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DIAMOND SHAMROCK OFFSHORE <DSP> IN FIND
| Diamond Shamrock Offshore Partners said
it has started development drilling on West Cameron 178 block
off Louisiana in the Gulf of Mexico after a significant natural
gas find on the block.
It said the discovery well there encountered 46 feet of net
natural gas pay. No flow tests have been conducted, it ... | Commodities and Trade |
U.S. LEAD INVENTORIES RISE IN FEBRUARY - ABMS
| Lead stocks held by U.S. refiners rose
to 37,295 short tons at the end of February from 34,224 short
tons (revised higher) at the end of January, the American
Bureau of Metal Statistics reported.
Production of lead decreased to 33,619 short tons in
February from 38,759 short tons in January.
Shipm... | Other |
<SHARON STEEL CORP> EXTENDS EXCHANGE OFFER
| Sharon Steel Corp said it extended
from March six to March 31 the expiration date for its debt
exchange offer to allow time to complete the sale of its
Mueller Brass Co unit and to meet other conditions of the
offer.
The exchange offer covers Sharon's outstanding 13.5 pct
subordinated sinking fund deb... | Other |
FERRY DISASTER CLAIMS COULD TOP 30 MLN STG
| U.K. Insurers could face more than 30 mln
stg of insurance claims following the Zeebrugge ferry disaster,
a spokesman for Lloyds of London said.
It could take weeks before the extent of the compensation
claims for passengers, crew and cargo was known and also before
it was known how much, if any, of the... | Corporate News |
CITIBANK FOLLOWS U.K. BASE RATE CUT TO 10.5 PCT
| <Citibank NA> said it has cut its British
base lending rate to 10.5 pct from 11 pct, with effect from
tomorrow.
This move follows similar cuts by four major British
clearing banks, led by National Westminster Bank Plc <NWBL.L>.
Lower rates were signalled by the Bank of England this
morning i... | Other |
JAPAN TO PROMOTE INTEREST RATE LIBERALISATION
| The Bank of Japan decided at a policy
board meeting to promote further interest rate liberalisation
by lowering the minimum denomination of regulation-free large
deposits and by raising the interest rate ceiling on money
market certificates (MMCs), a central bank official said.
The new guideline will go... | Corporate News |
BANK OF ZAMBIA PAYS OUT FOREIGN CURRENCY ARREARS
| The Bank of Zambia has paid out foreign
exchange arrears from three auctions conducted last year, a
bank spokesman said.
"We have now cleared three auctions and are left with only
four, worth eight mln dlrs," the spokesman said without
specifying the amount paid out.
The bank had not paid foreign ... | Corporate News |
INVESTORS HAVE 5.5 PCT OF DATAREX SYSTEMS <DRX>
| A small investor group led by Melvyn
Gelch, a Providence, R.I., surgeon, told the Securities and
Exchange Commission it has acquired 60,840 shares of Datarex
Systems Inc, or 5.5 pct of the total outstanding common stock.
The Gelch group said it bought the stake for about 935,000
dlrs for investment purp... | Corporate News |
GHANA COCOA PURCHASES FALL, CUMULATIVE STILL UP
| The Ghana Cocoa Board said it purchased
1,323 tonnes of cocoa in the 21st week, ended February 26, of
the 1986/87 main crop season, compared with 1,961 tonnes the
previous week and 1,344 tonnes in the 21st week ended March six
of the 1985/86 season, the board said.
Cumulative purchases so far this seaso... | Financial Reports |
EC SUGAR IMPORT LEVIES
| The following import levies for white
and raw sugar are effective tomorrow, in European currency
units (ecu) per 100 kilos.
White sugar, denatured and non-denatured 49.70 versus 50.05
previously.
Raw sugar, denatured and non-denatured 41.35 versus 41.35
previously.
The rate for raws is based... | Financial Reports |
INVESTOR HAS TECHNOLOGY DEVELOPMENT <TDCX> STAKE
| Leon Greenblatt, a Chicago investor,
told the Securities and Exchange Commission he has acquired
89,450 shares of Technology Development Corp, or 5.3 pct of the
total outstanding common stock.
Greenblatt said he bought the stock for 350,000 dlrs soley
as an investment and has no intention of seeking con... | Financial Reports |
TAIWAN POWER FIRM PLANS MORE FOREIGN DEBT CUTS
| State-owned (Taiwan Power co) will boost
its domestic borrowings to further cut its foreign debt in line
with a government policy to trim the island's huge foreign
exchange reserves, a company official said.
