reuters-21578-json
Version:
A JSONified and simplified version of the famous reuters 21578 dataset
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[
{
"title": "JOHANNESBURG GOLD SHARES CLOSE MIXED TO FIRMER",
"body": "Gold share prices closed mixed to\nslightly firmer in quiet and cautious trading, showing little\nreaction to a retreat in the bullion price back to below 420\ndlrs and a firmer financial rand, dealers said.\n Heavyweight Vaal Reefs ended eight rand higher at 398 rand\nbut Grootvlei eased 40 cents at 16.60 rand, while mining\nfinancials had Gold Fields up a rand at 63 rand despite weaker\nquarterly results. Other minings were firm but platinums eased.\n Industrials also closed mixed to firmer, the index once\nagain hitting a new high of 1757 from Friday's 1753 finish. The\noverall index also hit a new high of 2188 versus 2179 on\nFriday.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:02:35.07",
"id": "14001"
},
{
"date": " 7-APR-1987 11:02:40.82",
"id": "14002"
},
{
"date": " 7-APR-1987 11:03:03.68",
"id": "14003"
},
{
"date": " 7-APR-1987 11:03:30.55",
"id": "14004"
},
{
"title": "FEEDER CATTLE FUTURES SET NEW HIGHS, TURN MIXED",
"body": "Feeder Cattle futures advanced 0.20 to\n0.30 cent at the start and posted new season's highs in April\nthrough August and October before slipping to trade 0.10 cent\nlower to 0.20 higher in latest trade.\n Futures ran up to new highs at the start on general demand\nprompted by continued strong cattle fundamentals. Posting of\nanother 10 cent gain in the latest reported average feeder\nsteer price added to support, traders said.\n However, prices retreated on profit-taking following the\nlead of other meat pits. Stotler notably sold April on the\ndecline, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:04:03.63",
"id": "14005"
},
{
"date": " 7-APR-1987 11:04:12.58",
"id": "14006"
},
{
"date": " 7-APR-1987 11:04:23.94",
"id": "14007"
},
{
"title": "CBT CORN SPREADS",
"body": "1000 hrs cdt\n MONTHS LAST DIFFERENCE\n Jul/May 3-1/4 over 3-1/2 over\n Dec/Jul 12-3/4 over 13 over\n Jul/Sep 4-3/4 under 5 under\n Sep/May no quote 8-1/4 over\n Sep/Dec no quote 8-1/4 under\n Dec/Mar8 no quote no quote \n May/Dec 16 under 16-1/2 under\n Reuter\n\u0003",
"date": " 7-APR-1987 11:04:29.67",
"id": "14008"
},
{
"date": " 7-APR-1987 11:04:47.19",
"id": "14009"
},
{
"title": "TEXAS PANHANDLE/W OKLA FEEDLOT ROUNDUP - USDA",
"body": "Cattle in the panhandle area monday\nwere 0.50 to 1.50 dlr higher. Trading was very active.\n Feedlots reported very good interest and inquiry from\nbuying sources. Confirmed sales of 22,700 steers and heifers\n8,100 head. There were 37,900 head sold for the week to date.\n Steers - good and mostly choice 2-3, 70-85 pct choice,\n1025-1150 lb 69.00-70.00, late mostly 69.50-70.00.\n Heifers - near 350 head mostly choice 2-3 1000 lb 68.25.\nGood and mostly choice 2-3 950-100 lb 66.50-68.00, late mostly\n67.00-68.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:05:05.48",
"id": "14010"
},
{
"title": "MIDWEST GRAIN FUTURES 11:00 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 284 3/4 UP 1 1/4\n JUL7 280 1/4 OFF 1/2\n SEP7 277 UP 1\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 11:05:17.86",
"id": "14011"
},
{
"title": "VOLCKER PUSHES SPENDING CUTS OVER TRADE BILL",
"body": "Federal Reserve Board Chairman Paul\nVolcker said reducing the federal budget deficit was a more\nimportant goal for Congress than drafting trade legislation.\n \"Reduce the budget deficit,\" Volcker responded when asked by\na member of the Senate Banking Committee about trade\nlegislation priorities.\n \"If you don't deal with the budget deficit, everything else\nyou do is going to be counterproductive,\" he said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:05:28.64",
"topics": [
"trade"
],
"places": [
"usa"
],
"id": "14012"
},
{
"date": " 7-APR-1987 11:05:35.43",
"id": "14013"
},
{
"title": "MIDWEST GRAIN FUTURES 11:01 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 284 3/4 UP 1 1/4\n JUL7 280 1/4 OFF 1/2\n SEP7 277 UP 1\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 11:05:44.09",
"id": "14014"
},
{
"title": "CBT SOYBEAN SPREADS",
"body": "1000 hrs cdt\n MONTHS LAST DIFFERENCE\n May/Jul 1 under 1 under\n Jul/Aug even even \n Sep/Nov 1-1/2 under 2-1/2 under\n May/Nov 2-1/2 over 2-1/4 over\n Jul/Nov 3-1/2 over 3-1/2 over\n Nov/Jan 6-3/4 under 6-3/4 under\n Aug/Sep no quote 5 over\n Mar/May8 no quote no quote \n Jan/Mar8 no quote no quote \n Reuter\n\u0003",
"date": " 7-APR-1987 11:05:53.61",
"id": "14015"
},
{
"date": " 7-APR-1987 11:06:07.52",
"id": "14016"
},
{
"date": " 7-APR-1987 11:06:13.18",
"id": "14017"
},
{
"title": "SIOUX FALLS CATTLE UP 0.50 DLR - USDA",
"body": "slaughter cattle rose 0.50 dlr in\nactive trade, the usda said.\n stees - choice 2-4 1100-1400 lbs 66.00-67.00.\n heifers - load choice 3 near 1225 lbs 66.50. choice 2-4\n950-1125 lbs 64.00-66.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:06:16.90",
"id": "14018"
},
{
"date": " 7-APR-1987 11:06:31.29",
"id": "14019"
},
{
"title": "CBT SOYBEAN OIL SPREADS",
"body": "1000 hrs cdt\n MONTHS LAST DIFFERENCE\n May/Jul 0.34 under 0.35 under\n Jul/Aug 0.16 under 0.17 under\n Jul/Dec 0.78 under 0.77 under\n Aug/Sep 0.16 under 0.16 under\n May/Aug no quote 0.52 under\n May/Dec no quote 1.12 under\n Dec/Jan no quote no quote \n Reuter\n\u0003",
"date": " 7-APR-1987 11:06:39.38",
"id": "14020"
},
{
"date": " 7-APR-1987 11:06:45.97",
"id": "14021"
},
{
"title": "FLASH SIOUX FALLS HOGS UP 1.75 DLR - USDA",
"body": "barrows and gilts rose 1.75 dlr in\nactive trade, the usda said. us 1-3 220-250 lbs 51.75-52.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:06:50.37",
"id": "14022"
},
{
"date": " 7-APR-1987 11:06:58.55",
"id": "14023"
},
{
"date": " 7-APR-1987 11:07:09.81",
"id": "14024"
},
{
"title": "CBT SOYBEAN MEAL SPREADS",
"body": "1000 hrs cdt\n MONTHS LAST DIFFERENCE\n May/Jul 0.10 over 0.10 over\n Jul/Aug no quote even \n Jul/Dec no quote 1.40 under\n Oct/Dec no quote 1.40 under\n Dec/Jan no quote 0.60 under\n Oct/Jan no quote 2.00 under\n Reuter\n\u0003",
"date": " 7-APR-1987 11:07:18.11",
"id": "14025"
},
{
"date": " 7-APR-1987 11:07:22.81",
"id": "14026"
},
{
"date": " 7-APR-1987 11:07:28.63",
"id": "14027"
},
{
"title": "AMERICAN SPORTS ADVISORS <PIKS> TO LIQUIDATE",
"body": "American sports Advisors Inc\nsaid it has agreed to sell its sports handicapping and\npublication business to Professor Enterprises for about\n1,650,000 dlrs and intends to liquidate after closing.\n The transaction is subject to shareholder approval.\n Professor is owned by American Sports president Edward C.\nHorowitz and Mike Warren, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:07:45.56",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14028"
},
{
"title": "N.Y. COFFEE FUTURES SLIGHTLY HIGHER, THIN EARLY",
"body": "N.Y. coffee futures were marginally\nfirmer midmorning, trading in ranges of no more than 0.50 cent.\n May was up 0.16 cent at 102.20 cents at 1052 hrs EST, in a\nrange of 102.00 to 102.50 cents. July was up 0.15 at 104.15\ncents in a 35-point range.\n Traders said reports that the U.S. State Department does\nnot forsee a meeting with Brazil prior to the next\nInternational Coffee Organization session in September did not\naffect the market as the news was expected.\n Operators are watching the cash market for indications of\nroaster interest or producer selling.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:08:01.92",
"id": "14029"
},
{
"title": "THATCHER FIRM AS PRESSURE MOUNTS FOR ELECTIONS",
"body": "As pressure mounted on British Prime\nMinister Margaret Thatcher to call a June election, she said\ntoday that the decision on when to go to the county was hers\nand hers alone.\n She was speaking to parliament after senior members of the\nruling Conservative Party urged her to call elections due in\nJune 1988 a year early in the wake of two more opinion polls\ngiving her party a commanding lead.\n Asked by a Conservative back-bencher for an assurance that\nthe decision was hers alone, and did not depend on \"media hype,\npressure and speculation,\" she replied: \"The date of the next\nelection will be decided by Downing Street, not Fleet Street.\"\n Downing Street is the Prime Minister's official residence,\nFleet Street the traditional home of the British national\npress.\n A Harris poll for the breakfast-time program TV-AM gave the\nTories 43 pct of the vote, representing a majority of 132 seats\nin parliament, their biggest lead since the party's landslide\nvictory in the 1983 elections.\n In The Times of London, a MORI poll gave the Tories a 92\nseat majority. It was the sixth poll to show the ruling party\nwith a big lead over the opposition Labour Party and the\nfast-improving centrist Alliance.\n Leading the chorus urging Thatcher to go to the polls in\nJune, Sir Marcus Fox, vice-chairman of the influential 1922\ncommittee of Conservative back-benchers, said: \"I have always\nfelt that it would be June, and this reinforces my view.\n \"I always thought June was right. We have got most of our\nlegislation through and to go beyond that I do not think would\nbe in the national interest.\"\n Another Tory back-bencher, Anthony Beaumont-Dark, said: \"I\nhave always been an October man, but I think it would be good\nto get it out of the way now.\"\n Their comments came as government officials dismissed\nspeculation about a snap election to coincide with local polls\nin May, timed to reap maximum advantage from the recent\npopularity surge, Thatcher's successful trip to Moscow and\nLabour's current popularity slump.\n Calls for a May poll were also prompted by Tory concern\nover a steady advance by the Alliance, and the possibility that\nif it continues it could rob the Conservatives of an overall\nmajority in parliament.\n Today's MORI poll showed an Alliance gain of eight points\nover the past month in around 100 key marginal seats where the\noutcome of the next election is likely to be decided.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:08:12.19",
"places": [
"uk"
],
"id": "14030"
},
{
"title": "PORTUGUESE AIRLINE CONFIRMS AIRBUS A310 ORDER",
"body": "Portugal's \"flag carrier\" airline TAP has\nconfirmed an order for three Airbus Industrie <AINP.PA>\nA310-300 passenger aircraft, British Aerospace Plc <BAEL.L>\n(BAe), one of four shareholders in the international Airbus\nconsortium, said.\n BAe said in a statement TAP had also taken options on\nanother two Airbus aircraft, either the existing A310-300\nmedium range craft or the long-range four-engined A340 which\nAirbus hopes to launch in 1992, depending on the airline's\nneeds.\n BAe said the firm order confirmed a commitment taken by TAP\nin January. Details of the value of the contract, delivery\ndates or which engine would power the aircraft were not\navailable.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:08:21.35",
"places": [
"uk",
"portugal"
],
"id": "14031"
},
{
"date": " 7-APR-1987 11:08:49.00",
"id": "14032"
},
{
"title": "FLASH ST PAUL HOGS UP 1.00/2.00 DLRS - USDA",
"body": "barrow and gilt prices rose 1.00 to 2.00\ndlrs in very active trade, the usda said. us 1-3 220-260 lbs\n51.50-52.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:09:35.39",
"id": "14033"
},
{
"title": "VOLCKER SAYS RESTRICTIVE MONETARY POLICY WOULD HURT INVESTMENT\n",
"date": " 7-APR-1987 11:09:39.16",
"topics": [
"money-fx"
],
"id": "14034"
},
{
"date": " 7-APR-1987 11:09:46.42",
"id": "14035"
},
{
"date": " 7-APR-1987 11:09:52.58",
"id": "14036"
},
{
"title": "WORLD SUGAR FUTURES TUMBLE IN EARLY TRADING",
"body": "World sugar futures tumbled early when\nsell stops were triggered at 6.60 and 6.55 cents basis the spot\ncontract, traders said.\n Spot May dropped 0.27 cent to 6.52 cents a lb. It opened at\n6.72 cents.\n Trade houses worked both sides of the market, analysts\nsaid.\n The decline may have been a continued reaction to the\nmarket's inability yesterday to breach resistance around 6.93\ncents basis May, which unsettled traders, analysts said.\n The market should draw support from buying tenders slated\nfor tomorrow and Saturday, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:10:01.59",
"id": "14037"
},
{
"title": "GOLD AND SILVER CLOSE OFF HIGHS IN ZURICH",
"body": "Gold and silver closed off the day's\nhighs on profit-taking, but silver, which continued to set the\npace, remained well up on yesterday's close, dealers said.\n Underlying speculative demand for silver remained strong\nbut profit-taking eroded the gains, taking the metal off\nindicated highs at around 6.80 dlrs to close at 6.64/66 dlrs an\nounce. Yesterday's close was 6.52/54 dlrs.\n Some investors were noted selling gold and switching into\nsilver. This combined with profit-taking to push gold down to a\nclose of 418.50/419.00 dlrs from its opening 421.80/422.20 and\nyesterday's 421.50/422.00.\n Dealers said it was unclear if the silver rally had peaked\nor if fresh gains could be achieved in New York.\n \"A lot depends on the Dow Jones index,\" one dealer commented.\n\"Further gains in stock prices would take away a lot of the\nsupport for silver and gold.\"\n Platinum ended 50 cents higher at 563/567 dlrs.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:10:11.23",
"id": "14038"
},
{
"title": "SWEDEN'S ERICSSON WINS U.S. ORDER",
"body": "Sweden's Telefon AB L.M. Ericsson\n<ERIC.ST> said it has won its third contract from U.S. West Co\nInc <WST> for digital exchange equipment to be supplied in the\nstate of Idaho over the next five years.\n No financial details were available. The company said the\ncontract provided for the replacement of more than 50 older\nexchanges run by <Mountain Bell>, one of U.S. West's three\noperating companies, with Ericsson's AXE system.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:10:21.78",
"places": [
"sweden",
"usa"
],
"id": "14039"
},
{
"title": "FLASH OMAHA HOGS UP 1.00 DLR - USDA",
"body": "barrow and gilt prices rose 1.00 dlr in\nactive trade, the usda said. us 1-3 220-260 lbs 51.00-51.50.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:10:24.80",
"id": "14040"
},
{
"date": " 7-APR-1987 11:10:27.07",
"id": "14041"
},
{
"title": "CBT WHEAT FUTURES OPEN FIRMER, SET NEW HIGHS",
"body": "CBT wheat futures opened firmer to again\nset new contract highs in new crop, then back off those highs\nto hold gains of 1-1/4 cents per bushel in May, with new crop\nJuly unchanged in light early dealings.\n Steady speculative buying after yesterday's strong close\nkept the chart picture very bullish and supported initial\nvalues, traders said.\n Rumors that exporters are planning to ship SRW wheat out of\nToledo and/or Chicago, further tightening already low\ndeliverable stocks, kept May firm relative to new crop months,\nthey added.\n However, the rally failed to follow-through due to the lack\nof confirmed export sales of significant quantities of U.S.\nwheat so far this week, as some traders expected.\n\n Reuter\n\u0003",
"date": " 7-APR-1987 11:11:03.67",
"id": "14042"
},
{
"title": "DOLLAR CLOSES LITTLE CHANGED IN FRANKFURT",
"body": "The dollar closed virtually unchanged\nfrom yesterday's finish, but near the day's high after another\nextremely quiet session.\n With the G-5 meeting in Washington ahead of this week's IMF\ninterim committee, traders remained reluctant to open any large\npositions. Towards the end of the day the dollar firmed after\nfailing earlier to hold beneath 1.82 marks. Some dealers said\nSenate testimony from Fed Chairman Paul Volcker also lent\nsupport.\n The dollar closed at 1.8265/75 marks after opening at\n1.8200/15 and closing yesterday at 1.8260/70.\n Volcker said that a further sizeable dollar decline could\nbe counter-productive, and that exchange rate adjustments have\nbeen enough to narrow the U.S. Trade deficit.\n Such remarks in the past might have moved the dollar\nsharply, today they only pushed it up 20 or 30 basis points\nwhen it was already firming for technical reasons.\n The dollar in any case held in a narrow range today,\ntrading early in the morning just below 1.82 marks and rising\nto a high of 1.8270.\n Dealers said they were awaiting comments after the G-5\nmeeting from U.S. Treasury Secretary James Baker.\n Looking slightly further ahead, the market is awaiting U.S.\nFebruary trade data, due on April 14.\n Another set of disappointing figures could push the dollar\nbelow its recent 1.80-85 mark range if there have been no\nsupportive statements from G-5 officials in Washington in the\nmeantime, dealers said.\n Sterling closed slightly easier at 2.950/954 marks, after\nopening at 2.951/955 and closing yesterday at 2.954/958.\n The pound has been buoyed by expectations the ruling\nConservatives will win the next U.K. Election.\n But dealers said sterling now looks high against the mark\nand room for further gains must be limited.\n Many dealers believe sterling will enter the EMS joint\nfloat after a U.K. Election. In this case, its ceiling could\nwell be at or near 2.95 marks, dealers said.\n The yen closed at 1.2550/70 marks per 100 after closing\nyesterday at 1.2490/2510, and the Swiss franc firmed to\n120.55/70 marks per 100 from 120.10/50.\n The French franc ended unchanged at 30.04/07 marks per 100.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:11:10.86",
"id": "14043"
},
{
"date": " 7-APR-1987 11:11:20.04",
"id": "14044"
},
{
"title": "LIVE HOG FUTURES HIGHER EARLY",
"body": "Live Hog futures ran up for gains of\n0.57 to 0.07 cent in eary trade paced by April and June.\n Fairly active demand reflected strength in cash hogs and\nthe continued discount of futures to cash. The start of\nfieldwork limited farmer movement of hogs to market and\nprompted packers to bid up for hogs. Mostly steady to firm cash\npork products added to support, traders said.\n However, prices slipped from the highs in latest trade as\ncommercial profit-taking developed. Some selling was also\nattributed to expectations that cash ham prices will be falling\nsoon on a seasonal basis, they said.\n Thomson and RBH bought while Packers Trading and Refco\nsold. Stotler spread long June/short April, they added.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:12:10.97",
"id": "14045"
},
{
"title": "MIDWEST GRAIN FUTURES 11:10 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 UP 1 1/2\n JUL7 280 3/4 UNCH\n SEP7 277 UP 1\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 11:12:32.96",
"id": "14046"
},
{
"date": " 7-APR-1987 11:12:47.66",
"id": "14047"
},
{
"date": " 7-APR-1987 11:12:56.28",
"id": "14048"
},
{
"date": " 7-APR-1987 11:13:07.76",
"id": "14049"
},
{
"title": "HONEYWELL BULL INTRODUCES HIGH PERFORMANCE COMPUTERS FOR MEDIUM, LARGE FIRMS\n",
"date": " 7-APR-1987 11:13:21.62",
"id": "14050"
},
{
"title": "PORK BELLY FUTURES START HIGHER, THEN EASE",
"body": "Pork belly (bacon) futures ran up for\ngains of 0.55 to 0.30 cent at the start and then eased to trade\n0.15 cent lower to 0.15 higher in early dealings.\n Active local carryover demand and mixed commission house\nbuying lifted futures at the start. Higher cash hog markets on\nlight runs and spillover from other meat pits prompted support,\ntraders said.\n However, locals turned sellers along with Saul Stone and\nPaine Webber and prices turned mostly lower. Trimming of gains\nin other pits and expectations of possibly negative out of town\nstorage report this afternoon weighed on the market. Guesses on\nthe report ranged from in 1.0 to 2.25 mln lbs with most\nindications on the high side, they noted.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:13:32.95",
"id": "14051"
},
{
"title": "MISSOURI DIRECT HOGS UP 1.00-1.50 DLR - USDA",
"body": "Barrow and gilts in the east and\nwest were 1.00 to 1.50 dlr higher than monday's midsession. Top\n50.50 dlrs per cwt.\n EAST WEST\nU.S. 1-2 210-250 LB 49.50-50.50 49.50-50.50\nU.S. 1-3 210-250 LB 49.50-50.50 49.50-50.50\nU.S. 1-2 200-210 LB 48.50-49.50 48.50-49.50\n SOWS - steady/up 2.00 dlrs. Top 46.00 dlrs.\nUS 1-3 300-500 lb 42.00-43.00, over 500 lb 43.00-46.00 dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:13:39.69",
"id": "14052"
},
{
"date": " 7-APR-1987 11:14:21.32",
"id": "14053"
},
{
"date": " 7-APR-1987 11:14:26.83",
"id": "14054"
},
{
"title": "VOLCKER SEES TIGHT POLICY HURTING INVESTMENT",
"body": "Federal Reserve Board Chairman Paul\nVolcker said a restrictive monetary policy would be damaging to\ninvestment and that a better course would be to restrain\nspending.\n \"A restrictive monetary policy would hit investment. You\ndon't want to put interest rates up unless you have to,\" Volcker\ntold the Senate Banking Committee.\n \"That is not a constructive way to proceed,\" he said.\n Volcker said that given a choice between squeezing the\nbudget deficit or squeezing investment, he would favor\nsqueezing the budget deficit.\n In response to a question about banks, Volcker said he\nwould be pleased if Congress decided to give banks a tax\nwriteoff as an incentive for them to take greater reserves\nagainst loans to debtor countries.\n \"If you give a tax writeoff for reserving against loans,\nthen we will see more reserving and that would make me happy,\"\nVolcker told Committee Chairman Sen William Proxmire (D-Wisc).\n Reuter\n\u0003",
"date": " 7-APR-1987 11:14:36.23",
"topics": [
"money-fx"
],
"places": [
"usa"
],
"id": "14055"
},
{
"title": "REUTERS <RtrSY> UNIT COMPLETES TRADING SYSTEM",
"body": "Rich Inc, a wholly-owned subsidiary of\nReuters Holdings PLC of London, said it completed installation\nof a 20 mln dlr trading system for Merrill Lynch and Co Inc\n<MER> in New York.\n The company said its Composite Information System was\ndesigned and installed for Merrill Lynch in the investment\nfirm's World Financial Center offices in downtown Manhattan.\n The system, which offers access to financial news, in-house\ncomputers, commercial television and other services, includes\n479 equity positions, 614 in the debt area and 152 municipal\nmarkets positions, the company said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:14:55.96",
"places": [
"usa"
],
"id": "14056"
},
{
"title": "LONDON LIFFE D.MARK CLOSE 1614 - APR 7",
"body": "5507\n Sep --- --- --- 4885\n\u0003",
"date": " 7-APR-1987 11:15:52.09",
"id": "14057"
},
{
"date": " 7-APR-1987 11:17:29.61",
"id": "14058"
},
{
"title": "LONDON LIFFE S.FRANC CLOSE 1616 - APR 7",
"body": "6627\n Sep --- --- --- 6041\n\u0003",
"date": " 7-APR-1987 11:18:01.28",
"id": "14059"
},
{
"date": " 7-APR-1987 11:18:17.62",
"id": "14060"
},
{
"date": " 7-APR-1987 11:18:33.41",
"id": "14061"
},
{
"title": "CBT SOYBEAN FUTURES OPEN SLIGHTLY FIRMER",
"body": "CBT soybean futures opened steady, with\nnew crop slightly firmer, then rallied further to hold gains of\none cent to three cents per bushel higher in light early\ndealings.\n A firmer Gulf soybean basis this morning, strength in corn\nfutures and delays in the Brazilian soybean harvest supported\nsoybean futures, despite a disappointing drop in the weekly\nsoybean export figure yesterday afternoon, traders said.\n A local professional house and a local house were the\nfeatured buyers of July, with sellers scattered and small-lot,\npit brokers said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:18:44.72",
"id": "14062"
},
{
"title": "DOLLAR REMAINS IN NARROW RANGE IN QUIET ZURICH",
"body": "The dollar remained confined in the same\nnarrow range in quiet trading, benefitting only slightly from\ncomments by Fed Chairman Paul Volcker that further sizeable\ndollar losses would be counter-productive, dealers said.\n It finished at 1.5140/50 Swiss francs after opening at\n1.5128/38 and closing yesterday at 1.5185/95.\n \"Volcker's remarks produced some buying interest but most\npeople were still waiting to see what comes out of the finance\nministers' meetings in Washington,\" one dealer said.\n Other currencies lost ground against the Swiss franc.\n Sterling eased after advancing sharply yesterday on\nexpectations of an early U.K. General election. The pound ended\nat 2.4469/4501 francs compared with 2.4547/4578 yesterday.\n The mark slipped to 82.83/93 centimes from 83.11/21 and the\nFrench franc dipped to 24.90/94 from 24.98/25.02.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:18:57.30",
"id": "14063"
},
{
"date": " 7-APR-1987 11:19:14.60",
"id": "14064"
},
{
"date": " 7-APR-1987 11:19:21.24",
"id": "14065"
},
{
"date": " 7-APR-1987 11:19:24.46",
"id": "14066"
},
{
"title": "ST LOUIS CATTLE STEADY/UP 0.50 DLR - USDA",
"body": "slaughter steers were firm to 0.50 dlr\nhigher in active trade and heifers fully steady amid limited\nsupply, the usda said.\n steers - choice 2-4 975-1250 lbs 64.00-65.50, package 2-3\n1230 lbs 66.00.\n heifers - few lots choice 2-4 900-1075 lbs 61.50-63.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:19:32.58",
"id": "14067"
},
{
"title": "LIFFE, AFTER RECORD VOLUMES, SEES MORE GROWTH",
"body": "The records in turnover set by the London\nInternational Financial Futures Exchange (LIFFE) in March could\nbe surpassed in the coming months, Liffe Chief Executive\nMichael Jenkins said.\n Last month, Liffe saw record monthly futures volume at 1.15\nmln lots, and record monthly options volume at 97,700. Total\nLiffe volume in first quarter 1987 rose to 2.8 mln contracts,\nor 89 pct up on the same 1986 period.\n Long gilt turnover in first quarter 1987 was 300 pct up on\nthe year-ago period at 1.63 mln lots versus 409,500. But T-bond\nvolume fell by 38 pct to 244,500 in first three months 1987.\n Jenkins told Reuters the higher volumes for gilts reflected\nin part the volatility in the U.K. Markets in recent months,\nwhile the falloff in T-bonds was an indication of the relative\nstability of U.S. Credit markets.\n Jenkins said he saw room for the whole financial futures\nsector to grow further in the coming months. In particular, FT-\nSE 100 futures had great scope for expansion, and turnover in\nthem should be much higher by end 1987.\n FT-SE futures volume was 62,700 in first quarter 1987, an\nincrease of 124 pct over the 28,000 contracts recorded in the\nsame months of 1986.\n Institutions here had been slow to find out about the use\nof stock exchange futures, but they would now learn more,\nJenkins predicted.\n Commenting on the difference in popularity between gilts\nand bonds, Jenkins said Liffe had designed the widest possible\nvariety of contracts so that at any given time, at least one\nsector would be volatile enough to attract trading. The current\nsituation of U.S. Markets being steady, and U.K. Ones\nchangeable, might alter completely in coming months.\n A further boost to Liffe's volume and attractiveness should\ncome with the introduction of yen bond futures, he added.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:19:42.99",
"places": [
"uk"
],
"id": "14068"
},
{
"title": "NEW BEDFORD INSTITUTION FOR SAVINGS <NBBS> YEAR",
"body": "Net 12.3 mln vs 6,438,000\n NOTE: Company went public in March.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:20:07.42",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14069"
},
{
"title": "HONEYWELL BULL UNVEILS FIVE NEW COMPUTERS",
"body": "Honeywell Bull, a 1.9 billion dlr\ncomputer systems company formed March 27 by Honeywell Inc\n<HON>, Compagnie des Machines Bull of France and NEC Corp of\nJapan, said it introduced a line of high-performance computers\nfor medium and large companies.\n The company also unveiled software for the new systems to\nfacilitate patient care in hospitals and control inventory and\nproduction in factories.\n Honeywell Bull said its new line includes five models in\nthe DPS 7000 family of 32-bit virtual memory systems that\nsupport as many as 600 terminals and perform between 9,000 and\n52,000 transactions an hour.\n Prices for the systems will range from 127,000 dlrs to more\nthan 1.0 mln dlrs.\n It said two integrated, modular software packages\nintroduced are specifically for operation on DPS 7000\ncomputers.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:20:16.05",
"places": [
"usa"
],
"id": "14070"
},
{
"title": "OXFORD ENERGY CO <OEN> TO BUILD ENRGY PLANT",
"body": "The Oxford Energy Co said it received\nfinal approval from the Connecticut Department of Public Utiliy\nControl of a power contract for the company's tire burning\nenergy plant to be located in Sterling, Conn.\n The Oxford facility has an estimated total cost of\napproximately 70 mln dlrs, and is expected to start\nconstruction during the second half of 1987. Construction of\nthe project is subject to the receipt of various state and\nlocal permits, the company said, and the arrangement of\nfinancing.\n Under the terms of the order, issued by the Connecticut\nDepartment of Publc Utility Control, Connecticut Light and\nPower Co will be required to purchase the output of the\nSterling facility under a 25-year power purchase aagreemnt at\nprices fixed by the contract formulas, the company said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:20:25.56",
"places": [
"usa"
],
"id": "14071"
},
{
"title": "POLYDEX <POLXF> ANTI-WRINKLE INGREDIENT PATENTED",
"body": "Polydex Pharmaceuticals Ltd said a U.S.\npatent for an anti-wrinkle cream ingredient has been assigned\nto the company by its chairman, Thomas C. Usher.\n The company said the pantent was granted to Usher for skin\npermeable elastin.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:20:35.15",
"places": [
"canada"
],
"id": "14072"
},
{
"title": "DIGITAL TRANSMISSION <DTINU> OFFERS UNITS",
"body": "Digital Transmission Inc is offering\n400,000 units at 9.625 dlrs a unit, underwriter Muller and Co\nInc said.\n Net proceeds will be used for sales and marketing, research\nand development, capital equipment and working capital.\n The underwriter has been granted an over-allotment option\nto buy up to 60,000 more units. Each unit consists of four\nshares of class A common stock and one class A common stock\npurchase warrant.\n The stock and the warrants are not detachable or separately\ntradeable until six months after the offering or an earlier\ndate that may be determined by the underwriter.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:21:23.72",
"places": [
"usa"
],
"id": "14073"
},
{
"title": "CBT SOYPRODUCT FUTURES HIGHER IN EARLY TRADE",
"body": "CBT soyproduct futures traded higher\nearly in sympathy with the unexpected strength in soybeans,\nwith soyoil up 0.13 to 0.16 cent per lb and soymeal 0.40 to\n1.00 dlr per ton higher, traders said.\n A mostly steady tone in overseas vegetable oils and feeds\nmarkets underpinned initial values here, they added.\n A local professional house seen buying July soybeans also\nbought July soyoil, with Produce Grain a buyer of September,\npit brokers said. Continental Grain and E.F. Hutton bought July\nsoymeal, with sellers scattered and small-lot, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:21:43.64",
"id": "14074"
},
{
"date": " 7-APR-1987 11:22:07.10",
"id": "14075"
},
{
"date": " 7-APR-1987 11:22:21.38",
"id": "14076"
},
{
"title": "PRESIDENTIAL AIR <PAIR> IN SALE/LEASEBACK",
"body": "Presidential Airways Inc saiud it has\nsold 10 of its 11 Boeing 737's to Ryder System Inc <RDR>, which\nthen leased seven of the planes Boeing Co <BA> made planes back\nto Presidential on a short-term basis.\n The company said it ended long-term leases on the planes.\nThe short-term leases will run up to eight months and the\naircraft will be returned to Ryder on completion of present\ncharter commitments, coincinding with the expected deliveries\nof British Aerospace Bae146 jets.\n In Miami, Ryder said it will sell the three planes that\nPresidedntial will not lease back to other airlines.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:22:43.79",
"places": [
"usa"
],
"id": "14077"
},
{
"title": "MIDWEST GRAIN FUTURES 11:20 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 1/4 UP 1 3/4\n JUL7 281 UP 1/4\n SEP7 277 UP 1\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 11:22:49.89",
"id": "14078"
},
{
"date": " 7-APR-1987 11:22:54.90",
"id": "14079"
},
{
"title": "HIGHWOOD <HIWDF> COMMENTS ON SHARE PRICE RISE",
"body": "Highwood Resources Ltd said it is not\naware of any material change in the company's affairs to\naccount for recent trading activity in the company's shares,\nbut said it anticipates being a future producer of minerals\nused in electronic superconductors.\n Recent widespread publicity concerning superconductors\nsuggest a greatly increased demand for yttrium and lanthanide\nminerals, Highwood said.\n The company said it is developing such deposits at Thor\nLake, Northwest Territories in cooperation with Hecla Mining\nCo, of Idaho.\n Highwood Resources said the deposits contain beryllium,\nyttrium, lanthanides, niobium and tantalum. It did not\nimmediately elaborate on estimated reserves on the property.\n Highwood shares traded earlier on the Toronto Stock\nExchange at 6-7/8, up 1/8, after climbing 1-1/8 in yesterday's\nsession.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:23:03.31",
"places": [
"canada"
],
"id": "14080"
},
{
"title": "SPOT TIN SLIGHTLY LOWER ON EUROPEAN FREE MARKET",
"body": "Spot tin on the European free market was\nindicated in the range 4,200 to 4,230 stg per tonne, for high\ngrade metal in warehouse Rotterdam, down 10 stg from yesterday\nafternoon.\n Traders said the market remained quiet with sales reported\nbetween 4,230 and 4,210 stg and currency factors still tending\nto weigh on the price structure.\n There was still no sign of significant fresh end-user\nenquiry for second-quarter requirements, dealers said.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:24:04.76",
"id": "14081"
},
{
"date": " 7-APR-1987 11:24:14.88",
"id": "14082"
},
{
"date": " 7-APR-1987 11:24:26.16",
"id": "14083"
},
{
"title": "FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES",
"body": "The Federal Home Loan Bank Board\nadjusted the rates on its short-term discount notes as follows:\n MATURITY NEW RATE OLD RATE MATURITY\n 30-176 days 5.00 pct 5.00 pct 30-176 days\n 177-195 days 5.85 pct 5.83 pct 177-195 days\n 196-271 days 5.00 pct 5.00 pct 196-271 days\n 272-295 days 5.93 pct 5.91 pct 272-295 days\n 296-341 days 5.00 pct 5.00 pct 296-341 days\n 342-346 days 5.90 pct 5.90 pct 342-346 days\n 347-360 days 5.00 pct 5.00 pct 347-360 days\n Reuter\n\u0003",
"date": " 7-APR-1987 11:24:35.29",
"id": "14084"
},
{
"date": " 7-APR-1987 11:24:43.66",
"id": "14085"
},
{
"title": "GENERAL ELECTRIC<GE>-POWERED HELICOPTER UNVEILED",
"body": "General Electric Co said that EH\nIndustries, a joint effort between <Westland Helicopter> of\nEngland and the <Augusta Group> of Italy, rolled out the first\nprototype EH 101 helicopter in Yeovil, England.\n GE said the helicopter is powered by three GE\n T700 engines.\n The company added that the multi-mission EH 101 has naval,\nutility and civil models. The latter two will be powered by\n2,000 shaft horsepower CT7-6 engines being co-developed by GE,\n<Fiat Aviazione> and <Alfa Romeo Avio>, GE said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:24:52.01",
"places": [
"usa"
],
"id": "14086"
},
{
"title": "REUTER UNIT COMPLETES MERRILL LYNCH TRADING SYSTEM",
"body": "Rich Inc, wholly owned by Reuters\nHoldings Plc <RtrSY>, said it completed installation of a 20\nmln dlr trading system for Merrill Lynch and Co Inc <MER> in\nNew York.\n The company said its Composite Information System was\ndesigned and installed for Merrill Lynch in the investment\nfirm's World Financial Centre offices in downtown Manhattan.\n The system, which offers access to financial news, in-house\ncomputers, commercial television and other services, includes\n479 equity positions, 614 in the debt area and 152 municipal\nmarkets positions, the company said.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:25:13.55",
"places": [
"usa"
],
"id": "14087"
},
{
"title": "AFRICAN DEVELOPMENT BANK LOANS ROSE 42 PCT IN 1986",
"body": "The African Development Bank (ADB) said\nit increased its lending by 42.1 pct last year to 1.64 billion\ndlrs from 1.15 billion dlrs in 1985.\n A bank statement said agriculture, set as the main growth\narea in a five-year economic recovery program adopted in 1985\nby African states, received 607 mln dlrs, 37 pct of the total.\n The ADB is made up of the bank itself, its financing\nsoft-loan arm, the African Development Fund (ADF) and the\nNigeria Trust Fund, another soft-loan institution.\n ADB president Babacar N'Diaye released a 1987 economic\nreport on Africa prepared by the ADB and the U.N. Economic\nCommission for Africa (ECA), saying progress was being made\ntoward substantial increases in the bank's capital resources.\n He said an ad-hoc committee of the ADB board of governors,\ncomprising 18 African and non-African countries, recommended a\n200 pct increase in the organisation's capital for 1987-91.\n He said such an increase would raise capital from around\n6.55 billion dlrs to 19.66 billion dlrs, adding he was hopeful\nthe proposal would be adopted at the annual meetings of the\nbank and fund, due to be held jointly in Cairo in June.\n He welcomed France's recent proposals to the Paris Club of\nWestern government creditors to extend repayment periods for\nThird World debts and give better rescheduling terms.\n \"The proposition represents a major step forward. But\nAfrican countries should not be the ones to ask for large-scale\ndebt write-offs,\" he said. Africa's total external debt was\nestimated at 175 billion dlrs at the end of 1986.\n The ECA-ADB report said prospects would remain bleak for\nAfrican economies in 1987 but predicted Gross Domestic Product\n(GDP) growth ranging between 2.5 and four pct, compared with\n1.2 pct last year.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:25:28.75",
"organisations": [
"adb-africa"
],
"places": [
"ivory-coast"
],
"id": "14088"
},
{
"title": "OMAHA CATTLE UP 0.50 DLR - USDA",
"body": "barrow and gilt prices rose 0.50 dlr in\nmoderately active trade, the usda said.\n steers - choice 2-4 1100-1400 lbs 66.50-67.50, two loads\n68.00-68.50.\n heifers - choice 2-4 975-1150 lbs 64.50-65.00, two loads\n65.75-66.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:25:33.92",
"id": "14089"
},
{
"title": "MELRIDGE <BULB> UNIT IN REAL ESTATE AGREEMENT",
"body": "Melridge Inc said its 50 pct\nowned Conroy's Inc subsidiarey, which franchises flower shops,\nhas entered into an agreement for an affiliate of Public\nStorage Inc to acquire and develop real estate for the\nexpansion of Conroy's franchise operations.\n The company said under the agreement, Public Storage will\nobtain an undisclosed equity interest in Conroy's and Melridge\nand undisclosed equity interest in the Public Storage affiliate.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:00.73",
"places": [
"usa"
],
"id": "14090"
},
{
"title": "PHOTRONICS CORP <PHOT> YEAR FEB 28 NET",
"body": "Shr 64 cts vs 38 cts\n Net 1,062,000 vs 585,000\n Sales 13.6 mln vs 9,262,000\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:03.54",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14091"
},
{
"title": "MIDWAY AIRLINES <MDWY> MARCH LOAD FACTOR FALLS",
"body": "Midway Airlines Inc said its March load\nfactor declined to 59.2 pct from 61.3 pct in the same year-ago\nperiod.\n It said revenue passenger miles increased to 200.9 mln from\n167.2 mln, and available seat miles rose to 339.5 mln from\n272.9 mln.\n Year to date, Midway said its load factor declined to 56.1\npct from 57.8 pct. It said revenue passenger miles gained to\n534.0 mln from 450.0 mln, and available seat miles went to\n952.1 mln from 778.8 mln.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:10.82",
"places": [
"usa"
],
"id": "14092"
},
{
"title": "OCEAN BIO-CHEM INC <OBCI> YEAR NET",
"body": "Shr eight cts vs seven cts\n Net 215,821 vs 196,873\n Sales 3,112,571 vs 2,649,003\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:15.17",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14093"
},
{
"title": "LOWE'S <LOW> TO SELL DURAKON <DRKN> LINER",
"body": "Durakon Industries Inc said its\nAll Star Liner will be sold as the exclusive pickup truckbed\nliner in Lowe's Cos Inc's 300 retail home center outlets in the\nSoutheastern U.S.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:20.18",
"places": [
"usa"
],
"id": "14094"
},
{
"title": "FEDERAL RESOURCES <FDRC> NAMES NEW PRESIDENT",
"body": "Federal Resources Corp said it has\nnamed John Kotts president and chief operating officer,\nreplacing Paul Hannesson, who remains chairman and chief\nexecutive officer.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:26.25",
"places": [
"usa"
],
"id": "14095"
},
{
"title": "WALKER TELECOMMUNICATIONS <WTEL> GETS CONTRACT",
"body": "Walker Telecommunications corp\nsaid Teledial America has selected the fiber optic system\noperated by Walker's Mutual Signal Corp subsidiary to carry\nTeledial's traffic in Michigan and link interstate facilities\nthroughout the country.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:32.68",
"places": [
"usa"
],
"id": "14096"
},
{
"date": " 7-APR-1987 11:26:38.09",
"id": "14097"
},
{
"title": "AIDC ISSUES AUSTRALIAN DOLLAR ZERO COUPON EUROBOND",
"body": "Australian Industry Development Corp is\nissuing a zero coupon eurobond with total redemption amount 30\nmln Australian dlrs, lead manager Orion Royal Bank Ltd said.\n The issue matures on May 12, 1992 and is priced at 53-1/2\npct. It is available in denominations of 1,000 and 10,000\nAustralian dlrs and will be listed in Luxembourg. Payment date\nis May 12.\n Credit Suisse First Boston Ltd, Commerzbank AG, Hambros\nBank Ltd and Merrill Lynch Capital Markets are co-lead\nmanagers. There will be no co-managers. Fees total 1-3/8 pct.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:26:46.45",
"places": [
"australia",
"uk"
],
"id": "14098"
},
{
"title": "TELE-COMMUNICATIONS <TCOMA> SELLS CABLE SYSTEMS",
"body": "Knight-Ridder Inc <KRI> said its TKR Cable\nCo joint venture with Tele-communications Inc has signed a\nletter of intent to acquire cable television systems with\n55,000 basic subscribers in Wildwood, N.J., and Ramapo and\nWarwick, N.Y., from Tele-Communications for undisclosed terms.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:26:54.21",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14099"
},
{
"title": "SWEDISH FINANCE FIRMS SEEN HIT BY DEREGULATION",
"body": "Up to 70 pct of the 240 finance\ncompanies operating in Sweden are likely to be squeezed out\nover the next few years by the deregulation of financial\nmarkets, the Association of Swedish Finance Companies said.\n Association chairman Arne Ogren told a news conference that\na major restructuring of the sector was inevitable.\n Central Bank governor Bengt Dennis said when announcing the\nderegulation in November 1985 that one of his main aims was to\ngive commercial banks a chance to compete on equal terms with\nfinance companies and so undermine Sweden's \"grey market.\"\n Total credit granted by the Swedish finance companies rose\nto 77 billion crowns in 1986 from 64.7 billion in 1985. This\nincludes leasing and is the equivalent of 19 pct of all\noutstanding loans by the banking sector at end-1986.\n Ogren said that if proposals now being discussed by a\ngovernment-appointed inquiry into the credit market to license\nfinance companies and make them increase their share capital\nwere pushed through, up to 70 pct would disappear.\n But he said this would in fact have little effect on credit\nvolumes as the 42 biggest finance companies accounted for 70\npct of lending by the entire sector.\n The explosive growth of Swedish finance companies began in\nthe early 1970s and commercial banks even started their own to\nget around the tight restrictions then imposed on banking\nactivities and particularly on the growth of lending.\n Now that they were on an equal footing with their parent\ncompanies, many bank-owned finance companies faced an identity\ncrisis, Ogren said. He predicted there would be mergers and\nindividual firms would carve out specialised niches to ensure\ntheir survival in a deregulated climate.\n Ogren said the sector's losses on bad loans were bound to\nrise steeply in 1989-1990 due to the rush to increase credit.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:27:05.91",
"places": [
"sweden"
],
"id": "14100"
},
{
"date": " 7-APR-1987 11:27:09.78",
"id": "14101"
},
{
"title": "WALL STREET STOCKS HIGHER IN LATE MORNING",
"body": "Wall Street stocks staged a strong\nrebound after being hurt by an early round of futures related\nsell programs and profit taking. The advance was led by\nautomakers and a firm oil sector. Special situation stocks\nTexaco and UAL were actively traded.\n The Dow Jones Industrial Average, down more than 10 points\nin the first minutes of trading, stood at 2415, up 10 late this\nmorning. Advances led declines by only a slight margin on\nvolume of 77 mln shares. GM gained two to 83-1/2 and Ford one\nto 91-1/8. Chrysler rose 1/4 to 58-1/2. Texaco gained 3/8 to 34\nand UAL fell 5/8 to 65-1/8.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:27:32.98",
"id": "14102"
},
{
"title": "ENVIRONMENTAL POWER CORP <POWR> YEAR NET",
"body": "Shr profit 25 cts vs loss 15 cts\n Net profit 998,000 vs loss 612,000\n Revs 8,086,000 vs 365,000\n Reuter\n\u0003",
"date": " 7-APR-1987 11:27:36.66",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14103"
},
{
"date": " 7-APR-1987 11:27:41.85",
"id": "14104"
},
{
"date": " 7-APR-1987 11:29:00.04",
"id": "14105"
},
{
"title": "SWEDISH INDUSTRY SEES HIGHER 1987 PRODUCTION",
"body": "Swedish industry expects a rise in\nboth production and exports during this year, with engineering\nand forest companies forecasting the largest increases, a\nsurvey by the National Institute for Economic Research showed.\n The government institute said in the survey -- of 2,000\nmanufacturing companies -- that industry this year planned to\nreduce both raw material and finished goods inventories.\n It said domestic demand was expected to be mainly unchanged\nbut that exports should rise significantly. The number of firms\noperating at full capacity fell slightly, however, in the first\nquarter, said the report, which gave no figures.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:30:19.28",
"places": [
"sweden"
],
"id": "14106"
},
{
"title": "U.S. ENERGY FUTURES STEADY BUT QUIET",
"body": "U.S. energy futures traded consistently\nabove yesterday's closing prices in thin activity this morning\nwith underlying support from April 15-day forward North Sea\nBrent crude, traders said.\n April Brent traded as high as 19.40 dlrs a barrel today, or\nmore than 1.00 dlr above May Brent prices, because of a supply\nsqueeze, according to traders.\n \"U.S. energy futures are probably influenced by April Brent\nmore than anything else today,\" said John O'Connell, assistant\nvice president at Refco, Inc.\n May crude was up 18 cts to 18.85 dlrs a barrel.\n \"There is no reason to sell energy futures at these prices\nbecause the fundamentals have not changed,\" said O'Connell,\nadding that the OPEC pricing/production accord continues to\nhold.\n Mixed trade participants dominated crude futures while\nlocal traders were featured in products, traders said. They\nsaid U.S. energy futures ran into resistance at today's highs.\n May heating oil was up 0.46 cent at 49.25 cts a gallon\nafter trading within a narrow 0.30-cent range. May unleaded\ngasoline was up 0.61 cent to 53.55 cts a gallon, at the high\nend of a 0.35-cent range.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:31:22.60",
"id": "14107"
},
{
"date": " 7-APR-1987 11:31:33.90",
"id": "14108"
},
{
"title": "GERMAN LONG-TERM CAPITAL INFLOW SLUMPS IN FEBRUARY",
"body": "The inflow of long-term capital into\nWest Germany slumped to 606 mln marks in February from\nJanuary's record 11.91 billion, with foreign purchases of\nGerman bonds and shares declining sharply, the Bundesbank said.\n While foreigners bought only four billion marks worth of\nGerman bonds in February after 13 billion in January, they sold\na net 500 mln marks in shares and promissory notes of public\nauthorities after sales worth 300 mln in January.\n With German investors' purchases of foreign securities\nsteady around 1.3 billion marks, only 2.2 billion marks were\nimported through securities transactions, after 11.2 billion.\n Direct investment abroad led to a capital outflow of 1.60\nbillion marks in February after 2.83 billion in January.\n There was a deficit of 8.14 billion marks in the short-term\ncapital account after a surplus of 194 mln in January.\n Banks alone exported some 8.6 billion marks in funds while\ndomestic companies increased their short-term financial assets\nabroad by 700 mln. But public authorities received some one\nbillion marks from abroad, the Bundesbank said in a statement.\n Combining long and short term capital outflows, West\nGermany recorded a net outflow of 7.53 billion marks in\nFebruary against a net inflow of 11.91 billion in January.\n The Bundesbank confirmed the German trade surplus widened\nto 10.45 billion marks in February from January's 7.20 billion.\n Taking the two months together the seasonally adjusted\nsurplus was slightly below the figure for the previous two. In\nterms of current as well as constant prices, the narrowing of\nthe surplus was progressing, the bank said.\n Germany's current account surplus widened to 6.63 billion\nmarks in February from 4.79 billion in January, but was down on\nthe 7.26 billion figure for February 1986. Seasonally adjusted,\nthe February current account surplus narrowed against January.\n While exports in February fell a half pct against the same\nmonth last year, imports fell 10-1/2 pct largely due to the\ndrop in prices. Exports grew three pct in volume and imports\ntwo pct.\n In the balance of services, a fall in net investment income\nled to a 300 mln mark deficit in February after a 300 mln mark\nsurplus in January.\n The deficit in transfer payments widened to 3.70 billion\nmarks from 2.69 billion, largely due to a sharp jump to 2.3\nbillion marks from 200 mln in payments to the European\nCommunity budget.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:31:45.07",
"topics": [
"bop",
"trade"
],
"places": [
"west-germany"
],
"id": "14109"
},
{
"date": " 7-APR-1987 11:32:02.91",
"id": "14110"
},
{
"title": "BRITISH TELECOM, NTT SIGN COOPERATION AGREEMENT",
"body": "British Telecommunications Plc <BTY.L>\nsaid it had signed a collaboration agreement with Nippon\nTelegraph and Telephone Corp on the exchange of personnel and\ninformation over a three-year period beginning April 7.\n The company said in a statement the plan is designed to\npromote increased business activities of both firms.\n In a separate statement British Telecommunications said\nthat it had signed a two-year, eight mln Canadian dlr,\ndistribution agreement with <Gandalf Technologies Inc> of\nCanada to distribute its Mezza VoiceStation system in Canada\nand the U.S.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:32:20.53",
"places": [
"uk"
],
"id": "14111"
},
{
"date": " 7-APR-1987 11:32:24.86",
"id": "14112"
},
{
"date": " 7-APR-1987 11:33:05.82",
"id": "14113"
},
{
"date": " 7-APR-1987 11:33:28.53",
"id": "14114"
},
{
"title": "SIOUX CITY CATTLE UP 0.50/1.00 DLR - USDA",
"body": "slaughter cattle rose 0.50 to 1.00\ndlr in active trade, the usda said.\n steers - choice 2-3 1100-1300 lbs 66.50-68.00.\n heifers - one load high dressing choice 3 near 1100 lbs\n66.75. choice 2-4 975-1100 lbs 65.00-66.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:33:32.86",
"id": "14115"
},
{
"date": " 7-APR-1987 11:33:38.35",
"id": "14116"
},
{
"title": "N.Y. COTTON FUTURES STEADY IN EARLY TRADING",
"body": "Cotton futures were steady this morning\non commission house buying. But trade selling was keeping gains\nto a minimum, brokers said.\n There was no news, but brokers said the market is \ntechnically weak and in search of a bottom. Recent news of poor\nexport sales remained a damper, brokers said.\n Cotton for May delivery was up 0.25 cent at 56.05 cents a\nlb in a 56.30 to 55.80 cent range.\n December delivery was up 0.40 cent at 55.15 cents.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:34:06.35",
"id": "14117"
},
{
"date": " 7-APR-1987 11:34:12.86",
"id": "14118"
},
{
"title": "SIOUX CITY HOGS STEADY/UP 1.25 DLR - USDA",
"body": "barrow and gilt prices were mostly\n1.00 dlr higher, instances up 1.25, few early sales steady to\nup 0.50 dlr, in active trade, the usda said. top 51.50 dlrs per\ncwt.\n us 1-3 220-260 lbs near 275 head 51.75.\n us 1-3 220-260 lbs 51.00-51.50, near 360 head early\n50.50-51.00 and 200-220 lbs 50.00-51.00.\n sows - up 2.00 dlrs. us 1-3 500-650 lbs 47.50-48.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:34:19.38",
"id": "14119"
},
{
"date": " 7-APR-1987 11:34:25.14",
"id": "14120"
},
{
"title": "MIDWEST GRAIN FUTURES 11:31 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 UP 1 1/2\n JUL7 281 UP 1/4\n SEP7 277 UP 1\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 11:34:35.32",
"id": "14121"
},
{
"date": " 7-APR-1987 11:34:50.89",
"id": "14122"
},
{
"date": " 7-APR-1987 11:35:11.79",
"id": "14123"
},
{
"date": " 7-APR-1987 11:35:33.77",
"id": "14124"
},
{
"date": " 7-APR-1987 11:35:50.04",
"id": "14125"
},
{
"title": "EC SOURCES SAY UK WHEAT PLAN YET TO BE APPROVED",
"body": "The European Commission has not taken a\ndecision on applications from the British government for the\nrelease of 200,000 tonnes of intervention feed wheat onto the\nBritish market in May and June, Commission sources said.\n They said last week's cereals management committee agreed\nto release 70,000 tonnes of feed wheat through weekly tenders\nbetween April 14 and May 26. It also indicated it planned to\nallow the release of another 30,000 tonnes from April 23.\n However, it decided to leave consideration of the release\nof further wheat until later.\n The British government had applied for the release of a\nfurther 100,000 tonnes in both May and June from British\nintervention stores to prevent market prices rising.\n However, the sources said, the Commission wanted to review\nthe market situation nearer the time before giving its\napproval.\n The Commission was given new powers last year to control\nthe release of intervention cereals onto the market, the\nsources noted.\n Following last week's committee meeting, the U.K. Ministry\nof Agriculture said the Commission had given an assurance that\nadditional quantities of intervention wheat would be made\navailable in May and June. It also said that it was envisaged\nthat monthly releases would be at least 100,000 tonnes,\ndepending on the state of the market.\n This lead to the widespread assumption that the Commission\nhad actually approved the release of 300,000 tonnes during the\nthree months of April, May and June at last week's meeting.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:36:02.32",
"topics": [
"grain",
"wheat"
],
"organisations": [
"ec"
],
"places": [
"belgium",
"uk"
],
"id": "14126"
},
{
"date": " 7-APR-1987 11:36:07.75",
"id": "14127"
},
{
"date": " 7-APR-1987 11:36:13.16",
"id": "14128"
},
{
"date": " 7-APR-1987 11:36:25.49",
"id": "14129"
},
{
"date": " 7-APR-1987 11:36:42.57",
"id": "14130"
},
{
"title": "BROKERAGE FIRM UPS STAKE IN ALLEGHENY <AG>",
"body": "The New York brokerage firm of Spear,\nLeeds and Kellogg told the Securities and Exchange Commission\nit had increased its preferred stock in Allegheny International\nInc to 8.6 pct, from 7 pct.\n It said it may buy additional shares, but had not decided\nwhether to offer its shares in response to a tender offer by\nSunter Acquisition Corp, a unit of First Boston Inc.\n The brokerage firm said it bought the Allegheny shares\nMarch 30-April 2 for 86.50-87.25 dlrs each.\n reuter\n\u0003",
"date": " 7-APR-1987 11:36:51.22",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14131"
},
{
"title": "U.K. GRAIN FUTURES CLOSE STEADY TO FIRMER",
"body": "Barley futures closed 0.15 to 0.05 stg\nper tonne higher and wheat 0.60 to 0.20 firmer. Barley turnover\nwas light at 47 lots, including 24 cross transactions, while\nthe wheat volume totalled 197 lots, of which 81 were self\ntrades.\n Traders said wheat futures continued to trade cautiously\nbut old crop values moved higher on short covering interest\nwith gains in physicals influencing sentiment. Barley showed\nsmaller gains in lighter trading.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:37:10.88",
"id": "14132"
},
{
"title": "KANSAS CITY SHIPMENTS AND RECEIPTS",
"body": "in bushels\n Truck Receipts\n Wheat 73,684\n Corn 17,979\n Grain\n Sorghum 4,391\n Soybns 72,180\n Truck Shipments\n Corn 8,000\n Barge Shipments - None\n Reuter\n\u0003",
"date": " 7-APR-1987 11:37:15.91",
"id": "14133"
},
{
"date": " 7-APR-1987 11:37:21.03",
"id": "14134"
},
{
"title": "STONE <STO> FILES FOR SECONDARY OFFERING",
"body": "Stone Container Corp said it filed a\nregistration statement for a secondary offering of 1,933,453\nshares of its common stock.\n It said the shares and warrants originally were issued to\nChampion International Corp, a holder of 1,633,453 shares of\nStone common stock and warrants to buy an additional 300,000\ncommon shares, in connection with the February, 1986\nacquisition by the company of a major portion of Champion's\nBrown Papers System.\n Stone said it will receive 9.75 mln dlrs from underwriters\nas a result of their exercise of the warrants.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:37:31.71",
"places": [
"usa"
],
"id": "14135"
},
{
"title": "LME METAL PM 2ND RING VOLUMES/PAIDS - APR 7",
"body": "Cash easier 3months barely steady 3000\n(Total 6250) about half carries tonnes cash 909.50 3months\n880.00 79.00 78.50 78.00 77.50 78.00 78.50 79.00\n COPPER STANDARD - Quiet 75 tonnes cash 861.00 3months nil\nLEAD - Steady 2900 (3250) tonnes mainly carries cash 308.00\n3months 301.50\n ZINC HIGH GRADE - Steady but quiet 750 (2500) tonnes mainly\ncarries cash nil 3months nil\n SILVER LARGE and SILVER SMALL - Nil\n ALUMINIUM - Barely steady 4650 (7850) tonnes mainly carries\ncash nil 3months 805.50 04.00 03.50\n NICKEL - quiet nil (216) tonnes mainly carries cash nil\n3months nil\n REUTER\n\u0003",
"date": " 7-APR-1987 11:37:44.45",
"id": "14136"
},
{
"date": " 7-APR-1987 11:37:52.13",
"id": "14137"
},
{
"date": " 7-APR-1987 11:38:21.08",
"id": "14138"
},
{
"title": "SPOT LARD, TALLOW, GREASE STEADY",
"body": "Spot lard, tallow and grease were\nunchanged in early trading, cash dealers said.\n Spot Chicago centrifugal process lard in rail cars traded\nat 14.50 cents a lb, unchanged. Edible tallow traded at 14.00\ncents, and inedible bleachable fancy tallow was quoted at 12.50\ncents, both unchanged. Choice white grease (all hog) traded at\n10.50 cents, unchanged.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:38:34.64",
"id": "14139"
},
{
"title": "BOEING PROPOSES WESTLAND DEAL",
"body": "Boeing Co <BA.N> said its Boeing Vertol\nhelicopter unit proposed that U.K. Helicopter maker <Westland\nPlc> should build up to a third of all future Chinooks for\nBritain's airforce.\n A Boeing statement made here said the work would involve up\nto 12,500 man-hours per machine, and solve some of Westland's\nshort-term workload problems. It comes amid speculation that\nBritain may pull out of the European EH-101 project, with the\npossibility of up to 2,000 Westland job losses.\n Westland was rescued last year by United Technologies Corp\n<UTX.N> and Fiat Spa <FIAT.MI>.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:38:45.21",
"places": [
"uk"
],
"id": "14140"
},
{
"title": "ENVIRONMENTAL POWER <POWR> GETS CONTRACTS",
"body": "Environmental Power Corp said it has\nsigned a 50 year contract to sell power from its 12-megawatt\nAllegheny River Lock and Dam Number Seven Project near\nKittanning, Pa., to Allegheny Power System Inc <AYP>.\n The company said the project is expected to produce an\naverage electrical output of 55 mln kilowatt hours when\ncompleted and is contingent on Environmental obtaining a\nFederal Energy Regulatory Commission license.\n The company said it has also signed a 15-year contract to\nsell all power to be generated by 2.6 megawatt hydroelectric\nproject at Falls Lake Dame near Raleigh, N.C., to Carolina\nPower and Light Co <CPL>. The average expected annual\nelectrical output is 11 mln kilowatt hours.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:39:05.68",
"places": [
"usa"
],
"id": "14141"
},
{
"date": " 7-APR-1987 11:39:07.93",
"id": "14142"
},
{
"title": "LONE STAR <LCE> SEES FLAT U.S. CEMENT DEMAND",
"body": "Lone Star Industries Inc\nexpects demand for cement om the U.S. to remain in the 85-90\nmln ton range through 1992, its annual report said.\n The company said U.S. cement consumption totaled 90.6 mln\ntons last year, up four pct from 1985.\n Lone Star also said it expects consolidation and\ninternationalization of the U.S. cement industry to continue,\nadding foreign companies now own over 50 pct of U.S. capacity.\n Since 1974, it added, more than 30 cement plants have\nclosed. \"In our opinion, the industry's annual cement capacity\ntoday is, in reality, less than 80 mln tons\" a year, it added.\n Lone Star said the gap between supply and demand is being\nfilled by imported cement, which accounted for 18 pct of\ndomestic consumption last year, up from four pct ten years ago.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:39:23.24",
"places": [
"usa"
],
"id": "14143"
},
{
"date": " 7-APR-1987 11:39:44.07",
"id": "14144"
},
{
"title": "U.S. ALUMINUM STOCKS HIGHER IN DECEMBER - ABMS",
"body": "Total U.S. aluminum stocks held by\nintegrated and non-integrated producers and smelters including\nscrap, ingot, metal in process and finished products rose to\n2,470,000 short tons in December from 2,451,000 short tons in\nNovember, American Bureau Metal Statistics said.\n Primary production rose to 278,000 tons in December from\n263,000 tons in November. Imports for consumption declined to\n114,000 tons in December from 150,000 tons in November.\n Net shipments eased to 605,000 tons in December from\n608,000 tons in November. Ingot shipments were 87,000 tons\nversus 99,000 tons, mill products shipments were 435,000 tons\nversus 420,000 tons and casting shipments were 83,000 versus\n89,000.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:40:18.58",
"id": "14145"
},
{
"title": "MALTA TENDERS FOR WHITE SUGAR TODAY - TRADE",
"body": "Malta is tendering to buy 3,000 tonnes\nwhite sugar today for arrival in two equal parts in May and\nJune, traders said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:40:28.57",
"topics": [
"sugar"
],
"places": [
"uk",
"malta"
],
"id": "14146"
},
{
"title": "CALTON <CN> OFFERING DECLARED EFFECTIVE",
"body": "Calton Inc said a\nregistration statement was declared effective by the Securities\nand Exchange Commission for the public offering of 2,500,000\nshares of its common at 12-7/8 dlrs a share.\n Calton said the public offering began today.\n The offering is being underwritten by Merrill Lynch Capital\nMarkets.\n Calton said it will use the net proceeds, about 12.2 mln\ndlrs, for general corporate purposes.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:40:36.69",
"places": [
"usa"
],
"id": "14147"
},
{
"title": "CHILI'S <CHLI> FILES FOR CONVERTIBLE DEBENTURES",
"body": "Chili's Inc said it filed with the\nSecurities and Exchange Commission a registration statement\ncovering a 35 mln dlr issue of convertible subordinated\ndebentures.\n Net proceeds will be used primarily to retire outstanding\nbank debt, Chili's said. The remainder will fund capital\nexpenditures for additional restaurants and for general\ncorporate purposes. The company currently operates 95\nrestaurants in 16 different states.\n Chili's named Goldman, Sachs and Co and Alex Brown and Sons\nInc as underwriters.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:41:14.30",
"places": [
"usa"
],
"id": "14148"
},
{
"title": "GOTTHARD BANK SELLS WARRANTS INTO DAINIPPON INK",
"body": "Gotthard Bank said it is\nselling 65,000 covered warrants at 255 Swiss francs each\nexercisable into shares of Dainippon Ink and Chemicals Inc.\n Each warrant entitles the holder to buy 100 shares in the\ncompany in the period from May 15, 1987 until August 13, 1993\nat an exercise price of 505 yen per share. The shares closed\ntoday at 700 yen.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:41:21.34",
"places": [
"switzerland"
],
"id": "14149"
},
{
"title": "FED SETS TWO-DAY SYSTEM REPURCHASES, FED SAYS\n",
"date": " 7-APR-1987 11:41:25.97",
"topics": [
"money-fx"
],
"id": "14150"
},
{
"title": "ALIAS RESEARCH IN CAPITAL JOINT VENTURE",
"body": "<Alias Research Inc> said it entered\ninto a four mln dlr joint venture capital investment with\nseveral firms led by <TA Associates> of Boston.\n Joining TA Associates are <Greylock Management Corp>, and\n<Crownx> of Toronto, Alias said.\n Alias, which develops 3D computer graphics software, said\nthe investment capital will be used to support ongoing research\nand development and to extend worldwide marketing initiatives.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:41:33.80",
"places": [
"canada"
],
"id": "14151"
},
{
"date": " 7-APR-1987 11:41:41.30",
"id": "14152"
},
{
"title": "EMERY AIR <EAF> MARCH SHIPMENTS RISE",
"body": "emery Air Freight Corp said March\nshipments were up 19 pct to 1,349,000 from 1,134,000 a year\nearlier and weight was up 27 pct to 61.4 mln pounds from 48.4\nmln.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:41:48.26",
"places": [
"usa"
],
"id": "14153"
},
{
"title": "CORROON AND BLACK <CBL> COMPLETE ACQUISITION",
"body": "Corroon and Black Corp said it\ncompleted the acuqisition of <Contractors Planning Group Inc>\nin an exchange of shares.\n Contractors is headquartered in Garden City, N.Y., and has\nbranch offices in Philadelphia, Boston, and Cheshire, Conn.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:41:53.70",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14154"
},
{
"date": " 7-APR-1987 11:41:56.92",
"id": "14155"
},
{
"title": "COLONIAL <CLBGA> TO ACQUIRE PENSACOLA BANK",
"body": "Colonial BancGroup said it and\nThe Liberty Bank of Pensacola, Fla., signed a letter of intent\nfor Colonial to acquire Liberty.\n Terms of the acquisition were not dislcosed.\n Colonial said the acquisition was its first move toward\nacquiring and out-of-state bank under Alabama's regional\ninterstate banking law.\n Liberty has total assets of 35 mln dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:42:11.28",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14156"
},
{
"title": "KANSAS CITY WHEAT MARGINALLY FIRMER AT MIDDAY",
"body": "Hard wheat futures traded 1/4 cent\nhigher to steady in light midsession trading as firm Chicago\nwheat futures and hopes for new export sales this week lent\nsupport, traders said. May stood 1/4 cent higher at 2.74 dlrs.\n Trading was light with little fresh direction in the\nmarket. Traders awaited results on Jordan's Export Bonus tender\nfor hard wheat and Egypt's tender this week for flour.\n Staley bought July and the July/December spread traded at\n7-1/2 cents, pit brokers said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:42:24.14",
"id": "14157"
},
{
"date": " 7-APR-1987 11:42:28.78",
"id": "14158"
},
{
"title": "MIDWEST GRAIN FUTURES 11:40 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 284 1/2 UP 1\n JUL7 281 UP 1/4\n SEP7 277 UP 1\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 11:42:35.24",
"id": "14159"
},
{
"title": "ST JOSEPH HOGS UP 1.00/1.50 DLR - USDA",
"body": "barrow and gilt prices rose 1.00 to\n1.50 dlr, the usda said. us 1-3 215-260 lbs 51.00-51.50.\n sows - up 1.00 dlr. us 1-3 500-650 lbs 46.50-47.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:42:38.88",
"id": "14160"
},
{
"title": "Ia-So Minn direct hogs estimated rcpts 80,000 vs actual week ago 85,000 and actual year ago 72,000.\n",
"date": " 7-APR-1987 11:42:51.07",
"id": "14161"
},
{
"date": " 7-APR-1987 11:43:00.30",
"id": "14162"
},
{
"title": "OHIO DIRECT HOGS UP 1.00 DLR - USDA",
"body": "Barrow and gilt prices gained 1.00 dlr\non moderate to good demand. Top 51.25 dlrs per cwt.\n COUNTRY AT PLANT\n U.S. 1-2 210-240 49.25-50.00 50.00-51.25\n U.S. 1-3 240-260 48.25-49.00 49.00-50.25\n actual receipts yesterday 10,800\n estimated receipts today 6,500\n actual week ago 8,800\n actual year ago 9,100\n week to date estimates 17,300\n actuals week ago 18,400\n actuals year ago 19,100\n Reuter\n\u0003",
"date": " 7-APR-1987 11:43:06.84",
"id": "14163"
},
{
"title": "ONTARIO TREASURY BILL YIELD RISES",
"body": "This week's Ontario government auction\nof 50 mln dlrs worth of 91-day treasury bills yielded an\naverage of 6.91 pct, up from 6.87 pct last week, a treasury\ndepartment spokesman said. Average price was 98.307.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:43:12.23",
"places": [
"canada"
],
"id": "14164"
},
{
"title": "UNIVERSITY <UPT> REPORTS MARCH LENS SALE",
"body": "University Patents Inc said its\noptical products subsidiary sold 5,652 Alges soft bifocal\ncontact lenses in March, after allowances for exchanges and\nreturns.\n The lenses were approved for marketing in April 1986 by the\nFood and Drug Administration.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:43:16.57",
"places": [
"usa"
],
"id": "14165"
},
{
"title": "SUPER RITE FOODS INC <SRFI> SETS QTRLY PAYOUT",
"body": "Qtrly div five cts vs five cts prior\n Pay April 27\n Record April 20\n\u0003",
"date": " 7-APR-1987 11:43:20.13",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14166"
},
{
"title": "KANSAS CITY HOGS UP 1.50 DLR - USDA",
"body": "barrow and gilt prices rose 1.50\ndlr, the usda said. us 1-3 210-260 lbs 51.00-51.50.\n sows - up 1.00/1.50 dlr. us 1-3 300-600 lbs 46.00-46.50.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:43:23.41",
"id": "14167"
},
{
"title": "MILTON ROY CO <MRC> SETS QUARTERLY",
"body": "Qtly div 11 cts vs 11 cts prior\n Pay June 15\n Record May 15\n Reuter\n\u0003",
"date": " 7-APR-1987 11:43:27.21",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14168"
},
{
"title": "JOLIET HOGS UP 1.00 DLR - USDA",
"body": "barrow and gilt prices rose 1.00 dlr in\nmoderately active trade, usda said. us 1-3 230-240 lbs 51.50.\n sows - none.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:43:33.97",
"id": "14169"
},
{
"date": " 7-APR-1987 11:43:42.22",
"id": "14170"
},
{
"title": "INDIANA DIRECT HOGS UP 1.00/1.50 DLR - USDA",
"body": "barrows and gilt rose 1.00 to 1.50\ndlr amid good demand, the usda said. top 51.00 dlrs per cwt.\n us 1-2 210-250 lbs 50.00-50.75, few 51.00.\n us 1-3 210-250 lbs 49.50-50.25 and 250-260 lbs 48.50-49.75.\n sows - steady/up 1.00 dlr.\n us 1-3 500-650 lbs 41.00-45.00, few 46.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:44:02.68",
"id": "14171"
},
{
"date": " 7-APR-1987 11:44:12.51",
"id": "14172"
},
{
"title": "DELTA AIR <DAL> TO EXPAND PASSENGER TERMINAL",
"body": "Delta Air Lines Inc said it began\nconstruction to expand its passenger terminal facilities at\nDallas/Fort Worth International Airport.\n Adding a new nine-gate terminal that will be connected to\nDelta's existing terminal by an underground tunnel will cost\nabout 20 mln dlrs, a Delta spokesman said.\n The carrier will have a total of 32 gates, up from the\ncurrent 23, when the terminal is completed in late 1988.\n With the new \"satellite\" terminal, Delta will be able to\nexpand to more than 300 daily flights at the airport, up from\nabout 200 currently, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:44:20.56",
"places": [
"usa"
],
"id": "14173"
},
{
"date": " 7-APR-1987 11:44:26.03",
"id": "14174"
},
{
"title": "DOLLAR STEADY IN LATE PARIS TRADING",
"body": "The dollar was steady on the day but\nslightly down on yesterday's late range in very quiet trading\nwith operators generally opting for caution ahead of this\nweek's monetary meetings in Washington, dealers said.\n The dollar was quoted at a late 6.0640/70 francs after a\nfix at 6.0620, an early 6.0565/90 and yesterday's late\n6.0710/30.\n The mark was quoted at a late 332.69/71 francs per 100\nafter a fix at 332.70, an early 332.72/75 and last night's\n332.70/72 range.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:44:52.35",
"id": "14175"
},
{
"date": " 7-APR-1987 11:44:57.75",
"id": "14176"
},
{
"title": "GOLDSIL AND GOLDEN RULE AGREE TO MERGE",
"body": "<Golden Rule Resources Ltd> and\nGoldsil Resources Ltd said they had agreed to merge.\n The merged company will issue to each Golden Rule\nshareholder 1-1/2 shares and one warrant. The warrant will be\nfor a term of two years. Payment of 3.10 dlrs and delivery of\ntwo warrants will entitle the shareholder to one additional\nshare of the merged company, the companies said.\n Each Goldsil shareholder will receive one share and\none-half warrant. The warrant will be for a term of two years.\nPayment of 3.10 dlrs and delivery of two warrants will entitle\nthe shareholder to one additional share of the merged company.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:45:06.93",
"topics": [
"acq"
],
"places": [
"canada"
],
"id": "14177"
},
{
"title": "FED SETS TWO-DAY SYSTEM REPURCHASES",
"body": "The Federal Reserve entered the\ngovernment securities market to arrange two-day repurchase\nagreements for system account, a spokeswoman for the New York\nFed said.\n Fed funds were trading at 6-1/8 pct at the time of the\ndirect injection of temporary reserves, dealers said.\n Most economists had expected a less aggressive injection of\nreserves via customer repurchase agreements.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:46:24.49",
"topics": [
"money-fx"
],
"places": [
"usa"
],
"id": "14178"
},
{
"date": " 7-APR-1987 11:47:15.23",
"id": "14179"
},
{
"title": "COLONIAL BANCGROUP INC <CLBGA> 1ST QTR NET",
"body": "Shr 25 cts vs 55 cts\n Net 1.3 mln vs 2,460,000\n NOTE: 1987 1st qtr includes loan write-offs at banking\nsubsidiary, The Colonial Bank of Mobile, due to loan losses, of\n1.3 mln dlrs or 25 cts a share.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:47:36.63",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14180"
},
{
"date": " 7-APR-1987 11:47:56.34",
"id": "14181"
},
{
"title": " Dresdner to propose 1986 dividend 10 marks vs same, one-for-18 bonus share issue\n",
"date": " 7-APR-1987 11:48:03.35",
"topics": [
"earn"
],
"id": "14182"
},
{
"title": "LONDON OILS/SEEDS CLOSE QUIETLY MIXED",
"body": "Oils and oilseeds traded quietly this\nafternoon and price movements were marginally mixed.\n Dutch soyoil showed small gains with support coming from\nearly mark-ups in Chicago soyoil futures.\n Firm Argentine markets maintained levels in the\nsunflowerseed oil section but palm oil tended to move off early\nhighs due to lack of buying support and the reported rejection\nof rbd oil offers by Pakistan at its tender today.\n Demand for coconut oil and palm kernel oil faded and here\nagain early gains were pared.\n Dutch soyoil traded at 65.50 guilders for May, rising to 71\nfor Nov/Jan deliveries ex-mill while any origin sunflowerseed\noil sold at 346.50 dlrs for May/Jul and 357.50 for Aug/Oct call\nex-tank Rotterdam.\n No fresh trade was reported for coconut oil or palm kernel\noil and palm oil also met an idle afternoon.\n Among oilseeds, April deliveries of U.K. Rapeseed traded to\nBoston, U.K. East coast, at 297 stg per tonne.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:48:24.77",
"id": "14183"
},
{
"title": "WALL STREET STOCKS/AUTOMAKERS",
"body": "Shares of Detroit automakers rose\nsharply in active trading as investors scrambled to accumulate\nthe stocks in anticipation of postive announcements by Ford\nMotor Co <F> and General Motors Corp <GM> at meetings to be\nheld at the end of the week, traders said.\n General Motors gained two points to 83-1/2 and Ford one to\n91-1/8. Chrysler Corp <C>, which is not expected to make any\nmajor announcements this week, rose 1/4 to 58-1/2.\n \"There is a little mystery coming at the end of the week\nfor the automakers,\" one trader said, \"and in a bull market,\ninvestors don't mind the mystery so much.\"\n Yesterday, GM's stock climbed 1-3/4 points on expectations\nthat the company might disclose some bullish news at a meeting\nbefore analysts on April 9-10. A GM spokesman had no comment on\nthe meeting.\n GM chairman Roger Smith is expected to attend the meeting,\nalong with GM president James McDonald and other senior GM\nexecutives.\n \"The stock could be moving up just on the proximity of the\nmeeting, thinking GM will say something positive,\" analyst\nPhilip Fricke of Goldman Sachs said.\n Though he maintains a buy recommendation on GM, Fricke said\nhe cut 1987 earnings estimates for the company by 50 cts a\nshare to 7.30 dlrs a share because of the costs of incentive\nprograms. The company earned 8.21 dlrs a share in 1986.\n Monday, Ford closed 2-5/8 points higher as rumors\ncirculated that the company would announce a higher dividend\nand a three-for-two stock split at it Thursday board meeting.\n A Ford spokesman said, \"it is likely they will have a\ndividend announcement.\" He said it is a board policy to make a\ndividend announcement at the first board meeting of the\nquarter, but he would not comment on any plans for a change in\nthe dividend or a stock split.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:49:27.89",
"places": [
"usa"
],
"id": "14184"
},
{
"date": " 7-APR-1987 11:49:32.99",
"id": "14185"
},
{
"date": " 7-APR-1987 11:50:14.31",
"id": "14186"
},
{
"title": "ST PAUL CATTLE UP 1.00/1.50 DLR - USDA",
"body": "slaughter cattle rose 1.00 to 1.50 dlr\nin active trade, the usda said.\n steers - choice 2-4 1050-1325 lbs 64.50-66.30.\n heifers - choice 2-4 975-1200 lbs 63.00-65.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:50:25.79",
"id": "14187"
},
{
"title": "ST PAUL HOGS UP 1.00/2.00 DLRS - USDA",
"body": "barrow and gilt prices rose 1.00 to 2.00\ndlrs in very active trade amid broad demand, the usda said. top\n52.50 dlrs per cwt.\n us 1-3 220-260 lbs 51.00-52.50.\n sows - up 0.50/1.50 dlr. us 1-3 500-650 lbs 46.50-47.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:50:54.37",
"id": "14188"
},
{
"title": "EUROPEAN SOY/FEED AFTERNOON GENERALLY ACTIVE",
"body": "The cif Rotterdam meals and feeds\nmarket was generally active this afternoon after a quiet\nmorning as consumers stepped in to cover short positions, the\ndollar remained steady and Chicago rallied, market sources\nsaid.\n Business was concentrated mainly in the afloat and nearby\npositions, with particular emphasis on South American soymeal\npellets, although other products too traded actively.\n Brazilian soymeal pellets traded afloat at up to 202.50\ndlrs a tonne cif Ghent, with Mch at 191 cif Ghent, Apl at\n185.50 dlrs, with May/Sep and Jne both at 181 dlrs cif Ghent.\n Argentine soymeal pellets traded afloat at up to 197 dlrs a\ntonne, with May/Sep at up to 176 dlrs a tonne cif Ghent.\n US high protein soymeal traded afloat at 209 dlrs a tonne.\n Cornglutenfeed pellets traded afloat at up to 138 dlrs a\ntonne, with Mch at 135 dlrs, Apl at 130 dlrs, and May/Aug at\ndown to 127.50 dlrs.\n Thai tapioca hard pellets traded afloat at 27.50 Marks per\n100 kilos fob, with May/Jne at 26.75, Oct/Dec at 27, Jan/Jne\n1988 at 25 Marks, and Jan/Dec 1988 at 25.25 Marks.\n Sunmeal pellets traded afloat at 121 dlrs a tonne, with Apl\nat up to 115 dlrs.\n Citruspulp pellets traded afloat at up to 130 dlrs a tonne,\nwhile linseed expellers traded afloat at up to 160 dlrs.\n Palm expellers changed hands afloat at up to 118.50 dlrs a\ntonne, with Mch/Apl at 110 dlrs.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:51:14.11",
"id": "14189"
},
{
"title": "CASH SOYMEAL BASIS STEADY IN INCREASED TRADE",
