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test/16762 | test/16762 |@title saudi:1 arabia:1 want:1 increase:1 oil:1 sale:1 japan:1 |@word saudi:4 arabia:2 hope:2 increase:1 volume:1 oil:1 export:2 japan:2 expand:1 bilateral:1 trade:2 arabian:1 interior:1 minister:1 naif:1 bin:1 abdul:1 aziz:1 say:2 tell:1 tokyo:1 reception:1 country:1 raise:1 crude:2 product:1 early:1 level:1 elaborate:1 promote:1 invite:1 japanese:2 industry:1 business:1 firm:1 long:1 term:1 contract:1 import:1 total:1 150:1 000:1 barrel:1 per:1 day:1 | SAUDI ARABIA WANTS TO INCREASE OIL SALES TO JAPAN
Saudi Arabia hopes to increase the volume
of its oil exports to Japan through expanding bilateral trade,
Saudi Arabian Interior Minister Naif bin Abdul-Aziz said.
He told a Tokyo reception his country hopes to raise crude
and products exports to Japan to earlier levels, but did not
elaborate. To promote trade, Saudi Arabia is inviting Japanese
industries to do business there, he said.
Japanese firms now have long-term contracts to import a
total of 150,000 barrels per day of Saudi crude.
|
test/16763 | test/16763 |@title u:2 urge:1 japan:1 open:1 farm:1 market:1 |@word agriculture:3 secretary:1 richard:1 lyng:5 ask:1 japan:8 open:2 farm:5 market:2 help:2 washington:1 cut:1 trade:6 deficit:1 ease:1 protectionist:1 pressure:1 ministry:2 official:1 tell:2 reporter:1 hideo:1 maki:4 director:1 general:2 economic:1 affairs:1 bureau:1 quote:2 minister:1 mutsuki:1 kato:5 removal:1 import:1 restriction:1 would:1 well:3 united:1 state:1 meeting:2 12:2 day:1 visit:1 dicuss:1 however:1 reply:1 already:1 world:2 large:2 grain:2 importer:1 add:2 customer:1 u:6 depend:1 domestic:2 output:2 53:1 pct:1 food:1 requirement:1 1985:1 say:5 put:1 high:2 priority:1 talk:2 product:3 name:1 complaint:1 agreement:1 tariffs:1 gatt:2 last:1 year:1 beef:1 citrus:1 rice:2 maintain:1 current:1 level:1 self:1 sufficiency:1 try:2 produce:1 surplus:2 potential:1 production:2 demand:1 suffer:1 rise:1 export:1 country:1 reduce:1 expensive:1 program:1 hold:1 detailed:1 discussion:1 item:1 new:1 round:1 april:1 20:1 representative:1 clayton:1 yeutter:1 join:1 | U.S. URGES JAPAN TO OPEN FARM MARKET FURTHER
U.S. Agriculture Secretary Richard Lyng
has asked Japan to open its farm market further to help
Washington cut its trade deficit and ease protectionist
pressures, an Agriculture Ministry official told reporters.
Hideo Maki, Director General of the ministry's Economic
Affairs Bureau, quoted Lyng as telling Agriculture Minister
Mutsuki Kato that the removal of import restrictions would help
Japan as well as the United States.
The meeting with Kato opened a 12-day visit to Japan by
Lyng, who is here to dicuss farm trade.
However, Maki quoted Kato as replying that Japan was
already the world's largest grain importer.
Kato added Japan is the largest customer for U.S. Grain and
depended on domestic output for only 53 pct of its food
requirements in 1985.
Lyng said the U.S. Put high priority on talks on 12 farm
products named in U.S. Complaints against Japan to the General
Agreement on Tariffs and Trade (GATT) last year, as well as on
beef, citrus products and rice.
Kato said Japan will maintain its current level of
self-sufficiency and will try not to produce surplus rice
because potential production is higher than domestic demand.
The world farm market suffers from surpluses because of
rising production by exporting countries, he added.
Lyng said the U.S. Has been trying to reduce farm product
output with expensive programs, Maki said.
Maki said the U.S. And Japan will hold detailed discussions
on each trade item as well as a new round of GATT trade talks
at a meeting on April 20, in which U.S. Trade Representative
Clayton Yeutter will join.
|
test/16765 | test/16765 |@title 60:1 000:1 tonne:1 corn:1 smuggle:1 philippines:1 paper:1 |@word least:2 60:1 000:3 tonne:5 corn:6 worth:2 240:1 mln:2 peso:1 smuggle:1 philippines:1 past:1 month:1 manila:1 bulletin:1 newspaper:3 say:5 quote:3 official:2 national:2 food:1 authority:1 nfa:3 name:1 large:1 shortage:3 corruption:1 among:1 custom:1 coast:1 guard:1 personnel:1 jeopardise:1 government:1 ban:1 import:1 aim:1 save:1 foreign:1 currency:1 marketing:1 director:1 jig:1 tan:2 monthly:1 consumption:1 stand:1 331:1 stock:1 inventory:2 191:1 732:1 continue:1 drought:2 affect:1 49:1 150:1 hectare:1 lead:1 loss:1 43:1 725:1 174:1 9:1 pesos:1 contribute:1 linda:1 geraldez:1 statistician:1 despite:1 total:1 end:1 january:1 june:1 crop:1 season:1 expect:1 201:1 | 60,000 TONNES CORN SMUGGLED INTO PHILIPPINES-PAPER
At least 60,000 tonnes of corn worth 240
mln pesos have been smuggled into the Philippines over the past
few months, the Manila Bulletin newspaper said, quoting an
official in the National Food Authority (NFA).
The official, who was not named, said a large corn shortage
and corruption among customs and Coast Guard personnel have
jeopardised the government's ban on corn imports, which was
aimed at saving foreign currency.
The newspaper quoted NFA Marketing Director Jig Tan as
saying monthly corn consumption stood at about 331,000 tonnes
against a national stock inventory of 191,732 tonnes.
Tan said a continuing drought affecting about 49,150
hectares of corn has led to the loss of 43,725 tonnes of corn
worth 174.9 mln pesos and contributed to the shortage.
The newspaper quoted Linda Geraldez, an NFA statistician,
as saying despite the drought and the shortage, the total
inventory at the end of the January/June crop season is
expected to be at least 201,000 tonnes.
|
test/16766 | test/16766 |@title paper:1 say:1 u:1 trade:1 deficit:1 cut:1 13:1 65:1 billion:1 |@word washington:3 post:3 say:3 u:3 commerce:3 department:4 yesterday:1 issue:1 new:2 report:4 show:1 merchandise:1 trade:2 deficit:3 13:1 65:1 billion:4 dollar:2 february:1 reduction:1 1:1 4:1 dlrs:1 15:2 06:1 figure:2 two:1 day:1 earlier:1 newspaper:1 news:1 unexpectedly:1 large:1 help:1 batter:1 value:1 foreign:1 exchange:1 market:2 boost:1 interest:1 rate:1 however:1 go:1 largely:1 unnoticed:1 financial:1 since:1 downward:1 revision:1 monthly:1 occurrence:1 law:1 must:1 first:1 publish:1 top:1 official:1 agree:1 mislead:1 wait:1 48:1 hour:1 put:1 accurate:1 one:2 immediately:1 available:1 comment:1 | PAPER SAYS U.S. TRADE DEFICIT CUT TO 13.65 BILLION
The Washington Post said the U.S.
Commerce Department yesterday issued a new report showing that
the U.S. Merchandise trade deficit was 13.65 billion dollars in
February, a reduction of 1.4 billion dlrs from the 15.06
billion figure the department reported only two days earlier.
The newspaper said: 'News of the unexpectedly large 15
billion deficit helped batter the dollar's value on foreign
exchange markets and boosted U.S. Interest rates.
'However, the new report went largely unnoticed by financial
markets since such a downward revision in the deficit is a
monthly occurrence.'
The Washington Post said: 'By law, the department must first
publish what a top commerce official agreed are misleading
trade figures and then wait 48 hours before putting out the
more accurate ones.'
No one was immediately available at the Commerce Department
for comment on the Washington Post report.
|
test/16767 | test/16767 |@title south:1 korea:1 lead:1 indicator:1 rise:1 february:1 |@word south:1 korea:1 index:3 lead:1 indicator:2 rise:2 1:2 9:2 pct:3 172:1 base:2 1980:1 february:1 0:1 8:1 january:1 stand:1 17:1 2:1 high:1 feburary:1 1986:1 provisional:1 economic:1 planning:1 board:1 figure:2 show:1 10:1 include:1 export:1 value:1 letter:1 credit:1 receive:1 warehouse:1 stock:2 3:1 money:1 supply:1 composite:1 exchange:1 | SOUTH KOREA'S LEADING INDICATORS RISE IN FEBRUARY
South Korea's index of leading indicators
rose 1.9 pct to 172.9 (base 1980) in February after a 0.8 pct
rise in January, to stand 17.2 pct higher than in Feburary
1986, provisional Economic Planning Board figures show.
The index is based on 10 indicators which include export
values, letters of credit received, warehouse stocks, M-1 and
M-3 money supply figures and the composite stock exchange
index.
|
test/16770 | test/16770 |@title japan:1 ldp:1 call:1 flexible:1 monetary:1 policy:1 |@word japan:3 rule:2 liberal:1 democratic:1 party:1 ldp:5 call:1 adequate:1 flexible:1 management:1 nation:1 monetary:1 police:1 plan:2 expand:1 domestic:1 demand:1 senior:1 official:1 tell:2 reuters:1 junichiro:1 koizumi:2 head:1 committee:1 work:1 say:3 phrase:1 take:1 imply:1 immediate:1 cut:3 2:1 5:1 pct:1 discount:2 rate:3 generally:1 believe:1 need:1 moment:1 necessary:1 future:1 bank:2 governor:1 satoshi:1 sumita:1 press:1 conference:1 wednesday:1 central:1 intention:1 ease:1 credit:1 condition:1 | JAPAN'S LDP TO CALL FOR FLEXIBLE MONETARY POLICIES
Japan's ruling Liberal Democratic Party
(LDP) will call for adequate and flexible management of the
nation's monetary polices in its plan to expand domestic
demand, a senior LDP official told Reuters.
Junichiro Koizumi, the head of the LDP committee working
out the plan, said the phrase should not be taken as implying
an immediate cut in Japan's 2.5 pct discount rate.
'The LDP generally believes that there is no need for a
further discount rate cut at the moment,' he said. But Koizumi
said the LDP does not rule out a rate cut if necessary in the
future.
Bank of Japan Governor Satoshi Sumita told a press
conference on Wednesday that the central bank does not have any
intention of easing credit conditions.
|
test/16772 | test/16772 |@title india:1 annual:1 inflation:1 rate:1 drop:1 marginally:1 |@word finance:1 ministry:2 say:3 india:1 wholesale:3 price:3 link:1 inflation:2 rate:1 drop:1 marginally:1 5:4 3:1 pct:5 fiscal:1 1986:3 87:3 end:1 march:2 8:1 1985:1 86:1 7:1 1:2 1984:1 85:1 average:1 relate:1 stand:1 2:1 year:3 ago:1 statement:1 cement:1 textile:1 jute:1 fall:1 compare:1 previous:1 milk:1 cereal:1 mainly:1 wheat:1 rice:1 fruit:1 vegetable:1 edible:1 oil:1 tobacco:1 fertiliser:1 costlier:1 | INDIA'S ANNUAL INFLATION RATE DROPS MARGINALLY
The Finance Ministry said India's
wholesale-price linked inflation rate dropped marginally to 5.3
pct in all fiscal 1986/87 ended March from 5.8 pct in 1985/86
and 7.1 pct in 1984/85.
The average wholesale-price related inflation stood at 5.2
pct in March this year against 5.1 pct a year ago, the Ministry
said in a statement.
It said wholesale prices of cement, textiles and jute fell
in 1986/87, compared with the previous year, but milk, cereals
(mainly wheat and rice), fruits and vegetables, edible oils,
tobacco and fertilisers were costlier in 1986/87.
|
test/16774 | test/16774 |@title japan:1 details:1 plan:1 stave:1 trade:1 problem:1 |@word japan:1 liberal:1 democratic:1 party:1 ldp:9 draw:1 detailed:1 plan:7 call:1 large:1 tax:2 cut:2 increase:2 government:5 purchase:2 foreign:2 good:2 head:1 committee:1 work:2 junichiro:1 koizumi:2 say:6 also:1 urge:1 double:1 1985:1 official:6 development:1 assistance:1 7:1 6:1 billion:1 dlrs:1 within:1 five:1 year:1 instead:1 seven:1 promise:1 senior:1 press:1 conference:1 executive:2 council:1 chairman:1 shintaro:1 abe:3 explain:1 u:4 visit:2 april:1 19:1 prepare:1 prime:1 minister:1 yasuhiro:1 nakasone:1 talk:1 president:1 ronald:1 reagan:1 later:1 month:1 specify:1 size:1 amount:1 domestic:2 demand:2 stimulate:2 however:1 top:1 figure:1 able:1 offer:1 specific:2 propose:1 procurement:1 probably:1 include:1 super:1 computer:1 trade:2 problem:2 nation:2 encourage:1 flow:1 fund:1 develop:1 country:1 expect:1 measure:1 prop:1 economy:1 lessen:1 add:1 basic:1 idea:1 present:1 welcome:1 monetary:1 authority:1 major:1 industrial:1 washington:1 last:2 week:1 form:1 basis:1 several:1 package:1 japanese:1 unveil:1 late:1 may:1 | JAPAN DETAILS PLAN TO STAVE OFF TRADE PROBLEMS
Japan's Liberal Democratic Party (LDP)
has drawn up a detailed plan calling for large tax cuts and an
increase in government purchases of foreign goods, the head of
the committee working out the plan, Junichiro Koizumi, said.
The plan will also urge the government to double 1985's
official development assistance to 7.6 billion dlrs within five
years instead of seven as the government had promised, senior
LDP officials said at a press conference.
LDP executive council chairman Shintaro Abe will explain
the plan to U.S. Officials when he visits the U.S. On April 19.
Abe's visit is to prepare for Prime Minister Yasuhiro
Nakasone's talks with President Ronald Reagan later this month.
Koizumi said the LDP plan will not specify the size of the
tax cut or the amount of domestic demand to be stimulated.
However, top LDP executives will work out figures so that Abe
will be able to offer specifics to U.S. Officials.
The proposed increase in procurement of foreign goods by
the government will probably include the purchase of super
computers, LDP officials said.
specific trade problems with other nations and will encourage
flows of funds to developing countries, the officials said.
The LDP expects the measures to prop up the economy and
lessen trade problems with the U.S., They added.
The basic ideas of the LDP's plan were presented to and
welcomed by monetary authorities of the major industrial
nations in Washington last week, they said.
The LDP plan will form the basis for the last of several
packages to stimulate Japanese domestic demand and will be
unveiled by the government in late May.
|
test/16775 | test/16775 |@title china:1 trade:1 deficit:1 fall:1 sharply:1 reserve:1 rise:1 |@word china:1 trade:1 deficit:2 first:2 quarter:2 fall:5 1:6 05:1 billion:11 dlrs:7 3:4 04:1 1986:3 period:1 custom:1 figure:4 show:3 zhang:2 zhongji:1 spokesman:1 state:1 statistical:1 bureau:1 quote:1 export:7 rise:6 27:1 pct:10 7:2 28:2 import:6 5:3 8:2 33:1 say:5 gift:1 foreign:3 aid:1 item:1 material:1 joint:1 venture:1 exclude:1 350:1 mln:5 surplus:1 invisible:1 700:1 result:1 exchange:2 reserve:2 increase:1 somewhat:1 level:1 end:3 give:1 official:1 10:1 514:1 11:1 9:1 1985:1 one:1 reason:1 improve:1 incentive:1 firm:1 allow:1 retain:1 good:1 sell:1 hong:1 kong:1 macao:1 35:2 2:3 48:1 55:1 46:1 japan:1 24:1 4:1 14:1 u:1 23:1 640:1 26:1 840:1 eec:1 770:1 | CHINA TRADE DEFICIT FALLS SHARPLY, RESERVES RISE
China's trade deficit in the first
quarter fell to 1.05 billion dlrs from 3.04 billion in the same
1986 period, customs figures show.
Zhang Zhongji, spokesman of the State Statistical Bureau,
quoted the figures as showing exports rose 27 pct to 7.28
billion dlrs and imports fell 5.1 pct to 8.33 billion.
He said if imports of gifts, foreign aid items and
materials for joint ventures are excluded, the deficit was only
350 mln dlrs, and the surplus on invisibles was 700 mln. As a
result, foreign exchange reserves increased somewhat from their
level at end-1986, he said, but gave no figure.
Official figures show the reserves at 10.514 billion dlrs
at end-1986, down from 11.9 billion at end-1985.
Zhang said one reason for the rise in exports was improved
incentives to export firms, which are being allowed to retain
more foreign exchange from the goods they sell.
He said first quarter exports to Hong Kong and Macao rose
35.5 pct to 2.48 billion dlrs and imports rose 55.3 pct to 1.46
billion. Exports to Japan fell 2.3 pct to 1.28 billion and
imports 24.4 pct to 2.14 billion.
Exports to the U.S. Rose 23 pct to 640 mln dlrs and imports
fell 26.7 pct to 840 mln. Exports to the EEC rose 35.1 pct to
770 mln dlrs and imports fell 3.8 pct to 1.5 billion, he said.
|
test/16776 | test/16776 |@title thai:1 venture:1 sell:1 rubber:1 china:1 |@word teck:2 soon:2 co:1 ltd:1 major:1 thai:2 rubber:3 exporter:1 form:1 joint:2 venture:2 state:1 chinese:2 international:1 economic:1 technology:1 development:1 corp:1 produce:1 50:1 000:1 tonne:3 sheet:2 annually:1 export:1 auto:1 industry:1 general:1 manager:1 chit:2 surivitchpan:1 say:2 new:1 company:1 register:1 capital:1 four:1 mln:1 dlrs:1 china:1 import:1 69:1 952:1 last:1 year:1 60:1 296:1 1985:1 | THAI VENTURE WILL SELL RUBBER TO CHINA
Teck Soon Co Ltd, a major Thai rubber
exporter has formed a joint venture with state-owned Chinese
International Economic and Technology Development Corp to
produce 50,000 tonnes of sheet rubber annually for export to
the Chinese auto industry, Teck Soon general manager Chit
Surivitchpan said.
