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4-MAR-1987 15:35:42.66
| 4-MAR-1987 15:35:42.66
| Other |
WTD INDUSTRIES INC <WTDI> 3RD QTR JAN 31 NET
| Shr profit 13 cts vs loss one ct
Net profit 853,000 vs loss 22,000
Sales 41.1 mln vs 20.3 mln
Avg shrs 6,349,753 vs 4,403,852
Nine Mths
Shr profit 57 cts vs profit 28 cts
Net profit 2,869,000 vs profit 1,252,000
Sales 119.0 mln vs 67.6 mln
Avg shrs 5,054,844 vs 4,403,85... | Market and Economy |
LNG IMPORTS FROM ALGERIA UNLIKELY IN 1987
| Liquefied natural gas imports from
Algeria are unlikely to happen in 1987 even though its
economically feasible, U.S. industry analysts sources said.
Youcef Yousfi, director-general of Sonatrach, the Algerian
state petroleum agency, indicated in a television interview in
Algiers that such imports would ... | Corporate News |
HEALTHVEST <HVT> SELLS SHARES
| Healthvest, a Maryland real estate
investment trust, said it began selling five mln shares of
common stock at 21 dlrs a share.
The company said it is also selling 543,237 shares to
Healthcare International Inc <HII>, giving the company a 9.8
pct stake in Healthvest.
| Other |
CACEX DENIES BRAZIL FCOJ PRICE RISE RUMOURS
| There has been no rise in the
price of Frozen Concentrated Orange Juice, FCOJ, a spokesman
for the Banco do Brasil's Foreign Trade Department, Cacex,
said.
He was responding to rumours in the international market
that Brazil had raised its FCOJ prices in range of 1,075 to
1,150 dlrs per tonne.
| Market and Economy |
E-SYSTEMS <ESY> SETS QTRLY PAYOUT
| Qtrly div 12.5 cts vs 12.5 cts prior
Pay April 1
Record March 13
| Other |
PIEDMONT MANAGEMENT CO INC <PMAN> 4TH QTR
| Shr 70 cts vs 4.91 dlrs
Net 3.7 mln vs 26.3 mln
Year
Shr 1.99 dlrs vs 3.35 dlrs
Net 10.7 mln vs 18.0 mln
NOTE:1986 year, 4th qtr include capital gains of 3.5 mln
dlrs and 1.1 mln dlrs, respectively and extraordinary gain of
3.4 mln dlrs and 1.2 mln dlrs respectively. 1985 year and 4t... | Market and Economy |
EASTPARK REALTY TRUST <ERT> 4TH QTR NET
| Shr 1.52 dlrs vs 17 cts
Net 1,306,000 vs 144,000
Rev 758,000 vs 670,000
Year
Shr 2.68 dlrs vs 2.63 dlrs
Net 2,313,000 vs 2,285,000
Rev 2.8 mln vs 2.7 mln
NOTE: Fourth qtr and 1986 had gains on real estate
investments of 933,000 dlrs, or 1.08 a share, and 970,000 dlrs,
or ... | Market and Economy |
NL INDUSTRIES INC <NL> SETS QTRLY PAYOUT
| Qtrly div five cts vs five cts qtr
Pay April One
Record March 16
| Financial Reports |
WTD INDUSTRIES INC <WTDI> 3RD QTR JAN 31 NET
| Shr profit 13 cts vs loss one ct
Net profit 853,000 vs loss 22,000
Revs 41.1 mln vs 20.3 mln
Avg shrs 6,349,753 vs 4,403,852
Nine mths
Shr profit 57 cts vs profit 28 cts
Net profit 2,869,000 vs profit 1,252,000
Revs 119.0 mln vs 67.6 mln
Avg shrs 5,054,844 vs 4,403,000
... | Corporate News |
ALASKA AIR GROUP INC <ALK> QTLY DIVIDEND
| Shr four cts vs four cts prior qtr
Pay May five
Record April 15
| Market and Economy |
USAIR <U> HAS NO COMMENT ON TWA <TWA> OFFER
| USAir Group Inc said it had no comment
on an offer it received from Trans World Airlines to buy USAir
for 52 dlrs cash per share.
USAir spokesman David Shipley also declined comment on
Piedmont Aviation Inc <PIE>. USAir has offered 71 dlrs cash per
share for half of Piedmont's stock, and 73 dlrs in i... | Financial Reports |
MORE PRESSURE URGED FOR ASIA TO TAKE U.S. BEEF
| Congressmen from beef producing
states and representatives of the U.S. livestock industry
urged the Reagan administration to press Japan and South Korea
to open up their markets to imports of beef.