"body": "Midwest cash soybean meal basis values\nwere steady, with more active trade beginning to emerge, soy\nproduct dealers said.\n With crush margins at unfavorable levels, processors in\nIndiana, South Carolina and Tennessee are cutting back\noperations and preparing to take downtime, they said.\n Demand from the eastern market was steady following the\nincrease that emerged after the weekend snowstorm, while the\nexport market appeared to be cooling off, they said.\n Soyoil trade continued in the doldrums, with offers\nunchanged, but could turn active if crushers continue taking\nsubstantial downtime, dealers said.\n Spot Illinois rail 44 pct protein soybean meal was offered\nat 4.00 dlrs over May, with Decatur unrestricted at 6.00 over,\nand eastern delivery 5.00 over, all unchanged.\n Prompt Illinois rail 48 pct protein soymeal was offered at\n20.00 over, unchanged, with Decatur unrestricted at 21.00 over,\nup 1.00. Eastern delivery was quoted at 18.00 over, unchanged.\n Truck-delivered soymeal also held steady, with Danville,\nIllinois quoted at 8.00 and 24.00 dlrs over for 44 and 48 pct\nrespectively.\n Spot central Illinois soybean oil was quoted at 0.65 to\n0.70 cent per lb under May nominal, unchanged.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:52:11.97",
"id": "14190"
},
{
"date": " 7-APR-1987 11:52:17.54",
"id": "14191"
},
{
"title": "MIDWEST GRAIN FUTURES 11:50 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 284 1/4 UP 3/4\n JUL7 280 3/4 UNCH\n SEP7 276 1/2 UP 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 11:52:25.66",
"id": "14192"
},
{
"date": " 7-APR-1987 11:52:35.69",
"id": "14193"
},
{
"date": " 7-APR-1987 11:52:45.84",
"id": "14194"
},
{
"title": "BROWNING-FERRIS <BFI> UNIT SEEKS WASTE PERMIT",
"body": "Browning-Ferris Industries Inc said its\nsubsidiary, CECOS International Inc, said it intends to seek a\npermit to install an incinerator for burning hazardous wastes\nat a site in southwest Jefferson County in Kentucky.\n In a related matter, CECOS said it will acquire <BT Energy>\nand its assets contingent on CECOS receiving the permit, it\nsaid.\n BT Energy already has a permit to treat and store\nindustrial and chemical wastes and has been providing services\nto the Jefferson County area for 13 years, CECOS said.\n The application will be submitted in July and will require\nabout one year for reviews and hearings before construction of\nthe plant could start, CECOS said.\n The cost of the project is estimated to be approximately 30\nmln dlrs, CECOS said.\n Reuter\n\u0003",
"date": " 7-APR-1987 11:52:53.69",
"places": [
"usa"
],
"id": "14195"
},
{
"title": "LONDON SOYMEAL FUTURES CLOSE QUIETLY MIXED",
"body": "Soymeal futures closed 0.15 stg per tonne\nfirmer to 0.25 easier in a light turnover of 85 lots.\n Traders said firm sterling against the dollar depressed\nvalues intially but the market steadied in the late afternoon\nwith early gains in Chicago meal futures influencing sentiment.\n Light dealings mainly involved trade selling and\nspeculative buying.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:53:02.89",
"id": "14196"
},
{
"title": "WHITE HOUSE SAYS A.I.D. CHIEF PETER MCPHERSON TO BE DEPUTY TREASURY SECRETARY\n",
"date": " 7-APR-1987 11:54:16.91",
"id": "14197"
},
{
"date": " 7-APR-1987 11:54:20.44",
"id": "14198"
},
{
"title": "JAPAN CUTS CHIP SUPPLY, MAY PRODUCE SHORTAGE",
"body": "Japan is attempting to cut back\nsemiconductor production to forstall the 300 mln dlrs in U.S.\ntariffs on Japanese electronic goods set to take effect April\n17, industry analysts said.\n The move is likely to create a sharp price rise and a\npossible shortage of the key computer components in the next\nfew weeks, the analysts said.\n \"Prices have gone up for memory components, the mainstay of\nthe Japanese semiconductor industry,\" analyst Drew Peck of\nDonaldson Lufkin and Jenrette said.\n But analysts said the price rises have been slight so far,\nand some questioned whether Japan would be successful in\nforcing Japanese companies to cut production in the long run.\n Others, however, were more optimistic, saying evidence was\nalready in hand that Japan has cut back prodution and halted\nsales to the grey market, the third country brokers that sell\nchips at below production costs.\n \"We've seen the grey market begin to dry up for D-RAMS, and\nit has virtually dried up for EPROMS,\" said Merrill Lynch\nanalyst Thomas Kurlack of the two key memory chips used in\ncomputers.\n \"Prices are inching up and lead times on deliveries are\nstretching,\" Kurlack added.\n Industry analysts said Japan's Ministry of International\nTrade and Industry, or MITI, had requested the cut backs in\nproduction to meet the terms of last year's semiconductor\naccord with the U.S.\n The Reagan adminsitration recently proposed tariffs on\nJapanese electronic goods, alleging that Japan had failed to\nlive up to the accord and continued to dump the computer\ncomponents in the U.S. market.\n But some analysts said Japan's attempt to mollify the U.S.\nwas a double edged sword, and might be read at a subtle form of\ntrade retaliation for the tariffs proposed by the U.S.\n As production in Japan is cut, these analysts argue, prices\nwill rise in the U.S. and few American semiconductor\nmanufactures will be able to take up the slack since most long\nago exited the market for memory chips. U.S. computer makers\nthat use the chips in their machines will then be pressured.\n \"The Japanese are looking for ways to reduce trade\npressures from Washington, but at the same time they're\ndemonstating their muscle,\" analyst Peck said.\n The cut backs in Japanese production are expected to\nbenefit U.S. chip makers.\n \"I think this could be a very important factor for U.S.\nsemiconductor manufacturers,\" industry analyst Elliot Levine of\nLadenburg Thalmann Co said.\n But analyst Peck said, \"it will take a few weeks to see\nwhether Japan has genuinely cut production.\"\n He said Japanese manufactures were likely to view MITI's\nrequest unfavorably because chip capacity was still high and\nproduction cut backs would lead to significant write-offs in\nplant and equipment.\n\n Reuter\n\u0003",
"date": " 7-APR-1987 11:54:31.63",
"topics": [
"trade"
],
"places": [
"usa",
"japan"
],
"id": "14199"
},
{
"title": "SENIOR TREASURY AIDE SAYS PARIS PACT TO BE REVIEWED, U.S. THINKS IT SUCCESSFUL\n",
"date": " 7-APR-1987 11:54:56.33",
"id": "14200"
},
{
"title": "INVESTORS RAISE STAKE IN PUROLATOR <PCC>",
"body": "Two New York management investment\nfirms told the Securities and Exchange Commission they had\nincreased their holdings in Purolator Courier Corp to 7.2 pct,\nfrom 6.2 pct.\n Mutual Shares Corp and Mutual Qualified Income Fund Inc\nsaid they were weighing offers to buy Purolator shares from PC\nAcquisition Inc, a unit of E.F. Hutton LBO Inc, for 35 dlrs a\nshare, and from EAF Acquisitions Corp Inc, a unit of Emery Air\nFreight Corp. at 40 dlrs\n They told the commission they had bought their new\nPurolator shares March 25-27 for 34.875-35.250 dlrs each.\n reuter\n\u0003",
"date": " 7-APR-1987 11:55:41.99",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14201"
},
{
"title": "SENIOR U.S. AIDE SAYS NO CONSENSUS YET ON PARIS CLUB RELIEF FOR POOREST NATIONS\n",
"date": " 7-APR-1987 11:55:51.88",
"id": "14202"
},
{
"date": " 7-APR-1987 11:56:33.62",
"id": "14203"
},
{
"title": "LONDON COCOA GRADINGS/TENDERS - APR 7",
"body": "None posted, Total todate 146.\n\u0003",
"date": " 7-APR-1987 11:56:37.56",
"id": "14204"
},
{
"date": " 7-APR-1987 11:56:53.67",
"id": "14205"
},
{
"title": "LONDON COFFEE GRADINGS/TENDERS AFTERNOON - APR 7",
"body": "20 Sierra Leone type 2 and three Zaire type 3\noriginals were posted. Total todate 43.\n\u0003",
"date": " 7-APR-1987 11:57:49.53",
"id": "14206"
},
{
"title": "DUTCH MONEY MARKET DEBT RISES IN WEEK",
"body": "Loans and advances from the Dutch\nCentral Bank to the commercial banks rose by 1.2 billion\nguilders to 10.7 billion in the week up to and including April\n6, the Bank's weekly return showed.\n Paper discounted with the Bank also rose, by 477 mln\nguilders to 916 mln.\n These rises were balanced by a 1.6 billion guilders rise in\nthe Treasury's account at the Bank, made up mainly of\nrepayments on housing loans by local authorities. The\nTreasury's account stood at 8.1 billion guilders, the weekly\nreturn showed.\n The Bank's gold and currency reserves rose by 484 mln to\n56.89 billion guilders, while the value of non-gold holdings\nrose by 140 mln guilders, analysts said.\n They added that the rise in the reserves was merely the\nresult of commercial currency transactions by the Bank.\n Call money and period tariffs were only fractionally\nchanged this week and were seen sustaining their stable levels\nsince no dramatic changes in the money market debt, currently\naround 10.25 billion guilders, are expected.\n Today call money traded between 5-3/8 to 5-1/2 pct and\nperiod tariffs all between 5-5/16 to 5-7/16 pct.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:58:46.40",
"topics": [
"money-fx",
"reserves"
],
"places": [
"netherlands"
],
"id": "14207"
},
{
"title": "INTERNATIONAL BOND HIGHLIGHTS - APRIL 7",
"body": "Kansai Electric Power Co Inc is issuing a 60\nbillion yen eurobond due April 30, 1994 paying a 4-5/8 pct\ncoupon and priced at 101 pct, lead manager Nomura International\nLtd said.\n LONDON - Sharp Corp is issuing a 200 mln dlr equity warrant\neurobond due April 27, 1992 paying two pct and priced at par,\nlead manager Nomura International Ltd said.\n LONDON - Brierley Investments Overseas NV is issuing a 100\nmln dlr eurobond due April 30, 1992 paying 8-1/4 pct and priced\nat par, lead manager Banque Paribas Capital Markets said.\n LONDON - Showa Aluminium Corp is issuing a 100 mln dlr\nequity warrant eurobond due April 23, 1992 paying an indicated\ncoupon of 2-1/8 pct and priced at par, lead manager Nomura\nInternational Ltd said.\n LONDON - Nippon Shokubai Kagaku Kogyo is issuing an 80 mln\ndlr equity warrant eurobond due April 30, 1992 paying an\nindicated coupon of 2-1/8 pct and priced at par, lead manager\nNomura International Ltd said.\n PARIS - Caisse Centrale des Autoroutes is issuing a 120 mln\nECU 7-3/8 pct eurobond due May 15, 1995 at 101-3/4 pct, lead\nmanager Credit Lyonnais said.\n LONDON - Postipankki is issuing a 20 billion yen eurobond\ndue May 11, 1992 paying 4-1/2 pct and priced at 102-1/8 pct,\nlead manager Nikko Securities Co (Europe) Ltd said.\n LONDON - Yamaichi International (Europe) Ltd said it is\neffectively repackaging 137 mln dlrs of the U.K's four billion\ndlr floating rate note issued last year into a five year fixed\nrate yen note with a five pct coupon.\n LONDON - A unit of Banca Nazionale del Lavoro is issuing a\n15 billion yen eurobond due May 12, 1992 paying 4-1/2 pct and\npriced at 101-1/2 pct, market sources said. The joint\nbookrunners are Tokai International and Daiwa Europe Ltd.\n REUTER\n\u0003",
"date": " 7-APR-1987 11:59:40.25",
"id": "14208"
},
{
"date": " 7-APR-1987 11:59:52.08",
"id": "14209"
},
{
"title": "SENATE FARM LEADER URGES HELP FOR RURAL AMERICA",
"body": "The U.S. Senate Agriculture Committee\nchairman said he wanted to develop a plan to help rural\nAmerica, which he said has been neglected by the Reagan\nadministration.\n \"I hope to develop a sound and comprehensive plan to\nrevitalize rural America.... We need a renewed national\ncommitment to rural America and we will have one,\" Sen. Patrick\nLeahy (D-Vt.) told a Senate Agriculture Committee hearing.\n Leahy faulted the Reagan administration for having no\nstrategy to revitalize rural America.\n Leahy added that some rural countries were losing\npopulation and this was contributing to the economic decline.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:00:03.50",
"places": [
"usa"
],
"id": "14210"
},
{
"title": "KUWAIT ASKS TO USE FOREIGN FLAG TANKERS, U.S SAYS",
"body": "Kuwait has asked at least four\ncountries, including the United States, Soviet Union, Britain\nand China, for temporary use of their flags or tankers to\nprotect Kuwaiti oil shipments in the troubled Persian Gulf,\nReagan Administration officials said.\n The officials confirmed a New York Times report that Kuwait\nwants to transfer some of its oil tankers to U.S. or Soviet\nregistration in hopes Iran would be reluctant to launch new\n\"Silkworm\" missiles at superpower flags.\n The United States has vowed to keep the gulf open to\ninternational oil traffic and has warned Tehran against using\nthe Chinese-made missiles recently installed in Iran near the\nmouth of the gulf.\n \"They (the Kuwaitis) have also asked Britain, China and\npossibly some other European countries to lease tankers to\ncarry their oil,\" one of the administration officials, who asked\nnot to be identified, told Reuters.\n The United States is considering the request to temporarily\ntransfer Kuwaiti ships to American registration, but such a\nmove could create insurance and other problems, the officials\nsaid.\n U.S. defense officials told Reuters yesterday that Kuwait\nhad decided for at least the time being not to accept a U.S.\noffer to use American warships to escort its tankers in the\ngulf, where both Iran and Iraq have been attacking shipping.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:00:11.67",
"topics": [
"ship",
"crude"
],
"places": [
"usa",
"kuwait",
"iran",
"iraq"
],
"id": "14211"
},
{
"title": "U.S. GRAIN CERTS SAVE 50-100 MLN DLRS - AMSTUTZ",
"body": "The use of generic commodity\ncertificates, or \"certs,\" for fiscal years 1986-88 will save\nthe government 50 to 100 mln dlrs, Department of Agriculture\nUndersecretary Daniel Amstutz said.\n Speaking at a House agriculture subcommittee hearing on the\nuse of the certificates, Amstutz said that the issuance of 8.5\nbillion dlrs of certificates during fiscal years 1986-88 could\nresult in government outlays of up to 400 mln dlrs.\n However, the use of certificates preclude the need for 450\nto 500 mln dlrs in storage and handling costs, resulting in net\nsavings for the government of 50-100 mln dlrs, he said.\n Without the use of certificates, Amstutz said nearly the\nentire 1985 crop which had been put under loan would have been\nforfeited to the Commodity Credit Corporation, CCC.\n In addition, 260 mln bushels of grain that have been\nredeemed from CCC inventory through certificate exchanges would\nhave remained in the goverment inventory, he said.\n When asked to comment on a recent study by the General\nAccounting Office that concluded certificates result in a net\ncost to the government, Amstutz said, \"GAO underestimated the\nbenefits and overstated the costs\" of the certificate program.\n Amstutz said while certificates encourage more loan\nentries, they also encourage heavier loan redemptions rather\nthan forfeitures.\n GAO underestimated this net loan activity, Amstutz said.\n \"There is no question in the mind of the Department of\nAgriculture that these certificates have been very useful,\"\nAmstutz said.\n Immediate benefits of certificates include greater market\nliquidity, improved market price competitiveness, higher farm\nincome, and improved debt situation and decreased carrying\ncosts, he said.\n Certificates are an integral part of USDA's long-range\nmarket-oriented farm policy, he said.\n Amstutz told subcommittee Chairman Rep. Dan Glickman,\nD-Kans., that USDA is in the process of preparing an official\nresponse to the GAO study on certificates and will submit it to\nthe subcommittee when completed.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:00:41.41",
"topics": [
"grain"
],
"places": [
"usa"
],
"id": "14212"
},
{
"title": "GM <GM> SHIFTS LATIN AMERICAN, ASIA OFFICERS",
"body": "General Motors Corp said it set up a new\noffice of Latin American operations as part of the company's\ncontinuing international restructuring.\n The automaker named James F. Waters Jr to head the\noperations. Waters, who will work out of the United States, is\nGeneral Motors' vice president and group executive in charge of\nthe Overseas Group.\n In Asia, Barton Brown, General Motors' vice president in\ncharge of Asian, African and International Export operations,\nwill assume responsibility for Australian operations.\n General Motors also shifted some officers at its GM do\nBrasil and GM de Mexico operations.\n In Brazil, Clifford J. Vaughn, vice president and managing\ndirector of GM do Brasil, will return to the United States as\nvice president of manufacturing at the Chevrolet-Pontiac-Canada\nGroup.\n Vaughn will be replaced as managing director of GM do\nBrasil by Robert B. Stone, vice president and managing director\nof GM de Mexico. Stone will remain a vice president.\n Richard C Nerod, executive director of marketing and sales\nof GM do Brasil, will become managing director, GM de Mexico.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:01:34.18",
"places": [
"usa"
],
"id": "14213"
},
{
"title": "VOLCKER SAYS FED POLICY NOT RESPONSIBLE FOR PRIME RATE RISE\n",
"date": " 7-APR-1987 12:01:40.77",
"topics": [
"interest"
],
"id": "14214"
},
{
"date": " 7-APR-1987 12:01:58.78",
"id": "14215"
},
{
"date": " 7-APR-1987 12:02:22.99",
"id": "14216"
},
{
"title": "LONDON EURODOLLAR DEPOSITS CLOSE QUIETLY STEADY",
"body": "Eurodollar deposit rates closed little\nchanged around the levels established at midmorning. Rates at\nthe longer end of the market showed 1/16 point gains on a weak\nopening from the dollar, dealers said.\n Trading remained very quiet throughout the day with\noperators sidelined in the absence of major U.S. Economic data\nand ahead of this week's Group of Seven meeting in Washington.\nThe G-7 finance ministers are due to discuss their February\npact on currency stability and this could well have an impact.\n One to five month eurodollars were steady with three months\nclosing at 6-9/16 7/16 pct.\n Dealers noted that Federal Reserve Board Chairman Paul\nVolcker said a restrictive monetary policy would hit investment\nand that a better course would be to restrain spending. Volcker\nwas testifying to the Senate Banking Committee.\n Volcker also said a further fall in the dollar would be\ncounterproductive and that the currency's performance could be\na factor in determining U.S. Monetary policy.\n Short dated eurodollars were steady with overnight to\nspot/next quoted at a uniform 6-1/4 1/8 pct. The Fed added\ntemporary reserves via two-day system repurchase agreements\nwith Fed funds trading at 6-1/8 pct.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:02:42.72",
"id": "14217"
},
{
"date": " 7-APR-1987 12:02:59.18",
"id": "14218"
},
{
"date": " 7-APR-1987 12:03:04.54",
"id": "14219"
},
{
"title": "U.S. URGES SURPLUS NATIONS TO BOOST GROWTH",
"body": "Leading industrial nations will be\nreviewing the Paris agreement to stabilize exchange rates,\nfoster increased worldwide growth and reduce trade imbalances\nbut the U.S. thinks the accord has been successful so far, a\nsenior U.S. Treasury official said.\n \"The Paris accord will be reviewed at this meeting. It has\nbeen successful and continues to be succesfull,\" a senior U.S.\nTreasury official told reporters.\n In a briefing ahead of this week's semiannual IMF and World\nBank meetings, he also said the U.S. was looking to West\nGermany and Japan to bolster their economic growth.\n The official said both surplus countries, like West Germany\nand Japan, and deficit countries, like the U.S., agreed to play\na role in bringing about more balanced economic growth.\n He reaffirmed the U.S. would press ahead with efforts to\nreduce its budget deficit, resist protectionism and boost U.S.\ncompetitiveness.\n The official also said that he expected trade issues, like\nthe dispute between the U.S. and Japan over microchips, to be\nincluded in the discussions.\n The official made no direct comment on the content or\nschedule of forthcoming Group of Five and Group of Seven\ndiscussions. He said that industrial countries are concerned\nthat the large external imbalances remain a threat to the\ninternational monetary system.\n He added that the meetings will also provide an opportunity\nto discuss economic policy coordination efforts.\n The official said indicators would be used to measure\npolicy objectives of industrial countries and their economic\nprojections.\n They would also be used to assess progress of policy goals.\n Asked whether the U.S. was proposing a new initiative\nregarding the indicators, the official said the issue would be\nreported to the Venice Summit in June. Monetary sources said\nthe U.S. proposal envisages using the indicators to make policy\ncoordination agreements, like the Paris Accord, more binding.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:03:16.74",
"topics": [
"trade"
],
"places": [
"usa",
"japan"
],
"id": "14220"
},
{
"date": " 7-APR-1987 12:03:29.02",
"id": "14221"
},
{
"date": " 7-APR-1987 12:03:41.94",
"id": "14222"
},
{
"date": " 7-APR-1987 12:03:48.96",
"id": "14223"
},
{
"date": " 7-APR-1987 12:04:05.76",
"id": "14224"
},
{
"date": " 7-APR-1987 12:04:19.87",
"id": "14225"
},
{
"date": " 7-APR-1987 12:04:25.63",
"id": "14226"
},
{
"date": " 7-APR-1987 12:04:34.95",
"id": "14227"
},
{
"date": " 7-APR-1987 12:04:50.38",
"id": "14228"
},
{
"date": " 7-APR-1987 12:04:56.65",
"id": "14229"
},
{
"title": "REUTER COMMODITIES NEWS HIGHLIGHTS 1600 GMT - APRIL 7",
"body": "Malaysian and Indonesian palm oil production is\nlikely to drop sharply this year because of lower yields, the\nHamburg-based newsletter Oil World said.(XYGP 1330)\n NEW YORK - Comex silver futures soared 15 to 18 cents on\nopening and then retreated slightly as followthrough buying\nslowed. May was up 12.5 cents at 6.705 dlrs from a high of 6.75\ndlrs. July was up 13.1 at 6.785 dlrs from 6.84 dlrs. (MMSU\n1404) In LONDON, LME silver ended the morning with three months\nlarge trading at a new five month high of 420 pence per troy\nounce, versus yesterday's kerb close 415/418 pence.(MMSL 1327)\n LONDON - Cargill U.K. Ltd said its oilseed processing plant\nin Seaforth, northwest England, will resume operations tomorrow\nmorning following settlement of a labour dispute which has\nparalysed production there since December 19. (XYHY 1405)\n SAO PAULO - A Brazilian seamen's strike, which began on\nFebruary 27 and has been tapering off for weeks, has now ended,\na seamen's spokesman said.(XYGH 1305)\n WASHINGTON - Kuwait has asked at least four countries,\nincluding the U.S., Soviet Union, Britain and China, for\ntemporary use of their flags or tankers to protect Kuwaiti oil\nshipments in the Persian Gulf, U.S. Officials said. (XYJV 1535)\n BRUSSELS - The European Commission has not taken a decision\non applications from the British government for the release of\n200,000 tonnes of intervention feed wheat onto the British\nmarket in May and June, Commission sources said. (XYJN 1519)\n CHICAGO - CBT wheat futures opened firmer to again set new\ncontract highs in new crop, then back off those highs to hold\ngains of 1-1/4 cents per bushel in May, with new crop July\nunchanged in light early dealings.(WHCB)\n MADRID - Spain is to sign an barley order with Saudi Arabia\nfor April/May delivery, trade sources said. They gave no\nfurther details, but said it would be a \"major\" order.(XYGX 1333)\n LONDON - Trading volume on the London Commodity Exchange\nheld steady overall in March, according to figures issued by\nthe International Commodities Clearing House. Total volume was\n238,287 lots against 235,665 in March 1986 and 233,403 in\nFebruary 1987. (XYKM 1559)\n REUTER\n\u0003",
"date": " 7-APR-1987 12:05:44.68",
"id": "14230"
},
{
"date": " 7-APR-1987 12:05:52.07",
"id": "14231"
},
{
"date": " 7-APR-1987 12:06:08.04",
"id": "14232"
},
{
"date": " 7-APR-1987 12:06:20.77",
"id": "14233"
},
{
"date": " 7-APR-1987 12:06:24.42",
"id": "14234"
},
{
"date": " 7-APR-1987 12:06:33.84",
"id": "14235"
},
{
"date": " 7-APR-1987 12:07:02.56",
"id": "14236"
},
{
"date": " 7-APR-1987 12:07:09.72",
"id": "14237"
},
{
"date": " 7-APR-1987 12:07:15.52",
"id": "14238"
},
{
"date": " 7-APR-1987 12:07:23.72",
"id": "14239"
},
{
"date": " 7-APR-1987 12:07:28.71",
"id": "14240"
},
{
"title": "MIDWEST GRAIN FUTURES 12:00 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 1/4 UP 1 3/4\n JUL7 280 3/4 UNCH\n SEP7 276 1/2 UP 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 12:07:35.57",
"id": "14241"
},
{
"title": "CBT CORN SPREADS",
"body": "1100 hrs cdt\n MONTHS LAST DIFFERENCE\n Jul/May 3-3/4 over 3-1/2 over\n Dec/Jul 13-1/2 over 13-1/2 over\n Jul/Sep 4-3/4 under 5 under\n Sep/May no quote 8-3/4 over\n Sep/Dec no quote 8-1/4 under\n Dec/Mar8 no quote no quote \n May/Dec 17 under 17 under\n Reuter\n\u0003",
"date": " 7-APR-1987 12:07:42.00",
"id": "14242"
},
{
"title": "MIDWEST GRAIN FUTURES 12:01 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 UP 1 1/2\n JUL7 280 3/4 UNCH\n SEP7 276 1/2 UP 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 12:07:48.88",
"id": "14243"
},
{
"date": " 7-APR-1987 12:07:52.03",
"id": "14244"
},
{
"date": " 7-APR-1987 12:08:03.27",
"id": "14245"
},
{
"title": "CBT SOYBEAN SPREADS",
"body": "1100 hrs cdt\n MONTHS LAST DIFFERENCE\n May/Jul 1-1/4 under 1-1/2 under\n Jul/Aug even even \n Sep/Nov 2 under 2-1/4 under\n May/Nov 2-1/4 over 1 over\n Jul/Nov 2 over 2 over\n Nov/Jan 6-3/4 under 7 under\n Aug/Sep no quote 4-1/2 over\n Mar/May8 no quote no quote \n Jan/Mar8 no quote no quote \n Reuter\n\u0003",
"date": " 7-APR-1987 12:08:09.71",
"id": "14246"
},
{
"date": " 7-APR-1987 12:08:41.33",
"id": "14247"
},
{
"title": "CBT SOYBEAN OIL SPREADS",
"body": "1100 hrs cdt\n MONTHS LAST DIFFERENCE\n May/Jul 0.34 under 0.35 under\n Jul/Aug 0.16 under 0.17 under\n Jul/Dec 0.78 under 0.80 under\n Aug/Sep 0.16 under 0.17 under\n May/Aug 0.51 under 0.52 under\n May/Dec no quote 1.15 under\n Dec/Jan no quote 0.05 under\n Reuter\n\u0003",
"date": " 7-APR-1987 12:08:48.12",
"id": "14248"
},
{
"date": " 7-APR-1987 12:08:57.98",
"id": "14249"
},
{
"title": "LONDON GOLD CLOSES OFF LOWS",
"body": "Gold bullion ended the day easier but off\nlows after strengthening during late afternoon trading in\nsympathy with firmer values on Comex, dealers said.\n The metal closed at 420.00/420.50 dlrs an ounce, up on the\nafternoon fix of 418.50, but still below last night's close of\n421.50/422.\n It eased during the morning as dealers traded on the\ngold/silver ratio, buying cheaper silver and selling gold.\nTrading was quiet with interest in silver far outweighing gold.\n Gold was at its high for the day at the opening and slipped\nto its low at the afternoon fix.\n Platinum ended the day at 565.50/566.50 dlrs an ounce\nlittle changed from the afternoon fix of 566.35 or the morning\nsetting of 565.75, dealers said.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:09:06.03",
"id": "14250"
},
{
"date": " 7-APR-1987 12:09:08.67",
"id": "14251"
},
{
"title": "CBT CORN FUTURES HOLD GAINS AT MIDSESSION",
"body": "CBT corn futures held gains of two to\n2-3/4 cents per bushel in moderately light midsession trade.\n Yesterday's sharp jump in the weekly corn export figure to\nabout three times last year's weekly inspections, plus the\noutlook for a continued active export pace due to the decline\nin the U.S. dollar this year, supported nearbys, traders said.\n Diminished PIK-and-roll activity, compared with the active\npace seen last week, added to the more positive tone.\n Most dealers expect the contract lows in corn futures to\nhold, with some looking for the improving chart picture to\nsupport a further advance.\n A local house, Cargill, the Illinois Co-op, Refco and ADM\nwere the featured buyers of old crop May, with Drexel/Burnham a\nsteady buyer in new crop December, pit brokers said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:09:20.13",
"id": "14252"
},
{
"date": " 7-APR-1987 12:09:25.54",
"id": "14253"
},
{
"date": " 7-APR-1987 12:09:27.35",
"id": "14254"
},
{
"title": "CBT SOYBEAN MEAL SPREADS",
"body": "1100 hrs cdt\n MONTHS LAST DIFFERENCE\n May/Jul even even \n Jul/Aug even 0.10 over\n Jul/Dec no quote 1.80 under\n Oct/Dec no quote 1.10 under\n Dec/Jan no quote 0.70 under\n Oct/Jan no quote 1.80 under\n Reuter\n\u0003",
"date": " 7-APR-1987 12:09:32.24",
"id": "14255"
},
{
"date": " 7-APR-1987 12:09:36.12",
"id": "14256"
},
{
"date": " 7-APR-1987 12:09:39.11",
"id": "14257"
},
{
"title": "CASH PORK CALLED MIXED, BEEF HIGHER",
"body": "Cash bellies are called steady and loins\nfirmer at noon on moderate intrest. However, hams are called\nsharply lower as Easter business came to a close. Cash beef is\nhigher on farily active demand, according to private sources.\n ALL PORK PRICES - FOB MIDWEST BASIS.\n LOINS BELLIES\n 14-18 98-100 12-14 60 \n 18-22 96 14-16 60 \n HAMS 16-18 57 \n 14-17 unq CARCASS BEEF\n 17-20 73 600/700 98 \n Reuter\n\u0003",
"date": " 7-APR-1987 12:09:49.22",
"id": "14258"
},
{
"date": " 7-APR-1987 12:10:01.41",
"id": "14259"
},
{
"date": " 7-APR-1987 12:10:19.43",
"id": "14260"
},
{
"title": "GANDALF <GANDF>, BRITISH TELECOM IN AGREEMENT",
"body": "Gandalf Technologies Inc said it signed a\ntwo-year, eight mln dlr agreement with British Telecom to\ndistribute British Telecom's Mezza Voicestation System in\nCanada and the United States.\n Gandalf said it will market the system as the Gandalf\nVoicestation System.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:10:32.37",
"places": [
"usa",
"uk"
],
"id": "14261"
},
{
"title": "MANHATTAN NATIONAL <MLC> NAMES NEW CHAIRMAN",
"body": "The board of directors of Manhattan\nNational Corp said it has named Charles Hinckley chairman and\nchief executive officer of the life insurance holding company,\nreplacing Wilmot Wheeler Jr, who returns to his former position\nof vice chairman.\n Hinckley is also president and chief executive officer of\n<Union Central Life Insurance Co>, a mutual insurer that on\nMarch 31 acquired 3.6 mln shares of Manhattan National's common\nstock for 43.2 mln dlrs, or 12 dlrs a share, a spokesman for\nManhattan National said.\n The spokesman said the purchase, coupled with the 900,096\nManhattan National shares Union Central already owned, brought\nUnion Central's Manhattan National stake up to 52.2 pct of the\noutstanding common shares.\n Manhattan National said it also named five others from\nUnion Central to its board of directors.\n The spokesman said Union Central now holds seven of\nManhattan National's thirteen seats on the board of directors.\n The company also said it named Paul Aniskovich Jr president\nand chief executive officer of its Manhattan Life Insurance Co\nand Manhattan National Life Insurance Co units.\n Aniskovich, who fills a vacancy at the units, formerly was\nexecutive vice president of Union Central Life.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:10:39.71",
"places": [
"usa"
],
"id": "14262"
},
{
"title": "ACME PRECISION <ACL> SETS HOLDER VOTE ON BUYOUT",
"body": "Acme Precision Products Inc said it set\nits annual meeting for May 14 for shareholders to vote on the\nproposed management-led leveraged buyout of the company.\n The record date for the meeting will be April 16, with\nproxy materials to be sent to shareholders on or before April\n20.\n The buyout proposal, which was previously announced, will\nbe structured as a one for 100,000 reverse stock split. It must\nbe approved by a majority of shareholders. Acme Precision has\n1,008,857 shares outstanding.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:10:47.31",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14263"
},
{
"title": "UAL <UAL> AIRLINE PILOTS HOLDING NATIONAL MEETING",
"body": "The pilots union that has bid 4.5\nbillion dlrs to buy United Airlines from UAL Inc said it is\nholding a meeting for all airline employees that will be\ntelevised on closed-circuit channels across the country to\nother locations to present details of the offer.\n The meeting at a suburban Chicago location is intended to\nprovide information on the offer to buy the airline, it said.\n Lawyer F. Lee Bailey, pilot chiefs, attorneys and\ninvestment bankers from Lazard Freres, the pilots' financial\nadvisors, will speak, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:11:01.90",
"places": [
"usa"
],
"id": "14264"
},
{
"title": "NATIONAL GYPSUM DEBT UPGRADED BY MOODY'S",
"body": "Moody's Investors Services Inc said it\nupgraded upgraded to B-1 from B-3 National Gypsum Co's 887 mln\ndlrs of industrial revenue and pollution control bonds.\n Moody's said a highly leveraged capital structure and thin\ndebt protection continues since the April 1986 leveraged\nbuyout.\n But the firm is well-positioned in its business segments.\nAs the second-largest U.S. gypsum wallboard producer, it\ngenerates over 80 pct of operating earnings through wallboard\noutput. This business changes with the construction cycle and\nso increases Gypsum's cash flow vulnerability, Moody's said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:11:29.44",
"places": [
"usa"
],
"id": "14265"
},
{
"title": "NYNEX <NYN> TO HIRE TEMPORARY WORK FORCE",
"body": "Nynex Corp's New York Telephone said it\nwill hire 1,900 temporary clerical and technical employees to\nwork from April through October, with some positions open until\nDecember. It said salaries for jobs range from 245 dlrs a week\nfor inexperienced clerical workers to 700 dlrs a week for\nskilled technicians.\n N.Y. Telephone said it has been receiving 2,000 job\napplications daily, but needs 1,000 more applicants a day from\nwhich to select the temporary work force. The company also said\nit will hire nearly 900 permanent directory assistance\noperators to fill vacancies followed by normal turnover.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:11:38.55",
"places": [
"usa"
],
"id": "14266"
},
{
"title": "ERICSSON <ERICY> GETS U S WEST <USW> ORDER",
"body": "L.M. Ericsson Telephone Co\nsaid it has received a contract to provide U S West Inc with\nAXE digital central office switching equipment for use in\nIdaho, replacing 50 older electro-mechanical switches.\n Value was not disclosed.\n The company said U S West's Mountain Bell will place the\nfirst AXE in service before year-end and the project is to be\ncompleted by the end of 1991.\n The company said the replacement program follows an\nagreement between Mountain Bell and the Idaho Public Utilities\nCommission for conversion of a substantial part of the Idaho\ntelephone network to digital from analog technology over the\nnext five years.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:11:48.72",
"places": [
"usa"
],
"id": "14267"
},
{
"title": "MINNEAPOLIS SPRING WHEAT MOSTLY UP AT MIDDAY",
"body": "Spring wheat futures traded\nunchanged to two cents higher at midsession as firm exporter\ndemand lent support, traders said. May stood 1-1/2 cents higher\nat 2.85 dlrs.\n The 14 pct spring wheat cash basis was steady at 38 cents\nover May amid increased receipts of 186 cars. Milling durum was\nsteady at 3.95 to 4.00 dlrs and terminal quality was unchanged\nat 3.55 dlrs for Minneapolis and 3.80 dlrs Duluth.\n Other quotes were unchanged with Duluth sunseed at 7.80\ndlrs, number one and two oats at 1.55 to 1.66 dlrs, feed barley\nat 1.75 dlrs for Duluth and malting barley at 2.00 to 2.05\ndlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:12:00.75",
"id": "14268"
},
{
"title": "MIDWEST GRAIN FUTURES 12:10 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 UP 1 1/2\n JUL7 281 1/4 UP 1/2\n SEP7 276 1/2 UP 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 12:12:13.34",
"id": "14269"
},
{
"title": "VOLCKER SAYS FED POLICY NOT LINKED TO RATE RISE",
"body": "Federal Reserve Board Chairman Paul\nVolcker said that he did not believe there was a connection\nbetween the Fed's policies and the recent rise in the prime\ninterest rate by most major U.S. banks.\n Asked by reporters following testimony before the Senate\nBanking Committee whether the Fed had anything to do with the\nrise to 7-3/4 pct in the prime, he replied, \"not that I was able\nto detect.\"\n Reuter\n\u0003",
"date": " 7-APR-1987 12:12:22.60",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "14270"
},
{
"date": " 7-APR-1987 12:12:26.67",
"id": "14271"
},
{
"date": " 7-APR-1987 12:12:35.73",
"id": "14272"
},
{
"title": "MIDDAY WINNIPEG OILSEEDS HIGHER",
"body": "Winnipeg oilseeds were higher, with\nrapeseed gaining 2.10 to 2.50 dlrs a bushel and flaxseed up\n1.50 to 2.70.\n Oilseeds were supported by the rally in the Chicago soy\ncomplex, trade sources said. Further, recently active producer\nselling subsided, while exporters provided underlying support\nin flaxseed and crushers bought rapeseed, they said.\n Feed grain trade was quiet with locals and commission\nhouses dominating activity.\n Rye fell 0.10 to 0.20.\n Barley ranged 0.40 lower to 0.40 higher. Oats ranged\nunchanged to 0.30 lower. Wheat fell 0.20 to 0.50.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:12:44.58",
"id": "14273"
},
{
"title": "SCRAP COPPER QUOTED AT NOMINAL 51.50 CENTS",
"body": "Dealers quoted No.2 scrap copper at a\nnominal 51.50 cents up 0.50 cents from Monday.\n Refiners were willing to pay some 2.00 cents above that\nlevel for premium lots of scrap.\n\n\n Reuter\n\u0003",
"date": " 7-APR-1987 12:12:49.25",
"id": "14274"
},
{
"title": "LONDON COMMODITY EXCHANGE VOLUME STEADY - ICCH",
"body": "Trading volume on the London Commodity\nExchange held steady overall in March, according to figures\nissued by the International Commodities Clearing House.\n Total volume was 238,287 lots against 235,665 in March 1986\nand 233,403 in February 1987.\n Cocoa volume was down to 62,686 lots last month from 82,192\nlots in March 1986. It totalled 65,662 in February 1987.\n However, coffee volume grew to 100,597 lots from 93,440 a\nyear earlier and 83,283 in February this year.\n Sugar trading totalled 75,004 lots, up on the March 1986\ntotal of 60,033, but below February's 84,458.\n For the whole first quarter, sugar volume was substantially\nhigher at 232,601 against last year's 115,987, while coffee was\ndown to 269,190 from 433,487.\n Cocoa volume in the first quarter this year fell to 190,142\nfrom 221,899 in 1986 and total volume for the three commodities\nwas down to 691,933 from 771,373.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:12:57.51",
"id": "14275"
},
{
"title": "BANK OF ENGLAND EFFECTIVE INDEX SHOWS DOLLAR AT 101.6",
"body": "The Bank of England's effective\n exchange rate index showed the U.S. Dollar at 101.6 compared\nwith 101.7 previously.\n Other effective rates were =\n Australian dlr 55.7 ( 55.9 )\n Aus Sch 137.5 ( 137.6 )\n BFR con 99.9 ( 100.0 )\n CAN 79.3 ( 79.3 )\n DKR 92.7 ( 92.7 )\n FFR 71.5 ( 71.6 )\n DMK 146.4 ( 146.5 )\n LIT 47.9 ( 47.9 )\n YEN 219.6 ( 218.5 )\n DFL 134.3 ( 134.4 )\n NKR 79.3 ( 79.2 )\n SKR 68.5 ( 68.5 )\n SFR 172.3 ( 171.8 )\n\u0003",
"date": " 7-APR-1987 12:13:22.55",
"id": "14276"
},
{
"title": "INTERNATIONAL CREDIT HIGHLIGHTS - APRIL 7",
"body": "Belgium is launching a euro-commercial paper\nprogram for an unlimited amount with the issuance planned\nimmediately after signing in mid-May, First Chicago Ltd said as\narranger.\n London - Colombia is in the process of arranging two\nco-financings for projects in the electrical sector, director\nof public credit Mauricio Cabrera said.\n Abidjan - The African Development Bank said it increased\nits lending by 42.1 pct last year to 1.64 billion dlrs from\n1.15 billion dlrs in 1985.\n Manila - The Asian Development Bank said it had approved\ntwo loans amounting to 75.7 mln dlrs for agricultural projects\nin Bangladesh and Nepal.\n Washington - Federal Reserve Board chairman Paul Volcker\nsaid debtor nations have made much progress in laying the\ngroundwork for economic growth, but a solution to world debt\ndifficulties was endangered by inaction on new financing.\n Paris - The French treasury has decided to repay 680 mln\nfrancs of debt issued before 1950, the Finance ministry said.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:13:31.84",
"id": "14277"
},
{
"date": " 7-APR-1987 12:13:36.38",
"id": "14278"
},
{
"title": "CANADA STOCKS HIGHER AT MIDSESSION",
"body": "Toronto stocks prices rose higher into\nrecord territory, bolstered by the resource sector, but slowed\nthe momentum of the four-session climb.\n The composite index rose 13.30 points to 3894.60 on volume\nof 19.4 mln shares. Most stock groups joined in the rally with\nadvances outpacing declines 443 to 339.\n Gold miner Galactic Resources improved 7/8 to 10-1/8. It\nannounced yesterday plans to merge with Quartz Mountain Gold\nand said Cornucopia Resources granted an option to enter into a\nNevada joint venture. In other golds, Hemlo Gold gained 7/8 to\n27-1/4 and Lacana Mining rose 1-1/8 to 18-1/4.\n Oil shares provided support for the session's advance as\noils also turned higher on Wall Street. Imperial Oil class A\nsurged 7/8 to 73 dlrs, Shell Canada won 3/4 to 42-3/4 and\nTexaco Canada improved 3/4 to 36-3/4.\n Dome Petroleum slipped one ct to 1.15 dlrs after gaining\neight cts yesterday. Analysts said the stock was attractive on\na technical basis, adding they were increasingly optimistic\nthat Dome will complete a debt reorganization.\n Forest products continued higher. Rising issues included\nCanfor Corp 1-1/4 to 35-3/4, British Columbia Forest Products\n1/2 to 21-1/4 and Consolidated-Bathurst 1/4 to 21-1/4.\n Non-precious metals also joined in the resource-based\nrally. Alcan added 1/4 to reach 54-1/8, Falconbridge firmed 3/8\nto 20-1/4 among actives and Inco firmed 1/8 to 21-7/8.\n Volume leaders were mixed. Top active Canadian Pacific\nedged down 1/8 to 24-7/8 and Northern Telecom slipped 1/4 to\n59-3/4, while International Thomson rose 1/4 to 16-1/2.\n Montreal's market portfolio index gained 7.67 points to\n1942.70 with mining, utility and oil stock groups higher.\n In Vancouver, the index rose 8.6 points to 1882.6.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:13:56.32",
"id": "14279"
},
{
"title": "AEGON ISSUES 200 MLN GUILDER BONDS WITH WARRANTS",
"body": "Dutch insurer Aegon NV <AEGN.AS> plans\nto issue 200 mln guilder, 6.5 pct, six-year bonds at an issue\nprice of 101.00 pct with 200,000 warrants, lead-manager\nAmsterdam-Rotterdam Bank NV (Amro) said.\n From July 16, 1990, Aegon may, at its option, redeem early\nthe bonds in whole or in part. The issue has denominations of\n1,000 guilders.\n The warrants give the right to subscribe to a second series\nof bonds, a 200 mln guilder, 6.5 pct, six-year bullet loan. The\nissue price of the warrants has been fixed at 30 guilders each.\n From May 15 this year up to and including July 15, 1990,\neach warrant will entitle the holder to the bullet by surrender\nof the other bond and a warrant.\n After July 16, 1990, each warrant will entitle the holder\nto acquire one bullet at a price of 100 pct of the nominal\nvalue plus accrued interest from the preceding coupon date.\n Aegon will pay the holders of unexercised warrants,\noutstanding on July 15, 1993, 15.00 guilders each.\n Subscriptions close April 16 and pay date is May 14.\n Coupon date is July 15.\n Application will be made for listing on the Amsterdam Stock\nExchange. Amro said it was the second time it arranged a bond\nwith debt warrants for Aegon.\n This type of issue gives the holder the opportunity, in\ntimes of falling interest rates, to ensure himself of a fixed\nmaturity loan, while with unchanged or rising rates, he has the\noption not to exercise his warrant, Amro said.\n In the underwriting syndicate are ABN bank, Morgan Bank\nNederland, NMB bank, Rabo-bank, Pierson, Heldring en Pierson,\nMees en Hope, Van Haften en Co, Citicorp Investment Bank (The\nNetherlands) and Swiss Bank Corp Int Holland.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:14:07.20",
"places": [
"netherlands"
],
"id": "14280"
},
{
"title": "OMAHA HOGS UP 1.00 DLR - USDA",
"body": "barrow and gilt prices rose mostly 1.00\ndlr in active trade, the usda said. top 51.75 dlrs per cwt.\n us 1-3 220-260 lbs 51.00-51.50, near 100 head 230-240 lbs\n51.75.\n sows - steady/up 0.50 dlr. us 1-3 500-650 lbs 45.50-46.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:14:13.43",
"id": "14281"
},
{
"title": "WEIS MARKETS <WMK> IN THREE FOR TWO STOCK SPLIT",
"body": "Weis Markets Inc said its board\ndeclared a three-for-two stock split for holders of record May\n1, 1987, with a distribution date of May 22, 1987.\n The company also said a regular quarterly dividend of 16\ncts per share on the pre-split shares will be paid May 22 to\nshareholders of record May 1.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:14:27.51",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14282"
},
{
"title": "RAYTHEON <RTN> RECEIVES 37.5 MLN DLR CONTRACT",
"body": "Raytheon Co said it was awarded a\n37.5 mln Navy contract to provide engineering and technical\nservices for production of the standard Missle II program.\n This award provides for engineering support to the\n230-missle second source production contract currently under\nway at Raytheon's missile systems divsion facility, the company\nsaid.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 12:14:39.14",
"places": [
"usa"
],
"id": "14283"
},
{
"title": "LORIMAR <LT> GETS OUTBOARD MARINE <OMC> PACT",
"body": "Lorimar/Telepictures Corp said\nits Bozell, Jacobs, Kenyon and Eckhardt unit has been named the\nadvertising agency for the Lawn Boy unit of Outboard Marine\nCorp <OMC>, replacing Walker and Associates.\n Annual billings are estimated at four mln dlrs, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:15:04.46",
"places": [
"usa"
],
"id": "14284"
},
{
"title": "MCCORMICK CAPITAL <MKOR> 1986 YEAR NET",
"body": "Shr primary 24 cts vs 25 cts\n Shr diluted 21 cts vs 25 cts\n Net 530,583 vs 493,423\n Revs 10.2 mln vs 9,834,578\n Reuter\n\u0003",
"date": " 7-APR-1987 12:15:22.33",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14285"
},
{
"date": " 7-APR-1987 12:15:24.60",
"id": "14286"
},
{
"title": "N.Y. FCOJ FUTURES SURGE, OFF HIGHS MIDDAY",
"body": "Frozen concentrated orange juice\nfutures ran up as much as 4.40 cents on frantic speculative\nshort covering this morning, after local buying triggered buy\nstops in the May over 132.00 cents.\n Floor traders said the market has quieted now, and prices\nhave come off the highs as Florida trade took profits.\n May rose to 133.50 cents, up 2.3 cents, before retreating\nto 132.90 cents at 1208 hrs EST. July climbed 4.4 cents to\n133.50 cents as well, but was trading at 131.75 cents at noon.\n A report showing the speculators went net short the market\nlast week as well as liquidating longs spurred light trade\nbuying in the morning to test speculator resolve. The trade\nturned sellers at the top, floor sources said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:15:50.40",
"id": "14287"
},
{
"date": " 7-APR-1987 12:15:56.41",
"id": "14288"
},
{
"title": "LONDON SUGAR RALLIES FROM LOWS BY LATE AFTERNOON",
"body": "Raw sugar futures rallied from session\nlows by late afternoon on jobber shortcovering and trade\nbuying, posting pared losses from last night of 1.20 to 0.60\ndlrs.\n The rally mirrored a similar upturn in New York after the\nmarket had reacted bearishly to the realisation that new raws\nofftake from China and the Soviet Union was not materialising.\n However, dealers said, sentiment was still buoyed by\nprospective whites buying by India, Syria and Pakistan.\n Tomorrow's European Community (EC) tender result was\ndifficult to predict after last week's authorisation of 102,350\ntonnes at the highest-ever subsidy of 46.864 Ecus per 100 kilos.\n Tomorrow's EC tender was made all the more difficult to\nproject by the movement last week of nearly 800,000 tonnes\nsugar to intervention by operators protesting about low\nrebates, dealers said.\n Near Aug was finally quoted at 154.60/154.80 dlrs\n(bid-asked) from 155.80/156 last night and a session high-low\nof 155.80/152.\n Volume late afternoon was 3,371 lots including nearly 2,000\nlots crossed.\n London Daily Raws prices fell 3.50 dlrs on tone to 147 fob\nand 171 (105.50 stg) cif and the Whites 2.50 dlrs to 190.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:16:06.32",
"id": "14289"
},
{
"date": " 7-APR-1987 12:16:19.68",
"id": "14290"
},
{
"title": "PLEXUS <PLUSF> SETS EQUITY FINANCING",
"body": "Plexus Resources Corp said it\nwill undertake an 11 mln Canadian dlr equity financing package\nto allow development of the Rawhide Gold Project in central\nNevada.\n It said the financing will take place upon execution of\ncontracts currently being concluded with <Peter Kiewit Sons\nInc's> Kiewit Mining Group unit and Standard Oil Co's <SRD>\nKennecott unit.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:16:38.98",
"places": [
"usa"
],
"id": "14291"
},
{
"title": "LIVE CATTLE FUTURES MIXED AT MIDSESSION",
"body": "Live cattle futures continued to trade\nunevenly and at midsession prices stood 0.17 cent higher to\n0.25 lower with spot April pacing the gain and distant April\noff most.\n Mixed profit-taking continued to partly offset demand\nprompted by further gains in cash cattle and private reports of\nhigher cash beef prices. All months posted new season's highs\nearly before slipping, traders said.\n Market ready supplies of cattle remain tight and a rising\nwholesale carcass beef and boxed beef market is prompting good\npacker interest for cash cattle. Strong stoppers of deliveries\nadded to strength in April, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:16:57.74",
"id": "14292"
},
{
"title": "U.S. SAYS NO PACT ON RELIEF FOR POOREST STATES",
"body": "There is no consensus so far among\nindustrial countries on an agreement providing debt relief for\nthe world's poorest nations, a senior U.S. Treasury official\nsaid.\n The official said, \"There has not been a consensus reached\nyet,\" when asked about reports the Paris club of western\ncreditors had agreed to long-term stretch outs of African debt\nat concessional interest rates.\n The official, briefing reporters on this week's semiannual\nIMF meetings, said the issue would be discussed this week and\nthe U.S. had an open mind on the proposal but it did object to\nconcessional interest rate relief.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:17:12.51",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "14293"
},
{
"date": " 7-APR-1987 12:17:20.94",
"id": "14294"
},
{
"title": "LOUISVILLE FEEDERS STEADY/UP 1.00 DLR - USDA",
"body": "feeder cattle steady, instances up\n1.00 dlr, the usda said.\n steers - medium and large frame 1 - 500-600 lbs\n71.00-78.00, 600-700 lbs 67.75-73.25 and 700-800 lbs\n66.00-68.25.\n heifers - medium and large frame 1 - 500-600 lbs\n65.75-71.25.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:17:29.15",
"id": "14295"
},
{
"date": " 7-APR-1987 12:17:46.97",
"id": "14296"
},
{
"title": "U.S. MINT SEEKING OFFERS ON COPPER, NICKEL",
"body": "The U.S. Mint said it is seeking\noffers on 3,701,000 lbs of electrolytic copper and 629,000 lbs\nof electrolytic cut nickel cathodes or briquettes that it\nintends to purchase.\n It said both metals are for delivery in the week of May 11\nto Olin Corp, East Alton, Ill.\n Offers for the copper are due by 1100 hrs EDT, April 21,\nwhile offers on the nickel are due at 1100 hrs EDT on April 14.\n The Mint said that firms, in submitting their offers,\nselect to receive payment by standard check or be wire\ntransfer. Awards are determined by whichever of the two methods\nis most cost advantageous, based on the cost of money at that\ntime.\n The minimum acceptance periods for each solicitation is\nthree calendar days for the copper and 10 calendar days for the\nnickel, the Mint said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:19:00.96",
"topics": [
"copper",
"nickel"
],
"places": [
"usa"
],
"id": "14297"
},
{
"title": "FAMILY HEALTH SYSTEMS <FHSY> TO MAKE PURCHASE",
"body": "Family Health System Inc said\nThe Federal Bankruptcy Court in Fort Worth, Texas has approved\nits offer to purchase <Sheppard Dental Centers Inc's> assets\nfrom a Chapter 7 bankruptcy proceeding for about 300,000 dlrs.\n FHS administers and markets multiple office dental\npractices in the Dallas metropolitan area as well as dental\noffices in the Dallas Metroplex.\n The company said it plans to open 12 locations in Dallas by\nthe end of 1987.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:19:26.77",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14298"
},
{
"title": "EC SUGAR IMPORT LEVIES",
"body": "The following import levies for white\nand raw sugar are effective tomorrow, in European currency\nunits (ecu) per 100 kilos.\n White sugar, denatured and non-denatured 51.94 versus 51.94\npreviously.\n Raw sugar, denatured and non-denatured 44.01 versus 43.73\npreviously.\n The rate for raws is based on 92 pct yield.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:19:34.08",
"id": "14299"
},
{
"title": "OLD FASHION FOODS INC <OFFI> 3RD QTR FEB 28 NET",
"body": "Shr 10 cts vs 10 cts\n Net 131,000 vs 135,000\n Revs 4,222,000 vs 3,656,000\n Avg shrs 1,278,529 vs 1,356,672\n Nine mths\n Shr 31 cts vs 31 cts\n Net 406,000 vs 426,000\n Revs 12.3 mln vs 11.0 mln\n Avg shrs 1,330,511 vs 1,361,421\n Reuter\n\u0003",
"date": " 7-APR-1987 12:20:16.39",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14300"
},
{
"title": "CBT WHEAT FUTURES EASE TO MIXED BY MIDSESSION",
"body": "CBT wheat futures closed from early\ncontract highs in new crop to trade quietly mixed at\nmidsession, ranging from up 3/4 cent per bushel in May to down\n3/4 in new crop July.\n After opening higher on follow-through speculative buying\nafter yesterday's technically strong close, prices eased on\ntrade-talk that some countries who were holding buying tenders\nthis week have rejected U.S. offers or have taken wheat from\nother exporting countries, traders said.\n However, the strong chart picture probably will limit\ndeclines, they added.\n Cargill Grain was the featured seller in new crop July,\nsparking rumors that the U.S. is currently not competitive on\nthe World wheat market, even with government programs.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:20:30.83",
"id": "14301"
},
{
"title": "LME COPPER CLOSES AFTER RETREAT FROM EARLIER HIGHS",
"body": "LME afternoon ring dealings in copper\nended with three months Grade A business at 879 stg per tonne,\na rise of three from yesterday's afternoon kerb close,\nequivalent to 1,410 dlrs per tonne, up four.\n However, values were off the day's highs, reflecting the\nsofter tone on Comex, while the cash to three months premium\nnarrowed to 32 stg in the absence of followthrough to earlier\nnearby buying, traders said. The breakdown of the spread\npremium equated to 20, seven and five stg for the first, second\nand third months, respectively. Standard metal finished with an\nindicated backwardation of around two stg.\n Morning ring dealings ended with forward business at a high\nof 883 stg per tonne, equivalent to 1,417 dlrs. Business\nfeatured a wave of cash pricing purchases near the official\nclose which established an indicated spread backwardation of 37\nstg after earlier borrowing at a premium of 32, unchanged from\nyesterday afternoon, traders said.\n Forward values extended pre-market gains, despite currency\nfactors, with short covering and some chart support evident.\n Ring dealings also included options-linked borrowing\ninterest from end April dates for one month at a backwardation\nof 23 stg.\n Analysts said the 870 stg area appears to have provided a\nminor chart support base, although upside potential remains\nlimited against a background of only routine physical demand\nand a buoyant U.K. Currency.\n On the morning pre-market, activity was mainly dollar-based\nand within the range 1,408 to 1,411 dlrs per tonne, traders\nsaid.\n Standard grade retained a spread backwardation of 10 stg\nbut was tradeless.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:20:38.93",
"id": "14302"
},
{
"title": "MOTOROLA <MOT> SELECTS SYSTEM COMPILERS",
"body": "Motorola Inc said it has selected\n<Oregon Software's> Pascal-2 compilers as the compiler for its\nMC68000 family of 16-bit microprocessor chips under the\nVERSados and SYSTEM V/68 operating systems.\n Also, Motorola said that its Microcomputer Division and\nOregon Software will be the sole supplier of the Pascal\nsuppliers.\n Motorola said the Pascal-2 compiler for SYSTEM V/68,\nsupporting the MC68020 and MC68881, is priced at 2,800 dlrs for\nJune delivery.\n It added that the Pascal-2 compiler for the VERSAdos system\nis priced at 2,800 dlrs for June delivery.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:21:03.00",
"places": [
"usa"
],
"id": "14303"
},
{
"date": " 7-APR-1987 12:21:43.35",
"id": "14304"
},
{
"date": " 7-APR-1987 12:21:55.88",
"id": "14305"
},
{
"title": "MIDWEST GRAIN FUTURES 12:20 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 UP 1 1/2\n JUL7 281 1/4 UP 1/2\n SEP7 276 1/2 UP 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 12:22:02.61",
"id": "14306"
},
{
"title": "MIDSESSION FEEDER CATTLE FUTURES MIXED",
"body": "Feeder Cattle futures traded 0.02 cent\nlower to 0.25 higher in light midsession dealings.\n All but distant March posted a new season's high on general\ndemand before profit-taking developed. Spreading of long\ndeferred cattle futures/short May feeder cattle added to the\npressure in May, traders said.\n Although profit-taking weighed on prices, strong\nfundamentals continued to provide support. Cash feeder cattle\nremain strong on limited supplies and continued gains in live\ncattle futures prompted spillover demand.\n The average feeder steer price, USFSP, rose 10 cents in the\npast two reporting days, traders noted.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:22:29.37",
"id": "14307"
},
{
"date": " 7-APR-1987 12:22:39.82",
"id": "14308"
},
{
"date": " 7-APR-1987 12:22:54.83",
"id": "14309"
},
{
"title": "CONSOLIDATED-BATHURST SEES BETTER MARKET",
"body": "(Consolidated-Bathurst Inc) said it\nexpects improvement in the pulp and paper sector shown in the\nsecond half of 1986 to continue this year. The continued\nimprovement would be due to good market demand, better product\nprices and high operating capacity, the company said in its\nannual report.\n Consolidated-Bathurst, which reported operating profit of\n104 mln dlrs last year on sales of 2.02 billion dlrs, said its\njoint-venture acquisition of a market pulp mill at Castlegar,\nB.C. last year broadens its product range and will contribute\nto equity earnings.\n Last year's results were up from 1985 operating profit of\n80 mln dlrs and sales of 1.73 billion dlrs.\n The company said it views its near-term prospects with\nimproved optimism.\n It said results from its Bridgewater newsprint mill in the\nU.K. should improve greatly this year due to stronger capacity\nand production and more favorable market conditions.\n It said it anticipates a return to profitability in 1987\nfor its Diamond-Bathurst Inc (DBH) subsidiary, which lost 6.2\nmln U.S. dlrs and underwent a reorganization last year, and\nexpects higher sales and earnings for its other North American\npackaging divisions.\n Consolidated-Bathurst said the outlook for its Europa\nCarton unit is mixed. It said the effect of trade disputes\nbetween the United States and the European Economic Community\non the West German economy and the higher value of the mark may\nlead to increased costs which could not be offset by price\nincreases.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:23:05.84",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "14310"
},
{
"title": "LONDON COFFEE CLOSES FIRMER IN DULL TRADING",
"body": "Robusta futures closed firmer after a\nlacklustre session, ranging 19 to three stg per tonne higher.\nSecond position July settled up 19 at 1,270 stg.\n The rise mostly reflected a technical consolidation of\nrecent losses, dealers said. Roaster interest appeared to be\ntapering off and origin offers were insignificant, providing\nlittle trading incentive.\n Now that Brazil has closed its May registrations, the\nmarket is awaiting fresh fundamental news, they added.\n Volume totalled 4,170 lots, including six options and 1,600\ncrosses.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:23:17.89",
"id": "14311"
},
{
"title": "LONDON EXCHANGES - SDR CALCULATION",
"body": "The following information\n has been advised by the Bank of England to the\n International Monetary Fund in Washington to\n enable calculation of the value of the SDR -\n middle spot rates at noon today.\n DMK 1.8216\n FFR 6.0612\n YEN 145.15\n STG 1.6198\n\u0003",
"date": " 7-APR-1987 12:23:46.79",
"id": "14312"
},
{
"title": "MORE U.S. GRAIN CERTIFICATES NEEDED, STUDY SAYS",
"body": "More generic grain certificates\nshould be released onto the market in order for the U.S.\ncertificate program to have its full effect on commodities,\naccording to a study by Sparks Commodities Inc.\n The Agriculture Department should make grain deficiency\npayments and paid land diversion payments in a two-third\ncertificate, one-third cash ratio through fiscal year 1989, \nCarroll Brunthaver, president of Sparks Commodities, told a\nHouse agriculture subcommittee hearing on certificates.\n Thereafter, government payments should be issued in roughly\na 50-50 split between cash and certificates, Brunthaver said.\n The Sparks study on certificates examined two possible\nscenarios through the 1990 growing season -- a \"zero\ncertificate case,\" where no certificate program was assumed,\nand an alternative case labeled \"adequate certificate case\" in\nwhich sufficient certificates would be released so that grain\nprices would not be artificially supported by market shortages\ndue to acreage reduction programs or government holdings.\n The study showed that total grain use under the adequate\ncertificate scenario would exceed the zero certificate scenario\nby 11.2 pct.\n Usage would be markedly more in 1989 and 1990, when grain\nusage under a certificate program was estimated to exceed the\nzero certificate case by 15 to 19 pct.\n For the five-year period examined, government expenditures\nunder the adequate certificate case were 7.0 billion dlrs, or\n7.5 pct less than under the zero certificate case.\n The Sparks study said that 5.1 billion dlrs, or 70 pct of\nthose savings resulted from smaller government storage costs.\n The study also estimated that government grain stocks under\nthe adequate certificate case would be 4.7 billion bushels\nbelow the zero certificate case at the end of the period\nexamined.\n The Sparks study said that while certificates permit market\nprices to fall below loan levels, these lower prices increase\ncommodity usage and reduce the net costs of certificates versus\ncash.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:24:35.97",
"topics": [
"grain"
],
"places": [
"usa"
],
"id": "14313"
},
{
"title": "CUMMINS ENGINE <CUM> SEES IMPROVED EARNINGS",
"body": "Cummins Engine Co said it told\nshareholders higher engine orders to the North American\nheavy-duty truck market will result in improved earnings in the\nfirst quarter.\n Cummins said the company should make progress this year and\nnext toward its goal of five pct profitability.\n Cummins recorded net income of 3,743,000 dlrs, or 38 cts\nper share, on sales of 516.9 mln dlrs.\n It said it expects 1987 North American heavy-duty truck\nproduction to total 135,000 units, an 8.5 pct increase from\n1986.\n Cummins said it expects capital expenditures to total about\n155 mln dlrs, down from 274 mln dlrs the year before.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:25:06.79",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14314"
},
{
"title": "NORTH-WEST TELECOM <NOWT> MAKES ACQUISITION",
"body": "North-West Telecommunications Inc\nsaid it acquired the assets and customer base of Com-Tel\nSystems Inc, a telephone interconnect firm that operates in La\nCrosse and Stevens Point, Wis. and Rochester, Minn.\n It said the purchase only includes the businesses in La\nCrosse and Rochester.\n Terms were not disclosed.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:25:25.69",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14315"
},
{
"title": "MILTON ROY CO <MRC> SETS REGULAR DIVIDEND",
"body": "Qtly div 11 cts vs 11 cts prior\n Pay June 15\n Record May 15\n Reuter\n\u0003",
"date": " 7-APR-1987 12:25:37.67",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14316"
},
{
"date": " 7-APR-1987 12:25:48.66",
"id": "14317"
},
{
"title": "LIVE HOG FUTURES UP FURTHER AT MIDSESSION",
"body": "Live Hog futures recovered from early\nprofit-taking and ran up to new day's highs at midsession.\nFutures posted gains of 0.80 to 0.12 cent paced by July.\n Early commercial profit-taking lacked followthrough and\nprices ran up again on scattered demand. Computer house buying\nadded to strength and futures ran up to new day's highs,\ntraders said.\n Light hog runs and expectations of steady to higher cash\nhogs again tomorrow provided the bulk of support. Farmers are\ntaking to the fields in some areas and sending fewer hogs to\nmarket, they said.\n Although cash hams are called sharply lower at noon, most\ntraders noted this had been expected as Easter demand abated.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:26:18.63",
"id": "14318"
},
{
"title": "LONDON GASOIL CALL COMPLETE 1723 - APR 7",
"body": "Apr 149.00 149.00 149.25 149.75 147.75 2184\n May 147.75 147.50 147.75 148.00 146.25 2000\n Jun 146.75 146.25 146.75 147.25 146.00 536\n Jul 146.25 146.25 147.00 147.25 146.25 95\n Aug --- 146.50 147.50 --- --- ---\n Sep --- 148.00 151.00 --- --- ---\n Oct --- 149.00 --- --- --- ---\n Nov --- 147.00 --- --- --- ---\n TOTAL SALES 4815\n\u0003",
"date": " 7-APR-1987 12:26:27.32",
"id": "14319"
},
{
"title": "bBANK OF CANADA DOLLAR STERLING RATES",
"body": "The Bank of Canada said the U.S. dollar at\nsoon was 1.3053 compared to\n1.3074 dollars yesterday.\n The pound sterling rates at noon 2.1130 compared to 2.1147\nyesterday.\n \n\u0003",
"date": " 7-APR-1987 12:26:32.36",
"id": "14320"
},
{
"date": " 7-APR-1987 12:26:35.07",
"id": "14321"
},
{
"date": " 7-APR-1987 12:26:48.87",
"id": "14322"
},
{
"title": "OKLAHOMA CITY FEEDERS STEADY - USDA",
"body": "feeder cattle steady amid good\ndemand, the usda said.\n steers - medium, few large, frame 1 - 540-600 lbs\n75.30-81.50, 650-700 lbs 70.05-73.90 and 700-800 lbs\n70.20-73.20.\n heifers - medium frame 1 - 550-600 lbs 66.50-71.00, 625-700\nlbs 66.00-68.10 and 700-800 lbs 64.50-67.80.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:27:25.05",
"id": "14323"
},
{
"title": "OHIO MATTRESS CO <OMT> 1ST QTR FEB 28 NET",
"body": "Shr 15 cts vs 15 cts\n Net 2,407,000 vs 2,393,000\n Revs 117.2 mln vs 67.1 mln\n Note: Aggregate judgments in antitrust and other suits of\n77 mln dlrs not included in year-ago or 1987 1st qtr results.\nCompany said any portion of this amount, including related\ninterest or attorneys' fees, would be proportionately reflected\nas a reduction in its minority interest of Sealy recorded on\nits consolidated balance sheet upon final settlement of\nlitigation.\n Note: Consolidated balance sheet as of end of 1st qtr\nreflects after-tax impact of 50 mln dlr settlement won by Sealy\nlicensee in Michigan.\n 1987 results include all operations of all acquired\nSealy-brand licensees and 82 pct of Sealy. Remaining 18 pct of\nSealy is recorded as minority interest.\n Proceeds of 170 mln dlrs from sale of stock and debt were\nused to reduce balance of revolving credit agreement to 80 mln\ndlrs. Accordingly, 250 mln dlr obligation to banks under credit\nagreement was recorded as a long-term liability as of end of\n1st qtr.\n Note: In April, company intends to acquire Michigan Sealy\nlicensee and fund transaction with 25 mln dlrs in cash and\nborrow balance required from banks.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:28:01.25",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14324"
},
{
"title": "MOODY'S MAY UPGRADE PUBLIC SERVICE INDIANA'S 1.1 BILLION DLRS OF DEBT\n",
"date": " 7-APR-1987 12:28:05.69",
"id": "14325"
},
{
"title": "WORLD SUGAR FUTURES PARE LOSSES BY MIDSESSION",
"body": "World sugar futures pared their losses\nby midsession when early selling dried up, allowing an easy\nretracement on trade buying, brokers said.\n The market dropped sharply this morning when computer fund\npressure entered at 6.60 cents basis May, triggering heavy\nstop-loss selling, brokers said.\n Spot May tumbled to 6.52 cents a lb before recovering to\n6.76 cents, off 0.03 cent.\n The sell-off was a continued reaction to the market's\ninability yesterday to breach resistance levels for a test of\n7.0 cents basis May, brokers said.\n There was no fundamental reason for the drop, analysts\nsaid.\n Volume at noon EDT was estimated at 11,682 lots.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:28:22.38",
"id": "14326"
},
{
"title": "ITALIAN BANK DEPOSIT GUARANTEE FUND APPROVED",
"body": "The executive committee of the Italian\nnational banking association (ABI), representing the country's\nmajor credit institutions, approved the setting up of a common\nreserve fund to guarantee customer deposits in the event of\nbank failures.\n ABI chairman Giannino Parravicini told a news conference\nthat the fund would not be operative until the latter part of\n1987, and only on condition that 60 pct of banks representing\nat least 75 pct of total deposits participated.\n He said the fund would initially have 1,000 billion lire\navailable and would cover deposits of up to three billion lire.\n A statute for establishing a deposit guarantee fund has\nalready been approved by the Bank of Italy and by an\ninterministerial committee on credit and savings.\n The 1,000 billion lire initial funding, which will be\nprovided through contributions from banks which opt to join the\nscheme, compares with an originally targetted figure of 4,000\nbillion lire.\n Parravicini said the fund would be gradually increased to\n4,000 billion lire by end 1991, and that the decision to\nachieve this figure gradually rather than immediately was due\nto fiscal considerations.\n The fund, still to be formally ratified by ABI's steering\ncommittee, will provide 100 pct coverage on deposits of up to\n200 mln lire, 90 pct on deposits between 200 mln and one\nbillion lire and 80 pct on those between one billion and three\nbillion lire.\n Assuming that all banks join the fund, contributions would\nbe equivalent to around 0.25 pt of a bank's total deposits.\n The ABI's steering committee later unanimously ratified the\nexecutive committee's decision to create the common reserve\nfund.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:28:58.61",
"places": [
"italy"
],
"id": "14327"
},
{
"title": "COMPUTER NETWORK<CMNT> MAKES SIX INSTALLATIONS",
"body": "Computer Network Technology Corp\nsaid after six months of testing, American Telephone and\nTelegraph Co <T> has installed initial orders for six of the\ncompany's CHANNELink 5100/R products.\n The product is used for interconnection of IBM mainframe\ncomputers.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:29:17.53",
"places": [
"usa"
],
"id": "14328"
},
{
"title": "LME NICKEL CLOSE SLIPS TO DAY'S LOW",
"body": "LME nickel ended the afternoon rings with\nthree months metal indicated from 2,355 to 2,360 stg per tonne,\nequivalent to 1.7175 dlrs per lb, unchanged from yesterday's\nafternoon kerb close.\n The afternoon first ring slipped to the day's low of 2,355\nin very quiet trading which mostly comprised miscellaneous\ncarries, traders said. The session high of 2,370 stg was\nreached near the official morning ring close on trade buying\nbefore speculative profittaking and hedging operations halted\nthe advance, traders said. Analysts said the brief rise above\nthe 1.72 dlr level gave the market a slightly bullish\nappearance.\n There was still borrowing interest over the last two\ndelivery months at a narrower contango of five stg.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:29:28.17",
"id": "14329"
},
{
"title": "CBT SOYBEAN FUTURES MOSTLY HIGHER AT MIDSESSION",
"body": "CBT soybean futures held gains of three\nto 6-1/2 cents per bushel in moderately light midsession trade,\nwith new crop supported by local house buying.\n Slow country movement, steady to firmer cash soybean basis\nvalues and a delayed Brazilian harvest combined to support\nfutures from the opening, despite a disappointing drop in the\nweekly soybean export figure yesterday, traders said.\n The advance above the psychologically important 5.00 dlr\nmark in both old and new crop kept the chart picture bullish,\nwhich could limit declines when South American sales begin to\npick-up later this month, they added.\n However, some traders said new crop prices above 5.00 dlrs\na bushel could encourage some farmers to plant more soybean\nacres than they originally planned.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:29:42.05",
"id": "14330"
},
{
"title": "YUGOSLAVIA DISCUSSES COMMERCIAL DEBT REFINANCING",
"body": "Yugoslavia, which refinanced part of\nits 19.7 billion dlr debt in talks with creditor governments\nlast week, has begun talks with banks on rescheduling its\ncommercial debt, the official Tanjug news agency said.\n The talks began in Washington yesterday and Tanjug said the\ngeneral attitude of the banks was \"favourable.\"\n At the same time, other Tanjug reports showed Yugoslavia is\nhaving difficulties in obtaining a 600 mln ECU loan from the\nEuropean Community (EC) and in receiving money owed to Yugoslav\nfirms by Middle Eastern countries.\n The Western creditor governments and Kuwait agreed on March\n31 to refinance 475 mln dlrs of Yugoslavia's debt due in 1987\nand 1988. This made possible the talks with commercial banks.\n Tanjug said sources close to the Yugoslav delegation said\nthe initial reaction of commercial banks was favourable despite\ntheir continued insistence on \"technical and legal elements.\"\n It said it was believed that a commercial debt rescheduling\nwould be formally agreed in the next few weeks. Bank debt\naccounts for about 70 pct of Yugoslavia's overall debt, which\nstood at 19.7 billion dlrs at end-1986.\n Tanjug said Yugoslavia also discussed with its commercial\ncreditors the idea of converting some of Yugoslavia's debt into\njoint venture investments but it gave no details of this.\n It said Deputy Finance Minister Boris Skapin was holding\ntalks on this with representatives of Manufacturers Hanover\nTrust Co., Which coordinates the interests of several hundred\nbanks in Yugoslav debt negotiations.\n In a separate report Tanjug said the EC has so far refused\na Yugoslav request for a 600 mln ECU infrastuctural loan and a\n100 mln ECU grant from the EC budget. The EC had so far only\nagreed to provide 380 mln ECUs towards transport modernisation.\n It said Yugoslav Finance Minister Svetozar Rikanovic\nyesterday met World Bank and International Monetary Fund\nofficials in Washington.\n It said the World Bank agreed that infrastructural projects\nin Yugoslavia should be accelerated and structural adjustment\nloans should be agreed this year.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:29:51.39",
"organisations": [
"ec",
"imf",
"worldbank"
],
"places": [
"yugoslavia"
],
"id": "14331"
},
{
"title": "LME LEAD CLOSES FIRMER",
"body": "LME lead prices tended firmer as the\nmarket edged towards the higher end of its current narrow\ntrading range, aided by a burst of cash metal pricing purchases\nin the official morning rings, delers said.\n Three months delivery ended the afternoon ring at 301.50\nstg, up 2.50 stg a tonne from yesterday afternoon's kerb close,\nand the dollar equivalent ended around 484 dlrs a tonne.\n The cash metal buying widened the backwardation to around\nseven at one stage from three stg a tonne yesterday.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:31:01.03",
"id": "14332"
},
{
"date": " 7-APR-1987 12:31:27.00",
"id": "14333"
},
{
"date": " 7-APR-1987 12:31:50.76",
"id": "14334"
},
{
"title": "LONDON SUGAR NO.6 AT 1730 - APR 7",
"body": "153.0 147.0 1504\n Aug 156.8 156.8 --- 156.8 152.0 495\n Oct 160.0 161.0 --- 160.0 155.6 1739\n Dec 161.0 161.6 163.0 163.0 161.0 54\n TOTAL SALES 3792\n\u0003",
"date": " 7-APR-1987 12:32:09.59",
"id": "14335"
},
{
"date": " 7-APR-1987 12:32:16.63",
"id": "14336"
},
{
"title": "BOESKY AIDE DAVIDOFF CONSENTS TO SEC PENALTIES; AGREES TO HELP INVESTIGATION\n",
"date": " 7-APR-1987 12:32:28.82",
"id": "14337"
},
{
"date": " 7-APR-1987 12:33:13.43",
"id": "14338"
},
{
"date": " 7-APR-1987 12:33:23.89",
"id": "14339"
},
{
"title": "USSR CROP WEATHER SUMMARY -- USDA/NOAA",
"body": "Gradual warming continued in most\nregions of Western Soviet Union in the week ended April 4, the\nJoint Agricultural Weather Facility of the U.S Agriculture and\nCommerce Departments said.\n In its International Weather and Crop Summary, the agency\nsaid most of the region's precipitation fell as rain.\n The southern snow cover boundary continued to slowly\nretreat northward and eastward, it said.\n Moderate to deep snow cover the northern half of the\nUkraine, northern North Caucasus, and the lower Volga, about\none month later than usual, it said.\n The agency said average weekly temperatures were below\nnormal in the southeast, near normal in the southwest and\nnortheast, and above normal in the northwest.\n Winter grains remained dormant over the region, but warm\nweather promoted greening in crop areas adjacent to the Black\nSea coast, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:33:33.26",
"topics": [
"grain"
],
"places": [
"ussr",
"usa"
],
"id": "14340"
},
{
"date": " 7-APR-1987 12:33:58.85",
"id": "14341"
},
{
"title": "DOLLAR SLIGHTLY LOWER AT NEW YORK MIDSESSION",
"body": "The dollar remained on the defensive in\nsubdued dealings with few traders willing to take any major\nrisks ahead of this week's international monetary meetings in\nWashington, dealers said.\n \"Everybody is waiting for developments from the talks. In\nthe meantime, it's just jobbing positions back and forth,\" said\na dealer at one U.S. bank.\n The Group of Five, comprising the U.S., Japan, West\nGermany, France and the U.K., are scheduled to convene today.\n The dollar hovered at 145.25/30 yen, down from 145.85/90\nlast night, and eased to 1.8255/60 marks from 1.8260/70.\n The stage for the dollar's decline was set overnight in the\nFar East where the U.S. currency retreated despite steady\nintervention on its behalf by the Bank of Japan.\n Dealers in Japan cited speculation that the G-5/G-7 talks\nare unlikely to produce any significant or lasting measures to\nstabilize currencies as one reason for the sell-off.\n No central bank intervention was detected in the U.S. where\nthe dollar kept well within recent trading parameters.\n Despite the view that trade and economic imbalances dictate\na downward course for the dollar, few U.S. dealers wished to\nsell it aggressively before this week's meetings.\n Statements by Federal Reserve Board chairman Paul Volcker\nduring testimony before the Senate Banking Committe failed to\nrouse the market from its inertia.\n Volcker reiterated that a further, sizeable dollar decline\nmay be counter-productive. He also said that currency changes\nthat have occurred so far should be large enough -- in a\ncontext of a growing world economy and fiscal restraint in the\nU.S. -- to support expectations for a narrower U.S. trade gap.\n \"There was nothing new or remarkable there,\" said a dealer\nat one European bank. The dollar's brief rise to 1.8270 marks\nwas already underway when Volcker spoke, he added.\n With the dollar becalmed, dealers looked to cross-rates,\nespecially sterling, yen and Swiss franc, for interest.\n Sterling continued to benefit from U.K. public opinion\npolls indicating a lead for the ruling Conservative party in\nany general election and following signals of an improved\neconomy.\n The pound hovered at 1.6175/85 dlrs, unchanged from Monday,\nand at 2.955 marks, off slightly from about 2.955 last night.\n The dollar eased to 1.5120/30 Swiss francs from 1.5180/90,\nand to 1.3048/53 Canadian dollars from 1.3080/85 yesterday.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:34:11.37",
"id": "14342"
},
{
"title": "LONDON COCOA CLOSES NARROWLY MIXED",
"body": "Cocoa futures ended a moderate day's\ntrade narrowly mixed from last night at one stg down to two up\nin a 2,227 lot volume including 523 crossed and 278 switches.\n Dealers said contrasting bearish and bullish factors kept\nthe market in narrow range trading, leaving July quoted at\n1,319 stg from 1,318 asked yesterday and a high-low of\n1,324/1,316.\n Prices were pressured early by firm sterling against the\ndollar as well as overhead West African new crop offers.\n Opposing support was seen from prospective ICCO buffer\nstock buying (possibly next week) and recent Bahia Temperao\ncrop forecasts at down to 1.5 mln bags, dealers said.\n The Ivory Coast was believed to have sold new crop\nyesterday around 1,325 French francs per 100 kilos cif while\nGhana was also reported to be offering new crop at 1,460 stg a\ntonne cif.\n Such offers were still available although the fall from\nearlier highs would have made them out of reach, dealers said.\n Resale physicals were basically quiet although some\nbook-squaring was likely to have taken place in the run-up to\nbuffer stock buying, they said.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:34:27.16",
