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EC AGREES ON NEED TO STRENGTHEN EMS
| European Community (EC)
finance ministers and central bankers agreed on the need for
greater cooperation to strengthen the European Monetary System
(EMS) against international market turbulence, officials said.
"There was a general will to reinforce the European Monetary
System, with all that implies," ... | Corporate News |
ZAMBIAN CURRENCY FALLS AT FOREIGN EXCHANGE AUCTION
| The Zambian currency further depreciated
yesterday at the second auction since the introduction of a
two-tier foreign exchange system last month.
The (central) Bank of Zambia said the kwacha was pegged at
16.99 to the dollar, compared to last week"s rate of 15 to the
dollar.
The bank, which offere... | Financial Reports |
U.S. NAVY SAID INCREASING PRESENCE NEAR GULF
| Defence Secretary Caspar Weinberger has
ordered the U.S. Navy to increase its presence near the Gulf in
an effort to fulfil President Reagan's pledge to keep oil
flowing to Europe and Japan, The New York Times reported.
The newspaper quoted Pentagon officials as saying the Navy
would keep the aircraft c... | Financial Reports |
ALGERIAN, SPANISH FIRMS AGREE QUICKSILVER PRICE
| Algerian and Spanish producers which
together meet 40 pct of the Western market's needs in
quicksilver have agreed to apply a minimum selling price of 300
dlrs per unit, the Algerian news agency APS said.
The agreement was made during a meeting here last week
between Algeria's Entreprise Nationale des N... | Financial Reports |
CHINA'S FOREIGN EXCHANGE RESERVES FALL DURING 1986
| China's foreign exchange reserves
totalled 10.514 billion dlrs at end-1986, up from 10.37 billion
at end-September but down from 11.9 billion at end-1985,
according to central bank figures published by the New China
News Agency.
The agency said 2.072 billion dlrs of the reserves was held
by the state ... | Financial Reports |
IEA SEES ONE PCT GROWTH IN 1987 OECD OIL DEMAND
| Growth in oil consumption in the Western
industrialised countries is likely to slow to around one pct
this year compared with 2.3 pct in 1986, the International
Energy Agency (IEA) said.
Oil use in the 24 countries of the OECD increased by around
one pct in first quarter 1987 to 35.9 mln bpd, the IEA sa... | Corporate News |
MARCH U.S. PURCHASING MANAGERS INDEX UP AT 53.9
| The U.S. economy in March improved at a
faster rate than in February, with the National Association of
Purchasing Management's composite index rising to 53.9 pct from
51.9 pct, the NAPM said.
The first quarter average for the index also was 53.9 pct.
The NAPM said that, if this average were to continue ... | Financial Reports |
<MDS HEALTH GROUP LIMITED> IN QTLY PAYOUT
| Qtly div six cts vs six cts prior
Pay April one
Record March 23
| Financial Reports |
U.S. CREDIT MARKET OUTLOOK - CAUTIOUS TRADING
| U.S. Bond trading is likely to remain
cautious in the near term with a possible downward price bias
as market participants focus on trends in the dollar, the
economy and Federal Reserve policy, economists said.
Most expect the economy to continue showing modest gains,
that the dollar has more room to fa... | Financial Reports |
NATIONAL AUSTRALIA BANK LOWERS BENCHMARK PRIME
| National Australia Bank Ltd <NABA.S>
said it lowered its benchmark prime lending rate to 18.25 pct
from 18.5, effective today, but left its base rate at 18.5.
The benchmark reduction brings the rate into line with the
prime rates of most of Australia's trading banks, including
those of two of the oth... | Financial Reports |
CAESARS WORLD BOARD APPROVES RECAPITALIZATION
| Caesars World Inc <CAW> said its
directors unanimously approved a recapitalization plan under
which stockholders will get a cash distribution of 25 dlrs per
share via a one-time special cash dividend and will retain
their common stock ownership in Caesars World.
Caesars World said it expects to raise... | Corporate News |
AUSTRALIAN GAS LIGHT CO COUNTER-BIDS FOR TMOC
| <The Australian Gas Light Co> (AGL) said it
will offer one share plus one dlr cash for every two shares in
oil and gas producer <TMOC Resources Ltd> in a counter-bid to
the previously reported takeover offer by Santos Ltd <STOS.S>.
The offer values TMOC shares at 4.75 dlrs each, based on
AGL's ... | Financial Reports |
IEA FORECASTS SLOWER GROWTH IN OECD OIL DEMAND
| Growth in oil consumption in the Western
industrialized countries is likely to slow to around one pct
this year compared with 2.3 pct in 1986, the International
Energy Agency said.
