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training/535
|
training/535 |@title preferred:1 healthcare:1 ltd:1 phcc:1 4th:1 qtr:1 net:1 |@word shr:2 six:1 ct:4 vs:6 four:1 net:2 383:1 189:1 241:1 857:1 revs:2 1:2 506:1 756:1 793:1 459:1 12:1 mth:1 24:1 15:1 520:1 797:1 929:1 017:1 5:1 268:1 486:1 2:1 617:1 995:1
|
PREFERRED HEALTHCARE LTD <PHCC> 4TH QTR NET
Shr six cts vs four cts
Net 383,189 vs 241,857
Revs 1,506,756 vs 793,459
12 mths
Shr 24 cts vs 15 cts
Net 1,520,797 vs 929,017
Revs 5,268,486 vs 2,617,995
|
training/5350
|
training/5350 |@title derlan:1 acquire:1 80:1 pct:1 aurora:1 industry:1 |@word derlan:2 industries:2 ltd:1 say:2 acquire:1 80:1 pct:1 aurora:1 inc:1 montgomery:1 illinois:1 undisclosed:1 price:1 closing:1 subject:1 completion:1 legal:1 formality:1
|
DERLAN ACQUIRES 80 PCT OF AURORA INDUSTRIES
<Derlan Industries Ltd> said it
acquired 80 pct of Aurora Industries Inc of Montgomery,
Illinois for an undisclosed price.
Closing is subject to completion of legal formalities,
Derlan said.
|
training/5351
|
training/5351 |@title marion:1 lab:1 mkc:1 vote:1 split:1 dividend:1 hike:1 |@word marion:1 laboratories:1 inc:1 say:3 board:3 declare:2 two:1 one:1 common:1 stock:1 split:2 form:1 dividend:2 distribution:1 april:1 21:1 record:1 march:1 25:1 also:1 intend:1 increase:2 regular:2 quarterly:1 43:1 pct:1 five:1 ct:1 share:1 reflect:2 may:1 1987:2 meeting:1 payment:1 begin:1 july:1
|
MARION LABS <MKC> VOTES SPLIT, DIVIDEND HIKE
Marion Laboratories Inc said
its board declared a two-for-one common stock split in the form
of a dividend, with distribution April 21, record March 25.
The board also said it intends to increase the regular
quarterly dividend by 43 pct, to five cts a share, reflecting
the split. It said the increase will be declared at the May
1987 board meeting and reflected in regular payments beginning
in July 1987.
|
training/5352
|
training/5352 |@title dart:1 seek:1 supermarket:1 sgl:1 negotiation:1 |@word dart:8 group:1 inc:1 say:6 preparte:1 negotiate:2 term:2 propose:2 acquisition:3 supermarkets:1 general:9 corp:1 early:1 month:1 make:2 unsolicited:1 offer:4 41:1 75:1 dlrs:1 share:2 cash:1 supermarket:8 stock:2 release:1 letter:2 send:1 friday:1 believe:1 agreement:2 reach:1 good:1 interest:1 stockholder:1 management:1 employee:1 customer:1 end:1 prepared:1 urge:1 meeting:2 official:1 hold:1 promptly:1 point:1 company:2 hear:1 since:2 past:1 monday:1 inform:1 would:2 seriously:1 consider:1 get:1 back:1 timely:1 basis:1 arrange:1 act:1 openly:1 amicably:1 effort:1 facilitate:1 add:1 purchase:1 additional:1 prior:1 submission:1 continue:1 interested:1 acquire:1 friendly:1 manner:1 note:1 give:1 tune:1 suggest:1 order:1 allow:1 evaluate:1 available:1 option:1 1:1 9:1 mln:1 slightly:1 less:1 five:1 pct:1 outstanding:1
|
DART SEEKS SUPERMARKETS <SGL> NEGOTIATIONS
<Dart Group Inc> said it is
preparted to negotiate all terms of its proposed acquisition of
Supermarkets General Corp.
Early this month, Dart made an unsolicited offer of 41.75
dlrs a share in cash for Supermarkets General's stock.
Releasing a letter sent friday to Supermarkets General,
Dart said 'we believe that an agreement can be reached which
will be in the best interests of Supermarkets General, its
stockholders, management, employees and customers.
'To that end, we are prepared to negotiate all terms of an
acquisition agreement,' Dart said.
Dart said it urges a meeting with Supermarkets General
officials be held promptly.
The letter pointed out the company has not heard from
Supermarkets General since making the offer 'other than on this
past Monday when we were informed that our offer would be
seriously considered and that you would get back to us on a
timely basis to arrange a meeting.'
Dart said it has 'acted openly and amicably' in an effort
to facilitate its proposed acquisition, adding it has not
purchased additional Supermarkets General stock since prior to
submission of its offer.
Dart said it continues to be interested in acquiring
Supermarkets General in a friendly manner, noting it has given
the company 'the tune that you suggested in order to allow you
to evaluate the available options.'
Dart now owns 1.9 mln Supermarkets General shares, slightly
less than five pct of those outstanding.
|
training/5354
|
training/5354 |@title decorator:1 industries:1 inc:1 dii:1 4th:1 qtr:1 net:1 |@word ended:1 jan:1 three:1 shr:2 profit:4 five:1 ct:3 vs:6 na:1 net:2 58:1 088:1 loss:4 279:1 718:1 rev:1 6:1 310:1 841:1 5:1 468:1 893:1 year:1 12:1 74:1 126:1 321:1 773:1 090:1 revs:1 23:1 1:2 mln:2 19:1 note:1 per:1 share:1 give:1 quarter:1
|
DECORATOR INDUSTRIES INC <DII> 4TH QTR NET
Ended Jan three
Shr profit five cts vs NA
Net profit 58,088 vs loss 279,718
Revs 6,310,841 vs 5,468,893
Year
Shr profit 12 cts vs loss 74 cts
Net profit 126,321 vs loss 773,090
Revs 23.1 mln vs 19.1 mln
NOTE: Loss per share not given for quarter.
|
training/5355
|
training/5355 |@title mccormick:1 co:1 inc:1 mccrk:1 1st:1 qtr:1 net:1 |@word qtr:1 end:1 feb:1 28:1 shr:1 37:1 ct:2 vs:3 35:1 net:1 4:2 346:1 000:4 202:1 revs:1 232:1 006:1 223:1 151:1
|
MCCORMICK AND CO INC <MCCRK> 1ST QTR NET
Qtr ends Feb 28
Shr 37 cts vs 35 cts
Net 4,346,000 vs 4,202,000
Revs 232,006,000 vs 223,151,000
|
training/5356
|
training/5356 |@title value:1 line:1 inc:1 valu:1 3rd:1 qtr:1 jan:1 31:1 |@word shr:2 52:1 ct:3 vs:5 25:1 net:2 5:2 154:1 000:2 2:3 496:1 revs:2 17:1 7:1 mln:7 14:1 4:1 nine:1 month:1 1:1 16:1 dlrs:2 70:1 11:1 seven:1 50:1 3:1 41:1 note:1 1987:1 period:1 include:1 pretax:1 investment:2 income:1 9:1 capital:1 gain:1 distribution:1 mutual:1 fund:1
|
VALUE LINE INC <VALU> 3RD QTR JAN 31
Shr 52 cts vs 25 cts
Net 5,154,000 vs 2,496,000
Revs 17.7 mln vs 14.4 mln
Nine months
Shr 1.16 dlrs vs 70 cts
Net 11.5 mln seven mln
Revs 50.3 mln vs 41.2 mln
NOTE: 1987 periods include pretax investment income
of 2.9 mln dlrs in capital gains distributions from mutual fund
investment.
|
training/5357
|
training/5357 |@title thermo:1 electron:1 tmo:1 consider:1 unit:1 stake:1 sale:1 |@word thermo:1 electron:1 corp:1 say:2 enter:1 talk:1 underwriter:1 possible:1 public:1 sale:1 minority:1 interest:1 package:1 cogeneration:1 system:1 subsidiary:1 tecogen:1 inc:1 company:1 also:1 plan:1 offer:1 convertible:1 subordinated:1 debenture:1 publicly:1 give:1 detail:1
|
THERMO ELECTRON <TMO> CONSIDERS UNIT STAKE SALE
Thermo Electron Corp said it has
entered into talks with underwriters on the possible public
sale of a minority interest in its packaged cogeneration
systems subsidiary, Tecogen Inc.
The company also said it plans to offer convertible
subordinated debentures publicly.
It gave no further details.
|
training/5358
|
training/5358 |@title hongkong:1 bank:1 canada:1 1st:1 qtr:1 jan:1 31:1 net:1 |@word net:1 3:1 1:1 mln:1 vs:1 give:1 note:1 result:1 comparable:1 last:1 year:1 due:1 november:1 1986:1 acquisition:1 bank:1 british:1 columbia:1 subsidiary:1 hongkong:1 shanghai:1 banking:1 corp:1
|
HONGKONG BANK OF CANADA 1ST QTR JAN 31 NET
Net 3.1 mln vs not given
Note: results not comparable with last year due to November
1986 acquisition of Bank of British Columbia.
Subsidiary of <Hongkong and Shanghai Banking Corp>
|
training/5359
|
training/5359 |@title salant:1 corp:1 qslt:1 4th:1 qtr:1 nov:1 29:1 net:1 |@word oper:4 shr:2 profit:6 45:1 ct:3 vs:6 56:1 net:6 1:6 492:1 000:9 842:1 sale:3 36:1 5:3 mln:4 38:1 year:4 48:1 loss:4 2:2 44:1 dlrs:6 596:1 8:1 084:1 131:1 144:1 note:1 1986:3 include:2 pretax:2 provision:2 subsidiary:1 600:2 1985:1 6:1 plant:1 closing:1 exclude:2 tax:1 credit:1 295:1 quarter:1 712:1 period:1 charge:1 9:1 400:1 estimate:1 settlement:1 expense:1 connect:1 chapter:1 11:1 bankruptcy:1
|
SALANT CORP <QSLT> 4TH QTR NOV 29 NET
Oper shr profit 45 cts vs profit 56 cts
Oper net profit 1,492,000 vs profit
1,842,000
Sales 36.5 mln vs 38.5 mln
Year
Oper shr profit 48 cts vs loss 2.44 dlrs
Oper net profit 1,596,000 vs loss 8,084,000
Sales 131.1 mln vs 144.5 mln
NOTE: 1986 year net includes pretax provision for loss on
sale of subsidiary of 1,600,000 dlrs.
1985 year net includes pretax loss 6,600,000 dlrs from
plant closing provision.
1986 net excludes tax credits of 1,295,000 dlrs in quarter
and 2,712,000 dlrs in year.
1986 net both periods excludes charge 9,400,000 dlrs for
estimated settlement and expenses connected with Chapter 11
bankruptcy.
|
training/536
|
training/536 |@title tranzonic:1 cos:1 tnz:1 set:1 quarterly:1 |@word qtly:1 div:1 11:2 ct:2 vs:1 prior:1 pay:1 april:1 17:1 record:1 march:1 20:1
|
TRANZONIC COS <TNZ> SETS QUARTERLY
Qtly div 11 cts vs 11 cts prior
Pay April 17
Record March 20
|
training/5360
|
training/5360 |@title u:1 k:1 money:1 market:1 give:1 550:1 mln:1 stg:1 late:1 help:1 |@word bank:2 england:1 say:1 provide:1 money:1 market:1 late:1 assistance:1 around:2 550:1 mln:1 stg:2 take:1 total:1 help:1 today:1 1:2 12:1 billion:2 compare:1 estimate:1 deficit:1 10:1
|
U.K. MONEY MARKET GIVEN 550 MLN STG LATE HELP
The Bank of England said it provided the
money market with late assistance of around 550 mln stg.
This takes the Bank's total help today to some 1.12 billion
stg and compares with its estimated deficit of around 1.10
billion.
|
training/5362
|
training/5362 |@title 16:2 mar:2 1987:2 |@word
|
16-MAR-1987
16-MAR-1987
|
training/5363
|
training/5363 |@title lyng:1 say:1 late:1 crop:1 decouple:1 year:1 u:1 |@word agriculture:1 secretary:1 richard:1 lyng:4 say:1 late:3 implement:1 full:1 0:4 92:4 acreage:1 provision:1 decoupling:1 1987:3 grain:2 crop:4 think:1 chance:2 see:1 legislation:1 pass:2 tell:1 national:1 feed:1 association:1 convention:1 add:1 seem:1 support:1 congress:1 good:1 pilot:1 program:2 part:1 pende:1 disaster:1 bill:2 indicate:1 already:1 year:2 alter:1 sign:1 spring:1 close:1 end:1 month:1 overall:1 predict:1 little:1 change:1 legislate:1 1985:1 farm:1
|
LYNG SAYS TOO LATE FOR CROP DECOUPLING THIS YEAR
U.S. Agriculture Secretary Richard
Lyng said it is too late to implement a full 0/92 acreage
provision, or 'decoupling,' for 1987 grain crops.
'I think there's a chance we'll see that legislation (0/92)
passed, (but) not for 1987 crops. It's too late,' Lyng told the
National Grain and Feed Association convention here.
Lyng added that there seems some support in Congress for
0/92 and there was a good chance a pilot 0/92 program will be
passed as part of a pending disaster bill.
But he indicated that it is already too late in the year to
alter the 1987 crop program. Sign-up for spring crops closes
the end of this month.
Overall, Lyng predicted very little change will be
legislated in the 1985 farm bill this year.
|
training/5366
|
training/5366 |@title salant:1 qslt:1 file:1 reorganization:1 plan:1 |@word salant:3 corp:1 say:4 thomson:1 co:2 inc:2 obion:1 subsidiary:2 file:1 joint:1 reorganization:2 plan:5 u:1 bankruptcy:3 court:2 expect:1 emerge:1 chapter:3 11:3 near:1 future:1 company:2 hearing:1 adequacy:1 associate:1 disclosure:1 schedule:1 april:1 nine:1 completion:1 subject:1 approval:1 creditor:2 equity:2 security:2 holder:2 reach:1 agreement:1 ray:1 w:1 williams:1 continue:1 president:1 chief:1 executive:1 officer:1 five:1 year:3 effective:2 date:2 substantially:1 conclude:1 talk:1 new:1 15:1 mln:2 dlr:5 unsecured:3 credit:2 committee:2 creditgor:1 approve:1 term:1 previously:1 announce:1 receive:1 450:1 dlrs:4 cash:1 500:1 13:1 1:4 4:1 pct:1 senior:1 subordinated:1 debenture:1 four:1 common:1 share:1 000:7 dlrsd:1 allow:1 claim:2 today:1 report:1 earning:1 end:1 november:1 29:1 596:1 600:2 pretax:2 provision:2 loss:1 sale:1 9:1 400:1 post:1 tax:2 charge:1 attributable:1 cost:1 expense:1 settlement:1 pre:1 well:1 2:1 712:1 lose:1 8:1 084:1 6:1 plant:1 closing:1
|
SALANT <QSLT> FILES REORGANIZATION PLAN
Salant Corp said it and its Thomson Co
Inc and Obion Co Inc subsidiaries have filed a joint
reorganization plan with the U.S. Bankruptcy Court and expect
to emerge from Chapter 11 bankruptcy in the near future.
The company said a hearing on the adequacy of the
associated disclosure plan is scheduled for April Nine and
completion of the plan is subject to approval by creditors,
equity security holders and the bankruptcy court.
Salant said it has reached agreement for Ray W. williams to
continue as president and chief executive officer for five
years from the effective date of the reorganization plan and
has substantially concluded talks for a new 15 mln dlr
unsecured credit, effective the same date.
The company said the committee of its unsecured creditgors
and the committee of its equity security holders have approved
the terms of the plan. As previously announced, creditors will
receive 450 mln dlrs in cash, 500 dlrs of 13-1/4 pct senior
subordinated debentures and four common shares for each 1,000
dlrsd of allowed unsecured claims.
Salant today reported earnings for the year ended November
29 of 1,596,000 dlrs, after a 1,600,000 dlr pretax provision
for loss on the sale of a subsidiary but before a 9,400,000 dlr
post-tax charge attributable to costs and expenses of Chapter
11 and the settlement of pre-Chapter 11 claims, as well as a
2,712,000 dlr tax credit.
A year before, it lost 8,084,000 dlrs after a 6,600,000 dlr
pretax provision for plant closings.
|
training/5367
|
training/5367 |@title analogic:1 corp:1 alog:1 2nd:1 qtr:1 jan:1 31:1 net:1 |@word shr:2 11:2 ct:4 vs:6 13:1 net:2 1:1 965:1 577:1 2:2 474:1 357:1 revs:2 38:1 3:2 mln:5 34:1 7:1 1st:1 half:1 61:1 22:1 4:2 132:1 129:1 84:1 66:1
|
ANALOGIC CORP <ALOG> 2ND QTR JAN 31 NET
Shr 11 cts vs 13 cts
Net 1,965,577 vs 2,474,357
Revs 38.3 mln vs 34.7 mln
1st half
Shr 61 cts vs 22 cts
Net 11.3 mln vs 4,132,129
Revs 84.4 mln vs 66.2 mln
|
training/5371
|
training/5371 |@title west:1 german:1 export:1 u:1 drop:1 sharply:1 |@word west:5 german:5 export:8 united:1 states:1 fall:2 four:1 billion:10 mark:5 worth:1 january:6 first:1 time:1 since:3 mid:1 1984:3 provisional:1 bundesbank:1 datum:1 show:3 figure:2 3:2 85:1 sharply:1 december:3 4:2 40:1 low:2 56:1 u:2 july:2 compare:2 86:1 1986:1 total:2 western:1 industrialise:1 country:2 also:3 34:1 76:1 36:1 45:1 post:1 monthly:1 european:1 community:1 21:1 60:1 22:2 14:1 94:1 last:1 year:2 develop:2 nation:1 centrally:1 plan:1 economy:1 slacken:1 separately:1 commerzbank:1 ag:1 say:1 report:1 focus:1 likely:1 shift:1 europe:1 expect:1 downturn:1 growth:1 dollar:1 area:1 one:1 strength:1 japan:1 depend:1 large:1 part:1 opec:1 market:1 add:1
|
WEST GERMAN EXPORTS TO U.S. DROP SHARPLY
West German exports to the United
States fell below four billion marks worth in January for the
first time since mid-1984, provisional Bundesbank data showed.
The figures showed exports were 3.85 billion marks in
January, sharply down from December's 4.40 billion and the
lowest since the 3.56 billion exported to the U.S. In July
1984. This compared with 4.86 billion marks in January 1986.
Total West German exports to Western industrialised
countries also fell in January to 34.76 billion marks from
December's 36.45 billion, also posting the lowest monthly total
since July 1984.
West German exports to the European Community were 21.60
billion marks in January, down from 22.14 billion in December
and 22.94 billion in January last year, the figures showed.
Exports to developing nations and centrally-planned
economies also slackened.
Separately, Commerzbank AG said in a report that the focus
of West German exports this year was likely to shift to Europe
because of an expected downturn in growth in the dollar area.