The company's foreign debt, mainly from the Japanese and
U.S. Banks, was cut nearly by half to 6... | Commodities and Trade |
ANALYST SAYS DART GROUP LIKELY BIDDER FOR SUPERMARKETS GENERAL
|
ANALYST SAYS DART GROUP LIKELY BIDDER FOR SUPERMARKETS GENERAL
| Commodities and Trade |
HARRIS CUTS CYCLOPS <CYL> STAKE TO 11.1 PCT
| Harris Associates L.P., a Chicago
investment advisory firm, said it cut its stake in Cyclops Corp
to 437,425 shares, or 11.1 pct of the total outstanding common
stock, from 524,775 shares, or 13.3 pct.
In a filing with the Securities and Exchange Commission,
Harris said it sold 87,350 Cyclops common sha... | Corporate News |
CHRYSLER <C> VALUES AMC <AMO> AT 757 MLN DLRS
| Chrysler Corp said it valued its
proposed buyout of American Motors Corp at 757 mln dlrs, not
counting the effect of a contingent payment that could reach
350 mln dlrs based on AMC's future profits.
A Chrysler spokesman told Reuters that the letter of intent
signed with Renault, AMC's controlling shareh... | Corporate News |
DART SAID LIKELY SUPERMARKETS GENERAL SUITOR
| Dart Group <DARTA> is likely seeking to
buy Supermarkets General <SGL>, analysts said.
"There's been rumors that they've taken a position in the
company, said Wood Gundie analyst Edward Comeau.
Last year, Dart Group, owner of Auto Trak INc and Crown
Books, competed against Kohlberg, Kravis to ... | Financial Reports |
ADVO-SYSTEM INC <ADVO> SEES BREAK-EVEN 2ND QTR
| ADVO-System Inc said it could
report a break even second quarter ending March 28, 1987
compared with a loss of 1.8 mln dlrs, or 16 cts a share, in
fiscal 1986's second quarter ended March 29, 1986.
ADVO said it previously announced it would report a net
loss for the quarter.
| Corporate News |
FED WATCHERS SEE U.S. ECONOMIC, INFLATION UPTURN
| This year will see a pickup in U.S.
economic growth and inflation, the Shadow Open Market Committee
said in its semi-annual policy statement.
The SOMC, a group of basically "monetarist" private
economists, said that "economic growth will accelerate in 1987
in response to powerful stimulative actions by ... | Commodities and Trade |
CANADIAN PACIFIC LTD 4TH QTR OPER NET 30 CTS VS 20 CTS
|
CANADIAN PACIFIC LTD 4TH QTR OPER NET 30 CTS VS 20 CTS
| Financial Reports |
DUTCH CURRENT ACCOUNT SURPLUS FALLS IN 1986
| The Dutch current account surplus fell
5.4 billion guilders last year to a provisional 12.1 billion
guilders, the Finance Ministry said in a statement.
The surplus is expected to fall further in 1987, the
statement said, but gave no details. Earlier today, the
official planning agency CPB said it expect... | Corporate News |
GRANDVIEW ACQUIRES CONTROL OF U.K. TICKET GROUP
| Consolidated Grandview Inc said it
acquired a 60 pct stake in <All Ticket Group PLC>, of London,
for undisclosed terms. The seller was also undisclosed.
All Ticket is a special events travel company with
exclusive European rights to UAL Inc <UAL>'s United Airlines
Apollo system, booking all United... | Financial Reports |
UNITED CITIES <UCIT> MAKES ACQUISITION
| United Cities Gas Co said it
has acquired Lyle Propane Gas Co, a Cairo, Ga., propane gas
distributor, for undisclosed terms.
It said Lyle has sales of about four mln gallons annually
and serves about 4,000 customers in seven counties in southwest
Georgia and north Florida.
| Corporate News |
U.S. BILL AUCTIONS SEEN AT 5.63-65, 5.59-61 PCT
| The U.S. Treasury's weekly auction is
expected to produce an average rate of 5.63-65 pct for
three-month bills and one of 5.59-61 pct for six-month bills,
dealers said.
Shortly before auction time on the new bills, the rate on
the outstanding three-month bills was unchanged at 5.64 pct
bid, while the ... | Corporate News |
MEDICAL PROPERTIES <MPP> SETS MONTHLY DIVIDEND
| The board of Medical Properties
Inc said it has declared an initial monthly cash dividend of
11-1/2 cts a share and has adopted a monthly dividend policy.
The initial dividend will be payable April 10 to
shareholders of record March 31.
| Financial Reports |
LONDON GRAIN FREIGHTS
| wheat Ria Luna 20,000 mt
Norrkoping and Djuron/EC Mexico 12.50 dlrs option loading
Uddevalla at 50 cents less 4,000/1,500 16-23/3 Continental.
