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JAPAN SEEN REDUCING BEEF, PORK INTERVENTION PRICES
| The Agriculture Ministry is expected to
reduce official intervention prices for beef and pork in
1987/88 starting in April, but the cutback ratio has not been
set yet, industry sources said.
Production prices, the basis for setting intervention
prices, have been falling because of declining compound fee... | Corporate News |
Danish central bank cuts overnight money market interest rate to 10.5 pct from 11 pct - official
|
Danish central bank cuts overnight money market interest rate to 10.5 pct from 11 pct - official
| Other |
MITSUBISHI CHEMICAL INDUSTRIES LTD <MCIT.T> YEAR
| Year ended January 31
Parent shr 5.73 yen vs 5.80
Div five yen vs same
Net 7.01 billion vs 6.77 billion
Current 24.06 billion vs 23.76 billion
Operating 37.62 billion vs 45.26 billion
Sales 630.08 billion vs 810.89 billion
NOTE - Company forecast for current year parent div f... | Financial Reports |
JAPAN FOREIGN SHIPBUILDING ORDERS RISE IN FEBRUARY
| New foreign shipbuilding orders received
by Japanese yards in February rose to six vessels totalling
329,999 gross tons from three ships of 79,499 tons in January,
the Japan Ship Exporters Association said.
This compared with six ships of 125,150 gross tons a year
earlier, an association official said.
... | Financial Reports |
U.K. MONEY MARKET DEFICIT FORECAST AT 450 MLN STG
| The Bank of England said it forecast a
shortage of around 450 mln stg in the money market today.
Among the main factors affecting liquidity, bills maturing
in official hands and the take-up of treasury bills will drain
some 650 mln stg while banker's balances below target will take
out around 50 mln stg... | Commodities and Trade |
CCIC FINANCE LTD - YEAR TO DEC 31
| Net profit 16.66 mln H.K. Dlrs vs 11.28 mln
Total divs to shareholders 7.5 mln vs nil
Note - Firm underwrote 23 capital market issues in 1986.
Next industrial transaction in May is syndication of a 35 mln
U.S. Dlr loan to the Shanghai Ta Chun Tyre Project. The company
is a joint venture merchant ban... | Commodities and Trade |
SOUTHEAST CHINA CROPS SAVED BY HEAVY RAIN
| The heaviest rains for seven months are
believed to have saved more than one mln hectares of
drought-threatened crops in southeast China, the official New
China News Agency said.
This week's rains have alleviated drought conditions in
Guangdong Province, the agency said.
China has warned that this... | Corporate News |
ZAMBIA STOPS SENDING COPPER THROUGH SOUTH AFRICA
| Zambia has stopped sending its copper
exports through South Africa, the official Times of Zambia
said.
The newspaper yesterday quoted highly placed sources as
saying the state-owned Zambia Consolidated Copper Mines (ZCCM)
was diverting its mineral exports away from South Africa, but
it did not say whi... | Corporate News |
OECD JANUARY ANNUAL INFLATION STEADY AT 2.1 PCT
| Inflation in the 24 industrialised
nations of the Organisation for Economic Cooperation and
Development was 2.1 pct in the year to January, unchanged from
December, the OECD said.
But monthly inflation throughout the OECD was an average
0.4 pct in January, a rise compared to the 0.2 pct in the last
qu... | Financial Reports |
CARGILL STRIKE TALKS CONTINUING TODAY
| Further talks will be held this morning
at Cargill U.K. Ltd's oilseed processing plant at Seaforth,
after yesterday's meeting between management and unions failed
to produce a solution to end the three month old strike, a
company spokesman said.
Talks will be extended to tomorrow if there is no
breakt... | Corporate News |
INDONESIAN SUGAR OUTPUT FORECAST TO RISE IN 1987
| Indonesian sugar output is forecast by
the government to reach 2.126 mln tonnes in calendar 1987
against projected consumption of 2.039 mln tonnes, Agriculture
Minister Achmad Affandi said.
Production in 1986, when Indonesia was forced to import
sugar, is officially estimated at 2.016 mln tonnes against... | Commodities and Trade |
TAIWAN ISSUES MORE CERTIFICATES OF DEPOSIT
| Taiwan's central bank issued 12 billion
Taiwan dlrs worth of certificates of deposit after issuing six
billion yesterday, bringing CD issues so far this year to
115.47 billion dlrs, a bank official told Reuters.
