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test/21360 | test/21360 |@title woburn:1 five:1 cent:1 saving:1 wobs:1 1st:1 qtr:1 net:1 |@word shr:1 24:1 ct:2 vs:5 26:1 net:1 959:1 000:2 1:1 033:1 asset:1 273:1 6:2 mln:6 236:1 3:2 deposit:1 183:1 173:1 9:2 loan:1 133:1 104:1 note:1 full:1 name:1 company:1 woburn:1 five:1 cent:1 saving:1 bank:1 | WOBURN FIVE CENTS SAVINGS <WOBS.O> 1ST QTR NET
Shr 24 cts vs 26 cts
Net 959,000 vs 1,033,000
Assets 273.6 mln vs 236.3 mln
Deposits 183.6 mln vs 173.9 mln
Loans 133.3 mln vs 104.9 mln
NOTE: Full name of company is Woburn Five Cents Savings
Bank.
|
test/21362 | test/21362 |@title first:1 federal:1 savings:1 fcht:1 1st:1 qtr:1 net:1 |@word shr:1 59:1 ct:3 qtly:1 div:1 eight:2 vs:5 prior:1 net:1 1:2 675:1 000:2 302:1 asset:1 613:1 3:1 mln:6 603:1 5:2 deposit:1 523:1 7:1 517:1 8:1 loan:2 469:1 2:1 449:1 note:1 1986:2 per:1 share:1 figure:1 available:1 bank:1 convert:1 stock:1 ownership:1 dec:2 18:1 dividend:1 payable:1 11:1 shareholder:1 record:1 nov:1 13:1 full:1 name:1 company:1 first:1 federal:1 saving:1 association:1 chattanooga:1 | FIRST FEDERAL SAVINGS <FCHT.O> 1ST QTR NET
Shr 59 cts
Qtly div eight cts vs eight cts prior
Net 1,675,000 vs 1,302,000
Assets 613.3 mln vs 603.5 mln
Deposits 523.7 mln vs 517.8 mln
Loans 469.2 mln vs 449.5 mln
NOTE: 1986 per share figures not available because bank
converted to stock ownership Dec 18, 1986. Dividend payable Dec
11 to shareholders of record Nov 13. Full name of company is
First Federal Savings and Loan Association of Chattanooga.
|
test/21363 | test/21363 |@title coastal:1 cgp:1 raise:1 oil:1 post:1 price:1 |@word coastal:1 corp:1 say:2 effective:1 october:1 16:1 raise:1 post:1 price:2 crude:1 oil:2 50:2 ct:2 barrel:5 increase:3 bring:2 west:2 texas:2 intermediate:1 9:1 00:2 dlrs:3 sour:1 18:1 10:1 sun:2 co:1 announce:1 would:1 make:1 late:1 friday:1 wti:1 19:1 trader:1 company:1 could:1 expect:1 | COASTAL <CGP> RAISES OIL POSTED PRICES
Coastal Corp said that effective October
16 it had raised posted prices for crude oil by 50 cts a
barrel.
The increase brings West Texas Intermediate to 9.00 dlrs a
barrel and West Texas Sour to 18.10 dlrs a barrel.
Sun Co <SUN> announced that it would make a 50 cts a barrel
increase late Friday bringing WTI to 19.00 dlrs a barrel and
traders said that other oil companies could be expected to
increase prices.
|
test/21367 | test/21367 |@title study:1 say:1 pork:1 lean:1 usda:1 figure:1 show:1 |@word iowa:2 state:1 university:1 study:5 show:1 pork:5 contain:2 considerably:1 less:3 fat:6 indicate:2 long:2 establish:2 u:1 department:1 agriculture:1 statistic:2 national:1 producers:1 council:1 nppc:5 say:5 six:2 seven:2 muscle:2 cut:1 evaluate:3 average:1 4:1 3:3 pct:5 well:2 american:1 heart:1 association:1 guideline:1 recommend:1 food:1 eighty:1 raw:1 boneless:2 rib:2 chop:2 meanwhile:1 usda:2 handbook:3 8:2 10:2 use:1 authority:1 nutrient:1 composition:1 content:2 center:1 loin:1 7:2 robin:1 kline:2 dietitian:1 director:1 consumer:1 affair:1 surprised:1 wide:1 discrepancy:1 base:1 certain:1 extent:1 information:1 accumulate:1 past:1 30:2 year:2 reflect:1 hog:1 today:1 50:1 lean:1 20:1 ago:1 thank:1 genetic:1 improvement:1 feeding:1 practice:1 fund:1 producer:2 checkoff:1 money:1 carcass:1 47:1 category:1 0:1 1:1 inch:1 backfat:1 researcher:1 measure:1 cook:2 moisture:1 tenderness:1 | STUDY SAYS PORK LEANER THAN USDA FIGURES SHOW
An Iowa State University study showed
pork contains considerably less fat than indicated by
long-established U.S. Department of Agriculture statistics, the
National Pork Producers Council (NPPC) said.
Six of the seven muscle cuts evaluated in the study
averaged 4.3 pct fat or less, well below American Heart
Association guidelines for recommended foods. Eighty pct of all
the raw boneless rib chops evaluated in the study contained
less than six pct fat, the NPPC said.
Meanwhile, USDA Handbook 8-10 - long used as the
established authority on nutrient composition, indicates a fat
content for center loin pork of 7.3 pct, the NPPC said.
Robin Kline, a dietitian and Director of Consumer Affairs
for the NPPC said he was not surprised at the wide discrepancy
between the study and the USDA handbook.
'Handbook 8-10 is based to a certain extent on information
that has been accumulated over the past 30 years. The
statistics in it about pork do not reflect the hog of today
which is about 50 pct leaner than it was 20 or 30 years ago,
thanks to genetic improvements and better feeding practices,'
Kline said.
The study, funded by NPPC with producer checkoff money,
evaluated pork carcasses from 47 Iowa producers in categories
from 0.7 to 1.3 inches of backfat. Researchers measured the fat
content of the seven muscles before cooking, and the fat,
moisture and tenderness of cooked boneless rib chops.
|
test/21368 | test/21368 |@title soviets:1 outline:1 1988:1 economic:1 target:1 |@word soviet:8 union:2 outline:1 economic:2 target:1 1988:5 monday:1 stress:1 need:1 improve:1 standard:1 country:2 sluggish:1 engineering:2 industry:5 planning:2 chief:1 nikolai:1 talyzin:5 tell:2 supreme:2 industrial:1 output:3 rise:3 4:5 5:1 pct:7 planned:2 1987:3 3:5 6:1 jan:1 sept:1 say:7 national:3 income:1 near:1 equivalent:1 gross:2 product:2 1:1 year:6 measure:2 good:2 service:2 kremlin:3 plan:4 produce:2 235:1 mln:3 tonne:2 grain:1 versus:1 232:1 moscow:1 210:1 1986:1 leader:1 mikhail:1 gorbachev:1 describe:1 machine:4 builing:1 sector:1 whose:1 rapid:1 modernization:1 essential:1 compete:1 effectively:1 world:1 market:1 certain:1 difficulty:1 arise:1 building:2 economy:2 receive:1 considerable:1 amount:1 equipment:1 require:1 head:1 state:1 committee:1 gosplan:1 datum:1 show:1 make:1 tool:1 instrument:1 increase:3 first:1 nine:1 month:1 compare:1 period:1 last:2 however:1 far:1 7:1 whole:1 rule:1 politburo:1 conclude:1 recent:1 meeting:1 improvement:1 performance:1 depend:1 large:2 extent:1 conserve:1 resource:2 better:1 scale:1 save:1 finance:1 minister:1 boris:1 gostev:1 defense:2 spending:3 would:1 total:1 32:1 billion:1 dlrs:1 figure:2 announce:1 western:1 government:1 view:1 official:1 estimate:1 highly:1 understated:1 real:1 hard:1 calculate:1 military:1 intertwine:1 civilian:1 also:1 decide:1 next:1 medical:1 education:1 pension:1 social:1 insurance:1 scheme:1 | SOVIETS OUTLINE 1988 ECONOMIC TARGETS
The Soviet Union outlined its economic
targets for 1988 on Monday, stressing the need to improve
standards in the country's sluggish engineering industry.
Planning chief Nikolai Talyzin told the Supreme Soviet
industrial output should rise by 4.5 pct in 1988, up from a
planned 4.4 pct in 1987. It rose 3.6 pct in Jan-Sept 1987.
Talyzin said national income, the nearest Soviet equivalent
to gross national product, should rise by 4.3 pct against a
planned 4.1 pct this year. Gross national product measures the
output of a country's goods and services.
He said the Kremlin planned to produce 235 mln tonnes of
grain in 1988 versus a planned 232 mln this year. Moscow
produced 210 mln tonnes in 1986.
Kremlin leader Mikhail Gorbachev has described
machine-builing as a sector whose rapid modernization is
essential if the Soviet Union is to compete effectively on
world markets.
'Certain difficulties have arisen this year in the
machine-building industry. The economy is not receiving a
considerable amount of the equipment that it requires,' said
Talyzin, who heads the state planning committee GOSPLAN.
Soviet data show the machine-building industry, which makes
machine tools, instruments and other engineering goods,
increased output by 3.3 pct in the first nine months of 1987
compared with the same period last year.
However, this was far below the 7.3 pct increase planned
for the industry for the whole of 1988.
Talyzin said the ruling Politburo had concluded at a recent
meeting that an improvement in economic performance depended to
a large extent on conserving resources better. 'Large-scale
measures are planned to save resources,' he said.
Finance Minister Boris Gostev told the Supreme Soviet that
defense spending in 1988 would total 32 billion dlrs, the same
figure as was announced last year.
Western governments view official Soviet estimates for
defense spending as highly understated, but say the real figure
is hard to calculate because Soviet military industries are
intertwined with the civilian economy.
Talyzin said the Kremlin also decided to increase spending
next year on medical services, education, pensions and social
insurance schemes.
|
test/21369 | test/21369 |@title tass:1 denounce:1 u:1 attack:1 iran:1 adventurism:1 |@word official:3 soviet:3 news:1 agency:1 tass:2 denounce:1 u:1 attack:1 iranian:1 oil:1 drilling:1 platform:1 gulf:2 monday:2 military:2 adventurism:1 say:5 would:1 bring:2 dividend:2 reagan:1 administration:3 commentator:1 mikhail:2 krutikhin:3 embark:1 adventurist:1 path:1 order:1 deflect:1 attention:1 scandal:1 united:3 states:3 sell:1 arm:2 iran:4 profit:1 divert:1 nicaraguan:1 rebel:1 confrontation:1 fact:1 obvious:1 late:1 adventure:1 political:1 american:1 leader:1 gorbachev:1 foreign:2 minister:1 eduard:1 shevardnadze:1 abruptly:1 leave:1 parliamentary:1 session:1 earlier:1 spark:1 diplomatic:1 speculation:1 concern:1 urgent:1 matter:1 affairs:1 previously:1 criticize:1 send:1 naval:1 force:1 presence:1 serve:1 increase:1 tension:1 moscow:1 officially:1 neutral:1 war:1 iraq:2 major:1 supplier:1 also:1 seek:1 broad:1 contact:1 last:1 year:1 undertake:1 act:1 armed:1 aggression:1 probability:1 long:1 speak:1 washington:1 | TASS DENOUNCES U.S. ATTACK ON IRAN AS ADVENTURISM
The official Soviet news agency Tass
denounced a U.S. Attack on an Iranian oil-drilling platform in
the Gulf on Monday as military adventurism and said it would
bring no dividends to the Reagan administration.
Tass commentator Mikhail Krutikhin said the administration
had embarked on an adventurist path in order to deflect
attention from the scandal in which the United States sold arms
to Iran and the profits were diverted to Nicaraguan rebels.
'The confrontation is a fact now. What is obvious is that
the latest military adventure will not bring political
dividends to the American administration,' Krutikhin said.
Soviet leader Mikhail Gorbachev and Foreign Minister Eduard
Shevardnadze abruptly left a parliamentary session earlier on
Monday, sparking diplomatic speculation that they were
concerned with an urgent matter of foreign affairs.
Soviet officials have previously criticized the United
States for sending naval forces into the Gulf, saying their
presence serves to increase tension.
Moscow is officially neutral in the war between Iran and
Iraq. It is a major arms supplier to Iraq but has also sought
broader contacts with Iran in the last year.
Krutikhin said: 'The United States has undertaken an act of
armed aggression against Iran, the probability of which has
long been spoken of by Washington officials.'
|
test/21371 | test/21371 |@title world:1 telecom:1 watchdog:1 relax:1 car:1 phone:1 rule:1 |@word international:1 telecommunications:1 union:1 regulate:1 communication:1 worldwide:1 decide:2 end:1 five:1 week:1 conference:1 allow:2 mobile:1 phone:2 system:2 link:2 satellite:2 telecommunication:1 official:1 say:1 car:2 land:1 station:1 limit:1 mainly:1 urban:1 area:1 new:1 ruling:1 make:2 easy:1 call:1 remote:1 region:1 meeting:1 finish:1 weekend:1 also:1 radio:1 determination:1 would:1 enable:1 fleet:1 owner:1 trace:1 within:1 15:1 metre:1 movement:1 lorry:1 ship:1 around:1 world:1 | WORLD TELECOMS WATCHDOG RELAXES CAR PHONE RULES
The International Telecommunications
Union, which regulates communications worldwide, decided at the
end of a five-week conference to allow mobile phone systems to
be linked with satellites, telecommunications officials said.
Until now, car phones have been linked with land stations
and have been limited mainly to urban areas. The new ruling
will make it easier for calls to be made from remote regions.
The meeting, which finished over the weekend, also decided
to allow a 'radio determination satellite system,' which would
enable fleet owners to trace to within about 15 metres the
movements of their lorries or cars or ships around the world.
|
test/21372 | test/21372 |@title international:1 research:1 irdv:1 3rd:1 qtr:1 payout:1 |@word qtly:1 div:1 nine:2 ct:2 vs:1 prior:1 qtr:1 pay:1 nov:2 25:1 record:1 13:1 note:1 full:1 name:1 international:1 research:1 development:1 corp:1 | INTERNATIONAL RESEARCH <IRDV.O> 3RD QTR PAYOUT
Qtly div nine cts vs nine cts prior qtr
Pay Nov 25
Record Nov 13
Note: Full name is International Research and Development
Corp
|
test/21373 | test/21373 |@title rohm:1 haas:1 co:1 roh:1 3rd:1 qtr:1 net:1 |@word shr:2 57:1 ct:2 vs:6 54:1 net:2 39:1 3:2 mln:6 37:1 sale:2 540:1 9:1 488:1 5:1 nine:1 mth:1 2:1 30:1 dlrs:2 1:3 58:1 158:1 8:1 108:1 7:1 67:1 billion:2 60:1 | ROHM AND HAAS CO <ROH> 3RD QTR NET
Shr 57 cts vs 54 cts
Net 39.3 mln vs 37.3 mln
Sales 540.9 mln vs 488.5 mln
Nine mths
Shr 2.30 dlrs vs 1.58 dlrs
Net 158.8 mln vs 108.7 mln
Sales 1.67 billion vs 1.60 billion
|
test/21375 | test/21375 |@title industrial:2 equity:2 tell:2 sec:2 send:2 calmat:2 proposal:2 business:2 combination:2 |@word | INDUSTRIAL EQUITY TELLS SEC IT WILL SEND CALMAT PROPOSAL FOR BUSINESS COMBINATION
INDUSTRIAL EQUITY TELLS SEC IT WILL SEND CALMAT PROPOSAL FOR BUSINESS COMBINATION
|
test/21376 | test/21376 |@title idc:2 services:1 idcs:1 holder:1 offer:1 16:1 dlrs:1 |@word services:1 inc:3 say:7 new:2 company:7 begin:1 cash:1 tender:3 offer:3 october:1 26:1 acquire:2 idc:11 outstanding:4 common:1 16:2 dlrs:3 share:5 make:1 definitive:1 agreement:3 reach:1 acquisition:5 corp:1 form:1 apollo:2 partners:1 ltd:2 investment:1 client:1 equitable:1 capital:1 management:1 call:1 62:1 4:1 mln:1 also:2 nine:1 pct:3 convertible:1 subordinated:1 debenture:1 merger:2 provide:1 payment:1 equivalent:1 amount:1 respect:1 employee:1 stock:2 option:2 cancel:1 part:1 transaction:1 grant:2 20:1 per:1 plan:1 subject:1 several:1 condition:1 include:1 tendering:1 50:1 mim:1 holdings:1 mima:1 substantial:1 shareholder:1 agree:1 buy:1 additional:1 february:1 seven:1 right:1 first:1 refusal:1 sell:1 period:1 partner:1 recently:1 organize:1 three:1 former:1 senior:1 viacom:1 via:1 executive:1 terrence:1 elkes:1 george:1 c:1 catell:1 kenneth:1 f:1 gorman:1 | IDC SERVICES <IDCS.O> HOLDERS OFFERED 16 DLRS
IDC Services Inc said a new company will
begin a cash tender offer by October 26 to acquire all of IDC's
outstanding common for 16 dlrs a share.
The company said the offer is being made under a definitive
agreement reached with the new company, IDC Acquisition Corp,
formed by Apollo Partners Ltd and investment clients of
<Equitable Capital Management Inc>. The agreement calls for the
acquisition of IDC for about 62.4 mln dlrs.
IDC Acquisition will also tender for all of IDC's
outstanding nine pct convertible subordinated debentures.
IDC said the merger agreement also provides for payment of
an equivalent amount in respect of employee stock options to be
cancelled in the merger.
As part of the transaction, the company said, it granted
IDC Acquisition an option to acquire up to 20 pct of the
company's outstanding shares for 16 dlrs per share.
It said the planned tender offer is subject to several
conditions, including the tendering of over 50 pct of the
company's outstanding stock.
MIM Holdings Ltd <MIMA.S>, a substantial shareholder in
IDC, has agreed it will not buy any additional IDC shares until
February seven and has granted IDC Acquisition a right of first
refusal on any IDC shares it sells during that period, the
company said.
It said Apollo Partners was recently organized by three
former senior Viacom Inc <VIA> executives, Terrence A. Elkes,
George C. Catell and Kenneth F. Gorman.
|
test/21378 | test/21378 |@title monsanto:1 co:1 mtc:1 3rd:1 qtr:1 net:1 |@word shr:2 1:4 30:1 dlrs:5 vs:6 85:1 net:3 100:1 000:8 144:1 sale:2 90:1 billion:4 69:1 nine:1 mth:1 5:4 01:1 27:1 392:1 410:1 79:1 31:1 note:1 1986:1 figure:1 include:1 63:1 mln:1 81:1 ct:1 share:1 gain:1 facility:1 business:1 sell:1 shut:1 impaired:1 non:1 recur:1 income:1 expense:1 | MONSANTO CO <MTC> 3RD QTR NET
Shr 1.30 dlrs vs 1.85 dlrs
Net 100,000,000 vs 144,000,000
Sales 1.90 billion vs 1.69 billion
Nine mths
Shr 5.01 dlrs vs 5.27 dlrs
Net 392,000,000 vs 410,000,000
Sales 5.79 billion vs 5.31 billion
Note: 1986 figures include 63 mln dlrs, or 81 cts a share,
of net gains from facilities and businesses sold, shut down or
impaired, and other non-recurring income and expenses
|
test/21380 | test/21380 |@title coastal:2 say:2 raise:2 oil:2 posting:2 50:2 ct:2 barrel:2 october:2 16:2 wti:2 19:2 00:2 dlrs:2 |@word | COASTAL SAID RAISED OIL POSTINGS 50 CTS A BARREL OCTOBER 16. WTI NOW 19.00 DLRS.
