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Media group John Fairfax Ltd <FFXA.S> said that its flat first half net profit partly reflected the impact of changes in the Australian tax system. Fairfax earlier reported net earnings edged up 2.3 pct to 25.94 mln dlrs in the 26 weeks ended December 28 from 25.35 mln a year earlier although pre-tax profit rose 9.1... | FAIRFAX SAYS HIGHER TAX HITS FIRST HALF EARNINGS |
The Bank of France sold 1.6 billion francs of 8.50 pct March 1987/99 Caisse de Refinancement Hypothecaire (CRH) state-guaranteed tap stock at an auction the Bank said. Demand totalled 6.82 billion francs and prices bid ranged from 93.50 to 96.60 pct. The minimum accepted price was 95.50 pct with a 9.13 pct yield while ... | BANK OF FRANCE SELLS 1.6 BILLION FRANCS CRH TAP |
Shr 6.56p vs 50.31p Final div 6p making 8p vs 13p. Pre-tax profit 134 mln stg vs 759 mln. Net profit 33 mln vs 253 mln. Turnover 978 mln stg vs 1.80 billion. Extraordinary debit 50 mln vs nil. Operating profit 149 mln stg vs 756 mln. Exceptional debit on rationalisation programme 12 mln vs nil Petroleum Revenue Taxes 7... | BRITOIL PLC <BTOL.L> 1986 YR |
 (EMBARGOED FOR RELEASE AT 1130 GMT THURS MARCH 19) ******UK FEB ADJUSTED UNEMPLOYMENT FELL 44100 TOTAL 3.07 MLN OR 11.1 PCT - OFFICIAL  | |
UK UNIT WAGE/LABOUR COSTS ROSE 3.3 PCT IN THREE MONTHS ENDING JAN - OFFICIAL | |
UK AVERAGE EARNINGS ROSE 7.6 PCT IN JANUARY, UNDERLYING RISE 7.5 PCT - OFFICIAL | |
U.K. FEBRUARY ADJUSTED STERLING M3 RISES 2-1/4 PCT, M0 DOWN 3/4 TO ONE PCT - OFFICIAL | |
Shr 14.58p vs 7.86p Div 6.5p making 9.75p an increase of 19.4 pct Pretax profit 83.2 mln stg vs 31.5 mln Net after tax 68.6 mln stg vs 37.7 mln Pretax profit 83.2 mln stg vs 31.5 mln consists of - Long term business 45.9 mln stg vs 43.8 mln U.S. Long term business 6.2 mln vs 8.9 mln Fund management 4.7 mln vs 6.5 mln S... | LEGAL AND GENERAL GROUP PLC YEAR 1986 |
FEB STERLING BANK LENDING UP 2.9 BILLION STG AFTER 1.75 RISE IN JAN - OFFICIAL | |
UK FEB ADJUSTED UNEMPLOYMENT FELL 44,100 TOTAL 3.07 MLN OR 11.1 PCT - OFFICIAL | |
The Ministry of International Trade and Industry will ask Japanese computer microchip makers to further slash output in the second quarter in an effort to save its semiconductor pact with the United States MITI officials said. The United States has accused Japan of reneging on the semiconductor pact by failing to stop ... | JAPAN TO ASK CHIP MAKERS TO SLASH OUTPUT FURTHER |
Clearing bank sterling lending to the U.K. Private sector in February is estimated to have risen by an underlying seasonally-adjusted 1.6 billion stg after a 1.2 billion stg rise in January the Banking Information Service said. The unadjusted rise was 1.31 billion stg compared with an 813 mln stg increase in January. T... | U.K. CLEARING BANK LENDING RISES 1.6 BILLION STG |
Unemployment in the U.K. Fell a provisional seasonally-adjusted 44100 in February to total 3.07 mln or 11.1 pct of the workforce the Employment Department said. In January seasonally adjusted unemployment fell by a revised 1100 to 11.3 pct it said. Initially the January position was reported as flat. The unadjusted job... | U.K. UNEMPLOYMENT FALLS IN FEBRUARY |
The main measure of U.K. Broad money sterling M3 grew a provisional seasonally adjusted 2-1/4 pct in February after a rise of 1.1 pct in January the Bank of England said. The narrow measure M0 fell a provisional adjusted 3/4 to one pct after a 0.6 pct drop in January the Bank said. Unadjusted annual growth in sterling ... | STERLING M3 UP 2-1/4 PCT IN FEBRUARY, M0 DOWN |
U.K. Average earnings rose a seasonally adjusted 7.6 pct in the year to end-January after a 7.4 pct rise in the year to December the Department of Employment said. The underlying rise was 7.5 pct after 7.75 pct in December. The January index base 1980 was set at a provisional seasonally adjusted 190.4 down from 193.4 i... | U.K. EARNINGS RISE 7.6 PCT IN YEAR TO JANUARY |
