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MONSANTO <MTC> SAYS DEBT WAS CUT IN 1986
| Mondanto Co said it has paid off
two-thirds of the debt from its 2.8 billion-dlr acquisition of
G.D. Searle and Co by the end of 1986.
This lowered the company's debt-to-capitalization ratio
from 45 pct at the end of 1985 to 35 pct, it said.
The company also said that chemical sales accounted for 52... | Corporate News |
FRANKLIN MASSACHUSETTS INSURED CUTS PAYOUT
| Mthly div 6.5 cts vs 6.8 cts prior
Pay March 31
Record March 16
NOTE: Franklin Massachusetts Insured Tax-Free Income Fund.
| Corporate News |
LIFESTYLE <LIF>, BOMBAY AMEND MERGER AGREEMENT
| Lifestyle Restaurants Inc said it
reduced the number of Bombay Palace Restaurants inc common
shares to be received in its previously announced merger
agreement.
Under the amended deal, Lifestyle shareholders will get one
Bombay share for each six instead of five Lifestyle shares.
Under the amended off... | Financial Reports |
WEISFIELD'S INC <WEIS> QUARTERLY DIVIDEND
| Qtly div 12-1/2 cts vs 12-1/2 cts
Pay April 23
Record April 2
| Other |
BOLIVIAN TIN MINERS START HUNGER STRIKE
| About 9,000 miners employed by the
state corporation Comibol went on hunger strike to press for
higher wages, a miners union spokesman said.
Victor Lopez, executive secretary of the miners union,
told a news conference the strikers began to fast in the major
tin mining districts of oruro and potosi and... | Corporate News |
CZARNIKOW EXPECTS LOWER EUROPEAN SUGAR OUTPUT
| European sugar output on the basis of
three year average yields will be over half a mln tonnes white
value down on last year although yields do vary widely from
year to year, broker C Czarnikow said in its market review.
European Community sowings are likely to be down compared
with last year. There hav... | Corporate News |
CUBAN SUGAR OUTPUT SEEN AT 7.5 MLN TONNES
| Cuban sugar output this season (1986/87)
is put at around 7.5 mln tonnes raw value by broker C.Czarnikow
in its monthly sugar market review.
Allowing for around 700,000 tonnes for the current year's
domestic usage it would leave around 6.8 mln tonnes for export
of which, Czarnikow estimates, about 3.7 m... | Financial Reports |
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 20,349 WHEAT 14,070 CORN 21,989
|
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 20,349 WHEAT 14,070 CORN 21,989
| Corporate News |
U.S. CARGO PREFERENCE FUNDING ACCORD SEEN NEAR
| The U.S. Departments of Agriculture
and Transportation are close to agreement on how to fund the
increasing share of food aid to be shipped on U.S. flag vessels
under a 1985 farm bill provision on cargo preference.
Melvin Sims, USDA's general sales manager told a House
Agriculture Appropriations subcomm... | Other |
AUSTRALIAN FOURTH QTR GDP RISES 1.1 PCT, AFTER 0.2 PCT THIRD QTR RISE - OFFICIAL.
|
AUSTRALIAN FOURTH QTR GDP RISES 1.1 PCT, AFTER 0.2 PCT THIRD QTR RISE - OFFICIAL.
| Market and Economy |
AUSTRALIAN GDP RISES 1.1 PCT IN FOURTH QUARTER
| Australia's seasonally adjusted real
gross domestic product (GDP) rose 1.1 pct in the fourth quarter
of 1986 after rising 0.2 pct in the third quarter, the
Statistics Bureau said.
This compares with a 1.1 pct fall in the fourth quarter of
1985.
Compared with the year-earlier quarter, GDP also rose... | Market and Economy |
NIPPON LIFE SEEKING TIE WITH U.S. SECURITIES HOUSE
| <Nippon Life Insurance Co> is pursing a
possible link with an American securities house to expand its
overseas investment portfolio, a company spokesman said.
But he declined to comment on rumours the company would
take a 10 pct stake in <Shearson Lehman Brothers>, an
investment banking unit of Am... | Market and Economy |
FORMER N.Z. PREMIER CALLS FOR CHEAPER CURRENCY
| Former Prime Minister Robert
Muldoon, an outspoken advocate of a managed float for the N.Z.
Dollar, said the currency is at least 10 pct overvalued.
Muldoon said in a speech last night the exchange rate
should be around 48 U.S. Cents instead of the current 57 cents.
