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Argentinas Economy Minister Juan Sourrouille said the narrow interest of creditor banks was holding up an accord to stretch out debt repayments and warned Argentina may break off negotiations. It is inadmissible that the private narrow interest of some banks threatens to turn into an insurmountable obstacle for a polic... | ARGENTINA WARNS IT MAY CUT OFF TALKS WITH BANKS |
General Electric Corp has received a 30.0 mln dlr contract for lot three of attack radar sets for the F/FB-111 avionics modernization program the Air Force said. reuter | GE <GE> GETS 30.0 MLN DLR F-111 RADAR CONTRACT |
Newhall Investment Properties said it declared a special distribution of 50 cts per share payable June one to unitholders of record April 24. Reuter | NEWHALL INVESTMENT <NIP> SETS SPECIAL PAYOUT |
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. There were 499967 gallons of foreign imports last week v... | FCOJ MOVEMENT 4,496,533 GALLONS LAST WEEK |
National Heritage Inc said it acquired the assets of Chartham Management Corp of Salem Ore. Terms were not disclosed. The assets acquired will be used to form a new divisional office serving the northwest the nursing home operator said. The newly acquired Salem operation has management responsibility for about 2500 bed... | NATIONAL HERITAGE <NHER> BUYS MANAGEMENT FIRM |
Medivix Inc said its American Subscription Plan Inc subsidiary signed a contract with <Midwest Benefits Corp> to provide mail order prescription services for employees of 300 companies. Midwest acts as a third party administrator for the companies Medivix said. The company said it anticipates the new pact will gener... | MEDIVIX <MEDX> UNIT IN PACT FOR MAIL ORDERS |
Ohio Mattress Co said that its Ohio-Sealy Mattress Manufacturing Co unit completed its previously announced acquisition of Sealy Mattress Co of Michigan Inc. 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 ... | OHIO MATTRESS <OMT> BUYS SEALY OF MICHIGAN |
Louisiana Land and Exploration Co said it Du Pont Cos Conoco Inc subsidiary and <Oranje-Nassau Energie B.V.> have been offered four exploration blocks offshore The Netherlands. Louisiana Land said Blocks Q4a E12c and E15b were offered to the group in which Conoco has a 67.5 pct interest Louisiana Land 20 pct and Ora... | LA LAND <LLX>,DU PONT <DD>GET EXPLORATION TRACTS |
Standard and Poors Corp said it lowered the ratings on AFG Industries Incs subordinated debentures to B-plus from BB-plus. The issue is removed from creditwatch where it was placed on March 18. About 185 mln dlrs of debt is affected. S/P noted that while AFGs and Wagner and Browns 2.2 billion dlr offer to acquire Genco... | AFG INDUSTRIES <AFG> DEBT LOWERED BY S/P |
Moodys Investors Service said it has raised its ratings on about 50 mln dlrs of outstanding securities of Southwest Airlines Co unit TransStar Airlines Corp formerly named Musa Air Corp. The agency has up the companys senior secured debt to Ba2 from B2. The action reflects the improvement in the companys financial posi... | MOODY'S UPGRADES SOUTHWEST AIRLINES <LUV> UNIT |
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. On April one it began consolidating sales marketing and manufacturing operations. The consolidation i... | PATIENT <PTI> CONSIDERING DEBT RESTRUCTURING |
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. The company also said it still intends to pursue a new corporate direction and is exploring acquisition alternatives. Reuter | NAPCO <NPCO> MANAGEMENT CANNOT RAISE FUNDING |
Shr loss 18 cts vs loss 89 cts Net profit 161000 vs loss 5938000 Assets 3.43 billion vs 3.46 billion Deposits 2.68 billion vs 2.67 billion Loans 1.45 billion vs 1.64 billion Note: Shr data after payment of preferred dividends. Reuter | BANKS OF MID-AMERICA INC <BOMA> 1ST QTR NET |
McDonnell Douglas Corp said it acquired Frampton Computer Services Ltd a British software company that is also known as Isis. Terms of the acquisition were not disclosed. Based in Bristol England Isis employs 65 workers and has annual revenues of about five mln dlrs McDonnell Douglas said. The company added that Isis w... | MCDONNELL DOUGLAS <MD> BUYS COMPUTER FIRM |
