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BUNDESBANK LEAVES CREDIT POLICIES UNCHANGED
| The Bundesbank left credit policies
unchanged after today's 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.
| Commodities and Trade |
JAPAN/U.S. WILL BE AT ODDS WHILE TRADE LOPSIDED
| Japan is doing all it can to solve its
trade problems with the United States but the two nations will
remain at odds as long as the trade account is lopsided in
Japan's favour, a senior official said.
"So long as there is an external imbalance there will be
trade friction and ...Harsh words between the ... | Financial Reports |
FRANCE SOLD WHEAT FLOUR TO CHINA - ONIC
| France has sold between 50,000 to 100,000
tonnes of wheat flour to China, the Director General of
France's Cereal Intervention Board (ONIC) Bernard Vieux said.
He gave no further details of the sale, but added French
millers were worried about the unfair competition facing French
flour due the lack of e... | Financial Reports |
PERU COFFEE CROP UNAFFECTED BY RAINS
| Recent heavy rains have not affected the
Peru coffee crop and producers are looking forward to a record
harvest, the president of one of Peru's four coffee cooperative
groups said.
Justo Marin Ludena, president of the Cafe Peru group of
cooperatives which accounts for about 20 pct of Peru's exports,
t... | Financial Reports |
DECISION EXPECTED ON U.K ROYAL ORDNANCE SALE
| U.K. Defence secretary George Younger is
expected to announce the government's decision on the sale of
state-owned arms manufacturer <Royal Ordnance> today,
parliamentary sources said.
The government originally intended to float the munitions
and explosives concern on the stock market, but last July ... | Corporate News |
JAPANESE GROUPS URGE DRASTIC ECONOMIC PACKAGE
| Japan's leading economic organisations
urged the Government to prepare drastic pump-priming measures
even at the cost of shelving Prime Minister Yasuhiro Nakasone's
planned tax reforms, officials involved said.
Officials of the Federation of Economic Organisations
(Keidanren) said in a meeting with gove... | Other |
SYRIA SEEKING WHITE SUGAR ON APRIL 8 - TRADE
| Syria will hold a buying tender on April
8 for 36,000 tonnes of white sugar for shipment in June, July
and August at a rate of 12,000 tonnes a month, traders said.
| Corporate News |
HOOGOVENS EXPECTS CLEAR LOSS IN 1987
| <Koninklijke
Nederlandsche Hoogovens en Staalfabrieken NV> said it expected
a "clear loss" for 1987.
The company reported its 1986 profits were 44 pct lower at
154.6 mln guilders than in the year before.
Turnover was 18 pct lower than in 1985.
The main reason fo the fall in turnover was ... | Commodities and Trade |
GERMAN MARCH COST OF LIVING DATA CONFIRMED
| The cost of living was unchanged in
March compared with February but stood 0.2 pct lower than in
the same month in 1986, the Federal Statistics Office said.
This confirms provisional figures released at the end of
last month.
In February the cost of living in West Germany rose 0.1 pct
from January... | Other |
SEASONAL STABILISATION SEEN FOR COFFEE PRICES
| The onset of cooler weather in Brazil
during the southern hemisphere winter is expected to have a
stabilising effect on a weak coffee market, West German trade
sources said.
"The annual fear of frost in Brazil will probably grip the
market sometime this month until June or early July," one trader
said... | Commodities and Trade |
GERMAN INDUSTRIAL OUTPUT RISES 3.2 PCT IN FEBRUARY
| West German industrial production,
seasonally adjusted, rose a provisional 3.2 pct in February
after a downwards revised decline of 3.4 pct in January, the
Economics Ministry said.
The ministry had originally estimated that industrial
production fell 3.0 pct in January.
The February figure is like... | Market and Economy |
TOSHIBA REGRETS LINK WITH U.K. ACCESS ISSUE
| Toshiba Corp <TSBA.T> said it regrets its
plan to enter the U.K. Business facsimile and telephone market
may be caught up in a diplomatic row over the position of Cable
and Wireless Plc's <CAWL.L> in the Japanese market.
Britain is considering how to retaliate against Japan's
attempt to prevent Ca... | Financial Reports |
WESTPAC IN N.Z. RAISES INDICATOR LENDING RATE
| Westpac Banking Corp in New Zealand
said it will increase its indicator lending rate by 1.5
percentage points to 22.5 pct from April 7.
Westpac said in a statement the increase reflects high
costs of funding.
