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CANADA ECONOMY EXPECTED TO GROW MODERATELY
| Canadian economic growth is expected to
slow further in 1987, but an improved the trade picture should
keep the country from recession, economists said.
"The economy is ready for about a 2.0 pct rate of growth
over the course of 1987," said Carl Beigie, Chief Economist at
Dominion Securities Pitfield Lt... | Corporate News |
COOPER BASIN NATURAL GAS RESERVES UPGRADED
| Remaining recoverable gas reserves in
the areas held by the Santos Ltd <STOS.S>-led Cooper Basin
joint ventures have been upgraded to 2,721.7 billion cubic feet
(bcf) from the 2,466 estimated last May, Santos said.
The upgrading followed a re-review by consultant <Coles
Nikiforuk Pennell Associate... | Other |
USDA REPORTS CORN SOLD SOLD TO UNKNOWN
| The U.S. Agriculture Department said
private U.S. exporters reported sales of 104,000 tonnes of corn
to unknown destinations for shipment in the 1986/87 marketing
year.
The marketing year for corn began September 1, it said.
| Corporate News |
ANZ BANK TO CUT AUSTRALIAN PRIME RATE TO 18 PCT
| Australia and New Zealand Banking
Group Ltd <ANZA.S> said it will lower its Australian prime
lending rate to 18 pct from 18.25, effective April 6.
The cut is the second announced by the bank in the last
week, following a cut from 18.5 pct effective last Monday.
The ANZ's new rate will be the lowe... | Corporate News |
ANZ BANK IN N.Z. RAISES INDICATOR LENDING RATE
| The Australia and New Zealand Banking
Group Ltd in New Zealand said it will raise its indicator
lending rate to 23 pct from 21.5 pct on April 7.
A bank statement said the continuing rise in the cost of
funds had to be passed on to the lending customers.
ANZ managing director Brian Weeks said: "Recen... | Financial Reports |
JAPAN/U.S. AGRICULTURE TALKS SET FOR APRIL 17, 20
| Agriculture Minister Mutsuki Kato said he
will meet U.S. Agriculture Secretary Richard Lyng here on April
17 and 20 to discuss bilateral farm trade issues. Lyng will
visit Tokyo from April 16 to 27.
Kato told reporters after a cabinet meeting all topics ofconcern to the U.S. Will be discussed, such as tra... | Commodities and Trade |
NEW DUTCH ADVANCES TOTAL 4.1 BILLION GUILDERS
| The Duth Central bank said it accepted
bids totalling 4.086 billion guilders at tender for the new
twelve-day special advances at an unchanged 5.3 pct.
Bids up to 30 mln guilders were met in full, amounts above
at 40 pct.
The new advances, covering the period April 3 to 15,
replace the current 4.2... | Other |
GERMAN MARCH UNADJUSTED JOBLESS FALLS
| West German unemployment, unadjusted
for seasonal factors, fell to 2.41 mln in March from 2.49 mln
in February, the Federal Labour Office said.
The total represents 9.6 pct of the workforce compared with
10.0 pct in February.
The seasonally adjusted jobless total rose, however, in
March to 2.23 ml... | Financial Reports |
U.K. MONEY MARKET DEFICIT FORECAST AT 700 MLN STG
| The Bank of England said it has forecast
a shortage of around 700 mln stg in the system today.
Among the main factors, maturing assistance and take-up of
treasury bills will drain 546 mln stg, bills for repurchase by
the market 76 mln, a rise in note circulation 310 mln and
bankers balances below target... | Corporate News |
PORLA CRUDE PALM OIL TRADE REPORT FOR APRIL 2
| The Palm Oil Registration and
Licensing Authority (PORLA) reports trade in crude palm oil
(cpo) on April 2 as follows in ringgit per tonne delivered
unless stated.
April 752.50 south and central 751 north average 752.50
down 6.50. May 750 south down 11.
Refined palm oil traded in bulk US dlrs per ... | Corporate News |
TAIWAN ISSUES MORE CERTIFICATES OF DEPOSIT
| The Central Bank issued 5.65 billion dlrs
worth of certificates of deposit (CDs), boosting CD issues so
far this year to 147.58 billion, a bank spokesman told Reuters.
The new CDs, with maturities of six months, one year and
two years, carry interest rates ranging from 4.07 pct to 5.12
pct, he said.
... | Commodities and Trade |
MIM COMPLETES PART OF NORDDEUTSCHE AFFINERIE BUY
| MIM Holdings Ltd <MIMA.S> said it has
issued 23.33 mln shares to Preussag AG <PRSG.F> to complete the
previously announced purchase of 20 pct of <Norddeutsche
Affinerie AG> from Preussag.
