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RTE Corp said it completed the purchase of the U.S. aluminum electrolytic capacitor business and related assets of Emhart Corp for undisclosed terms. Reuter | RTE <RTE> BUYS SOME EMHART <EMH> ASSETS |
The World Bank said it approved a 100 mln dlr loan to help Brazil finance the rehabilitation of the railway in Sao Paulo State and establish a institutional reform program as a base for future commercial operation. The 285 mln dlr project is designed to financially rehabilitate the railway -- the primarily state-owned ... | WORLD BANK APPROVES 100 MLN DLR LOAN FOR BRAZIL |
stock market deregulation -- will be heard Tuesday when the Canadian securities industry sets off its own fireworks. Some companies are quickly taking advantage of deregulation but more significant moves are likely to be a year or more down the road analysts say. They say most foreign firms will focus at first on bond ... | CANADA SETS OFF ITS OWN BIG BANG |
Rochester Telephone Corp said it completed the acquisition of Canton Telephone Co and is now operating the company. Terms of the acquisition were not disclosed. Canton Telephone serves about 2900 access lines in northwestern Pennsylvania and had 1986 operating revenues of about 1300000 dlrs Rochester Telephone said. Re... | ROCHESTER <RTC> ACQUIRES <CANTON TELEPHONE CO> |
Prime Computer Inc said it received an order from the Philadelphia board of education for more than 8.0 mln dlrs of advanced computer equipment and software for automating its administrative and student accounting systems. The systems designed and manufactured by Prime were introduced in April. Reuter | PRIME COMPUTER <PRM> WINS CONTRACT |
Corporate mergers and acquisitions in and around San Francisco over the past seven years have had only a modest effect on the metropolitan areas economy a leading business-backed organization said. The Bay Area Council a group of more than 300 business firms said that a study of corporate restructuring in a nine-county... | SAN FRANCISCO, NOT REGION, HURT BY RESTRUCTURING |
Standard and Poors Corp said it downgraded American Healthcare Management Incs subordinated notes to D from B affecting 80 mln dlrs of securities. S and P said that this for-profit operator of 34 actue-care hospitals missed its semi-annual interest payment on the debt. The rating agency said the failure to renegotiate ... | S/P DOWNGRADES AMERICAN HEALTHCARE <AHI> NOTES |
Pittston Co said WTC International N.V. shareholders approved the acquisition of the company by Pittston. Terms of the transaction call for Pittston to exchange 0.523 of its own common shares for each outstanding WTC share Pittston said. WTC is engaged in domestic international air freight ocean and surface freight for... | WTC SHAREHOLDERS APPROVE PITTSTON <PCO> BUYOUT |
Home Federal Bank of Florida F.S.B. <HFBF.O> said it has scheduled a special shareholders meetng for July 26 to approve proposed changes to the banks charter and merge with Barnett Bank Incs Barnett Bank of Pinellas County N.A. Home Federal said the meeting is to approve a definitive agreement signed May 26 calling ... | HOME FEDERAL <HFBF.O> SETS SHAREHOLDER MEETING |
A North Sea oil find announced by Chevron Corps <CHV> Chevron Exploration North Sea Ltd may indicate a new field with recoverable crude oil reserves of 300 mln barrels industry analysts said. Chevron said a sidetrack well on block 16/26 on the U.K. Continental shelf tested 9000 barrels per day (bpd) of 20 API crude ... | CHEVRON N.SEA FIND MAY HOLD 300 MLN BBLS -ANALYSTS |
Arden Group Inc said it filed a registration statement with the Securities and Exchange Commission covering two issuer tender offers. It said one offer its directed to its class A common stock holders and another to holders of its 8-1/4 pct debentures due March 1 1989. The planned offer for common stock holders calls f... | ARDEN GROUP <ARDNA.O> PLANS ISSUER TENDER |
