earn	champion products ch approves stock split champion products inc said its board of directors approved a two for one stock split of its common shares for shareholders of record as of april the company also said its board voted to recommend to shareholders at the annual meeting april an increase in the authorized capital stock from five mln to mln shares reuter 
acq	computer terminal systems cpml completes sale computer terminal systems inc said it has completed the sale of shares of its common stock and warrants to acquire an additional one mln shares to sedio n v of lugano switzerland for dlrs the company said the warrants are exercisable for five years at a purchase price of dlrs per share computer terminal said sedio also has the right to buy additional shares and increase its total holdings up to pct of the computer terminal s outstanding common stock under certain circumstances involving change of control at the company the company said if the conditions occur the warrants would be exercisable at a price equal to pct of its common stock s market price at the time not to exceed dlrs per share computer terminal also said it sold the technolgy rights to its dot matrix impact technology including any future improvements to woodco inc of houston tex for dlrs but it said it would continue to be the exclusive worldwide licensee of the technology for woodco the company said the moves were part of its reorganization plan and would help pay current operation costs and ensure product delivery computer terminal makes computer generated labels forms tags and ticket printers and terminals reuter 
earn	cobanco inc cbco year net shr cts vs dlrs net vs assets mln vs mln deposits mln vs mln loans mln vs mln note th qtr not available year includes extraordinary gain from tax carry forward of dlrs or five cts per shr reuter 
earn	am international inc am nd qtr jan oper shr loss two cts vs profit seven cts oper shr profit vs profit revs mln vs mln avg shrs mln vs mln six mths oper shr profit nil vs profit cts oper net profit vs profit revs mln vs mln avg shrs mln vs mln note per shr calculated after payment of preferred dividends results exclude credits of or four cts and or nine cts for qtr and six mths vs or six cts and or cts for prior periods from operating loss carryforwards reuter 
earn	brown forman inc bfd th qtr net shr one dlr vs cts net mln vs mln revs mln vs mln nine mths shr dlrs vs dlrs net mln vs mln revs billion vs mln reuter 
earn	dean foods df sees strong th qtr earnings dean foods co expects earnings for the fourth quarter ending may to exceed those of the same year ago period chairman kenneth douglas told analysts in the fiscal fourth quarter the food processor reported earnings of cts a share douglas also said the year s sales should exceed billion dlrs up from billion dlrs the prior year he repeated an earlier projection that third quarter earnings will probably be off slightly from last year s cts a share falling in the range of cts to cts a share douglas said it was too early to project whether the anticipated fourth quarter performance would be enough for us to exceed the prior year s overall earnings of dlrs a share in douglas said dean should experience a pct improvement in our bottom line from effects of the tax reform act alone president howard dean said in fiscal the company will derive benefits of various dairy and frozen vegetable acquisitions from ryan milk to the larsen co dean also said the company will benefit from its acquisition in late december of elgin blenders inc west chicago he said the company is a major shareholder of e b i foods ltd a united kingdom blender and has licensing arrangements in australia canada brazil and japan it provides ann entry to mcdonalds corp mcd we ve been after for years douglas told analysts reuter 
earn	brown forman bfdb sets stock split ups payout brown forman inc said its board has approved a three for two stock split and a pct increase in the company cash dividend the company cited its improved earnings outlook and continued strong cash flow as reasons for raising the dividend brown forman said the split of its class a and class b common shares would be effective march the company said directors declared a quarterly cash dividend on each new share of both classes of cts payable april one to holders of record march prior to the split the company had paid cts quarterly brown forman today reported a pct increase in third quarter profits to mln dlrs or dlr a share on a seven pct increase in sales to a record mln dlrs brown forman said nine month profits declined a bit to mln dlrs or dlrs a share from mln dlrs or dlrs a share a year earlier due to a second quarter charge of cts a share for restructuring its beverage operations the company said lower corporate tax rates and the restructuring are expected to substantially improve brown forman s earnings and cash flow in fiscal reuter 
earn	esquire radio and electronics inc ee th qtr shr profit cts vs profit four cts annual div cts vs cts prior yr net profit vs profit revs vs mths shr profit cts vs loss cts net profit vs loss revs mln vs note annual dividend payable april to stockholders of record on march reuter 
earn	united presidential corp upco th qtr net shr cts vs cts net vs revs mln vs mln year shr dlrs vs dlrs net vs revs mln vs mln note results include adjustment of dlrs or cts shr for year and both periods from improvement in results of its universal life business than first estimated reuter 
earn	owens and minor inc obod raises qtly dividend qtly div eights cts vs cts prior pay march record march reuter 
earn	computer language research in clri th qtr shr loss cts vs loss cts net loss vs loss revs mln vs mln qtly div three cts vs three cts prior year shr profit two cts vs profit cts net profit vs profit revs mln vs mln note dividend payable april one to shareholders of record march reuter 
earn	cinram ltd th qtr net shr cts vs cts net mln vs sales mln vs mln avg shrs vs year shr dlrs vs dlrs net mln vs mln sales mln vs mln avg shrs vs reuter 
earn	standard trustco sees better year standard trustco said it expects earnings in to increase at least to pct from the dlrs or dlrs per share recorded in stable interest rates and a growing economy are expected to provide favorable conditions for further growth in president brian o malley told shareholders at the annual meeting standard trustco previously reported assets of billion dlrs in up from billion dlrs in return on common shareholders equity was pct last year up from pct in reuter 
earn	handy and harman hnh th qtr loss shr loss cts vs loss three cts net loss vs loss rev mln vs mln months shr loss cts vs profit cts net loss vs profit rev mln vs mln note net loss for th qtr includes charge for restructuring of mln dlrs after tax or cts a share net loss includes after tax special charge of mln dlrs or cts a share reuter 
acq	chemlawn chem rises on hopes for higher bids chemlawn corp chem could attract a higher bid than the dlrs per share offered by waste management inc wnx wall street arbitrageurs said shares of chemlawn shot up to in over the counter trading with mln of the company s mln shares changing hands by late afternoon this company could go for times cash flow or dlrs maybe dollars depending on whether there is a competing bidder an arbitrageur said waste management s tender offer announced before the opening today expires march this is totally by surprise said debra strohmaier a chemlawn spokeswoman the company s board held a regularly scheduled meeting today and was discussing the waste management announcement she said a statement was expected but it was not certain when it would be ready she was unable to say if there had been any prior contact between waste management and chemlawn officials i think they will resist it said elliott schlang analyst at prescott ball and turben inc any company that doesn t like a surprise attack would arbitrageurs pointed out it is difficult to resist tender offers for any and all shares for cash schlang said chemlawn could try to find a white knight if does not want to be acquired by waste management analyst rosemarie morbelli of ingalls and snyder said servicemaster companies l p svm or rollins inc rol were examples of companies that could be interested chemlawn with about two mln customers is the largest u s company involved in application of fertilizers pesticides and herbicides on lawns waste management is involved in removal of wastes schlang said chemlawn s customer base could be valuable to another company that wants to capitalize on a strong residential and commercial distribution system both schlang and morbelli noted that high growth rates had catapulted chemlawn s share price into the mid s in but the stock languished as the rate of growth slowed schlang said the company s profits are concentrated in the fourth quarter in chemlawn earned dlrs per share for the full year and dlrs in the fourth quarter morbelli noted chemlawn competes with thousands of individual entrepreuers who offer lawn and garden care sevice reuter 
trade	brazil anti inflation plan limps to anniversary inflation plan initially hailed at home and abroad as the saviour of the economy is limping towards its first anniversary amid soaring prices widespread shortages and a foreign payments crisis announced last february the plan froze prices fixed the value of the new cruzado currency and ended widespread indexation of the economy in a bid to halt the country s pct inflation rate but within a year the plan has all but collapsed the situation now is worse than it was although there was inflation at least the economy worked a leading bank economist said the crumbling of the plan has been accompanied by a dramatic reversal in the foreign trade account in and brazil s annual trade surpluses had been sufficient to cover the billion dlrs needed to service its billion dlr foreign debt for the first nine months of all seemed to be on target for a repeat with monthly surpluses averaging one billion dlrs but as exports were diverted and imports increased to avoid further domestic shortages the trade surplus plunged to mln dlrs in october and since then has averaged under mln reuter 
ship	agency reports ships waiting at panama canal the panama canal commission a u s government agency said in its daily operations report that there was a backlog of ships waiting to enter the canal early today over the next two days it expects due scheduled to transit end day backlog average waiting time tomorrow super tankers regular vessels north end hrs hrs south end hrs hrs reuter 
earn	america first mortgage sets special payout america first federally guaranteed mortgage fund two said it is making a special distribution of cts per exchangeable unit which includes cts from return on capital and cts from income gains reuter 
earn	emhart corp emh qtly dividend qtly div cts vs cts prior payable march record march nine reuter 
earn	am international am cites strong prospects am international inc reporting an operating loss for the january second quarter said prospects for the balance of the fiscal year remain good it said orders at its harris graphics subsidiary acquired in june continue to run at a strong pace for the six months orders rose pct over the corresponding prior year period or on an annualized basis are running at about mln dlrs the backlog at harris is up pct from the beginning of the fiscal year am said am international said its old division are expected to benefit from recent new product introductions and the decline in the value of the dollar research development and engineering expenditures in fiscal will be in the mln dlr range and the company said it has allocated another mln dlrs for capital expenditures earlier am reported a fourth quarter operating loss of two cts a share compared to profits of seven cts a share a year ago revenues rose to mln dlrs from mln dlrs reuter 
ship	gulf barge freight rates up further on call gulf barge freight rates firmed again on the outlook for steady vessel loadings at the gulf increasing the demand for barges to supply those ships dealers said no barges traded today on the st louis merchants exchange call session versus yesterday quotes included delivery this week on the illinois river joliet pct of tariff bid offered with next week same river ex chicago quoted the same both up percentage points next week mississippi river st louis pct bid offered up five points next week ohio river owensboro south pct bid offered up points on station illinois river south chicago pct bid offered no comparison march illinois ex chicago pct bid offered up points march ohio river bid at yesterday s traded level of pct offered at march lower mississippi river memphis cairo pct bid offered no comparison may illinois river ex chicago pct bid offered no comparison sept nov lower mississippi river memphis cairo pct bid offered with sept dec same section pct bid offered no comparison reuter 