National Semiconductor Corp said it and Canon Inc <CANNY> plan to jointly develop integrated circuits and software products which will be manufactured by Canon. The first product will be a laser-beam printer for Nationals Series 32000 family of 32-bit microprocessor products the company said. Reuter | NATIONAL SEMI <NSM>, CANON IN DEVELOPMENT PACT |
Liberty Financial Group Charles D. Cheleden chairman and chief executive officer said Harold Kline has resigned his position as president of the group and its subsidiary Liberty Savings Bank effective May One. Cheleden said he will assume the offices previously held by Kline who will continue to serve on the board of t... | LIBERTY FINANCIAL GROUP <LFG> PRESIDENT RESIGNS |
The U.S. Agriculture Department announced the prevailing world market price adjusted to U.S. quality and location for Strict Low Middling 1-1/16 inch upland cotton at 50.57 cts per lb to be in effect through midnight April 16. The adjusted world price is at average U.S. producing locations (near Lubbock Texas) and will... | WORLD MARKET PRICE FOR UPLAND COTTON - USDA |
A shareholder group controlling 48.3 pct of the stock of Rocky Mount Undergarment Co Inc told the Securities and Exchange Commission it will try to take control of the company by taking over its board of directors. The group which includes David Greenberg Rocky Mounts former president and several other members of the G... | ROCKY MOUNT <RMUC> HOLDERS SEEK BOARD CONTROL |
U.S. corn sales of just over 1.0 mln tonnes in the week ended April 2 were eight pct above the prior week but 25 pct below the four-week average the U.S. Agriculture Department said. In comments on its latest Export Sales Report the department said Iraq Japan and the USSR were the largest buyers. Sales for the next mar... | USDA COMMENTS ON EXPORT SALES REPORT |
U.S. M-1 MONEY SUPPLY FALLS TWO BILLION DLRS IN MARCH 30 WEEK, FED SAYS | |
FED SAYS U.S. DISCOUNT WINDOW BORROWINGS 361 MLN DLRS IN APRIL 8 WEEK | |
U.S. BANK NET FREE RESERVES 447 MLN DLRS IN TWO WEEKS TO APRIL 8 | |
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. I am encouraged by the continuing improvement in earnings Danworth said. The first quarter met ou... | WESTINGHOUSE ELECTRIC <WX> OPTIMISTIC FOR YEAR |
Shr seven cts vs five cts Net 240000 vs 136000 Loans 264.5 mln vs 251.7 mln Deposits 319.7 mln vs 306.8 mln Assets 348.6 mln vs 334.6 mln Reuter | BSD BANCORP <BSD> 1ST QTR NET |
Shr 14 cts vs six cts Net 653561 vs 251955 Revs 4143056 vs 2199238 Reuter | GATEWAY COMMUNICATIONS INC <GWAY> 1ST QTR NET |
AMR Corps American Airlines will start its own information campaign in its dispute with the Association of Professional Flight Attendants. The company which has been negotiating with its 10000 attendants since late last year will give out information brochures at its terminals outlining its position according to L.C. D... | AMR (AMR) TO START INFORMATION CAMPAIGN IN DISPUTE |
British Airways said it suspended sale in the U.S. of its Europe on Us for travel from the U.S. due to disapproval by the U.S. Department of Transporation on grounds of reciprocity. Under the promotional program customers would buy a round trip from the U.S. to London and would receive a free round trip ticket from Lon... | BRITISH AIRWAYS <BAB> SUSPENDS PROMOTION |
Shr loss 42 cts vs loss 56 cts Net loss 596354 vs loss 795009 Revs 3818258 vs 2070772 Reuter | BAKER COMMUNICATIONS INC <BAKR> YEAR LOSS |
Shr 39 cts vs 28 cts Net 491000 vs 356000 Revs 890000 vs 720000 Year Shr 1.54 dlrs vs 2.49 dlrs Net 195200 vs 3165000 Rev 3463000 vs 3005000 Note: Net includes state tax credit of 400000 for 1986 qtr and year. Net also includes gains from sale of real estate of 3000 vs 83000 for qtr and 563000 vs 1317000 for year. Reut... | EASTOVER CORP <EASTS> 4TH QTR NET |
The Treasury said sales of EE U.S. savings bonds were 17 pct higher during March at 703 mln dlrs than in March 1986. It was the highest savings bond sales total for any March since 1978. Total holdings of U.S. savings bonds reached 94.76 billion dlrs the highest in the history of the program the Treasury said. March re... | MARCH U.S. SAVINGS BONDS SALES RISE STRONGLY |