The World Bank said it approved a 100 mln dlr loan to help Brazil finance the rehabilitation of the railway in Sao Paulo state and establish an institutional reform program as a base for future commercial operation. The 285 mln dlr project is designed to financially rehabilitate the railway -- the primarily state-owned... | WORLD BANK APPROVES LOAN FOR BRAZIL RAILWAY |
The Pakistani government allowed the private sector to export cotton and rice in a new trade policy announced to cover the next three years. Commerce and Planning Minister Mahbubul Haq said in a televised speech it was also decided to allow duty-free import of cotton yarn. Cotton and rice are Pakistans main exports whi... | PAKISTAN ALLOWS PRIVATE COTTON, RICE EXPORTS |
The Palo Verde Unit 1 nuclear power plant was removed from service Sunday due to a leaking pipe in its circulating water system according to the plants operator the Arizona Nuclear Power Project. It said the pipe on the non-nuclear steam-generating side of the plant delivers water to the plants condenser. This water is... | ARIZONA NUCLEAR PLANT SHUTDOWN DUE TO WATER LEAK |
Lomas and Nettleton Financial Corp said its shareholders approved at a special meeting the companys acquisition of Equitable Life Leasing Corp for 263.3 mln dlrs. Equitable Life Leasing Corp is a subsidiary of Equitable Investment Corp which is owned by the Equitable Life Assurance Co of U.S. Lomas said the acquistion ... | LOMAS <LNK> SHAREHOLDERS APPROVE ACQUISITION |
Biscayne Holdings Inc said its stockholders approved a one-for-three reverse stock split as a portion of the amendments approved to its certificate of incorporation. The company said holders reduced the number of authorized class A common shares to 50 mln from 100 mln and reclassified each outstanding three shares into... | BISCAYNE HOLDINGS <BISHA.O> REVERSE SPLIT OK'D |
<ALMI Group L.P.> said its co-chairmen Michael Landes and Albert Schwartz and its vice chairman Michael Spiegler have acquired a 50 pct equity interest in <Clearview Baking Corp> for undisclosed terms. A. Dale Mayo Clearviews president and chief executive officer will retain a 50 pct interest in the company ALMI ... | ALMI GROUP ACQUIRES INTEREST IN CLEARVIEW BAKING |
Symbolics Inc said it won a 500000 dlr contract from NASA Ames Research Center for the preliminary design of a spaceborne symbolic processor. The company said its symbolic processing technology is used to faciliate artificial intelligence applications and other advanced computing techniques. It said its processor will ... | SYMBOLICS INC <SMBX> WINS SPACE CONTRACT |
National City Corp projected income of eight mln dlrs for the second quarter ending June 30 due to a 55 mln dlr charge for loan loss provisions. This compares with earnings in the second quarter of last year of 36.3 mln dlrs. National City said it expects per share income in the second quarter to be 20 cts. The company... | NATIONAL CITY CORP <NCTY.O> SEES LOWER 2ND QTR |
Arcturus Inc said it introduced it MegaBeam product a three-tube high resolution data display projector. The company said the large screen projector is more than twice as bright as competing models. It said the projector would be used to show the image of a 14-inch computer terminal to large groupd on a six-foot wall s... | ARCTURUS INC <ARTU> LAUNCHES NEW MEGABEAM |
Shr 25 cts vs 25 cts prior qtr Pay August 10 Record July 10 Reuter | UNOCAL CORP <UCL> QTLY DIVIDEND |
Ecuador will produce crude oil in excess of its 221000-bpd OPEC quota during the second half of this year Energy Minister Fernando Santos Alvite told a news conference. Ecuador plans to produce 280000 bpd in August rising to 320000 bpd next January the minister said. We will be producing more than the quota to pay off ... | ECUADOR TO PRODUCE ABOVE OPEC QUOTA - MINISTER |
The World Bank said it has extended loans totalling 241 mln dlrs to Niger and Zaire to help support economic reforms through structural adjustment programs. The loans have been made through the International Development Association (IDA) the banks concessionary lending arm and the African Facility a three-year IDA-admi... | WORLD BANK EXTENDS 241 MLN DLRS IN AFRICAN LOANS |