Testifying at a House subcommittee hearing on livestock
issues, Rep. Hal Daub (R-Nebr.), said the adminis... | Financial Reports |
SOUTH AFRICAN FOREIGN RESERVES UP SHARPLY IN FEB
| South Africa's total gold and
foreign assets rose by 700 mln rand in February to 6.2 billion
rand after rising by almost one billion rand in January,
Reserve Bank Governor Gerhard de Kock said.
De Kock, interviewed on state-run television, gave no
breakdown of the reserves.
He also said that to cu... | Commodities and Trade |
MORE SOVIET GRAIN BUYING FROM U.S. TIED TO PRICE
| Whether the Soviet Union will fulfill
its buying obligations under the U.S./USSR grains agreement
depends entirely on the United States, a Soviet trade official
told Reuters.
"How can I tell that we are ready to fulfill the agreement
if the United States does not want to offer us grain at
competitive ... | Commodities and Trade |
LEASEWAY TRANSPORTATION CORP <LTC> QTLY DIV
| Qtly div 37.5 cts vs 37.5 cts prior
Pay April eight
Record March 16
| Market and Economy |
PERU SUGAR HARVEST SEEN LOWER -- USDA
| Sugar production in Peru for the
1986/87 season has been revised to 593,000 tonnes (raw value),
down 10 pct from the previous forecast and 21 pct below the
1985/86 harvest, the U.S. Agriculture Department said in its
World Production and Trade Report.
It said while rains in the northern mountain region ... | Market and Economy |
ITEL <ITEL> GETS FINANCING FOR ANIXTER BUY
| Itel Corp said it obtained commitments
from a syndicate of banks for a six-year secured loan of about
325 mln dlrs and had separately filed registration statements
for two public offerings for a total of 150 mln dlrs to fund
its December 1986 acquisition of <Anixter Bros Inc>.
It said one of the offe... | Market and Economy |
GREAT AMERICAN <GTA> GAINS OVER 80 MLN IN LOANS
| Great American First Savings Bank said
the bank recorded gains exceeding 80 mln dlrs on sales of loans
and mortgage securities valued at 1.1 billion dlrs.
The San Diego-based bank said in a prepared release of its
report to analysts here that the gains included 6.6 mln dlrs in
arbitrage profits from the... | Corporate News |
SWISS ECONOMY IN EXCELLENT CONDITION, OECD SAYS
| Switzerland's economy, combining low
unemployment, financial stability and a large external payments
surplus, is in excellent condition and faces a satisfactory
future, the Organisation for Economic Cooperation and
Development, OECD, said.
This reflected the success of stable and relatively tight
fisc... | Corporate News |
TANDY BRANDS <TAB> SELLS UNIT
| Tandy Brands Inc said it sold
its Grate Home and Fireplace division to an investor group that
includes some members of Grate's management for 1,600,000 dlrs
in cash and secured notes.
The company said the sale will not materially offset the
9,848,000 dlr non-recurring charge it took against the sale of
... | Other |
AMERICAN FARM BUREAU OPPOSES FARM BILL CHANGES
| The directors of the American Farm
Bureau, the nation's largest farm organization, voted Tuesday
to urge Congress to leave the 1985 farm bill in place without
alterations.
"We are solidly opposed to opening up the 1985 farm bill,"
said Dean Kleckner, president. "The current farm bill has been
in place... | Market and Economy |
BROWING-FERRIS <BFI> DECLARES 2-FOR-1 SPLIT
| Browning-Ferris Industires Inc said its
board declared a two-for-one stock split payable April 24 to
holders of record March 31.
| Other |
PENNWALT CORP <PSM> QTLY DIVIDEND
| Qtly div 55 cts vs 55 cts prior
Payable May one
Record April three
| Commodities and Trade |
BANNER INDUSTRIES INC <BNR> COMPLETES PURCHASE
| Banner Industries Inc said it completed
the purchase of all Rexnord Inc <REX> common shares for its
26.25 dlrs per share cash tender offer that ended Feb
27, 1987.
The purchase follows Banner receiving earlier today 310 mln
dlrs under a credit agreement with Citicorp Industries Credit
Inc and the B... | Financial Reports |
MURPHY RAISES CRUDE OIL POSTED PRICES ONE DLR/BBL. WTI TO 17.00 DLRS TODAY
|
MURPHY RAISES CRUDE OIL POSTED PRICES ONE DLR/BBL. WTI TO 17.00 DLRS TODAY
| Market and Economy |
DEAN FOODS <DF> SEES STRONG 4TH QTR EARNINGS
| Dean Foods Co expects earnings for the
fourth quarter ending May 30 to exceed those of the same
year-ago period, Chairman Kenneth Douglas told analysts.
