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CBI SURVEY POINTS TO SURGE IN U.K. OUTPUT
| British manufacturers expect output to
grow rapidly in the four coming months, a Confederation of
British Industry (CBI) survey shows.
The CBI's monthly trends survey for March shows that 43 pct
of the 1,685 polled U.K. Firms expect to raise output in the
next four months. Only nine pct expect output to... | Corporate News |
YEUTTER SEES GATT CONSENSUS ON FARM TRADE REFORM
| U.S. Trade Representative
Clayton Yeutter said trade ministers meeting here have reached
a general consensus on agricultural trade reform under the
latest Uruguay round of the General Agreement on Tariffs and
Trade (GATT).
Yeutter gave no precise details of the understanding but
told journalists the c... | Commodities and Trade |
NAKASONE INTERVENES IN MICROCHIP DISPUTE
| Prime Minister Yasuhiro Nakasone
intervened to try to resolve Japan's escalating dispute with
the U.S. Over semiconductor trade, government officials said.
At today's Cabinet meeting, Nakasone told Trade and
Industry Minister Hajime Tamura to redouble his efforts to calm
U.S. Anger over what it sees as ... | Other |
DOUBTS ABOUT ACCORD SEEN WEAKENING DOLLAR FURTHER
| The dollar is expected to decline further
in coming days as scepticism mounts about the effectiveness of
last month's Paris accord to stabilise currency exchange rates,
senior foreign exchange dealers said.
Following its fall today to a record 148.40 yen, dealers
said they expect the dollar to establish... | Financial Reports |
Prudential Corp 1986 pretax profit 178.1 mln stg vs 110.1 mln
|
Prudential Corp 1986 pretax profit 178.1 mln stg vs 110.1 mln
| Commodities and Trade |
NIPPON LIFE, SHEARSON TIE-UP SEEN SETTING TREND
| Nippon Life Insurance Co's 538 mln dlr
purchase of a 13 pct stake in Shearson Lehman Brothers Inc
brokerage unit is a shrewd move that other Japanese insurers
are likely to follow, securities analysts said.
The investment in one of Wall Street's top brokerage houses
is likely to pay off in dollars and i... | Financial Reports |
CANADA OUTLINES GATT AGRICULTURAL REFORM PLAN
| Canadian Trade Minister Pat
Carney said that agricultural policies should not hurt world
international trade and should therefore become more price
responsive over time.
She told delegates at the informal meeting of trade
ministers that this was one of five principles Canada wanted
adopted in reformin... | Financial Reports |
PRUDENTIAL CORP PLC <PRUL.L> 1986 YEAR
| Shr 34.5p vs 24.5p adjusted
Div 19p making 29p vs 24.8p adjusted
Pretax profit 178.1 mln vs 110.1 mln
Tax and minorities 60.5 mln vs 32.7 mln
Profit attributable 117.6 mln vs 77.4 mln
Pretax profit includes -
Long term business 145.5 mln vs 137.7 mln
General insurance busines... | Financial Reports |
JAPAN UNEMPLOYMNENT RISES TO RECORD IN JANUARY
| Japan's seasonally adjusted unemployment
rate rose to a record 3.0 pct in January, the worst since the
Government started compiling unemployment statistics under its
current system in 1953, up from the previous record 2.9 pct in
December, the government's Management and Coordination Agency
said.
Unemp... | Corporate News |
MAJOR NATIONS MUST ACT ON CURRENCIES - MIYAZAWA
| Finance Minister Kiichi Miyazawa said the
time has come for major industrialised nations to take action
on exchange rates in line with their agreement last month in
Paris.
In Paris, Britain, Canada, France, Japan, the U.S. And West
Germany agreed to coooperate to hold currency rates around
their then ... | Financial Reports |
JAPAN ECONOMY MAY START BOTTOMING OUT SOON -AGENCY
| Japan's economy remains sluggish but is
beginning to show signs it may bottom out soon, the Economic
Planning Agency said in a monthly report submitted to Cabinet
ministers.
But a bottoming out of the economy depends largely on the
yen's exchange rate trend in the immediate future, Agency
officials sa... | Financial Reports |
KUWAIT SAYS OPEC 2.4 MLN BPD BELOW CEILING
| Kuwaiti oil minister Sheikh Ali
al-Khalifa al-Sabah said OPEC was producing well below its oil
output ceiling and this would help prices move higher,
according to a Kuwaiti newspaper interview.
The al-Rai al-Aam newspaper quoted him as saying OPEC was
pumping 2.4 mln barrels per day (bpd) less than its ... | Other |
Bundesbank allocates 6.5 billion marks in 28-day repurchase pact at 3.80 pct
|
Bundesbank allocates 6.5 billion marks in 28-day repurchase pact at 3.80 pct
| Financial Reports |
MIYAZAWA SAYS U.S. LIKELY TO INTERVENE
| Finance Minister Kiichi Miyazawa told
Parliament's Lower House Finance Committee that the U.S. Is
expected to intervene in the foreign exchange market to
stabilise exchange rates, political sources said.
