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The Bank of England said it forecast a shortage of around 250 mln stg in the money market today. Among the factors affecting liquidity it said bills maturing in official hands and the treasury bill take-up would drain around 1.02 billion stg while below target bankers balances would take out a further 140 mln. Against ... | U.K. MONEY MARKET SHORTAGE FORECAST AT 250 MLN STG |
The Bank of France said it invited offers of first category paper today for a money market intervention tender. Money market dealers said conditions seemed right for the Bank to cut its intervention rate at the tender by a quarter percentage point to 7-3/4 pct from eight reflecting an easing in call money rate last wee... | BANK OF FRANCE SETS MONEY MARKET TENDER |
The U.S. <Amoco Petroleum Corp> has reported an offshore oil find at its Pearl River basin concession in the South China Sea the New China News Agency said. It said the Liu Hua 11-1-1 A well produced at around 2240 barrels per day at a depth of 305 metres. The news agency said Amoco plans to drill a second well in t... | AMOCO REPORTS SOUTH CHINA SEA OIL FIND |
Technology transfer problems have delayed the finalising of contracts between South Koreas state-owned Korea Electric Power Corp (Kepco) and U.S. Firms for supplies of equipment and services for Kepcos latest two 950-megawatt nuclear power plants a Kepco spokesman said. He told Reuters the contracts for Kepcos tenth an... | SOUTH KOREA DELAYS CONTRACT FOR NUCLEAR PLANTS |
Keiaisha Co Ltd of Tokyo is issuing 12 mln Swiss francs of straight notes due March 26 1992 with a 4-5/8 pct coupon lead manager Gotthard Bank said. The notes can be called from September 26 1989 at 101-1/4 declining semi-annually. The issue is guaranteed by the Kyowa Bank Ltd. REUTER | KEIAISHA ISSUING 12 MLN SWISS FRANC NOTES |
NATIONAL WESTMINSTER BANK SAYS IT CUTTING BASE LENDING RATE TO 10.5 PCT FROM 11 PCT. | |
National Westminster Bank Plc said it has cut its base lending rate 0.5 percentage points to 10.5 pct today. National Westminster said that it was responding to general easing in money market rates. Its move followed a signal from the Bank of England earlier this afternoon that it would endorse a half point cut in the ... | NATIONAL WESTMINSTER BANK CUTS BASE RATE |
Semi-annual dividend 4 cts Pay May 29 Record April 14 Note: full name is U.S. Facilities Corp. This is first dividend declared since company completed its initial public offering on November 7. Reuter | U.S. FACILITIES <USRE> SEMI-ANNUAL DIVIDEND |
Standard Pacific LP said it has acquired substantially all of the assets and liabilities of South Bay Savings and Loan Association of Newport Beach. The firm said over the weekend that it will conduct its savings and loan activities through Standard Pacific Savings FA a Federal stock association. On Friday the Federal ... | STANDARD PACIFIC <SPF> ACQUIRES SOUTH BAY S/L |
The Treasury Department said it would temporarily permit imports of South African uranium ore and oxide pending clarification of anti-apartheid sanctions laws passed by Congress last fall. The decision was announced late Friday. It applies until July 1 to uranium ore and oxide imported into the U.S. for processing and ... | U.S. TO ALLOW TEMPORARY IMPORTS OF S.A. URANIUM |
The special prosecutor in the Iran arms scandal is expected to bring indictments that could include felony charges against senior Reagan administration officials the New York Times reported. It quoted law enforcement officials with knowledge of the investigation as saying special prosecutor Lawrence Walsh who is invest... | PAPER SAYS INDICTMENTS IN IRAN CASE EXPECTED |
An existing New York Stock Exchange NYSE rule might be used to limit the trading activities of its members in London in stocks listed on both exchanges sources at the London Exchange said. This could arise if the London Stock Exchange goes ahead with plans to close its trading floor. The London Exchange sources were co... | NYSE RULE COULD AFFECT TRADING IN LONDON |