This was one of the strengths of West German exports
compared with Japan, which depended in large part on the U.S.,
OPEC and developing country markets, it added.
|
training/5373
|
training/5373 |@title texas:2 air:4 give:2 former:2 continental:2 holder:2 another:2 3:2 75:2 dlrs:2 share:2 |@word
|
TEXAS AIR TO GIVE FORMER CONTINENTAL AIR HOLDERS ANOTHER 3.75 DLRS A SHARE
TEXAS AIR TO GIVE FORMER CONTINENTAL AIR HOLDERS ANOTHER 3.75 DLRS A SHARE
|
training/5375
|
training/5375 |@title |@word french:2 february:2 inflation:2 0:6 1:2 2:2 pct:4 vs:2 9:2 january:2 official:2
|
French February inflation between 0.1 and 0.2 pct vs 0.9 pct in january - official
French February inflation between 0.1 and 0.2 pct vs 0.9 pct in january - official
|
training/5376
|
training/5376 |@title trade:1 interest:1 ready:1 fight:1 u:2 congress:1 |@word lawmaker:4 gear:1 showdown:1 protectionist:2 free:4 trader:3 major:1 trade:27 bill:16 wind:1 way:2 committee:3 vote:1 full:2 house:8 representatives:1 late:1 april:1 move:1 toughen:2 u:5 enforcement:2 law:3 key:2 subcommittee:5 last:4 week:2 approve:1 tone:2 version:1 legislation:5 require:2 president:3 reagan:9 retaliate:1 foreign:3 country:4 follow:1 unfair:4 practice:4 cornerstone:1 congressional:1 effort:1 restore:2 competitiveness:1 american:1 industry:6 turn:1 around:1 year:5 record:1 169:1 billion:1 dlrs:1 deficit:1 several:1 argue:1 new:1 make:3 many:1 concession:2 say:7 intend:2 back:2 amendment:2 get:1 tough:2 violate:3 agreement:3 keep:1 product:2 hand:2 congressman:2 know:1 allegiance:1 tie:1 much:1 dispute:1 seek:1 negotiating:1 power:1 republican:2 frenzel:2 michigan:1 one:2 like:2 could:1 endorse:2 respect:1 emphasize:1 consensus:1 among:1 work:1 toward:1 republicans:1 would:8 ultimately:1 goal:1 policy:1 strong:1 without:1 international:2 find:2 lot:1 people:1 think:3 former:1 enough:1 poeple:1 avoid:1 urging:1 powerful:1 chairman:2 ways:2 means:2 requirement:1 force:4 automatically:2 impose:2 quota:1 tariff:2 import:7 engage:1 also:2 agree:3 may:1 waive:1 retaliation:2 hurt:1 economy:1 mean:1 dan:1 rostenkowski:2 illinois:2 democrat:4 insist:1 moderate:1 approach:1 necessary:1 want:1 pass:2 sign:3 block:1 senate:2 consideration:2 brand:1 reluctantly:1 support:2 see:1 democratic:1 leader:1 determine:1 indication:1 success:1 white:1 spokesman:1 marlin:1 fitzwater:1 tell:1 reporter:1 friday:1 administration:4 still:1 provision:2 add:1 generally:1 feel:1 good:1 bipartisan:1 progress:1 well:1 first:1 battle:1 take:1 place:1 next:1 consider:1 rep:3 richard:1 gephardt:3 missouri:1 japan:1 south:1 korea:1 taiwan:1 cut:1 surplus:2 united:3 states:3 limit:2 plan:3 provide:1 existence:2 large:1 trigger:2 investigation:1 set:2 phil:1 crane:1 staunch:1 try:3 weaken:1 organize:1 labor:1 press:1 relief:3 job:1 lose:1 competition:2 afl:1 cio:1 lane:2 kirkland:2 anger:1 statement:2 worth:1 passage:1 congress:1 debate:1 write:3 please:1 reject:1 call:2 specific:2 textile:2 ed:1 jenkin:1 georgia:1 hold:1 fight:1 push:1 separately:1 protect:1 domestic:3 shoe:1 aide:1 veto:1 similar:1 measure:1 speaker:1 jim:1 wright:2 texas:1 influential:1 proponent:1 aid:1 beset:1 low:1 price:2 thursday:1 renew:1 oil:2 announce:1 temporary:1 reach:1 half:1 consumption:1 part:1 act:2 rapidly:2 complaint:1 dump:1 cost:1 production:1 complain:1 surge:1 threaten:1 change:1 commission:1 car:1 1981:1
|
TRADE INTERESTS READY FOR FIGHT IN U.S. CONGRESS
U.S. lawmakers are gearing up for a
showdown between protectionists and free traders as a major
trade bill winds its way through committees to a vote by the
full House of Representatives in late April.
In a move to toughen U.S. enforcement of trade laws, a key
House subcommittee last week approved a toned down version of
legislation to require President Reagan to retaliate against
foreign countries that follow unfair trade practices.
This bill will be the cornerstone of congressional efforts
to restore competitiveness of American industries and turn
around last year's record 169 billion dlrs trade deficit.
Several lawmakers have argued the new trade bill made too
many concessions to Reagan and said they intend to back
amendments to 'get tough' with countries that violate trade
agreements or keep out U.S. products.
On the other hand, congressmen known for their allegiance
to free trade, said the bill ties Reagan's hands too much in
trade disputes and they will seek to restore his negotiating
powers.
Republican Bill Frenzel of Michigan said the subcommittee's
bill was not one 'that a free trader like me could endorse in
all respects,' but he emphasized there was a consensus among
trade lawmakers to work toward a bill Reagan and Republicans
would ultimately endorse.
Frenzel said the goal of trade legislation was, 'to make our
trade policy stronger without violating our international trade
agreements. You'll find a lot of people who think we have not
done the former enough. You'll find poeple who think we haven't
avoided violating agreements.'
In a key concession made at the urging of the powerful
chairman of the House Ways and Means Committee, the trade
subcommittee backed off a requirement that would have forced
Reagan to automatically impose quotas or tariffs on imports
from countries that engage in unfair trade practices.
It also agreed he may waive any retaliation if it would
hurt the U.S. economy.
Ways and Means chairman Dan Rostenkowski, an Illinois
Democrat, insisted the more moderate approach was necessary if
the House wanted to pass a bill Reagan would sign into law.
Reagan last year had blocked Senate consideration of a
tough House trade bill he branded as protectionist and this
year only reluctantly agreed to support a trade bill when he
saw Democratic leaders were determined to pass a bill.
As an indication of his success, White House spokesman
Marlin Fitzwater told reporters Friday the administration still
did not like some provisions. But he added, 'Generally we feel
very good about the bipartisan consideration of the trade
legislation. I think we are progressing very well.'
The first battle will take place next week when the full
House Ways and Means Committee considers an amendment by Rep.
Richard Gephardt, a Missouri Democrat, to force countries such
as Japan, South Korea and Taiwan to cut their trade surpluses
with the United States.
The subcommittee limited the Gephardt plan to provide only
that the existence of a large trade surplus with the United
States will trigger an investigation of unfair trade practices,
but would not automatically set off retaliation.
Rep. Phil Crane, an Illinois Republican and staunch free
trader, said he will try to further weaken the Gephardt plan.
Organized labor has pressed lawmakers for more relief from
imports where jobs have been lost to foreign competition.
AFL-CIO president Lane Kirkland this year angered the
administration in a statement that any trade bill Reagan would
sign would not be worth passage in Congress.
But Rostenkowski set the tone of the trade debate in a
statement, 'I'm not trying to write legislation to please Lane
Kirkland. I'm trying to write legislation that will be signed
by the president.'
In writing the bill, the subcommittee rejected calls for
trade relief for specific industries such as textiles.
Rep. Ed Jenkins, a Democrat from Georgia, agreed to hold
off his fight. He intends to push separately a bill to protect
the domestic textile and shoe industry, an aide said. Reagan
vetoed a similar measure last year.
House Speaker Jim Wright, a Texas Democrat, is one of the
most influential proponents of aid for specific industries
beset by low priced foreign competition.
Wright Thursday renewed his call for import relief for the
domestic oil industry and announced his support for a Senate
plan to trigger a temporary oil import tariff when imports
reach half of domestic consumption.
For the most part, the trade bill's provisions toughen U.S.
enforcement of trade laws. The bill forces the administration
to act rapidly on complaints of unfair trade practices such as
dumping products in the United States at prices below the cost
of production.
It also forces the administration to act rapidly when an
industry complains that a surge in imports threatens its
existence. Congressmen said the change would have required the
U.S. International Trade Commission to impose limits on car
imports in 1981.
|
training/5377
|
training/5377 |@title endotronics:1 endo:1 expect:1 loss:1 year:1 |@word endotronics:2 inc:2 say:10 expect:2 incur:1 substantial:1 loss:2 second:1 quarter:1 end:2 march:2 31:1 fiscal:4 year:2 sept:1 30:1 1987:3 one:2 factor:1 behind:1 anticipate:2 endotronic:4 cite:1 dispute:2 japanese:3 distributors:1 yamaha:2 payment:2 3:1 686:1 000:2 dlr:1 promissory:2 note:3 form:1 8:1 k:1 filing:1 securities:2 exchange:2 commission:2 overdue:1 account:1 receivable:1 sale:4 instrument:3 another:1 distributor:1 company:8 1986:2 present:1 reduce:1 level:1 operation:1 exhaust:1 currently:1 available:2 cash:1 credit:2 facility:1 early:1 may:1 assume:1 full:1 use:1 remain:1 1:1 250:1 dlrs:1 line:1 celanese:2 corp:2 require:1 approval:1 cz:1 ability:2 obtain:2 funding:2 adversely:1 affect:1 suit:2 file:1 4:1 two:1 shareholder:1 seek:1 represent:1 class:1 holder:1 three:1 officer:1 complaint:1 allege:1 violation:1 federal:1 security:2 law:2 connection:1 statement:1 make:1 annual:1 quarterly:1 report:1 also:1 division:1 minnesota:1 department:1 commerce:1 conduct:2 inquiry:2 trading:2 insider:2 broker:1 common:1 share:1 similar:1 investigation:2 hurt:1 result:1 challenge:1 financial:1 datum:1 various:1 concern:1 longer:1 decline:1 japan:1 offset:1 increase:1 foreign:1 country:1 united:1 states:1
|
ENDOTRONICS <ENDO> EXPECTS LOSS FOR YEAR
Endotronics Inc said it expects to
incur 'substantial losses' for the second quarter ending March
31 and fiscal year ending Sept 30, 1987.
As one factor behind the anticipated loss, Endotronics
cited a dispute by one of its Japanese distributors, <Yamaha
Inc>, over payment of a 3,686,000 dlr promissory note.
In a Form 8-K filing with the Securities and Exchange
Commission, Endotronics said the note was for overdue accounts
receivable from sales of instruments to Yamaha and another
Japanese distributor during the company's 1986 fiscal year.
Endotronics said at its present reduced level of operations
it will exhaust all currently available cash and credit
facilities in early May 1987. It said this assumes full use of
the remaining 1,250,000 dlrs available under a line of credit
from Celanese Corp, which requires approval of Celanese Corp
<CZ>.
The company said its ability to obtain funding was
adversely affected by a suit filed March 4 by two of its
shareholders seeking to represent a class of holders against
three officers of Endotronics.
Endotronics said the complaint against it alleges
violations of the federal securities laws in connection with
statements made in the company's annual and quarterly reports.
The company also said the Securities Division of the
Minnesota Department of Commerce is conducting an inquiry into
the company's Japanese sales for fiscal 1986 and trading by
insiders and brokers in the company's common shares.
It said similar inquiries are being conducted by the
Securities and Exchange Commission. The investigations will
hurt the company's ability to obtain funding, it said.
As a result of the dispute over payment of the promissory
note, the law suit challenging its financial data and the
various investigations concerning insider trading, the company
said it no longer expects that anticipated declines in
instrument sales in Japan in fiscal 1987 will be offset by
increased instrument sales in other foreign countries and the
United States.
|
training/5378
|
training/5378 |@title |@word french:2 february:2 year:4 inflation:2 3:2 4:2 pct:4 vs:2 three:2 january:2 official:2
|
French February year on year inflation 3.4 pct vs three pct January - official
French February year on year inflation 3.4 pct vs three pct January - official
|
training/5379
|
training/5379 |@title continental:1 air:1 holder:1 get:1 payment:1 |@word texas:5 air:5 corp:2 say:4 settlement:4 class:1 action:1 litigation:1 mutual:2 share:3 former:2 minority:2 shareholder:1 continental:4 airlines:1 inc:1 receive:2 additional:1 3:1 75:1 dlrs:2 per:2 february:1 acquire:1 interest:1 already:1 16:1 50:1 challenge:1 adequacy:1 price:1 holder:1 seek:2 appraisal:3 right:1 delaware:3 law:1 may:1 continue:1 remedy:1 chancery:2 court:2 accept:1 drop:1 process:1 term:1 relate:1 employee:1 shareholdrs:1 option:1 give:1 detail:1 company:1 subject:1 approval:1 expect:1 take:1 60:1 day:1
|
CONTINENTAL AIR HOLDERS TO GET FURTHER PAYMENT
Texas Air Corp said under a settlement
of class action litigation with <Mutual Shares Corp>, former
minority shareholders of Continental Airlines Inc will receive
an additional 3.75 dlrs per share.
In February, Texas Air acquired the minority interest in
Continental that it did not already own for 16.50 dlrs per
share. Mutual had challenged the adequacy of the price.
Texas Air said any former Continental holder who has sought
appraisal rights under Delaware law may continue to seek the
appraisal remedy in Delaware Chancery Court or accept the
settlement and drop the appraisal process.
Texas Air said the settlement has other terms relating to
employee shareholdrs of Continental, who will receive options
from Texas Air. It did not give details.
The company said the settlement is subject to approval by
the Delaware Chancery Court, which is expected to take about 60
days.
|
training/538
|
training/538 |@title cronus:1 industries:1 inc:1 crns:1 4th:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:8 40:1 ct:4 vs:8 10:1 net:2 2:3 136:1 000:9 467:1 revs:2 21:1 9:2 mln:5 12:2 mth:1 63:1 30:1 3:1 499:1 1:2 756:1 82:1 0:1 54:1 5:1 note:1 exclude:2 income:1 discontinue:1 operation:1 478:1 952:1 qtr:2 31:1 6:1 500:1 year:2 extraordinary:1 charge:1 503:1 current:1 4:1 744:1
|
CRONUS INDUSTRIES INC <CRNS> 4TH QTR LOSS
Oper Shr loss 40 cts vs loss 10 cts
Oper net loss 2,136,000 vs loss 467,000
Revs 21.9 mln vs 12.9 mln
12 mths
Oper shr loss 63 cts vs loss 30 cts
Oper net loss 3,499,000 vs loss 1,756,000
Revs 82.0 mln vs 54.5 mln
NOTE: Excludes income from discontinued operations of
1,478,000 vs 952,000 for qtr, and 31.2 mln vs 6,500,000 for
year.
Excludes extraordinary charge of 2,503,000 for current qtr,
and 4,744,000 for year.
|
training/5382
|
training/5382 |@title cocoa:1 consumer:1 narrow:1 gap:1 buffer:1 stock:1 issue:1 |@word representative:1 cocoa:10 consume:3 country:3 international:2 organization:1 icco:4 council:2 meeting:9 edge:1 closer:1 unified:1 stance:1 buffer:8 stock:8 rule:2 delegate:8 say:9 consumer:8 yet:1 common:1 position:2 observer:1 much:1 fluid:1 tone:1 positive:1 european:1 community:1 split:1 question:2 operate:2 meet:4 january:2 put:1 new:2 agreement:3 effect:1 france:1 side:1 producer:7 end:1 without:1 ec:3 commission:1 brussels:1 friday:2 see:2 whether:2 12:1 nation:1 could:1 narrow:1 difference:1 month:1 commissioner:1 come:1 away:1 informal:1 respond:1 sign:1 flexibility:1 among:1 key:2 issue:2 address:1 session:1 divide:1 member:7 non:4 eligible:1 purchase:1 price:1 differential:1 pay:1 different:1 type:1 able:1 compromise:1 work:2 group:2 comprise:2 produce:1 briefly:1 morning:1 break:1 follow:1 favour:1 buy:1 variety:1 grade:1 oppose:1 accept:1 review:1 ahead:1 afternoon:1 wait:1 hope:1 flexible:1 difficult:1 negotiate:1 33:1 include:1 u:1 malaysia:1 increasingly:1 important:1
|
COCOA CONSUMERS NARROW GAP ON BUFFER STOCK ISSUE
Representatives of cocoa consuming
countries at an International Cocoa Organization, ICCO, council
meeting here have edged closer to a unified stance on buffer
stock rules, delegates said.
While consumers do not yet have a common position, an
observer said after a consumer meeting, 'They are much more
fluid ... and the tone is positive.'
European Community consumers were split on the question of
how the cocoa buffer stock should be operated when the ICCO met
in January to put the new International Cocoa Agreement into
effect, delegates said.
At the January meeting, France sided with producers on how
the buffer stock should operate, delegates said. That meeting
ended without agreement on new buffer stock rules.
The EC Commission met in Brussels on Friday to see whether
the 12 EC cocoa consuming nations could narrow their
differences at this month's meeting.
The Commissioners came away from the Friday meeting with an
informal agreement to respond to signs of flexibility among
producers on the key buffer stock issues, delegates said.
The key issues to be addressed at this council session
which divide ICCO members are whether non-member cocoa should
be eligible for buffer stock purchases and what price
differentials the buffer stock should pay for different types
of cocoa, delegates said.
A consumer delegate said producers and consumers should be
able to compromise on the non-member cocoa question.
A working group comprising delegates from all producing and
consuming member countries met briefly this morning, then broke
up into a producer meeting and an EC meeting, followed by a
consumer meeting.
Producers, who are in favour of the buffer stock buying a
variety of grades of cocoa and oppose non-member cocoa being
accepted, reviewed their position ahead of the working group
meeting this afternoon.
'We are waiting to see what consumers say,' a producer
delegate said. 'We hope they will be flexible or it will be
difficult to negotiate.'
The ICCO comprises 33 member countries. Non-
members include the U.S., a consumer, and Malaysia, an
increasingly important producer.
|
training/5383
|
training/5383 |@title ccc:1 accept:1 wheat:1 bid:1 w:1 africa:1 country:1 |@word commodity:2 credit:1 corportion:1 ccc:2 accept:1 bid:1 export:2 bonus:2 cover:1 sale:1 15:3 000:1 tonne:3 u:2 wheat:3 west:2 african:2 country:2 agriculture:1 department:1 say:3 dark:1 northern:1 spring:1 shipment:1 may:1 june:1 1987:1 40:1 05:1 dlrs:1 per:1 make:1 peavey:1 company:1 pay:1 form:1 inventory:1 additional:1 315:1 500:1 still:1 available:1 enhancement:1 program:1 initiative:1 announce:1 october:1 30:1 1986:1
|
CCC ACCEPTS WHEAT BID FOR W AFRICA COUNTRIES
The Commodity Credit Corportion,
CCC, has accepted a bid for an export bonus to cover the sale
of 15,000 tonnes of U.S. wheat to West African countries, the
U.S. Agriculture Department said.
