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The Bank of Thailand said it has floated 500 mln baht of new five-year loan bonds for public sale. The bonds will yield 7.25 pct net after tax with interest compounded semi-annually. The aggregate five-year yield will amount to 42.77 pct of the principal on maturity. REUTER | BANK OF THAILAND FLOATS NEW GOVERNMENT BOND |
Prime Minister Yasuhiro Nakasone will step down only after his plan to overhaul Japans tax system gets parliamentary approval one of his closest aides said today. The aide who declined to be identified said at a private meeting Nakasones power in office does not necessarily terminate at the end of his term in October. ... | NAKASONE SET TO STAY UNTIL TAX REFORM APPROVED |
Credit Foncier de France is issuing a 150 mln ECU eurobond due April 14 1994 at 7-5/8 pct and priced at 101-5/8 pct lead manager Banque Paribas Capital Markets said. The issue is guaranteed by France and will have a 50 mln ecu tap exercisable for six months. The bond will be available in denominations of 1000 and 10000... | CREDIT FONCIER DE FRANCE ISSUES 150 MLN ECU BOND |
Belgium cuts discount rate to 8.0 pct from 8.50 - official | |
A spokesman for Preussag AG <PRSG.F> said it was not yet certain whether the company would pay a dividend on 1986 results He was commenting on a Preussag statement which said results in 1986 were lower than in 1985. Preussag has frequently said its results came under further pressure in 1986 following a difficult ye... | PREUSSAG SAYS PAYMENT OF A 1986 DIVIDEND NOT CERTAIN |
Dutch car imports rose 27.5 pct in 1986 to 610500 units in 1986 reflecting a 41.8 pct growth in Japanese imports the association for the Dutch vehicle industry reported. Dutch imports of Japanese cars rose 41.8 pct last year to 143880 units compared with a 37.4 pct rise in imports from other EC countries to 437500 unit... | DUTCH CAR IMPORTS RISE 27.5 PCT IN 1986 |
Foreign oil companies will spend less on exploration in Indonesia this year than last budgeting 2.7 billion dlrs for calendar 1987 against 1986 spending of 2.8 billion dlrs the state oil company Pertamina said. Actual spending last year fell short of the budgeted figure of 3.2 billion dlrs as oil companies slashed expe... | OIL FIRMS CUT 1987 INDONESIAN EXPLORATION SPENDING |
Imperial Chemical Industries Plc <ICI.L> is issuing a 100 mln stg eurobond due April 15 2005 paying 9-3/4 pct and priced at 101-1/4 pct lead manager Warburg Securities said. Morgan Grenfell and Co Ltd is co-lead. The bond is in partly paid form with 30 pct due on April 15 and the remainder due for payment on July 15... | ICI ISSUES 100 MLN STG 9-3/4 PCT EUROBOND |
Negotiations between Indonesias state oil company Pertamina and foreign oil contractors on extension of the standard 30-year production sharing contract will be concluded by the end of this month a Pertamina official said. Jumardi Jukardi head of Pertaminas foreign contractors coordinating board gave no details about t... | INDONESIA OIL CONTRACT NEGOTIATIONS END THIS MONTH |
Salomon Brothers Internationals CMO Eurotrust subsidiary is issuing a 228 mln dlr collateralised mortgage obligation priced at par and yielding 40 basis points over the three-month London interbank offered rate (Libor) Salomon said as lead manager. However interest which is paid quarterly cannot rise above 11.50 pct. T... | SALOMON ISSUES 228 MLN DLR FLOATING RATE CMO |
Traders here and in Paris said the results of todays EC white sugar tender are hard to forecast because of plans by a group of French West German Dutch and Belgian operators to sell one mln tonnes of sugar into intervention. London traders said bids for licences have been reported between 43.00 and 44.00 Ecus per 100 k... | TRADE SAYS EC SUGAR TENDER HARD TO FORECAST |
South Korea will further open its market to help cut its trade surplus with the U.S. And to fight off pressure to revalue the won against the dollar a government spokesman said. The spokesman said Korean trade minister Rha Woong-Baes stand in Washington yesterday against pressure from industrial nations to revalue the ... | KOREA PLANS TO OPEN MARKETS TO EASE WON PRESSURE |
Security Services Plc a unit of Securicor Group Plc is seeking a 50 mln stg multi-option facility County NatWest Capital Markets said as arranger. The facility will be for seven years and will allow the borrower to issue multi-currency advances and sterling acceptances through a tender panel. There will be an underwrit... | SECURICOR UNIT SEEKS 50 MLN STG CREDIT FACILITY |
