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TAIWAN BUYS 340,000 TONNES OF U.S. MAIZE
| The joint committee of Taiwan's maize
importers awarded contracts to five U.S. Companies for seven
shipments totalling 340,000 tonnes of maize for delivery
between September 1 and December 20, a committee official said.
United Grain Corp of Oregon won two contracts for the
supply of 110,000 tonnes, pric... | Other |
VIDEO DISPLAY <VIDE> TO SELL CABLE TV UNIT
| Video Display Corfp said it has reached
a tentiative agreement to sell its existing cable television
business for undisclosed terms and expects to report a gain on
the transaction. The buyer was not named.
The company said it will redeploy its service assets into
manufacturing and distribution.
I... | Commodities and Trade |
U.K. MONEY MARKET DEFICIT FORECAST AT 700 MLN STG
| The Bank of England said it forecast a
shortage of around 700 mln stg in the money market today.
Among the main factors affecting liquidity, bills maturing
in official hands will drain some 501 mln stg while a rise in
note circulation and bankers' balances below target will take
out around 285 mln stg a... | Commodities and Trade |
JAPAN ALUMINIUM OUTPUT FALLS IN FEBRUARY
| Japanese aluminium output fell to 5,298
tonnes in February from 7,472 in January and 14,280 a year
earlier, preliminary International Trade and Industry Ministry
figures show.
Output fell sharply from a year ago as most aluminium firms
stopped smelting in the past year due to cheap imports,
industry s... | Commodities and Trade |
Bank of France buying dollars for yen - banking sources
|
Bank of France buying dollars for yen - banking sources
| Market and Economy |
JAPAN ALUMINIUM IMPORTS RISE IN FEBRUARY
| Japanese primary aluminium imports rose
to 98,170 tonnes in February from 91,157 in January and 94,926
a year earlier, the Japan Aluminium Federation said.
This brought total imports in 1986/87, ending March 31, to
1.09 mln tonnes against 1.25 mln a year earlier.
The February total included 19,102 t... | Financial Reports |
MITSUBISHI MOTORS AUSTRALIA MAKES 19 MLN DLR LOSS
| <Mitsubishi Motors Australia Ltd>
(MMAL) reported a 19.64 mln dlr net loss in calendar 1986 from
a 5.80 mln dlr profit in 1985 on turnover of 837.79 mln dlrs
from 942.89 mln.
MMAL, 99 pct-owned by Mitsubishi Motors Corp <MIMT.T> and
Mitsubishi Corp <MITT.T>, said a tight market meant it had
... | Corporate News |
INTEK DIVERSIFIED CORP <IDCC> 4TH QTR NET
| Shr three cts vs three cts
Net 98,20000 vs 91,898
Revs 2,843,520 vs 2,372,457
Year
Shr 13 cts vs 21 cts
Net 401,179 vs 681,374
Revs 10.5 mln vs 9,699,535
| Corporate News |
INDIA BUYS 20,000 TONNES OF RAPESEED OIL
| The Indian State Trading Corporation
(STC) bought a 20,000 tonne cargo of optional origin rapeseed
oil at its vegetable oil import tender yesterday, traders said.
The oil was for June 20/July 20 shipment at 321 dlrs per tonne
cif.
Traders said the STC attempted to buy eight cargoes of
processed palm o... | Corporate News |
THAI TIN EXPORTS FALL IN FEBRUARY
| Thailand exported 1,120 tonnes of tin
metal in February, down from 1,816 tonnes the previous month
and 2,140 tonnes a year ago, the Mineral Resources Department
said.
It said major buyers last month were Britain, Japan, the
Netherlands, West Germany and the U.S.
| Commodities and Trade |
BOTSWANA BANS ZIMBABWE MEAT PRODUCTS, AGENCY SAYS
| Botswana has stopped importing almost
all meat products from Zimbabwe after reports of a suspected
outbreak of foot and mouth disease in the neighbouring country.
Botswana's official news agency, BOPA, announcing the ban
last night, quoted Agriculture Minister Daniel Kwelagobe as
saying only sterilised ... | Corporate News |
ALCAN AUSTRALIA BIDS FOR ALCAN NEW ZEALAND
| Alcan Australia Ltd <AL.S> said it will
make a 39.3 mln N.Z. Dlr cash bid for all the issued shares of
<Alcan New Zealand Ltd> at 1.80 N.Z. Dlrs each with a
four-for-three share alternative.