Chit said a new joint venture company will have a
registered capital of four mln dlrs.
China imported 69,952 tonnes of Thai sheet rubber last year
and 60,296 tonnes in 1985.
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test/16777 | test/16777 |@title japan:1 farm:1 reform:1 key:1 trim:1 trade:1 surplus:1 |@word basic:1 reform:7 japan:3 protect:2 farm:8 sector:5 key:2 shift:2 economy:1 away:2 export:1 domestic:5 lead:1 growth:2 vital:1 step:2 trim:1 trade:3 surplus:1 security:2 analyst:5 say:13 import:2 tariff:2 quota:2 prop:1 subsidy:3 price:5 support:1 shelter:1 tax:3 system:2 ample:1 room:1 change:4 economic:2 term:1 would:3 plus:1 christopher:1 chew:3 brokerage:1 firm:1 james:1 capel:1 co:1 ultimate:1 cost:1 exist:1 food:3 twice:1 europe:2 two:1 three:1 time:2 u:3 spend:3 account:1 one:2 quarter:1 average:1 household:2 budget:1 roughly:1 10:1 pct:2 gross:1 national:2 product:2 gnp:1 accord:1 study:2 reduce:3 could:3 increase:1 spending:2 power:1 five:2 money:3 direct:2 impact:1 boost:2 add:1 lot:1 slack:1 government:2 official:1 tokyo:1 something:1 else:1 central:1 amount:1 billion:2 dlrs:1 per:1 year:1 independent:1 estimate:1 put:2 total:1 source:1 high:2 37:1 much:1 waste:1 law:1 encourage:1 city:2 resident:1 weekend:1 land:1 sale:1 residential:1 development:1 also:2 give:1 economist:1 housing:1 construction:1 strategic:1 variable:1 expansion:1 demand:2 write:1 chihiro:1 nakajima:1 professor:1 kyoto:1 gakuen:1 university:1 japanese:2 business:1 group:3 call:1 staged:1 burden:1 friction:1 restructuring:1 manufacturing:1 onto:1 employer:1 want:3 really:1 expand:1 way:1 raise:2 wage:1 recklessly:1 commodity:1 bumpei:1 otsuki:1 president:1 federation:1 employers:1 association:1 tell:1 recent:1 press:1 conference:1 external:1 pressure:2 rise:1 seek:1 removal:1 help:1 deficit:1 vest:1 interest:1 oppose:2 remain:2 well:1 entrenched:1 dim:1 prospect:1 quick:1 although:1 full:1 population:1 fall:1 sign:1 ldp:2 pay:2 attention:1 urban:1 constituency:2 rule:1 party:1 heavily:1 dependent:1 vote:3 rural:2 area:1 worth:1 several:1 due:1 pattern:1 border:1 already:1 political:1 trouble:1 plan:1 another:1 sticky:1 issue:1 soon:1 consumer:1 politically:1 weak:1 tend:1 accept:1 traditional:1 view:1 small:1 fee:1 powerful:1 agricultural:1 cooperative:1 fiercely:1 liberalisation:1 flexible:1 aim:1 productivity:1 come:1 response:1 specific:1 rather:1 embrace:1 program:1 | JAPAN FARM REFORM A KEY TO TRIMMING TRADE SURPLUS
Basic reform of Japan's protected farm
sector is a key to shifting its economy away from export to
domestic-led growth, a vital step if it is to trim its trade
surplus, securities analysts said.
The farm sector, which is protected by import tariffs and
quotas, propped up by subsidies and price supports, and
sheltered by the tax system, has ample room for change, they
said.
'In economic terms, reform would be a plus,' said Christopher
Chew of brokerage firm James Capel and Co.
The ultimate cost of the existing system is food prices
twice those in Europe and two to three times those in the U.S.,
The analysts said.
Spending on food accounts for about one quarter of the
average household's budget and roughly 10 pct of the gross
national product (GNP), according to a study by Chew.
Reducing these prices could increase household spending
power by five pct, his study said. The money could be spent on
products which would have a more direct impact in boosting
domestic growth, it added.
'There's a lot of slack,' a U.S. Government official in Tokyo
said. 'All that money could be spent on something else.'
Direct central government subsidies to the farm sector
amount to some five billion dlrs per year. Independent
estimates put total subsidies from all sources as high as 37
billion and the analysts said much of that money is wasted.
Changing tax laws to encourage city residents who only farm
on weekends to put their land up for sale for residential
development would also give a boost to domestic spending,
economists said.
'Housing construction is the key strategic variable in the
expansion of domestic demand,' wrote Chihiro Nakajima, professor
at Kyoto Gakuen University.
Japanese business groups are calling for staged farm reform
to shift some of the burden of trade friction and economic
restructuring away from the manufacturing sector and onto the
farm sector. Employers groups also want change. 'If you really
want to expand domestic demand, the way to do it is not to
raise wages recklessly, but to reduce commodity prices,' Bumpei
Otsuki, President of the Japan Federation of Employers'
Associations told a recent press conference.
External pressures are rising as the U.S. And Europe seek
removal of tariffs and quotas to help reduce their trade
deficits with Japan.
But vested Japanese interests opposed to change remain well
entrenched, dimming prospects for quick reform, analysts said.
Although the full-time farm population is falling and there
are signs the LDP is paying more attention to urban
constituencies, the ruling party remains heavily dependent on
farm votes in the rural areas. One rural vote is worth several
city votes due to the pattern of constituency borders.
The LDP is already in political trouble over its tax reform
plan and does not want to raise another sticky issue so soon,
the analysts said.
Consumer groups are politically weak and tend to accept the
traditional view that higher prices are a small fee to pay for
national food security, they said.
Powerful agricultural cooperatives are fiercely opposed to
import liberalisation, but are more flexible about reforms
aimed at stepping up productivity, they said.
Reform, when it comes, will be in response to specific
pressure rather than an all-embracing program, said Chew.
|
test/16779 | test/16779 |@title japan:1 see:1 high:1 money:1 supply:1 growth:1 quarter:1 |@word bank:4 japan:3 say:3 forecast:2 broadly:1 define:1 2:2 money:1 supply:1 average:1 plus:2 certificate:1 deposit:2 cd:2 rise:4 nine:2 pct:4 current:1 april:1 june:1 quarter:1 8:3 5:1 year:2 earlier:2 unadjusted:1 preliminary:1 january:1 march:1 1987:1 compare:1 due:2 increase:1 float:1 recent:1 low:1 interest:1 rate:1 shift:1 private:1 400:1 1:1 000:1 billion:1 yen:1 recently:1 privatise:1 japanese:1 railway:1 | JAPAN SEES HIGHER MONEY SUPPLY GROWTH THIS QUARTER
The Bank of Japan said it forecast
Japan's broadly-defined M-2 money supply average plus
certificates of deposit (CDs) will rise by about nine pct in
the current April-June quarter against 8.5 pct a year earlier.
Unadjusted M-2 plus CDs rose a preliminary 8.8 pct in
January/March 1987 compared with a nine pct rise a year
earlier, it said.
The bank said the forecast rise is due to an increase in
floating deposits due to recent low interest rates and a shift
to private banks from the Bank of Japan of 400-1,000 billion
yen by the recently privatised Japanese Railways.
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test/16783 | test/16783 |@title oecd:1 consumer:1 price:1 rise:1 february:1 |@word consumer:5 price:7 country:2 organisation:1 economic:1 cooperation:1 development:1 oecd:3 rise:5 0:6 3:5 pct:15 february:4 inflation:3 2:3 4:6 year:5 say:2 communique:1 attribute:1 effect:1 1986:2 drop:1 energy:4 work:1 way:1 index:1 increase:3 less:2 janauary:1 slightly:1 average:1 later:1 month:2 24:1 western:1 industrialise:1 nation:1 january:2 revise:1 1:5 9:2 retail:1 still:1 nine:1 low:1 earlier:1 exclude:1 food:1 line:1 previous:1 although:1 acceleration:1 noticeable:1 u:2 britain:2 among:1 lead:1 seven:1 industrial:1 high:1 italy:1 follow:1 canada:1 france:1 west:1 germany:1 japan:1 negative:1 rate:1 5:1 respectively:1 | OECD CONSUMER PRICES RISE IN FEBRUARY
Consumer prices in the countries of the
Organisation for Economic Cooperation and Development (OECD)
rose 0.3 pct in February and inflation rose to 2.4 pct
year-on-year, the OECD said in a communique.
The OECD attributed the rise in consumer prices to the
effects of the February 1986 drop in energy prices working
their way out of the index. The February increase was less than
Janauary's 0.4 pct increase but slightly above the average for
the later months of 1986.
Inflation in the 24 western industrialised nations in
January was a revised 1.9 pct year-on-year.
Retail energy prices rose by 0.3 pct, less than January's
1.1 pct increase. Energy prices for consumers were still nine
pct lower than a year earlier, it said.
Consumer prices excluding food and energy rose 0.3 pct in
February, in line with previous months, although there has been
some acceleration noticeable in the U.S. And Britain.
Among the leading seven industrial countries, consumer
price inflation was highest in Italy at 4.2 pct, followed by
Canada at 4.0 pct, Britain at 3.9 pct, France at 3.4 pct, the
U.S. At 2.1 pct and West Germany and Japan with negative rates
of 0.5 pct and 1.4 pct respectively.
|
test/16784 | test/16784 |@title lyng:1 open:1 japan:1 talk:1 farm:1 trade:1 barrier:1 u:1 |@word agriculture:1 secretary:1 richard:1 lyng:8 open:4 talk:2 japanese:8 government:1 official:7 today:1 well:1 aware:1 demand:1 opening:1 rice:6 beef:8 citrus:1 market:3 likely:1 reject:2 interview:1 reuter:1 flight:1 tokyo:4 yesterday:1 say:11 goal:1 trip:1 throw:1 international:1 spotlight:1 japan:13 agricultural:1 import:8 protection:1 hope:1 pressure:1 would:5 build:1 happy:1 come:1 go:1 give:1 anything:2 u:12 expect:1 concession:2 two:1 week:2 visit:3 farm:2 trade:2 unveil:1 later:2 month:2 consequence:1 offer:1 prime:1 minister:1 yasuhiro:1 nakasone:1 take:2 washington:1 one:1 plan:1 ask:1 door:1 partially:1 lift:1 longstanding:1 ban:1 foreign:1 purchase:1 private:1 trader:1 last:1 request:1 buy:3 200:1 000:1 tonne:1 industrial:1 use:1 make:1 sake:1 overture:1 maintain:1 policy:2 self:1 sufficiency:1 also:3 press:2 eliminate:4 quota:8 april:2 1988:2 believe:2 consumer:1 like:1 much:1 currently:1 allow:1 cite:1 example:1 california:1 company:1 transport:2 live:1 cattle:1 air:1 slaughter:1 circumvent:1 cost:1 high:1 value:1 animal:1 livestock:1 industry:2 promotion:1 corporation:1 regulate:1 force:1 borrow:1 fiscal:1 1987:1 earlier:1 year:1 1986:1 exhaust:1 price:1 rise:1 along:1 fresh:2 orange:4 juice:3 may:3 eventually:1 willing:1 scrap:1 liberalized:1 necessarily:1 damage:1 mandarin:1 hard:1 replace:1 domestic:2 produce:1 resurrect:1 past:1 proposal:1 surplus:1 foodgrain:1 donation:1 develop:1 country:1 skeptical:1 action:1 urge:1 put:1 include:1 negotiating:1 table:1 gatt:1 geneva:1 must:1 certain:1 minor:1 food:1 product:1 face:1 possible:1 reprisal:1 | LYNG OPENS JAPAN TALKS ON FARM TRADE BARRIERS
U.S. Agriculture Secretary Richard Lyng
opens talks with Japanese government officials today well aware
his demand for the opening of Japanese rice, beef and citrus
markets is likely to be rejected.
But in an interview with Reuters during the flight to
Tokyo yesterday, Lyng said the goal of his trip was to throw an
international spotlight on Japan's agricultural import
protection in the hope pressure would build on Tokyo to open
its markets.
'(The Japanese) have said they are happy we are coming, but
they are not going to give us anything,' Lyng said.
U.S. Officials do not expect any Japanese concessions
during Lyng's two-week visit here. Any farm trade concessions
would be unveiled later this month, they said.
'If there is anything of consequence to offer (Prime
Minister Yasuhiro) Nakasone would take it with him,' when he
visits Washington later in the month, one U.S. Official said.
Lyng plans to ask Japan to open the door to rice imports by
partially lifting the longstanding ban on foreign purchases.
A private U.S. Rice trader visited Tokyo last week
requesting Japan buy 200,000 tonnes of rice for industrial uses
such as making sake. Japan has rejected the overture, saying
Tokyo maintains a policy of self-sufficiency in rice.
Lyng will also press Japan to eliminate an import quota for
beef by April 1988 because he believes Japanese consumers would
like to buy much more beef than currently allowed.
He cited the example of a California company which
transports live U.S. Cattle to Japan by air for slaughter to
circumvent the beef quota. The cost of transport is higher than
the value of the animal, he said.
U.S. Officials said the Japan Livestock Industry Promotion
Corporation which regulates beef imports, was forced to borrow
from the fiscal 1987 quota earlier this year because the 1986
quota was exhausted and Japanese beef prices were rising. Japan
has said it cannot open its markets to beef imports.
Along with beef, the U.S. Will also press Japan to
eliminate import quotas on fresh oranges and orange juice by
April, 1988. Some U.S. Officials believe Japan may eventually
be willing to scrap the quota on fresh oranges because
liberalized trade would not necessarily damage the Japanese
mandarin orange industry.
The quota on juice may be harder to eliminate because
imports might replace domestic produced juice, U.S. And
Japanese officials have said.
Lyng has resurrected a past U.S. Proposal that Japan buy
surplus U.S. Foodgrains for donation to developing countries,
but some U.S. Officials are skeptical action will be taken.
Lyng will also urge Japan to put its domestic farm policies,
including rice, on the negotiating table during GATT talks in
Geneva. He said Japan must eliminate import quotas on certain
minor food products or face possible U.S. Reprisals.
|
test/16787 | test/16787 |@title japan:1 details:1 plan:1 stave:1 trade:1 problem:1 |@word japan:2 liberal:1 democratic:1 party:1 ldp:9 draw:1 detailed:1 plan:8 call:1 large:1 tax:2 cut:2 increase:2 government:5 purchase:2 foreign:2 good:2 head:1 committee:1 work:2 junichiro:1 koizumi:2 say:6 also:2 urge:1 double:1 1985:1 official:6 development:1 assistance:1 7:1 6:1 billion:1 dlrs:1 within:1 five:1 year:1 instead:1 seven:1 promise:1 senior:1 press:1 conference:1 executive:2 council:1 chairman:1 shintaro:1 abe:3 explain:1 u:4 visit:2 april:1 19:1 prepare:1 prime:1 minister:1 yasuhiro:1 nakasone:1 talk:1 president:1 ronald:1 reagan:1 later:1 month:1 specify:1 size:1 amount:1 domestic:2 demand:2 stimulate:2 however:1 top:1 figure:1 able:1 offer:1 specific:2 propose:1 procurement:1 probably:1 include:1 super:1 computer:1 accord:1 strive:1 solve:1 trade:2 problem:2 nation:2 encourage:1 flow:1 fund:1 develop:1 country:1 expect:1 measure:1 prop:1 economy:1 lessen:1 add:1 basic:1 idea:1 present:1 welcome:1 monetary:1 authority:1 major:1 industrial:1 washington:1 last:2 week:1 form:1 basis:1 several:1 package:1 japanese:1 unveil:1 late:1 may:1 | JAPAN DETAILS PLAN TO STAVE OFF TRADE PROBLEMS
Japan's Liberal Democratic Party (LDP)
has drawn up a detailed plan calling for large tax cuts and an
increase in government purchases of foreign goods, the head of
the committee working out the plan, Junichiro Koizumi, said.
The plan will also urge the government to double 1985's
official development assistance to 7.6 billion dlrs within five
years instead of seven as the government had promised, senior
LDP officials said at a press conference.
LDP executive council chairman Shintaro Abe will explain
the plan to U.S. Officials when he visits the U.S. On April 19.
Abe's visit is to prepare for Prime Minister Yasuhiro
Nakasone's talks with President Ronald Reagan later this month.
Koizumi said the LDP plan will not specify the size of the
tax cut or the amount of domestic demand to be stimulated.
However, top LDP executives will work out figures so that Abe
will be able to offer specifics to U.S. Officials.
The proposed increase in procurement of foreign goods by
the government will probably include the purchase of super
computers, LDP officials said.
According to the plan, Japan will also strive to solve
specific trade problems with other nations and will encourage
flows of funds to developing countries, the officials said.
The LDP expects the measures to prop up the economy and
lessen trade problems with the U.S., They added.
The basic ideas of the LDP's plan were presented to and
welcomed by monetary authorities of the major industrial
nations in Washington last week, they said.
