label
class label 52
classes | text
stringlengths 30
6.12k
|
|---|---|
0acq
|
convergent technologies cvgt to buy oakleaf convergent technologies inc said it has reached an agreement in principle to buy oakleaf corp which supplies finance insurance and leasing computers to auto dealers the transaction will involve an exchange of oakleaf stock for cash and debt and is subject to a definitive agreement the companys said no other terms were disclosed oakleaf had sales of about mln dlrs reuter
|
10crude
|
nymex will expand off hour trading april one the new york mercantile exchange set april one for the debut of a new procedure in the energy complex that will increase the use of energy futures worldwide on april one nymex will allow oil traders that do not hold a futures position to initiate after the exchange closes a transaction that can subsequently be hedged in the futures market according to an exchange spokeswoman this will change the way oil is transacted in the real world said said thomas mckiernan mckiernan and co chairman foreign traders will be able to hedge trades against nymex prices before the exchange opens and negotiate prices at a differential to nymex prices mckiernan explained the expanded program will serve the industry because the oil market does not close when nymex does said frank capozza secretary of century resources inc the rule change which has already taken effect for platinum futures on nymex is expected to increase the open interest and liquidity in u s energy futures according to traders and analysts currently at least one trader in this transaction called an exchange for physical or efp must hold a futures position before entering into the transaction under the new arrangement neither party has to hold a futures position before entering into an efp and one or both parties can offset their cash transaction with a futures contract the next day according to exchange officials when nymex announced its proposed rule change in december nymex president rosemary mcfadden said expansion of the efp provision will add to globalization of the energy markets by providing for in effect hour trading the commodity futures trading commission approved the rule change in february according to a cftc spokeswoman reuter
|
0acq
|
rospatch rpch to respond to diagnostic drs rospatch corp said it will have a news release later in response to today s acquisition bid by diagnostic retrieval systems inc for dlrs a share rospatch earlier requested its stock be halted in over the counter trading last trade diagnostic said its bid was for a total mln dlrs through a cash tender offer for all but not less than pct of rosptach outstanding common for its fourth quarter ended december rospatch reported net loss or dlrs a share compared a loss of or cts profit for the period in december the brookehill group in new york said it had pct stake j a parini rospatch chief executive responded on january eight by saying the investment was a vote in confidence in the company reuter
|
12earn
|
green tree acceptance inc gnt sets dividend qtly dividend cts vs cts pay march record march reuter
|
0acq
|
rospatch corp rejects offer from diagnostic retrieval systems inc
|
0acq
|
north american group namg buys georgia firm north american group ltd s north american acquisition corp said it has a definitive agreement to buy pct of pioneer business group inc of atlanta terms of the acquisition were not disclosed closing of the acquisition is scheduled for april north american acquisition said the agreement is subject to due diligence and a satisfactory review of pioneer s operation pioneer makes business forms reuter
|
0acq
|
talking point viacom international via a bidding war for viacom international inc one of the largest u s entertainment companies pitted a management group and other investors against national amusements inc a closely held theater operator both sides raised their bids over the weekend a source close to the management side insisted that timing was on his side he said if outside directors approve the management proposal a merger plan could be put to a vote of shareholders with proxy material going out late this week it would take days from the day we mail said the source the source predicted national amusements controlled by investor sumner redstone would need half a year to complete a tender offer because of the regulatory approvals that must accompany any change in control of viacom s broadcast licenses and cable television franchises redstone was not available for comment some of wall street s arbitrage players said it was a rare situation that could only be enjoyed a true bidding war one said redstone could begin a tender offer whenever he wanted and if enough people were convinced his proposal was superior to the viacom management plan he would have a chance to win the independent directors of viacom were called into a meeting today word on a decision was expected early tomorrow viacom shares climbed to by midafternoon one major wall street firm issued a sell recommendation we think we re at the end now in terms of bidding said the firm s arbitrageur who spoke on condition he not be identified both redstone s proposal and the management proposal would create a restructured company heavily leveraged with debt the management plan would result in a balance sheet with about billion dlrs in debt and nearly mln dlrs in preferred stock convertible into pct of the common stock redstone s newest proposal offers holders dlrs in cash a fraction of a share of exchangeable preferred stock with a value of dlrs and one fifth of a share of common stock stock of arsenal holdings representing pct of the equity interest in the restructured viacom one arbitrageur calculated the equity in the redstone plan was worth dlrs making the total package worth dlrs per share management offered dlrs in cash exchangeable preferred stock worth dlrs and a fractional share of convertible preferred the arbitrageur said the equity portion was worth about dlrs for a total of dlrs redstone s newest plan raised the amount of interest he would pay on the cash portion of his offer for every day beyond april that a merger with arsenal is not consummated the plan calls for intest to be paid at an annual rate of nine pct during may and pct thereafter previously redstone offered eight pct interest other arbitrageurs said both redstone and the management group led by president and chief executive terrence elkes were offering high prices redstone really wants to own the company one said another said management seemed to have the edge on the timing issue redstone s company owns pct ov viacom s mln shares a wall street analyst said it was hard to determine what the equity in the newly leveraged company would be worth he noted as an example that new stock in fmc corp fmc which adopted a highly leveraged structure last year inititally traded at dlrs per share dipped to nine dlrs and is now just over dlrs last week viacom reported fourth quarter earnings fell two two cts per share from cts the company said interest costs from several acquisitions affected results shares of warner communications inc wci rose to analysts noted warner owns warrants to purchase mln viacom shares at dlrs and another mln shares at dlrs chris craft industries ccn which owns a stake in warner rose to viacom was created in and spun off from cbs inc cbs the company has cable television subscribers operates nine satellite television services and owns television and radio stations it is one of the largest distributors of films and other programs for television reuter
|
12earn
|
up right inc upri th qtr oper net oper shr five cts vs cts oper net vs revs mln vs mln year oper shr cts vs cts oper net vs revs mln vs mln note oper data does not include th qtr extraordinary credit of dlrs or th qtr extraordinary loss of dlrs or five cts per shr for year does not include extraordinary credit of dlrs or three cts per shr in and dlrs or five cts per shr in reuter
|
48trade
|
talks show new canadian confidence group says canada s decision to raise the issue of a free trade pact with the u s was a sign of what many see as a new spirit of canadian self confidence a public policy study group said it suggests the canada of the immediate post war period when it was a major player in the process of building a postwar world the washington based atlantic council said u s and canadian negotiators opened talks last summer aimed at dismantling trade barriers between the two countries the world s biggest trading partners with crossborder shipments of about billion dlrs annually the council s study said the trade talks with a deadline of october for an agreement are the biggest issue in u s canadian relations the study said liberalized trade between the two countries would improve the competitiveness of their economies in world markets and lessen trade irritants which now mar their ties the council said in the past most canadians have shied away from the notion of a free trade arrangement fearing to be overwhelmed economically and politically by a closer association with a country times their size in population but at the same time it added canadians realized their domestic market was too small to permit the mass production and sales needed to raise productivity to the level demanded by an increasingly competitive world the council said that in the talks canada is chiefly interested in minimizing the imposing of u s duties against allegedly subsidized exports a recent example was the per cent duty the u s imposed on canadian lumber exports on grounds the shipments were being subsidized the council said the chief u s concerns included ending curbs against u s banking insurance telecommunications and the so called cultural industries publishing broadcasting and films it said other major u s canadian issues were defense cooperation acid rain and the u s rejection of a canadian assertion of sovereignty over waters of the northwest passage reuter
