reuters-21578-json

[ { "title": "CHRYSLER <C> LATE MARCH U.S. CAR SALES UP", "body": "Chrysler Corp said car sales for the\nMarch 21-31 period rose 20.2 pct to 40,454 from 33,669 a year\nearlier.\n For the month of March, it said auto sales increased 6.3\npct to 96,649 from 90,945.\n Chrysler said U.S. truck sales in late March jumped 65.2\npct to 28,698 from 17,372 a year ago. For the entire month,\ntruck sales advanced 28.9 pct to 63,283 from 49,102, it said.\n The company said it was still tabulating year-to-date\nfigures.\n Reuter\n\u0003", "date": " 3-APR-1987 12:41:43.18", "places": [ "usa" ], "id": "13001" }, { "title": "WALL STREET STOCKS/COMPAQ COMPUTER <CPQ>", "body": "Compaq Computer Corp, IBM's chief\nrival in the personal computer market, scored a big gain on\nWall Street today. Compaq's stock rose 1-3/8 to 32-1/4 on\nvolume of 1.3 mln shares.\n \"The rationale for the move,\" one trader said, \"is that the\ndamage from the IBM announcement yesterday was less than\nexpected.\" He said Compaq's stock had been under pressure\nrecently because of anticipation of IBM's unveiling of a new\nline of personal computers.\n International Business Machines <IBM> introduced four new\npersonal computers and more than 100 new peripheral products.\nBut analysts said the new computers, though they do contain a\nlot of proprietary concepts, will not be as hard to copy as\nsome other PC makers had feared.\n \"The long range issue here is who wins and who loses in the\nPC business, and that issue was not resolved yesterday and is\nunlikely to be decided any time soon,\" analyst Mark Stahlman of\nSanford C. Bernstein and Co said.\n Stahlman reaffirmed his recommendation of Compaq and Apple\nComputer Inc <AAPL>.\n Stahlman said \"The critical investment question now is who\nwill have a pickup in sales in the near term. We expect to see\na strong demand setting for PCs for the rest of this year, and\nthat will boost the revenues for all of the major PC vendors.\"\n \"The first quarter was the strongest PC sales period on\nrecord for Compaq, Apple and IBM,\" Stahlman said, \"and I don't\nthink the IBM announcement is going to change that trend soon.\"\n \"In anticipating the IBM announcement, Compaq has made\npricing adjustments necessary to compete for its immediate\npurposes,\" he said.\n Reuter\n\u0003", "date": " 3-APR-1987 12:42:15.79", "places": [ "usa" ], "id": "13002" }, { "title": "NORANDA SETS TEMPORARY MINE SHUTDOWN", "body": "<Noranda Inc> said\nproduction will remain shut down at its fire-damaged copper\nmine here until it can completely examine the mine.\n The fire, which started Wednesday and burned itself out\nlate yesterday, killed one miner and trapped 56 others\nunderground for about 24 hours. The 56 were eventually brought\nsafely out of the mine.\n Company spokesman Dale Coffin said the investigation could\ntake from a few days to several weeks, but would not be more\nspecific.\n Noranda said that, when it resumes production, it plans to\noperate the mine at about one-third of the normal 72,000 metric\ntons annual finished capacity.\n The fire weakened part of the mine's support structure,\nCoffin said.\n Noranda said if it decides to keep the mine open, it would\ntake four or five months before it could resume full\nproduction.\n Reuter\n\u0003", "date": " 3-APR-1987 12:43:33.42", "topics": [ "copper" ], "places": [ "canada" ], "id": "13003" }, { "title": "CANADA BUDGET DEFICIT RISES IN JANUARY", "body": "The Canadian government's budget deficit\nrose to 1.78 billion dlrs in January from 1.67 billion dlrs in\nthe same month last year, the finance department said.\n But the deficit in the first 10 months of the fiscal year\nwhich began on April 1, 1986, fell to 22.36 billion dlrs from\n25.74 billion dlrs in the same period a year ago.\n January revenues rose to 7.96 billion dlrs from 7.56\nbillion dlrs while expenditures grew to 9.74 billion dlrs from\n9.23 billion dlrs. Revenues in the first 10 months increased to\n70.06 billion dlrs from 62.30 billion while expenditures grew\nto 92.42 billion dlrs from 88.05 billion. \n Reuter\n\u0003", "date": " 3-APR-1987 12:48:00.50", "places": [ "canada" ], "id": "13004" }, { "title": "CIS TECHNOLOGIES<CIH> TO SELL SHARES TO SWISS CO", "body": "CIS Technologies Inc said it\nexecuted a formal share purchase agreement with Swiss\nReinsurance Co of Zurich, Switzerland.\n Under terms of the agreement, Swiss Re will acquire 5.5 mln\nnewly issued CIS stock at 2.50 dlrs a share, or 13.8 mln dlrs.\nThis purchase represents 30 pct of the outstanding shares.\n Swiss Re will acuqire 500,000 of the shares immediately and\nremaining shares will be bought after a due diligence report is\ncompleted by auditors.\n The transaction is expected to be complete by June 11.\n Reuter\n\u0003", "date": " 3-APR-1987 12:49:26.47", "topics": [ "acq" ], "places": [ "usa", "switzerland" ], "id": "13005" }, { "title": "COPLEY PROPERTIES INC <COP> INCREASES DIVIDEND", "body": "Qtly div 42 cts vs 41.5 cts prior\n Payable APril 28\n Record April 14\n Reuter\n\u0003", "date": " 3-APR-1987 12:51:05.81", "topics": [ "earn" ], "places": [ "usa" ], "id": "13006" }, { "title": "COLOMBIAN INFLATION STABLE AT AROUND 20 PCT", "body": "Colombia's cost of living index rose 2.71\npct in March, after a 2.03 pct increase in February and a 2.21\npct rise in March 1986, the government statistics institute\nsaid.\n The result brought year-on-year inflation to 20.36 pct\ncompared with 22.65 pct at end-March 1986 and 19.77 pct for the\nyear ending February 1987.\n The government has predicted that inflation this year would\nbe slightly lower than in 1986 when it reached 20.9 pct.\n REUTER\n\u0003", "date": " 3-APR-1987 12:52:18.65", "topics": [ "cpi" ], "places": [ "colombia" ], "id": "13007" }, { "title": "FHLBB SAYS MORTGAGE RATES CONTINUE DECLINE", "body": "The Federal Home Loan Bank Board said\nhome mortgage rates fell from early February to early March to\ntheir lowest point in nine years, but the rate of decline was\nslower than it had been in recent months.