The LDP plan will form the basis for the last of several
packages to stimulate Japanese domestic demand and will be
unveiled by the government in late May.
|
test/16788 | test/16788 |@title baldrige:1 launch:1 far:1 east:1 trade:1 drive:1 u:1 |@word commerce:3 secretary:4 malcolm:1 baldrige:7 leave:1 saturday:1 10:1 day:1 trip:1 far:1 east:1 help:1 spur:1 u:10 trade:6 improve:2 business:1 relation:2 china:3 south:4 korea:2 philippines:3 official:4 say:3 also:2 stop:1 hong:4 kong:4 meet:5 british:1 local:1 businessmen:1 last:1 year:1 major:1 deficit:2 three:1 asian:1 trading:1 partner:1 7:1 1:2 billion:3 dlrs:2 6:1 4:1 2:1 800:1 mln:1 korean:2 president:2 chun:1 doo:1 hwan:1 minister:2 rha:1 woong:1 bae:1 monday:1 discuss:3 open:1 market:1 good:1 peking:1 april:3 21:1 24:1 zheng:1 tuobin:1 foreign:1 economic:1 attend:1 meeting:2 joint:1 commission:1 address:2 management:1 training:1 organisation:1 however:1 chief:1 purpose:1 visit:1 would:1 relax:1 rule:1 transfer:1 modern:1 technology:1 chinese:1 industry:3 hold:1 27:1 governor:1 david:1 wilson:1 eric:1 ho:1 well:1 american:2 chamber:1 corazon:1 aquino:1 28:1 show:1 continued:1 support:1 government:1 step:1 could:1 take:1 atmosphere:1 investment:1 finance:1 jaime:1 ongpin:1 jose:1 concepcion:1 | BALDRIGE TO LAUNCH FAR EAST TRADE DRIVE
U.S. Commerce Secretary Malcolm
Baldrige leaves on Saturday on a 10-day trip to the Far East to
help spur U.S. Trade and improve business relations with China,
South Korea and the Philippines, U.S. Officials say.
Baldrige will also stop in Hong Kong to meet British
officials and local U.S. And Hong Kong businessmen.
The U.S. Last year had major deficits with three of its
Asian trading partners -- South Korea 7.1 billion dlrs, Hong
Kong 6.4 billion and China 2.1 billion. The deficit with the
Philippines was 800 mln dlrs.
Baldrige will meet South Korean President Chun Doo-hwan and
Trade Minister Rha Woong Bae on Monday to discuss opening South
Korean markets to more U.S. Goods.
Baldrige will be in Peking from April 21 to 24. He will
meet Zheng Tuobin, minister for foreign economic relations and
trade, attend a meeting of the U.S.-China Joint Commission on
Commerce and Trade and address a management and training
organisation.
However, U.S. Officials said a chief purpose of Baldrige's
visit would be to discuss relaxed U.S. Rules for transferring
modern technology to Chinese industries.
In Hong Kong, Baldrige will hold meetings on April 27 with
Governor David Wilson and Trade and Industry Secretary Eric Ho,
as well as addressing the American Chamber of Commerce.
U.S. Officials said Baldrige will meet Philippines
President Corazon Aquino on April 28 to show continued U.S.
Support for her government and to discuss steps it could take
to improve the atmosphere for American investment.
He will also will meet Finance Secretary Jaime Ongpin and
Trade and Industry Secretary Jose Concepcion.
|
test/16790 | test/16790 |@title u:2 urge:1 japan:1 open:1 farm:1 market:1 |@word agriculture:3 secretary:1 richard:1 lyng:5 ask:1 japan:8 open:2 farm:5 market:2 help:2 washington:1 cut:1 trade:6 deficit:1 ease:1 protectionist:1 pressure:1 ministry:2 official:1 tell:2 reporter:1 hideo:1 maki:4 director:1 general:2 economic:1 affairs:1 bureau:1 quote:2 minister:1 mutsuki:1 kato:5 removal:1 import:1 restriction:1 would:1 well:3 united:1 state:1 meeting:2 12:2 day:1 visit:1 dicuss:1 however:1 reply:1 already:1 world:2 large:2 grain:2 importer:1 add:2 customer:1 u:6 depend:1 domestic:2 output:2 53:1 pct:1 food:1 requirement:1 1985:1 say:5 put:1 high:2 priority:1 talk:2 product:3 name:1 complaint:1 agreement:1 tariffs:1 gatt:2 last:1 year:1 beef:1 citrus:1 rice:2 maintain:1 current:1 level:1 self:1 sufficiency:1 try:2 produce:1 surplus:2 potential:1 production:2 demand:1 suffer:1 rise:1 export:1 country:1 reduce:1 expensive:1 program:1 hold:1 detailed:1 discussion:1 item:1 new:1 round:1 april:1 20:1 representative:1 clayton:1 yeutter:1 join:1 | U.S. URGES JAPAN TO OPEN FARM MARKET FURTHER
U.S. Agriculture Secretary Richard Lyng
has asked Japan to open its farm market further to help
Washington cut its trade deficit and ease protectionist
pressures, an Agriculture Ministry official told reporters.
Hideo Maki, Director General of the ministry's Economic
Affairs Bureau, quoted Lyng as telling Agriculture Minister
Mutsuki Kato that the removal of import restrictions would help
Japan as well as the United States.
The meeting with Kato opened a 12-day visit to Japan by
Lyng, who is here to dicuss farm trade.
However, Maki quoted Kato as replying that Japan was
already the world's largest grain importer.
Kato added Japan is the largest customer for U.S. Grain and
depended on domestic output for only 53 pct of its food
requirements in 1985.
Lyng said the U.S. Put high priority on talks on 12 farm
products named in U.S. Complaints against Japan to the General
Agreement on Tariffs and Trade (GATT) last year, as well as on
beef, citrus products and rice.
Kato said Japan will maintain its current level of
self-sufficiency and will try not to produce surplus rice
because potential production is higher than domestic demand.
The world farm market suffers from surpluses because of
rising production by exporting countries, he added.
Lyng said the U.S. Has been trying to reduce farm product
output with expensive programs, Maki said.
Maki said the U.S. And Japan will hold detailed discussions
on each trade item as well as a new round of GATT trade talks
at a meeting on April 20, in which U.S. Trade Representative
Clayton Yeutter will join.
|
test/16792 | test/16792 |@title federated:1 guaranty:1 fdgc:1 set:1 stock:1 split:1 |@word federated:1 guaranty:1 corp:2 say:3 board:1 declare:1 two:1 one:2 stock:1 split:2 raise:1 quarterly:1 dividend:1 6:1 1:1 2:1 ct:2 per:1 share:2 post:1 six:1 payable:1 june:1 record:1 may:1 15:1 company:1 shareholder:1 annual:1 meeting:1 approve:1 increase:1 authorized:1 common:1 19:1 mln:2 10:1 name:2 change:3 alfa:2 take:1 effect:1 next:1 week:1 along:1 nasdaq:1 ticker:1 symbol:1 | FEDERATED GUARANTY <FDGC.O> SETS STOCK SPLIT
Federated Guaranty corp said
its board declared a two-for-one stock split and raised the
quarterly dividend to 6-1/2 cts per share post-split from six
cts, both payable June One, record May 15.
The company said shareholders at the annual meeting
approved an increase in authorized common shares to 19 mln from
10 mln and a name change to Alfa Corp. It said the name change
should take effect next week, along with a NASDAQ ticker symbol
change to <ALFA.O>.
|
test/16794 | test/16794 |@title reagan:1 announce:1 decision:1 japan:1 sanction:1 |@word president:2 reagan:7 today:1 announce:2 decision:1 tough:2 new:2 tariff:6 japanese:8 export:2 retaliate:3 call:1 japan:6 failure:1 end:3 unfair:3 practice:3 semiconductor:4 trade:15 100:1 pct:1 impose:3 300:1 mln:1 dlrs:1 good:2 recommend:1 curb:1 special:1 panel:2 expert:2 head:1 u:7 representative:1 office:1 last:3 march:3 27:1 would:8 certain:2 take:2 list:2 range:1 computor:1 television:1 set:1 power:1 tool:1 photographic:1 film:1 week:1 winnow:1 20:1 product:2 send:1 recommendation:1 yesterday:2 santa:1 barbara:1 vacation:1 annoucement:1 say:9 commit:1 full:1 enforcement:1 agreement:2 design:1 provide:1 american:2 industry:1 free:1 fair:1 opportunity:1 add:1 lift:1 honor:2 pact:2 sign:1 year:2 dumping:2 world:1 market:3 open:1 home:2 official:3 nothing:1 since:1 announcement:1 alter:1 plan:1 invoke:1 sanction:1 white:1 house:1 spokesman:1 marlin:1 fitzwater:1 want:1 war:2 feel:1 kind:1 action:3 require:1 meaningful:1 move:1 follow:1 steadily:1 rise:1 deicit:1 hit:1 record:1 169:1 8:1 billion:1 one:1 third:1 deficit:1 congress:2 weigh:1 bill:1 force:1 case:2 oppose:1 legislation:2 prevent:1 negotiate:1 solution:1 dispute:1 exist:1 law:1 adqeuate:1 much:2 penalize:1 show:3 need:1 complain:1 time:1 result:1 however:1 monitoring:1 shipment:1 east:1 asian:1 country:1 western:1 europe:1 letup:1 remain:1 shut:1 file:1 complaint:1 general:1 gatt:2 hope:1 find:1 retaliation:2 violate:1 regulation:1 global:1 trading:1 group:1 approve:1 compensation:1 think:1 lose:1 united:1 states:1 | REAGAN TO ANNOUNCE DECISION ON JAPAN SANCTIONS
President Reagan today is to
announce a decision on tough new tariffs on Japanese exports to
retaliate for what he calls Japan's failure to end its unfair
practices in semiconductor trade.
The 100 pct tariffs are to be imposed on 300 mln dlrs of
Japanese goods recommended for curbs by a special panel of
experts headed by the U.S. Trade Representative's Office.
Reagan announced last March 27 he would impose the tariffs
on certain goods taken from a list that ranged from computors
and television sets to power tools and photographic film.
The panel this week winnowed through the list of the some
20 products and sent their recommendations yesterday to Santa
Barbara, where Reagan is vacationing.
In his March annoucement, Reagan said 'I am committed to
full enforcement of our trade agreements designed to provide
American industry with free and fair trade opportunities.'
He added the tariffs would be lifted once Japan honored the
pact it signed last year to end dumping semiconductors in world
markets and opened its home market to U.S. products.
U.S. officials said Japan had done nothing since the March
announcement to alter Reagan's plan to invoke the sanctions.
White House spokesman Marlin Fitzwater said yesterday: 'we
do not want a trade war, but we feel that this is the kind of
action that requires meaningful action.'
Reagan's move follows steadily rising U.S. trade deicits,
with last year's hitting a record $169.8 billion.
About one-third of the deficit is in trade with Japan.
Congress is weighing a trade bill to force the president to
retaliate in certain cases of unfair trade practices.
He has opposed the legislation, saying it would prevent
negotiated solutions to trade disputes and, in any case, that
existing law was adqeuate to end unfair trade practices.
Trade experts say his tough action against the Japanese was
as much to penalize the Japanese as to show Congress he did not
need any new trade legislation.
The Japanese have complained that they have been honoring
the semiconductor pact, but that it would take time before the
results showed up.
U.S. officials, however, have said their monitoring of
Japanese semiconductor shipments to East Asian countries and
Western Europe showed no letup in the dumping and that the
Japanese home markets remained shut to American exports.
Japan has said that if Reagan imposed the tariffs, it would
file a complaint with the General Agreement on Tariff and Trade
(GATT).
It said hoped GATT would find the U.S. retaliation had
violated the regulations of the global trading group and would
approve compensation or Japanese retaliation.
U.S. officials have said they did not think Japan would
retaliate because it had too much to lose in any trade war with
the United States.
|
test/16795 | test/16795 |@title union:1 planters:1 corp:1 upcm:1 1st:1 qtr:1 net:1 |@word shr:1 92:1 ct:3 vs:4 1:1 16:1 dlrs:1 qtly:1 div:1 10:2 prior:1 net:1 5:2 700:2 000:4 400:1 avg:1 shrs:1 6:1 100:1 3:1 note:1 dividend:1 pay:1 may:2 15:1 record:1 one:1 | UNION PLANTERS CORP <UPCM.O> 1ST QTR NET
Shr 92 cts vs 1.16 dlrs
Qtly div 10 cts vs 10 cts prior
Net 5,700,000 vs 5,400,000
Avg shrs 6,100,000 vs 3,700,000
NOTE: Dividend pay May 15, record May One.
|
test/16796 | test/16796 |@title union:1 planters:1 upcm:1 acquisition:1 approve:1 |@word union:1 planters:1 corp:2 say:2 receive:1 regulatory:1 approval:2 previously:1 announce:1 acquisition:2 borc:1 financial:1 first:1 citizens:1 bank:1 hohenwald:1 merchant:1 state:1 holding:1 co:1 expect:1 within:1 10:1 day:1 complete:1 second:1 quarter:1 1987:1 | UNION PLANTERS <UPCM.O> ACQUISITIONS APPROVED
Union Planters Corp said it has
received regulatory approvals for its previously-announced
acquisitions of Borc Financial Corp and First Citizens Bank of
Hohenwald, and approval of its acquisition of Merchants State
Holding Co is expected within 10 days.
All are to be completed during the second quarter of 1987,
it said.
|
test/16797 | test/16797 |@title pioneer:1 savings:1 bank:1 inc:1 psbn:1 2nd:1 qtr:1 net:1 |@word march:1 31:2 end:1 shr:2 65:1 ct:2 vs:6 51:1 net:2 1:8 016:1 738:1 526:1 057:1 avg:2 shrs:2 561:2 774:1 035:2 162:2 1st:1 half:1 dlrs:2 09:1 2:1 050:1 911:1 130:1 462:1 643:1 | PIONEER SAVINGS BANK INC <PSBN.O> 2ND QTR NET
March 31 end
Shr 65 cts vs 51 cts
Net 1,016,738 vs 526,057
Avg shrs 1,561,774 vs 1,035,162
1st half
Shr 1.31 dlrs vs 1.09 dlrs
Net 2,050,911 vs 1,130,462
Avg shrs 1,561,643 vs 1,035,162
|
test/16798 | test/16798 |@title management:1 science:1 america:1 inc:1 msai:1 1st:1 qtr:1 |@word shr:1 loss:4 29:2 ct:2 vs:5 two:1 net:2 5:2 168:1 000:4 410:1 revs:1 46:1 mln:4 4:1 avg:1 shrs:1 17:2 6:1 1:1 note:1 include:1 tax:1 credit:1 3:1 938:1 dlrs:2 394:1 | MANAGEMENT SCIENCE AMERICA INC <MSAI.O> 1ST QTR
Shr loss 29 cts vs loss two cts
Net loss 5,168,000 vs loss 410,000
Revs 46.5 mln vs 29.4 mln
Avg shrs 17.6 mln vs 17.1 mln
NOTE: Net includes tax credits of 3,938,000 dlrs vs 394,000
dlrs.
|
test/16799 | test/16799 |@title general:1 housewares:1 corp:1 ghw:1 1st:1 qtr:1 net:1 |@word shr:1 two:1 ct:2 vs:3 one:1 net:2 42:1 000:3 26:1 sale:1 15:2 6:1 mln:2 2:1 note:1 1987:1 include:1 gain:1 63:1 dlrs:1 change:1 pension:1 accounting:1 | GENERAL HOUSEWARES CORP <GHW> 1ST QTR NET
Shr two cts vs one ct
Net 42,000 vs 26,000
Sales 15.6 mln vs 15.2 mln
NOTE: 1987 net includes gain 63,000 dlrs from change in
pension accounting.
|
test/16800 | test/16800 |@title oakite:1 products:1 inc:1 okt:1 1st:1 qtr:1 net:1 |@word shr:1 53:1 ct:2 vs:3 48:1 net:1 873:1 000:2 773:1 sale:1 19:1 5:1 mln:2 20:1 0:1 | OAKITE PRODUCTS INC <OKT> 1ST QTR NET
Shr 53 cts vs 48 cts
Net 873,000 vs 773,000
Sales 19.5 mln vs 20.0 mln
|
test/16801 | test/16801 |@title bha:1 group:1 inc:1 bhag:1 2nd:1 qtr:1 march:1 31:1 net:1 |@word shr:2 18:2 ct:4 vs:8 15:1 net:2 387:1 000:9 240:1 sale:2 9:1 346:1 8:1 579:1 avg:2 shrs:2 2:3 200:1 1:2 600:2 1st:1 half:1 36:1 26:1 734:1 410:1 4:1 mln:2 17:1 051:1 648:1 | BHA GROUP INC <BHAG.O> 2ND QTR MARCH 31 NET
Shr 18 cts vs 15 cts
Net 387,000 vs 240,000
Sales 9,346,000 vs 8,579,000
Avg shrs 2,200,000 vs 1,600,000
1st half
Shr 36 cts vs 26 cts
Net 734,000 vs 410,000
Sales 18.4 mln vs 17.2 mln
Avg shrs 2,051,648 vs 1,600,000
|
test/16802 | test/16802 |@title p:1 transportation:1 services:1 inc:1 ptsi:1 net:1 |@word 1st:1 qtr:1 shr:1 16:1 ct:2 vs:4 10:1 net:1 808:1 850:1 297:1 266:1 revs:1 13:1 9:1 mln:1 7:1 588:1 280:1 avg:1 shrs:1 4:1 926:1 566:1 3:1 123:1 411:1 | P.A.M. TRANSPORTATION SERVICES INC <PTSI.O> NET
1st qtr
Shr 16 cts vs 10 cts
Net 808,850 vs 297,266
Revs 13.9 mln vs 7,588,280
Avg shrs 4,926,566 vs 3,123,411
|
test/16803 | test/16803 |@title first:1 federal:1 bank:1 ffbn:1 2nd:1 qtr:1 march:1 31:1 net:1 |@word shr:2 84:1 ct:2 vs:6 75:1 net:2 475:1 000:6 425:1 total:2 income:2 7:2 248:1 286:1 1st:1 half:1 1:2 61:1 dlrs:2 50:1 911:1 847:1 14:2 6:1 mln:2 2:1 | FIRST FEDERAL BANK <FFBN.O> 2ND QTR MARCH 31 NET
Shr 84 cts vs 75 cts
Net 475,000 vs 425,000
Total income 7,248,000 vs 7,286,000
1st half
Shr 1.61 dlrs vs 1.50 dlrs
Net 911,000 vs 847,000
Total income 14.6 mln vs 14.2 mln
|
test/16804 | test/16804 |@title global:1 natural:1 resources:1 inc:1 gnr:1 4th:1 qtr:1 loss:1 |@word oper:3 shr:2 loss:6 five:1 ct:3 vs:10 nil:1 ope:1 net:3 1:3 211:1 000:9 2:4 revs:2 6:1 626:1 11:1 0:2 mln:7 avg:2 shrs:2 23:3 5:1 year:2 profit:2 12:1 one:1 632:1 240:1 34:1 8:1 52:1 22:1 9:1 4:1 note:1 exclude:1 extraordinary:1 tax:1 charge:1 919:1 dlrs:4 49:1 quarter:1 credit:1 431:1 335:1 | GLOBAL NATURAL RESOURCES INC <GNR> 4TH QTR LOSS
Oper shr loss five cts vs loss nil
Ope net loss 1,211,000 vs loss 2,000
Revs 6,626,000 vs 11.0 mln
Avg shrs 23.2 mln vs 23.5 mln
Year
Oper shr profit 12 cts vs loss one ct
Oper net profit 2,632,000 vs loss 240,000
Revs 34.8 mln vs 52.0 mln
Avg shrs 22.9 mln vs 23.4 mln
NOTE: Net excludes extraordinary tax charges 1,919,000 dlrs
vs 49,000 dlrs in quarter and credits 1,431,000 dlrs vs
2,335,000 dlrs in year.
|
test/16806 | test/16806 |@title first:1 interstate:1 iowa:1 inc:1 fiia:1 1st:1 qtr:1 |@word shr:1 profit:3 two:2 ct:2 vs:5 loss:4 net:3 251:1 000:8 222:1 note:1 pretax:1 295:1 dlrs:6 256:1 charge:1 earning:1 loan:1 1:2 743:2 2:1 chargeoff:1 636:1 3:1 865:1 | FIRST INTERSTATE OF IOWA INC <FIIA.O> 1ST QTR
Shr profit two cts vs loss two cts
Net profit 251,000 vs loss 222,000
NOTE: Pretax net profit 295,000 dlrs vs loss 256,000 dlrs.