Reference New York Grain Freights 2 of March 6, brokers say
the charterer of the Saturn from US Gulf to Japan is reported
to be Nordstrom and Thulin, while the A... | Corporate News |
IMMUCOR <BLUD> SPLITS STOCK
| Immucor Inc said its board of
directors has declared a five-for-four stock split in the form
of a 25 pct stock dividend payable April 15 to shareholders of
record March 27.
| Corporate News |
BERMUDA STAR LINE <BSL> TO MAKE ACQUISITION
| Bermuda Star Line Inc said it has
agreed in principle to acquire 815-passenger SS Liberte from
Barnstead Shipping Ltd for use in its New York/Montreal
"Northeast Passages" cruises, starting this summer.
The company said it is working to conclude a lease
financing or other financing for the purchase of t... | Financial Reports |
TALKING POINT/CAESARS WORLD <CAW>
| <MTS Acquisition Corp's>
28-dlr-per-share offering price for Caesars World Inc is
thought to be much too low and is likely to attract other
suitors for the hotel/casino company, industry analysts said.
"I think someone else will probably come in, or they (MTS)
will have to raise their bid," said Marv... | Corporate News |
ALLEGHENY <AG> OFFICERS TO RUN COMPANY
| Allegheny International Inc said its
chairman and chief operating officer will remain in their
positions following the merger of the company with an affiliate
of First Boston Corp.
"It is expected that Oliver S. Travers will continue as
chairman, president and Chief executive officer, and Thomas J.
Alb... | Financial Reports |
IC GAS MAKES NO RECOMMENDATION ON TRACTEBEL OFFER
| Imperial Continental Gas Association
<ICGS.L>, IC Gas, said its board is not making a recommendation
on the partial tender offfer at 710p per share announced by
<Tractebel SA> and <Groupe Bruxelles Lambert SA>.
At the same time, however, the board would not recommend a
general offer for all the... | Financial Reports |
NAT'L HEALTHCARE <NHCI> TO SELL FIVE HOSPITALS
| National Heathcare Inc said it
signed an agreement to sell five rural hospitals to a private
corporation for about 18 mln dlrs, including the assumption of
six mln dlrs of debt.
The company said it plans to complete the sales, which are
subject to various regulatory approvals, by the end of July.
... | Financial Reports |
USX <X> CHAIRMAN CALLS FOR LOWER DOLLAR
| USX Corp chairman David Roderick called
for a lower value for the U.S. dollar against other currencies
to help speed a correction in the U.S. trade deficit, which
last year reached 170 billion dlrs.
In remarks prepared for a speech before the Economic Club
of Detroit, Roderick said, "There should be tot... | Financial Reports |
CANADIAN PACIFIC (CP) CONFIRMS EARNINGS
| Canadian Pacific Ltd said fourth
quarter 1986 operating profit rose to 91.6 mln dlrs, or 30 cts
a share, from 50.7 mln dlrs, or 20 cts a share, a year ago.
The statement confirmed released preliminary earnings
figures the company released in February.
A 102.6 mln dlr gain on the sale of CP's Cominco... | Other |
DUTCH ANIMAL FEED USAGE DOWN IN FIRST HALF SEASON
| Dutch animal feed usage in the first
half of the current season from July through December 1986 fell
7.6 pct to 6.5 mln tonnes from 7.1 mln in the same period of
1985, figures in the latest newsletter from the co-operative
Cebeco-Handelsraad show.
Tapioca usage fell 9.1 pct to 1.4 mln tonnes from 1.6 ml... | Commodities and Trade |
FORD <F> SHARES RISE ON HIGHER EARNING ESTIMATE
| Ford Motor Co's stock rose 1-1/4 to
82-1/4 after analyst Maryann Keller of Furman Selz Mager Dietz
and Birney raised earnings estimates on the company, traders
said.
Keller said that she expects the company's 1987 earnings to
rise to between 13.50-to-14 dlrs a share as compared to 12.32
dlrs a share e... | Financial Reports |
ITALY SHOWS INTEREST IN U.K. NEW CROP WHEAT
| Italy has shown interest in British new
crop wheat recently but the actual volume booked so far by
Italian buyers has not been large, traders said.
They put purchases at around 50,000 tonnes for Sept/Dec
shipments but said some of the business was transacted at the
start of the year.
Italian inter... | Commodities and Trade |
DUTCH RETAILER AHOLD SEES UNCHANGED 1987 PROFIT
| Dutch food retailer Ahold
NV <AHLN.AS> expects unchanged profits in 1987 but said it will
take advantage of the lower dollar to expand further in the
U.S.
Turnover will grow but net profits are expected to remain
around the 1986 level of 132.4 mln guilders due to higher Dutch
taxes and a three-year... | Financial Reports |
PITT-DES MOINES <PDM> GETS QUALIFIED AUDIT
| Pitt-Des Moines Inc said it will
receive a qualified opinion from auditors on its 1986 and 1985
financial statements.