In the fiscal 1986 fourth quarter the food processor
reported earnings of 40 cts a share.
Douglas also said the year's sales should exceed 1.4
bi... | Financial Reports |
U.S. WHEAT BONUS TO SOVIET CALLED DORMANT
| The U.S. Agriculture Department is not
actively considering offering subsidized wheat to the Soviet
Union under the export enhancement program (EEP), senior USDA
officials said.
However, grain trade analysts said the proposal has not
been ruled out and that an offer might be made, though not in
the ve... | Other |
PHOENIX STEEL RECEIVES OFFER FOR CLAYMONT MILL
| <Phoenix Steel Corp> said a group
of investors offered to buy its Clayton steel plate mill for
eight mln dlrs and the assumption of a bond obligation.
Phoenix did not disclose the indentity of the investors.
Phoenix was forced to close the Clayton mill last month.
The company said the offer re... | Commodities and Trade |
KEANE INC <KEAN> 4TH QTR
| Shr 17 cts vs 15 cts
Net 229,000 vs 201,000
revs 10.5 mln vs 9.9 mln
Year
Shr 21 cts vs 55 cts
Net 283,000 vs 766,000
Revs 40.4 mn vs 39.7 mln
NOTE:1985 shares adjusted to reflect the distribution of
one share of Class B common stock for every two shares of
common stock h... | Financial Reports |
VIACOM <VIA> MERGER EXPECTED IN 60 TO 90 DAYS
| Sumner Redstone, president of National
Amusements, Inc, predicted he can win regulatory approvals to
wrap up the 3.4 billion dlr acquisition of Viacom International
Inc in 60 to 90 days.
Redstone, 63, catapulted himself into the big leagues of
entertainment early today when a group of Viacom managers an... | Financial Reports |
BRITISH AIDE CRITICIZES U.S.PROTECTIONISM
| A senior British official said that
protectionist bills being considered by Congress could trigger
retaliation by the European Community (EEC) and threaten the
global trading system.
Paul Channon, secretary for trade and industry, said if
Congress passed legislation to curb textile imports, which
woul... | Other |
YEUTTER SEEKS STRONGER TAIWAN, S.KOREA CURRENCIES
| U.S. Trade Representative Clayton
Yeutter said he hoped the U.S. dollar would continue to decline
in relation to the currencies of Taiwan and South Korea as a
way to improve the U.S. trade picture.
Testifying before the House Appropriations subcommittee
which must approve his agency's 1988 budget, he sa... | Commodities and Trade |
NL INDUSTRIES INC <NL> SET REGULAR PAYOUT
| Qtly div five cts vs five cts prior
Pay March 31
Record March 16
| Other |
CHINA SUGAR OUTPUT SEEN LOWER -- USDA
| China's 1986/87 sugar crop has been
revised to 5.26 mln tonnes (raw value), down four pct from the
previous forecast and five pct below the previous season, the
U.S. Agriculture Department said.
In its World Production and Trade Report, the department
attributed the decline to relatively poor profitabil... | Financial Reports |
GENERAL HOST <GH> SEES YEAR LOSS
| General Host Corp said it will
report a loss from continuing operations and a sharp decline in
net income for the year ended January 25, 1987, due to
substantial operating losses in its Frank's Nursery and Crafts
unit. For the year ended January 25, 1986, General reported net
income of 29.7 mln dlrs.
... | Commodities and Trade |
MEDTRONIC INC <MDT> SETS PAYOUT
| Qtly dividend 22 cts vs 22 cts
Pay April 30
Record April 10
| Other |
LOUISVILLE GAS AND ELECTRIC CO <LOU> DIVIDEND
| Qtly dividend 65 cts vs 65 cts
Pay April 15
Record March 31
| Commodities and Trade |
ALATENN RESOURCES INC <ATNG> 4TH QTR NET
| Shr 75 cts vs 52 cts
Net 1,699,124 vs 1,177,786
Revs 45.6 mln vs 31.6 mln
12 mths
Shr 2.22 dlrs vs 2.20 dlrs
Net 5,057,292 vs 4,961,085
Revs 130.2 mln vs 126.7 mln
| Corporate News |
KAISER ALUMINUM <KLU> RAISES PRODUCT PRICES
| Kaiser Aluminum and Chemical
Corp said it is increasing prices for a broad range of common
alloy coil, flat sheet and plate products.
