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INDIA AND JAPAN TO DISCUSS IRON ORE PRICES
| The state-owned Minerals and Metals
Trading Corp will send a team to Japan next week to negotiate
an iron ore export contract for 1987/88 beginning April 1,
trade sources said.
Japan, the biggest buyer of Indian iron ore with imports of
around 23 mln tonnes a year, has asked India to reduce prices
fro... | Corporate News |
MARATHON PETROLEUM REDUCES CRUDE POSTINGS
| Marathon Petroleum Co said it reduced
the contract price it will pay for all grades of crude oil one
dlr a barrel, effective today.
The decrease brings Marathon's posted price for both West
Texas Intermediate and West Texas Sour to 16.50 dlrs a bbl. The
South Louisiana Sweet grade of crude was reduced t... | Market and Economy |
TAIWAN FOREIGN EXCHANGE RESERVES HIT NEW HIGH
| Taiwan's foreign exchange reserves hit a
new high of more than 51 billion U.S. Dlrs on March 4, compared
with 50 billion in mid-February and 25.1 billion a year
earlier, the central bank said.
Bank governor Chang Chi-Cheng told reporters the increase
came mainly from the bank's purchases of more than on... | Financial Reports |
BELGIAN ECU COIN ISSUE PRICED, SALE DATE SET
| A limited Belgian issue of silver Ecu
coins with a face value of five Ecus will go on sale from March
23 at a price of 500 Belgian francs each, a Finance Ministry
spokesman said.
Gold Ecu coins with a face value of 50 Ecus will be sold
from the same day. The spokesman told Reuters the price for
these ... | Commodities and Trade |
U.K. MONEY MARKET GIVEN 17 MLN STG EARLY HELP
| The Bank of England said it provided just
17 mln stg assistance to the money market in response to an
early round of bill offers.
Earlier, the Bank had estimated the shortage in the system
today at around 1.15 billion stg.
The central bank purchased bills for resale to the market
on April 2 at an ... | Corporate News |
FIRS SLIGHTLY RAISES EC BEET SUGAR OUTPUT ESTIMATE
| The French sugar market intervention
board, FIRS, raised its estimate of 1986/87 beet sugar
production in the 12-member European Community to 13.76 mln
tonnes white equivalent in its end-February report from 13.74
mln a month earlier.
Its forecast for total EC sugar production, including cane
and mola... | Financial Reports |
PAPUA NEW GUINEA PLANS RESOURCES INVESTMENT AGENCY
| The Papua New Guinea Government
will establish a public corporation to invest in resources
projects, Minerals and Energy Minister John Kaputin said.
"We intend to provide a means through which less privileged
individuals can become part owners and beneficiaries from the
development of mining and petrole... | Financial Reports |
NIGERIAN CURRENCY FIRMS AT LATEST AUCTION
| The Nigerian naira firmed 2.6 pct against
the dollar after 17 banks were disqualified from bidding at
today's weekly foreign exchange auction, the central bank said.
The naira finished at 3.8050 to the dollar, against 3.9050 last
week.
Only 38.39 mln dlrs of the 50 mln dlrs on offer was sold,
with all... | Financial Reports |
U.S. TELLS JAPAN TO DO MORE TO CUT TRADE SURPLUS
| U.S. Undersecretary of State for Economic
Affairs Allen Wallis said he had urged Japan to do much more to
reduce its large trade surplus with the United States.
"Our central message to Japan this week was that while we
have made progress in some areas, much needs to be done," he
told a press conference ... | Commodities and Trade |
TAIWAN BUYS 60,000 TONNES OF U.S. MAIZE
| The joint committee of Taiwan's maize
importers has awarded contracts to two U.S. Companies to supply
two shipments of maize, totalling 60,000 tonnes, a committee
spokesman told Reuters.
Continental Grain Co of New York received the first 30,000
tonne cargo contract, priced at 93.86 U.S. Dlrs per tonne,... | Other |
GERMAN ECONOMIC OUTLOOK SEEN FAIRLY BRIGHT
| The outlook for the West
German economy is relatively bright, with gross national
product expected to expand by three pct this year, Kiel
University's Institute for World Economy said.
The GNP forecast by the institute, one of five leading
economic research bodies in West Germany, is more optimistic
t... | Other |
<GEORGE WESTON LTD> YEAR NET
| Shr 2.31 dlrs vs 1.96 dlrs
Net 119.0 mln vs 101.0 mln
Revs 10.03 billion vs 8.88 billion
| Other |
CREDITOR BANKS MAY BUY INTO SINGAPORE COFFEE FIRM
| The nine creditor banks of the
Singapore coffee trader <Teck Hock and Co (Pte) Ltd> are
thinking of buying a controlling stake in the company
themselves, a creditor bank official said.