USAir Group Inc said Piedmont Aviation Inc has agreed to be acquired for 69 dlrs per share. The company in a newspaper advertisement said it has started a tender offer for all Piedmont shares at that price and the Piedmont board with two directors absent has unanimously approved the bid. The offer and withdrawal rights... | PIEDMONT <PIE> AGREES TO USAIR <U> BUYOUT |
Senior U.S. Arms control officials said they were optimistic the United States and Soviet Union could reach agreement on ways to verify a pact to eliminate medium-range nuclear missiles in Europe. Chief U.S. Arms control negotiator Max Kampelman said on the NBC television network a fair pact would be hard to negotiate ... | U.S. AIDES SEE MOSCOW AGREEING TO ARMS CHECK PACT |
Estimated oil and gas drilling completions in the United States dropped by almost 41 per cent in 1986 from 1985 the American Petroleum Institute said. API an industry group said that of the 42387 wells completed last year a total of 19741 were oil wells 8645 were natural gas wells and 14001 were dry holes. In 1985 a to... | API REPORTS SHARP FALL IN DRILLINGS |
New credit advanced by finance houses retailers bank credit cards and other specialist providers of credit slipped to 2.66 billion stg in January from 2.78 billion in December - but remained close to the average level for 1986s fourth quarter the Department of Trade and Industry said. Of the January total 1.15 billion ... | U.K. CREDIT BUSINESS FALLS IN JANUARY |
A strike by Brazils 40000 seafarers who want pay rises of up to 180 pct may have cost the state-owned oil company Petrobras 20 mln dlrs in lost export orders the companys commercial director Arthur de Carvalho was quoted as saying in press reports. More than 170 ships in Brazil and about nine more in foreign ports have... | BRAZILIAN SEAFARERS' STRIKE DAMAGES OIL EXPORTS |
NEC Corps NEC Informational Systems Inc said it introduced three advanced personal computers that are fully compatible with the International Business Machines Corp <IBM> PC AT. The computers the PowerMate 1 PowerMate 2 and BusinessMate are based on a chip made by Intel Corp <INTC>. The PowerMate 1 and 2 are avai... | NEC <NIPNY> UNIT INTRODUCES NEW COMPUTERS |
The 24 nations of the Organisation for Economic Cooperation and Development (OECD) hampered by sluggish industrial output and trade face slower economic growth and their joint balance of payments will swing into deficit in 1987 the Economist Intelligence Unit (EIU ) said. The EIU said in its World Trade Forecast it rev... | OECD TRADE, GROWTH SEEN SLOWING IN 1987 |
Bundesbank president Karl Otto Poehl told a closed investment symposium that West Germany could cut leading interest rates again if the United States makes a similar move banking sources said. The sources were reporting Poehls remarks at a symposium in Duesseldorf last week organised by Deutsche Bank Ag. Press represen... | POEHL SAYS FURTHER RATE CUT POSSIBLE - SOURCES |
Plessey Co Plc <PLY.L> said it had won a multi-million stg contract to supply Colombia with the System X digital telephone exchange the first major export contract for the system. Company sources said the deal was worth about 15 mln stg. v A Plessey statement said the contract awarded by the National Telecommunicati... | PLESSEY TO SELL TELEPHONE SYSTEM TO COLOMBIA |
The 20.3 billion dlr debt rescheduling accord Venezuela signed a week ago will reduce its payments over the next three years by 64 pct according to Finance Ministry figures released this weekend. A ministry statistical analysis said while the original accord called for payments of 3.82 billion dlrs between 1987 and 198... | VENEZUELA REVEALS DEBT PAYMENT SCHEDULE DETAILS |
<MTS Acquisition Corp> a company formed by Martin T. Sosnoff said it has started a tender offer for all shares of Caesars World Inc at 28 dlrs each. In a newspaper advertisement MTS said the offer and withdrawal rights expire April Three unless extended. Sosnoff a New York investor already owns about four mln of Cae... | SOSNOFF STARTS BID FOR CAESARS WORLD <CAW> |