The company said prices to distributors and direct
customers on shipments of new orders placed March 4 and after
will be increased by four to eight cts per lb.
Kais... | Financial Reports |
ROBERTSON UPS CAPITAL WIRE<CWCC> STAKE TO 12 PCT
| New York investor Julian Robertson
and several investment partnerships he controls said they
raised their stake in Capital Wire and Cable Corp to 481,800
shares, or 12.2 pct of the total, from 430,200, or 10.9 pct.
In a filing with the Securities and Exchange Commission
Robertson and his Tiger, Jaguar, ... | Financial Reports |
TWA <TWA> TANGLES PIEDMONT <PIE> SITUATION
| Trans World Airlines Inc complicated
the bidding for Piedmont Aviation Inc by offering either to buy
Piedmont suitor USAir Group or, alternatively, to merge with
Piedmont and USAir.
Piedmont's board was meeting today, and Wall Street
speculated the board was discussing opposing bids from Norfolk
South... | Commodities and Trade |
FOREST OIL CORP <FOIL> 4TH QTR
| Shr loss 29 cts vs profit eight cts
Net loss 2.0 mln vs profit 568,000
year
Shr loss 1.37 dlrs vs profit 88 cts
Net loss 9.3 mln vs profit 6.0 mln
| Financial Reports |
YEUTTER PLANS TRADE TRIP TO CHINA THIS SUMMER
| U.S. Trade Representative Clayton
Yeutter said he plans a July trip to China to discuss trade
issues including China's admission to the General Agreements on
Tariffs and Trade.
Yeutter told a congressional hearing it was possible China
could be a member of GATT before the end of the year.
"They ar... | Corporate News |
RIO COFFEE TRADE PREFERS NO PACT TO QUOTA CUT
| The failure of talks to introduce
new coffee export quotas within the International Coffee
Agreement, ICA, was preferable to the alternative of Brazil
having a sharply reduced quota, as had been proposed, President
of the Rio de Janeiro Coffee Trade Association Carlos Calmon
said.
He told Reuters prop... | Commodities and Trade |
ISRAEL TENDERS TONIGHT FOR CORN AND/OR SORGHUM
| Israel will tender overnight for
33,000 long tons of U.S. sorghum and/or 22,000 long tons of
U.S. corn for April shipment, private export sources said.
| Corporate News |
U.S. CABINET COUNCIL SET TO MULL FARM ISSUES
| The Reagan administration's
cabinet-level Economic Policy Council is scheduled to meet
Friday to discuss, among other issues, the status of
agricultural legislation, administration officials said.
The officials said discussion of a U.S. Agriculture
Department wheat export subsidy to the Soviet Union was... | Corporate News |
UNICORP AMERICAN CORP <UAC> 4TH QTR NET
| Shr 13 cts vs 70 cts
Net 1,538,000 vs 8,614,000
Revs 16.4 mln vs 19.6 mln
12 mths
Shr 89 cts vs 2.43 dlrs
Net 10.3 mln vs 29.8 mln
Revs 56.2 mln vs 83.8 mln
Note: 1986 net is before preferred dividend payments and
includes after-tax gain from sale of real estate properties ... | Commodities and Trade |
BANNER <BNR> COMPLETES REXNORD SHARE PURCHASE
| Banner Industries Inc said it completed
the previously announced purchase of Rexnord Inc <REX>. It said
it owns 96 pct of Rexnord's outstanding following the purchase
of all Rexnord's common validly tendered pursuant to its 26.25
dlr per share cash tender offer ended February 27.
Banner also said it ... | Market and Economy |
U.S. REAFFIRMS OPPOSITION TO EC OILS TAX PLAN
| A meeting among government agencies
today reaffirmed the strong opposition of the United States to
a proposed new tax on vegetable oils and fats in the European
Community, U.S. trade officials said.
Representatives of the major government agencies agreed at
a trade policy review group meeting, which inc... | Commodities and Trade |
<CCL INDUSTRIES INC> 4TH QTR NET
| Shr 15 cts vs 18 cts
Net 4,500,000 vs 5,300,000
Revs 156.7 mln vs 152.0 mln
YEAR
Shr 72 cts vs 1.11 dlrs
Net 21.7 mln vs 33.0 mln
Revs 695.4 mln vs 653.5 mln
Note: Shr profit relates to class B non-voting shares.
| Commodities and Trade |
VERSATILE TO SELL UNIT TO VICON
| <Versatile Corp> said
it agreed in principle to sell its Alberta-based Versatile
Noble Cultivators Co division to Vicon Inc, of Ontario, for
undisclosed terms.
