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Matsushita Electric Industrial Co Ltd <MC.T> said it would launch the worlds smallest and lightest personal-use plain paper copier (PPC) on the domestic market in early June. It said the 69800 yen copier is 367 mm by 407 mm by 120 mm weighs six kilos and can copy pictures from television and VCRs with an optional ad... | MATSUSHITA TO LAUNCH PORTABLE COPIER |
The five leading West German economic research institutes have failed to agree about how strongly the domestic economy will expand this year but revised down forecasts contained in a report published six months ago. The three research groups of Kiel Hamburg and Essen predicted in the institutes joint spring report that... | INSTITUTES DIVIDED ON OUTLOOK FOR GERMAN ECONOMY |
<Blue Arrow Plc> said it had agreed terms to acquire a group of U.S. Companies collectively known as the <Richards Companies> which specialise in executive recruitment and management consultancy on personnel matters. The total consideration will be 29 mln U.S. Dlrs of which 50 pct will be payable in cash and 50 p... | BLUE ARROW TO BUY U.S. RICHARDS COMPANIES |
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. The bond is due on May 15 1990 and interest is paid on that date annually. Payment date is also May 15. Denominations are 1000 and 10000 dlrs a... | VICTORIA STATE BANK ISSUES 50 MLN AUS DLR EUROBOND |
Saudi riyal interbank deposit rates surged across the board as banks tried to build long positions in anticipation of a further rise in U.S. Interest rates dealers said. They said traders expected riyal deposits to follow the recent strong rise in eurodollar rates sparked by fears of a tighter U.S. Monetary policy to h... | SAUDI RIYAL DEPOSITS SURGE ON U.S. RATE RISE |
Gold bullion continued to move higher supported by good general buying and was fixed this morning at 436.50 dlrs 268.368 stg an ounce up from Fridays close of 432.00/50 dealers said. The setting was the highest since October 8 as gold built on Fridays gains which had been based on the weakness of the dollar and fears o... | LONDON GOLD MORNING FIX HIGHEST SINCE OCTOBER |
Borg-Warner <BOR> Corp facing an unwanted offer from GAF Corp <GAF> agreed to a 4.23 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... | BORG-WARNER AGREES TO BUYOUT BY MERRILL LYNCH FIRM |
The price index for sales of manufactured goods in the U.K. Rose a provisional unadjusted 0.3 pct in March after an identical rise in February Department of Trade and Industry figures show. The index for materials and fuel purchased by manufacturing industry fell a provisional and unadjusted 1.1 pct after a 1.7 pct fal... | U.K. MARCH PRODUCER PRICES RISE 0.3 PCT |
Sri Lankas cabinet has ordered a 12 pct cut in budget spending by ministries this year to offset the rising cost of the fight against Tamil guerrillas Finance Ministry officials said. A senior economist at the Ministry who declined to be named told Reuters the cuts would not apply to defence-related Ministries and thos... | SRI LANKA ORDERS BUDGET CUTS AS DEFENCE COSTS RISE |
Norways state oil company Den Norske Stats Oljeselskap A/S (Statoil) <STAT.OL> has told Thai authorities it is interested in taking a 30 pct share in a big offshore Thailand gas field Statoil said. The field in the southern sector of the Gulf of Thailand is currently operated by U.S. Oil company Texas Pacific Oil Co... | STATOIL SEEKS SHARE IN THAI GAS FIELD |
The New South Wales Treasury Corporation is issuing a 100 mln Australian dlr eurobond due May 27 1992 paying 14-1/4 pct and priced at 101-7/8 pct lead manager County Natwest Capital Markets said. The non-callable bond is guaranteed by the crown-in-right of New South Wales. The selling concession is 1-3/8 pct while mana... | TREASURY CORP OF NSW ISSUES AUSTRALIAN DLR BOND |