\n The bank board said the average effective commitment rate\nfor fixed-rate mortgages for single family homes and a 25 pct\nloan-to-price ratio with a maturity of at least 15 years was\n9.48 pct in early March.\n The rate was four basis points lower than a month ago, only\none-eighth the size of decline in the previous month, the bank\nboard said.\n Rates for adjustable-rate mortgages decline eight basis\npoints from early February to 8.43 pct in early March, the bank\nboard said. The drop was far less than the 15 basis point\ndecline in the previous period, the agency said.\n The average effective interest rate on all loans closed by\nmajor mortgage lenders declined nine basis points from early\nFebruary to early March, the agency said. The fall brought the\nrate to 9.14 pct was the lowest since December 1977, it said.\n The effective rate for ARMS was 8.39 pct, 15 basis points\nbelow a month earlier. For fixed-rate loans it was 9.36 pct, 14\nbasis points below a month earlier, the agency said.\n Reuter\n\u0003", "date": " 3-APR-1987 12:52:47.08", "topics": [ "interest" ], "places": [ "usa" ], "id": "13008" }, { "title": "NYFE SEAT SELLS FOR 1,500 DLRS", "body": "The New York Stock Exchange said a seat\non the New York Futures Exchange sold for 1,500 dlrs, which is\nup 250 dlrs from the previous sale yesterday.\n The Exchange said the current bid is 1,250 and the current\noffer is 1,500 dlrs.\n Reuter\n\u0003", "date": " 3-APR-1987 12:56:19.95", "places": [ "usa" ], "id": "13009" }, { "title": "CANADIAN MONEY SUPPLY M-1 FALLS 291 MLN DLRS IN WEEK, BANK OF CANADA SAID\n", "date": " 3-APR-1987 12:56:53.22", "topics": [ "money-supply" ], "places": [ "canada" ], "id": "13010" }, { "title": "BENEFICIAL <BNL> UNIT SALE APPROVED", "body": "Beneficial Corp said the sale of its\nAmerican Centennial Insurance Co subsidiary to <First Delaware\nHoldings Inc> was approved by the Delaware Insurance\nDepartment.\n Under the transaction, American Centennial will receive a\ncash infusion of 200 mln dlrs, including the settlement of tax\nsharing agreements with Beneficial Corp, Beneficial said.\n It will also receive 25 mln dlrs from Beneficial\nInternational Insurance Co, another Beneficial subsidiary being\npurchased by the management-led group of First Delaware, the\ncompany said.\n Reuter\n\u0003", "date": " 3-APR-1987 12:58:50.26", "topics": [ "acq" ], "places": [ "usa" ], "id": "13011" }, { "title": "LARGER VOLUME SEEN ON EUROPEAN OPTIONS EXCHANGES", "body": "European options exchanges will see\nspectacular growth over the next five years as more\nprofessional investors discover the options markets, Bernard\nReed, manager of the London options exchange said.\n At an options outlook seminar to mark tomorrow's official\nopening of a new Amsterdam options exchange (EOE) building, he\nforecast increasing interest from banks and institutional\ninvestors, using options for portfolio insurance.\n \"But the dominance by the professionals should not make us\nneglect private clients,\" he noted. \"Successful exploitation of\nretail business has been one of the keys to success.\"\n Reed said derived option products in particular will become\na popular instrument for managing equity risks. On the Chicago\nBoard Options Exchange (CBOE), the cash-settled S&P 100 index\noption is the most traded in the world.\n Dutch Stock Index Fund options to be relaunched on May 18\nand the upcoming options on London's FTSE 100 index will see a\n30 pct yearly turnover growth until 1990, Reed estimated.\n The CBOE and the Chicago Mercantile Exchange have agreed\nwith Morgan Stanley to trade options and futures on the capital\ninternational EAFE index which will let investors participate\nin worldwide market moves.\n Reed said he did not believe in globalising the option\nbusiness by introducing international products, because this\nwould intensify competition among the exchanges, but he did see\na future for global rules and regulations.\n Reuter\n\u0003", "date": " 3-APR-1987 12:59:13.76", "places": [ "netherlands" ], "id": "13012" }, { "title": "TIERCO <TIER> SELLS NOTE", "body": "Tierco Group INc said it sold at\npar to the Kuwait Real Estate INvestment and Management Co its\n10 mln dlrs 75. pct senior subordinated note due 1997, together\nwith warrants to buy 1.1 mln shares of common stock.\n The warrant may be exercised within five years at 9.50 dlrs\nper share.\n Reuter\n\u0003", "date": " 3-APR-1987 13:05:49.54", "places": [ "usa" ], "id": "13013" }, { "title": "<ITT CANADA LTD> YEAR NET", "body": "Shr 5.56 dlrs vs 3.88 dlrs\n Net 47.5 mln vs 33.2 mln\n Revs 254.5 mln vs 243.5 mln\n Note: shr after preferred dividends\n ITT Corp <ITT> owns 100 pct of ITT Canada common shares\n Reuter\n\u0003", "date": " 3-APR-1987 13:05:53.71", "topics": [ "earn" ], "places": [ "canada" ], "id": "13014" }, { "title": "CALIFORNIA MICRO DEVICES <CAMD> IN DEFENSE DEAL", "body": "California Micro Devices Corp\nsaid an additional 3.2 mln dlrs contract was received from\nGeneral Dynamics Corp <GD> to supply electronic components\ncontained in the guidance control for Defense Electronics\nSystems.\n This contract follows a 750,000 dlrs contract awarded last\nyear.\n Shipments will begin in APril 1987.\n The company also disclosed that Fuji Photo Film Co Ltd is\nthe licensee of a one mln dlrs technology agreement announced\nlast fall.\n Reuter\n\u0003", "date": " 3-APR-1987 13:06:02.09", "places": [ "usa" ], "id": "13015" }, { "title": "STEWART INFORMATION RESCHEDULES ANNUAL MEETING", "body": "Stewart INformation Services Corp said\nit rescheduled its annual meeting to May 18.\n It had been scheduled for APril 24.