"A reasonable value for the New Z... | Financial Reports |
TAIWAN SETS 1987 CANADIAN WHEAT IMPORT TARGET
| The Taiwan Flour Mills Association will
import 81,000 tonnes of wheat from Canada in calendar 1987,
unchanged from the 1986 level, an association spokesman told
Reuters.
He said the total will be delivered in three shipments. The
first will be shipped to Taiwan between March 20 and April 20
and the ot... | Corporate News |
FRANKLIN CALIFORNIA TAX-FREE SETS PAYOUT
| Mthly div 6.5 cts vs 6.5 cts prior
Pay March 31
Record March 16
NOTE: Franklin California Insured Tax-Free Income Fund.
| Financial Reports |
NEW ZEALAND UNEMPLOYMENT FALLS IN FEBRUARY
| New Zealand's unemployment rate fell
to 6.0 pct of the workforce at the end of February from 6.1 pct
in January but was above the 4.3 pct level of February 1986,
the labour department said.
It said the number of unemployed fell to 78,711 from 81,558
in January, and compared with 57,103 in February 1986.... | Financial Reports |
JAPAN MARCH INTERIM TRADE SURPLUS FALLS
| Japan's customs-cleared trade surplus
fell to 1.89 billion dlrs in the first 10 days of March from a
1.91 billion surplus a year earlier, the Ministry of Finance
said.
The March interim surplus compared with a 1.70 billion dlr
surplus in the same February period.
FOB exports in the first 10 days... | Financial Reports |
MITSUI AND CO BUYS STAKE IN IMATRON
| A Mitsui and Co <MITS.T> spokesman said
its subsidiary <Mitsui and Co USA Inc> bought two mln dlrs of
newly-issued shares in <Imatron Inc>, an unlisted
California-based medical equipment manufacturer.
Mitsui and Co USA is now Imatron's fifth-largest
shareholder with 3.1 pct of the firm's outsta... | Corporate News |
INDONESIA SEES LIMITED CHOICES ON ECONOMY
| Indonesia cannot spend its way out of
recession and has very limited economic options due to lower
world oil prices, Central Bank governor Arifin Siregar was
quoted as saying by the official Antara news agency.
"If Indonesia spurs its economic growth too much, such as
through expansionary monetary and b... | Corporate News |
NEW ZEALAND RETAIL SALES SLOW IN JANUARY
| Seasonally adjusted retail sales
rose by 0.1 pct in January, compared with increases of 5.7 pct
in December and 1.0 pct a year earlier, the Statistics
Department said.
It said in a statement actual retail sales fell to 1.87
billion N.Z. Dlrs in January against 2.42 billion a month
earlier and compared... | Commodities and Trade |
SOME 7,000 SOUTH AFRICAN MINERS RETURN TO WORK
| Some 7,000 black workers returned
to work after staging one-day strikes at two mines on Monday,
the National Union of Mineworkers and the companies that own
the mines said.
About 6,000 miners resumed work at the Grootvlei gold mine
east of Johannesburg after protesting the transfer of
colleagues to ot... | Financial Reports |
AUSTRALIAN EXPORTS HELPING TO BOOST GDP
| The strong contribution of exports to
the growth in Australia's gross domestic product (GDP) in the
fourth quarter of 1986 was a significant and welcome feature of
the data, private economists polled by Reuters said.
Real GDP rose 1.1 pct in the fourth quarter of 1986, after
rising 0.2 pct in the third ... | Financial Reports |
DIAGNOSTIC PRODUCTS <DPCZ> SEES EARNINGS GROWTH
| Diagnostic Products Corp president and
chief executive officer Sigi Ziering said he expects to
maintain the same compound average annal net income growth in
1987 as the company has for the past five years.
"We expect the same performance in net income over the next
five years as we have had in the past,... | Commodities and Trade |
AUSTRALIAN WHEAT BOARD RENEWS JAPAN SUPPLY PACT
| The Australian Wheat Board (AWB)
expects to sell about 900,000 tonnes of wheat to the Japanese
Food Agency this year after renewing its annual supply
agreement, AWB general manager Ron Paice said.
Under the agreement, the AWB makes the wheat available and
sells into the Food Agency's regular tenders, he... | Market and Economy |
SANWA BANK ACQUIRES SMALL STAKE IN PORTUGUESE BANK
| Sanwa Bank Ltd <ANWA.T> has agreed to buy
a two pct stake in Oporto-based <Banco Portugues de Investmento
Sarl> (BPI), Portugal's largest merchant bank, a Sanwa official
said.