Call money eased to 3.75/80 pct from 3.80/85 yesterday following a net injection of 6.7 billion marks at a rate of 3.80 pct in fresh funds from this weeks securities repurchase agreement dealers said. But rates were expected to rise toward the end of the week. A major tax payment period by banks on behalf of customers ... | GERMAN CALL MONEY EASES AFTER LIQUIDITY INJECTION |
Krupp Stahl AG <KRPB.F> said it will cut about 2000 of a total 18000 jobs by the end of 1987 and is considering reducing the work force by a further 3000 in subsequent years. The company which is 70.4 pct owned by Fried Krupp GmbH said the job losses were part of immediate and longer-term restructuring plans. The st... | KRUPP SAYS 2,000 STEEL JOBS TO GO THIS YEAR |
Borrowing on the international capital markets rose moderately in February with 25.9 billion dlrs of medium and long term funds raised up 1.5 billion from January and up 3.2 billion from February last year the Organisation for Economic Cooperation and Development OECD said. Borrowing on external bond markets totalled 2... | CAPITAL MARKET BORROWING ONLY MODERATE IN FEBRUARY |
Shr 21.2p vs 16.0p Div 4.75p making 8.25p vs 5.83p Pretax profit 505 mln stg vs 362 mln Turnover 4.02 billion vs 3.88 billion Tax 128 mln vs 85 mln Operating profit 527 mln vs 421 mln Operating profit includes - Other income 30 mln vs 41 mln Financial costs 52 mln vs 100 mln Minorities 25 mln vs 16 mln Earnings 352 mln... | BTR PLC <BTRX.L> 1986 YEAR |
A Turkish-West German joint venture Turk Henkel A.S. Issued the first commercial paper in Turkey through private Yapi ve Kredi Bankasi A.S. Bank officials said. A total of 500 mln lira of commercial paper of Turk Henkel A.S. Is on sale today Osman Erk deputy general-manager of Yapi ve Kredi Bankasi told Reuters. He sai... | FIRST COMMERCIAL PAPER ISSUED IN TURKEY |
The Tokyo Metropolitan Government said it would float a 100 mln dlr 10-year bond with a 7.5 pct coupon in New York its first Yankee bond issue in 21 years. The bond will be priced at 99.515 to yield 7.585 pct. The issue will be immediately swapped into Swiss francs putting actual interest rates at around four pct a Tok... | TOKYO TO ISSUE 100 MLN DLR BOND IN NEW YORK |
The yens rise against the dollar is expected to boost Japans unemployment rate to an average 3.3 pct in the 1987/88 fiscal year beginning April 1 from Januarys record three pct the private Nomura Research Institute said. The official 1987/88 estimate is 2.9 pct. The research arm of Nomura Securities Co forecast unemplo... | JAPAN'S JOBLESS SEEN RISING TO 3.3 PCT IN 1987/88 |
The Bank of China will become a card-issuing member of <Visa International> this year Visas chief general manager for Asia Carl Pascarella said in a statement. Visa is designing a card for China where international credit cards are accepted but not yet issued. He said Visa was developing training programs for the ba... | BANK OF CHINA TO JOIN VISA INTERNATIONAL |
A one billion stg tranche of 8-3/4 pct Treasury Loan stock due 1997 was exhausted in very early trading on the U.K. Government bond market only minutes after becoming available for trading dealers said. The Bank of England said the issue announced on Monday and available for official dealings from this morning was no l... | U.K. ONE BILLION STG BOND TRANCHE EXHAUSTED |
Indonesia signed an agreement to borrow up to 150 billion yen in an untied yen loan from Japans governmental Export-Import Bank a bank spokesman said. The accord on the loan for Indonesias 21 development projects was signed by the visiting Indonesian Finance Minister Radius Prawiro and Ex-Im President Takashi Tanaka th... | JAPANESE 150 BILLION YEN LOAN FOR INDONESIA |
The Bank of Spain has extended the reserve requirement for banks to their convertible peseta funds in an attempt to curb speculation in short-term capital which is currently fuelling money supply growth. In a statement issued late last night the central bank said convertible peseta accounts funds which are not subject ... | SPAIN EXTENDS RESERVE REQUIREMENT |
