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training/5635
|
training/5635 |@title ccc:1 credit:1 guarantee:1 algeria:1 usda:1 |@word commodity:1 credit:4 corporation:1 ccc:2 approve:1 additional:2 84:1 0:6 mln:5 dlrs:5 guarantee:5 sale:4 u:3 agricultural:2 product:2 algeria:2 fiscal:2 year:1 1987:3 export:1 program:2 gsm:1 102:1 agriculture:1 department:2 say:4 provide:1 31:2 coverage:1 protein:1 meal:1 9:1 tallow:1 44:1 vegetable:1 oil:1 late:1 increase:1 cumulative:1 464:1 380:1 eligible:1 must:1 register:1 september:1 30:1 shipment:1 complete:1 december:1
|
MORE CCC CREDIT GUARANTEES FOR ALGERIA -- USDA
The Commodity Credit Corporation
(CCC) has approved an additional 84.0 mln dlrs in credit
guarantees for sales of U.S. agricultural products to Algeria
for fiscal year 1987 under the Export Credit Guarantee Program
(GSM-102), the U.S. Agriculture Department said.
The department said the additional guarantees provide up to
31.0 mln dlrs in coverage for sales of protein meals, 9.0 mln
dlrs for tallow, and 44.0 mln dlrs for vegetable oils.
The latest guarantees increase the cumulative fiscal 1987
program for sales of U.S. agricultural products to Algeria to
464.0 mln dlrs from 380.0, it said.
To be eligible for the credit guarantees, all sales must be
registered with the CCC by September 30, and shipments
completed by December 31, 1987, it said.
|
training/5636
|
training/5636 |@title pl:1 480:1 commodity:1 hondura:1 usda:1 |@word united:1 states:1 sign:2 public:1 law:1 480:1 agreement:2 hondura:1 provide:2 sale:3 12:1 0:2 mln:4 dlrs:4 worth:4 u:3 agricultural:1 commodity:2 agriculture:1 department:2 say:2 march:1 11:1 75:1 000:3 tonne:3 wheat:2 flour:1 8:1 5:2 15:1 corn:1 sorghum:1 1:1 6:1 tallow:1 2:1 supply:1 current:1 fiscal:1 year:1 end:1 september:1 30:1 private:1 trader:1 competitive:1 bid:1 basis:1 purchase:1 authorization:1 announce:1 issue:1
|
PL 480 COMMODITIES FOR HONDURAS -- USDA
The United States has signed a
Public Law 480 agreement with Honduras to provide for the sale
of 12.0 mln dlrs worth of U.S. agricultural commodities, the
U.S. Agriculture Department said.
The agreement, signed March 11, provides for the sale of
about 75,000 tonnes of wheat/wheat flour worth 8.5 mln dlrs,
15,000 tonnes of corn/sorghum worth 1.5 mln dlrs and 6,000
tonnes of tallow worth 2.0 mln dlrs, the department said.
The commodities will be supplied in the current fiscal
year, ending September 30, and sales will be by private U.S.
traders on a competitive bid basis.
Purchase authorizations will be announced as issued.
|
training/5637
|
training/5637 |@title u:2 exporter:2 report:2 150:2 000:2 tonne:2 corn:2 sell:2 unknown:2 destination:2 1986:2 87:2 |@word
|
U.S. EXPORTERS REPORT 150,000 TONNES CORN SOLD TO UNKNOWN DESTINATIONS FOR 1986/87
U.S. EXPORTERS REPORT 150,000 TONNES CORN SOLD TO UNKNOWN DESTINATIONS FOR 1986/87
|
training/5639
|
training/5639 |@title sens:1 danforth:1 bond:1 ask:1 target:1 0:1 92:1 measure:1 |@word missouri:2 republican:1 senators:1 john:1 danforth:2 christopher:1 bond:1 introduce:1 bill:3 would:1 allow:1 wheat:1 feedgrain:1 producer:1 along:2 mississippi:1 river:2 hurt:1 flood:1 last:2 year:3 collect:1 least:1 92:1 pct:1 deficiency:1 payment:1 without:1 plant:1 aide:1 austin:1 schlick:2 say:2 similar:1 provision:1 include:1 house:2 agriculture:1 committee:1 pass:1 emergency:1 disaster:1 assistance:1 schedule:1 take:1 tomorrow:1 flooding:1 destroy:1 number:1 levee:1 two:1 october:1 leave:1 farmland:1 vulnerable:1 damage:1
|
SENS. DANFORTH, BOND ASK TARGETED 0/92 MEASURE
Missouri Republican Senators John
Danforth and Christopher Bond have introduced a bill that would
allow wheat and feedgrain producers along the Mississippi and
Missouri Rivers hurt by flooding last year to collect at least
92 pct of their deficiency payments this year without planting.
Danforth aide Austin Schlick said the bill was similar to a
provision included in a House Agriculture Committee-passed
emergency disaster assistance bill scheduled to be taken up by
the House tomorrow.
Schlick said flooding destroyed a number of levees along
the two rivers last October, leaving farmland there vulnerable
to further damage this year.
|
training/5640
|
training/5640 |@title ccc:1 accept:1 bonus:1 bid:1 barley:1 cyrpus:1 |@word commodity:2 credit:1 corporation:1 ccc:2 accept:1 bid:1 export:2 bonus:3 cover:1 sale:1 8:1 000:2 tonne:3 barley:3 cyprus:2 u:2 agriculture:1 department:3 say:3 shipment:1 may:1 5:1 20:1 39:1 32:1 dlrs:1 per:1 make:1 harvest:1 state:1 cooperative:1 pay:1 form:1 inventory:1 stock:1 additional:1 42:1 still:1 available:1 enhancement:1 program:1 initiative:1 announce:1 august:1 26:1 1986:1
|
CCC ACCEPTS BONUS BID ON BARLEY TO CYRPUS
The Commodity Credit Corporation
(CCC) has accepted a bid on an export bonus to cover the sale
of 8,000 tonnes of barley to Cyprus, the U.S. Agriculture
Department said.
The barley is for shipment May 5-20 and the bonus of 39.32
dlrs per tonne was made to Harvest States Cooperatives, the
department said.
The bonus will be paid in the form of commodities from the
inventory of CCC stocks.
The department said an additional 42,000 tonnes of U.S.
barley are still available to Cyprus under the Export
Enhancement Program initiative announced on August 26, 1986.
|
training/5641
|
training/5641 |@title lynch:1 corp:1 lgl:1 unit:1 buy:1 television:1 station:1 |@word lynch:3 corp:2 subisidiary:1 entertainment:2 say:4 form:1 general:1 partnership:1 call:1 coronet:1 communication:1 co:1 acquire:1 whbf:1 tv:1 station:2 rock:1 island:1 ill:1 company:2 price:1 cbs:1 television:2 network:1 affiliate:1 20:1 mln:1 dlrs:1 also:1 partner:1 lombardo:2 communications:1 inc:1 wholly:1 corporation:1 phillip:1 pursue:1 acquisition:1 medium:1 entity:1 emphasis:1 broadcasting:1 cable:1 operation:1
|
LYNCH CORP <LGL> UNIT BUYS TELEVISION STATION
Lynch Corp subisidiary Lynch
Entertainment Corp said it formed a general partnership called
Coronet Communications Co, which has acquired WHBF-TV station,
in Rock Island, Ill.
The company said the price for the station, a CBS
television network affiliate, was 20 mln dlrs. The company also
said the other partner is Lombardo Communications Inc, a
wholly-owned corporation of Phillip Lombardo.
Lynch said it will pursue further acquisitions of media and
entertainment entities with emphasis on broadcasting and cable
television operations.
|
training/5643
|
training/5643 |@title schlumberger:1 slb:1 end:1 pact:1 sell:1 fairchild:1 |@word schlumberger:5 ltd:3 say:5 terminate:1 agreement:2 principle:1 fujitsu:2 buy:1 80:1 pct:1 fairchild:5 semiconductor:3 operation:1 company:5 rise:1 political:1 controversy:1 u:6 concern:3 venture:1 make:1 unlikely:1 sale:7 stake:2 could:2 complete:1 within:2 reasonable:1 time:1 oppose:1 commerce:2 department:3 defense:1 part:1 national:1 security:1 ground:1 termination:1 open:1 possibility:1 include:1 possible:1 leveraged:1 buyout:1 maker:2 management:1 interim:1 would:2 continue:1 ongoing:1 business:1 oilfield:2 service:2 last:1 october:1 announce:3 take:1 200:2 mln:2 dlrs:4 charge:2 fourth:2 quarter:2 end:1 record:1 special:1 2:2 1:1 billion:2 lead:1 loss:1 02:1 year:1 never:1 price:1 industry:1 analyst:1 estimate:1 value:1 deal:1 propose:1 antitrust:1 review:1 justice:1 additionally:1 secretary:1 malcolm:1 baldridge:1 official:2 voice:1 reservation:1 transaction:1 since:1 government:1 express:1 reduce:1 competitiveness:1 chip:1 put:1 key:1 advanced:1 technology:2 japanese:1 hand:1 new:2 high:1 use:1 supercomputer:1 fast:1 powerful:1 exist:1 computer:2 control:1 french:1 interest:1 headquarter:1 york:1 telecommunication:1 base:1 japan:1
|
SCHLUMBERGER <SLB> ENDS PACT TO SELL FAIRCHILD
Schlumberger Ltd said it terminated an
agreement in principle for Fujitsu Ltd to buy 80 pct of its
Fairchild Semiconductor operations.
The company said the rising political controversy in the
U.S. concerning the venture made it unlikely that the sale of
the Fairchild stake could be completed within a reasonable
time.
The sale has been opposed by the U.S. Commerce Department
and the U.S. Defense Department, in part on national security
grounds.
The company said termination of the agreement opened other
possibilities, including a possible leveraged buyout of the
semiconductor maker by Fairchild management.
In the interim, Fairchild would continue its ongoing
business within Schlumberger, the oilfield services concern
said.
Last October, Schlumberger announced the sale of the
Fairchild stake and said it would take a 200 mln dlrs charge in
the fourth quarter from the sale. The company ended up
recording special charges of 2.1 billion dlrs in the fourth
quarter, leading to a loss of 2.02 billion dlrs for the year.
Schlumberger never announced a price for the sale, but
industry analysts have estimated the value of the deal at about
200 mln dlrs.
The proposed sale was under antitrust review by the U.S.
Justice Department. Additionally, Commerce Secretary Malcolm
Baldridge and other U.S. officials have voiced reservations
about the transaction since it was announced.
Government officials have expressed concern that the sale
could reduce the competitiveness of U.S. chip makers by putting
key advanced technology into Japanese hands.
New, high-technology semiconductors are used in
supercomputers, which are faster and more powerful than
existing computers.
Schlumberger is an oilfield services company controlled by
French interests and headquartered in New York. Fujitsu Ltd is
a computer and telecommunications company based in Japan.
|
training/5644
|
training/5644 |@title henley:1 group:1 heng:1 set:1 fisher:1 distribution:1 |@word henley:2 group:2 inc:2 say:3 declare:1 special:1 dividend:1 distribution:2 one:2 fisher:4 scientific:1 share:4 every:2 16:1 previously:1 would:1 pay:1 20:2 outstanding:2 change:1 ratio:1 reduction:1 109:1 mln:2 129:1 pct:1 common:1 stock:1 make:1 april:1 six:1 holder:1 record:1 march:1 26:1 trade:1 nasdaq:1 symbol:1 fshg:1
|
HENLEY GROUP <HENG> SETS FISHER DISTRIBUTION
Henley Group Inc said it
declared a special dividend distribution of one Fisher
Scientific Group Inc share for every 16 Henley shares.
Previously, it said it would pay one fisher share for every
20 outstanding, but it changed the ratio because of the
reduction in its outstanding shares to 109 mln from 129 mln.
It said the distribution of about 20 pct of Fisher's common
stock will be made April six to holders of record March 26.
Fisher will trade on NASDAQ under the symbol <FSHG>.
|
training/5647
|
training/5647 |@title gencorp:1 gy:1 1st:1 qtr:1 operate:1 earning:1 rise:1 |@word gencorp:2 say:2 first:1 quarter:2 earning:1 operation:1 rise:1 four:1 pct:2 sale:3 increase:2 six:1 650:1 mln:5 dlrs:5 614:1 year:4 earlier:2 however:1 company:1 report:1 net:2 income:1 decline:1 17:1 77:1 ct:2 share:1 end:1 february:1 28:1 19:1 84:1 include:1 700:1 000:1 asset:1 last:1 3:1 0:1 low:1 operating:1 profit:1 tire:1 plastic:1 industrial:1 product:1 segment:1 essentially:1 offset:1 high:1 wallcovering:1 result:1
|
GENCORP <GY> 1ST QTR OPERATING EARNINGS ROSE
GenCorp said its first quarter
earnings from operations rose four pct as sales increased six
pct to 650 mln dlrs from 614 mln a year earlier.
However, the company reported net income declined to 17 mln
dlrs, or 77 cts a share, in the quarter ended February 28 from
19 mln dlrs, or 84 cts a year earlier. This year's net included
700,000 dlrs from the sale of assets while last years was
increased 3.0 mln dlrs by such sales.
GenCorp said lower operating profits for the tire and
plastics and industrial products segments were essentially
offset by higher wallcovering results.
|
training/5648
|
training/5648 |@title new:1 eep:1 durum:1 wheat:1 offer:1 algeria:1 usda:1 u:1 |@word exporter:2 opportunity:1 sell:1 additional:1 300:2 000:2 tonne:2 u:4 durum:2 wheat:2 algeria:2 export:3 enhancement:2 program:1 eep:1 agriculture:1 department:3 say:4 sale:1 subsidize:1 commodity:2 credit:1 corporation:1 ccc:1 inventory:1 subsidy:1 enable:1 compete:1 commercial:1 price:1 algerian:1 market:1 already:1 purchase:1 previous:1 initiative:2 announce:1 november:1 10:1 1986:1 detail:1 late:1 include:1 invitation:1 offer:1 issue:1 near:1 future:1
|
NEW EEP DURUM WHEAT OFFER TO ALGERIA -- USDA
U.S. exporters will have the
opportunity to sell an additional 300,000 tonnes of U.S. durum
wheat to Algeria under the Export Enhancement Program, EEP, the
U.S. Agriculture Department said.
The department said the sales will be subsidized with
commodities from the Commodity Credit Corporation, CCC,
inventory and the subsidy will enable U.S. exports to compete
at commercial prices in the Algerian market.
Algeria has already purchased 300,000 tonnes of U.S. durum
wheat under a previous export enhancement initiative announced
November 10, 1986, it said.
Details of the latest initiative, including an invitation
for offers from exporters, will be issued in the near future,
the department said.
|
training/5650
|
training/5650 |@title mccormick:1 co:1 inc:1 mccrk:1 1st:1 qtr:1 feb:1 28:1 net:1 |@word shr:1 37:1 ct:2 vs:3 35:1 net:1 4:2 346:1 000:2 202:1 revs:1 232:1 0:1 mln:2 223:1 2:1
|
MCCORMICK AND CO INC <MCCRK> 1ST QTR FEB 28 NET
Shr 37 cts vs 35 cts
Net 4,346,000 vs 4,202,000
Revs 232.0 mln vs 223.2 mln
|
training/5652
|
training/5652 |@title twa:2 say:2 intend:2 seek:2 control:2 usair:2 acquire:2 stock:2 time:2 |@word
|
TWA SAID IT DOES NOT INTEND TO SEEK CONTROL OF USAIR, ACQUIRE MORE STOCK AT THIS TIME
TWA SAID IT DOES NOT INTEND TO SEEK CONTROL OF USAIR, ACQUIRE MORE STOCK AT THIS TIME
|
training/5654
|
training/5654 |@title telequest:1 inc:1 telq:1 4th:1 qtr:1 dec:1 31:1 loss:1 |@word shr:2 loss:2 nine:1 ct:4 vs:8 profit:6 35:1 net:2 299:1 000:6 1:2 025:1 sale:2 9:2 704:1 659:1 avg:2 shrs:2 3:2 792:1 138:4 2:2 892:2 year:1 one:1 58:1 45:1 705:1 25:1 4:1 mln:2 17:1 8:1 567:1
|
TELEQUEST INC <TELQ> 4TH QTR DEC 31 LOSS
Shr loss nine cts vs profit 35 cts
Net loss 299,000 vs profit 1,025,000
Sales 9,704,000 vs 9,659,000
Avg shrs 3,792,138 vs 2,892,138
Year
Shr profit one ct vs profit 58 cts
Net profit 45,000 vs profit 1,705,000
Sales 25.4 mln vs 17.8 mln
Avg shrs 3,567,138 vs 2,892,138
|
training/5655
|
training/5655 |@title u:2 eep:1 veg:1 oil:1 proposal:1 still:1 review:1 |@word agriculture:1 department:1 proposal:4 offer:2 260:1 000:3 tonne:3 subsidized:1 vegetable:2 oil:2 four:2 country:2 still:2 consideration:1 interagency:3 trade:2 policy:2 group:4 usda:3 official:3 close:1 say:3 ask:1 identify:1 dismiss:1 report:1 circulate:1 market:1 today:1 review:2 reject:1 would:1 export:1 enhancement:1 program:1 eep:1 include:1 80:1 turkey:1 60:1 algeria:1 morocco:1 tunisia:1 industry:1 source:1 working:1
|
U.S. EEP VEG OIL PROPOSALS STILL UNDER REVIEW
U.S. Agriculture Department
proposals to offer 260,000 tonnes of subsidized vegetable oil
to four countries are still under consideration by an
interagency trade policy group, a USDA official close to the
group said.
The official, who asked not to be identified, dismissed a
report circulating in markets today that the interagency trade
policy review group had rejected the proposals.
Under the proposals, USDA would offer vegetable oil under
the export enhancement program, EEP, to four countries,
including 80,000 tonnes to Turkey and 60,000 tonnes to Algeria,
Morocco and Tunisia, industry sources said.
