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Distillate fuel stocks held in primary storage fell by 7.35 mln barrels in the week ended March 13 to 112.74 mln barrels from a revised 120.09 mln the previous week the American Petroleum Institute (API) said. In its weekly statistical bulletin the oil industry trade group said gasoline stocks fell 2.89 mln barrels to ... | API SAYS DISTILLATE, GAS STOCKS OFF IN WEEK |
Chevron Corps Chevron USA Inc is being awarded a 50.3 mln dlr Defense Logistics Agency contract for jet fuel the Defense Department said. It said work on the contract which was awarded as part of a multi-contract procurement program is expected to be completed by April 1988. Reuter | CHEVRON <CHV> UNIT GETS 50.3 MLN DLR CONTRACT |
The Pacific Stock Exchange said it was omitting todays closing report on the most active issues because of a computer malfunction at the exchange. Reuter | PACIFIC STOCK EXCHANGE HIT BY COMPUTER FAILURE |
Pfizer Inc said it expects to file a new drug application in the U.S. and in other markets this year for sertraline a treatment for depression. In its annual report Pfizer said that in addition to the drugs anti-depressant action sertraline is currently undergoing studies to explore its ability to promote weight loss. ... | PFIZER <PFE> STUDIES DRUG AS WEIGHT LOSS TOOL |
Qtly div 31 cts vs 31 cts prior Pay April 24 Record March 31 Reuter | CPC INTERNATIONAL INC <CPC> REGULAR DIVIDEND |
Shr 48 cts vs 64 cts Net 1959404 vs 2621778 Revs 5132626 vs 8167401 Reuter | <CIMARRON PETROLEUM LTD> NINE MTHS NET |
Pride Refining Co of Abilene Texas is being awarded a 75 mln dlr contract for jet fuel the Defense Department said. It said work on the contract which was awarded as part of a multi-contract procurement program is expected to be completed by April 30 1988. Reuter | PRIDE REFINING GETS 75 MLN DLR DEFENSE CONTRACT |
The Puerto Rico Sun Oil Co is being awarded a 42.4 mln dlr contract for jet fuel the Defense Department said. It said work on the contract which was awarded as part of a multi-contract procurement program is expected to be completed by April 1988. Reuter | PUERTO RICAN COMPANY GETS JET FUEL CONTRACT |
Shr profit 14 cts vs loss 55 cts Net profit 864000 vs loss 2.1 mln Revs 24.2 mln vs 1.5 mln Six months Shr profit seven cts vs loss 74 cts Net profit 434000 vs loss 2.7 mln Revs 42.5 mln vs 2.9 mln NOTE:1986 2nd qtr and six months includes loss of 600000 dlrs and 285000 dlrs respectively from discontinued operations an... | ELECTRO AUDIO DYNAMICS INC <EAD> 2ND QTR JAN 31 |
Shr profit 14 cts vs loss 17 cts Net profit 686000 vs loss 831000 Revs 24.2 mln vs 1.5 mln Six mths Shr profit 22 cts vs loss 17 cts Net profit 1062000 vs loss 812000 Revs 42.5 mln vs 2.9 mln NOTE: Quarter ends January 31. 1986 excludes extraordinary gain of six cts per share in the quarter and 10 cts in the six months... | TECHNODYNE INC <TND> 2ND QTR NET |
Period ended January 31 Shr 22 cts vs 16 cts Net 518564 vs 374198 Revs 2090724 vs 1614079 Reuter | <SCEPTRE INVESTMENT COUNSEL LTD> 1ST QTR NET |
Duff and Phelps Selected Utilities Inc said it approved payment of higher monthly dividends. The closed end-investment company approved payment of 4.5 cts on April 10 record March 31; of five cts payable May 11 record April 30; and of 5.5 cts payable June 10 record May 29. Duff and Phelps first monthly dividend of four... | D/P SELECTED UTILITIES <DNP> HIKES PAYOUTS |
Qtr ends Jan 31 Shr loss three cts vs loss six cts Net loss 93000 vs loss 191000 Revs 338000 vs 554000 Six mths Shr loss four cts vs loss seven cts Net loss 108000 vs loss 219000 Revs 854000 vs 1283000 NOTE: Company is 80 pct owned by Technodyne Inc <TND> a subsidiary of Electro Audio Dynamics Inc <EAD>. Reuter | AMERICAN ELECTROMEDICS CORP <AECO> 2ND QTR LOSS |
Boeing Cos Boeing Aerospace Co is being awarded 31.3 mln dlrs under a contract for spare and repair parts for the E-6A aircraft the Defense Department said. It said work on the contract is expected to be completed in December 1992. Reuter | BOEING <BA> UNIT GETS 31.3 MLN DLR NAVY CONTRACT |