Both are 70 pct owned by Canada's Alcan Aluminium Ltd <AL>
which will take the share swap option, Alcan ... | Corporate News |
Bundesbank bought dollars against yen in Frankfurt - dealers
|
Bundesbank bought dollars against yen in Frankfurt - dealers
| Corporate News |
ESSILOR INTERNATIONAL <ESSI.PA> YEAR ENDED DEC 31
| Provisional consolidated net attributable profit 242.1 mln
francs vs 240.1 mln.
Investments 318 mln vs 317 mln.
Dividend on ordinary shares 45 francs vs 42 francs.
Dividend on priority shares 51 francs vs 48 francs.
| Other |
SOUTH AFRICAN MAIZE ESTIMATE CALLED CONSERVATIVE
| The South African government's
maize production estimate of 7.8 mln tonnes for the current
year is "rather too conservative," leading grain and produce
merchants Kahn and Kahn Pty Ltd said.
The company, in a detailed report, estimated the harvest as
high as 8.3 mln tonnes and said if this forecast is me... | Corporate News |
ITALIAN 1987 GDP GROWTH FORECAST AT THREE PCT
| Italy's gross domestic product (GDP) will
grow three pct in real terms this year and 2.7 pct in 1988,
said economic information company Data Resources Europe Inc
(DRI).
Michel Girardin, DRI Europe's senior economist, said at a
conference that Italian GDP growth this year "will be mainly
driven by cons... | Other |
TRADE SURPLUS WILL POSE ADDED PRESSURES FOR JAPAN
| Japan today announced another mammoth
monthly trade surplus that economists said would be sure to
intensify already mounting pressure on the country for action.
"The world has every reason to be furious with Japan for not
moving more quickly," Jardine Fleming (Securities) Ltd economist
Eric Rasmussen sa... | Financial Reports |
THYSSEN SEES GOOD 1987 PROFIT DESPITE STEEL LOSSES
| Thyssen AG <THYH.F> said
it expects to post a good profit in 1987 despite anticipated
losses in its mass steel-making operations this year.
Managing board chairman Dieter Spethmann told the annual
meeting the group was satisfied with profit developments in the
first half of the 1986/87 financial year... | Corporate News |
ECONOMIC SPOTLIGHT - DUTCH EXCHANGE RATE POLICY
| Recent slackness on Dutch capital
markets has led some bankers to question the Central Bank's
policy of pegging the guilder firmly to the West German mark
and to ask for more flexiblility in exchange rate policy.
While agreeing with the Bank's commitment to defend the
guilder strongly, some bankers want... | Financial Reports |
WORLD BANK CHIEF URGES MORE JAPANESE INVESTMENT
| World Bank President Barber Conable
called on Japan to boost investment in developing nations, for
its own sake as well as that of the world economy.
"Japan has the means to make a major contribution to
development in the Third World," he told about 500 Japanese
businessmen and academics. "I would be pl... | Corporate News |
HENKEL SELLS HAMBURG OIL AND FATS SUBSIDIARY
| Applied chemicals group Henkel KGaA
<HNKG.F> said it is selling its Hamburg vegetable oil and fats
subsidiary Noblee und Thoerl GmbH to Oelmuehle Hamburg AG.
A company spokesman declined to give the purchase price.
Noblee, a supplier of specialised refined oils and fats to the
food processing industr... | Corporate News |
<ELDERS RESOURCES LTD> FIRST HALF ENDED DEC 31
| Net shr 7.6 cents vs 3.0
Int div 3.0 cents vs nil
Net 16.93 mln vs 5.47 mln
Sales 160.14 mln vs 2.35 mln.
Other income 6.29 mln vs 10.05 mln
Shrs 223.16 mln vs 183.68 mln.
NOTE - Two-for-seven non-renounceable rights issue of 8.0
pct five-year subordinated convertible redeemable ... | Financial Reports |
U.S. SINGLE-FAMILY HOME SALES FELL 6.8 PCT IN JAN AFTER REVISED 12.1 PCT DEC GAIN
|
U.S. SINGLE-FAMILY HOME SALES FELL 6.8 PCT IN JAN AFTER REVISED 12.1 PCT DEC GAIN
| Corporate News |
NAKASONE TO VISIT WASHINGTON IN LATE APRIL
| Prime Minister Yasuhiro Nakasone will
make an official week-long visit to the United States from
April 29 and hold talks in Washington with President Reagan,
Chief Cabinet Secretary Masaharu Gotoda told reporters.
Government sources said Nakasone would try to resolve
growing bilateral trade friction and... | Financial Reports |
BANK OF SPAIN SUSPENDS ASSISTANCE
| The Bank of Spain suspended its daily
money market assistance obliging borrowers to take funds from
the second window, where on Wednesday rates were raised to 16
pct compared with 14 pct for normal overnight funds.