The proposals 'are still under review' by the interagency
working group, the USDA official said.
|
training/5657
|
training/5657 |@title amcast:1 industrial:1 corp:1 acst:1 2nd:1 qtr:1 net:1 |@word qtr:2 end:1 march:1 one:1 shr:2 profit:4 10:1 ct:3 vs:8 loss:4 2:2 20:1 net:2 687:1 000:6 14:1 5:2 mln:7 revs:2 68:1 3:2 54:1 8:2 avg:2 shrs:2 7:1 018:1 6:3 577:1 six:1 mth:1 38:1 1:1 95:1 596:1 12:1 129:1 9:1 113:1 964:1 568:1 note:1 figure:1 year:1 prior:1 include:1 pre:1 tax:1 restructuring:1 charge:1 22:1
|
AMCAST INDUSTRIAL CORP <ACST> 2ND QTR NET
Qtr ends March One
Shr profit 10 cts vs loss 2.20 cts
Net profit 687,000 vs loss 14.5 mln
Revs 68.3 mln vs 54.8 mln
Avg shrs 7,018,000 vs 6,577,000
Six mths
Shr profit 38 cts vs loss 1.95
Net profit 2,596,000 vs loss 12.8 mln
Revs 129.9 mln vs 113.3 mln
Avg shrs 6,964,000 vs 6,568,000
NOTE: figures for qtr and year prior include pre-tax
restructuring charge of 22.5 mln.
|
training/5658
|
training/5658 |@title chicago:1 dock:2 canal:1 3rd:1 qtr:1 net:1 |@word period:1 end:1 jan:1 31:1 shr:2 16:1 ct:3 vs:4 10:1 net:2 901:1 000:5 562:1 nine:2 mth:1 1:3 77:1 dlrs:3 19:1 9:1 886:1 122:1 note:1 full:1 name:1 chicago:1 dock:1 canal:1 trust:1 1987:1 month:1 earning:1 include:1 gain:1 disposition:1 real:1 estate:1 7:1 666:1 33:1 share:1
|
CHICAGO DOCK AND CANAL <DOCKS> 3RD QTR NET
Period ended Jan 31
Shr 16 cts vs 10 cts
Net 901,000 vs 562,000
Nine mths
Shr 1.77 dlrs vs 19 cts
Net 9,886,000 vs 1,122,000
NOTE: Full name is Chicago Dock and Canal Trust
1987 nine months earnings include gain from dispositions of
real estate of 7,666,000 dlrs, or 1.33 dlrs a share
|
training/5659
|
training/5659 |@title mcgraw:1 hill:1 mhp:1 buy:1 harper:1 row:1 hpr:1 unit:1 |@word mcgraw:2 hill:2 inc:2 say:3 buy:1 medecine:1 et:1 sciences:1 internationale:1 sa:1 french:3 healthcare:1 publisher:1 harper:1 row:1 publishers:1 sum:1 deal:1 disclose:1 company:2 publish:1 original:1 title:1 author:1 well:1 translation:1 american:1 british:1 german:1 medical:1 book:1 consolidate:1 france:1
|
MCGRAW HILL <MHP> BUYS HARPER/ROW <HPR> UNIT
McGraw-Hill Inc said it bought
<Medecines et Sciences Internationales SA>, a French Healthcare
publisher, from Harper and Row Publishers Inc.
The sum of the deal was not disclosed.
It said the French company publishes original titles by
French authors, as well as translations of American, British
and German Medical books. The company will be consolidated with
McGraw-Hill France, it said.
|
training/5660
|
training/5660 |@title infinite:1 graphics:1 infg:1 see:1 high:1 4th:1 qtr:1 |@word infinite:1 graphics:1 inc:1 expect:1 earning:1 fourth:1 quarter:1 end:1 april:1 30:1 exceed:2 127:1 587:1 dlrs:3 seven:1 ct:1 share:1 post:1 year:3 ago:1 chairman:1 clifford:1 f:1 stritch:2 jr:1 tell:1 meeting:1 financial:1 analyst:1 also:1 say:2 company:2 annual:1 revenue:1 6:1 0:1 mln:2 4:1 1:1 previous:1 fiscal:2 market:1 advanced:1 computer:1 aid:1 engineering:1 design:1 manufacturing:1 system:1 plan:1 double:1 dealer:1 50:1 come:1
|
INFINITE GRAPHICS <INFG> SEES HIGHER 4TH QTR
Infinite Graphics Inc expects earnings
for the fourth quarter ending April 30 to exceed the 127,587
dlrs, or seven cts a share posted a year ago, Chairman Clifford
F. Stritch Jr. told a meeting of financial analysts.
Stritch also said the company's annual revenues should
exceed 6.0 mln dlrs, up from 4.1 mln dlrs in the previous
fiscal year.
He said the company, which markets advanced computer-aided
engineering, design and manufacturing systems, plans to double
its dealers to 50 during the coming fiscal year.
|
training/5661
|
training/5661 |@title suburban:1 bancorp:1 subba:1 unit:1 win:1 judgment:1 |@word suburban:4 bancorp:3 say:2 cook:1 county:1 circuit:1 court:1 rule:1 favor:1 one:1 company:1 bartlett:3 formerly:1 state:2 bank:4 claim:2 six:1 former:2 director:2 barlett:1 breach:1 fiduciary:1 duty:1 negligent:1 oppose:1 tender:1 offer:1 january:1 1985:1 cost:1 several:1 hundred:1 thousand:1 dollar:1 hearing:1 determine:1 amount:1 damage:1 owe:1 set:1 april:1 21:1
|
SUBURBAN BANCORP <SUBBA> UNIT WINS JUDGMENT
Suburban Bancorp said a Cook
County Circuit Court ruled in favor of one of its companies,
Suburban Bancorp of Bartlett (formerly Bartlett State Bank) on
claims against six former directors.
Suburban Bank of Barlett claimed that the former directors
breached their fiduciary duties and were negligent in opposing
Suburban Bancorp's tender offer in January 1985, costing
Bartlett State Bank several hundred thousand dollars.
It said a hearing to determine the amount of damages owed
to the bank was set for April 21.
|
training/5662
|
training/5662 |@title affiliated:1 publications:1 inc:1 afp:1 set:1 payout:1 |@word qtrly:1 div:1 eight:2 ct:2 vs:1 prior:1 pay:1 june:1 1:1 record:1 may:1 15:1
|
AFFILIATED PUBLICATIONS INC <AFP> SETS PAYOUT
Qtrly div eight cts vs eight cts prior
Pay June 1
Record May 15
|
training/5663
|
training/5663 |@title franklin:1 resources:1 inc:1 ben:1 qtly:1 dividend:1 |@word shr:1 six:2 ct:2 vs:1 prior:1 qtr:1 pay:1 april:1 10:1 record:1 march:1 27:1
|
FRANKLIN RESOURCES INC <BEN> QTLY DIVIDEND
Shr six cts vs six cts prior qtr
Pay April 10
Record March 27
|
training/5664
|
training/5664 |@title twa:2 file:2 application:2 seek:2 right:2 raise:2 usair:2 stake:2 25:2 pct:2 |@word
|
TWA FILES APPLICATION SEEKING RIGHT TO RAISE USAIR STAKE TO 25 PCT
TWA FILES APPLICATION SEEKING RIGHT TO RAISE USAIR STAKE TO 25 PCT
|
training/5665
|
training/5665 |@title coopervision:1 6:1 5:1 pct:1 cooper:1 laser:1 zaps:1 |@word coopervision:2 inc:2 eye:1 tell:1 securities:1 exchange:1 commission:1 acquire:1 1:1 420:1 500:1 share:2 cooper:2 lasersonics:1 6:1 5:1 pct:2 total:2 outstanding:2 common:2 stock:1 say:3 buy:2 stake:2 2:1 9:1 mln:1 dlrs:1 investment:1 purpose:1 may:1 additional:1 lasersonic:1 plan:1 boost:1 10:1
|
COOPERVISION HAS 6.5 PCT OF COOPER LASER <ZAPS>
CooperVision Inc <EYE> told the
Securities and Exchange Commission it has acquired 1,420,500
shares of Cooper LaserSonics Inc, or 6.5 pct of the total
outstanding common stock.
CooperVision said it bought the stake for 2.9 mln dlrs for
investment purposes.
It said it might buy additional Cooper LaserSonics common
shares, but said it does not plan to boost its stake above 10
pct of the total outstanding.
|
training/5667
|
training/5667 |@title dna:2 medical:1 dnam:1 sign:1 pact:1 stock:1 sale:1 |@word medical:2 inc:1 say:7 walter:1 g:1 mize:5 buy:1 9:1 400:1 000:3 share:2 33:1 pct:2 dna:6 outstanding:2 stock:2 100:1 dlrs:2 cash:1 agreement:1 also:3 become:1 chairman:2 may:1 option:1 expand:1 board:3 provide:1 equal:1 representation:1 current:2 submit:1 proposal:1 annual:1 meeting:1 acquire:1 three:1 company:2 heritage:2 lite:1 meat:1 corp:3 national:1 lean:1 beef:1 cattle:1 total:1 value:1 transaction:2 700:1 approve:1 shareholder:1 issue:1 additional:1 common:1 80:1 issued:1 replace:1 donald:1 holbrook:1 remain:1 continue:1 development:1 business:1 long:1 deem:1 advantageous:1
|
DNA MEDICAL <DNAM> SIGNS PACT FOR STOCK SALE
DNA Medical Inc said Walter G.
Mize had bought about 9,400,000 shares, or about 33 pct of
DNA's outstanding stock, for 100,000 dlrs cash.
Under an agreement with Mize, DNA said he will also become
chairman, and may, at his option, expand the board to provide
him equal representation with the current board.
DNA also said it will submit a proposal at its annual
meeting for it to acquire three companies owned by Mize,
<Heritage Lite Meat Corp>, <National Lean Beef Corp> and
<Heritage Cattle <Corp>. DNA said the total value of the
transactions is 700,000 dlrs.
DNA said that when the transactions are approved by its
shareholders, it will issue additional shares of its common so
that Mize will own 80 pct of its issued and outstanding stock.
DNA said Mize will replace its current chairman, Donald
Holbrook, who will remain on the board.
The company also said it will continue in the medical
development business as 'long as it is deemed to be
advantageous.'
|
training/5669
|
training/5669 |@title canadian:1 roxy:1 petroleum:1 ltd:1 year:1 net:1 |@word shr:1 profit:2 five:1 ct:2 vs:3 loss:2 23:1 net:1 916:1 000:2 2:2 886:1 revs:1 20:1 0:1 mln:2 28:1
|
<CANADIAN ROXY PETROLEUM LTD> YEAR NET
Shr profit five cts vs loss 23 cts
Net profit 916,000 vs loss 2,886,000
Revs 20.0 mln vs 28.2 mln
|
training/5670
|
training/5670 |@title cityfed:1 ctyf:1 sell:1 consumer:1 lending:1 office:1 |@word cityfed:2 financial:1 corp:1 say:2 city:2 federal:1 savings:1 bank:2 preliminary:1 agreement:1 sell:3 14:1 consumer:3 lending:2 office:3 goldome:2 fsb:1 undisclosed:1 term:1 large:1 mutual:1 saving:1 u:1 decide:1 outside:1 main:1 market:2 area:1 new:2 jersey:1 florida:1 concentrate:1 resource:1 operate:1 name:1 serices:1 inc:1 arizona:1 colorado:1 illinois:1 maryland:1 mexico:1 oregon:1 virginia:1
|
CITYFED <CTYF> TO SELL CONSUMER LENDING OFFICES
CityFed Financial Corp said
its City Federal Savings Bank has a preliminary agreement to
sell 14 consumer lending offices to <Goldome FSB> for
undisclosed terms.
Goldome is the largest mutual savings bank in the U.S.
CityFed said it decided to sell its consumer lending
offices outside its main market areas in New Jersey and Florida
to concentrate its resources to these markets.
The offices being sold operate under the name of City
Consumer Serices Inc in Arizona, Colorado, Illinois, Maryland,
New Mexico, Oregon and Virginia.
|
training/5671
|
training/5671 |@title trans:1 world:1 airlines:1 twa:1 file:1 usair:1 u:1 |@word trans:1 world:1 airlines:1 say:6 tell:1 securities:2 exchange:2 commission:2 intend:2 seek:4 control:3 usair:9 group:1 acquire:2 stock:2 time:1 twa:6 also:3 amend:1 application:2 department:1 transportation:1 amendment:1 reserve:1 right:1 future:1 maintain:1 15:2 pct:3 stake:2 flexibility:1 25:1 would:1 voting:1 trust:1 vote:2 proportion:1 shareholder:1 file:1 13:1 report:1 holding:1 4:1 023:1 200:1 share:2 amount:1 order:2 federal:1 court:1 pittsburgh:1 temporarily:1 bar:1 buy:1 additional:1 pende:1 hearing:1 march:1 23:1 reconsider:1 expand:1 temporary:1 restraining:1 preliminary:1 injunction:1
|
TRANS WORLD AIRLINES <TWA> FILES ON USAIR <U>
Trans World Airlines said it told the
Securities and Exchange Commission it does not intend to seek
control of USAir Group or to acquire more of its stock at this
time.
TWA also said it is amending its application with the
Department of Transportation to seek control of USAir.
The amendment said TWA reserves the right to seek control
of USAir in the future, that it intends to maintain its 15 pct
stake, and that it also is seeking the flexibility to acquire
up to 25 pct of USAir.
TWA said all USAir stock owned by it would be in a voting
trust and voted in the same proportion as the vote of all other
USAir shareholders.
TWA filed a 13-D with the Securities and Exchange
Commission, reporting its holding of 4,023,200 shares of USAir.
TWA has said the stake amounts to about 15 pct.
TWA also said that by order of the federal court in
Pittsburgh, it is temporarily barred from buying additional
shares of USAir pending a hearing March 23 to reconsider
USAir's application to expand the temporary restraining order
to a preliminary injunction.
|
training/5672
|
training/5672 |@title first:1 bank:2 fbs:1 agree:1 sell:1 another:1 |@word first:4 bank:7 system:1 inc:1 say:3 find:1 potential:1 buyer:1 luverne:2 office:3 pipestone:1 minnesota:1 hold:1 company:1 215:1 holding:1 co:1 corporation:1 control:1 family:1 late:1 robert:1 short:1 buy:1 59:1 2:1 mln:1 dlrs:1 asset:2 announce:1 plan:1 1985:1 restructure:1 banking:1 offer:1 sell:1 28:1 total:1 45:1 agreement:1 sign:1 43:1
|
FIRST BANK <FBS> AGREES TO SELL ANOTHER BANK
First Bank System Inc said it has
found a potential buyer for First Bank Luverne and its office
in Pipestone, Minnesota.
The bank holding company said 215 Holding Co, a corporation
controlled by the family of the late Robert Short, will buy
First Bank Luverne. The bank has 59.2 mln dlrs in assets.
First Bank, which announced plans in 1985 to restructure
its banking assets by offering to sell 28 of its banks with a
total of 45 offices, said agreements have now been signed for
43 of these offices.
|
training/5675
|
training/5675 |@title american:1 international:1 petroleum:1 buy:1 asset:1 |@word american:3 international:2 petroleum:1 corp:1 aipn:1 say:2 agree:1 acquire:1 one:1 mln:1 dlrs:1 asset:2 western:1 louisiana:1 oil:2 gas:3 company:2 would:1 identify:1 include:1 nine:2 lease:1 total:1 2:1 600:1 acre:1 various:1 work:1 interest:2 15:1 well:1 property:1 equipment:1 machinery:1 necessary:1 operation:1 50:1 pct:1 mile:1 pipeline:1
|
AMERICAN INTERNATIONAL PETROLEUM TO BUY ASSETS
American International Petroleum Corp
<AIPN> said it agreed to acquire for one mln dlrs the assets of
a western Louisiana oil and gas company. American International
would not identify the company.
American said assets included nine leases totalling 2,600
acres, various working interests in 15 oil and gas wells on
that property, all equipment and machinery necessary for
operation, and a 50 pct interest in a nine-mile gas pipeline.
|
training/5677
|
training/5677 |@title three:1 departments:1 inc:1 tdd:1 2nd:1 qtr:1 jan:1 31:1 |@word shr:2 four:1 ct:4 vs:6 15:2 net:2 132:1 851:1 501:1 537:1 rev:1 10:1 mln:4 5:1 six:1 mth:1 12:1 24:1 409:1 383:1 812:1 045:1 revs:1 19:1 4:1 29:1 1:1
|
THREE D DEPARTMENTS INC <TDD> 2ND QTR JAN 31
Shr four cts vs 15 cts
Net 132,851 vs 501,537
Revs 10 mln vs 15.5 mln
Six mths
Shr 12 cts vs 24 cts
Net 409,383 vs 812,045
Revs 19.4 mln vs 29.1 mln
|
training/5678
|
training/5678 |@title consolidated:1 pipe:1 line:1 co:1 year:1 net:1 |@word shr:1 1:4 19:1 dlrs:2 vs:3 38:1 net:1 499:1 234:1 713:1 941:1 revs:1 23:1 2:1 mln:2 10:1 3:1
|
<CONSOLIDATED PIPE LINES CO> YEAR NET
Shr 1.19 dlrs vs 1.38 dlrs
Net 1,499,234 vs 1,713,941
Revs 23.2 mln vs 10.3 mln
|
training/5679
|
training/5679 |@title newcor:1 inc:1 new:1 1st:1 qtr:1 jan:1 31:1 net:1 |@word shr:1 profit:2 four:1 ct:2 vs:3 loss:2 58:1 net:1 119:1 000:2 1:1 629:1 sale:1 18:1 4:1 mln:2 17:1 0:1
|
NEWCOR INC <NEW> 1ST QTR JAN 31 NET
Shr profit four cts vs loss 58 cts
Net profit 119,000 vs loss 1,629,000
Sales 18.4 mln vs 17.0 mln
|
training/5680
|
training/5680 |@title skyline:1 corp:1 sky:1 3rd:1 qtr:1 feb:1 28:1 |@word shr:2 13:1 ct:6 vs:6 seven:1 net:2 1:1 487:1 000:6 778:1 sale:4 64:1 4:1 mln:4 58:1 3:1 nine:3 mth:1 66:1 55:1 7:1 388:1 6:1 127:1 223:1 0:1 222:1 2:1 note:1 1987:1 quarter:1 month:2 earning:2 include:2 gain:2 idle:2 facility:2 406:1 dlrs:2 four:1 share:2 1986:1 377:1 three:1
|
SKYLINE CORP <SKY> 3RD QTR FEB 28
Shr 13 cts vs seven cts
Net 1,487,000 vs 778,000
Sales 64.4 mln vs 58.3 mln
Nine mths
Shr 66 cts vs 55 cts
Net 7,388,000 vs 6,127,000
Sales 223.0 mln vs 222.2 mln
NOTE: 1987 quarter and nine month earnings includes a gain
on sale of idle facilities of 406,000 dlrs, or four cts a share
1986 nine months earnings include gain on sale of idle
facilities of 377,000 dlrs, or three cts a share
|
training/5682
|
training/5682 |@title tech:1 data:1 corp:1 tecd:1 4th:1 qtr:1 end:1 jan:1 31:1 net:1 |@word shr:2 24:2 ct:4 vs:8 13:1 net:2 771:1 000:8 314:1 rev:1 1:2 mln:4 11:1 3:3 avg:2 shrs:2 234:1 2:2 426:1 12:1 mth:1 65:1 38:1 983:1 904:1 revs:1 71:1 5:1 37:1 7:1 035:1 371:1
|
TECH DATA CORP <TECD> 4TH QTR ENDS JAN 31 NET
Shr 24 cts vs 13 cts
Net 771,000 vs 314,000
Revs 24.1 mln vs 11.3 mln
Avg shrs 3,234,000 vs 2,426,000
12 mths
Shr 65 cts vs 38 cts
Net 1,983,000 vs 904,000
Revs 71.5 mln vs 37.7 mln
Avg shrs 3,035,000 vs 2,371,000
|
training/5683
|
training/5683 |@title senate:1 committee:1 may:1 look:1 fuel:1 tax:1 proposal:1 |@word senate:3 budget:9 committee:5 sit:1 tomorrow:1 start:2 draft:3 fiscal:2 1988:2 writer:1 expect:1 look:1 several:1 proposal:2 fuel:1 taxis:2 tax:4 option:2 cut:1 briefing:1 book:1 drafting:1 session:1 number:2 revenue:5 raise:3 propose:2 include:4 five:2 dlrs:3 barrel:1 fee:2 domestic:2 import:5 oil:2 broad:1 base:2 energy:1 consumption:1 pct:2 value:1 various:1 excise:1 combination:1 surcharge:2 tariff:1 10:1 across:1 board:1 would:4 22:1 billion:3 next:1 year:2 alone:1 later:2 however:1 actual:1 decision:1 leave:1 house:2 write:1 chairman:1 sen:1 lawton:1 chiles:1 florida:1 democrat:1 say:1 hope:1 least:1 18:1 half:1 minimum:1 36:1 dlr:1 deficit:1 reduction:1 mind:1 also:1 plan:2 separate:1 week:1 reconcile:1 version:1 final:1 spending:1 blueprint:1
|
SENATE COMMITTEE MAY LOOK AT FUEL TAX PROPOSALS
The Senate budget committee sits
down tomorrow to start drafting a fiscal 1988 budget, with the
budget writers expected to look at several proposals for fuel
taxes and other tax options to cut the budget.