Oil use in the 24 member countries of the Organization for
Economic Cooperation and Development (OECD) increased by around
... | Market and Economy |
PHILIPPINE COFFEE EXPORTS SEEN FALLING SHARPLY
| Philippine coffee exports are expected
to fall sharply due to a combination of the International
Coffee Organisation's (ICO) decision not to revive export
quotas and higher local prices, ICO Certifying Agency official
Dante de Guzman told Reuters.
He said exporter registrations dropped from an average
... | Corporate News |
HARPER INTERNATIONAL INC <HNT> 3RD QTR NET
| Qtr ended Jan 31
Shr 12 cts vs 19 cts
Net 369,000 vs 358,000
Revs 7,076,000 vs 6,712,000
Avg shrs 3,050,000 vs 1,850,000
Nine mths
Shr 53 cts vs 63 cts
Net 1,523,000 vs 1,158,000
Revs 22.6 mln vs 20.7 mln
Avg shrs 2,852,198 vs 1,850,000
| Financial Reports |
MIYAZAWA SEES BIG NATIONS REAFFIRMING PARIS PACT
| Finance Minister Kiichi Miyazawa told a
parliamentary committee he expects major nations to reafffirm
the currency pact they struck in Paris when they meet this week
in Washington, political sources said.
The Minister also was quoted as saying he expects major
nations to take coordinated action to ensur... | Financial Reports |
LEADING COCOA PRODUCERS DISCUSS INTERNATIONAL PACT
| Leading cocoa producers will discuss
whether newly-agreed rules on an international cocoa buffer
stock will succeed in reversing a sharp fall in world prices
when they start four day's of talks here later today,
conference sources said.
Another topic likely to be discussed at the twice-yearly
meeting ... | Financial Reports |
5-APR-1987 23:45:47.90
| 5-APR-1987 23:45:47.90
| Commodities and Trade |
SOUTH KOREA'S 1987 GNP SEEN GROWING NINE PCT
| South Korea's gross national product (gnp)
is forecast to grow by nine pct in 1987, surpassing the
government's original forecast of eight pct and against a 12.5
pct rise in 1986, an Economic Planning Board report said.
The report reviewing the country's economy in the first
three months of this year sa... | Financial Reports |
BURST AGRITECH INC <BRZT> YEAR NOV 30 LOSS
| Net loss 705,496 vs loss 182,766
Sales 642,590 vs 1,126,315
| Commodities and Trade |
THAI RICE EXPORTS FALL IN WEEK TO MARCH 31
| Thailand exported 75,160 tonnes of rice
in the week ended March 31, down from 88,785 tonnes the
previous week, the Commerce Ministry said.
It said the government and private exporters shipped 36,552
and 38,608 tonnes respectively.
Private exporters concluded advance weekly sales for 22,086
tonnes ... | Corporate News |
26-FEB-1987
| 26-FEB-1987
| Other |
API SAYS DISTILLATE STOCKS OFF 4.4 MLN BBLS, GASOLINE OFF 30,000, CRUDE UP 700,000
|
API SAYS DISTILLATE STOCKS OFF 4.4 MLN BBLS, GASOLINE OFF 30,000, CRUDE UP 700,000
| Corporate News |
CHINESE CROPS HIT BY FROST, SNOW AND RAIN IN MARCH
| Wheat and rapeseed crops in east China
suffered considerable damage because of frost during a spell of
unusually cold weather in late March, the China Daily said.
It said average temperatures for the last 10 days of March
in most of east China were three to five degrees centigrade
below average. Snow fe... | Financial Reports |
JAPAN CENTRAL BANK INTERVENES IN TOKYO AFTERNOON
| The Bank of Japan intervened in early
afternoon Tokyo trading to support the dollar against active
selling by institutional investors and speculative selling by
overseas operators, dealers said.
The central bank had also bought dollars against the yen in
morning trade.
The dollar traded around 145... | Other |
CHASE-AMP BANK TO LOWER AUSTRALIAN PRIME RATE TO 17.75 PCT FROM 18.25 TOMORROW
|
CHASE-AMP BANK TO LOWER AUSTRALIAN PRIME RATE TO 17.75 PCT FROM 18.25 TOMORROW
| Other |
ALCAN TO CLOSE WEST GERMAN SMELTER
| Alcan Aluminium Ltd is closing its
aluminum smelter in Ludwigshafen, West Germany this June due to
high operating costs, an Alcan spokesman said.