U.S. bank discount window borrowings less extended credits averaged 361 mln dlrs a day in the week to Wednesday April 8 the Federal Reserve said. Total daily borrowings in the week fell 99 mln dlrs to 591 mln dlrs with extended credits down 35 mln dlrs at 230 mln dlrs. The week was the second half of the two-week state... | U.S. BANK DISCOUNT BORROWINGS 361 MLN DLRS |
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. 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 extreme heat from the fire caus... | NORANDA BEGINS MURDOCHVILLE MINE SALVAGE |
U.S. M-1 money supply fell two billion dlrs to a seasonally adjusted 738.9 billion dlrs in the March 30 week the Federal Reserve said. The previous weeks M-1 level was revised to 740.9 billion dlrs from 741.0 billion while the four-week moving average of M-1 rose to 739.8 billion dlrs from 739.7 billion. Economists pol... | U.S. M-1 MONEY SUPPLY FALLS TWO BILLION DLRS |
ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 1.39 BILLION DLRS IN LATEST WEEK TO 236.77 BILLION | |
The Federal Deposit Insurance Corp said a bank in Texas and one in Oklahoma were closed and their deposits transferred to other banks for the 54th and 55th bank failures in the nation this year. The Southwestern Bank of Houston was closed and its deposits transferred to OMNIBANC North Belt also of Houston. The failed b... | FDIC SAYS BANKS IN TEXAS, OKLAHOMA CLOSED |
A group led by Shamrock Associates told the Securities and Exchange Commission it will mount a proxy contest in an effort to elect three class one directors to the Prime Medical Services Inc board of directors. The Shamrock shareholder group said its members also pledged not to sell their holdings back to the company u... | HOLDERS PLAN PRIME MEDICAL <PMSI> PROXY CONTEST |
Bevis Industries Inc which has been seeking to be acquired said it recently received inquiries concerning the purchase of the company. 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 R.L. Day Inc for study. On March 18 the ... | BEVIS <BEVI> RECEIVES TAKEOVER INQUIRIES |
LTV Corp said it will seek approval from the U.S. bankruptcy court to make one-time hardship payments to retired steelworkers who lost some pension benefits when their retirement plans were terminated. The payments would range from 100 dlrs to 750 dlrs per person for more than 9800 steel company salaried and hourly ret... | LTV <QLTV> TO MAKE ONE-TIME BENEFIT PAYMENTS |
Jacor Communications Inc said it agreed to buy two Denver radio stations from A.H. Belo Corp <BLC> for 24 mln dlrs in cash and notes. Jacor said the two stations are KOA-AM and KOAQ-FM. The acquisitions must be approved by the Federal Communications Commission Jacor added. Reuter | JACOR <JCOR> TO BUY TWO DENVER RADIO STATIONS |
Assets of money market mutual funds increased 1.39 billion dlrs in the week ended yesterday to 236.77 billion dlrs the Investment Company Institute said. Assets of 93 institutional funds were up 481.1 mln dlrs to 65.65 billion dlrs 93 broker-dealer funds rose 285.3 mln dlrs to 107.31 billion dlrs and 197 general purpos... | ASSETS OF U.S. MONEY FUNDS ROSE IN WEEK |
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 1.2 pct of the total outstanding. Polycast said it made the sales April 6-8 in the over-the-counter market. It gave no reason for the sales. Reuter | POLYCAST <PTCC> REDUCES SPARTECH <SPTN> STAKE |
Smithkline Beckman Corp said its genetically engineered hepatitis B vaccine has received regulatory approval for marketing in Switzerland and Luxembourg. The vaccine called Engerix-B has been approved in several other countries including Belgium and Hong Kong. Smithkline said it is currently considering marketing avenu... | SMITHKLINE <SKB> VACCINE GETS APPROVAL OVERSEAS |
There were 287700 tonnes of U.S. corn shipped to the Soviet Union in the week ended April 2 according to the U.S. Agriculture Departments latest Export Sales report. That compares with 106200 tonnes shipped in the prior week. There were no wheat or soybean shipments during the week. The USSR has purchased 2825600 tonne... | GRAIN SHIPMENTS TO THE USSR -- USDA |
