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training/2907
|
training/2907 |@title mono:1 gold:1 say:1 partnership:1 agree:1 buy:1 share:1 |@word mono:2 gold:1 mines:1 inc:1 say:5 nim:2 co:1 ltd:1 partnership:2 agree:1 buy:2 flow:1 share:5 aggregate:1 purchase:1 price:2 300:2 000:3 dlrs:3 subject:1 fulfillment:1 certain:1 condition:1 79:1 6:1 ct:2 per:2 issue:1 376:1 955:1 also:1 option:2 capital:2 stock:1 65:1 expire:1 march:1 three:1 39:1 exercise:1 net:1 company:1 25:1 530:1 add:1 work:1
|
MONO GOLD SAYS PARTNERSHIP AGREES TO BUY SHARES
<Mono Gold Mines
Inc> said <NIM and Co Ltd> Partnership agreed to buy
flow-through shares with an aggregate purchase price of up to
300,000 dlrs.
It said, subject to fulfillment of certain conditions, the
price of the shares to NIM will be 79.6 cts per share, and said
it will issue 376,955 shares to the partnership.
Mono also said options to buy up to 300,000 dlrs of its
capital stock at 65 cts per share expire March three. It said
39,000 options have been exercised to net the company 25,530
dlrs to be added to working capital.
|
training/2908
|
training/2908 |@title uslico:1 corp:1 usvc:1 increase:1 dividend:1 |@word qtly:1 div:1 22:1 ct:2 vs:1 20:1 prior:1 payable:1 march:2 27:1 record:1 18:1
|
USLICO CORP <USVC> INCREASES DIVIDEND
Qtly div 22 cts vs 20 cts prior
payable March 27
Record March 18
|
training/2909
|
training/2909 |@title usair:2 group:2 request:2 transportation:2 department:2 order:2 twa:2 divest:2 stake:2 |@word
|
USAIR GROUP REQUESTS TRANSPORTATION DEPARTMENT ORDER TWA TO DIVEST STAKE
USAIR GROUP REQUESTS TRANSPORTATION DEPARTMENT ORDER TWA TO DIVEST STAKE
|
training/2912
|
training/2912 |@title diplomat:1 electronics:1 dpec:1 cut:1 cost:1 |@word diplomat:2 electronics:1 corp:1 say:4 reduce:1 expense:1 four:1 mln:2 dlrs:2 year:1 effort:1 stem:1 loss:1 return:1 positive:1 net:1 worth:1 company:2 also:1 certain:1 lender:1 agree:1 take:1 24:1 pct:1 stake:1 convert:1 seven:1 debt:1 prefer:1 stock:1 cut:1 cost:1 several:1 mean:1 include:1 dismissal:1 100:1 worker:1 corporate:1 headquarters:2 consolidation:1 warehousing:1 shipping:1 operation:1 reduction:1 management:1 salary:1 moreover:1 relocate:1 glendale:1 calif:1
|
DIPLOMAT ELECTRONICS <DPEC> TO CUT COSTS
Diplomat Electronics Corp said it
will reduce expenses by four mln dlrs a year in an effort to
stem losses and return to a positive net worth.
The company also said certain lenders agreed to take a 24
pct stake in the company by converting seven mln dlrs of debt
into preferred stock.
Diplomat said it will cut costs by several means, including
dismissal of 100 workers at its corporate headquarters,
consolidation of its warehousing and shipping operations and
reduction of management salaries. Moreover, it said it will
relocate its headquarters to Glendale, Calif.
|
training/2913
|
training/2913 |@title u:1 corn:2 grower:1 blast:1 canada:1 ruling:1 |@word canada:3 ruling:2 favor:1 duty:2 u:6 corn:11 keen:1 disappointment:1 national:1 growers:1 association:2 set:1 dangerous:1 precedent:1 nation:2 follow:1 say:6 mike:1 hall:6 lobbyist:1 french:3 grower:2 clearly:1 charge:2 ahead:1 change:1 gluten:3 feed:4 complaint:1 tell:1 reuters:1 canadian:3 government:2 agency:1 rule:1 today:1 farm:5 policy:2 cause:2 injury:2 farrmer:1 support:1 earlier:1 impose:1 countervail:1 85:1 ct:1 per:1 bushel:1 cleary:1 political:1 decision:1 amount:1 export:1 insignificant:1 unexpected:1 appear:1 base:2 agrument:1 price:4 future:1 american:1 drive:1 thus:1 low:1 farmer:1 large:1 payment:1 stabilization:1 program:3 new:1 definition:1 may:1 also:1 apply:1 argument:1 attack:1 could:1 create:1 unfair:1 subsidy:1 long:1 want:1 control:1 import:2 community:1 unfairly:1 displace:1 european:1 grain:1
|
U.S. CORN GROWERS BLAST CANADA CORN RULING
Canada's ruling in favor of a duty on
U.S. corn was a keen disappointment to the National Corn
Growers Association and has set a dangerous precedent for other
nations to follow, said Mike Hall, lobbyist for the
association.
'The French corn growers will clearly charge ahead now and
just change corn to corn gluten feed' in their complaint, Hall
told Reuters.
A Canadian government agency ruled today that U.S. farm
policies are causing injury to Canadian corn farrmers and
supported an earlier imposed countervailing duty of about 85
cts per bushel.
'This was cleary a political decision,' Hall said. 'The
amount of corn we export to Canada is insignificant.'
The unexpected ruling appeared to be based on the agrument
that Canada bases its corn prices on U.S. futures prices and
that American farm policy has driven down these prices, thus
causing lower prices to Canadian farmers and larger government
payments through its farm stabilization program, Hall said.
Hall said this is a new definition for injury, but that
other nations might also now apply this same argument to attack
U.S. farm programs.
The French corn growers could now charge that U.S. farm
programs create an unfair subsidy for corn gluten feed, Hall
said. The French have long wanted to control the imports of
U.S. corn gluten feed into the community, saying that the
imported feed was unfairly displacing European grain.
|
training/2915
|
training/2915 |@title dollar:1 general:1 corp:1 dolr:1 qtly:1 dividend:1 |@word qtly:1 div:1 five:2 ct:2 vs:1 prior:1 payable:1 april:1 three:1 reocrd:1 march:1 20:1
|
DOLLAR GENERAL CORP <DOLR> QTLY DIVIDEND
Qtly div five cts vs five cts prior
Payable April three
Reocrd March 20
|
training/2916
|
training/2916 |@title healthcare:1 services:1 hsai:1 see:1 write:1 |@word healthcare:3 services:1 america:1 inc:1 say:6 write:1 16:1 mln:6 dlrs:6 non:3 recur:1 expense:1 1986:2 also:2 expect:1 income:2 operation:1 breakeven:1 estimate:1 loss:1 year:2 writeoff:2 result:1 release:1 march:1 31:2 1987:1 include:1 six:2 developmental:1 cost:3 unamortized:1 loan:2 debt:1 discount:1 four:1 recurring:1 company:1 continue:3 default:1 certain:2 financial:2 covenant:1 set:1 forth:1 major:1 document:1 negotiation:1 bank:1 assurance:1 funding:1 authorize:2 smith:1 barney:1 harris:1 upham:1 co:1 seek:1 business:1 combination:1 third:1 party:1 board:1 sale:2 lease:1 asset:1 reduce:1 cash:1 require:1 revolving:1 credit:1 line:1 completion:1 current:1 construction:1 project:1 end:1 december:1 1985:1 report:1 net:1 3:1 5:1 54:1 4:1
|
HEALTHCARE SERVICES <HSAI> SEES WRITE-OFFS
Healthcare Services Of America
Inc said it will write off about 16 mln dlrs in non-recurring
expenses in 1986.
It also said it expects income from operations to be about
breakeven for 1986 and the estimated loss for the year to be
about the same as the writeoffs.
Results will be released by March 31, 1987.
Included in the writeoffs were six mln dlrs in
developmental costs, six mln dlrs in unamortized loan costs and
debt discounts and four mln dlrs in other non-recurring costs.
The company said it continues to be in default of certain
financial and non-financial covenants set forth in its major
loan documents.
It said negotiations continue with the banks, but has no
assurance that such funding will continue.
It said it authorized Smith barney, Harris Upham and Co to
seek a business combination with third parties.
Healthcare also said the board has authorized the sale or
lease of certain assets to reduce the cash required from the
revolving credit line for completion of current construction
projects.
For the year ended December 31, 1985 Healthcare reported
net income of 3.5 mln dlrs on sales of 54.4 mln dlrs
|
training/2917
|
training/2917 |@title usair:1 u:1 seek:1 order:1 twa:2 |@word usair:9 group:1 say:9 seek:1 help:1 u:1 department:4 transportation:3 takeover:2 fight:1 trans:1 world:1 airlines:1 inc:1 ask:2 order:1 twa:8 sell:1 share:3 direct:1 violation:1 federal:1 aviation:1 act:1 week:1 file:1 cursory:1 application:4 approval:1 propose:1 1:2 65:1 billion:1 dlr:1 reject:1 offer:1 dismiss:2 request:1 dismissal:1 avoid:1 pre:1 merger:1 notification:1 requirement:1 also:1 provide:1 competitive:1 public:1 interest:1 analysis:1 require:1 regulation:1 would:1 limit:1 buy:2 5:1 pct:4 31:1 7:1 mln:2 outstanding:2 approve:1 could:1 10:2 less:1 stock:1 today:1 reveal:1 increase:1 holding:1 four:1 15:1 vice:1 president:1 general:1 counsel:1 mark:1 buckstein:1 company:1 make:1 appropriate:1 filing:1 dot:1 compliance:1 law:1
|
USAIR <U> SEEKS ORDER AGAINST TWA <TWA>
USAir Group said it sought the help
of the U.S. Department of Transportation in its takeover fight
with Trans World Airlines Inc, asking the Department to order
TWA to sell its USAir shares.
'What they have done is in direct violation of the Federal
Aviation Act,' USAir said.
It said TWA week filed a cursory application with the
Department of Transportation for approval of its proposed 1.65
billion dlr takeover of USAir.
USAir rejected the offer and said it asked the Department
of Transportation to dismiss the application.
USAir said it requested the dismissal because TWA avoided
pre-merger notification requirements, and also did not provide
a competitive and public interest analysis required under
regulations.
USAir said if the application is dismissed, TWA would be
limited to buying only 1.5 pct of its 31.7 mln outstanding
shares. If the application is approved, TWA could buy up to 10
pct, it said. TWA has said it owns less than 10 pct of USAir's
stock.
TWA today revealed that it has increased its holdings to
more than four mln USAir shares, 15 pct of the outstanding.
TWA vice president general counsel Mark Buckstein said the
company had made appropriate filings with the DOT and was in
compliance with the law.
|
training/2918
|
training/2918 |@title park:1 ohio:1 industries:1 inc:1 pkoh:1 4th:1 qtr:1 net:1 |@word shr:2 loss:4 52:1 ct:2 vs:6 profit:4 1:4 07:1 dlr:3 net:4 2:2 917:1 000:6 5:2 963:1 revs:2 34:1 mln:4 40:1 3:1 year:1 39:1 24:1 7:1 749:1 6:2 946:1 138:1 186:1 note:1 1986:1 include:2 certain:1 non:1 recur:1 charge:1 506:1 dlrs:2 number:1 item:1 1985:1 4th:1 qtr:1 yr:1 extraordinary:1 credit:1 4:1 974:1 89:1 per:1 share:1
|
PARK-OHIO INDUSTRIES INC <PKOH> 4TH QTR NET
Shr loss 52 cts vs profit 1.07 dlr
Net loss 2,917,000 vs profit 5,963,000
Revs 34.1 mln vs 40.3 mln
Year
Shr loss 1.39 dlr vs profit 1.24 dlr
Net loss 7,749,000 vs profit 6,946,000
Revs 138.6 mln vs 186.2 mln
NOTE: 1986 net includes certain non-recurring charges of
about 5,506,000 dlrs for a number of items.
1985 4th qtr and yr net includes extraordinary credit of
4,974,000 dlrs or 89 cts per share.
|
training/2919
|
training/2919 |@title bmc:2 industries:1 inc:1 4th:1 qtr:1 loss:1 |@word shr:4 loss:8 1:4 20:1 dlrs:7 vs:6 97:1 net:2 6:3 248:1 000:2 10:1 2:2 mln:6 revs:2 33:1 give:2 year:3 25:1 13:2 44:1 508:1 69:1 123:1 4:1 note:1 result:1 include:1 charge:2 five:1 96:1 ct:1 1986:1 qtr:1 compare:1 72:1 94:1 prior:1 discontinue:1 operation:2 disposal:1 discontinued:1
|
BMC INDUSTRIES INC <BMC> 4TH QTR LOSS
Shr loss 1.20 dlrs vs loss 1.97 dlrs
Net loss 6,248,000 vs loss 10.2 mln
Revs 33.1 mln vs not given
Year
Shr loss 1.25 dlrs vs loss 13.44 dlrs
Net loss 6,508,000 vs loss 69.6 mln
Revs 123.4 mln vs not given
NOTE: Results include charges of five mln dlrs or 96 cts
shr for 1986 qtr and year, compared with charge of 72.2 mln
dlrs or 13.94 dlrs shr in prior year from discontinued
operations and disposal of discontinued operations.
|
training/2920
|
training/2920 |@title united:1 companies:1 uncf:1 declare:1 stock:1 dividend:1 |@word united:1 companies:1 financial:1 corp:1 say:1 board:2 declare:2 two:1 pct:1 stock:1 dividend:2 payable:2 april:2 eight:1 holder:2 record:2 march:2 17:1 also:1 regular:1 quarterly:1 cash:1 12:1 5:1 ct:1 one:1 16:1
|
UNITED COMPANIES <UNCF> DECLARES STOCK DIVIDEND
United Companies Financial Corp
said its board declared a two pct stock dividend payable APril
eight to holders of record March 17.
The board also declared a regular quarterly cash dividend
of 12.5 cts payable April one to holders of record March 16.
|
training/2922
|
training/2922 |@title u:1 farm:1 program:1 help:1 canadian:1 corn:1 producer:1 |@word american:1 farm:4 bureau:2 federation:1 afbf:2 official:1 say:2 far:1 hurt:1 canadian:3 corn:4 producer:3 u:5 program:2 benefit:2 foreign:2 president:1 dean:1 kleckner:1 make:1 comment:1 response:1 ruling:1 earlier:1 today:1 import:2 tribunal:2 subsidize:1 injurious:1 grower:1 uphold:1 countervail:1 duty:1 84:1 9:1 cent:1 bushel:1 specialist:1 go:1 ottawa:1 testify:1 previous:1 actually:1 reduce:1 amount:1 grow:1 lose:1 market:1 share:1 exert:1 upward:1 influence:1 price:1 worldwide:1
|
U.S. FARM PROGRAMS HELP CANADIAN CORN PRODUCERS
An American Farm Bureau
Federation (AFBF) official said that far from hurting Canadian
corn producers, U.S. farm programs benefit all foreign
producers.
AFBF president Dean Kleckner made the comments in response
to the ruling earlier today by the Canadian Import Tribunal
that subsidized U.S. corn imports were injurious to Canadian
growers. The tribunal upheld a countervailing duty of 84.9 U.S.
cents a bushel.
'Farm Bureau specialists went to Ottawa and testified
previous U.S. farm programs have actually benefited all foreign
producers by reducing the amount of corn grown in the U.S. (and
losing market share), while exerting an upward influence on the
price of corn Worldwide,' he said.
|
training/2923
|
training/2923 |@title u:1 n:1 issue:1 report:1 natural:1 gas:1 clause:1 |@word u:2 n:2 centre:1 transnational:2 corporation:2 issue:1 report:3 contain:2 guideline:1 recommendation:1 negotiate:1 natural:1 gas:4 clause:1 agreement:1 petroleum:2 host:1 country:1 say:1 aim:1 promote:1 exploration:1 area:1 perceive:1 prone:1 49:1 page:1 depth:1 examination:1 problem:1 developoment:1 look:1 different:1 way:1 contractual:1 term:1 may:1 deal:1 risk:1 development:1 associate:1 pricing:1 marketing:1 volume:1
|
U.N. ISSUES REPORT ON NATURAL GAS CLAUSES
The U.N. Centre on Transnational
Corporations has issued a report containing guidelines and
recommendations for negotiating natural gas clauses in
agreements between transnational petroleum corporations and
host countries.
The U.N. said the report was aimed at promoting petroleum
exploration in areas perceived as being gas prone. The 49-page
report contains an in-depth examination of the problems of gas
developoment and looks at different ways in which contractual
terms might deal with the risks in gas development associated
with pricing, marketing and volume.
|
training/2924
|
training/2924 |@title taft:1 tfb:1 bidder:1 would:1 sell:1 entertainment:1 unit:1 |@word propose:1 buyout:3 taft:11 broadcasting:3 co:3 dudley:2 investor:3 include:2 plan:3 sell:3 company:8 entertainment:3 group:6 accord:1 one:1 jonathan:1 nelson:3 manage:1 director:1 narragansett:3 capital:1 corp:2 narr:1 participate:1 decline:1 say:10 buyer:1 already:1 line:1 consider:1 wall:1 street:1 analyst:3 hollywood:1 film:1 studio:1 may:2 interested:1 comment:3 145:1 dlr:1 per:1 share:3 offer:1 9:1 2:2 mln:1 outstanding:1 12:2 pct:3 ingall:1 families:1 relinquish:1 title:1 president:1 july:1 continue:1 vice:1 chairman:1 requste:1 response:1 proposal:1 march:1 accept:1 would:2 private:1 finance:1 high:1 yield:1 bond:1 bank:1 debt:1 investment:1 management:1 specialize:1 leverage:1 transaction:1 climb:1 19:1 151:1 1:1 cause:1 arbitrageur:1 believe:1 bidder:1 raise:1 price:1 robert:1 bass:3 control:1 25:1 stock:1 american:1 financial:1 holder:1 15:1 return:1 telephohe:1 call:1 seek:1 dennis:1 mcalpine:1 oppenheimer:1 think:1 worth:2 150:1 dlrs:1 note:1 recently:2 agree:1 independent:2 television:2 station:2 loss:1 hanna:1 barbara:1 animation:1 studios:1 currently:1 hamper:1 glut:1 animated:1 product:1 never:1 report:1 major:2 stockholder:1 meet:1 discuss:1 break:1 macalpine:1 lot:1 option:1 reshape:1 distribution:1 various:1 piece:1 shareholder:1 among:1 possibilities:1 alan:1 gottesman:1 l:1 f:1 rothschild:1 unterberg:1 towbin:1 inc:1 increase:1 stake:1 belief:1 change:1 strategy:1 push:1 sale:1 pay:1 much:1
|
TAFT<TFB> BIDDERS WOULD SELL ENTERTAINMENT UNIT
A proposed buyout of Taft Broadcasting
Co by Dudley Taft and other investors includes a plan to sell
the company's Entertainment Group, according to one of the
investors.
Jonathan Nelson, managing director of Narragansett Capital
Corp <NARR>, which is participating in the buyout plan,
declined to say if buyers have already been lined up for the
Entertainment Group. 'We are considering selling the group,'
Nelson said. Wall Street analysts said any of the Hollywood
film studios which might be interested.
Taft Broadcasting Co did not comment on the 145 dlr per
share offer. Taft has 9.2 mln shares outstanding, of which 12
pct are owned by the Taft and Ingalls families.
Dudley Taft relinquished the title of president in July but
continues as vice chairman of the company.
Taft-Narragansett requsted a response to its proposal by
March 12.
If the plan is accepted, Taft would be a private company
financed by high yield bonds and bank debt, Nelson said.
Narragansett is an investment management company specializing
in leveraged buyout transactions.
Taft shares climbed 19 to 151-1/2, causing arbitrageurs to
say investors believe the bidders may raise their price.
Robert M. Bass, who controls 25 pct of the stock, and
American Financial Corp, holder of 15 pct, did not return
telephohe calls seeking comment.
But Dennis McAlpine, analyst at Oppenheimer and Co, said 'I
don't think it's worth 150 dlrs.' He noted Taft recently agreed
to sell a group of independent television stations at a loss.
He said the entertainment group, which includes the
Hanna-Barbara animation studios, is currently hampered by a
glut of animated product.
Taft Broadcasting has never commented on reports that its
major stockholders met recently to discuss a break-up of the
company.
MacAlpine said there are lots of options for reshaping the
company with a distribution of various pieces to the major
shareholders among the possibilities.
Analyst Alan Gottesman of L.F. Rothschild, Unterberg Towbin
Inc said the Bass group has been increasing its stake in the
belief the company would be worth more with a change in its
strategy. He said Bass pushed for sale of the independent
television stations because the company paid too much.
|
training/2925
|
training/2925 |@title positive:1 outlook:1 temper:1 u:1 debt:1 future:1 |@word high:3 oil:8 price:8 strong:2 expect:1 u:2 employment:2 growth:1 lead:3 sharp:1 loss:2 interest:1 rate:1 future:4 diminish:1 positive:1 chart:3 outlook:6 financial:1 analyst:5 say:7 increase:1 319:1 000:3 non:1 farm:1 payroll:1 february:2 market:1 expectation:2 rise:4 170:1 200:1 job:1 spark:1 selling:1 treasury:1 bond:7 drive:1 june:4 contract:2 key:1 technical:1 support:2 101:4 2:2 32:5 opening:1 friday:3 note:4 like:1 fact:2 close:2 prudential:1 bache:1 fred:1 leiner:5 level:2 top:3 three:1 month:1 trading:1 range:1 penetrate:1 rally:2 wednesday:1 bullish:1 forecast:2 chartist:1 call:1 false:1 breakout:1 weekly:1 100:2 10:1 also:1 week:5 19:1 may:2 signal:2 bearish:1 double:2 formation:2 portend:1 steep:1 tend:1 go:1 along:2 scenario:1 northern:1 eileen:1 rico:2 possible:1 last:1 two:1 occur:1 relatively:2 low:2 volume:1 negative:2 despite:1 could:2 remain:2 cautiously:1 optimistic:2 find:1 99:1 16:1 next:1 well:1 yield:1 curve:1 flatten:1 near:1 term:1 base:1 improve:2 inflation:3 dollar:1 stable:1 economic:1 datum:1 give:1 federal:1 reserve:1 little:1 room:1 ease:1 monetary:1 policy:1 bill:1 eurodollar:1 still:1 recent:1 concern:1 report:1 opec:2 nation:1 maintain:1 production:2 quota:2 official:1 get:1 extra:1 boost:1 due:1 suspension:1 export:1 ecuador:2 earthquake:1 thursday:1 runup:1 crude:1 short:1 live:1 phenomenon:1 carroll:1 mcentee:1 mcginley:1 brian:1 singer:2 past:1 largely:1 medium:1 induce:1 even:1 though:1 within:1 stock:1 tremendously:1 although:1 situation:1 cause:1 delay:1 eventually:1 decline:1 late:1 supportive:1 influence:1
|
POSITIVE OUTLOOK TEMPERED IN U.S. DEBT FUTURES
Higher oil prices and stronger than
expected U.S. employment growth led to sharp losses in U.S.
interest rate futures and diminished what had been a positive
chart outlook, financial analysts said.