Lennar Corp said it completed the previously announced acquisition of Development Corp of America <DCA>. Consequently it said the American Stock Exchange suspended trading of Development Corps common stock 10 pct subordinated debentures due 1993 and 12 pct subordinated debentures due 1994. Lennar said the debentures... | LENNAR <LEN> COMPLETES ACQUISITION |
The Sikorsky Aircraft division of United Technologies Corp is being awarded a 27.2 mln dlr contract modification for four Combat Search and Rescue Special Warfare Support helicopters the Defense Department said. It said work on the contract is expected to be completed in December 1992. Reuter | UNITED TECHNOLOGIES <UTX> GETS NAVY CONTRACT |
Iowa Beef Processors Inc said hundreds of its employees returned to work at its Dakota City Nebraska beef processing plant without incident. Last week Iowa Beef said it would lift a lockout in effect at the plant since mid-December which affected 2800 members of the United Food and Commercial Workers Union. Both union ... | IBP (OXY) PLANT REOPENS WITHOUT INCIDENT |
General Electric Cos Aircraft Engine Business Group is being awarded 27.4 mln dlr contract for ancillary equipment for the F110 engine and the F-14A aircraft the Defense Department said. It said work on the contract is expected to be completed in October 1988. Reuter | GE <GE> GETS 27.4 MLN DLR NAVY CONTRACT |
Oakwood Homes Corp said it filed with the Securities and Exchange Commission a registration statement covering a 25 mln dlr issue of convertible subordinated debentures due 2012. Proceeds will be invested in the companys unconsolidated finance subsidiary Oakwood Acceptance Corp Oakwood said. The company named Donaldson... | OAKWOOD HOMES <OH> TO SELL CONVERTIBLE DEBT |
Bristol-Myers Co said scientists at its Genetic Systems unit which markets a blood screening test for AIDS have created an AIDS vaccine which produced antibodies to the AIDS virus in mice and monkeys. The report said the vaccine will be tested in humans but company officials were not immediately available to comment on... | BRISTOL-MYERS <BMY> SAYS AIDS VACCINE PROMISING |
<John Labatt Ltd> is considering expansion in Europe but has made no decisions as to strategy according to spokesman I.C. Ferrier. The company opened a London office about six months ago and we are prepared to invest in that area to see how one might do business over there he said. But the company has not decided wh... | LABATT STUDYING EXPANSION IN EUROPE |
A U.S. Bankruptcy Judge ruled that <TransAmerican Natural Gas Corp> can not seek an injunction in Texas State court to block Coastal Corp <CGP> from presenting a plan of reorganization in TransAmericans bankruptcy proceeding. However U.S. bankruptcy judge Manuel Leal also ruled that TransAmerican could pursue its... | COURT BLOCKS INJUNCTION SOUGHT AGAINST COASTAL |
Shr 10 cts vs 10 cts Net 358941 vs 299838 Revs 8645289 vs 4532175 Avg shrs 3446752 vs 2921173 Nine mths Shr 23 cts vs 12 cts Net 705799 vs 491076 Revs 21.5 mln vs 11.0 mln Avg shrs 3093491 vs 4068000 Note: Net includes tax credits of 164000 dlrs vs 123634 dlrs for qtr and 311000 dlrs vs 207719 dlrs for nine mths. Reute... | PHP HEALTHCARE CORP <PHPH> 3RD QTR JAN 31 NET |
Qtly div 41.5 cts vs 41.5 cts prior Pay April 28 Record March 31 Reuter | BANKERS TRUST NEW YORK CORP <BT> QTLY DIVIDEND |
Shr loss nine cts vs profit 23 cts Net loss 418000 vs profit 1037000 Revs 2872000 vs 4700000 Six mths Shr profit nine cts vs profit 52 cts Net profit 418000 vs profit 2365000 Revs 6853000 vs 9379000 NOTE: Includes tax loss carryforward gains of 164000 dlrs vs 551000 dlrs in quarter and gains of 365000 dlrs vs 1016000 d... | HALLWOOD GROUP INC <HWG> 2ND QTR JAN 31 LOSS |
U.S. Agriculture Secretary Richard Lyng told representatives of several of the largest grain exporting firms and two farm organizations that he was not in a position to comment on their request that the Reagan administration offer subsidized wheat to the Soviet Union according to participants in todays meeting. He (Lyn... | LYNG SAID TO HAVE NO COMMENT ON USSR WHEAT EEP |
