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VTX Electronics Corp said it signed a distribution agreement with American Telephone and Telegraph Co under which it will act as an agent for ATTs electronic cable and wire fiber-optic cable and related products to original equipment manufacturers in the Northeast. Terms of the contract reached with ATTs Network System... | VTX <VTX> TO DISTRIBUTE ATT <T> PRODUCTS |
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 |
Spectrum Digital Corp said it installed its first multi-node ISDX T-1 multiplexer. The company said the T-1 system was installed at the University of North Carolinas Education Computing Service at Research Triangle Park N.C. Reuter | SPECTRUM DIGITAL <SPDG> INSTALLS FIRST SYSTEM |
White House spokesman Marlin Fitzwater said President Reagans record in opposing tax hikes is long and strong and not about to change. Were opposed to tax increases.... We will fight tax increases.... We will deal with it politically in every forum possible said Fitzwater when questioned about whether there was any cha... | FITZWATER SAYS REAGAN STRONGLY AGAINST TAX HIKE |
Supermarkets General Corp said it received an unsolicited proposal from a third party to acquire the company at 41.75 dlrs per share in cash. Supermarkets also said it retained Shearson Lehman Brothers Inc to advise its board of directors on the proposal. Supermarkets General currently has about 38.5 mln shares outstan... | SUPERMARKETS GENERAL <SGL> GETS UNSOLICITED BID |
Japanese crushers bought 5000 to 7000 tonnes of Canadian rapeseed in export business over the weekend for April shipment trade sources said. Japanese crushers continue to concentrate on rapeseed purchases since it converts to a higher percentage of oil than other oilseeds they said. A glut of feed meals makes other oil... | JAPANESE CRUSHERS BUY CANADIAN RAPESEED |
Total U.S. slab zinc stocks held by smelters rose to 24735 short tons at the end of February from 22120 short tons at the end of January the American Bureau of Metal Statistics reported. Zinc production increased to 26732 short tons in February from 25786 short tons in January. Shipments from smelters plants declined t... | ABMS SAYS U.S. ZINC STOCKS HIGHER IN FEBRUARY |
Jefferies and Co Inc said it intends to make a market in the stock of Diamond Shamrock Corp when as and if distributed. Diamond Shamrock has offered to repurchase twenty miillion shares of its common stock at 17 dlrs per share until midnight EST March 9. Reuter | JEFFERIES <JEFG> MARKETS DIAMOND SHAMROCK <DIA> |
Holiday Corp said its Holiday Inn Hotel Group will soon introduce a chain of limited-service hotels in international markets. The company said the chain which will be launched initially in Western Europe will usually feature 60 to 150 guest rooms and a small restuarant/lounge area but will offer fewer services and amen... | HOLIDAY CORP <HIA> TO OPEN NEW CHAIN IN EUROPE |
Diamond Shamrock Offshore Partners said it has started development drilling on West Cameron 178 block off Louisiana in the Gulf of Mexico after a significant natural gas find on the block. It said the discovery well there encountered 46 feet of net natural gas pay. No flow tests have been conducted it said. Diamond Sha... | DIAMOND SHAMROCK OFFSHORE <DSP> IN FIND |
Lead stocks held by U.S. refiners rose to 37295 short tons at the end of February from 34224 short tons (revised higher) at the end of January the American Bureau of Metal Statistics reported. Production of lead decreased to 33619 short tons in February from 38759 short tons in January. Shipments from plants increased ... | U.S. LEAD INVENTORIES RISE IN FEBRUARY - ABMS |
Technology Research Corp said an unidentified marketing company agreed to sell its products and placed an initial order for about six mln dlrs. It said the company will sells its product that protects against serious electrical shock. The product will be sold through mass merchandisers and retail hardware stores it sai... | TECHNOLOGY RESEARCH <TRCI> WINS CONTRACT |
BCI Holdings Corp said it named Stephen Rowley president of Day-Timers Inc a subsidiary of the companys Beatrice Consumer Durables effective immediately. It said he replaces Robert Dorney founder and former president who will remain as senior vice president new product development of the company which produces time man... | BCI HOLDINGS UNIT PRESIDENT NAMED |
