reuters-21578-json
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A JSONified and simplified version of the famous reuters 21578 dataset
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[
{
"title": "PAXAR CORP <PAKS> MAKES ACQUISITION",
"body": "Paxar Corp said it has\nacquired Thermo-Print GmbH of Lohn, West Germany, a distributor\nof Paxar products, for undisclosed terms.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:08:12.27",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15001"
},
{
"title": "<MARK'S WORK WEARHOUSE LTD> YEAR JAN 31 NET",
"body": "Shr 10 cts vs 32 cts\n Net 975,000 vs 3,145,000\n Sales 159.1 mln vs 147.3 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 10:08:15.55",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15002"
},
{
"title": "KEY TRONIC <KTCC> GETS NEW BUSINESS",
"body": "Key Tronic corp said it has\nreceived contracts to provide seven original equipment\nmanufacturers with which it has not done business recently with\nover 300,000 computer keyboards for delivery within the next 12\nmonths.\n The company said \"The new contracts represent an annual\nincrease of approximately 25 pct in unit volume over last\nyear.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 10:08:21.25",
"places": [
"usa"
],
"id": "15003"
},
{
"title": "CANADIAN BASHAW, ERSKINE RESOURCES TO MERGE",
"body": "Canadian Bashaw Leduc Oil and\nGas Ltd said it agreed to merge with Erskine Resources Ltd.\nTerms were not disclosed.\n Ownership of the combined company with 18.8 pct for the\ncurrent shareholders of Canadian Bashaw and 81.2 pct to the\ncurrent shareholders of Erskine, the companies said.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:08:26.93",
"topics": [
"acq"
],
"places": [
"canada"
],
"id": "15004"
},
{
"title": "ENTOURAGE <ENTG> HAS FIRST QUARTER LOSS",
"body": "Entourage International Inc said it had\na first quarter loss of 104,357 dlrs, after incurring 70,000\ndlrs in costs for an internal audit, a report for shareholders\nand proxy soliciation and 24,000 dlrs in startup expenses for\nopening London offices.\n The company went public during 1986.\n Entourage also said it has started marketing a solid\nperfume packaged in a lipstick tube called \"Amadeus,\" retailing\nat 15 dlrs.\n The company also said it has acquired North Country Media\nGroup, a video productions company.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:11:16.60",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15005"
},
{
"title": "<MR. JAX FASHIONS INC> YEAR FEB 28 NET",
"body": "Shr 58 cts vs 29 cts\n Net 3,141,000 vs 1,440,000\n Sales 24.7 mln vs 13.0 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 10:11:26.26",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15006"
},
{
"title": "DIGITAL COMMUNICATIONS<DCAI> NAMES NEW PRESIDENT",
"body": "Digital Communications\nAssociates Inc said its board has named James Ottinger\npresident and chief operating officer.\n The company said Ottinger replaces Bertil Nordin as\npresident. Nordin will become chairman and chief executive\nofficer, Digital Communications added.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:11:53.50",
"places": [
"usa"
],
"id": "15007"
},
{
"title": "DIGITAL <DEC> IN TERADYNE <TER> LICENSING PACT",
"body": "Teradyne Inc said Digital Equipment Corp\nsigned a multi-license purchase agreement valed at over one mln\ndlrs for Teradyne's Lasar Version Six Simulation System.\n The company said the agreement includes the option for\nfutrue lasar purchases by Digital.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:11:58.32",
"places": [
"usa"
],
"id": "15008"
},
{
"title": "HOME INTENSIVE <KDNY> EXTENDS DIALYSIS AT HOME",
"body": "Home Intensive Care Inc\nsaid it has opened a Dialysis at Home office in Philadelphia,\nits 12th nationwide.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:12:18.53",
"places": [
"usa"
],
"id": "15009"
},
{
"title": "BACHE CANADA BUYS TORONTO STOCK EXCHANGE SEAT",
"body": "Bache Securities Inc, 80 pct owned by\nPrudential Bache Securities Inc, said it acquired its third\nToronto Stock Exchange seat for 301,000 Canadian dlrs.\n The company said the price was the highest yet paid for an\nexchange seat. A Toronto Stock Exchange spokesman said an\nexchange seat last sold for 195,000 dlrs in March, which was\nacquired by <Toronto Dominion Bank>.\n Bache Securities said it needed a third exchange seat as\npart of an extensive plan to provide an enhanced level of\nservice to clients. The seat will be used to further build its\nprofessional trading area, the investment dealer said.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:14:36.24",
"places": [
"canada"
],
"id": "15010"
},
{
"title": "F.W. WOOLWORTH CO SAYS IT HIKES DIVIDEND TO 33 CTS A SHARE FROM 28 CTS\n",
"date": " 8-APR-1987 10:17:29.78",
"topics": [
"earn"
],
"id": "15011"
},
{
"title": "F.W. WOOLWORTH CO <Z> HIKES DIVIDEND",
"body": "Qtly div 33 cts vs 28 cts prior\n Pay June 1\n Record May 1\n Reuter\n\u0003",
"date": " 8-APR-1987 10:19:42.41",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15012"
},
{
"title": "DUTCH SUGAR BEET PLANTING HALF FINISHED",
"body": "Roughly half of this year's expected\n130,000 hectare Dutch sugar beet crop is already in the ground,\na spokesman for Suiker Unie, the largest sugar processor in the\nNetherlands, told Reuters.\n Conditions are generally good and the average sowing date\nfor the crop is expected to be around April 11, against April\n23 last year, and a 10-year average of April 14, the spokesman\nadded.\n \"It is far too early yet to say what kind of output we can\nexpect when it comes to harvest in September, but at least the\ncrop is off to a very good start,\" he said.\n Last year, the Netherlands planted a record 137,600\nhectares of sugar beet and produced a record 1.2 mln tonnes of\nwhite sugar, substantially more than the country's combined \"A\"\nand \"B\" quota of 872,000 tonnes.\n This year, however, a self-imposed quota system has been\nintroduced with the aim of cutting plantings to 130,000\nhectares and reducing white sugar output to around 915,000\ntonnes to minimise the amount of non-quota \"C\" sugar produced.\n Only farmers with a record of growing suger beet have been\nallotted quotas. This is expected to prevent the area being\nboosted by dairy or cereal farmers moving into sugar.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:20:02.86",
"topics": [
"sugar"
],
"places": [
"netherlands"
],
"id": "15013"
},
{
"title": "U.K. EXPECTS SUBSTANTIAL DEMAND FOR ROLLS SHARES",
"body": "Demand for shares in state-owned engine\nmaker <Rolls Royce Plc> is expected to be substantial when the\ngovernment privatises it at the end of April, Christopher Clark\nof the group's bankers Samuel Montagu and Sons Ltd said.\n He told a press conference after the release of an initial\nprospectus for the float that the issue would be offered to\nU.K. Institutions, company employees and the general public.\n As in previous flotations, clawback arrangements would be\nmade if public subscriptions exceeded initial allocations.\n He declined to say how the shares would be allocated beyond\nsaying that a \"significant proportion\" would go to institutions.\n A decision on what percentage would go to each sector would\nbe made shortly before the sale price was announced on April\n28.\n Minimum subscription would be for 400 shares with payment\nin two tranches, again a method broadly in line with previous\nprivatisations.\n Chairman Sir Francis Tombs denied suggestions that Rolls\nwas a stock that should be left to the institutions. He noted\nthat although the aircraft industry was cyclical, Rolls had\nseveral operations -- such as spare parts and military\nequipment -- that evened out the swings.\n Rolls' 1986 research and development expenditure in 1986\nwas 255 mln stg and could be expected in the future to vary\naccording to changes in turnover.\n He noted that net research and development expenditure was\nwritten off in the year it occurred, a policy that received\n\"inadequate recognition in one or two of the more extravagant\nforecasts of future profits.\" He made no forecast himself.\n In 1986, Rolls reported that pretax profit rose 48 pct to\n120 mln stg on turnover 12 pct higher at 1.8 billion.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:20:14.11",
"places": [
"uk"
],
"id": "15014"
},
{
"title": "NV PHILIPS SHARES GET NYSE QUOTE FROM APRIL 14",
"body": "NV Philips\nGloeilampenfabrieken <PGLO.AS> shares are due to start trading\non the New York Stock Exchange on April 14, Philips chairman\nCor van der Klugt told the annual shareholders meeting.\n In March, the Dutch electronics group announced it would\nend its current over the counter listing on the New York NASDAQ\nsystem and move to the NYSE.\n Philips said the \"big board\" listing in New York is expected\nto boost its profile in the U.S., Where 10 pct of all\noutstanding Philips shares are held.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:25:01.82",
"places": [
"netherlands"
],
"id": "15015"
},
{
"title": "J.P. MORGAN AND CO INC 1ST QTR SHR 1.22 DLRS VS 1.28 DLRS\n",
"date": " 8-APR-1987 10:25:54.05",
"topics": [
"earn"
],
"id": "15016"
},
{
"title": "EC COMMISSION DETAILS SUGAR TENDER",
"body": "The EC Commission confirmed it granted\nexport licences for 118,350 tonnes of current series white\nsugar at a maximum export rebate of 46.496 European Currency\nUnits (ECUs) per 100 kilos.\n Out of this, traders in France received 34,500 tonnes, in\nthe U.K. 37,800, in West-Germany 20,000, in Belgium 18,500, in\nSpain 5,800 and in Denmark 1,750 tonnes.\n REUTER\n\u0003",
"date": " 8-APR-1987 10:28:08.79",
"topics": [
"sugar"
],
"organisations": [
"ec"
],
"places": [
"belgium",
"france",
"west-germany",
"spain",
"denmark"
],
"id": "15017"
},
{
"title": "PANCONTINENTAL OIL HAS PRIVATE FINANCING",
"body": "<Pancontinental Oil Ltd> said\nit arranged a 10 mln dlr private financing with Pemberton\nHouston Willoughby Bell Gouinlock Inc.\n The private placement consists of special warrants to\npurchase seven pct convertible redeemable preferred shares.\n The shares will be convertible for five years into common\nshares at five dlrs per share. The preferred shares are not\nredeemable for 2-1/2 years. Net proceeds will be used to\nincrease working capital and finance exploration and\ndevelopment.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:30:36.41",
"places": [
"canada"
],
"id": "15018"
},
{
"title": "FEDERAL REALTY CONVERTIBLE INCREASED, PRICED",
"body": "Today's dollar convertible eurobond for\nFederal Realty Investment Trust has been increased to 100 mln\ndlrs from the initial 75 mln, lead manager Salomon Brothers\nInternational said.\n The coupon has been fixed at 5-1/4 pct compared with the\nindicated range of 5-1/4 to 5-1/2 pct. The conversion price has\nbeen fixed at 30-5/8 dlrs compared with last night's close in\nthe U.S. Of 25-1/2 dlrs. This represents a premium of 20 pct.\n The put option after seven years was priced at 120 pct to\ngive the investor a yield to the put of 7.53 pct.\n REUTER\n\u0003",
"date": " 8-APR-1987 10:30:58.28",
"places": [
"uk"
],
"id": "15019"
},
{
"title": "VOLKSWAGEN DIVIDEND DECISION DUE TOMORROW",
"body": "Volkswagen AG <VOWG.F>,\nVW, is due to make a formal announcement about its 1986\ndividend tomorrow after saying the 1985 level of 10 marks per\nordinary share would be held, despite massive losses because of\na suspected foreign currency fraud.\n A spokesman said VW's supervisory board will meet tomorrow\nto discuss the payout. A statement will be made afterwards.\n VW has also said disclosed profits for 1986 will reach\ntheir 1985 level, despite provisions of a possible 480 mln\nmarks linked to the currency affair. The figure is virtually\nthe same as the 477 mln mark 1985 parent company net profit.\n When VW first confirmed the currency scandal on March 10 it\nsaid the management board would propose an unchanged 10-mark\ndividend to the supervisory board. A dividend of 11 marks would\nbe proposed for the company's new preference shares.\n Share analysts said they saw supervisory board approval of\nthe management board proposal as virtually a formality.\n\"Anything else would be more than a surprise,\" one said.\n Company sources said VW would have to dig into reserves to\nmaintain the disclosed profit. Parent company reserves stood at\naround three billion marks at end-1985.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:34:45.43",
"topics": [
"earn"
],
"places": [
"west-germany"
],
"id": "15020"
},
{
"title": "TORONTO DOMINION UNIT ISSUES AUSTRALIAN DLR BOND",
"body": "Toronto Dominion Bank, Nassau Branch is\nissuing a 40 mln Australian dlr eurobond due May 15, 1990\npaying 14-1/2 pct and priced at 101-3/8 pct, lead manager\nHambros Bank Ltd said.\n The non-callable bond is available in denominations of\n1,000 Australian dlrs and will be listed in London. The selling\nconcession is one pct, while management and underwriting\ncombined will pay 1/2 pct.\n The payment date is May 15.\n REUTER\n\u0003",
"date": " 8-APR-1987 10:35:24.55",
"places": [
"uk"
],
"id": "15021"
},
{
"title": "TORONTO DOMINION UNIT ISSUES AUSTRALIAN DLR BOND",
"body": "Toronto Dominion Bank, Nassau Branch is\nissuing a 40 mln Australian dlr eurobond due May 15, 1990\npaying 14-1/2 pct and priced at 101-3/8 pct, lead manager\nHambros Bank Ltd said.\n The non-callable bond is available in denominations of\n1,000 Australian dlrs and will be listed in London. The selling\nconcession is one pct, while management and underwriting\ncombined will pay 1/2 pct.\n The payment date is May 15.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:36:31.07",
"places": [
"uk"
],
"id": "15022"
},
{
"title": "CITYTRUST BANCORP INC <CITR> 1ST QTR NET",
"body": "Shr 1.40 dlrs vs 1.16 dlrs\n Net 5,776,000 vs 4,429,000\n Avg shrs 4,132,828 vs 3,834,117\n Reuter\n\u0003",
"date": " 8-APR-1987 10:37:10.01",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15023"
},
{
"title": "SOUTHMARK <SM> ACQUIRES 28 NURSING HOMES",
"body": "Southmark Corp said it acquired 28\nlong-term care facilities containing for approximately 70 mln\ndlrs in cash.\n It said the facilities, which contain approximately 2,500\nbeds in seven western states, were bought from Don Bybee and\nAssociates, of Salem,Ore.\n The acquistion brings to 57 health care facilities acquired\nin the last three months, the company said.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:37:30.96",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15024"
},
{
"title": "HELEN OF TROY <HELE> FILES CONVERTIBLE OFFERING",
"body": "Helen of Troy Corp said it filed with\nthe Securities and Exchange Commission a registration statement\ncovering a 20 mln dlr issue of covertible subordinated\ndebentures due 2007.\n Proceeds will be used for general corporate purposes,\nincluding possible repayment of bank debt, product development\nand possible acquisitions, Helen of Troy said.\n The company named Drexel Burnham Lambert Inc as sole\nunderwriter of the offering.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:38:13.19",
"places": [
"usa"
],
"id": "15025"
},
{
"title": "J.P. MORGAN AND CO INC <JPM> 1ST QTR NET",
"body": "shr 1.22 dlrs vs 1.28 dlrs\n net 226.4 mln vs 233.9 mln\n assets 80.45 billion vs 70.23 billion\n loans 35.16 billion vs 35.99 billion\n deposits 45.22 billion vs 39.68 billion\n return on assets 1.14 pct vs 1.35 pct\n return on common equity 18.20 pct vs 22.08 pct\n NOTE: 1987 qtr net was reduced by 20 mln dlrs because 1.3\nbillion dlrs of loans to Brazil were placed on non-accrual.\n loan loss provision 35 mln dlrs vs 70 mln year earlier.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:38:19.91",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15026"
},
{
"title": "FIRSTBANC CORP OF OHIO <FBOH> 1ST QTR NET",
"body": "Shr 74 cts vs 67 cts\n Net 8,067,000 vs 7,317,000\n \n Reuter\n\u0003",
"date": " 8-APR-1987 10:38:37.99",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15027"
},
{
"title": "MAYFAIR SUPER MARKETS INC <MYFRA> 2ND QTR NET",
"body": "Qtr ends Feb 28\n Shr Class A 61 cts vs 48 cts\n Shr Class B 59 cts vs 46 cts\n Net 2,358,000 vs 1,876,000\n Revs 122,508,000 vs 105,871,000\n Six mths\n Shr Class A 1.15 dlrs vs 86 cts\n Shr Class B 1.13 dlrs vs 84 cts\n Net 4,485,000 vs 3,378,000\n Revs 242,453,000 vs 210,117,000\n NOTE: qtr and six mths prior figures reflect two-for-one\nstock split in August 1986.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:39:08.80",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15028"
},
{
"title": "HANOVER INSURANCE <HINS> GET SPLIT APPROVAL",
"body": "Hanover Insurance Co said its\nstockholders approved a two-for-one stock split.\n As a result of the split, Hanover said it increases the\nnumber of authorized shares of capital stock from 10.4 mln,\nhaving a par value of one dlr, to 20.9 mln, also having a par\nvalue of one dlr.\n The stock split is payable April 30 to stockholders of\nrecord April 10, Hanover said.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:39:16.52",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15029"
},
{
"title": "FEDERAL PAPERBOARD <FBO> ENTERS AGREEMENT",
"body": "Federal Paperboard Co Inc said it\nhas entered into an agreement with Ozaki Trading Co Ltd of\nOsaka, Japan, allowing Ozaki to represent Federal Paperboard's\nbleached paperboard sales in Japan.\n Federal added it will be opening an office in Japan in the\nnear future.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 10:39:22.31",
"places": [
"usa",
"japan"
],
"id": "15030"
},
{
"title": "NATIONAL GUARDIAN <NATG> MAKES ACQUISITIONS",
"body": "National Guardian Corp said it\nhas acquired a number of security services companies recently,\nwith aggregate revenues of about 3,500,000 dlrs, for an\naggregate cost of about 2,700,000 dlrs.\n It said it acquired guard service companies C.S.C. Security\nGaurd Service of Paramus, N.J., from Cartel Security\nConsultants Inc, the Guard Services Division of Security\nServices of America of Wayne, N.J., Capital Investigations and\nProtective Agency of Hackensack, N.J., and Meyer Detective\nAgency Inc of National Park, N.J.\n The company said it bought alarm service operations\nCertified Security Services Inc of Key West, Fla., Custom\nSecurity Services of Myrtle Beach, S.C., A-T-E Security Group\nInc of Houston and the Louisville, Kent and Nashville, Tenn,\noffices of Wells Fargo Alarm Services.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:39:29.93",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15031"
},
{
"title": "UNIVERSAL MEDICAL <UMBIZ> DISTRIBUTION SET",
"body": "Qtly distribution 7-1/2 cts vs 7-1/2 cts prior (excluding\n2-1/2 cts special)\n Pay April 30\n Record April 22\n NOTE: Full name is Universal Medical Buildings L.P.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:40:25.85",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15032"
},
{
"title": "ZAMBIA DOES NOT PLAN RETAIL MAIZE PRICE HIKE",
"body": "The Zambian government has no immediate\nplans to follow last week's increase in the producer price of\nmaize with a hike in the retail price of maize meal, an\nofficial of the ruling party said.\n Last December, a 120 pct increase in the consumer price for\nrefined maize meal, a Zambian staple, led to food riots in\nwhich at least 15 people died.\n That price increase, which President Kenneth Kaunda later\nrevoked, followed pressure by the International Monetary Fund\n(IMF) to reduce the government's subsidy bill.\n However, if the producer price rise, from 6.10 dlrs to 8.67\ndlrs per 90-kg bag, is not accompanied by a retail price\nincrease, the government will have to spend more on subsidies,\na practice discouraged by the IMF.\n \"There is no way out but to raise the subsidy levels of\nmeal. It (the government) would have to choose between the\ndemands of the IMF and those of the people,\" a Ministry of\nAgriculture economist said.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:43:34.24",
"topics": [
"grain",
"corn"
],
"organisations": [
"imf"
],
"places": [
"zambia"
],
"id": "15033"
},
{
"title": "BLOCKER ENERGY <BLK> SHARE OFFERING UNDERWAY",
"body": "Blocker Energy corp said an offering of\n20 mln common shares is underway at 2.625 dlrs per share\nthrough underwriters led by <Drexel Burnham Lambert Inc> and\nAlex. Brown and Sons Inc <ABSB>.\n The company is offering 19.7 mln shares and shareholders\nthe rest. Before the offering it had about 33.6 mln shares\noutstanding.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:45:27.04",
"places": [
"usa"
],
"id": "15034"
},
{
"title": "ASARCO <AR> COMPLETES SHARE OFFERING",
"body": "Asarco Inc said it completed the sale\nof four mln shares of Asarco common stock to an underwriting\ngroup led by First Boston Corp.\n The underwriters sold the shares to the public at a price\nof 22.50 dlrs a share, the minerals and energy company said.\n Proceeds of about 86 mln dlrs will be used to reduce\noutstanding debt, it said.\n The offering included 3.5 mln shares announced April 1 and\n500,000 to cover overallotments.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:45:36.01",
"places": [
"usa"
],
"id": "15035"
},
{
"title": "AMERICAN MIDLAND <AMCO> SETS OPERATOR FOR CASINO",
"body": "American Midland Corp\nsaid <Braodway Casinos Inc> has entered into a letter of intent\nfor a new company to be formed by <Carnival Cruise Lines Inc>\nand <Continental Hotel Cos> to operate Broadway's planned\nhotel/casino in the Marina area of Atlantic City, N.J.\n American Midland has agreed to spin off its 8.2 acre\nAtlantic City property to Broadway, a new company in which\nAmerican Midland shareholders would initially own an 85 pct\ninterest.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:45:44.23",
"places": [
"usa"
],
"id": "15036"
},
{
"title": "WEDGESTONE REALTY <WDG> ACQUISITION APPROVED",
"body": "Wedgestone Realty Investors Trust\nsaid shareholkders have approved the acquisition of its\nadvisor, Wedgestone Advisory Corp, for 600,000 shares.\n It said completion is expected to take place April 10.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:45:50.03",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15037"
},
{
"title": "SUN <SUN> CUTS HEATING OIL BARGE PRICE",
"body": "Sun Co's Sun Refining and Marketing Co\nsubsidiary said it is decreasing the price it charges contract\nbarge customers for heating oil in ny harbor by 0.50 cent a\ngallon, effective today.\n The 0.50 cent a gallon price reduction brings Sun's heating\noil contract barge price to 50 cts a gallon, the company said.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:51:43.03",
"topics": [
"heat"
],
"places": [
"usa"
],
"id": "15038"
},
{
"title": "MOODY'S AFFIRMS AVCO FINANCIAL'S LONG-TERM DEBT, CUTS COMMERCIAL PAPER\n",
"date": " 8-APR-1987 10:52:38.11",
"id": "15039"
},
{
"title": "MEDICAL JOURNAL REPORTS NEW INTERLEUKIN PROMISE",
"body": "Promising new findings in the use of\na controversial experimental drug called Interleukin-2 as a\ncure for cancer will be published in the April 9 issue of the\nprestigious New England Journal of Medicine, according to a\nWall Street analyst who has obtained an advance copy of the\nmagazine.\n Among interleukin's principal U. S. makers are Cetus Corp\n<CTUS>, headquartered in Emeryville, Calif., and Immunex Corp\n<IMNX>, based in Seattle, Wash.\n The journal, to be released late today, contains two\narticles reporting high remission rates several cancer types.\n The journal also contains a signed editorial concluding\nthat the new results mark a significant milestone in the search\nfor a successful immunotherapy for cancer.\n Interleukin-2, also known as IL-2, is a substance naturally\nproduced by living cells in the laboratory.\n The drug is controversial because it was widely praised as\na promising cancer treatment in early reports on its\neffectiveness in late 1985, only to come under criticism a year\nlater for its failure to live up to its promise and due to its\nravaging side effects.\n One of the new studies, conducted by Dr. William West of\nBiotherapeutics Inc of Franklin, Tenn., is particularly\nsignificant because it found far fewer harsh side effects after\nit changed the way in which the drug is administered.\n In that study, researchers administered IL-2 to 48 cancer\npatients and found a 50-pct remission rate for kidney cancers\nand a 50 pct remission rate for melanoma, a type of skin\ncancer, according to Prudential-Bache Securities' Stuart\nWeisbrod, who obtained the advance copy of the magazine.\n For rectal and colon cancer, the researchers found no\nremissions, but none of the 48 patients treated had side\neffects serious enough to be placed under intensive hospital\ncare, according to the article.\n In the second study, whose principal author is Dr. Steven\nRosenberg of the National Cancer Institute, researchers\nadministered IL-2 to 157 cancer patients and found a 33 pct\nremission rate in cancers of the kidney, a 27 pct rate in\nmelanomas and a 15 pct rate in cancers of the colon and rectum.\n In the National Cancer Institute trials, a total of four\npatients died, the magazine reported, confirming the harshness\nof the drug's side effects as originally administered.\n \"Perhaps we are at the end of the beginning of the search\nfor successful immunotherapy for cancer,\" said the editorial,\nsigned by John Durant of Philadelphia's Chase Cancer Center.\n \"These observations reported by Rosenberg and West surely\ndid not describe successful practical approaches ready for\nwidespread applications in the therapy of cancer patients,\" the\neditorial said.\n \"On the other hand, if they reflect, as seems possible, a\nsuccessful manipulation of the cellular immune system, then we\nmay be near the end of our search for a meaningful direction in\nthe immunuotherapy of cancer,\" the editorial concluded.\n Reuter\n\u0003",
"date": " 8-APR-1987 10:56:40.19",
"places": [
"usa"
],
"id": "15040"
},
{
"title": "REPORT SEEKS TO DISALLOW SOUTHERN <SO> COSTS",
"body": "An audit submitted to the Georgia\nPublic Service Commission claims that between 944 mln dlrs and\n1.8 billion dlrs of the costs of the Plant Vogtle nuclear power\nstation should be disallowed, a Southern Co spokeswoman said.\n Southern's Georgia Power Co subsidiary has a 45.7 pct\ninterest in the plant and estimated earlier this year it would\ncost a total of 8.87 billion dlrs. Last year, the plant's\nowners pledged to Georgia regulators they would limit the cost\npassed on to rate payers to 8.4 billion dlrs.\n The Southern spokeswoman said the company feels the report\nby O'Brien-Kreitzberg is \"flawed and biased.\" She said the\nreport was released yesterday by the state attorney general.\n Responding to the report today, Georgia Power Chairman\nRobert W. Scherer told a news conference the conclusions drawn\nby the firm \"are not only wrong -- they also reflect the same\nbias against nuclear power that these auditors have\ndemonstrated in similar cases accross the country.\"\n Saying he was not suggesting Georgia power was without\nfault, Scherer said \"the audit identified several things I wish\nwe had done differently.\"\n Scherer pointed out a report O'Brien-Kreitzberg submitted\nto Georgia regulators in March 1986 projected Georgia Power\nwould not finish Plant Vogtle unit one before the end of 1987.\n Noting \"unit one is finished, and we expect it to be in\ncommercial operationg by June,\" he said the firm's latest\nreport ignored the earlier projection, gave the utility no\ncredit for the completion and \"actually penalized us by\nsuggesting that costs to maintain t he schedule be disallowed.\"\n Scherer said the latest audit alleges Georgia Power could\nhave saved 95 mln dlrs if it had stopped using four shifts,\nseven days a week to speed construction three years sooner.\n He said this would have delayed completion of the plant for\nanother year \"and it would have cost several hunderd million\ndlrs more.\"\n Noting the audit said costs were increased 600 mln dlrs by\nschedule delays totaling 20.5 months, he said \"First, we have\nthe best concrete placement record in the industry, Second new\ngovernment regulations after the Three Mile Island incident\nsignificantly increased construction time.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 10:58:23.92",
"places": [
"usa"
],
"id": "15041"
},
{
"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 10:58:52.50",
"places": [
"uk"
],
"id": "15042"
},
{
"title": "FURTHER ARGENTINE COARSE GRAIN LOSSES FEARED",
"body": "Argentine grain producers adjusted\ntheir yield estimates for the 1986/87 coarse grain crop\ndownward in the week to yesterday after the heavy rains at the\nend of March and beginning of April, trade sources said.\n They said sunflower, maize and sorghum production estimates\nhad been reduced despite some later warm, dry weather, which\nhas allowed a return to harvesting in some areas.\n However, as showers fell intermittently after last weekend,\nproducers feared another spell of prolonged and intense rain\ncould cause more damage to crops already badly hit this season.\n Rains in the middle of last week reached an average of 27\nmillimetres in parts of Buenos Aires province, 83 mm in\nCordoba, 41 in Santa Fe, 50 in Entre Rios and Misiones, 95 in\nCorrientes, eight in Chaco and 35 in Formosa.\n There was no rainfall in the same period in La Pampa.\n Producers feared continued damp conditions could produce\nrotting and lead to still lower yield estimates for all the\ncrops, including soybean.\n However, as the lands began drying later in the week\nharvesting advanced considerably, reaching between 36 and 40\npct of the area sown in the case of sunflower.\n Deterioration of the sunflower crop evident in harvested\nmaterial in Cordoba, La Pampa and Buenos Aires forced yield\nestimates per hectare to be adjusted down again.\n The season's sunflowerseed production is now forecast at\n2.1 mln to 2.3 mln tonnes, against 2.2 mln to 2.4 mln forecast\nlast week and down 43.9 to 48.8 pct on the 1985/86 record of\n4.1 mln.\n Area sown to sunflowers was two to 2.2 mln hectares, 29.9\nto 36.3 pct below the record 3.14 mln hectares last season.\n Maize harvesting has also reached 36 to 40 pct of the area\nsown. It is near completion in Cordoba and Santa Fe and will\nbegin in La Pampa and southern Buenos Aires later in April.\n Production estimates for maize were down from last week at\n9.5 mln to 9.8 mln tonnes, against 9.6 mln to 9.9 mln estimated\npreviously.\n This is 22.2 to 23.4 pct below the 12.4 mln to 12.6 mln\ntonnes estimated by private sources for the 1985/86 crop and\n21.9 to 25.8 pct down on the official figure of 12.8 mln\ntonnes.\n Maize was sown on 3.58 mln to 3.78 mln hectares, two to\nseven pct down on last season's 3.85 mln.\n Sorghum was harvested on 23 to 25 pct of the area sown in\nCordoba, Santa Fe and Chaco. Harvest will start in La Pampa and\nBuenos Aires in mid-April.\n The total area sown was 1.23 mln to 1.30 mln hectares, 10.3\nto 15.2 pct down on the 1.45 mln sown last season.\n The new forecast for the sorghum crop is 2.9 mln to 3.2 mln\ntonnes compared with three mln to 3.3 mln forecast last week,\nand is 23.8 to 29.3 pct down on last season's 4.1 mln to 4.2\nmln tonne crop.\n The soybean crop for this season was not adjusted,\nremaining at a record 7.5 mln to 7.7 mln tonnes, up 4.2 to 5.5\npct on the 7.2 mln to 7.3 mln estimated by private sources for\n1985/86 and 5.6 to 8.5 pct higher than the official figure of\n7.1 mln.\n The area sown to soybeans this season was a record 3.7 mln\nto 3.8 mln hectares, 10.8 to 13.8 pct up on the record 3.34 mln\nsown in 1985/86.\n The soybean crop is showing excessive moisture in some\nareas and producers fear they may discover more damage. Some\nexperimental harvesting was carried out in Santa Fe on areas\nmaking up only about one pct of the total crop but details on\nthis were not available.\n Preparation of the fields for the 1987/88 wheat crop, which\nwill be sown between May and August or September, has so far\nnot been as intense as in previous years.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:00:51.15",
"topics": [
"grain",
"corn",
"sorghum",
"sunseed",
"wheat",
"oilseed",
"soybean"
],
"places": [
"argentina"
],
"id": "15043"
},
{
"title": "TOP OFFICIALS ARRIVE AT U.S. TREASURY TO BEGIN GROUP OF FIVE MEETING\n",
"date": " 8-APR-1987 11:04:45.96",
"id": "15044"
},
{
"title": "DUTCH ADJUSTED UNEMPLOYMENT RISES IN MARCH",
"body": "Dutch seasonally adjusted unemployment\nrose in the month to end-March to a total 693,000 from 690,600\nat end-February, but was well down from 730,100 at end-March\n1986, Social Affairs Ministry figures show.\n The figure for male jobless rose by 2,000 in the month to\n436,500 compared with 470,700 a year earlier. The figure for\nwomen was 256,500 at end-March against 256,100 a month earlier\nand 259,400 at end-March 1986.\n On an unadjusted basis total unemployment fell by 16,500 in\nthe month to end-March to 692,200. In March 1986 the figure was\n725,000.\n A ministry spokesman said the unadjusted figures showed a\nsmaller than usual seasonal decrease for the time of year,\nbecause of particularly cold weather delaying work in the\nbuilding industry. He said this explained the increase in the\nadjusted statistics.\n Total vacancies available rose by 1,900 to 26,300 at\nend-March. A year earlier the figure was 28,763.\n REUTER\n\u0003",
"date": " 8-APR-1987 11:05:28.33",
"topics": [
"jobs"
],
"places": [
"netherlands"
],
"id": "15045"
},
{
"date": " 8-APR-1987 11:06:39.06",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15046"
},
{
"title": "MOODY'S AFFIRMS AVCO UNIT'S LONG-TERM DEBT",
"body": "Moody's Investors Service Inc said it\naffirmed the long-term debt ratings but cut the commercial\npaper to Prime-2 from Prime-1 of Avco Financial Services Inc, a\nunit of Avco Corp.\n Avco Financial has 2.5 billion dlrs of debt outstanding.\n For the paper cut, Moody's cited a higher risk profile\ninherent in the company's core business. Moody's said the\naffirmation reflected its assessment of a less diversified risk\nprofile in the company's receivables.\n Affirmed were Avco Financial's A-3 senior debt, Baa-2\nsenior subordinated debt and Baa-3 junior subordinated debt.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:11:12.33",
"places": [
"usa"
],
"id": "15047"
},
{
"title": "TOP OFFICIALS ARRIVE AT TREASURY FOR G-5 TALKS",
"body": "Top officials of leading industrial\nnations arrived at the U.S. Treasury main building to begin a\nmeeting of the Group of Five.\n Officials seen arriving by Reuter correspondents included\nWest German Finance Minister Gerhard Stoltenberg and Bundesbank\nPresident Karl Otto Poehl, French Finance Minister Edouard\nBalladur and his central banker Jacques de Larosiere.\n Also seen arriving were Japanese Finance Minister Kiichi\nMiyazawa and Japan's central bank governor Satoshi Sumita and\nBritish Chancellor of the Exchequer and central bank governor\nRobin Leigh Pemberton.\n There was no immediate sign of Italian or Canadian\nofficials. Monetary sources have said a fully blown meeting of\nthe Group of Seven is expected to begin around 3 p.m. local\ntime (1900 gmt) and last at least until 6 p.m. (2200 gmt), when\na communique is expected to be issued.\n Italian sources said Italian acting Finance Minister\nGiovanni Goria met Treasury Secretary James Baker last night.\n At those talks Baker apparently convinced Goria, who\ndeclined to attend the February meeting of the Group of Seven\nin Paris, that Italy would participate fully in any meaningful\ndecisions.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:12:13.98",
"topics": [
"money-fx"
],
"places": [
"usa"
],
"id": "15048"
},
{
"title": "FED EXPECTED TO SET CUSTOMER REPURCHASES",
"body": "The Federal Reserve is expected to\nintervene in the government securities market to supply\ntemporary reserves indirectly via customer repurchase\nagreements, economists said.\n Economists expect the Fed to execute 2.0-2.5 billion dlrs\nof customer repos to offset pressures from the end of the\ntwo-week bank reserve maintenance period today. Some also look\nfor a permanent reserve injection to offset seasonal pressures\nvia an outright purchase of bills or coupons this afternoon.\n The Federal funds rate opened at 6-3/8 pct and remained at\nthat level, up from yesterday's 6.17 pct average.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:12:43.58",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "15049"
},
{
"title": "BEST BUY <BBUY> MARCH SALES RISE",
"body": "Best Buy Co Inc said its sales for\nMarch rose to 26.1 mln dlrs from 11.9 mln dlrs in the\ncomparable 1986 period.\n It said sales for the fiscal year ended March 31 rose to\n329.5 mln dlrs from 113.1 mln dlrs a year earlier.\n The company said sales performance was based on the\naddition of 12 new retail facilities.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:15:23.93",
"places": [
"usa"
],
"id": "15050"
},
{
"title": "AUTOSPA <LUBE> TO REDEEM WARRANTS",
"body": "AutoSpa corp said it will redeem all\nits common stock purchase warrants on May Five at 7.5 cts each.\n Through May Four, each warrant may be exercised into one\ncommon share at 1.75 dlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:15:28.57",
"places": [
"usa"
],
"id": "15051"
},
{
"title": "READER'S DIGEST ASSOCIATION SELLS UNIT",
"body": "<The Reader's Digest\nAssociation Inc> said it sold its subsidiary, Source\nTelecomputing Corp, to the venture capital firm of <Welsh,\nCarson, Anderson and Stowe>.\n The purchase price was not disclosed, Reader's Digest said.\n It said it purchased an 80 pct stake in Source in 1980 and\nearned an unspecified profit on 14 mln dlrs in revenues in\n1986.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:15:35.75",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15052"
},
{
"title": "WEIS MARKETS INC <WMK> 1ST QTR MARCH 28 NET",
"body": "Shr 59 cts vs 51 cts\n Net 18.0 mln vs 15.6 mln\n Revs 278.6 mln vs 272.2 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 11:15:38.86",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15053"
},
{
"title": "AVNET INC <AVT> FILES FOR DEBENTURE OFFERING",
"body": "Anvet Inc said it filed with the\nSecurities and Exchange Commission a registration statement for\na proposed public offering of 150 mln dlrs of convertible\nsubordinated debentures due 2012.\n Avnet said it will use the net proceeds for general working\ncapital purposes and the anticipated domestic and foreign\nexpansion of its distribution, assembly and manufacturing\nbusinesses.\n The company said an investment banking group managed by\nDillon Read and Co Inc will handle the offering.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:15:46.20",
"places": [
"usa"
],
"id": "15054"
},
{
"title": "CONTINENTAL BANK INITIAL DISTRIBUTION APPROVED",
"body": "Continental Bank of Canada said\nshareholders approved a capital reorganization to allow an\ninitial payout by the end of May to common shareholders from\nlast year's 200 mln Canadian dlr sale of most Continental\nassets to <Lloyds Bank PLC>'s Lloyds Bank Canada.\n The bank said the initial distribution would take the form\nof a stock dividend of cumulative redeemable retractable class\nA series two preferred shares entitling holders to monthly\nfloating rate dividends at 72 pct of prime and to 12.75 dlrs a\nshare on retraction.\n Continental said the initial payout was subject to Canadian\ngovernment approval.\n The bank reiterated that total distributions to common\nshareholders would range from 16.50 dlrs a share to 17.25 dlrs\nincluding the initial stock dividend and a final distribution\nin late 1988 or early 1989.\n The payout of existing preferred shareholders will be\ncompleted just before next month's initial distribution to\ncommon shareholders, Continental added.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 11:15:53.12",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15055"
},
{
"title": "ATLAS CONSOLIDATED MINING AND DEVELOPMENT <ACMB>",
"body": "4th qtr\n Shr loss 17 cts vs loss 22 cts\n Net loss 14.5 mln vs loss 18.0 mln\n Revs 27.3 mln vs 23.7 mln\n Year\n Shr 58 cts vs 1.01 dlrs\n Net loss 48.3 mln vs loss 84.2 mln\n Revs 111.7 mln vs 141.9 mln\n NOTE: Atlas Consolidated Mining and Development Corp of\nManila.\n Translated from Philippine pesos at 20.3489 pesos to dollar\nvs 18.5571 in quarter and 20.2315 vs 18.2743 in year.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:15:58.96",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15056"
},
{
"title": "FORD <F> EXTENDS INCENTIVES ON LIGHT TRUCKS",
"body": "Ford Motor Co said it extended\nits buyer incentive program on light trucks to April 30 from\nApril 6, the program's previous expiration date.\n Ford, which saw a 23 pct rise in its March truck sales over\nthe March 1986 level, said the incentives were extended to\n\"maintain its truck sales momentum.\"\n The program itself was not changed. Customers have a choice\nof 3.9 to 9.9 annual percentage rate financing or a cash rebate\nof 300 dlrs or 600 dlrs, depending on the type of transmission\nchosen.\n Ford last week extended to April 30 from March 12 its\nincentive program on its compact trucks and the Ford Taurus and\nMercury Sable cars.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:16:31.73",
"places": [
"usa"
],
"id": "15057"
},
{
"title": "FAO REPORTS BETTER CROPS IN DEVELOPING COUNTRIES",
"body": "World output of staple foods maintained\ngrowth in 1986, following a record harvest the year before, and\nmost of the increase was in developing countries, the director\ngeneral of the U.N.'s Food and Agriculture Organisation (FAO)\nsaid.\n Speaking to FAO's committee on world food security, Edouard\nSaouma said sub-Saharan Africa registered a cereal production\nincrease of 3.6 pct in 1986 and the Far East also continued to\nincrease production.\n Despite ample supplies worldwide, many countries face\nproblems in paying for all the food they need, he said.\n Saouma said many of the developing world's food problems\nwere the result of \"chaotic\" world trade.\n He said it was vital to promote employment to improve the\n\"food-security situation\" of the poor, with policy reforms in\ndeveloping countries to remove existing disincentives to\nproduction so that agriculture could play a greater role in\nstimulating economic growth.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:16:47.23",
"organisations": [
"fao"
],
"places": [
"italy"
],
"id": "15058"
},
{
"title": "AVX CORP <AVX> FILES FOR DEBENTURE OFFERING",
"body": "AVX Corp said it has filed a\nregistration statement with the Securities and Exchange\nCommission for a proposed public offering of 75 mln dlrs\nprinicipal amount of convertible subordinated debentures.\n AVX said a syndicate managed by Shearson Lehman Brothers\nInc will underwrite the offering.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:16:54.96",
"places": [
"usa"
],
"id": "15059"
},
{
"title": "SCI-MED <SMLS> BOARD AGREES TO BRISTOL<BMY>DEAL",
"body": "Sci-Med Life Systems Inc said\nits directors approved a previously proposed agreement of\nmerger with Bristol-Myers Co.\n The proposed transaction is subject to completion of a due\ndiligence investigation, including a review by Bristol-Myers of\na patent infringement suit served on Sci-Med by Advanced\nCardiovascular Systems Inc on March 31, 1987.\n Bristol-Myers has the right to call off the agreement under\ncertain circumstances, it said.\n Sci-Med said it continues to believe the patent suit is\nwithout merit.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:17:19.96",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15060"
},
{
"title": "FIDELCOR <FICR> COMPLETES SALE OF UNIT",
"body": "Fidelcor Inc said it has completed\nthe sale of its Industrial Valley Title Insurance Co subsidiary\nto a group of investors including the unit's management for\nundisclosed terms.\n Industrial Valley has assets of about 37.6 mln dlrs and was\nacquired last year along with IVB Financial Corp.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:18:14.40",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15061"
},
{
"title": "DATA TRANSLATION INC <DATX> 1ST QTR FEB 28 NET",
"body": "Shr 18 cts vs 13 cts\n Net 575,000 vs 379,000\n Sales 6,625,000 vs 4,537,000\n Avg shrs 3,173,000 vs 2,977,000\n Reuter\n\u0003",
"date": " 8-APR-1987 11:18:20.11",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15062"
},
{
"title": "ENERGY/U.S. PETROCHEMICAL INDUSTRY",
"body": "Cheap oil feedstocks, the weakened U.S.\ndollar and a plant utilization rate approaching 90 pct will\npropel the streamlined U.S. petrochemical industry to record\nprofits this year, with growth expected through at least 1990,\nmajor company executives predicted.\n This bullish outlook for chemical manufacturing and an\nindustrywide move to shed unrelated businesses has prompted GAF\nCorp <GAF>, privately-held Cain Chemical Inc, and other firms\nto aggressively seek acquisitions of petrochemical plants.\n Oil companies such as Ashland Oil Inc <ASH>, the\nKentucky-based oil refiner and marketer, are also shopping for\nmoney-making petrochemical businesses to buy.\n \"I see us poised at the threshold of a golden period,\" said\nPaul Oreffice, chairman of giant Dow Chemical Co <DOW>, adding,\n\"There's no major plant capacity being added around the world\nnow. The whole game is bringing out new products and improving\nthe old ones.\"\n Analysts say the chemical industry's biggest customers,\nautomobile manufacturers and home builders that use a lot of\npaints and plastics, are expected to buy quantities this year.\n U.S. petrochemical plants are currently operating at about\n90 pct capacity, reflecting tighter supply that could hike\nproduct prices by 30 to 40 pct this year, said John Dosher,\nmanaging director of Pace Consultants Inc of Houston. Demand\nfor some products such as styrene could push profit margins up\nby as much as 300 pct, he said.\n Oreffice, speaking at a meeting of chemical engineers in\nHouston, said Dow would easily top the 741 mln dlrs it earned\nlast year and predicted it would have the best year in its\nhistory.\n In 1985, when oil prices were still above 25 dlrs a barrel\nand chemical exports were adversely affected by the strong U.S.\ndollar, Dow had profits of 58 mln dlrs. \"I believe the entire\nchemical industry is headed for a record year or close to it,\"\nOreffice said.\n GAF chairman Samuel Heyman estimated that the U.S. chemical\nindustry would report a 20 pct gain in profits during 1987.\nLast year, the domestic industry earned a total of 13 billion\ndlrs, a 54 pct leap from 1985.\n The turn in the fortunes of the once-sickly chemical\nindustry has been brought about by a combination of luck and\nplanning, said Pace's John Dosher.\n Dosher said last year's fall in oil prices made feedstocks\ndramatically cheaper and at the same time the American dollar\nwas weakening against foreign currencies. That helped boost\nU.S. chemical exports.\n Also helping to bring supply and demand into balance has\nbeen the gradual market absorption of the extra chemical\nmanufacturing capacity created by Middle Eastern oil producers\nin the early 1980s.\n Finally, virtually all major U.S. chemical manufacturers\nhave embarked on an extensive corporate restructuring program\nto mothball inefficient plants, trim the payroll and eliminate\nunrelated businesses. The restructuring touched off a flurry of\nfriendly and hostile takeover attempts.\n GAF, which made an unsuccessful attempt in 1985 to acquire\nUnion Carbide Corp <UK>, recently offered three billion dlrs\nfor Borg Warner Corp <BOR>, a Chicago manufacturer of plastics\nand chemicals. Another industry powerhouse, W.R. Grace <GRA> \nhas divested its retailing, restaurant and fertilizer\nbusinesses to raise cash for chemical acquisitions.\n But some experts worry that the chemical industry may be\nheaded for trouble if companies continue turning their back on\nthe manufacturing of staple petrochemical commodities, such as\nethylene, in favor of more profitable specialty chemicals that\nare custom-designed for a small group of buyers.\n \"Companies like DuPont <DD> and Monsanto Co <MTC> spent the\npast two or three years trying to get out of the commodity\nchemical business in reaction to how badly the market had\ndeteriorated,\" Dosher said. \"But I think they will eventually\nkill the margins on the profitable chemicals in the niche\nmarket.\" Some top chemical executives share the concern.\n \"The challenge for our industry is to keep from getting\ncarried away and repeating past mistakes,\" GAF's Heyman\ncautioned. \"The shift from commodity chemicals may be\nill-advised. Specialty businesses do not stay special long.\"\n Houston-based Cain Chemical, created this month by the\nSterling investment banking group, believes it can generate 700\nmln dlrs in annual sales by bucking the industry trend.\n Chairman Gordon Cain, who previously led a leveraged buyout\nof Dupont's Conoco Inc's chemical business, has spent 1.1\nbillion dlrs since January to buy seven petrochemical plants\nalong the Texas Gulf Coast.\n The plants produce only basic commodity petrochemicals that\nare the building blocks of specialty products.\n \"This kind of commodity chemical business will never be a\nglamorous, high-margin business,\" Cain said, adding that demand\nis expected to grow by about three pct annually.\n Garo Armen, an analyst with Dean Witter Reynolds, said\nchemical makers have also benefitted by increasing demand for\nplastics as prices become more competitive with aluminum, wood\nand steel products. Armen estimated the upturn in the chemical\nbusiness could last as long as four or five years, provided the\nU.S. economy continues its modest rate of growth.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:18:37.67",
"topics": [
"pet-chem",
"crude",
"acq",
"earn"
],
"places": [
"usa"
],
"id": "15063"
},
{
"title": "FEDERAL PAPER BOARD <FBO> IN MARKETING DEAL",
"body": "Federal Paper Board Co Inc said\nit has named Ozaki Trading Co Ltd of Osaka to represent it it\nJapan on the sale of bleached paperboard.\n Federal said it plans to open its own Japanese office in\nthe near future.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:20:27.61",
"places": [
"usa"
],
"id": "15064"
},
{
"title": "FIDATA CORP <FID> 4TH QTR LOSS",
"body": "Shr loss two cts vs profit 38 cts\n Net loss 90,000 vs profit 1,685,000\n Revs 1,826,000 vs 29.3 mln\n Year\n Shr profit 3.37 dlrs vs profit 46 cts\n Net profit 15.0 mln vs profit 2,047,000\n Revs 26.2 mln vs 123.6 mln\n NOTE: Net includes pretax securities sale gain 10,000 dlrs\nvs loss 1,000 dlrs in quarter and gain 486,000 dlrs vs loss\n112,000 dlrs in year.\n Net includes pretax gains on sale of businesses of nil vs\n4,656,000 dlrs in quarter and 26.0 mln dlrs vs 4,656,000 dlrs\nin year.\n Net includes pretax losses on disposition of product line\nof nil vs 3,150,000 dlrs in quarter and 3,300,000 dlrs vs\n3,150,000 dlrs in year.\n Quarter net includes tax credits of 102,000 dlrs vs 736,000\ndlrs.\n Net includes reversal of tax loss carryforwards of 259,000\ndlrs vs 264,000 dlrs in quarter and tax loss carryforwards of\n8,635,000 dlrs vs 579,000 dlrs in year.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:21:05.09",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15065"
},
{
"title": "CMS <ACMS> UNVEILS FIRST IBM SYSTEM/2 ADD ONS",
"body": "CMS Enhancements Inc said it has\nintroduced the first add-on mass storage products for the new\nInternational Business Machines Corp <IBM> IBM Personal\nSystem/2 Model 30 personal computers.\n CMS said the products are available immediately and include\nhard disk drives, tape backup subsystems and a hard disk drive\non an expansion card.\n It added it plans to introduce more products for higher-\nend models of the IBM personal computers within the next two\nmonths.\n Prices for the new products range from 795 dlrs for a tape\nbackup subsystem, to 5,695 dlrs for a mass storage subsystem.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:21:19.09",
"places": [
"usa"
],
"id": "15066"
},
{
"title": "MARBLE FINANCIAL CORP <MRBL> 1ST QTR NET",
"body": "Oper shr 26 cts vs not given\n Oper net 866,000 vs 480,000\n NOTE: 1987 net excludes 157,000 dlr gain from termination\nof pension plan.\n Company went public in August 1986.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:21:24.56",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15067"
},
{
"title": "NANTUCKET <NAN> NAMES NEW HEAD FOR UNIT",
"body": "Nantucket Industries Inc said James\nAdams has been named president of its hosiery division,\nreplacing John Wineapple, and Terry Hampton has been named vice\npresident of manufacturing for the division, replacing Howard\nFromkin.\n No reason was given for the changes.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:22:35.93",
"places": [
"usa"
],
"id": "15068"
},
{
"title": "DOMINION TEXTILE CALLS REPORT OF BID FOR BURLINGTON RUMOR\n",
"date": " 8-APR-1987 11:23:52.75",
"topics": [
"acq"
],
"id": "15069"
},
{
"title": "RAYTHEON CO 1ST QTR SHR 1.37 DLRS VS 1.19 DLRS\n",
"date": " 8-APR-1987 11:25:35.47",
"topics": [
"earn"
],
"id": "15070"
},
{
"title": "FREEPORT <FTX> TO ACCRUE INTANGIBLE COSTS",
"body": "Freeport-McMoRan Inc said it\nhas decided to begin accruing a portion of its estimate of the\nintanmgible drilling and development cost recapture amount as a\ncost in determining payments to be made to Freeport-McMoRan Oil\nand Gas Royalty Trust <PMR> unitholders.\n Freeport said this is expected to reduce monthly payments\nby about two cts per unit starting with the distribution\npayable July 10 to holders of record May 29.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:26:59.29",
"places": [
"usa"
],
"id": "15071"
},
{
"title": "ATT <T> DEVELOPS SUPERCONDUCTING WIRE",
"body": "American Telephone and Telegraph Co said\nit has developed superconducting wires that can easily be\nformed into coils.\n It said when cooled to 91 degrees Kelvin, or 296 degrees\nbelow zero Fahrenheit, the wires conduct electricity without\nresistance.\n ATT said the wires are made of a barium-yttrium-copper\noxide compound. It said while many engineering details remain\nto be worked out, \"The ability to draw the material into fine\nwire and to wind the wire into coils and other forms is key for\nmany superconductor applications now being considered.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 11:27:37.43",
"places": [
"usa"
],
"id": "15072"
},
{
"title": "JAL BOEING CRASH CAUSED BY FAULTY REPAIRS-REPORT",
"body": "Faulty repair work by The Boeing Company\n<BA.N> was a contributary cause to a Japan Air Lines Co Ltd\n<JAPN.Y> 747 crash on August 12, 1985, that killed 520 people,\nthe final draft of a Ministry of Transport report says.\n There were only four survivors when the aircraft crashed\ninto a mountain north of Tokyo.\n The report said inadequate inspection of the aircraft by\nJapanese inspectors after the repairs was another factor in the\ncrash. The crew were cleared of any responsibility for the\ndisaster.\n The report, which was sent on March 23 to the U.S. National\nTransportation Safety Board for comment, should be released in\nlate May. Under an international convention the draft must be\nsubmitted for final comments to the relevant authorities.\n Boeing spokesmen were unavailable for comment. On April 4,\na Boeing spokesman at the firm's headquarters said the company\nwould probably make no comment on the Japanese investigation\nteam's report until it was officially released.\n On September 6, 1985, Boeing said in a statement that the\n1978 repairs it had undertaken were faulty. This statement did\nnot, however, connect the faulty repairs with the cause of the\ncrash.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:28:50.30",
"places": [
"japan"
],
"id": "15073"
},
{
"title": "FLEET FINANCIAL GROUP 1ST QTR SHR 73 CTS VS 60 CTS \n",
"date": " 8-APR-1987 11:28:55.26",
"topics": [
"earn"
],
"id": "15074"
},
{
"title": "MCI <MCIC> ENTERS JOINT MARKETING AGREEMENT",
"body": "<Shared Network Technologies Inc> said\nit entered into a cooperative marketing agreement with MCI\nCommunications Corp involving services designed specifically\nfor the university market.\n Under the agreement, the companies will jointly promote and\nsupport TelNet Plus, a combination of MCI's PRISM family of\nservices, and TelNet, Shared Network's telephone billing and\nnetwork management services, the company said.\n TelNet Plus keeps track of all calls made through a\nuniversity's telephone system, rates the calls and produces\nmonthly invoices for each student or departmental account,\nShared Network said.\n The system also offers a variety of reportes, which aid\ncollege telecommunications directors in controlling and\nmanaging their telephone systems, it added.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:30:02.86",
"places": [
"usa"
],
"id": "15075"
},
{
"title": "REYNOLDS <REYNA> FILES COUNTER SUIT",
"body": "Reynolds and Reynolds said that it\nfiled a coutersuit in the U.S. District Court in Detroit\nagainst Advanced Voice Technologies and that it denied all\nallegations in Advanced's March lawsuit against Reynolds.\n As previously reported, Advanced's suit charges Reynolds\nwith pirating a computer-based voice messaging system for auto\ndealer departments using confidential information it received\nwhile test marketing the system for Advanced.\n In the countersuit, Reynolds claimed that Advanced used its\nproprietary inofrmation contrary to an agreement between the\ncompanies.\n Reynolds also said Advanced interfered with its plans to\nenter the market and compete with Advanced through a public\nrelations campaign and other activities.\n Reynolds said its suit asked the court for injunctive and\nmonetary relief based on Advanced's activities.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:30:32.57",
"places": [
"usa"
],
"id": "15076"
},
{
"title": "DIEBOLD INC <DBD> DECLARES DIVIDEND",
"body": "Qtly div 30 cts vs 30 cts prior\n Pay June 8\n Record May 18\n Reuter\n\u0003",
"date": " 8-APR-1987 11:30:59.80",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15077"
},
{
"title": "INDEPENDENT BANK CORP <IBCP> REGULAR DIVIDEND",
"body": "Qtly div 10 cts vs 10 cts previously\n Pay April 20\n Record April 10\n Reuter\n\u0003",
"date": " 8-APR-1987 11:31:03.44",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15078"
},
{
"title": "RAYTHEON CO <RTN> 1ST QTR NET",
"body": "Shr 1.37 dlrs vs 1.19 dlrs\n Net 101.8 mln vs 92.3 mln\n Revs 1.750 billion vs 1.725 billion\n Avg shrs 74.2 mln vs 77.8 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 11:31:46.62",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15079"
},
{
"title": "LICENCE OF AUSTRALIAN FUTURES TRADER SUSPENDED",
"body": "The Victorian Corporate Affairs\nCommission, CAC, said it had suspended the futures trading\nlicence of G H Shintoh (Australia) Ltd after a receiver was\nappointed to the company's South Australian branch.\n The one month suspension followed consultation with the\nSydney Futures Exchange, SFE, which was liaising with Shintoh\nconcerning the open positions of its clients, the CAC said.\n The South Australian CAC had applied for the appointment of\na receiver and manager over the Adelaide office of Shintoh, an\nassociate member of the SFE, the CAC said.\n Shintoh's is the first licence suspended under a Futures\nIndustry Code introduced by Australian states from July 1,\n1986, SFE chief executive Les Hosking told Reuters.\n Asiavest Pty Ltd, a commodities futures trader associated\nwith Shintoh and incorporated in Queensland, was placed in\nreceivership earlier this year, he said.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:32:15.44",
"places": [
"australia"
],
"id": "15080"
},
{
"title": "SHOPSMITH <SHOP> REMOVES PRESIDENT",
"body": "Shopsmith Inc said its board has\nreleased Joseph DiGaicomo Jr. as president, but he will remain\non the board.\n The company said the post of president will not be filled\nat present.\n \"With very disappointing sales results during the quarter\njust ended, adjustments are appropriate,\" the company quoted\nchairman John R. Folkerth as saying.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:32:34.61",
"places": [
"usa"
],
"id": "15081"
},
{
"title": "WALTHAM SAVINGS BANK <WLBK> INITIAL DIVIDEND",
"body": "Qtly div eight cts vs N.A.\n Payable May 11\n Record April 24\n Reuter\n\u0003",
"date": " 8-APR-1987 11:32:38.58",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15082"
},
{
"title": "EASTMAN KODAK ISSUES AUSTRALIA DOLLAR BOND",
"body": "Eastman Kodak Co is issuing a 200 mln\nAustralian dlr zero-coupon bond due May 12, 1992 and priced at\n54-3/8 for an effecitve yield of 13.52 pct, said Merrill Lynch\nCapital Markets as lead manager.\n The securities, which are available in denominations of\n1,000 and 10,000 dlrs, will be listed on the Luxembourg Stock\nExchange. Eastman Kodak's outstanding issues are rated AAA/AA.\n There is a 7/8 pct selling concession and 1/2 pct combined\nmanagement and underwriting fee. Payment is due May 12, 1987.\n REUTER\n\u0003",
"date": " 8-APR-1987 11:32:50.63",
"places": [
"uk"
],
"id": "15083"
},
{
"title": "TEXACO <TX> RECOMMENDED BY FIRST BOSTON",
"body": "First Boston Corp analyst William\nRandol recommended the purchase of Texaco Inc today, saying\n\"the discount that investors have made in the share price to\nreflect the ongoing litigation with Pennzoil has been overdone\nrelative to how we expect the case to conclude.\"\n Texaco's stock rose 1/8 to 34-1/8.\n On Monday, the stock tumbled four points after the Supreme\nCourt overturned a lower court decision that cut Texaco's bond\nin the 10.3 billion dlr legal dispute with Pennzoil Co <PZL> to\none billion dlrs. Yesterday, a Texas court granted a temporary\ninjunction on the bond issue pending a hearing next week.\n The current litigation arose from Texaco's buyout of Getty\nOil Co in 1984. Pennzoil sued, arguing its earlier agreement to\nbuy Getty was binding. Two Texas state courts upheld Pennzoil's\nposition.\n Randol, noting that the stock has suffered a great deal in\nthe two years since the litigation was filed, said \"we\nrecognize the legal problems but think investors have overdone\nit.\"\n He said \"the stock is selling at 48 pct of its asset value,\nand we think it represents a good value at this level.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 11:34:23.10",
"places": [
"usa"
],
"id": "15084"
},
{
"title": "PHILIPS SEES HIGHER FIRST QUARTER TURNOVER",
"body": "NV Philips\nGloielampenfabrieken <PGLO.AS> expects volume turnover to show\n\"a satisfactory increase\" in the first 1987 quarter, chairman Cor\nvan der Klugt told the annual shareholders meeting.\n But an average dollar rate of only 2.07 guilders against\nthe 2.69 guilders in the first quarter of 1986 would take\nturnover for January to March this year in guilder terms to\nless than the 13.06 billion guilders posted in the comparable\n1986 period.\n He said all the first quarter figures were not yet\navailable and would be released on April 29.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:36:41.75",
"places": [
"netherlands"
],
"id": "15085"
},
{
"title": "DATA I/O <DAIO> HAS SOFTWARE FOR MOSAIC SYSTEMS",
"body": "Data I/O Corp said it unveiled a\nsoftware package that helps engineers design complex integrated\ncircuits that fit on circuit boards built by <Mosaic Systems\nInc>.\n It said the Mosaic boards allow engineers to develop the\ncircuits at one-tenth their present size. The software will be\nmarketed in conjuction with the circuit boards, the company\nsaid.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:36:49.46",
"places": [
"usa"
],
"id": "15086"
},
{
"title": "PHOTOGRAPHIC SCIENCES <PSXX> FORMS NEW UNIT",
"body": "Photographic Sciences Corp said\nit has formed a new Metrology Division for the production and\nmarketing of surface profiler measurement equipment.\n It said the equipment, a new market area, should add\nsignificantly to company revenues in the next few years.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:37:17.20",
"places": [
"usa"
],
"id": "15087"
},
{
"title": "MERCK <MRK> COMBINATION HEART DRUG AVAILABLE",
"body": "Merck and Co Inc said a combination\nheart drug is available by prescription in the U.S.\n The drug is Vaseretic, a once-a-day medication combining an\nangiotensin converting enzyme inhibitor (ACE) and a diuretic to\ntreat high blood pressure. The inhibitor is a new class of\nantihypertensive drugs. Last year Merck introduced Vasotec, an\nACE inhibitor.\n The new drug combined Vasotec and HydroDiuril, a frequently\nprescribed diuretic.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:37:25.85",
"places": [
"usa"
],
"id": "15088"
},
{
"title": "U.K. SEEKS MORE GLOBAL SECURITIES CO-OPERATION",
"body": "Britain intends to negotiate further\nagreements on international securities regulation to match\nthose now in force with the U.S. And Japan, government sources\nsaid.\n The Department of Trade and Industry said earlier it had\nconcluded a memorandum of understanding with Japan's Finance\nMinistry to swap supervisory and investigatory information.\n The agreement covers stocks, shares and government bonds,\nbut not commodity futures, whose regulation in Japan does not\ncome under the Finance Ministry. It therefore does not cover\nsome transactions on the London International Financial Futures\nExchange and the London commodities and metal exchanges.\n The DTI said it hoped to seek further understandings with\nother countries which met in the U.K. Last December. The\nmeeting involved delegates from the U.K., Switzerland, the\nU.S., Canada, Australia, Hong Kong, Japan, France, West Germany\nand Holland.\n Government sources said the deal with Japan completes\narrangements linking Tokyo, the U.S. And London. A U.K.\nAgreement with the U.S. Securities and Exchange Commission\n(SEC) was signed last September.\n Today's agreement will deal with requests for information\non a \"case by case\" basis, U.K. Government sources said. It is\nnot legally binding and comes into force immediately.\n REUTER\n\u0003",
"date": " 8-APR-1987 11:37:36.20",
"places": [
"usa",
"uk",
"japan",
"switzerland",
"australia",
"hong-kong",
"france",
"canada",
"west-germany",
"netherlands"
],
"id": "15089"
},
{
"title": "FLEET FINANCIAL GROUP <FLT> 1ST QTR NET",
"body": "Shr primary 73 cts vs 60 cts\n Shr diluted 70 cts vs 58 cts\n Net 38,528,000 vs 31,680,000\n Avg shares 52,087,634 vs 51,294,652\n NOTE: Qtr net interest income is 130.7 mln dlrs vs 114.8\nmln dlrs. Earnings per share reflects two-for-one common stock\nsplit on March 15.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:38:26.83",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15090"
},
{
"title": "DOMINION CALLS BURLINGTON <BUR> REPORT RUMOR",
"body": "<Dominion Textile Inc> considers a\npublished report that it has bought a stake in Burlington\nIndustries Inc and is considering making a joint bid for the\ncompany to be a rumor, a company spokesman said.\n \"As far as I am concerned and the company is concerned, they\nare rumors and we're not commenting on rumors,\" spokesman Michel\nDufour told Reuters in response to a query.\n \"All the information that has been given out publicly is\nthat, yes, Dominion Textile is interested in making an\nacquisition that big...probably based on that people are\nstarting all sorts of rumors,\" he said.\n Dufour said yes when asked whether the report was only a\nrumor, but said the company was not prepared to comment\nfurther. Dominion Textile president and chairman Thomas Bell\nwas out of town and unavailable for comment.\n Dominion Textile last year made an unsuccesful 104-mln-\nU.S.-dlr bid for Avondale Mills and has maintained a 120-mln-\nU.S.-dlr line of credit to be used for an American acquisition.\n Dufour said the company has been negotiating with \"many\"\nU.S. textile companies but would not say whether Burlington\nIndustries was one of them.\n Burlington's stock rose sharply this morning on the report,\nwhich said Dominion Textile had joined with U.S. investor Asher\nEdelman to buy a stake in the company and to consider making a\ntakeover offer.\n Dominion Textile, which reported operating profit of 11.1\nmln Canadian dlrs last year on sales of 926.5 mln dlrs, has\nrepeatedly said it will concentrate on expanding into the U.S. \n The company has said it plans to diversify into new product\nand market areas in addition to expanding its textile\noperations.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:39:39.76",
"topics": [
"acq"
],
"places": [
"canada"
],
"id": "15091"
},
{
"title": "FED SETS OVERNIGHT SYSTEM REPURCHASES, FED SAYS\n",
"date": " 8-APR-1987 11:40:18.25",
"topics": [
"interest"
],
"id": "15092"
},
{
"title": "RAYTHEON <RTN> NET RISES ON OPERATIONS",
"body": "Raytheon said a 10 pct rise in\nits first quarter net to 101.8 mln dlrs reflected improved\noperations and a lower effective tax rate.\n The company said revenue gains in electronics, major\nappliances and other lines were offset by decreases in energy\nservices and aircraft products. Revenues in the quarter rose\n1.4 pct to 1.75 billion dlrs, it said.\n The company said backlog stood at 7.520 billion dlrs, down\nfrom 7.912 billion dlrs a year earlier. It said a five year\n3.55 billion dlr U.S. defense contract was awarded shortly\nafter the close of the first quarter.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:41:07.56",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15093"
},
{
"title": "GENERAL INSTRUMENT CORP <GRL> 4TH QTR LOSS",
"body": "Ended Feb 28\n Shr loss 2.80 dlrs vs profit 17 cts\n Net loss 90.5 mln vs profit 5,271,000\n Revs 240.9 mln vs 159.4 mln\n Year\n Shr loss 2.49 dlrs vs loss 2.07 dlrs\n Net loss 80.4 mln vs loss 66.5 mln\n Revs 787.9 mln vs 612.4 mln\n NOTE: Includes loss of 89.6 mln dlrs vs loss 14.5 mln dlrs\nin year and loss of 91.6 mln dlrs in current qtr from\ndiscontinued operations.\n 1986 qtr includes pretax gain of five mln dlrs from\nsettlement of litigation and tax gain of 5.1 mln dlrs from\nchange in estimated effective tax rate.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:41:46.36",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15094"
},
{
"title": "COCOA EXPORTERS EXPECTED TO LIMIT SALES",
"body": "Major cocoa exporters are likely to\nlimit sales in the weeks ahead in an effort to boost world\nprices, sources close to a meeting of the Cocoa Producers\nAlliance (CPA) said.\n The sources said the depressed world market had been one of\nthe main topics discussed in a closed door meeting of the\n11-member CPA which began on Monday.\n They said producers agreed that cutting sales would aid the\nbuffer stock manager of a new international cocoa pact in his\neffort to support prices.\n Major cocoa producing and consuming nations agreed\noperation rules for the buffer stock at a meeting in London\nlast month and the stock manager is expected to enter the\nmarket soon.\n Prices, under the weight of three successive cocoa\nsurpluses, recently fell to the level at which the manager has\nto buy cocoa under stock rules.\n The buffer stock aims to keep prices within a pre-set range\nby buying when prices fall and selling when they rise.\n \"The world's cocoa price at present is just not interesting,\"\ncommented one delegate representing a major CPA producer.\n Another source said that with much of the 1986/87\n(October-September) world cocoa crop sold, limiting sales in\nthe near term concerns essentially next year's harvest.\n The sources noted, however, that the cocoa industry in\nBrazil, the world's number two producer, is in private hands.\nThis means limiting sales is more difficult than in major West\nAfrican producers, where sales are made or authorized by\ncommodity marketing boards.\n The CPA includes the world's top three producers, Ivory\nCoast, Brazil and Ghana, and accounts for 80 pct of all output.\n The meeting here is due to end tomorrow evening.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:42:22.39",
"topics": [
"cocoa"
],
"places": [
"cameroon",
"brazil",
"ivory-coast",
"ghana"
],
"id": "15095"
},
{
"title": "FED ADDS RESERVES VIA OVERNIGHT REPURCHASES",
"body": "The Federal Reserve entered the U.S.\nGovernment securities market to arrange overnight System\nrepurchase agreements, a Fed spokesman said.\n Dealers said that Federal funds were trading at 6-3/8 pct\nwhen the Fed began its temporary and direct supply of reserves\nto the banking system.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:43:43.39",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "15096"
},
{
"title": "HONDURAS SEEKING PL-480 BULK WHEAT APRIL 13",
"body": "Honduras will tender April 13 under\nPublic Law 480 for approximately 52,500 tonnes of various\nwheats in bulk, an agent for the country said.\n The agent said Honduras is seeking U.S. no. 2 or better\nnorthern spring/DNS, with 14 pct protein minimum and 13 pct\nmoisture maximum, and U.S. no. 2 or better hard red winter,\nwith 12 pct protein minimum and 13 pct moisture maximum.\n The agent said NS/DNS laydays include July 1-10 for\n7,500-9,500 tonnes, Aug 1-10 for 8,000-10,000 tonnes, and Sept\n15-25 for 12,500-14,500 tonnes.\n HRW laydays include June 20-30 on 5,000-7,000 tonnes, July\n15-25 for 6,500-8,500 tonnes, and September 15-25 for\n7,000-9,000 tonnes.\n Offers are due by 1550 hrs EDT, April 13, and will remain\nvalid until 1000 hrs EDT, April 14, the agent said.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:45:03.17",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"honduras"
],
"id": "15097"
},
{
"title": "PAN AM <PN> BEGINS HIRING PILOTS",
"body": "Pan Am Corp's Pan Am World Airways said\nit began hiring pilots and flight engineers for the first time\nin 19 years.\n The need for about 130 to 150 new pilots has been created\nby the Pan AM shuttle, it said.\n Processing of applicants began March 30 and the first class\nof new-hire pilots will begin training on APril 15.\n Pan Am said it also completed the recall of more than 250\npilots. Most of the new hires will begin as flight engineers,\nbut as many as 50 will move directly into the first officer\nposition, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:45:58.32",
"places": [
"usa"
],
"id": "15098"
},
{
"title": "THERMWOOD <THM> EXTENDS DATE ON WARRANTS",
"body": "Thermwood Corp said it is extending\nthe expiration date of its 620,000 common stock warrants\nthrough Dec 31, 1987.\n It said the warrants to purchase one share of common stock,\nwhich have an exercise price of 3.00 dlrs, were to expire April\n11.\n The company noted that its stock price has more than\ndoubled since late last year and \"is now much closer to the\nexercise price of the warrants.\"\n Thermwood is trading at 1-7/8, off 1/8.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:47:10.42",
"places": [
"usa"
],
"id": "15099"
},
{
"title": "AMERIBANC <ABNK> SELLS CONVERTIBLE CAPITAL NOTES",
"body": "Ameribanc Inc is raising 15 mln dlrs\nthrough an offering of convertible subordinated capital notes\ndue 1995 with an eight pct coupon and par pricing, said lead\nmanager Stifel, Nicolaus and Co Inc.\n The debentures are convertible into the company's common\nstock at 18.75 dlrs per share, representing a premium of 27.1\npct over the stock price when terms on the debt were set.\n The issue is non-callable for two years. It was not rated\nby Moody's Investors or Standard and Poor's at the time of the\npricing, Stifel said. Burns, Pauli and Co Inc co-managed the\ndeal.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:48:03.92",
"places": [
"usa"
],
"id": "15100"
},
{
"title": "HIGHLAND SUPERSTORES <HIGH> MARCH SALES GAIN",
"body": "Highland Superstores Inc said its\nMarch sales rose to 50.6 mln dlrs from 47.4 mln dlrs a year\nago.\n On a comparable store basis, it said the sales decreased\nnine pct.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:48:10.23",
"places": [
"usa"
],
"id": "15101"
},
{
"title": "INVESTMENT TECHNOLOGIES <IVES> IN REBATE PACT",
"body": "Investment Technologies Inc said it\nwill make available its online investment advisory service to\n<Spear Securities Inc> customers.\n Investment Technologies said that through a Spear rebate\nprogram, purchasers of the investment advisory service, VESTOR,\ncan receive a cash rebate of up to the full subscription price\nof the investment advisory service from Spear Securities.\n Spear's brokerage commission rebate program will allow\nmoney managers or individual investors who purchase VESTOR from\nInvestment Technologies, or from other authorized distributors,\nto recive a rebate of the brokerage commissions, the company\nsaid.\n Each month Spear will send participating customers a check\nequal up to 25 pct of monthly commissions generated by the\nclient account, it added.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:49:10.65",
"places": [
"usa"
],
"id": "15102"
},
{
"title": "J.P. MORGAN <JPM> NET HURT BY BRAZIL, TRADING",
"body": "J.P. Morgan and Co Inc said its\nfirst-quarter earnings fell by 3.2 pct, largely reflecting its\npreviously announced decision to place on non-accrual status\nits 1.3 billion dlrs of medium- and long-term loans to Brazil.\n That decision, spurred by Brazil's suspension of interest\npayments on February 20, reduced the quarter's net income by 20\nmln dlrs to 226.4 mln dlrs, compared with 233.9 mln in the\nfirst three months of 1986.\n Morgan also reported a loss of 1.8 mln dlrs from securities\nunderwriting and trading, in contrast to a gain of 45.4 mln\ndlrs in the year-earlier period.\n In the fourth quarter of 1986, Morgan posted other trading\nlosses of 5.5 mln dlrs because of setbacks in the trading and\nunderwriting of Euromarket securities.\n Conditions in some sectors of the Euromarket remained\ndifficult last quarter, with floating rate notes suffering\nheavy price falls, but a spokeswoman was unable to say whether\nMorgan's trading losses were restricted to the Euromarket.\n On the positive side, Morgan reduced its provision for loan\nlosses to 35 mln dlrs from 70 mln a year earlier. Foreign\nexchange trading income rose to 82 mln dlrs from 72.6 mln and\ntrust income increased to 95.9 mln dlrs from 75.9 mln.\n Morgan said other operating income, mainly fees and\ncommissions, rose to 102.2 mln dlrs from 88.4 mln, but net\ninvestment securities gains dropped to 43.1 mln from 58.1 mln.\n Net interest earnings were 490.4 mln dlrs in the first\nquarter, down from 499.4 mln a year earlier, and net yield fell\nto 2.79 pct from 3.20 pct.\n If Brazil had not been placed on non-accrual, which means\nthat interest can be recorded as income only when payments are\nactually received, net interest earnings would have been 525.9\nmln dlrs and net yield 2.99 pct. If Brazil does not resume\npayments, 1987 net would be cut by 72 mln dlrs, Morgan added.\n After the provision for loan losses, Morgan's allowance for\ncredit losses at the end of March totaled 953 mln dlrs compared\nwith 910 mln at end-1986 and 815 mln a year earlier.\n It reported net recoveries of six mln dlrs after\ncharge-offs of eight mln, compared with net charge-offs of 49\nmln dlrs after recoveries of three mln a year earlier.\n Excluding Brazil, non-accruing loans at quarter's end were\n583 mln dlrs, down from 633 mln at end-1986 and 684 mln a year\nearlier. Non-interest expenses rose to 371.1 mln dlrs from\n303.5 mln dlrs, with more than half the increase related to\npersonnel costs, Morgan said.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:49:48.95",
"topics": [
"earn"
],
"places": [
"usa",
"brazil"
],
"id": "15103"
},
{
"title": "ATLAS CONSOLIDATED MINING <ACMB> 4TH QTR",
"body": "Shr loss 17.3 cts vs 21.5 cts\n Net loss 14.5 mln vs loss 18.0 mln\n Revs 27.3 mln vs 23.7 mln\n Year\n Shr loss 58 cts vs loss 1.01 dlrs\n Net loss 48.3 mln vs loss 84.2 mln\n Revs 111.7 mln vs 141.9 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 11:50:14.65",
"topics": [
"earn"
],
"places": [
"philippines"
],
"id": "15104"
},
{
"title": "AVNET <AVT> FILES CONVERTIBLE DEBT OFFERING",
"body": "Avnet Inc said it filed with the\nSecurities and Exchange Commission a registration statement\ncovering a 150 mln dlr issue of convertible subordinated\ndebentures due 2012.\n Proceeds will be used for general working capital and the\nanticipated domestic and foreign expansion of Avnet's\nbusinesses, the company said.\n Avnet named Dillon, Read and Co Inc as manager of the\noffering.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:50:30.11",
"places": [
"usa"
],
"id": "15105"
},
{
"title": "BRAZIL GRAIN HARVEST FACES STORAGE PROBLEMS",
"body": "Storage problems with Brazil's record\ngrain crop are likely to result in losses of about five mln\ntonnes, an Agriculture Ministry spokesman said.\n Ministry spokesman Leonardo Brito, speaking from Brasilia,\ntold Reuters he believed that about five mln tonnes of this\nyear's estimated crop of 65 mln tonnes would be lost.\n He said part of this would be the normal loss inevitable in\nharvesting, but that most of it would stem from storage\nproblems.\n Brazil has a storage capacity of 66 mln tonnes,\ntheoretically sufficient for the crop.\n But Brito said that the storage capacity was badly\ndistributed. The states of Sao Paulo, Parana and Rio Grande do\nSul had between them 70 pct of the nation's capacity, but were\nresponsible for only 50 to 60 pct of production.\n The biggest problems are concentrated in the Centre-West\ngrowing regions, where rising production has outpaced storage\ncapacity.\n Brito said the Centre-West, whose crops include soya and\nmaize, had between 30 and 40 pct of the nation's grains\nproduction but only 20 pct of its storage space.\n In addition to the poor distribution of storage units,\nthere is the problem that too much of the capacity is geared to\nstoring grain in sacks, while not enough is suitable for\nstoring loose grain, Brito said.\n Finally, there is a shortage of lorries to transport the\ncrops.\n The sheer scale of the task in transporting the record crop\nhas been evident from television reports, which have shown\nenormous queues of lorries waiting outside granaries.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:51:17.60",
"topics": [
"grain",
"corn",
"oilseed",
"soybean"
],
"places": [
"brazil"
],
"id": "15106"
},
{
"title": "FLEET <FLT> SHAREHOLDERS APPROVE SHARE INCREASE",
"body": "Fleet Financial Group said its\nshareholders approved an increase in shares of the company's\nauthorized common stock to 100,000,000 shares from 75,000,000\nshares currently.\n The company said shareholders approved the move at the\nannual meeting in Providence today when the company reported\nthat its first quarter earnings rose to 38.5 mln dlrs, or 73\ncts a share, from 31.7 mln dlrs, or 60 cts a share, in the\nfirst quarter 1986.\n J. Terence Murray, chairman and president of Fleet\nFinancial, said, \"Fleet's mortgage banking activities in\nparticular continued to produce signficant income increases (in\nthe first quarter).\"\n Murray said Fleet's mortgage servicing portfolio reached\n22.1 billion dlrs by March 31, including 1.8 billion dlrs\npurchased in March.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:52:21.75",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15107"
},
{
"title": "GM <GM> UNIT OFFERS 500 MLN DLRS OF NOTES",
"body": "General Motors Acceptance Corp, a unit\nof General Motors Corp, is raising 500 mln dlrs via offerings \nof 300 mln dlrs of notes due 1990 and 200 mln dlrs of notes due\n1994, said lead manager Merrill Lynch Captial Markets.\n The three-year notes have a 7-1/4 pct coupon and were\npriced at 99.682 to yield 7.37 pct, or 52 basis points over\ncomparable Treasury securities.\n The seven-year notes were priced at 99.473 with an eight\npct coupon to yield 8.10 pct, or 71 points over Treasuries.\n Both issues are non-callable for life and are rated AA-1 by\nMoody's Investors and AA by Standard and Poor's.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:54:03.94",
"places": [
"usa"
],
"id": "15108"
},
{
"title": "ROWE FURNITURE CORP <ROWE> 1ST QTR FEB 28",
"body": "Shr 42 cts vs 35 cts\n Net 854,000 vs 839,000\n Revs 23.2 mln vs 21.9 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 11:55:09.32",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15109"
},
{
"title": "REUTERS CHAIRMAN URGES FREER INFORMATION FLOWS",
"body": "Exchanges and telecommunications\nauthorities should abolish their restrictions on full and free\ndissemination of information to the investment and banking\ncommunities, Reuters Holdings Plc <RTRS.L> chairman Sir\nChristopher Hogg said.\n In the 1986 annual repoprt, he said lengthy negotiations\nhad brought agreement with the Tokyo and London Stock Exchanges\nfor fuller, but still not complete, access to market data\nthrough Reuter services.\n \"Many other markets maintain restrictions,\" he added.\n Hogg said members of some markets appear to believe that\ninformation restrictions protected their interests.\n In other cases, exchanges seem to be limiting the\ndistribution of data in order to provide competitive advantage\nto their own commercial information businesses.\n He also noted that despite increasing liberalisation in the\ntelecommunications field, some countries continue to protect\ntheir state monopolies at the expense of other economic\nsectors.\n \"Reuter dealing services remain excluded from such\ncountries. As a result, banking communities serving entire\neconomies are put at a competitive disadvantage,\" he added.\n Reuters increased its 1986 pre-tax profit by 39 pct from\nthe previous year to 130.1 mln stg on a 43 pct rise in revenues\nto 620.9 mln stg.\n Earnings per ordinary share were up 47 pct to 19.4p. The\nannual shareholder meeting will be held in London on April 29.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:55:55.71",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "15110"
},
{
"title": "CCL INDUSTRIES PURCHASES STAKE IN MONOBLOC",
"body": "<CCL Industries Inc> said it purchased a\nmajority interest in Monobloc U.S.A. from Envases Metalurgicos\nde Alava of Spain.\n Terms were not disclosed.\n CCL also said it agreed to exchange present and future\ntechnology with Envases.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:56:47.48",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15111"
},
{
"title": "PARIS GROUP PUBLISHING DAILY FRANC TIN PRICE",
"body": "The Association of White Metals has\ndecided to publish a daily tin price here in French francs per\n100 kilos, the French Federation of Non-Ferrous Metals said.\n The price, quoted for the first time yesterday, was\nintroduced as the lack of tin quotes was causing problems for\nsome French companies, a spokesman for the non-ferrous metals\nassociation said.\n Today's price was set at 4,776 francs per 100 kilos and\nTuesday's at 4,790.\n The International Chamber of Commerce stopped publishing a\ntin price after the London Metal Exchange (LME) stopped tin\ntrading on October 24, 1985.\n The Association has tested the basis it uses to calculate a\nFrench franc price over the last few months to ensure it was\nreliable, the spokesman said.\n The French franc price is pre-tax, for specified quality, a\nminimum 99.9 pct purity, at a French port or border railway\nstation and a minimum delivery of 10 tonnes.\n The French Federation of Non-Ferrous Metals groups various\nmetal associations including the Association of White Metals.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:57:00.36",
"topics": [
"tin"
],
"places": [
"france"
],
"id": "15112"
},
{
"title": "AVX <AVX> FILES TO OFFER CONVERTIBLE DEBENTURES",
"body": "AVX Corp said it filed with the\nSecurities and Exchange Commission a registration statement\ncovering a 75 mln dlr issue of convertible subordinated\ndebentures.\n The company named Shearson Lehman Brothers Inc as manager\nof the offering.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:58:13.58",
"places": [
"usa"
],
"id": "15113"
},
{
"title": "SHAD WANTS INSIDER TRADING DEFINITION",
"body": "Securities and Exchange Commission\nJohn Shad said he wanted Congress to write a better definition\nof insider trading but thought action should wait until the\nSupreme Court ruled on an insider trading case.\n \"I'd like the benefit of the Winans decision before\ndeciding on a definition,\" Shad told a Senate Appropriations\nsubcommittee hearing.\n Shad was refering to the appeal by former Wall Street\nJournal reporter R. Foster Winans of his conviction on insider\ntrading charges for telling a friend in advance what stocks he\nwas going to write about in his column.\n The stocks usually went up or down in price depending on\nWinans' recommendation.\n He said insider trading accounted for only 11 percent of\nthe SEC's enforcement activities last year despite the\npublicity given to recent major cases.\n \"Insider trading makes up only a tiny fraction of one pct\nof the 50 billion dlrs of daily securities trading,\" Shad said.\n Shad asked for a budget increase so the SEC could enlarge \nits enforcement staff by 20 this year and 73 next year to deal\nwith all types of securities fraud.\n Shad said he hoped to start his new duties as U.S.\nAmbassador to the Netherlands by June. He said he did not know\nwhen his successor would be named by President Reagan.\n Reuter\n\u0003",
"date": " 8-APR-1987 11:58:25.04",
"places": [
"usa"
],
"id": "15114"
},
{
"title": "FORMER REPUBLIC WORKERS GET STOCK PAYOUT",
"body": "The Brotherhood of Railway and\nAirline Clerks said more than 5,500 former Republic Airlines\nworkers will receive an average of 10,000 dlrs each as part of\na stock payout.\n It said some members will receive almost 19,000 dlrs in\npayments.\n The total 56 mln dlr payment comes from an employee stock\nownership plan negotiated by several unions representing\nRepublic employees before the carrier's takeover by <Northwest\nAirlines> in 1986, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:00:17.37",
"places": [
"usa"
],
"id": "15115"
},
{
"title": "WESTERN DIGITAL CORP <WDC> REDEEMS DEBT",
"body": "Western Digtial Corp said it has\ncompleted the redemption of its 47 mln dlr, 6-3/4 pct\nconvertible subordinated debentures due 2011.\n The redemption resulted in the issuance of 2,685,142 shares\nof the company's common stock, Western Digital said. \n Reuter\n\u0003",
"date": " 8-APR-1987 12:03:46.73",
"places": [
"usa"
],
"id": "15116"
},
{
"title": "OMB'S MILLER SAYS REAGAN WILL REJECT TAX INCREASE IN HOUSE 1988 BUDGET\n",
"date": " 8-APR-1987 12:04:10.42",
"id": "15117"
},
{
"title": "RHODES INC <RHD> DECLARES DIVIDEND",
"body": "Qtly div nine cts vs nine cts prior\n Pay July 15\n Record June 15\n Reuter\n\u0003",
"date": " 8-APR-1987 12:05:02.81",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15118"
},
{
"title": "MADEIRA IN LETTER OF INTENT TO BE ACQUIRED",
"body": "<Madeira Inc> said it\nsigned a letter of intent to be acquired by Tradevest Inc\nthrough a stock-for-stock exchange.\n After completion of the transaction, Tradevest would own 90\npct of the issued outstanding stock of Madeira.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:06:20.64",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15119"
},
{
"title": "CELLTRONICS <CELT> DECLARES ONE-FOR-10 SPLIT",
"body": "Celltronics Inc said its directors\ndeclared a one-for-10 reverse stock split of its common stock.\n It said the split will be payable April 17 to shareholders\nof record April 16.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:07:05.08",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15120"
},
{
"title": "MONTEDISON'S AGRIMONT UNIT 1986 EARNINGS",
"body": "<Montedison SPA> of Italy said net\nconsolidated profit for its Agrimont Group, formed in June\n1986, totalled 1.5 billion lire in 1986.\n Agrimont SPA, the holding company for Montedison's\nAgro-Industrial businesses, had sales of 810 billion lire and a\nnet profit of about 1.1 billion lire, after amortization costs\nof 35 billion lire and a 13 billion lire reduction in the value\nof inventory due to falling market prices, Montedison said.\n Agrimont, still wholly owned by Montedison, is taking steps\nto be traded on the Milan exchange, the company said.\n The company said that 1986 was characterized by an unstable\nfertlizer market due to the weak dollar and the decline of\ninternational prices for products sold in Europe and the U.S\nwhere Agrimont operates through its Conserv division.\n In pesticides and in animal health care products Agrimont\nmaintained its previous level of revenues and market share in\n1986, Montedison said.\n Montedison said it named Ettore dell'Isola to the newly\ncreated position of president of Agrimont.\n Montedison also said it named Renato Picco, managing\ndirector of <Eridania SPA> and Gianfranco Ceroni, managing\ndirector of <Italiana Olii e Sifi>, both of whom are members\nof the the Ferruzzi Group's management board, to Argimont's\nboard of directors. Ferruzzi owns about 40 pct of Montedison,\nthe company said.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 12:09:10.34",
"topics": [
"earn"
],
"places": [
"usa",
"italy"
],
"id": "15121"
},
{
"title": "DATRON <DATR> AGREES TO BUYOUT BY OFFICERS",
"body": "Datron Corp said it agreed to\nmerge with GGFH Inc, a Florida-based company formed by the four\ntop officers of the company.\n According to terms of the proposed transaction, each share\nof Datron common stock, excluding those shares owned by the\nfour officers, will be bought for six dlrs a share, it said.\n Datron's officers hold about 73 pct of the total 896,000\nDatron common shares outstanding.\n Upon completion of the proposed transaction, the officers\nof Datron would own 100 pct of the company. The merger is\nsubject to GGHF's receiving financing for the plan, Datron\nsaid.\n Shareholders of Datron will be asked to approve the plan at\ntheir annual meeting to be held in June or July, and the merger\nis expected to be completed by July 31, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:10:25.64",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15122"
},
{
"title": "MILLER SAYS REAGAN WILL REJECT TAX INCREASE",
"body": "Office of Management and Budget\nDirector James Miller said President Reagan will reject the tax\nincrease called for in the House Budget Committee's 1988 budget\nproposal which is before the House for a vote today.\n \"It's just completely unacceptable,\" Miller told a House\nAppropriations subcommittee on Treasury, Postal Service and\nGeneral Government Appropriations.\n The plan, drafted by the Democratic-controlled Budget\ncommittee, calls for 22 billion dlrs in higher revenues, of\nwhich 18 billion would be from new taxes set by the tax-writing\ncommittees.\n The House committee's budget proposal includes some\nincreases in federal user fees as well as 18 billion dlrs in\ntaxes.\n Miller warned that failure to reduce the federal deficit\nwould jeopardize the U.S. economy.\n \"If we do not further reduce the deficit... we place this\neconomic expansion that we've had in the last five years at\nrisk,\" Miller told the subcommittee.\n \"The result of any kind of tax increase would be to increase\nsubstantially the prospects that the expansion would come to an\nend,\" Miller said.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:12:09.44",
"places": [
"usa"
],
"id": "15123"
},
{
"title": "TRUMP AND INTERSTATE PROPERTIES IN TALKS TO ACQUIRE ALEXANDERS\n",
"date": " 8-APR-1987 12:12:43.28",
"topics": [
"acq"
],
"id": "15124"
},
{
"title": "DUTCH CHEMICAL FIRM DSM TO BE PRIVATISED",
"body": "Dutch state-owned chemical\nfirm NV DSM <DSMN.AS>, the former Dutch state mines, which\ntoday reported a 2.5 pct increase in 1986 net profit to 412 mln\nguilders, said it was poised to be privatised, possibly next\nyear.\n DSM chairman Hans van Liemt told journalists \"We have done\nour homework. We're ready. It is up to the state now.\"\n He said a public sale of 30 pct of DSM's assets in 1988 was\nnot unlikely, but the timing of the sell-off was entirely in\nthe hands of Parliament.\n Dutch Finance Minister Onno Ruding is known to be a\nproponent of privatisation, and the centre-right government\ncoalition mentioned plans to privatise DSM in its policy\ndeclaration last autumn.\n Van Liemt would not speculate on a possible market price,\nbut said his company had raised its total 1986 dividend to 98\nmln guilders, almost 25 pct of 1986 net profit.\n \"We ought to be able to match our German competitors on\nprice earnings ratio, although the Amsterdam bourse generally\nhas a lower ratio than the world's major exchanges, \" he said.\n The average Dutch price/earnings ratio is 10.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:13:05.87",
"places": [
"netherlands"
],
"id": "15125"
},
{
"title": "SOUND WAREHOUSE INC <SWHI> 3RD QTR FEB 28 NET",
"body": "Shr 26 cts vs 52 cts\n Net 1,386,000 vs 2,773,000\n Revs 47.7 mln vs 38.5 mln\n Nine mths\n Shr 52 cts vs 97 cts\n Net 2,765,000 vs 5,419,000\n Revs 116.9 mln vs 97 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 12:14:15.24",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15126"
},
{
"title": "CNA INCOME SHARES <CNN> FILES FOR NOTE OFFERING",
"body": "CNA Income Shares Inc said it filed\nwith the Securities and Exchange Commission a registration\nstatement covering a 30 mln dlr issue of convertible extendible\nnotes due 1992.\n The proceeds will be used for investment purposes, the\ncompany said.\n CNA Inc named Drexel Burnham Lambert Inc as sole\nunderwriter for the offering.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:14:52.39",
"places": [
"usa"
],
"id": "15127"
},
{
"title": "TRUMP AND INTERSTATE IN TALKS FOR ALEXANDERS",
"body": "Donald Trump and Interstate Properties\nsaid they were holding preliminary discussions regarding a\npossible joint acquisition of Alexanders Inc at 47 dlrs per\nshare. \n The possible acquisition is subject to any applicable real\nestate gains and transfer taxes, the joint statement said.\n Trump and Interstate, which presently own about 40 pct of\nAlexander's common stock, said they intend to keep the company\nas a retailer if they succed in their acquisition.\n There can be no assurances that the parties will reach any\nagreement regarding an acquisition or what price might be\noffered, the statement said.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:16:01.87",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15128"
},
{
"title": "JAPAN BUYS 4,000 TONNES CANADIAN RAPESEED",
"body": "Japan bought 4,000 tonnes of Canadian\nrapeseed overnight at an undisclosed price for last half\nMay/first half June shipment, trade sources said.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:16:15.69",
"topics": [
"oilseed",
"rapeseed"
],
"places": [
"canada",
"japan"
],
"id": "15129"
},
{
"title": "TELECRAFTER CORP <SWHI> 2ND QTR FEB 28 NET",
"body": "Shr profit 12 cts vs loss 14 cts\n Net profit 183,000 vs loss 234,000\n Revs 2.4 mln vs 1.5 mln\n Six months\n Shr profit 22 cts vs loss 22 cts\n Net profit 345,000 vs loss 358,000\n Revs 5.2 mln vs 2.9 mln\n NOTE:1987 2nd qtr and six months include gains of 78,000\ndlrs and 154,000 dlrs for tax loss carryforward.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:17:10.43",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15130"
},
{
"title": "ENTOURAGE <ENTG> TO SELL SOLID PERFUME",
"body": "Entourage International Inc said it\nplans to package solid perfume in a lipstick tube and retail\nthe product, called \"Amadeus,\" for 15 dlrs.\n The company said the product was first test marketed in\nFeburary after six months of research and development.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:17:38.95",
"places": [
"usa"
],
"id": "15131"
},
{
"title": "TUNISIA EXPECTED TO TENDER FOR FRENCH WHEAT",
"body": "Tunisia is expected to tender April 14 for\n100,000 tonnes of French soft wheat for delivery between May\nand August and which would be covered by the French export\ncredit agency, COFACE, export credits, traders said here.\n No official tender has been announced yet by Tunisia, they\nsaid.\n France has sold a total of 200,000 tonnes of soft wheat to\nTunisia since the begining of the current campaign which was\ncovered by COFACE export credits. Of this amount, a total of\n150,000 tonnes was exported by March 1, they said.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:24:13.46",
"topics": [
"grain",
"wheat"
],
"places": [
"france",
"tunisia"
],
"id": "15132"
},
{
"title": "GREAT LAKES CHEMICAL <GLK> FILES OFFERING",
"body": "Great Lakes Chemical Corp\nsaid it registered with the Securities and Exchange Commission\na proposed public offering of two mln shares of its common\nstock.\n Proceeds from the offering will be used to repay debt\nincurred in the acquisition of two chemical companies, to\nincrease Great Lakes equity investment in Huntsman Chemical\nCorp and for general corporate purposes, it said.\n Underwriters are led by First Boston Corp, Goldman, Sachs\nand Co and Eberstadt Fleming Inc.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:25:20.96",
"places": [
"usa"
],
"id": "15133"
},
{
"title": "NORTHERN TELECOM <NT> SENDS SHIPMENT TO NIPPON",
"body": "Northern Telecom\nsaid it shipped the first digital central office switching\nsystem it sold to Nippon Telegraph and Telephone under the\nterms of a 250 mln dlrs supply agreement.\n The agreement began with the signing of a letter of\nunderstanding in December 1985. THe formal seven-year agreement\nwas signed in May 1986.\n The Northern Telecom systems is the first U.S.-manufactured\ndigital central office switching systems to be installed in the\nJapanese public telephone network, it said.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 12:26:11.43",
"places": [
"usa",
"japan"
],
"id": "15134"
},
{
"title": "GERMAN INVESTMENTS ABROAD FALL IN 1986",
"body": "West Germany's total net direct investments\nabroad fell to 11.2 billion marks in 1986 from 13.6 billion in\n1985, but investments in developing countries rose to 683 mln\nmarks from 358 mln, the Economics Ministry said.\n Foreign investments in West Germany were a net 5.8 billion\nmarks in 1986, up from 3.6 billion in 1985, with higher\nEuropean investments largely responsible for this increase.\n The ministry noted that, despite last year's rise in West\nGerman investments in developing countries, the 1986 level was\nbelow the investments of over two billion marks seen in 1981,\n1982 and 1983.\n REUTER\n\u0003",
"date": " 8-APR-1987 12:28:11.05",
"places": [
"west-germany"
],
"id": "15135"
},
{
"title": "COLT INDUSTRIES INC <COT> 1ST QTR NET",
"body": "Shr 28 cts vs 16 cts\n Net 9,387,000 vs 25,617,000\n Revs 410.1 mln vs 393.5 mln\n Avg shrs 35.4 mln vs 164.7 mln\n NOTE: 1987 net reflects interest expense on debt incurred\nto finance recapitalization in Oct. 1986. Prior year earnings\nrestated to reflect recapitalization plan.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:28:31.30",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15136"
},
{
"title": "U.S. SENATE BUDGET COMMITTEE APPROVES BUDGET",
"body": "The Senate Budget Committee ended its\nstalemate over a budget plan and approved by a single vote a\nrevised 1988 budget proposed by chairman Lawton Chiles to cut\nthe deficit to 133.7 billion next year.\n The new plan broke last week's gridlock in which the\ncommittee failed to approve a similar Chiles plan on a tie\nvote. Today, the measure was sent to the Senate 13 to 11.\n Among a series of changes to get the extra vote, Chiles\nadded about 400 million dlrs for additional, unspecified,\nagricultural spending programs to be paid with partly with\nhigher user fees.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:30:09.80",
"places": [
"usa"
],
"id": "15137"
},
{
"title": "YANKEE <YNK> UNIT NOT TO SELL SUBSIDIARY",
"body": "Yankee Cos Inc said its Eskey\nInc <ESK> subsidiary has decided not to sell its Yale E. Key\nunit.\n Further details were not disclosed.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:32:54.34",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15138"
},
{
"title": "CME ADDS COMPLIANCE CHIEF, EXPANDS SURVEILLANCE",
"body": "The Chicago Mercantile Exchange, CME,\nsaid it has added a new chief compliance officer and will\nexpand its regulatory surveillance program.\n Paul O'Kelly, currently assistant regional administrator of\nthe Securities and Exchange Commission, was named\nvice-president of compliance for the exchange, the CME said.\n The expanded compliance program, which calls for an\nincrease in the exchange's compliance budget and addition of\nstaff, was in response to recent criticisms that the CME's\ncurrent surveillance was not able to keep up with increased\ndemands of recent volatility and volume, the CME said.\n The new surveillance program calls for the addition of\nthree floor investigators and five compliance investigators,\nthe CME said.\n Some of the new staff will monitor the exchange's new\nComputerized Trade Reconstruction system, scheduled to start\nJuly 1.\n In addition, three computer programmers will be added to\nassist in regulatory support for the exchange's management\ninformation system department.\n Recent criticism has been especially directed at the CME's\nStandard and Poor's stock index futures and options division.\n A special membership referendum to prohibit CME members\nfrom filling customer orders and trading for their own account\nin S and P 500 futures and options will be voted on April 13.\n In a letter dated March 12, CME chairman John Sandner and\nExecutive committee chairman Leo Melamed urged members to\nreject the referendum in favor a series of new rules.\n Included in the rule changes was the requirement that\nfutures brokers in the S and P pit manually record all personal\ntrades to the nearest minute, intended to \"enhance the\neffectiveness of surveillance and compliance functions,\"\n \"We made a promise to our members that we have kept,\"\nMelamed said in a release today.\n He said the new surveillance program \"represents a\ncommitment to a vigorous enforcement policy.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 12:35:35.66",
"places": [
"usa"
],
"id": "15139"
},
{
"title": "POLAND REASSURES CREDITORS ON ECONOMIC REFORMS",
"body": "Plans to rejuvenate Poland's economy\nby reducing central government control would help reassure\nWestern creditors that the country's economy was safe to invest\nin, a senior Polish official said.\n \"The business of granting loans to Poland is not as bad a\nbusiness as you might imagine,\" senior Polish government\nspokesman Jerzy Urban told a news conference in Stockholm.\n Urban, visiting the Swedish capital to deliver a lecture at\nthe Foreign Policy Institute, announced earlier this week that\nPoland would soon offer shares to private citizens in state\ncompanies in a bid to make the economy more responsive.\n This was part of a major economic reform to be announced in\nthe coming weeks, he said.\n Urban said the main problem with his country's foreign debt\nburden of 32 billion dollars was short term interest charges\nbut the long term looked more secure.\n He said he hoped talks under way with the Paris Club,\ngrouping Poland's main government creditors, would shortly\nsolve the problem of short term servicing.\n Urban told reporters that debt servicing was hampering the\nexpansion of the national economy, but that the new plans for\neconomic reform would \"open new vistas for Polish exports.\"\n He criticised the blocking efforts of some Western\ngovernments, whom he declined to name, for putting political\nconsiderations ahead of economic co-operation.\n \"After the lifting of U.S. Sanctions against the Polish\neconomy we considered all political obstacles had been removed,\nbut that has not been the case,\" Urban said.\n REUTER\n\u0003",
"date": " 8-APR-1987 12:41:38.39",
"places": [
"sweden"
],
"id": "15140"
},
{
"title": "MAYFAIR SUPER MARKETS INC <MYFRA> 2ND QTR FEB 28",
"body": "Shr 59 cts vs 46 cts\n Net 2.4 mln vs 1.9 mln\n Revs 122.5 mln vs 105.9 mln\n Six months\n Shr 1.13 dlrs vs 84 cts\n Net 4.5 mln vs 3.4 mln\n Revs 242.5 mln vs 210.1 mln\n NOTE: 1986 share adjusted for 2-for-1 stock split.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:43:03.91",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15141"
},
{
"title": "IRAN SAYS OFFENSIVE AIMED AT DESTROYING IRAQ ARMY",
"body": "Iran decided to continue its operations\neast of Basra to destroy Iraq's forces, Iranian Prime Minister\nMir-Hossein Mousavi told Tehran Radio.\n \"That seems to be the best spot for the complete destruction\nof (Iraqi President) Saddam's forces. This is why it was\ndecided that the operations would forcefully continue there,\" he\nsaid.\n \"At the same time, we have maintained our ability to act\nthroughout the length of the fronts,\" Mousavi told the radio,\nmonitored by the British Broadcasting Corporation.\n Tehran Radio reported over 1,500 Iraqi casualties today as\nIran continued its Karbala-8 operation launched early\nyesterday.\n Iran said over 2,600 Iraqis had been killed or wounded\nyesterday. Iraq said today its forces had beaten back the\nlatest attacks inflicting heavy casualties.\n Mousavi told Tehran radio that \"on the whole, our advances\nhave broken the back of the military forces of Saddam.\"\n Earlier today the Iranian news agency IRNA said Tehran's\nforces were stabilising new positions after their assault on\nIraqi lines defending Basra, Iraq's second city.\n In Baghdad, a military spokesman said Iraqi warplanes today\ndestroyed an oil pumping station and a production unit at\nIran's Ahvaz field.\n Reuter\n\u0003",
"date": " 8-APR-1987 12:56:27.42",
"places": [
"uk",
"iran",
"iraq"
],
"id": "15142"
},
{
"title": "FRANCE SETS 9.5 BILLION FRANC T-BILL TENDER",
"body": "The Bank of France said it will offer 9.5\nbillion francs worth of negotiable Treasury bills at its next\nweekly tender on April 13.\n The total includes four billion francs worth of 13-week\nbills, 2.5 billion francs of two-year bills and three billion\nfrancs of five-year bills.\n At this week's tender on Monday the Bank sold a total of\n7.7 billion francs worth of 13 and 26-week bills against an\noriginal offer of seven billion and demand for 22.66 billion.\n REUTER\n\u0003",