In a briefing book for the drafting sessions, a number of
revenue raising tax options are proposed, including a five dlrs
a barrel fee on domestic and imported oil, a fee just on
imported oil, and a broad based tax on domestic energy
consumption based on five pct of value.
Other proposals include various excise taxes and
combinations of import surcharges or tariffs, including a 10
pct import across the board import surcharge that would raise
22 billion dlrs next year alone, more in later years.
The committee, however, will only include revenue numbers
in its proposed budget with the actual revenue decisions left
to the House and Senate tax-writing committees.
The committee will draft a budget which its chairman, Sen
Lawton Chiles, a Florida Democrat, said he hopes would raise at
least 18 billion dlrs in revenues, or about half the minimum 36
billion dlr deficit reduction he has in mind.
The House Budget Committee also plans to start drafting a
separate budget plan later this week, which would have to be
reconciled with the Senate version. The final budget would be
the fiscal 1988 spending and revenue blueprint.
|
training/5684
|
training/5684 |@title brazil:1 trade:1 surplus:1 rise:1 february:1 |@word trade:2 surplus:3 double:1 february:7 261:1 mln:5 dlrs:8 january:2 129:1 628:1 1986:5 official:1 figure:1 show:1 director:1 banco:1 brasil:1 foreign:1 department:1 cacex:1 roberto:1 fendt:5 tell:1 reporter:1 upturn:1 confirm:1 rise:3 trend:1 export:3 total:4 1:6 53:1 billion:12 26:1 exclude:2 coffee:2 oil:2 derivitive:1 slightly:1 month:2 last:2 year:5 earning:1 110:1 295:1 low:2 price:1 add:3 say:3 although:1 result:1 average:2 expect:2 rest:1 government:3 target:1 eight:1 dlr:1 1987:1 achieve:1 would:1 compare:1 9:2 5:3 22:2 import:6 14:1 4:1 12:2 27:1 line:1 plan:1 foster:1 economic:2 growth:2 run:1 level:1 well:1 traditional:1 brazil:1 first:1 two:1 wheat:1 8:1 47:1 period:1 demand:1 reflect:1 need:1 brazilian:1 industry:1 equip:1 raise:1 production:1 perfectly:1 compatible:1 program:1
|
BRAZIL TRADE SURPLUS RISES IN FEBRUARY
The trade surplus doubled in
february to 261 mln dlrs from January's 129 mln, but was below
the 628 mln of February 1986, official figures show.
The director of the Banco do Brasil's foreign trade
department (CACEX), Roberto Fendt, told reporters the upturn in
February confirmed a rising trend in exports, which totalled
1.53 billion dlrs against 1.26 billion in January and, after
excluding coffee and oil derivitives, was only slightly below
the same month last year.
Coffee earnings were down to 110 mln dlrs against 295 mln
in February 1986 because of lower prices, he added.
Fendt said that although the February results were lower
than the average expected for the rest of the year, the
government's target of an eight-billion-dlr surplus for 1987
should be achieved. This would compare with a 1986 surplus of
9.5 billion dlrs.
Exports this year are expected to total 22.5 billion dlrs
and imports 14.5 billion, he added. In 1986 exports totalled
22.4 billion dlrs and imports 12.9 billion.
Fendt said the rise in imports in February to 1.27 billion
dlrs from 1.12 billion in February last year was in line with
government plans to foster economic growth.
Fendt said that imports were running at levels well above
the traditional average for Brazil.
In the first two months of the year imports, excluding oil
and wheat totalled, 1.8 billion dlrs against 1.47 billion in
the same 1986 period.
This rise in import demand reflected the needs of Brazilian
industry to equip to raise production and is perfectly
compatible with the government's program for economic growth,
Fendt added.
|
training/5686
|
training/5686 |@title armtek:1 arm:1 unit:1 leverage:1 buyout:1 complete:1 |@word condere:3 corp:3 form:1 former:1 manager:1 armtek:3 say:2 complete:1 acquisition:1 tire:6 plant:3 asset:1 undisclosed:1 term:1 addition:1 manufacturing:1 buy:1 truck:2 sale:2 service:2 operate:1 51:1 sears:2 center:2 licensed:1 agreement:1 sear:1 roebuck:1 co:2 supply:1 armstrong:1 well:1 several:1 expect:1 first:1 year:1 revenue:1 90:1 mln:1 dlrs:1
|
ARMTEK <ARM> UNIT LEVERAGED BUYOUT COMPLETED
Condere Corp, formed by former
managers of Armtek Corp, said it completed the acquisition of a
tire plant and other assets of Armtek for undisclosed terms.
In addition to a tire manufacturing plant, Condere bought
S. and A. Truck Tire Sales and Service Corp, which operates 51
Sears Truck Tire Sales and Service Centers through a licensed
agreement with Sears Roebuck and Co <S>.
The plant will supply tires to Armtek's Armstrong Tire Co
as well as to several Sears Centers. Condere said it expects
first year revenues to be 90 mln dlrs.
|
training/5687
|
training/5687 |@title horizon:1 bancorp:1 hzb:1 set:1 regular:1 payout:1 |@word qtrly:1 div:1 34:2 ct:2 vs:1 prior:1 pay:1 may:1 1:1 record:1 april:1 15:1
|
HORIZON BANCORP <HZB> SETS REGULAR PAYOUT
Qtrly div 34 cts vs 34 cts prior
Pay May 1
Record April 15
|
training/5688
|
training/5688 |@title ashland:2 oil:2 chairman:2 see:2 loss:2 operation:2 second:2 fiscal:2 quarter:2 |@word
|
ASHLAND OIL CHAIRMAN SEES LOSS FROM OPERATIONS IN THE SECOND FISCAL QUARTER
ASHLAND OIL CHAIRMAN SEES LOSS FROM OPERATIONS IN THE SECOND FISCAL QUARTER
|
training/5689
|
training/5689 |@title henley:1 heng:1 issue:1 subsidiary:1 share:1 |@word henley:3 group:3 inc:2 say:4 plan:1 issue:2 20:1 pct:1 common:1 stock:1 fisher:3 scientific:2 unit:1 shareholder:2 company:2 intend:1 one:1 share:3 16:1 hold:1 record:1 march:1 26:1 distribution:1 schedule:1 april:1 six:1 also:1 trade:1 counter:1 market:1 symbol:1 fshg:1
|
HENLEY <HENG> TO ISSUE SUBSIDIARY'S SHARES
Henley Group Inc said it plans
to issue 20 pct of the common stock of its Fisher Scientific
Group Inc unit to Henley Group shareholders.
The company said it intends to issue one share of Fisher
Scientific for each 16 Henley shares held to shareholders of
record March 26. The distribution is scheduled for April six,
the company also said.
It said the Fisher shares will trade in the
over-the-counter market under the symbol FSHG.
|
training/5690
|
training/5690 |@title schlumberger:1 slb:1 may:1 alternate:1 buyer:1 |@word schlumberger:6 ltd:1 likely:1 alternate:1 buyer:2 line:1 fairchild:10 semiconductor:6 unit:2 wall:1 street:1 analyst:9 say:10 think:3 clear:1 cancel:1 agreement:3 fujitsu:7 signal:1 another:1 deal:4 work:1 paul:1 johnson:3 l:3 f:4 rothschild:3 unquestionably:1 add:2 kidder:1 peabody:1 adam:1 cuhney:1 lot:1 company:8 look:1 would:5 willing:1 buy:3 among:1 interested:1 bidding:1 advanced:1 micro:1 device:1 amd:1 sunnyvale:1 calif:3 lsi:1 logic:1 corp:2 llsi:1 milpitas:1 industry:2 top:1 u:3 chipmaker:2 like:1 national:1 nsm:1 texas:1 instruments:1 inc:2 txn:1 motorola:1 mot:1 may:2 also:1 seek:1 could:2 possibly:1 run:1 antitrust:1 problem:1 moreover:1 management:2 consider:1 propose:1 leverage:1 buyout:2 cupertino:1 brief:1 statement:1 announce:1 termination:1 decision:1 open:1 possibility:1 include:2 possible:2 end:1 80:1 pct:1 estimate:1 200:1 mln:1 dlrs:1 rise:1 opposition:1 reagan:1 administration:2 make:1 unlikely:1 sale:2 complete:2 within:1 reasonable:1 period:1 time:1 question:1 explanation:1 however:1 argue:1 need:1 government:5 approval:1 transaction:1 foreigne:1 terminate:1 want:1 spokesman:1 decline:1 elaborate:1 news:1 release:1 review:1 number:1 alternative:1 official:2 immediately:1 available:1 comment:1 note:1 significance:2 apparent:1 success:1 prevent:1 take:1 control:2 commerce:1 secretary:2 malcolm:1 baldrige:1 defense:1 caspar:1 weinberger:1 fear:1 lead:1 japanese:3 key:1 technology:1 supercomputer:1 military:1 weapon:1 system:1 really:1 stand:1 real:1 consequently:1 feel:1 pressure:1 address:1 complaint:1 violation:1 trade:1 sign:1 last:1 summer:1
|
SCHLUMBERGER <SLB> MAY HAVE ALTERNATE BUYER
Schlumberger Ltd most likely has an
alternate buyer lined up for its Fairchild Semiconductor unit,
Wall Street analysts said.
'I think its clear that in cancelling its agreement with
Fujitsu, Schlumberger has signaled that it has another deal in
the works,' said Paul Johnson, a semiconductor analyst with
L.F. Rothschild.
'There are unquestionably other buyers out there,' added
Kidder Peabody analyst Adam F. Cuhney. 'A lot of companies have
looked at Fairchild and would be willing to buy it.'
Among the companies that would be interested in bidding for
Fairchild are Advanced Micro Devices <AMD>, Sunnyvale, Calif.,
and LSI Logic Corp <LLSI>, Milpitas, Calif., industry analysts
said.
Top U.S. chipmakers like National Semiconductor Corp <NSM>,
Texas Instruments Inc <TXN> and Motorola Inc <MOT> might also
seek to buy Fairchild, but could possibly run into antitrust
problems, the analysts added.
Moreover, Fairchild's management is thought to be
considering proposing a leveraged buyout of the Cupertino,
Calif., company, analysts said.
In a brief statement announcing the termination of the
agreement with Fujitsu, Schlumberger said the decision opened
up other possibilities, including a possible buyout by
Fairchild management.
The company said it ended the deal, in which Fujitsu would
have bought 80 pct of Fairchild for an estimated 200 mln dlrs,
because rising opposition to the deal by the Reagan
administration made it unlikely that the sale could be
completed within a reasonable period of time.
Analysts questioned this explanation, however, arguing that
the companies did not need government approval to complete the
transaction. Both Schlumberger and Fujitsu are foreigned-owned
companies.
'Schlumberger would not have terminated the deal because
the U.S. government didn't want it,' said Johnson of L.F.
Rothschild.
A spokesman for Schlumberger declined to elaborate on the
company's news release.
He said only that the company was reviewing a number of
possible alternatives for the Fairchild unit.
Officials at Fairchild and Fujitsu were not immediately
available for comment.
Analysts noted the significance of the government's
apparent success in preventing Fujitsu from taking control of
Fairchild.
Administration officials, including Commerce Secretary
Malcolm Baldrige and Defense Secretary Caspar Weinberger,
feared that the sale to Fujitsu would lead to Japanese control
of key semiconductor technology for supercomputers and military
weapons systems.
'The government really stood up for the semiconductor
industry,' said Johnson of L.F. Rothschild. 'That, I think, is
the real significance of this.'
Consequently, analysts said, the Japanese government might
now feel more pressure to address U.S. complaints about
Japanese chipmakers' violation of the semiconductor trade
agreement signed last summer.
|
training/5692
|
training/5692 |@title brazil:1 trade:1 surplus:1 double:1 february:1 |@word brazil:2 trade:2 surplus:3 double:1 february:7 261:1 mln:5 dlrs:9 january:2 129:1 well:2 628:1 last:3 year:6 official:1 figure:1 show:1 director:1 banco:1 brasil:1 foreign:1 department:1 cacex:1 roberto:1 fendt:5 tell:1 reporter:1 upturn:1 confirm:1 rise:3 trend:1 export:3 total:4 1:6 53:1 billion:12 26:1 exclude:2 coffee:2 oil:2 derivative:1 slightly:1 month:2 earning:1 110:1 295:1 1986:4 low:2 price:1 add:3 say:3 although:1 result:1 average:2 expect:2 rest:1 government:3 target:1 eight:1 dlr:1 1987:1 achieve:1 would:1 compare:1 9:2 5:3 22:2 import:5 14:1 4:1 12:2 27:1 line:1 plan:1 foster:1 economic:2 growth:2 run:1 level:1 traditional:1 first:1 two:1 wheat:1 8:1 47:1 period:1 reflect:1 industry:1 need:1 equipment:1 raise:1 production:1 perfectly:1 compatible:1 program:1
|
BRAZIL'S TRADE SURPLUS DOUBLED IN FEBRUARY
Brazil's trade surplus doubled
in February to 261 mln dlrs from January's 129 mln but was well
below the 628 mln dlrs of February last year, official figures
show.
Director of the Banco do Brasil's foreign trade department
(CACEX), Roberto Fendt, told reporters the upturn in February
confirmed a rising trend in exports which totalled 1.53 billion
dlrs against 1.26 billion in January and, after excluding
coffee and oil derivatives, was only slightly below the same
month last year.
Coffee earnings were down to 110 mln dlrs against 295 mln
in February, 1986, because of lower prices, he added.
Fendt said although the February results were lower than
the average expected for the rest of the year, the government's
target of an eight billion dlr surplus for 1987 should be
achieved. This would compare with a 1986 surplus of 9.5 billion
dlrs.
Exports this year are expected to total 22.5 billion dlrs
and imports 14.5 billion, he added. In 1986 exports totalled
22.4 billion dlrs and imports 12.9 billion.
Fendt said the rise in imports in February to 1.27 billion
dlrs from 1.12 billion in February last year was in line with
government plans to foster economic growth.
Fendt said imports were running at levels well above the
traditional average for Brazil.
Imports in the first two months of the year, excluding oil
and wheat, totalled 1.8 billion dlrs against 1.47 billion in
the same 1986 period.
This rise reflected industry's need for equipment to raise
production and is perfectly compatible with the government's
program for economic growth, Fendt added.
|
training/5693
|
training/5693 |@title penn:1 central:1 pc:1 sell:1 u:1 k:1 unit:1 saft:1 |@word unit:1 cie:1 generale:1 electricite:1 france:1 say:3 buy:1 u:2 k:2 base:1 alcad:2 ltd:1 penn:1 central:1 corp:1 marathon:1 manufacturing:1 cos:1 inc:1 term:1 deal:1 disclose:1 one:1 world:1 large:1 producer:1 pocket:1 plate:1 nickel:1 cadmium:1 storeage:1 battery:1 use:1 industrial:1 railroad:1 application:1 start:1 engine:1 light:1 source:1 saft:2 expect:1 add:1 400:1 job:1 operation:1
|
PENN CENTRAL <PC> SELLS U.K. UNIT
SAFT, a unit of Cie Generale
d'Electricite of France, said it bought U.K.-based Alcad Ltd
from Penn Central Corp's Marathon Manufacturing Cos Inc.
Terms of the deal were not disclosed.
Alcad is one of the world's largest producers of
pocket-plate nickel-cadmium storeage batteries, used in
industrial and railroad applications to start engines and as
light sources, SAFT said.
SAFT said it expects to add 400 jobs at the U.K.
operations.
|
training/5694
|
training/5694 |@title silicon:1 valley:1 bancshare:1 set:1 stock:1 payout:1 |@word silicon:1 valley:1 bancshares:1 say:1 declare:1 five:1 pct:1 stock:1 dividend:1 payable:1 may:1 1:2 shareholder:1 record:1 april:1
|
<SILICON VALLEY BANCSHARES> SETS STOCK PAYOUT
Silicon Valley Bancshares
said it declared a five pct stock dividend, payable May 1 to
shareholders of record April 1.
|
training/57
|
training/57 |@title ccc:1 credit:1 honduras:1 switch:1 white:1 corn:1 |@word commodity:1 credit:3 corporation:1 ccc:1 announce:1 1:2 5:2 mln:2 dlrs:3 guarantee:2 previously:1 earmark:1 cover:2 sale:5 dry:2 edible:2 bean:2 hondura:1 switch:1 white:2 corn:2 u:1 agriculture:1 department:2 say:3 action:1 reduce:1 coverage:1 500:1 000:1 create:1 new:1 line:2 must:1 register:1 ship:1 september:1 30:1 1987:1
|
CCC CREDITS FOR HONDURAS SWITCHED TO WHITE CORN
The Commodity Credit Corporation (CCC)
announced 1.5 mln dlrs in credit guarantees previously
earmarked to cover sales of dry edible beans to Honduras have
been switched to cover sales of white corn, the U.S.
Agriculture Department said.
