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INDIAN SUGAR OUTPUT RISES IN FIRST FOUR MONTHS
| India's sugar output to January 31 in
the 1986/87 season (October/September) rose to 3.66 mln tonnes
from 3.46 mln in the same 1985/86 period, the Indian Sugar
Mills Association said.
Total offtake in the first four months of the current year
was 2.71 mln tonnes (including 241,000 tonnes imported) for
... | Financial Reports |
HOUSTON OIL TRUST <HO> OMITS MARCH DISTRIBUTION
| Houston Oil Trust said there will be no
cash distribution to the unit holders in March.
The most significant factor for the lack of a distribution
this month is the establishment of additional special cost
escrow accounts, the company said, adding, that there may be no
cash distribution in other months ... | Corporate News |
MONOCLONAL ANTIBODIES <MABS> BUYS COMPANY
| Monoclonal Antibodies Inc
said it signed an agreement in principle to buy <Genesis Labs
Inc> for about 10 mln dlrs of common stock.
The agreement is subject to shareholders approval and other
conditions.
| Financial Reports |
U.S. TREASURY PROPOSES SOME S. AFRICAN IMPORTS
| The Treasury proposed allowing
temporary imports of South African uranium ore and uranium
oxide until July 1 under certain conditions pending
clarification of anti-apartheid laws passed by Congress last
fall.
The proposal to be published in the Federal Register next
week requests written congressiona... | Financial Reports |
BRANIFF INC <BAIR> 4TH QTR LOSS JAN 31
| Shr loss 37 cts vs loss 13 cts
Net loss 4.5 mln vs loss 1.5 mln
Revs 63.3 mln vs 53.8 mln
Year
Shr loss 74 cts vs profit 1.87 dlr
Net loss 9.0 mln vs profit 23.0 mln
Revs 239.5 mln vs 244.3 mln
NOTE:1986 net includes extraordinary gain of 10.6 mln dlrs
from tax loss carryfo... | Market and Economy |
JUSTICE DEPT. SUPPORTS DISMISSAL OF TWA APPLICATION FOR USAIR CONTROL
|
JUSTICE DEPT. SUPPORTS DISMISSAL OF TWA APPLICATION FOR USAIR CONTROL
| Financial Reports |
TRANSPORTATION DEPARTMENT DISMISSES TWA APPLICATION FOR USAIR CONTROL
|
TRANSPORTATION DEPARTMENT DISMISSES TWA APPLICATION FOR USAIR CONTROL
| Financial Reports |
U.S. TREASURY PROPOSES S.AFRICAN URANIUM IMPORTS
| The U.S. Treasury proposed allowing
temporary imports of South African uranium ore and uranium
oxide until July 1 under certain conditions pending
clarification of anti-apartheid laws passed by Congress last
fall.
The Treasury said it proposed allowing the temporary
imports because it felt Congress h... | Financial Reports |
26 REPORTED DEAD IN FERRY DISASTER
| At least 26 people died when
a car ferry struck a pier as it left Belgium for Britain, a
nurse who took part in the rescue operation said.
Jan Van Moerbeke, a male nurse, said on coming off the
Herald of Free Enterprise that he had found six people on top
of the vessel who were dead. There were at least... | Financial Reports |
CONTINENTAL FEDERAL <CONF> HOLDER TO SELL STAKE
| Continental Federal Savings and
Loan Association said it was told that an estate holding 38 pct
of its stock plans to sell its stake at a premium over the
current stock price.
Continental said the estate of Harold Vernon and certain
parties have signed a letter of intent to sell the stock for
12.25 dlr... | Financial Reports |
BROKER'S CHOICE TO BUY RUBBERTECH
| Broker's Choice Capital Inc said
it signed a letter of intent to buy Rubbertech Inc.
If approved by shareholders, Broker's Choice will issue
about 71 mln shares of authorized, but unissued shares of
restricted common stock to Rubbertech Inc.
| Corporate News |
ARGENTINA UNAFFECTED BY BRAZIL'S MAIZE DECISION
| A government official said that a
decision by Brazil not to import maize because it forecast a
record harvest would not affect Argentina's exports.
"We have heard nothing about this, but if Brazil has decided
not to import maize that is no problem for us as it is not one
of our main customers," Agricult... | Financial Reports |
DOT DISMISSES TWA <TWA>, USAIR <U> APPLICATION
| The U.S. Department of Transportation
(DOT) said it dismissed on technical grounds an application by
Trans World Airlines Inc for DOT approval for it to take
control of USAir Group.