"id": "14343"
},
{
"title": "SIOUX FALLS HOGS UP 1.50/1.75 DLR - USDA",
"body": "barrow and gilt prices rose 1.50 dlr\nto mostly 1.75 dlr in active trade amid very good demand, the\nusda said. top 52.00 dlrs per cwt.\n us 1-3 220-250 lbs 51.75-52.00, 210-220 lbs 51.50-52.00 and\nsome near 200 lbs 50.50.\n sows - up 0.50 dlr.\n us 1-3 500-650 lbs 46.00-46.50 and few 600-650 lbs 47.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:34:34.65",
"id": "14344"
},
{
"date": " 7-APR-1987 12:34:51.58",
"id": "14345"
},
{
"date": " 7-APR-1987 12:35:00.05",
"id": "14346"
},
{
"title": "MIDWEST GRAIN FUTURES 12:30 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 285 UP 1 1/2\n JUL7 282 UP 1 1/4\n SEP7 277 1/2 UP 1 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 12:35:10.85",
"id": "14347"
},
{
"date": " 7-APR-1987 12:35:30.00",
"id": "14348"
},
{
"date": " 7-APR-1987 12:35:41.15",
"id": "14349"
},
{
"date": " 7-APR-1987 12:35:47.35",
"id": "14350"
},
{
"title": "U.S. HOUSE LEADER THINKS TAX HIKE WILL PASS",
"body": "House Democratic leader Thomas Foley\nsaid he thought the House would approve a budget resolution\ncalling for 22 billion dlrs of new revenues including 18\nbillion dlrs of new taxes.\n \"I think we will have enough votes to pass the budget\nresolution and implement it,\" Foley told reporters.\n Asked why he thought a majority of the House was willing to\nsupport higher taxes, Foley said, \"The deficit problem has\nbecome more apparent.\" President Reagan has said he will veto\nany legislation raising taxes. The House is expected to act on\nthe budget resolution this week.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:35:58.19",
"places": [
"usa"
],
"id": "14351"
},
{
"title": "WALL STREET STOCKS HIGHER AT MIDSESSION",
"body": "Wall Street demonstrated its\nperseverance today as it recovered from an early wave of\nselling and posted a strong advance at midday. The gain was\nfueled by a strong auto sector as investors accumulated the\nstocks in anticipation of bullish news later this week.\n The Dow Industrials, down 10 in the first minutes of the\nsession when a weak dollar and falling bond prices underscored\nthe market's lingering interest rate anxieties, recovered to\nstand at 2417, up 11 points at midday. The broader market\nshowed less vigor, however, as advances eked out a lead over\ndeclines. Volume was a strong 106 mln shares.\n Ford, up over a point for most of the session, stood at\n90-5/8, up 1/2. Traders said that speculation that the company\nwill announce a stock split and dividend increase at its board\nmeeting on Thursday, encouraged the buying. Ford rose 2-5/8\nyesterday.\n General Motors rose 1-5/8 to 83-1/8 in anticipation of\nbullish news coming out of an analysts meeting scheduled for\nThursday and Friday, traders said. Chrysler, not expected to\nmake any major announcements this week, fell 1/2 to 57-3/4.\n \"With the bonds weak this morning, the blue chips have been\nholding the market up and that advance was sustained by an\ninflux of foreign money,\" analyst Charles Jensen of MKI\nSecurities said. \"But poor breadth and poor performance by the\ntransport and utility averages and the fact the market is at\nthe top of its trading band supported in large part by foreign\ncash, makes this market vulnerable,\" he said.\n Traders noted that Federal Reserve chairman Paul Volcker's\nremarks today concerning the dollar's performance and its\nbearing on monetary policy, injected caution into many\ninvestors.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:36:13.68",
"id": "14352"
},
{
"date": " 7-APR-1987 12:36:20.77",
"id": "14353"
},
{
"title": "U.S. WEATHER/COTTON SUMMARY -- USDA/NOAA",
"body": "Cotton planting continued progressing\nin the week ended April 5, but cold, wet weather in the South\nhampered seedbed preparation, the Joint Agricultural Weather\nFacility of the U.S. Agriculture and Commerce Departments said.\n In a summary of its Weather and Crops Bulletin, the agency\nsaid planting increased in California as soil temperatures\nimproved.\n Texas planted 10 pct compared with an average of eight pct.\nArizona and Georgia planted 35 pct and two pct, respectively,\nit said.\n Oklahoma farmers prepared 10 pct of their cotton seedbeds,\n15 points below average, the agency said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:36:30.58",
"topics": [
"cotton"
],
"places": [
"usa"
],
"id": "14354"
},
{
"title": "COMEX SILVER FUTURES HOLD GAINS AT MIDDAY",
"body": "Comex silver futures held sharply\nhigher morning levels at midday, but further advances were\nchecked by overseas and commercial selling.\n May was up 12.5 cents at 6.705 dlrs as of 1223 hrs EDT.\nJuly was up 13.1 cents at 6.785 dlrs, both exactly as they were\nat 1000 hrs EDT this morning.\n Traders said locals remain long and speculative interest\ncontinues. But profit taking has intensified on expectations of\na corrective downward move if the market becomes overbought.\n Some interest has been drawn away from silver by a further\nrecord-setting stock market advance.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:36:38.86",
"id": "14355"
},
{
"title": "PORK BELLY FUTURES HIGHER AT MIDSESSION",
"body": "Pork belly (bacon) futures fell for net\nlosses after starting higher, but firmed again at midsession to\npost gains of 0.25 to 0.60 cent paced by February.\n Strength in other meat pits, especially live hog futures,\nstimulated renewed local demand. Higher cash hog markets, light\nruns as farmers take to the fields and possibly light slaughter\nprompted support. Technical buying after yesterday's reversal\naction added to the advance, traders said.\n Commission house profit-taking selling prompted by\nexpectations of a negative out of town storage report this\nafternoon weighed on prices early. Guesses on the report ranged\nfrom in 1.0 to 2.25 mln lbs, they noted.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:37:31.68",
"id": "14356"
},
{
"title": "DOLLAR STEADY IN EUROPE AHEAD OF WASHINGTON TALKS",
"body": "The dollar was steady ahead of a series\nof meetings of leading finance ministers starting today in\nWashington, despite low expectations for the outcome of the\ntalks and still negative underlying sentiment toward the\ndollar.\n \"There's too much disagreement between the Japanese and the\nrest for them to come out with anything unanimous,\" said one\nU.K. Merchant bank trader, reflecting the general tone.\n However, dealers said position squaring helped push the\ndollar to a final 1.8240/50 marks, up from the opening\n1.8195/205 and near yesterday's close of 1.8245/55.\n Meanwhile, the pound was underpinned by today's opinion\npoll findings of further strong support for the Conservative\nParty, but fear of Bank of England intervention limited buying.\n Dealers said they doubted the U.K. Central bank had needed\nto sell sterling to curb rises today, with the markets so\nquiet. The Bank of England was rumoured to have sold pounds\nyesterday.\n Sterling ended at 72.3 pct on the trade weighted index,\nunchanged from the opening but off 0.1 point from yesterday's\nfinish. It closed at 1.6185/95 dlrs, after an opening 1.6213/23\nand previous close of 1.6163/73, and at 2.9490/520 marks,\nagainst an opening 2.9540/75 and yesterday's 2.9490/530.\n Traders said there was little hope that the Western\nfinanciers will be able to find a lasting solution to the\nproblem of currency instability during the current series of\ntalks in Washington.\n These are scheduled to start today with an informal Group\nof Five (G-5) session.\n Tomorrow's Group of Seven meeting - of the U.S., Japan,\nWest Germany, France, the U.K., Italy and Canada - is seen as\nthe key meeting.\n Traders said few operators will be prepared to open\npositions ahead of news emerging from the talks.\n However, some traders said that, given the low level of\nexpectations, the market could be particularly susceptible to\nsigns of accord between the U.S. And Japan, which would give\nthe dollar a sharp upward push.\n They said interest is still largely centred on the yen,\nwith any fresh dollar weakness expected to show in that market\nfirst.\n Meanwhile, today's comments from U.S. Federal Reserve Board\nChairman Paul Volcker failed to have a lasting impact on the\nmarket. His statement that a further sizeable dollar fall could\nbe counter-productive aided a brief run-up in mid-afternoon,\nbut there was little followthrough, traders said.\n The dollar finished at 145.25/35 yen, up from an opening\n145.05/15 but below yesterday's European close of 146.00/10.\n It ended at 1.5120/30 Swiss francs, against the start of\n1.5130/40 and previous final 1.5180/90, and at 6.0650/700\nFrench francs, after beginning at 6.0525/75 and ending\nyesterday at 6.0660/710.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:37:48.10",
"id": "14357"
},
{
"title": "U.S. GOLD FUTURES HOLD PARED GAINS AT MIDSESSION",
"body": "Comex gold futures held pared gains at\nmidsession after the metal repeatedly stalled in the face of\ntrade selling resistance, analysts said.\n They attributed gold's modest price rise to a buoyant\nsilver market. Professional traders and investors again bought\nsilver on speculation it would soon hit seven dlrs an ounce.\n The pacesetting June gold delivery traded at 423.60 dlrs an\nounce, up one dlr but below a session high of 425.20 dlrs.\nOther contracts were 80 cts to 1.50 dlrs firmer.\n Trading was thin as participants closely watched the\nforeign exchange and U.S. stock markets, brokers said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:38:05.43",
"id": "14358"
},
{
"title": "DALTEX <DLTX> ASSIGNED PATENT FOR SKIN THERAPY",
"body": "Daltex Medical Sciences Inc said a\nnon-toxic, oral drug to treat skin disorders, such as redness,\nscattered pimples, yellow and wrinkling associated with aging,\nhas been filed by the inventors and assigned to the company.\n The inventors are Dr. Albert M. Kligman and Dr. Gerd\nPlewig. Kligman, a University of Pennsylvania dermatologist,\ndiscovered the use of retinoic acid for treating acne.\n Daltex said initial tests of the drug, a retinoid compound,\nhave proved effective in treating \"problem\" skin most often\nfound in those over 50 and in those whose skin problems have\nbeen aggravated by excessive sun exposure.\n In a Daltex statement, Dr Kligman said that daily doses of\nthe drug can \"moderate or reverse\" a number of skin problems\nwithout the side effects typically associated with retinoid\ncompounds.\n He said more than 100 men and women in the U.S. and Germany\nhave been treated for six months to two years with the drug,\nand said studies indicate that its therapeutic effect can be\nmaintained if patients take maintenance doses two or three\ntimes a week.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:38:30.13",
"places": [
"usa"
],
"id": "14359"
},
{
"title": "GRAIN SHIPS WAITING AT NEW ORLEANS",
"body": "Nine grain ships were loading and 16\nwere waiting to load at New Orleans elevators, trade sources\nsaid.\n ELEVATOR LOADING WAITING\n Continental Grain, Westwego 1 5\n Mississippi River, Myrtle Grove 1 0\n ADM Growmark 1 2\n Bunge Grain, Destrehan 1 0\n ELEVATOR LOADING WAITING\n ST CHARLES DESTREHAN 1 1\n RESERVE ELEVATOR CORP 1 0\n PEAVEY CO, ST ELMO 1 1\n CARGILL GRAIN, TERRE HAUTE 1 4\n CARGILL GRAIN, PORT ALLEN 0 0\n ZEN-NOH 1 3\n reuter\n\u0003",
"date": " 7-APR-1987 12:38:44.17",
"topics": [
"grain",
"ship"
],
"places": [
"usa"
],
"id": "14360"
},
{
"title": "CBT SOYPRODUCT FUTURES HIGHER AT MIDSESSION",
"body": "CBT soyproduct futures continued to\ntrade higher in light midsession trade, with deferred months up\nmost, supported by the strong tone in the nearby soybean pit,\ntraders said.\n Soymeal held gains of 0.70 dlr to 2.00 dlrs per tonne, with\nsteadiness in Rotterdam meals and U.S. cash soymeal basis\nvalues this morning, plus trade-talk of additional processor\ndown-time in the U.S over the next few weeks, adding to the\npositive tone in meal futures, they said.\n Merrill Lynch and E.F. Hutton were the featured outright\nbuyers of May soymeal, with Cargill spreading May/July at 0.20\ndlr premium May, pit brokers said.\n Soyoil futures were up 0.11 to 0.15 cent per lb, supported\nby steady commercial buying.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:39:26.48",
"id": "14361"
},
{
"title": "CASH WHOLESALE BEEF PRICES",
"body": "NOON CDT APRIL 7\n CENTS PER LB CHANGE\n CHOICE STEERS\n YIELD GRADE 3\n 600/700 unquoted\n 700/800 unquoted\n 800/900 unquoted\n CHOICE HEIFERS\n 500/550 87-88 unch to off 1\n 550/700 unquoted\n Reuter\n\u0003",
"date": " 7-APR-1987 12:39:50.42",
"id": "14362"
},
{
"date": " 7-APR-1987 12:40:05.50",
"id": "14363"
},
{
"title": "LME ZINC CLOSES STEADY AT LOWER LEVELS",
"body": "LME zinc after lunch held steady around\nlower morning levels as some light buying emerged around the\n730 dlrs equivalent level, dealers said. This saw three months\ndelivery end afternoon ring dealings at 456 stg, down one stg a\ntonne from yesterday afternoon's kerb close, and the dollar\nequivalent ended around 733 dlrs, down one.\n In the morning, light trade selling in a thin market had\ntaken three months down to 730 but failed to attract any follow\nthrough selling.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:40:32.18",
"id": "14364"
},
{
"date": " 7-APR-1987 12:41:27.58",
"id": "14365"
},
{
"title": "U.S. SAYS NO PACT ON RELIEF FOR POOREST STATES",
"body": "Industrial countries do not agree on\nways to provide debt relief for the world's poorest nations, a\nsenior U.S. Treasury official said.\n A senior U.S. Treasury official said, \"There has not been a\nconsensus reached yet,\" when asked about reports the Paris club\nof western creditors had agreed to long-term stretch outs of\nAfrican debt at concessional interest rates.\n The official, briefing reporters on this week's semiannual\nIMF meetings, said the issue would be discussed this week and\nthe U.S. had an open mind on the proposal but it did object to\nconcessional interest rate relief.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:41:54.81",
"places": [
"usa"
],
"id": "14366"
},
{
"title": "BIFFEX FALLS FURTHER BY CLOSE",
"body": "Dry cargo futures on BIFFEX extended\nearly losses during the afternoon session to close 30 to 52\npoints lower because of uncertainty as to where the physical\nmarket will go in the near term, dealers said.\n Initial panic profit-taking snowballed and triggered\nfurther sell stops. A 2.5 point fall in the Baltic Freight\nIndex to 1030.5 further dampened sentiment after its strong\nadvance over the past week, they added.\n Rumours of lower rates circulated the market this\nafternoon, but some dealers said easier fixtures talked of\ntoday involved older tonnage and may not be representive of\ncurrent conditions.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:42:03.69",
"id": "14367"
},
{
"title": "MIDWEST GRAIN FUTURES 12:40 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 284 3/4 UP 1 1/4\n JUL7 281 3/4 UP 1\n SEP7 277 1/2 UP 1 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 12:42:10.61",
"id": "14368"
},
{
"title": "WEST FARGO CATTLE UP 2.00 DLRS - USDA",
"body": "slaughter cattle rose 2.00 dlrs, the\nusda said.\n steers - choice 2-4 1030-1360 lbs 63.75-65.50.\n heifers - choice 2-4 976-1325 lbs 61.00-63.50.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:42:15.29",
"id": "14369"
},
{
"title": "CASH WHOLESALE PORK PRICES",
"body": "NOON CDT APRIL 7\n CENTS PER LB CHANGE\n BELLIES\n 12-14 60 unch\n 14-16 60 unch\n 16-18 57 unch\n HAMS\n 14-17 unquoted\n 17-20 73-73-1/2 off 10-1/2 to 11\n LOINS\n 14-18 98-100 unch to up 2\n 18-22 100 up 4\n Reuter\n\u0003",
"date": " 7-APR-1987 12:42:25.37",
"id": "14370"
},
{
"title": "CASH GRAIN SORGHUM PRICES",
"body": "The following cash sorghum prices\nwere reported by trade sources this morning in dlrs per cwt-\n LOCATION TODAY PREVIOUS\n Delivered\n W COAST 4.50-4.55 4.48-4.53 \n GULF 3.23-3.28 3.27-3.32 \n FOB Country Points\n WEST TEXAS 3.20 3.20 \n TEXAS PANHANDLE 3.05 3.05 \n Reuter\n\u0003",
"date": " 7-APR-1987 12:42:32.99",
"id": "14371"
},
{
"title": "COCOA/COFFEE/SUGAR TRADE NEWS/MARKET COMMENT",
"body": "West African\norigins believed near market, especially Ivory and Ghana. Ivory\nreported traded yesterday around 1,325 French Francs per 100\nkilos cif for new crop while Ghana was offering at 1,460 stg a\ntonne cif, also for new crop... Offtake small, restricted to\ndealer book-squaring ahead of buffer stock buying which\npossibly next week, some say... Ghana resale June/Aug 60 stg\nover Sep.\n Cocoa comment/market talk - Terminal on defensive on firm\nsterling and overhanging West African new crop offers, but\nprospective buffer stock buying and lower Bahia Temperao crop\n(possibly down to 1.5 mln bags from 2.0/2.5 mln) constructive.\n Sugar physical trade - Malta tendering for 3,000 tonnes\nwhites today for arrival in two equal parts in May and June. No\nnews by late afternoon... India in tomorrow for one/two cargoes\nwhites with Syria tendering same day for 36,000 tonnes whites\nfor June/July/Aug shipment... EC export tender tomorrow but\nafter last week's heavy authorised exports (102,350 tonnes) at\nthe highest ever-rebate of 46.864 Ecus per 100 kilos, and with\nmove to intervention of near 800,000 tonnes, tomorrow's result\nis anybody's guess, traders said... Pakistan tendering\nSaturday.\n Sugar comment/market talk - Afternoon terminal rally after\nfall which had been linked to lack of Soviet/Chinese offtake.\n Coffee physical market - Origin offers scarce and roaster\ndemand quieted down... Roasters may be adequately covered for\ntime being after Brazilian, Colombian and Mexican sales over\nthe past week.\n Coffee market talk and comment - Futures quietly firmer,\nbut trade featureless. Prices seem to be consolidating at\ncurrent levels following recent declines, but will need further\nsigns of demand to sustain support, dealers said... With Brazil\nMay registrations out of the way, market is awaiting fresh\nfundamental news to provide direction.\n REUTER\n\u0003",
"date": " 7-APR-1987 12:42:50.60",
"id": "14372"
},
{
"date": " 7-APR-1987 12:43:03.07",
"id": "14373"
},
{
"title": "N.Y. PLATINUM FUTURES HIGHER AT MIDSESSION",
"body": "Platinum futures were higher at\nmidsession as the precious metal continued to mirror the action\nin the nearby silver pit, analysts said.\n Silver was trading in the upper end of the day's wide\nrange, bolstered by speculative buying on a belief that it\nwould continue to rise toward seven dlrs an ounce basis May.\n The key July platinum delivery traded at 571.50 dlrs an\nounce, up 2.90 dlrs but under a session high of 577.50 dlrs.\nOther months were 3.70 to 7.30 dlrs higher.\n However, trading was thin as many participants watched the\nforeign exchange and U.S. stock and bond markets.\n Meanwhile, palladium was up 70 cts to 2.20 dlrs in\nsympathetic buying to platinum.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:43:12.29",
"id": "14374"
},
{
"title": "BOESKY AIDE AGREES TO STOCK TRADING PENALTIES",
"body": "Michael Davidoff, head trader for\nIvan Boesky's Seemala Corp, consented to Securities and\nExchange Commission penalities and agreed to help in its\ncontinuing investigation of insider trading, the SEC said.\n Davidoff recently pleaded guilty in federal court to\nviolating the net capital requirements governing brokers and\ntraders.\n The SEC had filed similar charges and it said Davidoff had\nconsented to a final judgement enjoing him from future stock\ntrading violations.\n The SEC said Davidoff consented to its order without\nadmitting or denying the allegations that he aided and abetted\nviolations by a broker and dealer.\n It also said Davidoff consented to a planned SEC order to\nbar him from future securities dealings.\n reuter\n\u0003",
"date": " 7-APR-1987 12:44:00.11",
"places": [
"usa"
],
"id": "14375"
},
{
"title": "GENERAL PARTNERS IS TERMINATING OFFER FOR GENCORP INC\n",
"date": " 7-APR-1987 12:44:15.68",
"topics": [
"acq"
],
"id": "14376"
},
{
"date": " 7-APR-1987 12:45:34.95",
"id": "14377"
},
{
"title": "TX/W OKLA FEEDLOT CATTLE STDY/UP 0.50 DLR-USDA",
"body": "slaughter steers were firm and heifers\nsteady to 0.50 dlr higher in slow trade, the usda said.\n Feedlots reported fairly good interest and inquiry from\nbuying sources.\n Sales on 3,600 steers and 700 heifers. week to date 43,900\nhead.\n steers - good and mostly choice 2-3 1025-1150 lbs\n69.50-70.00.\n heifers - few pens good and mostly choice 2-3 925-1025 lbs\n68.00-68.50.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:45:44.07",
"id": "14378"
},
{
"date": " 7-APR-1987 12:45:49.87",
"id": "14379"
},
{
"title": "MIYAZAWA LEAVES HOTEL FOR MEETING WITH BAKER AT TREASURY, JAPANESE OFFICIALS SAY\n",
"date": " 7-APR-1987 12:46:23.95",
"places": [
"japan"
],
"id": "14380"
},
{
"date": " 7-APR-1987 12:46:43.83",
"id": "14381"
},
{
"date": " 7-APR-1987 12:47:13.49",
"id": "14382"
},
{
"date": " 7-APR-1987 12:47:24.54",
"id": "14383"
},
{
"date": " 7-APR-1987 12:47:30.18",
"id": "14384"
},
{
"title": "U.S. LIVESTOCK STRESSED BY WEATHER--USDA/NOAA",
"body": "Snow and freezing temperatures\nstressed livestock in the eastern half of the United States in\nthe week ended April 5, the Joint Agricultural Weather Facility\nof the U.S. Agriculture and Commerce Departments said.\n In a summary of its weekly Weather and Crop Bulletin, the\nagency said most Nebraska and Kansas livestock are fair as calf\nlosses from the storm during the week were variable.\n Calving and lambing continued.\n Freezing temperatures slowed pasture growth in most areas,\nthe agency said.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:47:54.65",
"places": [
"usa"
],
"id": "14385"
},
{
"date": " 7-APR-1987 12:48:47.10",
"id": "14386"
},
{
"date": " 7-APR-1987 12:48:52.02",
"id": "14387"
},
{
"title": "BURLINGTON NORTHERN INC 1ST QTR SHR PROFIT 93 CTS VS LOSS 3.55 DLRS\n",
"date": " 7-APR-1987 12:50:36.49",
"topics": [
"earn"
],
"id": "14388"
},
{
"title": "IOWA GRAIN ELEVATOR EXPLODES, BURNS",
"body": "An explosion and fire today\ndamaged a grain elevator in Bancroft, Iowa, destroying\nthousands of bushels of grain, authorities said.\n The pre-dawn explosion ripped the wooden elevator open, and\na fire that followed continued burning at late morning but had\nbeen contained, according to a dispatcher at the Algona Police\nDepartment.\n No injuries were reported at the Lone Rock Coop facility.\n The dispatcher said the elevator was filled with corn, and\na nearby drying building holding soybeans was on fire.\n The explosion was the second in four days in Iowa following\nthe destruction of an Archer Daniels Midland elevator in\nBurlington last Friday.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:51:12.66",
"topics": [
"grain"
],
"places": [
"usa"
],
"id": "14389"
},
{
"title": "U.S. CREDIT MARKETS MIXED AT MIDSESSION",
"body": "U.S. credit markets were mixed in dull\ntrading at midsession, with moderate losses in coupon issues\nand Treasury bill rates near unchanged.\n Bills improved slightly on remarks from Federal Reserve\nchairman Paul Volcker that a restrictive monetary policy would\nbe damaging to investment and that last week's increases in\nU.S. banks' prime lending rates to 7.75 pct from 7.50 pct was\nnot connected with Fed policy, dealers said.\n Coupon issues were 1/32 to 5/16 lower, pressured by a weak\ndollar. Treasury bill rates were anywhere from three basis\npoints lower to one basis point higher.\n The key 7-1/2 pct Treasury bond was 5/16 lower at 95-26/32\nto yield 7.87 pct compared with 7.84 pct at yesterday's close.\n Dealers said remarks from Federal Reserve Chairman Paul\nVolcker indicating that exchange rates had adjusted enough to\nnarrow the U.S. trade deficit and warning that a further,\nsizable dollar fall could be counterproductive had little\nexchange rate impact as they were seen as a reiteration of his\nviews.\n In any case, they said the dollar is expected to be under\npressure while monetary officials of leading industrial nations\nmeet this week in Washington, which may hurt bonds.\n Dealers said three-month bill rates had eased early in the\nsession on a few sizable buy orders from retail accounts, but\nthat otherwise there was little activity in this sector.\n \"When Volcker hit the tape it helped bills, because it\nmakes people think the Fed is not going to tighten,\" a bill\ntrader said. \"But it's a nervous trade, with no real buyers.\"\n Three-month bills were bid at 5.50 pct, three basis points\nbelow their price at yesterday's auction, while six-month bills\nrose one basis point from their auction price to 5.64 pct bid.\n Year bills rose one basis points to 5.74 pct bid.\n Most economists expected the Federal Reserve to supply\ntemporary reserves, but most had forecasted an indirect\ninjection via customer repurchase agreements rather than a\ndirect injection via two-day system repurchases which the Fed\nconducted at its usual intervention time.\n The Fed intervened when Federal funds were trading at 6-1/8\npct. Funds opened at this level and remained there at midday,\ndown from yesterday's 6.20 pct avearge.\n The 6-3/8 pct two-year notes fell 1/32 to 99-21/32 at\nmidday and the 7-1/4 pct 10-years dropped 9/32 to 97-27/32.\n Reuter\n\u0003",
"date": " 7-APR-1987 12:52:08.01",
"id": "14390"
},
{
"date": " 7-APR-1987 12:52:12.67",
"id": "14391"
},
{
"title": "MIDWEST GRAIN FUTURES 12:50 EDT",
"body": "MINNEAPOLIS WHEAT\n MAY7 284 3/4 UP 1 1/4\n JUL7 281 1/2 UP 3/4\n SEP7 277 1/2 UP 1 1/2\n DEC7 -- --\n MAR8 -- --\n\u0003",
"date": " 7-APR-1987 12:52:17.94",
"id": "14392"
},
{
"title": "ARTISTIC GREETINGS <ARTG> SEES RECOVERY IN NET",
"body": "Artistic Greetings Inc said it\nexpects a rebound in profits and an increase in sales in 1987\nas costs connected with computerization, staffing, traning and\ncatalog sales start to taper off.\n Today it reported 1986 earnings of 294,650 dlrs, down from\n371,064 dlrs a year before, on revenues of 8,157,864 dlrs, up\nfrom 7,054,709 dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:54:43.96",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14393"
},
{
"title": "PARTNERSHIP BUYS 5.1 PCT ORANGE-CO <OJ> STAKE",
"body": "Parsow Partnership Ltd, an Elkhorn,\nNeb., investment partnership, said it bought a 5.1 pct stake in\nOrange-Co Inc common stock as an investment.\n In a filing with the Securities and Exchange Commission,\nParsow said it had bought all its 220,000 Orange-Co shares in\nthe open market with funds from its working capital.\n The partnership, whose sole general partner is Elkhorn\ninvestor Alan Parsow, said it \"has no present intention of\neffecting any change in the control of Orange-Co Inc.\"\n Reuter\n\u0003",
"date": " 7-APR-1987 14:54:55.64",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14394"
},
{
"title": "COOPERATIVE ENERGY TESTS OIL AT TWO WELLS",
"body": "<Cooperative Energy Development\nCorp> said two exploratory oil wells in the Zama area of\nAlberta tested 1,020 and 950 barrels a day, and will increase\nthe company's daily oil production by 30 pct.\n The company did not immediately elaborate on total\nproduction figures.\n The wells, flowing oil from the Keg River formation, will\nbe constrained to combined production of about 450 barrels a\nday to optimize reserve recovery, the company said.\n Permanent production facilities are being installed and the\nwells will produce to pipeline by mid-April.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:55:04.22",
"topics": [
"crude"
],
"places": [
"canada"
],
"id": "14395"
},
{
"date": " 7-APR-1987 14:55:07.49",
"id": "14396"
},
{
"title": "AVINDA DEBENTURES CONVERTED TO COMMON SHARES",
"body": "<Avinda Video Inc> said its debenture\nholders agreed to convert 3.3 mln dlrs of 13 pct subordinated\ndebentures to common stock at a conversion price of 40 cts a\nshare, subject to shareholder and regulatory approval.\n Avinda said the debt conversion will inject 3,140,000 dlrs\nof equity into the company, increase net book value per share\nto 22 cts from five cts, and reduce annual interest costs by\n428,000 dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:55:15.76",
"places": [
"canada"
],
"id": "14397"
},
{
"title": "COMEX COPPER FUTURES DROP LATE, SETTLE LOWER",
"body": "Comex copper futures settled weaker\nafter dropping to new session lows on trade selling, which\nentered a few minutes before the close, brokers said.\n May delivery slipped to 62.05 cents before settling at\n62.30 cents a lb, off 0.35 cent.\n May's high was its opening price of 62.85 cents.\n Indications that commission house selling would enter above\nthat level kept a lid on the market, brokers said. Otherwise,\ndealings were featureless, they said.\n The May/July backwardation settled at 25 points versus 30\npoints yesterday.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:55:38.46",
"id": "14398"
},
{
"title": "MAY<MA> NAMES CHAIRMAN FOR L.S. AYRES DIVISION",
"body": "May Department Stores Co said it named\nRonald Tanler as chairman of the company's L.S. Ayres\ndepartment store division based in Indianapolis, filling a\nlong-time vacancy.\n It said Robert Friedman continues as president and chief\nexecutive officer of L.S. Ayres.\n Tanler had served the company as senior vice president and\nchief financial officer of its St. Louis-based Famous-Barr\ndepartment store division.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:55:44.93",
"places": [
"usa"
],
"id": "14399"
},
{
"date": " 7-APR-1987 14:55:47.99",
"id": "14400"
},
{
"title": "DOW <DOW> UNIT GETS FDA REVERSE OSMOSIS PERMIT",
"body": "FilmTec Corp, a subsidiary of Dow\nChemical Co, said the Food and Drug Administration willpermit\nthe FilmTec FT30 reverse osmosis membrane to be used in food\nprocessing and purifying water for food applications.\n The company said the development opens \"a potentially huge\nmarket for FilmTec.\" It said food processors will be able to\nconcentrate juice and other food streams with reverse osmosis\nrather than with evaporation techniques.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:55:54.99",
"places": [
"usa"
],
"id": "14401"
},
{
"title": "CUMMINS ENGINE CO INC <CUM> SETS PAYOUT",
"body": "Qtly div 55 cts vs 55 cts prior\n Pay June 15\n Record June 1\n Reuter\n\u0003",
"date": " 7-APR-1987 14:56:05.44",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14402"
},
{
"title": "LIVE HOG FUTURES TRIM SHARP GAINS AT CLOSE",
"body": "Live Hog futures ran up for sharp gains\nafter midsession before slipping late to close 0.82 cent higher\nto 0.02 lower. Only February posted a loss while April and June\npaced the gain and April ended at 50.65 cents.\n Futures ran up early as demand prompted by strong live\nmarkets, light hog runs and the discount of futures to cash\nsparked technical buying. April ran up as much as 1.42 cents\nabove its previous level before profit-taking developed,\ntraders said.\n Gains in cash hogs reflected reduced farmer marketings as \nthey took to the fields for the start of spring activities. The\nstrength in live also offset a sharp break in cash ham prices.\nThe break in hams was expected as Easter buying came to an end,\nthey added.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:56:42.03",
"id": "14403"
},
{
"title": "CBT SOYBEAN FUTURES CLOSE STRONG IN NEW CROP",
"body": "CBT soybean futures closed on a strong\nnote in new crop, showing gains of 4-3/4 to 9-1/4 cents per\nbushel in moderate trade. May settled at 5.04-1/2 dlrs after\nposting a 5-1/2 cent range, with November at 5.04-3/4.\n Slow country movement, steady to firmer cash soybean basis\nvalues and a delayed Brazilian harvest combined to support\nfutures from the opening, despite a disappointing drop in the\nweekly soybean export figure yesterday, traders said.\n The advance above the psychologically important 5.00 dlr\nmark in both old and new crop kept the chart picture bullish,\nwhich could limit declines when South American sales begin to\npick up later this month, they added.\n A local house steadily bought new crop November, with\nanother local house spreading July/Nov, pit brokers said.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:58:55.24",
"id": "14404"
},
{
"date": " 7-APR-1987 14:59:03.38",
"id": "14405"
},
{
"title": "PHILADELPHIA ELECTRIC <PE> REPLACES ENGINEER",
"body": "Philadelphia Electric Co said the\nOperations Engineer at its Peach Bottom Atomic Power Station\nhas been replaced with another nuclear experienced, qualified\nengineer holding a senior operator license at Peach Bottom.\n Early last week, the staff of the Nuclear Regulatory\nCommission ordered that unit three of the nuclear power plant\nbe shutdown after determining that operators were sleeping on\nduty.\n In a letter to the commission detailing actions taken as a\nresult of that order, the utility said the Operations Engineer\nhad been reassigned to corporate headquarters on April 6.\n Releasing its letter to the NRC, Philadelphia Electric said\nit \"will have no future comment on this response pending\nNuclear Regulatory Commission disposition\" of the case.\n Effective April 11, the utility said, it is establishing\n24-hour coverage of operations by at least one independent,\nnuclear experienced engineer or physicist per shift posted\nwithin the control room complex who will report directly to the\ncompany's Superintendent of Nuclear Operations Quality\nAssurance Division at corporate headquarters.\n Immediately after receipt of the NRC order, Philadelphia\nElectric said, Senior Plant Management began making unannounced\ncontrol room visits during the night shift, adding this\nactivity will continue until the planned additional 24-hour\ncoverage operations are in place.\n Reuter\n\u0003",
"date": " 7-APR-1987 14:59:12.24",
"places": [
"usa"
],
"id": "14406"
},
{
"date": " 7-APR-1987 14:59:38.24",
"id": "14407"
},
{
"title": "KANSAS CITY WHEAT LOSES EARLY GAINS, ENDS LOWER",
"body": "Hard wheat futures closed 1-1/4 to\n1/2 cents lower in light trading as exporter selling erased\nearly gains to close the market near session lows, traders\nsaid. May closed 1-1/4 cents lower at 2.72-3/4 dlrs.\n Prices opened steady to higher on some follow-through\nbuying from yesterday and hopes for new export sales in tenders\nscheduled this week. But selling by a major exporter brought\nprices off their highs, and the lack of strong buying interest\nreversed those gains.\n Volume remained generally thin with little other fresh news\nin the market. Cargill sold 1.0 mln bushels of May, and Staley\nbought May and July, pit brokers said. Some intra-market\nspreading was noted with players on both sides of July/December\nat 7-1/2 cents, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:00:07.66",
"id": "14408"
},
{
"date": " 7-APR-1987 15:00:17.42",
"id": "14409"
},
{
"title": "MOODY'S DOWNGRADES 1.8 BILLION DLRS OF DEERE, RELATED DEBT\n",
"date": " 7-APR-1987 15:00:24.87",
"id": "14410"
},
{
"date": " 7-APR-1987 15:01:00.49",
"id": "14411"
},
{
"title": "CANADA LAWMAKERS URGE EXEMPTION FROM U.S. BILL",
"body": "Lawmakers from Ontario asked their\nU.S. counterparts to exempt Canada from the mandatory trade\nretaliation provisions in a major trade bill being considered\nby the U.S. Congress.\n At a meeting of the Northeast-Midwest Coalition, an\norganization of U.S. legislators, David Cooke, chairman of the\nOntario Parliament's Select Committee on Economic Affairs, said\nthe exemption would help trade relations.\n The trade legislation to be considered by the full House in\nlate April would require President Reagan to retaliate against\nforeign unfair trade practices unless the trade actions would\nharm the U.S. economy.\n Currently, Reagan can reject trade sanctions on any\ngrounds.\n Cooke, a member of the Liberal party, told the U.S.\ncongressmen, \"I can understand (the trade bill). I think it has\nto do with concerns you have with the other parts of the world.\"\n \"I would suggest to you that we are your best friends. You\ndo not have those concerns with Canada and you should sincerely\nconsider exempting our country from that bill,\" he added.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:01:37.44",
"places": [
"usa",
"canada"
],
"id": "14412"
},
{
"date": " 7-APR-1987 15:01:43.71",
"id": "14413"
},
{
"date": " 7-APR-1987 15:01:58.89",
"id": "14414"
},
{
"date": " 7-APR-1987 15:02:12.44",
"id": "14415"
},
{
"date": " 7-APR-1987 15:02:33.91",
"id": "14416"
},
{
"title": "CENTRAL BANCSHARES <CBSS> 1ST QTR NET",
"body": "Shr 52 cts vs 45 cts\n Net 10.9 mln vs 9,498,000\n Assets 3.60 billion vs 3.25 billion\n Deposits 2.45 billion vs 2.23 billion\n Loans 2.16 billion vs 1.67 billion\n NOTE: full name of company is Central Bancshares of the\nSouth Inc.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:02:41.82",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14417"
},
{
"title": "U.S. CERTIFIED COFFEE STOCKS DOWN IN LATEST WEEK",
"body": "The amount of coffee stored in New York\nand New Orleans warehouses and certified for delivery against\nthe New York Coffee \"C\" futures totalled 585,555 bags as of\nApril 3, compared with 585,794 bags the previous week, a net\ndecrease of 239 bags, the New York Coffee, Sugar and Cocoa\nExchange said.\n The total comprised 392,845 bags in New York, an increase\nof 261 bags, and 192,710 bags in New Orleans, a drop of 500\nbags.\n The exchange said there were nil bags pending\nclassification. There were 56,578 bags pending certification,\nincluding 32,553 in New York and 24,025 in New Orleans, the\nexchange said.\n reuter\n\u0003",
"date": " 7-APR-1987 15:02:55.01",
"topics": [
"coffee"
],
"places": [
"usa"
],
"id": "14418"
},
{
"title": "REUTER WORLD NEWS HIGHLIGHTS 1800 GMT APRIL 7",
"body": "Scores of Syrian troops marched into the battered\nShatila Palestinian refugee camp in Beirut in a bid to quell\nfive months of fighting in Lebanon's \"camps war,\" witnesses said.\nBeirut radio stations said Syrian troops would deploy at points\naround the camp, besieged by Shi'ite Moslem Amal militia, to\nguarantee freedom of movement for refugees.\n - - - -\n WASHINGTON - President Reagan said neither the United\nStates nor the Soviet Union would occupy new embassies in each\nother's capitals until he was certain the new U.S. Building in\nMoscow was secure. He added a special review board headed by\nformer Defence Secretary Melvin Laird would examine serious\nsecurity breaches at the U.S. Diplomatic mission in Moscow.\n - - - -\n BAHRAIN - Iran reported launching a new offensive east of\nIraq's southern city of Basra, saying troops supported by\nplanes had killed over 2,400 Iraqis. Baghdad said its forces\nhad repulsed the attack, killing thousands of Iranians.\n - - - -\n ZEEBRUGGE, Belgium - A capsized British car ferry with up\nto 140 bodies entombed inside was winched upright in a mammoth\nsalvage operation.\n - - - -\n BONN - West German Chancellor Helmut Kohl told President\nRonald Reagan in a letter that Bonn backed a superpower pact to\nban medium-range missiles from Europe but was concerned about\nany parallel ban on shorter-range missiles.\n - - - -\n BRUSSELS - Syria, a key state in Middle East politics, is\nshowing flexibility towards the idea of an international\nconference on peace in the region, Belgian Foreign Minister Leo\nTindemans said after talks with King Hussein of Jordan.\n - - - -\n WASHINGTON - Kuwait has asked at least four countries,\nincluding the United States and Soviet Union, for use of their\nflags or tankers to protect oil shipments in the Gulf, U.S.\nOfficials said. Britain and China were also asked, they added.\n - - - -\n CHANDIGARH, India - Sikh extremists killed five people and\nset ablaze cigarette, liquor and barber shops in Punjab in a\nnew trial of strength with the state's moderate government over\nfundamentalist reforms.\n - - - -\n LONDON - Prospects for a June election in Britain rose\nafter senior members of Prime Minister Thatcher's Conservative\nparty urged her to go to the country a year early in the wake\nof more polls giving the party a commanding lead.\n - - - -\n ROME - Italy's government is expected to fall tomorrow\nfollowing a decision by the majority Christian Democrats to\nwithdraw their 16 ministers unless Socialist Prime Minister\nBettino Craxi resigns, political sources said.\n - - - -\n BAHIA BLANCA, Argentina - Pope John Paul began a swing\nthrough Argentina's rich agricultural interior with a strong\ndefence of the rights of rural workers, saying they had been\nneglected too long.\n - - - -\n ANKARA - A Turkish military court jailed former deputy\nprime minister Alpaslan Turkes for 11 years on charges of\nforming an armed gang and sentenced five supporters to death\nfor murder, Anatolian Agency reported.\n REUTER\n\u0003",
"date": " 7-APR-1987 15:03:32.33",
"id": "14419"
},
{
"date": " 7-APR-1987 15:03:40.78",
"id": "14420"
},
{
"date": " 7-APR-1987 15:03:50.68",
"id": "14421"
},
{
"date": " 7-APR-1987 15:04:00.30",
"id": "14422"
},
{
"title": "TEXTRON <TXT> PLANS SALE OF AVCO DIVISION",
"body": "Textron Inc said it plans to\nsell its Avco Specialty Materials Division as part of its debt\nreduction and restructuring.\n The company said it will use proceeds from the sale to\nreduce the debt incurred by its acquisition of Ex-Cell-O Corp\nlast year.\n Textron said Morgan Stanley and Co will represent it in the\nsale.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:04:07.52",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14423"
},
{
"date": " 7-APR-1987 15:04:19.11",
"id": "14424"
},
{
"date": " 7-APR-1987 15:04:41.74",
"id": "14425"
},
{
"title": "N.Y. PLATINUM FUTURES FINISH HIGHER",
"body": "Platinum futures finished higher as \nthe metal continued to follow the strong silver market,\nanalysts said.\n The key July platinum delivery settled at 572.20 dlrs an\nounce, up 3.60 dlrs but below a session high of 577.50 dlrs.\nOther months gained 3.70 to 4.60 dlrs.\n However, steady trade selling and skittish speculators kept\nplatinum well below session highs. \"Most metals players are in\nthe silver pit, not here,\" said one floor analyst.\n Meanwhile, palladium ended 25 to 50 cts firmer, but also\nunder the day's highs, in sympathy.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:04:52.87",
"id": "14426"
},
{
"title": "GREEN TREE ACCEPTANCE INC <GNT> 1ST QTR NET",
"body": "Shr 50 cts vs 40 cts\n Net 9,421,000 vs 9,312,000\n Rev 37.7 mln vs 36.3 mln\n Avg shrs 17,049,920 vs 21,173,570\n NOTE: Per-share results adjusted for two-for-one common\nstock split in June 1986\n Reuter\n\u0003",
"date": " 7-APR-1987 15:05:00.69",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14427"
},
{
"date": " 7-APR-1987 15:05:07.42",
"id": "14428"
},
{
"date": " 7-APR-1987 15:05:20.45",
"id": "14429"
},
{
"date": " 7-APR-1987 15:07:06.46",
"id": "14430"
},
{
"date": " 7-APR-1987 15:07:36.91",
"id": "14431"
},
{
"title": "MINNEAPOLIS WHEAT PROTEIN SCALES",
"body": "CTS/BU BASIS MPLS may\n SPRING WHEAT\n ORD 17un unch \n 11.00 12un unch \n 12.00 3p up 5 \n 13.00 11p unch \n 14.00 38p unch \n 15.00 90p unch \n 16.00 130p unch \n 17.00 135pn unch \n NC-NO COMPARISON unch-UNCHANGED dn-DOWN P-PLUS U-UNDER N-NOML\n CTS BU BASIS MPLS may \n WINTER WHEAT\n MPLS/S. DAKOTA N. DAKOTA/MONTANA\n ORD 18un unch 18un unch \n 10.00 15un unch 15un unch \n 11.00 3un dn 2 optn dn 2 \n 12.00 3p dn 2 6p dn 2 \n 13.00 18p unch 10p unch \n 14.00 38pn unch 38pn unch \n 15.00 75pn unch 75pn unch \n 16.00 89pn unch 89pn unch \n NC-NO COMPARISON unch-UNCHANGED dn-DOWN P-PLUS U-UNDER N-NOML\n Reuter\n\u0003",
"date": " 7-APR-1987 15:08:35.98",
"id": "14432"
},
{
"date": " 7-APR-1987 15:08:46.63",
"id": "14433"
},
{
"title": "U.S. IMMIGRATION RULES SPARK CONGRESS OBJECTIONS",
"body": "New immigration rules relating to\nalien farm workers and reportedly being drafted by the U.S.\nAgriculture Department are meeting with objections in Congress,\nsources on Capitol Hill said.\n USDA is drafting regulations, required by a 1986 law, that\nwould offer amnesty to illegal aliens if they worked in the\ncultivation of fruits, vegetables and other perishable\ncommodities.\n The department is considering including in its definition\nof perishable commodities such farm products as tobacco, hops,\nSpanish reeds and Christmas trees, while excluding sugar cane,\nthe New York Times reported yesterday.\n Rep. Howard Berman, D-Calif., would like to see the\ndefinition extended to include sugar cane, cultivation of which\nis \"a breeding ground for one of the scandals of the nation,\"\nGene Smith, a spokesman for Berman, said.\n Livestock, dairy and poultry producers have been lobbying\nUSDA hard to have their products covered by the amnesty\nprovision, farm industry sources said.\n Chuck Fields of the American Farm Bureau Federation said\nlivestock producers were \"desperate\" because they fear they will\nbe unable to retain the many illegal aliens who have joined\nthat industry.\n A House staff member involved in drafting the landmark 1986\nimmigration law who asked not to be identified said Congress\ndid not mean to extend special amnesty provisions to workers\nwho helped cultivate tobacco, and that inclusion of hops and\nSpanish reeds was \"marginal.\"\n In addition, lawmakers made it clear during consideration\nof the bill that lumber workers were not to be covered by the\nthe amnesty provisions, making the inclusion of Christmas trees\n\"a tough call,\" this source said.\n USDA officials declined to comment on the draft regulation\nexcept to say it was subject to change before it will be\nreleased, probably some time later this month.\n While lawmakers may object to the USDA rule under\nconsideration relating to perishable commodities, Congress is\nnot likely to reopen debate on the controversial immigration\nquestion, congressional sources said.\n The amnesty provision specially designed for farm workers\nwas crucial to passage of the overall immigration bill.\n Congressional staff members estimate the special farm\nworker amnesty provision would apply to between 250,000 to\n350,000 aliens. The law would allow eligible farm workers who\nworked for 90 days during the year ending May 1, 1986, to apply\nfor temporary, then permanent, resident status.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:09:17.15",
"topics": [
"sugar",
"livestock"
],
"places": [
"usa"
],
"id": "14434"
},
{
"title": "JAMESWAY <JMY> SEES YEAR SALES AT 700 MLN DLRS",
"body": "Jamesway Corp president Arlie\nLazarus, said the sales for the fiscal year ending January 30,\n1988, would reach approximately 700 mln dlrs.\n Jamesway recorded sales for the fiscal year ending January\n31, 1987, of 612.4 mln dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:09:35.94",
"places": [
"usa"
],
"id": "14435"
},
{
"title": "BANK SEES STRONG DEMAND FOR BTP PRIVATISATION OFFER",
"body": "The French government's privatisation\noffer of <Banque du Batiment et des Travaux Publics> (BTP) is\nattracting strong demand, a spokesman for the government's\nadviser for the offer, <Credit Industriel et Commercial> said.\n A CIC spokesman said demand for the BTP offer today and\nyesterday was similar to demand on the first two days of the\nshare offer for another recently privatised bank, <Sogenal>,\nwhich closed 46 times oversubscribed.\n He recalled the Sogenal offer over two weeks last month was\nfor 4.95 mln shares, compared to the offer of 1.07 mln shares\nin BTP, which closes on Friday after opening on Monday.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:10:58.95",
"places": [
"france"
],
"id": "14436"
},
{
"title": "CHICAGO BOARD OF TRADE DELIVERABLE GRAIN STOCKS",
"body": "as of Friday, April 3 , 1986.\n WHEAT - 2,602,000 bushels including 1,647,000 in CHICAGO\nand 955,000 in TOLEDO.\n CORN - 26,620,000 bushels including 11,502,000 in CHICAGO,\n14,478,000 in TOLEDO and 640,000 in ST LOUIS.\n SOYBEANS - 1,879,000 bushels including 254,000 in CHICAGO\nand 1,625,000 in TOLEDO.\n OATS - 871,000 bushels including zero in CHICAGO and \n871,000 in MINNEAPOLIS.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:11:06.75",
"id": "14437"
},
{
"date": " 7-APR-1987 15:11:43.40",
"id": "14438"
},
{
"date": " 7-APR-1987 15:12:14.61",
"id": "14439"
},
{
"title": "CUBA CRUDE SUGAR HARVEST FAR BEHIND SCHEDULE",
"body": "Cuban president Fidel Castro told a\nCongress of the Union of Young Communists here that the\nproduction of crude sugar during the harvest still in progress\nis 800,000 tonnes behind schedule.\n In a speech Sunday, published in today's official paper\nGRANMA, Castro said unseasonable rains since January seriously\ninterrupted harvesting and milling operations especially in the\ncentral and western parts of the island.\n The Cuban leader said the mechanical cane harvesters\nscheduled to cut over 60 pct of the cane this year were\nparticularly \"vulnerable,\" as muddy fields prevent operations.\n Neither Castro nor the Cuban press have given out figures\nto estimate tonnes of crude production during the present\nharvest or the goals for the sugar campaign.\n However, a cuban sugar official told Reuters that the\ncountry will be lucky if crude output reaches last year's 7.2\nmln tonnes. Output of crude for the previous 1984-85 harvest\nwas 8.2 mln tonnes.\n The harvest was scheduled to end April 30 but due to the\npresent shortfalls it will be extended into May and June, the\nofficial said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:12:30.22",
"topics": [
"sugar"
],
"places": [
"cuba"
],
"id": "14440"
},
{
"title": "ATT <T> GETS GEORGIA RATE REDUCTION APPROVAL",
"body": "American Telephone and Telegraph Co said\nthe Georgia Public Service Commission (PSC) approved its 4.1\nmln dlr rate restructuring proposal to reduce intrastate long\ndistance rates by about 4.4 pct.\n ATT said it will file new prices at the PSC in August to\nmeet a Sept. 1 effective date set by the commission.\n The telephone company said it asked the PSC on Nov. 7 for\npermission to increase its prices for intrastate private line\nservices, used mainly by large business customers, which ATT\nsaid were priced below its access costs.\n \"Private line service has been grossly underpriced since\n1984, and, therefore, it has been subsidized by all long\ndistance users,\" Terry Hobbs, assistant vice president said.\n \"As a result of today's PSC decision to allow our private\nline service prices to cover their access costs, these\nsubsidies will end and we'll be able to reduce basic long\ndistance rates for everyone,\" he added.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:12:38.37",
"places": [
"usa"
],
"id": "14441"
},
{
"date": " 7-APR-1987 15:12:48.81",
"id": "14442"
},
{
"date": " 7-APR-1987 15:12:56.03",
"id": "14443"
},
{
"title": "CHICAGO DELIVERABLE WHEAT STOCKS",
"body": "The CFTC reported the following stocks\nof wheat in Chicago as of Friday, April 3 , deliverable against\nCBT wheat futures in 000's bushels -\n CURRENT WEEK YEAR\n WEEK AGO AGO\n SOFT RED WINTER 0 0 25\n HARD RED WINTER 1639 1635 54\n DARK NORTHERN SPRING 0 0 0\n NORTHERN SPRING 8 5 0\n TOTAL DEL GRADES 1647 1640 79\n NON-DEL GRADES/UNGRADED 79 69 15\n CCC STOCKS 2584 2584 800\n TOTAL WHEAT STOCKS 4310 4293 894\n Reuter\n\u0003",
"date": " 7-APR-1987 15:13:05.42",
"id": "14444"
},
{
"date": " 7-APR-1987 15:13:18.90",
"id": "14445"
},
{
"date": " 7-APR-1987 15:13:36.87",
"id": "14446"
},
{
"title": "CBT CORN FUTURES CLOSE HIGHER ON FIRM NOTE",
"body": "CBT corn futures closed on or near the\nhighs, up 1-1/4 to three cents per bushel, with May settling at\n1.59-1/2 dlrs after posting a 1-1/2 cent range.\n Slow country movement, yesterday's sharp jump in the weekly\ncorn export figure to about three times last year's weekly\ninspections, plus the outlook for a continued active export\npace due to the decline in the U.S. dollar this year, supported\nnearbys, traders said.\n Many traders said they were mystified why Drexel Burnham\nwas such an aggressive buyer today in new crop December.\n Farmers will probably plant as many acres as allowed under\nthe government programs and near-record yields must be assumed\nat this time because they will aggressively apply fertilizer to\nprime yielding acres, one commercial trader noted.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:15:07.26",
"id": "14447"
},
{
"title": "CHICAGO DELIVERABLE SOYBEAN STOCKS",
"body": "The CFTC reported the following stocks\nof soybeans in Chicago as of Friday, April 3 , deliverable\nagainst Chicago Board of Trade futures in 000's bushels -\n CURRENT WEEK YEAR\n WEEK AGO AGO\n DEL GRADES 254 236 10629\n NON-DEL GRADES/UNGRADED 77 78 581\n CCC STOCKS 10022 10022 2373\n TOTAL SOYBEAN STOCKS 10353 10336 13583\n Reuter\n\u0003",
"date": " 7-APR-1987 15:15:14.15",
"id": "14448"
},
{
"date": " 7-APR-1987 15:15:21.46",
"id": "14449"
},
{
"title": "MINNEAPOLIS SPRING WHEAT CLOSES HIGHER",
"body": "Spring wheat futures closed 1-3/4 to\n3/4 cents higher as some exporter pricing and firm cash demand\nlent support to an otherwise quiet market, traders said. May\nclosed 1-3/4 cents higher at 2.85-1/4 dlrs.\n The 14 pct spring wheat cash basis was steady at 38 cents\nover May despite increased receipts of 186 cars. Milling durum\nwas steady at 3.95 to 4.00 dlrs and terminal quality was\nunchanged at 3.55 dlrs for Minneapolis and 3.80 dlrs Duluth.\n Other quotes were unchanged with Duluth sunseed at 7.80\ndlrs, number one and two oats at 1.55 to 1.66 dlrs, feed barley\nat 1.75 dlrs for Duluth and malting barley at 2.00 to 2.05 dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:15:30.55",
"id": "14450"
},
{
"title": "DELIVERABLE GRADE GUIDE",
"body": "graded grain meeting exchange quality\nrequirements for futures delivery, excluding CCC-owned grain.\nIncludes all non-CCC deliverable grades regardless of whether\nreceipted and/or registered.\n Non-del. Grades/Ungraded - Graded grain not meeting\nexchange quality requirements for futures delivery and ungraded\ngrain, excluding CCC-owned grain.\n CCC Stocks - grains owned by CCC.\n Non-deliverable classes or subclasses of grain (e.g. white\nwheat or white corn) are not included in any of the figures.\n * year ago data for this category is not available.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:15:37.95",
"id": "14451"
},
{
"date": " 7-APR-1987 15:16:00.19",
"id": "14452"
},
{
"title": "MINNEAPOLIS DELIVERABLE OAT STOCKS",
"body": "CFTC reported, as of april 3 , oats\nstocks in Mpls deliverable against Chgo futures/000's bu-\n CURRENT WEEK YEAR\n WEEK AGO AGO\n DEL GRADES 871 1296 2046\n NON-DEL GRADES/UNGRADED 2167 1737 444\n CCC STOCKS 297 297 228\n TOTAL OATS STOCKS 3335 3330 2718\n\n\n Reuter\n\u0003",
"date": " 7-APR-1987 15:16:09.05",
"id": "14453"
},
{
"title": "PORK BELLY FUTURES CLOSE MIXED",
"body": "Pork belly futures traded on both sides\nof previous levels in choppy action before closing 0.62 cent\nlower to 0.70 higher. July paced nearbys lower while March led\nnext year contracts higher. May ended at 66.17, off 0.22 cent.\n Uneven price moves persisted as locals traded on both sides\nof the market. Local and wire house buying lifted prices early\nbefore locals turned sellers and touched off stop loss orders,\ntraders said.\n Expectations by some traders that this afternoon's out of\ntown storage report would be negative to futures offset early\nsupport generated by higher live hog markets and light hog\nruns, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:16:21.36",
"id": "14454"
},
{
"title": "COMEX SILVER FUTURES CLOSE ON HIGHS",
"body": "Comex silver futures made session highs\non the close, settling with gains of 18.5 to 20.4 cents.\nSettling prices also set new highs for the recent move, as\nspeculative buying overcame midsession profit taking.\n Locals and commercial traders who went short today,\nexpecting a corrective move, bought back positions. Those who\nwent long weeks ago are still reluctant to sell, traders said.\n Analysts said speculators continue to find silver a bargain\nrelative to gold and are snapping up the metal as a cheap\ninflation hedge.\n May closed 18.5 cents higher at 6.765 dlrs. July was up\n18.7 cents at 6.841 dlrs. Open interest at yesterday's close\nrose to 109,534 contracts, a new high for the move. Estimated\nvolume today was 38,500 lots, including 4,326 switches.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:16:51.74",
"id": "14455"
},
{
"date": " 7-APR-1987 15:16:59.96",
"id": "14456"
},
{
"title": "TOLEDO DELIVERABLE WHEAT STOCKS",
"body": "The CFTC reported the following stocks\nof wheat in Toledo as of Friday, April 3 deliverable against\nChicago Board of Trade wheat futures (in 000's bu).\n CURRENT WEEK YEAR\n WEEK AGO AGO\n SOFT RED WINTER 955 1142 1460\n HARD RED WINTER 0 0 0\n DARK NORTHERN SPRING 0 0 0\n NORTHERN SPRING 0 0 0\n TOTAL DEL GRADES 955 1142 1460\n NON-DEL GRADES/UNGRADED 177 162 0\n CCC STOCKS 1803 1783 793\n TOTAL WHEAT STOCKS 2935 3087 2253\n Reuter\n\u0003",
"date": " 7-APR-1987 15:17:09.01",
"id": "14457"
},
{
"date": " 7-APR-1987 15:17:13.18",
"id": "14458"
},
{
"title": "WORLD SUGAR FUTURES RALLY LATE, SETTLE HIGHER",
"body": "World sugar futures settled higher,\nstrengthening late on shortcovering and technically-based\nbuying, analysts said.\n The rally gained momentum \"when traders realized they could\nget a key reversal,\" a commission house analyst said. But the\nmarket showed signs of continued resistance near 7.0 cents\nbasis May, he noted.\n May delivery exceeded yesterday's low and yesterday's high\nbefore settling at 6.94 cents a lb, up 0.15 cent.\n Values tumbled this morning when computer fund selling\ntriggered sell-stops at 6.60 cents and under. But contracts\nrecouped most of those losses by midsession on trade buying,\nbrokers said.\n Estimated volume was 20,339 lots.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:17:28.75",
"id": "14459"
},
{
"title": "TOLEDO DELIVERABLE CORN STOCKS",
"body": "The CFTC reported the following stocks\nof corn in Toledo as of Friday, April 3 , deliverable against\nChicago Board of Trade futures (in 000's bushels) -\n CURRENT WEEK YEAR\n WEEK AGO AGO\n DEL GRADES 14478 15326 17456\n NON-DEL GRADES/UNGRADED 3903 4291 802\n CCC STOCKS 9336 9198 2463\n TOTAL CORN STOCKS 27717 28815 20721\n Reuter\n\u0003",
"date": " 7-APR-1987 15:17:48.99",
"id": "14460"
},
{
"title": "LUMBER FUTURES TRIM LOSSES AT CLOSE",
"body": "Lumber futures recovered from lows to\nclose 3.10 to 0.10 dlrs per tbf lower. May paced the setback\nand ended at 187.70 dlrs.\n Futures moved lower all morning on long liquidation. Stop\nloss orders added to the setback before late shortcovering\ntrimmed losses, traders said.\n Pressure reflected declines in financial futures, which\nprompted concern that interest rates may rise, and private\nreports of further weakness in cash product. Demand for spruce\nis slow and mills are looking for buyers, they noted.\n Shearson, Merrill, Shatkin, Dean Witter and Cargill sold on\nthe decline. Merchants spread long May/short September at one\ntime, they added.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:18:30.41",
"id": "14461"
},
{
"title": "CHASE MANHATTAN TO CLOSE PERU CONSUMER OPERATION",
"body": "the chase manhattan bank, N.A. <CMB>, is\nclosing its peruvian consumer banking operations less than\nthree yeas after they opened, the bank's manager in peru, jorge\nsosa, said.\n He told reuters June 30 was the closing date. He said the\nmeasure was not linked to peru's foreign debt position. Chase\nis one of peru's top private banking creditors.\n Peru is over 700 mln dlrs in arrears on its interest owed\nto its 280 or so private foreign bank creditors, bankers said.\n Sosa said chase opened its local consumer banking operation\nin september 1984. It held the equivalent of around four mln\ndlrs in deposits and had extended the equivalent of\nabout five mln dlr in loans.\n The bank still had to decide whether it would sell the\nholdings to another banking institution before closing the\noperation, he said.\n The closing of chase's consumer operation will leave only\nfive foreign banks operating this service in peru. Two of them\nare institutions from the united states and there is one each\nfrom britain, japan and spain.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:18:38.26",
"places": [
"peru"
],
"id": "14462"
},
{
"date": " 7-APR-1987 15:18:49.01",
"id": "14463"
},
{
"title": "ST LOUIS DELIVERABLE CORN STOCKS",
"body": "The CFTC reported the following stocks\nof corn in St Louis as of Friday, april 3 , deliverable against\nChicago Board of Trade futures in 000's bushels -\n CURRENT WEEK YEAR\n WEEK AGO AGO\n DEL GRADES 640 225 369\n NON-DEL GRADES/UNGRADED 0 0 25\n CCC STOCKS 397 397 153\n TOTAL CORN STOCKS 1037 622 547\n Reuter\n\u0003",
"date": " 7-APR-1987 15:18:56.07",
"id": "14464"
},
{
"date": " 7-APR-1987 15:19:03.62",
"id": "14465"
},
{
"date": " 7-APR-1987 15:19:27.13",
"id": "14466"
},
{
"title": "TOLEDO DELIVERABLE SOYBEAN STOCKS",
"body": "The CFTC reported the following stocks\nof soybeans in Toledo as of Friday, april 3 , deliverable\nagainst Chicago Board of Trade futures in 000's bushels -\n CURRENT WEEK YEAR\n WEEK AGO AGO\n DEL GRADES 1625 1747 5338\n NON-DEL GRADES/UNGRADED 294 238 242\n CCC STOCKS 1085 1085 329\n TOTAL SOYBEAN STOCKS 3004 3070 5909\n\n Reuter\n\u0003",
"date": " 7-APR-1987 15:19:34.14",
"id": "14467"
},
{
"date": " 7-APR-1987 15:19:48.23",
"id": "14468"
},
{
"title": "AVON SAYS IT TO BUY GIORGIO INC, A FRAGRANCE COMPANY, FOR 185 MLN DLRS\n",
"date": " 7-APR-1987 15:20:22.86",
"topics": [
"acq"
],
"id": "14469"
},
{
"date": " 7-APR-1987 15:20:53.38",
"id": "14470"
},
{
"date": " 7-APR-1987 15:22:43.69",
"id": "14471"
},
{
"title": "CANADIAN METALS - April 7",
"body": "VIRGIN 34.00/34.50\n ZINC - PRIME WESTERN 50.00/56.50\n ZINC - HIGH GRADE 49.50/56.00\n ZINC - SPECIAL HIGH GRADE 50.00/56.00\n\u0003",
"date": " 7-APR-1987 15:22:59.22",
"id": "14472"
},
{
"title": "COMEX ALUMINUM FUTURES SETTLE UNCHANGED",
"body": "Comex aluminum futures settled\nunchanged after featureless session.\n The May contract settled at 61.50 cents a lb after posting\nonly a five point range.\n Estimated volume was 40 lots.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:23:38.27",
"id": "14473"
},
{
"title": "KANSAS CITY DELIVERABLE GRAIN STOCKS",
"body": "Deliverable grain stocks were\nreported in federally approved elevators in the Kansas City\narea on April 3, 1987 as follows.\n -In 000s of bushels-\n All hard red winter wheat\n Deliverable This Week Week Ago Year Ago\n Stocks 7743 8154 13372\n Non-Deliv\n Stocks/Ungr 417 447 432\n CCC Stocks 13730 13639 4592\n Total Stocks 21890 22240 18396\n Reuter\n\u0003",
"date": " 7-APR-1987 15:24:08.95",
"id": "14474"
},
{
"title": "TWA SAYS MARCH SYSTEM LOAD FACTOR RISES TO 67.4 PCT FROM 60.4 PCT A YEAR AGO\n",
"date": " 7-APR-1987 15:24:23.74",
"id": "14475"
},
{
"title": "MAGMA LOWERS COPPER PRICE 0.50 CT TO 65.50 CTS",
"body": "Magma Copper Co, a subsidiary of\nNewmont Mining Corp, said it is lowering its copper cathode\nprice by 0.50 cent to 65.50 cents a lb, effective immediately.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:25:17.75",
"topics": [
"copper"
],
"places": [
"usa"
],
"id": "14476"
},
{
"title": "MINNEAPOLIS DELIVERABLE SPRING WHEAT STOCKS",
"body": "The CFTC reported stocks of northern\nspring wheat in deliverable positions as of Friday, April 3 \n(in 000s of bushels).\n Mpls 4/3/87 Week Ago Year Ago\n Deliverable 2187 2235 982\n Non-Del/Ungr 699 639 305\n CCC Stocks 17381 17414 19390\n Total Stock 20267 20288 20677\n Duluth 4/3/87 Week Ago Year Ago\n Deliverable 1029 1247 576\n Non-Del/Ungr 1165 1350 791\n CCC Stocks 16309 16710 20082\n Total Stocks 18503 19307 21449\n Reuter\n\u0003",
"date": " 7-APR-1987 15:25:31.37",
"id": "14477"
},
{
"title": "YEUTTER WARNS CONGRESS ON TRADE RETALIATION",
"body": "U.S. trade representative Clayton\nYeutter said that if Congress were to require trade\nretaliation, it would only close markets and would result in\nless trade.\n In remarks prepared for an address to members of the\nUniversity of Chicago's Graduate School of Business, Yeutter\nsaid many Congressional proposals do not appear to be overtly\nprotectionist, yet their undeniable effect would be to close\noff market opportunitites, just as exchange rate movement is\nunleashing such opportunities for the first time in several\nyears.\n \"Despite all our progress on trade policy and despite the\nPresident's comprehensive competitiveness initiative, there are\nmany in Congress who still are supporting trade bills\ncontaining many dangerous provisions,\" Yuetter said.\n Yeutter said many countries would prefer U.S. retaliation\nto opening their own markets. \"We should be intelligent enough\nto not let them off the hook that easily,\" he said.\n He said that tough but flexible legislative language is\ninfinitely preferable to tough but inflexible language.\n Both House and Senate trade proposals place undesirable\nlimits on Presidential discretion, he said.\n \"Limiting the President's ability to consider all available\noptions on issues as sensitive as these would be most unwise,\"\nYeutter said. \"That could readily provoke retaliation, which\nwould unneccesarily embroil us in trade wars, injuring most\ncompetitive export industries.\"\n Yeutter said present U.S. trade laws are fundamentally\nsound.\n President Reagan has threatened or implemented retaliation\neight times in the last 18 months -- most recently in the case\nof Japanese semiconductors being dumped in world markets.\n \"He took these steps as a last resort, only after carefully\nanalyzing all the contingencies on a case by case basis and\nonly after determining that such actions would open markets to\nAmerican exports\", he said.\n Yeutter said it would be foolish to attempt to solve the\nU.S. trade deficit by focusing on trade policy alone. He added\nthat the trade deficit was created primarily by macroeconomic\npolicy shortcomings here and abroad.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:25:40.98",
"places": [
"usa"
],
"id": "14478"
},
{
"title": "JEUMONT-SCHNEIDER SETS UP CANADIAN SUBSIDIARY",
"body": "Jeumont-Schneider, a subsidiary of\nSchneider SA <SCHN.PA>, announced in a statement the creation\nof a Canadian subsidiary, Jeumont-Schneider of Canada.\n The new subsidiary will work on developing\nJeumont-Schneider's Canadian sales, particularly for its\nelectro-mechanical and electronics goods.\n The company also said it had signed a distribution\nagreement with <Beel Electronics> for sales of the French\ngroup's speed variators in Canada.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:26:30.52",
"places": [
"france",
"canada"
],
"id": "14479"
},
{
"date": " 7-APR-1987 15:26:42.58",
"id": "14480"
},
{
"title": "U.S. GOLD FUTURES END STRONGER, NEAR DAY'S HIGHS",
"body": "Comex gold futures closed stronger and\nnear the day's highs, underpinned by a buoyant silver market,\nbrokers said.\n Silver again set the pace for the precious metals. Silver\nposted a sharp rise on continued speculative purchases amid\nhopes it would soon hit seven dlrs an ounce in the May\ncontract. Silver finished near session highs, analysts noted.\n Gold for delivery in June settled at 426.20 dlrs an ounce,\nup 3.60 dlrs and just slightly under a day's high of 426.50\ndlrs. Gold bullion rose to 422.25/3.25 dlrs from 418.10/60 dlrs\nyesterday. Other contracts rose 3.60 to four dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:27:06.85",
"id": "14481"
},
{
"title": "WASTE MANAGEMENT <WMT> CANNOT ACCOUNT FOR DROP",
"body": "Waste Management Inc said in response to\na Reuters inquiry that it knew of no reason to account for the\ndecline in its stock, trading at 74-1/4, off 2-5/8.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:27:11.34",
"places": [
"usa"
],
"id": "14482"
},
{
"title": "IRAQ CCC CREDIT GUARANTEES SWITCHED - USDA",
"body": "The Commodity Credit Corporation\n(CCC) has transferred 21.0 mln dlrs in credit guarantees\npreviously earmarked for sales of U.S. corn and 5.0 mln dlrs\nfor sales of oilseeds to increase available coverage on sales\nof U.S. poultry meat to Iraq, the U.S. Agriculture Department\nsaid.\n The department said the action was taken at the request of\nIraq's State Trade Organization for Grains and Foodstuffs.\n The guarantee line for sales of corn has been reduced from\n78.0 mln dlrs to 57.0 mln and the line for oilseeds from 5.0\nmln dlrs to zero.\n The guarantee line for sales of frozen poultry has been\nincreased from 30.0 mln dlrs to 56.0 mln dlrs, USDA said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:28:16.88",
"topics": [
"grain",
"corn",
"oilseed",
"livestock"
],
"places": [
"usa",
"iraq"
],
"id": "14483"
},
{
"date": " 7-APR-1987 15:29:26.09",
"id": "14484"
},
{
"title": "AVON PRODUCTS <AVP> TO BUY GIORGIO FOR 185 MLN",
"body": "Avon Products Inc said it reached an\nagreement in principle to purchase <Giorgio Inc>, a fragrance\ncompany, for 185 mln dlrs in cash.\n Giorgio's annual revnues are more than 100 mln dlrs, Avon\nsaid. The acquisition has been approved by Avon's board, with\nthe closing set for May 7.\n The transaction would have no impact on Avon's current\ndividend rate, it said.\n Giorgio's boutique in Beverly Hills, Calif., will be sold\nback to Fred Hayman, one of the shareholders, who will continue\nto operate it independently, Avon said.\n Avon said it identified Giorgio more than a year ago as a\npreferred acquisition candidate. It said it is launching a\nprestige fragrance developed in conjunction with Catherine\nDeneuve this spring.\n Giorgio will be operated as a separate subsidiary, Avon\nsaid, and would not compete with Avon's direct selling beauty\nproducts business.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:29:57.65",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14485"
},
{
"title": "NATIONAL AVERAGE PRICES FOR FARMER-OWNED RESERVE",
"body": "The U.S. Agriculture Department\nreported the farmer-owned reserve national five-day average\nprice through April 7 as follows (Dlrs/Bu-Sorghum Cwt) -\n Natl Loan Release Call\n Avge Rate-X Level Price Price\n Wheat 2.63 2.40 IV 4.65 --\n V 4.65 --\n VI 4.45 --\n Corn 1.38 1.92 IV 3.15 3.15\n V 3.25 --\n X - 1986 Rates.\n Natl Loan Release Call\n Avge Rate-X Level Price Price\n Oats 1.58 0.99 V 1.65 -- \n Barley 1.52 1.56 IV 2.55 2.55\n V 2.65 -- \n Sorghum 2.53 3.25-Y IV 5.36 5.36\n V 5.54 -- \n Reserves I, II and III have matured. Level IV reflects\ngrain entered after Oct 6, 1981 for feedgrain and after July\n23, 1981 for wheat. Level V wheat/barley after 5/14/82,\ncorn/sorghum after 7/1/82. Level VI covers wheat entered after\nJanuary 19, 1984. X-1986 rates. Y-dlrs per CWT (100 lbs).\n Reuter\n\u0003",
"date": " 7-APR-1987 15:30:12.09",
"id": "14486"
},
{
"title": "CBT WHEAT FUTURES RALLY TO CLOSE HIGHER",
"body": "CBT wheat futures rebounded from\nmidsession lows to close 2-1/2 cents to 1/4 cent per bushel\nhigher in light trade. May settled at 2.88-3/4 dlrs after\nposting a 2-3/4 cent range on the day.\n After opening higher on followthrough speculative buying\nafter yesterday's technically strong close, setting contract\nhighs in new crop, prices eased on trade talk some countries\nwho were holding buying tenders this week have rejected U.S.\noffers or have taken wheat from other exporting countries,\ntraders said.\n However, the strong chart picture and strength in corn and\nsoybeans provided solid background support for wheat.\n Cargill was the featured seller in new crop July, sparking\nthe midsession selloff.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:31:31.87",
"id": "14487"
},
{
"date": " 7-APR-1987 15:31:38.73",
"id": "14488"
},
{
"date": " 7-APR-1987 15:32:04.01",
"id": "14489"
},
{
"date": " 7-APR-1987 15:32:23.50",
"id": "14490"
},
{
"title": "HONDURAS SEEKING PL-480 VESSELS FOR BULK WHEAT",
"body": "Honduras will tender April 13 under\nPublic Law 480 for U.S. and non-U.S. flag vessels to deliver\napproximately 52,500 tonnes of various wheats in bulk, an agent\nfor the country said.\n The agent said deliveries of northern spring/dns wheat will\ninclude laydays of July 1-10 for 7,500-9,500 tonnes, August\n1-10 for 8,000-10,000 tonnes, and September 15-25 for\n12,500-14,500 tonnes.\n Deliveries of hard red winter wheat will have laydays of\nJune 20-30 for 5,000-7,000 tonnes, July 15-25 for 6,500-8,500\ntonnes, and September 15-25 for 7,000-9,000 tonnes.\n Offers are due by 1200 hrs EDT, April 13, and will remain\nvalid until the close of business April 14, the agent said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:33:03.69",
"topics": [
"ship",
"grain",
"wheat"
],
"places": [
"usa",
"honduras"
],
"id": "14491"
},
{
"title": "BRAZIL SETS UP SPECIAL DEBT COMMISSION",
"body": "Brazil has set up a special debt\ncommission, headed by Finance Minister Dilson Funaro, to be\nresponsible for renegotiating Brazil's 109 billion dollar\nforeign debt, officials said.\n The principal negotiator on the commission, created by\nPresident Jose Sarney, will be former foreign minister Ramiro\nSaraiva Guerreiro.\n Officials said Guerreiro would be joined on the commission\nby eight senior officials, including a representative of the\nNational Security Council.\n The creation of the commission is intended to underscore\nthe Brazilian government's contention that the debt issue is\nessentially political and that a political solution must be\nfound to the problem.\n On February 20 Brazil suspended interest payments on its 68\nbillion dollar foreign bank debt to try to force the issue.\n Creditor banks, however, have signalled that they are\nequally determined to resist Brazil's demands for debt relief.\n Yesterday Funaro travelled to the United States for fresh\ndebt negotiations with creditors deeply angered by Brasilia's\nsuspension of interest payments.\n Funaro was due to hold talks in New York today with the\nprivate sector, before travelling to Washington for the semi-\nannual meeting of the International Monetary Fund and the World\nBank.\n Officials said the new commission would start work in\nearnest when Funaro returns from the United States.\n Yesterday Funaro called for a new forum for discussion of\nthe foreign debt. He suggested direct participation of the\ngovernments of creditor countries in debt talks.\n In negotiations on commercial debt, talks have\ntraditionally been restricted to banks.\n The creation of the new commission brings Brazil's highly\nprofessional Foreign Ministry much more into the forefront on\nthe debt issue than it has been in the past.\n During the period of military rule, which ended in 1985,\nthe Foreign Ministry played a very minor role in debt policy.\n But the new commission has diplomats among its members and\nthe chief negotiator, Saraiva Guerreiro, is a seasoned envoy\nwith a long diplomatic career.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:33:13.40",
"places": [
"brazil",
"usa"
],
"id": "14492"
},
{
"date": " 7-APR-1987 15:33:57.14",
"id": "14493"
},
{
"date": " 7-APR-1987 15:35:48.01",
"id": "14494"
},
{
"date": " 7-APR-1987 15:36:53.45",
"id": "14495"
},
{
"date": " 7-APR-1987 15:37:01.31",
"id": "14496"
},
{
"title": "DEERE <DE> AND UNIT DEBT DOWNGRADED BY MOODY'S",
"body": "Moody's Investors Service Inc said it\ndowngraded 1.8 billion dlrs of long-term debt of Deere and Co\nand its finance unit John Deere Credit Co.\n Downgraded were senior notes and debentures to Baa-2 from\nA-3 and subordinated debt to Baa-3 from Baa-1. The senior debt\nincludes John Deere Credit Co's guaranteed Eurobonds.\n Moody's cited lower agricultural equipment demand due to\ndepressed conditions in the farm economy. It also noted that\nequipment prices are pressured by competition. Deere is the\nindustry's dominant producer but overcapacity keeps cash flow\nand debt protection measures under pressure, Moody's noted.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:37:26.91",
"places": [
"usa"
],
"id": "14497"
},
{
"date": " 7-APR-1987 15:37:44.64",
"id": "14498"
},
{
"title": "MAGMA LOWERS COPPER PRICE 0.50 CT TO 65.50 CTS",
"body": "Magma Copper Co, a subsidiary of\nNewmont Mining Corp, said it is lowering its copper cathode\nprice by 0.50 cent to 65.50 cents a lb, effective immediately.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:37:48.53",
"topics": [
"copper"
],
"places": [
"usa"
],
"id": "14499"
},
{
"title": "TWA <TWA> MARCH TRAFFIC RISES",
"body": "Trans World Airways said load factor\nin March rose to 67.4 pct from 60.4 pct last year.\n Available seat miles rose 22 pct to 3.9 billion from 3.2\nbillion and revenue passenger miles rose 35.4 pct to 2.6\nbillion from 2.0 billion.\n For the year-to-date, load factor rose to 60.3 pct from\n55.2 pct, available seat miles rose 10.2 pct to 11.2 billion\nfrom 10.2 billion and revenue passenger miles rose 20.2 pct to\n6.7 billion from 5.6 billion.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:38:22.06",
"places": [
"usa"
],
"id": "14500"
},
{
"title": "NY COTTON EXTENDS GAINS LATE, SETTLES HIGHER",
"body": "Cotton futures extended their gains in\nlate dealings when trade selling dissipated, allowing local and\nspeculative buying to increase, brokers said.\n The market settled 0.75 to 0.50 cent stronger, with spot\nMay ended 0.70 better at 56.50 cents a lb.\n May got as high as 56.75 cents but profit-taking by early\nbuyers trimmed gains, brokers said.\n Early demand came from traders convinced that the market\nwas technically oversold, brokers said.\n Trade buying bolstered new-crop contracts, brokers said.\nDecember settled 0.72 cent firmer at 55.47 cents.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:39:56.31",
"id": "14501"
},
{
"date": " 7-APR-1987 15:40:48.09",
"id": "14502"
},
{
"title": "CBT SOYPRODUCT FUTURES CLOSE MIXED",
"body": "CBT soyproduct futures closed higher in\nsympathy with strength in new crop soybeans, with soymeal up\n1.30 to 3.00 dlrs per ton and soyoil 0.19 to 0.15 cent per lb\nhigher. May soymeal settled at 146.60 dlrs, with soyoil at\n15.61 cents.\n Steadiness in Rotterdam meals and U.S. cash soymeal basis\nvalues this morning, plus trade talk of additional processor\ndown-time in the U.S. over the next few weeks, added to the\npositive tone in meal futures, they said.\n A local house bought over 600 contracts of July soymeal,\nwith C and D Commodities, Dean Witter, E.F. Hutton and Merrill\nLynch buying small amounts of nearbys, pit brokers said.\n Commercials were the featured buyers in soyoil, with\nsellers scattered and small-lot.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:41:00.19",
"id": "14503"
},
{
"title": "GENCORP <GY> SAYS BUYBACK BETTER THAN TAKEOVER",
"body": "GenCorp Inc said the decision by\nGeneral Partners, comprised of AFG Industries and Wagner and\nBrown, to end its hostile offer for the company supports its\nbelief that the buy back offer it announced yesterday was a\n\"financially superior alternative.\"\n GenCorp said it would annouce details of its plans to buy\nback 54 pct of its stock for 1.6 billion dlrs, or 130 dlrs a\nshare, later this week. GenCorp's buy back was made to fend off\nthe hostile 2.3 billion dlr, 100-dlr-a-share, tender offer by\nAFG and Wagner and Brown.\n Earlier today AFG and Wagner and Brown said that without\nthe benefit of additional information available to GenCorp's\nmanagement, it cannot compete economically with GenCorp's\nproposal.\n The group said it is ending its tender offer for GenCorp\nand promptly return to tendering shareholders all shares\ntendered pursuant to its offer.\n The group owns 9.8 pct, or 2,180,608 shares, of GenCorp's\noutstanding shares.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:41:07.12",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14504"
},
{
"title": "WALL STREET STOCKS LOWER IN LATE TRADING",
