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The Finance Ministry is still asking financial institutions to limit speculative dollar dealings Finance Minister Kiichi Miyazawa told reporters. He was responding to rumours in the New York currency market overnight that the Ministry was reducing its pressure on institutions to refrain from excessively speculative dol... | JAPAN STILL WANTS SPECULATIVE DLR DEALS LIMITED |
Prime Minister Rajiv Gandhis Congress (I) party was swept from power in the northern state of Haryana by an opposition landslide. The loss was a major personal setback for Gandhi whose vote-winning ability was on trial after political scandals in Delhi and a string of electoral losses since he took command of the party... | GANDHI PARTY BADLY DEFEATED IN INDIA STATE POLL |
The government will take emergency measures if the present wave of violent protest demonstrations continues state radio said. The radio which did not specify the measures said the decision was taken today at a meeting of top ministers and security officials attended by Prime Minister Lee Han-key. It said a special stat... | SOUTH KOREA THREATENS EMERGENCY MEASURES |
A Circuit Court judge ordered the company that insured the solvency of International Medical Centres Inc to show cause why it should not honour its contract with International according to Floridas Department of Insurance which had filed a petition on the matter. As previously reported International the largest health ... | COURT ORDERS INT'L MEDICAL INSURER TO SHOW CAUSE |
The ruling Brazilian Democratic Movement Party (PMDB) will hold a national convention on July 18 and 19 to discuss the length of the Presidential term a PMDB spokesman said. Although the countrys constitution allows for a six-year term Sarney said he would remain only five years after he came to power in 1984. The Cons... | BRAZIL RULING PARTY TO DECIDE ON PRESIDENTIAL TERM |
New U.S. Banking data suggest the Federal Reserve is guiding monetary policy along a steady path and is not signalling any imminent change of course economists said. But they also said that if money supply growth remains weak as this weeks unexpected eight billion dlr M-1 decline suggests it may this could influence th... | FED DATA SUGGEST NO CHANGE IN MONETARY POLICY |
Shr profit six cents vs loss 10 Net profit 8.1 mln dlrs vs loss 7.1 mln Sales 511.9 mln vs 397.8 mln Avg shrs 97.0 mln vs 90.5 mln YEAR Shr loss 38 cents vs loss 1.10 dlrs Net loss 24.6 mln dlrs vs loss 91.5 mln Sales 1.87 billion vs 1.48 billion Avg shrs 91.7 mln vs 89.8 mln NOTE - Current year figure includes previou... | NATIONAL SEMICONDUCTOR CORP <NSM> FOURTH QUARTER |
National SemiConductor Corp which earlier reported a profitable fiscal fourth quarter after a year ago loss said it expects improved financial performance during its new fiscal year. The company reported a profit of 8.1 mln dlrs in the quarter ended May 31 after a loss of 7.1 mln dlrs in the year ago period. The compan... | NATIONAL SEMICONDUCTOR <NSM> SEES IMPROVED YEAR |
The Federal Home Loan Bank Board (FHLBB) today placed <Investors Federal Bank> of El Reno Oklahoma under receivership and transferred its 97.8 mln dlrs in assets to the <Investors Savings and Loan Association>. An FHLBB statement said the thrift was insolvent and had substantially dissipated its assets mainly by ... | OKLAHOMA THRIFT PLACED UNDER RECEIVERSHIP |
Mitsubishi Electric Corp <MIET.T> plans to assemble personal computers in the U.S. To counteract the imposition of a 100 pct import tax in April and a drop in profits due to the yens appreciation against the dollar a company spokesman told Reuters. It will assemble 16-bit MP-286 and 32-bit MP-386 desk-top computers ... | MITSUBISHI ELECTRIC TO ASSEMBLE PC'S IN U.S. |
U.S. Secretary of State George Shultz warned members of the Association of Southeast Asian Nations (ASEAN) they could no longer rely on increased exports to the U.S. For growth. Given the importance of exports particularly export manufactures to all of your countries you are going to have to work hard to diversify your... | SHULTZ WARNS ASEAN OF LOOMING TRADE PROBLEM |
The conservative opposition already fighting an uphill election battle now faces controversy in its own ranks over a possible error in its major tax cutting program economists said. Professor Michael Porter architect of the tax plan declined to refute Treasurer Paul Keatings charge that the opposition miscalculated tax... | AUSTRALIA'S OPPOSITION FACES SETBACK ON TAX PLAN |