The bank said nervousness in the wholesale deposit market
is creating uncertainty about t... | Corporate News |
BANK OF JAPAN INTERVENES JUST AFTER TOKYO OPENING
| The Bank of Japan intervened just after
the Tokyo market opened, buying dollars at around 147.65 yen,
dealers said.
They were unsure of the amount of the central bank's
purchasing, but it seemed to prevent the dollar from weakening
against the yen amid bearish sentiment for the U.S. Currency,
they sai... | Other |
BUNDESBANK LEAVES CREDIT POLICIES UNCHANGED
| The Bundesbank left credit policies
unchanged after today's 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.
| Corporate News |
JAPAN WARNS OF ANTI-U.S. SENTIMENT IN TRADE ROW
| Japan is sending a three-man team to
Washington to try to halt threatened trade sanctions that
officials warn could spark a wave of anti-U.S. Sentiment here.
The team will lay the groundwork for high-level emergency
talks next week aimed at defusing an increasingly bitter row
over trade in computer micr... | Financial Reports |
JAPAN/U.S. WILL BE AT ODDS WHILE TRADE LOPSIDED
| Japan is doing all it can to solve its
trade problems with the United States but the two nations will
remain at odds as long as the trade account is lopsided in
Japan's favour, a senior official said.
"So long as there is an external imbalance there will be
trade friction and ...Harsh words between the ... | Industrial and Sector News |
BANK OF FRANCE FOREIGN ASSETS RISE LATEST WEEK
| Weekly figures published by the Bank of
France showed its gross foreign assets rose by about two
billion francs last week, when it was reported by banks to have
intervened on the foreign exchange markets to support the
dollar against the yen.
The figures showed its gold, foreign currency and other
ext... | Corporate News |
BANKAMERICA <BACP> RAISES PRIME RATE TO 7.75 PCT
| BankAmerica Corp, following moves
by other major banks, said it has raised its prime rate to 7.75
pct from 7.50 pct, effective today.
| Commodities and Trade |
LME DETAILS MARCH 1987 TURNOVER
| The London Metal Exchange, LME, issued
turnovers for March 1987, with figures for corresponding period
1986 in brackets.
All in tonnes except Silver which in troy ounces.
Copper higher grade nil (2,526,425), Standard cathodes nil
(6,325), Grade A 2,429,200 (nil), Standard Copper 17,050 (nil),
Lead... | Corporate News |
NEWS CORP <NWS> STARTS HARPER/ROW <HPR> BID
| News Corp Ltd of Australia said it has
started its previously announced tender offer for all shares of
Harper and Row Publishers Inc at 65 dlrs per share.
In a newspaper advertisement, the company said the offer is
conditioned on received of at least 51 pct of Harper and Row's
shares. The offering and ... | Other |
INTERNATIONAL TECHNOLOGY <ITX> SEES 4TH QTR LOSS
| International Technology corp
said it expects to report a loss for the fourth quarter ended
March 31 of about 20 cts per share, compared with a
year-earlier profit of 11 cts.
The company blamed the expected loss on regulatory and
permitting issues that limited the full utilization of
hazardous waste t... | Financial Reports |
WESTLB LUXEMBOURG REPORTS LOWER 1986 NET PROFIT
| Westdeutsche Landesbank Girozentrale
<WELG.F> said its wholly-owned Luxembourg subsidiary WestLB
International SA posted a decline in 1986 net profit to 12.6
mln marks from 48.5 mln a year earlier.
WestLB International will pay a 12.5 mln mark dividend to
WestLB, down from 47.7 mln a year earlier.
... | Corporate News |
40 MINERS TRAPPED BY FIRE IN GASPE COPPER MINE
| Some 40 miners were trapped
underground today by a fire in a copper mine in the Gaspe area
of eastern Quebec, officials said.
There were no reports of any deaths.
A mine official said that the fire broke out last night and
about 25 of the miners made it to safety.
He said telephone contact had... | Corporate News |
OTHER MILDS COFFEE PRODUCERS TO MEET MAY 4
| Coffee producers belonging to the "Other
Milds" group will meet May 4 in Guatemala to discuss the
possibility of restoring export quotas, producer delegates told
reporters after the closing session of the International Coffee
Organization, ICO, executive board meeting.
The "Other Milds" group, comprisin... | Commodities and Trade |
<ALOHA INC> BUYOUT COMPLETED
| Aloha Inc said its leveraged buyout by
AQ Corp, which acquired 91 pct of Aloha common and 82 pct of
Aloha preferred in a tender offer that concluded December 26,
has been completed for 28.50 dlrs per common or preferred
share.
