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REAGAN TO ADDRESS NATION WEDNESDAY NIGHT | White House Chief of Staff Howard
Baker said President Reagan will address the nation in a
nationally televised speech Wednesday night at 2100 EST on the
Tower Commission Report on the arms to Iran scandal.
Baker, in his first news conference as chief of staff, also
said that Robert Gates asked that his name be wit... |
CANADA GOVERNMENT SPENDING TO RISE 3.8 PCT | The federal government's expenditures
will rise 3.8 pct in the fiscal year beginning April 1 to
110.14 billion dlrs from 107.01 billion dlrs in fiscal 1987,
the Treasury Board said.
The board noted the growth in the main estimates is the
lowest since 1962, and below last year's 3.9 pct increase.
After inclusion... |
ADVANCE CIRCUITS <ADVC> GETS LOAN AGREEMENT | Advance Circuits Inc said it
has signed a 9,500,000 dlrs borrowing agreement with Washington
Square Capital Inc.
The new loan consists of a revolving credit facility of
seven mln dlrs based on accounts receivable and a term loan of
2,500,000. The interst rate on the loans is 2.75 pct over the
prime rate, with futur... |
BAKER SAYS REAGAN TO MEET PRESS "VERY SOON" | White House Chief of Staff Howard
Baker said President Reagan will meet the press "very soon."
Baker told a brief news conference "I expect you'll see the
president very soon" when asked by reporters when Reagan
expected to resume his news conferences. Reagan has not met the
press since November 19.
Baker said ... |
TEXAS AIR <TEX> UNIT TO BEGIN NEW SERVICE | Texas Air Corp's Eastern Airlines said it
will offer low fare, night-time service from Chicago's O'Hare
International Airport to 18 U.S. cities.
It had previously offered similar service out of Houston.
The company said one-way fares range from 39 dlrs to St.
Louis to 89 dlrs to Los Angeles, San Francisco and o... |
TONKA <TKA> EXPANDS AUSTRALIAN OPERATIONS | Tonka Corp said it agreed to
become the exclusive distributor of Tokyo-based Bandai Co Ltd
toy lines in Australia and New Zealand and also agreed to buy
the business of Bandai Australia.
Terms of the transaction were not disclosed.
The Bandai agreement and other actions are expected to add
15 mln dlrs to Tonka'... |
BARNETT BANKS OF FLORIDA <BBF> REDEEMS STOCK | Barnett Banks of Florida Inc
called for redemption of all outstanding shares of its Series E
4.25 dlrs cumulative convertible preferred stock.
The company said the redemption date will be May 8, 1987.
Under the terms of the redemption, shareholders may convert
or redeem their shares. The bank said shares may be... |
HECK'S <HEX> SAYS CREDIT AGREEMENT EXPIRED | Heck's Inc said that its credit
agreement with a group of banks expired on February 28 and that
the banks are demanding payment on the loans.
Heck's, which did not disclose the amount being sought by
the banks, said it is holding discussions with its lenders that
should be completed sometime this week.
Heck's a... |
TURNER CORP <TUR> UNIT BUILDS HOSPITAL ADDITION | The Turner Corp's construction
company New York said its Orange County office has begun
building a 23 mln dlr addition to Kaiser Permanente Medical
Center.
The five-story, 197,000 square foot adition will be used
primarily as an outpatient treatment clinic, it said.
Developer for the project is Kaiser Foundatio... |
GREY ADVERTISING <GREY> FORMS NEW DIVISION | Grey Advertising Inc's GreyCom Inc
subsidiary said it established a new division GreyCom Corporate
and Financial.
Reuter
|
MFS MANAGED MUNCIPAL BOND TRUST SETS PAYOUT | <MFS Managed Muncipal Trust Bond>
said it declared a monthly payout income distribution of 5.7
cts a share compared with 5.6 cts for the previous month.
It said the distribution is payable March 20 to
shareholders of record March two.
Reuter
|
COMMERCIAL CREDIT <CCC> SELLS 10-YEAR NOTES | Commercial Credit Co is raising 150 mln
dlrs through an offering of notes due 1997 yielding 8.217 pct,
said lead manager Morgan Stanley and Co Inc.
The notes have an 8-1/8 pct coupon and were priced at
99.375 to yield 105 basis points more than comparable Treasury
securities.