COASTAL SAID RAISED OIL POSTINGS 50 CTS A BARREL OCTOBER 16. WTI NOW 19.00 DLRS.
|
test/21382 | test/21382 |@title ic:2 industries:1 icx:1 may:1 sell:1 aerospace:1 unit:1 |@word industries:1 inc:2 say:5 board:3 approve:2 second:1 major:2 step:1 reorganization:1 restructuring:1 company:6 implement:1 plan:2 sharpen:1 strategic:1 focus:1 consumer:2 good:2 service:2 give:1 serious:1 consideration:1 sale:3 pneumo:2 abex:2 aerospace:1 defense:1 realize:1 price:1 return:2 maximum:1 value:1 shareholder:2 1986:1 operate:1 income:1 118:1 1:2 mln:4 dlrs:5 900:1 5:1 ic:4 use:1 proceed:1 asset:1 invest:1 new:1 high:1 business:1 field:1 authorize:1 program:3 repurchase:1 500:1 0:1 billion:1 common:1 stock:1 time:2 condition:1 warrant:1 also:1 begin:1 immediate:1 cost:2 reduction:2 cust:1 annual:1 operating:1 expense:1 50:1 spokesman:1 involve:1 across:1 cut:1 rather:1 specific:1 target:1 area:1 earlier:1 spin:1 illinois:1 central:1 gulf:1 railroad:1 subsidiary:1 pet:1 pepsi:1 cola:1 general:1 bottlers:1 midas:1 international:1 corp:2 hussmann:1 | IC INDUSTRIES <ICX> MAY SELL AEROSPACE UNIT
IC Industries Inc said its board approved
a second major step in the reorganization and restructuring of
the company.
To implement the plan of sharpening its strategic focus on
consumer goods and services, the company will give serious
consideration to the sale of its Pneumo Abex, its aerospace and
defense company, if it can realize a price which will return
maximum value to shareholders.
In 1986, Pneumo Abex had operating income of 118.1 mln dlrs
on sales of 900.5 mln dlrs.
IC said it will use the proceeds of any asset sale to
invest in new high-return businesses in the consumer goods and
services field.
The company said it authorized a program to repurchase
between 500 mln dlrs and 1.0 billion dlrs of IC's common stock
from time to time when conditions warrant.
It also said it will begin an immediate cost-reduction
program to cust annual operating expenses by 50 mln dlrs.
An IC spokesman said the cost-reduction program involved
'across-the-board' cuts rather than specific about targeted
areas.
IC's board earlier approved a plan to spin off the
company's Illinois Central Gulf Railroad to shareholders. The
company's other major subsidiaries are Pet Inc, Pepsi-Cola
General Bottlers, Midas International Corp and Hussmann Corp.
|
test/21385 | test/21385 |@title georgia:1 gulf:1 corp:1 gglf:1 3rd:1 qtr:1 net:1 |@word shr:2 1:2 92:1 dlrs:3 vs:6 58:1 ct:1 net:2 27:2 9:3 mln:7 480:1 000:1 sale:2 176:1 4:1 137:1 nine:1 mth:1 3:1 87:1 69:1 56:1 7:1 6:2 505:1 438:1 5:1 | GEORGIA GULF CORP <GGLF.O> 3RD QTR NET
Shr 1.92 dlrs vs 58 cts
Net 27.9 mln vs 9,480,000
Sales 176.4 mln vs 137.9 mln
Nine mths
Shr 3.87 dlrs vs 1.69 dlrs
Net 56.7 mln vs 27.6 mln
Sales 505.6 mln vs 438.5 mln
|
test/21386 | test/21386 |@title financial:1 corp:1 america:1 fin:1 3rd:1 qtr:1 loss:1 |@word shr:3 loss:7 2:4 20:1 dlrs:5 vs:25 profit:5 24:1 ct:1 net:6 75:1 8:2 mln:23 11:1 6:2 avg:4 shrs:4 primary:3 35:2 9:4 36:1 5:3 dilute:3 39:3 3:3 nine:6 mth:6 7:6 04:2 1:4 69:1 64:2 37:1 46:1 243:1 4:5 72:1 asset:1 33:1 billion:6 34:1 loan:2 10:1 12:2 0:4 deposit:1 16:3 17:1 note:1 include:5 fslic:2 sepcial:1 assessment:1 429:1 000:5 193:1 qtr:3 1987:8 1986:6 gain:2 sale:2 mortgage:1 back:1 security:1 93:1 139:1 264:1 investment:1 157:1 231:1 provision:1 discount:1 70:1 76:1 315:1 161:1 write:1 secondary:1 reserve:1 22:1 | FINANCIAL CORP OF AMERICA <FIN> 3RD QTR LOSS
Shr loss 2.20 dlrs vs profit 24 cts
Net loss 75.8 mln vs profit 11.6 mln
Avg shrs primary 35.9 mln vs 36.5 mln
Avg shrs diluted 39.3 mln vs 39.9 mln
Nine mths
Shr primary loss 7.04 dlrs vs profit 1.69 dlrs
Shr diluted loss 7.04 dlrs vs profit 1.64 dlrs
Avg shrs primary 35.9 mln vs 37.2 mln
Avg shrs diluted 39.3 mln vs 46.6 mln
Net loss 243.4 mln vs profit 72.2 mln
Assets 33.4 billion vs 34.1 billion
Loans 10.8 billion vs 12.0 billion
Deposits 16.9 billion vs 17.0 billion
NOTE: Net includes FSLIC sepcial assessment loss of
5,429,000 vs 5,193,000 in qtr 1987 vs 1986, and 16.3 mln vs
16.0 mln in nine mths 1987 vs 1986.
Net includes gain from sale of mortgage-backed securities
and loans of 12.4 mln vs 93.4 mln, and 139.7 mln vs 264.0 mln
in nine mths 1987 vs 1986.
Net includes gain from sale of investments of 64,000 in qtr
1987, and 157,000 vs 1,231,000 in nine mths 1987 vs 1986.
Net includes provision for losses and discounts of 70.4 mln
vs 76.2 mln in qtr 1987 vs 1986, and 315.7 mln vs 161.7 mln in
nine mths 1987 vs 1986.
Nine mths 1987 included write off of FSLIC secondary
reserve of 22.7 mln.
|
test/21387 | test/21387 |@title arnox:1 arnx:1 still:1 merger:1 talk:1 txl:1 |@word arnox:2 corp:2 say:2 special:1 committee:1 board:1 continue:1 talk:1 txl:3 term:1 offer:1 acquire:1 10:1 dlrs:1 per:1 share:1 arrange:1 preliminary:1 financing:1 | ARNOX <ARNX.O> STILL IN MERGER TALKS WITH TXL
Arnox Corp said a special
committee of its board is continuing talks with <TXL Corp> on
the terms of TXL's offer to acquire Arnox at 10 dlrs per share.
It said TXL has arranged preliminary financing.
|
test/21388 | test/21388 |@title j:1 p:1 morgan:1 co:1 inc:1 jpm:1 3rd:1 qtr:1 net:1 |@word shr:2 profit:6 1:2 18:1 dlrs:3 vs:7 15:1 net:2 219:1 2:1 mln:5 211:1 5:1 nine:2 mth:2 loss:3 84:1 ct:1 3:1 72:1 140:1 8:1 682:1 4:1 asset:1 79:1 69:1 billion:6 71:1 99:1 loan:2 33:2 93:1 35:1 deposit:1 45:1 68:1 41:1 22:1 note:1 1987:1 include:1 previously:1 report:1 875:1 dlr:1 addition:1 reserve:1 2nd:1 qtr:1 ldc:1 debts:1 | J.P. MORGAN AND CO INC <JPM> 3RD QTR NET
shr profit 1.18 dlrs vs profit 1.15 dlrs
net profit 219.2 mln vs profit 211.5 mln
nine mths
shr loss 84 cts vs profit 3.72 dlrs
net loss 140.8 mln vs profit 682.4 mln
assets 79.69 billion vs 71.99 billion
loans 33.93 billion vs 35.33 billion
deposits 45.68 billion vs 41.22 billion
NOTE: 1987 nine mths include previously reported 875 mln
dlr addition to loan loss reserve in 2nd qtr for ldc debts
|
test/21391 | test/21391 |@title cairns:1 group:1 say:1 influential:1 trade:1 talk:1 |@word australian:1 minister:2 trade:5 negotiation:2 michael:1 duffy:3 say:5 country:2 third:3 world:1 commodity:1 producer:2 form:1 effective:1 lobby:1 group:4 farm:2 export:1 subsidy:1 market:1 access:1 restriction:1 tell:1 press:1 conference:1 cairns:2 14:1 major:1 agricultural:2 australia:1 thailand:1 belong:1 emerge:1 important:1 force:2 multilateral:1 talk:2 doubt:1 see:1 reckon:1 inside:1 general:1 agreement:1 tariffs:1 international:1 three:1 day:1 visit:1 united:1 states:1 european:1 community:1 ec:2 latin:1 america:1 considerable:1 progress:1 make:1 towards:1 fight:1 costly:1 protectionist:2 policy:2 pursue:1 develop:1 commission:1 new:1 paper:1 recognise:1 heavy:1 financial:1 burden:1 impose:1 common:1 future:1 expansion:1 reagan:1 administration:1 also:1 display:1 determination:1 resist:1 currently:1 strong:1 sentiment:1 u:1 congress:1 | CAIRNS GROUP SAID INFLUENTIAL IN TRADE TALKS
Australian Minister for Trade
Negotiations Michael Duffy said his country and Third World
commodity producers have formed an effective lobby group
against farm export subsidies and market access restrictions.
Duffy told a press conference the Cairns Group of 14 major
agricultural producers, to which Australia and Thailand belong,
has emerged as an important third force in any multilateral
trade talks. 'There's no doubt that the Cairns Group is being
seen as a third force to be reckoned with both inside the
General Agreement on Tariffs and Trade and in other
international trade negotiations,' he said.
Duffy, here on a three-day visit after talks in the United
States, The European Community (EC) and Latin America, said
considerable progress has been made by the group towards
fighting costly protectionist policies pursued by developed
countries.
The minister said the EC Commission's new farm trade paper
will recognise the heavy financial burdens imposed by its
Common Agricultural Policy and its future expansion.
He said the Reagan Administration has also displayed a
determination to resist the currently strong protectionist
sentiment in the U.S. Congress.
|
test/21392 | test/21392 |@title turkey:1 current:1 account:1 deficit:1 widen:1 july:1 |@word turkey:1 current:2 account:2 deficit:4 widen:1 july:3 674:1 mln:3 dlrs:3 454:1 june:2 fall:1 1:6 22:1 billion:9 last:3 year:3 state:1 statistics:1 institute:1 say:1 cumulative:1 trade:1 position:1 show:1 85:1 dlr:1 33:1 89:1 earlier:1 export:2 4:1 91:1 import:1 fob:1 6:1 76:1 government:1 aim:1 narrow:1 whole:1 1987:2 975:1 compare:1 52:1 01:1 1985:1 banker:1 forecast:1 exceed:1 one:1 spurt:1 expect:1 slow:1 considerably:1 five:1 month:1 follow:1 massive:1 drawdown:1 inventory:1 | TURKEY CURRENT ACCOUNT DEFICIT WIDENS IN JULY
Turkey's current account deficit widened
in July to 674 mln dlrs from 454 mln in June but fell from 1.22
billion in July last year, the State Statistics Institute said.
The cumulative trade position in July showed a 1.85 billion
dlr deficit after 1.33 billion in June and 1.89 billion a year
earlier, with exports at 4.91 billion and imports, both FOB, at
6.76 billion.
The government aims to narrow the current account deficit
for the whole of 1987 to 975 mln dlrs, compared with 1.52
billion last year, up from 1.01 billion in 1985.
Bankers forecast the 1987 deficit will exceed one billion
dlrs, because a spurt in exports is expected to slow
considerably in the last five months following a massive
drawdown of inventories.
|
test/21393 | test/21393 |@title ibc:3 interstate:1 bakeries:1 bid:1 oversubscribed:1 |@word acquisition:1 corp:2 say:2 receive:1 8:2 857:1 807:1 interstate:2 bakery:1 share:4 response:1 tender:2 offer:1 053:1 181:1 expire:1 october:2 16:1 purchase:1 90:1 9:1 pct:1 final:1 proration:1 factor:1 announce:1 payment:1 start:1 26:1 ibc:1 make:1 management:1 first:1 boston:1 inc:1 fbc:1 george:1 k:1 braun:1 co:1 | IBC'S INTERSTATE BAKERIES<IBC>BID OVERSUBSCRIBED
IBC Acquisition Corp said it received
about 8,857,807 Interstate Bakeries Corp shares in response to
its tender offer for up to 8,053,181 shares that expired
October 16, and it will purchase about 90.9 pct of the shares
tendered.
It said a final proration factor should be announced and
payment for shares start October 26.
IBC is made up of Interstate management, First Boston Inc
<FBC> and George K. Braun and Co.
|
test/21394 | test/21394 |@title oregon:1 steel:1 buy:1 kaiser:1 napa:1 valley:1 plant:1 |@word kaiser:3 steel:4 corp:2 plant:2 napa:2 calif:1 purchase:1 oregon:2 mill:1 16:1 mln:1 dlrs:1 privately:1 portland:1 company:1 say:2 transaction:1 approve:1 u:1 bankruptcy:1 judge:1 denver:1 hear:1 chapter:1 11:1 reorganization:1 case:1 james:1 mccaughey:1 former:1 vice:1 president:1 sale:1 name:1 general:1 manager:1 call:1 pipe:1 | OREGON STEEL BUYS KAISER'S NAPA VALLEY PLANT
<Kaiser Steel Corp>'s plant in
Napa, Calif., has been purchased by Oregon Steel Mills for 16
mln dlrs, the privately owned Portland company said.
The transaction was approved by the U.S. bankruptcy judge
in Denver who is hearing Kaiser Steel's Chapter 11
reorganization case.
James Mccaughey, former vice president of sales for Kaiser,
has been named general manager for the plant which will be
called Napa Pipe Corp, Oregon Steel said.
|
test/21401 | test/21401 |@title carson:1 pirie:1 crn:1 start:1 proxy:1 mailing:1 |@word carson:4 pirie:2 scott:2 co:2 say:2 plan:1 start:1 mail:1 proxy:1 material:1 stockholder:2 connection:1 november:1 16:1 special:1 meeting:1 holder:1 ask:1 consider:1 previously:1 announce:1 agreement:2 greyhound:2 corp:1 g:1 acquire:1 merger:1 three:1 company:1 foodservice:1 operation:1 dobb:2 international:2 service:1 house:1 transaction:1 approve:1 receive:1 30:1 dlrs:1 cash:1 one:1 share:2 common:1 new:1 hold:1 | CARSON PIRIE <CRN> TO START PROXY MAILING
Carson Pirie Scott and Co said it plans
to start mailing proxy materials to stockholders in connection
to a November 16 special meeting at which holders will be asked
to consider a previously announced agreement with Greyhound
Corp <G>.
Under the agreement, Greyhound will acquire, in a merger,
three of the company's foodservice operations - Dobbs
International Services, Dobbs Houses and Carson international.
If the transaction is approved, Carsons said its
stockholders will receive 30 dlrs cash and one share of common
in the new Carson Pirie Scott and Co for each share held.
|
test/21403 | test/21403 |@title home:1 savings:1 bank:1 hmsb:1 3rd:1 qtr:1 net:1 |@word shr:2 57:1 ct:1 net:2 6:1 889:1 000:1 vs:5 10:1 7:1 mln:4 nine:2 mth:2 1:7 67:1 dlrs:1 20:1 22:1 9:1 asset:1 63:1 billion:5 47:1 deposit:1 17:1 19:1 loan:1 25:1 936:1 5:1 note:1 3rd:1 qtr:1 1986:2 per:1 share:1 figure:1 available:1 bank:1 convert:1 stock:1 form:1 nov:1 28:1 | HOME SAVINGS BANK <HMSB.O> 3RD QTR NET
Shr 57 cts
Net 6,889,000 vs 10.7 mln
Nine mths
Shr 1.67 dlrs
Net 20.1 mln vs 22.9 mln
Assets 1.63 billion vs 1.47 billion
Deposits 1.17 billion vs 1.19 billion
Loans 1.25 billion vs 936.5 mln
NOTE: 3rd qtr and nine mths 1986 per share figures not
available because bank converted to stock form Nov 28, 1986.
|
test/21404 | test/21404 |@title woolworth:1 z:1 complete:1 tender:1 offer:1 fw:1 |@word woolworth:6 co:1 say:5 2:1 223:1 996:1 share:5 armel:6 inc:1 aml:1 common:1 stock:3 tender:5 accept:1 payment:1 term:1 previosuly:1 announce:2 cash:2 offer:2 expire:1 2400:1 midnight:1 edt:1 october:1 16:1 addition:1 woolowrth:2 137:1 367:1 subject:1 guarantee:1 delivery:1 result:1 option:2 exercise:1 purchase:2 fww:3 acquisiton:1 corp:1 unit:1 today:1 expect:2 91:1 75:2 pct:1 amrel:1 outstanding:1 percent:1 include:1 583:1 650:1 class:1 pursuant:1 previuosly:1 proceed:1 merger:1 hold:1 entitle:1 receive:1 7:1 dlrs:1 per:1 consummate:1 deal:1 later:1 year:1 specialty:1 retailer:1 broad:1 line:1 athletic:1 leisure:1 footwear:1 accessory:1 sportswear:1 | WOOLWORTH <Z> COMPLETING TENDER OFFER
FW Woolworth and Co said that 2,223,996
shares of Armel Inc's <AML> common stock were tendered to and
accepted for payment by Woolworth, under the terms of the
previosuly announced cash tender offer which expired at 2400
midnight EDT on October 16.
In addition, Woolowrth said 137,367 Armel shares have been
tendered subject to guaranteed delivery.
Woolowrth said as a result of the tender offer and options
which it has exercised to purchase Armel stock, FWW Acquisiton
Corp, a Woolworth unit, today expects to own about 91.75 pct of
Amrel's outstanding stock.
Woolworth said the percent it owns does not include 583,650
Class A shares of Armel, which were tendered or will be
purchased pursuant to the options.
