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MANUFACTURERS NATIONAL, DETROIT, SAID IT WILL ADD 30.4 MLN DLRS TO LOAN LOSS RESERVES | |
Standard and Poors Corp said it affirmed the AA long-term debt of J. Sainsbury PLC. S and P cited Sainsburys offer for the shares of Shaws Supermarkets Incs <SHAW> it does not own. Sainsbury currently holds 28.5 pct of that company. The acquisition will be financed by an equity issue so the impact on Sainsburys capi... | SAINSBURY <SBRY.L> LONG-TERM DEBT AFFIRMED BY S/P |
North American Communications Corp said it is considering several options to maximize shareholder value including a possible sale merger corporate restructuring or leveraged buyout. Trading in the companys stock was halted pending an announcement. The company which owns and operates 47 cable television systems in Minne... | N. AMERICAN COMMUNICATIONS <NACS.O> WEIGHS SALE |
Federal Co said its fiscal year ended May 30 will be a record year with net income almost double that of the previous fiscal year. The companys chairman R. Lee Taylor told security analysts that Wall Street estimates of earnings per share in the range of 4.25-4.50 dlrs are in line with what the company expects. The com... | FEDERAL CO <FFF> PREDICTS RECORD 1987 EARNINGS |
MURPHY OIL SAID IT PROPOSING TO ACQUIRE REMAINING 23 PCT OF CANADIAN SUBSIDIARY | |
U.S. MAY BUDGET DEFICIT 35.74 BILLION DLRS VS YEAR AGO DEFICIT 39.40 BILLION | |
Alcan Aluminum Corp a subsidiary of Alcan Aluminium Ltd said it increased its U.S. primary aluminum prices by two cents a lb effective yesterday. The new prices are 72 cents a lb for ingot and 80 cents for extrusion billet the company said. Reuter | ALCAN RAISES ALUMINUM PRICES TWO CENTS A LB |
SITHE-ENERGIES L.P. TO INVEST 100 MLN DLRS IN ENERGY FACTORS, COMPANY SAYS | |
Primerica Corp said it completed the previously announced acquisition of Smith Barney Inc for 750 mln dlrs in cash. 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. Reut... | PRIMERICA <PA> COMPLETES SMITH BARNEY TAKEOVER |
Bloomfield Savings and Loan Association F.A. said its receipt of 8.5 mln dlrs as partial settlement from a lawsuit will have a substantial positive impact on its earnings for 1987. The thrift had net loss of 4095000 dlrs or 1.85 dlrs a share in 1986. The 8.5 mln dlrs will be reported during the second quarter it said B... | BLOOMFIELD SAVINGS <BFCO.O> SEES IMPROVED NET |
Brooklyn Union Gas <BU> a New York gas utility company said it will try to limit any rate hikes to customers by arranging alternative supplies to replace the spot natural gas that Transco Energy Co <E> no longer delivers a company official told Reuters. Edward Sondey vice president of supply said that under a gra... | BROOKLYN UNION SAYS A RATE HIKE WOULD BE MODEST |
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 off... | KING WORLD <KWP> HAS FINANCING FOR OFFER |
Best Buy Co Inc said it filed a registration statement with the Securities and Exchange Commission for a proposed offering of 30 mln dlrs of subordinated extendable notes. Underwriters are led by Piper Jaffray and Hopwood Inc. Financing is expected to be completed within 30 days the company said. Proceeds will be used ... | BEST BUY <BBUY.O> FILES 30 MLN DLR DEBT OFFERING |
A spokesman for Continental Illinois Corp said the bank will not comment on rumors that it will soon add to reserves to cover possible losses on loans to developing countries. Rumors circulated on Wall Street today that Continental would soon join the long list of banks adding to reserves. Some analysts speculated that... | CONT'L ILLINOIS WON'T COMMENT ON RESERVE RUMORS |
Manufacturers National Corp said it will add 30.4 mln dlrs to its reserve to cover exposure for Latin American loans. It said the added reserves are expected to result in a second-quarter loss of about 10 mln dlrs for the corporation. Of the 30.4 mln dlr provision 20 mln dlrs is in general loan loss reserves for the ma... | MANUFACTURERS NAT'L <MNTL.O> ADDS LOAN LOSSES |