AQ is controlled by Aloha chairman Hung Wo Ching, vice
chairman Sheridan C.... | Corporate News |
U.K. MONEY MARKET GIVEN FURTHER 152 MLN STG HELP
| The Bank of England said it had given the
money market a further 152 mln stg assistance in the afternoon
session.
This takes the Bank's total help so far today to 497 mln
stg and compares with its forecast of a shortage in the system
of around 700 mln stg which it earlier revised down from 800
mln.
... | Corporate News |
BANK OF FRANCE LEAVES INTERVENTION RATE UNCHANGED AT 7-3/4 PCT - OFFICIAL
|
BANK OF FRANCE LEAVES INTERVENTION RATE UNCHANGED AT 7-3/4 PCT - OFFICIAL
| Financial Reports |
HONG KONG FIRM UPS WRATHER<WCO> STAKE TO 11 PCT
| Industrial Equity (Pacific) Ltd, a
Hong Kong investment firm, said it raised its stake in Wrather
Corp to 816,000 shares, or 11.3 pct of the total outstanding
common stock, from 453,300 shares, or 6.3 pct.
In a filing with the Securities and Exchange Commission,
Industrial Equity, which is principally o... | Corporate News |
FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED
| French operators have requested licences
to export 422,000 tonnes of free market maize, 212,000 tonnes
of barley and 20,000 tonnes of feed wheat at today's EC tender,
trade sources said.
For the maize, rebates requested range between 129.25 and
138.74 European currency units per tonne, for the barley
... | Industrial and Sector News |
BANK OF FRANCE LEAVES INTERVENTION RATE UNCHANGED
| The Bank of France said it left its
intervention rate unchanged at 7-3/4 pct when it injected funds
to the market against first category paper in todays money
market intervention tender.
Money market dealers had earlier expressed mixed views on a
possible quarter point cut.
The rate was last adjus... | Industrial and Sector News |
NP ENERGY <NPEEQ> SAYS TRUSTEE APPOINTED
| NP Energy Corp said the U.S.
Bankruptcy Court has indicated it will appoint a trustee to
oversee the company's Chapter 11 bankruptcy proceedings.
It said it hopes the appointment will thwart "hostile"
actions being pursued by two unsecured creditors to whose
claims the company objects.
NP further ... | Commodities and Trade |
CPC INTERNATIONAL <CPC> SELLS SOUTH AFRICAN UNIT
| CPC International Inc
said it has completed the sale of its South African subsidiary
Robertsons Pty Ltd to a consortium of European and South
African investors for an undisclosed amount in excess of book
value due to the increasing difficulty of operating there.
It said the operation accounted for less ... | Market and Economy |
<GIANT YELLOWKNIFE MINES LTD> 4TH QTR NET
| Shr 23 cts vs 46 cts
Net 987,000 vs 1,990,000
Revs 14.6 mln vs 15.0 mln
Year
Shr 89 cts vs 1.32 dlrs
Net 3,846,000 vs 5,690,000
Revs 58.1 mln vs 56.6 mln
| Other |
NORTH EAST INSURANCE CO <NEIC> 4TH QTR LOSS
| Shr loss 85 cts vs loss 1.36 dlrs
Net loss 1,653,386 vs loss 2,646,876
Year
Shr loss 12 cts vs loss 1.30 dlrs
Net loss 236,469 vs loss 2,522,293
NOTE: Year net includes realized investment gains of
734,609 dlrs vs 645,438 dlrs.
| Corporate News |
U.S. FIRST TIME JOBLESS CLAIMS ROSE IN WEEK
| New applications for unemployment
insurance benefits rose to a seasonally adjusted 355,000 in the
week ended March 21 from 341,000 in the prior week, the Labor
Department said.
The number of people actually receiving benefits under
regular state programs totaled 2,480,000 in the week ended
March 14, t... | Corporate News |
MELLON BANK EXPECTS TO REPORT A FIRST QUARTER LOSS OF 55 MLN TO 65 MLN DLRS
|
MELLON BANK EXPECTS TO REPORT A FIRST QUARTER LOSS OF 55 MLN TO 65 MLN DLRS
| Other |
FIRST CHICAGO <FNB> RAISES PRIME RATE
| First Chicago Corp said its First
National Bank of Chicago raised its prime rate to 7-3/4 pct
from 7-1/2 pct, effective immediately.
