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CONTEL CORP SAYS IT EXPECTS LOWER SECOND QUARTER, YEAR NET | |
Bally Manufacturing Corp said it called for optional redemption of its outstanding Series E increasing dividend preferred stock on August 1 at 50 dlrs a share. The redemption price will be payable on August 1. The regular quarterly dividend of 1.50 dlrs a share will be paid August 1 record July 15. Reuter | BALLY <BLY> TO REDEEM PREFERRED SHARES |
Shr 12-1/2 cts vs 12-1/2 prior qtr Pay July 15 Record July 8 Reuter | FIRST AMERICAN FINANCIAL CORP <FAMR.O> PAYOUT |
Contel Corp said its expects to report second quarter earnings that are lower than last years 74 cts a share and 1987 earnings from continuing operations that are about 15 pct lower than last years 3.04 dlrs per share. Donald Weber president and chief executive officer of Contel said that lower than expected revenues h... | CONTEL <CTC> SEES LOWER 2ND QTR, YEAR NET |
Venezuelas government tomorrow presents a 1988 budget proposal for 183.432 billion bolivars based upon an oil price of 16.35 dlrs per barrel finance minister Manuel Azpurua said. Azpurua told reporters after a cabinet meeting the new budget projects ordinary income of 149.925 billion bolivars and extraordinary income o... | VENEZUELA BUDGET SEES 16.35 DLRS OIL PRICE |
Hartmarx Corp is in excellent financial condition and expects record earnings in the second half of fiscal 1987 Chairman John Meinert said in a statement. The company reported earnings for the second quarter ended May 31 of 8265000 dlrs or 40 cts a share on sales of 248.3 mln dlrs compared to earnings of 2255000 dlrs o... | HARTMARX <HMX> SEES RECORD EARNINGS |
Moodys Investors Service said it downgraded American Healthcare Managements outstanding 80 mln dlrs of 15 pct subordinated notes to Caa from B-1. Moodys said that noteholders now have the option to accelerate payment of the issue as early as July 15 1987. The rating had been under review since April. The agency noted t... | AMERICAN HEALTHCARE <AHI> DOWNGRADED BY MOODY'S |
Gencorp Inc and Continental AG of Hanover West Germany jointy announced they signed an agreement for Continental to buy Gencorps General Tire Inc subsidiary for 650 mln dlrs in cash. Under the agreement the companies said Continental will acquire General Tire including its related domestic and foreign operations and Ge... | GENCORP <GY> TO SELL GENERAL TIRE |
The U.S. Department of Housing and Urban Development (HUD) said it backed an eventual severing of the link between the government and the Federal National Mortgage Association -- better known as Fannie Mae. But the department in a long-awaited report requested by Congress in 1984 shied from setting a timetable for the ... | U.S. HOUSING DEPT. BACKS PRIVATIZING FNMA <FNM> |
The House of Representatives passed a resolution urging President Reagan to negotiate a world-wide treaty to reduce the use of chlorofluorocarbons which are depleting the earths ozone layer. Chlorofluorocarbons are chemicals used in aerosol sprays refrigeration air conditioning foam insultation fire extinguishers and c... | HOUSE RESOLUTION URGES TREATY TO PROTECT OZONE |
Shr loss 79 cts vs profit 30 cts Net loss 2.1 mln dlrs vs profit 675935 dlrs Revs 5.5 mln dlrs vs 9.1 mln dlrs Note:the year ended March 31. The companys full name is Advanced Institutional Management Software Inc Reuter | ADVANCED INSTITUTIONAL <AIMS.O> YEAR LOSS |
Moodys Investors Service Inc said it affirmed National City Corps long-term debt ratings and those of its major subsidiaries National City Bank and BancOhio National Bank. Some 200 mln dlrs of issues are affected. Moodys action followed the announcement by National City Corp that it would add a special provision of 55 ... | MOODY'S AFFIRMS NATIONAL CITY CORP <NCTY> DEBT |
Kellwood Co said it signed a definitive agreement to acquire Robert Scott Ltd Inc David Brooks Ltd Inc and Andrew Harvey Ltd of Dedham Mass. Terms were not disclosed. Combined sales of the three companies in 1986 were over 50 mln dlrs it said. The deals are expected to be completed by July 31 Kellwood said. Reuter | KELLWOOD <KWD> BUYING THREE COMPANIES |