The smelter, near Frankfurt, had annual capacity of about
44,000 tonnes but was operating at about half that in January,
spokesman Fernand Leclerc said.
... | Financial Reports |
KUWAIT MAY RE-REGISTER GULF TANKERS - NEWSPAPER
| Kuwait may re-register part of its
tanker fleet with foreign flag jurisdictions, including the
U.S. And USSR, in an attempt to protect them from Iranian
missile attacks in the Gulf war zone, U.S. Officials were
quoted by the New York Times as saying.
The transfers would allow the country of registration... | Other |
CHASE-AMP BANK CUTS AUSTRALIAN PRIME TO 17.75 PCT
| <Chase-AMP Bank Ltd> said it will lower
its prime lending rate to 17.75 pct from 18.25, effective
tomorrow.
The bank is the first to lower its prime rate below the 18
pct set by a few banks in the last few days in a continuation
of a downward trend which began late last month.
Other prime rates... | Corporate News |
SWISS CONSUMER PRICES RISE ONE PCT IN MARCH
| Swiss consumer prices rose one pct in the
year to March, the same rise as in the year to February, and
against 0.9 pct in the year to March 1986, the Federal
Statistics Office said.
In March alone, prices rose 0.1 pct after a 0.3 pct rise in
February.
The March index, base 1982, was 109.7 against ... | Financial Reports |
Nixdorf world group 1986 net profit 222.42 mln marks vs 172.29 mln, div 10 marks
|
Nixdorf world group 1986 net profit 222.42 mln marks vs 172.29 mln, div 10 marks
| Financial Reports |
PANCANADIAN TO SELL BRITISH INTERESTS
| <PanCanadian Petroleum Ltd>
said it agreed to sell its working interest in its North Sea
properties and its British unit, Canadian Pacific Oil and Gas
of Canada Ltd, to Whitehall Petroleum Ltd, a private British
company.
PanCanadian, 87 pct-owned by Canadian Pacific Ltd <CP>,
said it would recei... | Corporate News |
JAPAN'S LIPC TO BUY BEEF ON APRIL 23
| Japan's Livestock Industry Promotion Corp
(LIPC) said that on April 28 it will import 7,515 tonnes of
beef for the first half of the 1987 fiscal year started on
April 1 under the simultaneous buy and sell tender system,
against 6,813 a year ago.
The system calls on the agency to buy beef from trading
... | Commodities and Trade |
JAPAN'S LIPC TO BUY BEEF ON APRIL 23
| Japan's Livestock Industry Promotion Corp
(LIPC) said that on April 28 it will import 7,515 tonnes of
beef for the first half of the 1987 fiscal year started on
April 1 under the simultaneous buy and sell tender system,
against 6,813 a year ago.
The system calls on the agency to buy beef from trading
... | Financial Reports |
TELXON <TXLN> SEES SLIGHTLY HIGHER 4TH QTR NET
| Telxon Corp said it expects
per-share earnings for its fourth quarter ending March 31 to be
about 23 cts to 26 cts on revenues of 26 mln dlrs to 28 mln
dlrs.
For the year-ago quarter, the company earned 22 cts a
share, adjusted for a three-for-two stock split, on revenues of
24.2 mln dlrs.
The c... | Financial Reports |
TESCO EXTENDS HILLARDS OFFER
| Tesco Plc <TSCO.L> said it was extending
its 151 mln stg contested bid for <Hillards Plc> until May 1.
It said it now controlled 9.8 pct of Hillards shares,
comprising acceptances of the offer for 1.5 mln, or 3.1 pct,
and 3.2 mln, or 6.7 pct, owned by itself, its pension fund or
its associates.
... | Corporate News |
Bundesbank sets 28-day securities repurchase tender at fixed 3.80 pct
|
Bundesbank sets 28-day securities repurchase tender at fixed 3.80 pct
| Financial Reports |
GULF APPLIED TECHNOLOGIES <GATS> SELLS UNITS
| Gulf Applied Technologies Inc said it
sold its subsidiaries engaged in pipeline and terminal
operations for 12.2 mln dlrs.
The company said the sale is subject to certain post
closing adjustments, which it did not explain.
| Financial Reports |
REID-ASHMAN <REAS> TO DIVEST TEST PRODUCT UNIT
| Reid-Ashman Inc said it has
decided to divest its test products division, located in Santa
Clara.
The company said it will entertain offers through March 30.