The DOT added, however, that TWA was free to refile when it
could put together an application for control that met the
a... | Financial Reports |
TWA <TWA> TO REFILE WITH U.S. AGENCY
| Transworld Airlines Inc plans to refile
an application Monday with the Department of Transportation for
approval to acquire USAir Group <U>.
The DOT late today dismissed TWA's application to acquire
USAir.
"When the DOT opens for business on Monday morning, we will
be refiling a perfected and c... | Financial Reports |
JUSTICE ASKS U.S. DISMISSAL OF TWA (TWA) FILING
| The Justice Department told the
Transportation Department it supported a request by USAir
Group that the DOT dismiss an application by Trans World
Airlines Inc for approval to take control of USAir.
"Our rationale is that we reviewed the application for
control filed by TWA with the DOT and ascertained... | Financial Reports |
HONG KONG BANKS LEAVE INTEREST RATES UNCHANGED
| The Hong Kong Association of Banks
said it decided to leave interest rates unchanged at today's
regular weekly meeting.
Current rates are 1-3/4 pct for savings accounts, 24-hours,
seven-day call, one-week and two-weeks. One-month is 2-1/4 pct,
two-months 2-1/2 pct, three- and six-months are both three p... | Corporate News |
SAVINGS ACUISITION IN CALIFORNIA ANNOUNCED
| The Federal Home Loan Bank Board
(FHLBB) announced the acquisiton of South Bay Savings & Loan
Association in Gardena, Calif., By Standard Pacific Savings of
Costa Mesa, Calif.
The FHLBB said South Bay had assets of 62.5 mln dlrs and
Standard Pacific had 312.8 mln dlrs in assets.
It was the fou... | Industrial and Sector News |
COLOMBIA DENIES SELLING COFFEE BELOW MARKET
| Colombia denied having sold 440,000 60-kg
bags of old crop coffee below current market prices to clients
in Europe and Asia.
A spokesman for the National Coffee Growers Federation,
commenting on rumours which had circulated in market circles,
said these were false.
| Financial Reports |
TWO HUNDRED FEARED DEAD IN FERRY DISASTER
| About 200 people are feared
dead after a British cross-channel ferry rolled on its side off
the Belgian coast last night -- but almost 350 passengers were
plucked to safety from the ice-cold sea.
Belgian Transport Minister Herman de Croo told reporters: "I
fear the dead could be in hundreds, perhaps 200... | Financial Reports |
MALAYSIA BAILS OUT ANOTHER COMMERCIAL BANK
| Malaysia's central bank said it
acquired a 59.2 pct stake in ailing <United Asian Bank Bhd>
(UAB), the sixth largest commercial bank in the country, to
rebuild public confidence in it.
UAB called for a rights issue last November to raise 152.49
mln ringgit to rectify its capital deficiency following ... | Corporate News |
ECUADOR ADOPTS AUSTERITY MEASURES AFTER QUAKE
| OPEC member Ecuador adopted austerity
measures to conserve fuel after oil production was paralyzed by
a strong earthquake.
Energy and Mines Minister Javier Espinosa announced on
television the country would cut domestic fuel sales by 30 pct.
A ministry statement had earlier announced indefinite
suspen... | Corporate News |
FERRY DISASTER MAY RANK AMONG WORST TRAGEDIES
| Fading hope for passengers trapped aboard
a partially-sunk Channel ferry raised fears the accident could
rank among this centuries' worst peacetime shipping tragedies.
Belgian Transport Minister Herman de Croo said there was no
hope of rescuing any of about 220 passengers trapped in the
Herald of Free E... | Financial Reports |
ALMOST 200 DEAD IN FERRY DISASTER
| There are no more survivors from a
British cross-Channel ferry disaster off the Belgian coast and
almost 200 people seem certain to have perished, a senior
Belgian official said.
Jacques Thas, in charge of rescue for the Herald of Free
Enterprise, said his men had searched all of the ship except
some ... | Financial Reports |
NEW DUTCH ADVANCES TOTAL 4.8 BILLION GUILDERS
| The Dutch Central Bank said it has
accepted bids totalling 4.8 billion guilders at tender for new
seven-day special advances at 5.3 pct covering the period March
2 to 9 aimed at relieving money market tightness.
Subscriptions to 300 mln guilders were met in full, amounts
above 300 mln at 50 pct.