Moodys Investors Service Inc said it affirmed 1.2 billion dlrs of debt of The Bank of New York Co Inc and units. Affirmed were the parents A-1 senior notes and preferred stock A-2 subordinated capital notes and prime-1 commercial paper. Also affirmed were The Bank of New Yorks Aa-2 long-term deposits and prime-1 short-... | BANK OF NEW YORK <BK> DEBT AFFIRMED BY MOODY'S |
Bell Canada owned by Bell Canada Enterprises Inc said it will reduce long distance rates in Canada by an average of between two and eight pct in line with a ruling by Canadian regulators. The company said it does not expect any change to net revenues. The company said it will cut rates for calls within Ontario Quebec a... | BELL CANADA <BCE> UNIT DETAILS RATE REDUCTIONS |
FIRST REPUBLICBANK CORP SAID IT WILL ADD 325 MLN DLRS TO LOAN LOSS RESERVES | |
A.H. ROBINS SAYS RORER GROUP MERGER PROPOSAL MERITS FURTHER CONSIDERATION | |
Two leading Senate Republicans have urged the White House to name Commodity Futures Trading Commission (CFTC) Commissioner Kalo Hineman to replace outgoing Chairman Susan Phillips congressional sources said. Senate Republican leader Robert Dole (R-Kan.) and Sen. Richard Lugar (R-Ind.) ranking minority member on the Sen... | SENATE REPUBLICANS BACK HINEMAN FOR CFTC POST |
Standard and Poors Corp said it upgraded Heritage Communications Incs senior debt to BB-minus from B-plus and subordinated debt to B from B-minus. About 400 mln dlrs of debt is affected. S and P also said that Tele-Communications Incs preliminary BB-minus rating on a 250 mln dlr shelf registration of debt and B rating ... | S/P UPGRADES HERITAGE COMMUNICATIONS <HCI> DEBT |
Mitsubishi Semiconductor America Inc a subsdiary of <Mitsubishi Electric Corp> said it plans to invest 36 mln dlrs to expand its Durham N.C. semiconductor operation. The company said it will build a building adjacent to the companys memory chip assembly plant and test center in N.C. The expansion will allow the subs... | MITSUBISHI SEMICONDUCTOR PLANS U.S. EXPANSION |
Digital Communications Associates Inc said it agreed with Fox Technology Inc <FOXT.O> to buy its Fox Research Inc unit for a cash payment and the assumption of liabilities of around 10 mln dlrs. The company said part of the agreement includes payment of up to an additional 6.5 mln dlrs based on the performance of th... | DIGITAL COMMUNICATIONS <DCAI.O> BUYS FOX UNIT |
Tennessee Senator Albert Gore seeking to become the youngest president in U.S. history entered the 1988 presidential race today with a pledge to return respect for the law and common sense to the White House. Gore a four-term member of the House of Representatives and a Senator since 1985 became the sixth official entr... | SENATOR GORE ENTERS PRESIDENTIAL RACE |
Standard and Poors Corp said it has placed Reichhold Chemicals Incs BBB-minus rated subordinated debt on Creditwatch with developing implications following Dainippon Inc and Chemicals Incs unsolicited bid for Reichhold. About 60 mln dlrs of debt is affected. S and P said that if Dainippon is successful it is likely to ... | S/P REVIEWS REICHHOLD CHEMICALS <RCI> RATING |
A.H. Robins Co said its board has concluded that the merger proposal submitted by Rorer Group Inc <ROR> merits further consideration. At the request of the board Rorer has agreed to extend until 1800 EDT July 2 its deadline for response from A.H. Robins. After Rorer announced its second bid for the company last Thur... | A.H. ROBINS <QRAH> TO CONSIDER RORER OFFER |
Pakistani government allowed freer cotton and rice export in a three-year new trade policy aimed at narrowing the countrys yawning trade gap. Commerce and Planning Minister Mahbubul Haq said in a televised speech the government had also decided to allow duty-free import of cotton yarn to make the textile industry more ... | PAKISTAN UNVEILS NEW TRADE POLICY TO BOOST EXPORTS |
First RepublicBank Corp said it will add 325 mln dlrs to its loan loss reserve for the second quarter. The company said the move which is being made to cover loans to developed countries will result in a loss of around 313 mln dlrs in the second quarter ending June 30. First RepublicBank Corp said the increase in its l... | FIRST REPUBLIC <FRB> ADDS TO LOAN LOSS RESERVE |