Terms of the acquisition of 10 pct of Norddeutsche
Affinerie from Degussa AG <DGSG.F> are currently bein... | Corporate News |
DANISH UNEMPLOYMENT FALLS TO 7.8 PCT IN FEBRUARY
| Denmark's seasonally adjusted
unemployment rate fell to 7.8 pct of the workforce in February
from 7.9 pct in January, against 7.9 pct in February 1986, the
National Statistics Office said.
The total number of unemployed in February was 213,200
against 215,700 in January and 216,600 in February, 1986.
... | Corporate News |
EUROPEAN SOY/FEED MARKET OPENS QUIETLY
| Meals and feed on a cif Rotterdam
basis opened quietly this morning with mixed to slighlty firmer
seller indications compared with yesterday's midday levels,
market sources said.
Early buying interest was low despite a weaker dollar
against European currencies, they added. No trades were
reported so f... | Corporate News |
PAKISTANI DECISION WILL HURT KENYAN TEA EXPORTS
| Pakistan's decision to suspend tea
import licences will hurt Kenyan tea exports in the short term
while exporters seek new markets, sources close to Nairobi
broking houses and exporters said.
Broking house officials in the Sri Lankan capital Colombo
yesterday told Reuters Pakistan had suspended the lice... | Other |
SWEDISH PRIME MINISTER'S CHINA VISIT BOOSTS TRADE
| An big expansion in bilateral trade is
expected as a result of Swedish Prime Minister Ingvar
Carlsson's visit to China, a official of China's Foreign
Economic Relations and Trade Ministry official said.
He told the China Daily that petroleum, coal, cotton,
non-ferrous metals and electric engines could h... | Other |
TAIWAN BUYS 54,000 TONNES OF U.S. SOYBEANS
| The joint committee of Taiwan soybean
importers awarded a contract to Cigra Inc of Chicago to supply
a 54,000 tonne cargo of U.S. Soybeans, a committee spokesman
told Reuters.
The cargo, priced at 213.87 U.S. Dlrs per tonne c and f
Taiwan, is for delivery between April 20 and May 5.
| Corporate News |
SOUTH KOREAN MONEY SUPPLY FALLS IN MARCH
| South Korea's M-2 money supply fell two
pct to 33,463.4 billion won in March from 34,030.3 billion in
February, provisional Bank of Korea figures show.
It rose a revised 0.5 pct in February and was up 14.7 pct
from a year earlier.
M-1 money supply fell 8.7 pct to 7,767.8 billion won in
March again... | Corporate News |
SKANDIA INTERNATIONAL BUYS STAKE IN NEVI BALTIC
| <Skandia International Holding AB>,
the overseas offshoot of Swedish insurance group Forsakrings AB
Skandia <SKDS.ST> said it was buying a 29.9 pct share in the
London-quoted property and financial services company <Nevi
Baltic Plc>. No financial details were given.
Nevi Baltic, with a 1986 tur... | Commodities and Trade |
AMERICAN AIRCRAFT BUYS INTO HELICOPTER BUILDER
| <American Aircraft Corp> said it
has acquired a 51 pct interest in privately-owned <Hunter
Helicopter of Nevada Inc> for an undisclosed amount of stock.
An American Aircraft official said the company has an
option to acquire the remaining 49 pct.
Hunter Helicopter is in the business of buildin... | Commodities and Trade |
LONDON SUGAR OPENS STEADY BUT QUIET
| Raw sugar futures had a quiet opening
call of 38 lots with prices holding steady from last night with
gains of 20 to 80 cents a tonne, dealers said.
Aug was trading at 157.60 dlrs from 157.40 asked yesterday.
The modest rise continued the recent rally from an oversold
situation but, dealers noted, t... | Commodities and Trade |
AUSTRALIAN TUG CREWS DELAY FOREIGN CONTAINER SHIPS
| Tug crews are preventing the movement of
foreign-flag container vessels in and out of the ports of
Sydney, Melbourne and Fremantle, shipping sources said.
They said maritime unions imposed bans on late Wednesday
for reasons that are obscure but seem to be linked with claims
for a pay rise above the 10 d... | Commodities and Trade |
U.K. WHEAT MARKET EASES ON INTERVENTION RELEASE
| U.K. Domestic wheat markets dropped about
one stg per tonne early this morning following overnight news
that the EC is releasing a further 300,000 tonnes of wheat from
British intervention stores for the home market over a three
month period.
April deliveries of denaturable wheat were offered in East
... | Financial Reports |
LONDON COCOA TRADES AT LOWS BY MIDMORNING
| Cocoa futures fell to session lows by
midmorning, posting losses from last night of six to two stg a
tonne in 1987 deliveries, dealers said.
Weekend profittaking by jobbers and general book-squaring
featured the fall which was aided by steady sterling versus the
dollar and lack of offtake in the physica... | Financial Reports |
HORIZ0N AGREES TO 94.8 MLN STG BID FROM BASS
| Bass Plc <BASS.L> and <Horizon Travel
Plc> said terms have been agreed for an offer worth around 94.8
mln stg for Horizon by Bass.