T... | Financial Reports |
<SIME DARBY BHD> SIX MONTHS TO DECEMBER 31
| Shr 3.9 cents vs 4.2 cents
Interim dividend three cents vs same
Group net 35.8 mln ringgit vs 39.1 mln
Pre-tax 77.3 mln vs 99.8 mln
Turnover 1.16 billion vs 1.05 billion
Note - dividend pay May 22, register April 24.
| Financial Reports |
<CONSOLIDATED PLANTATIONS BHD>
| Six months to December 31
SHR 2.6 cents vs 5.2 cents
Interim dividend four cents vs same
Group net 12.4 mln ringgit vs 24.3 mln
Pre-tax 26.6 mln vs 53.5 mln
Turnover 235.3 mln vs 333.9 mln
Note - dividend pay April 30, register April 3.
| Financial Reports |
<TRACTORS MALAYSIA HOLDINGS BHD>
| Six months to December 31
SHR 8.8 cts vs 0.5 ct
Interim dividend 12.5 cts vs nil
Group net 9.5 mln ringgit vs 0.6 mln
Pre-tax 11 mln vs 1.1 mln
Turnover 88.9 mln vs 70.8 mln
Note - dividend pay May 15, register April 17.
| Financial Reports |
<DUNLOP MALAYSIAN INDUSTRIES BHD>
| Six months to December 31
SHR 1.4 cts vs 1.6 cts
Interim dividend one cent vs same
Group net 4.1 mln ringgit vs 4.7 mln
Pre-tax 6.7 mln vs nine mln
Turnover 100.8 mln vs 112.1 mln
Note - dividend pay April 28, register April 3.
| Corporate News |
BANGLADESH SUGAR PRODUCTION ALMOST DOUBLES
| Bangladesh's sugar production increased by
nearly 60,000 tonnes over last year's season to total 140,000
tonnes at the end of this year's season, the Sugar and Food
Industries Corp said.
The increased output will enable Bangladesh to cut imports.
Corporation officials told Reuters the country has alread... | Corporate News |
GERMAN 1988 TAX CUTS RAISED BY 5.2 BILLION MARKS
| Senior officials in the West German
coalition government said tax cuts planned for next year would
be increased by 5.2 billion marks, in line with a pledge made
by Finance Minister Gerhard Stoltenberg at last month's
international monetary conference in Paris.
Gerold Tandler, General Secretary of the Ch... | Market and Economy |
YIELD FALLS ON 30-DAY SAMA DEPOSITS
| The yield on 30-day bankers security
deposit accounts issued this week by the Saudi Arabian Monetary
Agency (SAMA) fell to 5.84073 pct from 6.21950 last Saturday,
bankers said.
SAMA increased the offer price on the 900 mln riyal issue
to 99.51563 from 99.48438. One-month interbank riyal deposits
were ... | Corporate News |
EXPERTS HAD EXPRESSED FEARS OVER RO-RO SAFETY
| As a British government investigation got
under way into the sinking of the car ferry Herald of Free
Enterprise with heavy loss of life, experts said doubts had
already been expressed about the roll-on roll-off type of ship.
Shipping minister Lord Brabazon said a preliminary
investigation had started in... | Corporate News |
JAPAN BUYS SOME 95,000 TONNES SOYBEANS FROM CHINA
| Japanese importers bought some 95,000
tonnes of Chinese soybeans late last month for May to September
shipment, under the semi-annual trade accords, trade sources
said.
The FOB premium rose to 13.50 dlrs per tonne, up 2.50 dlrs
from the premium for the November to April shipment, but down
from 13.80 f... | Corporate News |
IRAQ-TURKEY OIL PIPELINE CUT BY LANDSLIDE
| Turkey oil pipeline near the southern town of Adana after it
was cut by a landslide, the Hurriyet and Anatolian news
agencies said.
Little oil was lost in the landslide Friday night because
taps on the one mln bpd line were switched off after the
accident, they said.
The pipeline, which carries oi... | Corporate News |
BRAZIL SEAMEN CONTINUE STRIKE AFTER COURT DECISION
| Hundreds of marines were on alert
at 11 key Brazilian ports after 40,000 seamen decided to remain
on indefinite strike, even after the Higher Labour Court
yesterday ruled it illegal, union leaders said.
The halt, the first national strike by seamen in 25 years,
started on February 27, and union leaders ... | Financial Reports |
ECUADOR TO EXPORT NO OIL FOR FOUR MONTHS, OFFICIAL
| The suspension of Ecuador's crude oil
shipments after an earthquake cut an oil pipeline will last at
least four months, a senior Energy Ministry official said.
The official said Ecuador could resume exports after
repairing a 40 km section of the 510 km pipeline, which links
jungle oil fields at Lago Agr... | Other |
EC FARM LIBERALISATION SEEN HURTING THAI TAPIOCA
| Any European Community decision to
liberalise farm trade policy would hurt Thailand's tapioca
industry, said Ammar Siamwalla, an agro-economist at the
Thailand Development Research Institute (TDRI).