It also said Steven Reid, a company founder and president of
the test division, has made an offer to purchase the unit.
The company's test d... | Corporate News |
BUNDESBANK SETS NEW REPURCHASE TENDER
| The Bundesbank set a new tender for a
28-day securities repurchase agreement, offering banks
liquidity aid at a fixed bid rate of 3.80 pct, a central bank
spokesman said.
Banks must make their bids by 1400 GMT today. Funds will be
allocated by 0900 GMT tomorrow and credited to accounts later
in the da... | Corporate News |
PACIFIC LIGHTING COPR <PLT> QUARTERLY DIVIDEND
| Qtly div 87 cts vs 87 cts
Pay Feb 17
Record Jan 20
| Other |
CETEC CORP <CEC> QUARTERLY DIVIDEND
| Qtly div five cts vs five cts
Pay May 22
Record May 8
| Financial Reports |
API SAYS DISTILLATE, GAS STOCKS OFF IN WEEK
| Distillate fuel stocks held in
primary storage fell by 4.4 mln barrels in the week ended Feb
27 to 127.10 mln barrels from 131.50 mln the previous week, the
American Petroleum Institute (API) said.
In its weekly statistical bulletin, the oil industry trade
group said gasoline stocks fell 30,000 barrels ... | Financial Reports |
MOET-HENNESSY PROPOSES HIGHER DIVIDEND
| YEAR TO END-DEC 1986
Proposed dividend 45 francs vs 34.50 francs
Note - Full name of company is Moet-Hennessy SA <MHSP.PA>
| Financial Reports |
JONES MEDICAL INDUSTRIES INC <JMED> 4TH QTR NET
| Shr six cts vs five cts
Net 199,037 vs 135,587
Sales 1,594,895 vs 1,368,959
Avg shrs 3.1 mln vs 2.5 mln
Year
Shr 25 cts vs 19 cts
Net 695,398 vs 446,426
Sales 5,785,365 vs 4,520,781
Avg shrs 2.8 mln vs 2.4 mln
| Financial Reports |
MAUI LAND AND PINAPPLE CO INC QUARTERLY DIVIDEND
| Qtly div 12-1/2 cts vs 12-1/2 cts
Pay March 31
Record Feb 27
| Other |
SOVIET GRAIN PRODUCTS MINISTRY CRITICISED
| The Soviet Communist Party has criticised
the country's Grain Products Ministry for failing to ensure
proper grain storage, turning out poor quality bread and for
unsatisfactory book keeping, Pravda said.
The party daily said that losses in the industry owing to
waste and theft amounted to 7.3 mln roubl... | Corporate News |
COCOA BUFFER STOCK MAY FACE UPHILL BATTLE - TRADE
| The International Cocoa Organization
(ICCO) buffer stock could face an uphill battle to halt the
downtrend in world cocoa prices when it begins buying
operations in the next few weeks, cocoa traders said.
Traders said they believed buffer stock purchases could
reach 75,000 tonnes in a matter of weeks wi... | Financial Reports |
German February capital account deficit 7.53 billion marks vs Jan 11.91 billion surplus - Bundesbank
|
German February capital account deficit 7.53 billion marks vs Jan 11.91 billion surplus - Bundesbank
| Financial Reports |
U.S. WINE EXPORTS ROSE 15 PER CENT LAST YEAR
| Exports of American wine rose 14.9
per cent last year to a total of 7.2 million gallons, the Wine
Institute said.
The San Francisco-based promotional group said 95 per cent
of the exported wine was from California and the top three
markets were Canada, Japan and Britain.
Japan, which edged out Bri... | Financial Reports |
GERMAN CAPITAL ACCOUNT IN DEFICIT IN FEBRUARY
| West Germany recorded a net outflow of
7.53 billion marks on the February capital account, combining
long and short term capital flows, compared with a net inflow
of 11.91 billion marks in January, the Bundesbank said.
This compared with a net outflow of 3.51 billion marks in
February 1986, the Bundesba... | Financial Reports |
TAIWAN TRADE SURPLUS WIDENS IN FIRST QUARTER
| Taiwan's trade surplus widened to 4.18
billion U.S. Dlrs in the first quarter of 1987 from 3.05
billion a year ago, the government statistics department said.
First quarter exports rose to 11.25 billion U.S. Dlrs from
8.38 billion in the same period in 1986. Imports rose to 7.08
billion from 5.33 billio... | Financial Reports |
INVESTMENT GROUP RAISES ROBESON <RBSN> STAKE
| A group of affiliated Miami-based
investment firms led by Fundamental Management Corp said it
raised its stake in Robeson Industries Corp to 238,000 shares,
or 14.6 pct of the total, from 205,000 or 12.8 pct.
