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Shares of Glaxo Holdings PLC fell following a report in todays New England Journal of Medicine that antibiotics may be able to treat ulcers threatening Glaxos billion dlr antiulcer drug Zantac analysts said. Glaxos was trading at 27-7/8 off 1/2 on volume of 1786800 shares. Shares of SmithKline Beckman <SKB> maker of... | GLAXO <GLX> STOCK OFF ON ULCER REPORT |
The International Tin Council ITC intervened in a High Court hearing in an attempt to prevent the presentation of internal Council documents as evidence. The intervention in Shearson Lehmans action against the London Metal Exchange over its ring out of tin contracts in 1986 is likely to have implications for other case... | ITC CONTESTS USE OF DOCUMENTS AS COURT EVIDENCE |
American Cyanamid Co said it plans to construct a multimillion-dollar addition to its agricultural flagship plant in Hannibal Mo. The company said the facilities will produce Assert herbicide the third in the companys new series of imidazolinone herbicides. Cyanamid which is a biotechnology and chemical research compan... | AMERICAN CYANAMID <ACY> TO BUILD PLANT ADDITION |
First Wisconsin Corp said it has agreed to sell its First Wisconsin Center in Milwaukee and adjacent property to Trammell Crow Co for 195 mln dlrs resulting in a gain of 77 mln dlrs after tax. It said 36 mln dlrs of that amount will be included in 1987 earnings and the remainder will be accounted for over the next 10 y... | FIRST WISCONSIN <FWB> TO SELL BUILDING FOR GAIN |
North Hills Electronics Inc said its North Hills Israel Ltd unit closed on a 1500000 dlr loan from Overseas Private Investment Corporation an agency of the U.S. government. North Hills said the unit will use the loan in connection with the construction and equipping of a 16000-square-foot manufacturing facility in Isra... | NORTH HILLS <NOHL.O> CLOSES LOAN |
The World Bank said it approved a 97.4 mln dlr loan for China to help boost fertilizer output in order to increase agricultural production. The 20-year loan supports a project aimed at improving the efficiency of medium-scale fertilizer plants through technical renovations and energy conservation the bank said. It said... | CHINA GETS 97.4 MLN DLR WORLD BANK LOAN |
Qtly div 2-1/2 cts vs 2-1/2 cts prior Pay Oct One Record Sept Three Reuter | TRITON ENERGY CORP <OIL> SETS QUARTERLY |
Reynolds Metals Co said it plans to restart the last idle potline at its Troutdale Ore. primary aluminum plant. With the restart of this 22700 tonne a year production line Reynolds said it will be operating at 100 pct of its consolidated primary aluminum capacity of 695000 tonnes per year. Reynolds said work on the res... | REYNOLDS METALS TO RESTART IDLE POTLINE |
Fingermatrix Inc said 2368253 of the 2649387 rights to purchase common shares that it issued to shareholders were exercised and Hallwood Group Inc <HWG> has purchased 165000 common shares under an option to buy shares for which rights were not exercised. In addition it said it received oversubscription requests for ... | FINGERMATRIX <FINX.O> COMPLETES RIGHTS OFFERING |
Allegheny and Western Energy Corp said it was forming a subsidiary to market gas to smaller users in West Virginia. The company also said it completed negotiations to sell between 10 and 12 mln cubic feet of gas per day to a large unspecified East Coast utility. Interstate markets will become part of the subsidiarys op... | ALLEGHENY <ALGH.O> FORMING SUBSIDIARY |
Senate Banking committee chairman William Proxmire D-Wis said a conference will be held with the House Banking committee next week on a bill to refinance the Federal Savings and Loan Insurance Corp. The Senate has passed a 7.5 billion dlr FSLIC refinancing while the House approved five billion dlrs in new funds. The Se... | PROXMIRE SAYS FSLIC CONFERENCE SET FOR NEXT WEEK |
OBrien Energy Systems Inc said it expects net income for the year ending June 30 of 12 to 15 cts per share up from eight cts last year. The company said the earnings will be aided substantially be an agreement it has signed with Trafalgar House PLC <THSL.L>. Under the agreement it said Trafalgar will provide turnkey... | O'BRIEN ENERGY <OBS> SEES HIGHER YEAR NET |
