text stringlengths 1 3.86k |
|---|
prices also were boosted by another rumor that mexico usually a large producer and exporter might have to buy a large quantity of sugar |
although traders rushed to buy futures contracts many remained skeptical about the brazilian development which could n't be confirmed analysts said |
the march and may contracts rose to fresh <unk> highs of N cents and N cents at their best levels of the day |
the march delivery which has no limits settled at N cents up N cent a pound |
the may contract which also is without restraints ended with a gain of N cent to N cents |
the july delivery rose its daily permissible limit of N cent a pound to N cents while other contract months showed <unk> advances |
according to reports carried by various news services the brazilian government told its sugar producers that they wo n't be allowed to export sugar during the current N season which began may N and the N season so that it can be used to produce alcohol for automobile fuel |
one analyst arthur stevenson of prudential-bache securities new york estimated that N N or more of brazil 's newly made automobiles run on alcohol and ca n't use gasoline |
this is a demand that must be met regardless of the price of oil said mr. stevenson |
brazil is the third-largest producer and the <unk> exporter of sugar in the world |
a shift to producing more alcohol and less sugar had been expected but the latest news if true indicates a more drastic shift than had been anticipated |
during the current crop year brazil was expected to produce N million tons of sugar a drop from N million tons in N |
its N exports were expected to total N tons in contrast to shipments of N million tons in |
it is these N tons that are in question for this crop year explained <unk> <unk> analyst for shearson lehman hutton new york |
producers were granted the right earlier this year to ship sugar and the export licenses were expected to have begun to be issued yesterday |
as a result ms. <unk> said it is believed that little or no sugar from the N crop has been shipped yet even though the crop year is six months old |
more than a half of all sugar produced in brazil goes for alcohol production according to ms. <unk> |
also there has been a switch in the past decade to <unk> of orange trees in areas that were previously used for cane and this change is being felt now she said |
most important ms. <unk> noted brazilian officials said that no decision has as yet been made on the suspension of exports |
thomas <unk> sugar analyst for painewebber in <unk> n.j. said i am highly skeptical that brazil will curtail sugar exports particularly with the price of sugar at over N cents a pound |
above all mr. <unk> noted the situation is extremely confused |
professional sugar people here who have strong contacts with the brazilian sugar industry have been unable to confirm the reports or get enough information to clarify the situation he said |
it 's the type of nervous atmosphere in which a report can be put out such as the one saying exports will be suspended and no one can confirm it |
mr. <unk> observed that the situation in brazil is also very complicated |
on the one hand brazil started an <unk> program about N years ago to fuel a huge portion of its national fleet of cars and is now committed to this program |
it has to weigh on the other hand the relatively high price of sugar it can earn on the export market in making decisions as to whether to produce sugar or alcohol mr. <unk> said |
mexico which is normally a sugar exporter has had production problems in the past two years analysts said |
last year it had to buy sugar on the world market to meet export commitments they noted |
this year it is expected to be a net importer and is said to be seeking to buy about N tons of sugar to meet internal needs analysts said |
in other commodity markets yesterday |
energy |
petroleum futures were generally higher with heating oil leading the way |
on the new york mercantile exchange heating oil for december delivery increased N cents to settle at N cents a <unk> |
gasoline futures were mixed to unchanged |
but the strength in heating oil helped push up crude oil |
west texas intermediate crude for december delivery rose N cents a barrel to settle at $ N |
the <unk> in heating oil was attributed to <unk> weather in parts of the u.s. and to the latest weekly report by the american petroleum institute which showed a decline in inventories of the fuel |
grains and soybeans |
prices closed mostly higher in relatively light trading as farmers continued to <unk> their crops from the marketplace in the hope of higher prices to come |
trading was <unk> in part because of the <unk> of all <unk> ' day across much of europe |
continued export demand also supported prices |
as an indicator of the tight grain supply situation in the u.s. market analysts said that late tuesday the chinese government which often buys u.s. grains in quantity turned instead to britain to buy N metric tons of wheat |
traders said prices also were supported by widespread rumors that the soviet union is on the verge of receiving most favored nation status from the u.s. |
that <unk> would among other things provide more generous credit terms under which the soviets could purchase grain |
the soviets are widely believed to need additional supplies despite running up record <unk> purchases of N million <unk> of corn in october |
copper |
futures prices rose extending tuesday 's gains |
the december contract advanced N cents a pound to $ N |
buying for the most part carried over from the previous session and traders apparently ignored reports that a <unk> mine strike may have ended almost before it began an analyst said |
according to news service reports most workers at the <unk> mines owned by exxon corp. agreed to a new two-year wage contract that includes a N N increase and other benefits |
however some workers have n't yet accepted the new contract and are continuing negotiations the analyst said |
separately reuter reported that the <unk> guinea government urged its parliament to extend a state of emergency in <unk> bougainville island for two months |