The offer values each Horizon share at some 0.213 of a Bass
ordinary share, or 190p. This is based on a price of 892p, the
Bass share quotation at 1630 gmt on April 2.... | Corporate News |
ROTTERDAM'S MAIN GRAIN TERMINAL CLOSED BY STRIKE
| Grain handling at Rotterdam port's
main grain terminal was at a standstill today as members of the
largest Dutch transport union FNV staged a lightning strike for
the third day running.
Pieter van der Vorm, managing director of Graan Elevator
Mij (GEM), which handles 95 pct of grain passing through the
... | Market and Economy |
PREMIER INDUSTRIAL CORP <PRE> REGULAR DIVIDEND
| Qtly div 11 cts vs 11 cts in prior qtr
Payable April 10
Record March 23
| Commodities and Trade |
SOUTH KOREA TO PAY MORE FOR JAPANESE ETHYLENE
| South Korea will pay about 20 pct more for
ethylene imported from Japan in the second quarter of the year
because increased plastic production in both countries has
boosted demand and tightened supplies, chemical industry
sources said.
South Korea has agreed to pay Japanese trading houses just
over 40... | Corporate News |
SWISS 1988 INFLATION SEEN AT TWO PCT - INSTITUTE
| Swiss inflation is likely to rise in 1987
and 1988 because of inflationary tendencies in the domestic
economy, the Centre for Economic Research of the Federal
Institute of Technology said in its spring review.
It forecast a rise in consumer prices of two pct in 1988
compared with 1.3 pct in 1987. Low im... | Other |
LONDON SUGAR TRADES AT SESSION HIGHS BY MIDMORNING
| Raw sugar futures firmed to session highs
by midmorning, securing gains from last night's basically
steady close of 1.00 to 1.80 dlrs a tonne in a 166 lot volume.
Shortcovering against an oversold situation continued to
play a part in the extended rally with unsettled dollar rates
versus sterling provid... | Other |
BELGIUM CUTS TREASURY CERTIFICATE RATES
| The Belgian National Bank cut interest
rates on one, two and three-month treasury certificates to 7.30
pct from 7.40 pct effective immediately, the bank said in a
telex message.
The Bank last adjusted its short-term treasury certificate
rates on March 23, when it also reduced rates for all three
perio... | Other |
CLOSURE OF BP SWEDEN REFINERY FORECAST
| A Swedish Finance Ministry committee
forecast that British Petroleum Plc <BP.L> may have to close
its refinery in Gothenburg because of an anticipated worsening
of the Swedish petroleum industry's competitiveness.
It said in a report that the future of the Swedish refining
business was bleak due to t... | Other |
RECENT SUGAR FALL SPARKS SOVIET, CHINESE BUYING
| The recent fall in world sugar prices,
due to increased producer pricing sales and evidence of export
availability, has encouraged renewed buying interest from China
and the Soviet Union, London trade house E.D.And F. Man said.
Further purchases are expected by the Peoples Republic of
China at the lower... | Corporate News |
NO INTERVENTION, DOLLAR FIXED AT 1.8162 MARKS
| The Bundesbank did not intervene as
the dollar was fixed lower at 1.8162 marks after 1.8270
yesterday, dealers said.
The dollar firmed slightly from its opening 1.8135/45 marks
in very quiet pre-weekend trading and dealers said they
expected business to remain thin this afternoon.
"Trading is at a... | Industrial and Sector News |
HINDUSTAN LEVER PROFITS RISE FOR 1986
| Shr 8.4 rupees vs seven
Pretax profit 650.7 mln vs 555.6 mln
Net profit 390.7 mln vs 325.6 mln
Sales 8.24 billion vs 7.07 billion
Div 34 pct vs 30 pct
Tax 260 mln vs 230 mln
Dividend payable on June 3
The company is 51 pct subsidiary of Unilever Plc.The full
name of the com... | Financial Reports |
U.K. MONEY MARKET DEFICIT REVISED UPWARD
| The Bank of England said it has revised
its estimate of today's shortfall to 750 mln stg from 700 mln.
| Corporate News |
INDIA BUYS VEGETABLE OILS, PAKISTAN TO RETENDER
| The Indian State Trading Corporation
(STC) bought 20,000 tonnes of optional origin soybean oil and
6,000 tonnes of rbd palm olein at its import tender yesterday,
traders said.
Pakistan, however, rejected offers at its tender for 12,000
tonnes of rbd palm oil, but is expected to reenter the market
next... | Corporate News |
DUTCH SOYMEAL IMPORTS FALL IN JANUARY
| Dutch soymeal imports fell
to 75,500 tonnes in January from 97,070 in December and 120,228
in January 1986, Central Bureau of Statistics figures show.