earn	gulf applied gats sells units sees gain gulf applied technologies inc said it sold its pipeline and terminal operations units for mln dlrs and will record a gain of mln dlrs in the first quarter it added that any federal taxes owed on the transaction will be offset by operating loss carryovers reuter 
earn	farmers group inc fgrp th qtr net shr cts vs cts net vs revs mln vs mln year shr dlrs vs dlrs net vs revs billion vs mln avg shrs vs reuter 
earn	potomac electric power co pom jan net shr cts vs cts net vs revs vs avg shrs mln vs mln mths shr dlrs vs dlrs net vs revs billion vs billion avg shr mln vs mln note latest mths net includes gain cts per share for sale of virginia service territory to dominion resources inc d reuter 
acq	cofab inc buys gulfex for undisclosed amount cofab inc said it acquired gulfex inc a houston based fabricator of custom high pressure process vessels for the energy and petrochemical industries cofab said its group of companies manufacture specialized cooling and lubricating systems for the oil and gas petrochemical utility pulp and paper and marine industries reuter 
earn	tultex corp ttx sets quarterly dividend qtly div eights cts vs eight cts prior pay april one record march reuter 
earn	atico financial corp atfc th qtr net shr cts vs dlrs net vs mln revs mln vs mln year shr cts vs dlrs net vs mln revs mln vs mln note th qtr and yr amounts include acquisition of pct of common of atico formerly peninsula federal savings and loan association on january th qtr and yr net include net gain of mln dlrs or dlrs per share on exchange of common of pan america banks inc for common of ncnb corp purusant to a merger of the companies reuter 
earn	philippine long distance phi year net shr primary pesos vs pesos shr diluted pesos vs pesos qtly div pesos vs pesos net billion vs mln revs billion vs billion note full name philippine long distance telephone co figures quoted in philippine pesos dividend payable april to holders or record march exchange rate on day of dividend declaration was pesos per dollar reuter 
earn	liberty all star equity fund initial div qtly div five cts vs n a payable april two record march note dividend includes special two cts per share for the period beginning with the fund s commencement of operations on novebmer three through december reuter 
earn	combustion engineering inc csp regular div qtly div cts vs cts prior pay april record april reuter 
earn	tonka corp tka raises dividend qtly div two cts vs cts pay march record march reuter 
earn	bdm international bdm increases qtrly divs annual div class a cts vs cts prior annual div class b cts vs cts prior payable april one record march note full name is bdm international inc reuter 
earn	systematics inc syst regular payout qtly div three cts vs three cts prior pay march record february reuter 
earn	ivaco inc year net shr dlrs vs dlrs net vs revs billion vs billion note results include extraordinary gain of dlrs or six cts a share from secondary share offering of canron unit reuter 
acq	investment firms cut cyclops cyl stake a group of affiliated new york investment firms said they lowered their stake in cyclops corp to shares or pct of the total outstanding common stock from shares or pct in a filing with the securities and exchange commission the group led by mutual shares corp said it sold cyclops common shares on feb and for mln dlrs reuter 
earn	coradian corp cdin th qtr net shr profit three cts vs loss three cts net profit vs loss revs vs year shr profit one cent vs loss cts net profit vs loss revs mln vs mln avg shrs vs reuter 
earn	meridian bancorp inc mrdn sets regular payout qtly div cts vs cts prior pay april one record march reuter 
acq	american express axp seen in possible spinnoff american express co remained silent on market rumors it would spinoff all or part of its shearson lehman brothers inc but some analysts said the company may be considering such a move because it is unhappy with the market value of its stock american express stock got a lift from the rumor as the market calculated a partially public shearson may command a good market value thereby boosting the total value of american express the rumor also was accompanied by talk the financial services firm would split its stock and boost its dividend american express closed on the new york stock exchange at up on heavy volume american express would not comment on the rumors or its stock activity analysts said comments by the company at an analysts meeting tuesday helped fuel the rumors as did an announcement yesterday of management changes at the meeting company officials said american express stock is undervalued and does not fully reflect the performance of shearson according to analysts yesterday shearson said it was elevating its chief operating officer jeffery lane to the added position of president which had been vacant it also created four new positions for chairmen of its operating divisions analysts speculated a partial spinoff would make most sense contrary to one variation on market rumors of a total spinoff some analysts however disagreed that any spinoff of shearson would be good since it is a strong profit center for american express contributing about pct of earnings last year i think it is highly unlikely that american express is going to sell shearson said perrin long of lipper analytical he questioned what would be a better investment than a very profitable securities firm several analysts said american express is not in need of cash which might be the only reason to sell a part of a strong asset but others believe the company could very well of considered the option of spinning out part of shearson and one rumor suggests selling about pct of it in the market larry eckenfelder of prudential bache securities said he believes american express could have considered a partial spinoff in the past shearson being as profitable as it is would have fetched a big premium in the market place shearson s book value is in the mln dlr range shearson in the market place would probably be worth three to bilion dlrs in terms of market capitalization said eckenfelder some analysts said american express could use capital since it plans to expand globally they have enormous internal growth plans that takes capital you want your stock to reflect realistic valuations to enhance your ability to make all kinds of endeavors down the road said e f hutton group analyst michael lewis they ve outlined the fact that they re investing heavily in the future which goes heavily into the international arena said lewis that does not preclude acquisitions and divestitures along the way he said lewis said if american express reduced its exposure to the brokerage business by selling part of shearson its stock might better reflect other assets such as the travel related services business it could find its true water mark with a lesser exposure to brokerage the value of the other components could command a higher multiple because they constitute a higher percentage of the total operating earnings of the company he said lewis said shearson contributed mln in after tax operating earnings up from about mln dlrs in reuter 
earn	liberty all star usa sets initial payout liberty all star equity fund said it declared an initial dividend of five cts per share payable april two to shareholders of record march it said the dividend includes a quarterly dividend of three cts a share and a special payout of two cts a share which covers the period from november three when the fund began operations to december the fund said its quarterly dividend rate may fluctuate in the future reuter 
earn	ivaco sees minimal first quarter earnings ivaco inc said price pressure on steel products particularly in the u s and the recent increase in the value of the canadian dollar is expected to result in minimal first quarter earnings it said subsequent quarters should show substantial improvement from first quarter levels but earnings will not reach levels as long as those conditions continue ivaco earlier reported profit rose to mln dlrs after a one mln dlr extraordinary gain from mln dlrs the previous year it said demand for the company s products are continuing at high levels and sales are expected to show further growth revenues last year rose to billion dlrs from billion dlrs in reuter 
grain	u s grain carloadings fall in week u s grain carloadings totaled cars in the week ended february down pct from the previous week but pct above the corresponding week a year ago the association of american railroads reported grain mill product loadings in the week totalled cars down pct from the previous week but pct above the same week a year earlier the association said reuter 
acq	hong kong firm ups wrather wco stake to pct industrial equity pacific ltd a hong kong investment firm said it raised its stake in wrather corp to shares or pct of the total outstanding common stock from shares or 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 wrather common shares between feb and for mln dlrs when it first disclosed its stake in wrather earlier this month it said it bought the stock for investment purposes reuter 
earn	coleco industries inc clo th qtr shr loss dls vs profit cts net loss mln vs profit mln revs mln vs mln year shr loss dlrs vs profit dlrs net loss mln vs profit mln revs mln vs mln reuter 
crude	diamond shamrock dia cuts crude prices diamond shamrock corp said that effective today it had cut its contract prices for crude oil by dlrs a barrel the reduction brings its posted price for west texas intermediate to dlrs a barrel the copany said the price reduction today was made in the light of falling oil product prices and a weak crude oil market a company spokeswoman said diamond is the latest in a line of u s oil companies that have cut its contract or posted prices over the last two days citing weak oil markets reuter 
acq	liebert corp lieb approves merger liebert corp said its shareholders approved the merger of a wholly owned subsidiary of emerson electric co emr under the terms of the merger each liebert shareholder will receive shares of emerson stock for each liebert share reuter 
earn	northern telecom proposes two for one stock split 
earn	coleco industries clc sees profit in coleco industries inc said it expects to return to profitability in earlier coleco reported a net loss of mln dlrs for the year ended december compared to a profit of mln dlrs in the year earlier in a prepared statement the company said the dramatic swing in operating results was due primarily to the steep decline in sales of cabbage patch kids products from mln dlrs to mln dlrs coleco said it changed from a single product company to a more diversified organization through four major acquisitions last year products from the new acquisitions and other new product introductions are expected to enable it to return to profitability it said at the annual toy fair earlier this month vice president morton handel said analysts projected earnings of cts a share on sales of mln dlrs are reasonable reuter 
acq	gulf applied technologies gats sells units gulf applied technologies inc said it sold its subsidiaries engaged in pipeline and terminal operations for mln dlrs the company said the sale is subject to certain post closing adjustments which it did not explain reuter 
acq	investment group raises robeson rbsn stake a group of affiliated miami based investment firms led by fundamental management corp said it raised its stake in robeson industries corp to shares or pct of the total from or pct in a filing with the securities and exchange commission the group said it bought robeson common shares between jan and feb for dlrs the group said it may buy more shares and plans to study robeson s operations afterwards it may recommend that management make changes in its operations fundamental management chairman carl singer was recently elected to the robeson board reuter 