\n Reuter\n\u0003", "date": " 3-APR-1987 13:06:05.40", "places": [ "usa" ], "id": "13016" }, { "title": "FISERVE <FISV> GETS BUSINESS WORTH ONE MLN DLRS", "body": "FIserve Inc said 14 savings and\nloans with 1.5 billion dlrs in cumulative assets will transfer\ntheir data processing to FIserve from Midwest Commerce Data\nCorp, a unit of Midwest Commerce Corp.\n About one mln dlrs a year in new recurring revenues will be\ngenerated for FIserve, it said.\n Reuter\n\u0003", "date": " 3-APR-1987 13:06:11.03", "places": [ "usa" ], "id": "13017" }, { "title": "MONY REAL <MYM> REPORTS PORTFOLIO", "body": "Mony Real Estate Investors Trust said\nits investment portfolio consists of 137.1 mln dlrs of\nmortgages with an average maturity of less than six years, 43.7\nmln dlrs of real estate equities and 2.7 mln dlrs of foreclosed\nreal estate.\n The trust's exposure to oil-dependent regions is limited to\n2.2 mln dlrs, it said.\n It said it accepted an offer to sell foreclosed property\nand increased its loss reserve by 750,000 dlrs in anticipation\nof the sale.\n Reuter\n\u0003", "date": " 3-APR-1987 13:14:52.25", "places": [ "usa" ], "id": "13018" }, { "title": "CANADIAN MONEY SUPPLY FALLS IN WEEK", "body": "Canadian narrowly-defined money supply\nM-1 fell 291 mln dlrs to 32.44 billion dlrs in the week ended\nMarch 25, Bank of Canada said.\n M-1-A, which is M-1 plus daily interest chequable and\nnon-personal deposits, fell 7 mln dlrs to 75.14 billion dlrs\nand M-2, which is M-1-A plus other notice and personal\nfixed-term deposits, fell 56 mln dlrs to 177.54 billion dlrs.\n M-3, which is non-personal fixed term deposits and foreign\ncurrency deposits of residents booked at chartered banks in\nCanada, rose 321 mln dlrs to 216.67 billion dlrs.\n Chartered bank general loans outstanding fell 169 mln dlrs\nto 126.03 billion dlrs.\n Canadian liquid plus short term assets rose 72 mln dlrs to\n36.47 billion dlrs and total Canadian dollar major assets of\nthe chartered banks rose 507 mln dlrs to 224.22 billion dlrs.\n Chartered bank net foreign currency assets fell 231 mln\ndlrs to minus 2.00 billion dlrs. \n Notes in circulation totalled 16.16 billion dlrs, up 50 mln\ndlrs from the week before.\n Government cash balances fell 1.17 billion dlrs to 4.63\nbillion dlrs in week ended April 1.\n Government securities outstanding rose 1.09 billion dlrs to\n226.42 billion dlrs in week ended April 1, treasury bills rose\n1.35 billion dlrs to 76.95 billion dlrs and Canada Savings\nBonds fell 47 mln dlrs to 43.87 billion dlrs. \n Reuter\n\u0003", "date": " 3-APR-1987 13:17:05.48", "topics": [ "money-supply" ], "places": [ "canada" ], "id": "13019" }, { "title": "COPLEY PROPERTIES <COP> TO INVEST IN JOINT PACT", "body": "Copley Properties Inc said the company\nwill invest 9,500,000 dlrs in a joint venture to acquire and\ndevelop 33.4 acres of industrial land in Hayward, Calif.\n Copley said it will own 60 pct of the project and be\nentitled to a 10 pct preferential return on its investment plus\n60 pct of all excess cash from operations, refinancings and\nother capital transactions.\n Reuter\n\u0003", "date": " 3-APR-1987 13:17:16.61", "places": [ "usa" ], "id": "13020" }, { "title": "UNION TO PROTEST DART'S SUPERMARKETS <SGL> BID", "body": "The United Food And Commercial\nWorkers said that more than 1,000 rank-and-file members of the\nunion will demonstrate Monday at Dart Group Corp's headquarters\nprotesting Dart's proposed 1.73 billion dlr takover of\nSupermarkets General <SGL>.\n Supermarkets is best known for its Pathmark chain of\nsupermarket drug stores in the New York and New Jersey area and\nalso owns Rickels home centers.\n The union said that it is firmly against the Dart bid\nbecause \"workers have always ended up with a raw deal in the\ncurrent takeover mania.\"\n A Union statement said: \"We do not intend to allow our\nmembers to pick up the tab for Supermarket General's executives\nand the bankers or the Dart Group who stand to make millions.\"\n Dart is controlled by the Haft family of Washington, which\nlast year made a bid for California-based Safeway Stores Inc.\nThe Hafts lost, but walked away with at least 100 mln dlrs in\nprofits, analysts estimate.\n The union said that Dart's Safeway bid forced a major\nrestructuring at Safeway to pay the Hafts and their lawyers and\ncaused a loss of thousands of jobs.\n Reuter\n\u0003", "date": " 3-APR-1987 13:18:53.02", "topics": [ "acq" ], "places": [ "usa" ], "id": "13021" }, { "title": "PAN AM <PN> MARCH LOAD FACTOR ROSE TO 60.6 PCT", "body": "Pan Am Corp's Pan American World\nAirways said its load factor rose to 60.6 pct last month from\n54.9 pct in March 1986.\n The airline said its scheduled March traffic increased 14.6\npct to 1.94 billion revenue passenger miles from 1.70 billion\nlast year as available seat miles rose 3.8 pct to 3.21 billion\nfrom 3.09 billion.\n It said the March traffic increase was the third\nconsecutive month of year over year traffic growth for Pan Am.\n For the first quarter, Pan Am said, its load factor\nincreased to 56.3 pct from 53.4 pct as scheduled traffic\nincreased 10.2 pct to 5.25 billion miles and available seat\nmiles increased 4.5 pct to 9.32 billion.\n The airlines said its March scheduled freight ton miles\nincreased 1.5 pct to 53.3 mln from 52.5 mln and was up 0.4 pct\nfor the first quarter to 134.6 mln.\n Reuter\n\u0003", "date": " 3-APR-1987 13:19:08.87", "places": [ "usa" ], "id": "13022" }, { "title": "FCS LABORATORIES <FCSI> TERMINATES DEAL TALKS", "body": "FCS Laboratories Inc said merger\ndiscussions with an unnamed privately-held company in the\nhealth care field have ended without an agreement.\n The previously announced negotiations began last August,\nthe company said.\n \"It's disappointing to spend so much time on these\nnegotiations and have them fail,\" said FCS chairman Nicholas\nGallo III. \"But the discussions could not produce a deal\nacceptable to our board in the context of the company's\nstronger financial position today as compared to six months\nago.