The U.S. Was the largest supplier in January with 38,760
tonnes, down from 46,899 in December and 63,111 in January
1986.
Brazil supplied 1,263 ton... | Commodities and Trade |
SPAIN REVISES ECONOMIC TARGETS FOR 1987
| Spain has revised some of its main
economic targets for 1987 after studying the performance of the
economy in the first quarter, the economy ministry said in its
monthly bulletin.
Internal demand is now forecast to rise four pct against a
previous target of 3.5 pct.
Mariano Rubio, governor of the ... | Commodities and Trade |
U.K. MONEY MARKET RECEIVES 170 MLN STG HELP
| The Bank of England said it has operated
in the money market this morning, purchasing 170 mln stg bank
bills. This compares with the Bank's revised estimate of a 750
mln stg shortfall. In band two the Bank bought 72 mln stg at
9-13/16 pct, in band three 52 mln at 9-3/4 pct and in band four
46 mln at 9-11/16... | Corporate News |
BEGHIN-SAY NOT PLANNING TO WITHDRAW SUGAR
| French sugar producer Beghin-Say is not
currently planning to withdraw the sugar it has placed into
intervention, despite the exceptionally high rebate awarded at
this week's European Community (EC) sugar tender, Beghin-Say
President Jean-Marc Vernes told Reuters.
The maximum rebate of 46.864 Ecus per 1... | Corporate News |
STOLTENBERG SAYS PARIS ACCORD POLICY TO CONTINUE
| West German Finance Minister Gerhard
Stoltenberg said the currency agreement reached in Paris in
February had been successful and would be continued.
Stoltenberg told journalists before he attends next week's
International Monetary Fund meeting in Washington that: "The ...
Strategy to stabilise currenci... | Corporate News |
JAPAN ASKS BANKS TO CUT DOLLAR SALES - DEALERS
| The Finance Ministry has asked Japanese
commercial banks to moderate their dollar sales, bank dealers
said.
They said the Ministry had telephoned city and long-term
banks earlier this week to make the request.
One dealer said this was the first time the Ministry had
made such a request to commerci... | Corporate News |
CBT METALS/FINANCIALS DELIVERY LOCATIONS
| The following deliveries are scheduled
for April 6 against Chicago Baord of Trade Futures -
Silver - 392 lots at Chicago, Illinois.
Kilo Gold - 21 lots. 16 at Chicago, Illinois, 5 at New
York, New York.
| Corporate News |
PIONEER SUGAR SAYS CSR TAKEOVER OFFER TOO LOW
| <Pioneer Sugar Mills Ltd> said it
considered the proposed 2.20 dlrs a share cash takeover offer
announced by CSR Ltd <CSRA.S> on March 31 to be too low in view
of the group*hK!UiIe and prospects.
CSR's bid for the 68.26 pct of Pioneer's 99.80 mln issued
shares it does not already hold values the e... | Financial Reports |
GERMAN CHEMICAL INDUSTRY SEES LOWER PROFITS
| West Germany's chemical
industry fears mounting risks will hurt earnings but hopes 1987
turnover will stabilize around 1986's 140 billion marks, Josef
Strenger, a board member of the industry association VCI, said.
Strenger, management board chairman of Bayer AG <BAYG.F>,
told a news conference at th... | Other |
LIEBERT CORP <LIEB> APPROVES MERGER
| Liebert Corp said its shareholders
approved the merger of a wholly-owned subsidiary of Emerson
Electric Co <EMR>.
Under the terms of the merger, each Liebert shareholder
will receive .3322 shares of Emerson stock for each Liebert
share.
| Financial Reports |
INTERNATIONAL TECHNOLOGY <ITX> BUYS FIRM
| International Technology Corp
said it has purchased privately-held Western Emergency Service
Inc in a stock transaction.
Western Emergency, an environmental services firm, has
annual sales of between one and two mln dlrs, compared to
International Technology's roughly 240-mln-dlr annual sales, a
spoke... | Other |
GERMAN NET CURRENCY RESERVES RISE
| West German net currency reserves rose
by 200 mln marks in the fourth week of March to 82.2 billion,
following a rise of 300 mln marks in the previous week, the
Bundesbank said.
Non-currency reserves were unchanged at about 2.5 billion
marks, bringing net monetary reserves to 84.7 billion.
| Corporate News |
LONDON GRAINS SEES WHEAT RECOVER FROM LOWS
| U.K. Physical wheat values recovered from
initial losses of one to two stg per tonne caused by overnight
news of the release of an additional 300,000 tonnes of
intervention feed wheat for U.K. Weekly home market tenders.
Consumer buyers were attracted by the cheaper offers,
traders said, and by early af... | Corporate News |
NORSK HYDRO, SAGA SEEK DRILLING RIGHTS IN GABON
| Norwegian oil companies Norsk Hydro A/S
<NHY.OL> and Saga Petroleum A/S <SAGO.OL> said they have
applied for offshore exploration drilling licenses in Gabon on
Africa's west coast.