The ruling Liberal Democratic Partys (LDP) setback in Sundays nationwide local elections may force the government to water down its controversial proposal for a five pct sales tax and undermine its commitment to stimulating the economy private economists said. The LDPs failure to win seats in some crucial local constit... | ELECTION RESULT MAY DELAY JAPAN ECONOMIC STIMULUS |
Japanese oil traders and refiners are considering whether to suspend further business with Texaco Inc <TX> which yesterday filed for protection under Chapter 11 of the U.S. Bankruptcy code industry sources told Reuters. Texaco the third biggest U.S. Oil company said it filed to protect itself from creditors while it... | SOME JAPAN OIL FIRMS MAY STOP TRADING WITH TEXACO |
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. He told Reuters a general assembly had passed a proposal splitting 10.33 mln shares of 100 francs nominal into aroun... | CREDIT COMMERCIAL DE FRANCE SPLITS SHARES |
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. In their joint spring report the institutes were divided about 1987 growth forecasts with three predicting two pct expansion and the o... | WEST GERMAN INSTITUTES CALL FOR EARLY TAX CUTS |
Glaxo pre-tax profit 376 mln stg vs 260 mln in six months to end-December | |
Hillsdown Holdings Plc <HLDN.L> said its Christie-Tyler Ltd unit would buy the European bedding making interests of Simmons Co U.S.A. Owned by Gulf and Western Industries Inc USA <GW> for 23 mln dlrs. The acquisitions include <Sleepeeze Ltd> in the U.K. <Compagnie Continentale Simmons SA> in France and <... | HILLSDOWN BUYS BEDDING COMPANIES FOR 23 MLN DLRS |
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. They said EC foreign ministers will meet on May 25 and 26 to review the state of trade relations between the two sides. The EC e... | EC COULD DECIDE ON JAPAN TRADE MOVES IN LATE MAY |
Six months to end-December Shr 32.6p vs 22.3p Div 5.0p vs 4.0p 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 <GLXO.L>. Trading profit 338 mln vs 233 mln Share of profits of associates 14 mln vs seven mln Investment income less i... | GLAXO PROFITS UP SHARPLY, DIVIDEND RAISED |
A takeover battle began today for debt-burdened Dome Petroleum Ltd <DMP.MO> as TransCanada PipeLines Ltd <TRP.TO> announced a 4.3 billion dlr offer and Dome said it is continuing talks with other possible buyers. Companies mentioned in market speculation as potential buyers for Dome include Imperial Oil Ltd <I... | TAKEOVER BATTLE FOR DOME PETROLEUM BEGINS |
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. The operation will raise the outstanding supply of the bills to a record 4800 billion yen. The yield on the bills for sale... | BANK OF JAPAN TO SELL 800 BILLION YEN IN BILLS |
Italian state-owned bank Banca Commerciale Italiana BCI said it and Mediocredito Centrale will sign a joint venture pact with Soviet central bank Gosbank and Vneshtorgbank the foreign trade financial institution. A BCI spokesman told Reuters the agreement involves the banks providing financial services and taking equit... | ITALIAN BANKS TO SIGN ACCORD WITH SOVIET BANKS |
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. All deliverable shapes of aluminium under the high grade primary aluminium contract (minimum 99.7 pct purity... | LME CLARIFIES NEW ALUMINIUM CONTRACT DETAILS |
The yield on 91-day bankers security deposit accounts issued this week by the Saudi Arabian Monetary Agency (SAMA) rose to 6.43896 pct from 6.21563 a week ago bankers said. SAMA lowered the offer price on the 500 mln riyal issue to 98.39844 from 98.45313 last Monday. Like-dated interbank deposits were quoted today at 6... | YIELD ON 91-DAY SAMA DEPOSITS RISES |