Money market sources said in view of high borrower demand
the suspension was likely to re... | Financial Reports |
NAKASONE HARD-PRESSED TO SOOTHE U.S ANGER ON TRADE
| Prime Minister Yasuhiro Nakasone will
visit Washington next month in a bid to defuse mounting U.S.
Anger over Japanese trade policies, but Western diplomats said
they believed his chances of success were slim.
Boxed in by powerful political pressure groups and
widespread opposition to his tax reform pla... | Corporate News |
U.K. MONEY MARKET GIVEN 265 MLN STG ASSISTANCE
| The Bank of England said it provided the
money market with 265 mln stg in assistance this morning.
This compares with the bank's estimate of the shortage in
the system of 750 mln stg, earlier revised up from 700 mln.
The central bank purchased bank bills outright comprising
119 mln stg in band one a... | Commodities and Trade |
BANK OF JAPAN INTERVENES TO STEM DOLLAR FALL
| The Bank of Japan intervened in the
market to keep the dollar above 149 yen but the unit was under
strong selling pressure by an investment trust, dealers said.
The central bank stepped into the market when the dollar
fell towards 149.00 yen, but a trust bank aggressively sold
dollars to hedge currency ... | Financial Reports |
BANK OF FRANCE AGAIN BUYING DOLLARS, SOURCES SAY
| The Bank of France intervened in the
Paris foreign exchange market this morning for the third
successive day, banking sources said.
Like yesterday, it bought dollars and sold yen in small
amounts, they said.
One dealer said it was seen in the market twice in early
dealing, buying five mln dlrs eac... | Corporate News |
BUNDESBANK BOUGHT DOLLARS AGAINST YEN, DEALERS SAY
| The Bundesbank entered the open
market in the late morning to buy dollars against yen in
concert with the Bank of France, dealers said.
The Bundesbank came into the market when the dollar was
around 148.10 yen just after it had fallen below 148 to touch
147.80 at 1027 GMT. The move had little effect, wi... | Financial Reports |
U.S. HOME SALES FELL 6.8 PCT IN JANUARY
| Sales of new single-family homes in
the United States fell 6.8 pct in January from December to a
seasonally adjusted annual rate of 716,000 units, the Commerce
Department said.
The department revised downward December's sales to a 12.1
pct rise to 768,000 units from the previously reported 12.7 pct
in... | Corporate News |
BRIERLEY BIDS 4.35 DOLLARS/SHARE FOR PROGRESSIVE
| <Brierley Investments Ltd> (BIL)
launched a full takeover bid for the supermarket group
<Progressive Enterprises Ltd> at 4.35 dlrs a share.
BIL said in a statement the offer is conditional on minimum
acceptances totalling 30 mln shares, just under 25 pct of the
120.4 mln Progressive shares on issu... | Corporate News |
S. African Feb trade surplus 1.62 billion rand vs Jan surplus 906.2 mln - official
|
S. African Feb trade surplus 1.62 billion rand vs Jan surplus 906.2 mln - official
| Commodities and Trade |
JAPAN SETS ASIDE YEN FUNDS TO PREVENT DLR FALL
| The 50-day provisional 1987/88 budget,
adopted today by the government, allows the Finance Ministry to
issue up to 14,600 billion yen worth of foreign exchange fund
financing bills, government sources said.
Foreign exchange dealers said the yen funds would be used
to buy dollars, to prevent a further do... | Financial Reports |
SUGAR MARKET SEES GOOD RECENT OFFTAKE
| Reports the Soviet Union has lately
extended its recent buying programme by taking five to eight
raws cargoes from the free market at around 30/40 points under
New York May futures highlight recent worldwide demand for
sugar for a variety of destinations, traders said.
The Soviet buying follows recent w... | Financial Reports |
BANK OF FRANCE BUYS DOLLARS AT PARIS FIXING - DEALERS
|
BANK OF FRANCE BUYS DOLLARS AT PARIS FIXING - DEALERS
| Financial Reports |
swiss national bank says bought dollars against yen
|
swiss national bank says bought dollars against yen
| Financial Reports |
UNION MINIERE TAKES STAKE IN PANCONTINENTAL
| <Union Miniere SA> said in a statement
that it has acquired an eight pct interest in Pancontinental
Mining Ltd <PANA.S> for a sum equivalent to 1.2 billion Belgian
francs.
Pancontinental operates gold and coal mines in Australia
and natural gas and oil fields in Canada.
Union Miniere said th... | Corporate News |
S. AFRICAN TRADE SURPLUS RISES SHARPLY IN FEBRUARY
| South Africa's trade surplus rose
to 1.62 billion rand in February after falling to 906.2 mln in
January, Customs and Excise figures show.