Asked if the U.S. Federal Reserve Board agreed in Paris
last month to intervene to stabilise exchang... | Corporate News |
U.S. OFFERS TO ESCORT KUWAITI TANKERS IN GULF
| The U.S. Has offered warships to
escort Kuwaiti tankers in the Gulf past Iranian anti-ship
missile batteries, Defence Department officials said.
The officials told Reuters yesterday the offer was made
last week by Navy Admiral William Crowe, chairman of the
Pentagon Joint Chiefs of Staff, during a Middl... | Financial Reports |
YEUTTER SAYS U.S.-JAPAN TRADE DIFFICULTIES REMAIN
| U.S. Trade Representative
Clayton Yeutter said he was unsure whether some of the trade
issues straining U.S.-Japanese relations would be resolved
before the two countries open trade talks in late April.
"We are having high level discussions on them (the issues)
within the United States...The relationshi... | Corporate News |
BUNDESBANK ALLOCATES 6.5 BILLION MARKS IN TENDER
| The Bundesbank accepted bids for 6.5
billion marks at today's tender for a 28-day securities
repurchase pact at a rate of 3.80 pct, a central bank spokesman
said.
Banks, which bid for a total 8.6 billion marks liquidity,
will be credited with the funds allocated tomorrow and must buy
back securities p... | Financial Reports |
U.K. MONEY MARKET GIVEN 115 MLN STG ASSISTANCE
| The Bank of England said it had provided
the money market with 115 mln stg assistance in the morning
session. This compares with the Bank's forecast of a 300 mln
stg shortage in the system today.
The central bank bought bills outright in band two at
9-13/16 pct comprising 73 mln stg bank bills and 42 ml... | Financial Reports |
FORD <F> EUROPE EARNINGS UP 71 PCT LAST YEAR
| Ford Europe's net earnings soared by 71
per cent last year to 559 mln dlrs, Kenneth Whipple, chairman
of Ford Europe, said.
Whipple, here to attend the Geneva Auto Show which opens on
Thursday, said that the Ford Motor Co unit had sold a record
1.5 million vehicles in Europe in 1986.
Net earnings ... | Financial Reports |
FRENCH EMPLOYERS CHIEF SEES HOPE FOR GROWTH
| The 1992 deadline for abolishing economic
barriers within the European Community should help French
economic growth and create jobs, president of the French
employers' federation CNPF Francois Perigot said.
"Having a market at our disposal which is as homogeneous and
accessible as that of Europe is an i... | Financial Reports |
SOVIET SUGAR IMPORTS HIGHER IN OCT/NOV
| Soviet sugar imports in October and
November were significantly higher than in the same period of
the year before, according to figures received by the
International Sugar Organization.
Imports in October totalled 23,803 tonnes, compared with
4,685 tonnes in the same month of 1985, while November import... | Financial Reports |
WEST GERMAN 1986 SUGAR OUTPUT RISES
| West German sugar production last year
rose 38,000 tonnes to an estimated 3.17 mln tonnes, the
Agricultural Ministry said.
It said the increase was exclusively due to higher beet
sugar content, which went up to 17.93 pct from 17.3 pct in
1985.
Last year's beet deliveries totalled 20.22 mln tonnes,... | Financial Reports |
NORCROS REJECTS 542.2 MLN STG BID FROM WILLIAMS
| Norcros Plc <NCRO.L> the building
products and packaging group said its board had no hesitation
in unanimously rejecting this morning's 542.2 mln stg bid from
<Williams Holdings Plc>, the industrial holding firm.
The company said Williams' 432.7p per share offer was
unsolicited and unwelcome and s... | Financial Reports |
NO PROOF OF MORE CHERNOBYL GRAIN DAMAGE-DIPLOMATS
| Western agricultural attaches in Moscow
said they had no evidence to substantiate rumours that last
April's Chernobyl nuclear disaster had a worse effect on Soviet
grain than first reported.
Current Soviet interest in chartering ships to carry grain
from the U.S. Helped prompt the rumours on world marke... | Other |
IRAN SAID TO TEST FIRE SILKWORM MISSILE IN HORMUZ
| Iran has test-fired its newly acquired
Silkworm anti-shipping missile in the Strait of Hormuz and has
set up at least two land-based launching sites in the area, a
British naval source in the Gulf said.
The source, who declined to be identified, said Iran had
fired the Chinese-made missile at a hulk off... | Financial Reports |
MERRILL LYNCH <MER> IN TALKS ON CANADA PURCHASES
| Merrill Lynch and Co Inc is holding
talks on acquiring Canadian brokerage firms, a company
spokesman told Reuters.