grain	gao likely to show certs more costly than cash a study on grain certificates due out shortly from the government accounting office gao could show that certificates cost the government to pct more than cash outlays administration and industry sources said analysis that the gao has obtained from the agriculture department and the office of management and budget suggests that certificates cost more than cash payments a gao official told reuters gao is preparing the certificate study at the specific request of sen jesse helms r n c former chairman of the senate agriculture committee the report which will focus on the cost of certificates compared to cash is scheduled to be released in mid march the cost of certificates said the gao source depends on the program s impact on the usda loan program if gao determines that certificates encourage more loan entries or cause more loan forfeitures then the net cost of the program would go up however if it is determined that certificates have caused the government grain stockpile to decrease the cost effect of certificates would be less gao will not likely suggest whether the certificates program should be slowed or expanded the gao official said but a negative report on certificates will fuel the fire against certificates and weigh heavily on at least an increase in the certificate program an agricultural consultant said the omb is said to be against any expansion of the program while usda remains firmly committed to it reuter 
earn	dahlberg inc dahl th qtr net shr profit cts vs loss seven cts net profit vs loss revs mln vs year shr profit five cts vs profit cts net profit vs profit revs mln vs mln avg shrs mln vs mln note year includes weeks reuter 
earn	city national corp ctyn raises dividend shr cts vs cts pay april record march reuter 
earn	page petroleum ltd year loss shr loss dlrs vs loss dlrs net loss mln vs loss mln revs mln vs mln note net includes nine mln dlr extraordinary loss for oil and gas writedowns and unrealized foreign exchange losses vs yr ago loss of mln dlrs reuter 
earn	idb communications group inc idbx year net period ended december shr cts vs cts net vs revs vs reuter 
earn	armor all products corp armr quarterly div qtly div ten cts vs ten cts pay april record march reuter 
crude	opec may have to meet to firm prices analysts opec may be forced to meet before a scheduled june session to readdress its production cutting agreement if the organization wants to halt the current slide in oil prices oil industry analysts said the movement to higher oil prices was never to be as easy as opec thought they may need an emergency meeting to sort out the problems said daniel yergin director of cambridge energy research associates cera analysts and oil industry sources said the problem opec faces is excess oil supply in world oil markets opec s problem is not a price problem but a production issue and must be addressed in that way said paul mlotok oil analyst with salomon brothers inc he said the market s earlier optimism about opec and its ability to keep production under control have given way to a pessimistic outlook that the organization must address soon if it wishes to regain the initiative in oil prices but some other analysts were uncertain that even an emergency meeting would address the problem of opec production above the mln bpd quota set last december opec has to learn that in a buyers market you cannot have deemed quotas fixed prices and set differentials said the regional manager for one of the major oil companies who spoke on condition that he not be named the market is now trying to teach them that lesson again he added david t mizrahi editor of mideast reports expects opec to meet before june although not immediately however he is not optimistic that opec can address its principal problems they will not meet now as they try to take advantage of the winter demand to sell their oil but in late march and april when demand slackens mizrahi said but mizrahi said that opec is unlikely to do anything more than reiterate its agreement to keep output at mln bpd analysts said that the next two months will be critical for opec s ability to hold together prices and output opec must hold to its pact for the next six to eight weeks since buyers will come back into the market then said dillard spriggs of petroleum analysis ltd in new york but bijan moussavar rahmani of harvard university s energy and environment policy center said that the demand for opec oil has been rising through the first quarter and this may have prompted excesses in its production demand for their opec oil is clearly above mln bpd and is probably closer to mln bpd or higher now so what we are seeing characterized as cheating is opec meeting this demand through current production he told reuters in a telephone interview reuter 
earn	cenergy crg reports th qtr net profit cenergy corp reported fourth quarter net income of dlrs or seven cts per share on revenues of mln dlrs for the year it reported a net loss of mln dlrs or cts per share as a result of writedowns in the book value of its oil and gas properties in the first two quarters revenues were mln dlrs following the company s fiscal year ended march it changed to a calender year end for the nine months ended dec it reported a loss of mln dlrs or dlrs per share on revenues of mln dlrs which it said was a result of noncash writedowns of oil and gas properties for the year ended march cenergy reported net income of dlrs or cts per share on revenues of mln dlrs the company said its reserves during the year fell to five mln barrels from mln barrels of oil and to bilion cubic feet of gas from bcf it said these reserves did not disappear but are available to produce as prices recover reuter 
earn	northern telecom ltd nt declares stock split two for one stock split pay may note split is subject to approval of shareholders at april annual meeting company also said it will increase dividend on post split shares to six cts from five cts reuter 
earn	torchmark tmk authorizes stock repurchase torchmark corp said its board authorized the purchase from time to time of a significant portion of its pct convertible subordinated debentures as of february it said there were outstanding mln dlrs of the principal amount of debenures the company also said it plans to redeem the debentures on june eight it also declared a regular quarterly dividend of cts per share on its common payable may one to shareholders of record april reuter 
earn	techamerica group inc tch th qtr loss shr loss six cts vs not available net loss vs profit revs vs year shr loss cts vs loss nine cts net loss vs loss revs mln vs mln reuter 
earn	wilfred american educational wae regular div qtly div three cts vs three cts prior pay april three record march reuter 
acq	drexel official has stake in epsilon data epsi a senior official of drexel burnham lambert inc and his father told the securities and exchange commission they have acquired shares of epsilon data management inc or pct of the total outstanding kenneth thomas senior vice president investments at drexel s los angeles office and his father retired university professor c a thomas said they bought the stake for mln dlrs primarily for investment purposes they said they may buy more stock or sell some or all of their stake depending on market conditions but have no plans to seek control of the company reuter 
acq	nova wins government okay for husky hyo deal nova the canadian company that owns pct of husky oil ltd said it received government approval for a transaction under which union faith canada holding ltd would buy a pct stake in husky nova said the minister of regional and industrial expansion michel cote ruled that union faith s purchase of the husky stake would not result in husky ceding control to a non canadian company it said this ruling was a key condition in completing the deal union faith is equally owned by hutchison whampoa ltd and hong kong electric holdings ltd under the agreement with union faith husky will become a private company with union faith and nova each holding pct of its stock nine pct of husky would be owned by relatives of li ka shing chairman of hutchison and five pct by the canadian imperial bank of commerice reuter 
earn	potomac electric power co pom january net oper shr cts vs cts oper net mln vs mln revs mln vs mln mths oper shr dlrs vs dlrs oper net mln vs mln revs billion vs billion note mths oper net excludes extraordinary gain of mln dlrs or cts per share from sale of virginia service territory to virginia power reuter 
acq	suffield financial ssbk gets fed approval suffield financial corp said the federal reserve board approved its application to acquire coastal bancorp csbk portland me suffield said it still needs the approval of the superintendent of maine s banking department reuter 
earn	afg industries inc afg quarterly dividend qtly div four cts vs four cts pay april record march reuter 
earn	gsw inc year net oper shr dlrs vs dlrs oper net vs revs mln vs mln note net excludes extraordinary gain of mln dlrs or dlrs shr from sale of camco inc shares vs yr ago loss of mln dlrs or dlrs shr reuter 
earn	santa anita realty sar quarterly dividend qtly div cts vs cts pay april record march santa anita realty enterprises inc reuter 
earn	liquid air corp lana quarterly dividend qtly div cts vs cts pay march record march reuter 
earn	marshall steel ltd year net oper shr five cts vs cts oper net vs revs mln vs mln note former name marshall drummond mccall inc results include extraordinary gains of dlrs or cts per share in and dlrs or cts in from income tax reduction reuter 
earn	marshall steel details gain from unit sale marshall steel ltd formerly marshall drummond mccall inc said it will report a mln dlr net gain before taxes this year from the sale of its drummond mccall division which was sold effective january one reuter 
earn	mayfair industries inc mayf th qtr net oper shr cts vs cts oper net vs revs vs avg shrs vs mths oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs note excludes tax gain of dlrs for qtr and year reuter 
earn	alatenn resources inc atng th qtr net shr cts vs cts net vs revs mln vs mln mths shr dlrs vs dlrs net vs revs mln vs mln reuter 
acq	versatile to sell unit to vicon versatile corp said it agreed in principle to sell its alberta based versatile noble cultivators co division to vicon inc of ontario for undisclosed terms the division manufactures tillage and spraying equipment reuter 
acq	videotron buys into exhibit company groupe videotron ltd said it agreed to buy pct of groupe promexpo inc a company which specializes in product exhibits for three mln dlrs reuter 
earn	memotec data inc year net shr cts vs cts net vs revs mln vs mln note results include extraordinary gains of dlrs or cts a share in and dlrs or cts a share in reuter 
crude	texaco canada cuts crude prices canadian cts bbl par grade to canadian dlrs 
crude	texaco canada txc lowers crude postings texaco canada said it lowered the contract price it will pay for crude oil canadian cts a barrel effective today the decrease brings the company s posted price for the benchmark grade edmonton swann hills light sweet to canadian dlrs a bbl texaco canada last changed its crude oil postings on feb reuter 
crude	marathon petroleum reduces crude postings marathon petroleum co said it reduced the contract price it will pay for all grades of crude oil one dlr a barrel effective today the decrease brings marathon s posted price for both west texas intermediate and west texas sour to dlrs a bbl the south louisiana sweet grade of crude was reduced to dlrs a bbl the company last changed its crude postings on jan reuter 
earn	george weston ltd year net shr dlrs vs dlrs net mln vs mln revs billion vs billion reuter 
acq	circuit systems csyi buys board maker circuit systems inc said it has bought all of the stock of ionic industries inc in exchange for shares of its common following the exchange there will be shares of circuit systems stock outstanding ionic holders will own about pct of the outstanding stock of circuit systems it said ionic a maker of circuit boards had revenues of mln dlrs and pretax profits of dlrs in up from revenues of mln and pretax profits of dlrs in circuit systems said reuter 
earn	mail boxes etc mail rd qtr jan net shr cts vs cts net vs revs vs avg shrs vs nine mths shr cts vs cts net vs revs vs reuter 
earn	munsingwear inc mun th qtr jan loss shr loss cts vs loss seven cts net loss vs loss revs mln vs mln year shr profit cts vs profit cts net profit vs profit revs mln vs mln avg shrs vs note per shr adjusted for for stock split july and for split may reuter 
earn	gti corp gti th qtr oper net oper shr profit six cts vs loss two cts oper net profit vs loss revs vs year oper shr profit cts vs loss two cts oper net profit vs loss revs mln vs mln note data does not include from discontinued operations th qtr gain of dlrs or cts per shr th qtr loss of dlrs or seven cts per shr year loss of dlrs or dlrs per shr and year loss of dlrs or cts per shr reuter 
crude	houston oil ho reserves study completed houston oil trust said that independent petroleum engineers completed an annual study that estimates the trust s future net revenues from total proved reserves at mln dlrs and its discounted present value of the reserves at mln dlrs based on the estimate the trust said there may be no money available for cash distributions to unitholders for the remainder of the year it said the estimates reflect a decrease of about pct in net reserve revenues and pct in discounted present value compared with the study made in reuter 