Avatar Holdings Inc said it is offering rights to buy 31.2 mln dlrs principle amount of 5-1/4 pct convertible subordinated debentures due 2007. The company said shareholders of record on March 17 have 30 days to exercise rights for the notes. Reuter | AVATAR HOLDINGS <AVTR> OFFERING RIGHTS TO NOTES |
The National Association of Securities Dealers said all stock exchanges should require that listed companies adopt a one-share one-vote rule but with a few exceptions. In a letter to the Securities and Exchange Commission NASD President Gordon Macklin said the group would be happy to be the first exchange to adopt a un... | U.S. OTC MARKET PROPOSES ONE-SHARE, ONE-VOTE |
Westworld Community Healthcare Inc said it is extending by ten days to March 27 its exchange offers for subordinated notes and debentures. The extension effects its exchange offers for 30 mln dlrs principal amount of 14-1/2 pct subordinated notes due 2000 and 35 mln dlrs principal amount of 14-3/8 pct subordinated debe... | WESTWORLD COMMUNITY <WCHI> EXTENDS EXCHANGE |
The National Energy Board said Trans Mountain Pipe Line Co Ltd will be allowed to raise its tolls 10.6 pct effective Jan 1 1987. Last September the board approved an average rate of return on equity of 14 pct effective Jan 1 1987. This rate of return is unchanged by todays decision. Reuter | TRANS MOUNTAIN ALLOWED 10.6 PCT TOLL RISE |
<Paperboard Industries Corp> said it planned to make an unconditional 21 dlr a share cash offer for <Belkin Inc>s 7.6 mln common and 2.3 mln non-voting shares. Paperboard said Balaclava Enterprises Ltd owned by Morris Belkin agreed to tender 98.2 pct of Belkins common shares. It added that in case of a competing ... | PAPERBOARD PLANS BID TO ACQUIRE BELKIN |
Hawkeye Bancorporation said shareholders at the annual meeting approved the bank holding companys debt restructuring package with its principal creditors. The plan calls for the company to issue new class of preference stock to Hawkeyes principal creditors in exchange for 32.3 mln dlrs of debt and an exchange offer to ... | HAWKEYE <HWKB> HOLDERS APPROVE DEBT PLAN |
CATHAY PACIFIC AIRWAYS 1986 NET PROFIT 1.23 BILLION H.K. DLRS VS 777.5 MLN | |
The Malaysian government has deposited 405 mln ringgit with the financially troubled <Cooperative Central Bank Bhd> (CCB) since last October Deputy Finance Minister Sabaruddin Chik said. He told Parliament the government has always supported CCB. The statement is the governments first acknowledgment that it has put ... | MALAYSIA SAYS IT DEPOSITED FUNDS IN AILING BANK |
Shr 46.5 H.K. Cents vs 29.3 Final div 14 cents making 20 cents (no comparison) Net 1.23 billion dlrs vs 777.5 mln Turnover 9.06 billion dlrs vs 7.52 billion Note - Dividend payable May 29 books close May 11 to 22. Note - Company floated in April 1986 and is now 50.23 pct owned by Swire Pacific Ltd <SWPC.HK> 16.43 pc... | CATHAY PACIFIC AIRWAYS LTD <CAPH.HK> YEAR 1986 |
A bomb blast at the Philippine Military Academy killed at least one person and wounded about 40 during rehearsals for a weekend visit by President Corazon Aquino military and hospital officials said. Reporters at the scene told Reuters the death toll was likely to rise but there was no official confirmation. Military s... | ONE DEAD AS PHILIPPINE ARMY SCHOOL BOMBED |
The Reagan administration will consider curbing foreign takeovers of security-sensitive industries such as semiconductors and computers the New York Times said quoting an unnamed senior administration official. I think theres a strong sentiment here that some industries are not totally up for grabs the paper quoted the... | PAPER SAYS U.S. MAY SEEK TO CURB FOREIGN TAKEOVERS |
Endaka the strong yen has usurped Godzilla Versus the Sea Monster as Japans favourite horror story. The yens 40 pct surge against the dollar over the last two years has frightened foreigners with tales of the 40 dlr melon the 120 dlr taxi ride from the airport and rents of 15000 dlrs a month. But endaka like many Japan... | YEN USURPS GODZILLA AS JAPAN'S FAVOURITE HORROR |