A U.S. decision ending a forty-year tax treaty covering the Netherlands Antilles was unlikely to have a major impact on the Eurobond market tax experts said. Most U.S. firms stopped using financial subsidiaries incorporated in the Netherlands Antilles to sell to the Eurobond market in July 1984 the experts said. But th... | LIMITED IMPACT SEEN FROM U.S. TAX ACCORD ACTION |
Citicorp has extended its reach into the California market with Citicorp Savings acquisition of 50 of Sears Roebucks <S> Sears Savings Bank branches bringing its presences to 143 branches in 101 communities CitiCorp Savings said. Thrift industry analysts said the move approved by the Federal Reserve board today is a... | CITICORP <CCI> SAVINGS EXTENDS CALIFORNIA REACH |
The International Monetary Fund said it approved a 48 mln dlr loan to assist Ecuador in meeting its foreign exchange needs following the earthquakes that struck in March. The loan which the IMF provides countries under special circumstances is equal to 25 pct of Ecuadors quota or economic standing in the Fund. The IMF ... | IMF APPROVES 48 MLN DLR LOAN TO ASSIST ECUADOR |
BCI Holdings Corp said holders of a majority of its debt securities approved an amendment consenting to a distribution of certain assets of the company clearing the way for BCIs planned reorganization. Under the previously approved reorganization BCI will be divided into two companies including a newly-formed publicly ... | BCI HOLDINGS GETS CONSENT FOR STOCK DISTRIBUTION |
Star Technologies Inc said that a settlement of a 1985 shareholder lawsuit has produced a 1.3 mln dlr charge which the company recorded in its fourth quarter earnings. The company said it will pay the settlement with company stock subject to court approval. To reflect the settlement therefore the company said it has re... | STAR TECHNOLOGIES <STTX.O> REVISES 4TH QTR NET |
Indiana National Corp said it expects a loss of four mln dlrs for the second quarter ending June 30 against a profit of eight mln dlrs in the same year ago period. The company said this will result from an addition of 23 mln dlrs to its foreign loan reserves in tandem with banking industry action. It said it expects a ... | INDIANA NATIONAL <INAT.O> SEES 2ND QTR LOSS |
Contel Corps telecommunications equipment unit is the most likely candidate for sale by the Atlanta-based telecommunications company Wall Street analysts said. Executone is at the top of the list said one analyst referring to Contels loss-riden telecommunications equipment unit. The question is who would take it? he ad... | CONTEL <CTC> UNIT SALES SEEN BY ANALYSTS |
Belmoral Mines Ltd said it agreed in principle for the 26 mln dlr sale of four mln units priced at 6.50 dlrs each to investment dealer McLeod Young Weir Ltd subject to board and regulatory approvals. Holders will be allowed to exchange the units after September 15 1987 for one common share and one common share purchase... | BELMORAL <BME.TO> SETS 26 MLN DLR UNIT ISSUE |
Shr profit two cts vs loss two cts Net profit 123000 vs loss 104000 Revs 12.5 mln vs nil Note: 1987 period includes 112000 dlr extraordinary gain. Reuter | ROYAL GOLD AND SILVER CORP <RGS.TO> SIX MTHS NET |
Scott Paper Co one of the leaders in the tissue and coated paper business said it expects 1987 earnings to be between 5.75 dlrs and 6.25 dlrs a share within the range proscribed by most Wall Street analysts. We have put together five or six years of pretty respectable growth and three consecutive years of record earnin... | SCOTT PAPER <SPP> SEES IMPROVED EARNINGS |
Canada Development Corp <CDC.TO> said it agreed to sell its 25.2 pct interest in CDC Life Sciences Inc to Caisse de depot et placement du Quebec the provincial pension fund manager and Institut Merieux a French biological laboratory company for 169.2 mln dlrs. It said the caisse and Institut Merieux will each buy 2.... | CDC LIFE SCIENCES <LSI.TO> STAKE SOLD |
A U.S. judge denied Bristol Meyers Incs request to halt Abbott Laboratories <ABT> planned supply of AIDS tests to the Red Cross a spokeswoman for Abbott said. Judge Joyce Hens Green of the U.S. District Court in Washington D.C. rejected Bristol Meyers request for a temporary restraining order against Abbotts contrac... | BRISTOL MEYERS <BMY> LOSES AIDS TESTS CASE |