The dark northern spring wheat is for shipment May 15-June
15, 1987.
The bonus of 40.05 dlrs per tonne was made to Peavey
Company and will be paid in the form of commodities from the
CCC inventory, it said.
An additional 315,500 tonnes of wheat are still available
to West African countries under the Export Enhancement Program
initiative announced October 30, 1986, it said.
|
training/5385
|
training/5385 |@title lowrance:1 electronics:1 leix:1 see:1 order:1 |@word lowrance:1 electronics:1 inc:1 say:2 result:1 operation:1 third:1 fourth:1 quarter:3 may:1 comparable:1 first:2 second:1 strong:1 order:2 new:1 sonar:1 equipment:1 six:1 month:1 end:1 jan:1 31:1 company:2 report:1 net:1 income:1 almost:1 triple:1 951:1 000:1 dlrs:2 34:1 ct:1 share:1 sale:1 rise:1 38:1 pct:1 20:1 6:1 mln:1 go:1 public:1 dec:1 23:1 also:1 expect:1 able:1 fill:1 back:1 two:1 improve:1 supply:1 computer:1 chip:1 component:1
|
LOWRANCE ELECTRONICS <LEIX> SEES ORDERS OFF
Lowrance Electronics Inc said
results from operations in the third and fourth quarter may not
be comparable to the first and second quarters, which were
strong because of orders for new sonar equipment.
For the six months ended Jan 31, the company reported net
income almost tripled to 951,000 dlrs or 34 cts a share as
sales rose 38 pct to 20.6 mln dlrs.
The company, which went public Dec 23, also said it expects
to be able to fill back orders from the first two quarters
because of improved supply of computer chip components.
|
training/5388
|
training/5388 |@title canada:1 manufacture:1 utilization:1 rate:1 rise:1 |@word utilization:2 canadian:1 manufacturing:2 capacity:1 rise:2 77:2 2:1 pct:3 fourth:1 quarter:4 1986:1 third:2 statistics:1 canada:1 say:2 although:1 change:1 small:1 mark:1 first:1 since:1 1985:1 rate:1 whole:1 federal:1 agency:1 increase:3 residential:1 construction:1 lead:2 strong:1 building:1 material:1 sector:1 3:2 non:1 metallic:1 mineral:1 industry:1
|
CANADA MANUFACTURING UTILIZATION RATE RISES
Utilization of Canadian manufacturing
capacity rose to 77.2 pct in the fourth quarter of 1986 from 77
pct in the third quarter, Statistics Canada said.
'Although the change was small, this marked the first
quarter since the third quarter of 1985 in which the
utilization rates for manufacturing as a whole rose,' the
federal agency said.
Increased residential construction led to strong increases
in the building materials sector, led by a 3.3 pct increase in
non-metallic mineral industries.
|
training/5389
|
training/5389 |@title french:1 inflation:1 slow:1 february:1 |@word french:1 inflation:2 slow:1 february:3 0:3 1:2 2:3 pct:7 9:1 january:4 national:1 statistics:1 institute:1 insee:2 say:3 retail:1 price:2 index:1 show:1 year:4 rise:3 3:1 4:1 three:1 official:1 final:1 figure:1 would:1 release:1 later:1 month:1 government:1 force:1 revise:1 target:2 1987:1 5:1 initial:1 two:1 1986:1 finance:1 minister:1 edouard:1 balladur:1 half:1 due:1 high:1 oil:1 forecast:1 slowing:1
|
FRENCH INFLATION SLOWS IN FEBRUARY
French inflation slowed in February to
between 0.1 and 0.2 pct against 0.9 pct in January, the
National Statistics Institute (INSEE) said.
The retail price index showed a year-on-year rise of 3.4
pct against three pct in January. An INSEE official said the
final figure for February would be released later this month.
After January's rise the government was forced to revise
its inflation target for 1987 to 2.5 pct year on year from an
initial target of two pct, after 2.1 pct in 1986.
Finance Minister Edouard Balladur said half the January
rise was due to higher oil prices and forecast a February
slowing.
|
training/539
|
training/539 |@title mercury:1 entertainment:1 corp:1 mcry:1 year:1 nov:1 30:1 |@word shr:1 loss:4 four:1 ct:2 vs:3 one:1 net:1 413:1 021:1 163:1 932:1 revs:1 600:1 971:1 665:1 800:1
|
MERCURY ENTERTAINMENT CORP <MCRY> YEAR NOV 30
Shr loss four cts vs loss one ct
Net loss 413,021 vs loss 163,932
Revs 600,971 vs 665,800
|
training/5390
|
training/5390 |@title capitol:1 bancorp:1 capb:1 restate:1 net:1 loss:1 |@word capitol:4 bancorp:1 say:6 expect:2 restate:1 result:1 1986:2 loss:1 one:1 mln:1 dlrs:4 due:2 reclassification:1 loan:1 recommend:1 auditor:1 ernst:1 whinney:1 company:2 restatement:2 also:2 reflect:1 substantial:1 increase:1 reserve:1 principal:1 subsidiary:1 bank:1 trust:1 co:1 earn:2 2:2 250:1 000:4 750:1 first:2 quarter:2 1987:1 maintain:1 adequate:1 capital:2 ratio:1 seek:1 additional:1 equity:1 near:1 future:1 delay:1 annual:3 meeting:2 may:1 earning:2 board:1 raise:1 quarterly:1 dividend:1 23:1 ct:2 22:1 share:1 payable:1 april:2 28:1 record:1 march:1 31:1 originally:1 report:1 7:1 700:1 3:1 848:1 last:1 year:1 schedule:1 second:1 week:1
|
CAPITOL BANCORP <CAPB> TO RESTATE NET TO LOSS
Capitol Bancorp said it expects to
restate its results for 1986 to a loss of about one mln dlrs
due to a reclassification of loans recommended by auditor Ernst
and Whinney.
The company said the restatement also reflects a
substantial increase in reserves of its principal subsidiary,
Capitol Bank and Trust Co.
It said it expects to earn 2,250,000 to 2,750,000 dlrs for
the first quarter of 1987.
Capitol said to maintain an adequate capital ratio it will
seek additional equity capital in the near future.
It also said it has delayed its annual meeting until May
due to the restatement of annual earnings.
Capitol said its board raised the quarterly dividend to 23
cts from 22 cts a share, payable April 28, record MArch 31.
The company originally reported 1986 earnings of 7,700,000
dlrs. It earned 3,848,000 dlrs in last year's first quarter.
The annual meeting had been scheduled for the second week
of April.
|
training/5391
|
training/5391 |@title u:1 soy:1 producer:1 think:1 ec:1 oil:1 tax:1 unlikely:1 |@word american:2 soybean:5 producer:4 confident:1 propose:4 european:1 community:1 ec:8 tax:6 vegetable:1 oil:3 fat:2 reject:1 leave:1 nothing:1 chance:2 association:1 asa:2 president:1 elect:1 wayne:1 bennett:5 say:8 lead:1 one:2 three:1 delegation:1 lobbying:1 tour:1 capital:1 speak:1 lunch:1 meeting:1 economic:1 foreign:1 ministry:1 morning:1 dutch:1 government:3 indicate:2 would:4 vote:2 proposal:4 number:2 country:1 information:1 suggest:1 require:1 brussels:2 prevent:1 go:1 forward:1 talk:1 past:1 20:1 year:3 drop:1 every:1 time:2 want:1 kill:1 add:3 back:1 active:1 lobby:1 u:6 also:2 prepared:1 retaliate:1 penal:1 import:1 taxis:1 get:1 feel:1 good:1 case:1 fight:1 general:1 agreement:1 tariffs:1 trade:2 gatt:1 embassy:1 spokesman:1 export:1 product:1 account:1 fifth:1 annual:1 production:1 worth:1 2:1 5:1 billion:1 dlrs:1 hit:1 badly:1 virtually:1 double:1 price:2 soyoil:1 suffer:2 far:1 bad:1 high:1 nature:1 revenue:1 simply:1 use:1 finance:1 oilseed:1 subsidy:1 machine:1 dedicate:1 free:1 trader:1 help:1 defeat:1 wine:1 equity:1 act:1 two:1 ago:1 stand:1 watch:1 farmer:1 protectionist:2 measure:1 mood:1 turn:1 increasingly:1 action:1 fuel:1 war:1
|
U.S. SOY PRODUCERS THINK EC OILS TAX UNLIKELY
American soybean producers are
confident the proposed European Community (EC) tax on vegetable
oils and fats will be rejected but are leaving nothing to
chance, American Soybean Association (ASA) president-elect
Wayne Bennett said.
Bennett, who is leading one of three soybean producer
delegations on a lobbying tour of EC capitals, was speaking at
a lunch.
After meetings at the Economics and Foreign ministries this
morning, he said the Dutch Government had indicated it would
vote against the proposal, as had a number of other countries.
'Our information suggests we will have the required number
of votes in Brussels to prevent the tax proposal going forward,'
he said.
'The proposal has been talked of in Brussels for the past 20
years, and dropped every time. What we want now is to kill it
once and for all,' Bennett added.
Backing up the soybean producers' active lobbying, the U.S.
Government has also indicated it will be prepared to retaliate
with penal import taxes if the proposal does get through, he
said.
The U.S. Government also feels it has a good case to fight
the proposed tax in the General Agreement on Tariffs and Trade
(GATT), a U.S. Embassy spokesman said.
U.S. Exports of soybeans and products to the EC account for
one-fifth of annual production, and are worth about 2.5 billion
dlrs a year, Bennett said.
The proposed tax on oils and fats would hit U.S. Producers
badly while at the same time virtually doubling the price of
soyoil in the EC, which would suffer far worse than other
higher-priced oils because of the nature of the proposed tax,
he added.
The revenue to the EC from the tax would simply be used to
finance the EC's own oilseed subsidy machine, he said.
'We in the ASA are dedicated free-traders. We helped defeat
the Wine Equity Act two years ago, but we will not stand by and
watch our own farmers suffer from such protectionist EC
measures,' Bennett said.
'The mood in the U.S. Is turning increasingly protectionist,
and the EC's actions are fueling the chances of a trade war,'
he added.
|
training/5392
|
training/5392 |@title swedish:1 unemployment:1 datum:1 revise:1 |@word new:5 method:4 calculate:1 sweden:2 unemployment:3 figure:3 reduce:1 number:2 jobless:3 sixth:1 spokesman:1 central:1 bureau:1 statistics:1 scb:3 say:5 report:1 substantial:1 drop:2 past:1 year:1 accord:2 revise:1 datum:2 94:1 000:2 february:3 represent:1 2:7 pct:6 workforce:3 120:1 8:1 1986:2 official:1 olle:1 wessberg:3 base:2 extensive:1 survey:1 unemployed:2 bring:1 line:1 practise:1 recommend:1 geneva:1 international:1 labour:1 organisation:1 cut:1 16:1 way:1 collect:1 far:1 accurate:1 ask:1 many:1 question:1 find:1 whether:3 want:1 work:3 able:1 actually:1 look:1 tell:1 reuters:1 first:1 use:1 january:1 show:1 1:1 7:1 old:1 style:1 december:1 change:1 apparently:1 notice:1 press:1 recalculate:1 would:1 stand:1
|
SWEDISH UNEMPLOYMENT DOWN AS DATA IS REVISED
A new method of calculating Sweden's
unemployment figures reduced the number of jobless by a sixth,
a spokesman for the Central Bureau of Statistics (SCB) said,
reporting a substantial drop in the past year.
According to the revised data there were 94,000 jobless in
February representing 2.2 pct of the workforce against 120,000
or 2.8 pct of the workforce in February 1986.
SCB official Olle Wessberg said the new figures were based
on a more extensive survey of the unemployed which brought
Sweden into line with the practises recommended by the
Geneva-based International Labour Organisation.
Wessberg said the new method cut the number of unemployed
by about 16 pct. 'The way we are now collecting data is far more
accurate and we are asking many more questions to find out
whether the jobless want work, whether they are able to work
and whether they have actually looked for work,' he told
Reuters.
The new method was first used for the January figures,
which showed unemployment dropping to 2.1 pct of the workforce
from 2.7 pct (old style) in December, but Wessberg said the
change had apparently not been noticed by the press.
Recalculated according to the new method, unemployment in
February 1986 would have stood at 2.2 pct, the SCB said.
|
training/5394
|
training/5394 |@title economic:1 spotlight:1 ems:1 mark:1 eighth:1 birthday:1 |@word european:5 monetary:4 system:9 mark:2 eighth:1 anniversary:1 still:2 vulnerable:1 turmoil:1 world:3 money:1 market:1 despite:1 create:1 island:1 currency:8 rate:2 stability:1 europe:2 economist:7 say:8 many:1 hold:2 eight:1 community:1 within:1 narrow:1 fluctuation:1 band:1 remain:1 infancy:1 new:1 unit:1 ecu:3 runaway:1 success:2 investor:2 borrower:1 alike:1 seek:1 alternative:1 volatile:1 dollar:5 wednesday:1 long:1 term:1 vision:1 common:2 take:3 step:2 nearer:1 become:1 reality:1 belgium:2 mint:1 first:1 coin:1 member:2 west:3 germany:1 far:1 block:1 second:1 stage:1 development:2 envisage:1 found:1 father:1 ex:1 german:2 chancellor:1 helmut:1 schmidt:1 former:1 french:1 president:1 valery:1 giscard:1 estaing:1 phase:1 originally:1 due:3 start:1 two:1 year:1 ems:5 set:2 decision:2 making:1 transfer:1 national:1 government:3 central:2 bank:2 autonomous:1 fund:1 jealously:1 guard:1 sovereignty:1 economic:2 matter:1 basic:1 problem:1 prepared:1 make:1 quantum:1 leap:1 situation:1 certain:1 one:1 closely:1 watch:1 result:2 ec:2 often:1 divide:1 policy:1 third:1 accentuate:1 great:1 weakness:2 vulnerability:1 weak:1 past:1 18:1 month:3 u:1 plunge:1 move:1 strong:1 sharp:1 rise:1 severely:1 strain:1 another:1 frustration:1 britain:1 failure:1 lend:1 political:1 support:1 keep:1 pound:1 major:2 outside:1 change:2 british:1 attitude:1 expect:1 country:1 next:2 general:1 election:1 mid:1 1988:1 meanwhile:1 last:2 realignment:1 11th:1 since:1 prompt:1 finance:2 minister:2 ask:1 highly:1 secretive:1 committee:2 governor:1 come:1 suggestion:1 reinforce:1 idea:1 unveil:1 informal:1 meeting:1 early:1 proposal:1 unlikely:1 involve:1 tinker:1 technical:2 detail:1 sceptical:1 chance:1 fundamental:1 measure:1 win:1 enough:1 protect:1 external:1 factor:1 must:1 forward:1 institutional:1 level:1 leo:1 de:1 corel:1 kredietbank:1 research:1 department:1 fortune:1 depend:1 largely:1 agreement:1 among:1 industrial:1 nation:1 stabilise:1 exchange:1 resume:1 slide:1 could:1 turbulence:1 predict:1
|
ECONOMIC SPOTLIGHT - EMS MARKS EIGHTH BIRTHDAY
The European Monetary System marks its
eighth anniversary still vulnerable to turmoil in world money
markets despite creating an island of currency rate stability
in Europe, economists say. But many economists say the system,
which holds eight European Community currencies within narrow
fluctuation bands, remains in its infancy.
Its new currency, the European Currency Unit (Ecu), has
been a runaway success with investors and borrowers alike
seeking an alternative to the volatile dollar.
And on Wednesday, the long term vision of the Ecu as
Europe's common currency took a step nearer to becoming reality
when Belgium minted the world's first Ecu coin.
But economists say members such as West Germany have so far
blocked a second stage of development envisaged by the system's
founding fathers, ex-West German Chancellor Helmut Schmidt and
former French President Valery Giscard d'Estaing.
Under this phase, originally due to have started two years
after the EMS was set up, decision-making was to have been
transferred from national governments and central banks to an
autonomous European Monetary Fund.
But members have jealously guarded their sovereignty in
economic and monetary matters. 'The basic problem of the EMS is
that governments are not prepared to make the quantum leap to a
situation where certain decisions are taken in common,' said one
economist who has closely watched the system's development.
The result is that the EC is often divided over policy on
third currencies, accentuating what the economists say is the
system's greatest weakness, its vulnerability to a weak dollar.
Over the past 18 months, as the U.S. Dollar plunged and
investors moved into strong currencies, the resulting sharp
rise of the West German mark severely strained the system.
Another frustration has been Britain's failure to lend the
EMS political support by keeping the pound, still a major world
currency, outside the system.
No change in the British government's attitude is expected
before the country's next general elections, due by mid-1988.
Meanwhile, the system's last realignment, the 11th since it
was set up, prompted European finance ministers to ask the EC's
highly-secretive Monetary Committee and Committee of Central
Bank Governors to come up with suggestions for reinforcing it.
Their ideas are due to be unveiled when finance ministers
hold an informal meeting in Belgium early next month.
But economists said the proposals are unlikely to involve
more than tinkering with technical details. They are sceptical
about the chances for any fundamental change.
'Technical measures won't be enough to protect the EMS
against external factors such as dollar weakness. For that we
must take the step forward to the institutional level,' said Leo
de Corel of Kredietbank's economic research department.
Economists say the system's fortunes now will depend
largely on the success of an agreement last month among major
industrial nations to stabilise exchange rates. If the dollar
resumes its slide the EMS could be in for more turbulence, they
predict.
|
training/5396
|
training/5396 |@title intermagnetics:1 general:1 inma:1 complete:1 buy:1 |@word intermagnetics:1 general:1 corp:1 say:2 complete:1 purchase:1 advanced:1 product:3 department:2 air:1 chemicals:1 inc:2 apd:2 term:1 disclose:1 make:1 cryogenic:1 equipment:1 continue:1 operate:1 present:1 location:1 allentown:1 pa:1 company:1 market:1 cryogenics:1
|
INTERMAGNETICS GENERAL <INMA> COMPLETES BUY
Intermagnetics General Corp
said it completed the purchase of the advanced products
department of Air Products and Chemicals Inc <APD>.
Terms were not disclosed.
The department, which makes cryogenic equipment, will
continue operating at its present location in Allentown, Pa.,
the company said. It will market its products as APD Cryogenics
Inc.
|
training/5398
|
training/5398 |@title italy:1 ferruzzi:1 take:1 spanish:1 mill:1 |@word italy:1 ferruzzi:3 spa:1 take:2 67:1 pct:2 stake:2 spanish:2 sunflow:2 seed:2 cotton:2 mill:1 cooperativa:1 agricola:1 del:1 guadalete:1 sa:2 guadalco:4 source:1 say:1 italian:1 firm:1 subsidiary:1 espana:1 majority:1 equity:1 remain:1 33:1 retain:1 plan:1 set:1 sugar:2 division:1 import:1 30:1 000:2 tonne:3 industrial:1 french:1 factory:1 first:1 year:1 operation:1 processing:1 capacity:1 250:1 day:2 12:1 raw:1
|
ITALY'S FERRUZZI TAKES OVER SPANISH MILL
Italy's Ferruzzi SpA has taken a 67 pct
stake in Spanish sunflower seed and cotton mill Cooperativa
Agricola del Guadalete SA (GUADALCO), sources at GUADALCO said.
