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Frank B. Hall and Co Inc said the superintendent of insurance of New York as liquidator of Union Capital Indemnity Insurance Co of New York has filed a lawsuit against the company Touche Ross and Co a group of Hall units and former officers and directors of Union Indemnity seeking damages of 140 mln dlrs in connection ... | FRANK B. HALL <FBH> SUED BY NY INSURANCE DEPT |
Advanced Tobacco Products Inc said it will make an announcement regarding its stock halt this morning on NASDAQ. The company said lawyers are preparing the release with company officials and should be making the announcement within the hour. The stocks last bid was 3/8 and last ask 1/2. Reuter | ADVANCED TOBACCO <ATPI> TO MAKE ANNOUCEMENT |
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. The base rate reductions came after the Bank of England cut its dealing... | BARCLAYS, MIDLAND FOLLOW NATWEST BASE RATE CUT |
The U.S. Mint said it is seeking offers on 4784000 lbs of special high-grade zinc that it intends to purchase. It said selling offers will be due at 1100 hrs EST March 24. The Mint said two increments of 1300000 lbs each are for delivery the weeks of April 13 and april 20 to Ball Corp Greeneville Tenn. and two incremen... | U.S. MINT SEEKING 4,784,000 LBS ZINC |
Led by the non-residential sector Canadian building permits issued in November rose 0.7 pct to 2.18 billion dlrs seasonally adjusted from 2.16 billion dlrs in October Statistics Canada said. Residential permits fell 3.9 pct to 1.25 billion dlrs from 1.30 billion dlrs in October while the number of units approved fell t... | CANADA BUILDING PERMITS RISE IN NOVEMBER |
Cambridge Medical Technology Corp said pursuant to a letter of intent signed between it and <Panbaxy Laboratories> an AIDS test will be jointly manufactured by the two companies. Cambridge said that before the test may be used for human clinical purposes it must undergo extensive clinical and human testing and recei... | CAMBRIDGE MEDICAL <CMTC> ADDS INFO ON AIDS TEST |
Dixie Yarns Inc and <TI-CARO Inc> jointly said they signed a merger agreement calling for Dixie to acquire all TI-CAROs stock in exchange for three mln of Dixies common. The companies said the previously announced merger has been approved by TI-CAROs board and is expected to close by early April. They said the reven... | DIXIE YARNS <DXYN> TO ACQUIRE TI-CARO INC |
<Ciba-Giegy Corp>s Ciba-Giegy Pharmaceuticals division said it had an agreement with <Gipharmex S.P.A.> (Giuliani Group) of Milan Italy to develop and eventually market in the U.S. a new gallstone dissolving drug. The company said the drug ursodeoxycholic acid is a naturally occurring bile acid and has been appro... | CIBA-GIEGY IN PACT TO MAKE GALLSTONE DISSOLVER |
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 last Oct. 17. The fina... | U.S. HAS TO MIDNIGHT TO SET ORANGE JUICE DUTIES |
The National Weather Service said warnings of gale force winds remained in effect over lakes Erie Huron and Michigan. Also warnings have been posted for large waves and beach erosion along the shores of the Lakes. Winds gusting to 45 mph caused four to six foot waves along the western and southern shores of Lake Michig... | GALE FORCE WINDS BUFFET GREAT LAKES |
The Bank of England said it was taking onto its books a further one billion stg tranche of 8-3/4 pct Treasury Loan stock due 1997 payable 40 stg pct on application. The stock was issued to the Bank at 96.50 stg pct and will be available for dealings from March 11 with the remainder of the amount payable on May 5. The B... | U.K. ISSUES ONE BILLION STG BOND TRANCHE |
President Reagans denial that he knew proceeds from Iran arms sales were diverted to Nicaraguan contra rebels might be challenged by his former national security adviser according to the Washington Post. The paper said yesterday that John Poindexter who resigned last November when the illegal transfer of up to 20 mln d... | PAPER SAYS POINDEXTER MAY LINK REAGAN TO FUNDS |