Dutch economic growth is slowing as a firming guilder cuts competitiveness abroad and industries reduce the pace of investment the Dutch official planning agency CPB said. The Centraal Planbureau publishing its 1987 economic outlook said Dutch Net National Income (NNI) was expected to grow by one pct this year down fro... | DUTCH PLANNING AGENCY FORECASTS LOWER GROWTH |
Casino owner and real estate developer Donald Trump has offered to acquire all Class B common shares of Resorts International Inc a spokesman for Trump said. The estate of late Resorts chairman James M. Crosby owns 340783 of the 752297 Class B shares. Resorts also has about 6432000 Class A common shares outstanding. Ea... | TRUMP MAKES BID FOR CONTROL OF RESORTS <RTB> |
Iomega Corp said it has laid off over a quarter of its professional and management staff and nearly half of its direct labor force as part of a restructuring and downsizing of its business. The company also said it will receive a qualified opinion from the auditors of it 1986 financial statement subject to the outcome ... | IOMEGA <IOMG> SETS MANAGEMENT, LABOR LAYOFFS |
Ground-breaking new systems for storing and retrieving information are ushering in a new era for computer companies and computer users. Within the past few weeks International Business Machines Corp <IBM> Eastman Kodak Co <EK> and others have launched products that radically increase the amount of data that can b... | TECHNOLOGY/NEW ERA FOR INFORMATION HANDLING |
Hundreds of marines were on alert at 11 key Brazilian ports after 40000 seamen decided to remain on indefinite strike even after the Higher Labour Court Saturday ruled it illegal union leaders said. The halt the first national strike by seamen in 25 years started on February 27 and union leaders said they would not ret... | BRAZIL SEAMEN CONTINUE STRIKE DESPITE COURT |
The American Bankers Association said the profitability of the nations commercial banks declined by 12 pct during the first three quarters of 1986. During the first nine months of last year the industrys annualized rate of return on assets dropped to 0.68 pct from 0.77 pct in the same period in 1985 the ABA said. Retur... | BANKING TRADE GROUP SAYS BANK PROFITS DOWN |
The American Paper Institute said the industry is headed for another year of record volume in 1987 with linerboard particularly strong. A pro-growth trade policy continued attention to currency management a fairly low interest rate climate and no major tax increases are the essential ingredients in this outlook Red Cav... | PAPER INSTITUTE SEES STRONG PAPER MARKET IN '87 |
West Germany takes very seriously the recent undertaking by major industrial countries to promote exchange rate stability around current levels Finance Ministry State Secretary Hans Tietmeyer said. Talking to journalists before a meeting of European Community Economy and Finance Ministers here Tietmeyer declined to say... | BONN SERIOUS ABOUT CURRENCY PACT, SAYS TIETMEYER |
<Al Bank Al Saudi Al Fransi> also known as Saudi-French will double paid-up capital to 400 mln riyals from 200 mln by converting reserves into equity bank officials said. Jeddah-based Saudi-French 40 pct owned by Banque Indosuez and 60 pct by the Saudi public will sign a technical services agreement with Indosuez in... | SAUDI-FRENCH BANK TO DOUBLE PAID-UP CAPITAL |
Compaq Computer Corp said it has introduced a new 12 megahertz desktop personal computer called the Compaq Deskpro 286R. More | COMPAQ COMPUTER <CPQ> HAS NEW DESKTOP COMPUTER |
Uganda Africas second largest coffee producer was disappointed by the stalemate in recent coffee talks in London the chairman of the state-run Coffee Marketing Board CMB said. This has not been good for coffee producers more so in a situation where the prices dropped by 200 pounds per tonne of robusta coffee J. Makumbi... | UGANDA DISAPPOINTED BY COFFEE TALKS FAILURE |
Chrysler to take over Renault stake in American Motors, says Renault | |
The Commodity Credit Corporation CCC has authorized an additional 8.0 mln dlrs in credit guarantees for sales of vegetable protein meals to Hungary for fiscal year 1987 the U.S. Agriculture Department said. The additional guarantees increase the vegetable protein meal credit line to 16.0 mln dlrs and increases the cumu... | ADDITIONAL CCC CREDIT GUARANTEES FOR HUNGARY |