Qtly div 20 cts vs 20 cts prior Pay September three Record August 17 Reuter | FEDERAL SIGNAL CORP <FSS> SETS REGULAR DIVIDEND |
Qtly div 28-1/2 cts vs 28-1/2 cts prior Pay September 15 Record September one Reuter | MAY DEPARTMENT STORES CO <MA> SETS REG DIV |
Rockwell International purchased SofTech Incs newest line of Ada-86 tools to use in building a digital autopilot for the anti-tank missle Hellfire SofTech said. SofTech said the contract which was awarded to Rockwells Duluth Ga. division will involve more than 10 man years of programming for each digital autopilot. Reu... | ROCKWELL <ROK> BUYS SOFTECH <SOFT.O> PRODUCTS |
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. 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 off... | MURPHY OIL <MUR> TO ACQUIRE CANADIAN SUBSIDIARY |
Gynex Laboratories Inc said it signed an agreement under which Warner-Lambert Cos Chilcott Laboratories division will market Gynexs line of generic oral contraceptives. Gynex Labs is a 50/50 joint venture owned by Gynex and Watson Laboratories Inc a privately-held pharmaceutical company bnased on Corona California. Mar... | GYNEX <GYNXU.O> IN DEAL WITH WARNER <WLA> |
Jeffrey Neuman of Santa Monica Calif. told the Securities and Exchange Commission he sold his entire RB Industries Inc stake of 341210 shares or 10.0 pct of the total outstanding. 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 pr... | INVESTOR SELLS 10 PCT RB <RBI> STAKE |
Fortune Financial Group Inc said its Fortune Savings Bank acquired a Financial Security Savings and Loan Association branch in Sunrise Fla. Terms were not disclosed. The new Fortune Savings Bank office had about 40 mln dlrs in deposits as of June 5. Meanwhile acquisition of Marine Savings and Loan Association of Florid... | FORTUNE FIN'L <FORF.O> UNIT MAKES ACQUISITION |
Coca-Cola Enterprises Inc said Don Ulrich will be resigning as president of its Northeast Group to pursue other business interests. The company said Jim Stevens who is also a Coca-Cola Enterprises vice president and president of its Mid-Atlantic Coca-Cola Bottling Co affiliate will succeed Ulrich. Reuter | COCA-COLA ENTERPRISES <CCE> UNIT HEAD QUITS |
Bally Manufacturing Corp said it filed a shelf registration with the Securities and Exchange Commission for a secondary public offering of two mln shares of Series D convertible exchangeable preferred stock. The stock is exchangeable at Ballys option into the companys convertible debentures due February one 2007 and is... | BALLY <BLY> FILES SHELF FOR PREFERRED STOCK |
Mars Graphic Services Inc said it expects sales for the second quarter ending August 31 to exceed year ago sales of 3.7 mln dlrs for the same period. In the year-ago quarter the company earned 191000 dlrs or 18 cts a share. Reuter | MARS GRAPHIC <WMD> SEES HIGHER 2ND QTR SALES |
The U.S. budget was in deficit 35.74 billion dlrs in May compared with a deficit of 39.40 billion dlrs in May 1986 the Treasury Department said. Last months deficit followed an April surplus of 38.66 billion dlrs. For the fiscal year to date the budget was in deficit 119.02 billion dlrs compared with a deficit of 165.8... | U.S. BUDGET DEFICIT 35.74 BILLION DLRS IN MAY |
Digicon Inc said it is offering to exchange about 55 mln dlrs of outstanding subordinated debentures for a package of new issues. The outstanding debenture issues include 12-7/8 pct senior subordinated notes 10-1/2 pct convertible subordinated debentures and 8-1/2 pct convertible subordinated debentures of the unit Dig... | DIGICON OFFERS NEW DEBT FOR OUTSTANDING DEBT |
TransAmerican Natural Gas said it received approval from a U.S. District Court in Texas allowing the company to solicit creditor acceptance of its negotiated Chapter 11 plan of reorganization. The company said the approval authorized the company to distribute the disclosure statement to its creditors and solicit credit... | TRANSAMERICAN <TA> GETS APPROVAL ON CHAPTER 11 |