\"\n Gallo said FCS will stop actively seeking potential merger\npartners, but will respond to serious inquiries.\n \"We are determined to follow our plan to restore this\ncompany to profitability,\" he said. \"To continue actively\nsearching for potential acquirers inherently forces us to\npostpone the implementation of critical decisions which are\npart of the plan.\"\n The company, which has 4,475,930 common shares outstanding,\nreaffirmed it expects to be profitable in the second half of\nthe fiscal year ending September 30, 1987.\n Reuter\n\u0003", "date": " 3-APR-1987 13:21:48.58", "topics": [ "acq" ], "places": [ "usa" ], "id": "13023" }, { "title": "WHITE HOUSE SAYS INTEREST RATES REFLECT MARKET", "body": "The White House said the rise in\ninterest rates was \"unfortunate in a general sense\" but reflected\nmarket forces.\n \"There's always movement up and down and the basic fact is\nthat we believe the economy is strong and growing and there\nwill always be fluctuations in the interest rate, but the\neconomy is sound and in good shape,\" spokesman Marlin Fitzwater\nsaid.\n Citibank raised its prime rate by one quarter of a point\nand the move was followed by other banks.\n Reuter\n\u0003", "date": " 3-APR-1987 13:23:23.58", "topics": [ "interest" ], "places": [ "usa" ], "id": "13024" }, { "title": "REGAL PETROLEUM LTD <RPLO> YEAR", "body": "Shr loss nine cts\n Net loss 1.4 mln\n Revs 630,118 dlrs\n NOTE:Due to change in fiscal year, prior 4th qth and year\ncannot be presented on comparable basis. 1986 loss includes\nwritedowns approximating 1.4 mln dlrs.\n Reuter\n\u0003", "date": " 3-APR-1987 13:25:20.85", "topics": [ "earn" ], "places": [ "usa" ], "id": "13025" }, { "title": "CANTERBURY PRESS INC YEAR NOV 30", "body": "Shr 1.1 cts vs 1.7 cts\n Net 26,708 vs 35,084\n Revs 447,548 vs 243,161\n NOTE:1986 net includes 4,300 dlrs gain from tax credit and\n1985 includes gain of 8,300 dlrs gain from credit.\n Reuter\n\u0003", "date": " 3-APR-1987 13:26:03.77", "topics": [ "earn" ], "places": [ "usa" ], "id": "13026" }, { "title": "GRAPHIC MEDIA INC <GMED> YEAR", "body": "Shr nine cts vs 19 cts\n Net 188,000 vs 362,000\n Revs 20.4 mln vs 11.3 mln\n NOTE:1985 restated for reversal of certain tax benefits.\n1986 and 1985 reflects preferred stock dividend requirements.\n Reuter\n\u0003", "date": " 3-APR-1987 13:26:44.58", "topics": [ "earn" ], "places": [ "usa" ], "id": "13027" }, { "date": " 3-APR-1987 13:27:04.11", "id": "13028" }, { "date": " 3-APR-1987 13:27:08.42", "id": "13029" }, { "title": "BURLINGTON <BNI> UNIT SETTLES BONDHOLDER SUIT", "body": "Burlington Northern Inc said its\nBurlington Northern Railroad Co unit reached an agreement in\nprinciple to settle a class action lawsuit filed against the\ncompany in May 1985 by holders of two series of the company's\nbonds.\n It said the settlement arrangement calls for the company to\nestablish a cash settlement fund of 35.5 mln dlrs, which would\nbe distributed to the bondholders after deductions for\nattorney's fees.\n The lawsuit, filed by holders of its four pct Prior Lien\nbonds due January 1, 1997 and its three pct General Lien Bonds\ndue January 1, 2047, sought to prevent the release of\ncollateral, the company said.\n If the settlement agreement is approved, the trading prices\nof the bonds will decline substantially because they will no\nlonger reflect the speculative premiums at which the bonds\ncurrently trade, Burlington Northern also said.\n It said the settlement is subject to negotiation by\nBurlington Northern, the Citibank N.A. unit of Citicorp <CCI>\nand Bankers Trust Co <BT>, the bonds' trustees.\n Reuter\n\u0003", "date": " 3-APR-1987 13:27:38.57", "places": [ "usa" ], "id": "13030" }, { "title": "RICHARDSON ELECTRONICS <RELL> 3RD QTR FEB 28 NET", "body": "Shr 20 cts vs 20 cts\n Net 1,981,000 vs 1,689,000\n Rev 24.7 mln vs 19.6 mln\n Nine months\n Shr 59 cts vs 53 cts\n Net 5,855,000 vs 4,360,000\n Rev 70.9 mln vs 51.9 mln\n NOTE: Fiscal 1986 per share data reflects dilutive effect\nof shares issued for April 1986 convertible debenture\nconversion. Company's full name is Richarson Electronics Ltd.\n Reuter\n\u0003", "date": " 3-APR-1987 13:27:46.34", "topics": [ "earn" ], "places": [ "usa" ], "id": "13031" }, { "title": "DIVERSIFIED HUMAN RESROUCES GROUP <HIRE> YEAR", "body": "Shr loss five cts vs profit 72 cts\n Net loss 79,069 vs profit 829,737\n Revs 14.4 mln vs 14.1 mln\n NOTE:1985 includes extraordainy credit of 11 cts.\n Reuter\n\u0003", "date": " 3-APR-1987 13:29:07.38", "topics": [ "earn" ], "places": [ "usa" ], "id": "13032" }, { "title": "ALASKA AIR <ALK> UNIT HAS HIGHER LOAD FACTOR", "body": "The Alaska Airlines unit of Alaska Air\nGroup Inc said its March load factor rose to 58.1 pct from 57.3\npct a year earlier, but its year-to-date load factor dropped to\n51.8 pct from 52.6 pct last year.\n March revenue passenger miles rose five pct to 225.9 mln\nfrom 215.6 mln, but year-to-date revenue miles fell one pct to\n586.7 mln from 593 mln.\n Available seat miles for the month totaled 389.1 mln, a\nthree pct increase over the 376.1 mln posted for March 1986,\nand for the year-to-date available miles totaled 1.132 billion\ncompared with 1.128 billion a year earlier, Alaska Air said.\n Reuter\n\u0003", "date": " 3-APR-1987 13:30:04.51", "places": [ "usa" ], "id": "13033" }, { "title": "UK MINISTER LOOKS TO EASE TENSION ON TOKYO TRIP", "body": "The U.K. Government hopes for a\nbreakthrough on the deadlock with Japan over trade policies\nduring next week's visit to Tokyo by Corporate Affairs Minister\nMichael Howard, political sources said.\n Howard, who leaves for Japan tomorrow, told Reuters he will\ntry to promote understanding on trade issues during his visit.