The increase of 319,000 in non-farm payroll employment
during February was above market expectations for a rise of
170,000 to 200,000 jobs and sparked selling in Treasury bond
futures that drove the June contract through key technical
support at 101-2/32 at the opening Friday, they noted.
'I don't like that fact that we had a close below 101,'
said Prudential Bache analyst Fred Leiner. The 101-2/32 level
in the June bond contract had been the top of a three-month
trading range, which when penetrated during the rally Wednesday
led to bullish forecasts by chartists.
But analysts called it a false breakout on the weekly
charts when the June bond closed at 100-10/32 Friday.
Some also forecast that the high of the week at 101-19/32
may signal a bearish double top formation portending steep
losses.
'I tend to go along with the double top scenario,' said
Northern Futures analyst Eileen Rico.
Rico noted that the possible formation, along with the fact
that the rally of the last two weeks in bond futures has
occurred on relatively low volume, were negative signals.
Despite what could be a negative chart outlook, Leiner
remains cautiously optimistic, and June bonds should find
support between 100 and 99-16/32 next week.
The optimistic outlook, as well as Leiner's expectation
that the yield curve will flatten in the near term, is based on
an improving inflation outlook.
With the dollar stable and economic data giving the Federal
Reserve little room to ease monetary policy, 'the inflation
outlook is improving,' Leiner said, and that should lead to
relatively stronger bond prices than bill and Eurodollar
prices.
Still, Leiner noted that the recent rise in oil prices
remains a concern for the inflation outlook.
Oil rose during the week on reports that OPEC nations were
maintaining production quotas and official prices, and got an
extra boost Friday due to the suspension of oil exports from
Ecuador after an earthquake Thursday.
'The runup in crude oil will be a short-lived phenomenon,'
said Carroll McEntee and McGinley analyst Brian Singer.
The rise in oil prices over the past week has been largely
'media induced,' Singer said. He noted that even though OPEC
production may be within quotas, 'oil stocks are at
tremendously high levels.'
Although the Ecuador situation could cause a delay, oil
prices will eventually decline to the lows of late February, he
said, and that will be a supportive influence for bond prices.
|
training/2926
|
training/2926 |@title sandox:1 buy:1 stauffer:1 seed:1 |@word sandoz:1 corp:1 northrup:1 king:1 co:2 say:1 buy:1 stauffer:2 seed:1 unit:1 chemical:1 term:1 disclose:1
|
SANDOX BUYS STAUFFER SEEDS
Sandoz Corp's Northrup King Co said
it bought Stauffer Seeds, a unit of Stauffer Chemical Co.
Terms were not disclosed.
|
training/2927
|
training/2927 |@title energen:1 egn:1 buy:1 municipal:1 gas:1 system:1 |@word energen:2 corp:1 say:1 acquire:2 distribution:1 system:3 city:1 clanton:1 ala:1 1:2 2:1 mln:1 dlrs:1 800:1 customer:2 fourth:1 municipal:1 alabama:1 gas:1 subsidiary:1 since:1 october:1 1986:1 add:1 total:1 9:1 600:1
|
ENERGEN <EGN> BUYS MUNICIPAL GAS SYSTEM
Energen Corp said it has
acquired the distribution system of the City of Clanton, Ala.
for about 1.2 mln dlrs.
The 1,800 customer system is the fourth municipal system
acquired by Energen's Alabama Gas subsidiary since October
1986, adding a total of 9,600 customers.
|
training/2928
|
training/2928 |@title sierra:1 pacific:1 resources:1 inc:1 srp:1 dividend:1 |@word qtly:1 div:1 43:2 ct:2 vs:1 prior:1 payable:1 may:1 one:1 record:1 april:1 15:1
|
SIERRA PACIFIC RESOURCES INC <SRP> DIVIDEND
Qtly div 43 cts vs 43 cts prior
Payable May one
Record April 15
|
training/2929
|
training/2929 |@title metex:1 corp:1 mtx:1 4th:1 qtr:1 dec:1 28:1 |@word shr:2 22:1 ct:3 vs:6 49:1 net:2 296:1 994:1 657:1 416:1 revs:2 6:2 5:2 mln:6 9:1 year:1 78:1 1:2 51:1 dlrs:1 0:2 2:1 27:1 29:1 4:1
|
METEX CORP <MTX> 4TH QTR DEC 28
Shr 22 cts vs 49 cts
Net 296,994 vs 657,416
Revs 6.5 mln vs 9.5 mln
Year
Shr 78 cts vs 1.51 dlrs
Net 1.0 mln vs 2.0 mln
Revs 27.6 mln vs 29.4 mln
|
training/293
|
training/293 |@title indian:1 sugar:1 output:1 rise:1 first:1 four:1 month:1 |@word india:1 sugar:2 output:1 january:2 31:1 1986:1 87:1 season:1 october:1 september:1 rise:1 3:5 66:1 mln:6 tonne:7 46:1 1985:2 86:2 period:2 indian:1 mills:1 association:1 say:1 total:1 offtake:1 first:1 four:1 month:1 current:1 year:2 2:2 71:1 include:2 241:1 000:6 import:4 domestic:2 use:2 4:1 export:2 81:1 993:1 corresponding:1 factory:1 stock:1 end:1 05:1 96:2 13:1 earlier:1
|
INDIAN SUGAR OUTPUT RISES IN FIRST FOUR MONTHS
India's sugar output to January 31 in
the 1986/87 season (October/September) rose to 3.66 mln tonnes
from 3.46 mln in the same 1985/86 period, the Indian Sugar
Mills Association said.
Total offtake in the first four months of the current year
was 2.71 mln tonnes (including 241,000 tonnes imported) for
domestic use and 4,000 tonnes for export, against 2.81 mln
tonnes (including 993,000 imported) for domestic use and 3,000
tonnes for export in the corresponding period of 1985/86.
Factory stocks at end-January were 3.05 mln tonnes (96,000
imported) against 3.13 mln (96,000 imported) a year earlier.
|
training/2930
|
training/2930 |@title houston:1 oil:1 trust:1 ho:1 omit:1 march:1 distribution:1 |@word houston:1 oil:1 trust:1 say:2 cash:2 distribution:3 unit:1 holder:1 march:2 significant:1 factor:1 lack:1 month:2 establishment:1 additional:1 special:2 cost:2 escrow:2 account:2 company:1 add:1 may:1 remainder:1 year:1 work:1 interest:1 owner:1 place:1 1:1 9:1 mln:1 dlrs:1
|
HOUSTON OIL TRUST <HO> OMITS MARCH DISTRIBUTION
Houston Oil Trust said there will be no
cash distribution to the unit holders in March.
The most significant factor for the lack of a distribution
this month is the establishment of additional special cost
escrow accounts, the company said, adding, that there may be no
cash distribution in other months or during the remainder of
the year.
For March, the working interest owner will place 1.9 mln
dlrs in special cost escrow accounts.
|
training/2933
|
training/2933 |@title monoclonal:1 antibodies:1 mabs:1 buy:1 company:1 |@word monoclonal:1 antibodies:1 inc:2 say:1 sign:1 agreement:2 principle:1 buy:1 genesis:1 labs:1 10:1 mln:1 dlrs:1 common:1 stock:1 subject:1 shareholder:1 approval:1 condition:1
|
MONOCLONAL ANTIBODIES <MABS> BUYS COMPANY
Monoclonal Antibodies Inc
said it signed an agreement in principle to buy <Genesis Labs
Inc> for about 10 mln dlrs of common stock.
The agreement is subject to shareholders approval and other
conditions.
|
training/2936
|
training/2936 |@title u:1 treasury:1 propose:1 african:1 import:1 |@word treasury:6 propose:3 allow:5 temporary:2 import:9 south:7 african:6 uranium:7 ore:8 oxide:8 july:2 1:2 certain:1 condition:1 pende:1 clarification:1 anti:1 apartheid:2 law:3 pass:2 congress:3 last:2 fall:2 proposal:1 publish:1 federal:2 register:1 next:1 week:1 request:1 write:1 congressional:1 public:1 comment:1 within:1 60:1 day:1 deal:1 u:5 processing:3 export:3 third:1 country:2 say:5 feel:1 intend:2 comprehensive:1 sanction:2 bill:1 override:1 president:1 reagan:1 veto:1 hurt:1 industry:3 domestic:1 conversion:1 government:2 enrichment:1 could:1 seriously:1 injure:1 manner:1 ban:2 implement:1 bar:1 mistaken:1 interpretation:1 act:1 brief:3 outright:1 may:1 cause:1 foreign:1 electric:1 utility:1 divert:1 origin:2 include:1 soviet:1 union:1 process:1 would:1 provide:1 accompanie:1 license:1 importation:2 issue:1 nuclear:1 regulatory:1 commission:1 also:1 good:1 temporarily:1 state:1 control:1 organization:1 repair:1 servicing:1 united:2 states:2 custom:1 make:1 bond:1 enact:1 protest:1 racial:1 segregation:1 practice:1 africa:1 white:1 minority:1 prohibit:1 iron:1 steel:1 coal:1 textile:1 end:1 1986:1
|
U.S. TREASURY PROPOSES SOME S. AFRICAN IMPORTS
The Treasury proposed allowing
temporary imports of South African uranium ore and uranium
oxide until July 1 under certain conditions pending
clarification of anti-apartheid laws passed by Congress last
fall.
The proposal to be published in the Federal Register next
week requests written congressional and public comment within
60 days and deals with uranium ore and oxide that is imported
for U.S. processing and exporting to third countries.
The Treasury said it proposed allowing the temporary
imports because it felt Congress had not intended when it
passed the comprehensive South African sanctions bill last fall
-- overriding President Reagan's veto -- to hurt U.S. industry.
'The domestic uranium conversion industry and the federal
government's enrichment industry could be seriously injured in
a manner not intended by Congress if the . . . import ban on
uranium ore and oxide were implemented to bar imports for
processing and export through a mistaken interpretation of the
act,' the Treasury brief said.
The Treasury said an outright U.S. ban of uranium ore and
oxide might cause foreign electric utilities to divert their
South African origin ore and oxide to other countries including
the Soviet Union for processing.
Treasury said it would allow imports of the South African
ore and oxide until July 1 for processing and re-export
'provided that the imported ore or oxide is accompanies by a
license for importation issued by the Nuclear Regulatory
Commission.'
The Treasury brief also proposed allowing U.S.-origin goods
to be imported temporarily from South African state-controlled
organizations for repair or servicing in the United States.
'The U.S. Customs will allow such importation to be made
under bond,' the brief said.
The South African sanctions law, enacted by the United
States to protest the apartheid laws of racial segregation
practiced by South Africa's white minority government,
prohibited imports of uranium ore and oxide, iron and steel,
coal and textiles at the end of 1986.
|
training/2938
|
training/2938 |@title braniff:1 inc:1 bair:1 4th:1 qtr:1 loss:1 jan:1 31:1 |@word shr:2 loss:8 37:1 ct:3 vs:6 13:1 net:3 4:1 5:3 mln:9 1:2 revs:2 63:1 3:2 53:1 8:1 year:2 74:1 profit:2 87:1 dlr:1 9:1 0:2 23:1 239:1 244:1 note:1 1986:1 include:1 extraordinary:1 gain:1 10:1 6:1 dlrs:2 tax:1 carryforward:1 198:1 000:1 4th:1 qtr:1
|
BRANIFF INC <BAIR> 4TH QTR LOSS JAN 31
Shr loss 37 cts vs loss 13 cts
Net loss 4.5 mln vs loss 1.5 mln
Revs 63.3 mln vs 53.8 mln
Year
Shr loss 74 cts vs profit 1.87 dlr
Net loss 9.0 mln vs profit 23.0 mln
Revs 239.5 mln vs 244.3 mln
NOTE:1986 net includes extraordinary gain of 10.6 mln dlrs
from tax loss carryforward in year and loss of 198,000 dlrs in
4th qtr.
|
training/2939
|
training/2939 |@title justice:2 dept:2 support:2 dismissal:2 twa:2 application:2 usair:2 control:2 |@word
|
JUSTICE DEPT. SUPPORTS DISMISSAL OF TWA APPLICATION FOR USAIR CONTROL
JUSTICE DEPT. SUPPORTS DISMISSAL OF TWA APPLICATION FOR USAIR CONTROL
|
training/2940
|
training/2940 |@title transportation:2 department:2 dismiss:2 twa:2 application:2 usair:2 control:2 |@word
|
TRANSPORTATION DEPARTMENT DISMISSES TWA APPLICATION FOR USAIR CONTROL
TRANSPORTATION DEPARTMENT DISMISSES TWA APPLICATION FOR USAIR CONTROL
|
training/2942
|
training/2942 |@title u:1 treasury:1 propose:1 african:1 uranium:1 import:1 |@word u:6 treasury:4 propose:3 allow:3 temporary:2 import:4 south:6 african:5 uranium:4 ore:4 oxide:4 july:1 1:1 certain:1 condition:1 pende:1 clarification:1 anti:1 apartheid:2 law:3 pass:2 congress:2 last:2 fall:2 say:2 feel:1 intend:1 comprehensive:1 sanction:2 bill:1 override:1 president:1 reagan:1 veto:1 hurt:1 industry:1 outright:1 ban:1 may:1 cause:1 foreign:1 electric:1 utility:1 divert:1 origin:2 country:1 include:1 soviet:1 union:1 process:1 also:1 good:1 temporarily:1 state:1 control:1 organization:1 repair:1 servicing:1 enact:1 protest:1 racial:1 segregation:1 practice:1 africa:1 white:1 minority:1 government:1 prohibit:1 iron:1 steel:1 coal:1 textile:1 end:1 1986:1
|
U.S. TREASURY PROPOSES S.AFRICAN URANIUM IMPORTS
The U.S. Treasury proposed allowing
temporary imports of South African uranium ore and uranium
oxide until July 1 under certain conditions pending
clarification of anti-apartheid laws passed by Congress last
fall.
The Treasury said it proposed allowing the temporary
imports because it felt Congress had not intended when it
passed the comprehensive South African sanctions bill last fall
-- overriding President Reagan's veto -- to hurt U.S. industry.
The Treasury said an outright U.S. ban of uranium ore and
oxide might cause foreign electric utilities to divert their
South African origin ore and oxide to other countries including
the Soviet Union for processing.
The Treasury also proposed allowing U.S.-origin goods to be
imported temporarily from South African state-controlled
organizations for repair or servicing in the U.S.
The South African sanctions law, enacted by the U.S. to
protest the apartheid laws of racial segregation practiced by
South Africa's white minority government, prohibited imports of
uranium ore and oxide, iron and steel, coal and textiles at the
end of 1986.
|
training/2944
|
training/2944 |@title 26:1 report:1 dead:1 ferry:1 disaster:1 |@word least:2 26:1 people:3 die:1 car:1 ferry:1 strike:1 pier:1 leave:1 belgium:1 britain:1 nurse:2 take:1 part:1 rescue:1 operation:1 say:3 jan:1 van:1 moerbeke:1 male:1 come:1 herald:1 free:1 enterprise:1 find:1 six:1 top:1 vessel:1 dead:2 another:1 20:1 inside:1 boat:1 add:1 governor:1 west:1 flanders:1 province:1 240:1 still:1 unaccounted:1
|
26 REPORTED DEAD IN FERRY DISASTER
At least 26 people died when
a car ferry struck a pier as it left Belgium for Britain, a
nurse who took part in the rescue operation said.
Jan Van Moerbeke, a male nurse, said on coming off the
Herald of Free Enterprise that he had found six people on top
of the vessel who were dead. There were at least another 20
dead inside the boat, he added.
The governor of West Flanders province said 240 people were
still unaccounted for.
|
training/2945
|
training/2945 |@title continental:1 federal:1 conf:1 holder:1 sell:1 stake:1 |@word continental:3 federal:1 savings:1 loan:1 association:1 say:3 tell:1 estate:2 hold:1 38:1 pct:1 stock:4 plan:1 sell:2 stake:1 premium:1 current:1 price:1 harold:1 vernon:1 certain:2 party:2 sign:1 letter:1 intent:1 12:1 25:1 dlrs:2 share:1 total:1 6:1 538:1 000:1 close:1 seven:1 counter:1 trade:1 thrift:1 buyer:1 bac:1 inc:1 corporation:1 act:1 unindentified:1
|
CONTINENTAL FEDERAL <CONF> HOLDER TO SELL STAKE
Continental Federal Savings and
Loan Association said it was told that an estate holding 38 pct
of its stock plans to sell its stake at a premium over the
current stock price.
Continental said the estate of Harold Vernon and certain
parties have signed a letter of intent to sell the stock for
12.25 dlrs a share, for a total of about 6,538,000 dlrs.
Continental's stock closed at seven in over-the-counter
trading.
The thrift said the buyer is <BAC Inc>, a corporation
acting for certain unindentified parties.
|
training/2946
|
training/2946 |@title broker:1 choice:1 buy:1 rubbertech:1 |@word broker:2 choice:2 capital:1 inc:3 say:1 sign:1 letter:1 intent:1 buy:1 rubbertech:2 approve:1 shareholder:1 issue:1 71:1 mln:1 share:2 authorized:1 unissued:1 restricted:1 common:1 stock:1
|
BROKER'S CHOICE TO BUY RUBBERTECH
Broker's Choice Capital Inc said
it signed a letter of intent to buy Rubbertech Inc.
If approved by shareholders, Broker's Choice will issue
about 71 mln shares of authorized, but unissued shares of
restricted common stock to Rubbertech Inc.
|
training/2947
|
training/2947 |@title argentina:1 unaffected:1 brazil:1 maize:1 decision:1 |@word government:1 official:1 say:7 decision:2 brazil:5 import:3 maize:5 forecast:1 record:1 harvest:1 would:2 affect:2 argentina:5 export:2 hear:1 nothing:1 decide:1 problem:1 one:1 main:2 customer:2 agriculture:2 livestock:1 fishery:1 secretary:1 miguel:1 braceras:1 private:1 source:1 also:3 minister:1 iris:1 resende:1 announce:1 yesterday:1 sao:1 paulo:1 ask:1 argentine:2 small:1 crop:1 adverse:1 weather:1 summer:1 reduce:1 production:1 bracera:1 last:1 year:2 buy:1 800:1 000:1 tonne:1 soviet:1 union:1 japan:1 become:1 big:1 importer:1 country:1
|
ARGENTINA UNAFFECTED BY BRAZIL'S MAIZE DECISION
A government official said that a
decision by Brazil not to import maize because it forecast a
record harvest would not affect Argentina's exports.
'We have heard nothing about this, but if Brazil has decided
not to import maize that is no problem for us as it is not one
of our main customers,' Agriculture, Livestock and Fisheries
Under-Secretary Miguel Braceras said.
Private sources also said Argentina's exports would not be
affected by Brazil's decision, which Agriculture Minister Iris
Resende announced yesterday in Sao Paulo.
Brazil had not asked for any Argentine maize, they said.
They also said a smaller crop and adverse weather this
summer in Argentina had reduced production.
Braceras said that last year Brazil bought 800,000 tonnes
of Argentine maize but in some years it had not imported any
from Argentina.
The Soviet Union was Argentina's main customer and Japan
was also becoming a bigger importer of the country's maize, he
said.
|
training/2948
|
training/2948 |@title dot:1 dismiss:1 twa:2 usair:1 u:1 application:1 |@word u:2 department:2 transportation:1 dot:9 say:6 dismiss:4 technical:1 ground:2 application:8 trans:1 world:1 airlines:1 inc:1 approval:2 take:2 control:4 usair:5 group:1 add:3 however:1 twa:11 free:1 refile:2 could:1 put:1 together:1 meet:3 agency:2 procedural:2 requirement:3 act:1 shortly:1 justice:1 disclose:1 support:1 dismissal:1 immediately:1 clear:1 impact:1 denial:1 would:4 bid:1 acknowledge:1 additional:1 documentation:1 require:1 rule:2 file:1 material:1 morning:1 march:1 9:1 wait:1 determine:1 acquisition:1 order:1 issue:1 late:1 friday:1 clearly:1 fail:1 comply:2 filing:3 regulation:1 provide:1 reason:1 accept:1 deficient:1 accordingly:1 course:1 may:1 able:1 continue:1 consider:1 separate:1 request:1 federal:1 clearance:1 purchase:1 stock:1 vote:1 trust:1 earlier:1 today:1 ask:1
|
DOT DISMISSES TWA <TWA>, USAIR <U> APPLICATION
The U.S. Department of Transportation
(DOT) said it dismissed on technical grounds an application by
Trans World Airlines Inc for DOT approval for it to take
control of USAir Group.
The DOT added, however, that TWA was free to refile when it
could put together an application for control that met the
agency's procedural requirements.
The DOT acted shortly after the U.S. Department of Justice
disclosed that it supported dismissal of the TWA application.
It was not immediately clear what impact the denial would
have on TWA's bid to take over USAir.
In its control application, TWA had acknowledged that
additional documentation was required to meet DOT rules and
said it would file more material on the morning of March 9.