The division manufactures tillage and spraying equipment.
| Market and Economy |
EIA SAYS DISTILLATE STOCKS OFF 3.4 MLN BBLS, GASOLINE OFF 100,000, CRUDE UP 3.2 MLN
|
EIA SAYS DISTILLATE STOCKS OFF 3.4 MLN BBLS, GASOLINE OFF 100,000, CRUDE UP 3.2 MLN
| Commodities and Trade |
(G.T.C. TRANSCONTINENTAL GROUP LTD) 1ST QTR NET
| Shr 11 cts vs nine cts
Net 2.1 mln vs 1.6 mln
Revs 60.8 mln vs 32.9 mln
Avg shrs 19.7 mln vs 17.2 mln
Note: period ended January 31.
Reuter
| Commodities and Trade |
PIEDMONT AVIATION RECESSES MEETING WITHOUT TAKING ACTION ON MERGER PROPOSALS
|
PIEDMONT AVIATION RECESSES MEETING WITHOUT TAKING ACTION ON MERGER PROPOSALS
| Corporate News |
EIA SAYS DISTILLATE, GAS STOCKS OFF IN WEEK
| Distillate fuel stocks held in
primary storage fell by 3.4 mln barrels in the week ended Feb
27 to 128.4 mln barrels, the Energy Information Administration
(EIA) said.
In its weekly petroleum status report, the Department of
Energy agency said gasoline stocks were off 100,000 barrels in
the week to 25... | Corporate News |
CANADA CENTRAL BANK HEAD SEES MODERATE GROWTH
| Bank of Canada Governor John Crow said he
expects the Canadian economy will grow moderately in the coming
year, despite the near flat growth in the final quarter of
1986.
"We see moderate growth," Crow told a news conference
following presentation of the central bank's annual report in
the House of Co... | Commodities and Trade |
VIDEOTRON BUYS INTO EXHIBIT COMPANY
| (Groupe Videotron Ltd) said it agreed to
buy 50 pct of (Groupe Promexpo Inc), a company which
specializes in product exhibits, for three mln dlrs.
| Financial Reports |
ALLIS-CHALMERS <AH> PROPOSES RESTRUCTURING
| Allis-Chalmers Corp said it asked
lenders and other groups to approve a restructuring plan that
would cause a dilution of the company's existing common stock.
The company said it would sell all of its businesses other
than the American Air Filter business, make a public financing
of more than 100 mln dl... | Financial Reports |
AMVESTORS FINANCIAL CORP <AVFC> 4TH QTR NET
| Oper shr profit 11 cts vs loss 27 cts
Oper net profit 662,625 vs loss 774,002
Revs 43.9 mln vs 18.4 mln
Year
Oper shr profit 37 cts vs loss 37 cts
Oper net profit 1,487,796 vs loss 1,119,626
Revs 150.1 mln vs 51.7 mln
NOTE: 1986 4th qtr and yr oper net excludes 6,134 dlrs and... | Corporate News |
PIEDMONT <PIE> TAKES NO ACTION
| Piedmont Aviation Inc said
its board meeting recessed today without taking action on
proposals to combine Piedmont with other corporations.
Piedmont has received opposing bids from Norfolk Southern
Corp and US Air Corp.
Earlier today, Trans World Airlines Inc offered to either
buy Piedmont suitor ... | Corporate News |
YEUTTER CONCERNED ABOUT U.S. EXPORT PICTURE
| U.S. Trade Representative Clayton
Yeutter said he expects imports to fall soon but he was
concerned about the lack of improvement in U.S. exports given
the dollar's decline in the last 18 months.
"I'm convinced we're about to see an improvement on the
import side. I'm more concerned about the export sid... | Industrial and Sector News |
<MEMOTEC DATA INC> YEAR NET
| Shr 81 cts vs 66 cts
Net 5,011,000 vs 2,314,000
Revs 57.3 mln vs 17.6 mln
Note: results include extraordinary gains of 1,593,000 dlrs
or 26 cts a share in 1986 and 451,000 dlrs or 13 cts a share in
1985.
| Financial Reports |
HOUSE TRADE BILL DRAFTING POSTPONED
| The House Ways and Means trade
subcommittee postponed until next week its opening session to
start drafting major changes to U.S. trade laws, a committee
aide said.