A group led by Far Hills N.J. investors Natalie and Paul Koether told the Securities and Exchange Commission it has acquired 299523 shares of American Physicians Service Group Inc or 5.1 pct of the total. The Koether group said it bought the stock for 1.0 mln dlrs for capital appreciation and may buy more. The group al... | GROUP HAS 5.1 PCT OF AMERICAN PHYSICIANS<AMPH.O> |
BARCO DIRECTORS APPROVE BUYOUT OFFER FROM SENIOR MANAGEMENT | |
Lloyds Bank Plcs <LLOY.L> decision to withdraw from making markets in Eurobonds and U.K. Government bonds (gilts) sent shivers down the spines of other market participants but was viewed as prudent by banking analysts. It (the move) really isnt a surprise. They lost a lot of money in the early stages of the gilt mar... | LLOYDS BANK BOND MARKET WITHDRAWAL CALLED PRUDENT |
REED'S CHAIRMAN DENIES BID RUMORS | |
The Securities and Exchange Commission said it supported legislation to define insider trading and would recommend language for such a definition within six weeks. Acting SEC chairman Charles Cox told the Senate Banking Committee a bill proposed this week to define insider trading as the wrongful use of material nonpub... | SEC SUPPORTS INSIDER TRADING DEFINITION |
IRWIN JACOBS SAYS HE HOLDS LESS THAN FIVE PCT OF GILLETTE | |
Oper shr two cts vs three cts Oper net 529000 vs 579000 Sales 322.0 mln vs 173.8 mln Nine mths Oper shr six cts vs eight cts Oper net 1619000 vs 1700000 Sales 875.1 mln vs 482.3 mln Note: oper data does not include extraordinary gains from tax loss carryforwards of 291000 dlrs or one ct per shr vs 316000 dlrs or one ct... | COSTCO WHOLESALE <COST.O> 3RD QTR MAY 11 NET |
ICCO buffer stock manager to buy 5,000 tonnes cocoa Monday, June 22 - official | |
Sithe-Energies LP said it has signed an agreement under which it will increase its interest in Energy Factors Inc to 70.0 pct from 53.4 pct now by investing 100 mln dlrs in Energy Factors stock. Reuter | SITHE TO RAISE ENERGY FACTORS <EFAC> STAKE |
Bacro of California said its board approved an offer from its chairman Kenneth Donner and President Michael Donner to purchase all the outstanding Barco common shares at 5.05 dlrs per share in a leveraged transaction. The Donners currently own about 44 pct of the companys outstanding shares Barco said. It also said vic... | BARCO <BRC> BOARD APPROVES LEVERAGED BUYOUT |
Braintree Savings Bank said Winthrop Sargent IV has been named president and chief executive officer succeeding Lindsay L. Tait who remains chairman. It said Sargent who was senior vice president has also been named to the board. It said Tait intends to retire in about four years. Reuter | BRAINTREE SAVINGS <BTSB.O> NAMES NEW CEO |
Stelco Inc said it formed a 15 mln U.S. dlr joint venture with Northern Automatic Electric Foundry a wholly owned unit of Armco Inc to produce cast grinding media and mill lines for the mining industry worldwide. The venture will operate M E International a new company based in Minneapolis Minn. pooling the assets of a... | STELCO <STEA.TO> IN VENTURE WITH ARMCO <AS> |
Gemcraft Inc told shareholders at the annual meeting that the company and its principal shareholders will repurchase about 130000 shares of its common stock. The companys portion of the repurchase obligation equals about 800000 dlrs which the company said it plans to record as a capital transaction in 1987. Originally ... | GEMCRAFT <GEMH.O> TO BUY ABOUT 130,000 SHARES |
Investor Irwin Jacobs said he has an investment in Gillette Co amounting to less than five pct of the consumer products companys stock. Jacobs who made his comment in response to an enquiry did not comment further. Yesterday Gillette rebuffed a takeover proposal from Revlon Inc. Under an agreement between the two compa... | IRWIN JACOBS HAS GILLETTE <GS> STAKE |