Jiffy Lube International Inc said it plans to expand into the Australian market as well as neighboring countries with its chain of automotive fast oil change and maintenance centers. Jiffy Lube said it plans to open its first center in Brisbane later this year and have 100 centers open within six years. Reuter | JIFFY LUBE INTERNATIONAL <JLUB> IN AUSTRALIA |
TREASURY'S BAKER SAYS MACROECONOMIC INDICATORS NEED MORE PROMINENT ROLE | |
HOSPITAL CORP SAYS IT RECEIVED 47 DLR A SHARE OFFER FROM INVESTOR GROUP | |
Qtly div five cts vs five cts prior Pay July 13 Record June 30 Reuter | BEVERLY ENTERPRISES <BEV> SETS REGULAR DIVIDEND |
TREASURY'S BAKER SAYS FLOATING EXCHANGE RATE SYSTEM NEEDS GREATER STABILITY | |
Crude oil netback values in complex refineries rose sharply in Europe and firmed in the U.S. last Friday from the previous week but fell sharply in Singapore according to calculations by Reuters Pipeline. The firmer tone to refining margins in Europe and the U.S. relected higher prices for petroleum products particular... | CRUDE OIL NETBACKS UP SHARPLY IN EUROPE, U.S. |
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. In remarks before the afternoon session of the International Monetary Funds Interim Committee Baker said he was not sugg... | TREASURY'S BAKER SAYS SYSTEM NEEDS STABILITY |
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 22.5 mln dlrs in cash. Nerco said it estimates the fields total proved developed and undeveloped reserves at 24 billion cubic feet or equivalent of natural gas whic... | NERCI <NER> UNIT CLOSES OIL/GAS ACQUISITION |
For the second time in seven weeks the United States and Britain vetoed a Security Council resolution to impose mandatory sanctions against South Africa. Nine of the Councils 15 members voted for the draft aimed at forcing South Africa to implement an eight-year-old U.N. independence plan for Namibia (South West Africa... | U.S. AND BRITAIN VETO SANCTIONS AGAINST S.AFRICA |
Commodities from gold to grains to cotton posted solid gains in a flurry of buying today as losses in the U.S. dollar and rising interest rates kindled fears of inflation and economic instability. Gains were most pronounced on the Commodity Exchange in New York where gold jumped 12.40 dlrs and closed at 436.50 dlrs a t... | U.S. DOLLAR LOSSES PROPEL BROAD COMMODITY GAINS |
General Motors Corp said it will temporarily lay off 9800 workers at two plants next week. The layoffs will bring to 11900 the number of General Motors workers temporarily let go by the company. Indefinite layoffs remain unchanged at 37000. General Motors said its Chevrolet-Pontiac-GM of Canada plant at Okalhoma City O... | GENERAL MOTORS <GM> TO IDLE 9,800 WORKERS |
<Tennex Industries Inc> a Japanese owned supplier of air cleaners for the automotive industry said it will build a seven mln dlr plant in Munfreesboro Tenn. The company said the 37500-square-foot plant will initially supply parts to <Nissan Motor Manufacturing Corp USA> in nearby Smyna. The company said it hopes ... | TENNEX INDUSTRIES TO BUILD PLANT IN TENNESSEE |
Egypt is expected to tender April 22 for 500000 tonnes of corn for May through September shipments private export sources said. Reuter | EGYPT SEEKING 500,000 TONNES CORN - U.S. TRADERS |
Shr 67 cts vs 62 cts Net 9160000 vs 7722000 Assets 4.5 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. Reuter | TRUSTCORP INC <TTCO> 1ST QTR NET |
 N.Y. GRAIN FREIGHTS - April 9 Nidera took TBN 12000 tonnes HSS Toledo to Casablanca April 29-May 5 25.00 dlrs three days load 1000 discharge Comanav took Radnik 20000 tonnes Lakehead to Morocco April 15-25 22.00 dlrs 5000 load 3000 discharge Krohn took Akron 75000 tonnes anygrains on 55 feet stowage Mississippi Ri... | |
Shr 20 cts vs 25 cts Net 487000 vs 435000 Reuter | NAPA VALLEY BANCORP <NVBC> 1ST QTR NET |
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 1.36 dlrs Net loss 2872000 vs loss 5200000 Revs 23.3 mln vs 21.1 mln Note: 1985 net includes 1255000 adjustment in inventory valuations and 486000 in cost-reduction expenses. Full name is International Po... | INTERNATIONAL POWER MACHINES <PWR> 4TH QTR LOSS |