"date": " 8-APR-1987 13:00:08.84",
"places": [
"france"
],
"id": "15143"
},
{
"title": "<BATON BROADCASTING INC> SIX MTHS FEB 28 NET",
"body": "Shr 33 cts vs 31 cts\n Net 9,219,017 vs 8,515,539\n Revs 112.0 mln vs 95.4 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 13:00:14.90",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15144"
},
{
"title": "UNITED CABLE TELEVISION CORP <UCT> 3RD QTR NET",
"body": "Shr loss 24 cts vs profit seven cts\n Net loss 5,952,000 vs profit 2,078,000\n Revs 55.9 mln vs 50.6 mln\n Avg shrs 25.2 mln vs 24.7 mln\n Nine mths\n Shr loss 11 cts vs profit 24 cts\n Net loss 2,673,000 vs profit 6,800,000\n Revs 162.6 mln vs 143.9 mln\n Avg shrs 25.0 mln vs 24.4 mln\n NOTE: Current year net both periods includes pretax charge\nseven mln dlrs from increase in reserve for investments in\nbroadcast television entities and tax credits of 1,002,000 dlrs\nin quarter and 520,000 dlrs in nine mths.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:00:25.53",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15145"
},
{
"title": "CANADA ALLOWS PUBLISHING TAKEOVER BY HARCOURT",
"body": "Investment Canada said it has allowed the\nindirect takeover of Holt, Rinehart and Winston Canada Ltd.,\nW.B. Saunders Co of Canada Ltd and Les Editions HRW Ltd by\nHarcourt Brace Jovanovich Canada Inc.\n The government agency said, however, Harcourt Canada has\nagreed to sell control of the firms to Canadian interests\nwithin two years.\n Harcourt Canada's U.S. parent, Harcourt Brace Jovanovich\nInc <HBJ>, indirectly acquired the Canadian book publishing\ncompanies when it purchased Holt Rinehart and Winston from CBS\nInc <CBS> last October. \n Reuter\n\u0003",
"date": " 8-APR-1987 13:02:34.97",
"topics": [
"acq"
],
"places": [
"canada"
],
"id": "15146"
},
{
"title": "NEW JERSEY HOSPITAL ASSOCIATION SYMPOSIUM",
"body": "The New Jersey Hospital Association\nsaid it will hold a symposium on the quality of hospital care\non Friday, April 10.\n Thirty-eight health-care executives from 18 nations will be\non hand at the symposium.\n\n Reuter\n\u0003",
"date": " 8-APR-1987 13:04:34.11",
"places": [
"usa"
],
"id": "15147"
},
{
"title": "FED SAYS IT BUYS ALL COUPONS FOR REGULAR DELIVERY \n",
"date": " 8-APR-1987 13:05:49.63",
"id": "15148"
},
{
"title": "TALKING POINT/BURLINGTON INDUSTRIES <BUR>",
"body": "The largest U.S. textile maker focused\non its own business as its competitors found merger partners,\nbut now Burlington Industries Inc may have restructured itself\ninto an attractive takeover candidate, analysts said.\n The takeover spotlight fell today on Burlington, which rose\n4-7/8 to 52-7/8 on speculation that investor Asher Edelman and\nDominion Textiles Inc of Canada bought an almost five pct\nstake.\n A published report said Edelman and Dominion jointly\nacquired a stake in Burlington and were weighing a takeover\noffer. Edelman would not comment, and a spokesman for\nMontreal-based Dominion called the report just \"rumors.\"\n Burlington said it did not know if the report was true.\n Wall Street professionals said they were not convinced of\nthe story or that Edelman and Dominion would be the victors if\nBurlington actually came into play.\n Arbitragers said past comments from Dominion, however,\nadded credence to the speculation. Dominion has said that it\nwas looking for a takeover in the U.S.\n Last year, Dominion unsuccessfully bid for Avondale Mills\nand has maintained a 120 mln dlr line of credit to be used for\na U.S. acquisition.\n A Dominion spokesman said Canada's largest textile producer\nhas been negotiating with \"many\" U.S. textile companies, but\nwould not say whether Burlington was among them.\n \"There have been acquisitions in this area. It's not\nunusual that someone could be looking at Burlington after the\nhousecleaning they've done,\" said Eileen Gormley of Thomson\nMcKinnon.\n Burlington sold its domestic operations, which made sheets\nand other linens, to J.P. Stevens and Co Inc for 110 mln dlrs\nlast year. It also has reorganized management, and focused its\noperations on businesses that would be less affected by foreign\ncompetition, Gormley said.\n \"They've pulled back so as not to be a commodity marketer,\"\nsaid Gormley. She said in moving more heavily into industrial\nfabrics, Burlington bought C.H. Masland, which supplies carpets\nand other fabric to the auto industry.\n \"In the past, they just spent and never realized the return\non the outlays they did make,\" she said.\n \"You look at their record over the year, and I think\nthey're poised to be more profitable than they had been in the\npast,\" Gormley said.\n She estimated 1987 earnings of 2.50 dlrs per share, up\nfrom 2.01 dlrs per share.\n Some analysts today recommended clients not buy Burlington\nat its current levels.\n Edward Johnson of Johnson Redbook said he recommends\nselling. He said he believes the stock is worth only about 50\ndlrs on a takeover basis and about 46 dlrs on an earnings\nbasis.\n Some arbitragers, however, said takeover values have been\nplaced on the company of 60 to 65 dlrs per share.\n \"After Asher's (Edelman) recent history, a lot of people\ndon't find him very credible anymore,\" said one arbitrager.\n Another, however, said Edelman succeeds in forcing\nmanagements to take steps to enhance shareholder values even if\nhe doesn't win the target company.\n Edelman was unsuccessful last year in offers for Lucky\nStores Inc and Fruehauf Corp. He did succeed in buying\nPonderosa Inc.\n The stocks of other textile makers rose along with\nBurlington.\n J.P. Stevens <STN> climbed 5/8 to 44-7/8, and Fieldcrest\nCannon Inc <FLD>, the result of a merger of Fieldcrest and\nCannon, rose 1-1/8 to 39-3/4. West Point-Pepperell Inc <WPM>\nrose 1-7/8 to 67-1/8.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:06:52.07",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15149"
},
{
"title": "UNITED AIRLINES MARCH LOAD FACTOR RISES TO 70.6 PCT FROM 66.2 PCT\n",
"date": " 8-APR-1987 13:07:10.18",
"id": "15150"
},
{
"title": "AMPLICON INITIAL OFFERING AT 12.25 DLRS A SHARE",
"body": "Kidder, Peabody and Co and E.F. Hutton\nCo Inc, acting as co-managers in the underwriting group, said\n<Amplicon Inc's> initial public offering of 1,650,000 shares of\nits common stock was being offered at 12.25 dlrs per share.\n Of the shares being offered, 1,400,000 are being sold by\nthe company and 250,000 shares are being sold by selling\nstockholders, Kidder Peabody said.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:08:13.17",
"places": [
"usa"
],
"id": "15151"
},
{
"title": "STERIVET LABORATORIES LTD <STVTF> 1ST QTR NET",
"body": "Shr profit 10 cts vs loss 17 cts\n Net profit 206,000 vs loss 281,000\n Revs 1,022,00 vs 344,000\n Reuter\n\u0003",
"date": " 8-APR-1987 13:08:17.96",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15152"
},
{
"title": "STERIVET LABORATORIES LTD <STVTF> YEAR LOSS",
"body": "Shr loss 48 cts vs loss 19 cts\n Net loss 746,000 vs loss 342,000\n Revs 3,213,000 vs 2,925,000\n Reuter\n\u0003",
"date": " 8-APR-1987 13:08:21.26",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15153"
},
{
"title": "JAPAN IN LAST-DITCH EFFORT TO AVERT TARIFFS",
"body": "Senior Japanese officials tomorrow\nopen talks with American trade negotiators in a last-ditch\neffort to avert new high U.S. tariffs to be imposed on a wide\nvariety of Japanese electronic exports.\n Makoto Kuroda, vice minister of Japan's Ministry of\nInternational Trade and Industry (MITI), is to hold two days of\nmeetings with the Deputy U.S. Trade Representative, Michael\nSmith, and the Under Secretary of Commerce, Bruce Smart.\n The new tariffs, to go into effect on April 17, are in\nretaliation for Japan's failure to adhere to an agreement to\nend dumping semiconductors in world markets at below cost and\nto open its home market to U.S. semiconductor shipments.\n They are to be imposed on goods which use semiconductors,\nincluding television and audio equipment and computers.\n Both U.S. and Japanese officials have said there was little\nlikelihood the talks would do anything to avert the 100 pct\nduties on 300 mln dlrs worth of Japanese shipments.\n President Reagan announced the planned tariffs on March 27\nafter he said that close monitoring of the July 1986\nU.S.-Japanese semiconductor pact convinced U.S. officials that\nJapan was not honoring the agreement.\n In making the annoucement, Reagan said \"I am committed to\nthe full enforcement of our trade agreements designed to\nprovide American industry with free and fair trade.\"\n Trade analysts said his move was aimed as much at Japan's\nsemiconductor trade practices, which are said to have injured\nthe U.S. semiconductor industry, as Congress, which has\ncomplained about presidential timidity on trade issues.\n Congressional Democrats have pledged to enact aggressive\ntrade laws to counter what they contend has been Reagan's\ninaction to redress the growing U.S. trade deficit, which last\nyear reached 169.8 billion dlrs.\n About one-third of the deficit was with Japan.\n Reagan said there were recent signs Japan was beginning to\nadhere to the pact and that was why he was not terminating it.\n Kuroda said on leaving Tokyo today he had no new proposals\nbut did have an explanation of the semiconductor situation.\n He told the daily newspaper Ashai Shimbun that Reagan's\ndecision was based on inaccurate data and an exaggerated sense\nof MITI's power to control Japanese traders.\n \"The United States has excessive expectations.,\" he said. To\nstabilize supply-demand relations which have been disrupted by\nexcess inventories since 1985 will take some time.\"\n He also said that U.S. firms had not been aggressive enough\nin trying to sell in the Japanese market.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:08:33.80",
"topics": [
"trade"
],
"places": [
"usa",
"japan"
],
"id": "15154"
},
{
"title": "EMERSON RADIO <EME> SELLS NOTES PRIVATELY",
"body": "Emerson Radio Corp said it\nhas sold 10 mln dlrs of eight pct senior notes due March 1992\nto a major institutional investor it did not name.\n The company also said 5,800,000 dlrs of its convertible\nsubordinated notes due 1997 have been converted into 728,476\ncommon shares.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:08:54.02",
"places": [
"usa"
],
"id": "15155"
},
{
"title": "HOECHST CELANESE SENDS REPORT ON NEW FACILITIES",
"body": "<Hoechst Celanese Corp> said it\nsent propsective customers a confidential report describing its\npolyester textile fiber facilities in North Carolina and South\nCarolina.\n The company did not disclose any prices.\n The report describes the facilities in Darlington County,\nS.C., and Fayetteville, N.C., the company said. The report also\ndecribes related manufacturing, marketing, administrative and\ntechnical resources that could be made avialable to a buyer.\n Hoechst Celanese was formed Feb 27 by the merger of\nCelanese Corp and American Hoechst Corp. The merger took place\nafter an agreement was reached with the Federal Trade\nCommission that certain domestic polyester textile fiber assets\nof the combined companies would be divested, it said.\n Hoechst Celanese said it has the option of divesting either\nthe South Carolina facilities of the former American Hoechst or\na package of polyester textile fiber facilities of the former\nCelanese.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:09:33.53",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15156"
},
{
"title": "MELLON PARTICIPATING MORTGAGE TRUST <MPMTS> DIV",
"body": "Qtly div 25 cts vs 25 cts prior\n Payable May 6\n Record April 24\n Reuter\n\u0003",
"date": " 8-APR-1987 13:09:59.96",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15157"
},
{
"title": "U.S. TREASURY SAYS NO PLANS FOR SPECIAL BONDS",
"body": "A Treasury official said there are no\nplans to try to reduce the U.S. budget deficit by issuing\nyen-denominated bonds that would become known as \"Reagan bonds.\"\n \"It simply isn't something that we are planning to do,\" the\nofficial said.\n He added the Treasury was aware of Japanese news reports\nsuggesting the Reagan administration might issue such bonds as\nthe former Carter administration did when it sold \"Carter bonds\"\ndenominated in West German marks.\n But he said the situation was greatly different now.\n \"If you look at the differences between the treasury market\nnow and in the Carter administration years, it is a much more\nglobal market now,\" the official said.\n \"There was not the same ease then for the holder of another\ncurrency to buy other countries' securities,\" he added, \"But\nthere is no difficulty now for them to purchase dollars and buy\nU.S. securities.\"\n The United States needs dollars, not Japanese yen, to pay\nits debts and reduce the deficit and so has no plans to issue\nyen-denominated bonds, he emphasized.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:10:55.21",
"places": [
"usa"
],
"id": "15158"
},
{
"title": "PUBLIC SERVICE COLORADO <PSR> IN SETTLEMENT",
"body": "Public Service Co of Colorado said it has\nreached a preliminary agreement to resolve a territorial\ndispute with Union Rural Electric Association of Brighton,\nColo.\n The company said, \"The tentative agreement protects Union's\nboundaries and also would set in motion a vote of Union's\nmembership, which could lead to acquisition of Union by Public\nService Co.\"\n Union provides electrical service to about 14,000 members\nin cities and rural areas north of Denver.\n The company said the settlement, which is pending before\nthe Colorado Public Utilities Commission, is under review by\nthe Tri-State Generation and Transmission Association, which\nsupplies power to Union, and is subject to approval by the\nPublic Service Colorado board and Union's membership. It also\nwill be discussed with the Colorado Rural Electric Association.\n It said legislation that would halt the acquisition of\nelectric utility service territories by annexation will remain\nactive in the Colorado House of Representatives until Union and\nPublic Service assure legislators they are in agreement.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:11:43.73",
"places": [
"usa"
],
"id": "15159"
},
{
"title": "ADVANCED MICRO <AMD> UNVEILS COMPUTER CHIPS",
"body": "Advanced Micro Devices Inc said it is\ndeveloping a set of five computer chips for use in digital\ncommunications systems.\n The company said the new chips support the integrated\nservices digital network, or ISDN, the international standard\nfor digital voice and data communications.\n Advanced Micro also said it has signed a licensing\nagreement with American Telephone and Telegraph Co <T> under\nwhich ATT has provided it with certain digital communications\nspecifications.\n Today's announcement follows the company's introduction\nlast week of a 32-bit microprocessor.\n \"We have now reached a key point in the development of\ncommunications devices that implement a worldwide ISDN\nstandard,\" said John East, group vice president for Advanced\nMicro's logic businesses.\n He said the company's new computer chips, to be available\nby the end of this year, should boost the acceptance and\nimplementation of ISDN services.\n The chip set includes five separate devices in 100 unit\nquantities. The devices are priced from 7.25 dlrs to 29.25\ndlrs. Similar chip sets for ISDN communications are already\nbeing sold by a number of companies including INTEL Corp\n<INTC>, ATT, Rockwell International <ROK> and a joint venture\nbetween Northern Telecom LTd <NT> and Motorola Inc <MOT>.\n The ISDN standard, portions of which are still being\ndefined, will provide for the simultaneous transmission of\nvoice, data and video.\n Advanced Micro chip sets will be used in equipment such as\nprivate branch exchanges and desktop computers.\n The company also said it is developing an ISDN protocol\ncontroller. It said the controller will connect directly with\nits current line of ISDN devices.\n The device supports several digital communications\nprotocols, including ones from International Business Machines\nCorp <IBM> and ATT.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:12:05.96",
"places": [
"usa"
],
"id": "15160"
},
{
"title": "U.K. GEC DECLINES COMMENT ON U.S. PURCHASE RUMOUR",
"body": "General Electric Co Plc <GECL.L> (GEC)\ndeclined comment on rumours on the London stock market that it\nis planning another purchase in the U.S. Medical equipment\nfield, in addition to its existing U.S. Subsidiary <Picker\nInternational Inc>.\n A GEC spokesman said that it is company policy not to\ncomment on acquisition rumours.\n Stock Exchange traders said the rumour helped GEC's share\nprice to rise 5p, to a final 206p from yesterday's closing\nprice of 201p.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:12:50.47",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15161"
},
{
"title": "PRESTON CORP <PTRK> SEES FIRST QUARTER LOSS",
"body": "Preston corp said it expects to\nreport a loss of about 300,000 dlrs or five cts per share for\nthe first quarter, compared with a profit of 1,081,000 dlrs or\n19 cts per share a year before. \n The trucking company attributed the loss to the continued\nrate of discounted in its primary markets, flat revenues and\nincreased costs, including uninsured claims expense resulting\nfrom adverse weather conditions during the last three months.\n It said results outside the Northeast were strong, and it\nexpects to show improved results for the rest of the year.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:12:55.51",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15162"
},
{
"title": "FED SAYS IT OFFERS TO BUY ALL COUPON ISSUES",
"body": "The Federal Reserve entered the U.S.\nGovernment securities market and offered to buy all maturities\nof Treasury notes and bonds, a Fed spokesman said.\n He said this coupon \"pass,\" which adds permanent reserves\nto the banking system, was for regular delivery tomorrow.\n Dealers said that Federal funds were trading at 6-7/16 pct\nwhen the Fed announced the operation. Economists had been\nexpecting the Fed to do this because of the need to offset\nseasonal factors expected to drain reserves heavily over the\nnext few weeks. The Fed had previously offered to buy all\ncoupon issues on March 31.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:14:01.82",
"places": [
"usa"
],
"id": "15163"
},
{
"title": "SYNERGEN <SYGN> FILES TO OFFER SHARES",
"body": "Synergen Inc said it has filed\nfor an offering of 1,500,000 common shares through underwriters\nled by Alex. Brown Inc <ABSB>, Hambrecht and Quist Inc and\nBoettcher and Co Inc.\n It said proceeds will be used to fund research and testing\nand for other general corporate purposes.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:14:07.93",
"places": [
"usa"
],
"id": "15164"
},
{
"title": "U.S. SENATE BUDGET COMMITTEE APPROVES PLAN",
"body": "The U.S. Senate Budget Committee\nended its stalemate over a budget plan and approved by a single\nvote a revised 1988 budget proposed by chairman Lawton Chiles\nto cut the deficit to 133.7 billion next year.\n The new plan broke last week's gridlock in which the\ncommittee failed to approve a similar Chiles plan on a tie\nvote. Today, the measure was sent to the Senate 13 to 11.\n Among a series of changes to get the extra vote, Chiles\nadded about 400 mln dlrs for additional, unspecified,\nagricultural spending programs to be paid with partly with\nhigher user fees.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:14:39.65",
"places": [
"usa"
],
"id": "15165"
},
{
"title": "QUEBEC GOVERNMENT TO OFFER HELP TO NORANDA MINE",
"body": "Quebec mines minister Raymond Savoie said\nthe province is prepared to offer money to help re-open\n(Noranda Inc)'s Murdochville, Quebec copper mine, shut down by\nfire last week, but said he could not give a specific figure\nuntil damage estimates have been completed.\n Federal member of parliament for the region, Charles-Eugene\nMarin, said last week the federal government is also prepared\nto provide financial help to restart operations as soon as\npossible. Noranda has estimated damage from the fire at about\n10 mln dlrs and a company spokesman said it should have a more\nspecific estimate by the end of the month.\n Noranda said it had hoped to have an estimate sooner, but\nhas found that it will take longer than expected to gain access\nto the burned-out area.\n Noranda said the mine was not insured.\n \"We decided many years ago...that the costs of insuring all\nof Noranda's underground operations would have been\nprohibitive,\" Larry Taylor, Noranda's risk management and\ninsurance director, said.\n Taylor said before last week's fire, the company had only\nhad one previous mine accident many years ago.\n Last week's fire killed one miner and trapped 52 other\nunderground, some for up to 24 hours. It was believed to have\nstarted on a new conveyor system.\n Noranda has said it would take four to five months to\nreturn the mine to normal operating capacity. It produced\n72,0000 tons of copper anode last year, Coffin said.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:15:10.37",
"places": [
"canada"
],
"id": "15166"
},
{
"title": "WESTERN DIGITAL <WDC> DEBENTURES CONVERTED",
"body": "Western Digital Corp said its 47\nmln dlrs of 6-3/4 pct convertible debentures due 2011, which\nhad been called for redemption, were converted into 2,685,142\ncommon shares.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:17:33.89",
"places": [
"usa"
],
"id": "15167"
},
{
"title": "EASTMAN KODAK <EK> SELLS 25 MLN DLRS OF NOTES",
"body": "Eastman Kodak Co is raising 25 mln dlrs\nthrough an offering of notes due 1997, said sole underwriter\nMorgan Stanley and Co Inc.\n The notes have a 7-1/2 pct coupon and an initial offering\nprice of 99.625 to yield 7.34 pct, or 20 basis points over\nfive-year Treasury notes. Morgan said the notes will be\nreoffered to investors at variable prices.\n Non-callable for life, the issue is rated Aaa by Moody's\nInvestors Service Inc and AA by Standard and Poor's Corp.\nInvestors can sell the notes back to the company in 1992.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:18:19.01",
"places": [
"usa"
],
"id": "15168"
},
{
"title": "LE PEEP RESTAURANTS SUES OHIO COMPANY",
"body": "<Le Peep Restaurants Inc> said it is\nsuing an Ohio company, charging it copied its restaurant from\nits menu to its design.\n The action is being taken against <Shelly's Inc>, operator\nof three restaurants in Columbus, Ohio, the company said. The\nsuit alleges copyright infringement and unfair competition, it\nsaid.\n The suit was filed in U.S. District Court of the Southern\nDistrict in Ohio, and seeks damages in excess of 2,250,000, the\ncompany said.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:18:34.11",
"places": [
"usa"
],
"id": "15169"
},
{
"title": "AMEX LISTS RED LION INNS <RED>",
"body": "The <American Stock Exchange> said it\nhas listed Red Lion Inns LP, which went public today. The\ninitial trade of the partnership units was at 19.75 dlrs, it\nsaid.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:18:38.62",
"places": [
"usa"
],
"id": "15170"
},
{
"title": "WHITE HOUSE STANDING FIRM ON JAPANESE SANCTIONS",
"body": "Presidential spokesman Marlin\nFitzwater said U.S. trade sanctions against Japan were likely\ntake effect on April 17 in spite of a \"full court press\" by\nJapanese officials to avoid them.\n \"All indications are they will take effect,\" he said.\n \"I would say Japan is applying the full court press ... They\ncertainly are putting both feet forward in terms of explaining\ntheir position,\" Fitzwater told reporters.\n He noted high level meetings on the trade dispute are\nunderway here but said, \"I don't think there's anything I can\nreport and I don't believe there's been any official movement.\"\n REUTER\n\u0003",
"date": " 8-APR-1987 13:19:26.77",
"topics": [
"trade"
],
"places": [
"usa",
"japan"
],
"id": "15171"
},
{
"title": "DOW JONES AND CO INC FIRST QUARTER SHR 69 CTS VS 64 CTS\n",
"date": " 8-APR-1987 13:19:40.08",
"topics": [
"earn"
],
"id": "15172"
},
{
"title": "STANFORD TELECOMMUNICATIONS <STII> WINS CONTRACT",
"body": "Stanford Telecommunications\nInc said it was awarded a three-year contract for 2,945,052\ndlrs to support the National Aeronautics and Space\nAdministration's Goddard Space Flight Center.\n The company said its tasks will include mission modeling,\nground system specific task assignements, ground system\narchitecture/operations studies, transition planning, frequency\nmanagement support, radio frequency interference development\nand system engineering.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:20:18.64",
"places": [
"usa"
],
"id": "15173"
},
{
"title": "GUINNESS PLC NON-EXEC CHAIRMAN TO REMAIN",
"body": "Sir Norman Macfarlane, non-executive\nchairman of <Guinness PLC>, has agreed to remain in his post\nfor two more years, the company said.\n The company said its board asked Macfarlane to continue in\nhis capacity. Macfarlane has been in his post since January.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:21:44.72",
"places": [
"uk"
],
"id": "15174"
},
{
"title": "<HAYES-DANA INC> 1ST QTR NET",
"body": "Shr 30 cts vs 28 cts\n Net 5,000,000 vs 4,600,000\n Revs 125.2 mln vs 123.9 mln\n Note: 52 pct-owned by Dana Corp <DCN>.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:23:16.10",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15175"
},
{
"title": "PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC",
"body": "The following proposed securities\nofferings were filed recently with the Securities and Exchange\nCommission:\n Stone Container Corp <STO> - Secondary offering of\n1,633,453 shares of common stock and offering of 300,000 shares\nof common stock, both through Morgan Stanley and Co Inc and\nGoldman, Sachs and Co.\n American Continental Corp <AMCC> - Shelf offering of up to\n250,000 shares of 100 dlr cumulative convertible preferred\nstock through Offerman and Co Inc.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:23:32.07",
"places": [
"usa"
],
"id": "15176"
},
{
"title": "WESTERN DIGITAL <WDC> REDEEMS DEBT",
"body": "Western Digital Corp said it has\ncompleted the redemption of its 47 mln dlrs of 6-3/4 pct\nconvertible subordinated debentures due 2011.\n The debt was surrendered for conversion into comon stock,\nresulting in 2,685,142 shares being issued.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:23:57.64",
"places": [
"usa"
],
"id": "15177"
},
{
"title": "COPYTELE <COPY> GETS FLAT PANEL PATENT",
"body": "CopyTele Inc said the\nU.S. Patent Office has issued a structure patent for its high\nresolution charged particle flat panel display screen.\n The company said it has successfully developed an\nexperimental model with a 4.5 inch image area measured\ndiagonally, and is continuing development on panels with larger\nimage areas.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:24:59.73",
"places": [
"usa"
],
"id": "15178"
},
{
"title": "COCOA TERMINAL DEPOSITS TO BE CUT 25 PCT - ICCH",
"body": "The basic deposit on cocoa futures\ncontracts will be reduced by 25 pct as from Friday, April 10,\ntaking the required deposit for one 10 tonne lot to 300 stg\nfrom 400 previously, a spokesman for the International\nCommodity Clearing House (ICCH) said.\n The deposit for spread contracts will be similarly cut, to\n150 stg for a one 10 tonne lot from 200 previously, he said.\n The ICCH had been looking at cocoa market fluctuations over\na period of weeks, he said, adding the market's basic stability\nhad warranted a cut in deposit rates.\n The decision to cut deposits was taken by the ICCH after\nconsultation with the London Cocoa Terminal Market, the\nspokesman said.\n The cuts were likely to attract more business to the\nmarket, he said.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:25:18.02",
"topics": [
"cocoa"
],
"places": [
"uk"
],
"id": "15179"
},
{
"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 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 Reuter\n\u0003",
"date": " 8-APR-1987 13:25:58.36",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15180"
},
{
"title": "MUNSON <MGEO> GETS PROJECT FINANCING",
"body": "Munson Geothermal Inc said it\nreceived the necessary financing to complete construction work\nat its Brady Hot Springs facility and begin commercial delivery\nof geothermally produced electricity to Sierra Pacific Resouces\nCorp <SRP> by July this year.\n Munson has a 30-year contract which calls for it to supply\nSierra Pacific with about 23.5 megawatts of electricity per\nyear, a spokesman said.\n Munson, a wholesale electric utility, said the financing\nconsists of a 1.25 mln dlr credit agreement with a division of\nFoster Oilfield Co of Houston.\n Trading in Munson's stock was halted earlier, news pending.\nIt last traded at a bid of 2-3/8 and an offer of 2-1/2.\n In addition, Munson said that since closing its 1.2 mln dlr\nlimited partnership at Brady in December 1986, the company has\nraised about 500,000 dlrs through private placements with\nqualified investors.\n The funds will be used to help finance commercial startup\nof the Brady facility, Munson also said.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:26:09.63",
"places": [
"usa"
],
"id": "15181"
},
{
"title": "ARVIN <ARV>, SANGO START BUILDING PLANT",
"body": "Arvin Industries Inc said it and\nSango Co Ltd of Japan have started building a new 119,000\nsquare foot joint venture auto exhaust plant in Madison, Wis.\n The company said the 15.2 mln dlr plant of its Arvin Sango\nInc venture with Sango is scheduled to be in operation early in\n1988.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:26:59.07",
"places": [
"usa",
"japan"
],
"id": "15182"
},
{
"title": "WASHINGTON ENERGY <WECO> PLANS PUBLIC OFFERING",
"body": "Washington Energy Co said it plans to\nfile a registration statement later this month covering a\nplanned public offering of 1.2 mln common shares.\n Proceeds from the offering will be used to reduce\nshort-term bank borrowings incurred to finance capital\nexpenditures, the company said.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:27:18.65",
"places": [
"usa"
],
"id": "15183"
},
{
"title": "WHONNOCK PLANS SHARE ISSUE",
"body": "<Whonnock Industries\nLtd> said it agreed to sell two mln class A subordinate voting\nshares to investment dealers Dominion Securities Inc and\nPemberton Houston Willoughby Bell Gouinlock Inc for resale to\nthe public at 7.75 dlrs each.\n Whonnock said <Toronto Dominion Bank> agreed to sell\n500,000 of its Whonnock class A subordinate voting shares to\nthe same investment dealers as part of the public offer.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:27:25.11",
"places": [
"canada"
],
"id": "15184"
},
{
"title": "WALGREEN CO 2ND QTR SHR 62 CTS VS 58 CTS\n",
"date": " 8-APR-1987 13:28:07.39",
"topics": [
"earn"
],
"id": "15185"
},
{
"title": "THIRD U.S. MARINE ARRESTED IN SPY SCANDAL",
"body": "A third Marine has been arrested on\nsuspicion of espionage in a growing sex-spy scandal involving\nsecurity at both the U.S. Embassy in Moscow and the American\nConsulate in Leningrad, the Pentagon said.\n Sgt. John Joseph Weirick, 26, was arrested yesterday in\nCalifornia and jailed for questioning on suspicion of espionage\nwhile he served as a guard at the U.S. consulate in Leningrad\nfor a year beginning in October, 1981, Pentagon spokesman\nRobert Sims said.\n Two other Marines were earlier charged with espionage at\nthe Moscow Embassy and a third Marine, Staff Sgt. Robert\nStufflebeam, was charged yesterday with failure to report\ncontacts with Soviet women in Moscow, Sims told reporters.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:29:02.10",
"places": [
"usa",
"ussr"
],
"id": "15186"
},
{
"title": "PHILADELPHIA ELECTRIC <PE> NUCLEAR COST ESTIMATE",
"body": "Philadelphia Electric Co will have\nto spend an average of about five mln dlrs a day to replace the\nelectricity which would have been generated by the Peach Bottom\nnuclear power plant, Chairman J. Lee Everett said.\n The Nuclear Regulatory Commission ordered the utility to\nclose the plant early last week.\n \"This is the first time an operating plant has been shut\ndown by the NRC specifically because of plant operator\nproblems,\" Everett told the company's annual meeting.\n He did not say who would pay for the replacement power --\nrate payers or shareholders.\n Everett told the meeting Philadelphia Electric can not give\na definitive answer on the cost of the shutdown until it gets\nPeach Bottom back in service.\n He said the utility had been aware for some time it had\nattitude problems among the operating forces at Peach Bottom\nand thought it had been making progress toward improvement.\n \"While the attitude of operating personnel at Peach Bottom\nhas been rated poor, the attitudes or our personnel at\nLimerick, our other nuclear plant, have been rated excellent.\nWe have asked ourselves over and over how two plants, managed\nby the same company, can be so different.\"\n Everett said \"Limerick has been the model for improvements\nwe set out to accomplish at Peach Bottom, and remains so.\"\n He said a special committee composed of Philadelphia\nElectric's outside directors will monitor and direct the\ncompany's investigation of the problem.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:29:21.73",
"places": [
"usa"
],
"id": "15187"
},
{
"title": "JUDY'S INC <JUDY> 4TH QTR JAN 31 LOSS",
"body": "Shr loss two cts vs profit nine cts\n Net loss 74,000 vs profit 418,000\n Sales 18.2 mln vs 17.5 mln\n Year\n Shr profit nine cts vs profit 26 cts\n Net profit 426,000 vs profit 1,170,000\n Sales 58.7 mln vs 56.7 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 13:29:35.04",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15188"
},
{
"title": "ORANGE-CO INC <OJ> 2ND QTR FEB 28 NET",
"body": "Shr profit 2.26 dlrs vs loss 81 cts\n Net profit 9,785,000 vs loss 3,422,000\n Revs 26.0 mln vs 18.9 mln\n Avg shrs 4,316,000 vs 4,207,000\n 1st half\n Shr profit 2.75 dlrs vs loss 1.07 dlrs\n Net profit 11.9 mln vs loss 4,486,000\n Revs 39.0 mln vs 37.2 mln\n Avg shrs 4,318,000 vs 4,181,000\n NOTE: Current year net both periods includes gain 9,500,000\ndlrs from sale of Orange-Co of Florida subsidiary to American\nAgrnomics Corp <AGR>.\n Net includes pretax real estate disposition loss 920,000\ndlrs vs gain 52,000 dlrs in quarter and loss 863,000 dlrs vs\ngain 117,000 dlrs in half.\n Prior year net includes tax credits of 2,132,000 dlrs in\nquarter and 3,039,000 dlres in half.\n Current half net includes 2,051,000 dlr pretax gain\n2,051,000 dlrs from change in accounting.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:30:20.12",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15189"
},
{
"title": "DOW JONES AND CO INC <DJ> 1ST QTR NET",
"body": "Shr 69 cts vs 64 cts\n Net 66,719,000 vs 61,773,000\n Rev 285.6 mln vs 259.7 mln\n NOTE: Earnings include after-tax gain of 29.4 mln dlrs, or\n30 cts a share, versus after-tax gain of 31.4 mln dlrs, or 32\ncts a share, for 1986 first quarter. Earnings per share\nreflects a 50 pct stock dividend in the form of a class B\ncommon stock distribution on June 30, 1986.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 13:30:43.55",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15190"
},
{
"title": "LANESBOROUGH'S SUBORDINATED NOTES LOWERED BY S/P",
"body": "Standard and Poor's Corp said it cut to\nCCC-plus from B-minus Lanesborough Corp's 50 mln dlrs of senior\nsubordinated notes.\n S and P said the downgrade reflected Lanesborough's planned\npurchase of Ampex Corp from Allied-Signal Inc <ALD> for 479 mln\ndlrs.\n \"The acquisition represents a dramatic departure from\nmanagement's stated financial policies,\" S and P said. It also\nsaid that Lanesborough is making a major investment in a\nventure with extremely high financial risk.\n The company's implied senior debt rating is B.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:31:24.55",
"places": [
"usa"
],
"id": "15191"
},
{
"title": "UAL'S (UAL) UNITED AIR MARCH LOAD FACTOR RISES",
"body": "United Airlines, a subsidiary of UAL\nInc, said its load factor in March rose to 70.6 pct from 66.2\npct in the same period a year ago.\n United said its March traffic jumped 23.2 pct to 6.05\nbillion revenue passenger miles from 4.91 billion revenue\npassenger miles in the same month last year. Available seat\nmiles for the month increased 15.4 pct to 8.56 billion from\n7.42 billion available seat miles, it said.\n Total cargo ton miles for March were up 22 pct to 104.4 mln\nfrom 85.6 mln cargo ton miles in March 1986, it said.\n For the January through March period in 1987, United said\nits load factor advanced to 63.8 pct from 59.9 pct last year.\n Traffic for the period through March soared 32.7 pct to\n15.57 billion revenue passenger miles from 11.73 billion\nrevenue passenger miles in the 1986 period, it said. Available\nseat miles were ahead by 24.6 pct to 24.42 billion from 19.60\nbillion available seat miles in the comparable period last\nyear, United said.\n Total cargo ton miles for the 1987 first quarter rose 30.6\npct to 275.7 mln from 211.1 mln cargo ton miles in the 1986\nperiod, the airline said.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:32:19.90",
"places": [
"usa"
],
"id": "15192"
},
{
"title": "LORD ABBETT AND CO MUTUAL FUND DIVIDENDS",
"body": "LORD ABBETT BOND DEBENTURE FUND\n Qtly div 28 cts vs 29 cts prior\n Pay May 5\n Record April 9\n ---\n LORD ABBETT U.S. GOVERNMENT SECURITIES FUND\n Daily div 2.9 cts vs 2.9 cts prior\n Pay May 15\n Record May 15\n LORD ABBETT TAX FREE INCOME FUND NATIONAL SERIES\n Daily div 6.7 cts vs 6.7 cts prior\n Pay May 15\n Record May 15\n ---\n LORD ABBETT TAX FREE INCOME NEW YORK SERIES\n Daily div 6.7 cts vs 6.7 cts prior\n Pay May 15\n Record May 15\n LORD ABBETT TAX FREE INCOME TEXAS SERIES\n Daily div 5.9 cts vs 5.9 cts prior\n Pay May 15\n Record May 15\n ---\n LORD ABBETT CALIFORNIA TAX FREE INCOME\n Daily div of 6.2 cts vs 6.2 cts prior\n Pay May 15\n Record May 15\n Reuter\n\u0003",
"date": " 8-APR-1987 13:33:04.03",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15193"
},
{
"title": "HEINEKEN SEES HIGHER PROFITS, WIDER PENETRATION",
"body": "Dutch brewer Heineken NV said it hoped\nto maintain for a number of years a similar earnings growth to\nthe 7.5 pct increase in net profit achieved in 1986, despite\ncontinuing investments in a reorganization program and efforts\nto extend world penetration.\n Heineken last month reported a 1986 net profit of 285 mln\nguilders, after 265 mln in 1985.\n Chairman Freddie Heineken said the company, Europe's\nleading beer producer with six pct of market share in 1986,\nsaid sales increased by 6.3 pct to 42.1 mln hectoliters.\n The volume increase was due mainly to a rise in the U.S.,\nWhere the brand Amstel Lite saw great demand, and in Europe,\nwhere sales accounted for 25.5 pct of the total.\n Turnover, despite losses in guilder terms due to weaker\nforeign currencies, rose by 4.4 pct, to 6.7 billion guilders.\n Further consolidation of foreign companies, including the\nincrease of its stake in leading Spanish brewery <El Aguila\nS.A.> to 51.2 pct, new ventures and modernization, particularly\nin French and Spanish interests, eroded profit margins. The\ncompany still planned to invest 700 mln guilders this year in\nrestructuring and marketing, Heineken said.\n Heineken's Spanish activities should start yielding profit\nnext year, Heineken said, adding that its French operations had\nalready turned to profit after vast rationalization last year.\n Vice Chairman Gerard van Schaik said the decision by the\nEuropean Court of Justice in Luxembourg to allow foreign beer\ninto the closed West German market -- Europe's biggest beer\nmarket -- offered interesting possibilities for Heineken. \"We\nhave the beer, but distribution and sales is the important\npoint,\" van Schaik said, adding that since the ruling Heineken\nhad been inundated by German traders seeking joint ventures.\n \"The question is not if we want to penetrate the German\nmarket, but how we are to do it,\" van Schaik said, adding that\nwhile the widely traveled Germans seemed to be developing a\ntaste for foreign beer, the internal structure was very\nregionalized.\n Heineken board member Hans Coebergh, responsible for\nAfrican operations, said he saw Africa as one of the most\nimportant beer growth markets in the long term.\n He said the company, present in Africa since 1932 and with\nmajority stakes in six breweries and interests in 25, was\nhampered by the lack of hard currencies there.\n Africa, where beer consumption averages only nine liters\nper head per year and sales are limited by import restrictions\nand currency risks, nonetheless accounted for 6.5 pct of total\n1986 sales.\n On-site production is rendered expensive by the high price\nof imports of essential ingredients. But Heineken scientists\nhave been looking at other possibilities.\n To balance the costs of imported malt, Heinken launched on\nthe Nigerian market a new beer made of 50 pct sorghum, which\nhad sold successfully, Coebergh said.\n Heineken is urging farmers to grow the traditional raw\nmaterials, but Coebergh noted that banana and palm beer were\npopular in Rwanda . \"This is a possibility, but we could not\npossibly achieve the Heineken flavor,\" Coebergh said.\n Chairman Heineken said the company's seven year efforts to\npenetrate the Soviet market had finally resulted this week in a\ncontract that relaxed some of the restrictions they faced.\n But again, a lack of hard currencies limited Heineken's\nmarket potential. Heineken now has seven bars in Moscow that\nare enjoying good sales, but the bars only accept western\nmoney.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:34:14.92",
"topics": [
"earn"
],
"places": [
"netherlands"
],
"id": "15194"
},
{
"title": "RESEARCH INDUSTRIES <REIC> UNVEILS NEW PRODUCTS",
"body": "Research Industries Corp said it\nis introducing three additions to its line of cardiovascular\nspecialty products.\n The company said the products are a patented drainage\nbicaval cannula for open heart surgery, a proprietary catheter\nfor neonatal thoracic surgery and a line of specialized baloon\ncatheter shunts for carotid artery surgery.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:34:36.33",
"places": [
"usa"
],
"id": "15195"
},
{
"title": "ORANGE-CO <OJ> HOLDERS APPROVE NAME CHANGE",
"body": "Orange-Co Inc said\nshareholders at the annual meeting approved a name change to\nStoneridge Resources Inc.\n The company said yesterday shareholders of American\nAgronomics Corp <AGR>, which acquired Orange-Co's Orange-Co of\nFlorida subsidiary late in 1986, approved a name change to\nOrange-Co Inc.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:36:45.09",
"places": [
"usa"
],
"id": "15196"
},
{
"title": "WALGREEN CO <WAG> VOTES QUARTERLY DIVIDEND",
"body": "Qtly div 13-1/2 cts vs 12-1/2 cts prior qtr\n Pay 12 June\n Record 21 May\n Reuter\n\u0003",
"date": " 8-APR-1987 13:37:05.66",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15197"
},
{
"title": "COLOMBIA BUSINESS ASKED TO DIVERSIFY FROM COFFEE",
"body": "A Colombia government trade official has\nurged the business community to aggressively diversify its\nactivities and stop relying so heavily on coffee.\n Samuel Alberto Yohai, director of the Foreign Trade\nInstitute, INCOMEX, said private businessmen should not become\nwhat he called \"mental hostages\" to coffee, traditionally\nColombia's major export.\n The National Planning Department forecast that in 1987\ncoffee will account for only one-third of total exports, or\nabout 1.5 billion dlrs, with oil and energy products making up\nanother third and non-traditional exports the remainder.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:39:33.92",
"topics": [
"coffee"
],
"places": [
"colombia"
],
"id": "15198"
},
{
"title": "GM SETS MAY 29 SHUTDOWN OF MICHIGAN TRUCK LINE, 2,000 COULD BE LAID OFF\n",
"date": " 8-APR-1987 13:44:25.27",
"id": "15199"
},
{
"title": "TURKEY CALLS FOR DIALOGUE TO SOLVE DISPUTE",
"body": "Turkey said today its disputes with\nGreece, including rights on the continental shelf in the Aegean\nSea, should be solved through negotiations.\n A Foreign Ministry statement said the latest crisis between\nthe two NATO members stemmed from the continental shelf dispute\nand an agreement on this issue would effect the security,\neconomy and other rights of both countries.\n \"As the issue is basicly political, a solution can only be\nfound by bilateral negotiations,\" the statement said. Greece has\nrepeatedly said the issue was legal and could be solved at the\nInternational Court of Justice.\n The two countries approached armed confrontation last month\nafter Greece announced it planned oil exploration work in the\nAegean and Turkey said it would also search for oil.\n A face-off was averted when Turkey confined its research to\nterritorrial waters. \"The latest crises created an historic\nopportunity to solve the disputes between the two countries,\"\nthe Foreign Ministry statement said.\n Turkey's ambassador in Athens, Nazmi Akiman, was due to\nmeet Prime Minister Andreas Papandreou today for the Greek\nreply to a message sent last week by Turkish Prime Minister\nTurgut Ozal. The contents of the message were not disclosed.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:45:08.83",
"topics": [
"crude"
],
"places": [
"turkey",
"greece"
],
"id": "15200"
},
{
"title": "GM SAYS ST. LOUIS TRUCK PLANT TO BE SHUT AUGUST SEVEN\n",
"date": " 8-APR-1987 13:45:44.92",
"id": "15201"
},
{
"title": "DIGILOG <DILO> SAYS 2ND QTR REVENUES ROSE",
"body": "Digilog Inc said revenues\nfor the second quarter ended MArch 31 were about 4,300,000\ndlrs, up from 3,065,000 dlrs a year earlier.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:46:41.30",
"places": [
"usa"
],
"id": "15202"
},
{
"title": "CUBA TO STIMULATE ECONOMY DESPITE IMPORT CUTS",
"body": "Cuba will continue to develop its economy\ndespite the need to cut imports from hard currency nations by\nhalf this year, President Fidel Castro said.\n The Cuban economy is going through a difficult period due\nmainly to two years of drought, low sugar prices, a fall in the\nprice of petroleum and the fall in the value of the dollar,\nCastro said in a published weekend speech delivered to a young\ncommunists union congress.\n Castro said cuba will continue to prospect for oil, build\nthermo-electric generating stations, a large petroleum refinery\nand a nuclear power plant in 1987.\n He said work would also continue this year in developing\nthe chemical and mining industries. Among the main projects in\nmining are two nickel processing plants built with Soviet and\nComecon aid .\n REUTER\n\u0003",
"date": " 8-APR-1987 13:47:22.39",
"places": [
"cuba"
],
"id": "15203"
},
{
"title": "FRONTIER INSURANCE <FRTR> IN ACQUISITION TALKS",
"body": "Frontier Insurance Group Inc\nsaid it is currently negotiating to acquire the business of\nMedical Quadrangle Inc, formerly its largest medical\nmalpractice insurance producer, and the business of its other\nmalpractice producer, Medical Professional Liability Agency\nInc.\n It gave no details.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:48:28.73",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15204"
},
{
"title": "FRONTIER INSURANCE GROUP INC <FRTR> 4TH QTR NET",
"body": "Oper shr 25 cts vs six cts\n Oper net 840,000 vs 139,000\n Revs 8,290,000 vs 4,743,000\n Avg shrs 3,335,029 vs 2,400,000\n Year\n Oper shr 97 cts vs 53 cts\n Oper net 2,546,000 vs 1,275,000\n Revs 28.8 mln vs 18.5 mln\n Avg shrs 2,635,665 vs 2,400,000\n NOTE: Net excludes investment gain four cts shr vs loss six\ncts in quarter and gain five cts vs loss six cts in year.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:48:35.94",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15205"
},
{
"title": "GATT OFFICIAL MEETS WITH U.S. FARM LEADERS",
"body": "The official in charge of\nagricultural matters in the new round of global trade talks is\nin Washington today and tomorrow to meet with congressional and\nReagan administration officials.\n Aart de Zeeuw, chairman of the General Agreement on Tariffs\nand Trade's negotiating group on agriculture, met this morning\nwith members of the House Agriculture Committee.\n Committee sources said De Zeeuw expressed concern over\nprotectionism and high farm price supports. House lawmakers\nnoted that in 1985 the United States took steps to reduce loan\nrates, committee staff said.\n \"Members told him (De Zeeuw) that we lowered our (U.S.) loan\nrates and can't eliminate subsidies unilaterally,\" one source\nsaid.\n De Zeeuw was told of the U.S. lawmakers' frustration with\nJapan's restrictive rice import policy, and members defended\nthe U.S. dairy policy, which aims to cut surplus production by\nsubsidizing producers to trim herds, sources said.\n Later today De Zeeuw will meet the Senate Agriculture\nmembers and Undersecretary of State Affairs Allen Wallis.\n Tomorrow, De Zeeuw is to meet the House Ways and Means\nTrade Subcommittee and the Senate Finance Committee, before\nvisiting Agriculture Secretary Richard Lyng.\n De Zeeuw goes to Canada later this week. His trip to North\nAmerica is part of his attempt to meet farm policy leaders in\nthe key GATT member states.\n The negotiating group on agriculture held its first meeting\nin February and is expected to meet again in May.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:48:57.15",
"topics": [
"rice"
],
"organisations": [
"gatt"
],
"places": [
"usa",
"japan"
],
"id": "15206"
},
{
"title": "SOUTHINGTON SAVINGS BANK <SSBB> 1ST QTR NET",
"body": "Shr 39 cts vs not given\n Net 707,000 vs 505,000\n NOTE: Company went public in July 1986.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:55:24.73",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15207"
},
{
"title": "CATERPILLAR INC <CAT> VOTES QUARTERLY DIVIDEND",
"body": "Qtly div 12-1/2 cts vs 12-1/2 cts prior qtr\n Pay 20 May\n Record 20 April\n Reuter\n\u0003",
"date": " 8-APR-1987 13:55:51.81",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15208"
},
{
"title": "WALGREEN <WAG> SEES MARCH SALES UP 11.2 PCT",
"body": "Walgreen Co said preliminary\nfigures show that its sales for March will be up 11.2 pct over\nMarch 1986, when it had 313.4 mln dlrs in sales.\n Final March retail figures are expected Thursday April 9.\n It also said it expects a strong Easter selling season.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:56:01.41",
"places": [
"usa"
],
"id": "15209"
},
{
"title": "CORRECTED - DATRON <DATR> AGREES TO BUYOUT",
"body": "Datron Corp said it agreed to\nmerge with GGHF Inc, a Florida-based company formed by the four\ntop officers of the company.\n According to terms of the proposed transaction, each share\nof Datron common stock, excluding those shares owned by the\nfour officers, will be converted into six dlrs a share, it\nsaid.\n Datron's officers hold about 73 pct of the total 896,000\nDatron common shares outstanding, it said.\n(corrects company name, GGHF, in first paragraph)\n REUTER\n\u0003",
"date": " 8-APR-1987 13:56:41.23",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15210"
},
{
"title": "WALGREEN CO <WAG> 2ND QTR FEB 28 NET",
"body": "Shr 62 cts vs 58 cts\n Qtly div 13-1/2 cts vs 13-1/2 cts prior\n Net 38.8 mln vs 35.7 mln\n Revs 1.18 billion vs one billion\n Six mths\n Shr 84 cts vs 86 cts\n Net 52 mln vs 52.9 mln\n Revs 2.14 billion vs 1.82 billion\n NOTE: Results include charge of four cts shr for latest six\nmths vs credit of five cts shr for prior six mths from\ninvestment tax credit\n Dividend payable June 12, record May 21\n Reuter\n\u0003",
"date": " 8-APR-1987 13:57:29.01",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15211"
},
{
"title": "J.P. MORGAN<JPM> SAYS DLR MAY PREVENT FED EASING",
"body": "The relatively high level of real U.S.\ninterest rates suggests that there is scope for further\ndeclines in money market rates, but the Federal Reserve is\nunlikely to promote such a drop as long as the dollar remains\nvolatile, said J.P. Morgan and Co Inc chairman Lewis Preston.\n He said in response to a reporter's question after the\nbank's annual meeting that money market rates could decline\nfurther but, \"I don't think the Fed is going to encourage that\nas long as the exchange markets are as volatile as they are.\"\n On the other hand, he said that, barring a collapse of the\ndollar, he did not see rates going much higher.\n He said that Morgan's recent rise in its prime lending rate\nwas \"purely a reflection of an increase in a whole spectrum of\nrates.\"\n Preston reiterated earlier company forecasts that the U.S.\neconomy should show roughly 2.5 to three pct real growth this\nyear.\n He also said that as a consequence of the dollar's decline\nand oil price rises, inflation would rise \"moderately\" to a 3.5\nto four pct rate in 1987.\n Reuter\n\u0003",
"date": " 8-APR-1987 13:59:30.35",
"topics": [
"money-fx",
"dlr",
"interest"
],
"places": [
"usa"
],
"id": "15212"
},
{
"title": "MEDTRONIC <MDT> SEES 15 PCT EARNINGS GROWTH",
"body": "Medtronic Inc said it sees 15 pct\ngrowth in sales and earnings for the year ending April 30,\n1988.\n At an analysts meeting here the company said that for the\nyear ending April 30, 1987 it will earn about 73 mln dlrs, or\nabout 5.15-5.35 dlrs a share on sales of about 500 mln dlrs.\n In the year ago period, the company earned 53.4 mln dlrs,\nor 3.65 dlrs a share, on sales of 402.8 mln dlrs.\n Winston Wallin, Medtronic chairman, said the company will\nimprove market share in fiscal 1988 in cardiac pacemakers and\nexpand its cardiovascular therapeutic product line.\n Wallin cautioned analysts not to quickly change their per\nshare estimates for the company as he said Medtronic will have\nheavy sales and marketing expenses in fiscal 1988.\n He said the company intends to reinvest its earnings in its\nbusinesses and not in its dividends. \"Shareholders are better\noff if we grow the business rather than reinvest in dividends\nor share repurchases,\" he said.\n Wallin said he sees Medtronic's share of the total\nworldwide pacemaker market increasing to 42 pct in fiscal 1988,\nfrom 40 pct in fiscal 1987.\n He said the worldwide market for cardiovascualr therapeutic\nproducts, which includes pacemakers, valves, catheters and\nlasers, will be valued at about 2.5 billion dlrs 1990 and will\ndouble that by 1995.\n Wallin said, \"Our objective is to get a hold of new\nproducts and start building market share if we have to beg,\nborrow or steal to get into new markets.\"\n In the past, Medtronic's pacemakers have been plagued with\na number of problems leading to product recalls. Regulators\nalso have criticized the industry, citing quality problems and\na needless overprescription of pacemakers.\n \"We have no knowledge of any major problems in our\npacemakers or leads,\" Wallin said. \"We intend to re-establish\nour company as the quality leader in the industry.\"\n Glen Nelson, executive vice president for Medtronics, said\nthe company intends to diversify internally and through\nacquisitions of companies in areas of Medtronic's expertise,\nsuch as drug delivery systems.\n Wallin said the 15 pct earnings growth for fiscal 1988 does\nnot include dilutions from acquisitions. \"We hope to have some\nsafety provisions so that we won't have any major dilutions\nfrom an acquisition.\"\n Wallin also said the company will have virtual exclusivity\nin rate responsive pacemakers for all of fiscal 1988.\n The company markets Activitrax, the first single chamber\npacemaker that varies heartrate in response to physical\nactivity.\n Siemens AG, a West German company, is also developing a\nrate responsive pacemaker.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 14:01:31.06",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15213"
},
{
"title": "IBM <IBM> NAMES NEW PRESIDENT FOR ROLM UNIT",
"body": "International Business Machines\nCorp said IBM vice president Ray S. AbuZayyad has been named\npresident of its ROLM Corp subsidiary, succeeding Dennis D.\nPaboojian, who remains with IBM as a consultant.\n The company said IBM vice president Paul R. Low has been\nnamed president of the IBM General Products Division,\nsucceeding AbuZayyad, and IBM vice president Michael J. Attardo\nhas been named president of IBM's General Technology Division,\nsucceeding Low.\n A Rolm spokeswoman said Paboojian decided to step down for\npersonal reasons.\n His decision, she said, was not related to IBM's move last\nmonth to merge Rolm's sales and service organization into its\nown marketing corps.\n That merger was viewed by some analysts as reducing Rolm's\nindependence and relegating it to a role as a manufacturing and\nproduct development site within IBM.\n \"He wanted to take some personal time off,\" she said,\nadding that Paboojian had taken part in the merger decision.\n Scores of Rolm veterans have left the company, which makes\ntelephone exchanges and other communications equipment, since\nit was acquired by IBM in 1984.\n Rolm's highly respected founder, Ken Oshman, left more than\na year ago.\n Rolm and IBM customers have complained about a lack of\ncoordination between Rolm and IBM, and analysts estimate the\nunit lost money last year.\n But the spokeswoman said Paboojian was \"happy with the way\nthings are going with Rolm.\" She said the unit posted its best\nfourth quarter revenues ever in the 1986 fourth quarter.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:01:47.52",
"places": [
"usa"
],
"id": "15214"
},
{
"title": "U.K. CHEMICAL INDUSTRY CAPITAL SPENDING SEEN UP",
"body": "Capital spending in the U.K. Chemical\nindustry is expected to rise to 1.4 billion stg this year, a\nthree pct increase on the 1986 level after inflation, the\nChemical Industry Association said.\n A further increase to 1.52 billion stg is expected in 1988,\nbut there will be a decline to 1.38 billion in 1989, the\nassociation found in its latest investment intentions survey.\n Even so, the estimated total fixed capital spending for the\n1987-89 period of 4.3 billion is a real spending increase of\nsix pct on the previous three years, the report said.\nEighty-one firms took part in the survey.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:02:45.57",
"places": [
"uk"
],
"id": "15215"
},
{
"title": "SOCAL EDISON <SCE> SIGNS HOOVER DAM POWER PACT",
"body": "Southern California Edison said\nit signed a 30-year contract with the federal government for\nhydroelectric power from Hoover Dam.\n Southern California Edison said it would receive some 277.5\nmegawatts of electrical power under the contract, enough to\nserve about 160,000 homes.\n Terms of the contract were not disclosed.\n The original 50-year contracts for Hoover Dam hydroelectric\npower are scheduled to expire at the end of May, the company\nsaid.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:04:30.57",
"places": [
"usa"
],
"id": "15216"
},
{
"title": "SPIE BATIGNOLLES COULD INCREASE COMSTOCK HOLDING",
"body": "Construction group <Spie Batignolles> is\nnegotiating to increase its holding in U.S. Engineering and\nelectrical installations firm <Comstock>.\n Spie Batignolles, a subsidiary of Schneider SA <SCHN.PA>,\nsaid in a statement it was negotiating to invest 20 mln dlrs in\nComstock in the form of bonds convertible into shares.\n Spie Batignolles has held a 20 pct stake in Comstock since\nFebruary 1986. A spokesman said if Spie Batignolles converted\nall the new bonds, it could open the way for the French company\nto take control of Comstock but he gave no other details.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:04:59.85",
"topics": [
"acq"
],
"places": [
"france",
"usa"
],
"id": "15217"
},
{
"title": "GENERAL MOTORS <GM> SETS SHUTDOWN DATES",
"body": "General Motors Corp said it set dates to\nshut down two of its truck and bus facilities that had been\nslated for closure.\n General Motors said its number one line at its Flint,\nMich., truck and bus assembly plant will be closed May 29. The\ncompany said the closing was in line with its announcement last\nNovember that it would close 11 plants. At that time, General\nMotors said the line would be closed \"by August.\"\n At Flint, \"layoffs could reach 2,000,\" the automaker said.\nSome 1,400 workers on the line will be transferred to other\nlocations or put in a job placement program. The second line at\nthe plant is not affected.\n General Motors also said it will close the truck and bus\nplant in St. Louis on August seven.\n General Motors did not specify how many of the 2,200\nworkers at the facility would be laid off, but said \"many of\nthose employees will be transferring toother General Motors\noperations in the area.\"\n In the automaker's previous announcement, it said the\nfacility would be closed by \"mid-1987.\"\n General Motors said the full-size pickup trucks currently\nbeing built of Flint's Line One are being replaced by a new\nfull-size pickup truck being assembled at Fort Wayne, Ind., and\nat renovated plants in Pontiac, Mich., and Oshawa, Ont.\n The St. Louis plant makes full-size pickup trucks,\nincluding crew cab models. The production is being phased out\nas the Fort Wayne, Pontiac and Oshawa plant begin to produce\nGeneral Motors' new redesigned 1988 full-size pickup. Crew cab\ntruck output is being shifted to Janesvile, Wis.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:06:43.83",
"places": [
"usa"
],
"id": "15218"
},
{
"title": "TALKS CONTINUE ON TIN AGREEMENT EXTENSION",
"body": "Discussions on the possible extension of\nthe sixth International Tin Agreement (ITA) began at the\nquarterly session of the International Tin Council (ITC) but\nthe Council is still waiting for decisions from various member\nstates.\n A number of producer governments in particular have not\ndecided their final position on whether the ITA should be\nextended for up to two years or wound down after it expires on\nJune 30, according to delegate sources.\n Earlier today European Community (EC) members decided to\nback an extension, with the exception of Britain, which\nundertook to communicate its decision to its EC partners later.\n Delegates said it could be Friday before all the member\ncountries declare their positions on the possible extension.\nToday's full Council session started shortly before 1500 GMT\nafter the scheduled 1330 start was delayed by an EC\ncoordination meeting.\n The council reconvenes at 0930 GMT tomorrow, although\ndelegates said the morning is likely to be taken up with minor\ntechnical matters and the main issue will probably not be\ndiscussed before the afternoon session.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:07:50.81",
"topics": [
"tin"
],
"organisations": [
"itc",
"ec"
],
"places": [
"uk"
],
"id": "15219"
},
{
"title": "PAKISTAN COTTON CROP SEEN RECORD 7.6 MLN BALES",
"body": "Pakistan is likely to produce a record\n7.6 mln bales (375 lbs each) of cotton from the current 1986/87\ncrop, exceeding a target of 7.2 mln bales, Food and Agriculture\nMinister Mohammad Ibrahim Baluch said.\n He told a Pakistan Central Cotton Committee meeting here\nthe present was the third consecutive poroduction\nrecord-setting year and said the momentum would be accelerated\nin the future, the official APP news agency reported.\n Baluch said indications were that Pakistan is to attain a\nrecord cotton production of 7.6 mln bales, compared to the\n1985/86 crop of 7.2 mln bales which also represented the target\nearlier set by authorities for this year's production.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:08:02.04",
"topics": [
"cotton"
],
"places": [
"pakistan"
],
"id": "15220"
},
{
"title": "TRANZONIC COS <TNZ> 4TH QTR FEB 28 NET",
"body": "Shr 54 cts vs 24 cts\n Net 633,300 vs 300,859\n Sales 15.2 mln vs 13.0 mln\n Avg shrs 1,165,047 vs 1,224,982\n Year\n Shr two dlrs vs 1.64 dlrs\n Net 2,379,400 vs 2,011,924\n Sales 58.6 mln vs 54.0 mln\n Avg shrs 1,187,828 vs 1,223,511\n Reuter\n\u0003",
"date": " 8-APR-1987 14:08:24.22",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15221"
},
{
"title": "SECURITY PACIFIC EXPECTS BRAZIL LOAN ACTION TO CUT NET BY 7.2 MLN DLRS\n",
"date": " 8-APR-1987 14:11:21.13",
"topics": [
"earn"
],
"id": "15222"
},
{
"title": "WHITE HOUSE SAYS JAPANESE TARRIFFS LIKELY",
"body": "The White House said high U.S.\nTariffs on Japanese electronic goods would likely be imposed as\nscheduled on April 17, despite an all-out effort by Japan to\navoid them.\n Presidential spokesman Marlin Fitzwater made the remark one\nday before U.S. And Japanese officials are to meet under the\nemergency provisions of a July 1986 semiconductor pact to\ndiscuss trade and the punitive tariffs.\n Fitzwater said: \"I would say Japan is applying the\nfull-court press...They certainly are putting both feet forward\nin terms of explaining their position.\" But he added that \"all\nindications are they (the tariffs) will take effect.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 14:12:07.22",
"topics": [
"trade"
],
"places": [
"usa",
"japan"
],
"id": "15223"
},
{
"title": "EC PLANS FOR CASH PAYMENTS TO FARMERS IMPEDED",
"body": "Controversial plans to pay\nWestern Europe's surplus-producing farmers generous cash grants\nto leave the land ran into problems at today's weekly meeting\nof the European Community (EC) Commission, officials said.\n They said the 17-member Commission, which effectively runs\nthe Community on a day-to-day basis, appeared divided over the\nproposals which some people argue could lead to national\ncapitals having too much say in EC farm policies.\n EC Farm Commissioner Frans Andriessen is proposing paying\nfarmers as much as 2,800 dlrs a year over five years to leave\nthe land. EC member states would be permitted to top up\npayments to the poorest farmers to 80 pct of the average\nnational farm income.\n The package would also include an early retirement scheme,\ndetails of which have yet to be unveiled.\n Andriessen's aim is to make a restrictive price policy --\nthe centre-piece of a current battle to curb unwanted food\nproduction -- more acceptable to countries with large farming\ncommunities.\n With two-thirds of the EC's entire 39 billion dlr budget\nswallowed up by EC farm supports, he argues that in the\nlong-run the payments would lead to considerable savings.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:18:00.17",
"organisations": [
"ec"
],
"places": [
"france"
],
"id": "15224"
},
{
"title": "ELECTROSPACE <ELE> WINS U.S. DEFENSE CONTRACTS",
"body": "Electrospace Systems Inc said\nit won two follow up contracts from the U.S. Defense\nCommunications Agency worth 10.7 mln dlrs.\n The company said the three year contracts are for\nscientific and technical support at the Center for Command and\nControl Communications systems. The company has provided the\nservices since 1972.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:19:20.28",
"places": [
"usa"
],
"id": "15225"
},
{
"title": "SHOWBOAT <SBO> TO TAKE CHARGE, SEES 3RD QTR LOSS",
"body": "Showboat Inc will take a\ncharge of 19 to 20 mln dlrs pretax against results for the\nthird quarter ended March 31, director and assistant to the\npresident J. Kell Houssels III told Reuters.\n He said the charge results from pre-operating expenses of\nits recently-opened Atlantic City, N.J., Showboat Hotel, Casino\nand Bowling Center and will cause a loss for the third quarter\nand probably for all of fiscal 1987 as well.\n But Houssels said Showboat's earnings for fiscal 1988\nshould show a sharp increase from fiscal 1986 levels due to the\ncontribution of the new Atlantic City facility.\n Showboat earned 1,753,000 dlrs in last year's third\nquarter. For all of fiscal 1986 it earned 5,769,000 dlrs.\n Houssels said Showboat since the opening of the Atlantic\nCity hotel/casino, Showboat has had to start charging interest\nexpenses connected with debt it sold to finance the facility\ndirectly against income rather than capitalizing the interest\nas it had been able to do previously.\n Showboat opened the hotel during its third quarter and\ngaming began last Thursday on a regular basis after test gaming\nwas completed earlier in the week.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:19:32.05",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15226"
},
{
"title": "SECURITY PACIFIC <SPC> LOANS PUT ON NON-ACCRUAL",
"body": "Security Pacific Corp said it is\nplacing medium and long-term loans to Brazil and Ecuador on a\nnon-accrual basis as of March 31, a move that will reduce first\nquarter earnings by 7.2 mln dlrs, or nine cts per share, after\ntaxes.\n Despite the anticipated reduction to quarterly earnings,\nSecurity Pacific said it still expects to report first quarter\nearnings higher than the 88 mln dlrs, or 1.11 dlrs per share\nreported for the first quarter of 1986.\n The bank holding company said the action affects 401 mln\ndlrs of loans to Brazil and 73 mln of loans to Ecuador.\n Brazil suspended interest payments on its 68 billion dlrs\nof medium- and long-term debt on February 20.\n Ecuador, which has foreign debt of roughly eight billion\ndlrs, has not paid any interest to foreign banks since\nFebruary.\n In March Ecuador said it would suspend interest payments\nfor the rest of the year because of an earthquake which halted\nthe export of oil, which accounts for about 75 pct the\ncountry's export revenues.\n In its announcement, Security Pacific said it will record\ninterest income only as it is received in cash.\n The company also said it believes that Brazil will reach an\nagreement with its banks and that interest payments will resume\nlater in 1987.\n The Brazilian negotiations resume on Friday in New York\nwhen Central Bank Governor Francisco Gros is expected to ask\nbanks for a 90-day roll-over of some 9.5 billion dlrs of term\ndebt that matures on April 15.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:23:05.12",
"topics": [
"earn"
],
"places": [
"usa",
"brazil",
"ecuador"
],
"id": "15227"
},
{
"title": "CONSERVATIVE LEAD DROPS IN NEW U.K. OPINION POLL",
"body": "A British opinion poll showed the ruling\nConservative party was still ahead of Labour and the\nLiberal-Social Democratic Alliance, but support appeared to be\ndeclining, raising the spectre of an inconclusive election\nresult.\n The Marplan poll, to be published in tomorrow's Guardian\nnewspaper, showed support for the Conservative party stood at\n38 pct against 32 pct for Labour and 27 pct for the Alliance.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:24:25.21",
"places": [
"uk"
],
"id": "15228"
},
{
"title": "GROUP OF FIVE MEETING CONCLUDES, LAWSON, STOLTENBERG DECLINE COMMENT\n",
"date": " 8-APR-1987 14:24:30.87",
"id": "15229"
},
{
"title": "IRAQI TROOPS REPORTED PUSHING BACK IRANIANS",
"body": "Iraq said today its troops were pushing\nIranian forces out of positions they had initially occupied\nwhen they launched a new offensive near the southern port of\nBasra early yesterday.\n A High Command communique said Iraqi troops had won a\nsignificant victory and were continuing to advance.\n Iraq said it had foiled a three-pronged thrust some 10 km\n(six miles) from Basra, but admitted the Iranians had occupied\nground held by the Mohammed al-Qassem unit, one of three\ndivisions attacked.\n The communique said Iranian Revolutionary Guards were under\nassault from warplanes, helicopter gunships, heavy artillery\nand tanks.\n \"Our forces are continuing their advance until they purge\nthe last foothold\" occupied by the Iranians, it said.\n (Iran said its troops had killed or wounded more than 4,000\nIraqis and were stabilising their new positions.)\n The Baghdad communique said Iraqi planes also destroyed oil\ninstallations at Iran's southwestern Ahvaz field during a raid\ntoday. It denied an Iranian report that an Iraqi jet was shot\ndown.\n Iraq also reported a naval battle at the northern tip of\nthe Gulf. Iraqi naval units and forces defending an offshore\nterminal sank six Iranian out of 28 Iranian boats attempting to\nattack an offshore terminal, the communique said.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 14:25:27.74",
"topics": [
"crude"
],
"places": [
"iran",
"iraq"
],
"id": "15230"
},
{
"title": "UAL RISES ON RUMORS THAT CONISTON PARTNERS IS TAKING POSITION IN STOCK, TRADERS SAY\n",
"date": " 8-APR-1987 14:28:44.57",
"id": "15231"
},
{
"title": "ASHTON-TATE <TATE> NAMES SENIOR SCIENTIST",
"body": "Ashton-Tate Corp said it\nappointed Harry Wong to the newly created position of senior\nscientist.\n Wong, formerly of the University of California's Lawrence\nBerkeley Laboratory, will provide technical direction in\nadvanced database architectures and structured query language,\nSQL, a computer language.\n The company also said it is acquiring technology to develop\na future database product that incorporates SQL.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:31:00.20",
"places": [
"usa"
],
"id": "15232"
},
{
"title": "GOLDEN ENTERPRISES INC <GLDC> 3RD QTR FEB 28 NET",
"body": "Shr 15 cts vs nine cts\n Qtly div six cts vs six cts in prior qtr\n Net 2,002,261 vs 1,168,638\n Revs 29.2 mln vs 29.3 mln\n Avg shrs 13.1 mln vs 13.0 mln\n Nine mths\n Shr 49 cts vs 36 cts\n Net 6,404,536 vs 4,623,295\n Revs 92.2 mln vs 88.2 mln\n Avg shrs 13.1 mln vs 13.0 mln\n NOTE: Dividend is payable April 30 to holders of record\nApril 20\n Reuter\n\u0003",
"date": " 8-APR-1987 14:32:40.34",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15233"
},
{
"title": "GROUP OF FIVE MEETING ENDS",
"body": "A meeting of finance ministers and\ncentral bankers of the Group of Five ended after nearly three\nand a half hours.\n West German Finance Minister Gerhard Stoltenberg and\nBritish Chancellor of the Exchequer Nigel Lawson declined to\ncomment on the meeting as they emerged from the U.S. Treasury.\n A European monetary official said the ministers of the\nGroup of Seven countries would gather at about three p.m. local\n(1900 GMT) at the Treasury.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:33:37.00",
"topics": [
"money-fx"
],
"places": [
"usa"
],
"id": "15234"
},
{
"title": "SIEMENS AG UNIT AND NEC <NIPNY> UNIT IN PACT",
"body": "Siemens Information Systems\nInc, a unit of <Siemens AG> of West Germany, has reached an\nagreement in principle with NEC America Inc, a unit of NEC Corp\nof Japan, allowing Siemens Information's Tel Plus\nCommunications Inc subsidiary to continue distributing NEC's\nNEAX2400 Information Management System.\n Siemens Information said the three year agreement will allow\nTPC to market all current and future NEAX2400 models over the\ncontract's term.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:35:55.54",
"places": [
"usa",
"japan"
],
"id": "15235"
},
{
"title": "NASD SETS FILING DEADLINES FOR BROKERS/DEALERS",
"body": "The National Association of\nSecurities Dealers Inc said it set April 15 as the deadline for\ngovernment securities brokers and dealers to submit\napplications for registration under new rules.\n It said the rules apply to unregulated brokers and dealers,\nwho must be registered with the Securities and Exchange\nCommission by July 25.\n NASD said it could guarantee brokers and dealers would meet\nthe July 25 deadline if it received application materials by\nApril 15. After April 15, it said it will make every effort to\nmeet the July 25 deadline, but could not guarantee it.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:49:21.58",
"places": [
"usa"
],
"id": "15236"
},
{
"title": "USDA TO PROPOSE FOREIGN MEAT INSPECTION RULE",
"body": "The U.S. Agriculture Department is\npreparing a proposal that would require all foreign meat\nproducts to be inspected at their point of arrival in the\nUnited States, a USDA official said.\n Donald Houston, administrator of USDA's Food Safety and\nInspection Service, FSIS, told a House Agriculture subcommittee\nUSDA was developing a proposed change in regulations that would\nput an end to the current practice of permitting foreign meat\nproducts to be unloaded at one port and inspected at another\nport.\n Houston said the requirement would be phased in over\nseveral years to \"avoid disruptions and economic hardship.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 14:53:17.91",
"topics": [
"livestock"
],
"places": [
"usa"
],
"id": "15237"
},
{
"title": "UNION TEXAS OIL RESERVES DROPPED IN 1986",
"body": "Union Texas Petroleum said its worldwide\nproved reserves fell to 511 mln barrels of oil equivalent at\nthe end of 1986 from 555 mln barrels reported in 1985.\n In its newly released annual report, Union Texas said it\nreplaced about 71 pct of its production of 56 mln barrels of\noil equivalent last year after taking into account the sale of\n27 mln barrels of U.S. reserves.\n Union Texas, the nation's largest independent oil and gas\nproducer based on revenues, is a privately-held company owned\nby Kohlberg Kravis Roberts and Co and Allied-Signal Inc <ALD>.\n The Houston-based company said it lost 57.5 mln dlrs on\n1.26 billion dlrs in sales last year, compared to profits of\n165 mln dlrs on 2.04 billion dlrs in sales in 1985.\n Union Texas said it received an average of 13.35 dlrs per\nbarrel for its international oil production and 2.99 dlrs per\nmcf for its foreign natural gas sales. The majority of the\ncompany's total energy production is in the United Kingdom,\nIndonesia and Pakistan.\n In the United States, Union Texas said it completed\nevaluation work on its oil find in Alaska's Colville Delta\narea.\n \"Although significant oil reserves were confirmed,\ndevelopment of this discovery will not be economical without\nsubstantially higher prices,\" the company said.\n Union Texas said it planned to spend about 42 mln dlrs over\nthe next two years to develop its Eugene Island Block 371 in\nthe Gulf of Mexico.\n In 1987, the company said it budgeted 178 mln dlrs for\ncapital spending, less than half of the amount spent in 1985\nand down from 199 mln dlrs budgeted last year. Union Texas also\nsaid it would seek acquisitions of oil and gas properties as\nwell as petrochemical-related businesses.\n Reuter\n\u0003",
"date": " 8-APR-1987 14:55:03.37",
"topics": [
"crude",
"earn"
],
"places": [
"usa"
],
"id": "15238"
},
{
"title": "UAL <UAL> MAY RESPOND TO PILOTS TODAY",
"body": "UAL Inc may have a response this\nafternoon to the pilots union proposal to buy its United\nAirlines unit, a UAL spokesman said.\n \"Obviously, we have a lot of movement in our stock, and we\nneed to get a clarification out,\" the spokesman said, adding\nthat there was a \"50-50\" chance a statement would be released\ntoday.\n The pilots earlier this week offered to buy the airline for\n2.3 billion dlrs, and assume 2.2 billion dlrs of existing debt.\n Takeover speculation has driven UAL's stock for several\nweeks. UAL last month said New York Real estate developer\nDonald Trump held a position in its stock, and that he also\nheld discussions with its chairman.\n The developer indicated in those talks that he took the\nposition as an investment, but he revealed no other plans.\n Today, rumors circulated that Coniston Partners were buying\nUAL stock. UAL jumped five to 70-3/4 on volume of more than 3.2\nmln shares.\n \"United has got to consider this proposal. I think the\npilot's proposal is realistic. I don't exptect them to take it,\nbut it could put some interesting options in front of UAL\nmanagement,\" said Timothy Pettee, Bear Stearns and co analyst.\n Analysts have said UAL made itself vulnerable to attack\nwhen it diversified away from its core airline. It added Hertz\nrental cars, Westin and Hilton International hotels in a\nstrategy to become a travel service company.\n The strategy left its stock in a slump and its pilots union\nconcerned that the company was not focussing enough attention\non its airline.\n UAL has stood firm on its strategy. It is emphasizing its\nnew focus by changing its name to Allegis, as of May one.\n But takeover speculation has escalated, and Wall Street has\nbeen busy calculating break up values well in excess of 100\ndlrs per share. Traders today described the buying in UAL as\nwidespread, indicative to them that big institutions believe\nthe stock is in play.\n Market sources have said that although Trump attracted\nattention to the stock, the pilots proposal acted as a\ncatalyst, kicking off a new round of speculation and perhaps\nthrowing the company into the hands of another buyer.\n \"The first domino is you have an investor with a\nconsiderable stake. the second domino is the union. That type\nof attitude has been a precursor to airline deals in the past,\"\nsaid Pettee.\n \"What's interesting is the values are there. There's\nsomething for everybody,\" he said.\n\n Reuter\n\u0003",
"date": " 8-APR-1987 14:56:04.60",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15239"
},
{
"title": "HARTMARX <HMX> TARGETS EARNINGS GROWTH",
"body": "Hartmarx Corp, following a year of\nrestructuring, continues to target record earnings for fiscal\n1987, Chairman John Meinert told the annual meeting.\n Meinert reiterated an earlier comment that earnings for the\nremainder of the year must double the 1986 level to meet that\ngoal. In fiscal 1986, ended November 30, 1986, Hartmarx\nreported earnings of 24.8 mln dlrs, or 1.20 dlrs a share, down\nfrom the prior year's 42.7 mln dlrs, or 2.25 dlrs a share.\n The 110-year-old apparel manufacturer recently posted\nfirst-quarter earnings of 54 cts a share, up from 40 cts a year\nago.\n Meinert told shareholders Hartmarx has no plans to sell any\nof its divisions. He added, \"We have the financial capacity to\ntake advantage of acquisitions.\"\n In 1987, Meinert said the company will open five new and 10\nredesigned Kuppenheimer direct-to-consumer stores in Atlanta,\nDetroit, St. Louis, Washington, D.C. and San Francisco.\n He said the company's women's apparel continues to grow,\nand Hartmarx has on the drawing board a Briar concept store\nwhich will feature ties, shirts and some tailored clothing.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:02:11.19",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15240"
},
{
"title": "SALOMON <SB> SEES MORE STOCK GAINS WORLDWIDE",
"body": "Analysts at Salomon Brothers Inc say\nthe outlook for stock markets worldwide is postivie, although\ntotal returns in the U.S. stock market are not expected to\nexceed 10 pct over the next 12 months.\n The report by Robert Salomon Jr and Caroline Davenport said\nthat after a strong first quarter, which saw U.S. stock market\nindices rise more than 20 pct, the direction of the market is\nstill upward because slower economic growth will stretch out\nthe recovery period. The firm expects profits for companies in\nthe Standard and Poor's 500 stock index to rise 17 pct in 1987\nand 18 pct in 1988. \n The bullish global outlook is underpinned by continued but\nsubdued economic growth, fiscal restraint, good liquidity and\nincreasing profits, Salomon said.\n The Salomon analysts say potential risks which must be\nmonitored include any shift toward protectionism and foreign\nbuying of U.S. stocks particularly by the Japanese. \"A sharp\nrun-up in stock prices in secondary stocks\" would be a warning\nsign, as would a big increase in enthusiasm for the initial\npublic offering market,\" Salomon said.\n Salomon said global diversification of equity markets has\nreached a new peak.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:02:27.02",
"places": [
"usa"
],
"id": "15241"
},
{
"title": "FED'S HELLER SEES RETURN TO SLOWER MONEY SUPPLY GROWTH\n",
"date": " 8-APR-1987 15:03:03.51",
"topics": [
"money-supply"
],
"id": "15242"
},
{
"title": "GENERAL ELECTRIC CO 1ST QTR SHR 1.37 DLRS VS 1.18 DLRS\n",
"date": " 8-APR-1987 15:03:07.55",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15243"
},
{
"title": "GHANA TO BUY CRUDE OIL FROM IRAN",
"body": "Ghana will import 15,000 tonnes of crude\noil annually from Iran under an agreement reached in Tehran\ntoday, the Iranian news agency IRNA reported.\n The agency, received in London, said the accord was reached\nbetween Iranian Oil Minister Gholamreza Aqazadeh and a visiting\nGhanaian delegation headed by Foreign Minister Obed Asamoah.\n IRNA said that under the agreement, Iran will also provide\ntechnical and scientific assistance in manpower training and\noil exploitation, production and refining.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:04:59.32",
"topics": [
"crude"
],
"places": [
"uk",
"ghana",
"iran"
],
"id": "15244"
},
{
"title": "NEW HAMPSHIRE YANKEE TO SUBMIT EMERGENCY PLANS",
"body": "<New Hampshire Yankee> said it\nwill submit to the Nuclear Regulatory Commission emergency\nresponse plans for the six Massachusetts communities within a\n10-mile radius of the Seabrook Station.\n New Hampshire Yankee, a consortium of utility companies,\nsaid it is filing the plans because it claimed Massachusetts\nrefuses to cooperate with it in emergency planning.\n It said the 26-volume emergency plan was originally\nprepared for Massachusetts by the state Civil Defense Agency\nand emergency planning consultants.\n New Hampshire Yankee said submitting the plans was done in\nan effort to keep the Seabrook licensing process moving\nforward.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:05:31.68",
"places": [
"usa"
],
"id": "15245"
},
{
"title": "FED'S HELLER SAYS MONETARY GROWTH TO BE SLOWER",
"body": "Robert Heller, a member of the\nFederal Reserve Board, said he expects \"more modest levels\" of\ngrowth in the money supply this year.\n \"In my view, this would not only be a logical, but also a\nmost desireable development,\" he said in a speech prepared for\ndelivery to an economic forum at Chapman College in Orange,\nCalif.\n A text was released in Washington.\n He said the effect of lower inflation and financial\nderegulation on monetary aggregates was now largely finished.\n \"Consequently, monetary growth may return to more modest\nlevels,\" Heller said. He noted growth in the money supply slowed\nafter mid-January.\n \"I would not be surprised at all if the monetary aggregates\nwere to grow rather slowly during the balance of the year as\nwell,\" he added.\n Heller said there was a danger of renewed price inflation.\n \"The pricing behavior of American producers in response to\nprice increases of their foreign competitors will be crucial\nfor our economic future,\" he said.\n Widespread domestic price rises in response to rising\nimport prices would \"generalize the inflationary forces\nemanating from the foreign trade sector\" and might not gain more\nmarket share for U.S. producers.\n \"A return to the stagflation of the late 1970s may well be\nthe result of such a behavior pattern,\" Heller warned.\n He said \"we at the Federal Reserve will have to be\ndisciplined in our conduct of monetary policy.\" \n Heller said said the government should also exercise fiscal\ndiscipline and cut the deficit by spending restraint rather\nthan new taxes.\n \"The imposition of new taxes would tend to rekindle\ninflation and certainly would not make us more competitive in\ninternational markets,\" Heller said.\n He said the U.S. economy should expand by nearly three pct\nduring 1987, aided by higher exports to Europe and Canada.\n A free trade agreement currently being negotiated with\nCanada \"would be exceedingly helpful in allowing American\nproducers to compete more effectively in that country,\" Heller\nsaid.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:06:29.65",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15246"
},
{
"title": "GENERAL ELECTRIC CO <GE> 1ST QTR NET",
"body": "Shr 1.37 dlrs vs 1.18 dlrs\n Net 624 mln vs 537 mln\n Sales 8.32 billion vs 5.88 billion\n NOTE: Prior year does not include results of RCA Corp.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:08:22.36",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15247"
},
{
"title": "CHRYSLER, RENAULT EXTEND BY UP TO 2 WEEKS TIME FOR AMERICAN MOTORS ACCORD\n",
"date": " 8-APR-1987 15:09:02.01",
"id": "15248"
},
{
"title": "<NSA INC> OFFERS TO REPURCHASE OWN SHARES",
"body": "NSA Inc said, in an attempt to\ngo private and repurchase its shares, it is offering to\nexchange a five year subordinated investment note for each\nshare held by shareholders with more than 600 shares.\n NSA said the investment note will carry a face value of one\ndlr and will pay five annual principal installments, as well as\nquarterly interest payments on the outstanding principal amount\nat an eight pct annual rate.\n NSA added that for shareholders with less than 600 shares\nit is offering to purchase their shares for cash at one dlr per\nshare.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:13:12.58",
"places": [
"usa"
],
"id": "15249"
},
{
"title": "ENERGY DEVELOPMENT <EDP> HAD YEAR LOSS",
"body": "Energy Development Partners Ltd said\nit had an operating loss for the year ended December 31 of 2.4\nmln dlrs, or 40 cts per share.\n But it said a 41.5 mln dlr non-cash writeoff of oil and gas\nproperties taken in the first quarter resulted in a net loss of\n43.9 mln dlrs, or 7.21 dlrs per share.\n Energy Development Partners, is a limited partnership which\nbegan operating in September 1985.\n Full year revenues totaled 23.7 mln dlrs, the company also\nsaid.\n It said proved reserves at December 31 totaled 4.8 mln\nbarrels of oil and 88 mln cubic feet of natural gas.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:13:26.70",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15250"
},
{
"title": "KAUFMAN AND BROAD <KB> FILE STOCK OFFER",
"body": "Kaufman and Broad Inc said it\nregistered with the Securities and Exchange Commission to offer\nup to two mln shares of common stock.\n First Boston Corp and Merrill Lynch Capital Markets will be\nthe underwriters for the offering.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:16:17.11",
"places": [
"usa"
],
"id": "15251"
},
{
"title": "INDUSTRIAL NATIONS RECONVENE AT U.S. TREASURY FOR FURTHER TALKS\n",
"date": " 8-APR-1987 15:16:21.94",
"id": "15252"
},
{
"title": "INDUSTRIAL NATIONS RECONVENE FOR TALKS",
"body": "Financial ministers and central\nbankers of leading industrial nations reconvened here this\nafternoon.\n Canadian Finance Minister Michael Wilson said on entering\nthe meeting the ministers would review the Paris agreement.\nAsked if he was satisfied with West German and Japanese\nstimulus, Wilson replied, \"They could do a little more.\"\n French Finance Minister Edouard Balladur, meanwhile,\nconfirmed there would be a communique at the end of the\nmeeting.\n Finance ministers and central bankers of Britain, FRance,\nCanada and West Germany were seen by Reuter correspondents\nreturning to a Treasury building.\n Japanese officials and Bundesbank President Karl Otto Poehl\ndid not appear to have left the building at the end of earlier\nGroup of Five talks which broke up around 2 p.m. local time\n(1800 gmt).\n There was no sign, however, of the Italian delegation whose\nposition was thrown into question this morning by the\nresignation of the Christian Democratic wing of Italy's\nSocialist-led government.\n European monetary officials said later that the Italian\ndelegation was inside the building.\n This meant that a full blown meeting of the Group of Seven\nwas in progress.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:21:56.07",
"topics": [
"money-fx"
],
"places": [
"usa",
"canada",
"france",
"uk",
"west-germany",
"japan"
],
"id": "15253"
},
{
"title": "U.S. MEAT, POULTRY INSPECTION CALLED FAULTY",
"body": "The U.S. meat and poultry inspection\nprograms are incapable of protecting consumers from\ncontaminated products, groups representing inspectors and\nconsumers charged.\n \"The whole trend of inspection for the last 10 years has\nbeen to corrupt and to degrade the system where today the\npublic is at constant risk to contaminated and adulterated\nmeat,\" Kenneth Blaylock, president of the American Federation of\nGovernment Employees, told a House Agriculture subcommittee.\n \"The American consumer has little reason to feel confident\nabout the safety of meat and poultry being offered to him\ntoday,\" said Rodney Leonard, executive director of the Community\nNutrition Institute.\n \"Company management is less concerned about the risk to\nhealth than about raising plant output and company profits,\"\nLeonard told a hearing of the House Agriculture Subcommittee on\nLivestock, Dairy and Poultry.\n Kenneth Morrison, staff associate at the Government\nAccountability Project, said inspectors consistently disclose\nviolations of federal law, demonstrating a \"serious breakdown in\nthe entire inspection system.\"\n Morrison told of chicken fat for flavoring being\ncontaminated by \"intestines dragging in a water trough used to\nflush away the condemned product, fecal material, human spit,\nchewing gum and paper towels used by plant employees to blow\ntheir noses.\"\n Donald Houston, administrator of the U.S. Agriculture\nDepartment's Food Safety and Inspection Service, FSIS, defended\nthe government's program, calling it \"one of the most respected\npublic health programs in the world.\"\n FSIS inspects an estimated 127 mln head of cattle and 4.5\nbillion chicken and turkeys every year.\n Houston said inspection programs have kept pace with\nchange, but conceded that the danger of chemical residues in\nthe meat and poultry supply has increased.\n He also said that, although he was confident the bacterium\nsalmonella eventually could be eradicated, it would take time\nand much money to contain the growing problem.\n Salmonella, which in extreme cases can cause death, is\nfound in approximately 37 pct of U.S. broilers, 12 pct of raw\npork and three to five pct of raw beef, Houston said.\n The number of reported cases has doubled over the past 20\nyears, he said, to 40,000 cases annually.\n \"We certainly really have not found an effective means of\nturning this disease around,\" said Rep. James Olin (D-Va.)\n The National Research Council recommended in 1985 that FSIS\nintensify efforts to develop rapid diagnostic procedures for\ndetecting microoganisms.\n But the meat and poultry industries have said such controls\nwould cost too much.\n \"Hopefully we will not overreact by installing unnecessarily\ncomplicated procedures that may become obstacles to the real\ngoal of providing an increasingly safer, more nutritious and\neconomical meat supply for consumers,\" Stanley Emerling,\nexecutive vice president of the National Association of Meat\nPurveyors, said.\n Blaylock, speaking on behalf of food inspectors, said a new\nprogram allowing elimination of USDA inspection functions at\ncertain plants \"voids the law in letter and spirit, and must be\nrepealed or we will see rising consumer fraud and an epidemic\nof death and illness for which there will be no prevention nor\nlegal recourse.\"\n Subcommittee Chairman Charles Stenholm (D-Tex.) said the\npanel would hold a hearing on salmonella June 2.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:22:24.60",
"topics": [
"livestock",
"carcass"
],
"places": [
"usa"
],
"id": "15254"
},
{
"title": "CHRYSLER <C> RENAULT DELAY AM MOTORS <AMO> PACT",
"body": "Chrysler Corp and Regie Natiionale des\nUsines Renault said they agreed to extend by up to two weeks\nthe period for reaching definitive agreement on Chrysler's\nproposed 1.5 billion dlr takeover of American Motors Corp.\n The letter of intent signed by Chrysler and Renault on\nMarch nine set April nine as the target date for completing\nnegotiations.\n However, the letter also allowed room for an extension of\nthat date to April 23 if an agreement could not be reached.\n The two companies said they \"now plan to complete work by\nApril 23.\"\n Chrysler and Renault said, \"Given the complex nature of the\ndeal, the need for additional time was to be expected.\"\n The March letter of intent between the two companies says\nthat Chrysler could ask Renault to extend the agreement date\n\"in the event that prior to April 9, 1987, Chrysler discovers\nan unforeseen problem in the course of its 'due diligence'\ninvestigation of the company,\" referring to American Motors.\n A Chrysler spokeswoman would not say whether some problem\nhad cropped up in the talks. She stuck by the company's\nstatement that more time was needed because the talks are\ncomplex. \"That is our definition of the delay,\" she said.\n Under the previous agreement between Chrysler and Renault,\ntheir letter of intent would be terminated on April nine or\nwhen an agreement was reached. But the letter could be amendend\nby a written agreement by both companies.\n The Chrysler spokeswoman said, \"We are still working toward\na definitive agreement.\" Said another Chrysler official who is\nnot part of the talks but who would be told if the deal were in\ntrouble: \"There are no glitches.\"\n Analysts also downplayed the significance of the delay. \"I\ncan't visualize where they wouldn't want it to be done,\" said\nDonaldson Lufkin Jenrette analyst Richard Henderson.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:24:13.33",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15255"
},
{
"title": "GM EXTENDS CASH REBATES ON THREE CARS TO APRIL 30 FROM APRIL SIX\n",
"date": " 8-APR-1987 15:24:21.03",
"id": "15256"
},
{
"title": "PERRY DRUG <PDS> MARCH SALES UP 9.3 PCT",
"body": "Perry Drug Stores Inc said its\nMarch sales rose 9.3 pct to 60 mln dlrs from 55 mln dlrs in the\nsame month a year ago.\n Fiscal year-to-date (November through March) sales\nincreased 15 pct to 300 mln dlrs from 261 mln dlrs in the\ncomparable period of fiscal 1986, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:27:58.95",
"places": [
"usa"
],
"id": "15257"
},
{
"title": "RITE AID CORP <RAD> SETS DIVIDEND",
"body": "Qtly div 16-1/2 cts vs 16-1/2 cts\n Pay April 27\n Record April 20\n Reuter\n\u0003",
"date": " 8-APR-1987 15:28:24.71",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15258"
},
{
"title": "AIRSENSORS INC <ARSN> 3RD QTR JAN 31 LOSS",
"body": "Shr loss five cts vs loss six cts\n Net loss 696,777 vs loss 598,095\n Sales 472,812 vs 41,454\n Nine mths\n Shr loss 15 cts vs loss 17 cts\n Net loss 2,194,482 vs loss 1,751,884\n Sales 800,336 vs 151,884\n Reuter\n\u0003",
"date": " 8-APR-1987 15:28:49.15",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15259"
},
{
"title": "GULF AND WESTERN <GW> REORGANIZES UNIT",
"body": "Gulf and Western Inc's Madison Square\nGarden Corp subsidiary said it has reorganized into three\noperating groups including two new groups.\n The company said its MSG Sports group will continue to\noperate the New York Rangers National Hockey League team and\nthe New York Knickerbockers National Basketball Association\nteam.\n It said the new MSG Facilities Development and Management\nGroup will be responsible for all operating aspects of Madison\nSquare Garden Center and for planning and operation of the\nplanned new Madison Square Garden.\n The company said its new MSG Entertainment Group will\ninclude the Madison Square Garden Network sport-oriented pay\ntelevision operation, Madison Square Garden Event TV, which\nwill produce specials and non-episodic programming for network\ntelevision, pay television and first-run television\nsyndication, and Madison Square Garden Productions, which will\nproduce live entertainment including touring arena shows and\nconcerts.\n It said it expects the greatest growth from the MSG\nEntertainment Group.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:30:15.84",
"places": [
"usa"
],
"id": "15260"
},
{
"title": "TRIZEC COMPLETES OFFERING",
"body": "<Trizec Corp Ltd> said it\ncompleted its previously announced 171.25 mln dlr share\noffering consisting of five mln Class A subordinated voting\nordinary shares at 34.25 dlrs per share.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:31:09.26",
"places": [
"usa"
],
"id": "15261"
},
{
"title": "CANADA PLANS TO MONITOR STEEL IMPORTS, EXPORTS, TRADE MINISTER SAYS\n",
"date": " 8-APR-1987 15:32:46.05",
"topics": [
"trade",
"iron-steel"
],
"id": "15262"
},
{
"title": "GENERAL ELECTRIC <GE> 1ST QTR HELPED BY RCA",
"body": "General Electric Corp said its\nfirst quarter results were significantly higher due to the\nstrong results of RCA, which was acquired last year.\n General Electric also attibuted continued strong\nperformances in plastics, major appliances and the Employers\nReinsurance Corp for its strong quarter.\n GE recorded net earnings for the first quarter 1987 of 624\nmln dlrs, or 1.37 dls per shr, up 16 pct from 537 mln dlrs, or\n1.18 dlrs per share for the same quarter a year ago.\n General Electric chairman John Welch Jr reiterated the\ncompany's outlook for 1987 in which it expects double-digit GE\nearnings growth for the year. He said the first quarter results\nare in line with those expectations.\n General Electric cited the strong results in TV network and\nstation operations of the National Broadcasting Co, which was\nnot part of GE in the first quarter of 1986, as one reason for\nits strong earnings.\n It also noted that aircraft engine operating profit was\nmuch higher than a year ago, caused by a increase in shipments\nthan the 1986 quarter, which was impacted by a strike.\n Aerospace revenues were sharply higher in this year's first\nquarter from a year ago, mainly because of the inclusion of\nRCA's aerospace and defense business, the company said.\n In addition, consumer products revenues were up from last\nyear, mainly because of including sales of RCA video products.\n General Electric said restructuring provisions of 308 mln\ndlrs before taxes to implement various strategic moves were\ncharged against operations in the first quarter of 1987. It\nadded that there was a one-time gain of 281 mlns dlrs after\ntaxes from an inventory accounting change.\n And technical products revenues and operating profit were\nahead of last year, led by a strong increases in medical\nsystems volume and the inclusion this year of RCA's\ncommunications and related services.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:34:05.19",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15263"
},
{
"title": "TECK STILL IN TALKS ON B.C. COPPER VENTURE",
"body": "<Teck Corp> said it\nwas continuing talks about joining a joint copper venture at\nHighland Valley, British Columbia, held by affiliates Cominco\nLtd <CLT> and <Lornex Mining Corp>, but did not know when\nnegotiations would be completed.\n Teck vice-president of administration John Guminski said in\nreply to a query that the talks had been \"ongoing for a long\ntime.\" He declined to speculate on the outcome.\n Cominco, 29.5 pct owned by a consortium led by Teck, is\noptimistic that the talks will soon be concluded, spokesman Don\nTownson told Reuters.\n \"I think all partners are hopeful that the situation will be\nresolved,\" Cominco's Townson said.\n \"We're optimistic that they will be concluded shortly,\" he\nadded. Townson declined to specify when the talks might end.\n Cominco and Teck's 22 pct-owned Lornex agreed in January\n1986 to form the joint venture, merging their Highland Valley\ncopper operations.\n Cominco and Lornex share equally in control and management\nof the Highland Valley operations, while Cominco has a 55 pct\nshare of production and Lornex receives 45 pct.\n For the six months following July 1, 1986, when the venture\nofficially started production, Highland Valley had total ore\nmilled of 22.6 mln short tons, grading an average of 0.41 pct\ncopper, Townson said.\n Cominco's share of production was 43,000 short tons of\ncopper contained in concentrate, 1,200 short tons of Molybdenum\nin concentrate, 340,000 ounces of silver and 800 ounces of\ngold, he said.\n A consortium, 50 pct owned by Teck and 25 pct each by MIM\n(Canada) Inc and Metallgesellschaft Canada Ltd, acquired its\nCominco stake last year from Canadian Pacific Ltd <CP>.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:34:13.45",
"topics": [
"copper"
],
"places": [
"canada"
],
"id": "15264"
},
{
"title": "BANPONCE CORP <BDEP> 1ST QTR NET",
"body": "Shr 1.08 dlrs vs 1.00 dlr\n Net 6,215,538 vs 5,757,013\n Reuter\n\u0003",
"date": " 8-APR-1987 15:34:16.03",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15265"
},
{
"title": "AIRLINE FARE DISCLOSURE BILL PROPOSED IN SENATE",
"body": "Angered by late flights and\ncomplicated restrictions on discount air fares, a senator has\nintroduced legislation to make airlines provide more details on\nfares and schedules in their advertisements.\n Sen. Frank Lautenberg, the bill's sponsor, said airline ads\nnow are often misleading because they do not give prospective\npassengers enough facts about discount fares.\n \"Air travelers are lured by low advertised fares which\nsimply aren't available,\" the New Jersey Democrat said in a\nstatement. \"It's the old bait and switch.\"\n Airline advertisements usually say discount seats are\nlimited, but Lautenberg said more information was needed.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:37:00.50",
"places": [
"usa"
],
"id": "15266"
},
{
"title": "E.F. HUTTON <EFH> SETS FINANCES TELEPHONE DEAL",
"body": "E.F. Hutton Group Inc said it is\nproviding financing for the previously announced acquisition of\n<Virgin Islands Telephone Co> by <Atlantic Tele-Network Co>.\n Terms of the financing were not disclosed.\n Virgin Islands Telephone, which operates telephone systems\nin the U.S. Virgin Islands, handles about 1.5 mln local calls\nper week and one mln long-distance calls per month, the company\nsaid.\n\n Reuter\n\u0003",
"date": " 8-APR-1987 15:37:06.82",
"places": [
"usa",
"us-virgin-islands"
],
"id": "15267"
},
{
"title": "GENERAL AUTOMATION <GENA> SETS JOINT VENTURE",
"body": "General Automation Inc said it\nsigned a joint venture with Madrid, Spain-based Ingenieria De\nSistemas Electronics S.A.\n The pact establishes General Automation Iberica S.A. as a\nlocal manufacturer and master distributor of General\nAutomation's ZEBRA multi-user business systems in Spain and\nPortugal.\n General Automation Iberica will be equally financed by\nGeneral Automation and Ingenieria.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:38:12.21",
"places": [
"usa",
"spain"
],
"id": "15268"
},
{
"title": "MINNETONKA <MINL> NOT PART OF UPJOHN <UPJ> SUIT",
"body": "Minnetonka Inc said that\nneither its Foltene hair treatment nor its European supplier,\nCrinos Industria Farmacobiologica SpA, are named or involved in\naction filed by Upjohn Co.\n Earlier today, Upjohn said it filed a complaint with the\nInternational Trade Commission requesting an investigation of\ninfringement of its patent for the drug, Minoxidil, used in its\ntreatment for baldness.\n Minnetonka said it decided to make a statement to \"dispell\nany association it may be involved\" with the suit. Foltene does\nnot use compositions of Minoxidil, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:39:01.93",
"places": [
"usa"
],
"id": "15269"
},
{
"title": "XEBEC <XEBC> TO REPORT 2ND QTR LOSS",
"body": "Xebec Corp said it expects to\nreport a loss for its second quarter ended April three, due\nprincipally to a decline in sales to International Business\nMachines Corp <IBM>, the company's largest customer.\n Xebec also said it expects revenues to total about 23 mln\ndlrs.\n The company reported a second quarter loss last year of 1.9\nmln dlrs, or 14 cts per share, on 23.9 mln in revenues.\n Xebec said IBM has historically accounted for about 50 pct\nof the company's revenues, but that total fell to 20 pct during\nthe quarter just ended.\n IBM had used Xebec's hard disk drive controller products in\nthe IBM PC/XT, a product which IBM is phasing out.\n Xebec said it intends to continue streamlining its\noperations in light of the loss of business.\n The company also said it has already consolidated two of\nits plants in Nevada and it now plans to sell unused and\nsurplus assets to provide additional liquidity.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:39:33.72",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15270"
},
{
"title": "CCC ACCEPTS EXPORT BID FOR WHEAT FLOUR TO IRAQ",
"body": "The Commodity Credit Corporation has\naccepted a bid for an export bonus to cover a sale of 12,500\ntonnes of wheat flour to Iraq, the U.S. AGriculture Department\nsaid.\n The bonus awarded was 113.0 dlrs per tonne and will be paid\nto Peavey Company in the form of commodities from CCC stocks.\n The wheat flour is for delivery May 15-June 15, 1987, the\ndepartment said.\n An additional 162,500 tonnes of wheat flour are still\navailable to Iraq under the Export Enhancement Program\ninitiative announced January 7, 1987, USDA said.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:39:56.00",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"iraq"
],
"id": "15271"
},
{
"title": "SAUDI AMERICAN BANK OPENS BRANCH IN LONDON",
"body": "Saudi American Bank (SAMBA) will\nconcentrate on treasury activities and be an active market\nmaker in Saudi riyal foreign exchange through the new branch\nthat opened here, Shaukat Aziz, SAMBA managing director said.\n He told Reuters that SAMBA also will be active in corporate\nbanking, correspondent banking and investment management. It\nalso plans to develop trade financing between the Middle East\nand Europe and be active in the Eurocurrency and sterling\ndeposit markets.\n SAMBA is 40 pct owned by Citicorp of the U.S. And the\nbalance is held by Saudi shareholders.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:41:03.97",
"places": [
"saudi-arabia",
"uk"
],
"id": "15272"
},
{
"title": "EGYPT AUTHORIZED TO BUY PL-480 WHEAT - USDA",
"body": "Egypt has been authorized to purchase\nabout 200,000 tonnes of U.S. wheat under an existing PL-480\nagreement, the U.S. Agriculture Department said.\n It may buy the wheat, valued at 22.0 mln dlrs, between\nApril 15 and August 31, 1987, and ship it from U.S. ports by\nSeptember 30, the department said.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:42:21.53",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"egypt"