U.K. Property company MEPC Plc is issuing a 75 mln stg eurobond due April 15 2004 paying 9-7/8 pct and priced at 99-5/8 pct lead manager County Natwest Capital Markets said. The bond is in partly paid form with 25 pct due on April 15 and the remainder on July 15. It will be available in denominations of 1000 and 10000 ... | MEPC ISSUES PARTLY PAID EUROSTERLING BOND |
Nomura International Finance Plc is issuing a 150 mln dlr eurobond due April 28 1992 with a 7-1/4 pct coupon and priced at 101-1/8 pct Nomura International Ltd said as lead manager. The transaction carries the guarantee of Nomura Securities. Bonds will be issued in denominations of 5000 dlrs and will be listed in Londo... | NOMURA INTERNATIONAL FINANCE ISSUES EUROBOND |
AB Volvo is issuing a 70 billion eurolire bond due May 31 1990 paying 10-1/8 pct and priced at 100-1/2 pct lead manager Banca Commerciale Italiana said. The bond is available in denominations of two mln lire and will be listed in London. Fees comprise 7/8 pct selling concession with 1/2 pct for management and underwrit... | VOLVO ISSUES 70 BILLION EUROLIRE BOND |
Finance Minister Gerhard Stoltenberg said he was looking for ways to help finance a planned tax reform without increasing value-added tax but could not rule out raising some indirect taxes for example on tobacco. Stoltenberg also told parliament that closing tax loopholes would contribute towards the 19 billion marks t... | STOLTENBERG CONSIDERS RAISING SOME INDIRECT TAXES |
The Bank of England said it revised down its estimate of the deficit in the system today to 400 mln stg from 450 mln. REUTER | U.K. MONEY MARKET SHORTAGE FORECAST REVISED DOWN |
A Westdeutsche Landesbank Girozentrale (WestLB) unit is raising 50 mln Australian dlrs through a five-year bullet eurobond with a 14-3/8 pct coupon and priced at 101-1/2 co-lead manager WestLB said. The bond for WestLB Finance N.V. Is guaranteed by the parent. Investors will pay for the bond on April 15 and the bond pa... | WESTLB ISSUES 50 MLN AUSTRALIAN DLR EUROBOND |
Ecuador is seeking between 437 and 450 mln dlrs in loans this year from multilateral organisations and foreign governments to grapple with economic losses from a devastating earthquake 13 days ago a presidential economic adviser said. Foreign governments and multilateral organisations hold one-third of Ecuadors 8.16 bi... | ECUADOR SEEKS 450 MLN DLRS IN EMERGENCY CREDIT |
Some 7000 black workers returned to work after staging one-day strikes at two mines on Monday the National Union of Mineworkers and the companies that own the mines said. About 6000 miners resumed work at the Grootvlei gold mine east of Johannesburg after protesting the transfer of colleagues to other jobs at the same ... | SOME 7,000 SOUTH AFRICAN MINERS RETURN TO WORK |
<Nippon Life Insurance Co> is pursing a possible link with an American securities house to expand its overseas investment portfolio a company spokesman said. But he declined to comment on rumours the company would take a 10 pct stake in <Shearson Lehman Brothers> an investment banking unit of American Express Co ... | NIPPON LIFE SEEKING TIE WITH U.S. SECURITIES HOUSE |
Bundesbank says it leaves credit policies unchanged | |
West German car and van production rose to 389900 in February from 380900 in February 1986 the German Automobile Industry Association VDA said in a statement. Production of trucks of up to six tonnes fell sharply to 11500 from 14600 owing to a cut in production of small delivery vans of up to two tonnes. Total vehicle ... | WEST GERMAN CAR OUTPUT RISES IN FEBRUARY |
The Bank of England said it provided the money market with 181 mln stg in assistance this morning. This compares with the Banks revised shortage forecast of around 400 mln stg. The central bank purchased bank bills outright at the new dealing rates established yesterday. These comprised 65 mln stg in band one at 9-7/8 ... | U.K. MONEY MARKET GIVEN 181 MLN STG ASSISTANCE |