He told a weekend trade seminar here that any EC move to
cut tariff protection for EC grains would make m... | Corporate News |
CHINA RAISES CROP PRICES TO INCREASE OUTPUT
| China has raised the prices it pays
farmers for cotton, edible oil, sugar cane and beets to reverse
a decline in output in 1986, He Kang, Minister of Agriculture,
Animal Husbandry and Fisheries said.
The China Daily quoted He as saying China should adopt
intensive farming to increase per hectare output ... | Other |
AUSTRALIA SELLS 180,000 TONNES OF SUGAR TO USSR
| Australia sold 180,000 tonnes of raw
sugar to the Soviet Union for shipment in the next few weeks,
Queensland Primary Industries Minister Neville Harper said.
Loading of a 50,000-tonne cargo on the Soviet freighter
Nikolay Kuznetsov for shipment to Odessa was completed today at
the Lucinda terminal, he ... | Other |
THAI NATURAL RUBBER EXPORTS RISE IN 1986
| Thai natural rubber exports rose to
763,331 tonnes in 1986 from 689,964 a year earlier, the private
Board of Trade said.
Japan, the biggest buyer, imported 384,622 tonnes of Thai
rubber in 1986, up from 348,855 the previous year, it said.
Other major buyers were the U.S. At 86,383 tonnes, up from
... | Other |
AUSTRALIAN BEEF OUTPUT DECLINES IN JANUARY
| Australian beef output declined to
104,353 tonnes carcass weight in January from 112,262 in
December and 105,715 a year earlier, the Statistics Bureau
said.
This followed a decline in the cattle slaughter to 472,900
head from 509,500 in December and 478,800 in January 1986, the
bureau said.
But ... | Other |
GERMAN GOVERNMENT NEEDS SEEN RAISING BOND YIELDS
| Increased federal government borrowing
needs and a growing unwillingness by foreign investors to buy
mark assets could push yields in German public authority bonds
higher this year, bond market sources say.
"At the moment we have a sideways movement in the short-term
rates. But how rates move in the lon... | Other |
SHV SAYS IT MAKING TENDER OFFER FOR UP TO 33 MLN SHARES IN IC GAS
|
SHV SAYS IT MAKING TENDER OFFER FOR UP TO 33 MLN SHARES IN IC GAS
| Corporate News |
USSR TO CUT COAL PRICE FOR JAPANESE STEELMILLS
| The Soviet Union has agreed to cut its
coking coal export prices to Japanese steel mills by about five
dlrs a tonne in 1987/88 starting April 1 in exchange for an
increase in export volume, industry sources said.
The prices were set at 44 dlrs a tonne for Neryungrinsky
coal and at 43.80 dlrs for Kuznets... | Other |
PLACER PACIFIC HOPES FOR MISIMA GOLD APPROVAL SOON
| <Placer Pacific Ltd> said it hopes the
Papua New Guinea government will approve development of the
Misima gold project next month, following the submission of its
final environmental plan in Port Moresby today.
This completes the major documentation required to gain
official approval to proceed, Plac... | Corporate News |
BANGLADESH TRADE DEFICIT NARROWS IN OCTOBER 1986
| The Bangladesh trade deficit narrowed to
1.91 billion Taka in October from 5.64 billion in September and
2.43 billion in October 1985, the Central Bank said.
Imports dropped to 4.31 billion Taka in October from 8.22
billion in September and 4.72 billion in October 1985.
Exports totalled 2.4 billion ... | Market and Economy |
CHEUNG KONG (HOLDINGS) LTD <CKGH.HK> YEAR 1986
| Shr 3.25 H.K. Dlrs vs 1.40
Final div 52 cents vs 38, making 75 cents vs 57
Net 1.28 billion dlrs vs 551.7 mln
Note - Earnings excluded extraordinary gains of 983.6 mln
dlrs vs 81.3 mln. Bonus issue one-for-four vs nil. Share split
four-for-one. Dividend payable June 3, books close May 11-21.
... | Other |
SWISS INDUSTRIAL OUTPUT RISES IN FOURTH QQUARTER
| Swiss industrial output rose nine pct in
the fourth quarter last year after a four pct third quarter
decline, and was up three pct from the final three months of
1985, the Federal Office of Industry, Trade and Labour said.
For the full year 1986 the index, base 1963, stood at 166
after up four pct from ... | Market and Economy |
ASIAN DOLLAR ASSETS EXCEED 200 BILLION DLRS
| The Asian dollar market continued to
expand in December with total assets and liabilities rising to
200.60 billion U.S. Dlrs from 188.54 billion in November and
155.37 billion in December 1985, the Monetary Authority of
Singapore said.