Standard and Poors Corp said it affirmed about 100 mln dlrs of B-minus subordinated debt of Intelogic Trace Inc. S and P cited the end of an attempted takeover of Burlington Industries Inc by an Asher Edelman-led group in which Intelogic was used as a financing vehicle. About 78 pct of Burlingtons common shares were te... | INTELOGIC TRACE <IT> DEBT AFFIRMED BY S/P |
Moodys Investors Service said it downgraded 95 mln dlrs of outstanding Allis-Chalmers Corp issues. It lowered the sinking fund debentures to Ca from B-3 and the Series C preferred stock to Ca from Caa. Moodys cited as justification the companys filing for court protection under Chapter 11 of the Federal Bankruptcy Code... | ALLIS-CHALMERS <AH> DEBT, PAPER CUT BY MOODY'S |
U.S. firms are expected to enjoy the advantage of superior experience over their Japanese competitors in the new promising business of bringing asset rich Japanese investors to the U.S. financial futures markets. Japan allowed local financial institutions last month to start using overseas futures in currencies bonds a... | U.S. LEADS JAPAN IN FINANCIAL FUTURES BUSINESS |
Court documents filed with the U.S. bankruptcy court by attorneys for Allis-Chalmers Corp <AH> listed Equitable Life Assurance Co as one of the largest creditors. According to the court papers Equitable was owed a total of 468859 dlrs. Other creditors included Connecticut General Life Insurance Co owed 192520 dlrs a... | ALLIS-CHALMERS <AH> LISTS MAIN CREDITORS |
Shr 20 cts vs 12 cts Net 34088000 vs 18727000 Revs 340.4 mln vs 200.3 mln Nine mths Shr 53 cts vs 31 cts Net 88661000 vs 49059000 Revs 926.5 mln vs 560.1 mln Avg shrs 151.1 mln vs 137.0 mln Reuter | LAIDLAW TRANSPORTATION LTD (LDMF.O) THIRD QTR |
Gateway Communications Inc said it expects its second quarter earnings to be lower than last years income of seven cts per share but its revenue for the period should increase by 20 pct over the 2.7 mln dlrs reported a year ago. The decline in second quarter earnings is attributable to higher operating costs resulting ... | GATEWAY <GWAY.O> SEES LOWER 2ND QTR RESULTS |
The Environmental Protection Agency (EPA) announced plans to disapprove clean-air plans for 14 metropolitan areas and called for bans in those areas on new construction of potentially polluting facilties. EPA Administrator Lee Thomas said in a statement the areas had not shown they could meet agency ozone or carbon-mon... | EPA TO REJECT CLEAN-AIR PLANS FOR 14 AREAS |
MOODY'S UPGRADES ONE BILLION DLRS OF SCOTT PAPER DEBT TO A3 FROM BAA1 | |
Oper shr 38 cts vs 32 cts Qtly div 12 cts vs 12 cts Oper net 5430000 vs 4707000 Revs 169.1 mln vs 139.4 mln Year Oper shr 1.50 dlrs vs 1.32 dlrs Oper net 21.5 mln vs 19.1 mln Revs 602.5 mln vs 524.4 mln NOTE: 1986 operating net in both periods excludes loss 8.2 mln dlrs or 56 cts a share from discontinued operations Re... | MORRISON INC <MORR.O> 4TH QTR MAY 30 NET |
Geothermal Resources International Inc said it has completed two additional geothermal wells in its steam fields in The Geysers area of northern California. The field is being developed to supply steam to the 130-megawatt Coldwater Creek Geothermal Power Plant scheduled to go into commercial operation in late 1987 or e... | GEOTHERMAL RESOURCES <GEO> COMPLETES TWO WELLS |
Wal-Mart Stores Inc said it has completed the acquisition of <Super Saver Warehouse Inc> and Super Saver is now a wholly owned unit of Wal-Mart. Reuter | WAL-MART <WMT> COMPLETES ACQUISITION |
Piedmont Aviation Inc said it is accepting reservations for nonstop service to Nassau Bahamas from Charlotte N.C. beginning November 15. The new service will connect more than 30 cities on the Piedmont system to Nassau the company said. Reuter | PIEDMONT <PIE> ACCEPTS RESERVATIONS FOR BAHAMAS |
Micro General Corp said it has completed a 1.5-mln-dlr equity offering of 1.2 mln units each consisting of two shares of common stock and one common stock purchase warrant. The offering was underwritten by Paulson Investment Co Inc. Net proceeds of about 1.3 mln dlrs will be used to expand the companys parcel shipping ... | MICRO GENERAL CORP <MGEN.O> COMPLETES OFFER |