"body": "Wall Street stocks remained depressed\nin active trading. Weakness in the bond market reignited\ninvestors' anxiety about interest rates and triggered profit\ntaking and arbitrage related program selling, traders said.\nTechnology stocks were sharply lower.\n The Dow Jones Industrial Average fell 23 points to 2383.\nDeclines led advances by a two-one margin on volume of 171 mln\nshares.\n General Motors gained 1-1/4 to 82-3/4 in active trading.\nTraders said investors expect postive comments at an analysts\nmeeting at the end of the week.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 15:41:14.44",
"id": "14505"
},
{
"title": "BERRY PETROLEUM, NORRIS OIL <NOIL> TO MERGE",
"body": "Berry Petroleum Co said its board\nand the Norris Oil Co board approved a merger agreement that\ncalls for Norris to become a wholly-owned Berry subsidiary.\n Berry, a privately-owned company which already owns 80.6\npct of Norris Oil's stock, said the agreement calls for Norris'\npublic shareholders to receive 0.0333 Berry common shares for\neach Norris share held.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:41:28.89",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14506"
},
{
"date": " 7-APR-1987 15:41:34.17",
"id": "14507"
},
{
"date": " 7-APR-1987 15:41:59.31",
"id": "14508"
},
{
"title": "CCC CREDITS FOR BANGLADESH AMENDED - USDA",
"body": "The Commodity Credit Corporation\n(CCC) has reallocated 5.0 mln dlrs in credit guarantees\npreviously earmarked for sales of U.S. wheat to provide\ncoverage for sales of U.S. vegetable oil to Bangladesh, the\nU.S. Agriculture Department said.\n USDA said the action was taken at the request of the\nBangladesh government and reduces the guarantee line authorized\nfor wheat sales from 25.0 mln dlrs to 20.0 and creates a new\nline of 5.0 mln dlrs for vegetable oils.\n To be eligible for coverage under the CCC's Intermediate\nExport Credit Program, credit terms must be in excess of three\nyears, but not more than seven years.\n All sales covered by the credit guarantees must be\nregistered and shipped by September 30, 1987, USDA said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:42:09.16",
"topics": [
"grain",
"wheat",
"veg-oil"
],
"places": [
"usa",
"bangladesh"
],
"id": "14509"
},
{
"title": "ALLIED-SIGNAL <ALD> UNIT TO CUT EMPLOYEES",
"body": "Allied-Signal Inc's Bendix Test\nSystems Division is cutting between 75 and 125 employes as part\nof its streamlining efforts.\n Bendix, which is part of the Aircraft Systems Co of\nAllied-Signal's Aerospace's Bendix sector, said the cuts would\ncreate a more cost-effective unit. It said employment is\nexpected to remain at approximately 1,200 employes.\n The reductions began last month when the division announced\na voluntary retirement program for eligible employes.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:42:15.72",
"places": [
"usa"
],
"id": "14510"
},
{
"title": "NY COCOA FUTURES CLOSE MIXED",
"body": "Cocoa futures drifted into a dull\nfinish, settling at nine dlrs lower to seven higher, with most\ncontracts near unchanged from midday levels.\n May closed nine dlrs lower at 1,925 dlrs. Estimated volume\nwas 1,461 contracts.\n Light selling based on weak London prices and continued\noffers by West African origins applied light pressure.\n A report from London that traders question the supportive\npotential of newly-negotiated buffer stock rules was also\ndepressing to prices, analysts said.\n Bahia arrivals now total a cumulative 6,475,385 bags,\nprivate Brazil trade sources said, half a mln bags above the\nyear ago count.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:43:27.02",
"id": "14511"
},
{
"title": "CCC SEED CREDIT GURANTEES FOR ALGERIA - USDA",
"body": "The Commodity Credit Corporation\n(CCC) has authorized 2.0 mln dlrs in credit guarantees to cover\nsales of seeds for planting to Algeria, the U.S. Agriculture\nDepartment said.\n The department said the additional guarantees increase the\ncumulative fiscal year 1987 program for sales of U.S.\nagricultural products to Algeria to 466.0 mln dlrs.\n To be eligible under the new seed credit guarantees, all\nsales must be registered by September 30, 1987, and shipped by\nDecember 31, 1987, USDA said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:43:34.26",
"topics": [
"oilseed"
],
"places": [
"usa",
"algeria"
],
"id": "14512"
},
{
"title": "AMR <AMR> FORMS NEW INVESTMENT UNIT",
"body": "AMR Corp, parent company of American\nAirlines, said it has formed a new unit named AMR Investment\nServices to provide cash and pension fund management services\nto AMR and to small and medium-sized companies and\ninstitutional investors.\n AMR said the unit will provide short-term portfolio\nmanagement services through either individual segregated\naccounts or through a commingled money market portfolio that is\npart of a new open-ended mutual fund called American AAdvantage\nFunds.\n AMR said the unit will provide pension fund and profit\nsharing invetsment management services through the American\nAAdvantage Balance Fund, the American AAdvantage Equity Fund\nand the American AAdvantage Fixed Income Fund.\n The company said it appointed William Quinn, AMR Corp's\nassistant treasurer-funds management, as president of the new\nunit.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:44:11.87",
"places": [
"usa"
],
"id": "14513"
},
{
"date": " 7-APR-1987 15:44:21.68",
"id": "14514"
},
{
"title": "USDA ANNOUNCES WORLD MARKET RICE PRICES",
"body": "The U.S. Agriculture Department\nannounced the following prevailing world market prices of rice\non a loan-rate basis, with previous prices --\n -- Long grain whole kernels 5.87 cts per lb vs 5.70\n -- Medium grain whole kernels 5.28 cts per lb vs 5.12\n -- Short grain whole kernels 5.22 cts per lb vs 5.06\n -- Broken kernels 2.94 cts per lb vs 2.85\n The repayment rate for 1986-crop warehouse or farm-stored\nrice loans are the higher of the world price or 50 pct of the\nloan rate of 7.20 dlrs per cwt.\n The prices will remain in effect for a week, but new prices\ncould be announced earlier if warranted, USDA said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:44:31.07",
"topics": [
"grain",
"rice"
],
"places": [
"usa"
],
"id": "14515"
},
{
"title": "TOTAL SYSTEM SERVICES INC <TSYS> 1ST QTR NET",
"body": "Shr nine cts vs seven cts\n Net 1,356,000 vs 1,041,000\n Revs 9.7 mln vs 8.4 mln\n Reuter\n\u0003",
"date": " 7-APR-1987 15:45:44.21",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14516"
},
{
"title": "HUBCO INC <HCO> 1ST QTR NET",
"body": "Shr 38 cts vs 30 cts\n Net 1,356,754 vs 1,048,340\n Assets 448.5 mln vs 407.4 mln\n \n Reuter\n\u0003",
"date": " 7-APR-1987 15:46:00.91",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14517"
},
{
"title": "KANSAS CITY GULF EXPORT PRICES - USDA",
"body": "Gulf export prices for grain delivered to Gulf\nexport elevators, barge to Louisiana Gulf, rail to Texas Gulf,\nprompt or 30 day shipment, dollar per bushel, except sorghum\nper cwt.\n WINTER WHEAT\n 1 HARD RED-Ordinary 308-3/4 dn 1-1/4\n 2 SOFT RED 313-3/4 dn 2-1/2\n 2 YEL CORN 180-1/2 up 1-1/4-dn 3/4\n 2 YEL SORGHUM 321-327 dn 2-up 4 \n 2 YEL SOYBEANS 526-3/4-527-3/4 up 1-up 2\n reuter\n\u0003",
"date": " 7-APR-1987 15:46:20.39",
"id": "14518"
},
{
"title": "MANHATTAN NATIONAL <MLC> ELECTS CHAIRMAN",
"body": "Manhattan National Corp said it elected\nCharles Hinckley chairman and chief executive officer of the\nlife insurance holding company.\n Hinckley succeeds Wilmot Wheeler Jr, who returns to his\nformer position as vice chairman, the company said.\n Hinckley will continue as president and chief executive\nofficer of Union Central Life Insurance Co, a Cincinnati-based\nmutual insurer, which owns approximately 52.2 pct of Manhattan\nNational outstanding stock.\n\n Reuter\n\u0003",
"date": " 7-APR-1987 15:46:29.51",
"places": [
"usa"
],
"id": "14519"
},
{
"title": "CHICAGO CASH GRAIN",
"body": "BEST BASIS BIDS POSTED BY GRAIN DEALERS\nAT THE CLOSE -\n CHICAGO CORN\n PROCESSORS SPOT, 4 UNDER MAY - UNC\n L/H APRIL, 1 UNDER MAY - UNC\n F/H MAY, MAY PRICE - UP 1\n EXPORTERS APRIL, 4 UNDER MAY - UNC\n NEW CROP, 10 UNDER DEC - UNC\n BURNS HARBOR APRIL, 5 UNDER MAY - UNC\n MERCHANDISER SPOT, 4 UNDER MAY - UNC\n CHICAGO OATS\n MERCHANDISER SPOT, 20 OVER MAY - UNC\n CHICAGO SOYBEANS\n EXPORTERS APRIL, 3 UNDER MAY - UNC\n NEW CROP, 10 UNDER NOV - UNC\n BURNS HARBOR APRIL, 3 UNDER MAY - UNC\n MERCHANDISER SPOT, 3 UNDER MAY - UNC\n CHICAGO SRW WHEAT\n MILLERS 57 LB SPOT, 35 OVER MAY - UNC\n ELEVATOR 58 LB SPOT, MAY PRICE - UNC\n NEW CROP, 7 UNDER JULY - UNC\n EXPORTERS SPOT, UA\n NEW CROP, 5 UNDER JULY - UNC\n MERCHANDISER SPOT, 35 OVER MAY - UNC\n TOLEDO\n CORN, SPOT, 5 UNDER MAY - UP 1\n SOYBEANS, SPOT, 1 UNDER MAY - UNC\n SRW WHEAT, SPOT 58 LBS, 35 OVER MAY - UNC\n ILLINOIS RIVER - SENECA\n CORN, SPOT, 2-1/2 UNDER MAY - UP 1-1/2\n SOYBEANS, SPOT, 5 UNDER MAY - DN 1-1/2\n CIF GULF - BARGE\n CORN, APRIL, 21 OVER MAY - NC\n SOYBEANS, APRIL, 24 OVER MAY OFFERED - DN 2\n SRW WHEAT, UNQUOTED\n PIK CERTIFICATES - PCT OF FACE VALUE\n OUT BY APRIL 7, 104-1/2 PCT BID/105-1/4 ASKED -\n DN 1/2\n NC - NO COMPARISON UNC - UNCHANGED\n Reuter\n\u0003",
"date": " 7-APR-1987 15:46:57.83",
"id": "14520"
},
{
"date": " 7-APR-1987 15:47:05.38",
"id": "14521"
},
{
"date": " 7-APR-1987 15:47:12.16",
"id": "14522"
},
{
"date": " 7-APR-1987 15:47:31.69",
"id": "14523"
},
{
"title": "<WILDERNESS EXPERIENCE INC> 4TH QTR LOSS",
"body": "Period ended Jan 31\n Shr loss three cts vs loss two cts\n Net loss 183,500 vs loss 163,800\n Sales 608,800 vs 1,156,100\n Year\n Shr loss 16 cts vs loss 21 cts\n Net loss 1,128,600 vs loss 1,081,600\n Sales 3,811,200 vs 6,968,700\n \n Reuter\n\u0003",
"date": " 7-APR-1987 15:47:36.50",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14524"
},
{
"title": "TOTAL SYSTEMS SERVICES <TSYS> 1ST QTR NET",
"body": "Shr nine cts vs seven cts\n Net 1,356,000 vs 1,041,000\n Revs 9,729,000 vs 8,367,000\n Reuter\n\u0003",
"date": " 7-APR-1987 15:47:41.15",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14525"
},
{
"date": " 7-APR-1987 15:47:43.79",
"id": "14526"
},
{
"title": "WILDERNESS EXPERIENCE MAY FILE FOR BANKRUPTCY",
"body": "<Wilderness Experience Inc>\nsaid it may be forced to file for bankruptcy court protection,\nor seek a liquidation of the company, if it is unsuccessful in\nobtaining the financing necessary to meet its bank debt\ncommitments.\n The company said it has been unable to renew a short-term\nborrowing arrangement with its bank or to make scheduled debt\npayments.\n It also said the bank has said it will foreclose their\nsecurity interest in the company if it does not present an\nacceptable payment program within the next several weeks.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:47:52.47",
"places": [
"usa"
],
"id": "14527"
},
{
"date": " 7-APR-1987 15:48:28.86",
"id": "14528"
},
{
"date": " 7-APR-1987 15:48:35.03",
"id": "14529"
},
{
"date": " 7-APR-1987 15:48:39.85",
"id": "14530"
},
{
"title": "KANSAS CITY DAILY FEED-WHOLESALE PRICES (USDA)",
"body": "(DLRS PER TON, BULK, IN CAR OF TRUCK LOTS)\n 44 PCT SOYBEAN MEAL/SOLVENT 156.70-160.70\n 48 PCT SOYBEAN MEAL/SOLVENT 168.70-171.70\n 41 PCT COTTONSEED MEAL/SOLVENT 145.00 \n 50 PCT Meal and bone meal 187.50 \n 50 PCT Meal/bone meal blended 187.50 \n GLUTEN FEED 100.00 \n GLUTEN MEAL 230.00 \n WHEAT BRAN and MIDLNGS 35.00-36.00 \n FEATHER MEAL 145.00-150.00\n FEATHER MEAL - ARKANSAS POINTS 130.00-135.00\n ANIMAL FAT - cts per lb yellow 9-1/2\n BLEACHABLE FANCY 11-1/2\n HOMINY FEED 60.00 \n DEHYDRATED ALFALFA MEAL 95.60 \n SUN-CURED ALFALFA PELLETS 85.00 \n BLACKSTRAP MOLASSES 97.20 \n DEHYDRATED ALFALFA PELLETS\n ALFALFA CENTER OF NEBRASKA 81.00 \n ALFALFA HAY FOB STORAGE\n ALFALFA CENTER 40.00-45.00\n Reuter\n\u0003",
"date": " 7-APR-1987 15:48:50.33",
"id": "14531"
},
{
"date": " 7-APR-1987 15:49:01.10",
"id": "14532"
},
{
"title": "RECENT INITIAL SHARE OFFERINGS FILED WITH SEC",
"body": "The following initial securities\nofferings were filed recently with the Securities and Exchange\nCommission:\n RehabCare Corp, Chesterfield, Mo. - 2.5 mln shares of\ncommon stock at an estimated 10-13 dlrs a share through an\nunderwriting group led by Prudential-Bache Capital Funding.\n Sanderson Farms Inc, Laurel, Miss. - 1.25 mln shares of\ncommon stock at an estimated 15-17 dlrs a share through a group\nled by Smith, Barney, Harris Upham and Co Inc.\n Samna Corp, Atlanta, Ga - one mln common shares at an\nestimated eight-10 dlrs each through Robinson-Humphrey Co Inc.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:49:15.82",
"places": [
"usa"
],
"id": "14533"
},
{
"date": " 7-APR-1987 15:49:18.80",
"id": "14534"
},
{
"title": "E-TRON NAMES DIRECTOR OF CHAFF DIVISION",
"body": "<E-tron> said it named Thomas\nFleming director of its Chaff Countermeasures Division.\n Fleming, who has 18 years experience in Chaff\nmanufacturing, was formerly with Tracor Inc <TRR>, the company\nsaid. E-Tron said it is currently in Chapter 11.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:49:24.09",
"places": [
"usa"
],
"id": "14535"
},
{
"title": "PERCEPTRONICS <PERC> UNIT GETS NAVY CONTRACT",
"body": "Perceptronics Inc said its\nFAAC Perceptronics subsidiary received a 2.7 mln dlr contract\nfrom the Naval Air Development Center in Warminster, Pa.\n The contract calls for the company to develop software for\nNaval aircraft training simulators and F-14D weapons systems\nanalysis, Perceptronics said.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 15:49:30.01",
"places": [
"usa"
],
"id": "14536"
},
{
"title": "BERMUDA STAR <BSL> LEASES VESSEL",
"body": "Bermuda Star Line Inc said it has\nleased a 23,500 ton passenger vessel from Orley Shipping Co\nInc, of Liberia for a term with options extending for 15 years.\n The vessel, SS Liberte, will be renamed the Canadian Star\nand will be used for cruises to Montreal from New York,\nbeginning in June.\n Orley SHipping is partially owned by Common Brothers PLC, a\nU.K. maritime firm which owns 60 pct of Bermuda Star's shares\nand arranged debt financing for the ship's purchase.\n Orley acquired the vessel from Banstead Shipping Ltd. Terms\nwere not disclosed.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:50:16.41",
"topics": [
"ship"
],
"places": [
"usa"
],
"id": "14537"
},
{
"title": "IRAQ SAYS FIERCE FIGHTING TO DISLODGE IRANIANS",
"body": "Iraq said tonight its forces were\nbattling to dislodge Iranian troops from territory they gained\nduring a new three-pronged offensive on the war front near the\nsouthern city of Basra.\n The third High Command communique issued during the day\nsaid the Iranians launched a major overnight assault on the\nfronts of three Iraqi divisions, the Qutaiba, Muthanna and\nMohammed al-Qassem forces.\n It said the Iranian troops which attacked the Qutaiba front\nwere completely annihilated but the invading force managed to\ngain some footholds on the other fronts.\n \"Fierce fighting has been raging since dawn today and all\nmorning where our forces succeeded in dislodging the Iranians\nfrom all the positions they gained at the Muthanna front and\nthe situation ended in Iraq's favour,\" the communique said.\n It said Iraqi forces were continuing counter-attacks to\ndrive the Iranians from the few positions they were still\nholding on the front of the Mohammed al-Qassem forces.\n The precise locations of the three fronts were not given.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:50:24.64",
"places": [
"iran",
"iraq"
],
"id": "14538"
},
{
"title": "PREMDOR PLANS TWO-FOR-ONE STOCK SPLIT",
"body": "<Premdor Inc> said it planned a\ntwo-for-one common stock split, subject to shareholder approval\nat the May 4 annual meeting.\n It said the split, if approved, would take effect on May\n20.\n Premdor manufactures and sells wood doors.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:50:28.98",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "14539"
},
{
"title": "TELETRAK ADVANCED TECHNOLOGY 4TH QTR LOSS",
"body": "Shr loss two cts vs loss two cts\n Net loss 183,597 vs loss 136,990\n Rev 36,600 vs 61,763\n Avg shares 12,355,000 vs 9,205,000\n Year\n Shr loss five cts vs loss five cts\n Net loss 571,336 vs loss 416,595\n Rev 103,327 vs 61,763\n Avg shares 12,355,000 vs 8,705,000\n NOTE: Company's full name is <Teletrak Advanced Technology\nSystems Inc and it is a unit of Helm Resources <H>. 1985 net\nloss includes loss from discontinued operations of 278,156\ndlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:51:00.16",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14540"
},
{
"title": "<HOOKER CORP LTD> NAMES NEW PRESIDENT FOR UNIT",
"body": "Hooker Corp Ltd of Australia said it has\nnamed A. Anthony McLellen to the new position of president of\nHooker Holdings (U.S.A.) Inc, the holding company for Hooker\nCorp's U.S. operations.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:52:58.37",
"places": [
"usa"
],
"id": "14541"
},
{
"title": "CANNON <CAN> SELLS STAKE IN HBO/CANNON VENTURE",
"body": "Cannon Group Inc said it agreed in\nprinciple to sell its 50 pct interest in the HBO/Cannon Video\njoint venture to the Home Box Office unit of Time Inc <TL>.\n The company said it is making the sale because in the near\nfuture all of its video products will be licensed in the United\nStates and Canada to either the Warner Brothers unit of Warner\nCommunications Inc <WCI>, or to Media Home Entertainment.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:53:10.32",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14542"
},
{
"title": "GENCORP <GY> STAYS ON S/P CREDITWATCH, NEGATIVE",
"body": "Standard and Poor's Corp said it is\nkeeping GenCorp Inc's 100 mln dlrs of BB-plus subordinated debt\non creditwatch with negative implications.\n S and P cited the company's announcement that it will\npurchase up to 54 pct of its common stock shares for 1.6\nbillion dlrs. GenCorp will finance some of the buy back with\nbank loans, the agency noted.\n GenCorp was originally placed on creditwatch for a possible\ndowngrade after a partnership affiliated with AFG Industries\nInc <AFG> and Wagner and Brown made a tender offer of 110 dlrs\nper share, or 2.2 billion dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:53:48.08",
"places": [
"usa"
],
"id": "14543"
},
{
"title": "HOUSTON OIL TRUST <HO> HALTS ROYALTIES",
"body": "Houston Oil Trust said there will be no\nroyalty funds available for distribution to unit holders in\nApril.\n It also said that based on recent independent petroleum\nengineers' estimates of Oct 31, 1986, there may be no amounts\navialable for distribution the rest of the year.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:53:58.52",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14544"
},
{
"title": "UPPER PENINSULA POWER CO <UPEN> SETS PAYOUT",
"body": "Qtly dividend 52-1/2 cts vs 52-1/2 cts\n Pay May one\n record April 17\n Reuter\n\u0003",
"date": " 7-APR-1987 15:54:07.49",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14545"
},
{
"title": "NY COFFEE FUTURES CLOSE HIGHER",
"body": "N.Y. coffee futures closed higher again\ntoday on trade talk Brazil would not be an aggressive seller\nnear term, analysts said.\n In addition, roaster demand emerged in some forward\ndeliveries, while earlier trade selling around the 102.50 cent\nlevel in the May retreated. May closed 2.21 cents higher at\n104.25 cents, its highest close since March 30.\n Analysts said the market has now fully discounted the fact\nthat there most likely will not be fresh ICO coffee quota talks\nuntil September. \"It's now starting to focus more on the day to\nday, a possibly oversold condition, and some roaster interest,\"\none analyst said.\n Estimated volume was 3,605 contracts.\n July was up 2.25 cents at 106.25 cents.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:54:23.42",
"id": "14546"
},
{
"title": "ITT CORP <ITT> DECLARES DIVIDEND",
"body": "Qtly div 25 cts vs 25 cts prior\n Pay July 1\n Record May 7\n Reuter\n\u0003",
"date": " 7-APR-1987 15:54:26.91",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14547"
},
{
"title": "DAILY MIDWEST LIVESTOCK SUMMARY - USDA",
"body": "slaughter cattle sold steady to up 1.50\ndlrs. choice 2-4 1050-1350 lb steers 64.50-69.00, high plains\n69.50-70.00. choice 2-4 925-1150 lb heifers 63.00-67.00, high\nplains 68.00-68.50.\n us 1-3 210-250 lb barrows and gilts rose 1.00 to 2.00 dlrs\nat 50.50-52.50 terminals markets and direct trade 49.50-52.00.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:54:52.75",
"id": "14548"
},
{
"title": "PACIFIC LIGHTING CORP <PLT> QTLY DIVIDEND",
"body": "Shr 87 cts vs 87 cts prior qtr\n Pay May 15\n Record April 20\n Reuter\n\u0003",
"date": " 7-APR-1987 15:55:08.94",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14549"
},
{
"title": "STALEY CONTINENTAL <STA> REGULAR DIVIDEND SET",
"body": "Qtly div 20 cts vs 20 cts previously\n Pay June Eight\n Record May 22\n Reuter\n\u0003",
"date": " 7-APR-1987 15:55:25.28",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14550"
},
{
"title": "ITT CORP <ITT> REGULAR QTRLY DIVIDEND",
"body": "Qtly div 25 cts vs 25 cts prior\n Payable July one\n Record May 7\n Reuter\n\u0003",
"date": " 7-APR-1987 15:55:35.92",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14551"
},
{
"title": "HOG/CORN RATIO UP IN WEEK - USDA",
"body": "The hog/corn ratio for the week ended\nApril 4 was 32.7 versus 32.1 the previous week and 17.1 in the\ncorresponding week a year ago, the U.S. Agriculture Department\nsaid.\n The steer/corn ratio in the same week was 42.2, versus 41.2\nthe previous week and 22.9 in the corresponding week a year\nago.\n The ratio represents the number of bushels of corn at Omaha\nthat can be bought for 100 lbs of hog or steer.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:56:29.77",
"id": "14552"
},
{
"title": "COMTERM, GENERAL INSTRUMENT (GRL) IN CONTRACT",
"body": "(Comterm Inc) said it signed an\nagreement to manufacture computer terminals for General\nInstrument Corp to be used in the company's computerized\nelectronic lottery systems. Comterm did not give the value or\nother details of the contract. \n Reuter\n\u0003",
"date": " 7-APR-1987 15:56:36.06",
"places": [
"canada"
],
"id": "14553"
},
{
"title": "WESTMIN TO RAISE MYRA FALLS CAPACITY BY 33 PCT",
"body": "<Westmin Resources Ltd> said it\nplans to increase capacity at its Myra Falls, British Columbia,\nbase and precious metal mine and mill complex by 33 pct to\n4,400 tons of ore a day, subject to regulatory approvals.\n The company said the expansion will cost about 24 mln dlrs\nand could be in operation by 1988.\n Economies of scale from the expansion should pay back net\nexpansion cost in less than one year, Westmin said.\n The Myra Falls complex processed 3,257 tons of ore a day\nduring 1986.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:57:21.25",
"places": [
"canada"
],
"id": "14554"
},
{
"title": "MINNEAPOLIS DAILY CASH GRAIN CLOSE (RAIL) USDA",
"body": "(CENTS PER BUSHEL)\n Minneapolis/Duluth Cash Close and Change\n M=Minneapolis, D=Duluth, NB=no bid\n 1 DNS WHEAT: PROTEIN\n ord port M-D 268-1/4n up 1-3/4 \n 11 pct M-D 273-1/4n up 1-3/4 \n 12 pct M-D 288-1/4 up 6-3/4 \n 13 PCT M-D 296-1/4 up 1-3/4 \n 14 pct M-D 323-1/4 up 1-3/4 \n 15 pct M-D 375-1/4 up 1-3/4 \n 16 pct M-D 415-1/4 up 1-3/4 \n 17 pct M-D 420-1/4n up 1-3/4 \n 1 HRW WHEAT\n 12 pct D-M-288-1/4 dn 1/4 \n 13 pct D-M-300-1/4 up 1-3/4 \n 1 Hard Amber Durum\n Milling M-D 395-400 unch \n Terminal M-355n unch \n D-380n unch \n 1 Pl Rye M-185 unch \n 2 Rye M-165n-175n unch \n 1 Hvy Oats M-155n-166n unch \n 2 Hvy Oats M-155n-166 unch \n Malting Barley - 65 pct or better\n Mellow M-200-205 unch \n Blue M-205 unch \n 2 Feed M-unq \n D-175b unch \n Minneapolis Only\n 2 Yel Corn 140-1/2b up 2-1/2 \n 1 Yel Soybeans 492-1/2b up 2-3/4 \n Sun Seeds - oil type\n M-no quote \n D-no quote \n Reuter\n\u0003",
"date": " 7-APR-1987 15:57:29.05",
"id": "14555"
},
{
"title": "CRYODYNAMICS <CRYD> WARRANTS CONVERTED",
"body": "Cryodynamics Inc said it\nreceived 1,575,000 dlrs through a warrant conversion program\nthat ended March 31.\n The company said 85.5 pct of its one mln outstanding\nwarrants were converted to common stock. It said it now has\n7,500,000 common shares outstanding.\n The money generated by the warrant conversion has been\nadded to working capital, the company said.\n Reuter\n\u0003",
"date": " 7-APR-1987 15:59:13.12",
"places": [
"usa"
],
"id": "14556"
},
{
"title": "MOODY'S DOWNGRADES DAYTON HUDSON'S 1.3 BILLION DLRS OF DEBT\n",
"date": " 7-APR-1987 15:59:54.76",
"id": "14557"
},
{
"title": "SUN <SUN> RAISES HEATING OIL BARGE PRICE",
"body": "Sun Co's Sun Refining and Marketing Co\nsubsidiary said it raised the price it charges contract barge\ncustomers for heating oil in New York harbor by 0.50 cent a\ngallon, effective today.\n The increase brings the contract barge price to 50.50 cts a\ngallon, Sun said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:00:22.38",
"topics": [
"heat"
],
"places": [
"usa"
],
"id": "14558"
},
{
"title": "WALL STREET STOCKS LOWER IN LATE TRADING",
"body": "Wall Street stock prices were pounded\nlower late this afternoon by futures related sell programs and\nstrong profit taking. A weak bond market ignited concern about\nrising interest rates and inflation, triggering the selloff,\ntraders said.\n The Dow Industrials fell 39 points to 2367.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:01:00.66",
"id": "14559"
},
{
"title": "U.S. SELLING 13.2 BILLION DLRS OF 3 AND 6-MO BILLS APRIL 13 TO PAY DOWN 12.35 BILLION DLRS\n",
"date": " 7-APR-1987 16:01:17.93",
"places": [
"usa"
],
"id": "14560"
},
{
"title": "LEVITT <LVT> FILES FOR DEBENTURE OFFERING",
"body": "Levitt Corp said it filed with the\nSecurities and Exchange Commission a registration statement\ncovering a 25 mln dlr issue of convertible subordinated\ndebentures due 2012.\n Proceeds from the offering will repay the company's debt\nand will be used for general corporate purposes.\n Levitt designs, builds and sells single-family homes and\nhas recently begun a number of new construction projects,the\ncompany added.\n Bear, Stearns and Co and Merrill Lynch Capital Markets have\ntentatively been named as underwriters.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:01:35.34",
"places": [
"usa"
],
"id": "14561"
},
{
"date": " 7-APR-1987 16:01:52.04",
"id": "14562"
},
{
"title": "SPORTSCENE ACQUIRES CHRISTOPHE VAN HOUTTE CHAIN",
"body": "(Sportscene Restaurants Inc) said it\nacquired (Cafe Christophe Van Houtte Inc), a cafe chain with\nten franchises and one corporate restaurant, for an unspecified\namount of cash and Sportscene shares.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:02:01.73",
"topics": [
"acq"
],
"places": [
"canada"
],
"id": "14563"
},
{
"date": " 7-APR-1987 16:02:11.72",
"id": "14564"
},
{
"date": " 7-APR-1987 16:03:40.48",
"id": "14565"
},
{
"title": "U.S. CONSUMER CREDIT ROSE 1.77 BILLION DLRS IN FEB VS REVISED 789 MLN JAN GAIN\n",
"date": " 7-APR-1987 16:03:45.50",
"topics": [
"instal-debt"
],
"places": [
"usa"
],
"id": "14566"
},
{
"title": "NYSE TUMBLES 45 POINTS ON PROFIT TAKING AND FUTURES RELATED SELL PROGRAMS, TRADERS SAY\n",
"date": " 7-APR-1987 16:03:56.13",
"id": "14567"
},
{
"date": " 7-APR-1987 16:04:17.52",
"id": "14568"
},
{
"title": "RONSON CORP <RONC> 4TH QTR DEC 31",
"body": "Shr loss 21 cts vs loss seven cts\n Net loss 971,000 vs loss 318,000\n Revs 8.3 mln vs 9.2 mln\n Year\n Shr loss 43 cts vs profit 14 cts\n Net loss 1.9 mln vs profit 606,000\n Revs 32.5 mln vs 31.9 mln\n NOTE:1986 loss includes reserves of 329,000, 1985 includes\ntax benefit of 352,000, 96,000, and 570,000 dlrs.1986 4th qtr\nincludes 850,000 dlrs writedowns, 499,000 dlr gain from sale.\n 1985 net includes extraordinary items of 108,000 and gain\non sale of 1.6 mln dlrs , tax carryforward gain of 246,000\ndlrs.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 16:04:29.87",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14569"
},
{
"date": " 7-APR-1987 16:04:39.57",
"id": "14570"
},
{
"title": "IRAQ REPORTS FIERCE FIGHTING TO REMOVE IRANIANS",
"body": "Iraq said its forces were battling to\ndislodge Iranian troops from territory they gained during a new\nthree-pronged offensive on the war front near the southern city\nof Basra.\n The third High Command communique issued during the day\nsaid the Iranians launched a major overnight assault on the\nfronts of three Iraqi divisions, the Qutaiba, Muthanna and\nMohammed al-Qassem forces.\n The communique said the Iranian troops which attacked the\nQutaiba front were annihilated but the invading force managed\nto gain some footholds on the other fronts.\n \"Fierce fighting has been raging since dawn today and all\nmorning where our forces succeeded in dislodging the Iranians\nfrom all the positions they gained at the Muthanna front and\nthe situation ended in Iraq's favour,\" the communique said.\n It said Iraqi forces were continuing counter-attacks to\ndrive the Iranians from the few positions they were still\nholding on the front of the Mohammed al-Qassem forces.\n The precise locations of the three fronts were not given. A\nprevious Iranian offensive launched in January towards Basra,\nIraq's second city, was halted with Baghdad saying the Iranians\nhad gained only a narrow strip of Iraqi territory.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:07:09.50",
"places": [
"iran",
"iraq"
],
"id": "14571"
},
{
"title": "WESTMIN TO RAISE MYRA FALLS CAPACITY BY 33 PCT",
"body": "Westmin Resources Ltd said it\nplans to increase capacity at its Myra Falls, British Columbia,\nbase and precious metal mine and mill complex by 33 pct to\n4,400 short tons of ore a day, subject to regulatory approvals.\n The company said the expansion will cost about 24 mln dlrs\nand could be in operation by 1988.\n Economies of scale from the expansion should pay back net\nexpansion cost in less than one year, Westmin said.\n The Myra Falls complex processed 3,257 tons of ore a day\nduring 1986. Myra Falls 1986 production was 44,000 ounces of\ngold, 966,266 ounces of silver, 45.5 mln lbs of copper, 96.2\nmln lbs of zinc and 777,000 lbs of lead, a company spokesman\nsaid.\n Myra Falls 1986 production was 44,000 ounces of gold,\n966,266 ounces of silver, 45.5 mln pounds of copper, 96.2 mln\npounds of zinc and 777,000 pounds of lead, a company spokesman\nsaid.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:07:19.60",
"topics": [
"gold",
"silver",
"copper",
"zinc",
"lead"
],
"places": [
"canada"
],
"id": "14572"
},
{
"title": "TREASURY BALANCES AT FED ROSE ON APRIL 6",
"body": "Treasury balances at the Federal\nReserve rose on April 6 to 4.262 billion dlrs from 3.876\nbillion dlrs on the previous business day, the Treasury said in\nits latest budget statement.\n Balances in tax and loan note accounts fell to 4.950\nbillion dlrs from 5.004 billion dlrs on the same respective\ndays.\n The Treasury's operating cash balance totaled 9.212 billion\ndlrs on April 6 compared with 8.880 billion dlrs on April 3.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:07:58.88",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "14573"
},
{
"title": "GENERAL PHYSICS <GPHY> TO PURCHASE SHARES",
"body": "General Physics Corp said it will\npurchase up to 100,000 shares of its common stock from time to\ntime in open market transactions.\n The purchase would represent approximately 16 pct of the\nshares in the public float, the company said. Yesterday, the\nlast bid price of General Physics common stock as quoted by\nNasdaq was 15 dlrs, the company said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:08:36.02",
"places": [
"usa"
],
"id": "14574"
},
{
"title": "ITT CORP TO BUY BACK UP TO 10 MLN SHARES OF COMMON STOCK\n",
"date": " 7-APR-1987 16:08:58.96",
"id": "14575"
},
{
"date": " 7-APR-1987 16:09:06.31",
"id": "14576"
},
{
"date": " 7-APR-1987 16:09:11.53",
"id": "14577"
},
{
"title": "KANSAS CITY TRUCK PRICES - USDA",
"body": "FOR SUPPLIES DELIVERED TO K.C.\n WINTER WHEAT\n 1 Hard Red-- Ordinary Protein\n 288-292 dn 1 \n 2 Soft Red 292-293 unch-dn 1 \n 2 YELLOW CORN 158-160 up 2-unch \n 2 YELLOW SORGHUM 271-282 unch-up 3 \n 1 YELLOW SOYBEANS 499-505 up 5 \n Reuter\n\u0003",
"date": " 7-APR-1987 16:10:26.48",
"id": "14578"
},
{
"title": "U.S. TO SELL 13.2 BILLION DLRS IN BILLS",
"body": "The U.S. Treasury said it will sell\n13.2 billion dlrs of three and six-month bills at its regular\nauction next week.\n The April 13 sale, to be evenly divided between the three\nand six month issues, will result in a paydown of 12.35 billion\ndlrs as maturing bills total 25.55 billion dlrs including the\n9-day cash management bills issued April 7 in the amount of\n11.01 billion dlrs.\n The bills will be issued April 16.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:10:37.52",
"places": [
"usa"
],
"id": "14579"
},
{
"date": " 7-APR-1987 16:11:06.34",
"id": "14580"
},
{
"date": " 7-APR-1987 16:12:18.20",
"id": "14581"
},
{
"title": "MANUFACTURERS <MHC> IN BUILDING FORECLOSURE",
"body": "Manufacturers Hanover Corp said its OFP\nInc unit acquired a Dallas office building through foreclosure.\n The company said it foreclosed on the Allied Bank Tower, a\n1.2 mln-square-feet office building at One Fountain Place,\nDallas.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:12:57.18",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14582"
},
{
"title": "TEXACO FILES IN TEXAS COURT TO ENJOIN 10.3 BILLION DLR BOND, PENNZOIL ATTORNEY\n",
"date": " 7-APR-1987 16:13:10.62",
"id": "14583"
},
{
"title": "ITT STOCK BUYBACK TO INCLUDE COMMON AND PREFERRED SHARES\n",
"date": " 7-APR-1987 16:13:22.96",
"id": "14584"
},
{
"title": "TERRACE BANK OF FLORIDA TO SELL 500,000 SHARES",
"body": "Terrace Bank of Florida said it is selling\n500,000 shares of stock at 10.50 dlrs per share in its initial\noffering.\n The organizers of the bank plan to purchase 81,000 of those\nshares, which will have a par value of five dlrs.\n Individual investors may purchase as few as 100 shares of\nthe stock, the bank said. The offering is slated to end by May\n15, but could be extended, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:14:04.82",
"places": [
"usa"
],
"id": "14585"
},
{
"title": "HI-SHEAR INDUSTRIES INC <HSI> SETS PAYOUT",
"body": "Qtrly div 11 cts vs 11 cts prior\n Pay April 28\n Record April 20\n Reuter\n\u0003",
"date": " 7-APR-1987 16:14:14.80",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14586"
},
{
"title": "COCA-COLA BOTTLING <COKE> TERMINATES TALKS",
"body": "Coca-Cola Bottling Co\nConsolidated said it terminated negotiations with the proposed\npurchaser of its wholly owned subsidiary headquartered in\nVancouver, B.C.\n The company said it is vigorously continuing its efforts to\nsell its Canadian operations, substantially on the terms and\nconditions previously announced.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:14:42.78",
"topics": [
"acq"
],
"places": [
"usa",
"canada"
],
"id": "14587"
},
{
"title": "N.Y. FCOJ FUTURES CLOSE HIGHER",
"body": "Frozen concentrated orange juice\nfutures closed 2.60 to 0.80 cents higher, though the market\nfailed to hold early gains of as much as 4.40 cents in the July\ndelivery. Estimated volume was 1,000 contracts.\n May was up 1.70 cents at 132.90 cents, off a high of 133.50\ncents. July was up 2.60 cents at 131.70 cents.\n Speculative short covering early in the session pushed the\nmarket up, after locals succeeded in triggering stops over\n132.00 cents in the May. The trade was an early buyer as well\nbut turned seller at the top, taking profits and knocking\nprices off the early highs.\n The afternoon session was quiet and prices remained steady.\nTraders said spot May now roughly reflects the ex-dock price of\nBrazilian juice.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:15:07.08",
"id": "14588"
},
{
"date": " 7-APR-1987 16:15:36.03",
"id": "14589"
},
{
"date": " 7-APR-1987 16:16:33.36",
"id": "14590"
},
{
"date": " 7-APR-1987 16:16:56.92",
"id": "14591"
},
{
"date": " 7-APR-1987 16:17:03.78",
"id": "14592"
},
{
"date": " 7-APR-1987 16:17:12.27",
"id": "14593"
},
{
"title": "ITT <ITT> TO BUY BACK COMMON, PREFERRED ISSUES",
"body": "ITT Corp said its board authorized the\nrepurchase of up to 10 mln shares of its common and preferred\nstock as market conditions warrant.\n The company said the repurchased shares will be held as\ntreasury shares.\n An ITT spokesman said the board approved the proposed stock\nbuy back as part of its program to enhance shareholder value\nand increase ITT's per-share earnings.\n He said ITT would fund the purchases with a portion of the\n1.3 billion dlrs in cash it received from selling a majority\ninterest in its telecommunications operations to <Compagnie\nGenerale d'Electricite> of France.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:17:16.94",
"places": [
"usa"
],
"id": "14594"
},
{
"title": "WINNIPEG OILSEED FUTURES END UP, GRAINS MIXED",
"body": "Winnipeg oilseed futures closed higher\nin sympathy with strength in the Chicago soybean complex, with\ngrains mixed in quiet trade.\n Rapeseed futures ended with gains of 2.60 to 3.30 dlrs per\ntonne, with flaxseed up 4.90 to 4.00 dlrs. Commission house and\ncommercial short-covering overcame moderate elevator house\nhedge selling in both oilseeds, traders said. Continued\nJapanese crusher export buying added support to rapeseed, with\nlocals net buyers in flaxseed.\n Rye finished unchanged to up 0.10 dlr, with feed grains\nranging from down 0.60 dlr in May wheat to up 0.30 in new\nDecember barley. Strength in new crop Chicago corn futures kept\ndeferreds here strong relative to nearbys. May and July oats\nagain set new contract lows.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:17:27.09",
"id": "14595"
},
{
"date": " 7-APR-1987 16:17:33.60",
"id": "14596"
},
{
"title": "WEEKLY ELECTRIC OUTPUT UP 11.1 PCT FROM 1986",
"body": "U.S. power companies generated a net\n47.68 billion kilowatt-hours of electrical energy in the week\nended April four, up 11.1 pct from 42.91 billion a year\nearlier, the Edison Electric Institute (EEI) said.\n In its weekly report on electric output, the electric\nutility trade association said electric output in the week\nended March 28 was 45.56 billion kilowatt-hours.\n The EEI said power production in the 52 weeks ended April\nfour was 2,563.61 billion kilowatt hours, up 2.4 pct from the\nyear-ago period.\n Electric output so far this year was 695.50 billion\nkilowatt hours, up 2.8 pct from 676.58 billion last year, the\nEEI said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:17:43.00",
"places": [
"usa"
],
"id": "14597"
},
{
"date": " 7-APR-1987 16:18:13.77",
"id": "14598"
},
{
"title": "U.S. DEBT FUTURES CLOSE DOWN, NEAR DAILY LOWS",
"body": "U.S. debt futures closed down and near\ndaily lows after a choppy session.\n Continued weakness in the dollar pressured the market.\nBearish sentiment prevailed despite remarks made by Federal\nReserve Chairman Paul Volcker that a further large drop in the\ndollar could be counterproductive to the world economy.\n New agreements by the G-5 and G-7 nations, which are\nmeeting this week, on stabilizing currency rates are expected\nto have little effect on the market, traders said.\n June T-bonds again failed to take out resistance at\n98-16/32 as well as fill a chart gap between 98-25/32 and\n99-16/32.\n CBT T-bonds closed 28/32 to 30/32 point lower, T-notes fell\n20/32 and muni bonds ended down one point. IMM T-bills ranged\nfrom 7 basis points lower to 2 basis points higher and\nEurodollars closed down 6 to 11 basis points.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:18:33.15",
"id": "14599"
},
{
"date": " 7-APR-1987 16:18:44.38",
"id": "14600"
},
{
"title": "DAYTON HUDSON <XXX> DOWNGRADED BY MOODY'S",
"body": "Moody's Investors Service Inc said it\ndowngraded Dayton Hudson Corp's 1.3 billion dlrs of debt.\n The agency cut to Aa-3 from Aa-2 Dayton Hudson's senior\nnotes, debentures, revenue bonds and Eurodebt, and shelf\nregistration to Provisional Aa-3 from Provisional Aa-2.\n Moody's said it expected that leverage, which has risen\nbecause of an aggressive expansion program, would remain high\ndue to the company's spending plans. The agency noted that\nDayton Hudson's operating returns recently declined.\n But Moody's also said the company's recent operating\nproblems would probably be temporary.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:18:56.67",
"places": [
"usa"
],
"id": "14601"
},
{
"date": " 7-APR-1987 16:19:02.02",
"id": "14602"
},
{
"title": "JAPANESE CRUSHERS BUY CANADIAN RAPESEED",
"body": "Japanese crushers bought 5,000 tonnes\nof Canadian rapeseed in export business overnight for late\nMay/early June shipment, trade sources said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:19:28.00",
"topics": [
"oilseed",
"rapeseed"
],
"places": [
"usa",
"japan"
],
"id": "14603"
},
{
"title": "CAREPLUS <CPLS> SEEKS APPROVAL IN ACQUISITION",
"body": "CarePlus Inc said it will seek shareholder\napproval of its proposed acquisition of certain assets and\nassumption of certain liabilities of Professional Care Inc\n<PCI>.\n In connection with the acquisition, shareholders will be\nrequested to approval the merger of CarePlus into its newly\nformed Delaware subsidiary, CarePlus said.\n CarePlus said its board has tentatively determined that its\nstock would be exchanged for common stock of the new\ncorporation at the rate of seven for one.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:20:08.05",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14604"
},
{
"title": "WALL STREET CLOSE SHARPLY LOWER",
"body": "Wall Street's fears about interest\nrates and inflation were reignited today, triggering a sharp\nselloff in active trading. Profit taking and arbitrage related\nsell programs, taking a cue from falling bond prices, combined\nto pound the market sharply lower.\n The Dow Jones Industrial Average, which soared 85 points to\nrecord levels in the past two sessions, tumbled 45 points to\nclose at 2361 today. It was the fourth biggest decline in the\nmarket's history. Declines led advances three-one as volume\nrose to 188 mln shares from the 174 mln that traded on Monday.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:20:26.65",
"id": "14605"
},
{
"title": "N.Y. PHYSICAL COFFEE MARKET SEES LIGHT BUSINESS",
"body": "The New York physical coffee market was\nlightly traded today, dealers said.\n Indonesian EK-Ones afloat sold for 86.00 cents a lb,\nex-dock New York.\n Colombians sold for 108.50 cents a lb gross, ex-dock New\nYork, dealers said. The Colombian rebate today was 6.4 cents.\n Mexican prime-washed beans were offered for spot shipment\nat 9.0 cents under the May futures, with buyers' ideas at 10.0\ncents under, ex-dock. Mexicans were also offered for April/May\nshipment at 9.25 cents under the May futures, dealers said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:20:32.21",
"id": "14606"
},
{
"date": " 7-APR-1987 16:20:39.49",
"id": "14607"
},
{
"title": "SOUTHERN UNION <SUG> TO SELL NOTES, DEBENTURES",
"body": "Southern Union Co said it filed with\nthe Securities and Exchange Commission a registration statement\ncovering a 50 mln dlr offering of 10-year notes and a\nsame-sized issue of 30-year debentures.\n Proceeds will be used to redeem three outstanding debenture\nissues and repay two outstanding note issues.\n The company named Goldman, Sachs and Co as sole manager of\nthe note and debenture offerings.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:20:57.66",
"places": [
"usa"
],
"id": "14608"
},
{
"title": "CANADA STOCKS CLOSE LOWER ON PROFIT TAKING",
"body": "Toronto stocks, higher at midsession,\nclosed lower as a bout of profit taking on Wall Street spilled\nover to Canadian markets, analysts said.\n The composite index dipped 10.20 points to 3871.00,\nalthough advances narrowly led declines 518 to 507 on very busy\nvolume of 39.7 mln shares. The 300-share composite index soared\n139 points in the last three sessions.\n \"By and large, we had a good dose of profit taking today,\"\nMaison Placements Canada Inc analyst John Ing commented. \"It is\nmore developments in the U.S. that appear to be influencing\nstock prices up here,\" he added.\n Interlisted issues led the Toronto market lower, analyst\nIng said. Seagram fell 2-1/8 to 100-3/8, Northern Telecom slid\n1-1/2 to 58-1/2 and leading active trader Canadian Pacific lost\n1/4 to 24-3/4.\n Forest product stocks, making strong gains in recent\nsessions, traded mixed. MacMillan Bloedel lost 3/8 to 28-3/4,\nthird top active British Columbia Forest Products was unchanged\nat 20-3/4 and Canfor Corp rose 1/2 to 35 dlrs.\n Consolidated-Bathurst firmed 1/8 to 21-1/8. It said it\nexpects the improvement in the pulp and paper sector shown in\nthe second half of 1986 to continue this year.\n Gold producer Galactic Resources jumped 1-1/8 to 10-3/8. It\nsaid yesterday it plans to merge with Quartz Mountain Gold and\nsaid Cornucopia Resources granted an option to enter in a\nNevada joint venture.\n Other precious metals strengthened against the lower trend.\nHemlo Gold advanced 7/8 to 27-1/4 and Lacana Mining climbed\n1-3/8 to 18-1/2. Base metal stocks turned lower in the\nafternoon after early gains. Falconbridge eased 1/8 to 19-3/4,\nInco slipped 1/8 to 21-5/8 and Noranda lost 1/8 to 32 dlrs.\n Montreal's market portfolio index fell 12.52 points to\n1922.51. The Vancouver index rose 9.9 points to 1883.9.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:22:00.0",
"id": "14609"
},
{
"date": " 7-APR-1987 16:22:07.17",
"id": "14610"
},
{
"title": "U.S. ENERGY FUTURES SETTLE WITH MODEST GAINS",
"body": "U.S. energy futures posted modest gains\nbecause of a supply squeeze in physical North Sea Brent crude\noil\nand escalation of the Iran/Iraq war, traders and analysts said.\n May crude closed 17 cts higher to 18.84 dlrs.\n \"Energy futures were led by the 15-day forward Brent Crude\nmarket in Europe, said Robert Murphy, account executive at E.F.\nHutton and Company Inc, adding, \"crude futures could jump above\n19 dlrs a barrel but will not remain there long if products are\nnot strong,\" he added.\n April Brent rose as high as 19.57 dlrs a barrel today.\n Traders said reports that Iran opened a new southern front\nand Iraq attacked Iranian oil fields were also supportive.\n Murphy said tonight's American Petroleum Institute report\nwill need to show drawdowns in gasoline and distillate of two\nto four mln barrels each to support firmer crude prices.\n \"There is a lot of gasoline around,\" Murphy said.\n Following crude futures, May gasoline closed 0.33 cent\nhigher at 53.27 cts a gallon after trading 8,700 contracts. May\nheating oil traded only 7,200 contracts and was up 0.45 cent at\n49.24 cts.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:22:50.75",
"id": "14611"
},
{
"title": "U.S. FEB CONSUMER CREDIT ROSE 1.77 BILLION DLRS",
"body": "U.S. consumer instalment credit rose\na seasonally adjusted 1.77 billion dlrs in February after a\nrevised rise of 789 mln dlrs in January, the Federal Reserve\nBoard said.\n The annual rate of growth in February was 3.7 pct, up from\n1.6 pct in January. Previously the Fed said consumer credit\nrose 536 mln dlrs in January.\n Among the credit categories, auto credit rose in February\nby 717 mln dlrs after increasing 416 mln dlrs in January, the\nFed said.\n Revolving credit in February rose 1.04 billion dlrs after\nfalling by 23 mln dlrs in January.\n Mobile home credit was down by 59 mln dlrs in February\nafter rising 141 mln dlrs in January.\n The category referred to as \"other,\" covering bank and credit\nunion loans, increased by 74 mln dlrs in February after rising\nby 255 mln dlrs in January, the Fed said.\n Before seasonal adjustment, consumer credit outstanding\ntotaled 576.05 billion dlrs at the end of February, compared\nwith 530.41 billion dlrs at the end of February, 1986.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:25:07.29",
"topics": [
"instal-debt"
],
"places": [
"usa"
],
"id": "14612"
},
{
"title": "YEUTTER OPPOSES U.S. RETALIATORY POWER TRANSFER",
"body": "U.S. Trade Representative Clayton\nYeutter said President Reagan should have the authority and\nresponsibility for deciding if and when to award import relief.\n \"As the only nationally-elected official in the government,\nonly the president can weigh all the factors that go into\ndetermining whether or not it is in the national economic\ninterest to do so,\" he said in a prepared address to the\nUniversity of Chicago's Graduate School of Business.\n Yeutter was commenting on proposed changes in the law which\nwould transfer to the trade representative much of the current\nretaliatory power held by the White House, which has been the\ntarget of congressional dissatisfaction on trade issues.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:25:16.59",
"places": [
"usa"
],
"id": "14613"
},
{
"title": "GULF EDIBLE OIL PRICES - April 7",
"body": "quoted in cents per lb versus nearby\nCBT soyoil contracts.\n Crude degummed soybean oil NOLA - April offered 0.40 over,\nbid 0.10 over. May offered 0.45 over, bid 0.25 over. June\noffered 0.50 over, bid 0.40 over. July through September\noffered 0.60 over, bid 0.50 over.\n Sunflowerseed oil - May through September offered 0.95\nover, bid 0.75 over.\n PBSY Cottonseed oil - April/May offered 4.25 over, bid 3.60\nover. June offered 4.50 over, bid 3.75 over. July through\nSeptember offered 4.75 over, bid 4.00 over.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:25:55.30",
"id": "14614"
},
{
"title": "TEXACO <TX> FILES TO ENJOIN 10.3 BILLION DLR BOND",
"body": "Texaco Inc made a filing in a Texas\nCourt of Appeals to enjoin the enforcement of the 10.3 billion\ndlr judgement pending appeal, an attorney for Pennzoil Co <PZL>\nsaid.\n \"They made the filing in the First Court of Appeals in\nTexas,\" said John Jeffers, an attorney at the Houston law firm\nof Baker and Botts representing Pennzoil.\n A Spokesman for Texaco had no immediate comment. Attorneys\nrepresenting Texaco were not immediately available.\n The filing follows yesterday's decision by the U.S. Supreme\nCourt, overturning a lower federal court decision that had cut\nTexaco's bond to one billion dlrs. The high court ruled that\nthe issue should first be considered by Texas state courts.\n Texaco yesterday said it would soon file to prevent\nenforcement of the bond, but it was unsure whether it would\nmake the filing in a District Court, the Court of Appeals or\nthe Texas Supreme Court.\n Jeffers said Texaco chose the Appeals Court because it\ncurrently has jurisdiction in the case.\n According to Texas state law, Texaco could be forced to\npost the full amount of the judgement as a bond. If it failed\nto do so, Pennzoil could seek liens on Texaco's assets for the\namount of the judgement.\n Texaco's filing contains a request to cut the amount of the\nbond to between one and 1.5 billion dlrs, Jeffers said. Asked\nwhat Pennzoil's thought of that amount, he said, \"I don't think\nit's enough.\"\n Pennzoil has repeatedly said it would not seek to force\nTexaco to post the full amount of the judgement in the form of\na bond, but has said it would seek other forms of security.\n \"We've recognized there are other alternatives to a bond,\"\nJeffers, the Pennzoil attorney, said.\n Pennzoil will also have the right to respond to the filing\nbut Jeffers said he was unsure when the response would be made.\n The dispute between Texaco and Pennzoil stems from the 1984\ntakeover of Getty Oil Co by Texaco. Pennzoil said the merger\nviolated a prior agreement it had to buy Getty and sued Texaco.\nSince then, Pennzoil's position has twice been upheld by Texas\nState Courts. The Judgement now stands at 10.3 billion dlrs,\nincluding interest, and is on appeal.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:26:32.79",
"places": [
"usa"
],
"id": "14615"
},
{
"title": "MOODY'S AFFIRMS UNITED TECHNOLOGIES <UTX> DEBT",
"body": "Moody's Investors Service Inc said it\naffirmed the debt ratings of 3.7 billion dlrs of debt of United\nTechnologies Corp and its units.\n Affirmed were the Aa-3 senior debt of the parent and its\nunits United Technologies Credit Corp, United Technologies\nFinancial Services Inc, United Technologies Finance N.V.,\nCarrier Corp and Carrier International Finance N.V. Also\naffirmed were the parent's Prime-1 commercial paper, Aa-3\nEuroyen bonds and A-1 preferred stock. United Technologies\nCredit Corp's A-1 subordinated debt was also affirmed, Moody's\nsaid.\n Moody's cited its expectations that the company's programs\nwill be successful in lowering operating costs and improving\nintermediate-term capital management. This will raise financial\nmeasures from current low levels.\n As operating earnings and cash flow of the companies\nincrease as a result of the programs, balance sheet leverage\nwill decrease, the agency noted.\n United Technologies and its units face strong competition\nbut they all dominate their markets, Moody's pointed out.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:26:44.48",
"places": [
"usa"
],
"id": "14616"
},
{
"date": " 7-APR-1987 16:27:07.95",
"id": "14617"
},
{
"title": "YEUTTER CALLS TEXTILE BILL \"PURE PROTECTIONISM\"",
"body": "U.S. Trade Representative Clayton\nYeutter said a textile bill, widely expected to be offered as\nan amendment to trade legislation on the House or Senate floor,\nis \"pure protectionism.\"\n \"Its attachment to a trade bill would kill the bipartisan,\ncooperative spirit needed to produce growth-oriented,\nmarket-opening legislation,\" he said in a speech prepared for\nthe University of Chicago's Graduate School of Business.\n President Reagan vetoed that bill last year and would\nalmost certainly reject this year's bill, he added.\n \"We simply cannot accept legislation that would provoke\nretaliation against American exporters, destroy the Uruguay\nRound, and embroil us in dozens of trade wars,\" the trade\nrepresentative said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:27:38.98",
"places": [
"usa"
],
"id": "14618"
},
{
"title": "GROUP TO BUY MORE INTERMEDICS <ITM> SHARES",
"body": "An investor group including Bessemer\nSecurities Corp and Cilluffo Associates told the Securities and\nExchange Commission it asked federal antitrust regulators for\nadvance clearance to hold more than 30 mln dlrs of Intermedics\nInc common stock.\n The group said it currently holds 1.8 mln shares or 17.6\npct of the total outstanding following purchases of 84,300\nshares March 18-April 1. A group spokesman would not disclose\nthe total purchase price of its current holdings.\n The group has said it is accumulating Intermedics stock for\ninvestment purposes.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:28:16.27",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14619"
},
{
"date": " 7-APR-1987 16:28:30.50",
"id": "14620"
},
{
"date": " 7-APR-1987 16:28:39.99",
"id": "14621"
},
{
"title": "SEAGATE TECHNOLOGY <SGAT> 3RD QTR MARCH 3 NET",
"body": "Shr 81 cts vs 24 cts\n Net 40,453,000 vs 11,833,000\n Sales 267.1 mln vs 127.0 mln\n Avg shrs 50,226,000 vs 48,337,000\n Nine Mths\n Shr 2.07 dlrs vs 38 cts\n Net 102,564,000 vs 18,127,000\n Sales 708.0 mln vs 318.3 mln\n Avg shrs 49,573,000 vs 48,024,000\n Reuter\n\u0003",
"date": " 7-APR-1987 16:28:46.05",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14622"
},
{
"title": "GROUP RAISES TEXSTYRENE <FOAM> STAKE TO 11.7 PCT",
"body": "An investor group led by Dart\nContainer Corp, a Sarasota, Fla., plastic utensil maker, told\nthe Securities and Exchange Commission it raised its stake in\nTexstyrene Corp to 420,500 common shares or 11.7 of the total\noutstanding.\n The group said it bought the shares for investment and\nintends to continue to buy Texstyrene stock in the future.\n The group said its most recent purchases included 106,000\nshares bought March 10-31 in ordinary brokerage transactions.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:28:54.61",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14623"
},
{
"date": " 7-APR-1987 16:29:18.72",
"id": "14624"
},
{
"date": " 7-APR-1987 16:30:15.84",
"id": "14625"
},
{
"title": "ENRO HOLDING BUYS ENRO SHIRT AND FOXCROFT",
"body": "Enro Holding Corp said it acquired Enro\nShirt Co and Foxcroft Ltd from Wilson Bros for 30 mln dlrs.\n Enro Holding is owned 50 pct by investors and 50 pct by\nmanagement and others. The investor group bought 50 pct of the\ncommon equity and supplied five mln dlrs in mezzanine\nfinancing. Management bought the other 50 pct. Congress\nFinancial Group supplied 28 mln dlrs in senior financing and\nthe seller took back a note for 12.1 mln dlrs.\n Enro Shirt has annual sales of about 42 mln dlrs and\nFoxcroft has sales of about 13 mln dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:30:30.46",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14626"
},
{
"title": "NEBRASKA FEEDLOT CATTLE UP 0.50/1.00 DLR - USDA",
"body": "slaughter cattle prices rose 0.50 to 1.00\ndlr amid good buyer demand and fairly good seller interest, the\nusda said.\n steers - mostly choice 2-4 1100-1350 lbs 68.00-69.00 fob\nand delivered.\n heifers - mostly choice 2-4 975-1150 lbs 66.00-67.00 fob\nand delivered.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 16:31:09.69",
"id": "14627"
},
{
"date": " 7-APR-1987 16:31:13.70",
"id": "14628"
},
{
"title": "SPARTECH <SPTN> REVERSE STOCK SPLIT APPROVED",
"body": "Spartech Corp said shareholders at the\nannual meeting approved a reverse stock split of the common\nstock, on a one-for-five basis.\n The company said the split was necessary in preparation for\nan offering of 25 mln dlrs in convertible subordinated\ndebentures, expected to be made soon through Kidder, Peabody\nand Co.\n It said the new common stock will begin trading April 8\nunder the symbol \"SPTNd.\"\n Separately, Spartech said its board appointed Bradley\nBuechler as president, filling a vacancy.\n It said Lawrence Powers remains as chairman.\n Buechler, prior to his promotion, was executive vice\npresident and chief operating officer. He will retain his\nduties as chief operating officer.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:31:20.59",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14629"
},
{
"title": "PEOPLE RIDESHARING SYSTEMS <RIDE> 1ST QTR NET",
"body": "Shr primary profit two cts vs loss nine cts\n Shr diluted profit one cent vs loss six cts\n Net profit 17,156 vs loss 89,594\n Revs 2,360,220 vs 3,208,802\n Avg shrs 870,000 vs 1,026,627\n NOTE: full name of company is People Ridesharing Systems\nInc.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:33:01.98",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14630"
},
{
"title": "SUPERMARKETS GENERAL <SGL> AFFIRMED BY S/P",
"body": "Standard and Poor's Corp said it\naffirmed the A-minus rating on Supermarkets General Corp's\n12.2 mln dlrs of industrial revenue bonds.\n S and P cited the withdrawal by Dart Group of its 1.73\nbillion dlr bid for Supermarkets General.\n Supermarkets General had been under review for possible\ndowngrade because of the Dart Group bid. However, S and P\npointed out that Dart is still interested in Supermarkets\nGeneral and the possibility exists that another party would try\nto acquire the company.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:33:30.58",
"places": [
"usa"
],
"id": "14631"
},
{
"title": "ITT CORP TO REDEEM THREE SERIES OF PREFERRED STOCK\n",
"date": " 7-APR-1987 16:33:32.61",
"id": "14632"
},
{
"title": "GAO FARM CREDIT PLAN SUPPORTED BY KEY LAWMAKER",
"body": "An influential member of Congress\nendorsed a General Accounting Office, GAO, proposal calling for\nestablishing a federal board to oversee government assistance\nto the financially-troubled farm credit system.\n Rep. Ed Jones, D-Tenn., chairman of the House Agriculture\nsubcommittee which will draft a farm credit rescue package\nlater this year, told reporters following testimony by\nComptroller General Charles Bowsher, that establishing a\nfederal board to implement the rescue is a good idea.\n \"I like the idea of an additional layer of management\" to\noversee the rescue, Jones told reporters.\n Rep. Jones made the remarks following a hearing at which\nthe General Accounting Office, GAO, outlined its suggestions\nfor a bail-out of the system.\n Comptroller General Bowsher proposed Congress set up a\nstrong board, modeled on the example of the successful Chrysler\nloan guarantee board, to make hard choices on restructuring the\nfailing system.\n The members of the board would include both representatives\nof government agencies and some independent officials, Bowsher\nproposed.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:33:45.21",
"places": [
"usa"
],
"id": "14633"
},
{
"date": " 7-APR-1987 16:35:19.04",
"id": "14634"
},
{
"title": "BRAZIL'S DEBT CRISIS BECOMING POLITICAL CRISIS",
"body": "Brazil's financial crisis is rapidly\nbecoming a political and social crisis, and President Jose\nSarney faces increasingly serious questions about his future.\n As Brazil enters debt talks with creditors in the United\nStates this week, political analysts say Sarney's\nadministration has never appeared weaker.\n The full political price which Sarney will have to pay for\nthe failure of the much-vaunted anti-inflation Cruzado Plan is\nstill not clear. He might have to pay with the presidency.\n Calls are increasing for direct presidential elections to\npick a successor to Sarney early next year. The length of his\nterm will be decided by a Constituent Assembly, and Sarney has\nbeen lobbying for a six-year term.\n Sarney came to power, without facing presidential\nelections, in March 1985, when the military bowed out after 21\nyears of rule.\n Although there was wide public support for direct \nelections for president, the military as one of their last\nacts, insisted an electoral college, where it felt it had more\ninfluence, make the choice.\n The college chose Tancredo Neves, a popular politician who\nheaded the Brazilian Democratic Movement Party (PMDB), which\nhad opposed military rule.\n In part to smooth relations with the military, Neves chose\nSarney, a supporter of the generals, for the purely ceremonial\npost of vice-president. But Neves died before he could take\noffice and Sarney took power.\n He won the grudging support of the PMDB and the Cruzado\nPlan was wildly popular with inflation-weary Brazilians.\n But the Cruzado Plan failed and politics in Brazil has not\nbeen the same.\n \"The country is a rudderless ship,\" said a U.S. Diplomat,\nechoing a common view that the government lacks any clear idea\nof how to tackle the economic crisis.\n Sarney has appeared increasingly isolated, with criticism\ncoming from the business community, the trade unions, some of\nthe military, the media and political opponents.\n Many businessmen are unhappy with Sarney's decision\nannounced on February 20 to suspend interest payments on 68\nbillion dlrs of foreign debt.\n A motor industry executive said: \"The business community\nthinks Brazil should go to the IMF. Their rules are sometimes\nharsh and strict, but this is the only way to put the house in\norder.\"\n Trade unions generally support the debt moratorium, but\ndisagree with other aspects of government policy. Since the end\nof February they have organized national strikes of seamen,\nbankworkers and federal university teachers and countless local\nstoppages and protests.\n Economic problems have prompted criticism from some\nmilitary figures, including the last army ruler, General Joao\nFigueiredo. It is a sign of the times that almost daily\nmilitary men deny there is going to be a coup.\n If the army does stay in the barracks, the key arbitors of\nSarney's fate will be the PMDB's leaders. So far, they have not\ntaken a clear stand on the issue of direct elections.\n But one PMDB leader, Senator Affonso Camargo, pointedly\nsaid yesterday that it was the sovereign right of the\nConsituent Assembly to call direct elections for the presidency\nwhenever it wished.\n In the media, Sarney has to contend with strong criticism.\n One senior political commentator, Fernando Pedreira of the\nJornal do Brasil, wrote in the newspaper last week:\n \"President Sarney is ... a man of good intentions, but it\nis just possible that he himself is not aware of the true state\nof the country and the people since the immense failure of the\nCruzado Plan.\n \"The disappointment, the frustration, the irritation, the\nenticement have been (and continue to be) too great, too\nprofound.\"He called for direct elections early in 1988 as the\nonly way out of the present crisis.\n One of Sao Paulo's leading news magazines, Senhor, said in\nan editorial this week: \"The anarcho-populist government of\nPresident Jose Sarney has failed. Two years have already been\ntoo long for such a disastrous experience.\n \"It deserves to be buried as quickly as possible. The\nnatural solution: direct elections soon.\"\n The government's inability to control inflation is now\nbringing with it serious social problems.\n An explosion in rents in Sao Paulo has thrown tens of\nthousands of families onto the streets because they can no\nlonger afford to pay even for a wooden shack in the slums.\n The local press says the city is experiencing the biggest\nwave of land invasions in its history.\n According to rental agencies, rents have increased 500 pct\nin little more than a year. Even the cheapest shacks now cost\n2,000 cruzados (90 dollars) a month, half as much again as the\nminimum wage, which is all that many earn.\n Cardinal Paulo Evaristo Arns, the Roman Catholic archbishop\nof Sao Paulo, warned yesterday of the possibility of \"a social\nconflict of unimaginable proportions.\"\n With his back to the wall politically and with social\ntensions rising, Sarney is no position to compromise on debt.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:36:25.77",
"places": [
"brazil",
"usa"
],
"id": "14635"
},
{
"date": " 7-APR-1987 16:36:50.59",
"id": "14636"
},
{
"date": " 7-APR-1987 16:36:58.92",
"id": "14637"
},
{
"title": "WALL STREET STOCKS CLOSING AVERAGES",
"body": "Prices closed lower in active trading\non the New York Stock Exchange.\n The Dow Jones Industrial Average fell 44.60 to 2360.94\n The NYSE Index fell 2.61 to 168.35\n Declines led advances 1121 to 504\n The average share price was 67 cts lower.\n Volume was 186,410,000 shares compared to 173,720,000\nyesterday.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 16:37:45.20",
"id": "14638"
},
{
"title": "AMEX STOCK PRICES CLOSE LOWER",
"body": "Prices on the American Stock Exchange\nclosed lower in active trading.\n The AMEX Index fell 0.59 to 341.64.\n The Average price per share was three cts lower\n Declines led advances 326 to 282\n AMEX volume rose to 14,224,710 shares from 12,855,230\nyesterday.\n Options volume was 345,250 compared to 324,863 yesterday.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:38:03.98",
"id": "14639"
},
{
"title": "BRAZIL SETS UP SPECIAL DEBT COMMISSION",
"body": "Brazil has set up a special debt\ncommission, headed by Finance Minister Dilson Funaro, to be\nresponsible for renegotiating Brazil's 109 billion dollar\nforeign debt, officials said.\n The principal negotiator on the commission, created by\nPresident Jose Sarney, will be former foreign minister Ramiro\nSaraiva Guerreiro.\n Officials said Guerreiro would be joined on the commission\nby eight senior officials, including a representative of the\nNational Security Council.\n The creation of the commission is intended to underscore\nthe Brazilian government's contention that the debt issue is\nessentially political and that a political solution must be\nfound to the problem.\n On February 20 Brazil suspended interest payments on its 68\nbillion dlr foreign bank debt to try to force the issue.\n Creditor banks, however, have signalled that they are\nequally determined to resist Brazil's demands for debt relief.\n Yesterday Funaro travelled to the U.S. for fresh debt\nnegotiations with creditors deeply angered by Brasilia's\nsuspension of interest payments.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:38:42.66",
"places": [
"brazil"
],
"id": "14640"
},
{
"date": " 7-APR-1987 16:38:59.90",
"id": "14641"
},
{
"title": "DESJARDINS GROUP LOWERS VISA INTEREST RATE",
"body": "(La Confederation des Caisses\nPopulaires et d'Economie Desjardins), the Quebec credit union\ngroup, said it is lowering the interest rate on unpaid balances\non its Visa credit card to 15.9 pct from 18.0 pct, effective\nwith June billing statements.\n The move follows cuts in credit card interest rate charges\nby several Canadian banks.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:39:08.28",
"topics": [
"interest"
],
"places": [
"canada"
],
"id": "14642"
},
{
"date": " 7-APR-1987 16:39:52.77",
"id": "14643"
},
{
"date": " 7-APR-1987 16:40:24.34",
"id": "14644"
},
{
"date": " 7-APR-1987 16:40:35.33",
"id": "14645"
},
{
"title": "SEEQ TECHNOLOGY INC <SEEQ> 2ND QTR MARCH 31",
"body": "Shr profit eight cts vs loss 1.84 dlrs\n Net profit 785,000 vs loss 4,279,000\n Revs 10.4 mln vs 8,464,000\n Avg shrs 9,649,000 vs 2,664,000\n Six Mths\n Shr loss nine cts vs loss 4.09 dlrs\n Net loss 262,000 vs loss 9,689,000\n Revs 19.2 mln vs 15.6 mln\n Avg shrs 2,874,000 vs 2,660,000\n Reuter\n\u0003",
"date": " 7-APR-1987 16:40:55.16",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14646"
},
{
"title": "TX/W OKLA FEEDLOT CATTLE STDY/UP 0.50 DLR-USDA",
"body": "slaughter steers were fully steady and\nheifers steady to 0.50 dlr higher in moderate trade, the usda\nsaid.\n Feedlots reported fairly good interest and inquiry from\nbuying sources.\n Sales on 6,800 steers and 2,400 heifers. week to date\n48,900 head.\n steers - good and mostly choice 2-3 1025-1150 lbs\n69.50-70.00.\n heifers - good and mostly choice 2-3 925-1025 lbs\n68.00-68.50.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:41:13.59",
"id": "14647"
},
{
"date": " 7-APR-1987 16:41:27.15",
"id": "14648"
},
{
"title": "N.Y. OILSEEDS REPORT",
"body": "Dealers said very little business was\ndone in local oilseeds markets.\n Coconut oil was nominally 18 cents a lb for April/May\nshipment, CIF, New York/Gulf, brokers said.\n Crude wet-milled corn oil, FOB, Midwest points, was\nnominally 20-3/4 cents a lb for nearby shipment. Based on that\nprice, dealers said refined corn oil, FOB, New York, was\nnominally 27.15 cents a lb.\n Peanut oil remained offered at 24-1/2 cents a lb for nearby\nshipment but dealers said market interest was closer to 24\ncents.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:41:49.12",
"id": "14649"
},
{
"date": " 7-APR-1987 16:42:10.10",
"id": "14650"
},
{
"title": "BAHIA COCOA FUTURES CLSG",
"body": "Closing prices on the Bahia Cocoa\nFutures Market were as follows (in cruzados per 60 kilo bag\ndelivered Ilheus/Itabuna with previous in brackets) -\n May 2,560 (2,560) volume 23 lots\n July 3,248 (3,248) volume nil\n September 3,865 (3,772) volume 23 lots\n December 5,084 (5,000) volume nil\n Contract in 50 bags\n REUTER\n\u0003",
"date": " 7-APR-1987 16:42:20.99",
"id": "14651"
},
{
"title": "LITTLE INDUSTRY IMPROVEMENT - DATA GENERAL <DGN>",
"body": "Data General Corp president Edson de\nCastro said the general outlook for his company and for the\nindustry shows \"little fundamental improvement.\"\n Citing the computer industry's dependence on capital\ninvestments, de Castro termed the environment \"lackluster\" and\ndeclined to predict the timing of a possible upturn.\n Data General is \"taking its show on the road\" to educate\nits customers and targeted prospects, de Castro told a press\nbriefing initiating a three-day exposition here of Data\nGeneral's computer systems' capabilities.\n Data General has targeted for its future growth increased\nparticipation in the industries of banking, insurance,\nbrokerage, health care, manufacturing, petrochemical and the\nU.S. government.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:43:17.73",
"places": [
"usa"
],
"id": "14652"
},
{
"title": "MINNEAPOLIS HFCS TRADE PUT AT 109 CONTRACTS",
"body": "An estimated 109 high fructose corn\nsyrup futures contracts traded today in the contract's second\nday of trading at the Minneapolis Grain Exchange (MGE), an\nexchange spokesman said.\n Trading was down from yesterday's 137 contracts. Open\ninterest yesterday totaled 42, the spokesman said.\n July HFCS futures closed at 12.70 dlrs per cwt, up 50 cents\nfrom its open of 12.20 dlrs. September closed at 12.35 dlrs, up\n55, and December settled at 11.70 dlrs with no trades, up 20\ncents from yesterday's close, the source said.\n\n Reuter\n\u0003",
"date": " 7-APR-1987 16:44:04.16",
"id": "14653"
},
{
"title": "DOLLAR ENDS WITH MODEST LOSSES IN NEW YORK",
"body": "The dollar ended with modest net losses\nagainst most major currencies as the market conducted a final\nround of position-squaring ahead of tomorrow's crucial Group of\nFive and Group of Seven meetings, dealers said.\n \"The dollar was trendless today. People are waiting to see\nif anything new comes from the meetings tomorrow and will then\ntake it from there,\" said one dealer at a top European bank.\n As a result, generally supportive comments by Federal\nReserve Chairman Paul Volcker and Japanese Finance Minister\nKiichi Miyazawa went largely unheeded.\n The dollar closed at 145.60/70 yen, down from 145.85/90.\n However, the dollar's yen closing level was comfortably\nabove its overseas low of just under 145 yen. Against the mark,\nthe dollar finished at 1.8270/80 marks after falling to 1.8180\nin Europe and ending at 1.8260/70 here yesterday.\n In Congressional testimony this morning, Fed Chairman Paul\nVolcker harped on his long-held fears about the potentially\ncatastrophic fallout from a sharp dollar decline.\n He also said the dollar's fall, thus far, should be \"large\nenough, in a context of a growing world economy and fiscal\nrestraint in the U.S., to support widespread expectations of a\nnarrowing in the real trade deficit in the period ahead.\"\n The market impact of Volcker's comments was minimal. \"It\nwas the same old story. Volcker was just fulfilling his role as\na defender of the currency,\" said one trader.\n The market was similarly dismissive of Japanese Finance\nMinister Kiichi Miyazawa's upbeat appraisal of his hour-long\nconversation with U.S. Treasury Secretary James Baker this\nafternoon.\n Miyazawa said that they both agreed on the need for\ncurrency stabilization and that he was satisfied with the role\nthe U.S. has played in coordinated international efforts to\nprop up the dollar since the late February Paris agreement.\n \"Miyazawa can talk until he's blue in the face. The only\nperson who will make a difference is Baker,\" said Alan Rose of\nFirst Interstate Bank in Los Angeles.\n \"The key question for the currency market is whether the\n(Reagan) administration will have a change of view on the\ndollar. If not, the dollar is going lower,\" he added.\n The dollar's recent tumble to a 40-year low of 144.70 yen\nwas linked to the market's perception that Washington was\nunhappy with the rate of adjustment of world trade imbalances\nand that a continued orderly dollar decline was the least\ndisruptive way of accelerating the process.\n While most analysts do not expect any marked change of\nattitude in Washington, they were reluctant to open any fresh\npositions until later in the week.\n \"We are reserving judgement for the time being,\" said Doug\nMadison of Commerzbank Ag.\n The tranquility of the dollar market spread to sterling\ntrading today. The pound ended unchanged against the dollar at\n1.6175/85 and edged up to 2.957 marks from 2.955 yesterday.\n However, underyling sentiment remains positive after a U.K.\nopinion poll gave the ruling Conservative party its highest\npopularity rating since it was re-elected in 1983.\n \"Sterling still seems to be on the firm side,\" said one\ndealer.\n The Canadian currency also retained a generally stronger\ntone, rising to 1.3055/60 to its U.S. counterpart from\n1.3080/85 yesterday.\n According to figures provided by Morgan Guaranty Trust Co,\nthe dollar's trade-weighted value at midday was 5.7 pct below\naverage market rates in 1980-82, compared with 5.5 pct\nyesterday.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:45:58.29",
"id": "14654"
},
{
"date": " 7-APR-1987 16:46:14.77",
"topics": [
"cruzado",
"money-fx"
],
"places": [
"brazil"
],
"id": "14655"
},
{
"title": "SENATE EXTENDS DAIRY COMMISSION REPORT",
"body": "The Senate approved legislation to\nextend until March 31, 1988 the date for the National\nCommission on Dairy Policy to report on the federal milk price\nsupport program and the dairy industry.\n The report is to recommend whether the Agriculture\nDepartment should have continued authority to reduce the milk\nprice support level.\n The one year extension was required due to delays in\nsetting up the commission.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:46:31.43",
"places": [
"usa"
],
"id": "14656"
},
{
"title": "CENTRAL U.S. CARLOT PORK TRADE - USDA - APRIL 7",
"body": "1500 cst.\n Fresh pork loins 14-18 lbs generally steady and 18-22 lbs\nsteady/up 2.00 dlrs, boston butts generally steady, skd hams\noff 9.00/14.00 dlrs and sdls bellies steady/up 2.00 dlrs.\n trade moderate to active for light to moderate offerings\nand demand.\n Sales reported on 61 loads of fresh pork cuts and two loads\nof trimmings and boneless processing pork.\n FRESH PORK CUTS - FOB OMAHA BASIS\n 22.0 Loins - Regular - 14-18 94.00-103.00\n 1.5 18-22 98.00-100.00\n 2.0 Boston Butts - 4-8 70.00-75.00\n Picnics - no trade\n Skinned Hams -\n 7.0 17-20 70.50-73.50\n 8.0 20-26 70.00-70.50\n Sdls Bellies, Skin on fresh -\n 1.0 10-12 58.00\n 5.0 12-16 59.50-62.00\n 5.0 16-18 57.00-59.00\n 3.0 18-20 52.00-53.00\n 2.0 20-25 48.00-49.50\n Reuter\n\u0003",
"date": " 7-APR-1987 16:46:40.64",
"id": "14657"
},
{
"date": " 7-APR-1987 16:48:16.82",
"id": "14658"
},
{
"date": " 7-APR-1987 16:48:46.01",
"id": "14659"
},
{
"date": " 7-APR-1987 16:48:53.65",
"id": "14660"
},
{
"date": " 7-APR-1987 16:49:07.73",
"id": "14661"
},
{
"date": " 7-APR-1987 16:49:59.95",
"id": "14662"
},
{
"date": " 7-APR-1987 16:50:05.59",
"id": "14663"
},
{
"title": "U.S.-SDR RATE MOVES TO 1.28435",
"body": "The International Monetary Fund said\nthe exchange value of the U.S. dollar against the SDR was\n1.28435 compared with 1.28224 yesterday and 1.06584 on July 1,\n1974.\n Other currency values against the SDR (July 1, 1974 rates\nin parentheses) were:\n Deutsche Mark 2.33983 (3.06809)\n French Franc 7.78573 (5.82126)\n Japanese Yen 186.937 (343.773)\n Pound Sterling 0.792907 (0.505474)\n Australian Dlr 1.81329 (0.809889)\n Aust Schilling 16.4384 (22.0097)\n Belgian Franc 48.4585 (45.9249)\n Canadian Dlr 1.67646 (1.16295)\n Danish Krone 8.82862 (7.23304)\n Ecuadoran Sucre N/A (30.1503)\n Indonesian Rupiah 2111.47 (501.291)\n Iranian Rial 92.3000 (81.6734)\n Italian Lira N/A (779.746)\n Kuwait Dinar 0.350461 (0.351685)\n Dutch Guilder 2.64062 (3.20316)\n Norwegian Krone 8.75413 (6.59386)\n N/A--not available.\n Saudi Arab Riyal 4.80989 (4.25788)\n S.A. Rand 2.61578 (0.80200)\n Spanish Peseta 163.996 (69.0742)\n Swedish Kronor 8.14920 (5.31489)\n Swiss Franc 1.94130 (3.19548)\n U.A.E. Dirham 4.71485 (4.76057)\n Venezuelan Bolivar N/A (5.08749)\n S.A. Rand July 2, Australian Dlr Aug 1, Canadian Dlr July\n2, Indonesian Rupiah July 19, Venezuelan Bolivar Aug 27,\nIranian Rial July 22, Saudi Riyal Aug 9, all 1974. Swiss Franc\nSept 16, 1975. N/A--not available\n Reuter\n\u0003",
"date": " 7-APR-1987 16:50:17.69",
"id": "14664"
},
{
"title": "REPUBLICBANK <RPT> DEBT DOWNGRADED BY S/P",
"body": "Standard and Poor's Corp said it\ndowngraded RepublicBank Corp's 550 mln dlrs of debt.\n Cut were the firm's senior debt to BBB-plus from A,\nsubordinated debt to BBB from A-minus and preferred stock to\nBB-plus from BBB. Its A-2 commercial paper was maintained.\n S and P said the action reflected a heightened risk profile\nfor RepublicBank because of its proposed acquisition of\nInterFirst Corp <IFC>. However, the agency pointed out that the\nmerger is a unique opportunity for RepublicBank to expand its\nalready strong market position. InterFirst will remain on\ncreditwatch until the transaction is closed, S and P said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:51:44.31",
"places": [
"usa"
],
"id": "14665"
},
{
"title": "NACCO INDUSTRIES <NC> TO REPORT 2ND QTR GAIN",