Sanwa will purchase the shares from International Finance
Corp, a BPI shareholder and sister organisation of the World
B... | Market and Economy |
INDIA TRADE DEFICIT FALLS
| India's trade deficit is
provisionally estimated at 58.34 billion rupees in the first 10
months of fiscal 1986/87 ending March, compared with 70.62
billion in the year ago period, the Commerce Ministry said.
Exports rose in the latest period to 100.75 billion rupees
from the a year earlier 86.09 billion an... | Market and Economy |
SWEDEN REVISES DOWN JANUARY'S INFLATION FIGURE
| Sweden's rate of inflation during
January has been revised downwards after a fault was made in
calculating the figures, the Central Bureau of Statistics said.
The January rise in consumer prices was 1.0 pct instead of
the previously announced 1.3 pct, the bureau said, without
explaining how the error ar... | Financial Reports |
TAIWAN STEEL FIRM SEES LOWER EXPORTS, MORE OUTPUT
| State-owned <China Steel Corp> said its
steel exports will drop to some 600,000 tonnes in the year
ending June 30, 1987 from more than 810,000 in 1985/86.
Production by the company, Taiwan's largest steel maker, is
expected to rise to 3.33 mln tonnes from 3.27 mln, a spokesman
told Reuters.
He ... | Financial Reports |
SWISSAIR 1986 NET 64.5 MLN SWISS FRANC VS 68.5 MLN, DIV 33 FRANCS VS 38
|
SWISSAIR 1986 NET 64.5 MLN SWISS FRANC VS 68.5 MLN, DIV 33 FRANCS VS 38
| Market and Economy |
CURRENCIES COULD INFLUENCE BULLION AGAIN-MONTAGU
| Currency fluctuations may reassert their
influence on the bullion market in the near future, bullion
bankers Samuel Montagu and Co Ltd said in a market report.
But the firm said silver may lag behind gold in any
reactions to movements on foreign exchanges.
"OPEC's failure to address the recent decli... | Financial Reports |
PHILIPPINES' LIQUIDITY RISES, LOAN DEMAND FALLS
| Liquidity in the Philippines rose in
December while loan demand and short-term lending rates fell,
the Central Bank said.
A bank official said M-3 rose 9.72 pct to a provisional
149.80 billion pesos at the end of December from a month
earlier for a year-on-year gain of 12.72 pct.
She said short-te... | Financial Reports |
SWISSAIR <SWSZ.Z> YEAR 1986
| Net 64.5 mln Swiss francs vs 68.5 mln
Div 33 francs per share vs 38
Turnover 4.03 billion vs 4.35 billion.
| Corporate News |
FINNISH WHOLESALE PRICES RISE 0.2 PCT IN FEBRUARY
| Finnish wholesale prices rose 0.2 pct
in February after a rise of one pct in January and a drop of
1.2 pct in February 1986, the Central Statistical Office said.
Year-on-year wholesale prices fell 1.9 pct in February
after drops of 3.3 pct in January and 1.8 pct in February 1986.
The wholesale price... | Corporate News |
CHINA, TAIWAN TRADE VIA HONG KONG FELL IN 1986
| The value of trade between China and
Taiwan via Hong Kong fell 13 pct to 7.45 billion H.K. Dlrs in
1986 from 8.59 billion dlrs in 1985, Hong Kong's Census and
Statistics Department said.
Taiwan's exports to China through Hong Kong fell to 6.33
billion dlrs last year from 7.69 billion in 1985, while Chin... | Commodities and Trade |
DUNKIN' DONUTS INC <DUNK> 1ST QTR JAN 24 NET
| Shr 46 cts vs 42 cts
Net 3,418,000 vs 3,129,000
Revs 24.7 mln vs 26.2 mln
| 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 a rise in note circulation will take out
around 30 mln stg.
... | Financial Reports |
BRAZILIAN MONTHLY INFLATION DIPS SLIGHTLY
| Brazilian consumer prices rose
13.9 pct in February, compared with January's record rate of
16.8 pct, the Brazilian Geography and Statistics Institute
(IBGE) said in a statement.
