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YEN USURPS GODZILLA AS JAPAN'S FAVOURITE HORROR
| "Endaka," the strong yen, has usurped
"Godzilla Versus the Sea Monster" as Japan's favourite horror
story.
The yen's 40 pct surge against the dollar over the last two
years has frightened foreigners with tales of the 40 dlr melon,
the 120 dlr taxi ride from the airport and rents of 15,000 dlrs
a month... | Market and Economy |
BANGLADESH PURCHASE OF WHEAT CONFIRMED
| Trade sources here confirmed earlier
tentative reports that Bangladesh had bought 200,000 tonnes of
optional origin feed wheat late last week and over the weekend.
They said the Continental Grain Co, of the United States,
won the contract to supply the wheat from the EC and other
parts of Europe.
... | Financial Reports |
PHILIPPINES SOCIAL SECURITY TO BUY SAN MIGUEL SHRS
| The Philippines' Social Security System
(SSS) is planning to buy eight mln shares in diversified brewer
<San Miguel Corp> (SMC), SMC chief financial officer Ramon del
Rosario said.
He told reporters the government organisation had expressed
interest in one seat on SMC's 15-man board and was preparing... | Financial Reports |
<SUN HUNG KAI CO LTD> YEAR 1986
| Shr 21.6 H.K. Cents vs 12
Final div six cents vs three, making nine cents vs 5.5
Net 121 mln dlrs vs 67.42 mln
Note - Extraordinary gains 72 mln dlrs vs 2.7 mln. Special
bonus four cents vs nil. Dividend payable May 25, books close
April 28 to May 6.
| Corporate News |
Indonesia imports palm oil to counter possible May shortage, Trade Minister says
|
Indonesia imports palm oil to counter possible May shortage, Trade Minister says
| Financial Reports |
INDONESIA TO IMPORT PALM OIL, FEARS MAY SHORTAGE
| Indonesia has issued licences to
traders to import palm oil to avert a possible shortage of
cooking oil during the Moslem fasting month of Ramadan in May,
Trade Minister Rachmat Saleh told Reuters.
"We have given permission for a small amount of imports to
prevent a shortage during Ramadan," he said. He... | Financial Reports |
ECONOMIC SPOTLIGHT - JAPAN BUYING OVERSEAS FIRMS
| More U.S. And European firms will be
falling prey to Japanese corporations bulging with cash and
eager to extend their reach further overseas, according to
merger and acquisitions specialists polled by Reuters.
Already, rich Japanese companies have pounced on U.S.
Banks, steel and other businesses.
... | Financial Reports |
United Biscuits pretax profit 125.2 mln stg vs 102.2 mln in 53 wks to Jan 3
|
United Biscuits pretax profit 125.2 mln stg vs 102.2 mln in 53 wks to Jan 3
| Financial Reports |
KUWAIT SAYS NO OPEC MEMBER VIOLATING OUTPUT QUOTA
| Kuwaiti Oil Minister Sheikh Ali
al-Khalifa al-Sabah said in a newspaper interview that no OPEC
member was exceeding oil production quotas allocated by the
13-nation group.
Sheikh Ali told Kuwait's daily al-Anba "All OPEC states,
without exception, are producing within the quotas allocated to
them. Som... | Financial Reports |
UNITED BISCUITS <UBIS.L> 53 WEEKS TO JANUARY 3
| Shr 20.3p vs 19.1p
Div 6.0p vs 5.15p making 9.5p vs 8.0p
Turnover 1.93 billion stg vs 1.91 billion
Pretax profit 125.2 mln vs 102.2 mln
Tax 42.5 mln vs 31.1 mln
Trading profit 138.0 mln vs 122.7 mln
Trading profit includes -
UB Foods Europe 88.7 mln vs 78.4 mln
UB Resta... | Corporate News |
LAWSON EXPECTS INTEREST RATE FALL SOON
| U.K. Chancellor of the Exchequer Nigel
Lawson said he expected British interest rates to fall soon in
response to his fiscal 1987/88 budget, but he did not say by
how much.
"I would be very surprised if there is not a very early
further fall in interest rates," Lawson said in a radio
interview.
... | Corporate News |
THAI BANKS WEIGH NEW INTEREST RATE CUT
| Officials of five Thai commercial banks
are expected to meet tomorrow to seek agreement on cutting
interest rates, banking sources said.
They said they expect Thai banks to opt for a cut to spur
domestic loan demand to help reduce persistent high liquidity
on the money market.
Many bankers have be... | Other |
CATHAY PACIFIC FORECASTS GOOD 1987 PERFORMANCE
| Cathay Pacific Airways Ltd <CAPH.HK>
forecast another good year in 1987 in view of good growth in
both passenger and cargo traffic volumes early this year over
the year-earlier period.