APL Corp said it sold 1250000 shares of Porex Technologies Corp it owned for 40.6 mln dlrs and pending federal approval will use the proceeds to buy 1.5 mln shares and certain notes of Fischbach Corp <FIS> that APLs Pennsylvania Engineering Corp affiliate owns. Victor Posner is chairman of APL and Pennsylvania Engin... | APL CORP SELLS 1.3 MLN SHARES OF POREX <PORX.O> |
Dixons Group Plc said shareholders at a special meeting of Cyclops Corp approved the previously announced merger of Cyclops with Dixons. Under the terms of the merger Dixons said the remaining public Cyclops shareholders are to receive 95 dlrs a share. Dixons also said the previously announced sale of Cyclops steel and... | CYCLOPS <CYL> HOLDERS APPROVE DIXONS MERGER |
Ste-Genevieve Resources Ltd said it increased its cash takeover bid for Sullivan Mines Inc shares to 7.25 dlrs a share. It did not give the original bid. The offer is for a minimum five mln common shares and a maximum six mln shares the company said. It gave no further details. Reuter | STE-GENEVIEVE UPS OFFER FOR SULLIVAN <SUM.TO> |
Prospects appear slim for a summer meeting between U.S. and Soviet officials before the two countries enter the final year of their bilateral grains agreement Agriculture Department officials said. The two sides usually try to meet as each new year of the agreeement approaches although the last meeting was delayed up t... | U.S./SOVIET GRAIN MEETING UNLIKELY THIS SUMMER |
GE CREDIT SAYS IT WILL BUY KRAFT INC'S D AND K FINANCIAL CORP | |
Shr five cts vs one ct Net 299869 vs 54775 Revs 5.7 mln vs 5.2 mln Note: period ended April 30. Reuter | WALL AND REDEKOP CORP <WRK.TO> THREE MTHS NET |
ALZA Corp said it has notified the State of California Regional Water Quality Control Board of a plan to remedy groundwater and soil contamination it detected at a site in Stanford Research Park. A preliminary water sample showed water apparently contaminated some years ago with the industrial solvent chloroform. The c... | ALZA CORP <AZA> SETS CONTAMINATION PLAN |
The Justice Department said it asked the government to proceed cautiously on a plan allowing the nations two largest intercity bus companies to merge their operations a move one of the firms said may derail the deal. Justices opposition to quick federal approval of a bid by Greyhound Lines Inc to take immediate control... | JUSTICE OPPOSES QUICK GREYHOUND-TRAILWAYS MERGER |
Lockheed Corp said NASA selected it to develop and design software for the Space Station in a contract with a potential value of more than 200 mln dlrs. Lockheed said the contract will continue into 1993 when assembly of the station in a 200-mile earth orbit is scheduled to begin. Reuter | NASA SELECTS LOCKHEED <LK> FOR SPACE STATION |
The Federal Reserve Board said it approved Sovran Financial Corps application to retain shares in Sovran Insurance Corp of Bethesda Md. Sovran controls banks in Maryland Virginia and the District of Columbia and last year acquired Suburban Bancorp which controlled an insurance subsidiary. Insurance industry trade group... | FED APPROVES INSURANCE ROLE FOR SOVRAN <SOVN> |
Elsinore Corp said it deposited 5795833 dlrs with Manufacturers Hanover Trust Co the trustee of its Elsinore Finance Corp units 15-1/2 pct senior mortgage bonds due 1999. The deposit represents the balance of accrued and unpaid interest on the bonds thorugh June 30 1986. Elsinore Corp has guaranteed payment on the bond... | ELSINORE <ELS> SETS DEPOSIT ON BONDS |
Qtly div 24 cts vs 24 cts Pay August 14 Record July 24 Reuter | AMERON INC <AMN> SETS QTLY DIV |
Harcourt Brace Jovanovich Inc said it sold 4805432 shares of its common at 10.25 dlrs a share to an employee stock ownership plan as part of its previously announced recapitalization plan. Harcourt said the shares sold are not entitled to a special dividend previously declared under the plan. It said the shares will be... | HARCOURT <HBJ> SELLS SHARES TO ESOP |
More leading U.S. manufacturers plan to increase the proportion of their U.S.-based production vis-a-vis their overseas output over the next two years according to a Boston University School of Management survey. The Manufacturing Roundtable 1987 study showed 32 pct of manufacturers plan to shift output to their domest... | SURVEY SEES U.S. MANUFACTURERS SHIFTING OUTPUT |