Iraq said today its forces had crushed an Iranian attack on a strategic mountain peak in a rugged and snow-clad area of Iraqi Kurdistan. The official Iraqi news agency INA said the attack was repelled yesterday by the Fifth Army Corps 96th Brigade on Karda Ku peak overlooking the northern post of Haj Omran and 340 kms ... | IRAQ SAYS IT CRUSHED IRANIAN ATTACK IN NORTH |
Hungary is to devalue the forint by an average of eight pct against Western currencies the official news agency MTI said. MTI did not say when the devaluation would become effective but it expected new rates to be announced later today. Hungary devalued the forint by a similar amount last September 23. Western bankers ... | HUNGARY TO DEVALUE FORINT AGAINST WESTERN UNITS |
Prices rose on the Danish bond market after Prime Minister Poul Schlueter said the government was prepared to impose further austerity measures to limit domestic consumption if the economy did not improve over the summer. A typical 20-year mortgage bond had risen to 81 by noon from 79-1/4 at the close last night. It is... | DANISH BOND PRICES RISE AFTER AUSTERITY PLEDGE |
Bank of Japan governor Satoshi Sumita said there is little room left for the central bank to further ease its credit policy as interest rates levels are now approaching their lower limit. The government should instead seek ways of making the best use of its fiscal policy he told a press conference. His remarks were con... | SUMITA SAYS LITTLE ROOM FOR BANK TO EASE POLICY |
Gunze Sangyo Inc of Tokyo is issuing 25 mln Swiss francs of five year convertible notes with a 1-1/2 pct coupon lead manager Swiss Volksbank said. The conversion price has been set at 463 yen per share compared with todays 450 yen close. Payment is due March 30. REUTER | GUNZE SANGYO ISSUING 25 MLN SWISS FRANC NOTES |
The Finance Ministry said its auction yesterday of 1000 billion yen of tankoku six-month debt financing paper produced a record low average yield of 3.246 pct on aggressive bidding from securities houses. The tankoku mature on September 21 1987. The previous record low was 3.383 pct at the last auction on February 12. ... | JAPAN TANKOKU YIELDS HIT RECORD LOW AT AUCTION |
Westpac Banking Corp and the Melbourne University Institute of Applied Economic and Social Research said their leading index of Australian economic activity rose for the ninth successive month in December. The index rose to 134.1 (base 1980) from 129.8 in November and 122.8 a year earlier the Westpac-Institute report s... | AUSTRALIA LEADING INDEX CONTINUES RISE IN DECEMBER |
Japan cannot bear a further rise of the yen Foreign Minister Tadashi Kuranari said. A further stronger yen would be a misfortune for Japan and the Japanese people would not be able to bear such a burden he told reporters. The minister said he wants to tell U.S. Political leaders of the sacrifices Japan is making to cut... | JAPAN CANNOT BEAR FURTHER YEN RISE, MINISTER SAYS |
The Bank of England said it did not operate in the money market during the morning. Initially the bank forecast a liqudity shortage of some 300 mln stg for the market today. Overnight interbank sterling traded at the 11-1/4 1/8 pct level for most of the morning while period rates have eased on the strength of sterling ... | BANK OF ENGLAND DOES NOT INTERVENE IN MONEY MARKET |
The U.S. is urging reluctant commercial banks to seriously consider accepting a novel Philippine proposal for paying its interest bill and believes the innovation is fully consistent with its Third World debt strategy a Reagan administration official said. The officials comments also suggest that debtors pleas for inte... | U.S. URGES BANKS TO WEIGH PHILIPPINE DEBT PLAN |
Interest in the currency futures market has shifted to the soaring British pound and the potentially explosive Canadian dollar and away from the dull Continental and Japanese currencies analysts said. The June pound which added 6.3 cents over the past week-and-a-half to reach a new contract high of 1.5930 to the dollar... | POUND AND CANADIAN DOLLAR CAPTURING ATTENTION |
The stg convertible bond issue launched Monday for Storehouse PLC <STHL.L> was raised to 69 mln stg from the original 60 mln co-lead Swiss Bank Corp International said. County NatWest Capital Markets is the other co-lead manager. The coupon has been fixed at 4-1/4 pct. The conversion price into Storehouse ordinary s... | STOREHOUSE CONVERTIBLE BOND RAISED TO 69 MLN STG |