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 Reuter | RAPITECH SYSTEMS INC <RPSY.O> 3RD QTR LOSS |
Rapitech Systems Inc said it has entered into an agreement under which its FORTRIX-C software is available to Hewlett-Packard Cos salesforce for assisting customers the migration of applications software from one operating environment to another. The company also said FORTRIX-C has been selected by American Telephone a... | RAPITECH <RPSY.O> IN HEWLETT PACKARD <HWP> DEAL |
Malaysia is to urge fellow tin producing countries to contribute more money towards research into new uses for the metal Malaysian primary industries minister Lim Keng Yaik told Reuters in an interview. Lim in Brussels on a tour of Europe and America said he had instructed Malaysias representatives on the executive com... | MALAYSIA TO RESEARCH TIN, WARY ON VEG OILS TAX |
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. Robin Relph of London. Under the agreement dated April 28 VR Business agreed to sell 5008120 shares of common stock and 118... | VR <VRBB.O> CLOSES STOCK SALE TO VR ACQUISITION |
April 30 end Shr 12 cts vs eight cts Net 316655 vs 148567 Sales 2011195 vs 1422719 Avg shrs 2738864 vs 1881296 Year Shr 43 cts vs 49 cts Net 1006356 vs 918290 Sales 7059446 vs 5441408 Avg shrs 2329329 vs 1881296 Reuter | MICROWAVE LABORATORIES INC <MWAV.O> 4TH QTR NET |
Monthly div 11.244 cts vs 10.309 cts prior Pay July 10 Record June 30 NOTE: Full name is Freeport-McMoRan Oil and Gas Royalty Trust Reuter | FREEPORT-MCMORAN OIL AND GAS<FMR> DISTRIBUTION |
The World Bank said it has loaned Uganda 13 mln dlrs through the International Development Association (IDA) the banks concessionary lending affiliate. The IDA loan will support a project that hopes to preserve the countrys natural forests and meet its demand for wood products by rehabilitating Ugandas forestry managem... | WORLD BANK LOANS UGANDA 13 MLN DLRS |
Liposome Co Inc at its annual meeting announced the formation of a Canadian subsidiary Canadian Liposome Co Ltd. It said the company cements a relationship with University of British Columbia researcher Pieter Cullis and his scientific group who are developing anti-cancer products for Liposome. The company also said le... | LIPOSOME <LIPO.O> FORMS CANADIAN SUBSIDIARY |
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. 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. Mid-... | FAIRLY HECTIC WEEK IN RAW SUGAR, WOODHOUSE SAYS |
Shr profit six cts vs loss one ct Net profit 80939 vs loss 12808 Rev 7.0 mln vs 6.3 mln Six months Shr profit eight cts vs loss one ct Net profit 101345 vs loss 10460 Rev 13.2 mln vs 12.5 mln Reuter | PASSPORT TRAVEL INC <PPTI.O> 2ND QTR MAY 31 NET |
Oper shr loss 32 cts vs loss 17 cts Oper net loss 2999000 vs loss 1692000 Sales 10.3 mln vs 11.5 mln Avg shrs 9517000 vs 9905000 NOTE: 1986 Operating loss excludes profit of 3688000 dlrs or 37 cts a share from discontinued operations Reuter | SAVOY INDUSTRIES INC <SAVO.O> 1ST QTR LOSS |
Qtly div 15 cts vs 15 cts prior Payable August 31 Record June 30 Reuter | ENTEX ENERGY DEVELOPMENT LTD <EED> QTLY DIV |
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. Mario Rodriguez Montero president of an Organization of American States special committee on trade said he was aware of... | LATIN, CARIBBEAN NATIONS OPPOSE TRADE BILLS |
Reed International Plc <REED.L> denied rumours on the U.K. Stock market that it was the target of a takeover bid and said it had received no approach. 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... | REED INTL DENIES BID APPROACH |
Applied Data Communications said it agreed to acquire privately-held Dateline Technology Inc of Redmond Wash. for an undisclosed amount of cash and stock. Dateline Technology designs and sells high-capacity high-speed computer peripheral subsystems primarily for data storage Applied Data said. Reuter | APPLIED DATA <ADCC.O> TO BUY DATELINE |