The Tokyo Regional Taxation Bureau has imposed a penalty tax on <Fuji Bank Ltd> for alleged improper use of tax-free reserves a bank spokeswoman told Reuters. She declined to reveal the banks planned response but another bank official said it has not paid the penalty. The bank said in a brief statement it believes t... | FUJI BANK ACCUSED OF MISUSE OF TAX FREE RESERVES |
Liquidity in the Philippines rose in December while loan demand and short-term lending rates fell the Central Bank said. A bank official said M-3 rose 9.72 pct to a provisional 149.80 billion pesos at the end of December from a month earlier for a year-on-year gain of 12.72 pct. She said short-term bank lending rates f... | PHILIPPINES' LIQUIDITY RISES, LOAN DEMAND FALLS |
Sanwa Bank Ltd <ANWA.T> has agreed to buy a two pct stake in Oporto-based <Banco Portugues de Investmento Sarl> (BPI) Portugals largest merchant bank a Sanwa official said. Sanwa will purchase the shares from International Finance Corp a BPI shareholder and sister organisation of the World Bank for 351 mln yen he... | SANWA BANK ACQUIRES SMALL STAKE IN PORTUGUESE BANK |
The Bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries. The West German discount rate remains at 3.0 pct and the Lombard emergency financing rate at 5.0 pct. REUTER | BUNDESBANK LEAVES CREDIT POLICIES UNCHANGED |
There is no question of stimulating consumption or relying on a systematic budget deficit or other reflationary policies to boost the French economy sources close to finance minister Edouard Balladur said. Their comments followed remarks by prime minister Jacques Chiracs spokesman Denis Baudouin who said on Monday mini... | NO FRENCH REFLATION, SOURCES CLOSE TO BALLADUR SAY |
The Banking Commission is reviewing the present three-tier banking system and its newly established capital adequacy ratio banking commissioner Robert Fell said. He told a news conference his office has had talks with the Bank of England and the U.S. Federal Reserve Board on risk-based capital ratios following an agree... | H.K. REVIEWS BANKING STRUCTURE, CAPITAL RATIO |
The Australian dollar eurobond launched yesterday for the Republic of Austria has been increased to 75 mln dlrs from the original 50 mln Credit Suisse First Boston Ltd said as lead manager. The five year transaction has a 14-1/4 pct coupon and was priced at 101-3/4 pct. REUTER | AUSTRIA INCREASES BOND TO 75 MLN AUSTRALIAN DLRS |
Cheltenham and Gloucester Building Society is issuing a 50 mln stg eurobond due April 22 1992 paying 9-1/4 pct and priced at 101-1/4 pct lead manager Union Bank of Switzerland (Securities) Ltd said. The bond will be available in denominations of 1000 stg and will be listed in Luxembourg. Fees comprise 1-1/4 pct selling... | U.K. BUILDING SOCIETY TAPS EUROSTERLING MARKET |
Brisk increases in personal income and consumption are to appear in February data released today but the bond markets recent sluggishness suggests there will be no major price reaction unless the rises are much larger than expected economists said. Personal income is forecast to rise by 0.6 to 0.8 pct compared with no ... | U.S. CREDIT MARKET OUTLOOK - SPENDING, M-1 |
American soybean producers and processors are hoping the proposed EC tax on vegetable oils and fats will not be imposed but say the U.S. Is prepared to retaliate if it is introduced. Wayne Bennett the American Soybean Associations first vice president told a news conference the U.S. Administration would not hesitate to... | U.S. DELEGATION HOPES FOR VEG OILS TAX DEFEAT |
The banking sector has regained its stability after a protracted period of difficulty banking commissioner Robert Fell said. The banking climate has dramatically changed from a year ago he said at a news conference to present his annual report on the banking sector for 1986. Weve got confidence back. Weve got profitabi... | H.K. BANKING SECTOR STABLE, OFFICIAL SAYS |
AMERICAN EXPRESS SAYS IT'S HOLDING TALKS ON SALE OF SHEARSON STAKE TO NIPPON LIFE | |