Since last December the banks have been allowing the
company to postpone loan repayments while they try to find an
... | Corporate News |
U.K. 4TH QTR TRADE DEFICIT 2.6 BILLION STG, CURRENT ACCOUNT DEFICIT 760 MLN - OFFICIAL
|
U.K. 4TH QTR TRADE DEFICIT 2.6 BILLION STG, CURRENT ACCOUNT DEFICIT 760 MLN - OFFICIAL
| Commodities and Trade |
ECONOMIC SPOTLIGHT - POLISH SANCTIONS
| Poland says U.S. Sanctions have cost its
economy 15 billion dlrs and has made clear it wants Washington
to take a lead in repairing the damage after lifting remaining
restrictions two weeks ago.
Polish officials are unable to provide a precise breakdown
of the figure, saying it takes into account a numb... | Corporate News |
U.K. FOURTH QUARTER TRADE DEFICIT 2.6 BILLION STG
| Britain had a visible trade deficit of
2.6 billion stg in the fourth quarter of 1986 against a revised
deficit of 2.9 billion in the third quarter, official
statistics show.
Seasonally-adjusted figures issued by the Central
Statistical Office (CSO) show the current account was in
deficit by 760 mln st... | Industrial and Sector News |
BELGIAN WHOLESALE PRICES FALL IN JANUARY
| Belgian wholesale prices fell by 5.9
pct in January from a year earlier after a 5.7 pct year on year
fall in December, figures from the economics ministry show.
A ministry spokesman said the wholesale price index, base
1953 and excluding value added tax, stood at 250.9 in January.
This compared with 251... | Corporate News |
CARGILL U.K. STRIKE TALKS POSTPONED TILL MONDAY
| Talks set for today between management
and unions to try to solve the labour dispute at Cargill U.K.
Ltd's Seaforth oilseed crushing plant have been rescheduled for
Monday, a company spokesman said.
Oilseed processing at the mill has been at a standstill
since December 19.
| Commodities and Trade |
FRENCH INTERVENTION RATE CUT LIKELY, DEALERS SAY
| The Bank of France is likely to cut its
money market intervention rate by up to a quarter point at the
start of next week. This follows a steady decline in the call
money rate over the past 10 days and signals from the Finance
Ministry that the time is ripe for a fall, dealers said.
The call money rate... | Commodities and Trade |
RELIEF TO U.S. CORN/OATS GROWERS SAID LIKELY
| U.S. farmers who in the past have
grown oats for their own use but failed to certify to the
government that they had done so probably will be allowed to
continue planting that crop and be eligible for corn program
benefits, an aide to Agriculture Secretary Richard Lyng said.
Currently a farmer, to be el... | Market and Economy |
U.K. GRAIN/POTATO FUTURES VOLUME DOWN IN FEBRUARY
| Traded volumes for U.K. Grain and potato
futures in February were down on the previous month while
pigmeat and pig cash settlement futures were higher, official
figures show.
Combined wheat and barley futures trade declined to 892,700
tonnes from 1.19 mln in January, and the value fell to 97 mln
stg f... | Other |
BUNDESBANK LEAVES CREDIT POLICIES UNCHANGED
| The Bundesbank left credit policies
unchanged after today's regular meeting of its council, a
spokesman said in answer to enquiries.
The West German discount rate remains at 3.0 pct, and the
Lombard emergency financing rate at 5.0 pct.
| Corporate News |
TURKEY TO IMPORT 100,000 TONNES OF CRYSTAL SUGAR
| Turkey has announced a tender to import
100,000 tonnes of white crystal sugar with an advertisement in
local newspapers.
Turkish Sugar Factories said in the advertisement there was
a 50 pct option to increase or decrease the amount and bids
should reach it before March 24.
The semi-official Anatol... | Financial Reports |
U.K. MONEY MARKET GIVEN FURTHER SMALL ASSISTANCE
| The Bank of England said it provided the
money market with a further 20 mln stg of assistance during the
morning. It again bought bills for resale to the market on
April 2 at a rate of 10-15/16 pct. Earlier this morning, it
bought 17 mln stg of bills at the same rate and for resale on
the same date.
T... | Financial Reports |
N.Z. MONEY SUPPLY RISES 3.6 PCT IN DECEMBER
| New Zealand's broadly defined,
seasonally adjusted M-3 money supply grew an estimated 3.6 pct
in December after rising a revised 2.4 pct in November and 4.04
pct in December last year, the Reserve Bank said in a
statement.