SOUTHERN CO TO TAKE 226 MLN DLR CHARGE ON PROJECTED VOGTLE COST RISE | |
Applied Circuit Technology Inc (ACT) said it has agreed in principal to sell its primary computer electronics business to the <Sanpao Group> of San Francisco. ACT said it has not disclosed the deals terms but added that 50 pct of the sale price is in cash with the remainder to be paid over a two year period. The dea... | APPLIED CIRCUIT<ACRT> SELLS ELECTRONICS BUSINESS |
USAir Group Inc said it has acquired 2292599 Piedmont Aviation Inc shares about 9.9 pct on a fully diluted basis from Norfolk Southern Corp <NSC>. The acquisition of Piedmont by USAir has been approved by the directors of both companies. USAir said it has been advised by Norfolk Southern that the company supports th... | USAIR <U> ACQUIRES 9.9 PCT OF PIEDMONT <PIE> |
THE FOLLOWING RAINFALL WAS RECORDED IN THE AREAS OVER PAST 72 HOURS PARANA STATE: UMUARAMA NIL PARANAVAI 1.5 MILLIMETRES LONDRINA NIL MARINGA NIL. SAO PAULO STATE: PRESIDENTE PRUDENTE O.6 MM VOTUPORANGA 12.0 MM FRANCA 28.0 MM CATANDUVA 10.0 MM SAO CARLOS NIL SAO SIMAO NIL. REUTER11:43/VB | BRAZILIAN COFFEE RAINFALL |
GENCORP TO SELL LOS ANGELES TELEVISION STATION TO WALT DISNEY CO | |
Nationwide Cellular Service Inc said it has completed the previously-announced acquisition of privately-held Nova Cellular Co a Chicago reseller of mobile telephone service with 1800 subscribers for about 65000 common shares. Nova Cellular has an accumulated deficit of about 650000 dlrs and had revenues of about 260000... | NATIONWIDE CELLULAR <NCEL> COMPLETES PURCHASE |
National Westminster Bank Plc said it has cut its base lending rate 0.5 percentage points to 10.5 pct today. National Westminster said it was responding to general easing in money market rates. Its move followed a signal from the Bank of England earlier this afternoon that it would endorse a half point cut in the base ... | NATIONAL WESTMINSTER BANK CUTS BASE RATE |
The Bank of England said it provided the market with further assistance during the afternoon buying bills worth 166 mln stg at the lower rates introduced this morning. It bought 45 mln stg of local authority bills plus 27 mln stg of bank bills in band one at 10-3/8 pct together with 94 mln stg of band two bank bills at... | U.K. MONEY MARKET GIVEN FURTHER HELP AT NEW RATES |
The heads of the Chicago Board of Trade CBT and the Chicago Mercantile Exchange CME are to address a meeting of the Commodity Futures Trading Commissions financial products advisory committee March 11 in Chicago CFTC said. CBT Chairman Karsten Mahlmann will present the objectives and views of the CBTs ad hoc committee ... | CBT, CME HEADS TO ADDRESS CFTC COMMITTEE |
Container port operator <Hong Kong International Terminals Ltd> a 89 pct held unit of Hutchison Whampoa Ltd <HWHH.HK> said it has placed a 164 mln H.K. Dlr order for seven quayside container cranes of 800 tons each with Japans Mitsui Engineering and Shipbuilding Co Ltd <MSET.T> for May 1988 to August 1989 deli... | HUTCHISON UNIT BUYS CONTAINER CRANES FROM JAPAN |
Istanbul remained at a virtual standstill today under snow up to a meter deep but shipping was moving through the narrow Bosphorus waterway linking the Sea of Marmara and the Black Sea officials said. The authorities ordered government offices closed until Wednesday. Many banks businesses and schools stayed shut as wor... | BOSPHORUS SHIPPING MOVES, ISTANBUL OFFICES CLOSE |
The suspension of Ecuadors crude oil shipments after an earthquake cut an oil pipeline will last at least four months a senior Energy Ministry official said. The official said Ecuador could resume exports after repairing a 40 km section of the 510 km pipeline which links jungle oil fields at Lago Agrio to Balao on the ... | ECUADOR TO EXPORT NO OIL FOR 4 MONTHS, OFFICIAL |
FRENCH JAN M-3 MONEY SUPPLY ROSE PROV ADJUSTED ONE PCT (O.7 PCT FALL IN DEC) - OFFICIAL. | |