The Italian firm's Spanish subsidiary, Ferruzzi Espana SA,
took the majority equity stake, with the remaining 33 pct
retained by GUADALCO.
Ferruzzi plans to set up a sugar division and import some
30,000 tonnes of industrial sugar from its French factories in
its first year of operation.
GUADALCO has a processing capacity of 250 tonnes a day of
sunflower seeds and 12,000 tonnes a day of raw cotton.
|
training/5400
|
training/5400 |@title ccc:1 accept:1 bid:1 dairy:1 cattle:1 kuwait:1 |@word commodity:2 credit:1 corporation:1 ccc:2 accept:1 bid:1 export:2 bonus:2 cover:1 sale:1 380:1 head:3 dairy:3 cattle:3 kuwait:2 u:1 agriculture:1 department:1 say:4 shipment:1 may:1 31:1 1987:1 1:1 465:1 00:1 dlrs:1 per:1 make:1 american:1 marketing:1 services:1 inc:1 pay:1 form:1 inventory:1 additional:1 761:1 still:1 available:1 gulf:1 country:1 bahrain:1 oman:1 qatar:1 united:1 arab:1 emirates:1 enhancement:1 program:1 initiative:1 announce:1 october:1 30:1 1986:1
|
CCC ACCEPTS BID FOR DAIRY CATTLE TO KUWAIT
The Commodity Credit Corporation
(CCC) has accepted a bid for an export bonus to cover the sale
of 380 head of dairy cattle to Kuwait, the U.S. Agriculture
Department said.
The dairy cattle are for shipment on or before May 31,
1987, it said.
The bonus of 1,465.00 dlrs per head was made to American
Marketing Services, Inc, and will be paid in the form of
commodities from the CCC inventory, it said.
An additional 761 head of dairy cattle are still available
to Gulf countries (kuwait, Bahrain, Oman, Qatar and the United
Arab Emirates under the Export Enhancement Program initiative
announced October 30, 1986, it said.
|
training/5402
|
training/5402 |@title american:1 hoechst:1 corp:1 year:1 net:1 |@word net:1 38:1 mln:2 vs:2 5:1 7:1 revs:1 1:2 71:1 billion:2 69:1 note:1 fully:1 subsidiary:1 hoechst:1 ag:1
|
<AMERICAN HOECHST CORP> YEAR NET
Net 38 mln vs 5.7 mln
Revs 1.71 billion vs 1.69 billion
NOTE: Fully owned subsidiary of Hoechst AG.
|
training/5404
|
training/5404 |@title fed:1 expect:1 set:1 customer:1 repurchase:1 |@word federal:2 reserve:3 expect:1 intervene:1 government:1 security:1 market:1 add:1 via:1 two:1 2:1 5:1 billion:1 dlrs:1 customer:1 repurchase:1 agreement:1 economist:2 say:2 fed:2 inject:1 temporary:1 indirectly:1 offset:1 pressure:1 fund:3 rate:1 associate:1 quarterly:1 corporate:1 tax:1 payment:1 treasury:1 department:1 open:1 6:2 1:1 4:1 pct:2 remain:1 level:1 late:1 morning:1 friday:1 average:1 05:1
|
FED EXPECTED TO SET CUSTOMER REPURCHASES
The Federal Reserve is expected to
intervene in the government securities market to add reserves
via two to 2.5 billion dlrs of customer repurchase agreements,
economists said.
Economists said the Fed will inject temporary reserves
indirectly to offset pressure on the Federal funds rate
associated with quarterly corporate tax payments to the
Treasury department.
Fed funds opened at 6-1/4 pct and remained at that level
late this morning. Friday funds averaged 6.05 pct.
|
training/5407
|
training/5407 |@title levitt:1 corp:1 lvt:1 4th:1 qtr:1 net:1 |@word oper:4 shr:2 42:1 ct:5 vs:6 11:2 net:2 1:3 433:1 000:5 382:1 revs:1 38:1 6:1 mln:4 20:1 year:2 60:1 49:1 2:1 033:1 682:1 rev:1 90:1 4:1 73:1 0:1 note:1 1985:1 4th:1 qtr:1 exclude:1 extraordinary:1 credit:1 349:1 dlrs:1 per:1 share:1
|
LEVITT CORP <LVT> 4TH QTR NET
Oper shr 42 cts vs 11 cts
Oper net 1,433,000 vs 382,000
Revs 38.6 mln vs 20.1 mln
Year
Oper shr 60 cts vs 49 cts
Oper net 2,033,000 vs 1,682,000
Revs 90.4 mln vs 73.0 mln
NOTE: 1985 4th qtr and year excludes extraordinary credit
of 349,000 dlrs or 11 cts per share.
|
training/5408
|
training/5408 |@title eep:1 use:1 tactically:1 yeutter:1 say:1 u:1 |@word trade:1 representative:1 clayton:1 yeutter:3 say:2 export:1 enhancement:1 program:1 eep:4 use:3 tactical:2 tool:2 general:2 policy:2 make:2 comment:2 response:1 question:2 whether:1 u:1 expand:1 cover:1 grain:2 sale:1 soviet:2 union:1 directly:1 reply:1 decision:1 would:1 high:1 level:1 reagan:1 administration:1 want:1 preempt:1 tell:1 national:1 feed:1 association:1 continue:1 european:1 community:1 selective:1 successful:1 pressure:1 e:1 c:1
|
EEP SHOULD BE USED TACTICALLY, YEUTTER SAYS
U.S. Trade Representative Clayton
Yeutter said the Export Enhancement Program, EEP, should be
used as a 'tactical tool' and not as a general policy.
Yeutter made the comment in response to a question whether
the U.S. should expand the EEP to cover grain sales to the
Soviet Union.
He did not comment directly on the Soviet question,
replying that any decision would be made at the highest levels
of the Reagan administration, and 'I don't want to preempt that.'
Yeutter told the National Grain and Feed Association EEP
should continue to be used as a tactical tool against the
European Community but not as a general policy. He said
selective EEP use has been successful in pressuring the E.C.
|
training/5409
|
training/5409 |@title national:1 pizza:1 piza:1 correct:1 figure:1 |@word national:1 pizza:2 co:1 say:2 seven:1 straw:1 hat:1 piza:1 restaurant:2 los:1 angeles:1 bakersfield:1 calif:1 announce:2 plan:1 buy:1 friday:1 expect:2 generate:1 annual:1 sale:1 3:1 800:1 000:1 dlrs:2 eight:1 mln:1 company:2 originally:1 convert:1 hut:1 unit:1 closing:1 around:1 march:1 31:1
|
NATIONAL PIZZA <PIZA> CORRECTS FIGURE
National Pizza Co said the
seven Straw Hat Piza restaurants in Los Angeles and
Bakersfield, Calif., that it announced plans to buy Friday are
expected to generate annual sales of about 3,800,000 dlrs, not
the eight mln dlrs the company originally announced.
The company said it will convert the restaurants to Pizza
Hut units. Closing is expected around March 31.
|
training/541
|
training/541 |@title benguet:1 corp:1 calendar:1 1986:1 |@word net:1 income:1 154:1 7:1 mln:4 pesos:1 vs:4 127:1 5:1 operating:1 revenue:1 4:3 42:1 billion:2 3:3 operate:1 profit:1 621:1 2:1 203:1 earning:2 per:1 share:1 80:1 95:1 note:1 company:1 statement:1 say:1 gold:1 operation:1 contribute:1 74:1 pct:1 consolidated:1
|
BENGUET CORP <BE> CALENDAR 1986
Net income 154.7 mln pesos vs 127.5 mln
Operating revenues 4.42 billion vs 3.3 billion
Operating profit 621.2 mln vs 203.4 mln
Earnings per share 4.80 vs 3.95
NOTE: Company statement said gold operations contributed 74
pct of consolidated earnings.
|
training/5410
|
training/5410 |@title tbg:1 holdings:1 n:1 v:1 tgbn:1 1986:1 year:1 net:1 |@word net:1 profit:2 34:1 mln:2 dlrs:4 vs:2 43:1 turnover:1 1:4 82:1 billion:2 83:1 note:1 company:1 lower:1 nine:1 pct:2 13:1 5:1 interest:1 rate:1 outstanding:1 subordinated:1 loan:1 period:1 august:1 1987:1 july:1 31:1 1988:1 tbg:2 formerly:1 know:1 thyssen:1 bornemisza:1 group:1 report:1 since:1 december:1 1984:1 start:1 1985:1 financial:1 year:1 say:1 decline:1 mainly:1 cause:1 loss:1 container:1 rental:1 activity:1
|
TBG HOLDINGS N.V. <TGBN.AS> 1986 YEAR NET
Net profit 34 mln dlrs vs 43 mln dlrs.
Turnover 1.82 billion dlrs vs 1.83 billion.
NOTE: Company lowered to nine pct from 13.5 pct interest
rate on outstanding subordinated loan for period august 1,
1987, to July 31, 1988.
TBG, formerly known as <Thyssen-Bornemisza Group>, reports
in dlrs since December 1, 1984, the start of the 1985 financial
year.
TBG said the decline in profits was mainly caused by losses
in container rental activities.
|
training/5411
|
training/5411 |@title avaq:2 international:1 seek:1 commitment:1 deal:1 |@word international:1 inc:1 say:6 intend:1 require:1 gates:5 learjet:4 corp:4 glj:1 honor:1 agreement:2 sell:1 share:4 company:1 avaq:3 make:2 statement:1 response:1 offer:6 interconnect:3 capital:1 gate:3 believe:1 accept:1 pusuant:1 guideline:1 six:1 dlrs:3 per:2 plus:2 purchase:1 promisary:1 note:1 23:1 mln:3 7:1 07:1 repurchase:1 loan:1 13:1 aggregate:1 price:1 95:1 dlr:1 range:1 board:1 director:1 march:1 9:1 approve:1 feb:1 26:1
|
AVAQ INTERNATIONAL TO SEEK COMMITMENT ON DEAL
<AVAQ International Inc> said it
intends to require Gates Learjet Corp <GLJ> to honor its
agreement to sell its shares to the company.
AVAQ said it made the statement in response to an offer by
<Interconnect Capital Corp> for all of Gates Learjet shares
after what it believed to be an agreement by Gates to accept
its offer.
AVAQ said it offered, pusuant to Gates' guidelines, six
dlrs per share, plus the purchase of Gates Corp's promisary
note for 23 mln dlrs.
Interconnect said it offered 7.07 dlrs per share, plus the
repurchase of the loan for 13 mlns, for an aggregate price in
the 95 mln dlr range. Interconnect said it made the offer to
the board of directors of Gates Learjet on March 9.
AVAQ said Gates Corp and Gates Learjet approved its offer
Feb 26.
|
training/5412
|
training/5412 |@title spain:1 relax:1 exchange:1 control:1 |@word bank:14 spain:5 relax:1 exchange:4 control:3 help:2 put:1 spanish:3 equal:1 footing:1 european:2 community:2 competitor:2 1993:1 deadline:1 ending:1 restriction:3 central:4 spokesman:3 say:9 measure:5 take:2 effect:1 june:1 design:1 lift:3 foreign:11 currency:6 operation:3 line:1 deregulation:4 banking:1 industry:1 telephone:1 interview:1 relaxation:1 highlight:1 broad:1 package:1 reform:1 announce:1 last:4 friday:1 statement:1 include:1 increase:1 provision:2 high:2 risk:1 borrower:1 future:1 pension:1 fund:3 obligation:1 late:2 step:1 deregulate:1 financial:1 sector:1 move:1 trigger:1 entry:1 year:4 five:1 complete:1 process:1 begin:1 1978:1 government:4 allow:2 open:1 branch:1 since:1 39:1 come:1 market:1 15:2 pct:7 system:1 lending:1 asset:2 resident:1 borrow:2 freely:1 equivalent:1 1:2 5:2 billion:2 peseta:5 previous:1 ceiling:2 750:2 mln:3 pesetas:1 limit:2 set:1 march:1 date:1 end:1 430:1 dlrs:1 flow:1 country:2 new:2 loan:2 technically:1 subject:1 authorisation:1 would:1 give:1 clearance:1 fail:1 act:1 day:2 also:3 expand:1 funding:1 formerly:1 obtainable:1 deposit:7 issue:3 certificate:1 bond:1 commercial:1 paper:1 employ:1 invest:1 convert:1 mixed:1 instead:1 lend:1 amount:1 previously:1 three:1 time:1 capital:2 equity:1 welcome:1 banker:3 contrast:1 ruling:2 earlier:1 month:1 impose:1 19:1 reserve:3 requirement:4 convertible:1 hold:1 free:1 short:2 term:2 rate:4 already:1 place:2 normal:1 intend:1 curb:1 speculative:1 enter:1 threaten:1 money:1 supply:1 growth:1 target:1 account:1 30:1 disadvantage:1 reduce:1 fix:1 investment:1 11:1 23:1 offset:1 negative:1 impact:1 interest:3 real:1 problem:1 freeing:1 go:1 big:1 bite:1 profit:2 six:1 pay:1 180:1 chairman:1 one:1 lead:1 expect:1 bring:1 20:1 drop:1
|
SPAIN TO RELAX EXCHANGE CONTROLS
The Bank of Spain is relaxing exchange
controls to help put Spanish banks on an equal footing with
European Community competitors by the 1993 deadline for the
ending of restrictions, a central bank spokesman said.
'The measures to take effect by June were designed to lift
restrictions on foreign currency operations, in line with
deregulation in the banking industry,' he said in a telephone
interview.
The spokesman said the relaxation of exchange controls
highlighted a broader package of reforms announced last Friday.
The central bank said in a statement the measures included
increased provisions for high-risk borrowers and a provision
for future pension fund obligations.
It said the measures were the latest steps to deregulate
Spain's financial sector, a move triggered by entry into the
Community last year.
Spain has five years to complete bank deregulation, a
process that began in 1978 when the government allowed foreign
banks to open branches.
Since then 39 foreign banks have come into the market and
they now control about 15 pct of the system's lending assets.
Residents in Spain can now borrow freely in foreign
currency up to the equivalent of 1.5 billion pesetas against a
previous ceiling of 750 mln pesetas.
The 750 mln peseta limit was set last March. Between that
date and the end of last year some 430 mln dlrs flowed into the
country on new foreign currency loans.
The central bank spokesman said operations over 1.5 billion
pesetas were technically subject to authorisation, but would be
given clearance if the government failed to act in 15 days.
Spanish banks will also be allowed to expand their foreign
currency funding, formerly obtainable through deposits, by
issuing certificates of deposit, bonds and commercial paper.
They can also employ these funds to invest in foreign
issues, while before they had to be converted into deposits.
Foreign exchange operations can be in mixed currencies,
instead of having to borrow and lend in the same currency.
The central bank has also lifted the restriction on the
amount of foreign exchange loans, which previously were limited
to three times a bank's capital equity.
The latest deregulation measures were welcomed by most
bankers, in contrast to rulings issued earlier this month which
imposed a 19 pct reserve requirement on new convertible peseta
funds held by banks and freed short term deposit rates.
The reserve requirement, which was already in place on
normal peseta deposits, was intended to curb short-term foreign
speculative capital which is entering the country and
threatening the government's money supply growth target.
A foreign banker said high reserve requirements, which now
account for about 30 pct of deposits, placed Spanish banks at a
disadvantage with European competitors.
The government reduced fixed asset investment requirements
to 11 pct from 23 pct to help offset the negative impact of
interest rate deregulation. 'The real problem is the freeing of
interest rates,' the banker said. 'This is going to take a big
bite out of profits.'
The ruling lifted a six pct ceiling on interest rates paid
on deposits of up to 180 days.
The chairman of one of Spain's leading banks said the
measure was expected to bring a 20 pct drop in profits this
year.
|
training/5414
|
training/5414 |@title standard:1 product:1 co:1 std:1 raise:1 quarterly:1 |@word qtly:1 div:1 20:1 ct:2 vs:1 16:1 prior:1 pay:1 april:2 24:1 record:1 10:1
|
STANDARD PRODUCTS CO <STD> RAISES QUARTERLY
Qtly div 20 cts vs 16 cts prior
Pay April 24
Record April 10
|
training/5415
|
training/5415 |@title aaron:1 spelling:1 productions:1 inc:1 sp:1 2nd:1 qtr:1 net:1 |@word jan:1 31:2 end:1 shr:2 ct:4 vs:6 44:1 net:3 5:1 705:1 000:3 8:1 101:1 revs:2 50:1 6:2 mln:6 67:1 2:3 1st:1 half:2 63:1 71:1 11:1 13:1 80:1 9:1 105:1 note:1 current:1 include:1 750:1 dlr:1 charge:1 reorganization:1
|
AARON SPELLING PRODUCTIONS INC <SP> 2ND QTR NET
Jan 31 end
Shr 31 cts vs 44 cts
Net 5,705,000 vs 8,101,000
Revs 50.6 mln vs 67.2 mln
1st half
Shr 63 cts vs 71 cts
Net 11.6 mln vs 13.2 mln
Revs 80.9 mln vs 105.2 mln
NOTE: Current half net includes 750,000 dlr charge from
reorganization.
|
training/5416
|
training/5416 |@title cooper:1 lasersonics:1 inc:1 zaps:1 1st:1 qtr:1 loss:1 |@word period:1 end:1 january:1 31:1 shr:1 loss:2 22:1 ct:3 vs:4 profit:2 one:1 net:1 4:1 700:1 000:4 150:1 sale:1 15:1 0:1 mln:3 16:1 7:1 avg:1 shrs:1 21:1 538:1 19:1 259:1 note:1 prior:1 qtr:1 figure:1 include:1 gain:1 1:2 dlrs:1 six:1 per:1 share:1 discontinue:1 operation:1
|
COOPER LASERSONICS INC <ZAPS> 1ST QTR LOSS
Period ended January 31.