It said unadjusted M-3 increased to an estimated 30.07
billion N.Z. Dlrs from a... | Corporate News |
ICE UNCHANGED AT SOVIET OIL PORT OF VENTSPILS
| Ice conditions are unchanged at the
Soviet Baltic oil port of Ventspils, with continuous and
compacted drift ice 15 to 30 cms thick, the latest report of
the Finnish Board of Navigation said.
Icebreaker assistance to reach Ventspils harbour is needed
for normal steel vessels without special reinforcemen... | Industrial and Sector News |
SWISS OFFERS NEW SERIES OF MONEY MARKET PAPER
| The Swiss Finance Ministry is inviting
tenders for a new series of three-month money market
certificates to raise about 150 mln Swiss francs, the Swiss
National Bank said.
Bids would be due on March 10 and payment on March 12.
The last issue of three-month paper conducted on February
12 yielded 2.... | Industrial and Sector News |
EGYPTIAN CENTRAL BANK DOLLAR RATE UNCHANGED
| Egypt's Central Bank today set the dollar
rate for commercial banks for March 6 at 1.373/87 dollars,
unchanged from the previous rate.
| Industrial and Sector News |
BAKER INTERNATIONAL CORP SUES HUGHES TOOL SEEKING MERGER COMPLETION
|
BAKER INTERNATIONAL CORP SUES HUGHES TOOL SEEKING MERGER COMPLETION
| Other |
USAIR GROUP REJECTS TRANS WORLD AIRLINES TAKEOVER BID
|
USAIR GROUP REJECTS TRANS WORLD AIRLINES TAKEOVER BID
| Commodities and Trade |
CIRCUIT SYSTEMS <CSYI> BUYS BOARD MAKER
| Circuit Systems Inc said it has
bought all of the stock of (Ionic Industries Inc) in exchange
for 3,677,272 shares of its common.
Following the exchange there will be 4,969,643 shares of
Circuit Systems stock outstanding. Ionic holders will own about
74 pct of the outstanding stock of Circuit Systems, i... | Other |
EARLY MARCH OPEC OUTPUT SEEN WELL BELOW CEILING
| OPEC crude oil output in the first few
days of March was running at about 14.7 mln bpd, down from a 16
mln bpd average for February and well below the 15.8 mln bpd
ceiling the group adopted in December, a Reuter survey shows.
The figures were polled by Reuters correspondents from oil
traders, industry e... | Other |
BAKER <BKO> SUES TO FORCE HUGHES <HT> MERGER
| Baker International corp said it has
filed suit in state court in Houston to compel Hughes Tool Co
to complete its proposed merger with Baker.
Late yesterday, Hughes said it had terminated the merger
agreement because Baker would not agree to an alternative
divestiture plan devised by Hughes. Hughes' b... | Financial Reports |
SPAIN DEREGULATES BANK DEPOSIT INTEREST RATES
| Spain's Finance Ministry deregulated bank
deposit rates in an effort to raise competition among banks and
bring legislation into line with the European Community (EC), a
ministry spokesman said.
The measure was published today in the Official State
Gazette. It takes effect tomorrow and lifts restriction... | Financial Reports |
USAIR <U> REJECTS TWA <TWA> TAKEOVER BID
| USAir Group Inc said its board has
rejected Trans World Airlines Inc's offer to acquire USAir for
52 dlrs per share in cash as grossly in adequate and not in the
best interests of USAir shareholders, employees or passengers.
The company said the unsolicited bid by the Carl C.
Icahn-led TWA was "highly c... | Corporate News |
FALLING SOYBEAN CRUSH RATIOS CUT OUTPUT
| The sharp decline in soybean crush ratios
seen in the last few weeks, accelerating in recent days, has
pushed margins below the cost of production at most soybean
processing plants and prompted many to cut output of soybean
meal and oil.
The weekly U.S. soybean crush rate was reported by the
National ... | Financial Reports |
U.S. FIRST TIME JOBLESS CLAIMS FALL IN WEEK
| New applications for unemployment
insurance benefits fell to a seasonally adjusted 332,900 in the
week ended Feb 21 from 368,400 in the prior week, the Labor
Department said.
The number of people actually receiving benefits under
regular state programs totaled 3,014,400 in the week ended Feb
14, the l... | Financial Reports |
JAGUAR SEES STRONG GROWTH IN NEW MODEL SALES
| Jaguar Plc <JAGR.L> is about to sell its
new XJ-6 model on the U.S. And Japanese markets and expects a
strong reception based on its success in the U.K., Chairman Sir
John Egan told a news conference.
Commenting on an 11 pct growth in 1986 group turnover to
830.4 mln stg and pre-tax profits at 120.8 ... | Financial Reports |
CCC ACCEPTS BONUS BID ON WHEAT FLOUR TO IRAQ
| The Commodity Credit Corporation,
CCC, has accepted bids for export bonuses to cover sales of
25,000 tonnes of wheat flour to Iraq, the U.S. Agriculture
Department said.