\n Meanwhile, Britain will re-examine a letter from Japanese\nPrime Minister Yasuhiro Nakasone promising personal help in\nsolving the row over a U.K. Firm's bid to win a significant\nrole in Japan's telecommunications market, government sources\nsaid.\n Tensions have risen following Britain's decision to arm\nitself early with new statutory powers which it says could be\nused against certain Japanese financial institutions.\n Britain reacted optimistically at first to the letter from\nNakasone to Prime Minister Margaret Thatcher, seeing it as a\nsignal that he would work towards ensuring a satisfactory\noutcome to the bid launched by Cable and Wireless Plc <CAWL.L>,\ngovernment officials said.\n But this view has since been clouded by reports from Tokyo\nthat Nakasone's assurances really constituted little more than\npoliteness in the face of British anger, they added.\n Howard said he would use his trip to push for a bigger role\nin Japan's telecommunications industry for Cable and Wireless\nPlc. The U.K. Government has made the issue a test case for\nJapan's willingness to open its markets adequately to outside\ncompetition.\n Asked whether the letter from Nakasone was a rejection of\nattempts by Britain to achieve that, Howard said \"I am not sure\nit is correct to regard Mr Nakasone's letter as a rejection of\nMrs Thatcher's request of him - and it says he is taking a\npersonal interest in this problem.\n \"I don't understand it to be closed at all.\"\n Howard added that during his Tokyo visit he would be\n\"talking to them about it (the letter), finding out exactly what\nthey do mean about it, and making it plain that we take a very\nserious view of the fact that access to Japanese markets is not\nas free as we allow access to our markets to be.\"\n He noted that under the new Financial Services Act, Britain\ncould revoke or deny licences to Japanese banking and insurance\ninstitutions in London if U.K. Firms fail to receive similar\ntreatment in financial markets in Japan soon.\n \"I hope it won't come to that, and I don't think it will,\"\nHoward added.\n During the trip Howard will meet officials in the Tokyo\nStock Exchange, the Ministry of Finance, the Trade Ministry,\nand Posts and Telecommunications Minister Shunjiro Karasawa.\n Karasawa is regarded as behind opposition to any\nsignificant role for Cable and Wireless in the Japanese\ntelecommunications industry.\n Share prices on the London Stock Exchange were undermined\nagain today by fears of a possible U.K./Japanese trade war.\nThis was despite denials by Trade and Industry Secretary Paul\nChannon that Britain was on the verge of a trade war.\n He told a meeting of insurance brokers today that Britain\nbelieved a \"sensible solution\" could be found which would open\nJapanese markets to British goods.\n Government officials were at pains today to deny that\nBritain had set a deadline of three weeks for Japan to promise\nsimilar access to its financial markets to U.K.-based financial\nfirms as that enjoyed in London by equivalent Japanese firms.\n They said that Department of Trade and Industry officials\nhad said yesterday that the measures against Japanese financial\ninstitutions could be imposed from then but that this did not\nnecessarily constitute a deadline.\n Experts believe Britain would lose out by acting against\nJapanese banks, insurance and investment institutions. But\ndespite the danger of Japanese firms taking their trade\nelsewhere in Europe, Howard said he did not expect the move to\nbackfire.\n He said in a radio interview today \"it is true that we\nbenefit from their presence - but they would not want to lose\nthose advantages. And I am sure they are making their views\nplain to the Japanese government on this matter.\"\n Howard, who will also be visiting South Korea before\nreturning to London on April 11, said his trip to Tokyo was\nplanned well before the current trade row.\n Howard said his talks with Japanese officials would also\ninclude ways of jointly combating financial fraud in global\nmarkets with Japanese officials. This would be done through a\ncooperation between national regulatory bodies.\n He said a memorandum of understanding for exchanging\ninformation to combat financial fraud would be sought with\nJapan on terms similar to one signed last autumn between\nBritain and the United States.\n REUTER\n\u0003", "date": " 3-APR-1987 13:30:26.85", "places": [ "uk", "japan" ], "id": "13034" }, { "title": "PACIFIC GAS <PCG> PLANT TO BEGIN REFUELING", "body": "Pacific Gas and Electric Co said\nits Diablo Canyon Unit 2 nuclear power plant will begin its\nfirst refueling today after about 13 months of operation.\n The refueling outage is expected to last about 12 weeks and\nwill include a variety of maintenance as well as the\nreplacement of about one-third of Unit 2's fuel, the company\nsaid.\n Pacific Gas said Unit 2 generated power about 93.7 pct of\nthe time during its first year of operation.\n Pacific Gas' two Diablo Canyon units generate about 2.2 mln\nkilowatts of electricity in full operation.\n Reuter\n\u0003", "date": " 3-APR-1987 13:33:25.31", "places": [ "usa" ], "id": "13035" }, { "title": "MID-STATE <MSSL>, FIRST FEDERAL IN DEAL", "body": "Mid-State Federal Savings and Loan\nAssociation said it and First Federal Savings and Loan\nAssociation of Brooksville <FFBV> reached a definitive merger\nagreement.\n As previously announced, Brooksville shareholders will get\ncash and stock in exchange for their shares. The transaction is\nexpected to be completed during the summer 1987.\n Reuter\n\u0003", "date": " 3-APR-1987 13:34:29.36", "topics": [ "acq" ], "places": [ "usa" ], "id": "13036" }, { "title": "MEMOTEC DATA COMPLETES TELEGLOBE ACQUISITION", "body": "<Memotec Data Inc> said it completed\nthe previously announced 488.3 mln dlr acquisition of Teleglobe\nCanada from the federal government.\n Memotec Data said Teleglobe, which has provided Canada's\noverseas telecommunications services since 1950, now becomes\nTeleglobe Canada Inc, a unit of Memotec.