PPG Industries said it signed an agreement with Formosa Plastics Group to build and operate a continuous strand fiber glass manufacturing plant in Taiwan. The 50-50 joint venture of PPG and Nan Ya Plastics a corporation of Formosa Plastics Group is subject to approval of Taiwan governmental agencies. PPG said the plant... | PPG INDUSTRIES <PPG> TO BUILD TAIWAN PLANT |
Consumers Power Co is raising 250 mln dlrs through a two-tranche offering of first mortgage bonds said lead manager Morgan Stanley and Co Inc. A 150 mln dlr offering due 1992 was given a nine pct coupon and par pricing to yield 112.5 basis points over comparable Treasuries. This tranche is non-callable for life. A comp... | CONSUMERS <CMS> SELLS BONDS IN TWO TRANCHES |
Qtly div 95 cts vs 95 cts prior Pay August three Record June 30 Reuter | NYNEX CORP <NYN> SETS QTLY DIVIDEND |
Ronald Perelman head of Revlon Group Inc <REV> may be trying to ignite a bidding war for Gillette Co that could draw some big international players and in the process make a lot of money for himself Wall Street analysts said. Several hours before a regularly scheduled board of directors meeting Gillette disclosed th... | GILLETTE <GS> SEEN OBJECT OF GLOBAL BIDDING WAR |
The World Bank said it approved a 97.4 mln dlr loan for China to help boost fertilizer output in order to increase agricultural production. The 20-year loan supports a project aimed at improving the efficiency of medium-scale fertilizer plants through technical renovations and energy conservation the bank said. It said... | CHINA GETS WORLD BANK LOAN FOR FERTILIZER |
PNC Financial Corp said it will raise its loan loss reserve by 110 mln dlrs to about 386 mln dlrs reducing second quarter results by 66 mln dlrs or 92 cts per share on a fully diluted basis. The company said that after the charge it still expects to report a second quarter profit and expects a first half profit of abou... | PNC FINANCIAL <PNCF.O> RAISES LOSS RESERVE |
A.H. Robins Co facing suits over its Dalkon Shield birth control device said a Federal Court of Appeals approved of the way the company notified potential victims about a possible liability. The notification of potential claimants which began in january 1986 and ended several months later was challenged by some claiman... | A.H. ROBINS <QRAH> WINS APPEALS COURT RULING |
Aluminum Co of America said it is offering to purchase any and all of its outstanding 150 mln dlrs of 12 pct sinking fund debentures of 2012. It said it will buy back the debentures at 1105 dlrs per 1000 dlr principal amount plus accrued interest up to but not including the day of payment. The offer will end at 1700 ED... | ALCOA <AA> TO BUY BACK 12 PCT DEBENTURES |
MINPECO LIFTS FORCE MAJEURE ON ZINC INGOT SHIPMENTS FROM CAJAMARQUILLA-SPOKESMAN | |
TRW Incs TRW Componenets International Inc unit said it set a pact with Tektronix Incs TriQuint Semiconductor unit to jointly supply gallium arsenide devices for space applications. As part of the agreement the two companyies are working together to establish procedures to produce class S (a stringent military specific... | TRW INC <TRW> SETS PACT WITH TEKTRONIX <TEK> |
Perus state minerals marketing arm Minero Peru Comercial SA (Minpeco) lifted a force majeure on zinc ingot shipments from the countrys biggest zinc refinery at Cajamarquilla a spokesman said. The spokesman said the problems affecting sulphuric acid and roaster plants that had halted production since May 4 had been reso... | FORCE MAJEURE LIFTED AT CAJAMARQUILLA |
ASSETS OF U.S. MONEY FUNDS FELL 702.4 MLN DLRS IN LATEST WEEK TO 235.75 BILLION | |
Moodys Investors Service Inc said it may downgrade Crazy Eddie Incs 65 mln dlrs of B-1 convertible subordinated debentures. Moodys cited Crazy Eddies reduced profitability recent acquisition proposals for the company that could increase debt leverage and an uncertain earnings outlook. The agency said its review would c... | CRAZY EDDIE <CRZY> MAY BE DOWNGRADED BY MOODY'S |
AMERICAN EXPRESS BANK LTD WILL ADD 600 MLN DLRS TO LOAN LOSS RESERVES | |