Blizzards lashed Greece today piling up to 10 feet of snow in places and paralyzing transport in what state radio called unprecedented weather conditions for this time of year. Except for a handful of flights of the national airline Olympic Airways that took off before the blizzards started all air traffic in and out o... | HEAVY SNOWS HIT GREECE, ITALY |
Malaysia said the success of talks opening today on a new International Natural Rubber Agreement (INRA) depends on how flexible consumer countries are. Rubber producer and consumer countries meet for 12 days in Geneva from tomorrow to try to hammer out a rubber pact after they failed to reach agreement last November to... | MALAYSIA SAYS RUBBER PACT DEPENDS ON CONSUMERS |
Pharmacia AB said it was launching a 200 mln dlr Eurocommercial paper programme as part of a move to internationalise the companys financing. Market makers will be Credit Suisse First Boston Morgan Stanley International and Svenska Handelsbanken PLC. Pharmacia treasurer Bertil Tiusanen said gaining direct access to the... | PHARMACIA AB LAUNCHES EUROCOMMERCIAL PAPER PROGRAMME |
McDowell Enterprises Inc said it has signed a definitive agreement to acquire an 80 pct interest in privately held Interpharm Inc for a 19.9 pct interest in McDowell. The company said subject to contigencies including future sales and profit levels McDowell could over a four-year period acquire 100 pct of Interpharm in... | MCDOWELL <ME> TO MERGER WITH <INTERPHARM INC> |
The Federal Home Mortgage Corp announced the sale of 400 mln dlrs for residential mortgages to First Union Corps mortgage subsidiary. Freddie Mac said that First Union Mortgage Corp already swapped 70 mln dlrs of new residential mortgages to Freddie Mac in the first phase of the contract. Freddie Mac said buy selling 4... | FEDERAL HOME MORTAGE BUYS FUNDS FROM LENDER |
British Caledonian Airways said it has filed an application with the British Civil Aviation Authority for a license to operate between San Diegos Lindbergh Field and Londons Gatwick Airport. It said it would extend its existing Los Angeles/London nonstop service to San Diego and would initially offer three roundtrips w... | BRITISH CALEDONIAN SEEKS SAN DIEGO SERVICE |
Regie Nationale des Usines Renault <RENA.PA> said it and Chrysler Corp <C> have signed a letter of intent in which Chrysler plans to buy American Motors Corp <AMO.N> 46 pct owned by Renault. Renault President Raymond Levy said in a statement issued by the French state car group the agreement was an important s... | RENAULT, CHRYSLER IN ACCORD FOR CHRYSLER TO BUY AMC |
Chicago Mercantile Exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 285000 to 300000 head versus 292000 week ago and 309000 a year ago. Cattle slaughter is guesstimated at about 125000 to 131000 head versus 129000 week ago and 119000 a year ago. Reuter | HOG AND CATTLE SLAUGHTER GUESSTIMATES |
British retailer Burton Group PLC said trading in its American Depositary Receipts will start today. Each ADR represents four Burton shares. Reuter | <BURTON GROUP PLC> TO TRADE ADR'S IN U.S. |
Claires Stores Inc said February sales were up 46 pct to 6360000 dlrs from 4350000 dlrs a year before with same-store sales up 16 pct. The company said March sales may not increase at the sdame rate since Easter falls late in April this year but earnings and sales for the first quarter should be up significantly from a... | CLAIRE'S STORES <CLE> FEBRUARY SALES RISE |
Bank of France said it cut money market intervention rate to 7-3/4 pct from eight pct | |
FIRST BOSTON AFFILIATE TO ACQUIRE ALLEGHENY INT'L FOR 24.60 DLRS/SHR | |
Southern Co said it will take an after-tax charge of 226 mln dlrs against earnings no later than January 1988 because the projected cost of the Vogtle nuclear power plant has risen abover the amount which retail customers in Georgia will be asked to pay. The companys largest subsidiary Georgia Power Co said the budget ... | SOUTHERN <SO> TO TAKE CHARGE ON VOGTLE COST |