Non-callable for life, the issue is... |
ATT <ATT> GETS 57.3 MLN DLR CONTRACT | American Telephone and Telegraph Co
has received a 57.3 mln dlr contract to develop laboratory
equipment for an Enhanced Modular Signal Processor, the Navy
said.
reuter
|
AMC <AMO> EXTENDS INCENTIVE PROGRAM | American Motors Corp said it
is offering up to 700 dlrs on 1986 and 1987 Jeep Cherokee and
Wagoneer vehicles bought until March 31.
Rebates are 700 dlrs for two-door vehicles and 500 dlrs on
four-door models.
This is the first time cash rebates are available on these
two Jeeps, a spokesman said. Not included is... |
ADVANCED SYSTEMS <ASY> TO DISTRIBUTE COURSES | Advanced Systems Inc said it acquired
distribution rights to three interactive video courses
developed by NCR Corp <NCR>.
The three courses, for data processing professionals and
bankers, are delivered through interactive video, which
combines video discs, personal computers and touch-screen
monitors.
Reuter
|
U.S. BRASS MILL COPPER STOCKS LOWER IN JANUARY | U.S. brass mill copper stocks fell to
185,400 short tons (copper content) at the end of January from
191,200 short tons at the end of December, according to the
American Bureau of Metal Statistics.
Consumption by brass mills increased to 60,700 short tons
in January from 48,900 short tons in December.
Mills con... |
MFS MUNICIPAL INCOME TRUST <MFM> SETS PAYOUT | MFS Municipal Income Trust said it
declared a monthly income distribution of 5.7 cts a share
compared with 5.5 cts a share paid in the previous month.
It said the distribution is payable March 27 to
shareholders of record March 13.
Reuter
|
PITTWAY CORP <PRY> 4TH QTR NET | Shr 1.35 dlrs vs two dlrs
Net 6,195,000 vs 9,202,000
Sales 157.5 mln vs 151.6 mln
Year
Shr 6.02 dlrs vs 6.78 dlrs
Net 27,608,000 vs 31,117,000
Sales 585.7 mln vs 541.3 mln
Reuter
|
<SIEMENS AG> U.S UNIT TO BEGIN MAKING SYSTEMS | <Siemens AG's> U.S. subsidiary,
Siemens Public Switching Systems Inc said two existing plants
have been selected to allow immediate start up of manufacturing
on an interim basis of EWSD digital central office switching
systems in the U.S.
The company said the two facilities, one in Cherry Hill,
N.J., the other in H... |
ARMTEK <ARM> TO SELL INDUSTRIAL TIRE UNIT | Armtek Corp, previously the
Armstrong Rubber Co, said it agreed to sell its industrial tire
and assembly division to a Dyneer Corp <DYR> for an undisclosed
sum.
It said the agreement covers the division's tire production
facility in Clinton, Tenn., and its plants serving original
equipment and replacement markets. ... |
U.S. SIGNS TAX TREATY WITH VIRGIN ISLANDS | The Treasury Department said the
United States and the Virgin Islands have signed a tax treaty
to exchange tax information and provide mutual assistance in
tax matters.
The agreement was needed to trigger provisions of the Tax
Reform Act of 1986 allowing the Virgin Islands to offer
investment incentives by reducing... |
CME SETS FEBRUARY TRADING VOLUME RECORD | The Chicago Mercantile Exchange (CME)
posted record trading volume for the month of February when
6,556,464 futures and options contracts changed hands, up 15.2
pct from last February's volume of 5,693,243 contracts.
Interest rate futures trading was the most active segment
at the exchange, with Eurodollar futures ... |
SOFTWARE COS SUPPORT NEW APPLE <AAPL> PRODUCTS | Over 30 software companies announced
programs to support Apple Computer Inc's new Macintosh II and
Macintosh SE computers.
At a seminar where the products were introduced, software
makers such as Ashton-Tate <TATE>, Microsoft Corp <MSFT> and
Lotus Development Corp <LOTS> announced new or existing
products now acces... |
AMERICAN ELECTRIC <AEP> UNIT REDEEMING BONDS | Appalachian Power Co, a unit of
American Electric Power Co, said it will redeem on May one an
additional 1.38 mln dlrs of its 12-7/8 pct first mortgage bonds
due 2013.