It said the increase came mainly from interbank activity,
with int... | Market and Economy |
SINGAPORE M-1 MONEY SUPPLY UP 3.7 PCT IN DECEMBER
| Singapore's M-1 money supply rose 3.7
pct during December to 9.82 billion dlrs, after a 2.0 pct
increase in November, the Monetary authority of Singapore (MAS)
said.
M-1 growth for calendar 1986 was 11.8 pct compared with 4.0
pct growth over the year ending in November.
MAS said in its latest mont... | Financial Reports |
CHINESE INDUSTRIAL GROWTH RATE UP AFTER WEAK 1986
| The value of China's industrial output in
January and February this year was 14.1 pct higher than in the
same 1986 period, the New China News Agency said.
Output increased by 5.6 pct from January 1985 to January
1986 and 0.9 pct from February 1985 to 1986.
The agency said the most recent increase wa... | Other |
NEW DUTCH ADVANCES TOTAL 6.5 BILLION GUILDERS
| The Dutch central bank said it has
accepted bids totalling 6.5 billion guilders at tender for new
eleven-day special advances at 5.3 pct covering the period
March 9 to 20 aimed at relieving money market tightness.
Subscriptions to 500 mln guilders were met in full, amounts
above 500 mln at 35 pct.
... | Corporate News |
IRAN SELLING DISCOUNTED CRUDE, JAPAN TRADERS SAY
| Japanese customers have bought nearly six
mln barrels of crude oil from the National Iranian Oil Company
(NIOC) at a substantial discount to the official price, and
Western traders have received even larger discounts, Japanese
traders involved in the transactions told Reuters.
NIOC has sold its crude fo... | Other |
ICI SELLS STAKE IN LISTER AND CO
| Imperial Chemical Industries Plc <ICI.L>
said it had today placed its 19.4 pct stake in Lister and Co
Plc with L Messel and Co and that it had now been placed widely
among institutions.
Lister is a manufacturer, dyer and finisher of cotton, silk
wool and man-made fibres.
| Other |
ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 720.4 MLN DLRS IN LATEST WEEK
|
ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 720.4 MLN DLRS IN LATEST WEEK
| Other |
U.K. MONEY MARKET SHORTAGE FORECAST AT 250 MLN STG
| The Bank of England said it forecast a
shortage of around 250 mln stg in the money market today.
Among the factors affecting liquidity, it said bills
maturing in official hands and the treasury bill take-up would
drain around 1.02 billion stg while below target bankers'
balances would take out a further... | Commodities and Trade |
BANK OF FRANCE SETS MONEY MARKET TENDER
| The Bank of France said it invited offers
of first category paper today for a money market intervention
tender.
Money market dealers said conditions seemed right for the
Bank to cut its intervention rate at the tender by a quarter
percentage point to 7-3/4 pct from eight, reflecting an easing
in call ... | Market and Economy |
AMOCO REPORTS SOUTH CHINA SEA OIL FIND
| The U.S. <Amoco Petroleum Corp> has
reported an offshore oil find at its Pearl River basin
concession in the South China Sea, the New China News Agency
said.
It said the Liu Hua 11-1-1 A well produced at around 2,240
barrels per day at a depth of 305 metres.
The news agency said Amoco plans to ... | Market and Economy |
NATIONAL WESTMINSTER BANK SAYS IT CUTTING BASE LENDING RATE TO 10.5 PCT FROM 11 PCT.
|
NATIONAL WESTMINSTER BANK SAYS IT CUTTING BASE LENDING RATE TO 10.5 PCT FROM 11 PCT.
| Commodities and Trade |
NATIONAL WESTMINSTER BANK CUTS BASE RATE
| National Westminster Bank Plc said it has
cut its base lending rate 0.5 percentage points to 10.5 pct
today.
National Westminster said that it was responding to general
easing in money market rates.
Its move followed a signal from the Bank of England earlier
this afternoon that it would endorse a... | Other |
U.S. FACILITIES <USRE> SEMI-ANNUAL DIVIDEND
| Semi-annual dividend 4 cts
Pay May 29
Record April 14
Note: full name is U.S. Facilities Corp. This is first dividend
declared since company completed its initial public offering on
November 7.
| Other |
STANDARD PACIFIC <SPF> ACQUIRES SOUTH BAY S/L
| Standard Pacific LP said it
has acquired substantially all of the assets and liabilities of
South Bay Savings and Loan Association of Newport Beach.
The firm said over the weekend that it will conduct its
savings and loan activities through Standard Pacific Savings
FA, a Federal stock association.
... | Other |
U.S. TO ALLOW TEMPORARY IMPORTS OF S.A. URANIUM
| The Treasury Department said it would
temporarily permit imports of South African uranium ore and
oxide pending clarification of anti-apartheid sanctions laws
passed by Congress last fall.