Italian President Francesco Cossiga asked veteran Christian Democrat politician Giulio Andreotti to try to form a new government officials said. They said Andreotti had reserved his reply on whether to accept the mandate normal procedure until he has ascertained whether he can form a government. Cossiga nominated Andre... | ANDREOTTI ASKED TO FORM GOVERNMENT |
AMC SAYS IT IS "STUDYING" CHRYSLER BUYOUT PROPOSAL AND WILL COMMENT WHEN "APPROPRIATE" | |
Petro-Canada Canadas state-owned oil company said it will drill two delineation wells this summer at the Terra Nova oil field offshore Newfoundland. Evaluation of test results and preliminary engineering work should put Petro-Canada in a position to propose a development plan for the Terra Nova field in 1988 the compan... | PETRO-CANADA TO DRILL TWO TERRA NOVA TEST WELLS |
Kingdom of Sweden is issuing a 100 mln stg bond due April 15 1997 carrying a coupon of 9-1/2 pct and priced at 101-1/4 said Baring Brothers and Co Ltd as lead manager. The issue is payable on April 15 1987. The bond is callable after seven years at 100-1/8 pct and it will be listed on the London Stock Exchange. Fees ar... | KINGDOM OF SWEDEN ISSUES 100 MLN STG BOND |
(Charan Industries Inc) a distributor of toys and other consumer products expects 1987 net profit to rise at least 50 pct over last years 6.1 mln dlrs president Earl Takefman told reporters before the annual meeting. We grew basically 100 pct last year Im not sure were going to be able to grow 100 pct again this year b... | CHARAN SEES AT LEAST 50 PCT RISE IN 1987 PROFIT |
Mayfair Super Markets said its sales for the second qtr ended Feb 28 were 122.0 mln dlrs an increase of more than 15 pct compared to sales of 105.9 mln dlrs in the comparable quarter last year. The company said sales for the first six months of the year were 242.0 mln dlrs more than 15 pct above the 210.1 mln dlrs repo... | MAYFAIR SUPER MARKETS <MYFRA> SALES INCREASED |
Timeplex Inc said it completed its previously-announced redemption of its 7-3/4 pct convertible subordinated debentures due 2008. The company said there had been 35 mln dlrs total principal amount of debentures outstanding. Debenture holders were entitled to convert their debentures into shares of the companys common s... | TIMEPLEX INC <TIX> COMPLETES REDEMPTION |
PPG Industries Inc said a group of investors led by <Sterling Group> of Houston said it has agreed to acquire PPGs ethylene products business including its inteest in an ethylene glycols joint venture with du Pont Co <DD> in Beaumont Texas for undisclosed terms. The company said completion is expected in the seco... | PPG INDUSTRIES <PPG> SELLS ETHYLENE INTERESTS |
The Federal Reserve is expected to intervene in the government securities market to add temporary reserves via customer repurchase agreements economists said. Most economists said the Fed will add 1.5 to two billion dlrs of temporary reserves via customer repurchase agreements but some said there is a slim chance the F... | FED EXPECTED TO ADD TEMPORARY RESERVES |
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. The base rate reductions came after the Bank of England cut its dealing... | BARCLAYS, MIDLAND FOLLOW NATWEST BASE RATE CUT |
Ecology and Environment Inc said an initial public offering of one mln common shares is under way at 15 dlrs a share. The company is selling 919948 shares and shareholders the rest. <Prudential-Bache Securities Inc> is sole underwriter. Reuter | ECOLOGY/ENVIRONMENT <EEI> INITIAL OFFER STARTS |
About 8000 West German farmers marched through the northern city of Kiel today in a protest against European Community (EC) agricultural policies organisers said. The demonstrators burned straw effigies of the two West German members of the ECs 17-man Commission Karl-Heinz Narjes and Alois Pfeiffer and demanded their r... | WEST GERMAN FARMERS MARCH AGAINST EC POLICIES |
UNITED AUTO WORKERS UNION SAYS IT SUPPORTS CHRYSLER-AMC MERGER | |
RLR Financial Services said it will be releasing a statement shortly concerning the company. RLRs stock was halted this morning for news pending by the NASDAQ. Reuter | RLR FINANCIAL SERVICES <RLRF> TO MAKE STATEMENT |