He said one of the firms with which Merrill Lynch is
negotiating is <Burns Fry Corp> of Toronto, which has already
received an offer from Security Pacific Corp's <SPC> 83 pct
owned ... | Corporate News |
MARK IV <IV> STARTS BID FOR CONRAC <CAX>
| Mark IV Industries Inc said it has
started the 25 dlr per share tender offer for all shares of
Conrac Corp that it announced yesterday afternoon.
In a newspaper advertisement, the company said the offer
and withdrawal rights expire April 20 unless extended. The
offer is not conditioned on receipt of an... | Financial Reports |
ECOLAB <ECL> STARTS BID FOR CHEMLAWN <CHEM>
| Ecolab Inc said it has started its
previously-announced tender offer for all shares of ChemLawn
Corp at 36.50 dlrs each.
In a newspaper advertisement, the company said the offer
and withdrawal rights expire April 20 unless extended. The
ChemLawn board has approved the tender and a merger at the same
... | Other |
TAIWAN PROPOSES FURTHER TARIFF CUTS
| Taiwan said it plans another round of
tariff cuts, possibly within a month, to try to narrow its
trade surplus with the U.S.
Vice Finance Minister Ronald Ho said a high-level economic
committee recommended tariff cuts on 66 products requested by
Washington, including apples, chocolates and fruit juice.
... | Corporate News |
PAKISTAN CONSUMER PRICE INDEX FALLS IN JANUARY
| Pakistan's consumer price index (base
1975/76) fell to 231.93 in January 1987 from 233.26 in December
1986, and compared with 223.66 a year ago, the federal Bureau
of Statistics said.
The wholesale price index (same base) rose to 229.83 in
January from 229.06 in December and compared with 217.97 in
... | Corporate News |
IRAN SAID TO TEST FIRE SILKWORM MISSILE IN HORMUZ
| Iran has test-fired its newly acquired
Silkworm anti-shipping missile in the Strait of Hormuz and has
set up at least two land-based launching sites in the area, a
British naval source in the Gulf said.
The source, who declined to be identified, said Iran had
fired the Chinese-made missile at a hulk off... | Other |
TAIWAN PROPOSES FURTHER TARIFF CUTS
| Taiwan said it plans another round of
tariff cuts, possibly within a month, to try to narrow its
trade surplus with the U.S.
Vice Finance Minister Ronald Ho said a high-level economic
committee recommended tariff cuts on 66 products requested by
Washington, including apples, chocolates and fruit juice.
... | Financial Reports |
BDM INTERNATIONAL <BDM> INCREASES QTRLY DIVS
| Annual div Class A 14 cts vs 12 cts prior
Annual div Class B 12.1 cts vs 10.4 cts prior
Payable April one
Record March 20
NOTE: full name is BDM International Inc.
| Financial Reports |
SOUTH KOREA'S LEADING INDICATORS FALL IN DECEMBER
| South Korea's index of leading indicators
fell 0.1 pct to 164.1 (base 1980) in December after a 0.1 pct
rise in November, representing a 16.1 pct year-on-year gain
from December 1985, Economic Planning Board provisional figures
show.
The index is based on 10 indicators which include export
values, let... | Financial Reports |
U.S. FEB DURABLE GOODS ORDERS ROSE 6.0 PCT, NONDEFENSE DURABLES ROSE 3.8 PCT
|
U.S. FEB DURABLE GOODS ORDERS ROSE 6.0 PCT, NONDEFENSE DURABLES ROSE 3.8 PCT
| Financial Reports |
STANDARD CHARTERED PLC <STCH.L> 1986 YEAR
| Shr 97.0p vs 85.3p
Div 22.5p vs 20.0p making 35.0p vs 30.5p
Pretax profit 253.9 mln stg vs 267.9 mln
Tax 96.3 mln vs 125.6 mln
Operating income 1.15 billion vs 998.8 mln
Operating expenses 759.3 mln vs 692.7 mln
Trading profit before charge for bad and doubtful debts
394.4 ml... | Financial Reports |
KDI <KDI> TO BUY TRIANGLE MICROWAVE <TRMW>
| KDI Corp said it has agreed
in principle to acquire Triangle Microwave Inc for 6.50 dlrs
plus a contingent payment for each Triangle share.
It said holders of the contingent payment units will be
entitled to receive annual payments to the extent that the
predepreciation gross profits of Triangle Microwa... | Corporate News |
STORM BRINGS HEAVY SNOWS TO U.S. PLAINS
| The National Weather Service said a
powerful winter storm centered over north central Oklahoma was
spreading snow from western and central Kansas across much of
Nebraska to southern and eastern South Dakota.