The airline did not quantify its performance in early 1987
but said it would take delivery of one Boeing Co <BA.N... | Corporate News |
MALAYSIAN PALM KERNEL OUTPUT FALLS IN FEBRUARY
| Malaysian palm kernel output fell
to an estimated 80,500 tonnes in February from a revised 83,231
(originally 83,700) in January and 98,393 in February 1986, the
Palm Oil Registration and Licensing Authority said.
Palm kernel stocks dropped to an estimated 45,870 tonnes in
February from a revised 55,693... | Corporate News |
Morgan Grenfell 1986 pretax profit 82.19 mln stg vs 68.82 mln
|
Morgan Grenfell 1986 pretax profit 82.19 mln stg vs 68.82 mln
| Commodities and Trade |
<MORGAN GRENFELL GROUP PLC> 1986 YEAR
| Shr basic 39.2p vs 36.0p
Shr fully diluted 37.2p vs 34.3p
Div 7.0p making 10.5p vs 8.5p
Pretax profit 82.19 mln stg vs 68.82 mln
Tax 27.25 mln vs 27.42 mln
Minority interest 986,000 debit vs 124,000 credit
Extraordinary items 411,000 credit vs 219,000 debit
| Financial Reports |
GLOBAL TRADING IN YEN BOND FUTURES EXPECTED SOON
| Global trading of yen bond futures is
just around the corner and they are expected to be listed soon
on the London International Financial Futures Exchange (LIFFE)
and the Chicago Board of Trade (CBOT), bond managers said.
"Internationalisation of the yen through expansion of
overseas portfolios in yen ... | Financial Reports |
HENDERSON LAND DEVELOPMENT CO LTD <HNDH.HK>
| Six months to Dec 31.
Shr 16 H.K. Cents vs 11
Interim div seven cents vs five
Net 211.03 mln dlrs vs 138.69 mln
Turnover 583.83 mln dlrs vs 441.04 mln
Note - Dividend payable May 4, books close April 21 to 27.
| Financial Reports |
U.K. MONEY MARKET OFFERED EARLY ASSISTANCE
| The Bank of England said it had invited
an early round of bill offers from the discount houses after
forecasting a shortage in the system of around 1.1 billion stg.
Money market dealers speculated that the central bank could
be taking the opportunity to signal a reduction in U.K. Base
lending rates by c... | Corporate News |
SINGAPORE GOVERNMENT TAKES OVER GOODWOOD SHARES
| The Singapore government has taken
over 82 mln dlrs worth of Goodwood Park Hotel Ltd shares and
loan stock certificates belonging to the company's chairman,
Khoo Teck Puat, banking sources said.
Khoo is a major shareholder of the <National Bank of Brunei
Bhd> (NBB), which closed in November after the... | Financial Reports |
BANK OF ENGLAND SIGNALS HALF POINT CUT IN SHORT TERM RATES - DEALERS
|
BANK OF ENGLAND SIGNALS HALF POINT CUT IN SHORT TERM RATES - DEALERS
| Commodities and Trade |
BANK OF ENGLAND SAID IT INVITED BORROWINGS AT 10 PCT LATER TODAY
|
BANK OF ENGLAND SAID IT INVITED BORROWINGS AT 10 PCT LATER TODAY
| Commodities and Trade |
BARCLAYS BANK SAID ITS CUTTING BASE LENDING RATE TO 10 PCT PCT FROM 10.5 PCT.
|
BARCLAYS BANK SAID ITS CUTTING BASE LENDING RATE TO 10 PCT PCT FROM 10.5 PCT.
| Commodities and Trade |
NATIONAL WESTMINSTER BANK SAID IT CUTTING BASE RATE TO 10 PCT FROM 10.5 PCT.
|
NATIONAL WESTMINSTER BANK SAID IT CUTTING BASE RATE TO 10 PCT FROM 10.5 PCT.
| Corporate News |
TOYOTA MOTORS SIGNS PURCHASE AGREEMENT WITH PNB
| The state-owned Philippine National Bank
(PNB) will fund Toyota Motor Corp's <TOYO.T> planned purchase
of its bankrupt former local partner's manufacturing facilities
for at least 193 mln pesos, a bank official told reporters.
Toyota has informed the Philippine government it plans to
produce cars aga... | Financial Reports |
BANK OF ENGLAND INVITES BORROWING AT 10 PCT
| The Bank of England said it had invited
those discount houses wishing to use borrowing facilities to do
so at 1430 GMT today at a rate of 10 pct for 14 days.