|
12earn
|
albertson s inc abs raises qtly dividend shr cts vs cts pay may record may eight reuter
|
0acq
|
wavehill international to make acquisition wavehill international ventures inc said it has agreed to acquire personal computer rental corp of coral gables fla in a transaction in which shareholders of personal computer will receive shares respresenting about a pct interest in the combined company the company said it will have about two mln shares outstanding on a fully diluted basis after the transaction it said after the acquisition it will infuse perconal computer with cash for expansion it said personal computer now has franchised locations and plans to add over in seeking eventually to expand into markets in the u s and abroad reuter
|
0acq
|
security pacific spc completes merger security pacific corp said it completed its planned merger with diablo bank following the approval of the comptroller of the currency security pacific announced its intention to merge with diablo bank headquartered in danville calif in september as part of its plan to expand its retail network in northern california diablo has a bank offices in danville san ramon and alamo calif security pacific also said reuter
|
12earn
|
u s intec inc intk th qtr net shr six cts vs five cts net vs revs mln vs mln avg shrs vs mths shr cts vs dlrs net vs revs mln vs mln avg shrs vs note net for includes or cts per share for proceeds of a life insurance policy includes tax benefit for prior qtr of approximately of which relates to a lower effective tax rate based on operating results for the year as a whole reuter
|
12earn
|
int l hydron corp hyd th qtr oper net oper shr profit six cts vs loss cts oper net profit vs loss revs mln vs mln year oper shr profit cts vs profit three cts oper net profit vs profit revs mln vs mln note excludes loss of dlrs or nil vs gain dlrs or nil in qtr and gain dlrs or two cts vs gain dlrs or one ct in year from net operating loss carryforwards reuter
|
0acq
|
albertson s abs adopts stockholder rights plan albertson s inc said its board has adopted a stockholder rights plan intended to protect them in the event of any proposed takeover of the company under the plan stockholders will receive a dividend distribution of one right for each share of common stock held on march the rights are exercisable ten days after a person or group acquires pct or more of alberston s common stock or announces a tender offer for pct or more of the stock each right will entitle the shareholder to buy one newly issued share of alberston s common stock for dlrs reuter
|
0acq
|
rospatch rpch rejects diagnostic drs bid rospatch corp said it rejected a proposal by diagnostic retrieval systems inc to acquire its stock at dlrs a share rospatch s board believes that the long term interests of its shareholders will be best served by continuing as an independent public company at this time the company said in response to an unsolicited offer from diagnostic retrieval rospatch said diagnostic s offer of february is a variation of a previous offer in january the nature of which was not disclosed rospatch said it advised diagnostic retrieval that it would be contrary to the best interests of the corporation to engage in any discussions concerning a business combination with diagnostic retrieval reuter
|
12earn
|
syntech interenational inc syne th qtr net shr profit six cts vs loss dlrs net profit vs loss revs vs year shr profit cts vs loss dlrs net profit vs loss revs mln vs mln reuter
|
0acq
|
int l minerals igl buys animal products unit international minerals and chemical corp said it completed its acquisition of johnson and johnson co s pitman moore unit a producer of animal health products terms of the acquisition were not disclosed international minerals and chemical said annual sales of the unit are about mln dlrs pitman moore makes health products for pets and for farm and feedstock animals reuter
|
0acq
|
jwt jwt not approached by group seeking shares jwt group inc has not been approached by former ted bates worldwide chairman robert jacoby about the possibility of a syndicate buying a pct stake in jwt group on a friendly basis a company spokesman said he said jwt would have no comment on an advertising age report that jacoby is considering heading up a venture capital syndicate to purchase a pct stake in jwt group jacoby was not immediately available for comment on the report ted bates is now owned by saatchi and saatchi the world s largest advertising agency reuter
|
12earn
|
coeur d alene mines corp cour th qtr loss shr loss cts vs loss one ct net loss vs loss revs vs year shr loss cts vs loss ten cts net loss vs loss revs mln vs note loss included one time loss of dlrs on write off of certain silver oil and gas interests reuter
|
0acq
|
foote mineral fte sells cambridge plant foote mineral co said it signed a letter of intent with shieldalloy corp a wholly owned subsidiary of metallurg inc for the sale of its cambridge ohio business the company said the sale which will be explained in greater detail after the definitive agreement has been signed is part of foote s previously announced plan to sell the entire company reuter
|
12earn
|
gelco gel sees flat pretax operating net gelco corp said that excluding the effects of a restructuring plan it expects pre tax operating earnings for the year to end july to be about the same as those of last year for the year ended july gelco reported pre tax operating earnings of mln dlrs or dlrs a share however final results will be affected by certain charges including legal and investment advisors fees preferred stock dividends and other costs of restructuring it said expenses associated with restructuring are expected to be offset by significant gains from the sale of some of gelco s business units it said the final outcome for the fiscal year will be determined by the timing and proceeds from the sale it added reuter
|
0acq
|
utilicorp ucu acquires dominion d subsidiary utilicorp united inc said it has closed the previously announced acquisition of west virginia power from dominion resources inc for about mln dlrs reuter
|
0acq
|
pesch sees shareholder support in ami ami bid chicago physician leroy pesch said he has had discussions with several american medical international inc shareholders and sees support for a restructuring of the company pesch said he has discussed his sweetened billion dlr takeover bid for american medical with several large shareholders including the biggest investor the bass family of texas however the bass family has not indicated support one way or the other for his offer he said pesch in an interview with reuters said based on the conversations he held with shareholders he could not guage whether he had majority support he said however there is support for his offer pesch would not identify shareholders with whom he held discussions other than the bass family and the wedge group inc the only other holder of more than five pct of american medical stock earlier today wedge group which has a pct stake said it held discussions with pesch american medical management and other american medical shareholders wedge in a filing with the securities and exchange commission said it believes a restructuring of american medical and its business would be highly desirable and appropriate at this time that s the sort of position that i find a large segment of shareholders of ami really share said pesch pesch said he held discussions with wedge about joining his takeover effort in which he is offering dlrs cash four dlrs in preferred stock and one dlr in common stock for each american medical share wedge said it has no plans to join in an effort to seek control of american medical but it would not rule out a future takeover try pesch said he did not discuss a joint takeover proposal with the bass family some analysts saw the wedge statement as a boost to pesch s takeover effort and a further sign that there could be some shareholder dissatisfaction following american medical s previous rejection of a dlr per share all cash offer from pesch american medical is expected to resist pesch s latest bid larry feinberg an analyst with dean witter reynolds inc said a management led leveraged buyout cannot be ruled out an american medical spokesman said the company will comment on the new pesch offer by march analysts continue to view the bass family as a factor in the outcome of the bid for control of