the bougainville copper mine has been <unk> since may N because of attacks by native <unk> who want bougainville to <unk> from <unk> guinea |
the parent of younkers after failing to find a buyer for the chain of midwestern department stores said it will sell a stake in the chain to management and take other steps to reduce its investment in retailing |
equitable of iowa cos. des <unk> had been seeking a buyer for the <unk> younkers chain since june when it announced its intention to free up capital to expand its insurance business |
but equitable said it was unable to find a buyer willing to pay what it considers fair value for younkers because of recent turmoil in the bond and stock markets and in retailing |
younkers <unk> up sales in N of $ N million |
it operates stores mostly in iowa and nebraska |
younkers management is likely to buy a N N to N N interest in the chain in january said fred s. <unk> equitable 's president and chief executive officer |
he said equitable hopes to eventually reduce its stake in younkers to less than N N |
tony lama co. said that <unk> investment ii limited partnership has proposed changing the offer for the company to $ N in cash and stock from an <unk> transaction |
under terms of the new proposal <unk> managed by <unk> capital corp. houston would pay $ N cash and one new preferred share with a liquidation preference of $ N a share for each of tony lama 's N million shares outstanding |
previously it offered $ N a share in cash or $ N million |
the el paso texas maker of western <unk> and leather accessories said the preferred stock would <unk> dividends at a N N rate but would n't be paid for the first two years |
the stock would be redeemed in five years subject to terms of the surviving company 's debt |
neither <unk> nor tony lama gave a reason for the changed offer and tony lama could n't be reached for comment |
however tony lama said it would promptly submit the offer to a special committee of the company 's board |
reuters holdings plc said michael reupke resigned as general manager to pursue unspecified interests a move the news organization termed an amicable separation |
mr. reupke N years old and a <unk> reuters veteran had been the <unk> company 's general manager for only six months |
his appointment to that post which has senior administrative staff and policy responsibilities followed a <unk> tenure as reuters 's editor in chief |
no successor was named and mr. reupke 's duties will be split among three other senior reuters executives the company said |
in a telephone interview mr. reupke said his departure was for personal reasons which he declined to specify |
there is no business reason for my departure nor any disagreement over policy he added |
he also rejected reports that his departure stemmed from disappointment the general manager 's post had n't also led to a board <unk> at the london-based news organization |
mr. reupke was one of three executives on reuters 's <unk> executive committee who did n't also serve on the company 's board of directors |
if i were choosing the people of tomorrow i would have chosen the people who are now on the board he said |
a reuters spokesman said the departure reflects no change in strategy or profits |
mark <unk> an analyst at <unk> phillips & drew in london said i suspect the departure will be fairly irrelevant for the company |
i would be very surprised if his departure signals any change in strategy or change in profit expectations |
on london 's stock exchange reuters shares rose five pence to N pence $ N |
in the u.s. over-the-counter market american depositary shares for reuters each representing three shares in the london market closed unchanged at $ N |
the senior of the three executives who will assume mr. reupke 's duties is nigel <unk> N finance director and a reuters board director |
peter <unk> N deputy general manager becomes director of corporate affairs |
and patrick <unk> N international technical manager becomes director of group quality programs |
dd acquisition corp. a partnership of unicorp canada corp. 's <unk> capital group and cara operations ltd. extended to nov. N its $ <unk> offer for all <unk> donuts inc. shares outstanding |
the offer which was due to expire yesterday is conditional on N N of <unk> common shares on a fully diluted basis being tendered and on the withdrawal of the company 's poison pill rights plan |
dd acquisition has launched a suit in a delaware court seeking the withdrawal of dunkin 's poison pill rights and employee stock ownership plans which it claims were put in place to deter bidders |
dd acquisition said N million shares or about N N of the shares outstanding have been tendered under its offer |
the partners said they already hold N N of all shares outstanding |
<unk> has set nov. N as the deadline for the <unk> of any competing bids |
dd acquisition said the extension is to allow this process to be completed |
<unk> is based in <unk> mass |
cara a food services chain operator and unicorp a holding company are based in toronto |
<unk> corp. reported a third-quarter net loss of $ N million or N cents a share compared with year-earlier profit of $ N million or one cent a share |
a spokesman for the stamford <unk> company said operations had a loss of $ N million for the quarter in addition the loss was magnified by nonrecurring charges totaling $ N million and $ N million in <unk> adjustments that he described as unusual |
the charges were partly offset by a $ N million gain on the sale of investments of two joint ventures he said |
revenue declined N N to $ N million from $ N million a year earlier |
<unk> cited a general softening in the demand for office products in the market segments in which <unk> competes |
<unk> corp. said it expects to report a third-quarter net loss of $ N million to $ N million because of special reserves and continued low natural-gas prices |
the oklahoma city energy and defense concern said it will record a $ N million reserve for its defense group including a $ N million charge related to problems under a fixed-price development contract and $ N million in overhead costs that wo n't be <unk> |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.