The department said the bonuses awarded averaged 116.84
dlrs per tonne.
The shipment periods are March 15-April 20 (12,500 tonne... | Corporate News |
DIAMOND SHAMROCK RAISES CRUDE POSTED PRICES ONE DLR, EFFECTIVE MARCH 4, WTI NOW 17.00 DLRS/BBL
|
DIAMOND SHAMROCK RAISES CRUDE POSTED PRICES ONE DLR, EFFECTIVE MARCH 4, WTI NOW 17.00 DLRS/BBL
| Financial Reports |
NORD RESOURCES CORP <NRD> 4TH QTR NET
| Shr 19 cts vs 13 cts
Net 2,656,000 vs 1,712,000
Revs 15.4 mln vs 9,443,000
Avg shrs 14.1 mln vs 12.6 mln
Year
Shr 98 cts vs 77 cts
Net 13.8 mln vs 8,928,000
Revs 58.8 mln vs 48.5 mln
Avg shrs 14.0 mln vs 11.6 mln
NOTE: Shr figures adjusted for 3-for-2 split paid F... | Corporate News |
NO QUAKE DAMAGE AT CHUQUICAMATA - MINE SPOKESMAN
| The earthquake which hit northern Chile
today, registering 7.0 on the open-ended Richter scale, caused
no damage to the copper mine at Chuquicamata, a mine spokesman
said.
Chuquicamata public relations director Guillermo Barcelo
told Reuters by telephone from the mine that the quake had
caused no prob... | Financial Reports |
ORBIT INCREASES OIL AND GAS RESERVE VALUES
| <Orbit Oil and Gas Ltd> said
the value of its oil and gas reserves increased by 19 pct to
52.6 mln dlrs from 44.2 mln dlrs reported at year-end 1985,
according to an independent appraisal.
Orbit said it has reserves of 2.4 mln barrels of oil and
natural gas liquids and 67.2 billion cubic feet of natu... | Financial Reports |
CCC ACCEPTS BONUS BID ON SEMOLINA TO EGYPT
| The Commodity Credit Corporation,
CCC, has accepted a bid for an export bonus to cover a sale of
2,000 tonnes of semolina to Egypt, the U.S. Agriculture
Department said.
The department said the bonus was 233.91 dlrs per tonne and
was made to International Multifoods Corp. The bonus will be
paid in the... | Corporate News |
MAIL BOXES ETC <MAIL> 3RD QTR JAN 31 NET
| Shr 23 cts vs 18 cts
Net 509,144 vs 277,834
Revs 2,258,341 vs 1,328,634
Avg shrs 2,177,553 vs 1,564,605
Nine mths
Shr 55 cts vs 42 cts
Net 1,150,633 vs 649,914
Revs 6,169,168 vs 3,178,115
| Other |
FIVE GROUPS APPLY TO BUY FRENCH TELEPHONE GROUP
| Five consortia have applied to buy the
French state-owned telephone equipment manufacturer <Cie
Generale de Constructions Telephoniques (CGCT)>, which will
give the owners control of 16 pct of the French telephone
switching market, sources close to Finance Minister Edouard
Balladur said.
The French... | Other |
BLIZZARD CLOSES BOSPHORUS
| Blizzard conditions halted shipping
through the Bosphorus waterway and piled snow up to 70 cms deep
in central Istanbul, paralysing the city for the second day
running.
Snow whipped by 48 kph winds continued to fall on Istanbul
and northwest Anatolia after 36 hours and weather reports
predicted no rel... | Other |
JAPAN FUND <JPN> SEEKERS CONFIDENT OF FINANCING
| The <Sterling Grace Capital Management
L.P.> group said it is confident financing can be arranged if
The Japan Fund's board recommend's the group's acquisition
proposal.
The group, which also includes <Anglo American Security
Fund L.P.> and T.B. Pickens III, Tuesday proposed an entity it
control... | Corporate News |
PEGASUS GOLD INC <PGULF> 3RD QTR DEC 31 NET
| Shr profit 20 cts vs loss two cts
Net profit 2,665,000 vs loss 202,000
Revs 12,141,000 vs 5,993,000
Nine mths
Shr profit 35 cts vs loss 11 cts
Net profit 4,653,000 vs loss 1,167,000
Revs 35.1 mln vs 18.0 mln
| Financial Reports |
MUNSINGWEAR INC <MUN> 4TH QTR JAN 3 LOSS
| Shr loss 32 cts vs loss seven cts
Net loss 1,566,000 vs loss 292,000
Revs 39.4 mln vs 34.7 mln
Year
Shr profit 79 cts vs profit 74 cts
Net profit 3,651,000 vs profit 3,020,000
Revs 147.9 mln vs 114.2 mln
Avg shrs 4,639,000 vs 4,059,000
Note: Per shr adjusted for 3-for-2... | Corporate News |
<KELTIC INC> YEAR NET
| Shr 99 cts vs 1.25 dlrs
Net 418,733 vs 235,572
Revs 2,777,425 vs 2,024,116
Note: 1986 shr after November, 1986 600,000 class A
subordinate floating share issue
| Financial Reports |
U.K. MONEY MARKET GIVEN HELP, OFFERED FACILITIES
| The Bank of England said it had given the
money market 206 mln stg of assistance this afternoon and
offered the discount houses borrowing facilities to take out
the rest of the 1.10 billion stg shortage, revised down from an
initial 1.15 billion estimate.