This compares with a year earlier surplus of 958.9 mln
rand.
Exports rose slightly to 3.36 billion rand in February from
3.31 billion in January but imports fe... | Financial Reports |
EC EXTENDS PARTS OF FREE FOOD FOR POOR SCHEME
| A scheme to distribute surplus food
free to the poor in the European Community (EC), which was due
to expire next Tuesday, will be partially extended for a
further month, an EC Commission spokesman said.
He added the executive Commission has not yet decided
whether the scheme should become a permanent f... | Financial Reports |
INDIA STEPS UP COUNTERTRADE DEALS TO CUT TRADE GAP
| India is searching for non-communist
countertrade partners to help it cut its trade deficit and
conserve foreign exchange.
Wheat, tobacco, tea, coffee, jute, engineering and
electronic goods, as well as minerals including iron ore, are
all on offer in return for crude oil, petroleum products,
chemical... | Corporate News |
JAPAN FEBRUARY CURRENT ACCOUNT, TRADE SURPLUS JUMP
| Japan's current account surplus rose to
7.38 billion dlrs in February from 3.89 billion a year ago and
from 4.95 billion in January, the Finance Ministry said.
The trade surplus rose to 8.14 billion dlrs in February
from 4.77 billion a year earlier and 5.70 billion in January.
The long-term capital ... | Other |
JAPAN CONSUMER PRICES UNCHANGED IN FEBRUARY
| Japan's consumer price index (base 1985)
was unchanged at 99.7 in February from a month earlier, the
government's Management and Coodination Agency said.
The index showed a 0.4 pct drop in January.
The February index was down one pct from a year earlier for
the third consecutive year-on-year drop.
... | Commodities and Trade |
COSTCO WHOLESALE CORP <COST> 2ND QTR FEB 16 NET
| Oper shr five cts vs six cts
Oper net 1,100,000 vs 1,463,000
Revs 177.8 mln vs 331.5 mln
Avg shrs 21.9 mn vs 25.7 mln
First half
Oper shr six cts vs five cts
Oper net 1,121,000 vs 1.090,000
Revs 315.3 mln vs 567.4 mln
Avg shrs 20.6 mln vs 25.6 mln
NOTE: Operating ... | Corporate News |
SWISS NATIONAL BANK SAYS IT BOUGHT DOLLARS
| The Swiss National Bank bought dollars
against yen today, a spokesman for the bank said.
He declined to say how many dollars the bank bought or when
precisely it intervened.
Swiss foreign exchange dealers described the National
Bank's purchases as modest, perhaps amounting to no more than
20 or 30... | Financial Reports |
U.S. FEBRUARY CONSUMER PRICES ROSE 0.4 PCT AFTER 0.7 PCT RISE IN JANUARY
|
U.S. FEBRUARY CONSUMER PRICES ROSE 0.4 PCT AFTER 0.7 PCT RISE IN JANUARY
| Financial Reports |
U.S. CONSUMER PRICES ROSE 0.4 PCT IN FEBRUARY
| U.S. consumer prices, as measured by
the Consumer Price Index for all urban consumers (CPI-U), rose
a seasonally adjusted 0.4 pct in February after a 0.7 pct
January gain, the Labor Department said.
The CPI for urban wage earners and clerical workers (CPI-W)
rose to 329.0 in February, the department sai... | Financial Reports |
MACMILLAN BLOEDEL <MMB> STOCK SPLIT APPROVED
| MacMillan Bloedel
Ltd said shareholders authorized a previously announced
three-for-one stock split, applicable to holders of record
April nine.
The company said its stock will begin trading on a split
basis on April 3, subject to regulatory approvals.
| Corporate News |
STORMY WEATHER TO DISRUPT NORTH SEA SHIPPING
| Very stormy weather is
likely in the North Sea through Saturday, disrupting shipping
in the region, private forecaster Accu-Weather Inc said.
Rain will accompany the strong winds that are expected over
the North Sea today into tonight. Saturday will also be very
windy and cooler with frequent showers.
... | Commodities and Trade |
COMMUNITY BANK <CBSI> TO MAKE ACQUISITION
| Community Bank System Inc said it
has entered into a definitive agreement to acquire Nichols
Community Bank for 2,800,000 dlrs in common stock.