The Federated Group Inc said its four-week March 1 sales totaled 25.7 mln dlrs down eight pct from the same period a year ago. The company said sales in the 13 weeks ended March 1 rose 11 pct to 136.6 mln dlrs. In the 52-weeks ended March 1 sales totaled 430.2 mln dlrs up 18 pct from a year earlier the company said. Re... | THE FEDERATED GROUP <FEGP> 4-WEEK SALES DOWN |
Wings West Airlines said its load factor remained constant in February at 42.7 pct. The company said it boarded 39812 passengers in February up from 22141 a year ago. Revenue passenger miles in February totaled 6146787 up 51.8 pct from a year ago while available seat miles rose 62.2 pct to 14385113 the company said. Re... | WINGS WEST AIRLINES <WING> LOAD FACTOR UNCHANGED |
Sharon Steel Corp said it extended from March six to March 31 the expiration date for its debt exchange offer to allow time to complete the sale of its Mueller Brass Co unit and to meet other conditions of the offer. The exchange offer covers Sharons outstanding 13.5 pct subordinated sinking fund debentures due 2000 an... | <SHARON STEEL CORP> EXTENDS EXCHANGE OFFER |
U.K. Insurers could face more than 30 mln stg of insurance claims following the Zeebrugge ferry disaster a spokesman for Lloyds of London said. It could take weeks before the extent of the compensation claims for passengers crew and cargo was known and also before it was known how much if any of the ship could be salva... | FERRY DISASTER CLAIMS COULD TOP 30 MLN STG |
Engineering industry employers in North Rhine-Westphalia state said they made an unprecedented offer on pay and working hours. The offer which came amid warning strikes by some 33000 workers was the first time since World War Two that employers have proposed cutting working hours and is seen as averting a repeat of the... | GERMAN EMPLOYERS MAKE SURPRISE OFFER TO ENGINEERS |
<Citibank NA> said it has cut its British base lending rate to 10.5 pct from 11 pct with effect from tomorrow. This move follows similar cuts by four major British clearing banks led by National Westminster Bank Plc <NWBL.L>. Lower rates were signalled by the Bank of England this morning in an attempt to curb rec... | CITIBANK FOLLOWS U.K. BASE RATE CUT TO 10.5 PCT |
Crane Co said it will redeem on March 31 all 75 mln dlrs of its outstanding 8-3/4 pct convertible senior debentures due October 1 2005 at 107.875 pct. It said accrued interest to March 31 will be paid on that date to holders of record as of March 15. The debentures may be converted into common stock at 28.80 dlrs per s... | CRANE <CR> TO REDEEM CONVERTIBLE DEBENTURES |
Oglethorpe Power Corp said it does not plan to raise its electric rates to cover higher construction costs at the Alvin W. Vogtle Nuclear Plant in which Oglethorpe holds a 30 pct interest. Earlier today Southern Cos <SO> Georgia Power Co said it raised the estimated cost of building the plant by nearly six pct to ro... | <OGLETHORPE POWER CORP> SEES NO RATE INCREASE |
The Bank of Zambia has paid out foreign exchange arrears from three auctions conducted last year a bank spokesman said. We have now cleared three auctions and are left with only four worth eight mln dlrs the spokesman said without specifying the amount paid out. The bank had not paid foreign exchange to private firms s... | BANK OF ZAMBIA PAYS OUT FOREIGN CURRENCY ARREARS |
A small investor group led by Melvyn Gelch a Providence R.I. surgeon told the Securities and Exchange Commission it has acquired 60840 shares of Datarex Systems Inc or 5.5 pct of the total outstanding common stock. The Gelch group said it bought the stake for about 935000 dlrs for investment purposes only. Reuter | INVESTORS HAVE 5.5 PCT OF DATAREX SYSTEMS <DRX> |
<Amoskeag Co> said Joseph B. Ely II became chairman in addition to his duties as chief executive officer succeeding Albert B. Hunt who served in that position since 1972. It also said James M. Fitzgibbons currently executive vice president and chief operating officer will beomce president a position Ely also held. R... | AMOSKEAG CO NAMES NEW CHAIRMAN |