Trade sources here confirmed earlier tentative reports that Bangladesh had bought 200000 tonnes of optional origin feed wheat late last week and over the weekend. They said the Continental Grain Co of the United States won the contract to supply the wheat from the EC and other parts of Europe. It will supply 100000 ton... | BANGLADESH PURCHASE OF WHEAT CONFIRMED |
The Philippines Social Security System (SSS) is planning to buy eight mln shares in diversified brewer <San Miguel Corp> (SMC) SMC chief financial officer Ramon del Rosario said. He told reporters the government organisation had expressed interest in one seat on SMCs 15-man board and was preparing to invest 800 mln ... | PHILIPPINES SOCIAL SECURITY TO BUY SAN MIGUEL SHRS |
Shr 21.6 H.K. Cents vs 12 Final div six cents vs three making nine cents vs 5.5 Net 121 mln dlrs vs 67.42 mln Note - Extraordinary gains 72 mln dlrs vs 2.7 mln. Special bonus four cents vs nil. Dividend payable May 25 books close April 28 to May 6. REUTER | <SUN HUNG KAI CO LTD> YEAR 1986 |
Indonesia imports palm oil to counter possible May shortage, Trade Minister says | |
A very strong earthquake which struck southwest Japan killed one person and injured at least three cracked walls and cut telephone lines authorities said. The quake at 0336 GMT registered 6.9 on the Richter scale and officials issued warnings of tidal waves of up to two metres high they said. A man died in Miyazaki pre... | JAPAN EARTHQUAKE KILLS ONE, CUTS PHONE LINES |
Indonesia has issued licences to traders to import palm oil to avert a possible shortage of cooking oil during the Moslem fasting month of Ramadan in May Trade Minister Rachmat Saleh told Reuters. We have given permission for a small amount of imports to prevent a shortage during Ramadan he said. He gave no figures for... | INDONESIA TO IMPORT PALM OIL, FEARS MAY SHORTAGE |
Millions of dollars in proceeds from the sale of U.S. Arms to Iran were funneled to groups holding American hostages in Lebanon the New York Times said. The newspaper quoting U.S. Officials and others said Iranian arms merchant Manucher Ghorbanifar who served as a middleman in the sales deposited two to three mln dlrs ... | NY TIMES SAYS IRAN ARMS MONEY WENT TO KIDNAPPERS |
More U.S. And European firms will be falling prey to Japanese corporations bulging with cash and eager to extend their reach further overseas according to merger and acquisitions specialists polled by Reuters. Already rich Japanese companies have pounced on U.S. Banks steel and other businesses. In the latest attempt F... | ECONOMIC SPOTLIGHT - JAPAN BUYING OVERSEAS FIRMS |
United Biscuits pretax profit 125.2 mln stg vs 102.2 mln in 53 wks to Jan 3 | |
Kuwaiti Oil Minister Sheikh Ali al-Khalifa al-Sabah said in a newspaper interview that no OPEC member was exceeding oil production quotas allocated by the 13-nation group. Sheikh Ali told Kuwaits daily al-Anba All OPEC states without exception are producing within the quotas allocated to them. Some of them are producin... | KUWAIT SAYS NO OPEC MEMBER VIOLATING OUTPUT QUOTA |
Shr 20.3p vs 19.1p Div 6.0p vs 5.15p making 9.5p vs 8.0p Turnover 1.93 billion stg vs 1.91 billion Pretax profit 125.2 mln vs 102.2 mln Tax 42.5 mln vs 31.1 mln Trading profit 138.0 mln vs 122.7 mln Trading profit includes - UB Foods Europe 88.7 mln vs 78.4 mln UB Restaurants 10.3 mln vs same UB Foods U.S. 43.8 mln vs ... | UNITED BISCUITS <UBIS.L> 53 WEEKS TO JANUARY 3 |
U.K. Chancellor of the Exchequer Nigel Lawson said he expected British interest rates to fall soon in response to his fiscal 1987/88 budget but he did not say by how much. I would be very surprised if there is not a very early further fall in interest rates Lawson said in a radio interview. Analysts said they foresaw U... | LAWSON EXPECTS INTEREST RATE FALL SOON |