This compares with the Bank's present band one dealing rate
of 10-3/8 pct.
The Bank of England's announcement was quickly followed by
Barcla... | Financial Reports |
GERMAN PRODUCER PRICES FALL 0.3 PCT IN FEBRUARY
| West German producer prices fell 0.3
pct in February from January and were 4.2 pct below prices in
February last year, the Federal Statistics Office said.
In January, producer prices rose 0.2 pct from December, the
first monthly rise since October 1985, but they were down 4.4
pct from a year earlier.
... | Corporate News |
HOLZSTOFF AG <GHOZ.BS> 1986 YEAR
| Net profit 25.5 mln Swiss francs vs 22.2
mln
Turnover 717 mln vs 739 mln
Cash flow 75.4 mln vs 58.1 mln
Proposed dividend 70 francs vs same
Note - Company plans one for two rights issue of 40,000
participation certificates of nominal 50 francs. Conditions not
yet set.
| Commodities and Trade |
VEBA SHARE PLACEMENT STILL EXPECTED THIS MONTH
| The sale of the government's 25.55 pct
stake in VEBA AG <VEBG.F> is still expected this month, banking
sources closely linked with the transaction said.
A spokesman for the Finance Ministry said no exact date had
yet been set for the privatisation, which the government has
tabled for the second half ... | Corporate News |
SOVIET ECONOMIST SAYS PRODUCTION FIGURES PADDED
| A leading Soviet economist said the
practice of padding figures was significantly inflating the
country's industrial production data.
"According to the information of state monitoring organs,
the padding of figures makes up one-and-a-half to three per
cent of the volume of production," Alexei Sergeyev t... | Industrial and Sector News |
SONY FORESEES CONTINUED SLUMP IN EARNINGS
| Sony Corp <SNE.T> group net income is
expected to be down 65 pct for the five months ending March 31
from the same period a year ago at around 10 billion yen, if
the yendollar rate remains at the present level, managing
director Tsunao Hashimoto told a press conference.
Sony will have an irregular fi... | Financial Reports |
KLM DENIES PRESS REPORT OF AIR ATLANTA TAKEOVER
| NV KLM Royal Dutch Airlines <KLM.AS>
is "absolutely not" negotiating a takeover of U.S. Regional
carrier Air Atlanta, a KLM spokeswoman said in a comment on an
article in the leading Dutch evening paper NRC Handelsblad.
"U.S. Law requires that at least 75 pct of shares in a U.S.
Airline be owned by A... | Financial Reports |
BELGIAN BANK SAID TO SEE SLOWER GROWTH
| An internal report produced by the
Belgian National Bank foresees the country's gross national
product growth falling in 1987 to 1.0 pct from 2.3 pct in 1986,
the independent newspaper Le Soir said.
A National Bank spokesman said the newspaper article was
basically correct, but that the report was produ... | Financial Reports |
SPAIN'S INFLATION RISES 0.4 PCT IN FEBRUARY
| Spain's consumer price index rose 0.4
pct in February after increases of 0.7 pct the previous month
and 0.4 pct in February last year, National Statistics
Institute figures show.
Year-on-year inflation was six pct compared with the
government five pct target for 1987. It rose 8.3 pct last year.
| Industrial and Sector News |
TAIWAN BUYS 462,000 TONNES OF U.S. MAIZE
| The joint committee of Taiwan's maize
importers awarded contracts to five U.S. Companies to supply a
total of 462,000 tonnes of maize for delivery between May 10
and October 10, a committee spokesman said.
Cigra Inc won a contract for a cargo of 56,000 tonnes,
priced at 79.41 U.S. Dlrs per tonne fob pac... | Financial Reports |
LAWSON SAYS HE IS CONTENT WITH CURRENT STERLING EXCHANGE RATE
|
LAWSON SAYS HE IS CONTENT WITH CURRENT STERLING EXCHANGE RATE
| Financial Reports |
LAWSON SAYS HE FAVOURS GRADUAL APPROACH TO CUTS IN U.K. INTEREST RATES
|
LAWSON SAYS HE FAVOURS GRADUAL APPROACH TO CUTS IN U.K. INTEREST RATES
| Corporate News |
U.K. MONEY MARKET SHORTAGE FORECAST REVISED UP
| The Bank of England said it revised up
its estimate of the deficit in the system today to 1.3 billion
stg from 1.1 billion.
The Bank has not provided any assistance to the market so
far today but earlier invited the discount houses to use their
borrowing facilities at 1430 GMT today and set the terms at... | Financial Reports |
GULF APPLIED <GATS> SELLS UNITS, SEES GAIN
| Gulf Applied Technologies Inc said it
sold its pipeline and terminal operations units for 12.2 mln
dlrs and will record a gain of 2.9 mln dlrs in the first
quarter.
