id
stringlengths 10
14
| vw_text
stringlengths 44
4.27k
| raw_text
stringlengths 27
14.1k
|
|---|---|---|
test/19182 | test/19182 |@title texaco:2 canada:2 raise:2 crude:2 oil:2 posting:2 24:2 canadian:2 ct:2 bbl:4 light:2 sweet:2 25:2 60:2 dlrs:2 |@word | TEXACO CANADA RAISES CRUDE OIL POSTINGS 24 CANADIAN
CTS/BBL, LIGHT SWEET NOW 25.60 DLRS/BBL
TEXACO CANADA RAISES CRUDE OIL POSTINGS 24 CANADIAN
CTS/BBL, LIGHT SWEET NOW 25.60 DLRS/BBL
|
test/19191 | test/19191 |@title u:1 k:1 lender:1 offer:1 fix:1 rate:1 mortgage:1 |@word u:6 k:2 lender:4 offer:9 homebuyer:3 fix:12 interest:8 rate:31 mortgage:25 borrower:1 make:3 monthly:1 payment:1 matter:1 happen:1 low:2 level:1 year:8 loan:9 snap:1 eager:1 home:2 buyer:1 try:1 lock:1 cheap:2 money:6 decision:1 industry:1 official:2 say:9 reflect:2 increasingly:1 competitive:1 nature:1 business:4 uncommon:1 mainstay:1 ago:1 early:1 1980s:1 soar:1 mostly:1 saving:1 association:1 earn:2 three:2 pct:5 30:1 hold:1 portfolio:1 pay:1 depositor:1 high:2 15:1 induce:1 retain:1 account:1 result:1 hundred:1 institution:3 collapse:1 force:2 merge:1 survivor:1 decide:1 whose:1 would:2 move:1 line:1 cost:1 fund:1 much:1 example:1 thrift:1 mind:1 spokesman:2 abbey:1 national:2 building:2 society:2 explain:2 time:2 variable:4 rash:1 advertising:1 solicit:1 new:3 help:2 become:1 even:2 choosy:1 concede:1 undercut:1 still:1 sharp:1 cut:1 announce:1 earlier:3 week:1 nation:1 two:1 large:1 westminster:1 bank:5 plc:3 grow:1 competition:1 carry:1 course:1 less:2 profitable:2 midland:1 earmark:1 500:1 mln:2 dlrs:1 willing:1 another:1 way:1 attract:1 people:1 product:1 trustee:1 savings:1 tsb:2 five:2 9:2 100:1 stg:1 set:1 aside:1 exhaust:1 within:2 day:2 accord:2 spokeswoman:1 everybody:1 love:1 10:1 note:1 equivalent:1 25:2 1986:1 volume:1 short:1 appeal:1 opportunity:1 gamble:1 direction:1 fall:2 average:1 return:1 asset:1 rise:3 win:1 benefit:1 household:2 co:2 plan:3 june:1 11:1 election:1 assumption:1 conservative:1 party:1 victory:1 market:3 duncan:1 young:2 managing:1 director:1 company:2 protect:1 chance:1 buy:1 complicated:1 hedge:2 instrument:1 contrary:1 expectation:1 shelve:1 arrange:1 profitably:1 however:1 likely:1 securitise:1 mean:1 bundle:1 different:1 together:1 resemble:1 bond:1 sell:1 investor:1 technical:1 reason:1 securitisation:2 simple:1 efficient:1 rather:1 float:1 popular:1 provide:1 bulk:1 past:1 | U.K. LENDERS OFFER MORE FIXED RATE MORTGAGES
More U.K. Lenders are offering homebuyers
fixed interest rate mortgages under which the borrower makes
the same monthly payment no matter what happens to other
interest rates.
And with mortgage rates now at their lowest levels in
years, the loans have been snapped up by eager home buyers
trying to lock into cheap money.
The decision to offer fixed rate loans, industry officials
said, reflects the increasingly competitive nature of the home
mortgage business.
While fixed rate mortgages are uncommon in the U.K., They
were the mainstay of the business in the U.S. Up until only a
few years ago.
But in the early 1980s interest rates soared. U.S. Lenders,
mostly savings and loan associations, were earning rates as low
as three pct on 30 year fixed rate mortgages they held in their
portfolios but had to pay depositors rates as high as 15 pct to
induce them to retain their accounts.
As a result hundreds of institutions collapsed or were
forced to merge. The survivors decided to offer mortgages whose
rates would move in line with the cost of funds.
'We very much have the example of the U.S. Thrifts in mind,'
said a spokesman for Abbey National Building Society,
explaining why his institution, for the time being, is only
offering variable rate mortgages.
The rash of advertising to solicit new business has helped
homebuyers to become even choosier about loans and lenders
concede they are being forced to undercut each other still
more.
Sharp cuts on variable rate mortgages announced earlier
this week by the nation's two largest building societies and by
National Westminster Bank Plc reflect growing competition for
new business, officials at all three institutions said.
The fixed rate mortgages on offer carry interest rates even
below those on the variable rate loans.
'Of course they are less profitable than other (variable
rate) mortgages,' said a spokesman for Midland Bank Plc, which
earlier this year said it earmarked 500 mln dlrs for fixed rate
new mortgage loans.
But he said the bank is willing to offer less profitable
loans because, 'It was just another way to attract people to our
mortgage product.'
Trustee Savings Bank Plc (TSB) was offering five year fixed
rate mortgages at 9.9 pct earlier this year.
The 100 mln stg that TSB set aside for the loans was
exhausted within just a few days, according to a spokeswoman.
'Everybody loves an under 10 pct mortgage,' she said, noting
that within five days the bank loaned the equivalent of 25 pct
of its 1986 volume.
In short, the appeal of fixed rate mortgages is that they
offer an opportunity to gamble on the direction of interest
rates. If interest rates fall after the mortgage is made the
lender is earning an above average return on assets.
But if interest rates rise it is the homebuyer who has won
the benefit of cheap money.
Household Mortgage Co had planned to offer a 25 year fixed
rate mortgage after the June 11 elections on the assumption
that a Conservative Party victory would help money market rates
fall further, according to Duncan Young, managing director.
Young explained that the company had planned to protect
itself against the chance of rising interest rates by buying a
complicated hedging instrument.
But money market rates have risen contrary to expectations
and the company has shelved its plans for the time being. He
said money market rates were too high to arrange both the
mortgages and hedge profitably.
However, he said that when the Household Mortgage Co does
make fixed rate mortgages it is likely to securitise them. This
means bundling different mortgages together to resemble a bond
and selling them to an investor.
For technical reasons securitisation is simpler and more
efficient with fixed rate rather than with floating rate
mortgages. In the U.S., Where fixed rate mortgages are popular
again, securitisation has provided the bulk of mortgage money
over the past few years.
|
test/19193 | test/19193 |@title texaco:1 txc:1 canada:1 raise:1 crude:1 oil:1 posting:1 |@word texaco:2 inc:1 canada:1 say:2 raise:2 posting:2 edmonton:2 swann:2 hills:2 crude:3 24:1 canadian:2 ct:1 barrel:2 effective:1 june:3 20:1 company:1 new:1 25:1 60:1 dlrs:1 price:3 hike:1 follow:1 round:1 oil:1 increase:1 start:1 late:1 17:1 sun:1 co:1 major:1 supplier:1 18:1 | TEXACO <TXC> CANADA TO RAISE CRUDE OIL POSTINGS
Texaco Inc's Texaco Canada said it
will raise postings for its Edmonton/Swann Hills crude by 24
canadian cts a barrel, effective June 20.
The company said the new posting for Edmonton/Swann Hills
will be 25.60 dlrs a barrel. The price hike follows a round of
crude oil price increases started late June 17 by Sun Co. The
other major canadian crude suppliers raised prices June 18.
|
test/19198 | test/19198 |@title norwegian:1 central:1 bank:1 reserve:1 fall:1 may:1 |@word norway:1 central:3 bank:3 reserve:3 total:2 73:1 71:1 billion:9 crown:4 may:3 76:1 06:2 april:4 95:1 02:1 1986:2 say:1 monthly:1 report:1 foreign:1 exchange:1 70:1 3:3 compare:2 68:1 4:1 88:1 0:1 year:2 ago:2 gold:1 unchanged:2 284:1 8:1 mln:1 also:1 figure:1 special:1 draw:1 right:1 holding:1 16:1 2:1 51:1 | NORWEGIAN CENTRAL BANK RESERVES FALL IN MAY
Norway's central bank reserves totalled
73.71 billion crowns in May against 76.06 billion in April and
95.02 billion in May 1986, the Central Bank said in its monthly
report.
Foreign exchange reserves totalled 70.3 billion crowns,
compared with 68.4 billion in April and 88.0 billion a year
ago. Gold reserves were unchanged from April's 284.8 mln
crowns, and also unchanged from the year-ago figure.
Central Bank special drawing right holdings were 3.16
billion crowns, compared with 3.06 billion in April and 2.51
billion in May 1986.
|
test/19199 | test/19199 |@title high:1 water:1 extend:1 rhine:1 river:1 blockage:1 |@word rise:2 water:6 level:2 rhine:1 cause:1 heavy:1 rain:1 delay:1 operation:2 near:1 karlsruhe:2 raise:1 two:2 sunken:1 boat:1 block:1 river:1 main:1 navigation:1 channel:1 since:1 early:1 last:1 week:1 authority:3 spokesman:3 say:5 float:1 crane:1 unable:2 begin:2 lift:1 sink:1 tug:1 orinoko:1 light:1 reach:1 815:1 centimetre:1 forecast:1 820:1 830:1 cm:1 tomorrow:1 may:1 meanwhile:1 high:1 cologne:3 force:1 vessel:2 travel:1 reduce:1 speed:1 duisburg:1 60:1 kms:1 north:1 move:1 normally:1 | HIGH WATER EXTENDS RHINE RIVER BLOCKAGE
Rising water levels on the Rhine caused by
heavy rain are delaying an operation near Karlsruhe to raise
two sunken boats which have blocked the river's main navigation
channel since early last week, a Karlsruhe water authority
spokesman said.
He said two floating cranes were unable to begin lifting
the sunken tug Orinoko and its lighter because the water level
had reached 815 centimetres and was forecast to rise to 820-830
cm by tomorrow. He was unable to say when the operation might
begin.
Meanwhile, high water at Cologne has forced vessels to
travel at reduced speed, a water authority spokesman in Cologne
said. But a water authority spokesman in Duisburg, 60 kms north
of Cologne, said vessels there were moving normally.
|
test/19201 | test/19201 |@title fed:1 expect:1 arrange:1 system:1 repurchase:1 |@word federal:1 reserve:3 likely:1 add:2 temporary:1 banking:1 system:3 morning:1 execute:1 repurchase:2 agreement:1 economist:2 say:1 fed:3 face:1 need:1 large:1 volume:1 statement:1 period:1 offset:1 drain:1 cause:1 rise:1 treasury:1 balance:1 june:1 15:1 tax:1 date:1 predict:1 weekend:1 see:1 small:1 adding:1 requirement:1 forecast:1 less:1 aggressive:1 combination:1 three:1 six:1 day:1 repos:1 fund:1 trade:1 6:2 3:1 4:1 pct:2 close:1 yesterday:1 81:1 average:1 | FED EXPECTED TO ARRANGE SYSTEM REPURCHASES
The Federal Reserve is likely to add
temporary reserves to the banking system this morning by
executing system repurchase agreements, economists said.
The Fed faces a need to add a large volume of reserves this
statement period to offset a drain caused by rising Treasury
balances at the Fed after the June 15 tax date.
Most economists are predicting over-the-weekend system
repurchases. But some, who see a smaller adding requirement,
are forecasting a less aggressive combination of three- and
six-day repos. Fed funds were trading at 6-3/4 pct, close to
yesterday's 6.81 pct average.
|
test/19202 | test/19202 |@title greyhound:2 line:2 agree:2 acquire:2 remain:2 route:2 trailways:2 corp:2 |@word | GREYHOUND LINES AGREES TO ACQUIRE REMAINING ROUTES OF
TRAILWAYS CORP
GREYHOUND LINES AGREES TO ACQUIRE REMAINING ROUTES OF
TRAILWAYS CORP
|
test/19208 | test/19208 |@title greyhound:1 agree:1 acquire:1 trailways:1 route:1 |@word greyhound:3 line:1 say:4 agree:1 acquire:2 route:2 trailways:1 corp:1 petition:1 interstate:1 commerce:1 commission:1 authority:1 operate:1 trailway:3 450:1 1200:1 bus:1 terminal:1 garage:1 abandon:1 service:1 seven:1 state:2 past:1 year:1 half:1 sevice:1 three:1 company:1 without:1 intervention:1 collaspe:1 imminent:1 fred:1 currey:1 chairman:1 president:1 | GREYHOUND AGREES TO ACQUIRE TRAILWAYS ROUTES
<Greyhound Lines> said it agreed to
acquire the routes of <Trailways Corp>.
Greyhound said it had petitioned the Interstate Commerce
Commission for authority to acquire and operate Trailways'
routes, 450 of its 1200 buses and some of its terminals and
garages.
Trailways has abandoned all service in seven states in the
past year and more than half of its sevice in three other
states, the company said.
'Without intervention, the collaspe of Trailways is
imminent,' said Fred Currey, chairman and president of
Greyhound.
|
test/19213 | test/19213 |@title tunisia:1 buy:1 150:1 000:1 tonne:1 french:1 wheat:1 |@word tunisia:2 buy:1 150:2 000:3 tonne:4 french:2 soft:3 wheat:3 august:1 december:1 shipment:1 76:1 70:1 dlrs:1 per:1 fob:1 coface:1 export:2 credit:1 trade:1 source:1 say:1 second:1 sale:1 1987:1 88:1 season:2 start:1 july:1 1:1 follow:1 brazilian:1 purchase:1 france:1 sell:1 around:1 300:1 1986:1 87:1 | TUNISIA BUYS 150,000 TONNES FRENCH WHEAT
Tunisia has bought 150,000 tonnes of
French soft wheat for August to December shipment at 76.70 dlrs
per tonne fob with COFACE export credit, trade sources said.
This is the second French soft wheat export sale for the
1987/88 season which starts on July 1 and follows a Brazilian
purchase of 150,000 tonnes.
France sold around 300,000 tonnes of soft wheat to Tunisia
during the 1986/87 season.
|
test/19223 | test/19223 |@title u:1 court:1 uphold:1 apex:1 decision:1 favor:1 nymex:1 |@word u:1 court:3 appeal:1 second:1 circuit:1 uphold:1 low:1 decision:1 dismiss:1 suit:1 apex:8 oil:10 co:2 new:1 york:1 mercantile:2 exchange:2 several:2 company:4 however:1 rule:1 could:2 pursue:2 anititrust:1 commodity:1 market:1 manipulation:1 allegation:1 belcher:3 unit:1 coastal:1 corp:1 cgp:1 primarily:1 trading:1 charge:1 include:1 nymex:4 conspire:1 force:1 deliver:2 heating:3 sell:2 knowing:1 make:1 full:1 delivery:1 order:1 four:1 mln:2 barrel:1 via:1 february:1 1982:1 contract:1 eventually:1 fulfil:1 obligation:1 claim:1 damage:2 richard:1 wiener:1 attorney:2 cadwalader:1 wickersham:1 taft:1 say:1 yet:1 decide:1 whether:1 case:1 meanwhile:1 counterclaim:1 pende:1 seek:1 unspecified:1 amount:1 fee:1 15:1 dlrs:1 punitive:1 accord:1 spokeswoman:1 | U.S. COURT UPHOLDS APEX DECISION FAVORING NYMEX
The U.S. Court of Appeals for the
Second Circuit upheld a lower court decision dismissing a suit
by Apex Oil Co against the New York Mercantile Exchange and
several oil companies.
The Court, however, ruled that Apex Oil could pursue
anititrust and commodities market manipulation allegations
against Belcher Oil Co, a unit of Coastal Corp <CGP>.
Apex Oil, primarily a trading company, charged that several
companies, including Belcher, and NYMEX conspired to force it
to deliver heating oil it had sold on the mercantile exchange,
knowing Apex could not make full delivery.
The NYMEX ordered Apex to deliver four mln barrels of
heating oil sold via a February 1982 heating oil contract. Apex
eventually fulfilled this obligation but claimed damages.
Richard Wiener, attorney for Apex at Cadwalader Wickersham
and Taft, said the company has not yet decided whether to
pursue its case against Belcher Oil.
The NYMEX, meanwhile, has a counterclaim pending against
Apex Oil, seeking an unspecified amount of attorney's fees and
15 mln dlrs in punitive damages, according to a NYMEX
spokeswoman.
|
test/19229 | test/19229 |@title fed:4 set:2 six:2 day:2 system:2 repurchase:2 say:2 |@word | FED SETS SIX-DAY SYSTEM REPURCHASES, FED SAYS
FED SETS SIX-DAY SYSTEM REPURCHASES, FED SAYS
|
test/19237 | test/19237 |@title fed:1 set:1 six:1 day:1 system:1 repurchase:1 |@word federal:1 reserve:3 enter:1 government:1 security:1 market:1 arrange:1 six:2 day:2 repurchase:2 agreement:1 system:1 account:1 spokeswoman:1 new:1 york:1 fed:3 say:2 fund:1 trade:1 6:1 3:1 4:1 pct:1 time:1 direct:1 injection:1 temporary:1 dealer:1 economist:1 expect:1 three:1 need:1 add:1 large:1 volume:1 statement:1 period:1 | FED SETS SIX-DAY SYSTEM REPURCHASES
The Federal Reserve entered the
government securities market to arrange six-day repurchase
agreements for system account, a spokeswoman for the New York
Fed said.
Fed funds were trading at 6-3/4 pct at the time of the
direct injection of temporary reserves, dealers said.
Economists had expected three- or six-day repurchases
because the Fed needs to add a large volume of reserves this
statement period.
|
test/19238 | test/19238 |@title rhine:1 block:1 three:1 week:1 salvager:1 |@word dutch:1 salvage:2 firm:1 smit:3 tak:2 say:3 may:1 take:1 three:1 week:1 lift:2 swiss:1 tug:1 orinoko:1 light:1 pavo:1 sink:1 10:1 day:1 ago:1 karlsruhe:1 west:2 germany:1 block:1 rhine:1 river:1 german:1 subsidiary:1 harms:1 bergung:1 gmbh:1 commission:1 local:1 water:1 authority:1 raise:1 vessel:1 fleet:1 position:1 diver:1 make:1 first:1 inspection:1 still:1 prepare:1 final:1 plan:1 work:1 would:1 begin:1 sunday:1 | RHINE BLOCKED FOR THREE MORE WEEKS - SALVAGER
Dutch salvage firm Smit-Tak said it
may take some three weeks to lift the Swiss tug Orinoko and its
lighter Pavo which sank 10 days ago at Karlsruhe in West
Germany, blocking the Rhine river.