European Community Commission President Jacques Delors said he met with strong objections from some EC government heads to his radical plan for changes to Community financing. In a speech to the European Parliament Delors said some EC leaders told him on a recent tour they could not easily allow additional resources fo... | DELORS REPORTS STRONG OBJECTIONS TO EC CASH PLAN |
NEW WORLD PICTURES TO HAVE GAIN FROM SALE OF FIVE PCT OF TAFT BROADCASTING | |
Jamaica agreed in principle with its bank advisory committee on a rescheduling of 181 mln dlrs of foreign commercial bank debt falling due between 1987 and 1989 the Jamaican Information Service said. Repayments on the debt will be stretched out over 12 years with 8-1/2 years grace at 1-1/4 percentage points over the Lo... | JAMAICA AGREES DRAFT BANK DEBT RESCHEDULING |
Lower production of coconut and palm oils could lead to a decline in vegetable oil stocks this year despite growing supplies of oilseeds senior oilseeds analyst for Merrill Lynch Capital Markets Mario Balletto said. Balletto told a conference of Canadian farmers at Alberta Agricultures annual farm outlook conference th... | VEGETABLE OILS MAY TIGHTEN DESPITE SEED SURPLUS |
Portugals trade deficit narrowed in 1986 to 336.5 billion escudos from 354.8 billion in 1985 according to provisional National Statistics Institute figures. Imports totalled 1412.6 billion escudos and exports 1076.1 billion compared with 1326.5 billion and 971.7 billion in 1985. Expressed in terms of dollars imports ro... | PORTUGUESE TRADE DEFICIT NARROWS IN 1986 |
Brazils central bank governor Francisco Gros will meet senior commercial bankers here today in a new attempt to defuse the anger generated by the countrys unilateral suspension of interest payments on 68 billion dlrs of foreign commercial bank debt bankers said. Gros will meet representatives of Citibank the head of Br... | BRAZIL'S GROS TO MEET BANKS ON TRADE LINE ISSUE |
Oper shr profit five cts vs loss 1.71 dlrs Oper net profit 196000 vs loss 2388000 Sales 40.5 mln vs 43.2 mln Avg shrs 2212000 vs 1482000 Year Oper shr profit 71 cts vs loss 6.24 dlrs Oper net profit 1799000 vs loss 8991000 Sales 154.5 mln vs 145.0 mln NOTE: Net excludes losses from discontinued operations of 712000 dlr... | SERVICE RESOURCES CORP <SRC> 4TH QTR NET |
Axlon Inc said Austin C. Marshall has been named president and co-chief executive officer sharing power in the latter post with founder and chairman Nolan K. Bushnell. The company said Marshall who had been executive vice president of New York toy company Playtime will have responsibility for the distribution of toys a... | AXLON <AXLN> NAMES CO-CHIEF EXECUTIVE OFFICER |
Oper shr 22 cts vs 22 cts Oper net 2058000 vs 2129000 Revs 44.5 mln vs 35.7 mln Avg shrs 9589000 vs 9348000 Year Oper shr 94 cts vs 94 cts Oper net 8889000 vs 8570000 Revs 155.0 mln vs 123.4 mln Avg shrs 9450000 vs 9174000 NOTE: Net excludes discontinued operations gain 1637000 dlrs vs loss 720000 dlrs in quarter and g... | TELEPHONE AND DATA SYSTEMS INC <TDS> 4TH QTR NET |
China welcomed a U.S. Supreme Court decision dismissing claims by holders of 41 mln dlrs of pre-1949 Chinese bonds but U.S. Officials said Peking has a long way to go before it can issue bonds in the U.S. A Foreign Ministry spokesman told a news briefing that China welcomed a Monday court ruling which rejected a petiti... | CHINA WELCOMES U.S. COURT BOND DECISION |
New World Pictures Ltd said it sold 456900 shares or about five pct of Taft Broadcasting Co common stock for a gain of 17.8 mln dlrs. The company said in a brief statement that it acquired the stock in late 1986. It gave no further details and company officials were not immediately available for comment. On Friday Taft... | NEW WORLD PICTURES <NWP> SELLS TAFT <TFB> STAKE |
Los Angeles Securities Group said the National Association of Securities Dealers intends to delist its securities effective tomorrow because the NASD believes that market-making sales of the companys securities by its Los Angeles Securities brokerage subsidiary are not being made under an effective registration stateme... | NASD TO DELIST LOS ANGELES SECURITIES <LASG> |
Canadian Prime Minister Brian Mulroney announced a major shakeup in the ranks of his key advisers after weeks of continuing criticism of his government. Mulroney announced the departure of his senior policy advisor the resignation of his press secretary and the reassignment of his communications director. Mulroneys Pro... | CANADA'S MULRONEY MAKES SENIOR STAFF CHANGES |