Saga Petroleum said it has applied for a 35 pct share and
operatorship on one block, adding Finnish oil company Neste... | Financial Reports |
TOP DISCOUNT RATE AT UK BILL TENDER RISES TO 9.5261 PCT
|
TOP DISCOUNT RATE AT UK BILL TENDER RISES TO 9.5261 PCT
| Financial Reports |
U.S. TREASURY POLICIES SAID UNCHANGED BY DEPARTURE
| The departure of James Baker's
closest aide, Deputy Treasury Secretary Richard Darman, will
not change the course of Washington's domestic and
international economic policies, U.S. officials said.
Darman, who has worked alongside Baker for six years, was
widely credited with helping him mastermind initi... | Industrial and Sector News |
TOP DISCOUNT RATE AT UK BILL TENDER 9.5261 PCT
| The top accepted rate of discount at the
weekly U.K. Treasury bill tender rose to 9.5261 pct from
9.3456 pct last week.
Applications at the lowest accepted price of 97.625 stg
were allotted around 81 pct of the amount applied for, and
applications above that price were allotted in full, the Bank
o... | Financial Reports |
U.K. MONEY MARKET DEFICIT FURTHER REVISED UPWARD
| The Bank of England said it has revised
its estimate of today's shortfall to 800 mln stg from 750 mln,
before taking account of 170 mln stg morning assistance.
| Industrial and Sector News |
DUTCH COCOA BEAN IMPORTS RISE IN JANUARY
| Total Dutch imports of cocoa beans
rose to 17,978 tonnes in January from 13,961 in January 1986,
while exports fell to 1,852 tonnes from 3,111, the Central
Bureau of Statistics said.
Cocoa butter imports rose slightly to 1,699 tonnes from
1,507, while exports fell slightly to 6,211 from 6,293 tonnes.
... | Corporate News |
DUTCH GREEN COFFEE IMPORTS FALL IN JANUARY
| Dutch green coffee imports fell to
10,430 tonnes in January from 13,506 tonnes in January 1986,
and exports fell to 366 tonnes from 615, the Central Bureau of
Statistics said.
Imports of Colombian coffee were 2,169 tonnes (3,025 in
January 1986), Brazilian 483 (3,715), Indonesian 455 (145),
Guatemalan... | Corporate News |
EC MINISTERS WILL DISCUSS STRENGTHENING EMS FLOAT
| European Community finance ministers
and central bankers meet in Belgium this weekend to discuss
strengthening Europe's joint currency float amid continuing
worries about turbulence on foreign exchanges.
Belgian Finance Minister Mark Eyskens, who will host the
informal talks, told Reuters the ministers ... | Corporate News |
CANADA MARCH FOREIGN RESERVES RISE 1.23 BILLION U.S. DLRS - OFFICIAL
|
CANADA MARCH FOREIGN RESERVES RISE 1.23 BILLION U.S. DLRS - OFFICIAL
| Corporate News |
U.S. MARCH JOBLESS RATE FELL TO 6.6 PCT
| The U.S. civilian unemployment rate
fell to 6.6 pct in March from 6.7 pct in February, the Labor
Department said.
The number of non-farm payroll jobs rose 164,000 last month
after rising a revised 236,000 in February. That was down from
the previously reported 337,000 rise in February.
The March u... | Corporate News |
U.K. MONEY MARKET GETS 347 MLN STG AFTERNOON HELP
| The Bank of England said it has operated
in the money market this afternoon, buying back bills totalling
347 mln stg. This brings the total help so far today to 517 mln
stg and compares with the Bank's revised estimate of an 800 mln
stg shortfall.
The central bank purchased in band one 20 mln stg at 9-7... | Financial Reports |
ALTEX <AII> SETS ACQUISITION OF COMPUTER FIRMS
| Altex Industries Inc said it has agreed
in principle to buy 82 pct of two privately-held affiliated
computer retail companies for an undisclosed amount.
Altex said the Denver-based companies had revenues of over
seven mln dlrs last year. They are Integrated Management Data
Systems Inc, which sells accou... | Financial Reports |
AUSTRALIA TUG CREWS BAR FOREIGN CONTAINER SHIPS
| Tug crews are preventing the movement of
foreign-flag container vessels in and out of the ports of
Sydney, Melbourne and Fremantle, shipping sources said.
