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AFFILIATED PUBLICATIONS INC <AFP> SETS PAYOUT
| Qtrly div eight cts vs eight cts prior
Pay June 1
Record May 15
| Financial Reports |
FRANKLIN RESOURCES INC <BEN> QTLY DIVIDEND
| Shr six cts vs six cts prior qtr
Pay April 10
Record March 27
| Financial Reports |
TWA FILES APPLICATION SEEKING RIGHT TO RAISE USAIR STAKE TO 25 PCT
|
TWA FILES APPLICATION SEEKING RIGHT TO RAISE USAIR STAKE TO 25 PCT
| Financial Reports |
COOPERVISION HAS 6.5 PCT OF COOPER LASER <ZAPS>
| CooperVision Inc <EYE> told the
Securities and Exchange Commission it has acquired 1,420,500
shares of Cooper LaserSonics Inc, or 6.5 pct of the total
outstanding common stock.
CooperVision said it bought the stake for 2.9 mln dlrs for
investment purposes.
It said it might buy additional Cooper... | Financial Reports |
DNA MEDICAL <DNAM> SIGNS PACT FOR STOCK SALE
| DNA Medical Inc said Walter G.
Mize had bought about 9,400,000 shares, or about 33 pct of
DNA's outstanding stock, for 100,000 dlrs cash.
Under an agreement with Mize, DNA said he will also become
chairman, and may, at his option, expand the board to provide
him equal representation with the current boa... | Financial Reports |
<CANADIAN ROXY PETROLEUM LTD> YEAR NET
| Shr profit five cts vs loss 23 cts
Net profit 916,000 vs loss 2,886,000
Revs 20.0 mln vs 28.2 mln
| Industrial and Sector News |
CITYFED <CTYF> TO SELL CONSUMER LENDING OFFICES
| CityFed Financial Corp said
its City Federal Savings Bank has a preliminary agreement to
sell 14 consumer lending offices to <Goldome FSB> for
undisclosed terms.
Goldome is the largest mutual savings bank in the U.S.
CityFed said it decided to sell its consumer lending
offices outside its main ... | Financial Reports |
TRANS WORLD AIRLINES <TWA> FILES ON USAIR <U>
| Trans World Airlines said it told the
Securities and Exchange Commission it does not intend to seek
control of USAir Group or to acquire more of its stock at this
time.
TWA also said it is amending its application with the
Department of Transportation to seek control of USAir.
The amendment said T... | Other |
FIRST BANK <FBS> AGREES TO SELL ANOTHER BANK
| First Bank System Inc said it has
found a potential buyer for First Bank Luverne and its office
in Pipestone, Minnesota.
The bank holding company said 215 Holding Co, a corporation
controlled by the family of the late Robert Short, will buy
First Bank Luverne. The bank has 59.2 mln dlrs in assets.
... | Market and Economy |
AMERICAN INTERNATIONAL PETROLEUM TO BUY ASSETS
| American International Petroleum Corp
<AIPN> said it agreed to acquire for one mln dlrs the assets of
a western Louisiana oil and gas company. American International
would not identify the company.
American said assets included nine leases totalling 2,600
acres, various working interests in 15 oil an... | Corporate News |
THREE D DEPARTMENTS INC <TDD> 2ND QTR JAN 31
| Shr four cts vs 15 cts
Net 132,851 vs 501,537
Revs 10 mln vs 15.5 mln
Six mths
Shr 12 cts vs 24 cts
Net 409,383 vs 812,045
Revs 19.4 mln vs 29.1 mln
| Industrial and Sector News |
<CONSOLIDATED PIPE LINES CO> YEAR NET
| Shr 1.19 dlrs vs 1.38 dlrs
Net 1,499,234 vs 1,713,941
Revs 23.2 mln vs 10.3 mln
| Financial Reports |
NEWCOR INC <NEW> 1ST QTR JAN 31 NET
| Shr profit four cts vs loss 58 cts
Net profit 119,000 vs loss 1,629,000
Sales 18.4 mln vs 17.0 mln
| Commodities and Trade |
SKYLINE CORP <SKY> 3RD QTR FEB 28
| Shr 13 cts vs seven cts
Net 1,487,000 vs 778,000
Sales 64.4 mln vs 58.3 mln
Nine mths
Shr 66 cts vs 55 cts
Net 7,388,000 vs 6,127,000
Sales 223.0 mln vs 222.2 mln
NOTE: 1987 quarter and nine month earnings includes a gain
on sale of idle facilities of 406,000 dlrs, or four ... | Corporate News |
TECH DATA CORP <TECD> 4TH QTR ENDS JAN 31 NET
| Shr 24 cts vs 13 cts
Net 771,000 vs 314,000
Revs 24.1 mln vs 11.3 mln
Avg shrs 3,234,000 vs 2,426,000
12 mths
Shr 65 cts vs 38 cts
Net 1,983,000 vs 904,000
Revs 71.5 mln vs 37.7 mln
Avg shrs 3,035,000 vs 2,371,000
| Commodities and Trade |
SENATE COMMITTEE MAY LOOK AT FUEL TAX PROPOSALS
| The Senate budget committee sits
down tomorrow to start drafting a fiscal 1988 budget, with the
budget writers expected to look at several proposals for fuel
taxes and other tax options to cut the budget.