"body": "Nacco Industries Inc said it will\nreport a gain in the second quarter of about 11.5 mln dlrs or\n1.25 dlrs a share from the sale of stock of a subsidiary.\n Nacco said its North American Coal Corp unit has received\nnotice that Consolidation Coal Co, a unit of Du Pont Co <DD>,\nwill exercise an option to buy all of the stock of Quarto\nMining Co, a subsidiary of North American Coal.\n For the stock, North American Coal will receive about 15.2\nmln dlrs, 5.2 mln of which will be paid at closing April 10 and\nthe rest in installments, the company said.\n In addition, Quarto will pay a dividend to North American\nCoal of about 10 mln dlrs from retained earnings before\nclosing. The funds were previously used to finance mining\noperations.\n Consolidation Coal got the option from the Capco Group of\nutilities, which received the option from Nacco in 1981.\n Nacco reported earnings of 10.8 mln dlrs or 1.11 dlrs a\nshare in last year's second quarter.\n In 1986, Quarto generated 5.9 mln dlrs in net income, equal\nto 62 cts a share, of Nacco's total 1986 earnings of 3.48 dlrs\na share.\n Quarto produced about 3.6 mln short tons of the 24.3 mln\ntons produced by North American Coal in 1986, Nacco said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:51:51.90",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14666"
},
{
"title": "NYFE TO MOVE TO N.Y. COTTON EXCHANGE",
"body": "The New York Futures Exchange will move\nits trading operations to the floor of the New York Cotton\nExchange, NYFE president Lewis J. Horowitz and Cotton Exchange\npresident Joseph O'Neill announced.\n NYFE will become an affiliate of the Cotton Exchange\nthrough a licensing agreement while remaining a wholly-owned\nsubsidiary of the New York Stock Exchange.\n NYFE's trading floor and floor support staff will move to\nthe Cotton Exchange, which is located in the Commodity Exchange\nCenter at Four World Trade Center. The move should be completed\nby the first quarter of next year, a Cotton Exchange\nspokeswoman said.\n The plan was approved today by the board of the Cotton\nExchange and previously by the New York Stock Exchange.\n The move will offer traders from both exchanges access to\neach other's contracts. Cotton exchange members will have\ntrading rights to NYFE's New York Stock Exchange composite\nindex futures and options contracts and its Commodity Research\nBureau Index contract.\n NYFE members will have the opportunity to trade the Cotton\nExchange's U.S. dollar index futures and options contracts and\nits European Currency Unit futures contract. They will not have\ntrading rights to cotton and frozen concentrated orange juice\nfutures.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:52:16.34",
"places": [
"usa"
],
"id": "14667"
},
{
"title": "INTERFACE FLOORING SYSTEMS <IFSIA> IN OFFERING",
"body": "Interface Flooring Systems Inc\nsaid it announced a public offering of 2,800,000 shares of the\ncompany's Class A common stock at a price of 21.25 dlrs per\nshare.\n The underwriting group was co-managed by the\nRobinson-Humphry Co Inc, and PaineWebber Inc, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:53:17.51",
"places": [
"usa"
],
"id": "14668"
},
{
"title": "CASH WHOLESALE PORK PRICES",
"body": "CLOSE CDT APRIL 7\n CENTS PER LB CHANGE\n BELLIES\n 12-14 61-1/2 up 1-1/2\n 14-16 61-1/2 up 1-1/2\n 16-18 57-58-1/2 unch-up 1-1/2\n HAMS\n 14-17 74-1/2 no comparison\n 17-20 73-73-1/2 unch\n LOINS\n 14-18 98-101 unch to up 1\n 18-22 100 unch\n Reuter\n\u0003",
"date": " 7-APR-1987 16:53:25.91",
"id": "14669"
},
{
"title": "SENATE EXTENDS DAIRY COMMISSION REPORT",
"body": "The Senate approved legislation to\nextend until March 31, 1988 the date for the National\nCommission on Dairy Policy to report on the federal milk price\nsupport program and the dairy industry.\n The report is to recommend whether the Agriculture\nDepartment should have continued authority to reduce the milk\nprice support level.\n The one year extension was required due to delays in\nsetting up the commission. \n Reuter\n\u0003",
"date": " 7-APR-1987 16:54:25.54",
"places": [
"usa"
],
"id": "14670"
},
{
"title": "BRAZILIAN SOYBEAN AND PRODUCT MARKET",
"body": "Brokers reported the following\nBrazilian soybean and product basis levels.\n SHIPMENT BASIS CBT MONTH PREV\n Soybean (cents per bushel)\n Fob Paranagua\n May 2/1 D May unch\n Jun/Jly 2/1 D Jly unch\n Aug 3/2 D Aug unch\n Fob Rio Grande\n May 9/7 D May unch\n Jun/Jly 12/9 D Jly unch\n SHIPMENT BASIS CBT MONTH PREV\n Soybean Pellets (dlrs per short ton 48 pct profat)\n Fob Paranagua\n Apr/Sep 8/10 P May/Sep 8.5/10 P\n May 7.5/9 P May 8/9.5 P\n May/Sep 7/8 P May/Sep 7.5/8.5 P\n Jun/Jly 6/7.5 P Jly unch\n Soybean Meal (dlrs per short ton 45/46 pct profat)\n Fob Rio Grande\n May 4.5 PB May 3 PB\n SHIPMENT BASIS CBT MONTH PREV\n Soybean Oil (points per lb, crude, degummed)\n Fob Paranagua\n May 260/230 D May 270/250 D\n Jun 290/280 D Jly 290/280 D\n Jun/Jly 300/270 D Jly 320/300 D\n Aug 290/280 D Aug unq\n REUTER\n\u0003",
"date": " 7-APR-1987 16:55:22.87",
"id": "14671"
},
{
"title": "BUFFTON <BUFF> TO POST INVESTIGATION CHARGE",
"body": "Buffton Corp said it will \nconduct an investigation on a plant designated as a Superfund\nSite, which will result in a charge of about six cts per share\nin its second quarter.\n In the year ago second quarter, Buffton reported net income\nof 10 cts a share or 330,000 dlrs on sales of 10.3 mln dlrs.\n The study should be completed in nine months and will\ndetermine any clean-up or remedial action that may be required.\nRobintech Inc, the plant's former owner, will split the cost.\nBuffton said its share will cost 400,000 dlrs.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:55:32.67",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14672"
},
{
"title": "CASH WHOLESALE BEEF PRICES",
"body": "CLOSE CDT APRIL 7\n CENTS PER LB CHANGE\n CHOICE STEERS\n YIELD GRADE 3\n 600/700 98-1/2b no comparison\n 700/800 98-1/2b no comparison\n 800/900 98-1/2b no comparison\n CHOICE HEIFERS\n 500/550 87-88 unch\n 550/700 97-1/2-98 no comparison\n Reuter\n\u0003",
"date": " 7-APR-1987 16:55:37.58",
"id": "14673"
},
{
"title": "YEUTTER BLAMES OVERPRODUCTION FOR TRADE PROBLEMS",
"body": "Over-investment and over-production are\nat the root of many of the difficult trade issues that have\nsoured relations between the United States and some of its\nmajor trading partners, trade representative Clayton Yeutter\nsaid.\n He told a conference, held by the University of Chicago's\nGraduate Business School, that much of this was caused by\ngovernments \"getting their finger in the pot.\"\n Yeutter referred specifically to the problems of\nagricultural trade, where subsidized exports have been a point\nof contention most notably between the United States and the\nEuropean Community.\n \"Think of the vast waste of financial and other resources,\"\nhe said.\n Yeutter said much of the problem underlying the dispute\nwith Japan over semiconductors was due to overproduction.\n The trade representative called for a long-term approach to\ninternational trade and said the recent commitment to a\nfree-trade agreement between the United States and Canada was a\nstep in the right direction.\n There's a lot of work to be done in the next six months,\nbut we have set October 1 as a target date for an agreement to\nbe reached, he added.\n \"We're trying to create an environment that will facilitate\nand foster free and open trade in the world,\" he said.\n Reuter\n\u0003",
"date": " 7-APR-1987 16:55:46.03",
"places": [
"usa"
],
"id": "14674"
},
{
"title": "ASCS TERMINAL MARKET VALUES FOR PIK GRAIN",
"body": "The Agricultural Stabilization and\nConservation Service (ASCS) has established these unit values\nfor commodities offered from government stocks through\nredemption of Commodity Credit Corporation commodity\ncertificates, effective through the next business day. \nPrice per bushel is in U.S. dollars. Sorghum is priced per CWT,\ncorn yellow grade only.\n WHEAT HRW HRS SRW SWW DURUM\n Chicago --- 3.03 3.24 --- --- \n Ill. Track --- --- 2.99 --- --- \n Toledo --- 3.03 3.04 2.99 --- \n Memphis --- --- 3.07 --- --- \n Peoria --- --- 2.96 --- --- \n HRW HRS SRW SWW DURUM\n Denver 2.65 2.66 --- --- --- \n Evansville --- --- 3.01 --- --- \n Cincinnati --- --- 2.99 --- --- \n Minneapolis 2.70 2.70 --- --- 3.80\n Baltimore/\n Norf./Phil. --- --- 3.07 2.92 --- \n Kansas City 2.98 --- 3.18 --- --- \n St. Louis 2.90 --- 2.90 --- --- \n Amarillo/\n Lubbock 2.64 --- --- --- --- \n HRW HRS SRW SWW DURUM\n Lou. Gulf --- --- 3.17 --- ---\n Portland/\n Seattle 3.11 3.12 --- 3.00 3.80\n Stockton 2.71 --- --- --- ---\n L.A. 3.19 --- --- --- 4.20\n Duluth 2.70 2.70 --- --- 3.80\n Tex. Gulf 3.14 --- 3.17 --- ---\n CORN BRLY OATS RYE SOYB SORG\n Chicago 1.55 --- --- --- 5.01 2.63\n Ill Track 1.58 2.04 --- --- 5.06 2.70\n Toledo 1.55 2.04 1.55 --- 5.04 2.63\n Memphis 1.64 1.95 1.76 --- 5.12 2.74\n Peoria 1.59 --- --- --- 5.01 2.76\n Denver 1.66 1.66 --- --- --- 2.76\n Evnsvlle 1.63 2.04 1.55 2.02 5.07 2.77\n Cinci 1.60 2.04 1.55 2.04 5.06 2.72\n Mpls 1.49 1.75 1.55 1.70 4.92 ---\n Balt/Nor/\n Phil 1.77 1.80 --- --- 5.24 3.04\n CORN BRLY OATS RYE SOYB SORG\n KC 1.55 1.66 1.70 --- 4.94 2.71\n St.Lo 1.62 --- 1.71 --- 5.07 2.89\n Amarlo/\n Lubbck 1.89 1.52 --- --- 4.90 3.17\n Lou Gulf 1.81 --- --- --- 5.29 3.26\n Port/\n Seattle 1.96 2.11 1.55 --- --- ---\n Stockton 2.30 2.26 1.94 --- --- 3.95\n LA 2.67 2.43 --- --- --- 4.58\n Duluth 1.49 1.75 1.55 1.70 4.92 ---\n Tex Gulf 1.79 1.54 1.87 --- 5.29 3.22\n Reuter\n\u0003",
"date": " 7-APR-1987 16:57:38.08",
"id": "14675"
},
{
"title": "SUMMER/WINTER TIME CHANGES.",
"body": "ISRAEL INTRODUCES SUMMER TIME.\n\u0003",
"date": " 7-APR-1987 16:57:42.43",
"id": "14676"
},
{
"date": " 7-APR-1987 16:58:09.02",
"id": "14677"
},
{
"title": "N.Y. RUBBER REPORT",
"body": "SIR 20 from Palembang traded for April\nshipment at 34-1/2 cents a lb and 34-5/8 cents a lb, FOB,\nsight, brokers said.\n SIR 20 from Padang traded for April shipment at 34-5/8\ncents a lb, FOB, sight, brokers said.\n Belawan SIR 20 was offered but unsold for April shipment at\n35 cents a lb, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:00:19.47",
"id": "14678"
},
{
"title": "AMERICAN DYNAMICS <AMDC> TO SELL 51 PCT STAKE",
"body": "American Dynamics Corp and\n<Meridian Reserve Inc> said they signed a definitive agreement\nunder which Meridian will buy 81.9 mln shares, or 51 pct, of\nAmerican Dynamics' common stock.\n Under terms of the agreement, Santa Ana, Calif.-based\nMeridian said it will pay Columbus-based American Dynamics one\nmln dlrs in cash and notes over five years and about 500,000\nshares of its common stock.\n Meridian said it has the option to issue an additional\n1,500,000 shares of its common over the next two years in\npayment of certain of the notes.\n Meridian, an oil and gas company whose operations are\nprimarily in Oklahoma, said the acquisition will increase its\nits consolidated assets to 30 mln dlrs and its contractually\ncommitted gas reserves to more than 40 mln dlrs at discounted\npresent value.\n American Dynamics is engaged in gas gathering, transmission\nand liquids extraction, also in Oklahoma.\n The companies said they have five extracting plants and\nabout 525 miles of transmission lines in five adjoining\nOklahoma counties.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:00:29.92",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14679"
},
{
"title": "ITT <ITT> TO REDEEM THREE PREFERRED ISSUES",
"body": "ITT Corp said it will redeem the\noutstanding shares of its four-dlr convertible series H,\n4.50-dlr convertible series I and four-dlr convertible series J\ncumulative preferred stock.\n ITT said the shares will be redeemed for 100 dlrs a share\nplus dividend accrued through June eight, the redemption date.\n ITT said the right to convert the series H issue will end\nJune one, while the right to convert the series I and J issues\nwill end June eight.\n ITT has about 124,000 shares of series H outstanding,\n839,000 shares of series I and 142,000 shares of series J.\n Earlier today the company said its board authorized the buy\nback of up to 10 mln shares of common and preferred stock.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:00:40.26",
"places": [
"usa"
],
"id": "14680"
},
{
"title": " COMMODITY RESEARCH BUREAU PRICES INDEX New York,",
"body": "THE COMMODITY RESEARCHBUREAU FUTURES PRICES INDEX Apr\n7 - 212.28 up 1.71 COMPARED WITH 210.2 unch year ago.\n (BASE 1967 EQUALS 100).\n IMPORTS 311.72 up 4.12\n INDUSTRIES 227.11 up 1.38\n GRAINS 162.80 up 0.82\n OILSEEDS 182.03 up 2.98\n LIVESTOCKS/MEATS 204.40 unch \n PRECIOUS METALS 334.78 up 5.09\n MISCELLANEOUS 269.98 up 2.68\n ENERGY 163.55 up 1.08\n INTEREST RATES 104.25 off 0.57\n CURRENCY 123.18 up 0.19\n Reuter\n\u0003",
"date": " 7-APR-1987 17:00:50.28",
"id": "14681"
},
{
"date": " 7-APR-1987 17:01:06.32",
"topics": [
"sugar",
"ship"
],
"places": [
"usa"
],
"id": "14682"
},
{
"date": " 7-APR-1987 17:01:13.94",
"id": "14683"
},
{
"title": "CONRAIL FILES PETITION AGAINST ERIE <ERIE>",
"body": "Erie Lackawanna Inc said Consolidated\nRail Corp filed with the U.S. Supreme Court seeking review of a\nCourt of Appeals opinion which held Erie as not being liable\nfor damages allegedly resulting from operations prior to its\nemergence from reorganization in 1982.\n The claims are for damages for asbestosis and other\nwork-related injuries claimed by former employees of the Erie\nLackawanna.\n Erie said it intends to oppose Conrail's request.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:02:10.25",
"places": [
"usa"
],
"id": "14684"
},
{
"title": "BOXED BEEF CUT-OUT VALUE/MOVEMENT-USDA",
"body": "boxed beef movement and demand very\ngood amid light to moderate supplies.\n Estimated gross boxed beef cut-out for tuesday, April 7,\n1987, choice 2-3 550-700 lb carcasses up 1.19 at 103.24, \n700-850 lbs up 2.12 at 103.78 and goods 2-3 up 1.15 at 99.75.\n These values based on carlot prices of fabricated beef\ncuts, FOB omaha basis and industry yields.\n CH 2-3 CH 2-3 GD 2-3 fab cut trmgs\n 550/700 700/850 550/up loads loads\n tues 4/7 103.24 103.78 99.75 414 113\n mon 4/6 102.05 101.66 98.60 87 12\n tues 3/31 102.42 102.30 98.75 182 45\n FOB OMAHA CHOICE 2-3 550/700 WGT VALUE CHANGE PRICE\n 112 RIBEYE LIP ON 11-dn 10.85 dn 7.00 3.20 \n 120 BRISKET 6-10 2.89 up 2.00 1.06 \n 126 ARM CHUCK 55-82 22.78 up 3.00 0.96 \n 167 KNUCKLE 8-11 3.93 up 3.00 1.37 \n 168 TOP ROUND 14-20 9.08 up 3.00 1.56 \n 170 BOTTOM ROUND 18-25 8.57 unch 1.18 \n 180 STRIP LOIN 10-12 11.14 unch 2.85 \n 184 TOP BUTT 10-12 6.27 up 1.00 1.85 \n 189 TENDERLOIN 5-7 6.94 unch 3.40n\n Reuter\n\u0003",
"date": " 7-APR-1987 17:02:18.41",
"id": "14685"
},
{
"date": " 7-APR-1987 17:02:48.51",
"topics": [
"money-fx"
],
"places": [
"ussr"
],
"id": "14686"
},
{
"title": "REUTER COMMODITY HIGHLIGHTS 2100 GMT APRIL 7",
"body": "U.S. trade reprepresentative Clayton Yeutter said\nthat if Congress were to require trade retaliation, it would\nonly close markets and would result in less trade.\n Many Congressional proposals do not appear to be overtly\nprotectionist, yet their undeniable effect would be to close\noff market opportunitites, just as exchange rate movement is\nunleashing such opportunities for the first time in several\nyears, he said in remarks prepared for an address to members of\nthe University of Chicago's Graduate School of Business.\n CHICAGO - The rally in soybean prices may prompt farmers to\nplant more soybean acres than the USDA projected in last week's\nacreage report, especially if new crop futures stay above the\npsychologically important 5.00 dlr a bushel mark, traders and\nanalysts said.\n NEW YORK - Magma Copper Co, a subsidiary of Newmont Mining\nCorp, said it is lowering its copper cathode price by 0.50 cent\nto 65.50 cents a lb, effective immediately.\n LONDON - Brazil is likely to adopt a conservative coffee\nsales policy given the absence of International Coffee\nOrganization export quotas, at least until October this year,\naccording to the latest monthly coffee report from London trade\nhouse E.D. and F. Man.\n LONDON - Delegates to this week's quarterly session of the\nInternational Tin Council expect Indonesia to vote for an\nextension of the sixth International Tin Agreement.\n HAVANA - Cuban president Fidel Castro told a congress of\nthe union of young communists here that the production of crude\nsugar during the harvest still in progress is 800,000 tonnes\nbehind schedule.\n In a speech Sunday, published in today's official paper\nGranma, Castro said unseasonable rains since January seriously\ninterrupted harvesting and milling operations, especially in\nthe central and western parts of the island.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:03:11.63",
"id": "14687"
},
{
"title": "GRAIN SHIPS LOADING AT PORTLAND",
"body": "There were six grain ships loading and\nsix ships were waiting to load at Portland, according to the\nPortland Merchants Exchange.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 17:03:15.38",
"topics": [
"grain",
"ship"
],
"places": [
"usa"
],
"id": "14688"
},
{
"title": "ITALY'S ENI TO INVEST IN VENEZUELAN PROJECTS",
"body": "Italy's state-owned Ente Nazionale\nIdrocarburi (ENI) will invest 197 mln dlrs in two joint\nventures in coal and petrochemicals with Petroleos de\nVenezuela, S.A, ENI president Franco Reviglio said.\n Speaking at a news conference, Reviglio said the two\nprojects will eventually bring in some 300 mln dlrs annually in\nforeign exchange to Venezuela and help diversify the country's\nexport base. \"Joint ventures are the principal instrument for\nallowing the resources of the industrialized countries to be\nchanneled to the developing world so as to lead future growth\nfor both,\" Reviglio said.\n ENI's subsidiary Ecofuel will join Pequiven, the\npetrochemical subsidiary of PDVSA in building a 160 mln dlr\nplant to produce mtbe, a gasoline additive used to increase\noctane levels.\n The 500,000 mt per year plant will be constructed at Jose\nin eastern Venezuela, and fed by butane produced at PDVSA's\neastern cryogenic complex. ENI owns 48 pct of the joint venture\ncompany, Super Octanos, C.A., while Pequiven has 49 pct, with\nthe remaining three pct to be sold to private investors.\n Production is set to begin in third quarter 1989. Ecofuel\nofficials said the plant is modeled after one in Saudi Arabia.\n Another ENI subsidiary, Agip Carbone, will sign a letter of\nintent in Caracas tomorrow to enter a partnership with PDVSA to\nmine the coal deposits at guasare in western zulia state, he\nsaid.\n Feasibility studies are still being done on the carbozulia\nproject, with a definitive accord slated for august, he added.\n Agip carbone and atlantic richfield coal, an arco\nsubsidiary have formed a consortium which will own 48 pct of\nthe carbozulia project, whose total cost is estimated at 500\nmln dlrs, the company said. Agip carbone will invest 24 pct, or\n120 mln dlrs, in the project, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:05:21.95",
"topics": [
"pet-chem"
],
"places": [
"venezuela",
"italy"
],
"id": "14689"
},
{
"title": "BRAZILIAN DOMESTIC SOYBEAN AND PRODUCT",
"body": "Brokers reported the following\ndomestic prices for Brazilian soybean and products (byr/slr\nunless stated) -\n TODAY PREV\n Soybean (cruzados per 60-kilo bag)\n P.Grossa 196.00 B unch\n Interior\n R.Grande\n Do Sul 175.00 T 185.00 T\n TODAY PREV\n Soybean Pellets (cruzados per kilo)\n Parana 3.70 S unch\n Paranagua 3.65 B 3.50 B\n Soybean Oil (cruzados per kilo, inc 12 pct sales tax,\nimmediate deliv, 30 days pymt)\n Sao Paulo 8.65/8.80 unch\n REUTER\n\u0003",
"date": " 7-APR-1987 17:05:45.17",
"id": "14690"
},
{
"title": "DREXEL TELLS U.S. STOCK BUYERS TO LOOK ABROAD",
"body": "Drexel Burnham Lambert Inc is telling\nclients getting nervous about the volatile U.S. stock market to\ntake a look at European and other foreign stock markets.\n \"We're still pushing for a fully invested position (in U.S.\nstocks) but we also recognize the market is up 40 pct since\nSeptember,\" says Burton Siegel, investment strategist.\n Rein van der Does, director of international research,\nadmits to being cautious and somewhat confused about certain\ndevelopments in the Tokyo market, such as Nippon Telephone\nshares trading at 250 times earnings.\n The firm recently dropped its recommendation on Jaguar plc\n<JAGRY> following a sharp runup in the shares. About the same\ntime, says analyst Khaled Abdel Majeed, Drexel issued a buy\nrecommendation on the West german automaker BMW.\n He says a new plant and new models brighten the outlook for\n1987 and 1988. \"The company trades in Germany on the parent\ncompany's earnings but on worldwide consolidated earnings, the\nmultiple is seven or eight, half that of competitors.\"\n By contrast Jaguar's share price to earnings multiple is\nabout 12 and Daimler-Benz AG is around 14 or 15.\n Drexel analyst Lucille Palermo recently upgraded\nrecommendations on some Canadian gold stocks. With no recession\nin sight she sees improved physical demand plus new buying\ninterest from the Middle East. Also, expectation of a higher\ninflation rate stimulates demand.\n On the supply side she thinks \"people are overlooking the\nproblems in South Africa.\" Palermo says all of this will push\nthe bullion price to 475 dlrs an ounce by the end of the year.\n Her current buy recommendations are Agnico-Eagle Mines Ltd\n<AEAGF>, American Barrick Resources Corp <ABX>, and Echo Bay\nMines Ltd <ECO>.\n Palermo also believes the overall Canadian stock market has\ngreater potential this year than last. Although the Canadian\ndollar has moved up slightly it is below levels of several\nyears ago. \"Canadian exports of all types look relatively cheap\nto foreigners - resources, manufactured goods, bonds and\nstocks.\"\n Other European stocks favored by Drexel include Club\nMediterranee <CMI>, Pernod-Ricard, Royal Dutch Petroleum <RD>,\nUnilever <UN>, British Petroleum Co plc <BP> and Imperial\nChemical Industries plc <ICI>. Drexel cautions U.S. investors\nthat foreign dividends may be subject to withholding tax.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:06:45.01",
"places": [
"usa"
],
"id": "14691"
},
{
"title": "EASTERN KANSAS FEEDLOT CATTLE STEADY - USDA",
"body": "slaughter cattle steady in slow trade\namid moderate demand, the usda said.\n sales confirmed on 400 steers and 1,100 heifers. week to\ndate 2,700 head.\n steers - choice with end good 2-3 1075-1100 lbs 69.25.\n heifers - choice with end good 2-3 975-1025 lbs\n67.00-68.00.\n\n Reuter\n\u0003",
"date": " 7-APR-1987 17:06:53.65",
"id": "14692"
},
{
"date": " 7-APR-1987 17:10:26.80",
"id": "14693"
},
{
"title": "WESTERN KANSAS FEEDLOT CATTLE STDY/UP 0.50 - USDA",
"body": "slaughter cattle steady to firm,\ninstances up 0.50 dlr, in moderate trade amid good demand, usda\nsaid.\n sales confirmed on 3,100 steers and 3,700 heifers. week to\ndate 27,100 head.\n steers - mostly choice 2-3 1150-1175 lbs 69.75-70.00.\n heifers - mostly choice 2-3 950-1050 lbs 68.50-68.75.\n\n Reuter\n\u0003",
"date": " 7-APR-1987 17:10:32.88",
"id": "14694"
},
{
"date": " 7-APR-1987 17:12:45.49",
"id": "14695"
},
{
"title": "TEXACO CONFIRMS IT FILED PETITION FOR RELIEF FROM BOND PROVISIONS IN TEXAS APPEALS COURT\n",
"date": " 7-APR-1987 17:12:47.97",
"places": [
"usa"
],
"id": "14696"
},
{
"title": "REPUBLICBANK <RPT> TO RECLASSIFY BRAZIL LOANS",
"body": "RepublicBank Corp said it has placed\n182.6 mln dlrs of all intermediate and term loans to Brazil on\na non-accrual basis as of March 31.\n It said the reclassification will reduce first quarter\nearnings by 2.8 mln dlrs after taxes, and 11 mln dlrs after\ntaxes for all of 1987, if Brazil does not change its position\nof a moratorium on interest payments.\n RepublicBank also said its net income for the first quarter\nis expected to be about 10.4 mln dlrs or 30 cts a share on a\nfully diluted basis. In the year-ago first quarter the company\nearned 23.1 mln dlrs or 75 cts a share.\n The company also said its first quarter results are\nexpected to include a provision for loan losses of 55 mln dlrs,\nabout 20 mln dlrs over net loan-charge-offs of about 35 mln\ndlrs. It said the provision will increase loan losses to about\n328 mln dlrs or 2.2 pct of loans.\n RepublicBank, with total assets of about 21 billion dlrs,\nannounced in December an agreement with InterFirst Corp <IFC>\nto form First RepublicBank Corp. If the merger is approved by\nregulatory agencies and stockholders, it would create the 12th\nlargest bank holding company in the United States.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:12:58.40",
"topics": [
"earn"
],
"places": [
"usa",
"brazil"
],
"id": "14697"
},
{
"title": "SUPPLIES, MIDEAST TENSION FUEL GAINS IN OIL",
"body": "Petroleum futures rallied today in a\nmarket that was expecting declines in domestic supplies and\nbecame further unsettled by escalated Mideast fighting.\n Crude oil, gasoline and heating oil all posted gains on the\nNew York Mercantile Exchange, with crude oil prices matching\nlife-of-contract highs. Crude for delivery in May closed 17\ncents higher at 18.84 dlrs a barrel.\n \"Crude futures could jump above 19 dlrs a barrel but will\nnot remain there long if products are not strong,\" Robert\nMurphy, account executive at E.F. Hutton, said.\n Traders said prices were supported by anticipation that the\nAmerican Petroleum Institute would report a decline in domestic\ninventories of petroleum products in a weekly report.\n Traders said prices also were supported by an escalation in\nthe Iran-Iraq war, with the Iranians reportedly launching a new\noffensive against Iraqi positions, and Iraq attacking offshore\noil fields and an oil export depot.\n Buying by speculators continued to prompt gains in gold and\nsilver futures on the Commodity Exchange in New York.\n Gold prices retreated at midday, but rallied before the\nclose with support from the silver market, which was\napproaching two-year highs, traders said.\n Soybean futures posted strong gains on the Chicago Board of\nTrade, while corn and wheat were mostly higher.\n Traders said cash sales have been slow in the country, and\nthe soybean harvest in Brazil has been delayed by rain, which\nis limiting supplies.\n In addition, the Agriculture Department last week projected\na substantial drop in soybean acreage this year. Monday's\nreport that the USDA inspected 46 mln bushels of corn for\nexport last week was unexpectedly high and, coupled with a lack\nof farm sales, provided support for the corn market, traders\nsaid.\n Live hogs and frozen pork bellies rallied on the Chicago\nMercantile Exchange, while cattle ended lower.\n Live hogs pushed ahead on a lack of supplies because many\nfarmers are turning their attention to spring planting rather\nthan marketing livestock, traders said, noting that cash sales\nhave been lighter than expected this week.\n The lack of marketing also has supported pork bellies, but\nprices drifted lower for moderate losses in nearby months as\nspeculators sold contracts to take profits, traders said.\n Cattle prices closed lower but continued to show strength\nrelated to tight supplies.\n Prices pushed ahead to new contract highs, extending gains\npast three-year peaks set Monday, as tight supplies forced meat\npackers to bid aggressively for available animals.\n However, some traders sold contracts to take profits after\nthe extended rally, which has seen the April delivery contract\nsoar to 69.90 cents a pound from 56 cents a pound at the start\nof the year.\n New York coffee futures closed higher on trade talk Brazil\nwould not be an aggressive seller near term, analysts said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:13:10.04",
"topics": [
"crude",
"gas",
"heat"
],
"places": [
"usa"
],
"id": "14698"
},
{
"title": "U.S. STOCK INDEX FUTURES PLUMMET IN LATE TRADE",
"body": "U.S. stock index futures dropped in \nactive late afternoon trade and closed near daily lows.\n The selloff followed an early rally that had sent June S\nand P 500s to a new contract high of 306.10. Arbitrage buy\nprograms were triggered when the June S and P reached a 3.20\npoint premium over the spot index, traders said.\n However, weakness in the bond market in afternoon trade\nsparked selling in June S and Ps, sending the nearby contract\nto a discount which triggered the unwinding of buy programs,\ntraders said. June S and Ps fell through chart support at\n296.00 which also sparked technical selling.\n Value Line futures closed down 6.85 to 7.00, S and P 500\nfutures fell 7.65 to 7.85, NYSE futures dropped 4.60, and MMI\nfutures ended 10.65 to 11.00 points lower.\n\n Reuter\n\u0003",
"date": " 7-APR-1987 17:13:25.89",
"id": "14699"
},
{
"title": "CANADIAN BONDS CLOSE LOWER",
"body": "Canadian bonds extended mild losses from\nearly activity to close up to 3/4 of a point lower in moderate\ntrading, dealers said.\n The decline reflected investor concern about economic\ntrends, coupled with the sharp afternoon downturn in U.S. bond\nmarkets on firm oil prices and the uncertain outlook for the\nU.S. dollar, traders said.\n The benchmark Canada 9-1/2 pct of 2001, off 1/8 in early\ntrading, closed behind 5/8 at 105-3/4 7/8, while the 8-1/2 pct\nof 2011 lost 3/4 from last night to 96-5/8 7/8.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:14:34.73",
"id": "14700"
},
{
"date": " 7-APR-1987 17:17:34.97",
"topics": [
"grain",
"ship"
],
"places": [
"usa"
],
"id": "14701"
},
{
"title": "FOB U.S. GULF CORN VALUES SLIGHTLY FIRMER",
"body": "FOB U.S. gulf corn values were\nslightly firmer as active gulf interest boosted gulf FOB and\nCIF values today, exporters said.\n Loading programs and relatively slow country movement kept\ngulf interest lively. There were indications that 50,000 tonnes\ntraded for August shipment at 20 cents over September, that\n50,000 tonnes traded yesterday for June at 20-1/2 cents over\nJuly, and that 25,000 tonnes of number three corn traded\nyesterday off the Atlantic at 23 over May for May 1-20.\n Hard wheat offers were firm amid tight pipeline supplies.\n Dealers quoted the following afternoon FOB U.S. gulf\nvalues, basis Chicago futures, except hard red winter wheat\nbasis Kansas City. (In cents per bushel)\n Corn (Number three grade)\n April - 23 ov May bid, 26 offered.\n May - 23 ov May bid, 26 offered.\n June - 21 ov Jly bid, 23 offered.\n Soybeans\n L/H April - No bids, 26 ov May offered.\n May - No bids, 25 ov May offered.\n June - No bids, 26 ov Jly offered.\n HRW wheat\n April - No bids, 43 ov May offered.\n May - No bids, 43 ov May offered.\n June - No bids, 45 ov Jly offered.\n July - 35 ov Jly bid, 39 offered.\n August - 35 ov Sep bid, 39 offered.\n September - 36 ov Sep bid, 40 offered.\n SRW wheat\n March - No bids or offers.\n July - 15 ov Jly bid, 19 offered.\n August - 15 ov Sep bid, 19 offered.\n September - 16 ov Sep bid, 23 offered.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:19:18.58",
"id": "14702"
},
{
"date": " 7-APR-1987 17:21:34.63",
"id": "14703"
},
{
"title": "API SAYS DISTILLATE STOCKS UP 628,000 BBLS, GASOLINE UP 2.29 MLN, CRUDE UP 8.52 MLN\n",
"date": " 7-APR-1987 17:22:20.96",
"topics": [
"gas",
"crude"
],
"id": "14704"
},
{
"date": " 7-APR-1987 17:22:27.89",
"id": "14705"
},
{
"title": "SOUTHERN TEXAS GRAIN DIFFERENTIALS ADJUSTED",
"body": "Posted county prices in 99 southern\nTexas counties have been changed to reflect only one market\ndifferential instead of the usual two-terminal market pricing\nsystem, a senior Agriculture Department official said.\n Interior grain and soybean prices in the affected counties\nwill now be based solely against the Texas Gulf. Prior to the\nchange, county prices were also priced against the Amarillo\nmarket.\n The changes were made to better reflect local market\nconditions, said Ralph Klopfenstein, deputy administrator for\ncommodity operations at USDA.\n \"The Texas Gulf has always been the dominant market in those\ncounties. Amarillo never became effective for that area,\"\nKlopfenstein told Reuters.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:23:40.69",
"topics": [
"grain",
"oilseed",
"soybean"
],
"places": [
"usa"
],
"id": "14706"
},
{
"title": "TEXACO <TX> CONFIRMS TEXAS COURT FILING",
"body": "Texaco Inc said it filed a\npetition in the Texas Court of Appeals for relief of the bond\nand lien provisions of the 10.3 billion dlr judgement in its\nlegal dispute with Pennzoil Co <PZL>.\n Earlier today, a lawyer for Pennzoil told Reuters a filing\nhad been made in the Texas court of Appeals.\n \"The petition asks the court to determine a reasonable\nsecurity arrangement between Texaco and Pennzoil,\" Texaco said\nin a statement.\n Texaco also said it asked the court for a temporary\nrestraining order against Pennzoil's enforcement of the 10.3\nbillion dlr judgement until the petition is resolved.\n According to Texas law, Texaco could be forced to post the\nfull amount of the judgement as a bond. If it fails to do so,\nPennzoil could seek liens against Texaco's assets for the full\namount of the judgement.\n Yesterday the U.S. Supreme Court stuck down a lower federal\ncourt ruling which had cut Texaco's bond to one billion dlrs.\nIt said the issue should first be considered in Texas state\nCourts.\n Earlier, the attorney for Pennzoil said Texaco had\nsuggested a bond of one to 1.5 billion dlrs as a reasonable\namount in today's filing.\n But a Texaco spokesman had no immediate comment on the\nfigure.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 17:24:42.55",
"places": [
"usa"
],
"id": "14707"
},
{
"title": "U.S. CREDIT MARKETS CLOSE SHARPLY LOWER",
"body": "Firm oil prices, a sharp stock price\nfall and widespread fear that the dollar has much more room to\ndecline sent bond prices tumbling, dealers said.\n The key 7-1/2 pct Treasury bonds of 2016 fell 1-3/32 points\nto close at 95-1/32 and a 7.94 pct yield that was up 10 basis\npoints from Monday and was 1987's highest closing yield.\n \"Investors threw in the towel today. The long bond seems\nheaded for eight pct within the next few days,\" a trader said.\nThat would correspond to a price of about 94-3/8.\n Treasury bill rates increased two to eight basis points.\nNotes prices declined 1/8 to 3/4.\n Bond traders said the main negative is recent instability\nof the dollar and growing feeling that even concerted central\nbank support will not be able to prevent a further sharp\ndecline in the U.S. currency.\n The dollar came under mild downward pressure early and\nfinished with modest net losses. The currency was largely\nunaffected by generally supportive comments by Federal Reserve\nChairman Paul Volcker and Japanese Finance Minister Kiichi\nMiyazawa.\n Miyazawa once again said he and Treasury Secretary James\nBaker agree on the need for stable foreign exchange rates.\n Fed Chairman Paul Volcker told Congress that the dollar's\nfall thus far should be \"large enough, in a context of a\ngrowing world economy and fiscal restraint in the U.S., to\nsupport widespread expectations of a narrowing in the real\ntrade deficit in the period ahead.\"\n Despite favorable comments by Volcker and Miyazawa, there\nappears to be broad agreement among currency and bond market\nparticipants that a huge Federal budget deficit and a wide,\nalthough narrowing, trade gap will further depress the dollar.\nThat could mean Japanese and other foreign investors will buy\nfewer U.S. bonds or even start selling them.\n There has been no evidence of large-scale sales of U.S.\nbonds by the Japanese. Some dealers said that these investors\nactually purchased a modest amount of U.S. debt today, but they\nfocused on shorter maturities in the two-year area rather than\non long bonds.\n To the extent that overseas investors back away from the\nU.S. bond market, dealers said that higher yields will be\nneeded to lure others to take their place.\n A late Federal funds rate rise contributed slightly to the\nbond market retreat. After averaging 6.20 pct yesterday, funds\nopened at 6-1/8 pct and traded between 6-1/16 and 6-1/4 pct.\n The Federal funds rate rise occurred despite the Fed's\nunexpected direct supply of temporary reserves. The Fed\narranged two-day System repurchase agreements with funds\ntrading at 6-1/8 pct.\n Treasury bill rates increased largely in response to the\nhigher funds rate. Rates on new three and six-month bills rose\ntwo and seven basis points from Monday's auction averages to\nclose at 5.55/54 pct and 5.70/69 pct. Year bills at 5.81/80 pct\nwere up eight basis points from yesterday's close.\n Among notes, the 6-3/8s of 1989 dropped 1/8 to 99-9/16,\nwith the 7-1/4s of 1996 down 3/4 at 97-3/8.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:24:52.95",
"id": "14708"
},
{
"date": " 7-APR-1987 17:25:13.75",
"topics": [
"ship",
"crude"
],
"places": [
"usa"
],
"id": "14709"
},
{
"title": "DOLLAR ENDS WITH MODEST LOSSES IN NEW YORK",
"body": "The dollar ended with modest net losses\nagainst most major currencies as the market conducted a final\nround of position-squaring ahead of tomorrow's crucial Group of\nFive and Group of Seven meetings, dealers said.\n \"The dollar was trendless today. People are waiting to see\nif anything new comes from the meetings tomorrow and will then\ntake it from there,\" said one dealer at a top European bank.\n As a result, generally supportive comments by Federal\nReserve Chairman Paul Volcker and Japanese Finance Minister\nKiichi Miyazawa went largely unheeded.\n The dollar closed at 145.60/70 yen, down from 145.85/90.\n However, the dollar's yen closing level was comfortably\nabove its overseas low of just under 145 yen. Against the mark,\nthe dollar finished at 1.8270/80 marks after falling to 1.8180\nin Europe and ending at 1.8260/70 here yesterday.\n In Congressional testimony this morning, Fed Chairman Paul\nVolcker harped on his long-held fears about the potentially\ncatastrophic fallout from a sharp dollar decline.\n He also said the dollar's fall, thus far, should be \"large\nenough, in a context of a growing world economy and fiscal\nrestraint in the U.S., to support widespread expectations of a\nnarrowing in the real trade deficit in the period ahead.\"\n The market impact of Volcker's comments was minimal. \"It\nwas the same old story. Volcker was just fulfilling his role as\na defender of the currency,\" said one trader.\n The market was similarly dismissive of Japanese Finance\nMinister Kiichi Miyazawa's upbeat appraisal of his hour-long\nconversation with U.S. Treasury Secretary James Baker this\nafternoon.\n Miyazawa said that they both agreed on the need for\ncurrency stabilization and that he was satisfied with the role\nthe U.S. has played in coordinated international efforts to\nprop up the dollar since the late February Paris agreement.\n \"Miyazawa can talk until he's blue in the face. The only\nperson who will make a difference is Baker,\" said Alan Rose of\nFirst Interstate Bank in Los Angeles.\n \"The key question for the currency market is whether the\n(Reagan) administration will have a change of view to the\ndollar. If not, the dollar is going lower,\" he added.\n The dollar's recent tumble to a 40-year low of 144.70 yen\nwas linked to the market's perception that Washington was\nunhappy with the rate of adjustment of world trade imbalances\nand that a continued orderly dollar decline was the least\ndisruptive way of accelerating the process.\n While most analysts do not expect any marked change of\nattitude in Washington, they were reluctant to open any fresh\npositions until later in the week.\n \"We are reserving judgement for the time being,\" said Doug\nMadison of Commerzbank Ag.\n The tranquility of the dollar market spread to sterling\ntrading today. The pound ended unchanged against the dollar at\n1.6175/85 and edged up to 2.957 marks from 2.955 yesterday.\n However, underlying sentiment remains positive after a U.K.\nopinion poll gave the ruling Conservative party its highest\npopularity rating since it was re-elected in 1983.\n \"Sterling still seems to be on the firm side,\" said one\ndealer.\n The Canadian currency also retained a generally stronger\ntone, rising to 1.3055/60 to its U.S. counterpart from\n1.3080/85 yesterday.\n According to figures provided by Morgan Guaranty Trust Co,\nthe dollar's trade-weighted value at midday was 5.7 pct below\naverage market rates in 1980-82, compared with 5.5 pct\nyesterday.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:26:25.18",
"id": "14710"
},
{
"title": "YEUTTER OPPOSES U.S. RETALIATORY POWER TRANSFER",
"body": "U.S. Trade Representative Clayton\nYeutter said President Reagan should have the authority and\nresponsibility for deciding if and when to award import relief.\n \"As the only nationally-elected official in the government,\nonly the president can weigh all the factors that go into\ndetermining whether or not it is in the national economic\ninterest to do so,\" he said in a prepared address to the\nUniversity of Chicago's Graduate School of Business.\n Yeutter was commenting on proposed changes in the law which\nwould transfer to the trade representative much of the current\nretaliatory power held by the White House, which has been the\ntarget of congressional dissatisfaction on trade issues.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:29:13.08",
"places": [
"usa"
],
"id": "14711"
},
{
"title": "YEUTTER CALLS TEXTILE BILL \"PURE PROTECTIONISM\"",
"body": "U.S. Trade Representative Clayton\nYeutter said a textile bill, widely expected to be offered as\nan amendment to trade legislation on the House or Senate floor,\nis \"pure protectionism.\"\n \"Its attachment to a trade bill would kill the bipartisan,\ncooperative spirit needed to produce growth-oriented,\nmarket-opening legislation,\" he said in a speech prepared for\nthe University of Chicago's Graduate School of Business.\n President Reagan vetoed that bill last year and would\nalmost certainly reject this year's bill, he added.\n \"We simply cannot accept legislation that would provoke\nretaliation against American exporters, destroy the Uruguay\nRound, and embroil us in dozens of trade wars,\" the trade\nrepresentative said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:29:33.32",
"places": [
"usa"
],
"id": "14712"
},
{
"title": "YEUTTER BLAMES OVERPRODUCTION FOR TRADE PROBLEMS",
"body": "Over-investment and over-production are\nat the root of many of the difficult trade issues that have\nsoured relations between the United States and some of its\nmajor trading partners, trade representative Clayton Yeutter\nsaid.\n He told a conference, held by the University of Chicago's\nGraduate Business School, that much of this was caused by\ngovernments \"getting their finger in the pot.\"\n Yeutter referred specifically to the problems of\nagricultural trade, where subsidized exports have been a point\nof contention most notably between the United States and the\nEuropean Community.\n \"Think of the vast waste of financial and other resources,\"\nhe said.\n Yeutter said much of the problem underlying the dispute\nwith Japan over semiconductors was due to overproduction.\n The trade representative called for a long-term approach to\ninternational trade and said the recent commitment to a\nfree-trade agreement between the United States and Canada was a\nstep in the right direction.\n There's a lot of work to be done in the next six months,\nbut we have set October 1 as a target date for an agreement to\nbe reached, he added.\n \"We're trying to create an environment that will facilitate\nand foster free and open trade in the world,\" he said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:30:10.59",
"places": [
"usa"
],
"id": "14713"
},
{
"date": " 7-APR-1987 17:30:40.05",
"id": "14714"
},
{
"title": "AMOSKEAG BANK <AMKG> TO SEEK REHEARING",
"body": "Amoskeag Bank Shares Inc and\n<Portsmouth Savings Bank> said they will file motions for a\nrehearing with the New Hampshire Supreme Court of its March 30\nruling that overturned state regulatory approval of Amoskeag's\nacquisition Portsmouth.\n \"The ramifications of this decision, we believe, go well\nbeyond the affiliation of Amoskeag and Portsmouth Savings\nBank,\" said Amoskeag chairman William S. Bushnell.\n The transaction was opposed by a group of Portsmouth\ninvestors who wanted the bank to remain independent, according\nto press reports.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:31:25.65",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14715"
},
{
"title": "EXPORT BUSINESS - GRAINS/OILSEEDS COMPLEX",
"body": "Grain and oilseed complex export\nbusiness reported since yesterday by government agencies and\nprivate exporters -\n Japanese crushers bought a total of 5,000 tonnes of\nCanadian rapeseed in export business overnight for late\nMay/early June shipment...Results still awaited on a tender by\nJordan for 225,000 tonnes of U.S. hard and soft wheats for\nvarious April/Nov shipments under the U.S. Department of\nAgriculture's (USDA) export enhancement program...\n (Continued) - Spain will shortly sign with Saudi Arabia an\norder for an undisclosed amount of barley for April/May\ndelivery...Sesostris, the Spanish subsidiary of the\ninternational grain trader Dreyfus, sold 18,000 tonnes of\nbarley to Greece for April 14/30 delivery via Mediterranean\nports.\n Tenders - nil\n Market talk and comment - Pakistan was rumored to have\nrejected offers at its tender today for an additional 6,000\ntonnes of Malaysian PBD palm oil...\n Market talk and comment (continued) - Thailand exported\n75,160 tonnes of rice in the week ended March 31, down from\n88,785 tonnes the previous week, plus concluded advance weekly\nsales for 22,086 tonnes against 44,483 tonnes the previous\nweek...Pakistan has offered 50,000 tonnes of rice as emergency\naid in Bangladesh's current food crisis, Bangladesh commerce\nministry officials told reporters...Honduras will tender April\n13 under PL-480 for U.S. and non-U.S. flag vessels to deliver\napproximately 52,500 tonnes of various wheats in bulk with\nlaydays from June 20 through September 25, an agent for\nHonduras said...\n Market talk and comment (continued) - The Commodity Credit\nCorp reallocated 5.0 mln dlrs in credit guarantees previously\nearmarked for sales of U.S wheat to cover sales of vegetable\noil to Bangladesh, plus authorized 2.0 mln dlrs in credit\nguarantees to cover sales of seeds to Algeria and transferred\n21.0 mln dlrs in credit guarantees previously\nearmarked for sales of U.S. corn and 5.0 mln dlrs for oilseeds\nto increase available coverage on sales of U.S. poultry meat to\nIraq, the USDA said...Japan was rumored to be tendering\ntomorrow, April 8, for an undisclosed amount of optional origin\nwheat for June shipment...\n Market talk and comment (continued) - Tunisia was rumored\nto have tendered for 100,000 tonnes of optional origin soft\nwheat for May/June shipments...Egypt was rumored to be\ntendering tomorrow for 125,000 tonnes of U.S. wheat flour for\nMay/June shipment using PL-480 allocated funds...Morocco was\nrumored to be tendering Thursday, April 9, for 120,000 to\n210,000 tonnes of U.S. wheat for May/June shipment using PL-480\nfunds...Egypt was rumored to have withdrawn its tender for\n200,000 tonnes of U.S. soft wheat for May/June shipment\n...North Yemen was rumored to have taken 75,000 tonnes of\nAustralian wheat for April/May shipment and rejected U.S....\n Market talk and comment (continued) - Algeria was rumored\nto be tendering overnight for optional origin corn...Taiwan was\nrumored to be tendering overnight for 35,000 tonnes of U.S.\nsorghum...The Philippines were rumored to have rejected offers\nat a tender for 450,000 tonnes of spring wheat.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:31:51.97",
"id": "14716"
},
{
"date": " 7-APR-1987 17:33:02.34",
"id": "14717"
},
{
"title": "EGYPT SAID TO CANCEL PL480 SOFT WHEAT TENDER",
"body": "Egypt has cancelled its Export Bonus\ntender for 200,000 tonnes of soft red winter wheat for May-June\nshipment after failing to bid a price acceptable to USDA,\nprivate export sources said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:36:28.80",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"egypt"
],
"id": "14718"
},
{
"title": "DOE RECOMMENDS SPECIAL UNIT TO ENRICH URANIUM",
"body": "Energy Secretary John Herrington told\nCongress that a federally chartered corporation would be the\nbest way to manage and operate the government's uranium\nenrichment program.\n He said in a letter to Congressmen that unless the program,\nnow run by the Energy Department, is improved, sales worth five\nbillion dlrs could be lost between 1990 and 2000.\n The program now has annual commercial sales of about one\nbillion dlrs and holds 50 pct of the free world market for\nenrichment services.\n A department official said the world market for enriched\nuranium for reactors for power utilities is increasingly\ncompetitive and private entity could better tap it.\n The Administration's plan to spin off the department's \nuranium enrichment operation is in line with it effort to\nreduce the federal government's role in areas where it feels\nprivate enterprise could be more efficient.\n reuter\n\u0003",
"date": " 7-APR-1987 17:36:58.83",
"topics": [
"strategic-metal"
],
"places": [
"usa"
],
"id": "14719"
},
{
"title": "RED LION INNS L.P. BEGINS OFFERING",
"body": "Red Lion Inns L.P. said it began an\ninitial public offering of 4.9 mln units priced at 20 dlrs a\nunit.\n Proceeds and a 105.87 mln dlrs mortgage loan will be used\nto finance the acquisition of 10 Red Lion hotels, it said.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 17:37:06.15",
"places": [
"usa"
],
"id": "14720"
},
{
"title": "JORDAN BOOSTS BIDS IN EXPORT BONUS WHEAT TENDER",
"body": "Jordan has boosted its bids for U.S.\nsoft and hard wheat under Export Bonus, private export sources\nsaid.\n Jordan today bid 74 dlrs per tonne for soft wheat and 75\ndlrs per tonne for hard red winter wheat in its tender for\n225,000 tonnes of hard and soft wheat for April through\nNovember shipment. Earlier today, USDA rejected its bids of 70\ndlrs for both varieties, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:40:38.00",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"jordan"
],
"id": "14721"
},
{
"title": "MOROCCO TENDERS THURSDAY FOR PL 480 WHEAT",
"body": "Morocco will tender Thursday for\n120,000 to 210,000 tonnes of U.S. wheat, cheapest variety\npreferred, for May and June shipments under PL 480, private\nexport sources said.\n The tender will consist of three lots of up to 70,000\ntonnes each for shipment May 1-30, May 10-June 10, and May\n25-June 25, they said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:41:14.02",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"morocco"
],
"id": "14722"
},
{
"date": " 7-APR-1987 17:41:49.53",
"id": "14723"
},
{
"title": "U.S. CREDIT MARKETS CLOSE SHARPLY LOWER",
"body": "Oil price firmness, a sharp stock price\nfall and widespread fear that the dollar has much more room to\ndecline sent bond prices tumbling, dealers said.\n The key 7-1/2 pct Treasury bonds of 2016 fell 1-3/32 points\nto close at 95-1/32 and a 7.94 pct yield that was up 10 basis\npoints from Monday and was 1987's highest closing yield.\n \"Investors threw in the towel today. The long bond seems\nheaded for eight pct within the next few days,\" a trader said.\nThat would correspond to a price of about 94-3/8.\n Treasury bill rates increased two to eight basis points.\nNotes prices declined 1/8 to 3/4.\n Bond traders said the main negative is recent instability\nof the dollar and growing feeling that even concerted central\nbank support will not prevent a further drop in the dollar.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:43:35.20",
"id": "14724"
},
{
"title": "COMMODITIES TODAY IN WASHINGTON FOR APRIL 8",
"body": "House Agriculture Livestock, Dairy and Poultry\nSubcommittee reviews Agriculture Department's meat inspection\nprogram. (1000)\n -- Agriculture Department releases weekly world production\nand trade report. (1500)\n -- Agriculture Department releases survey on agricultural\nresources. (1500)\n Reuter\n\u0003",
"date": " 7-APR-1987 17:44:14.35",
"id": "14725"
},
{
"date": " 7-APR-1987 17:44:20.26",
"id": "14726"
},
{
"title": "BAKER, VOLCKER MEET WEST GERMAN OFFICIALS",
"body": "Treasury Secretary James Baker and\nFederal Reserve Board Chairman Paul Volcker held a meeting with\nsenior West German monetary officials, including Finance\nMinister Gerhard Stoltenberg, Volcker said.\n Volcker emerged after two-hours in the Treasury building\nbut declined to comment on the subjects they discussed.\n Stoltenberg, accompanied by other senior West German\nofficials attending the spring meeting of the International\nMonetary Fund, left the Treasury without speaking to reporters.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:46:35.83",
"places": [
"usa"
],
"id": "14727"
},
{
"title": "LAC <LAC> BOOSTING EXPLORATION SPENDING",
"body": "Lac Minerals Ltd's exploration spending\nwill rise this year to 25 mln dlrs from 16.3 mln dlrs last\nyear, the gold miner said in its annual report.\n The 1987 budget involves 16 mln dlrs for advanced\nexploration on a tin project in New Brunswick, Bousquet mine\nnumber two in Quebec and the Ortiz property in New Mexico, and\nnine mln dlrs for pure exploration.\n Total capital and exploration spending will rise this year\nto about 130 mln dlrs from 98 mln dlrs last year, with 77 mln\ndlrs of the 1987 amount set for the Page-Williams mine in\nHemlo, Ontario, Lac said.\n A decision is imminent on Lac's appeal of an Ontario court\nruling last year ordering Lac to hand over Page-Williams to\n<International Corona Resources Ltd>.\n Lac's total 1986 gold production rose to 478,394 ounces\nfrom 265,925 ounces the previous year. Production excluding\nPage-Williams eased last year to 245,232 ounces from 255,556\nounces in 1985.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:46:44.25",
"places": [
"canada"
],
"id": "14728"
},
{
"title": "TRILON DECLARES STOCK DIVIDEND",
"body": "<Trilon Financial Corp> said it declared\na stock dividend of one class A share for each two class A\nshares held, payable May 15 to shareholders of record on April\n30.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:47:26.41",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "14729"
},
{
"title": "LAC MINERALS BOOSTING EXPLORATION SPENDING",
"body": "Lac Minerals Ltd's exploration spending\nwill rise this year to 25 mln dlrs from 16.3 mln dlrs last\nyear, the company said in its annual report.\n The 1987 budget involves 16 mln dlrs for advanced\nexploration on a tin project in New Brunswick, Bousquet mine\nnumber two in Quebec and the Ortiz property in New Mexico, and\nnine mln dlrs for pure exploration.\n Total capital and exploration spending will rise to about\n130 mln dlrs from 98 mln dlrs last year, with 77 mln dlrs of\nthe 1987 amount set for the Page-Williams mine in Hemlo,\nOntario, Lac said.\n Lac's total 1986 gold production rose to 478,394 ounces\nfrom 265,925 ounces the previous year. Production excluding\nPage-Williams eased to 245,232 from 255,556 ounces in 1985.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:47:58.44",
"places": [
"canada"
],
"id": "14730"
},
{
"title": "LOGICON INC <LGN> GETS CONTRACT ADD-ONS",
"body": "Logicon Inc said it has received a\n12 mln dlr add-on contract, including options, to continue\ndeveloping the Joint Analytic Warfare System for the\nOrganization of the Joint Chiefs of Staff.\n The new award increases the total contract value, including\noptions, to over 13.8 mln dlrs, including two mln dlrs for the\ninitial nine-month period and another ten mln dlrs in options\nover the next five years.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:48:05.00",
"places": [
"usa"
],
"id": "14731"
},
{
"title": "API SAYS DISTILLATE, GASOLINE STOCKS UP IN WEEK",
"body": "Distillate fuel stocks held in\nprimary storage rose by 628,000 barrels in the week ended April\nthree to 106.96 mln barrels from a revised 106.33 mln the\nprevious week, the American Petroleum Institute said.\n In its weekly statistical bulletin, the oil industry trade\ngroup said gasoline stocks rose 2.29 mln barrels to 247.91 mln\nbarrels from a revised 245.62 mln, and crude oil stocks were up\n8.52 mln barrels to 337.73 mln from a revised 329.21 mln.\n It said residual fuel stocks rose 28,000 barrels to 38.25\nmln from a revised 37.98 mln barrels.\n API said refinery runs in the week rose to 12.54 mln\nbarrels per day from 12.21 mln and refinery use of operating\ncapacity was 80.4 pct, up from 78.3 pct.\n Crude oil imports in the week fell to 3.40 mln bpd from a\nrevised 3.60 mln, API added.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:48:22.99",
"topics": [
"gas",
"crude",
"fuel"
],
"places": [
"usa"
],
"id": "14732"
},
{
"title": "REUTER CANADA BUSINESS HIGHLIGHTS",
"body": "Lawmakers from Ontario asked their U.S.\ncounterparts to exempt Canada from the mandatory trade\nretaliation provisions in a major trade bill being considered\nby the U.S. congress.\n MONTREAL - Consolidated-Bathurst Inc said it expects\nimprovement in the pulp and paper sector shown in the second\nhalf of 1986 to continue this year.\n MONTREAL - Alcan Aluminium Ltd set up a new business\ndevelopment position in Europe to be managed by its\nGeneva-based Alcan Alumium S.A. unit.\n TORONTO - Trilon Financial Corp said the Canadian\ngovernment is sympathetic to Trilon's concerns about possible\nlimits placed on its expansion by government proposals to\nderegulate financial institutions.\n MONTREAL - Diamond-Bathurst Inc should return to\nprofitability this year after reporting a 6.2 mln U.S. dlr loss\nin 1986, CB Pak Inc, which owns 45 pct of the company, said.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:49:18.36",
"id": "14733"
},
{
"title": "REUTER MONEY NEWS HIGHLIGHTS 2145 GMT APRIL 7",
"body": "Japanese Finance Minister Kiichi Miyazawa said\nthat he and U.S. Treasury Secretary James Baker were in\nagreement on the need for currency stability. (NRKI 1821)\n WASHINGTON - Federal Reserve Board Chairman Paul Volcker\nsaid the performance of the dollar in exchange markets could be\na factor in the U.S. central bank's decisions on monetary\npolicy. (NRGG 1458)\n NEW YORK - Firm oil prices and fears of renewed dollar\ndeclines sent both U.S. equities and bond prices tumbling, with\nthe Dow Jones Industrial Average down 45 to 2361 and the key\nlong bond down 1-3/32 to 95-1/32. (MRUA 2019, NYFK 2123)\n NEW YORK - The dollar ended with modest net losses in a\nfinal bout of position-squaring ahead of tomorrow's crucial\nmonetary talks in Washington. The dollar slipped to 145.60/70\nyen from 145.85/90 yesterday. (NYFD 2044)\n WASHINGTON - U.S. consumer credit rose a seasonally\nadjusted 1.77 billion dlrs in February after a revised rise of\n789 mln dlrs in January, the Federal Reserve said. (NRKX 2024)\n WASHINGTON - The Treasury said it will sell 13.2 billion\ndlrs of bills at its regular auction on April 13.(NRKV 2009)\n NEW YORK - Gold bullion rose to 422.25/423.25 dlrs an ounce\nfrom 418.10/60 at the previous finish (MMGU 1926).\n Reuter\n\u0003",
"date": " 7-APR-1987 17:49:59.55",
"id": "14734"
},
{
"title": "FIRST TORONTO COMPLETES ISSUE",
"body": "<First Toronto Capital Corp> said it\ncompleted an issue of a five mln dlrs convertible debenture to\nArcalex B.V., a Dutch corporation that owns 54.3 pct of First\nToronto's outstanding common shares.\n The debenture is convertible to one mln common shares of\nFirst Toronto for a period of five years.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:50:15.06",
"places": [
"canada"
],
"id": "14735"
},
{
"title": "ALLEGHENY <AG> PREFERED SHAREHOLDERS FILE SUIT",
"body": "Allegheny International Inc, which has\nagreed to a merge with a jointly-formed First Boston Inc\naffiliate in a deal worth 500 mn dlrs, said shareholders of its\npreferred stock have filed a class action complaint against the\ncompany.\n The complaint alleges, among other things, that the company\nand its board agreed to pay First Boston an illegal seven mln\ndlr topping fee if it received a higher offer for the company\nprior to the buyout.\n The suit contends that this fee hampers Allegheny's ability\nto attract other offers or take other actions that would\nbenefit holders of preferred stock. The complaint also alleges\nfederal securities laws violations and breach of fiduciary\nduty.\n The suit requests an injunction against proceeding with the\npending offer being made by Sunter Acquisition to acquire\nAllegheny. Sunter Acquisition Corp and Sunter Holdings Corp\nwere formed by First Boston and Allegheny.\n Allegheny said it and the Sunter concerns intend to\nvigorously defend the complaint's charges.\n The complaints were filed by Robert Moss and other parties\nwho are believed to own about 230,000 shares of Allegheny's\npreferred stock.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:51:09.86",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14736"
},
{
"title": "CAPITAL CITIES/ABC'S <CCB> ABC TV IN DEAL",
"body": "Capital Cities/ABC's ABC Television\nNetwork said its Newsone news service reached a cooperative\nagreement with Potomac Telecommunications Group to offer\nABC affiliates expanded coverage of Washington news.\n Potomac will work with ABC to transmit stories at rates\nlower than current transmitting costs.\n Potomac covers Washington for 150 stations. The deal\naffects about 219 ABC affiliates, and does not affect Potomac's\nother customers. The deal does not affect ABC's network news\ncoverage, which is currently involved in a strike.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:51:45.88",
"places": [
"usa"
],
"id": "14737"
},
{
"title": "TAP AIR PORTUGAL SIGNS CONTRACT FOR AIRBUS",
"body": "TAP Air Portugal said it signed a\ncontract for three <Airbus Industrie> A310-300 aircraft,\nconfirming a commitment made in January.\n Air Portugal said it has taken options on two further\naircraft which may be either A310-300s or A340s.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:56:51.86",
"places": [
"usa",
"portugal"
],
"id": "14738"
},
{
"title": "CANADIANS URGE EXEMPTION FROM U.S. TRADE BILL",
"body": "A group of Canadian lawmakers from\nOntario today asked their U.S. counterparts to exempt Canada\nfrom the mandatory trade retaliation provisions in a major\ntrade bill being considered by the U.S. Congress.\n At a meeting of the Northeast-Midwest Coalition, an\norganization of U.S. legislators, David Cooke, chairman of the\nOntario Parliament's Select Committee on Economic Affairs, said\nthe exemption would help trade relations.\n The trade legislation to be considered by the full House in\nlate April would require President Reagan to retaliate against\nforeign unfair trade practices unless the trade actions would\nharm the U.S. economy.\n Currently, Reagan can reject trade sanctions on any\ngrounds.\n Cooke, a member of the Liberal party, told the U.S.\ncongressmen, \"I can understand (the trade bill). I think it has\nto do with concerns you have with the other parts of the world.\"\n \"I would suggest to you that we are your best friends. You\ndo not have those concerns with Canada and you should sincerely\nconsider exempting our country from that bill,\" he added.\n Canada is the United States' largest trading partner, with\ntwo-way trade more than 113 billion dlrs in 1985, according to\nthe coalition. But the U.S. ran up a 23 billion dlr deficit in\nmanufactured goods that year compared to a 14 billion dlr\nsurplus in services trade with its neighbour.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:58:28.60",
"topics": [
"trade"
],
"places": [
"canada",
"usa"
],
"id": "14739"
},
{
"date": " 7-APR-1987 17:58:38.07",
"id": "14740"
},
{
"title": "INTERFACE <IFSIA> BEGINS OFFERING",
"body": "Interface Flooring Systems Inc said\nit began a public offering of 2.8 mln shares of Class A stock\nat 21.25 dlrs a share.\n Proceeds will be used to finance the acquisition of 50 pct\nof Debron Investments PLC and to reduce debt.\n Reuter\n\u0003",
"date": " 7-APR-1987 17:59:27.10",
"places": [
"usa"
],
"id": "14741"
},
{
"title": "CHEVRON <CHV> LAUNCHES PLATFORM OFF CALIFORNIA",
"body": "Chevron Corp's Chevron U.S.A.\nInc said it has begun the installation of an oil drilling\nplatform, called Platform Gail, in the Sockeye field, located\nin federal waters in the Santa Barbara Channel offshore\nsouthern California.\n Chevron said a 25-mln dlr, eight leg platform jacket was\nlaunched from a barge Sunday and secured in position in 739\nfeet of water.\n Modules for crew quarters, drilling and production\noperations are to be completed later this year, the company\nsaid.\n The three-deck platform, 11 miles west of Port Hueneme,\nwill be equipped with 36 drilling slots, Chevron said.\n Production from the first of 25 planned wells in the\n100-pct Chevron-owned field is slated to begin in early 1988,\nthe company said.\n The estimated total cost of the platform is 150 mln dlrs,\nChevron said.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:06:45.24",
"places": [
"usa"
],
"id": "14742"
},
{
"title": "MARITRANS L.P. BEGINS OFFERING",
"body": "Maritrans GP Inc said it began an\noffering of 12.25 mln depositary units representing limited\npartnership interests of Maritrans Partners L.P. at 9.75 dlrs\nper unit.\n After completion of the offering, Maritrans will own and\noperate the tug and barge business currently owned by Sonat\nMarine Inc and other subsidiaries of Sonat.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:08:44.19",
"places": [
"usa"
],
"id": "14743"
},
{
"title": "AMERICAN AGRONOMICS CORP <AGR> 2ND QTR FEB 28",
"body": "Shr profit one cts vs loss three cts\n Net profit 641,000 vs loss 992,000\n Revs 26.0 mln vs 19.0 mln\n Six months\n Shr profit six cts vs loss six cts\n Net profit 2.8 mln vs loss 1.8 mln\n Revs 39.0 mln vs 37.4 mln\n NOTE:1987 six months includes gain of four cts from change\nin accounting principle.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:10:06.92",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14744"
},
{
"title": "NASA PICKS BOEING <BA> FOR SYSTEM CONTRACT",
"body": "Boeing Co said the National\nAeronautics and Space Administration selected it for\nnegotiations leading to a contract for the Technical and\nManagement System project in support of the Space Station\nprogram.\n NASA's initial commitment is about 40 mln dlrs.\n Under terms of the contract, Boeing will design and operate\nan information exchange network to support development of the\nproposed space station.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:29:46.82",
"places": [
"usa"
],
"id": "14745"
},
{
"title": "JAPAN SEEKS TO STRENGTHEN PARIS ACCORD ON CURRENCIES, JAPANESE OFFICIALS SAY\n",
"date": " 7-APR-1987 18:30:51.85",
"places": [
"japan"
],
"id": "14746"
},
{
"title": "CURRENCY TARGET ZONES WILL NOT BE DISCUSSED AT G-7 MEETING, JAPANESE OFFICIALS SAY\n",
"date": " 7-APR-1987 18:32:18.48",
"places": [
"japan"
],
"id": "14747"
},
{
"title": "REUTER BUSINESS NEWS HIGHLIGHTS, APRIL 7",
"body": "Stocks fell steeply from the 2400 level in an\navalanche of selling unleashed by a jump in credit market\ninterest rates and renewed fears that the dollar could fall\nfurther. After first extending the rally that hit an all-time\nclosing high of 2405.54 Monday, the Dow Jones industrial\naverage skidded 44.60 points to 2360.94, the fifth-largest\npoint drop on record.\n ---\n WASHINGTON - Japanese Finance Minister Kiichi Miyazawa said\nhe and U.S. Treasury Secretary James Baker were in agreement on\nthe need for stable foreign exchange rates. Speaking after an\nhour-long meeting with Baker, Miyazawa also said he was\nsatisfied with U.S. intervention to support the dollar against\nthe yen. He expected the Group of Seven countries, which are\ndue to meet tomorrow, to reaffirm the so-called Louvre accord\nto stabilize foreign exchange rates.\n ---\n NEW YORK - The dollar bounced higher near the close of\ntrading as the stock and bond markets went into a steep slide,\nbut most traders are awaiting results from top-level meetings\nin Washington before committing themselves.\n ---\n NEW YORK - Texaco Inc said it asked the Texas Court of\nAppeals to block enforcement of a 10.3 billion dlr judgment\nbond won by Pennzoil Co until appeals are decided. Texaco said\nMonday that if it had to pay the full bond it would be forced\nto seek protection under Chapter 11 of the Bankruptcy code.\n ---\n NEW YORK - AFG Industries Inc and Wagner and Brown ended\ntheir hostile bid to acquire GenCorp Inc after the company's\ndramatic announcement Monday of sweeping anti-takeover\nmeasures. GenCorp, a large diversified manufacturing concern,\nannounced a 1.6 billion dlr, or 130 dlr a share, buyback of 54\npercent of its stock and the sale of its tire and soft drink\nbottling units.\n ---\n NEW YORK - A firm comprised of an E.F. Hutton Group unit and\nPurolator Courier Corp executives agreed to end its 268 mln dlr\npact to buy Purolator, allowing Emery Air Freight Corp to\nproceed with its 306 mln dlr bid for the world's largest ground\ncarrier. In response, Emery said it would renew its request for\na merger with the Basking Ridge, N.J.-based courier service.\n ---\n NEW YORK - ITT Corp authorized the repurchase of 10 million\nshares of its common and preferred stock as part of a program\nto enhance its earnings and shareholder value. ITT also said it\nwill redeem three series of its preferred stock.\n ---\n PARIS - Airbus Industrie, the European airplane\nmanufacturer, said it would buy engines for its proposed A340\nwide-body jet from a joint-venture linking General Electric Co.\nand SNECMA of France. The move is a boost for GE's aerospace\ndivision and bad news for the International Aero Engine\nconsortium. The IAE group was selected to provide engines for\nthe A340 in December when an earlier GE engine was dropped for\nuse in the plane. International Aero Engine includes the\nworld's other leading engine manufacturers, Rolls-Royce, Pratt\n& Whitney and Japan's Aero Engines.\n ---\n WASHINGTON - Michael Davidoff, head trader for Ivan\nBoesky's Seemala Corp, has consented to Securities and Exchange\nCommission penalities and agreed to help in its continuing\ninvestigation of insider trading, the SEC said. Davidoff\nrecently pleaded guilty in federal court to violating the\ngovernment's net capital requirements for brokers and traders.\n ---\n NEW YORK - Several major computer companies launched new\ncomputers, with Italy's Olivetti becoming the first major firm\nto promise products to compete with International Business\nMachines' new personal computers launched last week. Motorola,\nWang Laboratories, Unisys and Honeywell Bull all launched new\nproducts, although they were seen as only modest advances in\nproduct lines.\n ---\n NEW YORK - Avon Products Inc, one of the world's leading\ncosmetics manufacturers, said it will purchase Giorgio Inc,\nmaker of the best-selling Giorgio perfume, for 185 mln dlrs in\ncash.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:32:41.76",
"id": "14748"
},
{
"title": "TEXAS MAY CONSIDER INCOME TAX TO SOLVE BUDGET WOES",
"body": "The State of Texas, faced with a record\n5.8 billion dlr budget deficit over the next two years, may\nhave to consider introducing income tax,economic analysts said.\n Such a possibility was unthinkable a few years back when\nthe state's enormous wealth from oil and gas revenues easily\nallowed Texans the luxury of paying no personal or corporate\nincome tax.\n However, last year's dramatic slump in oil prices not only\nsent the Texas economy into a tailspin, but cut heavily into\nthe state's tax revenues.\n Both Moody's Investor Services and Standard and Poor's cut\ntheir credit ratings of the state to double A from the top\ntriple A in early March.\n Moody's Vice President George W. Leung said it was the\nfirst time Texas' rating had been lowered since 1962, adding\nthe report noted that while \"the Legislature is now considering\nproposals to restore budget balance, medium term prospects for\nfull recovery are weak.\"\n With only a slight improvement in the economy seen by State\nComptroller Bob Bullock, the Texas Legislature must grapple\nwith a one billion dlr deficit by August 31 and another 4.8\nbillion dlr deficit by the end of the next biennium. No other\nstate in U.S. history has faced such a deficit.\n \"There is a strong independent streak in Texans and five\nyears ago I would never have dreamed the State Legislature\nwould institute an income tax,\" said George Bland, Assistant\nProfessor of Political Science at North Texas State University,\nadding, \"Now my contacts at the Legislature tell me it's\ncoming, it's inevitable, it's only a matter of time.\"\n State taxes on oil and gas production traditionally\nsupplied as much as a third of the state's revenues.\n However, that source has fallen to about 15 pct in recent\nyears, and with last year's price slump, the state's dependence\non sales taxes is approaching 50 pct.\n Bland said he believes the Tax Reform Act will be a major\nfactor in the state's decision because under it sales taxes are\nno longer deductible from federal income tax while state income\ntax is.\n John Kennedy, senior research associate at the Austin-based\nTexas Research League said, \"There is a great deal of popular\nsentiment against it, plus the first plank of Governor\nClements' platform was no tax increases, let alone a new tax.\"\n However, he said that since the oil price fall the state\nfaced a choice of either instituting an income tax or\nbroadening and possibly raising the sales tax.\n Steve Pejovich, director of the Center for Free Enterprise\nat Texas A and M University and an opponent of income taxes,\nsaid he favored reforming the present tax system to take\naccount of the changed structure of the economy.\n \"We should rely less on traditional sources, such as oil\nand agriculture and real estate and more on service industries,\nmanufacturing and high-tech,\" Pejovich said.\n Tony Proffitt, an aide to State Comptroller Bob Bullock\nsaid, \"Bullock is opposed to an income tax, but has warned the\nLegislature that if they get tired of looking at everything\nelse, that's the only option.\"\n Apart from Texas, states which have no individual income\ntax are Alaska, Florida, Nevada, New Hampshire, South Dakota,\nWashington and Wyoming \n For the time being, Attorney General Jim Mattox has ruled\nthat the Legislature may carry over the current one billion dlr\ndeficit into the next biennium, even though the state\nconsitution requires a balanced budget. But as State Treasurer\nAnn Richards said last Thursday, \"Jim Mattox's decision today\nturns the heat down on the pressure cooker, but we must not\nthink that the goose isn't still cooking.\"\n Opponents to new or higher taxes argue in favor of spending\ncuts. But the state is already under pressure from a Federal\nDistrict Court to clean up its overcrowded prison system -- or\nface 24 mln dlrs a month in fines.\n And U.S. Education Secretary William Bennett has accused\nthe state, among others, of lax education reform. Earlier this\nyear, both houses of the Legislature, citing financial\nrestraints as well as teacher morale, passed bills abandoning\nplans to require teachers to take competency tests.\n Bland said he believes the state will set up a commission\nnext year to \"study alternative revenue sources,\" with an\nincome tax being instituted as early as January 1989.\n \"If the political leaders are educated about (the effects\nof the Tax Reform Act), I think there will be a gradual drift\ntoward income tax,\" he said.\n \n Reuter\n\u0003",
"date": " 7-APR-1987 18:34:36.71",
"places": [
"usa"
],
"id": "14749"
},
{
"title": "GYNEX <GYNXU>, SEARLE END MARKETING PACT",
"body": "Gynex Inc said that Gynex Labs\nand G.D. Searle, a unit of Monsanto Co <MTC>, have terminated\nthe distribution agreement under which Searle had exclusive\nrights to market Gynex's line of generic oral contraceptives.\n This means that Gynex Labs, 50 pct owned by Gynex and 50\npct by Watson Laboratories, will not get remuneration under the\ndistribution agreement beyond the 650,000 dlrs received from\nSearle in February and March 1986. This has been applied to the\ncosts of inventories.\n Searle and Gynex Labs will both bear costs involved with a\nproduct recall. Gynex Labs' cost is estimated at 900,000 dlrs,\nto be shared equally by Gynex Inc and Watson, it said.\n The companies ended the agreement when it was determined\nthat Searle's product line sales and marketing commitment would\nnot allow it to commit the necessary resources for the relaunch\nof the Gynex line of oral contraceptives, Gynex said.\n After launching the first two Gynex products in early\nFebruary, Searle voluntarily recalled them in March as a\npreventive measure because a limited number of packages may\nhave contained out of order or missing tablets.\n Gynex has made changes that should prevent a recurrence of\nthe problem, and is ready to reinitiate production, it said.\nTalks are underway with other potential distributors.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:35:24.43",
"places": [
"usa"
],
"id": "14750"
},
{
"title": "HELIG-MEYERS CO <HMY> INCREASES DIVIDEND",
"body": "Qtly div eight cts vs seven cts prior\n Payable May 15\n Record APril 29\n Reuter\n\u0003",
"date": " 7-APR-1987 18:36:05.91",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14751"
},
{
"title": "HELIG-MEYERS CO <HMY> YEAR FEB 28",
"body": "Shr 1.30 dlrs vs 1.07 dlrs\n Net 13.6 mln dlrs vs 10.2 mln\n Revs 271.2 mln vs 182.3 mln\n NOTE:1986 results reflect year 11 month period because\ncompany changed fiscal year to end February 28 from March 31.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:36:35.35",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14752"
},
{
"title": "NANOMETRICS INC <NANO> REDUCES WORKFORCE",
"body": "Nanometrics Inc said it is\nreducing its domestic workforce of 141 people by about 17 pct.\n The comapny said the action, coupled with other cost\nreduction measures, is intended to address the continuing slow\nsales of its semiconductor measurement and inspection\nequipment.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:37:49.07",
"places": [
"usa"
],
"id": "14753"
},
{
"title": "SENATE REPORT - REAGAN PLANS EARLY SDI DEPLOYMENT",
"body": "The Reagan administration is secretly\ndeveloping plans for an early deployment of President Reagan's\ncontroversial \"Star Wars\" anti-missile system, according to a\nSenate study.\n \"Near-term deployment is an absurd and dangerous course for\nAmerica,\" said Sen. Bennett Johnston in a statement issued with\nthe report. \"It would force us to break the bank, throw out the\nABM treaty and commit us to an arms race in space.\"\n The Reagan administration is engaged in an internal debate\nover the Strategic Defense Initiative (SDI), as the land and\nspace-based anti-missile system is called, and may decide later\nthis month to reinterpret the 1972 Anti-Ballistic Missile\ntreaty to justify an acceleration of SDI research to include\ndevelopment and space testing.\n Johnston, of Louisiana, and fellow Democrat William\nProxmire of Wisconsin, whose staff prepared the report, accused\nthe administration of covertly seeking early deployment as a\npolitical ploy to commit the United States to strategic\ndefenses even after Reagan leaves office in 1989.\n \"This report exposes the fact that without a presidential\ndirective or congressional consent, the SDI program ... is\nbeing changed to pursue a near-term deployment of strategic\ndefenses,\" Proxmire, chairman of the powerful Senate\nAppropriations Defense Subcommittee, said.\n \"In other words, they're covertly reorienting the SDI\nprogram without congressional approval.\"\n \n Reuter\n\u0003",
"date": " 7-APR-1987 18:40:15.30",
"places": [
"usa"
],
"id": "14754"
},
{
"title": "KELLY OIL AND GAS PARTNERS <KLY> YEAR DEC 31",
"body": "Shr 36 cts vs 43 cts\n Net 1.3 mln vs 1.7 mln\n Revs 9.0 mln vs 7.9 mln\n Reuter\n\u0003",
"date": " 7-APR-1987 18:41:42.03",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14755"
},
{
"title": "TRANS-CANADA RESOURCES WINS FILING EXTENSION",