They said maritime unions imposed bans on late Wednesday
for reasons that are obscure but seem to be linked with claims
for a pay rise above the 10 d... | Commodities and Trade |
STANLINE INC <STAN> REGULAR DIVIDEND
| Qtly div eight cts vs eight cts in prior qtr
Payable April 30
Record April 15
Company said its board intends to declare cash dividends
quarterly and plans to pay a five pct stock dividend annually
following the close of each fiscal year. The initial five pct
stock dividend was paid December 22... | Financial Reports |
TALKING POINT/SANTA FE SOUTHERN <SFX>
| Santa Fe Southern Pacific Corp may have
more difficulty combining its two railroads than fending off a
possible takeover by Henley Group <HENG>, which has accumulated
almost a five pct stake in the real estate and railroad
conglomerate, analysts said.
Takeover speculation has surrounded Santa Fe sinc... | Financial Reports |
CANADIAN FOREIGN RESERVES SURGE IN MONTH
| Canadian foreign reserve holdings rose
1.23 billion U.S. dlrs in March to 7.77 billion dlrs, the
Finance Department said.
The department said the change from February included a
decrease of 258.1 mln dlrs from the repayment, at maturity, of
a 1982 Swiss Franc 400 mln issue.
Also included was also ... | Corporate News |
CONTINENTAL GENERAL INSURANCE <CGIC> 4TH QTR NET
| Shr 20 cts vs 21 cts
Net 783,564 vs 806,278
Year
Shr 89 cts vs 86 cts
Net 3,443,392 vs 3,242,588
Note:Full company name is Continental General Insurance Co
Net includes profit from sale of securities of 155,410
dlrs, or four cts a share, and 192,896 dlrs, or five cts a
share, r... | Corporate News |
JAPAN STUDY URGES FOREIGN ACCESS TO FARM MARKETS
| Japan should increase foreign access to
its farm products market, while encouraging further development
of domestic agriculture, a government report said.
The white paper on agriculture for the year ended March 31
said active participation in writing world farm trade rules at
the next round of General A... | Other |
HILTON <HLT> 1ST QTR EARNINGS UP ABOUT 37 PCT
| Hilton Hotels Corp said
its first quarter net income rose 37 pct, paced by strength in
both hotels and gaming.
Based on preliminary results, the company said, net income
rose to about 24 mln dlrs, or 96 cts a share, from 17.4 mln
dlrs, or 70 cts a share, in 1986's initial three months.
| Other |
PIONEER SUGAR SAYS CSR TAKEOVER OFFER TOO LOW
| <Pioneer Sugar Mills Ltd> said it
considered the proposed 2.20 dlrs a share cash takeover offer
announced by CSR Ltd <CSRA.S> on March 31 to be too low in view
of the group*hK!UiIe and prospects.
Pioneer recommended in a statement that shareholders retain
their stock, pending the board's response ... | Financial Reports |
SURALCO OFFERS CASH FOR WORKERS TO LEAVE
| The U.S.-owned <Surinam Aluminum
Company> (SURALCO) offered workers a lump sum and up to five
months' wages to quit the firm because jungle-based rebels have
disrupted bauxite mining and alumina smelting, ANP said.
The Dutch news agency said SURALCO, a subsidiary of the
Aluminum Company of America(AL... | Industrial and Sector News |
GENERAL PARTNERS WILLING TO PAY 110 DLRS/SHARE FOR GENCORP
|
GENERAL PARTNERS WILLING TO PAY 110 DLRS/SHARE FOR GENCORP
| Corporate News |
MARGAUX CONTROLS INC <MARGX> 3RD QTR LOSS
| Shr loss 1.60 dlrs vs loss 45 cts
Net loss 9,883,000 vs loss 2,744,000
Revs 1,309,000 vs 3,289,000
Nine mths
Shr loss 2.29 dlrs vs loss 98 cts
Net loss 14.1 mln vs loss 6,008,000
Revs 4,577,000 vs 11.9 mln
NOTE: Current periods include loss of 7.5 mln dlrs from
discontinued... | Corporate News |
U.K. MONEY MARKET RECEIVES 205 MLN STG LATE HELP
| The Bank of England said it has provided
around 205 mln stg late assistance to the market, bringing the
total help today to 722 mln which compares with the Bank's
revised deficit forecast of 800 mln stg.
| Corporate News |
BELGIAN MONEY SUPPLY RISES IN FOURTH QUARTER 1986
| Belgian total money stock rose to
1,140.4 billion francs at the end of 1986 from 1,115.4 billion
at the end of the third quarter of last year and 1,055.0
billion at the end of 1985, Belgian National Bank figures
showed.
Paper money rose to 404.1 billion francs from 394.1 billion
and 383.5 billion resp... | Corporate News |
STOLTENBERG SAYS PARIS ACCORD POLICY TO CONTINUE
| West German Finance Minister Gerhard
Stoltenberg said the currency agreement reached in Paris in
February had been successful and would be continued.
Stoltenberg told journalists before he attends next week's
International Monetary Fund meeting in Washington that: "The ...