| Corporate News |
WILLCOX AND GIBBS INC <WG> 4TH QTR NET
| Oper shr 42 cts vs 41 cts
Oper net 2,322,000 vs 1,785,000
Sales 72.3 mln vs 59.8 mln
Avg shrs 5,527,000 vs 4,355,000
Year
Oper shr 1.48 dlrs vs 1.40 dlrs
Oper net 7,637,000 vs 5,973,000
Sales 261.7 mln vs 224.7 mln
Avg shrs 5,165,000 vs 4,277,000
NOTE: 1985 operat... | Corporate News |
MELLON BANK SAYS IT WILL CUT DIVIDEND TO 35 CTS A SHR FROM 69 CTS
|
MELLON BANK SAYS IT WILL CUT DIVIDEND TO 35 CTS A SHR FROM 69 CTS
| Financial Reports |
AMERICAN BARRICK <ABX> SELLS OHIO ASSETS
| American Barrick Resources Corp said it
sold two coal supply agreements and substantially all assets at
its two coal mines in Ohio to <Peabody Coal Co> of Henderson,
Kentucky, for an undisclosed price.
The company said proceeds from this sale, together with the
sale of the remaining coal assets, shou... | Corporate News |
COMERICA <CMCA> RAISES PRIME RATE
| Comerica Inc said it raised its prime
interest rate to 7-3/4 pct from 7-1/2 pct, effective April 1.
| Market and Economy |
NORTH EAST <NEIC> MAY VIOLATE CAPITAL RULES
| North East Insurance Co said due
to the magnitude of its losses in 1986 and 1985, it may be
found in violation of minimum capital and surplus requirements
by officials in Maine and New York and be subject to sanctions
and administrative actions in those and other states.
The company today reported a 198... | Corporate News |
ELECTROMEDICS INC <ELMD> YEAR NET
| Shr profit nil vs loss three cts
Net profit 140,022 vs loss 882,869
Revs 13.3 mln vs 8,870,035
Avg shrs 45.0 mln vs 35.0 mln
Backlog 1,683,000 vs 978,000
NOTE: Current year net includes tax credit of 51,000 dlrs.
| Corporate News |
ELECTROMEDICS <ELMD> TO TAKE 1ST QTR CHARGE
| Electromedics Inc said it
expects to take a 150,000 dlr charge against first quarter
results due to the conversion of debentures.
The company said, however, it expects "positive" operating
comparisons for the period. Electromedics lost 6,000 dlrs in
last year's first quarter.
| Corporate News |
GE <GE> PROFIT OUTLOOK AIDED BY ENGINE ORDER
| One of General Electric Co's biggest
businesses, aircraft engines, will ride a wave of increasing
profits into 1991 because of a new contract worth 650 mln dlrs,
Wall Street analysts said.
Previously, it was expected the business would peak and
decline at some point in the next five years. The improved
... | Corporate News |
SHELDAHL INC <SHEL> 2ND QTR FEB 28 NET
| Shr 24 cts vs four cts
Net 663,000 vs 109,000
Sales 20.5 mln vs 13.9 mln
Six mths
Shr 48 cts vs nine cts
Net 1,311,000 vs 255,000
Sales 43.2 mln vs 30.0 mln
Avg shrs 2,719,205 vs 2,804,048
| Corporate News |
MELLON <MEL> SEES LARGE FIRST-QUARTER LOSS
| Mellon Bank Corp said it expects
to report a loss for the first quarter in the range of 55 mln
to 65 mln dlrs or 2.13 to 2.15 dlrs a share.
The company also said it intends to reduce its second
quarter common stock dividend to 35 cts a share from 69 cts.
Mellon said it will make a provision for loan... | Market and Economy |
TURKISH CENTRAL BANK SETS LIRA/DOLLAR, DM RATES
| Turkey's Central Bank set a lira/dollar
rate for April 3 of 782.50/786.41 to the dollar, down from
780.00/783.90. It set a lira/D-mark rate of 428.30/430.44 to
the mark, up from 429.15/431.30.
| Corporate News |
U.K. MONEY MARKET GIVEN 40 MLN STG LATE HELP
| The Bank of England said it had provided
the money market with around 40 mln stg late assistance. This
takes the Bank's total help today to some 537 mln stg and
compares with its estimate of a 700 mln stg shortage.
| Corporate News |
KLOECKNER SEES FURTHER GROWTH IN ENGINEERING
| Kloeckner-Werke AG
<KLKG.F> should have turnover this year around 1985/86's 2.4
billion marks though more growth is likely in engineering in
coming years, management board chairman Herbert Gienow said.