In a filing with the Securities and Exchange Commission,
the group said it bought 32,800 Robeso... | Corporate News |
USDA TO REDUCE CITRUS ESTIMATING PROGRAM
| the U.S. Agriculture Department's
National Agricultural Statistics Services (NASS) said it will
change its citrus estimate program for California and Arizona,
starting in 1988.
NASS said it will discontinue California forecasts for
lemons during December, February, March, May and June and for
grapefru... | Financial Reports |
AGREEMENT REACHED IN GREEK ALUMINA DEAL WITH MOSCOW
| Greece and the Soviet Union have reached
agreement in Moscow on a joint venture for a 450 mln dlr
alumina plant in Greece, government spokesman Yannis Roubatis
said.
Roubatis told reporters the Soviet Union agreed to buy the
plant's entire annual output of 600,000 tonnes of alumina. More
details would... | Market and Economy |
<TRIMAC LTD> YEAR NET
| Shr nine cts vs six cts
Net 3,500,000 vs 2,500,000
Revs 294.0 mln vs 351.5 mln
Note: 1986 year includes tax gain of 1,700,000 dlrs
| Financial Reports |
NO INTERVENTION, DOLLAR FIXED AT 1.8218 MARKS
| The Bundesbank did not intervene as
the dollar was fixed lower at 1.8218 marks after 1.8243
yesterday, dealers said.
| Financial Reports |
BANK OF JAPAN INTERVENES SHORTLY AFTER TOKYO OPENS
| The Bank of Japan bought a small amount of
dollars at around 145.95 yen shortly after the Tokyo market
opened, dealers said.
But the dollar then fell on speculative selling by trading
houses, they said.
The dollar had opened here at 145.95 yen against 145.85/90
yen in New York and 146.00 yen at th... | Financial Reports |
BANK OF JAPAN TO SELL 800 BILLION YEN IN BILLS
| The Bank of Japan will sell tomorrow a
total of 800 billion yen worth of financing bills from its
holdings to help absorb a projected money market surplus of
1,300 billion yen, money traders said.
Of the total, 400 billion yen will yield 3.8502 pct on
sales from money houses to banks and securities hous... | Corporate News |
NO INTERVENTION, DOLLAR FIXED AT 1.8218 MARKS
| The Bundesbank did not intervene as
the dollar was fixed lower at 1.8218 marks after 1.8243
yesterday, dealers said.
Dealers said dollar trading was very quiet over the
European morning, with operators made wary by today's meeting
of the Group of Five finance ministers and central bank chiefs
ahead of... | Financial Reports |
WORMALD TO ACQUIRE STAKE IN HOLMES PROTECTION
| Fire protection and security group
Wormald International Ltd <WOIA.S> said British-listed <Holmes
Protection Group Inc> has agreed to issue it with 6.15 mln
common shares of one U.S. Cent par-value at 1.72 stg each.
The two groups have also begun exploratory talks on a
possible merger of the Holme... | Corporate News |
WEST GERMAN 1986 OIL MEALS, CAKES USE UP
| West German consumption of oilmeals and
oil cakes last year rose by 2.4 pct to 6.3 mln tonnes, the
agriculture ministry said.
It said in a statement the increase was exclusively due to
sharply higher use of rape products, which went up by 8.9 pct
to 1.08 mln tonnes.
Use of soy products dropped 7.2... | Financial Reports |
OPPENHEIMER UPS VIACOM <VIA> STAKE TO 7.7 PCT
| Oppenheimer and Co, a New York
brokerage firm, said it raised its stake in Viacom
International Inc to the equivalent of 2,709,600 shares, or 7.7
pct of the total, from 2,232,400 shares, or 6.3 pct.
In a filing with the Securities and Exchange Commission,
Oppenheimer said it bought a net 477,200 Viacom ... | Financial Reports |
KUWAIT MAY RE-REGISTER GULF TANKERS - NEWSPAPER
| Kuwait may re-register part of its
tanker fleet with foreign flag jurisdictions, including the
U.S. And USSR, in an attempt to protect them from Iranian
missile attacks in the Gulf war zone, U.S. Officials were
quoted by the New York Times as saying.