earn	famous restaurants inc fams th qtr loss shr loss dlrs vs loss eight cts net loss vs loss revs mln vs mln year shr loss dlrs vs profit four cts net loss vs profit revs mln vs mln note includes non recurring charges of dlrs in the th qtr and dlrs in the year for reserve for underperforming restaurants reuter 
earn	avery avy sets two for one stock split avery said its board authorizerd a two for one stock split an increased in the quarterly dividend and plans to offer four mln shares of common stock the company said the stock split is effective march with a distribution of one additional share to each shareholder of record march it said the quarterly cash dividend of cts per share on the split shares a pct increase from the cts per share before the split avery said it will register with the securities and exchange commission shrortly to offer four mln additional common shares it will use the proceeds to repay debt finance recent acquisitions and for other corporate purposes reuter 
interest	japan expected to cut base rate for state bodies japan is expected to cut the base lending rate for state financial institutions to pct from as part of the recent pact by major industrial nations in paris finance ministry sources said they said the cut is based on a revision of the trust fund bureau law which should be approved by parliament on march abolishing the pct minimum interest rate on deposits with the bureau the bureau channels funds to government financial institutions for public works and other official uses they said the base lending rate for state bodies such as the japan development bank people s finance corp and the finance corporations of local public enterprises usually moves in tandem with long term prime rates the sources said however it was impossible for them to follow the last cut to pct from pct on january because the trust fund bureau rate was legally set at pct the ministry will abolish the minimum rate and introduce a market related one to resolve the problem and stimulate the domestic economy they said on tuesday the ministry allowed long term bankers to cut their prime to a record low of pct effective february the move suggested it had reached agreement with depositors using the bureau the postal savings system of the posts and telecommunications ministry and the japan welfare annuity of the ministry of health and welfare the sources said these ministries are trying to determine which market rates should be considered when setting the bureau s deposit rate the ministry sources said coupon rates on new year government bonds minus percentage points is the likeliest choice they added reuter 
interest	italian treasury cuts interest on certificates the italian treasury said annual coupon rates payable march on two issues of long term treasury certificates ccts would be cut by about four percentage points compared with rates this march coupon rates on year certificates maturing march will fall to pct from pct and rates on year issues maturing in march would fall to pct from pct the treasury also cut by point six monthly coupons payable this september on six issues maturing between september and september the issues carry terms of between five and seven years and will have coupon rates of between and pct in september compared with and pct this march reuter 
crude	kuwait says no plans for emergency opec talks kuwait s oil minister in remarks published today said there were no plans for an emergency opec meeting to review oil policies after recent weakness in world oil prices sheikh ali al khalifa al sabah was quoted by the local daily al qabas as saying none of the opec members has asked for such a meeting he denied kuwait was pumping above its quota of barrels of crude daily bpd set under self imposed production limits of the nation organisation traders and analysts in international oil markets estimate opec is producing up to one mln bpd above a ceiling of mln bpd agreed in geneva last december they named kuwait and the united arab emirates along with the much smaller producer ecuador among those producing above quota kuwait they said was pumping mln bpd this rumour is baseless it is based on reports which said kuwait has the ability to exceed its share they suppose that because kuwait has the ability it will do so the minister said sheikh ali has said before that kuwait had the ability to produce up to mln bpd if we can sell more than our quota at official prices while some countries are suffering difficulties marketing their share it means we in kuwait are unusually clever he said he was referring apparently to the gulf state of qatar which industry sources said was selling less than bpd of its bpd quota because buyers were resisting official prices restored by opec last month pegged to a marker of dlrs per barrel prices in new york last week dropped to their lowest levels this year and almost three dollars below a three month high of dollars a barrel sheikh ali also delivered a challenge to any international oil company that declared kuwait sold below official prices because it was charging its official price of dlrs a barrel it had lost custom he said but did not elaborate however kuwait had guaranteed markets for its oil because of its local and international refining facilities and its own distribution network abroad he added he reaffirmed that the planned meeting march of opec s differentials committee has been postponed until the start of april at the request of certain of the body s members ecuador s deputy energy minister fernando santos alvite said last wednesday his debt burdened country wanted opec to assign a lower official price for its crude and was to seek this at talks this month of opec s pricing committee referring to pressure by oil companies on opec members in apparent reference to difficulties faced by qatar he said we expected such pressure it will continue through march and april but he expected the situation would later improve reuter 
crude	indonesia seen at crossroads over economic change indonesia appears to be nearing a political crossroads over measures to deregulate its protected economy the u s embassy says in a new report to counter falling oil revenues the government has launched a series of measures over the past nine months to boost exports outside the oil sector and attract new investment indonesia the only asian member of opec and a leading primary commodity producer has been severely hit by last year s fall in world oil prices which forced it to devalue its currency by pct in september but the u s embassy report says president suharto s government appears to be divided over what direction to lead the economy it appears to be nearing a crossroads with regard to deregulation both as it pertains to investments and imports the report says it primarily assesses indonesia s agricultural sector but also reviews the country s general economic performance it says that while many government officials and advisers are recommending further relaxation there are equally strong pressures being exerted to halt all such moves this group strongly favours an import substitution economy the report says indonesia s economic changes have been welcomed by the world bank and international bankers as steps in the right direction though they say crucial areas of the economy like plastics and steel remain highly protected and virtual monopolies three sets of measures have been announced since last may which broadened areas for foreign investment reduced trade restrictions and liberalised imports the report says indonesia s economic growth in calendar was probably about zero and the economy may even have contracted a bit this is the lowest rate of growth since the mid s the report notes indonesia the largest country in south east asia with a population of million is facing general elections in april but the report hold out little hope for swift improvement in the economic outlook for early indications point to a slightly positive growth rate not exceeding one pct economic activity continues to suffer due to the sharp fall in export earnings from the petroleum industry growth in the non oil sector is low because of weak domestic demand coupled with excessive plant capacity real declines in construction and trade and a reduced level of growth in agriculture the report states bankers say continuation of present economic reforms is crucial for the government to get the international lending its needs a new world bank loan of mln dlrs last month in balance of payments support was given partly to help the government maintain the momentum of reform the bank said reuter 
crude	saudi riyal deposit rates remain firm saudi riyal interbank deposits were steady at yesterday s higher levels in a quiet market traders said they were reluctant to take out new positions amidst uncertainty over whether opec will succeed in halting the current decline in oil prices oil industry sources said yesterday several gulf arab producers had had difficulty selling oil at official opec prices but kuwait has said there are no plans for an emergency meeting of the member organisation a traditional sunday lull in trading due to the european weekend also contributed to the lack of market activity spot next and one week rates were put at pct after quotes ranging between seven six yesterday one three and six month deposits were quoted unchanged at and pct respectively the spot riyal was quietly firmer at to the dollar after quotes of yesterday reuter 
crude	qatar unveils budget for fiscal the gulf oil state of qatar recovering slightly from last year s decline in world oil prices announced its first budget since early and projected a deficit of billion riyals the deficit compared with a shortfall of billion riyals in the last published budget for in a statement outlining the budget for the fiscal year beginning today finance and petroleum minister sheikh abdul aziz bin khalifa al thani said the government expected to spend billion riyals in the period projected expenditure in the budget had been billion riyals sheikh abdul aziz said government revenue would be about billion riyals down by about pct on the projected revenue of billion the government failed to publish a budget due to uncertainty surrounding oil revenues sheikh abdul aziz said that during that year the government decided to limit recurrent expenditure each month to one twelfth of the previous fiscal year s allocations minus pct he urged heads of government departments and public institutions to help the government rationalise expenditure he did not say how the budget shortfall would be covered sheikh abdul aziz said plans to limit expenditure in had been taken in order to relieve the burden placed on the country s foreign reserves he added in some billion riyals had been allocated for major projects including housing and public buildings social services health education transport and communications electricity and water industry and agriculture no figure was revealed for expenditure on defence and security there was also no projection for oil revenue qatar an opec member has an output ceiling of barrels per day sheikh abdul aziz said our expectations of positive signs regarding oil price trends foremost among them opec s determination to shoulder its responsibilites and protect its wealth have helped us make reasonable estimates for the coming year s revenue on the basis of our assigned quota reuter 