The Chicago Board Options Exchange CBOE said it will list new Standard and Poor 500 stock index options beginning April 20 that will trade side-by-side with the existing S and P 500 options <SPX>. The new S and P 500 option contract differs from the existing contract in that settlement of the new contract will be ba... | CBOE TO LIST NEW S AND P OPTIONS <NSX> APRIL 20 |
The European Community has told Congress that if textile legislation injuring EC interests is approved there was no doubt the community would retaliate against U.S. exports. Roy Denmam head of the EC delegation here issued the warning in a letter to Senator Lloyd Bentsen chairman of the Finance Committee. A copy of the... | EC WARNS AGAINST PASSAGE OF TEXTILE BILL |
The Chicago Board Options Exchange CBOE said it will list new Standard and Poor 500 stock index options beginning April 20 that will trade side-by-side with the existing S and P 500 options. The new S and P 500 option contract differs from the existing contract in that settlement of the new contract will be based on th... | CBOE TO LIST NEW S AND P OPTIONS APRIL 20 |
A Grand Jury in Manhattan Federal Court indicted three arbitrageurs charging they swapped inside information between their firms Goldman Sachs and Co and Kidder Peabody and Co court documents showed. Robert Freeman head of risk arbitrage at Goldman Sachs and Co Richard Wigton an employee of Kidder Peabody Co Inc and Ti... | THREE TRADERS INDICTED FOR INSIDER TRADING |
Great American Management and Investment Inc told the Securities and Exchange Commission it acquired a 7.7 pct stake in Atcor Inc. Great American said it bought the stake for investment. It added that it has also considered--but not yet decided--to buy additional Atcor shares either in the open market in private transa... | GREAT AMERICAN MGMT<GAMI> HAS ATCOR<ATCO> STAKE |
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. Reuter | RAI RESEARCH CORP <RAC> 3RD QTR FEB 28 NET |
Moore Corp Ltd expects 1987 profits from continuing operations will exceed 1986 results and recover to 1985 levels when the company earned 152 mln U.S. dlrs or 1.70 dlrs a share president M. Keith Goodrich said. Well have a substantial increase in earnings from continuing operations he told reporters after the annual m... | MOORE <MCL> SEES SUBSTANTIAL 1987 PROFIT GAIN |
Arvin Industries Inc said its shareholders at the annual meeting voted to increase authorized common shares to 50 mln from 30 mln. The company told shareholders that the offering of 1.7 mln common shares in January raised 50 mln dlrs and the 500 shares of variable rated preferred stock offered in February also raised 5... | ARVIN <ARV> RAISES NUMBER OF AUTHORIZED SHARES |
Raytheon Co said the United States Navy awarded it a 215.3 mln dlr contract to produce 1927 AIM/RIM-7M Sparrow Missile Guidance and Control Sections and associated hardware. Under the contract the company said it will provide missiles and associated hardware to the U.S. Navy and Air Force and to several U.S. allies. Ra... | RAYTHEON <RTN> WINS U.S. NAVY CONTRACT |
Gabelli Group Inc said it and two subsidiaries held a total of 295800 Decision/Capital Fund Inc shares or 14.8 pct of the total outstanding. It said the shares were held on behalf of investment clients and it said it had no intention of seeking control of the fund. Gabelli said its most recent purchases of Decision/Cap... | FIRM HAS 14.8 PCT OF DECISION/CAPITAL FUND<DCF> |
Consumers Power Co said it has 56 mln dlrs available to be used to redeem at par any 15 pct series first mortgage bonds that are not exchanged under an outstanding bond exchange program. 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... | CONSUMERS POWER <CMS> TO REDEEM BONDS |
The Semiconductor Industry Association put the three-month average book-to-bill ratio at 1.21 which was above analysts expectations and reflects the sixth straight increase in this indicator of computer industry activity. Average booking in the three month period ended in March totaled 910.8 mln dlrs up 15.6 pct from a... | SEMICONDUCTOR BOOK TO BILL RATIO AT 1.21 PCT |