Rain was reported across parts of Minnesota, Iowa, eastern
Kansas, Missouri and eastern Oklahoma... | Financial Reports |
U.S. FEB DURABLE GOODS ROSE 6.0 PCT
| New orders for durable goods
received by U.S. manufacturers rose 5.7 billion dlrs, or 6.0
pct, in February to 101.2 billion dlrs, the Commerce Department
said.
Excluding defense, orders rose 3.8 pct, compared with a
revised January decline of 7.7 pct.
In January, durable goods fell a revised 9.9 p... | Other |
WOOLWORTH U.K. SAYS GROWTH PROSPECTS EXCITING
| Woolworth Holdings Plc <WLUK.L> which
earlier announced a 1986 pre-tax profits rise of 42 pct over
1985, said its prospects for growth were very exciting.
The profit figure of 115.3 mln stg exceeded a forecast by
some 10 pct made during the hostile bid by Dixons Group Plc
<DXNS.L> last year and th... | Financial Reports |
NATIONAL SEMICONDUCTOR CORP <NSM> 3RD QTR LOSS
| March Eight
Shr loss 31 cts vs loss 47 cts
Net loss 25.6 mln vs loss 39.4 mln
Sales 398.1 mln vs 322.3 mln
Avg shrs 91.6 mln vs 90.0 mln
Nine mths
Shr loss 44 cts vs loss one dlr
Net loss 32.7 mln vs loss 84.4 mln
Sales 1.36 billion vs 1.08 billion
Avg shrs 91.2 m... | Financial Reports |
COMDATA NETWORK AGREES TO HIGHER OFFER FROM WELSH CARSON ANDERSON
|
COMDATA NETWORK AGREES TO HIGHER OFFER FROM WELSH CARSON ANDERSON
| Financial Reports |
SUMITA SAYS BANK WILL INTERVENE IF NECESSARY
| Bank of Japan Governor Satoshi Sumita
said in a statement the central bank will intervene in foreign
exchange markets to stabilise exchange rates if necessary in
close cooperation with other major industrial nations.
Sumita said the Bank will take adequate measures including
market intervention, if nece... | Other |
COMDATA <CDN> ACCEPTS NEW WELSH CARSON BID
| Comdata Network Inc said it
has entered into a definitive agreement to merge into a company
formed by <Welsh, Carson, Anderson and Stowe IV> for either
16.50 dlrs in cash or 10.00 dlrs in cash and a unit of
securities per Comdata share.
The company said each unit of securities would consist of
1.25... | Commodities and Trade |
IRELAND PUT ON COLORADO BEETLE ALERT
| The Irish Agriculture Department issued
a Colorado beetle alert today after three of the beetles were
found in a box of parsley imported from France.
Officials said a colony of the black and amber coloured
beetles can destroy a potato field in a day. The females lay up
to 2,500 eggs each.
Some of ... | Corporate News |
DOLLAR DROP SEEN AS TEST OF PARIS AGREEMENT
| The sharp drop in the value of the
dollar against the yen and the mark is the first serious test
of last month's Group of Five (G-5) plus Canada agreement to
stabilise currencies, dealers and bank economists said.
"The dollar will be pushed down until there is coordinated
central bank intervention," one... | Financial Reports |
TRANSNATIONAL INDUSTRIES <TRSL> SEES LOSS
| Transnational Industries Inc said due
to continuing manufacturing difficulties at its AlloyTek Inc
jet engine component subsidiary, it expects to report a net
loss of about 300,000 dlrs or 12 cts per share for the fourth
quarter ended January 31.
It said revenues for the period were about 11.9 mln dlrs,... | Financial Reports |
GREAT WESTERN <GWF> SELLS INSURANCE UNIT
| Great Western Financial
Corp said it agreed to sell its John Alden Life Insurance Co
and its affiliated operations for 280 mln dlrs to a
newly-formed company onwed by the John Alden Management Group.
General Electric Credit Corp delivered a commitment letter
arranged by the GECC Capital Markets Group In... | Corporate News |
JAPANESE ECONOMIST SEES STABLE YEN/DOLLAR RATES
| The yen should stabilize at around
152 to 153 to the U.S. Dollar for about a year, the Bank of
Tokyo's economic adviser Koei Narusawa said.
"Both sides are showing clear interest to secure stability
of the currencies. The major target of the Japanese government
is to maintain the yen at above 150, at le... | Financial Reports |
STERIVET <STVTF> SETS THREE-FOR-ONE SHARE SPLIT
| Sterivet Laboratories Ltd said the
board authorized a three-for-one split of its outstanding
common shares, subject shareholder approval at the annual
meeting.
| Corporate News |
SPAIN RAISES CALL MONEY RATES ON HIGHER DEMAND
| The Bank of Spain raised overnight call
money rates by 1/4 to 14 pct on demand for 746 billion pesetas
in today's auction, which a bank spokesman termed "heavy."