It made no alteration to its established dealing... | Financial Reports |
E.F. HUTTON <EFH> STARTS PUROLATOR <PCC> BID
| E.F. Hutton Group Inc said it has
started its previously announced offer to purchase up to
6,332,471 common shares of Purolator Courier Corp at 35 dlrs
each.
In a newspaper advertisement, the company said the offer,
proration period and withdrfawal rights will expire April One
unless extended. The of... | Financial Reports |
YEUTTER PUTS CURRENCY BURDEN ON TAIWAN, KOREA
| Responsibility for the appreciation of
the Taiwan dollar and the South Korean Won lies soley with
those countries, said U.S. trade representative Clayton Yeutter
Speaking to the Asia Society, Yeutter said that it is in
those countries' own long-term interest to raise the value of
their currencies agains... | Industrial and Sector News |
PRINCEVILLE DEVELOPMENT CORP <PVDC> YEAR LOSS
| Shr diluted loss 31 cts vs profit 17 cts
Net loss 2,806,005 vs profit 1,513,395
Revs 15.0 mln vs 10.4 mln
Avg shrs diluted 8,982,754 vs 8,804,899
NOTE: Current year includes loss of 3.4 mln dlrs from
takeover defense expenses. Also includes losses of 1.8 mln dlrs
vs 332,000 dlrs from equit... | Financial Reports |
ORANGE-CO <OJ> HOLDER RAISES STAKE
| Orange-Co Inc said its
largest shareholder, <Summit Resoureces Inc>, has increased its
stake to 15 pct from 14 pct and now owns 644,727 shares.
| Financial Reports |
HORIZON CORP <HZN> 4TH QTR NET
| Oper shr profit 1.66 dlrs vs loss eight cts
Oper net profit 12.0 mln vs loss 572,000
Revs 27.4 mln vs 4,311,000
Year
Oper shr profit 1.36 dlrs vs loss 43 cts
Oper net profit 9,817,000 vs loss 2,433,000
Revs 35.0 mln vs 13.8 mln
Avg shrs 7,224,000 vs 6,731,000
NOTE: 1985... | Industrial and Sector News |
<INTERNATIONAL THOMSON ORGANISATION LTD> YEAR
| Shr 33p vs 38p
Net 97 mln vs 111 mln
Revs 1.71 billion vs 1.76 billion
NOTE: Figures in sterling.
Share results after deducting preferred share dividends of
one mln pounds sterling in 1986.
| Financial Reports |
FED DATA SUGGEST STABLE U.S. MONETARY POLICY
| Latest Federal Reserve data suggest that
the central bank voted to maintain the existing degree of
pressure on banking reserves at its regular policy-making
meeting two weeks ago, money market economists said.
"The numbers were a little disappointing, but I think we
can take Mr Volcker at his word when ... | Corporate News |
EQUATORIAL COMMUNICATIONS CO <EQUA> 4TH QTR LOSS
| Shr loss 3.84 dlrs vs nil
Net loss 56,879,000 vs profit 23,000
Rev 10.3 mln vs 17.7 mln
Year
Shr loss 4.60 dlrs vs profit 14 cts
Net loss 67,818,000 vs profit 1,807,000
Rev 50.9 mln vs 56.1 mln
Avg shares 14,734,000 vs 12,801,000
NOTE: Fourth qtr net includes a one-time... | Commodities and Trade |
INTERNATIONAL THOMSON ORGANISATION LTD YEAR SHR 33P VS 38P
|
INTERNATIONAL THOMSON ORGANISATION LTD YEAR SHR 33P VS 38P
| Other |
TRIMEDYNE <TMED> TO SPIN OFF STAKE IN UNIT
| Trimedyne Inc said it will
distribute one Class B common share of <Automedix Sciences Inc>
for each four Trimedyne shares held of record on March Nine.