Japanese Prime Minister Yasuhiro Nakasones unpopular plan to introduce a sales tax caused an electoral setback for his ruling Liberal Democratic Party (LDP) in Sundays local elections political analysts said. The LDP retained its 11 prefectural governorships but failed to restore a governorship in Fukuoka it had placed... | NAKASONE'S PARTY SUFFERS SETBACKS IN LOCAL POLLS |
A Ministry of International Trade and Industry (MITI) official denied a local news agency report that Japan will end its seven-month-old semiconductor agreement with the U.S. If Washington imposes tariffs on 300 mln dlrs worth of Japanese electronic goods from April 17. Kyodo News Agency reported a high-ranking MITI of... | JAPAN DENIES REPORT IT MAY END CHIP PACT WITH U.S. |
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 U.S. Bankruptcy laws eurobond dealers said. The decision to file for bankruptcy follows a court decision that it had to post an 11 billi... | TEXACO <TX> EUROBONDS UNQUOTED AT MARKET OPENING |
U.S. Legislators called on Japan to open its financial markets to more foreign participation and boost its efforts to head off growing U.S. Protectionism a Foreign Ministry spokesman said. We have come to seek the opening of Japans financial and banking markets Jake Garn ranking Republican on the Senate Banking Committ... | U.S. LAWMAKERS URGE JAPAN TO OPEN FINANCIAL MARKET |
North Yemen at its weekend tender bought white sugar from a French operator acting on behalf of a Swiss house at 214.70 dlrs a tonne c and f traders said. The amount bought was not immediately available although the country had sought 30000 tonnes of June arrival whites they said. REUTER | NORTH YEMEN BOUGHT WHITE SUGAR AT TENDER - TRADE |
A Ministry of International Trade and Industry (MITI) official denied a local news agency report that Japan will end its seven-month-old semiconductor agreement with the U.S. If Washington imposes tariffs on 300 mln dlrs worth of Japanese electronic goods from April 17. Kyodo News Agency reported a high-ranking MITI of... | JAPAN DENIES REPORT IT MAY END CHIP PACT WITH U.S. |
Japan warned the United States it may take retaliatory measures if the U.S. imposes its planned trade sanctions on April 17 a senior government official said at the weekend. Shinji Fukukawa Vice Minister of the International Trade and Industry Ministry said in a statement that Japan would consider measures under the Ge... | JAPAN WARNS U.S. IT MAY RETALIATE IN TRADE ROW |
The Bank of England said it had provided the money market with 75 mln stg help in the morning session. This compares with the Banks estimate that the system would face a shortage of around 400 mln stg today. The central bank bought bank bills outright comprising two mln stg in band two at 9-13/16 pct 15 mln stg in band... | U.K. MONEY MARKET GIVEN 75 MLN STG ASSISTANCE |
The Bank of Japan actively bought dollars here in early afternoon trade at around 142.20 yen dealers said. 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. However the intervention fa... | JAPAN CENTRAL BANK ACTIVELY BUYS DOLLARS IN TOKYO |
Japanese trade figures are seriously challenging the entrenched view of policy makers of the Group of Seven industrialised nations that relative currency rates are the key to smoothing world trade problems. Senior Japanese U.S. And European officials in Tokyo say they are at a loss to fully explain the data for if curr... | CURRENCY MOVES MAY BE HURTING WORLD TRADE |
Turkey is to apply tomorrow for European Community membership Foreign Ministry officials said. They told Reuters that Minister of State Ali Bozer would lodge the application in Brussels with Belgian Foreign Minister Leo Tindemans. Turkey would be the 13th member of the group of which Belgium is current president. REUTE... | TURKEY TO APPLY FOR EC MEMBERSHIP |