The new CDs have maturities of six months, one year and two
years and bear interest rates ra... | Industrial and Sector News |
FRENCH JANUARY PAYMENTS SURPLUS 0.3 BILLION FRANCS (3.8 BILLION DECEMBER SURPLUS)-OFFICIAL
|
FRENCH JANUARY PAYMENTS SURPLUS 0.3 BILLION FRANCS (3.8 BILLION DECEMBER SURPLUS)-OFFICIAL
| Financial Reports |
ITALIAN WHOLESALE PRICES UP 1.1 PCT IN JANUARY
| The wholesale price index rose 1.1 pct
month-on-month in January 1987 after increasing by 0.3 pct in
December 1986, the national statistics institute Istat said.
The index, base 1980 equals 100, registered 172.8 in
January compared with 170.9 in December.
The January 1987 figure represents a fall ov... | Financial Reports |
TAIWAN SAID CONSIDERING CURRENCY LIBERALISATION
| Taiwan's central bank is considering
proposals to ease currency restrictions to reduce foreign
exchange reserves of 51 billion U.S. Dlrs, a local newspaper
reported today.
The China Times, which has close ties with the government,
quoted central bank governor Chang Chi-cheng as saying the
government h... | Financial Reports |
FRENCH PAYMENTS SURPLUS SHRINKS IN JANUARY
| France's current account payments surplus
slipped to a provisional 300 mln francs, seasonally adjusted,
in January from a downward revised surplus of 3.8 billion in
December, the Finance Ministry said.
The December figure was revised from a provisional 4.8
billion franc surplus reported a month ago.
... | Commodities and Trade |
U.K. JAN INDUSTRIAL OUTPUT RISES 0.4 PCT, MANUFACTURING DOWN 2.3 PCT - OFFICIAL
|
U.K. JAN INDUSTRIAL OUTPUT RISES 0.4 PCT, MANUFACTURING DOWN 2.3 PCT - OFFICIAL
| Corporate News |
ZIMBABWE MAIZE OUTPUT TO FALL 65 PCT
| Maize deliveries to Zimbabwe's
state-owned Grain Marketing Board (GMB) will fall by over 65
pct this year, following a prolonged dry spell, agricultural
industry sources said.
They said 1987 maize deliveries are expected to decline to
around 520,000 tonnes from 1.6 mln tonnes last year. About 60
pct o... | Financial Reports |
U.K. INDUSTRIAL OUTPUT RISES IN JANUARY
| U.K. Industrial production rose a
provisional 0.4 pct in January after a 0.6 pct decline in
December 1986, figures from the Central Statistical Office
show.
The index for industrial production, base 1980, was set at
a seasonally adjusted 109.8 in January after December's 109.4
and compared with 108.2 ... | Financial Reports |
ZIMBABWE GDP RISES 0.2 PCT IN 1986
| Zimbabwe's real gross domestic product
increased 0.2 pct in 1986, according to preliminary figures
published by the Central Statistical Office (CSO). This
contrasts with a rise of more than nine pct in 1985.
The main reason for the slower rate of economic growth was
a drop in the real value of agricultu... | Financial Reports |
JAPAN SAYS U.S.-JAPAN MICROCHIP PACT WORKING
| Japanese officials sought to convince the
U.S. That a U.S.-Japan pact on microchip trade is working ahead
of an April 1 deadline set by the U.S. For them to prove their
case.
"We are implementing the agreement in good faith and the
situation does not run counter to the pact," Osamu Watanabe,
Director ... | Financial Reports |
LOOPHOLE FOR TANKERS IN NORWAY'S S. AFRICA BAN
| Norway's parliament has approved an
extensive trade ban against South Africa but left shipowners a
key loophole through which controversial oil shipments on
Norwegian tankers may continue, government officials said.
The unilateral boycott gives domestic companies until late
September to cut trade ties w... | Financial Reports |
HANSON SELLS FINLAYS UNIT FOR 16.9 MLN STG
| Hanson Trust Plc <HNSN.L> said it will
sell its Finlays confectionery, tobacco and newsagent business
to a specially formed company, <Finlays Plc> for an estimated
16.9 mln stg cash.
The chain of stores was acquired when Hanson took over
<Imperial Group Plc> last year.
| Financial Reports |
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 ... | Financial Reports |
U.K. MONEY MARKET RECEIVES NO MORNING ASSISTANCE
| The Bank of England said it did not
operate in the money market in the morning session.