Fujitsu Ltd <ITSU.T> said it signed a joint venture agreement with the Post and Telecommunication Administration Bureau of Fujian Province (PTABF) China to develop and sell software for the Fujitsu-designed digital telephone switching machine FETEX-150. It said in a statement the joint company <Fujian Fujitsu Com... | FUJITSU, FUJIAN PROVINCE FORM JOINT VENTURE |
<Mitsui Investment Management Co Ltd> (MIMCL) and <Alliance Capital Management International Inc> (ACMII) will sign an agreement late this month to cooperate in international fund management a ACMII spokesman said. MIMCL 55-pct controlled by affiliated companies of Mitsui Bank Ltd <MIBT.T> will reconsign some ... | MITSUI, ALLIANCE IN FUND MANAGEMENT TIE-UP |
Indonesia has increased its share in a 434-billion-yen aluminium smelter joint venture with Japan from 25 to 37 pct Asahan Project Authority director A.R. Suhud said. The Japanese Export-Import Bank said Indonesia had raised its share of (P.T. Indonesia Asahan Aluminium) company capitalised in 1975 at 91 billion by swa... | INDONESIA RAISES STAKE IN ALUMINIUM PLANT |
Investors on Philippine stock markets have shrugged off growing communist activity in the cities to push share prices to all-time highs on record turnover brokers said. Regularly heavy trading of more than one billion shares a day has sent the Manila exchanges composite index soaring to 775.9 from 577.2 points in just ... | PHILIPPINE STOCKS SOAR TO NEW HIGHS, RECORD VOLUME |
Canadas sweeping tax reform package announced today is an important step towards a fairer system but is not as bold a revamp of the tax structure as some had expected economists and business leaders said. Its the biggest step towards tax reform weve taken in a great many years Merrill Lynch Canada Inc chief economist M... | CANADIAN TAX REFORM CALLED AN IMPORTANT STEP |
Recent government moves to curb capital inflow have temporarily helped to slow the rise of Taiwans foreign exchange reserves and to stabilise the local dollar against the U.S. Currency officials and bankers said. Central bank governor Chang Chi-Cheng told reporters the reserves rose only about 500 mln U.S. Dlrs in the ... | TAIWAN DOLLAR AND RESERVES SEEN RISING MORE SLOWLY |
Japans cabinet approved a plan to help financially-troubled aluminium ventures in Indonesia and Brazil an official at the Ministry of International and Trade Industry (MITI) said. Japan will invest 24 billion yen in <PT Indonesia Asahan Aluminium> in addition to the 68.3 billion yen already invested in the company. ... | JAPAN APPROVES AID FOR INDONESIA, BRAZIL ALUMINIUM |
Mitsui and Co Ltd <MITS.T> paid 1.5 mln dlrs in early May for a five pct stake in <Zoran Corp> a California-based maker of large scale integrated circuits (LSI) with computer graphic communications and medical applications a Mitsui spokesman told Reuters. He said the two firms will form a marketing company in Jap... | MITSUI BUYS FIVE PCT STAKE IN U.S. CHIP MAKER |
Faulty repairs and inadequate inspection caused the 1985 crash of a Japan Airlines Co Ltd <JAPN.T> (JAL) Boeing 747 which killed 520 people the Japanese government said in a final official report. The clear cause of the crash was faulty repair work by the Boeing Co <BA> said Shun Takeda the ministry of transport ... | JAPAN REPORT SAYS FAULTY REPAIRS CAUSED JAL CRASH |
Japans custom-cleared trade surplus narrowed to 1.61 billion dlrs in the first 10 days of June from 1.97 billion a year earlier the Finance Ministry said. The June interim surplus compares with a 1.76 billion dlr surplus in the same May period. FOB exports in the first 10 days of June rose 17.6 pct from a year earlier ... | JAPAN'S JUNE INTERIM TRADE SURPLUS NARROWS |
Year ended March 31 Group shr 18.83 yen vs 18.73 Net 20.07 billion vs 18.47 billion Pretax 22.14 billion vs 25.36 billion Operating 37.57 billion vs 51.57 billion Sales 14762 billion vs 15900 billion REUTER | C. ITOH AND CO LTD <CITT.T> |
Japans private sector machinery orders excluding shipbuilding fell 10.4 pct in April from March to a seasonally adjusted 663.8 billion yen after rising 17.6 pct in March the governments Economic Planning Agency said. April orders rose 2.0 pct from a year earlier after a 22.6 pct year-on-year rise in March an agency spo... | JAPAN MACHINERY ORDERS FALL IN APRIL |