The company said in the spinoff it is distributing its
entire 44 pct interesdt in Automedix. The spun-off stock will
not be saleable for 13 months, ... | Financial Reports |
CASEY'S GENERAL STORES INC <CASY> 3RD QTR JAN 31
| Shr 16 cts vs 13 cts
Net 1,900,000 vs 1,600,000
Sales 68.2 mln vs 69.6 mln
Nine mths
Shr 60 cts vs 43 cts
Net 7,100,000 vs 4,700,000
Sales 214.0 mln vs 219.5 mln
| Financial Reports |
FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED
| French operators have requested licences
to export 40,000 tonnes of free market feed wheat, 32,500
tonnes of soft bread wheat, 375,000 tonnes of barley and
465,000 tonnes of maize at today's European Community tender,
trade sources here said.
Rebates requested ranged between 134 and 136.50 European
cu... | Financial Reports |
DIAMOND SHAMROCK <DIA> RAISES CRUDE OIL POSTINGS
| Diamond Shamrock said it raised its
posted prices for all grades of crude oil one dlr a barrel,
effective yesterday.
The one dlr increase brings West Texas Intermediate, WTI
the U.S. benchmark crude, to 17.00 dlrs a bbl, the company
said.
Diamond Shamrock joined Sun Co, Coastal, Citgo and Murphy
... | Financial Reports |
OAK HILL SPORTSWEAR CORP <OHSC> 4TH QTR NET
| Shr 27 cts vs 28 cts
Net 1,026,000 vs 1,025,000
Sales 27.8 mln vs 25.4 mln
Year
Shr 95 cts vs 16 cts
Net 3,682,000 vs 598,000
Sales 102.1 mln vs 100.4 mln
Avg shrs 3,858,000 vs 3,700,000
| Financial Reports |
OAK INDUSTRIES INC <OAK> 4TH QTR LOSS
| Oper shr loss five cts vs loss 50 cts
Oper net loss 3,862,000 vs loss 15,900,000
Sales 42.6 mln vs 38.8 mln
Avg shr 72.1 mln vs 31.7 mln
Year
Oper shr loss 51 cts vs loss 2.10 dlrs
Oper net loss 30.3 mln vs 51.3 mln
Sales 151.7 mln vs 153.1 mln
Avg shrs 59.4 mln vs 24.4... | Financial Reports |
REGIS CORP <RGIS> REGULAR DIVIDEND SET
| Qtly div 4-1/2 cts vs 4-1/2 cts prior
Pay April 15
Record March 24
| Financial Reports |
MANNESMANN SEEKS STAKE IN U.S. FIRM
| Mannesmann AG <MMWG.F>, the
diversified engineering and pipe-making group, is interested in
taking a stake in a U.S. Company or companies but has not yet
found a suitable firm, a spokesman said in reply to questions.
Mannesmann managing board chairman Werner Dieter told the
business weekly Wirtschaft... | Corporate News |
AMERICAN INT'L GROUP INC <AIG> 4TH QTR NET
| Shr 1.83 dlrs vs 77 cts
Net 296.6 mln vs 120.1 mln
Year
Shr 4.90 dlrs vs 2.76 dlrs
Net 795.8 mln vs 420.5 mln
NOTE: Includes gains of 139.2 mln vs 46.8 mln in year and
94.0 mln vs 11.6 mln from capital gains from investments.
| Financial Reports |
SYSTEMS FOR HEALTH CARE IN ONE-FOR-50 SPLIT
| Systems for Health Care Inc said it
repositioned the company through a one-for-50 reverse stock
split.
It said there are now 3,002,500 common shares outstanding
with a quoted price of about 7/8 bid, compared to 150,125,000
shares outstanding prior to the split.
In another recent development, Syste... | Financial Reports |
ROYAL DUTCH/SHELL U.S. EARNINGS SHARPLY LOWER
| Royal Dutch/Shell Group <RD.AS> earnings
for 1986 from the U.S. Fell sharply because of difficult market
conditions, lower crude and gas prices and also due to
different accounting methods, Shell chairman Peter Holmes said.
The Shell Oil dollar net income fell 47 pct in the year,
while the additional... | Financial Reports |
BANKERS WELCOME SPANISH RESERVE REQUIREMENT HIKE
| Bankers welcomed the Bank of Spain's
decision to raise the reserve requirement for banks and savings
banks, saying it reflected the socialist government's
determination not to ease up in the fight against inflation
despite the painful social effects of four years of austerity.
The central bank last nigh... | Financial Reports |
GAMBRO AB <GAMB ST> 1986 YEAR
| 133.5 mln crowns vs 101 mln.
Sales 1.61 billion vs 1.51 billion.