Negotiations scheduled between the metalworkers IG Metall union and employers to resolve an impasse over a new contract will start on Wednesday the union said in a statement. IG Metall is demanding a 35-hour week with a parallel increase in wages of five pct. Employers Gesamtmetall have offered a half-hour shortening i... | GERMAN METALWORKERS' WAGE TALKS BEGIN WEDNESDAY |
Saudi Arabia is in the market for 4000 tonnes of refined bleached deodorised palm olein for June 1/10 shipment traders said. REUTER | SAUDI ARABIA SEEKING RBD PALM OLEIN |
The London based trade journal METAL BULLETINS average producer price of good ordinary brand zinc for week ended April 10 is 790.00 dlrs per tonne. Reuter | METAL BULLETIN ZINC PRODUCER PRICE |
U.K. 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 figures showed a 0.3 pct provisional non-seasonally adjusted rise in output prices in March unchanged from February and close to the average for the... | U.K. PRODUCER PRICES SEEN MOVED BY TECHNICALITIES |
West German Economics Minister Martin Bangemann indirectly rejected a call from the countrys leading economic research institutes for early introduction of a major tax reform involving gross tax cuts of 44 billion marks. In a statement reacting to the five institutes joint spring report Bangemann said that as far as th... | BANGEMANN REJECTS CALL FOR EARLY TAX CUTS |
Italys Gross Domestic Product calculated at 1980 prices rose 2.4 pct in the fourth quarter of 1986 compared with the same period in 1985 National Statistics Institute ISTAT said. ISTAT said in a statement that GDP growth in fourth quarter 1986 was zero compared with the preceding quarter. Italys budget ministry said la... | ITALIAN GDP ROSE 2.4 PCT IN 1986 FOURTH QUARTER |
Tokyo share prices are expected to weaken further for about a week following a sharp drop which at one time today saw the Nikkei Dow index down 571.01 points in mid-afternoon trading brokers said. They said uncertainty caused by disputes between Japan and its main trading partners will continue to deter investors from ... | FURTHER WEAKNESS SEEN IN TOKYO STOCKS IN NEAR TERM |
Two Utah financial institutions the Bank of Iron County and Summit Savings and Loan Association have failed official spokesmen said. The board of directors of the Federal Deposit Insurance Corporation (FDIC) has approved the assumption of the deposit liabilities of Bank of Iron County Parowan Utah by Dixie State Bank S... | TWO UTAH FINANCIAL INSTITUTIONS FAIL |
Top officials of leading industrial nations appear deeply worried that financial markets have ignored their efforts to coordinate policies which they believe they strengthened in talks last week. Monetary sources said officials were exasperated that the markets which drove the dollar rapidly lower and severely disrupte... | G-7 SEEMS WORRIED MARKETS IGNORE COORDINATION |
The five leading West German economic research institutes which have revised down their forecasts for 1987 growth do not predict a recession in West Germany their spokesman Hans-Juergen Schmahl said. The institutes were divided in their spring report on forecasts for 1987 with three predicting two pct growth and two se... | INSTITUTES SEE NO WEST GERMAN RECESSION |
Shr 1.11 dlrs vs 1.10 dlrs Shr diluted 1.03 dlrs vs 1.02 dlrs Net 8186000 vs 8114000 Reuter | DEPOSIT GUARANTY CORP <DEPS> 1ST QTR NET |
Computer Associates International Inc said it has started its previously-announced 1.92 dlr per share tender offer for all shares of BPI Systems Inc. In a newspaper advertisement the company said the offer which has been approved by the BPI board and is to be followed by a merger at the same price is conditioned on rec... | COMPUTER ASSOCIATES <CA> STARTS BPI <BPII> BID |
Former Guinness Plc <GUIN.L> chairman Ernest Saunders dismissed allegations he ordered the shredding of documents in the early stages of a U.K. Investigation as completely untrue the Press Association news agency reported. The allegations were made by his former personal assistant Margaret McGrath in a statement to ... | SAUNDERS DENIES "PAPER SHREDDING" ALLEGATIONS |