"body": "<Trans-Canada Resources Ltd>\nsaid it received an Alberta court order extending to April 20\nfrom April six the filing of a plan of arrangement with the\ncourt under the Companies' Creditors Arrangement Act.\n It said the order also extended the stay of legal\nproceedings against the company to May 20 and provided for\nshareholders' and creditors' meetings by May 15.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:43:02.22",
"places": [
"canada"
],
"id": "14756"
},
{
"title": "JAPAN SEEKS TO STRENGTHEN PARIS CURRENCY ACCORD",
"body": "Japan will seek to strengthen the\nParis accord on currency stability at the meeting of the group\nof seven leading industrial nations tomorrow, Japanese\nofficials said.\n However, the officials travelling with Japanese Finance\nMinister Kiichi Miyazawa and who asked not to be identified,\nwould not provide any details of how they wanted the accord,\nwhich was signed by the six leading industrial democracies in\nFebruary, to be strengthened.\n Currency target zones, or reference ranges, will not be\ndiscussed at the G-7 meeting which is scheduled for tomorrow,\nthe Japanese officials said.\n The meeting, which is being held in conjunction with this\nweek's International Monetary Fund/World Bank sessions, will\nreaffirm the currency pact and there is no need for changing \nthe language used in the Paris accord, the officials said.\n Miyazawa met with U.S. Treasury Secretary James Baker early\nin this afternoon and discussed the dollar/yen exchange rates,\nofficials said, but they declined to disclosed the details of\nthat discussion.\n The Japanese officials also declined to detail what\nMiyazawa and Baker discussed on the subject of greater joint\nintervention in currency markets to stabilize the dollar or on\nindependent American intervention.\n The officials said such a money market action to stabilize\nthe dollar is not only for the benefit of Japan, which is\nsuffering from a sharp appreciation in its currency, but also\nfor the benefit of the United States as well.\n As to U.S. urgings for Japan to take steps to boost its\ndomestic demand to reduce its trade surplus, Japan will explain\neconomic measures to the G-7, the officials said.\n However, Miyazawa failed to outline the size of the\nJapanese economic package in his meeting with Baker today\nbecause the Japanese 1987/88 budget has not been authorized by\nthe Diet, or parliament, despite the new fiscal year which\nstarted April one, the officials said.\n Japan's ruling liberal democratic party revealed its own\neconomic package today calling for more than 5,000 billion yen\nin additional spending.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:45:00.39",
"topics": [
"money-fx"
],
"organisations": [
"imf"
],
"places": [
"usa",
"japan"
],
"id": "14757"
},
{
"title": "MOODY'S SAYS LOWER RATINGS SHOW 1987 DOWNTREND",
"body": "Moody's Investors Service Inc said the\ncredit quality of corporate bond issuers continued to decline\nin first quarter of 1987.\n Of all corporate ratings changes during the quarter, 66 pct\nwere downgrades compared with 55 pct during all of 1986.\n Moody's said downgrades led upgrades last quarter by two to\none. It downgraded 50 companies, affecting 61 billion dlrs of\ndebt and upgraded 25 companies, affecting 9 billion dlrs of\ndebt.\n It said more than half of the quarter's downgrades were in\nthe industrial sector, affecting 25 billion dlrs of debt.\n Moody's said that continued leveraged buyouts and\nrestructuring among small and medium-sized companies will\naccount for up to one-quarter of coporate debt downgrades.\n Worldwide competition and overcapacity will continue to\ntake its toll on industrial companies, Moody's added. It said\nintensifying competition in an environment of slow economic\ngrowth, Moody's predicts 2.5 pct worldwide growth in 1987, will\nlower returns and margins for many multinational firms.\n Bank and finance company downgrades outpaced upgrades by 16\nto 6 respectively. It said this trend will continue because of\nLatin American debt problems.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:48:14.14",
"places": [
"usa"
],
"id": "14758"
},
{
"title": "COMSAT <CQ> CHANGES NAME OF HI-NET UNIT",
"body": "Communications Satellite Corp said it\nchanged the name of its Hi-Net Communications unit to Comsat\nVideo Enterprises to better reflect the nature of the unit's\noperations.\n Comsat recently took full control of Hi-Net, which provides\nin-room entertainment to hotels by satellite, by acquiring\nHoliday Corp's <HIA> 50 pct interest in the firm.\n In addition, Comsat said it signed new seven-year contracts\nwith LaQuinta Motor Inns Inc <LQM> and <Drury Inns Inc>.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:49:13.54",
"places": [
"usa"
],
"id": "14759"
},
{
"title": "AMERITRUST <AMTR> INTRODUCES IRA FUND",
"body": "Ameritrust Corp said it is\nintroducing a pooled investment fund for IRA's and other\nretirement accounts, called the Collective INvestment\nRetirement Fund.\n The fund will operate much like a mutual fund and will\nallow initial investments as low as 250 dlrs, it said.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:50:44.03",
"places": [
"usa"
],
"id": "14760"
},
{
"title": "TCW CONVERTIBLE SECURITIES <CVT> SETS DIVIDEND",
"body": "TCW Convertible Securities Fund Inc\nsaid its board declared an initial quarterly dividend of three\ncents per share, payable April 30 to shareholders of record\nApril 17.\n TCW said it anticipates paying a regular quarterly\ndividend. The company made its initial public stock offering\nMarch five.\n Reuter\n\u0003",
"date": " 7-APR-1987 18:51:41.87",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14761"
},
{
"title": "AUSTRALIAN DOLLAR OPENS EASIER",
"body": "The Australian dollar opened easier at\n0.7085/90 U.S. Dlrs but quickly breached the 0.7100 barrier in\nearly trade.\n Dealers said there was still strong support for the unit\nand forecast it would test its recent highs after shrugging off\nyesterday's selling pressure.\n They said the dollar was better equipped to hold its\ncurrent values as its U.S. Conterpart is significantly lower\nthan the last time these levels were tested.\n A trading range of 0.7080 to 0.7120 U.S. Dlrs is expected\ntoday.\n In early Australian trade the US dollar was pegged at\n1.8253/63 marks and 145.40/50 yen from its New York closes of\n1.8270/80 and 145.60/70.\n Dealers said the market had become sceptical about the\nresolve of the major trading nations to assist the U.S. Out of\nits twin deficit problems.\n They forecast a quiet day for the currency.\n The Australian dollar was firmer on the crossrates in early\nAustralian trade at 1.2964 marks from 1.2918, 103.32 yen from\n103.15, 1.0763 swiss francs from 1.0732, 1.2391 NZ dlrs from\n1.2403, and 0.4392 sterling from 0.4361. \n Reuter\n\u0003",
"date": " 7-APR-1987 18:52:17.05",
"id": "14762"
},
{
"title": "HOUSE COMMITTEE SLASHES \"STAR WARS\" FUNDING",
"body": "The House Armed Services Committee\nslashed President Reagan's funding request for the Strategic\nDefense Initiative (SDI), approving 1.7 billion dlrs less than\nhe had proposed for the anti-missile program.\n The committee, during its consideration of the 1988 defense\nauthorization bill, also cut by more than half Reagan's request\nfor a rail system for strategic missiles.\n The proposals must be adopted by the full House and Senate\nbefore becoming law.\n The committee approved 3.5 billion dlrs for SDI, a land-\nand space-based anti-missile defense program commonly known as\n\"Star Wars.\" The amount was 1.7 billion dlrs less than the\nadministration request of 5.2 billion dlrs.\n The Reagan administration has requested a total of 312\nbillion dlrs for defense in 1988, but congressional leaders\nhave said that will be cut as part of a budget-trimming effort\nto reduce the huge federal deficit.\n In other action today, the committee approved 250 mln dlrs\nfor a rail system for inter-continental ballistic missiles, but\ndid not specify which missile system. Supporters have said\nmissiles on such a rail network would be less vulernable to\nattack than those in fixed underground silos.\n The administration requested 590 mln dlrs specifically for\na rail-mobile system for the 10-warhead MX missile. But many\ncongressmen, including House Armed Services Chairman Les Aspin,\na Wisconsin Democrat, favor a smaller mobile missile dubbed the\n\"Midgetman.\"\n Reuter\n\u0003",
"date": " 7-APR-1987 19:00:01.57",
"places": [
"usa"
],
"id": "14763"
},
{
"date": " 7-APR-1987 19:00:30.35",
"id": "14764"
},
{
"date": " 7-APR-1987 19:12:33.43",
"id": "14765"
},
{
"title": "RUDING SAYS BANKS, DEBTORS SHOULD TAKE LEAD",
"body": "Dutch Finance Minister Onno Ruding\nsaid there was a growing feeling in the World Bank and the\nInternational Monetary Fund that commercial banks and debtor\ncountries should take a greater lead in assembling new\nfinancing packages.\n \"The IMF and the Bank may be less inclined to put together\nlarge packages like Mexico,\" Ruding told reporters in a briefing\non this week's semi-annual IMF and World Bank talks.\n Ruding, who is also chairman of the IMF's policy-making\nInterim Committee, said he was reflecting a feeling within the\ntwo institutions.\n Asked whether his comments reflected a feeling the\ninstitutions were being unduly pressured by the Reagan\nadministration, Ruding replied \"we should not go in the\ndirection of politicisation of the two institutions.\"\n Ruding said \"no country large or small should push in that\ndirection.\" He said he expected commercial bank lending to\ndebtors to come in for some criticism for the slow pace of\nlending recently. Ruding also said he did not expect any major\ninitiatives to develop a larger commercial bank role in the\ndebt strategy or any new proposals for dealing with the debt\ncrisis itself.\n In other remarks, Ruding said many countries supported a\nGeneral Capital Increase for the World Bank and he expected\nBank president Barber Conable also to express his support.\n The U.S. has said it is opposed to a GCI at present.\n Ruding said the Interim Committee Communique would support\nthe use of indicators to assist multilateral surveillance but\nwould stop short of supporting U.S. proposals for automatic\nconsultations if indicators were sharply out of line with\npolicy objectives. Monetary sources say the U.S. has suggested\nestablishing \"norms\" or automatic triggers for consultations\namong industrial states if policies deviate from plan.\n Currently the plan also has the support of France, the\nNetherlands and Italy while Britain, Japan and West Germany are\nall opposed.\n Reuter\n\u0003",
"date": " 7-APR-1987 19:22:10.47",
"organisations": [
"imf",
"worldbank"
],
"places": [
"usa"
],
"id": "14766"
},
{
"title": "CURRENCY FUTURES TO KEY OFF G-5, G-7 MEETINGS",
"body": "News of an agreement among G-5 and G-7\nfinance ministers meeting in Washington this week will be key\nto the direction of currency futures at the International\nMonetary Market, but any such agreement will need to go beyond\nthe Paris accord to stem the recent rise in futures, financial\nanalysts said.\n \"If they (the finance ministers) give the market something\nreally new to look at -- that is, some package that goes beyond\nthe Paris agreement -- you could have a real boost in the\ndollar,\" said Shearson Lehman Brothers analyst Anne Mills.\n On the other hand, \"anything neutral would tend to be\nbearish for the dollar,\" Mills said.\n Traders and analysts agree a simple reaffirmation of the\nParis accord will not be enough to halt the decline in the\ndollar, nor will central bank intervention.\n \"A lot of people are looking for a reason to buy currencies\nand sell the dollar,\" said one trader for a large retail firm\non the floor of the IMM.\n \"If there is no concrete resolution, they will be looking\nto sell the dollar, possibly down to the 1.80 mark level,\" he\nsaid.\n Technically, most currency futures are poised for another\nrise, said Smith Barney Harris Upham analyst Craig Sloane.\n Sloane noted that June yen futures set a new contract high\non Tuesday and closed at its best level ever, while June\nsterling set a new contract high on Monday.\n \"Everything seems to be coming to a head right now and you\ndon't need much to get things rolling,\" Sloane said.\n In particular, the June Canadian dollar, for which Sloane\nrecently put out a buy recommendation, has hovered in a range\nbetween 0.7600 and 0.7660 in recent weeks, forming a triangle\non the charts from which it may soon break out on the upside.\n A close above the contract high of 0.7665 would signal a\nbreakout, Sloane said, and would likely mean the nearby\nCanadian dollar contract would extend its advance to near the\n0.7800 level. June Canadian dollar closed at 0.7656 Tuesday.\n Mills noted, however, that interest rate differentials\nbetween Canadian securities and U.S. securities have narrowed\ndramatically recently, with yields on 10-year Canadian bonds\nonly about 80 basis points above U.S. 10-year notes.\n What has helped the Canadian currency, she noted, is an\nincreasing proportion of foreign funds flowing into the\nCanadian equity market, particularly from Japanese investors.\n Other analysts, however, said currency futures may be near\nthe top of their long-term rally.\n \"Something will be done at the (G-5 and G-7) meeting to\ncalm people,\" said David Horner of Merrill Lynch Economics.\n The Paris accord has pretty much fixed where major European\ncurrencies will trade, Horner said.\n But sterling futures may still make another run for new\nhighs, up to 1.6300 to 1.6500 dlr in the June contract, on the\npositive atmosphere that will prevail before British elections\nand possibly another interest rate cut, Horner said. The June\nBritish pound closed at 1.6080 on Tuesday.\n Horner said that new boundaries for the trading range of\nthe yen are likely to come out of the G-5 and G-7 meetings.\n The most likely range will be a bottom for the dollar\nbetween 140 to 142 yen per dollar and a top near 150 to 152\nyen, Horner said. In yen futures, the bottom of the dollar's\nrange would be equivalent to 0.007100 to 0.007150 in the June\ncontract. June yen closed at 0.006913 on Tuesday.\n If such a range does emerge from the meetings, \"we will\nhave one more rally in the yen,\" Horner said.\n Reuter\n\u0003",
"date": " 7-APR-1987 19:38:46.24",
"topics": [
"money-fx",
"dlr",
"yen",
"can",
"stg"
],
"places": [
"usa"
],
"id": "14767"
},
{
"title": "TEXACO GETS TEMPORARY RESTRAINING ORDER FROM TEXAS COURT AGAINST PENNZOIL\n",
"date": " 7-APR-1987 19:59:49.55",
"places": [
"usa"
],
"id": "14768"
},
{
"title": "TEXACO <TX> GETS TEMPORARY RESTRAINING ORDER",
"body": "Texaco Inc said it obtained a temporary\nrestraining order from the Texas court of appeals against\nPennzoil Co <PZL> taking action to enforce a multi-billion dlr\njudgment against Texaco.\n A Texas jury last year found that Texaco interfered with\nPennzoil's attempt to acquire Getty Oil Co last year and\nawarded Pennzoil more than 10 billion dlrs in damages.\n Texaco said the temporary restraining order was a positive\ninitial step.\n A spokesman said arguments will begin in the Texas State\nCourt of Appeal in Houston on April 13 on Texaco's request for\nrelief from the full bond and lien requirement, which equal the\namount of the judgment.\n REUTER\n\u0003",
"date": " 7-APR-1987 20:19:03.43",
"places": [
"usa"
],
"id": "14769"
},
{
"title": "POEHL WARNS AGAINST FURTHER DOLLAR FALL",
"body": "Bundesbank President Karl Otto Poehl\nsaid a weaker dollar would be risky and a further appreciation\nof the mark would damage prospects for sustained West German\neconomic growth.\n In a speech to the Institute of Contempory German Affairs\nhere, Poehl said \"It would be an extremely risky policy to aim\nfor a further substantial decline in the value of the dollar to\ncorrect the trade deficit.\"\n He said the United States could face a vicious circle of\ndepreciation, inflation and more depreciation if it took that\nroute.\n Poehl noted West Germany had already taken steps to meet\nU.S. Demands for greater stimulation of its domestic economy,\naccelerating tax cuts, cutting interest rates and tolerating\nabove-target money supply growth.\n He said he would have been happy to have brought forward\nfive billion marks of tax cuts now planned for January 1988 to\nthe beginning of this year, but he said the government faced\npolitical constraints getting such measures through the upper\nhouse of the West German parliament.\n But there were also limits to the impact West Germany could\naccept on exports from a rising mark, he said.\n Poehl said West Germany relied on exports for about\none-third of its gross national product, so a substantial\nerosion of export markets could not be offset by increasing\ndemand at home.\n \"A further appreciation of the mark could even be an\nobstacle to further growth,\" he said.\n Poehl said the Bundesbank had tolerated rapid money supply\ngrowth last year because the country enjoyed low inflation and\nbecause external factors, including low oil prices and\nfavourable terms of trade, had given some extra leeway.\n But Poehl said West Germany now faced a difficult dilemma\nover monetary policy.\n The underlying rate of inflation was now two pct, not the\nreported negative inflation rates last year, and West Germany\nwas affected more than before by exchange rate developments.\n \"For the time being, we will have to focus our policy more\non the external side, and we can live with a more expansionary\nmoney supply. But we must be very careful,\" he said.\n He said he shared some of the U.S. Concern about Japan's\ntrade surpluses, which affected European countries as well as\nthe United States.\n Poehl welcomed the so-called Louvre accord of monetary\nofficials of major industrialized countries, saying the\nimportance of the February 22 agreement to stabilize exchange\nrates had been underestimated.\n All partners had agreed that the dollar was at about the\nright level, and that further changes would damage growth, he\nsaid.\n \"This was a remarkable change in attitude, especially on the\npart of our American colleagues,\" he said.\n But he said there was still a danger that the correction of\nthe dollar's value could overshoot.\n REUTER\n\u0003",
"date": " 7-APR-1987 20:20:52.61",
"topics": [
"dlr",
"money-fx",
"trade",
"cpi",
"money-supply"
],
"places": [
"usa",
"west-germany"
],
"id": "14770"
},
{
"title": "N.Z. UNEMPLOYMENT RATE 3.9 PCT IN DECEMBER QUARTER",
"body": "New Zealand's unemployment rate was\n3.9 pct of the workforce in the quarter ended December 31,\nunchanged from a revised 3.9 pct (preliminary 3.8 pct) in the\nprevious quarter but slightly above 3.8 pct in the year-earlier\nquarter, the Statistics Department said.\n The Department, citing the Household Labour Force Survey,\nsaid in a statement the number of unemployed in October-\nDecember 1986 was 61,500 against 60,500 in the September\nquarter and 60,500 a year earlier.\n REUTER\n\u0003",
"date": " 7-APR-1987 20:24:33.93",
"topics": [
"jobs"
],
"places": [
"new-zealand"
],
"id": "14771"
},
{
"date": " 7-APR-1987 20:24:48.85",
"id": "14772"
},
{
"title": "DOLLAR OPENS EASIER IN TOKYO",
"body": "The dollar opened easier against major\ncurrencies on underlying negative sentiment, but is likely to\nmove marginally ahead of expected meetings of leading Finance\nMinisters in Washington this week, dealers said.\n The dollar is expected to move between 145.00 and 145.60\nyen today as operators avoid taking big positions, despite low\nexpectations from any Washington talks, dealers said. The\ndollar's upward potential looks limited as selling interest\nappears strong around 145.60 yen, they said.\n The dollar opened at 145.33 yen against 145.60/70 in New\nYork and 145.25 at the close here yesterday.\n The dollar opened at 1.8245/50 marks against 1.8270/80 in\nNew York. Sterling was unchanged from New York's 1.6175/85 dlr\nfinish.\n The market is generally sceptical about the outcome of any\nG-5 or G-7 meeting in Washington and the dollar is likely to\ncome under selling pressure which could push it towards 140 yen\nif no significant measures to stabilise currencies emerge,\ndealers said.\n They said Japan is expected to try to strengthen the Paris\naccord on currency stability, but added they expect\ndisagreement between Japan and other nations.\n Japanese officials travelling with Finance Minister Kiichi\nMiyazawa told Reuters the G-7 will meet today, but currency\ntarget zones or reference ranges will not be discussed.\n The Bank of Japan bought a small amount of dollars shortly\nafter the opening at around 145.30 yen, when a medium-sized\ntrading house started to sell the dollar, dealers said.\n The dollar opened at 1.5140/47 Swiss francs against\n1.5145/55 in New York.\n REUTER\n\u0003",
"date": " 7-APR-1987 20:28:19.19",
"id": "14773"
},
{
"date": " 7-APR-1987 20:30:30.76",
"id": "14774"
},
{
"date": " 7-APR-1987 20:32:46.78",
"id": "14775"
},
{
"title": "N.ZEALAND RESERVE BANK GIVES BOND TENDER DETAILS",
"body": "The Reserve Bank said it will offer\n400 mln N.Z. Dlrs in government bonds of two differing\nmaturities at a 14 pct coupon at a bond tender on April 15.\n The bank said it will offer 200 mln dlrs of bonds maturing\nMarch 1990 and 200 mln dlrs of bonds maturing July 1992.\n The bond tender is the first for the fiscal year ending on\nMarch 31 1988. A full bond tender program for the year has not\nyet been announced.\n REUTER\n\u0003",
"date": " 7-APR-1987 20:33:03.48",
"places": [
"new-zealand"
],
"id": "14776"
},
{
"title": "Bank of Japan buys dollars shortly after opening at around 145.30 yen -- dealers\n",
"date": " 7-APR-1987 20:37:05.36",
"topics": [
"dlr",
"money-fx"
],
"places": [
"japan"
],
"id": "14777"
},
{
"date": " 7-APR-1987 20:42:11.22",
"id": "14778"
},
{
"title": "BANK OF JAPAN INTERVENES SOON AFTER TOKYO OPENING",
"body": "The Bank of Japan bought a small amount of\ndollars shortly after the opening at around 145.30 yen, dealers\nsaid.\n The central bank intervened as a medium-sized trading house\nsold dollars, putting pressure on the U.S. Currency, they said.\n The dollar was also supported by a major electrical\nconsumer goods company, which was a speculative dollar buyer at\naround 145.25 yen, they added.\n The dollar opened at 145.33 yen against 145.60/70 in New\nYork and 145.25 at the close here yesterday.\n REUTER\n\u0003",
"date": " 7-APR-1987 20:46:16.53",
"topics": [
"dlr",
"money-fx"
],
"places": [
"japan"
],
"id": "14779"
},
{
"title": "U.S. DOLLAR OPENS LOWER IN HONG KONG",
"body": "The U.S. Dollar opened slightly lower\nin moderately active trading as bearish sentiment persisted,\ndealers said.\n They said the selling pressure was light ahead of expected\nmeetings of leading finance ministers in Washington this week.\nParticipants tended to keep their positions small and Bank of\nJapan intervention shortly after Tokyo's opening at around\n145.30 yen failed to have a strong impact on the market, they\nsaid.\n The dollar opened at 1.8247/57 marks against New York's\n1.8270/80 close and the 1.8205/15 finish here yesterday.\n The dollar opened at 145.40/50 yen but weakened to near\n145.30 when the Bank of Japan intervened. It finished at\n145.60/70 in New York and 145.15/20 here yesterday.\n Dealers said the dollar appeared to be holding comfortably\nabove the critical 145 yen level now as yesterday's attempt to\nbreak that level failed for lack of momentum. But the markets\ngenerally are not expecting much from the Washington talks\ntoday, they added.\n The dollar is expected to stay within a tight range today\nwith considerable selling pressure at the 145.60 yen and 1.8270\nmark levels, dealers said.\n Dealers said supportive remarks yesterday from Federal\nReserve chairman Paul Volcker and Japanese Finance Minister\nKiichi Miyazawa were ignored as players squared positions.\n Volcker told a Congressional committee the dollar's fall so\nfar should be \"large enough ... To support widespread\nexpectations of a narrowing in the real trade deficit in the\nperiod ahead.\"\n Miyazawa, after meeting Treasury Secretary James Baker,\nsaid they agreed on the need for currency stabilization and\nthat he was satisfied with the role the U.S. Has played in\nsupporting the dollar since the February Paris accord.\n Sterling opened at 1.6182/92 dlrs against New York's\n1.6175/85 close and the 1.6200/10 finish here yesterday.\n Dealers said sterling sentiment remains positive as the\nruling Conservative party maintained its lead in opinion polls.\nBut they said technical selling may depress it to 1.6150.\n The Hong Kong dollar opened at 7.8005/25 against its U.S.\nCounterpart compared with yesterday's 7.8015/35 close.\n Local interest rates tended easier with overnight opening\nat four 3-1/2 pct against yesterday's 4-1/2 four pct close.\n Asian dollar rates were steady with three months opening\nunchanged at 6-1/2 3/8 pct.\n The dollar started at 1.5147/57 Swiss francs against New\nYork's 1.5145/55 close and the 1.5137/47 finish here yesterday,\nand at 6.0690/0720 French francs against 6.0780/0810 and\n6.0600/20.\n REUTER\n\u0003",
"date": " 7-APR-1987 20:56:38.58",
"id": "14780"
},
{
"date": " 7-APR-1987 20:58:10.18",
"id": "14781"
},
{
"date": " 7-APR-1987 21:01:36.49",
"id": "14782"
},
{
"title": "JAPAN RUBBER STOCKS FALL IN MARCH",
"body": "Japan's rubber stocks fell to 44,980\ntonnes in March from 46,198 in February and from 53,784 in\nMarch 1986, the Japan Rubber Trade Association said.\n The stocks (in tonnes), with February and year-earlier\ncomparisons, were -\n March 87 Feb 87 March 86\n Crude Rubber 41,536 42,094 49,551\n Synthetic 3,334 3,978 4,044\n Latex 110 126 189\n REUTER\n\u0003",
"date": " 7-APR-1987 21:29:59.63",
"topics": [
"rubber"
],
"places": [
"japan"
],
"id": "14783"
},
{
"date": " 7-APR-1987 21:33:32.97",
"id": "14784"
},
{
"title": "SOUTH KOREAN WON FIXED AT 25-MONTH HIGH",
"body": "THE BANK OF KOREA SAID IT FIXED THE\nMIDRATE OF THE WON AT 844.30 TO THE DOLLAR, ITS HIGHEST LEVEL\nSINCE FEBRUARY 26, 1985, WHEN IT WAS 843.90.\n THE WON WAS SET at 845.50 YESTERDAY.\n THE WON HAS RISEN 2.03 PCT AGAINST THE DOLLAR SO FAR THIS\nYEAR, AFTER RISING 3.34 PCT IN 1986.\n REUTER\n\u0003",
"date": " 7-APR-1987 21:40:36.28",
"topics": [
"money-fx"
],
"places": [
"south-korea"
],
"id": "14785"
},
{
"title": "TOKYO GOLD FUTURES OPEN SLIGHTLY FIRMER",
"body": "Yen-denominated gold futures opened mostly\nfirmer, with contracts unchanged to eight yen per gram higher,\nafter falls yesterday, dealers said.\n Gold closed stronger and near the day's highs in New York\nyesterday, underpinned by a buoyant silver market, they noted.\n This generated sporadic buying at the opening here but\ninvestors continue to focus interest on the silver market, they\nsaid.\n International bullion firmed to 423.00/423.50 dlrs an ounce\nfrom 422.25/3.25 in New York.\n REUTER\n\u0003",
"date": " 7-APR-1987 21:47:14.35",
"id": "14786"
},
{
"date": " 7-APR-1987 21:48:47.26",
"id": "14787"
},
{
"date": " 7-APR-1987 21:53:45.81",
"id": "14788"
},
{
"date": " 7-APR-1987 21:57:38.22",
"id": "14789"
},
{
"date": " 7-APR-1987 22:03:42.54",
"id": "14790"
},
{
"title": "HONG KONG TERM MONEY 1000 - APR 8",
"body": "3 3/4\n one month 4 13/16 - 4 11/16\n two months 5 1/16 - 4 15/16\n three months 5 1/8 - 5\n six months 5 7/16 - 5 5/16\n 12 months 6 - 5 3/4\n\u0003",
"date": " 7-APR-1987 22:05:31.65",
"id": "14791"
},
{
"date": " 7-APR-1987 22:06:52.19",
"id": "14792"
},
{
"title": "GOLD OPENS FIRMER IN HONG KONG",
"body": "Gold opened firmer in fairly active\ntrading on continued buying interest and light short covering\nfollowing the sharp rise in New York, dealers said.\n They said gold drew its strength from the buoyant silver\nmarket which has been underpinned by speculative purchases.\n The metal opened at 422.80/423.20 U.S. Dlrs an ounce\nagainst New York's 422.25/423.25 close and the 420.00/50 finish\nhere yesterday.\n On the local market gold opened 26 H.K. Dlrs higher at\n3,930 H.K. Dlrs a tael.\n REUTER\n\u0003",
"date": " 7-APR-1987 22:08:11.07",
"id": "14793"
},
{
"date": " 7-APR-1987 22:09:36.26",
"id": "14794"
},
{
"date": " 7-APR-1987 22:14:14.06",
"id": "14795"
},
{
"date": " 7-APR-1987 22:15:48.17",
"id": "14796"
},
{
"title": "SYDNEY FINANCIAL FUTURES OPEN MIXED",
"body": "A sharp overnight fall on Wall Street due\nto profit taking and arbitrage related selling and a subsequent\nlocal share market slump led to a steep drop in most share\nprice index contracts, dealers said.\n They said domestic credit futures were higher, however, in\nresponse to lower yields in short term money markets as the\nAustralian dollar firmed and cash weakened.\n Comex-linked gold futures were higher as a result of rises\nin bullion. International credit futures were steady in\nextremely thin trade.\n June share price index futures opened lower at 1,730.0\nagainst yesterday's 1,735.5 close in moderate trade. September\nwas slightly higher at 1,741.0 against 1,737.0 in thin trade.\nAbout 950 lots changed hands.\n Dealers said the market, which seemed to lose its momentum\nlate yesterday, reacted badly to the 45 point drop in the Dow\nJones index. The all ordinaries index dropped 10.3 points to\n1,743.7 at mid-morning with losses across the board.\n June 90 day bank bills rose to 85.23 from yesterday's 85.16\nclose. September rose to 85.32 from 85.25. About 3,054\ncontracts were traded.\n Physical yields eased to 15.40 pct from 15.50.\n June 10-year bond futures, the only month to trade, were\nhigher at 86.92 against yesterday's 86.87 finish. About 5,433\nlots were exchanged.\n March 1997 paper was 13.09 pct, down from 13.11.\n June Comex-linked gold futures started strongly at 427.50\nU.S. Dlrs an ounce, up from 426.20 in New York and yesterday's\nclose of 425.00. Only two lots were traded.\n June U.S. T-bonds started at 97.02, down from a Chicago\nfinish of 97.08 and a close of 97.27, with 20 lots traded. June\nEurodollars were steady with only five lots exchanged.\n REUTER\n\u0003",
"date": " 7-APR-1987 22:17:44.64",
"id": "14797"
},
{
"date": " 7-APR-1987 22:18:37.78",
"id": "14798"
},
{
"title": "U.S. INTEREST RATE FUTURES OPEN SLIGHTLY LOWER",
"body": "U.S. Interest rate futures opened\nslightly lower on underlying weakness of the U.S. Dollar,\ndealers said.\n Sentiment was also dampened by a firmer federal funds rate\nand stable oil prices. Remarks by Federal Chairman Paul Volcker\nand Japanese Finance Minister Kiichi Miyazawa on the need for\nforeign exchange stability had little impact on the market,\nthey said.\n June eurodollar opened at 93.26 below Chicago's close of\n93.29 and September at 93.18 below 93.21 with around 720 lots\ntraded.\n June T-bond futures opened at 97.02 below Chicago's close\nof 97.08 on early turnover of 15 lots.\n REUTER\n\u0003",
"date": " 7-APR-1987 22:20:13.19",
"id": "14799"
},
{
"date": " 7-APR-1987 22:20:18.12",
"id": "14800"
},
{
"date": " 7-APR-1987 22:21:51.25",
"id": "14801"
},
{
"title": "SIMEX CURRENCY FUTURES EASE IN EARLY TRADING",
"body": "Simex currency futures eased in early\ndealings, after a higher opening in quiet and cautious trading,\ndealers said.\n They said operators were unwilling to take large positions\nahead of the expected group of seven ministers meeting in\nWashington today.\n Participants also were cautious because of persistent Bank\nof Japan dollar buying intervention, with dollar supportive\ncomments by Federal Reserve chairman and Japan's Finance\nMinister having little impact, dealers said.\n June mark eased to around 0.5500 dlrs from a 0.5510 opening\nand Chicago's 0.00501 and yen to 0.006910 against 0.006920 and\n0.006913. About 200 lots of mark and 65 lots of yen were\ntraded.\n June Sterling was indicated at 1.6075/85 dlrs against\nChicago's 1.6080 with no business seen in the first trading\nhour.\n Speculative buying helped Nikkei Stock Average Index\nfutures to firm in early trading, after a lower opening\nfollowing weaker New York stock market. June firmed to 22,920\nfrom a 22,550 low and 22,895 here yesterday with about 400 lots\nexchanged.\n Gold futures remained idle. REUTER\n\u0003",
"date": " 7-APR-1987 22:22:04.99",
"id": "14802"
},
{
"date": " 7-APR-1987 22:22:29.49",
"id": "14803"
},
{
"date": " 7-APR-1987 22:23:12.71",
"id": "14804"
},
{
"title": "NIPPON MINING LOWERS COPPER PRICE",
"body": "Nippon Mining Co Ltd said it lowered its\nselling price for electrolytic copper by 10,000 yen per tonne\nto 260,000, effective immediately.\n REUTER\n\u0003",
"date": " 7-APR-1987 22:33:14.30",
"topics": [
"copper"
],
"places": [
"japan"
],
"id": "14805"
},
{
"date": " 7-APR-1987 22:42:00.97",
"id": "14806"
},
{
"date": " 7-APR-1987 22:44:27.44",
"id": "14807"
},
{
"date": " 7-APR-1987 22:45:38.20",
"id": "14808"
},
{
"title": "REUTER WORLD NEWS HIGHLIGHTS 0300 GMT - APRIL 8",
"body": "President Reagan ordered a high-level review\nof U.S. Embassy security amid rising concern over a sex-and-spy\nscandal in the Moscow embassy which he said had wide\nimplications. At the same time he said Soviet diplomats will\nnot be allowed to use their new embassy in Washington until the\nU.S. Embassy in Moscow was made secure.\n BAHRAIN - Iranian forces have renewed their assault on\nIraqi lines defending the southern city of Basra and gained\nwhat Baghdad described as \"footholds\" on Iraqi territory.\n BEIRUT - Syria intervened to halt months of fighting over\nPalestinian refugee camps besieged by Amal militia.\n CAIRO - The ruling National Democratic Party of President\nHosni Mubarak took 75 pct of the seven mln votes cast in\nMonday's general election, but incomplete official results\nindicated some Socialist and Moslem Brotherhood gains.\n WASHINGTON - U.S. And NATO forces are monitoring what seems\nto be the largest deployment of Soviet attack submarines in the\nWestern Atlantic since 1985, the Pentagon said.\n ROME - Partners in Italy's collapsing coalition government\nheaded for a showdown in a parliamentary vote of confidence.\n PARIS - France's conservative government won as expected a\nparliamentary vote of confidence sought by Prime Minister\nJacques Chirac on his general policies.\n ROME - Israeli Foreign Minister Shimon Peres discussed the\nMiddle East with Palestinian and Soviet officials at a\nSocialist International committee meeting here.\n WASHINGTON - Jordanian Prime Minister Zaid al-Rifa'i said\nhe had made progress in talks with U.S. Secretary of State\nGeorge Shultz on the possibility of convening an international\nconference on Middle East peace.\n BELFAST - A British soldier was shot and seriously hurt in\nNorthern Ireland and buses and lorries were hijacked and set on\nfire after mourners clashed with police at an Irish Republican\nArmy funeral.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:03:04.28",
"id": "14809"
},
{
"date": " 7-APR-1987 23:03:21.00",
"id": "14810"
},
{
"title": "ASIAN DOLLAR DEPOSITS OPEN QUIETLY MIXED",
"body": "Asian dollar deposit rates opened\nnarrowly mixed in quiet trading, dealers said.\n They said the market ignored dollar supportive comments by\nU.S. Federal Reserve Chairman Paul Volcker and Japanese Finance\nMinsiter Kiichi Miyazawa.\n The U.S. Federal Reserve's addition of temporary reserves\nvia two-day system repurchase agreements when fed funds were\ntrading at 6-1/8 pct also had little effect on the market.\n Short-dates were unchanged to slightly higher underpinned\nby a steady U.S. Fed funds rate. Overnight was little changed\nat 6-5/16 6-3/16 and week-fixed rose 1/16 point to 6-3/8 6-1/4.\n Dealers said most operators refrained from taking large\npositions as they await more news from the expected currency\ntalks in Washington starting today.\n Among period rates, one month eased 1/16 point to 6-7/16\n6-5/16 pct, three and six months were unchanged at 6-9/16\n6-7/16 and 6-11/16 6-9/16 pct, respectively while one year\ngaind 1/16 point to 6-7/8 6-3/4 pct.\n Asian dollar CD rates opened mixed in quiet trading. One\nmonth slipped to 6.40/30 pct from 6.45/35 yesterday, three\nmonths was steady at 6.55/45 pct but six months rose slightly\nto 6.70/60 pct from 6.65/55.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:07:08.15",
"id": "14811"
},
{
"date": " 7-APR-1987 23:12:55.76",
"id": "14812"
},
{
"title": "YEN BOND FUTURES HIT RECORD HIGH IN EARLY TRADE",
"body": "Yen bond futures prices hit record highs\nin early trade in response to the early jump in the cash bond\nmarket on speculative purchases by brokers, dealers said.\n Key June was 111.31 after hitting a record high earlier of\n111.48, against an opening of 111.02. It closed at 110.68\nyesterday. September was 110.10, below the earlier record of\n110.15 and against a 109.40 close.\n The rally was triggered by a fall in short-term interest\nrates and heavy broker speculation in expectation of more\nend-investor purchases. But prices eased towards end-morning as\nthe cash bond market fell on profit taking, dealers said.\n The yen unconditional call rate was 3.5000 pct today, down\nfrom 3.6250 pct yesterday.\n The Bank of Japan sold a total of 800 billion yen worth of\nfinancial bills from its holdings to help absorb a projected\nmoney market surplus of 1,300 billion yen due to allocation of\ngovernment revenues to local governments and public entities\nand the return of bank notes.\n Dealers were divided about whether expectations of another\ndiscount rate cut have been built into the market. Some dealers\nsaid it is too early for the market to discount a rate cut and\nprojected a possible sudden market retreat.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:13:05.04",
"id": "14813"
},
{
"date": " 7-APR-1987 23:16:37.25",
"id": "14814"
},
{
"date": " 7-APR-1987 23:18:23.63",
"id": "14815"
},
{
"title": "H.K. OFFICIAL, STOCK EXCHANGE BAR JARDINE ISSUE",
"body": "Securities Commissioner Ray Astin and\nChairman of the Stock Exchange of Hong Kong Ronald Li said in a\njoint statement they have rejected a plan by Jardine Matheson\nHoldings Ltd <JARD.HK> to list its new \"B\" shares and that other\nsuch plans will not be approved.\n They said the move resulted from recognition of the\npotential disadvantages of listing \"B\" shares and from strong\nopposition by stock brokers and members of the exchange.\n They also noted both Cheung Kong (Holdings) Ltd <CKGH.HK>\nand associate Hutchison Whampoa Ltd <HWHH.HK> have agreed to\nwithdraw previously announced plans to issue \"B\" shares.\n The Cheung Kong firms each announced bonus issues of one\nnew \"B\" share for each two ordinary shares last week after a\nproposed four-for-one bonus issue of \"B\" shares by Jardine.\n The stock exchange then barred any further issues of \"B\"\nshares, except the three proposals already submitted. The \"B\"\nshares have equal voting rights with existing shares but a much\nlower par value.\n The exchange's Hang Seng index lost 134 points between\nJardine Matheson's March 27 announcement and its close at\n2,664.70 yesterday. But the index rose over 40 points in early\ntrading today and brokers linked the rise to the statement.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:30:06.08",
"places": [
"hong-kong"
],
"id": "14816"
},
{
"date": " 7-APR-1987 23:34:47.37",
"id": "14817"
},
{
"title": "AUSTRALIAN UNIONS LAUNCH NEW SOUTH WALES STRIKES",
"body": "Australian trade unions said they have\nlaunched week-long strikes and other industrial action in New\nSouth Wales (NSW) to protest against new laws that would reduce\ninjury compensation payments.\n Union sources said talks with the state government broke\ndown last night, but the two sides are scheduled to meet later\ntoday in an attempt to find a compromise.\n Rail freight and shipping cargo movements in the country's\nmost populous state were the first to be affected, and union\nofficials said almost every business sector will be hit unless\nthere is a quick settlement.\n The state government recently introduced a new workers'\ncompensation act which would cut the cash benefits to injured\nworkers by up to a third. The act is now awaiting parliamentary\nratification.\n NSW state premier Barrie Unsworth has said workers'\ncompensation has risen steeply in recent years and the proposed\ncuts would save hundreds of mlns of dollars a year.\n Union officials said industrial action could spread to\nother states as the federal government also plans to make sharp\ncuts in workers' compensation.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:35:21.36",
"topics": [
"ship"
],
"places": [
"australia"
],
"id": "14818"
},
{
"title": "JAPAN'S LDP URGES MORE IMPORTS OF 12 FARM ITEMS",
"body": "The ruling Liberal Democratic Party (LDP)\nhas proposed expanding imports of 12 farm products named in a\nU.S. Complaint against Japan to the General Agreement on\nTariffs and Trade last year, an LDP official said.\n The products include fruit juices, purees and pulp, some\ntomato products, peanuts, prepared beef products and beans.\n The proposal will be used as the basis for a more detailed\nLDP economic package to cut the trade surplus with the U.S. The\nparty is expected to formalise the package before April 19,\nwhen LDP General Council Chairman Shintaro Abe visits\nWashington.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:38:59.48",
"places": [
"japan"
],
"id": "14819"
},
{
"title": "JAPANESE OFFICIAL TAKES DATA TO MICROCHIP TALKS",
"body": "Ministry of International Trade and\nIndustry (MITI) Vice Minister Makoto Kuroda leaves for\nWashington today with data he hopes will refute U.S. Charges\nJapan has violated a pact on microchip trade.\n A three-man Japanese trade team is already in Washington\nlaying the groundwork for talks between Kuroda and Deputy U.S.\nTrade Representative Michael Smith aimed at persuading the U.S.\nNot to impose tariffs on certain Japanese products.\n But Kuroda said he is taking no new proposals. \"I have\nnothing in my briefcase except an explanation of the current\nsituation,\" Kuroda told the daily newspaper Asahi Shimbun.\n Kuroda said the U.S. Decision was based on incorrect data\nand an exaggerated sense of MITI's power to control market\nforces. \"The U.S. Has excessive expectations. To stabilise\nsupply-demand relations which have been disrupted by excess\ninventories since 1985 will take some time,\" he said.\n Kuroda also laid part of the blame for low U.S. Chip sales\nin Japan on a lack of effort by American firms here.\n He said if he fails in talks tomorrow and Friday to\nforestall sanctions, he will seek further talks with U.S. Trade\nRepresentative Clayton Yeutter. U.S. Officials said this week's\ntalks are unlikely to delay imposition of tariffs.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:49:49.85",
"places": [
"japan",
"usa"
],
"id": "14820"
},
{
"date": " 7-APR-1987 23:58:43.88",
"id": "14821"
},
{
"date": " 7-APR-1987 23:58:56.24",
"id": "14822"
},
{
"title": "SHARP CORP <SHRP.T> TO SET UP PLANT IN THAILAND",
"body": "Sharp Corp will set up a 100 pct-owned\nsubsidiary in Thailand to make microwave ovens and\nrefrigerators for export to the U.S. And western Europe, a\ncompany spokesman said.\n The company, to be named <Sharp Appliances (Thailand) Ltd>,\nwill be capitalised at 2.1 billion yen and start operations in\nOctober, he told Reuters.\n Sharp hopes the subsidiary, which will use parts from Japan\nand southeast Asia, will eventually produce other electric\nappliances, he said.\n REUTER\n\u0003",
"date": " 7-APR-1987 23:59:50.45",
"places": [
"japan",
"thailand"
],
"id": "14823"
},
{
"title": "YUGOSLAV WORKERS MAY BE ANGERED BY LOST SUBSIDIES",
"body": "Yugoslav government plans to stop\nsubsidising loss-making firms will anger hundreds of thousands\nof workers, Western diplomats said.\n The law, proposed by Prime Minister Branko Mikulic, goes\ninto effect on July 1 and aims to end a long-standing practice\nof supporting unprofitable companies. Under the law, wage cuts\nwill be imposed on losing enterprises, while those failing to\nrecover within a six-month grace period will face liquidation.\n The diplomats said Mikulic's attempt to create a market\neconomy is inevitable, but has still come as a shock to those\naccustomed to government subsidies.\n \"It was a bitter pill which had to be swallowed, but if an\noverdose is taken too abruptly, it may have adverse effects on\nthe system,\" a Western diplomat said.\n He said if the law was applied too strictly it would\nprobably provoke a new wave of strikes and unrest.\n Yugoslavia was swept by strikes last month following the\nintroduction of a wage-freeze law, later amended to allow more\nflexibility and some exemptions in what some political analysts\nsaw as a retreat by Mikulic.\n But with inflation moving towards 100 pct, trade union\nleaders have asked how much more deprivation workers can take.\n The union leaders said workers thoughout the country are\nalready receiving salaries below limits set under existing law,\nwhile others have received no wages at all this year because\ntheir employers are unable to pay them.\n Workers also complain much of their income is taken in\nlocal, state and federal taxes.\n Many others are losing their motivation to work and\nconfidence in government as they feel their decision-making\npowers are being eroded, trade union officials said.\n Meanwhile, the official Tanjug news agency reported a paper\nand cellulose factory at Ivangrad in the Montenegro republic\nclosed yesterday and 2,000 of its workers were given \"temporary\nleave.\"\n Tanjug said the plant had been running at a loss for the 24\nyears it had been in operation, and its closure was the result\nof \"economic necessity\" rather than bankruptcy.\n REUTER\n\u0003",
"date": " 8-APR-1987 00:38:26.78",
"places": [
"yugoslavia"
],
"id": "14824"
},
{
"title": "FRENCH GOVERNMENT WINS CONFIDENCE VOTE",
"body": "The French government won, as expected, a\nvote of parliamentary confidence sought by Prime Minister\nJacques Chirac on his general policies.\n Votes from Chirac's Gaullist RPR party and its junior\npartner in the ruling coalition, the centre-right UDF, gave\nChirac's cabinet a slim majority in the National Assembly.\n A total of 294 deputies in the 577-member assembly voted to\nsupport Chirac, with 282 voting against. One member was absent.\n The Socialists, Communists and the extreme-right National\nFront voted against the prime minister's call.\n REUTER\n\u0003",
"date": " 8-APR-1987 00:44:28.08",
"places": [
"france"
],
"id": "14825"
},
{
"title": "ASIAN EXPORTERS FEAR DAMAGE FROM U.S.-JAPAN RIFT",
"body": "Mounting trade friction between the\nU.S. And Japan has raised fears among many of Asia's exporting\nnations that the row could inflict far-reaching economic\ndamage, businessmen and officials said.\n They told Reuter correspondents in Asian capitals a U.S.\nMove against Japan might boost protectionist sentiment in the\nU.S. And lead to curbs on American imports of their products.\n But some exporters said that while the conflict would hurt\nthem in the long-run, in the short-term Tokyo's loss might be\ntheir gain.\n The U.S. Has said it will impose 300 mln dlrs of tariffs on\nimports of Japanese electronics goods on April 17, in\nretaliation for Japan's alleged failure to stick to a pact not\nto sell semiconductors on world markets at below cost.\n Unofficial Japanese estimates put the impact of the tariffs\nat 10 billion dlrs and spokesmen for major electronics firms\nsaid they would virtually halt exports of products hit by the\nnew taxes.\n \"We wouldn't be able to do business,\" said a spokesman for\nleading Japanese electronics firm Matsushita Electric\nIndustrial Co Ltd <MC.T>.\n \"If the tariffs remain in place for any length of time\nbeyond a few months it will mean the complete erosion of\nexports (of goods subject to tariffs) to the U.S.,\" said Tom\nMurtha, a stock analyst at the Tokyo office of broker <James\nCapel and Co>.\n In Taiwan, businessmen and officials are also worried.\n \"We are aware of the seriousness of the U.S. Threat against\nJapan because it serves as a warning to us,\" said a senior\nTaiwanese trade official who asked not to be named.\n Taiwan had a trade trade surplus of 15.6 billion dlrs last\nyear, 95 pct of it with the U.S.\n The surplus helped swell Taiwan's foreign exchange reserves\nto 53 billion dlrs, among the world's largest.\n \"We must quickly open our markets, remove trade barriers and\ncut import tariffs to allow imports of U.S. Products, if we\nwant to defuse problems from possible U.S. Retaliation,\" said\nPaul Sheen, chairman of textile exporters <Taiwan Safe Group>.\n A senior official of South Korea's trade promotion\nassociation said the trade dispute between the U.S. And Japan\nmight also lead to pressure on South Korea, whose chief exports\nare similar to those of Japan.\n Last year South Korea had a trade surplus of 7.1 billion\ndlrs with the U.S., Up from 4.9 billion dlrs in 1985.\n In Malaysia, trade officers and businessmen said tough\ncurbs against Japan might allow hard-hit producers of\nsemiconductors in third countries to expand their sales to the\nU.S.\n In Hong Kong, where newspapers have alleged Japan has been\nselling below-cost semiconductors, some electronics\nmanufacturers share that view. But other businessmen said such\na short-term commercial advantage would be outweighed by\nfurther U.S. Pressure to block imports.\n \"That is a very short-term view,\" said Lawrence Mills,\ndirector-general of the Federation of Hong Kong Industry.\n \"If the whole purpose is to prevent imports, one day it will\nbe extended to other sources. Much more serious for Hong Kong\nis the disadvantage of action restraining trade,\" he said.\n The U.S. Last year was Hong Kong's biggest export market,\naccounting for over 30 pct of domestically produced exports.\n The Australian government is awaiting the outcome of trade\ntalks between the U.S. And Japan with interest and concern,\nIndustry Minister John Button said in Canberra last Friday.\n \"This kind of deterioration in trade relations between two\ncountries which are major trading partners of ours is a very\nserious matter,\" Button said.\n He said Australia's concerns centred on coal and beef,\nAustralia's two largest exports to Japan and also significant\nU.S. Exports to that country.\n Meanwhile U.S.-Japanese diplomatic manoeuvres to solve the\ntrade stand-off continue.\n Japan's ruling Liberal Democratic Party yesterday outlined\na package of economic measures to boost the Japanese economy.\n The measures proposed include a large supplementary budget\nand record public works spending in the first half of the\nfinancial year.\n They also call for stepped-up spending as an emergency\nmeasure to stimulate the economy despite Prime Minister\nYasuhiro Nakasone's avowed fiscal reform program.\n Deputy U.S. Trade Representative Michael Smith and Makoto\nKuroda, Japan's deputy minister of International Trade and\nIndustry (MITI), are due to meet in Washington this week in an\neffort to end the dispute.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:03:47.52",
"topics": [
"trade"
],
"places": [
"hong-kong",
"usa",
"japan",
"taiwan",
"malaysia",
"south-korea",
"australia"
],
"id": "14826"
},
{
"title": "UAL <UAL.N> PILOTS PROPOSE WAGE CUT TO FUND BUYOUT",
"body": "The union representing 7,000 pilots at\nUnited Airlines is proposing wage cuts of up to 25 pct to help\nfinance a 4.5 billion dlr employee buyout of the nation's\nsecond largest air carrier.\n In a television link-up of 10,000 employees at 11 sites\nnationwide, the Air Line Pilots Association unveiled details of\na planned employee stock ownership plan for United, a\nwholly-owned subsidiary of UAL Inc.\n The proposed wage cuts would affect senior pilots the most,\nalthough the other 53,000 workers employed by United would also\nbe asked to accept less pay.\n In addition, the union is asking its pilots to invest\none-third of the union pension fund's 1.1 billion dlrs in the\nproposed employee-owned company.\n In an effort to get the rank and file to contribute five\npct of their earnings, United's 21-member master executive\ncouncil donated 150,000 dlrs in cash and committed 2.1 mln dlrs\nin pension fund assets for acquisition of new preferred shares.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:12:53.29",
"places": [
"usa"
],
"id": "14827"
},
{
"title": "CHINA DAILY SAYS VERMIN EAT 7-12 PCT GRAIN STOCKS",
"body": "A survey of 19 provinces and seven cities\nshowed vermin consume between seven and 12 pct of China's grain\nstocks, the China Daily said.\n It also said that each year 1.575 mln tonnes, or 25 pct, of\nChina's fruit output are left to rot, and 2.1 mln tonnes, or up\nto 30 pct, of its vegetables. The paper blamed the waste on\ninadequate storage and bad preservation methods.\n It said the government had launched a national programme to\nreduce waste, calling for improved technology in storage and\npreservation, and greater production of additives. The paper\ngave no further details.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:19:17.29",
"topics": [
"grain"
],
"places": [
"china"
],
"id": "14828"
},
{
"title": "JAPAN TO REVISE LONG-TERM ENERGY DEMAND DOWNWARDS",
"body": "The Ministry of International Trade and\nIndustry (MITI) will revise its long-term energy supply/demand\noutlook by August to meet a forecast downtrend in Japanese\nenergy demand, ministry officials said.\n MITI is expected to lower the projection for primary energy\nsupplies in the year 2000 to 550 mln kilolitres (kl) from 600\nmln, they said.\n The decision follows the emergence of structural changes in\nJapanese industry following the rise in the value of the yen\nand a decline in domestic electric power demand.\n MITI is planning to work out a revised energy supply/demand\noutlook through deliberations of committee meetings of the\nAgency of Natural Resources and Energy, the officials said.\n They said MITI will also review the breakdown of energy\nsupply sources, including oil, nuclear, coal and natural gas.\n Nuclear energy provided the bulk of Japan's electric power\nin the fiscal year ended March 31, supplying an estimated 27\npct on a kilowatt/hour basis, followed by oil (23 pct) and\nliquefied natural gas (21 pct), they noted.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:22:17.25",
"topics": [
"crude",
"nat-gas"
],
"places": [
"japan"
],
"id": "14829"
},
{
"title": "NISSAN MAY SUPPLY PARTS TO MEXICAN FORD, CHRYSLER",
"body": "Nissan Motor Co Ltd <NSAN.T> is\nnegotiating the supply of car components to Mexican units of\nFord Motor Co <F> and Chrysler Corp <C>, a Nissan spokeswoman\nsaid.\n <Nissan Mexicana SA de CV> is owned 96.4 pct by Nissan and\n3.6 pct by Marubeni Corp <MART.T>. It expects to win orders for\nprecision casting parts for engines, and aluminium cases for\nautomatic transmissions.\n These will supply output of 70,000 mid-size cars a year at\nChrysler's Mexican unit, the spokeswoman said.\n Nissan is negotiating a similar deal to supply Ford's\nMexican unit with precision casting parts for car engines, the\nspokeswoman said, without providing further details.\n The company is expected to reach agreements with both U.S.\nCar makers sometime this year, she said.\n Nissan Mexicana will invest about 400 mln yen to improve\nproduction facilities after the agreements are signed, she\nsaid.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:26:33.18",
"places": [
"japan",
"mexico"
],
"id": "14830"
},
{
"title": "NEW ZEALAND RAISES FOREIGN INVESTMENT THRESHOLD",
"body": "Foreigners will be able to invest up\nto two mln N.Z. Dlrs in New Zealand assets without getting\napproval from the Overseas Investment Commission, the\nCommission said.\n The decision, effective tomorrow raises the threshold from\nits previous level of 500,000 dlrs, it said in a statement.\n \"The new level is felt to be more appropriate to objectives\ngiven the present cost structure involved in operating a\nbusiness in New Zealand,\" the commission said. The increase does\nnot apply to the acquisition of shares.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:28:33.99",
"places": [
"new-zealand"
],
"id": "14831"
},
{
"title": "THAI TRADE DEFICIT WIDENS IN FIRST QUARTER",
"body": "Thailand's trade deficit widened to 4.5\nbillion baht in the first quarter of 1987 from 2.1 billion a\nyear ago, the Business Economics Department said.\n It said Janunary/March imports rose to 65.1 billion baht\nfrom 58.7 billion. Thailand's improved business climate this\nyear resulted in a 27 pct increase in imports of raw materials\nand semi-finished products.\n The country's oil import bill, however, fell 23 pct in the\nfirst quarter due to lower oil prices.\n The department said first quarter exports expanded to 60.6\nbillion baht from 56.6 billion.\n Export growth was smaller than expected due to lower\nearnings from many key commodities including rice whose\nearnings declined 18 pct, maize 66 pct, sugar 45 pct, tin 26\npct and canned pineapples seven pct.\n Products registering high export growth were jewellery up\n64 pct, clothing 57 pct and rubber 35 pct.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:45:09.09",
"topics": [
"trade",
"grain",
"rice",
"corn",
"sugar",
"tin",
"rubber"
],
"places": [
"thailand"
],
"id": "14832"
},
{
"title": "INDONESIA SEES CPO PRICE RISING SHARPLY",
"body": "Indonesia expects crude palm oil (CPO)\nprices to rise sharply to between 450 and 550 dlrs a tonne FOB\nsometime this year because of better European demand and a fall\nin Malaysian output, Hasrul Harahap, junior minister for tree\ncrops, told Indonesian reporters.\n Prices of Malaysian and Sumatran CPO are now around 332\ndlrs a tonne CIF for delivery in Rotterdam, traders said.\n Harahap said Indonesia would maintain its exports, despite\nmaking recent palm oil purchases from Malaysia, so that it\ncould possibly increase its international market share.\n Indonesia, the world's second largest producer of palm oil\nafter Malaysia, has been forced to import palm oil to ensure\nsupplies during the Moslem fasting month of Ramadan.\n Harahap said it was better to import to cover a temporary\nshortage than to lose export markets.\n Indonesian exports of CPO in calendar 1986 were 530,500\ntonnes, against 468,500 in 1985, according to central bank\nfigures.\n REUTER\n\u0003",
"date": " 8-APR-1987 01:48:20.11",
"topics": [
"veg-oil",
"palm-oil"
],
"places": [
"indonesia",
"malaysia"
],
"id": "14833"
},
{
"title": "JAPANESE CONSORTIUM WINS NEW YORK SUBWAY CAR ORDER",
"body": "<Nissho Iwai Corp> and Kawasaki Heavy\nIndustries Ltd <KAWH.T> have jointly won an order to build 200\nsubway cars worth about 200 mln dlrs for the Metropolitan\nTransportation Authority of New York, a Nissho spokesman said.\n The cars, to be produced with 51 pct U.S. Content, will be\ndelivered between early 1988 and August 1989, he said.\n Ten will be built in Japan, but the others will be made at\na Yonkers, New York, plant equally owned by Nissho and\nKawasaki.\n REUTER\n\u0003",
"date": " 8-APR-1987 02:05:21.59",
"places": [
"usa",
"japan"
],
"id": "14834"
},
{
"title": "Japan four-year note auction average yield record low 3.714 pct, stop 3.743 -official\n",
"date": " 8-APR-1987 02:11:57.43",
"id": "14835"
},
{
"title": "Tokyo stock market index rises 128.34 to record close of 22,912.99\n",
"date": " 8-APR-1987 02:22:19.62",
"id": "14836"
},
{
"title": "U.S. HOUSE COMMITTEE PROPOSES DEFENCE CUTS",
"body": "The House Armed Services Committee\nlast night proposed cutting President Reagan's funding request\nfor the Strategic Defence Initiative program by 1.7 billion\ndlrs to 3.5 billion.\n The committee also cut by more than half the amount the\npresident requested for a rail system for strategic missiles.\nIt approved 250 mln dlrs for the project during its\nconsideration of the 1988 defence authorisation bill.\n The committee's proposals must be adopted by the full House\nand Senate before becoming law. The administration's total\nrequest for 1988 defence spending was 312 billion dlrs.\n REUTER\n\u0003",
"date": " 8-APR-1987 02:30:36.13",
"places": [
"usa"
],
"id": "14837"
},
{
"title": "NEC SUES SEIKO EPSON OVER COPYRIGHT INFRINGEMENT",
"body": "NEC Corp <NESI.T> filed suit in Tokyo\nDistrict Court to temporarily halt the manufacture and\nmarketing of <Seiko Epson Corp>'s NEC-compatible personal\ncomputer series, an NEC spokesman said.\n He said Seiko Epson's PC 286 computer and HDD-20 interface\nboard infringe on software copyrights of the Basic In Out\nSystem program of NEC's best-selling 9801 computer series.\n A spokesman for Seiko Epson, which is part of the Hattori\nSeiko Co Ltd <HATT.T> group, said its computer does not\ninfringe on any copyrights and will be marketed this month.\n The HDD-20 interface board went on sale last December.\n NEC's request for an injunction against Seiko Epson and its\nmarketing subsidiary is the first entirely domestic lawsuit\ncharging infringement of computer software copyrights, the\nSeiko Epson spokesman said.\n Share market analysts said that NEC controls about 70 pct\nof Japan's personal computer market.\n Introduction of NEC-compatible machines could spark a price\nwar and cut NEC's profits, as happened to International\nBusiness Machines Corp <IBM> following the introduction of\nIBM-compatible machines, they added.\n REUTER\n\u0003",
"date": " 8-APR-1987 02:33:11.33",
"places": [
"usa"
],
"id": "14838"
},
{
"title": "AUSTRALIAN FOREIGN SHIP BAN ENDS BUT NSW PORTS HIT",
"body": "Tug crews in New South Wales (NSW),\nVictoria and Western Australia yesterday lifted their ban on\nforeign-flag ships carrying containers but NSW ports are still\nbeing disrupted by a separate dispute, shipping sources said.\n The ban, imposed a week ago over a pay claim, had prevented\nthe movement in or out of port of nearly 20 vessels, they said.\n The pay dispute went before a hearing of the Arbitration\nCommission today.\n Meanwhile, disruption began today to cargo handling in the\nports of Sydney, Newcastle and Port Kembla, they said.\n The industrial action at the NSW ports is part of the week\nof action called by the NSW Trades and Labour Council to\nprotest changes to the state's workers' compensation laws.\n The shipping sources said the various port unions appear to\nbe taking it in turn to work for a short time at the start of\neach shift and then to walk off.\n Cargo handling in the ports has been disrupted, with\ncontainer movements most affected, but has not stopped\naltogether, they said.\n They said they could not say how long the disruption will\ngo on and what effect it will have on shipping movements.\n REUTER\n\u0003",
"date": " 8-APR-1987 02:42:14.86",
"topics": [
"ship"
],
"places": [
"australia"
],
"id": "14839"
},
{
"title": "INDONESIAN COMMODITY EXCHANGE MAY EXPAND",
"body": "The Indonesian Commodity Exchange is\nlikely to start trading in at least one new commodity, and\npossibly two, during calendar 1987, exchange chairman Paian\nNainggolan said.\n He told Reuters in a telephone interview that trading in\npalm oil, sawn timber, pepper or tobacco was being considered.\n Trading in either crude palm oil (CPO) or refined palm oil\nmay also be introduced. But he said the question was still\nbeing considered by Trade Minister Rachmat Saleh and no\ndecision on when to go ahead had been made.\n The fledgling exchange currently trades coffee and rubber\nphysicals on an open outcry system four days a week.\n \"Several factors make us move cautiously,\" Nainggolan said.\n\"We want to move slowly and safely so that we do not make a\nmistake and undermine confidence in the exchange.\"\n Physical rubber trading was launched in 1985, with coffee\nadded in January 1986. Rubber contracts are traded FOB, up to\nfive months forward. Robusta coffee grades four and five are\ntraded for prompt delivery and up to five months forward,\nexchange officials said.\n The trade ministry and exchange board are considering the\nintroduction of futures trading later for rubber, but one\nofficial said a feasibility study was needed first. No\ndecisions are likely until after Indonesia's elections on April\n23, traders said.\n Trade Minister Saleh said on Monday that Indonesia, as the\nworld's second largest producer of natural rubber, should\nexpand its rubber marketing effort and he hoped development of\nthe exchange would help this.\n Nainggolan said that the exchange was trying to boost\noverseas interest by building up contacts with end-users.\n He said teams had already been to South Korea and Taiwan to\nencourage direct use of the exchange, while a delegation would\nalso visit Europe, Mexico and some Latin American states to\nencourage participation.\n Officials say the infant exchange has made a good start\nalthough trading in coffee has been disappointing.\n Transactions in rubber between the start of trading in\nApril 1985 and December 1986 totalled 9,595 tonnes, worth 6.9\nmln dlrs FOB, plus 184.3 mln rupiah for rubber delivered\nlocally, the latest exchange report said.\n Trading in coffee in calendar 1986 amounted to only 1,905\ntonnes in 381 lots, valued at 6.87 billion rupiah.\n Total membership of the exchange is now nine brokers and\n44 traders.\n REUTER\n\u0003",
"date": " 8-APR-1987 02:56:07.22",
"topics": [
"veg-oil",
"palm-oil",
"lumber",
"coffee",
"rubber"
],
"places": [
"indonesia",
"south-korea",
"taiwan"
],
"id": "14840"
},
{
"title": "SRI LANKA GETS USDA APPROVAL FOR WHEAT PRICE",
"body": "Food Department officials said the U.S.\nDepartment of Agriculture approved the Continental Grain Co\nsale of 52,500 tonnes of soft wheat at 89 U.S. Dlrs a tonne C\nand F from Pacific Northwest to Colombo.\n They said the shipment was for April 8 to 20 delivery.\n REUTER\n\u0003",
"date": " 8-APR-1987 03:09:59.77",
"topics": [
"grain",
"wheat"
],
"places": [
"sri-lanka",
"usa"
],
"id": "14841"
},
{
"title": "WESTERN MINING TO OPEN NEW GOLD MINE IN AUSTRALIA",
"body": "Western Mining Corp Holdings Ltd\n<WMNG.S> (WMC) said it will establish a new joint venture gold\nmine in the Northern Territory at a cost of about 21 mln dlrs.\n The mine, to be known as the Goodall project, will be owned\n60 pct by WMC and 40 pct by a local W.R. Grace and Co <GRA>\nunit. It is located 30 kms east of the Adelaide River at Mt.\nBundey, WMC said in a statement\n It said the open-pit mine, with a conventional leach\ntreatment plant, is expected to produce about 50,000 ounces of\ngold in its first year of production from mid-1988. Annual ore\ncapacity will be about 750,000 tonnes.\n REUTER\n\u0003",
"date": " 8-APR-1987 03:21:39.74",
"topics": [
"gold"
],
"places": [
"australia"
],
"id": "14842"
},
{
"title": "SUMITOMO BANK AIMS AT QUICK RECOVERY FROM MERGER",
"body": "Sumitomo Bank Ltd <SUMI.T> is certain to\nlose its status as Japan's most profitable bank as a result of\nits merger with the Heiwa Sogo Bank, financial analysts said.\n Osaka-based Sumitomo, with desposits of around 23.9\ntrillion yen, merged with Heiwa Sogo, a small, struggling bank\nwith an estimated 1.29 billion dlrs in unrecoverable loans, in\nOctober.\n But despite the link-up, Sumitomo President Koh Komatsu\ntold Reuters he is confident his bank can quickly regain its\nposition.\n \"We'll be back in position in first place within three\nyears,\" Komatsu said in an interview.\n He said that while the merger will initially reduce\nSumitomo's profitability and efficiency, it will vastly expand\nSumitomo's branch network in the Tokyo metropolitan area where\nit has been relatively weak.\n But financial analysts are divided on whether and how\nquickly the gamble will pay off.\n Some said Sumitomo may have paid too much for Heiwa Sogo in\nview of the smaller bank's large debts. Others argue the merger\nwas more cost effective than creating a comparable branch\nnetwork from scratch.\n The analysts agreed the bank was aggressive. It has\nexpanded overseas, entered the lucrative securities business\nand geared up for domestic competition, but they questioned the\nwisdom of some of those moves.\n \"They've made bold moves to put everything in place. Now\nit's largely out of their hands,\" said Kleinwort Benson Ltd\nfinancial analyst Simon Smithson.\n Among Sumitomo's problems are limits placed on its move to\nenter U.S. Securities business by taking a share in American\ninvestment bank Goldman, Sachs and Co.\n Sumitomo last August agreed to pay 500 mln dlrs for a 12.5\npct limited partnership in the bank, but for the time being at\nleast, the Federal Reserve Board has forbidden them to exchange\npersonnel, or increase the business they do with each other.\n \"The tie-up is widely looked on as a lame duck because the\nFed was stricter than Sumitomo expected,\" said one analyst.\n But Komatsu said the move will pay off in time.\n \"U.S. Regulations will change in the near future and if so,\nwe can do various things. We only have to wait two or three\nyears, not until the 21st century,\" Komatsu said.\n Komatsu is also willing to be patient about possible routes\ninto the securities business at home.\n Article 65 of the Securities and Exchange Act, Japan's\nversion of the U.S. Glass-Steagall Act, separates commercial\nfrom investment banking.\n But the walls between the two are crumbling and Komatsu\nsaid he hopes further deregulation will create new\nopportunities.\n \"We need to find new business chances,\" Komatsu said. \"In some\ncases these will be securities related, in some cases trust\nbank related. That's the kind of deregulation we want.\"\n Until such changes occur, Sumitomo will focus on such\ndomestic securities business as profitable government bond\ndealing and strengthening relations with Meiko Securities Co\nLtd, in which it holds a five pct share, Komatsu said.\n He said Sumitomo is cautiously optimistic about entering\nthe securities business here through its Swiss universal bank\nsubsidiary, Banca del Gottardo.\n The Finance Ministry is expected to grant licences to\nsecurities subsidiaries of U.S. Commercial banks soon,\nfollowing a similar decision for subsidiaries of European\nuniversal banks in which the parent holds a less than 50 pct.\n But Komatsu is reluctant to push hard for a similar\ndecision on a Gottardo subsidiary.\n \"We don't want to make waves. We expect this will be allowed\nin two or three years,\" he said.\n Like other city banks, Sumitomo is also pushing to expand\nlending to individuals and small and medium businesses to\nreplace disappearing demand from big business, he added.\n The analysts said Sumitomo will have to devote a lot of\ntime to digesting its most recent initiatives, including the\nmerger with ailing Heiwa Sogo.\n \"It's (Sumitomo) been bold in its strategies,\" said\nKleinwort's Smithson.\n \"After that, it's a question of absorbing and juggling\naround. It will be the next decade before we see if the\nstrategy is right or wrong.\"\n REUTER\n\u0003",
"date": " 8-APR-1987 03:29:34.51",
"topics": [
"acq"
],
"places": [
"japan",
"usa"
],
"id": "14843"
},
{
"title": "SUBROTO SAYS INDONESIA SUPPORTS TIN PACT EXTENSION",
"body": "Mines and Energy Minister Subroto\nconfirmed Indonesian support for an extension of the sixth\nInternational Tin Agreement (ITA), but said a new pact was not\nnecessary.\n Asked by Reuters to clarify his statement on Monday in\nwhich he said the pact should be allowed to lapse, Subroto said\nIndonesia was ready to back extension of the ITA.\n \"We can support extension of the sixth agreement,\" he said.\n\"But a seventh accord we believe to be unnecessary.\"\n The sixth ITA will expire at the end of June unless a\ntwo-thirds majority of members vote for an extension.\n REUTER\n\u0003",
"date": " 8-APR-1987 03:45:20.53",
"topics": [
"tin"
],
"places": [
"indonesia"
],
"id": "14844"
},
{
"title": "SOUTH AFRICA MINES BODY SEES MAY DAY WORK STOPPAGE",
"body": "Negotiations between mining\ncompanies and the National Union of Mineworkers are foundering\nand mines could face a May Day work stoppage, the Chamber of\nMines said.\n It said the union had called off talks on a specific issue,\nthe introduction of a Labour Day on May 1.\n The union refused a request to give advance notification of\nthe names of workers who would be working on May 1 rather than\ntaking the option of a paid holiday, the Chamber said.\n It said mining companies wanted advance notice in order to\nplan their operations.\n \"The union is adamant only employees who wish to work on\nLabour Day should notify management,\" the Chamber said.\n \"This raises the prospect that the mines will once again\nface stay-away action on May 1 and that the employees who do\nnot work will once again forfeit pay.\"\n It said the union accepted all the proposals except giving\nadvance notification for May 1.\n It said miners had been offered a full paid holiday on May\n1 or a premium of six pct of their basic monthly pay for\nworking that day.\n REUTER\n\u0003",
"date": " 8-APR-1987 03:49:29.05",
"places": [
"south-africa"
],
"id": "14845"
},
{
"title": "FINAL TERMS SET ON ATARI CORP CONVERTIBLE EUROBOND",
"body": "The coupon on the 75 mln dlr, 15-year,\nconvertible eurobond for Atari Corp has been set at 5-1/4 pct\ncompared with indicated range of five to 5-1/4 pct, lead\nmanager Paine Webber International said.\n The conversion price was set at 32-5/8 dlrs, representing a\npremium of 20.38 pct over yesterday's Atari share close of 27\ndlrs.\n REUTER\n\u0003",
"date": " 8-APR-1987 03:55:13.05",
"places": [
"uk"
],
"id": "14846"
},
{
"title": "BANGLADESH LIKELY TO SET HIGHER DEVELOPMENT PLAN",
"body": "Bangladesh is expected to draw up a 47\nbillion taka development plan for the 1987/88 fiscal year\nbeginning July 1, Finance Ministry officials said.\n This is a rise of six pct over the current year. They said\n86.5 pct of the funds would come from foreign sources.\n Bangladesh will seek nearly two billion dlrs to be used for\ndevelopment projects and imports in 1987/88 at a donors'\nmeeting in Paris later this month, the officials said.\n REUTER\n\u0003",
"date": " 8-APR-1987 03:56:29.05",
"places": [
"bangladesh"
],
"id": "14847"
},
{
"title": " Bundesbank allocates 6.1 billion marks in 28-day repurchase pact at 3.80 pct\n",
"date": " 8-APR-1987 03:57:09.77",
"id": "14848"
},
{
"title": "BUNDESBANK ALLOCATES 6.1 BILLION MARKS IN TENDER",
"body": "The Bundesbank accepted bids for 6.1\nbillion marks at today's tender for a 28-day securities\nrepurchase pact at a fixed rate of 3.80 pct, a central bank\nspokesman said.\n Banks, which bid for a total 12.2 billion marks liquidity,\nwill be credited with the funds allocated today and must buy\nback securities pledged on May 6.\n Some 14.9 billion marks will drain from the market today as\nan earlier pact expires, so the Bundesbank is effectively\nwithdrawing a net 8.1 billion marks from the market with\ntoday's allocation.\n A Bundesbank spokesman said in answer to enquiries that the\nwithdrawal of funds did not reflect a tightening of credit\npolicy, but was to be seen in the context of plentiful\nliquidity in the banking system.\n Banks held an average 59.3 billion marks at the Bundesbank\nover the first six days of the month, well clear of the likely\nApril minimum reserve requirement of 51 billion marks.\n The Bundesbank spokesman noted that by bidding only 12.2\nbillion marks, below the outgoing 14.9 billion, banks\nthemselves had shown they felt they had plenty of liquidity.\n Dealers said the Bundesbank is keen to prevent too much\nliquidity accruing in the market, as that would blunt the\neffectiveness of the security repurchase agreement, its main\nopen-market instrument for steering market interest rates. Two\nfurther pacts are likely this month over the next two weeks.\n The Bundesbank is currently steering call money between 3.6\nand 3.8 pct, although short-term fluctuations outside that\nrange are possible, dealers said.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:03:27.14",
"topics": [
"money-fx",
"interest"
],
"id": "14849"
},
{
"title": "U.N. OFFERS GRANT FOR STUDY ON BANGLADESH BRIDGE",
"body": "The U.N. Development program (UNDP) will\ngive Bangladesh a 6.79 mln dlr grant to undertake a detailed\nstudy on the building of a bridge over the River Jamuna, the\nofficial BSS news agency said.\n It said an agreement was signed here yesterday.\n Communication Ministry officials said the bridge would be\nto link Dhaka with the northern areas of Bangladesh and was\nexpected to cost about 836 mln dlrs. They said offers of help\nhad been received from Saudi Arabia and the World Bank, but\nthey gave no details.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:11:21.08",
"organisations": [
"un",
"worldbank"
],
"places": [
"bangladesh",
"saudi-arabia"
],
"id": "14850"
},
{
"title": "EIB 300 MLN GUILDER BULLET BOND PRICED AT PAR",
"body": "The issue price of the European\nInvestment Bank's 300 mln guilder 6.25 pct bullet bond due\n1995, announced on April 1, has been set at par, lead manager\nAmro bank said.\n Subscriptions remain open until 1300 gmt tomorrow, April 9.\n Payment is due May 14 and coupon date is May 15.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:16:24.80",
"places": [
"netherlands"
],
"id": "14851"
},
{
"title": "BOND CORP STILL CONSIDERING ATLAS MINING BAIL-OUT",
"body": "Bond Corp Holdings Ltd <BONA.S> and Atlas\nConsolidated Mining and Development Corp <ATLC.MN> are still\nholding talks on a bail-out package for the troubled mining\nfirm, an Atlas statement said.\n Atlas, the Philippines' biggest copper producer, said it\nhad been hit by depressed world copper prices. It reported a\nnet loss of 976.38 mln pesos in the year ending December 1986,\ncompared with a net loss of 1.53 billion in 1985.\n The company said it had been able to cut its losses because\nits scaled-down copper operations in the central island of Cebu\nstarted in the second half of 1986.\n Atlas said negotiations were continuing on the acquisition\nby Bond of the company's existing bank loans and their\nrestructuring into a gold loan.\n A memorandum of understanding signed by the two sides in\nOctober last year said Bond would acquire Atlas' total loans of\n275 mln dlrs, to be repaid by the mining company in gold.\n Atlas said the two sides were also discussing equity\ninfusion into Atlas and the creation of a development fund for\nfurther exploration and development of the company's gold\nproperties in the central province of Masbate.\n Wilson Banks, general manager of <Bond Corp International\nLtd> in Hong Kong, told Reuters the Atlas statement on the\nnegotiations was \"reasonably accurate.\"\n Banks said Bond Corp was seriously considering several\ninvestments in the Philippines but did not give details.\n In its statement, Atlas said development of the pre-World\nWar Two underground mines in Masbate had been accelerated and\nthe ore tonnage had increased, extending the operation's life\nat least until 1993.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:17:14.17",
"topics": [
"acq",
"copper"
],
"places": [
"philippines"
],
"id": "14852"
},
{
"title": "ECONOMIC SPOTLIGHT - EXCESS MONEY HURTS THAI BANKS",