That increases to 2.88 mln dlrs the amount of bonds the
utility will buy back. Appalachian Power said it will redeem
the bonds at par plus accrued i... |
AVX CORP <AVX> DEBT AFFIRMED BY S/P | Standard and Poor's Corp said it
affirmed the B-plus rating on AVX Corp's 28 mln dlrs of
subordinated debt.
The company's implied senior debt rating is BB.
S and P said AVX's purchase offer for CTS Corp <CTS> has
expired and the acquisition does not appear likely to occur.
AVX was listed on S and P's creditwatc... |
FDA OKAYS DRUG TO LESSEN HEMOPHILIACS' BLEEDING | The federal Food and Drug
Administration said it approved for U.S. marketing a drug that
reduces bleeding in hemophiliacs requiring dental work.
The FDA said the drug, tranemaxic acid, would lessen and in
some cases eliminate altogether the need for blood transfusions
in hemophiliacs who must have teeth extracted.
... |
KIDDER UNIT SELLS CMOS, INCLUDING FLOATERS | Kidder, Peabody Mortgage Assets Trust
Five, a unit of Kidder, Peabody and Co Inc, is offering 500 mln
dlrs of collateralized mortgage obligations in seven classes,
including floating-rate and inverse-rate tranches.
Sole manager Kidder Peabody said the first floating-rate
class has an initial rate of 6.755 pct that ... |
PETROLITE CORP <PLIT> SETS PAYOUT | Qtly dividend 28 cts vs 28 cts
Pay April 24
Record April 10
Reuter
|
NYMEX TO SUBMIT PROPANE PROPOSAL TO CFTC | The New York Mercantile Exchange expects
to submit a propane futures contract for federal regulatory
approval within a few days, according to an exchange
spokeswoman.
As previously announced, the Board of Governors of the
exchange approved the contract last month. The exchange will
now submit the contract to the Co... |
australian annual broad money supply growth 10.3 pct in January
| |
GM FEBRUARY U.S. CAR OUTPUT 358,661, DOWN FROM 398,823 LAST YEAR
| |
GM <GM> OUTPUT FELL LAST MONTH | General Motors Corp said its February
U.S. car production declined to 358,661 from 398,823 a year
ago.
GM said its U.S. truck production declined to 128,099 from
135,434 a year ago.
Year-to-date, GM said car output declined to 669,370 from
839,097 and truck production eased to 250,999 from 279,181.
Reuter
|
YEUTTER BLASTS PROPOSED EC OILS AND FATS TAX | U.S. trade representative Clayton
Yeutter today said that if the European Community's Council of
Ministers approves a tax on vegetable oils and fats, another
major transatlantic trade row will erupt over agriculture.
In a statement issued by the trade representative's office
following a speech to the American Soybe... |
EXXON <XON> CUTS HEATING OIL BARGE PRICE | Oil traders in New York said Exxon
Corp's Exxon U.S.A. unit reduced the price it charges contract
barge customers for heating oil in New York harbor 0.75 cent a
gallon, effective today.
They said the reduction brings Exxon's contract barge price
to 43.25 cts. The price decrease follows sharp declines in
heating oil... |
GREECE SAYS IT HAS RIGHT ON AEGEAN OIL DRILLING | Greece, responding to a warning by Turkey
against conducting oil activities in the Aegean Sea, said today
it had the right to decide where and how to do research or
drilling work in the area.
A government spokesman said the Greek position was made
clear to Turkey's ambassador Nazmi Akiman when he met Greek
Foreign ... |
LEUCADIA <LUK> HAS 7.2 PCT OF MINSTAR <MNST> | Leucadia National Corp said two of
its subsidiaries have acquired a 7.2 pct stake in Minstar Inc,
a corporation controlled by corporate raider Irwin Jacobs and
used by him in his forays to acquire stock in companies.
In a filing with the Securities and Exchange Commission,
Leucadia said its LNC Investments Inc, a N... |
BASIX CORP <BAS> 4TH QTR LOSS | Oper shr loss eight cts vs profit 20 cts
Oper net loss 768,000 vs profit 1,962,000
Revs 49.0 mln vs 43.6 mln
12 mths
Oper shr loss 1.41 dlrs vs profit 96 cts
Oper net loss 13.6 mln vs profit 9,305,000
Revs 175.3 mln vs 140.7 mln
Note: Oper excludes loss from discontinued operations of
4,676,... |
MONTREAL EXCHANGE NAMES NEW PRESIDENT | The Montreal Exchange said it named
Bruno Riverin, president of Quebec's Caisse centrale
Desjardins, as its new president and chief executive officer.