He told a news conference at the trade fair here that by
the mid-1990s turnover should reach betwee... | Financial Reports |
CITIBANK SELLS MARK/AUSTRALIAN DLR WARRANTS
| Citicorp said that on behalf of its
Citibank N.A. Subsidiary, it is issuing 100,000 naked currency
warrants priced at 67-1/2 marks each to purchase Australian
dlrs for marks at a rate of 1.1825 marks per Australian dlr.
The current rate is 1.2850 marks per Australian dlr. Each
warrant is for a nominal a... | Market and Economy |
FIRST FEDERAL FORT MYERS <FFMY> TO MAKE PURCHASE
| First Federal Savings and Loan
Association of Fort Myers said its board has executed a letter
of intent to acquire First Presidential Savings and Loan
Association of Sarasota, Fla., for 8,500,000 dlrs in cash.
The company said a definitive agreement is expected to be
executed by May 15 and the transacti... | Financial Reports |
ELI LILLY AND CO PLANS TO SELL ITS ELIZABETH ARDEN SUBSIDIARY
|
ELI LILLY AND CO PLANS TO SELL ITS ELIZABETH ARDEN SUBSIDIARY
| Commodities and Trade |
SAN DIEGO GAS <SDO> SEES DECISION HURTING NET
| San Diego Gas and Electric Co said a
California Public Utilities Commission decision to reconsider
allowing only 20 mln dlrs of the 69 mln dlrs in San Onofre
nuclear station costs it disallowed makes it likely that
earnings in 1987 will be reduced at least 36 cts per share.
The company said if the decis... | Corporate News |
ELI LILLY <LLY> TO SELL ELIZABETH ARDEN UNIT
| Eli Lilly and Co said its board
decided to sell Elizabeth Arden Inc, a wholly owned subsidiary
that manufactures and markets cosmetics and fine fragrance
products.
It said the business, which had sales of 67 mln dlrs when
it was acquired in 1971, had sales last year of 398 mln dlrs,
up 12 pct from 198... | Commodities and Trade |
MADRID METRO HALTED AS SPANISH STRIKES SPREAD
| An estimated 1.2 mln metro users in
Madrid were stranded today as striking railway workers halted
the underground transport system, industry sources said. The
strikers joined coal miners, steel and oil refinery workers in
Spain's latest wave of stoppages over wage demands.
Some 10,000 pitmen in the nort... | Corporate News |
BELGIAN UNEMPLOYMENT FALLS IN MARCH
| Belgian unemployment, based on the
number of jobless drawing unemployment benefit, fell to 11.8
pct of the working population at the end of March from 12.1 pct
at end of February, the National Statistics Office said.
The rate compares with 12.0 pct at the end of March, 1986.
The total number of jobl... | Corporate News |
KEY CENTURION <KEYC> COMPLETES ACQUISITIONS
| Key Centurion Bancshares Inc
said it has completed the previously-announced acquisitions of
Union Bancorp of West Virginia Inc and Wayne Bancorp Inc.
| Financial Reports |
CB AND T <CBTB> COMPLETES ACQUISITION
| CB and T Bancshares Inc said it
has completed the acquisition of First Community Bancshares Inc
Of Tifton, Ga., which as assets of 62 mln dlrs.
| Financial Reports |
COLOMBIA BUYS 25,000 TONNES FRENCH WHEAT - TRADE
| Colombia recently bought 25,000 tonnes of
French soft wheat at 108 dlrs per tonne, c and f, for end-April
shipment, trade sources said.
This follows the country's tender for 25,000 tonnes of
optional origin wheat for shipment April 20-30, they said.
France had not sold wheat to Colombia for several ... | Corporate News |
GENERAL PUBLIC UTILITIES RESUMES DIVIDENDS ON COMMON STOCK, PAYS 15 CTS
|
GENERAL PUBLIC UTILITIES RESUMES DIVIDENDS ON COMMON STOCK, PAYS 15 CTS
| Financial Reports |
ZIMBABWE GOVERNMENT BUYS INTO ASTRA
| The Zimbabwe government has bought 85 pct
of the equity in <Astra Corporation> for 25.5 mln dlrs from
Netherlands-based <Bommenede Houdstermaatschappij (Nederland
BV)>, Astra announced.