"body": "Thailand's improving economy may have\nhelped its trade and finance position but it has also created\nmajor problems for local banks, Thai and foreign bankers said.\n They said a 900 mln dlr saving from cheaper imported oil\nand 19.7 pct export growth last year contributed to the\ncountry's first current account surplus in 20 years.\n But the bright picture, together with a government program\nto help farmers cope with depressed commodity prices, coincides\nwith sluggish investment by a private sector still feeling the\nlingering effects of the 1984-86 recession.\n Thai banks have had growing surplus funds and difficulties\nfinding borrowers since the third quarter of 1986.\n Kunthon Narkprom, head of the budget and planning division\nof Thai Farmers Bank Ltd, estimated excess liquidity in banks\npeaked last month at 60 billion baht, three times what he\nconsidered normal. Bank of Thailand figures show total deposits\nin 1986 grew 12.7 pct to 627.7 billion baht, while lending rose\nonly 3.4 pct to 548.6 billion.\n The lending/deposit ratio, which measures bank loans as a\npercentage of deposits, fell to 86.6 pct last month, the lowest\nsince the 1970s, after averaging 96.6 pct in 1985.\n Thai banks have cut lending and deposit rates a record six\ntimes since January 1986, during which time the average minimum\nloan rate fell to 11.5 pct from 15.5 and the gross one-year\nfixed deposit rate to 7.25 pct from 11.\n Five banks announced last week they would cut their maximum\nlending rates to small borrowers by one percentage point to 14\npct.\n Kunthon of Thai Farmers estimated banks now have a combined\n80 billion baht unused overdraft line as many small and\nmedium-size companies delay borrowing in anticipation of more\ncuts in interest rates.\n The record liquidity has seriously hurt the profits of\nbanks, which have been forced to invest idle funds in low-yield\ngovernment securities.\n Kunthon said the banks hold four to 10 billion baht in\nshort-term government bonds bought through the Bank of\nThailand's bond repurchase facility, double the normal amount.\n Thailand's 16 local commercial banks registered one of\ntheir worst years in 1986, with overall profits falling over 30\npct after a 14 pct decline in 1985.\n Kunthon said profits should increase 10 pct this year as\nthe banks adjust to the new interest rate structure.\n Olarn Chaipravat, senior executive vice president of Siam\nCommercial Bank Ltd, told reporters last week the liquidity\nproblem stems partly from the fact most loan demands come from\nbusinesses seeking funds for small, labour-intensive projects.\n He said there are few large, capital-intensive projects and\nmany borrowers go offshore to meet their requirements.\n Somboon Chinsavananond, Thai Farmers' fund management\nexecutive, said liquidity has been aggravated by the central\nbank's policy of fixing a stable baht-dollar exchange rate\nwhich permits Thai companies to import dollar-denominated funds\nwith a minimal risk of currency exchange losses.\n He said underlying bearishness towards the U.S. Dollar has\nencouraged foreign borrowers who hope to pay less on loan\nprincipal when their loans mature.\n Thai bankers said central bank governor Kamchorn Sathirakul\nlast month rejected a request to increase a 10 pct withholding\ntax on interest on foreign loans, a measure they said would\nreduce foreign borrowings. The governor replied the bankers\nshould extend more loans to rural areas instead.\n Bankers said some Thai banks have offered credit-worthy\nclients loans at near money market rates of seven to eight pct\nin a bid to compete with foreign funds.\n A market analyst at Siam Commercial Bank said bank lending\nat such rates amount to about 15 pct of all loans extended by\nthe industry.\n A foreign banker, who requested anonymity, said the\n\"segmented market approach\" used by Thai banks for setting\ndifferent lending rates has caused dislocation of funds in the\nfinancial sector, eroded bank profits and prevented banks from\ntaking a more logical move of further cutting interest rates.\n He said the liquidity problem gives the Bank of Thailand a\nperfect opportunity to assert more control on the Thai money\nmarket.\n The Bank of Thailand is taking \"a step in the right\ndirection\" by planning to float three billion baht in bonds to\nmop up part of the surplus, he said, but he added the bank has\nbeen lax in using its bond repurchase window as a tool to\nabsorb or inject liquidity into the market.\n William Wu, head of the Treasury Unit of Chase Manhattan\nBank N.A., Said the money market lacks the instruments to\nabsorb liquidity and avoid sharp interest rate fluctuations.\n He said the liquidity has fuelled the stock market's\nstrongest rally in seven years and Thailand should seize the\nopportunity to develop the corporate bond market.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:21:46.71",
"places": [
"thailand"
],
"id": "14853"
},
{
"title": "CHINA INDUSTRIAL OUTPUT RISES IN FIRST QUARTER",
"body": "China's industrial output rose 14.1 pct\nin the first quarter of 1987 against the same 1986 period, the\nPeople's Daily said.\n Its overseas edition said the growth rate, which compares\nwith a target of seven pct for the whole of 1987, was \"rather\nhigh\" but the base in the first quarter of 1986 was on the low\nside. Industrial output grew 4.4 pct in the first quarter of\n1986.\n It said China's industrial production this year has been\nnormal but product quality and efficiency need further\nimprovement. It gave no further details.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:27:12.70",
"topics": [
"ipi"
],
"places": [
"china"
],
"id": "14854"
},
{
"title": "SAITAMA BANK ISSUES 100 MLN DLR CONVERTIBLE BOND",
"body": "The Saitama Bank Ltd is issuing a 100 mln\ndlr convertible eurobond due March 31, 2002 paying an indicated\ntwo pct and priced at par, the bank's London office said. The\nissue is being lead managed by Saitama Bank (Europe) SA.\n The deal is available in denominations of 5,000 dlrs and\nwill be listed in Luxembourg. Final terms will be set on April\n15.\n The selling concession is 1-1/2 pct while management and\nunderwriting each pay 1/2 pct. The payment date is May 6 and\nthere will be a short first coupon period.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:28:37.20",
"id": "14855"
},
{
"title": "WESTPAC BANKING ISSUES 50 MLN AUSTRALIAN DLR BOND",
"body": "Westpac Banking Corporation is issuing a\n50 mln Australian dlr eurobond due May 6, 1990 paying 14-1/2\npct and priced at 101-1/4 pct, lead manager Deutsche Bank\nCapital Markets said.\n The non-callable bond is available in denominations of\n1,000 and 10,000 Australian dlrs and will be listed in\nLuxembourg. The selling concession is one pct, while management\nand underwriting combined pays 1/2 pct.\n The payment date is May 6.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:29:21.88",
"places": [
"uk"
],
"id": "14856"
},
{
"title": "JAPANESE AUTOMAKERS TURN TO FOUR-WHEEL STEERING",
"body": "Major Japanese automakers are gearing up\nto equip sporty models with four-wheel steering, a feature that\ncould become standard on high-grade cars in the future,\nautomotive industry sources said.\n Two companies are ready to market such cars soon, they\nsaid. Honda Motor Co Ltd will sell its Prelude with four-wheel\nsteering from this Friday, and Mazda Motor Corp officials say a\nmodel with the new steering will be out by mid-year. Mazda aims\nto ship the cars overseas before year-end but the decision will\ndepend on initial consumer reaction.\n Nissan Motor Co Ltd has offered a less sophisticated\nfour-wheel steering system on its Skyline since August 1985.\nToyota Motor Corp has exhibited its developments in the field\nat a recent motor show and Mitsubishi Motors Corp said it will\nuse the system in the near future.\n Though major U.S. And European automakers have also\nresearched and tested the four-wheel system, they say they are\nwaiting to see consumer response to the Japanese cars and for\nfurther improvements in safety and costs.\n Four-wheel steering allows drivers to easily manoeuvre into\nparking spaces and gives more control on sharp turns. \n Mazda officials believe the new steering will improve\nsafety. \"At extremes, four-wheel steering gives a driver more\ncontrol,\" said one official. \"On slippery surfaces or at high\nspeeds, the system reduces unnecessary movement of the vehicle.\"\n While acknowledging the added vehicle stability, a Honda\nengineer said: \"This invention is not intended to improve\nsafety, but is aimed at allowing everyone to drive easily.\"\n Mazda's electronic steering system tells the back wheels to\nturn in the opposite direction from the front wheels at slow\nspeeds but in the same direction at high speeds.\n Honda's system, which is mechanical, is similar but the\ndirection of the rear wheels is determined by the angle of the\nfront wheels. With Nissan's system the rear wheels move only\nparallel to the front.\n Automakers say professional drivers who have tested the\nfour-wheel steering say it greatly improves handling.\n An official with one U.S. Vehicle manufacturer said\nfour-wheel steering is a technical improvement, but it is\nuncertain whether it will translate into higher sales or\nprofits. \"All automakers are interested in something new,\" he\nsaid. \"If it becomes a predominant factor, everyone will want to\nfollow.\"\n The official said four-wheel steering is partly a gimmick\nto sell cars. \"It's a benefit of a secondary nature compared\nwith devices for fuel economy or emission control.\"\n General Motors Corp has developed a four-wheel steering\nsystem, but is unlikely to market it within the next five\nyears, Y. Hojoh, engineer with the Japan branch of General\nMotors Overseas Corp, said. GM must consider the costs to the\nconsumer, he added.\n The industry sources said the additional cost of the system\nin Japan would probably make little difference to the consumer\nas it would be added to already high-priced models.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:30:07.09",
"places": [
"japan"
],
"id": "14857"
},
{
"title": "JAPAN MINISTRY SAYS OPEN FARM TRADE WOULD HIT U.S.",
"body": "Japan's Agriculture Ministry, angered by\nU.S. Demands that Japan open its farm products market, will\ntell U.S. Officials at talks later this month that\nliberalisation would harm existing U.S. Farm exports to Japan,\na senior ministry official said.\n \"Imports from the U.S. Would drop due to active sales drives\nby other suppliers,\" the official, who declined to be named,\nsaid. \"Japan is the largest customer for U.S. Farm products and\nit is not reasonable for the U.S. To demand Japan liberalise\nits farm import market,\" he said.\n Agriculture Minister Mutsuki Kato has said if the U.S.\nInsists Japan open its protected rice market it will also open\nits wheat market, where volume and origin are regulated to\nprotect local farmers.\n Australia and Canada could then increase their wheat\nexports as they are more competitive than the U.S., He said.\nEnd-users would also buy other origins, grain traders said.\n U.S. Agriculture Secretary Richard Lyng, who is due to\nvisit Japan for talks between April 16-27, has said he will ask\nJapan to offer a share of its rice market to U.S. Suppliers and\nremove quotas on U.S. Beef and citrus imports.\n Other countries are already cutting into the U.S. Market\nshare here. Australia, the largest beef supplier to Japan, has\nbeen trying to boost exports prior to the expiry of a four-year\nbeef accord next March 31.\n Imports of U.S. Corn have fallen due to increased sales\nfrom China and South America, while Japanese soybean imports\nfrom Brazil are expected to rise sharply this year, although\nthe U.S. Will remain the largest supplier.\n U.S. Feedgrain sales will also drop if Japan opens up its\nbeef imports, since Japan depends almost entirely on feedgrain\nimports, mainly from the U.S., Japanese officials said.\n An indication of the U.S. Position came last December when\nUnder Secretary of Agriculture Daniel Amstutz said Japan has\nthe potential to provide one of the largest boosts to U.S.\nAgricultural exports, with the beef market alone representing\nsome one billion dlrs in new business.\n The U.S. Has also asked the General Agreement on Tariffs\nand Trade to investigate the legality of Japanese import\ncontrols on 12 other farm products, including fruit juices,\npurees and pulp, tomato juice, ketchup and sauce, peanuts,\nprepared beef products and miscellaneous beans.\n To help calm heated trade relations with the U.S., Japan's\ntop business group Keidanren has urged the government to remove\nresidual import restrictions on agricultural products.\n But Agriculture Minister Kato has ruled out any emotional\nreaction, and the senior ministry official said the farm issue\nshould not become a scapegoat for trade pressure in the\nindustrial sector.\n \"Japan is the largest buyer of U.S. Farm products, and these\nissues should not be discussed on the same table,\" the official\nsaid.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:41:01.47",
"topics": [
"trade",
"rice",
"livestock",
"carcass",
"grain",
"corn",
"oilseed",
"soybean"
],
"places": [
"usa",
"japan",
"brazil",
"china",
"australia"
],
"id": "14858"
},
{
"title": "AMATIL PROPOSES TWO-FOR-FIVE BONUS SHARE ISSUE",
"body": "Amatil Ltd <AMAA.S> said it proposes to\nmake a two-for-five bonus issue out of its revaluation reserve\nto shareholders registered May 26.\n Shareholders will be asked to approve the issue and an\nincrease in authorised capital to 175 mln shares from 125 mln\nat a general meeting on May 1, it said in a statement.\n The new shares will rank for dividends declared after\nOctober 31. Amatil, in which B.A.T. Industries Plc <BTI.L>\nholds a 41 pct stake, said it does not expect to maintain its\nlatest annual dividend rate of 29 cents a share on the enlarged\ncapital.\n REUTER\n\u0003",
"date": " 8-APR-1987 04:45:50.43",
"topics": [
"earn"
],
"places": [
"australia"
],
"id": "14859"
},
{
"title": "BOWATER 1986 PRETAX PROFITS RISE 15.6 MLN STG",
"body": "Shr 27.7p vs 20.7p\n Div 6.0p vs 5.5p making 10.0p vs 9.25p\n Turnover 1.34 billion stg vs 1.29 billion\n Pretax profit 48.0 mln vs 32.4 mln\n Tax 14.4 mln vs 6.9 mln\n Company name is Bowater Industries Plc <BWTR.L>\n Trading profit 63.4 mln vs 45.1 mln\n Trading profit includes -\n Packaging and associated products 23.2 mln vs 14.2 mln\n Merchanting and services 18.4 mln vs 9.6 mln\n Tissue and timber products 9.0 mln vs 5.8 mln\n Interest debit 15.4 mln vs 12.7 mln\n Minority interests 7.0 mln debit vs 6.2 mln debit\n Extraordinary items 15.4 mln credit vs 11.9 mln debit\n REUTER\n\u0003",
"date": " 8-APR-1987 04:52:50.14",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "14860"
},
{
"title": "U.K. MONEY MARKET DEFICIT FORECAST AT 250 MLN STG",
"body": "The Bank of England said it forecast a\nshortage of around 250 mln stg in the money market today.\n Among the main factors affecting liquidity, bills maturing\nin official hands and the take-up of treasury bills will drain\nsome 505 mln stg, while bills for repurchase by the market will\nremove around 194 mln. In addition, a rise in note circulation\nand bankers' balances below target will each drain around 110\nmln stg.\n Partly offsetting these outflows, exchequer transactions\nwill add some 690 mln stg to the system today.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:06:23.11",
"topics": [
"money-fx",
"interest"
],
"id": "14861"
},
{
"title": "SOUTH KOREA MOVES TO SLOW GROWTH OF TRADE SURPLUS",
"body": "South Korea's trade surplus is growing too\nfast and the government has started taking steps to slow it\ndown, Deputy Prime Minister Kim Mahn-je said.\n He told a press conference the government planned to\nincrease investment, speed up the opening of the local market\nto foreign imports and gradually adjust its currency to hold\nthe surplus \"at a proper level.\"\n But he said the government would not allow the won to\nappreciate too much in a short period of time. South Korea has\nbeen under pressure from Washington to revalue the won.\n The U.S. Wants South Korea to cut its trade surplus with\nthe U.S., Which rose to 7.4 billion dlrs in 1986 from 4.3\nbillion dlrs in 1985.\n Kim, who is also economic planning minister, said prospects\nwere bright for the South Korean economy, but the government\nwould try to hold the current account surplus to around five\nbillion dlrs a year for the next five years.\n \"Our government projections of eight pct GNP growth, five\nbillion dlrs of (current account) surplus and 12 pct growth in\nexports all seemed to be reasonable early this year. But now\nthe surplus is growing faster than we expected,\" he said.\n Trade ministry officials said South Korea's exports rose 35\npct to 9.34 billion dlrs in the first three months of this\nyear, while imports rose only 8.5 pct to 8.2 billion dlrs.\n Kim said the swing of South Korea's current account to a\nsurplus of 4.65 billion dlrs in 1986 from an 890 mln dlr\ndeficit in 1985 was very significant. The surplus enabled the\ncountry to reduce its foreign debt last year for the first\ntime.\n South Korea's foreign debt, which fell to 44.5 billion dlrs\nin 1986 from 46.8 billion in 1985, is still among the largest\nin Asia.\n \"This huge amount of our foreign debt has been one of the\nmajor constraints on our development... Last year was a major\nturning point for the Korean economy,\" Kim said.\n Kim said his government plannned to reduce the ratio of\nforeign debt to the country's GNP to about 20 pct in 1991, from\nabout 50 pct in 1986.\n \"The government, however, does not want to accelerate\nreducing the debt by making an excessive trade surplus,\" he\nsaid.\n Kim said a sudden rise in the surplus would cause inflation\nand lead to trade friction with Seoul's major trading partners,\nparticularly the United States.\n \"We need a surplus because we have to reduce our debt, but\nwe are taking measures to hold the size of the surplus at a\nproper level,\" Kim said.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:11:02.77",
"topics": [
"trade",
"bop"
],
"places": [
"south-korea",
"usa"
],
"id": "14862"
},
{
"title": "FINNS AND CANADIANS TO STUDY MTBE PRODUCTION PLANT",
"body": "Finland's national oil company Neste Oy\n<NEOY.HE> said in a statement it had agreed with Canadian firms\nto study the feasibility of building a plant in Edmonton,\nCanada, to produce a replacement for lead in petrol.\n The prospective plant would cost an estimated 270 mln\nCanadian dlrs and would produce methyl tertiary butyl ether\n(MTBE) from raw materials available locally, it said.\n The partners in the study are Neste Oy, Celanese Canada\nInc, Hoechst Celanese Corporation and Trade Mountain Pipe Line\nCompany Ltd, of Vancouver, B.C.\n The Edmonton site was suitable because of the raw materials\navailability, the proximity to pipeline transportation and the\nimportant capital and operating advantages gained by locating\non an existing Celanese Canada site, the statement said.\n The partners would look into the feasibility of a plant\nproducing 500,000 tonnes per annum of MTBE, an octane enhancer\nthat can replace tetra ethyl lead.\n Most of the MTBE would be targeted for the United States\nwhere lead levels in gasoline are being lowered because of\nhealth concerns, the statement added.\n Canadian lead limits are currently 11 times as high as the\nU.S. Limit but lead is scheduled for virtual elimination in\nCanada by 1993, which should create a Canadian demand for MTBE,\nit said.\n Finland's Neste Oy, whose turnover last year was over five\nbillion dlrs, has extensive experience with MTBE. It has a\nmajor investment in an MTBE plant in Saudi Arabia.\n The Edmonton, Alberta plant would be scheduled to go on\nstream in late 1989, the statement said.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:11:12.63",
"topics": [
"gas",
"lead"
],
"places": [
"finland",
"canada"
],
"id": "14863"
},
{
"title": "GERMAN ENGINEERING WAGE-ROUND TALKS BREAK DOWN",
"body": "Talks between\nemployers and unions in the West German engineering industry\nover pay and working hours broke down without result late last\nnight, an official from the IG-Metall union said.\n IG-Metall, Western Europe's largest union, is reviving its\ncampaign for a 35-hour working week and is demanding a five pct\npay increase. Strikes for a 35-hour week in 1984 brought West\nGermany's automobile industry virtually to a standstill.\n The result of the 1984 campaign was a compromise reduction\nin working hours to 38.5 from 40.\n The talks which broke down yesterday were in the key North\nWuerttemberg/North Baden area, which generally sets the trend\nfor the rest of the country.\n IG-Metall official Ernst Eisenmann, speaking last night,\nblamed the failure of the negotiations on the employers. He\nsaid they had been uncompromising on the question of the\nshorter week.\n Hans-Peter Stihl, negotiating for the employers, said any\nplan to reduce working hours gradually to 35 hours was\nunacceptable. \n The employers have not made an official offer on cutting\nthe working week, but sources involved in the negotiations say\nthat they are working on the basis of a possible half-hour\nreduction from next year and a pay increase of 2.7 pct in 1987\nand of 1.5 pct in 1988.\n The Union will propose that the negotiations be officially\ndeclared a failure and then a process of arbitration is likely.\n IG-Metall has said that cutting the working week will\ncreate jobs in West Germany where more than two mln people are\nunemployed. IG-Metall itself has about 2.5 mln members.\n IG-Metall has already been staging a series of \"warning\nstrikes\" to press home demands for the 35-hour week.\n Yesterday, 23,000 engineering workers struck at 90 plants\nfor one to two hours, according to an IG-Metall statement.\n Among the strikers were 4,000 at a Daimler-Benz AG <DAIG.F>\nplant in Bremen, and 3,100 at Ford Motor Co's <F> Ford-Werke AG\nplant in Saarlouis.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:11:20.63",
"places": [
"west-germany"
],
"id": "14864"
},
{
"title": "CRA SOLD FORREST GOLD FOR 76 MLN DLRS - WHIM CREEK",
"body": "<Whim Creek Consolidated NL> said the\nconsortium it is leading will pay 76.55 mln dlrs for the\nacquisition of CRA Ltd's <CRAA.S> <Forrest Gold Pty Ltd> unit,\nreported yesterday.\n CRA and Whim Creek did not disclose the price yesterday.\n Whim Creek will hold 44 pct of the consortium, while\n<Austwhim Resources NL> will hold 27 pct and <Croesus Mining\nNL> 29 pct, it said in a statement.\n As reported, Forrest Gold owns two mines in Western\nAustralia producing a combined 37,000 ounces of gold a year. It\nalso owns an undeveloped gold project.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:17:41.72",
"topics": [
"acq"
],
"places": [
"australia"
],
"id": "14865"
},
{
"title": "MALAYSIA SETS 100 MLN SWISS FRANC NOTES ISSUE",
"body": "Malaysia is launching a 100 mln Swiss\nfranc 5-3/4 pct 10-year notes issue priced at 100.2 pct, lead\nmanager Swiss Bank Corp said.\n Payment date is expected to be April 22. Early redemption\nis not allowed.\n Swiss Bank Corp said this is the first time Malaysia has\ntapped the Swiss capital market since it issued a bond here in\nJuly 1985.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:22:58.00",
"places": [
"switzerland",
"malaysia"
],
"id": "14866"
},
{
"title": "GERMAN INDUSTRIAL EMPLOYMENT SEEN STAGNATING",
"body": "The number of workers employed in\nthe West German industrial sector stagnated in the last quarter\nof 1986 as a 50,000 increase in overall employment benefited\nonly the services branch, the DIW economic institute said.\n A DIW report added the general downturn in the economy\nsince last Autumn had had a negative effect on the willingness\nof firms to take on workers. It referred to a marked downturn\nin the number of workers taken on in the capital goods sector.\n New orders for manufacturing industry goods have mostly\nfallen or stagnated in recent months, but data for February\nfinally showed a reversal of the trend, with a 1.9 pct rise.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:34:49.60",
"topics": [
"jobs"
],
"places": [
"west-germany"
],
"id": "14867"
},
{
"title": "FEDERAL REALTY ISSUES 75 MLN DLR CONVERTIBLE BOND",
"body": "Federal Realty Investment Trust is\nissuing a 75 mln dlr convertible eurobond due April 30, 2002\npaying an indicated coupon of 5-1/4 to 5-1/2 pct and priced at\npar, lead manager Salomon Brothers International said.\n The issue has a put option after seven years which will be\npriced to give the investor a yield in line with current seven\nyear U.S. Treasury bond. Final terms will be fixed on April 9.\n The selling concession is 1-1/2 pct while management and\nunderwriting each pay 1/2 pct. The issue is available in\ndenominations of 1,000 and 10,000 dlrs.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:45:11.17",
"places": [
"uk"
],
"id": "14868"
},
{
"title": "SEOUL STOCK MARKET CONSOLIDATES ON STATE MEASURES",
"body": "The South Korean stock market seems to be\nconsolidating following government measures to cool its rapid\nrise this year, domestic and foreign analysts said.\n The composite index hit a record 405.13 early last week,\nnearly 50 pct up from the New Year when it stood at 264.82, but\nplunged to a 383.48 close on April 3, the day after the\ngovernment intervened.\n Under the measures, industrial firms with bank loans worth\n50 billion won or more must either offer new shares or issue\nconvertible bonds to repay the loans.\n Securities houses will have to sell shares they are holding\nif the volume exceeds 40 pct of their paid-in capital. The\nceiling for investment trust firms was fixed at 50 pct.\n South Korean firms have traditionally preferred obtaining\nlow interest bank loans -- the current rate is 10 pct -- to\nissuing bonds at a higher rate or floating share issues with\nthe attendant dividend pressures and launch expenses.\n The Seoul Stock Exchange, with 355 listed stocks, grew\nexplosively in the first three months of the year, building on\nan already impressive 68.9 pct gain in 1986.\n Analysts now expect the market to pause temporarily and\nthen resume its upward movement, despite the indirect\ngovernment regulation.\n They said the continuous growth of the nation's gross\nnational product (GNP) and trade surplus, improved exports and\ngood performances by industrial firms all fuelled the boom.\n The trade surplus widened to 460 mln dlrs in March from 110\nmln in February, while government economists expect GNP to grow\nnine pct this year.\n Analysts said the deep slump in the real estate market also\nincreased liquidity in the stock market.\n \"Many investors are still confident the market will not lose\nits strength. It seems likely to pause for a while and then\nrebound again,\" said Park Sin-bom, a director of Lucky\nSecurities Co.\n \"There are more positive factors than negative. The market\nis still buoyed by ample liquidity thanks to the economy's\nstrong performance.\"\n The stock market began to recover during Saturday's\nhalf-day session with the index closing at 397.24 in active\ntrading on Monday, but closed lower on Tuesday at 390.24 on\nturnover of 76 billion won.\n \"I would say the market is flat for the time being.... It is\nvery prone to profit-taking after the sharp gains in the first\nthree months and the various government measures,\" a foreign\nanalyst said.\n \"But the market will head up again after a rest because the\nfundamentals are expected to rise and investors will be as\nbullish as ever at the slightest sign of a market recovery.\"\n He added that the newly launched 30 mln dlr Korea Europe\nFund would have an impact on the South Korean stock market,\ndespite its small volume compared with the 5.72 trillion won of\nlisted capital on the Seoul exchange.\n Local dealers recommend blue chips and financial shares as\nthese stand to benefit most from continuing trade friction\nbetween the United States and Japan and the rumoured\nrestructuring of local finance houses.\n Dealers also cite the shares of domestically oriented\nfirms, which are less vulnerable to the effects of the gradual\nappreciation of the won.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:50:11.63",
"places": [
"south-korea"
],
"id": "14869"
},
{
"title": "MALAYSIA SHELVES HUGE HYDROELECTRIC PROJECT",
"body": "Malaysia has decided to postone\ndevelopment of a five billion dlr hydroelectric power project\nin Sarawak, East Malaysia, until the economy improves, deputy\nMinister of Energy, Telecoms and Post Zainal Abidin Zin said.\n He told reporters a shortage of funds forced the government\nto shelve the project, which involved building several dams and\na 20,000 megawatt capacity undersea cable.\n Malaysia originally planned to export electricity generated\nby the project to Singapore, Brunei and Indonesia by 2000 if\nthe project could be started before 1996, Zainal said.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:53:30.02",
"places": [
"malaysia",
"singapore",
"brunei",
"indonesia"
],
"id": "14870"
},
{
"title": "QUEBEC ISSUES 30 BILLION YEN EUROBOND",
"body": "The Province of Quebec is issuing a 30\nbillion yen eurobond due May 7, 1997 paying five pct and priced\nat 102-1/2 pct, lead manager Bank of Tokyo International Ltd\nsaid.\n The non-callable bond is available in denominations of one\nmln yen and will be listed in Luxembourg. The selling\nconcession is 1-1/4 pct, while management and underwriting\ncombined pays 3/4 pct.\n The payment date is May 7.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:54:40.02",
"places": [
"uk"
],
"id": "14871"
},
{
"title": "BOWATER INDUSTRIES PROFIT EXCEED EXPECTATIONS",
"body": "Bowater Industries Plc <BWTR.L> 1986\npretax profits of 48.0 mln stg exceeded market expectations of\naround 40 mln and pushed the company's shares up sharply to a\nhigh of 491p from 468p last night, dealers said.\n The shares later eased back to 481p. Bowater reported a\n32.4 mln stg profit in 1985.\n The company said in a statement accompanying the results\nthat the underlying trend showed improvement and it intended to\nexpand further by developing existing businesses and seeking\nnew opportunities.\n It added that it had appointed David Lyon, currently\nmanaging director of Redland Plc <RDLD.L> as its new chief\nexecutive.\n Analysts noted that Bowater's profits of 18.9 mln stg from\n13.2 mln previously had been given a boost by pension benefits\nof 4.5 mln stg.\n Profit from Australia and the Far East showed the greatest\npercentage rise, jumping 55.0 pct to 15.5 mln from 10.0 mln,\nwhile the profit from U.K. Operations rose 30.7 pct to 24.7\nmln, and Europe, 42.9 pct to 11.0 mln.\n REUTER\n\u0003",
"date": " 8-APR-1987 05:59:42.64",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "14872"
},
{
"title": "CITIBANK NORWAY UNIT LOSES SIX MLN CROWNS IN 1986",
"body": "Citibank A/S <CCI.N>, the Norwegian\nsubsidiary of the U.S.-based bank, said it made a net loss of\njust over six mln crowns in 1986 -- although foreign bankers\nsaid they expect it to show 1987 profits after two lean years.\n Citibank's Oslo treasury head Bjoern Sejerstad told\nReuters, Citibank, one of seven foreign bank subsidiaries\noperating in Norway, lost money because of restructuring for\ninvestment banking away from commercial banking and an economic\nslump in Norway following last year's plunge in oil prices.\n Foreign banks have been allowed to operate susbidiaries in\nNorway since 1985.\n Foreign banking analysts in Oslo said access to Norway's\nsecond-hand securities and equities markets, to be approved\nlater this spring, and lower primary reserve requirements would\nmake profit this year.\n Citibank lost 490,000 crowns in Norway in 1985, but\nSejerstad said a profit was likely this year because of planned\nliberalisation and better economic performance, helped by a\nsteadier oil price of around 18 dlrs a barrel.\n Earlier this year, Chase Manhattan Bank's <CMB.N>\nsubsidiary decided to stop foreign exchange trading after heavy\nlosses and focus instead on fee-based merchant banking.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:02:39.54",
"topics": [
"earn"
],
"places": [
"norway"
],
"id": "14873"
},
{
"title": "JAPANESE ECONOMIC PACKAGE SEEN AS MAJOR CHANGE",
"body": "The economic package unveiled yesterday by\nthe ruling Liberal Democratic Party (LDP) marks the start of a\nmajor shift away from the policies of the past, private\neconomists and government officials said.\n \"A big step forward has been taken,\" said Industrial Bank of\nJapan Ltd senior economist Susumu Taketomi.\n The package, seen as a response to mounting overseas\npressure to boost the sagging Japanese economy, calls for a\nsupplementary budget of more than 5,000 billion yen later this\nyear, plus increased imports.\n Although the measures must still gain the approval of the\nFinance Ministry, economists said the government will find it\ntoo difficult to alter the measures significantly once they\nhave gained domestic and overseas backing.\n \"At last, the LDP and the Ministry of Finance are turning a\ncorner,\" said Sumitomo Bank Ltd's chief economist Masahiko\nKoido.\n For the past five years the government has adhered to a\ntight fiscal policy in its drive to stop issuing deficit\nfinancing bonds in 1990.\n To meet that goal, spending departments are required to\nsubmit annual budgets for current expenditure 10 pct below the\nprevious year and investment five pct below.\n Masayoshi Ito, chairman of the LDP's policy affairs\ncouncil, said yesterday the government must stick to its 1990\nfiscal reform target, but should review the ceiling it places\non public works spending.\n Even some Finance Ministry officials privately acknowledge\nthat policy changes might be needed, including easing the\ngovernment's iron grip on spending.\n Economists said the government could meet its 1990 target\nand also increase spending by using money it got from the sale\nof Nippon Telegraph and Telephone Corp shares and by taking\nadvantage of lower than expected interest rates on its debt.\nOfficially, the Finance Ministry is adhering to its tight\nstance but some signs of change have appeared.\n \"We do not have any intention of abandoning our objective to\nrestore fiscal balance,\" a Finance Ministry spokesman said.\n He said so far the ministry had tried to achieve two goals\nsimultaneously. These were reforming the government's fiscal\nposition and stimulating domestic demand.\n But the Finance Ministry spokesman added, \"In looking at the\ncurrent situation of the economy and the relationship between\nJapan and the United States, we feel we have to place more\nemphasis on stimulating demand.\"\n Economists predict battles within the government over the\ncoming months as the Finance Ministry fights to ensure the\ncracks in its policy do not lead to a complete breakdown of\nfiscal discipline.\n \"The Ministry is afraid that once there is a small hole in\nthe dike, it will lead to a flood,\" Industrial Bank's Taketomi\nsaid.\n But Taketomi said the ministry, provided it has a device in\nplace to check excess spending for political reasons, is likely\nto give the go-ahead to a shift in policy.\n \"This seems to mark the first step toward a more active\nfiscal policy in response to requests from the international\ncommunity,\" he said.\n Sumitomo's Koido said if the government quickly implements\nthe LDP's 5,000 billion yen package, economic growth in the\n1987/88 year ending next March 31 could be around three pct,\nHis current forecast of 2.2 pct growth assumes a supplementary\nbudget of around 1,000 billion yen.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:08:50.43",
"places": [
"japan"
],
"id": "14874"
},
{
"title": "VIEILLE MONTAGNE SAYS 1986 CONDITIONS UNFAVOURABLE",
"body": "A sharp fall in the dollar price of\nzinc and the depreciation of the U.S. Currency created\nunfavourable economic conditions for Vieille Montagne SA\n<VMNB.BR> in 1986.\n It said in a statement that the two factors led to a\nsqueeze on refining margins and an 18.24 pct fall in sales and\nservices income despite an unchanged level of activity.\n Vieille Montagne, which is actively pursuing a\nrestructuring program, reported a 198 mln franc net loss, after\n187 mln francs in provisions for the closure of an electrolysis\nplant, compared with a 250 mln franc net profit in 1985.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:09:57.32",
"topics": [
"earn"
],
"places": [
"belgium"
],
"id": "14875"
},
{
"title": "VIEILLE MONTAGNE REPORTS LOSS, DIVIDEND NIL",
"body": "1986 Year\n Net loss after exceptional charges 198 mln francs vs profit\n 250 mln\n Exceptional provisions for closure of Viviez electrolysis\n Plant 187 mln francs vs exceptional gain 22 mln\n Sales and services 16.51 billion francs vs 20.20 billion\n Proposed net dividend on ordinary shares nil vs 110 francs\n Company's full name is Vieille Montagne SA <VMNB.BR>.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:10:25.20",
"topics": [
"earn"
],
"places": [
"belgium"
],
"id": "14876"
},
{
"title": "EC MAINLY FOR TIN EXTENSION, NO U.K. STAND TAKEN",
"body": "European Community (EC) members of the\nInternational Tin Council, except Britain, have said they are\nprepared to back an extension of the International Tin\nAgreement, an EC spokesman said.\n He said at a meeting of EC states' representatives here\nyesterday, Britain undertook to communicate its own decision to\nits partners today. It said it was not ready yesterday to take\na stand but did not say why.\n He added nine other EC states backed an extension. Spain\nand Portugal, which are not members of the International Tin\nCouncil, raised no objections to a common EC stance in favour.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:12:46.17",
"topics": [
"tin"
],
"organisations": [
"ec"
],
"places": [
"belgium",
"uk",
"spain",
"portugal"
],
"id": "14877"
},
{
"title": "IAE CALLS OFF SUPERFAN ENGINE PROJECT",
"body": "The five-nation <International Aero\nEngine> (IAE) consortium has decided not to go ahead with the\nproposed launch of its Superfan engine, a spokesman for\nconsortium member <Rolls-Royce Plc> said.\n He said a group board meeting had concluded that a launch\nwould have been premature given the risks involved in trying to\nmeet an availability date of Spring, 1992 required by airlines.\n However, he added that the project had not been cancelled\nand could be offered later on.\n The engine was originally proposed for fitting on the\n<Airbus Industrie> A340.\n IAE's members are Rolls, United Technologies Corp's <UTX.N>\nPratt and Whitney, Fiat SpA <FIAT.MI> <Japanese Aero Engines\nCorp> and <MTU> of West Germany.\n Airbus said this week it would switch to the Franco-U.S.\nCFM-56-S3 alternative because of doubts whether the Superfan\nwould be ready on time.\n Rolls, which has been state-owned since 1971, launches its\n\"pathfinder\" prospectus giving preliminary details of its public\nflotation later today.\n Analysts said that the timing of the postponement of\nSuperfan -- an 30,000 pound thrust upgrade of the consortium's\nV2500 engine fitted to the A320 -- was embarrassing but should\nnot be considered a serious blow. If anything, it indicated the\nfinancial prudence of the group, one added.\n The Rolls spokesman added that the decision did not affect\nthe V2500 programme itself. Equally, there was the possibility\nthat the consortium would go ahead with the Superfan later on.\n Rolls RB211 engine was not available for fitting to early\nversions of the Boeing Co <BA.N> 747 but had since captured\nabout 25 pct of the market, he noted.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:15:33.28",
"places": [
"uk"
],
"id": "14878"
},
{
"title": "JAPAN, BRITAIN TO EXCHANGE SECURITIES MARKET INFO",
"body": "Japan and Britain have signed a memorandum\non exchange of securities market information to protect\ninvestors and promote the integrity of securities markets,\nFinance Ministry officials said.\n As interaction between Japanese and U.K. Securities markets\ngrows, it is desirable for both countries to exchange\nsupervisory and investigatory information to assist each other\nin securing compliance with their statutes, rules and\nrequirements, the memorandum said.\n The ministry's securities bureau has a similar arrangement\nwith the U.S. Securities and Exchange Commission.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:16:27.16",
"places": [
"uk",
"japan"
],
"id": "14879"
},
{
"title": "SOUTH KOREA STUDIES RESTRUCTURING FINANCIAL SECTOR",
"body": "Deputy prime minister Kim Mahn-je said\nSouth Korea is studying various measures to reform what he\ndescribed as its underdeveloped bank and financial sector.\n Kim, who is also economic planning minister, told a news\nconference the country's banks and finance houses had not\ndeveloped to keep pace with their industrial counterparts.\n He said two major factors had hampered the development of\nthe financial sector -- high inflation and heavy government\nintervention in bank decision-making.\n He said in the past the government had pressed banks to\ngive soft loans to industry to boost economic growth.\n Kim said the government would now give top priority to\ninterest rate liberalisation. This could be achieved within\nseveral years, though not within one year.\n He said liberalisation was possible because South Korea's\ncurrent account had turned from a deficit to a surplus, which\nhad brought in foreign funds and increased domestic savings.\n The current account recorded a surplus of 4.65 billion dlrs\nin 1986 after a deficit of 890 mln dlrs in 1985.\n But Kim said the government needed to reorganise much of\nthe financial sector.\n Kim said mergers of some financial companies and the\nupgrading of others to merchant banks or full banks were being\nconsidered by the financial development committee of the\nfinance ministry. He did not elaborate but said he expected no\ndrastic measures to be announced this year.\n On liberalisation of the country's stock market, Kim said\ndespite Seoul's determination to open it up, free investments\nthere by foreigners would not be allowed in the near future\nbecause the market was currently \"over-heated.\" He said this was\ndue to ample liquidity created partly by the country's current\naccount surplus.\n Kim said the market was extremely vulnerable to a sudden\ninflux of foreign funds because it was still very small in\nterms of size and numbers of shareholders.\n \"Opening up the capital market must wait until the\nvulnerability to such an influx is removed,\" he said.\n He said only about one mln South Koreans, out of a\npopulation of 40 mln, invest in the Seoul market.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:18:37.01",
"places": [
"south-korea"
],
"id": "14880"
},
{
"title": "JAPAN GIVEN LITTLE HOPE OF AVOIDING U.S. SANCTIONS",
"body": "A top U.S. Official said Japan has little\nchance of convincing the U.S. To drop threatened trade\nsanctions, despite the efforts of a Japanese team that left for\nWashington today.\n Michael Armacost, Under Secretary of State for Political\nAffairs, was asked at a press conference whether Japan's moves\nto boost its domestic economy and open its markets could\npersuade the U.S. Not to impose tariffs on Japanese imports\nsaid, and replied: \"...It is probably too early for the figures\nto demonstrate that the situation has turned around and to\npermit the result you have described.\"\n Armacost said the U.S. Hopes Japan will take steps to lift\nits domestic economy and reduce dependence on exports, remove\nbarriers to imports and settle outstanding trade issues.\n \"There are obvious problems at the moment in the trade area,\nbut we do not wish those problems to divert attention from\nimportant areas of cooperation that continue to exist on\nsecurity and political issues,\" he said.\n \"The question is whether through cooperative actions between\nour governments we can reduce the (trade) imbalance or whether\nCongress takes action to reduce it through protectionist\nlegislation,\" he said.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:23:32.74",
"topics": [
"trade"
],
"places": [
"japan",
"usa"
],
"id": "14881"
},
{
"title": "THAI ZINC EXPORTS FALL IN MARCH",
"body": "Thai zinc ingot exports fell to 882\ntonnes in March from 1,764 in February and 3,008 in March 1986,\nthe Mineral Resources Department said.\n A spokesman for Padaeng Industry Co Ltd, the country's sole\nexporter, attributed the decline to the company's lower stocks,\nwhich averaged 5,000 tonnes in the first quarter against 16,000\ntonnes in late 1985 when it began exporting.\n The department said major buyers included China, Japan, the\nPhilippines, South Korea, Singapore and Taiwan.\n Thailand exported 4,842 tonnes of zinc ingots during the\nfirst quarter, down from 14,937 a year ago.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:25:24.20",
"topics": [
"zinc"
],
"places": [
"thailand",
"china",
"japan",
"philippines",
"japan",
"singapore",
"south-korea",
"taiwan"
],
"id": "14882"
},
{
"title": "DUTCH PROPOSE STRICT INSIDER TRADING LAW",
"body": "The ministries of Finance and Justice\nsaid they have presented parliament with a new law to make\ninsider trading in shares a criminal offence.\n A year ago, the Amsterdam Bourse announced its own rules,\neffective from January 1, 1987, aimed at preventing unfair use\nof inside information in the trading shares listed on the\nexchange, but said back-up legislation was essential.\n The proposed law calls for up to two years imprisonment,\nfines of up to 100,000 guilders for an individual and one\nmillion guilders for a company, and repayment to the state of\nprofits made from insider dealing.\n The proposed fines are higher than any currently in force\nin Dutch law, a joint statement from the two ministries said.\n The draft law sets no limit to the illegal profits to be\nrepaid. The amount would be determined by a court.\n A Finance Ministry spokesman said the time-frame for the\nintroduction of the new legislation depended entirely on its\nreception in Parliament.\n In the meantime the Bourse's Share Trading Association\nmonitors business closely, frequently suspending or even\nrescinding dealings in a stock when price movements suggest\nthat foreknowledge of a pending announcement is being\nexploited.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:27:04.12",
"places": [
"netherlands"
],
"id": "14883"
},
{
"title": "DANSK NATURGAS ISSUES 10 BILLION YEN EUROBOND",
"body": "Dansk Naturgas A/S is issuing a 10\nbillion yen eurobond due May 13, 1993 paying 4-5/8 pct and\npriced at 101-5/8 pct, lead manager IBJ International Ltd said.\n The non-callable bond is available in denominations of one\nmln yen and will be listed in Luxembourg. The selling\nconcession is 1-1/4 pct while management and underwriting\ncombined pays 5/8 pct. The issue is guaranteed by Denmark.\n The payment date is May 13.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:27:57.95",
"places": [
"uk"
],
"id": "14884"
},
{
"title": "EC SUGAR TENDER HARD TO PREDICT - LONDON TRADE",
"body": "The outcome of today's European Community\n(EC) white sugar tender is extremely difficult to predict after\nlast week's substantial award of 102,350 tonnes at the highest\never rebate of 46.864 European currency units (Ecus) per 100\nkilos, traders said.\n Some said they believed the tonnage would probably be\nsmaller, at around 60,000 tonnes, but declined to give a view\non the likely restitution. Last week, the European Commission\naccepted 785,000 tonnes of sugar into intervention by operators\nprotesting about low rebates. This might be a determining\nfactor in today's result, they added.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:30:51.46",
"topics": [
"sugar"
],
"organisations": [
"ec"
],
"places": [
"uk"
],
"id": "14885"
},
{
"title": "NORTH YEMEN CALLS SUGAR BUYING TENDER - TRADE",
"body": "North Yemen has called a buying tender\nfor Saturday for the purchase of 30,000 tonnes of white sugar\nfor arrival in June, traders said.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:39:46.92",
"topics": [
"sugar"
],
"places": [
"yemen-arab-republic"
],
"id": "14886"
},
{
"title": "JAPAN TO HOLD FORMAL FINANCIAL TALKS WITH FRANCE",
"body": "The Japanese Finance Ministry said it\nplans to hold formal financial talks with France on April 17 in\nTokyo, the second such meeting after a first session in May\nlast year. The agenda has not yet been decided.\n The Japanese side will be headed by Toyoo Gyohten, Vice\nFinance Minister for International Affairs, while the French\ndelegation will include Daniel Lebegue, Director General of the\nTreasury.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:40:04.20",
"places": [
"japan",
"france"
],
"id": "14887"
},
{
"title": "ANHEUSER-BUSCH JOINS BID FOR SAN MIGUEL",
"body": "Anheuser-Busch Companies Inc <BUD.N> has\njoined several other foreign bidders for sequestered shares of\nthe Philippines' largest food and beverage maker San Miguel\nCorp <SANM.MN>, the head of a government panel which controls\nthe shares told Reuters.\n Ramon Diaz, Secretary of the Presidential Commission on\nGood Government (PCGG), said Anheuser-Busch had told the\ngovernment it was interested in buying 14 mln \"B\" shares of San\nMiguel. He did not disclose the offered price.\n Diaz said Australian brewer Alan Bond's Bond Corp Holdings\nLtd had offered 150 pesos per share for the \"B\" shares.\n Diaz said New York investment bank Allen and Co Inc had\nearlier said it was interested in buying all 38.1 mln\nsequestered shares. He told Reuters last month Elders IXL Ltd\n<ELXA.S>, the Melbourne-based brewing company, had also bid for\nthe \"B\" shares.\n The Hong Kong Economic Journal last month quoted a\nspokesman of Australian stock broker Jacksons Ltd as saying\nthat <Barwon Farmlands Ltd>, an Australian firm owned 30 pct by\n<Ariadne Australia Ltd>, was planning a Filipino branch in\norder to buy the entire block of 38.1 mln shares.\n Anheuser-Busch last year made a 150 mln dlr bid to buy <San\nMiguel Brewery Ltd>, a Hong Kong listed company which is 69.65\npct owned by <Neptunia Corp Ltd>, a San Miguel Corp subsidiary.\n The talks broke down last June after the two sides said\nthey could not agree on the terms of the sale.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:41:06.32",
"topics": [
"acq"
],
"places": [
"philippines"
],
"id": "14888"
},
{
"title": "CHINA CONSTRUCTION BANK MANDATES 150 MLN DLR LOAN",
"body": "The People's Construction Bank of\nChina is launching its first international borrowing by\nmandating four foreign banks for a 150 mln U.S. Dlr loan, one\nof the lead managers Banque Indosuez said.\n The other three lead managers are Bank of Tokyo, Citicorp\nInternational Ltd and the Industrial Bank of Japan Ltd.\n The 10 year loan has a 4-1/2 year grace period. Interest is\nset at 1/8 percentage point over London interbank offered rate\nfor the first eight years, rising to 1/4 pct for the remaining\ntwo years. There is a 3/16 pct management fee and an\nunspecified, but very small, commitment fee.\n Syndication of the loan is expected to start soon and it\nshould be signed in Shanghai next month.\n The Construction Bank, which is one of four specialist\nbanks in China, focuses on infrastructure and heavy industrial\nprojects.\n The funds raised will partly finance two ethylene factories\nnear Shanghai. Construction of the plants, which are a major\nitem in the current five year plan, will begin soon.\n The plants will cost more than 300 mln dlrs. The remainder\nof the funds will come from export credits and domestic\nborrowings.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:43:56.65",
"places": [
"hong-kong",
"china"
],
"id": "14889"
},
{
"title": "ECONOMIC SPOTLIGHT - AUSTRALIAN MARKETS BOOMING",
"body": "Australian markets are booming as foreign\nfund managers redirect capital away from the United States and\nother traditional markets, analysts said.\n High short-term interest rates, a bullish stock market and\nan increasingly stable currency reflect a massive inflow of\nfresh funds in the last two months, largely from Japanese and\nU.S. Investors, analysts polled by Reuters said.\n Fund managers want quality markets to park their cash in\nand have settled on Australia, Britain and Canada as they\ndiversify from volatile U.S. Dollar instruments, they said.\n A one percentage point fall in key 10-year bonds rates in\nthe past month, record share prices and a 10-month high for the\ncurrency of 0.71 U.S. Dlrs all illustrated the inflow.\n Official figures on the latest inflow of investment capital\nare not available, but brokers said they received almost daily\ninquiries from Japan and the United States.\n \"These people have got trillions of dollars sloshing about\nand they don't know what to do with it. Some of that is ending\nup here with the attraction of high interest rates and\nreasonable currency stability,\" National Australia Bank Ltd\neconomist Brian Hamley said.\n \"There is a 'flight to quality',\" Hamley said. \"Australia may\nnot be in the best (economic) position, but there aren't too\nmany other countries where you'd want to put your money.\"\n The stronger Australian dollar was also attracting\ninvestors taking advantage of an appreciating currency against\nthe volatility of the U.S. Unit, analysts said.\n \"We're looking a more favoured market than perhaps the U.S.\nWhere some people would be concerned about the value of the\nU.S. Dollar,\" Lloyds Bank NZA Ltd chief economist Will Buttrose\nsaid. \"Why not put the money in Australia where entry is cheap\nand the currency looks stable?\"\n But turning that capital into more permanent productive\ninvestment depends on government economic policy, he said.\n \"It will only disappear if people lose confidence in the\ndirection in the economy,\" Buttrose said, adding that offshore\ninvestors would carefully watch the government's promised tough\neconomic statement on May 14.\n While happy to invest in bonds and other vehicles yielding\ninterest unobtainable elsewhere, fund managers could just as\neasily reverse the flow -- particularly the Japanese, who were\nbadly hurt in the past by rapid falls in the Australian dollar\nand hefty jumps in bond rates, analysts said.\n \"It will remain very edgy money. If something was not to be\ndelivered, if the statement wasn't considered tough enough, one\nmight see a substantial outflow,\" Buttrose said.\n Offshore investors are eager to see Australia take tough\neconomic decisions to curb its 100 billion dlr foreign debt and\nstubborn current account deficit, analysts said.\n \"They are giving us the benefit of the doubt and I think\nthey would like to leave the money here,\" Buttrose said.\n Reserve Bank policy has also reflected the increased\ninterest in investment in Australia and the need to shield\nJapanese investors from rapid currency fluctuations.\n Reserve Governor Bob Johnston last week acknowledged an\nelement of targeting the rate against the yen in currency\npolicy when he said authorities could not take their \"eyes off\nthe yen\" because of the crucial role of Japanese investors.\n Analysts said they believed the Reserve Bank had worked\nsuccessfully in recent months to keep the Australian dollar\nwithin the range of 100 to 103 yen.\n Apart from its recovery against a weak U.S. Dollar, the\nAustralian dollar has also risen almost three pct on a\ntrade-weighted basis in the last three weeks.\n Offshore buying has also played a role in the booming\nAustralian share market. It has followed Wall Street and other\nmarkets, but is also setting its own trend in response to the\nweight of both domestic and offshore funds pouring into\nequities, particularly in the gold sector.\n The key all ordinaries index rose to a record 1,758.3\ntoday, nearly 20 pct above its level at the end of 1986, while\nthe gold index has nearly doubled to a record 3,081.0 in the\nsame period.\n The property sector is also sought after, with Japanese\ncompanies that have invested heavily in the United States in\nrecent years turning their attention to undervalued real\nestate, particularly in the tourism field.\n Analysts pointed to the recent sale of Sydney's five-star\nRegent Hotel to Japanese interests for more than 145 mln dlrs\nas indicative of the type of property being sought.\n \"They think they find good value real estate here which,\nwith long term and fixed capital investment, is the kind of\ninvestment Australia needs,\" Buttrose added.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:44:11.87",
"topics": [
"interest",
"money-fx"
],
"places": [
"australia",
"uk",
"canada",
"usa",
"japan"
],
"id": "14890"
},
{
"title": "ECONOMIC SPOTLIGHT - KUWAITI ECONOMY",
"body": "Kuwait's oil-reliant and debt-ridden\neconomy has started to pull out of a nosedive but oil prices\nwill determine the pace of recovery, bankers and economists\nsay.\n Crucial will be the ability of the 13-member OPEC to hold\noil prices around a new benchmark of 18 dlrs a barrel in the\nnorthern hemisphere summer when demand usually slackens.\n Bankers estimate the economy, measured in terms of gross\ndomestic product (gdp), shrank 19 pct in real terms last year\nafter contracting 8.1 pct the year before.\n This was after taking into account inflation in consumer\nprices of 1.5 pct in 1985, slowing to 1.0 pct in 1986.\n Factors depressing economic activity include the\n6-1/2-year-old Iran-Iraq war on Kuwait's doorstep, which\nthreatens the emirate's vital oil export lifeline through the\nGulf and has sapped business confidence.\n But sentiment received a much-needed boost in September\nwhen, after a series of piecemeal steps to combat a debt crisis\ncaused by the 1982 crash of local stock market, a comprehensive\nnew debt settlement program was introduced.\n The share crash, result of a speculative spree in forward\ntrading, left 95 billion dlrs of post-dated cheques in default.\n The cheques were also used as collateral for consumer\nspending, thus generating an informal credit system.\n Much of the debt has been watered down but big sums are\nstill owed by individuals and companies.\n There was some 4.4 billion dinars (about 15.7 billion dlrs)\nin outstanding bank credit at the end of 1986, of which\none-quarter to one-third was estimated by bankers to rank as\nbad or doubtful debt. But the government has repeatedly said it\nwill not allow any banks to go under.\n The new debt settlement scheme entails a rescheduling of\nproblem credit over 10 to 15 years, depending on whether\ndebtors have regular cash flows or not.\n Banks' shareholders and depositors will have their rights\nguaranteed by the government -- an edict of vital significance\nin a country of only 1.7 mln people where the financial sector\nis the biggest after oil.\n Kuwait is better placed than any other OPEC country to ride\nout the oil glut, bankers and economists say.\n Kuwait has an OPEC quota of 948,000 barrels per day (bpd)\ncompared with production capacity of 4.0 mln bpd mentioned last\nyear by Oil Minister Sheikh Ali al-Khalifa al-Sabah.\n But strategic diversification into downstream operations in\nEurope several years ago and a hefty refining investment at\nhome gives it guaranteed markets abroad and enables it to sell\nover one-half of its output as high-grade refined oil products.\n Oil industry sources say Kuwait is able to get an average\n2.00 dlrs a barrel more by selling oil in the form of processed\nproduct such as gas oil, kerosene and naphtha, rather than as\ncrude.\n Bankers say the rebound in oil prices is the major reason\nfor cautious optimism. Other reasons are low domestic\ninflation, a bottoming out of the fall in imports in recent\nyears and signs government spending on productive sectors will\nremain steady.\n External accounts are in good shape, with an estimated 1.8\nbillion dinar current account surplus in 1986, 16 pct below\nthat for 1985, but still an achievement in the recession-hit\nGulf.\n Kuwait's petrodollar reserves in mid-1986 were put\nofficially at over 80 billion dlrs, earning investment income\nof the equivalent of about 3.65 billion dlrs a year.\n But for the first time since the end of the oil boom, these\nreserves may not be enough to prevent a \"real\" budget deficit for\nthe 1986/87 fiscal year ending June 30, bankers say.\n In a budget portrayed by bankers as mildly contractionary,\nrevenues for 1986/87 were cut 38.6 pct and spending 11 pct,\ndoubling the nominal deficit to 1.33 billion dinars.\n This left out income from state reserves, usually excluded\nin official budget accounting, which are forecast by bankers at\nup to 1.0 billion dinars in 1986/87, resulting in some\nshortfall.\n Bankers say it is too early to venture a forecast for\neconomic growth this year or next.\n \"It depends on oil prices,\" one said. \"This summer is\nimportant.\"\n Cabinet Affairs Minister Rashid al-Rashid said last Sunday\nthe cabinet has ratified recommendations to rationalise state\nspending in favour of productive sectors and reactivate the\neconomy.\n He gave no details but bankers say these are expected to be\nspelled out in the 1987/88 budget, possibly in June.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:44:25.79",
"topics": [
"gnp",
"cpi"
],
"places": [
"kuwait"
],
"id": "14891"
},
{
"title": "MALAYSIA MAY NOT MEET 1987 OIL PALM TARGET",
"body": "Malaysia is unlikely to meet its\ntargeted output of five mln tonnes of oil palm in calendar\n1987, oil palm growers told Reuters.\n Output in 1987 is expected to reach around 4.5 mln tonnes,\nunchanged from 1986, because of drought, low use of fertiliser\nand overstressed palms, they said.\n The growers were asked for their reaction to an Oil World\nnewsletter report that Malaysia's oil palm output is likely to\ndrop sharply this year.\n Palm oil now sells at around 700 ringgit a tonne, or about\n115 ringgit less than soybean oil, but Malaysia must sell more\npalm oil to prevent a stock buildup that could damage the\nindustry, a leading grower told Reuters.\n The country's palm oil stocks now total some 500,000 tonnes\nagainst about 800,000 last March, the growers said.\n The growers expect palm oil prices to ease later this year\ndue to pressure from South American and U.S. Soybean output.\n The current South American oilseed harvest, mainly soybean,\nis likely to be around 25.7 mln tonnes against the previous\n21.7 mln tonne crop, they said.\n In addition, new U.S. Soybean plantings are also expected\nto enter the market around November when Malaysian palm oil\noutput peaks.\n They said new planting of palms is also likely to slow,\nwith some 50,000 hectares expected to be planted with new trees\nagainst 100,000 in 1986, although the effects of this reduction\nwill not be felt for about another three years.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:50:05.68",
"topics": [
"veg-oil",
"palm-oil",
"soy-oil",
"oilseed",
"soybean"
],
"places": [
"malaysia"
],
"id": "14892"
},
{
"title": "ELDERS PLANS TO FLOAT OFF COURAGE PUBS",
"body": "Elders IXL Ltd <ELXA.S> plans to float\noff the around 5,000 public houses belonging to its U.K.\nSubsidiary Courage Ltd to raise about one billion stg, Elders\nstrategy executive director Stuart Kelso said.\n The scheme, subject of speculation in a Scottish newspaper\nyesterday, was fairly well advanced, but not certain to go\nahead. \"There could be road blocks,\" he added.\n The earliest flotation date would be June, though the sale\nwill probably be later. Elders would retain a one-third\ninterest in the property interests under the current plan.\n No immediate use has been earmarked for the funds raised.\n Kelso said float plans currently include an offering of\ndebentures to institutional investors and issues of ordinary\nshares and convertible stock for sale to the public.\n Elders bought Courage from Hanson Trust Plc <HNSN.L> last\nyear for 1.4 mln stg. The deal followed Elders' unsuccessful\nefforts to expand into the U.K. Drinks industry by acquiring\nAllied-Lyons Plc <ALLD.L>.\n Hanson acquired Courage when it took over Imperial Group\nPlc early last year. The Elders plan to raise funds from\nCourage is a variant of the its earlier scheme to sell off 50\npct stakes in the Allied-Lyons pubs to their publicans, market\nsources added.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:52:12.26",
"places": [
"uk"
],
"id": "14893"
},
{
"title": "FREEPORT TO START SULPHUR MINE IN PHILIPPINES",
"body": "Freeport McMoran Inc <FTX.N>, a New York\nlisted New Orleans-based natural resource, oil and gas company,\nis planning to build and run a surface sulphur mine in the\ncentral Philippines, a company statement said.\n It said Freeport officials were in the Philippines to\ndiscuss contractual arrangements with joint venture partner\n<International Consultex (Philippines) Inc>.\n The statement quoted Robert Foster, president of Freeport\nSulphur Co, as saying the company was optimistic about the\nproposed mine at Pamplona in Negros Oriental province, as well\nas the country's investment climate.\n \"The sulphur project will involve initial capital\nexpenditures of between 50 and 100 mln dlrs depending upon the\nprocessing technology and the capacity of the project,\" Foster\nsaid. \"We anticipate that the project may employ as many as\n1,000 workers in Negros Oriental.\"\n Freeport-McMoran's senior vice-president Rene Latiolais\nsaid the company was also interested in gold and other precious\nmetals and geo-thermal energy development in the Philippines.\n The statement said Freeport, which anticipates 1987 sales\nof 1.5 billion dlrs, is a major producer of sulphur, phosphate\nand nitrogen fertilisers, uranium oxide and geo-thermal energy.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:53:41.27",
"places": [
"philippines",
"usa"
],
"id": "14894"
},
{
"title": "BANK OF JAPAN HAS NO COMMENT ON YEN BOND REPORT",
"body": "A Bank of Japan spokesman declined to\ncomment on a press report that the central bank had decided to\nconduct closer scrutiny of the operations of financial\ninstitutions in the bond market.\n The JIJI Press news agency had quoted Bank of Japan sources\nas telling Japanese reporters the bank was deeply concerned\nover potential risk in yen bond trading because the market had\nrisen too fast.\n However, JIJI quoted the sources as saying, the central\nbank would not take such actions as guiding interest rates\nhigher.\n JIJI quoted the sources as saying that current bond market\nyields are similar to short-term interest rates due to\nexcessive speculative operations.\n This was attributable to heavy redemptions of government\nbonds and unclear prospects for the dollar, which has sent many\nforeign bond market participants to the domestic market, the\nsources were quoted as saying.\n REUTER\n\u0003",
"date": " 8-APR-1987 06:54:25.93",
"places": [
"japan"
],
"id": "14895"
},
{
"title": "MAFINA ISSUES 200 MLN SFR BOND WITH WARRANTS",
"body": "Mafina BV of Voorburg, a subsidiary of\nPetrofina SA <PETB.BR>, is issuing a minimum 200 mln franc\nseven year bond with warrants, paying two pct, lead manager\nCredit Suisse said.\n The issue is guaranteed by the Belgian parent.\n The warrant exercise period is from May 1, 1987 until May\n20, 1991. Each 5,000 franc note carries nine warrannts, each of\nwhich entitles the holder to buy one share in the company at\n10,800 Belgian francs each.\n Payment is due April 30.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:01:24.78",
"places": [
"switzerland"
],
"id": "14896"
},
{
"title": "HOKURIKU ELECTRIC ISSUES 35 MLN DLR WARRANT BOND",
"body": "Hokuriku Electric Industry is issuing a\n35 mln dlr equity warrant bond due May 7, 1992 paying an\nindicated coupon of 2-1/8 pct and priced at par, lead manager\nNomura International Ltd said.\n The issue is guaranteed by Hokuriku Bank Ltd. The selling\nconcession is 1-1/2 pct while management and underwriting\ncombined pays 3/4 pct. Final terms are due April 16.\n The payment date is May 7 and the issue is available in\ndenominations of 5,000 dlrs. Listing will be in Luxembourg.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:02:06.47",
"places": [
"uk"
],
"id": "14897"
},
{
"title": "SAITAMA BANK ISSUES 100 MLN SFR CONVERTIBLE",
"body": "Saitama Bank Ltd is issuing 100 mln Swiss\nfrancs of convertible notes due September 30, 1992, paying an\nindicated 1-1/4 pct, lead manager Credit Suisse said.\n Terms will be set on April 15 with payment due May 6.\n The conversion period is from May 20, 1987 until September\n18, 1992.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:03:10.79",
"places": [
"switzerland"
],
"id": "14898"
},
{
"title": "JARDINE MATHESON SAID IT SETS TWO-FOR-FIVE BONUS ISSUE REPLACING \"B\" SHARES\n",
"date": " 8-APR-1987 07:03:13.29",
"topics": [
"earn"
],
"id": "14899"
},
{
"title": "MONIER SAYS BRITAIN'S REDLAND MAY BID FOR IT",
"body": "Diversified building materials group\nMonier Ltd <MNRA.S> said talks are taking place which may lead\nto Britain's Redland Plc <RDLD.L> making an offer for the\nMonier shares it does not already hold, chairman Bill Locke\nsaid.\n Redland already holds about 49 pct of Monier's 156.28 mln\nissued shares, he said in a brief notice to the Australian\nStock Exchange.\n Locke said shareholders would be advised as soon as the\ndiscussions progressed and recommended that they keep their\nshares.\n Monier shares were trading at a 1987 high of 3.10 dlrs\ntoday, up from the previous peak of 2.80 at yesterday's close,\nand well above the 1987 low of 2.18 dlrs.\n Monier is the largest concrete roof tile manufacturer in\nAustralia, the U.S. And New Zealand and the world's largest\nmarketer of fly ash, according to its annual report for 1985/86\nended June 30.\n It recently reported first-half 1986/87 net fell to 15.02\nmln dlrs from 17.09 mln a year earlier due to the Australian\nhousing downturn, although foreign earnings rose.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:05:55.21",
"topics": [
"acq"
],
"places": [
"australia",
"uk"
],
"id": "14900"
},
{
"title": "FEDERAL REALTY ISSUES 75 MLN DLR CONVERTIBLE BOND",
"body": "Federal Realty Investment Trust is\nissuing a 75 mln dlr convertible eurobond due April 30, 2002\npaying an indicated coupon of 5-1/4 to 5-1/2 pct and priced at\npar, lead manager Salomon Brothers International said.\n The issue has a put option after seven years which will be\npriced to give the investor a yield in line with current seven\nyear U.S. Treasury bond. Final terms will be fixed on April 9.\n The selling concession is 1-1/2 pct while management and\nunderwriting each pay 1/2 pct. The issue is available in\ndenominations of 1,000 and 10,000 dlrs.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:06:35.27",
"places": [
"uk"
],
"id": "14901"
},
{
"title": "QUEBEC ISSUES 30 BILLION YEN EUROBOND",
"body": "The Province of Quebec is issuing a 30\nbillion yen eurobond due May 7, 1997 paying five pct and priced\nat 102-1/2 pct, lead manager Bank of Tokyo International Ltd\nsaid.\n The non-callable bond is available in denominations of one\nmln yen and will be listed in Luxembourg. The selling\nconcession is 1-1/4 pct, while management and underwriting\ncombined pays 3/4 pct.\n The payment date is May 7.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:06:42.81",
"places": [
"uk"
],
"id": "14902"
},
{
"title": "ISUZU PLANS NO INTERIM DIVIDEND",
"body": "Isuzu Motor Ltd <ISUM.T> will pay no\ndividend for the first half year ending April 30, 1987, as the\ncompany is expected to mark a 12 billion yen parent company\ncurrent loss in the first half due to slow exports caused by\nthe yen's appreciation, a company spokesman said.\n The company has paid no dividend since the year ended\nOctober 31, 1983, when it paid five yen.\n It had a 4.44 billion yen current profit in the first half\nof 1985/86.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:06:51.04",
"topics": [
"earn"
],
"places": [
"japan"
],
"id": "14903"
},
{
"title": "JAPANESE OFFICIAL TAKES DATA TO MICROCHIP TALKS",
"body": "Ministry of International Trade and\nIndustry (MITI) Vice Minister Makoto Kuroda leaves for\nWashington today with data he hopes will refute U.S. Charges\nJapan has violated a pact on microchip trade.\n A three-man Japanese trade team is already in Washington\nlaying the groundwork for talks between Kuroda and Deputy U.S.\nTrade Representative Michael Smith aimed at persuading the U.S.\nNot to impose tariffs on certain Japanese products.\n But Kuroda said he is taking no new proposals. \"I have\nnothing in my briefcase except an explanation of the current\nsituation,\" Kuroda told the daily newspaper Asahi Shimbun.\n Kuroda said the U.S. Decision was based on incorrect data\nand an exaggerated sense of MITI's power to control market\nforces. \"The U.S. Has excessive expectations. To stabilise\nsupply-demand relations which have been disrupted by excess\ninventories since 1985 will take some time,\" he said.\n Kuroda also laid part of the blame for low U.S. Chip sales\nin Japan on a lack of effort by American firms here.\n He said if he fails in talks tomorrow and Friday to\nforestall sanctions, he will seek further talks with U.S. Trade\nRepresentative Clayton Yeutter. U.S. Officials said this week's\ntalks are unlikely to delay imposition of tariffs.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:07:47.39",
"topics": [
"trade"
],
"places": [
"usa",
"japan"
],
"id": "14904"
},
{
"title": "FRENCH GOVERNMENT WINS CONFIDENCE VOTE",
"body": "The French government won, as expected, a\nvote of parliamentary confidence sought by Prime Minister\nJacques Chirac on his general policies.\n Votes from Chirac's Gaullist RPR party and its junior\npartner in the ruling coalition, the centre-right UDF, gave\nChirac's cabinet a slim majority in the National Assembly.\n A total of 294 deputies in the 577-member assembly voted to\nsupport Chirac, with 282 voting against. One member was absent.\n The Socialists, Communists and the extreme-right National\nFront voted against the prime minister's call.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:08:52.05",
"places": [
"france"
],
"id": "14905"
},
{
"title": "NORWAY TO TIGHTEN RULES FOR REGISTERING LOANS",
"body": "Norway will from June require finance\ninstitutions and insurance companies to report lending volume\nto the central bank once a month rather than quarterly in a bid\nto tighten domestic lending, Finance Ministry officials said.\n Norwegian Bank Association President Trond Reinertsen told\nReuters the new rule would make it more difficult for banks to\ntransfer funds to financial and insurance companies for\nlending.\n Banks have in the past used the two month lapse in loan\nregistration to transfer money for lending to finance and\ninsurance groups to avoid penalty reserve requirements for\nlending in excess of government set ceilings.\n The new rule brings loan reporting requirements for\ninsurance and finance companies in line with those already\napplied to commercial banks, Ministry officials said.\n Borrowers have increasingly sought loans from finance and\ninsurance companies after the central bank last year clamped\ndown on what it called excessive bank lending.\n Bank lending dropped by five billion crowns in January from\n260 billion crowns the previous month in response to the\nstricter penalty reserve requirements, Oslo bankers said.\n They said recent central bank cuts in the overnight rate it\ncharges banks might offset new pressure on interest rates.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:10:38.80",
"places": [
"norway"
],
"id": "14906"
},
{
"title": "BELL GROUP CONFIRMS STANDARD CHARTERED STAKE",
"body": "The Bell Group Ltd <BLLA.S> said it now\nholds 14.9 pct of the issued capital of Standard Chartered Plc\n<STCH.L> after acquiring further shares.\n The one-sentence statement from Bell's headquarters\nconfirmed what its brokers Warburg Securities told Reuters in\nLondon yesterday.\n Bell previously held 10 pct of Standard.\n Bell chairman Robert Holmes a Court, who is also a director\nof Standard, was not available for comment on his company's\nintentions in boosting its holding and other company officials\ncontacted here by Reuters declined to comment.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:10:48.46",
"topics": [
"acq"
],
"places": [
"australia"
],
"id": "14907"
},
{
"title": "S. AFRICA MINES BODY SEES MAY DAY WORK STOPPAGE",
"body": "Negotiations between mining\ncompanies and the National Union of Mineworkers are foundering\nand mines could face a May Day work stoppage, the Chamber of\nMines said.\n It said the union had called off talks on a specific issue,\nthe introduction of a Labour Day on May 1.\n The union refused a request to give advance notification of\nthe names of workers who would be working on May 1 rather than\ntaking the option of a paid holiday, the Chamber said.\n It said mining companies wanted advance notice in order to\nplan their operations.\n \"The union is adamant only employees who wish to work on\nLabour Day should notify management,\" the Chamber said.\n \"This raises the prospect that the mines will once again\nface stay-away action on May 1 and that the employees who do\nnot work will once again forfeit pay.\"\n It said the union accepted all the proposals except giving\nadvance notification for May 1.\n It said miners had been offered a full paid holiday on May\n1 or a premium of six pct of their basic monthly pay for\nworking that day.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:10:59.51",
"places": [
"south-africa"
],
"id": "14908"
},
{
"title": "NIPPON STEEL DENIES CHINA SEEKING JAPANESE PLANTS",
"body": "Nippon Steel Corp <NSTC.T> denied local\nnewspaper reports that China has been seeking to buy steel\nplants from Japanese firms which plan to suspend output under\nthe recently announced rationalisation program.\n The Mainichi Shimbun quoted Nippon Steel as saying that\nChina's State Planning Commission and some Chinese firms have\nasked Japanese makers to sell them steel works and rolling\nmills to expand steelmaking cheaply. It named no sources.\n A Nippon Steel spokesman told Reuters that China has made\nno such official request, and the company was not considering\nsuch sales at the moment.\n But Mainichi quoted Nippon Steel officials as saying if\nprices are reasonable, they would export their used mills to\nChina.\n The paper said China's crude steel output totalled 52 mln\ntonnes in calendar 1986 and that it plans to increase to 80 mln\nby 1996.\n Japan's steel industry rationalisation plan is aimed at\ncutting production capacity sharply over the next few years.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:11:17.34",
"topics": [
"acq"
],
"places": [
"japan",
"china"
],
"id": "14909"
},
{
"title": "FRENCH FEBRUARY CAR OUTPUT UP 27.2 PCT",
"body": "February car production totalled 269,745\nthis year, up 27.2 pct on a year-on-year basis, the Automobile\nConstructors' Association (CSCA) said.\n This brought total car output in the first two months of\nthe year to 504,266, a 14.1 pct year-on-year rise, it said.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:12:26.87",
"places": [
"france"
],
"id": "14910"
},
{
"title": "JARDINE MATHESON REPLACES \"B\" SHARE BY BONUS ISSUE",
"body": "Jardine Matheson Holdings Ltd\n<JARD.HK> said it will withdraw the previously announced\nfour-for-one bonus issue of \"B\" shares and replace it by a\ntwo-for-five bonus issue of ordinary shares.\n A statement said the firm expects to pay total dividends\nfor 1987 of not less than 40 cents a share on the expanded\ncapital.\n Jardine Matheson decided to withdraw its issue because of a\njoint announcement earlier today by Ronald Li, chairman of the\nStock Exchange of Hong Kong, and Securities Commissioner Ray\nAstin, that the listings of new \"B\" shares would be barred.\n The official announcement said this will include the\nproposal by Jardine Matheson.\n But the Jardine statement quoted chairman Simon Keswick as\nsaying: \"We continue to believe that the issuing of \"B\" shares\nwould benefit shareholders, and regret that they will not be\ngiven the opportunity to vote on the matter at this stage.\"\n Keswick said the \"B\" share issue will benefit Jardine\nMatheson's shareholders by giving the firm flexibility to issue\nordinary shares for expansion in future without diluting\nexisting shareholders' voting rights.\n However, he added: \"We certainly welcome (the Secretary for\nMonetary Affairs) David Nendick's referral of this very\nimportant matter to the Standing Committee on Company Law\nReform and are hopeful that the process will lead to the\ndevelopment of general principles which can be embraced by all\nconstituents of the Hong Kong market.\"\n REUTER\n\u0003",
"date": " 8-APR-1987 07:13:30.28",
"topics": [
"earn"
],
"places": [
"hong-kong"
],
"id": "14911"
},
{
"title": "JAPAN GIVEN LITTLE HOPE OF AVOIDING U.S. SANCTIONS",