Smit-Tak, which with its West German subsidiary Harms
Bergung GmbH was commissioned by the local water authorities to
raise the vessels, said its lifting fleet was in position and
divers had made the first inspection.
Smit is still preparing its final salvage plan and said the
work would begin on Sunday.
|
test/19240 | test/19240 |@title stifel:2 financial:2 say:2 receive:2 unsolicited:2 merger:2 proposal:2 |@word | STIFEL FINANCIAL SAID IT RECEIVED UNSOLICITED MERGER
PROPOSAL
STIFEL FINANCIAL SAID IT RECEIVED UNSOLICITED MERGER
PROPOSAL
|
test/19241 | test/19241 |@title harcourt:1 hbj:1 mum:1 reed:2 l:1 rumor:1 |@word harcourt:10 brace:1 jovanovich:1 inc:3 official:2 available:1 comment:3 market:1 rumor:4 interested:1 acquire:1 reed:3 international:1 plc:1 l:1 first:1 boston:1 financial:1 adviser:2 decline:1 wall:1 street:1 arbitrageur:1 share:4 say:6 make:1 much:1 sense:1 announce:1 recapitalization:5 plan:1 ward:1 takeover:1 attempt:1 british:2 publisher:1 robert:1 maxwell:4 completely:1 inconsistent:1 way:1 drop:1 call:1 seek:2 return:1 come:1 scrutiny:1 u:1 court:3 orlando:1 fla:1 monday:1 company:2 declaratory:1 judgment:1 convertibility:1 debenture:4 due:1 2011:1 light:1 statement:1 week:1 salomon:2 brothers:1 sb:1 mutual:1 corp:2 intervene:1 case:1 claim:1 ownership:1 30:1 mln:3 dlrs:2 face:2 amount:2 addition:1 printing:1 communications:1 head:1 9:1 5:1 filing:1 securities:1 exchange:1 commission:1 today:2 21:1 978:1 decide:1 convert:3 par:1 value:1 one:1 dlr:1 could:1 22:1 0:1 ask:1 rule:1 require:1 issue:1 common:1 holder:1 prior:1 june:1 eight:1 increase:1 london:1 attribute:1 broker:1 interest:1 also:1 may:1 buyer:1 new:1 york:1 basis:1 think:1 | HARCOURT <HBJ> MUM ON REED <REED.L> RUMORS
Harcourt Brace Jovanovich Inc officials
were not available for comment on market rumors that it is
interested in acquiring Reed International plc <REED.L>.
Officials of First Boston Inc, Harcourt's financial
adviser, declined comment.
A Wall Street arbitrageur, who owns Harcourt shares, said
the rumors did not make much sense because Harcourt has
announced a recapitalization plan to ward off a takeover
attempt by British publisher Robert Maxwell.'It's completely
inconsistent with the recapitalization, the only way is if they
drop the recapitalization,' he said.
Calls to Harcourt seeking comment were not returned.
Harcourt's recapitalization will come under scrutiny of a
U.S. Court in Orlando, Fla. Monday. The company has sought a
declaratory judgment on convertibility of debentures due 2011
in light of the recapitalization.
Harcourt said in a statement this week that Salomon
Brothers Inc <SB> and Mutual Shares Corp have intervened in the
case, claiming ownership of more than 30 mln dlrs face amount
of the debenture. In addition, British Printing and
Communications Corp, headed by Maxwell, owns 9.5 mln dlrs face
amount, Harcourt said.
Salomon said in a filing with the Securities and Exchange
Commission today that it has 21,978 of the debentures. If the
court decides they should be converted at par value of one dlr,
they could be converted into 22.0 mln shares.
Harcourt is asking the court to rule the company is not
required to issue common to debenture holders who did not
convert prior to June eight.
An increase in Reed shares in London today was attributed
by brokers to rumors of Harcourt's interest and also to rumors
that Maxwell might be a buyer. But an adviser to Maxwell in New
York said 'there's no basis to think that it's us.'
|
test/19254 | test/19254 |@title new:1 england:1 electric:1 system:1 nes:1 five:1 mth:1 net:1 |@word five:1 mth:2 end:1 may:1 31:1 shr:2 1:5 37:1 dlrs:4 vs:8 38:1 net:2 75:1 2:1 mln:10 73:1 6:3 revs:2 632:1 3:3 629:1 avg:2 shrs:2 54:2 9:1 53:1 4:2 12:1 19:1 13:1 173:1 165:1 43:1 billion:2 47:1 52:1 8:1 | NEW ENGLAND ELECTRIC SYSTEM <NES> FIVE MTHS NET
Five mths end may 31
Shr 1.37 dlrs vs 1.38 dlrs
Net 75.2 mln vs 73.6 mln
Revs 632.3 mln vs 629.6 mln
Avg shrs 54.9 mln vs 53.4 mln
12 mths
Shr 3.19 dlrs vs 3.13 dlrs
Net 173.6 mln vs 165.1 mln
Revs 1.43 billion vs 1.47 billion
Avg shrs 54.4 mln vs 52.8 mln
|
test/19255 | test/19255 |@title minnesota:1 may:1 consider:1 anti:1 takeover:1 amendment:1 |@word minnesota:1 governor:7 rudy:1 perpich:2 consider:2 call:2 special:2 legislative:1 session:2 amendment:3 state:2 anti:1 takeover:3 statute:1 accord:2 office:2 spokesman:2 say:9 nothing:1 decide:1 today:1 evaluate:1 later:1 whether:1 next:2 day:1 possible:1 action:2 trigger:1 proposal:1 dayton:4 hudson:4 corp:1 dh:1 subject:1 rumor:1 company:2 propose:1 several:2 design:1 make:1 attempt:1 difficult:1 suggest:1 pass:1 institute:1 friday:1 spokesperson:3 press:1 report:1 minneapolis:2 newspaper:1 morning:1 quote:3 legislator:1 incline:2 support:2 legislation:1 would:3 help:3 senate:1 majority:1 leader:1 roger:1 moe:1 robert:1 vanasek:1 house:1 speaker:1 designate:1 star:1 tribune:1 take:1 concern:1 seriously:1 go:1 | MINNESOTA MAY CONSIDER ANTI-TAKEOVER AMENDMENT
Minnesota Governor Rudy Perpich is
considering calling a special legislative session to consider
amendments to the state's anti-takeover statute, according to
the governor's office.
A spokesman for the governor said nothing will be decided
today, but said the governor will evaluate later whether to
call a special session in the next few days.
The governor's office said the possible action was triggered
by a proposal by Dayton-Hudson Corp <DH>, which has been the
subject of takeover rumors. A spokesman for the governor said
the company proposed several amendments to Perpich designed to
make any takeover attempt in the state
more difficult.
Dayton-Hudson suggested amendments be passed and instituted
by next Friday, the spokesperson said.
Press reports in Minneapolis newspapers this morning quoted
several legislators as saying they were inclined to support
legislation that would help Dayton-Hudson, according to a
governor's spokesperson.
Senate Majority Leader Roger Moe was quoted as saying he
would be inclined to support any action that would help the
company, the spokesperson said.
Robert Vanasek, the House speaker designate, was quoted in
the Minneapolis Star and Tribune as saying, 'We are taking
their (Dayton-Hudson) concerns very seriously and we are going
to do what we can to help.'
|
test/19256 | test/19256 |@title boeing:1 ba:1 merger:1 wait:1 period:1 expire:1 |@word boeing:2 co:1 say:1 hart:1 scott:1 rodino:1 waiting:1 period:1 require:1 connection:1 pende:1 tender:2 offer:2 argosystems:1 inc:1 argi:1 expire:1 midnight:1 june:2 18:1 begin:1 37:1 dlr:1 per:1 share:1 cash:1 defense:1 electronics:1 firm:1 two:1 | BOEING <BA> MERGER WAITING PERIOD EXPIRES
Boeing Co said the Hart-Scott-Rodino
waiting period required in connection with its pending tender
offer for ArgoSystems Inc <ARGI.O> expired at midnight June 18.
Boeing began its 37 dlr per share cash tender offer for the
defense electronics firm on June two.
|
test/19258 | test/19258 |@title megavest:1 acquire:1 computer:1 trade:1 development:1 |@word megavest:1 industries:1 inc:1 say:3 agree:1 principle:1 acquire:1 unlisted:1 computer:2 trade:2 development:1 corp:1 exchange:1 119:1 mln:3 share:2 common:1 stock:1 company:1 21:1 5:1 outstanding:1 revenue:1 6:1 1:1 dlrs:1 last:1 year:1 | MEGAVEST TO ACQUIRE COMPUTER TRADE DEVELOPMENT
<MegaVest Industries Inc> said it has
agreed in principle to acquire unlisted Computer Trade
Development Corp in exchange for 119 mln shares of its common
stock.
The company said it has about 21.5 mln shares outstanding.
It said Computer Trade had revenues of about 6.1 mln dlrs
last year.
|
test/19262 | test/19262 |@title cold:1 wet:1 weather:1 slow:1 beet:1 growth:1 w:1 europe:1 |@word cold:1 wet:1 weather:6 northern:1 western:1 central:1 part:1 europe:3 continue:2 slow:3 beet:14 growth:8 plant:2 density:1 report:2 good:4 country:1 sugar:2 statistician:1 f:1 licht:3 say:3 temperature:1 low:1 season:1 rain:2 hamper:1 field:3 work:2 occasionally:1 lead:1 water:1 log:1 eastern:2 southeastern:1 warm:5 boost:2 soviet:2 union:3 also:1 allow:1 development:3 sweden:1 delay:3 although:1 population:1 regular:1 cool:3 rainy:1 denmark:1 crop:2 prospect:1 rate:1 slightly:1 normal:1 united:1 kingdom:1 ireland:1 rather:1 heavy:3 rainfall:4 place:1 france:1 belgium:1 netherlands:1 west:1 germany:1 mostly:2 frequent:1 often:2 make:1 impossible:1 austria:1 favourable:1 czechoslovakia:1 poland:1 favouring:1 may:1 cause:1 damage:1 european:1 grow:1 region:1 shower:1 area:2 generally:1 emergence:1 south:1 labour:1 trouble:1 threaten:2 spain:1 dispute:1 factory:1 trade:1 start:1 processing:1 southern:1 mature:1 early:1 year:1 | COLD, WET WEATHER SLOWS BEET GROWTH IN W. EUROPE
Cold and wet weather in northern,
western and central parts of Europe continued to slow beet
growth but plant density is reported to be good in most
countries, sugar statistician F.O. Licht said.
Temperatures were too low for the season and the rain has
hampered field work and occasionally led to water-logged
fields.
But in eastern and southeastern Europe, warmer weather has
boosted sugar beet growth.
Weather in the Soviet Union also allowed good beet
development, Licht said.
In Sweden beet growth has been delayed, although plant
population is reported to be regular and good. Cool and rainy
weather slowed beet growth in Denmark and crop prospects are
rated as slightly below normal.
In the United Kingdom and Ireland, it was rather cool with
heavy rainfall in places which has delayed beet growth.
In France, Belgium, the Netherlands, and West Germany, it
was mostly cool with frequent and often heavy rainfall which
continued to slow down beet growth and often made field work
impossible.
In Austria, it was warm with some rainfall, which was
favourable for beet growth, Licht said.
In Czechoslovakia and Poland, it was mostly warm, favouring
beet development. but some heavy rain may have caused damage.
In the European beet growing regions of the Soviet Union,
it was warm with showers over most areas and weather was
generally good for the emergence and growth of beets.
In south eastern Europe, warm weather with some rainfall
boosted beet development.
Labour trouble threatens the beet crop in Spain. Disputes
between the factories and the trade unions are threatening to
delay the start of processing in the southern areas, where
beets are maturing very early this year.
|
test/19263 | test/19263 |@title first:1 fbt:1 reiterate:1 speculation:1 premature:1 |@word first:3 city:3 bancorp:1 texas:1 inc:1 solicit:1 bidder:2 reiterate:1 premature:1 speculate:1 course:1 action:1 pursue:1 follow:1 story:1 today:1 wall:1 street:1 journal:2 attract:1 least:1 three:1 potential:1 acquirer:1 say:2 article:1 confirm:1 company:1 caution:1 absotluely:1 nothing:1 report:2 beyond:1 statement:1 among:1 robert:2 carney:1 abboud:1 former:1 chicago:1 banker:1 | FIRST <FBT> REITERATES SPECULATION PREMATURE
First City Bancorp of Texas Inc, which
is soliciting bidders, reiterated that it is premature to
speculate on what course of action it will pursue following a
story in today's Wall Street Journal that it has attracted at
least three potential acquirers.
First City said the article was not confirmed by the
company, and it cautioned that there is 'absotluely nothing to
say or report beyond' its statement.
The Journal reported that among the bidders for First city
was Robert Carney and Robert Abboud, a former Chicago banker.
|
test/19267 | test/19267 |@title chancellor:1 corp:1 chcr:1 4th:1 qtr:1 march:1 31:1 loss:1 |@word shr:2 loss:4 20:1 ct:2 vs:6 three:1 net:2 346:1 000:6 dlrs:7 26:1 rev:2 7:1 671:1 4:1 775:1 12:1 mth:1 profit:4 one:1 dlr:1 2:2 19:1 927:1 5:1 613:1 40:1 9:1 mln:2 35:1 8:1 | CHANCELLOR CORP <CHCR.O> 4TH QTR MARCH 31 LOSS
Shr loss 20 cts vs loss three cts
Net loss 346,000 dlrs vs loss 26,000 dlrs
Revs 7,671,000 dlrs vs 4,775,000 dlrs
12 mths
Shr profit one dlr vs profit 2.19 dlrs
Net profit 2,927,000 dlrs vs profit 5,613,000 dlrs
Revs 40.9 mln vs 35.8 mln
|
test/19269 | test/19269 |@title u:2 refuse:1 part:1 two:1 australia:1 beef:1 cargoe:1 |@word agriculture:1 department:2 inspector:1 refuse:1 entry:1 part:1 two:1 lot:1 australian:3 beef:1 pesticide:1 residue:4 spokeswoman:2 say:4 usda:1 notify:1 australia:1 assure:1 strict:1 control:3 would:1 implement:1 government:1 already:2 impose:1 believe:1 meat:2 presticide:1 pipeline:1 put:1 place:1 five:1 case:1 level:1 u:1 allowable:1 limit:1 year:1 | U.S. REFUSES PARTS OF TWO AUSTRALIA BEEF CARGOES
U.S. Agriculture Department
inspectors have refused entry to parts of two lots of
Australian beef because of pesticide residues, a spokeswoman
for the department said.
She said USDA has notified Australia, which assured it that
stricter controls would be implemented.
The Australian government had already imposed residue
controls and it is believed the meat with the presticide
residues was already in the pipeline before the controls were
put in place, the spokeswoman said.
There have been five other cases of Australian meat which
had residue levels above U.S. allowable limits this year, she
said.
|
test/19270 | test/19270 |@title chevron:1 chv:1 cut:1 unc:2 stake:1 8:1 4:1 pct:1 |@word chevron:2 corp:2 say:3 sell:3 4:4 6:2 mln:5 share:3 unc:4 inc:2 common:2 stock:2 june:1 15:1 leave:1 1:1 8:1 pct:1 total:2 filing:1 securities:2 exchange:1 commission:1 11:1 88:1 dlrs:3 54:1 agreement:1 underwriting:1 syndicate:1 manage:1 dillon:1 read:1 co:1 donaldson:1 lufkin:1 jenrette:1 underwriter:1 pay:2 38:1 3:1 16:1 | CHEVRON <CHV> CUTS UNC <UNC> STAKE TO 8.4 PCT
Chevron Corp said it sold 4.6 mln
shares of UNC Inc common stock on June 15, leaving it with 1.4
mln UNC common shares, or 8.4 pct of the total.
In a filing with the Securities and Exchange Commission,
Chevron said it sold the shares for 11.88 dlrs each, or a total
of 54.6 mln dlrs, under an agreement it had with UNC.
The stock was sold to an underwriting syndicate managed by
Dillon, Read and Co Inc and Donaldson, Lufkin and Jenrette
Securities Corp, with the underwriters paying 38.3 mln dlrs and
UNC paying 16.4 mln, it said.
|
test/19271 | test/19271 |@title n:2 resources:1 nudy:1 agree:1 acquire:1 atoka:1 |@word resources:2 inc:2 say:1 agree:1 principle:1 issue:1 undetermined:1 number:1 share:1 recovery:2 corp:1 bahrain:1 order:1 acquire:1 atoka:2 gas:2 gathering:1 systems:1 currently:1 operate:1 20:1 mile:2 natural:1 pipeline:1 46:1 length:1 southeastern:1 oklahoma:1 | N-D RESOURCES <NUDY.O> AGREES TO ACQUIRE ATOKA
N-D Resources Inc said it
agreed in principle to issue an undetermined number of shares
to Recovery Resources Corp, Bahrain, in order to acquire
Recovery's Atoka Gas Gathering Systems Inc.
Atoka currently operates a 20-mile natural gas pipeline of
46 miles in length in southeastern Oklahoma.
|
test/19272 | test/19272 |@title safeway:1 agree:1 severance:1 dallas:1 worker:1 |@word united:1 food:1 commercial:1 workers:1 union:4 say:4 unlisted:1 safeway:1 inc:1 agree:1 provide:1 severance:2 pay:1 5:1 000:1 worker:1 dallas:1 area:1 result:2 closure:1 division:2 last:2 april:1 total:1 payment:1 five:1 mln:1 dlrs:2 close:1 4:1 6:1 billion:1 debt:1 incur:1 leverage:2 buyout:3 year:1 file:1 suit:1 follow:1 protect:1 claim:1 member:1 leveraged:1 implement:1 ward:1 bid:1 dart:1 group:1 corp:1 darta:1 | SAFEWAY AGREES TO SEVERANCE FOR DALLAS WORKERS
The United Food and Commercial
Workers Union said unlisted Safeway Inc has agreed to provide
severance pay to about 5,000 workers in the Dallas area
resulting from the closure of a division last April.