],
"id": "15273"
},
{
"title": "CATERPILLAR <CAT> REAFFIRMS FIRST QUARTER OUTLOOK",
"body": "Caterpillar Inc, in remarks\ndelivered at its annual meeting in San Francisco, reiterated\nits expectation of a loss in the first quarter.\n It said results would be hurt by a 25 mln dlr one-time\ncharge by Caterpillar Mitsubishi, a 50-pct owned affiliate. The\ncompany said it expected profit from operations for the full\nyear to improve over 1986.\n In remarks prepared for delivery to shareholders, President\nPeter Donis said Caterpillar's targeted five pct cost reduction\nin 1987 \"will be difficult to achieve because the weaker dollar\nhas limited opportunities to obtain lower material costs.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 15:43:02.47",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15274"
},
{
"title": "INSPIRATION RESOURCES VENTURE PLANS TO GO PUBLIC",
"body": "Mingold Resources, a newly formed gold\ncompany equally owned by Inspiration Resources Corp <IRC> and\n<Minorco Canada Ltd>, said it plans to be a publicly traded,\nself-financing gold mining company within three to four years.\n Mingold currently manages Hudson Bay Gold Inc and Farley\nGold Inc, both wholly owned units of Inspiration.\n The company said Hudson Bay and Minorco have agreed to\nexplore and, if warranted, to develop the Metalore gold\nproperty near Beardmore, Ontario, after Metalore satisfactorily\nsettles an action filed against it by <Ontex Resources Ltd>. A\nwork program that includes drilling will begin shortly, Mingold\nsaid.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:44:07.75",
"places": [
"canada"
],
"id": "15275"
},
{
"title": "BROKER BOOSTS ZONDERVAN <ZOND> STAKE TO 7.1 PCT",
"body": "An investor group headed by\nMinneapolis, Minn., broker Jeffrey Wendel said it raised its\nstake in Zondervan Corp to 292,900 shares, or 7.1 pct of the\ntotal outstanding, from 238,900 shares, or 5.8 pct.\n In a filing with the Securities and Exchange Commission,\nthe Wendel group said it bought 54,000 Zondervan common shares\nbetween March 24 and April 3 at prices ranging from 27.87 to\n29.96 dlrs a share.\n The Wendel group has acted in cooperation with another\nshareholder group headed by London investor Christopher Moran,\nwho sought unsuccessfully last year to take over Zondervan.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:47:37.30",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15276"
},
{
"title": "CORVUS SYSTEMS <CRVS> NAMES NEW PRESIDENT",
"body": "Corvus Systems Inc said it\nnamed Lewis Lipton its president and chief operating officer.\n Lipton had been consulting for Corvus for the past nine\nmonths and prior to that was the chief executive officer of\nTrimedia Corp.\n He reports to James Siehl, who had been acting as president\nand continues as chief executive officer. Siehl was also named\nChairman of the Board, which he had also been acting as.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:50:29.61",
"places": [
"usa"
],
"id": "15277"
},
{
"title": "KIENA TWO-FOR-ONE SHARE SPLIT APPROVED",
"body": "<Kiena Gold Mines Ltd> said shareholders\napproved a previously reported proposed two-for-one common\nstock split.\n Record date of the split will be April 21, Kiena said.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:50:48.18",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15278"
},
{
"title": "AMERICA WEST <AWAL> REPORTS LOWER LOAD FACTOR",
"body": "America West Airlines Inc said\nits March load factor fell to 58.7 pct from 69.8 pct a year\nearlier and its year-to-date load factor dropped to 56.6 pct\nfrom 60.4 pct during the same period of 1986.\n March revenue passenger miles rose to 422.1 mln from 280\nmln and year-to-date revenue miles were up to 1.15 billion from\n701.9 mln.\n Available seat miles for the month increased to 719.2 mln\nfrom 401 mln and for the first three months of the year\navailable miles totaled 2.04 billion, up from 1.16 billion\nduring a same period a year earlier, America West said.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:51:36.10",
"places": [
"usa"
],
"id": "15279"
},
{
"title": "HANOVER INSURANCE <HINS> RAISES DIVIDEND",
"body": "Hanover Insurance Co said its\nboard declared a quarterly dividend of nine cts per share\npayable May 15 to holders of record April 17.\n The dividend comes after a two-for-one stock split,\neffective April 10, which was approved by shareholders today.\n The company paid a dividend of 14 cts per share on a\npre-split basis.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:52:35.12",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15280"
},
{
"title": "DAY INT'L <DAY> TO SELL UNIT",
"body": "Day International Corp said it has\nentered into a letter of intent to sell its Allen Industries\nInc unit to a group including the unit's current management.\n Day said the sale could enable Day to accelerate its\nearnings for its current fiscal year ending October 31, 1987.\n \"Net earnings for the full year (ending October 31)\nshould be in the ball park of some analysts' estimates of 16\nmln dlrs to 19 mln dlrs,\" Richard Jacob, Day chairman and chief\nexecutive officer said.\n Day reported earnings of 3.1 mln dlrs, or 39 cts a share,\nin fiscal 1986.\n Day said the agreement is subject to the preparation and\nnegotiation of a definitive agreement and the ability of the\ngroup to obtain financing.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:53:17.19",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15281"
},
{
"title": "KANSAS POWER/LIGHT <KAN> NAMES CHIEF EXECUTIVE",
"body": "Kansas Power and Light Co said it\nnamed David Black as chief executive officer. It said he will\nsucceed William Wall after the May Five annual meeting.\n It said Black is the company's senior vice president, law.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:54:04.41",
"places": [
"usa"
],
"id": "15282"
},
{
"title": "RITE AID CORP <RAD> SETS QUARTERLY DIVIDEND",
"body": "Qtly div 16.5 cts vs 16.5 cts\n Pay April 27\n Record April 20\n Reuter\n\u0003",
"date": " 8-APR-1987 15:54:31.92",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15283"
},
{
"title": "SHULTZ SAYS \"SHADOW\" CAST OVER HIS USSR VISIT",
"body": "U.S. Secretary of State George\nShultz said the Marines spy case had cast a \"heavy shadow\" over\nhis scheduled talks in Moscow next week.\n \"Unfortunately, as is so often the case when we are in the\nmidst of potentially promising discussions with the Soviets,\nthe discussions take place in a difficult environment generated\nby their actions, and these things cast a heavy shadow on our\ndiscussions,\" he told reporters.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:54:55.54",
"places": [
"usa",
"ussr"
],
"id": "15284"
},
{
"title": "GROUP OF 24 CALLS FOR DEBT RELIEF AND \"NEW ATTITUDE\" BY BANKS\n",
"date": " 8-APR-1987 15:55:21.06",
"id": "15285"
},
{
"title": "AIRBUS SIGNS ACCORD ON CFM ENGINE FOR A340 PLANE",
"body": "The European <Airbus Industrie> consortium\ntoday formally signed an agreement with the Franco-U.S. Group\n<CFM International> for an improved version of the CFM56-5\nengine to power the A340-200 and A340-300 aircraft, an Airbus\nstatement said.\n Airbus said yesterday that it chosen the CFM56-5-S3 engine,\nto be produced by <General Electric> of the U.S. And <SNECMA of\nFrance, because the <International Aero Engine> (IAE) high\ntechnology superfan engine would not be ready by early 1992,\nwhen the A340 plane is due to become operational.\n The five-nation IAE consortium has decided not to go ahead\nwith the proposed launch of the superfan, a spokesman for\nconsortium member <Rolls-Royce Plc> said today, adding that the\nproject had not been cancelled and could be offered later on.\n Airbus said the CFM56-5-S3 will have a thrust of 30,600 lbs\nand an improved fuel burn of four per cent compared with the\nCFM56-5A1 which is now being operated on the A320 flight-test\naircraft. It will be available for deliveries of the A340 in\nMay 1992.\n At the same time, the Airbus statement said Airbus\nIndustrie and General Electric have concluded an accord for an\nimproved version of the GE CF6-80C2 engine, with 64,000 lbs of\nthrust and a three per cent improvement in specific fuel\nconsumption, to power the A330 aircraft which will be\nintroduced in spring 1993.\n \"This continues the long-standing history of all Airbus\nlaunches being made with either GE or CFMI engines,\" Airbus\nIndustrie president Jean Pierson said in the statement.\n \"Airbus Industrie has already worked with CFMI to launch one\nnew aircraft programme - the A320 - in early 1984, and is happy\nto build on this relationship by launching the A340 with an\nimproved version of the same engine,\" Pierson said.\n Airbus Industrie said it has so far received a total of 128\ncommitments for the A340 and A330 from nine customers.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:57:01.32",
"places": [
"france"
],
"id": "15286"
},
{
"title": "SOUTH KOREA CORN IMPORTS MAY INCREASE - USDA",
"body": "South Korea's purchase of about 2.4\nmln tonnes of U.S. corn in the past six months -- close to\ndouble last year's total -- indicates that imports from the\nUnited States, as well as total imports are set for a dramatic\njump, the U.S. Agriculture Department said.\n In its World Production and Trade Report, the department\nsaid total South Korea corn imports for the 1986/87 season\n(Oct-Sept) are estimated at 4.3 mln tonnes, with about 3.4 mln\ntonnes from the United States.\n During the 1985/86 season, imports totaled only 1.3 mln\ntonnes of U.S. corn out of a total of 3.6 mln tonnes.\n Ite appears the Koreans are shifting back to U.S. corn in\nlight of competitive U.S. prices and uncertain supplies from\nChina, Argentina and South Africa, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 15:59:39.88",
"topics": [
"grain",
"corn"
],
"places": [
"usa",
"south-korea",
"china",
"argentina",
"south-africa"
],
"id": "15287"
},
{
"title": "GROUP OF 24 COUNTRIES CALLS FOR DEBT RELIEF",
"body": "The Group of 24 developing countries\nsaid in a communique that some kind of debt relief is necessary\nand called for \"a new attitude\" on the part of the banks.\n The communique, released in conjunction with the semiannual\nmeetings of the International Monetary Fund and the World Bank,\nsaid the very low income countries needed a cancellation of\ndebt to industrial countries, a conversion of part of their\ndebt into grants and a rescheduling on concessional terms.\n For some other countries, the communique said, the debt\ncannot be properly serviced if the countries are to grow at the\nsame time.\n \"The debt overhang effects the capacity to grow as it\nreduces the ability to import,\" the communique said.\n It added: \"Some kind of debt relief and a new attitude on\nthe part of the banks is necessary.\"\n The communique added that debtor countries and banks have\nto explore new market mechanisms, debt into equity swaps,\ncapitalization of interest and writeoffs.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:01:10.82",
"places": [
"usa"
],
"id": "15288"
},
{
"title": "PERU DECREES FIRMS SHOULD BUY TREASURY BONDS ",
"body": "the Peruvian government decreed that a wide\nrange of firms would have to earmark between 20 and 30 pct of\ntheir 1986 net profits to buy treasury bonds this year.\n A presidential decree said that banking, financial and\ninsurance firms as well as bottling and tobacco industries with\n1986 sales of more than 1.6 mln intis would have to earmark 30\npct of their net profits from last year to buy the bonds.\n The bonds would be redeemed over the next two years and\ntheir interest rate would be set by the central bank. Textile,\ncommercial and fishing canneries with sales over 1.24 mln intis\nwould have to buy bonds equal to 20 pct of profits.\n The firms would have to buy the bonds between April and\nDecember 1987.\n The decree said the government adopted the move to obtain\nfinancing for high-priority investment projects, which it did\nnot specify.\n The economy ministry says it aims to keep the public\nsector's budget deficit to between five and six pct of the\ngross domestic product (gdp).\n Last year, the deficit was six pct of gdp, according to the\ncentral bank.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:01:39.34",
"places": [
"peru"
],
"id": "15289"
},
{
"title": "MEXICAN CATTLE IMPORTS TO BE BRANDED - USDA",
"body": "All steers imported into the United\nStates from Mexico must now be branded with the letter M on the\nright jaw, the U.S. Agriculture Department said.\n In its World Production and Trade Report, the department\nsaid the branding is necessary to improve surveillance for\nbovine tuberculosis because it provides a permanent way to\nidentify Mexican steers.\n The requirement is not expected to affect the number of\nMexican steers imported into the United States and the brand\nwill be applied before the animals arrive at U.S. ports of\nentry.\n Last November, the Mexican Government authorized an export\nquota of nearly 1.1 mln head of live cattle for the 1986/87\nseason (Aug-July), most of which goes to the United States.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:05:10.65",
"topics": [
"livestock",
"l-cattle"
],
"places": [
"usa",
"mexico"
],
"id": "15290"
},
{
"title": "GENERAL MOTORS <GM> EXTENDS CHEVROLET REBATES",
"body": "General Motors Corp's Chevrolet\nMotor Division said it extended its cash rebates to April 30 on\nthree of its cars and to June 30 on a fourth.\n A fifth car, the Cavalier, was dropped from the program\nafter rebates on all five cars expired April six.\n Terms of the program were not changed. The Chevrolet\ndivision said buyers of its Celebrity and Camaro cars between\nyesterday and April 30 are eligible to receive 1,000 dlrs\nrebate, while buyers of the Nova can receive 750 dlrs.\n Spectrum customers are eligible for a 500 dlrs rebate until\nJune 30.\n\n Reuter\n\u0003",
"date": " 8-APR-1987 16:07:04.60",
"places": [
"usa"
],
"id": "15291"
},
{
"title": "VULCAN <VUL> SEES FIRST QUARTER OPERATING LOSS",
"body": "Vulcan Corp's first quarter operating\nresults will show a loss, Chairman Lloyd I. Miller told told\nthe annual meeting.\n The company reported a profit of 365,883 dlrs, 23 cts a\nshare, for the first quarter last year with one cent a share\ncoming from non-operating factors, a spokesman said.\n Miller attributed the expected loss to completion of the\npurchase transfer and consolidation of operating assets of the\nO'Sullivan Rubber Division, saying this was proving more costly\nand taking more time than originally anticipated.\n Vulcan is working to resolve the problems, Miller told\nshareholders, adding it appears it will take most of 1987 to\nfind solutions.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 16:07:33.05",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15292"
},
{
"title": "DETROIT EDISON <DTE> SELLS BONDS IN TWO TRANCHES",
"body": "Detroit Edison Co is raising 400 mln\ndlrs through a two-tranche offering of general and refunding\nmortgage bonds, said sole manager Morgan Stanley and Co Inc.\n A 175 mln dlr issue of bonds due 1997 was given an 8-3/4\npct coupon and priced at 99.375 to yield 8.845 pct, or 128\nbasis points over comparable Treasury securities.\n A companion 225 mln dlr offering of 27-year bonds was given\na 9-3/4 pct coupon and priced at 99.625 to yield 9.79 pct, or\n180 basis points over Treasuries.\n Both tranches are non-refundable for five years and rated\nBaa-2 by Moody's and BBB by Standard and Poor's.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:08:27.40",
"places": [
"usa"
],
"id": "15293"
},
{
"title": "UAL <UAL> HAS NO COMMENT ON STOCK RISE",
"body": "UAL Inc, citing company policy, told\nthe New York Stock Exchange it would not comment on the unusual\nrise in its stock.\n UAL, parent of United Airlines, closed up 6-1/4 at 72 on\nvolume of 3.9 mln shares.\n Wall Street traders said UAL's stock soared in response to\nthe the proposed 4.6 billion dlr buyout offer by United Air's\npilots union and on a general rise in air fares throughout the\nindustry.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:08:52.19",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15294"
},
{
"title": "STRATA CORP <STATA> YEAR DEC 31 LOSS",
"body": "Shr loss 1.11 dlrs vs loss 1.53 dlrs\n Net loss 7.1 mln vs loss 8.8 mln\n Revs 3.1 mln vs eight mln\n Reuter\n\u0003",
"date": " 8-APR-1987 16:11:08.06",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15295"
},
{
"title": "STRATA <STATA> 1986 EARNINGS REPORT QUALIFIED",
"body": "Strata Corp said its 1986\nearnings report contained a qualified opinion from its\nindependent auditors.\n Strata said it owed 1.4 mln dlrs in overdue interest to its\nlender at the end of 1986, and the entire 10.9 mln dlr\nprinciple has been classified as a liability.\n The company, which has an agreement to merge with <Lomak\nPetroleum Inc>, lost 7.1 mln dlrs in 1986 against a loss of 8.8\nmln dlrs a year earlier.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:12:58.92",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15296"
},
{
"title": "N.Y. THRIFTS HAD RECORD MORTGAGE LOANS IN 1986",
"body": "The Federal Home Loan Bank Board of New\nYork said mortgage loans acquired by member institutions in\n1986 rose 54 pct from the prior record made in 1985.\n Fouth-quarter mortgage lending by the 98 New York thrifts\nrequired to report was nearly 75 pct above the lending volume\nof the same 1985 period. Mortgage loans acquired - comprising\ntotal mortgage loans closed and mortage loans and\nparticipations purchased - were 5.3 billion dlrs in the fourth\nquarter and 15 billion for the year.\n Total mortgages outstanding for New York members were 58.8\nbillion dlrs on December 31 versus 50.7 billion at end-1985.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:13:30.34",
"places": [
"usa"
],
"id": "15297"
},
{
"title": "VMS SHORT TERM <VST> TO FUND LOAN INCREASE",
"body": "VMS Short Term Income Trust said it\nagreed to commit to fund a 1.8 mln dlrs loan increase for 1420\nK Street, a 12-story, 60,000 square foot office building in\nWashington, D.C.\n The trust previously approved a 2.9 mln dlr loan for the\nproperty, making the total loan 4.7 mln dlrs.\n VMS said the increased financing will have an initial term\nof six months and will include a one pct participation in the\nnet appreciation of the property upon sale or refinancing.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:14:08.42",
"places": [
"usa"
],
"id": "15298"
},
{
"title": "DAYTON HUDSON CORP <DH> VOTES QUARTERLY PAYOUT",
"body": "Qtly div 23 cts vs 23 cts prior qtr\n Pay 10 June\n Record 20 May\n Reuter\n\u0003",
"date": " 8-APR-1987 16:14:18.82",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15299"
},
{
"title": "VULCAN CORP <VUL> REGULAR DIVIDEND",
"body": "Qtly div 20 cts vs 20 cts in prior qtr\n Payable June 10\n Record May 22\n Reuter\n\u0003",
"date": " 8-APR-1987 16:14:23.24",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15300"
},
{
"title": "REAGAN TO ALLOW REVIEW OF HIS NOTES ON IRAN",
"body": "President Reagan has agreed to let\nthe House and Senate select committees investigating the Iran\narms sale review his personal diary notes on the affair,\ncommittee members said today.\n The notes will cover the period from January 1, 1984 to \nDecember 19, 1986 when the Iran arms deal was planned and\ncarried out and will include notes on Iran, Nicaragua and\nrelated subjects, House committee chairman Lee Hamilton said.\n The notes will be selected by the White House counsel and\nreviewed by Reagan before they are made available to committee\nmembers within a few weeks.\n Under terms of the agreement, committee members will be\nallowed to review the notes at the White House, but will not be\npermitted to make copies of the information.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 16:19:26.34",
"places": [
"usa",
"iran",
"nicaragua"
],
"id": "15301"
},
{
"title": "NAT'L DISTILLERS SAYS IT AGREES TO SELL SPIRITS UNIT FOR 545 MLN DLRS TO AMERICAN BRANDS\n",
"date": " 8-APR-1987 16:20:49.88",
"topics": [
"acq"
],
"id": "15302"
},
{
"title": "USDA SEEKS COMMENTS ON GRAIN DISCOUNT SCHEDULE",
"body": "The U.S. Agriculture Department is\nseeking public comments on the question of adjusting the\nCommodity Credit Corporation's (CCC) discount and premium\nschedules to improve the quality of grain it accepts as loan\ncollateral or under price support programs.\n The premiums and discounts schedule are based on quality\nfactors such as moisture content and kernel damage. The\nschedule stipulates the premiums and discounts used for valuing\ngrain the CCC accepts or purchases during the year.\n The department said it is possible that producers could be\nencouraged to delivery higher quality grain to CCC by adjusting\nthe premiums and discounts.\n Comments are due by April 24 and a report to Congress is\nrequired by law by May 10.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:22:03.81",
"topics": [
"grain"
],
"places": [
"usa"
],
"id": "15303"
},
{
"title": "BRAZILIAN FOREIGN DEBT REACHES 110.6 BILLION DLRS",
"body": "Brazil has a foreign debt of 110.6\nbillion dlrs, according to the latest official figures released\nby the Central Bank.\n The figure, published in the Central Bank's quarterly\nreview \"Brazil Economic Program,\" refers to the situation in\nDecember 1986.\n The Central Bank said the registered medium and long-term\ndebt was 101.54 billion dlrs, while non-registered debt was\nestimated at 9.03 billion dlrs.\n In the previous official figure given at the end of last\nyear, the total debt stood at 108.8 billion dollars.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:24:57.40",
"places": [
"brazil"
],
"id": "15304"
},
{
"title": "MCF FINANCIAL PLANS INITIAL PUBLIC OFFERING",
"body": "MCF Financial Corp said it filed\na registration statement with the Securities and Exchange\nCommission covering a proposed initial public offering of\n1,075,000 common shares.\n MCF said proceeds from the offering will be used to repay\ndebt, to purchase loan participation interests and for working\ncapital.\n MCF is engaged in the commercial finance business.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:25:09.67",
"places": [
"usa"
],
"id": "15305"
},
{
"title": "CASCADE IMPORTERS UNIT ACQUIRES PARIS COMPANY",
"body": "<Cascade Importers Inc USA>'s\nCascade International Europa GmbH of West Germany, said it\ntentatively acquired worldwide rights for the products of Madam\nGre from the Bernard Tapie Group in Paris.\n The agreement calls for Cascade to have the rights for the\nmanufacturing and trading of perfumes, skin care and treatment\nproducts, and cosmetics of the group, it said.\n Cascade said the agreement also includes the exclusive\nrights to trade through duty-free channels worldwide the\ndesigner Gres accessories.\n In addition, Cascade said it was granted an option to\npurchase all the assets including the plant and equipment\nlocated in France. \n The company said the cosmetic product line in the U.S.\nmarket alone could represent 20 mln dlrs in revenue.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:25:37.84",
"topics": [
"acq"
],
"places": [
"usa",
"france",
"west-germany"
],
"id": "15306"
},
{
"title": "ARMEL INC <AML> 4TH QTR LOSS",
"body": "Oper shr loss 79 cts vs loss 2.32 dlrs\n Oper net loss 2,536,896 vs loss 6,562,472\n Revs 13.8 mln vs 14.5 mln\n Year\n Oper shr loss 59 cts vs loss 2.35 dlrs\n Oper net loss 1,712,896 vs loss 5,747,472\n Revs 43.6 mln vs 44.2 mln\n NOTE: 1986 excludes charge of 12 cts per share in the\nfourth quarter and gain of 11 cts per share in the year.\n\n Reuter\n\u0003",
"date": " 8-APR-1987 16:26:35.71",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15307"
},
{
"title": "NATIONAL DISTILLERS <DR> TO SELL SPIRITS UNIT",
"body": "National Distillers and Chemical Corp\nsaid it signed a definitive agreement to sell its spirits\ndivision for 545 mln dlrs to James Beam Distilling Co, a unit\nof American Brands Inc <AMB>.\n The sale of the spirits division was made under the\ncompany's previously announced plan to sell its spirits and\nwines businesses, it said. The wine business was sold last\nmonth for 128 mln dlrs to Heublein Inc, part of Grand\nMetropolitan PLC, National Distillers said.\n The purchase price will be paid in cash, a National\nDistillers spokeswoman said.\n The sale permits National to focus on its core businesses,\nchemicals and propane marketing.\n Proceeds from the sale will be used to repay debt and for\nother corporate purposes, the company said.\n In a separate statement, American Brands said the sale\nwould be for 545 mln dlrs plus the assumption of liabilities.\n The sale would be subject to compliance with the\nHart-Scott-Rodino Antitrust Improvements Act and other\nregulatory approvals, the company said.\n National's distilled spirits business has sales of about\n580 mln dlrs, American Brands said. National's spirits brands\ninclude Gilbey's gin and vodka, DeKuyper Liqueurs and Windsor\nSupreme Canadian Whisky.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:27:15.48",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15308"
},
{
"title": "MANAGEMENT SCIENCE <MSAI> LOSS MAY TOP 20 CTS",
"body": "Management Science America Inc,\nclarifying statements made earlier today, said its loss for the\nfirst quarter could exceed 20 cts a share because of\nnon-recurring expenses associated with the acquisition of\nseveral companies, including Comserv Inc.\n Earlier today, the company told a meeting of investors here\nthat the first quarter loss would be 20 cts a share.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 16:28:05.17",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15309"
},
{
"title": "WOJNILOWER SEES DROP IN U.S. INTEREST RATES",
"body": "The Federal Reserve will promote lower\ninterest rates this year to sustain world economic growth,\nFirst Boston Corp managing director Albert Wojnilower said.\n As much as the Fed would like to take a tough line against\ninflation, it cannot act to slow the growth of credit without\nsubverting national U.S. economic policy.\n \"On selected occasions when the dollar seems steady, and,\nbecause the trade deficit is not responding, the United States\ndecided to push Germany and Japan harder to meet their\ncommitments to economic growth, the Federal Reserve will do its\npart by moving rates down,\" Wojnilower said in a report.\n \"Justifiably not anticipating either a recession or\nseriously higher interest rates, securities market participants\nhave seen little to fear,\" Wojnilower said.\n He said last week's \"hiccup\" in money and currency rates\nand bond and stock prices was probably caused by Japanese\nwindow dressing for March 31 end-of-fiscal-year accounts.\n Wojnilower said the U.S. probably enjoyed above-average\neconomic growth in the first quarter. However, the pick-up\nseems to reflect an unsustainable pace of inventory building\nand the prospect for the full year is still for real gross\nnational product growth of about 2-1/2 pct, he said.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:28:42.20",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "15310"
},
{
"title": "RAYTECH <RAY> BUYS WEST GERMAN COMPANY",
"body": "Raytech Corp said it acquired\n<Raybestos Industrie-Produkte GmBH> for 7.5 mln dlrs.\n Raybestos, with manufacturing facilities in Radevormwald,\nWest Germany, produces friction materials for use in clutch and\nbraking applications.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:28:47.36",
"topics": [
"acq"
],
"places": [
"usa",
"west-germany"
],
"id": "15311"
},
{
"title": "INTERCARE <CARE> TO POST 4TH QTR LOSS",
"body": "Intercare Inc said it\nexpects to report a substantial loss for its fourth quarter\nended January 31 because of a writeoff of expenses associated\nwith its recently terminated debt and equity offering.\n The company also said the write off includes expenses\nassociated with the acquisition of U.S. Medical Enterprises\nInc, and with the restructuring of certain partnerships.\n Intercare also said it increased its reserve against\naccounts receivable.\n Executives at the company were not immediately available to\nprovide additional details.\n Intercare also said it has implemented a workforce\nreduction, closed two medical centers and is considering\nadditional closings as a means of reducing a working capital\ndeficit.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:30:37.77",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15312"
},
{
"title": "CANADA TO MONITOR STEEL IMPORTS, EXPORTS",
"body": "Canada plans to monitor steel shipments\nflowing in and out of the country in an attempt to appease\nconcerns in the U.S. over the high level of Canadian steel\nexports, Trade Minister Pat Carney said.\n \"To help maintain our open access to the U.S. steel market,\nthe government is taking further action to ensure we have more\naccurate data on exports and imports and that Canada is not\nused as a backdoor to the U.S. market by offshore suppliers,\"\nCarney said.\n Carney also said Canadian companies were being asked to\nexercise prudence in the U.S. market and both countries were\nconsidering establishing a joint commission to study the\ngrowing steel problem.\n Carney told the House of Commons she will soon announce an\namendment to the Exports and Imports Permits Act to set up the\nmonitoring program.\n Canadian steel shipments to the U.S. have risen to 5.7 pct\ncent of the U.S. market in recent months, almost double the\nlevel just two years ago, Canadian trade officials said.\n The increase in Canadian shipments comes at a time of\ngrowing anger in the U.S. over rising steel imports from\nseveral countries in the face of a decline in the domestic\nsteel industry.\n Some U.S. lawmakers have proposed Canada's share of the\nAmerican market be limited to 2.4 pct.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:32:59.87",
"topics": [
"trade",
"iron-steel"
],
"places": [
"canada",
"usa"
],
"id": "15313"
},
{
"title": "UNITED TECH <UTX> SEES NO EARNINGS IMPACT",
"body": "United Technologies Corp said\nthe decision by an international consortium not to develop a\nnew engine would have no impact on 1987 or 1988 earnings.\n <International Aero Engines>, IAE, 30 pct owned by United\nTechnologies' Pratt and Whitney division, has decided not to\nlaunch a superfan version of its V2500 engine.\n \"We've told analysts that IAE's decision not to launch a\nfull development program of the IAE superfan for certification\nin 1991 will have no short term impact on earnings,\" a United\nTechnologies spokesman told Reuters.\n Short term refers to 1987 and 1988, the spokesman said. He\ndeclined to elaborate.\n IAE's other owners are Rolls Royce PLC, <Japanese Aero\nEngines Corp>, Fiat SPA and <MTU> of West Germany.\n Analysts are estimating United Technologies will earn 3.75\ndlrs to 4.50 dlrs a share in 1987. It reported earnings of 36\ncts a share in 1986, which included two large writeoffs.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:34:25.90",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15314"
},
{
"title": "STEWART AND STEVENSON <SSSS> 4TH QTR NET",
"body": "Shr profit 72 cts vs profit 14 cts\n Net profit 3,309,000 vs profit 609,000\n Revs 72 mln vs 65 mln\n Year\n Shr nil vs loss 4.13 dlrs\n Net profit 1,000 vs loss 19 mln\n Revs 249 mln vs 269 mln\n NOTE: Full name Stewart and Stevenson Services Inc.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:34:55.69",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15315"
},
{
"title": "CANADA PLANS NEW BOND ISSUE APRIL 14",
"body": "Canada plans to offer a three-part bond\nissue Tuesday, April 14, which will be dated and delivered May\n1, the finance department said.\n The issue will have a mid-term bond, a bond due in about 10\nyears and a long term bond. Further details, including the\namount being offered, will be announced Monday.\n The deparment said 650 mln dlrs of government bonds mature\nMay 1, 1987. \n Reuter\n\u0003",
"date": " 8-APR-1987 16:35:12.79",
"places": [
"canada"
],
"id": "15316"
},
{
"title": "GENERAL ELECTRIC <GE> UNIT OFFERS NEW SERVICE",
"body": "General Electric Co's RCA Global\nCommunications said it now offers RCA THRUFAX, a service that\ndelivers telex messages to facsimile terminals.\n No special equipment or extra cost is required to receive\ntelex messages, but the facsimile terminal must be registered -\nwithout charge - with RCA, the company said.\n The company said through the service, every telex terminal\nin the world will be able to reach RCA-registered facsimile\nterminals in the U.S., of which there are approximately\n500,000.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:38:47.75",
"places": [
"usa"
],
"id": "15317"
},
{
"title": "CENTOCOR <CNTO> IN PACT WITH AJINOMOTO",
"body": "Centocor Inc said it entered into\nan agreement with <Ajinomoto Co Inc> for the exclusive\ndistribution of Centocor's Panorex in Japan.\n Panorex is a monoclonal antibody, made through recombinant\ngene technology, for the treatment of pancreatic cancer. It has\nbeen tested in humans in Europe and the U.S. since 1982.\nCentocor said it intends to begin clinical trials in the U.S.\nthis year with a modified form of the drug.\n Under the agreement, Ajinomoto will conduct clinical tests\nof the drug in Japan and both companies will jointly file for\nmarketing approval for the product in Japan.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:40:07.16",
"places": [
"usa",
"japan"
],
"id": "15318"
},
{
"title": "G-24 MINISTERS SAY DEBT CRISIS ENTERING NEW AND DANGEROUS PHASE\n",
"date": " 8-APR-1987 16:40:43.76",
"id": "15319"
},
{
"title": "CENTURY BANCORP FILES FOR STOCK OFFERING",
"body": "<Century Bancorp Inc> said it\nfiled for an initial public offering of 1.6 mln shares of Class\nA common shares through an underwriting group managed by\nMoseley Securities Corp.\n The company said the Class A shares are non-voting except\nunder certain limited conditions.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:41:00.00",
"places": [
"usa"
],
"id": "15320"
},
{
"title": "WESTAMERICA BANCORP <WAB> 1ST QTR NET",
"body": "Shr 98 cts vs 63 cts\n Net 2,602,000 vs 1,571,000\n Loans 834.8 mln vs 729.0 mln\n Deposits 1.04 billion vs 942.1 mln\n Assets 1.15 billion vs 1.02 billion\n Reuter\n\u0003",
"date": " 8-APR-1987 16:41:59.49",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15321"
},
{
"title": "U.S.SENATE LIFTS SOME BANS ON NATURAL GAS",
"body": "The Senate unanimously approved\nlegislation to lift a ban on new construction of natural\ngas-fired power plants and other large industrial gas-burning\nplants.\n The bill, sponsored by Senate Energy Committee chairman\nBennett Johnston, also repeals mandatory incremental pricing of\nnatural gas which was designed to protect residential consumers\nfrom major price increases by forcing some industrial users to\npay higher than market prices.\n \"This legislation will open up new natural gas markets,\" the\nLousiana Democrat said.\n The gas restrictions were enacted in 1978 in response to a\nshortage of natural gas and predictions of higher prices.\n \"Now both oil and gas prices are severely depressed,\"\nJohnston said.\n In a compromise with coal producers, the bill requires new\nbaseload electric powerplants be designed to accomodate\nmodifications necessary to burning coal or another alternate\nfuel.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:42:35.70",
"topics": [
"nat-gas",
"crude"
],
"places": [
"usa"
],
"id": "15322"
},
{
"title": "U.S. FARM LAND VALUE DECLINE MODERATES--USDA",
"body": "The value of U.S. farmland declined\nagain last year, but less than in the previous year, the U.S.\nAgriculture Department said.\n In a summary of its Agricultural Resources Report, the\ndepartment said on February 1, 1987, the average value per acre\nof farmland stood at 548 dlrs, down eight pct from a year\nearlier. Values dropped 12 pct in 1985, it noted.\n Real values, which are adjusted for inflation, also\ndeclined less than in 1985, because of the low rate of\ninflation in 1986.\n Real values fell 10 pct compared to 14 pct in 1985, it\nsaid.\n The department said in the Corn Belt and Northern Plains,\nwhich suffered severe losses in the past five years, declines\nappear to be moderating. Also there are reports of stable\nvalues in some areas of the Corn Belt, it noted.\n The continuing downturn in values reflects the large\nacreage of land offered for sale relative to demand, concern \nabout lower crop prices, and uncertainty over farm programs,\nthe department said.\n Those factors tend to offset the effects of relatively high\ncash farm income, lower interest rates, and reduced operating\nexpenses, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:44:01.59",
"places": [
"usa"
],
"id": "15323"
},
{
"title": "SOUTHEAST BANCORP <STB> ACTS ON BRAZILIAN DEBT",
"body": "Following the lead of other major\nbanks, Southeast Banking Corp told the Securities and Exchange\nCommission it would place 54.2 mln dlrs of medium- and\nlong-term Brazilian debt on non-accrual or cash status.\n Based on current interest rates, it estimated in a filing\nthat the move will reduce net income by about 800,000 dlrs in\nthe first quarter and 3.2 mln dlrs for all of 1987. The company\nalso said it did not believe the Brazilian debt situation would\nhave a \"material adverse\" effect on it.\n It also said it would issue 1,080,000 common shares in\nconnection with its acquisition of Popular Bancshares Corp.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:45:07.89",
"topics": [
"earn"
],
"places": [
"usa",
"brazil"
],
"id": "15324"
},
{
"title": "WILLIAMS <WMB> SEES FLAT PIPELINE VOLUMES IN 1987",
"body": "Williams Cos said it expected oil and\nfertilizer transportation volumes to be flat in 1987 but said\noperating profits from the pipeline unit should improve from\n49.4 mln dlrs earned last year when a seven mln dlr special\ncharge was incurred.\n Williams Pipeline Co took the charge against earnings in\n1986 for the removal of more than 500 miles of old pipeline\nfrom service and for casualty losses. Companywide, Williams had\na net loss of 134 mln dlrs on total revenues of 1.85 billion\ndlrs, a decline from profits of 32 mln dlrs on sales of 2.46\nbillion in 1985.\n In its annual report, Williams said its Northwest Pipeline\nCorp and Williams Natural Gas Co had natural gas costs that are\namong the lowest in the nation, averaging 2.04 dlrs and 2.07\ndlrs per mcf, respectively, last year. Total natural gas\nreserves for both units declined to 10,010 billion cubic feet\nin 1986 from 11,334 billion cubic feet the previous year.\n The company said its Williams Natural Gas unit, which has\nless take-or-pay exposure than most major pipelines, should\nshow improvement in its 1987 operating results because of\nchanges tariff and federal tax rates.\n The company's gas marketing business is expected to have\nsomewhat lower earnings in 1987 because of competition in its\noperating region, the annual report said. The gas marketing\nunit earned 26.0 mln dlrs on sales of 285.6 mln dlrs last year.\n Williams also said it expected a substantial decline in its\ndebt to equity ratio this year because of more than 250 mln\ndlrs received in cash from the sale of Agrico Chemical Co and\nproceeds from the sale and leaseback of Williams\nTelecommunications Co. The telecommunications business, a\n2,000-mile fiber optic system for long distance use, will not\nbe profitable until late 1988, Williams said.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:46:06.48",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15325"
},
{
"title": "SUPER VALU STORES INC <SVU> 4TH QTR FEB 28 NET",
"body": "Shr 38 cts vs 25 cts\n Net 28,339,000 vs 18,650,000\n Sales 2.27 billion vs 1.97 billion\n Avg shrs 74,485,000 vs 74,270,000\n Year\n Shr 1.20 dlrs vs 1.23 dlrs\n Net 89,301,000 vs 91,247,000\n Sales 9.07 billion vs 7.91 billion\n Avg shrs 74,387,000 vs 74,184,000\n NOTE: 1986 period ended February 22, 1986\n 1986 earnings include net loss of unconsolidated subsidiary\nof 162,000 dlrs in the quarter and 702,000 dlrs for the year\n Reuter\n\u0003",
"date": " 8-APR-1987 16:47:06.57",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15326"
},
{
"title": "PARKER DRILLING CO <PKD> 2ND QTR FEB 28 LOSS",
"body": "Shr loss 70 cts vs loss 57 cts\n Net loss 20,616,000 vs loss 16,854,000\n Revs 23.1 mln vs 60.1 mln\n Six mths\n Shr loss 1.38 dlrs vs loss 1.02 dlrs\n Net loss 40,780,000 vs loss 29,996,000\n Revs 61.0 mln vs 114.9 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 16:47:37.85",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15327"
},
{
"title": "G-24 SAYS DEBT CRISIS ENTERING NEW PHASE",
"body": "Ministers from the Group of 24\ndeveloping coutries said that the debt crisis was entering a\nnew and dangerous phase and called for the formation of a\nministerial committee to examine solutions to the problem.\n In a statement following a meeting of the ministers, they\nsaid that the \"existing (debt) strategy offers no prospect for a\nlasting solution to the debt problem.\"\n The statement said that there should be a new attitude and\napproach in respect of the existing stock of debt and called\nfor current flows and future credits to be examined by\ngovernments, multilateral and banking institutions.\n The statement also said that the prospects of the least\ndeveloped countries continue to deteriorate and \"will improve\nonly if commensurate financing on concessional terms is made\navailable.\"\n Reuter\n\u0003",
"date": " 8-APR-1987 16:52:28.85",
"places": [
"usa"
],
"id": "15328"
},
{
"title": "COFFEE COULD DROP TO 70/80 CTS, CARDENAS SAYS",
"body": "International coffee prices could drop to\nbetween 70 and 80 cents a lb by next October if no agreement is\nreached to support the market, Jorge Cardenas, manager of\nColombia's National Coffee Growers' Federation said.\n Speaking at a forum for industrialists, he said one of the\nreasons was that the market was already saturated and that\nproducers will have excess production and stockpiles of 39 mln\n(60-kg) bags in 1987.\n Today, May futures in New York settled at 107.90 cents a\nlb.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:56:39.84",
"topics": [
"coffee"
],
"places": [
"colombia"
],
"id": "15329"
},
{
"title": "PAN AM <PN> UNIT SETS INTRO FARE TO ATLANTA",
"body": "Pan American Corp's Pan Am World\nAirways said it will begin daily service tomorrow from Atlanta\nto New York, Washington and Miami.\n The company said it will offer the flights for 49 dlrs\nbetween April 9 and May 9. The 49 dlr fare is unrestricted, but\nis capacity controlled, Pan Am said.\n Pan Am said the flights are timed to connect with European-\nand South American-bound flights.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:57:17.55",
"places": [
"usa"
],
"id": "15330"
},
{
"title": "CAESARS WORLD <CAW> STAYS ON S/P WATCH, NEGATIVE",
"body": "Standard and Poor's Corp said it is\nkeeping 230 mln dlrs of debt of Caesars World Inc and Caesars\nWorld Finance Corp on creditwatch with negative implications.\n S and P cited Caesars World's proposed recapitalization\nplan that calls for incurring one billion dlrs of bank and\nother debt to finance a 25 dlr per share special dividend and\nthe repayment of about 222.5 mln dlrs of existing debt.\n It said the plan's terms would violate dividend convenants\nin the rated debt's indentures and likely force refinancing of\nthose issues. Caesars was placed on creditwatch for a possible\ndowngrade March nine following investor Martin Sosnoff's bid.\n Sosnoff bid 28 dlrs per share, or 725.2 mln dlrs, for the\n86.4 pct of Caesars World stock he does not already own,\nStandard and Poor's noted.\n The rating agency said an increase in Sosnoff's offer is\npossible. If successful, the stock bid would markedly raise\nCaesars World's financial risk and lead to a large drop in net\nincome and cash flow, S and P said.\n Caesars World currently carries BB senior debt and B-plus\nsubordinated debt. The finance unit's subordinated debt, which\nis guaranteed by the parent, is rated B-plus.\n Reuter\n\u0003",
"date": " 8-APR-1987 16:58:03.88",
"places": [
"usa"
],
"id": "15331"
},
{
"title": "PHOENIX FINANCIAL <PHFC> BOARD RESIGNS",
"body": "Phoenix Financial Corp said that,\nin connection with its previously announced reorganization, \nits board of directors resigned.\n Resigning as directors, officers and employees of the\ncompany were Mary Anne Cossa, Thomas C. Amendola and James J.\nO'Maller, the company said. It said Martin S. Ackerman and Joel\nYonover, both attorneys, were named directors and constitute\nthe new board.\n In addition, the company said Ackerman was named chief\nexecutive officer.\n Phoenix said it acquired a controlling interest in <Data\nAccess Systems>, which sells and leases computer equipment.\n It said Ackerman, Yonover and Diane Ackerman were named\ndirectors of Data Access.\n Moreover, the company that it and Data Access are both in\nthe process of reorganizing and the securities of both\ncompanies represent speculative and risk-related investments.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:00:58.57",
"places": [
"usa"
],
"id": "15332"
},
{
"title": "ENGINEERED SYSTEMS <ESD> UNIT GETS LOAN NOTICE",
"body": "Engineered Systems and\nDevelopment Corp said Wells Fargo and Co's <WFC> Wells Fargo\nBank has demanded immediate payment of a 1,750,000 dlr loan\nmade to Engineered's Seaborn Development Inc unit under a\nrevolving credit arrangment that expired on April 30, 1986.\n The company said Wells Fargo has also said it will sue to\ncollect if it does not receive payment immediately.\n The parties involved also began negotiations to restructure\nthe repayment over an 18 month period and the talks are\nongoing, Engineered Systems also said.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:02:59.66",
"places": [
"usa"
],
"id": "15333"
},
{
"title": "SUMMA <SUMA> TO FILE FOR FINANCING COMMITMENT",
"body": "Summa Medical Corp said it\nintends to file a prospectus with the Securities and Exchange\nCommission outling a commitment for a six mln dlr financing,\nsigned yesterday.\n Summa said it expects the filing to take place before April\n24.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:03:59.70",
"places": [
"usa"
],
"id": "15334"
},
{
"title": "HBO <HBOC> URGES SHAREHOLDERS AGAINST ANDOVER",
"body": "HBO and Co said it sent a letter of\nstrongly urging shareholders not to sign any proxy cards sent\nby Andover Group.\n ON March 30, Andover Group, a two-man general partnership\nwhich owns about seven pct of HBO's stock, filed preliminary\nproxy materials with the Securities and Exchange Commission\nseeking to nominate an alternative slate of directors at the\ncompany's April 30 annual meeting.\n Andover had expressed an interest to acquire the company in\nSeptember 1986 but HBO has never received an offer from them,\nit said.\n In addition, HBO said its financial condition is improving\nrapidly as the result of a significant restructuring\nimplemented in 1986.\n It expects the company to report net income of about 40 cts\nper share in 1987 and a very significant increase in 1988.\n For the year ended December 1986, the company reported a\nloss of 3.6 mln dlrs, or 16 cts per share.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:05:08.40",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15335"
},
{
"title": "(CFCF INC) SIX MTHS FEB 28 NET",
"body": "Shr 51 cts vs 56 cts\n Net 5,645,000 vs 6,153,000\n Revs 45.9 mln vs 45.3 mln \n Reuter\n\u0003",
"date": " 8-APR-1987 17:07:09.32",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15336"
},
{
"title": "UAP MAKES ACQUISITIONS",
"body": "<UAP Inc> said it has acquired Slater\nAuto Electric Ltd, with two Ontario stores, and United Diesel\nEngine Parts Ltd, of Dartmouth, Nova Scotia, for undisclosed\nterms. It said the transactions, together with acquisitions\nearlier this year, will increase its annual sales by about 4.5\nmln dlrs.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:08:22.58",
"topics": [
"acq"
],
"places": [
"canada"
],
"id": "15337"
},
{
"title": "GREECE ACCUSES TURKEY OF AIR SPACE INFRINGEMENTS",
"body": "Greece accused Turkish warplanes of\ninfringing the Athens Flight Information Region (FIR) in the\nAegean Sea three times.\n The Defense Ministry said the Turkish intrusions took place\nover the islands of Chios, Samos, Lesbos and Lemnos. The planes\nwere identified and intercepted by Greek fighters, it said.\n Greece has charged Turkish aircraft with 10 other FIR\ninfringements and two air space violations in the Aegean over\nthe last two days.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:08:31.61",
"places": [
"greece",
"turkey"
],
"id": "15338"
},
{
"title": "EIA SAYS DISTILLATE STOCKS UNCHANGED, GASOLINE OFF 200,000, CRUDE UP 6.3 MLN\n",
"date": " 8-APR-1987 17:09:52.64",
"topics": [
"gas",
"crude"
],
"id": "15339"
},
{
"title": "PROPOSED OFFERINGS RECENTLY FILED WITH THE SEC",
"body": "The following proposed securities\nofferings were filed recently with the Securities and Exchange\nCommission:\n First Interstate Bancorp <I> - Shelf offering of up to 112\nmln dlrs of debt securities, including notes and debentures, on\nterms to be determined at the time of the sale.\n Pacificorp Credit Inc, subsidiary of Pacificorp <PPW> -\nShelf offering of up to 250 mln dlrs of debt securities,\nincluding notes and debentures, at prices and on terms to be\ndetermined at the time of the sale.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:11:44.62",
"places": [
"usa"
],
"id": "15340"
},
{
"title": "USDA DISCUSSING PL 480 AGREEMENT WITH MOROCCO",
"body": "The U.S. Agriculture Department is\ncurrently discussing an amendment to a PL 480 agreement signed\nwith Morocco on January 22, but the mix of commodities under\nthe amendment has not been determined, a U.S. Agriculture\nDepartment official said.\n The official noted the agreement signed in January provided\nfor the supply of about 55,000 tonnes of vegetable oil, 55,000\ntonnes of corn and 126,000 tonnes of wheat, all for delivery\nduring the current fiscal year, ending this September 30.\n No purchase authorizations for the commodities provided in\nthe January agreement have been announced by the department.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:13:41.05",
"topics": [
"veg-oil",
"grain",
"corn",
"wheat"
],
"places": [
"usa",
"morocco"
],
"id": "15341"
},
{
"title": "THORN-EMI WINS U.S. RULING IN BEATLES SUIT",
"body": "<Thorn-EMI PLC> said the New York\nSupreme Court dismissed six of the nine actions in a suit filed\nby the Beatles for royalties on their songs.\n It said the court dismissed charges of fraud and\nconversion, and claims of 50 mln dlrs in punitive damages\nsought by the companies, <Apple Records Inc>, <Apple Corps\nLtd>, and former Beatles, George Harrison, Ringo Starr and the\nwidow of John Lennon, Yoko Ono. Paul McCartney was not party to\nthe suit.\n The Beatles brought the suit against Capital Records Inc\nand EMI Records Ltd, two units of Thorn-EMI.\n The Beatles charged the record companies with defrauding\nthem by not paying royalties on sales of various recordings\nover the past 18 years.\n A spokesman for the company in New York said while the\ncourt dismissed six of the nine actions involving punitive\ndamages, three actions remain, with 30 mln dlrs in claims for\nroyalties.\n\n Reuter\n\u0003",
"date": " 8-APR-1987 17:14:17.02",
"places": [
"usa"
],
"id": "15342"
},
{
"title": "LTV <QLTV> AND STEELWORKERS BEGIN NEGOTIATIONS",
"body": "The negotiating committees for the\nUnited Steelworkers of America and LTV Corp said they have\nbegun intensive negotiations and have made a \"firm commitment\"\nto successfully conclude these negotiations by May one.\n They said the talks will cover issues related to\ntermination of pension plans by the Pension Benefit Guaranty\nCorp for both active workers and retirees, and insurance\nprograms for both groups.\n The Union and LTV also said they plan to resolve all issues\nrelated to the terms of a basic labor agreement and the\neffective use of manpower and equipment.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:17:35.15",
"places": [
"usa"
],
"id": "15343"
},
{
"title": "EIA SAYS DISTILLATE STOCKS UNCHANGED IN WEEK",
"body": "Distillate fuel stocks held in\nprimary storage were unchanged in the week ended April three at\n106.9 mln barrels, the Energy Information Administration (EIA)\nsaid.\n In its weekly petroleum status report, the Department of\nEnergy agency said gasoline stocks were off 200,000 barrels in\nthe week to 248.1 mln barrels and refinery crude oil stocks\nrose 6.3 mln barrels to 335.8 mln.\n The EIA said residual fuel stocks fell 100,000 barrels to\n38.1 mln barrels and crude oil stocks in the Strategic\nPetroleum Reserve (SPR) rose 1.1 mln barrels to 520.0 mln.\n The total of all crude, refined product and SPR stocks rose\n9.4 mln barrels to 1,561.1, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:18:29.56",
"topics": [
"gas",
"crude"
],
"places": [
"usa"
],
"id": "15344"
},
{
"title": "HAWKEYE <HWKB> 1986 ANNUAL REPORT QUALIFIED",
"body": "Hawkeye Bancorp's 1986 annual\nfinancial results were qualified by its auditors, according to\nthe annual report.\n \"...there are conditions which may indicate that the\ncompany will be unable to continue as a going concern,\"\nauditors Deloitte Haskins and Sells said in Hawkeye's annual\nreport to shareholders.\n Hawkeye reported a 1986 loss of almost 59 mln dlrs, citing\nan increase in its loan loss provision to 34.7 mln dlrs and\nrestructuring costs of 27 mln dlrs.\n However, Hawkeye, with assets of 1.09 billion dlrs at 1986\nyear end, said it expects \"to have sufficient cash to meet its\nobligations for the next 12-month period.\"\n Last July the bank holding company reached a debt\nrestructuring agreement which identifed 17 bank subsidiaries\nand five non-bank operations for disposition.\n \"The restructuring has improved Hawkeye's financial\ncondition, but it does not assure that Hawkeye will be able to\nsurvive as a going concern,\" the report said.\n Hawkeye's survival will depend on its ability to comply\nwith provisions of the debt restructuring and regulatory\nagreements and on its ability to return to profitable\noperations, it said.\n There can be no assurance that Hawkeye will be able to meet\nthese requirements. However, the company \"believes it will be\nable to do so,\" Hawkeye said.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:20:02.95",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15345"
},
{
"date": " 8-APR-1987 17:21:19.43",
"places": [
"usa"
],
"id": "15346"
},
{
"title": "S/P SEES STABLE CREDIT QUALITY IN FIRST QUARTER",
"body": "Standard and Poor's Corp said that\ncorporate credit quality stabilized in the first quarter of the\nyear, even though downgrades outpaced upgrades.\n S and P said it reduced 79 debt ratings, affecting 63\nbillion dlrs of debt securities, and raised 28 ratings,\naffecting 12 billion dlrs of debt.\n However, the rating agency pointed out that last quarter's\nnumber of downgrades was the lowest since first quarter 1986.\nIt also said the upgrades were the fewest since early 1986.\n It said rating changes quieted in the oil and insurance\nsectors, while utilities provided a positive influence.\n Standard and Poor's said its major downgrades last quarter\nwere of Denmark, USX Corp <X>, Chase Manhattan Corp <CMB> and\nManufacturers Hanover Corp <MHC>.\n It said the most negative influence on rating changes\noccurred in the financial institution sector, where there were\n22 downgrades versus five upgrades.\n Notably, ratings were reduced for several of the largest\nU.S. bank holding companies, reflecting lower asset quality and\nweaknesses that were specific to those firms, S/P said.\n Among industrials, S and P cut 43 ratings and raised 10.\nLower ratings prevailed in steel and health care, it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:23:54.12",
"places": [
"usa"
],
"id": "15347"
},
{
"title": "<WASHINGTON BANCORPORATION> 1ST QTR NET",
"body": "Shr 33 cts vs 37 cts\n Net 2,051,000 vs 1.8 mln\n Assets 1.7 billion vs 1.5 billion\n Deposits 1.4 billion vs 1.2 billion\n Loans 1.1 billion vs 900 mln\n Note: Year-ago results restated to reflect merger with\nColson Inc.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:27:34.32",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15348"
},
{
"title": "DOME <DMP> PLAN MAY FORCE SALE OF ENCOR STAKE",
"body": "Dome Petroleum Ltd's proposal to\nrestructure debt of more than 6.10 billion Canadian dlrs\nincludes provisions that may force the company to sell its 42\npct stake in <Encor Energy Corp Inc>, Dome said in a U.S.\nSecurities and Exchange Commission filing.\n Dome said in the filing that its debt plan proposes making\npayments under a five year income debenture to the lender whose\ndebt is secured by Dome's Encor shares.\n After the five years are up, \"under certain circumstances\nthe shares of Encor may be required to be disposed,\" the company\nsaid.\n Dome has pledged its 42.5 mln Encor shares as security for\npart of its debt to <Canadian Imperial Bank of Commerce>,\nestimated last year at 947 mln dlrs.\n Analysts have said Commerce Bank was pressing Dome to sell\nthe stock to pay down its debt.\n Dome's Encor shares had a market value of 313 mln dlrs on\nMarch 17, 1987, the company's filing said.\n As previously reported, Dome is seeking approval in\nprinciple for the debt restructuring plan. Dome said in the\nfiling it proposed lenders sign a letter of understanding in\nearly April, with implementation to be effective July 1, 1987.\n Dome Petroleum reiterated in the SEC filing that its\nexistence as a going concern is dependent on continuing the\ninterim debt plan, due to expire on June 30, and winning\nagreement for its proposed restructuring plan.\n \"The company believes that the negotiation and\nimplementation of the proposed debt restructuring plan is\nrealistic and achievable,\" Dome said.\n \"However, the final outcome of the negotiations cannot be\npredicted at this time,\" it said.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:29:49.36",
"topics": [
"acq"
],
"places": [
"canada"
],
"id": "15349"
},
{
"title": "PDVSA SIGNS WITH AGIP, ARCO FOR COAL PROJECT",
"body": "Petroleos de Venezuela, S.A. signed a\nletter of intent with Agip Carbone and Arco Coal Co, a unit of\nAtlantic Richfield Co <ARC> to exploit the coal deposits at\nGuasare in western Zulia state, PDVSA officials said.\n The Carbozulia project will include open-pit mining of the\nlow sulphur content coal, as well as the construction of a\nrailroad and port facilities, at an estimated total cost of 500\nmln dlrs.\n The Agip/Arco consortium will own 48 pct of Carbozulia,\nwhile PDVSA will have 49 pct, with the remaining three pct to\nbe held by private investors.\n Carboulia President Luis Urdaneta said work will begin this\nmonth on a preliminary test mine with a capacity of 500,000 mt\na year. A first shipment is scheduled to be ready by third\nquarter 1987, he said.\n \"The purpose of this trial shipment is to let potential\ncustomers know about the quality of the Guasare coal,\" Urdaneta\nsaid. Long-term plans call for Carbozulia to produce 6.5 mln mt\na year of by 1995, at which time coal exports are expected to\nbring Venezuela some 200 mln dlrs a year.\n Agip Carbone President Francesco Coffrini said yesterday 60\npct of Carbozulia's coal will be exported to European markets.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 17:33:34.41",
"places": [
"venezuela"
],
"id": "15350"
},
{
"title": "RECENT U.S. OIL DEMAND OFF 2.6 PCT FROM YEAR AGO",
"body": "U.S. oil demand as measured by\nproducts supplied fell 2.6 pct in the four weeks ended April\nthree to 15.73 mln barrels per day (bpd) from 16.16 mln in the\nsame period a year ago, the Energy Information Administration\n(EIA) said.\n In its weekly petroleum status report, the Energy\nDepartment agency said distillate demand was off 7.9 pct in the\nperiod to 2.90 mln bpd from 3.15 mln a year earlier.\n Gasoline demand averaged 6.76 mln bpd, off 3.1 pct from\n6.98 mln last year, while residual fuel demand was 1.15 mln\nbpd, off 16.9 pct from 1.39 mln, the EIA said.\n So far this year, distillate demand fell 2.3 pct to 3.20\nmln bpd from 3.28 mln in 1986, gasoline demand was 6.63 mln\nbpd, off 0.3 pct from 6.65 mln, and residual fuel demand fell\n4.9 pct to 1.35 mln bpd from 1.42 mln, the EIA said.\n Year-to-date domestic crude output was estimated at 8.40\nmln bpd, off 7.6 pct from 9.09 mln a year ago, while gross\ncrude imports averaged 3.92 mln bpd, up 27.1 pct from 3.08 mln,\nit said.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:36:41.71",
"topics": [
"crude",
"gas"
],
"places": [
"usa"
],
"id": "15351"
},
{
"title": "DEFICIT CUTS SEEN UNABLE TO CURE TRADE DEFICIT",
"body": "Financial analysts say they are\npleased with congressional moves to trim next year's federal\nbudget deficit but believe the actions will do little to help\nimprove the U.S. trade deficit or buoy the economy.\n The House of Representatives is expected to vote tomorrow\nto approve a trillion-dollar budget blueprint for the coming\nfiscal year that reduces the deficit by 38 billion dlrs.\n Similarly, the Senate Budget Committee has approved a plan\nthat would cut federal red ink by about 37 billion dlrs next\nyear.\n \"In terms of the economy, 37-38 billion dlrs is\ninfinitesimal, so cuts of this magnitude will have little\nimpact on the economy and the trade deficit,\" said Stanley\nCollander, a Touche Ross federal budget policy analyst.\n \"At best, it will have a small positive effect,\" Collander\nsaid in an interview.\n Federal Reserve Board Chairman Paul Volcker has repeatedly\ntold Congress that cutting federal red ink would go a long way\nto help reduce the massive trade deficit and also help ease\nsome of the downward pressure on the value of the dollar.\n The U.S. government has attempted to remedy the trade\nimbalance by driving down the value of the dollar. But Volcker\nhas warned that a further fall in the dollar's value is fraught\nwith danger.\n Such a decline, he has said, could refuel inflation as\nimported goods become more expensive and chase away foreign\ncapital needed to finance the federal budget deficit.\n In addition, in February, U.S. officials meeting with other\nmajor industrialized nations in Paris agreed that the value of\nthe dollar had dropped enough and that world exchange rates\nshould be stabilized at around current levels.\n As part of that agreement, Japan and West Germany agreed to\ntake steps to stimulate their economies and the United States\nagreed to cut its budget deficit.\n The alternative to driving down the dollar any further as a\nway to deal with the trade deficit, Volcker said recently, is\nto reduce U.S. consumption, particularly federal spending.\n \"If you don't deal with the budget deficit, everything else\nyou do is going to be counterproductive,\" Volcker said in recent\ntestimony before the Senate Banking Committee.\n Volcker also said he would prefer to further tighten the\ngovernment's purse strings than have the Fed tighten the credit\nsupply if action was needed to fight inflationary pressures or\nto assure the continued flow of foreign capital into the United\nStates.\n Analysts say that Fed tightening now could choke off the\ncurrent modest economic expansion and threaten a recession.\n Kemper Financial Services economist John Silvia stressed\nthat any deficit reduction was better than none.\n But he said the size of the cuts under consideration were \nnot enough to give the Federal Reserve Board the flexibility it\nneeds to steer the economy or to keep the value of the dollar\nfrom plunging further in world exchange markets.\n \"There's no doubt that some deficit reduction helps, but if\nyour objective is to stabilize the dollar and perserve the\nFed's flexibility to conduct monetary policy, then the answer\nis, it's not enough,\" Silvia told Reuters.\n The U.S. trade deficit has become one of the government's\nmost vexing and persistent problems.\n The 1986 deficit was 169.8 billion dlrs and there is as yet\nlittle indication that this year's figure will be any lower,\nthough administration officials have predicted it will drop by\nabout 20 to 30 billion dlrs by year's end.\n In the past, Volcker has joked that he never lost sleep\nworrying whether Congress would cut too much fat from the\nfederal budget.\n On the other hand, he also has made it clear he is not\nattached to the gradually declining deficit ceilings set for\nthe 1986-1991 period by last year's Gramm-Rudman balanced\nbudget law.\n While the new law set a ceiling of 108 billion dlrs for\nnext year's federal deficit, both the House and Senate Budget\nCommittees have conceded that their budget plans would fall\nshort of the deficit reduction goal by about 25 billion dlrs.\n \"For political reasons, 35 to 40 billion dlrs is about the\nmost you're going to get\" out of Congress at the present time,\nsaid Touche Ross's Collander. \"To do something more than that\nwould be extraordinary, remarkable and very, very difficult.\"\n Collander said the real danger for Congress was to end up\nshort of the deficit reduction goal set by its Budget panels.\n \"To an extent, this has become the minimum acceptable\nreduction level,\" he explained. \"Anything less than that will now\nlook like a failure to Wall Street.\"\n The budget plan now under debate on the House floor would\nlower an estimated 171 billion dlr deficit for the year\nbeginning on October one to about 133 billion dlrs by cutting\ndefense and domestic programs by 38 billion dlrs from their\nanticipated spending levels for next year.\n The Senate Budget Committee has called for a deficit of\nnearly 134 billion dlrs with about 18.5 billion dlrs in new \ntaxes and about the same amount in spending cuts.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:37:24.16",
"topics": [
"trade"
],
"places": [
"usa",
"japan",
"west-germany"
],
"id": "15352"
},
{
"title": "FORD <F> EXTENDS BUYER INCENTIVE PROGRAM",
"body": "Ford Motor Co said it has\nextended to April 30 its buyer incentive program on 1986 and\n1987 Ford Escort and Tempo, and Mercury Lynx and Topaz.\n Consumers will have a choice of 3.9 pct to 9.9 pct annual\npercentage rate financing or a cash rebate of up to 600 dlrs.\n Earlier Ford extended its incentive program to April 30 on\nits Taurus and Mercury Sable and several lines of light trucks.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:39:20.30",
"places": [
"usa"
],
"id": "15353"
},
{
"title": "STEWART AND STEVENSON SERVICES <SSSS> 4TH QTR",
"body": "4th qtr ended Jan 31.\n Shr profit 72 cts vs profit 14 cts\n Net profit 3,309,000 vs 609,000\n Revs 72 mln vs 65 mln\n Year\n Shr profit nil vs loss 4.13 dlrs\n Net profit 1,000 vs loss 19 mln\n Revs 245 mln vs 269.1 mln\n Reuter\n\u0003",
"date": " 8-APR-1987 17:39:45.07",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15354"
},
{
"title": "ORS <ORSC> CHAIRMAN RESIGNS AFTER CONVICTION",
"body": "Robert A. Alexander resigned\nyesterday as chairman, president and director of ORS Corp\nfollowing his conviction in the United States District Court in\nTulsa of seven counts of mail and wire fraud, the company said.\n The company, which will appoint an interim president, said\nAlexander plans to appeal the conviction.\n The company said it was not charged in Alexander's\nindictment.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:40:42.65",
"places": [
"usa"
],
"id": "15355"
},
{
"title": "WESTAMERICA BANCORPORATION <WSAM> 1ST QTR NET",
"body": "Shr 98 cts vs 63 cts\n Net 2,602,000 vs 1,571,000\n Assets 1.15 billion vs 1.02 billion\n Deposits 1.04 billion vs 942.1 mln\n Loans 834.8 mln vs 729.0 mln\n Return on avg assets 0.92 pct vs 0.63 pct\n Reuter\n\u0003",
"date": " 8-APR-1987 17:41:26.27",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15356"
},
{
"title": "COLOMBIA COFFEE REGISTRATIONS REMAIN OPEN",
"body": "Colombia's coffee export registrations\nremain open and there are no plans to close them since a new\nmarketing policy means an unlimited amount can be registered,\nGilberto Arango, president of the private exporters'\nassociation said.\n \"The philosophy of the new policy is not to close\nregistrations. Nobody so far said may would be closed,\" he told\nReuters.\n On March 13, Colombia opened registrations for April and\nMay for an unlimited amount.\n Without giving breakdowns, Arango said private exporters\nhad registered 1,322,804 bags this calendar year up to April 6,\nor roughly 440,000 bags per month, slightly lower than the\naverage in recent years.\n He estimated the amount of bags registered by the national\ncoffee growers' federation at about the same, meaning a total\nof about 900,000 bags registered and sold per month by\nColombia.\n \"The only change that could happen is, because of the\nvolume, we would be told that from such a date, registrations\nwould be for June shipment, etc\" Arango said.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:41:35.66",
"topics": [
"coffee"
],
"places": [
"colombia"
],
"id": "15357"
},
{
"title": "ALBERTA ENERGY PLANS DEBENTURE ISSUE",
"body": "<Alberta Energy Co Ltd> said it\nfiled a preliminary prospectus for an issue of convertible\ndebentures, which may total 100 mln dlrs depending on market\nconditions.\n It said it had not yet determined the interest rate,\nconversion terms, maturity date or size of the issue.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:43:54.05",
"places": [
"canada"
],
"id": "15358"
},
{
"title": "GATEWAY BANCORP INC <GBAN> 1ST QTR NET",
"body": "Shr 32 cts vs 34 cts\n Net 902,178 vs 662,647\n Deposits 174.7 mln vs 134.4 mln\n NOTE: Per share amounts adjusted to reflect 10-for-one\nstock split effective Sept 16, 1986.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:45:41.34",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15359"
},
{
"title": "SELAS CORP OF AMERICA <SLS> SETS SALE/LEASEBACK",
"body": "Selas Corp of America said it\nsigned a letter of intent for a three mln dlr sale and\nleaseback of its corporate offices and plants.\n The sale is subject to a number of conditions, including\napproval by the board and the unidentified buyer.\n Reuter\n\u0003",
"date": " 8-APR-1987 17:46:02.99",
"places": [
"usa"
],
"id": "15360"
},
{
"title": "INVESTOR CHARGES WITH STOCK MANUPULATION",
"body": "William Rodman, a 43-year-old New York\ninvestor was indicted for allegedly plotting to manipulate the\nprice of three over-the-counter stocks to drive up their prices\nand create interest in the companies.\n Rodman was also charged with securities and wire fraud\nstemming from the alleged manipulation of the stocks of Memory\nMetals Inc <MRMT>, Memory Protection Devices Inc <MPDI> and\n<Intravision Inc>, beginning in January 1984.\n The indictment charged that Rodman and other unnamed\nco-conspirators bought and sold the stocks through 100 accounts\nin at least 35 broker-dealer firms.\n \n Reuter\n\u0003",
"date": " 8-APR-1987 17:46:26.17",
"places": [
"usa"
],
"id": "15361"
},
{
"title": "FUNARO SAYS BRAZIL'S CREDITORS MUST TRUST HIM",
"body": "Brazilian Finance Minister Dilson\nFunaro, who suspended interest payments to creditor banks two\nmonths ago, said creditors had to trust him when he said Brazil\nwould achieve a trade surplus large enough to continue\nservicing its debt.\n Speaking to reporters at the Brazilian Embassy, Funaro said\nhe would not seek approval of Brazil's economic program outside\nhis country, but added, \"At the same time we show credibility,\nyou (the banks) are going to have to trust us.\"\n Asked if creditor banks would accept Brazil's refinancing\nneeds based on a new economic program not endorsed by the\nInternational Monetary Fund, Funaro said, \"What other options do\nthey have?...They have to try to see our program.\"\n Funaro, who is in Washington to attend the Interim\nCommittee and Development Committee meetings of the World Bank\nand IMF, said he unveiled his refinancing proposals to the\nmajor creditor banks in New York yesterday.\n According to Funaro, the creditor banks \"agreed on the need\nto find a solution to the crisis.\" He did not elaborate.\n Funaro said the commercial banks agreed on Brazil's need\nfor economic growth and added that creditors were aware that\nBrazil cannot continue to export the 24 billion dlrs in net\ncapital that it transferred over the past three years.\n He also said that he told bankers about Brazil's needs to\nensure a seven pct average growth and eight billion to 11\nbillion dlr trade surplus until 1991.\n Administration officials familiar with the negotiations\nsaid Brazil's new economic measures did not make much sense\nbased on current conditions in that country, and added that\nthey saw long and difficult negotiations ahead.\n Lewis Preston, chairman of J.P. Morgan and Co. Inc., told\nReuters he remains hopeful that Brazil and its foreign bank\ncreditors will reach a debt rescheduling agreement before the\nend of the year.\n But Preston, who did not attend the meeting between Funaro\nand creditor banks yesterday, added the onus is still on Brazil\nto put its economic house in order first.\n \"They haven't even come up with a plan yet,\" Preston said\nafter Morgan's annual meeting in New York today.\n Funaro, however, said most creditor banks had\nrepresentatives in Brazil who were well aware of Brazil's new\neconomic measures, designed to curb a surge in inflation and\nspending and a sharp drop in exports.\n Funaro called Brazil's program very responsible and very\nstrong, adding that \"it is very different from other years,\nthere has been a tremendous change.\"\n Based on Brazil's current economic situation - suspension\nof interest payments on 67 billion dlrs owed to banks, 200 pct\ninflation and the need of four billion dlrs in new loans every\nyear until 1991 - he said he was faced with two options.\nREUTER...\n\u0003",
"date": " 8-APR-1987 17:57:03.82",
"organisations": [
"imf"
],
"places": [
"usa",
"brazil"
],
"id": "15362"
},
{
"title": "MORE AMERICAN BRANDS <AMB> ACQUISITIONS SEEN",
"body": "American Brands Inc's 545 mln dlrs\nacquisition of National Distillers and Chemical Corp's liquor\nbusiness is expected to be one of a series of acquisitions by\nthe tobacco company, analysts said.\n \"They were very frustrated with their inability to get\nChesebrough. They said they were looking for an acquisition. It\ndoesn't surprise me that they came up with another one,\" said\nAllan Kaplan of Merrill Lynch and Co.\n American Brands failed late last year in its 2.9 billion\ndlrs bid for Chesebrough-Ponds Inc when Unilever N.V. agreed to\nbuy the company. But since then, Wall Street has been\nspeculating that American Brands would find another candidate\nto help reduce its earnings exposure to tobacco.\n \"This is just typical,\" said George Thompson of\nPrudential-Bache securities. \"There's going to be more to come\nhere. American Brands had to make an acquisition because\ntobacco is still a significant part of earnings. Their position\nis a little less favorable than Philip Morris and RJ Reynolds,\"\nhe said.\ncash flow from its low growth tobacco, but the tobacco business\ndoes require great amounts of capital expenditures. It can\ntherefore use its funds to make acquisitions. Analysts said the\nNational Distillers' spirits company, which makes Gilbey's gin\nand vodka, Old Grandad and Old Crow whiskey, is not quite the\ntype of acquisition they envisioned.\n \"The distilled spirits business has been in a steady\ngradual decline for sometime, as has the tobacco business,\"\nsaid Thompson.\n REUTER...\n\u0003",
"date": " 8-APR-1987 17:59:37.63",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15363"
},
{
"title": "BUNDESBANK CALLS FOR CENTRAL BANK COOPERATION",
"body": "Bundesbank board member Claus Koehler\ncalled on central banks of major industrialised nations to\ncooperate closely on exchange and interest rate policies.\n In a lecture at the University of Surrey, pre-released\nhere, Koehler said that the only alternative to cooperation was\nprotectionism and control on capital movements.\n \"Central banks have sufficient experience of exchange market\ntransactions to steer exchange rates where they want to have\nthem,\" he said. He added that West German growth forecasts would\nhave to be revised downward because of the recent dollar drop\nto 1.80 marks from above two marks at the start of 1987.\n Koehler said that transactions on foreign exchange markets\nhad parted company with transactions in goods, services and\ninvestments. It was the scale of speculative transactions that\ndetermined market trends.\n Speculative inflows could cause monetary aggregates to\ngrow. To reverse such a rise in the money stock, interest rates\nwould have to be lowered to allow funds to drain off.\n \"In other words, the monetary policy measures required are\ndifferent from -- and sometimes diametrically opposed to --\nthose needed when the money stock is increasing as a result of\nmounting economic activity,\" Koehler said.\n The dollar fall was one means of reducing the massive U.S.\nCurrent account deficit. But attempts to keep the depreciation\ngoing by talking the dollar down posed problems.\n The sharp drop of the dollar had led to an immediate steep\nrise in the cost of U.S. Imports and a sharp fall in the cost\nof European imports. But the volume effect of falling imports\nto the U.S. And rising imports to Europe would take time to\nmake itself felt compared with the price effect.\n \"Hence the depreciation of the dollar may well be going\nfurther than would be necessary to adjust the current account\nover the medium term,\" Koehler said.\n A reduction in the U.S. Current account deficit would occur\nonly if the growth rate of GNP was higher than domestic demand.\nIn Japan and West Germany by contrast, domestic demand should\nrise faster than GNP.\n \"In Germany this did indeed happen in 1986,\" Koehler said.\n If a further appreciation of the dollar was to be\nprevented, the U.S. Current account deficit could be offset by\nan inflow of foreign funds into the U.S..\n But only if there was an appropriate interest rate\ndifferential would Europe and Japan look for financial\ninvestment in the U.S.\n When selecting monetary policy instruments, a central bank\nhad to pay greater heed than in the past to the impact its\nmeasures might have on expectations and consequent decisions.\n Koehler said the Bundesbank was changing money market rates\nby operating on the open market rather than adjusting leading\ninterest rates because of the signal this gives to the market\nand its substantial impact on exchange rates.\n It was not only important to achieve the domestic goals of\nprice stability, economic growth and full employment but also\nto tackle international problems like the exchange rate\nproblem, the debt problem and the current account problem.\n A strategy had to be designed that helped \"the safeguarding\nof non-inflationary economic growth in an international\nmonetary system largely free of disruptions,\" Koehler said.\n Given the system of floating exchange rates, it was\nnecessary for central banks to agree to intervene. It sufficed\nto tell the market where central banks saw exchange rates over\nthe next few years and intervention points should not be set,\nbecause they were only testing points for the market, he said.\n In order to keep the international monetary system free of\ndisruptions central banks should not only intervene jointly but\nalso cooperate on interest rate policies, Koehler said.\n REUTER\n\u0003",
"date": " 8-APR-1987 18:00:34.46",
"topics": [
"interest",
"money-fx"
],
"places": [
"west-germany"
],
"id": "15364"
},
{
"title": "AUSTRALIAN UNEMPLOYMENT RISES IN MARCH",
"body": "Australia's seasonally adjusted\nunemployment rate rose to 8.4 pct of the estimated workforce in\nMarch from 8.2 pct in February and 7.9 pct a year earlier, the\nStatistics Bureau said.\n The number of jobless rose to 650,700 from 631,900 in\nFebruary and 593,200 a year earlier, the Bureau said.\n Unadjusted, the number of unemployed rose to 702,600 from\n699,600 in February but the rate eased to 9.0 pct from 9.1,\nreflecting a slight increase in the estimated workforce. In\nMarch 1986, 640,400 persons, or 8.5 pct of the workforce, were\nout of work.\n REUTER\n\u0003",
"date": " 8-APR-1987 22:06:03.67",
"topics": [
"jobs"
],
"places": [
"australia"
],
"id": "15365"
},
{
"title": "CSR SAYS IT IS RETAINING NON-DELHI GAS-OIL STAKES",
"body": "CSR Ltd <CSRA.S> said its sale of <Delhi\nPetroleum Pty Ltd> will not affect the other oil and gas\ninterests it manages or operates.\n CSR sold Delhi, which holds an average 25 pct in the Santos\nLtd <STOS.S>-led Cooper-Eromanga Basin onshore gas and liquids\njoint ventures, to an Exxon Corp <XON> unit for 985 mln dlrs on\nApril 1.\n In a statement to clarify the position, CSR said it will\nretain its Roma Gas unit, the associated Roma-Brisbane gas\npipeline and the Bula oilfield on Seram, Indonesia, plus\nexploration interests in Queensland and Hainan Island, China.\n REUTER\n\u0003",
"date": " 8-APR-1987 22:23:34.87",
"topics": [
"acq"
],
"places": [
"australia"
],
"id": "15366"
},
{
"title": "JAPAN MINISTRY HAS NO COMMENT ON RICE TALKS REPORT",
"body": "The Agriculture Ministry declined comment\non a local newspaper report that Japan had agreed to hold talks\non its closed rice market in the new GATT round.\n \"We have no idea about the report and cannot comment,\" a\nspokesman told Reuters.\n Nihon Keizai Shinbun, quoting unnamed government sources,\nsaid Japan would tell U.S. Agriculture Secretary Richard Lyng\nand U.S. Trade Representative Clayton Yeutter of its\nintentions. The two are due to visit Japan later this month for\nfarm talks.\n The U.S. Has been pressing Japan to discuss the rice issue\nat the new round of General Agreement on Tariffs and Trade\ntalks. But Japan has said GATT is not the right forum.\n Imports of rice to Japan are banned under the Foodstuff\nControl Act.\n Nihon Keizai said Japan's plan resulted from worries about\nmounting trade tension with the U.S. At the GATT talks, Japan\nwill try to persuade the U.S. That its rice policy is\njustified, it said.\n The 93-nation world trade body began the Uruguay trade\nround last September. It will take four years to negotiate.\n REUTER\n\u0003",
"date": " 8-APR-1987 23:23:26.44",
"topics": [
"grain",
"rice"
],
"organisations": [
"gatt"
],
"places": [
"japan",
"usa"
],
"id": "15367"
},
{
"title": "SHOWA DENKO EXPORTS ALUMINIUM CASTING EQUIPMENT",
"body": "<Showa Denko Ltd> said it is exporting\naluminium billet casting equipment and technology to countries\nthat have recently begun aluminium smelting.\n A company official said it won a 500 mln yen order to\ndeliver 10 sets of casting equipment to Venezuela's Venalum by\nend-1987. He said it received an order for one set from\nAluminium Bahrain B.S.C. Last year and expects further orders\nfrom the Bahrain smelter.\n Showa Denko withdrew from smelting last year but expects to\nincrease its sales of equipment and technology, he said.\n REUTER\n\u0003",
"date": " 8-APR-1987 23:28:21.56",
"topics": [
"alum"
],
"places": [
"japan",
"venezuela",
"bahrain"
],
"id": "15368"
},
{
"title": "N.Z. GOVERNMENT POPULARITY RISES AHEAD OF ELECTION",
"body": "New Zealand's ruling Labour Party\ngovernment has just completed its three-year economic reform\nwhich threw thousands of people out of work, yet its popularity\nhas risen as the September deadline for the election draws\ncloser, a recent poll shows.\n An Eyewitness/Heylen Poll, conducted for Television New\nZealand's Eyewitness news broadcast on April 2, showed Labour\nhad the support of 50 pct of voters compared with the\nopposition National Party's 46 pct.\n The figures had been reversed in a poll a month earlier.\n The poll showed 40 pct of the canvassed voters thought the\neconomy would improve over the next year, up 12 points on last\nmonth's result.\n The increase came in a week when the government turned\nseven departments into nine profit-oriented corporations run by\nbusinessmen who promptly sacked some 4,000 employees, including\nhalf the country's 1,700 coal miners.\n The latest survey confounded those who proclaimed Labour's\ndays were numbered because of perceived insensitivity to its\ntraditional backers, the workers, political analysts said.\n The poll indicates people are swinging behind the party and\nthe arguments of Finance Minister Roger Douglas, who has\npresided over the deregulation of the economy and the\nconstruction of one based on market forces without subsidies or\ncurrency controls, the analysts said.\n The economic reforms, by a party increasingly regarded in\nNew Zealand as more akin to the West European-style Social\nDemocrats than working class socialists, have rattled the\nNational Party, which is now regretting it was not as\ninnovative in the decade it ruled until Prime Minister Robert\nMuldoon was ousted in 1983, one analyst said.\n The National Party was further shaken, the analyst said,\nwhen the Press, a Christchurch daily, said on April 2 the party\nwas \"on the verge of flying apart\" with the prospect of a coup\nattempt against leader Jim Bolger by Muldoon. Bolger said the\narticle was an April Fool's joke.\n Labour's reforms have brought unexpectedly strong tax\nrevenues, a lower budget deficit and less state borrowing, an\nimprovement in the balance of payments, a reduction in foreign\ndebt and improved productivity, economists said.\n Inflation should peak at 19.5 pct in the quarter ended\nMarch 31 and fall to about eight pct within a year, they said.\n Labour's reforms have hit every sector, but the most\ndramatic was the \"corporatisation\" of seven government\ndepartments on April 1, which critics argue is the first stage\nstep towards the sale of state assets, the analysts said.\n The move stops short of privatisation, as the state will\nretain ownership, but the new corporations are expected to be\nfinancially self-supporting and pay dividends.\n Arguments have already broken out over money. One utility,\nElectricorp, said its assets are worth less than 3.8 billion\ndlrs yet the Treasury wants 8.5 billion for them.\n No agreement has been reached on the value of assets of the\nformer forest service, the analysts added.\n Chairman Alan Gibbs said in a speech the forest service had\nbeen losing 100 mln dlrs annually, yet due to economies it now\nemployed less than 30 pct of its previous workforce and the new\ncorporation would pay the state a dividend of at least 20 mln\ndlrs in its first year.\n Uncertainties have also arisen over the government, as the\nonly shareholder, retaining the right to order the new\ncorporations to undertake certain projects although the full\ncost must be met by the state, the analysts said.\n Deputy prime minister Geoffrey Palmer said managers would\nbe held accountable for performance, with the government paying\nfor projects undertaken for social or environmental reasons.\n This policy has already caused problems, the analysts\nadded. For example, Electricorp has refused to spend several\nhundred million dlrs to build a hydro project at Luggate,\nfurther up the Clutha river from the Clyde high dam now under\nconstruction in Central Otago.\n Prime Minister David Lange said this week that Labour MPs\nhad decided last year that Luggate be built and it was\nimportant that the government honour its promises.\n \"But it is also a matter of importance that we do not see\nmany more jobs lost because of economic distortion than we\nwould save by having that promise honoured to the last,\" he\nadded.\n REUTER\n\u0003",
"date": " 8-APR-1987 23:49:48.57",
"places": [
"new-zealand"
],
"id": "15369"
},
{
"title": "HOSPITAL CORP OF AMERICA <HCA> GETS MERGER BID",
"body": "Hospital Corp of America said it\nreceived a letter today from an investor group offering to buy\nthe company for 47 dlrs a share.\n Based on 82 mln outstanding shares, the offer is worth\nabout 3.85 billion dlrs. But the company said that it would\ntake more than five billion dlrs to consummate the merger and\nretire certain company debt.\n It said it does not believe the offer is in the best\ninterest of shareholders, but added that it is referring the\nmatter to its board for discussions and would respond in due\ncourse.\n Hospital Corp of America said the letter was sent by\nCharles Miller and Richard Ragsdale, two former officers of\n<Republic Health Corp>, and Richard Scott, a partner in a\nDallas law firm.\n The investors' letter stated that based on discussions with\nseveral major financial institutions they were confident\nfinancing for the transaction could be arranged, Hospital Corp\nof America said. But it said the letter did not indicate that\nthe investors had made arrangements to obtain financing.\n It said no further significant details were outlined in the\nletter.\n Hospital Corp of America, a manager and owner of hospitals,\nearned 174.6 mln dlrs or 2.08 dlrs a share, on revenues of 4.93\nbillion dlrs in 1986.\n\n Reuter\n\u0003",
"date": "9-APR-1987 00:00:00.00 # date added by S Finch as guesswork ",
"id": "15370"
},
{
"title": "GOODMAN FIELDER PLANS 100 MLN DLR NOTE FACILITY",
"body": "<Goodman Fielder Ltd>, an Australian\nfood products and supermarket firm, is planning a 100 mln U.S.\nDlr multi-option note issuance facility, lead manager BT Asia\nLtd said.\n Under the three-year \"evergreen\" facility, which can be\nextended annually, notes will be issued by its subsidiaries\n<Goodman Fielder New Zealand Ltd> and <Goodman Fielder\nIndustries Ltd> and guaranteed by the parent company.\n The facility is underwritten up to 75 mln dlrs at a maximum\nof 17.5 basis points over the London interbank offered rate.\nThe underwriting fee is 10 basis points, BT Asia said.\n The facility will allow the issuers to opt for notes not\nexceeding 50 mln Australian dlrs and 50 mln New Zealand dlrs on\na non-underwritten basis, but the outstanding total is limited\nto 100 mln U.S. Dlrs, BT Asia said.\n The notes, in denominations of 100,000 U.S. Or Australian\nor New Zealand dlrs, will have maturities of one to 12 months.\n The borrower has a further option to issue, also on a\nnon-underwritten basis, medium term notes with maturities of\none to three years, it added.\n The management fee was not disclosed and syndication is\nexpected to close tomorrow.\n REUTER\n\u0003",
"date": " 9-APR-1987 00:04:07.28",
"places": [
"hong-kong",
"australia"
],
"id": "15371"
},
{
"title": "ECONOMIC SPOTLIGHT - TELECOM IS KEY JAPAN MINISTRY",
"body": "Japan's little-known Ministry of Posts and\nTelecommunications (MPT) has emerged as an international force\nto be reckoned with, political analysts said.\n MPT, thrust into the spotlight by trade rows with the U.S.\nAnd Britain, is in a position of strength due to its control of\na lucrative industry and its ties with important politicians,\nthey said.\n \"The ministry is standing athwart the regulatory control of\na key industrial sector, telecommunications and information,\"\nsaid one diplomatic source.\n \"They are a potent political force,\" the diplomatic source\nsaid.\n But MPT is finding domestic political prowess does not\nalways help when it comes to trade friction diplomacy, analysts\nsaid.\n \"The ministry was a minor ministry and its people were not\nso internationalized,\" said Waseda University professor Mitsuru\nUchida. \"Suddenly they're standing at the centre of the world\ncommunity and in that sense, they're at a loss (as to) how to\nface the situation.\"\n Most recently the ministry has been embroiled in a row with\nLondon over efforts by Britain's Cable and Wireless Plc to keep\na major stake in one of two consortia trying to compete in\nJapan's lucrative overseas telephone business.\n The ministry has favoured the merger of the two rival\ngroups, arguing the market cannot support more than one\ncompetitor to Kokusai Denshin Denwa Co Ltd, which now\nmonopolizes the business.\n It has also opposed a major management role in the planned\nmerger for any non-Japanese overseas telecommunications firm on\nthe grounds that no such international precedent exists.\n The ministry's stance has outraged both London, which has\nthreatened to retaliate, and Washington, which says the merger\nplan is evidence of Japan's failure to honour pledges to open\nits telecommunications market.\n Washington is also angry over other ministry moves which it\nsays have limited access for U.S. Firms to Japan's car\ntelephone and satellite communications market.\n Much of MPT's new prominence stems from the growth of the\nsector it regulates.\n \"What has been happening is an important shift in the\neconomy which makes the ministry a very important place,\" said\nJames Abegglen, head of the consulting firm Asia Advisory\nService Inc.\n A decision to open the telecommunications industry to\ncompetition under a new set of laws passed in 1985 has boosted\nrather than lessened MPT's authority, analysts said.\n \"With the legal framework eased, they became the de facto\nlegal framework,\" said Bache Securities (Japan) analyst Darrell\nWhitten.\n Close links with the powerful political faction of the\nruling Liberal Democratic Party (LDP) nurtured by former Prime\nMinister Kakuei Tanaka are another key to MPT's influence, the\nanalysts said.\n \"Other factions ignored MPT (in the 1970s), but the Tanaka\nfaction was forward looking and ... Recognized the importance\nof MPT,\" Uchida said. Many former bureaucrats became members of\nthe influential political group, he added.\n The ministry also has power in the financial sector due to\nthe more than 100,000 billion yen worth of deposits in the\nPostal Savings System, analysts said.\n MPT has helped block Finance Ministry plans to deregulate\ninterest rates on small deposits, a key element in financial\nliberalisation, since the change would remove the Postal\nSavings System's ability to offer slightly higher rates than\nbanks, they said.\n Diplomatic sources, frustrated with what they see as MPT's\nobstructionist and protectionist posture, have characterized\nthe ministry as feudal.\n Critics charge MPT with protecting its own turf, limiting\ncompetition and sheltering the former monopolies under its\nwing. Providing consumers with the best service at the lowest\nprice takes a back seat to such considerations, they said.\n But many of the ministry's actions are not unlike those of\nits bureaucratic counterparts in much of the Western world\nincluding Britain, several analysts said.\n \"The United States is really the odd man out,\" Abegglen said.\n\"For a government to take the view that it wants to keep order\nin utilities markets is not an unusual and/or unreasonable\nview,\" he said.\n REUTER\n\u0003",
"date": " 9-APR-1987 01:28:42.04",
"topics": [
"acq",
"trade"
],
"places": [
"japan",
"usa",
"uk"
],
"id": "15372"
},
{
"title": "MEMBERS OF JAPAN'S RULING PARTY SHUN NAKASONE",
"body": "Members of prime minister Yasuhiro\nNakasone's ruling Liberal Democratic Party (LDP) have shunned\nhis support in their campaigns for upcoming local elections.\n \"His presence will do more harm than good,\" an LDP candidate\nin Tokyo told Reuters. The candidate is one of several\nconservatives who have rebelled and joined the public outcry\nagainst Nakasone's proposal for a five pct sales tax.\n Political analysts said Nakasone might have to step down\nbefore the Venice summit of industrial democracies on June 8-10\nif the LDP lost too many major local seats.\n Nakasone's popularity has dropped sharply since he led his\nparty to its greatest-ever election victory last July, and\nanalysts said the proposed tax was one reason for the decline.\n Over 2,500 local seats will be filled during two rounds of\npolling. The first round is on Sunday, the second on April 26.\n Political analysts said a seat to watch would be the\ngovernorship of Fukuoka, southern Japan. The LDP and two centre\nparties are challenging the incumbent governor, Hachiji Okuda,\nwho is supported by the opposition socialist and communist\nparties.\n The proposed tax is a key campaign issue.\n \"The LDP and the centrist parties should have about\n1,350,000 votes against 700,000 for Okuda. But Okuda is the\nincumbent and has the sales tax weapon,\" said Rei Shiratori,\nprofessor of political science at Dokkyo University.\n \"Nakasone will serve out his term to the end of October if\nthe LDP wins in Fukuoka,\" he said.\n Analysts believe the opposition is likely to win the\ngovernorship of the northern island of Hokkaido.\n But Kenzo Uchida, professor of political science at Hosei\nUniversity, said, \"Nakasone can afford to get fairly tough if\nthe LDP loses only in Hokkaido.\"\n The opposition parties are campaigning to scrap the sales\ntax proposal.\n The tax is one of the main pillars of Nakasone's plan to\noverhaul the tax system, which has remained unchanged for 36\nyears.\n It is also a key element in plans to boost Japanese\ndomestic demand and cut back on exports. Without the tax\nrevenue the government would have less to spend on stimulating\nthe economy.\n REUTER\n\u0003",
"date": " 9-APR-1987 01:57:22.15",
"places": [
"japan"
],
"id": "15373"
},
{
"title": "AUSTRALIAN SHARE MARKET CLOSES AT ALL-TIME HIGHS",
"body": "Keen demand for gold stocks and quality\nindustrials pushed the Australian share market to all-time\nhighs in active trading, brokers said.\n A higher close on Wall Street, a strong local dollar and\neasier domestic interest rates boosted sentiment in the\nindustrial sector, while demand for gold stocks continued\ndespite a slightly softer bullion price.\n Brokers said Western Mining featured in trading, gaining 30\ncents to 9.00 dlrs after announcing a five-for-eight bonus\nissue. By the close of trading, the all ordinaries index had\nrisen 12.5 points above yesterday's close to a record 1,771.6.\n The all industrials index gained 20.8 points to 2,639.3 and\nthe all resources 6.2 to 1,110.2. The gold index passed\nyesterday's record close by 73.6 points to reach 3,156.2.\n National turnover was a high 206.7 mln shares worth 376.3\nmln dlrs, with rises outnumbering falls five to three.\n Turnover was boosted by a large number of special sales,\nincluding one for 5.0 mln Kalimantan Gold at 65 cents, 5.95 mln\nMinora Resources at 23 cents, 3.57 mln Barrier Reef at 65, and\nabout 13 specials in Elders IXL totalling more than 2.0 mln\nshares, brokers said. Elders rose 14 to 5.64 as more than 6.0\nmln traded following news it will float Courage hotels.\n Elsewhere in the industrials sector, investors concentrated\non banking and insurance stocks and those in the food and\nalcohol and tobacco sectors. ANZ gained 12 cents to 3.70 dlrs,\nWestpac and National Australia four each to 5.06 and 5.64, and\nFAI 10 to 10.60 after reaching a high of 10.90.\n Goodman Fielder advanced 10 to 4.60, Southern Farmers 20 to\n8.40, and Arnotts 10 to 4.70. Amatil gained 10 to 10.70 and\nRothmans 20 to 7.20.\n Others to gain included Bell Group, up 15 to 10.85, IEL, 16\nhigher at 5.36, and Wormald, up 20 at 3.65. Coles Myer rose 20\nto 7.00 after reports it plans to expand overseas.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 02:08:01.26",
"places": [
"australia"
],
"id": "15374"
},
{
"title": "G-7 ISSUES STATEMENT AFTER MEETING",
"body": "Following is the text of a statement\nby the Group of Seven -- the U.S., Japan, West Germany, France,\nBritain, Italy and Canada -- issued after a Washington meeting\nyesterday.\n 1. The finance ministers and central bank governors of\nseven major industrial countries met today.\n They continued the process of multilateral surveillance of\ntheir economies pursuant to the arrangements for strengthened\neconomic policy coordination agreed at the 1986 Tokyo summit of\ntheir heads of state or government.\n The managing director of the International Monetary Fund\nalso participated in the meeting.\n 2. The ministers and governors reaffirmed the commitment to\nthe cooperative approach agreed at the recent Paris meeting,\nand noted the progress achieved in implementing the\nundertakings embodied in the Louvre Agreement.\n They agreed, however, that further actions will be\nessential to resist rising protectionist pressures, sustain\nglobal economic expansion, and reduce trade imbalances.\n In this connection they welcomed the proposals just\nannounced by the governing Liberal Democratic Party in Japan\nfor extraordinary and urgent measures to stimulate Japan's\neconomy through early implementation of a large supplementary\nbudget exceeding those of previous years, as well as\nunprecedented front-end loading of public works expenditures.\n The government of Japan reaffirmed its intention to further\nopen up its domestic markets to foreign goods and services.\n 3. The ministers and governors reaffirmed the view that\naround current levels their currencies are within ranges\nbroadly consistent with economic fundamentals and the basic\npolicy intentions outlined at the Louvre meeting.\n In that connection they welcomed the strong implementation\nof the Louvre Agreement.\n They concluded that present and prospective progress in\nimplementing the policy undertakings at the Louvre and in this\nstatement provided a basis for continuing close cooperation to\nfoster the stability of exchange rates.\n REUTER\n\u0003",
"date": " 9-APR-1987 02:18:23.02",
"topics": [
"trade",
"money-fx"
],
"organisations": [
"imf"
],
"places": [
"usa",
"uk",
"west-germany",
"japan",
"italy",
"canada",
"france"
],
"id": "15375"
},
{
"title": "HONDA TO SELL FOUR-WHEEL STEERING CARS",
"body": "Honda Motor Corp <HMC.T> will sell cars\nequipped with four-wheel steering in Japan from tomorrow and\nwill export the cars to the U.S. And Europe later this year,\ncompany officials said.\n They told a press conference shipments to the U.S. Will\nbegin around July and to Europe around October.\n Four-wheel steering will be available on the Prelude saloon\nat an added cost of 80,000 yen, they said.\n Honda expects to sell 48,000 Prelude saloons in Japan and\nto ship 80,000 to the U.S., 10,000 to Canada and 20,000 to\nEurope by year-end.\n REUTER\n\u0003",
"date": " 9-APR-1987 03:12:19.20",
"places": [
"japan",
"usa"
],
"id": "15376"
},
{
"title": "BRITISH AIRWAYS ISSUES 100 MLN STG EUROBOND",
"body": "British Airways Plc <BAB.L> is issuing a\n100 mln stg eurobond due May 6, 1997, paying 9-1/2 pct and\npriced at 101-1/2, lead manager Union Bank of Switzerland said.\n The non-callable bond is available in denominations of\n1,000 and 10,000 stg and will be listed in London. The selling\nconcession is 1-1/4 pct while management and underwriting\ncombined pays 3/4 pct.\n Payment date is May 6.\n REUTER\n\u0003",
"date": " 9-APR-1987 03:16:30.18",
"places": [
"uk"
],
"id": "15377"
},
{
"title": "BANK OF FRANCE TO HOLD MONEY MARKET TENDER TODAY",
"body": "The Bank of France said it has invited\noffers of first category paper today for a money market\nintervention tender.\n Money market operators were divided over whether the Bank\nof France will use to occasion to cut its intervention rate,\nwhich has stood at 7-3/4 pct since March 9.\n Some thought a price cut unlikely while others said there\nwas room for a further 1/4 point cut by the bank.\n REUTER\n\u0003",
"date": " 9-APR-1987 03:28:44.13",
"topics": [
"money-fx",
"interest"
],
"places": [
"france"
],
"id": "15378"
},
{
"title": "RIO TINTO-ZINC CORP PLC 1986 PRETAX PROFIT 601.7 mln stg\nvs 614.4 mln\n",
"date": " 9-APR-1987 03:35:29.34",
"topics": [
"earn"
],
"id": "15379"
},
{
"title": "RIO TINTO-ZINC NET ATTRIBUTABLE PROFIT LOWER",
"body": "Year to December 31, 1986\n SHR 78.91p vs 83.05p\n DIV 16.5p making 23.5p vs 22p\n PRETAX PROFIT 601.7 mln stg vs 614.4 mln\n NET ATTRIBUTABLE PROFIT 245 mln stg vs 257 mln\n TURNOVER 3.34 billion stg vs 3.09 billion\n Note - Accounts have been restated\n Full name of company is Rio Tinto-Zinc Corp Plc <RTZL.L>\n Group operating profit 529.4 mln stg vs 470.7 mln\n Operating costs 2.81 billion stg 2.63 billion\n Share of profit less losses of related companies 104.4 mln\nstg vs 165.0 mln\n Interest receivable/other income 41.5 mln stg vs 47.4 mln\n Interest payable 73.6 mln stg vs 68.7 mln\n Tax 274.8 mln stg vs 277.1 mln\n Leaving 326.9 mln stg vs 337.3 mln\n RTZ' investment in Australian associate CRA has been equity\naccounted for 1986 and 1985 figures restated on the same basis\nafter the reduction of RTZ's interest to 49 pct in October\n1986.\n REUTER\n\u0003",
"date": " 9-APR-1987 03:52:22.39",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "15380"
},
{
"title": "AUSTRALIAN SHARE VOLUME HITS FIRST QUARTER RECORD",
"body": "The value of turnover on the Australian\nStock Exchange (ASX) soared to a record 17.11 billion dlrs in\nthe first three months of 1987 from 7.50 billion in the\ncorresponding months of 1986, the ASX said.\n Its statement did not give the previous peak.\n First quarter volume also rose sharply, to 9.95 billion\nshares from 4.31 billion a year earlier, it said.\n The record volume reflected increased investment in\nAustralian companies by local and overseas institutions and the\npopularity of gold mining and other resource sector shares, the\nASX said.\n In the nine months ended March 31, turnover value climbed\nto 38.52 billion dlrs from 20.72 billion a year earlier, the\nASX said.\n Volume in the nine month period rose to 24.07 billion\nshares against 13.15 billion a year earlier, it added.\n REUTER\n\u0003",
"date": " 9-APR-1987 04:06:28.13",
"places": [
"australia"
],
"id": "15381"
},
{
"title": "CHINA LIKELY TO JOIN GATT, DIPLOMATS SAY",
"body": "China is likely to succeed in joining\nGATT despite policies that contradict free trade, because\nwestern countries support its entry, western diplomats said.\n China applied to join the General Agreement on Tariffs and\nTrade (GATT) in July 1986. The organisation, formed in 1948 to\nintegrate the world's free market economies, now regulates 80\npct of world trade.\n The GATT secretariat is expected to submit a list of\ndetailed questions to China next month at the start of long and\ncomplex entry negotiations, the diplomats said.\n One diplomat said China's prospects are good, with its\napplication supported by the United States, Japan and the\nEuropean Community for political and economic reasons.\n \"The fear is that if China was refused entry, it would draw\nback the bamboo curtain and go back to the way it was,\" he said.\n Another said the Soviet Union was waiting in the wings.\n \"If GATT accepted China, it would be hard not to accept the\nSoviet Union,\" he said.\n \"China's agreement will be seen as a model for the Soviet\nUnion. GATT is not a political body.\"\n But serious problems have to be tackled during the talks,\nincluding China's pricing system and trade subsidies.\n GATT is based on free trade and aims to lower tariffs and\npromote trade, with prices alone dictating who buys what.\n One diplomat said it was very hard in China to establish\nthe real cost of goods because many prices are set by the state\nand often contain subsidies.\n \"Even when you go in person to a factory or a company to try\nto find out the real cost of something, officials do not give\nyou a clear answer. The political meaning is evident. They do\nnot want to answer,\" he said.\n China's position, as set out in a memorandum to GATT in\nFebruary, is that it is gradually reforming its price system to\nbring prices in line with real production costs and replace\nadministrative controls with market ones.\n Another diplomat said countries with centralised economies\nsuch as Hungary and Yugoslavia had joined GATT. However, China\nwould not apply for membership on similar terms, but rather as\na less developed country entitled to preferential treatment.\n He added that the economies of Hungary and Yugoslavia are\nsmall, while China's is huge and its weight would be felt.\n \"It (China) is the world's number two producer of coal, for\ninstance,\" the diplomat said. \"It could have a very large impact\non world trade.\"\n Another sticking point is the subsidies China pays its\ncompanies to export so it can earn foreign exchange to pay for\nvitally needed technology, equipment and raw materials.\n A Japanese trader said China lost money on every tonne of\ngrain it exported, because it had to make up the difference\nbetween a low world price and a high domestic price.\n A western diplomat said an official of a foreign trade\nbureau of a major inland Chinese city told him export subsidies\nmight be as high as 100 pct for some products.\n \"When I asked what the subsidy figure was for the whole\ncountry, he referred me to the Ministry of Finance, adding with\na grin that they would not tell me,\" he said.\n He said officials were unwilling to give figures because of\nthe sensitivity of the subject.\n \"Unless something is done to change this, China will find\nmany countries in GATT putting restrictions on imports from\nChina,\" the diplomat added.\n In a major speech on the economy late last month, Planning\nMinister Song Ping made an indirect reference to this problem.\n \"While trying to expand exports to earn more foreign\nexchange, we must improve economic accounting practices and\nreduce the cost of exports,\" he said.\n One diplomat said China's freedom to change its foreign\ntrade and pricing system to bring them more in line with GATT\nprinciples could conflict with domestic pressures. China has\nsaid there will be no major price reforms this year following\nwidespread discontent in 1985 and 1986 from a public used to\nstable prices since the Communist takeover in 1949.\n \"So the question is how fast and how thoroughly can China\nreform its economy?,\" the diplomat said. \"How can it balance the\nrequirements of GATT membership with domestic political needs?\"\n But he added the advantages of China's entry would in the\nend outweigh these problems.\n \"China's entry would force it to modernise and become more a\npart of the world economy,\" he said.\n \"Just as China would get increased access to foreign\nmarkets, so it would have to give more access to its domestic\nmarket to foreign countries.\"\n REUTER\n\u0003",