The borrowing limit of the Hong Kong Exchange Fund set up to regulate the value of the Hong Kong dollar has been raised to 50 billion H.K. Dlrs from 30 billion by the legislature an official statement said. The limit governs total borrowing by the fund from the governments general revenue account and various funds as w... | HONG KONG RAISES EXCHANGE FUND BORROWING LIMIT |
The Reagan administration is totally opposed to recent Democratic suggestions that securities transactions should be taxed to help curb the budget deficit an administration official said in an interview. Were totally opposed to a securities transfers tax. It would impair the efficiency of some of the most efficient mar... | OFFICIAL SAYS REAGAN OPPOSES SECURITIES TAX |
The London Commodity Exchange (LCE) has put back the date at which it will move to its new premises in Commodity Quay to end-May from the intended early April launch an LCE spokeswoman said. The move has been delayed as the installation of telecommunication facilities is running behind schedule due to the recent Britis... | LCE MOVE TO NEW PREMISES DELAYED TO END-MAY |
There is little chance Soviet exports to the United States will rise in 1987 but Moscows current trade reforms should result in more trade in manufactured goods in future a Soviet economist said. Sergey Frolov chief economist at Amtorg Trading Corp an agent for Soviet trade organisations and industries told a U.S.-USSR... | SOVIET ECONOMIST SEES FEW GAINS IN U.S. TRADE |
Sight deposits of commercial banks at the Swiss National Bank fell 2.88 billion Swiss francs in the first 10 days of March to 7.65 billion the National Bank said. Foreign exchange reserves rose 3.30 billion francs to 33.94 billion. Sight deposits are a major indicator of money market liquidity in Switzerland. The Natio... | SWISS SIGHT DEPOSITS FALL 2.88 BILLION FRANCS |
U.S. Commercial banks are expected to receive Finance Ministry approval in late April to operate securities subsidiaries in Japan U.S. Bank officials said. A senior official at one of four prospective banks said the ministry told his bank it would give approval as long as the parent firm holds no more than 50 pct of th... | U.S. BANKS TO GET APPROVAL FOR SECURITIES BUSINESS |
Ecuador needs 120 mln dlrs to repair the damage to its oil export pipeline caused by last weeks earthquake which will stop crude exports for five months energy and mines minister Javier Espinosa Teran said. Espinosa said yesterday the pipeline which carries crude from jungle fields to the Pacific Ocean coast of Balao w... | ECUADOR CRUDE OIL EXPORTS STOPPED FOR FIVE MONTHS |
Oper shr seven cts vs 20 cts Oper net 347855 vs 787117 Revs 6748868 vs 6849499 Avg shrs 5391666 vs 4277157 Year Oper shr 56 cts vs 46 cts Oper net 2617528 vs 2003661 Revs 27.1 mln vs 27.3 mln Avg shrs 4763793 vs 3377157 NOTE: Net excludes realized gains on investments of 925576 dlrs vs 577389 dlrs in quarter and 177634... | SOUTHLIFE HOLDING CO <SLHC> 4TH QTR NET |
The International Monetary Fund has warned Israel in a report that a continued rapid rise in wages could undo the achievements of its economic stabilization program in controlling hyperinflation. An IMF delegation which visited Israel this week issued an interim report praising Israels success in slashing inflation fro... | IMF WARNS ISRAEL PAY RISES MAY THREATEN STABILITY |
The Algerian authorities have regulated the addition of chickpeas and barley used to make imported coffee go further the official APS news agency reported. Taking advantage of scarcity private roasters were selling ground coffee mixtures which were 75 pct non-coffee it said. Since the beginning of March the coffee mark... | ALGERIA REGULATES USE OF COFFEE ADDITIVES |
Foreign Secretary Joe Clark urged the United States to take firm action on reducing acid rain and on sticking with the strict interpretation of the Anti-Ballistic Missile Treaty but said he won no promises. After a day of meetings with Vice President George Bush Secretary of State George Shultz and Commerce Secretary M... | CLARK HOLDS TALKS WITH SHULTZ IN WASHINGTON |
The National Weather Service said heavy afternoon and evening rainfall caused a threat of flooding over portions of Texas. There were reports of more than two inches of rain falling across Terrall and Val Verde counties during the afternoon which caused street and highway flooding. A coastal flood watch was also posted... | FLOOD THREAT IN TEXAS |