The transfers would allow the country of registration... | Financial Reports |
CHASE-AMP BANK CUTS AUSTRALIAN PRIME TO 17.75 PCT
| <Chase-AMP Bank Ltd> said it will lower
its prime lending rate to 17.75 pct from 18.25, effective
tomorrow.
The bank is the first to lower its prime rate below the 18
pct set by a few banks in the last few days in a continuation
of a downward trend which began late last month.
Other prime rates... | Financial Reports |
JAPAN CENTRAL BANK INTERVENES IN TOKYO AFTERNOON
| The Bank of Japan intervened in early
afternoon Tokyo trading to support the dollar against active
selling by institutional investors and speculative selling by
overseas operators, dealers said.
The central bank had also bought dollars against the yen in
morning trade.
The dollar traded around 145... | Financial Reports |
EMPI INC <EMPI> 4TH QTR LOSS
| Shr loss 25 cts vs profit 11 cts
Net loss 446,005 vs profit 185,325
Sales 2.4 mln vs 2.5 mln
12 mths
Shr loss 16 cts vs profit 41 cts
Net loss 282,305 vs profit 709,787
Sales 10.1 mln vs nine mln
| Financial Reports |
U.K. MONEY MARKET GIVEN 224 MLN STG ASSISTANCE
| The Bank of England said it had provided
the money market with 224 mln stg help in the morning session.
This compares with the Bank's forecast of a shortage in the
system today of around 850 mln stg which it earlier revised up
from 800 mln.
The central bank bought bank bills comprising 27 mln stg in
b... | Corporate News |
EC INDUSTRIAL PRODUCTION GROWTH HALTS IN JANUARY
| Industrial production in the European
Community (EC) in January showed no growth compared with
January 1986, the EC statistics office, Eurostat, said in a
report.
It said the EC industrial production index, base 1980,
stood at 103.9 in both months.
EC officials said while the lack of growth may ha... | Commodities and Trade |
U.S. SENATE PANEL COULD CONSIDER TRADE MEASURE
| The U.S. Senate Agriculture Committee
may take up a bill tomorrow that would strengthen the
activities of U.S. agricultural trade teams in selected
developing countries, committee staff said.
The measure, sponsored by committee Chairman Patrick Leahy
(D-Vt.) and Sen. John Melcher (D-Mont.), would establ... | Commodities and Trade |
FLORIDA PUBLIC <FPUT> SPLITS STOCK, UPS DIV
| Florida Public Utilities Co
said its board declared a three-for-two stock split on its
common stock.
It said holders of record April 15 will receive one
additional share May one for each two shares held.
The company also said it raised the dividend on its common
stock by two cts to 33 cts a share ... | Corporate News |
GAO LIKELY TO SHOW CERTS MORE COSTLY THAN CASH
| A study on grain certificates due out
shortly from the Government Accounting Office (GAO) could show
that certificates cost the government 10 to 15 pct more than
cash outlays, administration and industry sources said.
Analysis that the GAO has obtained from the Agriculture
Department and the Office of M... | Industrial and Sector News |
CITY INVESTING TRUST <CNVLZ> SETS CASH PAYOUT
| City Investing Co Liquidating Trust
said it declared a cash distribution of 25 cts a unit, payable
April 10 to unit-holders of record April one.
The trust last paid a stock distribution of General
Development Corp <GDB> shares in July.
| Corporate News |
FCOJ SUPPLIES SIGNIFICANTLY ABOVE YEAR AGO-USDA
| Total supply of frozen concentrated
orange juice (FCOJ) in 1986/87 is expected to be significantly
above year-earlier levels, even with carry-in stocks well below
the previous season, the U.S. Agriculture Department said.
In a summary of its Fruit Situation Report, the Department
said Florida's imports ... | Commodities and Trade |
OCCIDENTAL <OXY> IN BIG PERU HEAVY OIL FIND
| Occidental Petroleum Corp said the
Shiviyacu-23 development well on Block 1-AB in the Peruvian
Amazon jungle is producing 6,593 barrels of 22 degree gravity
oil per day from depths of 9,543 to 9,547 and 9,556 to 9,599
feet.