The decision was announced late Friday. It applies, until
July 1, to uranium ore and oxide imported into the U.S. f... | Other |
PIEDMONT <PIE> AGREES TO USAIR <U> BUYOUT
| USAir Group Inc said Piedmont Aviation
Inc has agreed to be acquired for 69 dlrs per share.
The company, in a newspaper advertisement, said it has
started a tender offer for all Piedmont shares at that price,
and the Piedmont board, with two directors absent, has
unanimously approved the bid. The offer... | Corporate News |
API REPORTS SHARP FALL IN DRILLINGS
| Estimated oil and gas drilling
completions in the United States dropped by almost 41 per cent
in 1986 from 1985, the American Petroleum Institute said.
API, an industry group, said that of the 42,387 wells
completed last year, a total of 19,741 were oil wells, 8,645
were natural gas wells and 14,001 wer... | Market and Economy |
U.K. CREDIT BUSINESS FALLS IN JANUARY
| New credit advanced by finance houses,
retailers, bank credit cards and other specialist providers of
credit slipped to 2.66 billion stg in January from 2.78 billion
in December - but remained close to the average level for
1986's fourth quarter, the Department of Trade and Industry
said.
Of the Janua... | Corporate News |
BRAZILIAN SEAFARERS' STRIKE DAMAGES OIL EXPORTS
| A strike by Brazil's 40,000 seafarers
who want pay rises of up to 180 pct may have cost the
state-owned oil company Petrobras 20 mln dlrs in lost export
orders, the company's commercial director Arthur de Carvalho
was quoted as saying in press reports.
More than 170 ships in Brazil, and about nine more ... | Other |
OECD TRADE, GROWTH SEEN SLOWING IN 1987
| The 24 nations of the Organisation for
Economic Cooperation and Development (OECD), hampered by
sluggish industrial output and trade, face slower economic
growth, and their joint balance of payments will swing into
deficit in 1987, the Economist Intelligence Unit (EIU ) said.
The EIU said in its World T... | Corporate News |
WALLENBERGS FIGHT BID FOR SWEDISH MATCH STAKE
| Sweden's Wallenberg group fought back
a bid by the London-based Swedish financier Erik Penser to
secure a large stake in Swedish Match <SMBS ST>, one of the
companies at the core of their business empire.
A statement issued by the Wallenberg holding companies AB
Investor and Forvaltnings AB Provident... | Financial Reports |
POEHL SAYS FURTHER RATE CUT POSSIBLE - SOURCES
| Bundesbank president Karl Otto Poehl
told a closed investment symposium that West Germany could cut
leading interest rates again if the United States makes a
similar move, banking sources said.
The sources were reporting Poehl's remarks at a symposium
in Duesseldorf last week organised by Deutsche Bank ... | Industrial and Sector News |
SOSNOFF STARTS BID FOR CAESARS WORLD <CAW>
| <MTS Acquisition Corp>, a company
formed by Martin T. Sosnoff, said it has started a tender offer
for all shares of Caesars World Inc at 28 dlrs each.
In a newspaper advertisement, MTS said the offer and
withdrawal rights expire April Three unless extended.
Sosnoff, a New York investor, already o... | Corporate News |
DUTCH PLANNING AGENCY FORECASTS LOWER GROWTH
| Dutch economic growth is slowing as a
firming guilder cuts competitiveness abroad and industries
reduce the pace of investment, the Dutch official planning
agency CPB said.
The Centraal Planbureau, publishing its 1987 economic
outlook, said Dutch Net National Income (NNI) was expected to
grow by one p... | Financial Reports |
TRUMP MAKES BID FOR CONTROL OF RESORTS <RTB>
| Casino owner and real estate developer
Donald Trump has offered to acquire all Class B common shares
of Resorts International Inc, a spokesman for Trump said.
The estate of late Resorts chairman James M. Crosby owns
340,783 of the 752,297 Class B shares.
Resorts also has about 6,432,000 Class A comm... | Commodities and Trade |
IOMEGA <IOMG> SETS MANAGEMENT, LABOR LAYOFFS
| Iomega Corp said it has laid off over
a quarter of its professional and management staff and nearly
half of its direct labor force as part of a restructuring and
downsizing of its business.
The company also said it will receive a qualified opinion
from the auditors of it 1986 financial statement subject... | Other |
BRAZIL SEAMEN CONTINUE STRIKE DESPITE COURT
| Hundreds of marines were on alert
at 11 key Brazilian ports after 40,000 seamen decided to remain
on indefinite strike, even after the Higher Labour Court
Saturday ruled it illegal, union leaders said.