Astra owns five companies with interests in engineering,
paint manufacture and the distribution of farm machiner... | Financial Reports |
UTILICORP RECOMMENDS THREE-FOR-TWO SPLIT, DIVIDEND INCREASE AND ADDITIONAL CLASS OF STOCK
|
UTILICORP RECOMMENDS THREE-FOR-TWO SPLIT, DIVIDEND INCREASE AND ADDITIONAL CLASS OF STOCK
| Corporate News |
GPU <GPU> DECLARES FIRST DIVIDEND SINCE 1979
| General Public Utilities Corp
said its board declared a dividend of 15 cts per share on
common stock, its first dividend since it omitted payment in
February 1980 as a result of the Three Mile Island nuclear
accident in 1979.
The company said it was able to declare the dividend due to
progress in the ... | Corporate News |
BRITTON LEE <BLII> SEES FIRST QUARTER LOSS
| Britton Lee Inc said it
expects to report a loss on lower sales than it had anticipated
for the first quarter.
The company earned 119,000 dlrs before a 70,000 dlr tax
credit on sales of 7,227,000 dlrs in the year-ago period.
| Corporate News |
NEW DUTCH SPECIAL ADVANCES UNCHANGED AT 5.3 PCT
| The Dutch central bank announced new
12-day special advances at an unchanged rate of 5.3 pct to
cover money market tightness for the period April 3 to 15.
The amount will be set at tender on April 3 between 0700
and 0730 hours GMT.
The new facility replaces the current 4.2 billion guilders
of nin... | Corporate News |
EC TO BOOST SPENDING ON JOB CREATION THIS YEAR
| The European Community (EC) is to boost
spending to help the jobless this year.
The EC's executive commission said in a statement spending
on its so-called social fund would rise to 3.1 billion European
Currency Units from 2.5 billion ECUs in 1986. The fund is
designed to help boost job creation and imp... | Other |
JACOBS TAKES MAJORITY STAKE IN COTE D'OR
| Jacobs Suchard AG said it acquired a
"comfortable majority" interest in its takeover bid for Cote d'Or
SA, Belgium's leading producer of chocolate.
In a statement, Jacobs said it had acquired all the shares
tendered by the time its offer expired on March 30. The offer,
for 100 pct of Cote d'Or at 8,050 ... | Corporate News |
YEUTTER SAYS U.S. SHOULD STRESS TRADE NEGOTIATIONS AS LONG-TERM U.S. TRADE POLICY
|
YEUTTER SAYS U.S. SHOULD STRESS TRADE NEGOTIATIONS AS LONG-TERM U.S. TRADE POLICY
| Financial Reports |
HOLIDAY <HIA> RECAPITALIZATION APPROVED
| Holiday Corp said the New Jersey
Casino Control Commission has approved its recapitalization
plan, providing the final regulatory approval needed.
The company said it expects to announce next week the
record date for the special 65 dlr per share dividend
shareholders will receive under the plan and to p... | Other |
COMP-U-CARD INTERNATIONAL INC <CUCD> 4TH QTR NET
| January 31 end
Oper shr profit 16 cts vs loss six cts
Oper net profit 2,879,000 vs loss 958,000
Revs 41.9 mln vs 24.1 mln
Avg shrs 18.2 mln vs 15.8 mln
Year
Oper shr profit 49 cts vs profit 18 cts
Oper net profit 8,660,000 vs profit 2,832,000
Revs 141.8 mln vs 87.5 mln
... | Other |
YEUTTER STRESSES IMPORTANCE OF TRADE TALKS
| U.S. Trade Representative Clayton
Yeutter stressed the importance of trade negotiations to open
foreign markets rather than trade restrictions in a statement
to the Senate Finance Committee.
"In the long term we cannot repeatedly bludgeon other
nations into opening their markets with threats of U.S.
r... | Corporate News |
EC MUST EXPLAIN FARM POLICY TO U.S., FRANCE SAYS
| The U.S. and the European Community could
enter into a new trade dispute unless urgent action is taken to
explain EC farm policy to the U.S. Congress, French official
sources said.
They said Prime Minister Jacques Chirac planned to urge EC
Commission president Jacques Delors to send a team of experts
... | Other |
CENTRONICS CORP <CEN> YEAR LOSS
| Oper shr loss 11 cts vs loss 36 cts
Oper net loss 2,383,000 vs loss 4,285,000
Total income 2,194,000 vs nil
NOTE: Resultes restated for discontinued operations and
exclude discontinued operations loss 5,755,000 dlrs vs gain
4,933,000 dlrs.
| Industrial and Sector News |
FRENCH EXPORTERS SEE HIGHER WHEAT SALES TO CHINA
| French exporters estimated that around
600,000 tonnes of French soft wheat has been sold to China for
delivery in the 1986/87 (July/June) year.