The February rise brought the increase in consumer prices
since the introduction of the anti-inflation Cruzado Plan a
year ... | Commodities and Trade |
German net currency reserves fall 5.4 billion marks to 81.7 billion - Bundesbank
|
German net currency reserves fall 5.4 billion marks to 81.7 billion - Bundesbank
| Financial Reports |
NORTH KOREA TO RESURRECT GOLD MINE TO REPAY DEBT
| Pyongyang and a group of Tokyo-based
North Korean businessmen plan to resurrect a North Korean
goldmine and boost annual output to almost one tonne within two
years from 600 pounds at present, said Li Sangsu, a spokesman
for <Unzan Mine Development Co>, the venture partner.
Work will begin on April 3... | Financial Reports |
Legal and General Group 1986 pre-tax profit 83.2 mln stg vs 31.5 mln.
|
Legal and General Group 1986 pre-tax profit 83.2 mln stg vs 31.5 mln.
| Financial Reports |
CCR VIDEO CORP <CCCR> 1ST QTR NOV 30 NET
| Shr profit two cts vs loss 12 cts
Net profit 156,726 vs loss 776,000
Revs 1,157,883 vs 890,138
| Market and Economy |
CARGILL U.K. STRIKE TALKS TO RESUME TUESDAY
| Three consecutive days of talks between
management and unions aimed at ending the three month old
strike at Cargill U.K. Ltd's oilseed processing plant at
Seaforth, ended yesterday without resolving the situation,
although some progress was made, a company spokesman said.
Fresh talks have been scheduled... | Financial Reports |
EC FARM LOBBIES BACK OILS AND FATS "TAX" PLAN
| The European Community (EC) farmers'
and farm cooperatives lobbies, Copa and Cogeca, have backed the
EC Commission plan for an oils and fats price stabilisation
mechanism, claiming it would not harm consumers.
In a letter to Belgian Foreign Minister Leo Tindemans,
current president of the EC Council of ... | Corporate News |
OECD EUROPE ZINC STOCKS RISE IN JANUARY
| Producers zinc stocks in Organization
for Economic Co-operation and Development (OECD) European
countries rose to 159,732 tonnes in January from 151,171 in
December and 127,725 in January 1986, latest International Lead
and Zinc Study Group (ILZSG) figures show. Other figures were -
JA... | Commodities and Trade |
ECONOMIC SPOTLIGHT - SAUDI ARABIA RESHAPES ECONOMY
| Higher world oil prices, coupled with a
new realism ushered in by austerity, could lift Saudi Arabia's
economy after five years of falling revenue and growing budget
deficits, bankers and diplomats said.
The months ahead will prove critical as the government
attempts a balancing act between defending hi... | Financial Reports |
EC SUGAR TENDER SEEN AS CONCESSION TO PRODUCERS
| The rebate granted at yesterday's EC
sugar tender represents some concession to producers'
complaints that they are losing money on exports outside the
bloc, EC Commission officials said.
The maximum rebate of 44.819 European currency units (Ecus)
per 100 kilos was 1.3 Ecus below what producers say is n... | Commodities and Trade |
JOHN FAIRFAX LTD <FFXA.S> FIRST HALF
| 26 weeks ended Dec 28
Net shr 25.9 cents vs 28.2
Int div 5.5 cents vs 5.0
Pre-tax 48.30 mln dlrs vs 44.29 mln
Net 25.94 mln vs 25.35 mln
Turnover 453.28 mln vs 407.35 mln
Other income 4.48 mln vs 3.18 mln
Shrs 100 mln vs 90 mln.
NOTE - Div pay May 8. Reg April 14.
... | Corporate News |
FRANKLIN PUERTO RICO TAX-FREE SETS PAYOUT
| Mthly div 7.1 cts vs 7.1 cts prior
Pay March 31
Record March 16
NOTE: Franklin Puerto Rico Tax-Free Income Fund.
| Corporate News |
Britoil Plc 1986 pre-tax profit 134 mln stg vs 759 mln.
|
Britoil Plc 1986 pre-tax profit 134 mln stg vs 759 mln.
| Financial Reports |
FAIRFAX SAYS HIGHER TAX HITS FIRST HALF EARNINGS
| Media group John Fairfax Ltd <FFXA.S>
said that its flat first half net profit partly reflected the
impact of changes in the Australian tax system.
Fairfax earlier reported net earnings edged up 2.3 pct to
25.94 mln dlrs in the 26 weeks ended December 28 from 25.35 mln
a year earlier although pre-tax... | Corporate News |
BRITOIL PLC <BTOL.L> 1986 YR
| Shr 6.56p vs 50.31p
Final div 6p, making 8p vs 13p.
Pre-tax profit 134 mln stg vs 759 mln.
Net profit 33 mln vs 253 mln.