It added that any federal taxes owed on the transaction
will be offset by operating loss carryovers.
| Commodities and Trade |
LAWSON HAPPY WITH STERLING, BACKS LATEST RATE CUT
| Chancellor of the Exchequer Nigel Lawson
said he was content with the current level of sterling and
welcomed today's announcement of a further half point cut in
British bank base lending rates to 10 pct.
However, he said he wanted to see a gradual approach to
declines in domestic U.K. Interest rates, al... | Financial Reports |
DIXONS HAS 56 PCT OF CYCLOPS CORP
| Dixons Group Plc <DXNS.L> said its
tender offer for all of the common shares in <Cyclops Corp> of
the U.S. Expired at midnight yesterday and that it had accepted
approximately 2.3 mln shares in the company at 90.25 dlrs each.
This represents just over 54 pct of the outstanding shares
on a fully di... | Market and Economy |
IRAQ SAYS IT ATTACKS TWO SHIPS IN GULF
| Iraq said its warplanes hit two ships
off the Iranian coast in attacks last night and early today.
The planes "dealt accurate and effective blows to both
maritime targets before they returned safely to base," a
military spokesman told the Iraqi new agency INA.
There was no immediate confirmation of ... | Corporate News |
ICCO delegates accept principles of buffer stock compromise as negotiation base
|
ICCO delegates accept principles of buffer stock compromise as negotiation base
| Market and Economy |
NEW ZEALAND ECONOMY FORECAST TO IMPROVE IN 1987/88
| New Zealand's inflation and interest
rates should decline and the balance of payments improve
significantly in the fiscal year to the end of March 1988, the
Institute of Economic Research (NZIER) said.
The independent institute said in its quarterly March issue
that it was also revising its fiscal 1987 ... | Corporate News |
ICCO MEMBERS ACCEPT BUFFER STOCK PRINCIPLES
| International Cocoa Organization (ICCO)
producers and consumers accepted the principles of a compromise
proposal on buffer stock rules as a basis for further
negotiation, delegates said.
The buffer stock working group then asked ICCO Executive
Director Kobena Erbynn, who wrote up the draft compromise, t... | Financial Reports |
AFG <AFG>, WAGNER/BROWN BID FOR GENCORP <GY>
| <General Partners>, controlled by
privately-held Wagner and Brown and by AFG Industries Inc, said
it has started a tender offer for all common shares of GenCorp
Inc and associated defensive preferred share purchase rights
for 100 dlrs a share.
GenCorp stock closed yesterday in composite tape trading ... | Financial Reports |
EGYPT REJECTS VEG OIL OFFERS, TO RETENDER
| Egypt rejected all offers at a vegetable
oil import tender yesterday for unspecified amounts of
sunflowerseed oil and/or cottonseed oil, traders said. It has
asked for a renewal of offers on March 24.
Exporters said they were not prepared to offer material on
Egypt's new landed contract terms which incl... | Financial Reports |
TEXACO <TX> TO CEASE POSTING TEXAS OIL PRICE
| Texaco Refining and Marketing, an
operating subsidiary of Texaco Inc, said it would cease to post
crude oil prices for West Texas crudes at the end of this month
following a decision to discontinue purchase of crude oil from
leases, a Texaco spokesman in Houston said.
But it will continue to purchase qu... | Corporate News |
IVORY COAST MINISTER DELAYED FOR COCOA TALKS
| Ivorian Agriculture Minister Denis Bra
Kanon, chairman of the International Cocoa Organization (ICCO)
council, will not be able to open the council session here
tomorrow, an Ivorian ICCO delegate told Reuters.
He will arrive sometime later during the meetings here, the
delegate said. The council session... | Corporate News |
U.S. REAL GNP ROSE REVISED 1.1 PCT IN 4TH QTR INSTEAD OF 1.3 PCT RISE
|
U.S. REAL GNP ROSE REVISED 1.1 PCT IN 4TH QTR INSTEAD OF 1.3 PCT RISE
| Financial Reports |
U.S. GNP PRICE DEFLATOR ROSE 0.7 PCT IN 4TH QTR, UNCHANGED
|
U.S. GNP PRICE DEFLATOR ROSE 0.7 PCT IN 4TH QTR, UNCHANGED
| Market and Economy |
MATRIX SCIENCE <MTRX> SETS STOCK SPLIT
| Matrix Science Corp said its
board declared a two-for-one stock split and a six-cent per
share (pre stock split) dividend, payable May 7 to stockholders
of record April 16.