Charge against earnings for loan losses 1,743,000 dlrs vs
2,743,000 dlrs and net chargeoffs 1,636,000 dlrs vs 3,865,000
dlrs.
|
test/16807 | test/16807 |@title double:1 eagle:1 petroleum:1 mining:1 co:1 dblb:1 |@word 2nd:1 qtr:1 feb:1 28:1 shr:2 loss:8 two:1 ct:4 vs:6 eight:2 net:2 33:1 482:1 163:1 130:1 revs:1 143:1 961:1 287:1 131:1 1st:1 half:1 14:1 276:1 238:1 149:1 407:1 rev:1 273:1 737:1 679:1 860:1 | DOUBLE EAGLE PETROLEUM AND MINING CO <DBLB.O>
2nd qtr Feb 28
Shr loss two cts vs loss eight cts
Net loss 33,482 vs loss 163,130
Revs 143,961 vs 287,131
1st half
Shr loss 14 cts vs loss eight cts
Net loss 276,238 vs loss 149,407
Revs 273,737 vs 679,860
|
test/16808 | test/16808 |@title k:1 tel:1 international:1 inc:1 2nd:1 qtr:1 dec:1 31:1 loss:1 |@word shr:2 loss:6 two:1 ct:4 vs:6 profit:2 10:1 net:2 76:1 000:5 357:1 sale:2 8:1 987:1 15:1 3:1 mln:3 1st:1 half:1 12:1 seven:1 440:1 246:1 13:1 2:1 20:1 6:1 | <K-TEL INTERNATIONAL INC> 2ND QTR DEC 31 LOSS
Shr loss two cts vs profit 10 cts
Net loss 76,000 vs profit 357,000
Sales 8,987,000 vs 15.3 mln
1st half
Shr loss 12 cts vs loss seven cts
Net loss 440,000 vs loss 246,000
Sales 13.2 mln vs 20.6 mln
|
test/16809 | test/16809 |@title electromagnetic:1 sciences:1 inc:1 elmg:1 1st:1 qtr:1 |@word shr:1 20:1 ct:2 vs:4 16:1 net:1 1:3 507:1 000:3 147:1 sale:1 13:1 8:2 mln:3 9:1 608:1 backlog:1 52:1 37:1 | ELECTROMAGNETIC SCIENCES INC <ELMG.O> 1ST QTR
Shr 20 cts vs 16 cts
Net 1,507,000 vs 1,147,000
Sales 13.8 mln vs 9,608,000
Backlog 52.1 mln vs 37.8 mln
|
test/16810 | test/16810 |@title cape:1 cod:1 bank:1 trust:1 co:1 ccbt:1 1st:1 qtr:1 net:1 |@word shr:2 95:1 ct:4 vs:5 83:1 dilute:2 89:1 80:1 net:1 2:5 297:1 842:1 1:1 782:1 764:1 avg:2 shrs:2 408:1 332:1 160:1 000:1 573:1 908:1 326:1 667:1 | CAPE COD BANK AND TRUST CO <CCBT.O> 1ST QTR NET
Shr 95 cts vs 83 cts
Shr diluted 89 cts vs 80 cts
Net 2,297,842 vs 1,782,764
Avg shrs 2,408,332 vs 2,160,000
Avg shrs diluted 2,573,908 vs 2,326,667
|
test/16811 | test/16811 |@title holiday:1 corp:1 hia:1 sell:1 stake:1 venture:1 |@word residence:2 inn:2 corp:2 say:1 agree:1 buy:1 holiday:1 equaly:1 joint:1 venture:1 51:1 4:1 mln:1 dlrs:1 closing:1 expect:1 within:1 next:1 week:1 suite:1 system:1 geate:1 extend:1 stay:1 currently:1 93:1 open:1 franchised:1 company:1 hotel:1 nationwide:1 another:1 55:1 construction:1 development:1 | HOLIDAY CORP <HIA> SELLS STAKE IN VENTURE
Residence Inn Corp said it has
agreed to buy Holiday Corp out of their equaly-owned joint
venture for 51.4 mln dlrs, with closing expected within the
next few weeks.
The all-suite Residence Inn system, which is geated to
extended stays, currently has 93 open franchised or
company-owned hotels nationwide and another 55 in construction
or development.
|
test/16812 | test/16812 |@title cadnetix:1 corp:1 cadx:1 3rd:1 qtr:1 march:1 31:1 net:1 |@word oper:4 shr:2 12:3 ct:4 vs:8 five:1 net:3 1:3 715:1 000:7 730:1 sale:2 mln:7 7:2 719:1 avg:2 shrs:2 13:3 9:1 nine:2 mth:2 32:2 18:1 4:2 379:1 2:1 266:1 8:2 23:1 3:1 note:1 prior:1 year:1 exclude:1 extraordinary:1 credit:1 340:1 dlrs:2 quarter:1 190:1 | CADNETIX CORP <CADX.O> 3RD QTR MARCH 31 NET
Oper shr 12 cts vs five cts
Oper net 1,715,000 vs 730,000
Sales 12.1 mln vs 7,719,000
Avg shrs 13.9 mln vs 13.7 mln
Nine mths
Oper shr 32 cts vs 18 cts
Oper net 4,379,000 vs 2,266,000
Sales 32.8 mln vs 23.3 mln
Avg shrs 13.8 mln vs 12.4 mln
NOTE: prior year net excludes extraordinary credits of
340,000 dlrs in quarter and 1,190,000 dlrs in nine mths.
|
test/16813 | test/16813 |@title bush:1 industries:1 inc:1 bsh:1 1st:1 qtr:1 net:1 |@word shr:1 44:1 ct:2 vs:3 11:1 net:1 1:1 328:1 000:2 344:1 sale:1 23:1 0:1 mln:2 12:1 3:1 note:1 share:1 adjust:1 three:1 two:1 stock:1 split:1 february:1 1987:1 | BUSH INDUSTRIES INC <BSH> 1ST QTR NET
Shr 44 cts vs 11 cts
Net 1,328,000 vs 344,000
Sales 23.0 mln vs 12.3 mln
NOTE: Share adjusted for three-for-two stock split in
February 1987.
|
test/16814 | test/16814 |@title plasti:1 line:1 inc:1 sign:1 1st:1 qtr:1 net:1 |@word shr:1 16:2 ct:2 vs:3 net:1 566:1 000:3 563:1 sale:1 14:1 2:1 mln:1 9:1 831:1 | PLASTI-LINE INC <SIGN.O> 1ST QTR NET
Shr 16 cts vs 16 cts
Net 566,000 vs 563,000
Sales 14.2 mln vs 9,831,000
|
test/16815 | test/16815 |@title endata:1 inc:1 data:1 1st:1 qtr:1 net:1 |@word oper:2 shr:1 16:1 ct:2 vs:3 11:1 net:2 660:1 000:5 447:1 revs:1 9:2 936:1 005:1 note:1 1986:1 exclude:1 381:1 dlr:1 tax:1 credit:1 | ENDATA INC <DATA.O> 1ST QTR NET
Oper shr 16 cts vs 11 cts
Oper net 660,000 vs 447,000
Revs 9,936,000 vs 9,005,000
NOTE: 1986 net excludes 381,000 dlr tax credit.
|
test/16816 | test/16816 |@title roto:2 rooter:1 inc:1 1st:1 qtr:1 net:1 |@word shr:1 20:1 ct:2 vs:3 16:1 net:1 973:1 000:3 775:1 revs:1 12:1 8:1 mln:1 9:1 678:1 | ROTO-ROOTER INC <ROTO> 1ST QTR NET
Shr 20 cts vs 16 cts
Net 973,000 vs 775,000
Revs 12.8 mln vs 9,678,000
|
test/16817 | test/16817 |@title birdsboro:1 corp:1 4th:1 qtr:1 loss:1 |@word shr:2 loss:9 24:1 ct:3 vs:8 20:1 net:5 1:6 718:1 000:11 483:1 sale:2 7:1 266:1 6:1 490:1 year:3 83:1 dlrs:7 53:1 13:1 2:2 mln:3 3:1 833:1 19:1 29:1 5:1 note:1 1986:2 include:3 pretax:1 realize:1 secureity:1 transaction:1 4:1 124:1 tax:1 credit:1 751:1 606:1 quarter:1 163:1 289:1 period:1 gain:1 887:1 pension:1 plan:1 termination:1 | <BIRDSBORO CORP> 4TH QTR LOSS
Shr loss 24 cts vs loss 20 cts
Net loss 1,718,000 vs loss 1,483,000
Sales 7,266,000 vs 6,490,000
Year
Shr loss 1.83 dlrs vs loss 53 cts
Net loss 13.2 mln vs loss 3,833,000
Sales 19.1 mln vs 29.5 mln
NOTE: 1986 year net includes pretax realized loss on
secureity transaction of 4,124,000 dlrs.
Net includes tax credits of 751,000 dlrs vs 606,000 dlrs in
quarter and 1,163,000 dlrs vs 2,289,000 dlrs in year.
1986 net both periods includes gain 1,887,000 dlrs from
pension plan termination.
|
test/16818 | test/16818 |@title dynamics:1 research:1 corp:1 drco:1 1st:1 qtr:1 march:1 21:1 |@word shr:1 17:2 ct:2 vs:3 13:1 net:1 673:1 000:2 514:1 revs:1 18:1 4:1 mln:2 2:1 note:1 share:1 adjust:1 five:1 four:1 stock:1 split:1 january:1 1987:1 | DYNAMICS RESEARCH CORP <DRCO.O> 1ST QTR MARCH 21
Shr 17 cts vs 13 cts
Net 673,000 vs 514,000
Revs 18.4 mln vs 17.2 mln
NOTE: Share adjusted for five-for-four stock split in
January 1987.
|
test/16819 | test/16819 |@title martin:1 processing:1 inc:1 mpi:1 1st:1 qtr:1 net:1 |@word oper:2 shr:1 14:1 ct:2 vs:3 10:1 net:2 711:1 000:3 517:1 sale:1 11:2 2:1 mln:2 1:1 note:1 1986:1 exclude:1 84:1 dlr:1 gain:1 discontinue:1 machinery:1 division:1 | MARTIN PROCESSING INC <MPI> 1ST QTR NET
Oper shr 14 cts vs 10 cts
Oper net 711,000 vs 517,000
Sales 11.2 mln vs 11.1 mln
NOTE: 1986 net excludes 84,000 dlr gain from discontinued
machinery division.
|
test/16824 | test/16824 |@title bush:1 industries:1 bsh:1 see:1 high:1 year:1 result:1 |@word bush:1 industries:1 inc:1 say:1 expect:1 high:1 earning:2 sale:3 1987:1 partly:1 due:1 efficiency:1 manufacturing:1 improve:1 margin:1 company:1 report:1 first:1 quarter:1 1:1 328:1 000:3 dlrs:6 344:1 year:2 23:1 0:1 mln:3 12:1 3:1 last:1 earn:1 2:1 506:1 65:1 4:1 | BUSH INDUSTRIES <BSH> SEES HIGHER YEAR RESULTS
Bush Industries Inc said it
expects higher earnings and sales for 1987, partly due to
efficiencies in manufacturing that have improved its margins.
The company reported first quarter earnings of 1,328,000
dlrs, up from 344,000 dlrs a year before, on sales of 23.0 mln
dlrs, up from 12.3 mln dlrs. For all of last year it earned
2,506,000 dlrs on sales of 65.4 mln dlrs.
|
test/16825 | test/16825 |@title j:1 bildner:1 sons:1 inc:1 jbil:1 year:1 jan:1 25:1 net:1 |@word shr:1 13:1 ct:2 vs:4 three:1 net:2 617:1 000:3 112:1 sale:1 31:1 3:2 mln:2 11:1 4:2 avg:1 shrs:1 877:1 057:1 310:1 585:1 note:1 1987:1 include:1 87:1 dlr:1 tax:1 credit:1 | J. BILDNER AND SONS INC <JBIL.O> YEAR JAN 25 NET
Shr 13 cts vs three cts
Net 617,000 vs 112,000
Sales 31.3 mln vs 11.4 mln
Avg shrs 4,877,057 vs 3,310,585
NOTE: 1987 net includes 87,000 dlr tax credit.
|
test/16826 | test/16826 |@title j:2 bildner:1 jbil:1 see:1 improved:1 result:1 |@word bildner:2 sons:1 inc:3 say:2 expect:1 improved:1 earning:2 sale:2 current:1 fiscal:1 year:3 company:1 report:1 end:1 january:1 25:2 617:1 000:2 dlrsl:1 112:1 dlrs:4 31:1 3:1 mln:3 11:1 4:1 also:1 plan:1 offer:1 eurodollar:1 convertible:1 subordinated:1 debenture:1 due:1 2002:1 underwriter:1 lead:1 painewebber:1 group:1 pwj:1 kidder:1 peabody:1 co:1 proceed:1 use:1 finance:1 expansion:1 reduce:1 debt:1 | J. BILDNER <JBIL.O> SEES IMPROVED RESULTS
J. Bildner and Sons Inc said it expects
improved earnings and sales in the current fiscal year.
The company reported earnings for the year ended January 25
of 617,000 dlrsl up from 112,000 dlrs a year before, on sales
of 31.3 mln dlrs, up from 11.4 mln dlrs.
Bildner also said it plans to offer 25 mln dlrs in
Eurodollar convertible subordinated debentures due 2002 through
underwriters led by PaineWebber Group Inc <PWJ> and Kidder,
Peabody and Co Inc, with proceeds to be used to finance
expansion and reduce debt.
|
test/16833 | test/16833 |@title amoco:1 may:1 buy:1 dome:1 dmp:1 report:1 say:1 |@word amoco:9 corp:3 apparently:1 successful:1 bidder:1 debt:1 laden:1 dome:11 petroleum:3 ltd:3 accord:1 publish:1 report:1 toronto:1 globe:2 mail:2 quote:1 source:1 close:1 negotiation:1 today:1 say:6 break:2 talk:2 last:3 night:1 transcanada:5 pipelines:1 week:1 announce:3 4:1 3:1 billion:4 canadian:5 dlr:1 offer:4 asset:1 financial:1 detail:1 available:2 spokesman:2 would:3 neither:1 confirm:1 deny:1 emerge:1 winner:1 newspaper:1 however:2 indicate:1 sale:2 could:1 finalize:1 weekend:1 representative:1 immediately:1 comment:1 sunday:1 also:3 two:2 company:5 refuse:1 identify:1 since:2 market:1 speculation:1 center:1 exxon:1 xon:1 70:1 pct:2 imperial:3 oil:5 subsidiary:2 canada:4 british:1 plc:1 bp:1 royal:1 dutch:1 shell:1 group:1 rd:1 mention:1 possible:1 suitor:1 past:1 day:1 management:1 pressure:1 federal:2 government:4 select:1 bidding:1 prime:1 minister:1 brian:1 mulroney:1 appear:1 want:1 avoid:1 foreign:2 give:2 hundred:1 million:1 dollar:1 tax:2 encourage:1 gas:1 exploration:1 arctic:1 analyst:2 official:1 purchase:1 least:1 likely:1 run:1 afoul:1 antitrust:1 law:1 ask:1 concession:1 try:1 hold:1 deficit:1 30:1 dlrs:3 takeover:1 dominant:1 position:1 industry:1 already:1 large:1 energy:1 1986:2 revenue:2 7:1 1:1 chicago:1 base:1 20:1 23:1 u:1 100:1 | AMOCO <AN> MAY BUY DOME <DMP>, REPORT SAYS
Amoco Corp is apparently the successful
bidder for debt-laden Dome Petroleum Ltd, according to a
published report.