Turnover 978 mln stg vs 1.80 billion.
Extraordinary debit 50 mln vs nil.
Operating profit 149 mln stg vs 756 mln.
Exceptional debit on rationalisation prog... | Financial Reports |
19-MAR-1987
| 19-MAR-1987
| Financial Reports |
UK UNIT WAGE/LABOUR COSTS ROSE 3.3 PCT IN THREE MONTHS ENDING JAN - OFFICIAL
|
UK UNIT WAGE/LABOUR COSTS ROSE 3.3 PCT IN THREE MONTHS ENDING JAN - OFFICIAL
| Commodities and Trade |
UK AVERAGE EARNINGS ROSE 7.6 PCT IN JANUARY, UNDERLYING RISE 7.5 PCT - OFFICIAL
|
UK AVERAGE EARNINGS ROSE 7.6 PCT IN JANUARY, UNDERLYING RISE 7.5 PCT - OFFICIAL
| Other |
U.K. FEBRUARY ADJUSTED STERLING M3 RISES 2-1/4 PCT, M0 DOWN 3/4 TO ONE PCT - OFFICIAL
|
U.K. FEBRUARY ADJUSTED STERLING M3 RISES 2-1/4 PCT, M0 DOWN 3/4 TO ONE PCT - OFFICIAL
| Financial Reports |
LEGAL AND GENERAL GROUP PLC YEAR 1986
| Shr 14.58p vs 7.86p
Div 6.5p making 9.75p, an increase of 19.4 pct
Pretax profit 83.2 mln stg vs 31.5 mln
Net after tax 68.6 mln stg vs 37.7 mln
Pretax profit 83.2 mln stg vs 31.5
mln, consists of -
Long term business 45.9 mln stg vs 43.8 mln
U.S. Long term business 6.2 mln vs 8.... | Financial Reports |
FEB STERLING BANK LENDING UP 2.9 BILLION STG AFTER 1.75 RISE IN JAN - OFFICIAL
|
FEB STERLING BANK LENDING UP 2.9 BILLION STG AFTER 1.75 RISE IN JAN - OFFICIAL
| Financial Reports |
FRANKLIN OHIO INSURED TAX-FREE SETS PAYOUT
| Mthly div 6.1 cts vs 6.1 cts prior
Pay March 31
Record March 16
NOTE: Franklin Ohio Insured Tax-Free Income Fund.
| Financial Reports |
UK FEB ADJUSTED UNEMPLOYMENT FELL 44,100 TOTAL 3.07 MLN OR 11.1 PCT - OFFICIAL
|
UK FEB ADJUSTED UNEMPLOYMENT FELL 44,100 TOTAL 3.07 MLN OR 11.1 PCT - OFFICIAL
| Corporate News |
JAPAN TO ASK CHIP MAKERS TO SLASH OUTPUT FURTHER
| The Ministry of International Trade and
Industry will ask Japanese computer microchip makers to further
slash output in the second quarter in an effort to save its
semiconductor pact with the United States, MITI officials said.
The United States has accused Japan of reneging on the
semiconductor pact by... | Financial Reports |
U.K. CLEARING BANK LENDING RISES 1.6 BILLION STG
| Clearing bank sterling lending to the
U.K. Private sector in February is estimated to have risen by
an underlying, seasonally-adjusted 1.6 billion stg after a 1.2
billion stg rise in January, the Banking Information Service
said.
The unadjusted rise was 1.31 billion stg, compared with an
813 mln stg i... | Financial Reports |
U.K. UNEMPLOYMENT FALLS IN FEBRUARY
| Unemployment in the U.K. Fell a
provisional seasonally-adjusted 44,100 in February, to total
3.07 mln or 11.1 pct of the workforce, the Employment
Department said.
In January, seasonally adjusted unemployment fell by a
revised 1,100 to 11.3 pct, it said. Initially the January
position was reported as ... | Financial Reports |
STERLING M3 UP 2-1/4 PCT IN FEBRUARY, M0 DOWN
| The main measure of U.K. Broad money,
sterling M3, grew a provisional, seasonally adjusted 2-1/4 pct
in February after a rise of 1.1 pct in January, the Bank of
England said.
The narrow measure, M0, fell a provisional adjusted 3/4 to
one pct after a 0.6 pct drop in January, the Bank said.
Unadjust... | Financial Reports |
U.K. EARNINGS RISE 7.6 PCT IN YEAR TO JANUARY
| U.K. Average earnings rose a seasonally
adjusted 7.6 pct in the year to end-January after a 7.4 pct
rise in the year to December, the Department of Employment
said.
