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U.K. INTERVENTION WHEAT SOLD TO HOME MARKET
| A total of 14,685 tonnes of British
intervention feed wheat were sold at today's tender for the
home market, the Home Grown Cereals Authority said.
Bids amounted to 19,115 tonnes against offerings of 31,528.
Prices paid were at, or above, the prevailing intervention feed
wheat price of 120.71 stg per to... | Financial Reports |
DATA GENERAL <DGN> TO TAKE 2ND QTR CHARGE
| Data General Corp said it
expects to record an extraordinary pretax charge of about 18.2
mln dlrs in the second quarter ended March 28.
The company said the charge will result from a redemption
of debt. On May 18, Data General said, it will redeem 150 mln
dlrs of outstanding 12-3/8 pct sinking fund debe... | Other |
PALM OIL OUTPUT SEEN DROPPING SHARPLY - OIL WORLD
| Malaysian and Indonesian palm oil
production is likely to drop sharply this year, due to lower
yields, the Hamburg-based newsletter Oil World said.
The publication expects total Malaysian output during
Jan/Sept 1987 to decline by eight pct to 3.05 mln tonnes. For
East Malaysia, it put production during ... | Corporate News |
U.K. MONEY MARKET GIVEN FURTHER 284 MLN STG HELP
| The Bank of England said it provided the
money market with a further 284 mln stg assistance in the
afternoon session.
This takes the bank's total help so far today to 508 mln
stg and compares with its revised estimate of a 900 mln stg
shortage in the system which it earlier revised up from 850
mln.
... | Financial Reports |
SESOSTRIS SELLS 18,000 TONNES BARLEY TO GREECE
| Sesostris, the Spanish subsidiary of the
international grain trader Dreyfus, sold 18,000 tonnes of
barley to Greece for delivery from Mediterranean ports from
April 14 to 30, a company spokesman said. He gave no details on
price.
The barley has a 14 pct humidity.
| Financial Reports |
VENDO CO <VEN> 4TH QTR LOSS
| Shr loss 1.48 dlrs vs loss 36 cts
Net loss 4,036,000 vs loss 983,000
Sales 16.6 mln vs 17 mln
12 mths
Shr loss 1.88 dlrs vs profit 71 cts
Net loss 5,113,000 vs profit 1,904,000
Sales 85.4 mln vs 88.5 mln
Note: Prior year net includes extraordinary loss of 298,000
dlrs in qt... | Corporate News |
BOW VALLEY <BVI> TO SELL NORWEGIAN SUBSIDIARY
| Bow Valley Industries Ltd said
it agreed to sell its wholly owned Norwegian subsidiary to Elf
Aquitaine Norge A/S of Stavanger, Norway for 13 mln Canadian
dlrs.
The principal asset of the subsidiary, Bow Valley
Exploration Norge A/S, is an eight pct interest in the Heimdal
gas and condensate field of... | Commodities and Trade |
SYNGOLD DEFINES RESERVES ON DEKA PROPERTY
| <Syngold Exploration Inc> and <Corp
Falconbridge Copper> said they defined undiluted reserves of
911,000 tons of ore with an average grade of 0.43 ounces of
gold per ton in two separate deposits on the Deka property
located at Noranda, Quebec.
Assay results from 20 suface holes drilled on 250 foot... | Financial Reports |
AUSTRALIAN GOVERNMENT TO PAY SUBSIDIES--USDA
| The Australian Government will likely
reimburse the Australian Wheat Board, AWB, about 132 mln (U.S.)
dlrs to pay wheat farmers for their 1986/87 crop, the U.S.
Agriculture Department said.
In its report on Export Markets for U.S. Grains, the
department said the sharp fall in world wheat prices has
re... | Financial Reports |
EMERY AIR FREIGHT SAID HUTTON GROUP ENDS OFFER FOR PUROLATOR COURIER
|
EMERY AIR FREIGHT SAID HUTTON GROUP ENDS OFFER FOR PUROLATOR COURIER
| Corporate News |
LAWSON PRODUCTS INC <LAWS> RAISES QTLY PAYOUT
| Qtly div seven cts vs six cts prior
Pay April 17
Record April three
| Financial Reports |
NORANDA BUYS SHARES OF SANIVAN GROUP
| <Noranda Inc> said it agreed to buy an
initial 1,000,501 treasury shares of <Sanivan Group Inc> at
5.25 dlrs per share.