It said the qualification related to its inability to
determine the effects, if any, of the final resolution of a
suit filed against it by <Washington Public Power Supply
System>. ... | Other |
READING <RDGC> TO SELL PHILADELPHIA PROPERTIES
| Reading Co said it has agreed in
principle to convey properties it owns in and around the
Philadelphia Convention Center site to the city of Philadelphia
and the Philadelphia Convention Center Authority.
It said in exchange it will receive about 23 mln dlrs in
cash, rights to acquire 22 acres adjacent t... | Commodities and Trade |
MONTEDISON ACQUIRES ARCO RESEARCH UNIT
| Montedison SpA <MONI.MI> has acquired a 70
pct stake in <Plant Cell Research Institute - PCRI> of
California from Atlantic Richfield Co <ARC.N> for "several tens
of millions of dollars," a senior Montedison executive said.
Renato Ugo, a member of Montedison's management committee,
told reporter... | Corporate News |
LMFE TO CONCENTRATE ON CASH SETTLED CONTRACTS
| The London Meat Futures Exchange, LMFE,
will cease trading in its deliverable pigmeat contract from
April 3, the LMFE said.
The move will enable the exchange to concentrate on the
cash settled contracts introduced last year.
"This allows the exchange and its members to concentrate our
marketing on... | Corporate News |
CBT TRADERS SEE LOWER SOYBEAN EXPORT INSPECTIONS
| The USDA's weekly export inspection
report is expected to show a decline in soybean exports and
steady to slightly lower corn and wheat exports, according to
CBT floor traders' forecasts.
Traders projected soybean exports at 15 mln to 16 mln
bushels, down from 20.3 mln bushels a week ago and 25.5 mln
... | Financial Reports |
PRIMARY EUROSTERLING MARKET BOOMS DESPITE RATE CUT
| Two new eurosterling bonds were launched
today, making a total of 10 new deals in the sector so far this
month, as borrowers rush to cash in on a bull sterling market
fueled by the strength of the pound and pre-budget euphoria.
The Bank of England finally gave way to a 1/2 point cut in
banks' base lendi... | Corporate News |
EUROPE SHIPPING EXPORTS TO S AFRICA OFF 40 PCT
| The volume of European exports to
South Africa carried by container line vessels has declined 40
pct in the last two years, British shipping executive Antony
Butterwick said.
Butterwick told reporters that despite the drop and low
freight rates, the shipping conference he heads will increase
the frequ... | Commodities and Trade |
MATHEMATICAL APPLICATIONS SETS OPERATIONS SALE
| Mathematical Applications Group
Inc said it has signed a letter of intent to sell all of its
operating business and will propose a plan of liquidation
following the sale.
If the company is unsuccessful in obtaining the approvals
needed for the sale and liquidation, it said, the company may
be required... | Commodities and Trade |
FINANCIAL CORP <FIN> UNIT COMPLETES PURCHASE
| Financial Corp of America's
American Savings and Loan Association said it completed the
previously announced purchase of 16 retail savings branches
from Great Western Financial Corp's <GWF> Great Western
Savings.
American Savings said the purchases boost its deposits by
about 550 mln dlrs, but do n... | Commodities and Trade |
CENTRAL BANKERS SATISFIED WITH PARIS ACCORD
| Central bankers said they
were generally satisfied with the response to the Paris accord
two weeks ago to stabilize currencies at around current levels.
Speaking after a meeting at the Bank for International
Settlements (BIS), which reviewed the agreement, they also
welcomed interest rates cuts in Franc... | Financial Reports |
JOHNSON PRODUCTS <JPC> SELLS TWO SUBSIDIARIES
| Johnson Products Co Inc said it
completed the sale of Debbie's School of Beauty Culture Inc and
the assets of Ultra Precise Beauty Boutique Inc to management.
It said the sale price of 2,533,000 dlrs consisted of
700,000 dlrs cash, a secured promissory note for 1,506,000 dlrs
and the forgiveness of a de... | Financial Reports |
USAIR <U> SEEKS TWO BILLION LOAN FOR TAKEOVERS
| USAir Group Inc said it seeking two
billion dlrs in bank debt to complete its takeover of Piedmont
Aviation Inc <PIE> and its pending acquisition of PS Group
Inc's Pacific Southwest Airlines.
In a filing with the Securities and Exchange Commission
that details its proposed 69 dlr a share cash tender ... | Financial Reports |
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 18,616 WHEAT 16,760 CORN 25,193
|
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 18,616 WHEAT 16,760 CORN 25,193
| Corporate News |
U.K. CONFIRMS JANUARY STERLING M3 RISE
| The Bank of England said the broad
measure of U.K. Money supply, Sterling M3, rose a seasonally
adjusted 1.1 pct in January after a 0.2 pct rise in December.