The Federal Home Loan Bank Board (FHLBB) announced today the replacement of a closed Santa Ana Calif. savings bank in the 15th federal action assisting troubled U.S. savings institutions this year. The FHLBB said Perpetual Savings Bank in Santa Ana was put into receivorship because it was insolvent and was replaced by ... | SAVINGS BANK CLOSED, 15TH TROUBLED U.S. S&L OF YEAR |
American Express Co said it and its Shearson Lehman Brothers Inc subsidiary have been holding talks on the possible equity investment in Shearson Lehman by <Nippon Life Insurance Co> of Japan. The company said The discussions have led to a general understanding by which Nippon Life would purchase a 13 pct equity inv... | AMERICAN EXPRESS <AXP> MAY SELL SHEARSON STAKE |
Xerox Corp has decided to stop selling personal computers as standalone products a company spokesman said. The spokesman said As a first priority were selling PCs as part of preconfigured systems mostly desktop publishing systems and not by themselves anymore. He said Xerox does not expect to take any material charge f... | XEROX <XRX> TO STOP SELLING PC'S BY THEMSELVES |
The financial rand widely viewed as a direct reflection of foreign investor confidence in South Africa appears headed above 30 U.S. Cents dealers and bank economists said. The currency has risen about 25 pct in the past three months to its current rate of 29.50 cents due partly to signs of a possible power shift with t... | S.AFRICA'S FINANCIAL RAND SEEN HEADED HIGHER |
Former White House aide Michael Deaver a long-time confidant of President Reagan has been indicted on charges of lying about his contacts as a Washington lobbyist with top U.S. Government officials. The five-count perjury indictment charged that Deaver lied in sworn testimony to Congress and before the grand jury inves... | EX-REAGAN AIDE DEAVER INDICTED ON PERJURY CHARGES |
Fi-Tek Corp said it has signed a letter of intent to acquire <Voice Systems and Services Inc> for an undisclosed amount of stock. It said on completion of the acquisition it would change its name to Voice Systems and Services Inc. It said VBoice Systems has received a 3600000 dlr contract to provide FLP Communicatio... | <FI-TEK CORP> TO MAKE ACQUISITION |
First Wisconsin Corp said it has agreed to acquire North Shore Bancorp Inc of Northbrook Ill. for 6160000 dlrs in cash or slightly more than twice book value subject to approval by North Shore shareholders and regulatory authorities. The company said completion is expected in the third quarter. Reuter | FIRST WISCONSIN <FWB> TO MAKE ACQUISITION |
Italys overall balance of payments showed a surplus of 1461 billion lire in February 1987 compared with a deficit of 1145 billion in January provisional Bank of Italy figures show. The February surplus compared with a deficit of 1578 billion lire in the same month for 1986. For the first two months of 1987 the balance ... | ITALY'S FEBRUARY PAYMENTS BALANCE IN SURPLUS |
Oper shr loss 21 cts vs loss 95 cts Oper net loss 666000 vs loss 2184000 Avg shrs 3181805 vs 2310200 Year Oper shr loss 30 cts vs loss 23 cts Oper net loss 823000 vs loss 606000 Avg shrs 2757040 vs 2614225 NOTE: Net excludes realized investment gains of 666000 dlrs vs 289000 dlrs in quarter and 2274000 dlrs vs 1468000 ... | BELVEDERE CORP <BLV> 4TH QTR LOSS |
Italys net official reserves rose to 66172 billion lire in February 1987 from a previously reported 62174 billion in January the Bank of Italy said. Gold holdings at end-February totalled 35203 billion lire unchanged on January. Convertible currencies totalled 18467 billion lire up from 14899 billion in January while E... | ITALIAN NET RESERVES RISE IN FEBRUARY |
SJNB Financial Corp said Douglas McLendon has resigned as president and chief executive officer of the holding company and its San Jose National Bank subsidiary and as a director of its Tri-Valley National Bank subsidiary to pursue other interests. It said vice chairman William Pfeifle 68 will act as interim president ... | SJNB <SJNB> SAYS CHIEF EXECUTIVE RESIGNS |