Noranda also has an option until June 30, 1988, to acquire
an additional 1,000,501 Sanivan treasury shares at 5.75 dlrs
per share.
Sanivan is the largest hazardous waste ma... | Financial Reports |
KANEB ENERGY <KEP> MAY OMIT FUTURE PAYOUTS
| Kaneb Energy Partners Ltd said it may be
forced to omit or lower future quarterly cash distributions
because of a contract dispute with two major customers and the
continued slump in oil and gas prices.
The partnership said, however, that it will pay a regular
quarterly distribution of 60 cts a unit on ... | Corporate News |
HUTTON <EFH> ENDS PUROLATOR <PCC> BID
| Emery Air Freight Corp said it has
entered into an agreement with E.F. Hutton Group Inc EFH under
which Hutton will terminate its merger agreement with Purolator
Courier Corp and its pending 35-dlr-per-share tender offer,
effective April 13.
Under its merger agreement, Hutton has the right to
unilater... | Commodities and Trade |
SOUTH AFRICAN GOLD HOLDINGS RISE IN MARCH
| South Africa gold holdings rose 172.56
mln rand to 4.17 billion rand in March after rising 39 mln rand
to 4.0 billion 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 versus 7... | Financial Reports |
SPAIN TO SELL BARLEY TO SAUDI ARABIA
| Spain will shortly sign with Saudi Arabia
an order for barley for April/May delivery, trade sources said.
They gave no details on amounts or prices, but said it
would be a "major" order.
Saudi Arabia bought 500,000 tonnes of Spanish barley last
year.
| Financial Reports |
DAHLBERG INC <DAHL> 4TH QTR NET
| Shr profit 10 cts vs loss seven cts
Net profit 286,870 vs loss 156,124
Revs 10.0 mln vs 7,577,207
Year
Shr profit five cts vs profit 42 cts
Net profit 160,109 vs profit 906,034
Revs 38.1 mln vs 31.2 mln
Avg shrs 2.9 mln vs 2.2 mln
NOTE: 1986 year includes 53 weeks.
| Other |
BRASCAN LTD <BRS.A> 4TH QTR NET
| Shr 50 cts vs 46 cts
Net 43.0 mln vs 34.8 mln
YEAR
Shr 1.55 dlrs vs 1.38 dlrs
Net 136.8 mln vs 112.9 mln
Note: Holding company.
| Financial Reports |
FLORIDA COMMERCIAL BANKS INC <FLBK> QTLY DIV
| Qtly div 14 cts vs 14 cts prior
Payable March 31
Record March 16
| Other |
VOLCKER SAYS FURTHER SIZEABLE DECLINE IN DOLLAR COULD BE COUNTERPRODUCTIVE
|
VOLCKER SAYS FURTHER SIZEABLE DECLINE IN DOLLAR COULD BE COUNTERPRODUCTIVE
| Financial Reports |
BRAZILIAN COFFEE RAINFALL
| THE FOLLOWING RAINFALL WAS RECORDED IN
THE AREAS OVER THE PAST 24 HOURS
PARANA STATE: UMUARAMA NIL, PARANAVAI NIL, LONDRINA NIL,
MARINGA NIL.
SAO PAULO STATE PRESIDENTE PRUDENTE NIL, VOTUPORANGA NIL,
FRANCA NIL, CATANDUVA NIL, SAO CARLOS NIL, SAO SIMAO NIL.
MINAS GERAIS STATE: GUAXUPE 33.0 MIL... | Financial Reports |
VOLCKER SAYS EXCHANGE RATE ADJUSTMENT ENOUGH TO NARROW U.S. TRADE DEFICIT
|
VOLCKER SAYS EXCHANGE RATE ADJUSTMENT ENOUGH TO NARROW U.S. TRADE DEFICIT
| Financial Reports |
<CHAUVCO RESOURCES LTD> YEAR NET
| Shr 16 cts vs 35 cts
Net 476,000 vs 929,000
Revs 3,000,000 vs 3,600,000
| Commodities and Trade |
VOLCKER SAYS REDUCING U.S. BUDGET DEFICIT NEEDED TO IMPROVE TRADE BALANCE
|
VOLCKER SAYS REDUCING U.S. BUDGET DEFICIT NEEDED TO IMPROVE TRADE BALANCE
| Other |
VOLCKER SAYS MORE STIMULUS ABROAD NEEDED FOR ADJUSTMENTS IN TRADE BALANCES
|
VOLCKER SAYS MORE STIMULUS ABROAD NEEDED FOR ADJUSTMENTS IN TRADE BALANCES
| Financial Reports |
JAPAN CUTTING CHINA CORN COMMITMENTS - USDA
| Japanese traders have apparently
sharply reduced commitments to buy Chinese corn over the next
six months due to high prices, the U.S. Agriculture Department
said.