The underlying rise was 7.5 pct after 7.75 pct in December.
The January index, base 1980, was set at a provisional
seasonally adjuste... | Market and Economy |
FRANKLIN HIGH-YIELD TAX-FREE SETS PAYOUT
| Mthly div 7.1 cts vs 7.1 cts prior
Pay March 31
Record March 16
NOTE: Franklin High-Yield Insured Tax-Free Income Fund.
| Financial Reports |
U.K. MONEY MARKET SHORTAGE FORECAST REVISED DOWN
| The Bank of England said it revised down
its estimate of the deficit in the system today to 400 mln stg
from 450 mln.
| Financial Reports |
SOME 7,000 SOUTH AFRICAN MINERS RETURN TO WORK
| Some 7,000 black workers returned
to work after staging one-day strikes at two mines on Monday,
the National Union of Mineworkers and the companies that own
the mines said.
About 6,000 miners resumed work at the Grootvlei gold mine
east of Johannesburg after protesting the transfer of
colleagues to ot... | Market and Economy |
NIPPON LIFE SEEKING TIE WITH U.S. SECURITIES HOUSE
| <Nippon Life Insurance Co> is pursing a
possible link with an American securities house to expand its
overseas investment portfolio, a company spokesman said.
But he declined to comment on rumours the company would
take a 10 pct stake in <Shearson Lehman Brothers>, an
investment banking unit of Am... | Other |
U.K. MONEY MARKET GIVEN 181 MLN STG ASSISTANCE
| The Bank of England said it provided the
money market with 181 mln stg in assistance this morning.
This compares with the Bank's revised shortage forecast of
around 400 mln stg.
The central bank purchased bank bills outright at the new
dealing rates established yesterday.
These comprised 65 ml... | Other |
PHILIPPINES' LIQUIDITY RISES, LOAN DEMAND FALLS
| Liquidity in the Philippines rose in
December while loan demand and short-term lending rates fell,
the Central Bank said.
A bank official said M-3 rose 9.72 pct to a provisional
149.80 billion pesos at the end of December from a month
earlier for a year-on-year gain of 12.72 pct.
She said short-te... | Other |
CONVERGENT TECHNOLOGIES <CVGT> TO BUY OAKLEAF
| Convergent Technologies Inc
said it has reached an agreement in principle to buy Oakleaf
Corp, which supplies finance, insurance and leasing computers
to auto dealers.
The transaction will involve an exchange of Oakleaf stock
for cash and debt and is subject to a definitive agreement, the
companys sai... | Other |
SANWA BANK ACQUIRES SMALL STAKE IN PORTUGUESE BANK
| Sanwa Bank Ltd <ANWA.T> has agreed to buy
a two pct stake in Oporto-based <Banco Portugues de Investmento
Sarl> (BPI), Portugal's largest merchant bank, a Sanwa official
said.
Sanwa will purchase the shares from International Finance
Corp, a BPI shareholder and sister organisation of the World
B... | Corporate News |
BUNDESBANK LEAVES CREDIT POLICIES UNCHANGED
| The Bundesbank left credit policies
unchanged after today's regular meeting of its council, a
spokesman said in answer to enquiries.
The West German discount rate remains at 3.0 pct, and the
Lombard emergency financing rate at 5.0 pct.
| Market and Economy |
NO FRENCH REFLATION, SOURCES CLOSE TO BALLADUR SAY
| There is no question of stimulating
consumption or relying on a systematic budget deficit or other
reflationary policies to boost the French economy, sources
close to finance minister Edouard Balladur said.
Their comments followed remarks by prime minister Jacques
Chirac's spokesman Denis Baudouin, who ... | Market and Economy |
U.S. CREDIT MARKET OUTLOOK - SPENDING, M-1
| Brisk increases in personal income and
consumption are to appear in February data released today, but
the bond market's recent sluggishness suggests there will be no
major price reaction unless the rises are much larger than
expected, economists said.
Personal income is forecast to rise by 0.6 to 0.8 pc... | Market and Economy |
U.S. DELEGATION HOPES FOR VEG OILS TAX DEFEAT
| American soybean producers and processors
are hoping the proposed EC tax on vegetable oils and fats will
not be imposed, but say the U.S. Is prepared to retaliate if it
is introduced.