The liberalization of West German capital markets in May 1985 led to a flood of financial innovations but the lack of a secondary market for these has diminished their acceptance Deutsche Girozentrale - Deutsche Kommunalbank management board member Wiegand Hennicke said. While innovations may be intellectualy stimulati... | GERMAN INVESTORS SLOW TO ACCEPT BOND INNOVATIONS |
CARTER HAWLEY HALE STORES INC 4TH QTR SHR LOSS 1.58 DLRS VS PROFIT 58 CTS | |
Chicago Board of Trade CBT President Thomas Donovan said he was confident the Commodity Futures Trading Commission CFTC would not force the CBT and the MidAmerica Commodity Exchange MCE to merge speculative position limits on futures contracts traded on the two exchanges. Last month CFTC proposed combining CBT and MCE ... | CBT HEAD CONFIDENT OF SEPARATE CBT, MCE LIMITS |
The two top officials of the Chicago Board of Trade CBT are planning to visit three countries in the Far East next month to drum up support for the exchanges proposed night trading session CBT President Thomas Donovan told Reuters. Donovan said he and CBT Chairman Karsten Mahlmann will leave April 3 and spend two weeks... | CBT LEADERS PLAN APRIL TRIP TO FAR EAST |
Swissair <SWSZ.Z> said that the order for McDonnell Douglas Corp <MD> MD-11 long haul jets confirmed this morning was worth a total 1.2 billion Swiss francs. President Robert Staubli told a news conference it had not yet been decided whether the planes would have General Electric Co <GE.N> Pratt and Whitney &l... | SWISSAIR PLANE ORDER FOR 1.2 BILLION SWISS FRANCS |
The U.K. Treasury said its 1987/88 budget arithmetic which was unveiled on Tuesday took full account of likely proceeds from the sale of the governments remaining 31.7 pct stake in British Petroleum Co PLC (BP.L). A statement issued by the Treasury said the BP announcement therefore makes no difference to our estimate ... | BP SALE WAS IN UK 1987/88 BUDGET MATHS - TREASURY |
WASTE MANAGEMENT SAYS IT IS PREPARED TO RAISE ITS BID FOR CHEMLAWN TO 33 DLRS A SHARE | |
Transamerica Corp said it expects to realize a gain of about 75 mln dlrs on the previously-announced sale of the group life and health operations of its Transamerican Occidental Life Insurance Co subsidiary to Provident Life and Accident Co <PACC>. But it said its Transamerica Life Cos unit plans to change to a more... | TRANSAMERICA <TA> TO HAVE GAIN ON UNIT SALE |
Color Systems Technology Inc <CLST> said it has completed formation of a joint venture called Screen Gems Classicolor with Coca-Cola Co to color and distribute feature films and television programs. Color Systems said it and Coca-Cola will share profits from worldwide television basic cable pay television and home v... | COCA-COLA <KO> IN FILM COLORING VENTURE |
AmeriTrust Corp said its board declared a two-for-one stock split and management intends to recommend to directors an increase in the quarterly dividend to at least 50 cts per share presplit from the current 44 cts. The company said shareholders at the May 14 annual meeting will be asked to approve an increase in autho... | AMERITRUST <AMTR> SETS TWO FOR ONE STOCK SPLIT |
ended Jan 31 Shr loss 1.58 dlrs vs profit 58 cts Net loss 24.2 mln vs profit 18.9 mln Sales 1.34 billion vs 1.32 billion Avg shrs 20.0 mln vs 19.8 mln Year Shr loss 1.27 dlrs vs profit 92 cts Net profit 4.2 mln vs profit 48.0 mln Sales 4.09 billion vs 3.98 billion Avg shrs 20.2 mln vs 19.6 mln NOTES: Share results afte... | CARTER HAWLEY HALE STORES INC <CHH> 4TH QTR LOSS |
The results of a controversial study of farm subsidies conducted by the Paris-based Organisation for Economic Cooperation and Development OECD show Japan has the highest agriculture subsidies in the world and that dairy farmers benefit more than any other commodity producers from subsidies. Results of the study which h... | OECD FARM SUBSIDIES STUDY RESULTS DETAILED |