The union said the total severance payment will be about
five mln dlrs. It said the division was closed as a result of
4.6 billion dlrs in debt incurred from a leveraged buyout last
year.
The union said it filed suit following the leveraged buyout
to protect the claims of union members.
The leveraged buyout was implemented to ward off a bid by
Dart Group Corp <DARTA.O>.
|
test/19273 | test/19273 |@title african:1 state:1 agree:1 regional:1 tariff:1 cut:1 |@word fifteen:1 country:1 eastern:1 southern:1 africa:1 agree:1 cut:2 tariff:3 regional:1 trade:5 10:1 pct:1 every:1 two:1 year:3 1996:2 statement:1 preferential:1 area:1 pta:4 seek:1 create:1 common:2 market:1 stretch:1 ethiopia:2 north:1 lesotho:2 south:1 say:3 government:1 would:2 make:1 first:1 next:1 assess:1 impact:1 reduction:2 work:1 new:1 timetable:1 complete:1 elimination:1 barrier:1 2000:1 set:1 1982:1 group:1 burnudi:1 comoros:1 djibouti:1 kenya:1 malawi:1 mauritius:1 rwanda:1 somalia:1 swaziland:1 tanzania:1 uganda:1 zambia:1 zimbabwe:1 source:2 agreement:1 avert:1 split:1 member:1 want:1 progress:1 towards:1 free:1 weak:1 state:1 concerned:1 effect:1 custom:1 revenue:1 cover:1 list:2 300:1 widely:1 commodity:1 good:1 organisation:1 plan:1 expand:1 include:1 425:1 item:1 | AFRICAN STATES AGREE TO REGIONAL TARIFF CUTS
Fifteen countries in Eastern and
Southern Africa have agreed to cut tariffs on regional trade by
10 pct every two years up to 1996.
A statement by the Preferential Trade Area (PTA), which
seeks to create a common market stretching from Ethiopia in the
north to Lesotho in the south, said the governments would make
the first tariff cut next year.
In 1996 they would assess the impact of the tariff
reductions and work out a new timetable for the complete
elimination of all barriers to trade by the year 2000.
The PTA, set up in 1982, groups Burnudi, the Comoros,
Djibouti, Ethiopia, Kenya, Lesotho, Malawi, Mauritius, Rwanda,
Somalia, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.
PTA sources said the agreement averted a split between
members wanting more progress towards free trade and weaker
states concerned about the effects on customs revenue.
The reductions cover only a common list of 300 or so widely
traded commodities and goods but PTA sources said the
organisation planned to expand the list to include 425 items.
|
test/19275 | test/19275 |@title saskatchewan:1 crop:1 deteriorate:1 hot:1 weather:1 |@word hot:1 dry:1 weather:1 cause:1 deterioration:1 saskatchewan:2 crop:5 accord:1 wheat:3 pool:1 weekly:1 report:2 rain:2 need:2 southwest:1 west:1 central:1 northeast:1 region:2 expect:1 soon:1 summerfallow:1 fair:2 good:1 condition:1 stubble:1 rate:1 poor:1 durum:1 oats:1 barley:1 one:1 pct:5 head:1 rye:1 40:1 milk:2 stage:2 winter:1 21:1 flax:1 51:1 tillering:2 canola:1 58:1 area:1 southern:1 grain:1 belt:1 hit:1 high:1 wind:1 hail:1 tuesday:1 damage:1 | SASKATCHEWAN CROPS DETERIORATE IN HOT WEATHER
Hot, dry weather has caused some
deterioration in Saskatchewan crops, according to the
Saskatchewan Wheat Pool's weekly crop report.
Rain was needed in the southwest, west-central and
northeast regions, and other regions were expected to need rain
soon.
Summerfallow crops were in fair to good condition, while
stubble crops were rated fair to poor. Wheat, durum, oats and
barley crops were all one-pct headed, rye was 40 pct in the
milk stage and winter wheat was 21 pct milk stage.
Flax was 51 pct tillering, and canola was 58 pct tillering.
Areas of the southern grain belt were hit by high winds and
hail Tuesday, with some damage reported.
|
test/19277 | test/19277 |@title japan:1 buy:1 8:1 000:1 tonne:1 canadian:1 rapeseed:1 |@word japanese:1 crusher:1 buy:1 8:1 000:1 tonne:1 canadian:1 rapeseed:1 shipment:1 last:1 half:1 july:1 september:1 trade:1 source:1 say:1 price:1 detail:1 available:1 | JAPAN BUYS 8,000 TONNES OF CANADIAN RAPESEED
Japanese crushers bought 8,000 tonnes
of Canadian rapeseed for shipment from the last-half of July to
September, trade sources said.
Price details were not available.
|
test/19280 | test/19280 |@title galaxy:1 gtv:1 sell:1 west:1 texas:1 asset:1 |@word galaxy:3 cablevision:1 l:1 p:1 say:2 sign:1 letter:1 intent:1 sell:1 asset:2 cable:3 television:3 system:3 west:1 texas:1 serve:1 4:1 600:1 basic:1 subscriber:1 nine:1 term:1 disclose:1 identify:1 buyer:1 company:1 also:1 make:1 first:1 cash:1 dividend:1 37:1 cent:1 per:1 unit:2 august:1 15:1 holder:1 record:1 june:1 30:1 march:1 complete:1 public:1 offering:1 2:2 mln:3 43:1 dlrs:2 acquire:1 132:1 34:1 | GALAXY <GTV> TO SELL WEST TEXAS ASSETS
Galaxy Cablevision L.P. said it
signed a letter of intent to sell the assets of its cable
television systems in West Texas which serve about 4,600 basic
subscribers through nine cable television systems.
Terms were not disclosed and the Galaxy did not identify
the buyer. The company also said it will make its first cash
dividend of 37 cents per unit on or about August 15 to holders
of record June 30.
In March, Galaxy completed a public offering of 2.2 mln
units for 43 mln dlrs and acquired the assets of 132 cable
television systems for about 34 mln dlrs.
|
test/19281 | test/19281 |@title north:2 american:2 communications:2 weigh:2 possible:2 sale:2 merger:2 |@word | NORTH AMERICAN COMMUNICATIONS WEIGHS POSSIBLE SALE OR
MERGER
NORTH AMERICAN COMMUNICATIONS WEIGHS POSSIBLE SALE OR
MERGER
|
test/19283 | test/19283 |@title stifel:1 financial:1 sf:1 receive:1 merger:1 proposal:1 |@word stifel:3 financial:1 corp:1 say:4 receive:1 unsolicited:1 merger:1 proposal:5 privately:1 hold:1 laidlaw:3 adams:1 peck:1 inc:1 15:1 dlrs:2 share:3 cash:1 outstanding:2 expire:1 july:1 1:1 value:1 54:1 mln:2 3:1 6:1 company:1 management:1 board:1 director:1 consider:1 set:1 date:1 meet:1 currently:1 study:1 goldman:1 sachs:1 co:1 legal:1 counsel:1 condition:1 include:1 obtain:1 necessary:1 financing:1 satisfactory:1 completion:1 due:1 diligence:1 investigation:1 execution:1 employment:1 contract:1 key:1 employee:1 designate:1 | STIFEL FINANCIAL <SF> RECEIVES MERGER PROPOSAL
Stifel Financial Corp said it
received an unsolicited merger proposal from privately held
Laidlaw Adams and Peck Inc for 15 dlrs a share in cash for all
its outstanding shares.
The proposal, which expires July 1, values Stifel at about
54 mln dlrs.
Stifel has about 3.6 mln shares outstanding.
The company said its management and board of directors will
consider the proposal but have not set a date to meet.
It said the proposal is currently being studied by Goldman
Sachs and Co and legal counsel.
It said conditions of the proposal include obtaining
necessary financing, satisfactory completion of a due diligence
investigation by Laidlaw, and execution of employment contracts
with key employees to be designated by Laidlaw.
|
test/19284 | test/19284 |@title canadian:2 money:2 supply:2 1:2 fall:2 430:2 mln:2 dlrs:2 week:2 bank:2 canada:2 say:2 |@word | CANADIAN MONEY SUPPLY M-1 FELL 430 MLN DLRS IN WEEK, BANK
OF CANADA SAID
CANADIAN MONEY SUPPLY M-1 FELL 430 MLN DLRS IN WEEK, BANK
OF CANADA SAID
|
test/19285 | test/19285 |@title u:2 oil:1 price:1 strong:1 ahead:1 opec:1 meeting:1 |@word crude:3 oil:11 price:17 high:4 level:2 year:3 ahead:1 next:1 week:1 opec:13 meeting:7 even:1 though:1 industry:3 analyst:8 expect:7 policy:3 change:4 session:1 say:11 steadily:1 climb:2 since:2 organization:1 accord:1 december:6 rise:2 technical:1 factor:2 within:1 market:6 concern:1 supply:2 iran:3 iraq:4 war:2 could:2 disrupt:2 delivery:1 gulf:3 u:3 benchmark:1 west:2 texas:2 intermediate:2 trade:2 around:1 20:3 55:1 dlrs:7 july:1 contract:1 new:1 york:1 mercantile:1 exchange:1 energy:1 future:1 spot:1 january:1 1986:1 conference:1 president:3 rilwanu:1 lukman:1 nigeria:1 minister:1 friday:1 vienna:1 brief:1 calm:1 current:1 production:3 agreement:3 may:2 need:3 slight:1 review:1 although:1 expert:1 reaffirmation:1 continue:3 due:1 desire:1 hedge:1 position:1 case:1 surprise:1 soon:1 point:1 bar:1 increase:5 tension:2 begin:1 ease:1 probably:1 anything:1 already:1 agree:2 firm:1 john:2 hill:1 vice:1 merrill:1 lynch:1 futures:1 maintain:1 official:4 18:4 barrel:9 raise:3 group:1 ceiling:1 16:1 6:1 mln:4 per:1 day:4 third:1 quarter:3 3:2 fourth:2 help:1 send:1 sharply:1 higher:1 15:1 early:1 several:1 member:1 hawk:1 include:1 algeria:1 libya:1 seek:1 reduction:1 output:1 great:1 chance:1 nauman:1 barakat:1 smith:1 barney:1 harris:1 upham:1 co:1 moderate:1 producer:2 saudi:4 arabia:3 block:1 non:1 event:1 particular:1 commit:1 stabilize:1 rosario:1 ilacqua:1 l:1 f:1 rothschild:1 however:1 hold:1 september:1 evaluate:1 condition:1 overproduction:1 become:1 real:2 problem:1 quota:2 pipeline:1 turkey:1 bring:1 another:1 500:1 000:1 lichtblau:1 petroleum:1 ressearch:1 foundation:1 oppose:1 many:1 look:1 end:1 offset:1 decline:2 dollar:2 denominate:1 throughout:1 world:1 currency:1 receive:1 less:1 money:1 restraint:1 sanford:1 margoshe:1 shearson:1 lehman:1 brothers:1 second:1 half:1 saudis:1 produce:1 4:1 1:1 therefore:1 act:1 vehicle:1 stablize:1 pave:1 way:1 two:1 1987:1 one:1 uncertain:1 course:1 wild:1 card:1 persian:1 frank:1 knuettel:2 prudential:1 bache:1 securite:1 tanker:2 take:1 kuwait:2 regular:1 target:1 iranian:1 plane:1 reagan:1 administration:1 plan:1 put:1 protection:1 flag:1 naval:1 escort:1 extra:1 inventory:1 time:1 crisis:1 like:1 general:1 nervousness:1 incident:1 drive:1 | U.S. OIL PRICES STRONG AHEAD OF OPEC MEETING
U.S. crude oil prices are at their
highest level in more than a year ahead of next week's OPEC
meeting, even though most industry analysts do not expect any
policy changes from the session.
They said prices, which have steadily climbed since the
organization's accord in December, have risen on technical
factors within the market and concerns about supplies because
of the Iran-Iraq war, which could disrupt deliveries from the
Gulf.
The U.S. benchmark crude West Texas Intermediate is trading
around 20.55 dlrs in the July contract on New York Mercantile
Exchange's energy futures and in the spot market. That is its
highest level since January 1986.
OPEC conference president Rilwanu Lukman, who is Nigeria's
oil minister, said Friday he expects the meeting in Vienna to
be brief and calm and that OPEC's current price and production
agreement may only need a slight review.
Although most industry experts expect just a reaffirmation
of the December agreement, oil prices continue to climb due to
a desire to hedge positions in case of any surprises.
Analysts expect the higher prices to continue until soon
after the OPEC meeting. At that point, barring any increased
tension in the Gulf or changes in OPEC's policies, prices
should begin easing.
'OPEC will probably not do anything it hasn't already agreed
to in December because oil prices are firm,' said John Hill, a
vice president at Merrill Lynch Futures.
OPEC agreed in December to maintain official oil prices at
18 dlrs a barrel and raise the group's production ceiling to
16.6 mln barrels per day in the third quarter and to 18.3 mln
barrels in the fourth quarter.
This agreement helped send prices sharply higher, rising
from 15 dlrs a barrel in early December.
Several OPEC members who are price hawks, including Iran,
Algeria and Libya, will seek a higher official price and a
reduction in output.
'And if U.S. West Texas Intermediate crude continues to
trade above 20 dlrs a barrel, there is a greater chance that
OPEC will raise its official 18 dlrs price,' said Nauman
Barakat, analyst at Smith Barney, Harris Upham and Co.
But most analysts expect the more moderate producers, such
as Saudi Arabia, to block any changes in policy.
'The meeting will be a non-event with no change in the
official prices because OPEC, and in particular the Saudis, are
committed to stabilizing the market,' said Rosario Ilacqua,
analyst with L.F. Rothschild.
However, some analysts said OPEC may need to hold a meeting
in September to re-evaluate market conditions.
Overproduction by OPEC will become a real problem in the
fourth quarter when the quota is raised to 18.3 mln barrels a
day and Iraq's pipeline through Turkey brings another 500,000
barrels to the market each day, said John Lichtblau, president
of Petroleum Industry Ressearch Foundation.
Most expect Saudi Arabia to oppose a price increase at this
meeting but many look for an increase by year-end to 20 dlrs to
offset the decline in the dollar. Oil prices are denominated
throughout the world in dollars, so as the currency declines,
producers receive less money for their oil.
'The only real production restraint in OPEC is Saudi Arabia,'
said Sanford Margoshes, analyst at Shearson Lehman Brothers.
'In the second half of the year we expect the Saudis not to
produce at their 4.1 mln barrel a day quota and therefore act
as a vehicle to stablize the market and pave the way for a two
dlrs a barrel price increase at the December 1987 meeting,' he
said.
One uncertain factor is the course of the Iran-Iraq war.
'The wild card is the increased tensions in the Persian
Gulf,' said Frank Knuettel, analyst with Prudential-Bache
Securites.
Oil tankers taking oil from Iraq and Kuwait have been
regular targets for Iranian planes. The Reagan administration
is planning to put Kuwait tankers under the protection of the
U.S. flag, with naval escorts.
'Extra (oil) inventories are needed during a time of crisis
like this, and just general nervousness over an incident that
could disrupt oil supplies drives prices up,' Knuettel said.
|
test/19286 | test/19286 |@title n:1 times:1 nyt:1 buy:1 gwinnett:1 daily:1 news:1 |@word new:2 york:2 times:2 co:1 say:3 agreement:2 buy:1 gwinnett:3 daily:1 news:3 evening:1 newspaper:1 publish:2 lawrenceville:1 ga:1 term:1 disclose:1 company:1 weekday:1 circulation:2 27:1 500:1 sunday:2 30:1 900:1 also:1 county:3 northeast:1 suburb:1 atlanta:1 fast:1 grow:1 country:1 purchase:1 include:1 forsyth:1 wednesday:1 winder:1 weekly:1 among:1 publication:1 | N.Y. TIMES <NYT> TO BUY GWINNETT DAILY NEWS
The New York Times Co said it had an
agreement to buy the Gwinnett Daily News, an evening newspaper
published in Lawrenceville, Ga., Terms were not disclosed.
The company said Gwinnett has a weekday circulation of
about 27,500 and a Sunday circulation of about 30,900. The New
York Times also said Gwinnett County, a northeast suburb of
Atlanta, is the fastest-growing county in the country.
The purchase agreement includes the Forsyth County News,
published on Wednesday and Sunday and the Winder News, a
weekly, among other publications.
|
test/19290 | test/19290 |@title reed:1 say:1 comment:1 harcourt:1 rumour:1 |@word reed:4 international:1 plc:1 l:2 say:2 comment:1 make:2 u:1 k:1 stock:1 market:2 rumor:1 harcourt:1 brace:1 jovanovich:1 inc:1 hbj:1 may:1 bid:2 company:1 order:1 escape:1 unwelcome:1 offer:1 robert:1 maxwell:1 british:1 printing:1 communication:1 corp:1 bpcl:1 spokeswoman:1 early:1 analyst:1 forecast:1 700:1 mln:1 stg:2 totally:1 unrealistic:1 add:1 current:1 2:1 7:1 billion:1 | REED SAYS IT HAS NO COMMENT ON HARCOURT RUMOURS
Reed International Plc <REED.L> said it
had no comment to make on U.K. stock market rumors that
Harcourt Brace Jovanovich Inc <HBJ> may make a bid for the
company in order to escape unwelcome offers from Robert
Maxwell's British Printing and Communication Corp <BPCL.L>.
A spokeswoman for Reed said earlier analysts forecasts that
a bid for Reed will have to be about 700 mln stg were totally
unrealistic, adding that its current market is about 2.7
billion stg.
|
test/19291 | test/19291 |@title unocal:1 ucl:1 scrap:1 fluidized:1 bed:1 boiler:1 project:1 |@word unocal:7 corp:3 say:7 tell:1 u:3 treasury:2 department:2 include:1 fluidize:1 bed:3 combustion:2 technology:2 method:1 efficient:1 burning:1 solid:1 parachute:2 creek:2 oil:6 shale:5 project:3 colorado:1 due:1 high:1 cost:2 1985:1 agreement:1 defunct:1 synthetic:2 fuels:2 would:4 study:2 use:1 plant:2 return:1 company:1 eligible:1 500:1 mln:3 dlrs:3 loan:2 gaurantee:1 price:3 support:2 take:1 contract:1 show:1 fluidized:2 facility:2 exceed:1 352:1 compare:1 original:1 estimate:1 260:1 provide:1 heat:1 electricity:1 last:1 year:1 fall:1 loss:1 investment:1 tax:2 credit:1 reform:1 act:1 make:1 uneconomical:1 even:1 government:1 guarantee:1 produce:1 4:1 000:2 5:1 barrel:1 per:1 day:1 crude:1 | UNOCAL<UCL> SCRAPS FLUIDIZED BED BOILER PROJECT
Unocal Corp said it told the U.S.