Angola and Uruguay have established diplomatic relations at the ambassadorial level according to a joint communique signed by their U.N. representatives and circulated here today. Reuter | ANGOLA, URUGUAY ESTABLISH DIPLOMATIC RELATIONS |
Lloyds Bank Plc <LLOY.L> said it is cutting its base lending rate to 10.5 pct from 11 pct effective tomorrow. The reduction follows similar moves from the three other British clearing banks. National Westminster Bank Plc <NWBL.L> led the way this morning after the Bank of England lowered its dealing rates in a si... | LLOYDS BANK MATCHES BASE RATE CUT TO 10.5 PCT |
Norcros <NCRO.L> Plc said it has no intention of proceeding any further with talks on Williams Holdings Plcs suggestion that there would be benefits arising from a merger between the two groups. Norcros said any such benefits could be achieved through normal trading and did not warrant a closer formal association. N... | NORCROS BREAKS OFF MERGER TALKS WITH WILLIAMS |
The Burton Group Plc <BRTO.L> said trading will commence in the U.S. In Burton Group American Depositary Receipts (ADRs). Burton said it expected the ADRs to increase significantly the North American demand for Burtons shares. A programme to promote the ADRs with presentations in the U.S. Is due soon. Burton shares ... | BURTON GROUP ADRS START TRADING TODAY |
Lloyds Bank Plc <LLOY.L> said it is cutting its base lending rate to 10.5 pct from 11 pct effective tomorrow. The reduction follows similar moves from the three other British clearing banks. National Westminster Bank Plc <NWBL.L> led the way this morning after the Bank of England lowered its dealing rates in a si... | LLOYDS BANK MATCHES BASE RATE CUT TO 10.5 PCT |
The West German Intervention Board said it accepted 962192 tonnes of grain from the start of the current agricultural year to the end of last month compared with 1.8 mln tonnes during the July/February period in 1985/86. It said it accepted 336097 tonnes of bread wheat (nil in the year-earlier period) 16818 (nil) tonne... | LESS GRAIN FLOWS INTO WEST GERMAN INTERVENTION |
Lloyds Bank Plc said it is cutting its base lending rate to 10.5 pct from 11 pct effective tomorrow. The reduction follows similar moves from the three other British clearing banks. National Westminster Bank Plc led the way this morning after the Bank of England lowered its dealing rates in a signal that it would toler... | LLOYDS BANK MATCHES BASE RATE CUT TO 10.5 PCT |
FRENCH 13-WEEK T-BILL AVERAGE RATE FALLS TO 7.37 PCT FROM 7.69 PCT - OFFICIAL | |
The Hamburg fishmeal market saw little movement in the past week with demand slack as in other protein feed sectors trade sources said. Prices edged up on firmer origin offering levels and the stronger dollar. Sellers quoted 64 pct fishmeal at between 640 and 650 marks per tonne free on truck for spot and between 630 a... | LITTLE MOVEMENT ON HAMBURG FISHMEAL MARKET |
Banque Francaise du Commerce Exterieur (BFCE) is issuing a 150 mln dlr seven pct bond due April 1 1992 at par lead manager Societe Generale said. The issue of unsecured unsubordinated debt is guaranteed by France. Fees are 1-1/4 pct for selling 1/4 pct for management and 3/8 pct for underwriting. Payment date is April ... | FRANCE'S BFCE ISSUES 150 MLN DLR EUROBOND |
A half point cut in base lending rates was announced by the big four clearing banks today after the Bank of England finally endorsed such a move following weeks of downward pressure dealers said. During its routine intervention in the market the bank trimmed the rates at which it deals with the discount houses by half ... | UK MONEY RATES FALL AS BANK APPROVES BASE RATE CUT |
Over 240 mln bushels of government grain have been allocated in redemptions for commodity certificates since the program began April 30 according to the Commodity Credit Corporation. Redemptions included 11.4 mln bushels of corn valued at 17.0 mln dlrs or an average per-bushel price of 1.492 dlrs since the current grai... | GRAIN CERTIFICATE REDEMPTIONS PUT AT 240 MLN BU |