american medical the bass family holds an pct stake in american medical and the company has previously said the investors support management s internal plan to improve the company s performance the bass family would not comment on american medical or pesch pesch who led the leveraged buyout of republic health corp last year continues to face a credibilty problem on wall street because of the long time it took to finish the republic acquisition republic also has substantial debt and has left wall street questioning whether financing can be completed for the much larger american medical takeover proposal pesch s first offer for american medical was made without an investment banking firm another cause for concern to wall street however pesch entered his second offer with representation from donaldson lufkin and jenrette securities and security pacific merchant banking group i don t have any doubt that the current transaction can be worked out and completed provided we get to the point where ami management will sit down and talk in a friendly environment pesch said pesch would not elaborate on what type of financing arrangements are being made he did say if he succeeds in acquiring american medical he plans to keep much of american medical management in place he said he plans to combine the company with republic to form an efficient network of hospitals analysts said they do not believe a much higher offer could be made for american medical byron nimocks of e f hutton group said improved second fiscal quarter earnings could make american medical stock worth about dlrs per share nimocks estimates american medical earnings for the second quarter ended february could be cts compared to a ct loss last year nimocks said pesch s revised offer is not worth much more than the dlrs cash offered previously but feinberg said there is a better chance a transaction could be completed because of the revised structure of the offer i think it s much more doable he said analysts have said american medical has begun a turnaround by replacing some members of management and reducing costs reuter
|
5coffee
|
senior delegates pessimistic on ico talks efforts to break an impasse between coffee exporting and importing countries over regulating the world coffee market in the face of falling prices appear to have failed senior delegates said after a contact group meeting the full ico council is due to meet this evening president of the brazilian coffee institute ibc jorio dauster told reuters after the contact group meeting there had been no agreement on quotas as consumers had tried to dictate market shares rather than negotiate them dauster said there are no plans yet to renew negotiations at a later date reuter
|
12earn
|
glamis gold ltd glgvf six mths dec net shr cts vs cts net vs revs vs reuter
|
0acq
|
u s approves buyout of coastal bancorp csbk coastal bancorp said the u s federal reserve board approved the acquisition of coastal by suffield financial corp ssbk the acquisition still requires approval from the banking department in maine the company noted reuter
|
12earn
|
little prince productions ltd ltlp st qtr loss qtr ended dec shr profit nil vs loss nil net profit vs loss revs vs reuter
|
0acq
|
amca ail to sell some dominion bridge assets amca international ltd said it finalized agreement to sell certain assets and inventories of its dominion bridge steel service center operations to federal industries ltd s russelsteel inc unit terms were undisclosed it said the sale involved assets and operations of the general line of steel service centers in toronto and edmonton alberta and steel from inventories of closed amca branches the company said the sale was part of a previously announced restructuring program to allow it to focus on certain core businesses and generate cash to cut debt reuter
|
0acq
|
scott s hospitality acquires capital food scott s hospitality inc said it acquired capital food services ltd ottawa s largest catering and food service company for undisclosed terms scott s said it would operate capital food as a separate unit under capital s current name and management reuter
|
0acq
|
union national unbc signs definitive pact union national corp said it signed a definitive agreement under which its first national bank and trust co of washington unit will merge with second national bank of masontown under a previously announced merger agreement each share of second national s common stock will be converted into shares of union national common reuter
|
0acq
|
analysts see no other bidder for purolator pcc several analysts said they do not believe another suitor will top the mln dlr bid for purolator courier corp by e f hutton lbo inc and a management group from purolator s courier division there had been speculation another offer might be forthcoming but analysts mostly believe the dlrs per share price being paid by hutton and the managers pc acquisition inc is fully valued analysts and some wall street sources said they doubted another bidder would emerge since purolator had been for sale for sometime before a deal was struck with hutton friday purolator s stock slipped today to close at it had been trading slightly higher than the dlr offer on friday at least one analyst friday speculated the company might fetch to dlrs per share analysts and wall street sources doubted a competitive offer would emerge since the company has been for sale for sometime before the deal with hutton was struck friday hutton had been in talks with purolator s adviser dillon read and co since late december a hutton spokesman said hutton is offering dlrs cash per share for pct of the shares if all shares are tendered shareholders would receive dlrs cash six dlrs in debentures and warrants for stock in a subsidiary of pc acquisition containing the purolator u s courier operation hutton values the warrants at two to three dlrs per share wall street sources also said today that a rival bidder might be discouraged by a breakup fee purolator would have to pay if it ends its agreement with hutton the sources would not reveal the amount of the fee which will be noted in documents on the transaction to be made public later this week reuter
|
12earn
|
whitehall corp wht th qtr net shr cts vs cts net vs revs vs year shr cts vs dlrs net vs revs mln vs mln reuter
|
12earn
|
service corp international srv rd qtr net qtr ended jan shr cts vs cts net mln vs mln revs mln vs mln avg shrs mln vs mln nine mths shr cts vs cts net mln vs mln revs mln vs mln avg shrs mln vs mln note net for nine mths includes gains from dispositions of dlrs or four cts a share vs dlrs or two cts a share avg shrs and shr data restated to reflect three for two stock split in january reuter
|
12earn
|
peoples bancorporation peop quarterly dividend qtly div cts vs cts pay april record march reuter
|
12earn
|
cpl reit cntrs th qtr net shr cts net revs year shr cts net revs note full name cpl real estate investment trust company was formed dec reuter
|
12earn
|
republic automotive parts raut th qtr loss shr loss cts vs loss cts net loss vs loss revs mln vs mln year shr loss dlrs vs loss cts net loss vs loss revs mln vs mln reuter
|
12earn
|
realmerica co raco year nov net shr profit four cts vs loss cts net profit vs loss note net includes tax credit of dlrs or one ct per share reuter
|
12earn
|
s k i ltd skii nd qtr jan net shr cts vs cts net vs revs mln vs mln six mths shr cts vs cts net vs revs mln vs mln reuter
|
0acq
|
ferro corp foe sets joint venture ferro corp said it has formed a joint venture with paris based alsthom inudstrial group to export u s epxertise in specialty composite materials to the european market ferro said although the airframe and aerospace industries are the prime users of composite materials today it plans to develop applications for the ground transportation and industrial markets in the near future ferro also announced it has agreed to purchase compositair a developer of composit materials applications for an undisclosed sum reuter
|
10crude
|
nymex rule change seen boosting energy trade the new york mercantile exchange said it will introduce exchanges for physicals efps to its energy futures markets april one an exchange spokeswoman said the change will allow oil traders that do not hold a futures position to initiate after the exchange closes a transaction that can subsequently be hedged in the futures market efps already in effect for platinum futures on nymex are expected to increase the open interest and liquidity in u s energy futures according to traders and analysts the commodity futures trading commission approved the rule change in february according to a cftc spokeswoman reuter
|
6copper
|
u s refinery copper stocks fall in january refined copper stocks held by u s refineries fell to short tons at the end of january from short tons at the end of december the american bureau of metal statistics reported commodity exchange comex copper stocks climbed to tons in january from tons in december combined refinery and comex stocks eased to tons in january from tons in december u s refined production declined to tons in january from tons in december crude output increased to tons in january from tons revised lower in december preliminary figures showed u s refined deliveries rose to tons in january from tons in december reuter