Allied-Signal Inc and Schlumberger Ltd jointly announced that Schlumberger had acquired Allied-Signals Neptune International unit. Terms werent disclosed. Atlanta Ga.-based Neptune which makes water meters and flow measurement equipment had sales last year of 80 mln dlrs. Reuter | ALLIED-SIGNAL <ALD> SELLS TO SCHLUMBERGER <SLB> |
The Federal Home Loan Bank Board said it closed down the insolvent United Federal Savings and Loan Association of Durant Okla and turned its insured deposits and other assets and liabilities over to a newly created federally chartered thrift. It said the failed thrifts four offices would reopen tomorrow under Bank Boar... | U.S. BANK BOARD TAKES OVER INSOLVENT THRIFT |
American Century Corp said its Commerce Savings subsidiary received 42.8 mln dlrs in complete redemption of certain properties in Aspen Colo that Commerce foreclosed on in April. American said the amount represents the amount that Commerce bid for the properties in the April foreclosure sale plus interest since the dat... | AMERICAN CENTURY <ACT> COMPLETES REDEMPTION |
Shr 64 cts vs 40 cts Net 5597000 vs 3426000 Revs 83.5 mln vs 47.4 mln Six mths Shr 1.15 dlrs vs 60 cts Net 10 mln vs 5201000 Revs 147.6 mln vs 91.5 mln Reuter | LENNAR CORP <LEN> 2ND QTR MAY 31 |
The U.S. Defense Department said it has given preliminary approval for Egypt to produce the M-1A tank the main battle tank of the United States. The State and Defense Departments said talks were going on between the two countries dealing with Egypts ability to build the tank and protect its high technology secrets. The... | U.S. COULD APPROVE EGYPTIAN M-1A TANK PRODUCTION |
Finance ministers from the 13-member Caribbean Community (Caricom) approved a draft agreement for a new export credit facility in an effort to stem the steady decline in interregional trade. The Caribbean Export Credit Bank scheduled to begin operations January 1 1988 will be headquartered in Barbados. Its initial capi... | EXPORT CREDIT BANK FOUNDED BY CARIBBEAN NATIONS |
Digital Communications Associates Inc <DCAI.O> said it has entered into an agreement to acquire substantially all the assets of Fox Technology Incs Fox Research Inc subsidiary. The company said it will assume about 10 mln dlrs of Fox liabilities with a provision for a further 6.5 mln dlrs based on the future financi... | DIGITAL <DCAI.O> TO ACQUIRE FOX <FOXT.O> UNIT |
Pakistan announced a new tea import policy saying 70 pct of imports will in future be made through the state Trading Corporation of Pakistan (TCP). Commerce Minister Mahbubul Haq said in a television broadcast that no more than one-third of the remaining 30 pct allocated to the private sector would be permitted to come... | STATE TO CONTROL 70 PCT OF PAKISTAN TEA IMPORTS |
General Electric Cos GE Credit Corp said it agreed to buy all of the capital stock of Kraft Incs wholly owned subsidiary D and K Financial Corp. Terms of the acquisition were not disclosed. D and K with assets of more than one billion dlrs is one of the leading U.S. companies involved in the leasing of fleets of cars a... | GENERAL ELECTRIC <GE> TO BUY KRAFT <KRA> UNIT |
<Industrial Equity (Pacific) Ltd> (IEP) the Hong Kong-listed unit of Brierley Investments Ltd <BRYA.WE> said it has lifted its stakes in British oil company Ultramar Plc <UMAR.L> and U.S. Firm <Ogelbay Norton Co>. IEP told the Stock Exchange it now holds 36.03 mln Ultramar shares representing 13.07 pct of t... | IEP LIFTS ULTRAMAR AND OGELBAY NORTON STAKES |
Japan May unemployment record 3.2 pct (3.0 pct in April) - official | |
Japans seasonally adjusted unemployment rate rose to a record 3.2 pct in May the worst level since the government started compiling unemployment statistics in 1953 the governments Management and Coodination Agency said. The May rate surpassed the previous record of 3.0 pct marked set in January and April this year. It ... | JAPAN UNEMPLOYMENT RISES TO RECORD 3.2 PCT IN MAY |
Miyazawa says there are no plans at all for G-5 or G-7 talks | |
AUSTRALIAN ALL ORDINARIES SHARE INDEX DROPS 416.9 POINTS IN FIRST 45 MINUTES | |