The company said the dividend is in addition to the ten cts
per share dividend paid January 2, 1987, making the post stock
split ... | Financial Reports |
SEA GALLEY STORES INC <SEAG> 4TH QTR DEC 28 LOSS
| Shr loss 69 cts vs loss 1.45 dlrs
Net loss 2,015,000 vs loss 4,268,000
Revs 16.6 mln vs 16.9 mln
Year
Shr loss 1.21 dlrs vs loss 59 cts
Net loss 3,514,000 vs loss 1,839,000
Revs 58.8 mln vs 61.4 mln
| Commodities and Trade |
COCONUT OIL CONTRACT TO CHANGE - DUTCH TRADERS
| Contract terms for trade in coconut
oil are to be changed from long tons to tonnes with effect from
the Aug/Sep contract onwards, Dutch vegetable oil traders said.
Operators have already started to take account of the
expected change and reported at least one trade in tonnes for
Aug/Sept shipment yester... | Financial Reports |
FAR WEST FINANCIAL <FWFP> TO BUY PROGRESSIVE
| Far West Financial Corp
said its Far West Savings and Loan Association unit has reached
an agreement in principle to acquire all the outstanding stock
of Progressive Savings and Loan Association <PRSL>.
Far West said it does not expect the cost of the
transaction to exceed 15 mln dlrs.
Progress... | Corporate News |
COASTAL <CGP> SAYS TRANSAMERICAN SUIT FRIVOLOUS
| Coastal Corp said it belives the two
billion dlr suit against it by <TransAmerican Natural Gas Corp>
in Texas state court is frivolous and without merit.
The company said it intends toi proceed with filing a
reorganization plan for TransAmerican with the U.S. Bankruptcy
Court in Houston.
Yester... | Commodities and Trade |
BUNDESBANK SEEN STEERING STEADY MONETARY COURSE
| The Bundesbank is likely to steer a
steady monetary course over the next few weeks and a change in
credit policies is not expected at tomorrow's regular central
bank council meeting, bank economists and dealers said.
"There is no need for action," Hermann Remsperger, chief
economist of Berliner Handels-... | Financial Reports |
U.S. REAL GNP ROSE 1.1 PCT IN FOURTH QUARTER
| The U.S. Gross National Product,
after removing the impact of inflation, increased at a revised
annual rate of 1.1 pct in the fourth quarter, the Commerce
Department said.
That was down from an earlier preliminary 1.3 pct rise
estimated a month ago and down from the 2.1 pct rise in the
fourth quarter ... | Financial Reports |
JAPAN TELECOM MERGER COULD INVOLVE U.K.,U.S. FIRMS
| Cable and Wireless PLC <CAWL.L> and the
Pacific Telesis group <PAC.N> may take part in a proposed
merger of two rival firms seeking to enter Japan's
international telecommunications market, a senior industry
official said.
Fumio Watanabe, head of a telecommunications committee with
the Federatio... | Market and Economy |
FERRUZZI NEGOTIATING EUROPEAN ACQUISITION
| Italy's <Gruppo Ferruzzi> is in the
advanced stages of negotiations that could result in an
acquisition worth "some hundreds of billions of lire" in the
European agro-industrial sector, a company spokesman told
Reuters.
The spokesman declined to identify the other party or
parties involved in talks... | Corporate News |
MALAYSIA TO CUT OIL OUTPUT FURTHER, TRADERS SAY
| Malaysia's state oil company Petronas
will cut oil production to 420,000 barrels per day (bpd) from
May 1, trade sources said.
Malaysia cut its 510,000 bpd target output by 10 pct last
September to support Opec moves to boost prices, and the latest
cut would reduce output by 17.5 pct from 1986's target ... | Corporate News |
INTERCARE <CARE> SAYS ACQUISITION TERMINATED
| InterCare Inc said it has
agreed to terminate the proposed acquisition of <Universal
Care> because <First Jersey Securities> has withdrawn as
underwriter for a proposed offering of InterCare securities.
The company said the offering was to have raised 7,500,000
dlrs for working capital through the... | Corporate News |
RANK ORGANISATION CURRENT TRADING SATISFACTORY
| Rank Organisation Plc <RANK.L> said
trading in the current year had continued satisfactorily taking
into account seasonal fluctuations.
Association companies, such as <Rank-Xerox Ltd>, indicated
an improved performance, a statement issued at the annual
meeting said.