The Federal Home Loan Bank Board said it had closed Future Savings and Loan Association of Albany Ore. and transferred its insured deposits to Williamsburg Savings Bank of Salt Lake City Utah. Future had 6614 accounts with total deposits of 57.3 mln dlrs. On Monday its five branches in Oregon will open as branches of W... | BANK BOARD CLOSES OREGON SAVINGS ASSOCIATION |
Shr 21 cts vs eight cts Net 6597000 vs 2602000 Revs 56.4 mln vs 23.2 mln 1st half Shr 57 cts vs 32 cts Net 17.6 mln vs 9810000 Revs 137.7 mln vs 76.0 mln Reuter | KING WORLD PRODUCTIONS INC <KWP> 2ND QTR FEB 28 |
Year to end-December Shr 76.7p vs 67.7p Div 17p making 23p vs 21p Pretax profit 127.0 mln stg vs 116.9 mln Turnover 1.10 billion vs 947.2 mln Tax 25.0 mln vs 26.3 mln Note - company full name is Blue Circle Industries Plc <BCIL.L>. Company said it proposes one-for-one capitalisation issue Gross profit 390.9 mln vs 3... | BLUE CIRCLE PROFITS, DIVIDEND RISE |
Railway cargo handlers yesterday called a three-day strike starting April 19 to press for higher wages union sources said. Workers of the Contratas Ferroviarias franchise firm which is also responsible for train and railway station maintenance are asking for an eight pct wage rise. The company has offered four pct. Reu... | SPANISH RAILWAY WORKERS CALL STRIKE |
Northrop Corp said it and Eaton Corp have been selected by the McDonnell Douglas Corp/Textron Inc team to codevelop the aircraft survivability equipment for the U.S. Armys light helicopter experimental program. The Army is expected to pick contractors to produce the helicopters in 1992. Reuter | NORTHROP <NOC>/EATON <ETN> IN HELICOPTER PROGRAM |
Crazy Eddie Inc said it is negotiating for the possible acquisition of Benel Distributors Ltd which operates Crazy Eddie Record and Tape Asylums in all Crazy Eddie stores. It said the acquisition would probably also include affiliate Disc-o-Mat Inc which operates a number of record and tape stores in the New York metro... | CRAZY EDDIE <CRZY> MAY MAKE ACQUISITION |
Crazy Eddie Inc said its board has adopted a defensive shareholder rights plan and said it has received friendly inquiries on its acquisition. 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 0.01 preferred share for each comm... | CRAZY EDDIE <CRZY> SETS DEFENSIVE RIGHTS |
Six workers were killed and four injured in an undeground rock fall at South Africas second largest gold mine today the mine owners said. It was the third major mine accident in the country in less than a week. Thirty four workers died in methane gas explosion at a coal mine last Thursday. Reuter | SIX KILLED IN SOUTH AFRICAN MINE |
The Zambian kwacha fell at this weeks foreign exchange auction to 18.75 kwacha to the dollar from last weeks 16.95 the Bank of Zambia said. 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. The Bank ... | ZAMBIA'S KWACHA FALLS AT WEEKLY AUCTION |
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. 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 i... | U.S. SENATE LEADER CALLS FOR INTEREST RATE CUTS |
A 3.22 billion dlr offer for Dome Petroleum Ltd <DMP.MO> by TransCanada Pipelines Ltd <TRP.TO> may short-circuit Domes restructuring plan and open the door for more takeover bids oil analysts said. Dome is trying to get approval for a plan to refinance debt of more than 4.5 billion dlrs by July 1 1987 when an int... | OFFER FOR DOME MAY SHORT-CIRCUIT ITS DEBT TALKS |
Investor Martin T. 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 29.1 mln from all those not already owned. In a newspaper advertisement Sosnoff said the bid by his MTS Acquisition Corp withdrawal rights and the prora... | SOSNOFF RAISES BID FOR CAESARS WORLD <CAW> |