The Toronto Globe and Mail, quoting sources close to the
negotiations, today said Dome broke off talks last night with
TransCanada PipeLines Ltd, which last week announced a 4.3
billion Canadian dlr offer for all of Dome's assets.
No financial details about the Amoco offer were available
and a Dome spokesman would neither confirm nor deny that Amoco
had emerged the winner, the newspaper said.
However, the Dome spokesman indicated that the sale of Dome
could be finalized and announced this weekend, the Globe and
Mail said.
Representatives of Amoco were not immediately available for
comment.
Last Sunday, when TransCanada announced its offer, Dome
said it was also in talks with two other companies, but refused
to identify them.
Since then, market speculation has centered on Amoco and
Exxon Corp's <XON> 70 pct-owned Imperial Oil Ltd subsidiary in
Canada.
British Petroleum PLC <BP> and Royal Dutch/Shell Group <RD>
have also been mentioned as possible suitors for Dome.
In the past two days, Dome management has been pressured by
the federal government to select the offer from TransCanada,
the only Canadian company in the bidding.
Prime Minister Brian Mulroney's government appears to want
to avoid a Dome sale to a foreign company since the government
gave Dome hundreds of millions of dollars in tax breaks to
encourage oil and gas exploration in the Arctic, analysts and
officials have said.
A purchase by TransCanada would be least likely to run
afoul of Canadian antitrust laws, however, TransCanada is
asking for tax concessions from a federal government that is
trying to hold its deficit below 30 billion Canadian dlrs,
analysts have said.
A takeover by Amoco or Imperial would also give a foreign
oil company a dominant position in Canada's oil industry.
Imperial Oil is already Canada's largest energy company,
with 1986 revenues of 7.1 billion Canadian dlrs. Chicago-based
Amoco had 1986 revenues of 20.23 billion U.S. dlrs. Its Amoco
Canada Petroleum subsidiary is 100 pct owned by Amoco Corp.
|
test/16834 | test/16834 |@title gorman:1 rupp:1 co:1 grc:1 set:1 quarterly:1 |@word qtly:1 div:1 21:2 ct:2 vs:1 prior:1 pay:1 june:1 10:1 record:1 may:1 eight:1 | GORMAN-RUPP CO <GRC> SETS QUARTERLY
Qtly div 21 cts vs 21 cts prior
Pay June 10
Record May Eight
|
test/16835 | test/16835 |@title lilly:1 industrial:1 coatings:1 inc:1 licia:1 payout:1 |@word qtly:1 div:1 10:3 1:2 2:2 ct:2 vs:1 prior:1 pay:1 july:1 one:1 record:1 june:1 | LILLY INDUSTRIAL COATINGS INC <LICIA> IN PAYOUT
Qtly div 10-1/2 cts vs 10-1/2 cts prior
Pay July One
Record June 10
|
test/16836 | test/16836 |@title grumman:1 corp:1 gq:1 payout:1 |@word qtly:1 div:1 25:2 ct:2 vs:1 prior:1 pay:1 may:2 20:1 record:1 eight:1 | GRUMMAN CORP <GQ> IN PAYOUT
Qtly div 25 cts vs 25 cts prior
Pay May 20
Record May Eight
|
test/16837 | test/16837 |@title ambrit:1 inc:1 abi:1 payout:1 |@word qtly:1 div:1 two:2 ct:2 vs:1 prior:1 pay:1 may:2 22:1 record:1 eight:1 | AMBRIT INC <ABI> IN PAYOUT
Qtly div two cts vs two cts prior
Pay May 22
Record May Eight
|
test/16838 | test/16838 |@title oneok:1 inc:1 oke:1 payout:1 |@word qtly:1 div:1 64:2 ct:2 vs:1 prior:1 pay:1 may:1 15:1 record:1 april:1 30:1 | ONEOK INC <OKE> IN PAYOUT
Qtly div 64 cts vs 64 cts prior
Pay May 15
Record April 30
|
test/16839 | test/16839 |@title diamond:1 shamrock:1 offshore:1 partner:1 dsp:1 payout:1 |@word qtly:1 div:1 70:2 ct:2 vs:1 prior:1 pay:1 june:1 eight:2 record:1 may:1 | DIAMOND SHAMROCK OFFSHORE PARTNERS <DSP> PAYOUT
Qtly div 70 cts vs 70 cts prior
Pay June Eight
Record May Eight
|
test/16843 | test/16843 |@title french:1 industrial:1 production:1 rise:1 february:1 |@word french:1 industrial:1 production:1 rise:1 seasonally:1 adjust:1 three:1 pct:2 february:2 unrevised:1 1:1 98:1 fall:1 january:2 national:1 statistics:1 institute:1 insee:2 say:1 figure:1 exclude:1 construction:1 public:1 work:1 put:1 index:1 base:2 1980:2 102:1 99:1 change:1 year:1 1970:1 last:1 month:1 | FRENCH INDUSTRIAL PRODUCTION RISES IN FEBRUARY
French industrial production rose a
seasonally adjusted three pct in February after an unrevised
1.98 pct fall in January, the National Statistics Institute
(INSEE) said.
The figure, which excludes construction and public works,
put the February index, base 1980, at 102 after 99 in January.
INSEE changed its base year to 1980 from 1970 last month.
|
test/16848 | test/16848 |@title rlc:2 corp:1 2nd:1 qtr:1 march:1 31:1 net:1 |@word shr:2 loss:4 nil:1 vs:7 profit:4 six:1 ct:3 net:4 89:1 000:6 1:3 136:1 revs:2 105:1 0:1 mln:6 97:1 3:3 1st:1 half:2 two:1 21:1 396:1 790:1 212:1 194:1 8:1 avg:1 shrs:1 18:2 note:1 current:2 quarter:1 include:2 77:1 dlr:1 tax:2 credit:2 reversal:1 2:1 622:1 dlrs:1 investment:1 | RLC CORP <RLC> 2ND QTR MARCH 31 NET
Shr loss nil vs profit six cts
Net loss 89,000 vs profit 1,136,000
Revs 105.0 mln vs 97.,3 mln
1st half
Shr loss two cts vs profit 21 cts
Net loss 396,000 vs profit 3,790,000
Revs 212.1 mln vs 194.8 mln
Avg shrs 18.1 mln vs 18.3 mln
NOTE: Current quarter net includes 77,000 dlr tax credit.
Current half net includes reversal of 2,622,000 dlrs of
investment tax credits.
|
test/16850 | test/16850 |@title fresh:1 juice:1 co:1 inc:1 frsh:1 1st:1 qtr:1 feb:1 28:1 net:1 |@word shr:1 loss:2 five:1 ct:1 net:1 90:1 066:1 sale:1 328:1 127:1 note:1 company:1 begin:1 opeation:1 april:1 1986:1 | FRESH JUICE CO INC <FRSH.O> 1ST QTR FEB 28 NET
Shr loss five cts
NEt loss 90,066
Sales 328,127
NOTE: Company began opeations in April 1986.
|
test/16851 | test/16851 |@title french:1 government:1 set:1 term:1 bimp:1 sale:1 |@word french:1 finance:1 ministry:3 say:3 today:1 public:4 flotation:1 offer:4 open:1 come:1 tuesday:1 39:1 pct:6 capital:3 banque:2 industrielle:1 et:2 mobiliere:1 privee:1 bimp:2 set:1 140:1 franc:1 per:2 share:10 close:1 next:1 friday:1 statement:2 51:2 bank:2 sell:2 solid:1 core:1 large:1 investor:3 include:1 insurance:1 company:1 michelin:1 subsidiary:1 spika:1 145:1 price:1 ten:1 reserve:1 employee:2 get:2 five:3 discount:1 increase:1 20:1 keep:1 two:1 year:3 also:1 one:4 free:3 buy:2 hold:2 least:2 small:1 would:1 receive:1 every:1 10:1 upper:1 limit:1 condition:1 18:1 month:1 state:2 comprise:1 2:1 mln:2 part:1 sweep:1 programme:1 privatise:1 65:2 group:1 separate:1 last:1 week:1 privatisation:1 1:1 07:1 du:1 batiment:1 des:1 travaux:1 btp:1 time:1 oversubscribe:1 | FRENCH GOVERNMENT SETS TERMS OF BIMP SALE
The French Finance ministry said today a
public flotation offer opening this coming Tuesday for 39 pct
of the capital of <Banque Industrielle et Mobiliere Privee>
(BIMP) has been set at 140 francs per share.
The offer closes next Friday. The ministry said in a
statement 51 pct of the bank's capital had been sold to a solid
core of large investors, including insurance companies and
Michelin subsidiary SPIKA, for 145 pct of the public offer
price. Ten pct of the shares have been reserved for employees,
who get a five pct discount increased to 20 pct if they keep
the shares for two years.
Employees also get one free share for each one bought, if
the shares are held for at least one year.
Small investors would receive one free share for every 10
bought, with an upper limit of five free shares per investor,
and on condition the shares are held for at least 18 months.
The state-owned capital of BIMP comprises 2.51 mln shares.
The bank is being sold to the public as part of a sweeping
programme to privatise 65 state-owned groups over five years.
In a separate statement, the ministry said last week's
privatisation offer of 1.07 mln shares in <Banque du Batiment
et des Travaux Publics> (BTP) was 65 times oversubscribed.
|
test/16852 | test/16852 |@title budget:1 chief:1 miller:1 warn:1 fed:1 interest:1 rate:1 |@word white:2 house:2 budget:3 chief:2 james:2 miller:6 say:7 concerned:1 federal:2 reserve:2 may:3 overreact:2 decline:2 value:2 u:5 dollar:3 raise:1 interest:1 rate:1 move:3 could:6 cause:1 recession:2 next:2 year:2 great:1 danger:1 overreaction:2 tell:1 newspaper:1 reporter:1 yesterday:1 concern:4 fed:2 see:1 recent:1 datum:1 show:1 substantial:1 fall:1 money:1 supply:1 edwin:1 dale:1 spokesman:1 remark:2 publish:1 new:1 york:1 times:1 today:1 accurate:1 signal:1 rise:1 inflation:1 tighten:2 credit:2 political:1 consequence:1 appear:1 refer:1 effect:1 economic:3 slowdown:2 presidential:1 congressional:1 election:1 fear:1 get:1 deep:1 soup:1 question:1 lead:1 low:1 tax:1 revenue:1 widening:1 deficit:1 reflect:1 central:1 bank:1 feel:1 compel:1 means:1 bolster:1 treasury:1 secretary:1 baker:1 board:1 chairman:1 paul:1 volcker:1 recently:1 warn:1 jeopardize:1 global:1 growth:2 prospect:1 official:1 urge:1 japan:1 west:1 germany:1 stimulate:1 country:1 boost:1 export:1 relieve:1 trade:1 protectionist:1 pressure:1 united:1 states:1 | BUDGET CHIEF MILLER WARNS FED ON INTEREST RATES
White House Budget chief James
Miller said he was concerned that the Federal Reserve might
'overreact' to the decline in the value of the U.S. dollar by
raising interest rates, a move he said could cause a recession
next year.
'Our greatest danger is overreaction,' Miller told newspaper
reporters yesterday. 'I'm concerned about the Fed's
overreaction. I'm concerned about what I see in recent data
showing a substantial fall in the money supply.'
Edwin Dale, Miller's spokesman, said the remarks, published
in the New York Times today, were accurate.
Miller said he was concerned the Fed might overreact to
signals of rising inflation by tightening credit -- a move he
said could have 'political consequences.'
The White House budget chief appeared to be referring to
the effect an economic slowdown could have on the presidential
and congressional elections next year.
'My fear is that if we get into a recession we are in deep
soup, and there is no question about it,' he said.
Miller said an economic slowdown could lead to lower tax
revenues and a widening of the budget deficit.
Miller's remarks reflected concern that the U.S. central
bank might feel compelled to tighten credit as a means of
bolstering the dollar.
Both Treasury Secretary James Baker and Federal Reserve
Board Chairman Paul Volcker recently have warned that further
declines in the value of the U.S. dollar could jeopardize
global growth prospects.
U.S. officials have urged Japan and West Germany to
stimulate economic growth in their countries -- a move that
could boost U.S. exports and relieve trade protectionist
pressures in the United States.
|
test/16853 | test/16853 |@title bank:1 france:1 see:1 pickup:1 industrial:1 activity:1 |@word bank:1 france:1 say:2 late:1 monthly:1 report:4 french:1 economy:1 expect:3 pickup:1 industrial:3 production:4 register:1 march:2 gather:1 steam:1 next:1 month:2 without:1 give:1 figure:2 last:1 rise:2 partly:1 link:1 effort:1 catch:1 lose:1 earlier:1 year:1 action:1 due:1 mainly:1 firming:1 domestic:2 demand:1 new:1 progress:1 main:1 sector:3 except:2 capital:1 good:3 remain:2 present:1 level:2 add:1 upbeat:1 come:1 wake:1 grim:1 trade:3 balance:1 show:2 deficit:1 first:1 time:1 since:1 june:1 1982:1 automobile:1 industry:1 unchanged:1 previously:1 boost:2 consumer:1 grow:1 accelerate:1 area:1 appliance:1 semi:1 finish:1 clear:1 increase:1 construction:1 civil:1 engineering:1 public:1 work:1 also:1 improve:1 retail:1 sale:1 continue:1 slow:1 | BANK OF FRANCE SEES PICKUP IN INDUSTRIAL ACTIVITY
The Bank of France said in its latest
monthly report on the French economy it expected a pickup in
industrial production registered in March to gather steam over
the next few months.
Without giving figures, the report said last month's rise,
partly linked to efforts to catch up with production lost
earlier this year through industrial action, was due mainly to
a firming of domestic demand.
'New progress is expected in all main sectors except capital
goods where production will remain at its present level,' the
report added.
The upbeat report comes in the wake of grim March trade
balance figures which showed a deficit in industrial trade for
the first time since June 1982.
While the automobile industry remained unchanged from
previously boosted levels, consumer goods production grew and
was expected to accelerate except in the area of domestic
appliances. Semi-finished goods showed a clear increase in all
sectors. Construction and civil engineering, boosted by a rise
in public works, also improved, while retail trade sales in all
sectors continued to slow.
|
test/16854 | test/16854 |@title italian:1 wholesale:1 price:1 0:1 2:1 pct:1 february:1 |@word italy:1 wholesale:1 price:1 index:2 rise:1 0:2 2:2 pct:4 month:2 february:4 1987:2 increase:1 1:4 january:3 national:1 statistics:1 institute:1 istat:1 say:1 base:1 1980:1 equal:1 100:1 register:1 173:1 compare:2 172:1 8:1 figure:1 represent:1 decline:2 1986:1 year:2 7:1 | ITALIAN WHOLESALE PRICES UP 0.2 PCT IN FEBRUARY
Italy's wholesale price index rose 0.2 pct
month-on-month in February 1987 after increasing by 1.1 pct in
January, the national statistics institute ISTAT said.
The index, base 1980 equals 100, registered 173.1 in
February compared with 172.8 in January.
The February figure represents a decline of 0.2 pct
compared with February 1986 after a year-on-year decline in
January 1987 of 1.7 pct.
|
test/16856 | test/16856 |@title yeutter:1 say:1 japanese:1 curb:1 certain:1 u:1 |@word trade:4 representative:1 clayton:1 yeutter:6 say:12 certain:1 president:1 reagan:3 would:10 go:1 ahead:1 today:2 impose:2 curb:1 japanese:6 export:2 plan:1 ask:2 television:1 interview:1 chance:1 cancel:1 schedule:1 100:1 pct:1 tariff:5 electronic:1 slim:1 none:1 announce:1 march:1 27:1 retaliate:2 japan:4 failure:1 honor:2 1986:1 agreement:4 end:1 dump:1 computer:1 semiconductor:2 world:1 market:2 less:1 cost:1 open:1 home:1 u:3 product:1 nbc:1 program:1 united:1 states:1 want:2 terminate:1 drop:1 begin:1 fulfil:1 negotiator:1 last:1 week:2 tell:1 official:1 pact:1 take:3 time:1 monitor:1 compliance:2 long:1 see:4 pattern:1 minimum:1 think:2 much:1 consumer:1 impact:2 300:1 mln:1 dlrs:1 worth:1 good:1 item:1 select:1 also:2 readily:1 available:1 country:2 manufacturer:1 seem:1 interest:1 either:1 get:1 escalate:1 conflict:1 understand:1 full:1 well:1 add:1 may:1 challenge:1 general:1 tariffs:1 gatt:1 paper:1 kind:1 exercise:1 really:1 expect:1 adverse:1 way:2 issue:2 could:1 resolve:2 washington:1 visit:3 later:1 month:1 prime:1 minister:1 yasuhiro:1 nakasone:1 hope:1 major:1 productive:1 practical:1 particular:1 dispute:1 | YEUTTER SAYS JAPANESE CURB ALL BUT CERTAIN
U.S. Trade Representative Clayton
Yeutter said it was all but certain President Reagan would go
ahead today and impose curbs on Japanese exports as planned.
Asked in a television interview what the chance was for
Reagan to cancel the scheduled 100 pct tariffs on Japanese
electronic exports, he said 'slim to none.'
Reagan announced on March 27 he would impose the tariffs to
retaliate for Japan's failure to honor a 1986 agreement to end
dumping computer semiconductors in world markets at less than
cost and to open its home markets to U.S. products.
Yeutter, on the NBC program 'Today,' said the United States
did not want to terminate the agreement and would drop
the tariffs once Japan began fulfilling the agreement.
He said Japanese negotiators last week told U.S. officials
they were honoring the pact, but Yeutter said it would take
time to monitor any compliance.
Asked how long that would take, he said 'We want to see a
pattern of compliance, so in a minimum I would say that would
take a few weeks.'
Yeutter said he did not think there would be much consumer
impact by the tariffs on 300 mln dlrs worth of Japanese goods
because the items selected are also readily available from
other countries and manufacturers.
He said he did not think Japan would retaliate.