The subcommittee had not yet completed the preparatory work
to start writing the legislation, the aide said.
| Financial Reports |
<LUMONICS INC> YEAR LOSS
| Oper shr loss 20 cts vs profit 66 cts
Oper net loss 1,995,000 vs profit 5,820,000
Revs 65.2 mln vs 53.0 mln
Avg shrs 9,891,000 vs 8,811,000
Note: 1986 loss excludes extraordinary loss of 2,413,000
dlrs or 25 cts shr including corporate reorganization,
discontinuing of U.S. operations and i... | Corporate News |
HCC INDUSTRIES <HCCI> QUARTERLY DIVIDEND
| Qtly div three cts vs three cts
Pay March 27
Record March 16
| Corporate News |
SOUTHLAND <SLC> UNIT RAISES CRUDE PRICES
| Southland Corp's Citgo Petrleum Corp
said it raised the contract price it will pay for all grades of
crude oil by one dlr a barrel, effective today.
The increase brings Citgo's posted price for West Texas
Intermediate to 17.00 dlrs a bbl. West Texas Sour is also now
priced at 17.00 dlrs/bbl, and Light L... | Other |
<WESTERN SECURITY BANK> 4TH QTR NET
| Shr profit ten cts vs loss six cts
Net profit 43,000 vs loss 26,000
Year
Shr profit 46 cts vs profit 12 cts
Net profit 193,294 vs profit 51,029
Assets 44.4 mln vs 25.3 mln
Deposits 40.0 mln vs 21.4 mln
Loans 25.3 mln vs 15.2 mln
| Market and Economy |
RECENT U.S. OIL DEMAND UP 2.1 PCT FROM YEAR AGO
| U.S. oil demand as measured by
products supplied rose 2.1 pct in the four weeks ended February
27 to 16.39 mln barrels per day (bpd) from 16.05 mln in the
same period a year ago, the Energy Information Administration
(EIA) said.
In its weekly petroleum status report, the Energy
Department agency said ... | Commodities and Trade |
COFFEE PRICE DROP NOT AFFECTING COLOMBIA'S DEBT
| the sharp fall in international coffee
prices will not affect colombia's external credit situation,
finance minister cesar gaviria told reuters.
"our foreign debt is high, but we can pay, and I hope the
foreign banking community will maintain its position toward us,"
he said.
He said the current d... | Other |
USDA WOULD SCRAP COTTON, RICE, BEAN PRICE FLOORS
| The package of proposed farm policy
changes that the Reagan administration sent to Congress today
includes a provision that would eliminate minimum price support
levels for upland cotton, rice and soybeans.
The package, obtained by Reuters, also includes a
provision, outlined in advance by USDA official... | Market and Economy |
SOUTH AFRICAN FOREIGN RESERVES UP SHARPLY
| South Africa's total gold and
foreign assets rose by 700 mln rand in February to 6.2 billion
rand after rising by almost one billion rand in January,
Reserve Bank Governor Gerhard de Kock said.
De Kock, interviewed on state-run television, gave no
breakdown of the reserves.
He also said that to cu... | Corporate News |
WTC INTERNATIONAL <WAF> SETS SOUTH AFRICA TRUST
| WTC International N.V. said it
has sold its affiliates in South Africa to an independent
trust, created to continue the operations in that country.
The purchase price was about 8.4 mln dlrs, represented by a
ten-year interest-bearing note, payable annually at 11 pct, to
be paid by the trust out of proce... | Other |
IVORY COAST SAYS COFFEE PRICE FALL SHORT-LIVED
| Ivory Coast today predicted that the
present coffee price crash recorded after the collapse of the
recent International Coffee Organisation (ICO) meeting in
London would not last long.
Commenting on Monday's failure by producer and consumer
nations to agree on new export quotas needed to tighten an
ov... | Market and Economy |
TEXACO CANADA CUTS CRUDE PRICES 64 CANADIAN CTS/BBL, PAR GRADE TO 22.26 CANADIAN DLRS
|
TEXACO CANADA CUTS CRUDE PRICES 64 CANADIAN CTS/BBL, PAR GRADE TO 22.26 CANADIAN DLRS
| Other |
N.Z. CURRENT ACCOUNT DEFICIT NARROWS IN JANUARY
| New Zealand's current account deficit
narrowed to 180 mln N.Z. Dlrs in January from 203 mln, revised
from 207 mln, in December and 305 mln in January 1986, in a
smoothed measurement, the Statistics Department said.
Unsmoothed figures show a deficit of 162 mln dlrs for
January against 107 mln, revised fr... | Commodities and Trade |
REAGAN'S REMARKS HELP GOLD TO RECOVER IN HONG KONG
| Gold rose by about 50 U.S. Cents an
ounce, following a statement by President Ronald Reagan that
the arms-for-hostages deal with Iran "was a mistake," dealers
said.