money-fx	gulf bond stock markets lag behind gib says gulf money markets have grown reasonably well during the past decade but bond and stock markets remain to a large extent fragmented and lag behind gulf international bank bsc gib said the bank s economist henry azzam said in a review of gulf capital markets that investors have to relinquish traditional investment vehicles such as real estate foreign currency bank accounts and precious metals greater financial sophistication is needed coupled with more diversified capital market instruments and a change in the disclosure requirements on company accounts he said the gib study reviewed capital markets under three categories money markets stock and bond markets azzam said gulf states had been making greater use of short term money market instruments and banks in the region had floated various euronotes and underwriting facilities nevertheless bond and stock markets remain to a large extent fragmented and lagging behind he said most debt in the region is still raised by syndicated loans and bank facilities and very few companies had made use of stock or bond issues only kuwait has an official stock exchange while other gulf nations have yet to establish exchanges but with dwindling financial surpluses in the gulf governments are actively pursuing ways to develop capital markets and set up domestic stock exchanges azzam said he said recession stemming from sliding oil prices had clearly had a negative impact on the development of capital markets in the region in addition family firms are reluctant to go public financial awareness among investors is still lacking and investment analysis and corporate reporting standards lack depth a sharp fall in share prices in the early s prompted investors to hold on to shares hoping for an eventual recovery azzam said the absence of proper commercial law in some gulf countries and authorities apparent reluctance to adopt financial innovations had also hampered capital markets he called for clearly defined laws governing incorporation of joint stock companies and the flotation of debt instruments azzam said capital market instruments should be made available to all citizens and institutions of gulf cooperation council gcc states bahrain kuwait qatar oman saudi arabia and the united arab emirates uae some moves had been taken in this direction with bahrain allowing gcc nationals to own up to pct of locally incorporated companies azzam said gulf money markets had received greater depth from the introduction of treasury bill offerings in bahrain and the expansion of securities repurchase regulations in saudi arabia but he added there is no bond market to speak of in saudi arabia qatar oman or the uae with the last saudi riyal denominated bond issued in while bahrain plans an official stock exchange and trading in saudi arabia has picked up establishment of formal exchanges in qatar oman and the uae does not appear imminent azzam said reuter 
crude	saudi arabia reiterates commitment to opec pact saudi arabian oil minister hisham nazer reiterated the kingdom s commitment to last december s opec accord to boost world oil prices and stabilise the market the official saudi press agency spa said asked by the agency about the recent fall in free market oil prices nazer said saudi arabia is fully adhering by the accord and it will never sell its oil at prices below the pronounced prices under any circumstance nazer quoted by spa said recent pressure on free market prices may be because of the end of the northern hemisphere winter season and the glut in the market saudi arabia was a main architect of the december accord under which opec agreed to lower its total output ceiling by pct to mln barrels per day bpd and return to fixed prices of around dlrs a barrel the agreement followed a year of turmoil on oil markets which saw prices slump briefly to under dlrs a barrel in mid from about dlrs in late free market prices are currently just over dlrs nazer was quoted by the spa as saying saudi arabia s adherence to the accord was shown clearly in the oil market he said contacts among members of opec showed they all wanted to stick to the accord in jamaica opec president rilwanu lukman who is also nigerian oil minister said the group planned to stick with the pricing agreement we are aware of the negative forces trying to manipulate the operations of the market but we are satisfied that the fundamentals exist for stable market conditions he said kuwait s oil minister sheikh ali al khalifa al sabah said in remarks published in the emirate s daily al qabas there were no plans for an emergency opec meeting to review prices traders and analysts in international oil markets estimate opec is producing up to one mln bpd above the mln ceiling they named kuwait and the united arab emirates along with the much smaller producer ecuador among those producing above quota sheikh ali denied that kuwait was over producing reuter 
money-fx	zambia to retain currency auction says kaunda zambia will retain its foreign exchange auction system despite the suspension of weekly auctions since january president kenneth kaunda said we have not run away from the auction it hasn t been abolished at all he told reuters in an interview he said the system would be reintroduced after current talks with the world bank and the international monetary fund and he hoped would be backed by fresh foreign aid funds kaunda dismissed central bank statements the new auction system would be used to allocate foreign exchange to private bidders but not to fix the exchange rate kaunda said the auction system had faltered because of the government s shortage of foreign exchange to meet demand it was suspended when the kwacha s rapid devaluation and strong fluctuations made economic planning almost impossible for the government and the private sector he said weekly foreign exchange auctions began in october the kwacha fell from to the dollar to about in months in january the government was more than two months in arrears in paying foreign currency to successful bidders and the auction was suspended and replaced with a fixed exchange rate of nine kwacha to the dollar reuter 
acq	nippon kokan steel affiliates considering merger toshin steel co ltd toss t and azuma steel co ltd affiliates of nippon kokan kk nkkt t are considering a merger company spokesmen said toshin steel owned pct by nippon kokan and azuma steel owned pct by nippon kokan are expected to decide by the end of march they said both firms have been struggling with losses caused by the recession in the steel industry and the yen s appreciation azuma steel s current losses are estimated at billion yen in the year ending march against a billion loss a year earlier a spokesman said the firm employs workers toshin steel with workers has given no forecast for the year ending march but industry sources said they expected the company to show current losses of about five billion yen or more in compared with a billion loss in reuter 
trade	japan february interim trade surplus jumps japan s customs cleared trade surplus in the first days of february jumped to billion dlrs from billion a year earlier the finance ministry said the february interim surplus was sharply up from a mln dlr surplus in the same january period fob exports rose pct from a year earlier in the first days of february to billion while cif imports fell pct to billion the average dollar yen rates were for exports and for imports against for exports and for imports a year earlier reuter 
crude	saudi february crude output put at mln bpd saudi crude oil output last month fell to an average of mln barrels per day bpd from mln bpd in january gulf oil sources said they said exports from the ras tanurah and ju aymah terminals in the gulf fell to an average mln bpd last month from mln in january because of lower liftings by some customers but the drop was much smaller than expected after gulf exports rallied in the fourth week of february to mln bpd from mln in the third week the sources said the production figures include neutral zone output but not sales from floating storage which are generally considered part of a country s output for opec purposes saudi arabia has an opec quota of mln bpd under a production restraint scheme approved by the nation group last december to back new official oil prices averaging dlrs a barrel the sources said the two fold jump in exports last week appeared to be the result of buyers rushing to lift february entitlements before the month end last week s high export levels appeared to show continued support for official opec prices from saudi arabia s main crude customers the four ex partners of aramco the sources said the four exxon corp xon mobil corp mob texaco inc tx and chevron corp chv signed a long term agreement last month to buy saudi crude for dlrs a barrel however the sources said the real test of saudi arabia s ability to sell crude at official prices in a weak market will come this month when demand for petroleum products traditionally tapers off spot prices have fallen in recent weeks to more than one dlr below opec levels saudi arabian oil minister hisham nazer yesterday reiterated the kingdom s commitment to the december opec accord and said it would never sell below official prices the sources said total saudi refinery throughput fell slightly in february to an average mln bpd from mln in january because of cuts at the yanbu and jubail export refineries they put crude oil exports through yanbu at bpd last month compared to zero in january while throughput at bahrain s refinery and neutral zone production remained steady at around bpd each reuter 
earn	japan s ntt forecasts profits fall in nippon telegraph and telephone corp ntt expects its profits to fall to billion yen in the year ending march from a projected billion this year the company said total sales for the same period are expected to rise to billion yen from a projected billion this year ntt said in a business operations plan submitted to the post and telecommunications ministry ntt said it plans to make capital investments of billion yen in including billion for research and development as against a total of billion this year an ntt spokesman said increased competition from new entrants to the telecommunications field and the effect of a sales tax scheduled to be introduced next january were the major factors behind the projected decrease in profits the japanese telecommunications industry was deregulated in reuter 
ship	china signs world bank loan for tianjin port china has signed a mln dlr loan agreement with the world bank to partly finance new berths with an annual capacity of mln tonnes at the mln tonne a year capacity tianjin port the new china news agency said china will provide mln yuan for the project and a chinese company won a bid against other firms from seven countries to do the foundation work it said it said of the new berths will be able to handle ships of more than tonnes three will handle containers and the expansion will enable the port to handle coke non metal mineral ores and mining equipment for the first time reuter 
acq	shv says it making tender offer for up to mln shares in ic gas 
earn	cheung kong holdings ltd ckgh hk year shr h k dlrs vs final div cents vs making cents vs net billion dlrs vs mln note earnings excluded extraordinary gains of mln dlrs vs mln bonus issue one for four vs nil share split four for one dividend payable june books close may reuter 
acq	wallenbergs fight bid for swedish match stake sweden s wallenberg group fought back a bid by the london based swedish financier erik penser to secure a large stake in swedish match smbs st one of the companies at the core of their business empire a statement issued by the wallenberg holding companies ab investor and forvaltnings ab providentia said they had taken over an option held by nobel industrier sweden ab to acquire pct of the voting rights in swedish match thre wallenbergs paid nobel industrier nobl st in which penser group has a pct stake about pct over the market price for the swedish match option the statement said swedish match s b shares open to foreign buyers closed at crowns on friday the a shares with increased voting rights closed at crowns for the restricted and for the free shares the statement said the deal increased investor s stake to pct of the voting rights and pct of the share capital while providentia is left holding pct of the voting rights and pct of the share capital in swedish match the wallenbergs stake in swedish match had previously amounted to pct of the voting rights in the company the swedish match deal will cost the wallenbergs about mln crowns share analysts said making it one of the most expensise moves the group has undertaken in the last four years to defend its far flung interests from outside predators the wallenbergs originally sold nobel industrier an arms and chemicals group to penser in to pay for buying volvo volv st out of two other key group companies atlas copco asts st and stora koppabergs skps st since then the wallenbergs were ousted as the largest shareholders in skf skfr st by skanska ab skbs st and frederik lundberg wrested control of incentive ab from them lundberg a zurich based swedish property tycoon also managed to acquire a pct stake in another wallenberg company the diary equipment firm alfa laval ab alfs st during the wallenbergs have been concentrating on building up their stake in investor and providentia to prevent any raid on the heart of their business empire but analysts say the wallenbergs position in the electrical engineering firm asea ab asea st is also too small at pct of the voting rights and there has been growing speculation that the group will be forced to sell off fringe interests to protect its core activities reuter 