The unadjusted year-on-year rise was 17.6 pct after 18.1
pct in the year to December.
The narrow measure of money supply, M0, fell by a
seas... | Corporate News |
JANNOCK ACQUIRES 50 PCT OF INTERCON SECURITY
| <Jannock Ltd> said it acquired a 50 pct
interest in Intercon Security Ltd for five mln dlrs and
Intercon founders Brian Legge and Richard Grange will hold the
remaining 50 pct and will continue to manage the company.
Intercon Security, employing 850 people, provides a full
range of security equipment... | Financial Reports |
CANADIAN OIL COMPANIES RAISE CRUDE PRICES
| Petro-Canada, the state-owned oil
company, said it raised the contract price it will pay for
crude oil 64 Canadian cts a barrel, effective March six.
Petro-Canada's posted price for the benchmark light sweet
grade, Edmonton/Swann Hills at 40 api gravity, now stands at
21.95 Canadian dlrs/bbl. Their ligh... | Commodities and Trade |
DART GROUP SAID IT OFFERS TO BUY SUPERMARKETS GENERAL AT 41.75 DLRS/SHR
|
DART GROUP SAID IT OFFERS TO BUY SUPERMARKETS GENERAL AT 41.75 DLRS/SHR
| Financial Reports |
FINAL 50/50 CORN CERTS SEEN AT 1.6 BILLION DLRS
| The Agriculture Department will have
to release an estimated 1.6 billion dlrs worth of in-kind
certificates, or certs, to corn farmers this fall if USDA
decides to maintain an equal split of total 1986 feedgrain
deficiency payments in cash and certs, USDA officials said.
Final 1986 crop deficiency payme... | Financial Reports |
BCI HOLDINGS TO SELL BOTTLED WATER DIVISION
| <BCI Holdings Corp> said its <Beatrice
U.S. Food Corp> retained Shearson Lehman Brothers Inc to assist
in the sale of its national bottled water business.
It said products of the subsidiary, based in Monterey Park,
Calif., are sold under the Arrowhead brand name in California
and Arizona, the Oza... | Financial Reports |
EXCO BUYS U.S. GOVERNMENT SECURITIES BROKER
| <Exco International Plc>, a subsidiary of
British and Commonwealth Shipping Co Plc <BCOM.L>, said it had
agreed in principle to buy an 80 pct stake in <RMJ Holdings
Corp> for about 79 mln dlrs.
Exco Chairman Richard Lacy told Reuters the acquisition was
being made from Bank of New York Co Inc &... | Commodities and Trade |
LCE AND IPE ELECT FIRST TRADED OPTIONS MEMBERS
| The first 23 members have been elected to
the joint traded options facility of the London Commodity
Exchange (LCE) and the International Petroleum exchange (IPE),
the exchanges said in a statement.
More firms have applied and the final tranche will be
admitted on April one and trading is planned to star... | Financial Reports |
USDA ESTIMATES 1986/87 USSR GRAIN IMPORTS 26.0 MLN TONNES VS 23.0 IN FEB, 29.9 IN 1985/86
|
USDA ESTIMATES 1986/87 USSR GRAIN IMPORTS 26.0 MLN TONNES VS 23.0 IN FEB, 29.9 IN 1985/86
| Financial Reports |
USDA ESTIMATES 1986 SOVIET GRAIN CROP AT 210 MLN TONNES VS 210 IN FEB, 192 YEAR-AGO
|
USDA ESTIMATES 1986 SOVIET GRAIN CROP AT 210 MLN TONNES VS 210 IN FEB, 192 YEAR-AGO
| Financial Reports |
DART <DARTA> MAKES OFFER FOR SUPERMARKETS <SGL>
| Dart Group Corp said it offered to
buy Supermarkets General Corp for 41.75 dlrs per share in cash.
Earlier Supermarkets General said an "unsolicited third
party" had made the offer. Analysts estimated the value at
about 1.6 billion dlrs, based on 38.5 mln shares outstanding.
Kidder, Peabody and Co I... | Corporate News |
USDA ESTIMATES SOVIET WHEAT, COARSE GRAINS
| The U.S. Agriculture Department
forecast the Soviet 1986/87 wheat crop at 92.30 mln tonnes, vs
92.30 mln tonnes last month. It put the 1985/86 crop at 78.10
mln tonnes, vs 78.10 mln tonnes last month.
Soviet 1986/87 coarse grain production is estimated at
103.30 mln tonnes, vs 103.30 mln tonnes last mon... | Other |
USDA ORANGE JUICE YIELD ESTIMATE
| The U.S. Agriculture Department
projected an average yield of 1.47 gallons of frozen
concentrated orange juice per box (42.0 degree brix equivalent)
from Florida's 1986/87 crop.