As previuosly announced, FWW will now proceed with the cash
merger in which all shares of Armel, other than those held by
FWW or Woolworth, will be entitled to receive 7.75 dlrs per
share. Woolworth said it expects to consummate the deal later
this year.
Armel is a specialty retailer of a broad line of athletic
and leisure footwear, accessories and other sportswear.
|
test/21405 | test/21405 |@title plains:1 petroleum:1 co:1 plp:1 3rd:1 qtr:1 net:1 |@word shr:2 15:1 ct:6 vs:6 13:1 net:2 1:2 352:1 000:7 210:1 revs:2 5:1 953:1 3:2 309:1 nine:2 mth:2 36:1 27:1 257:1 2:1 416:1 16:1 6:1 mln:1 9:1 705:1 note:1 fasb:1 adopt:1 accounting:1 change:1 1987:2 3rd:1 qtr:1 per:1 share:2 result:1 restate:1 22:1 54:1 | PLAINS PETROLEUM CO <PLP> 3RD QTR NET
Shr 15 cts vs 13 cts
Net 1,352,000 vs 1,210,000
Revs 5,953,000 vs 3,309,000
Nine mths
Shr 36 cts vs 27 cts
Net 3,257,000 vs 2,416,000
Revs 16.6 mln vs 9,705,000
NOTE: If FASB adopts accounting changes, then 1987 3rd qtr
per share results will be restated to 22 cts, and 54 cts a
share for 1987 nine mths.
|
test/21406 | test/21406 |@title wells:1 gardner:1 corp:1 wga:1 3rd:1 qtr:1 net:1 |@word shr:2 profit:4 three:1 ct:4 vs:6 loss:4 two:1 net:2 107:1 000:6 87:1 revs:2 6:1 769:1 4:1 992:1 nine:2 mth:1 21:2 778:1 314:1 9:2 mln:2 13:1 | WELLS-GARDNER CORP <WGA> 3RD QTR NET
Shr profit three cts vs loss two cts
Net profit 107,000 vs 87,000 loss
Revs 6,769,000 vs 4,992,000
Nine mths
Shr profit 21 cts vs loss nine cts
Net profit 778,000 vs loss 314,000
Revs 21.9 mln vs 13.9 mln
|
test/21408 | test/21408 |@title prospect:1 group:1 14:1 3:1 pct:1 brinkmann:1 brik:1 |@word new:1 york:1 base:1 prospect:4 group:4 inc:2 prosz:1 say:4 acquire:1 527:2 000:2 share:2 brinkmann:5 instruments:1 common:2 stock:3 14:1 3:1 pct:1 scientific:1 instrument:1 maker:1 outstanding:1 filing:1 securities:1 exchange:1 commission:1 buy:2 open:1 market:2 transaction:1 august:1 12:1 october:1 16:1 9:1 62:1 dlrs:3 11:1 50:1 total:1 5:1 69:1 mln:1 establish:1 significant:1 minority:1 equity:1 interest:1 company:2 intend:1 seek:1 control:1 present:1 time:1 review:1 investment:1 objective:1 regard:1 warrant:1 condition:1 performance:1 factor:1 include:1 discussion:1 management:1 | PROSPECT GROUP HAS 14.3 PCT OF BRINKMANN<BRIK.O>
New York-based Prospect Group Inc
<PROSZ.O> said it acquired 527,000 shares of Brinkmann
Instruments Inc common stock, or 14.3 pct of the scientific
instrument maker's common stock outstanding.
In a filing with the Securities and Exchange Commission,
Prospect Group said it bought the 527,000 Brinkmann shares in
open market transactions between August 12 and October 16 at
9.62 dlrs to 11.50 dlrs, or a total of 5.69 mln dlrs.
Prospect Group said it bought the stock 'to establish a
significant minority equity interest in the company,' but does
not intend to seek control of Brinkmann at the present time.
Prospect Group said it will review its investment
objectives regarding Brinkmann as warranted by market
conditions, the company's performance, and other factors
including discussions with Brinkmann management.
|
test/21410 | test/21410 |@title ic:2 industries:2 say:2 consider:2 possible:2 sale:2 aerospace:2 business:2 |@word | IC INDUSTRIES SAYS IT WILL CONSIDER POSSIBLE SALE OF ITS AEROSPACE BUSINESS
IC INDUSTRIES SAYS IT WILL CONSIDER POSSIBLE SALE OF ITS AEROSPACE BUSINESS
|
test/21411 | test/21411 |@title warner:1 wci:1 8:1 2:1 pct:1 berkey:1 inc:1 bky:1 stake:1 |@word warner:4 communications:4 inc:3 say:3 investors:1 unit:1 acquire:2 stock:6 warrant:2 represent:1 416:1 668:1 share:4 berkey:5 common:3 equivalent:1 8:1 2:1 pct:1 company:1 outstanding:1 filing:1 securities:1 exchange:1 commission:1 investor:1 pay:1 one:1 mln:1 dlrs:1 september:1 23:1 104:1 167:1 series:1 b:1 convertible:2 preferred:2 208:2 334:2 buy:1 another:1 subsidiary:1 hold:1 investment:1 review:1 evaluate:1 time:2 | WARNER <WCI> HAS 8.2 PCT BERKEY INC <BKY> STAKE
Warner Communications Inc said its
Warner Communications Investors Inc unit acquired stock and
warrants representing 416,668 shares of Berkey Inc common
stock, or the equivalent of 8.2 pct of the company's common
stock outstanding.
In a filing with the Securities and Exchange Commission,
Warner Communications Investors said it paid about one mln dlrs
to Berkey on September 23 to acquire 104,167 shares of Berkey
Series B convertible preferred stock.
The preferred stock is convertible into 208,334 Berkey
common shares, and warrants to buy another 208,334 shares.
Warner Communications and its subsidiary said the Berkey
stock is held as an investment which they will review and
evaluate from time to time.
|
test/21412 | test/21412 |@title american:1 cyanamid:1 co:1 acy:1 3rd:1 qtr:1 net:1 |@word oper:4 shr:2 59:1 ct:4 vs:7 49:1 net:4 54:1 7:1 mln:9 44:1 8:2 sale:4 1:3 04:1 billion:3 921:1 4:2 nine:2 mth:1 2:2 22:1 dlrs:4 62:1 203:1 150:1 3:1 14:1 87:1 avg:1 shrs:1 91:1 6:2 93:1 note:1 1986:1 share:3 datum:1 restate:1 reflect:1 100:1 pct:1 stock:1 dividend:1 distribute:1 june:1 12:2 1987:2 operate:2 period:1 exclude:1 additional:1 gain:2 11:1 13:2 associate:1 1985:1 formica:1 brand:1 product:1 group:1 business:2 month:1 include:1 pre:1 tax:1 0:1 equal:1 jacqueline:1 cochran:1 | AMERICAN CYANAMID CO <ACY> 3RD QTR NET
Oper shr 59 cts vs 49 cts
Oper net 54.7 mln vs 44.8 mln
Sales 1.04 billion vs 921.4 mln
Nine mths
Oper shr 2.22 dlrs vs 1.62 dlrs
Oper net 203.8 mln vs 150.4 mln
Sales 3.14 billion vs 2.87 billion
Avg shrs 91.6 mln vs 93.1 mln
NOTE: 1986 share data restated to reflect 100 pct stock
dividend distributed June 12
1987 operating net in both periods excludes additional gain
of 11.6 mln dlrs, or 13 cts a share, associated with 1985 sale
of Formica Brand Products Group business
1987 nine month operating net includes pre-tax gain of 12.0
mln dlrs, equal to about 13 cts a share, from sale of
Jacqueline Cochran businesses
|
test/21413 | test/21413 |@title tandy:1 corp:1 tan:1 1st:1 qtr:1 sept:1 30:1 net:1 |@word shr:1 71:1 ct:2 vs:4 49:1 net:1 64:1 3:1 mln:6 43:1 7:1 revs:1 838:1 2:1 742:1 6:1 avg:1 shrs:1 89:2 9:2 | TANDY CORP <TAN> 1ST QTR SEPT 30 NET
Shr 71 cts vs 49 cts
Net 64.3 mln vs 43.7 mln
Revs 838.2 mln vs 742.6 mln
Avg shrs 89.9 mln vs 89.9 mln
|
test/21414 | test/21414 |@title bell:1 atlantic:1 corp:1 bel:1 3rd:1 qtr:1 net:1 |@word shr:2 1:2 62:1 dlrs:4 vs:8 49:2 net:2 321:1 8:2 mln:8 297:1 9:1 revs:2 2:4 59:1 billion:4 avg:2 shrs:2 198:1 199:3 5:1 nine:1 mth:1 80:1 4:2 48:1 955:1 895:1 7:3 70:1 32:1 0:1 | BELL ATLANTIC CORP <BEL> 3RD QTR NET
Shr 1.62 dlrs vs 1.49 dlrs
Net 321.8 mln vs 297.9 mln
Revs 2.59 billion vs 2.49 billion
Avg shrs 198.8 mln vs 199.5 mln
Nine mths
Shr 2.80 dlrs vs 4.48 dlrs
Net 955.4 mln vs 895.2 mln
Revs 7.70 billion vs 7.32 billion
Avg shrs 199.0 mln vs 199.7 mln
|
test/21415 | test/21415 |@title wang:1 laboratories:1 inc:1 wanb:1 1st:1 qtr:1 sept:1 30:1 |@word shr:1 profit:2 14:1 ct:2 vs:4 loss:2 19:1 net:2 22:1 5:1 mln:7 30:1 0:3 revs:1 693:1 597:1 9:1 avg:1 shrs:1 166:1 154:1 2:1 note:1 prior:1 year:1 include:1 five:1 dlr:1 tax:1 credit:1 | WANG LABORATORIES INC <WANB> 1ST QTR SEPT 30
Shr profit 14 cts vs loss 19 cts
Net profit 22.5 mln vs loss 30.0 mln
Revs 693.0 mln vs 597.9 mln
Avg shrs 166.0 mln vs 154.2 mln
NOTE: Prior year net includes five mln dlr tax credit.
|
test/21416 | test/21416 |@title brockway:1 inc:1 brk:1 3rd:1 qtr:1 net:1 |@word shr:2 98:1 ct:2 vs:6 70:1 net:2 12:1 3:2 mln:7 8:1 699:1 000:1 sale:2 284:1 7:2 280:1 nine:1 mth:1 2:2 83:1 dlrs:2 23:1 35:1 27:1 6:2 824:1 818:1 4:1 note:1 share:1 adjust:1 december:1 1986:1 three:1 two:1 split:1 | BROCKWAY INC <BRK> 3RD QTR NET
Shr 98 cts vs 70 cts
Net 12.3 mln vs 8,699,000
Sales 284.7 mln vs 280.7 mln
Nine mths
Shr 2.83 dlrs vs 2.23 dlrs
Net 35.3 mln vs 27.6 mln
Sales 824.6 mln vs 818.4 mln
NOTE: Share adjusted for December 1986 three-for-two split.
|
test/21417 | test/21417 |@title nui:3 may:1 spin:1 nonutility:1 operation:1 |@word corp:1 say:2 study:1 feasibility:1 spin:1 nonutility:1 subsidiary:2 shareholder:1 company:2 propane:1 disution:1 natural:3 gas:4 spot:1 marketing:1 data:1 processing:1 oil:1 exploration:1 production:1 gathering:1 underground:1 pipe:1 replacement:1 business:1 sale:2 year:1 end:1 september:1 30:1 74:1 mln:1 dlrs:1 25:1 pct:1 total:1 nui:1 major:1 utility:1 elizabethtown:1 | NUI <NUI> MAY SPIN OFF NONUTILITY OPERATIONS
NUI Corp said it is studying
the feasibility of spinning off nonutility subsidiaries to
shareholders.
The company said its propane disution, natural gas spot
marketing, data processing, oil and natural gas exploration and
production, natural gas gathering and underground pipe
replacement businesses had sales for the year ended September
30 of about 74 mln dlrs, or about 25 pct of total company
sales. NUI's major subsidiary is utility Elizabethtown Gas.
|
test/21419 | test/21419 |@title telex:1 tc:1 may:1 seek:1 purchaser:1 |@word telex:3 corp:1 say:3 board:4 direct:1 management:1 financial:1 advisor:1 drexel:1 burnham:1 lambert:1 inc:1 investigate:1 possible:1 alternative:1 tender:1 offer:2 asher:1 edelman:2 tlx:1 partner:1 share:1 may:1 include:1 seek:1 purchaser:1 company:1 october:2 16:1 meeting:2 decide:1 defer:1 later:1 week:1 recommendation:2 expect:1 make:1 23:1 | TELEX <TC> MAY SEEK OTHER PURCHASERS
Telex Corp said its board has directed
management and financial advisor Drexel Burnham Lambert Inc to
investigate possible alternatives to the tender offer of Asher
Edelman's TLX Partners for all Telex shares that may include
seeking other purchasers for Telex.
The company said the board at an October 16 meeting decided
to defer until a board meeting later this week a recommendation
on the Edelman offer and said the board expects to make a
recommendation by October 23.
|
test/21421 | test/21421 |@title ibc:2 acquisition:2 get:2 8:2 857:2 807:2 share:2 tender:2 buy:2 90:2 9:2 pct:2 |@word | IBC ACQUISITION GETS 8,857,807 SHARES IN TENDER, TO BUY 90.9 PCT
IBC ACQUISITION GETS 8,857,807 SHARES IN TENDER, TO BUY 90.9 PCT
|
test/21423 | test/21423 |@title soviet:1 union:1 set:1 4:1 5:1 pct:1 industrial:1 output:1 growth:1 |@word soviet:9 planning:2 chief:1 nikolai:1 talyzin:6 tell:2 supreme:2 parliament:1 industrial:2 output:3 plan:8 rise:4 4:5 5:2 pct:7 1988:6 planned:2 1987:1 first:2 nine:2 month:2 year:9 3:6 6:1 say:9 national:2 income:1 near:1 equivalent:1 gross:1 product:1 1:1 grain:2 production:1 235:1 mln:3 tonne:2 compare:1 232:1 union:2 produce:1 210:1 1986:3 press:1 heavy:1 rain:1 affect:1 harvest:1 stress:1 engineering:2 industry:4 kremlin:2 leader:1 mikhail:1 gorbachev:1 describe:1 sector:1 rapid:1 modernisation:1 essential:1 compete:1 effectively:1 world:1 market:1 certain:1 difficulty:1 arise:1 machine:3 building:2 economy:1 receive:1 considerable:1 amount:1 equipment:1 require:1 head:1 state:2 committee:1 gosplan:1 datum:1 show:1 make:1 tool:1 instrument:1 good:1 increase:2 period:1 well:1 7:1 ruling:1 politburo:1 conclude:1 recent:1 meeting:1 improvement:1 economic:1 performance:1 depend:1 large:2 extent:1 conserve:1 resource:2 better:1 scale:1 measure:1 save:1 finance:1 minister:1 boris:1 gustev:1 defence:1 spending:2 would:2 total:1 20:1 2:1 billion:3 rouble:3 announce:1 last:1 also:1 decide:1 next:1 medical:1 service:1 education:1 pension:1 social:1 insurance:1 scheme:1 expenditure:1 field:1 reach:1 171:1 originally:1 envisage:1 1990:1 five:1 | SOVIET UNION SETS 4.5 PCT INDUSTRIAL OUTPUT GROWTH
Soviet Planning chief Nikolai Talyzin told
the Supreme Soviet (parliament) industrial output is planned to
rise by 4.5 pct in 1988, up from a planned 4.4 pct in 1987.
In the first nine months of this year, industrial output
rose by 3.6 pct.
Talyzin said national income, the nearest Soviet equivalent
to gross national product, is planned to rise by 4.3 pct
against a planned 4.1 pct this year.
He said grain production is planned at 235 mln tonnes in
1988, compared with a planned 232 mln this year.
The Soviet Union produced 210 mln tonnes of grain in 1986
and the Soviet press has said heavy rain has affected the
harvest this year.
Talyzin said the 1988 Soviet plan stressed the engineering
industry, which Kremlin leader Mikhail Gorbachev has described
as a sector where rapid modernisation is essential if the
Soviet Union is to compete effectively on world markets.
'Certain difficulties have arisen this year in the
machine-building industry. The economy is not receiving a
considerable amount of the equipment that it requires,' said
Talyzin, who heads the state planning committee Gosplan.
Soviet data show the machine-building industry, which makes
machine tools, instruments and other engineering goods,
increased output by 3.3 pct in the first nine months of this
year against the same period of 1986. This is well below the
7.3 pct rise planned for the industry for all of 1988.
Talyzin said the ruling Politburo concluded at a recent
meeting that an improvement in economic performance depended to
a large extent on conserving resources better. 'Large-scale
measures are planned to save resources,' he said.
Finance Minister Boris Gustev told the Supreme Soviet
defence spending in 1988 would total 20.2 billion roubles, the
same as announced last year.
Talyzin said the Kremlin also had decided to increase
spending next year on medical services, education, pensions and
social insurance schemes
He said state expenditures in these fields would reach 171
billion roubles in 1988, or 3.5 billion roubles more than had
originally been envisaged in the 1986-1990 Five-Year Plan.
|
test/21427 | test/21427 |@title idc:2 services:2 agree:2 acquire:2 16:2 dlrs:2 share:2 apollo:2 partners:2 group:2 |@word | IDC SERVICES AGREES TO BE ACQUIRED FOR 16 DLRS A SHARE BY APOLLO PARTNERS GROUP
IDC SERVICES AGREES TO BE ACQUIRED FOR 16 DLRS A SHARE BY APOLLO PARTNERS GROUP
|
test/21429 | test/21429 |@title management:1 group:1 restaurant:1 ra:1 majority:1 |@word restaurant:1 associates:1 industries:1 inc:1 say:2 management:1 group:1 lead:1 chairman:1 martin:1 brody:1 president:1 max:1 pine:1 october:1 16:1 receive:1 1:2 796:1 727:1 class:3 766:1 091:1 b:1 share:3 response:1 tender:2 offer:1 18:1 dlrs:1 give:1 thema:1 majority:1 company:1 extend:1 november:1 6:1 | MANAGEMENT GROUP HAS RESTAURANT <RA> MAJORITY
Restaurant Associates Industries Inc
said the management group led by chairman Martin Brody and
president Max Pine through October 16 had received 1,796,727
Class A and 1,766,091 Class B shares in response to its tender
offer for all shares at 18 dlrs each, giving thema majority of
each class of shares.