|
0acq
|
ccl unit acquires nestle canada can operations ccl industries inc s continental can canada inc unit said it acquired the wallaceburg ontario metal can making operations of nestle enterprises ltd wholly owned by nestle sa of switzerland terms were undisclosed continental can said it would supply nestle s equivalent can requirements under a long term agreement nestle said it decided to stop manufacturing cans in order to be in a better position to take full advantage of the changes underway or on the horizon in food packaging technology reuter
|
6copper
|
copper stocks outside u s increase in december refined copper stocks held by refineries outside the u s increased to a preliminary short tons at the end of december from a preliminary short tons revised higher at the end of november the american bureau of metal statistics said london metal exchange stocks fell to tons in december from tons in november combined refinery and lme stocks rose to a preliminary tons from tons revised higher january lme stocks were tons preliminary figures showed refined production outside u s lower at tons in december versus tons in november crude output decreased to tons from tons revised higher refined copper deliveries decreased to tons from tons revised lower reuter
|
12earn
|
mfs managed muncipal bond trust sets payout mfs managed muncipal trust bond said it declared a monthly payout income distribution of cts a share compared with cts for the previous month it said the distribution is payable march to shareholders of record march two reuter
|
6copper
|
u s brass mill copper stocks lower in january u s brass mill copper stocks fell to short tons copper content at the end of january from short tons at the end of december according to the american bureau of metal statistics consumption by brass mills increased to short tons in january from short tons in december mills consumed tons of refinery shapes in january versus tons in december scrap consumption increased to tons in january from tons in december total brass mill shipments increased to tons in january from tons in december while receipts rose to tons from tons reuter
|
12earn
|
mfs municipal income trust mfm sets payout mfs municipal income trust said it declared a monthly income distribution of cts a share compared with cts a share paid in the previous month it said the distribution is payable march to shareholders of record march reuter
|
12earn
|
pittway corp pry th qtr net shr dlrs vs two dlrs net vs sales mln vs mln year shr dlrs vs dlrs net vs sales mln vs mln reuter
|
0acq
|
armtek arm to sell industrial tire unit armtek corp previously the armstrong rubber co said it agreed to sell its industrial tire and assembly division to a dyneer corp dyr for an undisclosed sum it said the agreement covers the division s tire production facility in clinton tenn and its plants serving original equipment and replacement markets armstrong tire co an armtek unit will continue to sell replacement industrial tires the company said final closing is expected in the third fiscal quarter ending june reuter
|
12earn
|
petrolite corp plit sets payout qtly dividend cts vs cts pay april record april reuter
|
33money-supply
|
australian annual broad money supply growth pct in january
|
18heat
|
exxon xon cuts heating oil barge price oil traders in new york said exxon corp s exxon u s a unit reduced the price it charges contract barge customers for heating oil in new york harbor cent a gallon effective today they said the reduction brings exxon s contract barge price to cts the price decrease follows sharp declines in heating oil prices on spot and futures markets traders said reuter
|
10crude
|
greece says it has right on aegean oil drilling greece responding to a warning by turkey against conducting oil activities in the aegean sea said today it had the right to decide where and how to do research or drilling work in the area a government spokesman said the greek position was made clear to turkey s ambassador nazmi akiman when he met greek foreign affairs undersecretary yannis kapsis last week acting turkish prime minister kaya erdem said earlier today greek activities in the northern aegean contravened the berne agreement which set the framework for talks on the aegean continental shelf disputed between ankara and athens the greek statement today said greece is not prepared to give up even a trace of its sovereignty rights to the seabed it has been stressed to mr akiman that the decision where or how to drill belongs exclusively to the greek government the greek government has repeatedly let the turkish side know that it considers the berne protocol as inactive through the fault of turkey it said the greek statement said athens was ready to put the continental shelf issue before international courts reuter
|
0acq
|
leucadia luk has pct of minstar mnst leucadia national corp said two of its subsidiaries have acquired a pct stake in minstar inc a corporation controlled by corporate raider irwin jacobs and used by him in his forays to acquire stock in companies in a filing with the securities and exchange commission leucadia said its lnc investments inc a newark del investment firm and charter national life insurance co a st louis joint stock life insurance company bought their combined minstar common shares for investment purposes only the leucadia subsidiaries had held an pct stake in minstar but cut to pct or shares last july since july leucadia said its companies have bought minstar common shares for a total of mln dlrs leucadia said it bought the minstar stake to obtain an equity position in the company and has no intention of seeking control of it nearly half of leucadia s common stock is owned by tlc associates a salt lake city utah general partnership whose partners include the chairman and president of leucadia and other investors reuter
|
12earn
|
basix corp bas th qtr loss oper shr loss eight cts vs profit cts oper net loss vs profit revs mln vs mln mths oper shr loss dlrs vs profit cts oper net loss mln vs profit revs mln vs mln note oper excludes loss from discontinued operations of dlrs or cts a share for year ago qtr and dlrs or cts a share for year ago mths oper includes charge of mln dlrs for cumulative effect of repeal of the investment tax credit for qtr and writedown of mln dlrs on gas and oil facilities for mths year ago shr data restated to reflect two pct stock dividend of december reuter
|
33money-supply
|
australian january annual broad money up pct australia s broad money supply rose pct in the year ended january up from a revised pct in december the reserve bank said this compares with the previous january s pct in january broad money growth slowed to pct from december s pct and compared with nil growth in january within the broad money total non bank financial intermediaries rose by pct from a revised decline of in december and a previous january s pct increase in the january year nbfi s borrowings rose by pct from a revised in december and compared with a previous january s at the end of january broad money stood at mln dlrs dlrs from december s mln dlrs and a january level of mln in the same period borrowings from the private sector by the nbfis rose to mln dlrs from december s mln and the previous january s mln reuter
|
0acq
|
microbio mrc plans acquisition financing microbiological research corp said it entered into a letter of intent for a proposed business combination with privately owned datagene scientific laboratories inc and milex corp a newly formed company through a stock swap it also said it received dlrs from the sale of a convertible note to ventana growth fund as part of an overall equity financing plan with ventana under that plan a minimum of dlrs and a maximum of one mln dlrs of additional new capital is to be provided to fund the combined operations of the three companies microbiological also said that if the maximum additional capital is raised it will own about pct of shares of common outstanding in the new combined company datagene holders will own pct and ventana and others will own pct it said the remaining nine pct will be held by milex shareholder norman monson who will become chief executive officer of the combined companies reuter
|
5coffee
|
ico council ends in failure to agree quotas a special meeting of the international coffee organization ico council failed to agree on how to set coffee export quotas ico delegates said producers and consumers could not find common ground on the issue of quota distribution in eight days of arduous often heated talks delegates said export quotas the major device of the international coffee agreement to stabilise prices were suspended a year ago after coffee prices soared in reaction to a drought in brazil which cut its output by two thirds delegates and industry representatives predicted coffee prices could plummet more than stg a tonne to new four year lows tomorrow in response to the results of the meeting reuter
|
0acq
|