Senior U.S. Officials are looking to Japan for help in buttressing the world economy in the event of an American recession next year Japanese government sources said. During a visit to the U.S. Earlier this month Economic Planning Minister Tetsuo Kondo was asked by both U.S. Federal Reserve chairman Paul Volcker and Co... | U.S. SEEKS JAPAN HELP IN EVENT OF 1988 RECESSION |
Sainsbury's says it taking control of Shaw's Supermarkets for 30 dlrs a share | |
Japan will lend 27.17 billion yen to Indonesia and will share equally with the World Bank a 7.25 billion yen loan to Bolivia as part of its efforts to help Third World countries a Foreign Ministry spokesman said. The lending is in line with Japans plan to contribute 20 billion dlrs over the next three years to developi... | JAPAN TO MAKE LOANS TO INDONESIA AND BOLIVIA |
J Sainsbury Plc<SNB.L> said it agreed to take control of the U.S. Shaws Supermarkets Inc through a combination of share purchases and a tender offer at 30 dlrs a share. Sainsbury bought about 21 pct of the stock in 1983. It said its U.S. Subsidiary Chene Investments Inc bought 2.55 mln common shares from the control... | SAINSBURY'S TAKING CONTROL OF SHAW'S SUPERMARKETS |
C. Itoh and Co Ltd <CITT.T> said its group net profit in the year ending March 31 1988 is expected to be unchanged from a year earlier. The prediction assumes a yen/dollar rate of 140 yen and a crude oil price of 18 dlrs a barrel a company spokesman told Reuters. Sales in 1987/88 are estimated at 15100 billion yen u... | C. ITOH SEES NO GROWTH IN 1987/88 GROUP PROFIT |
Union Bank of Switzerland (Securities) Ltd said it is lead managing the sale of 25000 new bearer shares of Sandoz Ltd. The shares closed in Zurich yesterday at 12100 Swiss francs each. Final terms will be set on or before June 25. The selling concession is two pct while management and underwriting each pays 3/4 pct. RE... | UBS TO SELL 25,000 SANDOZ SHARES |
Parent shr loss 15.85 yen vs profit 2.02 Interim div nil vs nil Net loss 12.92 billion vs profit 1.65 billion Current loss 12.52 billion vs profit 4.44 billion Operating loss 8.76 billion vs profit 6.52 billion Sales 443.90 billion vs 528.03 billion Outstanding shrs 815.10 mln vs 814.97 mln REUTER | ISUZU MOTORS LTD <ISUM.T> SIX MONTHS TO APRIL 30 |
Isuzu Motors Ltd <ISUM.T> has no plans to import cars made by General Motors Corp <GM.N> to Japan an Isuzu spokesman told Reuters. The Japanese daily Yomiuri Shimbun reported that Isuzu had decided to import cars directly from GM. Each month Isuzus domestic distributors sell five to 10 cars from GMs Buick Chevrol... | ISUZU DENIES PLANS TO IMPORT GM CARS TO JAPAN |
The navy is unloading foodgrains at Chittagong port following a strike by nearly 1000 dockworkers Bangladesh Shipping Corp officials said. The navy was unloading 74000 tonnes of foodgrains from two ships today and four vessels laden with some 90000 tonnes of grains were waiting at the outer anchorage port officials sai... | BANGLADESH NAVY UNLOADS GRAINS DURING PORT STRIKE |
Fujitsu Ltd <ITSU.T> has developed a simulation processor which will operate faster than any computer and will speed development of the next generation of computers a spokesman told Reuters. The simulation processor will halve the time needed for fault testing the millions of basic logic circuits incorporated in the... | FUJITSU DEVELOPS FAST SIMULATION PROCESSOR |
The joint committee of Taiwans soybean importers awarded a contract to Cargill Inc of Minneapolis Minnesota for supply of one 32000 tonne cargo of U.S. Soybeans a committee spokesman told Reuters. The cargo priced at 249.10 U.S. Dlrs per tonne c and f Taiwan is set for delivery before July 7 he said. The committee canc... | TAIWAN BUYS 32,000 TONNES OF U.S. SOYBEANS |
The chairman of the Life Insurers Association told a press conference that life insurance companies will increasingly diversify their investments away from U.S. Bonds to protect themselves against currency swings an association spokesman said. Terumichi Tsuchida said Japanese investment in U.S. Bonds is decreasing but ... | JAPAN LIFE INSURERS WARY OF U.S. BOND INVESTMENT |
The government should cut its consumer rice price if the official producer price is reduced next month Tetsuo Kondo director general of the governments Economic Planning Agency (EPA) told reporters. Kondo said after a cabinet meeting that consumers should receive the benefits of the falling costs of rice farming due to... | AGENCY HEAD SAYS JAPAN SHOULD CUT RICE PRICE |