But the DOT said it would not wait.
'We have determined to dismiss TWA's application for
approval of the acquisition of USAir,' it said in an order
issued late Friday.
'TWA's application clearly fails to comply with the filing
requirements of our regulations...and TWA has provided no
reason why we should accept such a deficient filing,' it added.
'Accordingly, we will dismiss the application. TWA, of
course, may refile it when it is able to comply with our
procedural rules,' the DOT said.
The agency added that it would continue to consider a
separate TWA request for federal clearance to purchase USAir
stock through a voting trust.
USAir had said earlier today that it asked the DOT to
dismiss the TWA control application, on grounds the TWA filing
did not meet DOT requirements.
|
training/2950
|
training/2950 |@title twa:2 refile:1 u:1 agency:1 |@word transworld:1 airlines:1 inc:1 plan:1 refile:2 application:4 monday:2 department:1 transportation:1 approval:1 acquire:2 usair:2 group:1 u:1 dot:3 late:1 today:1 dismiss:1 twa:2 open:1 business:1 morning:1 perfect:1 complete:1 section:1 408:1 say:3 general:1 counsel:1 mark:1 buckstein:2 rule:1 file:1 wednesday:1 incomplete:1 yet:1 know:1 agency:1 object:1
|
TWA <TWA> TO REFILE WITH U.S. AGENCY
Transworld Airlines Inc plans to refile
an application Monday with the Department of Transportation for
approval to acquire USAir Group <U>.
The DOT late today dismissed TWA's application to acquire
USAir.
'When the DOT opens for business on Monday morning, we will
be refiling a perfected and completed section 408 application,'
said TWA general counsel Mark Buckstein.
Buckstein said the DOT ruled the application, which was
filed Wednesday, was incomplete. He said he did not yet know
why the agency objected.
|
training/2951
|
training/2951 |@title justice:1 ask:1 u:1 dismissal:1 twa:2 filing:1 |@word justice:2 department:2 tell:2 transportation:1 support:1 request:1 usair:2 group:1 dot:2 dismiss:1 application:2 trans:1 world:1 airlines:1 inc:1 approval:1 take:1 control:2 rationale:1 review:2 file:1 twa:1 ascertain:1 contain:1 sufficient:1 information:1 upon:1 base:1 competitive:1 james:1 weiss:1 official:1 antitrust:1 division:1 reuters:1
|
JUSTICE ASKS U.S. DISMISSAL OF TWA (TWA) FILING
The Justice Department told the
Transportation Department it supported a request by USAir
Group that the DOT dismiss an application by Trans World
Airlines Inc for approval to take control of USAir.
'Our rationale is that we reviewed the application for
control filed by TWA with the DOT and ascertained that it did
not contain sufficient information upon which to base a
competitive review,' James Weiss, an official in Justice's
Antitrust Division, told Reuters.
|
training/2952
|
training/2952 |@title hong:1 kong:1 bank:1 leave:1 interest:1 rate:1 unchanged:1 |@word hong:1 kong:1 association:1 banks:1 say:1 decide:1 leave:1 interest:1 rate:3 unchanged:1 today:1 regular:1 weekly:1 meeting:1 current:1 1:4 3:4 4:4 pct:7 saving:1 account:1 24:1 hour:1 seven:1 day:1 call:1 one:2 week:2 two:2 month:5 2:3 three:2 six:2 nine:1 12:1 prime:1
|
HONG KONG BANKS LEAVE INTEREST RATES UNCHANGED
The Hong Kong Association of Banks
said it decided to leave interest rates unchanged at today's
regular weekly meeting.
Current rates are 1-3/4 pct for savings accounts, 24-hours,
seven-day call, one-week and two-weeks. One-month is 2-1/4 pct,
two-months 2-1/2 pct, three- and six-months are both three pct,
nine-months 3-1/4 pct and 12-months 3-3/4 pct.
Prime rate is six pct.
|
training/2953
|
training/2953 |@title saving:1 acuisition:1 california:1 announce:1 |@word federal:1 home:1 loan:2 bank:1 board:1 fhlbb:3 announce:1 acquisiton:1 south:2 bay:2 savings:2 amp:1 association:1 gardena:1 calif:2 standard:2 pacific:2 saving:1 costa:1 mesa:1 say:2 asset:2 62:1 5:1 mln:2 dlrs:2 312:1 8:1 fourth:1 federally:1 assisted:1 merger:1 acquisition:1 troubled:1 institution:1 year:1
|
SAVINGS ACUISITION IN CALIFORNIA ANNOUNCED
The Federal Home Loan Bank Board
(FHLBB) announced the acquisiton of South Bay Savings & Loan
Association in Gardena, Calif., By Standard Pacific Savings of
Costa Mesa, Calif.
The FHLBB said South Bay had assets of 62.5 mln dlrs and
Standard Pacific had 312.8 mln dlrs in assets.
It was the fourth federally-assisted merger or acquisition
of a troubled savings institution this year, the FHLBB said.
|
training/2954
|
training/2954 |@title colombia:1 deny:1 sell:1 coffee:1 market:1 |@word colombia:1 deny:1 sell:1 440:1 000:1 60:1 kg:1 bag:1 old:1 crop:1 coffee:2 current:1 market:2 price:1 client:1 europe:1 asia:1 spokesman:1 national:1 grower:1 federation:1 comment:1 rumour:1 circulate:1 circle:1 say:1 false:1
|
COLOMBIA DENIES SELLING COFFEE BELOW MARKET
Colombia denied having sold 440,000 60-kg
bags of old crop coffee below current market prices to clients
in Europe and Asia.
A spokesman for the National Coffee Growers Federation,
commenting on rumours which had circulated in market circles,
said these were false.
|
training/2955
|
training/2955 |@title two:1 hundred:1 fear:1 dead:1 ferry:1 disaster:1 |@word 200:2 people:2 fear:3 dead:2 british:2 cross:1 channel:1 ferry:2 roll:1 side:1 belgian:2 coast:1 last:1 night:1 almost:1 350:1 passenger:1 pluck:1 safety:1 ice:1 cold:1 sea:1 transport:1 minister:1 herman:1 de:1 croo:1 tell:1 reporter:1 could:1 hundred:1 perhaps:1 give:1 state:1 water:1 hope:1 townsend:1 thorensen:1 owner:1 7:1 951:1 tonne:1 herald:1 free:1 enterprise:1 say:1 carry:1 543:1 345:1 rescue:1 one:1
|
TWO HUNDRED FEARED DEAD IN FERRY DISASTER
About 200 people are feared
dead after a British cross-channel ferry rolled on its side off
the Belgian coast last night -- but almost 350 passengers were
plucked to safety from the ice-cold sea.
Belgian Transport Minister Herman de Croo told reporters: 'I
fear the dead could be in hundreds, perhaps 200. Given the
state of the water, I fear there is no hope.'
Townsend Thorensen, owners of the 7,951 tonne Herald of
Free Enterprise, said the ferry was carrying 543 people and
that 345 had been rescued. All but one were British.
|
training/2956
|
training/2956 |@title malaysia:1 bail:1 another:1 commercial:1 bank:1 |@word malaysia:2 central:4 bank:16 say:6 acquire:1 59:1 2:1 pct:2 stake:3 ail:2 united:1 asian:1 bhd:2 uab:4 sixth:1 large:1 commercial:2 country:1 rebuild:1 public:2 confidence:2 call:1 right:1 issue:1 last:1 november:1 raise:2 152:1 49:2 mln:6 ringgit:5 rectify:1 capital:4 deficiency:1 follow:1 accumulate:1 loss:1 107:1 61:1 end:1 1985:1 negara:3 statement:1 16:1 99:1 share:4 take:3 shareholder:1 mainly:1 local:1 indian:2 malay:1 businessman:1 government:1 subsequently:1 unsubscribed:1 total:1 135:1 5:1 new:1 pay:1 228:1 74:1 hold:2 trust:1 eventually:1 sell:1 early:1 week:1 also:1 announce:1 buy:2 4:1 another:1 troubled:1 perwira:1 habib:1 latter:1 405:1 105:1 mid:1 january:1 year:1 intend:1 two:1 injection:1 phb:1 include:1 recamp:1 management:1 measure:1 strengthen:1 stability:1 add:1 invoke:1 section:1 39a:1 banking:1 amendemnt:1 act:1 1986:1 empower:1 grant:1 loan:1
|
MALAYSIA BAILS OUT ANOTHER COMMERCIAL BANK
Malaysia's central bank said it
acquired a 59.2 pct stake in ailing <United Asian Bank Bhd>
(UAB), the sixth largest commercial bank in the country, to
rebuild public confidence in it.
UAB called for a rights issue last November to raise 152.49
mln ringgit to rectify its capital deficiency following an
accumulated loss of 107.61 mln ringgit at end-1985, the central
bank, Bank Negara, said in a statement.
But only 16.99 mln ringgit in shares was taken up by
shareholders, mainly local Indian and Malay businessmen and the
Indian Government.
Bank Negara said it subsequently took up the unsubscribed
shares, totalling 135.5 mln of UAB's new paid-up capital of
228.74 mln ringgit.
It said the shares, held in trust, will be eventually sold.
The central bank early this week also announced that it had
bought 49.4 pct stake in another troubled commercial bank,
<Perwira Habib Bank Malaysia Bhd>, after the latter raised its
capital to 405 mln ringgit from 105 in mid-January this year.
Bank Negara said it does not intend to hold on to the
shares of the two banks.
'The injection of capital in PHB and in UAB including the
recamp of management in these banks are some of the measures
taken by the bank to strengthen public confidence in the
stability of the these banks,' it added.
The central bank said it is invoking Section 39A of the
Banking (Amendemnt) Act 1986 empowering it to grant loans to an
ailing bank or to buy a stake in it.
|
training/2957
|
training/2957 |@title ecuador:1 adopt:1 austerity:1 measure:1 quake:1 opec:1 |@word member:1 ecuador:4 adopt:1 austerity:2 measure:2 conserve:1 fuel:4 oil:3 production:1 paralyze:1 strong:1 earthquake:1 energy:3 mines:2 minister:2 javier:1 espinosa:1 announce:2 television:2 country:1 would:1 cut:1 domestic:1 sale:4 30:1 pct:1 ministry:2 statement:1 earlier:1 indefinite:1 suspension:1 crude:1 export:1 declare:1 force:1 majeure:1 deputy:1 fernando:1 santos:1 alvite:1 tell:1 interviewer:1 could:1 possibly:1 take:1 month:1 repair:1 main:1 pipeline:1 link:1 amazon:1 basin:1 field:1 pacific:1 ocean:1 coast:1 quake:1 thursday:1 register:1 six:2 12:1 point:1 mercalli:1 scale:1 kill:1 least:1 people:1 centre:1 near:1 reventador:1 volcano:1 90:1 km:1 50:1 mile:1 east:1 quito:1 recently:1 pump:1 260:1 000:1 barrel:1 per:1 day:1 government:1 ban:2 aviation:1 foreign:2 airliner:1 international:1 route:1 available:1 ship:1 line:1 also:1 petrol:1 weekend:1 holiday:1 limit:1 weekday:1 communique:1 say:1
|
ECUADOR ADOPTS AUSTERITY MEASURES AFTER QUAKE
OPEC member Ecuador adopted austerity
measures to conserve fuel after oil production was paralyzed by
a strong earthquake.
Energy and Mines Minister Javier Espinosa announced on
television the country would cut domestic fuel sales by 30 pct.
A ministry statement had earlier announced indefinite
suspension of crude oil exports, declaring force majeure.
Deputy Energy Minister Fernando Santos Alvite told a
television interviewer that it could possibly take more than a
month to repair Ecuador's main pipeline linking Amazon basin
oil fields to the Pacific Ocean coast.
The quake on Thursday, which registered six on the 12-point
Mercalli scale, killed at least six people and was centred near
the Reventador volcano about 90 km (50 miles) east of Quito.
Ecuador had recently been pumping 260,000 barrels per day.
The government's austerity measures ban the sale of
aviation fuel to foreign airliners on international routes and
no fuel will be available for ships owned by foreign lines.
Ecuador also banned the sale of petrol on weekends and
holidays and limited sales on weekdays, an Energy and Mines
Ministry communique said.
|
training/2958
|
training/2958 |@title ferry:1 disaster:1 may:1 rank:1 among:1 bad:1 tragedy:1 |@word fade:1 hope:2 passenger:2 trap:2 aboard:1 partially:1 sink:4 channel:1 ferry:3 raise:1 fear:2 accident:1 could:1 rank:1 among:1 century:1 bad:3 peacetime:3 shipping:1 tragedy:1 belgian:2 transport:1 minister:1 herman:1 de:1 croo:1 say:1 rescue:2 220:1 herald:1 free:1 enterprise:1 capsize:2 coast:1 last:2 night:1 confirm:1 toll:1 would:1 make:1 incident:2 world:3 since:1 soviet:2 liner:3 admiral:1 nakhimov:1 collide:2 freighter:2 black:1 sea:2 september:1 loss:3 nearly:1 400:1 life:3 856:1 people:2 deadly:1 single:1 sinking:1 1912:1 titanic:1 1:2 500:1 live:1 second:1 big:1 1914:1 014:1 drown:2 empress:1 ireland:1 st:1 lawrence:1 river:1 canada:1 maritime:1 disaster:1 wartime:1 take:1 7:1 700:1 german:1 wilhelm:1 gustloff:1 torpedo:1 submarine:1 january:1 30:1 1945:1 1985:1 200:1 dead:1 two:1 near:1 dhaka:1 174:1 china:1 147:1 die:1 launch:1 malaysian:1 state:1 sabah:1
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FERRY DISASTER MAY RANK AMONG WORST TRAGEDIES
Fading hope for passengers trapped aboard
a partially-sunk Channel ferry raised fears the accident could
rank among this centuries' worst peacetime shipping tragedies.
Belgian Transport Minister Herman de Croo said there was no
hope of rescuing any of about 220 passengers trapped in the
Herald of Free Enterprise after it capsized off the Belgian
coast last night.
If confirmed, the toll would make the incident the world's
worst since a Soviet liner, the Admiral Nakhimov, collided with
a freighter in the Black Sea last September and sank with the
loss of nearly 400 lives. A further 856 people were rescued.
The world's deadliest single peacetime incident at sea was
the sinking in 1912 of the Titanic with a loss of 1,500 lives.
The second biggest loss of life in peacetime was in 1914
when 1,014 people drowned when the liner Empress of Ireland
collided with a freighter on the St Lawrence river in Canada.
The world's worst maritime disaster was in wartime that
took 7,700 lives when the German liner Wilhelm Gustloff was
torpedoed by a Soviet submarine in January 30, 1945.
In 1985, more than 200 were feared dead after two ferries
sank near Dhaka, 174 drowned when a ferry capsized in China and
147 died when a launch sank off the Malaysian state of Sabah.
|
training/2959
|
training/2959 |@title almost:1 200:1 dead:1 ferry:1 disaster:1 |@word survivor:2 british:1 cross:1 channel:1 ferry:1 disaster:1 belgian:2 coast:1 almost:1 200:1 people:1 seem:1 certain:1 perish:1 senior:1 official:1 say:4 jacques:1 thas:2 charge:1 rescue:1 herald:1 free:1 enterprise:1 man:1 search:1 ship:1 except:1 inaccessible:1 cabin:1 control:1 room:1 afraid:1 32:1 543:1 passsenger:1 crew:1 confirm:1 dead:3 160:1 miss:1 bring:1 total:1 presume:1 192:1
|
ALMOST 200 DEAD IN FERRY DISASTER
There are no more survivors from a
British cross-Channel ferry disaster off the Belgian coast and
almost 200 people seem certain to have perished, a senior
Belgian official said.
Jacques Thas, in charge of rescue for the Herald of Free
Enterprise, said his men had searched all of the ship except
some inaccessible cabins and the control room.
'I am afraid there are no more survivors,' he said. Thas said
32 of the 543 passsengers and crew were confirmed dead and 160
were missing, bringing the total of dead or presumed dead to
192.
|
training/296
|
training/296 |@title new:1 dutch:1 advance:1 total:1 4:1 8:1 billion:1 guilde:1 |@word dutch:1 central:1 bank:1 say:1 accept:1 bid:1 total:1 4:1 8:2 billion:3 guilde:4 tender:1 new:2 seven:1 day:2 special:1 advance:2 5:1 3:1 pct:2 cover:1 period:1 march:1 2:1 9:1 aim:1 relieve:1 money:2 market:2 tightness:1 subscription:1 300:2 mln:2 meet:1 full:1 amount:1 50:1 facility:1 replace:1 old:1 five:1 worth:1 0:1 rate:1 dealer:1 expect:1 week:1 shortage:1 around:1 12:1
|
NEW DUTCH ADVANCES TOTAL 4.8 BILLION GUILDERS
The Dutch Central Bank said it has
accepted bids totalling 4.8 billion guilders at tender for new
seven-day special advances at 5.3 pct covering the period March
2 to 9 aimed at relieving money market tightness.
Subscriptions to 300 mln guilders were met in full, amounts
above 300 mln at 50 pct.
The new facility replaces old five-day advances worth 8.0
billion guilders at the same rate.
Dealers expect this week's money market shortage to be
around 12 billion guilders.
|
training/2960
|
training/2960 |@title sime:1 darby:1 bhd:1 six:1 month:1 december:1 31:1 |@word shr:1 3:2 9:1 cent:3 vs:5 4:1 2:1 interim:1 dividend:2 three:1 group:1 net:1 35:1 8:2 mln:4 ringgit:1 39:1 1:3 pre:1 tax:1 77:1 99:1 turnover:1 16:1 billion:2 05:1 note:1 pay:1 may:1 22:1 register:1 april:1 24:1
|
<SIME DARBY BHD> SIX MONTHS TO DECEMBER 31
Shr 3.9 cents vs 4.2 cents
Interim dividend three cents vs same
Group net 35.8 mln ringgit vs 39.1 mln
Pre-tax 77.3 mln vs 99.8 mln
Turnover 1.16 billion vs 1.05 billion
Note - dividend pay May 22, register April 24.
|
training/2961
|
training/2961 |@title consolidated:1 plantation:1 bhd:1 |@word six:1 month:1 december:1 31:1 shr:1 2:2 6:2 cent:3 vs:5 5:2 interim:1 dividend:2 four:1 group:1 net:1 12:1 4:1 mln:6 ringgit:1 24:1 3:3 pre:1 tax:1 26:1 53:1 turnover:1 235:1 333:1 9:1 note:1 pay:1 april:2 30:1 register:1
|
<CONSOLIDATED PLANTATIONS BHD>
Six months to December 31
SHR 2.6 cents vs 5.2 cents
Interim dividend four cents vs same
Group net 12.4 mln ringgit vs 24.3 mln
Pre-tax 26.6 mln vs 53.5 mln
Turnover 235.3 mln vs 333.9 mln
Note - dividend pay April 30, register April 3.
|
training/2962
|
training/2962 |@title tractor:1 malaysia:1 holding:1 bhd:1 |@word six:1 month:1 december:1 31:1 shr:1 8:3 ct:3 vs:5 0:2 5:3 interim:1 dividend:2 12:1 nil:1 group:1 net:1 9:2 mln:6 ringgit:1 6:1 pre:1 tax:1 11:1 1:2 turnover:1 88:1 70:1 note:1 pay:1 may:1 15:1 register:1 april:1 17:1
|
<TRACTORS MALAYSIA HOLDINGS BHD>
Six months to December 31
SHR 8.8 cts vs 0.5 ct
Interim dividend 12.5 cts vs nil
Group net 9.5 mln ringgit vs 0.6 mln
Pre-tax 11 mln vs 1.1 mln
Turnover 88.9 mln vs 70.8 mln
Note - dividend pay May 15, register April 17.
|
training/2963
|
training/2963 |@title dunlop:1 malaysian:1 industry:1 bhd:1 |@word six:1 month:1 december:1 31:1 shr:1 1:4 4:3 ct:2 vs:5 6:2 interim:1 dividend:2 one:1 cent:1 group:1 net:1 mln:6 ringgit:1 7:2 pre:1 tax:1 nine:1 turnover:1 100:1 8:1 112:1 note:1 pay:1 april:2 28:1 register:1 3:1
|
<DUNLOP MALAYSIAN INDUSTRIES BHD>
Six months to December 31
SHR 1.4 cts vs 1.6 cts
Interim dividend one cent vs same
Group net 4.1 mln ringgit vs 4.7 mln
Pre-tax 6.7 mln vs nine mln
Turnover 100.8 mln vs 112.1 mln
Note - dividend pay April 28, register April 3.
|
training/2964
|
training/2964 |@title bangladesh:1 sugar:1 production:1 almost:1 double:1 |@word bangladesh:2 sugar:3 production:1 increase:2 nearly:2 60:1 000:6 tonne:6 last:1 year:3 season:2 total:2 140:1 end:2 food:1 industries:1 corp:1 say:2 output:1 enable:1 cut:1 import:3 corporation:1 official:1 tell:1 reuter:1 country:1 already:1 37:1 buy:1 113:1 make:1 shortfall:1 1986:1 87:1 june:1 30:1 1985:1 86:1 224:1 100:1 still:1 stock:1 without:1 give:1 detail:1
|
BANGLADESH SUGAR PRODUCTION ALMOST DOUBLES
Bangladesh's sugar production increased by
nearly 60,000 tonnes over last year's season to total 140,000
tonnes at the end of this year's season, the Sugar and Food
Industries Corp said.
The increased output will enable Bangladesh to cut imports.
Corporation officials told Reuters the country has already
imported 37,000 tonnes of sugar and will buy 113,000 tonnes
more to make up shortfall in the 1986/87 year ending June 30.