Earlier, the central bank had estimated the deficit in the
system today at some 450 mln stg.
| Corporate News |
IRAN SAID TO ATTACK CYPRIOT TANKER
| A Cypriot tanker was set ablaze in the
Persian Gulf yesterday after an Iranian gunboat fired missiles
at it, shipping sources quoting reports from Japanese tankers
said today.
No casualties were seen and the tanker Pivot, laden with
crude oil, was towed towards Dubai by tugs after they put out
the fir... | Corporate News |
BILLITON SEEKS CHANGE IN SURINAM POLICIES
| <Billiton
International Metals B.V.>, the Dutch mining company, has urged
Surinam to change policies it says are causing heavy losses on
bauxite mining operations there, a company spokesman said.
He told Reuters that Billiton, a fully-owned Royal
Dutch/Shell <RD.AS> subsidiary, presented the deman... | Financial Reports |
DUTCH PORT EMPLOYERS RESUME LAY-OFF PLANS
| Employers in Rotterdam's troubled
general cargo sector have decided to restart stalled redundancy
procedures within a week, employers' organisation labour
relations manager Gerard Zeebregts told Reuters.
Port and transport union spokesman Bert Duim said the
employers' decision would not lead to the imme... | Corporate News |
COMMERCIAL INTERNATIONAL <CMMC> MAKES PURCHASE
| Commercial International Corp said
it has completed the previously-announced acquisition of most
of the assets of Growers Distributing International Corp, a
table grape marketer, for an undisclosed amount.
It said the entire purchase price will be payable over a
three-year period and based on a percenta... | Commodities and Trade |
<TIMEX CORP> SELLS UNIT
| <Swiss Corp for Microelectronics and
Watchmaking Industries> said it has acquired International time
corp from privately-held Timex corp for undisclosed terms.
International Time is exclusive distributor of Swiss Corp's
Tissot watches in the U.S.
| Financial Reports |
<WAVEHILL INTERNATIONAL INC> MAKES PURCHSE
| Wavehill International Ventures Inc
said it has completed the previously-announced acquisition of
Personal Computer Rental corp for 500,000 restricted common
shares, giving former shareholders of Personal Computer a 25
pct interest in the combined company.
| Financial Reports |
ECONOMISTS SEE SLUGGISH JAPANESE ECONOMY AHEAD
| The Japanese economy will remain sluggish
in the months ahead after turning in its worst performance for
12 years in 1986, private economists said.
Consumer spending, a main driving force of domestic demand,
was likely to remain lacklustre although brisk housing and
business investment would help sustai... | Market and Economy |
COCOA WORKING GROUP MEETING DELAYED
| The International Cocoa Organization
(ICCO) buffer stock working group meeting set for 1130 GMT
today was rescheduled for 1430, ICCO delegates said.
The meeting was delayed so a draft compromise proposal on
buffer stock rules could be completed, they said.
ICCO Executive Director Kobena Erbynn was p... | Commodities and Trade |
U.S. FEB HOUSING STARTS ROSE 2.6 PCT TO 1.851 MLN, PERMITS ROSE 4.4 PCT TO 1.764 MLN
|
U.S. FEB HOUSING STARTS ROSE 2.6 PCT TO 1.851 MLN, PERMITS ROSE 4.4 PCT TO 1.764 MLN
| Corporate News |
U.S. HOUSING STARTS ROSE 2.6 PCT IN FEBRUARY
| U.S. housing starts rose 2.6 pct in
February to a seasonally adjusted annual rate of 1,851,000
units, the Commerce Department said.
In January, housing starts fell a revised 0.5 pct to
1,804,000 units. The department previously said they fell 0.1
pct.
The rate at which permits were issued for futu... | Financial Reports |
SOUTH AMERICAN FISH MEAL PRODUCTION AT RECORD HIGH
| Production of fish meal by the three
South American producers -- Chile, Peru and Equador -- last
year reached 2.5 mln tonnes, equalling the record output of
1970, the International Association of Fish Meal Manufacturers
(IAFMM) said.
However, IAFMM said in a statement that it expected Chilean
and Peru... | Financial Reports |
TALKING POINT/COPPER STOCKS
| Copper shares, which have lagged
behind the market, should pick up steam this year on stronger
demand and improving prices for the metal, analysts said.
"Copper prices should move up over the next four to six
quarters," said Daniel Roling of Merrill Lynch and Co <MER>. "I
see average copper prices at... | Corporate News |
KOHLBERG KRAVIS HAS 96 PCT OWENS-ILLINOIS <OI>
| OII Holdings Corp, a company formed by
Kohlberg Kravis Roberts and Co, said it received and purchased
about 58.3 mln shares or 96 pct of Owens-Illinois Inc common
stock and 50,275 of 4.75 dlr cumulative convertible preference
shares of Owens, or about 83 pct.