American Motors Corp said it is studying a proposed merger with Chrysler Corp. American Motors said it received a letter from Chrysler Corp advising us of their proposal to enter into a merger transaction with American Motors Corp. In a brief statement the company said We are studying the proposal. We will have further... | AMC <AMO> STUDYING CHRYSLER <C> PROPOSAL |
Den Danske Bank af 1871 A/S said it was issuing the first certificates of deposit from a Danish bank and that the CDs will be for six nine and 12 months or a negotiable period. They will come in denominations of 10 mln crowns without commission to the bank. Interest will be linked to money and capital market rates and ... | DANSKE BANK IS FIRST DANISH BANK TO ISSUE CDS |
International Geosystems Corp a subsidiary of Golden Tech Resources said recent orders of its TianMa Chinese Language word processing system have brought year-to-date sales to more than 2900000 Canadian dlrs. Reuter | GOLDEN TECH RESOURCES <GTS.V> UNIT NOTES SALES |
American Express Cos stock fell sharply reflecting in part investors disappointment that the company did not make an announcement about its plans for brokerage unit Shearson Lehman Brothers traders said. The company has said it is studying options for its Shearson unit. Traders said many investors anticipated an announ... | WALL STREET STOCKS/AMERICAN EXPRESS <AXP> |
Infotron Systems Corp said it elected Robert E. Purcell chairman of the board a position held vacant for several years. Reuter | INFOTRON <INFN> NAMES NEW CHAIRMAN |
UAL'S UNITED AIRLINES FEBRUARY LOAD FACTOR RISES TO 63.2 PCT FROM 58.9 PCT | |
Ranger Oil Ltd said it completed on March 2 the previously announced sale of its U.S. oil and gas properties held by subsidiaries Ranger Oil Co and Ranger Inc to Ampol Exploration Ltd of Australia for 18.5 mln U.S. dlrs. Ranger said that under the deal it would retain a five pct gross overriding royalty on its stake fr... | RANGER <RGO> COMPLETES U.S. PROPERTY SALE |
AMOCO'S FIRST SOUTH CHINA SEA EXPLORATORY WELL FLOWS 2,240 BARRELS OF OIL DAILY | |
Kingdom of Sweden is issuing a 100 mln stg bond due April 15 1997 carrying a coupon of 9-1/2 pct and priced at 101-1/4 Baring Brothers and Co Ltd said as lead manager. The issue is payable on April 15 1987. The bonds are callable after seven years at 100-1/8 pct and it will be listed on the London Stock Exchange. Fees ... | KINGDOM OF SWEDEN ISSUES 100 MLN STG BOND |
In an unusual move Standard and Poors Corp downgraded a U.S. corporate debt issue soon after it was priced for offering late last week. But unlike a similar action in September 1986 which investment bankers said disrupted the financing the agencys rate reduction had no effect this time traders said. S and P announced F... | U.S. CORPORATE FINANCE - S/P CUT HAS NO EFFECT |
The U.S. Department of Agriculture will probably decrease its estimate of the 1986/87 Florida orange crop today to as low as 123 mln boxes from 129 mln boxes analysts and industry sources said. The Department is scheduled to release the new estimate at 1500 hrs EST (2100 gmt) today. Analysts said the market is anticipa... | TRADERS SAY USDA MAY LOWER ORANGE CROP ESTIMATE |
Moodys Investors Service Inc said it downgraded 50 mln dlrs of debt of Florida National Banks of Florida Inc and its lead bank Florida National Bank. Moodys cut the parents subordinated debt to Baa-1 from A-3 and the lead banks long-term deposit obligations to A-1 from Aa-3. Affirmed were Florida Nationals commercial p... | FLORIDA NATIONAL <FNBF> DOWNGRADED BY MOODY'S |
Perry Drug Stores Inc said February sales were up 19.5 pct to 52 mln dlrs from 43 mln dlrs a year earlier with same-store sales up five pct. It said sales for the first four months of its fiscal year were up 17.0 pct to 241 mln dlrs from 206 mln dlrs a year before with same-store sales up five pct. Reuter | PERRY DRUG <PDS> FEBRUARY SALES UP 19.5 PCT |