Treasury Department that it will not include fluidized bed
combustion technology, a method for the more efficient burning
of solids, at its Parachute Creek oil shale project in Colorado
due to high costs.
Under a 1985 agreement with the now-defunct U.S. Synthetic
Fuels Corp, Unocal said it would study using the technology at
the oil shale plant. In return the company would have been
eligible for 500 mln dlrs in loan gaurantees and price supports
from the U.S. Treasury Department, which took over the contract
from the Synthetic Fuels Corp, Unocal said.
Unocal said its studies showed the cost for the fluidized
bed combustion facility would have exceeded 352 mln dlrs,
compared with an original estimate of 260 mln dlrs.
The fluidized bed facility would have provided heat and
electricity for the oil shale project, Unocal said.
Last year's fall in oil prices and the loss of investment
tax credit under the Tax Reform Act made the project
uneconomical even with government price supports and loan
guarantees, Unocal said.
The Parachute Creek oil shale plant produces about 4,000 to
5,000 barrels per day of crude shale oil, Unocal said.
|
test/19293 | test/19293 |@title civil:1 service:1 strike:1 delay:1 u:1 k:1 trade:1 figure:1 |@word civil:1 service:1 industrial:1 action:1 start:1 early:1 month:2 delay:2 publication:1 may:1 u:1 k:1 overseas:1 trade:3 figure:3 due:2 next:1 thursday:1 industry:1 department:2 statement:1 say:2 spokesman:1 probably:1 put:1 back:1 june:1 late:1 july:1 also:1 add:1 | CIVIL SERVICE STRIKE DELAYS U.K. TRADE FIGURES
Civil service industrial action started
early this month will delay the publication of May's U.K.
Overseas trade figures, which had been due out next Thursday, a
Trade and Industry Department statement said.
A department spokesman said the figures will probably be
put back by about a month. The June trade figures, due in late
July, will also be delayed, he added.
|
test/19294 | test/19294 |@title canadian:1 money:1 supply:1 fall:1 week:1 |@word canadian:3 narrowly:1 define:1 money:1 supply:1 1:5 fall:9 430:1 mln:13 dlrs:26 35:1 65:2 billion:13 week:4 end:3 june:3 10:1 bank:5 canada:3 say:1 plus:3 daily:1 interest:1 chequable:1 non:2 personal:3 deposit:4 874:1 79:1 97:1 2:2 notice:1 fix:2 term:3 952:1 184:1 45:2 3:1 foreign:2 currency:2 resident:1 book:1 charter:4 549:1 225:1 30:1 general:1 loan:1 outstanding:2 584:1 127:1 58:1 liquid:1 short:1 asset:3 rise:3 20:1 37:1 96:1 total:2 dollar:1 major:1 753:1 229:1 05:1 net:1 92:2 minus:1 note:1 circulation:1 17:3 11:1 59:1 government:2 cash:1 balance:1 26:1 security:1 424:1 227:1 38:1 treasury:1 bill:1 700:1 78:1 00:1 savings:1 bond:1 121:1 42:1 | CANADIAN MONEY SUPPLY FALLS IN WEEK
Canadian narrowly-defined money supply
M-1 fell 430 mln dlrs to 35.65 billion dlrs in week ended June
10, Bank of Canada said.
M-1-A, which is M-1 plus daily interest chequable and
non-personal deposits, fell 874 mln dlrs to 79.97 billion dlrs
and M-2, which is M-1-A plus other notice and personal
fixed-term deposits, fell 952 mln dlrs to 184.45 billion dlrs.
M-3, which is non-personal fixed term deposits and foreign
currency deposits of residents booked at chartered banks in
Canada, fell 549 mln dlrs to 225.30 billion dlrs.
Chartered bank general loans outstanding fell 584 mln dlrs
to 127.58 billion dlrs.
Canadian liquid plus short term assets rose 20 mln dlrs to
37.96 billion dlrs and total Canadian dollar major assets of
the chartered banks fell 753 mln dlrs to 229.05 billion dlrs.
Chartered bank net foreign currency assets fell 92 mln dlrs
to minus 1.92 billion dlrs.
Notes in circulation totalled 17.11 billion dlrs, up 59 mln
dlrs from the week before.
Government cash balances rose 26 mln dlrs to 2.65 billion
dlrs in week ended June 17.
Government securities outstanding fell 424 mln dlrs to
227.38 billion dlrs in week ended June 17, treasury bills rose
700 mln dlrs to 78.00 billion dlrs and Canada Savings Bonds
fell 121 mln dlrs to 42.45 billion dlrs.
|
test/19295 | test/19295 |@title platinum:1 demand:1 estimate:1 17:1 pct:1 high:1 1991:1 |@word demand:3 platinum:4 could:1 reach:1 3:1 4:1 mln:2 ounce:5 1991:1 compare:1 estimate:1 offtake:1 2:1 88:1 1986:1 chris:1 clark:6 marketing:1 director:1 johnson:1 matthey:1 plc:1 say:6 tell:1 meeting:1 minerals:1 research:1 organisation:1 milton:1 keynes:1 foresee:1 250:1 000:4 increase:5 consumption:2 use:1 autocatalyst:1 currently:1 large:1 single:1 application:1 jewellery:1 set:2 rise:1 70:1 predict:1 speech:1 text:1 release:1 london:1 today:1 forecast:1 allow:1 modest:1 investment:3 buying:1 may:3 well:1 cautious:1 south:2 africa:2 likely:1 source:1 additional:2 supply:1 need:1 output:2 500:1 meet:1 capital:1 require:2 produce:1 would:1 around:1 one:1 billion:1 u:1 dlrs:1 political:1 climate:1 make:1 difficult:1 raise:1 money:1 soviet:1 union:1 whose:1 export:1 decline:1 since:1 1970:1 sale:1 west:1 50:1 probability:1 growth:1 massive:1 expansion:2 viable:1 russia:1 lead:1 conclude:1 price:1 substantially:1 underpin:1 medium:1 long:1 term:1 | PLATINUM DEMAND ESTIMATED 17 PCT HIGHER BY 1991
Demand for platinum could reach 3.4 mln
ounces by 1991, compared with an estimated offtake of 2.88 mln
in 1986, Chris Clark, platinum marketing director for Johnson
Matthey Plc said.
Clark told a meeting of the Minerals Research Organisation
in Milton Keynes he foresaw a 250,000 ounce increase in
consumption for use in autocatalysts, currently the largest
single application for platinum.
Jewellery consumption is set to rise by 70,000 ounces,
Clark predicted in his speech, the text of which was released
in London today.
Clark said his forecast allowed for only a modest further
increase in investment buying and may well be cautious.
He said South Africa was the most likely source of
additional supplies and will need to increase output by about
500,000 ounces to meet increased demand.
The capital investment required to produce the additional
output would be around one billion U.S. Dlrs and the political
climate may make it difficult to raise the money, he said.
The Soviet Union, whose exports have declined since the
1970s, might increase sales to the West by about 50,000 ounces,
Clark said.
'The very probability of a growth in demand set against the
massive investment required for expansion - and that expansion
only being viable in South Africa or Russia - leads me to
conclude that the price of platinum will be substantially
underpinned in the medium to long-term,' Clark said.
|
test/19297 | test/19297 |@title metro:1 airlines:1 mair:1 make:1 acquisition:1 |@word metro:1 airlines:2 inc:2 say:1 agree:1 principle:1 acquire:1 privately:1 hold:1 chaparral:2 5:1 700:1 000:1 dlrs:2 cash:1 provide:1 regularly:1 schedule:1 service:1 dallas:1 fort:1 worth:1 regional:1 airport:1 affiliated:1 carrier:1 amr:2 corp:1 revenue:1 1986:1 14:1 1:1 mln:1 | METRO AIRLINES <MAIR.O> TO MAKE ACQUISITION
Metro Airlines Inc said it has agreed in
principle to acquire privately held Chaparral Airlines inc for
5,700,000 dlrs in cash.
Chaparral provides regularly scheduled service out of
Dallas/Fort Worth Regional Airport as an affiliated carrier of
AMR Corp <AMR> and had revenues in 1986 of 14.1 mln dlrs.
|
test/19304 | test/19304 |@title telco:1 systems:1 inc:1 telc:1 3rd:1 qtr:1 may:1 31:1 loss:1 |@word shr:2 loss:6 46:1 ct:3 vs:7 five:1 net:2 3:1 922:1 000:8 420:1 sale:1 16:1 0:1 mln:2 23:1 9:1 avg:2 shrs:2 8:5 567:1 458:1 nine:1 mth:1 1:1 02:1 dlrs:1 profit:2 35:1 685:1 2:1 978:1 547:1 437:1 | TELCO SYSTEMS INC <TELC.O> 3RD QTR MAY 31 LOSS
Shr loss 46 cts vs loss five cts
Net loss 3,922,000 vs loss 420,000
Sales 16.0 mln vs 23.9 mln
Avg shrs 8,567,000 vs 8,458,000
Nine mths
Shr loss 1.02 dlrs vs profit 35 cts
Net loss 8,685,000 vs profit 2,978,000
Avg shrs 8,547,000 vs 8,437,000
|
test/19307 | test/19307 |@title altus:1 bank:1 alt:1 fail:1 reach:1 agreement:1 |@word altus:2 bank:1 say:1 able:1 reach:1 definitive:1 agreement:1 buy:1 horizon:4 financial:2 corp:1 funding:2 2:1 8:1 billion:1 dlrs:1 loan:4 service:1 victor:2 savings:2 association:3 formerly:1 know:1 first:1 southern:1 federal:1 saving:1 earlier:1 announce:1 signing:1 letter:1 intent:1 make:1 acquisition:1 unit:1 | ALTUS BANK <ALTS.O> FAILS TO REACH AGREEMENT
Altus Bank said it has not been
able to reach a definitive agreement to buy Horizon Financial
Corp, Horizon Funding and 2.8 billion dlrs in loan servicing
from Victor Savings and Loan Association.
Altus, formerly known as First Southern Federal Savings and
Loan Association, earlier announced the signing of a letter of
intent to make the acquisitions.
Horizon Financial and Horizon Funding both are units of
Victor Savings and Loan Association.
|
test/19308 | test/19308 |@title mars:1 graphic:1 services:1 inc:1 wmd:1 1st:1 qtr:1 may:1 31:1 |@word shr:1 12:1 ct:2 vs:4 10:1 net:1 189:1 578:1 100:1 254:1 sale:1 3:2 403:1 914:1 122:1 983:1 avg:1 shrs:1 1:1 617:1 600:1 954:1 400:1 | MARS GRAPHIC SERVICES INC <WMD> 1ST QTR MAY 31
Shr 12 cts vs 10 cts
Net 189,578 vs 100,254
Sales 3,403,914 vs 3,122,983
Avg shrs 1,617,600 vs 954,400
|
test/19312 | test/19312 |@title marcade:1 group:1 inc:1 mar:1 buy:1 europe:1 craft:1 |@word marcade:2 group:1 say:4 agree:1 buy:1 europe:3 craft:3 imports:1 inc:1 combination:1 cash:1 common:1 stock:1 company:2 design:1 import:1 distribute:1 menswear:1 sportswear:1 member:1 brand:1 name:1 sale:1 70:1 mln:1 dlrs:1 last:1 year:1 late:1 deal:1 part:1 ongoing:1 acquisition:1 phase:1 | MARCADE GROUP INC <MAR> BUYS EUROPE CRAFT
Marcade Group said it had agreed to buy
Europe Craft Imports Inc for a combination of cash and common
stock.
The company said Europe Craft designs, imports and
distributes menswear and sportswear under the Member's Only
brand name.
The company said Europe Craft had sales of 70 mln dlrs last
year.
Marcade said this latest deal is part of an ongoing
acquisition phase.
|
test/19318 | test/19318 |@title european:1 coffee:1 trade:1 propose:1 new:1 quota:1 formula:1 |@word european:2 coffee:8 roaster:1 trader:1 agree:2 propose:1 new:5 formula:7 calculate:1 international:1 organization:1 ico:3 quotas:1 dutch:1 trade:1 association:1 chairman:2 frits:1 van:8 horick:8 say:7 council:1 member:2 federation:1 speak:1 end:1 ecf:1 annual:1 meeting:2 base:1 six:1 year:4 move:1 average:1 would:4 give:1 brazil:5 world:1 big:1 producer:6 unchanged:1 quota:10 remain:1 two:2 current:2 agreement:3 accept:3 consumer:3 could:1 also:2 basis:1 negotiate:1 suspend:1 february:1 last:1 price:2 shoot:1 fear:2 drought:1 induced:1 crop:2 disaster:1 although:2 considerably:1 low:2 unable:1 introduction:1 strongly:1 change:1 proposal:4 leave:1 little:1 object:1 exist:1 system:2 far:1 rigid:1 reflect:2 supply:2 demand:2 reality:1 build:1 flexibility:1 benefit:1 almost:1 everyone:1 full:1 implication:1 still:1 work:1 initial:1 estimate:1 suggest:1 country:2 colombia:1 kenya:1 indonesia:1 costa:1 rica:1 get:2 slightly:1 high:1 ivory:1 coast:1 el:1 salvador:1 nicaragua:1 lose:1 share:1 provide:1 future:1 distribution:1 must:1 actual:1 prevent:1 shipment:1 automatically:1 prejudice:1 following:1 stand:1 least:1 fair:1 chance:1 september:1 generally:1 favour:2 time:1 much:1 depend:1 attitude:1 increasingly:1 isolate:1 side:1 frost:1 damage:1 next:1 month:1 may:1 add:1 | EUROPEAN COFFEE TRADE PROPOSES NEW QUOTA FORMULA
European coffee roasters and traders
have agreed to propose a new formula for calculating
International Coffee Organization, ICO, quotas, Dutch Coffee
Trade Association chairman chairman Frits van Horick said.
Van Horick, who is a council member of the European Coffee
Federation, was speaking at the end of the ECF annual meeting.
The new formula is based on six-year moving averages and
would give Brazil, the world's biggest coffee producer, an
unchanged quota for the remaining two years of the current
coffee agreement, van Horick said.
If accepted by the consumer and producer members of the
ICO, the formula could also be a basis for negotiating a new
agreement, van Horick said.
Coffee quotas were suspended in February last year when
prices shot up on fears of a drought-induced crop disaster in
Brazil.
Although prices are now considerably lower, consumers and
producers have been unable to agree on re-introduction.
'Brazil has been the most strongly against any change in the
formula because it feared a lower quota. But our proposal
leaves it very little to object to,' van Horick said.
'The existing quota system is far too rigid and does not
reflect supply and demand reality,' he said. 'Our formula
builds flexibility into the system and will benefit almost
everyone.'
Although full implications of the new formula have still to
be worked out, initial estimates suggest countries such as
Colombia, Kenya, Indonesia and Costa Rica would get slightly
higher quotas, while others such as the Ivory Coast, El
Salvador and Nicaragua would lose quota share, van Horick said.
Because the proposal provides that future quota
distribution must reflect current demand and actual supply, it
should also prevent under-shipment of quota as countries doing
so would automatically prejudice their following year's quota.
'If the ICO consumers accept our proposal it stands at least
a fair chance of being accepted by the producers at the
September meeting, most of whom are generally in favour of a
new quota formula, ' van Horick said.
At the same time much will depend on Brazil's attitude.
'Brazil is increasingly isolated on the producer side. If
there is no frost damage to its coffee crop over the next two
months and most other producers favour our proposal, we might
just get an agreement,' van Horick added.
|
test/19322 | test/19322 |@title brazil:1 buy:1 french:1 wheat:1 tender:1 |@word brazil:1 buy:2 75:1 000:4 tonne:7 french:1 wheat:3 tender:2 brazilian:1 board:3 spokesman:2 say:3 accept:2 offer:1 25:3 grain:1 firm:1 j:1 souffle:1 80:1 49:1 dlrs:3 per:3 fob:3 august:1 shipment:4 september:1 graniere:1 79:2 32:1 october:1 andre:1 companie:1 47:1 next:1 aug:1 sept:1 oct:1 set:1 june:1 24:1 | BRAZIL BUYS FRENCH WHEAT AT TENDER
Brazil has bought 75,000 tonnes
of French wheat at tender, a Brazilian Wheat Board spokesman
said.
He said the Board accepted offers for 25,000 tonnes of
wheat from grain firm J. Souffle at 80.49 dlrs per tonne Fob
for August shipment.
For September shipment, the Board bought 25,000 tonnes from
Graniere at 79.32 dlrs per tonne Fob, and for October shipment
it accepted 25,000 tonnes from Andre and Companie at 79.47 dlrs
per tonne Fob.
The next tender, for Aug/Sept/Oct shipment, was set for
June 24, the spokesman said.
|
test/19325 | test/19325 |@title n:1 american:1 communications:1 nacs:1 weighs:1 sale:1 |@word north:1 american:1 communications:1 corp:1 say:2 consider:1 several:1 option:1 maximize:1 shareholder:1 value:1 include:1 possible:1 sale:1 merger:1 corporate:1 restructuring:1 leverage:1 buyout:1 trading:1 company:2 stock:1 halt:1 pende:1 announcement:1 operate:1 47:1 cable:1 television:1 system:1 minnesota:1 wisconsin:1 retain:1 communication:1 equity:1 associate:1 financial:1 adviser:1 explore:1 alternative:1 | N. AMERICAN COMMUNICATIONS <NACS.O> WEIGHS SALE
North American Communications Corp
said it is considering several options to maximize shareholder
value, including a possible sale, merger, corporate
restructuring, or leveraged buyout.
Trading in the company's stock was halted pending an
announcement.
The company, which owns and operates 47 cable television
systems in Minnesota and Wisconsin, said it retained
Communications Equity Associates as its financial adviser to
explore alternatives.
|
test/19327 | test/19327 |@title murphy:2 oil:2 say:2 propose:2 acquire:2 remain:2 23:2 pct:2 canadian:2 subsidiary:2 |@word | MURPHY OIL SAID IT PROPOSING TO ACQUIRE REMAINING 23 PCT
OF CANADIAN SUBSIDIARY
MURPHY OIL SAID IT PROPOSING TO ACQUIRE REMAINING 23 PCT
OF CANADIAN SUBSIDIARY
|
test/19329 | test/19329 |@title alcan:1 raise:1 aluminum:1 price:1 two:1 cent:1 lb:1 |@word alcan:2 aluminum:2 corp:1 subsidiary:1 aluminium:1 ltd:1 say:2 increase:1 u:1 primary:1 price:2 two:1 cent:3 lb:2 effective:1 yesterday:1 new:1 72:1 ingot:1 80:1 extrusion:1 billet:1 company:1 | ALCAN RAISES ALUMINUM PRICES TWO CENTS A LB
Alcan Aluminum Corp, a subsidiary of
Alcan Aluminium Ltd, said it increased its U.S. primary
aluminum prices by two cents a lb, effective yesterday.