Shr loss 22 cts vs profit one ct
Net loss 4,700,000 vs profit 150,000
Sales 15.0 mln vs 16.7 mln
Avg shrs 21,538,000 vs 19,259,000
Note: Prior qtr figures include gain of 1.1 mln dlrs, or
six cts per share, from discontinued operations.
|
training/5417
|
training/5417 |@title diversify:1 industry:1 dei:1 1st:1 qtr:1 oper:1 net:1 |@word period:1 end:1 jan:1 31:1 oper:2 shr:1 two:1 ct:4 vs:5 eight:1 net:1 96:1 000:4 449:1 sale:1 37:1 6:1 mln:2 35:1 8:1 avg:1 shrs:1 5:2 317:1 900:1 689:1 277:1 note:1 full:1 name:1 diversify:1 industries:1 inc:1 earning:1 exclude:1 gain:1 utilization:1 tax:1 loss:1 carryforward:1 62:1 dlrs:2 one:1 share:2 358:1 six:1
|
DIVERSIFIED INDUSTRIES <DEI> 1ST QTR OPER NET
Period ended Jan 31
Oper shr two cts vs eight cts
Oper net 96,000 vs 449,000
Sales 37.6 mln vs 35.8 mln
Avg shrs 5,317,900 vs 5,689,277
NOTE: Full name is Diversified Industries Inc
Earnings exclude gains from utilization of tax loss
carryforwards of 62,000 dlrs, or one ct a share vs 358,000
dlrs, or six cts a share
|
training/5421
|
training/5421 |@title hoechst:1 celanese:1 set:1 expansion:1 program:1 |@word hoechst:3 ag:1 hfag:1 f:1 u:1 unit:3 celanese:2 corp:1 say:3 begin:1 project:1 cost:1 150:1 mln:1 dlrs:2 form:1 last:1 month:1 complete:1 acquisition:1 2:1 84:1 billion:1 company:1 expand:1 sanwet:1 super:1 absorbent:1 polymer:1 acrylic:1 acid:1 facility:1 also:1 plan:1 acetaminophen:1 production:1 plant:1 bishop:1 texas:1
|
HOECHST CELANESE SETS EXPANSION PROGRAM
Hoechst AG's <HFAG.F> U.S. unit,
Hoechst Celanese Corp, said it has begun projects that will
cost more than 150 mln dlrs.
The unit was formed last month when Hoechst completed the
acquisition of Celanese for 2.84 billion dlrs.
The company said it will expand its Sanwet super absorbent
polymers unit and its acrylic acid facility. It also said it
plans an acetaminophen production plant at Bishop, Texas.
|
training/5422
|
training/5422 |@title golden:1 nugget:1 inc:1 gng:1 4th:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:6 20:1 ct:4 vs:10 19:1 net:4 7:2 001:2 000:8 6:3 761:1 revs:2 93:1 0:2 mln:10 90:1 avg:2 shrs:2 35:1 2:4 34:2 8:2 year:3 profit:4 10:1 65:1 3:1 419:1 22:1 381:1 385:1 33:1 9:2 note:1 exclude:1 debt:1 retirement:1 gain:1 dlrs:6 316:1 quarter:2 15:1 1:1 714:1 1986:1 include:1 tax:1 crdit:1 942:1 729:1
|
GOLDEN NUGGET INC <GNG> 4TH QTR LOSS
Oper shr loss 20 cts vs loss 19 cts
Oper net loss 7,001,000 vs loss 6,761,000
Revs 93.0 mln vs 90.6 mln
Avg shrs 35.2 mln vs 34.8 mln
Year
Oper shr profit 10 cts vs profit 65 cts
Oper net profit 3,419,000 vs profit 22.6 mln
Revs 381.7 mln vs 385.0 mln
Avg shrs 33.8 mln vs 34.9 mln
NOTE: Net excludes debt retirement gain 2,001,000 dlrs vs
loss 316,000 dlrs in quarter and losses 15.9 mln dlrs vs
1,714,000 dlrs in year.
1986 net includes tax crdits of 2,942,000 dlrs in quarter
and 2,729,000 dlrs in year.
|
training/5423
|
training/5423 |@title oppenheimer:1 industries:1 opp:1 see:1 year:1 loss:1 |@word oppenheimer:1 industries:1 inc:1 say:3 expect:2 report:1 loss:2 year:3 end:1 january:1 31:1 980:1 000:2 dlrs:2 compare:1 profit:1 211:1 074:1 company:2 blame:1 continue:1 depression:1 agriculture:1 discontinuance:1 several:1 program:1 due:1 passage:1 1986:1 tax:1 bill:1 failure:1 close:1 sale:1 four:1 ranch:1 california:1 carrizo:1 plain:1 prospective:1 purchaser:1 forfiete:1 500:1 dlr:1 deposit:1 talk:1 new:1 contract:1
|
OPPENHEIMER INDUSTRIES <OPP> SEES YEAR LOSS
Oppenheimer Industries Inc said it
expects to report a loss for the year ended January 31 of about
980,000 dlrs, compared with a profit of 211,074 dlrs a year
before.
The company blamed the loss on the continuing depression in
agriculture, the discontinuance of several programs due to the
passage if the 1986 tax bill and the failure to close the sale
of four ranches in the California Carrizo Plains during the
year as expected.
The company said the prospective purchaser forfieted a
500,000 dlr deposit It said it is in talks on a new contract.
|
training/5426
|
training/5426 |@title luby:1 cafeterias:1 inc:1 lub:1 2nd:1 qtr:1 feb:1 28:1 net:1 |@word shr:2 31:1 ct:4 vs:6 26:1 net:3 5:1 645:1 000:4 4:2 737:1 sale:3 55:1 2:2 mln:5 50:1 6:1 1st:1 half:1 60:1 53:1 10:1 9:2 659:1 110:1 102:1 note:1 current:1 year:1 period:1 include:1 474:1 dlr:1 gain:1 land:1 share:1 adjust:1 three:1 two:1 split:1 august:1 1986:1
|
LUBY'S CAFETERIAS INC <LUB> 2ND QTR FEB 28 NET
Shr 31 cts vs 26 cts
Net 5,645,000 vs 4,737,000
Sales 55.2 mln vs 50.6 mln
1st half
Shr 60 cts vs 53 cts
Net 10.9 mln vs 9,659,000
Sales 110.4 mln vs 102.2 mln
NOTE: Current year net both periods includes 474,000 dlr
gain from land sale.
Share adjusted for three-for-two split in August 1986.
|
training/5429
|
training/5429 |@title tesco:1 forecast:1 profit:1 rise:1 year:1 |@word tesco:3 plc:2 tsco:1 l:1 say:2 statement:1 expect:1 pre:1 tax:1 profit:3 166:1 mln:5 stg:4 year:2 end:1 february:1 28:1 1987:1 nine:1 net:2 property:2 compare:1 122:1 9:1 pretax:1 8:1 1:1 sale:1 previous:1 forecast:1 formal:1 offer:2 document:1 send:1 hillards:1 shareholder:1 today:1 march:1 10:1 launch:1 151:1 4:1 bid:1 hillard:3 13:1 new:1 ordinary:3 share:3 every:1 20:1 value:1 305:1 5p:1
|
TESCO FORECASTS PROFITS RISE THIS YEAR
Tesco Plc <TSCO.L> said in a statement
it expects pre-tax profits of 166 mln stg for the year ending
February 28, 1987, before nine mln stg of net property profits.
This compares with 122.9 mln stg pretax profits and a net 8.1
mln on property sales the previous year. It said the forecast
was in its formal offer document sent to <Hillards Plc>
shareholders today.
On March 10 Tesco launched a 151.4 mln stg bid for
Hillards. The offer, of 13 new Tesco ordinary shares for every
20 Hillards ordinary shares, valued each Hillards ordinary
share at 305.5p.
|
training/543
|
training/543 |@title unocal:1 ucl:1 unit:1 cut:1 crude:1 oil:1 post:1 price:1 |@word unocal:1 corp:1 union:3 oil:3 co:1 say:4 lower:2 post:3 price:3 crude:2 one:1 1:3 50:3 dlrs:5 barrel:1 eastern:1 region:1 u:2 effective:1 feb:1 26:1 cut:1 bring:1 benchmark:1 grade:2 west:2 texas:1 intermediate:1 16:2 louisiana:1 sweet:1 also:1 35:1 company:2 change:1 make:1 coast:1
|
UNOCAL <UCL> UNIT CUTS CRUDE OIL POSTED PRICES
Unocal Corp's Union Oil Co said it
lowered its posted prices for crude oil one to 1.50 dlrs a
barrel in the eastern region of the U.S., effective Feb 26.
Union said a 1.50 dlrs cut brings its posted price for the
U.S. benchmark grade, West Texas Intermediate, to 16 dlrs.
Louisiana Sweet also was lowered 1.50 dlrs to 16.35 dlrs, the
company said.
No changes were made in Union's posted prices for West
Coast grades of crude oil, the company said.
|
training/5431
|
training/5431 |@title business:1 computer:1 bcsi:1 4th:1 quarter:1 profit:1 |@word business:2 computer:3 solutions:1 inc:1 say:2 expect:2 report:2 profit:2 fourth:1 quarter:1 end:1 february:1 28:1 first:1 quarterly:1 ever:1 175:1 000:6 dlrs:8 revenue:2 750:1 year:3 lose:2 217:1 852:1 sale:2 469:1 274:1 company:1 attribute:1 improve:1 result:1 increase:1 purchase:1 zfour:1 language:1 development:1 environment:1 software:1 full:1 loss:1 500:1 2:1 100:1 last:1 1:1 079:1 720:1
|
BUSINESS COMPUTER <BCSI> HAD 4TH QUARTER PROFIT
Business Computer Solutions Inc said it
expects to report a profit for the fourth quarter ended
February 28 -- its first quarterly profit ever -- of about
175,000 dlrs on revenues of about 750,000 dlrs.
A year before, it lost 217,852 dlrs on sales of 469,274
dlrs. The company attributed the improved results to increased
purchases of its ZFOUR language and development environment for
computer software.
Business Computer said it expects to report a full-year
loss of about 500,000 dlrs on sales of about 2,100,000 dlrs.
Last year it lost 1,079,000 dlrs on revenues of 720,000 dlrs.
|
training/5434
|
training/5434 |@title fed:2 say:2 set:2 three:2 day:2 system:2 repurchase:2 agreement:2 |@word
|
FED SAYS IT SETS THREE-DAY SYSTEM REPURCHASE AGREEMENTS
FED SAYS IT SETS THREE-DAY SYSTEM REPURCHASE AGREEMENTS
|
training/5435
|
training/5435 |@title mim:1 acquire:1 stake:1 german:1 copper:1 producer:1 |@word mount:1 isa:1 mines:1 hold:2 ltd:1 plan:1 acquire:1 30:2 pct:6 stake:1 europe:1 large:1 primary:1 copper:2 producer:2 norddeutsche:1 affinerie:1 ag:4 spokesman:1 metallgesellschaft:2 say:1 mim:3 intend:1 take:2 preussag:1 total:1 20:1 share:4 exchange:1 three:1 capital:1 also:1 another:1 10:1 degussa:2 reduce:1 40:2 remain:1 move:1 subject:1 approval:1 federal:1 cartel:1 office:1 supervisory:1 board:1 company:1 involve:1
|
MIM TO ACQUIRE STAKE IN GERMAN COPPER PRODUCER
Mount Isa Mines Holding Ltd plans to
acquire a 30 pct stake in Europe's largest primary copper
producer, Norddeutsche Affinerie AG, a spokesman for
Metallgesellschaft AG said.
MIM intends to take Preussag AG's total 20 pct share in the
copper producer in exchange for some three pct of MIM's share
capital. MIM will also take another 10 pct now held by Degussa
AG, reducing Degussa's share to 30 pct from 40.
Metallgesellschaft's share will remain at 40 pct.
The move is subject to approval of the federal cartel
office and supervisory boards of the companies involved.
|
training/5437
|
training/5437 |@title j:1 w:1 mays:2 inc:1 2nd:1 qtr:1 jan:1 31:1 net:1 |@word shr:2 2:2 27:2 dlrs:5 vs:6 74:1 ct:2 net:2 4:2 945:1 989:1 1:3 612:1 624:1 rev:1 28:1 mln:6 9:2 six:2 mth:2 57:1 three:1 3:2 417:1 659:1 73:1 614:1 revs:1 47:1 0:1 46:1 8:1 note:1 current:1 period:1 include:2 pretax:1 gain:3 sale:1 leasehold:1 glen:1 oaks:1 store:1 queens:1 n:1 benefit:1 tax:1 loss:1 carryforward:1 year:2 ago:1 95:1 988:1 refund:1 prior:1 real:1 estate:1 taxis:1
|
J.W. MAYS INC <MAYS> 2ND QTR JAN 31 NET
Shr 2.27 dlrs vs 74 cts
Net 4,945,989 vs 1,612,624
Revs 28.2 mln vs 27.9 mln
Six mths
Shr 1.57 dlrs vs three cts
Net 3,417,659 vs 73,614
Revs 47.0 mln vs 46.8 mln
NOTE: Current periods include pretax gain of 4.3 mln dlrs
from sale of leasehold of Glen Oaks store in Queens, N.Y. and
gain of 1.9 mln dlrs from benefit of tax loss carryforwards.
Year-ago six mths includes gain of 95,988 dlrs from refund
of prior year's real estate taxes.
|
training/5438
|
training/5438 |@title circus:2 enterprise:1 cir:1 4th:1 qtr:1 net:1 |@word oper:4 shr:2 16:1 ct:5 vs:6 14:1 net:2 5:2 818:1 000:4 284:1 rev:1 88:1 2:1 mln:6 69:1 7:3 year:2 96:1 one:1 dlr:1 36:1 101:1 37:1 375:1 revs:1 374:1 0:2 307:1 note:1 current:1 qtr:1 figure:1 exclude:1 extraordinary:1 loss:1 early:1 debt:1 retirement:1 1:1 dlrs:2 five:1 per:2 share:2 9:1 21:1 respectively:1 full:1 name:1 circus:2 enterprises:1 inc:1
|
CIRCUS CIRCUS ENTERPRISES <CIR> 4TH QTR NET
Oper shr 16 cts vs 14 cts
Oper net 5,818,000 vs 5,284,000
Revs 88.2 mln vs 69.7 mln
Year
Oper shr 96 cts vs one dlr
Oper net 36,101,000 vs 37,375,000
Revs 374.0 mln vs 307.0 mln
Note: Current qtr and year figures exclude extraordinary
losses on early debt retirement of 1.7 mln dlrs, or five cts
per share and 7.9 mln dlrs, or 21 cts per share, respectively.
Full name Circus Circus Enterprises Inc.
|
training/5439
|
training/5439 |@title fed:1 add:1 reserve:1 via:1 three:1 day:1 repurchase:1 |@word federal:2 reserve:2 enter:1 u:1 government:1 security:1 market:1 arrange:1 three:1 day:1 system:2 repurchase:1 agreement:1 fed:2 spokesman:1 say:2 dealer:1 fund:1 trade:1 6:1 1:1 4:1 pct:1 begin:1 temporary:1 direct:1 supply:1 banking:1
|
FED ADDS RESERVES VIA THREE-DAY REPURCHASES
The Federal Reserve entered the U.S.
Government securities market to arrange three-day System
repurchase agreements, a Fed spokesman said.
Dealers said that Federal funds were trading at 6-1/4 pct
when the Fed began its temporary and direct supply of reserves
to the banking system.
|
training/544
|
training/544 |@title panhandle:1 pel:1 trunkline:1 reduce:1 gas:1 rate:1 |@word panhandle:1 eastern:1 corp:1 trunkline:2 gas:4 co:1 pipeline:2 subsidiary:1 say:3 reduce:2 commodity:2 component:1 wholesale:1 natural:1 rate:4 four:1 pct:1 effective:1 immediately:1 filing:1 federal:1 energy:1 regulatory:1 commission:1 portion:1 total:1 base:1 price:2 2:2 58:1 dlrs:2 per:2 mln:2 btu:2 69:1 company:1 low:1 result:1 reduction:1 average:1 pay:1 add:1 reflect:1 contract:1 reformation:1 agreemat:1 producer:1
|
PANHANDLE'S <PEL> TRUNKLINE REDUCES GAS RATES
Panhandle Eastern Corp's Trunkline Gas
Co pipeline subsidiary said it is reducing the commodity
component of its wholesale natural gas rate four pct, effective
immediately.
In a filing with the Federal Energy Regulatory Commission,
Trunkline said, it is reducing its commodity rate -- the
portion of the total rate based on the price of gas -- to 2.58
dlrs per mln Btu from 2.69 dlrs per mln Btu.
The company said the lower rate results from a reduction in
the average price the pipeline is paying for gas, adding this
reflects contract reformation agreemats with producers.
|
training/5440
|
training/5440 |@title national:1 fuel:1 gas:1 co:1 nfg:1 set:1 mail:1 date:1 |@word national:1 fuel:1 gas:1 co:1 say:2 mail:1 date:2 previously:1 announce:2 two:1 one:1 stock:1 split:3 june:1 19:1 1987:2 company:1 last:1 week:1 record:1 may:1 29:1
|
NATIONAL FUEL GAS CO <NFG> SETS MAIL DATE
National Fuel Gas Co said its mail
date for its previously-announced two-for-one stock split is
June 19, 1987.
The company, which announced the split last week, had said
the record date for the split is May 29, 1987.
|
training/5441
|
training/5441 |@title comtech:1 cmtl:1 sell:1 premier:1 microwave:1 |@word comtech:1 inc:1 say:3 agree:1 principle:1 sell:1 95:1 pct:1 outstanding:1 share:1 premier:1 microwave:1 corp:1 seven:1 mln:1 dlrs:1 buyer:1 include:1 investment:1 group:1 compose:1 unit:1 management:1 company:1 expect:1 sale:1 close:1 next:1 week:1 proceed:1 use:1 reduce:1 debt:1
|
COMTECH <CMTL> TO SELL PREMIER MICROWAVE
Comtech Inc said it agreed in
principle to sell 95 pct of its outstanding shares in Premier
Microwave Corp for seven mln dlrs.
It said the buyers include an investment group composed of
the unit's management.
The company said it expects the sale to close in the next
few weeks. Proceeds will be used to reduce debt.
|
training/5442
|
training/5442 |@title investment:1 firm:1 5:1 9:1 pct:1 purolator:1 pcc:1 |@word group:4 affiliate:1 new:1 york:1 base:1 investment:2 firm:1 fund:1 tell:1 securities:1 exchange:1 commission:1 acquire:1 453:1 300:1 share:2 purolator:2 courier:1 corp:2 5:1 9:1 pct:1 total:1 outstanding:1 lead:1 mutual:1 shares:1 say:3 buy:1 stock:2 purpose:1 also:1 study:1 35:1 dlr:1 leverage:1 buyout:1 offer:2 make:1 manager:1 e:1 f:1 hutton:2 lbo:2 inc:1 decide:1 whether:1 tender:1 hold:1 talk:1 may:1
|
INVESTMENT FIRMS HAVE 5.9 PCT OF PUROLATOR <PCC>
A group of affiliated New York-base
investment firms and funds told the Securities and Exchange
Commission they have acquired 453,300 shares of Purolator
Courier Corp, or 5.9 pct of the total outstanding.
The group, led by Mutual Shares Corp, said it bought the
stock for investment purposes.