Owens-Corning Fiberglass Corp said it agreed with Taiwan Glass Industries Corp on the manufacture and distribution of its fiberglass reinforcements products under license. The company said the two firms will construct a new manufacturing plant for these products outside Taipei but it disclosed no terms of the deal. It ... | OWENS-CORNING <OCF> AGREES WITH TAIWAN GLASS |
Kraft Inc said it completed the acquisition of Frostex Foods Inc for undisclosed terms. Kraft said last month it had signed a letter of intent to acquire the Austin Texas-based foodservice distributor. Reuter | KRAFT <KRA> COMPLETES FROSTEX ACQUISITION |
<Phoenix Technologies Ltd> said it has signed a marketing agreement with Apollo Computer Inc. Phoenix said that the agreement allows Apollo to market Phoenixs software under the name Domain/PC Emulator. The company said that the software will be available on Apollos new Domain Series 4000 personal workstations and A... | APOLLO <APCI.O> LICENSES PHOENIX SOFTWARE |
Qtr ended April 30 Shr profit one ct vs loss three cts Net profit 146000 vs loss 203000 Revs 2001000 vs 1493000 Year Shr profit four cts vs loss 13 cts Net profit 445000 vs loss 827000 Revs 7135000 vs 5237000 NOTE: Full name is Precision Target Marketing Inc. Latest year and quarter includes extraordinary gains of 2140... | PRECISION TARGET MARKETING <PTMI.O> 4TH QTR NET |
Moodys Investors Service Inc said it upgraded Scott Paper Cos long-term debt rating to A-3 from Baa-1. The companys Prime-2 commercial paper rating remains unchanged. Approximately one billion dlrs of long-term debt is affected. Moodys said the upgrade reflects Scotts continuing improvement in operating results as well... | MOODY'S UPGRADES SCOTT PAPER <SPP> DEBT TO A-3 |
RTE Corp said it completed the purchase of Emhart Corps United States aluminum electrolytic capacitor business for an undisclosed sum. The company said the capacitor business is part of Emharts electrical and electronic group marketed under the Mallory brand name. The company said the product lines it acquired had sale... | RTE CORP <RTE> BUYS EMHART CORP UNIT |
Periods ended April 30 Shr 83 cts vs 94 cts net 5583000 vs 8403000 Revs 28.8 mln vs 29.4 mln Avg shrs 6754000 vs 6802000 Reuter | SEVEN OAKS INTERNATIONAL INC <QPON.O> YEAR NET |
United Medical Corp said it will sell its Trotter Treadmills Inc unit. The company said the sale is in line with its strategy of refocusing on its health care service business. It said it had received interest from several parties but no agreement has yet been reached. Trotter Treadmills makes motorized treadmills for ... | UNITED MEDICAL CORP <UM> SELLS UNIT |
A specially convened Franco-German meeting in the sidelines of a summit of EC leaders failed to make any progress over a 1987-88 farm price package that has deeply split the two former EC allies diplomats said The meeting was attended by farm ministers and foreign ministers from both countries and by French President F... | FRANCO-GERMAN PARLEY FAILS TO UNBLOCK FARM TALKS |
Toll Brothers Inc said it has opened a Washington D.C.-Baltimore Metro divisional office in Greenbelt Md. Reuter | TOLL BROTHERS <TOL> OPENS NEW OFFICE |
Venezuelas cabinet approved a new exchange rate for oil and mining export earnings setting it at 14.50 bolivars to the dollar from 7.50 bolivars previously Minister Manuel Azpur UA said. Azpur told reporters after a cabinet meeting that the measure is fundamental to conserving the economic and financial strength of the... | VENEZUELA LOWERS EXCHANGE RATE FOR OIL EARNINGS |
CyCare Systems Inc said it bought Control Data Corps <CDA> MedTec unit for an undisclosed sum. The company said MedTecs new client base could have a significant impact on long-term revenues although it expects a minimal positive impact on earnings in the next six months. It said the assets purchased include processi... | CYCARE SYSTEMS INC <CYCR> BUYS MEDTEC |