Imports in 1985/86 totalled 224,000 tonnes, of which nearly
100,000 tonnes are still in stock, they said without giving
further details.
|
training/2965
|
training/2965 |@title german:1 1988:1 tax:1 cut:1 raise:1 5:1 2:1 billion:1 mark:1 |@word senior:1 official:2 west:2 german:2 coalition:1 government:3 say:7 tax:10 cut:6 plan:4 next:3 year:5 would:8 increase:5 5:4 2:4 billion:6 mark:8 line:1 pledge:1 make:1 finance:1 minister:1 gerhard:1 stoltenberg:4 last:2 month:1 international:1 monetary:1 conference:2 paris:2 gerold:1 tandler:2 general:2 secretary:1 christian:2 social:1 union:2 party:2 detail:1 news:1 also:1 attend:1 democratic:2 free:1 additional:1 reduction:2 represent:1 net:1 relief:2 revenue:1 source:1 add:1 package:1 already:1 1988:1 amount:1 nine:1 three:2 extra:3 account:2 reduce:1 rate:2 marginal:1 income:1 personal:1 allowance:2 save:1 taxpayer:1 1:1 4:1 people:2 whose:1 child:1 educate:1 300:1 mln:2 bill:1 500:1 level:1 special:1 depreciation:1 small:1 medium:1 sized:1 company:1 fiscal:1 measure:1 part:2 reform:2 system:1 come:2 effect:1 1990:1 taxis:1 gross:2 44:1 introduce:1 ahead:1 schedule:1 pressure:1 united:1 states:1 stimulate:1 economy:2 speech:1 night:1 hamburg:1 continue:1 expand:1 growth:2 uncertain:1 january:1 aim:1 real:1 national:1 product:1 pct:4 economist:1 revise:1 prediction:1 two:2 remain:2 course:1 expansion:1 whether:1 believe:1 around:1 expect:1 even:1 close:1 kiel:1 world:1 economic:1 institute:1 forecast:1 day:1 ago:1 open:1 moment:1
|
GERMAN 1988 TAX CUTS RAISED BY 5.2 BILLION MARKS
Senior officials in the West German
coalition government said tax cuts planned for next year would
be increased by 5.2 billion marks, in line with a pledge made
by Finance Minister Gerhard Stoltenberg at last month's
international monetary conference in Paris.
Gerold Tandler, General Secretary of the Christian Social
Union Party, detailing the cuts at a news conference also
attended by officials from the Christian Democratic Union and
Free Democratic Party, said all of the additional 5.2 billion
mark reduction would represent net tax relief.
An increase in revenue from other sources was not planned.
The reductions will be added on to a package of tax cuts
already planned for 1988 amounting to some nine billion marks.
Tandler said three billion marks of the extra tax relief
would be accounted for by reducing the rate of marginal
increase in income tax.
An increase in personal tax allowances would save taxpayers
1.4 billion marks. Extra tax allowances for people whose
children are being educated would cut 300 mln marks from the
tax bill. A further 500 mln marks would be accounted for by
increasing the level of special depreciations for small- and
medium-sized companies.
The extra fiscal measures planned for next year are part of
a general reform of the tax system which will come into effect
in 1990. Stoltenberg had said in Paris that part of this
reform, which will cut taxes by a gross 44 billion marks, would
be introduced next year, ahead of schedule.
The West German government had come under pressure from the
United States to stimulate its economy with tax cuts. But
Stoltenberg said in a speech last night in Hamburg that, while
the economy would continue to expand this year, the rate of
growth was uncertain.
The government said in January it was aiming for real
growth in Gross National Product this year of 2.5 pct, but some
economists have revised their predictions down to two or below.
Stoltenberg said: 'We remain on a course of expansion.
Whether (this will be) under two pct, as some people believe,
or around 2.5 pct as some others expect, or even closer to
three pct, as the Kiel World Economic Institute forecast a few
days ago, remains open at the moment.'
|
training/2966
|
training/2966 |@title yield:1 fall:1 30:1 day:1 sama:1 deposit:1 |@word yield:1 30:2 day:2 banker:2 security:1 deposit:2 account:1 issue:2 week:2 saudi:1 arabian:1 monetary:1 agency:1 sama:3 fall:1 5:1 84073:1 pct:2 6:2 21950:1 last:1 saturday:1 say:1 increase:1 offer:2 price:1 900:1 mln:1 riyal:3 99:2 51563:1 48438:1 one:1 month:1 interbank:1 quote:1 today:1 1:2 4:1 six:1 total:1 9:1 billion:1 91:1 180:1 paper:1 bank:1 kingdom:1
|
YIELD FALLS ON 30-DAY SAMA DEPOSITS
The yield on 30-day bankers security
deposit accounts issued this week by the Saudi Arabian Monetary
Agency (SAMA) fell to 5.84073 pct from 6.21950 last Saturday,
bankers said.
SAMA increased the offer price on the 900 mln riyal issue
to 99.51563 from 99.48438. One-month interbank riyal deposits
were quoted today at 6-1/4, six pct.
SAMA offers a total of 1.9 billion riyals each week in 30,
91 and 180-day paper to banks in the Kingdom.
|
training/2968
|
training/2968 |@title expert:1 express:1 fear:1 ro:2 safety:1 |@word british:1 government:1 investigation:2 get:4 way:1 sinking:1 car:2 ferry:5 herald:3 free:3 enterprise:3 heavy:1 loss:1 life:1 expert:3 say:12 doubt:2 already:3 express:2 roll:4 type:3 ship:7 shipping:1 minister:1 lord:1 brabazon:2 preliminary:1 start:1 7:1 951:1 tonne:1 capsize:1 sink:1 little:1 minute:1 manoeuvre:1 leave:1 zeebrugge:1 routine:1 four:1 hour:1 crossing:1 dover:1 initial:1 report:2 speak:1 water:3 flood:1 deck:3 bow:1 door:1 spokesman:1 owner:1 townsend:4 thoresen:4 also:1 possible:1 hole:1 operate:1 two:2 identical:1 plan:1 pull:1 service:1 present:1 investigator:1 shall:1 wait:1 see:1 early:1 happen:1 tell:1 bbc:1 radio:1 work:1 retrieve:1 body:1 half:1 submerge:1 hulk:1 continue:1 maritime:2 safety:2 london:1 design:2 call:1 roro:2 1980:2 inter:1 governmental:1 international:1 consultative:1 committee:1 issue:1 vessel:2 lose:1 accident:1 area:3 divide:1 bulkhead:1 build:2 west:1 german:1 yard:1 bremerhaven:1 high:1 standard:1 salvage:1 william:1 cooper:2 passenger:1 would:1 problem:1 former:1 navigate:1 officer:1 clive:1 langley:1 similar:1 respect:1 barge:2 sailor:1 know:1 take:1 three:1 inch:1 line:1 turn:1 ordinary:1 compartmentalise:1 stability:2 cross:1 channel:1 normally:1 perfectly:1 stable:1 huge:1 wide:1 level:1 severe:1 effect:1 add:1
|
EXPERTS HAD EXPRESSED FEARS OVER RO-RO SAFETY
As a British government investigation got
under way into the sinking of the car ferry Herald of Free
Enterprise with heavy loss of life, experts said doubts had
already been expressed about the roll-on roll-off type of ship.
Shipping minister Lord Brabazon said a preliminary
investigation had started into why the 7,951 tonne ferry
capsized and sank in little over a minute as it manoeuvred to
leave Zeebrugge on a routine four hour crossing to Dover.
Initial reports spoke of water flooding the car decks
through the bow doors. But a spokesman for the owners, Townsend
Thoresen, said it was also possible the ferry had been holed.
Townsend Thoresen operate two other ships identical to the
Herald of Free Enterprise, but Brabazon said it was not planned
to pull them out of service at present.
'Our investigator is there already. We shall have to wait
and see. But it is too early to say what happened,' he told BBC
radio.
As the work of retrieving bodies from the half-submerged
hulk continued, maritime safety experts in London said doubts
had already been expressed about the design of so-called 'RoRo'
ferries such as the Herald of Free Enterprise.
In 1980 the Inter-Governmental International Maritime
Consultative Committee issued a report saying more roll-on
roll-off vessels were lost in accidents than ships with deck
areas divided by bulkheads.
Townsend Thoresen say the ship, built at the West German
yard of Bremerhaven in 1980, was built to the highest safety
standards.
But salvage expert William Cooper said passengers would
have had problems getting off this type of ship because of its
design.
Former Townsend Thoresen navigating officer Clive Langley
said the RoRo type of vessels were similar in some respects to
a barge.
'As any sailor knows it only takes two or three inches out
of line and you can turn a barge over. An ordinary ship is
compartmentalised and you have more stability,' he said.
Cooper said cross-Channel ferries were normally perfectly
stable but had huge wide deck areas above the water level.
'If you do get water into that area then you can get very
severe effects on the stability of the ship,' he added.
|
training/297
|
training/297 |@title japan:1 buy:1 95:1 000:1 tonne:1 soybean:1 china:1 |@word japanese:3 importer:2 buy:1 95:1 000:6 tonne:5 chinese:5 soybean:4 late:1 last:2 month:1 may:3 september:2 shipment:4 semi:1 annual:1 trade:2 accord:1 source:3 say:4 fob:2 premium:3 rise:1 13:2 50:2 dlrs:2 per:1 2:1 november:2 april:2 80:1 flat:1 price:3 bean:2 base:1 future:1 chicago:1 plus:1 purchase:2 include:1 spot:1 buying:1 total:1 240:2 250:2 1986:2 crop:2 1987:1 300:1 previous:1 year:3 domestic:2 demand:1 edible:2 use:2 expect:1 remain:1 stable:1 recent:1 overbought:1 sell:1 surplus:1 crusher:1 low:1 u:1 discourage:1 origin:1 crush:1
|
JAPAN BUYS SOME 95,000 TONNES SOYBEANS FROM CHINA
Japanese importers bought some 95,000
tonnes of Chinese soybeans late last month for May to September
shipment, under the semi-annual trade accords, trade sources
said.
The FOB premium rose to 13.50 dlrs per tonne, up 2.50 dlrs
from the premium for the November to April shipment, but down
from 13.80 for the last May to September shipment.
Flat prices for Chinese beans are based on futures prices
in Chicago plus the FOB premium.
Japanese purchases of Chinese soybeans, including spot
buying, may have totalled 240,000 to 250,000 tonnes of the 1986
crop for November to April 1987 shipment, down from some
300,000 tonnes the previous year, the sources said.
Domestic demand for edible-use soybeans is expected to
remain stable at about 240,000 to 250,000 tonnes a year, the
sources said.
In recent years Japanese importers have overbought Chinese
edible-use soybeans and sold the surplus to domestic crushers,
but low 1986 U.S. Crop prices have discouraged the purchase of
Chinese origin beans for crushing, they said.
|
training/2970
|
training/2970 |@title iraq:1 turkey:1 oil:1 pipeline:1 cut:1 landslide:1 |@word turkey:2 oil:4 pipeline:2 near:1 southern:1 town:1 adana:1 cut:1 landslide:2 hurriyet:1 anatolian:1 news:1 agency:1 say:2 little:1 lose:1 friday:1 night:1 tap:1 one:1 mln:1 bpd:1 line:1 switch:1 accident:1 carry:1 customer:1 iraq:2 kirkuk:1 field:1 yumurtalik:1 terminal:1 turkish:1 mediterranean:1 coast:1 main:1 outlet:1
|
IRAQ-TURKEY OIL PIPELINE CUT BY LANDSLIDE
Turkey oil pipeline near the southern town of Adana after it
was cut by a landslide, the Hurriyet and Anatolian news
agencies said.
Little oil was lost in the landslide Friday night because
taps on the one mln bpd line were switched off after the
accident, they said.
The pipeline, which carries oil for Turkey and other
customers from Iraq's Kirkuk field to the Yumurtalik terminal
on the Turkish Mediterranean coast, is Iraq's main oil outlet.
|
training/2971
|
training/2971 |@title brazil:1 seamen:1 continue:1 strike:1 court:1 decision:1 |@word hundred:1 marines:3 alert:1 11:1 key:1 brazilian:1 port:4 40:1 000:1 seaman:4 decide:2 remain:1 indefinite:1 strike:3 even:1 high:1 labour:1 court:1 yesterday:1 rule:1 illegal:1 union:3 leader:3 say:6 halt:1 first:1 national:2 25:1 year:1 start:1 february:1 27:1 would:2 return:1 work:1 unless:1 get:1 275:1 pct:1 pay:1 rise:1 shipowner:1 offer:1 100:1 per:1 cent:1 raise:1 reject:1 nothing:1 lose:1 want:1 lay:1 worker:1 fine:1 determined:1 carry:1 protest:1 end:1 meeting:1 take:2 ship:2 abandon:1 vessel:1 let:1 handle:1 situation:1 spokesman:1 rio:1 de:1 janeiro:1 order:1 send:1 marine:1 give:1 navy:1 minister:1 henrique:1 saboya:1 ground:1 area:1 security:1 incident:1 cut:1 export:1 import:1 make:1 estimate:1 160:1 idle:1 petrol:1 station:1 owner:1 four:1 state:1 also:1 continue:1 shutdown:1 fear:1 combination:1 two:1 stoppage:1 could:1 lead:1 serious:1 fuel:1 shortage:1
|
BRAZIL SEAMEN CONTINUE STRIKE AFTER COURT DECISION
Hundreds of marines were on alert
at 11 key Brazilian ports after 40,000 seamen decided to remain
on indefinite strike, even after the Higher Labour Court
yesterday ruled it illegal, union leaders said.
The halt, the first national strike by seamen in 25 years,
started on February 27, and union leaders said they would not
return to work unless they got a 275 pct pay rise. Shipowners
have offered a 100 per cent raise, which the seamen rejected.
'We have nothing to lose. If they want to lay off the
workers, fine, but we are determined to carry on with our
protest until the end,' a union leader said.
He said they had decided in a meeting that if the marines
take over the ships, the seamen would abandon the vessels and
let the marines handle the situation by themselves.
A spokesman for the Rio de Janeiro Port said the order to
send marines to take over the ports was given by Navy Minister
Henrique Saboya on grounds that ports are areas of national
security. But he said there were no incidents. The strike has
cut exports and imports and made an estimated 160 ships idle.
Petrol station owners in four states also continued their
shutdown and there were fears that the combination of the two
stoppages could lead to a serious fuel shortage.
|
training/2973
|
training/2973 |@title ecuador:1 export:1 oil:1 four:1 month:1 official:1 |@word suspension:1 ecuador:10 crude:4 oil:7 shipment:1 earthquake:2 cut:1 pipeline:7 last:3 least:1 four:1 month:3 senior:1 energy:2 ministry:3 official:4 say:7 could:2 resume:1 export:3 repair:2 40:1 km:3 section:1 510:1 link:1 jungle:1 field:1 lago:1 agrio:1 balao:1 pacific:1 coast:1 would:4 take:2 100:1 mln:4 u:1 dlrs:5 want:1 name:1 tell:1 reuters:1 enough:1 meet:1 domestic:2 demand:1 35:1 day:3 import:2 supplement:1 stock:1 thursday:1 night:1 register:1 six:1 12:1 point:1 international:2 mercalli:1 scale:1 damage:2 severe:1 economic:1 blow:1 account:1 two:1 third:1 total:2 much:1 60:2 pct:1 government:1 revenue:1 financially:1 press:1 member:1 organisation:1 petroleum:1 exporting:1 countries:1 opec:1 recently:1 pump:1 260:1 000:2 barrel:2 per:1 bpd:3 50:1 output:1 quota:1 assign:1 cartel:1 another:1 spokesman:1 year:1 average:1 173:1 500:1 accord:1 central:1 bank:2 however:1 may:2 build:2 emergency:2 25:1 cost:1 15:1 20:1 hook:1 colombian:1 first:1 estimate:1 squeeze:1 slide:1 world:1 price:1 1986:1 138:1 net:1 reserve:1 end:1 january:2 equal:1 one:1 suspend:1 interest:1 payment:1 5:1 4:1 billion:2 owe:1 400:1 private:1 foreign:2 country:1 debt:1 8:1 16:1 eighth:1 large:1 latin:1 america:1 caracas:1 president:1 jaime:1 lusinchi:2 venezuela:3 loan:2 five:1 next:1 three:1 make:1 loss:1 ask:1 guarantee:1 supply:1 ship:1 equivalent:1 volume:1 back:1 repayment:1 commission:1 head:1 venezuelan:1 investment:1 fund:1 minister:1 hector:1 hurtado:1 include:1 representative:1 interior:1 defence:1 state:1 company:1 petroleos:1 de:1 travel:1 tuesday:1 evaluate:1 co:1 ordinate:1 relief:1 program:1
|
ECUADOR TO EXPORT NO OIL FOR FOUR MONTHS, OFFICIAL
The suspension of Ecuador's crude oil
shipments after an earthquake cut an oil pipeline will last at
least four months, a senior Energy Ministry official said.
The official said Ecuador could resume exports after
repairing a 40 km section of the 510 km pipeline, which links
jungle oil fields at Lago Agrio to Balao on the Pacific coast.
It would take about 100 mln U.S. Dlrs to repair the pipeline,
the official, who did not want to be named, told Reuters.
Ecuador had enough oil to meet domestic demand for about 35
days and would have to import crude to supplement stocks.
The earthquake last Thursday night registered six on the
12-point international Mercalli scale. The damage to the
pipeline was a severe economic blow to Ecuador, where oil
accounts for up to two-thirds of total exports and as much as
60 pct of government revenues.
Financially pressed Ecuador, a member of the Organisation
of Petroleum Exporting Countries (OPEC), was recently pumping
about 260,000 barrels per day (bpd) of crude, about 50,000 bpd
above the output quota assigned by the cartel, another Energy
Ministry spokesman said. Last year, it exported an average of
173,500 bpd, according to the central bank.
However, Ecuador might build an emergency 25 km pipeline,
costing 15 to 20 mln dlrs, to hook up with a Colombian
pipeline, the first official said. He estimated it could take
about 60 days to build.
Ecuador, squeezed by the slide in world oil prices in 1986,
had only 138 mln dlrs in net international reserves at the end
of January, about equal to one month's imports.
It suspended interest payments in January on 5.4 billion
dlrs owed to about 400 private foreign banks. The country's
total foreign debt is 8.16 billion dlrs, the eighth largest in
Latin America.
In Caracas, President Jaime Lusinchi said Venezuela would
loan five mln barrels of crude to Ecuador over the next three
months to make up for losses from damage to the pipeline.
Ecuador asked for the loan to guarantee domestic supplies
and would ship an equivalent volume back to Venezuela in
repayment in May, Lusinchi said.
A commission headed by Venezuelan Investment Fund Minister
Hector Hurtado and including representatives from the interior
and defence ministries and the state oil company Petroleos de
Venezuela will travel to Ecuador Tuesday to evaluate and
co-ordinate an emergency relief program, he said.
|
training/2974
|
training/2974 |@title ec:1 farm:1 liberalisation:1 see:1 hurt:1 thai:1 tapioca:1 |@word european:2 community:1 decision:1 liberalise:1 farm:2 trade:2 policy:1 would:2 hurt:1 thailand:6 tapioca:6 industry:1 say:4 ammar:3 siamwalla:1 agro:1 economist:1 development:1 research:2 institute:1 tdri:2 tell:1 weekend:1 seminar:1 ec:6 move:1 cut:2 tariff:2 protection:1 grain:1 make:1 many:1 crop:2 competitive:1 market:2 large:1 buyer:1 thai:2 absorb:1 two:1 third:1 5:2 8:1 mln:2 tonne:2 pellet:1 export:2 last:1 year:2 quota:1 average:1 25:1 1990:1 benefit:1 loophole:1 subject:1 preferential:1 six:1 pct:1 import:1 duty:1 head:1 agricultural:1 group:1 suggest:1 farmer:1 diversify:1 cereal:1 price:2 europe:1 fall:1 close:1 world:1 disappear:1 completely:1 issue:1 may:1 put:1 dilemma:1 recently:1 join:1 major:1 commodity:1 producer:1 call:1 product:1 subsidy:1
|
EC FARM LIBERALISATION SEEN HURTING THAI TAPIOCA
Any European Community decision to
liberalise farm trade policy would hurt Thailand's tapioca
industry, said Ammar Siamwalla, an agro-economist at the
Thailand Development Research Institute (TDRI).
He told a weekend trade seminar here that any EC move to
cut tariff protection for EC grains would make many crops more
competitive than tapioca in the European market.
The EC is the largest buyer of Thai tapioca, absorbing more
than two thirds of the 5.8 mln tonnes of pellets exported by
Thailand last year. Thailand has an EC quota of an average 5.25
mln tonnes a year until 1990.
Ammar said Thailand had benefited from an EC tariff
loophole that subjects Thai tapioca to a preferential six pct
import duty.
Ammar, head of the agricultural research group of the TDRI,
suggested tapioca farmers diversify to other crops.
He said: 'If cereal prices in Europe fall so that they are
close to world prices, the tapioca market there will disappear
completely.'
He said the issue may put Thailand in a dilemma because it
had recently joined other major commodity producers in calling
on the EC to cut its farm product export subsidies.
|
training/2975
|
training/2975 |@title china:1 raise:1 crop:1 price:1 increase:1 output:1 |@word china:4 raise:1 price:4 pay:1 farmer:3 cotton:1 edible:1 oil:4 sugar:1 cane:1 beet:1 reverse:1 decline:1 output:2 1986:1 kang:1 minister:1 agriculture:2 animal:1 husbandry:1 fishery:1 say:5 daily:1 quote:1 adopt:1 intensive:1 farming:1 increase:3 per:1 hectare:2 improve:1 crop:1 quality:1 maintain:1 arable:1 land:1 111:1 mln:5 give:2 detail:2 grain:3 state:4 cut:1 quota:1 purchase:2 50:1 tonne:2 abolish:1 practice:1 agent:1 investment:1 supply:2 fertiliser:3 diesel:3 production:1 material:1 stabilise:1 offer:1 cheap:1 payment:1 advance:1 contract:1 low:1 fix:1 aim:1 produce:1 425:1 450:1 1990:1 target:1 405:1 year:2 actual:1 391:1 last:1
|
CHINA RAISES CROP PRICES TO INCREASE OUTPUT
China has raised the prices it pays
farmers for cotton, edible oil, sugar cane and beets to reverse
a decline in output in 1986, He Kang, Minister of Agriculture,
Animal Husbandry and Fisheries said.