Strategy to stabilise currenci... | Corporate News |
BRAZILIAN COFFEE RAINFALL
| THE FOLLOWING RAINFALL WAS RECORDDD IN
THE AREAS OVER THE PAST 24 HOURS
PARANA STATE UMUARAMA 10.6 MILLIMETRES, PARANAVAI 12.2 MM,
LONDRINA 6.0 MM, MARINGA 8.0 MM.
SAO PAULO STATE: PRESIDENZE PRUDENTE 1.0 MM, VOTUPORANGA
26.0 MM, FRANCA NIL, CATANDUVA 0.1 MM, SAO CARLOS NIL, SAO
SIMAO NIL. REUTER... | Commodities and Trade |
AVERAGE DISCOUNT RATE AT UK BILL TENDER 9.5195 PCT
| The average rate of discount at today's
U.K. Treasury bill tender rose to 9.5195 pct from 9.3157 pct
last week, the Bank of England said.
This week's 100 mln stg offer of 91-day bills met
applications of 327 mln stg, the bank said.
Applications for bills dated Monday to Friday at the top
accepted ... | Corporate News |
IMF, WORLD BANK TO MEET AMID NEW INFLATION FEARS
| Amid new concerns about inflation,
interest rate increases and trade confrontations,
finance ministers and central bankers meet next week to discuss
a deteriorating global debt and economic situation.
The meetings, under the auspices of the International
Monetary Fund and World Bank, come as interest ra... | Commodities and Trade |
LONDON FREIGHT MARKET FEATURES USSR TIMECHARTERS
| Active timecharter fixing by Soviet
operators to cover USSR grain imports featured the freight
market, ship brokers said.
At least two fixtures were reported on Soviet account to
lift EC grain, with a 22,000 tonner booked from Tilbury for a
voyage via lower Baltic Sea and redelivery passing Skaw at
4,... | Corporate News |
MERCHANTS GROUP INC <MRCH> 4TH QTR OPER NET
| Oper shr profit 21 cts vs loss 2.13 dlrs
Oper net profit 456,000 vs loss 2,454,000
Revs 16.3 mln vs 13.1 mln
Year
Oper shr 1.39 dlrs vs loss 2.41 dlrs
Oper net profit 1,815,000 vs loss 2,779,000
Revs 58.0 mln vs 43.8 mln
NOTE: 1986 4th qtr and yr oper net exclude realized
i... | Commodities and Trade |
NERCO <NER> TO ACQUIRE INTEREST IN GAS FILED
| Nerco Inc said it has agreed to
acquire a 47 pct working interest in the Broussard Gas Field in
southern Louisiana from privately-owned <Davis Oil Co> for
about 22.5 mln dlrs in cash.
Nerco said the interest being purchased will give it
estimated proven oil and gas reserves equal to six billion
cub... | Corporate News |
CANRAD <CNRD> ACQUIRES MEASUREMENT SYSTEMS
| Canrad Inc said it acquired the
Measurement Systems Division of <Page-Wilson Corp> for an
undisclosed amount of cash.
Canrad said the acquisition is expected to increase its
annual revenues by about 10 mln dlrs.
| Commodities and Trade |
PANTERA'S <PANT> ACQUIRES 10 RESTAURANTS
| Pantera's Corp said it closed on its
agreement to acquire ten pizza restaurant locations in
southeastern Colorado.
It said the purchase price was 1,250,000 dlrs, which was
paid by cash and stock.
| Commodities and Trade |
NORANDA SAYS FIRE CAUSED 10 MLN DLRS IN DAMAGE
| <Noranda Inc> said a copper
mine fire that killed one miner and trapped 44 others for
nearly a day caused an estimated 10 mln Canadian dlrs in
damage.
The fire, which started Wednesday and burned for more than
24 hours, destroyed the mine's three-year-old conveyor system,
officials said.
Mich... | Commodities and Trade |
GENERAL PARTNERS TO RAISE BID FOR GENCORP <GY>
| <General Partners> said it was
prepared to raise its bid for GenCorp Inc to 110 dlrs cash per
share from 100 dlrs per share.
In a letter from General Partners to A. William Reynolds,
chairman and chief executive officer of GenCorp, the company
stated that if GenCorp could prove the company was worth ... | Corporate News |
MANGOOD CORP <MAB> YEAR OPER LOSS
| Oper shr loss 6.07 vs loss 7.64 dlrs
Oper net loss 6,235,000 vs loss 4,801,000
Sales 70.1 mln vs 60.6 mln
Avg shrs 1,028,000 vs 629,000
NOTE: 1986 earnings exclude a gain on restructuring of
3,143,000 dlrs, or 3.01 dlrs a share
| Commodities and Trade |
NORANDA COPPER MINE FIRE CAUSED HEAVY DAMAGE
| <Noranda Inc> said a copper
mine fire that killed one miner and trapped 44 others for
nearly a day caused an estimated 10 mln Canadian dlrs in
damage.