It said subject to approval by Nichols shareholders and
regulatory authorities, the transaction is expected to be
completed later this year.
| Financial Reports |
NATIOONAL MEDICAL ENTERPRISES INC 3RD QTR OPER SHR 46 CTS VS 51 CTS
|
NATIOONAL MEDICAL ENTERPRISES INC 3RD QTR OPER SHR 46 CTS VS 51 CTS
| Corporate News |
LIBERIAN SHIP GROUNDED IN SUEZ CANAL REFLOATED
| A Liberian motor bulk carrier, the
72,203 dw tonnes Nikitas Roussos, which was grounded in the
Suez canal yesterday, has been refloated and is now proceeding
through the the canal, Lloyds Shipping Intelligence said.
| Financial Reports |
NATIONAL MEDICAL ENTERPRISES INC <NME> 3RD QTR
| Periods ended Feb 28
Oper shr 46 cts vs 51 cts
Oper shr diluted 43 cts vs 50 cts
Oper net 34.2 mln vs 39.8 mln
Revs 823.3 mln vs 794.3 mln
Avg shrs 74.9 mln vs 78.7 mln
Nine mths
Oper shr 1.29 dlrs vs 1.46 dlrs
Oper shr diluted 1.20 dlrs vs 1.43 dlrs
Oper net 99.4... | Financial Reports |
ABIDJAN PORT ACTIVITY RISES
| The tonnage of goods passing through
Ivory Coast's main port of Abidjan rose 2.3 pct last year,
according to the Ivorian Chamber of Commerce.
Its monthly report said 9.47 mln tonnes of goods passed
through the port last year compared with 9.26 mln the year
before. Exports fell to 3.75 mln from 3.89 mln ... | Corporate News |
PAPANDREOU SAYS GREEKS READY FOR AGGRESSORS
| Greek Prime Minister Andreas Papandreou
said today that the Greek armed froces were ready to tackle any
aggressors following the sailing of a Turkish research vessel
and warships towards disputed waters in the Aegean Sea.
Papandreou told an emergency cabinet meeting in Athens "the
military readiness of ... | Corporate News |
Top discount rate at U.K. Bill tender rises to 9.3456 pct
|
Top discount rate at U.K. Bill tender rises to 9.3456 pct
| Corporate News |
PORSCHE EXPECTS IMPROVEMENT IN U.S. SALES
| Sports carmaker Dr. Ing. H.C.F.
Porsche AG <PSHG.F> said it expects to post a satisfactory
profit in 1986/87, with domestic volume sales seen lower but
U.S. Sales anticipated higher.
Managing board chairman Peter Schutz said domestic sales
were expected to fall to 9,000 in the year ending July 31 fro... | Other |
DIXONS GROUP PLC BUYS 2,455,000 CYCLOPS SHARES, NOW OWNS 83 PCT
|
DIXONS GROUP PLC BUYS 2,455,000 CYCLOPS SHARES, NOW OWNS 83 PCT
| Other |
WORLD MARKET PRICE FOR UPLAND COTTON - USDA
| The U.S. Agriculture Department
announced the prevailing world market price, adjusted to U.S.
quality and location, for Strict Low Middling, 1-1/16 inch
upland cotton at 52.69 cts per lb, to be in effect through
midnight March 5.
The adjusted world price is at average U.S. producing
locations (near Lu... | Corporate News |
BELGIAN UNEMPLOYMENT FALLS IN FEBRUARY
| Belgian unemployment, based on the
number of jobless drawing unemployment benefit, fell to 12.1
pct of the working population at the end of February from 12.6
pct at the end of January, the National Statistics Office said.
The rate compares with 12.4 pct at the end of February
1986.
The total numb... | Commodities and Trade |
TEKTRONIX INC 3RD QTR SHR 48 CTWS VS 39 CTS
|
TEKTRONIX INC 3RD QTR SHR 48 CTWS VS 39 CTS
| Financial Reports |
AMERICAN MEDICAL INTERNATIONAL INC <AMI> PAYOUT
| Qtly div 18 cts vs 18 cts in prior qtr
Payable May one
Record April 15
| Other |
COCOA BUFFER STOCK COMPROMISE GAINING ACCEPTANCE
| A final compromise proposal on cocoa
buffer stock rules presented by International Cocoa
Organization, ICCO, council chairman Denis Bra Kanon is swiftly
gaining acceptance by consumer and producer members, delegates
said.
"We are close, nearer than ever to accepting it, but we
still have some work to ... | Financial Reports |
DIXONS BOOSTS CYCLOPS <CYL> OWNERSHIP TO 83 PCT
| <Dixons Group Plc> said it bought
about 2,445,000 Cyclops Corp common shares, boosting its
holdings of the company's stock to about 83 pct of those now
outstanding and 79 pct on a fully diluted basis.
Dixons said the stock was purchased in a single block
transaction at 95 dlrs per share.