Swedens Stora Kopparbergs Bergslags AB <SKPS ST> said it had now acquired 90 pct of shares in rival pulp and paper makers Papyrus AB thus passing the threshold above which it can compulsorily buy the rest of the company. Remaining shareholders would have until later this month to sell their shares to Stora the compa... | STORA CLOSE TO COMPLETING PAPYRUS TAKEOVER |
Export-Import Bank of Japan president Takashi Tanaka told Brazil the bank will continue to cooperate with it but he refrained from making any commitment to a new credit Ex-Im officials said. In a 30-minute meeting Tanaka told Brazilian Finance Minister Dilson Funaro the bank would consider his countrys request for a 30... | JAPAN EX-IM BANK SAYS NO NEW COMMITMENTS TO BRAZIL |
The 24 nations of the Organisation for Economic Cooperation and Development (OECD) hampered by sluggish industrial output and trade face slower economic growth and their joint balance of payments will swing into deficit in 1987 the Economist Intelligence Unit (EIU ) said. The EIU said in its World Trade Forecast it rev... | OECD TRADE, GROWTH SEEN SLOWING IN 1987 |
Pharmacia AB said it was launching a 200 mln dlr Eurocommercial paper programme as part of a move to internationalise the companys financing. Market makers will be Credit Suisse First Boston Morgan Stanley International and Svenska Handelsbanken PLC. Pharmacia treasurer Bertil Tiusanen said gaining direct access to the... | PHARMACIA AB LAUNCHES EUROCOMMERCIAL PAPER PROGRAMME |
The Bank of England said it provided the market with unspecified late assistance worth 15 mln stg. It has given the market total assistance of 228 mln stg today compared with a liquidity shortage it estimated at a revised 300 mln stg. REUTER | U.K. MONEY MARKET GIVEN LATE HELP WORTH 15 MLN STG |
The Bank of France said it cut its money market intervention rate to 7-3/4 pct from eight pct when it injected money against first category paper. The bank also cut its seven-day repossession rate to 8-1/2 pct from 8-3/4 pct. The intervention rate has stood at eight pct since it was raised from 7-1/4 pct on January 2 a... | BANK OF FRANCE CUTS INTERVENTION RATE |
White Engine a manufacturer of industrial and automotive diesel and gasoline engines with more than 100 mln dlrs in sales said it has been sold to a group of group investors. White Engine said the purchase is led by Donald Stewart a private investment banker along with White senior executives. A source close to the tra... | WHITE ENGINE BOUGHT BY PRIVATE INVESTOR |
Most commodity agreements are close to collapse and the debt problem continues to weigh heavily on developing countries Bangladesh Commerce Minister M.A. Munim told officials from 30 Asian countries in the Group of 77. The officials are meeting to finalise the agenda for the groups regional ministerial conference here ... | GROUP-77 OFFICIALS SET AGENDA FOR DHAKA MEETING |
Swedens Stora Kopparbergs Bergslags AB <SKPS.ST> said it has now acquired 90 pct of shares in rival pulp and paper makers Papyrus AB thus passing the threshold above which it can compulsorily buy the rest of the company. Remaining shareholders would have until later this month to sell their shares to Stora the compa... | STORA CLOSE TO COMPLETING PAPYRUS TAKEOVER |
Allegheny International Inc said it has entered into an agreement to merge with an affiliate of First Boston Incs <FPC> First Boston Corp in a transaction valued at about 500 mln dlrs. Allegheny said the agreement calls for holders of its common to receive 24.60 dlrs a share. Holders of the companys 2.19 dlrs cumula... | ALLEGHENY INT'L <AG>, FIRST BOSTON SET MERGER |
French money supply measured in terms of M-3 rose a provisional one pct in January after falling 0.7 pct in December the Bank of France said. M-3 is the main money supply aggregate used by the French monetary authorities. It has been joined as a second main money supply aggregate for 1987 by M-2 which rose a provisiona... | FRENCH JANUARY M-3 MONEY SUPPLY RISES ONE PCT |
CHRYSLER SAYS AMC HOLDERS TO GET CHRYSLER STOCK WORTH FOUR DLRS A SHARE UNDER BUYOUT PLAN | |