First American Financial Corp said its board declared a special dividend of 20 cts per share and the regular 25 ct quarterly dividend both payable April 15 to holders of record March 31. Reuter | FIRST AMERICAN FINANCIAL<FAMR> IN SPECIAL PAYOUT |
<Caribou Energy Inc> said shareholders have approved a one-for-100 reverse split that will take effect by tomorrow and the company has changed its name to <Texas Petroleum Corp>. Reuter | CARIBOU ENERGY REVERSE SPLIT APPROVED |
National Capital Real Estate Trust said it has entered into a definitive agreement to sell its Irvine Commercial Center in Irvine Calif. to Shuwa Corp of California for 10.85 mln dlrs. It said the buyer has pl;aced 250000 dlrs into an escrow account as a nonrefundable deposit. The trust said existing debt secured by th... | NATIONAL CAPITAL <NCETS> TO MAKE SALE |
Swissair <SWSZ.Z> reported a 5.8 pct drop in 1986 net profit to 64.5 mln Swiss francs and said that in line with its new flexible dividend policy it would cut its payout to 33 francs per share from 38. President Robert Staubli told a news conference that the first two months of this year gave hope that 1987 profit w... | SWISSAIR REPORTS LOWER PROFIT AND DIVIDEND |
<Canadian Roxy Petroleum Ltd> said a new oil discovery in the Peerless Lake area of north-central Alberta is capable of flowing at over 1000 barrels of oil a day from a lower zone and more than 1500 barrels a day from a separate upper zone. Canadian Roxy has a 35 pct interest in the five-year royalty free well known... | CANADIAN ROXY IN NEW ALBERTA OIL DISCOVERY |
Waste Management Inc said it sent a letter to the ChemLawn Corp board saying it is prepared to increase its bid for ChemLawn to 33 dlrs a share from 27 dlrs if ChemLawn promptly negotiates and executes a simple two-step merger agreement containing only essential covenants and conditions. Upon such an agreement Waste Ma... | WASTE MANAGEMENT<WMX> TO RAISE CHEMLAWN<CHEM>BID |
American Can cop said it has filed a shelf registration covering 500 mln dlrs of debt securities to be issued from time to time. It said proceeds will be used for general corporate purposes which could include acquisitions business investments or debt repayment. Reuter | AMERICAN CAN <AC> FILES 500 MLN DLR SHELF OFFER |
New applications for unemployment insurance benefits fell to a seasonally adjusted 340000 in the week ended March 7 from 373000 in the prior week the Labor Department said. The number of people actually receiving benefits under regular state programs totaled 2507000 in the week ended Feb 28 the latest period for which ... | U.S. FIRST TIME JOBLESS CLAIMS FELL IN WEEK |
Hopes mounted for an agreement on cocoa buffer stock rules at an International Cocoa Organization ICCO council meeting which opened here today delegates said. Both producer and consumer ICCO members said after the opening session that prospects for an agreement on the cocoa market support mechanism were improving. The ... | COCOA DELEGATES OPTIMISTIC ON BUFFER STOCK RULES |
Ended Jan 31 Shr one ct vs 31 cts Net 29000 vs 1350000 Revs 43.7 mln vs 32.4 mln Year Shr 29 cts vs 62 cts Net 1251000 vs 2520000 Revs 129.9 mln vs 96.1 mln NOTE: Full name Stuarts Department Stores Inc. Reuter | STUARTS DEPARTMENT STORES <STUS> 4TH QTR NET |
Iomega Corp announced it expected revenues for the first quarter of 1987 to be significantly lower than planned and that it anticipated a loss for the quarter. In its annual report to be mailed to stockholders tomorrow the company will announce its first quarter loss will be in excess of 10 mln dlrs primarily as a resu... | IOMEGA CORP <IOMG> EXPECTS QTR AND YEAR LOSSES |
Shr 22 cts vs 13 cts Net 3166000 vs 1780000 Sales 30.4 mln vs 16.9 mln Avg shrs 14.6 mln vs 14.0 mln Nine mths Shr 56 cts vs 33 cts Net 7961000 vs 4562000 Sales 78.8 mln vs 44.7 mln Avg shrs 14.3 mln vs 13.9 mln Reuter | 3COM CORP <COMS> 3RD QTR FEB 28 NET |