China said it will continue its efforts to cut excessive capital investment and noted policies to cool the economy have so far failed. Fixed asset investment grew 16.7 pct to 296.7 billion yuan in 1986 outstripping energy and raw materials growth the China Daily quoted Zhou Daojiong president of the Peoples Constructio... | CHINA TO CUT EXCESSIVE CAPITAL INVESTMENT FURTHER |
Officials of five Thai commercial banks are expected to meet tomorrow to seek agreement on cutting interest rates banking sources said. They said they expect Thai banks to opt for a cut to spur domestic loan demand to help reduce persistent high liquidity on the money market. Many bankers have been urging an average ha... | THAI BANKS WEIGH NEW INTEREST RATE CUT |
Cathay Pacific Airways Ltd <CAPH.HK> forecast another good year in 1987 in view of good growth in both passenger and cargo traffic volumes early this year over the year-earlier period. The airline did not quantify its performance in early 1987 but said it would take delivery of one Boeing Co <BA.N> 747 freighter ... | CATHAY PACIFIC FORECASTS GOOD 1987 PERFORMANCE |
Malaysian palm kernel output fell to an estimated 80500 tonnes in February from a revised 83231 (originally 83700) in January and 98393 in February 1986 the Palm Oil Registration and Licensing Authority said. Palm kernel stocks dropped to an estimated 45870 tonnes in February from a revised 55693 (65100) in January and... | MALAYSIAN PALM KERNEL OUTPUT FALLS IN FEBRUARY |
Morgan Grenfell 1986 pretax profit 82.19 mln stg vs 68.82 mln | |
Shr basic 39.2p vs 36.0p Shr fully diluted 37.2p vs 34.3p Div 7.0p making 10.5p vs 8.5p Pretax profit 82.19 mln stg vs 68.82 mln Tax 27.25 mln vs 27.42 mln Minority interest 986000 debit vs 124000 credit Extraordinary items 411000 credit vs 219000 debit REUTER | <MORGAN GRENFELL GROUP PLC> 1986 YEAR |
Global trading of yen bond futures is just around the corner and they are expected to be listed soon on the London International Financial Futures Exchange (LIFFE) and the Chicago Board of Trade (CBOT) bond managers said. Internationalisation of the yen through expansion of overseas portfolios in yen assets is the key ... | GLOBAL TRADING IN YEN BOND FUTURES EXPECTED SOON |
Six months to Dec 31. Shr 16 H.K. Cents vs 11 Interim div seven cents vs five Net 211.03 mln dlrs vs 138.69 mln Turnover 583.83 mln dlrs vs 441.04 mln Note - Dividend payable May 4 books close April 21 to 27. REUTER | HENDERSON LAND DEVELOPMENT CO LTD <HNDH.HK> |
The Bank of England said it had invited an early round of bill offers from the discount houses after forecasting a shortage in the system of around 1.1 billion stg. Money market dealers speculated that the central bank could be taking the opportunity to signal a reduction in U.K. Base lending rates by cutting the rates... | U.K. MONEY MARKET OFFERED EARLY ASSISTANCE |
Conditions on the floating rate note market appeared to be returning gradually to normal today with prices static to a little better generally dealers said. The market was showing limited signs of recovery from the collapse in trading last night and the calmer tone was reinforced this morning as the first significant r... | FRN TRADING SEEN RETURNING TO MORE NORMAL PATTERNS |
The Singapore government has taken over 82 mln dlrs worth of Goodwood Park Hotel Ltd shares and loan stock certificates belonging to the companys chairman Khoo Teck Puat banking sources said. Khoo is a major shareholder of the <National Bank of Brunei Bhd> (NBB) which closed in November after the Brunei authorities ... | SINGAPORE GOVERNMENT TAKES OVER GOODWOOD SHARES |
BANK OF ENGLAND SIGNALS HALF POINT CUT IN SHORT TERM RATES - DEALERS | |
Turner and Newall Plc said it planned to raise a net 71.7 mln stg with a one-for-six rights issue of 36.15 mln shares. The shares would be offered at 205p compared with Turners price which fell to 227p from last nights close at 241p. The group said the funds would be used to cut borrowings which had risen to 234 mln st... | TURNER AND NEWALL SEEKS 71.7 MLN STG IN RIGHTS |
BANK OF ENGLAND SAID IT INVITED BORROWINGS AT 10 PCT LATER TODAY | |