"date": " 9-APR-1987 04:20:25.68",
"organisations": [
"gatt"
],
"places": [
"china"
],
"id": "15382"
},
{
"title": "Burmah Oil 1986 pre-tax profit 105.9 mln stg vs 79.6 mln.\n",
"date": " 9-APR-1987 04:24:40.70",
"topics": [
"earn"
],
"id": "15383"
},
{
"title": "GERMAN BANKERS' REMARKS REVIVE TALK OF RATE CUT",
"body": "Remarks by two leading central bankers\nsparked renewed speculation in financial markets that a cut in\nthe West German three pct discount rate may be under\ndiscussion, currency dealers said.\n Bundesbank board member Claus Koehler said in a speech that\nmonetary growth resulting from speculative capital inflows\nrequired cuts in interest rates.\n Separately, West Berlin state central bank president Dieter\nHiss told journalists that the discount rate could fall below\nits lowest ever point of 2.75 pct. He made clear that he was\nnot making a forecast on interest rates, however.\n Currency dealers here and in the Far East said the dollar\ngained slight background support from the speculation.\n But German dealers noted that the Bundesbank kept the 3.80\npct rate unchanged at which it offered liquidity to the money\nmarket this week, dashing some expectations that it may either\noffer lower fixed rate money or offer a reduced minimum rate\nand let the strength of banks' demands set the allocation rate.\n It allocated 6.1 billion marks in new liquidity, much less\nthan the 14.9 billion leaving the market as a prior pact\nexpired. This further weakened sentiment the Bundesbank could\nmove to a more accommodative monetary stance, dealers said.\n Koehler said in a speech in Surrey, England, speculative\ncapital inflows may cause monetary growth, regardless of\nwhether central banks intervened or exchange rates fell.\n \"In other words, the monetary policy measures required are\ndifferent from -- and sometimes diametrically opposed to --\nthose needed when the money stock is increasing as a result of\nmounting economic activity.\"\n Though Koehler was known to be the most liberal of the\ngenerally monetarist Bundesbank board, his comments marked the\nfirst time cuts in rates had been concretely suggested as a\ncounterpoint to overly strong monetary growth, dealers said.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 04:27:34.27",
"topics": [
"interest"
],
"places": [
"west-germany"
],
"id": "15384"
},
{
"title": "XYVISION ISSUES CONVERTIBLE EUROBOND",
"body": "XYVision Inc is issuing a 25 mln dlr\nconvertible eurobond due May 5, 2002 paying an indicated coupon\nof between 5-3/4 and six pct and priced at par, lead manager\nCredit Suisse First Boston Ltd said.\n The issue is callable after 30 days at 106 pct declining by\none pct per annum to par thereafter. It is not callable for\nthree years unless the conversion price exceeds the stock price\nby 130 pct.\n The selling concession is 1-1/2 pct while management and\nunderwriting each pay 1/2 pct. Final terms will be set on, or\nbefore, April 15.\n The issue is available in bearer and registered form in\ndenominations of 5,000 dlrs. It will be listed in Luxembourg\nwhile the payment date is May 5.\n REUTER\n\u0003",
"date": " 9-APR-1987 04:29:53.11",
"places": [
"uk"
],
"id": "15385"
},
{
"title": "SOVIET TRADE DEFICIT WITH WEST SOARS IN 1986",
"body": "The Soviet trade deficit with the West\nalmost quadrupled last year, reaching 2.72 billion roubles\ncompared with 713 mln in 1985, official figures showed.\n Statistics published by the monthly journal Foreign Trade\nshowed Soviet trade turnover for 1986 fell to 130.9 billion\nroubles from 142.1 billion the previous year, a drop of 7.8\npct.\n Moscow's trade surplus with East Bloc countries continued\nto grow in 1986.\n Western analysts attributed the deficit rise with the West\nto the world oil price slump, which hit Moscow's main export\nand cut hard currency earnings needed for purchases in the\nWest.\n REUTER\n\u0003",
"date": " 9-APR-1987 04:38:31.54",
"topics": [
"trade"
],
"places": [
"ussr"
],
"id": "15386"
},
{
"title": "BURMAH OIL PROFIT CLIMBS TO 105.9 MLN STG",
"body": "Year 1986\n Shr 33.54p vs 34.2p.\n Final div 9.5p, making 14p vs 12.75p.\n Pre-tax profit 105.9 mln stg vs 79.6 mln.\n Net profit before minorities 56 mln vs 52.1 mln.\n Turnover net of duties 1.32 billion stg vs 1.46 billion.\n Minorities 800,000 stg vs same.\n Extraordinary debit 20.4 mln vs 28.2 mln.\n NOTE: Company's full name is The Burmah Oil Co Plc <BURM.L>\nREUTER^M\n\u0003",
"date": " 9-APR-1987 04:41:53.16",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "15387"
},
{
"title": "CHINA'S WHEAT CROP THREATENED BY PESTS, DISEASE",
"body": "Pests and disease, which destroyed 1.1\nmln tonnes of wheat in China in 1986, are threatening crops on\n11.64 mln hectares this year, the China Daily said.\n About 14.54 mln hectares of wheat were affected in 1986.\n The paper said abnormal weather conditions had encouraged\nthe spread of wheat midges in 2.47 mln hectares in Shanxi,\nHenan, Sichuan, Anhui, Hebei and Jiangsu.\n In Henan, Shandong and Hebei wheat aphids are affecting\n4.67 mln hectares, wheat red mite 2.8 mln hectares and wheat\npowdery mildew 1.7 mln hectares.\n REUTER\n\u0003",
"date": " 9-APR-1987 04:47:07.57",
"topics": [
"wheat",
"grain"
],
"places": [
"china"
],
"id": "15388"
},
{
"title": "RTZ SEES RISING U.S. OUTPUT AIDING 1987 RESULTS",
"body": "Rio Tinto-Zinc Corp Plc <RTZL.L>, RTZ,\nsaid the predicted rise in industrial production in the U.S.\nAnd Europe should boost its 1987 performance.\n Consumption of some base metals and their dlr prices are\nshowing signs of improvement, although iron ore markets have\nweakened. The oil price in U.S. Dlrs is above the 1986 average,\nand if sustained, should improve energy earnings.\n The company was commenting in a statement on its 1986\nresults which, on a restated basis, showed net attributable\nprofits lower at 245 mln stg after 257 mln the previous year.\nPretax profits also dipped to 601.7 mln stg after 614.4 mln.\n RTZ said the excellent performance of its expanding range\nof industrial businesses in 1986 was offset by the collapse in\noil prices.\n Industrial businesses contributed 202 mln stg to net\nprofit, a 40 pct increase from 144 mln in 1985, and 60 pct of\nthe total. Trading performance improved at wholly-owned\nsubsidiaries RTZ Borax Ltd, RTZ Cement Ltd, RTZ Chemicals Ltd\nand RTZ Pillar Ltd. First time contributions from recent\ninvestment and acquisitions mainly in speciality chemicals and\nminerals also aided performance.\n Metals activities contributed 83 mln stg to net profit.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\u0003",
"date": " 9-APR-1987 05:05:05.57",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "15389"
},
{
"title": "SOUTH KOREA SIGNS CONTRACTS FOR TWO NUCLEAR PLANTS",
"body": "State-owned Korea Electric Power Corp\n(KEPCO) has signed contracts with three U.S. Firms to supply\nequipment and services for its tenth and eleventh nuclear power\nplants, a KEPCO spokesman said.\n Combustion Engineering Inc <CSP> will supply pressurised\nlight-water reactors, General Electric Co <GE> will provide\nturbines and <Sargent and Lundy Engineers> will supply\nengineering and design services, he said.\n Work on the two plants, at Yongkwang in the southwest of\nthe country, is due to start around June 1988 and be completed\nin 1995 and 1996.\n The firms will receive a total of 430 mln dlrs, or 11.5 pct\nof the construction cost of 3.74 billion dlrs.\n The three suppliers were chosen from 13 bidders after\ntenders closed in April 1986.\n South Korea operates six atomic stations, is building\nanother three and has plans for about 20 by the year 2000.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:18:19.84",
"places": [
"south-korea"
],
"id": "15390"
},
{
"title": "BRIDGESTONE CORP <BRIT.T> YEAR TO DECEMBER 31",
"body": "Group shr 35.99 yen vs 38.28\n Net 21.01 billion vs 21.08 billion\n Current 47.73 billion vs 48.06 billion\n Operating 55.04 billion vs 54.99 billion\n Sales 792.71 billion vs 864.28 billion\n NOTE - Company forecast for current year is group shr 37.70\nyen, net 22 billion, current 52 billion and sales 800 billion.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:19:33.22",
"topics": [
"earn"
],
"places": [
"japan"
],
"id": "15391"
},
{
"title": "CHINESE BANK TO MAKE FIRST FOREIGN BORROWING",
"body": "The state-owned People's Construction\nBank of China is making its first foreign borrowing, 300 mln\ndlrs to finance a large ethylene plant in Shanghai, the\nPeople's Daily said.\n The newspaper's overseas edition said the plant will\nproduce 300,000 tonnes of ethylene a year.\n It said the bank last year started foreign exchange\nservices for the first time on an experimental basis in\nShenzhen, Zhuhai and Xiamen, but it gave no more details.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:27:06.20",
"places": [
"china"
],
"id": "15392"
},
{
"title": "EQUITICORP H.K. UNIT TO RAISE 30 MLN U.S. DLRS",
"body": "<Equiticorp Hongkong Ltd> is planning\na 30 mln U.S. Dlr transferrable loan facility to raise working\ncapital, lead managers <Manufacturers Hanover Asia Ltd> and\n<Manufacturers Hanover Ltd>, said.\n The two year loan with bullet repayment carries interest at\n5/8 of a percentage point over the London interbank offered\nrate. It will be guaranteed by parent company <Equiticorp\nHoldings Ltd> of New Zealand, the managers said.\n Syndication is proceeding and managers and participants are\nbeing invited to participate at four levels with management\nfees ranging from 15 to 30 basis points, it said.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:28:59.40",
"places": [
"hong-kong"
],
"id": "15393"
},
{
"title": "EC SUGAR TENDER SEEN MARKING NO CHANGE IN POLICY",
"body": "The maximum export rebate granted at\nyesterday's EC sugar tender marked no change in policy over\nproducer complaints that they are not obtaining the EC\nintervention price in exporting sugar outside the Community, EC\nCommission sources said.\n The maximum rebate was 46.496 Ecus per 100 kilos for\n118,350 tonnes of sugar, down from 46.864 Ecus the previous\nweek, but the change is explained by world market conditions.\n Producers claim the rebate was short of the level needed to\nobtain a price equivalent to the intervention price by over one\nEcu per 100 kilos, and was 0.87 Ecu short the previous week,\nthe sources said.\n They said this was despite the fact that the Commission had\nto accept 785,000 tonnes of sugar into intervention from\noperators protesting that rebates are too low.\n Operators have now until early May to withdraw this sugar.\nBut they have not given any sign of planned withdrawals unless\nthe Commission reviews its export policy, they said.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:42:58.89",
"topics": [
"sugar"
],
"organisations": [
"ec"
],
"places": [
"belgium"
],
"id": "15394"
},
{
"title": "CIBC UNIT ISSUES AUSTRALIAN DLR ZERO COUPON BOND",
"body": "CIBC Australia Ltd is issuing a zero\ncoupon eurobond with a total redemption amount of 125 mln\nAustralian dlrs due May 15, 1992 priced at 54 pct, sole lead\nmanager CIBC Ltd said.\n The issue is available in denominations of 1,000 and 10,000\nAustralian dlrs and is guaranteed Canadian Imperial Bank of\nCommerce. The selling concession is 3/4 pct, while management\nand underwriting combined pays 5/8 pct.\n The payment date is May 15.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:46:27.86",
"places": [
"uk",
"australia"
],
"id": "15395"
},
{
"title": "BURMAH OIL PROSPECTS REMAIN FAVOURABLE",
"body": "The current year has opened well, with\ntrading prospects remaining favourable, Burmah Oil Co Plc\n<BURM.L> said in a statement with its 1986 results.\n The company plans to maintain a steady rate of investment\nin its marketing operations and to obtain improved profit\nmargins on its liquified natural gas, LNG, project.\n Burmah has the financial capacity to continue making\nacquisitions within its business sectors, it added. The\nrationalisation programme, including sale of the Bahamas oil\nterminal and all peripheral activities, is now complete.\n Pre-tax profit for 1986 rose to 105.9 mln stg from 79.6\nmln.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 05:48:00.52",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "15396"
},
{
"title": "GEBRUEDER SULZER 1986 PROFIT UP ALMOST 60 PCT",
"body": "Year 1986\n Consolidated net profit 67 mln Swiss francs vs 42 mln.\n Dividend 100 francs per registered share vs 80 francs and\n10 francs per participation certificate vs eight.\n Consolidated turnover 4.55 billion francs vs 4.54 billion.\n Parent company net profit 38.2 mln francs vs 26.4 mln.\n Parent company turnover 2.20 billion francs vs 2.29\nbillion.\n Note - Company's full name is Gebrueder Sulzer AG <SULZ.Z>\n REUTER\n\u0003",
"date": " 9-APR-1987 05:56:00.41",
"topics": [
"earn"
],
"places": [
"switzerland"
],
"id": "15397"
},
{
"title": "MITSUBISHI TO ISSUE TWO CONVERTIBLE BONDS",
"body": "Mitsubishi Corp <MITT.T> said it will\nissue a 50 billion yen unsecured seven-year convertible bond\nand a 30 billion yen unsecured nine-year convertible bond on\nthe domestic capital market through public placement with Nikko\nSecurities Co Ltd as lead manager.\n Coupon and conversion price for both par-priced bonds will\nbe set at a board meeting to be held later this month and\npayment is due on May 14, Mitsubishi said in a statement. The\nseven-year bond matures on September 30, 1994, and the\nnine-year bond on September 30, 1996. Mitsubishi's share price\nfell 30 yen to 1,200 on the Tokyo Stock Exchange today.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:56:17.51",
"places": [
"japan"
],
"id": "15398"
},
{
"title": "NEW LONDON AIRPORT WILL OFFER FLIGHTS TO EUROPE",
"body": "The British Civil Aviation Authority\n(CAA) has granted licenses for two airlines, <Brymon Airways>\nand <Eurocity Express>, to fly three lucrative European routes\nfrom the 20 mln stg London docklands airport.\n Brymon plans to offer five flights a day from the London\nCity Airport to Paris, and three to Amsterdam and Brussels.\nEurocity will also operate flights to Duesseldorf and\nRotterdam.\n The airport is due to open in October, and is only a\n20-minute taxi ride from the capital's financial district, the\nCity, compared to an hour to get from the City to the nearest\nexisting airport, Heathrow.\n REUTER\n\u0003",
"date": " 9-APR-1987 05:59:31.95",
"places": [
"uk"
],
"id": "15399"
},
{
"title": "JAPAN BUSINESS LEADERS SAY G-7 ACCORD IS WORRYING",
"body": "The leaders of two of Japan's top business\ngroups said in separate statements the Group of Seven (G-7)\naccord reached in Washington yesterday is of deep concern to\nJapan because it shows the major industrial nations regard the\nyen's current level as appropriate.\n Eishiro Saito, chairman of the Federation of Economic\nOrganizations (Keidanren), said the yen's present rate is well\nabove adequate levels. He did not elaborate.\n Takashi Ishihara, chairman of the Japan Committee for\nEconomic Development, said the accord will not prevent the yen\nfrom rising further.\n \"We do not understand why the G-7 approved present rates as\nthe yen has risen excessively since the Paris accord,\" Ishihara\nsaid.\n G-7 members Britain, Canada, France, Italy, Japan, the U.S.\nAnd West Germany said in a statement they consider their\ncurrencies are now within ranges broadly consistent with\neconomic fundamentals.\n Saito called on each G-7 member nation to prepare to\nintervene in the market strongly enough to ensure exchange\nrates are stabilised at appropriate levels.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:02:39.02",
"topics": [
"yen"
],
"places": [
"japan"
],
"id": "15400"
},
{
"title": "CHINA LIGHT UNIT RENEWS COMMERCIAL PAPER FACILITY",
"body": "<Kowloon Electricity Supply Co Ltd>, a\njoint venture of China Light and Power Co Ltd <CLPH.HK> and\nExxon Corp <XON>, has renewed and increased an existing\ncommercial paper program, arranger <Schroders Asia Ltd> said.\n The fully underwritten program, which expires this month,\nhas been extended to December 1990 and increased to 540 mln\nH.K. Dlrs from the original 500 mln dlrs, it said.\n The underwriting fee is 1/8 of a percentage point over the\nHong Kong interbank offered rate.\n Commercial paper in tenures of one to three months will be\nissued in denominations of one mln dlrs, it said.\n The program offers a U.S. Dlr option whereby commercial\npaper in denominations of 100,000 U.S. Dlrs will be issued\nsubject to the same underwriting margin.\n Joining Schroders as underwriters are Barclays Bank Plc,\nCiticorp International Ltd, Paribas Asia Ltd, Sanwa\nInternational Finance Ltd and Sumitomo Finance (Asia) Ltd.\n The six underwriters will be joined by 11 other financial\ninstitutions in the tender panel.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:04:32.12",
"places": [
"hong-kong"
],
"id": "15401"
},
{
"title": "SANKEI BUILDING ISSUES EQUITY WARRANT EUROBOND",
"body": "Sankei Building Co Ltd is issuing a 60\nmln dlr equity warrant eurobond 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 Sumitomo Bank Ltd and is\navailable in denominations of 5,000 dlrs. The selling\nconcession is 1-1/2 pct while management and underwriting\ncombined pays 3/4 pct. The payment date is May 7 and listing\nwill be in Luxembourg.\n Final terms will be fixed on April 15. The warrants are\nexercisable from May 21, 1987 until April 23, 1992.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:18:41.18",
"places": [
"uk"
],
"id": "15402"
},
{
"title": "CBOT SEES YEN BOND FUTURES LISTING IN SIX MONTHS",
"body": "The Chicago Board of Trade (CBOT) will\nlist yen bond futures contracts once the U.S. Commodity Futures\nTrading Commission gives its approval, which could come within\nsix months, CBOT chairman Karsten Mahlmann said.\n Mahlmann earlier told a press conference he would visit\nKyoji Kitamura, director-general of the Finance Ministry's\nSecurities Bureau, to express the CBOT's concern that Japanese\nfinancial institutions and individuals are not permitted to\ntrade on the CBOT. Mahlmann is on a two-week tour of Hong Kong,\nTokyo and Sydney.\n Mahlmann urged Japan to boost Tokyo's status as a world\nfinancial center by promoting the internationalisation of its\nfinancial industry.\n The Finance Ministry is expected to allow local banks,\nsecurities houses and insurance companies to use overseas\nmarkets from this month, bond market sources said, but\nofficials would only say the issue was under study.\n Initially, the ministry is likely to bar corporate and\nindividual investors due to their relative inexperience, and to\nlimit trading to instruments like currency, stock indexes, time\ndeposits and government debt futures, the sources said.\n Mahlmann told reporters the CBOT will start evening trading\nto coincide with Far East morning activity on April 30. But he\nadded night sessions would not preclude the CBOT from forming\nlinks with Far Eastern exchanges, although nothing had been\ndecided.\n Asked what type of financial futures would be appropriate,\nhe cited products concerning debt and equity.\n The CBOT evening session will run from 6:00 to 9:00 P.M.\nChicago time (2300 to 0200 GMT), which is 8:00 to 11:00 A.M. In\nTokyo, and trading will be limited to four contracts -- U.S.\nTreasury note and bond futures and options, he said.\n Yen bond dealers said a proposed link between CBOT and the\nLondon International Financial Futures Exchange (LIFFE),\ncombined with yen bond futures listings on both, would multiply\nvolume if trade was encouraged by Tokyo-based orders.\n Healthy liquidity growth in cash yen bond markets overseas\nis a prerequisite for expanded futures trading, traders said.\n LIFFE plans to list yen bond futures should go ahead from\nSeptember, possibly coinciding with the CBOT, traders said.\n The CBOT applied for permission to offer a long-term\nJapanese government bond futures contract on March 17, and the\nauthorities must rule on the request within a year.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:19:24.64",
"places": [
"japan",
"usa"
],
"id": "15403"
},
{
"title": "PERGAMON HOLDINGS REDUCES BPCC AND HOLLIS STAKES",
"body": "<Pergamon Holdings Ltd> and its associate\ncompanies said that they had sold 30 mln ordinary shares in the\nBritish Printing and Communication Corp Plc <BPCL.L> and 10.5\nmln in <Hollis Plc> together with other securities.\n No total price was given but the company said the proceeds\nof the sales would be used to fund Pergamon's expansion\nprogramme and worldwide acquisition stategy. The company said\nthat following these sales Pergamon's ordinary shareholdings in\nboth BPCC and Hollis remained above 51 pct. It said it had no\nintention of further reducing its holdings in either company.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:24:36.53",
"topics": [
"acq"
],
"places": [
"uk"
],
"id": "15404"
},
{
"title": "BRITAIN, U.S. TO DISCUSS JAPAN TRADE RELATIONS",
"body": "British Foreign Secretary Sir Geoffrey\nHowe and U.S. Secretary of State George Shultz plan to discuss\nthe growing crisis in trade relations with Japan in talks in\nWashington, government officials said.\n Howe views the apparent deadlock in British attempts to\nsecure a greater share in Japanese domestic markets very\nseriously, said an official travelling with him.\n Britain has threatened to impose retaliatory restrictions\non Japanese finance houses in London if Japan does not open up\nits markets. The U.S. Has already imposed higher tariffs on\ncomputer microchips imported from Japan.\n Michael Howard, the British minister for consumer and\ncorporate affairs, repeated the threat of sanctions before\nleaving Tokyo yesterday at the end of a four-day visit during\nwhich he failed to secure major concessions from the Japanese.\n Howe's main mission in Washington was to brief Shultz on\nPrime Minister Margaret Thatcher's visit to the Soviet Union\nlast week. Shultz is due to fly to Moscow next week.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:29:23.12",
"places": [
"usa",
"uk",
"japan"
],
"id": "15405"
},
{
"title": "NATIONALE NEDERLANDEN PROFITS, SALES STEADY",
"body": "Year 1986\n Net profit 635.5 mln guilders vs 603.4 mln.\n Revenues 17.35 billion guilders vs 17.27 billion.\n Net profit per nominal 2.50 guilder share 5.79 guilders vs\n5.67, corrected for capital increase. (1985 uncorrected figure\n5.73).\n Dividend 2.50 guilders vs 2.38, corrected. (2.40\nuncorrected.)\n Note - Full name is Nationale Nederlanden NV <NTNN.AS>\nREUTER\n\u0003",
"date": " 9-APR-1987 06:29:36.97",
"topics": [
"earn"
],
"places": [
"netherlands"
],
"id": "15406"
},
{
"title": "BOND INTERNATIONAL SELLS H.K. RESIDENTIAL BUILDING",
"body": "<Bond Corp International Ltd> said it\nhas sold a residential block at Hong Kong's mid-levels to a\njoint venture between Sun Hung Kai Properties Ltd <SHKP.HK> and\n<New Town (N.T.) Properties Ltd> for 138 mln H.K. Dlrs.\n Bond International, a subsidiary of the Australia based\nBond Corp Holdings Ltd <BONA.S>, will receive net profits of\nabout 16 mln dlrs from the deal.\n The firm bought the building, which has total floor spaces\nof 110,580 sq ft and is now fully let, as part of a parcel of\nproperties which it acquired from Hongkong Land Co Ltd\n<HKLD.HK> for 1.43 billion dlrs late last year.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:30:48.23",
"places": [
"hong-kong"
],
"id": "15407"
},
{
"title": "G-7 COMMITMENT TESTS JAPAN'S WILL TO BOOST ECONOMY",
"body": "The statement issued today by the Group of\nSeven (G-7) industrialised nations has put Japan under greater\ninternational pressure to stimulate its economy or face a\nfurther rise in the yen, private economists and analysts said.\n They said the communique reflected increased foreign\nfrustration with Japan's burgeoning trade surplus and its\ntight-fisted fiscal policies in the past.\n Unless Japan implements economic measures included in the\nstatement, foreign protectionist sentiment would grow and the\nyen would come under renewed upward pressure, they said.\n The G-7 -- grouping the U.S., Japan, West Germany, Britain,\nFrance, Italy and Canada -- said in the statement they welcomed\nproposals announced by Japan's ruling Liberal Democratic Party\n(LDP) for extraordinary and urgent measures to stimulate its\neconomy and that Japan reaffirmed its intention to further open\nits domestic markets.\n \"It's rather unusual that only Japan was mentioned in the\ncommunique and promised something,\" said Takeshi Saito, general\nmanager of Fuji Bank Ltd's research division. This showed how\nstrongly other nations want Japan to take concrete and\neffective steps to redress its trade surplus, he said.\n The statement referred to some details of Japan's proposed\neconomic measures, such as early implementation of a large\nsupplementary budget exceeding those of previous years and\nunprecedented front-end loading of public works expenditures.\n It did not mention any figure for the projected\nsupplementary budget but LDP officials have said it will amount\nto more than 5,000 billion yen for fiscal 1987, which compares\nwith 2,000 billion provided for the previous year.\n \"It signalled a clear shift away from the conservative\nfiscal policies of the past,\" said Kazuaki Harada, senior\nmanaging director of Sanwa Research Institute.\n For the last five years the government has stuck to a\ntight-fisted fiscal policy in its attempt to stop issuing\ndeficit financing bonds by 1990.\n But mounting foreign pressure for Japan to boost its\neconomy, hurt by the yen's extended rise, hurried the\ngovernment to hammer out a draft economic package and bring it\nto the latest G-7 meeting.\n Harada said Japan should not view expansion of its economy\nas the result of pressure but as an opportunity to lead world\neconomic growth.\n \"The Japanese economy has the potential to take a leadership\nrole and we should recognize it,\" Harada said.\n If Japan fails to meet such international expectations it\nwill invite some retaliatory moves, especially from the U.S.,\nWhich may result in a further rise of the yen, analysts said.\n The G-7 communique represented a test for Japan's\ncommitment to domestically-generated economic growth and to a\nmore balanced world trade structure, they said.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:30:56.92",
"places": [
"japan"
],
"id": "15408"
},
{
"title": "SHANGHAI TYREb FACTORY TO RAISE 30 MLN U.S. DLRS",
"body": "Ta Chung Hua Rubber Factory of\nShanghai will raise a 30 to 35 mln U.S. Dlr loan to expand and\nmodernise its plant, arranger CCIC Finance Ltd said.\n The loan, to be lead managed by the Bank of China, is\nexpected to mature in eight to nine years, but terms have not\nbeen finalized.\n The money will be used to import manufacturing equipment\nincluding technology transfer for the production of truck\nradial tyres. Part of the output will be exported.\n The expansion program is expected to cost a total 54 mln\ndlrs. The shortfall will be financed domestically.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:32:16.02",
"topics": [
"rubber"
],
"places": [
"hong-kong",
"china"
],
"id": "15409"
},
{
"title": "SAUDI RATES RISE AS BAHRAIN BANKS CAUGHT SHORT",
"body": "Saudi riyal interest rates rose as\nBahrain-based banks scrambled to cover short positions, dealers\nsaid.\n Several Bahrain banks had been lending in the fixed periods\nand borrowing in the short dates, but today they found the\nday-to-day money in short supply, dealers said.\n \"Everybody's stuck in the spot-next,\" one trader said.\n Spot-next rose to as high as 6-1/4, six pct from 5-1/4,\nfive pct yesterday, and the borrowing interest spilled over\ninto the periods, with one month rising to around 6-3/16,\n5-15/16 pct from 5-15/16, 7/8 pct yesterday.\n Three months edged up to around 6-9/16, 5/16 pct from\n6-7/16, 1/4 pct, while six months was quoted a touch firmer by\nsome banks at seven, 6-3/4 pct.\n Commercial banks quoted the spot riyal at 3.7500/04 to the\ndollar after 3.7507/09 yesterday.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:33:28.29",
"topics": [
"interest"
],
"places": [
"bahrain",
"saudi-arabia"
],
"id": "15410"
},
{
"title": "BELGIUM TO ISSUE GOLD WARRANTS, SOURCES SAY",
"body": "Belgium plans to issue Swiss franc\nwarrants to buy gold, with Credit Suisse as lead manager,\nmarket sources said.\n No confirmation or further details were immediately\navailable.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:35:14.06",
"topics": [
"gold"
],
"places": [
"belgium",
"switzerland"
],
"id": "15411"
},
{
"title": "TABUCHI ELECTRIC ISSUES 30 MLN SWISS FRANC NOTES",
"body": "Tabuchi Electric Co is launching 30 mln\nSwiss francs of five-year straight notes with a 4-3/4 pct\ncoupon and par issue price, lead mananger Swiss Bank Corp said.\n Payment is due April 22.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:38:14.84",
"places": [
"switzerland"
],
"id": "15412"
},
{
"title": "PHILIPPINE TELEPHONE FIRM PLANS STOCK SPLIT",
"body": "The Philippine Long Distance Telephone Co\n<PLDT.MN> is planning a two-for-one stock split and a 20 pct\nstock dividend later this year to reduce excess market\nbuoyancy, Vice-President Sennen Lazo told Reuters.\n Lazo said the stock split would reduce the par value of the\ncompany's common stock from 10 to five pesos.\n He said the stock split would apply to holders of about 18\nmln common shares of stock on the record date of September 15\n1987. \"The exercise should make our stock more marketable,\" Lazo\nsaid. \"Now it is beyond the reach of many small investors.\"\n PLDT common stock surged from a low of 37 pesos in February\n1986 to 367.50 at close of trading yesterday on the Manila\nStock Exchange.\n Lazo said the 20 pct stock dividend, payable on October 15,\nwould also apply to stockholders on record as of September 15.\n PLDT reported 1986 net income of 1.89 billion pesos, up 68\npct from 778.9 mln pesos in 1985, on operating revenues of six\nbillion pesos, up from 4.7 billion pesos in 1985.\n At end December 1986 the company had 417,100 stockholders.\n A PLDT spokesman said the company's profits are likely to\nbe substantial since the government raised its franchise tax to\nthree pct from two and to impose a 35 pct corporate income tax\nfrom which it was previously exempt.\n The government has not so far ordered the implementation of\nthe tax decision.\n PLDT is the largest of 58 telephone companies in the\nPhilippines. On December 31 1986 the company had 856,014\ntelephones in operation, representing 94 pct of all instruments\nin the country.\n In Manila item \"Philippine Telephone firm plans stock split\"\nplease read in page 3, first para, \"the company's profits are\nlikely to be substantially cut\" (inserting dropped word). This\nreplaces \"the company's profits are likely to be substantial\"\n\u0003",
"date": " 9-APR-1987 06:40:22.52",
"topics": [
"earn"
],
"places": [
"philippines"
],
"id": "15413"
},
{
"title": "COUPON CUT ON BANK OF TOKYO SWISS FRANC ISSUE",
"body": "The coupon on the Bank of Tokyo Ltd's 100\nmln Swiss franc convertible has been cut to 7/8 pct from the\nindicated 1-1/4 pct, lead manager Swiss Bank Corp said.\n The conversion price has been set at 1,590 yen, the same as\ntoday's close.\n The exchange rate has been set at 96.84 yen to the franc.\n Payment is due April 30. The conversion period is from May\n20, 1987 until September 20, 1992.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:42:44.71",
"places": [
"switzerland"
],
"id": "15414"
},
{
"title": "CARGILL CONFIRMS WHITE SUGAR SALE TO INDIA",
"body": "London-based trader Cargill (U.K.) Ltd\nconfirmed it sold one cargo of white sugar to India for\nshipment April 15/May 15 at yesterday's tender.\n Price details were not immediately available but some\ntraders suggested business had been done around 220 dlrs a\ntonne cif.\n India tendered for one or two cargoes of white sugar. There\nwas no specific requirement on shipping period.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:42:58.51",
"topics": [
"sugar"
],
"places": [
"uk",
"india"
],
"id": "15415"
},
{
"title": "MALAYSIA SEEKS 42 BILLION YEN PIPELINE LOAN",
"body": "Malaysia has asked Japan for a 42\nbillion yen 25-year loan to finance the construction of gas\npipelines from eastern Trengganu to southern Johor, the\nOverseas Economic Cooperation Fund (OECF) said.\n OECF's chief representative, Takashi Matsuya, told\nreporters the Japanese Government is appraising the loan.\nAnother OECF official told Reuters Japan is likely to approve\nthe loan because \"it is technically and economically viable.\"\n If approved, the loan would carry a coupon rate of four\npct, a grace period of seven years, Matsuya said. It would be\ndisbursed over three years, he added.\n The pipeline contruction is the second phase of the\nPeninsular Gas Utilisation Project by Petronas, Malaysia's\nnational oil company.\n The first phase was the supply of gas to households in and\naround the eastern oil town of Kertih.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:45:38.33",
"topics": [
"nat-gas"
],
"places": [
"malaysia",
"japan"
],
"id": "15416"
},
{
"title": "CCF REPORTS 34.8 PCT PROFIT BOOST, SHARE SPLIT SEEN",
"body": "Credit Commercial de France <CCFP.PA>\nreported a parent company net profit up 34.8 pct to 140.1 mln\nfrancs from 103.9 mln francs a few weeks before its\ndenationalisation around the end of this month.\n Official sources said the bank, France's sixth largest in\nterms of its deposits and seventh in terms of its assets,\n\nplanned a share split to increase the number of shares on offer\nahead of the sale of 40 pct of its ordinary share capital to\nthe public, of 10 pct to staff and 20 pct abroad.\n Previously one of France's biggest private banks, it was\nnationalised by the Socialists in 1982.\n The sources said it was too early to give details of the\nplanned split or of the share price, but cited April 27 as a\nlikely date for the flotation launch.\n So far 30 pct of the group's capital, currently at 10.33\nmln shares of 100 francs nominal, has been offered for sale to\nlarge private investors to constitute a solid core of eight to\nten shareholders before the flotation.\n The private tender offer closes on April 16, while a 12 mln\nfranc advertising campaign for the flotation begins on Sunday.\n\"The privatisation will be a way of attracting extra clients,\"\nCCF deputy director-general Rene de la Serre told Reuters.\n Market sources put the total value of CCF's privatisation\nat between four and five billion francs.\n De la Serre said the bank was likely to attract at least\nthe same number of investors as <Sogenal>, another recently\nprivatised bank in which 850,000 people bought shares.\n The government's sweeping privatisation programme has also\nincluded the sale of Saint-Gobain <SGEP.PA>, and Cie Financiere\nde Paribas <PARI.PA>. The sale of <Banque du Batiment et des\nTravaux Publics> and <Banque Industrielle et Mobiliere Privee>\nshould be completed this month, while third largest French bank\nSociete Generale <SGEN.PA> will be privatised later this year.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:48:58.11",
"topics": [
"earn"
],
"places": [
"france"
],
"id": "15417"
},
{
"title": "EIB ISSUES 40 BILLION YEN EUROBOND",
"body": "The European Investment Bank (EIB) is\nissuing a 40 billion yen eurobond due May 6, 1994 paying 4-5/8\npct and priced at 101-1/2, lead Nomura 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 1-1/8 pct while management and underwriting\ncombined pays 1/2 pct. The payment date is May 6.\n There is a mandatory purchase fund operating in years one\nand two, except for the first month after the payment date,\nwhereby the EIB can purchase up to five pct of the issue each\nyear if it is trading below par.\n REUTER\n\u0003",
"date": " 9-APR-1987 06:55:10.54",
"organisations": [
"eib"
],
"places": [
"uk"
],
"id": "15418"
},
{
"title": "IDA GIVES 18.6 MLN DLR LOAN TO SRI LANKA",
"body": "The International Development\nAssociation (IDA) is lending 18.6 mln dlrs to Sri Lanka for\nagricultural research and development, the World Bank said in a\nstatement.\n The loan is part of a 26.5 mln dlr project to improve\nproduction of commodities, mainly rice, and raise farmer\nincomes. Other financing for the project will come from Sri\nLanka (7.1 mln dlrs) and West Germany (800,000 dlrs).\n The IDA credit is interest-free and for 50 years. It\nincludes a 10-year grace period but has annual charges of 0.5\npct on the undisbursed balance, and 0.75 pct on the disbursed\nbalance, the Bank statement said.\n The project envisages the creation of a Council of\nAgricultural Research to formulate a national agricultural\nstrategy and introduce a contract research programme to finance\nresearch activities, the Bank said.\n The Washington-based IDA is the World Bank's affiliate for\nconcessionary lending.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:00:08.37",
"organisations": [
"ida",
"worldbank"
],
"places": [
"sri-lanka"
],
"id": "15419"
},
{
"title": "JOHNSON MATTHEY'S PLATINUM GROUP PRICES",
"body": "Johnson Matthey today issued the\nfollowing Platinum group base prices (unfabricated), all U.S.\nDlrs per troy ounce.\n Previous prices in parentheses.\n PLATINUM - 562 (567)\n PALLADIUM - 130 (130)\n IRIDIUM - 400 (400)\n RHODIUM 1,230 (1,230)\n RUTHENIUM - 80 (80)\n\u0003",
"date": " 9-APR-1987 07:02:48.95",
"topics": [
"platinum",
"strategic-metal",
"palladium"
],
"places": [
"uk"
],
"id": "15420"
},
{
"title": "LEX SERVICE BUYS SEARS MOTOR GROUP",
"body": "Lex Service Plc <LEXL.L> said it had\nacquired <Sears Motor Group Ltd>, the retail motor distribution\narm of Sears Plc < SEHL.L>, and an 11.9 mln stg loan note\npayable by Sears Motor for 33.4 mln stg.\n The purchase will be through 1.4 mln stg in cash and the\nissue to Sears Plc of 8.0 mln new Lex ordinary shares.\n The company said in a statement that immediately following\nthe acquisition of the motor group, its car and commercial\nvehicle contract hire fleet of some 3,000 vehicles was sold to\n<Lex Vehicle Leasing Ltd> for 14.3 mln stg in cash, a sum equal\nto the net book value of the vehicles transferred.\n Lex Vehicle is owned equally by Lex Services and <Lombard\nNorth Central Plc>.\n Lex said the shares involved in the transaction were today\nbeing placed for Sears Plc with institutions at 400p. These\nshares will not qualify for the final Lex dividend on 10 April.\n Lex said in a statement that its acquisition of Sears Motor\nGroup represents a major development for its automotive\nactivities. The enlarged retailing operations of the Lex\nAutomotive group now have a turnover of 530 mln stg. Lex's\nexisting automotive interests include Volvo Concessionaires,\nthe sole importer of Volvo cars and parts into the U.K.\n Lex said the turnover for Sears Motor Group in the year to\n31 December 1986 was 242 mln stg and that at the date of the\nacquisition the group had about 50 mln stg in external\nborrowings.\n Lex shares fell on the announcement to trade around 409p\nfrom a 419p close yesterday.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:03:11.64",
"topics": [
"acq"
],
"places": [
"uk"
],
"id": "15421"
},
{
"title": "PHILIPPINES TO IMPORT CEMENT FROM INDONESIA",
"body": "The Philippines will import 250,000 bags\nof cement worth 375,000 dlrs from Indonesia by the end of the\nmonth to meet growing demand from the construction sector,\nTrade and Industry Secretary Jose Concepcion said.\n He told reporters that local cement manufacturers had\nstepped up production but were falling short of demand. \"The\nonly solution is to import,\" he added.\n Concepcion said average monthly requirements of cement in\n1986 were 6.7 mln bags while supply hovered around 9.3 mln\nbags, but this year demand had grown to 10.4 mln bags per\nmonth.\n Trade and Industry sources said construction sector\nrepresentatives estimated an additional 70,000 bags would be\nrequired daily to meet demand.\n Cement is officially priced at 48.50 pesos per bag, but\nconstruction industry sources said it was selling at black\nmarket rates of up to 65 pesos a bag in some areas.\n The sources said falling interest rates as well as a\ngovernment budget of four billion pesos in 1987 for low-cost\nhousing had fuelled a construction boom.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:07:30.82",
"places": [
"philippines",
"indonesia"
],
"id": "15422"
},
{
"title": "JAPAN DEVELOPMENT BANK ISSUES 150 MLN DLR EUROBOND",
"body": "The Japan Development Bank is issuing a\n150 mln dlr eurobond due May 20, 1994 paying eight pct and\npriced at 101-1/8 pct, lead manager Bank of Tokyo International\nLtd said.\n The non-callable bond is guaranteed by Japan and is\navailable in denominations of 5,000 dlrs.\n The selling concession is 1-1/4 pct while management and\nunderwriting combined pays 5/8 pct.\n The payment date is May 20. Listing will be in London.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:08:40.41",
"places": [
"uk",
"japan"
],
"id": "15423"
},
{
"title": "MAJOR RUBBER PRODUCERS TO MEET IN SINGAPORE",
"body": "Officials from Indonesia, Malaysia,\nSingapore and, perhaps, Thailand will meet here tomorrow to\ndiscuss increased regional cooperation on rubber marketing and\nways to raise rubber prices, industry sources said.\n The officials will discuss linking rubber markets in the\nfour countries to improve price transparency, the sources said.\n This is the first time Indonesia is attending such a\nmeeting, they said, but representatives from Thailand may not\nbe able to attend because of their tight schedule. Malaysia,\nIndonesia and Thailand account for 90 pct of world rubber\nexports and Singapore is a major regional rubber trading\ncentre.\n The Malaysian Rubber Futures market, freighting and\ncontracts for rubber are among other issues expected to be\ndiscussed.\n Last month, rubber importing and exporting countries\nadopted a new International Natural Rubber Agreement in Geneva.\nThe new pact is more responsive to market trends than its\npredecessor, the sources said, and earlier provisions allowing\nthe buffer stock to borrow from banks have been eliminated.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:10:53.05",
"topics": [
"rubber"
],
"places": [
"singapore",
"indonesia",
"malaysia",
"thailand"
],
"id": "15424"
},
{
"title": "MEPC EXTENDS OFFER FOR OLDHAM",
"body": "MEPC Plc <MEPC.L> said that its offer for\n<Oldham Estates Ltd> would remain open until further notice.\n On February 26 MEPC made an agreed bid for Oldham based on\na formula reflecting its asset value at 30 September 1986. A\nyear earlier Oldham's net asset value was put at 531.4 mln stg.\n As of 1 April the valuation used under the formula had\nstill to be agreed so Oldham had yet to give a firm\nrecommendation to its shareholders regarding the value of the\nthe offer.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:11:07.87",
"topics": [
"acq"
],
"places": [
"uk"
],
"id": "15425"
},
{
"title": "TORONTO DOMINION AUSTRALIA DOLLAR BOND INCREASED",
"body": "Toronto Dominion Bank, Nassau Branch, has\nincreased its eurobond offering to 50 mln Australian <dlrs from\n40 mln, lead manager Hambros Bank Ltd said.\n All other terms remain the same.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:13:52.76",
"places": [
"uk"
],
"id": "15426"
},
{
"title": "GEORGE WIMPEY PROFITS UP 42 PCT TO 66.5 MLN STG",
"body": "Year to December 31, 1986.\n Shr 18.35p vs 14.95p\n Div 3.75p vs 2.9p making 4.75p vs 3.75p\n Pretax profit 66.5 mln stg vs 46.9 mln\n Tax 14.6 mln stg vs 4.5 mln\n Net profit 51.9 mln stg vs 42.4 mln\n Turnover 1.44 billion stg vs 1.58 billion\n Note - Full name of company is George Wimpey Plc <WMPY.L>.\n Operating profit before exceptional items 88.9 mln stg vs\n80.5 mln\n Exceptional debits 3.0 mln stg vs 11.6 mln\n Operating profit 85.9 mln stg vs 68.9 mln\n Share of profits less losses of associated companies 1.4\nmln stg vs 2.4 mln loss\n Interest - net payable 20.8 mln stg vs 19.6 mln\n Attributable minority profits debits 0.2 mln stg vs 0.3 mln\n Extraordinary items debit 3.4 mln stg vs 4.3 mln credit\n Net borrowings 195.1 mln stg vs 193.5 mln\n REUTER\n\u0003",
"date": " 9-APR-1987 07:17:12.50",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "15427"
},
{
"title": "CANADA FEBRUARY TRADE SURPLUS 1.25 BILLION DLRS AFTER\nJANUARY 623 MLN DLRS SURPLUS\n",
"date": " 9-APR-1987 07:20:29.48",
"topics": [
"trade"
],
"places": [
"canada"
],
"id": "15428"
},
{
"title": "AEGON 1986 NET PROFIT RISES 6.4 PCT",
"body": "Net profit 327.1 mln guilders vs\n307.5.\n Total revenue 7.97 billion guilders vs 8.7 billion.\n Net profit per five guilder nominal share 9.33 guilder vs\n9.25 (corrected for capital increase).\n Final dividend 1.30 guilders and 2.4 pct stock vs 1.30\nguilders and 2.2 pct in stock. Interim dividend already paid\nwas 1.30 guilders.\n Note : full name of company is AEGON NV <AEGN.AS>\n REUTER\n\u0003",
"date": " 9-APR-1987 07:21:35.45",
"topics": [
"earn"
],
"places": [
"netherlands"
],
"id": "15429"
},
{
"title": "CANADA FEBRUARY TRADE SURPLUS 1.2 BILLION DLRS",
"body": "Canada had a trade surplus of 1.25\nbillion dlrs in February compared with an upward revised 623\nmln dlrs surplus in January, Statistics Canada said.\n The January surplus originally was reported at 533 mln\ndlrs. The February surplus last year was 189 mln dlrs.\n February exports, seasonally adjusted, were 10.44 billion\ndlrs against 9.85 billion in January and 10.05 billion in\nFebruary, 1986.\n February imports were 9.19 billion dlrs against 9.23\nbillion in January and 9.86 billion in February, 1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 07:21:50.13",
"topics": [
"trade"
],
"places": [
"canada"
],
"id": "15430"
},
{
"title": "BANK OF JAPAN BUYS DOLLARS IN TOKYO, DEALERS SAY",
"body": "The Bank of Japan bought a modest amount\nof dollars at around 145.10 yen just after the market here\nopened, dealers said.\n Just before the opening, the dollar dropped swiftly as\nspeculators concluded the Group of Seven (G-7) comminuique\nissued in Washington contained nothing basically new, they\nsaid. It fell about a half yen, to around 145.\n The G-7 reaffirmed that their currencies around current\nlevels reflect economic fundamentals.\n One dealer said the Bank of Japan probably intervened in\nAustralia before the opening here, but could not confirm this.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:24:18.75",
"topics": [
"dlr",
"money-fx"
],
"places": [
"japan"
],
"id": "15431"
},
{
"title": "MIYAZAWA SAYS YEN STILL INSIDE PARIS RANGE",
"body": "Japanese Finance Minister Kiichi\nMiyazawa said the strengthening of the yen against the dollar\nthat has occurred since the Paris Agreement was within the\nrange agreed on in the Louvre discussions.\n \"I would say that what has happened (to the yen) in the past\nseveral weeks was not outside the range we agreed to in the\ndiscussions in Paris,\" Miyazawa told a press conference\nfollowing the Group of Seven meeting here.\n He added that the current discussions were a \"reaffirmation\"\nof that agreement, indicating that the \"solidarity\" that occurred\nin Paris was still in place.\n reuter\n\u0003",
"date": " 9-APR-1987 07:24:49.99",
"topics": [
"yen"
],
"places": [
"japan",
"usa"
],
"id": "15432"
},
{
"title": "THREE BRAZILIAN GOVERNORS SEEK REMOVAL OF FUNARO",
"body": "Brazil's three most powerful state\ngovernors have joined forces to seek the removal of Finance\nMinister Dilson Funaro.\n The governors of Sao Paulo, Rio de Janeiro and Minas Gerais\ntold a news conference they want changes in the cabinet and in\nthe shaping of economic policy, with Funaro singled out for\ncriticism by Sao Paulo governor Orestes Quercia.\n They made their call while Funaro is in Washington holding\ntalks with creditors on rescheduling Brazil's 111 billion dlr\nforeign debt.\nreuter^M\n\u0003",
"date": " 9-APR-1987 07:25:34.63",
"places": [
"brazil"
],
"id": "15433"
},
{
"title": "THREE KILLED IN BOTSWANA BLAST",
"body": "Three people were killed and two others\ninjured when a huge explosion, believed to be a bomb, went off\nin a suburb of Botswana's capital Gaborone.\n Witnesses told Reuters the blast, near the headquarters of\nthe Botswana Defence Force, occurred at about 2 A.M. (1200 GMT)\nand flattened several houses.\n Minutes after the explosion Botswana soldiers sealed off\nthe scene, which is near where South African troops last May\nlaunched a military attack against alleged guerrilla targets.\n Reuter\n\u0003",
"date": " 9-APR-1987 07:26:21.74",
"places": [
"botswana"
],
"id": "15434"
},
{
"title": "COUPON CUT ON BANK OF TOKYO DOLLAR CONVERTIBLE",
"body": "The coupon on the 100 mln dlr, 15-year,\nconvertible eurobond for the Bank of Tokyo Ltd has been cut to\n1-3/4 pct from the two pct initially indicated, lead manager\nBank of Tokyo International Ltd said.\n The foreign exchange rate has been set at 146.40 yen to the\ndollar but details of the conversion price were not immediately\navailable.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:27:20.94",
"places": [
"uk",
"japan"
],
"id": "15435"
},
{
"title": "U.K. MONEY MARKET GETS 103 MLN STG HELP",
"body": "The Bank of England said it operated in\nthe money market this morning, buying 103 mln stg bank bills.\n The central bank bought in band one 60 mln stg at 9-7/8, in\nband two eight mln at 9-13/16, in band three 26 mln at 9-3/4\nand in band four nine mln stg at 9-11/16 pct.\n This compares with the bank's forecast of a 400 mln stg\nshortfall today.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:27:42.32",
"topics": [
"money-fx",
"interest"
],
"places": [
"uk"
],
"id": "15436"
},
{
"title": "JAPAN CRITICISED FOR \"DUMPING\" OF BANK SERVICES",
"body": "Japan, which has been accused of dumping\neverything from steel to computer microchips on world markets,\nis now under attack for alleged cut-throat selling of a product\nof a different sort -- banking services.\n At meetings here this week, Bank of England officials\npressed their Japanese counterparts to change regulations that\nforeign bankers say give their Japanese rivals an unfair\nadvantage in world financial markets.\n The technical banking talks coincided with, but were\nseparate from, discussions between Japanese officials and\nBritish corporate affairs minister Michael Howard, who left\nTokyo yesterday for South Korea.\n At the crux of the talks was the way regulators in various\ncountries measure bank capital and how much capital banks must\nput up to back up their loans.\n It is generally agreed that shareholders' equity forms the\nbulwark of bank capital but there is disagreement about what\nelse should be included.\n Some foreign bankers contend that their Japanese rivals can\nundercut them on loans and other banking services because\nTokyo's capital regulations are easier to meet.\n The Japanese banks have an unfair advantage, Paul Hofer,\nhead of the Foreign Bankers Association of Japan, told Reuters.\n Sumitomo Bank Ltd chief economist Masahiko Koido said, \"They\nsee us as very aggressive. We say we are just trying to catch\nup with them.\"\n Earlier this year, the United States and Britain agreed to\nadopt common regulations requiring banks to put up capital\nequivalent to at least six pct of total assets. The two\ncountries urged others to follow suit, notably Japan.\n But Japanese Finance Ministry officials held out little\nhope that would happen soon as they just introduced new\nregulations governing capital ratios last May.\n Under those regulations, banks have until 1990 to attain a\ncapital ratio of four pct. But, in tacit recognition of\noverseas pressure, the ministry set a six pct target for\nJapanese banks with overseas branches.\n But foreign bankers say the rub was that it allowed Japan's\nbanks to count 70 pct of the value of their massive holdings of\nJapanese shares - their so-called hidden reserves - as capital.\n Without the shares, big Japanese banks would only have\ncapital ratios of around three pct. With them, their ratios are\nwell above six pct, especially after the recent record-breaking\nclimb of Tokyo share prices.\n Western diplomats argue that the shares are valued far too\nhigh by the ministry. Japanese banks would never be able to\nrealize anywhere near that amount if they were forced to sell\nthe shares to raise funds in an emergency, they say.\n Finance Ministry officials defended their stance by saying\nthat studies of the stock market over the last 30 years show\nthat prices have rarely fallen below the 70 pct value level.\n But the U.S. Federal Reserve seems to think otherwise.\nJapanese officials say the Fed has effectively held up\napplications for bank licenses by Japanese financial\ninstitutions by asking them for a very detailed accounting of\ntheir hidden reserves.\n The officials say Japan recently raised the issue with the\nFed through its embassy in Washington and is hoping for talks\non the subject.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:28:27.90",
"places": [
"japan"
],
"id": "15437"
},
{
"title": "NATNED FORECASTS 1987 RESULTS IN LINE WITH 1986",
"body": "The Netherlands' largest insurer\nNationale Nederlanden NV <NTTN.AS> (NatNed) said it expected at\nleast unchanged results in 1987 after reporting 1986 net\nprofits up 5.3 pct to 635.5 mln guilders from 603.4 mln in\n1985,\n Revenues increased by 0.5 pct to 17.35 billion guilders\nafter 17.27 billion the previous year, and the dividend was\nraised to 2.50 guilders per share from 2.38 guilders in 1985,\ncorrected on a capital increase.\n The company said guilder revenue and profit were pressured\nby falls in exchange rates, particularly in the US and\nAustralian dollar and sterling.\n Without these currency fluctuations, net profit would have\nbeen 30.7 mln guilders higher and revenue 1.97 billion higher,\nNatNed said.\n The international share in turnover was 50 pct in 1986\ncompared with 52 pct in 1985.\n The company's life insurance result fell to 365.7 mln\nguilders after 428.4 mln in 1985 due to currency influences,\ntighter interest margins and increased investment.\n Claim payouts fell to 9.9 mln guilders after 66.6 mln the\nprevious year.\n The company's total assets reached 69.87 billion guilders\nin 1986 against 67 billion the year before.\n Assets per share equalled 65.68 guilders against 65.53.\n Without these currency fluctuations, net profit would have\nbeen 30.7 mln guilders higher and revenue 1.97 billion higher,\nNatNed said.\n The international share in turnover was 50 pct in 1986\ncompared with 52 pct in 1985.\n The company's life insurance result fell to 365.7 mln\nguilders aft\n INTERRUPTED\n\u0003",
"date": " 9-APR-1987 07:33:57.54",
"topics": [
"earn"
],
"places": [
"netherlands"
],
"id": "15438"
},
{
"title": "BRITAIN, U.S. TO DISCUSS JAPAN TRADE RELATIONS",
"body": "British Foreign Secretary Sir Geoffrey\nHowe and U.S. Secretary of State George Shultz plan to discuss\nthe growing crisis in trade relations with Japan in talks in\nWashington, government officials said.\n Howe views the apparent deadlock in British attempts to\nsecure a greater share in Japanese domestic markets very\nseriously, said an official travelling with him.\n Britain has threatened to impose retaliatory restrictions\non Japanese finance houses in London if Japan does not open up\nits markets. The U.S. Has already imposed higher tariffs on\ncomputer microchips imported from Japan.\n Michael Howard, the British minister for consumer and\ncorporate affairs, repeated the threat of sanctions before\nleaving Tokyo yesterday at the end of a four-day visit during\nwhich he failed to secure major concessions from the Japanese.\n Howe's main mission in Washington was to brief Shultz on\nPrime Minister Margaret Thatcher's visit to the Soviet Union\nlast week. Shultz is due to fly to Moscow next week.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:35:41.28",
"places": [
"uk",
"usa",
"japan"
],
"id": "15439"
},
{
"title": "CONTI SHARES OPEN HIGHER ON GOOD NEW TYRE REVIEWS",
"body": "Shares of Continental Gummi-Werke AG\n<CONG.F> opened eight marks stronger in an otherwise mixed\nFrankfurt market and dealers attributed the trend to favourable\npress reports about a new tyre system the company is\ndeveloping.\n The shares later eased to 344.50.\n A spokesman for the West German Automobile Association,\nADAC, said the ADAC magazine in a recent edition described\nadvantages of the new tyre.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:36:07.24",
"places": [
"west-germany"
],
"id": "15440"
},
{
"date": " 9-APR-1987 07:38:18.81",
"topics": [
"reserves"
],
"places": [
"france"
],
"id": "15441"
},
{
"title": "EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE",
"body": "European currency markets reacted quietly\nto the G-7 communique, with comments from bankers and dealers\nranging from disappointment that it was not more concrete to\nsurprise that the markets should have expected so much.\n The dollar opened lower against virtually all currencies\nand traded in a narrow range after the communique, which\nreaffirmed support for the Paris accord on currency\nstabilisation but contained no moves to strengthen it.\n Dealers in Frankfurt and Zurich saw the dollar remaining\nbroadly entrenched in its current trading range.\n \"The dollar is likely to stay within a range of 1.80 to 1.84\nmarks,\" said Gisela Steinhaeuser, senior dealer at Chase Bank\nAG. She said there was some resistance to further climbs.\n However, she said the dollar could break out of the range\nwith major surprises such as a worse-than-expected U.S.\nMerchandise trade deficit, due next Tuesday.\n Theodor Stadelmann, dealer with Bank Julius Baer and Co Ltd\nin Zurich, said he expects the dollar to hold steady against\nthe mark and Swiss franc but to weaken further against the yen,\npossibly to 140 yen.\n A Milan banker shared Stadelmann's view, saying he expects\na dollar-yen range of 140-150 in the short term.\n London traders said the G-7 communique failed to curb\nunderlying bearishness toward the dollar but this negative\nsentiment was not yet strong enough to tempt interbank\noperators to test the downside.\n Concern that finance ministers and officials still in\nWashington could issue more concrete statements in favour of\ncurrency stabilisation kept players sidelined, along with\nworries about provoking fresh central bank intervention in the\nnear term, the traders said.\n Most Paris dealers expressed disappointment at the\ncommunique, saying nothing has changed to reverse the dollar's\ndownward trend.\n Traders in several centres said the market would look for\nfresh opportunities to test the willingness of central banks to\ndefend current ranges, which the communique said were \"broadly\nconsistent with economic fundamentals and the basic policy\nintentions outlined at the Louvre meeting.\"\n Dave Jouhin, senior dealer at Midland Bank in London, said\n\"They're going to put somebody's resolve to the test soon.\" The\nU.S. February trade data may provide the trigger, dealers said.\n However, some dealers said London-based operators would be\nunlikely to open major positions next week ahead of the long\nEaster weekend. They saw near-term technical support at 1.825\nmarks and 145 yen and resistance about 1.83 marks and 146 yen.\n Chase Bank's Steinhaeuser and other Frankfurt dealers said\nthe G-7 communique guaranteed a relatively calm and stable\nmarket for the foreseeable future compared with the extreme\nvolatility seen in the first few months of this year.\n One dealer at a German bank said the wording of the\ncommunique made clear the leading nations did not want a\nfurther dollar drop, and this was supporting the dollar.\n The German dealer saw the dollar gradually appreciating to\n1.87 marks, broadly seen as its upper limit within the Louvre\naccord's supposed currency target range.\n A Swiss bank economist said he believed the markets were\nready for a period of \"mainly sideways movement.\"\n But Milan dealers were sceptical about the communique\ncontributing to greater stability.\n \"Nothing has changed substantially to give the dollar a big\nboost,\" said one dealer, while another Italian banker said he\nexpects the dollar to trade between 1.77 and 1.87 German marks\nin the next three months.\n A Swiss monetary source, who asked not to be named, said\nthe communique had been in line with realistic expectations and\nshould not have produced disappointment.\n \"The problem is that the changes needed in fiscal and trade\npolicies to redress current imbalances are of a different\ntimescale than currency markets operate on,\" the source told\nReuters, \"This is a political process which takes time.\"\n Alois Schwietert, chief economist at Swiss Bank Corp in\nBasle, also questioned the tone of disappointment evident on\ncurrency markets today. \"Did people really expect a patent\nremedy?\" he asked.\n Bank economists in Paris noted yesterday's meeting was only\nthe first in a series and said the market would watch carefully\nin the next few weeks for any changes in positions.\n A senior economist with Banque Indosuez said the focus was\nnow on trade and growth rather than interest rates. Any move by\nJapan and West Germany to boost their economic growth could\nlead to a quick change in the U.S. Position.\n Dealers in all centres agreed that markets would be wary in\npushing the dollar too far too quickly in the coming months\nwhile central banks appear resolved to use their muscle to\nsupport the Paris accord.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:42:31.51",
"topics": [
"dlr",
"money-fx"
],
"places": [
"switzerland"
],
"id": "15442"
},
{
"title": "SOVIET UNION ACCUSES U.S. OF SPYING",
"body": "The Soviet Union displayed spying\nequipment it said had been placed by American agents in five\ndifferent Soviet buildings in the United States.\n A Foreign Ministry spokesman told a news conference the\nequipment demonstrated \"the widespread, illegal activities\nagainst Soviet people and missions in the United States by\nAmerican special services.\"\n Diagrams and photographs displayed at the news conference\nshowed devices allegedly found in the Soviet embassy in\nWashington, the consulate in San Francisco and in other\nlocations.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:45:02.90",
"places": [
"ussr",
"usa"
],
"id": "15443"
},
{
"title": "GERMAN MONEY MARKET SPLIT ON LOWER RATE PROSPECTS",
"body": "Remarks by central bankers raised some\nhopes the Bundesbank will cut rates on securities repurchase\npacts, but operators remained divided on the likelihood of a\nmove in the near term, money market dealers said.\n Comments by Bundesbank board member Claus Koehler yesterday\nthat rate cuts were needed to curb money supply growth from\nspeculative capital inflows, and by West Berlin state central\nbank president Dieter Hiss that there was no natural lower\nlimit to the discount rate had, however, no immediate impact.\n Call money declined to 3.65/75 pct from 3.75/85 pct but the\ndrop was tied to extra liquidity in the market, dealers said.\n Dealers said the Bundesbank's latest liquidity allotment\nthis week dashed some hopes of lower rates.\n The Bundesbank allotted only 6.1 billion marks yesterday in\nnew liquidity in a repurchase pact at an unchanged rate of 3.80\npct, thus subtracting some 8.8 billion marks from the market,\nas an outgoing 14.9 billion pact expired.\n But some dealers said the smaller volume awarded by the\npact was in line with present liquid money market conditions,\nand did not exlude a cut in the repurchase pact rate soon to\n3.70 pct if money market rates continue at present levels.\n The next opportunity for the Bundesbank to lower rates on\nrepurchase pacts will be in a tender expected next Tuesday.\n Bundesbank officials have already said they favour more\ndiscreet rate adjustments through repurchase pacts, rather than\nthe more public adjustment of leading rates.\n The Bundesbank may either set a fixed allocation rate and\nallow banks to tender for the volume, as has been the case\nsince it lowered its discount rate January 22, or else it may\nallow banks to tender for the rate and set the volume itself.\n Dealers expect volume of the tender to be lower than the\n15.2 billion marks flowing out, to offset other incoming funds.\n Some seven billion marks is expected to flow in next week.\nThis should then flow back into the market as it is deposited\nwith banks.\n Banks were well supplied with liquidity, holding 61.5\nbillion marks in reserves at the Bundesbank on Tuesday.\n Holdings of average daily reserves over the first seven\ndays of April stood at 59.6 billion marks, still above the\nestimated 51 billion required for all of April.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:46:21.65",
"topics": [
"money-fx",
"interest"
],
"places": [
"west-germany"
],
"id": "15444"
},
{
"title": "SWEDISH DRUG FIRM ASTRA RISE ON AIDS HOPES",
"body": "Swedish drug firm AB Astra <ASTS.ST>\nshares rose 48 crowns to 690 in the first two hours of trading\non the Stockholm Bourse, amid hopes its research into\nanti-viral drugs may have promising results in the treatment of\nAcquired Immune Deficiency Syndrome (AIDS).\n Stockbrokers said the shares, which climbed amid heavy\ninstitutional buying, also rose in reaction to an optimistic\nassessment of future products in the firm's annual report which\nwas released this week.\n Brokers Enskilda Fondkommission said in a report this month\nthat Astra was a world leader in anti-viral drugs.\n Although Enskilda said Astra had not made any breakthrough\nin developing a specific drug to treat the Acquired Immune\nDeficiency Syndrome it noted that investors were only now\ndiscovering that the firm's approach in the area was promising.\n \"It is clear that Astra has a tradition in anti-viral\nresearch which should prove valuable in fighting this disease,\"\nthe report by Enskilda, the investment banking unit of\nSkandinaviska Enskilda Banken <SEBS.ST>, said.\n Company officials could not be reached for comment on the\ncauses of today's share rise.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:53:14.75",
"places": [
"sweden"
],
"id": "15445"
},
{
"title": "THAILAND TO RENEW LONG TERM SUGAR CONTRACTS -TRADE",
"body": "Thailand is to negotiate tomorrow with\nselected trade houses for renewal of long term raw sugar sales\ncontracts, to cover the next five years at a rate of 60,000\ntonnes annually, traders said.\n They also reported vague talk Algeria may be seeking 50,000\ntonnes of raws tomorrow but details are unclear.\n REUTER\n\u0003",
"date": " 9-APR-1987 07:58:41.55",
"topics": [
"sugar"
],
"places": [
"uk",
"thailand",
"algeria"
],
"id": "15446"
},
{
"title": "EC LAUNCHES ANTI-DUMPING PROBE ON JAPANESE CHIPS",
"body": "The European Community launched an\ninvestigation into allegations of dumping by Japanese\nsemiconductor makers in a move which diplomats said could mark\nan intensification of world trade strains.\n Tokyo already faces a deadline of April 17 from Washington\nfor the imposition of 300 mln dlrs worth of tariffs on chips it\nimports into the U.S.\n The EC Executive Commission said today the European\nElectrical Component Manufacturers Association complained that\nJapanese firms were selling high capacity EPROM type (erasable\nprogrammable read only memory) chips at unfairly low prices.\n Japan last year took 78 pct of the 170 mln dlr EC EPROM\nmarket, up from 60 pct in 1984. The EC firms said they had been\nforced to offer their products at a discount of up to 30 pct in\norder to compete with the Japanese.\n The Commission said it believed the Association had given\nsufficient elements of proof for dumping to warrant an\ninvestigation, which could lead it to impose duties if it found\nthe complaints were justified.\n The Commission claims last year's accord between the U.S.\nAnd Japan on microchip pricing gives U.S. Firms privileged\naccess to the Japanese market.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:02:59.91",
"topics": [
"trade"
],
"organisations": [
"ec"
],
"places": [
"belgium",
"japan",
"usa"
],
"id": "15447"
},
{
"title": "SWISS TO LAUNCH NEW SERIES OF MONEY MARKET PAPER",
"body": "The Swiss Federal Government will launch\na new series of three month money market certificates totalling\naround 150 mln Swiss francs, the National Bank said.\n Subscriptions close April 14 and payment date is April 16.\n The last series of three month paper issued in March raised\n147.3 mln francs at an issue price of 99.142 pct, giving an\naverage annual yield of 3.501 pct.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:04:26.16",
"topics": [
"money-fx"
],
"places": [
"switzerland"
],
"id": "15448"
},
{
"title": "EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE",
"body": "European currency markets reacted quietly\nto the G-7 communique, with comments from bankers and dealers\nranging from disappointment that it was not more concrete to\nsurprise that the markets should have expected so much.\n The dollar opened lower against virtually all currencies\nand traded in a narrow range after the communique, which\nreaffirmed support for the Paris accord on currency\nstabilisation but contained no moves to strengthen it.\n Frankfurt and Zurich dealers saw the dollar staying broadly\nentrenched in its current trading range.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:07:31.95",
"topics": [
"dlr",
"money-fx"
],
"places": [
"switzerland"
],
"id": "15449"
},
{
"title": "FINANCE MINISTERS AGREE ON NEED FOR STABILITY",
"body": "Finance ministers from seven major\nindustrialized nations agreed on the need to stabilize\ncurrencies at current levels but said more action was needed to\nreduce trade imbalances and sustain economic growth.\n In a communique issued after a four-hour meeting at the\nU.S. Treasury that ended last night, the ministers said the\nvalue of the dollar and other currencies was basically correct\nnow, and they welcomed new measures planned by the Japanese to\nboost their economy.\n West German Finance Minister Gerhard Stoltenberg called it\na \"good meeting\" and in brief remarks exchanged with reporters\nother ministers seemed pleased with its outcome.\n Shortly after the communique was issued and just as foreign\nexchange trading opened in Tokyo, the Bank of Japan intervened\nagain to prevent the yen rising too quickly.\n The communique said, \"The ministers and governors reaffirmed\nthe commitment to the cooperative approach agreed at the recent\nParis meeting. They agreed, however, that further actions will\nbe essential to resist rising protectionist pressures, sustain\nglobal economic expansion and reduce trade imbalances.\"\n It welcomed the plans set this week by the Japan's ruling\nLiberal Democratic Party to stimulate its economy with what the\ncommunique termed \"extraordinary and urgent measures\" including\nan \"unprecedented front-end loading of public works\nexpenditures.\"\n The meeting of the so-called Group of Seven brought\ntogether ministers and central bank governors of the seven\nmajor industrial democracies, the United States, Japan, West\nGermany, France, Britain, Italy and Canada.\n The communique said the ministers reaffirmed the commitment\non cooperation reached in a meeting on February 22 in Paris\nwhen they had agreed to stabilize foreign exchange rates at the\nthen-current levels.\n In the weeks that followed, the dollar continued to fall\nagainst the Japanese yen despite massive dollar purchases by\nthe Bank of Japan and other central banks and is now trading at\naround postwar lows.\n Japan has come under growing criticism from both the United\nStates and European countries for its only modest efforts to\nopen its markets to outside competition and to reduce its\nexports.\n The communique said Japan affirmed its intention to open\ndomestic markets to foreign goods and services but did not\nelaborate.\n It said the officials \"reaffirmed the view that around\ncurrent levels their currencies are within ranges broadly\nconsistent with economic fundamentals and the basic policy\nintentions outlined at the Louvre meeting.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 08:09:03.08",
"topics": [
"money-fx"
],
"places": [
"usa",
"uk",
"japan",
"west-germany",
"france",
"canada",
"italy"
],
"id": "15450"
},
{
"title": "AEGON EXPECTS MODERATE RISE IN 1987 PROFITS",
"body": "Dutch insurer AEGON NV <AEGN.AS>\nreported a 6.4 pct increase in 1986 net profits to 327.1 mln\nguilders and said it expected a moderate increase in profits\nfor 1987.\n Total revenue was eight pct lower in 1986 at 7.97 billion\nguilders vs 8.7 billion guilders in 1985. The company said its\nrevenues were down due to lower foreign exchange rates and a\nchange in accounting practice. It added that revenues would\nhave risen by about seven pct had those changes not occurred.\n Revenue from Dutch operations rose five pct in 1986, mainly\ndue to its life insurance business.\n Health insurance revenues in the Netherlands also rose\ndespite a notable shift to insurances with lower premiums and\nhigher personal risks.\n Damage insurances made losses, mainly due to car damage\ninsurances. AEGON did not specify the loss.\n In the United States, revenue in guilders from health and\nlife insurance was lower. AEGON said this was due to a change\nin accounting for U.S. Annuities.\n AEGON said annuities are subject to such strong personal\ninvestment influences that it should be accounted differently\nfrom the more traditional insurances.\n This change in accounting practice and another change to\naccount for profits made on fixed interest investments,\nresulted in an incidental rise in net profits of 31 mln\nguilders.\n AEGON said incidental negative influences on net profits\nwere slightly higher, being the lower dollar rate, high initial\ncosts for new products, and the cost of new headquarters in The\nHague.\n In 1986, a large number of new insurance products emerged\nin the Netherlands and the U.S., AEGON said. Large initial\ncosts for these products have depressed net profits somewhat.\n Monumental Corp, a U.S. Insurer which merged with AEGON in\nMay 1986, saw its profits almost completely eroded by these\ncosts and made only a small contribution to the group's\nprofits.\n AEGON said it has written-off 657 mln guilders in goodwill\nfor Monumental Corp.\n AEGON's net equity was 2.71 billion guilders in December\n1986, against 3.46 billion the year before.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:13:36.88",
"topics": [
"earn"
],
"places": [
"netherlands"
],
"id": "15451"
},
{
"title": "G-7 ISSUES STATEMENT AFTER MEETING",
"body": "Following is the text of a statement\nby the Group of Seven -- the U.S., Japan, West Germany, France,\nBritain, Italy and Canada -- issued after a Washington meeting\nyesterday.\n 1. The finance ministers and central bank governors of\nseven major industrial countries met today.\n They continued the process of multilateral surveillance of\ntheir economies pursuant to the arrangements for strengthened\neconomic policy coordination agreed at the 1986 Tokyo summit of\ntheir heads of state or government.\n The managing director of the International Monetary Fund\nalso participated in the meeting.\n 2. The ministers and governors reaffirmed the commitment to\nthe cooperative approach agreed at the recent Paris meeting,\nand noted the progress achieved in implementing the\nundertakings embodied in the Louvre Agreement.\n They agreed, however, that further actions will be\nessential to resist rising protectionist pressures, sustain\nglobal economic expansion, and reduce trade imbalances.\n In this connection they welcomed the proposals just\nannounced by the governing Liberal Democratic Party in Japan\nfor extraordinary and urgent measures to stimulate Japan's\neconomy through early implementation of a large supplementary\nbudget exceeding those of previous years, as well as\nunprecedented front-end loading of public works expenditures.\n The government of Japan reaffirmed its intention to further\nopen up its domestic markets to foreign goods and services.\n 3. The ministers and governors reaffirmed the view that\naround current levels their currencies are within ranges\nbroadly consistent with economic fundamentals and the basic\npolicy intentions outlined at the Louvre meeting.\n In that connection they welcomed the strong implementation\nof the Louvre Agreement.\n They concluded that present and prospective progress in\nimplementing the policy undertakings at the Louvre and in this\nstatement provided a basis for continuing close cooperation to\nfoster the stability of exchange rates.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:14:40.16",
"topics": [
"trade",
"money-fx"
],
"organisations": [
"imf"
],
"places": [
"usa",
"uk",
"west-germany",
"france",
"japan",
"canada",
"italy"
],
"id": "15452"
},
{
"title": "G-7 WANTS TO SHOW MARKETS ITS RESOLVE - MIYAZAWA",
"body": "Japanese Finance Minister Kiichi\nMiyazawa said the Group of Seven (G-7) countries reaffirmed\ntheir Paris accord on stabilising currencies to convince the\nmarket of their resolve.\n At a news conference after today's G-7 meeting, Miyazawa\nsaid the ministers and central bank governors did not believe a\ntotally new statement was needed.\n The speculative selling did not reflect economic\nfundamentals, and since the fundamentals had not changed only a\nreaffirmation of the goals of the Paris accord was needed, he\nsaid.\n He also noted that this test of the G-7 nations resolve had\nconcentrated on the yen, while other currencies, especially the\nmark, had remained stable.\n Miyazawa said any change in economic conditions since the\nParis accord was not worth being called fundamental.\n \"As I said at a time of Louvre (agreement), the expression\nof 'current level' is rather vague idea,\" he said.\n The yen's movement in the past several weeks is within the\nrange agreed in Paris in Febraury, he said.\n It was better to give a vague expression than pin-pointing\na level, which could have an adverse impact on the market,\nMiyazawa said.\n Asked why only Japan was committed to fresh measures in the\nstatement, he said Japan was exceptional among the seven\nbecause the yen appreciated against the dollar while other\nmajor currencies largely have been stable.\n He also said Japan's ruling Liberal Democratic Party has\njusted adoped a package to reflate the economy while other\nnations are not supposed to produce new measures in a short\nperiod since the Paris agreement.\n Miyazawa also said the U.S. sanctions against Japanese\nsemiconductor products was not discussed through the G-7\nmeeting and did not affect the currency talks.\n The seven nations discussed the debt problems of developing\ncountries and ways to proceed in line with the debt initiative\noutlined by U.S. Treasury Secretary James Baker 18 months ago.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:16:39.57",
"topics": [
"money-fx"
],
"places": [
"usa",
"japan"
],
"id": "15453"
},
{
"title": "YEN SEEN RISING AFTER G-7 COMMUNIQUE",
"body": "The yen is likely to start another\nuneven rise against the dollar and other major currencies\nbecause the Group of Seven communique contained nothing new,\ncurrency and bond analysts here said.\n \"Is that it? I was expecting something more than that,\" said\none trader at a major Wall Street securities company.\n Marc Cohen of Republic National Bank of New York said: \"The\nmarket now has the impetus to drive the dollar lower again.\"\n The dollar hovered between 145.50 and 147 yen in the days\njust before the talks. Dealers restrained their underlying\nbearishness and squared positions ahead of Wednesday's meeting\nof the finance ministers and central bankers of the top seven\nindustrialized nations in Washington.\n After more than four hours of talks, the G-7 issued a\ncommunique which merely reaffirmed the recent Paris agreement's\nview that prevailing currency levels were broadly consistent\nwith economic fundamentals and that exchange rate stability\nshould be fostered around these levels.\n The dollar sank to 144.75 yen in early Tokyo trading.\n \"They said that the dollar/yen rate was broadly in line with\nfundamentals when it was 154. Now they are saying it's in line\nwhen it's at 146. Will this still be so at 138 or 130?,\" asked\nRepublic's Cohen.\n Japanese Finance Minister Kiichi Miyazawa fuelled\nspeculation about the amount of fluctuation the authorities are\nprepared to tolerate by saying that the current yen level is\nstill inside the range agreed on in Paris in late February.\n Official statements in recent weeks had indicated that the\nkey psychological level of 150 yen was at the lower end of the\nauthorities' permissible range.\n Dealers and analysts warned that the dollar's decline would\nprobably be uneven. They anticipated a concerted effort to prop\nup the dollar and restrain the yen via a mixture of open market\nintervention and public comments.\n Shortly after the Tokyo market opened today the Bank of\nJapan was detected by local dealers buying moderate amounts of\ndollars. The dollar rebounded to about 145.20 yen.\n The sources said the market may also be wary of agressively\nselling dollars for yen before Tuesday's February U.S. Trade\ndata. The figures are expected to show a deficit of 13 billion\ndlrs, from a provisional 14.8 billion in January.\n\n\n\n\n\u0003",
"date": " 9-APR-1987 08:19:00.37",
"topics": [
"yen"
],
"places": [
"usa",
"japan"
],
"id": "15454"
},
{
"title": "JAPAN BUSINESS LEADERS SAY G-7 ACCORD IS WORRYING",
"body": "The leaders of two of Japan's top business\ngroups said in separate statements the Group of Seven (G-7)\naccord reached in Washington yesterday is of deep concern to\nJapan because it shows the major industrial nations regard the\nyen's current level as appropriate.\n Eishiro Saito, chairman of the Federation of Economic\nOrganizations (Keidanren), said the yen's present rate is well\nabove adequate levels. He did not elaborate.\n Takashi Ishihara, chairman of the Japan Committee for\nEconomic Development, said the accord will not prevent the yen\nfrom rising further.\n \"We do not understand why the G-7 approved present rates as\nthe yen has risen excessively since the Paris accord,\" Ishihara\nsaid.\n G-7 members Britain, Canada, France, Italy, Japan, the U.S.\nAnd West Germany said in a statement they consider their\ncurrencies are now within ranges broadly consistent with\neconomic fundamentals.\n Saito called on each G-7 member nation to prepare to\nintervene in the market strongly enough to ensure exchange\nrates are stabilised at appropriate levels.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:22:48.35",
"topics": [
"yen"
],
"places": [
"japan"
],
"id": "15455"
},
{
"title": "G-7 COMMITMENT TESTS JAPAN'S WILL TO BOOST ECONOMY",
"body": "The statement issued today by the Group of\nSeven (G-7) industrialised nations has put Japan under greater\ninternational pressure to stimulate its economy or face a\nfurther rise in the yen, private economists and analysts said.\n They said the communique reflected increased foreign\nfrustration with Japan's burgeoning trade surplus and its\ntight-fisted fiscal policies in the past.\n Unless Japan implements economic measures included in the\nstatement, foreign protectionist sentiment would grow and the\nyen would come under renewed upward pressure, they said.\n The G-7 -- grouping the U.S., Japan, West Germany, Britain,\nFrance, Italy and Canada -- said in the statement they welcomed\nproposals announced by Japan's ruling Liberal Democratic Party\n(LDP) for extraordinary and urgent measures to stimulate its\neconomy and that Japan reaffirmed its intention to further open\nits domestic markets.\n \"It's rather unusual that only Japan was mentioned in the\ncommunique and promised something,\" said Takeshi Saito, general\nmanager of Fuji Bank Ltd's research division. This showed how\nstrongly other nations want Japan to take concrete and\neffective steps to redress its trade surplus, he said.\n The statement referred to some details of Japan's proposed\neconomic measures, such as early implementation of a large\nsupplementary budget exceeding those of previous years and\nunprecedented front-end loading of public works expenditures.\n It did not mention any figure for the projected\nsupplementary budget but LDP officials have said it will amount\nto more than 5,000 billion yen for fiscal 1987, which compares\nwith 2,000 billion provided for the previous year.\n \"It signalled a clear shift away from the conservative\nfiscal policies of the past,\" said Kazuaki Harada, senior\nmanaging director of Sanwa Research Institute.\n For the last five years the government has stuck to a\ntight-fisted fiscal policy in its attempt to stop issuing\ndeficit financing bonds by 1990.\n But mounting foreign pressure for Japan to boost its\neconomy, hurt by the yen's extended rise, hurried the\ngovernment to hammer out a draft economic package and bring it\nto the latest G-7 meeting.\n Harada said Japan should not view expansion of its economy\nas the result of pressure but as an opportunity to lead world\neconomic growth.\n \"The Japanese economy has the potential to take a leadership\nrole and we should recognize it,\" Harada said.\n If Japan fails to meet such international expectations it\nwill invite some retaliatory moves, especially from the U.S.,\nWhich may result in a further rise of the yen, analysts said.\n The G-7 communique represented a test for Japan's\ncommitment to domestically-generated economic growth and to a\nmore balanced world trade structure, they said.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:24:43.99",
"places": [
"japan"
],
"id": "15456"
},
{
"title": "UNIFIRST CORP <UNF> SETS QUARTERLY",
"body": "Qtly div five cts vs five cts prior\n Pay July One\n Record June 17\n Reuter\n\u0003",
"date": " 9-APR-1987 08:26:30.02",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15457"
},
{
"title": "ARUS <ARSCC> GETS 5.2 MLN DLR ORDER",
"body": "Arus Corp said it has received a\nletter of intent from Winston Financial Corp for the purchase\nof over 5,200,000 dlrs in telephone diagnostic testing\nequipment.\n It said it expects to negotiate a firm order in May.\n The company said the total value of the order is at least\n5,200,000 dlrs and could be more, depending on circuit\nconfigurations required.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:26:38.46",
"places": [
"usa"
],
"id": "15458"
},
{
"title": "<TRUMP PLAZA> 4TH QTR NET",
"body": "Net profit 2,529,000 vs loss 1,066,000\n Revs 59.0 mln vs 52.6 mln\n Year\n Net profit 15.4 mln vs profit 865,000\n Revs 247.0 mln vs 231.1 mln\n NOTE: Company became wholly owned and operated by Donald\nTrump in May 1986, when he acquired 50 pct interest that had\nbeen owned by former operator Holiday Corp <HIA>.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:26:46.70",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15459"
},
{
"title": "EUROPEAN MARKETS REACT QUIETLY TO G-7 COMMUNIQUE",
"body": "European currency markets reacted quietly\nto the G-7 communique, with comments from bankers and dealers\nranging from disappointment that it was not more concrete to\nsurprise that the markets should have expected so much.\n The dollar opened lower against virtually all currencies\nand traded in a narrow range after the communique, which\nreaffirmed support for the Paris accord on currency\nstabilisation but contained no moves to strengthen it.\n Dealers in Frankfurt and Zurich saw the dollar remaining\nbroadly entrenched in its current trading range.\n \"The dollar is likely to stay within a range of 1.80 to 1.84\nmarks,\" said Gisela Steinhaeuser, senior dealer at Chase Bank\nAG. She said there was some resistance to further climbs.\n However, she said the dollar could break out of the range\nwith major surprises such as a worse-than-expected U.S.\nMerchandise trade deficit, due next Tuesday.\n Theodor Stadelmann, dealer with Bank Julius Baer and Co Ltd\nin Zurich, said he expects the dollar to hold steady against\nthe mark and Swiss franc but to weaken further against the yen,\npossibly to 140 yen.\n A Milan banker shared Stadelmann's view, saying he expects\na dollar-yen range of 140-150 in the short term.\n London traders said the G-7 communique failed to curb\nunderlying bearishness toward the dollar but this negative\nsentiment was not yet strong enough to tempt interbank\noperators to test the downside.\n Concern that finance ministers and officials still in\nWashington could issue more concrete statements in favour of\ncurrency stabilisation kept players sidelined, along with\nworries about provoking fresh central bank intervention in the\nlong term, the traders said.\n Most Paris dealers expressed disappointment at the\ncommunique, saying nothing has changed to reverse the dollar's\ndownward trend.\n Traders in several centres said the market would look for\nfresh opportunities to test the willingness of central banks to\ndefend current ranges, which the communique said were \"broadly\nconsistent with economic fundamentals and the basic policy\nintentions outlined at the Louvre meeting.\"\n Dave Jouhin, senior dealer at Midland Bank in London, said\n\"They're going to put somebody's resolve to the test soon.\" The\nU.S. February trade data may provide the trigger, dealers said.\n However, some dealers said London-based operators would be\nunlikely to open major positions next week ahead of the long\nEaster weekend. They saw near-term technical support at 1.825\nmarks and 145 yen and resistance about 1.83 marks and 146 yen.\n Chase Bank's Steinhaeuser and other Frankfurt dealers said\nthe G-7 communique guaranteed a relatively calm and stable\nmarket for the foreseeable future compared with the extreme\nvolatility seen in the first few months of this year.\n One dealer at a German bank said the wording of the\ncommunique made clear the leading nations did not want a\nfurther dollar drop, and this was supporting the dollar.\n The German dealer saw the dollar gradually appreciating to\n1.87 marks, broadly seen as its upper limit within the Louvre\naccord's supposed currency target range.\n A Swiss bank economist said he believed the markets were\nready for a period of \"mainly sideways movement.\"\n But Milan dealers were sceptical about the communique\ncontributing to greater stability.\n \"Nothing has changed substantially to give the dollar a big\nboost,\" said one dealer, while another Italian banker said he\nexpects the dollar to trade between 1.77 and 1.87 German marks\nin the next three months.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:26:57.49",
"topics": [
"dlr",
"money-fx"
],
"places": [
"switzerland"
],
"id": "15460"
},
{
"title": "WESTRONIX <WSTX> COMPLETES STOCK SALE",
"body": "Westronix Inc said it has\ncompleted the private sale of 2,500,000 common shares at 2.30\ndlrs each.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:27:21.33",
"places": [
"usa"
],
"id": "15461"
},
{
"title": "WEST GERMAN BEET PLANTINGS DELAYED THREE WEEKS",
"body": "Unseasonal cold weather has delayed\nsugar beet plantings in West Germany by up to three weeks, the\nagriculture ministry said.\n A ministry spokesman said in some central areas, especially\nin the Rhineland, farmers have taken advantage of warmer\nweather and started plantings in the past two days.\n West German planting intentions this year are put at\n381,000 hectares, down from 390,500 ha last year, he said,\nadding that the 1980/1985 average was 405,000 ha.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:27:30.72",
"topics": [
"sugar"
],
"places": [
"west-germany"
],
"id": "15462"
},
{
"title": "SOUTHWEST REALTY <SWL> IN RIGHTS OFFERING",
"body": "Southwest Realty Ltd said it has filed\nfor a rights offering.\n It said for each three shares owned, a shareholder will\nreceive a transferable right to purchase one additional share\nat 2.50 dlrs.\n The company said the offering is expected to be made on\nJune 15.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:27:36.08",
"places": [
"usa"
],
"id": "15463"
},
{
"title": "STEP-SAVER <CODA> SAYS WARRANT EXERCISED",
"body": "Step-Saver Data Systems Inc\nsaid Bergen-Richards Corp has exercised a warrant to buy\n450,000 Step-Saver shares at two dlrs each.\n It said warrants issued to the underwriter in its initial\npublic offering were exercised in March for an aggregate of\n169,200 dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:27:43.07",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15464"
},
{
"title": "GALAXY OIL <GOX> BEING DELISTED BY AMEX",
"body": "Galaxy Oil Co said its\ncommon stock and nine pct convertible subordinated debentures\ndue 1994 are being delisted from the <American Stock Exchange>\nbecause the company no longer meets listing criteria.\n Galaxy filed Chapter 11 bankruptcy on April Six.\n The company said trading in both issues will be suspended\nby the Amex at the close on May One but is expected to start\nelsewhere on May Four.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:27:51.00",
"places": [
"usa"
],
"id": "15465"
},
{
"title": "TRANSCAPITAL <TFC> UNIT CLOSING 12 OFFICES",
"body": "TransCapital Financial Corp's\nTRANSOHIO Savings Bank subsidiary said it plans to close 11\noffices in the Cleveland area and one in Columbus, Ohio,\nreducing its total number of offices to 81 statewide.\n The company said accounts will be moved into other\nTRANSOHIO offices. Four closings are set for May 23 and four\nfor June 20 and the rest are tentatively set for September 19.\n It said it is closing branches were overlaps exist\nfollowing its August 1986 acquisitions of Citizens Federal\nSavings and Loan Association of Cleveland and Dollar Savings\nBank of Columbus or where efficiencies could be improved.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:27:59.63",
"places": [
"usa"
],
"id": "15466"
},
{
"title": "COAST SAVINGS <CSA> IN TALKS ON BUYING BANK",
"body": "Coast Savings and Loan Association\nsaid it is in talks with the Federal Savings and Loan Insurance\nCorp on the acquisition of Central Savings and Loan Association\nof San Diego.\n Central, which operates 46 branches, has been under\nmanagement guidance of the FSLIC since May 1985.\n Coast said the acquisition would give it an entry into the\nSan Joaquin Valley market besides strengthening its presence in\nthe San Diego, Los Angeles and Orange Counties areas.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:28:52.32",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15467"
},
{
"title": "BRAMALL TO ACQUIRE GELCO FOR UP TO 26.3 MLN DLRS",
"body": "<C.D. Bramall Plc> said in a statement\naccompanying its annual results that it proposed to acquire\nGelco U.K. For some 26.3 mln dlrs.\n Part of the cost will be met by the issue of 2.14 mln new\nordinary Bramall shares which are being placed at 265p each.\n The acquisition will be satisfied by an initial payment of\nsome 25.3 mln dlrs in cash with further payments of 500,000\ndlrs up to a maximum 26.3 mln dlrs. These further payments will\nonly be made if profits achieved by Gelco for the year ending\nJuly 31, 1987 reach a certain level.\n Bramall shares were trading 6p lower at 278p.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:29:14.57",
"topics": [
"acq"
],
"places": [
"uk"
],
"id": "15468"
},
{
"title": "<SAPC INC> SUES LOTUS <LOTS> OVER COPYRIGHT",
"body": "Privately-held software\ndeveloper SAPC Inc said it has filed suit in U.S. District\nCourt in Boston against Lotus Development Corp, alleging the\ninfringement of a copyright and the misappropriation of trade\nsecrets and is seeking 100 mln dlrs in damages.\n The firm's suit alleges that Lotus' spreadsheet program\n1-2-3 violates the copyright of VisiCalc, which was developed\nby SAPC several years ago, before 1-2-3 was introduced, when\nthe firm was known as Software Arts Inc. Software Arts sold\nrights to VisiCalc to Lotus in 1985 and changed its name.\n The suit also alleges that Lotus founder Mitchell D. Kapor,\nwho resigned as chairman in July 1986, breached a\nconfidentiality agreement with SAPC. Kapor, also named as a\ndefendant, had worked for a firm that had marketing rights to\nVisiCalc before founding Lotus.\n The suit alleges that Lotus and Kapor deliberately sought\nto make 1-2-3 look and feel like VisiCalc by copying a number\nof commands, keystrokes and screen displays.\n Lotus, in response, said it feels the suit is without merit.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:29:23.72",
"places": [
"usa"
],
"id": "15469"
},
{
"title": "U.S. SAID TO VIEW G-7 MEETING AS MAJOR SUCCESS",
"body": "The United States, which has long\nsought Japanese action to stimulate its economy, appears to be\nsatisfied Tokyo's latest package is a major development and\nallows leading industrial nations to reaffirm their agreement\nto stabilize currencies.\n Monetary sources said they believed that U.S. Treasury\nSecretary James Baker considered Tokyo's package, announced\nyesterday, to be a major stimulation of the Japanese economy.\n But yesterday's statement by seven leading industrial\npowers endorses the yen's rise from around 153 to the dollar,\nthe level at the February 22 Paris Accord, to about 145 today.\n The supplementary budget worth about 34.48 billion dlrs was\nannounced by the ruling Liberal Democratic Party on the eve of\nMiyazawa's departure for Washington, to attend yesterday's\nmeetings of leading industrial nations.\n In a strongly worded statement terming the Japanese action\n\"extraordinary and urgent\", the meeting reaffirmed the Paris\nAccord by noting that current exchange rates are within ranges\nbroadly consistent with fundamentals, or economic reality.\n The Group of Seven -- the United States, Japan, West\nGermany, France, Britain, Italy and Canada -- therefore\nrepeated their willingness to continue close cooperation to\nfoster exchange rate stability.\n The cooperation agreement has resulted in concerted central\nbank intervention of 8 billion to 9 billion dlrs to halt the\ndollar's fall. While relatively unsuccessful, the scale of\nintervention between so many nations is unprecedented in recent\nyears.\n Monetary sources also said they understood that Secretary\nBaker considered the meeting to be extremely successful in the\nlight of the Japanese announcement.\n They also said there was a growing feeling among the\nfinance ministers and central bankers that cooperation over\nmedium-term policies has replaced the bickering over short-term\ndifferences in past meetings.\n West Germany, whose currency has not risen anything like\nthe yen since the Paris Agreement, appears from the face of\nyesterday's statement to have won acceptance from other\ncountries that its exchange rate is acceptable.\n Bonn's finance minister Gerhard Stoltenberg argues that\nmajor currency shifts needed to remedy the huge imbalance\nbetween West Germany and Japan's trade surpluses and America's\ntrade deficit have already taken place.\n No mention was made, however, of the U.S. commitment to cut\nthe budget deficit even though it is implied in the\nreafffirmation of Paris.\n European nations and Japan believe deficit cuts are\nessential to curbing the record U.S. trade shortfall that\nreached nearly 170 billion dlrs last year.\n A similar argument was made on Capitol Hill earlier this\nweek by Federal Reserve Board chairman Paul Volcker. A further\nsharp fall to redress trade imbalances would \"clearly pose\nsubstantial risks of renewed inflationary momentum and could\nundermine confidence in future financial stability,\" he said.\n Volcker warned a further dollar fall might force the\npolitically independent Fed to drive up interest rates.\n Monetary sources said that, privately, West Germany\nwelcomed the rise in the yen against the dollar while its own\ncurrency remained relatively stable against the U.S. unit.\n Bonn and other European nations worry that once the weak\ndollar blunts Tokyo's export drive to the United States, the\nJapanese monolith will concentrate on European markets.\n The ministers, meanwhile, also continued talks on making\ntheir policy coordination more binding and one, Canadian\nFinance Minister Michael Wilson, said good progress was made.\n Wilson said they will meet before the June Economic Summit\nto prepare a report for the leaders of the seven nations.\n The United States and France, backed by the International\nMonetary Fund, want the seven to agree on ranges or \"norms\" for a\nlimited number of economic objectives such as growth,\ninflation, monetary conditions, trade balances and current\naccount balances.\n Sharp deviations from these guidelines would result in\nconsultations between the countries on whether corrective\naction should be required.\n But the inclusion of currencies as one of the objectives\nhas Bonn and London worried, monetary sources say, because it\nimplies Washington is moving in the direction of target zones.\n The sources said the Reagan administration unsuccessfully\nsounded out its allies on a system of target zones to limit\ncurrency fluctuations just before the February meeting.\n The concept is a much more rigid one than the secret ranges\nof the Paris Accord and would mark a sharp departure from the\nrelatively free currency markets of recent years.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:33:49.59",
"places": [
"usa",
"uk",
"france",
"west-germany",
"italy",
"canada",
"japan"
],
"id": "15470"
},
{
"title": "BELGIUM LAUNCHES BONDS WITH GOLD WARRANTS",
"body": "The Kingdom of Belgium is launching 100\nmln Swiss francs of seven year notes with warrants attached to\nbuy gold, lead mananger Credit Suisse said.\n The notes themselves have a 3-3/8 pct coupon and are priced\nat par. Payment is due April 30, 1987 and final maturity April\n30, 1994.\n Each 50,000 franc note carries 15 warrants. Two warrants\nare required to allow the holder to buy 100 grammes of gold at\na price of 2,450 francs, during the entire life of the bond.\n The latest gold price in Zurich was 2,045/2,070 francs per\n100 grammes.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:37:11.99",
"topics": [
"gold"
],
"places": [
"switzerland",
"belgium"
],
"id": "15471"
},
{
"title": "FAO SEES LOWER GLOBAL WHEAT, GRAIN OUTPUT IN 1987",
"body": "The U.N. Food and Agriculture Organisation\n(FAO) said global wheat and coarse grain output was likely to\nfall in 1987 but supplies would remain adequate to meet demand.\n FAO said in its monthly food outlook bulletin total world\ngrain output was expected to fall 38 mln tonnes to 1,353 mln in\n1987, due mainly to unusually high winter losses in the Soviet\nUnion, drought in China and reduced plantings in North America.\n World cereal stocks at the end of 1986/87 were forecast to\nrise 47 mln tonnes to a record 452 mln tonnes, softening the\nimpact of reduced production. But stocks are unevenly\ndistributed, with about 50 pct held by the U.S.\n \"Thus the food security prospects in 1987/88 for many\ndeveloping countries, particularly in Africa, depend crucially\non the outcome of this year's harvests,\" FAO said.\n FAO said world cereal supplies in 1986/87 were estimated at\na record 2,113 mln tonnes, about five pct higher than last\nseason and due mainly to large stocks and a record 1986\nharvest, estimated at 1,865 mln tonnes.\n FAO's forecast of 1986/87 world cereals trade was revised\nupwards by eight mln tonnes to 179 mln due to the likelihood of\nsubstantial buying by China and the Soviet Union.\n REUTER\n\u0003",
"date": " 9-APR-1987 08:39:11.06",
"topics": [
"wheat",
"grain"
],
"organisations": [
"fao"
],
"places": [
"italy",
"china",
"ussr"
],
"id": "15472"
},
{
"title": "CATER HAWLEY HALE <CHH> MARCH SALES UP 7.8 PCT",
"body": "Carter Hawley Hale Stores Inc said\nsales for the five weeks ended April Four were up 7.8 pct to\n314.0 mln dlrs from 291.3 mln dlrs a year earlier, with\nsame-store sales up 5.5 pct.\n The company said sales for the first two months of its\nfiscal year were up 7.7 pct to 554.7 mln dlrs from 515.1 mln\ndlrs a year earlier, with same-store sales up 5.6 pct.\n Carter Hawley said sales were helped by shifting some\npromotions to March from April to compensate for the later\nEaster this year.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:40:12.68",
"places": [
"usa"
],
"id": "15473"
},
{
"title": "INDEPENDENT AIR <IAIR> EXTENDS WARRANTS",
"body": "Independent Air Inc said its board\nhas extended the expiration of its Class A warrants to June 30\nfrom April 11 and left the exercise price unchanged at 18 cts\nper common share.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:40:40.31",
"places": [
"usa"
],
"id": "15474"
},
{
"title": "XICOR <XICO> SEES END OF INTEL <INTC> PROGRAM",
"body": "Xicor Inc said based on recent\ntalks with Intel Corp, it expects its joint research program\nwith Intel on the development of advanced memory devices to be\nending shortly.\n The company said it will reallocate personnel presently\nassigned to the program to its one megabit CMOS E2 PROM program\nand other development programs.\n Reasons for the end of the Intel venture were not given.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:40:53.37",
"places": [
"usa"
],
"id": "15475"
},
{
"title": "CB AND T BANCSHARES INC <CBTB> 1ST QTR NET",
"body": "Shr 27 cts vs 24 cts\n Net 5,223,000 vs 4,682,000\n Avg shrs 19.7 mln vs 19.4 mln\n NOTE: Results reflected pooled acquisition of First\nCommunity Bancshares Inc on March 31, 1987 and include Camden\nBancorp from January 31, 1987 purchase.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:41:00.63",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15476"
},
{
"title": "XICOR INC <XICO> 1ST QTR MARCH 22 NET",
"body": "Shr profit five cts vs loss 16 cts\n Net profit 689,000 vs loss 1,910,000\n Revs 12.3 mln vs 9,432,000\n NOTE: 1987 net includes 276,000 dlr tax credit.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:41:05.32",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15477"
},
{
"title": "GEORGE WIMPEY SAYS BENEFITS OF RESTRUCTURING SEEN",
"body": "George Wimpey Plc <WMPY.L> said the\noutlook for 1987 looked encouraging as the company realised the\ncontinuing benefits of restructuring.\n It said its overall financial position showed further\nimprovement in 1986 and the reshaping of its U.K. Business into\nclearly defined and activity related divisions had been\nsuccessfully achieved.\n Wimpey was commenting in a statement on its 1986 results\nwhich showed pretax profits up 42 pct to 66.5 mln stg.\n The group had a good overall year in North America, the\ncompany said in a statement.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:42:37.20",
"topics": [
"earn"
],
"places": [
"uk"
],
"id": "15478"
},
{
"title": "C.O.M.B. <CMCO> MAKES ACQUISITION",
"body": "C.O.M.B. Co said it has acquired\nthe principal assets of National Tech Industries Inc and Telkom\nCorp, which are engaged in the sale and telemarketing of\nconsumer electronic merchandise and do business as House of\nImports and N.L. Industries respectively.\n The company said it paid a total of 8,700,000 dlrs,\nincluding the assumption of liabilities.\n National Tech had sales of about 23 mln dlrs for 1986, it\nsaid.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:43:30.98",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15479"
},
{
"title": "EC SHELVES LEGAL ACTION AGAINST THREE AIRLINES",
"body": "The European Community Commission said\ntoday it has shelved threatened legal action against West\nGermany's Lufthansa <LHAG.F>, Alitalia of Italy <AERI.MI> and\nOlympic Airways of Greece after they agreed to change practices\nthat restrict competition in the heavily-protected EC sector.\n The Commission had also written to seven other Community\nairlines, including British Airways <BAB.L> and Air France,\nlast summer warning them that agreements such as capacity and\nrevenue sharing accords broke EC competition rules. The seven\nhave already agreed to hold talks with the Commission on\nbringing such practices into line with the rules.\n In a statement, the EC's executive authority also spelled\nout tough demands it will be putting to carriers in talks on\nliberalising EC air transport and bringing down airfares,\nwarning that new legal moves were possible if they refused to\ncomply.\n As a first step, the Commission wanted the 10 carriers to\neliminate the most serious distortions of competition caused by\nthe current practices and agreements.\n The latest demands go further towards liberalisation than\nproposals that are currently the subject of difficult\nnegotiations between by EC Transport Ministers. REUTER\n\u0003",
"date": " 9-APR-1987 08:46:51.55",
"organisations": [
"ec"
],
"places": [
"belgium"
],
"id": "15480"
},
{
"title": "BELGIUM LAUNCHES BONDS WITH GOLD WARRANTS",
"body": "The Kingdom of Belgium is launching 100\nmln Swiss francs of seven year notes with warrants attached to\nbuy gold, lead manager Credit Suisse said.\n The notes themselves have a 3-3/8 pct coupon and are priced\nat par. Payment is due April 30, 1987, and final maturity April\n30, 1994.\n Each 50,000 franc note carries 15 warrants. Two warrants\nare required to allow the holder to buy 100 grammes of gold at\na price of 2,450 francs, during the entire life of the bond.\n The latest gold price in Zurich was 2,045/2,070 francs per\n100 grammes.\n Reuter\n\u0003",
"date": " 9-APR-1987 08:51:09.49",
"topics": [
"gold"
],
"places": [
"switzerland",
"belgium"
],
"id": "15481"
},
{
"title": "DATATRAK INC <DTRK> 3RD QTR FEB 28 NET",
"body": "Shr profit nil vs profit nil\n Net profit 27,622 vs profit 5,556\n Sales 1,031,306 vs 840,906\n Nine mths\n Shr loss one ct vs loss two cts\n Net loss 195,095 vs loss 445,379\n Sales 2,702,085 vs 2,219,961\n Reuter\n\u0003",
"date": " 9-APR-1987 08:51:14.35",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15482"