"body": "A top U.S. Official said Japan has little\nchance of persuading the U.S. to drop threatened trade\nsanctions, despite the efforts of a Japanese team that left for\nWashington today.\n Michael Armacost, Under Secretary of State for Political\nAffairs, was asked at a press conference whether Japan's moves\nto boost its domestic economy and open its markets could\npersuade the U.S. Not to impose tariffs on Japanese imports\nsaid, and replied: \"...It is probably too early for the figures\nto demonstrate that the situation has turned around and to\npermit the result you have described.\"\n Armacost said the U.S. Hopes Japan will take steps to lift\nits domestic economy and reduce dependence on exports, remove\nbarriers to imports and settle outstanding trade issues.\n \"There are obvious problems at the moment in the trade area,\nbut we do not wish those problems to divert attention from\nimportant areas of cooperation that continue to exist on\nsecurity and political issues,\" he said.\n \"The question is whether through cooperative actions between\nour governments we can reduce the (trade) imbalance or whether\nCongress takes action to reduce it through protectionist\nlegislation,\" he said.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:16:32.29",
"topics": [
"trade"
],
"places": [
"usa",
"japan"
],
"id": "14912"
},
{
"title": "BANK OF JAPAN INTERVENES SOON AFTER TOKYO OPENING",
"body": "The Bank of Japan bought a small amount of\ndollars shortly after the opening at around 145.30 yen, dealers\nsaid.\n The central bank intervened as a medium-sized trading house\nsold dollars, putting pressure on the U.S. Currency, they said.\n The dollar was also supported by a major electrical\nconsumer goods company, which was a speculative dollar buyer at\naround 145.25 yen, they added.\n The dollar opened at 145.33 yen against 145.60/70 in New\nYork and 145.25 at the close here yesterday.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:18:02.86",
"topics": [
"money-fx",
"dlr",
"yen"
],
"places": [
"japan"
],
"id": "14913"
},
{
"title": "MOSCOW INDIGNANT AT REAGAN STATEMENT",
"body": "Soviet Deputy Foreign Minister Vladimir\nPetrovsky said today Moscow felt \"indignation and regret\" at what\nhe called \"truly hostile statements about the Soviet Union\" made\nby President Reagan.\n Reagan told reporters yesterday he was ordering a\nhigh-level review of security at the U.S. Embassy in Moscow\nfollowing a sex-and-spy scandal there and said Soviet diplomats\nwould not be allowed to use a new embassy in Washington until\nthe U.S. Moscow mission was made secure.\n Petrovsky told reporters it was not accidental that\nWashington had chosen this time, only a week before a scheduled\nMoscow visit by U.S. Secretary of State George Shultz, to make\naccusations against the Soviet Union.\n Objective conditions existed for improving Soviet-U.S.\nRelations. \"But it seems that someone in Washington fails to\nappreciate this process and tries to poison the atmosphere,\" he\nsaid.\n Reuter\n\u0003",
"date": " 8-APR-1987 07:18:50.84",
"places": [
"ussr",
"usa"
],
"id": "14914"
},
{
"title": "BATTLES FLARE NEAR SOUTHERN BEIRUT CAMPS",
"body": "Fighting broke out between Palestinian\nguerrillas and Shi'ite Moslem Amal militiamen near camps in\nsouth lebanon as Syria prepared to extend its military presence\nat Beirut's settlements.\n Security sources in the southern port of Sidon said the\nclashes erupted in villages to the southeast between Amal and\nguerrillas loyal to Palestinian leader Yasser Arafat.\n Syria stepped in yesterday to halt battles at two Beirut\nrefugee camps but Amal said it would only lift its siege after\nArafat withdrew his men from the villages near Sidon.\n Reuter\n\u0003",
"date": " 8-APR-1987 07:19:41.15",
"places": [
"lebanon"
],
"id": "14915"
},
{
"title": "SOUTH AFRICAN OUTLOOK SEEN BRIGHTER, LIBERTY LIFE",
"body": "South Africa's economic recovery\nhas broadened as favourable terms of a three-year foreign debt\nrescheduling accord have given confidence to local business,\nLiberty Life Association of Africa Ltd said.\n The major life assurance company said in its first quarter\nreview that economic activity improved in 1986 with car and\nretail sales clearly rising, adding that South Africa's\neconomic future had \"brightened considerably.\"\n Liberty said pre-conditions existed for further growth in\n1987 despite longer term structural problems.\n Short-term interest rates were unlikely to rise markedly in\nthe near future and unemployment levels were stabilising, the\ncompany said.\n But the report cautioned that South Africa's economy still\nfaced high inflation and \"extremely fragile\" consumer and\nbusiness confidence which could be upset by political events.\n It also predicted the rand was likely to remain basically a\nweak currency despite its nine pct rise in the first quarter to\n49.55 U.S. Cts. REUTER\n\u0003",
"date": " 8-APR-1987 07:22:20.23",
"places": [
"south-africa"
],
"id": "14916"
},
{
"title": "MALAYSIAN FUND TO BE LAUNCHED IN U.S. IN MAY",
"body": "The first Malaysian investment fund\nfor foreign investors will be launched in the United States\nmarket next month to raise between 60 to 69 mln dlrs, <Arab\nMalaysian Merchant Bank Bhd> (AMBB) said.\n The fund, called <Malaysian Fund Inc>, will be jointly\nsponsored by the merchant bank and the International Fund\nCorporation of the World Bank, said AMBB in a statement.\n The two institutions, together with Merrill Lynch Capital\nMarkets <MER> and Morgan Stanley Inc <MS>, are underwriters for\nthe fund, it added.\n AMBB said its wholly-owned subsidiary <Arab Malaysian\nConsultant> will be the fund's Malaysian investment adviser\nwhile <Morgan Stanley Asset Management Inc> will manage it.\n It added that 80 pct of the money raised will be used to\ninvest in shares of Malaysian companies on the Kuala Lumpur\nStock Exchange and the remaining in unlisted shares.\n AMBB said the fund will expose the Malaysian market to US\nand Japanese investors and help develop the local capital\nmarket.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:23:37.18",
"places": [
"usa",
"malaysia"
],
"id": "14917"
},
{
"title": "INDONESIAN INFLATION RATE 8.8 PCT IN 1986/87",
"body": "Inflation was by 8.8 pct in Indonesia\nduring fiscal 1986/87 to March 31, compared to 5.66 pct the\nprevious year, Information Minister Harmoko said after a\ncabinet session to discuss the economic situation.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:25:36.50",
"topics": [
"cpi"
],
"places": [
"indonesia"
],
"id": "14918"
},
{
"title": "U.K. MONEY MARKET GIVEN 53 MLN STG ASSISTANCE",
"body": "The Bank of England said it provided the\nmoney market with 53 mln stg assistance in the morning session.\n This compares with the bank's estimate of a shortage in the\nsystem of around 300 mln stg which it earlier revised up from\n250 mln.\n The central bank made outright purchases of bank bills\ncomprising 46 mln stg in band three at 9-3/4 pct and seven mln\nstg in band four at 9-11/16 pct.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:27:55.76",
"topics": [
"money-fx",
"interest"
],
"places": [
"uk"
],
"id": "14919"
},
{
"title": "COUPON CUT ON KEIHANSHIN REAL ESTATE WARRANT BOND",
"body": "The coupon on the 25 mln dlr equity\nwarrant eurobond for Keihanshin Real Estate Co Ltd has been set\nat 2-1/8 pct compared with the 2-1/4 pct indication, lead\nmanager Daiwa Europe Ltd said.\n The exercise price has been set at 810 yen per share which\nrepresents a premium of 2.53 pct over today's closing price of\n790 yen. The exchange rate was set 146.30 yen to the dollar.\n The five-year deal is priced at par and guaranteed by the\nSumitomo Bank Ltd.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:28:48.05",
"places": [
"uk"
],
"id": "14920"
},
{
"title": "SAN MIGUEL DEAL HIT BY MORE LAWSUITS",
"body": "A bid by San Miguel Corp (SMC) <SANM.MN>\nto buy back 38.1 mln sequestered shares from United Coconut\nPlanters Bank (UCPB) has been hit by two new lawsuits, sources\nin the Philippine food and brewery company said.\n A Manila court yesterday issued an injunction barring UCPB\nfrom selling the shares, which represent 31 pct of SMC's\noutstanding capital stock of 121 mln shares, until hearings on\nApril 21 on a petition filed by Eduardo Cojuangco, a former\nchairman of both SMC and UCPB.\n Cojuangco said the Coconut Industry Investment Fund (CIIF)\nand 1.4 mln farmers were the rightful owners of the shares.\n Cojuangco said the shares were held in trust by UCPB and\nrepresented a blue chip investment. His petition said UCPB's\nplans to sell the shares to SMC were \"a serious breach of\nfiduciary duties.\"\n The SMC sources said the proposed share sale could also be\nheld up by a second derivative suit filed before the Securities\nand Exchange Commission (SEC) by Eduardo de los Angeles, a\ngovernment nominee on the company's board.\n De los Angeles, who represents SMC's minority stockholders,\nasked the SEC to block the transaction, approved last week by\nthe company's board.\n On April 2 the board sanctioned the repurchase of the\nsequestered shares for 4.79 billion pesos at 126 pesos per\nshare. De los Angeles told the SEC the company's retained\nearnings of 1.33 billion pesos would be wiped out by the\npurchase of the shares and would prevent the declaration of\ndividends.\n De los Angeles said the share purchase would also violate\nan SMC agreement with its creditors to maintain a 2.2-to-1 debt\nto equity ratio. He quoted SMC's chief financial director Ramon\ndel Rosario as telling the board that the transaction would\nboost the ratio to 2.5-to-1.\n In petitioning the SEC, de los Angeles amended an earlier\nsuit two weeks ago in which he charged SMC Chairman Andres\nSoriano III and nine other directors of violating their duties.\n De los Angeles' earlier complaint related to SMC assuming\nlast December a 26.5 mln dlr loan contracted by SMC's Hong Kong\nsubsidiary <Neptunia Corp> for a down payment on the shares.\nThe loan assumption was again ratified by last week's board\nmeeting.\n An arbitration panel set up by President Corazon Aquino to\nresolve the ownership issue is expected to submit its report by\nApril 15.\n \"The amended suit filed by Eduardo de los Angeles is part of\na continuing attempt by certain elements, in complete disregard\nof the facts and with questionable motives, to delay an early\ndisposition of the sequestered shares,\" San Miguel Corp said in\na statement.\n \"Coming as it does, when San Miguel Corp and UCPB have\nreached agreement on the price of the shares and the method of\npayment, this suit is in direct contravention of the\ngovernment's expressed desire to reach an amicable settlement\nof the controversy by April 15,\" the statement added.\n A San Miguel spokesman said he had no comment on\nCojuangco's court petition, adding: \"Any statement coming from\nus might be interpreted as adversarial.\"\n Meanwhile, Ramon Diaz, the head of a government panel which\nsequestered the shares last year, said Soriano was not eligible\nto buy the major portion of the shares because he was a United\nStates citizen.\n The sequestered shares are split into 24 mln \"A\" shares,\nwhich can only be owned by Filipinos, and 14 mln \"B\" shares which\nare available to foreign buyers.\n SMC sources said Soriano personally was not among\nprospective buyers. They said the shares would be purchased by\nthe <A.Soriano> group of companies, SMC, Neptunia and unnamed\ninstitutional investors. Soriano was named as one of the buyers\nin a bid in March 1986 for 33 mln shares controlled by UCPB.\n The sale was aborted when Diaz's Presidential Commission on\nGood Government sequestered the shares on suspicion they were\nowned by Cojuangco, a close associate of former President\nFerdinand Marcos. Cojuangco lives in self-imposed exile in the\nU.S.. The shares grew to 38.1 mln after a 15 pct stock dividend\nannounced last June.\n \"We have no objection to Soriano buying the \"B\" shares,\" Diaz\ntold Reuters. \"But everything is on hold now.\"\n The SMC spokesman said he did not know if the controversy\nwould be resolved before the company's annual stockholders'\nmeeting, scheduled for May 14.\n San Miguel Corp reported sales revenue of 12.2 billion\npesos in 1986, 11 pct above its 10.9 billion peso sales in\n1985. It said unaudited net profit was in the neighbourhood of\n700 mln pesos, an increase of about 50 pct over 1985.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:30:57.45",
"topics": [
"acq"
],
"places": [
"philippines"
],
"id": "14921"
},
{
"title": "RAIN BOOSTS CENTRAL QUEENSLAND SUGAR CANE CROP",
"body": "Good rains of one to four inches in the\npast 10 days have boosted moisture-stressed sugar cane crops in\nthe Mackay-Burdekin region of Queensland's central coast, an\nAustralian Sugar Producers' Association spokesman said.\n As previously reported, the region has been undergoing a\nsevere dry spell, partly relieved by scattered rainfall, since\nDecember, following the virtual failure of the summer wet\nseason.\n Mills in the area have been reporting that their crops are\nbeginning to look healthy and greener and are putting on growth\nsince the rains began, the spokesman said from Brisbane.\n Although the Mackay-Burdekin crop outlook is much better\nthan it was, there will be some cane losses, the spokesman\nsaid. But is too early to say what they will be and more rain\nis needed to restore sub-soil moisture.\n Elsewhere, in far north Queensland, the Bundaberg region\nand southern Queensland, the cane is in excellent condition and\nsome mills are forecasting record crops, he said.\n Initial 1987 crop estimates will probably be compiled\ntowards the end of May, he said.\n The cane crush normally runs from June to December.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:31:06.12",
"topics": [
"sugar"
],
"places": [
"australia"
],
"id": "14922"
},
{
"title": "FRENCH TRADERS FORECAST EC SUGAR TENDER",
"body": "The European Community (EC) is expected to\naward export licences at today's weekly tender for above 60,000\nand possibly up to 100,000 tonnes of white sugar after last\nweek's award for 102,350 tonnes, traders here said.\n They expected a maximum rebate of between 46.40 and 46.50\nEcus per 100 kilos, compared to last week's 46.864.\n Earlier, traders in London said the outcome of the tender\nwas very hard to predict after last week's substantial award\nand the placing of 785,000 tonnes of sugar into intervention.\nThey said they believed the tonnage would be around 60,000 but\ndeclined to give a rebate figure.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:33:56.20",
"topics": [
"sugar"
],
"organisations": [
"ec"
],
"places": [
"france"
],
"id": "14923"
},
{
"title": "PHILADELPHIA SEES CURRENCY OPTIONS TRADE IN ASIA",
"body": "The Philadelphia Stock Exchange will soon\nopen offices in Hong Kong and Tokyo to help boost Far Eastern\nparticipation in foreign currency options before it starts\nevening trading in four or five months time, exchange president\nNicholas Giordano told reporters.\n Japanese institutions are already major players in foreign\ncurrency options traded in Philadelphia, using subsidiaries or\nagents to trade during the current daytime session.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:37:44.82",
"places": [
"japan",
"hong-kong"
],
"id": "14924"
},
{
"title": "THYSSEN UNIT TO COOPERATE WITH CANADIAN FIRM",
"body": "Thyssen AG <THYH.F> unit\nThyssen Guss AG, a metals group, said it had agreed to\ncooperate with Canadian firm <Cercast Inc> to manufacture fine\ncasting products.\n Both companies would merge plants in the West German towns\nof Soest and Moers under a new company in which the two groups\nwould have equal shares in a capital of three mln marks.\n A spokeswoman for Thyssen Industrie AG, which holds 100 pct\nof Thyssen Guss, said the joint-venture should produce turnover\nof an annual 40 mln marks. Thyssen Industrie is held 90 pct by\nThyssen AG.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:39:33.55",
"places": [
"west-germany",
"canada"
],
"id": "14925"
},
{
"title": "ITALY'S LA FONDIARIA TO REPORT HIGHER 1986 PROFITS",
"body": "Italian insurer La Fondiaria Spa <LFDI.MI>\nsaid it expects to report consolidated group profit in 1986\nsignificantly higher than the 60 billion lire reported in 1985.\n The company said in a statement that parent company net\nprofit last year will rise from the 72 billion lire reported in\n1985. Consolidated group premiums totaled 1,700 billion lire in\n1986 compared with 1,490 billion the previous year.\n Iniziativa Meta <INZI.MI>, the financial services unit of\nMontedison Spa <MONI.MI>, controls the largest single stake in\nFlorence-based Fondiaria with 49.9 pct.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:39:54.45",
"topics": [
"earn"
],
"places": [
"italy"
],
"id": "14926"
},
{
"title": "NATIONAL BANK MORTGAGE ISSUES CANADIAN DLR BOND",
"body": "National Bank Mortgage Corp is issuing a\n100 mln Canadian dlr eurobond due May 18, 1992 with a nine pct\ncoupon and priced at 101-3/4 pct, McLeod Young Weir\nInternational Ltd said as lead manager.\n The non-callable bonds will be guaranteed by the National\nBank of Canada. They will be issued in denominations of 1,000\nand 10,000 dlrs and listed in Luxembourg.\n Gross fees of 1-7/8 pct comprise 1-1/4 pct for selling and\n5/8 pct for management and underwriting combined. Pay date is\nMay 18. There will be two co-leads.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:55:13.72",
"places": [
"uk"
],
"id": "14927"
},
{
"title": "NICKEL PRICES UNLIKELY TO RISE MUCH - SHEARSON",
"body": "Nickel prices are unlikely to rise\nsignificantly from current levels unless further steps are\ntaken to reduce production, Shearson Lehman Brothers said in\nits quarterly nickel market report.\n The market had recovered slightly to around 1.72 dlrs a lb\nyesterday from its four year low of 1.55 dlrs in early January,\ndue to the absence of Soviet nickel cathode deliveries, but\nShearson sees Soviet shipments soon returning to last year's\nbuoyant levels, which should ease current tightness.\n Output reductions by producers will take effect later this\nyear but are likely to be offset by increases elsewhere.\n Shearson said the nickel market will be virtually in\nbalance during 1987, with total non-Socialist world demand at\n556,000 tonnes, compared with an estimated 544,000 tonnes in\n1986, production at 505,000 tonnes (504,000) and imports from\nSocialist countries at 47,000 tonnes (50,000).\n It forecast prices will edge higher during the year from a\nfirst quarter average of 1.67 dlrs a lb up to 1.77 dlrs in the\nlast quarter. The year's average will be around 1.72 dlrs a lb\ncompared with 1.76 dlrs in 1986, using London Metal Exchange\ncash metal prices in dollar terms and assuming an average 1987\nsterling exchange rate of 1.55 dlrs.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:55:59.02",
"topics": [
"nickel"
],
"places": [
"uk"
],
"id": "14928"
},
{
"title": "HONG KONG PROVIDES NEW GUARANTEE FOR MTRC DEBTS",
"body": "The government will provide new\nguarantees for up to three billion H.K. Dlrs in financing\ninstruments to be issued by the government owned <Mass\nTransport Railway Corp>, bringing the total to 9.1 billion\ndlrs, Financial Secretary Piers Jacobs said.\n He told the Legislative Council the instruments would\nreplace existing longer term government guaranteed export\ncredit debt obligations.\n A total of 1.5 billion dlrs in government guaranteed export\ncredit debt obligations are due to mature in two years.\n REUTER\n\u0003",
"date": " 8-APR-1987 07:56:30.30",
"places": [
"hong-kong"
],
"id": "14929"
},
{
"title": "HIGHER 1986 PROFIT FOR DUTCH CHEMICAL FIRM DSM",
"body": "The fully state-owned Dutch\nchemical firm NV DSM <DSMN.AS> said its 1986 net profit rose to\n412 mln guilders from 402 mln in 1985, while turnover fell to\n17.7 billion guilders in 1986 from 24.1 billion in 1985.\n The company said 1986 dividend, which will be paid to the\nDutch state in its capacity of the firm's sole shareholder,\nwould be raised to 98 mln guilders from 70 mln guilders in\n1985.\n In an initial comment on its 1986 results, DSM said the\ndrop in 1986 turnover had been caused mainly by losses in the\ncompany's fertilizer division.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:08:28.27",
"topics": [
"earn"
],
"places": [
"netherlands"
],
"id": "14930"
},
{
"title": "POEHL WARNS AGAINST FURTHER DOLLAR FALL",
"body": "Bundesbank President Karl Otto Poehl\nsaid a weaker dollar would be risky and a further appreciation\nof the mark would damage prospects for sustained West German\neconomic growth.\n In a speech to the Institute of Contempory German Affairs\nhere, Poehl said \"It would be an extremely risky policy to aim\nfor a further substantial decline in the value of the dollar to\ncorrect the trade deficit.\"\n He said the United States could face a vicious circle of\ndepreciation, inflation and more depreciation if it took that\nroute.\n Poehl noted West Germany had already taken steps to meet\nU.S. Demands for greater stimulation of its domestic economy,\naccelerating tax cuts, cutting interest rates and tolerating\nabove-target money supply growth.\n He said he would have been happy to have brought forward\nfive billion marks of tax cuts now planned for January 1988 to\nthe beginning of this year, but he said the government faced\npolitical constraints getting such measures through the upper\nhouse of the West German parliament.\n But there were also limits to the impact West Germany could\naccept on exports from a rising mark, he said.\n Poehl said West Germany relied on exports for about\none-third of its gross national product, so a substantial\nerosion of export markets could not be offset by increasing\ndemand at home.\n \"A further appreciation of the mark could even be an\nobstacle to further growth,\" he said.\n Poehl said the Bundesbank had tolerated rapid money supply\ngrowth last year because the country enjoyed low inflation and\nbecause external factors, including low oil prices and\nfavourable terms of trade, had given some extra leeway.\n But Poehl said West Germany now faced a difficult dilemma\nover monetary policy.\n The underlying rate of inflation was now two pct, not the\nreported negative inflation rates last year, and West Germany\nwas affected more than before by exchange rate developments.\n \"For the time being, we will have to focus our policy more\non the external side, and we can live with a more expansionary\nmoney supply. But we must be very careful,\" he said.\n He said he shared some of the U.S. Concern about Japan's\ntrade surpluses, which affected European countries as well as\nthe United States.\n Poehl welcomed the so-called Louvre accord of monetary\nofficials of major industrialized countries, saying the\nimportance of the February 22 agreement to stabilize exchange\nrates had been underestimated.\n All partners had agreed that the dollar was at about the\nright level, and that further changes would damage growth, he\nsaid.\n \"This was a remarkable change in attitude, especially on the\npart of our American colleagues,\" he said.\n But he said there was still a danger that the correction of\nthe dollar's value could overshoot.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:14:52.55",
"topics": [
"money-fx",
"dlr"
],
"places": [
"usa",
"west-germany"
],
"id": "14931"
},
{
"title": "CINCINNATI BELL <CSN> STARTS AUXTON <AUXT> BID",
"body": "Cincinnati Bell Inc said it has started\nits previously-announced 15.75 dlr per share tender offer for\nall shares of Auxton Computer Enterprises Inc.\n In a newspaper advertisement, the company said the tender\nand withdrawal rights will expire May Five unless extended. The\noffer, which has been approved by the Auxton board and is to be\nfollowed by a merger at the same price, is conditioned on\nreceipt of a majority of Auxton's voting stock on a fully\ndiluted basis.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:17:38.91",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14932"
},
{
"title": "CALIFORNIA BIOTECH <CBIO> SEES 1ST QTR LOSS",
"body": "California Biotechnology\nInc said it expects to report a loss of 1,300,000 dlrs to\n1,600,000 dlrs for the first quarter due to increased\ninvestment in research and manufacturing and a scaleup of\nproduction.\n The company said research spending is running 50 to 60 pct\nabove a year ago as it tries to commercialize its products as\nquickly as possible, and increased expenditures are expected to\ncontinue for several more quarters. It said operating results\nwill fluctuate quarter to quarter, depending on the timing of\nsignificant payments from commercial partners.\n In the first three months of 1986, the company lost 150,000\ndlrs. The company changed its fiscal year in 1986 to a\ncalendar year from a year ending November 30. For the first\nquarter of last year, ended February 28, California Biotech\nearned 114,000 dlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:17:52.33",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14933"
},
{
"title": "PALL CORP <PLL> SETS QUARTERLY DIVIDEND",
"body": "Qtly div 8-1/2 cts vs 8-1/2 cts prior\n Pay May One\n Record April 20\n Reuter\n\u0003",
"date": " 8-APR-1987 08:18:26.72",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14934"
},
{
"title": "JAPAN DIVISION OF LABOUR WITH ASIA URGED",
"body": "Japan should promote division of labour\nwith its Asian neighbours, especially the newly industrialized\ncountries, to help achieve more balanced world economic growth,\nthe Bank of Japan said in a report.\n Instead of trying to produce everything by itself, Japan\nshould open up its market further to imports, transfer\nmanufacturing facilities abroad and increase technology\ntransfer with those nations, the bank said in its monthly\nreport.\n Japan should not see industrializing Asian nations as mere\ncompetitors in its overseas and domestic markets but as\ncountries that can contribute to the region's prosperity.\n The bank said trade relations between Japan and the Asian\nneighbouring countries have so far been vertical, meaning that\nJapan imports primary goods from those countries and exports\nmanufactured goods to them.\n But this has resulted in an increase in their trade\ndeficits with Japan while some newly industrialized Asian\nnations have accumulated trade surpluses with countries like\nthe United States.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:22:13.74",
"places": [
"japan"
],
"id": "14935"
},
{
"title": "BOTSWANA APPEALS FOR DROUGHT AID",
"body": "President Quett Masire appealed for\ninternational aid to combat the effects of a drought ravaging\nland-locked Botswana for the sixth consecutive year.\n Speaking on state radio, Masire said the drought had\ndecimated herds of cattle and wiped out crops throughout the\nmainly desert country, which would be forced to rely on South\nAfrica for most of its food supplies in the coming year.\n Masire said the government would also be forced to continue\na drought relief program until at least the end of 1988 to\nprovide emergency water supplies and supplementary food to\nvulnerable sections of the population.\n \"It is against this background that we appeal to the\ninternational community for assistance,\" Masire said.\n He thanked foreign governments for previous assistance, but\nadded, \"The needs of the people in rural areas are greater now,\nnot less. We must prevent the human suffering caused by\nmalnutrition.\"\n REUTER\n\u0003",
"date": " 8-APR-1987 08:23:06.19",
"places": [
"botswana"
],
"id": "14936"
},
{
"title": "U.K. GOVT TO INJECT 283 MLN STG INTO ROLLS ROYCE",
"body": "The U.K. Government will inject 283 mln\nstg gross into <Rolls Royce Plc> when the company is floated at\nthe end of this month, the pathfinder prospectus for the sale\nsaid.\n The government will offer all 635 mln existing shares, as\nwell as an unspecified number of shares created through the\ncapital injection, for sale to the public, the prospectus said.\n The sale price will be announced on April 28 and the offer\nwill close on May 7. Trading is expected to begin on May 19.\n The offer will be made in the U.K. Only and there will be\nno offering of shares overseas, it said.\n No allocation will be made of more than 10 pct of the\nshares in the company, and the government will hold on to a\n\"golden share\" to secure that the aero-engine manufacturer\nremains under U.K. Control, the prospectus said.\n Chairman Sir Francis Tombs said in the prospectus special\narrangements were being made for U.K. Employees and pensioners\nof the company to buy shares on a preferential basis.\n Secretary of State for Trade and Industry Paul Channon said\nthe capital injection of 283 mln stg would ensure the company\nhad a sound a balance sheet when it returned to the private\nsector after 1971.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:27:09.46",
"places": [
"uk"
],
"id": "14937"
},
{
"title": "CALIFORNIA MOVES AGAINST KMG MAIN HURDMAN",
"body": "California regulators said they\nwere seeking disciplinary action against the accounting firm\nKMG Main Hurdman as the result of a 1985 audit of Technical\nEquities Corp., an investment firm that filed for bankruptcy\nlast year.\n A spokeswoman for the California Board of Accountancy,\nwhich certifies public accountants and firms in the state, said\na six-page complaint was filed against the New York-based\naccounting firm.\n \"We basically charged that the Technical Equities audit was\nnot conducted in accordance with generally accepted auditing\nstandards,\" Della Bousquet, executive officer for the board,\ntold Reuters in a telephone interview.\n She said a hearing would probably be held before an\nadministrative law judge within three months. Penalties could\nrange from censure to revocation of KMG Main Hurdman's license\nto do business in California.\n KMG Main Hurdman merged last week with Peat Marwick\nMitchell of New York to become the world's largest accounting\nfirm.\n The San Francisco office of the firm declined to comment on\nthe board's allegations.\n Bousquet said the company, among other things, was accused\nof not properly investigating financial transactions and of\nissuing a favorable opinion in August 1985 that relied on\nmisrepresentations of Technical Equities management.\n She said the accounting firm, although it knew Technical\nEquities had severe cash flow and liquidity problems, was\naccused of not performing a proper audit of it.\n The complaint named four individuals, including two\npartners and two audit managers.\n Technical Equities, based in San Jose, filed for protection\nunder Chapter 11 of the bankruptcy laws in February 1986,\nlisting debts of 69.7 mln dlrs to 1,068 investors.\n Many of the investors were prominent sports and\nbroadcasting figures.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:29:32.99",
"places": [
"usa"
],
"id": "14938"
},
{
"title": "IRAN MOUNTS FRESH ATTACKS ON IRAQ NEAR BASRA",
"body": "Iranian forces mounted fresh attacks on\nthe Gulf war southern front today but Iraq said all were\nrepulsed with heavy loss of life.\n The Iranian news agency IRNA said Iranian troops inflicted\nsevere losses on Iraqi troops and military equipment on the\nsecond day of a new offensive east of Iraq's city of Basra.\n \"A number of tanks and personnel carriers were seized intact\nwhich were used against the enemy in the operational theatre,\"\nIRNA said.\n The Iraqi news agency INA said Iraqi forces beat back the\nlatest Iranian thrusts.\n Baghdad said earlier that the Iranians had gained \"footholds\"\non Iraqi territory after launching the offensive on three\nfronts near Basra.\n IRNA said yesterday the Iranians overran the headquarters\nof two Iraqi brigades west of Fish Canal, a defensive line\nabout 10 km from Basra.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:31:33.07",
"places": [
"iran",
"iraq",
"bahrain"
],
"id": "14939"
},
{
"title": "OECD URGES GERMANY TO STEP UP AID",
"body": "West Germany should take steps to increase\nits official development assistance, the Organisation for\nEconomic Cooperation and Development (OECD) said.\n A report by the organisation's Development Assistance\nCommittee (DAC) said German aid levels had shown only a\nmoderate increase in real terms in recent years, adding that\nthere was a risk that growth over the next few years might slow\nfurther.\n German aid, estimated at around four billion dlrs in 1986,\nrepresents 0.46 pct of the country's GNP. This is above the\nDAC's average of 0.36 pct, but might decline if corrective\nmeasures were not taken, the report said.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:32:17.89",
"organisations": [
"oecd"
],
"places": [
"west-germany"
],
"id": "14940"
},
{
"title": "UNILEVER SEEKS BUYER FOR STAUFFER CHEMICAL",
"body": "Unilever Plc and NV <UN.AS> has issued a\nprospectus through investment bankers Goldman Sachs and Co\nseeking a buyer for <Stauffer Chemical Co> of the U.S., Which\nit acquired with the recent takeover of <Chesebrough-Pond's\nInc>, a Unilever spokesman said.\n He noted Unilever has been indicating plans to dispose of\nStauffer, plus some smaller assets of Chesebrough, since the\nbid was made in December.\n The Stauffer sale prospectus has been sent in recent weeks\nto a number of companies expressing interest.\n The Unilever spokesman declined to say how much the group\nexpected to receive for Stauffer.\n Chesebrough's footwear and tennis racket businesses are\nalso likely to be disposed of, he added.\n Immediately available financial information on Stauffer,\nwhich is wholly-owned, was limited, he added. Nine month sales\nto September 1986 were about 1.2 billion dlrs.\n Unilever aquired Chesebrough for 3.2 billion dlrs in order\nto benefit from its well-known toiletry brands and food\nproducts.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:33:47.51",
"topics": [
"acq"
],
"places": [
"uk",
"usa"
],
"id": "14941"
},
{
"title": "ASEAN SHOWS MIXED PERFORMANCE IN 1986",
"body": "A sharp oil price decline and sharp\nfluctuations of exchange and interest rates in 1986 produced a\nmixed economic performance by the Association of Southeast\nAsian Nations (ASEAN), a United Nations study said.\n The annual report of the U.N. Economic and Social\nCommission for Asia and the Pacific (ESCAP) said the\ninternational economic environment reversed the fortunes of the\ntrade-oriented economies of the six ASEAN member countries.\n It said the already low 1985 growth rates of ASEAN's oil\nexporting countries -- Brunei, Malaysia and Indonesia --\ndropped further after the oil price fall.\n Three oil importers -- Singapore, the Philippines and\nThailand -- improved their performance mainly by restructuring\ntheir economies. But the report said the oil price fall reduced\nexport earnings, worsening economic prospects for the\nexporters.\n The exporters' non-oil commodity prices did not show major\nimprovement and protectionist pressures from industrial\ncountries restricted export of manufactured products, it said.\n The GDPs of Indonesia, which was 1.9 pct in 1985, and\nMalaysia, which fell a real one pct, barely grew in 1986.\n The two countries, buffeted by unfavourable external\nfactors in the past few years, were forced to curb aggregate\ndomestic consumption demands last year to avoid severe balance\nof payments pressures and to resort to extensive commercial\nborrowings.\n The U.N. Body said the economic outlooks of Singapore,\nThailand and the Philippines improved steadily in 1986 as the\nyear advanced. It said the most favourable factor benefiting\nthe three was the realignment of key currencies, especially the\nappreciation of the yen, which has resulted in the increased\ncompetitiveness of their exports against those from Japan.\n The report said the downward spiral plaguing the Philippine\neconomy since 1983 was reversed into an estimated 0.9 pct GDP\ngrowth in 1986 with agriculture and public utilities becoming\ngrowth sectors.\n It said the resumption of the Philippines' sustained growth\nrests largely on a satisfactory solution of its debt problem.\n ESCAP said the yen appreciation, together with economic\nrestructuring measures, played a big role in helping Singapore\nrecover faster than expected from its 1.8 pct GDP decline in\n1985.\n It said the Singapore GDP achieved a growth of over one pct\nlast year after registering positive growth from the second\nquarter.\n The Singapore economic revival was hampered by its own\nadjustment measures especially its two-year wage freeze\nenforced last April, a glut of its property market and\ndepressed conditions in its ASEAN neighbours which hurt\nSingapore because they take about a quarter of its total\nexports.\n The report said Thailand benefited from the changing world\neconomic environment far more than any of its ASEAN neighbours.\n The Thai performance stemmed from the expansion o its\nnon-traditional export items last year to cover more\nmanufactured products and its greater exploration of\nunsaturated export markets such as Asia, the Middle East and\nthe European Community.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:35:21.11",
"organisations": [
"un"
],
"places": [
"thailand",
"brunei",
"malaysia",
"indonesia",
"singapore",
"philippines",
"thailand"
],
"id": "14942"
},
{
"title": "CONRAC CORP SAID IT HAS ENTERED TALKS ON ITS ACQUISITION WITH SEVERAL PARTIES\n",
"date": " 8-APR-1987 08:36:23.95",
"topics": [
"acq"
],
"id": "14943"
},
{
"title": "BRITAIN, JAPAN CLASH OVER STOCK MARKET ACCESS",
"body": "Britain and Japan clashed today over U.K.\nDemands for greater access to the Tokyo Stock Exchange (TSE) as\ntrade tensions between the two countries mounted.\n British consumer affairs minister Michael Howard told\nreporters he was dissatisfied with the exchange's response to\nBritain's non-negotiable timetable for increased British\nmembership and warned of possible reprisals in the future.\n He described his meeting with Tokyo stock exchange (TSE)\nhead Michio Takeuchi, in which he demanded greater exchange\naccess, as \"very frank indeed.\"\n In a separate press conference, TSE President Michio\nTakeuchi said the exchange has done its utmost to liberalise\nits membership and called on Britain to make some concessions.\n According to Takeuchi, Howard wants three British firms to\nbe named members of the Tokyo stock exchange by the end of this\nyear. Neither Takeuchi nor Howard would name the companies.\n \"Next May is the earliest possible date for opening our\nmembership and I want the British government to understand\nthis,\" Takeuchi said.\n Membership cannot be increased before space on the trading\nfloor is expanded in May 1988, he said.\n Howard told reporters that was not good enough and said\nthat Britain would use its powers to ban Japanese financial\ninstitutions from London if it was not satisfied with Tokyo.\n Japan has until the next meeting of senior officials from\nthe two countries in May or June to come up with a postive\nresponse to the British timetable or face retaliation, he said.\n \"The timetable was constructed in a way that made it a very\nreasonable request and I expect it to be met,\" he said.\n Asked about the exchange's argument that it has no floor\nspace to expand membership, Howard replied, \"We find it very\ndifficult in our country to understand why the considerable\ningenuity and resourcefulness of the Japanese (in world\nmarkets) is unable to overcome problems of that kind.\"\n While here, Howard said he also expressed frustration with\nthe huge trade imbalance with Japan and with Tokyo's handling\nof demands by Britain's Cable and Wireless for a greater role\nin Japan's telecommunications business.\n According to Japanese newspaper reports, at least some of\nthat message may have penetrated.\n According to several reports, the Post and\nTelecommunications Ministry is considering a Cable and Wireless\nproposal for a telephone cable between Japan and the U.S.\n Ministry officials were unavailable for comment.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:37:38.98",
"places": [
"uk",
"japan"
],
"id": "14944"
},
{
"title": "CANADIAN AIRLINES TO PURCHASE SIX BOEING 767 AIRCRAFT\n",
"date": " 8-APR-1987 08:44:02.07",
"id": "14945"
},
{
"title": "ALLIED SIGNAL <ALD> FIBERS UNIT SETS RESEARCH",
"body": "Hauser Chemical Research Inc said\nit has been contracted by Allied Signal Inc's Allied Fibers\ndivision for research consulting on further development of\nimproved adhesion of polyolefin fiber through photografting.\n Hauser said it previously completed the successful first\nphase of this research effort.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:46:06.75",
"places": [
"usa"
],
"id": "14946"
},
{
"title": "VARIAN <VAR> GETS <TOSHIBA CORP> CONTRACT",
"body": "Varian Associates Inc said it\nhas received a three-year contract worth over 30 mln dlrs from\nToshiba Corp to supply anode X-ray generating tubes for\nToshiba's line of computerized tomography scanners.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:46:14.20",
"places": [
"usa"
],
"id": "14947"
},
{
"title": "<ASIX SYSTEMS> GETS MORE FINANCING",
"body": "ASIX Systems, a developer of\ntest systems for ASIC devices, said it has received 4,800,000\ndlrs in a second round of equity financing.\n The company said investors include first round participants\nParagon Partners, Citicorp <CCI>, Vista Ventures, Rust Ventures\nand Orien Ventures, plus new investors North Carolina Bank\nVenture Co LP, RepublicBankCorp <RPT> and ECI Ventures.\n It said it has now raised total capitalization of 8,600,000\ndlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:46:20.98",
"places": [
"usa"
],
"id": "14948"
},
{
"title": "CONRAC <CAX> IN MERGER TALKS WITH SEVERAL",
"body": "Conrac Corp sait has started\nnegotiations with several interested parties on its possible\nacquisition.\n It said there can be no assurance that any transaction will\nresult from the talks. It gave no further details.\n Mark IV Industries Inc <IV> started tendering for all\nConrac shares at 25 dlrs each on March 24 and owned 9.9 pct of\nConrac before starting the bid.\n Conrac is a producer and marketer of computer-related\ninformation display and communications equipment which also\nproduces special purpose architectural and industrial products.\n It owns Code-A-Phone Corp, a producer of telephone\nanswering machines.\n For 1986, the company reported profits of 7.8 mln dlrs, or\n1.16 dlrs a share, on sales of 153.9 mln dlrs. It has nearly\n6.8 mln shares outstanding.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:46:29.25",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14949"
},
{
"title": "TOP FRENCH BANKER SEES CHINA FOREIGN DEBT VERY LOW",
"body": "China's foreign debt is very low given\nits export capability, the size of its economy and its growth\npotential and the country is politically stable, Jean-Maxime\nLeveque, chairman of Credit Lyonnais, told reporters.\n Leveque, who has met the heads of most of China's banks\nincluding the president of its central bank during a visit\nhere, said the Chinese authorities are very attentive to its\nforeign debt and have the matter under control.\n Official figures show China's foreign debt at a post-1949\nrecord 16 billion dlrs at end-1986.\n Asked if he had advised China to borrow more francs and\nU.S. Dollars and less yen, Leveque said he had not offered any\nadvice, but added: \"The yen and the dollar are not stable, but\nthe ECU is stable.\"\n Asked if his bank has lost any confidence in China after\nthe resignation of Communist Party chief Hu Yaobang in January,\nhe said: \"We have total confidence in the political stability in\nChina. The policies of the open door and economic development\noutlined in 1979 will not change, although there may be\nfluctuations in speed.\"\n REUTER\n\u0003",
"date": " 8-APR-1987 08:47:18.17",
"places": [
"china",
"france"
],
"id": "14950"
},
{
"title": "JAPAN'S LDP URGES MORE IMPORTS OF 12 FARM ITEMS",
"body": "The ruling Liberal Democratic Party (LDP)\nhas proposed expanding imports of 12 farm products named in a\nU.S. Complaint against Japan to the General Agreement on\nTariffs and Trade last year, an LDP official said.\n The products include fruit juices, purees and pulp, some\ntomato products, peanuts, prepared beef products and beans.\n The proposal will be used as the basis for a more detailed\nLDP economic package to cut the trade surplus with the U.S. The\nparty is expected to formalise the package before April 19,\nwhen LDP General Council Chairman Shintaro Abe visits\nWashington.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:48:10.60",
"topics": [
"groundnut"
],
"places": [
"japan",
"usa"
],
"id": "14951"
},
{
"title": "AUSTRALIAN UNIONS LAUNCH NEW SOUTH WALES STRIKES",
"body": "Australian trade unions said they have\nlaunched week-long strikes and other industrial action in New\nSouth Wales, NSW, to protest against new laws that would reduce\ninjury compensation payments.\n Union sources said talks with the state government broke\ndown last night, but the two sides are scheduled to meet later\ntoday in an attempt to find a compromise.\n Rail freight and shipping cargo movements in the country's\nmost populous state were the first to be affected, and union\nofficials said almost every business sector will be hit unless\nthere is a quick settlement.\n The state government recently introduced a new workers'\ncompensation act which would cut the cash benefits to injured\nworkers by up to a third. The act is now awaiting parliamentary\nratification.\n NSW state premier Barrie Unsworth has said workers'\ncompensation has risen steeply in recent years and the proposed\ncuts would save hundreds of mlns of dollars a year.\n Union officials said industrial action could spread to\nother states as the federal government also plans to make sharp\ncuts in workers' compensation.\n Reuter\n\u0003",
"date": " 8-APR-1987 08:48:57.64",
"places": [
"australia"
],
"id": "14952"
},
{
"title": "TANZANIA RAISES PRICES TO KEEP BUDGET DEFICIT DOWN",
"body": "The Tanzanian government raised\nthe price of beer, soft drinks and cigarettes by 20 pct and\ntelephone and telex calls by 10 pct in an attempt to keep its\nbudget deficit for this financial year roughly on target.\n The deficit for the financial year ending on June 30 was\ninitially forecast at 3,350 mln shillings and the new measures\nwill raise some 700 mln shillings in extra revenue, a statement\nfrom the Ministry of Finance, Economic Affairs and Planning\nsaid.\n According to the statement, the price increases, which take\nimmediate effect, were needed because the government had lost\ntax revenue through lower than expected industrial production.\nWater and power problems and a shortage of spare parts had\nreduced the output of Tanzanian factories, it said.\n The ministry also announced a new 30 pct tax on goods\nimported by non-resident businessmen and said the government\nwould take steps against importers who have been evading duty\nin collusion with corrupt customs officials.\n REUTER\n\u0003",
"date": " 8-APR-1987 08:58:26.75",
"places": [
"tanzania"
],
"id": "14953"
},
{
"title": "COMPUTER RESEARCH INC <CORE> 2ND QTR FEB 28 NET",
"body": "Shr 14 cts vs nine cts\n Net 217,572 vs 153,454\n Revs 2,530,273 vs 2,558,924\n 1st half\n Shr 19 cts vs 11 cts\n Net 299,838 vs 174,739\n Revs 4,865,249 vs 4,495,021\n Reuter\n\u0003",
"date": " 8-APR-1987 08:59:55.04",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14954"
},
{
"title": "NMR CENTERS <NMRC> STARTS BUILDING IMAGE CENTER",
"body": "NMR Centers Inc said it\nhas started building five mln dlr multi-modality Ocean Medical\nImaging Center in Toms River, N.J., and completion is scheduled\nfor November.\n It said the center should generate more than five mln dlrs\nin annual revenues when fully operational.\n NMR said it is providing about 3,500,000 dlrs in equipment\nand working capital and will manage the center, while Center\nState Health Services Corp is financing construction of the\n1,600,000 dlr building.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:00:32.83",
"places": [
"usa"
],
"id": "14955"
},
{
"title": "NO SPECIAL CHECKS AT GERMAN BANKS BECAUSE OF VW",
"body": "Banking supervisory authorities are\nnot carrying out any special checks at banks in the wake of the\ncurrency fraud scandal at Volkswagen AG <VOWG.F>, a spokesman\nfor the Hesse regional state central bank, LZB, said.\n But inspectors are paying particular attention to foreign\nexchange matters in their routine checks at banks, he said in\nanswer to enquiries. There is no evidence rules were broken.\n The LZB spokesman was commenting on press reports that\nbanks had \"parked\" open currency positions for short periods with\nVW to circumvent regulations limiting the size of open currency\npositions that can be carried by banks overnight.\n The press allegations emerged after VW said it may have\nlost 480 mln marks as a result of a possible currency fraud.\n LZBs are regional branches of the Bundesbank. Their\ninspectors also act for the Federal Banking Supervisory Office\nin West Berlin, which regulates banking in West Germany.\n Following the 1974 Herstatt bank crash on currency\nspeculation, West Germany limited a bank's total open positions\novernight to 30 pct of shareholders' equity and reserves.\n German press reports have said some banks circumvented this\nrule by selling excess positions to VW, then repurchasing them.\n The banking regulations only cover banks. Company foreign\nexchange activities are not subject to the banking regulators.\n The LZB spokesman said there were no concrete signs that\nthe regulations had been broken, and it would be irresponsible\nto instigate a special check just on the basis of the reports.\n The LZBs receive monthly balance sheet statistics from\nbanks in their areas, which they check, and they also routinely\ninspect all banks in greater detail over longer periods.\n But LZB officials said it would be hard for inspectors to\ndetect a breach of these rules as they do not check companies\nand therefore would not see both sides of any parking deal.\n \"If the managements of the banks have not spotted them, it\nwill be even harder for our inspectors,\" said one official.\n It would be up to the public prosecutors to order special\nchecks on suspicion of breaches of these regulations, they\nsaid. Prosecutors in Brunswick are already investigating the VW\ncurrency scandal, and have ordered the arrest of VW's former\nchief foreign exchange dealer.\n Breaches of the Banking Law in this way can be punished by\na 100,000 mark fine for the dealers involved, and in extreme\ncases by removal of the managers if their active involvement is\nproved.\n REUTER\n\u0003",
"date": " 8-APR-1987 09:02:07.08",
"places": [
"west-germany"
],
"id": "14956"
},
{
"title": "AUSTRALIAN FOREIGN SHIP BAN ENDS",
"body": "Tug crews in New South Wales (NSW),\nVictoria and Western Australia yesterday lifted their ban on\nforeign-flag ships carrying containers but NSW ports are still\nbeing disrupted by a separate dispute, shipping sources said.\n The ban, imposed a week ago over a pay claim, had prevented\nthe movement in or out of port of nearly 20 vessels, they said.\nThe pay dispute went before a hearing of the Arbitration\nCommission today.\n Meanwhile, disruption began today to cargo handling in the\nports of Sydney, Newcastle and Port Kembla, they said.\n The industrial action at the NSW ports is part of the week\nof action called by the NSW Trades and Labour Council to\nprotest changes to the state's workers' compensation laws.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:05:42.63",
"topics": [
"ship"
],
"places": [
"australia"
],
"id": "14957"
},
{
"title": "RUBBERMAID INC 1ST QTR SHR 28 CTS VS 22 CTS\n",
"date": " 8-APR-1987 09:08:15.32",
"topics": [
"earn"
],
"id": "14958"
},
{
"title": "INDEPENDENT CHAIRMAN FOR DUTCH CARGO DISPUTE",
"body": "The two sides in the Rotterdam port\ngeneral cargo dispute have agreed to appoint an independent\nchairman, Han Lammers, to preside over future meetings,\nemployers' spokesman Gerard Zeebregts said.\n Lammers, Queen's Commissioner for the province of\nFlevoland, will not act as a mediator but will draw up an\nagenda and procedures for meetings between the employers and\nunions on a work-practice agreement and proposed redundancies.\n Two months of strikes in the sector began on January 19 in\nprotest at employers' proposals for 350 redundancies from the\n4,000-strong workforce this year.\n The strikes were called off by the main port union FNV on\nMarch 13 following an Amsterdam court's interim injunction\nagainst the redundancies on procedural grounds.\n The court is due to make a final ruling on May 7 but\nZeebregts said he expected the judgment to go against the\nemployers and they were therefore very likely to restart the\ncomplicated legal redundancy procedures in the near future.\n Meanwhile, the dispute over a new work-practice agreement\nin the port's grain sector continued, with 30 maintenance\nworkers on strike, although loading was not affected, a\nspokesman for Graan Elevator Mij, the largest employer in the\nsector, said.\n The employers have written to the union asking it to\nreconsider its position and a meeting of union members has been\ncalled for tomorrow.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:09:18.73",
"topics": [
"ship"
],
"places": [
"netherlands"
],
"id": "14959"
},
{
"title": "ELECTRO RENT CORP <ELRC> 3RD QTR FEB 28 NET",
"body": "Shr 20 cts vs 32 cts\n Net 1,358,000 vs 2,476,000\n Revs 27.1 mln vs 26.2 mln\n Avg shrs 6,852,000 vs 7,764,000\n Nine mths\n Shr 68 cts vs 1.05 dlrs\n Net 4,957,000 vs 8,129,000\n Revs 82.6 mln vs 78.8 mln\n Avg shrs 7,316,000 vs 7,754,000\n Reuter\n\u0003",
"date": " 8-APR-1987 09:09:38.48",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14960"
},
{
"title": "BOEING <BA> UNIT CHOOSES UNDUCTED FAN ENGINE",
"body": "Boeing Co's Boeing Commerical Airplane\nCo said it selected an unducted fan engine for continued\ndevelopment as the baseline engine for the advanced technology\n7J7 airliner due to enter service in 1992.\n Boeing said it reached the decision following a three-month\nstudy of <International Aero Engine's> SuperFan concept and the\nGeneral Electric <GE> UDF engine.\n Boeing said the UDF engine would up with a nine pct\nadvantage in fuel savings over the SuperFan on a typical\n500-nautical-mile trip.\n Boeing said it wil proceed with detail design of the 7J7\nand could launch the program in 1987 depending on the market\nresponse. It will seat about 150 passengers, the company said.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:10:38.28",
"places": [
"usa"
],
"id": "14961"
},
{
"title": "RUBBERMAID INC <RBD> 1ST QTR NET",
"body": "Shr 28 cts vs 22 cts\n Net 20.6 mln vs 16.1 mln\n Sales 238.0 mln vs 188.8 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 09:11:17.50",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14962"
},
{
"title": "WTC INTERNATIONAL INC <WAF> 4TH QTR FEB 28 NET",
"body": "Shr profit 13 cts vs loss 33 cts\n Net profit 1,149,000 vs loss 2,833,000\n Rev 51.8 mln vs 47.8 mln\n Year\n Shr profit 24 cts vs loss 18 cts\n Net profit 2,050,000 vs loss 1,551,000\n Rev 200.6 mln vs 180.1 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 09:13:16.01",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14963"
},
{
"title": "U.K. MONEY MARKET GIVEN FURTHER 166 MLN STG HELP",
"body": "The Bank of England said it provided the\nmarket with further help totalling 166 mln stg during the\nafternoon.\n In band one, it bought 31 mln stg of treasury bills and\nthree mln stg of bank bills at 9-7/8 pct, while in band two it\nbought 69 mln stg of bank bills at 9-13/16 pct. In addition, it\nbought 63 mln stg of band three bank bills at 9-3/4 pct.\n This brings the total assistance by the Bank so far today\nto 219 mln stg against a liquidity shortage it has estimated at\naround 300 mln stg.\n REUTER\n\u0003",
"date": " 8-APR-1987 09:19:05.97",
"topics": [
"money-fx",
"interest"
],
"places": [
"uk"
],
"id": "14964"
},
{
"title": "MEAD CORP 1ST QTR OPER SHR 1.09 DLRS VS 67 CTS\n",
"date": " 8-APR-1987 09:19:31.47",
"topics": [
"earn"
],
"id": "14965"
},
{
"title": "CANADIAN AIRLINES TO PURCHASE SIX BOEING<BA>JETS",
"body": "Canadian Airlines International\nsaid it agreed to purchase six Boeing Co 767-300ER (extended\nrange) aircraft, and options on eight more, for 1.6 billion\nCanadian dlrs, including spare parts and training.\n Delivery will begin in April 1988 and run through April\n1989, the company said.\n The airline said it plans to finance the new aircraft by\nmeans of oeprating leases. Canadian Airlines was recently\nformed through the merger of Canadian Pacific Airlines and\nPacific Western Airlines.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:19:39.62",
"places": [
"canada"
],
"id": "14966"
},
{
"title": "RUBBERMAID <RBD> SEES CONTINUED IMPROVEMENT",
"body": "Rubbermaid Inc said its incoming\norder rates continue strong and it expects to continue\nrecording favorable year to year comparisons in each remaining\nquarter of 1987.\n Today the company reported first quarter earnings of 20.6\nmln dlrs on sales of 238.0 mln dlrs, up from earnings of 16.1\nmln dlrs on sales of 188.8 mln dlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:20:11.40",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14967"
},
{
"title": "CAYUGA SAVINGS BANK <CAYB> 1ST QTR NET",
"body": "Shr 55 cts vs 41 cts\n Net 494,000 vs 204,000\n Avg shrs 896,655 vs 494,155\n Reuter\n\u0003",
"date": " 8-APR-1987 09:20:21.35",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14968"
},
{
"title": "JOHNSTOWN SAVINGS BANK FSB <JSBK> 1ST QTR NET",
"body": "Shr 33 cts vs not given\n Net 642,484 vs 362,883\n NOTE: Company went public in October 1986.\n Net includes pretax loan loss provisions of 90,000 dlrs vs\n56,250 dlrs and gain on sale of securities of 113,432 dlrs vs\n88,946 dlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:20:38.65",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14969"
},
{
"title": "HOME SAVINGS AND LOAN ASSOCIATION INC <HSLD>",
"body": "2nd qtr March 31\n Shr 57 cts vs not given\n Net 790,874 vs 628,020\n 1st half\n Shr 1.15 dlrs vs not given\n Net 1,588,985 vs 1,073,163\n NOTE: Company recently went public.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:20:51.77",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14970"
},
{
"title": "GEODYNAMICS CORP <GDYN> 3RD QTR FEB 27 NET",
"body": "Shr 21 cts vs 20 cts\n Net 596,000 vs 594,000\n Revs 8,693,000 vs 8,164,000\n Nine mths\n Shr 61 cts vs 58 cts\n Net 1,784,000 vs 1,653,000\n Revs 26.3 mln vs 23.0 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 09:21:09.93",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14971"
},
{
"title": "<NORTH STAR URANIUM INC> CHANGES NAME",
"body": "North Star Uranium Inc said it has\nchanged its name to West Coast Traders Inc to reflect its\nbusiness, the bulk importing of olive oil.\n The company said it plans to start distributing its Italia\nOlive Oil brand, now sold on the West Coast, nationally.\n North Star Uranium had been inactive until it acquired West\nCoast Traders in June 1986.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:24:18.61",
"places": [
"usa"
],
"id": "14972"
},
{
"title": "GREAT LAKES CHEMICAL <GLK> TO BUILD NEW PLANT",
"body": "Great Lakes Chemical Corp\nsaid it will build a new plant in El Dorado, Ark., to produce\nseveral fluorine-based specialty chemicals.\n It said total cost of the project, which would employ up to\n50 workers, is estimated in excess of 20 mln dlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:26:15.61",
"places": [
"usa"
],
"id": "14973"
},
{
"title": "SWEDISH UNEMPLOYMENT STEADY IN MARCH",
"body": "Swedish unemployment was steady at 2.2\npct of the workforce in March compared with the previous month,\nthe Central Bureau of Statistics said.\n In March 1986, the figure stood at 2.4 pct.\n REUTER\n\u0003",
"date": " 8-APR-1987 09:28:20.75",
"topics": [
"jobs"
],
"places": [
"sweden"
],
"id": "14974"
},
{
"title": "COMPAQ <CPQ> EXPECTS HIGHER FIRST QUARTER NET",
"body": "Compaq Computer Corp said it expects\nsales and earnings for the first quarter of 1987 to be higher\nthan analysts expectations due to strong demand for its\nproducts.\n Rod Canion, president and chief executive officer of\nCompaq, said he expects sales of over 200 mln dlrs for the\nperiod ending March 31, above analysts' estimates of 165-185\nmln dlrs. He added that earnings per share would exceed\nanalysts estimates of as high as 42 cts a share.\n Compaq reported earnings of 8.3 mln dlrs, or 30 cts a\nshare, and sales of 144 mln dlrs for the first quarter 1986.\n The company said demand for its DESKPRO 386, PORTABLE III\nand the new COMPAQ DESKPRO 286 will contribute to the sales\nincrease.\n \"The initial demand for the recently introduced COMPAQ\nPORTABLE III and the new models of the COMPAQ DESKPRO 286\nexceeds that of any other Compaq personal computers,\" Canion\nsaid. \"We saw continued demand for our personal computers\nacross the quarter, with March (1987) being a particularly\nstrong month.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:29:12.30",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14975"
},
{
"title": "CHRISTIAN DEMOCRAT MINISTERS RESIGN",
"body": "Italy's majority Christian Democrats have\nhanded in their resignation from the five-party government in\nwhich they are senior partners, Deputy Prime Minister Arnaldo\nForlani said.\n Forlani, president of the party, said he had handed a\nletter of resignation by the Christian Democrats, who make up\nmore than half the 30 member cabinet, to the office of Prime\nMinister Bettino Craxi.\n Political sources said the withdrawal of the Christian\nDemocrats meant the coalition -- which also includes\nRepublicans, Social Democrats and Liberals as well as the\nSocialists -- had collapsed.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:34:58.43",
"places": [
"italy"
],
"id": "14976"
},
{
"title": "M/A-COM <MAI> ENDS CHIEF OPERATING OFFICER POST",
"body": "M/A-Com Inc said it has\neliminated the post of cheif operating officer, which had been\nheld by president Thomas F. Burke until his recent election as\nchief executive officer.\n The company said in a reorganization, it has named senior\nvice president-corporate marketing James F. Bunker to the new\npost of executive vice president and chief strategic officer,\ngiving him responsibility for corporate marketing, component\nfield sales, strategic planning, new business development and\nthe company's corporate technology center.\n The company said Richard H. Hale, president of the\ncomponents division, has been named executive vice\npresident-Components Group, giving him additional\nresponsibility for the semiconductor division and advanced\nsemiconductor operations.\n It said Harold C. Wells has been named executive vice\npresident-Systems Group, giving him responsibility for the\ngovernment systems division, Omni West subsystems division,\nsubsystems operations in Burlington, Mass., microwave power\ndevices operations in Hauppauge, N.Y., and the M/A-Com MAC\noperation in Chelmsford, Mass.\n Wells had been co-president of the subsystems division.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:40:25.66",
"places": [
"usa"
],
"id": "14977"
},
{
"title": "I.U. INTERNATIONAL <IU> TO SELL INSURANCE UNITS",
"body": "I.U. International Co said it\nreached a preliminary agreement to sell the Hawaiian Insurance\nCos to Hawaiian Electric Industries Inc. <HE>.\n Terms of the transaction were not disclosed, the company\nsaid.\n The transaction is subject to the execution of definitive\nagreements, certain governmental approvals and approvals by the\nboards of directors involved, I.U. International said.\n Hawaiian Electric said the planned purchase was part of its\nstrategy to increase the company's investment in selected\nservice industries in Hawaii, including financial services.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:43:29.66",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14978"
},
{
"title": "COLOROCS <CLRX> EXTENDS WARRANT EXERCISE PERIOD",
"body": "Colorocs Corp said it has extended\nthe expiration of the exercise period for its Class A warrants\nto May Eight from April 16.\n Each warrant allows the holder to buy a common share for\n3.75 dlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:43:37.22",
"places": [
"usa"
],
"id": "14979"
},
{
"title": "MASON BEST FORMS ENERGY HOLDING COMPANY",
"body": "<Mason Best Co> said it has formed\n<Meridian Energy Corp>, a privately-owned holding company\nstructured to acquire operating companies ans assets in the oil\nand gas industry.\n Mason Best, a Texas-based merchant banking firm, said it is\nsponsor and largest shareholder of Meridian. The new company's\nchairman and chief executive officer is Ralph E. Bailey, who\nretired as vice-chairman of Du Pont Co <DD> and chairman of its\nConoco Inc subsidiary on March 31.\n Meridian is headquartered in Dallas with an administrative\noffice in Stamford, Conn.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:43:49.26",
"places": [
"usa"
],
"id": "14980"
},
{
"title": "CXR TELCOM CORP <CXRL> 3RD QTR MARCH 31 NET",
"body": "Shr nil vs nil\n Net 215,000 vs 16,000\n Revs 2,800,000 vs 1,100,000\n Nine mths\n Shr one ct vs nil\n Net 620,000 vs 231,000\n Revs 8,100,000 vs 2,100,000\n Reuter\n\u0003",
"date": " 8-APR-1987 09:43:53.51",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14981"
},
{
"title": "PROXMIRE OUTLINES INSIDER TRADING LEGISLATION",
"body": "Senate Banking Committee Chairman\nWilliam Proxmire (D-Wis) said he planned to introduce\nlegislation shortly to require greater public disclosure of\ncorporate takeovers and fairer treatment for all shareholders.\n Speaking to the National Association of Manufacturers,\nProxmire said recent insider trading stock scandals increased\nthe chance that Congress will act to curb abuses.\n \"We are proposing legislation that would provide for more\ndisclosure, would be fairer to all shareholders, and would\ninsure that takeovers are properly financed,\" he said.\n Among the provisions, the bill would reduce the threshold\nfor notifying the Securities and Exchange Commission that a\ninvestor or group has acquired a percentage of stock in a\ncompany to three pct from the current five pct threshold within\n10 days, Proxmire said.\n In addition, there would be a pre-notificaton requirement\nthat an investor intended to aquire three pct that would have\nto filed with the SEC.\n Proxmire said the pre-notification requirement was meant to\nprevent arbitragers from having a jump on the general public in\nknowing about coming takeover attempts.\n Proxmire said he would call for extending the period that a\ntender offer must be kept open under the Williams Act to 60\nbusiness days from the current 20 business days.\n His bill would provide for private suits if the acquiring\ncompany violated the time period on the tender offer.\n To correct abuses in the financing of takeovers, Proxmire\nsaid the legislation would aim at insuring current margin\nrequirments are properly enforced.\n The Federal Reserve Board has a 50 pct margin requirement\nfor purchasing stock, but Proxmire said it is not generally\nenforced in hostile takeovers.\n Rather, the groups or individuals leading a takeover\ndeclare that they can raise the capital for a takeover without\nactually putting any of their own money, Proxmire said.\n He said his bill would allow private suits for damages for\nfailure to meet the Federal Reserve's 50 pct margin\nrequirements.\n The bill also would require more disclose when several\ninvestors form an alliance in a hostile takeover.\n \"When Pickens and Icahn get together we want people to know\nabout it,\" Proxmire said.\n Proxmire said he favored the approach used in Britain\ntowards two-tiered tender offers that insures that all\nshareholders recieve equal treatment.\n He said he expected amendments to the bill also would cover\ndefensive mechanisms such as green mail and poison pills.\n Proxmire said he intended to introduce his bill later this\nmonth and predicted the Senate committee would act this spring.\n He said he was hopeful Congress could pass a bill this\nyear.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:44:13.42",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "14982"
},
{
"title": "HELEN OF TROY CORP <HELE> 4TH QTR FEB 28 NET",
"body": "Shr 17 cts vs 13 cts\n Net 598,000 vs 392,000\n Sales 10.2 mln vs 7,474,000\n Avg shrs 3,432,000 vs 3,045,000\n Year\n Oper shr profit 1.05 dlrs vs loss 47 cts\n Oper net profit 3,498,000 vs loss 1,427,000\n Sales 52.2 mln vs 40.8 mln\n Avg shrs 3,320,000 vs 3,060,000\n NOTE: Latest year net excludes 782,000 dlr tax credit.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:44:27.84",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14983"
},
{
"title": "BANKERS TRUST <BT> PUTS BRAZIL ON NON-ACCRUAL",
"body": "Bankers Trust New York Corp said it has\nplaced its approximately 540 mln dlrs of medium- and long-term\nloans to Brazil on non-accrual status and that first-quarter\nnet income will be reduced by about seven mln dlrs as a result.\n Brazil suspended interest payments on its 68 billion dlrs\nof medium- and long-term debt on February 22.\n U.S. banking regulations do not require banks to stop\naccruing interest on loans until payments are 90 days overdue,\nbut Bankers Trust said it acted now because of \"the high\npotential of a continued suspension that would result in\nreaching the 90-day limit in the second quarter of 1987.\"\n Assuming no cash payments at current interest rates are\nreceived for the rest of 1987, Bankers Trust estimated that\nfull-year net income would be reduced by about 30 mln dlrs.\n Bankers Trust said it assumes that debt negotiations\nbetween Brazil and its commercial bank lenders will lead to the\nresumption of interest payments.\n The negotiations resume in New York on Friday when central\nbank governor Francisco Gros is expected to ask banks for a\n90-day rollover of some 9.5 billion dlrs of term debt that\nmatures on April 15.\n Reuter\n\u0003",
"date": " 8-APR-1987 09:44:45.81",
"topics": [
"earn"
],
"places": [
"usa",
"brazil"
],
"id": "14984"
},
{
"title": "<FIRST MERCANTILE CURRENCY FUND INC> 1ST QTR NET",
"body": "Shr profit 63 cts vs 22 cts\n Net 775,868 vs 276,446\n Revs 2,255,742 vs 706,130\n Reuter\n\u0003",
"date": " 8-APR-1987 09:45:03.92",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "14985"
},
{
"title": " UK INTERVENTION BD SAYS EC SOLD 118,350 TONNES WHITE SUGAR AT REBATE 46.496 ECUS.\n",
"date": " 8-APR-1987 09:51:13.52",
"topics": [
"sugar"
],
"id": "14986"
},
{
"title": "STOLTENBERG SEES MOVES TO STRENGTHEN PARIS ACCORD",
"body": "West German Finance Minister Gerhard\nStoltenberg said today's meetings of major industrial countries\nwould look at ways of strengthening the Paris accord on\nstabilizing foreign exchange rates.\n Stoltenberg told journalists he saw no fundamental weakness\nof the February 22 agreement of the Group of Five countries and\nCanada to keep exchange rates near the then-current levels.\n But he declined to say what measures would be discussed\nahead of a communique of the Group of Seven ministers later\ntoday.\n Stoltenberg and Bundesbank President Karl Otto Poehl said\nthe importance of the Paris agreement, also known as the Louvre\naccord, had been underestimated.\n Stoltenberg said there is greater agreement now among major\ncountries than six months ago, at the time of the annual\nmeeting of the International Monetary Fund and World Bank,\nmarked by sharp discord between the United States and its major\ntrading partners.\n \"There is no fundamental weakness of the Paris accord,\" he\nsaid. \"We will be looking at ways of strengthening it, but I do\nnot want to discuss that here.\n Stoltenberg said the Louvre agreement was working despite a\n\"slight firming\" of the yen against the dollar.\n And Poehl noted that the dollar/mark parity was unchanged\nsince February 22 without the Bundesbank having had to sell\nmarks to support the dollar.\n \"The Louvre agreement has been honored by the market,\" he\nsaid.\n Poehl said West Germany had lived up to its side of the\nbargain in Paris by preparing the way for tax cuts to be\naccelerated as a way of stimulating growth.\n Poehl said, however, that Japan had not yet fulfilled its\npledges for economic stimulation.\n \"And we will have to see if the United States is able to do\nwhat they promised in Paris on reducing the budget deficit --\nand get it through Congress,\" he added.\n Stoltenberg reiterated West German concern about a further\nfall in the dollar, noting that the mark was up 85 pct against\nthe dollar and nearly 20 pct on a trade-weighted basis.\n \"You cannot expect that to go unnoticed in an economy. And\nit is not just a German problem, it is a European problem,\" he\nsaid.\n REUTER\n\u0003",
"date": " 8-APR-1987 09:52:12.98",
"topics": [
"money-fx"
],
"places": [
"usa",
"west-germany"
],
"id": "14987"
},
{
"title": "U.K. INTERVENTION BOARD DETAILS EC SUGAR SALES",
"body": "A total 118,350 tonnes of current series\nwhite sugar received export rebates of a maximum 46.496\nEuropean Currency Units (Ecus) per 100 kilos at today's\nEuropean Community (EC) tender, the U.K. Intervention Board\nsaid.\n Out of this, traders in the U.K. Received 37,800 tonnes, in\nFrance 34,500, in West Germany 20,000, in Belgium 18,500, in\nSpain 5,800 and in Denmark 1,750 tonnes, it added.\n Earlier today, London traders had declined to give a\nprojected view on the level of subsidy although some said total\ntonnage awards would be around 60,000 tonnes.\n Paris traders foresaw between 60,000 and 100,000 tonnes\nbeing authorised for export at a 46.40/46.50 Ecu subsidy.\n Cumulative sales authorisations for the current season\n(1986/87) now stand at 2,194,970 tonnes (43 weeks).\n Last week saw 102,350 tonnes whites authorised for export\nunder licences to end-Sep at the higest ever rebate of 46.864\nEuropean Currency Units (Ecus) per 100 kilos.\n REUTER\n\u0003",
"date": " 8-APR-1987 09:53:50.78",
"topics": [
"sugar"
],
"organisations": [
"ec"
],
"places": [
"uk",
"france",
"west-germany",
"belgium",
"spain",
"denmark"
],
"id": "14988"
},
{
"title": "FORD EXTENDS INCENTIVE PROGRAM ON LIGHT TRUCKS TO APRIL 30 FROM APRIL SIX\n",
"date": " 8-APR-1987 09:56:13.36",
"id": "14989"
},
{
"title": "NORANDA TO SELL 150 MLN DLRS IN DEBENTURES",
"body": "<Noranda Inc> said it will sell 150 mln\ndlrs of adjustable convertible subordinated debentures to a\ngroup of investment dealers led by Gordon Capital Corp.\n The debentures will be convertible into Noranda common\nshares until April 29, 2007 at 35 dlrs per share.\n Interest rate will be five pct subject to upward adjustment\nbased on dividends paid on common shares, Noranda said.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:00:39.63",
"places": [
"canada"
],
"id": "14990"
},
{
"title": "BACHE SECURITIES CANADA BUYS TORONTO EXCHANGE SEAT FOR 301,000 DLRS\n",
"date": " 8-APR-1987 10:02:44.11",
"id": "14991"
},
{
"title": "MAFINA BOND WITH WARRANTS SET AT 250 MLN SFR",
"body": "The issue amount of Mafina BV's seven\nyear two pct Swiss franc bond with equity warrants has been set\nat 250 mln Swiss francs, lead manager Credit Suisse said.\n REUTER\n\u0003",
"date": " 8-APR-1987 10:03:35.80",
"places": [
"switzerland"
],
"id": "14992"
},
{
"title": "MEAD <MEA> EXPECTS IMPROVED EARNINGS THIS YEAR",
"body": "Mead Corp said the outlook for its\nmajor paper markets looks strong for the second quarter and\naugurs well for its earnings in 1987.\n \"The generally strong outlook bodes well for significantly\nimproved earnings this year,\" Burnell Roberts, chairman and\nchief executive officer said.\n Earlier, the company reported first quarter earnings of\n34.2 mln dlrs, or 1.09 dlrs a share, versus 20.3 mln dlrs, or\n65 cts a share, in last year's first quarter.\n In 1986 the company reported earnings from continuing\noperations of 109.3 mln dlrs, or 3.50 dlrs a share.\n Mead said its first quarter benefitted from stronger market\nconditions and improved operations.\n \"The combination of capital improvement programs and more\nemployee involvement has been paying off throughout our paper\noperations,\" Roberts said.\n He added that Mead's pulp and paperboard businesses are\noperating well as prices have improved and strong demand has\nplaced most products in a sold-out position through the middle\nof the year.\n Mead said sales of its unbleached coated paperboard was\nparticularly strong, up 13 pct versus the first quarter 1986.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:04:57.32",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14993"
},
{
"title": "ENDOTRONICS SEEKS TO ESTABLISH 2ND QTR RESERVE",
"body": "Endotronics Inc said because of its\ndecisions to discontinue development of health care products,\nreorganize under Chapter 11 and establish adequate allowances\nfor uncollectible receivables, it expects to establish reserves\ntotaling about 11 mln dlrs in the March 31 second quarter.\n The company said it plans to seek buyers for health care\ntechnologies including proprietary rights to a Hepatitis B\nVaccine and technologies related to LAK cell cancer\nimmunotherapy.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:05:16.62",
"places": [
"usa"
],
"id": "14994"
},
{
"title": "AMERTEK INC <ATEKF> 1ST QTR NET",
"body": "Shr profit 20 cts vs loss three cts\n Net profit 849,299 vs loss 82,512\n Revs 7,929,138 vs 3,849,224\n Reuter\n\u0003",
"date": " 8-APR-1987 10:05:28.11",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "14995"
},
{
"title": "COMSTOCK GROUP <CSTK> SELLS PREFERRED STOCK",
"body": "Comstock Group Inc said it has\nsigned a letter of intent to sell about 20 mln dlrs of\nconvertible preferred stock to <Spie Batignolles SA> of Paris'\nSpie Group Inc U.S. subsidiary.\n Details were not disclosed.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:05:48.86",
"places": [
"usa"
],
"id": "14996"
},
{
"title": "QVC NETWORK <QVCN> CLARIFIES AGREEMENT",
"body": "QVC Network Inc said its\nagreement in principle with Safeguard Scientifics Inc <SFE>\nallows Safeguard to name the majority of QVC's directors only\nif a seven mln dlr indebtedness to Safeguard is in default.\n Yesterday, QVC said announced it entered into the agreement\nin principle with Safegaurd under which QVC would receive 13\nmln dlrs in financing, including seven mln dlrs of QVC notes to\nbe purchase by Safeguard and a six-mln-dlr revolving credit\nfacility to be provided by a local bank.\n QVC said as long as the seven mln dlr indebtedness to\nSafeguard remains outstanding, Safeguard will be able to name\nthree of QVC's nine directors. Safeguard's ability to name a\nmajority of QVC's directors will be triggered only if the seven\nmln dlr indebtedness to Safeguard is in default, the company\nsaid.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:06:05.83",
"places": [
"usa"
],
"id": "14997"
},
{
"title": "ALEX BROWN INC <ABSB> 1ST QTR MARCH 27 NET",
"body": "Shr primary 78 cts vs 68 cts\n Shr diluted 75 cts vs 68 cts\n Qtrly div six cts vs five cts\n Net 7,929,000 vs 6,569,000\n Revs 78.7 mln vs 61.9 mln\n NOTE: Pay date for the qtrly div is April 28 for\nshareholders of record April 20.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:06:35.73",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "14998"
},
{
"title": "EQUITABLE RESOURCES <EQT> FILES UNIT OFFERING",
"body": "Equitable Resources Inc said it filed\nwith the Securities and Exchange Commission a registration\nstatement covering a 75 mln dlr issue of units.\n Each unit will consist of a 1,000 dlr face amount 25-year\ndebenture with up to 21 five-year warrants to purchase the\ncompany's common stock. Each warrant will equal one share. The\ndebentures will be non-refundable for 10 years.\n Proceeds will be used to repay short-term loans incurred to\nfinance part of Equitable's 1986 capital expenditure program\nand the redemption of 9-5/8 pct and 10-1/2 pct first mortgage\nbonds of 1995. First Boston will manage the issue.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:07:02.37",
"places": [
"usa"
],
"id": "14999"
},
{
"title": "TOWN AND COUNTRY JEWELRY MANUFACTURING <TCJC>",
"body": "4thh qtr Feb 28\n Shr 46 cts vs 22 cts\n Net 2,139,034 vs 854,182\n Sales 30.8 mln vs 20.6 mln\n Avg shrs 5,280,854 vs 4,559,646\n Year\n Shr 1.34 dlrs vs 1.15 dlrs\n Net 5,935,117 vs 4,156,171\n Sales 107.2 mln vs 71.6 mln\n Avg shrs 5,281,387 vs 3,616,183\n NOTE: Town and Country Jewelry Manufacturing Corp.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:07:26.62",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15000"
}
]