USA Network today said it has acquired Time Incs <TL> one-third interest in the network. The network formerly a joint venture between Time Gulf and Western Inc and MCA Inc <MCA> said that Gulf and Western and MCA who each previously held a one-third interest now will jointly own USA Network on a 50/50 basis. Term... | GULF AND WESTERN <GW> UPS INTEREST IN NETWORK |
Tektronix Inc said it began its previously announced Dutch Auction cash tender offer for up to 10 mln of its own common shares. Under the terms of the offer the company will select a single cash purchase price for the stock based on the number of shares tendered not to exceed 40 dlrs per share or be lower than 35 dlrs ... | TEKTRONIX <TEK> BEGINS DUTCH AUCTION TENDER |
Coastal Corps Coastal Limited Ventures Inc subsidiary said its offering of 14000 limited partnership units in the Coastal 1987 Drilling Program Ltd has been extended to July two or until all the units are solf if that occurs earlier. It said about eight mln dlrs in 1000 dlr units had been sold as of yesterday. The part... | COASTAL <CGP> EXTENDS OFFERING OF DRILLING UNITS |
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. Kay said the firm has annual sales of about 15 mln dlrs. Kay also said i... | KAY <KAY> TO ACQUIRE SPECIALTY FASTENER FIRM |
Larissa Industries Inc said it filed with the Securities and Exchange Commission for an initial public offering of two mln shares of common. All of the shares are being sold by Larissa which makes and markets component assemblies used in automobiles light trucks vans helicopters and other military vehicles and in nucel... | LARISSA INDUSTRIES FILES FOR INITIAL OFFERING |
Sunrise Medical Inc said it will close three facilities and take a fourth quarter charge of 625000 dlrs or 15 cents per share which will result in a fourth quarter loss. The company said net earnings for the year will be below the 1.8 mln dlrs earned last year. It also noted earnings for the year will be affected by a ... | SUNRISE MEDICAL <SNMD.O> SEES 4TH QTR LOSS |
New England Critical Care Inc said it completed its purchase of NPO Therapies Inc of Salt Lake City. The company said that NPO Therapies president and founder Kelly Mutchie has joined New England Critical Care as regional vice president covering the western United States. NPO Therapies provides home infusion therapy se... | NEW ENGLAND CRITICAL CARE <NECC.O> BUYS NPO |
A U.S. 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. Jon Rosenbaum an assistant U.S. trade representative just back from trade talks in Colombia said most p... | COLOMBIA HELPFUL BUT COFFEE QUOTAS UNCERTAIN--U.S. |
The Commodity Credit Corporation (CCC) has reallocated 1.3 mln dlrs in credit guarantees originally granted to cover the sale of protein meals to El Salvador so it may buy rice the U.S. Agriculture Department said. The action reduces the guarantee line authorized for sales of protein meals to 12.7 mln dlrs and creates ... | CCC CREDIT GUARANTEES TO EL SALVADOR REALLOCATED |
Jefferies Group Inc said it is making a market in Storage Technology Corp <QSTK.O>. The firm said the first bid was 3-1/2 and the first offer was 3-5/8. Reuter | JEFFERIES MAKING MARKET IN STORAGE TECHNOLOGY |
Moodys Investors Service Inc said it affirmed Delta Air Lines Incs 977 mln dlrs of debt and upgraded the ratings on Western Air Lines Incs 216 mln dlrs of debt securities. The agency cited Western Airs merger with Delta and Deltas assumption of Westerns debt. The action reflects Deltas continuing strong financial condi... | MOODY'S AFFIRMS DELTA <DAL>, UPGRADES WESTERN |
Moodys Investors Service Inc said it cut to B-2 from Ba-1 Diamond Bathurst Incs subordinated notes of 1995. Moodys said it expects the companys operating performance would be hurt by heightened competition and by the increasing inroads being made by other forms of packaging. It said Diamond should benefit from producti... | DIAMOND BATHURST <DBJ> DEBT DOWNGRADED BY MOODY'S |