'It seems to me it is not in the interests of either country
to get in an escalating conflict. The Japanese understand that
full well,' Yeutter said.
He added Japan might challenge the tariffs in the General
Agreement on Tariffs and Trade (GATT), but 'that's more of a
paper kind of exercise and I don't really expect to see any
adverse impact on U.S. trade.'
Yeutter also said he did not see any way the semiconductor
issue could be resolved before or during a Washington visit
later this month by Japanese Prime Minister Yasuhiro Nakasone.
He said he hoped the visit, which is to have trade as a
major issue, would be productive but 'I don't see any practical
way to resolve this particular dispute before or during his
visit.'
|
test/16858 | test/16858 |@title church:1 fry:1 chicken:1 inc:1 chu:1 1st:1 qtr:1 net:1 |@word shr:1 one:2 ct:4 vs:4 14:1 qtly:1 div:1 11:2 1:2 2:2 prior:1 net:1 411:1 000:2 5:2 299:1 revs:1 88:1 mln:2 108:1 4:1 note:1 dividend:1 pay:1 may:2 18:1 record:1 | CHURCH'S FRIED CHICKEN INC <CHU> 1ST QTR NET
Shr one ct vs 14 cts
Qtly div 11-1/2 cts vs 11-1/2 cts prior
Net 411,000 vs 5,299,000
Revs 88.5 mln vs 108.4 mln
NOTE: Dividend pay May 18, record May One.
|
test/16865 | test/16865 |@title dominion:1 resources:1 inc:1 1st:1 qtr:1 net:1 |@word shr:2 1:2 31:1 dlrs:4 vs:8 03:1 net:2 123:1 mln:10 95:1 revs:2 831:1 764:1 avg:2 shrs:2 94:1 91:1 12:1 mth:1 4:1 38:1 3:2 68:1 409:1 331:1 14:1 billion:2 2:1 77:1 93:1 90:1 | DOMINION RESOURCES INC <D> 1ST QTR NET
Shr 1.31 dlrs vs 1.03 dlrs
Net 123 mln vs 95 mln
Revs 831 mln vs 764 mln
Avg shrs 94 mln vs 91 mln
12 mths
Shr 4.38 dlrs vs 3.68 dlrs
Net 409 mln vs 331 mln
Revs 3.14 billion vs 2.77 billion
Avg shrs 93 mln vs 90 mln
|
test/16868 | test/16868 |@title ford:1 f:1 develop:1 aluminum:1 car:1 frame:1 |@word ford:3 motor:1 co:1 say:5 develop:1 aluminum:3 space:1 frame:4 probe:1 v:1 concept:1 car:3 use:2 extrude:2 stretch:1 form:1 could:2 lead:1 new:1 technique:1 build:1 production:1 future:1 would:2 reduce:3 vehicle:1 weight:3 cost:2 maintain:1 structural:1 integrity:1 crashworthiness:1 part:1 conventional:1 steel:2 company:1 light:1 allow:1 small:1 powertrain:1 suspension:1 improve:1 fuel:1 economy:1 addition:1 extrusion:1 die:2 1:1 000:3 12:1 dlrs:1 compare:1 hundred:1 thousand:1 dollar:1 stamp:1 number:1 weld:1 40:1 2:1 | FORD <F> DEVELOPING ALUMINUM CAR FRAME
Ford Motor Co said it is developing an
aluminum space frame for its Probe V concept car using extruded
stretch-formed aluminum that could lead to new techniques for
building production cars in the future.
It said the frame would reduce vehicle weight and cost
while maintaining structural integrity and crashworthiness. The
frame has fewer parts than conventional steel frames, Ford
said. The company said the lighter weight would allow smaller
powertrains and suspensions, further reducing weight and
improving fuel economy.
Ford said in addition, extrusion dies cost 1,000 to 12,000
dlrs each, compared with hundreds of thousands of dollars for
steel stamping dies, and using extruded aluminum the number of
welds in a car could be reduced to about 40 from over 2,000.
|
test/16871 | test/16871 |@title u:1 commerce:1 trade:1 report:1 omit:1 freight:1 cost:1 |@word commerce:4 department:4 say:7 insurance:6 freight:6 cost:2 import:2 good:1 1:4 45:2 billion:5 dlrs:4 include:2 february:3 trade:6 deficit:7 15:2 report:9 tuesday:1 require:3 law:7 wait:1 48:4 hour:4 initial:1 issue:1 second:5 custom:2 value:1 basis:3 eliminate:3 charge:1 private:1 sector:1 economist:1 emphasize:1 revise:3 simply:1 present:3 figure:9 different:1 washington:1 post:1 cause:1 stir:1 foreign:1 exchange:1 today:1 give:1 impression:1 dealer:1 underlie:1 downward:1 would:5 like:3 change:3 permit:1 set:1 simultaneously:1 feeling:2 one:4 well:2 legislation:1 delay:4 two:3 day:1 robert:1 ortner:3 undersecretary:1 economic:1 affair:1 go:1 long:1 time:3 pay:1 attention:1 dlr:1 compare:1 january:1 12:1 3:1 publish:1 monthly:1 exclude:1 pass:1 1979:1 reportedly:1 first:1 allow:1 comparison:1 country:1 balance:1 always:2 low:2 deduct:2 favorable:2 light:2 reagan:2 administration:2 see:2 consider:2 dinosaur:2 think:2 come:2 | U.S. COMMERCE TRADE REPORT OMITS FREIGHT COSTS
The Commerce Department said on that
insurance and freight costs for imported goods of 1.45 billion
dlrs were included in the February trade deficit of 15.1
billion dlrs reported on Tuesday.
The department is required by law to wait 48 hours after
the initial trade report to issue a second report on a 'customs
value' basis, which eliminates the freight and insurance
charges from the cost of imports.
Private-sector economists emphasized that the Commerce
Department was not revising down the deficit by 1.45 billion
dlrs but simply presenting the figures on a different basis.
A report in the Washington Post caused a stir in the
foreign exchanges today because it gave the impression, dealers
said, that the underlying trade deficit for February had been
revised downward.
The Commerce department would like to have the law changed
to permit it to report both sets of figures simultaneously.
'My feeling is the second one is a better report but there's
legislation that requires us to delay it two days,' said Robert
Ortner, Commerce undersecretary for economic affairs.
'But this has been going on for a long time and no one pays
any attention to the second figure.'
The 15.1 billion dlr February trade deficit compared with a
revised January deficit of 12.3 billion dlrs.
The law requiring a 48-hour delay in publishing the monthly
trade figure excluding freight and insurance was passed in
1979.
Reportedly the feeling was the first figure, which includes
customs, freight and insurance, allowed a better comparison
with other countries that reported their trade balances on the
same basis.
The second figure, which would always be lower by deducting
freight and insurance, presents the deficit in a more favorable
light for the Reagan administration.
Ortner said he would like to see the law changed to
eliminate the 48-hour delay in reporting the two figures.
'We're considering it,' he said, 'It's one of those dinosaur
laws and I think it's time has come.'
The second figure, which would always be lower by deducting
freight and insurance, presents the deficit in a more favorable
light for the Reagan administration.
Ortner said he would like to see the law changed to
eliminate the 48-hour delay in reporting the two figures.
'We're considering it,' he said, 'It's one of those dinosaur
laws and I think its time has come.'
|
test/16872 | test/16872 |@title hong:1 kong:1 firm:1 calmat:1 czm:1 stake:1 12:1 pct:1 |@word industrial:2 equity:2 pacific:1 ltd:2 hong:1 kong:1 investment:1 firm:1 say:2 raise:1 stake:1 calmat:2 co:1 3:2 712:1 860:1 share:3 12:1 2:1 pct:2 total:2 outstanding:1 common:2 stock:1 312:1 460:1 10:2 9:2 filing:1 securities:1 exchange:1 commission:1 principally:1 brierley:1 investments:1 publicly:1 hold:1 new:1 zealand:1 company:1 buy:1 400:2 april:1 13:1 5:1 mln:1 dlrs:1 | HONG KONG FIRM UPS CALMAT <CZM> STAKE TO 12 PCT
Industrial Equity (Pacific) Ltd, a
Hong Kong investment firm, said it raised its stake in CalMat
Co to 3,712,860 shares, or 12.2 pct of the total outstanding
common stock, from 3,312,460 shares, or 10.9 pct.
In a filing with the Securities and Exchange Commission,
Industrial Equity, which is principally owned by Brierley
Investments Ltd, a publicly held New Zealand company, said it
bought 400,400 Calmat common shares between April 9 and 13 for
a total of 10.5 mln dlrs.
|
test/16873 | test/16873 |@title foundation:1 cut:1 wurlitzer:1 wur:1 stake:1 |@word farny:1 r:1 wurlitzer:4 foundation:3 tell:1 securities:1 exchange:1 commission:1 cut:1 stake:2 co:1 89:1 000:3 share:4 4:1 98:1 pct:3 total:1 outstanding:1 common:3 stock:2 125:1 7:1 0:1 say:1 sell:1 36:1 march:1 13:1 30:1 price:1 range:1 3:1 25:1 2:1 375:1 dlrs:1 long:1 five:1 require:1 report:1 dealing:1 company:1 | FOUNDATION CUTS WURLITZER <WUR> STAKE
The Farny R. Wurlitzer Foundation
told the Securities and Exchange Commission it cut its stake in
Wurlitzer Co to 89,000 shares, or 4.98 pct of the total
outstanding common stock, from 125,000 shares, or 7.0 pct.
The foundation said it sold 36,000 Wurlitzer common shares
between March 13 and 30 at prices ranging from 3.25 to 2.375
dlrs a share.
As long as the foundation's stake in Wurlitzer is below
five pct, it is not required to report further dealings it has
in the company's common stock.
|
test/16874 | test/16874 |@title investment:1 firm:1 raise:1 orient:1 express:1 oeh:1 stake:1 |@word two:1 affiliated:1 investment:1 firm:2 fund:1 control:1 tell:1 securities:1 exchange:1 commission:1 raise:1 orient:2 express:2 hotels:1 inc:1 stake:1 1:2 663:1 800:2 share:2 17:1 0:1 pct:2 total:1 560:1 15:1 9:1 boston:1 based:1 fmr:1 corp:1 bermuda:1 base:1 fidelity:1 international:1 ltd:1 say:1 buy:1 combine:1 103:1 000:1 common:1 march:1 12:1 april:1 8:1 price:1 range:1 3:2 05:1 55:1 dlrs:1 | INVESTMENT FIRMS RAISE ORIENT EXPRESS<OEH> STAKE
Two affiliated investment firms and
funds they control told the Securities and Exchange Commission
they raised their Orient Express Hotels Inc stake to 1,663,800
shares, or 17.0 pct of the total, from 1,560,800, or 15.9 pct.
The firms, Boston-based FMR Corp and Bermuda-based Fidelity
International Ltd, said they bought a combined 103,000 Orient
Express common shares from March 12 to April 8 at prices
ranging from 3.05 to 3.55 dlrs each.
|
test/16875 | test/16875 |@title hospital:1 corp:1 hca:1 board:1 buyout:1 bid:1 |@word hospital:2 corp:2 america:1 say:3 management:1 believe:1 47:1 dlr:1 per:1 share:1 acquisition:2 offer:1 receive:1 charles:1 r:1 miller:1 richard:2 e:1 ragsdale:1 l:1 scott:1 good:1 interest:1 shareholder:2 plan:1 meet:1 individual:2 company:2 board:2 consider:1 information:1 three:1 bid:1 give:1 lack:1 demonstrate:1 ability:1 part:1 consummate:1 magnitude:1 decide:1 necessary:1 take:1 action:1 proposal:1 time:1 benefit:1 ongoing:1 reposition:1 program:1 already:1 realize:1 continue:1 explore:1 appropriate:1 alternative:1 enhance:1 value:1 | HOSPITAL CORP <HCA> BOARD AGAINST BUYOUT BID
Hospital Corp of America said
its management believes the 47 dlr per share acquisition offer
it received from Charles R. Miller, Richard E. Ragsdale and
Richard L. Scott is not in the best interest of shareholders,
and it does not plan to meet with the individuals.
The company said its board considered information on the
three and their bid, and 'Given the lack of any demonstrated
ability on the part of these individuals to consummate an
acquisition of this magnitude, the board decided it was not
necessary to take any action on their proposal at this time.'
Hospital Corp said 'The benefits of the company's ongoing
repositioning program are already being realized, and we will
continue to explore appropriate alternatives for enhancing
shareholder value.'
|
test/16884 | test/16884 |@title calny:1 inc:1 clny:1 set:1 quarterly:1 |@word qtly:1 div:1 four:2 ct:2 vs:1 prior:1 pay:1 may:1 13:1 record:1 april:1 29:1 | CALNY INC <CLNY> SETS QUARTERLY
Qtly div four cts vs four cts prior
Pay May 13
Record April 29
|
test/16885 | test/16885 |@title rowan:1 rdc:1 see:1 substantial:1 loss:1 year:1 |@word rowan:2 cos:1 inc:1 say:1 expect:2 incur:1 substantial:1 loss:3 1987:1 despite:1 improvement:1 drilling:2 level:1 gulf:1 mexico:1 north:1 sea:1 offshore:1 onshore:1 company:1 today:1 report:1 first:1 quarter:1 18:1 6:2 mln:4 dlrs:4 12:1 2:1 dlr:2 tax:3 credit:3 compare:1 year:1 early:1 5:1 855:1 000:2 8:1 510:1 1986:1 lose:1 42:1 1:1 47:1 | ROWAN <RDC> SEES SUBSTANTIAL LOSSES FOR YEAR
Rowan Cos Inc said it expects to incur
substantial losses in 1987 despite expected improvement in
drilling levels in the Gulf of Mexico and the North Sea.
The offshore and onshore drilling company today reported a
first quarter loss of 18.6 mln dlrs after a 12.2 mln dlr tax
credit, compared with a year-earlier loss of 5,855,000 dlrs
after a tax credit of 8,510,000 dlrs. For all of 1986, Rowan
lost 42.1 mln dlrs after a 47.6 mln dlr tax credit.
|
test/16886 | test/16886 |@title rowan:1 cos:1 inc:1 rdc:1 1st:1 qtr:1 loss:1 |@word shr:1 loss:4 36:1 ct:2 vs:4 11:1 net:2 18:1 6:1 mln:4 5:1 855:1 000:2 revs:1 23:1 9:2 53:1 note:1 include:1 tax:1 credit:1 12:1 2:1 dlrs:2 8:1 510:1 | ROWAN COS INC <RDC> 1ST QTR LOSS
Shr loss 36 cts vs loss 11 cts
Net loss 18.6 mln vs loss 5,855,000
Revs 23.9 mln vs 53.9 mln
NOTE: Net includes tax credits of 12.2 mln dlrs vs
8,510,000 dlrs.
|
test/16888 | test/16888 |@title care:1 enterprises:1 cre:1 4th:1 qtr:1 loss:1 |@word oper:4 shr:2 loss:4 64:1 ct:4 vs:8 profit:4 11:2 net:4 7:2 229:1 000:10 902:1 revs:2 67:1 6:2 mln:5 66:1 avg:2 shrs:2 3:3 8:3 507:1 year:2 63:1 43:1 177:1 604:1 264:1 238:1 5:1 9:1 827:1 403:1 note:1 1986:2 quarter:2 include:1 731:1 dlr:1 tax:1 credit:1 exclude:1 charge:1 debt:1 restructuring:1 1:1 976:1 dlrs:2 800:1 | CARE ENTERPRISES <CRE> 4TH QTR LOSS
Oper shr loss 64 cts vs profit 11 cts
Oper net loss 7,229,000 vs profit 902,000
Revs 67.6 mln vs 66.7 mln
Avg shrs 11.3 mln vs 8,507,000
Year
Oper shr loss 63 cts vs profit 43 cts
Oper net loss 6,177,000 vs profit 3,604,000
Revs 264.8 mln vs 238.5 mln
Avg shrs 9,827,000 vs 8,403,000
NOTE: 1986 quarter net includes 731,000 dlr tax credit.
1986 net excludes charges from debt restructuring of
1,976,000 dlrs in quarter and 3,800,000 dlrs in year.
|
test/16890 | test/16890 |@title lance:1 inc:1 lnce:1 1st:1 qtr:1 net:1 |@word shr:1 56:1 ct:4 vs:4 46:1 qtly:1 div:1 29:1 27:1 prior:1 net:1 9:1 089:1 000:2 7:1 585:1 sale:1 86:1 8:1 mln:2 83:1 0:1 note:1 pay:1 may:2 15:1 record:1 one:1 | LANCE INC <LNCE> 1ST QTR NET
Shr 56 cts vs 46 cts
Qtly div 29 cts vs 27 cts prior
Net 9,089,000 vs 7,585,000
Sales 86.8 mln vs 83.0 mln
NOTE: Pay May 15, record May One.
|
test/16893 | test/16893 |@title fhlbb:1 report:1 thrift:1 result:1 fourth:1 quarter:1 |@word federal:1 home:1 loan:2 bank:1 board:1 say:4 insured:1 saving:1 association:1 thrift:2 make:2 profit:3 fourth:2 quarter:4 1986:3 report:2 moderate:1 increase:1 net:3 earning:1 74:1 pct:3 tax:1 income:2 2:5 3:5 billion:8 dlrs:8 0:1 earn:1 77:1 profitable:2 industry:2 third:2 whole:1 firm:3 9:1 7:1 1985:2 26:1 loss:2 figure:1 unprofitable:1 1:1 year:1 total:1 8:1 6:1 | FHLBB REPORTS THRIFT RESULTS IN FOURTH QUARTER
The Federal Home Loan Bank Board
said its insured savings and loan associations (thrifts) that
made a profit in the fourth quarter of 1986 reported moderate
increases in net earnings.
It said that the 74 pct of the thrifts reporting profits
had net after-tax income of 2.3 billion dlrs, up from 2.0
billion dlrs earned by 77 pct of the profitable industry in the
third quarter.