Crazy Eddie Inc executive vice president and chief financial officer Sam Antar who turns 66 soon has resigned from its board and has been replaced by William H. Saltzman vice president and general counsel of Sun/DIC Acquisition Corp. Sam Antar and other executive vice presidents Mitchell Antar and Isaac Kairey were nam... | CRAZY EDDIE <CRZY> EXECUTIVE LEAVES BOARD |
U.S. Secretary of State George Shultz and Soviet Foreign Minister Eduard Shevardnadze met today an in elegant Moscow mansion in pursuit of the first superpower arms control agreement in nearly a decade. Shultz accompanied by senior advisers and technical experts arrived from Helsinki aboard a U.S. Air Force plane and w... | SHULTZ BEGINS TALKS WITH SHEVARDNADZE |
Shr loss 67 cts vs loss two cts Net loss 3721000 vs loss 107000 Revs 155.7 mln vs 24.2 mln NOTE: Results for 12 months ended Dec 31 1986 and eight months ended Dec 31 1985. Because of the acquisition of Brooks Drug in September 1986 and the companys change of fiscal year prior-year results are not comparable Compact Vi... | COMPACT VIDEO INC <CVSI.O> YEAR LOSS |
Leaders of the nations unionized automobile workers have signaled their intent for a major work stoppage later this year if General Motors Corp. <GM> and Ford Motor Co. <F> fail to satisfy demands for job security pay raises and protection against shifting U.S. production to foreign sources. United Automobile Wor... | UAW SAYS MAJOR WORK STOPPAGE POSSIBLE AT GM, FORD |
Oper shr 45 cts vs 26 cts Oper net 2258000 vs 1166000 NOTE: 1986 net excludes 842000 dlr tax credit. Reuter | NEWORLD BANK FOR SAVINGS <NWOR> 1ST QTR NET |
The Newspaper Advertising Bureau said its preliminary estimates show spending for newspaper advertising in January totaled 2.06 billion dlrs an increase of 10.5 pct from the year earlier month. The bureau said retail advertising for the month was up 10.7 pct to 1.02 billion dlrs. National advertising was off 0.7 pct to... | JANUARY NEWPAPER ADVERTISING INCOME UP 10.5 PCT |
USAIR TO BUY 55 PCT OF 17.0 MLN PIEDMONT SHARES TENDERED | |
Deutsche Texaco AG Texaco Incs <TX.N> 99.15 pct-owned West German subsidiary will not be affected by the legal dispute with the Pennzoil Company <PZL.N> managing board chairman Armin Schram said. Schram told a news conference that Deutsche Texacos business will not be affected by the legal proceedings in the U.S.... | DEUTSCHE TEXACO NOT AFFECTED BY LEGAL DISPUTE |
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. He told Reuters by telephone that importers Liptons and Brooke Bond had been asked to supply data to the authority and a hearing would be held... | PAKISTAN CONFIRMS KENYA TEA IMPORT INVESTIGATION |
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. But the April 3 ousting of Prime Minister Anibal Cavaco Silvas government could slow economic reforms and investment as Portugal cont... | PORTUGUESE ECONOMY REMAINS BUOYANT DESPITE CRISIS |
Malaysia will reduce its budget for the 1986-1990 development plan to 49 billion ringgit from its original 74 billion to limit expenditure the Economic Planning Unit (EPU) of the Prime Ministers Department said. EPU director-general Radin Soenarno was quoted by the national news agency Bernama as saying this would be d... | MALAYSIA CUTS FIVE YEAR PLAN BUDGET |
MERRILL LYNCH FIRST QTR SHR ONE DLR VS 85 CTS | |
U.S. Secretary of State George Shultz arrived in Moscow for talks with Soviet leaders likely to focus on nuclear arms reductions. Shultz flew in from Helsinki and drove straight from the airport to a meeting with Soviet Foreign Minister Eduard Shevardnadze. The three days of talks are overshadowed by an espionage row b... | SHULTZ ARRIVES IN MOSCOW FOR ARMS TALKS |
Shr primary one dlr vs 85 cts Shr diluted 97 cts vs 81 cts Net 108.6 mln vs 86.8 mln Rev 2.70 billion vs 2.17 billion Reuter | MERRILL LYNCH AND CO <MER> 1ST QTR NET |