The fire, which started Wednesday and burned for more than
24 hours, destroyed the mine's three-year-old conveyor system,
officials said.
Mich... | Other |
<AMERICAN WEST BANK> FIRST QTR NET
| Net 90,501 vs 56,960
Assets 42.0 mln vs 34.9 mln
Deposits 35.9 mln
Loans 27.6 mln vs 23.9 mln
NOTE: earnings per share and 1985 deposits figure not
supplied by company.
| Other |
R.R. DONNELLY <DNY> TO SELL CABLE SYSTEM
| R.R. Donnelly and Sons Co said it
reached an agreement with Adams-Russell Co Inc <AAR> to sell
Adams its Rockford, Ill., cable system for an undisclosed
price.
R.R. Donnelly said it expects the deal to close in about
120 days, subject to regulatory approvals and other conditions.
The cable syst... | Other |
BIOMET INC <BMET> 3RD QTR FEB 28 NET
| Shr 18 cts vs 13 cts
Net 2,133,000 vs 1,384,000
Revs 14.1 mln vs 11.7 mln
Nine mths
Shr 49 cts vs 36 cts
Net 5,657,000 vs 3,728,000
Revs 39.7 mln vs 31.8 mln
| Corporate News |
CONTINENTAL GENERAL <CGIC> SETS STOCK DIVIDEND
| Continental General Insurance Co
said its board of directors declared a 10 pct stock dividend on
common shares, payable April one to shareholders of record
March 16.
The company yesterday paid a quarterly cash dividend of
2-1/2 cts a share, unchanged from the previous quarter, to
shareholders of recor... | Commodities and Trade |
SPAIN AGREES SALE OF CORN TO GREECE
| Greece has agreed to buy between 27,000
and 33,000 tonnes of Spanish corn, a spokesman for Cargill's
Spanish unit Compania Industrial y de Abastecimiento S.A.
(CINDASA) said.
He told Reuters the sale price was around 28.95 pesetas per
kilo but that the final quantity and delivery date has not yet
been... | Commodities and Trade |
EAC INDUSTRIES INC <EAC> 4TH QTR OPER LOSS
| Period ended Jan 31
Oper shr loss 66 cts vs loss 1.29 dlrs
Oper net loss 1,309,000 vs loss 2,522,000
Sales 25.1 mln vs 19.9 mln
Year
Oper shr loss 65 cts vs loss 97 cts
Oper net loss 1,287,000 vs loss 1,882,000
Sales 113.4 mln vs 76.6 mln
NOTE: Earnings exclude a loss o... | Commodities and Trade |
BUNDESBANK GROSS RESERVES RISE AT MARCH CLOSE
| The Bundesbank's gross currency
reserves rose 300 mln marks in the last week of March to 104.9
billion marks, the Bundesbank said in a statement.
At the same time its foreign liabilities rose 100 mln to
22.8 billion, producing a rise in net reserves of 200 mln to
82.2 billion on March 31.
The Bund... | Commodities and Trade |
TURKISH CENTRAL BANK SETS LIRA/DOLLAR, DM RATES
| Turkey's Central Bank set a lira/dollar
rate for April 6 of 781.95/785.86 to the dollar, up from
782.50/786.41. It set a lira/D-mark rate of 430.15/432.30 to
the mark, down from 428.30/430.44.
| Industrial and Sector News |
WESSANEN FORESEES STRONG PROFIT GROWTH
| Dutch dairy and general foods
manufacturer Koninklijke Wessanen NV <WESS.AS>, said it is
planning further world-wide acquisitions and forsees strong
profit growth over the next 10 years.
Company chairman Gerrit van Driel told journalists at the
presentation of Wessanen's 1986 report he already expec... | Commodities and Trade |
MARGAUX CONTROLS INC <MARGX> 3RD QTR DEC 28 LOSS
| Shr loss 1.60 dlrs vs loss 45 cts
Net loss 9,883,000 vs loss 2,744,000
Revs 1,309,000 vs 3,289,000
Nine mths
Shr loss 2.29 dlrs vs loss 98 cts
Net loss 14.1 mln vs loss 6,008,000
Revs 4,577,000 vs 11.9 mln
Note: 1986 net losses inlcude 7,507,000-dlr charge from
discontinued... | Commodities and Trade |
FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES
| The Federal Home Loan Bank Board
adjusted the rates on its short-term discount notes as follows:
MATURITY NEW RATE OLD RATE MATURITY
30-273 days 5.00 pct 5.00 pct 30-89 days
274-294 days 5.92 pct 5.83 pct 90-100 days
295-344 days 5.00 pct 5.00 pct 101-181 days
345-360 days 5.93 p... | Corporate News |
3-APR-1987 10:09:10.28
| 3-APR-1987 10:09:10.28
| Commodities and Trade |
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