Dr. Ing. H.C.F. Porsche AG <PSHG.F> said earnings in first half year 1986/87 were satisfactory despite burdens caused by the dollars weakness against the mark and stagnating domestic demand. In its semi-annual shareholders report Porsche said first half turnover fell six pct to 1.71 billion marks from 1.83 billion i... | PORSCHE HALF-YEAR EARNINGS CALLED SATISFACTORY |
Qtly div seven cts vs seven cts in prior qtr Payable April 15 Record March 31 Reuter | PROGRESSIVE BANK INC <PSBK> |
Qtly div two cts vs two cts prior Pay April 24 Record April Three Reuter | GERIATRIC AND MEDICAL CENTERS INC <GEMC> PAYOUT |
Period ended Dec 28 Shr 42 cts vs 35 cts Net 941000 vs 786000 Revs 12798000 vs 2269000 Year Shr 97 cts vs 83 cts Net 2211000 vs 1841000 Revs 19027000 vs 6474000 NOTE: 1985 period ended December 29 Share results adjusted for five-for-four stock split on April 28 1986 and 10 pct stock dividend issued Dec 10 1986 Reuter | CONVENIENT FOOD MART INC <CFMI> 4TH QTR NET |
Shr 21 cts vs 21 cts Net 542119 vs 520668 Sales 2035759 vs 1804350 1st half Shr 38 cts vs 42 cts Net 956228 vs 1038300 Sales 3748357 vs 3482066 Reuter | MEDCHEM PRODUCTS INC <MDCH> 2ND QTR FEB 28 NET |
The Bank of England said it gave the money market a further 191 mln stg assistance in the afternoon session. This takes the Banks total help so far today to 372 mln stg and compares with its upwards revised estimate of the shortage in the system of around 400 mln stg. The central bank bought bank bills outright compris... | U.K. MONEY MARKET GIVEN FURTHER 191 MLN STG HELP |
Hamburgische Landesbank Girozentrale is issuing a 50 mln Canadian dollar issue due May 6 1990 carrying a coupon of 8-1/4 pct and priced at 101-3/8 said Merrill Lynch Capital Markets as lead manager. The notes are available in denominations of 1000 and 10000 dlrs with payment set for May 6. The securities will be listed... | HAMBURGISCHE LB ISSUES 50 MLN CANADIAN DLR NOTES |
Jefferies and Co said this morning that it is making a market in Gencorp <GY>. The bid is 106 and the ask is 111. Jefferies also said it is making a market in American Express <AXP>. Jeffries opened the stock and the bid is 79-1/2 and the ask is 81. Reuter | JEFFERIES MAKES MARKET GENCORP, AMERICAN EXPRESS |
Shr 1.64 dlrs vs 90 cts Net 64.9 mln vs 28.8 mln Revs 73 mln vs 35 mln NOTE: Shares outstanding 39.5 mln vs 32.1 mln. Avg shrs not given. Company recently raised equity and voting interests in <Hees International Corp> to 13.4 pct and 16.1 pct respectively. Reuter | <PAGURIAN CORP LTD> YEAR NET |
NRM Energy Co LP said an offering of eight mln two dlr cumulative convertible acquisition preferred units is underway at 18 dlrs each through underwriters led by Sears Roebuck and Co Incs <S> Dean Witter Reynolds Inc Donaoldson Lufkin and Jenrette Securities Corp E.F. Hutton Group Inc <EFH> PaineWebber Group Inc ... | NRM ENERGY <NRM> PREFERRED OFFERING UNDERWAY |
Unilever Plc <UN.AS> said a reduction in U.K. Advance Corporation Tax (ACT) has prompted the company to adjust its 1986 final dividend to 36.17p per share from the originally declared 35.18p. Unilevers 1985 final dividend amounted 27.05p The adjustment stemmed from the dividend equalisation agreement between the Bri... | UNILEVER PLC ADJUSTS DIVIDEND |
The Paris Bourse will add a further three stocks to its computerised continuous trading system from March 24 bringing the total number of continuously traded stocks to 54 the Stockbrokers Association said. The shares are <Bazar de lHotel de Ville> (BHV) <Dollfus Mieg et Cie> (DMC) and <Maisons Phenix>. The Bou... | PARIS TO ADD THREE STOCKS TO CONTINUOUS QUOTATION |
Jordan and Sudan signed a barter trade agreement under which they will exchange 100 mln dlrs worth of goods a year Sudanese officials said. They said Sudan will export corn sesame peanuts spices and cow hides while Jordan will export cement tomato puree chemicals and pharmaceuticals. Reuter | JORDAN, SUDAN SIGN 100 MLN DLR BARTER TRADE PACT |