Riverin replaces former exchange president Andre Saumier,
who resigned in January to set up a brokerage firm.
Riverin's appointment is effective March 26, the ex... |
AUSTRALIAN JANUARY ANNUAL BROAD MONEY UP 10.3 PCT | Australia's broad money supply rose 10.3
pct in the year ended January, up from a revised 9.6 pct in
December, the Reserve Bank said.
This compares with the previous January's 13.9 pct.
In January broad money growth slowed to 0.7 pct from
December's 1.5 pct and compared with nil growth in January
1986.
With... |
MICROBIO <MRC> PLANS ACQUISITION, FINANCING | Microbiological Research Corp
said it entered into a letter of intent for a proposed business
combination with privately owned <DataGene Scientific
Laboratories Inc>, and <Milex Corp> a newly formed company,
through a stock swap.
It also said it received 100,000 dlrs from the sale of a
convertible note to Ventana G... |
NATIONAL BANK ISSUES MORTGAGE-BACKED SECURITIES | <National Bank of Canada> said it is
issuing 25 mln dlrs worth of mortgage-backed securities
recognized by the federal government's Canada Mortgage and
Housing Corp.
The bank said the issue is divided into two pools--one
bearing annual interest of 8-3/4 pct and the other 8-5/8 pct,
with interest calculated semi-ann... |
ICO COUNCIL ENDS IN FAILURE TO AGREE QUOTAS | A special meeting of the International
Coffee Organization (ICO) council failed to agree on how to set
coffee export quotas, ICO delegates said.
Producers and consumers could not find common ground on the
issue of quota distribution in eight days of arduous, often
heated talks, delegates said.
Export quotas -- ... |
FRANCE HAS LITTLE ROOM FOR MANOEUVRE, OECD SAYS | French industry is failing to produce the
goods its markets need and its loss of competitiveness has left
the government little room for manoeuvre to reflate the
economy, the Organisation for Economic Cooperation and
Development said.
With gross domestic product likely to grow only 2.1 pct
this year, the same rate ... |
PAINEWEBBER<PWJ> UNIT UPS SHAER SHOE <SHS> STAKE | Mitchell Hutchins Asset Management
Inc, a New York investment firm and subsidiary of PaineWebber
Group Inc, said it raised its voting stake in Shaer Shoe Corp
to 76,000 shares, or 7.5 pct, from 52,100 shares, or 5.1 pct.
In a filing with the Securities and Exchange Commission,
Mitchell Hutchins said it bought 11,90... |
ORACLE SYSTEMS CORP <ORCL> TO OFFER STOCK | Oracle Systems Corp said it
plans to register with the Securities and Exchange Commission
to offer two mln share of its common stock.
If these shares, about 1.5 mln shares woll by sold by the
company and up to 500,000 shares by be sold by certain
shareholders.
Oracle, which recently announced a two-for-one stoc... |
TELECREDIT INC <TCRD> 3RD QTR JAN 31 NET | Shr 32 cts vs 22 cts
Net 3,454,000 vs 2,224,000
Revs 33.2 mln vs 28.1 mln
Nine mths
Shr 64 cts vs 38 cts
Net 6,935,000 vs 3,877,000
Revs 86.8 mln vs 70.9 mln
Reuter
|
COUSINS HOME FURNISHINGS <CUZZ> GET CREDIT LINE | Cousins Home Furnishings Inc said it
obtained a 5.0-mln-dlr working capital line of credit from
Lloyds Bank PLC, through its Los Angeles branch.
The credit is supported by a guarantee from the company's
Canadian affiliate, The Brick Warehouse Ltd, which will receive
200,000-dlrs worth of the company's stock.
Th... |
LASER PRECISION CORP <LASR> 4TH QTR NET | Shr profit 14 cts vs profit two cts
Net profit 452,723 vs profit 50,581
Revs 5,065,543 vs 2,898,363
Year
Shr profit 45 cts vs loss 15 cts
Net profit 1,276,472 vs loss 340,081
Revs 16.0 mln vs 9,304,466
Reuter
|
REXNORD <REX> TO REDEEM RIGHTS | Rexnord Inc said it will redeem
all of its preferred stock purchase rights for 10 cts a right
effective today.