U.S. banks and savings and loan institutions could face important changes as a result of emergency legislation adopted overwhelmingly by the Senate Banking Committee. The bill approved 12-6 yesterday would rescue the underfunded federal deposit insurance fund for thrifts and temporarily halt new developments in the pro... | U.S. BANKS, THRIFTS FACE CHANGE FROM SENATE BILL |
The oil services industry is on the verge of a recovery because of rising crude prices oil industry analysts said. The analysts who issued buy recommendations on some stocks said the recovery in oil services should begin in the second half of 1987 after drilling activity bottoms out in the first half and continue into ... | TALKING POINT/OIL SERVICES TURNAROUND SEEN |
Creditanstalt-Bankverein <CABV.VI> is likely to raise its 1987 dividend from the 1986 payment of 12 pct of share capital deputy general-director Guido Schmidt-Chiari said. The 1985 dividend was 10 pct unchanged from the previous year and Schmidt-Chiari noted that the parent banks share capital had risen to 3.1 billi... | CREDITANSTALT SEES HIGHER 1987 DIVIDEND |
CPC International Inc said it has agreed in principle to sell its Peterson/Puritain Inc subsidiary to Hi-Port Industries Inc. CPC said the sale is not expected to have a significant impact on its earnings and is subject to approval by boards of both companies. Terms were not disclosed. Peterson/Purittan is a contract p... | CPC <CPC> TO SELL UNIT TO HI-PORT <HIPT> |
Gynex Inc said distributor Monsanto Co <MTC> has recalled at Gynexs request two generic oral contraceptives developed by 50 pct-owned Gynex Laboratories Inc because some packages may contain out of order or missing tablets. The company said privately-held <Watson Laboratories Inc> owner of the other 50 pct of Gyn... | GYNEX <GYNXU> RECALLING ORAL CONTRACEPTIVES |
Foreign Minister Tadashi Kuranari has cancelled a trip tomorrow to the U.S. Because of continued confusion in the Japanese Parliament Foreign Ministry officials said. The cancellation comes just as the U.S. Congress is to consider legislation aimed at cutting Americas mammoth trade deficit much of which is with Japan. ... | JAPAN FOREIGN MINISTER CALLS OFF TRIP TO THE U.S. |
Shanghai plans to rely on soft loans to finance a number of large-scale projects in the city including an underground railway system Mayor Jiang Zemin said. Jiang told Reuters general manager Michael Nelson that he hoped work on the railway system to ease Shanghais transport problems would start within two years. Other... | SHANGHAI PLANS SOFT LOANS TO FINANCE MAIN PROJECTS |
Shr 47 cts vs 40 cts Net 4258000 vs 5942000 Revs 92.6 mln vs 77.1 mln Avg shrs 8977000 vs 15.0 mln Year Shr 1.22 dlrs vs 1.34 dlrs Net 16.4 mln vs 20.0 mln Revs 329.1 mln vs 272.1 mln Avg shrs 13.5 mln vs 15.0 mln NOTE: Interest expense 4384000 dlrs vs 545000 dlrs in quarter and 6979000 dlrs vs 2425000 dlrs in year. 19... | PULITZER PUBLISHING CO <PLTZC> 4TH QTR NET |
HUGHES TOOL SAYS IT APPROVES REVISED TERMS FOR MERGER WITH BAKER INTERNATIONAL | |
OPEC has reaffirmed its commitment to fixed crude oil prices of around 18 dlrs a barrel and an overall output ceiling of 15.8 mln barrels per day (bpd) to defend prices its president Rilwanu Lukman said. He told a news conference here After due consultation with my colleagues in OPEC I hereby wish to emphasize that Nig... | OPEC REAFFIRMS COMMITMENT TO FIXED PRICES, CEILING |
Dutch port and transport union FNV is presenting its case against 800 planned redundancies in Rotterdams general cargo sector to parliaments standing committee on social affairs today a union spokesman said. With 285 of the 4000-strong workforce on strike the union will tell the committee the government has a duty to h... | DUTCH PORT UNION TO MEET PARLIAMENTARIANS TODAY |
<Qintex America Ltd> said it is again extending its offer of 13 dlrs a share for 3.3 mln Princeville Development Corp shares until today from yesterday. At midnight yesterday 7242117 Princeville shares had been tendered up from 5887165 shares 24 hours earlier. Qintex said it is extending the offer to allow Princevil... | QINTEX AGAIN EXTENDS PRINCEVILLE <PVDC> OFFER |