MP Co a New York investment partnership told the Securities and Exchange Commission it bought a 6.8 pct stake in IPCO Corp common stock. The partnership said it acquired 346600 IPCO shares paying 4.9 mln dlrs because it believed the securities to be an attractive investment opportunity. It said it planned to regularly ... | PARTNERSHIP BUYS IPCO <IHS> STAKE OF 6.8 PCT |
Oper shr loss 30 cts vs loss 1.27 dlrs Oper net loss 8648000 vs loss 25.6 mln Revs 27.4 mln vs 33.3 mln Avg shrs 29.1 mln vs 20.1 mln Note: Oper excludes loss on provision for discontinued operations of 971000 vs 12.2 mln and loss from conversion of debt 587000 vs gain of 1734000. 1985 oper excludes loss from pension p... | DELMED INC <DMD> YEAR LOSS |
Retail sales of trucks in March rose 16.4 pct over the same month last year said the Motor Vehicle Manufacturers Association. The trade group said dealers sold 377617 trucks in March up from 324327 last year. Year-to-date truck sales were up 3.6 pct at 934074 from 1986s 901757. Reuter | MARCH TRUCK SALES SAID UP 16.4 PCT |
Elements of the drug industry endangered the lives of children by pressuring the government to delay a now common warning on the link between aspirin and an often fatal disease a doctor said. The warning involving Reyes Syndrome has since been required on aspirin products under a Food and Drug Administration (FDA) dire... | DRUG INDUSTRY ATTACKED ON ASPIRIN ISSUE |
CADILLAC FAIRVIEW SAYS IT HAS RECEIVED SOME ACQUISITION PROPOSALS | |
General Motors Corps Hughes Aircraft Co said it received a contract worth more than 20 mln dlrs from Boeing Cos Boeing Commercial Airplane Co. Hughes will supply a cabin entertainment and service system for Boeings new 747-4000 jumbo jetliners. Reuter | GM <GM> UNIT GETS BOEING <BA> CONTRACT |
<Audec Corp> said it sold privately 24 units each consisting of 40000 common shares and 40000 redeemable common share purchase warrants for a total of 480000 dlrs. Audec said the sale was part of its plan to place a total of 28 units at 20000 dlrs each. Reuter | AUDEC IN PRIVATE PLACEMENT OF STOCK, WARRANTS |
The French government said it proposed the creation of a new facility for development and for debt reduction under the framework of the World Bank. In a statement issued in conjunction with the meeting of the International Monetary Funds policy-making Interim Committee the French said the multilateral resources thus co... | FRENCH PROPOSE NEW WORLD BANK DEBT FACILITY |
<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. Cadillac Fairview said the offers are subject to clarification and negotiation and offered no further deta... | CADILLAC FAIRVIEW SAYS IT RECEIVED TAKEOVER BIDS |
Chrysler Corp said one of its U.S. car and truck assembly plants will work overtime next week. Six of its seven U.S. facilities will work during the week. The plant on overtime both during the week and on Saturday April 11 is the companys Sterling Heights Mich. factory. The companys U.S. plants and offices will be clos... | ONE CHRYSLER <C> PLANT TO WORK OVERTIME |
The European Community (EC) will retaliate against U.S. textile exports if Congress passes trade legislation damaging European interests an EC official warned today. Roy Denman head of the EC delegation here issued the warning in a letter to Senator Lloyd Bentsen chairman of the Finance Committee. A copy was provided t... | EC WARNS AGAINST PASSAGE OF TEXTILE BILL |
 N.Y. TANKERS - April 9 Tennaco took Nicopolis part cargo 50000 tons dirty April 12 Caribbean to U.S. Gulf worldscale 130 Exxon took Brazil Glory 77000 tons dirty April 17 East Coast Mexico to U.S. Atlantic Coast worldscale 75 Champlin took Tamba Maru part cargo 57000 tons crude April 18 Caribbean to U.S. Gulf worl... | |
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. Reuter | WINTERHALTER <WNTLC> HOLDERS OKAY TAKEOVER |
Harold H. Kline 48 will resign on May one as president of Liberty Financial Group Inc and its Liberty Savings Bank unit to pursue other business opportunties the company said. The company said Klines post will be filled by Charles G. Cheleden chairman and chief executive officer. Kline will continue to serve on the boa... | LIBERTY FINANCIAL <LFG> PRESIDENT TO RESIGN |