Rexnord said the rights will be redeemed because it is
expected its shares will be tendered under a January 30
takeover offer from Banner Acquisition Corp. The rights trade
in tandem with Rexnord's common ... |
CANTREX UNIT TO MERGE WITH ONTARIO GROUP | (Groupe Cantrex Inc) said it plans to
merge a new wholly-owned subsidiary a merger agreement with
(CAP Appliance Purchasers Inc), of Woodstock, Ontario, a group
of about 400 appliance and electronics retailers.
It said CAP shareholders will receive 140,700 first
preferred Groupe Cantrex shares entitling the holders... |
INVESTMENT FIRM BOOSTS LDBRINKMAN <DBC> STAKE | Two affiliated investment firms and
the investment funds they control said they raised their
combined stake in LDBrinkman Corp to 653,600 shares, or 10.9
pct of the total outstanding from 585,600 shares, or 9.7 pct.
In a filing with the Securities and Exchange Commission,
Fidelity International Ltd, a Bermuda-based... |
ITT'S <ITT> HARTFORD UNIT POSTS 4TH QTR GAIN | Hartford Insurance Group, a unit
of New York-based ITT Corp, said higher worldwide premiums help
boost net income for the 1986 fourth quarter to 88.6 mln dlrs,
from net income of 36.7 mln dlrs for the 1985 quarter.
For the full year, Hartford said it earned 329 mln dlrs, up
from 151.4 mln dlrs in 1985.
Hartford ... |
SEC PROBES 1986 TRE <TRE> TAKEOVER ATTEMPT | The federal Securities and Exchange
Commission (SEC) is looking for possible securities laws
violations in connection with an unsuccessful 1986 bid by
Hollywood producer Burt Sugarman to take over TRE Corp,
attorneys contacted by SEC investigators said.
During the takeeover attempt, a unit of Sugarman's Giant
Group... |
REGAN DEPARTURE MAKES 3RD VOLCKER TERM LIKELY | Last week's White House shake-up has
increased the odds that Federal Reserve Board chairman Paul
Volcker, a symbol of strength in a government reeling from the
arms-to-Iran scandal, will serve a third term, sources close to
the Fed say.
But they said that no decision on the appointment, which
must be filled this Au... |
CBT FEBRUARY VOLUME DOWN 14 PCT FROM YEAR AGO | February volume at the Chicago Board of
Trade, CBT, declined 14 pct from the year-ago month to
8,191,266 contracts, the exchange said.
A relatively steady interest rate climate reduced volume in
the most active contract, Treasury bond futures, by 17.5 pct
from a year ago to 4,307,645 contracts.
However, trading... |
USSR WHEAT BONUS RUMORS PERSIST DESPITE DENIALS | Grain trade representatives continued
to speculate that the Reagan administration will offer
subsidized wheat to the Soviet Union, while U.S. Agriculture
Department officials said there was no substance to the
reports.
"It's pure fiction," said one senior official at USDA's
Foreign Agricultural Service, referring t... |
CANADIAN SEAFARERS THREATEN STRIKE | Canadian seafarers are almost certain
to go on strike this spring in a refusal to meet rollbacks in
wages and benefits asked for by their employers, Seafarers'
International Union official Roman Gralewicz said.
"It's 99.9 percent--I guarantee you a strike," Gralewicz
said in an interview.
The union represents a... |
REUTERS <RTRSY> IN REAL ESTATE MARKET VENTURE | Reuters Holdings PLC said its Reuters
Information Services Inc unit will join <Real Estate Financing
Partnership>, Philadelphia, to offer an electronic market
access system for commercial property financing.
Reuters said the system, named Real Estate Select View
Program, or RSVP, will use its private communications... |
DALLAS CORP <DLS> 4TH QTR LOSS | Oper shr loss 22 cts vs profit 10 cts
Oper net loss 1,626,000 vs pofit 702,000
Revs 98.3 mln vs 105.1 mln
12 mths
Oper shr profit 18 cts vs profit 82 cts
Oper net profit 1,293,000 vs profit 5,940,000
Revs 396.2 mln vs 396.7 mln
Note: Oper net excludes loss from discontinued operations
of 2,1... |
CONSTRUCTION CONTRACTING DOWN THREE PCT IN JAN | Contracting for future construction
work declined by three pct in January to an annualized rate of
236.1 billion dlrs, a report on the industry said.