The company said the tender has been extended until
November 6.
|
test/21430 | test/21430 |@title xidex:1 corp:1 xidx:1 1st:1 qtr:1 sept:1 30:1 net:1 |@word shr:1 13:1 ct:2 vs:3 22:1 net:2 5:1 452:1 000:3 9:1 789:1 sale:2 155:1 7:1 mln:2 135:1 1:1 note:1 prior:1 year:1 include:1 gain:1 6:1 556:1 dlrs:1 share:1 seagate:1 technology:1 corp:1 sgat:1 | XIDEX CORP <XIDX.O> 1ST QTR SEPT 30 NET
Shr 13 cts vs 22 cts
Net 5,452,000 vs 9,789,000
Sales 155.7 mln vs 135.1 mln
NOTE: Prior year net includes gain 6,556,000 dlrs from sale
of shares of Seagate Technology Corp <SGAT.O>.
|
test/21431 | test/21431 |@title calfed:1 inc:1 cal:1 3rd:1 qtr:1 net:1 |@word shr:4 1:3 99:1 dlrs:8 vs:6 2:1 05:1 dilute:2 80:1 75:1 net:2 50:1 0:1 mln:4 48:1 5:3 nine:1 month:1 37:1 69:1 4:2 87:1 76:1 134:1 6:2 129:1 | CALFED INC <CAL> 3RD QTR NET
shr 1.99 dlrs vs 2.05 dlrs
diluted shr 1.80 dlrs vs 1.75 dlrs
net 50.0 mln vs 48.5 mln
nine months
shr 5.37 dlrs vs 5.69 dlrs
diluted shr 4.87 dlrs vs 4.76 dlrs
net 134.6 mln vs 129.6 mln
|
test/21435 | test/21435 |@title security:1 pacific:1 corp:1 spc:1 3rd:1 qtr:1 net:1 |@word shr:2 1:4 16:1 dlrs:3 vs:6 09:1 net:2 128:1 mln:8 118:1 3:2 avg:2 shrs:2 108:2 8:1 105:2 7:1 nine:1 month:1 40:1 ct:1 12:1 53:1 2:2 335:1 0:1 note:1 prior:1 period:1 datum:1 restate:1 include:1 pooling:1 interest:1 basis:1 august:1 31:1 1987:1 acquisition:1 rainier:1 bancorporation:1 | SECURITY PACIFIC CORP <SPC> 3RD QTR NET
Shr 1.16 dlrs vs 1.09 dlrs
Net 128.1 mln vs 118.3 mln
Avg Shrs 108.8 mln vs 105.7 mln
Nine Months
Shr 40 cts vs 3.12 dlrs
Net 53.2 mln vs 335.1 mln
Avg Shrs 108.0 mln vs 105.2 mln
Note: Prior-period data have been restated to include on a
pooling-of-interest basis the August 31, 1987, acquisition of
Rainier Bancorporation.
|
test/21436 | test/21436 |@title phelps:1 dodge:1 corp:1 pd:1 3rd:1 qtr:1 net:1 |@word shr:2 1:3 77:1 dlrs:4 vs:6 60:1 ct:1 net:3 58:1 2:1 mln:7 19:1 4:2 revs:2 377:1 188:1 0:1 nine:1 mth:1 3:3 10:1 51:1 100:1 50:1 6:1 11:1 billion:1 639:1 7:1 note:1 3rd:1 qtr:1 1987:1 include:1 000:2 tax:1 extraordinary:1 gain:1 retirement:1 debt:1 | PHELPS DODGE CORP <PD> 3RD QTR NET
Shr 1.77 dlrs vs 60 cts
Net 58.2 mln vs 19.4 mln
Revs 377.4 mln vs 188.0 mln
Nine mths
Shr 3.10 dlrs vs 1.51 dlrs
Net 100.3 mln vs 50.6 mln
Revs 1.11 billion vs 639.7 mln
NOTE: 3rd qtr 1987 net includes about 3,000,000 dlrs
after-tax extraordinary gain on retirement of debt.
|
test/21437 | test/21437 |@title crane:1 co:1 cr:1 3rd:1 qtr:1 net:1 |@word shr:3 70:1 ct:3 vs:8 54:1 net:3 16:1 7:1 mln:13 12:1 5:2 revs:2 343:1 6:1 323:1 1:4 avg:2 shrs:2 23:2 9:3 24:3 8:2 nine:2 mth:2 98:1 dlrs:2 46:1 27:1 960:1 893:1 2:3 note:1 1986:1 figure:1 reflect:1 adjustment:1 3:1 split:1 may:1 1987:2 include:1 cumulative:1 effect:1 change:1 account:1 gain:1 pension:1 asset:1 reversion:1 10:1 42:1 | CRANE CO <CR> 3RD QTR NET
Shr 70 cts vs 54 cts
Net 16.7 mln vs 12.5 mln
Revs 343.6 mln vs 323.1 mln
Avg shrs 23.9 mln vs 24.8 mln
Nine mths
Shr 1.98 dlrs vs 1.23 dlrs
Net 46.9 mln vs 27.8 mln
Revs 960.5 mln vs 893.2 mln
Avg shrs 24.2 mln vs 24.9 mln
NOTE: 1986 figures reflect the adjustment for 3-for-2 split
in May 1987.
Net for nine mths 1987 includes a cumulative effect of a
change in accounting for gain on pension assets reversion of
10.1 mln or 42 cts a shr.
|
test/21440 | test/21440 |@title telex:2 corp:2 investigate:2 alternative:2 tlx:2 partner:2 bid:2 may:2 seek:2 purchaser:2 |@word | TELEX CORP TO INVESTIGATE ALTERNATIVES TO TLX PARTNERS BID, MAY SEEK OTHER PURCHASERS
TELEX CORP TO INVESTIGATE ALTERNATIVES TO TLX PARTNERS BID, MAY SEEK OTHER PURCHASERS
|
test/21441 | test/21441 |@title lotus:1 development:1 corp:1 lot:1 3rd:1 qtr:1 net:1 |@word shr:2 42:1 ct:3 vs:8 21:1 net:2 19:1 1:3 mln:11 9:1 528:1 000:1 sale:2 101:1 2:1 65:1 6:2 avg:2 shrs:2 46:2 0:4 nine:1 mth:1 08:1 dlrs:1 69:1 49:1 32:1 7:1 280:1 201:1 45:1 47:1 4:1 note:1 share:1 adjust:1 february:1 1987:1 two:1 one:1 split:1 | LOTUS DEVELOPMENT CORP <LOTS.O> 3RD QTR NET
Shr 42 cts vs 21 cts
Net 19.1 mln vs 9,528,000
Sales 101.2 mln vs 65.6 mln
Avg shrs 46.0 mln vs 46.0 mln
Nine mths
Shr 1.08 dlrs vs 69 cts
Net 49.1 mln vs 32.7 mln
Sales 280.0 mln vs 201.0 mln
Avg shrs 45.6 mln vs 47.4 mln
NOTE: Share adjusted for February 1987 two-for-one split.
|
test/21443 | test/21443 |@title iran:1 say:1 u:1 naval:1 force:1 attack:1 two:1 platform:1 |@word iran:2 say:4 u:3 naval:1 force:1 attack:3 two:2 oil:5 platform:3 southern:1 gulf:1 monday:2 afternoon:1 iranian:4 news:1 agency:1 irna:2 report:1 receive:1 nicosia:1 informed:1 source:2 ministry:1 identify:1 resalat:1 reshadat:1 60:1 mile:2 lavan:1 island:1 storage:1 site:2 regional:1 shipping:1 earlier:1 three:1 offshore:1 sassan:1 rostam:1 rakhsh:1 7:1 00:1 0300:1 gmt:1 unidentified:1 aircraft:1 washington:1 defence:1 secretary:1 caspar:1 weinberger:1 four:1 destroyer:1 destroy:1 120:1 east:1 bahrain:1 | IRAN SAYS U.S. NAVAL FORCES ATTACKED TWO PLATFORMS
Iran said U.S. Naval forces attacked two
of its oil platforms in the southern Gulf on Monday afternoon,
the Iranian news agency IRNA reported.
IRNA, received in Nicosia, said an informed source at the
Iranian oil ministry identified the two platforms as Resalat
and Reshadat, about 60 miles from Iran's Lavan island oil
storage site.
Regional shipping sources earlier said three Iranian
offshore oil sites at Sassan, Rostam and Rakhsh had been
attacked at 7.00 A.M. (0300 GMT) on Monday by unidentified
aircraft.
In Washington, U.S. Defence Secretary Caspar Weinberger
said four U.S. Destroyers attacked and destroyed an Iranian oil
platform about 120 miles east of Bahrain.
|
test/21447 | test/21447 |@title southwest:1 bancorp:1 swb:1 3rd:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:6 82:1 ct:4 vs:6 profit:4 12:1 net:5 4:2 134:1 000:12 544:1 avg:2 shrs:2 5:1 030:1 3:4 927:2 nine:2 mth:2 80:1 32:1 615:1 1:1 457:1 557:1 note:1 1986:2 exclude:1 tax:2 carryforward:1 105:1 dlrs:2 quarter:2 195:1 include:2 212:1 dlr:2 credit:1 1987:1 period:1 700:1 addition:1 loan:1 reserve:1 due:1 mostly:1 one:1 state:1 real:1 estate:1 transaction:1 | SOUTHWEST BANCORP <SWB> 3RD QTR LOSS
Oper shr loss 82 cts vs profit 12 cts
Oper net loss 4,134,000 vs profit 544,000
Avg shrs 5,030,000 vs 3,927,000
Nine mths
Oper shr loss 80 cts vs profit 32 cts
Oper net loss 3,615,000 vs profit 1,457,000
Avg shrs 4,557,000 vs 3,927,000
NOTE: 1986 net excludes tax loss carryforwards of 105,000
dlrs in quarter and 195,000 dlrs in nine mths.
1986 quarter net includes 212,000 dlr tax credit.
1987 net both periods includes 3,700,000 dlr addition to
loan loss reserves due mostly to one out-of-state real estate
transaction.
|
test/21448 | test/21448 |@title gatx:1 corp:1 gmt:1 3rd:1 qtr:1 net:1 |@word shr:2 95:1 ct:4 vs:8 36:1 net:2 9:4 100:1 000:12 3:1 300:1 revs:2 143:1 7:1 mln:4 132:1 4:1 avg:2 shrs:2 884:1 780:1 nine:2 mth:1 2:3 77:1 dlrs:4 1:2 49:1 26:1 600:1 19:2 401:1 8:1 385:1 871:1 12:1 565:1 note:1 1986:1 earning:1 include:1 loss:1 discontinue:1 operation:1 10:1 share:2 quarter:1 gain:1 500:1 month:1 | GATX CORP <GMT> 3RD QTR NET
Shr 95 cts vs 36 cts
Net 9,100,000 vs 3,300,000
Revs 143.7 mln vs 132.4 mln
Avg shrs 9,884,000 vs 9,780,000
Nine mths
Shr 2.77 dlrs vs 1.49 dlrs
Net 26,600,000 vs 19,000,000
Revs 401.8 mln vs 385.2 mln
Avg shrs 9,871,000 vs 12,565,000
NOTE: 1986 earnings include a loss from discontinued
operations of 1,000,000 dlrs, or 10 cts a share in the quarter
and a gain of 2,500,000 dlrs, or 19 cts a share for the nine
months
|
test/21451 | test/21451 |@title microsoft:1 corp:1 msft:1 1st:1 qtr:1 net:1 |@word shr:1 38:1 ct:2 vs:3 29:1 net:1 21:1 3:1 mln:4 15:1 8:2 revs:1 102:1 6:1 66:1 | MICROSOFT CORP <MSFT.O> 1ST QTR NET
Shr 38 cts vs 29 cts
Net 21.3 mln vs 15.8 mln
Revs 102.6 mln vs 66.8 mln
|
test/21453 | test/21453 |@title cms:2 energy:1 corp:1 3rd:1 qtr:1 net:1 |@word shr:2 65:1 ct:3 vs:8 10:1 net:2 55:1 960:1 000:8 8:1 785:1 revs:2 588:1 2:2 mln:3 596:1 1:3 avg:2 shrs:2 85:1 710:1 87:1 987:1 nine:2 mth:1 24:2 dlrs:1 44:1 106:1 738:1 39:1 055:1 98:1 billion:2 86:1 320:1 88:1 007:1 note:1 1986:1 datum:1 restate:1 adoption:1 new:1 accounting:1 standard:1 relate:1 pension:1 1987:1 month:1 earning:1 include:1 331:1 dlr:1 tax:1 writeoff:1 4th:1 qtr:1 1985:1 portion:1 asset:1 company:1 midland:1 nuclear:1 project:1 | CMS ENERGY CORP <CMS> 3RD QTR NET
Shr 65 cts vs 10 cts
Net 55,960,000 vs 8,785,000
Revs 588.2 mln vs 596.1 mln
Avg shrs 85,710,000 vs 87,987,000
Nine mths
Shr 1.24 dlrs vs 44 cts
Net 106,738,000 vs 39,055,000
Revs 1.98 billion vs 2.24 billion
Avg shrs 86,320,000 vs 88,007,000
NOTE: 1986 data restated for adoption of new accounting
standard relating to pensions
1987 nine month earnings include 331 mln dlr after-tax
writeoff in the 4th Qtr of 1985 of a portion of the assets of
the company's Midland nuclear project
|
test/21454 | test/21454 |@title shamrock:1 complete:1 central:1 soya:1 sale:1 ferruzzi:1 |@word shamrock:3 capital:2 lp:1 say:1 complete:1 sale:1 cental:1 soya:1 co:1 inc:2 ferruzzi:3 agricola:1 finanziaria:1 hold:1 company:2 group:1 ravenna:1 italy:1 limited:1 partnership:1 lead:1 holdings:1 roy:1 e:1 disney:1 family:1 agreement:1 announce:1 last:1 month:1 acquire:1 equity:1 assume:1 subordinated:1 term:1 debt:1 195:1 mln:2 dlrs:2 transaction:1 value:1 370:1 | SHAMROCK COMPLETES CENTRAL SOYA SALE TO FERRUZZI
Shamrock Capital LP said it has
completed the sale of Cental Soya Co Inc to Ferruzzi Agricola
Finanziaria the holding company for the Ferruzzi group of
Ravenna, Italy.
Shamrock Capital is a limited partnership led by Shamrock
Holdings Inc, the Roy E. Disney family company.
Under the agreement announced last month, Ferruzzi acquired
all the equity and assumed subordinated term debt of about 195
mln dlrs in a transaction valued at about 370 mln dlrs.
|
test/21455 | test/21455 |@title curtice:1 burns:1 foods:1 inc:1 cbi:1 1st:1 qtr:1 net:1 |@word qtr:2 end:1 sept:1 25:1 shr:2 75:1 ct:4 vs:3 64:2 net:1 2:2 794:1 000:2 363:1 revs:1 157:1 8:1 mln:2 138:1 4:1 note:1 1986:2 figure:1 exclude:1 effect:1 tax:1 reform:1 act:1 retroactively:1 reduce:1 earning:1 56:1 per:1 | CURTICE BURNS FOODS INC <CBI> 1ST QTR NET
Qtr ends Sept 25
Shr 75 cts vs 64 cts
Net 2,794,000 vs 2,363,000
Revs 157.8 mln vs 138.4 mln
NOTE: 1986 qtr figures exclude effect of 1986 tax reform
act which retroactively reduced earnings from 64 cts to 56 cts
per shr.
|
test/21459 | test/21459 |@title u:2 naval:1 force:1 attack:1 iranian:1 oil:1 platform:1 |@word warship:1 attack:7 destroy:1 iranian:5 oil:5 platform:8 monday:1 retaliation:1 friday:2 damage:1 u:6 flagged:1 ship:1 defense:1 secretary:1 caspar:1 weinberger:8 say:10 ask:2 much:1 leave:1 nothing:1 reaction:1 consider:1 matter:1 closed:1 four:1 destroyer:1 120:1 mile:1 east:1 bahrain:1 central:1 gulf:2 fire:2 0700:1 edt:1 choose:2 use:2 iranians:1 interfere:1 source:1 potential:1 convoy:1 pentagon:1 briefing:1 know:2 indeed:1 launch:1 small:1 boat:1 shipping:1 helicopter:1 removal:1 contribute:1 significantly:1 safety:1 force:1 future:1 navy:1 operation:1 escort:1 tanker:1 seek:1 confrontation:1 iran:2 prepared:1 meet:1 escalation:1 military:1 action:1 strong:1 countermeasure:1 20:2 30:1 personnel:1 give:1 minute:1 warning:1 abandon:2 far:1 site:1 united:1 states:1 rather:1 silkworm:1 missile:1 blame:1 washington:1 | U.S. NAVAL FORCES ATTACK IRANIAN OIL PLATFORM
U.S. warships attacked and destroyed
an Iranian oil platform on Monday in retaliation for Friday's
Iranian attack damaging a U.S.-flagged ship, U.S. Defense
Secretary Caspar Weinberger said.
When asked how much was left of the oil platform,
Weinberger said, 'Nothing.'
'There was no Iranian reaction,' he said. '... We consider
this matter is now closed.'
Weinberger said four U.S. destroyers attacked the platform
about 120 miles east of Bahrain in the central Gulf with fire
at 0700 EDT, Weinberger said.
'We chose a platform used by the Iranians to interfere with
and be a source of potential attack on convoys...,' Weinberger
said at a Pentagon briefing.
'We know it has been used indeed, to not only launch small
boat attacks on shipping but to fire on U.S. helicopters...
'It's removal will contribute significantly to the safety of
U.S. forces in the future,' Weinberger said of the U.S. Navy's
operation to escort oil tankers through the Gulf.
'We do not seek further confrontation with Iran but we will
be prepared to meet any escalation of military actions by Iran
with stronger countermeasures,' Weinberger said.
He said the 20 to 30 Iranian personnel on the oil platform
were given a 20-minute warning to abandon the platform.
'As far as we know they did abandon the site,' he said.
Weinberger was asked why the United States had chosen to
attack an oil platform rather than Iranian Silkworm missile
platforms blamed by Washington for Friday's attack.
|
test/21460 | test/21460 |@title lindberg:1 co:1 lind:1 3rd:1 qtr:1 net:1 |@word shr:2 profit:6 10:1 ct:5 vs:7 eight:1 net:2 477:1 853:1 348:1 384:1 sale:2 17:2 7:1 mln:4 3:2 nine:1 mth:1 loss:2 35:1 45:1 1:2 639:1 216:1 2:2 305:1 700:1 56:1 57:1 avg:1 shrs:1 4:1 698:1 501:1 5:1 075:1 717:1 note:1 earning:1 2nd:1 qtr:1 1987:1 reduce:1 262:1 000:1 dlrs:1 69:1 share:1 charge:1 reflect:1 elimination:1 transfer:1 certain:1 product:1 line:1 operation:1 company:1 racine:1 wis:1 foundry:1 | LINDBERG CO <LIND.O> 3RD QTR NET
Shr profit 10 cts vs profit eight cts
Net profit 477,853 vs profit 348,384
Sales 17.7 mln vs 17.3 mln
Nine mths
Shr loss 35 cts vs profit 45 cts
Net loss 1,639,216 vs profit 2,305,700
Sales 56.2 mln vs 57.1 mln
Avg shrs 4,698,501 vs 5,075,717
NOTE: Earnings in the 2nd Qtr of 1987 were reduced by
3,262,000 dlrs, or 69 cts a share from a charge reflecting
elimination or transfer of certain product lines and operations
at the company's Racine, Wis. foundry
|
test/21462 | test/21462 |@title shamrock:1 complete:1 central:1 soya:1 sale:1 ferruzzi:1 |@word shamrock:3 capital:2 lp:1 say:1 complete:1 sale:1 cental:1 soya:1 co:1 inc:2 ferruzzi:3 agricola:1 finanziaria:1 hold:1 company:2 group:1 ravenna:1 italy:1 limited:1 partnership:1 lead:1 holdings:1 roy:1 e:1 disney:1 family:1 agreement:1 announce:1 last:1 month:1 acquire:1 equity:1 assume:1 subordinated:1 term:1 debt:1 195:1 mln:2 dlrs:2 trction:1 value:1 370:1 | SHAMROCK COMPLETES CENTRAL SOYA SALE TO FERRUZZI
Shamrock Capital LP said it has
completed the sale of Cental Soya Co Inc to Ferruzzi Agricola
Finanziaria the holding company for the Ferruzzi group of
Ravenna, Italy.