It said it planned to spe... | Corporate News |
HARCOURT BRACE SETS MARCH 30 DEADLINE IN HARPER AND ROW BID
|
HARCOURT BRACE SETS MARCH 30 DEADLINE IN HARPER AND ROW BID
| Financial Reports |
SHIPS HELD UP AT CALCUTTA
| Some 10 Indian ships have been held up
at Calcutta port after four days of industrial action by local
seamen, a spokesman for the shipowners' association INSA said.
The dispute has prevented local crewmen signing on and off,
but has not affected foreign ships with international crews
docking at Calcutta... | Corporate News |
COOPERVISION INC <EYE> 1ST QTR JAN 31 NET
| Shr 3.65 dlrs vs 33 cts
Net 82.5 mln vs 7,300,000
Sales 94.4 mln vs 85.4 mln
Avg shrs 22.6 mln vs 21.7 mln
NOTE: Current year net includes pretax gain 175.2 mln dlrs
on sale of ophthalmic business and loss 17.9 mln dlrs posttax
from repurchase of debt.
Prior year net includes 120,000... | Financial Reports |
COOPERVISION <EYE> DELAYS ANNUAL MEETING
| CooperVision Inc said it has
delayed its annual meeting to June 22 from May 14 to allow its
board to review possible recapitalization options before the
meeting.
CooperVision today reported first quarter net income of
64.6 mln dlrs, after a 175.2 mln dlr pretax gain from the sale
of its ophthalmic bus... | Financial Reports |
GREAT ATLANTIC AND PACIFIC TEA CO 4TH QTR OPER SHR 55 CTS VS 36 CTS
|
GREAT ATLANTIC AND PACIFIC TEA CO 4TH QTR OPER SHR 55 CTS VS 36 CTS
| Other |
MOBEX SAYS ABOUT 87 PCT OF GRANT <GTX> TENDERED
| Mobex Corp said 2,088,461 Grant
Industries Inc common shares, about 87 pct of the 2.4 mln
outstanding, have been tendered in response to Mobex's offer.
The company said its offer of 7.75 dlrs a share for the
stock has been extended to 2000 EST March 23 from 2400 March 17.
| Financial Reports |
HARCOURT BRACE <HBJ> SETS HARPER <HPR> DEADLINE
| Harcourt Brace Jovanovich Inc
said it has told Harper and Row Publishers Inc representatives
that it intends to withdraw its proposal to acquire Harper and
Row for 50 dlrs per share in cash if the parties have not made
satisfactory progress in discussions by the close of business
on March 30.
Harcourt... | Other |
DIXONS GROUP SAID IT ACCEPTS 54 PCT OF CYCLOPS SHARES IN TENDER
|
DIXONS GROUP SAID IT ACCEPTS 54 PCT OF CYCLOPS SHARES IN TENDER
| Financial Reports |
BANKERS TRUST ISSUING STG/DLR CURRENCY WARRANTS
| Bankers Trust International Ltd said it
is issuing 200,000 stg call/dlr put currency warrants at an
initial offer price of 31.25 dlrs per warrant.
The issue is guaranteed by Bankers Trust New York Corp.
Each warrant entitles the holder to exchange 500 dlrs for
stg at a rate of 1.60 stg/dlr and the m... | Corporate News |
GREAT ATLANTIC AND PACIFIC TEA CO <GAP> 4TH QTR
| Oper shr 55 cts vs 36 cts
Oper net 20.7 mln vs 13.6 mln
Sales 2.34 billion vs 1.58 billion
Avg shrs 38.1 mln vs 37.7 mln
Year
Oper shr 1.82 dlrs vs 1.48 dlrs
Oper net 69.0 mln vs 56.1 mln
Sales 7.83 billion vs 6.62 billion
Avg shrs 38.0 mln vs 37.8 mln
NOTES: Resu... | Financial Reports |
GROUP TENDERING FOR GENCORP SAYS IT HOLDS ABOUT 9.8 PCT OF GENCORP COMMON
|
GROUP TENDERING FOR GENCORP SAYS IT HOLDS ABOUT 9.8 PCT OF GENCORP COMMON
| Commodities and Trade |
ROTTERDAM SIGNS COOPERATION AGREEMENT WITH TOKYO
| The city of Rotterdam today signed an
agreement in principle to cooperate with the AOMI Cargo
Distribution Centre in Tokyo.
Acting Mayor Roel den Dunnen said that cooperation between
private and public entities in the Tokyo and Rotterdam area,
and a fruitful exchange of information have a favourable
i... | Financial Reports |
DAVY CORP UNIT WINS INDIA SMELTER CONTRACT
| Davy McKee Ltd, a subsidiary of U.K.
Engineering and contruction company Davy Corp Plc, has been
awarded a contract worth around 15 mln stg for the design of a
zinc and lead smelter in India, a spokesman for the company
said.