The report by the F.W. Dodge Division of McGraw-Hill
Information Systems Co said a 10 pct reversal of nonbuilding
construction was largely responsible for the month's... |
DILLARD DEPARTMENT STORES INC <DDS> 4TH QTR NET | Qtr ended Jan 31
Shr 1.16 dlrs vs 1.15 dlrs
Net 32.4 mln vs 33.5 mln
Revs 629.0 mln vs 538.6 mln
Avg shrs 32.1 mln vs 29.2 mln
12 mths
Shr 2.35 dlrs vs 2.29 dlrs
Net 74.5 mln vs 66.9 mln
Revs 1.85 billion vs 1.60 billion
Avg shrs 31.7 mln vs 29.2 mln
Note: Shr/avg shrs data show ... |
EC MINISTERS BID TO SAVE DAIRY ACCORD | European Community (EC) farm ministers
were fighting hard early today to prevent a deal on cutting
overflowing milk production from turning sour before trying to
agree widescale reforms in other surplus sectors.
Meanwhile, protests from angry European farmers over
successive attempts to scale down unwanted Communit... |
CALNY INC <CLNY> SUES PEPSICO INC <PEP> | Calny Inc said it has filed a
multi-million-dlr suit against PepsiCo Inc and its La Petite
Boulangerie unit.
Calny, which holds 15 La Petite Boulangerie franchises,
alleges it and PepsiCo breached their agreements with Calny by
failing to support the franchises in a number of ways.
The company further alleges t... |
BRANIFF <BAIR> FEBRUARY LOAD FACTOR UP SLIGHTLY | Braniff Inc said its load factor, or
precentage of seats filled, was 50.5 pct in February, up
slightly from 50.2 pct for the same month last year.
Braniff said traffic for the month rose 44 pct, to 210.5
mln revenue passenger miles, from 146.2 mln a year ago. A
revenue passenger mile is one paying passenger flown o... |
KENTUCKY CENTRAL LIFE <KENCA> SETS PAYOUT | Kentucky Central Life Insurance
Co said it declared a semi-annual dividend of 55 cts per share,
payable March 31 to shareholders or record March 19.
The dividend is equal to the company's previous semi-annual
payout.
Reuter
|
BANK OF NEW ENGLAND CORP <BKNE> QTLY DIVIDEND | Qtly div 28 cts vs 28 cts prior
Pay April 20
Record March 31
Reuter
|
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.
Unemployment was up... |
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 were 326 mln d... |
REAGAN'S CIA MAN WITHDRAWS, VICTIM OF IRAN SCANDAL | President Reagan's nominee as
director of the Central Intelligence Agency (CIA), Robert
Gates, withdrew his name from consideration by the Senate in
the face of a long battle for confirmation.
His withdrawal was announced at a White House news
conference by Reagan's new Chief-of-Staff, Howard Baker, who
said the Pr... |
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, letters of credit... |
DENG SAYS CHINA'S TROUBLES OVER | Chinese leader Deng Xiaoping told
visiting U.S. Secretary of State George Shultz China's recent
troubles were over.
The two discussed Washington's scandal over U.S. Arms sales
to Iran and China's political situation after the fall of
Communist Party leader Hu Yaobang.
Deng said: "I know the President has had so... |
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 least for the ... |
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 result of
warmer ... |
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, duration and e... |
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 from around 1.... |
EC MINISTERS POSTPONE TALKS ON SAVING DAIRY PACT | European Community (EC) farm ministers
early today abandoned talks aimed at saving an agreement on
cutting excessive milk production after making no progress in
over 12 hours of negotiations.
The ministers will resume talks at 10.00 local time in a
bid to clear the way for a full-scale review of proposed
reforms fo... |
REAGAN APPROVAL RATING FALLS TO FOUR-YEAR LOW | President Reagan's approval rating fell
after the Tower Commission criticised his handling of the Iran
arms scandal, a New York Times/CBS poll indicates.