Japanese Finance Minister Kiichi Miyazawa said the Group of Seven (G-7) nations still support the Louvre Accord to stabilise currencies. He also told a news conference following a cabinet meeting that the Group of Five (G-5) and G-7 do not have any plans to meet for talks. The Finance Minister further said that oversea... | MIYAZAWA SAYS G-7 STILL SUPPORTS LOUVRE ACCORD |
Tokyo stock index slumps 918.86 points to 24,827.70 after 66 minutes' trade | |
Miyazawa says Baker's remarks were aimed at just reaffirming Louvre agreement | |
HONG KONG STOCK EXCHANGE TRADING SUSPENDED UNTIL NEXT MONDAY - EXCHANGE | |
Japans Finance Minister Kiichi Miyazawa said that remarks by U.S. Treasury Secretary James Baker on Sunday that some nations were not abiding by the spirit of the Louvre Accord were just aimed at reaffirming that agreement. The agreement to cooperate in stabilising currencies was reached in Paris in February this year.... | BAKER REMARKS AIMED AT CONFIRMING ACCORD-MIYAZAWA |
Tokyo's stock index falls 1,336.00 points to 24,410.56 after 87 minutes | |
An explosive device blew up in the Philippine Congress building early on Tuesday a congressional security official said. He said no-one was injured in the blast which damaged a telephone booth on the second floor at about 0825 local time (0025 GMT). Captain Rosalo Ylagan head of congressional security said the device c... | EXPLOSION IN PHILIPPINE CONGRESS, NO INJURIES |
Japan said it understood why the U.S. Attacked an Iranian oil platform on Monday. Japan deeply concerned over the increasing threat to the ships navigating in the Gulf understands the circumstances that have led the United States government to take these measures the Foreign Ministry said in a statement. The statement ... | JAPAN UNDERSTANDS U.S. ATTACK ON IRAN OIL PLATFORM |
Tokyo stock index ends morning trade 1,873.80 points down at 23,872.76 | |
World oil prices would remain stable despite the U.S. Attack against Iranian oil platforms and growing tension in the Gulf Venezuelan Energy Minister Arturo Hernandez Grisanti said on Monday. He described the situation as extremely tense but said Gulf military activity would not significantly affect prices because supp... | VENEZUELA SEES FLAT OIL PRICE DESPITE U.S. ATTACK |
Canon Inc <CANN.T> said it will stop making Japanese language word processors with retail prices below 50000 yen and consign production instead to <Kyushu Matsushita Electronic Co Ltd> a 51.75-pct owned unit of Matsushita Electric Industrial Co Ltd <MC.T>. A Canon spokesman said the move reflects intense price... | CANON STOPS PRODUCTION OF LOW-END WORD PROCESSORS |
Japan to take wait-and-see stance on Tokyo stock movement, senior official | |
If the dollar goes the way of Wall Street Japanese will finally move out of dollar investments in a serious way Japan investment managers say. The Japanese the dominant foreign investors in U.S. Dollar securities have already sold U.S. Equities. But if the dollar falls steeply which did not happen yesterday Japanese in... | IF DOLLAR FOLLOWS WALL STREET JAPANESE WILL DIVEST |
NEC Corp <NIPN.T> will supply <Matra-Harris Semiconducteurs SA(A)> (MHS) of France with manufacturing technology for 16-bit microchips used in microcomputers an NEC spokesman said. MHS a joint venture between Frances MATRA <MATR.PA> and Harris Corp <HRS> of the U.S. Will manufacture and market globally a mi... | NEC TO SUPPLY CHIP TECHNOLOGY TO FRANCE |
The Finance Ministry will take a wait-and-see stance on Tokyo Stock Exchange movement although it is gravely concerned about the sharp fall in stock prices a senior Ministry official said. The official who declined to be identified told reporters the 7.3 pct drop in Tokyo stock prices this morning was caused primarily ... | JAPAN TAKES WAIT-AND-SEE STANCE ON STOCKS-OFFICIAL |
The outlook for Mexicos economy and stockmarket remains optimistic despite the markets worst-ever fall of 52671.56 points on Monday the president of the Mexican stock exchange Manuel Somoza said. He said the 16.51 pct drop in the exchanges index reflected a totally emotional reaction to Mondays fall on the New York sto... | MEXICAN STOCKMARKET HEAD SEES NO CRISIS AFTER FALL |