Immunomedics Inc said it filed a registration statement with the Securities and Exchange Commission for the proposed sale of 2500000 shares of common stock. The company said it will sell 2100000 shares and that certain stockholders will sell the remaining 400000 shares. Proceeds from the offering will be used for produ... | IMMUNOMEDICS <IMMU> TO SELL COMMON STOCK |
Mobil Corp Chairman Allen E. Murray said the companys exploration and production budget would not be increased in the foreseeable future as it is operating on the assumption that (oil) prices will remain on the lower end of the spectrum. Our budget is at about the same level as it was last year and I think it is the ri... | MOBIL <MOB> WILL NOT INCREASE BUDGET |
Shr loss 10 cts vs profit 17 cts Net loss 1546000 vs profit 4078000 Revs 22.6 mln vs 38.9 mln Reuter | <AMERICAN EAGLE PETROLEUMS LTD> YEAR LOSS |
TREASURY'S BAKER SAYS DEBTOR NATIONS NEED TIMELY DISBURSEMENTS | |
General Motors Hughes Aircraft Co said it was awarded a contract worth more than 20 mln dlrs by Boeings Boeing Commercial Airplane Co to provide an advanced cabin entertainment and service system for Boeings new 747-400 airliners. Hughes said the new system uses advanced digital electronic techniques and also adds cabi... | GM'S<GM> HUGHES AIRCRAFT HAS BOEING<BA> CONTRACT |
President Reagan criticized the House-passed budget by saying the Democratic budget plan was just business as usual. The budget cut defense by eight billion dlrs and called for 18 billion dlrs in new taxes. He said the defense cut potentially theratened national security and was asking the American taxpayers to pay for... | REAGAN HITS HOUSE-PASSED BUDGET |
Standard and Poors said it lowered its rating on 190 mln dlrs of Zenith Electronic Corp debt because of continued poor earnings results and increased debt leverage. Among the rating changes the companys senior debt was lowered to BB-plus from BBB-plus. Reuter | S/P DOWNGRADES ZENITH ELECTRONIC <ZE> |
Moodys Investors Service said it lowered the ratings on 464 mln dlrs of long-term debt issued by RepublicBank Corp and its two principal subsidiaries but upgraded 451 mln dlrs of securities of Interfirst Corp <IFC>. The rating adjustments are based on the likelihood that the proposed merger of the two Texas banks wi... | MOODY'S DOWNGRADES REPUBLICBANK <RPT> |
Treasury Secretary James Baker said that commercial banks need to develop more flexibility in their concerted lending mechanisms to help assure continued participation in new money packages. He said that major debtor nations need to be able to count on receiving timely disbursements on new loans essential to support we... | TREASURY'S BAKER CALLS FOR MORE BANK FLEXIBILITY |
chiles trade surplus narrowed to 102.2 mln dlrs in february from 105.4 mln dlrs in the same month last year but it was above the 18.2-mln-dlr surplus recorded in january 1987 the central bank said. Exports in february totalled 379.4 mln dlrs 17.2 pct above the january figure. Imports fell 9.2 pct from the previous mont... | CHILEAN TRADE SURPLUS NARROWS SLIGHTLY IN FEBRUARY |
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. Data out today show net borrowings from the Fed averaged 393 mln dlrs in the two weeks to Wednesday up from 265 m... | ANALYSTS DOUBT FED FIRMED DESPITE BORROWING RISE |
mln-dlr 20-year loan to assist Pakistan in a project designed to improve power plant efficiency. 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. Another objective is to improve th... | PAKISTAN GETS 70 MLN DLR WORLD BANK LOAN |
Shr loss six cts vs loss 84 cts Net loss 219632 vs loss 16.3 mln Revs 1.4 mln vs 2.8 mln NOTE:1985 net includes 15.5 mln dlrs of writedowns and tax benefit of 51294. Reuter | VALEX PETROLEUM INC <VALP> YEAR DEC 31 |
Valex Petroleum Inc said its 1.3 mln dlrs in long-term debt with a commercial bank was reclassified as a current liability which resulted in its auditors giving it a qualified opinion. Earlier Valex reported a net loss 219632 for 1986. Reuter | VALEX PETROLEUM <VALP> RECLASSIFIES DEBT |
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