Genex Corp said it has completed an agreement for Eberstadt Fleming Venture Capitals Plant Resources Venture Fund II and Morgenthaler Venture Partners II and accounts managed by Citicorp <CCI> to provide it with a four mln dlr interim credit line. It said the Eberstadt venture capital funds and the Citicorp accounts... | GENEX CORP <GNEX> GETS FINANCING |
The Turkish Central Bank set a Lira/Dollar rate for March 10 of 773.05/776.92 to the Dollar down from the previous 769.60/773.45. The Bank also set a Lira/Mark rate of 417.20/419.29 to the Mark up from the previous 419.15/421.25. | TURKISH CENTRAL BANK SETS LIRA/DOLLAR, DM RATES |
Continental Bank of Canada a subsidiary of Lloyds Bank PLC <LLOY.L> said it intends to redeem all existing preferred shares and distribute a stock dividend to common shareholders. The initial distribution will be in cumulative redeemable retractable floating rate class A preferred shares series II which will carry a... | CONTINENTAL BANK/CANADA SETS DISTRIBUTION |
A free trade pact between the United States and Canada could spur the economies of both sides substantially according to a study released by the Institute for International Economics. The study by Paul Wonnacott said a successful conclusion to the free trade talks now under way could raise Canadas gross national produc... | STUDY SAYS U.S., CANADA PACT WOULD SPUR ECONOMIES |
The heads of the Chicago Board of Trade CBT and the Chicago Mercantile Exchange CME are to address a meeting of the Commodity Futures Trading Commissions financial products advisory committee March 11 in Chicago CFTC said. CBT Chairman Karsten Mahlmann will present the objectives and views of the CBTs ad hoc committee ... | CBT, CME HEADS TO ADDRESS CFTC COMMITTEE |
Gulf Resources and Chemical Corp said it has sold 9534633 shares of <Imperial Continental Gas Association> for 720 pence a share or 68.6 mln stg in a private transaction for a pretax gain of about 19.6 mln dlrs. Gulf Resources said it still owns 6.7 mln shares of Imperial Continental or a 4.6 pct interest and contin... | GULF RESOURCES <GRE> TO HAVE GAIN ON STOCK SALE |
A Stockholm court today appointed a bailiff to find the founder of troubled Swedish biotech group Fermenta AB <FRMS.ST> who is being sued for 30 million crowns by a disgruntled shareholder. The court heard that Refaat el-Sayed sacked from the Fermenta board after losing his principal shareholding to creditors had fa... | BAILIFF APPOINTED TO SEEK OUT FERMENTA FOUNDER |
Graan Elevator Mij said its balance in port of grains oilseeds and derivatives rose to 136000 tonnes on March 7 from 31000 a week earlier after arrivals of 523000 tonnes and discharges of 418000 tonnes last week. The balance comprised 38000 tonnes of grains and oilseeds and 98000 tonnes of derivatives. This weeks estim... | ROTTERDAM GRAIN HANDLER SAYS PORT BALANCE ROSE |
DONALD TRUMP SAID HE HAS AGREED TO PURCHASE CROSBY ESTATE'S RESORTS SHARES | |
Three London markets which trade potato soymeal and meat futures said they will merge to form a new Agricultural Futures Exchange. Legal advisers have been instructed to implement the amalgamation of the London Potato Futures Association LPFA the London Meat Futures Exchange LMFE and the Grain and Feed Trade Associatio... | U.K. AGRICULTURAL FUTURES MARKETS TO MERGE |
BSN Corp said its agreement to sell 1750000 new common shares or a 25 pct interest to 31 unaffiliated European institutional investors for 30.4 mln dlrs has become definitive. The company said closing is expected shortly after the filing of a registration statement with the Securities and Exchange Commission which is e... | BSN <BSN> SHARE SALE ADVANCES |
Gencorp said its RKO General subsidiary agreed to sell KHJ-TV in Los Angeles to Walt Disney Co <DIS> for 217 mln dlrs cash plus working capital and other adjustments at closing. The company said under the agreement in principle RKOs application to renew the stations broadcast license would be dismissed and the compe... | GENCORP<GY> UNIT TO SELL LOS ANGELES TV STATION |
BARCLAYS BANK SAID IT CUTTING BASE LENDING RATE TO 10.5 PCT FROM 11 PCT. | |
MIDLAND BANK SAID IT CUTTING ITS BASE RATE TO 10.5 PCT FROM 11 PCT. | |