St. Joe Gold Corp said it plans to proceed with development of its Golden Patricia gold property in northwestern Ontario. It said about five mln dlrs will be spent to continue underground development and obtain operating permits and another 10.2 mln dlrs is expected to be required to complete underground development co... | ST. JOE GOLD <SJG> TO DEVELOP MINE |
Novell Inc said its board declared a two-for-one stock split payable to holders of record at the close of business on MArch 31. It said shareholders at the annual meeting approved a doubling of authorized common shares to 30 mln from 15 mln and a limitation of directors liability. Reuter | NOVELL <NOVL> SETS TWO FOR ONE STOCK SPLIT |
Thousands of people evacuated from two towns in flood-hit southern New Zealand began returning to their homes late today as the waters began to recede. A state of emergency had been declared in Southland province apart from the city of Invercargill and its port Bluff as rivers rose over four meters above normal after t... | FLOOD THREAT EASES IN SOUTHERN NEW ZEALAND |
Johnson and Johnson said the U.S. Food and Drug Administration has notified the company its food additive petition for a high-intensity sweetener has been formally accepted and now will be reviewed by the agency. The company said the product with the generic name of sucralose is made from sugar and tastes like sugar bu... | AGENCY TO REVIEW JOHNSON/JOHNSON <JNJ> SWEETNER |
Heart Federal Savings and Loan Association said its board declared a two-for-one stock split payable April 30 to holders of record April 15. The company said the split is subject to shareholder approval at the April 15 annual meeting of an increase in authorized common shares to 10 mln from five mln. Reuter | HEART FEDERAL <HFED> SETS TWO FOR ONE SPLIT |
Pre-tax income 788 mln Danish crowns vs 872 mln Sales 4.21 billion crowns vs 4.11 billion Income after tax 521 mln crowns vs 604 mln Earnings per 20-crown share 20.45 crowns vs 23.79 Dividend 20 pct (unchanged). Reuter | NOVO INDUSTRI A/S (NVO.CO) YEAR 1986 |
Qtly div 10 cts vs 10 cts in prior qtr Payable March 31 Record March 23 Reuter | OVERMYER CORP <OMCO> REGULAR DIVIDEND |
The European Court in Luxembourg has ruled a so-called Christmas butter scheme under which surplus stocks were sold off cheaply did not infringe European Community (EC) rules a Commission spokesman said. The spokesman said the Court rejected a case brought by three European margarine manufacturers which argued the EC E... | EC COURT RULES IN FAVOUR OF CHEAP BUTTER PLAN |
Shr 18 cts vs 14 cts Net 556036 vs 403945 Sales 15.6 mln vs 13.6 mln Avg shrs 3132555 vs 2934285 Year Shr 60 cts vs 48 cts Net 1805229 vs 1400247 Sales 60.1 mln vs 52.3 mln Avg shrs 3012917 vs 2940219 NOTE: 1985 share data adjusted to reflect three for two stock split effective June 30 1986 Reuter | UNIFORCE TEMPORARY PERSONNEL INC <UNFR> 4TH QTR |
Japanese car makers will curb their exports to the European Community (EC) following an unofficial directive from the Ministry of International Trade and Industry (MITI) automobile industry sources said. Some sources said exports to the EC this year are likely to be at most unchanged from last years 1.10 mln units and ... | JAPAN TO CURB VEHICLE EXPORTS TO EC |
The Bank of England said it gave the money market assistance worth 106 mln stg this afternoon buying bank bills at the rates established on Monday. The Bank bought 11 mln stg of band one bills at 10-3/8 pct and 95 mln stg of band two paper at 10-5/16 pct. This is the first time that it has intervened today. The Bank ha... | U.K. MONEY MARKET GIVEN 106 MLN STG ASSISTANCE |
Shr 45 cts vs 50 cts Net 18.0 mln vs 19.9 mln Sales 116.1 mln vs 108.8 mln Year Shr 1.01 dlrs vs 1.04 dlrs Net 39.8 mln vs 41.1 mln Sales 304.5 mln vs 278.1 mln NOTE: Share adjusted for three-for-two split in June 1986. Reuter | PIC'N'SAVE CORP <PICN> 4TH QTR NET |
GOODYEAR TIRE TO RECEIVE 588 MLN DLRS FOR GOODYEAR AEROSPACE FROM LORAL CORP | |
Hughes Tool Co said its board voted at a special meeting last night to approve a new agreement with regulators that would allow the company to complete its proposed merger with Baker International Corp <BKO>. The agreement approved by the U.S. Department of Justice yesterday will give the merged company Baker Hughes... | HUGHES TOOL <HT> BOARD APPROVES MERGER |