The China Daily quoted He as saying China should adopt
intensive farming to increase per hectare output and improve
crop quality and maintain arable land at 111 mln hectares. He
gave no details of the price increases.
On grain, He said the state will cut the quota it purchases
from farmers by 50 mln tonnes and abolish the practice of
purchasing through agents.
He said the state will increase investment in agriculture
and supplies of fertiliser, diesel oil and other production
materials and stabilise fertiliser and diesel oil prices.
The state offers cheap fertiliser and diesel oil and
payment in advance to farmers who contract to supply grain at a
low state-fixed price.
He said China aims to produce between 425 and 450 mln
tonnes of grain by 1990, up from a target of 405 mln this year
and an actual 391 mln last year.
He gave no more details.
|
training/2976
|
training/2976 |@title australia:1 sell:1 180:1 000:1 tonne:1 sugar:1 ussr:1 |@word australia:2 sell:1 180:1 000:3 tonne:3 raw:1 sugar:2 soviet:3 union:2 shipment:2 next:1 week:1 queensland:1 primary:1 industries:1 minister:1 neville:1 harper:2 say:3 loading:1 50:1 cargo:1 freighter:1 nikolay:1 kuznetsov:1 odessa:1 complete:1 today:1 lucinda:1 terminal:1 statement:1 balance:1 ship:1 mackay:1 end:1 march:1 export:1 159:1 1986:1
|
AUSTRALIA SELLS 180,000 TONNES OF SUGAR TO USSR
Australia sold 180,000 tonnes of raw
sugar to the Soviet Union for shipment in the next few weeks,
Queensland Primary Industries Minister Neville Harper said.
Loading of a 50,000-tonne cargo on the Soviet freighter
Nikolay Kuznetsov for shipment to Odessa was completed today at
the Lucinda terminal, he said in a statement.
The balance will be shipped from Mackay by end-March,
Harper said.
Australia exported 159,000 tonnes of sugar to the Soviet
Union in 1986.
|
training/2977
|
training/2977 |@title thai:1 natural:1 rubber:1 export:1 rise:1 1986:1 |@word thai:2 natural:1 rubber:2 export:2 rise:2 763:1 331:1 tonne:5 1986:2 689:1 964:1 year:2 earlier:1 private:1 board:1 trade:1 say:2 japan:1 big:1 buyer:2 import:1 384:1 622:1 348:1 855:1 previous:1 major:1 u:1 86:1 383:1 81:1 629:1 1985:2 china:1 69:1 952:1 60:1 296:1 west:1 germany:1 32:1 172:1 25:1 909:1 france:1 20:1 479:1 12:1 143:1 austria:1 6:1 048:1 4:2 104:1 italy:1 014:1 1:1 340:1
|
THAI NATURAL RUBBER EXPORTS RISE IN 1986
Thai natural rubber exports rose to
763,331 tonnes in 1986 from 689,964 a year earlier, the private
Board of Trade said.
Japan, the biggest buyer, imported 384,622 tonnes of Thai
rubber in 1986, up from 348,855 the previous year, it said.
Other major buyers were the U.S. At 86,383 tonnes, up from
81,629 in 1985, China 69,952 (60,296) and West Germany 32,172
(25,909).
Exports to France rose to 20,479 tonnes from 12,143 in
1985, Austria 6,048 (4,104), and Italy 4,014 tonnes (1,340).
|
training/2978
|
training/2978 |@title australian:1 beef:1 output:1 decline:1 january:1 |@word australian:1 beef:2 output:2 decline:2 104:1 353:1 tonne:2 carcass:1 weight:1 january:2 112:1 262:1 december:2 105:1 715:1 year:2 earlier:2 statistic:1 bureau:2 say:2 follow:2 cattle:2 slaughter:2 472:1 900:1 head:2 509:1 500:1 478:1 800:1 1986:2 cumulative:1 first:1 seven:1 month:1 fiscal:1 87:1 end:1 june:1 30:1 rise:2 838:1 416:1 746:1 837:1 3:2 84:1 mln:2 40:1
|
AUSTRALIAN BEEF OUTPUT DECLINES IN JANUARY
Australian beef output declined to
104,353 tonnes carcass weight in January from 112,262 in
December and 105,715 a year earlier, the Statistics Bureau
said.
This followed a decline in the cattle slaughter to 472,900
head from 509,500 in December and 478,800 in January 1986, the
bureau said.
But cumulative beef output for the first seven months of
fiscal 1986/87 ending June 30 rose to 838,416 tonnes from
746,837 a year earlier following a rise in cattle slaughter to
3.84 mln head from 3.40 mln.
|
training/2979
|
training/2979 |@title german:1 government:1 need:1 see:1 raise:1 bond:1 yield:1 |@word increase:5 federal:6 government:15 borrowing:7 need:3 grow:2 unwillingness:1 foreign:7 investor:5 buy:1 mark:11 asset:1 could:1 push:2 yield:5 german:2 public:2 authority:2 bond:7 higher:2 year:7 market:4 source:9 say:14 moment:1 sideways:1 movement:1 short:2 term:3 rate:4 move:2 long:1 end:1 depend:1 strongly:2 foreigner:1 one:3 portfolio:3 manager:4 large:2 security:1 investment:1 house:1 frankfurt:1 also:4 already:3 step:2 programme:1 anticipation:1 friday:2 loan:4 stock:4 third:1 note:4 carry:1 10:1 maturity:1 coupon:2 six:1 pct:9 price:3 100:1 1:1 4:3 5:5 97:1 issue:6 compare:1 last:3 3:3 99:1 75:1 dealer:3 enough:1 attract:1 would:8 future:1 want:1 borrow:2 soon:1 size:2 introduction:1 four:1 billion:7 volume:1 start:1 may:3 finance:2 ministry:2 economist:2 add:3 condition:1 capital:1 currently:1 remain:1 fairly:1 favourable:1 raise:3 new:3 debt:3 recently:3 sell:2 abroad:1 90:1 place:1 recent:2 stabilisation:1 u:1 dollar:3 however:1 begin:1 back:3 away:1 hope:1 currency:1 gain:2 diminish:1 18:1 make:3 net:3 23:1 1986:1 bundesbank:2 statistic:1 show:1 26:1 6:2 indicate:1 type:1 access:1 fund:1 acceptable:1 form:2 although:1 credit:1 partly:1 inflate:1 amount:1 mature:1 factor:1 include:1 tax:6 reduction:1 program:1 reduce:2 income:2 next:2 problem:1 reform:3 cut:3 top:1 53:1 56:1 1988:1 difficult:1 fall:4 far:2 cover:1 40:1 lose:1 revenue:1 expenditure:1 force:1 besides:1 three:1 twice:1 total:1 43:1 fix:1 medium:1 kassenobligation:1 expect:2 trouble:1 keep:1 plan:1 22:1 though:1 many:1 agree:1 trend:1 probably:1 continue:1 come:1 effect:1 effort:1 mean:2 week:2 slightly:1 firm:1 balance:1 calculation:1 64:1 66:1 earlier:1 demand:2 slack:1 sentiment:1 rise:1 good:1 bank:1 london:1 slight:1 appreciation:1 even:1
|
GERMAN GOVERNMENT NEEDS SEEN RAISING BOND YIELDS
Increased federal government borrowing
needs and a growing unwillingness by foreign investors to buy
mark assets could push yields in German public authority bonds
higher this year, bond market sources say.
'At the moment we have a sideways movement in the short-term
rates. But how rates move in the long end will depend strongly
on foreigners,' one portfolio manager for a large securities
investment house in Frankfurt said.
The sources also said the government had already stepped up
its borrowing programme in anticipation on increased needs.
Friday's loan stock was the third this year already, the
sources noted. It carried a 10-year maturity, a coupon of six
pct and price of 100-1/4 to yield 5.97 pct at issue.
This compared with the last issue which had a 5-3/4 pct
coupon priced at 99-3/4 pct for a yield of 5.75 pct.
But dealers said the terms were not enough to attract
foreign investors, and the federal government would have to
push yields higher in future if it wanted to borrow again soon.
Sources noted federal government issues had also increased
in size, with the introduction of a four billion mark volume
only starting last May.
One finance ministry economist said 'It isn't more. It's
just the size (of each bond) which has increased.' He added
conditions in the capital market currently remained fairly
favourable for raising new debt.
Until recently, federal issues sold very strongly abroad,
with up to 90 pct of some being placed with foreign investors.
With the recent stabilisation of the U.S. Dollar, however,
foreign investors have begun to back away from the market, as
hopes of further currency gains in marks diminish.
Sources said the government has may have already stepped up
its borrowing, having raised more than 18 billion marks.
The government made net borrowings of 23 billion marks in
1986. But Bundesbank statistics showed that net borrowing
through bonds was 26.6 billion.
The sources said this indicated a move by the government
out of other types of debt to gain access to foreign funds
through the more acceptable loan stock form.
Although new credit needs were partly inflated by a large
amount of issues maturing recently, other factors, including
the government's tax reduction program, would also reduce
income next year. 'The problem here will be the tax reform,' the
portfolio manager said.
He added that the government's cut in its top income tax
rate to 53 pct from 56 pct in 1988 would make it difficult for
the government to reduce borrowings.
The sources said the government would fall far short of
covering all of its 40 billion marks in lost revenue from the
tax reform by making expenditure cuts and would be forced to
fall back on debt markets in one form or the other.
The portfolio manager noted that besides the three federal
government loan stocks so far this year, it has also fallen
back twice to raise a total 6.43 billion marks through the
issue of fixed-rate medium-term 'Kassenobligation' notes.
A finance ministry economist said the government did not
expect to have any trouble keeping to its plan to borrow only a
net 22.3 billion marks this year.
Though many sources agreed, they added that the trend would
probably not continue next year as the further tax cuts come
into effect.
'I would expect the efforts for a further tax reform would
mean government borrowing will increase,' the manager said.
Bond prices last week were slightly firmer on balance, with
the Bundesbank's public authority bond yield calculation
falling to 5.64 pct on Friday from 5.66 a week earlier.
But sources said foreign demand for the new federal
government loan stock was slack, as sentiment grows that the
dollar may now rise against the mark.
'The demand wasn't so good,' a dealer for a German bank in
London said.
The dollar's recent slight appreciation against the mark
even meant that foreign investors have sold mark bonds
recently, some dealers said.
|
training/298
|
training/298 |@title shv:2 say:2 make:2 tender:2 offer:2 33:2 mln:2 share:2 ic:2 gas:2 |@word
|
SHV SAYS IT MAKING TENDER OFFER FOR UP TO 33 MLN SHARES IN IC GAS
SHV SAYS IT MAKING TENDER OFFER FOR UP TO 33 MLN SHARES IN IC GAS
|
training/2982
|
training/2982 |@title ussr:1 cut:1 coal:1 price:1 japanese:1 steelmill:1 |@word soviet:2 union:2 agree:2 cut:1 coke:1 coal:3 export:2 price:2 japanese:1 steel:1 mill:1 five:1 dlrs:3 tonne:4 1987:2 88:2 start:1 april:1 1:1 exchange:1 increase:2 volume:1 industry:1 source:1 say:3 set:1 44:1 neryungrinsky:1 43:1 80:1 kuznetsky:1 fob:1 japan:2 import:1 total:1 4:2 9:1 mln:4 area:1 2:1 year:1 earlier:1 steelmaker:1 ask:1 moscow:1 cutback:1 3:1 7:1 urge:1 amount:1 6:1 5:1
|
USSR TO CUT COAL PRICE FOR JAPANESE STEELMILLS
The Soviet Union has agreed to cut its
coking coal export prices to Japanese steel mills by about five
dlrs a tonne in 1987/88 starting April 1 in exchange for an
increase in export volume, industry sources said.
The prices were set at 44 dlrs a tonne for Neryungrinsky
coal and at 43.80 dlrs for Kuznetsky coal, fob.
Japan will import a total of 4.9 mln tonnes from both
areas, up from 4.2 mln a year earlier, they said.
The steelmakers had asked Moscow to agree to a cutback to
3.7 mln tonnes in 1987/88, but the Soviet Union urged Japan to
increase the amount to 6.5 mln, they said.
|
training/2983
|
training/2983 |@title placer:1 pacific:1 hope:1 misima:1 gold:1 approval:1 soon:1 |@word placer:3 pacific:1 ltd:1 say:2 hope:1 papua:2 new:2 guinea:2 government:1 approve:1 development:1 misima:2 gold:2 project:1 next:1 month:1 follow:1 submission:1 final:1 environmental:1 plan:1 port:1 moresby:1 today:1 complete:1 major:1 documentation:1 require:1 gain:1 official:1 approval:1 proceed:1 statement:1 estimate:1 epithermal:1 deposit:1 locate:1 eastern:1 half:1 island:1 southeastern:1 coast:1 contain:1 prove:1 probable:1 reserve:1 62:1 1:2 mln:1 tonne:3 grade:1 35:1 gram:2 20:1 silver:1 exploration:1 continue:1
|
PLACER PACIFIC HOPES FOR MISIMA GOLD APPROVAL SOON
<Placer Pacific Ltd> said it hopes the
Papua New Guinea government will approve development of the
Misima gold project next month, following the submission of its
final environmental plan in Port Moresby today.
This completes the major documentation required to gain
official approval to proceed, Placer said in a statement.
Placer has estimated the epithermal deposit, located on the
eastern half of Misima Island off the southeastern coast of
Papua New Guinea, contains proven and probable reserves of 62.1
mln tonnes grading 1.35 grams/tonne gold and 20 grams/tonne
silver, and exploration is continuing.
|
training/2985
|
training/2985 |@title bangladesh:1 trade:1 deficit:1 narrow:1 october:1 1986:1 |@word bangladesh:1 trade:1 deficit:1 narrow:1 1:1 91:1 billion:9 taka:3 october:6 5:1 64:1 september:3 2:4 43:1 1985:3 central:1 bank:1 say:1 import:1 drop:1 4:3 31:1 8:1 22:1 72:1 export:1 total:1 58:1 29:1
|
BANGLADESH TRADE DEFICIT NARROWS IN OCTOBER 1986
The Bangladesh trade deficit narrowed to
1.91 billion Taka in October from 5.64 billion in September and
2.43 billion in October 1985, the Central Bank said.
Imports dropped to 4.31 billion Taka in October from 8.22
billion in September and 4.72 billion in October 1985.
Exports totalled 2.4 billion Taka in October, as against
2.58 billion in September and 2.29 billion in October 1985.
|
training/299
|
training/299 |@title cheung:1 kong:1 holdings:1 ltd:1 ckgh:1 hk:1 year:1 1986:1 |@word shr:1 3:3 25:1 h:1 k:1 dlrs:3 vs:6 1:2 40:1 final:1 div:1 52:1 cent:2 38:1 make:1 75:1 57:1 net:1 28:1 billion:1 551:1 7:1 mln:3 note:1 earning:1 exclude:1 extraordinary:1 gain:1 983:1 6:1 81:1 bonus:1 issue:1 one:2 four:2 nil:1 share:1 split:1 dividend:1 payable:1 june:1 book:1 close:1 may:1 11:1 21:1
|
CHEUNG KONG (HOLDINGS) LTD <CKGH.HK> YEAR 1986
Shr 3.25 H.K. Dlrs vs 1.40
Final div 52 cents vs 38, making 75 cents vs 57
Net 1.28 billion dlrs vs 551.7 mln
Note - Earnings excluded extraordinary gains of 983.6 mln
dlrs vs 81.3 mln. Bonus issue one-for-four vs nil. Share split
four-for-one. Dividend payable June 3, books close May 11-21.
|
training/2990
|
training/2990 |@title swiss:1 industrial:1 output:1 rise:1 fourth:1 qquarter:1 |@word swiss:1 industrial:1 output:1 rise:1 nine:1 pct:10 fourth:1 quarter:4 last:1 year:6 four:3 third:3 decline:2 three:3 final:1 month:1 1985:1 federal:1 office:1 industry:1 trade:1 labour:1 say:1 full:2 1986:1 index:1 base:1 1963:1 stand:1 166:1 159:1 record:1 previous:1 incoming:1 order:2 gain:2 five:1 fall:2 one:2 early:2 level:2 backlog:1 eight:1 straight:1 quarterly:1 end:1
|
SWISS INDUSTRIAL OUTPUT RISES IN FOURTH QQUARTER
Swiss industrial output rose nine pct in
the fourth quarter last year after a four pct third quarter
decline, and was up three pct from the final three months of
1985, the Federal Office of Industry, Trade and Labour said.
For the full year 1986 the index, base 1963, stood at 166
after up four pct from the 159 recorded the previous year.
Incoming orders gained four pct in the quarter after a five
pct third quarter fall and were up one pct from the year
earlier level. In the full year they gained one pct. The order
backlog fell eight pct, the third straight quarterly decline
and ended three pct under the year earlier level.
|
training/2993
|
training/2993 |@title asian:1 dollar:1 asset:1 exceed:1 200:1 billion:1 dlrs:1 |@word asian:1 dollar:1 market:1 continue:1 expand:1 december:6 total:1 asset:1 liability:1 rise:3 200:1 60:2 billion:15 u:1 dlrs:5 188:1 54:1 november:3 155:1 37:2 1985:3 monetary:1 authority:1 singapore:1 say:2 increase:3 come:1 mainly:1 interbank:3 activity:1 lending:1 146:1 61:1 134:1 76:1 104:1 93:1 deposit:2 158:1 52:1 147:1 95:1 120:1 03:1 respectively:1 loan:1 non:2 bank:2 customer:2 38:2 74:1 64:1 44:1 33:2 81:1 28:1 02:1
|
ASIAN DOLLAR ASSETS EXCEED 200 BILLION DLRS
The Asian dollar market continued to
expand in December with total assets and liabilities rising to
200.60 billion U.S. Dlrs from 188.54 billion in November and
155.37 billion in December 1985, the Monetary Authority of
Singapore said.
It said the increase came mainly from interbank activity,
with interbank lending rising to 146.61 billion dlrs in
December from 134.76 billion in November and 104.93 billion in
December 1985.
Interbank deposits increased to 158.52 billion dlrs against
147.95 billion and 120.03 billion, respectively.
Loans to non-bank customers increased in December to 38.74
billion dlrs from 38.64 billion in November and 37.44 billion
in December 1985.
Deposits by non-bank customers rose to 33.81 billion dlrs
against 33.60 billion and 28.02 billion.
|
training/2994
|
training/2994 |@title singapore:1 1:1 money:1 supply:1 3:1 7:1 pct:1 december:1 |@word singapore:2 1:5 money:2 supply:2 rise:4 3:1 7:2 pct:8 december:7 9:1 82:1 billion:8 dlrs:4 2:3 0:3 increase:3 november:6 monetary:1 authority:1 mas:2 say:2 growth:3 calendar:1 1986:1 11:1 8:1 compare:1 4:6 year:7 end:4 late:1 monthly:1 statistical:1 bulletin:1 largely:1 due:1 seasonal:1 demand:2 deposit:1 component:1 79:1 62:1 05:1 1985:1 currency:1 active:1 circulation:1 5:1 03:1 85:1 74:1 earlier:1 broadly:1 base:1 6:1 30:1 95:1 bring:1 10:2
|
SINGAPORE M-1 MONEY SUPPLY UP 3.7 PCT IN DECEMBER
Singapore's M-1 money supply rose 3.7
pct during December to 9.82 billion dlrs, after a 2.0 pct
increase in November, the Monetary authority of Singapore (MAS)
said.
M-1 growth for calendar 1986 was 11.8 pct compared with 4.0
pct growth over the year ending in November.
MAS said in its latest monthly statistical bulletin the
December increase was largely due to seasonal year-end demand.
The demand deposit component of M-1 increased to 4.79
billion dlrs in December from 4.62 billion in November and 4.05
billion in December 1985.
Currency in active circulation rose to 5.03 billion dlrs in
December from 4.85 billion in November and 4.74 billion a year
earlier.
Broadly-based M-2 money supply rose 1.6 pct to 30.95
billion dlrs during December after a 1.7 pct rise in November,
bringing year-on-year growth to 10.0 pct for the year ending in
December against 10.2 pct for the year ending in November.
|
training/2995
|
training/2995 |@title chinese:1 industrial:1 growth:1 rate:1 weak:1 1986:1 |@word value:1 china:2 industrial:4 output:2 january:3 february:2 year:4 14:1 1:1 pct:5 high:1 1986:5 period:1 new:1 news:1 agency:3 say:5 increase:3 5:1 6:1 1985:2 0:1 9:2 recent:1 largely:1 due:2 last:3 poor:1 performance:1 significant:1 improvement:1 make:1 economic:1 result:2 add:1 success:1 report:1 readjust:1 product:1 mix:1 quarter:1 amount:1 tie:1 work:1 capital:1 rise:1 sizeable:1 fund:1 occupy:1 unsaleable:1 good:1 quote:1 unnamed:1 economist:1 expect:1 1987:1 production:1 proper:1 rate:1 well:1 cost:1 efficiency:1 drive:1 underway:1 throughout:1 country:1 give:1 detail:1 official:1 growth:1 target:1 seven:1 actual:1 2:1
|
CHINESE INDUSTRIAL GROWTH RATE UP AFTER WEAK 1986
The value of China's industrial output in
January and February this year was 14.1 pct higher than in the
same 1986 period, the New China News Agency said.
Output increased by 5.6 pct from January 1985 to January
1986 and 0.9 pct from February 1985 to 1986.
The agency said the most recent increase was largely due to
last year's poor performance. 'No significant improvement was
made in economic results,' it said, adding that some successes
were reported in readjusting the industrial product mix in the
last quarter of 1986.
The agency said the amount of tied up working capital rose
and sizeable funds were occupied by unsaleable goods in 1986.
It quoted unnamed economists as saying they expect 1987
industrial production to increase at a proper rate and with
better results, due to a cost-efficiency drive underway
throughout the country. It gave no more details.