In a briefing book for the drafting sessions, a number of
revenue raising tax options are proposed,... | Corporate News |
BRAZIL TRADE SURPLUS RISES IN FEBRUARY
| The trade surplus doubled in
february to 261 mln dlrs from January's 129 mln, but was below
the 628 mln of February 1986, official figures show.
The director of the Banco do Brasil's foreign trade
department (CACEX), Roberto Fendt, told reporters the upturn in
February confirmed a rising trend in expor... | Commodities and Trade |
ARMTEK <ARM> UNIT LEVERAGED BUYOUT COMPLETED
| Condere Corp, formed by former
managers of Armtek Corp, said it completed the acquisition of a
tire plant and other assets of Armtek for undisclosed terms.
In addition to a tire manufacturing plant, Condere bought
S. and A. Truck Tire Sales and Service Corp, which operates 51
Sears Truck Tire Sales and ... | Corporate News |
HORIZON BANCORP <HZB> SETS REGULAR PAYOUT
| Qtrly div 34 cts vs 34 cts prior
Pay May 1
Record April 15
| Financial Reports |
ASHLAND OIL CHAIRMAN SEES LOSS FROM OPERATIONS IN THE SECOND FISCAL QUARTER
|
ASHLAND OIL CHAIRMAN SEES LOSS FROM OPERATIONS IN THE SECOND FISCAL QUARTER
| Commodities and Trade |
HENLEY <HENG> TO ISSUE SUBSIDIARY'S SHARES
| Henley Group Inc said it plans
to issue 20 pct of the common stock of its Fisher Scientific
Group Inc unit to Henley Group shareholders.
The company said it intends to issue one share of Fisher
Scientific for each 16 Henley shares held to shareholders of
record March 26. The distribution is scheduled fo... | Financial Reports |
SCHLUMBERGER <SLB> MAY HAVE ALTERNATE BUYER
| Schlumberger Ltd most likely has an
alternate buyer lined up for its Fairchild Semiconductor unit,
Wall Street analysts said.
"I think its clear that in cancelling its agreement with
Fujitsu, Schlumberger has signaled that it has another deal in
the works," said Paul Johnson, a semiconductor analyst wit... | Financial Reports |
BRAZIL'S TRADE SURPLUS DOUBLED IN FEBRUARY
| Brazil's trade surplus doubled
in February to 261 mln dlrs from January's 129 mln but was well
below the 628 mln dlrs of February last year, official figures
show.
Director of the Banco do Brasil's foreign trade department
(CACEX), Roberto Fendt, told reporters the upturn in February
confirmed a risin... | Corporate News |
PENN CENTRAL <PC> SELLS U.K. UNIT
| SAFT, a unit of Cie Generale
d'Electricite of France, said it bought U.K.-based Alcad Ltd
from Penn Central Corp's Marathon Manufacturing Cos Inc.
Terms of the deal were not disclosed.
Alcad is one of the world's largest producers of
pocket-plate nickel-cadmium storeage batteries, used in
industri... | Financial Reports |
<SILICON VALLEY BANCSHARES> SETS STOCK PAYOUT
| Silicon Valley Bancshares
said it declared a five pct stock dividend, payable May 1 to
shareholders of record April 1.
| Corporate News |
CCC CREDITS FOR HONDURAS SWITCHED TO WHITE CORN
| The Commodity Credit Corporation (CCC)
announced 1.5 mln dlrs in credit guarantees previously
earmarked to cover sales of dry edible beans to Honduras have
been switched to cover sales of white corn, the U.S.
Agriculture Department said.