The department said the action reduces coverage for sales
of dry edible beans to 500,000 dlrs and creates the new line of
1.5 mln dlrs for sales of white corn.
All sales under the credit guarantee line must be
registered and shipped by September 30, 1987, it said.
|
training/5701
|
training/5701 |@title di:1 giorgio:1 corp:1 dig:1 qtly:1 dividend:1 |@word shr:1 16:2 ct:2 vs:1 prior:1 qtr:1 pay:1 may:1 15:1 record:1 april:1 17:1
|
DI GIORGIO CORP <DIG> QTLY DIVIDEND
Shr 16 cts vs 16 cts prior qtr
Pay May 15
Record April 17
|
training/5702
|
training/5702 |@title soybean:1 group:1 meet:1 lyng:1 discuss:1 loan:1 |@word high:2 level:4 meeting:6 last:4 week:5 include:1 secretary:4 agriculture:1 senior:1 usda:5 official:2 along:1 leader:2 major:1 soybean:17 lobby:1 group:2 fail:1 reach:1 decision:1 loan:7 participant:6 tell:1 reuters:1 feel:1 lot:1 accomplish:1 delighted:1 meet:1 close:1 door:1 anything:2 member:2 delegation:2 say:6 issue:1 current:2 fact:1 present:1 4:2 77:3 dlrs:2 without:1 gramm:1 rudman:1 reductions:1 encourage:1 foreign:1 production:1 make:1 profitable:1 grow:1 corn:2 recognize:1 price:3 relation:1 pledge:1 support:3 maintain:2 grower:1 american:1 association:2 national:1 processors:1 offer:2 specific:2 option:2 lyng:1 would:5 reveal:1 surprise:1 package:1 one:2 bandy:1 several:1 idea:1 producer:1 partially:1 cash:2 certificate:2 prevailing:1 scheme:1 pay:2 ct:1 worth:1 back:1 remain:1 four:1 effect:1 lower:1 world:1 domestic:1 reduce:1 government:1 inventory:1 marketing:1 discuss:1 listening:1 session:1 proposal:1 study:1 department:1 however:1 commit:1 time:1 frame:1 look:1 change:1 announce:1 near:1 future:1 sensitive:1 could:1 influence:1 market:1 non:1 committal:1
|
SOYBEAN GROUPS MEET WITH LYNG TO DISCUSS LOAN
A high-level meeting last week which
included the Secretary of Agriculture and other senior USDA
officials, along with leaders of the major soybean lobbying
groups, failed to reach any decision on what should be done
about the soybean loan level, participants at the meeting told
Reuters.
'We didn't feel a lot was accomplished last week, but we
were delighted to meet with the Secretary, and he didn't close
the door on anything,' a member of the soybean delegation said.
At issue is the current soybean loan and the fact that at
the present level of 4.77 dlrs (without Gramm-Rudman
reductions) it encourages foreign soybean production by making
soybeans more profitable to grow than corn.
But while recognizing that soybeans are priced too high in
relation with corn, soybean groups have pledged their support
to maintaining current price supports for soybean growers.
Leaders of the American Soybean Association and the
National Soybean Processors Association offered specific loan
options to USDA Secretary Lyng in last week's meeting, but
participants would not reveal what those options were.
'There were no surprises in our package,' one participant
said. Bandied about for several weeks has been the idea of
offering producers soybean loans partially in cash and in
certificates.
The most prevailing scheme would be to pay a 4.77 loan with
77 cts worth of soybean-specific certificates which would not
have to be paid back and the remaining four dlrs in cash.
This would have the effect of lowering the world price,
maintaining domestic support levels and reducing the
government's soybean inventory.
A marketing loan for soybeans was not discussed at last
week's meeting, participants said.
One member of the soybean delegation said that the meeting
was a 'listening session' for USDA, and that the proposals will
now be studied further by the Department.
USDA officials, however, would not commit to any time
frame. Participants in the meeting do not look for changes in
the soybean loan to be announced in the near future.
'USDA is very sensitive about saying anything that could
influence the market, so the Secretary was very non-committal,'
a participant said.
|
training/5706
|
training/5706 |@title u:1 heating:1 oil:1 future:1 sharply:1 april:1 |@word supply:1 shortage:1 number:1 two:1 oil:7 new:2 york:2 prompt:2 delivery:2 boost:1 april:5 heating:4 contract:2 u:1 energy:1 future:4 trader:1 say:6 crude:3 follow:1 gasoline:2 lag:1 end:1 1:1 24:1 ct:5 high:3 51:1 65:1 gallon:3 settle:1 28:2 18:1 64:1 dlrs:2 rally:2 lead:1 spot:1 month:1 seem:1 move:2 higher:2 tigtene:1 harbor:1 james:1 ritterbusch:3 vice:1 president:1 paine:1 webber:1 inc:2 chicago:1 0:1 cent:1 53:2 15:1 market:2 also:1 find:1 support:1 report:1 middle:1 east:1 economics:1 survey:1 opec:2 output:1 14:1 mln:1 barrel:2 per:1 day:1 second:1 week:1 march:1 lot:1 interest:1 sell:1 belief:1 richard:1 redoglia:2 broker:1 merrill:1 lynch:1 futures:1 could:2 continue:1 test:1 19:1 profit:1 take:1 stunt:1
|
U.S. HEATING OIL FUTURES UP SHARPLY IN APRIL
A supply shortage of number two oil in
New York for prompt delivery boosted the April heating oil
contract on U.S. energy futures, traders said.
Crude oil futures followed but gasoline futures lagged.
April heating oil ended 1.24 cts higher to 51.65 cts a gallon,
while April crude settled 28 cts higher at 18.64 dlrs.
'The rally was led by spot month heating oil contract,
which seemed to move higher because of tigtened prompt
deliveries in New York Harbor,' said James Ritterbusch, vice
president at Paine Webber Inc in Chicago.
April gasoline was 0.28 cent higher at 53.15 cts a gallon.
Ritterbusch said the market also found support from a
report in the Middle East Economics Survey that said that OPEC
oil output was down to about 14 mln barrels per day in the
second week of March.
'There was not a lot of interest to sell the market because
of belief in OPEC,' said Richard Redoglia, a broker with
Merrill Lynch Futures Inc.
Redoglia and Ritterbusch said April heating oil could
continue to rally above 53 cts a gallon, while crude futures
could test 19 dlrs a barrel before profit-taking stunts the
move higher.
|
training/5707
|
training/5707 |@title transamerica:1 income:1 tai:1 monthly:1 dividend:1 |@word shr:1 19:2 ct:2 vs:1 prior:1 period:1 pay:1 april:1 15:1 record:1 march:1 31:1 note:1 full:1 name:1 transamerica:1 income:1 shares:1 inc:1
|
TRANSAMERICA INCOME <TAI> MONTHLY DIVIDEND
Shr 19 cts vs 19 cts prior period
Pay April 15
Record March 31
Note: Full name Transamerica Income Shares Inc.
|
training/5708
|
training/5708 |@title mcdermott:1 mdr:1 say:1 stake:1 violate:1 law:1 |@word mcdermott:1 international:1 inc:1 say:4 purchase:1 5:2 4:2 pct:3 block:2 stock:2 apparent:1 violation:2 law:1 panama:1 country:1 incorporation:1 company:2 detailed:1 disclosure:1 acquisition:1 offer:1 must:1 make:1 panamanian:2 national:1 securities:1 commission:1 target:1 board:1 acquire:2 five:1 stake:1 transfer:1 security:1 regulation:1 invalid:1 immediately:1 available:1
|
MCDERMOTT <MDR> SAYS STAKE VIOLATES LAW
McDermott International Inc said
the purchase of a 5.4 pct block of its stock was an apparent
violation of the laws of Panama, its country of incorporation.
The company said a detailed disclosure of an acquisition
offer must be made to the Panamanian National Securities
Commission or to the target's board before acquiring more than
five pct stake.
It said transfers of securities in violation of these
Panamanian regulations are invalid.
The company was not immediately available to say who had
acquired the 5.4 pct block of stock.
|
training/5710
|
training/5710 |@title icahn:1 say:1 target:1 sec:1 investigation:1 |@word corporate:1 raider:1 carl:1 icahn:8 acknowledge:3 one:1 target:2 investigation:4 securities:1 exchange:1 commission:1 possible:2 violation:2 security:4 law:5 head:1 control:2 trans:1 world:1 airlines:1 inc:2 twa:3 make:6 acknowledgement:1 filing:4 require:2 sec:9 disclose:6 14:1 8:1 pct:5 stake:2 usair:1 group:4 issue:1 formal:1 order:2 launch:1 private:1 nov:1 12:1 1986:1 say:4 file:1 empower:1 investigator:1 try:1 find:1 whether:2 person:1 include:1 violate:2 relate:1 rule:1 specifically:1 probe:5 examine:1 acquisition:1 subsequent:1 sale:1 five:4 stock:7 certain:1 unspecified:1 company:7 federal:1 individual:2 shareholder:3 agreement:2 least:1 within:1 10:1 day:1 subpoena:1 connection:1 first:1 time:1 among:2 investigate:1 disclosure:2 obviously:1 already:1 aware:2 also:1 alert:1 current:1 potential:1 uncommon:1 officer:1 government:1 existence:1 otherwise:1 secret:1 fulfill:1 legal:1 requirement:1 look:1 name:1 acquire:1 sell:1 kind:1 spawn:1 agency:1 widen:1 wall:1 street:1 insider:1 trading:1 scandal:1 accord:1 publish:1 report:1 late:1 13d:1 form:1 amount:2 investor:2 could:1 indicate:1 scheme:3 warehouse:1 share:1 warehousing:2 act:3 concert:2 would:1 amass:1 without:1 fail:1 together:1 market:1 unware:1 last:1 year:1 charge:1 member:1 wealthy:1 belzberg:1 family:1 canada:1 take:1 part:1 accumulate:1 ashland:1 oil:1
|
ICAHN SAYS HE IS TARGET OF SEC INVESTIGATION
Corporate raider Carl Icahn
acknowledged that he is one of the targets of an investigation
by the Securities and Exchange Commission into possible
violations of securities laws.
Icahn, who heads and controls Trans World Airlines Inc
<TWA>, made the acknowledgement in a filing TWA was required to
make with the SEC disclosing its 14.8 pct stake in USAir Group.
The SEC issued a formal order launching the private
investigation on Nov 12, 1986, Icahn said in the SEC filing.
The order empowers SEC investigators to try to find out
whether any persons, including Icahn, violated securities laws
and related rules, Icahn said.
Specifically, the probe is examining the acquisition and
subsequent sale of more than five pct of the stock of certain
unspecified companies, he said.
Federal law requires individuals or groups of individuals
who have made shareholder agreements, to disclose stakes in
companies of at least five pct within 10 days.
Icahn has acknowledged that he has been subpoenaed in
connection with SEC probes, but this is the first time he has
disclosed that he is among those being investigated.
By making the disclosure in a filing with the SEC, which is
obviously already aware of its own probe, Icahn was also
alerting current and potential shareholders of TWA.
It is not uncommon for companies which are aware that they
or their officers are the targets of government probes to
acknowledge the existence of the otherwise secret
investigations to fulfill their legal disclosure requirements
to their shareholders.
Icahn said the SEC is looking into whether he and others
whom he did not name violated securities laws by acquiring and
selling more than five pct of a company's stock.
SEC investigations into those kinds of possible securities
law violations have been spawned by the agency's widening probe
into the Wall Street insider trading scandal, according to
published reports.
Making late filings of 13D forms, which disclose the amount
of stock over five pct an investor has in a company, or making
no filing at all could indicate a scheme to 'warehouse' shares
of stock.
In a warehousing scheme, a group of investors acting in
concert would each amass stock in the company without
disclosing that they have an agreement among them.
By failing to disclose that they are acting together the
market is unware of the amount of stock of a company that is
controlled by a group acting in concert.
Last year, the SEC charged members of the wealthy Belzberg
family of Canada with taking part in a warehousing scheme while
it was accumulating stock in Ashland Oil Inc.
|
training/5711
|
training/5711 |@title smithkline:1 skb:1 aim:1 10:1 pct:1 earning:1 raise:1 |@word smithkline:6 beckman:1 corp:1 say:10 pursue:1 three:2 point:1 stragey:1 achieve:1 10:2 pct:4 annual:2 increase:2 operate:1 earning:3 throughout:1 remainder:1 decade:1 1986:4 earn:1 521:1 1:3 mln:4 dlrs:6 6:2 78:1 per:1 share:4 revenue:1 3:1 billion:3 company:1 report:3 nonpharmaceutical:1 business:2 play:1 major:2 role:1 meet:2 growth:1 target:1 fact:1 grow:2 faster:1 pharmaceutical:2 whose:1 product:5 antiulcer:2 medication:1 tagamet:3 intend:1 improve:1 exist:1 expand:1 portfolio:1 optimize:1 financial:1 resource:1 bolster:2 position:1 market:1 stiff:1 competition:1 strategy:1 develop:1 counter:1 version:1 two:2 joint:1 venture:2 one:3 wellcome:1 plc:1 pende:1 japan:1 also:3 allergan:2 inc:1 eye:2 skin:2 care:2 division:1 dlr:1 organization:1 next:2 five:1 year:5 seven:1 annually:1 nondilutive:1 acquisition:1 real:1 possibility:1 gavin:1 herbert:1 president:1 group:1 worldwide:1 sale:5 433:1 smith:3 kline:3 french:1 laboratory:2 unit:2 9:1 file:1 food:1 drug:2 administration:1 marketing:1 approval:1 number:1 cardiovascular:1 agent:1 include:2 tissue:1 plasminogen:1 activator:1 sk:1 f:1 u:1 force:1 20:1 large:1 1987:1 000:1 personnel:1 small:1 clinical:1 testing:3 373:1 perform:1 24:1 test:1 see:1 employee:1 well:1 aids:1 antibody:1 depend:1 price:1 cost:1 money:1 may:1 buy:2 back:2 last:1 25:1 begin:1 new:2 management:1 team:1 chief:1 operating:1 officer:1 george:1 ebright:1
|
SMITHKLINE <SKB> AIMS FOR 10 PCT EARNINGS RAISE
SmithKline Beckman Corp said it is
pursuing a three-point stragey that will achieve a 10 pct
annual increase in operating earnings throughout the remainder
of the decade.
In 1986, SmithKline earned 521.1 mln dlrs or 6.78 dlrs per
share on revenues of 3.6 billion dlrs.
The company said in its annual report that its
nonpharmaceutical business will play a major role in meeting
its earnings growth target, and will in fact grow faster than
its pharmaceutical business.
SmithKline, whose major product is the antiulcer medication
Tagamet, said in the report that it intends to improve earnings
from existing products, expand its product portfolio and
optimize its financial resources.
To bolster its position in the antiulcer market, in which
Tagamet has met stiff competition, SmithKline said its strategy
to develop an over-the-counter version of Tagamet is bolstered
by two joint ventures, one with <Wellcome PLC>, and one pending
venture in Japan.
SmithKline also said its Allergan Inc eye and skin care
products division can be a one billion dlr organization in the
next five years that can grow at more than seven to 10 pct
annually.
'Nondilutive acquisitions are a real possibility,' Gavin
Herbert, president of the eye and skin care product group said
in the report. In 1986, Allergan had worldwide sales of 433 mln
dlrs.
It said its Smith Kline and French Laboratories
pharmaceuticals unit, with 1986 sales of 1.9 billion dlrs, will
file for Food and Drug Administration marketing approval for a
number of cardiovascular agents, including tissue plasminogen
activator, over the next two years.
It also said SK and F's U.S. sales force will be 20 pct
larger in 1987, with more than 1,000 sales personnel.
Smith Kline also said its small clinical laboratory testing
unit, with 1986 sales of 373 mln dlrs, performs 24 mln tests a
year, and sees increases in employee drug testing as well as in
testing for the AIDS antibody.
Smith Kline said that depending on its share price and the
cost of money, it may buy back more shares. In the last three
years, it has bought back about 25 pct of its shares.
SmithKline begins the year with a new management team,
including its new chief operating officer George Ebright.
|
training/5712
|
training/5712 |@title ashland:1 oil:1 ash:1 see:1 2nd:1 qtr:1 oper:1 loss:1 |@word ashland:6 oil:2 inc:1 say:4 expect:4 report:3 loss:3 operation:3 second:1 quarter:6 company:5 also:1 10:1 mln:3 dlrs:5 net:2 gain:2 excess:1 pension:1 fund:1 use:1 pay:1 debt:1 however:1 difficult:2 determine:1 whether:1 sufficient:1 offset:1 operating:1 statement:1 spokesman:1 would:1 elaborate:1 petroleum:2 co:1 unit:1 operate:1 january:1 february:1 since:1 unable:1 raise:1 product:1 price:1 enough:1 recover:1 high:1 crude:1 cost:1 although:1 superamerica:1 retail:1 marketing:1 valvoline:1 chemical:1 coal:1 business:1 good:1 result:1 end:1 march:1 31:1 year:1 ago:1 income:3 93:1 8:1 corporate:1 interest:1 expense:1 taxis:1 equity:1 item:1 39:1 4:1 1:2 12:1 share:1 sale:1 78:1 billion:1
|
ASHLAND OIL <ASH> SEES 2ND QTR OPER LOSS
Ashland Oil Inc said it expects to
report a loss from operations in the second quarter.
The company also said it expects to report a 10 mln dlrs
net gain in the quarter from excess pension funds used to pay
down debt. 'However, it is difficult to determine now whether
this gain will be sufficient to offset the expected operating
loss,' the company said in a statement. A company spokesman
would not elaborate.
The company's Ashland Petroleum Co unit operated at a loss
in January and February since it was unable to raise product
prices enough to recover higher crude oil costs, Ashland said.
Although Ashland Petroleum and SuperAmerica, a retail
marketing operation, are having a difficult quarter, the
company's Valvoline, Ashland Chemical and coal businesses are
expected to report good results for the quarter ended March 31.
In the year-ago quarter, Ashland had income from operations
of 93.8 mln dlrs before corporate and interest expenses, taxes,
equity income and other items.
Net income in the quarter was 39.4 mln dlrs or 1.12 dlrs a
share on sales of 1.78 billion dlrs.
|
training/5713
|
training/5713 |@title ameritrust:1 amtr:1 sell:1 two:1 mln:1 share:1 |@word ameritrust:4 corp:2 say:3 sell:1 two:1 mln:2 share:2 common:2 stock:2 investment:2 group:3 name:1 clevebaco:2 ltd:1 partnership:2 control:1 alfred:1 lerner:1 subsidiary:1 progressive:1 prog:1 limited:1 partner:1 accord:1 company:2 advise:1 file:1 application:1 bank:1 regulatory:1 authority:1 seek:1 permission:1 acquire:1 additional:1 three:1 indicate:1 hostile:1 takeover:1 intent:1 toward:1 purchase:1 purpose:1
|
AMERITRUST <AMTR> SELLS TWO MLN SHARES
Ameritrust Corp said it sold two mln
shares of its common stock to an investment group named
Clevebaco Ltd Partnership.