That compares with 1.46 gallons per box previously and 1.38
gallons per box from the 1985/86 crop.
The crop reporting bo... | Commodities and Trade |
USDA WINTER/SPRING POTATO ESTIMATES
| The U.S. Agriculture Department
estimated 1987 winter potato production, based on March 1
conditions, at 2,788,000 cwts (100 lbs), vs 2,764,000 cwts
indicated last month and 2,991,000 cwts last year.
The department estimated winter potato area for harvest at
11,900 acres, vs 11,900 acres last month and ... | Commodities and Trade |
MEATPACKERS STRIKE MORRELL SIOUX CITY PLANT
| About 800 members of the United Food and
Commercial Workers Union, UFCWU, struck John Morrell's Sioux
City, Iowa, pork processing plant at midnight Sunday, a
spokesman for the UFCWU national said.
Meatpackers at the plant have been working without a
contract since the old pact expired January 31, UFCWU ... | Financial Reports |
PAKISTAN TO TENDER FOR RBD PALM OIL
| Pakistan will hold an import tender
tomorrow for 6,000 tonnes of refined bleached deodorised palm
oil for second half March shipments, traders said.
| Commodities and Trade |
CAESARS WORLD <CAW> BID VALUED AT 907 MLN DLRS
| MTS Acquisition Corp said it will need
about 907 mln dlrs to acquire the 31,781,461 Caesars World Inc
shares not owned by its owner, Martin T. Sosnoff.
The estimate came in MTS Acquisition's proxy statement to
Caesars World shareholders describing its offer of 28 dlrs a
share for their stock which was a... | Commodities and Trade |
CAROLIN MINES HAS NEW GOLD ASSAY RESULTS
| Carolin Mines Ltd
said recent assays of tailings at its Hope, British Columbia
mine ranged from 0.50 to 0.64 ounces of gold per ton.
There were only trace amounts of platinum and palladium,
the company said.
Carolin said the results sharply disagreed with an earlier
assay performed by Intergold U... | Financial Reports |
CCC WHEAT CREDIT GUARANTEES FOR NORTH YEMEN
| The Commodity Credit Corporation,
CCC, has authorized 25.0 mln dlrs in credit guarantees to North
Yemen to cover purchases of U.S. wheat under the Intermediate
Export Credit Guarantee Program (GSM-103), the U.S. Agriculture
Department said.
Under the program credit terms extended must be in excess
of ... | Financial Reports |
CCC ACCEPTS EXPORT BONUS BARLEY MALT TO NIGERIA
| The Commodity Credit Corporation,
CCC, has accepted one bonus offer from an exporter on the sale
of 4,400 tonnes of barley malt to Nigeria, the U.S. Agriculture
Department said.
The department said the bonus awarded was 100.00 dlrs per
tonne and was made to Rahr Malting Co and will be paid in the
form... | Financial Reports |
CAROLIN MINES <CRLNF> HAS NEW ASSAY RESULTS
| Carolin Mines Ltd
said recent assays of tailings at its Hope, British Columbia
mine indicated that ounces of gold per ton ranged from 0.64 to
0.50.
There were only trace amounts of platinum and palladium,
the company said.
Carolin said the results sharply disagreed with an earlier
assay performe... | Financial Reports |
SEAMAN'S STRIKE CONTINUES, MARINES UNLOAD SHIPS
| Brazilian marines were today
working on the unloading of ships at the local port as a
national strike by 40,000 seamen entered its 10th day without
signs of an agreement.
The halt, the first national strike by seamen in 25 years,
started on February 27, and union leaders said they would not
return to ... | Commodities and Trade |
USDA RAISES SOVIET GRAIN IMPORT ESTIMATE
| The U.S. Agriculture Department
increased its estimate of Soviet 1986/87 grain imports to 26
mln tonnes from last month's projection of 23 mln tonnes.
In its monthly USSR Grain Situation and Outlook, USDA said
the increase reflected the return of the Soviet Union to the
U.S. corn market and continued pu... | Financial Reports |
ECUADOR QUAKE TO CUT OIL REVENUES 800 MLN DLRS
| up to 300 people were feared dead and more
than 15,000 people left homeless by thursday's earthquake,
which will cost Ecuador close to 800 mln dlrs in lost petroleum
revenues, authorities said.
They estimated the cost of repairing a damaged oil pipeline
at 150 mln dlrs.