The company said its tender offer for all co... | Financial Reports |
MACGREGOR SPORTING GOODS INC <MGS>2ND QTR JAN 31
| Shr one cent vs nine cts
Net 51,057 vs 554,878
Sales 24.5 mln vs 21.3 mln
First half
Shr 15 cts vs five cts
Net 1,026,479 vs 313,676
Sales 48.4 mln vs 37.4 mln
NOTE: Net includes gains of 28,000 dlrs, or one cent a
share, vs 61,000 dlrs, or seven cts a share, in quarter and... | Financial Reports |
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... | Commodities and Trade |
RENEWED BULL SPREADING LIKELY ON CATTLE REPORT
| Livestock analysts expect renewed bull
spreading in live cattle futures following yesterday's USDA
7-state cattle on feed report.
The USDA reported high placements in February, which may
weigh on back months of cattle futures. Meanwhile, continued
strong marketings during the month will support the Apri... | Financial Reports |
MICROBILT CORP <BILT> 4TH QTR JAN 31 NET
| Shr 15 cts vs 14 cts
Net 614,000 vs 449,000
Revs 4,186,000 vs 4,124,000
Avg shrs 4,131,000 vs 3,321,000
Year
Shr 47 cts vs 42 cts
Net 1,768,000 vs 1,394,000
Revs 15.0 mln vs 12.5 mln
Avg shrs 3,799,000 vs 3,324,000
| Corporate News |
SHAMROCK HOLDINGS UNIT AQUIRES SOFTWARE COMPANY
| <Shamrock Holdings Inc> said
its subsidiary, Shamrock Holdings of California, acquired
controlling interest in <DBMS Inc> through the purchase of
575,000 shares of its preferred stock.
The company said the stock was purchased for an undisclosed
amount from an unnamed group of investors.
Sham... | Financial Reports |
GULF BARGE FREIGHT RATES UP FURTHER ON CALL
| Gulf barge freight rates firmed again on
the outlook for steady vessel loadings at the Gulf, increasing
the demand for barges to supply those ships, dealers said.
No barges traded today on the St Louis Merchants' Exchange
call session, versus 29 yesterday.
Quotes included -
- Delivery this week o... | Corporate News |
CREDIT AGRICOLE REPLACES BNP IN HACHETTE TV BID
| French state agricultural bank <Caisse
Nationale du Credit Agricole> has joined the group led by
publishing house <Hachette> which is bidding for control of the
state television station TF1, replacing <Banque Nationale de
Paris> which has withdrawn, Hachette said in a statement.
Credit Agricole... | Financial Reports |
PAYLESS CASHWAYS INC <PCI> 1ST QTR FEB 28 NET
| Shr 10 cts vs seven cts
Net 3,501,000 vs 2,420,000
Sales 332.7 mln vs 274.9 mln
Qtly div four cts vs four cts prior
Pay April Six
Record March Six
| Financial Reports |
FRANCE APPROVES WATERMAN ACQUISITION BY GILLETTE
| Gillette Co <GS> exercised an option to
take a 51.2 pct stake in the French pen firm Waterman which it
had previously been authorised to do by the French government,
the French stockbrokers' association (CSAC) said.
Gillette has given an undertaking to intervene on the
Bourse until April 7 to prevent... | Market and Economy |
U.K. MONEY MARKET SHORTAGE FORECAST REVISED DOWN
| The Bank of England said it had revised
its forecast of the shortage in the money market today down to
400 mln stg from 450 mln stg.
| Corporate News |
NOEL INDUSTRIES INC <NOL> 1ST QTR JAN 31 LOSS
| Shr loss 26 cts vs loss 12 cts
Net loss 289,649 vs loss 138,372
Revs 5,944,286 vs 5,902,074
| Financial Reports |
JAPAN ALERTS GATT TO SOUTH KOREA IMPORT PLAN
| Japan told the General Agreement on
Tariffs and Trade that South Korea's five-year import
diversification plan violated the spirit of the world trade
governing body, a Foreign Ministry spokesman said.
The notification came in Japan's answer to a recent GATT
questionnaire on unfair trade practices, the s... | Other |
U.K. MONEY MARKET RECEIVES 16 MLN STG ASSISTANCE
| The Bank of England said it had provided
the money market with 16 mln stg help in the afternoon session.