The Ghana Cocoa Board said it purchased 1323 tonnes of cocoa in the 21st week ended February 26 of the 1986/87 main crop season compared with 1961 tonnes the previous week and 1344 tonnes in the 21st week ended March six of the 1985/86 season the board said. Cumulative purchases so far this season stand at 216095 tonne... | GHANA COCOA PURCHASES FALL, CUMULATIVE STILL UP |
Barton Valve Co Inc said shareholders at the annual meeting approved a name change to Barton Industries Inc and a reduction in board size to three members from five. Reuter | BARTON VALVE <BART> HOLDERS APPROVE NAME CHANGE |
Wm. Wrigley Jr Co expects the cost of technological improvements and renovation projects to push 1987s capital expenditures up considerably from last years 25.4 mln dlrs President William Wrigley told the annual meeting. In 1985 the companys spending totaled 26.8 mln dlrs. He also said the pace of the companys marketin... | WM WRIGLEY JR <WWY> SEES HIGHER 1987 SPENDING |
The following import levies for white and raw sugar are effective tomorrow in European currency units (ecu) per 100 kilos. White sugar denatured and non-denatured 49.70 versus 50.05 previously. Raw sugar denatured and non-denatured 41.35 versus 41.35 previously. The rate for raws is based on 92 pct yield. Reuter | EC SUGAR IMPORT LEVIES |
Leon Greenblatt a Chicago investor told the Securities and Exchange Commission he has acquired 89450 shares of Technology Development Corp or 5.3 pct of the total outstanding common stock. Greenblatt said he bought the stock for 350000 dlrs soley as an investment and has no intention of seeking control of the company. ... | INVESTOR HAS TECHNOLOGY DEVELOPMENT <TDCX> STAKE |
A group of brokerage executives with a 25.25 pct stake in the cumulative convertible preferred stock of Piezo Electric Products Inc said it will seek two seats on the companys board of directors. In a filing with the Securities and Exchange Commission Providence Securities Inc a Providence R.I. brokerage firm and two e... | PIEZO <PEPI> PREFERRED HOLDERS SEEK BOARD SEATS |
Vneshtorgbank the Soviet Foreign Trade bank is seeking an increase to 250 mln stg from the original 150 mln for a five year sterling bankers acceptance facility arranged last autumn Lloyds Merchant Bank Ltd said as arranger. The facility has a 10 basis point facility fee and there is a 15 basis point maximum cap on the... | VNESHTORGBANK SEEKS INCREASE FOR FACILITY |
CheckRobot Inc said it recieved four mln dlrs in financing through the private placement of convertible preferred stock. It said 2.8 mln dlrs of the financing has already been funded from existing shareholders <Sensormatic Electronics Corp> and <Southeast Venture Capital Limited II>. Reuter | CHECKROBOT <CKRB> GETS FINANCING |
Tracor Inc said its Tracor Aerospace Inc unit won three follow-up contracts worth 1.9 mln dlrs from the U.S. Air Force. It said the unit will conduct special studies and modifications in systems components for flight tests on the Peacekeeper Missle. Tracor said it previously received 49.3 mln dlrs worth of contracts fr... | TRACOR <TRR> UNIT WINS U.S. FOLLOW-UP CONTRACTS |
University Patents Inc said 4344 of its Aleges soft bifocal contract lenses were sold in February after allowances for exchanges and returns up from 3011 in January. It said 1800 opthalmologists and optometrists were fitting the product last month up from 1600 a month before. Sales of the lens started in May 1986. Reut... | UNIVERSITY PATENTS <UPT> LENS SALES RISE |
ANALYST SAYS DART GROUP LIKELY BIDDER FOR SUPERMARKETS GENERAL | |
WearEver-ProctorSilex Inc said it will relocate is corporate headquarters from Chillicothe to Richmond Va. beginning this fall and ending by early 1988. The company said Richmond was chosen because it is centrally located to its main operating facilities which will reduce travel and other costs. About 150 headquarters ... | WEAREVER <WRPS> TO RELOCATE HEADQUARTERS |
<Angio-Medical Corp> said it filed with the Securities and Exchange Commission for an initial public offering of 1666667 units of one share of common and one redeemable warrant to buy one share of common at six dlrs per unit. It said Keane Securities Co Inc <KEAN> is the underwriter. The company said its securiti... | ANGIO-MEDICAL IN INITIAL OFFERING |