For 1986 as a whole, the profitable firms had a net income
of 9.2 billion dlrs, up from 7.3 billion dlrs in 1985.
It said the 26 pct of the industry that made no profit in
the fourth quarter had losses of 3.2 billion dlrs.
The figure for the unprofitable firms was up from 2.1
billion dlrs in the third quarter of 1986, it said.
Over the year, these firms had total losses of 8.3 billion
dlrs, up from 3.6 billion dlrs in 1985.
|
test/16897 | test/16897 |@title soviet:1 industrial:1 output:1 first:1 quarter:1 |@word soviet:1 industrial:1 output:2 first:2 quarter:1 year:2 grow:2 2:1 5:1 pct:2 compare:2 three:1 month:1 1986:1 tass:1 news:1 agency:1 report:1 regular:1 meeting:1 politburo:1 hear:1 march:1 industry:2 achieve:1 average:1 daily:1 rate:1 need:1 fulfil:2 annual:1 target:1 quarterly:1 plan:2 exceed:1 fuel:1 power:1 sector:2 agriculture:1 8:1 7:1 period:1 last:1 say:1 engineering:1 building:1 ministry:1 chemical:1 timber:1 rail:1 transport:1 light:1 add:1 | SOVIET INDUSTRIAL OUTPUT UP IN FIRST QUARTER
Soviet industrial output in the first
quarter of this year grew by 2.5 pct compared with the first
three months of 1986, Tass news agency reported.
A regular meeting of the Politburo heard that in March,
industry achieved the average daily rate needed to fulfil
annual targets.
Quarterly plans were exceeded in the fuel and power sector
and agriculture, where output grew by 8.7 pct compared with the
same period last year, it said. Plans were not fulfilled by the
engineering and building ministries, the chemical and timber
sectors, rail transport and light industry, it added.
|
test/16903 | test/16903 |@title white:1 house:1 say:1 u:1 monetary:1 policy:1 correct:1 |@word white:3 house:3 distance:1 remark:2 administration:3 budget:2 chief:2 say:4 federal:2 reserve:2 current:2 course:2 monetary:2 policy:2 appropriate:2 feel:1 spokesman:1 marlin:1 fitwater:1 fitzwater:1 endorse:1 james:1 miller:1 concern:1 may:1 overreact:1 decline:1 value:1 u:1 dollar:1 raise:1 interest:1 rate:1 | WHITE HOUSE SAYS U.S. MONETARY POLICY CORRECT
The White House,
distancing itself from remarks by the administration's budget
chief, said the Federal Reserve's current course of monetary
policy was appropriate.
'The administration feels that the current course of
monetary policy is appropriate,' White House spokesman Marlin
Fitwater said.
Fitzwater said the administration did not endorse remarks
by White House budget chief James Miller, who said he was
concerned the Federal Reserve might overreact to the decline in
the value of the U.S. dollar by raising interest rates.
More
|
test/16908 | test/16908 |@title u:1 business:1 loan:1 fall:1 1:1 08:1 billion:1 dlrs:1 |@word business:2 loan:2 book:1 major:1 u:1 bank:1 exclude:1 acceptance:2 fall:2 1:3 08:1 billion:4 dlrs:4 276:1 37:1 week:1 end:1 april:1 8:1 federal:1 reserve:1 board:1 say:2 fed:1 include:1 278:1 67:1 | U.S. BUSINESS LOANS FALL 1.08 BILLION DLRS
Business loans on the books of major
U.S. banks, excluding acceptances, fell 1.08 billion dlrs to
276.37 billion dlrs in the week ended April 8, the Federal
Reserve Board said.
The Fed said that business loans including acceptances fell
1.1 billion dlrs to 278.67 billion dlrs.
|
test/16909 | test/16909 |@title communications:1 satellite:1 corp:1 cq:1 1st:1 qtr:1 net:1 |@word shr:1 46:1 ct:4 vs:3 76:1 div:1 30:2 prior:1 net:2 8:1 5:3 mln:3 14:1 0:1 note:1 1987:1 qtr:1 dlr:1 reserve:1 potential:1 refund:2 result:1 federal:1 communications:1 commission:1 continue:1 rate:1 investigation:1 company:1 say:1 believe:1 may:1 make:1 would:1 materially:1 affect:1 financial:1 position:1 | COMMUNICATIONS SATELLITE CORP <CQ> 1ST QTR NET
shr 46 cts vs 76 cts
div 30 cts vs 30 cts prior
net 8.5 mln vs 14.0 mln
NOTE: 1987 qtr net is after a 5.5 mln dlr reserve for a
potential refund as a result of the Federal Communications
Commission's continuing rate investigation. company said it
believes any refunds it may have to make would not materially
affect its financial position.
|
test/16910 | test/16910 |@title american:1 management:1 system:1 amsy:1 1st:1 qtr:1 net:1 |@word shr:2 21:1 ct:2 vs:4 18:1 net:1 1:3 068:1 000:4 902:1 revs:1 38:1 mln:2 29:1 7:1 avg:1 shrs:1 5:2 177:1 120:1 note:1 reflect:1 2:1 stock:1 split:1 june:1 9:1 1986:1 | AMERICAN MANAGEMENT SYSTEMS <AMSY.O> 1ST QTR NET
shr 21 cts vs 18 cts
net 1,068,000 vs 902,000
revs 38.1 mln vs 29.7 mln
avg shrs 5,177,000 vs 5,120,000
NOTE: shr reflects 2-for-1 stock split on June 9, 1986
|
test/16911 | test/16911 |@title hytek:1 microsystems:1 inc:1 htek:1 1st:1 qtr:1 loss:1 |@word shr:1 loss:4 17:1 ct:2 vs:4 14:1 net:1 467:1 000:6 400:1 revs:1 3:2 856:1 423:1 avg:1 shrs:1 2:2 821:1 797:1 | HYTEK MICROSYSTEMS INC <HTEK.O> 1ST QTR LOSS
shr loss 17 cts vs loss 14 cts
net loss 467,000 vs loss 400,000
revs 3,856,000 vs 3,423,000
avg shrs 2,821,000 vs 2,797,000
|
test/16912 | test/16912 |@title tvi:1 corp:1 tvie:1 year:1 1986:1 loss:1 |@word shr:1 loss:2 38:1 ct:2 vs:3 profit:2 two:1 net:1 2:1 254:1 533:1 106:1 621:1 revs:1 3:1 430:1 970:1 4:1 104:1 506:1 | TVI CORP <TVIE.O> YEAR 1986 LOSS
shr loss 38 cts vs profit two cts
net loss 2,254,533 vs profit 106,621
revs 3,430,970 vs 4,104,506
|
test/16913 | test/16913 |@title riggs:1 national:1 corp:1 rigs:1 1st:1 qtr:1 net:1 |@word shr:1 73:1 ct:1 vs:8 1:1 03:1 dlrs:2 net:1 10:1 245:1 000:3 12:2 364:1 avg:1 shrs:1 13:1 981:1 024:1 11:1 968:1 524:1 asset:1 6:2 07:1 billion:6 5:1 22:1 loan:2 2:2 92:1 45:1 deposit:1 4:3 78:1 14:1 note:1 gain:1 sale:1 security:1 mln:3 8:1 loss:1 provision:1 100:1 7:2 | RIGGS NATIONAL CORP <RIGS.O> 1ST QTR NET
shr 73 cts vs 1.03 dlrs
net 10,245,000 vs 12,364,000
avg shrs 13,981,024 vs 11,968,524
assets 6.07 billion vs 5.22 billion
loans 2.92 billion vs 2.45 billion
deposits 4.78 billion vs 4.14 billion
NOTE: gain from sale of securities 4.6 mln vs 12.8 mln.
loan loss provision 100,000 dlrs vs 7.7 mln
|
test/16916 | test/16916 |@title northwest:1 natural:1 gas:1 co:1 nwng:1 1st:1 qtr:1 net:1 |@word shr:1 1:3 35:1 dlrs:2 vs:5 27:1 div:1 39:2 ct:2 prior:1 net:1 14:1 291:1 000:4 13:1 211:1 revs:1 52:1 6:1 mln:2 51:1 avg:1 shrs:1 10:1 234:1 9:1 936:1 | NORTHWEST NATURAL GAS CO <NWNG.O> 1ST QTR NET
shr 1.35 dlrs vs 1.27 dlrs
div 39 cts vs 39 cts prior
net 14,291,000 vs 13,211,000
revs 52.6 mln vs 51.1 mln
avg shrs 10,234,000 vs 9,936,000
|
test/16917 | test/16917 |@title kentucky:1 central:1 kenca:1 unit:1 sell:1 station:1 |@word kentucky:1 central:1 life:1 insurance:1 co:2 say:1 bluegrass:1 broadcasting:1 inc:2 subsidiary:1 agree:1 sell:1 two:1 orlando:1 fla:1 radio:1 station:1 tk:1 communications:1 13:1 5:1 mln:1 dlrs:1 subject:1 fcc:1 approval:1 | KENTUCKY CENTRAL <KENCA.O> UNIT SELLS STATIONS
Kentucky Central Life Insurance
Co said its Bluegrass Broadcasting Co Inc subsidiary has agreed
to sell two Orlando, Fla., radio stations to TK Communications
Inc for 13.5 mln dlrs, subject to FCC approval.
|
test/16918 | test/16918 |@title kimbark:1 oil:1 gas:1 co:1 kimb:1 1986:1 year:1 loss:1 |@word shr:1 loss:4 57:1 ct:1 vs:2 2:1 88:1 dlrs:1 net:1 3:1 442:1 000:2 13:1 750:1 | KIMBARK OIL AND GAS CO <KIMB.O> 1986 YEAR LOSS
shr loss 57 cts vs loss 2.88 dlrs
net loss 3,442,000 vs loss 13,750,000
|
test/16921 | test/16921 |@title southern:1 national:1 corp:1 snat:1 1st:1 qtr:1 net:1 |@word shr:1 47:1 ct:2 vs:2 46:1 net:1 3:2 470:1 859:1 454:1 577:1 | SOUTHERN NATIONAL CORP <SNAT.O> 1ST QTR NET
shr 47 cts vs 46 cts
net 3,470,859 vs 3,454,577
|
test/16922 | test/16922 |@title first:1 bank:2 system:1 fbs:1 sell:1 lewiston:1 |@word first:4 bank:3 system:1 say:1 agreeed:1 sell:1 lewiston:3 subsidiary:1 mont:1 two:1 local:1 banker:1 undisclosed:1 term:1 asset:1 101:1 4:1 mln:1 dlrs:1 end:1 quarter:1 | FIRST BANK SYSTEM <FBS> SELLS LEWISTON BANK
First Bank System said it has
agreeed to sell its First Bank Lewiston subsidiary, of
Lewiston, Mont., to two local bankers for undisclosed terms.
First Bank Lewiston has assets of 101.4 mln dlrs at the end
of the first quarter.
|
test/16923 | test/16923 |@title icn:3 five:1 pct:1 syncor:1 scor:1 |@word pharmaceuticals:1 inc:1 tell:1 securities:1 exchange:1 commission:1 acquire:1 556:1 500:1 share:1 syncor:1 international:1 corp:1 5:1 0:1 pct:1 total:1 outstanding:1 common:1 stock:1 icn:1 say:1 buy:1 stake:1 3:1 9:1 mln:1 dlrs:1 investment:1 plan:1 seek:1 control:1 company:1 participate:1 management:1 | ICN <ICN> HAS FIVE PCT OF SYNCOR <SCOR.O>
ICN Pharmaceuticals Inc told the
Securities and Exchange Commission it has acquired 556,500
shares of Syncor International Corp, or 5.0 pct of the total
outstanding common stock.
ICN said it bought the stake for 3.9 mln dlrs as an
investment and has no plans to seek control of the company or
to participate in the management of it.
|
test/16925 | test/16925 |@title dixon:1 explore:1 sale:1 cyclop:1 cyl:1 unit:1 |@word dixons:1 group:1 plc:1 dxns:1 l:1 british:1 concern:1 recently:1 acquire:1 operational:1 control:2 cyclops:1 corp:1 say:2 explore:2 possibility:2 sell:1 cyclop:3 subsidiary:1 busy:2 beaver:2 building:3 centers:1 inc:1 filing:1 securities:1 exchange:1 commission:1 dixon:2 determine:1 sale:1 follow:1 preliminary:1 review:1 business:1 activity:1 center:1 pittsburgh:1 pa:1 lumber:1 material:1 company:1 win:1 95:1 dlr:1 share:1 tender:1 offer:1 | DIXONS EXPLORING SALE OF CYCLOPS <CYL> UNIT
Dixons Group Plc <DXNS.L>, the
British concern that recently acquired operational control of
Cyclops Corp, said it is exploring the possibility of selling
the Cyclops subsidiary, Busy Beaver Building Centers Inc.
In a filing with the Securities and Exchange Commission,
Dixons said it has determined to explore the possibility of the
sale following its preliminary review of the business and
activities of Cyclops.
Busy Beaver Building Centers is a Pittsburgh, Pa., lumber
and building materials company. Dixons won control of Cyclops
with a 95 dlr a share tender offer.
|
test/16926 | test/16926 |@title japanese:1 tariff:1 see:1 worldwide:1 warning:1 |@word tough:4 trade:19 sanction:5 president:2 reagan:10 impose:2 japanese:2 export:1 shot:3 across:4 japan:6 bow:2 also:2 sign:1 attack:1 unfair:6 practice:5 worldwide:1 u:9 official:4 say:21 robert:1 crandall:4 specialist:1 brookings:1 institution:1 think:3 tank:1 often:1 result:1 stern:1 leave:1 united:4 states:4 open:2 retaliation:4 100:1 pct:2 tariffs:1 order:1 300:1 mln:1 dlrs:2 worth:1 good:2 show:4 congress:8 pro:1 stand:1 take:3 existing:1 law:3 new:1 protectionist:1 legislation:1 need:3 past:1 year:2 action:6 european:1 community:1 corn:1 sorghum:1 taiwan:2 beer:1 wine:1 south:2 korea:2 counterfeiting:1 copyright:1 patent:1 trademarket:1 tobacco:1 white:2 house:2 spokesman:3 marlin:1 fitzwater:4 tell:1 reporter:1 tariff:7 five:1 see:1 serious:1 signal:1 nation:1 fair:1 practices:1 certain:1 computer:1 television:1 set:1 hand:1 tool:2 honor:1 agreement:2 end:2 dumping:1 semiconductor:2 world:2 market:3 less:1 cost:1 product:1 place:1 item:1 available:1 source:1 would:5 little:3 effect:1 american:2 consumer:1 come:1 heavy:1 pressure:1 especially:1 global:1 reverse:1 grow:1 deficit:3 alternative:1 gap:1 last:1 record:1 169:1 8:1 billion:1 continue:1 rise:1 account:1 one:1 third:1 america:1 overall:2 two:1 way:1 canada:1 west:1 germany:1 ready:3 fight:3 announce:1 today:2 regret:1 necessary:2 health:1 vitality:1 industry:1 essential:1 competitiveness:1 allow:1 jeopardize:1 trading:5 add:2 statement:1 california:1 vacation:1 home:1 santa:1 barbara:1 remain:1 force:1 abide:1 write:1 bill:1 like:1 already:1 aide:2 appease:1 however:1 another:1 plane:1 example:1 administration:3 use:3 make:5 major:1 analyst:3 interest:1 negotiation:1 pursue:1 resolve:1 issue:1 dangerous:1 go:1 retaliatory:1 route:1 lead:1 restriction:1 political:2 impact:4 country:2 therefore:2 lot:2 sense:2 difference:2 whether:2 aim:2 partner:4 main:2 point:2 notice:2 weapon:2 want:2 war:2 imposition:2 act:2 evidence:2 pact:2 violate:2 | JAPANESE TARIFFS SEEN AS WORLDWIDE WARNING
The tough trade sanctions President
Reagan imposed on Japanese exports are not only a shot across
Japan's bow but also a sign Reagan will attack unfair trade
practices worldwide, U.S. officials said.
But Robert Crandall, a trade specialist at Brookings
Institution, a think tank, said 'a shot across their bow can
often result in a shot in our stern.'
He said it left the United States open to retaliation.
The U.S. officials said the 100 pct tariffs Reagan ordered
on 300 mln dlrs worth of Japanese goods will also show Congress
that a tough pro-trade stand can be taken under existing laws,
and no new protectionist legislation is needed.
In the past year tough trade action had been taken against
the European Community over corn and sorghum, Taiwan over beer
and wine, South Korea over counterfeiting of copyrights,
patents and trademarkets and Japan on tobacco.
White House spokesman Marlin Fitzwater told reporters the
tariffs - up from five pct - should be seen as a 'serious signal'
to other nations on the need for fair trade practices.
Reagan said he imposed the sanctions on certain computers,
television sets and some hand tools because Japan did not honor
an agreement to end dumping semiconductors in world markets at
less than cost and to open its markets to U.S. products. The
tariffs were placed on items which were available from other
sources so there would be little effect on the American
consumer, Fitzwater said.
Reagan has come under heavy pressure to take tougher action
- especially against Japan - to end global unfair trade
practices and reverse the growing U.S. trade deficit.
The alternative was that if he did not, Congress would.
The U.S. trade gap last year was a record 169.8 billion
dlrs, and continues to rise, with Japan accounting for about
one-third of America's overall deficit.
But there are other two-way deficits - with Canada, West
Germany, Taiwan and South Korea - and Reagan officials said the
president is ready to fight them all.
Reagan said in announcing the sanctions today that 'I regret
that these actions are necessary,' but that the health and
vitality of the U.S. semiconductor industry was essential to
American competitiveness in world markets.
'We cannot allow it to be jeopardized by unfair trading
practices,' Reagan added in the statement from his California
vacation home at Santa Barbara.
He said the tariffs would remain in force until Japan
abided by the agreement.