The halt, the first national strike by seamen in 25 years,
started on February 27, and union leaders s... | Other |
INDONESIAN SOYBEAN IMPORTS FORECAST TO RISE
| Soybean imports are forecast to rise to
425,000 tonnes in 1987/88 (October/September) from an estimated
300,000 in 1986/87 and 375,000 in 1985/86, the U.S. Embassy
said in its annual report on Indonesia's agriculture.
It said Indonesia did not achieve its goal of
self-sufficiency in soybean output in ca... | Other |
BONN SERIOUS ABOUT CURRENCY PACT, SAYS TIETMEYER
| West Germany takes "very seriously" the
recent undertaking by major industrial countries to promote
exchange rate stability around current levels, Finance Ministry
State Secretary Hans Tietmeyer said.
Talking to journalists before a meeting of European
Community Economy and Finance Ministers here, Tietm... | Commodities and Trade |
UGANDA DISAPPOINTED BY COFFEE TALKS FAILURE
| Uganda, Africa's second largest coffee
producer, was disappointed by the stalemate in recent coffee
talks in London, the chairman of the state-run Coffee Marketing
Board, CMB, said.
"This has not been good for coffee producers, more so in a
situation where the prices dropped by 200 pounds per tonne of
... | Financial Reports |
Chrysler to take over Renault stake in American Motors, says Renault
|
Chrysler to take over Renault stake in American Motors, says Renault
| Other |
ADDITIONAL CCC CREDIT GUARANTEES FOR HUNGARY
| The Commodity Credit Corporation,
CCC, has authorized an additional 8.0 mln dlrs in credit
guarantees for sales of vegetable protein meals to Hungary for
fiscal year 1987, the U.S. Agriculture Department said.
The additional guarantees increase the vegetable protein
meal credit line to 16.0 mln dlrs and... | Other |
SOUTHERN CO TO TAKE 226 MLN DLR CHARGE ON PROJECTED VOGTLE COST RISE
|
SOUTHERN CO TO TAKE 226 MLN DLR CHARGE ON PROJECTED VOGTLE COST RISE
| Other |
APPLIED CIRCUIT<ACRT> SELLS ELECTRONICS BUSINESS
| Applied Circuit Technology Inc
(ACT) said it has agreed in principal to sell its primary
computer electronics business to the <Sanpao Group> of San
Francisco.
ACT said it has not disclosed the deal's terms, but added
that 50 pct of the sale price is in cash, with the remainder to
be paid over a two... | Other |
USAIR <U> ACQUIRES 9.9 PCT OF PIEDMONT <PIE>
| USAir Group Inc said it has
acquired 2,292,599 Piedmont Aviation Inc shares, about 9.9 pct
on a fully diluted basis, from Norfolk Southern Corp <NSC>.
The acquisition of Piedmont by USAir has been approved by
the directors of both companies.
USAir said it has been advised by Norfolk Southern that... | Other |
SHV SAYS IT MAKING TENDER OFFER FOR IC GAS
| <SHV (United Kingdom) Holding Co Ltd>
said it was making a tender offer for up to 33 mln ordinary
shares in Imperial Continental Gas Association.<ICGS.L>.
It said in a statement the offer was on the basis of 700p
for each IC Gas ordinary and 252p for every one stg nominal of
IC Gas loan stock.
... | Other |
BRAZILIAN COFFEE RAINFALL
| THE FOLLOWING RAINFALL WAS RECORDED IN
THE AREAS OVER PAST 72 HOURS
PARANA STATE: UMUARAMA NIL, PARANAVAI 1.5 MILLIMETRES,
LONDRINA NIL, MARINGA NIL.
SAO PAULO STATE: PRESIDENTE PRUDENTE O.6 MM, VOTUPORANGA
12.0 MM, FRANCA 28.0 MM, CATANDUVA 10.0 MM, SAO CARLOS NIL, SAO
SIMAO NIL. REUTER11:43/VB
... | Other |
GENCORP TO SELL LOS ANGELES TELEVISION STATION TO WALT DISNEY CO
|
GENCORP TO SELL LOS ANGELES TELEVISION STATION TO WALT DISNEY CO
| Other |
NATIONWIDE CELLULAR <NCEL> COMPLETES PURCHASE
| Nationwide Cellular Service
Inc said it has completed the previously-announced acquisition
of privately-held Nova Cellular Co, a Chicago reseller of
mobile telephone service with 1,800 subscribers, for about
65,000 common shares.
Nova Cellular has an accumulated deficit of about 650,000
dlrs and had r... | Market and Economy |
NATIONAL WESTMINSTER BANK CUTS BASE RATE
| National Westminster Bank Plc said it has
cut its base lending rate 0.5 percentage points to 10.5 pct
today.