The new prices are 72 cents a lb for ingot and 80 cents for
extrusion billet, the company said.
|
test/19331 | test/19331 |@title primerica:1 pa:1 complete:1 smith:1 barney:1 takeover:1 |@word primerica:2 corp:1 say:2 complete:1 previously:1 announce:1 acquisition:1 smith:3 barney:3 inc:3 750:1 mln:1 dlrs:1 cash:1 wh:1 ich:1 change:1 name:1 april:1 american:1 co:2 harris:1 upham:1 wholly:1 add:1 100:1 domestic:1 overseas:1 branch:1 office:1 | PRIMERICA <PA> COMPLETES SMITH BARNEY TAKEOVER
Primerica Corp said it
completed the previously announced acquisition of Smith Barney
Inc for 750 mln dlrs in cash.
Primerica, wh ich changed its name in April from American
Can Co, said Smith Barney, Harris Upham and Co Inc, wholly
owned by Smith Barney Inc, will add more than 100 domestic and
overseas branch offices.
|
test/19334 | test/19334 |@title king:1 world:1 kwp:1 financing:1 offer:1 |@word king:3 world:2 productions:1 inc:1 say:1 finance:1 repurchase:2 7:1 600:1 000:2 share:5 announce:1 earlier:1 today:2 cash:1 hand:1 200:1 mln:2 dlrs:2 bank:2 borrowing:1 receive:1 commitment:1 first:1 chicago:1 corp:1 fnb:1 new:1 york:1 bk:1 company:1 start:1 tender:1 offer:1 4:1 100:1 28:1 agree:1 buy:1 3:1 485:1 085:1 member:1 family:1 management:1 together:1 total:1 13:1 9:1 amount:1 25:1 pct:1 stock:1 | KING WORLD <KWP> HAS FINANCING FOR OFFER
King World Productions Inc said it will
finance the repurchase of up to 7,600,000 of its shares
announced earlier today through cash on hand and about 200 mln
dlrs of bank borrowings, for which it has received commitments
from First Chicago Corp <FNB> and Bank of New York <BK>.
The company today started a tender offer for up to
4,100,000 shares at 28 dlrs each and agreed to buy up to
3,485,085 more shares from members of the King family and
management, who together own a total of 13.9 mln shares. All
the shares being repurchased amount to about 25 pct of King
World's stock.
|
test/19341 | test/19341 |@title murphy:1 oil:1 mur:1 acquire:1 canadian:1 subsidiary:1 |@word murphy:2 oil:2 corp:1 say:1 board:1 propose:1 reorganization:1 would:3 acquire:1 23:1 pct:1 common:2 share:3 canadian:2 subsidiary:1 parent:2 proposal:1 undertake:1 court:1 approve:1 plan:1 arrangement:1 shareholder:1 co:1 ltd:1 calgary:1 alberta:1 canada:1 offer:1 option:1 receive:1 31:1 dlrs:1 cash:1 equivalent:1 market:1 value:1 company:1 | MURPHY OIL <MUR> TO ACQUIRE CANADIAN SUBSIDIARY
Murphy Oil Corp said its board
proposed a reorganization in which it would acquire the 23 pct
of common shares of its Canadian subsidiary not owned by the
parent.
Under the proposal, which would be undertaken as a
court-approved plan of arrangement, shareholders of Murphy Oil
Co Ltd of Calgary, Alberta, Canada, would be offered the option
to receive 31 dlrs (Canadian) a share cash or the equivalent
market value of common shares of the parent company.
|
test/19343 | test/19343 |@title investor:1 sell:1 10:1 pct:1 rb:1 rbi:1 stake:1 |@word jeffrey:1 neuman:2 santa:1 monica:1 calif:1 tell:1 securities:1 exchange:1 commission:1 sell:2 entire:2 rb:1 industries:1 inc:1 stake:2 341:1 210:1 share:2 10:1 0:1 pct:1 total:1 outstanding:1 transfer:1 stock:1 nearly:1 two:1 year:1 ago:1 tudor:1 trust:2 trustee:1 say:1 private:1 deal:1 june:1 9:1 11:1 00:1 dlrs:1 | INVESTOR SELLS 10 PCT RB <RBI> STAKE
Jeffrey Neuman, of Santa Monica,
Calif., told the Securities and Exchange Commission he sold his
entire RB Industries Inc stake of 341,210 shares, or 10.0 pct,
of the total outstanding.
Neuman, who transferred the stock nearly two years ago to
the Tudor Trust, of which he is trustee, said the trust sold
the entire stake in a private deal on June 9 at 11.00 dlrs a
share.
|
test/19344 | test/19344 |@title fortune:1 fin:1 l:1 forf:1 unit:1 make:1 acquisition:1 |@word fortune:3 financial:2 group:1 inc:1 say:1 saving:2 bank:2 acquire:1 security:1 loan:2 association:2 branch:1 sunrise:1 fla:2 term:1 disclose:1 new:1 savings:2 office:2 40:1 mln:1 dlrs:1 deposit:1 june:1 5:1 meanwhile:1 acquisition:1 marine:1 florida:1 four:1 naples:1 await:1 regulatory:1 approval:1 | FORTUNE FIN'L <FORF.O> UNIT MAKES ACQUISITION
Fortune Financial Group Inc said
its Fortune Savings Bank acquired a Financial Security Savings
and Loan Association branch in Sunrise, Fla.
Terms were not disclosed.
The new Fortune Savings Bank office had about 40 mln dlrs
in deposits as of June 5.
Meanwhile, acquisition of Marine Savings and Loan
Association of Florida, with four offices in Naples, Fla, is
awaiting regulatory approval.
|
test/19351 | test/19351 |@title group:1 5:1 1:1 pct:1 american:1 physicians:1 amph:1 |@word group:5 lead:1 far:1 hills:1 n:1 j:1 investor:1 natalie:1 paul:2 koether:6 tell:1 securities:1 exchange:1 commission:1 acquire:1 299:1 523:1 share:3 american:2 physicians:1 service:1 inc:1 5:1 1:2 pct:1 total:1 say:6 buy:3 stock:1 0:1 mln:1 dlrs:1 capital:1 appreciation:1 may:3 also:2 meet:1 june:1 8:1 management:1 representative:1 talk:2 include:1 company:5 business:1 potential:1 acquisition:1 possible:1 opportunity:1 expand:1 possibility:1 name:1 board:1 whether:1 result:1 agreement:1 several:1 sec:1 filing:1 concern:1 stake:2 reserve:1 right:1 take:2 action:2 deem:1 appropriate:1 maximize:1 value:1 current:1 plan:1 physician:1 decide:1 sell:1 | GROUP HAS 5.1 PCT OF AMERICAN PHYSICIANS<AMPH.O>
A group led by Far Hills, N.J.,
investors Natalie and Paul Koether told the Securities and
Exchange Commission it has acquired 299,523 shares of American
Physicians Service Group Inc, or 5.1 pct of the total.
The Koether group said it bought the stock for 1.0 mln dlrs
for 'capital appreciation' and may buy more.
The group also said Paul Koether met on June 8 with
management representatives for talks that included the
company's business, potential acquisitions for the company,
possible opportunities to expand the company and the
possibility of Koether being named to its board.
The group did not say whether the talks resulted in any
agreements.
As they have done in several SEC filings concerning other
companies in which they have had a stake, the Koethers said
they reserve the right 'to take any actions which they deem
appropriate to maximize the value of the shares,' but said they
have no current plans about taking any action.
While they may buy more American Physicians shares, the
Koethers also said they may decide to sell some or all of the
their stake in the company.
|
test/19352 | test/19352 |@title barco:2 director:2 approve:2 buyout:2 offer:2 senior:2 management:2 |@word | BARCO DIRECTORS APPROVE BUYOUT OFFER FROM SENIOR
MANAGEMENT
BARCO DIRECTORS APPROVE BUYOUT OFFER FROM SENIOR
MANAGEMENT
|
test/19356 | test/19356 |@title irwin:2 jacobs:2 say:2 hold:2 less:2 five:2 pct:2 gillette:2 |@word | IRWIN JACOBS SAYS HE HOLDS LESS THAN FIVE PCT OF GILLETTE
IRWIN JACOBS SAYS HE HOLDS LESS THAN FIVE PCT OF GILLETTE
|
test/19357 | test/19357 |@title costco:1 wholesale:1 cost:1 3rd:1 qtr:1 may:1 11:1 net:1 |@word oper:5 shr:6 two:1 ct:8 vs:8 three:1 net:2 529:1 000:8 579:1 sale:2 322:1 0:1 mln:4 173:1 8:1 nine:2 mth:2 six:1 eight:1 1:3 619:1 700:1 875:1 482:1 3:1 note:1 data:1 include:1 extraordinary:1 gain:1 tax:1 loss:1 carryforward:1 291:1 dlrs:4 one:2 per:4 316:1 qtr:1 890:1 four:2 992:1 | COSTCO WHOLESALE <COST.O> 3RD QTR MAY 11 NET
Oper shr two cts vs three cts
Oper net 529,000 vs 579,000
Sales 322.0 mln vs 173.8 mln
Nine mths
Oper shr six cts vs eight cts
Oper net 1,619,000 vs 1,700,000
Sales 875.1 mln vs 482.3 mln
Note: oper data does not include extraordinary gains from
tax loss carryforwards of 291,000 dlrs, or one ct per shr, vs
316,000 dlrs, or one ct per shr in qtr and 890,000 dlrs, or
four cts per shr vs 992,000 dlrs, or four cts per shr in nine
mths.
|
test/19358 | test/19358 |@title icco:1 |@word buffer:2 stock:2 manager:2 buy:2 5:2 000:2 tonne:2 cocoa:2 monday:2 june:2 22:2 official:2 icco:1 | ICCO buffer stock manager to buy 5,000
tonnes cocoa Monday, June 22 - official
ICCO buffer stock manager to buy 5,000
tonnes cocoa Monday, June 22 - official
|
test/19359 | test/19359 |@title sithe:1 raise:1 energy:1 factor:1 efac:1 stake:1 |@word sithe:1 energies:1 lp:1 say:1 sign:1 agreement:1 increase:1 interest:1 energy:2 factors:1 inc:1 70:1 0:1 pct:2 53:1 4:1 invest:1 100:1 mln:1 dlrs:1 factor:1 stock:1 | SITHE TO RAISE ENERGY FACTORS <EFAC> STAKE
Sithe-Energies LP said it has signed
an agreement under which it will increase its interest in
Energy Factors Inc to 70.0 pct from 53.4 pct now by investing
100 mln dlrs in Energy Factors stock.
|
test/19360 | test/19360 |@title barco:1 brc:1 board:1 approve:1 leverage:1 buyout:1 |@word bacro:1 california:1 say:3 board:1 approve:1 offer:1 chairman:2 kenneth:1 donner:3 president:1 michael:1 purchase:1 outstanding:2 barco:3 common:1 share:4 5:1 05:1 dlrs:1 per:1 leveraged:1 transaction:1 currently:1 44:1 pct:2 company:1 also:1 vice:1 david:1 grutman:1 family:1 member:1 28:1 agree:1 sell:1 stock:1 offering:1 price:1 | BARCO <BRC> BOARD APPROVES LEVERAGED BUYOUT
Bacro of California said its
board approved an offer from its chairman Kenneth Donner and
President Michael Donner to purchase all the outstanding Barco
common shares at 5.05 dlrs per share in a leveraged
transaction.
The Donners currently own about 44 pct of the company's
outstanding shares, Barco said.
It also said vice chairman David Grutman and family
members, who own about 28 pct of Barco's shares, have agreed to
sell their stock for the offering price.
|
test/19364 | test/19364 |@title irwin:1 jacobs:1 gillette:1 gs:1 stake:1 |@word investor:2 irwin:1 jacobs:3 say:2 investment:1 gillette:4 co:1 amount:1 less:1 five:1 pct:1 consumer:1 product:1 company:3 stock:2 make:2 comment:2 response:1 enquiry:1 yesterday:1 rebuff:1 takeover:2 proposal:1 revlon:2 inc:1 agreement:1 two:1 must:1 permission:2 board:2 offer:1 shareholder:1 decline:1 grant:1 topic:1 speculation:1 several:1 week:1 trade:1 heavily:1 arbitrager:1 believe:1 may:1 sizeable:1 position:1 | IRWIN JACOBS HAS GILLETTE <GS> STAKE
Investor Irwin Jacobs said he has an
investment in Gillette Co amounting to less than five pct of
the consumer products company's stock.
Jacobs, who made his comment in response to an enquiry, did
not comment further.
Yesterday, Gillette rebuffed a takeover proposal from
Revlon Inc. Under an agreement between the two companies,
Revlon must have the permission of Gillette's board before
making an offer to shareholders. The board declined to grant
that permission.
Gillette has been the topic of takeover speculation for
several weeks. Its stock has traded heavily, and arbitragers
said they believe Jacobs may not be the only investor who has a
sizeable position in the company.
|
test/19365 | test/19365 |@title rapitech:1 systems:1 inc:1 rpsy:1 3rd:1 qtr:1 loss:1 |@word april:1 30:1 end:1 shr:2 loss:6 give:2 net:2 449:1 000:8 vs:4 155:1 revs:2 84:1 52:1 nine:1 mth:1 810:1 394:1 173:1 144:1 | RAPITECH SYSTEMS INC <RPSY.O> 3RD QTR LOSS
April 30 end
Shr losses not given
Net loss 449,000 vs loss 155,000
Revs 84,000 vs 52,000
Nine mths
Shr losses not given
Net loss 810,000 vs loss 394,000
Revs 173,000 vs 144,000
|
test/19367 | test/19367 |@title malaysia:1 research:1 tin:1 wary:1 veg:1 oil:1 tax:1 |@word malaysia:3 urge:1 fellow:1 tin:5 produce:4 country:4 contribute:1 money:2 towards:1 research:4 new:7 use:3 metal:1 malaysian:2 primary:1 industries:1 minister:1 lim:8 keng:1 yaik:1 tell:2 reuter:1 interview:1 brussels:1 tour:2 europe:1 america:1 say:7 instruct:1 representative:1 executive:1 committee:1 association:1 atpc:2 draw:1 paper:3 matter:1 earlier:1 meet:1 european:1 community:1 farm:1 commissioner:2 fran:1 andriessen:2 industry:1 karl:1 heinz:1 narjes:2 though:1 appear:2 likely:1 commission:2 proposal:2 tax:2 vegetable:1 marine:1 oil:2 fat:1 would:5 defeat:1 fear:1 revive:1 idea:1 note:1 week:1 promise:1 adopt:1 third:1 suffer:1 export:3 loss:1 result:1 compensate:1 access:1 ec:4 alternative:1 since:1 product:1 commodity:2 base:1 see:1 work:1 case:1 palm:1 worth:1 250:1 mln:1 dlrs:1 year:1 present:2 meeting:1 hold:1 kuala:1 lumpur:1 september:1 enough:1 development:1 effort:1 put:1 producer:1 push:1 substitute:1 aluminium:1 plastic:1 mention:1 inorganic:1 pesticide:1 exciting:1 possible:1 application:1 could:1 estimate:1 amount:1 extra:1 need:1 spend:1 fundamental:1 barrier:1 state:1 quickly:1 ratify:2 international:1 rubber:1 agreement:4 inra:1 although:1 translation:1 accord:2 language:1 still:1 await:1 sign:2 behalf:1 visit:1 york:1 current:1 important:1 long:1 interregnum:1 old:1 lapse:1 october:1 one:1 come:1 force:1 describe:1 model:1 due:1 nearly:1 consume:1 virtue:1 review:1 system:1 control:1 buffer:1 stock:1 management:1 | MALAYSIA TO RESEARCH TIN, WARY ON VEG OILS TAX
Malaysia is to urge fellow tin
producing countries to contribute more money towards research
into new uses for the metal, Malaysian primary industries
minister Lim Keng Yaik told Reuters in an interview.
Lim, in Brussels on a tour of Europe and America, said he
had instructed Malaysia's representatives on the executive
committee of the Association of Tin Producing Countries, ATPC,
to draw up a paper on the matter.
Lim earlier met European Community farm commissioner Frans
Andriessen and industry commissioner Karl-Heinz Narjes.
He said though it now appeared likely Commission proposals
for a tax on vegetable and marine oils and fats would be
defeated, he feared the Commission would revive the idea.
Lim noted Andriessen this week promised that if the tax was
adopted and third countries suffered export losses as a result,
they would be compensated through access to the EC for
alternative exports.
'Since most of our products are commodity based, I cannot
see how this would work out in our case,' Lim said.
Malaysian palm oil exports to the EC are worth about 250
mln dlrs a year.
The tin research proposal would be presented at an ATPC
meeting to be held in Kuala Lumpur in September.
'Not enough research and development effort has been put in
by tin producers and we have been pushed out by substitutes
such as aluminium, paper and plastics,' Lim said.
He mentioned the use of inorganic tin in pesticides as an
exciting possible new application.
Lim said he could not estimate the amount of extra money
which needed to be spent on research into new uses before the
new paper was produced.
He said Narjes told him there appeared no fundamental
barriers to EC states quickly ratifying the new International
Rubber Agreement, INRA, although translations of the accord
into some EC languages are still being awaited.
Lim, who will sign and ratify the agreement on Malaysia's
behalf when he visits New York during his current tour, said it
was important there should not be a long 'interregnum' between
the old agreement lapsing in October and the new one coming
into force.