Canadian Tire Corp Ltd said it still hopes a special board committee can solve a voting rights dispute between class A and common stock shareholders. Although no such proposal has yet been developed the directors hope that such a result can be achieved chairman Hugh Macaulay said at the annual meeting. The committee fo... | CANADIAN TIRE <CTC.TO> HOPES TO SOLVE DISPUTE |
BASS-LED GROUP HAS 8.9 PCT BELL and HOWELL CO STAKE FOR INVESTMENT | |
First Pennsylvania Bank N.A. the major subsidiary of First Pennsylvania Corp said it will add a variable-rate <VISA> card to its consumer credit product line. The bank said the card carries a 14 pct annual interest rate that is guaranteed through Sept 30 after which time the interest rate will increase or decrease i... | FIRST PENNSYLVANIA <FBA> TO LAUNCH NEW VISA CARD |
McChip Resources Inc said it has agreed to exchange its interest in Oklahoma oil and gas properties operated by Reserve Exploration Co <REXC.O> for 638435 restricted Reserve common shares. The company said it will have a 44 pct stake in Reserves outstanding shares as a result of the exchange. Reuter | MCCHIP <MCS.TO> TO ACQUIRE RESERVE HOLDING |
Sales of new single-family homes tumbled 14.9 pct in May from April levels because of higher mortgage interest rates analysts said. There should be another month or two of very weak new home sales but with interest rates stabilizing sale of new homes should become more stable by mid-summer said economist Lawrence Chime... | INTEREST RATES HURT U.S. MAY HOUSING SALES |
First American Financial Corp said it repurchased 997756 shares or 18 pct of its own common stock from American Century Corp <ACT> for 29.50 dlrs per share in cash and two real estate properties in California. Concurrent with the closing of the deal its First American Title Insurance Co unit entered into a long-term... | FIRST AMERICAN <FAMR.O> BUYS BACK STOCK |
Brazils land reform program long trumpeted by the government as one of its absolute priorities is mired in bureaucracy after achieving very few of its aims. Officials acknowledge that progress is now minimal. Land rights activists see no progress at all and say things are actually worsening. Over the last year economic... | BRAZIL LAND REFORM PROGRAM FALTERS, TENSIONS RISE |
Standard and Poors Corp said it upgraded Phelps Dodge Corps senior debt to BB-plus from BB and preference stock to BB-minus from B-plus. About 400 mln dlrs of debt and preference stock is outstanding. Continuing cost cutting in its copper operations has significantly enhanced the firms competitive position S and P said... | S/P UPGRADES PHELPS DODGE <PD> DEBT, PREFERRED |
A subsidiary of (Kyowa Hakko Kogyo Co Ltd) and privately-held (Murex Corp) jointly announced they signed an agreement giving Kyowa exclusive rights in Japan to market certain Murex products to detect AIDS. The companies estimated that Japanese clinicians will perform a minimum of 28 mln AIDS tests a year. The Murex pro... | KYOWA LICENSES AIDS TEST FROM MUREX |
An investor group led by Robert Bass of Fort Worth Texas said it owns 786800 shares of Bell and Howell Co common stock equal to 8.9 pct of the companys common stock outstanding. In a filing with the Securities and Exchange Commission the group said it purchased 511500 Bell and Howell common shares between April 29 and ... | BASS GROUP HAS STAKE IN BELL AND HOWELL <BHW> |
American Century Corp said its Commerce Savings unit will sell 997756 common shares in First American Financial Corp <FAMR.O> representing 18 pct of First American. The company said the shares are being repurchased by First American for 29.4 mln dlrs and two real estate assets in California. It said Commerce Savings... | AMERICAN CENTURY <ACT> UNIT SELLS STOCK |
The United States responded to an apparent escalation of Iranian rhetoric with continued assurances that its expanded military force in the Gulf would play purely a deterrent role. I can only emphasize that our role there is deterrent that were going to be assuring safety for American shipping and that that shipping is... | U.S. REASSERTS PLANS FOR DETERRENT ROLE IN GULF |