The official industrial growth target this year is seven
pct, down from an actual 9.2 pct last year.
|
training/2996
|
training/2996 |@title new:1 dutch:1 advance:1 total:1 6:1 5:1 billion:1 guilde:1 |@word dutch:1 central:1 bank:1 say:1 accept:1 bid:1 total:1 6:1 5:2 billion:2 guilde:3 tender:1 new:2 eleven:1 day:2 special:1 advance:2 3:1 pct:2 cover:1 period:1 march:1 9:1 20:1 aim:1 relieve:1 money:1 market:1 tightness:1 subscription:1 500:2 mln:2 meet:1 full:1 amount:1 35:1 facility:1 replace:1 old:1 seven:1 worth:1 4:1 8:1 rate:1
|
NEW DUTCH ADVANCES TOTAL 6.5 BILLION GUILDERS
The Dutch central bank said it has
accepted bids totalling 6.5 billion guilders at tender for new
eleven-day special advances at 5.3 pct covering the period
March 9 to 20 aimed at relieving money market tightness.
Subscriptions to 500 mln guilders were met in full, amounts
above 500 mln at 35 pct.
The new facility replaces old seven-day advances worth 4.8
billion guilders at the same rate.
|
training/2998
|
training/2998 |@title iran:1 sell:1 discount:1 crude:1 japan:1 trader:1 say:1 |@word japanese:6 customer:2 buy:2 nearly:1 six:1 mln:3 barrel:4 crude:4 oil:6 national:1 iranian:5 company:3 nioc:2 substantial:1 discount:6 official:5 price:10 western:2 trader:5 receive:2 even:1 large:1 involve:1 transaction:1 tell:1 reuters:1 sell:2 march:1 shipment:2 different:1 formula:1 one:3 800:1 000:1 heavy:2 straight:1 30:1 35:1 cent:1 source:3 say:8 deal:1 fix:1 link:1 oman:1 dubai:1 spot:4 less:1 iran:1 sale:1 however:1 manage:1 reverse:1 bullish:2 tone:1 product:1 market:3 sentiment:2 influence:1 cold:1 weather:1 europe:1 report:1 opec:1 february:1 output:1 self:1 impose:1 quota:1 15:1 8:1 per:1 day:1 firm:1 gas:1 london:1 future:2 new:1 york:1 mercantile:1 exchange:1 support:1 level:1 another:1 trading:1 house:1 pay:2 processing:2 arrangement:2 effectively:1 disguise:1 cheat:1 purchase:1 1:1 5:1 april:1 refining:1 singapore:1 nine:1 vlcc:1 pricing:1 base:1 60:1 pct:2 40:1 part:1 relate:1
|
IRAN SELLING DISCOUNTED CRUDE, JAPAN TRADERS SAY
Japanese customers have bought nearly six
mln barrels of crude oil from the National Iranian Oil Company
(NIOC) at a substantial discount to the official price, and
Western traders have received even larger discounts, Japanese
traders involved in the transactions told Reuters.
NIOC has sold its crude for March shipment to Japanese
customers with different formulas. One company has bought
800,000 barrels of Iranian Heavy at a straight discount of
30-35 cents below the official price, the sources said.
Other deals have been fixed with prices linked to Oman and
Dubai spot prices less a discount, they said.
Iran's discounted sales have not, however, managed to
reverse the bullish tone in the crude oil and products spot
markets, oil traders said.
Market sentiment is being influenced more by the colder
weather in Europe, and reports that OPEC's February output was
below its self-imposed quota of 15.8 mln barrels per day.
Firmer gas oil on the London futures, and more bullish
sentiment on the New York Mercantile Exchange futures market
are supporting spot price levels, they said.
Another Japanese trading house has paid the official price
but through a processing arrangement will effectively receive a
discount, the sources said. 'It's just disguised cheating,' one
Japanese trader said.
The sources said only one Japanese company had paid the
official price for Iranian oil. It has purchased 1.5 mln
barrels of Iranian Heavy for April shipment for refining in
Singapore. They said about nine VLCCs of Iranian crude have
been sold to Western traders with pricing based 60 pct on the
official price and 40 pct on spot prices, or with part of the
price related to processing arrangements.
|
training/2999
|
training/2999 |@title ici:1 sell:1 stake:1 lister:1 co:1 |@word imperial:1 chemical:1 industries:1 plc:2 ici:1 l:2 say:1 today:1 place:2 19:1 4:1 pct:1 stake:1 lister:2 co:2 messel:1 widely:1 among:1 institution:1 manufacturer:1 dyer:1 finisher:1 cotton:1 silk:1 wool:1 man:1 make:1 fibre:1
|
ICI SELLS STAKE IN LISTER AND CO
Imperial Chemical Industries Plc <ICI.L>
said it had today placed its 19.4 pct stake in Lister and Co
Plc with L Messel and Co and that it had now been placed widely
among institutions.
Lister is a manufacturer, dyer and finisher of cotton, silk
wool and man-made fibres.
|
training/30
|
training/30 |@title asset:2 money:2 market:2 mutual:2 fund:2 rise:2 720:2 4:2 mln:2 dlrs:2 late:2 week:2 |@word
|
ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 720.4 MLN DLRS IN LATEST WEEK
ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 720.4 MLN DLRS IN LATEST WEEK
|
training/3001
|
training/3001 |@title u:1 k:1 money:1 market:1 shortage:1 forecast:1 250:1 mln:1 stg:1 |@word bank:2 england:1 say:2 forecast:1 shortage:1 around:2 250:1 mln:4 stg:4 money:1 market:1 today:1 among:1 factor:1 affect:1 liquidity:1 bill:2 mature:1 official:1 hand:1 treasury:1 take:2 would:4 drain:1 1:1 02:1 billion:1 target:1 banker:1 balance:1 140:1 fall:1 note:1 circulation:1 add:2 345:1 net:1 effect:1 exchequer:1 transaction:1 inflow:1 545:1
|
U.K. MONEY MARKET SHORTAGE FORECAST AT 250 MLN STG
The Bank of England said it forecast a
shortage of around 250 mln stg in the money market today.
Among the factors affecting liquidity, it said bills
maturing in official hands and the treasury bill take-up would
drain around 1.02 billion stg while below target bankers'
balances would take out a further 140 mln.
Against this, a fall in the note circulation would add 345
mln stg and the net effect of exchequer transactions would be
an inflow of some 545 mln stg, the Bank added.
|
training/3002
|
training/3002 |@title bank:1 france:1 set:1 money:1 market:1 tender:1 |@word bank:2 france:1 say:2 invite:1 offer:1 first:1 category:1 paper:1 today:2 money:4 market:3 intervention:3 tender:2 dealer:1 condition:1 seem:1 right:1 cut:1 rate:3 quarter:1 percentage:1 point:1 7:4 3:2 4:3 pct:3 eight:2 reflect:1 easing:1 call:2 last:2 week:1 french:1 franc:1 steadiness:1 foreign:1 exchange:1 since:1 february:1 22:1 currency:1 stabilisation:1 accord:1 group:1 five:1 canada:1 raise:1 1:1 january:1 2:1 quote:1 11:1 16:1
|
BANK OF FRANCE SETS MONEY MARKET TENDER
The Bank of France said it invited offers
of first category paper today for a money market intervention
tender.
Money market dealers said conditions seemed right for the
Bank to cut its intervention rate at the tender by a quarter
percentage point to 7-3/4 pct from eight, reflecting an easing
in call money rate last week, and the French franc's steadiness
on foreign exchange markets since the February 22 currency
stabilisation accord here by the Group of Five and Canada.
Intervention rate was last raised to eight pct from 7-1/4
on January 2. Call money today was quoted at 7-11/16 7-3/4 pct.
|
training/3003
|
training/3003 |@title amoco:1 report:1 south:1 china:1 sea:1 oil:1 find:1 |@word u:1 amoco:2 petroleum:1 corp:1 report:1 offshore:1 oil:1 find:1 pearl:1 river:1 basin:1 concession:1 south:1 china:2 sea:1 new:1 news:2 agency:2 say:3 liu:1 hua:1 11:1 1:2 well:2 produce:1 around:1 2:1 240:1 barrel:1 per:1 day:1 depth:1 305:1 metre:1 plan:1 drill:1 second:1 area:1 year:1 give:1 detail:1
|
AMOCO REPORTS SOUTH CHINA SEA OIL FIND
The U.S. <Amoco Petroleum Corp> has
reported an offshore oil find at its Pearl River basin
concession in the South China Sea, the New China News Agency
said.
It said the Liu Hua 11-1-1 A well produced at around 2,240
barrels per day at a depth of 305 metres.
The news agency said Amoco plans to drill a second well in
the area this year, but gave no further details.
|
training/3006
|
training/3006 |@title national:2 westminster:2 bank:2 say:2 cut:2 base:2 lending:2 rate:2 10:2 5:2 pct:4 11:2 |@word
|
NATIONAL WESTMINSTER BANK SAYS IT CUTTING BASE LENDING RATE TO 10.5 PCT FROM 11 PCT.
NATIONAL WESTMINSTER BANK SAYS IT CUTTING BASE LENDING RATE TO 10.5 PCT FROM 11 PCT.
|
training/3007
|
training/3007 |@title national:1 westminster:1 bank:1 cut:1 base:1 rate:1 |@word national:2 westminster:2 bank:2 plc:1 say:2 cut:2 base:2 lending:1 rate:3 0:1 5:2 percentage:1 point:2 10:1 pct:1 today:1 respond:1 general:1 easing:1 money:1 market:1 move:3 follow:2 signal:2 england:1 earlier:1 afternoon:1 would:2 endorse:1 half:1 surprise:1 strong:1 last:1 week:1 premature:1 however:1 since:1 pound:1 continue:1 gain:1 strongly:1
|
NATIONAL WESTMINSTER BANK CUTS BASE RATE
National Westminster Bank Plc said it has
cut its base lending rate 0.5 percentage points to 10.5 pct
today.
National Westminster said that it was responding to general
easing in money market rates.
Its move followed a signal from the Bank of England earlier
this afternoon that it would endorse a half point cut in the
base rate, a surprise move following its strong signals last
week that such a move would be premature.
However, since then the pound has continued to gain
strongly.
|
training/3008
|
training/3008 |@title u:1 facility:1 usre:1 semi:1 annual:1 dividend:1 |@word semi:1 annual:1 dividend:2 4:1 ct:1 pay:1 may:1 29:1 record:1 april:1 14:1 note:1 full:1 name:1 u:1 facilities:1 corp:1 first:1 declare:1 since:1 company:1 complete:1 initial:1 public:1 offering:1 november:1 7:1
|
U.S. FACILITIES <USRE> SEMI-ANNUAL DIVIDEND
Semi-annual dividend 4 cts
Pay May 29
Record April 14
Note: full name is U.S. Facilities Corp. This is first dividend
declared since company completed its initial public offering on
November 7.
|
training/3009
|
training/3009 |@title standard:1 pacific:1 spf:1 acquires:1 south:1 bay:1 l:1 |@word standard:4 pacific:4 lp:1 say:4 acquire:1 substantially:1 asset:2 liability:2 south:2 bay:2 savings:1 loan:4 association:3 newport:1 beach:1 firm:1 weekend:1 conduct:1 saving:3 activity:1 fa:1 federal:3 stock:2 friday:1 home:1 bank:2 board:2 washington:1 approve:1 acquisition:1 l:1 62:1 5:1 mln:2 dlr:1 state:1 chartered:1 312:1 8:1 dlrs:1 insurance:1 corp:1 make:1 cash:1 contribution:1 provide:1 capital:1 loss:1 coverage:1 indemnify:1 undisclosed:1
|
STANDARD PACIFIC <SPF> ACQUIRES SOUTH BAY S/L
Standard Pacific LP said it
has acquired substantially all of the assets and liabilities of
South Bay Savings and Loan Association of Newport Beach.
The firm said over the weekend that it will conduct its
savings and loan activities through Standard Pacific Savings
FA, a Federal stock association.
On Friday, the Federal Home Loan Bank Board in Washington
said it approved the acquisition of South Bay S and L, a 62.5
mln dlr state-chartered stock association, by Standard Pacific,
which has 312.8 mln dlrs in assets.
The Bank Board said that the Federal Savings and Loan
Insurance Corp will make a cash contribution, provide capital
loss coverage and indemnify Standard Pacific against
undisclosed liabilities.
|
training/3010
|
training/3010 |@title u:1 allow:1 temporary:1 import:1 uranium:1 |@word treasury:3 department:1 say:3 would:2 temporarily:2 permit:2 import:3 south:3 african:3 uranium:2 ore:2 oxide:2 pende:1 clarification:1 anti:1 apartheid:1 sanction:2 law:1 pass:2 congress:2 last:2 fall:2 decision:1 announce:1 late:1 friday:1 apply:1 july:1 1:1 u:3 processing:1 export:1 third:1 country:1 take:1 action:1 feel:1 comprehensive:1 bill:1 president:1 reagan:1 veto:1 intend:1 hurt:1 industry:1 addition:1 make:1 good:1 state:1 control:1 organization:1 repair:1 servicing:1
|
U.S. TO ALLOW TEMPORARY IMPORTS OF S.A. URANIUM
The Treasury Department said it would
temporarily permit imports of South African uranium ore and
oxide pending clarification of anti-apartheid sanctions laws
passed by Congress last fall.
The decision was announced late Friday. It applies, until
July 1, to uranium ore and oxide imported into the U.S. for
processing and re-export to third countries.
The Treasury said it took the action because it felt that
when Congress passed the comprehensive South African sanctions
bill last fall over President Reagan's veto it had not intended
to hurt U.S. industry.
In addition, the Treasury said it would permit U.S.-made
goods to be imported temporarily from South African
state-controlled organizations for repair or servicing.
|
training/3013
|
training/3013 |@title piedmont:1 pie:1 agree:1 usair:1 u:1 buyout:1 |@word usair:12 group:1 inc:3 say:10 piedmont:14 aviation:1 agree:1 acquire:4 69:1 dlrs:3 per:3 share:15 company:2 newspaper:1 advertisement:1 start:1 tender:3 offer:6 price:2 board:2 two:1 director:1 absent:1 unanimously:1 approve:1 bid:4 withdrawal:1 right:1 expire:1 april:1 three:1 unless:1 extend:1 follow:1 merger:2 grant:1 irrevocable:1 option:1 buy:4 3:1 491:1 030:1 new:1 certain:1 circumstance:1 18:1 6:1 mln:2 outstanding:1 condition:2 receipt:1 enough:1 give:1 least:1 50:2 1:3 pct:3 interest:1 fully:1 diluted:1 basis:2 approval:1 u:1 department:3 transportation:2 voting:2 trust:2 agreement:2 permit:1 hold:1 pende:1 review:1 application:3 gain:1 control:2 provide:2 amend:1 without:2 prior:1 write:1 consent:2 way:1 would:3 adverse:1 shareholder:1 could:2 cut:1 number:4 reduce:1 purchase:1 less:1 minimum:2 need:2 cause:1 satisfied:1 case:1 pro:1 rata:1 february:1 pay:1 71:1 cash:1 stock:1 55:1 90:1 remain:1 last:1 week:1 carl:1 c:1 icahn:1 trans:1 world:1 airlines:1 twa:4 make:1 conditional:1 52:1 reject:2 friday:2 ground:1 fail:1 comply:1 regulation:1 omit:1 necessary:1 information:2 refile:1 today:1 already:1 four:1 15:1
|
PIEDMONT <PIE> AGREES TO USAIR <U> BUYOUT
USAir Group Inc said Piedmont Aviation
Inc has agreed to be acquired for 69 dlrs per share.
The company, in a newspaper advertisement, said it has
started a tender offer for all Piedmont shares at that price,
and the Piedmont board, with two directors absent, has
unanimously approved the bid. The offer and withdrawal rights
are to expire April Three unless extended, and the bid is to be
followed by a merger at the same price.
USAir said Piedmont has granted it an irrevocable option to
buy up to 3,491,030 new shares under certain circumstances.
Piedmont now has about 18.6 mln shares outstanding.
USAir said the tender is conditioned on receipt of enough
shares to give USAir at least a 50.1 pct interest in Piedmont
on a fully diluted basis and approval by the U.S. Department of
Transportation of a voting trust agreement permitting USAir to
buy and hold shares pending review of its application to gain
control of Piedmont.
The company said its merger agreement with Piedmont
provides that the offer is not to be amended without Piedmont's
prior written consent in any way that would be adverse to
Piedmont shareholders, but it said it could cut the number of
shares to be bought without Piedmont's consent.
USAir said it could reduce the number of Piedmont shares to
be purchased in the offer to no less than the minimum number
needed to cause the voting trust condition of the bid to be
satisfied.
In that case, it said if more than that minimum number of
shares were tendered, it would buy shares on a pro rata basis.
In February USAir had offered to pay 71 dlrs per share in
cash for 50 pct of Piedmont's stock and 1.55 to 1.90 USAir
shares for each remaining Piedmont share.
Last week, Carl C. Icahn-controlled Trans World Airlines
Inc <TWA> made a conditional offer to acquire USAir for 52 dlrs
per share, a bid that was rejected by the USAir board.
The Transportation Department on Friday rejected TWA's
application to acquire USAir on the grounds that the
application failed to comply with department regulations by
omitting necessary information. TWA said it would refile
today, providing the information needed.
On Friday TWA said it had already acquired four mln shares
or 15 pct of USAir.
|
training/3015
|
training/3015 |@title api:1 report:1 sharp:1 fall:1 drilling:1 |@word estimate:1 oil:3 gas:3 drilling:1 completion:1 united:1 states:1 drop:1 almost:1 41:1 per:1 cent:1 1986:1 1985:2 american:1 petroleum:1 institute:1 say:2 api:1 industry:1 group:1 42:1 387:1 well:6 complete:1 last:1 year:1 total:2 19:1 741:1 8:1 645:1 natural:1 14:1 001:1 dry:2 hole:2 71:1 539:1 drill:1 36:1 834:1 13:1 036:1 21:1 669:1
|
API REPORTS SHARP FALL IN DRILLINGS
Estimated oil and gas drilling
completions in the United States dropped by almost 41 per cent
in 1986 from 1985, the American Petroleum Institute said.
API, an industry group, said that of the 42,387 wells
completed last year, a total of 19,741 were oil wells, 8,645
were natural gas wells and 14,001 were dry holes.
In 1985, a total of 71,539 wells were drilled - 36,834 oil
wells, 13,036 gas wells and 21,669 dry holes.
|
training/3016
|
training/3016 |@title u:1 k:1 credit:1 business:1 fall:1 january:1 |@word new:1 credit:6 advance:4 finance:2 house:2 retailers:1 bank:2 card:3 specialist:2 provider:1 slip:1 2:2 66:1 billion:5 stg:5 january:5 78:1 december:2 remain:1 close:1 average:1 level:1 1986:1 fourth:1 quarter:1 department:3 trade:1 industry:1 say:4 total:5 1:2 15:1 advanced:1 three:6 month:6 basis:1 november:1 3:3 0:6 pct:6 low:1 previous:2 within:1 lending:2 consumer:1 fall:1 6:1 business:1 decline:1 5:1 end:1 1987:1 amount:2 outstanding:2 24:1 07:1 23:1 77:1 earlier:1 see:1 rise:2 300:1 mln:1 grantor:1 retailer:2 late:2 two:1 period:1 less:1
|
U.K. CREDIT BUSINESS FALLS IN JANUARY
New credit advanced by finance houses,
retailers, bank credit cards and other specialist providers of
credit slipped to 2.66 billion stg in January from 2.78 billion
in December - but remained close to the average level for
1986's fourth quarter, the Department of Trade and Industry
said.
Of the January total, 1.15 billion stg was advanced on bank
credit cards.
On a three-month basis, total advances in November to
January were 3.0 pct lower than in the previous three months.
Within this total, lending to consumers fell by 6.0 pct and
lending to businesses declined by 5.0 pct.
At end-January 1987, the total amount outstanding was 24.07
billion stg, up from December's 23.77 billion stg and 3.0 pct
above the total three months earlier, the department said.
January saw a rise of 300 mln stg in amounts outstanding to
finance houses, other specialist credit grantors and retailers.
The department said advances on credit cards rose by 1.0
pct between the latest two three-month periods. Retailers
advanced 3.0 pct less in the latest three months than in the
previous three months, it said.
|
training/3017
|
training/3017 |@title brazilian:1 seafarer:1 strike:1 damage:1 oil:1 export:1 |@word strike:3 brazil:2 40:1 000:1 seafarer:1 want:1 pay:1 rise:1 180:1 pct:1 may:1 cost:1 state:1 oil:1 company:2 petrobra:1 20:1 mln:1 dlrs:1 lose:1 export:1 order:1 commercial:1 director:1 arthur:1 de:1 carvalho:1 quote:1 say:2 press:1 report:1 170:1 ship:2 nine:1 foreign:1 port:1 halt:1 begin:2 february:1 27:1 marines:1 blockade:1 friday:1 rule:1 illegal:1 striker:1 run:1 short:1 food:1 national:1 merchant:1 marine:1 union:1 president:1 edson:1 areias:1
|
BRAZILIAN SEAFARERS' STRIKE DAMAGES OIL EXPORTS
A strike by Brazil's 40,000 seafarers
who want pay rises of up to 180 pct may have cost the
state-owned oil company Petrobras 20 mln dlrs in lost export
orders, the company's commercial director Arthur de Carvalho
was quoted as saying in press reports.
More than 170 ships in Brazil, and about nine more in
foreign ports, have been halted by the strike, which began on
February 27.