Lorimar Telepictures Corp said it accepted resignations of three executives at Karl-Lorimar Home Video its wholly owned subsidiary. The company said Stuart Karl president and chief executive officer; Court Shannon executive vice president and Gary Hunt vice president sales resigned effective immediately. Lorimar said i... | LORIMAR TELEPICTURES <LT> EXECUTIVES RESIGN |
Johnson and Johnson said the U.S. Food and Drug Administration has notified the company its food additive petition for a high-intensity sweetener has been formally accepted and now will be reviewed by the agency. The company said the product with the generic name of sucralose is made from sugar and tastes like sugar bu... | AGENCY TO REVIEW JOHNSON AND JOHNSON SWEETENER |
Senators and a special prosecutor were in dispute today over a legal maneuver to force quick answers from key figures in the Iran arms scandal and the diversion of profits to Nicaraguan rebels. Senators on a special Senate committee investigating the scandal want to grant limited immunity from prosecution to force earl... | SENATORS, PROSECUTOR DISAGREE ON IRAN TESTIMONY |
HANSON TRUST PLC UNIT TO SELL KAISER CEMENT TERMINAL AND PLANT FOR 50 MLN DLRS | |
Triton Energy Corp said its 70 pct owned <Canadian Worldwide Energy Ltd> affiliates Lasmo et al Tableland 4-36-2-10W2 well in Saskatchewan flowed 567 barrels of 37 degree gravity oil through a 17/64 inch choke from depths of 8531 to 8548 feet and 636 barrels of oil per day through a 20/64 inch choke from depths of 8... | TRITON ENERGY <OIL> AFFILIATE IN CANADIAN FIND |
National Bank of Hungary first vice-president Janos Fekete said he hoped a planned eight pct devaluation of the forint will spur exports and redress last years severe trade deficit with the West. Fekete told Reuters in an interview Hungary must achieve at least equilibrium on its hard currency trade. It is useful to ha... | HUNGARY HOPES DEVALUATION WILL END TRADE DEFICIT |
Ecuadors deputy energy minister Fernando Santos Alvite arrived here last night for talks on further Venezuelan assistance to his countrys oil industry following last weeks earthquake officials said. Ecuador was obliged to suspend crude oil exports for an expected five months as a result of damage to 25 miles of pipelin... | ECUADOR DEPUTY MINISTER SEEKS OIL AID IN VENEZUELA |
Chicago Mercantile Exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 308000 head versus 305000 week ago and 308000 a year ago. Cattle slaughter is guesstimated at about 128000 to 132000 head versus 130000 week ago and 126000 a year ago. Reuter | HOG AND CATTLE SLAUGHTER GUESSTIMATES |
Goodyear Tire and Rubber Co said it will receive about 588 mln dlrs in cash from Loral Corp <LOR> for the business of Goodyear Aerospace Corp. Goodyear said the previously announced acquisition by Loral is expected to be completed March 13. When Loral announced the transaction January 12 the company said it was payi... | GOODYEAR <GT> TO RECEIVE 588 MLN DLRS FOR UNIT |
Raab Karcher AG a trading subsidiary of VEBA AG <VEBG.F> said it increased operating profit in 1986 despite a sharp decline in turnover and added there were good chances this profit level could be held in 1987. Operating profit rose to just under 120 mln marks in 1986 from around 100 mln in 1985. However the groups ... | VEBA'S RAAB KARCHER RAISES 1986 OPERATING PROFIT |
Hovnanian Enterprises Inc said its board of directors has declared a two-for-one split of its outstanding common stock. The company said shareholders will receive one additional share for each share held at the close of business on March 23 1987 and additional shares will be distributed on April 13 1987. Reuter | HOVNANIAN ENTERPRISES <HOV> SPLITS STOCK |
British Aerospace Plc <BAEL.L> said it has increased its stake in <Systems Designers Plc> to 22.1 pct or 25.46 mln ordinary shares following the purchase of 10.45 mln ordinary shares. The British Aerospace Pension Fund holds 2.15 mln ordinary shares in Systems representing a stake of 1.9 pct. A spokesman for Brit... | BRITISH AEROSPACE RAISES SYSTEM DESIGNERS STAKE |
CIGNA Corp said it has fixed April 24 as the date for the previously-announced redemption of its 99.8 mln dlrs of outstanding eight pct subordinated exchangeable debentures due December 1 2007 at 105.867 pct of par plus accrued interest. The debentures are exchangeable through the redemption date into 29.205 common sha... | CIGNA CORP <CI> SETS DATE FOR DEBT REDEMPTION |
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