He described the present accord as a model for commodity
agreements due to its being signed by nearly all producing and
consuming countries and by virtue of its review systems and
control over buffer stock management.
|
test/19368 | test/19368 |@title vr:3 vrbb:1 close:1 stock:1 sale:1 acquisition:1 |@word business:3 brokers:1 inc:1 say:2 close:1 sale:1 control:2 interest:1 comon:1 preferred:1 stock:5 vr:3 acquisition:1 corp:1 delaware:1 corporation:1 investment:1 group:1 lead:1 c:1 robin:1 relph:1 london:1 agreement:1 date:1 april:1 28:1 agree:1 sell:1 5:1 008:1 120:1 share:5 common:3 11:2 846:2 10:2 pct:1 cumulative:1 issue:1 3:1 964:1 000:1 prefer:1 remain:1 list:1 within:1 next:1 week:1 day:1 | VR <VRBB.O> CLOSES STOCK SALE TO VR ACQUISITION
VR Business Brokers Inc said it
closed the sale of a controlling interest in its comon and
preferred stock to VR Acquisition Corp, a Delaware corporation
controlled by an investment group led by C. Robin Relph of
London.
Under the agreement dated April 28, VR Business agreed to
sell 5,008,120 shares of common stock and 11,846 shares of 10
pct cumulative stock.
VR Business said it issued 3,964,000 shares of common stock
and 11,846 shares of preferred stock, with the remaining shares
of common to be listed within the next week to 10 days.
|
test/19369 | test/19369 |@title microwave:1 laboratories:1 inc:1 mwav:1 4th:1 qtr:1 net:1 |@word april:1 30:1 end:1 shr:2 12:1 ct:4 vs:8 eight:1 net:2 316:1 655:1 148:1 567:1 sale:2 2:3 011:1 195:1 1:4 422:1 719:1 avg:2 shrs:2 738:1 864:1 881:2 296:2 year:1 43:1 49:1 006:1 356:1 918:1 290:1 7:1 059:1 446:1 5:1 441:1 408:1 329:2 | MICROWAVE LABORATORIES INC <MWAV.O> 4TH QTR NET
April 30 end
Shr 12 cts vs eight cts
Net 316,655 vs 148,567
Sales 2,011,195 vs 1,422,719
Avg shrs 2,738,864 vs 1,881,296
Year
Shr 43 cts vs 49 cts
Net 1,006,356 vs 918,290
Sales 7,059,446 vs 5,441,408
Avg shrs 2,329,329 vs 1,881,296
|
test/19371 | test/19371 |@title world:1 bank:1 loan:1 uganda:1 13:1 mln:1 dlrs:1 |@word world:1 bank:3 say:3 loan:2 uganda:2 13:1 mln:1 dlrs:1 international:1 development:1 association:1 ida:2 concessionary:1 lending:1 affiliate:1 support:1 project:2 hope:1 preserve:1 country:1 natural:1 forest:2 meet:1 demand:1 wood:3 product:1 rehabilitate:2 forestry:1 management:2 agency:1 also:1 plan:1 increase:1 area:1 protect:1 establish:1 pilot:1 farm:1 nursery:1 soft:1 plantation:1 | WORLD BANK LOANS UGANDA 13 MLN DLRS
The World Bank said it has loaned
Uganda 13 mln dlrs through the International Development
Association (IDA), the bank's concessionary lending affiliate.
The IDA loan will support a project that hopes to preserve
the country's natural forests and meet its demand for wood
products by rehabilitating Uganda's forestry management agency,
the bank said.
It also said the project plans to increase the area and
management of protected forests, establish pilot wood farms and
nurseries, and rehabilitate soft wood plantations.
|
test/19373 | test/19373 |@title fairly:1 hectic:1 week:1 raw:1 sugar:1 woodhouse:1 say:1 |@word fairly:1 hectic:1 trading:2 week:4 raw:5 sugar:2 china:2 pay:1 market:3 level:2 nearby:3 shipment:2 london:1 trader:1 woodhouse:2 drake:1 carey:1 say:4 weekly:1 report:1 july:5 thai:1 trade:3 early:1 fob:1 equivalent:1 20:1 25:1 point:5 discount:3 new:3 york:3 future:1 mid:1 see:2 sale:1 cover:1 10:1 15:3 enquiry:1 sep:1 filter:1 value:1 rise:1 quickly:1 13:1 premium:1 18:1 western:1 hemisphere:1 dominican:1 republic:1 mexican:1 bid:1 offer:1 five:1 limited:1 action:1 past:1 far:1 east:1 whereas:1 white:1 little:1 fresh:1 prospect:1 offtake:1 whitehouse:1 add:1 | FAIRLY HECTIC WEEK IN RAW SUGAR, WOODHOUSE SAYS
It has been a fairly hectic trading week
in raw sugar with China paying market levels for nearby
shipments, London trader, Woodhouse, Drake and Carey, said in
its weekly report.
July shipment Thai raws traded to China early in the week
at fob levels equivalent to 20/25 points discount to July New
York futures, it said. Mid-week saw these same sales covered by
the trade at 10/15 points discount.
Enquiries for July/Sep 15 raw sugars then filtered in and
here again, traded values rose quickly from 13 points premium
to New York July up to 18, Woodhouse said.
In the Western Hemisphere, both Dominican Republic and
Mexican nearby raws were bid 15 points discount to July New
York and offered five points under, but in limited trading, it
said.
All the action of the past week has been in the Far East
raws market whereas the whites market saw little fresh prospect
of nearby offtake, Whitehouse added.
|
test/19374 | test/19374 |@title passport:1 travel:1 inc:1 ppti:1 2nd:1 qtr:1 may:1 31:1 net:1 |@word shr:2 profit:4 six:2 ct:4 vs:6 loss:4 one:2 net:2 80:1 939:1 12:2 808:1 rev:2 7:1 0:1 mln:4 6:1 3:1 month:1 eight:1 101:1 345:1 10:1 460:1 13:1 2:1 5:1 | PASSPORT TRAVEL INC <PPTI.O> 2ND QTR MAY 31 NET
Shr profit six cts vs loss one ct
Net profit 80,939 vs loss 12,808
Rev 7.0 mln vs 6.3 mln
Six months
Shr profit eight cts vs loss one ct
Net profit 101,345 vs loss 10,460
Rev 13.2 mln vs 12.5 mln
|
test/19375 | test/19375 |@title savoy:1 industries:1 inc:1 savo:1 1st:1 qtr:1 loss:1 |@word oper:2 shr:1 loss:5 32:1 ct:3 vs:4 17:1 net:1 2:1 999:1 000:5 1:1 692:1 sale:1 10:1 3:2 mln:2 11:1 5:1 avg:1 shrs:1 9:2 517:1 905:1 note:1 1986:1 operate:1 exclude:1 profit:1 688:1 dlrs:1 37:1 share:1 discontinue:1 operation:1 | SAVOY INDUSTRIES INC <SAVO.O> 1ST QTR LOSS
Oper shr loss 32 cts vs loss 17 cts
Oper net loss 2,999,000 vs loss 1,692,000
Sales 10.3 mln vs 11.5 mln
Avg shrs 9,517,000 vs 9,905,000
NOTE: 1986 Operating loss excludes profit of 3,688,000
dlrs, or 37 cts a share, from discontinued operations
|
test/19377 | test/19377 |@title latin:1 caribbean:1 nation:1 oppose:1 trade:1 bill:1 |@word group:1 latin:3 american:2 caribbean:2 nation:4 formally:1 oppose:2 trade:12 legislation:6 pende:1 congress:2 say:9 would:4 curb:2 export:1 slow:1 development:3 hinder:1 ability:1 repay:1 foreign:3 debt:2 mario:1 rodriguez:6 montero:1 president:2 organization:1 states:3 special:1 committee:2 aware:1 large:4 u:5 deficit:4 add:1 region:2 one:1 affect:2 bill:5 cause:1 strong:1 dollar:1 budget:1 regrettable:1 solve:1 serve:1 private:1 interest:1 make:1 comment:1 news:1 conference:1 two:1 day:1 meeting:1 official:1 design:1 reduce:1 last:2 year:2 hit:1 record:1 166:1 3:1 billion:3 dlrs:3 congressional:1 observer:1 aim:1 mainly:1 japan:2 taiwan:1 south:1 korea:1 annual:1 surplus:3 united:2 mexico:2 brazil:1 venezuela:1 even:1 5:1 2:1 58:1 6:1 european:1 community:1 also:2 back:1 reagan:3 administration:2 opposition:1 many:1 section:1 include:1 import:1 require:1 retaliation:1 unfair:1 practice:1 tell:1 reporter:1 likely:1 mount:2 campaign:1 fight:1 come:1 debate:1 senate:1 floor:1 expect:1 next:1 week:1 need:3 continue:2 hope:1 negatively:1 keep:1 market:2 open:1 especially:1 obtain:1 necessary:1 exchange:1 service:1 national:1 progress:1 veto:3 term:1 protectionist:1 aide:1 effort:1 water:1 objectionable:1 provision:1 ask:1 whether:1 ready:1 cast:1 yet:1 frame:1 mind:1 | LATIN, CARIBBEAN NATIONS OPPOSE TRADE BILLS
A group of Latin American and
Caribbean nations formally opposed trade legislation pending in
Congress, saying it would curb their exports, slow development
and hinder its ability to repay foreign debt.
Mario Rodriguez Montero, president of an Organization of
American States special committee on trade, said he was aware
of the large U.S. trade deficit, but added 'the region should
not be the one affected by the trade bills.'
He said the causes of the deficit were the strong dollar
and the budget deficit, and 'it is regrettable to solve it by a
trade bill that would only serve private U.S. interests.'
Rodriguez made the comment at a news conference after two
days of meetings with U.S. officials on trade bills now in
Congress that are designed to reduce the U.S. trade deficit,
which last year hit a record 166.3 billion dlrs.
Congressional observers say the bills are aimed mainly at
Japan, Taiwan, South Korea and a few other nations with large,
annual trade surpluses with the United States.
Mexico, Brazil and Venezuela are the only Latin nations
with large trade surpluses last year with the United States,
but even Mexico, with the largest, had a surplus of only 5.2
billion dlrs, against Japan's of 58.6 billion dlrs.
The European Community has also opposed the bills.
Rodriguez said the Latin and Caribbean nations backed the
Reagan Administration's opposition to many of the sections in
the legislation, including those to curb imports and to require
retaliation for foreign unfair trade practices.
He told reporters the committee would likely mount a
campaign to fight the legislation when it comes up for debate
on the Senate floor, expected next week.
Rodriguez said 'the region needs trade to continue
development. We hope this need will not be affected negatively
by trade legislation.'
Rodriguez said: 'we need to keep the market opens -
especially the U.S. market - to obtain the necessary foreign
exchange not only to service the debt but also to continue
national development progress.'
President Reagan has said he would veto any legislation he
termed 'protectionist,' and his aides now are mounting a effort
to water down some of the objectionable provisions in the
legislation.
Asked whether Reagan was ready to cast a veto, Rodriguez
said as yet 'the administration is not in a veto frame of mind.'
|
test/19378 | test/19378 |@title reed:1 intl:1 denie:1 bid:1 approach:1 |@word reed:7 international:1 plc:1 l:2 deny:1 rumour:2 u:3 k:2 stock:2 market:2 target:1 takeover:1 bid:6 say:4 receive:2 approach:2 view:1 increase:1 share:3 price:2 today:2 want:1 make:2 clear:1 chairman:1 leslie:1 carpenter:1 statement:1 publisher:1 harcourt:4 brace:1 jovanovich:1 inc:1 hbj:1 may:1 paper:1 printing:2 company:1 push:1 54p:1 600p:1 one:1 stage:1 ease:1 back:1 564p:1 close:1 background:1 widespread:1 decline:1 equity:1 analyst:2 speculator:1 buy:1 belief:1 would:2 effort:1 escape:1 unwelcome:1 two:1 billion:1 dlr:1 robert:1 maxwell:1 british:1 communication:1 corp:1 bpcl:1 move:1 big:1 bpcc:2 take:1 add:1 also:1 speculation:1 unsuccessful:1 could:1 turn:1 attention:1 | REED INTL DENIES BID APPROACH
Reed International Plc <REED.L> denied
rumours on the U.K. Stock market that it was the target of a
takeover bid and said it had received no approach.
'In view of the increase in our share price today, I want to
make clear that we have not received any bid approaches,' Reed's
chairman Leslie Carpenter said in a statement.
Rumours that U.S. Publisher Harcourt Brace Jovanovich Inc
<HBJ> might bid for Reed, a paper and printing company, pushed
Reed shares up 54p at 600p at one stage today before they eased
back to 564p at the close against a background of a widespread
decline in U.K. Equity prices.
Share market analysts said speculators were buying the
stock on belief that Harcourt would bid for Reed in an effort
to escape the unwelcome two billion dlr bid from Robert
Maxwell's British Printing and Communication Corp <BPCL.L>.
Such a move would have made Harcourt too big for BPCC to
take it over, analysts added.
They also said there was some speculation that if BPCC's
bid for Harcourt was unsuccessful, it could turn its attention
to Reed.
|
test/19379 | test/19379 |@title applied:1 data:1 adcc:1 buy:1 dateline:1 |@word applied:1 data:1 communication:1 say:2 agree:1 acquire:1 privately:1 hold:1 dateline:2 technology:2 inc:1 redmond:1 wash:1 undisclosed:1 amount:1 cash:1 stock:1 design:1 sell:1 high:2 capacity:1 speed:1 computer:1 peripheral:1 subsystem:1 primarily:1 datum:2 storage:1 apply:1 | APPLIED DATA <ADCC.O> TO BUY DATELINE
Applied Data Communications said
it agreed to acquire privately-held Dateline Technology Inc of
Redmond, Wash., for an undisclosed amount of cash and stock.
Dateline Technology designs and sells high-capacity,
high-speed computer peripheral subsystems, primarily for data
storage, Applied Data said.
|
test/19380 | test/19380 |@title gulf:1 western:1 gw:1 interest:1 network:1 usa:1 |@word network:7 today:1 say:3 acquire:1 time:2 inc:3 tl:1 one:2 third:2 interest:2 formerly:1 joint:1 venture:1 gulf:2 western:2 mca:3 previously:1 hold:1 jointly:1 usa:3 50:2 basis:1 term:1 disclose:1 advertiser:1 support:1 entertainment:1 basic:1 cable:2 reach:1 39:1 mln:1 home:1 8:1 500:1 system:1 | GULF AND WESTERN <GW> UPS INTEREST IN NETWORK
USA Network, today said it has acquired
Time Inc's <TL> one-third interest in the network.
The network, formerly a joint venture between Time, Gulf
and Western Inc and MCA Inc <MCA>, said that Gulf and Western
and MCA, who each previously held a one-third interest, now
will jointly own USA Network on a 50/50 basis.
Terms were not disclosed, USA Network said.
USA Network is an advertiser-supported, entertainment basic
cable network, reaching 39 mln homes on 8,500 cable systems.
|
test/19381 | test/19381 |@title tektronix:1 tek:1 begin:1 dutch:1 auction:1 tender:1 |@word tektronix:2 inc:1 say:3 begin:1 previously:1 announce:1 dutch:1 auction:1 cash:2 tender:4 offer:3 10:1 mln:2 common:1 share:5 term:1 company:2 select:1 single:1 purchase:1 price:1 stock:1 base:1 number:1 exceed:1 40:1 dlrs:3 per:2 low:1 35:1 also:1 intend:1 spend:1 380:1 state:1 expire:1 july:1 eight:1 unless:1 extend:1 | TEKTRONIX <TEK> BEGINS DUTCH AUCTION TENDER
Tektronix Inc said it began its
previously announced Dutch Auction cash tender offer for up to
10 mln of its own common shares.
Under the terms of the offer the company will select a
single cash purchase price for the stock, based on the number
of shares tendered, not to exceed 40 dlrs per share or be lower
than 35 dlrs per share, Tektronix said.
The company also said it does not intend to spend more than
380 mln dlrs for the shares tendered.
It further stated that the tender offer expires on July
eight, unless extended.
|
test/19383 | test/19383 |@title kay:2 acquire:1 specialty:1 fastener:1 firm:1 |@word kay:3 corp:1 say:3 balfour:1 maclaine:1 international:1 ltd:1 subsidiary:1 sign:1 letter:1 intent:1 acquire:1 certain:1 asset:1 privately:1 distributor:1 specialty:1 fastener:1 13:1 mln:2 dlrs:2 plus:1 management:1 incentive:1 disclose:1 firm:1 annual:1 sale:1 15:1 also:1 pursue:1 private:1 placement:1 debt:1 security:1 number:1 corporate:1 purpose:1 | KAY <KAY> TO ACQUIRE SPECIALTY FASTENER FIRM
Kay Corp said its Balfour, Maclaine
International Ltd subsidiary signed a letter of intent to
acquire certain assets of a privately-owned distributor of
specialty fasteners for about 13 mln dlrs plus management
incentives, which it did not disclose.
Kay said the firm has annual sales of about 15 mln dlrs.
Kay also said it is pursuing private placement of debt
securities for a number of corporate purposes.
|
test/19386 | test/19386 |@title new:1 england:1 critical:1 care:1 necc:1 buy:1 npo:1 |@word new:2 england:2 critical:2 care:2 inc:2 say:2 complete:1 purchase:1 npo:3 therapies:2 salt:1 lake:1 city:1 company:1 therapie:1 president:2 founder:1 kelly:1 mutchie:1 join:1 regional:1 vice:1 cover:1 western:1 united:1 states:1 provide:1 home:1 infusion:1 therapy:1 service:1 | NEW ENGLAND CRITICAL CARE <NECC.O> BUYS NPO
New England Critical Care Inc
said it completed its purchase of NPO Therapies Inc of Salt
Lake City.
The company said that NPO Therapies' president and founder,
Kelly Mutchie, has joined New England Critical Care as regional
vice president covering the western United States.
NPO Therapies provides home infusion therapy services.
|
test/19387 | test/19387 |@title colombia:1 helpful:1 coffee:1 quota:1 uncertain:1 u:2 |@word government:1 trade:4 official:2 responsible:1 coffee:11 policy:1 say:8 prospect:1 accord:1 quota:8 still:2 uncertain:1 despite:1 recent:2 colombian:4 effort:1 bridge:1 difference:1 producer:2 consumer:1 jon:1 rosenbaum:5 assistant:1 u:3 representative:1 back:1 talk:1 colombia:2 produce:1 country:2 accept:1 sort:1 standardized:1 criterion:2 must:1 agree:3 reintroduce:2 one:1 evidently:1 obvious:1 reference:1 brazil:3 negative:1 recently:1 reintroduction:2 stance:1 outlook:1 agreement:2 september:1 international:1 organization:1 meeting:1 hard:1 predict:1 visit:1 bogota:1 hold:1 technical:2 discussion:1 meet:1 jorge:1 cardenas:3 head:1 federation:1 europe:1 leave:1 positive:1 letter:3 respond:1 last:1 month:1 praise:1 try:1 find:1 compromise:1 formula:3 outline:1 several:1 concern:1 detail:1 plan:1 could:1 reach:1 later:1 day:1 comment:1 new:2 calculate:1 ico:1 european:1 roaster:1 trader:1 dutch:1 association:1 chairman:1 frits:1 van:1 horick:1 amsterdam:1 base:1 six:1 year:2 move:1 average:1 would:1 give:1 unchanged:1 export:2 remain:1 current:1 unless:1 objective:1 reflect:1 change:1 market:1 use:1 set:1 limit:1 | COLOMBIA HELPFUL BUT COFFEE QUOTAS UNCERTAIN--U.S.