The contract is being funded by Britain's Overseas
Development Administratio... | Corporate News |
U.K. MONEY MARKET GIVEN 15 MLN STG AFTERNOON HELP
| The Bank of England said it had provided
the money market with a further 15 mln stg assistance. This
brings the Bank's total help so far today to 344 mln stg and
compares with the estimated shortage of around 1.3 billion stg.
The central bank purchased bank bills outright, at the
lower dealing rates est... | Financial Reports |
WEST GERMAN BANKS SLOWLY CUTTING KEY SAVINGS RATES
| West German commercial banks are
cautiously cutting key savings and lending rates, banking
sources said. The cuts follow nearly two months after the
Bundesbank reduced leading interest rates, far longer than the
usual interim period.
A Deutsche Bank AG <DBKG.F> spokesman said it is cutting
leading ... | Financial Reports |
TOYS "R" US INC <TOY> 4TH QTR FEB ONE NET
| Shr 89 cts vs 68 cts
Net 116.0 mln vs 88.1 mln
Revs 1.17 billion vs 924.0 mln
12 mths
Shr 1.17 dlrs vs 93 cts
Net 152.2 mln vs 119.8 mln
Revs 2.44 billion vs 1.97 billion
NOTE: net 1986 were restated to reflect three-for-two stock
split on June 27, 1986.
| Corporate News |
MEASUREX CORP <MX> 1ST QTR NET
| Shr 34 cts vs 27 cts
Qtrly div six cts vs 4.5 cts prior
Net 6,448,000 vs 4,969,000
Revs 51.1 mln vs 44.7 mln
Avg shrs 19.1 mln vs 18.7 mln
NOTE: pay for dividend was March 11 to shareholders of
record on Feb 20.
| Financial Reports |
PALMER LEWIS CO INC <LWIS> 4TH QTR NET
| Qtr ends Jan 31
Shr three cts vs one cent
Qtrly div seven cts vs seven cts prior
Net 106,185 vs 28,871
Revs 46.9 mln vs 30.3 mln
12 mths
Shr 33 cts vs 23 cts
Net 1,306,595 vs 878,484
Revs 187.2 mln vs 140.8 mln
NOTE: effective July One, 1986, the company acquired ... | Corporate News |
CAPITAL CITIES/ABC <CCB> SETS PAYOUT
| Qtrly div five cts vs five cts
Pay April 20
Record March 30
| Financial Reports |
PUBLICKER INDUSTRIES INC <PUL> 4TH QTR LOSS
| Shr loss five cts vs loss 15 cts
Net loss 619,000 vs loss 1,730,000
Sales 3,138,000 vs 5,667,000
Avg shrs 12.5 mln vs 11.5 mln
Year
Shr loss four cts vs loss 40 cts
Net loss 343,000 vs loss 3,963,000
Sales 13.4 mln vs 35.3 mln
Avg shrs 12.5 mln vs 10.3 mln
| Other |
FEDERAL EXPRESS CORP 3RD QTR OPER SHR 69 CTS VS 83 CTS
|
FEDERAL EXPRESS CORP 3RD QTR OPER SHR 69 CTS VS 83 CTS
| Financial Reports |
BELL ATLANTIC CORP <BEL> INCREASES PAYOUT
| Qtrly div 96 cts vs 90 cts
Pay May One, 1987
Record March 31, 1987
| Financial Reports |
RHODES <RHDS> SEES SHARPLY LOWER 4TH QTR NET
| Rhodes Inc said it now estimates fourth
quarter, ended February 28, earnings were eight cts a share,
down from the 25 cts earned in the final quarter of fiscal
1986.
The company said the major causes for the reduction were an
unfavorable LIFO adjustment and softer than projected sales in
the quarter, ... | Financial Reports |
GENCORP <GY> GROUP HOLDS 9.8 PCT STAKE
| (General Partners), a Texas general
partnership equally owned by affiliates of Wagner and Brown and
AFG Industries Inc <AFG>, said it currently holds 2,180,608
common shares, or about 9.8 pct, of Gencorp Inc's <GY>
outstanding common stock.
General Partners said it began a 100 dlrs a share cash
... | Financial Reports |
THAI TRADE DEFICIT WIDENS IN FEBRUARY
| Thailand's trade deficit widened to an
estimated 4.7 billion baht in February from 2.1 billion in
January and 2.8 billion a year ago, the Bank of Thailand said.
Exports fell to around 18.9 billion baht from 20.4 billion
in January compared with 17.4 billion a year ago, the bank
said.