"the magnitude of the damag... | Financial Reports |
BUSINESS EDITOR THEODORE CROSS OFFERS 34 DLRS SHARE FOR HARPER AND ROW
|
BUSINESS EDITOR THEODORE CROSS OFFERS 34 DLRS SHARE FOR HARPER AND ROW
| Corporate News |
USDA ESTIMATES CANADIAN CROPS
| The U.S. Agriculture Department
estimated Canada's 1986/87 wheat crop at 31.85 mln tonnes, vs
31.85 mln tonnes last month. It estimated 1985/86 output at
24.25 mln tonnes, vs 24.25 mln last month.
Canadian 1986/87 coarse grain production is projected at
27.62 mln tonnes, vs 27.62 mln tonnes last month. ... | Financial Reports |
USDA ESTIMATES AUSTRALIA WHEAT CROP
| The U.S. Agriculture Department
forecast Australia's 1986/87 wheat crop at 17.30 mln tonnes, vs
17.50 mln tonnes last month. It estimated 1985/86 output at
16.13 mln tonnes, vs 16.13 mln last month.
Australian wheat exports in 1986/87 are forecast at 14.50
mln tonnes, vs 15.00 mln tonnes last month, whi... | Commodities and Trade |
BUSINESS EDITOR OFFERS 34 DLRS FOR HARPER <HPR>
| Theodore Cross, editor of Business
and Society Review, a business publication, said an investor
group he heads has offered to buy Harper and Row Publishers Inc
for 34 dlrs a share cash.
In a filing with the Securities and Exchange Commission,
Cross said he proposed the takeover to the board of the New
... | Financial Reports |
FRANCE TO REQUEST PERMANENT MAIZE REBATES
| French maize producers will ask the EC
Commission to grant permanent maize export rebates following
the recent EC/U.S. Accord guaranteeing the U.S. An annual
export quota of two mln tonnes of maize for Spain over four
years, the French maize producers association, AGPM, said.
The Commission has already ... | Financial Reports |
U.S. PAYMENTS GAP TO PERSIST, EX-FED CHIEF SAYS
| The dollar will decline over the next
two to three years, but this is unlikely to result in a
complete reduction of the U.S. current account deficit, said
Anthony Solomon, chairman of S.G. Warburg (USA) Inc and former
president of the Federal Reserve Bank of New York.
In a presentation to the Japan Soci... | Financial Reports |
CCC ACCEPTS EXPORT BONUS DAIRY CATTLE TO MOROCCO
| The Commodity Credit Corporation,
CCC, has accepted a bonus offer from an exporter on the sale of
13 head of dairy cattle to Morocco, the U.S. Agriculture
Department said.
The department said the bonus awarded was 1,505.00 dlrs per
head and was made to Brown Swiss Enterprises Inc. It will be
paid in t... | Corporate News |
COLOROLL AGREES TO BUY U.S. WALLCOVERINGS COMPANY
| <Coloroll Group Plc> said it has entered
into a conditional agreement to acquire the business and assets
of <Wallco Inc> and related companies for 14.5 mln dlrs.
Miami-based Wallco manufactures and distributes
wallcoverings and showed a pretax profit of 1.5 mln dlrs on
turnover of 37 mln in the ye... | Other |
CCC EXPORT BONUS DAIRY CATTLE FOR CANARY ISLANDS
| The Commodity Credit Corporation,
CCC, has accepted a bonus offer from an exporter on the sale of
75 head of dairy cattle to the Canary Islands, the U.S.
Agriculture Department said.
The department said the bonus awarded was 1,459.00 dlrs per
head and was made to T.K. International Inc. It will be paid ... | Other |
U.S. CONSUMER CREDIT ROSE 536 MILLION DLRS IN JAN VS 144 MILLION DEC GAIN
|
U.S. CONSUMER CREDIT ROSE 536 MILLION DLRS IN JAN VS 144 MILLION DEC GAIN
| Financial Reports |
USX <X> UNIT RAISES SOME CRUDE POSTINGS
| Marathon Petroleum Company, a
subsidiary of USX Corp <X>, said it raised the contract price
it pays for three grades of crude oil, effective March 6.
Illinois Sweet and Indiana Sweet are both being raised 50
cts a barrel to 16.75 dlrs/bbl, and the Southern Michigan grade
is being raised 25 cts/bbl, a... | Corporate News |
UNITED BRANDS INC 4TH QTR SHR PROFIT SIX CTS VS LOSS 11 CTS
|
UNITED BRANDS INC 4TH QTR SHR PROFIT SIX CTS VS LOSS 11 CTS
| Commodities and Trade |
NATIONAL FUEL GAS <NFG> SETS SPLIT, HIGHER PAYOUT
| National Fuel Gas Co said its board has
approved a two-for-one stock split and will consider an
increased cash dividend at its June meeting.