A U.S. government trade official
responsible for coffee policy said prospects for an accord on
coffee quotas are still uncertain despite recent Colombian
efforts to bridge differences between producers and consumers.
Jon Rosenbaum, an assistant U.S. trade representative just
back from trade talks in Colombia, said most producing
countries now accept some sort of standardized criteria must be
agreed to reintroduce coffee quotas.
'There is one country which evidently still does not,'
Rosenbaum said in an obvious reference to Brazil, which has
been negative recently on a reintroduction of quotas.
Rosenbaum said because of the stance of Brazil the outlook
for an agreement to reintroduce coffee quotas at the September
International Coffee Organization meeting is hard to predict.
He said that during the visit to Bogota he held technical
discussions with Colombian officials.
While he did not meet with Jorge Cardenas, head of the
Colombian coffee producers federation, who was in Europe,
Cardenas left a 'positive letter,' Rosenbaum said.
The Cardenas letter responded to a U.S. letter last month
which praised Colombia for trying to find a compromise formula
for the reintroduction of quotas, but outlined several concerns
with the technical details of the Colombian plan.
Rosenbaum could not be reached later in the day for comment
on a new formula for calculating ICO quotas agreed to by
European coffee roasters and traders.
Dutch coffee trade association chairman Frits van Horick
said in Amsterdam the new formula is based on six year moving
averages and would give Brazil an unchanged export quota for
the remaining to years of the current coffee agreement.
The U.S. has said it will not agree to any coffee quotas
unless 'objective criteria' which reflect recent changes in the
coffee market are used to set export limits.
|
test/19388 | test/19388 |@title ccc:1 credit:1 guarantee:1 el:1 salvador:1 reallocate:1 |@word commodity:1 credit:4 corporation:1 ccc:1 reallocate:1 1:2 3:2 mln:3 dlrs:3 guarantee:4 originally:1 grant:1 cover:1 sale:3 protein:2 meal:2 el:1 salvador:1 may:1 buy:1 rice:2 u:1 agriculture:1 department:3 say:3 action:1 reduce:1 line:3 authorize:1 12:1 7:1 create:1 must:1 register:1 export:1 complete:1 september:1 30:1 | CCC CREDIT GUARANTEES TO EL SALVADOR REALLOCATED
The Commodity Credit Corporation
(CCC) has reallocated 1.3 mln dlrs in credit guarantees
originally granted to cover the sale of protein meals to El
Salvador so it may buy rice, the U.S. Agriculture Department
said.
The action reduces the guarantee line authorized for sales
of protein meals to 12.7 mln dlrs and creates a rice credit
guarantee line of 1.3 mln dlrs, the department said.
All sales under the credit guarantee lines must be
registered and exports completed by September 30, the
department said.
|
test/19397 | test/19397 |@title international:1 lpg:1 price:1 steady:1 quiet:1 market:1 |@word international:1 lpg:2 price:3 little:1 change:1 past:1 week:2 barely:1 affect:1 excitement:1 advent:1 opec:2 mid:1 year:1 meeting:2 trader:4 industry:3 source:2 say:6 decide:1 increase:1 crude:1 oil:2 production:1 supply:1 without:1 correspond:1 rise:1 demand:1 petrochemical:1 buyer:1 sideline:1 foray:1 market:2 early:1 june:1 dublin:1 also:1 draw:1 many:1 participant:1 away:1 trading:1 desk:1 add:1 algeria:1 move:1 least:1 two:2 cargo:1 propane:4 u:2 gulf:3 keep:1 mediterranean:1 steady:1 mideast:2 appear:1 ease:1 slightly:1 major:1 company:1 buy:1 formula:1 net:1 back:1 123:1 dlrs:4 cif:1 saudi:1 arabia:1 government:1 selling:1 gsp:3 deliver:1 japan:1 quote:1 plus:2 19:1 butane:1 25:1 | INTERNATIONAL LPG PRICES STEADY IN QUIET MARKET
International LPG prices were little
changed in the past week, barely affected by the excitement on
the advent of OPEC's mid-year meeting, traders and industry
sources said.
'If the OPEC decides to increase crude oil production,' a
traders said, 'LPG supplies will be up without corresponding
rise in demand.'
Petrochemical buyers were sidelined, after their foray in
the market early in june, they said.
An industry meeting in Dublin this week also drew many
market participants away from the trading desk, they added.
Algeria has moved at least two cargoes of propane to the
U.S. Gulf, keeping Mediterranean prices steady, traders said.
In the Mideast Gulf, propane appeared easing slightly,
after a major U.S. oil company bought propane on formula which
netted back about 123 dlrs, cif Mideast Gulf, which was two
dlrs below Saudi Arabia's government selling price (gsp),
industry sources said.
Delivered propane to Japan was quoted at gsp plus 19 dlrs
and butane at gsp plus 25 dlrs, the traders said.
|
test/19403 | test/19403 |@title kuwait:1 see:1 want:1 lease:1 u:1 tanker:1 |@word united:3 states:3 say:6 kuwait:2 discuss:2 plan:2 lease:1 privately:1 u:4 tanker:4 transport:1 oil:1 gulf:4 addition:1 put:1 vessel:3 american:3 flags:1 state:1 department:1 spokeswoman:1 phyllis:1 oakley:3 make:1 disclosure:1 also:1 tell:2 reporter:1 expect:1 conclude:1 soon:1 favorable:1 arrangement:3 saudi:2 arabia:2 concern:2 expand:1 security:2 cooperation:2 two:1 development:1 occur:1 reagan:1 administration:3 continue:1 come:1 fire:1 congress:1 bring:1 11:1 kuwaiti:1 flag:3 move:2 design:1 protect:2 iranian:1 attack:1 ensure:1 freedom:1 navigation:1 strategic:1 waterway:1 raise:1 fear:1 capitol:1 hill:1 draw:1 seven:1 year:1 old:1 iran:1 iraq:1 war:1 kuwaitis:2 possibility:2 charter:4 maritime:1 emphasize:1 however:1 could:1 work:2 would:3 supplant:1 reflagge:1 case:1 ship:1 eligible:1 navy:1 escort:1 washington:1 post:1 today:1 quote:1 john:1 gaughan:2 administrator:1 martime:1 approach:1 shipping:1 company:2 earlier:1 week:1 representative:1 whose:1 identify:1 know:1 fly:1 newspaper:1 report:1 forward:1 talk:1 tailor:1 effort:1 facilitate:1 operation:1 | KUWAIT SEEN WANTING TO LEASE SOME U.S. TANKERS
The United States said Kuwait was
discussing plans to lease privately-owned U.S. tankers to
transport oil through the Gulf in addition to putting some of
its own vessels under American flags.
State Department spokeswoman Phyllis Oakley, who made the
disclosure about the tankers, also told reporters the United
States expects to conclude very soon a favorable arrangement
with Saudi Arabia concerning expanded security cooperation in
the Gulf. The two developments occur as the Reagan
administration continued to come under fire in Congress for its
plans to bring 11 Kuwaiti tankers under American flags.
The move is designed to protect the tankers from Iranian
attacks and ensure freedom of navigation in the strategic
waterway but has raised fears on Capitol Hill that it will draw
the United States into the seven-year-old Iran-Iraq War.
'The Kuwaitis have discussed the possibility of chartering
U.S. flag vessels with the Maritime Administration,' Oakley
said. She emphasized, however, that 'if some charter arrangement
could be worked out, it would not supplant the reflagging
arrangement that we worked out with the Kuwaitis.'
In both cases, the ships would be eligible for U.S. Navy
escort in the Gulf, she said.
The Washington Post today quoted John Gaughan, administrator
of the Martime Administration, as saying Kuwait has approached
an American shipping company about the possibility of a
charter.
Gaughan said that earlier this week he told representatives
of the company, whose identify he did not know, that chartered
vessels flying the U.S. flag 'would be protected,' the newspaper
reported.
Concerning Saudi Arabia, Oakley said 'we are moving forward
in our talks ... on how we can tailor our efforts and security
cooperation to facilitate our Gulf operations.'
|
test/19406 | test/19406 |@title dayton:1 hudson:1 say:1 tell:1 buyer:1 stock:1 |@word interested:2 acquire:2 dayton:1 hudson:1 say:1 tell:1 buyer:1 stock:1 | DAYTON HUDSON SAID IT TOLD BUYER OF STOCK IT's not
INTERESTED IN BEING ACQUIRED
DAYTON HUDSON SAID IT TOLD BUYER OF STOCK IT's not
INTERESTED IN BEING ACQUIRED
|
test/19409 | test/19409 |@title pacific:1 basin:1 acquire:1 51:1 pct:1 e:1 |@word pacific:4 basin:1 development:1 corp:3 base:1 vancouver:1 british:1 columbia:1 say:3 reach:1 agreement:1 buy:2 51:1 pct:1 e:3 marketing:1 arm:1 4:1 2:1 mln:4 u:1 dlrs:4 also:1 expect:2 ot:1 earn:2 three:1 canadian:3 year:3 end:2 june:2 30:1 1988:1 10:1 1989:1 former:1 signetics:1 unit:1 assemble:1 integrate:1 circuit:1 southeast:1 asia:1 assembl:1 80:1 per:1 acquisition:1 complete:1 | PACIFIC BASIN TO ACQUIRE 51 PCT OF T.E.A.M.
<Pacific Basin Development Corp>, based
in Vancouver, British Columbia, said it reached an agreement to
buy 51 pct of T.E.A.M. Pacific Corp and its marketing arm for
4.2 mln U.S. dlrs.
Pacific also said it expects ot earn three mln Canadian
dlrs for the year ended June 30, 1988 and 10 mln Canadian dlrs
for the year ended June 1989.
T.E.A.M., a former Signetics Corp unit, assembles
integrated circuits in Southeast Asia and is itself buying an
assembler. Pacific said T.E.A.M. expects to earn over 80 mln
Canadian dlrs per year when the acquisition is completed.
|
test/19410 | test/19410 |@title andersen:1 group:1 inc:1 andr:1 1st:1 qtr:1 may:1 31:1 |@word may:1 31:1 shr:1 loss:4 13:1 ct:2 vs:4 4:2 net:1 225:1 000:2 80:1 revs:1 11:1 8:1 mln:2 10:1 avg:1 shrs:1 1:2 789:2 165:1 455:1 | ANDERSEN GROUP INC <ANDR.O> 1ST QTR MAY 31
May 31
Shr loss 13 cts vs loss 4 cts
Net loss 225,000 vs loss 80,000
Revs 11.8 mln vs 10.4 mln
Avg shrs 1,789,165 vs 1,789,455
|
test/19411 | test/19411 |@title dayton:1 hudson:1 dh:1 interested:1 acquisition:1 |@word dayton:7 hudson:7 corp:2 letter:3 employee:1 say:7 tell:1 aggressive:1 buyer:2 company:6 stock:4 want:1 acquire:1 spokeswoman:1 would:4 identify:1 wall:2 street:2 source:2 dart:2 group:3 darta:1 interested:1 buy:2 expect:2 soon:1 file:1 statement:1 securities:1 exchange:1 commission:1 accumulation:1 accord:2 employess:1 management:1 move:1 two:1 direction:1 fend:1 takeover:2 chairman:1 kenneth:1 macke:1 express:1 desire:1 remain:1 independent:1 thursday:1 night:1 meet:1 minnesota:2 governor:3 rudy:1 perpich:2 appeal:1 legislative:1 help:2 spokesman:1 earlier:1 later:1 today:1 recommend:1 stiffen:1 state:1 anti:1 law:2 minneopolis:1 retailer:1 defend:1 house:1 speaker:1 designate:1 legislator:1 probably:2 look:1 language:1 similar:1 contain:1 indiana:1 new:1 york:1 amendment:1 propose:1 design:1 thwart:1 dismantle:1 profit:1 obviously:1 people:1 feel:1 whatever:1 statute:1 protect:1 enough:1 vanasek:1 | DAYTON HUDSON <DH> NOT INTERESTED IN ACQUISITION
Dayton Hudson Corp, in a
letter to employees, said it told an 'aggressive buyer' of the
company's stock that it does not want to be acquired.
A Dayton Hudson spokeswoman would not identify the buyer,
but Wall Street sources said Dart Group Corp <DARTA.O> was the
company interested in buying Dayton Hudson stock.
The Wall Street sources said the Dart Group is expected
soon to file a statement with the Securities and Exchange
Commission on its accumulation of Dayton Hudson stock.
According to the letter to company employess, Dayton Hudson
management has moved in two directions to fend off a takeover.
According to the letter, chairman Kenneth Macke expressed to
the group buying its stock the company's desire to remain
independent.
Dayton Hudson Thursday night met with Minnesota governor
Rudy Perpich, appealing for legislative help.
A spokesman for Governor Perpich earlier said the governor
is expected later today to recommend stiffening the state's
anti-takeover law to help the Minneopolis retailer defend
itself.
Minnesota House speaker designate said the legislators
would probably look at language similar to that contained in
Indiana and New York law. He said any amendment proposed would
probably be designed to thwart a company from dismantling a
company for its own profit.
'Obviously Dayton-Hudson people feel whatever statutes we
have would not protect them enough,' Vanasek said.
|
test/19412 | test/19412 |@title barnett:1 banks:1 bbf:1 file:1 federal:1 board:1 |@word barnett:2 banks:1 inc:1 home:3 federal:4 bank:2 florida:1 say:3 file:1 suit:3 loan:2 board:1 saving:1 insurance:1 corp:1 company:1 ask:1 jacksonville:1 fla:1 district:1 court:1 enjoin:1 enforcement:1 interpretive:1 rule:2 adopt:1 fhlbb:1 last:1 year:1 seek:1 give:1 jurisdiction:1 propose:1 acquisition:1 arbitrary:1 capricious:1 | BARNETT BANKS <BBF> FILES AGAINST FEDERAL BOARD
Barnett Banks Inc and Home
Federal Bank of Florida said they filed a suit against the
Federal Home Loan Bank Board and the Federal Savings and Loan
Insurance Corp.
The companies said the suit asks a Jacksonville, Fla.,
federal district court to enjoin the enforcement of an
interpretive rule adopted by the FHLBB last year which seeks to
give it jurisdiction over Barnett's proposed acquisition of
Home.
The suit says this rule is arbitrary and capricious.
|
test/19416 | test/19416 |@title u:2 business:2 loan:2 fall:2 896:2 mln:2 dlrs:2 june:2 10:2 week:2 fed:2 say:2 |@word | U.S. BUSINESS LOANS FALL 896 MLN DLRS IN JUNE 10 WEEK,
FED SAYS
U.S. BUSINESS LOANS FALL 896 MLN DLRS IN JUNE 10 WEEK,
FED SAYS
|
test/19418 | test/19418 |@title u:1 business:1 loan:1 fall:1 896:1 mln:1 dlrs:1 |@word business:2 loan:2 book:1 major:1 u:1 bank:1 exclude:1 acceptance:2 fall:2 896:1 mln:2 dlrs:3 275:1 61:1 billion:2 week:1 end:1 june:1 10:1 federal:1 reserve:1 board:1 say:2 fed:1 include:1 546:1 278:1 12:1 | U.S. BUSINESS LOANS FELL 896 MLN DLRS
Business loans on the books of major
U.S. banks, excluding acceptances, fell 896 mln dlrs to 275.61
billion in the week ended June 10, the Federal Reserve Board
said.
The Fed said that business loans including acceptances fell
546 mln dlrs to 278.12 billion dlrs.
|
test/19419 | test/19419 |@title judge:1 rule:1 monday:1 burlington:1 bur:1 case:1 |@word manhattan:1 federal:1 court:1 judge:1 shirley:1 wohl:1 kram:1 say:1 would:1 rule:1 monday:1 whether:1 grant:1 request:2 block:1 78:1 dlr:2 per:2 share:2 merger:2 agreement:1 burlington:2 industries:1 inc:3 morgan:1 stanely:1 group:1 ms:1 bar:1 make:2 samjens:2 acquisition:1 corp:1 partnership:1 form:1 financier:1 asher:1 b:1 edelman:1 dominion:1 textiles:1 hostile:1 77:1 takeover:1 bid:1 | JUDGE TO RULE MONDAY ON BURLINGTON <BUR> CASE
Manhattan Federal Court Judge Shirley
Wohl Kram said she would rule Monday on whether to grant a
request to block a 78 dlr per share merger agreement between
Burlington Industries Inc and Morgan Stanely Group Inc <MS>.
The request to bar the merger was made by Samjens
Acquisition Corp, a partnership formed by financier Asher B.
Edelman and Dominion Textiles Inc. Samjens has made a hostile
77 dlr per share takeover bid for Burlington.
|
test/19420 | test/19420 |@title k:2 g:2 saur:1 sell:1 asset:1 reed:1 international:1 |@word saur:4 german:1 base:1 publisher:1 database:1 legal:1 bilbiographic:1 reference:1 material:1 say:2 sell:1 asset:1 butterworth:1 group:1 division:1 reed:2 international:1 plc:1 l:1 15:1 mln:1 dlrs:1 klaus:1 president:2 owner:1 company:1 remain:1 operation:1 munich:1 london:1 new:1 york:1 | <K.G. SAUR> SELLS ASSETS TO REED INTERNATIONAL
K.G. Saur, the German-based publisher
of databases and legal and bilbiographic reference material,
said it has sold all of its assets to The Butterworth Group, a
division of Reed International PLC <REED.L>, for under 15 mln
dlrs.