Rates stood at 12.1 pct at the start of the year and have
been increased to drain liquidity on rising demands for funds,
the spokesman said.
... | Corporate News |
CAMPBELL RED LAKE <CRK> SETS QUARTERLY DIVIDEND
| Qtly div 10 cts vs 10 cts prior
Pay May 25
Record April 20
Note: Canadian funds
| Financial Reports |
GATT ROUND MAY STOP GROWING TRADE PROBLEMS: U.S.
| A successful new GATT
(General Agreement on Tariffs and Trade) round is needed to
halt growing bilateral trade problems between major trading
partners, U.S. Trade Representative Clayton Yeutter said.
Yeutter, in New Zealand for informal GATT ministerial
talks, told Reuters bilateral trade disputes are i... | Financial Reports |
BELGIAN MARCH CONSUMER PRICES RISE
| Belgian consumer prices rose 0.11 pct
in March from February to stand 1.27 pct above the level in
March 1986, the Economic Affairs Ministry said in a statement.
It said the consumer price index, base 1981, rose to 132.83
points from 132.69 in February and 131.17 in March 1985.
Year-on-year inflation... | Financial Reports |
U.K. MONEY MARKET GIVEN FURTHER 104 MLN STG HELP
| The Bank of England said it provided the
money market with assistance of 104 mln stg in the afternoon
session.
This takes the bank's total help so far today to 219 mln
stg and compares with its estimate of a 300 mln stg shortage.
The central bank bought outright 104 mln stg in bank bills
in band t... | Corporate News |
OPEC WITHIN OUTPUT CEILING, SUBROTO SAYS
| Opec remains within its agreed output
ceiling of 15.8 mln barrels a day, and had expected current
fluctuations in the spot market of one or two dlrs, Indonesian
Energy Minister Subroto said.
He told reporters after meeting with President Suharto that
present weakness in the spot oil market was the resul... | Financial Reports |
PRINCEVILLE <PVDC> GETS LETTER OF CREDIT
| <Qintex Ltd> of Brisbane said <Westpac
Banking Corp> of Australia has issued a commitment letter to
provide Princeville Development Corp with the letter of credit
required under Qintex's proposed acquisition of Princeville.
The letter of credit would ensure payment of Princeville's
contingent subo... | Financial Reports |
ADVANCED COMPUTER TECHNIQUES <ACTP> YEAR NET
| Shr 41 cts vs 30 cts
Net 700,000 vs 526,000
Revs 15.2 mln vs 14.7 mln
| Financial Reports |
NEWS CORP <NWS> UNIT CORRECTS DIVIDEND RATE
| News Corp Ltd's Fox Television
Stations Inc subsidiary said it will pay an accrued dividend of
5.44 dlrs per share, not the 5.83 dlrs it reported earlier, in
connection with the April 15 redemption of 230,000 shares of
increasing rate exchangeable guaranteed preferred stock for
1,000 dlrs per share plus acc... | Financial Reports |
MCRAE INDUSTRIES <MRI-A> INCREASES PAYOUT
| McCrae Industries Inc said it
raised its preferred dividend on its Class A common stock to 12
cts per share from 11 cts per share.
It said the dividend was payable April 20, 1987, to
shareholders of record April 6.
| Commodities and Trade |
COLUMBIA FIRST <CFFS> TAKES OVER BANK
| Columbia First Federal Savings and
Loan Association said it has acquired the insured deposits of
first Federal of Maryland, based in Hagerstown, from the
Federal Savings and Loan Insurance Corp and reopend First
Federal's six former offices as Columbia First branches.
The Federal Home Loan Bank Board ha... | Financial Reports |
N.Y. DEALERS BELIEVE FED INTERVENED TO BUY DLRS
| The Federal Reserve appears to have
intervened in the U.S. foreign exchange market to buy dollars
against yen this morning, currency dealers said.
They said the intervention occurred near the dollar's early
low of 148.50 yen and the U.S. currency subsequently firmed to
149.05/15. It closed at 150.00/05 ... | Corporate News |
CHARMING SHOPPES INC <CHRS> RAISES QUARTERLY
| Qtly div three cts vs 2-1/2 cts prior
Pay April 15
Record April Six
| Financial Reports |
ANGELICA CORP <AGL> 4TH QTR JAN 31 NET
| Shr 47 cts vs 40 cts
Net 4,399,000 vs 3,768,000
Sales 76.6 mln vs 68.0 mln
Year
Shr 1.79 dlrs vs 1.84 dlrs
Net 16,701,000 vs 17,159,000
Sales 291.7 mln vs 269.1 mln
NOTE: FiscaL 1987 year based on 53 weeks compared wqith 52
weeks a year earlier.
| Financial Reports |
OFFICIAL INQUIRY SET FOR AUSTRALIAN WHEAT INDUSTRY
| The government's industry aid and
protection review body, the Industries Assistance Commission
(IAC), will hold a 12-month inquiry into the Australian wheat
industry, Primary Industry Minister John Kerin said.