painewebber pwj unit ups shaer shoe shs stake mitchell hutchins asset management inc a new york investment firm and subsidiary of painewebber group inc said it raised its voting stake in shaer shoe corp to shares or pct from shares or pct in a filing with the securities and exchange commission mitchell hutchins said it bought shares between jan and feb at prices ranging from to dlrs a share and obtained voting control over another shares the firm has said it bought the stake as an investment on behalf of its clients but said it has had discussions with shaer management it did not disclose the topic of the talks reuter
|
12earn
|
telecredit inc tcrd rd qtr jan net shr cts vs cts net vs revs mln vs mln nine mths shr cts vs cts net vs revs mln vs mln reuter
|
12earn
|
laser precision corp lasr th qtr net shr profit cts vs profit two cts net profit vs profit revs vs year shr profit cts vs loss cts net profit vs loss revs mln vs reuter
|
0acq
|
rexnord rex to redeem rights rexnord inc said it will redeem all of its preferred stock purchase rights for cts a right effective today rexnord said the rights will be redeemed because it is expected its shares will be tendered under a january takeover offer from banner acquisition corp the rights trade in tandem with rexnord s common stock reuter
|
0acq
|
cantrex unit to merge with ontario group groupe cantrex inc said it plans to merge a new wholly owned subsidiary a merger agreement with cap appliance purchasers inc of woodstock ontario a group of about appliance and electronics retailers it said cap shareholders will receive first preferred groupe cantrex shares entitling the holders to receive dlrs per share or the equivilant in class a subordinate voting cantrex shares the merger is effective april one and is subject to shareholder approval reuter
|
0acq
|
investment firm boosts ldbrinkman dbc stake two affiliated investment firms and the investment funds they control said they raised their combined stake in ldbrinkman corp to shares or pct of the total outstanding from shares or pct in a filing with the securities and exchange commission fidelity international ltd a bermuda based firm said its funds bought ldbrinkman common shares between jan and feb at prices ranging from to dlrs a share funds controlled by fmr corp a boston based investment firm affiliated with fidelity hold shares bringing the combined total to shares fidelity said reuter
|
12earn
|
itt s itt hartford unit posts th qtr gain hartford insurance group a unit of new york based itt corp said higher worldwide premiums help boost net income for the fourth quarter to mln dlrs from net income of mln dlrs for the quarter for the full year hartford said it earned mln dlrs up from mln dlrs in hartford said results for the year were aided by a gain of mln dlrs on the sale of its remaining pct stake in abbey life group plc for the company posted a gain of mln dlrs on the sale of pct of abbey life hartford said total property casualty and life health written premiums rose pct in to eight billion dlrs from billion dlrs in reuter
|
0acq
|
sec probes tre tre takeover attempt the federal securities and exchange commission sec is looking for possible securities laws violations in connection with an unsuccessful bid by hollywood producer burt sugarman to take over tre corp attorneys contacted by sec investigators said during the takeeover attempt a unit of sugarman s giant group ltd at one point held a pct stake in tre it had help in that effort from jefferies group inc a los angeles investment banking firm which sold it an option on a portion of the shares sugarman eventually acquired in addition a company controlled by sugarman raised mln dlrs in a debt offering underwritten by drexel burnham lambert inc with help from jefferies and used a portion of the proceeds to buy tre stock finally reliance group holdings inc acquired nearly six pct of tre according to an seec filing the attorneys who asked not to be identified said the sec was investigating whether sugarman and other firms with tre holdings were working together without disclosing their cooperation as would be required by the federal securities laws one attorney said sec probers also were examining whether sugarman and drexel had made adequate disclosures of its intended usage of the proceeds in the prospectus for the mln dlr bond offering a tre spokesman confirmed that tre since december a unit of aluminum co of america had been contacted by sec investigators and was cooperating with the probe the spokesman added that tre chairman leopold wyler had been interviewed by the sec probers a jefferies spokesman said the sec had asked for information a few months ago as part of an informal probe the spokesman said jefferies had cooperated with the agency and had heard nothing more since that time to the best of our knowledge jefferies is not the target of a formal sec investigation in connection with the tre bid he said a drexel spokesman acknowledged that his firm had underwritten the debt offering for sugarman but added we had nothing to do with tre as a matter of policy the sec routinely declines to comment on its enforcement activities reuter
|
43ship
|
canadian seafarers threaten strike canadian seafarers are almost certain to go on strike this spring in a refusal to meet rollbacks in wages and benefits asked for by their employers seafarers international union official roman gralewicz said it s percent i guarantee you a strike gralewicz said in an interview the union represents about workers on the great lakes and canada s east and west coasts contract talks broke off in january and a conciliator has been appointed to try to help settle the dispute the current contract expires at the end of march the seafarers employers are also asking for a reduction in crew levels a move which the union said would cost about jobs reuter
|
12earn
|
dallas corp dls th qtr loss oper shr loss cts vs profit cts oper net loss vs pofit revs mln vs mln mths oper shr profit cts vs profit cts oper net profit vs profit revs mln vs mln note oper net excludes loss from discontinued operations of dlrs or cts a share for year ago qtr and dlrs or dlrs a share for year ago mths reuter
|
12earn
|
dillard department stores inc dds th qtr net qtr ended jan shr dlrs vs dlrs net mln vs mln revs mln vs mln avg shrs mln vs mln mths shr dlrs vs dlrs net mln vs mln revs billion vs billion avg shrs mln vs mln note shr avg shrs data show for split in nov reuter
|
12earn
|
kentucky central life kenca sets payout kentucky central life insurance co said it declared a semi annual dividend of cts per share payable march to shareholders or record march the dividend is equal to the company s previous semi annual payout reuter
|
12earn
|
bank of new england corp bkne qtly dividend qtly div cts vs cts prior pay april record march reuter
|
26jobs
|
japan unemploymnent rises to record in january japan s seasonally adjusted unemployment rate rose to a record pct in january the worst since the government started compiling unemployment statistics under its current system in up from the previous record pct in december the government s management and coordination agency said unemployment was up from pct a year earlier unadjusted january unemployment totalled mln people up from mln in december and mln a year earlier male unemployment in january remained at pct equal to the second worst level set last december record male unemployement of pct was set in july female unemployment in january remained at pct equal to the record level marked in april august september and december last year january s record pct unemployment rate mainly stemmed from loss of jobs in manufacturing industries particularly in export related firms due to the yen s continuing appreciation against the dollar officials said employment in manufacturing industries fell from a year earlier to mln including mln employed in the textile industry down from a year earlier and mln in transport industries such as carmakers and shipbuilders down reuter
|
12earn
|
ford f europe earnings up pct last year ford europe s net earnings soared by per cent last year to mln dlrs kenneth whipple chairman of ford europe said whipple here to attend the geneva auto show which opens on thursday said that the ford motor co unit had sold a record million vehicles in europe in net earnings were mln dlrs in sales in represented per cent of the european market share whipple said ford will invest billion dollars in europe in and a total of seven billion over the next seven years he added reuter
|
28lei
|
south korea s leading indicators fall in december south korea s index of leading indicators fell pct to base in december after a pct rise in november representing a pct year on year gain from december economic planning board provisional figures show the index is based on indicators which include export values letters of credit received warehouse stocks m and m money supply figures and the composite stock exchange index reuter
|
10crude
|