Shamrock Capital is a limited partnership led by Shamrock
Holdings Inc the Roy E. Disney family company.
Under the agreement announced last month, Ferruzzi acquired
all the equity and assumed subordinated term debt of about 195
mln dlrs in a trction valued at about 370 mln dlrs.
|
test/21465 | test/21465 |@title weinberger:2 say:2 u:2 force:2 attack:2 iranian:2 oil:2 platform:2 |@word | WEINBERGER SAYS U.S. FORCES ATTACKED IRANIAN OIL PLATFORM
WEINBERGER SAYS U.S. FORCES ATTACKED IRANIAN OIL PLATFORM
|
test/21466 | test/21466 |@title cable:1 wireless:1 restructure:1 h:1 k:1 unit:1 |@word cable:8 wireless:8 plc:2 cawl:1 l:1 say:1 subsidiary:3 hong:10 kong:10 telephone:3 co:1 ltd:2 would:2 cease:1 list:1 company:4 follow:1 restructure:1 unit:1 earlier:1 today:1 announce:1 territory:1 government:3 20:1 pct:7 stake:3 become:1 newly:1 form:1 hold:2 telecommunications:2 exchange:1 capital:1 issue:3 4:1 18:1 billion:2 new:1 share:3 far:1 east:1 group:2 80:2 22:1 h:1 k:1 additional:1 1:1 05:1 goverment:1 leave:1 telecommunication:2 11:2 nine:1 public:1 hand:1 reduce:1 early:1 next:1 year:1 placement:1 | CABLE AND WIRELESS RESTRUCTURES H.K. UNITS
Cable and Wireless Plc <CAWL.L> said
its subsidiary <Hong Kong Telephone Co Ltd> would cease to be a
listed company, following the restructure of the company's Hong
Kong units.
Earlier today the company announced that Hong Kong
Telephone and Cable and Wireless Hong Kong, in which the
territory's government has a 20 pct stake, would become
subsidiaries of a newly formed holding company, Hong Kong
Telecommunications.
In exchange for the Cable and Wireless Hong Kong capital,
Hong Kong Telecommunications will issue 4.18 billion new shares
to Cable and Wireless Plc's Cable and Wireless (Far East) Ltd.
That subsidiary now holds the group's 80 pct stake in Cable
and Wireless Hong Kong and about 22 pct of H.K. Telephone.
It will issue an additional 1.05 billion shares to the
goverment.
That will leave the Cable and Wireless group with an 80 pct
stake in Hong Kong Telecommunications, the government 11 pct
and nine pct in public hands.
But that will be reduced early next year after a placement
of 11 pct of the issued shares of Hong Kong Telecommunications
by both Cable and Wireless and the government.
|
test/21468 | test/21468 |@title |@word bank:2 france:2 add:2 money:2 market:2 liquidity:2 7:2 3:2 4:2 pct:2 dealers:1 dealer:1 | Bank of France added money market liquidity at 7-3/4 pct - dealers
Bank of France added money market liquidity at 7-3/4 pct - dealers
|
test/21469 | test/21469 |@title gaf:3 group:1 reconsider:1 buyout:1 bid:1 |@word corp:1 say:4 management:1 group:3 lead:1 chairman:1 samuel:1 j:1 heyman:4 intend:2 reconsider:1 proposal:3 acquire:1 gaf:3 september:1 8:1 offer:4 64:1 00:1 dlrs:2 cash:1 2:2 50:1 principal:1 amount:1 15:1 pct:1 junior:1 subordinated:1 debenture:1 due:2 2007:1 share:2 700:1 000:1 33:1 5:1 mln:1 outstanding:1 letter:1 committee:1 independent:1 director:1 form:1 consider:1 modify:1 term:1 continue:1 bid:1 rise:1 interest:2 rate:2 financial:2 market:3 condition:2 considerable:1 time:2 elapse:1 since:2 original:2 submit:1 credit:1 experience:1 extraordinary:1 almost:1 unprecedented:1 deterioration:1 present:1 average:1 financing:1 propose:1 raise:1 connection:1 acquisition:1 increase:1 approximately:1 150:1 basis:1 point:1 promptly:1 review:1 available:1 option:1 include:1 revision:1 reflect:1 current:1 | GAF <GAF> GROUP RECONSIDERS BUYOUT BID
GAF Corp said the management group
led by chairman Samuel J. Heyman intends to reconsider its
proposal to acquire GAF.
On September 8, the group offered 64.00 dlrs in cash and
2.50 dlrs principal amount of 15 pct junior subordinated
debentures due 2007 for each GAF share. Heyman owns about
2,700,000 of GAF's 33.5 mln shares outstanding.
In a letter to the committee of independent directors
formed to consider the offer, Heyman said it will have to
modify the terms of the offer if it is to continue the bid, due
to rising interest rates and financial market conditions.
Heyman said 'In the considerable time that has elapsed
since our original proposal was submitted, the credit and
financial markets have experienced extraordinary and almost
unprecedented deterioration. As of the present time, the
average interest rate on the financing which we proposed to
raise in connection with the acquisition has increased, since
the original proposal, by approximately 150 basis points.'
He said the group intends to promptly review all available
options, including the revision of its offer to reflect current
market conditions.
|
test/21473 | test/21473 |@title korea:1 current:1 c:1 surplus:1 see:1 near:1 10:1 bln:1 dlrs:1 |@word south:3 korea:3 national:1 news:1 agency:2 yonhap:4 say:6 year:6 current:4 account:4 surplus:7 near:1 10:1 billion:8 dlrs:3 amid:1 sign:1 continue:1 high:1 world:1 demand:1 country:1 cheap:1 car:2 electronic:2 good:3 bank:2 official:1 would:2 neither:1 confirm:2 deny:1 forecast:1 issue:1 figure:1 later:1 week:1 january:1 september:4 cover:1 trade:2 service:1 total:1 7:3 03:1 already:1 exceed:1 seven:2 dlr:3 ceiling:1 whole:1 1987:2 government:4 set:1 june:1 talk:1 international:1 monetary:1 fund:1 aim:1 avert:1 rapid:1 revaluation:1 dollar:3 1:2 4:2 468:1 mln:2 august:1 899:1 early:1 export:3 october:1 could:1 relatively:1 modest:1 due:1 many:1 public:1 holiday:1 end:1 well:1 nine:1 close:1 ten:1 sharp:1 rise:1 come:1 resumption:1 delivery:1 delay:1 strike:1 previous:1 month:1 3:1 300:1 company:1 include:1 manufacturer:1 electric:1 firm:1 hit:1 labour:1 unrest:1 july:1 korean:1 originally:1 target:1 five:1 raise:1 reflect:1 startling:1 first:1 half:1 boom:1 soar:1 seem:1 certain:1 trigger:1 tough:1 pressure:2 united:1 states:1 record:1 deficit:1 seoul:1 last:1 economist:1 u:1 try:1 stem:1 protectionist:1 home:1 call:1 open:1 market:1 american:1 revalue:1 faster:1 fix:1 804:1 90:1 monday:1 represent:1 01:1 pct:1 gain:1 far:1 | S.KOREA CURRENT A/C SURPLUS SEEN NEAR 10 BLN DLRS
South Korea's national news agency, Yonhap,
said this year's current account surplus will near 10 billion
dlrs amid signs of continuing high world demand for the
country's cheap cars and electronic goods.
Bank of Korea officials would neither confirm nor deny the
Yonhap forecast, saying only that the bank would issue its own
figures later in the week.
Yonhap said the January-September surplus in the current
account, which covers trade in goods and services, totalled
7.03 billion dlrs.
This already exceeds the seven billion dlr ceiling for the
whole of 1987 that the government set in June during talks with
the International Monetary Fund aimed at averting a too rapid
revaluation of the won against the dollar.
The agency said the September surplus was 1.4 billion dlrs,
up from 468.1 mln in August and 899 mln a year earlier.
'Exports in October could be relatively modest due to many
public holidays, but by the end of this year the surplus will
be well over nine billion dollars, close to ten,' Yonhap said.
The sharp rise in the September surplus came from a
resumption of export deliveries delayed by strikes the previous
month.
More than 3,300 companies, including car manufacturers,
electronic and electric firms, were hit by labour unrest
between July and September.
The South Korean government originally targeted a five
billion dlr current account surplus this year, but had to raise
this to seven billion to reflect a startling first-half export
boom.
If confirmed, the soaring 1987 current account surplus
seemed certain to trigger tougher pressure from the United
States which recorded a 7.4 billion dlr trade deficit with
Seoul last year, government economists said.
The U.S. Government, trying to stem protectionist pressure
at home, has called on South Korea to open more markets to
American goods and revalue the won faster.
The won was fixed at 804.90 against the dollar on Monday,
representing a 7.01 pct gain so far this year.
|
test/21474 | test/21474 |@title ply:1 gem:1 industries:1 inc:1 pgi:1 3rd:1 qtr:1 net:1 |@word shr:4 30:2 ct:8 vs:12 17:2 dilute:4 net:2 3:1 454:1 000:5 1:1 546:1 sale:2 84:1 0:1 mln:11 59:1 2:3 avg:4 shrs:4 11:6 6:2 8:2 917:1 7:2 nine:1 mth:1 91:1 72:1 90:1 65:1 10:1 5:3 959:1 236:1 168:1 9:1 227:1 | PLY GEM INDUSTRIES INC <PGI> 3RD QTR NET
Shr 30 cts vs 17 cts
Shr diluted 30 cts vs 17 cts
Net 3,454,000 vs 1,546,000
Sales 84.0 mln vs 59.2 mln
Avg shrs 11.6 mln vs 8,917,000
Avg shrs diluted 11.7 mln vs 11.2 mln
Nine mths
Shr 91 cts vs 72 cts
Shr diluted 90 cts vs 65 cts
Net 10.5 mln vs 5,959,000
Sales 236.7 mln vs 168.9 mln
Avg shrs 11.5 mln vs 8,227,000
Avg shrs diluted 11.6 mln vs 11.2 mln
|
test/21475 | test/21475 |@title aircraft:1 attack:1 iranian:1 oil:1 rig:1 southern:1 gulf:1 |@word unidentified:1 jet:2 attack:7 three:1 iranian:2 oil:2 rig:2 southern:3 gulf:3 early:1 monday:1 set:2 least:2 one:2 ablaze:3 regional:1 shipping:3 source:4 say:6 earlier:1 today:1 washington:1 u:4 television:1 network:1 report:2 american:1 force:1 launch:2 retaliatory:1 strike:2 iran:4 late:2 sunday:2 two:2 offshore:2 drilling:1 platform:1 sassan:2 rostam:3 rakhsh:1 oilfield:1 0700:1 local:1 0300:1 gmt:1 wave:1 fighter:1 bomber:1 smoke:1 see:1 spiral:1 field:2 soon:1 target:2 also:1 believe:1 iraqi:1 air:1 past:1 baghdad:1 mission:1 prior:1 news:1 military:1 region:1 use:1 basis:1 helicopter:1 later:1 speedboat:1 neutral:1 ship:2 waterway:1 official:1 meet:1 response:2 since:1 friday:2 kuwaiti:1 port:1 severely:1 damage:1 flagged:1 president:1 reagan:1 already:1 make:1 decision:2 would:1 | AIRCRAFT ATTACK IRANIAN OIL RIGS IN SOUTHERN GULF
Unidentified jets attacked three Iranian
oil rigs in the southern Gulf early on Monday, setting at least
one of them ablaze, regional shipping sources said.
Earlier today in Washington, U.S. Television networks had
reported that American forces launched a retaliatory strike
against Iran late Sunday, attacking two Iranian offshore oil
drilling platforms and setting them ablaze.
The shipping sources said Iran's Sassan, Rostam and Rakhsh
offshore oilfields were attacked at 0700 local (0300 GMT) by a
wave of jet fighter bombers. Smoke was seen spiralling up from
the Rostam field soon after.
At least one of the other two targets was also believed to
be ablaze, the sources said.
The Sassan and Rostam fields have been targets for Iraqi
air strikes in the past, but Baghdad had not reported any
southern Gulf missions prior to news of the latest attack.
Shipping and military sources in the region have said Iran
used its southern Gulf rigs as bases to launch helicopter and
later speedboat attacks on neutral ships in the waterway.
U.S. Officials had been meeting on a response since Friday
when an attack on a Kuwaiti port severely damaged a
U.S.-flagged ship. President Reagan said on Sunday he had
already made a decision on the U.S. Response to Friday's Iran
attack but would not say what the decision was.
|
test/21477 | test/21477 |@title deutsche:1 bank:1 chief:1 say:1 louvre:1 pact:1 still:1 intact:1 |@word deutsche:1 bank:1 ag:1 joint:1 chief:1 executive:1 friedrich:1 wilhelm:1 christians:3 say:3 believe:1 louvre:3 accord:3 currency:1 stability:1 still:3 intact:1 tell:1 news:1 conference:1 meet:1 u:1 treasury:1 secretary:1 james:1 baker:2 last:1 two:1 week:1 short:1 term:1 german:2 interest:2 rate:2 rise:2 twice:1 sure:1 1:1 7720:1 mark:1 dollar:1 within:1 agreement:1 see:1 terminate:1 respond:1 question:1 comment:1 operative:1 criticise:1 west:1 | DEUTSCHE BANK CHIEF SAYS LOUVRE PACT STILL INTACT
Deutsche Bank AG joint chief executive
Friedrich Wilhelm Christians said he believed the Louvre accord
on currency stability was still intact.
Christians told a news conference he met U.S. Treasury
Secretary James Baker in the last two weeks, after short term
German interest rates had risen twice.
'I am sure that with 1.7720 marks the dollar is still within
the Louvre agreement. I do not see that the accord has been
terminated,' Christians said. He was responding to questions
about comments by Baker, who said the Louvre accord was still
operative but criticised rises in West German interest rates.
|
test/21478 | test/21478 |@title gaf:2 corp:2 say:2 management:2 group:2 reconsider:2 acquisition:2 proposal:2 |@word | GAF CORP SAID MANAGEMENT GROUP TO RECONSIDER ACQUISITION PROPOSAL
GAF CORP SAID MANAGEMENT GROUP TO RECONSIDER ACQUISITION PROPOSAL
|
test/21479 | test/21479 |@title emulex:1 corp:1 emlx:1 1st:1 qtr:1 sept:1 27:1 net:1 |@word shr:1 13:2 ct:2 vs:4 12:2 net:1 1:2 612:1 000:2 571:1 revs:1 28:1 8:2 mln:4 25:1 0:1 avg:1 shrs:1 3:1 | EMULEX CORP <EMLX.O> 1ST QTR SEPT 27 NET
Shr 13 cts vs 12 cts
Net 1,612,000 vs 1,571,000
Revs 28.8 mln vs 25.0 mln
Avg shrs 12.8 mln vs 13.3 mln
|
test/21480 | test/21480 |@title lyphomed:1 inc:1 lme:1 3rd:1 qtr:1 net:1 |@word shr:2 18:1 ct:4 vs:8 13:1 net:2 5:2 436:1 000:8 3:1 888:1 sale:2 43:1 9:1 mln:4 31:1 avg:2 shrs:2 30:2 145:1 28:1 976:1 nine:1 mth:1 51:1 38:1 15:1 320:1 11:1 098:1 123:1 6:1 91:1 2:1 157:1 29:1 046:1 note:1 earning:1 adjust:1 three:1 two:1 stock:1 split:1 pay:1 june:1 20:1 1986:1 | LYPHOMED INC <LMED.O> 3RD QTR NET
Shr 18 cts vs 13 cts
Net 5,436,000 vs 3,888,000
Sales 43.9 mln vs 31.5 mln
Avg shrs 30,145,000 vs 28,976,000
Nine mths
Shr 51 cts vs 38 cts
Net 15,320,000 vs 11,098,000
Sales 123.6 mln vs 91.2 mln
Avg shrs 30,157,000 vs 29,046,000
NOTE: Earnings adjusted for three-for-two stock split paid
June 20, 1986
|
test/21482 | test/21482 |@title aircraft:1 attack:1 iranian:1 oil:1 rig:1 southern:1 gulf:1 |@word unidentified:1 jet:1 raid:1 three:1 iranian:1 oil:1 rig:1 southern:1 gulf:1 monday:1 set:1 least:1 one:1 ablaze:1 regional:1 shipping:1 source:1 say:1 | AIRCRAFT ATTACK IRANIAN OIL RIGS IN SOUTHERN GULF
Unidentified jets raided three Iranian
oil rigs in the southern Gulf on Monday, setting at least one
of them ablaze, regional shipping sources said.
|
test/21484 | test/21484 |@title shipping:2 source:2 say:2 unidentified:2 jet:2 raid:2 iranian:2 oil:2 platform:2 southern:2 gulf:2 |@word | SHIPPING SOURCES SAY UNIDENTIFIED JETS RAID IRANIAN OIL PLATFORMS IN SOUTHERN GULF
SHIPPING SOURCES SAY UNIDENTIFIED JETS RAID IRANIAN OIL PLATFORMS IN SOUTHERN GULF
|
test/21485 | test/21485 |@title |@word unidentified:2 jet:2 raid:2 iranian:2 oil:2 platform:2 southern:2 gulf:2 shipping:2 source:2 | Unidentified jets raid Iranian oil platforms in southern Gulf - shipping sources
Unidentified jets raid Iranian oil platforms in southern Gulf - shipping sources
|
test/21486 | test/21486 |@title saudi:1 remain:1 key:1 lpg:1 supplier:1 japan:1 |@word saudi:17 arabia:10 likely:2 remain:1 key:1 supplier:3 liquefy:1 petroleum:1 gas:2 lpg:16 japan:9 least:1 next:2 five:1 year:4 oil:4 industry:2 source:11 say:17 diversify:1 supply:9 propane:1 butane:1 stable:1 continue:1 bank:1 arabian:3 capability:1 associate:1 crude:3 guarantee:1 output:1 capacity:1 reliable:1 sense:1 one:2 trader:3 import:7 50:1 pct:11 single:2 nation:1 could:3 substitute:1 commit:1 japanese:8 buyer:5 quell:1 fear:2 mideast:1 gulf:3 easily:1 disrupt:1 wake:1 heightened:1 hostility:1 area:1 another:1 cut:2 shipment:3 elsewhere:1 20:2 september:1 fire:1 put:1 major:2 plant:1 al:1 juaimah:1 operation:1 october:1 back:1 contractual:3 volume:5 able:1 boost:1 export:1 port:1 attack:1 shipping:1 iran:2 iraq:1 center:1 rather:1 product:1 carrier:1 lull:1 disruption:1 iranian:1 blockade:1 strait:1 hormuz:1 unlikely:2 would:2 block:1 greatly:1 rise:1 fall:1 domestic:1 demand:2 growth:1 estimate:1 moderate:1 2:1 1:2 1986:1 1991:1 term:6 expect:1 lift:1 slightly:1 low:1 january:2 1987:2 indonesia:1 slate:1 increase:2 customer:5 slash:1 purchase:3 large:1 scale:1 annual:1 indonesian:1 95:3 mln:5 tonne:4 early:1 1989:1 319:1 000:1 end:1 march:1 sluggish:1 summer:1 phase:2 secure:1 lower:2 price:9 cargo:2 spot:2 market:1 12:1 5:1 3:3 contract:5 two:1 80:2 middle:1 east:1 state:1 company:1 petromin:5 make:1 concession:1 recent:1 round:1 renewal:1 talk:3 accept:1 offer:2 however:1 far:1 unsuccessful:1 establish:1 transparent:1 formula:1 replace:1 exist:1 unilateral:1 monthly:2 notice:1 pay:1 notify:1 month:2 recently:1 fob:1 set:3 87:1 17:1 52:1 dlrs:1 per:1 barrel:1 government:1 selling:1 gsp:2 light:2 reserve:1 right:1 lifting:1 rate:1 90:1 trade:1 also:1 suggest:1 seller:2 option:1 contractural:1 subject:1 agreement:1 present:1 automatically:1 10:1 want:1 profitable:1 basis:1 factor:1 85:1 official:1 importer:1 freight:1 cost:1 high:2 come:1 southeast:1 asia:1 due:1 long:1 haul:1 war:1 risk:1 insurance:1 payment:1 visit:1 finalise:1 separate:1 focus:1 period:1 similar:1 current:1 level:1 business:1 seek:1 profitability:1 sometimes:1 forget:1 vulnerability:1 dependence:1 | SAUDI TO REMAIN AS KEY LPG SUPPLIER TO JAPAN
Saudi Arabia is likely to remain the key
supplier of liquefied petroleum gas (LPG) to Japan for at least
the next five years, oil industry sources said.