National Westminster said it was responding to general
easing in money market rates.
Its move followed a signal from the Bank of England earlier
this afternoon that it would endorse a half... | Industrial and Sector News |
U.K. MONEY MARKET GIVEN FURTHER HELP AT NEW RATES
| The Bank of England said it provided the
market with further assistance during the afternoon, buying
bills worth 166 mln stg at the lower rates introduced this
morning.
It bought 45 mln stg of local authority bills plus 27 mln
stg of bank bills in band one at 10-3/8 pct together with 94
mln stg of ban... | Corporate News |
HUTCHISON UNIT BUYS CONTAINER CRANES FROM JAPAN
| Container port operator, <Hong Kong
International Terminals Ltd>, a 89 pct held unit of Hutchison
Whampoa Ltd <HWHH.HK>, said it has placed a 164 mln H.K. Dlr
order for seven quayside container cranes of 800 tons each with
Japan's Mitsui Engineering and Shipbuilding Co Ltd <MSET.T> for
May 1988 to ... | Corporate News |
BOSPHORUS SHIPPING MOVES, ISTANBUL OFFICES CLOSE
| Istanbul remained at a virtual
standstill today under snow up to a meter deep but shipping was
moving through the narrow Bosphorus waterway linking the Sea of
Marmara and the Black Sea, officials said.
The authorities ordered government offices closed until
Wednesday. Many banks, businesses and schools ... | Corporate News |
ECUADOR TO EXPORT NO OIL FOR 4 MONTHS, OFFICIAL
| The suspension of Ecuador's crude oil
shipments after an earthquake cut an oil pipeline will last at
least four months, a senior Energy Ministry official said.
The official said Ecuador could resume exports after
repairing a 40 km section of the 510 km pipeline, which links
jungle oil fields at Lago Agr... | Industrial and Sector News |
FRENCH JAN M-3 MONEY SUPPLY ROSE PROV ADJUSTED ONE PCT (O.7 PCT FALL IN DEC) - OFFICIAL.
|
FRENCH JAN M-3 MONEY SUPPLY ROSE PROV ADJUSTED ONE PCT (O.7 PCT FALL IN DEC) - OFFICIAL.
| Other |
MALAYSIA SAYS RUBBER PACT DEPENDS ON CONSUMERS
| Malaysia said the success of talks
opening today on a new International Natural Rubber Agreement
(INRA) depends on how flexible consumer countries are.
Rubber producer and consumer countries meet for 12 days in
Geneva from tomorrow to try to hammer out a rubber pact after
they failed to reach agreement ... | Industrial and Sector News |
MCDOWELL <ME> TO MERGER WITH <INTERPHARM INC>
| McDowell Enterprises Inc said
it has signed a definitive agreement to acquire an 80 pct
interest in privately held Interpharm Inc for a 19.9 pct
interest in McDowell.
The company said subject to contigencies, including future
sales and profit levels, McDowell could over a four-year period
acquire 100 ... | Corporate News |
RENAULT, CHRYSLER IN ACCORD FOR CHRYSLER TO BUY AMC
| Regie Nationale des Usines Renault
<RENA.PA> said it and Chrysler Corp <C> have signed a letter of
intent in which Chrysler plans to buy American Motors Corp
<AMO.N>, 46 pct owned by Renault.
Renault President Raymond Levy said in a statement issued
by the French state car group the agreement w... | Corporate News |
HOG AND CATTLE SLAUGHTER GUESSTIMATES
| Chicago Mercantile Exchange floor
traders and commission house representatives are guesstimating
today's hog slaughter at about 285,000 to 300,000 head versus
292,000 week ago and 309,000 a year ago.
Cattle slaughter is guesstimated at about 125,000 to
131,000 head versus 129,000 week ago and 119,000 a ... | Corporate News |
Bank of France said it cut money market intervention rate to 7-3/4 pct from eight pct
|
Bank of France said it cut money market intervention rate to 7-3/4 pct from eight pct
| Other |
FIRST BOSTON AFFILIATE TO ACQUIRE ALLEGHENY INT'L FOR 24.60 DLRS/SHR
|
FIRST BOSTON AFFILIATE TO ACQUIRE ALLEGHENY INT'L FOR 24.60 DLRS/SHR
| Commodities and Trade |
SOUTHERN <SO> TO TAKE CHARGE ON VOGTLE COST
| Southern Co said it will take an
after-tax charge of 226 mln dlrs against earnings no later than
January 1988 because the projected cost of the Vogtle nuclear
power plant has risen abover the amount which retail customers
in Georgia will be asked to pay.
The company's largest subsidiary, Georgia Power C... | Other |
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