Around 300,000 tonnes were exported to China between July
1986 and February this year.
Another 100,000 to 150,000 tonnes will be shipped during
this month... | Financial Reports |
SANDSPORT DATA SERVICES INC <SAND> 3RD QTR NET
| Feb 28 end
Shr nil vs nil
Net 132,804 vs 53,510
Revs 2,001,107 vs 1,467,742
Avg shrs 73.9 mln vs 56.7 mln
Nine mths
Shr nil vs nil
Net 302,316 vs 171,034
Revs 5,230,014 vs 4,112,562
Avg shrs 74.4 mln vs 56.7 mln
| Corporate News |
NORTH CAROLINA FEDERAL <NCFS> RAISES PRIME RATE
| North Carolina Federal Savings
and Loan Association said it has raised its prime rate to 7-3/4
pct from 7-1/2 pct, effective yesterday, following moves by
major banks.
| Commodities and Trade |
HEALTH IMAGES INC <HIMG> 4TH QTR LOSS
| Shr loss one ct vs loss seven cts
Net profit 108,419 vs loss 241,192
Revs 2,044,882 vs 317,266
Year
Shr loss 18 cts vs loss 23 cts
Net loss 430,027 vs loss 432,982
Revs 5,088,065 vs 416,777
NOTE: Share after preferred dividends.
| Financial Reports |
SHELL CANADA SEES BETTER PROFIT, LOWER SPENDING
| <Shell Canada Ltd>, 72 pct
owned by Royal Dutch/Shell Group, anticipates an improved level
of earnings in 1987, assuming a continuation of prices and
margins that existed at the end of 1986 and early 1987, the
company said in the annual report.
Shell previously reported 1986 operating profit fell to ... | Financial Reports |
UTILICORP <UCU> SEEKS TO SPLIT STOCK
| Utilicorp United Inc said its
management is recommending to the board of directors a
three-for-two stock split and an increase in the quarterly cash
dividend rate, currently at 37 cts per common share.
The company said it is also submitting to shareholders at
its May 21 annual meeting a proposal authori... | Other |
BANK OF SPAIN GOVERNOR SAYS MONEY GROWTH TOO FAST
| Bank of Spain governor Mariano Rubio said
the central bank was worried that money supply was growing too
fast, reflecting excessive internal demand in the Spanish
economy, but added that he was confident recent measures would
succeed in restricting money growth.
In testimony to the economic commission o... | Corporate News |
AMERICAN REALTY <ARB> SETS RECORD DATE FOR OFFER
| American Realty Trust said its board has
set April 3 as the record date for its previously announced
rights offering, and the rights will be issued on April 6 and
expire May 22.
Shareholders will be able to subscribe for 1.25 shares for
each share held, at a price of 3.75 dlrs per share.
| Financial Reports |
BUCKHORN INC <BKN> 4TH QTR LOSS
| Oper shr loss 1.24 dlrs vs profit 19 cts
Oper net loss 1,965,000 vs profit 646,000
Revs 10.5 mln vs 11.6 mln
Avg shrs 1,741,000 vs 3,581,000
12 mths
Oper shr loss 1.55 dlrs vs profit 42 cts
Oper net loss vs profit 2,051,000 vs 1,492,000
Revs 42.9 mln vs 45.5 mln
Avg shr... | Corporate News |
CARTER-WALLACE INC <CAR> SETS REGULAR PAYOUT
| Qtly div 20 cts vs 20 cts prior
Pay June 1
Record April 16
| Financial Reports |
EC SETS EXPORT LICENCES ON 20,000 TONNES MAIZE
| The European Community Commission awarded
export licences for 20,000 tonnes free market French maize at a
maximum export rebate of 129.40 European currency units (Ecus)
per tonne, trade sources said here.
All requests for export licences for free market feed wheat
and barley were rejected, they said.
... | Corporate News |
PAKISTAN TO TENDER FOR RBD PALM OLEIN TOMORROW
| Pakistan will tender tomorrow for 12,000
tonnes of refined bleached deodorised palm olein tomorrow,
split in two equal cargo lots for first and second half April
shipments, traders said.
The tender will be financed with Islamic Development Bank
credit.
| Financial Reports |
USDA DENIES CHANGES IN TEXAS GULF DIFFERENTIALS
| No changes have been made or are
being planned in the Agriculture Department's calculation of
price differentials between interior grain locations and the
Texas Gulf, a senior USDA official said.