Bullion rose to 409.40/90 dlrs from an initial low of
408.90/409.40. This compares with the opening of 409.00/50 and
New York's close of ... | Market and Economy |
TAIWAN ISSUES MORE CDS TO CURB MONEY SUPPLY GROWTH
| The central bank has issued 7.08 billion
dlrs worth of certificates of deposit (CDs), bringing the value
of CD issues so far this year to 93.29 billion, a bank
spokesman told Reuters.
The new CDs, with maturities of six months, one year and
two years, carry interest rates ranging from 3.9 to 5.15 pct.
... | Industrial and Sector News |
BONUS WHEAT FLOUR FOR NORTH YEMEN -- USDA
| The Commodity Credit Corporation, CCC,
has accepted an export bonus offer to cover the sale of 37,000
long tons of wheat flour to North Yemen, the U.S. Agriculture
Department said.
The wheat four is for shipment March-May and the bonus
awarded was 119.05 dlrs per tonnes and will be paid in the form
of... | Other |
UNUSUALLY DRY WEATHER AFFECTS CHINA'S AGRICULTURE
| Abnormally warm and dry weather over most
parts of China is seriously affecting crops, the New China News
Agency said.
It said the drought has made rice planting difficult in
eight provinces, including Guangxi, Sichuan and Hunan. Plant
diseases and insect pests have increased in wheat-producing
areas,... | Financial Reports |
TAIWAN SHIPBUILDER LOOKS FOR JAPANESE VENTURES
| Taiwan's state-owned China Shipbuilding
Corp (CSBC) plans to seek joint production agreements with
Japan and further diversify into ship repairing to try to trim
its debts, chairman Louis Lo said.
He told Reuters in an interview that CSBC's first joint
production venture, to build two hulls for <Onom... | Commodities and Trade |
CREDITORS SEEK SWIFT RESCUE PACKAGE FOR JAPAN LINE
| A group of creditor banks hopes to work
out a rescue package for Japan Line Ltd <JLIT.T>, one of the
world's largest tanker operators, by the end of Japan's
business year on March 31, a spokesman for the Industrial Bank
of Japan Ltd <IBJT.T> (IBJ) said.
Japan Line's cumulative debt was 68.98 billi... | Financial Reports |
AUSTRALIAN WHEAT EXPORTS RISE IN FEBRUARY
| Australian wheat shipments rose to
1.33 mln tonnes in February from 1.01 mln in January, an
Australian Wheat Board official said.
February's shipments were down on the 1.54 mln tonnes
shipped in February 1986.
Cumulative shipments for the first five months of the
October/September wheat year were ... | Other |
OPEC STICKING FIRM ON OFFICIAL PRICES - SUBROTO
| OPEC countries are all sticking firmly to
official crude oil prices but the volatility of spot prices is
likely to continue into the third quarter, Indonesian Minister
of Mines and Energy Subroto told Reuters.
Subroto, attending a Pacific Energy Cooperation conference,
blamed recent rapid spot price cha... | Financial Reports |
TEXACO CANADA <TXC> LOWERS CRUDE POSTINGS
| Texaco Canada said it lowered the
contract price it will pay for crude oil 64 Canadian cts a
barrel, effective today.
The decrease brings the company's posted price for the
benchmark grade, Edmonton/Swann Hills Light Sweet, to 22.26
Canadian dlrs a bbl.
Texaco Canada last changed its crude oil pos... | Market and Economy |
THAI COFFEE EXPORTS RISE IN 1986
| Thai coffee exports rose to 22,068
tonnes in 1986 from 20,430 a year earlier, the Customs
Department said.
| Financial Reports |
SOUTH KOREAN MONEY SUPPLY RISES IN FEBRUARY
| South Korea's M-2 money supply rose 0.39
pct to 33,992.0 billion won in February from 33,858.4 billion
in January, when it fell a revised 0.04 pct from December,
provisional Bank of Korea figures show.
The February figure was up 18.89 pct from a year earlier.
M-1 money supply rose 4.13 pct to 8,492.... | Financial Reports |
PAKISTAN'S FOREIGN EXCHANGE RESERVES FALL
| Pakistan's foreign exchange reserves
fell to 8.43 billion rupees in February from 8.96 billion in
January, compared with 12.97 billion in February 1986, the
State Bank of Pakistan said.
The bank gave no reason for the fall but local bankers said
big import bills had affected the reserves.
The Fede... | Commodities and Trade |
THAILAND REDUCES MAIN RICE CROP PROJECTION
| Thailand's main paddy crop is expected
to fall to 15.4 mln tonnes in the 1986/87 (Nov/Oct) season from
a previous 15.68 mln estimate in November and an actual 17.35
mln a year ago, the Thai Rice Mills Association said.