In its World Production and Trade Report, the department
said traders indicated China may lack supplies or be unwilling
to sell at current... | Financial Reports |
GRAIN RESERVE HOLDINGS -- USDA
| The U.S. Agriculture Department gave
a preliminary breakdown of grain in the Farmer-Owned Grain
Reserve as of April 1, with comparisons, based on telephone
reports from farmers filed with the department's Kansas City
field office, in mln bushels --
April 1 Previous
Wheat 657.6 659.7... | Other |
ON-LINE SOFTWARE <OSI> 3RD QTR FEB 28 NET
| Shr primary 34 cts vs 17 cts
Shr diluted 33 cts vs 17 cts
Net 1,487,000 vs 686,000
Rev 19.8 mln vs 8.8 mln
Nine months
Shr primary 77 cts vs 43 cts
Shr diluted 75 cts vs 43 cts
Net 3,240,000 vs 1,710, 000
Rev 42.2 mln vs 25.0 mln
NOTE: Company's full name is On-Li... | Market and Economy |
GRAIN RESERVE HOLDINGS BREAKDOWN
| The U.S. Agriculture Department gave
the following breakdown of grain remaining in the farmer-owned
grain reserve as of April 1, in mln bushels, by reserve number
--
I II III IV V VI
Wheat nil nil 0.1 0.3 10.5 479.7
Corn -- -- -- 4.1 1,231.9 --... | Financial Reports |
RUDING AGAINST FURTHER DOLLAR FALL, TRADE CURBS
| Shifts in domestic economic policy,
not a further fall in the dollar or trade restrictions, are the
key to reducing imbalances in trade and payments, Dutch Finance
Miniister H. Onno Ruding said.
Ruding told a meeting of the World Trade Forum here that
protectionism would naturally lead to retaliation an... | Commodities and Trade |
SAUDI SUCCESS SEEN IN CURBING OPEC PRODUCTION
| Saudi Arabia will succeed in pressuring
other members of the Organization of Petroleum Exporting
Countries to stay within their production quotas, said Morgan
Stanley Group managing director John Wellemeyer.
Wellemeyer, speaking to reporters at an offshore oil
engineering conference, also said he expect... | Financial Reports |
CAROLYN BEAN <CBEN> COMPLETES ACQUISITION
| Carolyn Bean Publishing Ltd said
it has completed the acquisition of greeting card company
Millen Cards, which had sales of over 1,500,000 dlrs in 1986,
for undisclosed terms.
The company said 90 pct of Millen's cards have been sold in
the northeast and mid-Atlantic states, but Bean expects to
increas... | Corporate News |
CHESAPEAKE <CSK> SEEKS TO SELL UNIT
| Chesapeake Corp said it has
retained Salomon Inc <SB> to help it sell Plainwell Paper Co
Inc, a maker of premium coated and uncoated printing papers and
technical specialty papers with a capacity of 85,000 short tons
a year.
The company said it has decided to sell Plainwell in ordfer
to focus on th... | Financial Reports |
BALL <BLL> TO SUPPLY PENNY BLANKS TO MINTS
| Ball Corp said it was awarded a
one-year 12,750,000 dlr contract to supply copper-plated zinc
penny blanks to the U.S. mints in Philadelphia and Denver.
The new contract, effective in June, calls for shipping
23,200,000 pounds of blanks to the mint in Philadelphia and
7,600,000 pounds to Denver. It said... | Financial Reports |
EC DRIVING TO CAPTURE BRAZIL WHEAT MARKET - USDA
| The European Community, EC, sold
75,000 tonnes of soft wheat at a subsidized price of between 85
and 89 dlrs per tonne FOB for March delivery in a continuing
bid to establish itself in the Brazilian wheat market, the U.S.
Agriculture Department said.