The United Auto Workers <UAW> union said it supports Chrysler Corps proposal to buy American Motors Corp as creating a good match that potentially points the way to a more secure future for workers at both companies. We believe our members interests can be well served within the Chrysler family and we are committed ... | UAW SAYS IT BACK CHRYSLER <C>, AMC <AMO> MERGER |
A Transworld Airlines Inc official said the airline has no comment on USAir Group Incs planned buyout of Piedmont Aviation Inc. TWA however has pursued its application with the Department of Transportation for a takeover of USAir according to Mark Buckstein TWA general counsel and vice president. TWA filed a revised ap... | TWA <TWA> DECLINES COMMENT ON USAIR <U> |
Moodys Investors Service Inc said it may downgrade 120 mln dlrs of debt of Piedmont Aviation Inc because of the airlines agreement to be acquired by USAir Group Inc <U>. The rating agency said its review would focus on the effect of the acquisition on Piedmonts financial leverage and its debt-service requirements. M... | MOODY'S MAY DOWNGRADE PIEDMONT AVIATION <PIE> |
The chairman of the conference on a new International Natural Rubber Agreement (INRA) Manaspas Xuto of Thailand said it was imperative to try to settle the main outstanding issues this week. The INRA renegotiation conference which resumed today under the auspices of the United Nations Conference on Trade and Developmen... | RUBBER PRODUCERS, CONSUMERS START NEW PACT TALKS |
Highland Superstores Inc said its February sales rose 14 pct to 46.5 mln dlrs from 40.9 mln dlrs a year ago. The company said on a comparable store basis considering stores open for at least 24 months sales declined 10 pct. It said it currently operates 53 stores. Reuter | HIGHLAND SUPERSTORES <HIGH> FEBRUARY SALES RISE |
Moodys Investors Service Inc said the 212.75 mln dlrs of debt of USAir Group Inc and its USAir Inc unit remain under review for possible downgrade. The rating agency cited USAir Groups proposed acquisition of Piedmont Aviation Inc <PIE> as well as Trans World Airlines Incs <TWA> proposed cash merger with USAir. H... | USAIR <U> AND UNIT REMAIN UNDER MOODY'S REVIEW |
Enterra Corp said its bank group has reduced its revolving credit agreement to 40 mln dlrs from 60 mln dlrs. Also the company said it and its units granted the group a security interest in their assets. Enterra said the change resulted from Enterras previously announced agreement to sell its Hale Fire Pump Co and Macom... | ENTERRA <EN> CREDIT LINE CUT |
FED SETS 2.5 BILLION DLR CUSTOMER REPURCHASE, FED SAYS | |
Royal Bank of Canada <RT.TO> said it is extending its discount brokerage service which has been available to Ontario residents since last year to Quebec investors. The bank said the success of the Ontario service is also prompting it to consider making the service available in several other provinces. Royal Bank sai... | ROYAL BANK/CANADA EXTENDS BROKERAGE SERVICE |
Bally Manufacturing Corp said it expects a charge to earnings in the first quarter of this year of 17.3 mln dlrs as a result of its deal to buy back 2.6 mln of its common shares from real estate developer Donald Trump. In a filing with the Securities and Exchange Commission the Chicago-based hotel casino gambling and a... | BALLY <BLY> TO TAKE 17.3 MLN DLR 1ST QTR CHARGE |
SHELL CANADA SAID IT RAISED CRUDE PRICES BY 47 CANADIAN CTS A BARREL TODAY | |
Hudson Bay Mining and Smelting Co Ltd said it cut prices for all grades of zinc sold in North America by one U.S. cent a pound and by one Canadian cent a pound effective immediately. The new price for high grade zinc is 37 U.S. cents and 49-1/2 Canadian cents a pound the company said. Special high grade prime western a... | HUDSON BAY MINING CUTS U.S., CANADA ZINC PRICES |
The Federal Reserve entered the U.S. Government securities market to arrange 2.5 billion dlrs of customer repurchase agreements a Fed spokesman said. Dealers said Federal funds were trading at 6-3/16 pct when the Fed began its temporary and indirect supply of reserves to the banking system. Reuter | FED ADDS RESERVES VIA CUSTOMER REPURCHASES |
WHITE HOUSE SPOKESMAN REITERATES PRESIDENT REAGAN'S OPPOSITION TO TAX HIKE | |