Boeing Co <BA> said in a statement it has yet to see the official Japanese government report on the crash of a Japan Air Lines (JAL) Boeing 747 in which 520 died. However it said it had agreed with an earlier draft report that the accident was caused by incorrect repairs which remained undetected during scheduled in... | BOEING HAS NOT YET SEEN FINAL JAL CRASH REPORT |
Japan could avoid a sharp rise in the value of the yen against the dollar if Japan the U.S. And other nations succeeded in restructuring their economies an advisory panel to the governments Economic Planning Agency (EPA) said. The advisory body said in its report that the yen would soar against the dollar if structural... | JAPAN PANEL URGES WORLD ECONOMIC ADJUSTMENTS |
Japan must try harder to reduce its trade surplus or the yen will come under renewed upward pressure Economic Planning Minister Tetsuo Kondo. He told a press luncheon he hoped Japan could cut its current account surplus by some 10 billion dlrs a year until it is reduced to some 50 to 60 billion dlrs. In the fiscal year... | JAPAN MUST TRY HARDER TO CUT SURPLUS - MINISTER |
The loopholes in Swiss banking supervision must be closed in a step-by-step manner Swiss National Bank Vice-President Markus Lusser said. The integration of financial markets had blurred the distinction between banks and bank-like finance companies and the varying degree of regulation of the two sectors had a destabliz... | SWISS URGE CLOSING LOOPHOLES IN BANK REGULATION |
The Tokyo stock market will probably not make significant gains next week and may suffer a temporary correction brokers said. Dashed hopes of a further cut in Japans 2.5 pct discount rate cut and a growing conviction the dollar will remain firm against the yen in the near-term has created a measure of uncertainty over ... | TOKYO STOCKS SEEN HEADING FOR POSSIBLE CORRECTION |
Thailands major tin exporter and producer <Thailand Smelting and Refining Co> (Thaisarco) said it may be unable to meet all its overseas orders because of insufficient supplies of tin concentrates from Thai mines. Local mines cut combined daily tin concentrate sales to Thaisarco a Royal Dutch/Shell Group <RD.AS> ... | THAI SMELTER FACES TIN CONCENTRATE SUPPLY SHORTAGE |
Olympus Optical Co Ltd <OOPT.T> predicted parent company current profit of 5.50 billion yen in the year ending October 31 1987 up 12 pct from a year earlier assuming a yen/dollar rate of 147 yen in the second half a company spokesman told Reuters. Sales in 1986/87 are estimated at 122 billion yen up 0.9 pct from a y... | OLYMPUS SEES 12 PCT RISE IN 1986/87 CURRENT PROFIT |
Isuzu Motors Ltd <ISUM.T> forecast a parent company net loss of 15 billion yen in the year ending October 31 1987 against a 3.98 billion loss a year earlier assuming a yen/dollar rate of 140 yen a spokesman said. Sales in 1986/87 are estimated at 910 billion yen down 10.2 pct from a year earlier. The automaker earli... | ISUZU SEES BIGGER LOSS IN 1986/87 |
French electronics group La Telemecanique Electric <TLMF.PA> expects 1987 consolidated profits to remain steady on 1986 levels allowing the company to pay a higher dividend this year chairman Jacques Valla told the companys general meeting. Valla said the outlook for 1987 was good and orders for the group would incr... | TELEMECANIQUE SEES STABLE PROFITS AND DIVIDEND UP |
Ceylon Petroleum Corp (CPC) has decided to renew its one-year contract with Abu Dhabi for 480000 tonnes of Upper Zakum crude oil CPC officials told Reuters. They said CPC made the recommendation to the cabinet and is now awaiting its approval. CPCs one-year contract with Abu Dhabi expired on May 31 this year and it wan... | SRI LANKA PLANS TO RENEW ABU DHABI OIL CONTRACT |
Spains private bank staff started a one and a half day strike over wage demands but its impact was not yet clear. Spokesmen for several of the main banks said strikers at their Madrid headquarters appeared to be a small minority. They had yet to receive reports from branches. Unions called out the 160000 employees to p... | SPAIN'S PRIVATE BANK STAFF STRIKE, IMPACT UNCLEAR |