A new market has emerged in warrants to buy gold a vehicle which bankers say brings some of the play of commodity options into the field of securities. Over the past three weeks Swiss offices of American banks have launched a total of four issues of warrants with varying conditions drawing on renewed inflationary worri... | NEW MARKET EMERGES IN WARRANTS FOR GOLD |
JEFFERIES GROUP CHAIRMAN RESIGNS, PLEADS GUILTY TO SECURITIES VIOLATIONS | |
<Metro Funding Corp> said its shareholders approved its merger into <Maxcom Corp> and its change of incorporation from Nevada to Delaware. Metro Funding also said its subsidiary Comet Corp will be renamed Maxcom USA. The company also reported shareholders approved the authorization of 500000 shares of common stoc... | METRO FUNDING SHAREHOLDERS APPROVE MERGER |
Hitachi Ltds Maxell Corp of America introduced a floppy disk with expanded storage capacity. The company said the 5-1/4-inch disk has a storage capacity of 3.2 megabytes unformatted and is in response to user demand for higher capacity media for newly introduced machines and drives. Maxell said the disk will operate wi... | HITACHI <HIT> UNIT LAUNCHES NEW FLOPPY DISK |
Oper shr loss 1.25 dlrs vs loss 44 cts Oper net loss 2915000 vs loss 951000 Revs 8131000 vs 119000 NOTE: 1985 net excludes 625000 dlr gain from discontinued operations. Net includes tax credits of 860000 dlrs vs 285000 dlrs. Reuter | BLOCKBUSTER ENTERTAINMENT CORP <BBEC> YEAR LOSS |
Telecom Plus International Inc said the closing of the sale of its 65 pct interest in Tel Plus Communications Inc to <Siemens AG> has been delayed. The company said it will be continuing its talks with Siemens and based on current circumstances believes the transaction could close next week. Closing had been schedul... | TELECOM <TELE> SAYS SALE CLOSING DELAYED |
Jefferies Group Inc said founder and chairman Boyd L. Jefferies has resigned and intends to plead guilty to two felony counts of violating federal securities laws. The company said neither Boyd Jefferies nor the company ever engaged in insider trading and neither he nor the company ever sought or communicated insider i... | JEFFERIES <JEFG> CHAIRMAN PLEADING GUILTY, QUITS |
The European Community (EC) Commission said it approved a 680 mln stg British government aid package to state-owned Rover Group Plc <BLLL.L> to restructure and privatise the groups bus and truck subsidiaries. In a statement the commission said Rovers <Leyland Trucks> subsidiary would be financially and physically... | EC APPROVES 680 MLN STG U.K. AID TO ROVER GROUP |
Shr 27 cts vs 10 cts Net 7684000 vs 2587000 Revs 273.9 mln vs 203.7 mln Year Shr 90 cts vs 33 cts Net 23.9 mln vs 8219000 Revs 1.01 billion vs 700.7 mln Reuter | THE HOME DEPOT INC <HD> 4TH QTR FEB ONE NET |
Energy Secretary John Herrington said his proposed option to raise the oil depletion allowance to 27.5 pct was probably the most economically promising way to spur domestic production. The White House has said it would consider the option although it was generally opposed to any revisions in the new tax code. Herringto... | U.S. ENERGY CHIEF SEES PROMISE IN OIL-TAX CHANGE |
U.S. PERSONAL INCOME ROSE 0.9 PCT IN FEBRUARY, SPENDING UP 1.7 PCT | |
U.S. personal income rose 0.9 pct or 32.4 billion dlrs in February to a seasonally adjusted annual rate of 3581.3 billion dlrs the Commerce Department said. The increase followed a revised 0.2 pct rise in personal income during January. Earlier the department estimated January personal income was unchanged. The Februar... | U.S. PERSONAL INCOME ROSE 0.9 PCT IN FEBRUARY |
The bank of England said it provided the money market with late assistance of around 40 mln stg. This brings the Banks total help today to some 412 mln stg and compares with its forecast of a shortage in the sytem of around 400 mln stg. REUTER | U.K. MONEY MARKET GIVEN 40 MLN STG LATE ASSISTANCE |
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