The IAC has been asked to report on the need for assistance
to the industry and the nature, du... | Corporate News |
GULL INC <GLL> 3RD QTR FEB 28 NT
| Shr 22 cts vs 14 cts
Net 917,000 vs 553,000
Sales 16.1 mln vs 13.6 mln
Avg shrs 4,195,000 vs 4,090,000
Nine mths
Shr 70 cts vs 29 cts
Net 2,852,000 vs 1,086,000
Sales 49.2 mln vs 40.7 mln
NOTE: Prior nine mths net includes gain 250,000 dlrs from
insurance payment.
... | Financial Reports |
AMERIANA SAVINGS BANK <ASBI> 4TH QTR NET
| Shr not given
Net 328,000 vs 99,000
Year
Shr not given
Net 1,694,000 vs 998,000
NOTE: Company went public in February 1987.
Net includes pretax loan loss recovery 41,000 dlrs vs
provision 50,000 dlrs in quarter and provisions 135,000 dlrs vs
50,000 dlrs in year.
| Financial Reports |
GRIFFIN TECHNOLOGY INC <GRIF> 4TH QTR NET
| Ended Jan 31
Shr loss one ct vs loss eight cts
Net loss 25,800 vs loss 157,100
Revs 2,323,500 vs 1,930,400
Year
Shr profit 19 cts vs profit four cts
Net profit 401,100 vs profit 93,100
Revs 10.3 mln vs 8,807,000
| Corporate News |
HONDURAS SEEKS PL480 VESSELS FOR TALLOW DELIVERY
| Honduras will tender March 26 under
PL480 for U.S. and non-U.S. flag vessels to import 1,500 tonnes
of tallow in bulk, an agent for the country said.
The agent said delivery includes laydays of April 5-15.
Offers are due by 1200 hrs EST, March 26, and will remain
valid until the close of business th... | Corporate News |
PETRIE STORES CORP <PST> 4TH QTR JAN 31 NET
| Shr 90 cts vs 97 cts
Shr diluted 82 cts vs 88 cts
Net 42.1 mln vs 43.0
Revs 379.3 mln vs 352.7 mln
Avg shrs 46.8 mln vs 44.3 mln
Avg shrs diluted 52.6 mln vs 50.0 mln
Year
Shr 1.58 dlrs vs 1.81 dlrs
Shr diluted 1.50 dlrs vs 1.76 dlrs
Net 73.7 mln vs 77.9 mln
... | Commodities and Trade |
U.S. ECONOMY SHOWS PROMISING SIGNS OF GROWTH
| The U.S. economy is showing some
promising signs of accelerated expansion despite the
sluggishness of the fourth quarter last year, private
economists say.
Some of the slowness experienced in the October-December
period had been expected to spill over into the first quarter
this year, as the tax law c... | Other |
INDONESIA URGED TO DEREGULATE ITS ECONOMY
| World Bank President Barber Conable
linked increased borrowing by Indonesia, the Third World's
sixth largest debtor, to fresh measures to deregulate trade and
dismantle protectionist barriers.
"We would like to see the Indonesian government continue the
adjustment process ... To move towards increased d... | Corporate News |
ARGYLL SELLS SUBSIDIARY'S ASSETS FOR 14 MLN STG
| Food and drink retailer Argyll Group Plc
<AYLL.L> said it has agreed to sell its U.K. Subsidiary <George
Morton Ltd> to <Seagram United Kingdom Ltd> for about 14 mln
stg in cash.
The consideration for Morton's fixed assets, stocks,
debtors and goodwill is payable on completion of the sale. The
... | Corporate News |
IRAN WARNS U.S. NOT TO INTERVENE IN THE GULF
| The speaker of the Iranian Parliament,
Hojatoleslam Akbar Hashemi Rafsanjani, warned the U.S. Not to
intervene in the Gulf, a day after Washington said its warships
were available to escort Kuwaiti tankers through the waterway.
"If U.S. Intervention occurs, the entire world will become
insecure for the ... | Corporate News |
COFFEE TRADERS EXPECT SELLOFF AFTER ICO TALKS FAIL
| The failure of the International Coffee
Organization (ICO) to reach agreement on coffee export quotas
could trigger a massive selloff in London coffee futures of at
least 100 stg per tonne today, coffee trade sources said.