The poll found 51 pct of those surveyed thought he was
lying when he said he did not remember if he had approved the
original arms sales to Iran and 35 pct though... |
EARTHQUAKES CONTINUE TO SHAKE NORTHERN NEW ZEALAND | Earthquakes and aftershocks are still
shaking areas of northern New Zealand following yesterday's
strong tremor which left 3,000 people homeless.
Four earthquakes measuring up to 4.5 on the Richter scale
have hit the Bay of Plenty and Waikato region in the north-east
since midnight yesterday (1200 GMT).
No casu... |
CRA Ltd 1986 net profit 138.2 mln dlrs vs 87.8 mln
| |
N.Z. QUARTERLY CURRENT ACCOUNT DEFICIT NARROWS | New Zealand's current account deficit
for the quarter ended December 31, 1986 narrowed to 567 mln
dlrs from 738 mln, revised down from 742 mln, for the September
quarter and from 733 mln a year earlier, the statistics
department said.
The deficit for the year ended December narrowed to 2.75
billion dlrs from 2.91 b... |
AMERICAN AIRLINES TO ANNOUNCE BUYS, NEWSPAPER SAYS | <American Airlines Inc> is expected to
announce purchases from <Airbus Industrie>, Boeing Co <BA> and
General Electric Co <GE> amounting to 2.5 billion dlrs, the New
York Times said.
The paper quoted unnamed industry sources as saying
American will buy 25 wide-bodied planes from Airbus, 15
wide-bodies from Boeing a... |
TRANSAMERICA SELLS OCCIDENTAL LIFE AUSTRALIA | Equity investment company <Battery
Group Ltd> said it had agreed to buy <Occidental Life Insurance
Co of Australia Ltd> from TransAmerica Corp <TA> of the U.S.
For 105 mln Australian dlrs.
The acquisition has been made possible by the efforts of
its major shareholder, <Pratt and Co Financial Services Pty
Ltd>, Batt... |
CRA LTD <CRAA.S> 1986 NET | Net 138.20 mln dlrs vs 87.80 mln.
Shr 24.8 cents vs 17.8
Final div to announced after July 1, vs final 10 cents
making 15.
Sales revenue 4.81 billion vs 4.69 billion
Investment income 116.93 mln vs 60.61 mln
Shrs 494.35 mln vs 494.22 mln.
NOTE - Net is after tax 171.03 mln dlrs vs 188.52 mln,
in... |
MALAYSIA RE-IMPOSES EXPORT DUTIES ON RUBBER | The Malaysian government said it
has re-imposed export duties on rubber at 3/8 cent per kilo
after the gazetted price moved above the threshold price of 210
cents per kilo.
The gazetted price, effective March 1, rose to 213-1/2
cents per kilo from February's 207.
The duty for research remains at 3.85 cents per ... |
MALAYSIA RAISES DUTY ON PROCESSED PALM OIL | The government said it raised the
export duty on processed palm oil (PPO) to 64.06 ringgit per
tonne from 40.96 ringgit, effective from March 1.
Export duty on crude palm oil (CPO) was unchanged at 16.06
ringgit per tonne.
The gazetted price of PPO rose to 796.8604 ringgit per
tonne from 719.8286. That of CPO r... |
comalco ltd 1986 net profit 57.1 mln dlrs vs loss 69.1 mln
| |
COMALCO LTD <CMAC.S> 1986 NET | Net profit 57.1 mln dlrs vs loss 69.1 mln.
Net is equity accounted
Pre-equity accounted net 39.90 mln dlrs vs loss 49.11 mln
Pre-equity shr profit 7.1 cents vs loss 8.7
Final div to be announced after July 1 vs first and final
1.0 cent.
Sales 1.88 billion vs 1.78 billion
Other income 52.75 mln v... |
JAPANESE DEMAND FOR U.K. GILTS SEEN RISING | Japanese investor interest in British
gilt-edged securities is growing rapidly due to expectations
sterling will remain stable despite the drop in oil prices, and
on calculations gilt prices will firm, bond managers said.
Japanese, British and U.S. Securities houses have been
expanding inventories of gilts to meet ... |
JAPAN'S UNEMPLOYMENT RATE SEEN RISING TO 3.5 PCT | Japan's unemployment rate is expected to
continue to climb to about 3.5 pct within the next year from
January's three pct record, senior economists, including Susumu
Taketomi of Industrial Bank of Japan, said.