acq	shv says it making tender offer for ic gas shv united kingdom holding co ltd said it was making a tender offer for up to mln ordinary shares in imperial continental gas association icgs l it said in a statement the offer was on the basis of p for each ic gas ordinary and p for every one stg nominal of ic gas loan stock shv already holds mln ic gas ordinary stock units representing around pct of the current issued share capital successful completion of the offer would increase shv s stake in ic gas to mln shares representing around pct of issued share capital it said the offer capitalises ic gas at around one billion stg it said it was tendering for both ordinary stock and loan stock which when fully converted gave a total of mln ic gas ordinary it is making the tender offer through n m rothschilds ic gas said in a statement it noted the shv tender offer and the terms were being considered it said a further statement would be made as soon as possible reuter 
acq	sale tilney buys stake in u s insurance broker sale tilney plc said it has purchased pct of the ordinary share capital of b and r international inc a u s insurance broker for mln dlrs sale is paying mln dlrs in cash on completion with the balance plus interest to be paid in equal instalments over the next six years b and r posted pretax profit of dlrs in the year to dec when it had net tangible assets of dlrs reuter 
earn	estimated drop in japan corporate profits trimmed the combined profits of japan s major corporations excluding financial institutions are forecast to fall pct in the year ending march compared to the pct decline projected in late november wako research institute of economics said the private research body also said in a statement that of the firms listed on the first section of the tokyo stock exchange foresee an pct fall in sales in the year against an pct fall estimated last november current profits are projected to fall pct in on sales seen increasing by pct it said rationalisation measures taken by manufacturing industries to cope with the yen s sharp rise are beginning to brighten their business outlook the institute said it said lower interest rates which are expected to reduce corporate borrowing costs are also behind the improved performance outlook earnings performance in the non manufacturing sector will be supported by firm demand in the real estate and construction businesses it said the forecast was based on average exchange rate estimates of yen to the dollar in and yen in reuter 
interest	japan to promote interest rate liberalisation the bank of japan decided at a policy board meeting to promote further interest rate liberalisation by lowering the minimum denomination of regulation free large deposits and by raising the interest rate ceiling on money market certificates mmcs a central bank official said the new guideline will go into effect on april the bank said under the guideline the minimum denomination of regulation free large deposits will be lowered to mln yen from mln the interest rate ceiling of mmcs with maturities of between one year and two years will be set at percentage point below the prevailing certificate of deposit rate the bank said but the ceiling on mmcs with maturities of one year or less will remain the same or percentage point below the cd rates the minimum denomination of mmcs will be lowered to mln yen from mln the bank also said time deposit rates will be lowered by point effective march in line with the half point cut in the official discount rate on february new interest rates on two year and one year deposits at banks for example will be pct and pct per annum respectively demand deposit rates however will remain the same reuter 
acq	exco buys u s government securities broker exco international plc a subsidiary of british and commonwealth shipping co plc bcom l said it had agreed in principle to buy an pct stake in rmj holdings corp for about mln dlrs exco chairman richard lacy told reuters the acquisition was being made from bank of new york co inc bk n which currently holds a pct and from rmj partners who hold the remainder bank of new york and the partners will retain about pct each and these stakes will be bought over the next six years rmj is the holding company of rmj securities one of the largest u s government securities brokers it is also involved in broking notes obligations and other instruments sponsored by u s federal agencies lacy said exco had been considering buying a u s government securities broker for the past four years and had made an offer for rmj when it was sold by security pacific corp spc n in rmj was then valued at about mln dlrs b and c managing director peter goldie said rmj would be bought at about the same multiple as exco suggesting net income of around mln dlrs the company s earnings had not been hit by the halving of brokerage fees some months ago as volumes had since doubled lacy said that rmj employed some people with in the brokerage business and about in its sms unit which provided computer software for the financial services community rmj securities had offices in new york where total market turnover of u s government securities was billion dlrs a day and in london where it has billion it was also given permission last week to open an office in tokyo where total market turnover had lifted rapidly to about five billion dlrs a day the acquisition would contribute between five and pct of b and c s share earnings in on a proforma basis reuter 
acq	coloroll agrees to buy u s wallcoverings company coloroll group plc said it has entered into a conditional agreement to acquire the business and assets of wallco inc and related companies for mln dlrs miami based wallco manufactures and distributes wallcoverings and showed a pretax profit of mln dlrs on turnover of mln in the year ending june the total u s market was estimated to be worth mln dlrs in having grown by pct in the previous five years coloroll said the combined sales and profit of the enlarged coloroll u s business would be mln and four mln dlrs respectively reuter 
trade	sweden to go ahead with s african trade sanctions sweden s ruling social democratic party gave full power to the government to decree unilateral trade sanctions against south africa prime minister ingvar calrsson said carlsson told a news conference the party decided the fight against apartheid took priority over sweden s traditional policy of only adopting sanctions with the backing of the u n security council the government will decide later what form the trade boycott will take and when it will come into force reuter 
trade	japan u s set to begin high level trade talks japan and the u s kick off top level trade talks tomorrow amid signs officials from both sides are growing increasingly irritated with each other the talks held annually at sub cabinet level to review the whole gamut of u s japan economic relations will pave the way for american secretary of state george schultz s one day stop over here at end week on his way home from china faced with growing congressional protectionist pressure the u s administration is pressing japan for speedy action to reduce its still huge trade surplus u s officials said we appreciate their frustration a senior japanese government official said but we are also frustrated the official said the pct rise of the yen over the last months has hit japan hard forcing exporters to slash spending and lay off workers to make up for lost sales abroad that has not yet shown up in dollar based statistics on trade but it will he said he said the u s administration was ignoring the progress that has been made and instead emphasizing the problems that remain when it talks with congress it would only take five minutes to list their accomplishments a senior u s official replied the talks begin tomorrow with high level discussions on the economic structures of both countries and how they affect the bilateral trade imbalance which last year amounted to billion dlrs in japan s favour on the following two days the topics will range from multilateral trade talks under the auspices of the general agreement on tariffs and trade gatt to such bilateral trade problems as super computers the structural talks are intended to be free wheeling discussions among senior officials tomorrow s topics include savings and investment issues such as consumer credit and housing and the implications of government budget deficits these talks come at a particularly delicate time for the japanese government which is facing increasing domestic pressure to abandon its tight fisted fiscal policy and stimulate the sagging economy by spending more some u s officials complained japan has no intention of boosting domestic demand and imports as washington wants japanese officials in turn pointed the finger at the huge u s budget deficit as one of the main culprits for the trade imbalance that budget deficit has meant that the u s is buying more imports japan seems particularly peeved at being singled in a draft trade bill before the senate as a nation following adverserial trade practices it condemns japan without due process one japanese official said that reference spoils what is otherwise a well thought out bill introduced by democratic senator lloyd bentsen he said japan is also not totally happy with the administration s trade bill particularly its proposal to establish reciprocal access to foreign markets as one criteria for retaliatory trade action by the u s officials said nevertheless japanese officials said they remain in a weak bargaining position especially with the threat of a trade bill overhanging them we have no leverage one official admitted as a result tokyo is striving to meet u s complaints about its trade practices in a variety of fields including super computers the u s is pressing for greater access to the japanese super computer market the japanese government has sent a long questionnaire to public institutions like universities which buy the sophisticated machines in hopes of eventually setting up informal bidding procedures easily understood by all potential sellers officials said reuter 
earn	carlton communications optimistic for carlton communications plc has started the current financial year well with accounts for the first four months showing a healthy increase on the same period last year and chairman m p green told the annual meeting he looked forward to with optimism the issue of mln shares in adr form had now been successfully completed he added carlton intended to increase its presence in the u s which represented pct of the world television market conditions worldwide in the television industry continued to look buoyant the chairman noted reuter 
crude	gulf arab deputy oil ministers to meet in bahrain deputy oil ministers from six gulf arab states will meet in bahrain today to discuss coordination of crude oil marketing the official emirates news agency wam reported wam said the officials would be discussing implementation of last sunday s agreement in doha by gulf cooperation council gcc oil ministers to help each other market their crude oil four of the gcc states saudi arabia the united arab emirates uae kuwait and qatar are members of the organiaation of petroleum exporting countries opec and some face stiff buyer resistance to official opec prices reuter 
crude	saudi arabia reiterates commitment to opec accord saudi arabian oil minister hisham nazer reiterated the kingdom s commitment to last december s opec accord to boost world oil prices and stabilize the market the official saudi press agency spa said asked by the agency about the recent fall in free market oil prices nazer said saudi arabia is fully adhering by the accord and it will never sell its oil at prices below the pronounced prices under any circumstance saudi arabia was a main architect of december pact under which opec agreed to cut its total oil output ceiling by pct and return to fixed prices of around dollars a barrel reuter 
crude	kuwait minister says no emergency opec talks set kuwait s oil minister said in a newspaper interview that there were no plans for an emergency opec meeting after the recent weakness in world oil prices sheikh ali al khalifa al sabah was quoted by the local daily al qabas as saying that none of the opec members has asked for such a meeting he also denied that kuwait was pumping above its opec quota of barrels of crude daily bpd crude oil prices fell sharply last week as international oil traders and analysts estimated the nation opec was pumping up to one million bpd over its self imposed limits reuter 