The partnership is controlled by Alfred Lerner, and a
subsidiary of the Progressive Corp <PROG> is the limited
partner, according to the company.
Ameritrust said it was advised that the Clevebaco group has
filed an application with bank regulatory authorities seeking
permission to acquire up to an additional three mln shares of
Ameritrust common stock.
The company said the group indicated to it that it had no
hostile takeover intent toward Ameritrust, and that the
purchase was for investment purposes.
|
training/5715
|
training/5715 |@title bankamerica:2 chairman:2 say:2 bank:2 turn:2 around:2 head:2 profitability:2 |@word
|
BANKAMERICA CHAIRMAN SAYS BANK IS TURNING AROUND, HEADING TO PROFITABILITY
BANKAMERICA CHAIRMAN SAYS BANK IS TURNING AROUND, HEADING TO PROFITABILITY
|
training/5716
|
training/5716 |@title general:1 leaseholds:1 ltd:1 year:1 net:1 |@word shr:1 30:1 ct:2 vs:4 53:1 net:1 868:1 000:7 728:1 revs:1 7:1 300:1 6:1 500:1 avg:1 shrs:1 3:1 750:1
|
<GENERAL LEASEHOLDS LTD> YEAR NET
Shr 30 cts vs 53 cts
Net 868,000 vs 728,000
Revs 7,300,000 vs 6,500,000
Avg shrs 3,000,000 vs 750,000
|
training/5717
|
training/5717 |@title british:1 farm:1 minister:1 attack:1 subsidy:1 |@word farm:4 subsidy:2 protectionist:1 move:2 threaten:1 healthy:2 trade:2 side:2 atlantic:2 michael:1 jopling:1 british:1 minister:1 agriculture:2 fisheries:1 food:1 warn:1 would:2 sensible:1 provoke:1 another:1 dispute:1 europe:2 united:3 states:3 jople:3 say:3 remark:1 prepare:1 evening:1 speech:1 thing:1 clear:1 apply:1 continue:1 pile:1 stock:1 world:1 demand:1 shrink:1 government:2 must:1 operate:1 policy:1 purely:1 domestic:1 affair:1 impact:1 also:2 recognize:1 long:1 run:1 develop:1 stable:1 sector:1 basis:1 protectionism:1 excessive:1 subisdie:1 many:1 common:1 interest:1 make:1 worthwhile:1 engage:1 war:1 competitive:1 export:1 end:1 benefit:1 one:1 add:1 crucial:1 european:1 community:1 remain:1 friend:1 member:1 ec:3 committee:1 indiana:1 visit:1 several:1 prior:1 talk:1 u:1 official:1 washington:1 later:1 week:1 criticize:1 recent:1 proposal:1 still:1 consideration:1 tax:1 vegetable:1 fish:1 oil:1 oppose:1 think:1 correct:1 shortage:1 fund:1 support:1 farmer:1 alleviate:1 raise:1 money:1 consumer:1 expense:1
|
BRITISH FARM MINISTER ATTACKS SUBSIDIES
Farm subsidies and protectionist
moves threaten healthy trade on both sides of the Atlantic,
Michael Jopling, British minister of Agriculture, Fisheries and
Food, warned.
'It would not be sensible to provoke another dispute between
Europe and the United States,' Jopling said in remarks prepared
for an evening speech.
'But some things are clear and they apply on both sides of
the Atlantic. We cannot continue to pile up stocks while world
demand shrinks,' he said.
'Governments must not operate farm policies as if they were
purely domestic affairs with no impact on others. They also
have to recognize that they cannot in the long run develop a
healthy and stable farm sector on the basis of protectionism
and excessive subisdies.
'And above all, Europe and the United States have too many
common interests to make it worthwhile to engage in trade wars
and competitive export subsidies which end by benefitting no
one.' He added, 'It is crucial that the United States and the
European Community remain friends.'
Jopling, who is a member of the EC agriculture committee,
was in Indiana to visit several farms prior to talks with U.S.
officials in Washington later this week.
Jopling also criticized a recent proposal still under
consideration by the EC for a tax on vegetable and fish oils.
He said his government would oppose such a move because 'We
do not think it is correct that a shortage of funds to support
(EC) farmers should be alleviated by raising money at the
consumer's expense.'
|
training/5719
|
training/5719 |@title bankamerica:1 bac:1 chair:1 say:1 bank:1 turn:1 around:1 |@word bankamerica:4 corp:1 chairman:1 w:1 clausen:5 say:6 bank:1 hold:1 company:1 turn:1 around:2 back:1 road:1 profitability:1 speech:1 san:1 francisco:1 chamber:1 commerce:1 absolutely:1 convince:1 would:2 return:1 position:2 preeminence:1 fundamental:1 achieve:1 goal:1 continue:3 reduce:3 cost:1 dramatically:1 get:1 arm:1 loan:1 loss:1 problem:1 begin:1 charge:1 enhance:1 revenue:1 generation:1 doubt:1 year:1 make:1 acquisition:1 experience:1 growth:2 staff:1 operation:1 note:1 expense:2 1986:1 increase:1 one:1 pct:1 1985:1 also:1 phase:1 overseas:1 retail:1 banking:2 concentrate:1 wholesale:1 emphasis:1 premium:1 list:1 multinational:1 corporation:1
|
BANKAMERICA <BAC> CHAIR SAYS BANK TURNING AROUND
BankAmerica Corp Chairman A.W.
Clausen said the bank holding company is turning around and is
back on the road to profitability.
In a speech to the San Francisco Chamber of Commerce,
Clausen said he was 'absolutely convinced' BankAmerica would
return to its position of preeminence.
'Fundamental to achieving that goal is to continue to
reduce costs dramatically, to get our arms around our loan loss
problems and begin to reduce charge-offs, and to enhance our
revenue generation,' Clausen said.
Clausen said he doubts BankAmerica would be in a position
this year to make any acquisitions or experience any growth.
He said BankAmerica will continue to reduce staff and
operations, noting that expense growth in 1986 increased only
one pct over 1985 expenses.
Clausen also said it will continue to phase out its
overseas retail banking and concentrate on wholesale banking,
with emphasis on a premium list of multinational corporations.
|
training/5720
|
training/5720 |@title rochester:1 telephone:1 corp:1 rtc:1 set:1 dividend:1 |@word qtly:1 div:1 66:2 ct:2 vs:1 pay:1 may:1 one:1 record:1 april:1 15:1
|
ROCHESTER TELEPHONE CORP <RTC> SETS DIVIDEND
Qtly div 66 cts vs 66 cts
Pay May one
Record April 15
|
training/5721
|
training/5721 |@title augat:1 inc:1 aug:1 set:1 quarterly:1 dividend:1 |@word qtly:1 div:1 10:3 ct:2 vs:1 pay:1 april:2 30:1 record:1
|
AUGAT INC <AUG> SETS QUARTERLY DIVIDEND
Qtly div 10 cts vs 10 cts
Pay April 30
Record April 10
|
training/5722
|
training/5722 |@title phh:2 group:1 regular:1 qtly:1 dividend:1 |@word qtly:1 div:1 26:2 ct:2 vs:1 prior:1 pay:1 april:2 30:1 record:1 10:1
|
PHH GROUP <PHH> REGULAR QTLY DIVIDEND
Qtly div 26 cts vs 26 cts prior
Pay April 30
Record April 10
|
training/5723
|
training/5723 |@title telco:1 systems:1 inc:1 telc:1 2nd:1 qtr:1 march:1 one:1 loss:1 |@word shr:2 loss:4 nine:1 ct:4 vs:6 profit:4 14:1 net:2 773:1 000:4 1:1 618:1 revs:2 16:1 3:3 mln:4 26:1 7:1 six:1 mth:1 56:1 27:1 4:1 763:1 398:1 29:1 49:1 9:1
|
TELCO SYSTEMS INC <TELC> 2ND QTR MARCH ONE LOSS
Shr loss nine cts vs profit 14 cts
Net loss 773,000 vs profit 1,618,000
Revs 16.3 mln vs 26.7 mln
Six mths
Shr loss 56 cts vs profit 27 cts
Net loss 4,763,000 vs profit 3,398,000
Revs 29.3 mln vs 49.9 mln
|
training/5724
|
training/5724 |@title u:2 decline:1 comment:1 schlumberger:1 slb:1 move:1 |@word commerce:4 department:4 spokesman:3 say:5 agency:2 would:2 comment:1 schlumberger:3 ltd:2 announcement:2 terminate:1 agreement:1 principle:1 sell:1 fairchild:1 semiconductor:1 corp:1 unit:1 fujitsu:1 sclumberger:1 controversy:1 surround:1 venture:1 make:1 unlikely:1 sale:3 could:2 complete:1 time:1 soon:1 oppose:1 u:2 defense:3 part:1 national:1 security:1 ground:1 chief:1 b:1 j:1 cooper:1 contact:1 deal:2 unaware:1 immediate:1 reaction:1 official:2 last:1 week:1 tell:1 reuters:1 secretary:2 malcolm:1 baldrige:1 caspar:1 weinberger:1 join:1 force:1 fight:1 plan:1 leave:1 military:1 overly:1 dependent:1 foreign:1 source:1 vital:1 equipment:1 use:1 high:1 technology:1 weapon:1 administration:1 opposition:1 also:1 stem:1 ongoing:1 trade:1 tension:1 united:1 states:1 japan:1
|
U.S. DECLINES COMMENT ON SCHLUMBERGER<SLB> MOVE
A U.S. Commerce Department spokesman
said the agency would have no comment on Schlumberger Ltd's
announcement that it had terminated an agreement in principle
to sell its Fairchild Semiconductor Corp unit to Fujitsu Ltd.
Sclumberger had said that controversy surrounding the
venture made it unlikely the sale could be completed any time
soon. The sale was opposed by Commerce and the U.S. Defense
Department, in part on national security grounds.
Commerce chief spokesman B.J. Cooper said the department
had had no contact with Schlumberger about the deal.
A Defense Department spokesman said the agency was unaware
of Schlumberger's announcement and would have no immediate
reaction.
Officials last week told Reuters that Commerce Secretary
Malcolm Baldrige and Defense Secretary Caspar Weinberger had
joined forces to fight the planned sale because it could have
left the U.S. military overly dependent on foreign sources for
vital equipment used in high-technology weapons.
Administration opposition to the deal also stemmed from
ongoing trade tensions between the United States and Japan,
officials said.
|
training/5725
|
training/5725 |@title precision:1 target:1 marketing:1 inc:1 ptmi:1 3rd:1 qtr:1 |@word shr:2 profit:3 one:1 ct:4 vs:6 loss:5 two:1 net:2 74:1 000:6 122:1 revs:2 1:3 7:2 mln:4 dlrs:3 4:1 nine:2 month:2 five:1 10:1 299:1 624:1 5:1 3:1 note:1 3rd:2 qtr:2 end:1 january:1 31:1 1987:1 include:1 36:1 129:1 gain:1 respectively:1 tax:1 carryforward:1
|
PRECISION TARGET MARKETING INC <PTMI> 3RD QTR
Shr profit one cts vs loss two cts
Net 74,000 vs loss 122,000
Revs 1.7 mln dlrs vs 1.4 mln
Nine months
Shr profit five cts vs loss 10 cts
Net profit 299,000 vs loss 624,000
Revs 5.1 mln vs 3.7 mln
NOTE:3rd qtr ended January 31. 1987 3rd qtr and nine months
includes 36,000 dlrs and 129,000 dlrs gains respectively from
tax loss carryforward.
|
training/5727
|
training/5727 |@title royal:1 bank:1 canada:1 brazil:1 unit:1 see:1 growth:1 |@word royal:6 bank:8 canada:9 ry:1 small:1 brazilian:7 commercial:2 subsidiary:2 banco:4 brasil:1 see:2 opportunity:1 growth:2 expect:4 substantial:1 increase:3 export:4 president:1 michael:1 brennan:8 say:10 exporter:1 interested:1 canadian:3 market:2 untapped:1 tell:1 reporter:1 speech:1 brazil:6 chamber:1 commerce:1 currently:1 product:1 like:1 paper:1 machinery:1 ship:1 hope:1 medium:1 term:1 financing:1 facility:1 company:1 reinstate:1 shortly:1 follow:1 agreement:2 reach:3 january:1 international:1 financial:2 authority:1 estimate:1 total:1 roughly:1 800:1 mln:3 dlrs:3 1985:1 import:1 700:1 profit:1 year:2 three:1 u:2 report:1 fiscal:1 1986:1 end:1 september:1 30:1 could:2 predict:1 much:1 country:1 uncertain:1 climate:1 come:1 although:1 montreal:1 investment:1 able:1 equitable:1 foreign:2 restructure:1 68:1 billion:1 dlr:1 debt:2 economy:1 essentially:1 healthy:1 believe:1 may:1 position:1 resume:1 repayment:1 within:1 comment:1 impact:1 interest:1 payment:1 moratorium:1
|
ROYAL BANK/CANADA BRAZIL UNIT SEES GROWTH
Royal Bank of Canada's <RY> small
Brazilian commercial bank subsidiary Banco Royal do Canada
(Brasil) S.A. sees opportunities for its own growth with an
expected substantial increase in Brazilian exports to Canada,
Banco Royal president Michael Brennan said.
'They (Brazilian exporters) are very interested in the
Canadian market because it's an untapped market,' Brennan told
reporters after a speech to the Brazil/Canada Chamber of
Commerce.
Brennan said Brazil is currently exporting products like
paper machinery and ships to Canada.
He said he hopes to see medium-term financing facilities
for Brazilian companies reinstated shortly, following an
agreement reached in January with international financial
authorities.
Brennan estimated Brazilian exports to Canada totalled
roughly 800 mln Canadian dlrs in 1985 while imports from Canada
reached about 700 mln dlrs.
Brennan said he expects Banco Royal profit to increase this
year from the three mln U.S. dlrs reported for fiscal 1986
ended September 30 but said he could not predict by how much
because of the country's uncertain financial climate.
Brennan said he expects his bank's growth to come from
increased exports to Canada. Banco Royal is the only
Canadian-owned commercial bank in Brazil although <Bank of
Montreal> has a Brazilian investment bank subsidiary, he said.
Brennan said he expected Brazil to be able to reach an
equitable agreement with foreign banks on restructuring its 68
billion U.S. dlr foreign debt, because the Brazilian economy is
essentially healthy. He said he believed Brazil might be in a
position to resume debt repayments within a year.
Brennan said he could not comment on the impact of Brazil's
interest payment moratorium on the Royal Bank of Canada.
|
training/5729
|
training/5729 |@title affiliated:1 publications:1 inc:1 afp:1 set:1 dividend:1 |@word qtly:1 div:1 eight:2 ct:2 vs:1 pay:1 june:1 one:1 record:1 may:1 15:1
|
AFFILIATED PUBLICATIONS INC <AFP> SETS DIVIDEND
Qtly div eight cts vs eight cts
Pay June one
Record May 15
|
training/5731
|
training/5731 |@title astro:1 med:1 inc:1 alot:1 4th:1 qtr:1 net:1 |@word shr:2 10:2 ct:4 vs:6 nine:1 net:2 217:1 000:6 192:1 revs:2 3:1 325:1 2:2 506:1 year:1 31:1 43:1 660:1 932:1 12:1 mln:2 7:1
|
ASTRO-MED INC <ALOT> 4TH QTR NET
Shr 10 cts vs nine cts
Net 217,000 vs 192,000
Revs 3,325,000 vs 2,506,000
Year
Shr 31 cts vs 43 cts
Net 660,000 vs 932,000
Revs 12.2 mln vs 10.7 mln
|
training/5732
|
training/5732 |@title central:1 pennsylvania:1 cpsa:1 buy:1 stake:1 firm:1 |@word central:2 pennsylvania:2 savings:2 association:2 say:2 make:1 30:1 pct:1 investment:2 pinnacle:2 mortgage:2 co:1 term:1 disclose:1 incorporate:1 1985:1 generate:1 60:1 mln:1 dlrs:1 closed:1 loan:1 annually:1 also:1 director:1 recently:1 approve:1 letter:1 intent:1 acquire:1 hamilton:1 reliance:1 norristown:1 pa:1
|
CENTRAL PENNSYLVANIA <CPSA> BUYS STAKE IN FIRM
Central Pennsylvania Savings
Association said it made a 30 pct investment in <Pinnacle
Mortgage Investment Co>.
Terms were not disclosed.
Pinnacle, incorporated in 1985, generates about 60 mln dlrs
in closed mortgage loans annually.
Central Pennsylvania also said its directors recently
approved a letter of intent to acquire Hamilton-Reliance
Savings Association of Norristown, Pa.
|
training/5734
|
training/5734 |@title n:1 z:1 port:1 reopen:1 closure:1 possible:1 |@word harbour:2 worker:1 return:1 work:1 morning:1 strike:1 support:1 pay:3 claim:1 close:1 new:1 zealand:1 15:2 port:1 24:1 hour:1 yesterday:1 workers:1 union:4 tell:1 reporter:1 dispute:1 settle:1 national:1 executive:1 meet:1 tomorrow:1 decide:1 next:1 move:1 obviously:1 consider:1 industrial:1 action:1 secretary:1 ross:1 wilson:1 say:1 radio:1 interview:1 reject:1 employer:1 offer:1 7:2 5:1 pct:2 rise:1 month:2 want:1 0:1 12:1
|
N.Z. PORTS REOPEN, BUT FURTHER CLOSURES POSSIBLE
Harbour workers returned to work
this morning after a strike in support of pay claims closed New
Zealand's 15 ports for 24 hours yesterday.
But the Harbour Workers Union told reporters the pay
dispute is not settled and the union's national executive will
meet here tomorrow to decide its next moves.
'Obviously we will be considering further industrial action,'
Union secretary Ross Wilson said in a radio interview.
The union rejects employers offers of a 7.5 pct pay rise
over 15 months. It wants 7.0 pct over 12 months.
|
training/5737
|
training/5737 |@title atcor:1 atco:1 say:1 outlook:1 depend:1 steel:1 |@word atcor:3 inc:1 say:3 magnitude:1 earning:1 recovery:1 fiscal:1 1987:1 depend:1 direction:1 steel:1 pricing:1 fast:1 company:2 severe:1 operating:1 problem:1 consumer:2 segment:2 resolve:1 represent:1 25:1 pct:1 sale:1 letter:1 shareholder:1 part:1 business:1 continue:1 unprofitable:1 expect:1 performance:1 improvement:1 first:1 quarter:1 sustain:1 throughout:1 year:1 due:1 increase:1 raw:1 material:1 cost:1
|
ATCOR <ATCO> SAYS OUTLOOK DEPENDS ON STEEL
Atcor Inc said the magnitude of any
earnings recovery in fiscal 1987 depends on the direction of
steel pricing and how fast the company's severe operating
problems in its consumer segment are resolved.