An appeal by Buitoni SpA against a court ruling that an accord under which it was to acquire Italian state food firm SME - Societa Meridionale Finanziaria was not contractually binding has been rejected court officials said. An appeal court rejected Buitonis claim that the 497 billion lire accord with the state industr... | COURT REJECTS BUITONI APPEAL OVER IRI FOOD UNIT |
American Electric Power Co (AEP) said its 1.3 mln kilowatt Mountaineer Plant at New Haven W. Va. will be taken out of operation March 13 for routine maintenance. AEP said Mountaineer is owned and operated by Appalachian Power Co one of the AEP Systems seven operating companies. Reuter | AMERICAN ELECTRIC <AEP> PLANT TO BE SHUT DOWN |
Allegheny International Inc the consumer products concern that today announced a merger agreement with a First Boston Corp <FBC> affiliate in a deal worth about 500 mln dlrs said it intends to divest more units as a way to increase profits. Were going to reduce AI to a size consistent with our financial resources sa... | ALLEGHENY <AG> AIMS TO DIVEST MORE BUSINESSES |
Hamilton Oil Corp said reserves at the end of 1986 were 59.8 mln barrels of oil and 905.5 billion cubic feet of natural gas or 211 mln barrels equivalent up 10 mln equivalent barrels from a year before. Reuter | HAMILTON OIL <HAML> SAYS RESERVES RISE |
Computer Sciences Corp said it has joined American Telephone and Telegraph on a bid for a 4.50-billion-dlr ten-year contract to provide the federal government with a telecommunications network. AT and T will be the prime contractor. The General Services Administration will award the contract by the end of the year. Com... | COMPUTER SCIENCES <CSC> JOINS ATT <T> ON BID |
Rohr Industries Inc is raising 150 mln dlrs through an offering of subordinated debentures due 2017 with a 9-1/4 pct coupon and par pricing said lead manager Dillon Read and Co Inc. That is 160 basis points over the yield of the off-the-run 9-1/4 pct Treasury bonds of 2016. Non-refundable for 10 years the issue is rate... | ROHR <RHR> SELLS DEBENTURES AT 9-1/4 PCT |
Life Technologies Inc said it signed a two mln dlr technology transfer and licensing agreement with Toray Industries Inc a Tokyo-based maker of synthetic fibers and industrial consumer and medical products. Under terms of the agreement Life said Toray purchased exclusive rights to market Lifes hepatitus B detection tec... | LIFE TECHNOLOGIES <LTEK> IN LICENSING AGREEMENT |
UAL Inc said its United Airlines units load factor for February rose to 63.2 pct from 58.9 pct the year before. The airline said scheduled capacity for the month rose 27.7 pct to 7.60 billion available seat miles from 5.95 billion while traffic rose 37 pct to 4.80 revenue passenger miles from 3.50 billion. February 198... | UAL'S <UAL> AIRLINE FEBRUARY LOAD FACTOR RISES |
Graham-McCormick Oil and Gas Partnership said it completed the sale of interests in two major oil and gas fields to <Energy Assets International Corp> for 21 mln dlrs. The company said it sold about one-half of its 50 pct interest in the Oak Hill and North Rucias fields its two largest producing properties. It said ... | GRAHAM-MCCORMICK <GOP> SELLS OIL AND GAS STAKE |
<Fujitsu America Inc> a subsidiary of Fujitsu Ltd said it will form a joint company with <GTE Communication System> to develop and market voice and data business communication systems to the North American market place. The new company Fujitsu GTE Business Systems Inc will be headquartered in Tempe Ariz. and is s... | FUJITSU LIMITED UNIT SIGNS JOINT VENTURE PACT |
Advanced Tobacco Products Inc said it has ended talks on being acquired by Sterling Drug Inc <STY> but has resumed acquisition talks with other parties. The company had previously announced that a major U.S. based company that it did not identify was evaluating its nicotine technology. Advanced said Sterlings board ... | ADVANCED TOBACCO <ATPI> MERGER TALKS END |