Proposed dividend 0.80 crowns vs 0.40 crowns.
| Corporate News |
TRANSPORTATION AGENCY GIVES FINAL OKAY FOR US AIR PACIFIC SOUTHWEST ACQUISITION
|
TRANSPORTATION AGENCY GIVES FINAL OKAY FOR US AIR PACIFIC SOUTHWEST ACQUISITION
| Corporate News |
S AFRICA MINE MANAGERS FACE CHARGES IN DISASTER
| Seven managers and employees at
General Mining Union Corp Ltd's Kinross Mines Ltd will face
charges of culpable homicide following last year's disaster
when 177 gold miners died, the Attorney General's Office said.
The mineworkers were killed last September at Kinross when
a fire set off toxic fumes whi... | Corporate News |
WESTERN CANADA HURT BY INTERNATIONAL FORCES
| Western Canada's resource-based economy
is being hurt by international market forces and there is
little Ottawa can do about it, Finance Minister Michael Wilson
said.
"If you can tell me how we can get the international energy
price up and how we can get the price for copper up and how we
can get the ... | Financial Reports |
AMERICAN SOFTWARE <AMSWA> SETS STOCK SPLIT
| American Software Inc said its board
declared a three-for-two stock split on Class A and Class B
common shares, payable March 31, record March 16.
The company said it expects to increase its semiannual
dividend 12.5 pct to six cts per share post-split from eight
cts pre-split.
| Corporate News |
COMDATA <CDN> IN MERGER AGREEMENT
| Comdata Network Inc said
it has entered into a letter of intent with a limited
partnership managed by Welsh, Carson, Anderson and Stowe (WCAS)
to merge Comdata into a corproration to be formed by WCAS.
Comdata said in the merger each share of the company's
stock would be converted at the holders electio... | Financial Reports |
SOYBEAN GROUP HEAD URGES USDA ACTION ON LOAN
| The Agriculture Department must make
a decision soon on how to change the current U.S. soybean loan
or more soybeans will continue to be forfeited to the
government and foreign soybean production will increase, the
president of the American Soybean Association, ASA, said.
"The USDA will have to bite the... | Commodities and Trade |
<WAJAX LTD> YEAR NET
| Shr 78 cts vs 1.16 dlrs
Net 6.7 mln vs 9.5 mln
Revs 278 mln vs 290 mln
| Corporate News |
FRANCE FACES PRESSUE TO CHANGE POLICIES
| France's right wing government is facing
growing pressure to modify its economic policies after revising
down its 1987 growth targets and revising up its inflation
forecasts for this year.
Moving reluctantly into line with most private sector
forecasts the government yesterday raised its 1987 inflation
... | Financial Reports |
AMERICAN SOFTWARE INC <AMSWA> 3RD QTR JAN 31 NET
| Shr 42 cts vs 19 cts
Net 2,903,000 vs 1,307,000
Revs 13.1 mln vs 8,937,000
Avg shrs 6,877,360 vs 6,874,970
Nine mths
Shr 98 cts vs 62 cts
Net 6,740,000 vs 4,085,000
Revs 33.9 mln vs 27.8 mln
Avg shrs 6,875,706 vs 6,605,879
| Financial Reports |
NO SOVIET WHEAT BONUS TALK PLANNED FOR MEETING
| U.S. Agriculture Secretary Richard
Lyng does not intend to discuss a wheat export enhancement
initiative to the Soviet Union at a cabinet-level Economic
Policy Council meeting set for tomorrow, an aide to Lyng said.
"He (Lyng) does not intend to bring it up," the aide said,
adding that the subsidy offer... | Financial Reports |
BANKAMERICA <BAC> TO SELL GERMAN BANKING UNIT
| BankAmerica Corp said it agreed to
sell <Bankhaus Centrale Credit AG>, its German consumer banking
subsidiary, and German credit card operations to <Banco de
Santander> of Spain.
Terms were not disclosed. The deal is expected to close in
the second quarter, the bank holding company said.
Ban... | Corporate News |
French official reserves 375.95 billion francs end Jan (421.00 billion end Dec) - official
|
French official reserves 375.95 billion francs end Jan (421.00 billion end Dec) - official
| Other |
COPLEY PROPERTIES INC <COP> 4TH QTR NET
| Shr 30 cts vs 36 cts
Net 1,211,000 vs 1,428,000
Revs 1,536,000 vs 1,743,000
Year
Shr 1.36 dlrs vs 62 cts
Net 5,438,000 vs 2,498,000
Revs 6,567,000 vs 2,971,000
NOTE: Company began operations after its July 29, 1985
public offering, therefore annual data are not directly
c... | Commodities and Trade |
GTI CORP <GTI> 4TH QTR OPER NET
| Oper shr profit six cts vs loss two cts
Oper net profit 225,000 vs loss 91,000
Revs 4,814,000 vs 3,339,000
Year
Oper shr profit 12 cts vs loss two cts
Oper net profit 415,000 vs loss 73,000
Revs 16.4 mln vs 16.9 mln
Note: data does not include from discontinued operations,
... | Financial Reports |
UNITIL CORP <UTL> 4TH QTR NET
| Shr 79 cts vs 72 cts
Net 581,915 vs 536,040
Revs 13.9 mln vs 13.3 mln
Year
Shr 3.28 dlrs vs 3.21 dlrs
Net 2,413,407 vs 2,360,048
Revs 54.9 mln vs 54.2 mln
| Corporate News |
RYDER <RDR> BUYS BRITISH CALEDONIAN UNIT
| Ryder System Inc said it has acquired
Caledonian Airmotive Ltd from <British Caledonian Group PLC>
for undisclosed terms.