The company said it is drilling a new exploration well on
the block, Southeast... | Other |
LIEBERMAN ENTERPRISES INC 3RD QTR FEB 28 NET
| Shr 51 cts vs 46 cts
Shr diluted 44 cts vs 41 cts
Net 2,267,000 vs 2,055,000
Sales 87.3 mln vs 70.4 mln
Nine mths
Shr 1.20 dlrs vs 1.12 dlrs
Shr diluted 1.07 dlrs vs 1.03 dlrs
Net 5,318,000 vs 4,958,000
Sales 243.7 mln vs 198.7 mln
| Financial Reports |
FLORIDA COMMERCIAL BANKS INC <FLBK> DIVIDEND
| Qtly div 14 cts vs 19 cts prior
Pay March 31
Record March 16
Note: Quarterly dividend for prior quarter included special
payout of five cts a share.
| Financial Reports |
BP SCOTTISH REFINERY SET TO RESTART THIS WEEK
| The British Petroleum <BP.L> Co Plc's
refinery at Grangemouth, Scotland, shut down after an explosion
and fire in the hydrocracker on March 22, will probably be back
in operation towards the week-end, a refinery spokesman said.
He said the refinery will resume at about half its 178,500
barrels per da... | Financial Reports |
<TIMMINCO LTD> YEAR NET
| Oper shr 33 cts vs 33 cts
Oper net 3,330,000 vs 2,969,000
Revs 95.9 mln vs 92.0 mln
Avg shrs 8,610,068 vs 7,603,219
Note: 1986 net excludes extraordinary gain of 577,000 dlrs
or seven cts shr vs yr-ago gain of 71,000 dlrs or one ct shr.
| Financial Reports |
BRITAIN WARNS JAPAN OVER TRADE ROW
| British corporate affairs minister Michael
Howard told Japan to resolve the row over the U.K. Firm Cable
and Wireless Plc's <CAWL.L> shareholding in a new Japanese
telecommunications company or face an abrupt deterioration in
trade relations.
In meetings with both the foreign and telecommunications
... | Financial Reports |
CARDINAL INDUSTRIES <CDNI> RESTATES NET LOWER
| Cardinal Industries Inc said it
restated earnings for the first nine months of 1986 to 235,000
dlrs, or nine cts per share, from 485,000 dlrs, or 18 cts,
reported previously due to the failure of an automated
accounting system installed in mid-year and replaced in the
fourth quarter.
The company said ... | Corporate News |
<UNITED FIRE AND CASUALTY> 4TH QTR NET
| Shr profit 31 cts vs loss 20 cts
Net profit 1,044,424 vs loss 515,425
Avg shrs 3,406,841 vs 2,544,531
Year
Shr profit 2.83 dlrs vs profit 42 cts
Net profit 8,811,142 vs profit 1,058,503
Avg shrs 3,111,464 vs 2,544,531
Note: Full company name is United Fire and Casualty Co
... | Financial Reports |
EGYPTIAN CENTRAL BANK DOLLAR RATE UNCHANGED
| Egypt's Central Bak left the dollar rate
for Commercial banks for April 8 unchanged at 1.353/67 pounds.
| Corporate News |
<POWER CORP OF CANADA> 4TH QTR NET
| Oper shr 30 cts vs 24 cts
Oper net 38,686,000 vs 28,384,000
Revs 42.3 mln vs 31.2 mln
Year
Oper shr 1.05 dlrs vs 94 cts
Oper net 136,594,000 vs 110,831,000
Revs 153.3 mln vs 125.1 mln
Note: Fourth quarter results exclude extraordinary and
other items which raised final 1986... | Industrial and Sector News |
BRAZIL SEAMEN'S STRIKE ENDS
| A Brazilian seamen's strike, which
began on February 27 and has been tapering off for weeks, has
now ended, a seamen's spokesman said.
The spokesman said the seamen had signed an agreement with
the state-owned Lloyd Brasileiro company on Saturday for a 120
pct salary rise.
The national strike had ... | Financial Reports |
U.S. CORN, SORGHUM PAYMENTS 50-50 CASH/CERTS
| Eligible producers of 1986 crop U.S.
corn and sorghum will receive an estimated 600 mln dlrs in
deficiency payments -- 50 pct in generic commodity certificates
and 50 pct in cash, the U.S. Agriculture Department said.
It said corn producers will receive about 515 mln dlrs and
sorghum producers about 85 ... | Corporate News |
SOUTH AFRICAN GOLD HOLDINGS RISE IN MARCH
| South African gold holdings rose 172.56
mln rand to 4.17 billion rand in March after rising 39 mln rand
to 4.0 billion rand in February, Reserve Bank figures show.