trade	taiwan plans new tariff cuts taiwan plans another round of deep tariff cuts this year to help narrow its trade surplus with the u s a senior economic planner said wang chao ming vice chairman of the council for economic planning and development told reuters taiwan would further reduce import tariffs on products sometime in the second half of this year cuts of up to pct on those items were made last year and wang said further cuts would go much deeper we have to speed up liberalisation and cut import tariffs faster and more substantially he said the united states taiwan s main trading partner has said the island s import tariffs still ranging from a high of almost pct were unacceptable it has criticised the cuts as too selective taiwan s trade surplus with the united states hit billion dlrs last year the surplus has boosted foreign exchange reserves to billion dlrs which wang said made taiwan a target for u s protectionism wang said the trade surplus and the reserves weakened taiwan s position in talks with washington over export quotas particularly for shoes textiles and machine tools which are among the island s main export earners a special taiwanese trade delegation leaves for washington tomorrow to try to renegotiate an agreement signed last year limiting exports of taiwan textiles under the accord taiwan s textile export growth was limited to pct each year until taipei has said it is losing markets to south korea and hong kong which were given more generous terms reuter 
earn	hutchison sees higher payout satisfactory profits hutchison whampoa ltd hwhh hk expects satisfactory profits in and will pay a higher dividend for the year chairman li ka shing said he did not make any specific projections for the company s earnings this year but he said the firm will pay a dividend of not less than cents per share after a proposed four for one stock split and a one for four bonus issue it paid total dividends of dlrs per share last year equal to cents per share adjusting for the bonus and share split hutchison which has operations ranging from trading to property and container terminals earlier reported after tax profits of billion dlrs against billion dlrs in the total excluded extraordinary gains of mln dlrs partly from the sale of some of its stake in the south china morning post the leading english language newspaper compared with mln dlrs the previous year it said it expects another mln dlr gain in from the sale of the remaining shares li said hong kong s property market remains strong while its economy is performing better than forecast with its largely export led growth gross domestic product grew by nearly nine pct last year against an initial government projection of pct but he said hong kong s large trade deficit with the u s may result in protectionist measures that will adversely affect the british colony he said all of the company s major operations showed improved results in hutchison said earlier it will sell its entire pct interest in hongkong electric holdings ltd hkeh hk to cavendish international holdings ltd itself a spin off from hongkong electric under a reorganisation announced separately hongkong electric will spin off all its non electricity related activities into cavendish which will be listed on the local stock exchange hongkong electric shareholders will receive one share in cavendish for every hongkong electric share cavendish will buy the mln hongkong electric shares from hutchison by issuing mln new shares the spin off and the sale of hongkong electric shares will give hutchison a pct stake in cavendish li said the decision to spin off cavendish is to relieve hongkong electric of public criticism of the power company for making risky investments but he denied there was pressure from the government for the spin off he said cavendish will have seven billion dlrs of assets and will be almost debt free with mln dlrs of liabilites its major assets are the hong kong hilton hotel property development and interests in husky oil ltd hyo to of canada and pearson plc pson l of britain reuter 
acq	scientific micro systems smsi acuires supermac scientific micro systems inc said it has acquired supermac technology a rapidly growing supplier of enhancement products and disc drive subsystems for the apple personal computer market scientific micro said it acquired all the common stock of supermac in exchange for mln shares of its own common stock the stock closed at dlrs bid on friday supermac a privately held firm based in mountain view california as is scientific micro reported a net profit of dlrs on revenue of mln dlrs in fiscal it expects its revenue to approximately double in reuter 
acq	american express axp viewing shearson options american express co rumored to be considering a spinoff of part of shearson lehman brothers inc said it is studying a range of options for its brokerage unit that could improve shearon s access to capital and help it meet broadening international competition in a joint statement american express and shearson said the actions under consideration are an integral part of american express worldwide financial services strategy and that the two companies have been having both internal and external discussions on the matters american express said no decision has been reached on the strategic options and that it and shearson could ultimately decide to follow growth plans already in place last week rumors circulated on wall street that the financial services giant was considering a spinoff of part of shearson and there was speculation it may be considering selling a stake to a japanese firm analysts said the speculation also focused on american express selling pct of the profitable brokerage firm to the public there was some speculation that american express had also considered a total spinoff of shearson but the plan was considered highly unlikely analysts said american express said in the statement on sunday that it will not comment on rumors and speculation and a spokesman would not go beyond the statement the company also remained silent last thursday and friday as rumors drove american express stock up a total of dlrs in two days to bring it to a friday close at it said it issued the statement on sunday because a similar statement was being circulated to employees analysts have been divided on whether it makes sense for american express to give up a stake in the wholly owned brokerage which improved its after tax earnings by about pct in the last year some analysts said american express may consider spinning off part of shearson because it is concerned that its stock price does not fully reflect the value of the brokerage firm shearson contributed mln dlrs of american express billion dlr net in american express ambitious plans for international growth may be also enhanced by the added cash that spinning out part of shearson would bring analysts speculated that all of shearson would have a market value of about billion dlrs to some however the need for added capital is puzzling american express is in a position where they can raise capital if they need to said larry eckenfelder of prudential bache securities analysts said rumors were fed by the reorganization of shearson management wednesday chief operating officer jeffrey lane got the added previously vacant post of president the reorganization also created four new positions for chairmen of shearson s operating divisions a move analysts speculated would allow shearson to be a stand alone company analysts contacted on sunday said the statement does little to clarify last week s market speculation it does confirm however that the financial services firm which unsuccessfully attempted to expand shearson with a major acquisition last year is looking beyond its own walls for growth and positioning in the global market competition late last year shearson s takeover offer to the e f hutton group inc was rejected by hutton and analysts said there had been speculation that shearson also was rebuffed when it approached another major wall street brokerage reuter 
acq	ropak ropk has pct of buckhorn bkn ropak corp said it received and accepted about common shares and series a convertible preferred shares of buckhorn inc at four dlrs and dlrs each respectively in response to its tender offer that expired friday and it now owns pct of buckhorn voting power the company had owned common and preferred shares before starting the hostile tender ropak said it is borrowing the funds needed to buy the buckhorn shares from its bank lender and will not need to use any funds that another bank had committed to provide under a margin loan ropak said it waived minimum acceptance requirements to buy the shares and intends to evaluate a number of possible ways of completing an acquisition of buckhorn it said it hopes that buckhorn s board will reevaluate its position and enter into meaningful negotiations reuter 
acq	penril pnl seeks to sell two units penril corp said it is seeking to sell its triplett electrical instrument corp subsidiary in bluffton ohio and triplett s alltest division in hoffman estates ill as part of a plan to concentrate on its three profitable division and reduce its debt load the company also said it is evaluating a plan to satisfy its obligations under its pct subordinated notes but gave no details interest on the notes is due today penril further said director clifford l alexander jr has resigned from the board it gave no reason penril said shareholders at the annual meeting approved the limitation of directors liability reuter 
acq	dale burdett inc faces damage claim dale burdett inc said it faces damages claims totalling about dlrs from the former owners of burdett publications inc the company said on february its predecessor nolex development inc acquired burdett publications inc in an exchange of mln common shares for all burdett publications shares but the transaction was not qualified with the california department of corporations as a result it said the former burdett publications owners have a claim for damages against dale burdett as successor to nolex for one yuear starting january with the damages measured by the difference in values of shares exchanged plus interest from february reuter 
acq	purolator pcc in buyout with hutton efh new jersey based overnight messenger purolator courier corp said it has agreed to be acquired for about mln dlrs by a company formed by e f hutton lbo inc and certain managers of purolator s u s courier business analysts have said that purolator has been for sale for some time purolator announced earlier it was mulling a takeover bid but analysts wrongly predicted the offer was from another courier company hutton lbo a wholly owned subsidiary of e f hutton group inc will be majority owner of the company hutton said the acquiring company pc acquisition inc is paying dlrs cash per share for pct of purolator s stock in a tender offer to begin thursday the rest of the shares will be purchased for securities and warrants to buy stock in a subsidiary of pc acquisition containing purolator s u s courier operations if all the shares of purolator are tendered shareholders would receive for each share dlrs cash six dlrs in debentures and a warrant to buy shares in a subsidiary of pc acquisition containing the u s courier operations hutton said in the merger shareholders would get mln dlrs aggregate amount of guaranteed debentures due of pc acquisition and warrants to buy pct of the common stock of the pc courier subsidiary hutton said the company has valued the warrants at two to three dlrs per share purolator s stock price closed at dlrs on friday while some analysts estimated the company was worth in the mid s at least one said it would be worth to dlrs this follows sales of two other purolator units it agreed recently to sell its canadian courier unit to onex capital for mln dlrs and previously sold its auto filters business purolator retains its stant division which makes closure caps for radiators and gas tanks a hutton spokesman said the firm is reviewing its options on stant purolator s courier business has been lagging that of its u s rivals because of the high price it paid in the past several years to add air delivery to its ground fleet e f hutton will provide mln dlrs of its funds to complete the transaction this so called bridge financing will be replaced later with long term debt most likely in the form of bank loans hutton said hutton lbo is committed to keeping the courier business its president warren idsal said purolator lost mln dlrs over the last two years largely due to u s courier operations which we believe the management is turning around we belive it will be a very serious competitor in the future said idsal william taggart chief executive officer of u s courier division will be chief executive officer of the new company the tender offer will be conditioned on a minimum of two thirds of the common stock being tendered and not withdrawn to the expiration of the offer as well as certain other conditions the offer will begin thursday subject to clearances from the staff of the interstate commerce commission and will expire business days after commencement unless extended reuter 