The sale sharply undercut the U.S. offer of 112 dlrs ... | Corporate News |
VOLCKER URGES INDUSTRIAL NATIONS TO KEEP TRADE MARKETS OPEN TO FOSTER GROWTH
|
VOLCKER URGES INDUSTRIAL NATIONS TO KEEP TRADE MARKETS OPEN TO FOSTER GROWTH
| Corporate News |
TYCO LABORATORIES <TYC> 3RD QTR FEB 28 NET
| Shr primary 58 cts vs 66 cts
Shr diluted 54 cts vs 66 cts
Net 10.1 mln vs 11.4 mln
Revs 266.2 mln vs 194.6 mln
Avg shrs 17.4 mln vs 17.1 mln
Nine mths
Shr primary 1.78 dlrs vs 1.58 dlrs
Shr diluted 1.65 dlrs vs 1.58 dlrs
Net 30.9 mln vs 27.1 mln
Revs 823.8 mln vs ... | Commodities and Trade |
CITY NATIONAL CORP <CTYN> RAISES DIVIDEND
| Shr 16 cts vs 13 cts
Pay April 15
Record March 31
| Corporate News |
GOLD FIELDS OF S. AFRICA PROFIT FALLS IN QUARTER
| 1ST QTR TO MARCH 31
Working profit 487.50 mln rand vs 559.59 mln
Tax 274.28 mln vs 302.15 mln
Net 264.32 mln vs 300.99 mln
Tonnes milled 3.74 mln vs 3.72 mln
Gold production 30,865 kgs vs 30,236 kgs
Gold revenue 846.05 mln rand vs 907.36 mln
Working costs 358.56 mln vs 347.77... | Financial Reports |
VOLCKER WARNS AGAINST SIZEABLE DLR DECLINE
| Federal Reserve Board Chairman Paul
Volcker said a further large drop in the value of the dollar
could be counterproductive for world economic growth.
Testifying before the Senate Banking Committee, Volcker
said that Europe and Japan were slowing exports and that growth
in those countries was also decre... | Corporate News |
WALL STREET STOCKS/MARION LABS <MKC>
| Marion Laboratories Inc's stock rose
sharply today after the company presented a bullish earnings
scenario at a meeting for pharmaceutical analysts Monday,
traders and analysts said.
The company said it expects earnings for fiscal 1987,
ending June 30, to rise more than 75 pct over a year ago.
Tha... | Corporate News |
U.S. CALLS FOR GREATER GATT CHECKS ON TRADE
| The United States has appealed for
stronger powers for the General Agreement on Tariffs and Trade
(GATT) to enforce world trade rules.
The call by U.S. Deputy Trade Representative Michael Smith
at a special committee meeting into the future of GATT follows
a series of bilateral trade rows which have clo... | Financial Reports |
ZENITH LABS <ZEN> WILL REPORT 4TH QTR LOSS
| Zenith Laboratories Inc said the
company will report a fourth quarter loss, and the amount will
be determined on completion of its year end audit. The company
did not elaborate further.
For the third quarter ended Sept 30, 1986, Zenith reported
a loss of 3,451,000 dlrs or 16 cts per share, adjusted for ... | Corporate News |
CHINA SOYBEAN OUTPUT DOWN SLIGHTLY - USDA REPORT
| China's soybean crop this year is
forecast at 11.5 mln tonnes, down slightly from 11.55 mln
estiamted for last year, the U.S. Agriculture Department's
officer in Peking said in a field report.
The report, dated April 2, said Chinese imports this year
are projected at 300,000 tonnes unchanged from last y... | Commodities and Trade |
TURKISH CENTRAL BANK SETS LIRA/DOLLAR, DM RATES
| The Turkish Central Bank set a
Lira/Dollar rate for April 8 of 784.50/788.42 to the Dollar,
down from the previous 784.35/788.27.
The Bank also set a Lira/Mark rate of 430.60/432.75 to the
Mark, down from the previous 429.35/431.50.
| Market and Economy |
MANDATORY PRODUCTION CONTROLS DEBATED AT APC
| Delegates to the American Pork Congress
will decide whether or not they want mandatory production
controls when they vote on the official pork producer policy
wednesday, the National Pork Producers Council said.
The American Pork Congress, APC, delegates, listened to
both sides of the question when form... | Market and Economy |
TAIWAN BUYS 25,000 TONNES U.S. SOYBEANS
| Taiwan bought 25,000 tonnes U.S.
soybeans today at 203.40 dlrs a tonne, C and F, Gulf, for May
15-30 shipment, private export sources said.
| Corporate News |
VOLCKER URGES QUICK AID TO DEBTOR NATIONS
| Federal Reserve Board Chairman Paul
Volcker said that debtor nations have made much progress in
laying the groundwork for economic growth, but a solution to
world debt difficulties was endangered by inaction on new
financing.