Cooper Canada Ltd said it planned to consolidate its common and class A non-voting shares into one class of common shares subject to shareholder approval on May 1. Cooper Canada said the proposal would result in only voting shares being available to respond to Charan Industries Ltd <CHN.TO>s previously announced six... | COOPER CANADA <CPC.TO> SETS SHARE CONSOLIDATION |
International Corona Resources Ltd said its board of directors believes that terms of Royex Gold Mining Corps previously announced offer are fair and reasonable but it decided it will make no recommendation on the offer to its shareholders. Royex on March 31 offered to buy four mln Corona shares. For each Corona share ... | CORONA <ICR.TO> FAVORS ROYEX <RGM.TO> OFFER |
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. It said each South Atlantic share would be exchanged for one SAFCO share and each Independence share for 2.822 SAFCO shares. Independence now owns about 40 pct of ... | S.ATLANTIC <SOAF.O>, INDEPENDENCE <INHO.O> MERGE |
Shr 47 cts vs not given Net 2100000 vs 1277000 NOTE: Company went public in fourth quarter of 1986. Home Federal Savings and Loan Association of Upper East Tennessee. Reuter | HOME FEDERAL UPPER EAST TENNESSEE <HFET> 1ST QTR |
StateWest Airlines Inc said it started service to Las Vegas Nev. Tucson Ariz. and San Diego and entered into a joint fare agreement with Trans World Airlines <TWA>. StateWest said the fare agreement will result in lower fares for StateWest passengers who continue to any one of Trans Worlds 50 U.S. destinations. The ... | STATEWEST EXPANDS SERVICE, ENTERS FARE AGREEMENT |
The U.S. 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. 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 weig... | U.S. FEEDER STEER PRICE |
Nova An Alberta Corp said it will redeem its 12 pct cumulative redeemable convertible second preferred shares on May 15 1987 at the redemption price of 26.25 dlrs per share. Holders may convert their shares into class A common shares on the basis of 3.435 class A common shares for each 12 pct convertible preferred shar... | NOVA <NVA.TO> TO REDEEM PREFERRED |
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. Recently the Columbia Gas System Inc pipeline subsidiary said FERC denied on procedural grounds and without pre... | COLUMBIA GAS <CG> SEEKS CONTRACT COST RECOVERY |
Turkey is to apply tomorrow for European Community membership Foreign Ministry officials said. They told Reuters that Minister of State Ali Bozer would lodge the application in Brussels with Belgian Foreign Minister Leo Tindemans. Turkey would be the 13th member of the group of which Belgium is current president. Reute... | TURKEY TO APPLY FOR EC MEMBERSHIP |
Mellon Bank Corp said J. David Barnes has retired as chairman and chief executive officer and resigned from the board of the company and its Mellon Bank subsidiary. The company said senior director Nathan W. Pearson will succeed Barnes but also appointed a special search committee to review all internal and external ca... | MELLON BANK <MEL> CHAIRMAN RETIRES |
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 official MTI news agency said the government decided consumer price subsidies had to be cut to reduce state spending. From today the price of meat will rise by an average 18... | HUNGARY RAISES PRICES IN EFFORT TO CURB DEFICIT |
Leaders of the nations unionized automobile workers have signalled their intent for a major work stoppage later this year if General Motors (GM) and Ford Motor Co. fail to satisfy demands for job security pay raises and protection against shifting U.S. production to foreign sources. United Automobile Workers (UAW) pres... | UAW CHEERS CALL FOR "WAR" ON GM AND FORD |
P.H. GLATFELTER CO SAYS IT WILL BUY ECUSTA CORP FOR 149 MLN DLRS IN CASH | |
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 Reuter | FAMILY HEALTH SYSTEMS INC <FHSY> 2ND QTR FEB 28 |