Marines began blockading the ships on Friday after the
strike was ruled illegal, and some strikers are running short
of food, National Merchants Marine Union president Edson Areias
said.
|
training/3019
|
training/3019 |@title oecd:1 trade:1 growth:1 see:1 slow:1 1987:1 |@word 24:1 nation:1 organisation:2 economic:3 cooperation:1 development:1 oecd:3 hamper:1 sluggish:2 industrial:1 output:2 trade:4 face:1 slow:2 growth:7 joint:1 balance:1 payment:2 swing:1 deficit:3 1987:12 economist:1 intelligence:1 unit:1 eiu:6 say:19 world:2 forecast:6 revise:1 downwards:1 2:7 5:4 pct:14 year:7 compare:1 8:2 december:4 new:1 area:1 weakness:2 west:6 germany:5 small:1 european:1 country:1 influence:1 japan:7 hardest:1 hit:1 currency:4 appreciation:1 independent:1 research:1 cut:1 rate:4 3:4 three:2 expect:4 post:2 current:2 account:2 13:2 billion:6 dlrs:6 1988:7 due:1 large:1 part:1 1:3 50:3 barrel:2 rise:1 oil:3 price:3 u:5 look:2 likely:1 fall:1 even:1 slowly:1 125:1 115:1 130:1 1986:2 31:1 dlr:2 surplus:2 76:1 see:3 drop:2 around:2 16:1 end:2 15:1 18:2 last:2 adherence:1 opec:1 policy:3 become:1 increasingly:2 rag:1 dollar:9 poise:1 resume:1 decline:1 foreign:1 exchange:1 market:1 lose:1 weight:1 index:1 five:2 4:3 average:2 mark:2 put:1 80:1 70:1 yen:4 break:1 150:2 barrier:1 value:1 146:1 crash:1 scenario:1 steep:1 angle:1 descent:1 increase:1 risk:1 fireball:1 rather:1 point:1 landing:1 talk:1 stop:1 slide:1 long:1 february:1 meeting:1 finance:1 minister:1 group:1 canada:1 produce:1 scant:1 promise:1 either:1 decisive:1 shift:1 expansive:1 tight:1 fsical:1 key:1 fortune:1 willingness:1 japanese:1 institution:1 buy:2 government:1 asset:1 despite:1 prospect:3 sustain:1 loss:1 thus:1 far:1 willing:1 eic:1 add:1 deter:1 bond:1 would:4 collapse:1 contain:1 crisis:2 interest:1 soar:1 bring:1 recession:1 third:1 debt:1 sick:1 import:2 recovery:1 german:1 economy:1 big:1 single:1 factor:1 feature:1 6:1 export:3 side:1 weak:1 demand:1 affect:1 elsewhere:1 europe:2 remain:1 flat:1 sale:1 exporter:1 respond:1 marginally:1 low:1 competitively:1 raw:1 material:1 cost:1 less:1 domestic:1
|
OECD TRADE, GROWTH SEEN SLOWING IN 1987
The 24 nations of the Organisation for
Economic Cooperation and Development (OECD), hampered by
sluggish industrial output and trade, face slower economic
growth, and their joint balance of payments will swing into
deficit in 1987, the Economist Intelligence Unit (EIU ) said.
The EIU said in its World Trade Forecast it revised OECD
economic growth downwards to 2.5 pct this year, compared with a
2.8 pct growth forecast in December.
It said the new areas of weakness are West Germany and the
smaller European countries it influences, and Japan, hardest
hit by currency appreciation this year.
The independent research organisation cut its 1987 growth
rate forecasts for West Germany to 2.2 pct from 3.2 pct in
December and to 2.3 pct from three pct for Japan.
It said it expected the OECD to post a current account
deficit of some 13 billion dlrs in both 1987 and 1988, due in
large part to a 1.50 dlrs a barrel rise in 1987 oil prices.
It said the U.S. Current account deficit looked likely to
fall even more slowly than forecast, to 125 billion dlrs in
1987 and 115 billion in 1988 from 130 billion in 1986.
It said it expected West Germany to post a 31 billion dlr
payments surplus and Japan a 76 billion dlr surplus this year.
The EIU said it saw oil prices dropping to around 16.50
dlrs a barrel by end-1987 and 15.50 dlrs in 1988 from about 18
dlrs last year, as adherence to OPEC output policy becomes
increasingly ragged.
It said the dollar is poised to resume its decline in
foreign exchange markets, and will lose a further 13 pct on its
trade-weighted index this year and five pct in 1988 after last
year's 18.4 pct drop. The average mark/dollar rate is put at
1.80 marks this year and 1.70 in 1988 while the yen/dollar rate
is expected to break through the 150 yen barrier with an
average value of 150 yen in 1987 and 146 yen in 1988, it said.
'This is not a crash scenario but the dollar's steeper
angle of descent increases the risk of ending with a fireball
rather than a three-point landing,' the EIU said.
'Talking will not stop the dollar's slide for long and the
February meeting (of finance ministers of the Group of Five and
Canada) produced scant promise of either a decisive shift to
more expansive policies in West Germany and Japan, or a tighter
U.S. Fsical policy,' it said.
It said the key to the dollar's fortunes was the
willingness of Japanese institutions to buy U.S. Government
assets despite prospects of sustaining a currency loss.
'Thus far they have been willing,' the EIC said, adding
that if Japan was deterred from buying U.S. bonds the dollar
would collapse.
To contain such a currency crisis, dollar interest rates
would have to soar, bringing recession and a Third World debt
crisis, it said.
On trade, the EIU said prospects for 1987 look
'increasingly sick.'
Import growth, forecast in December at 4.5 pct, is now seen
slowing down to around 3.8 pct in 1987 with a recovery only to
4.2 pct in 1988, it said.
The weakness of the West German economy is the biggest
single factor, with import growth there expected to feature a
sluggish 3.5 pct growth in 1987 against the 6.5 pct forecast in
December, the EIU said.
On the export side, it said it saw weak demand in West
Germany affecting export prospects elsewhere in Europe, while
Japan's exports in 1987 would remain flat and sales by U.S.
Exporters would respond only marginally to a lower, more
competitively-priced dollar.
It said in most of Europe and in Japan, raw materials and
oil will cost less in domestic currency in 1987 than in 1986.
|
training/302
|
training/302 |@title wallenberg:1 fight:1 bid:1 swedish:1 match:1 stake:1 |@word sweden:2 wallenberg:10 group:6 fight:1 back:1 bid:1 london:1 base:2 swedish:9 financier:1 erik:1 penser:3 secure:1 large:2 stake:6 match:7 smbs:1 st:9 one:2 company:5 core:2 business:2 empire:2 statement:3 issue:1 hold:3 ab:7 investor:3 forvaltning:1 providentia:3 say:5 take:1 option:2 nobel:3 industrier:3 acquire:2 33:1 pct:10 voting:6 right:6 thre:1 pay:2 nobl:1 72:1 20:1 market:1 price:1 b:1 share:6 open:1 foreign:1 buyer:1 close:2 424:1 crown:3 friday:1 increase:2 450:1 restrict:1 455:1 free:1 deal:2 49:1 4:1 14:2 8:1 capital:2 leave:1 34:1 1:1 5:1 previously:1 amount:1 52:1 cost:1 400:1 mln:1 analyst:2 make:1 expensise:1 move:1 undertake:1 last:1 four:1 year:1 defend:1 far:1 flung:1 interest:2 outside:1 predator:1 originally:1 sell:2 arm:1 chemical:1 1984:1 buy:1 volvo:1 volv:1 two:1 key:1 atlas:1 copco:1 ast:1 stora:1 koppabergs:1 skps:1 since:1 oust:1 shareholder:1 skf:1 skfr:1 skanska:1 skbs:1 frederik:1 lundberg:2 wrest:1 control:1 incentive:1 zurich:1 property:1 tycoon:1 also:2 manage:1 25:1 another:1 diary:1 equipment:1 firm:2 alfa:1 laval:1 alfs:1 1986:1 concentrate:1 build:1 prevent:1 raid:1 heart:1 position:1 electrical:1 engineering:1 asea:2 small:1 12:1 6:1 grow:1 speculation:1 force:1 fringe:1 protect:1 activity:1
|
WALLENBERGS FIGHT BID FOR SWEDISH MATCH STAKE
Sweden's Wallenberg group fought back
a bid by the London-based Swedish financier Erik Penser to
secure a large stake in Swedish Match <SMBS ST>, one of the
companies at the core of their business empire.
A statement issued by the Wallenberg holding companies AB
Investor and Forvaltnings AB Providentia said they had taken
over an option held by Nobel Industrier Sweden AB to acquire 33
pct of the voting rights in Swedish Match.
Thre Wallenbergs paid Nobel Industrier <NOBL ST>, in which
Penser group has a 72 pct stake, about 20 pct over the market
price for the Swedish Match option, the statement said.
Swedish Match's B shares open to foreign buyers closed at
424 crowns on Friday. The A shares -- with increased voting
rights -- closed at 450 crowns for the restricted and 455 for
the free shares.
The statement said the deal increased Investor's stake to
49.4 pct of the voting rights and 14.8 pct of the share capital
while Providentia is left holding 34.1 pct of the voting rights
and 14.5 pct of the share capital in Swedish Match.
The Wallenbergs' stake in Swedish Match had previously
amounted to 52 pct of the voting rights in the company.
The Swedish Match deal will cost the Wallenbergs about 400
mln crowns, share analysts said, making it one of the most
expensise moves the group has undertaken in the last four years
to defend its far-flung interests from outside predators.
The Wallenbergs originally sold Nobel Industrier, an arms
and chemicals group, to Penser in 1984 to pay for buying Volvo
<VOLV ST> out of two other key group companies, Atlas Copco
<ASTS ST> and Stora Koppabergs <SKPS ST>.
Since then, the Wallenbergs were ousted as the largest
shareholders in SKF (SKFR ST> by Skanska AB <SKBS ST> and
Frederik Lundberg wrested control of Incentive AB from them.
Lundberg, a Zurich-based Swedish property tycoon, also
managed to acquire a 25 pct stake in another Wallenberg
company, the diary equipment firm Alfa -Laval AB <ALFS ST>.
During 1986, the Wallenbergs have been concentrating on
building up their stake in Investor and Providentia to prevent
any raid on the heart of their business empire.
But analysts say the Wallenbergs' position in the
electrical engineering firm ASEA AB <ASEA ST> is also too small
at 12.6 pct of the voting rights and there has been growing
speculation that the group will be forced to sell off fringe
interests to protect its core activities.
|
training/3020
|
training/3020 |@title poehl:1 say:1 rate:1 cut:1 possible:1 source:1 |@word bundesbank:7 president:1 karl:1 otto:1 poehl:13 tell:2 closed:1 investment:1 symposium:4 west:2 germany:4 could:2 cut:6 leading:1 interest:4 rate:8 united:1 states:1 make:3 similar:1 move:3 banking:1 source:11 say:16 report:3 remark:4 duesseldorf:1 last:2 week:1 organise:1 deutsche:2 bank:7 ag:1 press:1 representative:1 invite:1 speak:1 separately:1 200:1 banker:3 reply:2 question:2 u:4 would:7 give:1 room:1 matching:1 measure:3 definite:1 hint:1 low:2 german:6 one:4 attend:2 spokesman:1 central:6 comment:4 private:1 meeting:4 accord:1 second:2 also:4 decline:1 identify:1 see:1 present:1 direct:2 pointer:1 defend:1 industry:1 additional:1 revaluation:1 mark:1 americans:1 drop:2 quite:1 clearly:1 half:2 point:2 discount:1 lombard:1 january:3 22:1 come:2 signal:1 prepare:1 discuss:1 level:3 dollar:4 condition:1 advance:1 ask:1 american:1 authority:1 persuade:1 bargaining:1 table:1 early:1 september:1 quote:2 check:1 paris:2 group:1 six:2 industrial:1 nation:1 take:1 place:1 exactly:1 month:1 emphasise:1 close:1 talk:1 g:1 6:1 financial:1 market:1 fully:1 realise:1 significance:1 session:1 agreement:1 stem:1 fall:2 value:1 first:1 time:1 participant:1 summit:1 agree:1 harmful:1 world:1 economy:1 include:1 tone:1 boost:1 grow:2 sentiment:1 stabilise:1 around:1 current:3 international:1 cooperation:1 underline:1 fact:1 prepared:1 accommodative:1 monetary:3 policy:1 order:1 prevent:1 slowdown:1 economic:1 growth:2 official:1 past:1 stress:1 responsibility:1 solely:1 concerned:1 combat:1 inflation:2 lead:1 instance:1 introduction:1 tight:1 stance:1 beginning:1 december:1 late:2 overshooting:1 target:2 directly:1 respark:1 oblige:1 react:1 immediately:1 whenever:1 overshoot:1 occur:1 datum:1 money:2 stock:2 main:1 supply:1 show:1 7:1 1:1 2:1 pct:2 outside:1 three:1 1987:1 share:1 price:2 rise:1 active:1 trading:1 today:1 dealer:1 couple:1 bullish:1 outlook:1 bring:1 strong:1 bargain:1 hunting:1
|
POEHL SAYS FURTHER RATE CUT POSSIBLE - SOURCES
Bundesbank president Karl Otto Poehl
told a closed investment symposium that West Germany could cut
leading interest rates again if the United States makes a
similar move, banking sources said.
The sources were reporting Poehl's remarks at a symposium
in Duesseldorf last week organised by Deutsche Bank Ag. Press
representatives were not invited.
The sources, speaking separately, said Poehl told about 200
bankers in reply to questions that a cut in U.S. Interest rates
would give room for a matching measure in Germany.
'It was a definite hint at lower German interest rates,' said
one banker who attended the symposium.
A Bundesbank spokesman said the central bank would have no
comment on the reported remarks, made at the private meeting.
But, according to a second source, who also declined to be
identified, Poehl's comments were seen by bankers present as a
direct pointer to further moves by the central bank to defend
German industry from an additional revaluation of the mark.
'He said if the Americans drop their interest rates then the
Bundesbank would also drop them. He said that quite clearly,'
the second source said.
In reply to questions, Poehl also said the half-point cut
in the discount and Lombard rates on January 22 came after the
U.S. Had signalled it would be prepared to attend a meeting to
discuss the level of the dollar on condition Germany made such
a move in advance, the sources said.
Asked if American authorities could have been persuaded, by
cuts in German rates, to come to the bargaining table as early
as last September, one of the sources quoted Poehl as saying,
'No, they wouldn't have been. We checked that.'
The Paris meeting of the Group of Six industrial nations
took place exactly one month after the German cut in rates.
Poehl emphasised in his comments the very close talks
between central banks before and after the G-6 meeting, saying
that financial markets had not fully realised the significance
of the Paris session and the U.S. Agreement to stem further
falls in the value of the dollar, the sources said.
For the first time all participants at the summit agreed
that a further fall in the dollar would be harmful for all
world economies, including the U.S., Poehl had said.
The sources said the tone of Poehl's comments boosted
growing sentiment that the dollar would be stabilised around
current levels by international central bank cooperation.
One source said Poehl's remarks also underlined the fact
that the Bundesbank was now more prepared to be accommodative
in monetary policy in order to prevent a further slowdown in
West Germany's economic growth.
Poehl and other Bundesbank officials have in the past
stressed that the German central bank had no direct
responsibility for growth and was solely concerned with
combatting inflation.
This led, for instance, to the introduction of a tighter
monetary stance from the beginning of December until the
half-point cut in rates in late January.
The sources quoted Poehl as saying that the current
overshooting of the German monetary target would not directly
respark inflation. The Bundesbank was not obliged to react
immediately whenever such overshooting occurs.
Latest data for central bank money stock, the Bundesbank's
main measure of money supply, showed the measure was growing at
7-1/2 pct in January, outside its three to six pct 1987 target.
Share prices rose in very active trading today, with
dealers reporting that Poehl's remarks, coupled with a bullish
outlook on stock prices from Deutsche at the same symposium,
brought in strong bargain hunting at current low levels.
|
training/3023
|
training/3023 |@title sosnoff:1 starts:1 bid:1 caesars:1 world:1 caw:1 mts:1 |@word acquisition:5 corp:2 company:5 form:1 martin:1 sosnoff:11 say:13 start:1 tender:1 offer:4 share:4 caesars:10 world:6 inc:4 28:1 dlrs:10 newspaper:1 advertisement:1 mts:5 withdrawal:1 right:1 expire:1 april:1 three:1 unless:1 extend:1 new:4 york:1 investor:1 already:3 four:1 mln:10 30:1 3:2 outstanding:1 13:1 pct:2 caesar:3 large:1 shareholder:4 casino:3 hotel:2 nevada:3 honeymoon:1 resort:1 pennsylvania:1 pocono:1 mountain:1 also:1 control:3 jersey:3 cjn:1 atlantic:1 city:1 n:1 j:1 second:1 quarter:1 end:1 january:1 31:1 earn:2 12:1 6:1 revenue:3 190:1 4:2 earning:1 7:1 500:1 000:1 163:1 8:1 year:1 fiscal:1 1986:3 41:1 0:1 694:1 condition:2 receipt:1 least:1 enough:1 give:4 majority:1 interest:3 fully:1 dilute:1 basis:1 arrangement:1 sufficient:1 financing:3 buy:1 pay:1 related:1 cost:1 approval:2 commission:2 gaming:2 state:2 board:3 marine:1 midland:1 banks:1 mm:1 commit:1 lend:1 100:1 use:2 good:1 effort:2 syndicate:1 another:1 400:1 senior:1 transaction:1 financial:2 adviser:2 painewebber:1 group:1 pwj:1 write:1 subject:1 market:1 highly:1 confident:1 arrange:1 commitment:1 475:1 mezzanine:1 expect:1 problem:1 obtain:1 regulatory:1 since:1 ownership:1 stake:1 clear:1 june:1 request:3 seat:2 yet:1 grant:1 september:1 chairman:2 atalanta:1 capital:1 file:1 clearance:1 u:1 antitrust:1 law:1 raise:1 25:1 letter:2 chief:1 executive:1 officer:1 henry:1 gluck:2 decision:1 go:1 directly:1 make:2 urging:1 may:1 legal:1 advisor:1 repeatedly:1 stress:1 lack:1 responsiveness:1 management:4 past:2 numerous:1 express:1 view:1 way:1 maximize:1 value:1 twicce:1 refuse:1 feel:1 advance:1 notice:1 would:1 time:1 throw:1 obstacle:1 rather:1 serious:1 consideration:2 hope:1 willing:1 negotiate:1 agreement:1 indicate:1 publicly:1 believe:1 operate:1 perform:1 well:1 appropriate:1 significant:1 equity:1 follow:1 ask:1 fix:1 march:1 27:1 record:1 date:1 determination:1 entitle:1 authorize:1 action:1 without:1 meeting:1 include:1 election:1 removal:1 director:1
|
SOSNOFF STARTS BID FOR CAESARS WORLD <CAW>
<MTS Acquisition Corp>, a company
formed by Martin T. Sosnoff, said it has started a tender offer
for all shares of Caesars World Inc at 28 dlrs each.
In a newspaper advertisement, MTS said the offer and
withdrawal rights expire April Three unless extended.
Sosnoff, a New York investor, already owns about four mln
of Caesars' 30.3 mln shares outstanding, or about 13.3 pct, and
is Caesars' largest shareholder. Caesars owns casino hotels in
Nevada and honeymoon resorts in Pennsylvania's Pocono
Mountains. It also controls Caesars New Jersey Inc <CJN>,
which owns an Atlantic City, N.J., casino hotel.
For the second quarter ended January 31, Caesars World
earned 12.6 mln dlrs on revenues of 190.4 mln dlrs, up from
earnings of 7,500,000 dlrs and revenues of 163.8 mln dlrs a
year before. For all of fiscal 1986, the company earned 41.0
mln dlrs on revenues of 694.4 mln dlrs.
MTS said the offer is conditioned on receipt of at least
enough shares to give Sosnoff a majority interest on a fully
diluted basis, the arrangement of sufficient financing to buy
all Caesars shares not already owned and pay related costs and
approval by the New Jersey Casino control Commission and the
NEvada Gaming Commission and State Gaming Control Board.
MTS said Marine Midland Banks Inc <MM> has committed to
lend it 100 mln dlrs for the acquisition and use its best
efforts to syndicate another 400 mln dlrs in senior financing
for the transaction.
It said its financial adviser, PaineWebber Group Inc <PWJ>,
has stated in writing that subject to market conditions, it is
highly confident that it can arrange commitments for up to 475
mln dlrs in 'mezzanine' financing.
MTS said it does not expect problems in obtaining New
Jersey and Nevada regulatory approval for the acquisition,
since ownership in a Caesars stake has already been cleared.
In June 1986, Sosnoff requested a seat on the Caesars World
board, a request that has not yet been granted. In September
1986, Sosnoff, who is chairman of <Atalanta/Sosnoff Capital
Corp>, filed for clearance under U.S. antitrust laws to raise
his interest in Caesars World to 25 pct.
Sosnoff said, in a letter to Caesars World chairman and
chief executive officer Henry Gluck, that 'The decision to go
directly to the shareholders was made at the urging of may
financial and legal advisors, who repeatedly stressed to me the
lack of responsiveness of the management in the past.'
Sosnoff, who said he has made numerous efforts to express
his views to management on ways of maximizing shareholder
values, said Caesars twicce refused his request for a board
seat. 'My advisers felt that, had I given you advance notice,
you would have used the time to throw up obstacles to my offer
rather than giving it serious consideration,' he said.
Sosnoff said he hopes that Caesars World management will be
willing to negotiate an acquisition agreement with him.
'As I have indicated publicly in the past, I believe
operating management of the company has performed well and that
appropriate consideration should be given to a significant
equity interest for them in the company following the
acquisition,' Sosnoff said in the letter to Gluck.