Atcor's consumer segment represents about 25 pct of its
sales. In a letter to shareholders the company said that that
part of its business continues to be unprofitable.
Atcor said it does not expect performance improvements in
the first quarter to be sustained throughout the year due to
increasing raw material costs.
|
training/5738
|
training/5738 |@title zzzz:1 best:1 co:1 inc:1 zbst:1 3rd:1 qtr:1 net:1 |@word shr:2 14:1 ct:4 vs:8 four:1 net:2 1:2 474:1 000:4 286:1 revs:2 15:1 5:3 mln:8 4:2 avg:2 shrs:2 10:1 6:1 7:2 nine:1 mth:1 38:1 eight:1 3:1 387:1 588:1 33:1 2:1 9:1 8:2
|
ZZZZ BEST CO INC <ZBST> 3RD QTR NET
Shr 14 cts vs four cts
Net 1,474,000 vs 286,000
Revs 15.5 mln vs 1.4 mln
Avg shrs 10.6 mln vs 7.5 mln
Nine mths
Shr 38 cts vs eight cts
Net 3,387,000 vs 588,000
Revs 33.4 mln vs 2.9 mln
Avg shrs 8.8 mln vs 7.5 mln
|
training/5739
|
training/5739 |@title pacific:1 lighting:1 plt:1 consider:1 unit:1 sale:1 |@word pacific:4 lighting:2 corp:1 say:5 consider:2 sale:3 land:4 development:4 line:2 business:2 initiate:1 discussion:1 potential:1 buyer:1 book:1 value:1 company:5 investment:2 operation:3 224:1 mln:2 dlrs:2 light:2 real:1 estate:1 group:1 earn:1 24:1 2:1 employ:1 800:1 people:1 1986:1 alternative:1 include:1 master:1 limited:1 partnership:1 initial:1 public:1 offering:1 equity:1 proceed:1 would:1 likely:1 invest:1 new:1 specialty:1 retailing:1 oil:1 gas:1 banking:1 firm:1 morgan:1 stanley:1 retain:1 advise:1 disposition:1 completion:1 transaction:1 one:1 make:1 expect:1 end:1 year:1
|
PACIFIC LIGHTING <PLT> CONSIDERS UNIT SALE
Pacific Lighting Corp said it is
considering the sale of its land development line of business
and will be initiating discussions with potential buyers.
The book value of the company's investment in land
development operations is 224 mln dlrs. The Pacific Lighting
Real Estate Group earned 24.2 mln dlrs and employed 800 people
during 1986, the company said.
Alternatives to the sale being considered include a master
limited partnership and an initial public offering of the
equity in the land development companies, it said.
Proceeds from the sale would likely be invested in Pacific
Lightings' new specialty retailing line of business and its oil
and gas operations, the company said.
The investment banking firm Morgan Stanley has been
retained to advise Pacific Lighting on the disposition of the
land development operations.
Completion of a transaction, it one is made, is expected by
the end of the year, the company said.
|
training/5740
|
training/5740 |@title mlx:2 mlxx:1 unit:2 agree:1 abex:1 |@word corp:2 say:1 subsidiary:1 tentatively:1 agree:1 acquire:1 sinter:1 friction:3 material:3 business:3 milan:1 italy:1 unit:1 abex:1 undisclosed:1 term:1 deal:1 close:1 obtain:1 italian:1 government:1 approval:1 expect:1 late:1 april:1 operate:1 name:1 k:1 wellman:1 become:1 member:1 mlx:1 specialty:1 group:1 manufacturer:1 high:1 energy:1 heavy:1 duty:1 transmission:1 clutch:1
|
MLX <MLXX> UNIT AGREES TO BY ABEX UNIT
MLX Corp said a subsidiary has
tentatively agreed to acquire a sintered friction materials
business in Milan, Italy, from a unit of Abex Corp for
undisclosed terms.
The deal will close after obtaining Italian government
approvals, expected in late April.
The business, which will operated under the name S.K.
Wellman, will become a member of MLX's specialty friction
materials group. The business is a manufacturer of high-energy
friction materials for heavy-duty transmissions and clutches.
|
training/5741
|
training/5741 |@title moduline:1 international:1 mdln:1 3rd:1 qtr:1 oper:1 loss:1 |@word qtr:2 end:1 dec:1 31:1 oper:5 shr:4 loss:6 two:1 ct:6 vs:6 92:1 net:2 28:1 045:1 1:2 040:1 700:1 sale:2 4:1 943:1 584:1 5:1 613:1 400:1 nine:2 mth:2 profit:2 11:1 93:1 124:1 434:1 054:1 000:3 22:1 6:1 mln:2 26:1 3:1 mouduline:1 international:1 inc:1 note:1 data:1 include:1 1986:1 gain:1 tax:1 benefit:1 carryforward:1 30:1 dlrs:2 three:1 per:2 110:1 ten:1
|
MODULINE INTERNATIONAL <MDLN> 3RD QTR OPER LOSS
Qtr ended Dec 31
Oper shr loss two cts vs loss 92 cts
Oper net loss 28,045 vs loss 1,040,700
Sales 4,943,584 vs 5,613,400
Nine mths
Oper shr profit 11 cts vs loss 93 cts
Oper net profit 124,434, vs loss 1,054,000
Sales 22.6 mln vs 26.3 mln
(Mouduline International Inc)
Note: oper data does not include 1986 gains from tax
benefit carryforwards of 30,000 dlrs, or three cts per shr, in
qtr and 110,000 dlrs, or ten cts per shr, in nine mths.
|
training/5742
|
training/5742 |@title financial:1 trustco:1 capital:1 ltd:1 hike:1 payout:1 |@word qtly:2 div:2 12:2 5:2 ct:3 vs:1 six:1 pay:2 march:2 31:1 record:2 24:1 note:1 co:1 also:1 declare:1 special:1 share:1 issue:1 december:1 1986:1 date:1
|
<FINANCIAL TRUSTCO CAPITAL LTD> HIKES PAYOUT
Qtly div 12.5 cts vs six cts
Pay March 31
Record March 24
Note: Co also declares 12.5 ct qtly div on special shares
issued in December, 1986, with same pay and record dates.
|
training/5743
|
training/5743 |@title usp:2 real:1 estate:1 uspt:1 gain:1 sale:1 |@word real:1 estate:1 investment:1 trust:1 say:1 post:1 first:1 quarter:1 gain:1 2:1 258:1 216:1 dlrs:1 sale:1 spanish:1 villa:1 apartment:1 savannah:1 ga:1 complete:1 last:1 week:1
|
USP REAL ESTATE <USPTS> HAS GAIN ON SALE
USP Real Estate Investment
Trust said it will post a first-quarter gain of 2,258,216 dlrs
on the sale of the Spanish Villa Apartments in Savannah, Ga.,
which was completed last week.
|
training/5744
|
training/5744 |@title bindley:1 western:1 industries:1 inc:1 bind:1 4th:1 qtr:1 net:1 |@word oper:7 shr:4 primary:4 28:1 ct:8 vs:16 17:2 dilute:4 24:1 net:3 1:6 826:1 000:12 104:1 revs:3 205:1 4:2 mln:8 171:1 avg:4 shrs:4 6:5 512:1 462:3 510:1 10:4 3:3 year:1 83:1 76:1 77:1 74:1 5:2 393:1 955:1 719:1 9:2 633:1 511:1 591:1 508:1 379:1 122:1 722:1 note:1 include:2 investment:1 income:1 2:2 323:1 dlrs:10 239:1 qtr:3 612:1 12:3 mth:3 1986:1 rev:1 also:1 unrealized:1 loss:1 equity:1 security:1 59:1 155:1 exclude:1 extraordinary:1 gain:1 875:1 284:1 053:1
|
BINDLEY WESTERN INDUSTRIES INC<BIND>4TH QTR NET
Oper shr primary 28 cts vs 17 cts
Oper shr diluted 24 cts vs 17 cts
Oper net 1,826,000 vs 1,104,000
Revs 205.4 mln vs 171.1 mln
Avg shrs primary 6,512,462 vs 6,510,462
Avg shrs diluted 10.3 mln vs 10.3 mln
Year
Oper shr primary 83 cts vs 76 cts
Oper shr diluted 77 cts vs 74 cts
Oper net 5,393,000 vs 4,955,000
Revs 719.9 mln vs 633.5 mln
Avg shrs primary 6,511,591 vs 6,508,379
Avg shrs diluted 10.3 mln vs 9,122,722
Note: Revs includes investment income 2,323,000 dlrs vs
2,239 dlrs for qtr and 10.1 mln dlrs vs 6,612,000 dlrs for 12
mths. 1986 revs also include unrealized loss on equity
securities of 59,000 dlrs for qtr and 1,155,000 dlrs for 12
mths.
Oper net excludes extraordinary gain of 875,000 dlrs vs
284,000 dlrs for qtr and 1,053,000 dlrs vs 462,000 dlrs for 12
mths.
|
training/5746
|
training/5746 |@title centel:1 cnt:1 see:1 low:1 first:1 qtr:1 profit:1 |@word centel:3 corp:1 say:4 see:1 1987:2 first:3 quarter:3 result:3 1986:2 due:1 regulatory:1 limit:2 telephone:4 earning:1 15:1 ct:2 20:1 share:3 dilution:1 acquisition:1 annual:2 report:1 chairman:1 robert:1 reuss:3 tell:1 shareholder:2 profit:1 continue:1 ceiling:1 impose:1 regulator:2 well:1 deregulation:1 structural:1 change:1 within:1 industry:1 slow:1 growth:1 investment:1 base:1 set:1 rate:3 last:1 year:1 1:1 11:1 dlrs:1 several:1 company:1 unit:2 may:1 face:1 reduction:2 return:1 authorize:1 could:1 refund:1 customer:1 encourage:1 prospect:1 progress:1 business:1 communications:1 cable:1 television:1 cellular:1 ask:1 meeting:1 approve:1 triple:1 120:1 mln:1 authorized:1
|
CENTEL <CNT> SEES LOWER FIRST QTR PROFITS
Centel Corp said it sees 1987 first
quarter results below those of 1986 due to regulatory limits on
telephone earnings and 15 cts to 20 cts a share dilution from
1986 acquisitions.
In the annual report, Chairman Robert Reuss told
shareholders telephone profits will continued to be limited by
ceilings imposed by regulators as well as deregulation and
structural changes within the industry that have slowed growth
in the investment base for setting rates.
As such, its first quarter 1987 results will be below last
year's first quarter of 1.11 dlrs a share, he said.
'Several of the company's telephone units may be faced with
a reduction in the rates of return authorized by their
regulators,' Reuss said. 'This could result in some rate
reductions and refunds to customers.'
Reuss said he is encouraged by the prospects for progress
in Centel's business communications, cable television and
cellular telephone units.
Centel is asking shareholders at the annual meeting to
approve the tripling to 120 mln in authorized shares.
|
training/5749
|
training/5749 |@title wing:2 west:1 airlines:1 3rd:1 qtr:1 net:1 |@word qtr:1 end:1 jan:1 31:1 shr:1 one:1 ct:2 vs:3 nine:2 net:1 29:1 000:4 349:1 revs:1 7:1 892:1 4:1 721:1 note:1 mth:1 datum:1 unavailable:1
|
WINGS WEST AIRLINES <WING> 3RD QTR NET
Qtr ended Jan 31
Shr one ct vs nine cts
Net 29,000 vs 349,000
Revs 7,892,000 vs 4,721,000
Note: nine mth data unavailable
.
|
training/5750
|
training/5750 |@title twa:2 see:1 benefit:1 usair:1 u:1 merger:1 |@word trans:1 world:1 airlines:1 inc:2 disclose:1 intend:1 seek:1 control:3 usair:10 group:2 time:1 say:8 still:2 believe:2 combination:2 two:1 airline:1 would:5 benefit:1 filing:1 securities:1 exchange:1 commission:1 twa:8 carl:1 icahn:1 continue:2 closely:1 watch:1 development:1 agreement:3 acquire:2 piedmont:1 aviation:1 pie:1 spend:1 178:1 2:1 mln:1 dlrs:1 4:1 043:1 200:1 share:1 amount:1 14:1 8:1 pct:1 total:1 outstanding:1 common:1 stock:4 buy:1 least:1 moment:1 create:1 certain:1 synergy:1 mutually:1 beneficial:1 carrier:1 stress:1 reserve:1 right:1 revive:1 takeover:1 attempt:1 may:1 explore:1 feasibility:1 strategy:1 gain:1 purchase:1 require:2 approval:1 department:2 transportation:2 rule:1 also:1 put:1 voting:3 trust:2 fleet:1 national:1 bank:2 trustee:1 vote:1 favor:1 acquisition:1 oppose:1 merger:1
|
TWA <TWA> SEES BENEFITS IN USAIR <U> MERGER
Trans World Airlines Inc, which
disclosed that it does not intend to seek control of USAir
Group at this time, said it still believes a combination of the
two airlines would have benefits to both.
In a filing with the Securities and Exchange Commission,
TWA, which is controlled by Carl Icahn, said it continues to
closely watch the developments of USAir, which has an agreement
to acquire Piedmont Aviation Inc <PIE>.
TWA said it spent 178.2 mln dlrs to acquire its 4,043,200
USAir shares, which amount to 14.8 pct of its total outstanding
common stock.
TWA said it would not buy more USAir Group stock, at least
for the moment.
But it said it still believes a TWA-USAir combination would
'create certain synergies that would be mutually beneficial to
both carriers.'
TWA stressed that it reserved the right to revive its
takeover attempt and said it may continue to explore the
feasibility and strategies of gaining control of USAir.
Further purchases of USAir stock would require the approval
of the Department of Transportation, TWA said.
Because of Department of Transportation rules, TWA also
said it put its USAir stock into a voting trust with Fleet
National Bank as the voting trustee.
The voting trust agreement requires the bank to vote in
favor of any acquisition agreement between TWA and USAir and to
opposed any other merger of USAir.
|
training/5751
|
training/5751 |@title adobe:1 adb:1 high:1 plain:1 hpoc:1 merge:1 |@word adobe:4 resources:1 corp:2 high:5 plains:1 oil:1 say:3 reach:1 agreement:2 principle:1 plain:4 merge:1 unit:1 term:1 company:2 share:2 common:2 stock:1 hold:1 treasury:1 exchange:2 1:1 12:1 newly:1 issue:1 make:1 effective:1 date:1 merger:1 must:1 approve:1 board:1 shareholder:1
|
ADOBE <ADB>, HIGH PLAINS <HPOC> TO MERGE
Adobe Resources Corp and High Plains Oil
Corp said they reached an agreement in principle under which
High Plains will be merged into a unit of Adobe.
Under terms of the agreement, the companies said each share
of High Plains common stock not owned by Adobe or held in the
High Plains treasury will be exchanged for 1.12 shares of newly
issued Adobe common.
The exchange, they said, will be made on the effective date
of the merger, which must be approved by both companies' boards
and High Plains' shareholders.
|
training/5752
|
training/5752 |@title ec:1 warn:1 u:1 japan:1 trade:1 tension:1 |@word european:2 community:5 ec:7 deliver:1 warning:1 japan:5 united:1 states:1 trade:10 friction:1 hit:1 relation:3 main:1 trading:1 partner:1 foreign:1 minister:6 meeting:1 issue:2 statement:4 deplore:2 continued:1 imbalance:2 appeal:1 great:1 effort:1 country:1 open:2 market:2 also:2 say:7 disturb:2 move:4 u:6 limit:1 import:2 textile:1 warn:1 would:3 react:2 external:1 commissioner:1 willy:1 de:2 clercq:2 already:1 write:1 counterpart:1 special:1 representative:1 clayton:1 yeutter:1 outline:1 concern:1 add:2 adoption:1 measure:1 fail:1 negative:1 effect:1 process:1 multilateral:1 negotiation:1 start:1 well:1 bilateral:1 unilateral:1 leave:1 option:1 accord:1 law:1 world:1 body:1 general:1 agreement:1 tariffs:1 gatt:1 separate:1 continue:3 aggravation:1 expect:1 insist:1 japanese:3 government:1 must:1 boost:1 stimulate:1 demand:1 call:2 commission:1 prepare:1 report:2 july:1 year:1 enable:1 take:1 action:1 necessary:1 one:1 diplomat:3 show:1 determine:1 let:1 question:1 drop:1 wil:1 back:1 table:1 tell:1 journalist:1 certain:1 nervousness:1 grow:1 impatience:1 within:1 keen:1 talk:1 tokyo:1 try:1 solve:1 problem:1 rather:1 embark:1 costly:1 damaging:1 war:1
|
EC WARNS U.S. AND JAPAN ON TRADE TENSIONS
The European Community (EC) delivered
warnings to both Japan and the United States over trade
frictions which have hit relations between the Community and
its main trading partners.
EC foreign ministers meeting here issued a statement
deploring Japan's continued trade imbalance and appealed for
greater effort by the country to open its markets.
Ministers also issued a statement saying they were
disturbed by moves in the U.S. to limit imports of textiles and
warned that the Community would react to any such moves.
EC External Trade Commissioner, Willy De Clercq has already
written to his U.S. counterpart, special U.S. Trade
Representative Clayton Yeutter, outlining the EC's concerns.
The ministers' said they were 'very disturbed' by the U.S.
moves, adding, 'the adoption of such measures would not fail to
have a negative effect on the process of multilateral
negotiations just started as well as on bilateral relations.'
Any unilateral U.S. moves would leave the EC no option but
to react according to the laws of the world trade body, the
General Agreement on Tariffs and Trade (GATT), they said.
In a separate statement on Japan, the EC ministers said
they 'deplore the continued aggravation of the imbalance in
trade ... (and) expect Japan to open up its market more.'
The statement added that the EC continued to insist that
the Japanese government must boost imports and stimulate
demand.
Ministers also called on the European Commission to prepare
a report on U.S.-Japanese trade for July this year to enable
them to take action where necessary.
One diplomat said the call for a report showed ministers
were determined not to let the Japanese question drop. 'It wil
be back on the table again and again,' the diplomat said.
De Clercq told journalists, 'There is a certain nervousness,
a growing impatience within the Community on trade relations
with Japan.'