The company also said management will recommend, at the
June board meeting, an increase of 12 cts per share in the
current annual dividend rate of 2.28 dlrs a shar... | Financial Reports |
SENSORMATIC <SNSR> UPS CHECKROBOT <CKRB> STAKE
| Sensormatic Electronics
Corp said it upped its investment in CheckRobot Inc in the form
of 2.5 mln dlrs of convertible preferred stock, raising its
stake in CheckRobot to 42 pct from 37 pct on a fully diluted
basis.
| Financial Reports |
UNION, SHIPPERS AGREE TO CUT N.Y. PORT COSTS
| The New York Shipping Association and
International Longshoremen's Association said they agreed to
cut cargo assessments at the Port of New York and New Jersey by
more than 50 pct on some labor intensive cargos.
The charges on cargo handled by union workers will be
reduced to 2.85 dlrs a ton from 5.85 d... | Financial Reports |
TREASURY BALANCES AT FED ROSE ON MARCH 6
| Treasury balances at the Federal
Reserve rose on March 6 to 3.879 billion dlrs from 3.467
billion dlrs the previous business day, the Treasury said in
its latest budget statement.
Balances in tax and loan note accounts fell to 12.453
billion drls from 14.350 billion dlrs on the same respective
days.
... | Commodities and Trade |
CSX <CSX> UNIT SETS IMPROVED SHIPPING SERVICE
| CSX Corp's Sea-Land Corp unit
said it will offer improved containership services between
Puerto Rico and the East Coast and Gulf Coast of the United
States, beginning March 16.
The carrier said it will provide shorter door-to-door
transit times, more convenient cargo availability and better
rail conne... | Commodities and Trade |
WORLD BANK REPORT CRITICISES PERU ECONOMIC PLAN
| a confidential world bank report on the
peruvian economy said the government's strategy does not offer
good prospects for medium and long-term growth and is likely to
quickly lead to inflation.
The report, published today by an economic monthly, the
peru report, said the success of president alan garcia... | Financial Reports |
MINISTERS FEEL EC FORECASTS TOO PESSIMISTIC
| European Community finance ministers
discussed the economic outlook for the 12-nation bloc and many
said a recent gloomy forecast by the EC Commission was too
pessimistic.
The Commission, the EC's executive authority, two weeks ago
cut its forecast for economic growth in the Community to 2.3
per cent ... | Corporate News |
U.S. CONSUMER CREDIT ROSE 536 MLN DLRS IN JAN
| U.S. consumer instalment credit rose
a seasonally adjusted 536 mln dlrs in January after a revised
rise of 144 mln dlrs in December, the Federal Reserve Board
said.
The annual rate of growth in January was 1.1 pct, up from
0.3 pct in December. Previously the Fed said consumer credit
rose 105 mln dlrs ... | Financial Reports |
CONOCO RAISES CRUDE OIL PRICES UP TO ONE DLR BARREL, WTI AT 17.50 DLRS
|
CONOCO RAISES CRUDE OIL PRICES UP TO ONE DLR BARREL, WTI AT 17.50 DLRS
| Financial Reports |
VIACOM <VIA>, NAT'L AMUSEMENTS SEEK FAST MERGER
| The chiefs of Viacom International Inc
and <National Amusements Inc> said they met and agreed to work
together to complete the previously announced merger of the two
companies "as expeditiously as possible."
A spokeswoman for Viacom declined to say if the executives
had set a timetable for closing th... | Financial Reports |
ASCS BUYS PROCESSED PRODUCTS FOR DOMESTIC USE
| The Agricultural Stabilization and
Conservation Service (ASCS) bought 25.7 mln pounds of wheat
flour at a cost of 2.8 mln dlrs for domestic shipment April
1-15 and April 16-30, an ASCS spokesman said.
ASCS also bought 11.1 mln pounds of bakers flour for 1.1
mln dlrs, 1.9 mln pounds of pasta for 408,258 ... | Corporate News |
GENERAL CINEMA CORP 1ST QTR OPER SHR 43 CTS VS 47 CTS
|
GENERAL CINEMA CORP 1ST QTR OPER SHR 43 CTS VS 47 CTS
| Commodities and Trade |
U.K. MONEY MARKET SHORTAGE FORECAST REVISED DOWN
| The Bank of England said it revised its
forecast of the shortage in the money market down to around 700
mln stg from its original estimate of 800 mln.
| Financial Reports |
BANK BOARD SAYS MORTGAGE RATES DOWN IN FEBRUARY
| The Federal Home Loan Bank Board said
interest rates on both fixed rate and adjustable rate home
mortgage loans were down substantially in early February.
The bank board said the average effective commitment rate
for fixed mortgages with a maturity of at least 15 years for
new home purchases dropped to ... | Commodities and Trade |
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