opec within output ceiling subroto says opec remains within its agreed output ceiling of mln barrels a day and had expected current fluctuations in the spot market of one or two dlrs indonesian energy minister subroto said he told reporters after meeting with president suharto that present weakness in the spot oil market was the result of warmer weather in the u s and europe which reduced demand for oil prices had also been forced down because refineries were using up old stock he said he denied that opec was exceeding its agreed production ceiling asked what opec s output level was now he replied below mln barrels per day he did not elaborate he said there appeared to have been some attempts to manipulate the market but if all opec members stick by the cartel s december pricing agreement it would get through present price difficulties he predicted that prices would recover again in the third and fourth quarters of he also reiterated that there was no need for an emergency opec meeting he said opec had expected to see some fluctuations in the spot price we hope the weak price will be overcome and predict the price will be better in the third and fourth quarters refiners he said appeared to have used up old stock deliberately to cause slack demand in the market and the price to fall but opec would get through this period if members stuck together reuter
|
5coffee
|
coffee traders expect selloff after ico talks fail the failure of the international coffee organization ico to reach agreement on coffee export quotas could trigger a massive selloff in london coffee futures of at least stg per tonne today coffee trade sources said prices could easily drop to as low as dlr or even cents a lb this year from around dlrs now they said a special meeting between importing and exporting countries ended in a deadlock late yesterday after eight days of talks over how to set the quotas no further meeting to discuss quotas was set delegates said quotas the major device used to stabilize prices under the international coffee agreement were suspended a year ago after prices soared following a damaging drought in brazil with no propects for quotas in sight heavy producer selling initially and a price war among commercial coffee roasting companies will ensue the trade sources predicted lower prices are sure to trickle down to the supermarket shelf this spring coffee dealers said the u s and brazil the largest coffee importer and exporter respectively each laid the blame on the other for the breakdown of the talks jon rosenbaum u s assistant trade representative and delegate to the talks said in a statement after the council adjourned a majority of producers led by brazil were not prepared to negotiate a new distribution based on objective criteria we want to insure that countries receive export quotas based on their ability to supply the market instead of their political influence in the ico brazilian coffee institute ibc president jorio dauster countered negotiations failed because consumers tried to dictate quotas not negotiate them previously quotas were determined by historical amounts exported which gave brazil a pct share of a global market of about mln kilo bags a majority of producers wanted quotas to continue under this basic scheme but most consumers and a maverick group of eight producers proposed carving up the export market on the basis of exportable production and stocks which would reduce brazil s share to pct consumer delegates said this method would reflect changes in many countries export capabilities and make coffee more readily available to consumers when they need it a last minute attempt by colombia the second largest exporter to rescue the talks with a compromise interim proposal could not bring the two sides together delegates speculated brazil s financial problems illustrated by its recent suspension of interest payments on bank debt have increased political pressure on the country to protect its coffee export earnings developing coffee producing countries that depend heavily on coffee earnings particularly some african nations and colombia are likely to be hurt the most by the ico s failure to agree quotas analysts said the expected drop in prices could result in losses of as much as three billion dlrs in a year producer delegates forecast the ico executive board will meet march but the full council is not due to meet again until september delegates said reuter
|
12earn
|
cra ltd net profit mln dlrs vs mln
|
2bop
|
n z quarterly current account deficit narrows new zealand s current account deficit for the quarter ended december narrowed to mln dlrs from mln revised down from mln for the september quarter and from mln a year earlier the statistics department said the deficit for the year ended december narrowed to billion dlrs from billion dlrs revised down from billion for the year ended september the deficit for calendar was billion the december quarter showed a mln dlr surplus for merchandise trade unchanged from the september quarter surplus which was revised down from mln dlrs the december quarter showed a mln dlr deficit imports for the december quarter were billion against billion in the september quarter and a year earlier exports were billion against billion and billion imports for the year ended december were billion dlrs compared with billion in exports were billion against billion government borrowing stood at billion dlrs for calendar against billion for borrowing in the december quarter rose to billion from in the september quarter and mln a year earlier repayments stood at billion for the year up from billion in repayments in the december quarter accounted for billion dlrs against mln in the september quarter and mln a year earlier official reserves totalled billion dlrs at end december compared with billion at end september and billion one year earlier reuter
|
0acq
|
transamerica sells occidental life australia equity investment company battery group ltd said it had agreed to buy occidental life insurance co of australia ltd from transamerica corp ta of the u s for mln australian dlrs the acquisition has been made possible by the efforts of its major shareholder pratt and co financial services pty ltd battery group said in a statement the purchase will be partly funded by the issue of eight mln shares at dlrs each and four mln free options to the pratt group controlled by entrepreneur dick pratt plus four mln shares to professional investors at each it said the balance will be funded by debt battery group said the acquisition is subject to the approval of its shareholders on completion of the share placements pratt group will effectively have pct of battery s enlarged capital assuming exercise of all options it said battery now has mln shares on issue battery said occidental life is a major underwriter of individual term life insurance and a recent but fast growing entrant in the individual account superannuation market it has some mln dlrs in funds under management reuter
|
12earn
|
cra ltd craa s net net mln dlrs vs mln shr cents vs final div to announced after july vs final cents making sales revenue billion vs billion investment income mln vs mln shrs mln vs mln note net is after tax mln dlrs vs mln interest mln vs mln depreciation mln vs mln but before net extraordinary loss mln vs profit mln reuter
|
42rubber
|
malaysia re imposes export duties on rubber the malaysian government said it has re imposed export duties on rubber at cent per kilo after the gazetted price moved above the threshold price of cents per kilo the gazetted price effective march rose to cents per kilo from february s the duty for research remains at cents per kilo and the replanting duty is also unchanged at cents reuter
|
12earn
|
comalco ltd net profit mln dlrs vs loss mln
|
12earn
|
comalco ltd cmac s net net profit mln dlrs vs loss mln net is equity accounted pre equity accounted net mln dlrs vs loss mln pre equity shr profit cents vs loss final div to be announced after july vs first and final cent sales billion vs billion other income mln vs mln shrs mln vs same note net is after tax paid mln dlrs vs credit mln interest mln vs mln depreciation mln vs mln and minorities mln vs loss but net is before net extraordinary loss mln vs nil extraordinaries comprise exchange losses mln provision for goldendale smelter closure costs mln and increase in future tax provision mln reuter
|
26jobs
|