The Bank did not operate in the market in the morning and
earlier revised its estimate of the shortage in the system
today down to 400 mln stg from 450 mln.
The central bank purchased bills outri... | Market and Economy |
ATICO FINANCIAL <ATFC> TO MAKE ACQUISITION
| Atico Financial Corp said it has executed
a definitive agreement to acquire 93.5 pct of Intercontinental
Bank of Dade County, Fla., from Intercontinental Bank Holding
Co for an undisclosed amount of cash and common stock.
It said closing is subject to regulatory approval.
Atico said in connection wi... | Commodities and Trade |
CLOTHESTIME INC <CTME> 4TH QTR NET
| Shr 12 cts vs 10 cts
Net 1,683,000 vs 1,407,000
Revs 42.2 mln vs 28.8 mln
12 mths
Shr 83 cts vs 70 cts
Net 11.9 mln vs 10.0 mln
Revs 160.3 mln vs 126.5 mln
NOTE: prior qtr and yr ended Jan 26.
| Corporate News |
CHARTER-CRELLIN INC <CRTR> YEAR NET
| Shr 1.40 dlrs vs 1.38 dlrs
Net 1,928,800 vs 1,485,600
Sales 35.2 mln vs 33.5 mln
Avg shrs 1,350,800 vs one mln
| Commodities and Trade |
<SENSORMATIC CANADA LTD> YEAR NET
| Shr 26 cts vs 18 cts
Net 879,000 vs 615,000
Revs 6,394,000 vs 5,561,000
| Corporate News |
DIME SAVINGS BANK OF WALLINGFORD <DIBK> PAYOUT
| Qtly div 10 cts vs 10 cts prior
Pay April 30
Record April Three
| Corporate News |
BAKER INTERNATIONAL TO SELL ELECTRIC SUBMERSIBLE OILWELL PUMP UNIT
|
BAKER INTERNATIONAL TO SELL ELECTRIC SUBMERSIBLE OILWELL PUMP UNIT
| Corporate News |
BAKER <BKO> TO SELL OILWELL PUMP UNIT
| Baker International Corp said it has
signed a definitive agreement to sell the assets and business
of the electric submersible oilwell pump product line in the
continental U.S. of its Baker Oil Tools Inc subsidiary to Trico
Industries Inc <TRO> for an undisclosed amount of cash and
other consideration.
... | Financial Reports |
<CANADIAN FOREMOST LTD> YEAR NET
| Shr 38 cts vs 92 cts
Net 1,042,000 vs 2,510,000
Revs 20.6 mln vs 29.6 mln
| Financial Reports |
IMMUNOGENETICS INC <IGEN> YEAR NET
| Oper shr profit eight cts vs loss eight cts
Oper net profit 604,996 vs loss 615,345
Sales 18.4 mln vs 17.8 mln
NOTE: Net excludes losses from discontinued operations of
156,098 dlrs vs 732,924 dlrs.
1986 net excludes tax credits of 271,538 dlrs.
1985 net includes gain 480,0009 dlrs fro... | Commodities and Trade |
<SCURRY-RAINBOW OIL LTD> 1ST QTR DEC 31 NET
| Shr 31 cts vs 53 cts
Net 4.2 mln vs 7.1 mln
Revs 16.1 mln vs 27.2 mln
| Other |
MCRAE INDUSTRIES INC <MRI.B> 2ND QTR JAN 31 NET
| Shr 19 cts vs three cts
Net 515,000 vs 87,000
Revs 6,830,000 vs 4,107,000
Six mths
Shr 36 cts vs 12 cts
Net 955,000 vs 327,000
Revs 14.2 mln vs 9,755,000
| Corporate News |
<FRONTIER TEXAS CORP> 2ND QTR NOV 30 NET
| Oper shr profit one ct vs loss four cts
Oper net profit 104,386 vs loss 196,265
Revs 8,174,652 vs 2,309,979
Avg shrs 6,285,714 vs 5,500,000
1st half
Oper shr profit nil vs loss eight cts
Oper net profit 26,541 vs loss 419,758
Revs 12.0 mln vs 5,088,134
Avg shrs 5,836,73... | Financial Reports |
<VICEROY RESOURCE CORP> DETAILS GOLD ASSAYS
| Viceroy Resource
Corp said recent drilling on the Lesley Ann deposit extended
the high-grade mineralization over a width of 600 feet.