},
{
"title": "MIYAZAWA SAYS YEN STILL INSIDE PARIS RANGE",
"body": "Japanese Finance Minister Kiichi\nMiyazawa said the strengthening of the yen against the dollar\nsince the Paris Agreement was within the range agreed in the\nLouvre discussions.\n \"I would say that what has happened (to the yen) in the past\nseveral weeks was not outside the range we agreed to in the\ndiscussions in Paris,\" Miyazawa told a press conference\nfollowing the Group of Seven meeting here.\n He said the current discussions were a \"reaffirmation\" of\nthat agreement, saying the \"solidarity\" that occurred in Paris\nwas still in place.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:00:01.33",
"topics": [
"yen"
],
"places": [
"usa",
"japan"
],
"id": "15483"
},
{
"title": "TODD SHIPYARDS <TOD> STRUCK ON WEST COAST",
"body": "Todd Shipyards Corp said\nproduction workers represented by the multi-union Pacific Coast\nMetal Trades District Council at its San Francisco division\nstruck on April Six.\n It said negotiations are expected to resume at the end of\nthis month.\n Todd also said the collective bargaining division in effect\nat its Galveston Division expires April 17, and negotiations\nwith the Galveston Metal Trades Council are continuing.\n The company said results of balloting on a new collective\nbargaining agreement proposal in its Seattle Division are\nexpected to be tabulated at the close of business tomorrow.\n The Pacific Coast Council has recommended acceptance of\nthat proposal by membership, Todd said.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 09:00:40.27",
"topics": [
"ship"
],
"places": [
"usa"
],
"id": "15484"
},
{
"title": "U.S. FIRST TIME JOBLESS CLAIMS FELL IN WEEK",
"body": "New applications for unemployment\ninsurance benefits fell to a seasonally adjusted 338,000 in the\nweek ended March 28 from 355,000 in the prior week, the Labor\nDepartment said.\n The number of people actually receiving benefits under\nregular state programs totaled 2,436,000 in the week ended\nMarch 21, the latest period for which that figure was\navailable.\n That was down from 2,480,000 the previous week.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 09:01:41.95",
"topics": [
"jobs"
],
"places": [
"usa"
],
"id": "15485"
},
{
"title": "G-7 WANTS TO SHOW MARKETS ITS RESOLVE - MIYAZAWA",
"body": "Japanese Finance Minister Kiichi\nMiyazawa said the Group of Seven (G-7) countries reaffirmed\ntheir Paris accord on stabilising currencies to convince the\nmarket of their resolve.\n At a news conference after yesterday's G-7 meeting,\nMiyazawa said the ministers and central bank governors did not\nbelieve a totally new statement was needed. The speculative\nselling did not reflect economic fundamentals, and since the\nfundamentals had not changed only a reaffirmation of the goals\nof the Paris accord was needed, he said.\n He said this test of the G-7 nations' resolve had\nconcentrated on the yen, while other currencies, especially the\nmark, had remained stable.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:04:13.41",
"places": [
"usa",
"japan"
],
"id": "15486"
},
{
"title": "CLEVITE INDUSTRIES SAYS J.P. INDUSTRIES OFFERED 13.50\nDLRS A SHARE TO BUY COMPANY\n",
"date": " 9-APR-1987 09:04:41.23",
"topics": [
"acq"
],
"id": "15487"
},
{
"title": "INDIAN STATE COMPANY BONDS PROVOKE COMPLAINTS",
"body": "India's private businessmen say they\nhave been placed on an unequal footing in raising money from\nthe capital market because government companies are wooing\ninvestors by issuing more attractive tax-free bonds.\n Stock brokers and bankers polled by Reuters said although\nequity shares or debenture issues floated by private firms\nprovide a higher return and shorter maturity, they are fast\nlosing their popular appeal as they are liable to both wealth\nand income taxes.\n Brokers said many investors are transferring funds into\ngovernment company bonds because of their tax-free status and\neasy transferability.\n About 100 private companies have postponed plans to issue\nequity shares and debentures in the first quarter of fiscal\n1987/88 partly on account of fierce competition from public\nsector bonds, a merchant banker said.\n They included equity shares and rights issue worth one\nbillion rupees planned to be issued this month by Tata\nFertilisers Ltd, he said, adding the issue has been postponed\nindefinitely.\n \"The government bonds are making serious inroads on the\nprivate sector companies' resources,\" said R. P. Goenka,\npresident of the Federation of Indian Chambers of Commerce and\nIndustry.\n \"The discriminatory tax treatment should be done away with\nand equal facilities be provided to the two sectors to mobilise\nresources from the market which is common to both,\" Goenka said.\n A senior Finance Ministry official said government and\nprivate firms were free to compete to raise resources, adding\nit was not correct that public sector-issued bonds were\npreventing private firms from raising money on the stock\nmarket.\n \"Debentures and equity shares floated by private companies\nstill account for at least 60 pct of total capital raised in\nstock exchanges,\" the ministry official said.\n A spokesman at Bombay stock brokers Batliwala and Karani\nsaid government bonds were valued at about 20 billion rupees or\nabout 40 pct of 50 billion rupees raised by both government and\nnon-government firms in the domestic capital market in 1986/87.\n The share was 35 to 40 pct of about 36.95 billion rupees\nmobilised in 1985/86, he said. \"To save taxes, commercial banks,\nmainly foreign banks, and some private companies, are investing\ntheir surplus funds in the tax free bonds,\" he said.\n \"Individuals who are very well off are also investing in the\nbonds to gain tax benefits while only small investors are going\nfor equities or debentures floated by private companies on a\nselective basis,\" the spokesman said.\n The maturity period of government company bonds varies\nbetween seven and 10 years. No wealth or income taxes are\npayable on nine pct seven-year bonds but those carrying 13 pct\ninterest on 10-year bonds are subjected to income tax if interest amount^M\nexceeds 7,000 rupees a year.\n Equity shares, the 14 pct non-convertible debentures and\n12.5 to 14 pct convertible debentures issued by private\ncompanies are not exempted from either the wealth tax or from\nthe tax on income earned from them.\n The government bonds are listed as securities but traded on\nIndia's four major stock exchanges. They can be sold freely on\nthe stock market by simple endorsement while debentures can\nonly be sold to the company after one year, brokers said.\n Government companies are trying to capitalise on a boom in\nthe stock market since 1984/85 sparked by liberal tax\nconcessions and reforms in exchange operations, brokers said.\n The National Thermal Power Corp, NTPC, was the first\ngovernment company to issue the bonds to raise one billion\nrupees in January last year, breaking the monopoly of private\ncompanies on the capital market. The seven-year NTPC bond was\noversubscribed three times, brokers said.\n Official figures show bonds floated by government companies\nhave been heavily oversubscribed. More state companies have\nsought the Ministry's permission to issue them in coming\nmonths.\n NTPC's second bond issue at the end of 1986 raised 4.51\nbillion rupees against 1.2 billion originally permitted by the\nFinance Ministry.\n The Mahanagar Telephone Nigam mobilised 3.83 billion rupees\nlast year against authorised 1.5 billion and last month the\nIndian Railway Finance Corporation's record susbcription\ntotalled 5.5 billion rupees against authorised 2.5 billion.\n In most cases, the government has allowed the companies to\nmaintain the oversubscribed amount, brokers said.\n Goenka said that government bonds are making it\nincreasingly difficult for private companies to launch new\nequity or debenture issues. He said the government could at\nleast \"fix a suitable limit on the funds to be raised through\nsuch bonds by the public sector.\"\n Merchant bankers said the government is pressing state\ncompanies to borrow from the public by reducing financial\nsupport to them.\n To ease its internal debt burden, the government has\nreduced the budgetary support to development investment in\nabout 120 public sector companies to 69.92 billion rupees in\n1987/88 from 77.92 billion a year earlier, official figures\nshow.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:07:36.45",
"places": [
"india"
],
"id": "15488"
},
{
"title": "SUNTRUST BANKS INC <STI> 1ST QTR NET",
"body": "Shr 54 cts vs 49 cts\n Net 70.2 mln vs 64.0 mln\n NOTE: Share adjusted for two-for-one split in July 1986.\n Results restated for pooled acquisition of Third NAtional\nCorp in December 1986.\n Net chargeoffs 15.0 mln dlrs vs 14.2 mln dlrs.\n Assets 25.8 billion dlrs, up 7.2 pct from a year earlier,\ndeposits 21.1 billion, up 9.4 pct, and loans 17.1 billion dlrs,\nup 17.2 pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:10:51.76",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15489"
},
{
"title": "SUNTRUST <STI> PUTS LOANS ON NONACCRUAL",
"body": "SunTrust Banks Inc said in the first\nquarter it placed about 20.2 mln dlrs of loans to Brazil and\n21.6 mln dlrs of loans to Ecuador on nonaccrual status.\n The company made the disclosure in reporting that first\nquarter earnings rose to 70.2 mln dlrs from 64.0 mln dlrs a\nyear earlier.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:10:56.74",
"places": [
"usa"
],
"id": "15490"
},
{
"title": "ROPAK <ROPK> FORMS JAPANESE UNIT",
"body": "Ropak corp said it has formed\na new Tokyo-based subsidiary called Ropak Nippon Ltd to market\nits North American products in Japan.\n It said the new unit has started importing plastic pans and\nother products for the packaging of seafood and will also\nmarket rigid-plastic shipping pails for a variety of packaging\nuses.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:11:03.45",
"places": [
"usa",
"japan"
],
"id": "15491"
},
{
"title": "BURLINGTON INDUSTRIES <BUR> SELLS CONVERTIBLES",
"body": "Burlington Industries Inc is raising 75\nmln dlrs through an offering of convertible subordinated\ndebentures due 2012 with a 6-1/4 pct coupon and par pricing,\nsaid lead manager Kidder, Peabody and Co Inc.\n The debentures are convertible into the company's common\nstock at 63.50 dlrs per share, representing a premium of 18.1\npct over the stock price when terms on the debt were set.\n Non-callable for three years, the issue is rated Ba-2 by\nMoody's Investors Service Inc and BBB by Standard and Poor's\nCorp. Merrill Lynch Capital Markets and Salomon Brothers Inc\nco-managed the deal.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:11:13.48",
"places": [
"usa"
],
"id": "15492"
},
{
"title": "PSE TO START OPTION TRADE ON BAKER HUGHES <BHI>",
"body": "The Pacific Stock Exchange said it\nwill start options trading on Baker Hughes Inc today.\n Expirations will be January, May, July and October.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:11:22.89",
"places": [
"usa"
],
"id": "15493"
},
{
"title": "INTERNATIONAL THOMSON TO REPORT IN U.S. FUNDS",
"body": "<International Thomson Organisation Ltd>\nsaid it will report financial results in U.S. funds rather than\nsterling, beginning from Jan 1, 1987.\n It said the change will not be applied retroactively to\nprior financial periods.\n The company said as a result of recent investments, most of\nits assets now are located in the United States.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 09:11:38.99",
"topics": [
"earn"
],
"places": [
"usa",
"canada"
],
"id": "15494"
},
{
"title": "PHILIP CROSBY ASSOCIATES INC <PCRO> 4TH QTR NET",
"body": "Shr three cts vs 18 cts\n Net 220,000 vs 1,250,000\n Revs 11.8 mln vs 9,430,000\n Year\n Shr 45 cts vs 69 cts\n Net 3,400,000 vs 4,037,274\n Revs 45.1 mln vs 34.3 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 09:11:45.51",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15495"
},
{
"title": "COLONIAL AMERICAN BANKSHARES CORP <CABK> 1ST QTR",
"body": "Shr 52 cts vs 40 cts\n Qtly div 18 cts vs 15 cts prior\n Net 793,740 vs 603,661\n NOTE: Share adjusted for 10 pct stock dividend in November\n1986.\n Dividend pay May One, record April 25.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:11:52.34",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15496"
},
{
"title": "BIOSYSTEMS RESEARCH TESTS TECHNOLOGY FOR AIDS",
"body": "<Biosystems Research Inc> said\nits new technique for a treatment for Acquired Immune\nDeficiency Syndrome showed good results on subjects who were\ntreated.\n Called biostimulation, the non-drug approach to the\ntreatment of those with AIDS and AIDS related complex involves\nexposure to low-level magnetic and electrical stimulation in\ncombination with phototherapy from the visible light spectrum,\nthe company said.\n \n Biosystems said it tested its technique in two studies with\neight subjects since January 1986, for periods of five to 60\nweeks. It said the treatments have not produced any adverse\neffects in the subjects.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:13:08.19",
"places": [
"usa"
],
"id": "15497"
},
{
"title": "CHICAGO PACIFIC <CPAC> SELLS CONVERTIBLE DEBT",
"body": "Chicago Pacific Corp is raising 150 mln\ndlrs through an offering of convertible subordinated debentures\ndue 2012 with a 6-1/2 pct coupon and par pricing, said lead\nmanager Goldman, Sachs and Co.\n The debentures are convertible into the company's common\nstock at 62.50 dlrs per share, representing a premium of 25.63\npct over the stock price when terms on the debt were set.\n Non-callable for two years, the issue is rated B-1 by\nMoody's Investors Service Inc and B by Standard and Poor's\nCorp. First Boston Corp and Lazard Freres and Co co-managed the\ndeal.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:13:39.27",
"places": [
"usa"
],
"id": "15498"
},
{
"title": "DURAKON <DRKN> PRODUCT SOLD BY CANADIAN TIRE",
"body": "Durakon Industries Inc said\nCanadian Tire Corp, the large Canadian auto retailer, has\nselected Durakon's All Star Liner as its exclusive pickup truck\nbed liner, to be sold in the 400 Associate Stores across Canada.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:14:25.73",
"places": [
"usa"
],
"id": "15499"
},
{
"title": "RPT - ARGENTINE GRAIN/OILSEED EXPORT PRICES ADJUSTED",
"body": "The Argentine Grain Board adjusted\nminimum export prices of grain and oilseed products in dlrs per\ntonne FOB, previous in brackets, as follows:\n Sorghum 64 (63), sunflowerseed cake and expellers 103 (102)\n, pellets 101 (100), meal 99 (98), linseed oil 274 (264),\ngroundnutseed oil 450 (445), soybean oil 300 (290), rapeseed\noil 290 (280).\n Sunflowerseed oil for shipment through May 323 (313) and\njune onwards 330 (320).\n The board also adjusted export prices at which export taxes\nare levied in dlrs per tonne FOB, previous in brackets, as\nfollows:\n Bran pollard wheat 40 (42), pellets 42 (44).\n REUTER\n\u0003",
"date": " 9-APR-1987 09:15:27.47",
"topics": [
"grain",
"oilseed",
"veg-oil",
"sorghum",
"sun-meal",
"lin-oil",
"groundnut-oil",
"soy-oil",
"rape-oil",
"sun-oil",
"wheat",
"meal-feed"
],
"places": [
"argentina"
],
"id": "15500"
},
{
"title": "CLEVITE <CLEV> GETS 13.50 DLR/SHR OFFER",
"body": "Clevite Industries Inc said it\nreceived a written proposal from J.P. Industries Inc <JPI>\nseeking to buy all of its outstanding shares for 13.50 dlrs a\nshare.\n Clevite's stock was trading on NASDAQ at 13-1/4.\n J.P. Industries recently completed the acquisition of\nClevite's Engine Parts Division.\n J.P. Industries said its proposed transaction would be\nfinanced through borrowings under its available bank lines and\na bridge financing facility which Donaldson Lufkin and Jenrette\nSecurities Corp agreed to arrange.\n To expedite the transaction, J.P. Industries said it would\nbe willing to start a cash tender for Clevite's shares within\nfive days after agreeing upon a definitive merger and\nconfirmation of Clevite's financial results and condition.\n\n Reuter\n\u0003",
"date": " 9-APR-1987 09:16:13.82",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15501"
},
{
"title": "MERCANTILE STORES MARCH SALES UP 0.5 PCT\n",
"date": " 9-APR-1987 09:16:47.73",
"id": "15502"
},
{
"title": "JAPAN BUSINESS LEADERS SAY G-7 ACCORD WORRYING",
"body": "The leaders of two of Japan's top business\ngroups said in separate statements the Group of Seven (G-7)\naccord reached in Washington yesterday is of deep concern to\nJapan because it shows the major industrial nations regard the\nyen's current level as appropriate.\n Eishiro Saito, chairman of the Federation of Economic\nOrganizations (Keidanren), said the yen's present rate is well\nabove adequate levels. He did not elaborate.\n Takashi Ishihara, chairman of the Japan Committee for\nEconomic Development, said the accord will not prevent the yen\nfrom rising further.\n \"We do not understand why the G-7 approved present rates as\nthe yen has risen excessively since the Paris accord,\" Ishihara\nsaid.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:18:22.11",
"topics": [
"yen"
],
"places": [
"japan"
],
"id": "15503"
},
{
"title": "ARGENTINE CATTLE MARKET REPORT",
"body": "ABOUT 3,314 HEAD OF CATTLE WERE\nAUCTIONED IN LINIERS CATTLE MARKET, AGAINST 13,952 ON WEDNESDAY\nAND 9,217 LAST THURSDAY, TRADE SOURCES SAID.\n MAXIMUN PRICES, IN AUSTRALES PER KILO, WITH DOLLAR\nEQUIVALENT IN BRACKETS, INCLUDED:\n TODAY WEDNESDAY\n STEERS OVER 480 KILOS 1.02(0.658) 1.015(0.654)\n STEERS 460 TO 480 KILOS 1.05(0.677) 1.032(0.665)\n COWS FOR CANNING 0.56(0.361) 0.56 (0.361) REUTER\n\u0003",
"date": " 9-APR-1987 09:18:53.44",
"topics": [
"livestock"
],
"places": [
"argentina"
],
"id": "15504"
},
{
"title": "WEST GERMANY'S THESING ISSUES 10 MLN SFR BOND",
"body": "<Thesing-Verwaltungsgesellschaft GmbH> of\nCoesfeld, West Germany, is issuing a 10 mln Swiss franc eight\nyear bond with an indicated 6-3/8 pct coupon and par issue\nprice, joint lead managers Fintrelex SA and E.Gutzwiller und\nCie, Banquiers said.\n Subscription is from May 7 until May 13.\n The issue is guaranteed by Schallplattentruhe A. Thesing\nGmbH und Co Kommanditgesellschaft, Martin Thesing\nHandelsgesellschaft.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:24:50.38",
"places": [
"switzerland",
"west-germany"
],
"id": "15505"
},
{
"title": "MERCANTILE STORES <MST> MARCH SALES UP 0.5 PCT",
"body": "Mercantile Stores Co Inc said\nsales for the five weeks ended April four were up 0.5 pct to\n184.7 mln dlrs from 183.7 mln dlrs a year earlier, with\nsame-store sales off 1.7 pct.\n Mercantile said sales for the first nine weeks of its\nfiscal year were up 2.9 pct to 297.9 mln dlrs from 289.6 mln\ndlrs a year before, with same-store sales up 0.5 pct to 288.6\nmln dlrs from 287.3 mln dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:25:33.37",
"places": [
"usa"
],
"id": "15506"
},
{
"title": "BEST PRODUCTS <BES> MARCH SALES OFF 0.5 PCT",
"body": "Best Products Co Inc said sales\nfor the five weeks ended April four were off 0.5 pct to 151.2\nmln dlrs from 152.0 mln dlrs a year earlier.\n It said year-to-date sales were off 5.9 pct to 263.2 mln\ndlrs from 279.6 mln dlrs a year before.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:25:38.11",
"places": [
"usa"
],
"id": "15507"
},
{
"title": "AMERICAN WOODMARK <AMWD> TO BUILD PLANT",
"body": "American Woodmark Corp said it\nplans to build a 100,000 square foot kitchen cabinet component\nplant in Toccoa, Ga., with completion expected in the spring of\n1988.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:25:59.29",
"places": [
"usa"
],
"id": "15508"
},
{
"title": "K MART <KM> MARCH SALES SHOW INCREASE",
"body": "K mart Corp said its sales for the\nfive weeks ended April One rose 4.6 pct to 2.18 billion dlrs\nfrom 2.08 billion dlrs a year earlier. On a comparable store\nbasis, sales rose one-tenth of one pct.\n It said year-to-date sales increased 7.9 pct to 3.64\nbillion dlrs from 3.37 billion dlrs in the same 1986 period. On\na comparable store basis, the increase was 3.2 pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:26:35.71",
"places": [
"usa"
],
"id": "15509"
},
{
"title": "U.K. MONEY MARKET DEFICIT REVISED DOWNWARD",
"body": "The Bank of England said it has revised\nits estimate of today's shortfall to 350 mln stg from 400 mln,\nbefore taking account of 103 mln stg morning assistance.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:27:09.44",
"topics": [
"money-fx"
],
"places": [
"uk"
],
"id": "15510"
},
{
"title": "PHYSIO TECHNOLOGY <PHYT> SEES LOSS, IN DEFAULT",
"body": "Physio Technology Inc said it\nexpects to have a third quarter, ended March 31, loss of about\n200,000 dlrs and is in default on its bank loan because of the\nresignation of chairman and chief executive officer.\n The company said the loss followed four quarters of modest\nprofits. In the year ago quarter it earned 11,000 dlrs, or one\ncent a share. For the first half of fiscal 1987, it reported a\nprofit of 42,000 dlrs, or two cts a share, compared to a year\nearlier loss of 294,000 dlrs, or 17 cts a share.\n It said President Michael R. Hall will assume the duties of\nchief executive officer.\n Physio Technology said the resignation of Chairman James C.\nLane can constitute non-compliance with its Series A\nconvertible subordinated debentures due 1996 and a default\nunder its agreement with the Merchants Bank of Kansas City.\n It explained a declaration of non-compliance under the\ndebentures would create a a default under the loan agreements\nrequiring immediate payment of 1.8 mln dlrs of debentures and\nabout 450,000 dlrs outstanding under the bank credit line.\n The company said the debenture holders intend to waive the\nnon-compliance, but reserve the right to withdraw the waiver at\nthe end of any 30 day period.\n Physio Technology said it is changing its field sales force\nto independent representatives and dealers from employees to\n\"significantly reduce its fixed overhead.\"\n Its statement did not indicate how many employees would be\naffected by the move.\n The company said Lane will become an independent dealter\nfor the company in certain midwestern states. He will continue\nto serve as a director, it added.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:27:51.36",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15511"
},
{
"title": "TEXAS INTERNATIONAL <TEI> RETIRES SOME NOTES",
"body": "Texas International Co said it has\nretired 2,700,000 dlrs of its 10 pct third delayed convertible\nsnior subordinated notes of 1993 Series A and B.\n As a result, it said it has eliminated the scheduled May\n1987 conversions of 1,300,000 dlrs of Series A notes and\n1,400,000 dlrs of Series B notes.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:28:31.13",
"places": [
"usa"
],
"id": "15512"
},
{
"title": "DERLAN INDUSTRIES PLANS PRIVATE PLACEMENT",
"body": "<Derlan Industries Ltd> said it plans to\nissue 2.1 mln common shares in a private placement at a price\nof 14 dlrs per share for gross proceeds of 29.4 mln dlrs.\n The issue will be placed by McLeod Young Weir Ltd and\nLoewen, Ondaatje, McCutcheon and Co Ltd.\n Proceeds will be used by the company to continue its\nacquisition program and for internal expansion.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:28:52.85",
"places": [
"canada"
],
"id": "15513"
},
{
"title": "COMPAQ <CPQ> AWARDED 1988 GSA CONTRACT",
"body": "Compaq Computer Corp said the General\nService Administration has awarded it a contract allowing\nfederal agencies to purchase COMPAQ personal computers until\nMarch 31, 1988. The previous Compaq GSA contract expired March\n31.\n Under the new agreement, federal agencies can order the\nCOMPAQ presonal computers through any one of 1,400 authorized\nCOMPAQ computer government dealers without going through\ntime-consuming competitive bids.\n Puchases of over 300,000 dlrs, however, must still be bid\ncompetitively, Compaq said.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:29:09.32",
"places": [
"usa"
],
"id": "15514"
},
{
"title": "WASHINGTON FEDERAL SAVINGS <WFSL> 2ND QTR NET",
"body": "Qtr ends March 31\n Shr one dlr vs 76 cts\n Net 11.9 mln vs 8,929,000\n Six mths\n Shr 1.92 dlrs vs 1.43 dlrs\n Net 22.8 mln vs 16.8 mln\n NOTE: full name of bank is washington federal savings and\nloan association.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:29:14.71",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15515"
},
{
"title": "COMINCO <CLT> TO FORM EXPLORATION UNIT",
"body": "Cominco Ltd said it is forming a new\npublicly held company, Cominco Resources International Ltd, to\ncontinue exploration and development of its mineral holdings\noutside Canada, Alaska and Australia.\n Cominco will maintain a majority position in the company,\nbut the remaining interest will be sold in offerings led by\nWood Gundy Inc and First Marathon Securities Ltd in Canada, and\nS.G. Warburg Securities and Wood Gundy Inc internationally.\n Cominco said it is filing a preliminary prospectus with\nsecurities regulators in all Canadian provinces.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 09:29:32.54",
"places": [
"canada"
],
"id": "15516"
},
{
"title": "CALFED <CAL> FORMS INSURANCE UNIT",
"body": "CalFed Inc said it has entered the\nproperty-casualty insurance business through the formation of\nAnglo-American Insurance Co Ltd, a London-based subsidiary\ninitially capitalized at 80 mln dlrs.\n The company said <London United Investment PLC> will share\nequally in all risks, premiums and reinsurance with\nAnglo-American and perform all underwriting activities for\nAnglo-American.\n It said more than half of the venture's business is\nexpected to be in the U.S.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:29:46.27",
"places": [
"uk",
"usa"
],
"id": "15517"
},
{
"title": "SEKISUI CHEMICAL ISSUES EQUITY WARRANT EUROBOND",
"body": "Sekisui Chemical Co Ltd is issuing a 200\nmln dlr equity warrant bond due May 7, 1992 paying an indicated\ncoupon of two pct and priced at par, lead manager Yamaichi\nInternational (Europe) Ltd said.\n The issue is guaranteed by Sanwa Bank Ltd and is available\nin denominations of 5,000 dlrs. The selling concession is 1-1/2\npct while management and underwriting combined pays 3/4 pct.\nThe payment date is May 7 while listing will be in Luxembourg.\n Final terms will be fixed on April 15. The warrants are\nexercisable from May 20, 1987 until April 20, 1992.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:30:50.29",
"places": [
"uk"
],
"id": "15518"
},
{
"title": "PAYLESS CASHWAYS <PCI> MARCH SALES UP",
"body": "Payless Cashways Inc said its\nsales for the five weeks ended April Four rose to 167.4 mln\ndlrs from 147.5 mln dlrs a year ago, or one pct on a comparable\nstore basis.\n Year to date, it said sales gained to 499.6 mln dlrs from\n422.0 mln dlrs, or four pct on a comparable store basis.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:31:03.71",
"places": [
"usa"
],
"id": "15519"
},
{
"title": "U.S. ENERGY FUTURES CALLED UNCHANGED TO LOWER",
"body": "Traders expect U.S. energy futures will\nopen unchanged to slightly lower this morning with support near\nyesterday's lows.\n Crude futures are called unchanged to five cts weaker\ntracking unchanged domestic crudes and North Sea Brent crude,\nwhich traded at 18.01 dlrs a barrel today, about ten cts below\nyesterday's New York close.\n Traders said the supply squeeze in 15-day forward April\nBrent appears to have ended.\n Product futures, which fell sharply yesterday, are due to\nopen unchanged to 0.25 cent lower, traders said.\n Traders expect some followthrough selling in products but\nsaid gasoil futures in London will probably lend some support\nsince they are trading as expected. May gasoil futures were off\n1.50 dlrs a tonne this morning while June was down 1.25 dlrs in\nthin conditions.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:32:17.28",
"topics": [
"crude",
"heat"
],
"places": [
"usa"
],
"id": "15520"
},
{
"title": "PONCE FEDERAL BANK F.S.B. <PFBS> 1ST QTR NET",
"body": "Shr 63 cts vs 89 cts\n Net 3,425,216 vs 3,370,682\n Avg shrs 5,421,330 vs 3,803,425\n NOTE: net for both qtrs reflects gains on sales of\nsecurities of 1,755,137, or 51 pct of net, in 1987; and\n3,001,222, or 89 pct of net in 1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:33:49.16",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15521"
},
{
"title": " BUNDESBANK SEES NO REASON TO CHANGE MONETARY COURSE -\nVICE-PRESIDENT SCHLESINGER\n",
"date": " 9-APR-1987 09:33:58.88",
"topics": [
"money-fx",
"interest"
],
"id": "15522"
},
{
"title": "U.K. MONEY MARKET DEFICIT REMOVED",
"body": "The Bank of England said it has satisfied\nits revised estimate of today's shortfall in the money market,\nproviding 261 mln stg assistance in afternoon operations.\n The Bank bought in band one, 60 mln stg bank bills at 9-7/8\npct and in band two 200 mln stg bank bills and one mln stg\ntreasury bills at 9-13/16 pct. This brings the total help so\nfar today to 364 mln stg, compared with its deficit estimate of\n350 mln stg.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:35:20.08",
"topics": [
"money-fx"
],
"places": [
"uk"
],
"id": "15523"
},
{
"title": "STOP AND SHOP'S <SHP> BRADLEES MARCH SALES RISE",
"body": "Stop and Shop Cos Inc said its Bradlees\nDiscount Department Stores Division's sales for the five weeks\nended April four were up six pct to 156 mln dlrs from 147 mln\ndlrs a year before, with same-store sales up one pct.\n The company said sales for the first nine weeks of the year\nwere up six pct to 259 mln dlrs from 245 mln dlrs a year\nbefore, with same-store sales up two pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:35:36.61",
"places": [
"usa"
],
"id": "15524"
},
{
"title": "CHINA LIKELY TO JOIN GATT, DIPLOMATS SAY",
"body": "China is likely to succeed in joining\nGATT despite policies that contradict free trade, because\nwestern countries support its entry, western diplomats said.\n China applied to join the General Agreement on Tariffs and\nTrade (GATT) in July 1986. The organisation, formed in 1948 to\nintegrate the world's free market economies, now regulates 80\npct of world trade.\n The GATT secretariat is expected to submit a list of\ndetailed questions to China next month at the start of long and\ncomplex entry negotiations, the diplomats said.\n One diplomat said China's prospects are good, with its\napplication supported by the United States, Japan and the\nEuropean Community for political and economic reasons.\n \"The fear is that if China was refused entry, it would draw\nback the bamboo curtain and go back to the way it was,\" he said.\n Another said the Soviet Union was waiting in the wings.\n \"If GATT accepted China, it would be hard not to accept the\nSoviet Union,\" he said. \"China's agreement will be seen as a\nmodel for the Soviet Union. GATT is not a political body.\"\n But serious problems have to be tackled during the talks,\nincluding China's pricing system and trade subsidies.\n GATT is based on free trade and aims to lower tariffs and\npromote trade, with prices alone dictating who buys what.\n One diplomat said it was very hard in China to establish\nthe real cost of goods because many prices are set by the state\nand often contain subsidies.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:36:38.77",
"organisations": [
"gatt"
],
"places": [
"china"
],
"id": "15525"
},
{
"title": "WANG <WAN> SIGNS MARKETING AGREEMENT",
"body": "Wang Laboratories said it signed\nan agreement with <Desk Top Financial Solutions Inc> giving\nWang the right to market the Desk Top Financial Planning System\nfor Wang's Office Information Systems (OIS) product line.\n Wang said the Desk Top Financial Planning System for its\nOIS comes in two basic packages -- the Advanced Planning\nSystem, priced at 2,995 dlrs, and the Budget Reporting System,\npriced at 1,995 dlrs.\n Both are avialable on eight inch and 5-1/4 inch diskettes,\nWang said.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:37:15.50",
"places": [
"usa"
],
"id": "15526"
},
{
"title": "LEBANESE POUND FALLS SHARPLY AGAINST DOLLAR",
"body": "The Lebanese Pound fell sharply against\nthe U.S. Dollar again today with dealers attributing the\ndecline to continued political uncertainty.\n The pound closed at 118.25/118.75 against the dollar\ncompared to yesterday's close of 115.60/115.80.\n \"Political deadlock is reflected in the pound's position.\nThere was more demand and less on offer in the market,\" one\ndealer told Reuters.\n The pound, which was at 18 to the dollar in January, 1986,\nhas lost more than 30 pct of its international value over the\npast three months.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:37:38.62",
"topics": [
"money-fx"
],
"places": [
"lebanon"
],
"id": "15527"
},
{
"title": "BROWN BOVERI UND CIE AG LIFTS 1986 DIVIDEND",
"body": "Dividend on 1986 business 12 marks per share vs seven\nmarks.\n (Company is a subsidiary of Switzerland's BBC AG Brown\nBoveri und Cie <BBCZ.Z>).\n Reuter\n\u0003",
"date": " 9-APR-1987 09:37:52.03",
"topics": [
"earn"
],
"places": [
"west-germany",
"switzerland"
],
"id": "15528"
},
{
"title": "RIO TINTO CUTS DEBT-EQUITY RATIO",
"body": "Rio Tinto-Zinc Corp Plc <RTZL.L> cut its\nbalance sheet gearing, measured as net debt as a proportion of\nequity, to 35 pct at the end of 1986 from 61 pct a year\nearlier, finance director Andrew Buxton told reporters.\n He said currency movements last year did not greatly affect\nthe earnings outcome, though had a greater impact on the\nbalance sheet.\n At year-end, 40 pct of its assets were industrial, 35 pct\nin metal mining and processing and 25 pct in energy.\n Earlier, RTZ reported 1986 net attributable profit of 245\nmln stg against 257 mln the previous year.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:38:01.21",
"places": [
"uk"
],
"id": "15529"
},
{
"title": "TALKING POINT/SEMICONDUCTOR BOOK TO BILL RATIO",
"body": "The Semiconductor Industry\nAssociation is expected to report the sixth straight increase\nin its three-month average book-to-bill ratio, reflecting a\ncontinued modest recovery in the computer chip industry,\nsemiconductor analysts said.\n Semiconductor analysts contacted by Reuters put the March\nbook-to-bill -- which is the ratio of new orders to actual\nsales -- at around 1.15, up from a preliminary 1.13 in the\nthree months ended in February. The association is expected to\nrelease its estimates later today or on friday.\n The analysts said they expect strong March performance both\nin new orders and actual sales.\n Michael Gumport, analyst with Drexel Burnham Lambert Inc,\nprojected the three-month average of new computer chip orders\nat about 835 mln dlrs, up from 788 mln dlrs in February.\n He put three-month average sales at about 720 mln dlrs,\nalso an increase from the 700 mln dlrs reported last month.\n Gumport said average new orders over 850 mln dlrs would be\na plus for semiconductor industry stocks, while orders under\n800 would be interpreted negatively on Wall Street.\n Gumport said cut backs in Japanese computer chip production\nare aiding U.S. chip maker orders and sales.\n Edward White, analyst with E.F. Hutton Group Inc, said\nwhile Japanese cut backs may be a small factor, their effect\nshould be more readily apparant in April and May.\n White, who put the March book-to-bill ratio at 1.15-1.16,\nsaid the ratio might hit 1.20 later this spring, before showing\na normal seasonal decline during the summer.\n He forecast three-month average orders at 825 mln dlrs for\nMarch, with three-month average billings at about 711 mln dlrs.\n \"This says the industry is still in a phase of moderate\nrecovery...it is not dramatic yet,\" said White.\n He said the industry still has not seen a pick-up in high\ntechnology capital spending needed to create a strong recovery.\n He said a boost in spending on such big-ticket items as\nmainframe computers would enhance the recovery, which is now\nfocused on personal and small business computers.\n Kidder Peabody and Co analyst Michael Kubiak agreed the\nindustry is showing a recovery trend, that while encouraging,\nis not dramatic.\n Kubiak projected the March book-to-bill ratio at 1.14. He\nsaid the three-month average for orders will be up about 4.5\npct from last month, while shipments rise about one pct.\n He noted, however, orders during the month of March alone,\na statistic the Semiconductor Industry Association does not\npublish, should show a 15-20 pct rise from February orders.\n Kubiak said a book to bill ratio of 1.14 would have little\nor no effect on semincondutor industry stocks, while a ratio of\n1.13 would be negative for the market and a ratio of 1.16 would\nlikely cause the stocks to rise.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:38:13.65",
"places": [
"usa"
],
"id": "15530"
},
{
"title": "LONDON FREIGHT MARKET FEATURES GRAIN OUT OF U.S.",
"body": "Moderately active grain fixing was\nreported out of the U.S. But none of the business involved the\nsignificant voyages to the Continent or Japan, ship brokers\nsaid.\n A steady 13.50 dlrs was paid from the U.S. Gulf to Morocco\nand 23.25 dlrs was paid for 27,000 long tons from the Gulf to\nTaiwan. A vessel carrying 13,500 long tons of bagged wheat\nflour from the Gulf to Aqaba received a lump sum of 472,500\ndlrs.\n Grain from the Great Lakes to Algeria made 28 dlrs against\n27.75 paid for similar fixing towards the end of March.\n Market talk suggested a Federal Commerce vessel had been\nbooked to move grain from the Great Lakes to Morocco on Comanav\naccount at about 22 dlrs and 15.50 had been paid for a cargo of\noilseeds from British Columbia to Japan, but no confirmation\nwas obtainable.\n On the Continent, shippers agreed 19 dlrs for wheat from La\nPallice to Buenaventura and 10.75 dlrs for grain from Ghent to\nNaples/Venice range. Elsewhere, maize from East London to Japan\npaid 22 dlrs.\n Soviet charterers reappeared in the timecharter sector and\nsecured a 30,000 tonner from Savona for a trans-Atlantic round\ntrip at 4,450 dlrs daily and a 31,000 tonner from\nAntwerp-Hamburg for a similar voyage at 4,250 dlrs daily.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:40:15.27",
"topics": [
"grain",
"ship"
],
"places": [
"uk"
],
"id": "15531"
},
{
"title": "HOG AND CATTLE SLAUGHTER GUESSTIMATES",
"body": "Chicago Mercantile Exchange floor\ntraders and commission house representatives are guesstimating\ntoday's hog slaughter at about 287,000 to 295,000 head versus\n292,000 week ago and 322,000 a year ago.\n Cattle slaughter is guesstimated at about 124,000 to\n128,000 head versus 129,000 week ago and 134,000 a year ago.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:40:43.83",
"topics": [
"hog",
"livestock"
],
"places": [
"usa"
],
"id": "15532"
},
{
"title": "SENETEK <SNTKY> UNIT TO MARKET AIDS TEST",
"body": "Senetek PLC said its\nSenetek A/S Danish subsidiary has signed a letter of intent to\nmarket <Diagnostic Biotechnology Co Pt Ltd> of Singapore's AIDS\nantibody tests to the health care industries in Britain and the\nScandinavian countries.\n The company said its 49 pct owned Tessek Ltd joint venture\naffiliate in Prague has also signed a letter of intent to\nmarket Diagnostics AIDS tests in Czechoslovakia and other\nComecon countries. It said Tessek has agreed to exchange\nresearch information with Diagnostic in the development of a\nnew AIDS diagnostic kit using Tessek technology.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:41:33.99",
"places": [
"usa"
],
"id": "15533"
},
{
"title": "EUROCHEQUE EXPECTS AROUND 10 PCT CARD GROWTH",
"body": "The number of cards in the Eurocheque\nsystem, Europe's biggest personal payments system, grew by 11\npct to 39.1 mln last year and is expected to continue\nincreasing by around 10 pct in coming years, Eurocheque\nInternational Secretary General Mark Van Wauve said.\n He told a news conference Eurocheque cards can now be used\nin 40 European and Mediterranean countries to back Eurocheques\nwritten in local currency and, where facilities are available,\nas electronic debit cards. The system would have 5,000\nautomatic cash dispensers by the end of this year and aimed to\nhave 25,000 throughout Europe by 1992.\n Eurocheques and cards are issued by banks in 21 countries.\n Van Wauve said Italian banks, who already accept\nEurocheques, had recently asked to be allowed also to issue\nEurocheques and cards to their clients. It was possible these\nwould be launched in Italy this year if the Rome government\nagreed to lift exchange controls that prevent residents writing\ncheques abroad in any currency but lira, he told Reuters.\n Eurocheque International, the system's Brussels-based\ncoordinating centre, was also reviewing a request from the\nSoviet Union for permission to issue cheques and cards.\n Eurocheque's agreements with banks do not permit them to\ncharge commissions from clients using Eurocheques, and Van\nWauwe said problems with French banks that have demanded such\ncommissions had been reduced to a minimum last year.\n Eurocheques can also be used to pay in local currency for\ngoods and services bought in over five mln retail outlets in 28\ncountries, with Hungary, Tunisia and Greece added to the system\nthis year. East Germany last year became the 40th country to\naccept Eurocheques, made out in dollars, at banks and shops.\n Eurocheque International estimated the total of Eurocheques\nused nationally and internationally at over one billion a year.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:45:03.90",
"places": [
"belgium"
],
"id": "15534"
},
{
"title": "WHIRLPOOL CORP 1ST QTR SHR 66 CTS VS 67 CTS\n",
"date": " 9-APR-1987 09:46:09.57",
"topics": [
"earn"
],
"id": "15535"
},
{
"title": "BRAZILIAN SOY RAINFALL",
"body": "THE FOLLOWING RAINFALL WAS RECORDED IN\nTHE 24 HOURS UP TO (1200) GMT TODAY\n PARANA STATE: CASCAVEL NIL, PONTA GROSSA NIL,CAMPO MOURAO\nNIL, LONDRINA NIL, MARINGA NIL.\n RIO GRANDO DO SUL STATE: PASSO FUNDO NIL, SANTA MARIA 7.0\nMILLIMETRES, CRUZ ALTA 8.5 MM, SAO LUIZ GONZAGA 4.4 MM. REUTER\n\u0003",
"date": " 9-APR-1987 09:48:18.40",
"topics": [
"oilseed",
"soybean"
],
"places": [
"brazil"
],
"id": "15536"
},
{
"title": "BIOTHERAPEUTICS <BITX> REPORTS DRUG FINDINGS",
"body": "Biotherapeutics Inc said its\ncooperative findings on interleukin-2, the anti-cancer drug,\nwere published today in the \"New England Journal of Medicine\".\n Biotherapeutics, along with the Biological Therapy\nInstitute and the National Cancer Institute, said the\npublication focused on a reduction in toxicity through the use\nof a constant infusion mode of intravenous administration\nprotocol.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:49:36.32",
"places": [
"usa"
],
"id": "15537"
},
{
"title": "WAL-MART STORES <WMT> MARCH SALES RISE",
"body": "Wal-Mart Stores Inc said March\nsales were up 32 pct to 1.13 billion dlrs from 855 mln dlrs a\nyear earlier, with same-store sales up eight pct.\n The company said sales for the first two months of its\nfiscal year were up 37 pct to 2.01 billion dlrs from 1.47\nbillion dlrs a year before, with same-store sales up 11 pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 09:49:51.02",
"places": [
"usa"
],
"id": "15538"
},
{
"title": "BUNDESBANK SEES NO CHANGE IN MONETARY COURSE",
"body": "The Bundesbank sees no current reason\nto change monetary course, vice-president Helmut Schlesinger\ntold Reuters in a telephone interview.\n Schlesinger was responding to questions following remarks\nyesterday by Bundesbank board member Claus Koehler and West\nBerlin state central bank president Dieter Hiss, which, dealers\nsaid, revived some speculation that German interest rate cuts\nmay once again be under discussion.\n Schlesinger said he had no comment on the remarks of his\ntwo central bank council colleagues.\n But he added that the last central bank council meeting on\nApril 2 had discussed the economic situation with a mood of\n\"subdued optimism,\" particularly influenced by the news brought\nby several state central bank presidents.\n \"Much is going better than the impression gained by the\npublic from the January figures, which have been in the\nmeantime superseded,\" he said.\n German January industrial output fell 3.0 pct after a\ndecline of 0.9 pct in December. New industry orders fell 1.9\npct after they had been unchanged in December.\n Bank economists said that the two together showed the\neconomy would either stagnate or contract in the first quarter\nof 1987.\n Aside from the economic developments, Schlesinger added, a\nsteady monetary course was important to hold the dollar/mark\nrate around current levels as Bundesbank president Karl Otto\nPoehl had said while attending the Washington World Bank/IMF\nmeeting.\n Asked, however, if the Bundesbank could move to cut rates\non repurchase agreements at the setting of the next repurchase\ntender, due next Tuesday, Schlesinger said, \"Since the central\nbank council gives its opinion on this theme only every 14\ndays, this is hardly probable.\"\n Responding to the question whether the Bundesbank had moved\naway from a policy of targetting monetary growth toward one of\ntargetting currency rates, Schlesinger said he could have no\ncomment on the subject while negotiations were still in\nprogress in Washington.\n REUTER\n\u0003",
"date": " 9-APR-1987 09:51:52.33",
"topics": [
"money-fx",
"interest"
],
"places": [
"west-germany"
],
"id": "15539"
},
{
"title": "BRAZILIAN COFFEE RAINFALL",
"body": "THE FOLLOWING RAINFALL WAS RECORDED IN\nTHE AREAS OVER THE PAST 24 HOURS\n PARANA STATE: UMUARAMA NIL, PARANAVAI NIL, LONDRINA NIL,\nMARINGA NIL.\n SAO PAULO STATE PRESIDENTE PRUDENTE NIL, VOTUPORANGA NIL,\nFRANCA NIL, CATANDUVA NIL, SAO CARLOS NIL, SAO SIMAO NIL.\n MINAS GERAIS STATE: GUAXUPE NIL, TRES PONTAS NIL. REUTER\n\u0003",
"date": " 9-APR-1987 10:02:08.32",
"topics": [
"coffee"
],
"places": [
"brazil"
],
"id": "15540"
},
{
"title": "HOKKAIDO TAKUSHOKU CONVERTIBLE EUROBOND COUPON CUT",
"body": "The coupon on the 100 mln dlr, 15-year,\nconvertible eurobond for Hokkaido Takushoku Bank Ltd has been\nset at 1-3/4 pct compared with the indicated two pct,\njoint-lead bookrunner Yamaichi International (Europe) Ltd said.\n The conversion price was set at 1,052 yen, while the\nforeign exchange rate was fixed at 146.20 yen per dollar.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:02:42.53",
"places": [
"uk"
],
"id": "15541"
},
{
"title": "E.F. HUTTON LBO INC SAID TENDER OFFER BY PC ACQUISITTION\nFOR PUROLATOR COURIER EXPIRED\n",
"date": " 9-APR-1987 10:02:59.09",
"topics": [
"acq"
],
"id": "15542"
},
{
"title": "WORLD BANK TO SUPPORT SRI LANKA IF DEFICITS CUT",
"body": "The World Bank will support Sri Lanka's\ndevelopment program provided the country reduces its budget and\ncurrent account deficits, the Ministry of Finance said.\n It said Bank President Barber Conable at a meeting with Sri\nLanka's Finance Minister Ronnie de Mel in Washington also\nemphasised the need for structural adjustment and reform to the\neconomy, battered by five years of separatist disturbances.\n Officials said Sri Lanka's budget deficit this year is\nexpected to surpass the projected 28.7 billion rupees while\ndefence spending, already up by two billion rupees from a\ntargetted 10 billion, is also likely grow.\n The Ministry said de Mel asked the World Bank to give Sri\nLanka 6.5 billion rupees balance of payments support.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:03:09.95",
"topics": [
"bop"
],
"organisations": [
"worldbank"
],
"places": [
"sri-lanka"
],
"id": "15543"
},
{
"title": "E.F. HUTTON LBO INC SAYS UNIT TERMINATES MERGER AGREEMENT\nWITH PUROLATOR COURIER\n",
"date": " 9-APR-1987 10:07:10.41",
"topics": [
"acq"
],
"id": "15544"
},
{
"title": "GEMINA HAS NO COMMENT ON AMBROSIANO REPORT",
"body": "Holding company <Gemina Spa> said it had\nno comment on an Italian press report today that it has\nacquired a 12 pct stake in <Nuovo Banco Ambrosiano Spa>.\n Italian daily La Repubblica said that Gemina paid 205\nbillion lire for the shareholding from several Italian banks. A\nGemina spokeswoman told Reuters, \"We have nothing to say about\nthe report.\"\n A spokeswoman for Milan-based Ambrosiano said, \"We have no\ninformation at this time.\" In February, Ambrosiano chairman\nGiovanni Bazoli said foreign and domestic firms have expressed\ninterest in buying stakes in the bank.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:07:23.01",
"topics": [
"acq"
],
"places": [
"italy"
],
"id": "15545"
},
{
"title": "SEARS, ROEBUCK <S> MARCH RETAIL SALES UP",
"body": "Sears, Roebuck and Co said retail sales\nof its Merchandise Group in March rose 4.2 pct to 2.62 billion\ndlrs from 2.51 billion dlrs a year ago.\n For the nine weeks ended April Four, Sears Merchandise\nGroup sales rose 4.5 pct to 4.46 billion dlrs from 4.27 billion\ndlrs in the same 1986 period.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:07:37.41",
"places": [
"usa"
],
"id": "15546"
},
{
"title": "VOLKSWAGEN DIVIDEND UNCHANGED ON 1986",
"body": "Dividend on 1986 business unchanged at 10 marks per\nordinary share. Company also set dividend of 11 marks for new\npreference shares, which were issued last year.\n (Note: Company has said profit will match 1985 level,\ndespite provisions of 480 mln marks connected with alleged\ncurrency fraud. Group net profit in 1985 was 596 mln marks,\nparent company net was 477 mln marks. Company's full name is\nVolkswagen AG <VOWG.F>).\n REUTER\n\u0003",
"date": " 9-APR-1987 10:07:47.65",
"topics": [
"earn"
],
"places": [
"west-germany"
],
"id": "15547"
},
{
"title": "WHIRLPOOL CORP <WHR> 1ST QTR NET",
"body": "Shr 66 cts vs 67 cts\n Net 48,700,000 vs 49,300,000\n Sales 961.0 mln vs 870.6 mln\n Avg shrs 74,123,837 vs 73,374,398\n Reuter\n\u0003",
"date": " 9-APR-1987 10:08:25.44",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15548"
},
{
"title": "U.S. SAID TO VIEW G-7 MEETING AS MAJOR SUCCESS",
"body": "The United States, which has long\nsought Japanese action to stimulate its economy, appears to be\nsatisfied Tokyo's latest package is a major development and\nallows leading industrial nations to reaffirm their agreement\nto stabilize currencies.\n Monetary sources said they believed that U.S. Treasury\nSecretary James Baker considered Tokyo's package, announced\nyesterday, to be a major stimulation of the Japanese economy.\n But yesterday's statement by seven leading industrial\npowers endorses the yen's rise from around 153 to the dollar,\nthe level at the February 22 Paris Accord, to about 145 today.\n And the initial reaction of currency markets in the Far\nEast demonstrates that financial markets are unconvinced that\ncurrencies yet reflect economic fundamentals, even though the\ncountries appear to do so. The yen sank below 145 at one point\ndespite intervention by the Bank of Japan.\n Kiichi Miyazawa, Japan's Finance Minister, said the\nmovement since Paris was consistent with currency trading\nranges the nations agreed to defend in the February talks.\n \"I would say that what has happened (to the yen) in the past\nseveral weeks was not outside the range we agreed to in the\ndiscussions in Paris,\" Miyazawa said yesterday.\n The supplementary budget worth about 34.48 billion dlrs was\nannounced by the ruling Liberal Democratic Party on the eve of\nMiyazawa's departure for Washington, to attend yesterday's\nmeetings of leading industrial nations.\n In a strongly worded statement terming the Japanese action\n\"extraordinary and urgent\", the meeting reaffirmed the Paris\nAccord by noting that current exchange rates are within ranges\nbroadly consistent with fundamentals, or economic reality.\n The Group of Seven -- the United States, Japan, West\nGermany, France, Britain, Italy and Canada -- therefore\nrepeated their willingness to continue close cooperation to\nfoster exchange rate stability.\n The cooperation agreement has resulted in concerted central\nbank intervention of 8 billion to 9 billion dlrs to halt the\ndollar's fall. While relatively unsuccessful, the scale of\nintervention between so many nations is unprecedented in recent\nyears. Monetary sources also said they understood that\nSecretary Baker considered the meeting to be extremely\nsuccessful in the light of the Japanese announcement.\n They also said there was a growing feeling among the\nfinance ministers and central bankers that cooperation over\nmedium-term policies has replaced the bickering over short-term\ndifferences in past meetings.\n West Germany, whose currency has not risen anything like\nthe yen since the Paris Agreement, appears from the face of\nyesterday's statement to have won acceptance from other\ncountries that its exchange rate is acceptable.\n Bonn's finance minister Gerhard Stoltenberg argues that\nmajor currency shifts needed to remedy the huge imbalance\nbetween West Germany and Japan's trade surpluses and America's\ntrade deficit have already taken place.\n No mention was made, however, of the U.S. commitment to cut\nthe budget deficit even though it is implied in the\nreafffirmation of Paris.\n European nations and Japan believe deficit cuts are\nessential to curbing the record U.S. trade shortfall that\nreached nearly 170 billion dlrs last year.\n A similar argument was made on Capitol Hill earlier this\nweek by Federal Reserve Board chairman Paul Volcker. A further\nsharp fall to redress trade imbalances would \"clearly pose\nsubstantial risks of renewed inflationary momentum and could\nundermine confidence in future financial stability,\" he said.\n Volcker warned a further dollar fall might force the\npolitically independent Fed to drive up interest rates.\n Monetary sources said that, privately, West Germany\nwelcomed the rise in the yen against the dollar while its own\ncurrency remained relatively stable against the U.S. unit.\n Bonn and other European nations worry that once the weak\ndollar blunts Tokyo's export drive to the United States, the\nJapanese monolith will concentrate on European markets.\n The ministers, meanwhile, also continued talks on making\ntheir policy coordination more binding and one, Canadian\nFinance Minister Michael Wilson, said good progress was made.\n Wilson said they will meet before the June Economic Summit\nto prepare a report for the leaders of the seven nations.\n The United States and France, backed by the International\nMonetary Fund, want the seven to agree on ranges or \"norms\" for a\nlimited number of economic objectives such as growth,\ninflation, monetary conditions, trade balances and current\naccount balances.\n Sharp deviations from these guidelines would result in\nconsultations between the countries on whether corrective\naction should be required.\n But the inclusion of currencies as one of the objectives\nhas Bonn and London worried, monetary sources say, because it\nimplies Washington is moving in the direction of target zones.\n The sources said the Reagan administration unsuccessfully\nsounded out its allies on a system of target zones to limit\ncurrency fluctuations just before the February meeting.\n The concept is a much more rigid one than the secret ranges\nof the Paris Accord and would mark a sharp departure from the\nrelatively free currency markets of recent years.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:10:03.25",
"topics": [
"dlr",
"yen"
],
"places": [
"usa",
"japan",
"uk",
"west-germany",
"france",
"italy",
"canada"
],
"id": "15549"
},
{
"title": "BANK OF FRANCE LEAVES INTERVENTION RATE UNCHANGED",
"body": "The Bank of France said it left its\nintervention rate unchanged at 7-3/4 pct when it injected funds\nin the market against first category paper in today's money\nmarket intervention tender.\n Money market dealers had earlier expressed mixed views on\nthe possibility of quarter point cut.\n The rate was last adjusted on March 9, when it was cut to\n7-3/4 pct from the eight pct rate set in January.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:10:58.67",
"topics": [
"interest"
],
"places": [
"france"
],
"id": "15550"
},
{
"title": "GLOBAL ECONOMIC SLOWDOWN RAISES NEW DEBT FEARS",
"body": "The global economy is expected to\nweaken this year, adding new worries to an already serious\npoverty outlook, economic analysts said.\n For finance ministers and central bankers attending this\nweek's semi-annual meetings of the International Monetary Fund\nand World Bank, the new figures released by the IMF add an\nadditional concern.\n The Fund estimated world output would only grow by 2.7 pct\nthis year, versus 2.9 pct last year, and 3.1 pct in 1985.\n In the industrial countries, Gross National Product, a\nmeasure of all goods and services, was expected to decline to\n2.3 pct this year, compared with 2.4 pct in 1986, the IMF said.\n For the developing countries, the Gross Domestic Product,\nanother measure of economic growth, was expected to fall to 3.0\npct from 3.5 pct last year.\n The new figures are considered a major disappointment to\nthe poorest countries. They had hoped that new vitality in the\nindustrial countries brought on by a sharp decline in oil\nprices would assist their economic recovery and help them cope\nwith growing mounds of debt.\n IMF officials, discussing their outlook, said they believed\nthe industrial country economies would move up to an annual\ngrowth rate of three pct by the end of the decade.\n Economic analysts and the IMF have been saying for some\ntime that the ability to keep the debt crisis from turning into\nan economic rout rests on sustained economic growth.\n Since the debtor countries must look to the wealthier\nstates for markets for their products as well as financial\nassistance, economic weakness in the developed nations' \neconomies poses fundamental worries.\n Debtor countries, including the very poorest states, have\nonly a few avenues open to them for earning foreign exchange,\nincluding the key one of exports.\n The U.S. economy, which is in its fifth year of expansion,\nhas served as a mainstay for developing country exports, but it\ntoo is seen as being rather feeble this year, growing by only\n2.3 pct, according to the IMF.\n For this reason and because of a high trade deficit, the\nUnited States has been pressuring Japan and West Germany to\nignite their economies but with little apparent success.\n The IMF study also examines the course of the dollar and\nthe curious lack of impact it has had on the U.S. trade\ndeficit.\n Reagan administration officials have been saying that the\nimpact is now beginning to show up, although it has been much\nslower than expected.\n The IMF observed in its World Economic Outlook that \"it has\nto be recognized that exchange rate adjustments take time to\nwork through to payments flows -- probably at least three years\nto get a resonably complete effect.\"\n The report added, however, \"the adjustments may take even\nmore time on this occasion.\"\nREUTER^M\n\u0003",
"date": " 9-APR-1987 10:13:27.77",
"topics": [
"gnp"
],
"organisations": [
"imf",
"worldbank"
],
"places": [
"usa"
],
"id": "15551"
},
{
"title": "SPANISH EMPLOYERS WORRIED BY HIGH INTEREST RATES",
"body": "The head of Spain's employers'\nfederation, Jose Maria Cuevas, said employers were worried\nabout the government's monetary policies because high real\ninterest rates were hampering investment.\n He told a news conference wage pacts signed so far this\nyear were not endangering the government's five pct inflation\ntarget. The government's perceived need to control inflation by\nkeeping a tight rein on credit was unnecessary, he said.\n High real interest rates were attracting an influx of\nspeculative foreign capital which was undercutting the\ngovernment's target for monetary growth, Cuevas said.\n Spain's most closely-watched measure of money supply,\nliquid assets in public hands, grew at an annualised rate of 17\npct in March, against 11.4 pct in December last year and a\ntarget range of 6.5 to 9.5 pct for 1987.\n To combat this, the Bank of Spain has raised its call money\nrate 14 times so far this year, to 14.5 pct at present from\n11.8 at end-1986.\n Cuevas said employers were heeding the government's call to\nhold wage increases to its five pct inflation target this year,\nwith increases from salary reviews awarded last year and new\nwage pacts averaging 5.6 pct in the first quarter of 1987.\n These agreements covered less than 40 pct of Spanish\nworkers, Cuevas said, with the rest still in wage negotiations.\n He said Spain's current wave of strikes mainly affected the\nstate sector, where the government is trying to impose its five\npct wage ceiling.\n Cuevas said employers were also worried about the trend in\nSpain's foreign trade balance. The trade deficit in the first\ntwo months of 1987 totalled 233 billion pesetas, a 68 pct\nincrease over the corresponding period last year.\n However, employers did not favour a devaluation of the\npeseta to correct the imbalance.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:15:55.48",
"topics": [
"interest",
"money-supply",
"trade"
],
"places": [
"spain"
],
"id": "15552"
},
{
"title": "SHOWBOAT <SBO> DECLARES STOCK SPLIT",
"body": "Showboat Inc said its board declared a\ntwo-for-one stock split, payable to shareholders of record on\nMay 15.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:17:10.28",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15553"
},
{
"title": "J.C. PENNEY <JCP> MARCH SALES OFF 1.3 PCT",
"body": "J.C. Penney Co Inc said sales for the\nfive weeks ended April Four for its JCPenney stores and catalog\nwere off 1.3 pct to 1.12 billion dlrs from 1.13 billion a year\nbefore, with same-store sales off 1.5 pct.\n The company said total company sales were off 0.2 pct to\n1.25 billion dlrs from 1.26 billion dlrs.\n Penney said sales for ther first nine weeks of its fiscal\nyear for its JCPenney stores and catalogs were up 1.3 pct to\n1.90 billion dlrs from 1.87 billion dlrs a year before, with\nsame-store sales up 1.2 pct.\n Penney said year to date sales company-wide were up 2.3 pct\nto 2.14 billion dlrs from 2.09 billion dlrs, with same-store\nsales up 2.2 pct.\n Penney said \"Sales were in line with expectations in light\nof the shift of Easter from March in 1986 to April this year.\nSales continued strong for catalog operations and,\ngeographically, ranged from very active in the East to weak in\nthe economically depressed Southwest.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:17:34.23",
"places": [
"usa"
],
"id": "15554"
},
{
"title": "SUPERMARKETS GENERAL <SGL> FIVE WEEK SALES",
"body": "Supermarkets General Corp said\nits sales were 540.9 mln dlrs for the five-week period ended\nApril 4, 1987, a 7.8 pct increase over sales of 501.8 mln dlrs\nfor the comparable period a year ago.\n For the nine-weeks of its current fiscal year through April\n4, the company said sales were 965.8 mln dlrs, a 7.5 pct\nincrease over 898.2 mln dlrs for the comparable period last\nyear.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:18:07.33",
"places": [
"usa"
],
"id": "15555"
},
{
"title": "LEAD PRICES RISE ON FINELY BALANCED PHYSICALS",
"body": "Lead prices have risen this week against\na background of a finely balanced physical sector, traders\nsaid.\n Further gains are possible if the USSR steps up its buying\nor if labour problems develop in North America, they added.\n London Metal Exchange (LME) prices are unusually buoyant at\na time of year when seasonal demand is normally slackening and\nprices tending to drift lower.\n This buoyancy is generally attributed by traders to the low\nlevel of LME stocks and steady, if unspectacular, physical\ndemand in the Northern Hemisphere finding supplies curtailed.\n The supply problems are not new but are beginning to be\nfelt by a market in which, as peak winter demand tails off,\nstocks usually build fast and availability increases, traders\nsaid.\n The lower supply levels result from a number of different\nfactors around the globe.\n Delayed shipments from Peru to Mediterranean countries\nbecause of production and transport problems, lack of Spanish\nexports since the closure last year of Cia La Cruz's smelter at\nLinares and lower output in Morocco and Greece have all meant\nadditional demand being directed to merchants who in turn have\nbeen drawing on LME stocks.\n In addition Broken Hill Associated Smelters' Port Pirie,\nSouth Australia, smelter is halting production for five weeks\nfor maintenance. Although the company said it would meet\ncommitments, this will put further pressure on stocks.\n And the U.S. Company Doe Run has kept its 140,000 tonnes\nper year Boss, Montana smelter closed. This cut producer stocks\nand contributed to a closer supply/demand balance within the\nU.S. Market, for many years depressed by surplus production and\na regular supplier to the world market.\n Mexican supplies, which have sometimes swelled LME stocks,\nhave been normal but are finding ready buyers, traders said.\n On the demand side, winter battery manufacture has held up\nquite well and some U.S. Buying of lead sheet has been reported\nin the U.K. Soviet lead buying, notably absent in Europe in the\nfirst two months of the year, was resumed when a large buying\norder was filled by merchants in March.\n Merchant demand has fuelled the rise in LME lead prices\nthis week and has seen cash metal move above 320 stg and\nestablish a premium of around 10 stg over three months\ndelivery. Specific demand has been directed towards metal in\nGothenburg and Trieste warehouses. Gothenburg material is often\na target for merchants shipping to the USSR, traders said.\n On stocks, the popular LME Continental warehouses, Antwerp\nand Rotterdam, have little more than 3,000 tonnes of lead each,\nand this is believed to be in strong hands.\n Out of a total 22,125 tonnes in LME stocks, the lowest\nlevel since June 1980, just over half is in U.K. Warehouses\nwhich are not popular with merchants putting together\nshipments.\n But even U.K. Stocks have dropped around 6,000 tonnes since\nthe start of the year. Traders said this is partly due to\nsecondary smelters buying ingots to supplement feed supplies\naffected by environmental controls, which put restrictions on\nthe transport of used batteries.\n Labour negotiations in North America will play an important\npart in determining the direction of prices, with contracts\nexpiring end-April at Cominco's Trail and Kimberley, B.C.,\nMine/smelter and at Doe Run's Herculaneum, Mo, smelter.\n Noranda's New Brunswick mine/smelter also has a contract\nexpiry in July which may cause some nervousness in view of\nstrikes by its zinc and copper workers over recent months.\n Traders said LME three months delivery, already attracting\nspeculative buying, could rise to 320/330 stg on current\nfirmness, while nearby tightness could widen the cash premium\nto 20 from four. Three months was quoted at 313 stg at\nmidsession.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:18:18.64",
"topics": [
"lead"
],
"places": [
"uk"
],
"id": "15556"
},
{
"title": "F. W. WOOLWORTH <Z> MARCH SALES UP 0.2 PCT",
"body": "F. W. Woolworth Co said sales for the\nfive weeks ended april 4 rose 0.2 pct to 591 mln dlrs from 590\nmln dlrs.\n Domestic sales decreased 4.4 pct to 355 mln dlrs from 371\nmln dlrs and foreign sales, expressed in U.S. dlrs, rose 7.9\npct, the company said.\n If foreign exchange rates had remained constant, foreign\nsales would have decreased 4.0 pct and total sales 4.2 pct, it\nsaid.\n For the nine weeks, total sales rose 4.3 pct to 1.01\nbillion from 964 mln dlrs.\n Domestic sales of 604 mln dlrs were unchanged and foreign\nsales, expressed in dlrs, increased 11.4 pct from the year\nearlier period. If foreign exchange rates were constant,\nforeign sales would have decreased 1.0 pct and total sales 0.4\npct, the company said.\n \"As anticipated, March sales were lackluster in our\nseasonally sensitive businesses due to Easter's being three\nweeks later this year than last,\" the company said in a\nstatement.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:18:31.61",
"places": [
"usa"
],
"id": "15557"
},
{
"title": "REXHAM CORP <RXH> 1ST QTR NET",
"body": "Shr 70 cts vs 42 cts\n Net 2,918,000 vs 1,746,000\n Sales 68.3 mln vs 53.5 mln\n NOTE: 1987 net includes pretax gain 400,000 dlrs from\nchange in pension accounting.\n 1987 results include Production Graphics Corp and Systems\nTechnology and Weapons System Test Divisions of NEw Technology\nInc, acquired December 30, 1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:19:41.72",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15558"
},
{
"title": "FIRST EASTERN CORP <FEBC> 1ST QTR NET",
"body": "Shr 50 cts vs 47 cts\n Net 3,445,000 vs 3,193,000\n NOTE: Share adjusted for two-for-one stock split in January\n1987.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:21:05.94",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15559"
},
{
"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 30-174 days 5.00 pct 5.00 pct 30-87 days\n 175-190 days 5.85 pct 5.82 pct 88-103 days\n 191-270 days 5.00 pct 5.00 pct 104-179 days\n 271-288 days 5.92 pct 5.85 pct 180-205 days\n 289-360 days 5.00 pct 5.00 pct 206-360 days\n \n Reuter\n\u0003",
"date": " 9-APR-1987 10:21:12.37",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "15560"
},
{
"title": "ANCHOR FINANCIAL <AFCX> TO MAKE ACQUISITION",
"body": "Anchor Financial Corp said it\nhas agreed to acquire Waccamaw State Bank of Surfside Beach,\nS.C., in an exchange of 1.435 Anchor shares for each Waccamaw\nshare, subject to regulatory and shareholder approvals.\n Waccamaw had assets of 22.8 mln dlrs as of March 31.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:21:36.16",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15561"
},
{
"title": "STOLTENBERG NOT SURPRISED BY DOLLAR REACTION",
"body": "West German Finance Minister Gerhard\nStoltenberg said he was not surprised by the overnight decline\nof the dollar in foreign exchange markets.\n Speaking briefly with reporters before entering a meeting\nof the International Monetary Fund he said, \"These minor\nmovements don't really affect us.\"\n The dollar declined in the initial reaction to a statement\nby the Group of Seven industrial countries reaffirming their\nParis agreement in February to maintain their currencies around\ncurrent levels.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:22:53.01",
"topics": [
"dlr"
],
"organisations": [
"imf"
],
"places": [
"usa",
"west-germany"
],
"id": "15562"
},
{
"title": "ASARCO UPS U.S. LEAD PRICE 0.50 CT TO 26.50 CTS",
"body": "Asarco Inc said it is increasing its\nbase spot sales price for refined lead by one-half cent to\n26.50 cents a lb, FOB, delivered in carload lots, effective\nimmediately.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:23:50.87",
"topics": [
"lead"
],
"places": [
"usa"
],
"id": "15563"
},
{
"title": "FRANCE PLANS TO COVER SOCIAL SECURITY DEFICIT",
"body": "French government ministers will meet next\nTuesday to discuss measures to cover the state Social Security\nFund's deficit before the summer, Prime Minister Jacques\nChirac's social affairs adviser, Marie-Helene Berard, said.\n Employment Ministry officials say the fund, in surplus\nuntil 1985, faces a 24 billion franc deficit by the end of this\nyear, largely because of rising unemployment. Budget Minister\nAlain Juppe said the fund needed more resources and a\nmanagement overhaul. The government was not in favour of\nintroducing an additional tax to fund the deficit as did the \nprevious socialist administration between 1982 and 1985, he\nsaid.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:25:04.55",
"places": [
"france"
],
"id": "15564"
},
{
"title": "E.F. HUTTON <EFH> UNIT'S PUROLATOR OFFER EXPIRES",
"body": "E.F. Hutton LBO Inc said the tender\noffer by its wholly owned unit, PC Acquisition Inc, for\nPurolator Courier Corp <PCC> expired at 2400 EDT yesterday\nwithout the purchase of any Purolator common stock.\n Hutton added that PC Acquisition also terminated its merger\nagreement with Purolator.\n Hutton said the offer, which had been conditioned upon the\ntender of at least 5,116,892 Purolator shares, or about\ntwo-thirds of the outstanding shares, was terminated because\nthe minimum number of shares was not tendered.\n Purolator had entered into a definitive agreement with PC\nAcquisition, part-owned by E.F. Hutton LBO Inc, a unit of E.F.\nHutton, and some officers of Purolator's U.S. courier division,\nin which PC offered to purchase 6,332,471 Purolator common\nstock shares for 35 dlrs a share.\n Following that move, PC Acquisition planned to merge a\nsubsidiary into Purolator, converting all outstanding Purolator\ncommon it did not own into an aggregate 46 mln dlrs principal\namount of 12 pct guaranteed debentures due 2002 and warrants to\npurchase 15 pct of a Purolator unit comprised of Purolator's\nU.S courier operations.\n Hutton said as of 2400 EDT yesterday about 181,000 shares\nof Purolator common stock, or about 2.4 pct of the outstanding\nshares, had been validly tendered and not withdrawn.\n PC Acquisition has instructed its depository for the offer\nto return promptly the Purolator stock deposited by, or on\nbehalf of, tendering shareholders, Hutton said.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:25:12.80",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15565"
},
{
"title": "ABBOTT LABORATORIES 1ST QTR NET SHR 62 CTS VS 52 CTS\n",
"date": " 9-APR-1987 10:25:21.51",
"topics": [
"earn"
],
"id": "15566"
},
{
"title": "INDIA FOODGRAIN TARGET 160 MLN TONNES IN 1987/88",
"body": "India's national foodgrain target has\nbeen fixed at 160 mln tonnes in 1987/88 (Apr-Mar), unchanged\nfrom the 1986/87 target, the Agriculture Ministry said in its\nannual report for 1986/87.\n Actual output was estimated at 151 mln tonnes in 1986/87\ndue to failure of monsoon rains in 15 out of 35 meterological\nsub-divisions of the country.\n The report gave the targets for various crops with\nestimated harvested crops in 1986/87 in brackets as following,\nin mln tonnes - rice 65 (60), wheat 49 (49), coarse grains\nincluding sorghum and millets 32 (29) and pulses 14 (13).\n Despite failure of monsoon rains in recent years, it was\npossible to maintain higher foodgrain production, signifying\ngrowing resilience in agricultural sector, the report said.\n The strategy for increasing irrigation potential along with\ngreater use of high yielding seed varieites and improvement in\nfertiliser efficiency is yielding results, it said, adding\ntotal foodgrain output in 1985/86, 1984/85 and 1983/84\nrespectively was 150.5 mln tonnes, 145.5 mln and a record 152.4\nmln.\n India has targeted to produce between 178 and 183 mln tonnes\nof foodgrains by the last year of the seventh five-year\ndevelopment plan ending March 31, 1990.\n Taking the midpoint of 180 mln tonnes as the target and the\n1986/87 estimated production of around 151 mln tonnes, the gap\nof 29 mln tonnes has to be made up during the remaining three\nyears of the plan by increasing grain output annually by more\nthan nine mln tonnes. But the target can be achieved only with\ngood weather, the report said.\n \"The major thrust programme will, therefore, be better water\n(irrigation) management. Simultaneously, efforts for spread of\nimproved technology including timely use of inputs (farm\nmaterials like fertilisers) in adequate quantities have to be\nvigrously pursued,\" it said.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:27:33.19",
"topics": [
"grain",
"rice",
"wheat",
"sorghum"
],
"places": [
"india"
],
"id": "15567"
},
{
"title": "CERTIFICATED COTTON STOCKS",
"body": "Certificated cotton stocks deliverable\non the New York Cotton Exchange No 2 cotton futures contract as\nof April 8 were reported at 34,661 bales, down 421 bales from\nthe previous day's figure. There were no bales awaiting review\nand 1,218 bales awaiting decertification.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:27:43.96",
"topics": [
"cotton"
],
"places": [
"usa"
],
"id": "15568"
},
{
"title": "REICHHOLD CHEMICAL <RCI> SETS ANTI-TAKEOVER PLAN",
"body": "Reichhold Chemical Inc said its\nboard adopted a warrant dividend plan in which one preferred\nstock purchase right will be distributed as a dividend on each\ncommon share outstanding.\n The company said its warrant dividend plan is designed to\nprotect its shareholders against unsolicted, coercive attempts\nto aquire control without making an adequate offer for all\nshares.\n Reichhold said the adoption is not a response to any\nspecific takeover attempt.\n Reichhold said each right will entitle shareholders to buy\none one-hundreth of a share of a newly created series of\npreferred stock at an initial exercise price of 120 dlrs, with\ndividend and voting rights approximately equal to those of one\nshare of the company's common stock.\n The rights will be exercisable only if, without Reichhold's\nprior consent, a person or group a acquires 20 pct or more of\nthe voting power or announces a tender offer which would result\nin 20 pct ownership, the company said.\n Reichhold said it is entitled to redeem the rights at five\ncts apiece before a 20 pct position has been acquired, or\nbefore an existing 20 pct shareholder buys an additional two\npct or more of the voting power of the company, or in\nconnection with certain transactions afterward.\n The tax-free distribution will become effective May 1,\n1987, and will expire 10 years later, the company said.\n Details of the plan are outlined in a letter to be mailed\nto stockholders.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:28:23.58",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15569"
},
{
"title": "ABBOTT LABORATORIES INC <ABT> 1ST QTR NET",
"body": "Shr 62 cts vs 52 cts \n Net 142.0 mln vs 123.0 mln\n Sales 1.00 billion vs 865.0 mln\n\n Reuter\n\u0003",
"date": " 9-APR-1987 10:28:40.30",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15570"
},
{
"title": "HANSON <HAN> TO BUY INT'L PROTEIN <PRO> STOCK",
"body": "International Proteins Corp said\nit has agreed to sell in a private placement 330,000 common\nshares at 11.75 dlrs a share to a U.S. subsidiary of Hanson\nTrust Plc.\n In addition, David Clarke the president of another Hanson\nTrust subsidiary, Hanson Industries, will be named chairman of\nInternational Proteins's executive committee upon his election\nto the board at the annual meeting.\n International Proteins recently acquired Clarke's family\nbusiness, Great South Beach Sales Co, for 900,000 restricted\ncommon shares of which 350,000 have been issued to date.\n International Proteins said its agreement with Hanson Trust\nis subject to stockholder approval at the annual meeting which\nis expected to be held in June.\n The company said Hanson Trust is purchasing the stock for\ninvestment purposes, adding the agreement includes restrictions\non purchase or sale of the company by Hanson for the next five\nyears.\n International Proteins said it will use the proceeds to\nexpand domestic operations.\n The company has about 2.1 mln shares outstanding. \n \n Reuter\n\u0003",
"date": " 9-APR-1987 10:29:46.26",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15571"
},
{
"title": "EGYPT BUYS PL 480 WHEAT FLOUR - U.S. TRADERS",
"body": "Egypt bought 125,723 tonnes of U.S.\nwheat flour in its PL 480 tender yesterday, trade sources said.\n The purchase included 51,880 tonnes for May shipment and\n73,843 tonnes for June shipment. Price details were not\navailable.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:30:30.68",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"egypt"
],
"id": "15572"
},
{
"title": "SPAIN HAS 35 MLN DLR CURRENT SURPLUS FEBRUARY",
"body": "Spain had a 35 mln dlr current account\nsurplus in February compared with a 68 mln dlr surplus in\nJanuary and a 355 mln dlr surplus in February last year, Bank\nof Spain figures show.\n Spain's trade deficit narrowed to 581 mln dlrs compared\nwith 664 mln dlrs in January but the large increase in non-oil\nimports contributed to the substantial increase over the 159\nmln dlr deficit registered in February 1986.\n Exports at 2.58 billion dlrs were up 19 pct compared with\nFebruary last year, but imports were 46 pct higher than last\nFebruary, totalling 3.16 billion dlrs.\n Non-oil imports totalled 2.79 billion dlrs compared with\n1.91 billion in February last year, reflecting the large\nammount of investment goods entering the country with the\nrecovery of the Spanish economy, the Bank of Spain said.\n Spain's tourism earnings continued to grow and totalled 655\nmln dlrs in February, compared with 103 mln dlrs in January and\n502 mln dlrs in February last year.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:31:04.89",
"topics": [
"bop"
],
"places": [
"spain"
],
"id": "15573"
},
{
"title": "INDIA OILSEED OUTPUT FORECAST TO RISE",
"body": "India's oilseed output is expected to\nrise to 12.25 mln tonnes in 1986/87 ending October, up on 11.15\nmln in 1985/86 but down from 12.95 mln harvested in 1984/85,\nthe Agriculture Ministry's 1986/87 report said.\n But the forecast for 1986/87 is well below a target of 14.8\nmln tonnes fixed for the year, it said, adding bad weather hit\ngroundnut and other oilseed crops.\n The National Oilseeds Development Program will invest 300\nmln rupees in 1986/87 on supplying improved high-yielding seeds\nand other support services to help boost production, it added.\nIndia imports about 1.2 mln tonnes of edible oils a year.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:32:48.71",
"topics": [
"oilseed",
"groundnut"
],
"places": [
"india"
],
"id": "15574"
},
{
"title": "EXXON <XON> SOUTH AFRICAN UNIT ACQUIRED BY ZENEX",
"body": "<Zenex Oil Pty Ltd> said it\nacquired the interests of Esso South Africa, the local\nsubsidiary of Exxon Corp <XON), and will use up to 20 mln rand\nin profits to finance educational and social programs.\n The profit scheme will begin after Zenex has paid Exxon an\nundisclosed purchase price for Esso, Zenex chairman John\nTruscott said in a statement.\n The acquisition follows the Exxon withdrawal from South\nAfrica announced last December.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:36:05.26",
"topics": [
"acq"
],
"places": [
"south-africa"
],
"id": "15575"
},
{
"title": "UK, FRANCE TO URGE DEBT RELIEF FOR POOREST LANDS",
"body": "Britain, France and other European\nnations will make a strong plea in high-level meetings today\nfor urgent debt relief for the very poorest countries, European\nmonetary sources said.\n The request will be put to the International Monetary\nFund's policy-making Interim Committee, which meets here as\npart of semi-annual IMF and World Bank talks.\n But it is likely to run into opposition from the United\nStates, which regards debt relief, even for the world's poorest\nnations in Sub-Saharan Africa, with distaste.\n \"If all creditors agreed, (Britain and France) would be\nprepared to consider below market interest rates \" for the\ncountries, one source said.\n A senior U.S. Treasury official poured cold water on the\nplan earlier this week, however. \"We are not willing to enter\ninto arrangements that would forgive debt or provide\nconcessional interest rates,\" the official said.\n At the heart of the American objection is the fear that\nonce such a concession is made for the very poorest nations,\nthen sooner or later Latin debtors will be demanding similar\nrelief.\n African nations owe foreign creditors, most of them\ngovernments, over 70 billion dlrs. Over 21 billion dlrs is debt\nowed by poorest Sub-Saharan African nations.\n In addition to interest rate concessions, the sources said\nEuropean countries wanted repayment of these loans to be\nstretched out for up to 20 years, with a substantial delay\nbefore capital repayments start.\n The issue was inconclusively discussed in yesterday's\nmeetings of the major industrial nations -- the United States,\nJapan, West Germany, Britain, France, Italy and Canada.\n It is already under consideration by the Paris Club of\nwestern creditor nations, to which the United States belongs.\n \"There are quite obviously differences about it,\" one source\nsaid of the American attitude. \"But it is perfectly clear that\n(debt repayment) is an abiding problem for a small number of\nthe poorest countries.\"\n The plan would also involve the conversion of bilateral aid\nto these countries into outright grants, a policy already\nadopted by Paris and London.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 10:38:57.84",
"organisations": [
"imf",
"worldbank"
],
"places": [
"usa",
"france",
"uk"
],
"id": "15576"
},
{
"title": "COMMONWEALTH EDISON <CWE> FILES DEBT OFFER",
"body": "Commonwealth Edison Co filed with the\nSecurities and Exchange Commission for the sale of 375 mln dlrs\nin first mortgage bonds.\n It said the proceedings would be used to discharge or\nrefund outstanding obligations.\n No underwriter was named.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:39:23.18",
"places": [
"usa"
],
"id": "15577"
},
{
"title": "SALLIE MAE ADJUSTS SHORT-TERM DISCOUNT NOTE RATES",
"body": "The Student Loan Marketing\nAssociation said its rates on short-term discount notes were as\nfollows:\n MATURITY NEW RATE OLD RATE MATURITY\n 5-14 days 5.80 pct 5.75 pct 5-14 days\n 15-360 days 5.00 pct 5.00 pct 15-85 days\n 5.80 pct 86-91 days\n 5.00 pct 92-176 days\n 5.83 pct 177-183 days\n 5.00 pct 184-360 days\n Reuter\n\u0003",
"date": " 9-APR-1987 10:39:52.56",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "15578"
},
{
"title": "FREDDIE MAC ADJUSTS SHORT-TERM DISCOUNT RATES",
"body": "The Federal Home Loan Mortgage Corp\nadjusted the rates on its short-term discount notes as follows:\n MATURITY RATE OLD RATE MATURITY\n 33 days 6.00 pct 6.00 pct 33 days\n \n Reuter\n\u0003",
"date": " 9-APR-1987 10:40:26.19",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "15579"
},
{
"title": "ARGENTINE GRAIN BELT WEATHER REPORT",
"body": "ARGENTINE GRAIN BELT TEMPERATURES\n(CENTIGRADE) AND RAIN (MM) IN THE 24 HOURS TO 12.00 GMT WERE:\n ...............MAX TEMP..MIN TEMP..RAINFALL\n BUENOS AIRES.......24.......12............0\n BAHIA BLANCA.......22........7............0\n TRES ARROYOS.......22........8............0\n TANDIL.............22........7............0\n JUNIN..............24.......11............0\n SANTA ROSA.........--........6............0\n CORDOBA............23.......12............1\n SANTA FE...........21.......18...........17 REUTER\n\u0003",
"date": " 9-APR-1987 10:40:33.86",
"topics": [
"grain"
],
"places": [
"argentina"
],
"id": "15580"
},
{
"title": "VW SAYS 480 MLN MARKS MAXIMUM FOR CURRENCY LOSSES",
"body": "Losses for Volkswagen AG\n<VOWG.F>, VW, linked to an alleged foreign currency fraud will\nnot exceed the 480 mln marks provision already made, a VW\nspokesman said.\n The spokesman was commenting after VW had confirmed it\nwould pay an unchanged 10 mark dividend for ordinary shares on\n1986 business, despite the provision.\n One West German newspaper today quoted foreign currency\ndealers in Frankfurt as speculating that the total losses from\nthe currency affair could be as high as 1.5 billion marks, but\nthe VW spokesman described 480 mln marks as an \"upper limit.\"\n VW said in a statement following today's supervisory board\nmeeting that it had discussed the foreign currency scandal in\ndetail, and was setting up a new probe into its foreign\ncurrency activities to be carried out by an unnamed auditing\ncompany.\n VW has said computer programs were erased and documents\nwere faked in the alleged fraud in which it believes\ntransactions intended to protect it against possible foreign\ncurrency losses were not completed.\n VW's former foreign currency chief Burkhard Junger was\narrested on Monday on suspicion of embezzlement and of having\nevaded justice.\n Earlier VW had said that its 1986 results would match 1985\nprofits. VW's group net profit in 1985 was 596 mln marks and\nparent company net was 477 mln marks. It also said it recommend\nan unchanged dividend to the supervisory board. The company has\nalso set a dividend of 11 marks for new preference shares,\nwhich were issued last year. Analysts have described the held\ndividend as a move to reassure worried shareholders.\n VW increased nominal capital by 300 marks last year to 1.5\nbillion marks, with the result that its total dividend payment\non 1986 will be 306 mln marks compared with 240 mln on 1985,\nsince the new capital was in preference shares.\n The share analysts say VW will have to dig into reserves in\norder to maintain the disclosed 1986 profit at 1985 levels. At\nthe end of 1985, VW had parent company reserves of slightly\nless than three billion marks.\n REUTER\n\u0003",
"date": " 9-APR-1987 10:40:55.74",
"topics": [
"earn"
],
"places": [
"west-germany"
],
"id": "15581"
},
{
"title": "YUGOSLAVIA TO TENDER FOR 100,000 TONNES WHEAT",
"body": "Yugoslavia will tender April 14 for\n100,000 tonnes of wheat, the U.S. Agriculture Department's\nCounselor in Belgrade said in a field report.\n The report, dated April 7, said the wheat must be from 1986\nand 1987 harvest, and imports of soft wheat from Europe and\nfrom other suppliers will not be considered.\n It said the imports will be used to rebuild the federal\nreserves and as a result will not be subject to import\nsurcharges.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:44:42.54",
"topics": [
"wheat",
"grain"
],
"places": [
"usa",
"yugoslavia"
],
"id": "15582"
},
{
"title": "FEDERATED DEPARTMENT STORES MARCH SALES UP 4.9 PCT\n",
"date": " 9-APR-1987 10:46:14.86",
"topics": [
"earn"
],
"id": "15583"
},
{
"title": "PRICES GENERALLY LOWER AT NAIROBI COFFEE AUCTION",
"body": "Prices were lower at this week's coffee\nauction for all grades and qualities except better quality AB\ngrades, which held steady, the Coffee Board of Kenya said.\n The board said it offered 35,000 bags and sold 32,876.\n So far this coffee year, Kenya has sold 918,707 bags to all\nmarkets, of which 326,182 are for the 1986/7 pool, with an\noverall average price of 41,500 shillings a tonne, it added.\n The board will offer 35,000 bags at its next auction on\nApril 14.\n BAGS PRICE PER 50 KG\n OFFERED SOLD AVERAGE\n PB 430 430 2304.78 (2267.21)\n AA 7289 6834 2292.92 (2358.96)\n AB 12664 11895 2289.99 (2291.13)\n C 3198 2867 2073.15 (2107.64)\n T 876 876 1508.79 (1510.67)\n TT 1375 1375 2053.25 (2095.64)\n E 159 159 2250.19 (2252.18)\n MISC 9009 8440 1409.50 (1398.60)\n TOTAL 35000 32876 AVERAGE FOR SALE 2014.93 (1994.94)\n Reuter\n\u0003",
"date": " 9-APR-1987 10:46:32.50",
"topics": [
"coffee"
],
"places": [
"kenya"
],
"id": "15584"
},
{
"title": "ALEX. BROWN <ABSB> SETS SPLIT, TO OFFER SHARES",
"body": "Alex. Brown Inc said it has declared a\nthree-for-two stock split, payable May 29, record May 22.\n The company also said it has filed to offer 912,000 common\nshares, including 162,000 to be sold by a shareholder, with\ncompany proceeds to be used for working capital and general\ncorporate purposes. Its Alex. Brown and Sons Inc subsidiary is\nlead underwriter.\n The offering is expected to be made before the record date\nof the split, the company said.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:47:44.16",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15585"
},
{
"title": "JAMESWAY <JMY> MARCH SALES UP 15 PCT",
"body": "Jamesway Corp said sales for the\nfive weeks ended April Four were up 15 pct to 54.1 mln dlrs\nfrom 47.1 mln dlrs a year before, with same-store sales up four\npct.\n The company said sales for the first nine weeks of its\nfiscal year were up 14 pct to 85.8 mln dlrs from 75.1 mln dlrs\na year before, with same-store sales up four pct.\n It noted that Easter sales will fall in April this year,\ninstead of March as last year.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:48:33.33",
"places": [
"usa"
],
"id": "15586"
},
{
"title": "FEDERATED DEPARTMENT STORES <FDS> MARCH SALES UP",
"body": "Federated Department Stores Inc said\nsales for the five weeks ended April Four were up 4.9 pct to\n934.9 mln dlrs from 891.6 mln dlrs a year before.,\n The company said sales for the first two months of its\nfiscal year were up 6.8 pct to 1.65 billion dlrs from 1.55\nbillion dlrs a year before.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:49:45.65",
"places": [
"usa"
],
"id": "15587"
},
{
"title": "ZAYRE <ZY> MARCH SALES UP 12.7 PCT",
"body": "Zayre Corp said sales for the\nfive weeks ended April Four were up 12.7 pct to 522.3 mln dlrs\nfrom 463.5 mln dlrs a year before.\n The company said sales for the first nine weeks of its\nfiscal year were up 17.4 pct to 849.3 mln dlrs from 723.7 mln\ndlrs a year before.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:50:04.69",
"places": [
"usa"
],
"id": "15588"
},
{
"title": "AMR <AMR> UP ON SMITH BARNEY OPINION",
"body": "AMR Corp, the parent of American\nAirlines, rose sharply in active trading after analyst Roland\nMoreno of Smith Barney upgraded his opinion of the stock to buy\nfrom accumulate and added it to the brokerage house's\nrecommended list, traders said.\n AMR climbed 1-3/8 to 55-5/8.\n A spokeswoman for Smith Barney said the recommendation was\nmade because the airline group looks cheap relative to the\nbroad market and the analyst feels AMR is the best in the\ngroup.\n In a related action, Moreno downgraded his opinion of UAL\nInc <UAL> to accumulate from buy and took it off the firm's\nrecommended list, Smith Barney's spokeswoman said. The stock\nslipped 1/2 to 71-1/2 on volume of 1.3 mln shares.\n She said the Moreno's downgrade of UAL was because the\n\"stock had risen to a level beyond what current fundamentals\ncan support.\" The stock has risen more on merger speculation\nthan on fundamentals, the opinion continued.\n In recent weeks, rumors UAL stock was being accumulated for\na possible takeover bid shored up the stock, traders and\nanalysts said. In addition, pilots of UAL's United Airlines\nunit proposed a buyout of the airline for 4.5 billion dlrs.\n The Smith Barney spokeswoman said the postive\nrecommendation of AMR emphasizes the company's strong marketing\nability, its good management and customer loyalty to the AMR\nname. She said the company has been the best financial\nperformer of the airline group.\n The AMR recommendation includes earnings expectations of\n4.35 dlrs a share in 1987 as compared to earnings of 4.63 dlrs\na share last year, the spokeswoman said. In 1988, the company\nis expected to earn six dlrs a share.\n Traders said other airline stocks moved higher today\nprimarily as a result of fare hikes announced Wednesday by\nTexas Air <TEX>, United Airlines and AMR.\n Delta <DAL> rose 1/2 to 56-7/8, NWA Inc <NWA> 3/8 to 66,\nand Pan Am <PN> 1/8 to 4-5/8.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:50:22.80",
"places": [
"usa"
],
"id": "15589"
},
{
"title": "HIGHLAND SUPERSTORES INC <HIGH> 4TH QTR NET",
"body": "Period ended Jan 31\n Shr 38 cts vs 61 cts\n Net 7,012,000 vs 11,193,000\n Revs 223.0 mln vs 200.3 mln\n Year\n Shr 1.11 dlrs vs 1.36 dlrs\n Net 20,214,000 vs 23,602,000\n Revs 656.5 mln vs 520.5 mln\n Avg shrs 18,257,631 vs 17,376,480\n Reuter\n\u0003",
"date": " 9-APR-1987 10:50:33.97",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15590"
},
{
"title": "LVI GROUP <LVI> TO MAKE ACQUISITION",
"body": "LVI Group Inc said it has agreed in\nprinciple to purchase all outstanding shares of <Spectrum\nHolding Corp> for a proposed 13 mln dlrs in cash.\n LVI said an additional 10 mln dlrs in common stock and\nseven mln dlrs in notes will become payable if Spectrum has\ncertain minimum future earnings.\n LVI, an interior construction firm, said the acquisition is\nsubject to execution of a definitive agreement and completion\nof due diligence.\n LVI and Spectrum, an asbestos abatement concern, expect to\nclose the deal in June, LVI said.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:50:41.65",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15591"
},
{
"title": "MACGREGOR <MGS> UNIT FILES TO OFFER SHARES",
"body": "MacGregor Sporting Goods\nInc said its wholly-owned MacGregor Team Sports Inc subsidiary\nhas filed for an initial public offering of two mln common\nshares at an expected price of 11 to 14 dlrs a share.\n The company said after the offering it would continue to\nown 8,800,000 shares or at least an 80 pct interest, since\nMcGregor Team Sports has granted underwriters an option to buy\nanother 200,000 shares to cover overallotments.\n E.F. Hutton Group Inc <EFH> is lead underwriter.\n The company said proceeds will be uysed to reduce debt.\n The company said MacGregor Team Sports consists of its\nRiddell Inc football helmet producing unit, its Sports\nSpecialties Corp sport cap distributing unit and Equilink\nLicensing Corp, which licenses MacGregor trademarks.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:50:59.53",
"places": [
"usa"
],
"id": "15592"
},
{
"title": "TEXAS AMERICAN <TAE> OMITS PREFERRED PAYOUT",
"body": "Texas American Energy Corp said\nits board has decided to again omit the quarterly dividend on\nits 2.575 dlr cumulative convertible exchangeable preferred\nstock.\n The dividend would have been payable May One. The company\nlast paid 64.3 cts a share on the issue in August 1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:51:18.84",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15593"
},
{
"title": "VORNADO INC <VNO> 4TH QTR JAN 31 NET",
"body": "Shr 1.64 dlrs vs 1.56 dlrs\n Net 4,583,000 vs 5,313,000\n Revs 20.1 mln vs 19 mln\n Avg shrs 2.8 mln vs 3.4 mln\n Year\n Shr 5.06 dlrs vs 5.92 dlrs\n Net 16 mln vs 20.3 mln\n Revs 74.6 mln vs 68 mln\n Avg shrs 3.2 mln vs 3.4 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 10:51:23.69",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15594"
},
{
"title": "BRENDA MINES SELLING KERR ADDISON SHARES",
"body": "<Brenda Mines Ltd> said it sold\n2,830,390 <Kerr Addison Mines Ltd> shares to a group of\nunderwriters led by Wood Gundy Inc and Brown, Baldwin Nisker\nLtd for redistribution.\n Financial terms were undisclosed.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:51:40.15",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15595"
},
{
"title": "PHOENIX FINANCIAL <PHFC> BUYS DATA ACCESS STAKE",
"body": "Data Access Systems Inc said\nchairman David Cohen has sold 1,800,000 common shares to\nPhoenix Financial corp for undisclosed terms and resigned as\nchairman and chief executive officer.\n The company said Phoenix Financial now has a 27 pct\ninterest in Data Access and effective control.\n Data Access said Phoenix chairman Martin S. Ackerman has\nbeen named chairman of Data Access as well and two other\nPhoenix representatives have been named to the Data Access\nboard. It said four directors other than Cohen have resigned\nfrom the board.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:52:13.14",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15596"
},
{
"title": "HEALTH AND REHABILITATION <HRP> INITIAL PAYOUT",
"body": "Health and Rehabilitation\nProperties Trust said it declared an intitial dividend of 55\ncts per share for the period ending March 31, 1987\n The dividend will be payed May 20 to shareholders of record\non April 20, the company said.\n The company said it organized in late 1986 and closed its\nintitial public offering of shares Dec 23, 1986.\n The initital dividend includes five cts attributable to the\nperiod between Dec 23 and 31, 1986, and 50 cts attributable to\nthe first qtr of 1987, ending March 31, 1987.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:52:23.56",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15597"
},
{
"title": "T. ROWE PRICE <TROW> SEES HIGHER FIRST QUARTER",
"body": "T. Rowe Price Associates said its\nfirst quarter earnings rose about 50 pct from the year-ago\n2,634,000 dlrs and revenues about 30 pct from the year-ago 24.2\nmln dlrs.\n It said it expects \"very good\" earnings and revenue growth\nthis year. In 1986 it earned 14.8 mln dlrs on revenues of\n111.1 mln dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:52:28.98",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15598"
},
{
"title": "CRAY <CYR> GETS 6.6 MLN DLRS ORDER FROM BP <BP>",
"body": "Cray Research Inc said\nBritish Petroleum ordered a CRAY X-MP/24 supercomputer valued\nat about 6.6 mln dlrs.\n The leased system will be installed at BP Exploration Co\nLtd's London headquarters in the fourth quarter of 1987,\npending export license approval, it said.\n The CRAY X-MP/24 will replace a CRAY X-MP/12 supercomputer\nin operation since 1985, it added.\n Separately, the company said that a CRAY X-MP/24 system\nvalued at 8.5 mln dlrs was installed at Lockheed Missiles and\nSpace Co.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:52:47.46",
"places": [
"usa",
"uk"
],
"id": "15599"
},
{
"title": "GENERAL PARTNERS CUTS STAKE IN GENCORP <GY>",
"body": "General Partners told the Securities\nand Exchange Commission it has reduced its stake in GenCorp Inc\nto 8.6 pct, from 9.8 pct, by selling 250,000 shares at a price\nequal to 118.5 dlrs per share.\n General Partners, which includes GC Holdings Inc and\nGeneral Acquisitions Inc, said yesterday it was dropping its\n100-dlr-a-share hostile takeover bid for GenCorp because of\nGenCorp's move to buy back its shares for up to 130 dlrs each.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:52:56.16",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15600"
},
{
"title": "HERITAGE FINANCIAL SERVICES <HERS> 1ST QTR NET",
"body": "Shr 45 cts vs 43 cts\n Net 1,503,000 vs 938,000\n Avg shrs 3,358,664 vs 2,158,664\n NOTE: Company had its initial public offering of 1,200,000\nshares in October, 1986\n Reuter\n\u0003",
"date": " 9-APR-1987 10:53:07.94",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15601"
},
{
"title": "NATIONAL COMPUTER <NLCS> SEES EARNINGS GROWTH",
"body": "National Computer Systems Inc\nexpects fiscal year earnings to improve by about 20 pct, the\ncompany told analysts, although it said the April 30 first\nquarter should show \"down earnings and virtually flat\nrevenues.\"\n Chairman Charles Oswald said National Computer has taken\nsteps to improve margins. He said revenues are expected to\nincrease modestly because of the company's decision to downsize\nits leasing business, nonrecurring revenueslast year from a\none-time Texas teacher assessment project and the impact of the\ndiscontinuance of products last year.\n Oswald said National Computer's first quarter results will\nbe down as a result of a major financial systems sales last\nyear, a higher effective tax rate and the increased number of\nshares outstanding.\n The company said the next three consecutive quarters should\ndemonstrate \"excellent earnings growth.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 10:54:31.21",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15602"
},
{
"title": "U.K. CHANCELLOR LAWSON SAYS THERE MAY BE NEED TO CUT\nINTEREST RATES IN SOME COUNTRIES\n",
"date": " 9-APR-1987 10:54:55.04",
"topics": [
"interest"
],
"places": [
"uk"
],
"id": "15603"
},
{
"title": "MOBIL'S <MOB> MARCH SALES UP THREE PCT",
"body": "Mobil Corp said sales of its Montgomery\nWard and Co subsidiary for the five weeks ended April Four rose\n3.3 pct on a comparable store basis to 332.9 mln dlrs from\n323.2 mln dlrs a year ago.\n Cumulative sales for the nine week period of February One\nthrough April Four rose 7.3 pct on a comparable store basis to\n609.6 mln dlrs from 572.2 mln dlrs.\n It said the number of stores in operation was 295, two more\nthan in the same 1986 period.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:55:26.11",
"places": [
"usa"
],
"id": "15604"
},
{
"title": "REXHAM <RXH> REPURCHASES STAKE FROM NORTEK <NTK>",
"body": "Rexham Corp said it has\nrepurchased 381,050 of its shares or 9.1 pct from Nortek Inc\nfor 42 dlrs each, and Nortek has withdrawn its proposal to\nacquire Rexham for 43 dlrs per share.\n Rexham said Nortek has also agreed not to buy Rexham shares\nor take other actions under a 10-year standstill agreement. \nThe Rexham board had rejected the Nortek bid as inadequate.\n The company also said its board has authorized the\nrepurchase in the open market or privately from time to time of\nup to an additional five pct of its own shares and the\nestablishment of an Employee Stock Ownership Plan. The plan is\nexpected to purchase from Rexham a new convertible preferred\nstock with 11.5 pct of Rexham's voting power with proceeds of a\npension plan overfunding and borrowings.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:56:15.42",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15605"
},
{
"title": "LAWSON SAYS MAJOR CENTRAL BANKS WILL INTERVENE AS AND\nWHEN NECESSARY\n",
"date": " 9-APR-1987 10:56:38.37",
"id": "15606"
},
{
"title": "EXXON <XON> CUTS HEATING OIL PRICE, TRADERS SAID",
"body": "Oil traders in the New York area said\nExxon Corp's Exxon U.S.A. unit reduced the price it charges\ncontract barge customers for heating oil in New York harbor\n0.50 cent a gallon, effective today.\n They said the reduction brings Exxon's contract barge price\nto 49.75. The price decrease follows sharp declines in heating\noil prices in the spot and futures markets, traders said.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:58:42.56",
"topics": [
"heat"
],
"places": [
"usa"
],
"id": "15607"
},
{
"title": "LAWSON SAYS IT ESSENTIAL THAT JAPAN DEVELOP DOMESTIC DEMAND\n",
"date": " 9-APR-1987 10:59:06.68",
"places": [
"japan"
],
"id": "15608"
},
{
"title": "KAPOK CORP <KPK> CURES TECHNICAL DEFAULTS",
"body": "Kapok Corp said it has cured\ntechnical defaults on laons from Southeast Banking Corp <STB>\nand Murray Steinfeld and has negotiated extensions of both\nloans.\n The company also said it has arranged a one mln dlr loan\nsecured by its Fort Lauderdale, Fla., property from Republic\nBank for Savings of Jackson, Miss., and has sold its Peter Pan\nRestaurant in Urbana, Md., for 1,100,000 dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 10:59:58.69",
"places": [
"usa"
],
"id": "15609"
},
{
"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 30-174 days 5.00 pct 5.00 pct 30-174 days\n 175-190 days 5.88 pct 5.85 pct 175-190 days\n 191-270 days 5.00 pct 5.00 pct 191-270 days\n 271-288 days 5.92 pct 5.92 pct 271-288 days\n 289-360 days 5.00 pct 5.00 pct 289-360 days\n \n Reuter\n\u0003",
"date": " 9-APR-1987 11:00:08.03",
"topics": [
"interest"
],
"places": [
"usa"
],
"id": "15610"
},
{
"title": "WEEKLY CAR PRODUCTION ESTIMATED LOWER",
"body": "With seven car assembly plants down this\nweek, including six at General Motors Corp <GM>, U.S. carmakers\nare expected to built an estimated 160,111 cars for the week\nending April 11, down from 177,687 a year ago, said the trade\npublication Ward's Automotive Reports.\n Year to date, it estimated domestic car output at\n2,334,528, down from 2,442,221 in the same 1986 period.\n It projected the weeks truck output at 80,168, up from\n72,026 a year earlier. Cumulative truck sales were pegged at\n1,096,732, up from 1,011,029 a year ago.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 11:00:17.88",
"places": [
"usa"
],
"id": "15611"
},
{
"title": "CANNON INT'L <CAN> SETS PHILIPPINES FILM PACT",
"body": "Cannon International said <Viva\nFilms International> agreed to exclusively distribute Cannon\nfilms in the Philippines for the new four years.\n The company said the agreement covers both theatrical and\nvideo distribution. Terms were not disclosed.\n\n Reuter\n\u0003",
"date": " 9-APR-1987 11:00:45.64",
"places": [
"usa",
"philippines"
],
"id": "15612"
},
{
"title": "<STRATHFIELD OIL AND GAS LTD> YEAR NET",
"body": "Shr 46 cts vs 48 cts\n Net 1,196,331 vs 1,341,314\n Revs 5,153,109 vs 7,680,350\n Reuter\n\u0003",
"date": " 9-APR-1987 11:01:08.42",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15613"
},
{
"title": "AFP IMAGING <AFPC> SEES HIGHER FISCAL 1987 SALES",
"body": "AFP Imaging Corp said it expects\nrevenues to reach about 20 mln dlrs in fiscal 1987, ending June\n31, compared with sales of 16.8 mln dlrs in fiscal 1986.\n AFP said its products have continue to gain market share in\nthe medical, dental and graphic arts industries over the past\neight months, adding that it will spend \"considerable effort\"\nnow to expand its KENRO pre-press vertical cameras and\nprocessors.\n The company, which designs and makes film processing and\ncamera equipment for the medical industry, said it plans to be\na major player in the 10 bln dlr graphics art industry through\na combination of internal growth and acquisitions.\n AFP also said it expects KENRO revenues to double during\nthe coming fiscal year.\n AFP said it is exploring the possibility of assembling and\ndistributing a line of dental chairs and operatories for an\nunnamed company in the industry. AFP said the move could expand\nits DENT-X dental x-ray processing product presence in the\ndental equipment business whilke adding more factory loading.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 11:01:22.05",
"places": [
"usa"
],
"id": "15614"
},
{
"title": "FED MAY ADD RESERVES TO BANKING SYSTEM",
"body": "The Federal Reserve may intervene in\nthe government securities market to supply temporary reserves\nindirectly via customer repurchase agreements, economists said.\n They said that while the Fed faces no great urgency to add\nreserves at the start of the two-week maintenance period today\nit would probably do so in order to offset a relatively high\nfederal funds rate.\n Fed funds opened at 6-3/16 pct and remained there in early\ntrading. Yesterday, they averaged 6.45 pct, after rising as\nhigh as seven pct at the close.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:02:11.02",
"topics": [
"money-fx",
"interest"
],
"places": [
"usa"
],
"id": "15615"
},
{
"title": "DIAMOND CRYSTAL <DSLT> MIGHT SELL SALT UNIT",