Caledonian Airmotive repairs and rebuilds aircraft engines.
| Commodities and Trade |
TRELLEBORG TAKE LARGER SLICE OF BOLIDEN
| Swedish tyres, process equipment and
components firm <Trelleborg AB> said it was taking a larger
stake in mining and metals concern Boliden AB <BLDS.ST> than it
had originally intended.
Trelleborg had previously announced it was exercising an
option to acquire up to 65 pct of Boliden's voting righ... | Industrial and Sector News |
POLAROID <PRD> UP ON REAFFIRMED OPINION
| Shares of Polaroid Corp rose following
a reiterated recommendation by Merrill Lynch and Co that
focused on strong earnings momentum for the company, traders
said.
"We have been recommending the stock since it was in the
50s, but we reiterated today because of expectations of strong
earnings momentum, ... | Other |
SWEDISH MATCH AB <SMBS.ST> 1986 YEAR
| Profit after net financial items
500 mln crowns vs 359 mln
Sales 10.90 billion crowns vs 10.72 billion
Proposed dividend 12.50 crowns vs 10.50 crowns
| Market and Economy |
HOUSTON OIL <HO> RESERVES STUDY COMPLETED
| Houston Oil Trust said that independent
petroleum engineers completed an annual study that estimates
the trust's future net revenues from total proved reserves at
88 mln dlrs and its discounted present value of the reserves at
64 mln dlrs.
Based on the estimate, the trust said there may be no money
av... | Corporate News |
FRENCH OFFICIAL RESERVES FALL SHARPLY IN JANUARY
| French official reserves fell 45.06
billion francs to 375.95 billion at the end of January from
421.00 billion at the end of December, the Finance Ministry
said in a statement.
It said the fall was largely due to sales of foreign
currency that preceded the January 11 realignment of the
European Moneta... | Financial Reports |
SL INDUSTRIES INC <SL> 2ND QTR JAN 31 NET
| Oper shr 22 cts vs 20 cts
Oper net 1,153,000 vs 1,068,000
Revs 15.7 mln vs 15.8 mln
Six mths
Oper shr 38 cts vs 38 cts
Oper net 2,039,000 vs 2,051,000
Revs 31.4 mln vs 31.6 mln
NOTE: exlcudes 145,000 discontinued operations for 1986
oper net for six mths for sale of electro... | Industrial and Sector News |
GENERAL REFRACTORIES <GRX> TO SELL OPERATIONS
| General Refractories Co said it
agreed to sell its European refractories and building products
operations for about 62 mln dlrs to an Austrian investor group.
The European operations had sales of 186 mln dlrs in 1985,
the last year for which results have been released, the company
said.
The sale, ... | Commodities and Trade |
BRAZIL HAS NO SET COFFEE EXPORT TARGETS - IBC
| Brazil has no set target for
its coffee exports following this week's breakdown of
International Coffee Organization talks on export quotas,
President of the Brazilian Coffee Institute, IBC, Jorio Dauster
said.
He told a press conference Brazil now had to reconsider its
export plans and that the 15.5 ... | Corporate News |
PEPSICO <PEP> UPGRADED BY KIDDER PEABODY
| Kidder Peabody and Co analyst Roy Burry
issued a strong buy recommendation on Pepsico Inc, citing an
improved profit outlook for both domestic soft drinks and
Frito-Lay snack foods.
Pepsico climbed 7/8 to 34-3/4 on 615,000 shares by
midmorning.
Burry forecast earnings of 2.00 dlrs per share in 198... | Commodities and Trade |
SHAD SEES PROGRESS ON INSIDER TRADING
| Securities and Exchange Commission
chairman John Shad said progress was being made in stopping
insider trading, but the chairman of a House subcommittee with
jurisdiction over securities laws said he was concerned about
conditions on Wall Street.
"Greed has created a feeding frenzy on Wall Street and in... | Financial Reports |
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