Brazils crisis-ridden motor industry -- which is dominated by the subsidiaries of Volkswagen AG <VOWG.F> Fiat Spa <FIAT.MI> General Motor Corp <GM> and Ford Co <F> -- has not made a single domestic sale for the last four days and several assembly lines will stop shortly industry spokesmen said. The motor ma... | BRAZIL'S MOTOR INDUSTRY SUFFERS MAJOR SLOWDOWN |
U.S. Comptroller of the Currency Robert Clarke said his office is expanding a plan giving temporarily ailing but well managed national banks extra time to come into compliance with its minimum capital requirements. The policy which originally was intended to give well run banks in economically depressed areas more time... | U.S. BROADENS NATIONAL BANK CAPITAL FORBEARANCE |
AMERICAN EXPRESS, UNITS 6.3 BILLION DLRS OF DEBT AFFIRMED BY S/P | |
Standard and Poors Corp said it affirmed the debt ratings of Chrysler Corp and Chrysler Financial Corp following the automakers agreement to acquire Electrospace Systems Inc for 367 mln dlrs. It said the acquisition could easily be funded from existing cash balances still leaving Chrysler with an adequate level of prec... | CHRYSLER <C> AND FINANCIAL UNIT AFFIRMED BY S/P |
Qtly div four cts vs four cts in prior qtr Payable July 15 Record June 30 Reuter | AUTOCLAVE ENGINEERS INC <ACLV.O> DIVIDEND |
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. If the OPEC decides to increase crude oil production a traders said LPG supplies will be up without corresponding rise in demand. Petrochemical buyer... | INTERNATIONAL LPG PRICES STEADY IN QUIET MARKET |
After battling President Reagan all year Congress is about to pass a trillion dollar 1988 budget that sets the stage for even fiercer fighting over its tax and defence policies. But when the dust settles congressional budget analysts say Reagan and the Democratic opposition may finally sit down at a budget summit to ca... | U.S. BUDGET DUE FOR APPROVAL, TRUCE POSSIBLE |
Kleinwort Benson Australian Income Fund Inc Qtly div from investment income 30 cts vs 36.5 cts in prior qtr Payable July 17 Record July one Reuter | KLEINWORT BENSON AUSTRALIAN FUND <KBA> DIVIDEND |
Qtly div 18 cts vs 18 cts prior Pay August seven Record July three Reuter | HOSPITAL CORP OF AMERICA <HCA> SETS PAYOUT |
Former U.S. Secretary of State Henry Kissinger said the U.S. Government is disregarding the future of its economy and could within three to five years find itself on a situation similar to those of indebted Latin American countries. The United States will not be able to service its debt without austerity he told a news... | KISSINGER FORESEES ROUGH TIME FOR U.S. ECONOMY |
Unisys Corp said its Value Added Marketing organization signed an agreement with privately held VMark Computer Inc for remarketing of the Unisys 5000 and 7000 series of minicomputers with VMark software. Terms were not disclosed. Reuter | UNISYS <UIS> IN MARKETING AGREEMENT WITH VMARK |
The United States said Kuwait was discussing plans to lease privately-owned U.S. tankers to transport oil through the Gulf in addition to putting some of its own vessels under American flags. State Department spokeswoman Phyllis Oakley who made the disclosure about the tankers also told reporters the United States expe... | KUWAIT SEEN WANTING TO LEASE SOME U.S. TANKERS |
Environmental Power Corp said that Robert W. Baldridge has resigned from its board of directors effective June 17. Environmental develops owns and operates small power production hydropower and waste-energy plants. Reuter | ENVIRONMENTAL <POWER.O> BOARDMEMBER RESIGNS |
Senior officials from government and the ruling Revolutionary Institutional Party (PRI) rejected business sector calls this week to reprivatise the 26 Mexican banks nationalised five years ago. PRI president Jorge de la Vega speaking in Saltillo Coahuila state said the party would never permit reprivatisation because t... | MEXICO REJECTS CALLS TO REPRIVATISE BANKS |