Bear Stearns Cos Inc said it was relocating its Wall Street headquarters to a mid-town location on Park Ave. and signed a lease with <Olympia and York>. The firm said it will occupy 537000 square beginning January 1988 under a 15 year lease. It will begin to move into the new offices later this year. It said the spa... | BEAR STEARNS <BSC> TO RELOCATE HEADQUARTERS |
Harris Associates L.P. a Chicago investment advisory firm said it cut its stake in Cyclops Corp to 437425 shares or 11.1 pct of the total outstanding common stock from 524775 shares or 13.3 pct. In a filing with the Securities and Exchange Commission Harris said it sold 87350 Cyclops common shares between Jan 6 and Mar... | HARRIS CUTS CYCLOPS <CYL> STAKE TO 11.1 PCT |
Lotus Development Corp said it has received a 30 mln dlr order from Micro D Inc for a number of Lotus software products. It said the order is the largest it has ever received and is to be delivered over six months. Reuter | LOTUS <LOTS> GETS ORDER FROM MICRO D <MCRD> |
Chrysler Corp said it valued its proposed buyout of American Motors Corp at 757 mln dlrs not counting the effect of a contingent payment that could reach 350 mln dlrs based on AMCs future profits. A Chrysler spokesman told Reuters that the letter of intent signed with Renault AMCs controlling shareholder with a 46.2 pc... | CHRYSLER <C> VALUES AMC <AMO> AT 757 MLN DLRS |
Dart Group <DARTA> is likely seeking to buy Supermarkets General <SGL> analysts said. Theres been rumors that theyve taken a position in the company said Wood Gundie analyst Edward Comeau. Last year Dart Group owner of Auto Trak INc and Crown Books competed against Kohlberg Kravis to acquire Safeway Stores INc. T... | DART SAID LIKELY SUPERMARKETS GENERAL SUITOR |
ADVO-System Inc said it could report a break even second quarter ending March 28 1987 compared with a loss of 1.8 mln dlrs or 16 cts a share in fiscal 1986s second quarter ended March 29 1986. ADVO said it previously announced it would report a net loss for the quarter. Reuter | ADVO-SYSTEM INC <ADVO> SEES BREAK-EVEN 2ND QTR |
National Franchisors Inc a franchise development and consulting business said it will launch its first project the Shoesmith shoe-care and repair shop. The company said it is negotiating for several shopping center locations for initial franchise sites and that it will soon open a pilot Shoesmith shop and training cent... | <NATIONAL FRANCHISORS INC> TO LAUNCH FRANCHISE |
<British Airports Authority Plc> which will be privatised later this year is seeking a 200 mln stg multiple option facility banking sources said. The facility will incorporate a 100 mln stg revolving standby credit and a 50 mln stg swingline credit both of which will be available for seven years. There also will be ... | BRITISH AIRPORTS AUTHORITY SEEKS CREDIT FACILITY |
This year will see a pickup in U.S. economic growth and inflation the Shadow Open Market Committee said in its semi-annual policy statement. The SOMC a group of basically monetarist private economists said that economic growth will accelerate in 1987 in response to powerful stimulative actions by the Federal Reserve. T... | FED WATCHERS SEE U.S. ECONOMIC, INFLATION UPTURN |
CANADIAN PACIFIC LTD 4TH QTR OPER NET 30 CTS VS 20 CTS | |
London Stock Exchange officials feel confident that problems arising from a New York Stock Exchange NYSE rule which might limit the trading activities in London of NYSE members can be solved a London Exchange spokeswoman said. The situation will be sorted out during the regular contacts between the two exchanges she ad... | LONDON SEES NYSE RULE PROBLEM BEING SETTLED |
The Dutch current account surplus fell 5.4 billion guilders last year to a provisional 12.1 billion guilders the Finance Ministry said in a statement. The surplus is expected to fall further in 1987 the statement said but gave no details. Earlier today the official planning agency CPB said it expected the surplus to fa... | DUTCH CURRENT ACCOUNT SURPLUS FALLS IN 1986 |
Honeybee Inc said it knows of no reason for the recent rise in its stock price. There are no corporate or business developments announced or unannounced the company said in a statement. Business is continuing as usual it said adding that it is not engaged in any merger or acquisition discussions. The companys stock is ... | HONEYBEE <HBE> SEES NO REASON FOR STOCK RISE |