BARCLAYS BANK SAID ITS CUTTING BASE LENDING RATE TO 10 PCT PCT FROM 10.5 PCT. | |
NATIONAL WESTMINSTER BANK SAID IT CUTTING BASE RATE TO 10 PCT FROM 10.5 PCT. | |
<Airod Sdn Bhd> said it won a contract from the U.S. Air Force to repair and service landing gear and airframe parts of General Dynamics Corp <GD.N> F-16 and McDonnell Douglas Corp <MD.N> F-4 jet fighters. The one-year contract worth 1.3 mln ringgit was signed recently and work is expected to begin soon an Air... | MALAYSIAN FIRM WINS U.S. JET SERVICE CONTRACT |
The state-owned Philippine National Bank (PNB) will fund Toyota Motor Corps <TOYO.T> planned purchase of its bankrupt former local partners manufacturing facilities for at least 193 mln pesos a bank official told reporters. Toyota has informed the Philippine government it plans to produce cars again here in joint ve... | TOYOTA MOTORS SIGNS PURCHASE AGREEMENT WITH PNB |
The Bank of England said it had invited those discount houses wishing to use borrowing facilities to do so at 1430 GMT today at a rate of 10 pct for 14 days. This compares with the Banks present band one dealing rate of 10-3/8 pct. The Bank of Englands announcement was quickly followed by Barclays Bank and National Wes... | BANK OF ENGLAND INVITES BORROWING AT 10 PCT |
Sri Lankas external debts rose to 83.84 billion rupees in November from 83.23 billion in the previous month and 67.28 billion in November 1985 the Central Bank said in its monthly bulletin said. The rise was due mainly to increases in commodity loans from aid donor countries to 27.39 billion from 26.96 billion and 22.3... | SRI LANKAN EXTERNAL DEBT ROSE IN NOVEMBER |
West German producer prices fell 0.3 pct in February from January and were 4.2 pct below prices in February last year the Federal Statistics Office said. In January producer prices rose 0.2 pct from December the first monthly rise since October 1985 but they were down 4.4 pct from a year earlier. The Statistics Office ... | GERMAN PRODUCER PRICES FALL 0.3 PCT IN FEBRUARY |
Net profit 25.5 mln Swiss francs vs 22.2 mln Turnover 717 mln vs 739 mln Cash flow 75.4 mln vs 58.1 mln Proposed dividend 70 francs vs same Note - Company plans one for two rights issue of 40000 participation certificates of nominal 50 francs. Conditions not yet set. REUTER | HOLZSTOFF AG <GHOZ.BS> 1986 YEAR |
The sale of the governments 25.55 pct stake in VEBA AG <VEBG.F> is still expected this month banking sources closely linked with the transaction said. A spokesman for the Finance Ministry said no exact date had yet been set for the privatisation which the government has tabled for the second half of March. However h... | VEBA SHARE PLACEMENT STILL EXPECTED THIS MONTH |
Building materials group Boral Ltd <BOAL.S> said it will raise 100 mln Aus dlrs by placing 20 mln 7.5 pct convertible notes with institutions at 5.00 dlrs each. The proceeds will refinance existing group liabilities it said in a statement. Interest will be payable over the next five years in half-yearly instalments ... | BORAL TO RAISE 100 MLN DLRS BY NOTES ISSUE |
A leading Soviet economist said the practice of padding figures was significantly inflating the countrys industrial production data. According to the information of state monitoring organs the padding of figures makes up one-and-a-half to three per cent of the volume of production Alexei Sergeyev told the official news... | SOVIET ECONOMIST SAYS PRODUCTION FIGURES PADDED |
Sony Corp <SNE.T> group net income is expected to be down 65 pct for the five months ending March 31 from the same period a year ago at around 10 billion yen if the yendollar rate remains at the present level managing director Tsunao Hashimoto told a press conference. Sony will have an irregular five-month bus... | SONY FORESEES CONTINUED SLUMP IN EARNINGS |
<Associates Corp of North America> is issuing a 15 billion yen eurobond due November 2 1992 with a five pct coupon and priced at 102-3/8 <IBJ International Ltd> said as lead manager. The non-callable bonds will be issued in denominations of one mln yen and will be listed in Luxembourg. Fees are 1-1/4 pct for sell... | ASSOCIATES CORP ISSUES 15 BILLION YEN BOND |