But diplomats said the Community is keen to continue
talking with Tokyo to try and solve the problem rather than
embark on a costly and damaging trade war.
|
training/5754
|
training/5754 |@title ceasar:2 world:2 file:2 suit:2 martin:2 sosnoff:2 mts:2 acquisition:2 tender:2 offer:2 |@word
|
CEASARS WORLD FILES SUIT AGAINST MARTIN SOSNOFF AND MTS ACQUISITION ON TENDER OFFER
CEASARS WORLD FILES SUIT AGAINST MARTIN SOSNOFF AND MTS ACQUISITION ON TENDER OFFER
|
training/5755
|
training/5755 |@title coastal:1 cgp:1 hit:1 two:1 billion:1 dlr:1 lawsuit:1 |@word transamerica:4 natural:1 gas:4 corp:2 say:3 seek:2 two:1 billion:1 dlrs:1 punitive:1 actual:1 damage:2 lawsuit:1 file:2 today:1 coastal:9 chairman:3 certain:1 affiliate:1 privately:1 hold:1 company:6 bankruptcy:2 since:1 1983:1 suit:3 allege:4 oscar:1 wyatt:3 jr:1 unlawfully:1 interfere:2 agreement:2 previously:1 reach:2 creditor:2 cause:1 significant:1 also:1 state:1 district:1 court:1 harris:1 county:1 texas:2 injunction:1 enjoin:1 contractual:1 begin:1 mid:1 1986:1 take:3 various:1 step:1 acquire:1 asset:1 use:1 proceeding:1 engineer:1 hostile:1 takeover:1 attempt:3 charge:1 transamerican:3 notorious:1 corporate:1 raider:1 restrain:1 past:1 corporation:1 create:1 stranglehold:1 position:1 could:2 control:2 raise:1 price:1 obvious:1 effort:1 improperly:1 thinly:1 veiled:1 large:1 share:1 market:1 detriment:1 end:1 user:1 consumer:1 comment:1 name:1
|
COASTAL <CGP> HIT WITH TWO BILLION DLR LAWSUIT
TransAmerica Natural Gas Corp said it
is seeking two billion dlrs in punitive and actual damages in a
lawsuit it filed today against Coastal Corp, its chairman and
certain Coastal affiliates.
TransAmerica, a privately held company that has been in
bankruptcy since 1983, said its suit alleges that Coastal and
its chairman, Oscar S. Wyatt Jr, unlawfully interfered with
agreements it previously reached with its creditors, causing
the company significant damage.
TransAmerica also said its suit, filed in state district
court in Harris County, Texas, seeks injunctions against Wyatt
and Coastal to enjoin them from interfering with its
contractual agreements with its creditors.
The company alleged that beginning in mid-1986, Coastal and
its chairman took various steps to acquire its gas and other
assets.
Coastal has used TransAmerica's bankruptcy proceedings to
engineer a hostile takeover attempt, the company charged.
In its suit TransAmerican alleged that Coastal and Wyatt
are 'notorious corporate raiders who have been restrained in
the past from taking over other corporations in their attempt
to create a stranglehold position from which they could control
and raise gas prices...'
'It is obvious that Coastal's efforts to improperly take
over TransAmerican is a thinly veiled attempt to control a
larger share of the Texas gas market to the detriment of end
users and consumers,' the company alleged.
Coastal could not be reached for comment. Company name is
Transamerican.
|
training/5756
|
training/5756 |@title caesars:1 world:1 caw:1 file:1 suit:1 sosnoff:1 |@word caesars:4 world:5 inc:1 say:2 file:2 lawsuit:1 martin:1 sosnoff:5 mts:2 acquisition:1 corp:1 regard:1 march:1 9:1 unsolicited:1 tender:3 offer:6 stock:4 company:2 federal:3 court:1 central:1 district:1 california:1 charge:3 board:1 reject:1 violate:1 security:1 law:1 margin:1 regulation:1 suit:2 material:2 materially:1 false:2 misleading:2 misstate:1 conceal:1 information:1 require:2 disclose:1 shareholder:1 also:1 illusory:1 design:1 manipulate:1 market:1 enable:1 sell:1 already:1 substantial:1 profit:1 complaint:1 seek:2 among:1 thing:1 enjoin:1 correct:1 statement:1 caesar:1 expect:1 friendly:1 suitor:1 restructure:1 operation:1 buy:1 back:1 holding:1 attempt:1 fight:1 bid:1 hold:1 13:1 6:1 pct:1
|
CAESARS WORLD <CAW> FILES SUIT AGAINST SOSNOFF
Caesars World Inc said it filed a
lawsuit against Martin T. Sosnoff and MTS Acquisition Corp
regarding its March 9 unsolicited tender offer for Caesars
World stock.
The company said it filed in the Federal Court in the
Central District of California, charging the tender offer,
which its board rejected, violated federal securities laws and
federal margin regulations.
The suit charges the offering materials are materially
false and misleading and misstate and conceal material
information required to be disclosed to shareholders.
The suit also charges the offer is illusory and designed to
manipulate the market in Caesars World stock to enable Sosnoff
to sell the Caesars World stock he already owns for a
substantial profit.
The complaint seeks, among other things, to enjoin the
tender offer and to require MTS and Sosnoff to correct false
and misleading statements in the offer.
Caesars World is expected to seek a friendly suitor,
restructure operations, or buy back Sosnoff's holdings in an
attempt to fight off the bid.
Sosnoff holds about 13.6 pct of the company's stock.
|
training/5757
|
training/5757 |@title harris:1 centerre:1 bancorp:1 ctbc:1 stake:1 |@word harris:2 associates:1 l:1 p:1 chicago:1 investment:1 advisor:1 say:3 raise:1 stake:1 centerre:2 bancorporation:1 508:1 062:1 share:4 6:2 pct:2 total:1 outstanding:1 427:1 061:1 5:2 filing:1 securities:1 exchange:1 commission:1 buy:1 81:1 001:1 common:1 jan:1 2:1 march:1 4:1 price:1 range:1 36:1 00:1 39:1 75:1 dlrs:1 dealing:1 company:1 stock:1 behalf:1 client:1
|
HARRIS UPS CENTERRE BANCORP <CTBC> STAKE
Harris Associates L.P., a Chicago
investment advisor, said it raised its stake in Centerre
Bancorporation to 508,062 shares, or 6.6 pct of the total
outstanding, from 427,061 shares, or 5.5 pct.
In a filing with the Securities and Exchange Commission,
Harris said it bought 81,001 Centerre common shares between Jan
2 and March 4 at prices ranging from 36.00 to 39.75 dlrs a
share.
It said its dealings in the company's stock are on behalf
of its clients.
|
training/5758
|
training/5758 |@title pay:1 n:1 save:1 payn:1 1st:1 qtr:1 jan:1 31:1 net:1 |@word shr:1 profit:2 one:1 ct:2 vs:3 loss:2 14:1 net:1 279:1 000:2 1:1 896:1 sale:1 199:1 6:1 mln:2 142:1 4:1
|
PAY'N-SAVE <PAYN> 1ST QTR JAN 31 NET
Shr profit one ct vs loss 14 cts
Net profit 279,000 vs loss 1,896,000
Sales 199.6 mln vs 142.4 mln
|
training/5761
|
training/5761 |@title ec:1 commission:1 defend:1 farm:1 program:1 |@word european:1 community:4 ec:13 executive:2 commission:5 defend:2 attack:2 major:1 element:1 ambitious:1 program:1 rid:2 controversial:1 farm:7 surplus:2 strong:2 northern:1 states:1 britain:3 west:4 germany:3 back:1 netherlands:1 denmark:1 oppose:1 propose:3 tax:7 edible:1 oil:5 fat:2 already:2 spark:1 protest:1 exporter:1 lead:1 u:1 consumer:1 group:2 diplomat:4 say:7 agriculture:1 commissioner:1 fran:1 andriessen:4 tell:2 journalist:2 warn:3 minister:5 failure:1 agree:2 last:2 month:1 part:1 annual:1 price:4 package:1 would:3 leave:1 large:1 hole:2 budget:2 add:2 hope:2 state:1 yet:1 make:3 mind:1 good:1 debate:1 still:1 open:1 formidable:1 shortfall:1 could:4 reach:1 two:3 billion:2 dollar:1 1988:1 slightly:1 less:1 year:2 foreign:2 take:1 first:1 look:1 ahead:1 move:1 describe:1 unprecedented:1 welcome:1 sign:1 recognise:1 importance:1 reform:1 policy:1 design:1 provide:1 extra:1 cash:1 finance:1 oilseed:1 crop:1 current:1 level:2 brake:1 dramatic:1 decrease:1 olive:2 consumption:1 competitive:1 note:1 mln:2 producer:1 mostly:1 small:1 farmer:2 help:1 suggest:1 reasonable:1 better:1 understand:1 outside:1 home:1 normally:1 keen:1 advocate:1 radical:1 change:1 costly:1 subsidy:2 system:2 proposal:3 impose:1 domestic:1 import:1 seriously:1 damage:1 trade:1 relation:1 country:3 also:3 hit:2 develop:1 receive:1 aid:1 dismantle:2 monetary:1 compensatory:1 amount:1 mca:1 cross:1 border:1 taxis:1 exchange:1 fluctuation:1 export:2 harsh:1 german:2 criticism:2 letter:1 weekend:1 chancellor:1 helmut:1 kohl:2 president:1 jacques:1 delors:1 clear:1 mainly:1 repeat:1 talk:1 alone:1 opposition:2 question:1 key:1 aspect:1 3:1 5:1 dlrs:1 scheme:3 butter:2 mountain:1 despite:1 spanish:1 portuguese:1 pay:2 disposal:1 one:1 tonne:1 unwanted:1 sell:1 knock:1 turn:1 animal:1 feed:1 subsidised:1 national:1 capital:1 due:1 reimburse:1 later:1 saving:1 another:1 plan:1 curb:1 milk:1 production:1 spain:1 portugal:1 anger:1 feel:1 force:1 massive:1 build:1 join:1 block:1 today:1 vote:1
|
EC COMMISSION DEFENDS FARM PROGRAM
The European Community's (EC)
executive Commission defended attacks on major elements of its
ambitious program to rid the EC of its controversial farm
surpluses, after strong attacks from northern states.
Britain and West Germany, backed by the Netherlands and
Denmark, opposed a proposed tax on edible oils and fats which
has already sparked strong protest from exporters to the EC led
by the U.S. and from EC consumer groups, diplomats said.
But EC Agriculture Commissioner Frans Andriessen told
journalists he had warned ministers that failure to agree the
tax, proposed last month as part of the Commission's annual
farm price package, would leave a large hole in the group's
budget.
He added that he hoped states had not yet made their mind
up for good. 'I hope the debate is still open, if not there will
be a formidable hole in the budget,' he said.
The shortfall could reach two billion dollars in 1988 and
would be only slightly less this year, he said.
Foreign ministers were taking a first look at the tax ahead
of farm ministers in a move described by diplomats as
unprecedented and welcomed by Andriessen as a sign ministers
recognised the importance of reforming the EC's farm policy.
The proposed tax is designed to provide the EC with extra
cash to finance community oilseed crops at their current levels
and to brake a dramatic decrease in olive oil consumption by
making it more competitive with other oils.
Andriessen noted the EC has over two mln olive oil
producers, mostly small farmers, who could be helped by the
tax.
'What we are suggesting is reasonable, it should be better
understood not just outside the community but at home,' he said.
Britain, normally a keen advocate of radical changes in the
EC's costly farm subsidies system, warned the proposal to
impose the tax on both domestic and imported oils and fats
could seriously damage the EC's trade relations with other
countries.
Britain also warned that the tax could hit developing
countries already receiving aid from the EC, they said.
The Commission also defended proposals to dismantle
Monetary Compensatory Amounts (MCA) -- a system of cross border
subsidies and taxes to level out foreign exchange fluctuations
for farm exports -- against harsh West German criticism.
In a letter this weekend from Chancellor Helmut Kohl to EC
executive Commission President, Jacques Delors, Kohl made clear
such a dismantling would mainly hit West German farmers.
Diplomats said West Germany again repeated its criticism at
the talks here but Andriessen told journalists that Germany had
been alone in its opposition. The question was a key aspect of
the Commission's farm price proposals, he added.
Ministers also agreed a 3.5 billion dlrs scheme to rid the
EC of its butter mountain, despite Spanish and Portuguese
opposition.
The scheme will pay for the disposal of one mln tonnes of
unwanted butter, by selling it at knock-down prices, turning it
into animal feed or exporting it at subsidised prices.
National capitals are due to be reimbursed later out of
savings from another plan to curb milk production.
Diplomats said Spain and Portugal have been angered by the
scheme, which they feel forces them to pay for massive
surpluses built up before they joined the community last year,
but the two countries did not block today's vote.
|
training/5762
|
training/5762 |@title aero:1 services:1 aeroe:1 pact:1 nomination:1 |@word aero:2 services:1 international:1 inc:1 say:1 sign:1 agreement:1 dibo:1 attar:3 control:1 39:1 pct:1 common:1 stock:1 three:1 nominee:2 board:1 select:1 addition:1 stephen:1 l:1 peistner:1 chairman:1 chief:1 executive:1 officer:1 mccrory:1 corp:2 james:1 n:1 c:1 moffat:1 iii:1 vice:1 president:1 secretary:1 eastover:1
|
AERO SERVICES <AEROE> IN PACT FOR NOMINATIONS
Aero Services International Inc
said it signed an agreement with Dibo Attar, who controls about
39 pct of its common stock, under which three nominees to
Aero's board have been selected by Attar.
In addition to Attar, the nominees are Stephen L. Peistner,
chairman and chief executive officer of <McCrory Corp> and
James N.C. Moffat III, vice president and secretary of
<Eastover Corp>.
|
training/5764
|
training/5764 |@title |@word australia:2 feb:2 current:2 account:2 deficit:2 750:2 mln:2 dlrs:2 vs:2 jan:2 1:2 23:2 billion:2 official:2
|
Australia Feb current account deficit 750 mln dlrs vs Jan 1.23 billion - official
Australia Feb current account deficit 750 mln dlrs vs Jan 1.23 billion - official
|
training/5765
|
training/5765 |@title australian:1 current:1 account:1 deficit:1 narrow:1 feb:1 |@word australia:1 current:3 deficit:13 narrow:4 750:1 mln:21 dlrs:10 february:6 1:3 23:1 billion:23 revise:5 29:1 january:8 statistics:1 bureau:5 say:6 compare:1 897:1 dlr:3 shortfall:2 year:8 early:3 merchandise:1 trade:2 record:1 42:1 surplus:6 246:1 287:1 162:1 1986:3 account:2 fall:3 low:2 end:2 range:1 forecast:1 700:1 one:1 make:2 market:1 economist:1 yesterday:1 fob:2 export:4 rise:3 2:13 82:1 74:1 72:1 54:1 earlier:5 import:2 77:1 99:1 3:2 01:1 70:1 four:1 pct:5 decline:1 rural:2 despite:1 11:1 wheat:1 offset:1 seven:1 non:2 notably:1 mineral:1 fuel:2 side:1 main:1 decrease:1 17:1 machinery:1 transport:1 equipment:1 21:2 net:2 service:3 146:1 253:1 268:1 192:1 sharply:1 104:1 balance:1 good:1 499:1 354:1 income:1 unrequited:1 transfer:2 646:1 736:1 543:1 official:3 capital:3 transaction:1 show:2 786:1 56:1 505:1 balancing:1 item:1 36:2 33:1 392:1 cumulative:3 first:1 eight:1 month:1 fiscal:1 87:1 june:1 30:1 widen:2 9:2 37:1 32:1 09:1 25:1 75:1 5:1 03:1 4:1 90:1 86:1
|
AUSTRALIAN CURRENT ACCOUNT DEFICIT NARROWS IN FEB
Australia's current deficit narrowed
to 750 mln dlrs in February from 1.23 billion (revised from
1.29 billion) in January, the Statistics Bureau said.
This compared with an 897 mln dlr shortfall a year earlier.
February merchandise trade recorded a 42 mln dlr surplus
against a 246 mln shortfall (revised from 287 mln) in January
and a 162 mln deficit in February 1986.
The current account deficit fell at the lower end of the
range of forecasts of 700 mln to one billion dlrs made by
market economists yesterday.
February FOB exports rose to 2.82 billion dlrs from 2.74
billion (revised from 2.72 billion) in January and 2.54 billion
a year earlier while FOB imports fell to 2.77 billion from 2.99
billion (revised from 3.01 billion) against 2.70 billion a year
earlier, the Bureau said.
It said a four pct decline in rural exports, despite an 11
pct rise in wheat exports, was more than offset by a seven pct
rise in non-rural exports, notably minerals and fuels.
On the import side, the main decreases were falls of 17 pct
in machinery and transport equipment and 21 pct in fuels, the
Bureau said.
The net services deficit narrowed to 146 mln dlrs from 253
mln (revised from 268 mln) in January and 192 mln a year
earlier, the Bureau said.
This made a sharply lower deficit of 104 mln dlrs on the
balance of goods and services against deficits of 499 mln in
January and 354 mln a year earlier.
Deficit on net income and unrequited transfers was 646 mln
dlrs against 736 mln in January and 543 mln a year earlier.
Official capital transactions in February showed a surplus
of 786 mln dlrs against a 2.56 billion surplus in January and a
505 mln surplus a year earlier.
Non-official capital and balancing item showed a 36 mln dlr
deficit against a 1.33 billion deficit in January and a 392 mln
surplus in February 1986, the Bureau said.
The cumulative current account deficit for the first eight
months of fiscal 1986/87 ending June 30 widened to 9.37 billion
dlrs from 9.32 billion a year earlier.
The cumulative trade deficit narrowed to 2.09 billion dlrs
from 2.21 billion and the services deficit to 2.25 billion from
2.75 billion but the transfers deficit widened to 5.03 billion
from 4.36 billion. The cumulative official capital surplus
narrowed to 2.90 billion dlrs from 3.86 billion.
|
training/5767
|
training/5767 |@title australian:1 reserve:1 fall:1 february:1 |@word australia:1 official:1 reserve:6 asset:2 fall:5 equivalent:1 8:1 50:1 billion:17 u:2 dlrs:3 february:3 9:2 15:1 january:4 compare:1 06:1 year:3 earlier:3 bank:2 say:2 australian:2 dollar:3 term:1 1:2 24:1 12:2 60:1 71:2 13:1 85:1 rise:2 792:1 mln:9 92:1 1986:1 exclude:1 valuation:1 effect:1 estimate:1 853:1 2:1 34:1 323:1 individual:1 value:1 end:2 respectively:1 bracket:1 gold:1 4:4 90:1 3:4 83:1 sdr:1 503:1 524:1 468:1 imf:1 position:1 354:1 365:1 312:1 25:1 99:1 foreign:1 exchange:1 78:1 07:1 32:1
|
AUSTRALIAN RESERVES FALL IN FEBRUARY
Australia's official reserve assets fell
to the equivalent of 8.50 billion U.S. Dlrs in February, from
9.15 billion in January, compared with 9.06 billion a year
earlier, the Reserve Bank said.