Prices could easily drop to as low as 1.00 dlr or even 80
cents a lb this year fr... | Corporate News |
VALLEN CORP <VALN> 3RD QTR FEB 28 NET
| Shr 24 cts vs 33 cts
Net 347,000 vs 469,000
Sales 16.5 mln vs 14.0 mln
Nine mths
Oper shr 93 cts vs 94 cts
Oper net 1,327,000 vs 1,342,000
Sales 48.8 mln vs 34.5 mln
NOTE: Current nine mths net excludes 756,000 dlr gain from
termination of pension plan.
| Corporate News |
SHELL TO DECLARE NORWAY'S DRAUGEN FIELD COMMERCIAL
| <A/S Norske Shell>, Royal
Dutch/Shell Group's <RD.AS> Norwegian subsidiary, said it has
nearly concluded a 10 billion crown development scheme for
Norway's Draugen oil field and will declare the field
commercial in the near future.
Pending government approval of the scheme, the field could
come ... | Financial Reports |
BOND CORP HAS NO COMMENT ON ALLIED SPECULATION
| Bond Corp Holdings Ltd <BONA.S> of
Australia said it had no comment on an article in a London
evening newspaper speculating on its plans for a bid approach
to U.K. dDrinks and food giant Allied Lyons Plc <ALLD.L>.
Tony Oates, Bond Corp's Executive Director for Finance and
Administration, said "Th... | Financial Reports |
S. AFRICA GOLD MINING INDUSTRY HAD RECORD YEAR
| The gold mining industry had
another "exceptional year" in 1986 with tonnage milled, revenues
and profits reaching high levels, the Chamber of Mines said.
Nearly 108 mln tons of ore was milled, three pct higher
than the prior year, while revenues rose 17 pct to 16.5 billion
rand and profits increased 6.... | Financial Reports |
CLAREMONT TELLS SEC IT SEEKS 15 PCT CHAMPION PRODUCTS STAKE, TWO BOARD SEATS
|
CLAREMONT TELLS SEC IT SEEKS 15 PCT CHAMPION PRODUCTS STAKE, TWO BOARD SEATS
| Commodities and Trade |
RICE, CORN LEAD 1987 U.S. FARM PAYMENTS - USDA
| Rice and corn farmers will receive
the largest payments from the U.S. government during 1987 if
the subsidies are calculated per planted acre, the U.S.
Agriculture Department said.
USDA said government outlays to rice farmers in 1987 are
expected to reach 403 dlrs per acre planted, followed by corn
at... | Financial Reports |
U.K. MONEY MARKET GIVEN 10 MLN STG LATE ASSISTANCE
| The Bank of England said it provided the
money market with late help of about 10 mln stg.
This takes the bank's total help today to some 229 mln stg
and compares with its forecast of a 300 mln stg shortage.
| Financial Reports |
VOLVO GROUP COMPANY PROPOSES TWO-FOR-FIVE ISSUE
| <AB Catena>, in which AB Volvo
<VOLV.ST> has a 48 pct stake, said it was proposing a
two-for-five stock issue that will raise the company's equity
capital to 420 mln crowns from 300 mln.
Catena reported profits after financial income and costs up
to only 231 mln crowns from 207 mln in 1985, despit... | Financial Reports |
U.S. ENERGY SECRETARY OPTIMISTIC ON INCENTIVES
| U.S. Department of Energy Secretary
John Herrington said he was "optimistic" about the chances of
providing a more generous depletion allowance for oil and gas
producers, but added that the plan faces strong opposition from
some members of the Reagan administration.
Herrington, speaking to Houston oil e... | Corporate News |
COMMERCIAL METALS CO <CMC> 2ND QTR FEB 28 NET
| Shr 23 cts vs 34 cts
Net 2,091,000 vs 3,053,000
Revs 203.5 mln vs 215.7 mln
Avg shrs 8,967,719 vs 8,863,945
1st half
Shr 40 cts vs 69 cts
Net 3,616,000 vs 6,111,000
Revs 411.8 mln vs 418.1 mln
Avg shrs 8,958,100 vs 8,850,656
| Financial Reports |
GEO. A. HORMEL <HRL> VOTES TWO-FOR-ONE SPLIT
| Geo. A. Hormel and Co said its
directors voted a two-for-one split, payable June one, record
April 18.
| Commodities and Trade |
CLAREMONT TO BOOST CHAMPION PRODUCTS <CH> STAKE
| Claremont Group Ltd, a New York
investment banking firm, said it intends to boost its current
10 pct stake in Champion Products Inc to as much as 15 pct of
the total outstanding common stock.
Claremont added that it asked Champion to put two
representatives on its nine-member board of directors.