japan s unemployment rate seen rising to pct japan s unemployment rate is expected to continue to climb to about pct within the next year from january s three pct record senior economists including susumu taketomi of industrial bank of japan said december s pct was the previous worst level since the government s management and coordination agency began compiling statistics under its current system in there is a general fear that we will become a country with high unemployment said takashi kiuchi senior economist for the long term credit bank of japan ltd the government which published the january unemployment figures today did not make any predictions at present we do not have a forecast for the unemployment rate this year but it is difficult to foresee the situation improving a labour ministry official said finance minister kiichi miyazawa said the government had expected the increase and had set aside money to help people find jobs in fiscal beginning in april prime minister yasuhiro nakasone told a press conference the record rate underlines the need to pass the budget which has been held up by opposition to proposed tax reforms the yen s surge has caused layoffs in the mainstay steel and shipbuilding industries other export dependent industries such as cars and textiles have laid off part time employees and ceased hiring economists said although the growing service industry sector has absorbed a great number of workers the trend is starting to slow down said koichi tsukihara deputy general manager of sumitomo bank ltd s economics department however other economists disagreed saying the service sector would be able to hire workers no longer needed by the manufacturing sector over the next five years the economists said the service sector should grow as the government stimulates domestic demand under its program to transform the economy away from exports although japanese unemployment rates appear lower than those of other industrialised nations methods for calculating statistics make them difficult to compare economists warned the three pct figure could translate into a relatively high figure if european methods were used one economist said more than half of january s increase in jobless from a year earlier were those aged between and sumitomo s tsukihara said reuter
|
2bop
|
south korean trade surplus narrows in february south korea s customs cleared trade surplus narrowed to mln dlrs in february from mln in january provisional trade ministry figures show in february there was a deficit of mln dlrs february exports rose to billion dlrs fob from billion in january and billion in february cif imports were billion against billion in january and billion in february last year reuter
|
48trade
|
japan moves to tighten chip export curbs the ministry of international trade and industry miti acted to tighten restrictions on microchip exports to countries other than the u s to preserve a u s japan pact on semiconductor trade but major japanese chipmakers doubt its usefulness a miti spokesman said his ministry had asked chipmakers to issue certificates to specified trading houses stating they are authorised exporters trading houses applying for a miti export licence will be required to show such a certificate but those without it will not automatically be denied licences he said but some industry officials predicted any government measures were likely to have limited effect as long as the world semiconductor market remained weak u s government and industry officials have complained repeatedly that japanese chipmakers continue to sell at below cost to third countries despite the july agreement japanese firms and officials in turn argue the flow of cheap chips to third countries is due to grey market sales by third party brokers who seek to profit from the gap between low prices in japan and higher prices based on production costs and set for japanese makers under the agreement the miti spokesman said if the percentage of grey market is increasing for one specific company it suggests they are distributing their products through their sales network knowing they will be exported by some means in that case we will ask them what they are doing to reduce the figure miti earlier asked makers to cut output of certain chips by pct in first quarter spokesmen for the firms said but they doubt the usefulness of the latest move as long as there is a gap between prices set under the pact and market prices there will be people who want to exploit the gap to make money a hitachi ltd hit t spokesman said reuter
|
26jobs
|
finnish unemployment at pct in december finnish unemployment was pct in december last year compared with pct in november and pct in december the central statistical office said it said people were unemployed in december in november and in december reuter
|
40reserves
|
bankers see sharp rise in thai foreign reserves thailand s improving economy will likely cause foreign reserves to increase to at least five billion dlrs by end from a record of nearly billion at end february private bankers said bank of thailand statistics show foreign reserves rose to billion at end january from billion a year earlier nimit nonthapanthawat chief economist at the bangkok bank ltd said thailand s strong export performance its relatively high interest rates foreign participation in its stock market and growing foreign investment especially from japan contributed to the projected sharp rise thai exports rose pct in and are expected to expand another pct this year bankers said a u s embassy report said last month thailand could achieve five pct real gross domestic product growth in up from a projection of pct for and pct in nonthapanthawat said if economic growth continues at its current pace and oil prices and major currencies remain stable the five billion reserves target can easily be reached thailand calculates foreign reserves to include gold special drawing rights and convertible currencies the target is equivalent to five and a half months worth of imports reuter
|
2bop
|
sweden has current payments surplus in sweden had a current balance of payments surplus of billion crowns compared with a deficit of billion the preceding year according to preliminary figures from the central bank the december current account had a mln crowns deficit against a yearago mln deficit december trade balance was billion surplus against yearago two billion the trade balance showed a surplus of billion crowns compared with a billion surplus in the bank said reuter
|
12earn
|
fisons plc fisn l year to end shr p vs p div p vs p making p vs p pre tax profit mln stg vs mln turnover mln vs mln tax mln vs mln finance charges mln vs mln minority interest mln vs mln extraordinary debit being closure and restructuring costs mln vs mln operating profit includes pharmaceutical mln vs mln scientific equipment mln vs mln horticulture mln vs mln note company said it plans one for one capitalisation reuter
|
22interest
|
major swiss banks raise customer time deposit rates point to three pct credit suisse
|
22interest
|
corrected major swiss banks raise customer time deposit rates point to pct credit suisse
|
32money-fx
|
philippine planning chief urges peso devaluation the philippines must devalue the peso if it wants its exports to remain competitive economic planning secretary solita monsod told reuters the peso dollar rate has to be undercut to make our exports more competitive monsod said an interview no question about it i m saying you cannot argue with success taiwan south korea west germany japan all those miracle economies deliberately undervalued their currencies the peso has been free floating since june it is currently at about to the u s dollar finance secretary jaime ongpin has said the government does not intend to devalue the peso and wants it to be flexible and able to continue to respond to market conditions monsod said ongpin was looking at the exchange rate from the point of view of finance if the dollar rate goes higher our debt service in terms of pesos gets higher so the financing is very difficult she said but i am looking at it in terms of the economy she said she was not trying to oppose official policy i m just saying keep it competitive i do not want it to become uncompetitive because then we are dead monsod said the ideal movement in the peso dollar rate is a movement that will reflect differences in inflation rates of the philippines versus the other country it s an arithmetic thing official figures show philippine inflation averaged pct in calendar ongpin told reporters on saturday it was expected to touch five pct this year he said the government and the international monetary fund had set the peso dollar target rate at the peso lost pct in value to slump to to the dollar when it was floated in reuter
|
0acq
|
u k clears cons gold u s purchase the u k trade department said it would not refer consolidated goldfields plc s cgld l purchase of american aggregates corp to the monopolies commission cons gold said last month that its arc america corp unit had agreed to buy the ohio based company for dlrs a share cash or mln dlrs in a deal recommended by the aggregates board reuter
|
47tin
|
zaire accepts tin export quota atpc says zaire agreed to limit its tin exports to tonnes for months from march in line with an association of tin producing countries atpc plan to curb exports the atpc said atpc executive director victor siaahan told reuters he received a telex from zaire indicating its willingess to take part in the plan to limit total atpc exports to tonnes for a year from march siaahan said zaire is expected to produce tonnes of tin in calendar and that in its output and exports were about tonnes the atpc hopes to cut the tonne world surplus by tonnes and boost prices all atpc members except zaire and australia recently agreed to adhere to the export quotas allocated them under the plan australia said its quota of tonnes was roughly equal to its expected output this year the atpc consists of malaysia indonesia thailand bolivia australia nigeria and zaire china and bolivia important producers of tin are not members reuter
|
10crude
|