"body": "Diamond Crystal Salt Co said it\nmight sell its salt division.\n The company said it retained First Boston Corp to assist it\nwith the possible sale of the division, \"assuming a fair price\nand reasonable terms can be obtained.\"\n Diamond Crystal said sale of the unit was in the best\nlong-term interests of its shareholders.\n The company also said it incorporated its Packet Products\nDivision as of April one. The unit will be an indirect wholly\nowned subsidiary called Diamond Crystal Specialty Foods Inc.\nCurrent management of the division will remain.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:03:05.03",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15616"
},
{
"title": "LAWSON SAYS SOME COUNTRIES COULD CUT RATES",
"body": "Nigel Lawson, Britain's Chancellor of\nthe Exchequer, said some countries may need to cut interest\nrates with the aim of maintaining exchange rate stability.\n Speaking to journalists one day after the Group of Seven\ncountries reaffirmed goals set in Paris six weeks ago, he said\ncentral banks would continue to intervene \"as and when\nnecessary.\"\n He said the G-7 countries were concerned that Japan do more\nto stimulate domestic demand and welcomed measures outlined by\nJapanese Finance Minister Kiichi Miyazawa yesterday.\n Lawson said he was still worried about the risk of a\nsimultaneous recession in the United States, Japan and West\nGermany, though less so than when he gave his March 17 budget\nspeech to the British Parliament.\n \"If anything I'm a little bit less concerned, but there is\nstill a risk,\" he said.\n Asked if the United States should consider increasing\ninterest rates to support the dollar, he said, \"If there is a\nneed for changes in relative interest rates, it doesn't need to\nbe a rise in interest rates in the United States.\"\n Lawson said there was some concern expressed in yesterday's\nmeetings at the slow progress the United States had made in\nreducing its budget deficit.\n \"We believe there will be some worthwhile progress in\nreducing the deficit this year. The important thing is that it\ncontinue year after year,\" Lawson said.\n The February 22 Louvre accord called for efforts to\nstabilize currencies at then-current exchange rates. In the six\nweeks that followed the Japanese yen continued to rise against\nthe dollar despite massive central bank intervention.\n Asked whether this intervention was a sign of weakness in\nthe Louvre accord, he said, \"I don't think so. If there had been\nno intervention you would have called that a sign of weakness.\"\n Although intervention could be a cause of inflation, Lawson\nsaid, \"the world does not appear to be in an inflationary mode\n... but one has to be vigilant.\"\n He said yesterday's G-7 statement, which affirmed that\n\"current levels\" of exchange rates were appropriate, had been\n\"carefully worded.\" \"We know what we mean, and we all mean the\nsame thing,\" he said.\n Lawson said financial markets seem to believe that Japanese\nmeasures outlined in the Louvre accord were the source of\nweakness for that agreement.\n Therefore, the G-7 countries welcomed Miyazawa's\npresentation of plans for a supplemental budget to stimulate\ndomestic demand.\n They particularly welcomed the goal of an immediate\nincrease in public works spending, but Lawson said the package\nalso involved a second stage to increase expenditures during\nthe second half of this year.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:05:11.68",
"topics": [
"interest"
],
"places": [
"usa",
"uk"
],
"id": "15617"
},
{
"title": "FRENCH FREE MARKET CEREAL EXPORT BIDS DETAILED",
"body": "French operators have requested licences\nto export 320,000 tonnes of free market barley, 225,000 tonnes\nof maize, 25,000 tonnes of free market bread-making wheat and\n20,000 tonnes of feed wheat at today's EC tender, trade sources\nsaid.\n For the barley, rebates of between 138 and 141.25 European\ncurrency units (Ecus) per tonne were sought, for maize they\nwere between 129.65 and 139 Ecus, for bread-making wheat around\n145 Ecus and for feed wheat around 142.45 Ecus.\n Barley rebates of up to 138.50 Ecus were requested for a\ntotal of 40,000 tonnes and at 139 Ecus for 85,000 tonnes.\n Rebates of up to 130 Ecus per tonne were requested for a\ntotal of 55,000 tonnes maize and up to 131 Ecus for 105,000\ntonnes, the sources said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:05:49.50",
"topics": [
"grain",
"corn",
"wheat",
"barley"
],
"places": [
"france"
],
"id": "15618"
},
{
"title": "DAYTON HUDSON <DH> MARCH SALES OFF 4.9 PCT",
"body": "Dayton Hudson Corp said retail sales\nfor the five weeks ended April Four were 791.8 mln dlrs\ncompared to 755.6 mln dlrs a year ago. On a comparable store\nbasis, it said sales declined 4.9 pct.\n Sales for the nine months were 1.39 billion dlrs, up from\n1.26 billion dlrs in the same 1986 period. On a comparable\nstore basis, the sales rose 1.2 pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:07:33.90",
"places": [
"usa"
],
"id": "15619"
},
{
"title": "U.K. POTATO FUTURES TRADING NOT TO BE SUSPENDED",
"body": "Trading on the London potato futures\nmarket will not be suspended, Richard Harris, Chairman of the\nLondon Potato Futures Association (LPFA), said in a statement\nto floor members.\n It was in response to strong representations by the Potato\nMarketing Board (PMB) complaining of a gross distortion of\nprice which they say will result in large deliveries into the\nphysical market when the April futures position expires.\n The PMB had sought an immediate suspension in futures\ntrading and asked the LPFA to take action to restore the\nrelationship between futures and physicals.\n Farmers and merchants have alleged a squeeze and cornering\nof the market but Harris pointed out that recent investigations\nby the Association of Futures Brokers and Dealers (AFBD), the\nInternational Commodities Clearing House (ICCH) and other\nparties, found no evidence to substantiate this.\n The main complaint from some sections of the physical\nmarket is what they say is an unrealistic futures premium over\nthe PMB's average ex-farm price. April futures traded this\nmorning between 168 and 170 stg per tonne compared with PMB's\naverage price of 104 stg.\n Bill Englebright, joint secretary of the LPFA said there is\na two-tier market for physical potatoes. He said quality\npotatoes are in short supply and prepackers have been paying\nbetween 145 and 165 stg per tonne for best samples. But lesser\nquality grades have traded below 100 stg.\n Some merchants fear that a large tonnage will be delivered\nagainst the April futures contract between now and the end of\nthe month, and possibly disrupt the physical market.\n Harris said the LPFA rule book allows the management\ncommittee to take steps as necessary to correct any malpractice\nand he assured the committee is monitoring the situation.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:07:44.59",
"topics": [
"potato"
],
"places": [
"uk"
],
"id": "15620"
},
{
"title": "GROUP OF 10 WELCOMES LATEST G-7 AGREEMENT",
"body": "The Group of 10 developed nations\nissued a communique welcoming the reaffirmation of the Paris\naccord on currency stability by the Group of Seven leading\nindustrial democracies yesterday.\n In the communique issued this morning, the G-10 said\n\"prospects of member countries' economies would be improved by\nstability in the exchange rates of their currencies.\"\n The G-10 includes the group of seven - the United States,\nCanada, Britain, Japan, Italy, West Germany and France - plus\nBelgium, the Netherlands, Sweden and also Switzerland.\n Sources who attended the G-10 conference this morning said\nthe reference to the latest G-7 agreement was especially added\nto the brief communique because currency stability will benefit\nall the G-10 members.\n The G-10 met briefly before the International Monetary Fund\nInterim Committee meeting scheduled for today.\n.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:09:00.97",
"topics": [
"money-fx"
],
"places": [
"usa"
],
"id": "15621"
},
{
"title": "CREDIT NATIONAL ISSUES BILLION FRANC CONVERTIBLE",
"body": "Credit National is issuing a one billion\nfranc convertible bond issue in two tranches both paying 8.50\npct and in 5,000 franc units, lead managers Caisse Nationale de\nCredit Agricole, Union de Garantie et de Placement and Morgan\net Cie said.\n Both tranches will be redeemable at the end of their lives\nand both have a payment date of April 27.\n One seven year tranche will be priced at 99.94 pct. Each\nbond will be convertible on a one-for-one basis for a 8-1/2\nyear, 8.50 pct bond priced at 98.76 pct, redeemable at the end\nof its life.\n This bond will pay a first coupon of 4.25 pct on April 27\nnext year and the payment date will be October 27, 1987.\n A 13-year tranche, priced at 97.74 pct, will also be\nconvertible until October 10, 1987 on a one for one basis for a\n8.50 pct, 10-1/2 year year bond priced at 98.08 pct.\n This bond will pay a first coupon of 212.50 francs on\nOctober 27 next year and the payment date will be October 27\nthis year.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:09:18.65",
"places": [
"france"
],
"id": "15622"
},
{
"title": "CANAM MANAC WINS 8.5 MLN DLR CONTRACT",
"body": "(The Canam Manac Group Inc) said its\nCanam Steel Works unit received a contract valued at 8.5 mln\ndlrs to supply steel trusses to (Canron Inc) for a new car\nplant in Ingersoll, Ontario.\n Canam Manac said it will produce the trusses at its Quebec\nand Ontario plants and delivery will be completed by August.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:10:12.12",
"topics": [
"iron-steel"
],
"places": [
"canada"
],
"id": "15623"
},
{
"title": "SPOT TIN EASIER ON EUROPEAN FREE MARKET",
"body": "Spot tin on the European free market was\nindicated in the easier range 4,200 to 4,230 stg per tonne, for\nhigh grade metal in warehouse Rotterdam, down 20 stg from\nyesterday's afternoon kerb close.\n Stability in sterling versus the dollar continued to apply\npressure to a market which is coming close to testing a\npsychological chart support base at 4,200 stg, traders said.\n Dealers said major consumers still need to cover their May\nand June requirements but are holding out for even lower\noffers. Reported high grade tin business in London was confined\nto end April metal at 4,225 stg.\n Small-scale spot business was reported by West German\noperators at 12.60 and 12.63 marks per kilo although the market\nwas still being undercut by Chinese material, which traded at\none stage down to 12.54 marks per kilo, traders said.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:10:23.91",
"topics": [
"tin"
],
"places": [
"uk"
],
"id": "15624"
},
{
"title": "DOLLAR ENDS LOWER IN LACKLUSTRE FRANKFURT",
"body": "The dollar drifted down to end one\npfennig lower after a lacklustre session, held in limits by the\nlack of concrete news from the Group of Seven meeting and\ncomments on the edge of the Washington IMF/World Bank meeting.\n Dealers said the communique early in the European morning\nfrom the G-7 meeting contained no significant new factors and\nalthough the dollar dipped it generally resisted further\nattempts to push it lower through the day.\n The U.S. Currency ended at 1.8270/80 marks, below\nyesterday's last 1.8365/75.\n Koch said the assessment of the dollar's direction was\nbased on a global view, with operators paying most attention to\ncomments by finance officials to see how closely they stated\nadherence to international agreements such as those set at the\nPlaza Hotel in 1985 and in Paris on February 22.\n Koch described the wording of the communique from the G-7\nas \"soft as wax.\"\n Bundebank vice-president Helmut Schlesinger told Reuters in\na telephone interview that the German central bank sees no\ncurrent reason to change monetary course at present.\n Schlesinger was responding to questions following remarks\nyesterday by Bundesbank board member Claus Koehler and West\nBerlin state central bank president Dieter Hiss, which dealers\nsaid revived some speculation that German interest rate cuts\nmay be under consideration.\n German call money was slightly softer today, at around 3.70\npct after 3.80 yesterday.\n Some dealers said rates on new liquidity injections added\nvia Bundesbank securities repurchase agreements may be cut next\nweek. Hopes of a cut were dashed on Tuesday with an allocation\nat an unchanged 3.80 pct.\n But speaking of the pact tender rate next week, Schlesinger\nsaid, \"since the central bank council gives its opinion on this\ntheme only every 14 days, this is hardly probable.\"\n Euromark rates scarcely responded to the central bankers\ncomments, with six months funds ending unaltered at around\n3-7/8 pct. Eurodollars for the same maturity rose a fractional\n1/16 pct from yesterday to around 6-11/16 pct.\n Sterling dipped to end at 2.952/956 marks after 2.960/965\nlast night. The Swiss franc firmed slightly to 120.30/45 marks\nper 100 from 120.25/40, with the yen soaring however to\n1.2570/90 marks per 100 from 1.2515/35 yesterday.\n EMS currencies saw the French franc end unchanged from last\nnight at 30.03/06 marks per 100, with the Belgian franc easing\nhowever to 4.829/831 marks per 100 from 4.831/833.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:10:59.49",
"topics": [
"dlr",
"money-fx"
],
"places": [
"west-germany"
],
"id": "15625"
},
{
"title": "CONSOLIDATED PAPERS INC <CPER> 1ST QTR NET",
"body": "Shr 1.01 dlrs vs 1.08 dlrs\n Net 21,983,000 vs 23,434,000\n Sales 174.9 mln vs 161.7 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 11:13:42.88",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15626"
},
{
"title": "GANDALF <GANDF> IN PACT WITH APPAREL COMPUTER",
"body": "Gandalf Technologies Inc said its\nRedifacts division and Apparel Computer Systems Inc of Concord,\nCalif., started a joint marketing effort in industrial data\ncollection and dissemination.\n Financial terms of the agreement were not disclosed.\n Gandalf said the companies will link software products to\ndevelop an on-line, real-time payroll information system for\napparel production factories.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:14:00.47",
"places": [
"canada",
"usa"
],
"id": "15627"
},
{
"title": "K MART <KM> OPENS BANK BRANCHES IN STORES",
"body": "K Mart Corp said it was opening\nbranch offices of <First Nationwide Bank> in 21 of its stores\nin Florida.\n The company said this brings to 57 the number of bank\nbranch, which are part of the Nationwide Network, an alliance\nof 40 independent locally managed financial institutions,\nlocations in Florida.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:14:08.90",
"places": [
"usa"
],
"id": "15628"
},
{
"title": "HUMANA <HUM> TO SELL MEDICAL OFFICES",
"body": "Humana Inc said it has agreed in\nprinciple to sell 68 MedFirst primary medical care facilities\nto <Primedical Corp> for undisclosed terms, with transfers\ntaking place over the next four months.\n It said it retains 37 MedFirst offices, mostly in the\nChicago area.\n The transaction is not expected to have any impact on\nearnings, Humana said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:14:16.95",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15629"
},
{
"title": "MOODY'S MAY DOWNGRADE AMERICAN HEALTHCARE <AHI>",
"body": "Moody's Investors Service Inc said it\nmay downgrade American Healthcare Management Inc's 80 mln dlrs\nof 15 pct subordinated notes.\n Moody's review will focus on prospects for the company's\noperating earnings in view of moderately disappointing results\nin 1986, an increasingly difficult industry environment and the\npossible loss later this year of income from one of American\nHealthcare's most profitable hospitals.\n The agency said American was unable to renew that\nhospital's lease. Moody's will also study the likelihood of\nAmerican Healthcare reducing debt service requirements.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:14:33.71",
"places": [
"usa"
],
"id": "15630"
},
{
"title": "MORGAN, OLMSTEAD, KENNEDY <MOKG> NAMES PRES",
"body": "Morgan, Olmstead, Kennedy and\nGardner Capital Corp said Michael Fusco has been named\npresident of its securities brokerage and investment banking\nfirm, Morgan, Olmstead, Kennedy and Gardner Inc.\n Fusco formerly was executive vice president of PaineWebber\nInc.\n He replaces G. Bryan Herrmann, who will retain his title of\npresident of the parent group, and assume the title of vice\nchairman of the parent, the company said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:14:45.93",
"places": [
"usa"
],
"id": "15631"
},
{
"title": "MET-COIL SYSTEMS CORP<METS> 3RD QTR FEB 28 NET",
"body": "Shr seven cts vs nine cts\n Net 168,000 vs 206,000\n Sales 15.3 mln vs 10.9 mln\n Nine mths\n Shr 10 cts vs 38 cts\n Net 228,000 vs 649,000\n Sales 35.8 mln vs 32.5 mln\n Qtly div three cts vs three cts prior\n Pay April 30\n Record April 20\n Reuter\n\u0003",
"date": " 9-APR-1987 11:14:52.99",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15632"
},
{
"title": "FOOD-N-FUEL REGISTERS PARTNERSHIP UNIT OFFERING",
"body": "Food-N-Fuel Partners L.P. said it\nfiled a registration statement with the Securities and Exchange\nCommission covering a planned initial offering of 2,575,000\nClass A Units of limited partnership interest.\n The partnership said the units are expected to be offered\nat 13 to 15 dlrs each next month by underwriters managed by\nDonaldson Lufkin and Jenrette, Rotan Mosle Inc, Lovett Mitchell\nWebb and Garrison Inc and Southwest Securities Inc.\n Food-N-Fuel said it will use the proceeds and 1,925,000\nClass B Units to acquire convenience stores, self-service\ngasoline outlets and truck stocks, primarily in small\ncommunities in the Southwestern and Southern United States,\nwhich the partnership will manage.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:15:07.98",
"places": [
"usa"
],
"id": "15633"
},
{
"title": "FORD RAISES QTLY PAYOUT 10 CTS/SHR TO 75 CTS\n",
"date": " 9-APR-1987 11:18:20.75",
"topics": [
"earn"
],
"id": "15634"
},
{
"title": "RANGER <RGO> SETS TERMS OF EUROBOND OFFER",
"body": "Ranger Oil Ltd said its\npreviously reported public 75 mln U.S. convertible debenture to\nbe placed in the European market would mature April 28, 2002,\nbear yearly interest of 6-1/2 pct and have a six U.S. dlr a\nshare conversion price.\n Lead managers are Credit Suisse First Boston Ltd and\nCazenove and Co.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:18:52.90",
"places": [
"canada"
],
"id": "15635"
},
{
"title": "LAWSON SEES NO CHANGE IN U.K. MONETARY POLICY",
"body": "British Chancellor of the Exchequer\nNigel Lawson said he saw no immediate implications for British\nmonetary policy arising from the Group of Seven meeting\nyesterday.\n \"Exchange rate stability is in the U.K.'s interest,\" he told\njournalists.\n Asked what it meant for U.K. monetary policy, he said, \"No,\nI do not think there are any immediate implications.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 11:22:35.82",
"topics": [
"money-fx"
],
"places": [
"usa",
"uk"
],
"id": "15636"
},
{
"title": "FORD MOTOR CO <F> RAISES QTLY PAYOUT",
"body": "Qtly div 75 cts vs 65 cts prior\n Pay June one\n Record May one\n Reuter\n\u0003",
"date": " 9-APR-1987 11:23:13.97",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15637"
},
{
"title": "STANDARD ELEKTRIK ISSUES AUSTRALIAN DLR EUROBOND",
"body": "Standard Elektrik Lorenz Finanz BV is\nissuing a 40 mln Australian dlr eurobond due May 11, 1990\npaying 14-1/4 pct and priced at 101-1/2 pct, lead manager\nCredit Suisse First Boston Ltd said. It is guaranteed by\nStandard Elektrik Lorenz AG.\n The non-callable bond is available in denominations of\n1,000 and 5,000 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 11.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:25:03.93",
"places": [
"uk"
],
"id": "15638"
},
{
"title": "TALKING POINT/STEEL COMPANIES",
"body": "Steel stocks, which have had a healthy\nrunup recently, still present some short term investment\nopportunities, according to some steel analysts.\n But others say the upturn, based on strong orders and firm\nprices this spring, has been strictly seasonal and will end\nsoon. They recommend taking profits.\n \"It's that time of year. This is strictly seasonal,\" said\nCharles Bradford of Merrill Lynch and Co. \"Orders will be\nstrong for about two months, and there are signs that some\n(order rates) are starting to dive already.\"\n But Dean Witter Reynolds Inc analyst Clarence Morrison sees\nsome short-term potential in the group, which includes USX Corp\n<X>, Bethlehem Steel Corp <BS>, Armco Inc <AS> and Inland Steel\nIndustries Inc <IAD>.\n \"There is still some attractiveness to steels over the\nshort- to intermediate-term based on improved order rates and\nrising prices,\" Morrison said. He only recommends one stock,\nhowever, Inland, which is modernizing steelmaking operations to\nmake them more efficient.\n Despite his bearishness, Merrill's Bradford continues to\nrecommend Armco, which he sees as a major turnaround.\n Armco's steelmaking operations are profitable, the balance\nsheet has been improved, and its oilfield equipment business\nhas been slimmed and put in a joint venture with USX, Bradford\nnoted. \"It's not a high-quality investment situation yet but\nthey've come a long way,\" he said.\n \"We think the stock will do moderately better than the\nmarket,\" he said. Armco shares, trading off 1/4 at 10 today,\ncould go to 12, and possibly as high as 15, he said.\n Bradford sees Armco earning 50 to 75 cts a share in 1987,\nbefore special gains from recouped investment tax credits,\nagainst losses last year.\n Armco's 1988 earnings could be significantly higher, he\nsaid.\n Bradford is recommending sale of USX shares. \"We had a buy\non it below 20 but when it gets to 28, let somebody else have\nit,\" he said.\n The steel and energy concern will earn about one dlr a\nshare in 1987, about half of that coming from asset sales, and\nfrom two dlrs to 2.50 dlrs in 1988, Bradford said. \"But a lot\ndepends on oil prices,\" he added. About 60 pct of USX's sales\ncome from oil and natural gas.\n Other analysts, including Michelle Galanter Applebaum of\nSalomon Brothers Inc, recommend USX. \"The company's done a lot\n(of restructuring), more than the market's given them credit\nfor,\" she said.\n She sees the stock going to the mid 30s or higher. USX was\ntrading up 1/8 at 28-1/2. She predicts USX will earn 18 cts a\nshare this year and 2.73 dlrs next year against large losses in\n1986.\n Applebaum, who is also positive on Armco and Inland, has\nbeen recommending the stocks since last November.\n Peter Marcus of Painewebber Inc is neutral on the group\nalthough he said the earnings outlook is improved through the\nthird quarter.\n But he sees potential trouble beyond then. \"I think (steel)\nprices on a bookings basis will start to drop by the summer,\"\nhe said.\n Applebaum of Salomon Brothers also sees some seasonal\ndropoff later in the year. \"But there are more positives than\nnegatives,\" she said, citing reduced capacity in the domestic\nindustry, better prices, and a weaker dollar, which should\ncause steel imports to drop off slightly from last year.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:26:15.27",
"topics": [
"iron-steel"
],
"places": [
"usa"
],
"id": "15639"
},
{
"title": "DEKALB CORP <DKLBB> 2ND QTR FEB 28 NET",
"body": "Shr 20 cts vs 14 cts\n Net 2.4 mln vs 1.7 mln\n Revs 136.7 mln vs 174.4 mln\n Six Mths\n SDhr 72 cts vs 82 cts\n Net 8.6 mln vs 9.9 mln\n Revs 212.5 mln vs 268.8 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 11:27:02.73",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15640"
},
{
"title": "ABBOTT <ABT> SEES GAINS FROM WEAKER DOLLAR",
"body": "Abbott Laboratories Inc said\nits 1987 first quarter record results reflected continued\nproductivity improvement, higher volume, better product mix and\na weaker U.S. dollar.\n Abbott reported 1987 first quarter earnings rose to a\nrecord 142 mln dlrs or 62 cts a share on record sales of one\nbillion dlrs.\n Research and development expenses, most of which was\napplied to diagnostic and pharmaceutical products, increased by\n23 pct to 78 mln dlrs, it said.\n Sales of pharmaceutical and nutritional products were 548\nmln dlrs in the first quarter, up 17.6 pct over a year ago,\nAbbott said. Hospital and laboratory product sales in the first\nquarter rose 14.1 pct to 456 mln dlrs, it said.\n First quarter sales in domestic markets advanced 11.5 pct\nto 688 mln dlrs while international sales jumped 27.1 pct to\n316 mln dlrs, Abbott said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:28:43.45",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15641"
},
{
"title": "EASTERN DISTRIBUTIVE BEEF TRADE WEEKLY - USDA",
"body": "Demand good for moderate\nsupplies of most beef cuts, However, limited interest noted for\ntenderloins/flank steaks. Yield grade 2-3 beef cuts, fabricated\nitems, vacuum packed.\n LBS CHOICE\n ROUND CUTS -steady/up 11.00 \n 160 round, part bnls 50-85 few 137\n 161 round, bnls 42-80 few 147\n 161 diamond cut 49-85 few 149\n 167 knuckle 8-15 few 148\n 167a knuckle, peeled 8-15 few 163\n 168 top inside round 14-26 165-175\n 170 bottom gooseneck rnd 18-33 131-135\n More\n\u0003",
"date": " 9-APR-1987 11:29:06.39",
"topics": [
"carcass",
"livestock"
],
"places": [
"usa"
],
"id": "15642"
},
{
"title": "BRAZIL COTTON CROP LOWER -- USDA REPORT",
"body": "Brazil's 1986/87 cotton crop estimate\nhas been reduced to 710,000 from 735,000 tonnes (lint basis),\nthe U.S. Agriculture Department's officer in Sao Paulo said in\na field report.\n The report, dated April 7, said the reduction is based on\nan expected smaller harvest in the center-south region.\n The center-south crop is now estimated at 550,000 tonnes --\n25,000 tonnes below the previous estimate.\n Hot, dry weather during part of January and excessive rains\nin some areas in February reduced yield prospects and may have\naffected quality, the report said.\n Nearly 60 pct of the crop has been harvested in Parana and\nslightly less in Sao Paulo, it said. Cotton entering gins is of\nfairly good quality, according to trade sources, it said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:29:23.19",
"topics": [
"cotton"
],
"places": [
"brazil",
"usa"
],
"id": "15643"
},
{
"title": "US SPRINT COMPLETES SECOND FIBER OPTIC ROUTE",
"body": "US Sprint, a joint venture of\nGTE Corp <GTE> and United Telecommunications Inc <UT>, said its\nsecond transcontinental fiber-optic route now is fully\noperational.\n \"The cable placement was completed in mid-March abd\ncommercial traffic began moving on the route April 1,\" Charles\nSkibo, US Sprint president, said.\n The new Southern route network runs from Los Angeles to\nFairfax, S.C., US Sprint said, adding it plans a third route in\nthe North from New York to Seattle.\n US Sprint completed its first route, known as the Central\nroute, in October 1986.\n The company also said its customer base now exceeds five\nmln customers. When it was formed in June 1986 it had 2.7 mln\ncustomers, US Sprint said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:30:06.08",
"places": [
"usa"
],
"id": "15644"
},
{
"title": "COMBUSTION ENGINEERING <CSP> IN PUBLIC OFFERING",
"body": "Combustion Engineering Inc said it will\noffer four mln shares of its common stock at 33.75 dlrs per\nshare.\n It said the U.S. offering will be underwritten by Salomon\nBrothers Inc, The First Boston Corp and Goldman Sachs and Co\nInc. The underwriters have been granted an option to purchase\nup to an additional 600,000 shares to cover over-allotments.\n Concurrent with this offering, 500,000 shares of common\nstock are being sold at the same price in Europe.\n Proceeds of the sales will be used to repay short-term debt\nincurred to finance the acquisition of AccuRay Corp in January\n1987 and certain associated costs, the company said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:30:17.57",
"places": [
"usa"
],
"id": "15645"
},
{
"title": "TREASURY'S BAKER SAYS TRADE, CURRENT ACCOUNT IMBALANCES \"SIMPLY NOT SUSTAINABLE\"\n",
"date": " 9-APR-1987 11:31:11.77",
"topics": [
"trade",
"bop"
],
"id": "15646"
},
{
"title": "FIRST INTERSTATE BANCORP SETS FRANCHISE AGREEMENTS WITH BANKS IN LOUISIANA, WASHINGTON, D.C.\n",
"date": " 9-APR-1987 11:31:38.44",
"places": [
"usa"
],
"id": "15647"
},
{
"title": "EC AUTHORISES EXPORT 55,000 TONNES MAIZE, MAXIMUM REBATE 130 ECUS/TONNE - TRADE SOURCES.\n",
"date": " 9-APR-1987 11:31:50.94",
"topics": [
"corn",
"grain"
],
"organisations": [
"ec"
],
"id": "15648"
},
{
"title": "EC AUTHORISES EXPORT 65,000 TONNES BARLEY, MAXIMUM REBATE 138.75 ECUS - BRUSSELS TRADE\n",
"date": " 9-APR-1987 11:32:44.22",
"topics": [
"grain",
"barley"
],
"organisations": [
"ec"
],
"places": [
"belgium"
],
"id": "15649"
},
{
"title": "IRAN SAYS IT OPENS NEW OFFENSIVE NORTH OF BAGHDAD",
"body": "Iran said it launched a fresh offensive\ntoday north of Baghdad, three days after it began a new thrust\nagainst Iraq on the southern Gulf war front.\n The Iranian news agency IRNA, received in London, said the\noffensive began before dawn northeast of Qasr-e-Shirin, on the\nborder 110 miles northeast of the Iraqi capital.\n \"Heavy casualties and losses have been inflicted on Iraqi\nforces in the fresh Iranian assault,\" IRNA said.\n Iran today reported major gains on the southern front near\nthe major Iraqi port city of Basra, saying its forces had\ncaptured an important defensive line.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:36:40.38",
"places": [
"uk",
"iran",
"iraq"
],
"id": "15650"
},
{
"title": "RJR NABISCO FIRST QUARTER NET TO INCLUDE 208 MLN DLR GAIN, 209 MLN DLR CHARGE\n",
"date": " 9-APR-1987 11:36:43.60",
"topics": [
"earn"
],
"id": "15651"
},
{
"title": "BERLINER BANK ISSUES 50 MLN AUSTRALIAN DLR BOND",
"body": "Berliner Bank AG Berlin is issuing a 50\nmln Australian dlr eurobond due November 13, 1990 paying 14-1/4\npct and priced at 101-1/2 pct, lead manager Banque Paribas\nCapital Markets said.\n The non-callable bond is available in denominations of\n1,000 Australian dlrs and will be listed in Luxembourg. The\nselling concession is one pct while management and underwriting\ncombined pays 5/8 pct.\n The payment date is May 13 and there will be a long first\ncoupon period.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:37:00.88",
"places": [
"uk"
],
"id": "15652"
},
{
"title": "BRAZIL COCOA EXPORTERS UNLIKELY TO LIMIT SALES",
"body": "Brazilian cocoa exporters are not\nlikely to follow the example of Cocoa Producers Alliance, CPA,\nmembers, who may limit sales of the product in an effort to\nboost world prices, trade sources said.\n They said a similar procedure was taken in the past in\nBrazil and that it did not work out according to plans.\n \"The cocoa market is completely free. Unlike coffee, which\nis controlled through export registrations, cocoa exporters in\nBrazil operate at their own free will,\" a trade source said.\n The traders were responding to questions whether they would\nfollow the example of CPA members meeting in Yaounde.\n The sources said the Banco do Brasil's Foreign Trade\nDepartment, CACEX, never interferes in the cocoa market by\nrejecting sales that do not meet certain price or shipment\ncriteria.\n \"The position of local producers is always to negotiate as\nthey please. If they buy for ten and sell for eleven and think\nit's a good deal, they are free to go ahead,\" one source added.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:38:21.78",
"topics": [
"cocoa"
],
"places": [
"brazil"
],
"id": "15653"
},
{
"title": "U.S. HOUSE OF REPRESENTATIVES DEFEATS REAGAN'S 1988 BUDGET\n",
"date": " 9-APR-1987 11:38:41.23",
"places": [
"usa"
],
"id": "15654"
},
{
"title": "HEALTH/REHABILITATION <HRP> SETS FIRST PAYOUT",
"body": "Health and Rehabilitation\nProperties Trust said its board declared an initial dividend of\n55 cts, including 50 cts for the first quarter just ended and\nfive cts from its initial operating period that began December\n23.\n The dividend is payable May 30, record April 20.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:41:38.50",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15655"
},
{
"title": "U.S. TREASURY'S BAKER SAYS RATE SHIFTS ORDERLY",
"body": "Treasury Secretary James Baker said\nthat changes in exchange rates have generally been orderly and\nhave improved the prospects for a reduction in external\nimbalances to more sustainable levels.\n In remarks before the IMF's policy-making Interim\nCommittee, Baker reiterated a Group of Seven statement last\nnight that the substantial exchange rate changes since the\nPlaza agreement 18 months ago have \"now brought currencies\nwithin ranges broadly consistent with economic fundamentals.\"\n Baker said, \"These exchange rate shifts have generally been\norderly, and have improved prospects for the reduction of\nexternal imbalances to more sustainable levels.\"\n As they are today, the trade and current account imbalances\n\"simply are not sustainable,\" Baker told the ministers.\n He said that the Reagan administration was resisting \"strong\ndomestic pressure\" for trade protection and was working closely\nwith the U.S. Congress in crafting a trade bill.\n \"While we cannot yet be sure of the outcome, we are doing\nwhat we can to ensure that the bill is not protectionist,\" he\nsaid.\n Baker also urged the International Monetary Fund's\nexecutive board to review possible modifications to the Fund's\ncompensatory financing facility before the annual meeting this\nfall.\n \"We should pay particular attention to the lack of\ncontinuing conditionality associated with the use of the CFF\nand to whether shortfalls in export earnings are indeed\ntemporary,\" he said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:42:06.54",
"topics": [
"money-fx"
],
"organisations": [
"imf"
],
"places": [
"usa"
],
"id": "15656"
},
{
"title": "DATA ARCHITECTS <DRCH> TO TRADE ON AMEX",
"body": "The American Stock Exchange said Data\nArchitects Inc common will begin trading on the exchange\ntomorrow under the symbol <DAI>.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 11:43:28.75",
"places": [
"usa"
],
"id": "15657"
},
{
"title": "IRAN SAYS IT OPENS NEW OFFENSIVE NORTH OF BAGHDAD",
"body": "Iran said it launched a fresh offensive\ntoday north of Baghdad, three days after it began a new thrust\nagainst Iraq on the southern Gulf war front.\n The Iranian news agency IRNA, received in London, said the\noffensive began before dawn northeast of Qasr-e-Shirin, on the\nborder 110 miles northeast of the Iraqi capital.\n \"Heavy casualties and losses have been inflicted on Iraqi\nforces in the fresh Iranian assault,\" IRNA said.\n Iran today reported major gains on the southern front near\nthe major Iraqi port city of Basra, saying its forces had\ncaptured an important defensive line.\n Iraq said today it repelled an Iranian assault near its\nsouthern port of Basra last night, inflicting thousands of\ncasualties on the attackers.\n An Iraqi field commander told a correspondent of the\nofficial Iraqi news agency INA that four Iranian divisions were\ndestroyed in the fighting. He said \"Our forces are still engaged\nin repelling the enemy offensive, inflicting on them intensive\nlosses, but (they are) in full control of the situation.\"\n A Baghdad war communique last night said Iraq had foiled a\nthree-pronged thrust some 10 km from Basra while admitting Iran\nhad occupied some fresh territory.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:45:11.88",
"places": [
"uk",
"iran",
"iraq"
],
"id": "15658"
},
{
"title": "CONSECO <CNC> FILES TO OFFER SHARES",
"body": "Conseco Inc said it has filed to\noffer two mln common shares through underwriters led by Sears,\nRoebuck and Co Inc's <S> Dean Witter Reynolds unit.\n It said the offering is expected to be made in early May,\nwith proceeds to be used to partly finance the proposed 275 mln\ndlr acquisition of Western National Life Insurance Co or to\nrepay bank debt if the acquisition is not completed.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:46:59.75",
"places": [
"usa"
],
"id": "15659"
},
{
"title": "COMAIR <COMR> MARCH LOAD FACTOR FALLS",
"body": "Comair Inc said March load factor\nfell to 36.6 pct from 39.8 pct a year earlier.\n The company said revenue passenger miles rose 9.0 pct to\n12.4 mln from 11.3 mln and available seat miles rose 18.5 pct\nto 33.8 mln from 28.5 mln.\n For the year to date, Comair said load factor fell to 36.3\npct to 40.3 pct a year before, as revenue passenger miles rose\n3.8 pct to 131.4 mln from 126.6 mln and available seat miles\nrose 15.3 pct to 362.3 mln from 314.3 mln. \n Reuter\n\u0003",
"date": " 9-APR-1987 11:47:22.77",
"places": [
"usa"
],
"id": "15660"
},
{
"title": "U.S. HOUSE DEFEATS REAGAN'S 1988 BUDGET",
"body": "The Democratic-run House of\nRepresentatives defeated on a 394 to 27 vote President Reagan's\n1988 budget and planned to vote later on one written by House\nBudget Committee Democrats.\n The defeat was expected. Republicans as well as Democrats\nabandoned Reagan's budget for containing what they said were\nunrealistic assumptions.\n Democratic leaders said they expected to pass the\ncommittee's budget after considering two other alternatives,\nbut committee sources said the voting could be close.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:47:37.41",
"places": [
"usa"
],
"id": "15661"
},
{
"title": "TOTH ALUMINUM <TOTH> SHARE OFFERING UNDER WAY",
"body": "Toth Aluminum Corp said an offering\nof 2,500,000 common shares is under way at 1.875 dlrs each.\n It said another 5,993,577 shares are issuable on the\nexercise of outstanding options.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:47:54.03",
"places": [
"usa"
],
"id": "15662"
},
{
"title": "VARITY <VAT> CAPITAL RESTATEMENT APPROVED",
"body": "<Varity Corp> said shareholders approved\na previously reported proposal to transfer 137.5 mln U.S. dlrs\nto the contributed surplus account on the company's balance\nsheet from the stated capital account for common shares.\n The company said the move would allow it to meet Canadian\ngovernment tests related to dividend payments.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:48:00.24",
"places": [
"canada"
],
"id": "15663"
},
{
"title": "TIME <TL> TO SELL PART OF UNIT",
"body": "Time Inc said its Time-Life Video Inc\nsubsidiary has agreed in principle to sell its institutional\ntraining business to Time-Life Video president William V.\nAmbrose for undisclosed terms.\n It said the business will operate as Ambrose Video\nPublishing.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:48:06.19",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15664"
},
{
"title": "TORONTO DOMINION AUSTRALIA DOLLAR BOND INCREASED",
"body": "Toronto Dominion Bank, Nassau Branch, has\nincreased its eurobond offering to 50 mln Australian dlrs from\n40 mln, lead manager Hambros Bank Ltd said.\n All other terms remain the same.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:48:10.25",
"places": [
"uk"
],
"id": "15665"
},
{
"title": "SPRINKEL SAYS TAX HIKE WOULD NOT REDUCE DEFICIT",
"body": "Council of Economic Advisers chairman\nBeryl Sprinkel said the Reagan Administration remains strongly\nopposed to a tax increase, including 18 billion dlrs of new\nrevenues in the budget plan by Congressional Democrats.\n \"We believe that significant increases in taxes would not\nreduce deficits and could have adverse effects on growth,\"\nSprinkel told the House Rules Committee.\n He said the Administration wanted to continue its policy of\ngradually reducing deficits through restraining government\nspending and promoting economic growth. Sprinkel said cutting\nthe budget deficit was the best way to lower the trade deficit.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:48:21.79",
"topics": [
"trade"
],
"places": [
"usa"
],
"id": "15666"
},
{
"title": "ROYAL BUSINESS GROUP INC <ROY> 2ND QTR MARCH ONE",
"body": "Shr 49 cts vs five cts\n Shr diluted 45 cts vs five cts\n Net 651,000 vs 95,000\n Revs not given\n 1st half\n Shr 57 cts vs one ct\n Shr diluted 53 cts vs one ct\n Net 781,000 vs 56,000\n Revs not given\n NOTE: Current year net both periods includes gain 873,000\ndlrs from repurchase of securities.\n Results exclude Business Forms Division, which is to be\nsold.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:48:31.13",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15667"
},
{
"title": "<MSE CABLE SYSTEMS INC> 4TH QTR NET",
"body": "Shr nil vs nil\n Net 18,534 vcs 27,431\n Revs 270,032 vs 188,326\n Avg shrs 6,598,871 vs 6,090,576\n Year\n Shr nil vs nil\n Net 47,299 vs 21,570\n Revs 1,004,392 vs 677,909\n Avg shrs 6,618,063 vs 5,931,324\n NOTE: Share adjusted for one-for-11 reverse split.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:48:39.06",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15668"
},
{
"title": "RULE INDUSTRIES INC <RULE> 2ND QTR FEB 28 NET",
"body": "Shr 17 cts vs 10 cts\n Net 408,000 vs 237,000\n Revs 8,863,000 vs 6,738,000\n 1st half\n Shr 27 cts vs 15 cts\n Net 647,000 vs 356,000\n Revs 17.2 mln vs 12.5 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 11:49:01.56",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15669"
},
{
"title": "CARSON PIRIE SCOTT AND CO <CRN> MARCH SALES UP",
"body": "Carson Pirie Scott and Co said its March\nretail sales increased 8.2 pct to 70.6 mln dlrs from 65.3 mln\ndlrs a year ago.\n It said cumulative sales gained 13.2 pct to 125.0 mln dlrs\nfrom 110.4 mln dlrs in the same 1986 period.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:49:13.18",
"places": [
"usa"
],
"id": "15670"
},
{
"title": "JAPAN CRITICISED FOR \"DUMPING\" OF BANK SERVICES",
"body": "Japan, which has been accused of dumping\neverything from steel to computer microchips on world markets,\nis now under attack for alleged cutthroat selling of a product\nof a different sort -- banking services.\n At meetings here this week, Bank of England officials\npressed their Japanese counterparts to change regulations that\nforeign bankers say give their Japanese rivals an unfair\nadvantage in world financial markets.\n The technical banking talks coincided with, but were\nseparate from, discussions between Japanese officials and\nBritish corporate affairs minister Michael Howard, who left\nTokyo yesterday for South Korea.\n At the crux of the talks was the way regulators in various\ncountries measure bank capital and how much capital banks must\nput up to back up their loans.\n It is generally agreed that shareholders' equity forms the\nbulwark of bank capital but there is disagreement about what\nelse should be included.\n Some foreign bankers contend that their Japanese rivals can\nundercut them on loans and other banking services because\nTokyo's capital regulations are easier to meet.\n The Japanese banks have an unfair advantage, Paul Hofer,\nhead of the Foreign Bankers Association of Japan, told Reuters.\n Sumitomo Bank Ltd chief economist Masahiko Koido said, \"They\nsee us as very aggressive. We say we are just trying to catch\nup with them.\"\n Earlier this year, the United States and Britain agreed to\nadopt common regulations requiring banks to put up capital\nequivalent to at least six pct of total assets. The two\ncountries urged others to follow suit, notably Japan.\n But Japanese Finance Ministry officials held out little\nhope that would happen soon as they just introduced new\nregulations governing capital ratios last May.\n Under those regulations, banks have until 1990 to attain a\ncapital ratio of four pct. But, in tacit recognition of\noverseas pressure, the ministry set a six pct target for\nJapanese banks with overseas branches.\n But foreign bankers say the rub was that it allowed Japan's\nbanks to count 70 pct of the value of their massive holdings of\nJapanese shares - their so-called hidden reserves - as capital.\n Without the shares, big Japanese banks would only have\ncapital ratios of around three pct. With them, their ratios are\nwell above six pct, especially after the recent record-breaking\nclimb of Tokyo share prices.\n Western diplomats argue that the shares are valued far too\nhigh by the ministry. Japanese banks would never be able to\nrealize anywhere near that amount if they were forced to sell\nthe shares to raise funds in an emergency, they say.\n Finance Ministry officials defended their stance by saying\nthat studies of the stock market over the last 30 years show\nthat prices have rarely fallen below the 70 pct value level.\n But the U.S. Federal Reserve seems to think otherwise.\nJapanese officials say the Fed has effectively held up\napplications for bank licenses by Japanese financial\ninstitutions by asking them for a very detailed accounting of\ntheir hidden reserves.\n The officials say Japan recently raised the issue with the\nFed through its embassy in Washington and is hoping for talks\non the subject.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:49:19.99",
"places": [
"japan",
"usa",
"uk"
],
"id": "15671"
},
{
"title": "NEW JERSEY INVESTOR BUYS 5.2 PCT OF KINARK <KIN>",
"body": "A New Jersey investor, Joseph\nFalkenstein, told the Securities and Exchange Commission he\nholds 5.2 pct of the shares of Kinark Corp.\n He said he has no plans to change the company and that he\nbought the shares because he believed the stock was undervalued\nand would rise in the next six months.\n reuter\n\u0003",
"date": " 9-APR-1987 11:49:39.25",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15672"
},
{
"title": "HONEYWELL BULL SEEKING 400 MLN DLR FACILITY",
"body": "<Honeywell Bull> is seeking a 400 mln dlr,\nfive-year multi option facility, arranger Banque Nationale de\nParis said.\n The facility will be co-arranged by Morgan Guaranty and The\nIndustrial Bank of Japan Ltd.\n The operation has an \"evergreen\" facility and can be extended\nup to eight years, BNP said.\n The facility will be made up of two components. The first \"A\"\npart will consist of a maximum 400 mln dlrs with a maximum\nspread of Libor plus 3/8 pct.\n Component \"B,\" to be unsecured, will be for a maximum of 200\nmln dlrs with a maximum spread of Libor plus 5/8 pct for the\nfirst three years, Libor plus 3/4 pct for the fourth to sixth\nyears and LIBOR plus 7/8 pct for the seventh year.\n Honeywell Bull was recently created by Cie des Machines\nBull <BULP.PA>, <Honeywell Inc> and <NEC Corp> of Japan.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:49:54.73",
"places": [
"france"
],
"id": "15673"
},
{
"title": "NATIONAL DISTILLERS <DR> SEES SECOND QTR GAIN",
"body": "National Distillers and Chemical Corp\nexpects to realize a second quarter after-tax gain of four dlrs\nper share from the 545 mln dlr sale of its spirits business to\nAmerican Brands Inc <AMB>.\n National Distillers' stock rose 1-1/8 to 65-1/2, after an\nopening delay on the New York Stock exchange for an imbalance\nof orders.\n \"I think the sales price was higher than most people\nexpected,\" said John Henry of E.F. Hutton Group.\n A company spokeswoman said the four dlr per share gain will\nbe included in second quarter net, which compares with 31 cts\nper share last year, including the spirits and wine business\n \"They netted over 700 mln dlrs for spirits and wine. That\nwill ease their interest cost burden,\" said Henry.\n National Distillers sold its wine business last month to\nGrand Metropolitan PLC's Heublein Inc for 128 mln dlrs.\n Henry said he had anticipated National Distillers would net\nonly 600 mln dlrs at the most from the sale of the two liquor\nbusinesses.\n Henry said the company recovered from the sales the cost of\nbuying Enron Chemicals in the fourth quarter last year.\nNational Distillers paid 570 mln dlrs cash for Enron and\nassumed 34 mln dlrs in debt. National Distillers said at the\ntime it bought Enron it would sell the spirits and wine\nbusinesses, moving more into the chemical area.\n For 1986, two thirds of income were from chemicals and\npropane. National Distillers earned, excluding the liquor\nbusinesses, 2.21 dlrs per share for 1986. Income from\ndiscontinued operations, including the liquor businesses, was\n67 cts per share.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:50:16.82",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15674"
},
{
"title": "WEATHER HURTS ITALIAN ORANGES - USDA REPORT",
"body": "Unfavorable weather conditions during\nthe second week of March caused damage to oranges in the\nCalabria region in southern Italy, the U.S. Agriculture\nDepartment's officer in Rome said in a field report.\n The report, dated April 3, said the region accounts for\nabout 22,000 hectares of the Italian orange crop or about 26\npct of total production.\n However, orange production in the region for marketing year\n1986/87 is forecast at 565,000 tonnes or 25 pct of the total\nItalian orange crop, it said.\n The report said trade contacts agree that about 15 pct of\nthe orange output in Calabria was damaged by frost.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:50:30.61",
"topics": [
"orange"
],
"places": [
"italy"
],
"id": "15675"
},
{
"title": "EC GRANTS FREE MARKET BARLEY, MAIZE EXPORTS",
"body": "The European Commission authorised the\nexport of 65,000 tonnes of free market barley at today's tender\nat a maximum rebate of 138.75 European currency units and\n55,000 tonnes of French maize at 130 Ecus, grain traders here\nsaid.\n It rejected bids for breadmaking and feed wheat, they said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:51:04.96",
"topics": [
"grain",
"barley",
"corn",
"wheat"
],
"organisations": [
"ec"
],
"id": "15676"
},
{
"title": "FED BUYING DOLLARS FOR YEN IN OPEN MARKET, NEW YORK DEALERS SAY\n",
"date": " 9-APR-1987 11:51:10.02",
"topics": [
"dlr",
"money-fx"
],
"places": [
"usa"
],
"id": "15677"
},
{
"title": "LLOYD'S OFFERS CASH IN BID TO END PCW AFFAIR",
"body": "Lloyd's of London has offered to meet\npart of the 235 mln stg in claims that investors in PCW\nUnderwriting Agencies face due to fraud and mismanagement,\nchairman Peter Miller said at a press conference.\n Miller urged 3,000 PCW members to accept the offer so that\nthe five-year-old affair could be closed.\n The members have until May 30 to accept the offer,\ninvolving a 103 mln stg payment by Lloyd's and some of Lloyd's\nunderwriters in exchange for a 34 mln stg contribution from PCW\nmembers, he said.\n Miller said that at end-1985, PCW syndicates had gross\nliabilities of 680 mln stg.\n To offset this, they had assets, including cash and\npayments from reinsurance policies on some of the risks\nunderwritten by the syndicates, of 445 mln stg, leaving net\nliabilities of 235 mln, he said.\n The total sum on offer, including a 48 mln stg payment from\nLloyd's 311 mln stg contingency fund and 55 mln stg from\nLloyd's brokers who could otherwise face court cases for their\ninvolvement in PCW, is designed to cover the full reinsurance\ncost for those 235 mln stg of net liabilities, Miller said.\n Under the offer, which requires 90 pct acceptance, Lloyd's\nitself would take over all members' future obligations\nconnected with the PCW syndicates, Miller said. Members would\nhave to agree not to pursue the matter in court.\n Miller said a rejection of the offer would probably lead to\nprotracted litigation in court which, even if succesful for\nmembers, was unlikely to produce a better deal for them.\n He added that acceptance would mean members could continue\nunderwriting in the Lloyd's market and qualify for tax relief\non the cash payments they would make towards the settlement.\n Miller denied that PCW members would face bills of over\n200,000 stg.\n He said only 34 members would be asked to pay between\n100,000 and 200,000 stg, and about 100 between 60,000 and\n100,000 stg. Special arrangements would be sought for those who\naccept the offer but are unable to pay.\n Miller said the offer did not imply Lloyd's accepted\nresponsibility for the affair, uncovered in the late autumn of\n1982 when \"it became quite clear that (PCW agency founder) Peter\nCameron Webb and (his partner) Peter Dixon had perpetrated\ntheft upon members,\" he said.\n Part of the sum involved was subsequently recovered and\nrepaid to members, but Cameron Webb and Dixon left the affairs\nof PCW syndicates \"in a state of chaos which led to a sharp\ndeterioration of their underwriting results,\" Miller said. Both\nwere fined by a Lloyd's disciplinary committee and expelled\nfrom membership.\n He said Lloyd's would continue to seek reparation in\nBritish and U.S. Courts \"with the utmost vigour ... To bring to\na close one of the most shameful episodes in the history of\nLloyd's,\" and was contemplating claiming the full amount of the\nsettlement now on offer from Cameron Webb and Dixon.\n In a reaction, insurance brokerage Sedgwick Group Plc\n<SDWK.L> said it supported Lloyd's proposals and had\ncontributed 10 mln stg towards the proposed settlement.\n It said in a statement, \"as largest broker in the Lloyd's\nmarket, the company has an essential interest in maintaining\nthe reputation of the market. That reputation has been damaged\nby problems at PCW and will continue to be so as long as they\nremain unresolved.\" It had contributed to the proposed\nsettlement to avoid costs related to the defence of some of its\nsubsidiaries which had been named as potential defendants to\nlitigation by PCW members, it said.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:53:38.37",
"places": [
"uk"
],
"id": "15678"
},
{
"title": "WASTE RECOVERY INC <WRII> 4TH QTR NET",
"body": "Shr loss eight cts vs loss nine cts\n Net loss 311,255 vs loss 157,941\n Revs 546,069 vs 284,636\n Avg shrs 3,790,235 vs 1,819,680\n Year\n Shr loss 27 cts vs loss 24 cts\n Net loss 858,624 vs loss 399,385\n Revs 1,491,518 vs 1,407,441\n Avg shrs 3,175,157 vs 1,692,700\n Reuter\n\u0003",
"date": " 9-APR-1987 11:54:38.60",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15679"
},
{
"title": "BRANCH CORP <BNCH> 1ST QTR NET",
"body": "Shr primary 99ct vs 82 cxts\n Shr diluted 93 cts vs 78 cts\n Net 7,784,000 vs 6,357,000\n Assets 3.25 billion vs 2.74 billion\n Deposits 2.58 billion vs 2.24 billion\n Loans 2.20 billion vs 1.81 billion\n Reuter\n\u0003",
"date": " 9-APR-1987 11:54:44.00",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15680"
},
{
"title": "AMRO BANK PLANS 300 MLN GUILDER 6.75 PCT BONDS",
"body": "Amsterdam-Rotterdam Bank NV <AMRO.AS>\nsaid it plans to issue 300 mln 6.75 pct capital bonds due\n1988/2007.\n The bonds will be redeemable in 20 almost equal annual\ninstalments starting June 1, 1988.\n Early redemption is not permitted, the bank said.\n The issue price will be announced no later than Wednesday,\nApril 15. Subscriptions close on Thursday April 16 at 15.00 hrs\nlocal time. The coupon and payment date is June 1.\n The bonds will be listed on the Amsterdam Stock Exchange.\n A spokesman for the bank said the capital bonds were\nsubordinated and had an average maturity of 10.5 years.\n The bonds will be in denominations of 1,000 and 5,000\nguilders.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:54:52.53",
"places": [
"netherlands"
],
"id": "15681"
},
{
"title": "KURZ-KASCH UPS STAKE IN COMPONENT TECH <CTEC>",
"body": "Kurz-Kasch Inc, a Dayton thermoset\nmolding maker, told the Securities and Exchange Commission it\nhad increased its holdings in Component Technology Corp by two\npct, to 9.3 pct.\n It said it bought the 39,000 shares of stock at 5.30-6.875\ndlrs a share for investment purposes.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:54:57.36",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15682"
},
{
"title": "FIRST INTERSTATE <I> SETS TWO FRANCHISE PACTS",
"body": "First Interstate Bancorp said it\nsigned franchise agreements with banks in Louisiana and\nWashington D.C.\n The banks, Citizens Bank and Trust Co of Thibodaux,\nLouisiana and National Enterprise Bank of Washington, will\nchange their names to First Interstate this summer.\n Citizens Bank has assets of 267 mln dlrs in eight offices.\nNational Enterprise has 53 mln dlrs in assets in one office.\n Under its franchise system, member banks offer a variety of\nFirst Interstate financial services, but are not owned by First\nInterstate.\n First Interstate operates 24 banks in 12 states, but its\nfranchise operation extends the geographic area through its\naffiliate banks to 19 states, plus the District of Columbia.\n First Interstate, the nation's ninth largest bank, has 42\nbanks with 138 offices under its franchise system.\n Today's move is its first into the east coast and southern\nportion of the nation. Most of its other franchise system banks\nare located in the western region.\n First Interstate Chairman Joseph Pinola told Reuters in a\nrecent interview the lagging agricultural economy in the\nMidwest continues to inhibit expansion into that region.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:55:29.13",
"places": [
"usa"
],
"id": "15683"
},
{
"title": "DASSAULT OFFERS NEW PLANE TO DEFENCE MINISTRY",
"body": "Avions Marcel Dassault-Breguet Aviation\n<AVMD.PA> has offered the French Defence Ministry a new design\nof its Rafale fighter which is lighter and less detectible by\nradar, a company spokesman said today.\n The new version would weigh between 8.5 and nine tonnes\nunarmed against 9.5 tonnes for the existing Rafale-A\ndemonstrator which first flew last year, he said.\n The Rafale-D design calls for special paints and materials\nto absorb radar signals, as well as smoother contours and\nelectronic counter-measures.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:56:36.64",
"places": [
"france"
],
"id": "15684"
},
{
"title": "WALL ST. SCANDAL SAID TO REFLECT REAGAN ETHIC",
"body": "A key U.S. lawmaker in the securities\nfield said the insider trading scandal gripping Wall Street\nreflects the attitude of the Reagan administration.\n \"They don't ask the question, 'Is it right or is it wrong?'\nThey ask the question, 'Can you pull it off?'\" Rep Edward Markey\n(D-Mass) told a state securities administrators meeting here.\n Markey, Chairman of the House telecommunications and\nfinance subcommittee which oversees U.S. securities markets,\nsaid this ethic permeated Wall Street as well as the Reagan\nadministration.\n He cited as examples a number of administration officials\ntainted by charges of wrongdoing including ex-Reagan advisor\nMichael Deaver, former national security aide John Poindexter\nand former Environmental Protection Agency official Rita\nLavelle.\n Some Wall Street critics have blamed the insider trading\nscandal on the so-called \"Yuppie mentality\", in which young\nprofessionals strive for financial reward and neglect social\nvalues.\n But Markey said the inspiration for this attitude came from\nthe administration.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:57:39.83",
"places": [
"usa"
],
"id": "15685"
},
{
"title": "BRAZIL SOYBEAN YIELDS SEEN AVERAGE - USDA REPORT",
"body": "Based on field travel in the\nBrazilian state of Parana, soybean yields should be about\naverage or 2.0 to 2.2 tonnes per hectare, the U.S. Agriculture\nDepartment's officer in Sao Paulo said in a field report.\n The report, dated March 24, noted Parana accounts for about\n20 to 24 pct of Brazil's total soybean crop.\n It said generally favorable weather from early December\nthrough February helped compensate for earlier dryness.\n However, hot, dry weather during the past 20 to 30 days\nfollowed by an unseasonably brief cold spell during the second\nweek of march has raised concern about late planted soybeans\nwhich are still immature, but the impact may be localized, the\nreport said.\n The corn crop is expected to be a record and will create\nserious storage problems, the report said.\n Due to favorable support prices, corn area increased by\nmore than 25 pct at the expense of soybeans, and yields are\nexpected to be above average, it said.\n Due to late plantings only about 20 pct of the corn crop\ncrop has been harvested.\n During the field trip long truck lines were noted at grain\nelevators where preference is given to soybeans over corn, the\nreport said.\n New crop wheat plantings are expected to decline -- Parana\naccounts for about 60 pct of total production. Major reasons\nfor the decline are expected reduced government support price\nand good summer crop harvests.\n Reuter\n\u0003",
"date": " 9-APR-1987 11:58:20.28",
"topics": [
"oilseed",
"soybean",
"grain",
"corn",
"wheat"
],
"places": [
"brazil"
],
"id": "15686"
},
{
"title": "COLOMBIA SECURES 1.95 BILLION DLRS OF DEBT",
"body": "Colombia has secured total borrowings\nthis year for 1.95 billion dlrs, of which 1.40 billion\ncorrespond to loans arranged before 1986, Director of Public\nCredit Mauricio Cabrera said.\n Cabrera said about half of the borrowings would come from\nthe World Bank and the Inter-American Development Bank.\n He was speaking at a forum for industrialists upon his\nreturn from London where he attended the signing of a 50 mln\ndlr floating rate note, Colombia's first such offering on the\neuromarket.\n Cabrera reaffirmed that Colombia has no intention of\nrescheduling its foreign debt, which he put at 14.35 billion\ndlrs, of which 11.35 billion are from the public sector.\n For the international banking community, Colombia continues\nto be \"the best house in spite of being in the worst\nneighbourhood,\" he said.\n He said debt servicing will remain a burden in 1987 and\nwill amount to 34.6 pct of total exports.\n REUTER\n\u0003",
"date": " 9-APR-1987 11:59:17.36",
"places": [
"colombia"
],
"id": "15687"
},
{
"title": "ZAYRE CORP <ZY> RAISES QUARTERLY",
"body": "Qtly div 10 cts vs eight cts prior\n Pay June Four\n Record May 14\n Reuter\n\u0003",
"date": " 9-APR-1987 11:59:40.09",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15688"
},
{
"title": "FED SEEN BUYING DOLLARS FOR YEN IN OPEN MARKET",
"body": "The Federal Reserve was detected buying\ndollars for yen in the open market as the dollar fell to a\n40-year low of 144.60 yen in nervous late morning trading,\ncurrency dealers said.\n They said the size of the intervention was relatively\nmodest so far but it was a clear indication that the U.S.\nremained committed to the late February Paris currency\nstabilization accord, which was reaffirmed in Washington last\nnight.\n A Fed spokeswoman had no comment on the dealer reports.\n The dollar hovered around 144.70 just before midday.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:00:33.40",
"topics": [
"dlr",
"money-fx"
],
"places": [
"usa"
],
"id": "15689"
},
{
"title": "MAY DEPARTMENT STORES MARCH SALES RISE 3.5 PCT\n",
"date": " 9-APR-1987 12:00:55.78",
"id": "15690"
},
{
"title": "RJR NABISCO <RJR> HAS OFFSETTING GAINS, CHARGES",
"body": "RJR Nabisco Inc said its\n1987 first quarter results will include an after-tax gain of\n208 mln dlrs from the sale of Heublein Inc and offsetting\ncharges.\n The company said its operations are performing well and in\nline with expectations.\n RJR Nabisco said the charges reflect reserves it\nestablished to cover certain expenses.\n RJR Nabisco said the expenses covered, on after-tax basis,\ninclude --\n -- 50 mln dlrs for the write-down of redundant equipment\nand facilities resulting from modernization of its U.S. tobacco\noperations,\n -- 79 mln dlrs for continuing restruction of its food\nsubsidiaries, and\n -- 80 mln dlrs in connection with the early retirement of\nhigh coupon debt.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:01:26.98",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15691"
},
{
"title": "BAYBANKS INC <BBNK> 1ST QTR NET",
"body": "Oper shr 1.08 dlrs vs 96 cts\n Oper shr diluted 1.02 dlrs vs 89 cts\n Oper net 16.1 mln vs 12.8 mln\n Avg shrs 14.9 mln vs 13.4 mln\n Avg shrs 16.1 mln vs 14.8 mln\n NOTE: 1987 net excludes gain 4,820,000 dlrs from cumulative\neffect of change in calculating depreciation expense.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:02:24.21",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15692"
},
{
"title": "U.S., BRITAIN BAR SANCTIONS AGAINST SOUTH AFRICA",
"body": "The United States and Britain\nserved notice that they would block a move in the\nU.N. Security Council to impose sanctions against South Africa\nin a bid to end its rule of Namibia (South West Africa).\n Their vetoes would repeat the joint action they took on\nFebruary 20 to bar selective sanctions against Pretoria over\nits apartheid policy.\n \"Measures of this sort would be counterproductive, giving\nSouth Africa the excuse to remain intransigent,\" John Birch, the\nBritish delegate, said. Vernon Walters, the U.S.\nrepresentative, said Washington flatly opposed mandatory\nsanctions.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 12:06:57.35",
"organisations": [
"un"
],
"places": [
"usa",
"uk",
"south-africa",
"namibia"
],
"id": "15693"
},
{
"title": "FRANCE'S BALLADUR SAYS TARGET ZONE NOTION NEARER",
"body": "French Finance Minister Edouard\nBalladur said that the financial community is closer to\narriving at a system of target zones for currencies despite the\nfact that little is being said about them.\n Speaking with reporters at the semiannual meetings of the\nInternational Monetary Fund, Balladur said, \"We are not very far\nfrom the notion of target zones, even if we don't say so.\"\n He told reporters that \"our ideas are progressing,\" adding\nthat the finance ministers have been talking about more\ncooperation on economic policies and on levels around which\ncurrencies should stabilize.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:10:40.23",
"topics": [
"money-fx"
],
"organisations": [
"imf"
],
"places": [
"usa",
"france"
],
"id": "15694"
},
{
"title": "STUDENT LOAN MARKETING ASSOCIATION <SLM> 1ST QTR",
"body": "Shr 95 cts vs 71 cts\n Net 42.4 mln vs 34.5 mln\n Assets 18.61 billion vs 15.66 billion\n Reuter\n\u0003",
"date": " 9-APR-1987 12:11:13.17",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15695"
},
{
"title": "FIRE AT TATE/LYLE LONDON JETTY HALTS UNLOADING",
"body": "No raw sugar is being unloaded at Tate\nand Lyles refinery at Silvertown on the River Thames following\na fire yesterday afternoon, Tate and Lyle Plc said.\n The fire destroyed a large sector of the main conveyor from\nthe raw sugar jetty to the weighhouse.\n The company said it is not yet known how long the jetty\nwill be out of use but it hoped that by tomorrow unloading of\nthe bulk carrier Mykon Wave will be able to continue using\ntemporary arrangements, Tate and Lyle said.\n The Mykon Wave arrived in the port recently with about\n18,300 tonnes of bulk sugar from Maputo in Swaziland. About\n1,600 tonnes remain to be discharged.\n Five other ships loaded with raw sugar are awaiting at\nSilvertown to be discharged, Tate and Lyle added.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:11:30.14",
"topics": [
"sugar",
"ship"
],
"places": [
"uk"
],
"id": "15696"
},
{
"title": "MAY STORES <MA> MARCH SALES RISE 3.5 PCT",
"body": "May Department Stores Co said sales\nfor March rose 3.5 pct to 885.4 mln dlrs from 855.2 mln dlrs\nfor the five-week period ended April 4.\n It said a major factor in March was the absence of Easter\nsales, which will be three weeks later this year than last\nyear.\n For the first two months of fiscal 1987 sales were 1.52\nbillion dlrs, up eight pct from 1.40 billion dlrs a year ago.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:14:06.75",
"places": [
"usa"
],
"id": "15697"
},
{
"title": "JP INDUSTRIES <JPI> CONFIRMS PROPOSAL",
"body": "JP Industries Inc confirmed the\nannouncement by Clevite Industries Inc <CLEV> that JP\nIndustries has submitted a proposal to Clevite for the\nacquisition of the company at 13.50 dlrs per share in cash.\n John Psarouthakis, chairman and president of JP Industries,\nsaid that the company hopes to promptly negotiate an agreement\nwith the special committee of Clevite's board.\n In February, JP Industries said it purchased Clevite's\nengine parts division.\n JP Industries said it is not aware of any other reason for\nactivity in its stock.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:15:02.29",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15698"
},
{
"title": "<SCI HOLDINGS INC> DISCUSSES JOINT VENTURE PACT",
"body": "SCI Holdings Inc and its unit Storer\nCommunications Inc said they are negotiating with <The Gillet\nGroup> to create a new entity, jointly owned by SCI and Gillet,\nto own and operate six of Storer's television stations, Storer\nTelevision sales and Storer's Washington News Bureau.\n SCI said the six stations involved include WAGA-TV,\nAtlanta, WJW-TV, Cleveland, WJBK-TV, Detroit, and WITI-TV,\nMilwaukee, all CBS Inc <CBS> affiliates, NBC affiliate KCST-TV,\nSan Diego and WSBK-TV, Boston, an independent station.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:15:25.50",
"places": [
"usa"
],
"id": "15699"
},
{
"title": "GENCORP <GY> EXTENDS SHAREHOLDER RIGHT PLAN",
"body": "GenCorp Inc said its board extended\nto April 13 the date the rights issued under the company's\nshareholder rights plan will trade separately from the common\nstock.\n The company said the plan, originally adopted February 18,\nhas been extended several times since its adoption.\n GenCorp said the rights plan makes it more difficult for an\noutside company or person to takeover the company. The plan has\nbeen extended indefinitely and to no person acquiring 20 pct or\nmore of the common stock prior to April 13, the company said.\n The plan calls for the attachment of one preferred stock\npurchase right to each common share outstanding.\n On Monday, GenCorp announced it will buy up to 54 pct of its\nown outstanding common shares for 130 dlrs per share. It said\ndetails of the plan will be announced by the end of the week.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 12:15:42.08",
"places": [
"usa"
],
"id": "15700"
},
{
"title": "U.S. TAX INCREASE PROPOSED ON BEER AND WINE",
"body": "Rep. Anthony Beilenson, D-Cal, said\nhe introduced legislation to triple the federal excise taxes on\nbeer and on two types of wine which have the least alcohol.\n His bill would raise the tax on beer from nine dlrs to 27\ndlrs per 31-gallon barrel, an increase of about 32 cents per\nsix pack. The tax on the two types of wine would go from 17\ncents to 51 cents per gallon and from 67 cents to 2.01 dlrs per\ngallon respectively, he said in a statement.\n \"Raising the tax rates on beer and wine is an entirely\njustifiable means of reducing the deficit. It would also\nmodestly discourage excessive drinking,\" Beilenson said.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:16:01.16",
"places": [
"usa"
],
"id": "15701"
},
{
"title": "MEDITRUST <MTRUS> RAISES QUARTERLY",
"body": "Qtly div 43 cts vs 38 cts prior\n Pay May 15\n Record April 30 \n Reuter\n\u0003",
"date": " 9-APR-1987 12:16:05.98",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15702"
},
{
"title": "MONSANTO <MTC> UNIT SEES OPERATING LOSS IN 1987",
"body": "Monsanto Corp's G.D. Searle and Co unit\nsaid it will report an operating loss for 1987, mainly due to\nexpenses for research and development.\n Searle chairman Sheldon Gilgore said Searle's operating\nloss in 1987 will be less than the 87 mln dlr operating loss in\n1986.\n He said Searle's first quarter sales will be up 21.8 pct to\n179 mln dlrs from 147 mln dlrs in the year ago quarter. In 1986\nSearle's sales were 665 mln dlrs.\n Gilgore said the company intends to have sales of three\nbillion dlrs by the mid-1990s.\n He said the company anticipates approval in Japan, the\nU.S., Italy, Spain and the U.K. for its ulcer treatment drug\nCytotech.\n He also said that in a paper not yet published the drug was\nshown to prevent a flare-up of ulcers for a longer period of\ntime than Tagamet, made by SmithKline Beckman Corp <SKB>.\n Other drugs in Searle's pipeline include tissue plasminogen\nactivator (TPA), made by a different process than Genentech's\n<GENE> TPA, expected to be approved for marketing this year.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 12:16:15.79",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15703"
},
{
"title": "STATUS GAME CORP <STGM> 3RD QTR FEB 28 NET",
"body": "Oper shr six cts vs one ct\n Oper net 194,109 vs 28,751\n Revs 2,731,688 vs 347,134\n Avg shrs 3,360,527 vs 2,295,359\n Nine mths\n Oper shr 11 cts vs five cts\n Oper net 356,571 vs 111,545\n Revs 5,923,907 vs 1,491,852\n Avg shrs 3,296,982 vs 2,289,762\n NOTE: Share adjusted for 10 pct stock dividend in December\n1986. Prior year net excludes tax credits of 5,775 dlrs in\nquarter and 17,325 dlrs in nine mths.\n Net excludes discontinued amusement game operations gains\n144,095 dlrs vs 70,194 dlrs in quarter and loss 2,952,814 dlrs\nvs gain 196,872 dlrs in nine mths.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:16:57.43",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15704"
},
{
"title": "INT'L SURGICAL <SURG> TO OFFER TEST",
"body": "International Surgical and\nPharmaceutical Corp said it will offer diagnostic testing\nservices to hospitals, clinics and private medical practices in\nthe metropolitan New York area.\n The company said it has leased a vascular diagnostic\ntesting mobile unit to conduct a test for early indicators of\npotential stroke.\n Medicare/Medicaid and other insurance programs have\napproved the test and are paying up to 500 dlrs for the\ndiagnostic procedures, it said.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:17:03.84",
"places": [
"usa"
],
"id": "15705"
},
{
"title": "EUROPEAN AIRLINES REPORT RECORD PASSENGER RESULTS",
"body": "European airlines, hit by a drop in\nbusiness across the North Atlantic for much of last year, today\nreported record passenger traffic for February.\n The 21-member Association of European Airlines said\npassenger traffic in February was 11 pct higher than a year\nearlier, allowing carriers to fill just under 60 pct of seat\ncapacity, the highest ever recorded in the month.\n On the North Atlantic route, where 1986 business suffered\nbecause American visitors were deterred by the falling dollar,\nfears of terrorism and the Chernobyl nuclear accident,\npassenger traffic was up 15.5 pct.\n Improvements were also registered on South and\nMid-Atlantic, European, Asian and Middle East routes.\n \"If the momentum is maintained AEA airlines can anticipate\nsustained growth this summer -- in marked contrast to last\nyear,\" Henderson said in a statement.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:17:11.47",
"places": [
"belgium"
],
"id": "15706"
},
{
"title": "UNIVERSAL FOODS CORP <UFC> VOTES DIVIDEND",
"body": "Qtly div 20 cts vs 20 cts prior qtr\n Pay 6 May\n Record 21 April\n Reuter\n\u0003",
"date": " 9-APR-1987 12:17:19.72",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15707"
},
{
"title": "BETZ LABORATORIES INC <BETZ> SETS QUARTERLY",
"body": "Qtly div 35 cts vs 35 cts prior\n Pay May 14\n Record April 30\n Reuter\n\u0003",
"date": " 9-APR-1987 12:17:28.07",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15708"
},
{
"title": "NORTHWESTERN NATIONAL LIFE <NWNL> UPS PAYOUT",
"body": "Qtly div 24 cts vs 21-1/2 cts prior\n Pay May 15\n Record April 24\n NOTE: Northwestern National Life Insurance Co.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:17:51.05",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15709"
},
{
"title": "GRAIN SHIPS WAITING AT NEW ORLEANS",
"body": "Ten grain ships were loading and 14\nwere waiting to load at New Orleans elevators, trade sources\nsaid.\n ELEVATOR LOADING WAITING\n Continental Grain, Westwego 1 6\n Mississippi River, Myrtle Grove 1 0\n ADM Growmark 1 4\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 0\n CARGILL GRAIN, TERRE HAUTE 2 1\n CARGILL GRAIN, PORT ALLEN 0 0\n ZEN-NOH 1 2\n reuter\n\u0003",
"date": " 9-APR-1987 12:19:02.04",
"topics": [
"grain",
"ship"
],
"places": [
"usa"
],
"id": "15710"
},
{
"title": "CENTEL <CNT> SELLS DEBENTURES AT 9.233 PCT",
"body": "Centel Corp is raising 50 mln dlrs\nthrough an offering of debentures due 2017 yielding 9.233 pct,\nsaid lead manager Smith Barney, Harris Upham and Co Inc.\n The debentures have a 9-1/8 pct coupon and were priced at\n98.90 to yield 117 basis points over comparable Treasury\nsecurities.\n Non-callable for five years, the issue is rated A-3 by\nMoody's Investors Service Inc and A by Standard and Poor's\nCorp.\n E.F. Hutton and Co Inc and UBS Securities Inc co-managed\nthe deal.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:19:19.05",
"places": [
"usa"
],
"id": "15711"
},
{
"title": "AMES DEPARTMENT STORE <ADD> MARCH SALES UP",
"body": "Ames Department Stores Inc\nsaid sales for the five weeks ended April Four were up 8.2 pct\nto 164.0 mln dlrs from 151.6 mln dlrs a year earlier, with\nsame-store sales up 6.5 pct.\n The company said for the first nine weeks of its fiscal\nyear, sales were up 16.3 pct to 277.6 mln dlrs from 238.7 mln\ndlrs a year before, with same-store sales up 14.5 pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:20:52.04",
"places": [
"usa"
],
"id": "15712"
},
{
"title": "FOOTHILL <FGI>, SIERRITA IN STANDSTILL ACCORD",
"body": "Foothill Group Inc said it reached a\nstandstill agreement with Santa Cruz Resources Inc and its\nparent, Sierrita Resources Inc, that bars the companies from\nacquiring more than a 30 pct interest in Foothill, except\nthrough a business combination approved by Foothill's board.\n The company also said Santa Cruz has advised it that it\nowns 24.7 pct of Foothill's outstanding common stock.\n In addition, Santa Cruz and Sierrita have agreed to vote\ntheir shares in accordance with instructions from the Foothill\nboard in connection with certain business combinations and\ncertain anti-takeover matters, Foothill said.\n Foothill said the arrangement also bars Santa Cruz and\nSierrita fron tendering any Foothill securities owned by them\ninto any tender offer unless certain unspecified conditions are\nmet.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:21:45.90",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15713"
},
{
"title": "SHOE-TOWN <SHU> MARCH SALES RISE 19 PCT",
"body": "Shoe-Town Inc said sales for the\nfive weeks ended April four, 1987 rose 19 pct to 16.8 mln dlrs\nfrom 14.1 mln dlrs a year ago.\n It said year-to-date rose 19.4 pct to 36.3 mln dlrs from\n30.4 mln dlrs a year ago.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:22:06.23",
"places": [
"usa"
],
"id": "15714"
},
{
"title": "FIRST FEDERAL OF MICHIGAN <FFOM> 1ST QTR NET",
"body": "Shr 3.33 dlrs vs 3.39 dlrs\n Net 37,069,000 vs 36,902,000\n Avg shrs 10.95 mln vs 10.05 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 12:22:10.55",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15715"
},
{
"title": "WASTE RECOVERY <WRII> IN DEAL WITH BLUE CIRCLE",
"body": "Waste Recovery Inc said it has received\nan exclusive license to use <Blue Circle Industries PLC's>\nrefuse-derived fuel technology in the U.S.\n The company said it plans to modify a 750 short ton per day\nresource recovery plant in Miami to use the technology and will\nsell refuse-derived fuel from the Miami plant to Lone Star\nIndustries Inc's <LCE> Hialeah, Fla., cement plant, to take the\nplace of about 20 pct of the Hialeah plant's coal usage.\n Waste Recovery said initial demonstration trials are\nscheduled for the fourth quarter.\n Waste Recovery said it also plans to build two new scrap\ntire processing plants to produce tire-derived fuel in Atlanta\nand in the Philadelphia area. It said Goodyear Tire and Rubber\nCo <GT>, its main shareholder, has agreed to supply Waste\nRecovery with scrap tires for raw materials for fuel.\n It said tire-derived fuel trials by major cement and paper\ncompanies in the Southeast are scheduled for the second and\nthird quarters of 1987, with fuel for the trials to come from\nits Houston plant.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:22:19.83",
"places": [
"usa"
],
"id": "15716"
},
{
"title": "COLONIAL BANCGROUP <CLBGA> MAKES ACQUISITION",
"body": "Colonial BancGroup said it has\nsigned letter of intent to acquire Community Bank and Trust of\nHartselle, Ala., with assets of 26 mln dlrs, for undisclosed\nterms, subject to approval by regulatory authorities and\nCommunity Bank shareholders.\n Completion is expected within the next year, it said.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:22:27.51",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15717"
},
{
"title": "U.S. TO PUSH STRONG SUMMIT AGRICULTURE STATEMENT",
"body": "The United States will push for a\nstrong statement from Western heads-of-state at the June\neconomic summit in Venice, urging \"comprehensive\" negotiations\non agriculture begin immediately to reduce domestic farm\nsubsidies, the senior U.S. planner for the summit said.\n \"Agriculture has really become the number one international\neconomic problem,\" Allen Wallis, undersecretary of state for\neconomic affairs, told Reuters in an interview.\n At the Tokyo economic summit last year, western leaders\nidentified agriculture as a major international problem but\nmade no specific recommendations.\n This year, Wallis said the U.S. will press for a statement\ninstructing trade ministers to begin negotiating on the issue,\nand include domestic programs.\n While the Western leaders, including president Reagan, will\nnot conduct specific negotiations, Wallis said they can give a\npush to the agriculture talks under the General Agreement on\nTariffs and Trade (GATT).\n Wallis said the leaders should endorse a \"comprehensive\"\nnegotiation, which is interpreted as including domestic\npolicies as well as import restraints and export subsidies.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:23:08.98",
"organisations": [
"gatt"
],
"places": [
"usa"
],
"id": "15718"
},
{
"title": "FAB INDUSTRIES INC <FIT> 1ST QTR FEB 28 NET",
"body": "Shr 69 cts vs 67 cts\n Net 2,488,000 vs 2,435,000\n Revs 27.6 mln vs 26.5 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 12:24:24.55",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15719"
},
{
"title": "EC COMMISSION AUTHORISED TO BUY MAIZE IN JUNE",
"body": "The European Commission was authorised\nto buy up to one mln tonnes of maize into intervention stores\nin the second half of June, although sales into intervention\nnormally end on April 30, Commission sources said.\n They said approval was given by the EC's Cereals Management\nCommittee because of the possible disturbance of the market due\nto heavy imports of maize under the agreement between the EC\nand the United States.\n The agreement guarantees access to the Spanish market for\ntwo mln tonnes of non-EC maize a year for the next four years.\n The sources said the intervention price for the maize would\nbe 201.49 Ecus a tonne.\n They said at this price it seemed unlikely that the full\n They added the decision is also designed to prevent massive\noffers of maize for intervention just ahead of the normal April\n30 deadline, which could be caused by speculation about the\nimplementation of the accord with the United States.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:25:09.67",
"topics": [
"grain",
"corn"
],
"organisations": [
"ec"
],
"places": [
"belgium"
],
"id": "15720"
},
{
"title": "JAPAN BUYS 5,000 TONNES CANADIAN RAPESEED",
"body": "Japan bought 5,000 tonnes Canadian\nrapeseed overnight at an undisclosed price for May shipment,\ntrade sources said.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:26:05.53",
"topics": [
"oilseed",
"rapeseed"
],
"places": [
"canada",
"japan"
],
"id": "15721"
},
{
"title": "CORROON/BLACK <CBL> SAYS UNIT IN LLOYD'S FUND",
"body": "Corroon and Black Corp said <Minet\nHoldings PLC>, of which it owns 25 pct, agreed to participate\nin a 103 mln stg fund set up by Lloyd's of London to cover part\nof the claims faced by PCW underwriting agencies.\n The company said Minet and several other companies were\ninvolved in the syndicate, which faces 235 mln stg in claims\ndue to fraud and mismanagement.\n The fund was proposed by Lloyd's to cover a portion of the\nclaims in return for a contribution of 34 mln stg from PCW\nmembers. The offer is subject to acceptance by 90 pct of the\nPCW members by May 30.\n Lloyd's 103 mln stg offer, including 48 mln stg from\nLloyd's and 55 mln stg from brokers, is designed to cover the\nreinsurance costs on the 235 mln stg of net liabilities.\n Minet was unable to disclose the amount of its proposed\ncontribution to the fund, Caroon and Black said. However, Minet\nwas confident that the losses could be funded from existing\ncash resources.\n Under the terms proposed, Lloyd's would take over all\nmembers' future obligations connected with PCW, and members\nwould agree not to pursue the matter in court.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:26:18.04",
"places": [
"usa"
],
"id": "15722"
},
{
"title": "NORTHERN TRUST CORP <NTRS> 1ST QTR NET",
"body": "Shr 87 cts vs 73 cts\n Net 14.7 mln vs 11.7 mln\n Assets 8.38 billion vs 7.43 billion\n Loans 3.91 billion vs 3.40 billion\n Deposits 5.60 billion vs 5.08 billion\n Reuter\n\u0003",
"date": " 9-APR-1987 12:26:59.75",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15723"
},
{
"title": "RIO TINTO SEES MODEST INCREASE IN METALS DEMAND",
"body": "The consumption of some base metals,\nalong with dollar prices, are showing signs of modest\nimprovement, according to Rio Tinto-Zinc Corp Plc (RTZ).\n However, the company said, iron ore markets have weakened.\n RTZ commodity specialist Philip Crowson told reporters he\nthought base metals industry forecasts for 1987 were erring on\nthe side of caution, whereas forecasts for the last several\nyears had proven over-optimistic.\n RTZ said it expected to benefit from a rise in U.S. And\nindustrial production in 1987. Earlier, RTZ reported 1986 net\nattributable profit of 245 mln stg against 257 mln in 1985.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:27:18.43",
"places": [
"uk"
],
"id": "15724"
},
{
"title": "COLOMBIA JAN EXPORTS UP BUT COFFEE VALUES FALL",
"body": "The value of colombian exports other than\ncoffee rose 55 pct in january compared with the same period\nlast year, apparently setting a trend for the trade balance in\n1987, government statistics institute figures show.\n They amounted to 180.8 mln dlrs fob compared with 147.5 mln\ndlrs for coffee, a drop of 42 pct from last year.\n The trade balance registered a 35 mln dlr surplus, compared\nwith a 56 mln dlr surplus in january 1986.\n The national planning department forecast that in 1987\ncoffee, colombia's traditional major export, will account for\nonly one-third of total exports, or about 1.5 billion dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:27:28.71",
"topics": [
"trade",
"coffee"
],
"places": [
"colombia"
],
"id": "15725"
},
{
"title": "LONDON GRAIN FREIGHTS",
"body": "27,000 long tons\nUSG/Taiwan 23.25 dlrs fio five days/1,500 1-10/5 Continental.\n Trade Banner - 30,000 long tons grain USG/Morocco 13.50\ndlrs 5,000/5,000 end-April/early-May Comanav.\n Reference New York Grain Freights 1 of April 8, ship\nbrokers say the vessel fixed by Cam from the Great Lakes to\nAlgeria at 28 dlrs is reported to be the Vamand Wave.\n Reference New York Grain Freights 2 of April 8, they say\nthe Cory Grain maize business from East London at 22 dlrs is to\nJapan and not to Spain as reported.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:28:32.31",
"topics": [
"grain",
"ship"
],
"places": [
"uk"
],
"id": "15726"
},
{
"title": "LONDON SUGAR FREIGHTS",
"body": "TBN 14,00 mt bulk sugar\nFiji/Prai 16 dlrs fio 10,000/1,000 1-10/5 Fiji Sugar Marketing.\n TBN 15,000 mt bulk sugar Queensland/Japan 14.65 dlrs fio\n10,000/1,000 20-30/4 CSR.\n ENQUIRIES - Antwerp/1-3 ports Greece 40,000 mt bagged sugar\nindications 750/750 in shipments of 10,000/15,000 tonnes spread\nfrom May to July a/c unnamed charterer.\n Inchon/India 12,600 mt bagged sugar 1,000/1,000 20/4-5/5\na/c Kaines.\n Reunion/1-2 ports Portugal 10,000 mt bulk sugar about 20\ndlrs 2,000/750 1-10/5 a/c French charterer.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:28:41.26",
"topics": [
"sugar",
"ship"
],
"places": [
"uk"
],
"id": "15727"
},
{
"title": "LONDON GRAIN FREIGHT ENQUIRIES",
"body": "Antwerp/Libya 5,500 mt bagged flour 14\ndaps 24-27/4.\n New Orleans/Guanta 9,387 mt bulk hss 3,000/13 days\n25-4/5-5.\n Naantali/Saudi Red Sea 30,000/35,000 mt barley 4,000/3,000\n20-30/4 or early May.\n Dunkirk/Xingang 12,000 mt bagged flour 1,500/1,700 13-20/4.\n Toledo/Seaforth 17,000 mt hss offers 18.50 dlrs four\ndays/8,000 13-15/4.\n River Plate/Malaysia 20,000/22,000 long tons hss\n2,000/2,000 Apr.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:28:56.64",
"topics": [
"grain",
"ship",
"wheat",
"barley"
],
"places": [
"uk"
],
"id": "15728"
},
{
"title": "HOME SAVINGS BANK <HMSB> 1ST QTR NET",
"body": "Shr 51 cts vs not given\n Net 6,089,000 vs 7,310,000\n NOTE: Company went public in November 1986.\n Net includes loan loss provisions of 75,000 dlrs vs 30,000\ndlrs and gains on sale of securities of 756,000 dlrs vs\n2,468,000 dlrs pretax.\n 1986 net includes tax credit 1,022,000 dlrs.\n 1987 net includes 2,400,000 dlr gain from tax credit\nresulting in reduction of goodwill.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:29:47.99",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15729"
},
{
"title": "ISRAEL IN NINTH AIR RAID OVER LEBANON THIS YEAR",
"body": "Israeli helicopter gunships attacked\nPalestinian guerrilla positions near Sidon in southern Lebanon\ntoday in the ninth air raid over Lebanon this year, the\nmilitary spokesman said.\n \"All our aircraft returned safely to base and the pilots\nreported accurate hits,\" he said. The aircraft returned ground\nfire, he said.\n The targets, three buildings on the outskirts of Ain\nel-Hilweh refugee camp, were command posts for planning\nguerrilla attacks, the military said.\n The army says Israel's air raids on its northern neighbour,\naveraging two a month, are aimed mostly at Palestinian\nguerrilla bases, weapons depots and launching posts for attacks\nagainst Israel.\n The last Israeli Air Force attack was on March 23.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:30:13.79",
"places": [
"israel",
"lebanon"
],
"id": "15730"
},
{
"title": "ROSS STORES <ROST> FIVE WEEK SALES UP FIVE PCT",
"body": "Ross Stores Inc said its\nfive-week sales for the period ended April 4 totaled 44 mln\ndlrs, up five pct from a year earlier.\n The company said for the two months ended April 4, sales\ntotaled 85 mln dlrs, up nine pct from a year ago.\n Ross stores operates 121 retail stores. It closed 25 of its\nstores earlier this year.\n It said comparing sales to a year ago, not counting the 25\nstores now closed, sales were up 22 pct in the five-week period\nand up 29 pct in the two month period.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:31:07.59",
"places": [
"usa"
],
"id": "15731"
},
{
"title": "AMOSKEAG BANK SHARES INC <AMKG> 1ST QTR NET",
"body": "Shr 70 cts vs 67 cts\n Net 6,416,000 vs 6,057,000\n NOTE: Net includes pretax securities sales gains of\n5,900,000 dlrs vs 5,900,000 dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:31:43.92",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15732"
},
{
"title": "MSR EXPLORATION LTD <MSR> YEAR LOSS",
"body": "Shr loss five cts vs profit 10 cts\n Net loss 381,391 vs profit 736,974\n Revs 6,161,391 vs 9,241,882\n NOTE: Canadian dollars.\n Proved oil reserves at year-end 3.3 mln barrels, up 39 pct\nfrom a year earlier, and natural gas reserves 4.7 billion cubic\nfeet, off nine pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:32:05.53",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15733"
},
{
"title": "SEARS <S> SALES REFLECT COMPETITIVE PRICING",
"body": "Analysts who follow Sears, Roebuck and\nCo said the company's 4.2 pct sales gain in March by its\nMerchandise Group reflects more competitive pricing and\ncontinues a pattern of growth started in late 1986.\n Sears said sales for the five weeks ended April 4 rose to\n2.62 billion dlrs from 2.51 billion dlrs a year earlier.\n Linda Kristiansen of Paine Webber Inc called the numbers\n\"impressive,\" and said she looks for a full-year sales gain of\nfive pct for the nation's largest retailer.\nreuter^M\n\u0003",
"date": " 9-APR-1987 12:35:19.13",
"places": [
"usa"
],
"id": "15734"
},
{
"title": "ISRAELI HELICOPTERS RAID SOUTH LEBANON - RADIO",
"body": "Beirut radio stations said Israeli\nhelicopter gunships raided south Lebanon and that one of the\ncraft was downed.\n State owned Beirut Radio quoted witnesses as saying one\nhelicopter was apparently shot down by heavy anti-aircraft fire\nas it attacked targets in the Ain al-Hilweh area east of the\nport of Sidon.\n The Sunni Moslem Voice of the Homeland radio said the\nhelicopter was seen falling into the sea.\n There was no immediate independent confirmation of the\nreports.\n REUTER\n\u0003",
"date": " 9-APR-1987 12:36:54.14",
"places": [
"israel",
"lebanon"
],
"id": "15735"
},
{
"title": "SOUTHMARK <SM> TO OFFER SPECIAL DIVIDEND",
"body": "Southmark Corp said it will issue its\nshareholders a special dividend right to acquire 22 shares of\nAmerican Realty Trust <ARB> for each 100 shares of Southmark\nthey own.\n Each right entitles the holder to buy one share of\nbeneficial interest of American Realty Trust at a price of 3.75\ndlrs per share, Southmark said.\n Southmark said the offer's record date is May 1, with an\nex-dividend date of April 27, adding that the it will issue the\nrights to shareholders on May 6 and the offer will expire on\nMay 22.\n Southmark said it received the rights on April 6 as the\nholder of about 84 pct of American Realty Trust's outstanding\nshares.\n Holders of fewer than 455 Southmark shares who would\nreceive rights to acquire fewer than 100 American Realty shares\nwill be paid cash in lieu of the rights distribution, the\ncompany said.\n Southmark said it will compute the cash price paid based on\nthe average closing market price of the rights on the American\nStock Exchange for the first ten days the rights are traded,\nbeginning April 6.\n In order to get the dividend for these rights a Southmark\nshareholder must own common stock on the ex-dividend date,\nApril 27, the company said.\n After that, Southmark said its common stock will be traded\non an ex-rights basis.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:37:04.66",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15736"
},
{
"title": "EXPORTS OTHER THAN COFFEE RISE SHARPLY IN COLOMBIA",
"body": "Colombian exports other than coffee rose\n55 pct in January compared with the same period last year,\nfigures from the government statistics institute show.\n Non-coffee exports amounted to 180.8 mln dlrs fob compared\nwith 147.5 mln dlrs for coffee, a drop of 42 pct from last\nyear.\n The trade balance registered a 35 mln dlr surplus, compared\nwith a 56 mln dlr surplus in January 1986.\n The national planning department forecast that in 1987\ncoffee, Colombia's traditional major export, will account for\nonly one third of total exports, or about 1.5 billion dlrs.\n REUTER\n\u0003",
"date": " 9-APR-1987 12:41:45.63",
"topics": [
"trade",
"coffee"
],
"places": [
"colombia"
],
"id": "15737"
},
{
"title": "U.S. TO PUSH STRONG SUMMIT AGRICULTURE STATEMENT",
"body": "The United States will push for a\nstrong statement from Western heads-of-state at the June\neconomic summit in Venice, urging \"comprehensive\" negotiations\non agriculture begin immediately to reduce domestic farm\nsubsidies, the senior U.S. planner for the summit said.\n \"Agriculture has really become the number one international\neconomic problem,\" Allen Wallis, undersecretary of state for\neconomic affairs, told Reuters in an interview.\n At the Tokyo economic summit last year, western leaders\nidentified agriculture as a major international problem but\nmade no specific recommendations. This year, Wallis said the\nU.S. will press for a statement instructing trade ministers to\nbegin negotiating on the issue, and include domestic programs.\n While the Western leaders, including president Reagan, will\nnot conduct specific negotiations, Wallis said they can give a\npush to the agriculture talks under the General Agreement on\nTariffs and Trade (GATT).\n Wallis said the leaders should endorse a \"comprehensive\"\nnegotiation, which is interpreted as including domestic\npolicies as well as import restraints and export subsidies.\n \"They (GATT talks) really have to deal with domestic\npolicies, as well as trade arrangements,\" Wallis said.\n Trade Representative Clayton Yeutter has said a summit\nstatement of support for agriculture talks is part of an\noverall U.S. strategy to build momentum for the GATT farm\ntalks.\n Public statements in recent weeks by several members of the\nReagan cabinet have stressed the agriculture issue.\n Yeutter and Agriculture Secretary Richard Lyng will\nrepeatedly discuss agriculture during a visit to Japan starting\nnext week. Yeutter said agriculture will also be on the agenda\nof the trade ministers \"quadrilateral\" talks among\nJapan, the European Community, the U.S. and Canada this month.\n And the ministerial meeting of the Paris-based Organization\nfor Economic Cooperation and Development, OECD, in May will\nhighlight the agriculture problem, Yeutter said.\n The OECD in May is expected to release a study of domestic\nfarm subsidies which shows that Japan has the highest subsidies\namong industrial countries, but aid to farmers is also generous\nin the EC and United States.\n The controversial OECD study calculated a measure of farm\nsubsidies called the Producer Subsidy Equivalent, PSE, which\nallows farm aid to be compared across countries.\n Some officials including British Agriculture Minister\nMichael Jopling, have said the PSE could be useful as a method\nof negotiating lower domestic farm subsidies worldwide.\n However, the State Department's Wallis said while the PSE\ncan be useful in negotiations, it has shortcomings and \"its not\ndefinitive.\"\n He and other U.S. officials said the Reagan administration\nhas not yet reached a decision on a specific U.S. agriculture\nproposal to present to the GATT.\n \"I would expect it (U.S. proposal) to be in the fall,\"\nafter the series of international meetings, Wallis said.\n At preliminary meetings of the GATT agriculture committee,\nthe United States has pushed for the so-called \"freeze and\nrollback\" approach. Subsidies would first be frozen at current\nlevels, then rolled-back jointly in stages.\n However, the Reagan administration perplexed some trade\nanalysts recently by reacting cooly to a plan by Australian\nprime minister Bob Hawke calling for a similar approach. Hawke\nunveiled a seven-point plan to freeze and subsequently reduce\nthe gap between high farm price supports and world prices.\n Australia is leading a the so-called Cairns group of 13\ncoutries pressing for freer agriculture trade.\n \"The proposals that the so-called Cairns group are coming\nup with seem to be focusing on short-run, quick fixes which is\nnot what we think is what's called for here,\" Wallis said.\n Wallis and other said the U.S. wants a \"long-range\"\nsolution to the agriculture problem.\n U.S. officials also have criticized the Australian proposal\nbecause they said it deals primarily with the difference\nbetween domestic prices and world levels in the EC and U.S.,\nbut fails to focus on the question of market access.\n At the same time the U.S. is rejecting the Australian\n\"quick fix\", Wallis said the U.S. will press at the summit for\na declaration urging that agriculture talks be completed\n\"expeditiously\", or within two years.\n The unstated U.S. strategy, U.S. officials said, is to keep\nthe pressure on the EC this year through the export enhancement\nprogram and lower value of the dollar, in the hope that a\nsweeping agriculture agreement is possible in 1988.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:42:10.84",
"organisations": [
"gatt",
"oecd"
],
"places": [
"usa"
],
"id": "15738"
},
{
"title": "TAFT BROADCASTING <TFB> COMPLETES STATION SALE",
"body": "TVX Broadcast Group Inc\n<TVXG> said it has completed the previously-announced purchase\nof five Taft television stations.\n Last week, TVX said the sale, which was scheduled to close\nthen, had been delayed.\n Taft said the purchase price was 240 mln dlrs, as\npreviously announced. The price is subject to final\nadjustments, Taft said.\n Taft did not indicate the size of the gain, if any, it\nwould post on the sale.\n It said the stations are WTAF-Philadelphia,\nWDCA-Washington, WCIX-Miami, KTXA-Dallas and KTXH-Houston.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:45:02.53",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15739"
},
{
"title": "ISRAELI HELICOPTERS RAID SOUTH LEBANON - RADIO",
"body": "Beirut radio stations said Israeli\nhelicopter gunships raided south Lebanon and that one of the\ncraft was downed.\n State owned Beirut Radio quoted witnesses as saying one\nhelicopter was apparently shot down by heavy anti-aircraft fire\nas it attacked targets in the Ain al-Hilweh area east of the\nport of Sidon.\n The Sunni Moslem Voice of the Homeland radio said the\nhelicopter was seen falling into the sea.\n There was no immediate independent confirmation of the\nreports.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:46:32.34",
"places": [
"israel",
"lebanon"
],
"id": "15740"
},
{
"title": "EC EXPERTS TO STUDY POSSIBLE ACTION AGAINST JAPAN",
"body": "European Community trade experts will\nmeet in Brussels tomorrow to discuss possible EC action against\nJapan over trade, British Prime Minister Margaret Thatcher\nsaid.\n She told Parliament the officials would examine ideas put\nforward by the U.K. Last weekend. \"Trade matters and trade\ninitiatives have to be taken by the Community,\" Thatcher said.\n She said the experts would focus \"on more effective action\nagainst the dumping of components (by Japan), possible\nunbinding of tariffs on certain products (to allow each EC\ncountry to set their own tariffs) ... And measures which might\nbe necessary to avoid diversion if the United States acts\nagainst Japan.\"\n REUTER\n\u0003",
"date": " 9-APR-1987 12:46:47.65",
"organisations": [
"ec"
],
"places": [
"uk",
"japan"
],
"id": "15741"
},
{
"title": "U.S. MARCH RETAIL SALES CUT BY LATE EASTER",
"body": "U.S. retailers' lackluster March sales\nwere due to a late Easter, according to analysts who expect a\nrecovery in April.\n \"Sales look soft because of the Easter shift, but\nunderlying business is better than the numbers indicate,\" said\nBear Stearns analyst Monroe Greenstein.\n Analysts generally average the sales results of March and\nApril to account for the variation of Easter's occurance. This\nyear, Easter is being observed on April 19, which is three\nweeks later than last year.\n Analyst Edward Johnson of Johnson Redbook Associates said\nsales for March rose an unadjusted 2.5 to 3.0 pct, and a\nseasonally adjusted 5.5 pct to six pct, compared to an adjusted\n5.7 pct last year.\n \"The obvious question is whether these numbers indicate\nthat the consumer activity is slowing, but it does not appear\nto be because liquidity and employment are rising,\" said\nanalyst Jeff Edelman, analyst of Drexel Lambert and Burnham.\n Overall, analysts said first half sales are coming in\naccording to expectations. Sales for all of 1987 are expected\nto rise about 5.5 pct to six pct, up a bit from 1986's rise.\n In March, sales of housewares, furniture and big ticket\nitems were stronger than apparel sales, signaling to many\nanalysts that apparel sales will be strong in April as the\nholiday nears.\n \"Sales gains in home appliances and home fashions reflect a\ncontinuing strength in the housing market,\" said Edward\nBrennan, chairman of Sears Roebuck and Co <S> which reported an\noverall sales gain of 4.2 pct. Brennan said sales of women's\nsportswear were also excellent.\n \"Sears' total apparel sales was up only modestly, but even\na modest improvement in apparel is a very good accomplishment\ndue to the fact that most people will buy apparel in April,\"\nsaid C.J. Lawrence analysts Harry Mortner. \n J.C. Penney Co Inc <JCP> and Dayton Hudson Corp <DH> were\namong the weaker performers with comparable stores sales\ndeclining 1.5 pct and 4.9 pct, respectively. Penney's store and\ncatalog sales declined 1.3 pct overall and Dayton Hudson's\noverall sales rose 4.8 pct.\n Penney chairman William Howell said, \"Sales continued\nstrong for catalog operations and, geographically, ranged from\nvery active in the east to weak in the economically depressed\nsouthwest.\"\n \"Penney's been shifting away from leisure time activity\nwear to other apparel lines, which yield higher profit margins,\nbut are currently hurting sales,\" said Greenstein of Bear\nStearns.\n Hudson chairman Kenneth Mackes cited the late Easter for\nthe decline. Edelman of Drexel said that \"Hudson had a tougher\ncomparison because it had an exceptionally good 1986.\"\n Most analysts agreed that promotions are slightly lower\nthan last year.\n \"Retailers are not planning for much - inventories are\nbeing kept lean, markdowns are lower than last year, but sales\nare coming through anyway,\" said CJ Analyst Harry Mortner.\n Mortner said he expects profits in the first quarter to \nbe better than he had originally expected in the beginning of\nthe year.\n Most retailers report their first quarter in the middle of\nMay.\n MARCH RETAIL SALES FOR MAJOR U.S. RETAILERS\n STORE PCT 1987 1986\n SEARS 4.2 2.6 BIL 2.5 BIL \n K MART 4.6 2.2 BIL 2.1 BIL \n JC PENNEY (1.3) 1.1 BIL 1.1 BIL \n WAL-MART 32 1.1 BIL 855 MLN\n FEDERATED 4.9 934 MLN 891 MLN\n MAY 3.5 885 MLN 855 MLN\n DAYTON 4.8 792 MLN 756 MLN\n WOOLWORTH 0.2 591 MLN 590 MLN\n ZAYRE 12.7 522 MLN 464 MLN\n Reuter\n\u0003",
"date": " 9-APR-1987 12:49:07.67",
"topics": [
"retail"
],
"places": [
"usa"
],
"id": "15742"
},
{
"title": "LONDON EURODOLLAR BONDS CLOSE LOWER",
"body": "Eurodollar bonds closed as much as a full\npoint lower as the dollar fell to a post-war low against the\nyen and interest rates on U.S. Treasuries rose almost to eight\npct.\n The dollar fell to 144.30 yen and recovered only slightly\nafter foreign exchange traders in New York said the Federal\nReserve intervened to buy dollars for yen.\n But despite the dollar's woes, Japan Development Bank,\nwholly owned by the Japanese government, raised 150 mln dlrs in\na seven-year eurobond carrying an eight pct coupon.\n Lead manager for the issue, Bank of Tokyo, said the deal,\nat the time of pricing, was to yield 60 basis points over\ncomparable maturity Treasuries. However, by the close of\ntrading, that spread had narrowed to 55 and continued to slide\nin aftermarket activity.\n Dealers noted that the spread to Treasuries is wide for a\nnewly-priced AAA-rated borrower like Japan Development Bank.\nFor example, earlier this week, the World Bank raised U.S. Dlrs\nat only 25 basis points over Treasuries. Dealers said that\nbecause the borrower comes to market fairly infrequently -- the\nlast time was about nine months ago, the spread appears wide.\n But officials at Bank of Tokyo said the spread is intended\nto compensate for the lack of liquidity and for the uncertainty\ncurrently associated with owning dollar securities.\n The officials said the borrower opted to raise funds in\ndollars, despite the currency's weakness, because it is the\nonly market deep enough to accommodate an issue of that size.\nJapan Development Bank is not allowed to raise euroyen.\n Market sources said the deal is likely to be swapped into\nyen as the borrowers previous issues were.\n Late in the day, the deal was trading just inside its fees\nat less 1.75 less 1.55.\n Also issued today was a 40 mln dlr five-year offering from\nToshiba International Finance (Netherlands) carrying a 7-3/8\npct coupon and priced at 101-1/2.\n Three equity linked dollar denominated deals were offered,\nthe largest of which was a 200 mln dlr offering by Sekisui\nChemical Co and guaranteed by Sanwa Bank Ltd. The issue has\nequity warrants attached and late in the day it was quoted on\nbrokers' screens at 106-1/2, bid only.\n The Australian dollar market continued active, with\nCanadian Imperial Bank of Commerce offering a bond of 125 mln\nfive-year with a zero coupon priced at 54.\n Late in the day, the deal was quoted at less 1-1/4 bid. A\nsimilar deal yesterday by Toronto Dominion, priced slightly\nhigher at 54.37 pct for an effective yield of 13.52 pct, was\nquoted slightly lower at less 1.37 less 1.25 pct.\n Dealers said that investors are apparently willing to\naccept zero-coupon bonds yielding 50 to 100 basis points less\nthan annual-pay bonds because their are tax benefits for retail\nbuyers. Also, the bonds are more volatile and if interest rates\nfall in Australia as many analysts expect, the potential for\ncapital gains is greater with a zero-coupon. The bonds are also\nbetter for those who expect the australian dlr to appreciate.\n Dealers said that the Australia dlr zero coupon bonds are\napparently being placed with retail accounts on the European\ncontinent with very little placement being done in Japan.\n Euroyen issues sank slightly in line with prices on\ndomestic Japanese bond markets but recovered in late trade as\nthe yen soared. After the markets closed, the dollar fell to\n144 yen.\n The European Investment Bank (EIB) issued a 40 mln euroyen\nissue paying 4-5/8 pct over seven years. This is the second\nseven-year yen issue in two days -- a sector of the yield curve\nin Japan that dealers feel has not yet become overpriced.\n REUTER\n\u0003",
"date": " 9-APR-1987 12:50:06.54",
"places": [
"uk"
],
"id": "15743"
},
{
"title": "WORLD BANK TO SEND ECONOMIC MISSION TO BRAZIL",
"body": "World Bank President Barber Conable\nsaid his agency plans to send a mission to Brazil next week to\nexplore economic conditions.\n Speaking to reporters at the International Monetary Fund\nand World Bank annual meeting, Conable said that he felt\npositive and optimistic that something between Brazil and its\ncreditors will be worked out.\n Conable met last night with Brazilian officials and told\nreporters that \"We agreed to send a mission to Brazil next week\nto explore further the state of progress and to get\nclarifications.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 12:52:28.80",