The Norwegian company <Konsgberg Vaapenfabrikk> (KV) may have sold more high technology defence equipment since an original deal in 1982 senior justice officials said. State prosecutor Tor-Aksel Busch told Reuters he had started fresh investigations into the state-owned arms firm which delivered computers to the Sov... | NORWEGIANS MAY HAVE SOLD MORE COMPUTERS TO USSR |
Japanese commercial creditor banks confirmed an earlier commitment to extend some 360 mln dlrs in new loans to Argentina banking sources said. The commitment will represent a part of the 1.95 billion dlrs in new loans to Argentina agreed to by 350 banks worldwide last April 24 the sources said. The 350 banks were suppo... | JAPANESE BANKS CONFIRM ARGENTINA LOAN COMMITMENT |
Liner shipping specialist <Evergreen Marine Corp> Taiwans largest private company has applied to the Security and Exchange Commission to go public next month a company spokeswoman told Reuters. She said Evergreen had doubled its capital to eight billion Taiwan dlrs since last August. The capital increase will boost ... | TAIWAN'S EVERGREEN LINE TO GO PUBLIC |
Ciba-Geigy AG <CIGZ.Z> said it acquired a minority stake in British cereal breeding company <New Farm Crops Ltd>. It said in a statement the British companys skills in applied plant breeding would assist Ciba-Geigy in applying the results of its biotechnology research and enable it to extend its activities in see... | CIBA-GEIGY BUYS MINORITY STAKE IN UK CROP FIRM |
South Africa recorded annualised real growth in GDP of 3.25 pct in the first quarter of this year and the economy should achieve the governments target of three pct growth for 1987 the Reserve Bank said. The South African central bank said in its quarterly bulletin that confidence in the economy improved from January t... | S. AFRICAN RESERVE BANK SAYS GROWTH RATE ON TARGET |
The World Bank is issuing a 100 mln Australian dlr bond due July 20 1992 paying 13-3/8 pct and priced at 101-7/8 pct lead manager Hambros Bank Ltd said. The non-callable bond is available in denominations of 1000 and 10000 Australian dlrs and will be listed in Luxembourg. The selling concession is 1-1/4 pct while manag... | WORLD BANK ISSUES 100 MLN AUSTRALIAN DLR BOND |
Dutch seasonally adjusted industrial production fell by 6.4 pct in April compared with the previous month and was 5.5 pct down on the same period last year figures from the official Statistics Bureau CBS show. The April index base 1980 stood at 103. In March industrial production rose by 2.8 pct from February. The unad... | DUTCH INDUSTRIAL PRODUCTION FALLS 6.4 PCT IN APRIL |
Net receipts of U.K. Building societies in May fell to 521 mln stg from 727 mln in April and compared with 500 mln in May 1986 figures from the Building Societies Association show. Association director-general Mark Boleat said in a statement he was satisfied with the May figure in view of the calls for investors funds ... | U.K. BUILDING SOCIETY RECEIPTS FALL IN MAY |
CANADA MAY CONSUMER PRICE INDEX RISES 0.6 PCT, STATISTICS CANADA SAID | |
Compagnie Industriali Riunite (CIR) has asked Citicorp Investment Bank Ltd to arrange a 200 mln dlr syndicated loan facility which will have a final maturity of seven years Citicorp said. Continental Illinois Ltd and Dai-Ichi Kangyo Bank Ltd will be coordinators for the facility which will be in the name of CIR Interna... | ITALY'S CIR SEEKS 200 MLN DLR LOAN FACILITY |
Canadas consumer price index rose 0.6 pct in May to 137.8 base 1981 following a 0.4 pct rise in April and a 0.5 pct rise in May 1986 Statistics Canada said. The May year-on-year rise was 4.6 pct compared with a 4.5 pct rise in April. Reuter | CANADA CONSUMER PRICE INDEX UP 0.6 PCT IN MAY |
West German producer prices rose 0.1 pct in May compared with April to stand 2.9 pct lower than in May last year the Federal Statistics Office said. In April producer prices fell 0.3 pct from March and dropped 3.6 pct from their levels a year earlier. The Statistics Office said producer prices for liquefied gas fell 10... | GERMAN PRODUCER PRICES RISE 0.1 PCT IN MAY |
Japanese oil companies are starting campaigns to market 100 octane gasoline to meet growing domestic demand for higher quality motor fuel oil sources said. Ten companies plan to offer the unleaded gasoline this summer starting with <Idemitsu Kosan Co Ltd> on June 20. Showa Shell Sekiyu KK <SHOL.T> introduced its ... | JAPAN FIRMS TO LAUNCH SALES OF 100 OCTANE GASOLINE |