F. Hoffmann-La Roche und Co AG <HOFZ.Z> said it introduced a new anti-rheumatism drug with the brand name tilcotil on the Swiss market starting today. The drug developed by Roche itself contains the substance tenoxicam. The company said in a statement that tests had shown its effectiveness against various types of r... | ROCHE INTRODUCES NEW ANTI-RHEUMATISM DRUG |
British Land Co Plc is issuing a 30 mln stg convertible eurobond due March 26 2002 with an indicated coupon of 7-1/4 pct to 7-3/4 pct and priced at 101-3/4 pct lead manager Credit Suisse First Boston Ltd said. The price will be fixed on or before March 24 at a premium of between 25 and 28 pct over the share price. Ther... | BRITISH LAND ISSUES 30 MLN STG CONVERTIBLE BOND |
Chrysler Credit Canada Ltd is issuing a 75 mln Canadian dlr eurobond due Aoril 15 1993 with a 9-1/4 pct coupon and priced at 101-1/2 pct Orion Royal Bank Ltd said as lead manager. The non-callable bonds will be listed in Luxembourg and will be issued in denominations of 1000 and 10000 dlrs. Total fees of 1-7/8 pct comp... | CHRYSLER CREDIT CANADA ISSUES 75 MLN CAN DLR BOND |
Dunhill Holdings Plc a subsidiary of Rothmans International PLC <ROT.L> has appointed Chemical Bank International Ltd as sole dealer for a 50 mln U.S. Dlr and sterling commercial paper program Chemical said. The paper will be sold in denominations of 500000 dlrs and have maturities of seven to 364 days. Chemical Ban... | DUNHILL HOLDINGS ARRANGES 50 MLN DLR/STG PROGRAM |
NV KLM Royal Dutch Airlines <KLM.AS> is absolutely not negotiating a takeover of U.S. Regional carrier Air Atlanta a KLM spokeswoman said in a comment on an article in the leading Dutch evening paper NRC Handelsblad. U.S. Law requires that at least 75 pct of shares in a U.S. Airline be owned by American firms or per... | KLM DENIES PRESS REPORT OF AIR ATLANTA TAKEOVER |
West German new car registrations in February increased by 31 pct over Januarys figure but trailed the February 1986 total by 2.9 pct the Federal Motor Office said. February new car registrations totalled 190175 compared with the year ago figure of 195852 and last months 145122. New car registrations in January had fal... | WEST GERMAN NEW CAR REGISTRATIONS RISE IN FEBRUARY |
An internal report produced by the Belgian National Bank foresees the countrys gross national product growth falling in 1987 to 1.0 pct from 2.3 pct in 1986 the independent newspaper Le Soir said. A National Bank spokesman said the newspaper article was basically correct but that the report was produced six weeks ago a... | BELGIAN BANK SAID TO SEE SLOWER GROWTH |
Spains consumer price index rose 0.4 pct in February after increases of 0.7 pct the previous month and 0.4 pct in February last year National Statistics Institute figures show. Year-on-year inflation was six pct compared with the government five pct target for 1987. It rose 8.3 pct last year. REUTER | SPAIN'S INFLATION RISES 0.4 PCT IN FEBRUARY |
The joint committee of Taiwans maize importers awarded contracts to five U.S. Companies to supply a total of 462000 tonnes of maize for delivery between May 10 and October 10 a committee spokesman said. Cigra Inc won a contract for a cargo of 56000 tonnes priced at 79.41 U.S. Dlrs per tonne fob pacific northwest port f... | TAIWAN BUYS 462,000 TONNES OF U.S. MAIZE |
Credit Lyonnais is issuing a 19 billion yen zero coupon eurobond due April 15 1992 priced at 81.22 pct lead manager Nomura International Ltd said. The bond is available in denominations of 10 mln yen and will be listed in Luxembourg. Credit Lyonnais is joint lead. Fees comprise 85 basis points selling concession and 70... | CREDIT LYONNAIS ISSUES ZERO COUPON YEN BOND |
Deutsche Babcock AG <DBCG.G> said an issue price of 165 marks had been set on a two-for-five rights issue of shares which will raise nominal capital by 100 mln marks to 350 mln marks. The subscription period for the offer runs from March 26 to April eight it added. Babcock shares opened at 222.2 marks in Frankfurt a... | DEUTSCHE BABCOCK RIGHTS ISSUE PRICED AT 165 MARKS |