Saur said Klaus Saur, president and owner of the company,
will remain president of Saur operations in Munich, London and
New York.
|
test/19422 | test/19422 |@title ael:1 industries:1 inc:1 aelna:1 first:1 qtr:1 net:1 |@word shr:1 10:1 ct:2 vs:3 four:1 net:1 419:1 000:2 dlrs:4 196:1 rev:1 27:1 3:1 mln:2 25:1 9:1 note:1 first:1 quarter:1 end:1 may:1 29:1 | AEL INDUSTRIES INC <AELNA.O> FIRST QTR NET
Shr 10 cts vs four cts
Net 419,000 dlrs vs 196,000 dlrs
Revs 27.3 mln dlrs vs 25.9 mln dlrs
Note:the first quarter ended May 29
|
test/19424 | test/19424 |@title national:1 video:1 inc:1 nvis:1 year:1 net:1 |@word shr:1 four:1 ct:2 vs:3 nine:1 net:1 125:1 465:1 dlrs:4 245:1 718:1 rev:1 8:2 4:1 mln:2 7:1 note:1 fiscal:1 year:1 end:1 march:1 31:1 | NATIONAL VIDEO INC <NVIS.O> YEAR NET
Shr four cts vs nine cts
Net 125,465 dlrs vs 245,718 dlrs
Revs 8.4 mln dlrs vs 7.8 mln dlrs
Note:the fiscal year ended March 31
|
test/19426 | test/19426 |@title archer:1 daniels:1 adm:1 deny:1 rumor:1 |@word archer:2 daniels:2 midland:2 co:1 deny:1 report:2 interested:1 acquire:1 international:3 mineral:3 chemical:1 corp:1 igl:1 interest:1 division:1 spokesman:1 tell:1 reuters:1 conversation:1 usa:1 today:1 may:1 seek:1 hostile:1 takeover:1 | ARCHER-DANIELS <ADM> DENIES RUMOR
Archer-Daniels-Midland Co denied a
report that it is interested in acquiring International
Minerals and Chemical Corp (IGL).
'We have no interest in International Minerals or any of
its divisions,' a spokesman told Reuters. 'We've had no
conversations with them.'
USA Today reported that Archer-Daniels-Midland might be
seeking a hostile takeover of International Minerals.
|
test/19427 | test/19427 |@title kaufel:1 group:1 ltd:1 kgl:1 3rd:1 qtr:1 net:1 |@word shr:2 15:2 ct:4 vs:7 10:2 net:2 1:2 790:1 824:1 031:1 602:1 revs:1 14:1 0:2 mln:6 6:1 7:1 nine:1 mth:1 41:1 23:1 4:2 830:1 513:1 2:1 296:1 192:1 rev:1 40:1 5:2 avg:1 shrs:1 12:1 | KAUFEL GROUP LTD (KGL.M) 3RD QTR NET
Shr 15 cts vs 10 cts
Net 1,790,824 vs 1,031,602
Revs 14.0 mln vs 6.7 mln
Nine mths
Shr 41 cts vs 23 cts
Net 4,830,513 vs 2,296,192
Revs 40.5 mln vs 15.4 mln
Avg shrs 12.0 mln vs 10.5 mln
|
test/19428 | test/19428 |@title group:1 cut:1 zondervan:1 zond:1 stake:1 3:1 8:1 pct:1 |@word one:2 several:1 investor:3 group:8 formerly:1 associate:1 london:1 christopher:1 moran:4 unsuccessful:2 bid:1 take:1 zondervan:3 corp:2 last:4 year:2 say:5 cut:2 stake:5 company:2 less:1 five:1 pct:7 filing:2 securities:1 exchange:1 commission:1 lead:3 lawrence:1 altschul:1 james:1 apostolakis:1 157:1 500:2 share:4 3:1 8:2 total:1 246:1 5:2 9:2 earlier:1 month:2 sec:2 file:1 want:2 join:2 maximize:1 value:1 sell:1 89:1 000:1 june:1 15:1 1:1 mln:1 dlrs:1 assemble:1 combined:1 44:1 takeover:2 try:1 break:1 splinter:1 various:1 faction:1 withdraw:1 effort:1 report:1 personal:1 4:1 miwok:1 capital:1 california:1 broker:1 10:1 6:2 another:1 minneapolis:1 stockbroker:1 jeffrey:1 wendel:1 2:1 make:1 recent:1 seek:2 agreement:1 party:1 may:1 control:1 | GROUP CUTS ZONDERVAN<ZOND.O> STAKE TO 3.8 PCT
One of several investor groups
formerly associated with London investor Christopher Moran in
his unsuccessful bid to take over Zondervan Corp last year,
said it cut its stake in the company to less than five pct.
In a filing with the Securities and Exchange Commission,
the group, led by investors Lawrence Altschul and James
Apostolakis, said it cut its Zondervan stake to 157,500 shares,
or 3.8 pct of the total, from 246,500 shares, or 5.9 pct.
The group, which earlier this month said in an SEC filing
it wanted join with other groups to maximize share values, said
it sold 89,000 shares between June 9 and 15 for 1.5 mln dlrs.
The group had joined with the Moran group, which last year
assembled a combined 44 pct stake in Zondervan during its
unsuccessful takeover try.
Last month, the Moran group broke up and splintered into
various factions. Moran himself withdrew from the takeover
effort and last reported his personal stake at 4.8 pct.
A group led by Miwok Capital Corp, a California broker with
a 10.6 pct stake, and another one led by Minneapolis
stockbroker Jeffrey Wendel with 2.6 pct, have both made recent
SEC filings saying they are seeking agreements with other
parties who may want to seek control of the company.
|
test/19431 | test/19431 |@title noranda:1 brunswick:1 miner:1 vote:1 monday:1 contract:1 |@word noranda:2 inc:1 say:2 1:2 100:1 unionized:2 worker:2 63:1 pct:3 brunswick:4 mining:1 smelter:3 corp:1 lead:4 zinc:4 mine:3 new:1 would:2 start:1 vote:2 monday:1 tentative:1 contract:3 pact:1 company:1 official:1 andre:1 fortier:2 hopeful:1 settle:1 without:1 kind:1 work:1 interruption:1 add:1 estimate:1 500:1 currently:1 meet:1 proposal:1 probably:1 next:1 week:1 expire:1 july:2 21:1 produce:2 413:1 800:1 tonne:4 206:1 000:3 last:1 year:1 recovery:1 rate:1 70:1 5:1 55:1 6:1 concentrate:1 238:1 81:1 | NORANDA BRUNSWICK MINERS VOTE MONDAY ON CONTRACT
Noranda Inc said 1,100 unionized workers
at its 63 pct-owned Brunswick Mining and Smelter Corp lead-zinc
mine in New Brunswick would start voting Monday on a tentative
contract pact.
Company official Andre Fortier said 'We are hopeful that we
can settle without any kind of work interruption.'
Fortier added that Brunswick's estimated 500 unionized
smelter workers were currently meeting about a Noranda contract
proposal and would probably vote next week. The mine's contract
expires July 1 and the smelter's on July 21.
The Brunswick mine produced 413,800 tonnes of zinc and
206,000 tonnes of lead last year at a recovery rate of 70.5 pct
zinc and 55.6 pct lead. Concentrates produced were 238,000
tonnes of zinc and 81,000 tonnes of lead.
|
test/19432 | test/19432 |@title new:1 leader:1 come:1 u:1 sec:1 challenge:1 era:1 |@word president:5 reagan:2 nominee:1 top:3 policeman:1 nation:2 security:8 market:6 inherit:1 agency:13 challenge:1 insider:4 trading:10 scandal:2 wild:1 stock:4 price:3 gyration:2 host:1 uncertainty:1 stem:1 globalization:1 financial:3 david:1 ruder:2 58:1 year:8 old:1 republican:1 law:3 professor:1 northwestern:1 university:1 evanston:1 ill:1 name:2 thursday:1 23rd:1 chairman:7 five:3 member:1 u:6 securities:1 exchange:4 commission:2 confirm:1 senate:1 expect:1 succeed:1 john:2 shad:4 leave:2 earlier:2 week:1 record:2 six:1 become:2 ambassador:1 netherlands:1 sec:8 limelight:1 past:2 investigator:2 probe:2 colossal:1 ever:1 uncover:1 wall:3 street:3 investigation:1 still:1 active:1 mushroom:1 recent:1 month:1 grow:1 number:1 well:1 know:1 trader:1 prominent:1 investment:7 banking:2 firm:4 charge:3 wrongdoe:1 pace:1 pick:1 markedly:1 november:1 ivan:1 boesky:1 one:2 successful:1 speculator:1 agree:1 cooperate:1 government:2 pay:1 100:1 mln:2 dlrs:2 penalty:1 illegal:1 profit:1 also:3 wrestle:1 vex:1 new:5 phenomenon:1 huge:1 rapid:1 swing:1 spur:2 computer:1 drive:1 strategy:1 span:1 option:1 future:1 combine:1 rise:1 volume:1 bring:2 unprecedented:1 volatility:1 time:2 press:1 lawmaker:1 put:1 stop:1 abusive:1 tactic:1 corporate:4 takeover:4 contest:1 unrelenting:1 wave:1 steadily:1 reshape:1 landscape:1 push:1 foreign:1 intent:1 expansion:1 lay:1 regulatory:2 groundwork:1 international:1 marketplace:2 occur:1 across:1 border:1 throughout:1 world:1 around:1 clock:1 worldwide:1 network:1 offer:1 vast:1 opportunity:1 could:1 strain:1 ability:1 enforce:1 guard:1 investor:3 fraud:1 leadership:1 ease:1 disclosure:1 requirement:1 publicly:1 trade:1 company:3 eliminate:1 many:1 minor:1 protection:2 rule:2 attempt:2 competition:1 among:1 streamline:1 review:1 hostile:1 vice:1 e:1 f:1 hutton:1 perspective:1 upon:1 1981:1 line:1 view:1 administration:2 official:2 favor:1 determination:1 battle:1 federal:1 regulation:1 stress:1 prosecution:1 violation:1 wrongdoing:1 case:1 enforcement:2 agenda:1 jimmy:1 carter:1 democrat:1 lawyer:2 industry:1 acquaint:1 say:1 designate:1 unlikely:1 significantly:2 alter:1 current:1 priority:1 currently:1 2:1 000:1 employee:1 annual:1 budget:2 115:1 though:1 figure:1 likely:1 high:1 next:1 move:1 beef:1 staff:1 actually:1 take:1 money:1 spend:1 fee:1 public:2 bank:2 regulate:2 structure:1 independent:1 meaning:1 commissioner:2 appoint:1 fix:1 term:2 protect:1 fire:1 policy:1 difference:1 alone:1 three:1 may:1 political:1 party:1 prepare:1 request:1 instead:1 white:1 house:1 establish:1 congress:1 1934:1 trace:1 origin:1 great:1 crash:1 1929:1 attribute:1 large:2 part:1 widespread:1 credit:1 manipulation:1 require:2 vehicle:1 mutual:1 fund:1 issue:2 periodic:1 report:1 condition:2 disclose:1 change:1 broker:1 dealer:1 register:1 comply:1 police:1 practice:1 first:2 joseph:1 kennedy:2 industrial:1 magnate:1 father:1 later:1 35th:1 former:1 include:1 william:2 douglas:1 serve:2 1937:1 appointment:1 supreme:1 court:1 1939:1 casey:1 nixon:1 director:1 central:1 intelligence:1 death:1 | NEW LEADER COMING TO U.S. SEC IN CHALLENGING ERA
President Reagan's nominee as top
policeman for the nation's securities markets will inherit an
agency challenged by an insider trading scandal, wild stock
price gyrations and a host of uncertainties stemming from the
globalization of financial markets.
David Ruder, a 58-year-old Republican law professor at
Northwestern University in Evanston, Ill., was named Thursday
to be the 23rd chairman of the five-member U.S. Securities and
Exchange Commission.
If confirmed by the Senate, as expected, he will succeed
John Shad, who left the agency earlier this week after a record
six years as chairman to become ambassador to the Netherlands.
The SEC has been in the limelight for the past year as its
investigators have probed into the most colossal insider
trading scandal ever uncovered on Wall Street.
The investigation, which is still active, mushroomed in
recent months as a growing number of well known traders and
prominent investment banking firms have been charged with
wrongdoing.
The pace of the probe picked up markedly in November after
Ivan Boesky, one of Wall Street's most successful stock
speculators, agreed to cooperate with government investigators
and to pay a record 100 mln dlrs in penalties and illegal
profits after being charged with insider trading.
But the agency is also wrestling with a vexing new
phenomenon of huge and rapid swings in stock prices, spurred by
computer-driven trading strategies that span markets in
securities, options and futures. The price gyrations have
combined with rising trading volumes to bring unprecedented
volatility to some U.S. securities markets.
At the same time, the SEC is being pressed by some
lawmakers to put a stop to abusive tactics in corporate
takeover contests as an unrelenting wave of such takeovers
steadily reshapes the U.S. corporate landscape.
And the agency is being pushed by U.S. and foreign
exchanges intent on expansion to lay the regulatory groundwork
for an international securities marketplace in which trading
occurs across borders throughout the world, around the clock.
Such worldwide trading networks offer vast new investment
opportunities but could strain the SEC's ability to enforce
U.S. securities laws and guard investors from fraud.
Under the leadership of Shad, the SEC eased financial
disclosure requirements for publicly traded companies,
eliminated many minor investor protection rules, attempted to
spur competition among exchanges and streamlined the agency's
review of hostile corporate takeovers.
Shad, who had been vice chairman of the E. F. Hutton
investment banking firm, brought a Wall Street perspective to
the agency upon being named chairman in 1981.
In line with the views of other top administration
officials, he favored marketplace determination of takeover
battles over new federal regulations.
The SEC under Shad also stressed prosecution of insider
trading violations over the corporate wrongdoing cases that
topped the agency's enforcement agenda during the
administration of President Jimmy Carter, a Democrat.
Securities lawyers and industry officials acquainted with
Ruder say the new chairman-designate is unlikely to
significantly alter the commission's current priorities.
The SEC currently has about 2,000 employees, most of them
lawyers, and an annual budget of about 115 mln dlrs though that
figure likely will be significantly higher next year as the
agency moves to beef up its enforcement staff.
The agency is one of the few in the government that
actually has taken in more money than it has spent in the past
few years because of fees it charges public companies,
investment banks and other securities firms it regulates.
The SEC is structured as an independent regulatory agency,
meaning that its five commissioners are appointed by the
president to fixed five-year terms and protected from firing
for policy differences alone.
By law, no more than three commissioners may be of the same
political party, and the agency prepares its own budget request
each year instead of leaving this to the White House.
Established by Congress in 1934, the SEC traces its origins
to the great stock market crash of 1929, which was attributed
in large part to widespread trading on credit and attempted
market manipulations by large investment firms.
The agency requires public companies and investment
vehicles such as mutual funds to issue periodic reports on
their financial condition and to disclose changes in their
condition any time they issue new securities.
It requires brokers, dealers and investment banks to
register with it and comply with investor protection rules, and
it polices exchanges and regulates trading practices.
Its first chairman was Joseph Kennedy, an industrial
magnate who was also the father of John Kennedy, later to
become the nation's 35th president.
Other former chairmen include William Douglas, who served
from 1937 until his appointment to the U.S. Supreme Court in
1939, and William Casey, who served during President Nixon's
first term and was Reagan's director of the Central
Intelligence Agency until his death earlier this year.
|
test/19433 | test/19433 |@title u:1 ask:1 congress:1 revise:1 tariff:1 category:1 |@word administration:1 ask:1 congress:1 replace:1 u:2 tariff:5 schedule:5 new:7 system:9 bring:2 line:1 international:1 category:2 trade:3 representative:1 clayton:1 yeutter:4 say:6 add:1 item:2 fiber:1 optic:1 accurately:1 define:1 composite:1 widely:1 current:1 devise:1 30:1 year:2 ago:1 harmonize:1 call:1 change:1 definition:1 meet:1 present:1 day:1 need:1 exporter:2 importer:1 pay:1 rate:1 duty:1 american:1 find:1 far:1 easy:1 deal:1 one:1 standardize:1 worldwide:1 variety:1 differ:1 face:1 end:1 12:1 multinational:1 negotiation:1 create:1 unified:1 government:1 business:1 move:1 base:1 datum:1 improve:1 knowledge:1 flow:1 quality:1 decision:1 making:1 56:1 nation:1 pledge:1 standard:1 half:1 expect:1 join:1 january:1 1988:1 | U.S. ASKS CONGRESS TO REVISE TARIFF CATEGORIES
The Administration asked Congress to
replace the U.S. tariff schedule with a new system to bring it
into line with international tariff categories, U.S. Trade
Representative Clayton Yeutter said.
The new system will add such items as fiber optics and more
accurately define new composites, items not widely traded when
the current schedule was devised some 30 years ago.
Yeutter said the Harmonized System, as the new schedule is
called, will change tariff categories and definitions to meet
the present-day needs of exporters and importers, but they
should pay about the same rates of duties.
Yeutter said, 'American exporters will find it far easier to
deal with one standardized worldwide system than the variety of
differing systems which they now face.'
He said the new system ended 12 years of multinational
negotiations to create the unified tariff schedule.
Yeutter said government and business moves are based on
data from tariff schedules and the new system will improve
knowledge of trade flows and the quality of decision-making.
He said 56 nations pledged to bring their standards under
the new system, with about half expected to join the system by
January 1988.
|
test/19435 | test/19435 |@title service:1 resources:1 src:1 unit:1 cut:1 sorg:1 srg:1 stake:1 |@word group:2 lead:1 chas:1 p:1 young:2 co:1 subsidiary:1 service:1 resources:1 corp:1 say:2 cut:1 stake:1 sorg:2 inc:1 366:1 700:1 share:4 16:2 7:1 pct:2 total:1 outstanding:1 common:2 stock:1 385:1 000:1 17:2 5:1 filing:1 securities:1 exchange:1 commission:1 yesterday:1 withdraw:1 23:1 dlr:1 takeover:1 proposal:1 member:1 sdi:1 partners:1 ltd:1 partnership:1 sell:1 18:2 300:1 june:1 1:1 2:1 19:1 dlrs:1 | SERVICE RESOURCES<SRC> UNIT CUTS SORG<SRG> STAKE
A group led by Chas. P. Young Co, a
subsidiary of Service Resources Corp, said it cut its stake in
Sorg Inc to 366,700 shares, or 16.7 pct of the total
outstanding common stock, from 385,000 shares, or 17.5 pct.
In a filing with the Securities and Exchange Commission,
Young, which yesterday withdrew its 23 dlr a share takeover
proposal, said its other group member, SDI Partners Ltd
Partnership, sold 18,300 Sorg common shares between June 16 and
18 at 17-1/2 to 19 dlrs each.
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.