Standard and Poors Corp said it yesterday affirmed the AAA senior debt and A-1-plus commercial paper of National Westminster Bank Plc <NWBL.L>. The AA long-term and A-1-plus short-term certificates of deposit of National Westminster Bank USA were also affirmed. S and P cited the banks decision to increase group prov... | S/P AFFIRMS NATIONAL WESTMINSTER DEBT |
Standard and Poors Corp said it affirmed the AAA senior debt and A-1-plus commercial paper of National Westminster Bank Plc <NWBL.L>. The AA long-term and A-1-plus short-term certificates of deposit of National Westminster Bank USA were also affirmed. S and P cited the banks decision to increase group provisions for... | S/P AFFIRMS NATIONAL WESTMINSTER DEBT |
The proposed 500 mln Hong Kong dlr transferable loan facility for <South China Morning Post Co Ltd> a unit of News Corp Ltd <NCPA.S> will be raised to 888 mln dlrs lead manager Manufacturers Hanover Asia Ltd said. The loan was more than three times oversubscribed in syndication with 1.2 billion dlrs raised. Manuf... | NEWS CORP UNIT LOAN TO RISE TO 888 MLN H.K. DLRS |
The British Printing and Communication Corp Plc<BPL.L> is considering selling its specialist packaging and labelling operations a spokeswoman said. She gave no dates or prices for the transaction but said the units would be sold by negotiation. She declined to give any turnover or profit figures for the packaging an... | BPCC PLANNING SALE OF PACKAGING OPERATIONS |
The Indian State Trading Corp (STC) are reported to have taken three parcels around 5000 tonnes each of palm olein at yesterdays weekly vegetable oil tender traders said. All are for August shipment at 364 dlrs a tonne cif. India passed on all other materials they added. REUTER | INDIA BUYS PALM OLEIN AT TENDER - TRADERS |
Philippines Board of Investments (BOI) has approved new guidelines on making cars but is still awaiting rules on the tax component of the programme trade and industry secretary Jose Concepcion said. He said the authorities were still deciding how much tax will be levied on locally-assembled cars. The new car developmen... | PHILIPPINES APPROVES NEW CAR PROGRAMME |
The proposed 250 mln U.S. Dlr syndicated loan for <National Aluminium Co Ltd> Nalco of India has been increased to 300 mln dlrs due to over-subscription lead manager Chemical Asia Ltd said. The 10 year loan with a six year grace period is in two tranches. Tranche A of 279 mln dlrs carries interest at 1/4 percentage ... | INDIA'S NALCO LOAN INCREASED TO 300 MLN DLRS |
A meeting of European Community (EC) farm ministers is unlikely to be held next week following the ministers failure to agree a 1987/88 farm price package yesterday an EC Commission spokesman said. However he said he could not rule out such a meeting altogether noting the decision is one for Belgium which currently hol... | EC FARM MINISTERS MEETING UNLIKELY NEXT WEEK |
A 24-hour strike by Belgian public employees protesting against a government pay offer disrupted transport and hit ferry services and shipping port and union officials said. Some cross-Channel ferry services from Ostend were cancelled the local news agency Belga said. An Antwerp port authority spokesman said electricia... | BELGIAN ONE-DAY STRIKE HITS TRANSPORT, SHIPPING |
De Laurentiis Film Partners LP said it will pay an initial quarterly dividend of 37.3 cts per unit to holders of record on June 30 payable within 90 days of that date. The partnership said De Laurentiis Entertainment Group Inc <DEG> which owns one third of its shares will defer its share of the payout to maximize fu... | DE LAURENTIIS FILM <DFP> IN FIRST PAYOUT |
Qtly div 24 cts vs 23 cts prior Pay July 28 Record June 30 Reuter | CAPITOL BANCORP <CAPB.O> RAISES QUARTERLY |
Augat Inc said it retained an investment banker Wertheim Schroeder and Co Inc to explore possible means for the company to maximize shareholder value. The company said it was not pressured into taking this action by any specific situation or opportunity. Reuter | AUGAT<AUG> SEEKS TO MAXIMIZE SHAREHOLDER VALUE |
De Laurentiis Film Partners LP <DFP> and De Laurentiis Entertainment Group Inc <DEG> said they will take charges of five mln and 6500000 dlrs repsectively on their film Million Dollar Mystery due to disappointing box office results. Reuter | DE LAURENTIIS COMPANIES SEE LOSS ON FILM |