The department said the action reduces coverage for sales
of dry... | Corporate News |
DI GIORGIO CORP <DIG> QTLY DIVIDEND
| Shr 16 cts vs 16 cts prior qtr
Pay May 15
Record April 17
| Corporate News |
SOYBEAN GROUPS MEET WITH LYNG TO DISCUSS LOAN
| A high-level meeting last week which
included the Secretary of Agriculture and other senior USDA
officials, along with leaders of the major soybean lobbying
groups, failed to reach any decision on what should be done
about the soybean loan level, participants at the meeting told
Reuters.
"We didn't f... | Financial Reports |
U.S. HEATING OIL FUTURES UP SHARPLY IN APRIL
| A supply shortage of number two oil in
New York for prompt delivery boosted the April heating oil
contract on U.S. energy futures, traders said.
Crude oil futures followed but gasoline futures lagged.
April heating oil ended 1.24 cts higher to 51.65 cts a gallon,
while April crude settled 28 cts higher ... | Financial Reports |
TRANSAMERICA INCOME <TAI> MONTHLY DIVIDEND
| Shr 19 cts vs 19 cts prior period
Pay April 15
Record March 31
Note: Full name Transamerica Income Shares Inc.
| Financial Reports |
MCDERMOTT <MDR> SAYS STAKE VIOLATES LAW
| McDermott International Inc said
the purchase of a 5.4 pct block of its stock was an apparent
violation of the laws of Panama, its country of incorporation.
The company said a detailed disclosure of an acquisition
offer must be made to the Panamanian National Securities
Commission or to the target's boa... | Financial Reports |
ICAHN SAYS HE IS TARGET OF SEC INVESTIGATION
| Corporate raider Carl Icahn
acknowledged that he is one of the targets of an investigation
by the Securities and Exchange Commission into possible
violations of securities laws.
Icahn, who heads and controls Trans World Airlines Inc
<TWA>, made the acknowledgement in a filing TWA was required to
ma... | Financial Reports |
SMITHKLINE <SKB> AIMS FOR 10 PCT EARNINGS RAISE
| SmithKline Beckman Corp said it is
pursuing a three-point stragey that will achieve a 10 pct
annual increase in operating earnings throughout the remainder
of the decade.
In 1986, SmithKline earned 521.1 mln dlrs or 6.78 dlrs per
share on revenues of 3.6 billion dlrs.
The company said in its annua... | Financial Reports |
ASHLAND OIL <ASH> SEES 2ND QTR OPER LOSS
| Ashland Oil Inc said it expects to
report a loss from operations in the second quarter.
The company also said it expects to report a 10 mln dlrs
net gain in the quarter from excess pension funds used to pay
down debt. "However, it is difficult to determine now whether
this gain will be sufficient to off... | Corporate News |
AMERITRUST <AMTR> SELLS TWO MLN SHARES
| Ameritrust Corp said it sold two mln
shares of its common stock to an investment group named
Clevebaco Ltd Partnership.
The partnership is controlled by Alfred Lerner, and a
subsidiary of the Progressive Corp <PROG> is the limited
partner, according to the company.
Ameritrust said it was advise... | Corporate News |
BANKAMERICA CHAIRMAN SAYS BANK IS TURNING AROUND, HEADING TO PROFITABILITY
|
BANKAMERICA CHAIRMAN SAYS BANK IS TURNING AROUND, HEADING TO PROFITABILITY
| Financial Reports |
<GENERAL LEASEHOLDS LTD> YEAR NET
| Shr 30 cts vs 53 cts
Net 868,000 vs 728,000
Revs 7,300,000 vs 6,500,000
Avg shrs 3,000,000 vs 750,000
| Financial Reports |
BRITISH FARM MINISTER ATTACKS SUBSIDIES
| Farm subsidies and protectionist
moves threaten healthy trade on both sides of the Atlantic,
Michael Jopling, British minister of Agriculture, Fisheries and
Food, warned.
"It would not be sensible to provoke another dispute between
Europe and the United States," Jopling said in remarks prepared
for an... | Commodities and Trade |
BANKAMERICA <BAC> CHAIR SAYS BANK TURNING AROUND
| BankAmerica Corp Chairman A.W.
Clausen said the bank holding company is turning around and is
back on the road to profitability.
In a speech to the San Francisco Chamber of Commerce,
Clausen said he was "absolutely convinced" BankAmerica would
return to its position of preeminence.