U.S. officials say the action today will show Congress -
which is about to write a trade bill he does not like - that he
already has the tools needed to fight unfair trade.
The White House aide said of the tariff action, 'it wasn't
done to appease Congress, but because there was an unfair trade
practice.'
The aide added, however, 'on another plane, it was an
example of how the administration uses the trade law to fight
unfair practices, an that it is not necessary to make a major
overall of our trade laws.'
But the analyst, Crandall, said the tariff action was not
in the best interests of the United States, and that
negotiations should have been pursued to resolve the issue.
'It's very dangerous to go down the retaliatory route,' he
said, 'because it leads to more retaliation and restrictions in
trade.'
Crandall said, 'the administration is doing this for its
political impact across the country, and therefore its impact
on Congress.'
He said, 'I don't think it makes a lot of sense.'
But other analysts said it made little difference whether
the tariffs were aimed at U.S. trading partners or Congress,
and that the main point was that the trading partners were on
notice that retaliation was a weapon Reagan was ready to use.
Spokesman Fitzwater said 'we don't want a trade war,' but the
imposition of sanctions showed the United States would act when
it had evidence that trade pacts were being violated.
Crandall said, 'the administration is doing this for its
political impact across the country, and therefore its impact
on Congress.'
He said, 'I don't think it makes a lot of sense.'
But other analysts said it made little difference whether
the tariffs were aimed at U.S. trading partners or Congress,
and that the main point was that the trading partners were on
notice that retaliation was a weapon Reagan was ready to use.
Spokesman Fitzwater said 'we don't want a trade war,' but the
imposition of sanctions showed the United States would act when
it had evidence that trade pacts were being violated.
|
test/16929 | test/16929 |@title yeutter:1 almost:1 sure:1 japan:1 retaliate:1 u:1 |@word trade:2 representative:1 clayton:1 yeutter:4 say:5 almost:1 sure:2 japan:4 would:3 retaliate:2 tariffs:1 president:1 reagan:2 slap:1 300:1 mln:1 dlrs:1 japanese:2 electronic:1 good:2 today:2 99:1 plus:1 pct:2 tariff:2 provoke:1 retaliation:3 american:2 product:3 tell:1 cable:1 news:1 network:1 far:1 much:1 stake:1 relationship:1 united:1 states:1 seriously:1 entertain:1 thought:1 earlier:1 impose:1 100:1 range:1 alleged:1 violation:1 bilateral:1 pact:1 govern:1 semiconductor:1 u:1 farm:1 target:1 tokyo:1 decide:1 hit:1 back:1 probably:1 something:1 like:1 agricultural:1 really:1 think:1 chance:1 happen:1 slim:1 none:1 add:1 | YEUTTER ALMOST SURE JAPAN WILL NOT RETALIATE
U.S. Trade Representative Clayton
Yeutter said he was almost sure Japan would not retaliate
against tariffs President Reagan slapped on 300 mln dlrs of
Japanese electronic goods today.
'I'd say it's 99 plus pct sure that it (the tariffs) will
not provoke a retaliation on American products,' Yeutter told
Cable News Network.
'Japan has far too much at stake in this relationship (with
the United States) to seriously entertain thoughts of
retaliation,' Yeutter said.
Earlier today, Reagan
imposed 100 pct tariffs on a range of
Japanese goods in retaliation for Japan's alleged violation of
a bilateral pact governing semiconductor trade.
Yeutter did say that U.S. farm products would be targeted
if Tokyo decided to hit back.
'If they (Japan) were to retaliate, it would probably be on
something like American agricultural products,' he said.
'But I really think the chances of that happening are
between slim and none,' he added.
|
test/16932 | test/16932 |@title japan:1 retaliate:1 u:1 tariff:1 |@word japan:2 plan:1 take:1 immediate:1 retaliatory:1 action:1 implementation:1 u:2 tariff:2 japanese:2 electronic:1 good:1 minister:1 international:1 trade:2 industry:1 hajime:1 tamura:2 say:2 statement:1 request:1 bilateral:1 consultation:1 accordance:1 article:1 23:1 1:1 general:1 agreement:1 tariffs:1 gatt:1 washington:1 yesterday:1 deep:1 regret:1 measure:1 impose:1 100:1 pct:1 300:1 mln:1 dlrs:1 worth:1 import:1 small:1 computer:1 colour:1 television:1 set:1 power:1 tool:1 | JAPAN WILL NOT RETALIATE NOW AGAINST U.S. TARIFFS
Japan does not plan to take immediate
retaliatory action against implementation of U.S. Tariffs on
some Japanese electronic goods, the minister of international
trade and industry, Hajime Tamura, said in a statement.
Japan requested bilateral consultations in accordance with
Article 23-1 of the General Agreement on Tariffs and Trade
(GATT) in Washington yesterday.
Tamura said there was deep regret over the U.S. Measures,
which will impose 100 pct tariffs on about 300 mln dlrs worth
of Japanese imports of some small computers, colour television
sets and power tools.
|
test/17031 | test/17031 |@title southam:1 inc:1 stm:1 1st:1 qtr:1 net:1 |@word oper:2 shr:2 32:1 ct:3 vs:3 37:1 net:2 18:1 9:1 mln:5 21:1 6:1 revs:1 352:1 1:1 323:1 0:1 note:1 1987:1 exclude:1 extraordinary:1 gain:1 2:1 8:1 dlrs:1 five:1 sale:1 surplus:1 property:1 | SOUTHAM INC <STM.TO> 1ST QTR NET
Oper shr 32 cts vs 37 cts
Oper net 18.9 mln vs 21.6 mln
Revs 352.1 mln vs 323.0 mln
Note: 1987 net excludes extraordinary gain of 2.8 mln dlrs
or five cts shr from sale of surplus property.
|
test/17032 | test/17032 |@title loctite:1 corp:1 loc:1 3rd:1 qtr:1 march:1 31:1 net:1 |@word shr:2 96:1 ct:2 vs:6 53:1 net:2 8:3 663:1 000:2 4:1 798:1 revs:2 89:1 7:1 ln:1 66:1 mln:5 nine:1 mth:1 2:1 33:1 dlrs:2 1:3 67:1 21:1 15:1 241:1 3:1 192:1 | LOCTITE CORP <LOC> 3RD QTR MARCH 31 NET
Shr 96 cts vs 53 cts
Net 8,663,000 vs 4,798,000
Revs 89.7 m ln vs 66.8 mln
Nine mths
Shr 2.33 dlrs vs 1.67 dlrs
Net 21.1 mln vs 15.1 mln
Revs 241.3 mln vs 192.8 mln
|
test/17034 | test/17034 |@title glenfed:1 inc:1 gln:1 3rd:1 qtr:1 march:1 31:1 net:1 |@word oper:6 shr:2 1:4 54:1 dlrs:3 vs:11 82:1 ct:1 net:3 33:1 7:1 mln:10 17:2 66:1 revs:2 473:1 419:1 0:2 nine:3 mth:3 4:2 60:1 2:1 39:1 100:1 51:1 38:1 billion:8 21:1 asset:1 18:1 5:3 15:3 deposit:1 13:1 00:1 11:3 29:1 loan:2 04:1 12:1 56:1 note:1 exclude:2 extraordinary:1 loss:1 6:2 636:1 000:2 9:1 1987:1 qtr:2 prepayment:1 borrowing:1 federal:1 home:1 bank:1 board:1 also:1 tax:1 credit:1 8:2 954:1 | GLENFED INC <GLN> 3RD QTR MARCH 31 NET
Oper shr 1.54 dlrs vs 82 cts
Oper net 33.7 mln vs 17.66 mln
Revs 473.1 mln vs 419.0 mln
Nine mths
Oper shr 4.60 dlrs vs 2.39 dlrs
Oper net 100.4 mln vs 51.0 mln
Revs 1.38 billion vs 1.21 billion
Assets 18.5 billion vs 15.5 billion
Deposits 13.00 billion vs 11.29 billion
Loans 15.04 billion vs 12.56 billion
Note: Oper net excludes extraordinary loss 6,636,000 and
11.9 mln for 1987 qtr and nine mths on prepayment of borrowings
from the Federal Home Loan Bank Board.
Oper also excludes tax credits of 15.8 mln vs 5,954,000 for
qtr and 17.8 mln vs 11.6 mln for nine mths.
|
test/17035 | test/17035 |@title horizon:1 industries:1 inc:1 hrzn:1 2nd:1 qtr:1 net:1 |@word qtr:1 end:1 april:1 four:1 shr:2 profit:4 eight:1 ct:4 vs:6 loss:4 22:1 net:2 341:1 000:4 903:1 revs:2 58:1 4:2 mln:3 46:1 3:1 six:1 mth:1 35:1 19:1 1:1 466:1 767:1 121:1 ln:1 95:1 9:1 | HORIZON INDUSTRIES INC <HRZN> 2ND QTR NET
Qtr ended April four
Shr profit eight cts vs loss 22 cts
Net profit 341,000 vs loss 903,000
Revs 58.4 mln vs 46.3 mln
Six mths
Shr profit 35 cts vs loss 19 cts
Net profit 1,466,000 vs loss 767,000
Revs 121.4 ln vs 95.9 mln
|
test/17036 | test/17036 |@title fed:1 datum:1 provide:1 new:1 evidence:1 tight:1 policy:1 u:1 |@word banking:1 datum:2 release:1 today:2 distorted:1 draw:1 sweeping:1 conclusion:1 monetary:1 policy:3 support:1 market:2 assumption:1 federal:1 reserve:11 start:2 tighten:3 grip:1 credit:2 economist:7 say:10 clear:1 fed:19 firm:1 somewhat:1 discount:5 window:4 borrowing:4 net:1 free:1 fund:5 rate:4 average:2 pattern:1 addition:1 consistent:1 modest:1 tightening:1 dana:1 johnson:3 first:3 chicago:2 corp:1 several:1 estimate:2 trade:3 6:5 1:4 4:2 3:4 8:3 pct:3 week:8 wednesday:4 935:1 mln:4 dlrs:9 day:5 produce:1 daily:2 two:4 statement:2 period:2 689:1 high:2 since:1 december:1 31:1 1986:1 393:1 previously:1 moreover:1 bank:5 force:2 borrow:1 huge:1 5:2 2:2 billion:5 total:1 year:1 even:2 though:1 unexpectedly:1 low:2 treasury:2 balance:1 leave:2 anticipate:1 however:1 almost:1 certain:1 aim:1 much:2 witness:1 point:1 factor:1 may:4 scramble:1 end:3 expect:2 money:1 supply:1 april:1 29:1 rise:3 staggering:1 15:1 20:1 partly:1 reflect:1 parking:1 check:2 account:2 proceed:1 stock:1 sale:1 mutual:1 redemption:1 pay:1 annual:1 income:1 taxis:1 liability:1 require:2 hold:1 deposit:1 indeed:1 sharply:1 believe:1 magnitude:1 project:1 surge:1 late:2 add:3 second:1 apparent:1 shortage:2 bill:1 apparently:1 wall:1 street:1 dealer:1 little:1 collateral:2 enagage:1 repurchase:1 agreement:1 thus:1 although:1 10:1 repos:1 outstanding:1 night:1 want:2 prevent:1 inconceivable:1 ward:1 mccarthy:2 merrill:1 lynch:1 economics:1 inc:1 targette:1 400:1 equivalent:1 around:1 cite:2 reason:1 probably:1 degree:1 suggest:1 fact:1 delay:1 arrange:1 overnight:1 injection:1 last:1 good:1 sign:1 restrictive:1 jeffrey:1 leeds:1 chemical:1 convince:1 review:1 figure:1 fair:1 move:1 toward:1 slightly:1 less:1 accommodative:1 posture:1 leed:1 feed:1 unlikely:1 raise:1 unless:1 dollar:3 fall:1 gather:1 pace:1 agree:1 political:1 opposition:1 washington:1 defense:1 package:1 time:1 congress:1 see:1 depreciation:1 key:1 reduce:1 u:1 surplus:1 japan:1 | FED DATA PROVIDE NEW EVIDENCE OF TIGHTER POLICY
U.S. banking data released today are
too distorted to draw sweeping conclusions about monetary
policy, but they do support the market's assumption that the
Federal Reserve has started to tighten its grip on credit,
economists said.
'It's clear that the Fed has firmed somewhat. Discount
window borrowings, net free reserves, the Fed funds rate
average and the pattern of reserve additions are all consistent
with a modest tightening,' said Dana Johnson of First Chicago
Corp.
Johnson, and several other economists, now estimate that
the Fed funds rate should trade between 6-1/4 and 6-3/8 pct.
Discount window borrowings in the week to Wednesday were
935 mln dlrs a day, producing a daily average for the two-week
statement period of 689 mln dlrs, the highest since the week of
December 31, 1986, and up from 393 mln dlrs previously.
Moreover, banks were forced to borrow a huge 5.2 billion
dlrs from the Fed on Wednesday - the highest daily total this
year - even though unexpectedly low Treasury balances at the
Fed that day left banks with over two billion dlrs more in
reserves than the Fed had anticipated.
However, economists said it is almost certain that the Fed
is aiming for much lower discount window borrowings than
witnessed this week. They pointed to two factors that may have
forced banks to scramble for reserves at the end of the week.
First, economists now expect M-1 money supply for the week
ended April 29 to rise by a staggering 15 to 20 billion dlrs,
partly reflecting the parking in checking accounts of the
proceeds from stock market sales and mutual fund redemptions to
pay annual income taxes.
As banks' checking-account liabilities rise, so do the
reserves that they are required to hold on deposit at the Fed.
Required reserves did indeed rise sharply by 2.5 billion
dlrs a day in the two weeks ended Wednesday, but economists
said the Fed may not have believed in the magnitude of the
projected M-1 surge until late in the week and so started to
add reserves too late.
Second, an apparent shortage of Treasury bills apparently
left Wall Street dealers with too little collateral with which
to enagage in repurchase agreements with the Fed, economists
said. Thus, although there were 10.3 billion dlrs of repos
outstanding on Wednesday night, the Fed may have wanted to add
even more reserves but was prevented from doing so.
'It's not at all inconceivable that the Fed didn't add as
much as they wanted to because of the shortage of collateral,'
said Ward McCarthy of Merrill Lynch Economics Inc.
McCarthy estimated that the Fed is now targetting
discount-window borrowings of about 400 mln dlrs a day,
equivalent to a Fed funds rate of around 6-3/8 pct.
After citing the reasons why the Fed probably has not
tightened credit to the degree suggested by the data,
economists said the fact that the Fed delayed arranging
overnight injections of reserves until the last day of the
statement period was a good sign of a more restrictive policy.
Jeffrey Leeds of Chemical Bank had not been convinced that
the Fed was tightening policy. But after reviewing today's
figures, he said, 'It's fair to say that the Fed may be moving
toward a slightly less accommodative reserve posture.'
Leeds expects Fed funds to trade between 6-1/4 and 6-3/8
pct and said the Fed is unlikely to raise the discount rate
unless the dollar's fall gathers pace.
Johnson at First Chicago agreed, citing political
opposition in Washington to a dollar-defense package at a time
when Congress sees further dollar depreciation as the key to
reducing the U.S. trade surplus with Japan.
|
test/17037 | test/17037 |@title rorer:1 group:1 inc:1 ror:1 1st:1 qtr:1 net:1 |@word oper:4 shr:1 profit:2 34:1 ct:2 vs:3 loss:2 78:1 net:1 7:3 434:1 000:1 17:1 0:1 mln:6 revs:1 201:1 2:1 171:1 note:1 year:2 ago:2 exlude:1 gain:1 sale:1 business:2 139:1 6:1 include:1 charge:1 27:1 8:1 result:1 allocation:1 purchase:1 price:1 revlon:1 inventory:1 1:1 restructuring:1 cost:1 | RORER GROUP INC <ROR> 1ST QTR NET
Oper shr profit 34 cts vs loss 78 cts
Oper net profit 7,434,000 vs loss 17.0 mln
Revs 201.2 mln vs 171.7 mln
Note: Year-ago oper exludes gain on sale of businesses of
139.6 mln.
Year-ago oper includes charges of 27.8 mln resulting from
allocation of the purchase price of Revlon's businesses to
inventory and 7.1 mln for restructuring costs.
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test/17038 | test/17038 |@title mild:1 coffee:1 grower:1 meet:1 guatemala:1 |@word large:1 group:1 mild:1 coffee:3 grow:1 nation:2 hold:1 talk:1 guatemala:1 next:2 month:1 map:1 strategy:2 september:1 meeting:1 international:1 organisation:1 ico:2 mario:1 fernandez:2 executive:1 director:1 costa:2 rican:1 institute:1 say:3 delegate:1 mexico:1 dominican:1 republic:1 peru:1 ecuador:1 india:1 papua:1 new:1 guinea:1 five:1 central:1 american:1 participate:1 two:1 day:1 session:1 begin:1 may:1 4:1 main:1 topic:1 reform:1 many:1 produce:1 country:2 perceive:1 unfair:1 distribution:1 export:2 quota:3 rica:1 would:1 press:1 base:2 real:1 production:2 potential:1 past:1 year:1 distribute:1 historic:1 level:1 rather:1 recent:1 harvest:1 crop:1 estimate:1 | MILD COFFEE GROWERS TO MEET IN GUATEMALA
A large group of 'other milds'
coffee-growing nations will hold talks in Guatemala next month
to map their strategy for next September's meeting of the
International Coffee Organisation (ICO).
Mario Fernandez, executive director of the Costa Rican
coffee institute, said delegates from Mexico, the Dominican
Republic, Peru, Ecuador, India, Papua New Guinea and five
central american nations will participate in the two-day
strategy session beginning May 4.
The main topic will be reform of what many producing
countries perceive as the ICO's unfair distribution of export
quotas, Fernandez said.
He said Costa Rica would press for quotas 'based on the
real production and export potential of each country in the
past few years' and to distribute quotas based on 'historic'
production levels rather than recent harvests and crop
estimates.
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