The co... | Financial Reports |
INDIA STEPS UP COUNTERTRADE DEALS
| India is searching for non-communist
countertrade partners to help it cut its trade deficit and
conserve foreign exchange.
Wheat, tobacco, tea, coffee, jute, engineering and
electronic goods, as well as minerals including iron ore, are
all on offer in return for crude oil, petroleum products,
chemical... | Commodities and Trade |
TEKTRONIX INC <TEK> 3RD QTR NET
| Qtr ends March 7
Shr 48 cts vs 39 cts
Net 18.7 mln vs 15.6 mln
Revs 415.4 mln vs 384.5 mln
Nine mths
Shr 1.31 dlrs vs 78 cts
Net 50.7 mln vs 31.8 mln
Revs 1.04 billion vs 1.01 billion
NOTE: per share for yr and qtr prior restated to reflect
two-for-one stock split in ... | Financial Reports |
WESTINGHOUSE SAYS IT EXPECTS AT LEAST 10 PCT EARNINGS/SHR GROWTH THROUGH 89
|
WESTINGHOUSE SAYS IT EXPECTS AT LEAST 10 PCT EARNINGS/SHR GROWTH THROUGH 89
| Financial Reports |
METROPOLITAN FINANCIAL<MPC> TO ACQUIRE COMPANY
| Metropolitan Financial Corp said it
signed an agreement to acquire the stock of closely held
Rothschild Financial Corp, St. Paul, Minn.
Details of the purchase were withheld.
It said Rothschild in 1986 originated 500 mln dlrs of
mortgage loans, and its loan servicing portfolio stands at 1.4
billio... | Financial Reports |
U.K. MONEY MARKET GIVEN FURTHER 663 MLN STG HELP
| The Bank of England said it gave the
money market a further 663 mln stg assistance in the afternoon
session. This takes the Bank's total assistance so far today to
928 mln stg and compares with its forecast shortage which it
earlier revised up to 850 mln stg from 750 mln.
The central bank purchased bill... | Corporate News |
AUSTRIA DOES NOT INTERVENE TO SUPPORT DOLLAR
| The Austrian National Bank did not
intervene on the foreign exchange markets today to support the
dollar, deputy banking department chief Herbert Danzinger told
Reuters.
He denied a suggestion by a dealer at one Vienna bank that
the National Bank had sold marks to support the U.S. Currency.
Senior... | Financial Reports |
HANSON TRUST <HAN> U.S. ARM SELLS CHEMICAL UNIT
| Hanson Trust Plc <HAN> said its U.S.
subsidiary, Hanson Industries, sold PCR Inc, a specialty
chemicals unit, for 6.25 mln dlrs in cash to <Chemical Partners
Inc>.
Hanson Industries said it acquired PCR Inc in 1986 as part
of its purchase of <SCM Corp>.
PCR Inc posted an operating loss in... | Financial Reports |
ELDERS EXTENDS OFFER FOR CARLING O'KEEFE <CKB>
| <Elders IXL Ltd>, of Australia, said
wholly owned IXL Holdings Canada Inc extended its previously
announced offer to acquire all outstanding shares of Carling
O'Keefe Ltd to midnight April 23, 1987, from March 25.
The 18-dlr-a-share offer is being extended for Elders to
obtain Canadian federal govern... | Corporate News |
STANDARD BRED PACERS <STBD> YR LOSS
| Shr loss 35 cts vs loss seven cts
Net loss 718,269 vs loss 145,216
Revs 1,394,080 vs 2,608,083
NOTE: full name of company is standard bred pacers and
trotters Inc.
| Corporate News |
MULTIVEST <MVST> ENDS MERGER TALKS,SETS PURCHASE
| Multivest Corp said it has ended talks
on <Oryx Capital Corp>'s possible acqusition of Multivest and
is starting an offer of 1.51 dlrs a share for all the
oustanding shares of <T.B.C. Industries Inc>.
Multivest said its T.B.C. tender offer is scheduled to
expire April 30.
| Corporate News |
MOBILE COMMUNICATIONS CORP <MCCAA> YR NET
| Shr 77 cts vs 37 cts
Net 13.5 mln vs 4.8 mln
Revs 70.8 mln vs 60.8 mln
Avg shrs 17.5 mln vs 12.9 mln
NOTE: 1986 net includes gain of 18 mln dlrs from sale in
Dec 1986 of a 50 pct interest in its cellular telephone
operations to BellSouth Corp.