It also said it is studying the 35 dlr a share leveraged
buyout offer made by Purolator managers and E.F. Hutton LBO Inc
but has not decided whether it will tender its stock in the
offer. The group said it has held talks with the Hutton LBO
group before and may do so again.
|
training/5443
|
training/5443 |@title tofutti:1 brands:1 tof:1 see:1 profit:1 new:1 year:1 |@word tofutti:2 brands:1 inc:1 say:2 change:1 fiscal:1 year:4 calendar:3 end:3 july:2 31:2 expect:1 profitable:1 high:1 sale:2 1987:1 company:2 lose:1 658:1 000:1 dlrs:2 11:1 6:1 mln:1 spokesman:1 report:2 earning:1 last:1 five:1 month:1 1986:1 march:1 first:1 quarter:1 result:1
|
TOFUTTI BRANDS <TOF> SEES PROFIT FOR NEW YEAR
Tofutti Brands Inc said it is
changing its fiscal year to a calendar year from a year ending
July 31, and it expects to be profitable on higher sales in
1987.
The company lost 658,000 dlrs on sales of 11.6 mln dlrs in
the year ended July 31. A company spokesman said Tofutti will
be reporting earnings for the last five months of calendar 1986
by the end of March and will then report calendar first quarter
results.
|
training/5444
|
training/5444 |@title digitech:1 inc:1 dgtc:1 1st:1 qtr:1 jan:1 31:1 net:1 |@word shr:1 two:1 ct:2 vs:4 eight:1 net:1 270:1 000:4 1:3 212:1 revs:1 858:1 420:1 avg:1 shrs:1 16:1 817:1 618:1 12:1 507:1 671:1
|
DIGITECH INC <DGTC> 1ST QTR JAN 31 NET
Shr two cts vs eight cts
Net 270,000 vs 1,212,000
Revs 1,858,000 vs 1,420,000
Avg shrs 16,817,618 vs 12,507,671
|
training/5445
|
training/5445 |@title union:1 vote:1 strike:1 dakota:1 city:1 ibp:1 plant:1 |@word member:3 united:1 food:1 commercial:1 workers:1 union:4 ufcw:2 local:1 222:1 vote:2 sunday:1 go:2 strike:2 iowa:1 beef:1 processors:1 inc:1 dakota:1 city:1 nebraska:1 plant:1 effective:1 tuesday:1 company:3 submit:2 late:4 offer:5 time:1 announce:1 would:1 end:1 lockout:1 tomorrow:1 start:1 december:1 14:1 unanimously:1 reject:1 last:2 week:2 overwhelming:1 majority:1 approximately:1 2:1 500:1 attend:1 meeting:1 spokesman:1 allen:1 zack:3 say:4 cut:5 wage:3 unacceptable:1 ibp:2 refuse:1 bargain:1 good:1 faith:1 include:1 60:1 cent:2 hour:4 slaughter:1 operation:1 45:1 pay:2 processing:1 worker:2 follow:2 1:1 07:1 dlr:1 receive:1 1982:1 freeze:1 since:1 also:1 eliminate:1 overtime:1 eight:1 normal:1 40:1 work:1 add:1
|
UNION VOTES TO STRIKE DAKOTA CITY IBP PLANT
Members of the United Food and
Commercial Workers union, UFCW, local 222 voted Sunday to go on
strike against Iowa Beef Processors Inc Dakota City, Nebraska,
plant, effective Tuesday.
The company submitted their latest offer to the union at
the same time announcing that they would end the lockout as of
tomorrow that started December 14.
Members unanimously rejected the latest company offer that
was submitted to the union late last week. An overwhelming
majority of the approximately 2,500 members attending the
meeting then voted to go on strike, UFCW union spokesman Allen
Zack said.
Zack said the company's offer for a cut in wages was
unacceptable and said IBP was refusing to bargain in good
faith.
IBP's latest offer included wage cuts of 60 cents an hour
for slaughter operations and a 45 cents an hour cut in pay for
processing workers. The cut follows the 1.07 dlr cut in pay
workers received in 1982 and the wage freeze that has lasted
since then, Zack said.
The offer also eliminated overtime after eight hours
following the normal 40 hour work week, he added.
|
training/5447
|
training/5447 |@title belgium:1 revise:1 1987:1 gnp:1 growth:1 forecast:1 |@word belgian:2 government:4 lower:1 forecast:4 nominal:2 increase:1 gross:2 national:2 product:2 1987:2 3:2 5:2 pct:6 originally:1 9:3 prime:1 minister:1 wilfrie:1 martens:1 say:5 statement:1 parliament:1 revision:1 bring:1 closely:1 line:1 private:1 institution:1 take:1 account:1 anticipated:1 slowdown:1 world:1 economy:2 international:1 trade:1 impact:1 limit:1 due:1 recent:1 agreement:1 wage:1 working:1 condition:1 agree:1 employer:1 union:1 marten:1 much:1 expect:1 gnp:1 grow:1 volume:2 term:2 however:1 last:1 month:1 planning:1 bureau:1 revise:1 0:2 2:2 1986:1 belgium:1 rise:2 15:1
|
BELGIUM REVISES DOWN 1987 GNP GROWTH FORECASTS
The Belgian government has lowered its
forecast for the nominal increase in gross national product in
1987 to 3.5 pct from an originally forecast 3.9 pct, Prime
Minister Wilfried Martens said in a statement to parliament.
He said this revision, which brings government forecasts
more closely into line with those by private institutions,
takes account of an anticipated slowdown in the world economy
and international trade.
But he said the impact on the Belgian economy will be
limited due to recent agreements on wages and working
conditions agreed by employers and unions.
Martens did not say how much the government expected GNP to
grow in volume terms.
However, last month the government's Planning Bureau said
it had revised its 1987 forecast for this to 0.9 pct from 2.0
pct.
In 1986, Belgium's gross national product rose 2.15 pct in
volume terms against a 5.9 pct nominal rise.
|
training/545
|
training/545 |@title investor:1 group:1 talk:1 pesch:1 ami:2 wedge:1 |@word group:2 inc:2 houston:1 investment:2 firm:1 5:2 pct:1 stake:2 american:1 medical:1 international:1 say:6 talk:3 pesch:5 co:1 seek:3 control:4 company:4 filing:2 securities:1 exchange:1 commission:1 wedge:5 issam:1 fare:1 lebanese:1 citizen:1 live:1 switzerland:1 also:1 discuss:2 possibility:1 join:2 bid:3 ami:8 stress:1 current:1 plan:2 refuse:1 rule:1 takeover:2 try:2 future:1 discussion:1 management:2 closely:1 held:1 health:1 care:1 concern:1 chicago:1 physician:1 leroy:1 shareholder:2 specify:1 sec:1 issue:1 sell:1 produce:1 agreement:1 understanding:1 believe:1 form:1 restructuring:1 business:1 would:1 highly:1 desirable:1 appropriate:1 time:1 hold:2 4:1 8:1 mln:1 share:3 common:1 stock:1 last:1 week:1 sweeten:1 22:1 dlrs:2 cash:2 securtie:1 1:1 91:1 billion:1 base:1 total:1 outstanding:1 20:1 dlr:1 reject:1
|
INVESTOR GROUP HAS TALKS WITH PESCH ON AMI <AMI>
WEDGE Group Inc, a Houston investment
firm with a 5.5 pct stake in American Medical International
Inc, said it has had talks with Pesch and Co, which is seeking
control of the company.
In a filing with the Securities and Exchange Commission,
WEDGE, which is owned by Issam Fares, a Lebanese citizen living
in Switzerland, also said it discussed the possibility of
joining with others in its own bid to seek control of AMI.
WEDGE stressed that it has no current plans to seek control
of AMI, but refused to rule out a takeover try in the future.
WEDGE said it has had discussions with AMI management,
Pesch, the closely held health care and investment concern
controlled by Chicago physician LeRoy Pesch, and other AMI
shareholders.
It did not specify in its SEC filing which issues --
selling its AMI stake or joining with others in a takeover try
-- were discussed with which group. But it said the talks did
not produce any agreements or understandings.
WEDGE said it believes that 'some form of restructuring of
AMI and its business would be highly desirable and appropriate
at this time.'
WEDGE, which holds 4.8 mln shares of AMI common stock, said
it plans to hold further talks with company management, Pesch
and other shareholders.
Pesch last week sweetened his bid for the company to 22
dlrs a share in cash and securties, or 1.91 billion dlrs based
on AMI's total outstanding, from an all-cash 20 dlr a share
bid, which the company rejected.
|
training/5451
|
training/5451 |@title cabot:1 medical:1 corp:1 cbot:1 1st:1 qtr:1 jan:1 31:1 net:1 |@word shr:1 four:1 ct:2 vs:3 two:1 net:1 240:1 902:1 106:1 054:1 revs:1 3:1 408:1 481:1 2:1 566:1 769:1
|
CABOT MEDICAL CORP <CBOT> 1ST QTR JAN 31 NET
Shr four cts vs two cts
Net 240,902 vs 106,054
Revs 3,408,481 vs 2,566,769
|
training/5452
|
training/5452 |@title amerihealth:1 inc:1 ahth:1 4th:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:6 one:1 ct:4 vs:6 11:1 net:3 profit:2 89:1 000:10 323:1 revs:2 9:1 603:1 6:2 116:1 year:3 six:1 21:1 158:1 629:1 34:1 mln:2 22:1 8:1 note:1 1986:1 exclude:1 tax:1 credit:1 170:1 dlrs:4 quarter:2 321:1 gain:1 termination:1 pension:1 plan:1 82:1 190:1 share:1 preferred:1 dividend:1
|
AMERIHEALTH INC <AHTH> 4TH QTR LOSS
Oper shr loss one ct vs loss 11 cts
Oper net profit 89,000 vs loss 323,000
Revs 9,603,000 vs 6,116,000
Year
Oper shr loss six cts vs loss 21 cts
Oper net profit 158,000 vs loss 629,000
Revs 34.6 mln vs 22.8 mln
NOTE: 1986 net excludes tax credits of 170,000 dlrs in
quarter and 321,000 dlrs in year and gains on termination of
pension plan of 82,000 dlrs in quarter and 190,000 dlrs in
year.
Share after preferred dividends.
|
training/5453
|
training/5453 |@title bank:1 see:1 german:1 growth:1 least:1 two:1 pct:1 |@word external:1 risk:1 economy:2 increase:2 growth:2 two:1 2:1 5:1 pct:5 year:2 still:1 possible:1 accord:1 president:1 west:2 german:2 federation:1 banks:1 hanns:1 christian:1 schroeder:4 hohenwarth:4 tell:1 news:1 conference:1 fall:1 dollar:1 since:1 start:1 revaluation:1 mark:1 european:1 currency:1 mean:1 exporter:1 face:1 rough:1 wind:1 however:2 domestic:2 demand:1 continue:1 rise:1 private:1 consumption:1 particular:1 would:1 support:1 say:3 see:1 good:1 prospect:1 consumer:1 industry:1 economic:1 policy:1 concentrate:1 strengthen:1 context:1 welcome:1 decision:2 government:2 scope:1 tax:3 cut:3 due:1 1988:1 add:1 plan:2 reform:1 fiscal:1 system:1 schedule:1 1990:1 work:1 coalition:1 partner:1 month:1 important:1 step:1 right:1 direction:1 corporation:1 50:1 56:2 maximum:1 rate:1 income:1 53:1 rather:1 half:1 hearted:1
|
BANKS SEE GERMAN GROWTH OF AT LEAST TWO PCT
External risks for the economy have
increased, but growth of two to 2.5 pct this year is still
possible, according to President of the West German Federation
of Banks, Hanns Christian Schroeder-Hohenwarth.
Schroeder-Hohenwarth told a news conference the further
fall of the dollar since the start of this year and the
revaluation of the mark against European currencies meant West
German exporters were facing a 'rough wind.'
However, domestic demand was continuing to rise and private
consumption in particular would support the economy, he said.
He saw good prospects for consumer industries.
Schroeder-Hohenwarth said economic policy now had to
concentrate on strengthening this domestic growth. In this
context, he welcomed a decision by the government to increase
the scope of tax cuts due in 1988.
He added, a planned reform of the fiscal system scheduled
for 1990, which was worked out by coalition partners this
month, was an 'important step in the right direction.'
The government plans to cut corporation tax to 50 pct from
56 pct. However, Schroeder-Hohenwarth said the decision to cut
the maximum rate of income tax to only 53 pct from 56 pct was
'rather half-hearted.'
|
training/5454
|
training/5454 |@title cambridge:1 analytical:1 caan:1 see:1 first:1 qtr:1 loss:1 |@word cambridge:3 analytical:1 associates:1 inc:1 say:4 expect:4 incur:1 loss:3 first:3 quarter:5 fiscal:2 1987:1 equal:1 great:1 240:1 697:1 dlrs:4 fourth:2 end:2 december:2 31:2 1986:3 revenue:2 approximately:1 record:2 1:1 025:1 961:1 profit:1 2:1 204:1 847:1 000:1 company:3 attribute:1 low:1 sale:1 laboratory:1 consulting:1 business:1 plan:1 major:1 investment:1 proprietary:1 treatment:1 technology:1 winter:1 traditionally:1 slow:1 season:1
|
CAMBRIDGE ANALYTICAL <CAAN> SEES FIRST QTR LOSS
Cambridge Analytical Associates Inc said
it expects to incur a loss for the first quarter of fiscal 1987
equal to or greater than its loss of 240,697 dlrs for the
fourth quarter ended December 31, 1986.
Cambridge said it expects revenues for the first quarter to
be approximately the same as those recorded for the fourth
quarter ended December 31, 1986, of 1,025,961 dlrs.
Cambridge recorded a profit of 2,204 dlrs on revenues of
847,000 dlrs for the first quarter of fiscal 1986, the company
said.
The company attributed the expected loss to lower than
expected sales from its laboratory and consulting business and
planned major investment in its proprietary treatment
technology.
The company said winter is traditionally its slowest
season.
|
training/5455
|
training/5455 |@title seton:1 sel:1 get:1 buyout:1 offer:1 chairman:1 |@word seton:5 co:1 say:5 board:2 receive:1 proposal:1 chairman:1 chief:1 executive:1 officer:1 philip:1 kaltenbacher:3 acquire:1 15:1 75:1 dlrs:1 per:1 share:1 cash:1 acquisition:1 bid:1 subject:1 arrange:1 necessary:1 financing:1 intend:1 ask:1 member:2 senior:1 management:2 participate:1 company:1 30:1 pct:2 stock:1 another:1 7:1 5:1 form:1 independent:1 committee:1 consider:1 offer:1 defer:1 annual:1 meeting:1 schedule:1 march:1 31:1
|
SETON <SEL> GETS BUYOUT OFFER FROM CHAIRMAN
Seton Co said its board has
received a proposal from chairman and chief executive officer
Philip D. Kaltenbacher to acquire Seton for 15.75 dlrs per
share in cash.
Seton said the acquisition bid is subject to Kaltenbacher
arranging the necessary financing. It said he intends to ask
other members of senior management to participate.
The company said Kaltenbacher owns 30 pct of Seton stock
and other management members another 7.5 pct.
Seton said it has formed an independent board committee to
consider the offer and has deferred the annual meeting it had
scheduled for March 31.
|
training/5456
|
training/5456 |@title mrs:1 field:1 plan:1 open:1 store:1 u:1 |@word base:1 speciality:1 food:1 retailer:1 mrs:1 fields:1 inc:1 earlier:1 announce:1 pre:1 tax:1 profit:1 17:1 1:2 mln:4 dlrs:3 1986:2 6:2 8:2 1985:2 say:5 plan:3 growth:1 year:2 opening:1 125:1 new:3 store:4 u:3 company:5 quote:1 london:2 unlisted:1 security:1 market:1 usm:1 also:1 expand:1 outlet:1 internationally:1 however:1 chairman:1 randall:1 field:2 tell:1 news:1 conference:1 would:2 move:1 country:2 1987:2 intensify:1 effort:1 already:1 open:3 81:1 include:1 76:1 two:1 australia:1 one:1 japan:1 canada:1 k:1 intend:1 minimum:1 five:1 unit:1 example:1 reasonable:1 may:2 european:1 1988:1 acquire:1 competitive:1 business:1 matter:1 routine:1 add:1 decline:1 much:1 spend:1 last:1 turnover:1 rise:1 20:1 pct:1 87:1 72:1
|
MRS FIELDS PLANS TO OPEN MORE STORES
U.S. Based speciality food retailer <Mrs
Fields Inc>, which earlier announced pre-tax profits of 17.1
mln dlrs in 1986 against 6.8 mln in 1985, said it plans further
growth this year with the opening of 125 new stores in the U.S.
The company, which is quoted on London's Unlisted
Securities Market (USM), said it also planned to expand its
outlets internationally.
However, chairman Randall Fields told a news conference the
company would not move into any new countries during 1987 but
would intensify its efforts where it already had stores.
During 1986 the company opened 81 new stores, including 76
in the U.S., Two in Australia and one each in Japan, Canada and
the U.K.
'We intend to open a minimum of five more units in London
for example and it is reasonable that we might open other
stores in other European countries in 1988,' Fields said.
He said the company acquired competitive businesses as a
matter of routine, and might add others in 1987, but declined
to say how much the company planned to spend on them.
Last year turnover rose by 20.8 pct to 87.1 mln dlrs from
72.6 mln dlrs in 1985.
|
training/5458
|
training/5458 |@title brazil:1 say:1 debt:1 crisis:1 world:1 problem:1 |@word brazilian:1 finance:1 minister:1 dilson:1 funaro:4 say:6 country:6 foreign:3 debt:8 crisis:4 could:1 solve:2 change:1 international:3 financial:2 system:1 speak:1 business:1 conference:1 brazil:6 make:3 adjustment:2 imf:3 monetary:1 fund:3 community:1 take:1 away:1 resource:1 develop:2 third:1 big:1 trade:2 surplus:2 past:1 two:2 year:5 remit:1 24:1 billion:6 dlrs:3 servicing:1 receive:1 fresh:1 add:2 recent:1 trip:1 u:1 europe:1 japan:1 explain:1 decision:1 last:1 month:1 suspend:1 interest:1 payment:2 68:1 commercial:2 stress:1 commitment:1 growth:2 need:2 effort:2 problem:3 mean:1 stop:1 grow:1 political:1 purely:1 solution:2 whose:1 108:1 dlr:1 large:1 world:1 pressure:1 official:1 private:1 creditor:2 work:1 economic:1 program:1 combat:1 rocket:1 inflation:1 president:1 jose:1 sarney:1 government:1 repeatedly:1 refuse:1 approach:1 argue:1 programme:1 would:2 lead:2 recession:1 talk:1 try:1 restore:1 credibility:1 hope:1 find:1 lasting:1 negotiate:1 question:1 one:1 continuous:1 sustain:1 internal:1 import:1 machinery:1 equipment:1 export:1 raw:1 material:1 thus:1 targette:1 fall:2 8:1 0:1 1986:2 9:1 5:2 domestically:1 economy:1 reduction:1 public:1 sector:1 deficit:1 2:1 7:1 pct:2 gross:1 domestic:1 product:1 low:1 many:1 1:1
|
BRAZIL SAYS DEBT CRISIS IS WORLD PROBLEM
Brazilian Finance Minister
Dilson Funaro said his country's foreign debt crisis could only
be solved by changes in the international financial system.