Asian cocoa producers are expanding output despite depressed world prices and they dismiss suggestions in the London market that their cocoa is inferior. Leading cocoa producers are trying to protect their market from our product said a spokesman for Indonesias directorate general of plantations. Were happy about our l... | ASIAN COCOA PRODUCERS EXPAND DESPITE CRITICS |
Tokyo stock index down 2,210.19 points to 23,536.37 in early afternoon | |
Japanese Prime Minister Yasuhiro Nakasone was quoted by Kyodo News Service as saying he was watching the stock market situation. We must watch things a little longer. New York is down 22 pct London 10 pct while compared to this Japan is seven pct down Kyodo quoted him as telling reporters. Asked if he agreed with analy... | JAPANESE PREMIER SAYS HE WATCHING STOCK SITUATION |
Malaysias national oil company Petronas has advised the government to raise crude oil output to 540000 barrels a day (bpd) in 1988 from a current 500000 bpd a senior company official said. We have the capacity to produce the amount Rastam Hadi Petronass Vice-President for Upstream Sector said. The government will annou... | MALAYSIA ADVISED TO RAISE CRUDE OIL OUTPUT IN 1988 |
Sumita welcomes U.S.-West German joint confirmation of Louvre accord | |
Tokyo stock index slumps 14.9 pct to close at 21,910.08 | |
Sumita says world stockmarkets excessively concerned about economic future | |
Bank of Japan governor Satoshi Sumita said he welcomed Mondays U.S. And West German joint confirmation of their commitment to the Louvre accord. Sumita said in a statement that world stockmarkets were excessively concerned about the economic future. The Bank of Japan will continue to adhere to a system of policy coordi... | SUMITA WELCOMES U.S.-JAPAN AGREEMENT ON LOUVRE |
The Reserve Bank of New Zealand said there was no evidence to suggest the fall in share prices had affected financial stability and it would maintain its firm monetary policy. Governor Spencer Russell said in a statement the central bank did not accept arguments that the battle against inflation should now take a low s... | NEW ZEALAND WILL CONTINUE FIRM MONETARY POLICY |
Tokyo Stock Exchange has no plan to suspend trading on Wednesday-president | |
Tokyo Stock Exchange to ease margin requirements, exchange president says | |
Japan September M-2 plus CD money supply rises 11.1 pct year on year (Aug 11.0) | |
BAKER HEADS HOME AFTER CUTTING SHORT EUROPE TRIP - SWEDISH FINANCE MINISTRY | |
Tanzania has arranged to sell 53000 tonnes of maize to Malawi Mozambique and Zaire radio Tanzania said. The radio said the grain would be delivered soon but gave no details about the value of the sales. Tanzania is expecting a record maize harvest of 2.3 mln tonnes in the 1987/88 financial year ending June up from a bu... | TANZANIA SELLS MAIZE TO MALAWI, MOZAMBIQUE, ZAIRE |
About 60000 tonnes of harvested raw cotton may be spoiled by rain in Tanzanias northern Shinyanga region because it is stored in the open or in crude village sheds radio Tanzania reported. The cotton worth one billion shillings cannot be moved to ginneries in the region because most mill warehouses are full. Many mills... | TANZANIAN COTTON THREATENED BY LACK OF STORAGE |
Tokyo Stock Exchange president Michio Takeuchi said the exchange has no immediate plans to suspend trading to cool off panic stock selling. However he said Tokyo may consider such a measure if the London and New York exchanges are closed overnight. I dont think it will happen he added. He also told reporters the exchan... | TOKYO STOCK EXCHANGE WILL NOT SUSPEND TRADING |
President Corazon Aquino said the Philippines was closely monitoring interest rates in the wake of Mondays record drop on Wall Street and steep declines in Manila and other Asian stock markets. We will monitor these developments closely and will continue to hope that they do not precipitate large declines in economic a... | AQUINO SAYS MANILA WATCHING INTEREST RATES CLOSELY |
Nissan Motor Co Ltd <NSAN.T> said it has started to market a remodelled version of its four wheel drive (4WD) Safari vehicle in Japan. Nissan said in a statement it hopes to sell 250 vehicles a month in Japan. It also plans soon to start exporting 3400 vehicles a month to the Australian Middle East and Asian markets... | NISSAN STARTS TO MARKET REMODELLED 4WD VEHICLES |
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