Net income also reflects non-recurring c... | Financial Reports |
TOKHEIM CORP <TOK> 1ST QTR FEB 28 NET
| Shr 23 cts vs 12 cts
Net 1,535,000 vs 783,000
Rev 40.0 mln vs 28.7 mln
| Financial Reports |
SPARTECH<SPTN> SETS REVERSE SPLIT,DEBENTURE SALE
| Spartech Corp said it plans a one for
five reverse stock split and has filed a registration statement
with the Securities and Exchange Commission covering a planned
25 mln dlr offering of convertible subordinated debentures due
1999.
Spartech said the debenture offering will be underwritten
by Kidder ... | Financial Reports |
RESTAURANT ASSOCIATES <RA.A> SETS 1ST QTR GAIN
| Restaurant Associates Industries Inc
said it expects to record a pretax gain of 3.3 mln dlrs in the
first quarter from the sale and lease of real estate.
The company said it received a 2.5 mln dlrs partial payment
in connection with the sale of property in Manhattan and an
additional one mln dlrs for ea... | Other |
HUDSON'S BAY TO SELL WHOLESALE UNIT
| <Hudson's Bay Co> said it signed a
letter of intent to sell its Hudson's Bay Wholesale unit to a
private investment group. Terms were not disclosed.
The company said Normal Paul, a member of the private
investment group, will head Hudson's Bay Wholesale management.
The unit's existing management ... | Commodities and Trade |
HENLEY GROUP INC <HENG> 4TH QTR LOSS
| Shr loss 3.41 dlrs
Net loss 354 mln vs loss 53 mln
Revs 825 mln vs 830 mln
Avg shrs 103.8 mln
Year
Shr loss 5.33 dlrs
Net loss 426 mlnm vs loss 66 mln
Revs 3.17 billion vs 1.83 billion
Avg shrs 80 mln
NOTE: The company had no shares outstanding in 1985. On
March... | Commodities and Trade |
BAYBANKS INC <BBNK> RAISES QTLY DIVIDEND
| Qtly div 36 cts vs 33 cts prior
Pay May one
Record April 14
| Financial Reports |
PHARMACIA AB <PHAB ST> 1986 YEAR
| Sales 3.65 billion crowns vs 3.40
billion.
Profit after financial items 821.2 mln crowns vs 740.2
mln.
The 1986 results include a once-off writedown of 520 mln
crowns for intangible assets, mainly the know-how paid for in
the takeover of a number of high-tech companies by the group,
Pharmacia ... | Financial Reports |
TOKHEIM <TOK> SEES IMPROVING SALES IN 1987
| Tokheim Corp, manufacturer of
electronic petroleum marketing systems, said it expects
shipments of Tokheim Convenience Systems (TCS), its new family
of dispensers, to improve its sales trend throughout 1987.
Tokheim said shipments of TCS will begin in the second
quarter.
Earlier, the company repor... | Corporate News |
SAFETY-KLEEN <SK> TO BUY MCKESSON <MCK> UNIT
| Safety-Kleen Corp said it agreed in
principle to acquire McKesson Envirosystems Co, a subsidiary of
McKesson Corp.
It said McKesson Envirosystems' current annual gross
revenues are about 14 mln dlrs.
The company collects flammable solvents from its industrial
customers for a fee, after which it an... | Corporate News |
CCC ACCEPTS BIDS ON BONUS WHEAT TO ALGERIA-USDA
| The Commodity Credit Corporation,
CCC, has accepted bids for export bonuses on 36,000 tonnes of
durum wheat to Algeria, the U.S. Agriculture Department said.
The department said the bonuses awarded averaged 40.42 dlrs
per tonne and will be paid to exporters in the form of
commodities from CCC inventorie... | Corporate News |
WESTINGHOUSE <WX> SEES HIGHER EARNINGS GROWTH
| Westinghouse Electric Corp said
earnings per share growth will exceed sales growth and will be
in the double digit range through 1989.
In 1986, the company earned 4.42 dlrs a share on revenues
of 10.7 billion dlrs.
Speaking at a meeting for securities analysts, Douglas
Danforth, Westinghouse's cha... | Commodities and Trade |
CLEARWATER FINE FOODS ACQUIRES CHANNEL FOODS
| Clearwater Fine Foods Inc, a Canadian
company minority owned by Hillsdown Holdings PLC of London, has
acquired Channel Foods Ltd, a Cornwall, England producer of
chilled smoke fish and pate products, Hillsdown said.
Privately held Clearwater was sold for three mln stg, the
company said.
| Commodities and Trade |
GALACTIC RESOURCES LTD <GALCF> YEAR LOSS
| Shr loss 1.30 dlrs
Net loss 25.6 mln
Revs 20.5 mln
Note: Prior results not given.
Shr and net include change in accounting policy, resulting
in loss of 22.8 mln dlrs or 1.16 dlrs share.