Imatron Inc said Mitsui and Co Ltd of Japan has purchased a two mln dlr equity interest in Imatron at market price and was granted a 120-day option to make another two mln dlr investment at the same price. Imatron said Mitsui the exclusive importer of Imatrons Ultrafast computed tomography scanners into Japan is schedu... | IMATRON <IMAT> SELLS STAKE TO MITSUI <MITSY> |
Morocco buoyed by an economic turnaround and last weeks Paris Club debt rescheduling is likely to obtain over 100 mln dlrs worth of development aid at a meeting with donors beginning here tomorrow John Shilling director of the World Banks Moroccan division said. A certain optimism has appeared in the economy to the eff... | MOROCCO LIKELY TO GET OVER 100 MLN DLRS IN AID |
A. H. Robins Co the drug company in bankruptcy proceedings due to litigation over its Dalkon Shield contraceptive device reported consolidated net earnings for the month ended January 31 of 17.3 mln dlrs. In the corresponding year-ago period it reported net earnings of 13.8 mln dlrs. Robins said the filings were made w... | A.H. ROBINS'S <QRAH> JANUARY EARNINGS UP |
Barclays Bank Plc <BCS.L> and Midland Bank Plc <MDBL.L> said they are cutting their base lending rates to 10.5 pct from 11 pct. The cuts follow a similar move by National Westminster Bank Plc <NWBL.L> The rate changes take effect tomorrow. REUTER | BARCLAYS, MIDLAND FOLLOW NATWEST BASE RATE CUT |
Control Data Corp said it agreed to acquire Unisys Incs <UIS> 13 pct stake in <Magnetic Peripherals Inc>. The letter of intent provides that Unisys converts from an owner in Magnetic Peripherals to a customer of Control Datas data storage products group over a two year period. Under the agreement Control Data wil... | CONTROL DATA <CDA> TO BUY PERIPHERALS STAKE |
Casino hotel operator and real estate developer Donald Trump said he has agreed to purchase the Class B common stock of Resorts International Inc held by the family and estate of late Resorts chairman James Crosby for 135 dlrs per share. Trump said he is also considering a tender offer for remaining Class B shares at t... | DONALD TRUMP TO BUY CROSBY RESORTS <RTB> STOCK |
USAir Group Inc said a U.S. District Court in Pittsburgh issued a temporary restraining order to prevent Trans World Airlines Inc from buying additional USAir shares. USAir said the order was issued in response to its suit charging TWA chairman Carl Icahn and TWA violated federal laws and made misleading statements. TW... | USAIR <U> WINS COURT ORDER AGAINST TWA <TWA> |
Grease Monkey Holding Corp said it has received and rejected an unsolicited merger offer from Jiffy Lube International Inc <LUBE>. The company said the proposal involved an exchange of Grease Monkey common stock for a combination of Jiffy Lube securities with an estimated current value substantially below Grease Mon... | GREASE MONKEY <GMHC> GETS, REJECTS MERGER OFFER |
The Supreme Court declined to hear an appeal by U.S. West Inc <USW> challenging whether a consent decree was legally binding on the seven regional telephone firms created by the breakup of American Telephone and Telegraph Co <T>. The justices without comment let stand a ruling by a U.S. Court of Appeals last Augu... | HIGH COURT DECLINES TO HEAR APPEAL ON ATT CASE |
A decision on final dumping duties on frozen orange juice from Brazil may not be issued until tomorrow Commerce Department officials said. They said the department has until midnight tonight to set the duty but may not make the finding public until tomorrow. A preliminary duty of 8.54 pct was set October 17 1986. The f... | U.S. RULING ON BRAZIL FCOJ MAY COME TOMORROW |
Bank of England says issuing further one billion stg 8-3/4 pct bonds due 1997 | |
Chrysler Corp said it agreed in principle with French state-owned Renault to acquire American Motors Corp. in which Renault is controlling shareholder under a deal in which AMC stockholders other than Renault would receive Chrysler common stock with a market value of four dlrs for each AMC common share they hold. Chrys... | CHRYSLER <C> IN DEAL TO BUY AMC <AMO> |
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