\n Teleglobe president and chief executive Jean-Claude Delorme\nwill continue in the same post, the company said.\n In addition to the sale price, the government will receive\nTeleglobe's accumulated cash of 102 mln dlrs and a special 18\nmln dlr dividend, making total proceeds 608.3 mln dlrs.\n Reuter\n\u0003", "date": " 3-APR-1987 13:34:50.83", "topics": [ "acq" ], "places": [ "canada" ], "id": "13037" }, { "title": "CITIZENS FIRST BANCORP <CFB> RECEIVES FINE", "body": "Citizens First Bancorp Inc said\nits banking subsidiary pleaded guilty to two technical\nviolations of the Bank Secrecy Act and was fined 2,000 dlrs.\n The subsidiary, Citizens First National Bank of New Jersey,\npleaded guilty to two misdemeanors in Federal District Court\nfor the District of New Jersey. Charges had been brought by the\nU.S. Attorney's office.\n The company said no additional charges will be brought\nagainst it and that it has instituted additional procedures to\nreduce the possibility of future violations. It cooperated with\nauthorities in the investigation.\n The violations occurred on Aug 12, 1982, and May 25, 1984,\nwhen the bank failed to report currency transactions involving\nmore than 10,000 dlrs.\n Reuter\n\u0003", "date": " 3-APR-1987 13:37:55.73", "places": [ "usa" ], "id": "13038" }, { "title": "U.S., JAPANESE OPEN TALKS ON SEMICONDUCTORS", "body": "U.S. and Japanese officials meet\ntomorrow to try to settle a dispute over semiconductor trade\nand to cut short the 300 mln dlr penalty tariffs President\nReagan has ordered imposed on Japanese exports.\n But U.S. officials held out little hope that any accord\ncould be reached before the tariffs of 100 per cent - up from\nabout five per cent - are to take effect on April 17.\n The Customs Bureau last week started to levy a bond on the\nJapanese goods that Reagan ordered penalized. The penalties\nwould be retroactive to March 31.\n Reagan said on March 27 when ordering the tariffs that he\nhoped the Japanese would soon end their unfair practices in\nsemiconductor trade and that sanctions could be lifted.\n Technical meetings are to be held today and tomorrow, with\nmeetings at a more senior level scheduled for Thursday and\nFriday. Public hearings on the sanctions are set for April 13.\n The Japanese aides here for the technical talks include\nShigeru Muraoka, director-general of international trade policy\nof the Ministry of International Trade and Industry (MITI), and\nMasashi Yamamoto, deputy director-general of the information\nand machinery bureau.\n Meeting with them will Glen Fukushima, director of the\nJapan office of the U.S. Trade Representative's Office, and Jim\nGradoville, of trade representative's office of industry and\nservices.\n The two sides in the Thursday and Friday talks will be\nheaded by Deputy U.S. Trade Representative Michael Smith and\nMITI vice minister Makoto Kuroda.\n \n Reuter\n\u0003", "date": " 3-APR-1987 13:40:10.81", "topics": [ "trade" ], "places": [ "usa", "japan" ], "id": "13039" }, { "title": "TRIBUNE <TRB> FILES 300 MLN DLR SHELF REGISTRATION", "body": "Tribune Co said it filed a shelf\nregistration with the Securities and Exchange Commission for\n300 mln dlrs in debt securities.\n Underwriters may include Salomon Bros Inc and Merrill\nLynch, it said. Proceeds will be for general needs.\n Reuter\n\u0003", "date": " 3-APR-1987 13:41:26.38", "places": [ "usa" ], "id": "13040" }, { "title": "AMERON <AMN> ADOPTS SHAREHOLDER RIGHTS PLAN", "body": "Ameron Inc said its board\nadopted a rights plan designed to protect shareholders from\npotentially unfair takeover tactics.\n The plan calls for distribution of one right for each of\nits outstanding common shares and each right entitles the\nholder to buy one/one-hundredth of a share of newly authorized\nSeries A Junior Participating cumulative Preferred stock at an\nexercise price of 55 dlrs, Ameron said.\n It said the rights are exercisable if a group acquires 20\npct or more of its common stock or announces a tender offer for\n30 pct or more of its shares.\n Reuter\n\u0003", "date": " 3-APR-1987 13:42:58.60", "topics": [ "acq" ], "places": [ "usa" ], "id": "13041" }, { "title": "BRITAIN'S ECGD DISCUSSING NEW COVER FOR NIGERIA", "body": "Britain's Export Credits Guarantee\nDepartment (ECGD) is holding talks with Nigeria aimed at\nresuming insurance cover for British exporters to Nigeria, the\nhead of ECGD's international debt division, Gerry Breach, said.\n The ECGD suspended cover on Nigeria in 1984 after the\ncountry fell into arrears on payments of insured and uninsured\ndebts.\n Following last week's bilateral accord between Britain and\nNigeria to reschedule the country's insured trade debts,\nbankers had hoped that talks would commence on a resumption of\ncover.\n Breach made his comments in an address to a private meeting\nof businessmen, a copy of which was made available to the\npress.\n Breach noted that for the ECGD to consider \"a gradual\nintroduction of a package of new support\" certain criteria would\nhave to be met.\n This would involve the Nigerian economic structural\nadjustment program being put into effect and being endorsed by\nthe International Monetary Fund, the program remaining on\ncourse and continuing to be endorsed by the IMF and a\nsatisfactory level of acceptance by the Nigerian government of\nthe ECGD insured short-term trade arrears.\n Breach said that these criteria are now beginning to be\nsatisfied, adding that while the ECGD could not yet formally\nannounce new cover, it was holding discussions with Nigeria on\npriorities for new credits.\n He said an announcement would be made \"as soon as possible\"\non an agreement and the ECGD would create a package for Nigeria\nthat would include the department's normal range of export\ntrade support facilities.\n British exports to Nigeria exceeded 550 mln stg in 1986.