Wayne Bennett, the American Soybean Association's first
vice president, told a news conference the U.S. Administration
... | Financial Reports |
AMERICAN EXPRESS SAYS IT'S HOLDING TALKS ON SALE OF SHEARSON STAKE TO NIPPON LIFE
|
AMERICAN EXPRESS SAYS IT'S HOLDING TALKS ON SALE OF SHEARSON STAKE TO NIPPON LIFE
| Other |
NYMEX WILL EXPAND OFF-HOUR TRADING APRIL ONE
| The New York Mercantile Exchange set
April one for the debut of a new procedure in the energy
complex that will increase the use of energy futures worldwide.
On April one, NYMEX will allow oil traders that do not
hold a futures position to initiate, after the exchange closes,
a transaction that can sub... | Financial Reports |
AMERICAN EXPRESS <AXP> MAY SELL SHEARSON STAKE
| American Express Co said it and its
Shearson Lehman Brothers Inc subsidiary have been holding talks
on the possible equity investment in Shearson Lehman by <Nippon
Life Insurance Co> of Japan.
The company said, "The discussions have led to a general
understanding by which Nippon Life would purchase a... | Financial Reports |
S.AFRICA'S FINANCIAL RAND SEEN HEADED HIGHER
| The financial rand, widely viewed
as a direct reflection of foreign investor confidence in South
Africa, appears headed above 30 U.S. Cents, dealers and bank
economists said.
The currency has risen about 25 pct in the past three
months to its current rate of 29.50 cents, due partly to signs
of a possi... | Financial Reports |
<FI-TEK CORP> TO MAKE ACQUISITION
| Fi-Tek Corp said it has signed a letter
of intent to acquire <Voice Systems and Services Inc> for an
undisclosed amount of stock.
It said on completion of the acquisition it would change
its name to Voice Systems and Services Inc. It said VBoice
Systems has received a 3,600,000 dlr contract to provi... | Financial Reports |
FIRST WISCONSIN <FWB> TO MAKE ACQUISITION
| First Wisconsin Corp said it has
agreed to acquire North Shore Bancorp Inc of Northbrook, Ill.,
for 6,160,000 dlrs in cash, or slightly more than twice book
value, subject to approval by North Shore shareholders and
regulatory authorities.
The company said completion is expected in the third
quarter.
... | Other |
ITALY'S FEBRUARY PAYMENTS BALANCE IN SURPLUS
| Italy's overall balance of payments showed
a surplus of 1,461 billion lire in February 1987 compared with
a deficit of 1,145 billion in January, provisional Bank of
Italy figures show.
The February surplus compared with a deficit of 1,578
billion lire in the same month for 1986.
For the first two ... | Financial Reports |
BELVEDERE CORP <BLV> 4TH QTR LOSS
| Oper shr loss 21 cts vs loss 95 cts
Oper net loss 666,000 vs loss 2,184,000
Avg shrs 3,181,805 vs 2,310,200
Year
Oper shr loss 30 cts vs loss 23 cts
Oper net loss 823,000 vs loss 606,000
Avg shrs 2,757,040 vs 2,614,225
NOTE: Net excludes realized investment gains of 666,000
... | Other |
ITALIAN NET RESERVES RISE IN FEBRUARY
| Italy's net official reserves rose to
66,172 billion lire in February 1987 from a previously reported
62,174 billion in January, the Bank of Italy said.
Gold holdings at end-February totalled 35,203 billion lire,
unchanged on January.
Convertible currencies totalled 18,467 billion lire, up
from 14... | Other |
CARTER HAWLEY HALE STORES INC 4TH QTR SHR LOSS 1.58 DLRS VS PROFIT 58 CTS
|
CARTER HAWLEY HALE STORES INC 4TH QTR SHR LOSS 1.58 DLRS VS PROFIT 58 CTS
| Financial Reports |
WASTE MANAGEMENT SAYS IT IS PREPARED TO RAISE ITS BID FOR CHEMLAWN TO 33 DLRS A SHARE
|
WASTE MANAGEMENT SAYS IT IS PREPARED TO RAISE ITS BID FOR CHEMLAWN TO 33 DLRS A SHARE
| Financial Reports |
TRANSAMERICA <TA> TO HAVE GAIN ON UNIT SALE
| Transamerica Corp said it expects
to realize a gain of about 75 mln dlrs on the
previously-announced sale of the group life and health
operations of its Transamerican Occidental Life Insurance Co
subsidiary to Provident Life and Accident Co <PACC>.