China has resumed repairs of Soviet ships after a 23 year break caused by the ideological split between the two countries. The New China News Agency said an agreement to resume the business was signed by the two sides on Wednesday in Shanghai where three Soviet commercial vessels were being repaired. The China Daily sa... | CHINA RESUMES USSR SHIP REPAIRS AFTER 23 YEAR GAP |
Volkswagen AG <VOWG.F> said negotiations with Toyota Motor Corp <TOYO.T> over a joint production accord have reached an advanced stage. An announcement on an agreement to assemble Toyota Hi Lux light trucks at VWs Hanover plant is expected next week industry sources close to VW said. The Financial Times newspaper... | VW,TOYOTA LIGHT TRUCK DEAL CLOSE TO CONCLUSION |
King World Productions Inc said it has started a tender offer for up to 4100000 of its own common shares at 28 dlrs each. In a newspaper advertisement the company said the offer proration period and withdrawal rights expire July 17 unless extended. The offer is not conditioned on receipt of any minimum number of shares... | KING WORLD <KWP> STARTS BID FOR OWN SHARES |
Cablevision Systems Corp said its agreement to buy from CBS Inc <CBS> and the Washington Post Co their partnership interests in four regional sports services will have a value of about 56.2 mln dlrs. It said the sports services managed by Rainbow Program Enterprises is expected to close by the end of the year. The s... | CABLEVISION <CVC> DEAL VALUED AT 56.2 MLN DLRS |
U.S. Exports of edible groundnuts could fall to 185000 tonnes in the year to September 1987 from 248000 in the same 1986 period trading company Tracomin SA said. It revised its December 1986 forecast that exports would total 205000 tonnes citing low demand the loss of U.S. Market share in the two main importing countri... | TRACOMIN SEES LOWER U.S. EDIBLE GROUNDNUT EXPORTS |
U.S. Budget Director James Miller said President Reagan would veto the Democrat-controlled Congress new budget plan out of hand -- but offered to compromise on raising revenues. If that budget comes down it will vetoed out of hand I can tell you that Miller said on a morning television show. He said Reagan would not ac... | U.S. BUDGET CHIEF THREATENS VETO, PREDICTS DEAL |
Divi Hotels N.V. said its board recommended that shareholders approve payment of an initial dividend of 12-1/2 cts a share semi-annually. It said the dividend would be paid in August and February. Reuter | DIVI HOTELS <DVH> RECOMMENDS DIVIDEND |
Major Video Corp said it filed a registration statement covering a proposed public offering of 1.4 mln shares of common stock to be sold by the company. It said Rauscher Pierce Refsnes Inc will be managing underwriter of the offering expected in July with proceeds to be used to finance development and possible acquisit... | MAJOR VIDEO <MAJV.O> FILES 1.4 MLN SHR OFFER |
French domestic appliance maker Moulinex <MOUP.PA> shares continued to fall on the Paris Bourse reaching its years low amid controversy over an auditors report on 1987 profit forecasts dealers said. A Moulinex spokesman said a mutilated copy of the report by Paris auditors Syndex which gave a poor impression of the ... | MOULINEX SHARES FALL TO 1987 LOW ON PARIS BOURSE |
Swissair <SWSZ.Z> said its revenues were down four pct in April compared with a year earlier but costs before depreciation were cut by six pct. Traffic rose seven pct in April compared with a year earlier and the overall load factor increased one percentage point to 61 pct. Passenger load factor rose to 60 pct from ... | SWISSAIR REVENUES FALL FOUR PCT IN APRIL |
Chancellor of the Exchequer Nigel Lawson said current low unit wage costs are helping British exports but wage rises are faster than is comfortable. He hoped yesterdays Organisation for Economic Cooperation and Development (OECD) forecasts of increases in wage rises were wrong saying OECD predictions are somewhat unrel... | LAWSON SAYS LOW U.K. UNIT WAGE COSTS HELP EXPORTS |
quantum corp said it will take a charge of about 3500000 dlrs due to a decision to discontinue its Q160 160 megabyte disk drive causing a loss for the first quarter ending June 28. The company said it expects higher revenues for the period however. Quantum earned 22.2 mln dlrs on revenues of 121.2 mln dlrs in last year... | QUANTUM CORP <QNTM.O> TO TAKE 3.5 MLN DLR CHARGE |