MTS said Sosnoff has asked the company to fix March 27 as
the record date for the determination of shareholders entitled
to authorize action without a meeting -- including the election
or removal of directors.
|
training/3024
|
training/3024 |@title dutch:1 planning:1 agency:1 forecast:1 low:1 growth:1 |@word dutch:8 economic:4 growth:9 slow:1 firm:1 guilder:4 cut:2 competitiveness:2 abroad:2 industry:2 reduce:2 pace:1 investment:2 official:1 planning:1 agency:1 cpb:14 say:14 centraal:1 planbureau:1 publish:1 1987:8 outlook:2 net:2 national:3 income:3 nni:1 expect:7 grow:2 one:1 pct:19 year:15 two:5 record:1 1986:3 2:5 5:7 1985:1 1984:1 gross:2 product:1 rise:5 432:1 20:1 billion:4 guilde:4 constant:2 price:4 increase:2 last:9 423:1 95:1 forecast:7 8:1 value:1 trade:2 weight:1 basis:1 compare:5 10:1 0:2 dollar:1 average:1 45:1 high:2 cause:1 substantial:1 fall:4 unit:1 labour:1 cost:3 measure:1 term:3 slightly:1 netherlands:1 depend:1 domestic:2 consumption:1 note:3 margin:1 set:4 producer:1 importer:1 mitigate:1 effect:1 purchase:1 power:1 low:1 import:2 deflation:1 consumer:1 1:5 inflation:1 zero:1 five:1 slowdown:1 11:1 exchange:1 rate:1 oil:1 fluctuation:1 continue:2 condition:1 economy:1 future:2 recent:2 depressing:1 impact:1 factor:1 addition:1 slight:1 taxation:1 social:2 security:2 employer:1 budget:1 deficit:2 7:1 6:1 3:1 urge:1 government:2 expenditure:1 bring:1 tax:1 payment:2 revenue:1 depress:1 natural:1 gas:1 sale:1 unemployment:1 675:1 000:2 710:1 gdp:2 within:1 late:2 issue:1 month:1 figure:2 well:1 market:2 estimate:3 merchant:1 bank:1 pierson:3 heldre:1 en:1 february:1 analyst:1 final:1 early:1 comment:1 see:2 whole:1 document:1 yet:1 would:3 seem:1 pessimistic:1 economist:1 export:2 volume:2 four:2 exclude:1 energy:1 4:1 balance:1 sharp:1 decline:1 surplus:1 six:1 12:1
|
DUTCH PLANNING AGENCY FORECASTS LOWER GROWTH
Dutch economic growth is slowing as a
firming guilder cuts competitiveness abroad and industries
reduce the pace of investment, the Dutch official planning
agency CPB said.
The Centraal Planbureau, publishing its 1987 economic
outlook, said Dutch Net National Income (NNI) was expected to
grow by one pct this year, down from two pct growth recorded in
1986 and 2.5 pct in 1985 and 1984.
Dutch Gross National Product is expected to rise to 432.20
billion guilders in 1987 in constant prices, a two pct increase
from last year's 423.95 billion.
The CPB, forecasting an 8.5 pct increase in the value of
the guilder on a trade-weighted basis compared with 10.0 pct
last year, said the dollar was expected to trade at an average
of 2.0 guilders in 1987 compared with 2.45 guilders in 1986.
'The higher guilder is causing a substantial fall in unit
labour costs abroad, when measured in guilder terms, while
these are rising slightly in the Netherlands,' the CPB said.
More of economic growth now depended on domestic
consumption, the CPB said, but noting that higher margins set
by domestic producers and importers mitigated the effect on
purchasing power of lower import costs and deflation.
Consumer prices were set to fall by 1.5 pct this year, the
CPB said. Inflation was zero last year.
Gross investment in industry was expected to grow by five
pct this year, a slowdown compared with 11.5 pct growth last
year, the CPB said.
Exchange rate and oil price fluctuations will continue to
condition the Dutch economy in the future as it has in recent
years, the CPB said, noting a continued depressing impact of
these factors on Dutch competitiveness.
In addition, it noted a slight rise in taxation and social
security costs to employers.
The CPB, forecasting a rise in the budget deficit to 7.2
pct of Net National Income in 1987 from 6.3 pct last year,
urged the government to cut expenditure further to bring down
the deficit and reduce tax and social security payments in
future.
Dutch government revenue is being depressed further by
falling income from natural gas sales in 1987, the CPB said.
It said unemployment was expected to fall to 675,000 this
year from 710,000 last year.
While the two pct GDP growth forecast set by the CPB is
within its latest forecast, issued last month, of 1.5 to two
pct growth, the figure is well above recent market estimates.
Dutch merchant bank Pierson, Heldring en Pierson said in
its February economic outlook that GDP growth at constant
prices was expected to be 1.1 pct this year and market analysts
had expected the CPB's final forecast to be below its own
latest estimate.
'It is too early to comment because I haven't seen the whole
document yet, but it would seem we are more pessimistic in some
of our estimates,' a Pierson economist said.
The CPB forecast 2.5 pct export growth in volume terms in
1987, after four pct growth last year. Excluding energy
exports, the 1987 figure would be two pct, it said.
Imports were set to rise by 4.5 pct this year compared with
four pct in 1986 in volume terms, the CPB said.
The balance of payments would see a sharp decline in the
surplus, to six billion guilders in 1987 compared with 12.1
billion last year, the CPB forecast.
|
training/3025
|
training/3025 |@title trump:1 make:1 bid:1 control:1 resort:1 rtb:1 |@word casino:1 owner:1 real:1 estate:2 developer:1 donald:1 trump:2 offer:1 acquire:1 class:6 b:4 common:2 share:5 resorts:2 international:1 inc:1 spokesman:1 say:1 late:1 chairman:1 james:1 crosby:1 340:1 783:1 752:1 297:1 resort:2 also:1 6:1 432:1 000:1 outstanding:1 100:1 time:1 voting:2 power:2 give:1 stock:1 93:1 pct:1
|
TRUMP MAKES BID FOR CONTROL OF RESORTS <RTB>
Casino owner and real estate developer
Donald Trump has offered to acquire all Class B common shares
of Resorts International Inc, a spokesman for Trump said.
The estate of late Resorts chairman James M. Crosby owns
340,783 of the 752,297 Class B shares.
Resorts also has about 6,432,000 Class A common shares
outstanding. Each Class B share has 100 times the voting power
of a Class A share, giving the Class B stock about 93 pct of
Resorts' voting power.
More
|
training/3026
|
training/3026 |@title iomega:1 iomg:1 set:1 management:1 labor:1 layoff:1 |@word iomega:4 corp:1 say:5 lay:1 quarter:1 professional:3 management:3 staff:1 nearly:1 half:1 direct:4 labor:5 force:3 part:1 restructuring:1 downsizing:1 business:2 company:5 also:2 receive:1 qualified:1 opinion:2 auditor:2 1986:1 financial:1 statement:1 subject:1 outcome:2 two:1 suit:2 defendant:2 consolidated:1 class:1 action:4 law:1 seek:1 damage:1 unspecified:1 amount:1 related:1 shareholder:1 state:2 letter:1 early:1 stage:1 discovery:1 likely:1 determine:1 time:1 corporate:1 wide:1 reduction:1 indirect:2 result:1 permanent:1 elimination:1 183:1 position:1 functional:1 area:1 represent:2 25:1 pct:2 employee:2 add:1 addition:1 announce:1 layoff:3 182:1 principally:1 manufacture:1 affect:3 46:1 comment:1 among:1 personnel:1 build:2 alpha:1 eight:1 inch:2 disk:1 drive:1 bernoulli:1 box:1 require:1 bring:1 finished:1 good:1 inventory:2 distribution:1 channel:1 acceptable:1 level:1 explain:1 production:1 new:1 5:1 1:1 4:1 beta:1 20:1 product:1 currently:1 backlog:1 order:1
|
IOMEGA <IOMG> SETS MANAGEMENT, LABOR LAYOFFS
Iomega Corp said it has laid off over
a quarter of its professional and management staff and nearly
half of its direct labor force as part of a restructuring and
downsizing of its business.
The company also said it will receive a qualified opinion
from the auditors of it 1986 financial statement subject to the
outcome of two suits. The company is a defendant in a
consolidated class action law suit which seeks damages in an
unspecified amount and is also a defendant in a related
shareholder action.
Iomega said the auditors state in their opinion letter that
both actions are in the early stages of discovery and the
likely outcome can not be determined at this time.
The company said a corporate wide reduction of its
professional, management and indirect labor will result in the
permanent elimination of 183 positions in all functional areas
of the company's business. This represents over 25 pct of
professional, management and indirect employees, it added.
In addition, Iomega announced layoff of about 182
employees, principally from its manufacturing direct labor
force. Those affected represent about 46 pct of direct labor.
Commenting on the layoffs, Iomega said those from among the
direct labor force affects personnel building the Alpha Eight
Inch Disk Drive and Bernoulli Boxes.
'This action is required as we bring our finished goods
inventory and inventory in our distribution channels down to
acceptable levels,' it explained.
The company stated this layoff does not affect the
production of its new 5-1/4 inch Beta 20 product which is
currently being built to a backlog of orders.
|
training/3028
|
training/3028 |@title brazil:1 seamen:1 continue:1 strike:1 despite:1 court:1 |@word hundred:1 marines:3 alert:1 11:1 key:1 brazilian:1 port:4 40:1 000:1 seaman:4 decide:2 remain:1 indefinite:1 strike:3 even:1 high:1 labour:1 court:1 saturday:1 rule:1 illegal:1 union:3 leader:3 say:6 halt:1 first:1 national:2 25:1 year:1 start:1 february:1 27:1 would:2 return:1 work:1 unless:1 get:1 275:1 pct:1 pay:1 rise:1 shipowner:1 offer:1 100:1 per:1 cent:1 raise:1 reject:1 nothing:1 lose:1 want:1 lay:1 worker:1 fine:1 determined:1 carry:1 protest:1 end:1 meeting:1 take:2 ship:2 abandon:1 vessel:1 let:1 handle:1 situation:1 spokesman:1 rio:1 de:1 janeiro:1 order:1 send:1 marine:1 give:1 navy:1 minister:1 henrique:1 saboya:1 ground:1 area:1 security:1 incident:1 cut:1 export:1 import:1 make:1 estimate:1 160:1 idle:1 petrol:1 station:1 owner:1 four:1 state:1 also:1 continue:1 shutdown:1 fear:1 combination:1 two:1 stoppage:1 could:1 lead:1 serious:1 fuel:1 shortage:1
|
BRAZIL SEAMEN CONTINUE STRIKE DESPITE COURT
Hundreds of marines were on alert
at 11 key Brazilian ports after 40,000 seamen decided to remain
on indefinite strike, even after the Higher Labour Court
Saturday ruled it illegal, union leaders said.
The halt, the first national strike by seamen in 25 years,
started on February 27, and union leaders said they would not
return to work unless they got a 275 pct pay rise. Shipowners
have offered a 100 per cent raise, which the seamen rejected.
'We have nothing to lose. If they want to lay off the
workers, fine, but we are determined to carry on with our
protest until the end,' a union leader said.
more
He said they had decided in a meeting that if the marines
take over the ships, the seamen would abandon the vessels and
let the marines handle the situation by themselves.
A spokesman for the Rio de Janeiro Port said the order to
send marines to take over the ports was given by Navy Minister
Henrique Saboya on grounds that ports are areas of national
security. But he said there were no incidents. The strike has
cut exports and imports and made an estimated 160 ships idle.
Petrol station owners in four states also continued their
shutdown and there were fears that the combination of the two
stoppages could lead to a serious fuel shortage.
|
training/303
|
training/303 |@title indonesian:1 soybean:1 import:1 forecast:1 rise:1 |@word soybean:5 import:3 forecast:4 rise:3 425:1 000:8 tonne:5 1987:5 88:5 october:1 september:1 estimate:1 300:1 1986:5 87:4 375:1 1985:3 86:3 u:2 embassy:1 say:6 annual:1 report:3 indonesia:2 agriculture:1 achieve:1 goal:1 self:1 sufficiency:1 output:1 calendar:1 meet:1 plan:1 increase:3 area:2 plant:3 yield:2 remain:1 target:1 meal:1 fall:2 around:1 190:1 270:1 295:1 domestic:2 production:1 steadily:1 1:1 08:1 mln:1 980:1 current:2 year:2 890:1 new:1 crush:1 due:1 come:1 stream:1 early:1 1988:1 china:1 main:1 supplier:1 79:1 pct:2 share:1 provide:1 rest:1 pattern:1 likely:1 continue:2 since:1 soyfood:1 processor:1 prefer:1 chinese:1 bean:1 willing:1 pay:1 premium:1 expect:1 10:1 hamper:1 insufficient:1 supply:1 quality:1 seed:1 along:1 pest:1 disease:1 problem:1
|
INDONESIAN SOYBEAN IMPORTS FORECAST TO RISE
Soybean imports are forecast to rise to
425,000 tonnes in 1987/88 (October/September) from an estimated
300,000 in 1986/87 and 375,000 in 1985/86, the U.S. Embassy
said in its annual report on Indonesia's agriculture.
It said Indonesia did not achieve its goal of
self-sufficiency in soybean output in calendar 1986 because it
did not meet a planned increase in area planted and because
yields have remained below target.
Soybean meal imports are forecast to fall to around 190,000
tonnes in 1987/88 from 270,000 tonnes in 1986/87 and 295,000
tonnes in 1985/86.
Domestic soybean production is forecast to rise steadily to
1.08 mln tonnes in 1987/88 from 980,000 in the current year and
890,000 in 1985/86, the report said.
Imports are forecast to fall in the current year but to
rise in 1987/88 because of a new soybean crushing plant due to
come on stream in early 1988.
China is the main supplier with a 79 pct share, while the
U.S. Provides the rest, it said.
'This pattern will likely continue during 1986/87 since
domestic soyfood processors prefer Chinese beans and are
willing to pay a premium for them,' it said.
Area planted is expected to increase by 10 pct in both
1986/87 and 1987/88.
'Yield increases continue to be hampered by an insufficient
supply of quality seeds, along with pest and disease problems,'
the report said.
|
training/3031
|
training/3031 |@title bonn:1 serious:1 currency:1 pact:1 say:1 tietmeyer:1 |@word west:3 germany:2 take:2 seriously:2 recent:1 undertaking:1 major:1 industrial:1 country:3 promote:1 exchange:3 rate:3 stability:2 around:2 current:3 level:3 finance:2 ministry:2 state:2 secretary:2 hans:1 tietmeyer:4 say:10 talk:1 journalist:1 meeting:2 european:1 community:1 economy:3 minister:2 decline:1 whether:1 february:1 22:1 paris:2 accord:1 group:1 five:1 plus:1 canada:1 include:1 secret:1 agreement:2 stabilise:1 currency:1 note:1 official:1 communique:1 participant:1 agree:1 cooperate:1 closely:1 foster:1 sentence:1 remark:1 dollar:1 hardly:1 move:1 mark:1 since:1 slowdown:1 german:2 economic:3 growth:3 cause:1 sharp:1 swing:1 help:1 respect:1 economics:1 otto:1 schlecht:3 bonn:2 government:1 see:1 need:1 measure:1 bolster:1 pay:1 close:1 attention:1 slow:2 rule:1 appropriate:1 timely:1 action:2 necessary:2 speak:1 ahead:1 discussion:1 ec:3 late:1 commission:2 report:1 situation:1 12:1 nation:1 bloc:1 sharply:1 revise:1 expect:2 gross:1 national:1 product:1 year:3 two:1 pct:2 3:1 2:1 predict:1 last:2 autumn:1 room:1 stimulate:1 activity:1 upturn:1 fourth:1 quarter:2 first:1 1987:1 cumulative:1 downwards:1 trend:1 view:1 would:2 make:1 quick:1 remedial:1 number:1 favourable:1 indicator:1 high:1 investment:1 good:1 climate:1 consumption:1 mean:1 recovery:1 could:1 export:1 pick:1 slightly:1 course:1
|
BONN SERIOUS ABOUT CURRENCY PACT, SAYS TIETMEYER
West Germany takes 'very seriously' the
recent undertaking by major industrial countries to promote
exchange rate stability around current levels, Finance Ministry
State Secretary Hans Tietmeyer said.
Talking to journalists before a meeting of European
Community Economy and Finance Ministers here, Tietmeyer
declined to say whether the February 22 Paris accord by the
Group of Five countries plus Canada included secret agreements
for stabilising currencies.
But he noted the official communique said the participants
agreed to cooperate closely to foster stability of exchange
rates around current levels. 'We're taking this sentence very
seriously,' he said.
Tietmeyer remarked that the dollar had hardly moved against
the mark since the meeting.
He said a slowdown in West German economic growth had been
caused by sharp exchange rate swings and that the Paris
agreement should help in this respect.
Economics Ministry State Secretary Otto Schlecht said the
Bonn government saw no current need for measures to bolster the
economy but was paying close attention to the slower growth and
had not ruled out 'appropriate and timely' action if necessary.
Schlecht and Tietmeyer were speaking ahead of a discussion
by the EC ministers of the latest EC Commission report on the
economic situation in the 12-nation bloc.
The Commission has sharply revised down expected German
gross national product growth this year to two pct from 3.2 pct
predicted last autumn and says Bonn has the most room of any EC
country to stimulate economic activity.
Schlecht said the upturn in West Germany's economy slowed
in the fourth quarter of last year and the first quarter of
1987. But he said there was no cumulative downwards trend in
view that would make quick remedial action necessary.
He said a number of favourable indicators such as high
level of investment and a good climate for consumption meant a
recovery could be expected, while exports would pick up
slightly during the course of the year.
|
training/3034
|
training/3034 |@title uganda:1 disappoint:1 coffee:1 talk:1 failure:1 |@word uganda:3 africa:1 second:1 large:1 coffee:11 producer:3 disappoint:1 stalemate:1 recent:1 talk:3 london:3 chairman:1 state:1 run:1 marketing:1 board:1 cmb:3 say:5 good:1 situation:1 price:1 drop:1 200:1 pound:1 per:1 tonne:1 robusta:1 j:1 makumbi:2 return:1 friday:1 consumer:1 fail:1 agree:1 quota:5 formula:1 share:1 world:2 production:2 international:1 organisation:1 ico:4 end:1 last:2 week:1 blame:1 failure:2 set:1 suspend:1 feburary:1 year:2 indonesian:1 demand:1 increase:1 dramatically:1 earn:1 400:1 mln:4 dlrs:1 annually:1 export:3 95:1 pct:3 foreign:1 exchange:1 earning:1 seek:1 raise:1 3:1 0:1 2:1 45:1 60:2 kilo:1 bag:2 accord:1 source:1 close:1 estimate:1 rise:1 20:1 25:1 current:1 1986:1 87:1 october:1 september:1 season:1 three:1 several:1 unable:1 meet:1 rebel:1 activity:1 disrupt:1 industry:2 ugandan:1 government:1 depend:1 duty:1 sale:1 tax:1 revenue:1 employ:1 half:1 salaried:1 manpower:1 dar:1 es:1 salaam:1 tanzania:1 agriculture:1 livestock:1 development:1 minister:1 paul:1 bomani:2 today:1 third:1 country:1 would:1 suffer:1 middleman:1 benefit:1 call:1 convene:1 another:1 meeting:1 within:1 two:1 month:1 temper:1 cool:1 delegation:1 time:1 report:1 back:1 headquarters:1 common:1 sense:1 prevail:1
|
UGANDA DISAPPOINTED BY COFFEE TALKS FAILURE
Uganda, Africa's second largest coffee
producer, was disappointed by the stalemate in recent coffee
talks in London, the chairman of the state-run Coffee Marketing
Board, CMB, said.
'This has not been good for coffee producers, more so in a
situation where the prices dropped by 200 pounds per tonne of
robusta coffee,' J. Makumbi said when he returned from London on
Friday.
Producers and consumers failed to agree on a quota formula
to share the world's coffee production during International
Coffee Organisation, ICO, talks that ended last week.
Makumbi blamed the failure to set quotas, which were
suspended in Feburary last year, on Indonesian demands that its
quota be increased dramatically.
Uganda -- which earns about 400 mln dlrs annually from
coffee exports, over 95 pct of its foreign exchange earnings --
had sought to raise its ICO quota to 3.0 mln from 2.45 mln
60-kilo bags, according to sources close to the CMB.
The CMB has estimated that production will rise 20 to 25
pct in the current 1986/87 October-September season to over
three mln bags.
For several years Uganda had been unable to meet its ICO
export quota as rebel activity disrupted the coffee industry.
The Ugandan government depends on coffee export duties for
about 60 pct of its sales tax revenue and the industry employs
over half of salaried manpower.
In Dar es Salaam, Tanzania's Agriculture and Livestock
Development Minister Paul Bomani said today Third World
countries would suffer from the failure of the London coffee
talks.
'It is only the middlemen who will benefit, he said.
Bomani called on the ICO to convene another meeting within
two months, saying, 'Once tempers have cooled and delegations
have had time to report back to their headquarters, common
sense will prevail.'
|
training/3035
|
training/3035 |@title |@word chrysler:2 take:2 renault:4 stake:2 american:2 motors:2 say:2
|
Chrysler to take over Renault stake in American Motors, says Renault
Chrysler to take over Renault stake in American Motors, says Renault
|
training/3036
|
training/3036 |@title additional:1 ccc:1 credit:1 guarantee:1 hungary:1 |@word commodity:1 credit:4 corporation:1 ccc:1 authorize:1 additional:2 8:1 0:4 mln:4 dlrs:3 guarantee:3 sale:3 vegetable:3 protein:3 meal:3 hungary:1 fiscal:2 year:2 1987:3 u:1 agriculture:1 department:2 say:2 increase:2 line:1 16:1 cumulative:1 program:1 agricultural:1 product:1 23:1 15:1 also:1 announce:1 extension:1 export:2 period:1 september:2 30:2 december:1 31:1 eligible:1 must:1 register:1 later:1
|
ADDITIONAL CCC CREDIT GUARANTEES FOR HUNGARY
The Commodity Credit Corporation,
CCC, has authorized an additional 8.0 mln dlrs in credit
guarantees for sales of vegetable protein meals to Hungary for
fiscal year 1987, the U.S. Agriculture Department said.
The additional guarantees increase the vegetable protein
meal credit line to 16.0 mln dlrs and increases the cumulative
fiscal year 1987 program for agricultural products to 23.0 mln
dlrs from 15.0 mln, it said.
The department also announced an extension of the export
period from September 30, 1987, to December 31 for sales of
vegetable protein meals.
To be eligible for the credit guarantees all sales must be
registered before export but not later than September 30.
|
training/3037
|
training/3037 |@title southern:2 co:2 take:2 226:2 mln:2 dlr:2 charge:2 project:2 vogtle:2 cost:2 rise:2 |@word
|
SOUTHERN CO TO TAKE 226 MLN DLR CHARGE ON PROJECTED VOGTLE COST RISE
SOUTHERN CO TO TAKE 226 MLN DLR CHARGE ON PROJECTED VOGTLE COST RISE
|
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