Consolidated Grandview Inc said it acquired a 60 pct stake in <All Ticket Group PLC> of London for undisclosed terms. The seller was also undisclosed. All Ticket is a special events travel company with exclusive European rights to UAL Inc <UAL>s United Airlines Apollo system booking all United Airlines flights in... | GRANDVIEW ACQUIRES CONTROL OF U.K. TICKET GROUP |
United Cities Gas Co said it has acquired Lyle Propane Gas Co a Cairo Ga. propane gas distributor for undisclosed terms. It said Lyle has sales of about four mln gallons annually and serves about 4000 customers in seven counties in southwest Georgia and north Florida. Reuter | UNITED CITIES <UCIT> MAKES ACQUISITION |
The U.S. Treasurys weekly auction is expected to produce an average rate of 5.63-65 pct for three-month bills and one of 5.59-61 pct for six-month bills dealers said. Shortly before auction time on the new bills the rate on the outstanding three-month bills was unchanged at 5.64 pct bid while the rate on the six-month ... | U.S. BILL AUCTIONS SEEN AT 5.63-65, 5.59-61 PCT |
The board of Medical Properties Inc said it has declared an initial monthly cash dividend of 11-1/2 cts a share and has adopted a monthly dividend policy. The initial dividend will be payable April 10 to shareholders of record March 31. Reuter | MEDICAL PROPERTIES <MPP> SETS MONTHLY DIVIDEND |
Barter Resources said it formed a television home shopping unit Television Catalogue Inc. The company said an investor group paid 500000 dlrs in funding for a 51 pct interest in the unit. Barter said 100000 dlrs of the funding has been paid with the balance due within sixty days. Reuter | <BARTER RESOURCES> FORMS HOME SHOPPING UNIT |
wheat Ria Luna 20000 mt Norrkoping and Djuron/EC Mexico 12.50 dlrs option loading Uddevalla at 50 cents less 4000/1500 16-23/3 Continental. Reference New York Grain Freights 2 of March 6 brokers say the charterer of the Saturn from US Gulf to Japan is reported to be Nordstrom and Thulin while the Antigone is reported t... | LONDON GRAIN FREIGHTS |
Air Wis Services Inc said February load factor fell to 42.9 pct from 44.2 pct a year before. The company said revenue passenger miles rose 2.1 pct to 22.2 mln from 21.7 mln a year before with available seat miles up 5.3 pct to 51.8 mln from 49.2 mln. Reuter | AIR WIS <ARWS> FEBRUARY LOAD FACTOR FALLS |
Immucor Inc said its board of directors has declared a five-for-four stock split in the form of a 25 pct stock dividend payable April 15 to shareholders of record March 27. Reuter | IMMUCOR <BLUD> SPLITS STOCK |
Bermuda Star Line Inc said it has agreed in principle to acquire 815-passenger SS Liberte from Barnstead Shipping Ltd for use in its New York/Montreal Northeast Passages cruises starting this summer. The company said it is working to conclude a lease financing or other financing for the purchase of the 23500 ton vessel... | BERMUDA STAR LINE <BSL> TO MAKE ACQUISITION |
Municipal Assistance Corp of New York said its planned offering later this week of 670 mln dlrs of Series 62 bonds would probably be the last time it taps the market until the third quarter. The bonds will be sold by a syndicate led by Salomon Brothers Inc. Their maturity will be set at the pricing. Proceeds will be us... | MUNICIPAL ASSISTANCE CORP OF NY TO SELL BONDS |
<MTS Acquisition Corps> 28-dlr-per-share offering price for Caesars World Inc is thought to be much too low and is likely to attract other suitors for the hotel/casino company industry analysts said. I think someone else will probably come in or they (MTS) will have to raise their bid said Marvin Roffman an analyst ... | TALKING POINT/CAESARS WORLD <CAW> |
Merck and Co Inc said it will spend more than 530 mln dlrs this year on research and development up 11 pct from the 480 mln dlrs it spent in 1986 on research and development. Reuter | MERCK <MRK> UPS 1987 RESEARCH BUDGET 11 PCT |
Allegheny International Inc said its chairman and chief operating officer will remain in their positions following the merger of the company with an affiliate of First Boston Corp. It is expected that Oliver S. Travers will continue as chairman president and Chief executive officer and Thomas J. Albani will continue as... | ALLEGHENY <AG> OFFICERS TO RUN COMPANY |