Japan, while diversifying its supply sources of propane and
butane for stable supplies, will continue to bank on Saudi
Arabian LPG, the sources said.
They said Saudi's supply capabilities of LPG, an associate
of crude oil, is guaranteed by its crude output capacity. 'Saudi
is a reliable supplier in that sense,' said one trader.
Japan imports about 50 pct of its LPG from Saudi Arabia.
No single nation could substitute for Saudi Arabia as an
LPG supply source to Japan, the sources said.
'Saudi Arabia has committed itself to Japanese LPG buyers,
which has quelled fears that LPG supplies from the Mideast Gulf
could easily be disrupted in the wake of heightened hostilities
in that area,' said another trader.
Saudi Arabia cut LPG shipments to Japan and elsewhere by 20
pct in September after a fire put a major gas plant at
Al-Juaimah out of operation. October shipments were back to
contractual volumes as Saudi was able to boost exports from
other ports.
Attacks on Gulf shipping by Iran and Iraq centered on crude
rather than products carriers, which has lulled fears of LPG
supply disruptions, traders said.
They said an Iranian blockade of the Strait of Hormuz was
unlikely because it would block Iran's oil shipments.
Industry sources said Japan's LPG imports will not greatly
rise or fall as its domestic demand growth is estimated at a
moderate 2.1 pct a year from 1986 through 1991.
Japanese term buyers of Saudi LPG are expected to lift
slightly lower volumes from January 1987, when imports from
Indonesia are slated to increase, the sources said.
The customers are unlikely to slash Saudi term purchases in
large scale when Japan increases annual imports of Indonesian
LPG to 1.95 mln tonnes in early 1989 from 319,000 tonnes in the
year ended March 1987, the sources said.
But when demand is sluggish in summer, they will phase down
term purchases of Saudi LPG and secure lower-priced cargoes on
the spot market, they said.
Japan imports some 12 mln tonnes of LPG a year, of which
5.3 mln tonnes are supplied by Saudi Arabia, 3.3 mln under term
contracts and two mln through spot purchases. Some 80 pct of
Japan's LPG imports are from the Middle East.
Saudi Arabia's state owned oil company Petromin has made
some concessions on term prices to Japanese customers in the
recent round of contract renewal talks, and it is likely the
Japanese will accept the offer, the sources said.
The Japanese term customers, however, have so far been
unsuccessful in establishing a transparent price formula to
replace the existing unilateral monthly price notice.
Japanese buyers pay Saudi Arabia a price notified by
Petromin each month. Most recently the FOB price was set at 87
pct of the 17.52 dlrs per barrel government selling price (GSP)
of Arabian Light.
Buyers reserve the right to phase down or out liftings
should the monthly price be set at over 95 pct of Arabian
Light's GSP.
Petromin has offered to lower this rate to 90 pct from the
95 pct for contracts with Japanese customers from next January,
the trade sources said.
Petromin also suggested that a seller's option of supplying
up to 20 pct more than the contractural volume be subject to
seller-buyer agreement.
Under the present contract, Petromin can automatically cut
supplies up to 10 pct of the contractual volume.
'If you want to import LPG from Saudi Arabia on a profitable
basis, you have to set the price factor at 80 to 85 pct,' said
an official at a major importer. 'Freight costs are higher for
cargoes coming from the Gulf than Southeast Asia due to a
longer haul and war risk insurance payments.'
Japanese customers will visit Saudi Arabia this month to
finalise their separate contract talks, now focusing on
contractual period and volume, which could be very similar to
current levels, the sources said. 'When we talk business, we
would seek profitability and sometimes forget vulnerability of
high dependence on a single supplier,' said one.
|
test/21488 | test/21488 |@title intellicorp:1 inai:1 1st:1 qtr:1 sept:1 30:1 loss:1 |@word shr:1 loss:4 nine:1 ct:2 vs:5 12:1 net:2 649:1 000:9 850:1 revs:1 5:1 059:1 4:1 084:1 avg:1 shrs:1 7:1 041:1 6:1 900:1 note:1 current:1 year:1 include:1 charge:1 152:1 dlrs:3 amortization:1 previously:1 capitalize:2 software:1 cost:2 product:1 development:1 276:1 640:1 | INTELLICORP <INAI.O> 1ST QTR SEPT 30 LOSS
Shr loss nine cts vs loss 12 cts
Net loss 649,000 vs loss 850,000
Revs 5,059,000 vs 4,084,000
Avg shrs 7,041,000 vs 6,900,000
NOTE: Current year net includes charge 152,000 dlrs from
amortization of previously capitalized software costs.
Capitalized product development costs 276,000 dlrs vs 640,000
dlrs.
|
test/21489 | test/21489 |@title owens:1 minor:1 inc:1 obod:1 3rd:1 qtr:1 net:1 |@word shr:4 36:2 ct:7 vs:12 dilute:4 34:1 31:1 net:2 1:3 679:1 000:12 418:1 sale:2 147:1 2:1 mln:4 121:1 5:5 avg:4 shrs:4 4:3 608:1 3:4 963:1 585:1 463:1 nine:1 mth:1 04:1 dlrs:1 86:1 93:1 77:1 387:1 393:1 420:1 338:1 7:1 233:1 948:1 564:1 468:1 | OWENS AND MINOR INC <OBOD.O> 3RD QTR NET
Shr 36 cts vs 36 cts
Shr diluted 34 cts vs 31 cts
Net 1,679,000 vs 1,418,000
Sales 147.2 mln vs 121.5 mln
Avg shrs 4,608,000 vs 3,963,000
Avg shrs diluted 5,585,000 vs 5,463,000
Nine mths
Shr 1.04 dlrs vs 86 cts
Shr diluted 93 cts vs 77 cts
Net 4,387,000 vs 3,393,000
Sales 420.3 mln vs 338.7 mln
Avg shrs 4,233,000 vs 3,948,000
Avg shrs diluted 5,564,000 vs 5,468,000
|
test/21490 | test/21490 |@title trinova:1 corp:1 tnv:1 3rd:1 qtr:1 net:1 |@word shr:2 52:1 ct:3 vs:10 43:1 net:3 17:1 7:3 mln:16 14:1 2:3 sale:3 413:1 1:5 361:1 6:3 avg:2 shrs:2 34:1 3:2 30:1 nine:2 mth:2 oper:2 58:1 dlrs:5 66:1 53:1 9:1 26:1 22:1 billion:2 08:1 33:1 5:1 35:1 note:1 1986:1 include:1 20:1 dlr:3 provision:1 restructuring:1 exclude:1 85:1 0:1 gain:2 discontinue:2 glass:1 business:1 330:1 000:1 operation:1 quarter:1 order:1 350:1 296:1 backlog:1 507:1 444:1 4:1 | TRINOVA CORP <TNV> 3RD QTR NET
Shr 52 cts vs 43 cts
Net 17.7 mln vs 14.2 mln
Sales 413.1 mln vs 361.6 mln
Avg shrs 34.3 mln vs 30.3 mln
Nine mths
Oper shr 1.58 dlrs vs 66 cts
Oper net 53.9 mln vs 26.7 mln
Sales 1.22 billion vs 1.08 billion
Avg shrs 33.5 mln vs 35.2 mln
NOTE: 1986 nine mths net includes 20.6 mln dlr provision
for restructuring but excludes 85.0 mln dlr gain on sale of
discontinued glass business and 1,330,000 dlr gain from
discontinued operations.
Quarter orders 350.2 mln dlrs vs 296.7 mln dlrs. Backlog
507.6 mln dlrs vs 444.4 mln dlrs.
|
test/21492 | test/21492 |@title nbc:1 news:1 say:1 u:2 retaliate:1 iran:1 |@word television:1 network:2 say:7 monday:1 u:7 force:3 launch:1 retaliatory:1 strike:1 iran:3 late:2 sunday:3 apparently:1 attack:6 two:2 iranian:3 offshore:1 oil:3 drilling:1 platforms:1 nbc:1 news:2 understand:1 six:1 iranians:1 pull:1 sea:1 cautiously:1 platform:2 east:1 bahrain:1 ablaze:1 result:1 cbs:1 flatly:1 official:1 meet:1 response:2 since:1 friday:3 kuwaiti:2 port:1 severely:1 damage:1 flagged:2 ship:2 president:1 reagan:1 already:1 make:1 decision:2 would:1 defense:1 secretary:1 caspar:1 weinberger:1 saturday:1 water:1 almost:1 certainly:1 silkworm:1 missile:1 | NBC NEWS SAYS U.S. HAS RETALIATED AGAINST IRAN
U.S. television networks said on
Monday that U.S. forces launched a retaliatory strike against
Iran late Sunday, apparently attacking two Iranian offshore oil
drilling platforms.
NBC News said it understood six Iranians had been pulled
from the sea.
It said cautiously that U.S. forces attacked late Sunday
and that two Iranian oil platforms east of Bahrain were ablaze
as a result, but CBS News and other networks said flatly that
U.S. forces attacked the Iranian oil platforms.
U.S. officials had been meeting on a response since Friday
when an attack on a Kuwaiti port severely damaged a
U.S.-flagged ship.
President Reagan said on Sunday he had already made a
decision on the U.S. response to Friday's Iran attack but would
not say what the decision was.
Defense Secretary Caspar Weinberger said on Saturday the
attack on a U.S.-flagged ship in Kuwaiti waters on Friday was
almost certainly by an Iran Silkworm missile.
|
test/21493 | test/21493 |@title thai:1 trader:1 plan:1 maize:1 future:1 market:1 |@word thai:1 trader:3 plan:1 establish:1 company:2 regulate:2 maize:4 forward:2 trade:2 could:1 first:1 step:1 towards:1 commodity:4 future:3 exchange:2 dealer:1 say:2 internal:1 department:1 official:1 agree:1 last:1 week:1 commission:1 study:2 structure:1 trading:1 set:1 thailand:1 co:1 ltd:1 30:1 business:1 shareholder:1 act:1 broker:1 market:2 chanthong:1 pattamapong:1 ask:1 draw:1 succeed:1 may:1 extend:1 perhaps:1 sugar:1 rubber:1 | THAI TRADERS PLAN MAIZE FUTURES MARKET
Thai traders plan to establish a company
to regulate maize forward trading, in what could be a first
step towards a commodities futures exchange, maize dealers
said.
Traders and Internal Trade Department officials agreed last
week to commission a study on a structure to regulate maize
forward trading and to set up a company, Thailand Commodity
Exchange Co Ltd, with 30 businesses as shareholders who will
act as brokers in the futures market.
Chanthong Pattamapong, a commodities trader asked to to
draw up the study, said if the maize futures market succeeds it
may be extended to other commodities, perhaps sugar and rubber.
|
test/21496 | test/21496 |@title |@word bundesbank:2 buy:2 11:2 7:2 mln:2 dlrs:2 dollar:2 fix:2 lower:2 1:2 7740:2 mark:2 | Bundesbank buys 11.7 mln dlrs as dollar fixed lower at 1.7740 marks
Bundesbank buys 11.7 mln dlrs as dollar fixed lower at 1.7740 marks
|
test/21497 | test/21497 |@title indian:1 reserve:1 bank:1 tighten:1 credit:1 policy:1 |@word reserve:4 bank:15 india:1 say:5 tighten:1 credit:2 policy:3 commercial:2 raise:2 cash:3 ratio:3 0:2 5:2 pct:3 10:1 effective:1 october:1 24:1 move:2 announce:1 last:2 weekend:1 part:1 second:2 half:2 fiscal:2 1987:2 88:2 end:1 march:1 aim:1 curb:1 excess:1 liquidity:2 central:1 also:1 put:1 selective:1 control:2 advance:1 oilseed:1 vegetable:1 oil:1 foodgrain:1 trade:1 main:1 objective:1 fully:1 meet:1 requirement:1 agriculture:1 industry:1 export:1 prevent:1 excessive:1 monetary:2 expansion:2 governor:1 r:1 n:1 malhotra:2 tell:1 early:1 meeting:1 chief:1 executive:1 rate:1 must:1 keep:1 current:1 financial:1 year:2 deposit:2 rise:1 75:1 40:1 billion:4 rupee:3 first:1 six:1 month:1 66:1 92:1 period:1 accord:1 banker:2 mean:1 impound:1 five:1 banking:1 system:1 total:1 estimate:1 around:1 1:1 000:1 pressure:1 low:1 return:1 lending:1 investment:1 government:1 security:1 already:1 many:1 find:1 difficult:1 maintain:1 statutory:1 resort:1 heavy:1 inter:1 borrowing:1 one:1 | INDIAN RESERVE BANK TIGHTENS CREDIT POLICY
The Reserve Bank of India said it was
tightening its credit policy for commercial banks by raising
their cash reserve ratio by 0.5 pct to 10 pct, effective from
October 24.
The move, announced last weekend, is part of the bank's
policy for the second half of fiscal 1987/88 ending March and
is aimed at curbing excess bank liquidity.
The central bank also put selective controls on bank
advances to the oilseeds, vegetable oils and foodgrains trades.
'The policy's main objective is to fully meet the credit
requirements of agriculture, industry and exports, while
preventing excessive monetary expansion,' bank Governor R.N.
Malhotra told an earlier meeting of chief executives of banks.
Malhotra said the rate of monetary expansion must be kept
under control in the second half of the current financial year.
Bank deposits rose 75.40 billion rupees in the first six
months of fiscal 1987/88 against 66.92 billion in the same
period last year, according to the bank.
Bankers said the bank's move to raise the cash reserve
ratio by 0.5 pct will mean impounding about five billion rupees
from the banking system. Banks' total deposits are estimated at
around 1,000 billion rupees.
They said banks are under pressure because of low returns
on commercial lending and investments in government securities.
'Already many banks are finding it difficult to maintain
their statutory liquidity and cash reserve ratios and are
resorting to heavy inter-bank borrowings,' said one banker.
|
test/21501 | test/21501 |@title pentagon:1 information:1 iran:1 attack:1 rumor:1 u:1 |@word defense:2 department:1 spokesman:1 say:5 information:2 london:2 oil:1 stock:1 market:2 rumor:2 united:2 states:2 launch:2 retaliatory:1 strike:2 iran:3 attack:3 friday:3 damage:1 u:3 shi:1 anything:1 major:1 randy:1 morger:1 president:1 reagan:1 sunday:1 already:1 make:1 decision:2 response:1 would:1 secretary:1 caspar:1 weinberger:1 saturday:1 flagged:1 ship:1 kuwaiti:1 water:1 almost:1 certainly:1 silkworm:1 missile:2 offshore:1 iranian:1 installation:1 | PENTAGON HAS NO INFORMATION ON IRAN ATTACK RUMORS
A U.S. Defense Department spokesman
said he had no information on London oil and stock market
rumors that the United States had launched a retaliatory strike
against Iran for an attack on Friday that damaged a U.S. shi
'I don't have anything,' Major Randy Morger said. 'I have no
information at all.'
President Reagan said on Sunday he had already made a
decision on the U.S. response to Friday's Iran attack but would
not say what the decision was.
Defense Secretary Caspar Weinberger said on Saturday the
attack on a U.S.-flagged ship in Kuwaiti waters on Friday was
almost certainly by an Iran Silkworm missile.
Some of the rumors in the London markets were that the
United States had launched an offshore strike against Iranian
missile installations.
|
test/21502 | test/21502 |@title south:1 yemen:1 plan:1 oil:1 export:1 pipeline:1 mee:1 |@word south:3 yemen:4 plan:1 major:1 oil:2 pipeline:5 system:1 complete:1 18:1 month:1 time:1 start:2 export:2 initial:2 rate:1 100:1 000:2 barrel:1 per:1 day:1 bpd:2 middle:1 east:2 economic:1 survey:1 mees:4 say:5 government:1 approval:1 follow:1 visit:1 aden:2 high:1 rank:1 delegation:1 soviet:2 union:1 help:1 construct:1 line:1 engineering:1 study:1 nearly:1 finish:1 construction:1 expect:1 early:1 next:1 year:2 industry:1 newsletter:1 run:1 170:1 200:2 kms:2 105:1 125:1 mile:1 shabwa:2 oilfield:2 coastal:1 terminal:1 bir:1 ali:1 gulf:1 firm:1 technoexport:2 develop:1 oilfiled:1 substantially:1 increase:1 reserve:1 estimate:1 recommend:1 eventual:1 500:1 capacity:1 discovery:1 commercial:1 quaotitie:1 confirm:1 earlier:1 three:1 structure:1 region:1 northwestern:1 part:1 country:1 north:1 alif:1 | SOUTH YEMEN PLANS OIL EXPORT PIPELINE - MEES
South Yemen is planning a major oil
pipeline system to be completed in 18-months time to start
exports at a initial rate of 100,000 barrels per day, (bpd) the
Middle East Economic Survey (MEES) said.