Mexico signed a rescheduling accord covering 120 mln dlrs in official debts to Britain as part of a 1.8 billion dlr restructuring agreed with the Paris club of creditors last year the finance ministry said. The rescheduling is over 10 years with five years grace and carries an interest margin of 1/2 pct over libor. Fin... | MEXICO SIGNS 120 MLN DLR RESTRUCTURING WITH U.K. |
CNS Inc said it completed its initial public offering of 1035000 shares of common stock at 3.75 dlrs a share through an underwriting group headed by Engler-Budd and Co Inc. Concurrent with the offering the company made an exchange offer in which it issued 277127 common shares in exchange for 935333 dlrs of outstanding ... | CNS <CNXS.O> COMPLETES INITIAL PUBLIC OFFERING |
USX Corp said its USS division has available a comprehensive sheet steel selection and pricing system detailing the companys full line of products. The company said it was the first complete update in 25 years. The new prices in the book are effective after Oct One 1987 the company said. Reuter | USX <X> UNIT OFFERS STEEL PRICES DIRECTORY |
Inspiration Consolidated Copper Co a subsidiary of Inspiration Resources Corp said it is lowering its base price for full-plate copper cathodes by 0.50 cent to 74.0 cents a lb effective immediately. Reuter | INSPIRATION CUTS COPPER PRICE 0.50 CT TO 74 CTS |
Shr 58 cts vs 38 cts Net 4628650 vs 3041407 Revs 45.0 mln vs 28.1 mln Reuter | <AGF MANAGEMENT LTD> SIX MTHS MAY 31 NET |
China has added 30000 tonnes of U.S. corn to its previous commitments according to the U.S. Agriculture Departments latest Export Sales report. The report covering transactions in the week June 11 the additional corn resulted from changes in destinations. Total corn commitments for delivery in the 1986/87 season amount... | CHINA ADDS CORN TO COMMITMENTS - USDA |
Period ended May 31 Shr loss five cts vs loss 11 cts Net loss 306007 vs loss 102420 Sales 110522 vs 10105 NOTE: Full name is Data Med Clinical Support Services Inc Per-share data adjusted for three-for-one stock split payable June 30 1987 The only sales reflected in fiscal 1987 period are sales recorded subsequent to t... | DATA MED CLINICAL SUPPORT<DMCS.O> 1ST QTR LOSS |
Alexander and Alexander Services Inc said it formed an insurance unit known as the Environmental Protection Insurance Co-Risk Retention Group to specialize in environmental liability coverage. The company said the unit has started preliminary underwriting activities and will provide environmental impairment coverage to... | ALEXANDER <AAL> ESTABLISHES INSURANCE UNIT |
Standard and Poors Corp said it may downgrade Southland Corps 156 mln dlrs of debt securities and 125 mln dlrs (liquidation value) of preferred stock. The agency cited Southlands announcement that it is studying various restructuring alternatives. S and P said that the company has been a rumored takeover target for a w... | SOUTHLAND <SLC> MAY BE DOWNGRADED BY S/P |
Moodys Investors Service Inc said it may downgrade Crazy Eddie Incs 81 mln dlrs of B-1 convertible subordinated debentures. Moodys cited Crazy Eddies reduced profitability recent acquisition proposals for the company that could increase debt leverage and an uncertain earnings outlook. The agency said its review would c... | CORRECTED - CRAZY EDDIE <CRZY> MAY BE DOWNGRADED |
NOVA CORP SAYS IT IS CONSIDERING A TAKEOVER BID FOR DOME PETROLEUM | |
McDonnell Douglas Corp and Siemens AG <SIEG.F> said they signed a memorandum of understanding dealing with the AH-64 Apache helicopter. They said the memorandum deals with depot maintenance of the U.S. Armys helicopters based in West Germany and a joint study of the potential development and production of the helico... | MCDONNELL DOUGLAS <MD>, SIEMENS SIGN MEMORANDUM |
British companies are being largely frozen out of President Reagans Star Wars project despite earlier hopes of lucrative contracts from the research bonanza according to a report by Members of Parliament (MPs). Funding for the project formally known as the Strategic Defence Initiative (SDI) has so far amounted to some ... | UK "STAR WARS" CONTRACTS SEEN AS TOO SMALL |
Carter Hawley Hale Stores Inc said it has set June 29 as the record date for shareholders voting on the companys proposed restructuring at its annual meeting. The company has yet to set a date for the meeting but has said it will be held before the end of August. Under the proposal Carter Hawley would split into a spec... | CARTER HAWLEY <CHH> SETS RECORD DATE FOR VOTE |