It said a joint field survey late last month by the
association, the Commerce Ministr... | Corporate News |
HOECHST GROUP PRE-TAX PROFIT FALLS IN 1986
| Hoechst AG <HFAG.F> said its group
pre-tax profit in 1986 would be slightly lower than the 3.16
billion marks posted in 1985, while parent company pre-tax
profits rose slightly from the 1.62 billion in 1985.
Group turnover fell slightly to 38 billion marks from 42.72
billion in 1985, and parent compa... | Other |
BHP TO FLOAT GOLD UNIT WITH ONE-FOR-THREE ISSUE
| The Broken Hill Pty Co Ltd <BRKN.S>
(BHP) said it plans a renounceable one-for-three issue of
rights to float a new company, <BHP Gold Mines Ltd> (BHPGM),
which will hold most of BHP's gold interests.
In a statement BHP said the 25-cent par rights would be
priced at 50 cents for 430 mln of the BHP... | Commodities and Trade |
HK BANK EXPECTED TO POST 10 TO 13 PCT PROFIT RISE
| The Hongkong and Shanghai Banking Corp
<HKBH.HK> is likely to show a rise in profit of between 10 and
13 pct for 1986, reflecting stronger than expected loan growth,
share analysts polled by Reuters said.
Their estimates of the bank's net earnings for last year
ranged from 2.99 to 3.1 billion H.K. Dl... | Commodities and Trade |
HUGHES TOOL DIRECTORS REJECT MERGER WITH BAKER
| The directors of Hughes Tool Co
<HT> said they would recommend to shareholders that they reject
a merger with Baker International Corp <BKO> today.
Hughes vice-president Ike Kerridge said the recommendation
would be put to shareholders at a meeting scheduled for 10 A.M.
Local time (1600 GMT) to di... | Corporate News |
CANON INC (CANN.T) YEAR ENDED DECMEBER 31
| Group shr 18.34 yen vs 58.72
Net 10.73 billion yen vs 37.06 billion
Pretax 27.76 billion yen vs 84.78 billion
Operating 30.06 billion yen vs 88.81 billion
Sales 889.22 billion vs 955.78 billion
Note - The company attributed the profit fall largely to
the yen's appreciation during the p... | Corporate News |
NEW CURRENCY PROBLEM SEEN AMONG U.S, EUROPE, JAPAN
| The highly visible drama involving the
yen's sharp rise against the U.S. Dollar is obscuring the fact
that the Japanese currency has hardly budged against major
European currencies, thus creating a new set of exchange rate
distortions, Japanese and European research officials said.
The officials, lookin... | Commodities and Trade |
THAI TIN EXPORTS RISE IN JANUARY
| Thailand exported 1,816 tonnes of tin
metal in January, up from 1,731 in December and 1,330 a year
ago, the Mineral Resources Department said.
It said major buyers last month were Singapore, Japan,
Britain, the Netherlands, Malaysia and the U.S.
| Corporate News |
USDA SAID UNLIKELY TO BROADEN CORN BONUS OFFER
| The U.S. Agriculture Department
probably will not offer a two dlr per bushel bonus payment to
corn farmers for any erodible cropland they enrolled in the
conservation reserve program last year, an aide to USDA
Secretary Richard Lyng said.
Sen. Charles Grassley (R-Iowa) said yesterday that Lyng had
ind... | Commodities and Trade |
U.K. MONEY MARKET OFFERED EARLY ASSISTANCE
| The Bank of England said it had invited
an early round of bill offers from the discount houses. The
Bank forecast the shortage in the system today at around 1.15
billion stg.
Among the main factors affecting liquidity, bills maturing
in official hands and the take-up of treasury bills will drain
some ... | Other |
BELGOLUX TRADE MOVES INTO SURPLUS IN 1986
| The Belgo-Luxembourg Economic Union
(BLEU) moved into a narrow trade surplus of 4.7 billion francs
in 1986 after a 140.4 billion franc deficit in 1985, figures
given by a spokesman for the National Statistics Institute
show.
He said imports fell last year to 3,061.8 billion francs
from 3,304.1 in 1985... | Corporate News |
SPAIN RAISES BANKS' RESERVE REQUIREMENT
| The Bank of Spain said it raised the
reserve requirement for banks and savings banks to 19 pct of
deposits from 18 pct to drain excess liquidity which threatened
money supply and inflation targets.
In a statement issued late last night, the central bank
said the measure would take effect from March 13.
... | Other |
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