"There is clearly a danger that adequate financing
arrangements are not bein... | Corporate News |
BUNDESBANK RETAINS MONEY SUPPLY POLICY
| Bundesbank council member Lothar
Mueller said the bank has not given up its money supply policy
and that restraining money supply growth does not always mean
pushing up interest rates.
Mueller said in an article for the Boersen Zeitung
financial daily that a monetary policy which took into account
exc... | Financial Reports |
TAIWAN PASSES ON U.S. CORN, WILL RETENDER
| Taiwan passed on its tender overnight
for 25,000 tonnes of U.S. corn and 49,000 tonnes U.S. sorghum,
private export sources said.
Taiwan will retender for the corn, for May 15-30 shipment
if via the Gulf, or June 1-15 via Pacific northwest, on March
6, but has not rescheduled a tender for sorghum, they ... | Corporate News |
VOLCKER URGES GREATER EXCHANGE RATE STABILITY
| Federal Reserve Board Chairman Paul
Volcker said international policymakers should make improving
the stability of exchange rates a major priority.
In testimony before a Senate Banking subcommittee, Volcker
said he does not have any specific proposals for improving
exchange rate stability, but thought i... | Other |
ITALY SAYS G-7 GIVES CHANCE TO VERIFY TOKYO ACCORD
| This week's Group of Seven (G-7) meeting in
Washington provides an opportunity to verify an accord reached
at the Tokyo summit last May to include Italy and Canada in
Group of Five (G-5) talks on management of the international
monetary system and related issues, the Italian Treasury said.
It said in a ... | Financial Reports |
BANGLADESH PASSES ON TENDER FOR SOFT WHEAT
| Bangladesh passed on its weekend tender
for 100,000 tonnes of optional origin soft wheat, private
export sources said.
| Financial Reports |
KUWAIT SAID SEEKING FOREIGN PROTECTION FOR OIL
| Kuwait has asked at least four
countries, including the United States, Soviet Union, Britain
and China, for temporary use of their flags or tankers to
protect Kuwaiti oil shipments in the troubled Persian Gulf,
Reagan Administration officials said.
The officials confirmed a New York Times report that Ku... | Corporate News |
ROLLS APPROACHES FLOAT WITH PROFITS SET TO RISE
| State-owned engine maker <Rolls Royce
Plc> launches its prospectus for privatisation tomorrow with
many analysts forecasting higher profits this year. But it is
likely to miss contracts to power the proposed <Airbus
Industrie> A340 aircraft.
The company's so-called "pathfinder prospectus" gives al... | Commodities and Trade |
PORK CHECKOFF REFUNDS LESS THAN EXPECTED
| The National Pork Board announced at the
American Pork Congress convention in Indianapolis that refunds
under the legislative checkoff program are running less than
expected.
The Board oversees collection and distribution of funds
from the checkoff program that was mandated by the 1985 farm
bill. Virg... | Other |
VOLCKER SEES DOLLAR AS FACTOR IN MONETARY POLICY
| Federal Reserve Board Chairman Paul
Volcker said the performance of the dollar in exchange markets
could be a factor in the U.S. central bank's decisions on
monetary policy.
"The performance of the dollar in the exchange market might
become a factor bearing on our provision of reserves," Volcker
said ... | Financial Reports |
SOUTH AFRICA CORN EXPORTS COULD BE REDUCED-USDA
| Despite earlier optimistic
indications, the South African corn crop is at a critical stage
in its development and recent reports of heat stress could
reduce production and therefore exportable supplies, the U.S.
Agriculture Department said.
In its report on Export Markets for U.S. Grains, the
departme... | Financial Reports |
FED EXPECTED TO SET CUSTOMER REPURCHASES
| The Federal Reserve is expected to
intervene in the government securities market to supply
temporary reserves indirectly via customer repurchase
agreements, economists said.