Assays ranged from 0.35 ounces of gold per ton over a
150-foot interval at a depth of 350 to 500 feet to 1.1 ounces
of gold per ton over a 65-foot interval at a depth of ... | Financial Reports |
TAIWAN TO TENDER FOR 450,000 TONNES U.S. CORN
| Taiwan is scheduled to tender tonight
for 450,000 to 475,000 tonnes U.S. corn, export sources said.
The tender calls for 11 cargoes for delivery from April
through October with early shipments FOB or Pacific Northwest,
they said.
| Commodities and Trade |
CLABIR <CLG> UNIT AGRES TO BUY POPSICLE CANADA
| Clabir Corp said its 86 pct
owned affiliate, Ambrit Inc <ABI>, has agreed to acquire the
Popsicle Industries division of <Sara Lee Corp of Canada Ltd>
for about 37 mln Canadian dlrs in cash.
Clabir said the purchase from the Sara Lee Corp <SLE>
subsidiary is worht about 28 mln U.S. dlrs.
... | Financial Reports |
ST. JUDE MEDICAL <STJM> VOTES DIVIDEND RIGHTS
| St. Jude Medical Inc said its board
declared a special dividend of one right for each outstanding
share held of the company's common stock, payable to holders of
record April Six.
It said each right entitles the holder to buy one-tenth of
a share of preferred stock of St. Jude at an exercise price of
... | Corporate News |
ADAMS-RUSSELL ELECTRONICS <AARE> IN PURCHASE
| Adams-Russell Electronics Co Inc
said it has acquired Hermetronics PLC, a maker of hermetic
integrated circuit packages, for about 600,000 dlrs.
The company said HErmetronics is expected to have sales of
over 800,000 dlrs for the year ending this month.
| Financial Reports |
MESA LIMITED PARTNERSHIP <MLP> SETS PAYOUT
| Qtly div 50 cts vs 50 cts prior
Pay May 15
Record April Seven
NOTE: Partnership said holders of common and preference
units for all of 1987 are expected to have no net taxable
income.
| Corporate News |
U.S. CURRENT ACCOUNT DEFICIT RECORD 36.84 BILLION DLRS IN 4TH QTR 1986
|
U.S. CURRENT ACCOUNT DEFICIT RECORD 36.84 BILLION DLRS IN 4TH QTR 1986
| Corporate News |
U.S. CURRENT ACCOUNT DEFICIT 36.84 BILLION DLRS
| The U.S. current account deficit
widened to a record 36.84 billion dlrs on a balance of payments
basis in the October-December fourth quarter of 1986 from a
revised 35.29 billion dlrs in the third quarter, the Commerce
Department said.
Previously, the department said the third-quarter deficit
was 36.2... | Financial Reports |
U.K. MONEY MARKET GIVEN 120 MLN STG LATE HELP
| The Bank of England said it provided the
money market with late assistance of around 120 mln stg.
This brings the bank's total help today to some 136 mln stg
and compares with its forecast of a 400 mln stg shortage in the
system.
| Financial Reports |
MEMORY PROTECTION <MPDI> SEES BOGEN CLOSING
| Memory Protection Devices Inc said it
expects to close the previously announced acquisition of the
assets and liabilities of Bogen, a division of <Lear Siegler
Inc>, on April one.
Memory Protection Devices said it received a senior loan
commitment letter as well as the requisite waiver under the New
... | Market and Economy |
CANADIAN FOREMOST CONTINUES MACEDON SALE TALKS
| <Canadian Foremost Ltd>,
earlier reporting lower 1986 net profit, said negotiations are
continuing concerning the previously announced sale of the
company's 49 pct interest in <Macedon Resources Ltd>.
If concluded, the sale would be refelected in the company's
1987 results, Foremost said without e... | Financial Reports |
TEXAS INTERNATIONAL <TEI> COMPLETES RESERVE SALE
| Texas International Co said it
has completed the previously-announced 120 mln dlr sale of its
domestic oil and natural gas reserves to <Total Compagnie
Francaise des Petroles>.