DAYTON HUDSON SAID IT TOLD BUYER OF STOCK IT's not INTERESTED IN BEING ACQUIRED | |
Lloyds Bank Canada a unit of Lloyds Bank <LLOY.L> PLC said it appointed David Drake chief executive replacing David Lewis who will remain as vice-chairman effective June 30. The bank said that former president David Rattee resigned to pursue other interests. Drake 45 has served with Lloyds Bank since 1958 and is cur... | LLOYDS BANK CANADA NAMES NEW CHIEF EXECUTIVE |
Standard and Poors Corp said it affirmed 6.3 billion dlrs of debt of American Express Corp and related entities. Affirmed were American Express AA senior debt AA-minus subordinated debt and A-1-plus commercial paper. S and P cited the American Express banking units decision to set aside specific reserves for developing... | S/P AFFIRMS AMERICAN EXPRESS <AXP>, UNITS DEBT |
<Pacific Basin Development Corp> based in Vancouver British Columbia said it reached an agreement to buy 51 pct of T.E.A.M. Pacific Corp and its marketing arm for 4.2 mln U.S. dlrs. Pacific also said it expects ot earn three mln Canadian dlrs for the year ended June 30 1988 and 10 mln Canadian dlrs for the year ende... | PACIFIC BASIN TO ACQUIRE 51 PCT OF T.E.A.M. |
May 31 Shr loss 13 cts vs loss 4 cts Net loss 225000 vs loss 80000 Revs 11.8 mln vs 10.4 mln Avg shrs 1789165 vs 1789455 Reuter | ANDERSEN GROUP INC <ANDR.O> 1ST QTR MAY 31 |
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. A Dayton Hudson spokeswoman would not identify the buyer but Wall Street sources said Dart Group Corp <DARTA.O> was the company interested in buying Dayton Hudson stock. The Wall S... | DAYTON HUDSON <DH> NOT INTERESTED IN ACQUISITION |
Barnett Banks Inc and Home Federal Bank of Florida said they filed a suit against the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corp. The 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... | BARNETT BANKS <BBF> FILES AGAINST FEDERAL BOARD |
Environmental Power Corp said it filed a statement with the Securities and Exchange Commission for the offering of two mln shares of its common. All shares are being sold by the company and Drexel Burnham Lambert Inc is the sole manager of the offering. Environmental said 400000 dlrs of the net proceeds will be used to... | ENVIRONMENTAL <POWR.O> FILES FOR OFFERING |
SENIOR DEFENSE OFFICIAL SAYS PENTAGON HAS SUSPENDED BUSINESS WITH TOSHIBA | |
Chrysler Corp is taking a small step away from automobiles and towards military contracting with the purchase of Electrospace Systems Inc <ELE> analysts said. A chief goal of Chrysler is to gain military business for their Gulfstream planes and this should help that cause dramatically said analyst Gary Glaser at Fir... | CHRYSLER <C> MOVE CONTINUES TREND |
U.S. BUSINESS LOANS FALL 896 MLN DLRS IN JUNE 10 WEEK, FED SAYS | |
NYSE SAYS SHORT INTEREST UP 28.9 MLN SHARES FOR MONTH ENDED JUNE 15 | |
Business loans on the books of major U.S. banks excluding acceptances fell 896 mln dlrs to 275.61 billion in the week ended June 10 the Federal Reserve Board said. The Fed said that business loans including acceptances fell 546 mln dlrs to 278.12 billion dlrs. Reuter | U.S. BUSINESS LOANS FELL 896 MLN DLRS |
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 financi... | JUDGE TO RULE MONDAY ON BURLINGTON <BUR> CASE |
K.G. 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 <REED.L> for under 15 mln dlrs. Saur said Klaus Saur president and owner of the company will remain president of Saur opera... | <K.G. SAUR> SELLS ASSETS TO REED INTERNATIONAL |
AMEX SAYS SHORT INTEREST UP 123,002 SHARES FOR MONTH ENDED JUNE 15 | |
Shr 10 cts vs four cts Net 419000 dlrs vs 196000 dlrs Revs 27.3 mln dlrs vs 25.9 mln dlrs Note:the first quarter ended May 29 Reuter | AEL INDUSTRIES INC <AELNA.O> FIRST QTR NET |
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