Merrill Lynch and Co Inc said its initial public offering of six mln limited partnership preference units of Fine Homes International L.P. was priced at 18 dlrs a unit. In addition there was also an offering by Fine Homes of 1.5 mln preference units to its employees. Merrill Lynch said it will continue to own about 21 ... | FINE HOMES INT'L INITIAL OFFERING PRICED |
Proven oil and gas deposits in Saudi Arabia increased in 1986 despite higher oil output according to the kingdoms main producing company Aramco. Recoverable oil reserves in Aramco fields rose to 167 billion barrels by the end the year from 166.5 billion in 1985 while gas reserves jumped by 7.7 pct to 135.8 trillion cu ... | SAUDI OIL RESERVES RISE DESPITE HIGHER OUTPUT |
Bear Stearns Cos Inc <BSC> said an offering of three mln currency exchange warrants of Ford Motor Cos Ford Motor Credit unit is underway at 4.375 dlrs each. Each warrant allows the holder to receive from Ford Credit the cash value in U.S. dollars of the right to purchase 50 dlrs at a price of 7610 yen. Bear Stearns ... | FORD <F> UNIT OFFERS CURRENCY EXCHANGE WARRANTS |
Tri-Star Pictures Inc said it won permanent relief from various provisions of the 1952 Consent Judgment and 1980 Order that apply to the Loews Theatre Circuit which Tri-Star acquired last December. It said the U.S. District Court for the Southern District of New York agreed to permit exhibition of Tri-Star motion pictu... | TRI-STAR PICTURES <TRSP.O> GRANTED RELIEF |
Fidelcor Inc said it has acquired a substantial portion of the assets of Bank of New England Corps Lazere Financial Corp subsidiary for undisclosed terms. The company said the transaction includes most of Lazeres loan portfolio and other assets including Lazeres Miami office. Reuter | FIDELCOR <FICR.O> BUYS NEW ENGLAND <BKNE.O>STAKE |
The South Korean government will shortly issue a statement warning it will take unspecified emergency measures if widespread protest demonstrations continue state radio said. Yesterday tens of thousands of demonstrators took to the streets of Seoul and other cities battling riot police and demanding the resignation of ... | SEOUL THREATENS EMERGENCY MEASURES |
Budget Director James Miller said President Reagan would veto the Democrat-controlled Congress new budget -- but offered to compromise on raising revenues. If that budget comes down it will be vetoed out of hand I can tell you that Miller said on NBCs Today program. He said Reagan would not accept the 19 billion dlr ta... | U.S. BUDGET DIRECTOR PREDICTS COMPROMISE |
A Circuit Court judge ordered the company that insured the solvency of International Medical Centres Inc to show cause why it should not honour its contract with International according to Floridas Department of Insurance which had filed a petition on the matter. As previously reported International the largest health ... | COURT ORDERS INT'L MEDICAL INSURER TO SHOW CAUSE |
Financial Benefit Group Inc said it has agreed to sell one mln shares of Class A common stock to investment banker Fox-Pitt Kelton NV for placement with institutional and private investors in Britain Europe and elsewhere. It said the offering is expected to be fully subscribed and proceeds will be used mainly to increa... | FINANCIAL BENEFIT <FBGIA.O> TO SELL SHARES |
CHRYSLER AGREES TO ACQUIRE ELECTROSPACE SYSTEMS FOR 367 MLN DLRS | |
DAF Finance Company NV said it plans a 100 mln guilder commercial paper program beginning June 22. Amro bank is arranging the program with denominations of one mln guilders and maturities ranging from two weeks to two years. Clearing is through the Dutch central bank. DAF Finance is one of the four subsidiaries of DAF ... | DAF PLANS 100 MLN GUILDER COMMERCIAL PAPER PROGRAM |
Philippine Long Distance Telephone Co said it has called a special shareholder meeting to approve a proposed two-for-one stock split and a 20 pct stock dividend. The company said the meeting will be held July 15 and shareholders of record on April 27 will be eligible to vote. The company said it will also ask sharehold... | PHILIPPINE LONG DISTANCE <PHI> PLANS SPLIT |
Top discount rate at U.K. Bill tender rises to 8.7239 pct | |
Cargo handling companies said they were hiring twice the usual number of dockers to offset an intermittent strike in Spanish ports. Spanish dockers began a nine-day strike on Wednesday in which they only work alternate hours in protest at government plans to partially privatize port services. Reuter | SPAIN CARGO FIRMS HIRE DOCKERS TO OFFSET STRIKE |
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