Mixed media group Bertelsmann AG <BETG.F> said its subsidiary Publicsoft GmbH has agreed to market Apple Computer Incs <AAPL.O> software products to the specialized West German computer retail trade. The cooperation agreement between Publicsoft and Apples West German subsidiary Apple Computer GmbH did not involve... | BERTELSMANN TO MARKET APPLE SOFTWARE IN GERMANY |
MTech Corp said it filed with the Securities and Exchange Commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures due 2012. The company named Alex Brown and Sons Inc as lead manager with First Boston Corp and Shearson Lehman Brothers Inc as co-managers of the offering. MTe... | MTECH <MTCH> FILES CONVERTIBLE DEBT OFFERING |
British Airways said it is introducing a short-stay fare called On The Town permitting passengers to book a theater holiday in London at the last minute and spend up to four days in England. British Airways said the packages are available beginning today and ending April 16 from New York Boston Chicago and Detroit for ... | BRITISH AIRWAYS <BAB> OFFERING HOLIDAY PACKAGE |
T.H.E. Fitness INc said it agreed to buy Livingwell Incs manufacturing unit Powercise INternational Inc for 11.0 mln T.H.E. Fitness shares valued at about 30 mln dlrs. This acquisition includes all of Livingwells rights to its recently announced Powercise fitness equipment. IN a separate transaction Livingwell INc an o... | T.H.E. FITNESS <RFIT> BUYS LIVINGWELL UNIT |
Oil traders in the New York area said Exxon Corps Exxon U.S.A. increased the price it charges contract barge customers for heating oil in New York harbor by 1.5 cts a gallon effective Saturday March 7. They said the increase brought Exxons contract barge price to 50 cts a gallon. Traders said the price hike followed hi... | EXXON <XON> RAISES HEATING OIL PRICE, TRADERS |
RLR Financial Serivces Inc said the National Association of Securities Dealers intends to delist it because the NASD beleieves market sales of RLRs broker/dealer subsidiary RLR Securities Group Inc are not being made under an effective registration statement as required by the Securities Act of 1933. RLR said the NASD ... | RLR FINANCIAL <RLRF> TO BE DELISTED FROM NASDAQ |
<Hudson Bay Mining and Smelting Co Ltd> said it cut prices for all grades of zinc sold in North America by one U.S. ct a pound and by one Canadian ct a pound effective immediately. The new price for high grade zinc is 37 U.S. cts and 49-1/2 Canadian cts a pound the company said. Special high grade prime western and ... | HUDSON BAY MINING CUTS U.S., CANADA ZINC PRICES |
BankAmerica Corps Bank of America unit said it completed the previously announced sale of BankAmerica Finance Ltd to <Bank of Ireland> for an expected pre-tax gain of 23 mln dlrs. BankAmerica Finance provides residential mortgages in south east England. Its total assets at the end of 1986 were about 1.2 mln dlrs. Re... | BANKAMERICA <BAC> COMPLETES MORTGAGE UNIT SALE |
Rolls Royce the U.K.s state-owned car and aircraft engine maker is seeking a 250 mln stg multiple option facility to provide it with additional sources of financing banking sources said. They said the facility which will be syndicated among a small group of the borrowers relationship banks is being put in place ahead o... | ROLLS ROYCE SEEKS 250 MLN STG CREDIT FACILITY |
SUPERMARKETS GENERAL GETS UNSOLICITED BID FOR 41.75 DLRS/SHR CASH | |
The Treasury Department is due to release funds for the Brazilian Coffee Institute IBC to pay for the coffee purchased from local producers the IBC said in a statement. IBC production director Oripes Gomes said in the statement that payment would be made within the official guarantee prices. The statement said the IBC ... | BRAZIL TREASURY TO RELEASE COFFEE BUYING FUNDS |
West German private banks in the latest twist in a long-running battle over the size of their holdings in industry have said the holdings were falling and rejected calls for tighter limits on these participations. Under West Germanys banking system banks can hold shares in non-banking companies giving them seats on com... | GERMAN BANKS SAY COMPANY HOLDINGS FALLING |