Allegheny International Inc said it sold three of its industrial units which served the railroad industry to <Chemetron Railway Products Inc> a senior management group of Allegheny. Terms of the transaction were not disclosed. Included in the sale were Chemetron Railway Products True Temper Railway Appliances Inc an... | ALLEGHENY <AI> SELLS THREE INDUSTRIAL UNITS |
Qtly div 30.1 cts vs 30.1 cts prior Pay July 15 Record June 30 Reuter | VESTAUR SECURITIES INC <VES> QUARTERLY DIVIDEND |
Qtly div 26 cts vs 26 cts prior Pay July 15 Record June 29 Note:the companys full name is One Valley Bancorp of West Virginia Inc Reuter | ONE VALLEY BANCORP INC <OVWV.O> QTLY DIVIDEND |
Phillips Petroleum Co said its Provesta Corp unit will build a semi-commercial fermentation products plant with capacity of more than 3 mln lbs a year of Provesteen yeast. The company said construction of the plant is set to begin in August with completion due April-May 1988. It said the plant will be built by Jacobs E... | PHILLIPS PETROLEUM CO <P> UNIT BUILDS NEW PLANT |
Ram Industries Inc a unit of Cortez International Ltd. said an agreement has been reached with <Treasure Valley Foods> of Nampa Idaho to lease all of Treasures buildings and equipment. The company said the joint venture will be between Ram and one of its units Multiple Resources Inc and that the operation will retai... | CORTEZ <COZYF.O> UNIT SETS FOOD PARTNERSHIP |
Qtly div 13 cts vs 11-1/3 cts prior Pay Aug 3 Record July 15 Reuter | ENNIS BUSINESS FORMS INC <EBF> QTLY DIVIDEND |
Qtly div 15 cts vs 15 cts prior Pay July 28 Record July one Reuter | GREAT LAKES CHEMICAL CORP <GLK> SETS REG DIV |
The New York Stock Exchange said in connection with the triple expirations of stock index futures options and individual options it will disclose imbalances in 50 major stocks tomorrow at 0900 EDT and again at 1530 EDT. The information will be disclosed via financial news services. Reuter | NYSE TO DISCLOSE IMBALANCES TWICE TOMORROW |
Qtly div 59.5 cts vs 57 cts Pay July 31 Record July 2 Reuter | SOUTHERN CALIFORNIA EDISON <SCE> RAISES DIVIDEND |
MOODY'S AFFIRMS AMERICAN EXPRESS CO'S 8.6 BILLION DLRS OF DEBT | |
Sen. Tom Harkin D-Iowa defended his controversial mandatory supply control farm bill and said U.S. farmers should be allowed to vote in a referendum whether they approve of the proposal. The Harkin proposal would set loan rates of 5.17 dlrs per bushel for wheat 3.77 dlrs for corn and 9.32 dlrs for soybeans all to be pu... | SENATOR DEFENDS U.S. MANDATORY FARM CONTROL BILL |
MOODY'S MAY DOWNGRADE POTOMAC ELECTRIC'S 1.3 BILLION DLRS OF DEBT | |
Nova Corp is considering a takeover bid for Dome Petroleum Ltd either alone or as part of a consortium Nova chairman Bob Blair said. We are thinking about making an offer to Dome or Amoco (Canada Petroleum Co Ltd) or the creditors Blair told reporters before the annual meeting. Amoco Canada is a unit of Amoco Corp <... | NOVA <NVAA.TO> CONSIDERING BID FOR DOME <DMP> |
Red Lion Inns Limited Partnership said it declared an initial cash distribution of 43 cts per unit which is a proration of 50 cts per quarter. The distribution is payable August 14 to unitholders of record June 30. The payout was adjusted to reflect the actual number of days the partnership will have owned the hotels d... | RED LION INNS L.P. <RED> SETS INITIAL DIVIDEND |
Qtly div 95 cts vs 95 cts prior Pay Aug 3 Record June 30 Reuter | NYNEX CORP <NYN> QUARTERLY DIVIDEND |
Qtly div 12 cts vs 12 cts prior Pay Aug 10 Record July 10 Reuter | FIRST FEDERAL OF MICHIGAN <FFOM.O> QTLY DIV |
Standard and Poors Corp said it placed on creditwatch with negative implications Gillette Cos A-2 commercial paper pending the outcome of a possible takeover by Revlon Group Inc <REV>. Revlon currently bound by a standstill agreement following an earlier bid for the company has asked Gillettes board for permission t... | GILLETTE <GS> PAPER MAY BE CUT BY S/P |