C... | Commodities and Trade |
<SHELL U.K. LTD> YEAR 1986
| Sales proceeds 6.57 billion stg vs 8.81 billion
Duty and value added tax 1.84 billion vs 1.60 billion
Net proceeds 4.73 billion vs 7.21 billion
Net profit 757 mln vs 667 mln
Average capital employed 3.63 billion vs 3.71 billion
Capital and exploration expenditure 644 mln vs 618 mln
... | Industrial and Sector News |
CYCLOPS <CYL> SAYS DIXONS AGREEMENTS BINDING
| Cyclops Corp said that as it has
already stated, its agreements with <Dixons Group PLC> are
binding and Dixons will not rescind or waive any provisions of
the agreements.
The company said its agreement to merge into Dixons does
not permit it to provide nonpublic information to <CYACQ>,
which is ... | Financial Reports |
<J.M. RESOURCES INC> IN MERGER AGREEMENT
| J.M. Resources Inc said it has acquired
a 90 pct interest in DEI Acquisition Corp from InterFirst
Venture Corp, Sam B. Myers, Neomar Resources Inc and Richard L.
Morgan, all of Dallas, for warrants to acquire 10.1 mln shares
of J.M. stock and three mln dlrs of notes.
The warrants are exercisable at par ... | Industrial and Sector News |
ASTROTECH <AIX> DIRECTOR BUYS COMPANY STOCK
| Astrotech International Corp said
its director S. Kent Rockwell, who controls Rockwell Venture
Capital Inc, will buy 27 pct of the company's cumulative
preferred stock.
It said will buy up to 302,300 shares of Astrotech's 1.80
dlrs cumulative preferred stock.
It said the shares are owned by W.F. R... | Financial Reports |
AMERICAN CYANAMID <ACY> CHANGES RECORD DATE
| American Cyanamid Co said subject
to approval by its board it has changed the record date for the
quarterly dividend it will pay on June 26 to May 8 from May 29
to coincide with the record date for a two-for-one stock split
that was declared at the same time.
The dividend on a post-split basis is 26-1/4... | Financial Reports |
PNEUMATIC SCALE CO <PNU> SETS QUARTERLY
| Qtly div 25 cts vs 25 cts prior
Pay May 4
Record April 20
| Corporate News |
CURTICE-BURNS FOODS INC <CBI> RAISES PAYOUT
| Qtly div 26 cts vs 24 cts prior
Pay April 30
Record April 15
| Corporate News |
CRA Ltd 1986 net profit 138.2 mln dlrs vs 87.8 mln
|
CRA Ltd 1986 net profit 138.2 mln dlrs vs 87.8 mln
| Corporate News |
HYDRAULIC <THC> SPLITS 3-FOR-2, HIKES DIVIDEND
| The Hydraulic Co said its
board approved a three-for-two stock split of its common stock
and increased its quarterly cash dividend.
It said the stock split will occur through a 50 pct stock
distribution on Hydraulic's common stock, payable April 30 to
stockholders of record on April 3.
The quarter... | Commodities and Trade |
HUGHES SUPPLY INC <HUG> 4TH QTR NET
| Shr 52 cts vs 49 cts
Shr diluted 1.95 dlrs vs 1.99 dlrs
Net 1,751,609 vs 1,622,503
Sales 85.9 mln vs 85.1 mln
Year
Shr 2.10 dlrs vs 1.99 dlrs
Shr diluted 1.95 dlrs vs 1.99 dlrs
Net 6,822,493 vs 6,601,717
Sales 347.8 mln vs 324.6 mln
| Financial Reports |
PREWAY INC <PREW> 4TH QTR LOSS
| Shr loss 64 cts vs loss 1.29 dlrs
Net loss 5,732,000 vs loss 4,924,000
Sales 18.8 mln vs 23.6 mln
Avg shrs 9.0 mln vs 3.8 mln
Year
Shr loss 1.82 dlrs vs loss 3.65 dlrs
Net loss 12,267,000 vs loss 13,911,000
Sales 112.8 mln vs 129.3 mln
Avg shrs 6.7 mln vs 3.8 mln
| Corporate News |
MOORE-MCCORMACK <MMR> COMPLETES UNIT SALE
| Moore McCormack Resources Inc
said it has completed the previously-announced sale of its
Interlake Steamship Co and Moore McCormack Bulk Transport Inc
Great Lakes and ocean bulk shipping units to James R. Barker.
The company said president Paul Tregurtha has succeeded
Barker as chairman and chief execut... | Corporate News |
SUDAN REJECTS IMF DEMAND FOR DEVALUATION
| Sudan has rejected a demand by the
International Monetary Fund for a currency devaluation because
such a move would have a negative impact on its economy, the
official Sudan News Agency (SUNA) reported.
Finance Minister Beshir Omer, quoted by SUNA, said his
government also rejected an IMF demand to lift... | Industrial and Sector News |
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