"organisations": [
"worldbank",
"imf"
],
"places": [
"usa",
"brazil"
],
"id": "15744"
},
{
"title": "LOWER U.S. FARM PAYMENT BASE EYED FOR SAVINGS",
"body": "Reducing the amount of crop base a\nfarmer can receive deficiency payments on is being looked at as\none way to cut the U.S. agriculture budget for fiscal year\n1988, congressional aides and lobbyists said.\n Rep. Charles Stenholm (D-Tex.) has suggested that the\nplanted crop base a producer receives deficiency payments on be\nreduced by five pct, an aide to Stenholm said.\n The aide said no official proposal has yet been drawn up,\nbut that as it becomes more clear exactly how much agriculture\nspending will have to reduced, specific numbers will be\ndiscussed and a proposal could \"very likely\" be drafted.\n Under the proposal, if a farmer idled 20 pct of his acreage\nbase and was eligible to plant the remaining 80 pct, he would\nreceive payments on only 75 pct of his total base.\n Current regulations provide farmers with deficiency\npayments on 100 pct of their non-idled acreage.\n Reducing the payment base by five pct could save around 400\nto 500 mln dlrs, but would have to be applied to the 1987 crop\nprograms in order for any savings to accrue in fiscal year\n1988, an Agriculture Department economist said.\n Stenholm's aide said when the proposal is officially\noffered, it would likely be an amendment to the budget\nreconciliation bill.\n Other options currently being talked about as a way to cut\none to two billion dlrs from the farm budget include increasing\nacreage reduction programs, limiting farm payments,\nimplementing a 0/92 acreage set-aside program or limiting the\nuse of generic in-kind certificates.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:55:32.09",
"places": [
"usa"
],
"id": "15745"
},
{
"title": "GILLETTE CANADA ISSUES 70 MLN STG BOND",
"body": "Gillette Canada Inc is issuing a 70 mln\nstg bond due October 30, 1993 carrying a coupon of 9-5/8 pct\nand priced at 101-1/2, Morgan Stanley Ltd said as lead manager.\n The issue is guaranteed by Gillette Co and is available in\ndenominations of 1,000 and 5,000 stg. Payment date is April 30\nand there is a long first coupon.\n The issue will be listed in Luxembourg.\n There is a selling concession of 1-1/4 pct and a combined\nmanagement and underwriting fee of 5/8 pct.\n REUTER\n\u0003",
"date": " 9-APR-1987 12:55:42.08",
"places": [
"uk",
"canada"
],
"id": "15746"
},
{
"title": "GILLETTE CANADA ISSUES 70 MLN STG BOND",
"body": "Gillette Canada Inc is issuing a 70 mln\nstg bond due October 30, 1993 carrying a coupon of 9-5/8 pct\nand priced at 101-1/2, Morgan Stanley Ltd said as lead manager.\n The issue is guaranteed by Gillette Co and is available in\ndenominations of 1,000 and 5,000 stg. Payment date is April 30\nand there is a long first coupon.\n The issue will be listed in Luxembourg.\n There is a selling concession of 1-1/4 pct and a combined\nmanagement and underwriting fee of 5/8 pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 12:56:59.58",
"places": [
"uk",
"canada"
],
"id": "15747"
},
{
"title": "EC EXPERTS STUDY POSSIBLE ACTION AGAINST JAPAN",
"body": "European Community trade experts will\nmeet in Brussels tomorrow to discuss possible EC action against\nJapan over trade, British Prime Minister Margaret Thatcher\nsaid.\n She told Parliament the officials would examine ideas put\nforward by the U.K. Last weekend. \"Trade matters and trade\ninitiatives have to be taken by the Community,\" Thatcher said.\n She said the experts would focus \"on more effective action\nagainst the dumping of components (by Japan), possible\nunbinding of tariffs on certain products (to allow each EC\ncountry to set their own tariffs) ... And measures which might\nbe necessary to avoid diversion if the United States acts\nagainst Japan.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 12:57:35.57",
"organisations": [
"ec"
],
"places": [
"uk",
"japan"
],
"id": "15748"
},
{
"title": "FIRST INTERSTATE EXPECTS BRAZIL, ECUADOR LOAN ACTIONS TO CUT 1987 NET BY 15.4 MLN DLRS\n",
"date": " 9-APR-1987 12:57:48.41",
"topics": [
"earn"
],
"id": "15749"
},
{
"title": "WORLD BANK TO SEND ECONOMIC MISSION TO BRAZIL",
"body": "World Bank President Barber Conable\nsaid his agency plans to send a mission to Brazil next week to\nexplore economic conditions.\n Speaking to reporters at the International Monetary Fund\nand World Bank annual meeting, Conable said that he felt\npositive and optimistic that something between Brazil and its\ncreditors will be worked out.\n Conable met last night with Brazilian officials and told\nreporters, \"We agreed to send a mission to Brazil next week to\nexplore further the state of progress and to get\nclarifications.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 12:59:16.82",
"organisations": [
"imf",
"worldbank"
],
"places": [
"usa",
"brazil"
],
"id": "15750"
},
{
"title": "MOROCCO TENDERS FOR 55,000 TONNES PL 480 SOYOIL",
"body": "Morocco is scheduled to tender April 14\nfor a total of 55,000 tonnes of U.S. soyoil under PL-480 for\nshipments from May through September, private export sources\nsaid.\n The tender calls for shipment of 6,100 tonnes in May,\n12,200 tonnes each in June, July and August and 12,300 tonnes\nin September, they said.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:00:09.79",
"topics": [
"veg-oil",
"soy-oil"
],
"places": [
"usa",
"morocco"
],
"id": "15751"
},
{
"title": "REAGAN DECLARES MAINE DISASTER AREA",
"body": "President Reagan declared that a\nmajor disaster existed in the State of Maine in following\nsevere storms and flooding there, paving the way for federal\nrelief and reconstruction assistance.\n In announcing Reagan's action, the White House said in a\nwritten statement that Androscoggin, Franklin, Kennebec,\nOxford, Penobscot, Piscataquis and Somerset counties would be\neligible for federal aid.\n Those counties were hit by storms and flooding in late\nMarch and early April. \n Reuter\n\u0003",
"date": " 9-APR-1987 13:02:01.12",
"places": [
"usa"
],
"id": "15752"
},
{
"title": "MIDLANTIC CORP <MIDL> 1ST QTR NET",
"body": "Shr diluted 1.18 dlrs vs 1.04 dlrs\n Net 45.0 mln vs 39.2 mln\n Assets 16.7 billion vs 15.2 billion\n Deposits 13.0 billion vs 12.1 billion\n Loans 11.9 billion vs 10.1 billion\n NOTE: Results restated for merger of Midlantic Banks Inc\nand Continental Bancorp Inc on January 30, 1987.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:02:32.87",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15753"
},
{
"title": "YOUNG AND RUBICAM IS DEFENDENT IN ATT <T> SUIT",
"body": "<Worldwide 800 Services Inc>,\nwhose Service 800 unit recently filed a lawsuit against\nAmerican Telephone and Telegraph Co for false advertising and\nanti-competitive practices, said it has named <Young and\nRubicam>, an advertising firm, as a defendent in the case.\n Worldwide said Young and Rubicam designed and placed the\nATT advertisements in question.\n The amended complaint, filed in the U.S. District Court for\nthe Northern District of Illinois Eastern Division, seeks\ninjuctive relief damages, the company said.\n The suit charges Young and Rubicam with misrepresenting\nATT's involvement in the toll-free international dialing\nservice network through a series of false and misleading\nadvertisements.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:05:33.73",
"places": [
"usa"
],
"id": "15754"
},
{
"title": "CANADIAN AIRLINES, FLYING TIGER IN PACT",
"body": "(Canadian Airlines International Ltd)\nsaid it signed an agreement with (The Flying Tiger Line Inc),\nthat will offer Canada's first around-the-world cargo service.\n The service, from Mirabel airport, will link Canada to a\nlarge network of worldwide air freight markets using wide-body\nB747 freighter aircraft, Canadian Airlines said.\n It said the agreement calls for the two companies to share\naircraft capacity on a 50/50 basis and compete independently\nfor cargo on the route.\n The airline said the joint operating agreement will give\nCanadian shippers a fast, reliable and cost effective way of\nmoving their products to major markets, including the U.S.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:05:44.04",
"places": [
"canada"
],
"id": "15755"
},
{
"title": "A.T. BROD NAMES NEW PRESIDENT",
"body": "A.T. Brod and Co Inc, an investment\nbanking firm, said Michael L. Brod has been named president and\nchief operating officer, succeeding his father Albert T. Brod,\nwho remains chairman and chief executive officer.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:05:48.09",
"places": [
"usa"
],
"id": "15756"
},
{
"title": "COMMUNITY BANK SYSTEM INC <CBSI> 1ST QTR NET",
"body": "Shr 46 cts vs 49 cts\n Net 1,101,551 vs 831,398\n NOTE: Share adjusted for two-for-one stock split in May\n1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:05:52.75",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15757"
},
{
"title": "GOLDMAN SACHS SELLS 'PERLS' AT 13-1/4 PCT RATE",
"body": "Sole underwriter Goldman, Sachs and Co\nsaid it is publicly offering 40.05 mln dlrs of principal\nexchange rate linked securities, or \"PERLS,\" due 1991 that it\npurchased from Westinghouse Electric Corp <WX>.\n The securities have a 13-1/4 pct coupon and par pricing.\nInterest will be paid in U.S. dlrs. At maturity, investors will\nreceive the principal amount of their holdings in New Zealand\ndlrs, Goldman Sachs detailed.\n Non-callable for life, the issue is rated A-1 by Moody's\nand AA-minus by Standard and Poor's. PERLS are relatively new \nin the domestic debt market.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:07:04.59",
"places": [
"usa"
],
"id": "15758"
},
{
"title": "FITCHBURG GAS <FGE> RAISES QUARTERLY",
"body": "Qtly div 38 cts vs 35 cts prior\n Pay May 15\n Record May One\n Reuter\n\u0003",
"date": " 9-APR-1987 13:07:11.27",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15759"
},
{
"title": "FITCHBURG GAS <FGE> PLANS TO ISSUE NOTES",
"body": "Fitchburg Gas and Electric Light Co\nsaid its Board of Directors authorized a filing with the\nMassachusetts Department of Public Utilities seeking authority\nto issue up to 27 mln dlrs of long-term notes.\n Proceeds will be used to redeem, after June one, all\noutstanding shares of the company's cumulative preferred stock,\nfour dlr series, redeem certain outstanding long-term\nindebtedness and repay outstanding short-term indebtedness.\n Fitchburg said this would lower its cost of capital in the\nfuture and give the utility an opportunity to reduce existing\nlines of credit.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 13:07:59.65",
"places": [
"usa"
],
"id": "15760"
},
{
"title": "U.S., JAPANESE TRADE OFFICIALS OPEN TALKS",
"body": "A senior Japanese trade official met\nU.S. negotiators in an emergency effort to try to head off new\nhigh American tariffs on Japanese semiconductor goods set to go\ninto effect on April 17.\n The vice minister of Ministry of International Trade and\nIndustry, Makoto Kuroda, flew in from Tokyo for the talks with\nDeputy U.S. Trade Representative Michael Smith.\n A second round of talks is set for tomorrow.\n U.S. officials have said Japan has failed to live up to its\nsemiconductor agreement with the U.S. and there was little that\ncould be done now to avert the 300 mln dlrs in tariffs.\n reuter\n\u0003",
"date": " 9-APR-1987 13:08:25.09",
"places": [
"usa",
"japan"
],
"id": "15761"
},
{
"title": "NORTHERN TRUST <NTRS> NET HURT BY BRAZIL LOANS",
"body": "Northern Trust Corp said its first\nquarter earnings were reduced by 875,000 dlrs by placing 53.2\nmln dlrs of loans to Brazil and six mln dlrs in loans to\nEcuador on a cash basis.\n Should these loans remain on nonperforming basis for the\nrest of 1987, net income for year will be cut by about 3.2 mln\ndlrs, the bank said.\n Earlier it posted net income for the period of 14.7 mln\ndlrs or 87 cts a share, up from 11.7 mln dlrs or 73 cts a\nshare.\n Total nonperforming assets were 114.1 mln dlrs at March 31,\nup from 53.4 mln dlrs at December 31 and 79 mln dlrs at March\n31, 1986 the bank said.\n The provision for loan losses for the first quarter was\neight mln dlrs compared to 11 mln a year ago. Net loan charge\noffs were six mln dlrs, down from 11 mln dlrs a year ago.\n The reserve for loan losses was 78.1 mln dlrs, or two pct\nof outstanding loans, higher than the 56 mln dlrs of 1.65 pct\nof loans outstanding at March 31, 1986.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 13:08:39.86",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15762"
},
{
"title": "GERMAN BANKER CALLS FOR MORE TAX CUTS",
"body": "A further cut in West German taxes to\novercome the current weakness of the domestic economy has been\ncalled for by Thomas Wegscheider, management board chairman of\nBank fuer Gemeinwirtschaft AG.\n He said in an interview due in tomorrow's Die Welt\nnewspaper that tax cuts already decided by the government\nshould be expanded by implementation of the \"Stability Law,\"\nwhich allows tax cuts of up to 10 pct for a limited period.\n Wegscheider also said a temporary rise in state borrowing\nresulting from such cuts would be tolerable, according to\nexcerpts of his remarks released early by Die Welt.\n In line with a pledge made at the Paris monetary conference\nin February, the government announced in March that 5.2 billion\nmarks worth of tax cuts would be added on to reductions of some\nnine billion marks already scheduled for next year.\n Wegscheider said the Bundesbank should pursue its policies\naimed at lower interest rates and said a reduction in money\nmarket rates could encourage private capital market investment.\n Earlier today the Bundesbank's vice-president Helmut\nSchlesinger said the central bank saw no current reason to\nchange its monetary course.\n REUTER\n\u0003",
"date": " 9-APR-1987 13:10:00.69",
"places": [
"west-germany"
],
"id": "15763"
},
{
"title": "GE <GE> GETS PORTUGUESE ENGINE ORDER",
"body": "General Electric Co said it has\nreceived a 60 mln dlr order to provide CF6-80C2 engines for\nthree <Airbus Industrie> A310-300 aircraft bought by TAP Air\nPortugal.\n It said aircraft deliveries are scheduled to start in late\n1988.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:10:07.67",
"places": [
"usa",
"portugal"
],
"id": "15764"
},
{
"title": "SWISS AGREE ON NEW PROSPECTUS RULES FOR NOTES",
"body": "Swiss franc notes issued after May 1 must\nbe provided with a prospectus, virtually erasing the difference\nin information requirements between notes and public bonds,\naccording to a convention drafted by the Bankers' Federation.\n The convention requires that lead managers draw up a\nprospectus naming all syndicate members and providing certain\ndetails about the borrower.\n In contrast to public issues, though, the prospectus must\nmerely be made available to clients on request via all\nsyndicate banks rather than published and distributed in\nprinted form.\n The convention, which was approved by banks earlier this\nmonth, replaces an earlier convention dating from 1984 and\ndeals with what had been widely seen as an increasingly\nanachronistic distinction between notes and public issues.\n Its publication follows a long debate among bankers on the\namount of information that should be provided by borrowers,\nheightened by difficulties with Swiss franc issues here on\nrecent occasions .\n It applies to all notes in units of at least 50,000 Swiss\nfrancs, the usual denomination, which are placed directly with\ncustomers by the syndicate and not quoted on the bourse.\n Anything smaller than 50,000 francs will be governed by the\nunchanged, more demanding rules that apply to public issues.\n Bankers contacted by Reuters said they did not envisage\nthat the new requirement would present them with problems or\npush up fees. Many banks said that they had for some time been\nproviding more than the legal minimum of information.\n Traditionally, notes or private placements, as they were\nalso known, were medium term instruments denominated in 50,000\nfrancs and placed largely with institutional investors.\n They were normally not brought onto the open market and\nnever quoted on the stock exchange.\n But over the years the distinction between notes and the\npublicly quoted and traded bonds gradually broke down. The\nNational Bank therefore last May abolished all remaining\nrestrictions on maturities and denominations which still\nformally divided them.\n However, it was not in the competence of the National Bank\nto rule on prospectuses and banks have since continued largely\nas before: public issues, generally quoted on stock exchanges,\nhave been provided with detailed prospectuses, while notes,\nvirtually always not-quoted, have been equipped only with\n\"information memorandums\" with varying degrees of detail.\n The new convention attempts to put an end to this. It says\neach notes prospectus must contain the following seven points:\n - The precise terms of the issue\n - Details of the company performance if it is more than six\nmonths since the last annual report\n - Naming of all guarantors\n - The source of the information\n - Details of ratings, insofar as they have been made\n - For equity linked notes, details of where the company's\nshares are listed and price high and lows over at least the\nlast three years.\n - That the lead manager has required the borrower to\nprovide information during the lifetime of the notes on the\nprogress of his business.\n According to figures from Swiss Bank Corp, total note\nissues by foreign borrowers reached 18.6 billion Swiss francs\nlast year, compared with 23.6 billion francs borrowed in the\nform of public bonds.\n A majority of the note issues were for Japanese borrowers.\n REUTER\n\u0003",
"date": " 9-APR-1987 13:14:05.13",
"places": [
"switzerland"
],
"id": "15765"
},
{
"title": "BRAZIL GOVERNORS CALL FOR REMOVAL OF FUNARO",
"body": "Brazil's political crisis appears\nto be deepening as powerful state governors are calling for the\nremoval of Finance Minister Dilson Funaro, chief architect of\neconomic policy.\n Commentators said their call, front-page headlines in\ntoday's press, laid bare President Jose Sarney's political\nweakness and highlighted Brazil's economic planning turmoil.\n The demand for Funaro's resignation came last night from\nfour governors with much combined political clout, those of Sao\nPaulo, Rio de Janeiro, Minas Gerais and Mato Grosso do Sul. At\na news conference in Sao Paulo, they delivered a blunt message\n-- the economy was in crisis and they wanted a new ministerial\nteam to shape policy. Otherwise there was a risk of social\nchaos.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:16:46.19",
"places": [
"brazil"
],
"id": "15766"
},
{
"title": "DOE RUN RAISES LEAD PRICE 0.50 CT TO 26.50 CTS",
"body": "Doe Run Company said it is\nincreasing the price of its corroding grade lead by one-half\ncent to 26.50 cents a lb, effective immediately.\n The price is quoted FOB, Herculaneum, Mo., and FOB, Boss,\nMo., with freight allowed for carload quantities.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 13:17:35.88",
"topics": [
"lead"
],
"places": [
"usa"
],
"id": "15767"
},
{
"title": "SPAIN'S FOREIGN RESERVES RISE IN FEBRUARY",
"body": "Spain's foreign reserves rose by 905 mln\ndlrs in February to total 17.05 billion dlrs, compared with\n14.11 billion dlrs in February 1986, Bank of Spain figures\nshow.\n Under a new accounting system introduced this month,\nSpain's foreign reserves now exclude foreign currency held by\nfinancial institutions.\n Under the previous system, Spain's foreign reserves would\nhave risen by 391 mln dlrs in February, taking into account a\nfall of 514 mln dlrs in financial institutions' foreign\ncurrency position.\n In January this year, the Central Bank's foreign reserves\nrose by 143 mln dlrs, while financial institutions' foreign\ncurrency position fell by 118 mln dlrs.\n REUTER\n\u0003",
"date": " 9-APR-1987 13:17:58.58",
"topics": [
"reserves"
],
"places": [
"spain"
],
"id": "15768"
},
{
"title": "<SULPETRO LTD> 1ST QTR JAN 31 LOSS",
"body": "Shr not given\n Net loss 9,900,000 vs loss 17,300,000\n Revs 14.7 mln vs 29.8 mln\n Note: Previous loss restated.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:20:30.37",
"topics": [
"earn"
],
"places": [
"canada"
],
"id": "15769"
},
{
"title": "S/P MAY DOWNGRADE GENERAL INSTRUMENT <GRL>",
"body": "Standard and Poor's Corp said it may\ndowngrade the A-2 commercial paper of General Instrument Corp.\n S and P cited the firm's 80 mln dlr loss for fiscal 1987\nand a 90 mln dlr loss on discontinued micro-electronic and\nopto-electronic businesses and venture investments.\n These losses, coupled with restructuring and re-evaluation\nactions, have led to poor earnings and cash flow since fiscal\n1985. Stockholders equity fell 25 pct since fiscal year-end\n1984 to a 465 mln dlr pro forma level, S and P said.\n S and P said it will assess the effects of management's\nrestructuring plans on credit quality and profit improvement.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:21:43.86",
"places": [
"usa"
],
"id": "15770"
},
{
"title": "GENERAL PHYSICS <GPHY> FORMS NEW UNIT",
"body": "General Physics Corp said it\nhas formed a new business unit called HP Technical Services to\nfurnish health physics technicians and radiological engineers\nand scientists to the electric utility industry for use in\nnuclear power plants.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:22:29.63",
"places": [
"usa"
],
"id": "15771"
},
{
"title": "WESTERN FEDERAL SAVINGS BANK <WFPR> 1ST QTR NET",
"body": "Shr 74 cts vs 92 cts\n Net 1,300,450 vs 1,600,258\n NOTE: Share adjusted for 10 pct stock dividend in July\n1986.\n Company based in Mayaguez, Puerto Rico.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:22:40.81",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15772"
},
{
"title": "FEDERATED GROUP <FEGP> POSTS HIGHER MARCH SALES",
"body": "Federated Group Inc\nsaid its sales for the five weeks ended April five totaled 33.9\nmln dlrs, compared with 33.8 mln during the same period last\nyear.\n Comparable store sales fell eight pct to 29.4 mln dlrs from\n32.1 mln a year earlier, the company said.\n Federated said it now has 65 stores in operation compared\nwith 59 during the like period a year ago.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 13:23:22.34",
"places": [
"usa"
],
"id": "15773"
},
{
"title": "USAIR <U> CUTS ATLANTA COACH FARES",
"body": "USAir Group Inc said it is reducing\ncoach fares up to 62 pct between Atlanta and 21 destinations\nfor travel April 12 through June 15.\n The fares are non-refundable and applicable to roundtrip\nflights. Reservations must be made at least two days in advance\nand tickets purchased within 24 hours after reservations are\nmade, the company said.\n Roundtrip fares between Atlanta and Pittsburgh, for\nexample, would be 178 dlrs instead of 478 dlrs, USAir said.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:24:07.20",
"places": [
"usa"
],
"id": "15774"
},
{
"title": "NUTMEG INDUSTRIES <NUTM> IN LICENSING DEAL",
"body": "Nutmeg Industries Inc said it has\nagreed in principle on a license deal with United Media/United\nFeature Syndicate Inc under which it would have the right to\nsell a line of men's spectator sportswear bearing the\nlikenesses of characters from Charles M. Schulz' \"Peanuts\"\ncomic strip.\n The company said the license runs through December 1988 and\nhas renewal options for two more years.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:24:30.05",
"places": [
"usa"
],
"id": "15775"
},
{
"title": "FIRM TO OFFER TELEVISION PROGRAMMING FOR SHIPS",
"body": "Shipboard Satellite Network Inc <SSN>\nsaid it will offer television service delivered by satellite to\nships at sea beginning June 1.\n The company, whose initial public offering began yesterday,\nsaid its programming will include a mix of general and\nfinancial news, sports and talk shows. In addition, the company\nsaid it plans to offer first-run movies, sports and\nentertainment specials.\n The company said its programming will be transmitted\nseveral times a day to passenger cabins and lounges.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:25:08.01",
"places": [
"usa"
],
"id": "15776"
},
{
"title": "FINAL TEST INC <FNLT> 4TH QTR LOSS",
"body": "Shr loss six cts vs loss 88 cts\n Net loss 123,840 vs loss 1,298,377\n Revs 1,333,416 vs 385,146\n Year\n Shr profit six cts vs loss 1.47 dlrs\n Net profit 124,872 vs loss 2,171,011\n Revs 4,618,232 vs 2,959,141\n Reuter\n\u0003",
"date": " 9-APR-1987 13:25:17.43",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15777"
},
{
"title": "PROTECTIVE LIFE <PROT> IN ACQUISITION",
"body": "Protective Life Corp said it\nhas signed a letter of intent to assume <Liberty Life Insurance\nCo's> group insurance on July 1, subject to regulatory\napprovals.\n Terms were not disclosed.\n\n Reuter\n\u0003",
"date": " 9-APR-1987 13:25:55.30",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15778"
},
{
"title": "DIGITAL COMMUNICATIONS <DCAI> SELLS SWITCHES",
"body": "Digital Communications Associates Inc\nsaid Bank South Corp <BKSO> purchased several of its recently\nintroduced System 9000 intelligent T-1 switching systems.\n DCA said the switching systems will be used to transmit\nvoice and data between the bank's downtown banking location\nhere and its new operations center near Atlanta's Hartsfield\nInternational Airport.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:26:37.87",
"places": [
"usa"
],
"id": "15779"
},
{
"title": "A.O. SMITH CORP <SMC> SETS QUARTERLIES",
"body": "Qtly divs Class A and B 20 cts vs 20 cts\n Pay May 15\n Record April 30\n Reuter\n\u0003",
"date": " 9-APR-1987 13:28:38.94",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15780"
},
{
"title": "SONY CHAIRMAN PLAYS DOWN TRADE CONFLICT",
"body": "Sony Corp <SNE.T> chairman Akio\nMorita played down the U.S.-Japanese trade conflict, saying\nthat direct investment abroad was the most effective way to\nreduce Japan's trade surplus.\n Morita was speaking at the official opening of a 100\nmillion franc (16.4 million dollars) compact disc player\nfactory in eastern France.\n He said trade friction between the U.S. And Japan over\nhigh-technology was a very complicated and delicate issue but\nthat Sony intended to invest directly throughout the world.\n Referring to the European Community's stance against\nturnkey plants, he said: \"I know Brussels is not very favourable\nto these so-called new Japanese 'screwdriver factories', but in\nSony's case our policy is quite different.\"\n The Colmar plant, Sony's third in France, would eventually\nuse local components and be a purely French factory, he said.\n Sony France SA was established in 1973. Its 1986 sales\nwere two billion francs (327 mln dlrs) and the company says it\nexpects sales of 2.7 billion francs (443 mln dlrs) in 1987.\nSony's other two French plants, in the south west of the\ncountry, export over 80 per cent of their production.\n Company officials say that production from Sony's European\nfactories currently accounts for over 30 per cent of the\ngroup's European sales and they expect this to increase. In\n1986 over 20 per cent of Sony's eight billion dollar worldwide\nsales were made in Europe.\n At the beginning of 1987, Sony employed about 1,100 people\nin Europe. The group plans to open a compact disc software\nfactory in Austria this summer and an audio cassette plant in\nItaly next year.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:29:11.48",
"organisations": [
"ec"
],
"places": [
"france",
"usa",
"japan"
],
"id": "15781"
},
{
"title": "CENTRAL BANCORP INC <CBAN> 1ST QTR NET",
"body": "Shr 1.02 dlrs vs 78 cts\n Net 14.4 mln vs 11.0 mln\n NOTE: 1987 net includes gain 2,222,000 dlrs from\ntermination of pension plan.\n Results restated for pooled acquisitions and share adjusted\nfor stock dividends.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:29:40.02",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15782"
},
{
"title": "NEW JERSEY STEEL FILES FOR INITIAL STOCK SALE",
"body": "<New Jersey Steel Corp> said it\nfiled a registration statement with the Securities and Exchange\nCommission for the initial public offering of 1.8 mln shares of\ncommon stock at an estimated price of 20 dlrs to 22 dlrs a\nshare.\n The company said it would sell one mln shares and that <Von\nRoll Ltd>, would sell the remaining 800,000 shares.\n Proceeds from the offering, to be made through an\nunderwriting group managed by PaineWebber Inc, will be used for\ncapital expenditures and repayment of long-term debt owed to\nVon Roll, the company said.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:30:40.86",
"places": [
"usa"
],
"id": "15783"
},
{
"title": "MARS STORES <MXXX> MARCH SALES FALL",
"body": "Mars Stores Inc said sales for\nthe five weeks ended April 4 were off 22.3 pct to 8,242,525\ndlrs from 10.6 mln dlrs a year earlier.\n The company said sales for the first nine weeks of its\nfiscal year were off 14.5 pct to 14.1 mln dlrs from 16.5 mln\ndlrs a year before.\n Results exclude the discontiued Big Value Outlet division,\nit said, and are not directly comparable because Easter fell in\nMarch last year and will fall late in April this year.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:31:56.19",
"places": [
"usa"
],
"id": "15784"
},
{
"title": "<EMCOR> COMPLETES SALE OF STOCK TO INVESTORS",
"body": "Emcore said it completed\nthe sale of 4.1 mln dlrs of stock to Citicorp Venture Capital\nLtd, Concord Ventures of Dillon Read and Co and private\ninvestors.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:32:06.7",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15785"
},
{
"title": "FHLBB HIRES ADVISOR FOR FINANCIAL CORP <FIN>",
"body": "The Federal Home Loan Bank Board\nhas retained Salomon Bros to seek ways to inject new capital\ninto Financial Corp of America, a Financial Corp spokeswoman\nsaid.\n Financial Corp, which recently has held preliminary talks\nwith unidentified parties concerning a possible acquisition of\nthe company, is also negotiating with a firm to advise and\nrepresent it in matters regarding potential acquisition matters\nas they may arise, Financial Corp said last month.\n The Financial Corp spokeswoman said there have been no new\ndevelopments since the company announced the preliminary talks\non March 27.\n Financial Corp, parent of American Savings and Loan\nAssociation, the nation's largest thrift, has repeatedly said\nit would give serious consideration to a merger as a means of\nrapidly improving its capital position.\n The company has also said it would need more than one\nbillin dlrs of capital to bring its regulatory net worth up to\nregulatory requirements.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:37:35.42",
"places": [
"usa"
],
"id": "15786"
},
{
"title": "SEC TO HOLD HEARING AGAINST BROKER",
"body": "The Securities and Exchange Commission\nsaid it will hold a public hearing against Martin Saposnick,\nwho was a co-underwriter of a 1983 public offering of North\nAtlantic Airlines Inc.\n The SEC claims that Saposnick, chairman of Marsan\nSecurities Co Inc, knew the offering prspectus failed to\nadequately disclose the company's delinquent federal and state\ntaxes and its inability to pay debts when due.\n No specific date was set. The SEC said the hearing will\ndetermine whether Saposnick misrepresented compliance with\nNASDAQ and if so, will determine remedial action.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:43:03.75",
"places": [
"usa"
],
"id": "15787"
},
{
"title": "MICHIGAN GENERAL <MGL> EXTENDS EXCHANGE OFFER",
"body": "Michigan General Corp said it\nhas extended its exchange offer for its 10-3/4 pct senior\nsubordinated debentures due December 1, 1988 until April 23.\n It said the offer is being extended to allow it to conclude\ntalks with its lender and with representatives of the holders\nof 75 pct of the debentures on the terms of the offer.\n The holders have indicated their intention to tender and to\nreach an agreement with the company, Michigan General said.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:43:32.14",
"places": [
"usa"
],
"id": "15788"
},
{
"title": "ENDOTRONICS <ENDO> NAMES NEW PRESIDENT",
"body": "Endotronics Inc said Richard\nSakowicz has been named president, chief executive officer and\na director, effective April 13.\n Sakowicz, recently vice president at Control Data Corp\n<CDA>, succeeds John Wright who will be resigning, it said.\n In other action, the company said that Burton Merical has\nbeen retained as a consultant to provide management and\nfinancial advisory services and to act as chief financial\nofficer. Merical has provided consulting services to companies\nwho have successfully reorganized under Chapter 11 bankruptcy\nproceedings, Endotronics noted.\n In late March, Endotronics reported that its auditing firm\nsaid its opinion for the fiscal year ended September 30, 1986\n\"should no longer be relied upon.\" The company also reported at\nthe time, that it was the subject of a formal private\ninvestigation by the Securities and Exchange Commission and the\nFederal Bureau of Investigation.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:44:16.22",
"places": [
"usa"
],
"id": "15789"
},
{
"title": "VLSI TECHNOLOGY INC <VLSI> 1ST QTR NET",
"body": "Shr seven cts vs six cts\n Net 1,612,000 vs 1,406,000\n Revs 38.2 mln vs 34.3 mln\n Avg shrs 23,742,000 vs 22,945,000\n Reuter\n\u0003",
"date": " 9-APR-1987 13:44:42.40",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15790"
},
{
"title": "U.S. HEALTHCARE <USHC> TO RUN HMO IN DELAWARE",
"body": "U.S. Healthcare Inc said it has\nbeen granted a certificate of authority to operate a health\nmaintenance organization in Delaware by the Delaware Department\nof Health and Social Services.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:44:55.31",
"places": [
"usa"
],
"id": "15791"
},
{
"title": "UGANDAN ASKS FOR MORE MONEY TO KEEP up SERVICES",
"body": "Ugandan Finance Minister Chrispus\nKiyonga has asked the National Resistance Council, the\ncountry's interim parliament, to approve 1,000 billion\nshillings (714 mln dlrs) in extra government spending over the\nlast three months of this financial year, council sources said.\n Kiyonga told the council that because of high inflation,\nestimated to be running at over 150 per cent a year, the\ngovernment needed extra money to keep its services running\nuntil the financial year ends on June 30.\n The new appropriation requested by the minister is almost\nas much as the 1,127 billion shillings (805 mln dlrs) the\ngovernment expected to spend during the whole year.\n Kiyonga said the government was having trouble keeping to\nthe deficit target of 350 billion shillings (250 mln dlrs)\ncontained in the original budget announced last August. The\ndeficit was to be financed by borrowing.\n The minister did not give a new budget deficit estimate.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:48:22.87",
"places": [
"uganda"
],
"id": "15792"
},
{
"title": "BELGIAN CURRENT ACCOUNT SURPLUS WIDENS IN 1986",
"body": "Belgium's current account surplus,\nmeasured on a cash basis, widened sharply to 134.9 billion\nfrancs last year from 17.5 billion in 1985, the Finance\nMinistry said.\n The increase was due almost entirely to a sharp rise in the\ngoods trade surplus to 126.1 billion francs from 20.4 billion.\n The services trade surpluses increased to 52.4 billion\nfrancs from 38.9 billion while the deficit on transfers rose\nslightly to 43.6 billion from 41.8 billion.\n Private sector capital operations showed a steeply higher\ndeficit of 160.7 billion francs after 56.9 billion in 1985.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:50:11.12",
"topics": [
"bop"
],
"places": [
"belgium"
],
"id": "15793"
},
{
"title": "WARD CRITICISES GUINNESS'S FEE COMPLAINT",
"body": "Guinness Plc <GUIN.L> director Thomas\nWard told a High Court hearing that the company's action\nagainst him and ex-chairman Ernest Saunders sought to give the\nimpression of an international hunt for Ward's 5.2 mln stg fee\nin connection with the Distillers Co Plc <DIST.L> takeover, the\nPress Association news agency reported.\n In a sworn statement, Ward, a U.S. Lawyer, said Guinness\nhad failed to acknowledge that his attornies in March had\noffered to put the money, less tax and various expenses, into\nan escrow account where it could only be touched under agreed\ncircumstances.\n Ward said Guinness had made a transparent attempt to\nbelittle his services, the PA reported.\n \"I wish to emphasise that the fee paid for my services was,\nwhen considered out of context, admittedly very large.\"\n But every aspect of the (Distillers) bid - the size of the\ntarget, the benefit to Guinness from success, the potential\ndamage from failure, the difficulties of the issues raised and\nthe cost for all services - were not merely large but virtually\nunprecedented in the history of English takeovers,\" Ward said.\n Failure would have cost Guinness between 25 mln stg and 100\nmln stg, he added.\n Ward said it was his idea to have a merger agreement with\nDistillers under which Distillers agreed to pay Guinness's bid\ncosts, the PA reported.\n Ward's statement was read to the court by his lawyer Peter\nCurry. Ward and ex-Guinness chairman Saunders want to end a\ntemporary court freeze of their assets up to the disputed\namount of the 5.2 mln stg fee which Guinness is trying to\nrecover.\n Guinness acquired Distillers in a fierecly fought 2.7\nbillion stg battle during 1986. The U.K. Government is also\nprobing the affair and has yet to report.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:53:30.01",
"places": [
"uk"
],
"id": "15794"
},
{
"title": "MEMBERS OF JAPAN'S RULING PARTY SHUN NAKASONE",
"body": "Members of prime minister Yasuhiro\nNakasone's ruling Liberal Democratic Party (LDP) have shunned\nhis support in their campaigns for upcoming local elections.\n \"His presence will do more harm than good,\" an LDP candidate\nin Tokyo told Reuters. The candidate is one of several\nconservatives who have rebelled and joined the public outcry\nagainst Nakasone's proposal for a five pct sales tax.\n Political analysts said Nakasone might have to step down\nbefore the Venice summit of industrial democracies on June 8-10\nif the LDP lost too many major local seats.\n Nakasone's popularity has dropped sharply since he led his\nparty to its greatest-ever election victory last July, and\nanalysts said the proposed tax was one reason for the decline.\n Over 2,500 local seats will be filled during two rounds of\npolling. The first round is on Sunday, the second on April 26.\n Political analysts said a seat to watch would be the\ngovernorship of Fukuoka, southern Japan. The LDP and two centre\nparties are challenging the incumbent governor, Hachiji Okuda,\nwho is supported by the opposition socialist and communist\nparties.\n The proposed tax is a key campaign issue.\n \"The LDP and the centrist parties should have about\n1,350,000 votes against 700,000 for Okuda. But Okuda is the\nincumbent and has the sales tax weapon,\" said Rei Shiratori,\nprofessor of political science at Dokkyo University.\n \"Nakasone will serve out his term to the end of October if\nthe LDP wins in Fukuoka,\" he said.\n Analysts believe the opposition is likely to win the\ngovernorship of the northern island of Hokkaido.\n But Kenzo Uchida, professor of political science at Hosei\nUniversity, said, \"Nakasone can afford to get fairly tough if\nthe LDP loses only in Hokkaido.\"\n The opposition parties are campaigning to scrap the sales\ntax proposal.\n The tax is one of the main pillars of Nakasone's plan to\noverhaul the tax system, which has remained unchanged for 36\nyears.\n It is also a key element in plans to boost Japanese\ndomestic demand and cut back on exports. Without the tax\nrevenue the government would have less to spend on stimulating\nthe economy.\n REUTER\n\u0003",
"date": " 9-APR-1987 13:54:57.55",
"places": [
"japan"
],
"id": "15795"
},
{
"title": "DENPAC <DNPC> PLACES PROCESSOR ASSEMBLY ORDER",
"body": "Denpac Corp said it placed an\norder for the assembly of the first 100 production units of its\nSinterloy processor, which will begin delivery later this year.\n The company said two pre-production units have been placed\nfor clinical and laboratory evaluations, with an additional six\npre-production units to be placed shortly.\n The company said the Sinterloy processor is used by dental\nlaboratories to fabricate dental appliances such as bridges and\ncrowns.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:55:26.17",
"places": [
"usa"
],
"id": "15796"
},
{
"title": "SILICON SYSTEMS INC <SLCN> 2ND QTR MARCH 28",
"body": "Shr profit five cts vs profit two cts\n Net profit 325,000 vs profit 105,000\n Revs 19.5 mln vs 16.1 mln\n Six Mths\n Shr profit nine cts vs loss 35 cts\n Net profit 627,000 vs loss 2,280,000\n Revs 36.9 mln vs 27.4 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 13:57:37.02",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15797"
},
{
"title": "DISEASE PUTS ZIMBABWE BEEF EXPORTS IN JEOPARDY",
"body": "Zimbabwe's beef exports to the European\nCommunity (EC), potentially worth 70 mln Zimbabwean dlrs this\nyear, may be jeopardised by an outbreak of foot and mouth\ndisease in southwestern Matabeleland, industry sources said.\n The country has temporarily suspended beef exports to the\nEC because of the outbreak and awaits a decision from the EC\nveterinary committee, which is considering a formal ban.\n The outbreak in the country's main ranching province has\nalready led neighbouring beef-producing Botswana and Zambia to\nbar beef and dairy imports from Zimbabwe, threatening the dairy\nindustry with a loss of at least one mln dlrs in export\nrevenue.\n \"The situation is still uncertain at the moment. Normally\nwhen an outbreak occurs there is an automatic suspension of\nbeef exports,\" one industry source said yesterday.\n Commenting on EC policy, he explained, \"Depending on the\nseriousness of the outbreak the (veterinary) committee then\ndecides on three options, allowing us to continue exporting\nbeef from disease-free areas, clamping a three-month suspension\non exports or banning us from exporting for a year. We are\nstill awaiting their decision,\" he added, asking not to be\nidentified.\n Zimbabwe was granted an export quota of 8,100 tonnes of\nhigh-grade beef to EC markets in 1985 after the country had\nspent millions of dollars erecting disease-control fences and\nupgrading abattoirs to meet stringent EC rules.\n Should the EC ban Zimbabwean exports, the country will be\nforced to sell its beef on glutted world beef markets at low\nprices, the source said. Projected earnings from beef sales\ncould fall about 23 mln dlrs as a result, he said.\n Reuter\n\u0003",
"date": " 9-APR-1987 13:59:51.23",
"topics": [
"livestock",
"carcass"
],
"organisations": [
"ec"
],
"places": [
"zimbabwe"
],
"id": "15798"
},
{
"title": "CRAXI SAYS HE IS RESIGNING",
"body": "Italian Prime Minister Bettino Craxi, whose\nfive-party coalition government fell apart yesterday, told the\nSenate he was resigning.\n Craxi said at the end of a Senate (upper house) debate on\nthe government that he would go tonight to hand his resignation\nto President Francesco Cossiga.\n Craxi's government collapsed when the majority Christian\nDemocrats withdraw their 16 ministers from the 30 member\ncabinet yesterday. Craxi had been prime minister for three and\na half years.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:00:39.20",
"places": [
"italy"
],
"id": "15799"
},
{
"title": "SHAWMUT CORP <SHAS> 1ST QTR NET",
"body": "Shr 1.32 dlrs vs 1.26 dlrs\n Net 21.2 mln vs 17.4 mln\n Avg shrs 16.1 mln vs 13.8 mln\n Assets 10.0 billion vs 8.4 billion\n Deposits 7.2 billion vs 6.1 billion\n Loans 6.7 billion up 26 pct\n NOTE: Results restated for pooled acquisitions of Shawmut\nHome Bank and Fidelity Trust Co and include First Gibraltar\nMortgage Corp from December 30, 1986 purchase.\n Loan loss provision 8,800,000 dlrs vs 6,300,000 dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:02:07.80",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15800"
},
{
"title": "MINNTECH <MNTX> SEES FIRST QUARTER LOSS",
"body": "Minntech Corp said it expects\nto report loss for its fiscal 1988 first quarter to end June\n30, due to start-up costs related to a new membrane oxygenator\nand water filtration products.\n However, revenues and earnings should consistently increase\nthroughout the remainder of the year, President Louis Cosentino\ntold analysts.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:02:38.54",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15801"
},
{
"title": "NEW GULF FIGHTING NOT A MAJOR OFFENSIVE - U.S.",
"body": "The United States said a new attack\nby Iran in the Gulf war against Iraq does not appear to be a\nmajor offensive.\n \"We don't believe that what has been called Karbala-8 is a\nmajor offensive,\" State Department spokesman Charles Redman\nsaid.\n He was responding to Iran's announcement that it had\nlaunched its second offensive in three days against Iraq.\n Karbala-8 is the code name for the attack in which both\nsides have reported heavy fighting on the southern front near\nthe major Iraqi port of Basra.\n Redman said the offensive \"appears to have been an Iran\nattack which has not made much of an advance.\"\n Detailed information is lacking, he said, \"but this seems\nto be largely a repetition of the kind of fighting we had seen\npreviously in the same area east of Basra.\"\n Redman restated the U.S. call for an immediate end to\nhostilities and said Washington \"deplored the loss of life in\nthis tragic war.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 14:03:02.99",
"places": [
"usa",
"iran",
"iraq"
],
"id": "15802"
},
{
"title": "GORDEX MINERALS LOCATES GOLD DEPOSITS",
"body": "<Gordex Mineral Ltd>\nsaid geologists located more than one mln tons of gold-bearing\ndeposits, 0.057 ounces per ton, at Cape Spencer.\n The company said it plans to invest 2.5 mln Canadian dlrs\nto expand on-site treatment facilities to process 100,000 tons\nof gold-bearing deposits this year and 200,000 tons in 1988.\n Prior to the completion of the recent exploration program,\nGordex estimated the Cape Spencer deposit had 200,000 tons.\n Gordex said the expansion of the Cape Spencer facilities is\nintented to enable it to operate 24 hours a day throughout the\nyear.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:03:22.55",
"topics": [
"gold"
],
"places": [
"canada"
],
"id": "15803"
},
{
"title": "U.S. CONGRESSMAN INTRODUCES REAGAN SUGAR BILL",
"body": "Rep. John Porter, R-Ill., introduced\nin the House of Representatives legislation proposed by the\nReagan administration to slash the U.S. sugar price support, a\nspokesman for Porter said.\n The spokesman said the bill was introduced without any\nchanges from the administration's proposal sent to Congress\nlast month.\n That plan calls for a cut in the sugar loan rate to 12\ncents per pound from 18 cents now. Sugar growers would be\ncompensated for the price cut with targeted direct payments,\nto be gradually phased-out through 1990. The payments to\ngrowers would cost an estimated 1.1 billion dlrs.\n Representatives of sugar growers have rejected the\nproposal, saying it would ruin the domestic sugar industry.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:05:18.83",
"topics": [
"sugar"
],
"places": [
"usa"
],
"id": "15804"
},
{
"title": "CANADA 91-DAY T-BILLS AVERAGE 6.95 PCT, MAKING BANK RATE 7.20 PCT\n",
"date": " 9-APR-1987 14:06:46.18",
"topics": [
"interest"
],
"places": [
"canada"
],
"id": "15805"
},
{
"title": "HUGHES' <HT> U.S. RIG COUNT RISES TO 752",
"body": "The U.S. drilling rig count rose by four\nlast week to a total of 752, against 987 working rigs one year\nago, Hughes Tool Co said.\n In Canada, the rig count continued falling last week\nbecause of the government's annual springtime ban prohibiting\nheavy equipment from being transported over rain-softened\nhighways. A total of 85 rigs were working in Canada, down 46\nfrom the previous week, Hughes said. At this time last year, a\ntotal of 109 rigs were working in Canada.\n Among individual states, Louisiana and New Mexico each\nreported drilling declines of 10 rigs and Kansas was down by\nseven. Gains were reported in Oklahoma, Wyoming and Texas which\nincreased by 20, seven and one, respectively.\n Hughes said the total of 752 working rigs in the United\nStates included 17 in inland waters, 74 in offshore waters and\n661 on land.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:06:56.79",
"places": [
"usa",
"canada"
],
"id": "15806"
},
{
"title": "REPUBLIC SAVINGS AND LOAN <RSLA> 3RD QTR NET",
"body": "Shr 89 cts vs not available\n Net 1,163,000 vs 466,000\n Nine Mths\n Net 3,696,000 vs 1,624,000\n NOTE: Company converted to stock ownership effective August\n1986.\n Periods end March 31, 1987 and 1986 respectively.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:07:56.77",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15807"
},
{
"title": "SOUTHMARK <SM> TO ISSUE AMERICAN REALTY RIGHTS",
"body": "Southmark Corp said shareholders will be\nissued, as a special dividend, rights to acquire 22 shares of\nAmerican Realty Trust <ARB> for each 100 shares of Southmark\nowned.\n The record date for Southmark shareholders to receive these\nrights will be May one with an ex-dividend date of April 27.\n Southmark received these rights on April six, as the holder\nof about 84 pct of American Realty Trust's outstanding shares.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 14:08:12.82",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15808"
},
{
"title": "ITALIAN TREASURY BILL OFFER MEETS MIXED DEMAND",
"body": "Market response to the Italian Treasury's\n3,000 billion lire offer of short-term bills (BOTs) was mixed,\nwith six month paper oversubscribed but 12-month bills little\nin demand, Bank of Italy figures show.\n Rates were unchanged on those indicated at the time the\noffer was announced on April 4.\n The market was assigned all the 1,500 billion lire worth of\nsix-month bills on offer after requesting a total of 1,660\nbillion. Effective net annualized compound yield on the bills\nis 9.19 pct, against 9.24 pct at the end-March auction.\n Of the 1,500 billion lire of 12-month paper offered,\noperators requested and were assigned 911.975 billion lire at a\nnet annualized compound rate of 9.02 pct.\n The Bank of Italy took up the remaining 588.025 billion\nlire of 12-month paper.\n The bills replace maturing paper worth 2,485 billion lire\nof which 1,985 billion was in the hands of market operators and\nthe remainder with the Bank of Italy.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:08:22.42",
"places": [
"italy"
],
"id": "15809"
},
{
"title": "WALL STREET STOCKS/UAL INC <UAL>",
"body": "Takeover speculation continues to fuel\nheavy trading in UAL Inc, traders said.\n UAL rose 1-5/8 to 73-5/8 on volume of more than two mln\nshares, after trading with little upward movement earlier in\nthe session.\n Traders said rumors, which began yesterday, added to\nspeculation that the company would be the target of a takeover.\n They said it was believed Coniston Partners and the\nPritzker family of Chicago were buying the stock.\n Coniston declined comment and the Pritzkers had no comment.\n Traders said there was speculation a bidder might appear,\nand also that real estate developer Donald Trump, who holds a\nstake in UAL, might participate in a takeover bid. UAL pilots\nsaid they would be willing to pay 4.5 billion dlrs, which\nincludes debt, for the company's United Airlines unit.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:09:16.23",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15810"
},
{
"title": "GORDEX MINERALS LOCATES CANADA GOLD DEPOSITS",
"body": "Gordex Mineral Ltd\nsaid geologists located more than one mln short tons of\ngold-bearing deposits, 0.057 ounces per ton, at Cape Spencer.\n The company said it plans to invest 2.5 mln Canadian dlrs\nto expand on-site treatment facilities to process 100,000 tons\nof gold-bearing deposits this year and 200,000 tons in 1988.\n Prior to the completion of the recent exploration program,\nGordex estimated the Cape Spencer deposit had 200,000 tons.\n Gordex said the expansion of the Cape Spencer facilities is\nintended to enable operation 24 hours a day throughout the\nyear.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:10:48.60",
"topics": [
"gold"
],
"places": [
"canada"
],
"id": "15811"
},
{
"title": "NIGERIA PUTS DOMESTIC OIL SUBSIDY AT 85 PCT",
"body": "NIGERIAN OIL MINISTER RILWANU LUKMAN SAID\nTODAY GOVERNMENT SUBSIDY ON DOMESTIC OIL PRODUCTS HAD RISEN\nFROM 20 TO 85 PCT AFTER THE FLOTATION OF THE NAIRA CURRENCY\nLAST SEPTEMBER.\n THE NAIRA HAS DEPRECIATED BY OVER 60 PCT AGAINST THE DOLLAR\nSINCE IT WAS FLOATED AND THE GOVERNMENT SAYS PETROLEUM PRODUCTS\nHAD BECOME TOO CHEAP ENCOURAGING SMUGGLING TO NEIGHBOURING\nSTATES.\n LUKMAN TOLD REPORTERS DOMESTIC OIL PRICES WERE BEING\nCRITICALLY STUDIED AND A DECISION WOULD BE TAKEN SOON ON\nWHETHER OR NOT TO REDUCE THE SUBSIDY.\n LAST YEAR, THE GOVERNMENT CUT OIL SUBSIDY BY 80 PCT AS PART\nOF ITS ECONOMIC ADJUSTMENT PROGRAM.\n OIL FIRMS HAVE ARGUED THAT THE DEPRECIATION OF THE NAIRA\nHAS MADE FURTHER REMOVAL OF PETROLEUM SUBSIDY NECESSARY.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:11:19.14",
"places": [
"nigeria"
],
"id": "15812"
},
{
"title": "GREYCOAT GROUP SEEKS TWO FINANCINGS",
"body": "U.K. Property company Greycoat Group Plc\nis seeking two financings, one for 120 mln stg and the other\nfor 16 mln stg, in connection with its Embankment Place\ndevelopment above and around Charing Cross station in London,\nbanking sources said.\n The first transaction, a 120 mln stg credit, will be\narranged by N.M. Rothschild and Sons Ltd and Bank of Tokyo\nInternational Ltd on behalf of a special purpose Greycoat\nsubsidiary yet to be incorporated.\n It matures in June 1993 but will be extendible by up to two\nyears to June 1995 at the option of the borrower.\n The first credit, a project financing, will carry a basic\nmargin of 5/8 point over London Interbank Offered Rates\n(LIBOR), with an additional 1/4 pct per annum payable on\noutstanding amounts to the extent that the property is not\nsubstantially pre-let.\n In addition, if the property is pre-sold while amounts are\nstill outstanding, the basic margin will be reduced to 1/2\npoint over LIBOR, the banking sources said.\n For a one year extension of the maturity an extra 1/8 point\nmargin will be paid, with a further 1/8 point if the maturity\nis lengthened for the optional second year.\n There will be a commitment fee of 1/4 pct per annum on\navailable amounts and of 1/8 pct on unavailable amounts, the\nsources said. Rothschild is sole agent for this transaction.\n The second transaction, a 16 mln stg credit for the purpose\nof working capital, is being arranged by Rothschild alone on\nbehalf of the Greycoat Group Plc itself. It will be secured on\na property called Brettenham House.\n The margin will be 1/2 point over LIBOR in years one to\nfour, 5/8 point over LIBOR in years five and six and 3/4 point\nover LIBOR thereafter. The credit will mature in June, 1995.\n The sources said that a commitment fee of 20 basis points\nwill be payable on the available tranche, with 10 basis points\non unavailable amounts.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:12:28.42",
"places": [
"uk"
],
"id": "15813"
},
{
"title": "SULPETRO AWAITS GOVERNMENT APPROVAL ON DEBT",
"body": "<Sulpetro Ltd> said it had not\nyet obtained Canadian government approval of a previously\nreported agreement to restructure its 505 mln dlr debt, and\nremaines dependent in the interim on support from its principal\nbanker.\n Sulpetro said it was operating as if the restructuring were\nimplemented, and was required to pay interest only on the term\nloan part of its debt.\n It earlier said its net loss for the first quarter ended\nJanuary 31 fell to 9.9 mln dlrs from a restated year-earlier\nloss of 17.3 mln dlrs.\n Sulpetro president Michael Williams declined to speculate,\nin reply to a query, on when government approval of the\nrestructuring deal was likely.\n The company said first quarter costs fell to 25.4 mln dlrs\nfrom year-ago 45.5 mln dlrs, due partly to lower sales costs\nand reduced depletion because of its fiscal 1986 writedown.\n First quarter revenues fell to 14.7 mln dlrs from\nyear-earlier 29.8 mln because of lower wellhead prices, reduced\ngas and natural gas liquids sales, disposal of its British\nproperties and surrender of part of the Irish-Lindbergh heavy\noil properties, Sulpetro said.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:12:41.93",
"places": [
"canada"
],
"id": "15814"
},
{
"title": "DELTA AIR <DAL> FILES FOR ONE-STOP TO SEOUL",
"body": "Delta Air Lines said it filed with the\nU.S. Department of Transportation its application for one-stop\nservice from Portland, Ore, to Seoul, Korea, via Tokyo.\n If all government approvals are given promptly, Delta said\nservice could begin by July One, 1987.\n Delta said it started service from Portland to Tokyo on\nMarch two and operates five weekly round trips. It will\nincrease service to six flights on June One, and plans daily\nservice by 1988, Delta said.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:14:02.02",
"places": [
"usa",
"south-korea"
],
"id": "15815"
},
{
"title": "CANADIAN BANK RATE RISES IN WEEK",
"body": "Canada's key bank rate rose to 7.20 pct\nfrom 7.15 pct the week before, Bank of Canada said.\n Bank rate is set 1/4 percentage point above the average\nyield on the weekly issue of 91-day treasury bills. This week's\nyield was 6.95 pct compared with the previous week's 6.90 pct.\n Tenders were accepted for 2.55 billion dlrs of 91-day bills\nat an average price of 98.296 dlrs against 98.310 dlrs last\nweek.\n The 1.40 billion dlrs of 182-day bills were priced at an\naverage 96.488 dlrs against 96.549 dlrs last week, to yield an\naverage 7.30 pct, versus 7.17 pct last week.\n The 500 mln dlrs of 364-day bills were priced at an average\n92.969 dlrs against 93.159 dlrs last week, to yield an average\n7.58 pct versus 7.38 pct last week.\n Tenders will be received next week for 2.50 billion dlrs of\n 91-day bills, 1.40 billion dlrs of 182-day bills and 500 mln\ndlrs of 364-day bills. \n Reuter\n\u0003",
"date": " 9-APR-1987 14:17:39.26",
"topics": [
"interest"
],
"places": [
"canada"
],
"id": "15816"
},
{
"title": "CONSENSUS SEEN ON TIN PACT EXTENSION",
"body": "The quarterly session of the\nInternational Tin Council (ITC) continued without formal\nagreement on an extension of the sixth International Tin\nAgreement (ITA), but delegates said it was apparent there was a\ngeneral consensus the Agreement should be prolonged.\n Some delegations are still awaiting formal instructions\nfrom capitals, but informally most have indicated they favour\nan extension, delegates said.\n This afternoon's session was used by delegates to seek\nfurther clarification on some of the issues involved, and to\ndiscuss internal matters.\n Some sources were optimistic a resolution on an extension\ncould be passed tomorrow but others suggested a special session\nwould be convened to adopt the resolution after the Association\nof Tin Producing Countries meeting April 14 to 16.\n The full Council session resumes tomorrow at 1330 GMT after\na European Community coordination meeting at 1100.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:17:47.39",
"topics": [
"tin"
],
"organisations": [
"itc",
"atpc"
],
"places": [
"uk"
],
"id": "15817"
},
{
"title": "FUNARO SHRUGS OFF CALLS FOR RESIGNATION",
"body": "Brazilian Finance Minister Dilson\nFunaro shrugged off demands by a group of Brazilian governors\nthat he resign.\n \"At this moment I am discussing something much more serious\nfor Brazil and it's absolutely indispensible in a negotiation\nlike this one that I dedicate myself entirely to the\ndiscussions,\" Funaro told reporters.\n Funaro, who spoke today to the International Monetary\nFund's interim committee, was referring to talks he began\nTuesday with creditor banks in New York in which unveiled\nBrazil's economic targets and financial needs.\n The governor of Sao Paulo state Orestes Quersia and other\ngovernors last night called on Brazilian President Jose Sarney\nto assume direct control of the debt negotiations.\n Asked if the governors' demands for his resignation would\naffect negotiations, Funaro said: \"We are building a new\nrefinancing position and that is what we are doing now. The\nrest is secondary.\"\n He added that Brazil's economic program clearly\ndemonstrates the intention to renegotiate the countries\ninternational financial committments, and added: \"The domestic\nproblems are our business.\"\n Funaro said discussions on Brazil's refinancing proposals\nwere well under way with private creditor banks and added World\nBank President Barber Conable had also accepted the proposals\nas \"a good plan\" at a meeting they had last night.\n But Conable, who was also present at today's IMF interim\ncommittee meeting told reporters that the World Bank wanted\nfurther clarifications on Brazil's economic programs.\n \"We wish further clarification about the program with\nrespect to adjustment lending,\" Conable said.\n He added that a World Bank mission would travel to Brazil\nearly next week to explore the state of Brazil's new economic\nmeasures.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:20:25.96",
"organisations": [
"worldbank",
"imf"
],
"places": [
"brazil",
"usa"
],
"id": "15818"
},
{
"title": "SLATER ELECTRIC INC <SLAT> 1ST QTR FEB 28 NET",
"body": "Shr four cts vs 10 cts\n Net 31,000 vs 82,000\n Sales 10.9 mln vs 9,760,000\n Reuter\n\u0003",
"date": " 9-APR-1987 14:21:11.70",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15819"
},
{
"title": "GTE <GTE> UNIT SIGNS DEAL WITH SKYSWITCH",
"body": "<Skyswitch Satellite Communications\nCo> said it GTE Corp's GTE Spacenet has signed an original\nequipment manufacturing agreement with Skyswitch that will\nenable the two companies to set the standard for satellite news\ngathering voice communications systems.\n The equipment will be provided under GTE's specifications\nand label, it said.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:22:27.45",
"places": [
"usa"
],
"id": "15820"
},
{
"title": "SOUTH JERSEY INDUSTRIES INC <SJI> 1ST QTR NET",
"body": "Oper shr 1.64 dlrs vs 1.50 dlrs\n Oper net 6,200,000 vs 5,600,000\n Revs not given\n 12 mths\n Oper shr 2.76 dlrs vs 2.58 dlrs\n Oper net 10.4 mln vs 9,600,000\n NOTE: Net income including discontinued operation and, in\nboth 1986 periods, 1,500,000 dlr gain from change in accounting\nfor which results restated, 6,200,000 dlrs vs 7,200,000 dlrs in\nquarter and 10.6 mln dlrs vs 11.6 mln dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:23:50.33",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15821"
},
{
"title": "CITY NATIONAL CORP <CTYN> 1ST QTR NET",
"body": "Shr 56 cts vs 35 cts\n Net 10,271,000 vs 6,425,000\n Loans 1.44 billion vs 1.20 billion\n Deposits 2.36 billion vs 1.96 billion\n Assets 2.96 billion vs 2.55 billion\n Reuter\n\u0003",
"date": " 9-APR-1987 14:24:00.18",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15822"
},
{
"title": "ALLIED BANKSHARES INC <ABGA> 1ST QTR NET",
"body": "Shr 50 cts vs 26 cts\n Net 1,316,000 vs 656,000\n NOTE: qtr 1987 includes tax gain 500,000 dlrs, or 19 cts\nper share.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:27:43.74",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15823"
},
{
"title": "TEXACO CANADA <TXC> LIKELY NOT IN A TEXACO PACT",
"body": "Texaco Canada Inc, 78 pct owned by\nTexaco Inc <TX>, likely would not form any part of a possible\nsettlement in a 10.3 billion U.S. dlr legal battle between\nTexaco Inc and Penzoil Co <PZL>, Texaco Canada chief executive\nPeter Bijur told reporters.\n \"I just just don't believe that it (Texaco Canada) would be\npart of any settlement,\" Bijur said during a interview.\n Bijur said he could not comment directly on the\nTexaco-Penzoil dispute, adding he had no first-hand information\nconcerning efforts by Texaco and Penzoil to resolve the matter.\n \"We don't have any problems that I am aware of that are a\nresult of that litigation in the United States, and we continue\nto do business on a normal, 'business as usual' basis,\" Texaco\nCanada's Bijur told reporters during an interview session.\n As previously reported, Texaco Inc is seeking a court order\nto block Pennzoil from taking action to secure a 10.3 billion\ndlr judgement against Texaco.\n In reply to a query, Bijur said Texaco Inc has imposed no\nspending retraints on Texaco Canada as it continues previously\nreported efforts to make an energy-related acquisition.\n After considering making an acquisition for several months,\nTexaco Canada set up a \"business development team\" of five people\nabout one month ago to increase its efforts, Bijur said. The\ncompany has also widened the scope of its search to include\ncandidates involved in refining and marketing as well as\nproduction segments of the industry.\n \"We're going to widen the scope of our view. We're going to\nlook at the downstream and we're going to look at the entire\npetroleum business,\" he said.\n Bijur declined to specify how much money Texaco Canada\nwould spend on an acquisition.\n Bijur said the company was not close to concluding any\nacquisitions and declined to specify when he expected a\ntransaction might be made. \"We're not in a hurry,\" he said.\n Texaco Canada said in the annual report it had a cash\nposition of 808 mln dlrs at the end of 1986, and Bijur said the\ncompany's cash fund has not changed materially during the first\nquarter.\n Commenting on earnings results, Bijur said he expected\nfirst quarter profit to be lower than last year's earnings of\n84 mln dlrs or 70 cts a share, due to lower profit contribution\nfrom production because of lower oil prices.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 14:29:59.02",
"places": [
"canada"
],
"id": "15824"
},
{
"title": "MINNESOTA LASER INTRODUCES NEW SURGICAL LASERS",
"body": "Minnesota Laser Corp said it introduced\na new line of Coagulase Series Nd:YAG surgical laser systems.\n It said the lasers use 400 micron fiberoptics designed for\nendoscopic, microscopic and freehand surgical applications in\ngynecology, urology, gastroenterology and pulmonology.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:33:40.58",
"places": [
"usa"
],
"id": "15825"
},
{
"title": "SEAGRAM <VO> REORGANIZES U.S. SALES, MARKETING",
"body": "The House of Seagram, Seagram Co Ltd's\nU.S. marketing arm for Joseph E. Seagram and Son's distilled\nspirits and wine coolers, said it is replacing its four current\nnational spirits companies with a single sales force, one\nmarketing unit and a centralized finance and administrative\nfunction.\n Effective May four, House of Seagram said its sales force\nwill operate nationally through seven, equal-sized regions,\nfive in open states and two in control states, Seagram said.\n The change reflects a more aggressive marketing and sales\nfocus on the local level, the company said.\n A vice president-general manager will head each region,\nreporting to Jerome Mann, executive vice president, Seagram\nsaid, adding that Sales, Seagram Distillers, 375 Spirits,\nPerennial Sales and Summit Sales will cease to exist as\ncompanies.\n \"We will no longer have individual spirits companies, the\nresulting internal competition for distributor and retailer\nattention or centalized decision making on virtually all\nissues,\" Edgar Bronfman, House of Seagram president, said.\n Seagram said the group that markets Seagram's line of wine\ncoolers, the be caled the Seagram Beverage Co, will not be\naffected by the reorganization.\n The company added that Seagram Beverage will remain inside\nthe House of Seagram, but separate from the spirits unit.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:34:36.86",
"places": [
"usa"
],
"id": "15826"
},
{
"title": "REUTERS LAUNCHES VIDEOTEXT SERVICE IN U.K.",
"body": "Reuters Holdings Plc <RTRS.L> said it has\nlaunched its colour videotext service, Reuter News-Watch, in\nBritain to service the customers of hotels, restaurants,\nairports and banks.\n News-Watch subscribers can insert their own advertisements\nand announcements for display.\n The service uses information from the Reuter database of\nnews, prices and displays. It carries the latest news and sport\nfrom around the world, financial rates and prices, weather\nforecasts and horoscopes. News-Watch, already available in most\nWest European countries, will go worldwide this year.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:36:05.43",
"places": [
"uk"
],
"id": "15827"
},
{
"title": "BERMUDA SEEKS 40 MLN DLR REVOLVING CREDIT",
"body": "The Government of Bermuda is seeking a 40\nmln dlr, seven year revolving credit, which will be the only\ncredit outstanding in its own name, N.M. Rothschild and Sons\nLtd said as arranger and agent.\n The credit will pay a margin of 20 basis points over U.S.\nDollar London Interbank Offered Rates (LIBOR) and will\nincorporate a tender panel for U.S. Dlr advances.\n There is a 10 basis point annual facility fee in years one\nto four, rising to 12-1/2 points thereafter. A 7-1/2 basis\npoint participation fee is payable on the transaction, which\nstarted syndication this week.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:37:12.52",
"places": [
"uk",
"bermuda"
],
"id": "15828"
},
{
"title": "ROYAL DUTCH <RD> UNIT TO CUT HEATING OIL PRICE",
"body": "Royal Dutch/Shell's Scallop Petroleum\nCo subsidiary said it will reduce the price it charges contract\nbarge customers in New York harbor for heating oil by 2.5 cts a\ngallon, effective tomorrow.\n The company said the price cut will bring the contract\nbarge price for heating oil to 51 cts a gallon.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:39:18.21",
"topics": [
"heat"
],
"places": [
"usa"
],
"id": "15829"
},
{
"title": "BANKERS TRUST <BT> FILES 400 MLN DLR OFFERING",
"body": "Bankers Trust New York Corp filed\nwith the Securities and Exchange Commission for a shelf\noffering of up to 400 mln dlrs of subordinated debentures on\nterms to be set at the time of sale.\n The bank holding company said proceeds will be used for\ngeneral corporate purposes including investments in or\nextensions of credit to its subsidiaries.\n Underwriters were not named in the draft prospectus.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:41:42.28",
"places": [
"usa"
],
"id": "15830"
},
{
"title": "MAGMA RAISES COPPER PRICE 0.25 CT TO 65.75 CTS",
"body": "Magma Copper Co, a subsidiary of\nNewmont Mining Corp, said it is raising its copper cathode\nprice by 0.25 cent to 65.75 cents a lb, effective immediately.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:43:15.75",
"topics": [
"copper"
],
"places": [
"usa"
],
"id": "15831"
},
{
"title": "FIRST BANK SYSTEM INC <FBS> 1ST QTR NET",
"body": "Shr 95 cts vs 80 cts\n Net 57.4 mln vs 46.6 mln\n Assets 28.39 billion vs 25.87 billion\n Loans 13.99 billion vs 14.35 billion\n Reuter\n\u0003",
"date": " 9-APR-1987 14:44:01.09",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15832"
},
{
"title": "CENTERRE BANCORP <CTBC> 1ST QTR NET",
"body": "Shr 94 cts vs 1.02 dlrs\n Net 7,255,000 vs 7,856,000\n Loans 2.88 billion vs 2.94 billion\n Deposits 4.05 billion vs 3.73 billion\n Assets 5.43 billion vs 5.14 billion\n\n Reuter\n\u0003",
"date": " 9-APR-1987 14:44:39.48",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15833"
},
{
"title": "SEA GALLEY STORES INC <SEAG> 1ST QTR NET",
"body": "Oper shr four cts vs one ct\n Oper net 108,000 vs 30,000\n Revs 12.8 mln vs 14.8 mln\n Note: Current qtr figures exclude operating loss\ncarryforward gain of 57,000 dlrs, or two cts per share vs gain\nof 21,000 dlrs, or one ct per share.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:45:42.45",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15834"
},
{
"title": "IRT PROPERTY LAUNCHES DEBENTURE IN EUROMARKET",
"body": "IRT Property Co, a real estate investment\ntrust based in Atlanta, Georgia, has launched a 30 mln dlr\nconvertible subordinated debenture in the Euromarket, a partner\nof Chandler Partnership Ltd said.\n The issue is unique in several respects and is only one of\na handful of such deals to be brought to this market, he said.\n Unlike most eurobonds, the issue will not be underwritten.\nInstead, IRT mandated Chandler Partnership to find potential\ninvestors with whom the issue can be preplaced and to then\nplace on a \"best efforts\" basis what ever amount may not be\nsubscribed.\n Chandler itself was set up in the Isle of Jersey in the\nmiddle of last year as a partnership, whose members have been\ninvolved in financial markets.\n The deal has two sponsors who assist in the placement--\nInterallianz Bank Zurich AG and Nivison Cantrade Ltd, a small\nU.K. Trading firm that formerly was broker R. Nivison and Co.\n The debentures are due June 1, 2002 and pay a semi-annual\ncoupon of two pct and are priced at par. They can be converted\ninto shares of the company's stock at 23-1/2 dlrs a share.\n IRT's shares closed last night on the New York Stock\nExchange at 19-7/8.\n The debentures can be redeemed at par at maturity and are\ncallable at the company's option after the first two years.\n On or after August 1989 the company can call half the\ndebentures if the stock trades for 30 days at 123 pct of the\nconversion price and half if it reaches 140 pct of the\nconversion price, Nivison said.\n In addition, holders will be able to surrender half the\nbonds during May 1991 at 123 pct for a semi-annual yield of\n7.043 pct and the other half in May 1993 at 140 pct, for a\nyield of 7.383 pct.\n The payment date is June 1, 1987. The debentures will be\nlisted in London and the fees for the deal total 2-1/4 pct.\n Nivison said that the deal contains a convenent which\nstates that if the company's debt to equity ratio exceeds two\nto one the debentures cannot be converted unless the company\nobtains a bank guarantee or a letter of credit.\n Nivison said IRT's debt to equity ratio currently is less\nthan one to one.\n The Chandler partner said that this type of deal gives the\nborrower funds that are less costly than if it had done an\nissue in the U.S. Domestic market.\n REUTER\n\u0003",
"date": " 9-APR-1987 14:47:02.40",
"places": [
"uk",
"usa"
],
"id": "15835"
},
{
"title": "EGYPT CANCELS WHEAT TENDER",
"body": "Egypt has cancelled its April 2 tender for\n200,000 tonnes of any origin wheat for April 15-30 shipment,\ntrade and Egyptian official sources said.\n Trade sources said the cancellation followed an offer by an\nEgyptian company, Islamic Corp, at 85.80 dlrs/tonne cost and\nfreight, undercutting other traders' offers of between 93.90\nand 94.49 dlrs/tonne.\n An Egyptian trade official in Paris confirmed cancellation\nof the tender following the Islamic Corp offer, which he said\nthe government had refused for legal reasons.\n The official denied trade reports that the government might\nhave substituted a private deal with Islamic Corp for the\noriginal tender.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:49:24.01",
"topics": [
"grain",
"wheat"
],
"places": [
"france",
"egypt"
],
"id": "15836"
},
{
"title": "WESTLAND TO CUT A THIRD OF HELICOPTER WORKFORCE",
"body": "U.K. Helicopter maker <Westland Plc> will\nreduce the 6,000 workforce of its helicopter division by around\na third over the next few weeks, a company spokesman said.\n He said the decision was in part the result of a 400 mln\nstg government order for military helicopters announced\nearlier.\n The spokesman said the order had reduced the number of\nredundancies necessary but was not large enough to avoid job\nlosses. The total group workforce is 11,000. The company was\nrescued last year by a consortium of United Technologies Corp's\n<UTX.N> Sikorsky unit and Fiat SpA <FIAT.MI>.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:51:18.69",
"places": [
"uk"
],
"id": "15837"
},
{
"title": "HOUSE PANEL WANTS PENTAGON MANAGE U.S. STOCKPILE",
"body": "The House Armed Services Committee\nhas voted for a transfer in the management of stockpiled\nmaterials for national defense to the U.S. Defense Secretary.\n The committee also voted for legally-binding quantity and\nquality requirements on the materials, mostly metals.\n The measures are a part of the Defense Authorization Bill\nwhich will be voted on in the House next month.\n The purpose of the measures, passed by the committee\nyesterday, is to improve stockpile management and discourage\nsell-offs of materials that could jeopardize strategic needs, a\nstaff member of the committee told Reuters.\n \"They (the stockpiles) stand to gain the most by being\nmanaged properly,\" said the staffer. \"Management of the stockpile\nover the last 10 years has been atrocious.\"\n Responsibility for stockpile management now belongs to a\nWhite House agency, the Federal Emergency Management Agency.\n The staffer said under the measures passed by the committee\nthe Secretary of Defense would have more influence over\ndecisions to keep or sell strategic stockpile materials.\n The administration has proposed a goal of 700 million dlrs\nworth of strategic materials to be held in the stockpile. The\nstockpile now contains around 10 billion dlrs of materials.\n He said several agencies currently helped FEMA to manage\nthe stockpile and decide how much to sell to help the deficit.\n These agencies included the Office of Management and Budget\nand the Departments of Interior and Commerce, he said.\n The committee believed the shared involvement in stockpile\nmanagement was counter-productive, he said.\n Reuter\n\u0003",
"date": " 9-APR-1987 14:55:44.60",
"topics": [
"strategic-metal"
],
"places": [
"usa"
],
"id": "15838"
},
{
"title": "SALOMON INC MANAGING DIRECTOR SAID RUMORS COMPANY SUFFERED BOND TRADING LOSSES ARE \"NOT TRUE\"\n",
"date": " 9-APR-1987 14:56:47.88",
"id": "15839"
},
{
"title": "CANADA TRADE RISE SEEN AS START OF RECOVERY",
"body": "Canada's trade picture has brightened\nconsiderably, underscoring economists' predictions the sector\nwould post a long awaited recovery this year.\n The federal government reported today that the monthly\nsurplus soared to 1.25 billion Canadian dlrs in February,\ndouble January's 623 mln dlrs surplus and sharply higher than\nFebruary 1986's 189 mln dlr tally.\n \"Hopefully it's the beginning of a trend,\" said Richardson\nGreenshields of Canada Ltd economist Susan Clark in Toronto.\n Economists generally don't expect such large gains over the\nnext months, but are looking for an upward trend throughout the\nyear.\n \"We thought the trade balance would improve ... over the\nyear, and it certainly looks as if this morning's figure is\nindicative of that,\" commented economist James Donegan at the\nToronto securities firm of Midland Doherty Ltd.\n Statistics Canada reported the surplus was driven by a 23\npct gain in automobile product exports to a record 3.2 billion\ndls in the month.\n \"Recovery in the automotive sector helped push the value of\nexports up by 5.9 pct in February,\" the agency said in its\nmonthly report.\n Total exports expanded to 10.44 billion dlrs from 9.85\nbillion dlrs in February, while imports slipped to 9.19 billion\ndlrs from 9.23 billion dlrs.\n Economists have predicted the 1987 trade surplus would end\nup three to five billion dlrs higher than last year's dismal\n10.1 billion dlr total. In 1985 the surplus was 17.48 billion\ndlrs.\n Money market analysts said the positive trade news touched\noff a modest rally in the Canadian dollar, which rose to 76.85\nU.S. cts on North American markets early this morning after\nclosing at 76.58 cts Wednesday.\n The currency was hovering around 76.78 cts in early\nafternoon trading.\n Economists have been banking on an improved trade\nperformance this year to stimulate an otherwise sluggish\nCanadian economy.\n Money market analysts said the positive trade news touched\noff a modest rally in the Canadian dollar, which rose to 76.85\nU.S. cts on North American markets early this morning after\nclosing at 76.58 cts Wednesday.\n The currency was hovering around 76.78 cts in early\nafternoon trading.\n Economists have been banking on an improved trade\nperformance this year to stimulate an otherwise sluggish\nCanadian economy.\n They say the country's consumers, who have been spending at\na torrid pace in recent years, will sharply curtail outlays\nthis year and this should help curtail the flow of imports into\nthe country.\n Meanwhile, demand for Canadian exports in the United\nStates, by far the country's largest market, is expected to be\nstrong as a result of a projected rise in American consumer\nspending and the relatively low value of the Canadian currency.\n \"We maintain what's going to drive Canada's export\nperformance is income growth in the U.S.,\" said Midland's\nDonegan.\n But at the Bank of Nova Scotia, deputy chief economist\nWarren Jestin was less optimistic about the U.S. outlook and\nsaid it could be a mistake to read too much into February's\ntrade upturn.\n Jestin said, \"Given the fact the U.S. economy is showing\nsigns of weakening--particularly car sales--it would indicate\nthat part of the strength (in Canada's trade figures) is\nprobably transitory.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 14:57:17.20",
"topics": [
"trade"
],
"places": [
"canada"
],
"id": "15840"
},
{
"title": "FIRST BANK <FBS> SEES LOSS ON BRAZILIAN LOANS",
"body": "First Bank Systems Inc, in reporting\nhigher first quarter net, said that if interest is not paid on\nthe 140 mln dlrs in Brazilian loans and nine mln dlrs in\nEcuadorian loans for the rest of 1987, its profits for the\nentire year will be cut by 6.9 mln dlrs.\n The banking firm said the non-performing status of these\nloans cut first quarter net by 1.7 mln dlrs.\n Earlier it reported first quarter profits of 57.4 mln dlrs\nor 95 cts a share, up from 46.6 mln dlrs or 80 cts a share in\nthe year-ago period.\n Nonaccrual loans, restructured loans and other real estate\nwere 637 mln dlrs, or 2.24 pct of total assets, compared to 514\nmln dlrs or 1.84 pct of assets at the end of 1986 and 636.1\nmln, or 2.46 pct of assets at March 31, 1986.\n The provision for loan losses in the quarter was 35 mln\ndlrs, compared to 152.1 mln in the first quarter 1986, when\nthere was a special addition to the reserve of 100 mln dlrs.\nNet charge offs were 34.7 mln, compared to 41.1 mln dlrs a year\nearlier.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 15:00:01.74",
"topics": [
"earn"
],
"places": [
"usa",
"brazil"
],
"id": "15841"
},
{
"title": "USDA ESTIMATES 1986/87 USSR GRAIN IMPORTS 28.0 MLN TONNES VS 26.0 IN MARCH, 29.9 YEAR AGO\n",
"date": " 9-APR-1987 15:00:42.32",
"topics": [
"grain"
],
"places": [
"ussr"
],
"id": "15842"
},
{
"title": "INTERNATIONAL AMERICAN <HOME> NEWS TO COME",
"body": "International American Homes Inc\nsaid it would not be able to release any statements concerning\nits stock halt on Nasdaq for about 45 minutes to an hour.\n American Homes, whose stock halted on a last sale of 7-3/4,\nsaid the only executive who could release the news would not be\navailable until then.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:00:52.88",
"places": [
"usa"
],
"id": "15843"
},
{
"title": "USDA ESTIMATES 1986 SOVIET GRAIN CROP AT 210 MLN TONNES VS 210 IN MARCH, 192 YEAR-AGO\n",
"date": " 9-APR-1987 15:01:10.46",
"topics": [
"grain"
],
"places": [
"ussr"
],
"id": "15844"
},
{
"title": "USDA - U.S. 1986/87 ENDING CORN STOCKS 5,240 MLN BU, WHEAT 1,848 MLN, SOYBEANS 610 MLN\n",
"date": " 9-APR-1987 15:01:13.12",
"topics": [
"grain",
"corn",
"wheat",
"oilseed",
"soybean"
],
"places": [
"usa"
],
"id": "15845"
},
{
"title": "USDA 1986/87 U.S. ORANGE CROP 190,050,000 BOXES, FLORIDA CROP 122,900,000 BOXES\n",
"date": " 9-APR-1987 15:02:21.83",
"topics": [
"orange"
],
"places": [
"usa"
],
"id": "15846"
},
{
"title": "USDA ESTIMATES 1986/87 ORANGE JUICE YIELD AT 1.50 GALS PER BOX FROM FLORIDA CROP\n",
"date": " 9-APR-1987 15:02:30.15",
"topics": [
"orange"
],
"places": [
"usa"
],
"id": "15847"
},
{
"title": "NATIONAL MEDICAL <NME> FILES FOR DEBT OFFERING",
"body": "National Medical Enterprises Inc\nsaid it filed a registration statement with the Securities and\nExchange Commission covering 300 mln dlrs of debt securities.\n The proposed offering includes 150 mln dlrs of 30-year\ndebentures and 150 mln dlrs of 10-year notes, the company said.\n Net proceeds from the offering will be used to reduce bank\nborrowings, National Medical said, adding, Merrill Lynch\nCapital Markets will manage the underwriting.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:03:02.53",
"places": [
"usa"
],
"id": "15848"
},
{
"title": "COMDATA <CDN> GETS MERGER FINANCING",
"body": "Comdata Network Inc said it has\nreceived a letter from Drexel Burnham Lambert Inc stating that,\nsubject to conditions, the company could raise up to 235 mln\ndlrs in debt securities to finance the previously announced\nmerger of a newly formed corporation controlled by <Welsh,\nCarson, Anderson and Stowe IV> and Comdata.\n Comdata said the letter was in accordance with the\npreviously announced terms with Welsh, Carson.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:03:34.14",
"places": [
"usa"
],
"id": "15849"
},
{
"title": "WESTERN BELL <WBEL> SETS FILM PARTNERSHIP",
"body": "Western Bell Communications Inc said\nit is preparing a 23-mln-dlr syndicated limited partnership to\nfinance three films and three television pilots through its\nWestern Bell Entertainment Inc unit.\n Western Bell Entertainment will produce all of the\nprojects, the company said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:04:26.43",
"places": [
"usa"
],
"id": "15850"
},
{
"title": "VORNADO INC <VNO> 4TH QTR JAN 31 NET",
"body": "Oper shr 1.64 dlrs vs 84 cts\n Oper net 4,583,000 vs 2,869,000\n Revs 20.1 mln vs 19.0 mln\n Avg shrs 2,791,639 vs 3,432,746\n Year\n Oper shr 4.46 dlrs vs 3.20 dlrs\n Oper net 14.1 mln vs 10.9 mln\n Revs 74.6 mln vs 68.0 mln\n Avg shrs 3,154,665 vs 3,425,187\n NOTE: Operating net excludes gains of nothing vs 2,444,000\ndlrs, or 72 cts a share, in quarter and 1,890,000 dlrs, or 60\ncts a share, vs 9,3267,000 dlrs, or 2.72 dlrs a share, in year\nfrom tax loss carryforwards\n Reuter\n\u0003",
"date": " 9-APR-1987 15:05:17.16",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15851"
},
{
"title": "FIRST UNION CORP FIRST QTR SHR 71 CTS VS 61 CTS\n",
"date": " 9-APR-1987 15:07:05.18",
"topics": [
"earn"
],
"id": "15852"
},
{
"title": "U.S. SUPPLY/DEMAND HIGHLIGHTS",
"body": "Following are highlights of the U.S.\nAgriculture Department supply/demand projections for the\n1986/87 seasons, in mln bushels, with comparisons, unless noted\n--\n Corn -- Stocks, Aug 31, 1987, at 5,240, vs 5,595 last\nmonth. Stocks, Aug 31, 1986, at 4,040, vs 4,040 last month.\n Exports projected at 1,375, vs 1,250 last month. Exports in\n1985/86 at 1,241, vs 1,241 last month.\n Domestic use at 5,680, vs 5,450 last month. Usage in the\n1985/86 season at 5,255, vs 5,255 last month.\n Wheat -- Stocks, May 31, 1987, projected at 1,848, vs 1,877\nlast month. Stocks on May 31, 1986, at 1,905, vs 1,905 last\nmonth.\n Exports in 1986/87 season at 1,025, vs 1,025 last month.\n1985/86 season at 915, vs 915 last month.\n Domestic use in 1986/87 at 1,134, vs 1,105 last month.\n1985/86 at 1,045, vs 1,045 last month.\n Cotton -- in mln 480 lb bales - Stocks, July 31, 1987, at\n5.40, vs 5.49 last month. Stocks July 31, 1986, at 9.35, vs\n9.35 last month.\n Exports in 1986/87 season at 6.66, vs 6.76 last month.\nExports in 1985/86 - 1.96, vs 1.96 last month.\n Soybeans -- in mln bushels - Stocks, Aug 31, 1987,\nprojected at 610, vs 635 last month. Stocks Aug 31, 1986, at\n536, vs 536 last month.\n Soybean crushings during 1986/87 - 1,130, vs 1,115 last\nmonth. Crushings in 1985/86 at 1,053, vs 1,053 last month.\n Exports in 1986/87 season at 700, vs 700 last month.\nExports in 1985/86 at 740, vs 740 last month.\n Soybean Oil -- mln lbs - Stocks on Sept 30, 1987, at 1,360,\nvs 1,200 last month. Stocks on Sept 30, 1986, at 947, vs 947\nlast month.\n Exports in 1986/87 at 1,350, vs 1,350 last month. Exports\nin 1985/86 at 1,257, vs 1,257 last month.\n Soybean Cake/Meal -- thousand short tons - Stocks, Sept 30,\n1987, at 270, vs 315 last month. Stocks, Sept 30, 1986, at 212,\nvs 212 last month.\n Exports in 1986/87 season at 6,500, vs 6,350 last month. \nExports in 1985/86 at 6,036, vs 6,008 last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:07:17.18",
"topics": [
"grain",
"wheat",
"cotton",
"soybean",
"soy-oil",
"veg-oil",
"oilseed",
"soy-meal",
"meal-feed"
],
"places": [
"usa"
],
"id": "15853"
},
{
"title": "U.S. CITRUS CROP ESTIMATE -- USDA",
"body": "The U.S. Agriculture Department\nestimated 1986/87 citrus production, as follows (in boxes) --\n Total U.S. orange crop (excluding Florida Temples) --\n190,050,000 boxes, vs 190,850,000 boxes last month and\n176,410,000 boxes in the 1985/86 crop.\n Florida oranges (excluding Temples) -- 122,900,000 boxes,\nvs 124,000,000 last month and 119,000,000 boxes in 1985/86.\n Florida Temples -- 3,400,000 boxes, vs 3,400,000 last month\nand 2,950,000 boxes in 1985/86.\n The department's estimates are based on April 1 crop\nconditions.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:08:51.10",
"topics": [
"orange"
],
"places": [
"usa"
],
"id": "15854"
},
{
"title": "USDA ORANGE JUICE YIELD ESTIMATE",
"body": "The U.S. Agriculture Department\nprojected an average yield of 1.50 gallons of frozen\nconcentrated orange juice per box (42.0 degree brix equivalent)\nfrom Florida's 1986/87 crop.\n That compares with 1.47 gallons per box previously and 1.38\ngallons per box from the 1985/86 crop.\n The crop reporting board said the estimates for the 1986/87\nseason are based on maturity and yields tests as of April 1.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:09:06.76",
"topics": [
"orange"
],
"places": [
"usa"
],
"id": "15855"
},
{
"title": "USSR ADDS U.S. CORN TO COMMITMENTS - USDA",
"body": "The Soviet Union has added 175,600\ntonnes of U.S. corn to its previous commitments for delivery in\nthe fourth year of the U.S.-USSR Grain Supply Agreement, which\nbegan October 1, 1986, the U.S. Agriculture Department said.\n According to the department's Export Sales Report, covering\ntransactions in the week ended April 2, corn transactions\nconsisted of 140,600 tonnes of new sales and changes in\ndestinations for 35,000 tonnes.\n Total corn commitments to the USSR for delivery in the\nfourth agreement year amount to 2,825,600 tonnes. The Soviets\nhave not purchased wheat or soybeans in the fourth year of the\nagreement.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:09:20.25",
"topics": [
"grain",
"corn"
],
"places": [
"usa",
"ussr"
],
"id": "15856"
},
{
"title": "SALOMON INC <SB> DENIES RUMORS OF BOND LOSSES",
"body": "Robert Salomon, managing director of\nSalomon Inc, said rumors the Wall Street firm suffered bond\ntrading losses in the first quarter are not true.\n Salomon said the rumors affected the company's stock and \nare \"unequivocally denied.\"\n The Salomon share price was off 5/8 at 37-1/2, but it had\nbeen off more than one dlr on heavy volume earlier in the day.\n Analysts said the rumors have been circulating in the\nmarket for several days.\n \n Salomon said the firm will report first quarter results on\nApril 22 or 23.\n Analysts said the stock would have reacted poorly today,\neven without the rumors, because of the decline in the stock\nand bond markets.\n Other brokerages were also down today. E.F. Hutton <EFH>\nfell one to 41-1/4. Bear Stearns and Co <BSC> slipped 3/8 to\n19-1/2. PaineWebber Group <PWJ> fell 1/2 to 36, and First\nBoston Corp <FBC> slid 3/8 to 49-3/4. Merrill Lynch and Co Inc\nwas off 7/8 at 42-3/8.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:09:28.70",
"places": [
"usa"
],
"id": "15857"
},
{
"title": "USDA SPRING POTATO ESTIMATES",
"body": "The U.S. Agriculture Department\nestimated 1987 spring potato production, based on April 1\nconditions, at 19,267,000 cwts (100 lbs), vs 19,822,000 cwts\nindicated last year.\n The department estimated spring potato area for harvest at\n79,100 acres, vs 76,700 acres estimated last month and 75,900\nacres harvested last year.\n Spring potato yield per harvested acre is forecast at 244\ncwt per acre, vs 261 cwt per acre a year ago, USDA said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:09:41.16",
"topics": [
"potato"
],
"places": [
"usa"
],
"id": "15858"
},
{
"title": "USDA REVISES 1986 SUMMER POTATOES",
"body": "The U.S. Agriculture Department made\nthe following revisions for 1986 crop summer potatoes --\n Production -- 21,003,000 cwt (100 lbs), vs 20,900,000 cwt\nestimated previously.\n Acreage for harvest -- 95,700 acres, vs 95,800 acres\nestimated previously.\n Yield per harvested acre -- 219 cwt per acre, vs 218 cwt\nper acre previously estimated, the department said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:09:51.13",
"topics": [
"potato"
],
"places": [
"usa"
],
"id": "15859"
},
{
"title": "USDA DETAILS FREE GRAIN STOCKS UNDER LOAN",
"body": "The U.S. Agriculture Department gave\nprojected carryover free stocks of feedgrains, corn and wheat\nunder loans, with comparisons, as follows, in mln bushels,\nexcept feedgrains, which is in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Under Regular Nine Month Loan --\n WHEAT 225 300 678 678\n FEEDGRAINS 52.1 68.1 75.7 75.7\n CORN 1,800 2,400 2,589 2,589\n Special Producer Storage Loan Program --\n WHEAT 165 150 163 163\n FEEDGRAINS 7.0 6.7 5.3 5.3\n CORN 200 200 147 147\n Reuter\n\u0003",
"date": " 9-APR-1987 15:10:21.59",
"topics": [
"grain",
"corn",
"wheat"
],
"places": [
"usa"
],
"id": "15860"
},
{
"title": "CLEVITE <CLEV> AMENDS RIGHTS PLAN",
"body": "Clevite Industries Inc, which\nearlier received a 96 mln dlr takeover offer from J.P.\nIndustries Inc <JPI>, said it amended its Shareholder Rights\nPlan so that certain provisions of the plan cannot occur until\nthe board determines that it is in the best interests of the\ncompany and stockholders.\n The plan, adopted in December 1986, permits Clevite to\nissue shares at half price to existing stockholders and allows\nstockholders to buy shares of an unfriendly bidder at half\nprice.\n Clevite said the amendments by its board effectively mean\nthat the so-called flip-in and flip-over provisions of its\nrights plan can only be triggered by affirmative board\napproval.\n The company said it acted inview of the proposed\nacquisition and because certain debt restrictions could block\nits ability to redeem the rights.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:10:38.44",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15861"
},
{
"title": "RECENT SECURITIES OFFERINGS FILED WITH SEC",
"body": "The following proposed public\nofferings of securities were filed recently with the Securities\nand Exchange Commission:\n Utah Power and Light Co <UTP> - Shelf offering of up to 95\nmln dlrs of first mortgage bonds on terms to be set at the time\nof sale. Underwriters were not named.\n Conseco Inc <CNC> - Two mln shares of common stock through\nan underwriting group led by Dean Witter Reynolds Inc.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:13:59.28",
"places": [
"usa"
],
"id": "15862"
},
{
"title": "USDA ESTIMATES SOVIET WHEAT, COARSE GRAINS",
"body": "The U.S. Agriculture Department\nforecast the Soviet 1986/87 wheat crop at 92.30 mln tonnes, vs\n92.30 mln tonnes last month. It put the 1985/86 crop at 78.10\nmln tonnes, vs 78.10 mln tonnes last month.\n Soviet 1986/87 coarse grain production is estimated at\n103.30 mln tonnes, vs 103.30 mln tonnes last month. Production\nin 1985/86 is projected at 99.99 mln tonnes, vs 100.00 mln\ntonnes last month.\n USSR wheat imports are forecast at 15.00 mln tonnes in\n1986/87, vs 15.00 mln tonnes last month. Imports in 1985/86 are\nput at 15.70 mln tonnes, vs 15.70 mln tonnes last month. USDA\nestimated Soviet 1986/87 coarse grain imports at 12.00 mln\ntonnes, vs 10.00 mln tonnes last month, and 1985/86 imports at\n13.70 mln tonnes, vs 13.70 mln tonnes last month.\n USDA said Soviet coarse grain imports include 1986/87 corn\nimports, which it forecast at 8.00 mln tonnes, vs 6.00 mln\ntonnes last month. Corn imports in 1985/86 are estimated at\n10.40 mln tonnes, vs 10.40 mln last month.\n Total Soviet grain imports in 1986/87, at 28.0 mln tonnes,\ninclude one mln tonnes of miscellaneous grains.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:14:28.58",
"topics": [
"grain",
"wheat",
"corn"
],
"places": [
"usa",
"ussr"
],
"id": "15863"
},
{
"title": "WHEAT BY CLASS BREAKDOWN",
"body": "The U.S. Agriculture Department gave\nthe 1986/87 breakdown of supply and distribution for wheats by\nclasses, in mln bushels, with comparisons, as follows.\n HARD WINTER --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 1,009 1,009 717 717\n Production 1,018 1,018 1,230 1,230\n Ttl Supply-X 2,027 2,027 1,947 1,947\n Domestic Use 599 579 543 543\n Exports 450 475 395 395\n Total Use 1,049 1,054 938 938\n End Stocks 978 973 1,009 1,009\n Note - Season begins June 1. X-Includes imports\n HARD SPRING --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 498 498 371 371\n Production 451 451 460 460\n Ttl Supply-X 956 956 838 838\n Domestic Use 218 192 174 174\n Exports 200 190 166 166\n Total Use 418 382 340 340\n End Stocks 538 574 498 498\n Note - Season begins June 1. X-Includes imports.\n SOFT RED --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 79 79 64 64\n Production 290 290 368 368\n Ttl Supply-X 369 369 432 432\n Domestic Use 181 193 204 204\n Exports 120 120 149 149\n Total Use 301 313 353 353\n End Stocks 68 56 79 79\n Note - Season begins June 1. X-Includes imports\n WHITE --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 198 198 173 173\n Production 232 232 254 254\n Ttl Supply-X 433 433 430 430\n Domestic Use 82 83 80 80\n Exports 170 160 152 152\n Total Use 252 243 232 232\n End Stocks 181 190 198 198\n Note - Season begins June 1. X-Includes imports.\n DURUM --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 121 121 100 100\n Production 95 95 113 113\n Ttl Supply-X 221 221 218 218\n Domestic Use 54 58 44 44\n Exports 85 80 53 53\n Total Use 139 138 97 97\n End Stocks 82 83 121 121\n Note - Season begins June 1. X-Includes Imports.\n\n Reuter\n\u0003",
"date": " 9-APR-1987 15:14:41.57",
"topics": [
"grain",
"wheat"
],
"places": [
"usa"
],
"id": "15864"
},
{
"title": "USDA FORECASTS BRAZIL/ARGENTINE SOYBEAN CROPS",
"body": "The U.S. Agriculture Department\nforecast Brazil's 1986/87 soybean crop at 17.00 mln tonnes, vs\n17.00 estimated last month. It put the 1985/86 crop at 13.90\nmln tonnes, vs 13.70 mln last month.\n The department forecast Argentina's 1986/87 soybean crop at\n7.70 mln tonnes, vs 7.70 mln last month. It projected the\n1985/86 crop at 7.30 mln tonnes, vs 7.30 mln last month.\n Brazil's 1986/87 soybean exports were forecast at 2.50 mln\ntonnes, vs 2.50 mln tonnes estimated last month. USDA projected\n1985/86 exports at 1.20 mln tonnes, vs 1.20 mln last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:15:26.08",
"topics": [
"oilseed",
"soybean"
],
"places": [
"usa",
"brazil",
"argentina"
],
"id": "15865"
},
{
"title": "USDA ESTIMATES ARGENTINE COARSE GRAIN, WHEAT",
"body": "The U.S. Agriculture Department\nforecast Argentina's 1986/87 coarse grain crop at 13.99 mln\ntonnes, vs 15.44 mln tonnes last month. It estimated the\n1985/86 crop at 17.06 mln tonnes, vs 17.14 mln last month.\n USDA forecast Argentina's 1986/87 wheat crop at 9.00 mln\ntonnes, vs 9.00 mln tonnes last month, while the 1985/86 crop\nwas projected at 8.50 mln tonnes, vs 8.50 mln last month.\n USDA forecast Argentine 1986/87 coarse grain exports at\n6.60 mln tonnes, vs 7.73 mln tonnes last month, and projected\n1985/86 exports at 9.43 mln tonnes, vs 9.58 mln last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:16:25.46",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"argentina"
],
"id": "15866"
},
{
"title": "STOP AND SHOP COS IN 2-FOR-1 SPLIT, HIKES DIVIDEND\n",
"date": " 9-APR-1987 15:16:51.47",
"topics": [
"earn"
],
"id": "15867"
},
{
"title": "USDA ESTIMATES AUSTRALIA WHEAT CROP",
"body": "The U.S. Agriculture Department\nforecast Australia's 1986/87 wheat crop at 16.70 mln tonnes, vs\n17.30 mln tonnes last month. It estimated 1985/86 output at\n16.13 mln tonnes, vs 16.13 mln last month.\n Australian wheat exports in 1986/87 are forecast at 14.50\nmln tonnes, vs 14.50 mln tonnes last month, while exports in\n1985/86 are estimated at 15.96 mln tonnes, vs 15.96 mln last\nmonth.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:17:01.93",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"australia"
],
"id": "15868"
},
{
"title": "USDA ESTIMATES CHINA WHEAT",
"body": "The U.S. Agriculture Department\nprojected China's 1986/87 wheat crop at 90.30 mln tonnes, vs\n88.50 mln tonnes last month. It estimated the 1985/86 crop at\n85.81 mln tonnes, vs 85.81 mln last month.\n USDA projected China's 1986/87 wheat imports at 7.00 mln\ntonnes, vs 7.00 mln tonnes last month, and estimated 1985/86\nimports at 6.60 mln tonnes, vs 6.60 mln last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:17:29.74",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"china"
],
"id": "15869"
},
{
"title": "USDA ESTIMATES CANADIAN CROPS",
"body": "The U.S. Agriculture Department\nestimated Canada's 1986/87 wheat crop at 31.85 mln tonnes, vs\n31.85 mln tonnes last month. It estimated 1985/86 output at\n24.25 mln tonnes, vs 24.25 mln last month.\n Canadian 1986/87 coarse grain production is projected at\n27.62 mln tonnes, vs 27.62 mln tonnes last month. Production in\n1985/86 is estimated at 24.95 mln tonnes, vs 24.95 mln last\nmonth.\n Canadian wheat exports in 1986/87 are forecast at 19.00 mln\ntonnes, vs 19.00 mln tonnes last month. Exports in 1985/86 are\nestimated at 17.72 mln tonnes, vs 17.71 mln last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:18:00.94",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"canada"
],
"id": "15870"
},
{
"title": "NET CHANGE IN EXPORT COMMITMENTS -- USDA",
"body": "The U.S. Agriculture Department gave\nthe net change in export commitments, including sales,\ncancellations, foreign purchases and cumulative exports, in the\ncurrent seasons through the week ended April 2, with\ncomparisons, as follows, in tonnes, except as noted --\n 4/2/87 Prev Week\n All Wheat 119,800 368,300\n Corn 1,001,900 927,000\n Soybeans 240,500 300,900\n Soy Cake/Meal 117,700 170,200\n Soybean Oil 2,400-x 8,100\n Cotton-Y 60,200 31,900\n x-minus total. Y-running bales.\n The indicated totals include reported commitments to both\nnamed and unnamed destinations, sales on exporters' own account\nand optional origin sales plus actual exports already made\nduring the respective marketing seasons.\n The USDA cautions that reported outstanding sales are\nsubject to modification, deferral or cancellation and it is\nunlikely that all reported quantities will be exported.\n USDA gave detailed breakdowns for the 1986/87 and 1987/88\nseasons as follows, in thousand tonnes unless stated --\n (A) - Firm sales to a declared destination.\n (B) - Ultimate destination not yet declared.\n (C) - Sales made on exporters' own account.\n (D) - Exporter holds option to fill commitment with supplies \nfrom origins other than U.S.\n (E) - Accumulated exports since season began based on data \nreported by exporters.\n (F) - Indicated total for season.\n (G) - USDA-projected exports for season.\n Note -- Totals may not add due to rounding.\n ALL WHEAT\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/3/87 Prev Wk\n Named-A 3,157.6 3,684.1 1,591.4 1,635.6\n Unnamed-B 143.8 144.3 87.1 57.1\n E.O.A.-C 9.5 9.5 nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 3,310.9 3,837.9 1,679.0 1,692.7\n Ay Expd-E 21,044.6 20,433.4\n Ind Ttl-F 24,355.5 24,271.3\n USDAPRJ-G 27,900.0 27,900.0\n SOYBEANS\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 1,774.7 1,780.3 215.9 215.9\n Unnamed-B 500.3 524.8 nil 30.0\n E.O.A.-C 18.4 18.4 nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 2,293.4 2,323.5 215.9 245.9\n Ay Expd-E 14,334.2 14,183.2\n Ind Ttl-F 16,627.6 16,506.7\n USDAPRJ-G 19,050.0 19,050.0\n CORN\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev WK\n Named-A 8,559.8 8,684.8 772.1 268.8\n Unnamed-B 945.7 920.1 nil nil\n E.O.A-C 90.8 66.9 nil nil\n O.O.P-D 138.0 175.0 nil nil\n Gr Total 9,734.3 9,846.9 772.1 268.8\n Ay Expd-E 20,296.0 19,293.8\n Ind Ttl-F 30,030.3 29,140.7\n USDAPRJ-G 31,750.0 31,750.0\n SORGHUM\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev WK\n Named-A 875.6 805.1 nil nil\n Unnamed-B 151.2 151.2 10.2-x nil\n E.O.A-C nil nil nil nil\n O.O.P-D 114.5 138.3 nil nil\n Gr Total 1,141.3 1,094.6 10.2-x nil\n Ay Expd-E 3,222.5 3,149.7\n Ind Ttl-F 4,363.8 4,244.3\n USDAPRJ-G 5,720.0 5,720.0\n x-minus total \n WHEAT PRODUCTS\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 321.0 401.9 nil nil\n Unnamed-B nil nil nil nil\n E.O.A.-C nil nil nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 321.0 401.9 nil nil\n Ay Expd-E 926.9 840.9\n Ind Ttl-F 1,348.2 1,242.8\n Note - Includes bulgur, semolina, farina, rolled, cracked and\ncrushed wheat.\n SOYBEAN OIL\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 8.8 10.4 nil nil\n Unnamed-B 7.0 10.5 nil nil\n E.O.A-C nil nil nil nil\n O.O.P-D nil nil nil nil\n Gr Total 15.8 20.9 nil nil\n Ay Expd-E 138.4 135.8\n Ind Ttl-F 154.2 156.7\n USDAPRJ-G 610.0 610.0\n SOYBEAN CAKE AND MEAL\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 788.0 869.7 50.7 48.4\n Unnamed-B 76.0 94.0 nil nil\n E.O.A-C 2.7 6.1 nil nil\n O.O.P-D nil nil nil nil\n Gr Total 866.7 969.8 50.7 48.4\n Ay Expd-E 4,098.0 3,880.6\n Ind Ttl-F 4,964.7 4,850.4\n USDAPRJ-G 5,760.0 5,760.0\n COTTONSEED OIL\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 7.4 7.2 nil nil\n Unnamed-B 0.3 0.3 nil nil\n E.O.A.-C nil nil nil nil\n O.O.P.-D 7.8 7.8 nil nil\n Gr Total 15.4 15.2 nil nil\n ALL UPLAND DOMESTIC RAW COTTON-Y\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 2,007.9 2,076.1 468.2 457.2\n Unnamed-B 20.3 20.2 nil nil\n E.O.A-C nil nil nil nil\n O.O.P-C nil nil nil nil\n Gr Total 2,028.2 2,096.3 468.2 457.2\n Ay Expd-E 4,333.1 4,204.7\n Ind Ttl-F 6,361.3 6,301.0\n USDAPRJ-G 6,335.0 6,335.0\n Y-In thousand running bales.\n BARLEY\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 559.5 584.5 nil nil\n Unnamed-B 12.7 12.7 nil nil\n E.O.A.-C nil nil nil nil\n O.O.P.-D 25.0 25.0 nil nil\n Gr Total 597.1 622.1 nil nil\n Ay Expt-E 2,464.6 2,440.7\n Ind Ttl-F 3,061.7 3,062.8\n USDAPRJ-G 3,270.0 3,270.0\n OATS\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A nil nil nil nil\n Unnamed-B nil nil nil nil\n E.O.A.-C nil nil nil nil\n O.O.P.-D nil nil nil nil\n Gr Total nil nil nil nil\n Ay Expd-E 2.4 2.4\n Ind Ttl-F 2.4 2.4\n USDAPRJ-G 30.0 30.0\n RICE\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 347.6 369.1 nil nil\n Unnamed-B 1.0 1.0 nil nil\n E.O.A-C nil nil nil nil\n O.O.P-D nil nil nil nil\n Gr Total 348.6 370.1 nil nil\n Ay Expd-E 1,718.8 1,688.2\n Ind Ttl-F 2,067.4 2,058.3\n USDAPRJ-G 2,580.0 2,580.0\n HARD RED WINTER WHEAT\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 1,738.0 2,019.7 893.0 943.0\n Unnamed-B 80.5 70.5 107.6 77.2\n E.O.A.-C nil nil nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 1,818.5 2,090.2 1,000.6 1,020.2\n Ay Exp-E 8,332.1 7,974.5\n Ind Tl-F 10,150.6 10,064.8\n WHITE WHEAT\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 548.5 635.6 58.0 58.0\n Unnamed-B 19.0-x 19.0-x 6.0-x 6.0-x\n E.O.A.-C nil nil nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 529.5 616.6 52.0 52.0\n Ay Exp-E 3,831.5 3,757.7\n Ind Tl-F 4,361.0 4,374.3\n x - denotes minus figure\n HARD RED SPRING WHEAT\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 576.6 620.6 164.7 164.7\n Unnamed-B 29.6 16.0 nil nil\n E.O.A.-C 0.9 0.9 nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 607.1 637.5 164.7 164.7\n Ay Exp-E 4,312.4 4,247.6\n Ind Tl-F 4,919.5 4,885.1\n DURUM WHEAT\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 166.6 280.3 93.4 93.4\n Unnamed-B 52.8 76.9 nil nil\n E.O.A.-C 2.8 2.8 nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 222.2 360.0 93.4 93.4\n Ay Exp-E 1,842.6 1,727.5\n Ind Tl-F 2,064.8 2,087.5\n SOFT RED WINTER WHEAT\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n Named-A 127.8 127.8 382.3 376.5\n Unnamed-B nil nil 14.0-x 14.0-x\n E.O.A.-C 5.8 5.8 nil nil\n O.O.P.-D nil nil nil nil\n Gr Total 133.6 133.6 368.3 362.5\n Ay Exp-E 2,726.0 2,726.0\n Ind Tl-F 2,859.6 2,859.6\n x-minus figure\n Country and destinations of the identified sales of\ncommodities reported by exporters in week ended April 2 for\nthe respective marketing seasons were detailed by the USDA as\nfollows, with comparisons for the previous week, in thousands\nof tonnes, except where noted-- \n ALL WHEAT \n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n E.C. nil nil 50.0 50.0\n Other West\n Europe 218.8 236.8 nil nil\n East Europe 261.0 346.0 25.0 25.0\n ALL WHEAT Continued\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n USSR nil nil nil nil\n Japan 490.4 662.2 nil nil\n China 90.0 90.0 910.0 910.0\n Taiwan 115.0 141.0 144.0 144.0\n Other Asia and\n Oceania 654.9 730.9 28.6 78.6\n Africa 959.5 1,115.0 167.1 167.1\n Western\n Hemisphere 367.9 362.1 266.7 260.9\n SOYBEANS 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n E.C. 302.2 317.7 91.4 91.4\n Other West\n Europe 25.0 25.0 nil nil\n East Europe 101.0 101.0 nil nil\n Japan 355.4 330.5 nil nil\n China nil nil nil nil\n Taiwan 472.0 499.0 87.0 87.0\n Other Asia and\n Oceania 164.6 187.7 nil nil\n Africa nil nil nil nil\n Western\n Hemisphere 354.4 391.5 37.5 37.5\n SOYBEAN OIL\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n E.C. 1.5 1.5 nil nil\n India nil nil nil nil\n Other Asia and\n Oceania nil nil nil nil\n Africa nil nil nil nil\n Western\n Hemisphere 7.3 8.9 nil nil\n SOYBEAN CAKE/MEAL\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n E.C. 301.7 350.7 47.2 45.0\n Other West\n Europe nil nil nil nil\n East Europe nil 36.0 nil nil\n Japan nil 3.5 nil nil\n Other Asia and\n Oceania 25.0 40.0 nil nil\n Africa 30.2 38.0 nil nil\n Western\n Hemisphere 431.0 401.5 3.4 3.4\n CORN 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n E.C. 82.5 22.5 0.2 0.2\n Other West\n Europe nil 0.8 nil nil\n E. Europe 94.0 50.0 50.0 50.0\n USSR 2,432.7 2,543.8 nil nil\n Japan 2,767.4 2,787.8 52.4 21.0\n China 495.0 555.0 nil nil\n Taiwan 791.0 836.0 390.0 170.0\n Other Asia and\n Oceania 721.7 615.2 250.0 nil\n Africa 125.0 195.5 nil nil\n WestHem 1,050.5 1,114.0 29.4 27.6\n UPLAND COTTON (In thousand bales)\n 1986/87 1987/88\n 4/2/87 Prev Wk 4/2/87 Prev Wk\n E.C. 260.9 266.1 97.9 95.0\n Other West\n Europe 62.2 66.2 8.7 8.7\n E. Europe 3.1 3.1 nil nil\n Japan 445.8 484.1 72.3 70.1\n Taiwan 377.9 390.4 41.6 39.5\n Other Asia and\n Oceania 741.7 783.4 244.5 241.1\n Africa 16.7 13.4 nil nil\n Western\n Hemisphere 99.6 69.5 3.2 2.7\n Reuter\n\u0003",