Belden and Blake Energy Co a master limited partnership said it entered into an agreement to sell 400000 of its units for two mln dlrs in cash. The company said <Great Pacific Capital S.A.> of Geneva Switzerland is acting as lead manager for the private placement of the units with international investors. Under the ... | BELDEN <BBE> TO SELL UNITS INTERNATIONALLY |
Texas Instruments Inc (TXN) has been awarded a 556.1 mln dlr contract to build 2575 high-speed anti-radiation missiles (HARM) the Navy said. The company also has won a 5.9 mln dlr contract to upgrade M-48 tanks for Turkey the Army said. REUTER | TEXAS INSTRUMENTS GETS 556.1 MLN DLR CONTRACT |
Life Technologies Inc said it has submitted to the Food and Drug Administration a new test which has proven effective in detecting a sexually transmitted virus thought to play a role in the development of cervical cancer. Life Technologies said the test called ViraPap identifies the presence of human papillomavirus (HP... | LIFE TECHNOLOGIES <LTEK.O> FILES TEST WITH FDA |
Security Federal Savings and Loan Association said the initial public offering of its holding company Security Financial Group Inc has been completed. The company said the offering by Security Financial consisted of 766251 issued through the conversion of Security Federal to stock ownership from mutual ownership. It sa... | SECURITY <SFGI.O> COMPLETES INITIAL OFFERING |
Shr 40 cts vs 11 cts Net 8265000 vs 2255000 Sales 248.3 mln vs 245.4 mln Six mths Shr 94 cts vs 51 cts Net 19.4 mln vs 10.6 mln Sales 531 mln vs 535.8 mln Reuter | HARTMARX CORP <HMX> 2ND QTR MAY 31 NET |
Standard and Poors Corp said it affirmed ratings on 500 mln dlrs of Bank of New York Co debt after the bank set a special LDC loan loss reserve. Affirmed are the A-plus senior debt rating the A subordinated debt A-1-plus commercial paper and respective A-plus and A1-plus ratings on certificates of deposit of Bank of Ne... | BANK OF NEW YORK <BK> DEBT AFFIRMED BY S/P |
Qtly div 35 cts vs 35 cts Pay Sept 11 Record Aug 10 Reuter | BOEING CO <BA> QUARTERLY DIVIDEND |
CXR Telcom Corp and Torotel Inc agreed in principle to settle pending litigation regarding the sale of Torotels former Halcyon Communications Inc unit to CXR in March 1986 the two companies said in a joint statement. The agreement calls for CXR to pay to Torotel 1350000 dlrs in exchange for return of a 2.5 mln dlr note... | CXR <CXRL.O>,TOROTEL <TRTL.O> TO SETTLE SUIT |
Matthews and Wright Group Inc citing the opinion of bond counsel said certain bond issues that it underwrote were validly issued and will continue to receive tax-exempt status. The company issues the statement as its stock fell 2-1/8 to 4-5/8 on the American Stock Exchange. Matthews and Wright said that in response to ... | MATTHEWS AND WRIGHT <MW> SAYS BONDS TAX-EXEMPT |
Cablevision Systems Corp said it bought cable television systems in six Dutchess County N.Y. communities from Dutchess County Cablevision Associates Ltd. The company said the acquisition of the new systems will add to its presence in New York. It said it will add 4400 subsribers to its 568000 subscriber base. Reuter | CABLEVISION SYSTEMS <CVCC> BUYS STATIONS |
MOODY'S AFFIRMS 1.2 BILLION DLRS OF DEBT OF BANK OF NEW YORK CO | |
Ashford Financial Group said it will create its first master limited partnership in the third quarter. The company said the move will allow small investors to participate in the early-stage financing of its new client companies. The company said investors will also find they have more liquidity than in traditional limi... | <ASHFORD FINANCIAL> CREATES LIMITED PARTNERSHIP |
Austec International Ltd said its North American unit Austec Inc completed the purchase of privately-held Ryan-McFarland Corp for an undisclosed sum. The company said the two units combined are expected to have net revenues of about 25 mln dlrs in 1987. Ryan-McFarlnad develops COBOL and FORTRAN language compilers for t... | AUSTEC <AIL.S> COMPLETE PURCHASE OF PRIVATE FIRM |