December's 2.9 pct was the previous worst level since the
government's Management and Coordination Agency ... |
SOUTH KOREAN TRADE SURPLUS NARROWS IN FEBRUARY | South Korea's customs-cleared trade
surplus narrowed to 110 mln dlrs in February from 525 mln in
January, provisional trade ministry figures show.
In February 1986 there was a deficit of 264 mln dlrs.
February exports rose to 2.87 billion dlrs, fob, from 2.83
billion in January and 2.30 billion in February 1986... |
TAIWAN REJECTS TEXTILE MAKER PLEA ON EXCHANGE RATE | Central bank governor Chang Chi-cheng
rejected a request by textile makers to halt the rise of the
Taiwan dollar against the U.S. Dollar to stop them losing
orders to South Korea, Hong Kong and Singapore, a spokesman for
the Taiwan Textile Federation said.
He quoted Chang as telling representatives of 19 textile
as... |
EGYPT ALLOWS FUGITIVE LIBYANS STAY | Egypt allowed five fugitive Libyan
soldiers who landed in a military plane in the far south of the
country last night to stay and flew them to Cairo, official
sources said.
It appeared the government had agreed to demands by the
five -- two officers and three privates -- for political asylum
but there was no immedi... |
U.S. ASKS JAPAN TO END AGRICULTURE IMPORT CONTROLS | The U.S. Wants Japan to eliminate import
controls on agricultural products within three years, visiting
U.S. Under-Secretary of State for Economic Affairs Allen Wallis
told Eishiro Saito, Chairman of the Federation of Economic
Organisations (Keidanren), a spokesman for Keidanren said.
The spokesman quoted Wallis as... |
JAPAN MOVES TO TIGHTEN CHIP-EXPORT CURBS | The Ministry of International Trade and
Industry (MITI) acted to tighten restrictions on microchip
exports to countries other than the U.S. To preserve a
U.S.-Japan pact on semiconductor trade, but major Japanese
chipmakers doubt its usefulness.
A MITI spokesman said his ministry had asked chipmakers to
issue certi... |
FINNISH UNEMPLOYMENT AT 6.7 PCT IN DECEMBER | Finnish unemployment was 6.7 pct in
December last year compared with 6.8 pct in November and 6.1
pct in December 1985, the Central Statistical Office said.
It said 173,000 people were unemployed in December 1986,
174,000 in November and 157,000 in December 1985.
REUTER
|
BANKERS SEE SHARP RISE IN THAI FOREIGN RESERVES | Thailand's improving economy will likely
cause foreign reserves to increase to at least five billion
dlrs by end-1987 from a record of nearly 4.2 billion at
end-February, private bankers said.
Bank of Thailand statistics show foreign reserves rose to
3.95 billion at end-January from 3.03 billion a year earlier.
... |
SWEDEN HAS CURRENT PAYMENTS SURPLUS IN 1986 | Sweden had a 1986 current balance of
payments surplus of 7.6 billion crowns compared with a deficit
of 10.1 billion the preceding year, according to preliminary
figures from the central bank.
The December current account had a 100 mln crowns deficit
against a yearago 200 mln deficit.December trade balance was
2.3 b... |
NEUTRAL BUDGET EXPECTED IN SINGAPORE | Singapore's Finance Minister Richard
Hu is expected to announce a neutral budget tomorrow with no
major tax changes for the 1987/88 year starting April 1,
bankers and economists told Reuters.
They said with real growth at an estimated 1.9 pct in
calendar 1986, indicating signs of recovery from the 1.7 pct
shrinkage... |
FISONS PLC <FISN.L> YEAR TO END-1986 | Shr 27.5p vs 24.3p
Div 3.95p vs 3.34p making 6.5p vs 5.5p
Pre-tax profit 85.1 mln stg vs 72.3 mln
Turnover 702.6 mln vs 646.7 mln
Tax 18.4 mln vs 15.2 mln
Finance charges 4.1 mln vs 5.4 mln
Minority interest 0.1 mln vs 0.5 mln
Extraordinary debit, being closure and restructuring costs
4.9 ml... |
MAJOR SWISS BANKS RAISE CUSTOMER TIME DEPOSIT RATES 1/4 POINT TO THREE PCT - CREDIT SUISSE
|
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