MEES said government approval for the export pipeline
followed a visit to Aden by a high ranking delegation from the
Soviet Union, which will help South Yemen construct the line
The engineering studies for the pipeline are nearly
finished and construction is expected to start early next year,
the industry newsletter said.
The pipeline will run about 170-200 kms (105-125 miles)
from Shabwa oilfields to a coastal terminal at Bir 'Ali on the
Gulf of Aden, MEES said.
MEES said the Soviet firm Technoexport, which is
developing oilfileds for South Yemen, has substantially
increased its initial reserve estimates and recommended a
pipeline with an eventual 500,000 bpd capacity.
The discovery of commercial quaotities of oil was confirmed
by Technoexport earlier this year in three structures in the
Shabwa region in the Northwestern part of the country, 200 kms
east of North Yemen's Alif oilfield.
|
test/21503 | test/21503 |@title trafalgar:1 house:1 buy:1 u:1 builder:1 20:1 mln:1 dlrs:1 |@word trafalgar:2 house:2 plc:1 traf:1 l:1 say:2 acquire:1 entire:1 share:1 capital:5 homes:1 inc:1 u:1 20:1 mln:3 dlrs:3 cash:1 home:4 build:1 single:1 family:1 washington:1 c:1 area:1 also:1 active:1 land:2 developer:1 use:1 sale:2 builder:1 financial:1 year:2 end:1 february:1 1987:1 record:1 pre:1 tax:1 profit:1 3:1 7:1 turnover:1 58:1 421:1 bank:1 2:1 600:1 unit:1 current:1 company:1 expect:1 sell:1 500:1 | TRAFALGAR HOUSE BUYS U.S. BUILDER FOR 20 MLN DLRS
Trafalgar House Plc <TRAF.L> said it has
acquired the entire share capital of <Capital Homes Inc> of the
U.S. For 20 mln dlrs in cash.
Capital Homes builds single family homes in the Washington
D.C. Area and is also active as a land developer both for its
own use and for sale to other builders.
In the financial year to end February, 1987, Capital
recorded pre-tax profits of 3.7 mln dlrs on a turnover of 58
mln dlrs from the sale of 421 homes. Capital has a land bank of
some 2,600 units and in the current year the company expects to
sell 500 homes, Trafalgar House said.
|
test/21506 | test/21506 |@title kuwaiti:1 oil:1 export:1 say:1 affect:1 gulf:1 war:1 |@word kuwait:3 oil:3 export:2 affect:1 seven:2 year:3 iran:1 iraq:1 war:1 tanker:1 company:1 kotc:2 chairman:1 managing:1 director:1 abdul:1 fattah:1 al:2 bader:1 tell:1 kuwaiti:1 newspaper:2 exploit:1 available:1 opportunity:1 continue:1 without:1 reduction:1 anbaa:1 quote:1 say:2 make:1 profit:2 two:1 mln:2 dinar:1 dlrs:1 fiscal:1 end:1 last:1 june:1 predict:1 low:1 due:1 high:1 cost:1 chartering:1 operating:1 vessel:1 | KUWAITI OIL EXPORTS SAID NOT AFFECTED BY GULF WAR
Kuwait's oil exports have not been
affected by the seven-year Iran-Iraq war, Kuwait Oil Tanker
Company (KOTC) Chairman and Managing Director Abdul Fattah
al-Bader told a Kuwaiti newspaper.
'Kuwait has exploited all available opportunities to
continue exporting its oil without any reduction,' the Al-Anbaa
newspaper quoted him as saying.
He said KOTC made profits of more than two mln dinars
(seven mln dlrs) in the fiscal year ending last June, but
predicted lower profits this year due to higher costs for
chartering and operating vessels.
|
test/21508 | test/21508 |@title german:1 financial:1 policy:1 maker:1 rare:1 dissension:1 |@word karl:1 otto:1 poehl:15 head:2 west:6 germany:5 central:2 bank:3 finance:4 minister:1 gerhard:1 stoltenberg:9 normally:1 much:1 agreement:1 foreigner:1 doubt:1 independence:2 rare:1 public:1 row:3 ebullient:1 president:1 bundesbank:8 controversial:1 investment:2 tax:8 proposal:1 add:1 woe:1 country:3 already:2 nervous:1 financial:2 market:3 banker:7 say:13 tell:1 symposium:1 frankfurt:1 last:5 thursday:2 fear:2 would:5 raise:2 borrowing:2 cost:3 interest:4 rate:5 quickly:2 issue:1 statement:2 rebut:1 criticism:1 remain:1 attractive:1 place:1 foreign:2 investor:2 obvious:1 lack:1 coordination:1 ministry:2 instil:1 confidence:2 one:4 economist:4 london:1 broker:1 ask:1 identify:1 express:1 two:2 top:1 policy:3 maker:1 patch:1 relationship:1 steer:1 economy:2 particularly:1 difficult:2 time:1 plenty:1 objective:1 pressure:2 result:1 thing:1 get:1 back:1 normal:1 period:1 ill:1 feeling:1 commerzbank:2 ag:1 chief:1 juergen:1 pfister:2 news:1 october:2 9:1 government:6 plan:3 10:1 pct:1 withhold:1 wipe:2 billion:3 mark:4 share:1 bond:1 reel:1 rise:3 home:1 abroad:1 anger:1 way:2 announce:1 without:1 consult:1 adequately:1 allow:1 apparently:1 conflict:1 detail:1 dribble:1 unprepared:1 uncertain:1 57:1 59:1 extraordinary:1 lately:1 switch:1 hard:1 line:1 promote:2 deputy:1 helmut:3 schlesinger:3 jack:1 fight:1 inflationary:1 abandon:1 pragmatic:1 pursue:1 far:2 year:5 currency:1 stability:1 recent:1 sound:1 like:1 softly:1 speak:1 warn:1 speech:2 excessive:1 money:1 supply:1 growth:1 eventually:1 lead:3 price:1 majority:1 support:1 council:1 since:3 late:1 summer:1 represent:1 view:1 minority:1 house:1 dilemma:2 must:1 follow:1 entirely:1 another:2 german:2 attract:1 fund:1 push:2 hurt:1 exporter:1 dollar:2 shed:1 seven:1 pfennig:1 new:1 tack:1 become:1 clear:1 early:2 united:1 states:1 treasury:1 secretary:1 james:1 baker:1 criticize:2 increase:1 could:2 foreshadow:1 revival:1 1986:1 war:1 word:1 u:3 official:1 talk:2 force:1 stimulate:1 thus:1 suck:1 export:1 agree:1 make:1 round:1 cut:3 worth:1 39:1 1990:1 prove:1 bargain:1 cool:1 unflappable:1 northerner:1 regularly:1 vote:1 popular:1 politician:1 face:1 resistance:1 local:2 baron:1 coalition:2 party:2 trade:1 union:1 planned:1 subsidy:1 withholding:1 intend:1 plug:1 gap:1 4:1 3:1 cause:1 outcry:1 among:1 extra:1 amount:1 revenue:1 bring:1 meanwhile:1 deal:1 political:2 turn:1 bad:1 scandal:1 leave:1 monetary:1 washington:1 month:1 sort:1 northern:1 state:3 schleswig:1 holstein:1 rule:1 cdu:4 premier:1 uwe:1 barschel:2 resign:1 allegation:1 dirty:1 trick:1 election:2 campaign:1 heavy:1 loss:1 find:1 dead:1 hotel:1 bath:1 geneva:1 weekend:1 police:1 death:1 appear:1 suicide:1 cooperation:1 remarkable:1 opposition:1 social:1 democrats:1 appoint:1 former:1 chancellor:2 schmidt:1 contract:1 come:1 renewal:1 earlier:1 kohl:1 give:1 eight:1 term:1 werner:1 chrobok:2 manage:1 partner:1 bethmann:1 hope:1 man:1 soon:1 opinion:1 voice:1 many:1 feel:1 demonstrate:1 | GERMAN FINANCIAL POLICY MAKERS IN RARE DISSENSION
Karl Otto Poehl, head of West Germany's
central bank, and Finance Minister Gerhard Stoltenberg are
normally so much in agreement that some foreigners doubt the
central bank's independence.
But a rare public row between the ebullient Poehl,
president of the Bundesbank, and Stoltenberg, over a
controversial investment tax proposal, has added to the woes of
the country's already nervous financial markets, bankers said.
Poehl told an investment symposium in Frankfurt last
Thursday he feared the tax would raise borrowing costs and
interest rates
Stoltenberg quickly issued a statement rebutting Poehl's
criticism, saying West Germany would remain an attractive place
for foreign investors.
'The obvious lack of coordination between the Bundesbank and
Finance Ministry does not instil confidence in foreign
investors,' said one economist for a London broker, who asked
not to be identified.
Bankers here expressed confidence the two top financial
policy-makers would quickly patch up their relationship to
steer the economy through a particularly difficult time.
'There are plenty of objective pressures which will result
in things getting back to normal again after a period of ill
feeling,' said Commerzbank AG chief economist Juergen Pfister.
News on October 9 that the government was planning a 10 pct
withholding tax wiped billions of marks off shares and bonds in
a market already reeling from rising interest rates at home and
abroad.
Bankers said the Bundesbank was angered by the way the
finance ministry announced the plan -- without consulting the
Bundesbank adequately, and allowing apparently conflicting
details to dribble out into an unprepared and uncertain market.
Both Poehl, 57, and Stoltenberg, 59, have been under
extraordinary pressures lately.
Poehl has had to switch to the hard line promoted by his
deputy, Helmut Schlesinger, jacking up interest rates to fight
inflationary fears and abandoning the pragmatic policies he had
pursued so far this year to promote currency stability.
In recent statements Poehl has sounded more like
Schlesinger. For years the softly-spoken economist has been
warning in speech after speech that excessive money supply
growth would eventually lead to rising prices.
Schlesinger now has a majority of support in the Bundesbank
council, and since late summer Poehl has had to represent his
views, bankers said.
'Poehl is in a minority in his own house,' said Commerzbank's
Pfister.
'Poehl is in a dilemma. He must follow a policy that is not
entirely his own,' said another economist.
The dilemma is that if German interest rates rise too far,
they will attract funds into the country, pushing up the mark
and hurting West German exporters.
The dollar has now shed some seven pfennigs since the
Bundesbank's new tack became clear in early October.
Since last Thursday, United States Treasury Secretary James
Baker has criticized the Bundesbank rate increases.
Bankers said this could foreshadow a revival of the 1986
war of words between the U.S. And West Germany, in which U.S.
Officials talked down the dollar to force West Germany to
stimulate its economy and thus suck in more U.S. Exports.
One way West Germany agreed to do this was making a round
of tax cuts worth 39 billion marks from 1990.
But financing these tax cuts has proved more difficult for
Stoltenberg than he had bargained for.
The cool, unflappable northerner, who was regularly voted
most popular government politician last year, had to face
resistance from local barons in the government coalition
parties and from trade unions to his planned subsidy cuts.
The withholding tax was intended to plug one gap by raising
4.3 billion marks.
But it has caused an outcry among bankers, who say it will
push up borrowing costs. The extra amount this costs the
government could wipe out the revenue the tax brings in.
Meanwhile Stoltenberg is dealing with a local political row
which has turned into the country's worst political scandal.
Stoltenberg had to leave monetary talks in Washington last
month early to sort out a row in the northern state of
Schleswig-Holstein, where he heads the ruling CDU party.
The state's CDU premier, Uwe Barschel, had to resign after
allegations of a 'dirty tricks' election campaign led to heavy
losses for the CDU in state elections.
Barschel was found dead in a hotel bath in Geneva last
weekend. Police say the death appears to have been suicide.
Cooperation between Poehl and Stoltenberg is all the more
remarkable as Poehl is in the opposition Social Democrats, and
was appointed by former chancellor Helmut Schmidt.
When Poehl's contract came up for renewal earlier this
year, Chancellor Helmut Kohl's CDU-led coalition government
gave Poehl another eight-year term.
Werner Chrobok, managing partner at Bethmann Bank, said he
hoped the two men would soon be of one opinion again.
But when Poehl criticized Stoltenberg's tax plans he was
not only voicing what many bankers felt but demonstrating the
Bundesbank's independence of government, Chrobok said.
|
test/21510 | test/21510 |@title paper:1 say:1 venezuelan:1 central:1 bank:1 chief:1 resign:1 |@word venezuelan:2 central:2 bank:2 president:2 hernan:1 anzola:3 submit:1 resignation:1 ask:1 jaime:1 lusinchi:2 transfer:1 post:1 oil:1 industry:1 two:1 lead:1 newspaper:1 report:2 el:3 universal:1 nacional:2 papers:1 say:3 would:2 leave:1 position:1 soon:1 already:1 decide:1 successor:1 official:2 available:1 comment:1 banking:1 source:2 differ:1 finance:2 ministry:2 economic:1 policy:1 particularly:1 direction:1 interest:2 rate:3 favour:1 raise:1 currently:1 well:1 annual:1 inflation:2 33:1 2:1 pct:1 run:1 opposition:1 government:1 think:1 increase:1 fuel:1 | PAPERS SAY VENEZUELAN CENTRAL BANK CHIEF TO RESIGN
Venezuelan Central Bank President Hernan
Anzola has submitted his resignation and asked President Jaime
Lusinchi to transfer him to a post in the oil industry, two
leading Venezuelan newspapers reported.
The El Universal and El Nacional papers said Anzola would
leave his position soon. Lusinchi already has decided on his
successor, the El Nacional reported.
Central Bank officials were not available for comment.
Banking sources said Anzola differed with the Finance
Ministry over economic policy, particularly over the direction
of interest rates. He favoured raising the rates, which are
currently well below the annual inflation rate of 33.2 pct.
But the sources said he ran into opposition from Finance
Ministry and government officials who thought an interest
increase would fuel inflation.
|
test/21511 | test/21511 |@title |@word bundesbank:2 add:2 money:2 market:2 liquidity:2 3:4 70:2 80:2 pct:2 dealer:2 | Bundesbank adds money market liquidity at 3.70-3.80 pct -dealers
Bundesbank adds money market liquidity at 3.70-3.80 pct -dealers
|
test/21512 | test/21512 |@title balladur:1 insist:1 maintenance:1 louvre:1 accord:1 |@word french:1 finance:2 minister:2 edouard:1 balladur:2 issue:1 firm:2 call:2 continued:1 faithful:1 application:1 louvre:3 accord:6 currency:2 stability:2 major:3 industrial:2 country:2 respond:1 weekend:2 remark:1 u:2 treasury:1 secretary:1 james:1 baker:3 would:1 take:1 another:1 look:1 say:4 firmly:1 desire:1 faithfull:1 adherence:1 letter:1 spirit:2 sunday:1 last:3 week:1 rise:2 short:1 term:1 west:2 german:2 interest:1 rate:2 keeping:2 agree:2 paris:1 february:1 among:1 prolong:1 dollar:1 slide:1 reaffirm:1 group:1 seven:1 washington:1 month:1 really:1 expect:1 simply:1 sit:1 back:1 accept:1 increase:1 tightening:1 part:1 assumption:1 somehow:1 go:1 follow:1 add:1 | BALLADUR INSISTS ON MAINTENANCE OF LOUVRE ACCORDS
French Finance Minister Edouard Balladur
issued a firm call for the continued faithful application of
the Louvre accords on currency stability by all major
industrial countries.
Balladur, responding to weekend remarks by U.S. Treasury
Secretary James Baker that the U.S. Would take another look at
the accords, said 'I firmly desire a faithfull and firm
adherence by all the major industrial countries to the Louvre
accords -- in both their letter and spirit.'
On Sunday, Baker said last week's rise in short-term West
German interest rates was not in keeping with the accords.
The Louvre accords, agreed in Paris last February, called
for stability among the major currencies after a prolonged
dollar slide.
The accords were reaffirmed by the Group of Seven Finance
Ministers in Washington last month.
But Baker said at the weekend that the West German rate
rise was 'not in keeping with the spirit of what we agreed to.'
'What I'm really saying is that they should not expect us to
simply sit back here and accept increased tightening on their
part on the assumption that somehow we are going to follow
them,' he added.
|
test/21517 | test/21517 |@title iran:1 warn:1 u:1 raise:1 tension:1 gulf:1 |@word iran:6 warn:1 united:2 states:2 monday:1 exacerbate:1 gulf:2 crisis:1 say:5 would:2 endanger:1 american:2 interest:1 tehran:1 radio:3 monitor:1 british:1 broadcasting:1 corporation:1 spokesman:4 war:1 information:1 headquarters:1 respond:2 u:3 official:2 remark:1 take:1 military:2 action:2 also:1 quote:1 iranian:1 foreign:1 ministry:1 decisively:1 aggressive:1 measure:1 make:1 statement:1 follow:1 attack:1 kuwaiti:1 ship:1 flag:1 comment:1 carry:1 retaliatory:1 aggression:1 certainly:1 beginning:1 extensive:1 clash:1 persian:1 amidst:1 principle:1 policy:1 confront:1 act:1 escalate:1 tension:1 | IRAN WARNS U.S. AGAINST RAISING TENSION IN GULF
Iran warned the United States on Monday
against exacerbating the Gulf crisis, saying it would endanger
American interests.
Tehran Radio, monitored by the British Broadcasting
Corporation, said a spokesman for Iran's War Information
Headquarters was responding 'to U.S. Officials' remarks about
taking military action against Iran.'
The radio also quoted an Iranian Foreign Ministry spokesman
as saying Iran would respond decisively to any aggressive
measure by the United States.
The radio said the spokesman made the statement 'following
the attack on a Kuwaiti ship under the U.S. Flag and comments
by American officials on carrying out retaliatory action
against Iran.'
The spokesman said, 'Any U.S. Military aggression against
Iran will certainly be the beginning of an extensive clash in
the Persian Gulf, and amidst this our principled policy is to
confront any act which escalates tension.'
|
test/21519 | test/21519 |@title norway:1 current:1 account:1 deficit:1 |@word norway:1 current:1 account:1 show:1 9:2 billion:4 crown:3 deficit:2 first:2 seven:2 month:2 1987:1 19:1 7:1 year:1 ago:1 period:2 central:1 bureau:1 statistics:1 say:1 north:1 sea:1 oil:1 gas:1 revenue:1 rise:1 3:1 4:1 pct:1 32:1 6:1 january:1 july:1 compare:1 31:1 5:1 1986:1 reuter:1 | NORWAY'S CURRENT ACCOUNT IN DEFICIT
Norway's current account showed a 9.9
billion crown deficit for the first seven months of 1987,
against a 19.7 billion crown deficit for the same year-ago
period, the Central Bureau of Statistics said.