It said on closing it used part of the proceeds to retire
all 100 mln dlrs of its U.S. bank and U.S. senior debt and the
r... | Corporate News |
TRANS WORLD MUSIC CORP <TWMC> 4TH QTR JAN 31 NET
| Shr 70 cts vs 47 cts
Net 4,185,000 vs 2,433,000
Sales 52.9 mln vs 35.7 mln
Avg shrs 6,000,000 vs 5,200,000
Year
Shr 1.20 dlrs vs 71 cts
Net 6,759,000 vs 3,717,000
Sales 130.4 mln vs 85.3 mln
Avg shrs 5,622,000 vs 5,200,000
| Corporate News |
GRUEN MARKETING <GMC> SEES YEAR NET OFF
| Gruen Marketing Corp said it
expects to report earnings for the year ended January 31 of 60
to 65 cts per share on about 7,309,000 average shares, down
from 78 cts on 6,545,000 shares a year before.
It said sales fell about 10 pct from the year-earlier 104.9
mln dlrs.
| Financial Reports |
DUTCH OFFICIAL WARNS OF MORE TRADE CONFLICTS
| Already strained relations between
the U.S. And the European Community (EC) are likely to get
worse before they get better, director general of the Dutch
Economics Ministry's foreign affairs division Frans Engering
said.
Speaking at an American Chamber of Commerce lunch in The
Hague, Engering noted th... | Commodities and Trade |
QINTEX AGAIN EXTENDS PRINCEVILLE <PVDC> OFFER
| <Qintex America Ltd> said its offer
for 3.3 mln Princeville Development Corp shares has been
extended to March 19 from March 18.
As of yesterday, Qintex said, 7,060,197 Princeville shares
had been tendered in response to the offer and not withdrawn,
down from over 7.2 mln on March 10.
Qintex sa... | Corporate News |
NEGOTIATORS DRAFT DETAILS OF NEXT RUBBER PACT
| Rubber producers and consumers, who
agreed last week on the central elements of a new international
natural rubber pact, have started work on the legal drafting of
a future accord, delegates said.
Compromise on issues blocking an agreement was reached at a
United Nations conference on an accord to repla... | Market and Economy |
VICEROY RESOURCE CORP DETAILS GOLD ASSAYS
| Viceroy Resource
Corp said recent drilling on the Lesley Ann deposit extended
the high-grade mineralization over a width of 600 feet.
Assays ranged from about 0.35 ounces of gold per short ton
over a 150-foot interval at a depth of 350 to 500 feet to about
1.1 ounces of gold per ton over a 65-foot inter... | Corporate News |
FIRST VALLEY CORP <FIVC> REGULAR DIVIDEND
| Qtly div 21 cts
Payable April 15
Record March 31
| Corporate News |
U.S. TREASURY ANNOUNCES OECD TIED-AID PACT
| U.S. Treasury Secretary James Baker
said an agreement has been reached by members of the
Organization for Economic Cooperation and Development (OECD) to
control the unfair trade practice of using tied aid to promote
trade.
He said in a statement the agreement culminates the Reagan
administration's eff... | Commodities and Trade |
GULF RESOURCES <GRE> SEES 1ST QTR PRETAX PROFIT
| Gulf Resources and Chemical Corp said
the sale of its stake in <Imperial Continental Gas Association>
will result in a pre-tax profit of about 44.1 mln dlrs or 4.69
dlrs per share, fully duliuted, in the first quarter of 1987.
Gulf said it sold its remaining stake in Imperial of
6,631,222 shares and... | Financial Reports |
STERLING INC <STRL> 4TH QTR JAN 31 NET
| Shr 1.27 dlrs vs not given
Net 5,097,000 vs 3,164,000
Sales 48.1 mln vs 31.7 mln
Year
Shr 1.42 dlrs vs not given
Net 5,194,000 vs 3,457,000
Sales 100.4 mln vs 70.1 mln
NOTE: Company went public in May 1986.
| Corporate News |
AUTOMATIX INC <AITX> 4TH QTR LOSS
| Shr loss 20 cts vs loss 12 cts
Net loss 2,195,000 vs loss 1,402,000
Revs 3,600,000 vs 5,777,000
Year
Shr loss 71 cts vs loss 51 cts
Net loss 7,851,000 vs loss 5,594,000
Revs 16.7 mln vs 24.8 mln
| Corporate News |
IONICS INC <ION> 4TH QTR NET
| Shr 11 cts vs 24 cts
Net 419,000 vs 938,000
Revs 16.2 mln vs 16.9 mln
Year
Shr 25 cts vs 95 cts
Net 952,000 vs 3,001,000
Revs 64.6 mln vs 68.8 mln
Backlog 30.3 mln vs 31.9 mln
NOTE: 1986 net includes nonrecurring gain 383,000 dlrs in
quarter and charge 175,000 dlrs in... | Commodities and Trade |
SOVIETS SAID TO SEE NEW FLOOR FOR GRAIN OUTPUT
| The intensive technology concept for
grain production has put a new floor under USSR grain
production, the U.S. Agriculture Department's officer in Moscow
said in a field report.