"Fundamental to... | Financial Reports |
ROCHESTER TELEPHONE CORP <RTC> SETS DIVIDEND
| Qtly div 66 cts vs 66 cts
Pay May one
Record April 15
| Financial Reports |
AUGAT INC <AUG> SETS QUARTERLY DIVIDEND
| Qtly div 10 cts vs 10 cts
Pay April 30
Record April 10
| Financial Reports |
PHH GROUP <PHH> REGULAR QTLY DIVIDEND
| Qtly div 26 cts vs 26 cts prior
Pay April 30
Record April 10
| Financial Reports |
TELCO SYSTEMS INC <TELC> 2ND QTR MARCH ONE LOSS
| Shr loss nine cts vs profit 14 cts
Net loss 773,000 vs profit 1,618,000
Revs 16.3 mln vs 26.7 mln
Six mths
Shr loss 56 cts vs profit 27 cts
Net loss 4,763,000 vs profit 3,398,000
Revs 29.3 mln vs 49.9 mln
| Commodities and Trade |
U.S. DECLINES COMMENT ON SCHLUMBERGER<SLB> MOVE
| A U.S. Commerce Department spokesman
said the agency would have no comment on Schlumberger Ltd's
announcement that it had terminated an agreement in principle
to sell its Fairchild Semiconductor Corp unit to Fujitsu Ltd.
Sclumberger had said that controversy surrounding the
venture made it unlikely the ... | Financial Reports |
PRECISION TARGET MARKETING INC <PTMI> 3RD QTR
| Shr profit one cts vs loss two cts
Net 74,000 vs loss 122,000
Revs 1.7 mln dlrs vs 1.4 mln
Nine months
Shr profit five cts vs loss 10 cts
Net profit 299,000 vs loss 624,000
Revs 5.1 mln vs 3.7 mln
NOTE:3rd qtr ended January 31. 1987 3rd qtr and nine months
includes 36,000 d... | Commodities and Trade |
ROYAL BANK/CANADA BRAZIL UNIT SEES GROWTH
| Royal Bank of Canada's <RY> small
Brazilian commercial bank subsidiary Banco Royal do Canada
(Brasil) S.A. sees opportunities for its own growth with an
expected substantial increase in Brazilian exports to Canada,
Banco Royal president Michael Brennan said.
"They (Brazilian exporters) are very inter... | Financial Reports |
AFFILIATED PUBLICATIONS INC <AFP> SETS DIVIDEND
| Qtly div eight cts vs eight cts
Pay June one
Record May 15
| Corporate News |
ASTRO-MED INC <ALOT> 4TH QTR NET
| Shr 10 cts vs nine cts
Net 217,000 vs 192,000
Revs 3,325,000 vs 2,506,000
Year
Shr 31 cts vs 43 cts
Net 660,000 vs 932,000
Revs 12.2 mln vs 10.7 mln
| Corporate News |
CENTRAL PENNSYLVANIA <CPSA> BUYS STAKE IN FIRM
| Central Pennsylvania Savings
Association said it made a 30 pct investment in <Pinnacle
Mortgage Investment Co>.
Terms were not disclosed.
Pinnacle, incorporated in 1985, generates about 60 mln dlrs
in closed mortgage loans annually.
Central Pennsylvania also said its directors recently
ap... | Financial Reports |
N.Z. PORTS REOPEN, BUT FURTHER CLOSURES POSSIBLE
| Harbour workers returned to work
this morning after a strike in support of pay claims closed New
Zealand's 15 ports for 24 hours yesterday.
But the Harbour Workers Union told reporters the pay
dispute is not settled and the union's national executive will
meet here tomorrow to decide its next moves.
... | Other |
ATCOR <ATCO> SAYS OUTLOOK DEPENDS ON STEEL
| Atcor Inc said the magnitude of any
earnings recovery in fiscal 1987 depends on the direction of
steel pricing and how fast the company's severe operating
problems in its consumer segment are resolved.
Atcor's consumer segment represents about 25 pct of its
sales. In a letter to shareholders the company... | Corporate News |
ZZZZ BEST CO INC <ZBST> 3RD QTR NET
| Shr 14 cts vs four cts
Net 1,474,000 vs 286,000
Revs 15.5 mln vs 1.4 mln
Avg shrs 10.6 mln vs 7.5 mln
Nine mths
Shr 38 cts vs eight cts
Net 3,387,000 vs 588,000
Revs 33.4 mln vs 2.9 mln
Avg shrs 8.8 mln vs 7.5 mln
| Commodities and Trade |
PACIFIC LIGHTING <PLT> CONSIDERS UNIT SALE
| Pacific Lighting Corp said it is
considering the sale of its land development line of business
and will be initiating discussions with potential buyers.