pemex signs mln dlr japan loan for pipeline mexican state oil firm petroleos mexicanos pemex signed for a mln dlr untied loan from the export import bank of japan to finance its pacific petroleum project pemex japan representative tito ayal said no further details on the loan were immediately available ayala told an oil seminar the project due for completion in is aimed at improving distribution of oil products in the domestic market mainly along the pacific coast the project consists of a pipeline linking nueva teapa on the gulf of mexico with salina cruz on the pacific coast and construction of the second phase of the salina cruz refinery the project also includes construction of liquified petroleum gas lpg storage tanks at santa cruz additional crude oil storage at both ends of the pipeline an ammonia complex at lazaro cardenas on the pacific coast and expansion of the infrastructure of the port of salina cruz ayala said pemex will buy mln dlrs worth of foreign equipment and materials for the project he said the new pipeline will enable japan to load mexico s maya crude oil at salina cruz rather than in the gulf of mexico pemex will also have some lpg surplus available in salina cruz that may help japan diversify its supply sources of that product he added reuter
|
12earn
|
stc plc stcl l year to end shr profit p vs p loss div p making p vs nil turnover billion stg vs billion pretax profit mln vs mln loss tax mln vs nil operating profit mln vs mln interest less investment income mln vs mln exceptional debit mln vs mln minorities mln vs mln extraordinary credit mln vs mln debit operating profit includes international computers mln vs mln communications systems mln vs mln components and distribution mln vs mln defence mln vs mln reuter
|
12earn
|
cra expects to pay final dividend of cents cra ltd craa s said it expected to pay a final dividend of not less than cents a share after july making cents for the year against in the mining and smelting group earlier reported net earnings rose to mln dlrs from mln in against analysts forecasts yesterday of mln to mln cra said it was deferring consideration of a dividend until later this year to provide the benefit of dividend imputation to its shareholders after july dividends will be tax free to shareholders provided they come out of earnings on which the full pct company tax rate has been p id the company operates on a substituted tax year not the fiscal year ending june and as a result has incurred tax at the pct rate on earnings cra said in a statement consequently it has funds available for distribution with dividend imputed but is waiting to see the imputation legislation before determining the final payout it said despite the higher net earnings cra said was a poor year for the minerals industry with the notable exception of gold producers prices for major metals expressed in real u s dollars declined to the lowest levels in about years it said fluctuating exchange and interest rates added volatility and uncertainty while the revaluation of the yen is leading to substantial restructuring of japanese industry cra said world demand for metals is growing slowly inventories have steadily declined with supply and demand in better balance but overcapacity continues cra said turning to contributions to its earnings cra said bougainville copper ltd buva s contributed mln dlrs while its share of comalco ltd s cmac s net was mln net earnings from iron ore operations were mln dlrs against mln in it said lead zinc and silver mining and smelting operations incurred a net loss of mln dlrs against a mln loss in cra said coal activities resulted in a net profit of mln dlrs against mln while salt raised its contribution to mln from mln cra s share of earnings from the argyle diamond project amounted to mln dlrs against nine mln in cra said the main item in its mln dlr extraordinary loss was a mln writeoff of unrealised foreign exchange losses on borrowings as required by a new accounting standard other extraordinary items were mln dlrs provided for closures and writedown of assets and a mln increase in future tax provisions cra said cash flow continued at a high level being mln dlrs before capital expenditure against billion in the strong cash flow coupled with the proceeds of the rights issue and the use of existing cash balances enabled group debt to be reduced by nearly mln dlrs cra said it held forward contracts at year end to buy mln u s dlrs to hedge part of its foreign debt this cost mln dlrs after tax included in the net interest cost reuter
|
48trade
|
swiss capital exports rise in january swiss capital exports rose to billion francs in january after billion in december and a year earlier billion the swiss national bank said new bond issues accounted for billion of the total after december s billion and credits mln after mln in january before the national bank ended the distinction between notes and bonds bond issues totalled billion francs notes billion and credits mln reuter
|
48trade
|
china calls for better trade deal with u s china called on the united states to remove curbs on its exports to give it favourable trading status and ease restrictions on exports of high technology but the u s embassy replied that chinese figures showing years of trade deficits with the u s out of the last are inaccurate and said peking itself would have to persuade congress to change laws which limit its exports the official international business newspaper today published china s demands in a editorial to coincide with the visit of u s secretary of state george shultz it is extremely important that the u s market reduce its restrictions on chinese imports provide the needed facilities for them and businessmen from both sides help to expand chinese exports the editorial said the u s should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system of preference gsp despite easing of curbs on u s technology exports in recent years control of them is still extremely strict and influences normal trade between the two countries it added the paper also printed an article by china s commercial counsellor in its washington embassy chen shibiao who said that all kinds of difficulties and restrictions were preventing bilateral trade fulfilling its full potential he named them as u s protectionist behaviour curbs on technology transfer and out of date trade legislation the paper also printed a table showing that since bilateral trade began in china has had a deficit every year except and it shows the and deficits at billion and billion dlrs a u s embassy official said the u s did not accept peking s trade figures at all mainly because they exclude goods shipped to hong kong and then trans shipped to u s while u s figures are based on country of origin he said that if china wants to obtain gsp status it will have to lobby congress itself to persaude it to amend several laws which currently prevent peking getting such status the u s trade act of says that to qualify for gsp china must be a member of the general agreement of tariffs and trade gatt for which it applied in july and not be dominated or controlled by international communism the official said china was well aware of the laws some of which date to the anti communist early s but that there is not sufficient political will in the u s to change them china has been the subject of about a dozen cases involving anti dumping in the u s within the last two years which the u s side won he said but for the first time china signed last week an agreement which it itself initiated to voluntarily restrain exports of at least two categories of steel goods which may lead the u s side to withdraw the anti dumping case he added another diplomat said willingness to provide such voluntary export restraints would be an important issue in bilateral trade issues and in peking s application to gatt china has the potential to disrupt world markets especially in textiles other gatt countries will be nervous about china in this respect but there is a precedent for other centralled planned economies in gatt the diplomat said poland czechoslovakia hungary and romania are members of gatt but none has china s massive market potential for imports or its vast labour pool to produce cheap exports in a speech today in the northeast city of dalian u s secretary of state george shultz said his country welcomed china s interest in participating in gatt the process of chinese accession will not be accomplished overnight the gatt rules were not designed for a large economy of the chinese type shultz said china can play an important role by actively joining gatt discussions seeking to expand general trading opportunities and enhance market access for exports worldwide china can further develop its foreign trade system so as to gain the maximum benefit from its gatt participation he said the problems facing u s china trade and gatt membership are similar a pricing system which many foreign businessmen regard as arbitrary and not related to actual costs especially for exports and a de facto dual currency system in a memorandum backing its application presented to gatt last month china said it was gradually reforming its economic system and replacing mandatory instruction with guidance planning and economic levers the diplomat said that to join gatt china had much to do reuter
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.