Imperial Continental Gas Association <ICGS.L> IC Gas said its board is not making a recommendation on the partial tender offfer at 710p per share announced by <Tractebel SA> and <Groupe Bruxelles Lambert SA>. At the same time however the board would not recommend a general offer for all the shares at a price o... | IC GAS MAKES NO RECOMMENDATION ON TRACTEBEL OFFER |
ALC Communication Services Inc said its Allnet Communications Corp will consolidate its two data centers and relocate at a Southfield Michigan office center. The new facility will employ more than 300 people and is expected to absorb employees from the existing centers in Birmingham and Chicago a company spokesman said... | ALC'S <ALCC>ALLNET TO CONSOLIDATE DATA CENTERS |
National Heathcare Inc said it signed an agreement to sell five rural hospitals to a private corporation for about 18 mln dlrs including the assumption of six mln dlrs of debt. The company said it plans to complete the sales which are subject to various regulatory approvals by the end of July. National Healthcare said ... | NAT'L HEALTHCARE <NHCI> TO SELL FIVE HOSPITALS |
USX Corp chairman David Roderick called for a lower value for the U.S. dollar against other currencies to help speed a correction in the U.S. trade deficit which last year reached 170 billion dlrs. In remarks prepared for a speech before the Economic Club of Detroit Roderick said There should be total resolve that the ... | USX <X> CHAIRMAN CALLS FOR LOWER DOLLAR |
Utilization of offshore mobile rigs in the Gulf of Mexico was unchanged at 35.6 pct during the past week a level that has remained relatively steady since January due largely to a reduction of nine rigs in the Gulf fleet Offshore Data Services said. The total number of working rigs was 83 for the week compared to 83 la... | GULF OF MEXICO RIG COUNT UNCHANGED THIS WEEK |
Canadian Pacific Ltd said fourth quarter 1986 operating profit rose to 91.6 mln dlrs or 30 cts a share from 50.7 mln dlrs or 20 cts a share a year ago. The statement confirmed released preliminary earnings figures the company released in February. A 102.6 mln dlr gain on the sale of CPs Cominco Ltd interest helped rais... | CANADIAN PACIFIC (CP) CONFIRMS EARNINGS |
U.S. drilling activity slowed significantly in Texas and Oklahoma last week resulting in the number of U.S. active rotary rigs to plunge by 35 to a total of 766 against 1212 working rigs one year ago Hughes Tool Co. said. Most of the decrease came among rigs used for onshore drilling which dropped to a total of 671 fro... | HUGHES' U.S. RIG COUNT FALLS BY 35 TO 766 |
Ford Motor Cos stock rose 1-1/4 to 82-1/4 after analyst Maryann Keller of Furman Selz Mager Dietz and Birney raised earnings estimates on the company traders said. Keller said that she expects the companys 1987 earnings to rise to between 13.50-to-14 dlrs a share as compared to 12.32 dlrs a share earned last year. She ... | FORD <F> SHARES RISE ON HIGHER EARNING ESTIMATE |
Italy has shown interest in British new crop wheat recently but the actual volume booked so far by Italian buyers has not been large traders said. They put purchases at around 50000 tonnes for Sept/Dec shipments but said some of the business was transacted at the start of the year. Italian interior home markets have be... | ITALY SHOWS INTEREST IN U.K. NEW CROP WHEAT |
Dutch food retailer Ahold NV <AHLN.AS> expects unchanged profits in 1987 but said it will take advantage of the lower dollar to expand further in the U.S. Turnover will grow but net profits are expected to remain around the 1986 level of 132.4 mln guilders due to higher Dutch taxes and a three-year expansion plan Ah... | DUTCH RETAILER AHOLD SEES UNCHANGED 1987 PROFIT |
Flying Tigers said it has expanded its air cargo routes to include Asia-to-Europe jetfreighter flights. The company also said it is launching a jetfreighter service to Milan Italy. Both routes will operate weekly. Reuter | FLYING TIGERS <TGR> ADDS AIR CARGO ROUTES |
Pitt-Des Moines Inc said it will receive a qualified opinion from auditors on its 1986 and 1985 financial statements. It said the qualification related to its inability to determine the effects if any of the final resolution of a suit filed against it by <Washington Public Power Supply System>. The 1985 suit was dis... | PITT-DES MOINES <PDM> GETS QUALIFIED AUDIT |