They said the Fed is expected to execute anywhere from
1.5-2.0 billion dlrs of customer repos to offset seasonal
pressures on ba... | Financial Reports |
BROWN-FORMAN INC <BFD> 4TH QTR NET
| Shr one dlr vs 73 cts
Net 12.6 mln vs 15.8 mln
Revs 337.3 mln vs 315.2 mln
Nine mths
Shr 3.07 dlrs vs 3.08 dlrs
Net 66 mln vs 66.2 mln
Revs 1.59 billion vs 997.1 mln
| Commodities and Trade |
<PAGE PETROLEUM LTD> YEAR LOSS
| Shr loss 1.98 dlrs vs loss 5.24 dlrs
Net loss 23.3 mln vs loss 44.8 mln
Revs 13.6 mln vs 29.6 mln
Note: 1986 net includes nine mln dlr extraordinary loss for
oil and gas writedowns and unrealized foreign exchange losses
vs yr-ago loss of 32.5 mln dlrs.
| Other |
VOLCKER PUSHES SPENDING CUTS OVER TRADE BILL
| Federal Reserve Board Chairman Paul
Volcker said reducing the federal budget deficit was a more
important goal for Congress than drafting trade legislation.
"Reduce the budget deficit," Volcker responded when asked by
a member of the Senate Banking Committee about trade
legislation priorities.
"If... | Financial Reports |
AMERICAN SPORTS ADVISORS <PIKS> TO LIQUIDATE
| American sports Advisors Inc
said it has agreed to sell its sports handicapping and
publication business to Professor Enterprises for about
1,650,000 dlrs and intends to liquidate after closing.
The transaction is subject to shareholder approval.
Professor is owned by American Sports president Edwar... | Commodities and Trade |
VOLCKER SAYS RESTRICTIVE MONETARY POLICY WOULD HURT INVESTMENT
|
VOLCKER SAYS RESTRICTIVE MONETARY POLICY WOULD HURT INVESTMENT
| Corporate News |
<DEXLEIGH CORP> SIX MTHS DEC 31 NET
| Shr four cts vs three cts
Net 4,505,000 vs 4,493,000
Revs 23.3 mln vs 21.4 mln
| Corporate News |
CBT TRADERS LOOK AHEAD TO SPRING PLANTINGS
| Chicago Board of trade grain traders and
analysts voiced a lot of interest in how farmers planned to
handle their upcoming spring plantings, prompting sales of new
crop months of corn and oats and purchases in new crop soybeans
in the futures markets.
Professionals in the grains trade think that farmers... | Corporate News |
VOLCKER SEES TIGHT POLICY HURTING INVESTMENT
| Federal Reserve Board Chairman Paul
Volcker said a restrictive monetary policy would be damaging to
investment and that a better course would be to restrain
spending.
"A restrictive monetary policy would hit investment. You
don't want to put interest rates up unless you have to," Volcker
told the Sena... | Financial Reports |
U.S. CONGRESS TO LOOK AT SOIL PROGRAM EXEMPTIONS
| The Senate Agriculture Committee is
expected to take up a bill tomorrow that would exempt from
government conservation regulations those farmers who have
rotated alfalfa and other multiyear grasses and legumes with
row crops, committee staff said.
Under current so-called "sodbuster" law, farmers who pla... | Corporate News |
NEW BEDFORD INSTITUTION FOR SAVINGS <NBBS> YEAR
| Net 12.3 mln vs 6,438,000
NOTE: Company went public in March.
| Financial Reports |
NATIONAL PORK BOARD ALLOCATES 2.4 MLN DLRS
| The National Pork Board on Monday
allocated 2.4 mln dlrs in discretionary funds, collected from
the 100 pct national checkoff program, to three industry
organizations.
The National Pork Producers Council, NPPC, will receive
almost 1.8 mln dlrs for use in the areas of food service,
consumer education a... | Industrial and Sector News |
NIPPON STEEL INVESTS 8 MLN DLRS IN GTX CORP
| GTX Corp said Nippon Steel Co of Japan,
in a move to diversify into high technology, invested eight mln
dlrs in GTX.