Speaking to a business conference he said 'It is not Brazil
that has to make adjustments with the IMF (International
Monetary Fund). It is the international financial community
that is taking away resources from the developing countries.'
'The crisis is not in Brazil, a country that has had the
third biggest trade surplus ...In the past two years Brazil had
remitted 24 billion dlrs in debt servicing and received only
two billion in fresh funds,' he added.
Funaro said that during his recent trip to the U.S., Europe
and Japan to explain Brazil's decision last month to suspend
interest payments on 68 billion dlrs of commercial debt, he
stressed the country's commitment to growth.
'We need to and will make the effort (to solve the debt
problem) but we cannot make an effort that means we stop
growing,' he said, adding that political and not purely
commercial solutions were needed to the debt crisis.
Brazil, whose 108 billion dlr foreign debt is the largest
in the developing world, has been under pressure from official
and private creditors to work out an economic adjustment
program with the IMF to combat rocketing inflation and foreign
payments problems.
President Jose Sarney's government has repeatedly refused
to approach the Fund, arguing that an IMF programme would lead
to recession. Funaro said that in his talks with creditors he
had tried to restore credibility in the country in the hope of
finding a lasting solution to the debt problem.
'We are negotiating so that the debt question should not be
one of continuous crisis.'
To sustain internal growth Brazil would have to import more
machinery and equipment this year and export fewer raw
materials. The country was thus targetting a fall in this
year's trade surplus to 8.0 billion dlrs from 1986's 9.5
billion.
Domestically, Funaro said economies had led to a reduction
in the public sector deficit to 2.7 pct of gross domestic
product in 1986, the lowest for many years and that this should
fall to 1.5 pct this year.
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training/546
|
training/546 |@title international:1 inc:1 imsi:1 set:1 quarterly:1 |@word qtly:1 div:1 four:2 ct:2 vs:1 prior:1 pay:1 march:2 27:1 record:1 13:1
|
I.M.S. INTERNATIONAL INC <IMSI> SETS QUARTERLY
Qtly div four cts vs four cts prior
Pay March 27
Record March 13
|
training/5460
|
training/5460 |@title u:2 industrial:2 capacity:2 use:2 rate:2 rise:2 79:4 8:2 pct:4 feb:2 6:2 jan:2 |@word
|
U.S. INDUSTRIAL CAPACITY USE RATE ROSE TO 79.8 PCT IN FEB FROM 79.6 PCT IN JAN
U.S. INDUSTRIAL CAPACITY USE RATE ROSE TO 79.8 PCT IN FEB FROM 79.6 PCT IN JAN
|
training/5461
|
training/5461 |@title biotechnology:1 development:1 biod:1 4th:1 qtr:1 loss:1 |@word shr:2 loss:8 five:1 ct:4 vs:6 17:1 net:2 154:1 654:1 419:1 606:1 revs:2 517:1 699:1 374:1 108:1 year:1 28:1 56:1 821:1 979:1 1:3 368:1 591:1 650:1 657:1 285:1 473:1
|
BIOTECHNOLOGY DEVELOPMENT <BIOD> 4TH QTR LOSS
Shr loss five cts vs loss 17 cts
Net loss 154,654 vs loss 419,606
Revs 517,699 vs 374,108
Year
Shr loss 28 cts vs loss 56 cts
Net loss 821,979 vs loss 1,368,591
Revs 1,650,657 vs 1,285,473
|
training/5464
|
training/5464 |@title hechinger:1 co:1 hech:1 4th:1 qtr:1 net:1 |@word shr:4 primary:2 28:2 ct:8 vs:8 22:1 dilute:2 26:1 21:1 net:2 8:2 637:1 000:2 6:1 577:1 sale:2 140:1 3:2 mln:6 116:1 year:1 92:1 77:1 88:1 75:1 23:1 1:1 588:1 4:1 479:1
|
HECHINGER CO <HECH> 4TH QTR NET
Shr primary 28 cts vs 22 cts
Shr diluted 26 cts vs 21 cts
Net 8,637,000 vs 6,577,000
Sales 140.3 mln vs 116.8 mln
Year
Shr primary 92 cts vs 77 cts
Shr diluted 88 cts vs 75 cts
Net 28.3 mln vs 23.1 mln
Sales 588.4 mln vs 479 mln
|
training/5465
|
training/5465 |@title metex:1 mtx:1 chairman:1 sell:1 share:1 |@word metex:6 corp:1 say:5 chairman:1 chief:2 executive:2 officer:2 alan:1 cohen:1 sell:1 78:1 375:1 share:3 common:2 stock:2 metropolitan:4 consolidated:2 industries:1 inc:1 mony:1 company:4 selling:1 price:2 11:1 25:1 dlrs:1 per:1 option:1 industry:1 purchase:1 42:1 750:1 also:1 mason:1 carter:2 elect:1 president:3 operate:1 join:1 1982:1 formerly:1 vice:1 addition:1 attilio:1 petrocelli:1 name:1 fill:1 vacancy:1 board:1 director:1 21:1 pct:1
|
METEX <MTX> CHAIRMAN SELLS SHARES
Metex Corp said its chairman and
chief executive officer Alan Cohen sold 78,375 shares of Metex
common stock to Metropolitan Consolidated Industries Inc
<MONY>.
The company said the selling price was 11.25 dlrs per share
with an option for Metropolitan Consolidated Industries to
purchase up to 42,750 shares more at the same price.
Metex also said Mason Carter was elected president and
chief operating officer of the company. Carter joined Metex in
1982, where he was formerly its executive vice president.
In addition, Attilio Petrocelli, president of Metropolitan,
was named to fill a vacancy on the Metex board of directors,
the company said.
Metropolitan owns 21 pct of Metex common stock, the company
said.
|
training/5467
|
training/5467 |@title around:1 3:1 5:1 mln:1 acre:1 say:1 idle:1 0:2 92:2 |@word program:6 would:13 little:2 impact:3 u:1 acreage:5 prompt:1 farmer:3 idle:3 additional:3 3:2 5:3 mln:12 acre:8 cropland:1 every:1 year:3 accord:2 report:6 agriculture:1 department:1 saving:4 result:1 400:1 dlrs:3 loan:4 35:1 transportation:1 storage:1 10:2 20:2 per:1 deficiency:3 payment:4 say:11 usda:5 asssesse:1 propose:1 0:9 92:10 wheat:3 corn:4 cotton:3 sorghum:3 barley:3 last:1 almost:1 245:1 crop:3 harvest:1 likelihood:1 provisiion:1 cause:1 large:1 remove:1 production:8 quite:1 small:1 return:1 typical:1 farm:1 still:2 favor:1 participation:2 usual:1 reduction:1 seed:1 permit:1 allow:1 forego:1 planting:1 receive:1 pct:1 use:1 producer:4 high:4 risk:2 area:1 cost:6 keith:1 collins:2 director:1 economics:1 analysis:2 staff:1 heart:1 belt:1 get:2 much:1 estimate:1 one:1 ildle:1 1:1 500:3 000:3 equivalent:1 40:1 bushel:4 180:1 bale:1 determine:1 whether:1 participate:2 need:1 weigh:1 expected:1 cash:1 rate:3 market:1 price:1 may:1 rise:1 expect:1 level:1 reduce:1 also:2 must:1 consider:1 give:1 difference:2 collin:3 low:2 great:1 apply:1 pay:1 variable:1 cicumstance:1 want:1 go:1 along:1 attractive:1 incentive:1 admit:1 marginal:1 first:1 step:1 towards:1 goal:1 separate:1 decision:1 government:1 speech:1 earlier:1 today:1 national:1 grains:1 feed:1 association:1 secretary:1 richard:1 lyng:1 late:1 implement:1 1987:1 since:1 signup:1 end:1 month:1
|
AROUND 3.5 MLN ACRES SAID TO BE IDLED BY 0/92
A 0/92 program would have very
little impact on U.S. acreage, prompting farmers to idle only
an additional 3.5 mln acres of cropland every year, according
to a report from the Agriculture Department.
The savings resulting from the additional 3.5 mln acres
idled would be a little over 400 mln dlrs in loan savings, 35
mln dlrs in transportation and storage savings, and 10-20 mln
dlrs per year in deficiency payment savings, the report said.
The USDA report asssessed the impacts of the proposed 0/92
acreage program for wheat, corn, cotton, sorghum and barley.
Last year, almost 245 mln acres of those crops were harvested.
'The likelihood that the 0-92 provisiion will cause very
large acreages to be removed from crop production is quite
small,' the report said.
'The returns on typical farms still favor participation in
the usual acreage reduction programs and seeding the permitted
acreage,' the USDA report said.
The 0/92 program, which would allow farmers to forego
planting and still receive 92 pct of their deficiency payment,
would be most used by producers in high production/high risk
areas where cost of production is high, said Keith Collins,
director of USDA's economics analysis staff.
'In the heart of the corn belt, you would not get that much
participation,' Collins said.
USDA estimated that an additional one mln acres of wheat
would be ildled under 0/92, 1.5 mln acres of corn, 500,000
acres of sorghum and barley and 500,000 acres of cotton.
Production from these idled acres would be equivalent to 40
mln bushels of wheat, 180 mln bushels of corn, 20 mln bushels
of sorghum, 10 mln bushels of barley, and 500,000 bales of
cotton, the report said.
'In determining whether to participate, a producer would
need to weigh the expected cash costs of production against the
loan rate ... The risk that market prices may rise above the
expected levels and reduce the deficiency payment also must be
considered,' according to the analysis.
'What you're giving up under 0/92 is the difference between
the loan rate and the cost of production,' Collins said.
For producers with low production costs, that difference is
greater and can be applied to paying variable costs, he said.
Under these cicumstances, farmers would not want to go along
with 0/92. But for high cost producers, 0/92 would be more
attractive.
Also, as loan rates get lower, Collins said there would be
more incentives to participate in a 0/92 program.
'I would admit that its impacts would be very marginal at
first, but it is a step towards the goal of separating
production decisions from government payments,' Collins said.
In a speech earlier today before the National Grains and
Feed Association, USDA Secretary Richard Lyng said it is too
late to implement 0/92 for 1987 crops since program signup will
be over by the end of this month.
|
training/5469
|
training/5469 |@title american:1 security:1 asec:1 release:1 information:1 |@word american:2 security:1 corp:2 say:1 release:1 forthcoming:1 shortly:1 regard:1 pende:2 merger:1 maryland:1 national:1 mdnt:1 approve:1 stockholder:1 october:1 10:1 halt:1 nasdaq:1 news:1 announcement:1
|
AMERICAN SECURITY <ASEC> TO RELEASE INFORMATION
American Security Corp said a
release will be forthcoming shortly regarding its pending
merger with Maryland National Corp <MDNT>, approved by its
stockholders October 10.
American was halted on NASDAQ pending a news announcement.
|
training/547
|
training/547 |@title banner:1 bnr:1 complete:1 tender:1 rexnord:1 rex:1 |@word banner:1 industries:1 inc:2 say:3 19:1 8:1 mln:3 outstanding:1 20:1 share:3 rexnord:1 tender:1 pursuant:1 26:1 25:1 dlr:1 offer:1 close:2 midnight:1 est:1 feb:1 27:1 together:1 five:1 rexnard:2 already:1 company:2 hold:1 97:1 pct:1 stake:1 completion:1 deal:2 subject:1 approval:1 holder:1 closing:1 condition:1 expect:1 60:1 day:1
|
BANNER <BNR> COMPLETES TENDER FOR REXNORD <REX>
Banner Industries Inc said 19.8 mln of
the outstanding 20 mln shares in Rexnord Inc were tendered
pursuant to its 26.25 dlr a share offer that closed at midnight
EST Feb 27.
Together with the five mln Rexnard shares it already owns,
the company said it now holds a 97 pct stake in the company.
It said the completion of the deal is subject to approval
by Rexnard holders and to other closing conditions. It expects
the deal to close in about 60 days.
|
training/5470
|
training/5470 |@title svenska:1 cellulosa:1 ab:1 scab:1 st:1 1986:1 year:1 |@word group:1 profit:2 net:1 financial:1 item:1 1:2 39:1 billion:4 crown:4 vs:4 32:1 sale:1 15:1 22:1 12:1 61:1 per:1 share:1 20:1 50:1 19:1 60:1 propose:1 dividend:1 five:1 4:1 40:1
|
SVENSKA CELLULOSA AB <SCAB.ST> 1986 YEAR
Group profit after net financial items 1.39 billion crowns
vs 1.32 billion
Sales 15.22 billion crowns vs 12.61 billion
Profit per share 20.50 crowns vs 19.60
Proposed dividend five crowns vs 4.40
|
training/5471
|
training/5471 |@title colombia:1 coffee:1 exporter:1 believe:1 pragmatism:1 |@word private:1 coffee:9 exporter:2 say:15 colombia:10 pragmatic:1 marketing:2 policy:3 ensure:1 country:5 suffer:1 excessively:1 current:1 depressed:1 price:3 erratic:1 market:4 condition:2 gilberto:1 arango:7 president:1 exporters:1 association:1 interview:1 world:2 second:1 large:1 producer:2 position:1 withstand:1 prolonged:1 absence:1 international:1 organization:1 ico:3 export:12 quotas:1 one:2 benefit:1 situation:1 recent:2 talk:2 london:2 fail:1 break:1 deadlock:1 introduction:1 quota:2 suspend:1 february:1 1986:3 date:1 set:2 new:4 meeting:1 issue:1 government:2 measure:1 adopt:1 last:3 week:3 include:1 low:1 registration:3 indicate:1 major:1 change:2 also:2 disclose:1 welcome:1 pragmatism:1 start:1 era:1 lower:1 local:1 taxis:1 reintegro:1 often:1 order:1 closely:1 reflect:1 trend:1 illustration:1 attitude:1 decision:1 friday:1 open:1 unlimited:1 amount:1 add:1 imply:1 would:4 begin:1 heavy:1 selling:1 sell:2 without:2 haste:1 consistently:1 target:1 volume:1 react:1 factor:1 adequately:1 intention:1 give:1 away:1 past:1 record:2 basis:1 upcoming:1 certainly:1 seven:1 mln:9 60:1 kilo:1 bag:5 neither:1 go:1 like:2 mad:1 trade:1 know:1 full:1 well:1 potential:1 stockpile:1 stand:1 10:2 11:3 5:5 1985:1 86:1 year:2 end:1 september:1 3:1 calendar:1 want:1 commit:1 prediction:1 output:2 87:1 exceed:1 compare:1 12:2 forecast:1 national:2 growers:1 federation:2 u:1 department:1 agriculture:1 figure:1 ridiculous:1 age:1 plantation:1 rust:1 particular:1 number:1 produce:1 province:1 antioquia:1 mean:1 likely:1 fall:2 nationwide:1 estimate:1 rare:1 oscillate:1 9:1 failure:1 understandably:1 feel:1 frustrated:1 manage:1 force:1 compromise:1 jorge:1 cardena:1 manager:1 head:1 nation:1 delegation:1 blame:1 intransigence:1 big:1 name:1 however:1 colombian:2 finance:1 minister:1 cesar:1 gaviria:1 explicit:1 united:1 states:1 undoubtedly:1 great:1 political:2 pressure:1 come:1 revise:1 washington:1 take:1 account:1 many:1 ally:1 instance:1 central:1 america:1 sharp:1 revenue:1 far:1 reach:1 economic:1 consequence:1 rule:1 fresh:1 initiative:1 show:1 common:1 resolve:1 could:1 emerge:1 continuous:1 contact:1
|
COLOMBIA COFFEE EXPORTERS BELIEVE IN PRAGMATISM
Private coffee exporters say Colombia's
more pragmatic coffee marketing policy will ensure that the
country does not suffer excessively from current depressed
prices and erratic market conditions.
Gilberto Arango, president of the exporters' association,
said in an interview that Colombia, the world's second largest
producer, was in a position to withstand a prolonged absence of
International Coffee Organization (ICO) export quotas.
'Colombia is one of the countries that will benefit most
from this situation,' he said.
Recent ICO talks in London failed to break a deadlock over
re-introduction of export quotas, suspended in February 1986,
and no date has been set for a new meeting on the issue.
Arango said that government measures adopted here last
week, including a lower export registration price, indicated a
major change but also disclosed a welcome pragmatism.
'This is the start of a new era in Colombia because world
market conditions are also new,' he said.
The government lowered local taxes for exporters and said
the export registration price, or reintegro, will be changed
more often in order to closely reflect market trends.
Arango said an illustration of Colombia's new attitude was
the decision on Friday to open export registrations for an
unlimited amount.
But he added it did not imply the country would begin heavy
selling of coffee.
'Our marketing policy is to sell without haste but
consistently. No targets for volume will be set. We will react
to market factors adequately and Colombia has no intention of
giving its coffee away.'
Colombia's past records should be the basis for upcoming
exports, he said.
'We will certainly not export seven mln (60-kilo) bags but
neither are we going to sell like mad. The trade knows full
well what Colombia's export potential is,' he said.
Colombia, with stockpiles standing at about 10 mln bags,
exported a record 11.5 mln bags in the 1985/86 coffee year
which ended last September, and 11.3 mln in calendar 1986.
Arango did not want to commit himself on export predictions
but said that output for the 1986/87 coffee year would not
exceed 10.5 mln bags, compared with 12 mln forecast by the
National Coffee Growers' Federation and 12.5 mln by the U.S.
Department of Agriculture, a figure he said was 'ridiculous.'
He said ageing plantations and rust, in particular in the
number one producing province of Antioquia, meant output was
likely to fall but that nationwide estimates were rare and
oscillated between 9.5 mln and 11.5 mln bags.
On the failure of the recent ICO talks, Arango said
Colombia understandably felt frustrated at not having managed
to force a compromise.
Jorge Cardenas, manager of the national federation and head
of his nation's delegation in London, has blamed the
intransigence of some big countries, without naming them.
However, Arango, like Colombian Finance Minister Cesar
Gaviria last week, was more explicit and said the United States
would undoubtedly be under great political pressure in coming
weeks to revise its policy.
'Washington will have to take into account that for many
countries, and some of its allies for instance in Central
America, a sharp fall in coffee export revenue would have
far-reaching political and economic consequences.'
Arango ruled out a fresh Colombian initiative on export
quotas saying producers had now to show a common resolve which
could emerge from continuous contacts.
|
training/5472
|
training/5472 |@title belgian:1 government:1 cut:1 financial:1 requirement:1 |@word belgian:1 prime:1 minister:1 wilfrie:1 martens:2 announce:2 parliament:1 plan:2 reduce:2 1987:4 government:10 financing:2 requirement:4 20:1 6:1 billion:10 franc:8 say:5 enable:1 hold:2 419:1 7:1 previous:1 target:2 417:1 8:2 eight:1 pct:3 gross:1 national:1 product:1 marten:2 follow:1 lowering:1 estimate:2 nominal:1 gnp:2 growth:1 estimation:1 department:1 spend:1 calculate:1 unless:1 action:1 take:1 would:1 exceed:1 22:1 5:3 involve:1 raise:2 non:1 fiscal:1 receipt:1 spending:2 14:1 3:1 remain:1 0:2 treasury:1 operation:1 money:1 find:1 series:1 small:1 economy:1 confirm:1 include:1 raising:1 two:1 sale:1 part:1 50:1 gas:1 company:1 distrigaz:1 last:1 year:1 major:1 program:2 design:2 cut:1 195:1 get:1 belgium:1 snowball:1 effect:1 constantly:1 borrow:1 finance:1 budget:1 deficit:1 due:1 largely:1 cost:1 servicing:1 repay:1 exist:1 debt:1 1986:1 561:1 11:1
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BELGIAN GOVERNMENT TO CUT FINANCIAL REQUIREMENT
Belgian Prime Minister Wilfried
Martens announced to Parliament a plan to reduce the 1987
government financing requirement by 20.6 billion francs.