"date": " 9-APR-1987 15:18:19.07",
"topics": [
"grain",
"corn",
"oilseed",
"soybean",
"soy-meal",
"meal-feed",
"veg-oil",
"soy-oil",
"cotton",
"sorghum",
"cotton-oil",
"barley",
"oat",
"rice"
],
"places": [
"usa"
],
"id": "15871"
},
{
"title": "HOUSE PANEL WANTS PENTAGON MANAGE U.S. STOCKPILE",
"body": "The House Armed Services Committee\nhas voted for a transfer in the management of stockpiled\nmaterials for national defense to the U.S. Defense Secretary.\n The committee also voted for legally-binding quantity and\nquality requirements on the materials, mostly metals.\n The measures are a part of the Defense Authorization Bill\nwhich will be voted on in the House next month.\n The purpose of the measures, passed by the committee\nyesterday, is to improve stockpile management and discourage\nsell-offs of materials that could jeopardize strategic needs, a\nstaff member of the committee told Reuters.\n \"They (the stockpiles) stand to gain the most by being\nmanaged properly,\" said the staffer. \"Management of the stockpile\nover the last 10 years has been atrocious.\"\n Responsibility for stockpile management now belongs to a\nWhite House agency, the Federal Emergency Management Agency.\n The staffer said that under the measures passed by the\ncommittee the Secretary of Defense would have more influence\nover decisions to keep or sell strategic stockpile materials.\n The administration has proposed a goal of 700 million dlrs\nworth of strategic materials to be held in the stockpile. The\nstockpile now contains around 10 billion dlrs of materials.\n He said several agencies currently helped FEMA to manage\nthe stockpile and decide how much to sell to help the deficit.\n These agencies included the Office of Management and Budget\nand the Departments of Interior and Commerce, he said.\n The committee believed the shared involvement in stockpile\nmanagement was counter-productive, he said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:18:39.45",
"topics": [
"strategic-metal"
],
"places": [
"usa"
],
"id": "15872"
},
{
"title": "MIYAZAWA WARNS ABOUT CURRENCY SHIFTS",
"body": "Japanese Finance Minister Kiichi\nMiyazawa said that further substantial exchange rate shifts\ncould damage the prospects for growth and adjustment and called\nfor cooperation in exchange markets.\n In a statement to the International Monetary Funds Interim\nCommittee, Miyazawa said it was imperative that current account\nsurplus countries follow policies designed to strengthen\ndomestic demand and reduce surpluses while maintaining price\nstability. He said Japan intended to carry out policies\nannounced at the Paris meeting of finance ministers to\nstimulate its economy.\n Miyazawa said that, given the massive external imbalances\nand serious unemployment in some countries, \"there are very real\nfears of a protectionist uprising.\"\n In addition, \"we are most concerned about this very serious\nproblem of exchange rate instability,\" Miyazawa said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:19:13.40",
"organisations": [
"imf"
],
"places": [
"usa",
"japan"
],
"id": "15873"
},
{
"title": "USDA ESTIMATES EUROPEAN COMMUNITY CROPS",
"body": "The U.S. Agriculture Department\nforecast the European Community's 1986/87 wheat crop at 71.60\nmln tonnes, vs 71.50 mln tonnes last month. It estimated\n1985/86 output at 71.70 mln tonnes, vs 71.71 mln last month.\n E.C. 1986/87 coarse grain production is projected at 81.22\nmln tonnes, vs 81.19 mln tonnes last month. The 1985/86 crop is\nestimated at 88.21 mln tonnes, vs 88.28 mln last month.\n E.C. wheat exports in 1986/87 are forecast at 28.22 mln\ntonnes, vs 28.31 mln tonnes last month. Exports in 1985/86 are\nestimated at 27.77 mln tonnes, vs 27.62 last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:19:22.53",
"topics": [
"grain",
"wheat"
],
"organisations": [
"ec"
],
"places": [
"usa"
],
"id": "15874"
},
{
"title": "U.S. SUPPLY/DEMAND DETAILED BY USDA",
"body": "The U.S. Agriculture Department made\nthe following supply/demand projections for the 1986/87\nseasons, in mln bushels, with comparisons, unless noted --\n CORN -- 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Acreage (mln acres) --\n Planted 76.7 76.7 83.4 83.4\n Harvested 69.2 69.2 75.2 75.2\n Yield (bu) 119.3 119.3 118.0 118.0\n Supply (mln bu) -- \n Start Stock 4,040 4,040 1,648 1,648\n Production 8,253 8,253 8,877 8,877\n Total-X 12,295 12,295 10,536 10,536\n X-Includes imports.\n CORN (cont.)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage: Feed 4,500 4,300 4,095 4,126\n Other 1,180 1,150 1,160 1,129\n Ttl Domest 5,680 5,450 5,255 5,255\n Exports 1,375 1,250 1,241 1,241\n Total Use 7,055 6,700 6,496 6,496\n End Stocks 5,240 5,595 4,040 4,040\n Farmer Reser 1,400 1,300 564 564\n CCC Stocks 1,700 1,500 546 546\n Free Stocks 2,140 2,795 2,930 2,930\n AvgPrice 1.35-1.65 1.35-1.65 2.23 2.23\n Note - Price in dlrs per bu. Corn season begins Sept 1.\n ALL WHEAT -\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Acreage (mln acres) --\n Planted 72.0 72.0 75.6 75.6\n Harvested 60.7 60.7 64.7 64.7\n Yield 34.4 34.4 37.5 37.5\n Supply (mln bu) --\n Start Stcks 1,905 1,905 1,425 1,425\n Production 2,087 2,087 2,425 2,425\n Total\n Supply-X 4,007 4,007 3,865 3,865\n X - Includes imports.\n ALL WHEAT 1986/87 1985/86\n (cont.) 04/09/87 03/09/87 04/09/87 03/09/87\n Usage: Food 700 690 678 678\n Seed 84 90 93 93\n Feed 350 325 274 274\n Ttl Domest 1,134 1,105 1,045 1,045\n Exports 1,025 1,025 915 915\n Total Use 2,159 2,130 1,960 1,960\n End Stocks 1,848 1,877 1,905 1,905\n Farmer Reser 475 450 433 433\n CCC Stocks 950 950 602 602\n Free Stocks 423 477 870 870\n Avg Price 2.30-40 2.30-40 3.08 3.08\n Note - Price in dlrs per bushel. Wheat season begins June 1.\n SOYBEANS -\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Acreage (mln acres) --\n Planted 61.5 61.5 63.1 61.1\n Harvested 59.4 59.4 61.6 61.6\n Yield (bu) 33.8 33.8 34.1 34.1\n Supply (mln bu) --\n Start Stocks 536 536 316 316\n Production 2,007 2,007 2,099 2,099\n Total 2,543 2,543 2,415 2,415\n SOYBEANS (cont.)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage --\n Crushings 1,130 1,115 1,053 1,053\n Exports 700 700 740 740\n Seed, Feed and\n Residual 103 93 86 86\n Total Use 1,933 1,908 1,879 1,879\n End Stocks 610 635 536 536\n Avg Price 4.60-4.80 4.60-4.80 5.05 5.05\n Note - Average price in dlrs per bushel. Soybean season begins\nJune 1.\n FEEDGRAINS - X\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Acreage (mln acres) --\n Planted 119.8 119.8 128.1 128.1\n Harvested 102.0 102.0 111.8 111.8\n Yld (tonnes) 2.48 2.48 2.45 2.45\n Supply (mln tonnes) --\n Start Stocks 126.4 126.4 57.5 57.5\n Production 252.4 252.4 274.4 274.4\n Imports 0.6 0.6 0.9 0.9\n Total 379.4 379.4 332.7 332.7\n X - Includes corn, sorghum, barley, oats.\n FEEDGRAINS - X (cont.)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage: Feed 140.6 136.2 134.8 135.5\n Other 35.8 35.0 35.0 34.3\n Ttl Domest 176.4 171.2 169.8 169.8\n Exports 43.9 40.8 36.6 36.6\n Total Use 220.3 211.9 206.4 206.4\n End Stocks 159.1 167.5 126.4 126.4\n Farmer Reser 39.0 36.5 16.6 16.6\n CCC Stocks 55.2 49.5 20.4 20.4\n Free Stocks 64.8 81.5 89.3 89.3\n X - Includes corn, sorghum, oats, barley. Seasons for oats,\nbarley began June 1, corn and sorghum Sept 1.\n SOYBEAN OIL -\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Supply (mln lbs) --\n Start Stcks 947 947 632 632\n Production 12,263 12,103 11,617 11,617\n Imports Nil Nil 8 8\n Total 13,210 13,050 12,257 12,257\n Note - 1985/86 production estimates based on October year\ncrush of 1,060 mln bushels.\n SOYBEAN OIL (cont.) -\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage (mln lbs) --\n Domestic 10,500 10,500 10,053 10,053\n Exports 1,350 1,350 1,257 1,257\n Total 11,850 11,850 11,310 11,310\n End Stcks 1,360 1,200 947 947\n AvgPrice 14.5-16.0 15.0-17.0 18.00 18.00\n Note - Average price in cents per lb. Season for soybean oil\nbegins Oct 1.\n SOYBEAN CAKE/MEAL, in thousand short tons --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 212 212 387 387\n Production 26,558 26,203 24,951 24,951\n Total 26,770 26,415 25,338 25,338\n Note - 1985/86 production estimates based on October year\ncrush of 1,060 mln bushels.\n SOY CAKE/MEAL (cont.) -\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage (thous short tons) --\n Domestic 20,000 19,750 19,090 19,118\n Exports 6,500 6,350 6,036 6,008\n Total 26,500 26,100 25,126 25,126\n End Stcks 270 315 212 212\n AvgPrice 145-150 145-150 154.90 154.90\n Note - Price in dlrs per short ton. Season for soybean cake\nand meal begins Oct 1.\n COTTON --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Area (mln acres) --\n Planted 10.06 10.06 10.68 10.68\n Harvested 8.49 8.49 10.23 10.23\n Yield (lbs) 549 553 630 630\n Supply (mln 480-lb bales) --\n Start Stks-X 9.35 9.35 4.10 4.10\n Production 9.70 9.79 13.43 13.43\n Ttl Supply-Y 19.06 19.14 17.57 17.57\n X - Based on Census Bureau data. Y - Includes imports.\n COTTON (cont.) -\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage --\n Domestic 7.10 7.01 6.40 6.40\n Exports 6.66 6.76 1.96 1.96\n Total 13.76 13.77 8.36 8.36\n End Stocks 5.40 5.49 9.35 9.35\n Avge Price 51.7-X 51.7-X 56.50 56.50\n X - 1986/87 price is weighted average for first five months of\nmarketing year, not a projection for 1986/87. Average price in\ncents per lb. Cotton season begins August 1.\n RICE\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Acreage (mln acres) --\n Planted 2.40 2.40 2.51 2.51\n Harvested 2.38 2.38 2.49 2.49\n Yield (lbs) 5,648 5,648 5,414 5,414\n Supply (mln cwts) --\n Start Stcks 77.3 77.3 64.7 64.7\n Production 134.4 134.4 134.9 134.9\n Imports 2.2 2.2 2.2 2.2\n Total 213.9 213.9 201.8 201.8\n RICE (cont.)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage (mln cwts) --\n Domestic 67.0 67.0 65.8 65.8\n Exports 80.0 80.0 58.7 58.7\n Total-Y 147.0 147.0 124.5 124.5\n End Stocks 66.9 66.9 77.3 77.3\n CCC Stocks 42.9 42.9 41.5 41.5\n Free Stocks 24.0 24.0 35.8 35.8\n AvgPrice 3.45-4.25 3.45-4.25 6.53 6.53\n Note - Average price in dlrs per CWT. Y-Rough equivalent.\nN.A.-Not Available, USDA revising price definition due to\nmarketing loan. Rice season begins August 1.\n SORGHUM\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Yield (bu) 67.7 67.7 66.8 66.8\n Supply (mln bu) --\n Start Stcks 551 551 300 300\n Production 942 942 1,120 1,120\n Total 1,493 1,493 1,420 1,420\n Usage (mln bu) --\n Feed 550 575 662 662\n Other 30 30 29 29\n Ttl Domest 580 605 691 691\n SORGHUM (cont.) -\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Exports 225 225 178 178\n Total Use 805 830 869 869\n End Stocks 688 663 551 551\n Avge Price 1.30-50 1.30-50 1.93 1.93\n Note - Price in dlrs per bushel. Sorghum season begins Sept 1.\n BARLEY\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Yield (bu) 50.8 50.8 51.0 51.0\n Start Stocks 325 325 247 247\n Production 610 610 591 591\n Imports 5 5 9 9\n Total 941 941 847 847\n BARLEY (cont.)\n 1986/87 1985/86\n 04/09/87 03/15/87 04/09/87 03/15/87\n Usage (mln bu) --\n Feed 300 300 333 333\n Other 175 175 167 167\n Ttl Domest 475 475 500 500\n Exports 150 150 22 22\n Total Use 625 625 522 522\n End Stocks 316 316 325 325\n AvgPrice 1.45-65 1.45-65 1.98 1.98\n Note - Average price in dlrs per bushel. Barley season begins\nJune 1.\n OATS - in mln bushels\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Yield (bu) 56.0 56.0 63.7 63.7\n Start Stcks 184 184 180 180\n Production 385 385 521 521\n Imports 30 30 28 28\n Total 598 598 729 729\n OATS, in mln bushels (cont.)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Usage --\n Feed 400 400 460 460\n Other 85 85 83 83\n Ttl Domes 485 485 543 543\n Exports 2 2 2 2\n Total 487 487 545 545\n End Stcks 111 111 184 184\n AvgPrice 1.00-20 1.00-20 1.23 1.23\n Note - Average price in dlrs per bushel. Oats season begins\nJune 1.\n LONG GRAIN RICE, in mln CWTs (100 lbs) --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Harvested --\n Acres (mln) 1.83 1.83 1.94 1.94\n Yield (lbs) 5,358 5,358 5,168 5,168\n Start Stks 49.3 49.3 37.7 37.7\n Production 97.8 97.8 100.4 100.4\n Ttl Supply 148.6 148.6 140.1 140.1\n Note -- Starting Stocks does not include broken kernels --\nSupply minus use does not equal ending stocks in breakdowns.\nTotal Supply includes imports but not broken kernels.\n LONG GRAIN RICE, in mln CWTs (100 lbs), cont. --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Domestic Use 43.0 43.0 48.8 48.8\n Exports 65.0 60.0 42.0 42.0\n Total Use 108.0 103.0 90.8 90.8\n End Stocks-X 40.6 45.6 49.3 49.3\n AvgPric 3.45-4.25 3.45-4.24 6.86 6.86\n Note - Average price in dlrs per cwt. X-Broken kernels not\nincluded -- supply minus use does not equal ending stocks in\nbreakdowns. Rice season begins August 1.\n MEDIUM, SHORT GRAIN RICE - in mln CWTs (100 lbs) --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Harvested --\n Acres (mln) 0.55 0.55 0.55 0.55\n Yield (lbs) 6,651 6,651 6,258 6,258\n Start Stks 26.7 26.7 25.7 25.7\n Production 36.6 36.6 34.5 34.5\n Ttl Supply 65.3 65.3 61.7 61.7\n Note -- Starting Stocks does not include broken kernels --\nSupply minus use does not equal ending stocks in breakdowns.\nTotal Supply includes imports but not broken kernels.\n MEDIUM, SHORT GRAIN RICE, in mln CWTs (100 lbs), cont. --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Domestic Use 24.0 24.0 17.0 17.0\n Exports 15.0 20.0 16.7 16.7\n Total Use 39.0 44.0 33.7 33.7\n End Stocks-X 24.5 19.5 26.7 26.7\n AvgPric 3.45-4.25 3.45-4.25 5.91 5.91\n Note - Average price in dlrs per CWT. X-Broken kernels not\nincluded - supply minus use does not equal ending stocks in\nbreakdowns. Rice season begins August 1.\n NOTES ON U.S. SUPPLY/DEMAND TABLES\n -- N.A. - Not available.\n -- Totals may not add due to rounding.\n -- Figures for 1986/87 are midpoint of USDA range.\n -- Feed usage for corn, wheat, soybean, feedgrains,\nsorghum, barley, oats includes residual amount.\n -- Residual amount included in rice and medium/short grain\nrice domestic usage.\n -- Rice, long grain, and medium/short grain rice average\nprice for 1985/86 estimates and 1986/87 projections are market\nprices and exclude cash retained under the marketing loan since\nApril, 1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:19:34.82",
"topics": [
"grain",
"oilseed",
"meal-feed",
"veg-oil",
"corn",
"wheat",
"soybean",
"soy-oil",
"soy-meal",
"cotton",
"rice",
"sorghum",
"barley",
"oat"
],
"places": [
"usa"
],
"id": "15875"
},
{
"title": "USDA ESTIMATES USSR COTTON CROP",
"body": "The U.S. Agriculture Department\nforecast the Soviet 1986/87 cotton crop at 11.20 mln bales\n(480-lbs net), vs 11.20 mln bales forecast last month.\n The department also estimated the 1985/86 Soviet cotton\ncrop at 12.10 mln bales, vs 12.10 mln bales last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:20:34.29",
"topics": [
"cotton"
],
"places": [
"usa",
"ussr"
],
"id": "15876"
},
{
"title": "USDA ESTIMATES SOUTH AFRICA CORN CROP, EXPORTS",
"body": "The U.S. Agriculture Department\nforecast South Africa's 1986/87 corn crop at 8.50 mln tonnes,\nvs 9.50 mln tonnes last month. It estimated the 1985/86 crop at\n8.08 mln, vs 8.08 mln last month.\n USDA forecast South African 1986/87 corn exports at 2.10\nmln tonnes, vs 3.00 mln tonnes last month, and 1985/86 exports\nat 2.75 mln tonnes, vs 2.75 mln tonnes last month.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:20:42.59",
"topics": [
"grain",
"corn"
],
"places": [
"usa",
"south-africa"
],
"id": "15877"
},
{
"title": "STOP AND SHOP COS <SHP> IN TWO-FOR-ONE SPLIT",
"body": "The Stop and Shop Cos Inc said its board\nvoted a two-for-one stock split payable July One, to\nstockholders of record May 29.\n It also said it was raising its quarterly cash dividend 16\npct to 32 cts per share from 27.5 cts per share prior.\n As a result of the split, the number of outstanding shares\nwill increase to 28 mln from 14 mln, the company said.\n The dividend is payable July One to shareholders of record\nMay 29, it said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:21:25.93",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15878"
},
{
"title": "NATIONAL BEVERAGE TO ACQUIRE FAYGO BEVERAGES",
"body": "<National Beverage Corp>\nsaid it agreed to acquire <Faygo Beverages Inc> for an\nundisclosed amount of cash.\n Faygo has revenues in excess of of 100 mln dlrs, National\nBeverage said.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 15:23:24.52",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15879"
},
{
"title": "SALOMON BROTHERS RESTRUCTURES LONDON OPERATION",
"body": "Salomon Brothers Inc said it was altering\nthe management structure of its London operation, Salomon\nBrothers International Ltd, following a similar move in New\nYork last October.\n Under the new structure, Charles McVeigh, who currently\nheads the London operation, will be chairman, while Miles\nSlater will be president and chief executive officer. Slater\nwill continue to be in charge of the firm's international fixed\nincome commitment taking and international capital markets\nservices.\n Bruce Koepfgen, manager of the London office, will be U.K.\nand European sales manager and general manager of the office.\n A board of directors also is being introduced consisting of\nseven managing directors involved in key areas of the firm's\nbusiness.\n They are Peter Clarke, George Hutchinson, Koepfgen,\nMcVeigh, Sheldon Prentice, Slater and Daniel Tyree.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:23:33.18",
"places": [
"usa",
"uk"
],
"id": "15880"
},
{
"title": "AUDIO/VIDEO AFFILIATES <AVA> 4TH QTR JAN 31 NET",
"body": "Shr 17 cts vs 28 cts\n Net 2,668,000 vs 3,655,000\n Revs 93.9 mln vs 83.8 mln\n Avg shrs 15.7 mln vs 13.2 mln\n 12 mths\n Shr 48 cts vs 58 cts\n Net 7,510,000 vs 7,482,000\n Revs 228.8 mln vs 181.9 mln\n Avg shrs 15.7 mln vs 12.9 mln\n NOTE: full name of company is audio/video affiliates Inc.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:26:05.81",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15881"
},
{
"title": "MEMORY METALS <MRMT> REMOVES CHAIRMAN",
"body": "Memory Metals Inc said that at a\nspecial meeting of the board of directors it removed M. Brian\nO'Shaugnessy as chairman, president and chief executive\nofficer.\n The company said it replaced O'Shaugnessy as president with\nStephen Fischer, formerly senior vice president and chief\noperating officer.\n The other two positions have not been filled yet, a\nspokesman for the company said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:26:12.76",
"places": [
"usa"
],
"id": "15882"
},
{
"title": "VLSI <VLSI> PLANS DEBT OFFERING",
"body": "VLSI Technology Inc said it\nplans to file a registration statement with the Securities and\nExchange Commission in mid-April covering a proposed\nunderwritten public offering of 50 mln dlrs principal amount of\nconvertible subordinated debentures.\n The company said it plans to use proceeds from the offering\nto fund growth and for capital expenditures associated with\nincreasing manufacturing capacity.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:26:19.87",
"places": [
"usa"
],
"id": "15883"
},
{
"title": "PROCTER AND GAMBLE <PG> SETS TURKISH VENTURE",
"body": "Procter and Gamble Co said its Swiss\nsubsidiary, Procter and Gamble AG, has concluded an agreement\nwith Mintax Deterjan Sanayii AS to establish a joint venture in\nTurkey.\n The venture, 50 pct owned by Procter and Gamble, has been\napproved by the Turkish government. It will market consumer\nproducts in Turkey. Other terms were not disclosed.\n Privately held Mintax, based in Istanbul, has 900 employees\nand makes laundry detergents, dishwashing products, shampoo,\nfabric softeners and deodorant. Its 1986 sales about 50 mln\ndlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:26:28.20",
"places": [
"usa",
"turkey"
],
"id": "15884"
},
{
"title": "FLUOROCARBON <FCBN> BUYS EATON <ETN> DIVISION",
"body": "Fluorocarbon Co said it\nsigned a definitive agreement to acquire Eaton Corp's\nIndustrial Polymer division for an undisclosed price.\n The polymer division, based in Aurora, Ohio, had 1986 sales\nof 86 mln dlrs, Fluorocarbon also said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:26:36.24",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15885"
},
{
"title": "FIRST UNION CORP <FUNC> 1ST QTR NET",
"body": "Shr 71 cts vs 61 cts\n Net 78.5 mln vs 64.6 mln\n NOTE: Current qtr includes gain of seven cts/shr from sale\nof securities. Year-ago restated.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:26:40.71",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15886"
},
{
"title": "AMEX SEAT SELLS FOR RECORD 380,000 DLRS",
"body": "The American Stock Exchange said a seat\non the exchange sold for 380,000 dlrs, a record price that is\n5,000 dlrs higher than the previous sale on Feb 17.\n The current bid is 330,000 dlrs and the offer, 425,000\ndlrs, the exchange said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:27:13.07",
"places": [
"usa"
],
"id": "15887"
},
{
"title": "FINANCIAL NEWS NETWORK INC <FNNI> 2ND QTR NET",
"body": "Qtr ended February 28\n Shr six cts vs three cts\n Net 765,138 vs 311,388\n Rev 8.3 mln vs 3.7 mln\n Avg shares 12,272,265 vs 11,377,491\n Six months\n Shr 17 cts vs five cts\n Net 2,073,057 vs 515,229\n Rev 15.0 mln vs 7.4 mln\n Avg shares 12,295,934 vs 11,200,000\n Reuter\n\u0003",
"date": " 9-APR-1987 15:28:13.99",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15888"
},
{
"title": "FIRST COLONIAL BANKSHARES CORP <FCOLA> 1ST QTR",
"body": "Shr 41 cts vs 35 cts\n Net 2,362,000 vs 1,613,000\n Avg shrs 5,567,300 vs 4,070,700\n Reuter\n\u0003",
"date": " 9-APR-1987 15:28:21.88",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15889"
},
{
"title": "SEASONAL EXPORTS REPORTED BY U.S. EXPORTERS",
"body": "Exports of the following commodities\nbetween start of current seasons and April 2, with comparisons,\nas reported to USDA by exporters, in thousand tonnes, unless\nnoted --\n 4/2/87 Prev Wk 4/3/86\n Wheat 21,044.6 20,398.3 19,725.8\n Soybeans 14,334.2 14,063.5 14,698.4\n Corn 20,296.0 19,194.6 25,182.6-x\n Sorghum 3,222.5 3,149.7 3,168.9-x\n Soybean Oil 138.4 135.8 179.9\n Soybean Meal 4,098.0 3,880.6 3,141.3\n Cotton 4,333.1 4,204.7 1,510.4\n X-2,059,300 tonnes of corn and 763,800 tonnes of sorghum added\nto reflect change in marketing year to Sept-Aug.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:28:36.43",
"topics": [
"grain",
"oilseed",
"meal-feed",
"veg-oil",
"wheat",
"corn",
"soybean",
"soy-oil",
"soy-meal",
"cotton"
],
"places": [
"usa"
],
"id": "15890"
},
{
"title": "EUROPEAN OFFSHORE RIG COUNT CONTINUES TO CLIMB",
"body": "Utilization of offshore mobile rigs in\nthe European/Mediterranean area continued to show strong gains\nlast week, increasing nearly two percentage points to 46.1 pct,\nOffshore Data Services said.\n The total number of working rigs in Europe and the\nMediterranean region was 71, reflecting an increase of three\nduring the week, compared to a total of 111 working rigs at\nthis time last year. In the previous week, the area also gained\nthree working rigs.\n Offshore Data Services said the worldwide utilization rate\nfor the week remained steady at 53.9 pct, reflecting a total of\n392 working rigs. Last year, a total of 479 rigs were working\nthroughout the world.\n In the Gulf of Mexico, the utilization rate decreased\nslightly to 35.5 pct, from 35.6 pct the previous week because\nof the addition of one rig to the Gulf fleet. A total of 83\nrigs were working last week in the Gulf out of a fleet of 234.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:29:05.71",
"places": [
"usa"
],
"id": "15891"
},
{
"title": "HAWAIIAN ELECTRIC <HE> TO BUY HAWAIIAN INSURANCE",
"body": "Hawaiian Electric Industries said it\nhas entered a letter of intent to buy the Hawaiian Insurance\nCompanies.\n The transaction is subject to a definitive agreement, and\ngovernment and board approvals.\n The Hawaiian Insurance Companies ad assets at the end of\n1986 of 137.4 mln dlrs and earned premiums of 46.1 mln dlrs.\n Hawaiian Electric said it plans to operate the comapny,\nwhich has 226 employees, with current management.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:29:52.85",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15892"
},
{
"title": "SOVIET UNION TO IMPORT MORE GRAIN IN 86/87-USDA",
"body": "The U.S. Agriculture Department\nincreased its estimate of 1986/87 grain purchases by the Soviet\nUnion to 28 mln tonnes, up two mln tonnes from last month.\n In its monthly report on the Soviet grain situation, the\nUSDA said imports will be higher than earlier estimated because\nSoviet grain buyers have been actively purchasing in the last\nmonth.\n USDA said the increased purchasing is \"somewhat surprising\"\nbecause of recent higher Soviet crop estimates.\n All of the increase in estimated imports will be in corn,\nUSDA said.\n Of the 28 mln tonnes total, 15 mln tonnes will be wheat, 12\nmln tonnes coarse grains, and the remaining one mln tonnes\nmiscellaneous grains and pulses, USDA said.\n USDA noted that the Soviet winter grain crop suffered\nthrough a severe winter and spring field work has been delayed.\n The severe winter \"is believed to have resulted in above\naverage winter-kill,\" USDA said.\n Some grain trade analysts have said abnormal winter losses\nmaybe one reason why the Soviet Union has been actively buying\ngrain recently.\n USDA said Moscow already has purchased over 25 mln tonnes\ngrain for delivery in 1986/87, including 14 mln tonnes wheat\nand 12 mln tonnes coarse grain.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:30:40.85",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"ussr"
],
"id": "15893"
},
{
"title": "DISNEY FAMILY MAKES BID FOR HOLLY SUGAR <HLY>",
"body": "The Roy Disney family disclosed in a\nfiling with the Securities and Exchange Commission that it made\na bid to acquire Holly Sugar Corp for a package of cash and\nsecurities.\n Shamrock Holdings of California Inc, a Disney family\ncompany, said it submitted the bid on April 8 to Salomon\nBrothers Inc, Holly Sugar's investment banker.\n The offer was for 45 dlrs in cash, securities with a face\nvalue of 70 dlrs, and a \"contingent payment certificate\" that\nwould pay out as much as 70 dlrs over a 20-year period for each\nshare of Holly Sugar outstanding.\n The Disney family already holds 101,300 Holly Sugar shares\nor 9.0 pct of the total outstanding following purchases of\n12,500 shares March 13-April 17, Shamrock told the SEC.\n Shamrock said it had asked for certain information about\nHolly Sugar's financial condition but had been turned down. It\nsaid its offer was therefore subject to further discussions.\n \"Once we have had an opportunity to complete our due\ndiligence evaluation of the company, including inspections of\ncertain facilities and meetings with key management personnel,\nwe would be prepared to negotiate all aspects of our proposal,\nincluding price,\" it said in its April 8 letter.\nREUTER^M\n\u0003",
"date": " 9-APR-1987 15:31:16.60",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15894"
},
{
"title": "U.S. EXPORTERS REPORT 200,000 TONNES WHEAT SOLD TO JORDAN FOR 1987/88 DELIVERY\n",
"date": " 9-APR-1987 15:33:44.51",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"jordan"
],
"id": "15895"
},
{
"title": "UNIVERSAL HEALTH REALTY <UHT> 1ST QTR NET",
"body": "Shr 26 cts vs nil\n Net 2,244,000 vs nil\n Rev 3.4 mln vs nil\n NOTE: Company's full name is Universal Health Realty Income\nTrust. Quarter is company's first full quarter of earnings.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:34:29.64",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15896"
},
{
"title": "FROST AND SULLIVAN INC <FRSL> INCREASES PAYOUT",
"body": "Semi-annual div seven cts vs six cts prior\n Pay June One\n Record May One\n.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:34:32.77",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15897"
},
{
"title": "C.O.M.B. <CMCO> MAKES ACQUISITION",
"body": "C.O.M.B. Co said it acquired for 8.7\nmln dlrs the principal assets of National Tech Industries Inc\nand Telkon Corp.\n The companies are engaged in servicing, sales and\ntelemarketing of consumer electronic merchandise.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:34:36.71",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15898"
},
{
"title": "RAI RESEARCH CORP <RAC> 3RD QTR FEB 28",
"body": "SHr one cts vs 14 cts\n Net 17,806 vs 328,290\n Revs 1.3 mln vs 2.2 mln\n Nine months\n Shr 27 cts vs 26 cts\n Net 640,156 vs 622,251\n Revs 5.6 mln vs 5.6 mln\n NOTE:1986 net includes loss of 49,040 in nine months from\ndiscontinued and gain of 15,598 dlrs in 3rd qtr.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:34:41.47",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15899"
},
{
"title": "CENTEL <CNT> COMPLETES ACQUISITION",
"body": "Centel Corp said it completed the\nacquisition of Welbac Cable Television Corp, which serves more\nthan 2,500 cable television subscribers in east central\nMichigan.\n Terms were not disclosed.\n With the addition of Welbac customers, Centel Cable\nTelevision Co of Michigan serves more than 83,000 customers.\nOverall, Centel has nearly 495,000 customers in seven states.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:34:47.21",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15900"
},
{
"title": "JAMES RIVER CORP <JR> SETS REGULAR PAYOUT",
"body": "Qtrly div 10 cts vs 10 cts prior\n Pay April 30\n Record April 21\n Reuter\n\u0003",
"date": " 9-APR-1987 15:35:04.95",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15901"
},
{
"title": "THREE D DEPARTMENTS INC <TDD> SETS PAYOUT",
"body": "Class A qtly div 2-1/2 cts vs 2-1/2 cts prior\n Class B qtly div 1-1/2 cts vs 1-1/2 cts prior\n Pay May 8\n Record April 24\n Reuter\n\u0003",
"date": " 9-APR-1987 15:35:09.24",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15902"
},
{
"title": "U.S. EXPORTERS REPORT 300,000 TONNES SOYBEAN MEAL TO IRAQ FOR SPLIT DELIVERY\n",
"date": " 9-APR-1987 15:35:24.38",
"topics": [
"meal-feed",
"soy-meal"
],
"places": [
"usa",
"iraq"
],
"id": "15903"
},
{
"title": "U.S. EXPORTERS REPORT 100,000 TONNES CORN SOLD TO ALGERIA FOR 1986/87 DELIVERY\n",
"date": " 9-APR-1987 15:36:04.85",
"topics": [
"grain",
"corn"
],
"places": [
"usa",
"algeria"
],
"id": "15904"
},
{
"title": "BFIM-SOVAC OFFERS BOND REDEMPTION",
"body": "Banque de Financement Immobilier SOVAC,\nBFIM-SOVAC, launched an offer to repurchase its 14.30 pct 1980\nbond issue at a price of 2,180 francs per bond, a Paris Bourse\nstatement said.\n The repurchase offer, managed by Lazard Freres et Cie,\nopens April 10 and closes April 27. The 140 mln franc issue\ncomprised 70,000 bonds of 2,000 franc nominal value each.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:36:15.29",
"places": [
"france"
],
"id": "15905"
},
{
"title": "WORLD SUPPLY/DEMAND ESTIMATES ISSUED BY USDA",
"body": "The U.S. Agriculture Department made\nthe following 1986/87 projections in its world Supply/Demand\nreport, with comparisons, in mln tonnes, except where noted --\n Total World Grain\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Produc 1,682.31 1,686.11 1,663.69 1,663.70\n Total\n Supply 2,025.71 2,028.45 1,919.18 1,920.13\n Trade-X 212.15 211.89 204.42 203.92\n Usage 1,635.01 1,630.40 1,575.78 1,577.79\n End Stks 390.70 398.05 343.40 342.34\n X-Based on export estimate.\n All Wheat 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stks 137.05 136.48 125.54 125.87\n Production 529.20 528.40 498.97 498.81\n Imports 97.57 98.27 94.56 94.36\n Feed Use 101.79 100.82 90.19 90.56\n Total Domes 517.26 514.89 487.45 488.20\n Exports 101.08 101.20 95.92 95.76\n End Stocks 148.99 149.99 137.05 136.48\n Note - World imports/exports may not balance due to differing\nmarketing years, grains in transit and reporting discrepancies.\n Coarse Grain\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 181.64 181.10 107.80 108.40\n Production 835.21 838.82 844.60 844.84\n Imports 95.66 93.77 95.70 95.18\n Feed Use 514.07 510.20 510.20 510.80\n Total Domes 796.33 793.64 770.76 772.14\n Exports 98.97 98.47 96.02 95.76\n End Stocks 220.52 226.28 181.64 181.10\n Note - World imports/exports may not balance due to differing\nmarketing years, grain in transit and reporting discrepancies.\n Corn (Mln Tonnes)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 123.08 123.11 61.09 61.75\n Production 477.26 480.29 481.86 481.92\n Imports 61.03 58.59 62.12 62.08\n Feed Use 295.49 289.47 286.53 287.42\n Ttl Domes 444.78 439.80 419.88 420.55\n Exports 62.80 62.10 62.53 62.15\n End Stocks 155.56 163.61 123.08 123.11\n Note - World imports/exports may not balance due to differing\nmarketing years, grain in transit and reporting discrepancies.\n\n Soybeans\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 23.03 22.84 17.59 17.58\n Production 99.98 99.43 96.74 96.53\n Imports 26.21 26.27 27.08 27.08\n Crushings 79.69 79.33 76.16 76.15\n Ttl Domes 97.53 96.40 92.36 92.34\n Exports 26.45 26.43 26.02 26.01\n End Stocks 25.23 25.71 23.03 22.84\n Note - Imports and exports do not balance due to differing\nmarketing years and time lags between reported exports and\nimports.\n Soybean Meal\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 2.55 2.47 2.79 2.74\n Production 62.71 62.40 60.09 60.09\n Imports 23.47 23.49 23.48 23.47\n Consumption 62.69 62.49 61.06 61.10\n Exports 23.51 23.39 22.76 22.74\n End Stocks 2.52 2.47 2.55 2.47\n Note - Imports and exports may not balance due to differing\nmarketing years and time lags between reported exports and\nimports.\n Soybean Oil\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 1.61 1.51 1.37 1.36\n Production 14.20 14.13 13.65 13.66\n Imports 3.31 3.29 3.08 3.05\n Consumption 14.02 14.03 13.33 13.40\n Exports 3.33 3.35 3.15 3.16\n End Stocks 1.78 1.54 1.61 1.51\n Note - Imports and exports do not balance due to differing\nmarketing years and time lags between reported exports and\nimports.\n Cotton (Mln Bales)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 45.87 48.14 42.70 43.11\n Production 69.53 69.66 78.94 78.92\n Imports 23.07 23.07 21.49 21.45\n Mill Use 80.72 77.08 76.84 74.79\n Exports 23.37 23.50 20.25 20.28\n End Stocks 34.16 39.99 45.87 48.14\n Note - Imports and exports may not balance due to cotton in\ntransit and reporting discrepancies in some countries.\n Rice (Milled Basis)\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 24.71 24.75 22.16 22.16\n Production 317.90 318.90 320.12 320.05\n Imports 10.56 10.63 11.68 11.70\n Dom. Use 321.41 321.87 317.58 317.46\n Exports 12.11 12.22 12.49 12.39\n End Stocks 21.19 21.78 24.71 24.75\n Reuter\n\u0003",
"date": " 9-APR-1987 15:37:06.95",
"topics": [
"grain",
"wheat",
"corn",
"oilseed",
"soybean",
"meal-feed",
"soy-meal",
"veg-oil",
"soy-oil",
"cotton",
"rice"
],
"places": [
"usa"
],
"id": "15906"
},
{
"title": "RAI RESEARCH <RAC> SEES LOWER SALE IN NEAR TERM",
"body": "RAI Research Corp said it appears\nthat the reduced level of sales may continue for the near term.\n Earlier, RAI reported that third quarter net declined to\n17,806 dlrs on sales of 1.3 mln dlrs from net income of 328,290\ndlrs on sales of 2.2 mln dlrs a year ago.\n It said sales declined as a result of reduced sales of\npermion battery separators to Japanese customers and it does\nnot know the duration or extent of these factors.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:38:46.31",
"places": [
"usa"
],
"id": "15907"
},
{
"title": "ADAMS EXPRESS CO <ADX> MARCH 31 ASSETS",
"body": "Shr 22.50 dlrs vs 21.74 dlrs\n Assets 546.9 mln vs 485.2 mln\n Shrs out 24.3 mln vs 22.3 mln\n NOTE: lastest assets after capital gain distributions of 28\ncts a share in February 1987 and 2.55 dlrs a share in December\n1986\n Reuter\n\u0003",
"date": " 9-APR-1987 15:39:40.87",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15908"
},
{
"title": "PETROLEUM AND RESOURCES CORP <PEO> MARCH 31",
"body": "Shr 31.36 dlrs vs 25.23 dlrs\n Assets 286.5 mln vs 253.0 mln\n Shrs out 9,138,526 vs 8,839,695\n NOTE: latest assets after capital gain distributions of 50\ncts a share in February 1987 and 83 cts a share in December\n1986, and with 29,955,000 stated value 1.676 dlr convertible\npreferred stock outstanding.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:41:21.44",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15909"
},
{
"title": "CORN SUPPLY/DEMAND BY COUNTRY -- USDA",
"body": "The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of corn, by country, as follows in mln tonnes --\n USSR CORN\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks N.A. N.A. N.A. N.A.\n Production 12.50 12.50 14.40 14.40\n Imports 8.00 6.00 10.40 10.40\n Domes Use 20.50 19.50 24.40 24.40\n Exports Nil Nil Nil Nil\n End Stocks N.A. N.A. N.A. N.A.\n N.A. - Not Available.\n SOUTH AFRICA CORN, in mln tonnes -- \n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 1.20 1.20 1.87 1.87\n Production 8.50 9.50 8.08 8.08\n Imports Nil Nil 0.01 0.01\n Domes Use 6.10 6.20 6.00 6.00\n Exports 2.10 3.00 2.75 2.75\n End Stocks 1.50 1.50 1.20 1.20\n EC-12 CORN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 5.17 5.28 2.89 2.89\n Production 25.00 25.03 25.70 25.78\n Imports 10.69 10.61 12.82 12.82\n Domes Use 28.20 29.00 29.46 29.60\n Exports 7.91 7.94 6.78 6.61\n End Stocks 4.75 3.98 5.17 5.28\n ARGENTINA CORN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.52 0.39 0.39 0.39\n Production 10.00 11.00 12.10 12.10\n Imports Nil Nil Nil Nil\n Domes Use 4.60 4.60 4.60 4.60\n Exports 5.70 6.50 7.37 7.50\n End Stocks 0.22 0.29 0.52 0.39\n THAILAND CORN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 0.43 0.33 0.11 0.11\n Production 4.10 4.10 5.35 5.15\n Imports Nil Nil Nil Nil\n Domestic Use 1.55 1.35 1.35 1.25\n Exports 2.80 3.00 3.67 3.67\n End Stocks 0.18 0.08 0.43 0.33\n JAPAN CORN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 1.24 1.24 1.06 1.06\n Production Nil Nil Nil Nil\n Imports 15.50 15.44 14.55 14.55\n Domes Use 15.51 15.45 14.37 14.37\n Exports Nil Nil Nil Nil\n End Stocks 1.24 1.24 1.24 1.24\n Reuter\n\u0003",
"date": " 9-APR-1987 15:45:22.21",
"topics": [
"grain",
"corn"
],
"organisations": [
"ec"
],
"places": [
"usa",
"ussr",
"south-africa",
"argentina",
"thailand",
"japan"
],
"id": "15910"
},
{
"title": "USDA REPORTS EXPORT SALES ACTIVITY",
"body": "The U.S. Agriculture Department said\nprivate U.S. exporters reported sales of 200,000 tonnes of\nwheat to Jordan, 300,000 tonnes of soybean meal to Iraq and\n100,000 tonnes of corn to Algeria.\n The wheat for Jordan includes 165,000 tonnes of hard red\nwinter and 35,000 tonnes of soft red winter and is for delivery\nduring the 1987/88 marketing year.\n The soybean meal sales to Iraq includes 180,000 tonnes for\ndelivery during the 1986/87 season and 120,000 tonnes during\nthe 1987/88 season, the department said.\n The 100,000 tonnes of corn sales to Algeria are for\ndelivery during the 1986/87 season, it said.\n The marketing year for wheat begins June 1, corn September\n1, and soybean meal October 1.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:45:37.47",
"topics": [
"grain",
"meal-feed",
"wheat",
"corn",
"soy-meal"
],
"places": [
"usa",
"jordan",
"iraq",
"algeria"
],
"id": "15911"
},
{
"title": "INTERNATIONAL AMERICAN <HOME> TO ACQUIRE COS",
"body": "International American Homes Inc\nsaid it entered into a conditional contract to acquire the\n<Maione-Hirschberg Cos Inc> and affiliated entitles for 19 mln\ndlrs.\n International American, whose stock was halted on Nasdaq\nearlier, said the purchase price is payable 12 mln dlrs in cash\nand the balance in its own common shares.\n Selling shareholders may earn an additional amount up to a\nmaximum of eight mln dlrs payable in cash based on the future\nperformance of the companies acquired during the three years\nending March 31, 1990, International said.\n The acquisition is subject to certain conditions, such as\nsatisfactory results of due diligence investigations, the\ncompany said.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 15:45:45.98",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15912"
},
{
"title": "SONY CHAIRMAN FORECASTS LOWER PROFITS THIS YEAR",
"body": "Sony Corp <SNE.T> chairman Akio\nMorita said Sony's profits would be sharply down in 1987 as a\nresult of the dollar's decline.\n Sony Corp posted net consolidated income of 41.89 billion\nyen (290 million dollars) in 1986, 42.6 pct down on 1985's\n73.02 billion yen (506 million dollars).\n But Morita added that Japan would benefit from the strong\nyen by saving on its energy import bill and he expected profits\nto recover from 1988 onwards.\n He was speaking to reporters at a sony factory opening\nhere.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:50:33.60",
"topics": [
"earn"
],
"places": [
"france",
"japan"
],
"id": "15913"
},
{
"title": "COARSE GRAIN SUPPLY/DEMAND BY COUNTRY -- USDA",
"body": "The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of coarse grains, by country, as follows in mln\ntonnes --\n USSR COARSE GRAIN\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks N.A. N.A. N.A. N.A.\n Production 103.30 103.30 99.99 99.99\n Imports 12.00 10.00 13.70 13.70\n Domes Use 112.30 112.30 111.99 111.99\n Exports NIL NIL NIL NIL\n End Stocks N.A. N.A. N.A. N.A.\n N.A. - Not Available.\n EC-12 COARSE GRAIN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 14.91 14.93 10.53 10.53\n Production 81.22 81.19 88.21 88.28\n Imports 16.58 17.26 18.29 18.24\n Dom Use 79.64 81.27 82.38 82.55\n Exports 19.90 19.96 19.73 19.56\n End Stocks 13.18 12.15 14.91 14.93\n EASTERN EUROPE COARSE GRAIN, mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 4.07 3.72 5.14 5.14\n Production 73.95 74.50 68.28 68.38\n Imports 4.90 4.47 5.58 5.26\n Dom Use 73.04 73.23 72.65 72.77\n Exports 3.55 3.55 2.28 2.28\n End Stocks 6.34 5.46 4.07 3.72\n JAPAN COARSE GRAIN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 2.32 2.23 1.91 1.91\n Production 0.35 0.35 0.39 0.39\n Imports 21.56 21.50 21.51 21.51\n Dom Use 21.79 21.73 21.49 21.49\n Exports NIL NIL NIL NIL\n End Stocks 2.44 2.44 2.32 2.32\n ARGENTINA COARSE GRAIN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.78 0.53 0.83 0.83\n Production 13.99 15.44 17.06 17.14\n Imports 0.02 NIL NIL NIL\n Domes Use 7.73 7.75 7.76 7.87\n Exports 6.60 7.73 9.43 9.58\n End Stocks 0.46 0.49 0.78 0.53\n CANADA COARSE GRAIN, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 6.19 6.19 4.66 4.61\n Production 27.62 27.62 24.95 24.95\n Imports 0.30 0.30 0.31 0.31\n Dom Use 19.80 19.80 18.99 18.96\n Exports 7.41 7.21 4.74 4.72\n End Stocks 6.90 7.10 6.19 6.19\n THAILAND COARSE GRAINS, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.49 0.38 0.16 0.16\n Production 4.40 4.40 5.67 5.47\n Imports NIL NIL NIL NIL\n Domes Use 1.57 1.37 1.40 1.30\n Exports 3.10 3.30 3.94 3.95\n End Stocks 0.22 0.11 0.49 0.38\n Reuter\n\u0003",
"date": " 9-APR-1987 15:51:15.77",
"topics": [
"grain"
],
"organisations": [
"ec"
],
"places": [
"usa",
"ussr",
"japan",
"argentina",
"canada",
"thailand"
],
"id": "15914"
},
{
"title": "AMR <AMR> AMERICAN AIR OFFERS TO SHIFT FLIGHTS",
"body": "AMR Corp's American Airlines said it is\nprepared to shift a total of 1,010 flights and add more than 33\nhours a day in flying time to assist the process of reducing\nflight delays in the nation's air transport system.\n American said it proposes to make the changes on June 15 at\nits two major conecting hubs, Dallas/Fort Worth and Chicago,\nwhich have been the focal points for wide-ranging schedule\nexperiments by the airline over the past several weeks.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:51:46.57",
"places": [
"usa"
],
"id": "15915"
},
{
"title": "EXPORT BONUS WHEAT FOR JORDAN --USDA",
"body": "The Commodity Credit Corporation\n(CCC) accepted eight bonus offers from two exporters on sales\nof 190,000 tonnes of hard red winter and 35,000 tonnes of soft\nred winter wheat to Jordan, the U.S. Agriculture Department\nsaid.\n The department said the bonuses awarded averaged 38.08 dlrs\nper tonne and the wheat is for delivery May-November, 1987.\n The bonus awards were made to Louis Dreyfus Corp (200,000 \ntonnes), and Continental Grain Co (25,000 tonnes) and will be\npaid in the form of commodities from CCC stocks.\n The purchases of U.S. wheat completes the Export\nEnhancement Program initiative announced on December 31, 1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:52:50.75",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"jordan"
],
"id": "15916"
},
{
"title": "ARGENTINE 1986/87 GRAIN OILSEED REGISTRATIONS",
"body": "Argentine grain board preliminary\nfigures show 1986/87 crop export registrations of grains and\noilseeds in the week to April 8, were as follows, in tonnes,\ncompared with the previous week and the comparable week a year\nearlier.\n BREAD WHEAT nil nil nil\n MAIZE 113,500 21,800 51,300\n SORGHUM 13,600 nil 26,500\n SOYBEAN 30,000 36,000 72,000\n SUNFLOWERSEED nil nil 19,100\n Cumulative figures export registrations for the 1986/87\ncrop to April 8, 1987, with comparative figures for the 1985/86\ncrop up to April 9, 1986, in brackets, were in thousands of\ntonnes.\n BREAD WHEAT 2,692,4 (4,161.0)\n MAIZE 2,305.1 (5,200.0)\n SORGHUM 220.5 (625.7)\n SOYBEAN 561.3 (524.5)\n SUNFLOWERSEED 45.7 (213.2)\n REUTER\n\u0003",
"date": " 9-APR-1987 15:52:59.33",
"topics": [
"grain",
"wheat",
"soybean",
"corn",
"sorghum",
"oilseed",
"sunseed"
],
"places": [
"argentina"
],
"id": "15917"
},
{
"title": "WINN ENTERPRISES <WNN> UNIT SELLS DAIRY",
"body": "Winn Enterprises' Knudsen Foods Inc\nsaid it entered an agreement to sell its Hawaiian dairy\noperations to Foremost Foods Inc for 13 mln dlrs cash.\n The company said the purchase price is subject to\nadjustment and the entire transaction is subject to approval by\nthe U.S. Bankruptcy Court for the Central District of\nCalifornia.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:53:05.60",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15918"
},
{
"title": "INTERNATIONAL AMERICAN <HOME> SEES HIGHER REVS",
"body": "International American Homes Inc\nsaid it expects revenues for the year ending March 31, 1987 to\nbe approximately 145 mln dlrs.\n It said it recorded 30 mln dlrs in revenues for the year\nprior, and 115 mln dlrs pro forma revenues for the prior fiscal\nyear which includes the May 1986 acquistion of the Porten\nSullivan Group.\n On a pro forma basis, International said revenues for the\nyear ended March 31, 1987, would be approximately 200 mln dlrs\nif the proposed acquisiton of Maione-Hirschberg Cos Inc and\nDiversified Shelter Group are consummated.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:53:20.09",
"places": [
"usa"
],
"id": "15919"
},
{
"title": "NATIONAL BEVERAGE TO ACQUIRE FAYGO",
"body": "<National Beverage Corp>\nsaid it agreed to acquire privately held Faygo Beverages Inc\nfor an undisclosed amount of cash.\n The company said Detroit-based Faygo, a soft drink maker,\nhas annual revenues of more than 100 mln dlrs.\n National Beverage, which is also privately held, owns and\nbottles Shasta Beverages, Spree All Natural Beverages and\nprivate label brands in its 11 bottling facilities in the\nUnited States.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:54:13.52",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15920"
},
{
"title": "SOYBEAN SUPPLY/DEMAND BY COUNTRY -- USDA",
"body": "The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of soybeans, by country, as follows in mln tonnes --\n BRAZIL SOYBEANS\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 4.19 4.01 4.71 4.71\n Production 17.00 17.00 13.90 13.70\n Imports 0.35 0.35 2.09 0.29\n Domestic Use 14.54 14.54 13.51 13.49\n Exports 2.50 2.50 1.20 1.20\n End Stocks 4.50 4.32 4.19 4.01\n ARGENTINA SOYBEANS, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 1.83 1.83 1.80 1.80\n Production 7.70 7.70 7.30 7.30\n Imports NIL NIL NIL NIL\n Domestic Use 4.97 4.97 4.74 4.74\n Exports 2.65 2.65 2.54 2.54\n End Stocks 1.91 1.91 1.83 1.83\n EC-12 SOYBEANS, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 0.51 0.52 0.66 0.66\n Production 0.83 0.83 0.33 0.33\n Imports 12.89 12.85 12.99 12.96\n Domestic Use 13.72 13.68 13.34 13.30\n Exports 0.11 0.11 0.13 0.13\n End Stocks 0.40 0.41 0.51 0.52\n JAPAN SOYBEANS, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.76 0.76 0.79 0.79\n Production 0.25 0.25 0.23 0.23\n Imports 4.84 4.84 4.80 4.80\n Domes Use 5.10 5.10 5.06 5.06\n Exports NIL NIL NIL NIL\n End Stocks 0.75 0.75 0.76 0.76\n Reuter\n\u0003",
"date": " 9-APR-1987 15:55:49.23",
"topics": [
"oilseed",
"soybean"
],
"organisations": [
"ec"
],
"places": [
"usa",
"brazil",
"japan"
],
"id": "15921"
},
{
"title": "SOYBEAN MEAL SUPPLY/DEMAND BY COUNTRY -- USDA",
"body": "The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of soybean meal, by country, as follows in mln tonnes\n--\n ARGENTINA SOYBEAN MEAL --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.13 0.13 0.19 0.19\n Production 3.67 3.67 3.49 3.49\n Imports NIL NIL NIL NIL\n Domes Use 0.35 0.35 0.35 0.35\n Exports 3.30 3.30 3.20 3.20\n End Stocks 0.15 0.15 0.13 0.13\n BRAZIL SOYBEAN MEAL, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.61 0.60 0.72 0.72\n Production 10.40 10.39 9.69 9.66\n Imports NIL NIL NIL NIL\n Domes Use 2.55 2.55 2.41 2.40\n Exports 7.85 7.85 7.38 7.38\n End Stocks 0.61 0.59 0.61 0.60\n EC-12 SOYBEAN MEAL, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/86 04/09/87 03/09/87\n Start Stcks 0.40 0.40 0.44 0.44\n Production 10.44 10.45 10.18 10.17\n Imports 13.03 13.03 13.48 13.48\n Domes Use 18.50 18.49 18.59 18.57\n Exports 5.07 5.09 5.10 5.11\n End Stocks 0.30 0.30 0.40 0.40\n Reuter\n\u0003",
"date": " 9-APR-1987 15:56:23.44",
"topics": [
"meal-feed",
"soy-meal"
],
"organisations": [
"ec"
],
"places": [
"usa",
"argentina"
],
"id": "15922"
},
{
"title": "SOYBEAN OIL SUPPLY/DEMAND BY COUNTRY -- USDA",
"body": "The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of soybean oil, by country, in mln tonnes --\n ARGENTINA --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.10 0.10 0.10 0.10\n Production 0.77 0.77 0.73 0.73\n Imports NIL NIL NIL NIL\n Domes Use 0.10 0.10 0.11 0.11\n Exports 0.66 0.66 0.63 0.63\n End Stocks 0.10 0.10 0.10 0.10\n BRAZIL SOYBEAN OIL, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.32 0.28 0.24 0.24\n Production 2.52 2.51 2.35 2.35\n Imports 0.15 0.15 0.12 0.12\n Domes Use 2.00 2.00 1.94 1.98\n Exports 0.65 0.65 0.45 0.45\n End Stocks 0.34 0.28 0.32 0.28\n EC-12 SOYBEAN OIL, in mln tonnes --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.22 0.22 0.23 0.22\n Production 2.32 2.33 2.26 2.26\n Imports 0.44 0.44 0.50 0.50\n Domes Use 1.46 1.45 1.38 1.38\n Exports 1.29 1.30 1.39 1.39\n End Stocks 0.23 0.23 0.22 0.22\n INDIA SOYBEAN OIL --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 0.12 0.07 0.21 0.21\n Production 0.17 0.17 0.15 0.15\n Imports 0.35 0.35 0.25 0.25\n Domes Use 0.52 0.52 0.49 0.54\n Exports NIL NIL NIL NIL\n End Stocks 0.12 0.07 0.12 0.07\n Reuter\n\u0003",
"date": " 9-APR-1987 15:56:51.82",
"topics": [
"veg-oil",
"soy-oil"
],
"organisations": [
"ec"
],
"places": [
"usa",
"argentina",
"brazil",
"india"
],
"id": "15923"
},
{
"title": "ROYAL DUTCH (RD) UNIT TO RAISE HEAVY FUEL PRICES",
"body": "Scallop Petroleum Corp, a subsidiary of\nRoyal Dutch/Shell group, said it will raise contract prices for\nheavy fuel 50 cts to one dlr a barrel, effective tomorrow.\n The increase brings the price for 0.5 pct sulphur fuel to\n21.50 dlrs, up 50 cts, 0.7 pct sulphur to 21 dlrs, up 75 cts,\n0.7 pct sulphur to 21 dlrs, up 75 cts, one pct sulphur to 20.25\ndlrs, up 75 cts, two pct sulphur to 19.75 dlrs, up one dlr, 2.2\npct sulphur to 19.50 dlrs, up one dlr, 2.8 pct sulphur 19 dlrs,\nup one dlr, the company said.\n Price for 0.3 pct sulphur was unchanged at 22.25 dlrs, it\nsaid.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:57:15.74",
"topics": [
"fuel"
],
"places": [
"usa"
],
"id": "15924"
},
{
"title": "COTTON SUPPLY/DEMAND BY COUNTRY -- USDA",
"body": "The U.S. Agriculture Department\ndetailed world supply/demand data for major importers and\nexporters of cotton, by country, as follows, in mln 480-lb\nbales --\n CHINA COTTON --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 16.00 18.30 19.40 19.80\n Production 16.30 16.30 19.00 19.00\n Imports X X X X\n Domes Use 21.00 17.50 19.50 17.50\n Exports 2.30 2.50 2.90 2.90\n End Stocks 9.05 14.55 16.00 18.30\n X - Less than 5,000 bales\n PAKISTAN COTTON, in mln 480 bales --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 1.07 1.07 1.05 1.05\n Production 6.10 6.10 5.67 5.67\n Imports X X X X\n Domestic Use 2.50 2.50 2.34 2.34\n Exports 3.00 3.00 3.15 3.15\n End Stocks 1.51 1.51 1.07 1.07\n X - Less than 5,000 bales.\n USSR COTTON, in mln 480-lbs bales --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 2.76 2.76 2.62 2.62\n Production 11.20 11.20 12.10 12.10\n Imports 1.00 1.00 0.65 0.65\n Domestic Use 9.70 9.70 9.60 9.60\n Exports 2.80 2.80 3.00 3.00\n End Stocks 2.46 2.46 2.76 2.76\n JAPAN COTTON, in mln 480-lbs bales --\n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stocks 0.52 0.52 0.61 0.61\n Production NIL NIL NIL NIL\n Imports 3.10 3.10 3.05 3.05\n Domestic Use 3.10 3.10 3.15 3.15\n Exports NIL NIL NIL NIL\n End Stocks 0.52 0.52 0.52 0.52\n Reuter\n\u0003",
"date": " 9-APR-1987 15:57:32.77",
"topics": [
"cotton"
],
"places": [
"usa",
"china",
"pakistan",
"ussr",
"japan"
],
"id": "15925"
},
{
"title": "U.S. SELLS 1-YEAR BILLS AT AVERAGE 5.92 PCT, STOP 5.93 PCT, AWARDED AT HIGH YIELD 80 PCT\n",
"date": " 9-APR-1987 15:57:46.35",
"places": [
"usa"
],
"id": "15926"
},
{
"title": "EXPORT BONUS WHEAT FLOUR TO IRAQ --USDA",
"body": "The Commodity Credit Corporation\n(CCC) accepted a bid for an export bonus to cover a sale of\n12,500 tonnes of U.S. wheat flour to Iraq, the U.S. Agriculture\nDepartment said.\n The department said the bonus awarded was 105.82 dlrs per\ntonne and the wheat flour is for shipment July 1-10, 1987.\n The bonus was awarded to The Pillsbury Company and will be\npaid in the form of commodities from CCC stocks.\n An additional 150,000 tonnes of wheat flour is still\navailable to Iraq under the Export Enhancement Program\ninitiative announced January 7, 1987, the department said.\n Reuter\n\u0003",
"date": " 9-APR-1987 15:57:57.17",
"topics": [
"grain",
"wheat"
],
"places": [
"usa",
"iraq"
],
"id": "15927"
},
{
"title": "RICE SUPPLY/DEMAND FOR THAILAND -- USDA",
"body": "The U.S. Agriculture Department\ndetailed rice supply/demand milled-basis data for Thailand, the\nworld's major rice exporter, as follows in mln tonnes -- \n 1986/87 1985/86\n 04/09/87 03/09/87 04/09/87 03/09/87\n Start Stcks 1.32 1.33 1.46 1.46\n Production 11.88 12.14 13.00 13.00\n Imports NIL NIL NIL NIL\n Domes Use 8.73 8.73 8.80 8.80\n Exports 3.70 3.70 4.34 4.34\n End Stocks 0.77 1.04 1.32 1.33\n Reuter\n\u0003",
"date": " 9-APR-1987 15:58:20.54",
"topics": [
"grain",
"rice"
],
"places": [
"usa",
"thailand"
],
"id": "15928"
},
{
"title": "USDA FLORIDA ORANGE REPORT CONSIDERED BEARISH",
"body": "The U.S. Agriculture Department's\nlatest estimates on 1986/87 Florida orange production and\norange juice yield are bearish for the frozen concentrated\norange juice futures market because the yield increase was\ngreater than expected, FCOJ traders and analysts said.\n The USDA projected an average yield of 1.50 gallons of FCOJ\nper box versus last month's estimate of 1.47 gallons.\n The government estimated Florida orange production\n(excluding Temples) at 122.9 mln boxes versus 124 mln last\nmonth. Temples were unchanged at 3.4 mln boxes.\n Traders and analysts said the unexpectedly large yield\nincrease outweighed the anticipated drop in box count.\n reuter\n\u0003",
"date": " 9-APR-1987 15:58:58.90",
"topics": [
"orange"
],
"places": [
"usa"
],
"id": "15929"
},
{
"title": "JAMES RIVER CORP <JR> SETS REGULAR DIVIDEND",
"body": "Qtly div 10 cts vs 10 cts prior\n Pay April 30\n Record April 21\n Reuter\n\u0003",
"date": " 9-APR-1987 15:59:06.97",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15930"
},
{
"title": "CANADA SOUTHERN PETROLEUM <CSW> TO SELL STOCK",
"body": "Canada Southern Petroleum Ltd said its\nboard authorized the sale of additional limited voting stock\nexclusively to the company's shareholders.\n A registration statement in connection with the proposed\noffering was filed with the U.S. Securities and Exchange\nCommission, it said.\n Details on the offering have not been determined, it added.\n Canada Southern said it has approximately nine mln shares\nof limited voting stock outstanding, with 15 mln shares\nauthorized.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:01:37.92",
"places": [
"usa",
"canada"
],
"id": "15931"
},
{
"title": "NORANDA BEGINS SALVAGE OPERATIONS AT MURDOCHVILLE",
"body": "<Noranda Inc> said it began salvage\noperations at its Murdochville, Quebec, mine, where a fire last\nweek killed one miner and caused 10 mln dlrs in damage.\n Another 56 miners were trapped underground for as long as\n24 hours before they were brought to safety.\n Noranda said the cause and full extent of the damage is\nstill unknown but said it does know that the fire destroyed\n6,000 feet of conveyor belt.\n Noranda said work crews have begun securing the ramp\nleading into the zone where the fire was located. The company\nsaid extreme heat from the fire caused severe rock degradation\nalong several ramps and drifts in the mine.\n Noranda estimated that the securing operation for the zone\nwill not be completed before the end of April.\n Noranda said the Quebec Health and Safety Commission, the\nQuebec Provincial Police and Noranda itself are each conducting\nan investigation into the fire.\n Production at the mine has been suspended until the\ninvestigations are complete. The copper mine and smelter\nproduced 72,000 tons of copper anodes in 1986 and employs 680\npeople.\n The smelter continues to operate with available\nconcentrate from stockpiled supplies, Noranda said. Reuter\n Reuter\n\u0003",
"date": " 9-APR-1987 16:01:44.92",
"topics": [
"copper"
],
"places": [
"canada"
],
"id": "15932"
},
{
"title": "NEWHALL INVESTMENT PROPERTIES <NIP> PAYOUT",
"body": "Shr 10 cts vs 10 cts prior qtr\n Pay June one\n Record April 24\n\n Reuter\n\u0003",
"date": " 9-APR-1987 16:03:49.23",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15933"
},
{
"title": "NEWHALL RESOURCES <NR> QTLY DISTRIBUTION",
"body": "Shr 15 cts vs 15 cts prior qtr\n Pay June one\n Record April 24\n\n Reuter\n\u0003",
"date": " 9-APR-1987 16:04:05.09",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15934"
},
{
"title": "TREASURY BALANCES AT FED FELL ON APRIL 8",
"body": "Treasury balances at the Federal\nReserve fell on April 8 to 3.531 billion dlrs from 4.229\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 11.345\nbillion dlrs from 12.149 billion dlrs on the same respective\ndays.\n The Treasury's operating cash balance totaled 14.877\nbillion dlrs on April 8 compared with 16.378 billion dlrs on\nApril 7.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:04:16.14",
"places": [
"usa"
],
"id": "15935"
},
{
"title": "DIANA <DNA> NOMINATES FREEDOM <FRFE> DIRECTORS",
"body": "Diana Corp said it organized the\nStockholders Protective Committee of Freedom Federal Savings\nBank to nominate two candidates for election to the Freedom\nboard at the April 20 annual meeting.\n It said the committee's nominees, Richard Fisher, Diana\nchairman and Harold Sampson, a Diana director, will oppose\nnominees of the present board of directors.\n Diana, which is 60 pct owned by Farm House Foods Corp\n<FHFC>, owns 105,554 shares of Freedom Federal common stock.\n Diana noted that Freedom Federal's board recently declared\na distribution of Preferred Stock Purchase Rights \"with the aid\nof which such directors might disapprove, and perhaps prevent,\npossible acquisition offers or substantial stock accumulations,\nregardless of how beneficial they might be to the\nstockholders.\"\n The company said \"we want to increase the responsiveness of\nthe (Freedom Federal) board to stockholder concerns.\"\n Reuter\n\u0003",
"date": " 9-APR-1987 16:04:37.51",
"places": [
"usa"
],
"id": "15936"
},
{
"title": "WESTINGHOUSE ELECTRIC CORP 1ST QTR SHR 1.05 DLRS VS 88 CTS\n",
"date": " 9-APR-1987 16:04:55.59",
"topics": [
"earn"
],
"id": "15937"
},
{
"title": "U.S. HOUSE VOTES 1988 BUDGET CALLING FOR CUTS AND TAXES TO REDUCE DEFICIT\n",
"date": " 9-APR-1987 16:05:55.95",
"places": [
"usa"
],
"id": "15938"
},
{
"title": "U.S. OIL DEPENDENCY SEEN RISING TO RECORD LEVEL",
"body": "The United States' dependency on\nforeign oil sources may reach record levels by the mid-1990s,\naccording to John H. Lichtblau, president of Petroleum Industry\nResearch Associates.\n Lichtblau, speaking at an alternative energy conference\nhere, said the U.S. may depend on foreign suppliers for as much\nas 52 pct of its oil by 1995, surpasssing the previous high\nlevel of 47 pct in 1977.\n \"The long term growth in dependency on foreign oil is\ninevitable,\" Lichtblau said. As much as 30 pct of U.S. oil\nimports in 1995 could come from OPEC nations, he said.\n Lichtblau said the U.S. depended on foreign suppliers for\n33 pct of its oil in 1986 and predicted that would increase to\n40 pct by 1990.\n \"However, the rate of this growth can be affected\npositively or negatively through government action or\ninaction,\" Lichtblau said.\n He said that one of the government's negative actions is\nthe maintenance of the windfall profits tax which acts as a\ndisincentive to developing existing fields and reduces cash\nflow for oil exploration.\n Lichtblau called for the adoption of an international floor\nprice for crude oil to help stabilize world oil prices.\n \"An international floor price adopted by all or most\nindustrial countries would clearly be a much more effective\nmeasure and would be much less distortive for the U.S. than if\nwe imposed it alone,\" Lichtblau said.\n Development of alternate energy sources such as synthetic\nfuels as well as increased development in Alaska could lessen\nU.S. dependency on foreign oil, Lichtblau said.\n A potential for alternative supplies could limit the\nwillingness of OPEC nations to raise oil prices, he said.\n Lichtblau also called for the federal government to offer\ntax abatements for oil drilling, to fill the Strategic\nPetroleum Reserve at a faster rate and to develop pilot plans\nfor alternative energy.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:06:24.14",
"topics": [
"crude"
],
"organisations": [
"opec"
],
"places": [
"usa"
],
"id": "15939"
},
{
"title": "U.S. ONE-YEAR BILL YIELDS RATE OF 5.92 PCT",
"body": "The U.S. Treasury said its auction of\n9.76 billion dlrs of 52-week bills produced an average rate of\n5.92 pct.\n The rate was up from 5.68 pct at the last auction of\none-year bills on March 12.\n At today's sale, the bond-equivalent yield was 6.30 pct. \nAccepted bids ranged from 5.88 pct to 5.93 pct and 80 pct of\nbids at the high, or stopout, rate were taken.\n The Treasury received 26.7 billion dlrs of bids, including\n554 mln dlrs in non-competitive bids from the public.\n The average price of the one-year bills was 94.014 and the\nrange was 94.055 to 94.004.\n The average rate of 5.92 pct was the highest since 5.98 pct\non July 8, 1986.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:09:17.54",
"places": [
"usa"
],
"id": "15940"
},
{
"title": "U.S. HOUSE PASSES TRILLION DLR SPENDING BUDGET",
"body": "The House approved by a 230-112 vote\nand sent to the Senate a trillion dlr spending budget that\ncalls for domestic and defence cuts and higher taxes to reduce\nthe 1988 deficit.\n The measure proposes cutting the deficit from 171 billion\ndlrs to 133 billion dlrs using the non partisan Congressional\nBudget Office calculations, or to 108 billion dlrs using more\noptimistic assumptions of President Reagan--whose own budget\nwas defeated earlier.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:09:54.07",
"places": [
"usa"
],
"id": "15941"
},
{
"title": "GRAIN SHIPS LOADING AT PORTLAND",
"body": "There were six grain ships loading and\neight ships were waiting to load at Portland, according to the\nPortland Merchants Exchange.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:09:58.64",
"topics": [
"grain",
"ship"
],
"places": [
"usa"
],
"id": "15942"
},
{
"title": "RAYTHEON <RTN> GETS 215.3 MLN DLR CONTRACT",
"body": "Raytheon Co has been awarded a 215.3\nmln dlr contract for production of 1,927 guidance and control\nsections and spare components for Sparrow air-to-air missiles,\nthe Navy said.\n REUTER\n\u0003",
"date": " 9-APR-1987 16:10:24.14",
"places": [
"usa"
],
"id": "15943"
},
{
"title": "WESTINGHOUSE ELECTRIC CORP <WX> 1ST QTR NET",
"body": "Shr primary 1.05 dlrs vs 88 cts\n Shr dilulted 1.05 dlrs vs 86 cts\n Net 151.6 mln vs 135.2 mln\n Revs 2.32 billion vs 2.55 billion\n Avg shrs 144.6 mln vs 154.5 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 16:11:04.21",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15944"
},
{
"title": "OSHKOSH TRUCK <OTRKB> GETS CONTRACT",
"body": "Oshkosh Truck Corp has been awarded a\n189.3 mln dlr contract for 1,403 HEMTT 977 series trucks, the\nArmy said.\n reuter\n\u0003",
"date": " 9-APR-1987 16:11:48.32",
"places": [
"usa"
],
"id": "15945"
},
{
"title": "AMOCO <AN> OPTIMISTIC WITH STABLE OIL PRICES",
"body": "Amoco Corp said it sees a more favorble\noutlook because of actions taken last year and a recent\nstrengthening of oil prices.\n \"It appears now that the worst is behind us,\" said Amoco\nexecutive vice president Richard Leet in remarks prepared for\ndelivery to security analysts in San Francisco. \"We face the\nfuture with more optimism than we did a year ago,\" he said.\n In response to last year's steep drop in oil prices, Amoco\nreduced and redirected exploration and production spending\nplans, expanded its cost cutting efforts and accelerated staff\nreductions, he noted.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:14:17.03",
"places": [
"usa"
],
"id": "15946"
},
{
"title": "GEN DYNAMICS <GD> GETS 182.5 MLN DLR CONTRACT",
"body": "General Dynamics Corp has received a\n182.5 mln dlr contract for production of 1,391 guidance and\ncontrol sections and spare sections for Sparrow air-to-air\nmissiles, the Navy said.\n reuter\n\u0003",
"date": " 9-APR-1987 16:15:05.67",
"places": [
"usa"
],
"id": "15947"
},
{
"title": "NEW YORK BANK DISCOUNT WINDOW BORROWINGS 169 MLN DLRS IN APRIL 8 WEEK\n",
"date": " 9-APR-1987 16:15:10.29",
"places": [
"usa"
],
"id": "15948"
},
{
"title": "CCC GUARANTEES TO IRAQ SWITCHED --USDA",
"body": "The Commodity Credit Corporation\n(CCC) has transferred 12.0 mln dlrs in credit guarantees\npreviously earmarked for sales of U.S. hatching eggs and 7.0\nmln dlrs in guarantees for breeder livestock to increase\ncoverage on sales of U.S. protein concentrates to Iraq, the\nU.S. Agriculture Department said.\n The action was taken at the request of Iraq's State Trade\nOrganization for Grains and Foodstuffs and reduces the line for\nhatching eggs to zero and the line for breeder livestock from\n15.0 mln dlrs to 8.0 mln dlrs, the department said.\n The guarantee line for sales of protein concentrates has\nbeen increased from 25.0 mln dlrs to 44.0 mln dlrs, it said.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:15:55.90",
"topics": [
"livestock"
],
"places": [
"usa",
"iraq"
],
"id": "15949"
},
{
"title": "NEW YORK BUSINESS LOANS FALL 1.31 BILLION DLRS",
"body": "Commercial and industrial loans on the\nbooks of the 10 major New York banks, excluding acceptances,\nfell 1.31 billion dlrs to 62.70 billion in the week ended April\n1, the Federal Reserve Bank of New York said.\n Including acceptances, loans dropped 1.34 billion dlrs to\n63.23 billion.\n Commercial paper outstanding nationally fell 4.80 billion\ndlrs to 334.28 billion.\n National business loan data are scheduled to be released on\nFriday.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:16:13.11",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15950"
},
{
"title": "N.Y. BANK DISCOUNT BORROWINGS 169 MLN DLRS",
"body": "The eight major New York City banks had\ndaily average borrowings of 169 mln dlrs from the Federal\nReserve in the week ended April 8, a Fed spokesman said.\n A Fed spokesman said that all of the borrowings were made\nyesterday by fewer than half the banks.\n It was the second half of the two-week bank statement\nperiod that ended on Wednesday. Average borrowings by these\nbanks were 142 mln dlrs in the first week of the period.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:16:27.63",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15951"
},
{
"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 8 as follows (Dlrs/Bu-Sorghum Cwt) -\n Natl Loan Release Call\n Avge Rate-X Level Price Price\n Wheat 2.62 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 1.55 1.56 IV 2.55 2.55\n V 2.65 -- \n Sorghum 2.54 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": " 9-APR-1987 16:16:57.22",
"topics": [
"grain",
"wheat",
"corn",
"barley",
"oat",
"sorghum"
],
"places": [
"usa"
],
"id": "15952"
},
{
"title": "U.S. WEEKLY SOYBEAN CRUSH 19,416,000 BUSHELS",
"body": "Reporting members of the National\nSoybean Processors Association (NSPA) crushed 19,416,000\nbushels of soybeans in the week ended April 8 compared with\n20,115,000 bushels in the previous week and 17,160,000 in the\nyear-ago week, the association said.\n It said total crushing capacity for members was 25,873,904\nbushels vs 25,873,904 last week and 25,459,238 bushels last\nyear.\n NSPA also said U.S. soybean meal exports in the week were\n70,351 tonnes vs 135,452 tonnes a week ago and compared with\n76,065 tonnes in the year-ago week.\n NSPA said the figures include only NSPA member firms.\n NSPA gave the following breakdown of the soybean crush for\nthe week, with comparisons, in 1,000 bu:\n 4/08/87 4/01/87 YEAR-AGO\n Illinois 2,576 3,479 X\n Ind, Ky, Ohio 3,586 3,376 6,053-Y\n South East 3,871 3,791 3,058\n South Central 1,631 1,934 1,563\n South West 2,426 2,334 2,183\n Iowa 3,450 3,550 2,815\n Minn, N.D., S.D. 1,875 1,651 1,488\n Total U.S. 19,416 20,115 17,160\n X-Ill not reported exclusive of Ind, Ky and Ohio in year-ago\nperiod. Y-Includes Ill.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:17:59.74",
"topics": [
"oilseed",
"soybean",
"soy-meal",
"meal-feed"
],
"places": [
"usa"
],
"id": "15953"
},
{
"title": "UNITED TECHNOLOGIES <UTX> GETS NAVY CONTRACT",
"body": "United Technologies Corp has received\na 130.7 mln dlr contract to exercise an option for seven SH-60F\nCV anti-submarine helicopters and associated maintenance\ntrainers, the Navy said.\n reuter\n\u0003",
"date": " 9-APR-1987 16:18:11.61",
"places": [
"usa"
],
"id": "15954"
},
{
"title": "KIDDER, PEABODY DEFENDS EMPLOYEE DRUG TESTING",
"body": "Kidder, Peabody and Co vice president\nEdward Weihenmayer said his company was giving drug tests to\nall employees to make sure its funds and assets were being\nhandled properly.\n \"Drugs are easily available in the Wall Street area,\"\nWeihenmayer told the Senate Judiciary Committee. \"We move\nbillions of dollars around in tens of thousands of transactions\ndaily and have a legitimate interest in the safety and security\nof those assets.\"\n He said customers had a right to expect that their funds\nwere being handled by sober and drug-free professionals.\n Weihenmayer said almost all Wall Street firms were testing\nnew employees and many were testing all workers.\n He said Kidder, Peabody would try to help anyone found to\nbe using drugs, but those who failed a second test would almost\ncertainly be fired.\n \"Our objective is to strive for a drug-free enviroment,\" he\nsaid.\n Committee chairman Joseph Biden said drug tests posed a\ndifficult problem in balancing the rights of workers with the\nneed for companies to eliminate drugs from the work-place.\n \"There is no easy answer,\" the Delaware Democrat said.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:18:32.76",
"places": [
"usa"
],
"id": "15955"
},
{
"title": "FUNDAMENTAL BROKERS BUYS PART OF MKI BROKERS",
"body": "Fundamental Brokers Institutional\nAssociates, a leading inter-dealer broker in U.S. government\nsecurities, said it has agreed to acquire certain assets of MKI\nGovernment Brokers Inc for undisclosed terms.\n Acquisition documents have been signed and are being held\nin escrow pending the receipt of certain consents, it said.\n In conjunction with the sale of assets, MKI has ceased\nbrokering treasury bills, notes and bonds, Fundamental said.\n Industry sources told Reuters yesterday that Fundamental\nwas close to acquiring the government securities brokerage\ndivision of MKI, a major broker of corporate bonds.\n Fundamental said it intends to use the facilities formerly\nused by MKI to provide a new block brokering service in the\nmost active Treasury issues.\n By separating the execution of wholesale trades from the\nheavy volume of smaller lots, large-scale transactions will be\nfacilitated, the company said.\n \"The new system is expected to substantially enhance the\nliquidity and effiency of markets,\" Fundamental said.\n The wholesale brokering service will begin on or around\nApril 20.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:19:17.32",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15956"
},
{
"title": "ARGENTINA WARNS IT MAY CUT OFF TALKS WITH BANKS",
"body": "Argentina's Economy Minister Juan\nSourrouille said the \"narrow interest\" of creditor banks was\nholding up an accord to stretch out debt repayments and warned\nArgentina may break off negotiations.\n \"It is inadmissible that the private narrow interest of some\nbanks threatens to turn into an insurmountable obstacle for a\npolicy we have agreed with the international community,\"\nSourrouille said.\n Speaking to the International Monetary Fund's Interim\nCommittee meeting, Sourrouille said Argentina had given ample\nproof that it is negotiating seriously with the banks.\n \"Today, with that same responsibility, we are clearly\nstating that it will be imposible for us to continue\nnegotiating on that basis.\"\n A monetary source who heard Sourrouille's speech from a\nvantage point close to U.S. Treasury Secretary James Baker,\nsaid Baker turned to one of his advisors to ask for the names\nof banks that Sourrouille said were stalling on an agreement.\n \"Let's give them a call right away,\" the source quoted Baker\nas saying.\n Sourrouille reminded the Interim Committee that the IMF\nlast February approved a 1.3-billion-dlr stand-by loan and a\nlonger-term credit, known as an extended Fund Facility for\nanother 500,000 dlrs.\n But he said that despite Argentina's \"disciplined effort\" to\nachieve inflation-free economic growth, it was unable to obtain\nIMF payouts due to the link between that arrangement and\nsettlement of a separate agreement with creditor banks.\n Sourrouille stated flatly that the banks were flouting a\nlong-established practice under which debtor countries which\nreached agreements on economic reforms with the Fund were a\ngood credit risk for the banks.\n \"In other words, facts are demonstrating that the current\ndebt strategy is showing that an IMF agreement is only a weak\nsignal for the beginning of another discussion (with the\nbanks),\" he stated.\n He added the fact that the strategy is not working was also\ndemonstrated when governments that approved Argentina's program\nhad to join in a bridge loan for his country.\n Sourrouille stated that Argentina has met IMF requirements\nregarding its balance of payments and its monetary and fiscal\npolicies.\n Despite this Sourrouille said, \"What we are facing is the\ninexplicable demands (from the banks) that are blocking\nnegotations.\"\n Argentina, with a foreign debt of 50 billion dlrs, has been\nseeking to reschdule 24 billion dlrs in \"old debt\" and another\n4.2 billion dlrs that had been refinanced in 1985.\n The minister also said there were two issues separating\nArgentina from an accord with creditor banks, one was a minimum\ndifference on the interest rate margin above international\nlevels.\n The other condition, of more concern, were suggestions by\nthe banks that would upset the country's financial system.\n Monetary sources said creditor banks have been offering\nArgentina the London Interbank rate (Libor) plus 7/8 pct, which\nthey gave Venezuela in a recent refinancing agreement.\n The sources said Argentina is committed to winning the\nlower spread Mexico gained last year of 13/16 pct above Libor.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:20:04.65",
"organisations": [
"imf"
],
"places": [
"argentina",
"usa"
],
"id": "15957"
},
{
"title": "GE <GE> GETS 30.0 MLN DLR F-111 RADAR CONTRACT",
"body": "General Electric Corp has received a\n30.0 mln dlr contract for lot three of attack radar sets for\nthe F/FB-111 avionics modernization program, the Air Force said.\n reuter\n\u0003",
"date": " 9-APR-1987 16:20:13.51",
"places": [
"usa"
],
"id": "15958"
},
{
"title": "NEWHALL INVESTMENT <NIP> SETS SPECIAL PAYOUT",
"body": "Newhall Investment Properties\nsaid it declared a special distribution of 50 cts per share,\npayable June one, to unitholders of record April 24.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:20:40.00",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15959"
},
{
"title": "FCOJ MOVEMENT 4,496,533 GALLONS LAST WEEK",
"body": "Florida Citrus Processors\nAssociation said frozen concentrated orange juice movement into\ntrade channels in the week ended April 4 totalled 4,496,533\ngallons versus 5,058,976 gallons in the week ended March 28 and\n4,141,578 gallons in the corresponding year-ago period.\n There were 499,967 gallons of foreign imports last week\nversus 341,280 gallons the week before. Domestic imports last\nweek were 24,774. Retail movement was 1,741,139 versus\n1,464,490 a year ago. Bulk movement was 2,328,368 against\n2,139,383 a year earlier.\n Current season cumulative movement was 79,516,753 gallons\nversus 76,919,119 last year. Cumulative net pack for the season\nwas 86,254,846 versus 82,355,864 a year ago. Inventory was\n75,212,711 versus 75,985,696 a year ago.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:21:22.78",
"topics": [
"orange"
],
"places": [
"usa"
],
"id": "15960"
},
{
"title": "NATIONAL HERITAGE <NHER> BUYS MANAGEMENT FIRM",
"body": "National Heritage Inc said it acquired\nthe assets of Chartham Management Corp of Salem, Ore.\n Terms were not disclosed.\n The assets acquired will be used to form a new divisional\noffice serving the northwest, the nursing home operator said.\n The newly acquired Salem operation has management\nresponsibility for about 2,500 beds in 28 nursing homes in\nseven states.\n Southmark Corp <SM>, which owns 80 pct of National\nHeritage, recently agreed to acquire the 28 facilities.\nNational is the manager of nursing home properties owned by\nSouthmark.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:21:51.32",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15961"
},
{
"title": "MEDIVIX <MEDX> UNIT IN PACT FOR MAIL ORDERS",
"body": "Medivix Inc said its American\nSubscription Plan Inc subsidiary signed a contract with \n<Midwest Benefits Corp> to provide mail order prescription\nservices for employees of 300 companies.\n Midwest acts as a third party administrator for the\ncompanies, Medivix said.\n The company said it anticipates the new pact will generate\nsubstantial revenues during the next 12 months.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:22:21.61",
"places": [
"usa"
],
"id": "15962"
},
{
"title": "OHIO MATTRESS <OMT> BUYS SEALY OF MICHIGAN",
"body": "Ohio Mattress Co said that its\nOhio-Sealy Mattress Manufacturing Co unit completed its\npreviously announced acquisition of Sealy Mattress Co of\nMichigan Inc.\n In addition, the company said Sealy Inc, of which its owns\n82 pct, redeemed the outstanding Sealy stock held by Michigan\nSealy, thus increasing the company's stake in Sealy to 93 pct.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:22:41.62",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15963"
},
{
"title": "LA LAND <LLX>,DU PONT <DD>GET EXPLORATION TRACTS",
"body": "Louisiana Land and Exploration Co\nsaid it, Du Pont Co's Conoco Inc subsidiary and <Oranje-Nassau\nEnergie B.V.> have been offered four exploration blocks\noffshore The Netherlands.\n Louisiana Land said Blocks Q4a, E12c and E15b were offered\nto the group in which Conoco has a 67.5 pct interest, Louisiana\nLand 20 pct and Orange-Nassau 12.5 pct, while this group along\nwith a consortium headed by Pennzoil Co <PZL> were offered\nBlock Q5c. The offers were the result of applications submitted\nto the Ministry of Economic Affairs for the Netherlands Sixth\nOffshore Licensing Round.\n Louisiana Land said the Conoco group intends to provide a\nformal acceptance of the blocks with plans to start exploration\nthis year.\n The company also said the two Q blocks immediately offset\nother offshore blocks on which hydrocarbons have been found in\ncommercial quantities.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:23:06.48",
"topics": [
"crude"
],
"places": [
"usa",
"netherlands"
],
"id": "15964"
},
{
"title": "AFG INDUSTRIES <AFG> DEBT LOWERED BY S/P",
"body": "Standard and Poor's Corp said it\nlowered the ratings on AFG Industries Inc's subordinated\ndebentures to B-plus from BB-plus.\n The issue is removed from creditwatch where it was placed\non March 18. About 185 mln dlrs of debt is affected.\n S/P noted that while AFG's and Wagner and Brown's 2.2\nbillion dlr offer to acquire Gencorp Inc has been withdrawn,\nAFG's participation in the offer, as well as its previous 1.4\nmln dlr offer for Lear Siegler Inc, shows a greater appetite\nfor substantial acquisitions than was previously anticipated.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:23:15.88",
"places": [
"usa"
],
"id": "15965"
},
{
"title": "MOODY'S UPGRADES SOUTHWEST AIRLINES <LUV> UNIT",
"body": "Moody's Investors Service said it has\nraised its ratings on about 50 mln dlrs of outstanding\nsecurities of Southwest Airlines Co unit, TransStar Airlines\nCorp, formerly named Musa Air Corp.\n The agency has up the company's senior secured debt to Ba2\nfrom B2.\n The action reflects the improvement in the company's\nfinancial position since its acquisition by Southwest.\n Southwest operates TransStar as a separate unit and has not\nlegally assumed its debt.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:23:33.04",
"places": [
"usa"
],
"id": "15966"
},
{
"title": "PATIENT <PTI> CONSIDERING DEBT RESTRUCTURING",
"body": "Patient Technology Inc said it\nretained an investment banking firm to consider alternatives in\nrestructuring its long-term debt, including a possible exchange\noffer for 20 mln dlrs of outstanding convertible debentures.\n On April one, it began consolidating sales, marketing and\nmanufacturing operations. The consolidation is expected to be\ncomplete by June one and the company said it is now focusing on\nrestructuring its balance sheet. \n The company said the first quarter will be adversely\naffected by the consolidation effort.\n For the year ago first quarter, the company reported a\nprofit of 100,000 dlrs on 7.3 mln dlrs.\n The company further said that the second quarter will be \ntransitional period and that earnings growth will resume in the\nsecond half of 1987.\n For the year ended December 31, 1986, Patient reported a\nnet loss of 1.4 mln dlrs on sales of 29.8 mln dlrs, due to\nwrite-offs from discontinued operations and a temporary backlog\nof orders.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:23:53.27",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15967"
},
{
"title": "NAPCO <NPCO> MANAGEMENT CANNOT RAISE FUNDING",
"body": "Napco International Inc said it\nhas suspended its plan to sell its international business to a\ngroup of that business' top managers because the group has\nfailed to obtain satisfactory financing.\n The company also said it still intends to pursue a new\ncorporate direction, and is exploring acquisition alternatives.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:24:21.20",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15968"
},
{
"title": "BANKS OF MID-AMERICA INC <BOMA> 1ST QTR NET",
"body": "Shr loss 18 cts vs loss 89 cts\n Net profit 161,000 vs loss 5,938,000\n Assets 3.43 billion vs 3.46 billion\n Deposits 2.68 billion vs 2.67 billion\n Loans 1.45 billion vs 1.64 billion\n Note: Shr data after payment of preferred dividends.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:24:27.72",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15969"
},
{
"title": "MCDONNELL DOUGLAS <MD> BUYS COMPUTER FIRM",
"body": "McDonnell Douglas Corp said it\nacquired Frampton Computer Services Ltd, a British software\ncompany that is also known as Isis.\n Terms of the acquisition were not disclosed.\n Based in Bristol, England, Isis employs 65 workers and has\nannual revenues of about five mln dlrs, McDonnell Douglas said.\n The company added that Isis will operate as part of\nMcDonnell Douglas Information Systems International.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:25:14.41",
"topics": [
"acq"
],
"places": [
"usa",
"uk"
],
"id": "15970"
},
{
"title": "NATIONAL SEMI <NSM>, CANON IN DEVELOPMENT PACT",
"body": "National Semiconductor Corp\nsaid it and Canon Inc <CANNY> plan to jointly develop\nintegrated circuits and software products which will be\nmanufactured by Canon.\n The first product will be a laser-beam printer for\nNational's Series 32000 family of 32-bit microprocessor\nproducts, the company said.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:27:52.47",
"places": [
"usa"
],
"id": "15971"
},
{
"title": "LIBERTY FINANCIAL GROUP <LFG> PRESIDENT RESIGNS",
"body": "Liberty Financial Group Charles D.\nCheleden, chairman and chief executive officer, said Harold\nKline has resigned his position as president of the group and\nits subsidiary, Liberty Savings Bank, effective May One.\n Cheleden said he will assume the offices previously held by\nKline, who will continue to serve on the board of the Liberty\nFinancal Group and Liberty Savings Bank.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:28:13.98",
"places": [
"usa"
],
"id": "15972"
},
{
"title": "WORLD MARKET PRICE FOR UPLAND COTTON - USDA",
"body": "The U.S. Agriculture Department\nannounced the prevailing world market price, adjusted to U.S.\nquality and location, for Strict Low Middling, 1-1/16 inch\nupland cotton at 50.57 cts per lb, to be in effect through\nmidnight April 16.\n The adjusted world price is at average U.S. producing\nlocations (near Lubbock, Texas) and will be further adjusted\nfor other qualities and locations. The price will be used in\ndetermining First Handler Cotton Certificate payment rates.\n The department said since the adjusted world price is above\nthe loan repayment rate of 44 cts per lb for the base quality,\nno First Handler Cotton Certificates will be issued during the\nperiod.\n Based on data for the week ended April 9, the adjusted\nworld price for upland cotton is determined as follows, in cts\nper lb --\n Northern European Price -- 62.88\n Adjustments --\n Average U.S. Spot Mkt Location -- 9.98\n SLM 1-1/16 Inch Cotton -- 1.80\n Average U.S. Location -- 0.53\n Sum of Adjustments -- 12.32\n Adjusted World Price -- 50.63\n Reuter\n\u0003",
"date": " 9-APR-1987 16:28:44.38",
"topics": [
"cotton"
],
"places": [
"usa"
],
"id": "15973"
},
{
"title": "ROCKY MOUNT <RMUC> HOLDERS SEEK BOARD CONTROL",
"body": "A shareholder group controlling 48.3\npct of the stock of Rocky Mount Undergarment Co Inc told the\nSecurities and Exchange Commission it will try to take control\nof the company by taking over its board of directors.\n The group, which includes David Greenberg, Rocky Mount's\nformer president, and several other members of the Greenberg\nfamily, said it had been close to an agreement with the company\non board representation when talks broke down.\n As a result, it will propose its own slate of directors and\nvote for that slate at the company's April 24 annual meeting,\nthe group said.\n David Greenberg had been president and chairman of Rocky\nMount until May 1986 when he resigned at the board's request.\n David's younger brother, Herbert Greenberg, was a vice\npresident until November 1986, when he was fired by the board.\n However, Herbert refused to resign his board seat and\nremains a company director.\n Rocky Mount sued the group in federal court in North\nCarolina earlier this month, charging that its accumulation of\nRocky Mount stock amounted to an illegal tender offer in\nviolation of the federal securities laws.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:29:17.61",
"places": [
"usa"
],
"id": "15974"
},
{
"title": "USDA COMMENTS ON EXPORT SALES REPORT ",
"body": "U.S. corn sales of just over 1.0 mln\ntonnes in the week ended April 2 were eight pct above the prior\nweek, but 25 pct below the four-week average, the U.S.\nAgriculture Department said.\n In comments on its latest Export Sales Report, the\ndepartment said Iraq, Japan and the USSR were the largest\nbuyers.\n Sales for the next marketing year, which begins September\n1, totaled 503,200 tonnes and were mainly to Iraq and Taiwan.\n Wheat sales of 119,300 tonnes for the current season and\nnet reductions of 13,700 tonnes for the 1987/88 season were\nfour-fifths below the combined total for the prior week and the\nfour-week average, it said.\n Sri Lanka was the most active wheat destination with\npurchases of 52,500 tonnes for the current year, it said.\n Other significant purchasers for the current year were\nMexico and Honduras, it said.\n Soybean sales of 240,500 tonnes were one-fifth below the\nprior week and nearly one-third below the four-week average.\n Japan, Mexico, South Korea, Italy and Israel were the major\npurchasers, the department said.\n Net sales of 117,700 tonnes of soybean cake and meal fell\n31 pct from the previous week and 38 pct below the four-week\naverage. Major increases for West Germany, Venezuela, the\nNetherlands and Saudi Arabia were partially offset by\nreductions for unknown destinations, USDA said.\n Activity in soybean oil resulted in decreases of 2,400\ntonnes, with sales to unknown destinations down by 2,700\ntonnes, while sales to Canada increased 200 tonnes, the\nDepartment said.\n Combined sales of 71,300 running bales of cotton -- 60,200\nbales for the current season and 11,100 bales for 1987/88\nseason -- were four-fifths higher than the prior week's level\nbut nine pct below the four-week average.\n Mexico was the dominant buyer for the current year followed\nby Zaire, Italy, and Spain, the department said.\nThe primary buyers for the 1987/88 season were South Korea,\nSpain, Japan and Taiwan, the department said.\n Sorghum sales of 143,300 tonnes were 25 pct less than the\nprior week, with Japan and Venezuela the main buyers. \n Reuter\n\u0003",
"date": " 9-APR-1987 16:29:35.42",
"topics": [
"grain",
"oilseed",
"meal-feed",
"veg-oil"
],
"places": [
"usa"
],
"id": "15975"
},
{
"title": "U.S. M-1 MONEY SUPPLY FALLS TWO BILLION DLRS IN MARCH 30 WEEK, FED SAYS\n",
"date": " 9-APR-1987 16:30:23.95",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15976"
},
{
"title": "FED SAYS U.S. DISCOUNT WINDOW BORROWINGS 361 MLN DLRS IN APRIL 8 WEEK\n",
"date": " 9-APR-1987 16:30:31.35",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15977"
},
{
"title": "U.S. BANK NET FREE RESERVES 447 MLN DLRS IN TWO WEEKS TO APRIL 8\n",
"date": " 9-APR-1987 16:30:37.23",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15978"
},
{
"title": "WESTINGHOUSE ELECTRIC <WX> OPTIMISTIC FOR YEAR",
"body": "Westinghouse Electric Corp chairman\nDouglas Danforth said he was encouraged by first quarter\nresults for fiscal 1987, and said the company was positioned to\ncapitalize on the economy's modest growth for the rest of the\nyear.\n \"I am encouraged by the continuing improvement in\nearnings,\" Danworth said. \"The first quarter met our\nexpectations.\"\n Westinghouse recorded net income for the first quarter of\n151.6 mln dlrs, or 1.05 dlrs per share, on revenues of 2.32\nbillion dlrs.\n Danworth attributed the results to an increase in the\noperating profit in the energy and advanced technology,\nindustries and commerical segments.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:31:06.17",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15979"
},
{
"title": "BSD BANCORP <BSD> 1ST QTR NET",
"body": "Shr seven cts vs five cts\n Net 240,000 vs 136,000\n Loans 264.5 mln vs 251.7 mln\n Deposits 319.7 mln vs 306.8 mln\n Assets 348.6 mln vs 334.6 mln\n Reuter\n\u0003",
"date": " 9-APR-1987 16:31:36.28",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15980"
},
{
"title": "GATEWAY COMMUNICATIONS INC <GWAY> 1ST QTR NET",
"body": "Shr 14 cts vs six cts\n Net 653,561 vs 251,955\n Revs 4,143,056 vs 2,199,238\n Reuter\n\u0003",
"date": " 9-APR-1987 16:32:35.62",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15981"
},
{
"title": "AMR (AMR) TO START INFORMATION CAMPAIGN IN DISPUTE",
"body": "AMR Corp's American Airlines will start\nits own information campaign in its dispute with the\nAssociation of Professional Flight Attendants.\n The company, which has been negotiating with its 10,000\nattendants since late last year, will give out information\nbrochures at its terminals, outlining its position, according\nto L.C. Duncan Jr., vice president of corporate communications.\n During a news conference, Duncan said the APFA was\nconducting a \"smear campaign\" by handing out leaflets at the\ncompany's terminals. The union says it was trying to win public\nsupport by presenting its position.\n Last month, American fired 20 flight attendants for\nhanding out the leaflets at Dallas-Fort Worth Airport. The\nunion is fighting the move in court.\n In response to a question, Duncan said the company's\nlatest proposal for a new three-year contract, which was\noffered March 11, does away with a two-tiered system of pay,\nwhereby new employees are paid on a lower scale than those\nhired before 1983.\n However, the union has contended that the company's\nproposal keeps the system in a disguised form.\n A union spoksewoman had no immediate response to\nAmerican's announcement.\n Currently, the airline and the union are in the middle of\na federally-mandated 30-day cooling off period that was\ntriggered after both sides rejected a federal mediator's offer\nof binding arbitration.\n When the period ends on April 25, the union is free to\nstrike and the company is free to unilaterally impose its\nlatest offer under the Federal Railway Labor Act.\n Even though the union has repeatedly said it will not\nstrike, Duncan confirmed today that the company has received\npermission from the Federal Aviation Administration to speed up\nthe hiring of new attendants.\n In response to a question, Duncan denied the company was\nthinking of firing attendants who do not comply after the 25th.\n \"It (the speeded-up hiring) is a precautionary measure,\"\nhe said.\n \n Reuter\n\u0003",
"date": " 9-APR-1987 16:34:01.75",
"places": [
"usa"
],
"id": "15982"
},
{
"title": "BRITISH AIRWAYS <BAB> SUSPENDS PROMOTION",
"body": "British Airways said it suspended sale\nin the U.S. of its \"Europe on Us\" for travel from the U.S. due\nto disapproval by the U.S. Department of Transporation on\ngrounds of reciprocity.\n Under the promotional program, customers would buy a round\ntrip from the U.S. to London and would receive a free round\ntrip ticket from London to one of 45 cities in 16 countries.\n A company spokesman said the Transportation Department's\ncontention was that American carriers could not compete in this\nprogram. British Airways said it is seeking a review of the\ndecision.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:35:23.40",
"places": [
"usa",
"uk"
],
"id": "15983"
},
{
"title": "BAKER COMMUNICATIONS INC <BAKR> YEAR LOSS",
"body": "Shr loss 42 cts vs loss 56 cts\n Net loss 596,354 vs loss 795,009\n Revs 3,818,258 vs 2,070,772\n Reuter\n\u0003",
"date": " 9-APR-1987 16:36:21.34",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15984"
},
{
"title": "EASTOVER CORP <EASTS> 4TH QTR NET",
"body": "Shr 39 cts vs 28 cts\n Net 491,000 vs 356,000\n Revs 890,000 vs 720,000\n Year\n Shr 1.54 dlrs vs 2.49 dlrs\n Net 1,952,00 vs 3,165,000\n Rev 3,463,000 vs 3,005,000\n Note: Net includes state tax credit of 400,000 for 1986 qtr\nand year. Net also includes gains from sale of real estate of\n3,000 vs 83,000 for qtr and 563,000 vs 1,317,000 for year.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:36:38.55",
"topics": [
"earn"
],
"places": [
"usa"
],
"id": "15985"
},
{
"title": "MARCH U.S. SAVINGS BONDS SALES RISE STRONGLY",
"body": "The Treasury said sales of EE U.S.\nsavings bonds were 17 pct higher during March at 703 mln dlrs\nthan in March, 1986.\n It was the highest savings bond sales total for any March\nsince 1978.\n Total holdings of U.S. savings bonds reached 94.76 billion\ndlrs, the highest in the history of the program, the Treasury\nsaid.\n March redemptions fell six pct to 441 mln dlrs last month\nfrom 468 mln dlrs in March, 1986.\n For the first six months of fiscal 1987, savings bonds\nsales have risen 129 pct from the comparable fiscal 1986 period\nto 7.01 billion dlrs from 3.07 billion dlrs, the Treasury said.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:38:02.87",
"places": [
"usa"
],
"id": "15986"
},
{
"title": "U.S. BANK DISCOUNT BORROWINGS 361 MLN DLRS",
"body": "U.S. bank discount window borrowings\nless extended credits averaged 361 mln dlrs a day in the week\nto Wednesday, April 8, the Federal Reserve said.\n Total daily borrowings in the week fell 99 mln dlrs to 591\nmln dlrs, with extended credits down 35 mln dlrs at 230 mln\ndlrs. The week was the second half of the two-week statement\nperiod that ended Wednesday. Net borrowings averaged 425 mln\ndlrs in the first week of the period.\n Commenting on the two-week statement period that ended on\nApril 8, the Fed said banks had average net free reserves of\n447 mln dlrs.\n A Fed spokesman told a press conference that there were no\nlarge one-day net misses in the Fed's estimates of reserves in\nthe week ended Wednesday.\n Of the week's borrowings, money center banks accounted for\n65 pct, and small banks for almost 35 pct. On Wednesday, when\nnet borrowings were 1.36 billion dlrs and Fed funds averaged a\nhigh 6.45 pct, money center banks accounted for more than 90\npct of the borrowing.\n Borrowings in the latest two weeks averaged 393 mln dlrs a\nday, the highest since the statement period ended January 28.\n Float ranged from about 250 mln dlrs on Thursday to between\none and 1.25 billion dlrs on Monday and Tuesday.\n The spokesman said Monday's float included 500 mln dlrs in\nholdover float at one Fed branch due to mechanical problems.\n About 500 mln dlrs of Tuesday's float reflected\nnon-weather-related transportation float in one Eastern Reserve\nbank.\n As-of adjustments ranged from minus 500 mln dlrs on Monday,\nwhen cash letter errors at two eastern reserve banks were\ncorrected, to plus 500 mln dlrs on Thursday, when a correction\nwas made to unposted funds at a single bank.\n In the first half of the statement period ended Wednesday,\nbanks held excess reserves on the first four days of the week\nbut ran a deficit on Wednesday.\n In the second week, they ran a deficit on Thursday, Friday\nand Monday but held excess reserves on the final two days.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:40:35.27",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15987"
},
{
"title": "NORANDA BEGINS MURDOCHVILLE MINE SALVAGE",
"body": "Noranda Inc said it began salvage\noperations at its Murdochville, Quebec mine where a fire last\nweek killed one miner and caused 10 mln dlrs in damage.\n Noranda said the cause and full extent of the damage is\nstill unknown but the fire destroyed 6,000 feet of conveyor\nbelt.\n The company said extreme heat from the fire caused severe\nrock degradation along several ramps and drifts in the mine.\n Production at the mine has been suspended until\ninvestigations are complete. The copper mine and smelter\nproduced 72,000 tons of copper anodes in 1986.\n The smelter continues to operate with available\nconcentrate from stockpiled supplies, Noranda said.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:40:51.27",
"topics": [
"copper"
],
"places": [
"canada"
],
"id": "15988"
},
{
"title": "U.S. M-1 MONEY SUPPLY FALLS TWO BILLION DLRS",
"body": "U.S. M-1 money supply fell two billion\ndlrs to a seasonally adjusted 738.9 billion dlrs in the March\n30 week, the Federal Reserve said.\n The previous week's M-1 level was revised to 740.9 billion\ndlrs from 741.0 billion, while the four-week moving average of\nM-1 rose to 739.8 billion dlrs from 739.7 billion.\n Economists polled by Reuters said that M-1 would be\nanywhere from down two billion dlrs to up 1.8 billion.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:41:08.86",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15989"
},
{
"title": "ASSETS OF MONEY MARKET MUTUAL FUNDS ROSE 1.39 BILLION DLRS IN LATEST WEEK TO 236.77 BILLION\n",
"date": " 9-APR-1987 16:42:57.43",
"id": "15990"
},
{
"title": "FDIC SAYS BANKS IN TEXAS, OKLAHOMA CLOSED",
"body": "The Federal Deposit Insurance Corp\nsaid a bank in Texas and one in Oklahoma were closed and their\ndeposits transferred to other banks for the 54th and 55th bank\nfailures in the nation this year.\n The Southwestern Bank of Houston was closed and its\ndeposits transferred to OMNIBANC, North Belt, also of Houston.\n The failed bank's main office will reopen as a branch of\nOMNIBANC. Southwestern had total assets of 14.8 mln dlrs.\n First National Bank of Braman, Okla., was closed and its\ndesposits assumed by Community Bank of Shidler, Okla.\n First National had total assets of 12.3 mln dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:47:24.68",
"places": [
"usa"
],
"id": "15991"
},
{
"title": "HOLDERS PLAN PRIME MEDICAL <PMSI> PROXY CONTEST",
"body": "A group led by Shamrock Associates\ntold the Securities and Exchange Commission it will mount a\nproxy contest in an effort to elect three class one directors\nto the Prime Medical Services Inc board of directors.\n The Shamrock shareholder group said its members also\npledged not to sell their holdings back to the company \"unless\nwe sell in connection with a transaction that woulde include\nall Prime stockholders.\"\n The group has about 1.5 mln Prime shares or 17.8 pct of the\ntotal outstanding. Shamrock is an investment partnership\ncontrolled by Far Hills, N.J. lawyer Natalie Koether.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:48:38.07",
"places": [
"usa"
],
"id": "15992"
},
{
"title": "BEVIS <BEVI> RECEIVES TAKEOVER INQUIRIES",
"body": "Bevis Industries Inc, which has\nbeen seeking to be acquired, said it recently received\ninquiries concerning the purchase of the company.\n The company did not identify the parties that made the\ninquiries, but it said they had been referred to its investment\nbankers, Tucker, Anthony and R.L. Day Inc, for study.\n On March 18, the company said it engaged Tucker, Anthony to\nseek purchasers of its operating units, Greenville Tube Corp\nand MD Pneumatics Inc.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:49:01.49",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15993"
},
{
"title": "LTV <QLTV> TO MAKE ONE-TIME BENEFIT PAYMENTS",
"body": "LTV Corp said it will seek approval from\nthe U.S. bankruptcy court to make one-time hardship payments to\nretired steelworkers who lost some pension benefits when their\nretirement plans were terminated.\n The payments would range from 100 dlrs to 750 dlrs per\nperson for more than 9,800 steel company salaried and hourly\nretirees, LTV said.\n The company's steel unit retirement plans were terminated\nin January by the federal Pension Benefit Guaranty Corp, which\nsaid the plans were insolvent.\n LTV filed Chapter 11 bankruptcy last July 17.\n Under Chapter 11, a company is protected from creditors\nwhile it works out a plan to pay debts.\n While most regular pension payments were continued after\nLTV Steel Co's pension plans were terminated, some retirees got\na reduction in their supplemental early retirement benefits or\nother payments that were more than maximums guaranteed by the\nfederal agency.\n LTV also began talks with the United Steelworkers union,\nand both sides have made a commitment to reach a new labor\nagreement by May 1, the steel, aerospace and energy concern\nsaid.\n LTV has the right to renegotiate its labor contracts while\noperating in Chapter 11. At issue are pension and health\nbenefits for active and retired employees and other items, such\nas use of manpower and equipment.\n The company plans to present a comprehensive proposal to\nthe U.S. bankruptcy court in May to deal with pensions and\nhealth care benefits for steel and energy retirees and health\ncare benefits for aerospace retirees, it said.\n All LTV retirees are currently receiving health and life\ninsurance payments mandated by federal laws passed in October\nthat have been extended until May 15.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:49:20.30",
"places": [
"usa"
],
"id": "15994"
},
{
"title": "JACOR <JCOR> TO BUY TWO DENVER RADIO STATIONS",
"body": "Jacor Communications Inc said it\nagreed to buy two Denver radio stations from A.H. Belo Corp\n<BLC> for 24 mln dlrs in cash and notes.\n Jacor said the two stations are KOA-AM and KOAQ-FM.\n The acquisitions must be approved by the Federal\nCommunications Commission, Jacor added.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:50:05.23",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15995"
},
{
"title": "ASSETS OF U.S. MONEY FUNDS ROSE IN WEEK",
"body": "Assets of money market mutual funds\nincreased 1.39 billion dlrs in the week ended yesterday to\n236.77 billion dlrs, the Investment Company Institute said.\n Assets of 93 institutional funds were up 481.1 mln dlrs to\n65.65 billion dlrs, 93 broker-dealer funds rose 285.3 mln dlrs\nto 107.31 billion dlrs, and 197 general purpose funds gained\n625.5 mln dlrs to 63.8 billion dlrs.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:51:01.47",
"topics": [
"money-supply"
],
"places": [
"usa"
],
"id": "15996"
},
{
"title": "POLYCAST <PTCC> REDUCES SPARTECH <SPTN> STAKE",
"body": "Polycast Technology Corp told the\nSecurities and Exchange Commission it sold off 119,800 of its\nSpartech Corp common shares, reducing its stake in Spartech to\n30,000 shares or 1.2 pct of the total outstanding.\n Polycast said it made the sales April 6-8 in the\nover-the-counter market.\n It gave no reason for the sales.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:52:05.12",
"topics": [
"acq"
],
"places": [
"usa"
],
"id": "15997"
},
{
"title": "SMITHKLINE <SKB> VACCINE GETS APPROVAL OVERSEAS",
"body": "Smithkline Beckman Corp said its\ngenetically engineered hepatitis B vaccine has received\nregulatory approval for marketing in Switzerland and\nLuxembourg.\n The vaccine, called Engerix-B, has been approved in several\nother countries, including Belgium and Hong Kong.\n Smithkline said it is currently considering marketing\navenues in the United States.\n Merck and Co <MRK> also has a genetically engineered\nvaccine being marketed in several foreign markets, according to\nindustry sources.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:52:22.24",
"places": [
"usa"
],
"id": "15998"
},
{
"title": "GRAIN SHIPMENTS TO THE USSR -- USDA",
"body": "There were 287,700 tonnes of U.S.\ncorn shipped to the Soviet Union in the week ended April 2,\naccording to the U.S. Agriculture Department's latest Export\nSales report.\n That compares with 106,200 tonnes shipped in the prior\nweek.\n There were no wheat or soybean shipments during the week.\n The USSR has purchased 2,825,600 tonnes of U.S. corn, as of\nApril 2, for delivery in the fourth year of the U.S.-USSR grain\nagreement.\n Total shipments in the third year of the U.S.-USSR grains\nagreement, which ended September 30, amounted to 152,600 tonnes\nof wheat, 6,808,100 tonnes of corn and 1,518,700 tonnes of\nsoybeans.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:54:29.31",
"topics": [
"grain",
"corn",
"oilseed",
"soybean"
],
"places": [
"usa",
"ussr"
],
"id": "15999"
},
{
"title": "JIFFY LUBE INTERNATIONAL <JLUB> IN AUSTRALIA",
"body": "Jiffy Lube International Inc said it\nplans to expand into the Australian market, as well as\nneighboring countries, with its chain of automotive fast oil\nchange and maintenance centers.\n Jiffy Lube said it plans to open its first center in\nBrisbane later this year, and have 100 centers open within six\nyears.\n Reuter\n\u0003",
"date": " 9-APR-1987 16:54:48.77",
"places": [
"usa",
"australia"
],
"id": "16000"
}
]