Nippon's move was the result of current exchange rates and
the revaluation of the yen, which "have made the U.S.
electronics industry an attractive investment opportunity for
Japanese c... | Commodities and Trade |
PHOTRONICS CORP <PHOT> YEAR FEB 28 NET
| Shr 64 cts vs 38 cts
Net 1,062,000 vs 585,000
Sales 13.6 mln vs 9,262,000
| Financial Reports |
OCEAN BIO-CHEM INC <OBCI> YEAR NET
| Shr eight cts vs seven cts
Net 215,821 vs 196,873
Sales 3,112,571 vs 2,649,003
| Commodities and Trade |
TELE-COMMUNICATIONS <TCOMA> SELLS CABLE SYSTEMS
| Knight-Ridder Inc <KRI> said its TKR Cable
Co joint venture with Tele-communications Inc has signed a
letter of intent to acquire cable television systems with
55,000 basic subscribers in Wildwood, N.J., and Ramapo and
Warwick, N.Y., from Tele-Communications for undisclosed terms.
| Commodities and Trade |
ENVIRONMENTAL POWER CORP <POWR> YEAR NET
| Shr profit 25 cts vs loss 15 cts
Net profit 998,000 vs loss 612,000
Revs 8,086,000 vs 365,000
| Commodities and Trade |
GERMAN LONG-TERM CAPITAL INFLOW SLUMPS IN FEBRUARY
| The inflow of long-term capital into
West Germany slumped to 606 mln marks in February from
January's record 11.91 billion, with foreign purchases of
German bonds and shares declining sharply, the Bundesbank said.
While foreigners bought only four billion marks worth of
German bonds in February after 13... | Financial Reports |
C.T.C. DEALER EXTENDS BID FOR CANADIAN TIRE
| C.T.C. Dealer Holdings Ltd said it
extended its previously announced offer for 49 pct of <Canadian
Tire Corp Ltd> to midnight on March 26.
CTC, a group of Canadian Tire dealers, which already owns
17 pct of Canadian Tire, is currently appealing in an Ontario
court against a previously announced Ontar... | Corporate News |
EC SOURCES SAY UK WHEAT PLAN YET TO BE APPROVED
| The European Commission has not taken a
decision on applications from the British government for the
release of 200,000 tonnes of intervention feed wheat onto the
British market in May and June, Commission sources said.
They said last week's cereals management committee agreed
to release 70,000 tonnes o... | Corporate News |
BROKERAGE FIRM UPS STAKE IN ALLEGHENY <AG>
| The New York brokerage firm of Spear,
Leeds and Kellogg told the Securities and Exchange Commission
it had increased its preferred stock in Allegheny International
Inc to 8.6 pct, from 7 pct.
It said it may buy additional shares, but had not decided
whether to offer its shares in response to a tender of... | Commodities and Trade |
ROCKWELL <ROK> SEES IMPROVEMENT IN 1987
| Rockwell International Corp
continues to expect significant improvement in 1987 results,
despite the somewhate disappointing performance of one of its
business segments, President Donald Beall told Reuters.
Rockwell reported net earnings in its first quarter ended
December 31 of 149.4 mln dlrs, or 1.05 ... | Financial Reports |
MALTA TENDERS FOR WHITE SUGAR TODAY - TRADE
| Malta is tendering to buy 3,000 tonnes
white sugar today for arrival in two equal parts in May and
June, traders said.
| Corporate News |
FED SETS TWO-DAY SYSTEM REPURCHASES, FED SAYS
|
FED SETS TWO-DAY SYSTEM REPURCHASES, FED SAYS
| Corporate News |
CORROON AND BLACK <CBL> COMPLETE ACQUISITION
| Corroon and Black Corp said it
completed the acuqisition of <Contractors Planning Group Inc>
in an exchange of shares.
Contractors is headquartered in Garden City, N.Y., and has
branch offices in Philadelphia, Boston, and Cheshire, Conn.
| Corporate News |
COLONIAL <CLBGA> TO ACQUIRE PENSACOLA BANK
| Colonial BancGroup said it and
The Liberty Bank of Pensacola, Fla., signed a letter of intent
for Colonial to acquire Liberty.
Terms of the acquisition were not dislcosed.
Colonial said the acquisition was its first move toward
acquiring and out-of-state bank under Alabama's regional
interstate ba... | Financial Reports |
SUPER RITE FOODS INC <SRFI> SETS QTRLY PAYOUT
| Qtrly div five cts vs five cts prior
Pay April 27
Record April 20
| Other |
MILTON ROY CO <MRC> SETS QUARTERLY
| Qtly div 11 cts vs 11 cts prior
Pay June 15
Record May 15
| Financial Reports |
GOLDSIL AND GOLDEN RULE AGREE TO MERGE
| <Golden Rule Resources Ltd> and
Goldsil Resources Ltd said they had agreed to merge.