The book value of the company's investment in land
development operations is 224 mln dlrs. The Pacific Lighting
Real Estate Group earned 24.2 mln dlrs ... | Corporate News |
MLX <MLXX> UNIT AGREES TO BY ABEX UNIT
| MLX Corp said a subsidiary has
tentatively agreed to acquire a sintered friction materials
business in Milan, Italy, from a unit of Abex Corp for
undisclosed terms.
The deal will close after obtaining Italian government
approvals, expected in late April.
The business, which will operated under the... | Financial Reports |
MODULINE INTERNATIONAL <MDLN> 3RD QTR OPER LOSS
| Qtr ended Dec 31
Oper shr loss two cts vs loss 92 cts
Oper net loss 28,045 vs loss 1,040,700
Sales 4,943,584 vs 5,613,400
Nine mths
Oper shr profit 11 cts vs loss 93 cts
Oper net profit 124,434, vs loss 1,054,000
Sales 22.6 mln vs 26.3 mln
(Mouduline International Inc)
... | Corporate News |
<FINANCIAL TRUSTCO CAPITAL LTD> HIKES PAYOUT
| Qtly div 12.5 cts vs six cts
Pay March 31
Record March 24
Note: Co also declares 12.5 ct qtly div on special shares
issued in December, 1986, with same pay and record dates.
| Financial Reports |
USP REAL ESTATE <USPTS> HAS GAIN ON SALE
| USP Real Estate Investment
Trust said it will post a first-quarter gain of 2,258,216 dlrs
on the sale of the Spanish Villa Apartments in Savannah, Ga.,
which was completed last week.
| Corporate News |
BINDLEY WESTERN INDUSTRIES INC<BIND>4TH QTR NET
| Oper shr primary 28 cts vs 17 cts
Oper shr diluted 24 cts vs 17 cts
Oper net 1,826,000 vs 1,104,000
Revs 205.4 mln vs 171.1 mln
Avg shrs primary 6,512,462 vs 6,510,462
Avg shrs diluted 10.3 mln vs 10.3 mln
Year
Oper shr primary 83 cts vs 76 cts
Oper shr diluted 77 cts v... | Commodities and Trade |
CENTEL <CNT> SEES LOWER FIRST QTR PROFITS
| Centel Corp said it sees 1987 first
quarter results below those of 1986 due to regulatory limits on
telephone earnings and 15 cts to 20 cts a share dilution from
1986 acquisitions.
In the annual report, Chairman Robert Reuss told
shareholders telephone profits will continued to be limited by
ceilings ... | Corporate News |
WINGS WEST AIRLINES <WING> 3RD QTR NET
| Qtr ended Jan 31
Shr one ct vs nine cts
Net 29,000 vs 349,000
Revs 7,892,000 vs 4,721,000
Note: nine mth data unavailable
.
| Corporate News |
TWA <TWA> SEES BENEFITS IN USAIR <U> MERGER
| Trans World Airlines Inc, which
disclosed that it does not intend to seek control of USAir
Group at this time, said it still believes a combination of the
two airlines would have benefits to both.
In a filing with the Securities and Exchange Commission,
TWA, which is controlled by Carl Icahn, said it co... | Corporate News |
ADOBE <ADB>, HIGH PLAINS <HPOC> TO MERGE
| Adobe Resources Corp and High Plains Oil
Corp said they reached an agreement in principle under which
High Plains will be merged into a unit of Adobe.
Under terms of the agreement, the companies said each share
of High Plains common stock not owned by Adobe or held in the
High Plains treasury will be ex... | Industrial and Sector News |
EC WARNS U.S. AND JAPAN ON TRADE TENSIONS
| The European Community (EC) delivered
warnings to both Japan and the United States over trade
frictions which have hit relations between the Community and
its main trading partners.
EC foreign ministers meeting here issued a statement
deploring Japan's continued trade imbalance and appealed for
greate... | Commodities and Trade |
CEASARS WORLD FILES SUIT AGAINST MARTIN SOSNOFF AND MTS ACQUISITION ON TENDER OFFER
|
CEASARS WORLD FILES SUIT AGAINST MARTIN SOSNOFF AND MTS ACQUISITION ON TENDER OFFER
| Financial Reports |
COASTAL <CGP> HIT WITH TWO BILLION DLR LAWSUIT
| TransAmerica Natural Gas Corp said it
is seeking two billion dlrs in punitive and actual damages in a
lawsuit it filed today against Coastal Corp, its chairman and
certain Coastal affiliates.