Pepsi-Cola USA said received an exclusive five-year contract to supply soft drinks to all of Harcourt Brace Jovanovich Incs <HBJ> Sea World theme parks in the United States effective Jan 1 1988. Pepsi said Sea World has had an account with Coca-Cola for the past 16 years. Pepsi said Sea World operates five major the... | PEPSI <PEP> GETS SUPPLIER CONTRACT |
The Securities and Exchange Commissions entry into the battle between Texaco Inc and Pennzoil Co <PZL> could affect the outcome of the 10.3 billion dlr legal saga some analysts said. Texaco today said the SEC would file a friend of the court brief on the tender offer rule as it pertains to the case. Some analysts co... | TEXACO (QTX) MAY BENEFIT FROM SEC BRIEF |
Negotiations resumed in the 14-day-old strike by Canadas letter carriers and picket line violence subsided after the federal government changed its mind and appointed a mediator. The talks between the 20000-member Letter Carriers Union of Canada and government-owned Canada Post were the first since Labor Minister Pierr... | NEGOTIATIONS RESUME IN CANADIAN POSTAL STRIKE |
JMB REALTY TRUST CUTS DIVIDEND TO 35 CTS FROM 41 CTS | |
TECSYN INTERNATIONAL TERMINATES TAKEOVER TALKS WITH INVESTOR GROUP | |
Boeing Co has been awarded a 43.4 mln dlr contract for management and production work on the B-52G upgrade program the Air Force said. REUTER | BOEING <BA> GETS 43.4 MLN DLR CONTRACT |
<Campeau Corp> said it is not involved in the Securities and Exchange Commissions administrative proceeding against Allied Stores Corp which Campeau acquired at the end of last year. In a statement the company said The SEC action involves events that occurred prior to Campeaus acquisition of Allied relating to the a... | CAMPEAU SAYS IT IS NOT PART OF SEC PROCEEDING |
Henley Group Incs M.W. Kellogg Co subsidiary said it in consortium with <Inelectra> received a contract from Corpoven S.A. a Venezuelan-owned domestic oil company to revamp and expand its El Palito Refinery. Kellogg said the installed cost of the work to be performed is estimated to be 130 mln dlrs. Inelectra Kellog... | HENLEY <HENG.O> HAS VENEZUELAN REFINERY PROJECT |
Equitble Real Estate Shopping Centers L.P. said it has executed a ground lease with Federated Department Stores Inc <FDS> for a site at its Brookdale Shopping Center in Brooklyn Center Minn. Equitable said Federated will build a 67000 squre feet department store and will operate it under its MainStreet division. The... | EQUITABLE REAL ESTATE <EQM> TO LEASE STORE SPACE |
The Hong Kong and Shanghai Banking Corp said it named John Bond chief executive officer Americas succeeding Angus Petrie who is retiring. Bond will have responsibility for the banks operations in the United States Canada and Latin America the company said. Reuter | HONK KONG AND SHANGHAI <HKS> NAMES AMERICAS CEO |
Fortune Systems Corp said its shareholders approved the sale of its computer hardware business to SCI Technologies Inc. The transaction is expected to close this week. At its annual meeting Fortune said shareholders also voted to change Fortunes name to Tigera Inc. Its principal subsidiary is Tigeral Corp. Reuter | FORTUNE SYSTEMS <FSYS.O> APPROVES UNIT SALE |
International Broadcasting Corp said it plans to make a secondary public offering of between 700000 and 800000 shares of common stock. The offering will be made through underwriters in mid-August. International Broadcasting did not identify the underwriters. The company said it plans to file a registration statement on... | INTERNATIONAL BROADCASTING <IBCA.O> IN OFFERING |
Warrantech Corp said it agreed with Providence Washington Insurance Group to insure Warrantechs obligations on its Extended Service line of business. The company said that last year it wrote over 1.9 mln dlrs of extended service plans representing over 20 mln dlrs worth of electronic products. The company said the agre... | WARRANTECH CORP <WTEC.O> AGREES INSURANCE |