Kraft Inc said it strongly disagreed with a complaint filed by the Federal Trade Commission that it made false and misleading claims about its Kraft Singles cheese product and said it would fight the charge. Kraft has always been committed to informative and truthful advertising and this compaign clearly meets those cr... | KRAFT <KRA> DEFENDS CHEESE ADVERTISING |
AMERICAN EXPRESS CO SEES 50 MLN DLR CONSOLIDATED LOSS IN 2ND QTR FROM ADDITION TO UNIT'S LOAN LOSS RESERVE. | |
The Federal Deposit Insurance Corp said the First Midwest Bank based in Maryville Mo. was closed by state regulators becoming the 91st federally insured bank to fail this year. The FDIC said First Midwests 25.1 mln dlrs in deposits are being assumed by the First Bank of Maryville a newly chartered subsidiary of (Citize... | FDIC SAYS MISSOURI-BASED BANK HAS FAILED |
First Wachovia Corp said it will add 50 mln dlrs to its loan loss reserve. It said about 35 mln dlrs will cover bad loans to developing countries and the balance is for domestic and international loans. First Wachovia also said it will report a second quarter capital gain of 14.3 mln dlrs from the sale of equity securi... | FIRST WACHOVIA <FW> ADDS TO LOAN LOSS RESERVE |
A White House associate personnel director Mark Sullivan emerged as a possible candidate to replace Susan Phillips as chairman of the Commodity Futures Trading Commission (CFTC). Commodity industry and government sources said Sullivan who is not well known to the commodities industry has emerged this week as a surprise... | WHITE HOUSE STAFFER CONSIDERED TO HEAD CFTC |
West German economic growth will slow to 1.5 pct this year from 2.4 pct in 1986 due to weak domestic demand and tougher competition from abroad the Organisation for Economic Cooperation and Development (OECD) said in its semi-annual review of the world economy. This view is less favourable than the West German governme... | OECD SEES GERMAN GROWTH HIT BY LOW DOMESTIC DEMAND |
WEDGE Group Inc a Houston investment firm said it raised its stake in TVX Broadcast Group Inc to 682419 shares or 15.1 pct of the total outstanding common stock from 559219 shares or 12.4 pct. In a filing with the Securities and Exchange Commission WEDGE said it bought 123200 TVX common shares at prices ranging from 8.... | INVESTMENT FIRM RAISES TVX <TVXG.O> STAKE |
Frances growth rate is expected to strengthen in the second half of this year after a poor first half but unemployment will worsen the Organisation for Economic Cooperation and Development (OECD) said. In its semi-annual review of the world economy the OECD forecast that growth in the French Gross Domestic Product (GDP... | HIGHER GROWTH, UNEMPLOYMENT IN FRANCE, OECD SAYS |
A group including members of the Sobey family of Nova Scotia and Empire Company Ltd said it raised its stake in Nash Finch Co to 442498 shares or 8.6 pct of the total outstanding from 374498 shares or 7.3 pct. In a filing with the Securities and Exchange Commission the group said it bought 68000 Nash Finch common share... | GROUP RAISES NASH FINCH <NAFC.O> STAKE |
REVLON SAYS IT REQUESTS NEW CONSENT AGREEMENT FROM GILLETTE | |
Italys economic outlook for 1987 and 1988 is likely to be less favourable than last year with slightly lower growth higher unemployment and an increased trade deficit the Organisation for Economic Cooperation and Development (OECD) said. But the OECD in its half-yearly report forecast a slightly lower inflation rate ov... | ITALIAN ECONOMIC OUTLOOK LESS BRIGHT, OECD SAYS |
Japans trade surplus is likely to continue to grow in 1987 as sales of Japanese goods abroad increase while domestic demand remains sluggish the Organization for Economic Cooperation and Development (OECD) said. In its latest half-yearly review of the world economy the OECD said Japan managed to considerably reduce its... | JAPAN TRADE SURPLUS WILL GROW AGAIN IN 1987, OECD |
U.S.-Canadian ties could worsen if the two nations are unable to reach a free trade pact according to a study published by two nonpartisan public policy research groups. The Cato Institute of Washington and the Fraser Institute of Vancouver said removing the remaining tariffs on cross border trade would benefit both co... | U.S.-CANADA TIES SEEN WORSE WITHOUT TRADE PACT |