In volume terms gold holdings rose to 5.51 mln ounces in
March from 5.26 mln ounces in February, valued at 757.24 rand
an ounce for March ve... | Other |
MAGMA RAISES COPPER PRICE 0.50 CT TO 66.00 CTS
| Magma Copper Co, a subsidiary of
Newmont Mining Corp, said it is raising its copper cathode
price by 0.50 cent to 66.00 cents a lb, effective immediately.
| Corporate News |
INTERCO INC 4TH QTR SHR 99 CTS VS 97 CTS
|
INTERCO INC 4TH QTR SHR 99 CTS VS 97 CTS
| Financial Reports |
KANEB ENERGY <KEP> SAYS JURY RULES FOR IT
| Kaneb Energy Partners Ltd, 82 pct owned
by Kaneb Services Inc <KAB>, said a juiry in Circuit Court of
Tuscaloosa County, Ala., has ruled in its favor and that of Jim
Walter Corp <JWC> against Sonat Inc <SNT> in a dispute over a
natural gas sales contract.
The company said the suit was filed see... | Financial Reports |
WHITTAKER <WKR> COMPLETES SALE OF MEDICAL UNIT
| Whittaker Corp said it has completed
the previously-announced sale of its wholly-oiwned Whittaker
General Medical Corp subsidiary to R.A.B. Holdings Inc for
undisclosed terms.
Whittaker General Medical has annual revenues of about 450
mln dlrs.
| Commodities and Trade |
STARTEL <STAS> TO HAVE LOSS, SALES DROP
| StarTel Corp said it expects to
report a first quartter loss on a 25 to 30 pct revenue fall
from the year-earlier 2,524,000 dlrs.
The company earned 64,000 dlrs in last year's first quarter.
| Financial Reports |
DATRON SYSTEMS <DTSI> SEES LOWER YEAR NET
| Datron Systems Inc said it
expects to report a falloff in earnings for the year ended
March 31 of about 25 pct from fiscal 1986 levels.
In fiscal 1986, Datron earned 1,776,000 dlrs.
The company said new orders for the year just ended,
however, rose 50 pct to 26 mln dlrs, bringing backlog at
year-e... | Commodities and Trade |
DATA GENERAL TO TAKE 18.2 MLN DLR PRETAX CHARGE TO REDEEM 150 MLN DLRS OF DEBT
|
DATA GENERAL TO TAKE 18.2 MLN DLR PRETAX CHARGE TO REDEEM 150 MLN DLRS OF DEBT
| Financial Reports |
ENTERRA CORP <EN> SELLS TWO UNITS
| Enterra Corp said it has completed the
sale of its Hale Fire Pump co and Macomson Machine Co
subsidiaries to a company formed by Los Angeles investment firm
McBain, Rose Partners for about 27 mln dlrs in cash.
Both Hale and Macomson make fire pumps and related
equipment.
| Financial Reports |
<FMD INC> IN MERGER AGREEMENT
| FMD Inc said it has agreed to acquire
Bankers Protective Financial Corp for 28,836,000 common shares,
subject to approval by the Texas State Board of Insurance.
Bankers Protective is a life insurance company based in
Texas.
| Financial Reports |
<BEDFORD COMPUTER CORP> YEAR NET
| Shr not given
Net profit 1,033,000 vs loss 4,346,000
Sales 6,060,000 vs 5,818,000
NOTE: Company operating in Chapter 11 bankruptcy.
1985 sales exclude contract revenues of 3,217,000 dlrs.
1986 net includes reversal of 597,000 dlrs of reserves no
longer deemed necessary and tax credit 3... | Other |
INTERCO INC <ISS> 4TH QTR FEB 28 NET
| Shr 99 cts vs 97 cts
Net 31,011,000 vs 30,899,000
Sales 651.5 mln vs 583.1 mln
Year
Shr 3.13 dlrs vs 2.92 dlrs
Net 98,643,000 vs 92,347,000
Sales 2.61 billion vs 2.51 billion
NOTE: 1986 results reflect two-for-one stock split of July
23, 1986
| Corporate News |
USDA PROPOSES NAME CHANGES IN BEEF GRADE
| The U.S. Agriculture Department
proposes to rename the "USDA Good" grade of beef to "USDA Select."
The department said the proposed change is in response to a
petition from Public Voice for Food and Health Policy and would
present a more positive image of this grade of beef and help
calorie-conscious co... | Financial Reports |
HOUSEHOLD INT'L <HI> PROJECTS EARNINGS RISE
| Household International
Inc said it expects its fully diluted earnings per share for
the first quarter to be about 35 pct above the same year-ago
period.
It also looks for 1987 full-year fully diluted earnings to
be about 20 pct higher than the record 4.31 dlrs a share
reported for 1986.
Chairma... | Financial Reports |
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