Middle South Utilities Inc said the Federal Energy Regulatory Commission has requested a 30-day stay of a U.S. Court of Appeals ruling ordering the commission to reconsider its allocation of costs from the Grand Gulf One nuclear power plant. More than two years ago FERC set the allocation af Grand Gulf capacity and cos... | FERC SEEKS STAY OF MIDDLE SOUTH <MSU> RULING |
Qtly div 35 cts vs 41 cts prior Pay July 31 Record July 15 Reuter | JMB REALTY TRUST <JMBR.O> SETS DECREASED PAYOUT |
U.S. SELLS 3-MO BILLS AT 5.82 PCT, STOP 5.82 PCT, 6-MO 6.00 PCT, STOP 6.01 PCT | |
TecSyn International Inc said it terminated takeover discussions with a U.S.-based investors group after the group was unable to establish access to funds to complete the proposed transactions contrary to previous assurances. TecSyn previously said it and its controlling shareholders accepted in principle a proposal fr... | TECSYN <TSNA.TO> TERMINATES TAKEOVER TALKS |
Goodyear said it is selling its 50 pct interest in Toyobo Petcord Ltd of Japan to its partner in the venture Toyobo Co. Reuter | GOODYEAR <GT> TO SELL STAKE IN TOYOBO PETCORD |
Infinite Graphics Inc said it signed a letter of intent to create a joint venture with <Computer Design Equipment Co> to expand sales of its computer-aided design equipment in the Midwest. Infinite Graphics said it will manage and hold the controlling interest in the venture National CADD-Pro Upper Midwest. Computer... | INFINITE GRAPHICS <INFG.O> IN JOINT VEENTURE |
Shr 16 cts vs two cts Net 391000 vs 57000 Sales 7917000 vs 7255000 Six mths Shr 47 cts vs 17 cts Net 1164000 vs 422000 Sales 27.9 mln vs 24.3 mln NOTE: Full company name is Washington Scientific Industries Inc. Second quarter ended June seven. Reuter | WASHINGTON SCIENTIFIC <WSCI.O> 2ND QTR NET |
Western Union said it signed an agreement with <Electronic Data Systems Corp>. Under the agreement EDS will provide Western Unions easylink electronic mail service to the 35000 EDS diamond communications users of General Motors Corp <GM> internal electronic mail network. Diamond is an interface linking eight inco... | WESTERN UNION <WU> IN PACT WITH ELECTRONIC DATA |
Warwick Insurance Managers Inc the holding company for Warwick Insurance Co and its subsidiaries said it purchased 55000 shares of its own common stock. The company said it may establish an employee stock ownership plan and that the shares purchased would be made available to the plan if it is adopted. Reuter | WARWICK INSURANCE <WIMI.O> BUYS STOCK |
Israels exports to the U.S. can and must double over the next five years if the mideast nations goal of economic independence is to be achieved said Gad Yaacobi Israeli minister of Economy and Communication. Speaking before an American-Israel Chamber of Commerce seminar Yaacobi said that in 1986 Israeli exports to the ... | ISRAEL MINISTER SEES INCREASED EXPORTS TO U.S. |
Revco D.S. Inc said it expects a loss of 14 mln dlrs for the fourth quarter ended May 30. The company said it expects sales of 703 mln dlrs with operating profit at 52 mln dlrs. The company said that it expects sales in the full fiscal year ending May 30 of around 2.7 billion dlrs with operating profit of around 159 ml... | <REVCO> SEES 4TH QTR LOSS |
The House of Representatives passed a bill that requires financial institutions to disclose the terms and conditions of interest rates they offer on savings accounts. Institutions would be required to disclose through advertisments and announcements the minimum balances time requirements fees and other conditions of th... | U.S. HOUSE PASSES TRUTH IN SAVINGS ACT |
GENCORP INC SAYS TO SELL GENERAL TIRE TO CONTINENTAL GUMMI FOR 650 MLN DLRS | |
Moodys Investors Service Inc said it downgraded Potomac Electric Power Cos preferred stock to AA-1 from AAA and it continues to review the utilitys AAA bond rating for downgrade. Some 1.3 billion dlrs is affected. The prime-1 commercial paper rating is not under review. Moodys said it expects Potomac Electrics credit q... | MOODY'S DOWNGRADES POTOMAC ELECTRIC <POM> STOCK |
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