Economic growth will remain sluggish in the Netherlands and Belgium next year and unemployment may rise the Organisation for Economic Cooperation and Development forecast. Belgiums GDP growth may slow down to 1.5 pct this year and next year bringing a rise in the number of jobless the OECD said in its semi-annual surve... | ECONOMIC GROWTH SEEN SLUGGISH IN BENELUX COUNTRIES |
Strong growth in domestic demand was a key feature of the economies of southern European countries in 1986 though the growth is seen slowing this year and next the Organisation for Economic Cooperation and Development said. In its semi-annual report the OECD said Portugals total domestic demand growth would decline fro... | SOUTHERN EUROPE HAS STRONG DOMESTIC DEMAND GROWTH |
High wage settlements in Nordic countries threaten to cut exports and reduce the international competitiveness of their industries the Organisation for Economic Cooperation and Development (OECD) said. In Denmark the OECD said wage settlements concluded in early 1987 were likely to contribute to a marked deterioration ... | OECD SAYS HIGH WAGE DEALS HARMING NORDIC STATES |
The United States should take urgent action to cut its crippling budget deficit including possible reductions in non-defense spending higher taxes and curbs on growth of the defense budget the Organization for Economic Cooperation and Development said. The OECD in its semi-annual review of the world economy said a fail... | OECD URGES ACTION TO CUT U.S. BUDGET DEFICIT |
Period ended May 2 Shr loss four cts vs loss three cts Net loss 397000 vs loss 330000 Revs 32.1 mln vs 30.4 mln Note: Full name Marks Work Wearhouse Ltd. Reuter | MARK'S WORK WEARHOUSE <(MWW.TO> 1ST QTR LOSS |
Playboy Enterprises Inc said its Playboy Licensing unit has entered into an agreement with Fashionport Private Ltd of India to market Playboy and Playmate fashions and accessories in India the Middle East and several Eastern bloc countries. Fashionport will produce mens and womens apparel leather garments footwear smal... | PLAYBOY <PLA> GETS LICENSING PACT IN INDIA |
REVLON SAYS IT IS WILLING TO WAIVE PRICE PROTECTION PROMPTLY UNDER CERTAIN CONDITIONS | |
Prospects for world economic growth remain very sluggish and coordinated action by western governments is urgently needed to restore business confidence stabilize currencies and encourage investment the Organization for Economic Cooperation and Development (OECD) said here. The economic situation has deteriorated in re... | JOINT ACTION SAID VITAL TO BOOST WORLD GROWTH |
Gulf and Western Incs <GW> Paramount Pictures Corp division said its movie Beverly Hills Cop II has topped the 100 mln dlr mark at the box office on the 29th day of its North American release. Paramount said the the movie has become the fastest movie to hit the 100 mln dlr mark with an R rating which means that anyo... | BEVERLY HILLS COP II TOPS 100 MLN AT BOX OFFICE |
Qtly div 44 cts vs 44 cts Pay July 31 Record July 3 Reuter | TRANSAMERICA CORP <TA> QUARTERLY DIVIDEND |
The House today supported a call for Japan to boost its defense spending to help share the burden of protecting Western interests in sensitive areas around the world including in the Gulf. House member approved a measure that would require Secretary of State George Shultz to enter into talks with Japan on increasing Ja... | U.S. HOUSE CALLS HIGHER JAPAN DEFENSE SPENDING |
OECD SEES 1.5 PCT WEST GERMAN REAL GNP GROWTH IN 1987 | |
Australias economy should manage modest growth over the next two years after a sharp slowdown but unemployment could still edge upwards the Organisation for Economic Cooperation and Development (OECD) said. The organisations latest half-yearly report says Gross Domestic Product will grow by 2.5 pct this year and by 2.7... | AUSTRALIA SET TO GROW, BUT UNEMPLOYMENT MAY RISE |
Robert Fildes president and chief executive of Cetus Corp <CTUS.O> told Reuters that Squibb Corp is not interested in buying Cetus. Earlier the companies said Squibb would buy from Cetus a five pct equity postion in Cetus for about 40 mln dlrs. This is not an attempt by Squibb to become a major majority holder in Ce... | SQUIBB <SQB> SAID NOT INTERESTED IN BUYING CETUS |