\n Breach noted that since cover was removed, the ECGD has\nmaintained a limited amount of short-term trade cover for\nNigeria, which was backed by letters of credit from the\nNigerian Central Bank.\n While the ECGD would initially continue to use this\nstructure under a new package, it would also hope to expand the\nvolume of coverage in the short-term area and relax the terms\nit is prepared to underwrite towards the commonly accepted\nmaximum of 180 days.\n REUTER\n\u0003", "date": " 3-APR-1987 13:43:34.67", "places": [ "uk", "nigeria" ], "id": "13042" }, { "title": "FCS LABORATORIES <FCSI> ENDS MERGER TALKS", "body": "FCS Laboratories said its merger\ntalks with another unidentified company in the health care\nfield ended without agreement.\n The talks began last August, the company said.\n The company also said it will no longer actively seek out\npotential merger partners, but will respond to serious\ninquiries.\n Reuter\n\u0003", "date": " 3-APR-1987 13:44:08.77", "topics": [ "acq" ], "places": [ "usa" ], "id": "13043" }, { "title": "IBM <IBM> NEWLY NAMED SECRETARY DIES IN FIRE", "body": "International Business Machines\nCorp said recently elected secretary, John Manningham, and his\nwife, Patricia, died early this morning in a fire at their\nReidgefield, Conn home.\n Manningham, 53, began his IBM career in 1959 as a marketing\nrepresentative. His election would have been effective July 1.\n Tom Irwin is the current secretary.\n IBM Chairman John Akers said \"this is a great loss to the\nIBM Company and to the Manningham's family, friends and\ncommunity.\n Reuter\n\u0003", "date": " 3-APR-1987 13:45:46.93", "places": [ "usa" ], "id": "13044" }, { "title": "UK MINISTER LOOKS TO EASE TENSION WITH JAPAN", "body": "The U.K. government hopes for a\nbreakthrough on the deadlock with Japan over trade policies\nduring next week's visit to Tokyo by Corporate Affairs Minister\nMichael Howard, political sources said.\n Howard, who leaves for Japan tomorrow, told Reuters he will\ntry to promote understanding on trade issues during his visit.\n Meanwhile, Britain will re-examine a letter from Japanese\nPrime Minister Yasuhiro Nakasone promising personal help in\nsolving the row over a U.K. firm's bid to win a significant\nrole in Japan's telecommunications market, government sources\nsaid.\n Tensions have risen following Britain's decision to arm\nitself early with new statutory powers which it says could be\nused against certain Japanese financial institutions.\n Britain reacted optimistically at first to the letter from\nNakasone to Prime Minister Margaret Thatcher, seeing it as a\nsignal that he would work towards ensuring a satisfactory\noutcome to the bid launched by Cable and Wireless Plc,\ngovernment officials said.\n But this view has since been clouded by reports from Tokyo\nthat Nakasone's assurances really constituted little more than\npoliteness in the face of British anger, they added.\n Reuter\n\u0003", "date": " 3-APR-1987 13:46:44.30", "topics": [ "trade" ], "places": [ "uk", "japan" ], "id": "13045" }, { "title": "CONABLE WARNS PROTECTIONISM MIGHT SPREAD", "body": "World Bank President Barber Conable\nexpressed concern that trade protectionism, at the heart of a\nnew showdown between the United States and Japan, might spread\nthroughout the industrial world.\n But in an interview with Reuters, Conable said the action\nby the United States to slap tariffs on certain electronic\ngoods from Japan did not mean the countries were heading for a\nfull-scale trade war.\n Conable said the World Bank has been pressing developing\ncountries to open their markets, arguing that a free trading\nenvironment increased the possibility of global economic\ngrowth.\n \"We have, in fact, been making adjustment loans to many\ncountries in the developing world which have encouraged the\nopening of their markets and we want to be sure that the\ndeveloped world doesn't close at the same time,\" he said.\n He said the U.S. action against Japan was \"a significant\nretaliatory step but it did not constitute a basic change in\ntrade policy.\"\n The interview came just before next week's semi-annual\nmeetings of the Bank and the International Monetary Fund.\n Referring to Brazil's recent interest payments moratorium,\nConable also said the global debt situation was very serious\nand must be closely watched.\n He said the Bank, which in the past has concentrated on\nmaking loans that assist the basic underpinnings in the\ndeveloping world such as dams, roads and sewers, will\nincreasingly make assistance available for economic reform.\n The Bank has increased these loans, in part because of the\ndebt crisis that has found countries desperately in need of new\nfunds for balance of payments adjustment and economic reforms\naimed at opening their markets, encouraging foreign investment\nand reducing government's role in the economy.\n \"We're comfortable with adjustment lending, we expect,\nhowever, that it will never reach a majority of our portfolio,\"\nConable said.\n He made clear, however, that adjustment lending would\ncontinue to increase as a proportion of overall Bank lending\nfor some time.\n He noted, \"the problem of debt was a severe one and many\ncountries are asking for adjustment assistance because of the\nproblem of debt.\"\n Conable, is a a former Republican Congressman from New York\nchosen by President Reagan for the Bank position last year. He\nis an associate of Treasury Secertary James Baker who launched\nthe U.S. strategy for shoring up indebted nations in October,\n1985 which included a call for increased adjustment lending by\nthe World Bank.\n Conable also said that he expected the result of a major\nstudy of the Bank's organization to be completed in the next\nseveral weeks.\n He said the decision to seek a reorganization was based, in\npart, on the fact that the Bank had come under fire from the\npoorest countries for not doing enough to help and from the\nrichest countries because of inefficiency.