Ralph Klopfenstein, USDA deputy administrator for commodity
operations, told Reuters, "We do not anticipate ... | Commodities and Trade |
Lawson says his sterling target comments were misunderstood, and insignificant
|
Lawson says his sterling target comments were misunderstood, and insignificant
| Financial Reports |
J.P. MORGAN <JPM> INCREASES PRIME RATE
| J.P. Morgan and Co Inc said it is
raising its prime lending rate to 7-3/4 pct from 7-1/2 pct,
effective today.
Most major U.S. banks are now posting a 7-3/4 pct rate.
Citibank was the first to announce an increase on Tuesday.
| Financial Reports |
LAWSON SAYS HIS STERLING-TARGET COMMENTS WERE MISUNDERSTOOD AND INSIGNIFICANT
|
LAWSON SAYS HIS STERLING-TARGET COMMENTS WERE MISUNDERSTOOD AND INSIGNIFICANT
| Other |
COLECO INDUSTRIES INC <CLO> 4TH QTR
| Shr loss 6.48 DLS VS PROFIT 23 CTS
Net loss 110.6 mln vs profit 4.1 mln
Revs 74.0 mln vs 152.0 mln
Year
Shr loss 6.52 dlrs vs profit 3.87 dlrs
net loss 111.2 mln vs profit 64.2 mln
Revs 501.0 mln vs 776.0 mln
| Corporate News |
BUCKHORN INC <BKN> SEES HIGHER PROFITS IN 1987
| Buckhorn Inc said itd nine
million dlr backlog for orders and a less expensive operating
environment should yield significant levels of operating
profits for 1987.
Buckhorn, a manufacturer of reusable plastic shipping and
storage containers, recorded 2,051,000, or 1.55 dlrs per share,
operating net lo... | Commodities and Trade |
ALCAN, BERTONE MAKE ALUMINUM STRUCTURE CAR
| Alcan Aluminium Ltd said it joined with
Carrozzeria Bertone S.P.A. to exhibit Alcan's technology in
aluminum structured vehicles at Geneva's international auto
salon.
Alcan said it and Bertone have built several Bertone X1/9
sports cars with structures of adhesively bonded sheet
aluminum. It said the ... | Corporate News |
CCR VIDEO 1ST QTR NOV 30 NET
| Shr 2-1/5 cts vs nil
Net 156,726 vs 11,989
Sales 1,157,883 vs 890,138
| Corporate News |
DEL E. WEBB INVESTMENT <DWPA> 4TH QTR NET
| Shr eight cts vs 16 cts
Net 188,000 vs 354,000
Revs 538,000 vs 594,000
Year
Shr 31 cts vs 28 cts
Net 692,000 vs 617,000
Revs 2,640,000 vs 906,000
(Del E. Webb Investment Properties Inc)
| Commodities and Trade |
U.S. EXPORTERS REPORT 104,000 TONNES OF CORN SOLD TO UNKNOWN DESTINATIONS FOR 1986/87
|
U.S. EXPORTERS REPORT 104,000 TONNES OF CORN SOLD TO UNKNOWN DESTINATIONS FOR 1986/87
| Commodities and Trade |
F.W. WOOLWORTH'S <Z> 1986 PROFITS RISE 21 PCT
| The specialty retailing area continues
to pay off for F.W. Woolworth Co, once known only as a five and
dime store chain, which said its 1986 income rose 21 pct.
It was the fourth consecutive year of profit increases for
the New York-based retailer which was founded over 100 years
ago.
Woolworth's ... | Other |
DIAMOND SHAMROCK (DIA) CUTS CRUDE PRICES
| Diamond Shamrock Corp said that
effective today it had cut its contract prices for crude oil by
1.50 dlrs a barrel.
The reduction brings its posted price for West Texas
Intermediate to 16.00 dlrs a barrel, the copany said.
"The price reduction today was made in the light of falling
oil product pri... | Corporate News |
ROYAL RESOURCES CORP <RRCO> 2ND QTR DEC 31 LOSS
| Shr loss 72 cts vs loss 1.48 dlrs
Net loss 4,466,006 vs loss 9,091,688
Revs 608,181 vs 1,280,727
Six Mths
Shr loss 77 cts vs loss 1.51 dlrs
Net loss 4,752,455 vs loss 9,265,457
Revs 1,444,149 vs 2,791,188
| Corporate News |
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