But it said its Transamerica Life Cos unit plans to ... | Other |
ROSPATCH <RPCH> TO RESPOND TO DIAGNOSTIC <DRS>
| Rospatch Corp said it will
have a news release later in response to today's acquisition
bid by Diagnostic Retrieval Systems Inc for 22 dlrs a share.
Rospatch earlier requested its stock be halted in over the
counter trading, last trade 24-1/8.
Diagnostic said its bid was for a total 53 mln dlrs thro... | Other |
AMERITRUST <AMTR> SETS TWO FOR ONE STOCK SPLIT
| AmeriTrust Corp said its board
declared a two-for-one stock split, and management intends to
recommend to directors an increase in the quarterly dividend to
at least 50 cts per share presplit from the current 44 cts.
The company said shareholders at the May 14 annual meeting
will be asked to approve an ... | Other |
CARTER HAWLEY HALE STORES INC <CHH> 4TH QTR LOSS
| ended Jan 31
Shr loss 1.58 dlrs vs profit 58 cts
Net loss 24.2 mln vs profit 18.9 mln
Sales 1.34 billion vs 1.32 billion
Avg shrs 20.0 mln vs 19.8 mln
Year
Shr loss 1.27 dlrs vs profit 92 cts
Net profit 4.2 mln vs profit 48.0 mln
Sales 4.09 billion vs 3.98 billion
... | Commodities and Trade |
OECD FARM SUBSIDIES STUDY RESULTS DETAILED
| The results of a controversial study
of farm subsidies conducted by the Paris-based Organisation for
Economic Cooperation and Development, OECD, show Japan has the
highest agriculture subsidies in the world, and that dairy
farmers benefit more than any other commodity producers from
subsidies.
Results... | Other |
FIRST AMERICAN FINANCIAL<FAMR> IN SPECIAL PAYOUT
| First American Financial Corp
said its board declared a special dividend of 20 cts per share
and the regular 25 ct quarterly dividend, both payable April 15
to holders of record March 31.
| Industrial and Sector News |
CARIBOU ENERGY REVERSE SPLIT APPROVED
| <Caribou Energy Inc> said shareholders
have approved a one-for-100 reverse split that will take effect
by tomorrow and the company has changed its name to <Texas
Petroleum Corp>.
| Commodities and Trade |
NATIONAL CAPITAL <NCETS> TO MAKE SALE
| National Capital Real Estate
Trust said it has entered into a definitive agreement to sell
its Irvine Commercial Center in Irvine, Calif., to Shuwa Corp
of California for 10.85 mln dlrs.
It said the buyer has pl;aced 250,000 dlrs into an escrow
account as a nonrefundable deposit.
The trust said ex... | Commodities and Trade |
SWISSAIR REPORTS LOWER PROFIT AND DIVIDEND
| Swissair <SWSZ.Z> reported a 5.8 pct
drop in 1986 net profit to 64.5 mln Swiss francs and said that,
in line with its new, flexible dividend policy, it would cut
its payout to 33 francs per share from 38.
President Robert Staubli told a news conference that the
first two months of this year gave hope... | Corporate News |
CANADIAN ROXY IN NEW ALBERTA OIL DISCOVERY
| <Canadian Roxy Petroleum Ltd>
said a new oil discovery in the Peerless Lake area of
north-central Alberta is capable of flowing at over 1,000
barrels of oil a day from a lower zone and more than 1,500
barrels a day from a separate upper zone.
Canadian Roxy has a 35 pct interest in the five-year
roy... | Corporate News |
WASTE MANAGEMENT<WMX> TO RAISE CHEMLAWN<CHEM>BID
| Waste Management Inc said it
sent a letter to the ChemLawn Corp board, saying it is prepared
to increase its bid for ChemLawn to 33 dlrs a share,
from 27 dlrs, if ChemLawn promptly negotiates and executes a
simple two-step merger agreement containing only essential
covenants and conditions.
Upon such ... | Corporate News |
GREEN TREE ACCEPTANCE INC <GNT> SETS DIVIDEND
| Qtly dividend 12-1/2 cts vs 12-1/2 cts
Pay March 31
Record March 16
| Corporate News |
U.S. FIRST TIME JOBLESS CLAIMS FELL IN WEEK
| New applications for unemployment
insurance benefits fell to a seasonally adjusted 340,000 in the
week ended March 7 from 373,000 in the prior week, the Labor
Department said.
The number of people actually receiving benefits under
regular state programs totaled 2,507,000 in the week ended Feb
28, the ... | Other |
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