Reading Co said it has agreed in principle to convey properties it owns in and around the Philadelphia Convention Center site to the city of Philadelphia and the Philadelphia Convention Center Authority. It said in exchange it will receive about 23 mln dlrs in cash rights to acquire 22 acres adjacent to the Philadelphi... | READING <RDGC> TO SELL PHILADELPHIA PROPERTIES |
Montedison SpA <MONI.MI> has acquired a 70 pct stake in <Plant Cell Research Institute - PCRI> of California from Atlantic Richfield Co <ARC.N> for several tens of millions of dollars a senior Montedison executive said. Renato Ugo a member of Montedisons management committee told reporters that <Stanford Re... | MONTEDISON ACQUIRES ARCO RESEARCH UNIT |
The London Meat Futures Exchange LMFE will cease trading in its deliverable pigmeat contract from April 3 the LMFE said. The move will enable the exchange to concentrate on the cash settled contracts introduced last year. This allows the exchange and its members to concentrate our marketing on the pig and live cattle c... | LMFE TO CONCENTRATE ON CASH SETTLED CONTRACTS |
White House communications director John Koehler resigned after just one week in the job saying President Reagans new chief of staff Howard Baker had a right to appoint his own team. Koehler was hired to replace Patrick Buchanan as Reagans communications chief a few days before Donald Regan quit as the presidents top a... | KOEHLER RESIGNS AFTER ONE-WEEK AS REAGAN AIDE |
A senior Iraqi official said today Iran had exaggerated reports of fighting on the Gulf war northern front to make up for failure in the south and to encourage anti-Baghdad Kurdish rebels to support its troops. The head of the defence ministry political department Abdul Jabbar Muhsen told Reuters in a telephone intervi... | IRAQ SAYS IRAN EXAGGERATES FIGHTING IN NORTH |
<TCN Inc> a long distance phone service said it has completed installing it state-of-the-art switching system. TCN also said it began building a fiber optic transmission network to initially link San Antonio Austin Dallas and Houston Texas. TCN said the service will expand during the second quarter 1987 to include s... | TCN COMPLETES INSTALLATION OF SWITCHING SYSTEM |
The USDAs weekly export inspection report is expected to show a decline in soybean exports and steady to slightly lower corn and wheat exports according to CBT floor traders forecasts. Traders projected soybean exports at 15 mln to 16 mln bushels down from 20.3 mln bushels a week ago and 25.5 mln bushels a year ago. Co... | CBT TRADERS SEE LOWER SOYBEAN EXPORT INSPECTIONS |
Two new eurosterling bonds were launched today making a total of 10 new deals in the sector so far this month as borrowers rush to cash in on a bull sterling market fueled by the strength of the pound and pre-budget euphoria. The Bank of England finally gave way to a 1/2 point cut in banks base lending rates earlier to... | PRIMARY EUROSTERLING MARKET BOOMS DESPITE RATE CUT |
McDonnell Douglas Corp said recent talks with Airbus Industries about joint development and production of a new jetliner with the European aircraft manufacturing consortium have been very informal. If there have been talks they were casual at best said a source at the company. There is nothing going on that would lead ... | MCDONNELL <MD> SAID TALKS AT INFORMAL STAGE |
The volume of European exports to South Africa carried by container line vessels has declined 40 pct in the last two years British shipping executive Antony Butterwick said. Butterwick told reporters that despite the drop and low freight rates the shipping conference he heads will increase the frequency of sailings to ... | EUROPE SHIPPING EXPORTS TO S AFRICA OFF 40 PCT |
European consortium <Airbus Industrie> said it had no comment on press reports that it had resumed talks with U.S. <McDonnell Douglas Corp.> over a possible joint development and production of airliners. A spokesman at Airbus headquarters in Toulouse said in a telephone interview: We have no knowledge of talks an... | AIRBUS HAS NO COMMENT ON MCDONNELL TALKS |
Mathematical Applications Group Inc said it has signed a letter of intent to sell all of its operating business and will propose a plan of liquidation following the sale. If the company is unsuccessful in obtaining the approvals needed for the sale and liquidation it said the company may be required to initiate reorgan... | MATHEMATICAL APPLICATIONS SETS OPERATIONS SALE |