\n the reorganization is considered a major initiative by\nConable, and is being closely-watched by the agency's 151\nmember-countries as an indication of his management style and\npriorities.\n \"I want to be sure this institution is viewed by those who\nmust support it as soundly constituted so that it will be\npermitted to grow,\" Conable said.\n However, he said \"I don't believe there is anything\nbasically wrong with this institution and I don't believe it\nhas to have any redefinition of its purpose.\"\n He said, however, that it was apparent that the debt\ninitiative proposed by Baker has given the Bank a central role\nin dealing with the debt crisis.\n Conable added that cooperation between the Bank and its\nsister agency, the International Monetary Fund, was good and\nthat he talked often with IMF Managing Director Michel\nCamdessus on a variety of issues.\n On a personal level, Conable said that he not feel a need\nto put his personal stamp on the Bank noting that \"I don't have\na particular mission here except to be useful to the\ninstitution and to the process of development.\"\n He added, \"so I don't feel a great calling to personalize\nthe institution.\"\n On the development needs of sub-Sahara Africa, Conable said\nthat the Bank was constantly reviewing new ways for assisting\nthe region, noting that half of the recently agreed financing\nof 12.4 billion dlrs for Bank's International Development\nAssociation was earmarked for Africa.\n Leading industrial nations are expected to consider new\nforms of debt relief for the very poorest nations, like those\nin the Sub-Sahara, during next week's meetings.\n Reuter\n\u0003", "date": " 3-APR-1987 13:54:45.70", "topics": [ "trade" ], "organisations": [ "imf", "worldbank" ], "places": [ "usa", "japan" ], "id": "13046" }, { "title": "AMERICAN SAVINGS <AMSB> SEEKS STATE CHARTER", "body": "American Savings Bank F.S.B. said\nit applied for a state charter and it intends to change its\ndepositor insurance coverage to the Federal Deposit Insurance\nCorp and to withdraw from coverage by the Federal Savings and\nLoan Insurance Corp.\n The savings bank also said state chartered institutions\nhave broader banking powers and the conversion will be in the\nbest interest of both shareholders and depositors.\n Reuter\n\u0003", "date": " 3-APR-1987 13:55:17.71", "places": [ "usa" ], "id": "13047" }, { "title": "LTV <QLTV> UNIT WINS TWO ARMY CONTRACTS", "body": "LTV Corp said its AM General\ndivision received two contracts valued at 11.7 mln dlrs from\nthe U.S. Army to make special equipment kits for Hummer troop\nand cargo vehicles.\n Deliveries are set for May 1987 through November 1988, the\ncompany said. AM General is part of LTV Missiles and\nElectronics Group.\n Reuter\n\u0003", "date": " 3-APR-1987 13:55:26.39", "places": [ "usa" ], "id": "13048" }, { "title": "BOEING SEEKS CAUSE OF JAL ENGINE PROBLEM", "body": "Boeing Co. <BA> is trying to find out\nwhat caused an engine brace to snap on one of Japan Air Line's\n747-SR jumbo jets, a spokesman for the airplane manufacturer\nsaid.\n \"We know about the problem and we have provided a service\nadvisory to operators of 747s,\" said the spokesman. \"We are not\nadvising any massive inspections at this time.\"\n The advisory alerts operators of the jumbo jets that a\nproblem has occurred and under what circumstances, but it does\nnot recommend any action.\n \"A 'service bulletin' would be sent out if there is\nanything they should be concerned about,\" the spokesman said.\n A JAL spokesman in Toyko said inspectors making a routine\ncheck found one of three diagonal braces attaching an engine to\nthe wing of a 747-SR had snapped due to metal fatigue.\n The airlines said it had ordered an inspection of all 11 of\nits 747-SR's. The plane is a full-sized jumbo jet that has been\nmodified slightly to handle short-haul routes in Japan, mainly\nbetween Tokyo and Osaka.\n The jetliners have beefed-up landing gear to accommodate a\nhigher-than-normal number of landings and takeoffs.\n Boeing's spokesman said only JAL and All Nippon Airlines\nuse the 747-SR. JAL took delivery of its first 747-SR in 1973\nand purchased two more last year. He said the braces had been\nshipped to a Boeing plant near Seattle where they were being\ninspected.\n Reuter\n\u0003", "date": " 3-APR-1987 13:57:12.03", "places": [ "usa", "japan" ], "id": "13049" }, { "title": "BRITAIN'S ECGD DISCUSSING NEW COVER FOR NIGERIA", "body": "Britain's Export Credits Guarantee\nDepartment (ECGD) is holding talks with Nigeria aimed at\nresuming insurance cover for British exporters to Nigeria, the\nhead of ECGD's international debt division, Gerry Breach, said.\n The ECGD suspended cover on Nigeria in 1984 after the\ncountry fell into arrears on payments of insured and uninsured\ndebts.\n Following last week's bilateral accord between Britain and\nNigeria to reschedule the country's insured trade debts,\nbankers had hoped that talks would commence on a resumption of\ncover.\n Breach told a businessmen's meeting that for the ECGD to\nconsider \"a gradual introduction of a package of new support\"\ncertain criteria would have to be met.\n This would involve the Nigerian economic structural\nadjustment program being put into effect and being endorsed by\nthe International Monetary Fund, the program remaining on\ncourse and continuing to be endorsed by the IMF and a\nsatisfactory level of acceptance by the Nigerian government of\nthe ECGD insured short-term trade arrears.\n British exports to Nigeria exceeded 550 mln stg in 1986.\n Reuter\n\u0003", "date": " 3-APR-1987 13:58:59.52", "places": [ "uk", "nigeria" ], "id": "13050" }, { "title": "BP CREDIT FACILITY SUBSTANTIALLY OVERSUBSCRIBED", "body": "A five billion dlr credit facility being\narranged f