The National Broadcasting Co a unit of General Electric Co <GE> said it intends to implement on June 29 a labor contract rejected by union represenatives. A spokesman for the National Association of Broadcast Employees and Technicians represening 2800 workers said its negotiating committee adopted a formal resolutio... | NBC SAYS IT WILL IMPLEMENT CONTRACT JUNE 29 |
Mark Stahl 45 who was a former senior vice president of Shearson Lehman Brothers until his suspension on April 16 today admitted in U.S. District court here embezzling almost 19 mln dlrs from his firm over the past year. He entered a guilty plea before United States District Court Judge Vincent Broderick to four specif... | FORMER SHEARSON <SHE> OFFICIAL PLEADS GUILTY |
Shr four cts vs four cts Net 1180000 vs 902000 Revs 146.9 mln vs 37.0 mln Avg shrs 33 mln vs 23.9 mln NOTE: Company changed its fiscal year from December 31 to the last day of February thus results of operations for the year-ago period have been restated to reflect this change. Current first quarter includes results of... | TRI-STAR PICTURES INC <TRSP.O> 1ST QTR MAY 31 |
CANADA BUDGET DEFICIT DECLINE TO SLOW IN LATE 1980S - OFFICIAL Reuter | |
CANADA LIFTS CORPORATE TAX REVENUES BY FIVE BILLION DLRS OVER FIVE YEARS - OFFICIAL | |
WILSON CUTS PERSONAL TAX RATES, LIMITS CAPITAL GAINS EXEMPTIONS Reuter | |
CANADA LIFTS FINANCIAL INSTITUTION AVERAGE TAX RATE TO 21.3 PCT FROM 14.5 PCT - OFFICIAL | |
Canada will increase corporate tax revenues by about five billion dlrs over the next five years by broadening the tax base and allowing fewer exemptions finance minister Michael Wilson said. As Wilson previously promised he said corporations will bear an increased tax burden despite new measures to lower overall tax ra... | CANADA TO INCREASE CORPORATE TAX REVENUES |
The average tax rate for Canadian financial insitutions will increase to 21.3 pct from 14.5 pct under the new tax reform package the federal finance department said. The amount of financial institutions income that is taxed will also increase to 74.0 pct from 48.7 pct it said in documents tabled with finance minister M... | CANADA FINANCIAL TAX RATE INCREASED |
Canada will broaden a federal sales tax levied on manufacturers before scrapping the system in favor of a broad based multi-staged sales tax finance minister Michael Wilson said. As expected Wilson did not include a new sales tax system as part of his wide-ranging tax reforms tabled in the House of Commons today. Inste... | OTTAWA WIDENS SALES TAX, STUDIES REPLACEMENT |
Finance Minister Michael Wilson said tax reform will not affect his determination to reign in expenditures but his forecasts show a slowing of the decline in the budget deficit in the late 1980s. Responsible tax reform must be fiscally responsible Wilson said in a speech prepared for the House of Commons. Wilson estima... | FALL IN CANADIAN BUDGET DEFICIT TO SLOW |
Finance Minister Michael Wilson tabled a ways and means motion to immediately impose a special tax on preferred share dividends to eliminate a significant loss of corporate tax revenue. Under the motion which is used to introduce most financial tax changes dividends on all preferred shares issued after June 18 will be ... | CANADA'S WILSON SETS NEW PREFERRED SHARE TAX |
Finance Minister Michael Wilson unveiled a wide-ranging reform of the personal tax system that includes limiting the capital gains exemption and a sharp cut in the dividend tax credit. With most changes effective at the first of next year Wilson also announced he was cutting the number of tax brackets from 10 to three.... | CANADA SETS WIDE-RANGING PERSONAL TAX CHANGES |
ANZ BANKING GROUP SAYS IT WILL CUT PRIME RATE TO 16.00 PCT FROM 16.50 ON JUNE 22 | |
Japan still asking institutions to limit speculative dlr deals - Miyazawa | |
The Australia and New Zealand Banking Group Ltd <ANZA.S> said it will cut its prime rate to 16.00 pct from 16.50 effective June 22. The cut takes the ANZs prime to the lower end of the range of prime rates being offered by Australian trading banks. The highest rate is 17.50 pct. The cut follows announcements of cuts... | ANZ BANKING GROUP CUTS PRIME RATE TO 16.00 PCT |
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