The report, quoting a broadcast on Radio Moscow, said that
due to intensive technology grain production in a "bad year" will
... | Financial Reports |
OECD AGREES EXPORT CREDIT REFORMS
| The western industrialised nations have
agreed reforms in rules by which they provide credit for
exports to developing countries, the Organisation for Economic
Cooperation and Development said.
The reforms tighten the rules for the use of foreign aid to
subsidise export credits in so-called "mixed credi... | Financial Reports |
TM COMMUNICATIONS <TMCI> COMPLETES PURCHASE
| TM Communications Inc said it has
completed the acquisition of radio station KNSS-FM of Reno,
Nev., for about 2,500,000 dlrs in cash.
| Financial Reports |
PEOPLES HERITAGE <PHBK> TO MAKE ACQUISITION
| Peoples Heritage Bank said it
has agreed to purchase Northeast Leasing Co Inc, a Portland,
Maine lessor of office equipment, for about 43,000 common
shares.
It said Norhteast had year-end receivables of 2,700,000
dlrs.
| Corporate News |
CODENOLL TECHNOLOGY CORP <CODN> 4TH QTR LOSS
| Shr loss 12 cts vs loss 17 cts
Net loss 484,556 vs loss 620,607
Sales 2,167,631 vs 1,062,837
Avg shrs 3,985,924 vs 3,935,969
Year
Shr loss 62 cts vs loss 52 cts
Net loss 2,468,605 vs loss 1,788,406
Sales 6,603,285 vs 4,650,585
Avg shrs 3,983,692 vs 3,446,348
| Market and Economy |
OWENS-CORNING <OCF> COMPLETES SALE OF PLANTS
| Owens-Corning Fiberglas Corp said
it has completed the previously-announced sale of its three
foam products plants to Atlas Roofing Corp for undisclosed
terms.
The sale is part of its restructuring, the company said.
| Other |
U.K. Chancellor forecast in budget speech GDP growth of 3.0 pct in 1987
|
U.K. Chancellor forecast in budget speech GDP growth of 3.0 pct in 1987
| Corporate News |
LAWSON FORECASTS 2.5 BILLION STG U.K. CURRENT ACCOUNT DEFICIT IN 1987
|
LAWSON FORECASTS 2.5 BILLION STG U.K. CURRENT ACCOUNT DEFICIT IN 1987
| Corporate News |
CAMPBELL RESOURCES INC 2ND QTR SHR PROFIT THREE CTS VS LOSS 10 CTS
|
CAMPBELL RESOURCES INC 2ND QTR SHR PROFIT THREE CTS VS LOSS 10 CTS
| Corporate News |
GENETIC LABORATORIES INC <GENL> 2ND QTR LOSS
| Period ended Jan 31
Net loss 89,255 vs loss 277,536
Sales 913,136 vs 854,194
Six mths
Net profit 481,372 vs loss 555,722
Sales 1,845,532 vs 1,754,076
| Corporate News |
U.K. BUDGET SEES 1987 GDP GROWTH AT THREE PCT
| Chancellor of the Exchequer Nigel
Lawson, presenting his budget for fiscal 1987/88 to Parliament,
said U.K. Economic growth was forecast at three pct in calendar
1987.
He said the Treasury expected a current account balance of
payments deficit in 1987 of 2.5 billion stg, after a 1.1
billion shortfall ... | Corporate News |
ROYAL RESOURCES <RRCO> MAKES ACQUISITION
| Royal Resources Corp said it has
exercised its optioon to purchase Montagu Mining Investments
Inc from <Samuel Montagu Ltd> of London for 3,600,000 dlrs in
cash and 200,000 common shares.
The company said Montagu's main asset is a 10 pct interest
in the Hog Ranch Joint Venture, which operates the ope... | Financial Reports |
CAMPBELL RESOURCES INC <CCH> 2ND QTR DEC 31 NET
| Shr profit three cts vs loss 10 cts
Net profit 765,000 vs loss 2,600,000
Revs 9,259,000 vs 14,479,000
SIX MTHS
Shr profit three cts vs loss 11 cts
Net profit 875,000 vs loss 2,303,000
Revs 17.7 mln vs 29.2 mln
Note: Campbell changing its yr-end to Dec 31 from June 30.
| Commodities and Trade |
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