In Australian dollar terms, reserves fell by 1.24 billion
dlrs to 12.60 billion after falling 1.71 billion to 13.85
billion in January and rising 792 mln to 12.92 billion in
February 1986.
The bank said that excluding valuation effects, it
estimated reserves fell 853 mln dlrs after falling 2.34 billion
in January and rising 323 mln a year earlier.
The individual value of reserve assets in Australian
dollars at end-February with end-January and year-earlier
respectively in brackets were.
Gold 4.71 billion (4.90 billion and 3.83 billion), SDR's
503 mln (524 mln and 468 mln), IMF reserve position 354 mln
(365 mln and 312 mln), U.S. Dollars 3.25 billion (both 3.99
billion), other foreign exchange 3.78 billion (4.07 billion and
4.32 billion).
|
training/5768
|
training/5768 |@title |@word japan:2 february:2 wholesale:2 price:2 fall:2 0:4 1:2 pct:4 6:2 january:2 drop:2 official:2
|
Japan February wholesale prices fall 0.1 pct (0.6 pct January drop) - official
Japan February wholesale prices fall 0.1 pct (0.6 pct January drop) - official
|
training/5769
|
training/5769 |@title japan:1 wholesale:1 price:1 fall:1 0:1 1:1 pct:1 february:1 |@word japan:2 overall:1 wholesale:3 price:13 index:9 base:1 1980:1 fall:7 0:5 1:7 pct:12 february:5 month:9 earlier:8 86:1 4:2 second:1 consecutive:1 bank:5 say:5 6:2 january:4 december:1 9:2 year:9 21st:1 straight:2 drop:4 central:2 reduce:1 mainly:3 stem:1 recovery:1 world:3 crude:4 oil:5 customs:1 clear:1 basis:1 rise:3 around:1 17:1 dlrs:2 barrel:1 15:1 average:1 value:1 yen:1 dollar:1 8:2 153:1 50:1 154:1 67:1 16:1 184:1 55:1 export:2 7:4 reflect:2 cut:1 product:1 like:1 car:1 precision:1 instrument:1 due:3 severe:2 foreign:1 competition:2 import:1 57:1 sixth:1 successive:1 gain:1 continue:1 strength:1 29:1 domestic:2 91:1 24th:1 monthly:1 home:2 appliance:1 colour:1 television:1 sale:1 low:1 edible:1 add:1 decline:1 mark:1 large:1 since:1 start:1 compile:1 statistic:1 1960:1 current:1 system:1 likely:1 turn:1 upward:1 march:1 high:1 raw:1 material:1 expect:1
|
JAPAN WHOLESALE PRICES FALL 0.1 PCT IN FEBRUARY
Japan's overall wholesale price index
(base 1980) fell 0.1 pct in February from a month earlier to
86.4 for the second consecutive month-on-month fall, the Bank
of Japan said.
Wholesale prices fell 0.6 pct in January from December.
The index fell 9.1 pct from a year earlier for the 21st
straight year-on-year drop, the central bank said.
The reduced month-on-month drop mainly stemmed from the
recovery in world crude oil prices, it said.
On a customs-cleared basis, crude oil prices rose to around
17 dlrs a barrel in February from about 15 dlrs in January.
The average value of the yen against the dollar rose 0.8
pct to 153.50 in February from 154.67 in January and was up
16.8 pct from 184.55 a year earlier, the bank said.
The export price index in February fell 0.7 pct from a
month earlier reflecting price cuts in export products like
cars and precision instruments due to severe foreign
competition. The index was down 7.1 pct from a year earlier.
The import price index rose 1.1 pct from a month earlier to
57.4 for the sixth successive month-on-month gain mainly due to
the continued strength of world crude oil prices. But the index
was down 29 pct from a year earlier.
The domestic price index fell 0.1 pct to 91.9 in February,
its 24th straight monthly drop, mainly reflecting falls in
prices of home appliances such as colour televisions due to
severe sales competition at home. Lower edible oil prices added
to the decline.
The index was down 6.7 pct from a year earlier.
The domestic index marked its largest year-on-year drop of
7.1 pct in January since the central bank started compiling
such statistics in 1960 under its current system.
Wholesale prices are likely to turn upward in March as
higher world crude oil and raw material prices are expected,
the bank said.
|
training/5778
|
training/5778 |@title dollar:1 see:1 fall:1 unless:1 japan:1 spur:1 economy:1 |@word underlie:1 dollar:16 sentiment:3 bearish:2 operator:2 may:5 push:2 currency:3 new:2 low:1 unless:1 japan:2 take:2 step:3 stimulate:2 economy:1 pledge:1 paris:4 accord:3 foreign:3 exchange:1 analyst:1 poll:1 reuters:1 say:15 expect:1 try:1 psychological:1 barrier:1 150:1 00:2 yen:3 fall:2 even:2 level:1 senior:2 dealer:9 one:1 lead:2 bank:8 ease:1 week:1 remain:2 stable:1 around:2 151:1 50:1 six:1 major:1 industrial:1 country:1 agree:1 meeting:1 february:1 foster:1 stability:1 decline:3 long:1 term:1 drastic:2 unlikely:1 u:11 fear:3 renew:1 inflation:1 reduce:2 japanese:3 purchase:2 treasury:2 security:1 need:1 finance:1 deficit:1 generally:1 doubt:2 whether:1 economic:3 package:3 could:2 adopt:1 soon:1 would:3 effective:1 enough:1 trade:2 surplus:2 significantly:1 measure:2 probably:1 invite:1 weaken:1 tokyo:3 promise:1 fiscal:2 1987:1 budget:2 pass:1 boost:1 domestic:1 demand:1 increase:1 import:1 cut:1 debate:1 delay:1 opposition:1 boycott:1 parliamentary:1 business:1 propose:1 imposition:1 five:1 pct:1 sale:1 tax:1 government:1 slim:1 chance:2 produce:1 meaningful:1 near:2 future:1 protectionist:1 congress:1 grow:1 put:1 great:1 downward:1 pressure:1 factor:1 affect:1 change:1 since:1 add:1 underlying:1 due:1 still:1 sluggish:1 outlook:1 international:1 debt:2 crisis:1 trigger:1 brazil:1 unilateral:1 suspension:1 interest:2 payment:1 reduced:1 clout:1 reagan:1 administration:1 result:1 iran:1 contra:1 arm:1 scandal:1 trust:1 possibility:1 140:1 end:3 year:2 chemical:1 branch:2 vice:1 president:1 yukuo:1 takahashi:1 find:1 hard:1 either:1 way:1 possible:1 concerted:1 central:2 intervention:3 widespread:1 rumour:1 federal:1 reserve:1 telephone:1 york:1 ask:1 quote:1 last:1 wednesday:2 intervene:1 sell:3 rise:1 1:2 87:1 mark:1 england:1 also:1 apparently:1 sterling:1 london:1 60:1 dlrs:1 efficacy:1 many:1 likely:1 await:1 buying:1 however:1 first:1 national:1 chicago:1 assistant:1 manager:1 hiroshi:1 mochizuki:1 show:1 movement:1 least:1 march:2 seem:1 unwilling:1 see:1 strong:1 swing:1 company:1 close:1 book:1 31:1 weak:1 give:1 institutional:1 investor:1 paper:1 loss:1 holding:1 make:2 lose:1 securities:1 monetary:1 official:1 refrain:1 comment:1 month:1 avoid:1 influence:1 rate:1
|
DOLLAR SEEN FALLING UNLESS JAPAN SPURS ECONOMY
Underlying dollar sentiment is bearish,
and operators may push the currency to a new low unless Japan
takes steps to stimulate its economy as pledged in the Paris
accord, foreign exchange analysts polled by Reuters said here.
'The dollar is expected to try its psychological barrier of
150.00 yen and to fall even below that level,' a senior dealer
at one leading bank said.
The dollar has eased this week, but remains stable at
around 151.50 yen. Six major industrial countries agreed at a
meeting in Paris in February to foster currency stability.
Some dealers said the dollar may decline in the long term,
but a drastic fall is unlikely because of U.S. Fears of renewed
inflation and fears of reduced Japanese purchases of U.S.
Treasury securities, needed to finance the U.S. Deficit.
Dealers generally doubted whether any economic package
Japan could adopt soon would be effective enough to reduce its
trade surplus significantly, and said such measures would
probably invite further U.S. Steps to weaken the dollar.
Under the Paris accord, Tokyo promised a package of
measures after the fiscal 1987 budget was passed to boost
domestic demand, increase imports and cut its trade surplus.
But debate on the budget has been delayed by an opposition
boycott of Parliamentary business over the proposed imposition
of a five pct sales tax, and the government has only a slim
chance of producing a meaningful economic package in the near
future, the dealers said.
If no such steps are taken, protectionist sentiment in the
U.S. Congress will grow, putting greater downward pressure on
the dollar, they said.
The factors affecting the U.S. Currency have not changed
since before the Paris accord, they added.
'Underlying sentiment for the dollar remains bearish due to
a still-sluggish U.S. Economic outlook, the international debt
crisis triggered by Brazil's unilateral suspension of interest
payments on its foreign debts and the reduced clout of the
Reagan administration as a result of the Iran/Contra arms
scandal,' said a senior dealer at a leading trust bank.
'There is a possibility that the dollar may decline to
around 140.00 yen by the end of this year,' said Chemical Bank
Tokyo branch vice president Yukuo Takahashi.
But operators find it hard to push the dollar either way
for fear of possible concerted central bank intervention.
Dealers said there were widespread rumours that the U.S.
Federal Reserve telephoned some banks in New York to ask for
quotes last Wednesday, and even intervened to sell the dollar
when it rose to 1.87 marks.
The Bank of England also apparently sold sterling in London
when it neared 1.60 dlrs on Wednesday, they said.
But other dealers said they doubted the efficacy of central
bank intervention, saying it may stimulate the dollar's decline
because many dealers are likely to await such dollar buying
intervention as a chance to sell dollars.
However, First National Bank of Chicago Tokyo Branch
assistant manager Hiroshi Mochizuki said 'The dollar will not
show drastic movement at least to the end of March.'
Other dealers said the U.S. Seems unwilling to see any
strong dollar swing until Japanese companies close their books
for the fiscal year ending on March 31, because a weak dollar
would give Japanese institutional investors paper losses on
their foreign holdings, which could make them lose interest in
purchases of U.S. Treasury securities.
U.S. Monetary officials may refrain from making any
comments this month to avoid influencing rates, they said.
|
training/5779
|
training/5779 |@title market:1 welcome:1 low:1 australian:1 payment:1 deficit:1 |@word australian:1 dollar:5 rise:2 40:1 point:2 money:1 market:4 interest:3 rate:3 retreat:2 well:1 expect:4 improvement:2 february:3 current:3 account:3 deficit:5 economist:3 dealer:4 cautious:1 identify:1 start:1 downward:1 trend:1 narrow:1 750:2 mln:4 dlrs:8 1:1 23:1 billion:9 january:3 hit:1 13:4 82:2 1985:1 86:1 end:2 june:1 currency:2 jump:1 0:5 6858:1 63:1 u:2 trade:2 high:6 6875:2 around:2 6864:1 69:3 get:1 cent:2 write:1 one:2 say:9 foreign:2 exchange:1 buyer:1 go:4 long:3 low:2 figure:3 sell:1 30:1 6820:1 release:2 dlr:2 forecast:1 analyst:1 would:1 welcome:1 march:2 banque:1 national:1 de:1 paris:1 bnpp:1 senior:2 peter:1 nicoll:2 caution:1 term:3 import:2 substitution:1 export:4 industry:1 perhaps:1 tomorrow:1 lloyds:1 bank:2 nza:1 ltd:2 chief:1 buttrose:3 42:2 surplus:1 encouraging:1 2:4 77:1 99:1 warn:1 outlook:1 rural:1 iron:1 coal:1 remain:1 poor:1 remember:1 pay:1 something:1 like:1 seven:1 eight:1 simply:1 service:1 debt:1 away:1 near:1 900:1 add:1 acceptable:1 anz:1 banking:1 group:1 anza:1 ian:1 little:2 big:1 question:1 whether:1 could:1 sustain:1 fob:1 revised:1 74:2 respond:1 quickly:1 news:1 90:1 day:1 bill:1 yield:3 fall:2 16:4 45:1 pct:2 early:1 50:1 yesterday:2 65:1 10:1 year:1 bond:1 66:1 68:1 87:1 stock:1 easy:1 midsession:1 broker:1 datum:1 impact:1 trading:1
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MARKET WELCOMES LOWER AUSTRALIAN PAYMENTS DEFICIT
The Australian dollar rose more than 40
points and money market interest rates retreated on the better
than expected improvement in the February current account
deficit, but economists and dealers were cautious about
identifying it as the start of a downward trend.
The current account deficit narrowed to 750 mln dlrs in
February from 1.23 billion in January. It hit 13.82 billion
dlrs in 1985/86 to end-June.
The currency jumped to 0.6858/63 U.S. Dlrs and traded as
high as 0.6875 before retreating to around 0.6864/69.
'It's got 69 cents written all over it,' one dealer said.
Foreign exchange dealers said some buyers had gone long on
the dollar expecting a lower figure and sold it down about 30
points to 0.6820 U.S. Dlrs before the release.
The 750 mln dlr deficit was at the lower end of forecasts
and analysts said the market would welcome any figure below one
billion dlrs for March.
Banque National de Paris <BNPP.A> senior dealer Peter
Nicolls cautioned that in the long term the currency and
interest rates were too high for import substitution and export
industries.
Nicolls said he expected the dollar to go as high as 0.6875
and perhaps to 69 cents tomorrow.
<Lloyds Bank NZA Ltd> chief economist Will Buttrose said
the 42 mln dlr trade surplus was encouraging as were imports at
2.77 billion dlrs, down from 2.99 billion in January.
But he warned that the outlook for rural and iron and coal
exports remained poor. 'We should remember we are paying
something like seven to eight billion dollars simply to service
our foreign debt and that is not going to go away in the near
term,' Buttrose said.
Buttrose said he expected a March deficit of around 900 mln
dlrs, and added 'Any figure under a billion dollars will be
acceptable (to the markets).'
ANZ Banking Group Ltd <ANZA.S> senior economist Ian Little
said the big question was whether the improvement in exports
could be sustained. February FOB exports rose to 2.82 billion
dlrs from a revised 2.74 billion in January.
Interest rates responded quickly to the deficit news, with
90-day bank bill yields falling to 16.42-16.45 pct from early
highs of 16.50 and yields yesterday as high as 16.65.
Longer term yields fell with 10-year bonds at 13.66/68 pct
from 13.74 before the release and highs of 13.87 yesterday.
The stock market was easier at midsession but brokers said
the current account data had little impact on trading.
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training/5780
|
training/5780 |@title hongkong:1 bank:1 say:1 close:1 deal:1 property:1 sale:1 |@word hongkong:1 shanghai:1 banking:1 corp:1 hkbh:1 hk:1 close:1 deal:1 sale:1 commercial:1 building:1 hong:1 kong:1 mongkok:1 business:1 district:1 bank:1 spokesman:2 say:2 21:1 storey:1 wayfoong:1 plaza:1 likely:1 sell:1 280:1 mln:1 h:1 k:1 dlrs:1 decline:1 identify:1 buyer:1 give:1 detail:1
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HONGKONG BANK SAYS CLOSE TO DEAL ON PROPERTY SALE
Hongkong and Shanghai Banking Corp
<HKBH.HK> is close to a deal on the sale of a commercial
building in Hong Kong's Mongkok business district, a bank
spokesman said.
He said the 21-storey Wayfoong Plaza was likely to be sold
for about 280 mln H.K. Dlrs but declined to identify the buyer.
The spokesman gave no further details.
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training/5782
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training/5782 |@title thai:1 1:1 money:1 supply:1 rise:1 january:1 |@word thailand:2 1:4 money:1 supply:1 rise:3 9:1 8:1 pct:8 estimate:2 117:1 3:2 billion:2 baht:2 january:3 increase:3 6:3 december:4 bank:2 say:3 year:4 grow:1 23:1 18:1 5:2 central:1 2:2 7:1 686:1 4:1 expand:1 13:1 12:1
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THAI M-1 MONEY SUPPLY RISES IN JANUARY
Thailand's M-1 money supply rose 9.8
pct to an estimated 117.3 billion baht in January after
increasing 6.6 pct in December, the Bank of Thailand said.
It said year-on-year M-1 grew 23.1 pct in January after an
18.5 pct increase in December.
The central bank said M-2 rose 1.7 pct to an estimated
686.5 billion baht in January after a 2.4 pct increase in
December while year-on-year it expanded 13.3 pct after a 12.6
pct rise in December.
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training/5783
|
training/5783 |@title japan:1 release:1 gnp:1 figure:1 later:1 today:1 |@word economic:1 planning:1 agency:2 announce:1 gross:1 national:1 product:1 gnp:2 figure:1 october:1 december:1 quarter:2 today:1 1700:1 hrs:1 local:1 time:1 0800:1 gmt:1 official:1 tell:1 reuters:1 july:1 september:1 rise:1 0:1 6:1 pct:1 previous:1 three:1 month:1
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JAPAN TO RELEASE GNP FIGURES LATER TODAY
The Economic Planning Agency will
announce gross national product (GNP) figures for the
October/December quarter today at 1700 hrs local time (0800
gmt), Agency officials told Reuters.
In the July/September quarter, GNP rose 0.6 pct from the
previous three months.
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training/5785
|
training/5785 |@title taiwan:1 1986:1 balance:1 payment:1 surplus:1 record:1 |@word taiwan:2 balance:1 payment:1 surplus:2 widen:1 record:2 16:2 62:1 billion:9 u:3 dlrs:3 calendar:1 1986:2 9:1 35:1 1985:2 central:1 bank:2 say:3 official:1 attribute:1 increase:2 mainly:1 grow:1 trade:2 8:1 11:1 2:1 deficit:1 invisible:3 narrow:1 740:1 mln:1 1:1 97:1 earning:1 rise:1 6:1 77:1 5:1 09:1 spending:1 climb:1 7:2 51:1 06:1
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TAIWAN 1986 BALANCE OF PAYMENTS SURPLUS IS RECORD
Taiwan's balance of payments surplus
widened to a record 16.62 billion U.S. Dlrs in calendar 1986
from 9.35 billion in 1985, the central bank said.
A bank official attributed the increase mainly to Taiwan's
growing trade surplus, which increased to a record 16.8 billion
U.S. Dlrs in 1986 from 11.2 billion in 1985.
He said the deficit on invisible trade narrowed to 740 mln
U.S. Dlrs from 1.97 billion.
Invisible earnings rose to 6.77 billion from 5.09 billion
while invisible spending climbed to 7.51 billion from 7.06
billion, he said.
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