TransAmerica, a privately held company that has been in
bankruptcy since 1983, said its suit alleges that Coasta... | Financial Reports |
CAESARS WORLD <CAW> FILES SUIT AGAINST SOSNOFF
| Caesars World Inc said it filed a
lawsuit against Martin T. Sosnoff and MTS Acquisition Corp
regarding its March 9 unsolicited tender offer for Caesars
World stock.
The company said it filed in the Federal Court in the
Central District of California, charging the tender offer,
which its board rejected... | Financial Reports |
HARRIS UPS CENTERRE BANCORP <CTBC> STAKE
| Harris Associates L.P., a Chicago
investment advisor, said it raised its stake in Centerre
Bancorporation to 508,062 shares, or 6.6 pct of the total
outstanding, from 427,061 shares, or 5.5 pct.
In a filing with the Securities and Exchange Commission,
Harris said it bought 81,001 Centerre common shares ... | Financial Reports |
PAY'N-SAVE <PAYN> 1ST QTR JAN 31 NET
| Shr profit one ct vs loss 14 cts
Net profit 279,000 vs loss 1,896,000
Sales 199.6 mln vs 142.4 mln
| Financial Reports |
EC COMMISSION DEFENDS FARM PROGRAM
| The European Community's (EC)
executive Commission defended attacks on major elements of its
ambitious program to rid the EC of its controversial farm
surpluses, after strong attacks from northern states.
Britain and West Germany, backed by the Netherlands and
Denmark, opposed a proposed tax on edible o... | Financial Reports |
AERO SERVICES <AEROE> IN PACT FOR NOMINATIONS
| Aero Services International Inc
said it signed an agreement with Dibo Attar, who controls about
39 pct of its common stock, under which three nominees to
Aero's board have been selected by Attar.
In addition to Attar, the nominees are Stephen L. Peistner,
chairman and chief executive officer of <McCr... | Financial Reports |
Australia Feb current account deficit 750 mln dlrs vs Jan 1.23 billion - official
|
Australia Feb current account deficit 750 mln dlrs vs Jan 1.23 billion - official
| Financial Reports |
AUSTRALIAN CURRENT ACCOUNT DEFICIT NARROWS IN FEB
| Australia's current deficit narrowed
to 750 mln dlrs in February from 1.23 billion (revised from
1.29 billion) in January, the Statistics Bureau said.
This compared with an 897 mln dlr shortfall a year earlier.
February merchandise trade recorded a 42 mln dlr surplus
against a 246 mln shortfall (rev... | Other |
AUSTRALIAN RESERVES FALL IN FEBRUARY
| Australia's official reserve assets fell
to the equivalent of 8.50 billion U.S. Dlrs in February, from
9.15 billion in January, compared with 9.06 billion a year
earlier, the Reserve Bank said.
In Australian dollar terms, reserves fell by 1.24 billion
dlrs to 12.60 billion after falling 1.71 billion to ... | Corporate News |
Japan February wholesale prices fall 0.1 pct (0.6 pct January drop) - official
|
Japan February wholesale prices fall 0.1 pct (0.6 pct January drop) - official
| Financial Reports |
JAPAN WHOLESALE PRICES FALL 0.1 PCT IN FEBRUARY
| Japan's overall wholesale price index
(base 1980) fell 0.1 pct in February from a month earlier to
86.4 for the second consecutive month-on-month fall, the Bank
of Japan said.
Wholesale prices fell 0.6 pct in January from December.
The index fell 9.1 pct from a year earlier for the 21st
straight y... | Corporate News |
DOLLAR SEEN FALLING UNLESS JAPAN SPURS ECONOMY
| Underlying dollar sentiment is bearish,
and operators may push the currency to a new low unless Japan
takes steps to stimulate its economy as pledged in the Paris
accord, foreign exchange analysts polled by Reuters said here.
"The dollar is expected to try its psychological barrier of
150.00 yen and to ... | Commodities and Trade |
MARKET WELCOMES LOWER AUSTRALIAN PAYMENTS DEFICIT
| The Australian dollar rose more than 40
points and money market interest rates retreated on the better
than expected improvement in the February current account
deficit, but economists and dealers were cautious about
identifying it as the start of a downward trend.