UNION CARBIDE FILES TO OFFER 500 MLN DLRS OF DEBT | |
With the death of Sen. Edward Zorinsky (D-Neb.) Midwestern grain farmers have lost an ally who from his senior post on the Senate Agriculture Committee had fought hard against cutbacks in farm benefits. Zorinskys passing could trim the Democrats majority in the Senate and change the makeup of the Senate farm panel. Zor... | SEN. ZORINSKY'S DEATH RAISES POLICY QUESTIONS |
Financial Corp of Americas American Savings and Loan Association said it completed the previously announced purchase of 16 retail savings branches from Great Western Financial Corps <GWF> Great Western Savings. American Savings said the purchases boost its deposits by about 550 mln dlrs but do not affect its asset b... | FINANCIAL CORP <FIN> UNIT COMPLETES PURCHASE |
American and Soviet arms negotiators will resume talks on curbing medium-range nuclear missiles here tomorrow a U.S. Spokesman said. The negotiations on nuclear and space arms formally recessed their seventh round last Friday. But both sides agreed that the group dealing with Intermediate Nuclear Forces (INF) would con... | U.S., SOVIETS TO RESUME TALKS ON MEDIUM-RANGE MISSILES |
Central bankers said they were generally satisfied with the response to the Paris accord two weeks ago to stabilize currencies at around current levels. Speaking after a meeting at the Bank for International Settlements (BIS) which reviewed the agreement they also welcomed interest rates cuts in France and todays drop ... | CENTRAL BANKERS SATISFIED WITH PARIS ACCORD |
Union Carbide Corp said it filed a registration statement with the Securities and Exchange Commission covering 250 mln dlrs of senior subordinated notes due 1994 and 250 mln dlrs of convertible subordinated debentures due 2012. The notes which will be callable after 1992 will be underwritten by First Boston Corp. First... | UNION CARBIDE <UK> FILES 500 MLN DLR DEBT OFFER |
The Student Loan Marketing Association said it priced its 300 mln dlr short-term floating rate note offer at par to yield 25 basis points above the bond-equivalent yield of the 91-day Treasury bill. Sallie Mae said previously interest on the notes which are for settlement March 12 and are due Sept 10 1987 will be reset... | SALLIE MAE PRICES SHORT-TERM FLOATING RATE NOTES |
Johnson Products Co Inc said it completed the sale of Debbies School of Beauty Culture Inc and the assets of Ultra Precise Beauty Boutique Inc to management. It said the sale price of 2533000 dlrs consisted of 700000 dlrs cash a secured promissory note for 1506000 dlrs and the forgiveness of a debt of 327000 dlrs owed ... | JOHNSON PRODUCTS <JPC> SELLS TWO SUBSIDIARIES |
A newly formed credit rating agency based in London EuroRatings Ltd said it will begin providing evaluations of the quality of eurobond offerings including the first-ever ratings of some of the U.K. And Irish clearing banks. The agency said that already it has published ratings on 90 issues of 45 euromarket issuers. Am... | NEW AGENCY TO GIVE CREDIT RATINGS ON EUROBONDS |
Eli Lilly and Co said it obtained approval from the U.S. Food and Drug Adminstration to market the natural sequence human growth hormone humatrope made by recombinant DNA technolgoy. The company said humatrope is identical in chemistry and structure to the growth hormone produced by the human body. It is the only comme... | ELI LILLY AND CO <LLY> GETS DRUG APPROVAL |
USAir Group Inc said it seeking two billion dlrs in bank debt to complete its takeover of Piedmont Aviation Inc <PIE> and its pending acquisition of PS Group Incs Pacific Southwest Airlines. In a filing with the Securities and Exchange Commission that details its proposed 69 dlr a share cash tender offer for Piedmon... | USAIR <U> SEEKS TWO BILLION LOAN FOR TAKEOVERS |
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS SOYBEANS 18,616 WHEAT 16,760 CORN 25,193 | |
Pitney Bowes Incs Dictaphone Corp subsidiary said it has contracted the exclusive right to sell <Sudbury Systems Inc>s RTAS digital dictation system in medical markets in the United States. Inaddition Dictaphone said it will market RTAS in non-medical marekts on a non-exclusive basis. RTAS is a centralized system wh... | PITNEY BOWES <PBI> UNIT TO MARKET SUDBURY SYSTEM |
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