Imports rose ... | Corporate News |
A AND P <GAP> SETS HIGHER CAPITAL SPENDING
| The Great Atlantic and Pacific
Tea Co said its three-year 345 mln dlr capital program will be
be substantially increased to accommodate growth and expansion
plans for Waldbaum Inc and Shopwell Inc over the next two
years.
A and P said the acquisition of Shopwell in August 1986 and
Waldbaum in December... | Commodities and Trade |
FEDERAL EXPRESS CORP <FDX> 3RD QTR FEB 28 NET
| Oper shr 69 cts vs 83 cts
Oper net 35.9 mln vs 42.4 mln
Revs 798.9 mln vs 659.2 mln
Avg shrs 52.0 mln vs 50.9 mln
Nine mths
Oper shr 2.38 dlrs vs 2.75 dlrs
Oper net 123.3 mln vs 135.6 mln
Revs 2.31 billion vs 1.86 billion
Avg shrs 51.8 mln vs 49.3 mln
NOTE: Net ex... | Other |
MORGAN GRENFELL SAYS 1986 PROFITS HIT BY GUINNESS
| <Morgan Grenfell Group Plc> said its
1986 pre-tax profits were lower than forecast because of
depreciation in the value of its Guinness Plc <GUIN.L> shares
and because of securities trading losses in the U.S.
Morgan chairman Lord Catto said the losses on the group's
seven mln Guinness shares in ad... | Financial Reports |
SEC MOVES TO DISCIPLINE ALLEGHENY INT'L <AG>
| The Securities and Exchange
Commission (SEC) staff is seeking authority to take enforcement
action against Allegheny International Inc, the
Pittsburgh-based industrial and consumer products firm said.
Allegheny made the disclosure in documents filed with the
SEC in connection with its recent agreement t... | Financial Reports |
UNITED ASSET MANAGEMENT CORP <UAM> UPS PAYOUT
| Qtly div four cts vs three cts prior
Pay April 15
Record March 31
| Financial Reports |
KINDER-CARE INC <KNDR> FIRST QTR NET
| Qtr ends dec 31
Shr one cent vs 15 cts
Net 466,000 vs 6,866,000
Revs 123.1 mln vs 93.5 mln
NOTE: the company changed its fiscal year end from Aug 31
to Dec 31. qtr prior ended Jan 17, 1986 and included two more
weeks than current qtr.
current qtr includes loss 899,000 for accounting ... | Market and Economy |
ULTRASYSTEMS INC <ULS> 4TH QTR JAN 31 NET
| Shr 26 cts vs 18 ctsd
Net 2,102,000 vs 1,415,000
Revs 44.1 mln vs 42.2 mln
Year
Shr 21 cts vs 91 cts
Net 1,678,000 vs 7,105,000
Revs 155.1 mln vs 149.2 mln
Avg shrs 7,960,000 vs 7,808,000
NOTE: Latest year net includes writeoff of investment in
Dawn Enterprises ethano... | Corporate News |
CANAMAX TO ACQUIRE KREZMAR GOLD PROPERTY STAKE
| <Canamax Resources Inc> said it agreed
to acquire the 50 pct interest it does not already own in the
Krezmar gold property, near Wawa, Ontario, by paying nine mln
dlrs to <Algoma Steel Corp Ltd> and granting Algoma a four pct
net smelter return royalty, which is payable after payback.
The property... | Financial Reports |
NFS FINANCIAL <NFSF> SETS INITIAL DIVIDEND
| NFS Financial Corp said its board
declared an initial dividend of five cts per share, payable
April 21 to holders of record March 31.
| Financial Reports |
VW'S AUDI SAYS PROFIT FELL AROUND 50 PCT IN 1986
| Audi AG <NSUG.F>, the 99 pct owned
subsidiary of Volkswagen AG <VOWG.F>, said profit in 1986 fell
by around half compared with 1985, when it achieved a record
221 mln marks net profit, a rise of 19.5 pct on the previous
year.
Managing board chairman Wolfgang Habbel told a news
conference he expe... | Market and Economy |
BANK OF ENGLAND LENDS ONE BILLION STG AT 10 PCT
| The Bank of England said it had lent one
billion stg to the discount market for fourteen days at 10 pct.
This brings the Banks total help today to some 1.34 billion
stg and satisfies the estimated shortage in the system today
which it had earlier estimated at 1.3 billion stg.
The Bank's announcement... | Market and Economy |
UK INTERVENTION BD SAYS EC SOLD 60,500 TONNES WHITE SUGAR AT REBATE 44.819 ECUS.
|
UK INTERVENTION BD SAYS EC SOLD 60,500 TONNES WHITE SUGAR AT REBATE 44.819 ECUS.
| Industrial and Sector News |
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