The current account deficit narrowed t... | Corporate News |
HONGKONG BANK SAYS CLOSE TO DEAL ON PROPERTY SALE
| Hongkong and Shanghai Banking Corp
<HKBH.HK> is close to a deal on the sale of a commercial
building in Hong Kong's Mongkok business district, a bank
spokesman said.
He said the 21-storey Wayfoong Plaza was likely to be sold
for about 280 mln H.K. Dlrs but declined to identify the buyer.
The sp... | Financial Reports |
THAI M-1 MONEY SUPPLY RISES IN JANUARY
| Thailand's M-1 money supply rose 9.8
pct to an estimated 117.3 billion baht in January after
increasing 6.6 pct in December, the Bank of Thailand said.
It said year-on-year M-1 grew 23.1 pct in January after an
18.5 pct increase in December.
The central bank said M-2 rose 1.7 pct to an estimated
6... | Financial Reports |
JAPAN TO RELEASE GNP FIGURES LATER TODAY
| The Economic Planning Agency will
announce gross national product (GNP) figures for the
October/December quarter today at 1700 hrs local time (0800
gmt), Agency officials told Reuters.
In the July/September quarter, GNP rose 0.6 pct from the
previous three months.
| Financial Reports |
TAIWAN 1986 BALANCE OF PAYMENTS SURPLUS IS RECORD
| Taiwan's balance of payments surplus
widened to a record 16.62 billion U.S. Dlrs in calendar 1986
from 9.35 billion in 1985, the central bank said.
A bank official attributed the increase mainly to Taiwan's
growing trade surplus, which increased to a record 16.8 billion
U.S. Dlrs in 1986 from 11.2 billi... | Commodities and Trade |
EC WARNS U.S. AND JAPAN ON TRADE TENSIONS
| The European Community (EC) yesterday
warned Japan and the United States, its main trading partners,
that friction over trade issues is affecting the EC's relations
with both countries.
EC foreign ministers issued a statement deploring Japan's
continued trade imbalance and appealed for the country to ma... | Financial Reports |
CATHAY PACIFIC 1986 PROFIT SEEN ABOVE TARGET
| Buoyed by low fuel prices and
favourable currency factors, Cathay Pacific Airways Ltd's
<CAPH.HK> 1986 profits are expected to surpass the airline's
forecast of one billion H.K. Dlrs, stock analysts said.
Analysts said they expect the airline to show net earnings
of between 1.1 billion and 1.25 billi... | Financial Reports |
RENISON GOLDFIELDS EXTENDS LYELL COPPER MINE LIFE
| The Renison Goldfields Consolidated Ltd
<RGFJ.S> (RGC) Mt Lyell copper mine in Tasmania will stay open
for an extra five years following a new aid package from the
state government, RGC said in a statement.
The mine had been scheduled to close in 1989 after the 40
series stopes were mined, but will n... | Financial Reports |
NEW ZEALAND PRESS GROUP BUYS MORE TEXAS NEWSPAPERS
| <Independent Newspapers Ltd> (INL)
said it bought two more community newspapers in Houston, Texas,
through a subsidiary there, for an undisclosed sum.
INL said in a statement <Houston Community Newspapers Inc>
bought the South West Advocate and the South Bend Advocate,
with combined circulation of... | Commodities and Trade |
U.S. AGRICULTURE SECRETARY WARNS EC ON SOY OIL TAX
| U.S. Agriculture Secretary
Richard Lyng warned the European Community yesterday it will
face serious retaliation if it enacts a new tax on products
such as U.S. Soybean oil.
Speaking at a news conference before a scheduled speech,
Lyng said he did not think the tax, which is still in the
discussion st... | Financial Reports |
KOBE RUBBER EXCHANGE TO EXTEND TRADING HOURS
| The Kobe Rubber Exchange said it will
extend its trading hours from May 1 to enable more operators to
use the exchange.
Subject to Ministry of International Trade and Industry
approval, the Exchange will add a sixth session starting at
1700 local time, and will close the account for trading at the
new... | Corporate News |
COASTAL <CGP> SEEKS TO HALT BILLION DLR LAWSUIT
| Coastal Corp said a federal bankruptcy
court will hear its request today for a restraining order to
stop a two billion dlr lawsuit against it by <TransAmerican
Natural Gas Corp>.