He said this will enable the requirement to be held to
419.7 billion francs, against the previous government target of
417.8 billion, or eight pct of gross national product.
Martens said following a lowering of government estimates
of 1987 nominal GNP growth and a re-estimation by government
departments of 1987 spending, the government calculated that
unless action was taken, the requirement would exceed the
target by 22.5 billion francs.
Martens said the plan involved raising non-fiscal receipts
by 5.8 billion francs and reducing spending by 14.3 billion.
The remaining 0.5 billion francs will be raised through
treasury operations.
Martens said the money is being found through a series of
small economies and confirmed that it includes the raising of
two billion francs through the sale of part of the government's
50 pct holding in the gas company Distrigaz.
Last year, the government announced a major program
designed to cut 1987 spending by 195 billion francs.
The program was designed to get Belgium out of what the
government said was a 'snowball effect' under which the
government constantly borrowed more to finance budget deficits
which were due largely to the cost of servicing and repaying
existing debt.
In 1986, the government financing requirement is estimated
at 561 billion francs or 11.0 pct of GNP.
|
training/5473
|
training/5473 |@title royal:1 trust:1 plot:1 aggressive:1 global:1 expansion:1 |@word royal:14 trustco:1 ltd:2 move:2 unique:1 among:1 canadian:8 trust:22 company:12 pursue:1 bold:1 global:5 expansion:1 could:1 someday:1 lift:1 foreign:4 share:4 yearly:1 earning:3 50:2 pct:7 president:2 michael:2 cornelissen:12 say:17 first:1 marathon:1 securities:1 financial:6 services:2 analyst:2 walsh:2 international:6 growth:7 target:1 attainable:1 tremendous:1 achievement:1 go:1 build:1 base:2 large:2 lot:1 significant:1 domestic:4 operation:2 make:1 22:1 154:1 mln:2 dlr:2 1986:1 net:1 profit:4 post:1 33:1 year:6 expect:1 15:1 jump:1 total:2 tell:1 reuters:1 interview:1 would:5 rise:1 26:1 1987:1 44:1 1990:1 canada:1 second:1 asset:4 19:1 54:1 billion:2 dlrs:2 operate:1 internationally:1 since:1 1929:1 open:2 london:3 bank:5 aggressive:1 strategy:2 begin:1 1980:2 equivalent:1 u:3 saving:1 loan:1 focus:1 retail:1 banking:4 overseas:3 ambition:1 whet:1 heighten:1 competition:3 impressive:1 attain:1 full:2 british:1 power:1 last:1 continental:1 europe:1 asia:3 239:1 acquisition:3 dow:5 chemical:1 co:1 corp:1 include:2 management:2 merchant:1 private:2 heaven:1 send:1 opportunity:3 achieve:1 one:3 otherwise:1 take:1 five:2 10:1 set:1 stress:2 shun:1 direct:1 major:1 institution:1 activity:2 lending:1 stock:2 brokerage:2 order:1 exploit:1 profitable:1 niche:1 traditional:1 advisory:1 service:4 hope:1 complete:1 negotiation:1 end:1 month:1 sell:1 savory:1 milln:1 acquire:1 deal:1 market:4 big:1 miniscule:1 really:1 limited:1 energy:1 desire:1 find:1 business:1 add:2 type:1 think:1 well:2 served:1 aid:1 great:1 investment:2 interest:1 north:1 america:1 increase:1 abroad:1 central:1 boast:1 rapid:1 economic:1 huge:1 pool:1 japanese:1 capital:1 whose:1 administer:1 71:1 85:1 cite:1 statistic:1 indicate:1 2000:1 contain:1 two:1 third:1 world:1 population:1 productive:1 capacity:1 know:1 14:1 location:1 office:1 tokyo:2 hong:1 kong:1 singapore:1 also:1 recently:1 list:1 exchange:1 within:1 unit:2 foresee:1 immediate:1 future:1 although:1 eye:1 wide:1 right:1 ask:1 plan:1 abandon:1 1983:1 sale:1 florida:1 face:1 cover:1 hundred:1 small:1 regional:1 mean:2 probably:2 area:1 something:1 next:1 continue:1 emphasize:1 home:1 agree:1 remain:1 vital:1 propose:1 government:1 regulation:1 allow:1 insurance:1 security:1 dealer:1 participation:1 another:1 actitivie:1 drastically:1
|
ROYAL TRUST PLOTS AGGRESSIVE GLOBAL EXPANSION
<Royal Trustco Ltd>, in a move unique
among Canadian trust companies, is pursuing a bold global
expansion that could someday lift the foreign share of its
yearly earnings to 50 pct, president Michael Cornelissen said.
First Marathon Securities Ltd financial services analyst
Michael Walsh said Royal Trust's international growth target is
attainable. But it 'will be a tremendous achievement because
... they're going to have to build an international earnings
base larger than the earnings of a lot of significant domestic
trust companies,' Walsh said.
Global operations, which made up 22 pct of Royal Trust's
154 mln dlr 1986 net profit, will post 33 pct profit growth
this year against an expected 15 pct jump in total company
profit, Cornelissen told Reuters in an interview.
He said the foreign share of total profit would rise to 26
pct in 1987 and to 44 pct by 1990.
Royal Trust, Canada's second largest trust company with
assets of about 19.54 billion Canadian dlrs, has operated
internationally since 1929 when it opened a London bank.
Its aggressive global strategy began in the 1980s, when
other Canadian trusts, the equivalent of U.S. savings and
loans, were focusing on domestic retail banking.
The company's overseas ambitions were whetted by heightened
domestic competition and impressive growth at its London bank
operations, which attained full British banking powers in 1980,
Cornelissen said.
Last year, Royal Trust moved into continental Europe and
Asia with its 239 mln Canadian dlr acquisition of Dow Chemical
Co <DOW>'s Dow Financial Services Corp, which included asset
management, merchant and private banking companies.
'It was a heaven-sent opportunity,' Cornelissen said of the
Dow Financial acquisition. 'We achieved in one year what would
otherwise have taken five to 10 years to set up.'
Cornelissen stressed that Royal Trust would shun direct
competition with major global financial institutions in
activities such as international lending and stock brokerage,
in order to exploit 'profitable niches' overseas in traditional
trust activities such as asset management, private banking and
advisory services.
He said that Royal Trust hoped to complete negotiations
'before the end of this month' to sell its London-based Savory
Milln brokerage, acquired in the Dow Financial deal.
'The international market is so big and we have such a
miniscule share of it that growth opportunities are really
limited only by our energy and our desire to find more
business,' he said, adding that in trust-type services, 'we
don't think the international markets are well-served.'
Aiding Royal Trust's foreign growth are greater foreign
investment interest in North America and increased Canadian
investment abroad, Cornelissen said.
Central to Royal Trust's strategy is Asia, boasting rapid
economic growth and huge pools of Japanese capital, said
Cornelissen, whose company administers assets of 71.85 billion
dlrs, more than any other Canadian trust.
Citing statistics indicating that by the year 2000, Asia
will contain two-thirds of the world's population and 50 pct of
global productive capacity, Cornelissen said, 'We knew we had
to be there.' Royal Trust's 14 international locations include
offices in Tokyo, Hong Kong and Singapore. The company also
recently listed its shares on the Tokyo Stock Exchange.
The Royal Trust president said the company was stressing
growth within its overseas units, adding he did not foresee any
acquisitions in the 'immediate future,' although 'we have our
eyes wide open for the right opportunities.'
Asked about Royal Trust's plans for the U.S., which the
company abandoned with the 1983 sale of its Florida bank units,
Cornelissen said the company faced a trust services market well
covered by hundreds of small regional banks.
'That doesn't mean to say we shouldn't be in the U.S.,'
said Cornelissen. 'That is probably one area that we will
probably do something with in the next five years.'
He said the company would continue to emphasize its home
Canadian market, which Cornelissen and financial services
analysts agreed would remain vital to Royal Trust.
Proposed government regulations to allow Canadian banks,
trusts, insurance and securities dealers full participation in
one another's actitivies will mean more domestic competition
for Royal Trust, 'but not drastically more,' Cornelissen said.
|
training/5474
|
training/5474 |@title salomon:1 raise:1 caterpillar:1 cat:1 opinion:1 |@word salomon:2 brothers:1 inc:2 say:5 raise:2 opinion:1 caterpillar:2 stock:2 aggressive:1 buy:1 hold:1 bright:1 earning:3 outlook:2 1988:3 analyst:1 david:1 sutliff:2 statement:1 see:1 3:1 35:1 dlrs:4 share:2 early:1 forecast:1 three:2 year:1 1987:1 remain:1 2:2 50:1 1:2 point:1 46:1 4:1 although:1 poor:1 next:1 two:1 quarter:1 believe:1 profit:1 could:1 begin:1 improve:4 second:1 half:1 perhaps:1 significantly:1 surge:1 sharply:1 1989:1 result:1 come:1 four:1 factor:1 high:2 price:3 market:1 reduce:1 cost:1 demand:1 stick:1 japanese:1 competitor:1 komatsu:1 increase:1 value:1 yen:1
|
SALOMON RAISES CATERPILLAR <CAT> OPINION
Salomon Brothers Inc said it raised
its opinion on Caterpillar Inc's stock to an aggressive buy
from a hold because of a brighter earnings outlook for 1988.
Salomon analyst David Sutliff said in a statement he sees
1988 earnings of 3.35 dlrs a share, up from an earlier forecast
of three dlrs for the year. The outlook for 1987 remains at
2.50 dlrs to three dlrs.
Caterpillar's stock was down 1/2 points at 46-1/4.
'Although earnings will be poor for the next two quarters,
we believe that profits could begin to improve in the second
half - perhaps significantly - and should surge sharply through
1988 and 1989,' he said.
Sutliff said improved results should come from four factors
- higher prices, improved market share, reduced costs, and
improved demand.
The higher prices will stick because its Japanese
competitor, Komatsu, has had to raise prices because of the
increased value of the yen, he said.
|
training/5475
|
training/5475 |@title rockwood:1 holding:1 co:1 rkwd:1 4th:1 qtr:1 net:1 |@word shr:2 profit:4 78:1 ct:4 vs:6 loss:4 38:1 net:2 3:1 108:1 000:2 1:2 510:1 revs:2 35:1 5:1 mln:6 47:1 year:1 2:4 42:1 dlrs:2 01:1 9:1 6:1 eight:1 157:1 182:1 note:1 include:1 extraordinary:1 gain:1 22:1 per:1 share:1 36:1 fourth:1 quarter:1 1986:1 respectively:1
|
ROCKWOOD HOLDING CO <RKWD> 4TH QTR NET
Shr profit 78 cts vs loss 38 cts
Net profit 3,108,000 vs loss 1,510,000
Revs 35.5 mln vs 47.1 mln
Year
Shr profit 2.42 dlrs vs loss 2.01 dlrs
Net profit 9.6 mln vs loss eight mln
Revs 157.2 mln vs 182.2 mln
NOTE: Includes extraordinary gains of 22 cts per share and
36 cts in the fourth quarter and 1986, respectively.
|
training/5476
|
training/5476 |@title canada:2 prime:2 minister:2 say:2 major:2 trade:2 deal:2 emerge:2 u:2 |@word
|
CANADA PRIME MINISTER SAYS A MAJOR TRADE DEAL EMERGING WITH U.S.
CANADA PRIME MINISTER SAYS A MAJOR TRADE DEAL EMERGING WITH U.S.
|
training/5477
|
training/5477 |@title forum:1 four:1 end:1 beverly:1 bev:1 purchase:1 deal:1 |@word forum:1 group:1 inc:1 say:1 terminate:1 agreement:2 principle:1 buy:1 eight:1 retirement:1 living:1 center:1 six:1 state:1 beverly:1 enterprise:1 due:1 failure:1 reach:1 satisfacotry:1 definitive:1
|
FORUM <FOUR> ENDS BEVERLY <BEV> PURCHASE DEAL
Forum Group Inc said it has
terminated its agreement in principle to buy eight retirement
living centers in six states from Beverly Enterprises due to a
failure to reach a satisfacotry definitive agreement.
|
training/548
|
training/548 |@title mutual:1 omaha:1 interest:1 share:1 muo:1 qtly:1 div:1 |@word qtly:1 div:1 36:2 ct:2 vs:1 prior:1 pay:1 april:1 one:1 record:1 march:1 13:1
|
MUTUAL OF OMAHA INTEREST SHARES <MUO> QTLY DIV
Qtly div 36 cts vs 36 cts prior
Pay April one
Record March 13
|
training/5481
|
training/5481 |@title 7:1 000:1 miner:1 go:1 strike:1 south:1 africa:1 |@word 7:1 000:3 black:1 miner:1 go:1 strike:1 south:1 african:1 gold:2 coal:1 mine:2 national:1 union:2 mineworkers:1 num:3 say:4 spokesman:1 6:1 worker:1 begin:1 underground:1 sit:1 grootvlei:1 general:1 mining:1 corp:2 protest:1 transfer:1 colleague:1 different:1 job:1 1:1 employee:1 anglo:1 american:1 new:1 vaal:1 colliery:1 also:1 tool:1 reason:1 stoppage:1 immediately:1 clear:1 official:1 two:1 company:1 available:1 comment:1 try:1 start:1 negotiation:1 management:1
|
SOME 7,000 MINERS GO ON STRIKE IN SOUTH AFRICA
Some 7,000 black miners went on
strike at South African gold and coal mines, the National Union
of Mineworkers (NUM) said.
A NUM spokesman said 6,000 workers began an underground
sit-in at the Grootvlei gold mine, owned by General Union
Mining Corp, to protest the transfer of colleagues to different
jobs.
He said about 1,000 employees of Anglo American Corp's New
Vaal Colliery also downed tools but the reason for the stoppage
was not immediately clear. Officials of the two companies were
not available for comment and the NUM said it was trying to
start negotiations with management.
|
training/5483
|
training/5483 |@title fbx:1 corp:1 fbxc:1 year:1 nov:1 30:1 net:1 |@word shr:1 11:2 ct:2 vs:3 three:1 net:1 313:1 000:2 80:1 revs:1 12:1 5:1 mln:2 3:1
|
FBX CORP <FBXC> YEAR NOV 30 NET
Shr 11 cts vs three cts
Net 313,000 vs 80,000
Revs 12.5 mln vs 11.3 mln
|
training/5485
|
training/5485 |@title u:2 capacity:1 use:1 rate:1 79:1 8:1 pct:1 february:1 |@word factory:1 mine:1 utility:2 operate:2 79:7 8:3 pct:25 capacity:5 february:8 compare:1 revise:1 6:3 january:12 december:3 federal:1 reserve:1 board:1 say:5 fed:4 previously:1 rate:5 7:3 5:3 surge:1 automobile:1 assembly:1 gain:1 primary:2 metal:3 production:1 help:1 raise:1 manufacturing:3 80:5 1:2 9:2 durable:2 increase:2 76:2 last:3 month:3 3:2 nondurable:1 ease:1 85:2 2:3 use:3 4:4 1986:3 fabricate:1 81:2 motor:1 vehicle:1 part:1 jump:1 83:1 0:1 rise:2 67:1 66:1 petroleum:1 product:1 fall:1 92:1 94:1 utilization:1 mining:1 75:2 producer:2 industrial:2 material:4 78:1 decline:2 energy:1 good:1 reason:1 past:1 year:1
|
U.S. CAPACITY USE RATE 79.8 PCT IN FEBRUARY
U.S. factories, mines and utilities
operated at 79.8 pct of capacity in February, compared with a
revised 79.6 pct in January and December, the Federal reserve
Board said.
The Fed previously said the rate was 79.7 pct in January
and 79.5 pct in December.
A surge in automobile assemblies in February and a gain in
primary metals production helped raise manufacturing to 80.1
pct capacity from 79.9 pct in January.
Durables manufacturing increased to 76.8 pct last month
from 76.3 pct in January, the Fed said.
Nondurable manufacturing eased to 85.2 pct of capacity use
from 85.4 pct in January.
Last month's rate was down from 80.2 pct in February, 1986.
Fabricated metals increased to 81.4 pct in February from
81.2 pct in January, while motor vehicles and parts jumped to
83.6 pct from 80.0 in January.
Primary metals rose to 67.7 pct from 66.7 pct in January.
Petroleum products fell to 92.5 pct in February from 94.5
pct in January.
Capacity utilization for mining rose to 75.3 pct in
February from 75.1 pct in January, but was below the February
1986 rate of 79.4 pct, the Fed said.
The use rate for utilities was up to 80.8 pct last month
from 80.4 pct in January.
Producers of industrial materials operated at 78.9 pct of
capacity, the same as in January and December, but down from
the February 1986 rate of 79.6 pct.
The Fed said the decline in energy materials use and
durables goods materials were the reason for the decline over
the past year for producers of industrial materials.
|
training/5487
|
training/5487 |@title union:1 vote:1 strike:1 dakota:1 city:1 ibp:1 plant:1 |@word united:1 food:1 commercial:1 workers:1 union:5 local:1 222:1 say:3 member:2 vote:1 sunday:1 strike:1 iowa:1 beef:1 processors:1 inc:1 dakota:1 city:1 neb:1 plant:1 effective:1 tuesday:2 company:2 submit:2 late:3 offer:2 time:1 announce:1 would:1 end:1 lockout:1 start:1 december:1 14:1 unanimously:1 reject:1 last:1 week:1 ufcw:1 spokesman:1 allen:1 zack:1
|
UNION VOTES TO STRIKE DAKOTA CITY IBP PLANT
The United Food and Commercial Workers
union, Local 222 said its members voted Sunday to strike the
Iowa Beef Processors Inc Dakota City, Neb., plant, effective
Tuesday.
The company said it submitted its latest offer to the union
at the same time announcing that on Tuesday it would end a
lockout that started December 14.
Union members unanimously rejected the latest company offer
that was submitted to the union late last week, UFCW union
spokesman Allen Zack said.
|
training/5490
|
training/5490 |@title |@word balladur:2 maintain:2 1987:2 2:2 5:2 pct:4 inflation:2 target:2 february:2 3:2 4:2 year:4
|
Balladur maintains 1987 2.5 pct inflation target after February 3.4 pct year-on-year
Balladur maintains 1987 2.5 pct inflation target after February 3.4 pct year-on-year
|
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