North Sea oil and gas revenues rose 3.4 pct to 32.6 billion
crowns in the January to July period compared with 31.5 billion
in the first seven months of 1986. REUTER
|
test/21521 | test/21521 |@title bonn:1 ministry:1 comment:1 baker:1 remark:1 |@word west:3 german:2 finance:2 ministry:3 decline:1 comment:2 weekend:1 criticism:1 u:2 treasury:1 secretary:1 james:1 baker:3 recent:1 interest:2 rate:2 increase:1 say:3 would:1 examine:1 february:1 louvre:2 accord:1 stabilise:1 currency:1 reach:1 lead:1 industrial:1 democracy:1 rise:1 germany:1 short:1 term:1 spirit:1 agreement:1 nation:1 washington:1 reaffirm:1 pact:1 spokesman:1 ask:1 official:1 reaction:1 remarks:1 could:1 make:1 | BONN MINISTRY HAS NO COMMENT ON BAKER REMARKS
The West German Finance Ministry declined to
comment on weekend criticism by U.S. Treasury Secretary James
Baker of recent West German interest rate increases.
Baker said the U.S. Would re-examine the February Louvre
Accord to stabilise currencies reached by leading industrial
democracies. The rise in West Germany short term interest rates
was not in the spirit of an agreement by these nations in
Washington, which reaffirmed the Louvre pact, he said.
A Finance Ministry spokesman, asked for an official
ministry reaction to Baker's remarks, said he could make no
comment.
|
test/21523 | test/21523 |@title animal:1 feed:1 ship:1 fire:1 chinese:1 port:1 |@word cyprus:1 vessel:1 fearless:1 31:1 841:1 tonne:2 dw:1 fire:3 ground:1 tow:1 yantai:1 china:1 august:1 cargo:3 reload:1 3:1 hold:3 catch:1 october:1 15:1 put:1 salt:1 water:3 4:2 spread:1 also:1 5:1 bottom:1 patching:1 report:1 complete:1 starboard:1 wing:1 tank:1 pump:1 remain:1 dry:1 engine:1 room:1 flood:1 three:1 metre:1 ship:1 originally:1 load:1 10:1 000:1 animal:1 feed:1 | ANIMAL FEED SHIP ON FIRE AGAIN AT CHINESE PORT
The Cyprus vessel Fearless, 31,841 tonnes
dw, which was on fire, grounded then towed to Yantai, China, in
August, had all its cargo reloaded but the cargo in the no. 3
hold caught fire on October 15.
The fire was put out with salt water and water from the
no.4 hold has spread over most of the cargo. Some water is also
in the no.5 hold. Bottom patching was reported complete but
only the no.4 starboard wing tank has been pumped out and
remains dry. The engine room is flooded to about three metres.
The ship was originally loaded with 10,000 tonnes of animal
feed.
|
test/21525 | test/21525 |@title high:1 spending:1 expect:1 malaysia:1 1988:1 budget:1 |@word malaysia:5 recovery:1 bad:1 recession:1 20:1 year:6 receive:1 boost:1 friday:1 government:6 announce:1 reflationary:1 budget:3 calendar:1 1988:2 seven:1 austerity:1 economist:3 say:9 country:1 walk:1 one:4 leg:1 ismail:1 salleh:1 institute:1 strategic:1 international:1 study:1 depend:1 public:1 sector:2 investment:3 fast:1 growth:2 private:1 move:1 gross:1 domestic:1 product:1 grow:1 pct:7 1986:4 shrink:1 1985:1 fiscal:2 end:2 december:1 31:1 expect:3 1987:2 two:1 analyst:1 believe:1 nearer:1 three:1 price:1 commodity:1 export:1 rise:1 sharply:1 lead:1 exporter:1 rubber:1 palm:1 oil:2 tin:1 semiconductor:1 major:1 producer:1 cocoa:1 timber:1 slash:1 development:1 spending:1 9:2 8:1 billion:4 ringgit:5 14:1 5:2 unemployment:1 exceed:1 10:1 local:1 also:3 stagnate:1 businessman:3 blame:1 inconsistent:1 economic:1 policy:2 lack:1 incentive:1 many:1 politician:1 give:1 impression:1 unstable:1 take:1 care:1 confidence:1 potential:1 recover:1 strongly:1 great:1 banker:1 current:1 account:1 black:1 central:1 bank:1 project:1 500:1 mln:2 surplus:1 compare:1 last:1 1:1 2:1 deficit:2 balance:1 1989:1 952:1 repay:1 external:1 debt:1 stand:1 51:1 political:1 leader:1 hurt:1 ordinary:1 people:1 taxis:1 basic:1 food:1 essential:1 good:1 unlikely:1 change:1 hope:1 cut:1 corporate:1 tax:1 45:1 48:1 enable:1 compete:1 investor:1 neighbouring:1 state:1 | HIGHER SPENDING EXPECTED IN MALAYSIA'S 1988 BUDGET
Malaysia's recovery from the worst
recession in 20 years should receive a boost on Friday when the
government announces a reflationary budget for calendar 1988
after seven years of austerity, economists said.
'Our country is walking on one leg now,' said Ismail Salleh,
an economist with the Institute of Strategic and International
Studies. 'It has to depend on public sector investment for
faster growth if the private sector is not moving.'
Gross domestic product grew one pct in 1986 after shrinking
one pct in 1985. The fiscal year ends December 31.
The government has said it expects 1987 growth to be under
two pct but some analysts believe it will be nearer three pct
because prices for commodity exports have risen sharply.
Malaysia is a leading exporter of rubber, palm oil, tin and
semiconductors and a major producer of cocoa, timber and oil.
The government slashed development spending to 9.8 billion
ringgit this year from 14.5 billion in 1986.
Economists said unemployment is expected to exceed 10 pct
in 1988 against about 9.5 pct this year.
Local investment also has stagnated, with businessmen
blaming inconsistent economic policies and lack of incentives.
One businessman said too many politicians give the
impression that Malaysia was unstable.
'If we can take care of investment confidence, the potential
to recover strongly is great,' a banker said.
Malaysia's 1987 current account is expected to be in the
black with the Central Bank projecting a 500 mln ringgit
surplus compared with last year's 1.2 billion ringgit deficit.
The government has said its fiscal policies will balance
the budget by 1989. The deficit in 1986 was 952 mln ringgit.
The government will also repay some of its external debt,
which stood at 51 billion ringgit at the end of 1986.
Political leaders have said the budget will not hurt
ordinary people as taxes on basic food and other essential
goods are unlikely to change.
Businessmen said they hope the government also will cut the
corporate tax, now between 45 and 48 pct, to enable Malaysia to
compete for investors with neighbouring states.
|
test/21526 | test/21526 |@title british:1 bauxite:1 vessel:1 ground:1 orinoco:1 river:1 |@word lloyds:1 ship:1 intelligence:1 service:1 say:1 british:1 bulk:1 carrier:1 envoy:1 75:1 453:1 tonne:2 dw:1 ground:1 mile:1 190:1 orinoco:1 river:1 october:1 16:1 vessel:2 voyage:1 trombetas:1 brazil:1 matanzas:1 cuba:1 carry:1 50:1 000:1 bauxite:1 draught:1 36:1 foot:1 attempt:1 refloat:1 help:1 six:1 tug:1 unsuccessful:1 owner:1 consider:1 unload:1 part:1 cargo:1 onto:1 barge:1 | BRITISH BAUXITE VESSEL GROUNDED IN ORINOCO RIVER
Lloyds Shipping Intelligence service said
the British bulk carrier Envoy, 75,453 tonnes dw, was grounded
at Mile 190 in the Orinoco river on October 16.
The vessel was on a voyage from Trombetas, Brazil, to
Matanzas, Cuba, carrying 50,000 tonnes of bauxite. Its draught
was 36 feet.
Attempts to refloat the vessel with the help of six tugs
have been unsuccessful. The owners are considering unloading
part of the cargo onto barges.
|
test/21530 | test/21530 |@title china:1 forecast:1 397:1 mln:1 tonne:1 grain:1 harvest:1 |@word china:6 expect:3 1987:3 grain:6 harvest:3 397:1 mln:6 tonne:5 eight:2 short:1 target:1 new:1 news:1 agency:1 quote:1 state:3 statistical:1 bureau:2 spokesman:2 say:5 second:1 high:1 history:1 poor:1 weather:1 low:1 incentive:2 produce:1 farmer:1 keep:1 yield:1 early:1 chinese:2 press:1 report:1 industry:1 source:1 import:2 least:1 10:2 year:1 shortfall:1 custom:1 figure:1 show:1 9:1 59:1 first:1 month:2 compare:1 6:1 09:1 1986:2 period:1 agriculture:1 minister:1 kang:1 last:1 price:1 purchase:1 grower:1 adjust:1 increase:1 production:1 could:1 afford:1 become:1 major:1 food:1 importer:1 statistics:1 also:1 cotton:1 output:1 rise:1 pct:1 390:1 | CHINA FORECASTS 397 MLN TONNES GRAIN HARVEST
China expects its 1987 grain harvest to be
397 mln tonnes, eight mln tonnes short of its target, the New
China News Agency quoted a State Statistical Bureau spokesman
as saying.
The harvest will be China's second highest in history but
poor weather and low incentives for grain-producing farmers
have kept yields down, earlier Chinese press reports said.
Industry sources expect China to import at least 10 mln
tonnes of grain this year because of the harvest shortfall.
Chinese customs figures showed grain imports of 9.59 mln
tonnes in the first eight months of 1987, compared with 6.09
mln in the same 1986 period.
Agriculture Minister He Kang said last month state prices
for grain purchase from growers were to be adjusted to increase
the incentive for grain production.
China could not afford to become a major food importer, he
said.
The State Statistics Bureau spokesman also said China's
1987 cotton output was expected to rise 10 pct over 1986 to 390
mln tonnes.
|
test/21532 | test/21532 |@title philippine:1 inflation:1 predict:1 rise:1 |@word philippine:1 1987:2 inflation:5 rate:3 rise:5 4:6 8:2 pct:14 0:5 74:1 1986:1 government:4 implement:2 employer:2 association:1 recommendation:2 10:2 increase:2 54:1 peso:4 minimum:2 daily:2 wage:3 month:4 economic:2 planning:1 secretary:1 solita:2 monsod:2 say:5 proposal:2 across:1 board:1 pay:1 six:2 non:1 agricultural:1 worker:3 eight:2 agriculture:1 would:3 push:2 full:1 year:4 average:1 high:2 5:5 tell:1 senate:1 last:2 week:1 recommend:1 confederation:1 philippines:1 ecop:2 11:1 6:6 december:1 compare:1 predict:1 14:1 propose:1 annual:2 forecast:1 four:1 national:3 development:1 authority:1 early:1 first:1 three:1 negative:1 7:1 respectively:2 1:1 2:4 april:1 may:1 june:2 statistics:2 office:2 july:1 15:1 188:1 august:1 september:1 attribute:1 acceleration:1 fuel:1 water:1 price:1 displace:1 20:1 000:1 bring:1 number:1 unemployed:1 mln:1 19:1 population:1 | PHILIPPINE INFLATION PREDICTED TO RISE
The Philippine 1987 inflation rate will
rise to 4.8 pct from 0.74 pct in 1986 if the government
implements an employers' association recommendation for a 10
pct increase in the 54 peso minimum daily wage this month,
Economic Planning Secretary Solita Monsod said.
The government's own proposal for an across-the-board daily
pay rise of six pesos for non-agricultural workers and eight
pesos for agriculture workers, would push the full year average
higher to 5.4 pct, she told the Senate last week.
The 10 pct rise in the minimum wage is recommended by the
Employers Confederation of the Philippines (ECOP).
The ECOP proposal would push the year-on-year inflation
rate to 11.6 pct in December compared with the predicted 14.4
pct if the government's recommendation is implemented, Solita
said. Both were proposed last month.
Annual inflation for 1987 was forecast at four to 4.5 pct
by the National Economic and Development Authority early this
month.
In the first three months of the year, inflation was a
negative 0.5, 0.6 and 0.7 pct respectively, rising to 1.0, 2.5
and 4.6 pct in April May and June, the National Statistics
Office said.
The annual inflation rate rose to 5.8 pct in June, 6.2 pct
in July and 6.15 and 6.188 pct in August and September
respectively, the National Statistics Office said.
It attributed the acceleration to higher fuel and water
prices.
The government's six and eight peso wage increases would
displace up to 20,000 workers, Monsod said, bringing the number
of unemployed to 4.2 mln or 19.2 pct of the population.
|
test/21535 | test/21535 |@title volkskas:1 bank:1 see:1 rand:1 hinge:1 inflation:1 rate:1 |@word south:1 africa:1 must:1 drive:1 inflation:4 rate:3 much:1 low:1 level:1 prevent:1 decline:1 rand:4 say:2 volkskas:2 bank:2 monthly:1 economic:1 review:1 without:1 major:1 drop:1 bind:1 eventually:1 decrease:1 even:1 regardless:1 sharp:1 rise:1 gold:1 price:1 run:1 annual:1 17:1 pct:1 around:1 49:1 53:1 u:1 cent:1 economist:1 estimate:1 continue:1 high:1 predict:1 remain:1 fairly:1 steady:1 rest:1 1987:1 ease:1 slightly:1 next:1 year:1 | VOLKSKAS BANK SEES RAND HINGING ON INFLATION RATE
South Africa must drive down its
inflation rate to much lower levels to prevent a further
decline in the rand, said Volkskas Bank in its monthly economic
review.
The bank said that without a major drop in the inflation
rate, the rand was bound to eventually decrease even more,
regardless of a sharp rise in the gold price.
Inflation is running at an annual rate of some 17 pct and
the rand is around 49.53 U.S. Cents. Most economists estimate
continued high inflation.
Volkskas predicted the rand will remain fairly steady for
the rest of 1987 and then ease slightly next year.
|
test/21536 | test/21536 |@title soviet:1 sugar:1 consumption:1 home:1 brewing:1 grow:1 |@word sharp:1 rise:1 soviet:2 sugar:2 consumption:3 since:1 start:1 kremlin:2 anti:3 alcohol:3 drive:1 indicate:1 home:2 brewing:1 cost:1 state:1 20:2 billion:3 rouble:3 lose:1 vodka:4 sale:3 pravda:2 say:4 communist:1 party:1 newspaper:1 increase:1 one:1 mln:1 tonne:1 year:2 enough:1 turn:1 two:1 bottle:2 moonshine:1 current:1 price:1 10:1 mean:1 illicit:1 reach:1 equivalent:1 annual:1 revenue:1 may:1 1985:2 alchohol:1 decree:1 official:1 statistic:2 show:1 reduction:1 deceptive:1 count:1 brew:1 epidemic:1 first:2 engulf:1 village:1 also:1 firmly:1 settle:1 city:1 availability:1 natural:1 gas:1 running:1 water:1 privacy:1 make:1 much:1 easy:1 leader:1 mikhail:1 gorbachev:1 launch:1 campaign:1 shortly:1 take:1 office:1 march:1 step:1 improve:1 economic:1 performance:1 seriously:1 hurt:1 drunkenness:1 among:1 work:1 population:1 | SOVIET SUGAR CONSUMPTION UP AS HOME BREWING GROWS
A sharp rise in Soviet sugar consumption
since the start of the Kremlin's anti-alcohol drive indicates
home brewing is costing the state 20 billion roubles in lost
vodka sales, Pravda said.
The Communist Party newspaper said sugar sales had
increased by one mln tonnes a year, enough to be turned into
two billion bottles of moonshine.
At current vodka prices of 10 roubles a bottle, it said,
this meant illicit alcohol consumption had reached the
equivalent of 20 billion roubles a year, or annual revenues
from vodka sales before the May 1985 anti-alchohol decree.
'Official statistics show a reduction in consumption of
vodka, but this is a deceptive statistic -- it does not count
home-brew,' Pravda said.
'The epidemic first engulfed the villages and has now also
firmly settled into cities, where the availability of natural
gas, running water and privacy has made it much easier.'
Kremlin leader Mikhail Gorbachev launched the anti-alcohol
campaign shortly after taking office in March 1985 as a first
step to improving Soviet economic performance, which had been
seriously hurt by drunkenness among the working population.
|
test/21538 | test/21538 |@title equiticorp:1 hold:1 guinness:1 reach:1 59:1 93:1 pct:1 |@word equiticorp:3 holdings:1 ltd:1 equw:1 receive:1 acceptance:1 represent:1 59:1 93:1 pct:2 issue:1 ordinary:1 share:1 capital:1 guinness:2 peat:2 group:1 plc:1 gnsp:1 l:1 say:1 statement:1 offer:1 become:1 unconditional:1 october:2 3:1 50:1 6:1 close:1 17:1 | EQUITICORP HOLDING IN GUINNESS REACHES 59.93 PCT
Equiticorp Holdings Ltd <EQUW.WE> now owns
or has received acceptances representing 59.93 pct of the
issued ordinary share capital of Guinness Peat Group Plc
<GNSP.L>, Equiticorp said in a statement.
Equiticorp's offer for Guinness Peat became unconditional
on October 3, when it had 50.6 pct, and closed on October 17.
|
test/21539 | test/21539 |@title bank:1 extend:1 trading:1 halt:1 lebanese:1 pound:1 |@word lebanon:2 bankers:1 association:3 say:1 extend:1 suspension:2 trading:3 lebanese:1 pound:6 two:3 work:2 day:3 study:2 way:1 stem:1 currency:2 collapse:1 central:1 bank:2 post:1 rate:1 dollar:2 monday:2 close:2 thursday:1 407:1 00:4 412:1 compare:1 wednesday:1 384:1 386:1 source:1 tell:1 reuters:1 friday:2 continue:1 proposal:1 reinforce:1 comprise:1 106:1 commercial:1 east:1 west:1 beirut:1 halt:1 chaotic:1 market:1 crash:1 four:1 record:1 low:1 week:1 hit:1 inability:1 religiously:1 ideologically:1 divide:1 government:1 end:1 12:1 year:2 civil:1 war:1 lose:1 80:1 pct:1 international:1 value:1 | BANKS EXTEND TRADING HALT IN LEBANESE POUND
Lebanon's Bankers Association said it
extended its suspension of trading in the Lebanese pound for
two more working days to study ways to stem the currency's
collapse.
The Central Bank did not post the rate of the pound to the
dollar and other currencies on Monday. The pound closed on
Thursday at 407.00/412.00 to the dollar compared with
Wednesday's close of 384.00/386.00.
Association sources told Reuters Friday's suspension of
trading for two working days was continued on Monday for two
more days so as to study proposals to reinforce the pound.
The Association, which comprises 106 commercial banks in
east and west Beirut, halted trading on Friday in a chaotic
market after the pound crashed to four record lows in the week.
The pound, hit by the inability of Lebanon's religiously
and ideologically divided government to end 12 years of civil
war, has lost more than 80 pct of its international value this
year.
|
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