Peking backed <China Everbright Holdings Co Ltd> said it signed an accord with a unit of U.S. Based Lotus Development Inc <LOTS.O> to form a joint venture cathode ray tube manufacturing plant in Hong Kong. An Everbright statement said the company will have a 26 pct share in the 70 mln U.S. Dlr worth <Everbrigh... | CHINA EVERBRIGHT AND LOTUS IN H.K. JOINT VENTURE |
Suspected communist rebels bombed the Philippine Military Academy and injured at least 20 soldiers many of them senior officers the state-run Philippine News Agency (PNA) said. Quoting military sources it said a bomb had exploded at 0200 gmt at the academy in Baguio north of Manila. The bomb exploded during rehearsals ... | PHILIPPINE ARMY ACADEMY BOMBED |
A kidnapped Saudi Arabian diplomat has been freed in Beirut after 64 days in captivity witnesses said. They identified him as Bakr Damanhuri responsible for Saudi Arabian students at Beirut universities. Damanhuri appeared at a news conference given by Shiite Moslem Amal militia leader Nabih Berri Syrias military intel... | SAUDI HOSTAGE FREED IN BEIRUT |
West German finance minister Gerhard Stoltenberg suggested that the U.K. Should join the European Monetary System (EMS) and also urged some member countries to abandon their dual currency structures. Stoltenberg was speaking at a meeting of the Committee for a Currency Union in Europe whose key members are former West ... | STOLTENBERG URGES U.K. ENTRY INTO EMS |
<Associates Corp of North America> is issuing a 15 billion yen eurobond due November 2 1992 with a five pct coupon and priced at 102-3/8 <IBJ International Ltd> said as lead manager. The non-callable bonds will be issued in denominations of one mln yen and will be listed in Luxembourg. Fees are 1-1/4 pct for sell... | ASSOCIATES CORP ISSUES 15 BILLION YEN BOND |
LAWSON SAYS HE IS CONTENT WITH CURRENT STERLING EXCHANGE RATE | |
Talks are underway between financially troubled Zaire and the International Monetary Fund (IMF) aimed at rescuing the economy of the second largest nation in sub-Saharan Africa. Diplomatic and banking sources in Kinshasa agreed that a compromise formula could be reached in the coming weeks enabling pro-Western Zaire to... | ZAIRE AND IMF IN ECONOMIC RESCUE TALKS |
A parliamentary boycott by opposition members has forced the government to compile its largest-ever provisional budget finance ministry officials said. The 7900 billion yen budget for the first 50 days of fiscal 1988 starting April exceeds the previous record of 3040 billion yen for an 11-day budget in fiscal 1984. An ... | JAPAN TO ADOPT ITS LARGEST-EVER PROVISIONAL BUDGET |
A very strong earthquake that struck southwest Japan killed one person and injured at least three cracked walls and cut telephone lines authorities said. The quake at 0336 GMT registered 6.9 on the Richter scale and officials issued warnings of tidal waves of up to two metres high they said. A man died in Miyazaki pref... | JAPAN EARTHQUAKE KILLS ONE, CUTS PHONE LINES |
LAWSON SAYS HE FAVOURS GRADUAL APPROACH TO CUTS IN U.K. INTEREST RATES | |
The Bank of England said it revised up its estimate of the deficit in the system today to 1.3 billion stg from 1.1 billion. The Bank has not provided any assistance to the market so far today but earlier invited the discount houses to use their borrowing facilities at 1430 GMT today and set the terms at 10 pct for 14 d... | U.K. MONEY MARKET SHORTAGE FORECAST REVISED UP |
Chancellor of the Exchequer Nigel Lawson said he was content with the current level of sterling and welcomed todays announcement of a further half point cut in British bank base lending rates to 10 pct. However he said he wanted to see a gradual approach to declines in domestic U.K. Interest rates although optimism in ... | LAWSON HAPPY WITH STERLING, BACKS LATEST RATE CUT |
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