Results in U.S. funds
| Corporate News |
COCOA CONSUMERS ACCEPT COMPROMISE BUFFER PLAN
| Consumer members of the International
Cocoa Organization, ICCO, accepted a final buffer stock rules
compromise, "on the condition that producers also agree,"
consumer spokesman Peter Baron said.
The full council was meeting at 1530 GMT to discuss the
compromise, which was put together yesterday by ICCO ... | Corporate News |
NATO HOLDS EMERGENCY MEETING ON AEGEAN CRISIS
| NATO ambassadors met in emergency
session today to discuss tension between members Greece and
Turkey over a disputed area of the Aegean Sea on the Western
Alliance's southern flank, Greek diplomatic sources said.
They said no information had yet emerged from the meeting,
called after statements from bot... | Financial Reports |
HANSON TRUST TO SELL U.S. CHEMICALS UNIT
| Hanson Trust Plc <HNSN.L> said its U.S.
Subsidiary, Hanson Industries Inc, is to sell PCR Inc, a
speciality chemicals unit, for 6.25 mln dlrs cash to <Chemical
Partners Inc>.
PCR had sales of 13.2 mln dlrs in fiscal 1986 and an
operating loss of 381,000 dlrs.
| Financial Reports |
INVESTOR PAUL BILZERIAN HAS 7.2 PCT PAY 'N PAK STAKE, MAY SEEK CONTROL
|
INVESTOR PAUL BILZERIAN HAS 7.2 PCT PAY 'N PAK STAKE, MAY SEEK CONTROL
| Financial Reports |
UK MAY REVOKE JAPANESE FINANCIAL LICENSES
| The British government may revoke the
licences of selected Japanese banks and securities companies
operating in London's financial City when they come up for
renewal next summer if progress is not made towards opening up
Japan's markets to foreign competition, government sources
said.
"We can't say "y... | Commodities and Trade |
LSB INDUSTRIES <LSB> AGREES TO ACQUIRE BANK
| LSB Industries Inc said it agreed
to acquire Northwest Federal Savings and Loan Association for
1,500,000 dlrs.
As part of the agreement, LSB said it also would transfer
assets valued of not less than 30 mln dlrs to Northwest
Federal, which is located in Woodward, Okla.
| Financial Reports |
UNIVERSAL HOLDING CORP <UHCO> 4TH QTR NET
| Shr NA
Net profit 2,000 vs profit 195,000
Revs 2,623,000 vs 2,577,000
Year
Shr NA
Net loss 425,000 vs profit 278,000
Revs 15.4 mln vs 8,637,000
| Financial Reports |
BILZERIAN MAY SEEK CONTROL OF PAY 'N PAK <PNP>
| Investor Paul Bilzerian disclosed he
holds a 7.2 pct stake in Pay 'N Pak Stores Inc common stock and
is considering seeking control of the retail building material
firm.
Bilzerian said he and a Tampa, Fla., investment firm he
controls called Bicoastal Financial Corp "may acquire additional
shares, or ... | Financial Reports |
FED EXPECTED TO ADD RESERVES, ECONOMISTS SAY
| The Federal Reserve is expected to
enter the U.S. government securities market to add reserves
today, economists said.
They said the Fed would probably supply temporary reserves
indirectly by arranging one to two billion dlrs of customer
repurchase agreements.
After averaging 6.21 pct yesterday, f... | Commodities and Trade |
ALLEGHENY INT'L <AG> SELLS THREE OVERSEAS UNITS
| Allegheny International Inc
said it sold three overseas subsidiaries to Reil Corp Ltd, a
North Sydney, Australia, investment group.
Terms were not disclosed.
The units sold were Sunbeam Corp Ltd Australia, Sunbeam New
Zealand Ltd and Victa (U.K.) Ltd. The units make and distribute
various products... | Financial Reports |
PHARMACIA FORECASTS HIGHER 1987 EARNINGS
| Pharmacia AB <PHAB ST> forecast
earnings after financial items of one billion crowns in 1987 vs
821.2 mln last year on condition that exchange rates remained
at their present parities.
Sales would in such circumstances go up to six billion
crowns from 3.65 billion in 1986, it said.
A weakening ... | Industrial and Sector News |
GALACTIC <GALCF> ADOPTS CONSERVATIVE ACCOUNTING
| Galactic Resources
Ltd, earlier reporting a 1986 loss of 25.6 mln U.S. dlrs, said
it adopted a more conservative accounting policy, similar to
other gold producers' accounting for exploration costs.
As a result, the company retroactively charged all past
exploration and related administration costs incu... | Corporate News |
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