The Commodity Futures Trading Commission CFTC is expected to accept the Chicago Board of Trades CBT proposal to establish a night trading session when the commission meets Wednesday CFTC officials said. CBT has proposed starting an evening trading session between 1800 and 2100 local time in Treasury bond and Treasury n... | CBT NIGHT TRADING SESSION SEEN GETTING APPROVAL |
1st qtr Shr 1.30 dlrs vs 1.65 dlrs Net 785 mln vs 1.02 billion Gross income 10.68 billion vs 10.13 billion Avg shrs 604.6 mln vs 615.6 mln NOTE: Pretax net 1.34 billion vs 1.83 billion. Sales 6.50 billion vs 6.10 billion maintenance gross income 1.95 billion vs 1.77 billion program products gross income 1.40 billion vs... | INTERNATIONAL BUSINESS MACHINES CORP <IBM> NET |
USAir Group Inc said in announcing the final proration factor for its tender offer for Piedmont Aviation Inc <PIE> that 17.0 mln shares or 90 pct of the shares were validly tendered. USAir said it has purchased and will pay for 9.3 mln shares representing about 55 pct of those tendered. Reuter | USAIR <U> REPORTS FINAL PRORATION FACTOR |
The number of British gold articles hallmarked during the first quarter of this year rose by more than 11 pct on the corresponding period last year figures released by the Assay Offices of Great Britain show. More than 2.5 mln British items were hallmarked during the quarter up 11.1 pct on the same year ago period. The... | MORE BRITISH GOLD ARTICLES HALLMARKED |
Texaco Inc.s plunge into bankruptcy to shield it from posting a bond in its 10.53 billion dlr legal battle with Pennzoil Co. <PZL> is a strategy that will give it breathing room until the fight over the 1984 acquisition of Getty Oil Co. winds its way up to the U.S. Supreme Court analysts said. Texaco the nations thi... | TEXACO <TX> USES BANKRUPTCY COURT TO BUY TIME |
Sight deposits of commercial banks at the Swiss National Bank fell 4.64 billion Swiss francs to 7.88 billion in the first 10 days of April the National Bank said. Foreign exchange reserves rose by 9.4 mln francs to 33.12 billion. Sight deposits are an important measure of money market liquidity in Switzerland. The Nati... | SWISS SIGHT DEPOSITS FALL 4.64 BILLION FRANCS |
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. 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. During the afternoon the bank boug... | U.K. MONEY MARKET GIVEN FURTHER 68 MLN STG HELP |
Goodyear Tire and Rubber Co said it expects to report earnings from continuing operations of over one dlr per share on 71.3 mln average shares outstanding. In last years first quarter the company lost 60.0 mln dlrs or 55 cts per share on 108.4 mln shares outstanding after a 110.8 mln dlr writedown of oil reserves of it... | GOODYEAR <GT> PREDICTS FIRST QUARTER NET |
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. Wang Der-Hwa Deputy Director of the Finance Ministrys Customs Administration Department on Saturday told report... | TAIWAN ANNOUNCES NEW ROUND OF IMPORT TARIFF CUTS |
Prime Ministers Zhao Ziyang of China and Anibal Cavaco Silva of Portugal signed an agreement to end more than four centuries of Portuguese rule over the territory of Macao and return it to Chinese control in 1999. Macao will become a special administrative region on December 20 1999 retaining a high degree of autonomy ... | CHINA AND PORTUGAL SIGN MACAO DEAL |
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. Cattle slaughter is guesstimated at about 120000 to 126000 head versus 120000 week ago and 124000 a year ago. Reuter | HOG AND CATTLE SLAUGHTER GUESSTIMATES |
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. Diplomatic sources here said several recent actions by EC countries bear witness to a new disillusionment ... | TRADE ISSUES STRAINING EC'S PATIENCE WITH JAPAN |
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