Shell Canada a wholly owned subsidiary of the Royal Dutch/Shell Group <RD> said that it raised crude oil prices by about 47 Canadian cts a barrel today. The increase riased its posted price for Light sweet crude oil to 21.95 dlrs a barrel from its march one level. Light sour crudes were raised to 19.95 dlrs a barrel... | SHELL CANADA <SHC> RAISED CRUDE OIL POSTINGS |
GHANA COCOA PURCHASES 1,323 TONNES IN LATEST WEEK, CUMULATIVE 216,095 TONNES - OFFICIAL | |
The staff of the Commodity Futures Trading Commission CFTC recommended that the regulatory agency approve the Minneapolis Grain Exchanges application to trade high fructose corn syrup-55 HFCS-55 futures contracts. The commission is expected to approve the application at a meeting tomorrow. The proposed contract would p... | MGE CORN SYRUP FUTURES CONTRACT CLEARS HURDLE |
The World Bank intends to bring borrowing forward into the first half of 1987 because it expects global interest rates to rise by year end World Bank vice president and treasurer Eugene Rotberg said. He told a news conference that rates in the U.S. Japan West Germany and Switzerland were near their lows. The weight of ... | WORLD BANK TO BRING BORROWING FORWARD THIS YEAR |
Comair Inc said February load factor fell to 34.6 pct from 38.0 pct a year before. The company said revenue passenger miles rose 9.5 pct to 10.9 mln from 9962399 a year before and available seat miles rose 20.3 pct to 31.5 mln from 26.2 mln. For the year to date it said load factor fell to 36.2 pct from 40.3 pct a year... | COMAIR <COMR> FEBRUARY LOAD FACTOR FALLS |
ServiceMaster L.P. approved a second quarter cash distribution of 58 cts payable April 10 record March 23. Previously ServiceMaster said it would pay in 1987 an indicated cash distribution of 1.50 dlrs a share including 95 cts a share which would be paid before April 15 1987. In other action the company set May eight a... | SERVICEMASTER <SVM> SETS QUARTER DISTRIBUTION |
Disposable income available to people employed in European Community agriculture rose 0.9 pct in 1986 after an 8.8 pct fall the previous year the EC statistics agency Eurostat said in a report. It said income available to farm holders and members of their family working on the holding rose 2.5 pct after a 13.9 pct fall... | EC FARMERS' INCOMES ROSE SLIGHTLY IN 1986 |
OEA Inc said it received from a division of Rockwell International Inc <ROK> a contract to design and develop a space shuttle egress slide system which could be used under post-mission landing conditions. OEA said its Inflation Systems International Inc subsidiary will produce ten of the post-landing emergency egres... | OEA <OEA> GETS SPACE SHUTTLE SYSTEM CONTRACT |
Wertheim Schroder and Co Inc said it appointed Steven Kotler 40 president of the investment banking and securities firm. Wertheim said Kotler has been a managing director and member of the executive committee of the firm which is 50 pct owned by <Schroders PLC> of the United Kingdom and 50 pct owned by Wertheim part... | <WERTHEIM SCHRODER AND CO INC> NAMES PRESIDENT |
The proposed 757 mln dlr deal under which Chrysler Corp would acquire American Motors Corp was described by analysts as a reasonable deal for both companies. Ronald Glantz of Montgomery Securities said AMC common stock could be fairly valued at just under five dlrs a share given changes brought by tax reform and that C... | WALL STREET STOCKS/CHRYSLER <C>, AMC <AMO> |
South Korean Foreign Trade Minister Rah Woon Bae said his countrys firms have agreed to buy 1.8 billion dlrs worth of U.S. goods during his two-week buying trip to the United States. Rah said most of the purchases represented shifts from Japanese firms to U.S. firms as part of South Koreas effort to reduce its seven bi... | KOREANS TO BUY 1.8 BILLION DLRS IN U.S. GOODS |
Trust America Service Corp said it signed an agreement with the First Union Bank of Florida for a 35 mln dlr mortgage warehouse credit line. It said the new agreement more than doubles its previous 14 mln dlrs line of credit. Reuter | TRUST AMERICA <TRUS> SETS CREDIT LINE |
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