TransAmerican, which entered Chapter 11 bankruptcy
proceedings in 1983 to reorganise its debts, filed the lawsuit
to blo... | Financial Reports |
STUDY PREDICTS U.S. DEPENDENCE ON FOREIGN OIL
| A government study has concluded the
U.S. Will be dependent on oil from the middle east into the
next century and must take steps to reduce its vulnerability,
the New York Times said.
The newspaper said the inter-agency government study found
a serious oil-dependency problem due to steadily falling
do... | Corporate News |
JAPAN M-2 PLUS CD MONEY SUPPLY ROSE 8.8 PCT IN YEAR TO FEBRUARY (JAN 8.6) - OFFICIAL
|
JAPAN M-2 PLUS CD MONEY SUPPLY ROSE 8.8 PCT IN YEAR TO FEBRUARY (JAN 8.6) - OFFICIAL
| Market and Economy |
JAPAN FEBRUARY MONEY SUPPLY RISES 8.8 PCT
| Japan's broadly defined money supply
average of M-2 plus certificate of deposits (CDs) rose a
preliminary 8.8 pct in February from a year earlier, compared
with an 8.6 pct rise in January, the Bank of Japan said.
The seasonally adjusted February average of M-2 plus CDs
supply rose 0.8 pct from January, ... | Financial Reports |
ASSETS OF U.S. MONEY FUNDS ROSE IN WEEK
| Assets of money market mutual funds
increased 720.4 mln dlrs in the week ended yesterday to 236.90
billion dlrs, the Investment Company Institute said.
Assets of 91 institutional funds rose 356 mln dlrs to 66.19
billion dlrs, 198 general purpose funds rose 212.5 mln dlrs to
62.94 billion dlrs and 92 bro... | Commodities and Trade |
CHINA TO IMPORT MORE GRAIN IN 1987
| China's grain imports will rise
in 1987 because of a serious drought and increasing demand, but
will be not be as large as in the past, Chinese officials and
Japanese traders told Reuters.
They said foreign exchange constraints and national policy
would not allow a return to large-scale imports, which p... | Financial Reports |
Japan October/December GNP up 0.8 pct (July/Sept revised 0.7 rise) - official
|
Japan October/December GNP up 0.8 pct (July/Sept revised 0.7 rise) - official
| Corporate News |
Japan GNP rises 2.5 pct in calendar 1986 (4.7 pct in 1985) - official
|
Japan GNP rises 2.5 pct in calendar 1986 (4.7 pct in 1985) - official
| Corporate News |
JAPAN OCTOBER/DECEMBER GNP RISES 0.8 PCT
| Japan's gross national product (GNP) rose
a real 0.8 pct in the October/December quarter after an
upwardly revised 0.7 pct increase the previous three months,
the Economic Planning Agency (EPA) said.
The rise in the July/September quarter had originally been
put at 0.6 pct. The annualized growth rate ac... | Corporate News |
JAPAN OFFICIALS SEE DIFFICULTY HITTING GNP TARGET
| The government will find it very
difficult to achieve its new gross national product (GNP)
forecast of three pct growth in the fiscal year ending March
31, Economic Planning Agency officials said.
They made the comment to reporters after news that GNP rose
0.8 pct in the October/December quarter, after ... | Market and Economy |
FAIRCHILD DEAL FAILURE SEEN MAKING JAPANESE WARY
| Schlumberger Ltd's <SLB.N> decision to
end an agreement in principle for Fujitsu Ltd <ITSU.T> to buy
80 pct of its <Fairchild Semiconductor Corp>, and the political
furore that surrounded the proposed sale, will make Japanese
companies more cautious in their efforts to acquire U.S. High
technology ... | Financial Reports |
S.KOREA SAYS JAPAN COMPLAINS TO GATT ON TRADE PLAN
| Japan has complained to the secretariat
of the General Agreement on Tariffs and Trade (GATT) that South
Korea's five-year plan to cut its trade deficit with Japan
breaks GATT rules, Trade Ministry officials here said.
They said Japan submitted a report earlier this month
alleging South Korea's plan to i... | Financial Reports |
AUSTRALIAN CURRENCY TRADING SET RECORD IN JANUARY
| Spot volume in the Australian foreign
exchange market jumped to a record 22.63 billion dlrs a day in
January from 16.18 billion in December and 8.27 billion a year
earlier, the Reserve Bank said in its monthly bulletin.
The previous record was 17.51 billion dlrs last August.
The peak broke a steady ... | Financial Reports |
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