The merged company will issue to each Golden Rule
shareholder 1-1/2 shares and one warrant. The warrant will be
for a term of two years. Payment of 3.10 dlrs and delivery of
two warrants will entitle the shareholder ... | Commodities and Trade |
FED SETS TWO-DAY SYSTEM REPURCHASES
| The Federal Reserve entered the
government securities market to arrange two-day repurchase
agreements for system account, a spokeswoman for the New York
Fed said.
Fed funds were trading at 6-1/8 pct at the time of the
direct injection of temporary reserves, dealers said.
Most economists had expect... | Corporate News |
COLONIAL BANCGROUP INC <CLBGA> 1ST QTR NET
| Shr 25 cts vs 55 cts
Net 1.3 mln vs 2,460,000
NOTE: 1987 1st qtr includes loan write-offs at banking
subsidiary, The Colonial Bank of Mobile, due to loan losses, of
1.3 mln dlrs or 25 cts a share.
| Financial Reports |
Dresdner to propose 1986 dividend 10 marks vs same, one-for-18 bonus share issue
|
Dresdner to propose 1986 dividend 10 marks vs same, one-for-18 bonus share issue
| Financial Reports |
JAPAN CUTS CHIP SUPPLY, MAY PRODUCE SHORTAGE
| Japan is attempting to cut back
semiconductor production to forstall the 300 mln dlrs in U.S.
tariffs on Japanese electronic goods set to take effect April
17, industry analysts said.
The move is likely to create a sharp price rise and a
possible shortage of the key computer components in the next
few... | Financial Reports |
IDB COMMUNICATIONS GROUP INC <IDBX> YEAR NET
| Period ended December 31.
Shr 25 cts vs 20 cts
Net 801,000 vs 703,000
Revs 6,318,000 vs 3,926,000
| Financial Reports |
MICKELBERRY CORP <MBC> SETS QTLY PAYOUT
| Qtly div 1-1/2 cts vs 1-1/2 cts prior
Pay March 31
Record March 13
| Financial Reports |
INVESTORS RAISE STAKE IN PUROLATOR <PCC>
| Two New York management investment
firms told the Securities and Exchange Commission they had
increased their holdings in Purolator Courier Corp to 7.2 pct,
from 6.2 pct.
Mutual Shares Corp and Mutual Qualified Income Fund Inc
said they were weighing offers to buy Purolator shares from PC
Acquisition ... | Commodities and Trade |
DUTCH MONEY MARKET DEBT RISES IN WEEK
| Loans and advances from the Dutch
Central Bank to the commercial banks rose by 1.2 billion
guilders to 10.7 billion in the week up to and including April
6, the Bank's weekly return showed.
Paper discounted with the Bank also rose, by 477 mln
guilders to 916 mln.
These rises were balanced by a 1.6... | Financial Reports |
SWAP DEALERS UNVEIL STANDARD CONTRACT
| The International Swap Dealers
Association has developed the first standard form contract for
use by arrangers of currency and interest rate swap
transactions, said Thomas Jasper, the Association's
co-chairman.
The contract, unveiled at a press conference , is expected
to make the 300 billion dlr a ye... | Financial Reports |
KUWAIT ASKS TO USE FOREIGN FLAG TANKERS, U.S SAYS
| Kuwait has asked at least four
countries, including the United States, Soviet Union, Britain
and China, for temporary use of their flags or tankers to
protect Kuwaiti oil shipments in the troubled Persian Gulf,
Reagan Administration officials said.
The officials confirmed a New York Times report that Ku... | Other |
U.S. GRAIN CERTS SAVE 50-100 MLN DLRS - AMSTUTZ
| The use of generic commodity
certificates, or "certs," for fiscal years 1986-88 will save
the government 50 to 100 mln dlrs, Department of Agriculture
Undersecretary Daniel Amstutz said.
Speaking at a House agriculture subcommittee hearing on the
use of the certificates, Amstutz said that the issuance o... | Financial Reports |
VOLCKER SAYS FED POLICY NOT RESPONSIBLE FOR PRIME RATE RISE
|
VOLCKER SAYS FED POLICY NOT RESPONSIBLE FOR PRIME RATE RISE
| Financial Reports |
U.S. URGES SURPLUS NATIONS TO BOOST GROWTH
| Leading industrial nations will be
reviewing the Paris agreement to stabilize exchange rates,
foster increased worldwide growth and reduce trade imbalances
but the U.S. thinks the accord has been successful so far, a
senior U.S. Treasury official said.
"The Paris accord will be reviewed at this meeting.... | Market and Economy |
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