acq	financial santa barbara fsb to make purchase financial corp of santa barbara said it has signed a definitive agreement to purchase stanwell financial the lending operations unit of mortgage banking company stanwell mortgage for undisclosed terms reuter 
earn	bbc ag brown boveri und cie bbcz z year parent company net profit mln swiss francs vs mln orders received billion francs vs billion sales billion francs vs billion group sales billion francs vs billion group orders billion francs vs billion reute 
acq	marriott mhs to sell hotel four seasons hotels said it and vms realty partners of chicago have agreed to purchase the santa barbara biltmore hotel from marriott corp for an undisclosed amount it said the venture will rename the hotel the four seasons biltmore at santa barbara and invest over mln dlrs in improvements on the room property reuter 
earn	brown boveri omits dividend plans warrant bond bbc ag brown boveri und cie bbcz z said it will omit dividend in for the second consecutive year it said it planned to invite shareholders and non voting stockholders to subscribe to a warrant bond issue of around mln swiss francs to be made after the june annual meeting the value of the stock subscription rights should correspond roughly to the dividend of francs per share paid in the company also plans to issue participation certificates with a par value of mln swiss francs from which existing shareholders are excluded reuter 
acq	viacom said it has new national amusements mcv holdings bids 
acq	laroche starts bid for neco npt shares investor david f la roche of north kingstown r i said he is offering to purchase common shares of neco enterprises inc at dlrs each he said the successful completion of the offer plus shares he already owns would give him pct of neco s common shares la roche said he may buy more and possible all neco shares he said the offer and withdrawal rights will expire at est gmt march reuter 
earn	sdc sydney development corp nine mths loss period ended december oper shr loss dlrs vs loss cts oper loss vs loss revs vs note current shr and net exclude extraordinary gain of dlrs or five cts shr versus extraordinary gain of dlrs or four cts shr reuter 
acq	senior engineering makes mln dlr us purchase senior engineering group plc said it reached agreement with cronus industries inc to acquire the whole share capital of south western engineering co for mln dlrs cash this sum is being financed by a term loan south western is one of the u s s leading manufacturers of heat transfer equipment with a turnover of mln dlrs and pre tax profits of mln in completion of the deal is conditional on approval under u s hart scott rodino regulations which is expected within days some dlrs is payable immediately mln dlrs payable on completion with the balance due by june reuter 
earn	cheung kong chairman sees strong results in cheung kong holdings ltd ckgh hk is expecting strong results this year after reporting better than expected profits in chairman li ka shing said he did not give a specific earnings projection but he told reporters the firm will pay total dividends of not less than cents a share this year after a one for four bonus issue and a four for one stock split the company earlier declared total dividends equal to cents a share for adjusting for the stock split and bonus issue cheung kong s earnings rose to billion h k dlrs in well above market expectations of mln to one billion dlrs they compared with profits of mln dlrs in cheung kong also reported extraordinary gains of mln dlrs mainly from the firm s sale of the hong kong hilton hotel to hongkong electric holdings ltd hkeh hk for one billion dlrs it had gains of mln dlrs in li attributed the surge in earnings to a buoyant local property market and substantial increases in contributions from associated companies looking ahead should be another year of stability for the property market li said the growth in hong kong s exports is expected to stimulate the demand for industrial buildings cheung kong is cash rich and is looking for new projects in the british colony li said noting the firm is interested in a land reclamation project along the hong kong harbour and is exchanging views with the government on a proposal to build a second airport reuter 
earn	whittaker corp st qtr oper shr cts vs cts 
acq	viacom via receives two revised offers viacom international inc said it received revised merger offers from national amusements inc and mcv holdings inc the company said the special committee plans to meet later today to review both offers viacom said national amusements arsenal holdings inc raised the value of its offer for the viacom shares not held by national amusements in three areas national amusements holds pct of viacom s stock the cash value of the offer was raised to dlrs from the dlrs a viacom share offered february while the value of the fraction of a share of exchangeable preferred being offered was increased to dlrs a share from six dlrs the interest rate to be used to increase the cash value of the merger if delayed beyond april was raised to nine pct from eight pct and pct after may a viacom spokesman said the arsenal holdings s offer continues to include a pct interest in arsenal for present viacom shareholders viacom said mcv holdings a group which includes the company s senior management and the equitable life assurance society of the united states raised the value of its offer by increasing the value of the preferred being offered to dlrs from dlrs a share and raising the ownership in the new company to be held by present viacom shareholders to pct from pct mcv called its previous offer made february the final proposed revision of its agreement with viacom reuter 
earn	waste management corp votes two for one stock split and boosts qtly dividend to cts 
acq	pittston agrees to acquire wtc international in exchange of stock 
earn	tuesday morning inc tues th qtr net shr dlrs vs dlrs net vs revs mln vs mln avg shrs vs year shr dlrs vs dlrs net vs sales mln vs mln avg shrs vs reuter 
acq	diagnostic retrieval systems inc makes mln dlr bid for rospatch corp 
acq	miller tabak has pct of penn traffic pnf miller tabak hirsch and co said it has received an accepted common shares of penn traffic co in response to its dlr per share tender offer that expired friday and together with the shares it already owned it now has about pct of penn traffic the company said penn traffic is expected to hold a special shareholders meeting later this month to approve a merger into miller tabak at the tender price it said two miller tabak representatives will be named to the penn traffic board on march four to serve as the only directors with penn traffic president and chief executive officer guido malacarne the company said it received financing for the transaction from first national bank of minneapolis and salomon inc sb reuter 
earn	waste management wmx votes split ups payout waste management corp said its board voted a two for one stock split payable april record march in other action waste management directors approved an increase in the quarterly dividend to cts from cts payable april three record march reuter 
earn	porex technologies porx sets initial dividend porex technologies corp said its board declared an initial annual dividend of cts per share its first payout payable march to holders of record march reuter 
earn	davis water dwws declares stock dividend davis water and waste industries inc said its board declared a pct stock dividend payable march to holders of record march reuter 
earn	medco containment mccs sets initial payout medco containment services inc said its board declared an initial annual dividend of cts per share its first payout payable march to holders of record march reuter 
acq	pittston pco agrees to acquire wtc waf pittston co said it has tentatively agreed to acquire wtc international n v in a tax free exchange of stock pittston said it agreed to exchange common share for each of the about wtc common shares outstanding pittston said wtc s three principal shareholders who own pct of its stock are parties to this agreement they have granted pittston the right of first refusal to their shares wtc has granted pittston an option to buy wtc shares equal to poct of its outstanding stock the agreement is subject to approval of both boards and wtc shareholders pittston said described wtc as a fast growing air freight forwarding company with operations throughout the world its revenues totaled nearly mln dlrs in the year ended november and for the quarter ended on that date it earned mln dlrs on revenues of mln dlrs pittston said its burlington air express subsidiary generates about two thirds of its mln dlrs in annual revenes with its domestic air freight services reuter 
earn	sdc sydney cost review may eliminate products sdc sydney development corp earlier reporting an increased nine month operating loss said a cost control review now underway may result in cost reduction and elimination of unprofitable and non strategic products and services the company s operating loss for the nine months ended december increased to mln dlrs from a loss of mln dlrs in the prior year it said earlier revenues increased by pct to mln dlrs from year earlier mln dlrs reuter 
earn	multi step products inc six mths dec loss shr loss cts loss revs note initial public listing december reuter 
acq	consolidated tvx says it will issue shares to buy stakes in three brazil mining firms 
earn	whittaker corp wkr st qtr jan net oper shr cts vs cts qtly div cts vs cts prior oper net vs sales mln vs mln note prior year net excludes loss from discontinued operations of dlrs company said common shares outstanding down significantly to reflecting retirement of about shares since start of restructurining in august dividend pay april record april reuter 
earn	stop and shop cos inc shp th qtr jan net oper shr dlrs vs dlrs oper net mln vs mln sales billion vs mln avg shrs mln vs mln year oper shr dlrs vs dlrs oper net mln vs mln sales billion vs billion avg shrs mln vs mln notes operating net excludes losses of mln dlrs or cts a share vs dlrs or two cts a share in quarter and mln dlrs or cts a share vs mln dlrs or cts a share from discontinued operations this includes provision in latest quarter of mln dlrs for closing of almys department store co operating net in latest quarter and year includes dlrs charge for restructuring announced in early january reuter 
earn	jim walter corp jwc regular dividend qtly div cts vs cts in prior qtr payable april one record march reuter 
acq	diagnostic drs makes a bid for rospatch rpch diagnostic retrieval systems inc said it has made an offer to acquire through a wholly owned unit all outstanding shares of rospatch corp s common stock for dlrs a share cash or about mln dlrs drs a warfare systems producer said it would make the transaction through a cash tender offer for all but not less than pct of rospatch s outstanding common stock followed by a merger with rospatch a labels high technology and wood producer at the same purchase price per share drs said the deal is subject to approval by the rospatch board and the tender offer expires on march reuter 
earn	whittaker wkr to have gains from sales whittaker corp said it will have a gain on the sale of discontinued businesses after any operating losses from the businesses up until the dates of disposition but it will defer reporting the gain until its restructuring program hsa been substantially completed the company said in the first quarter ended january m it completed the divestiture of its health maintenance organization operations to travelers corp tic sold its whittar steel strip operations to dofascoxinc and sold its equity investment in bertram trojan inc to an affiliate of investcorp the company said it has entered into definitive agreements to sell whittaker general medical corp bennes marrel sa of france and juster steel corp as well the company said to date it has received proceeds of about mln dlrs from divestitures and has used the funds to reduce debt incurred in the repurchase of its common shares whittaker today reported first quarter earnings from continuing operations fell to dlrs from dlrs a year before the year earlier figure excluded a dlr loss from discontinued operations reuter 
acq	the japan fund jpn gets buyout offer the japan fund inc said it has received an unsolicited offer from sterling grace capital management lp acting together with certain other persons and entities to purchase all the assets of the fund at five pct below its aggregate net asset value the japan find said tne deal is subject to obtaining satisfactory financing and a due diligence review it added that the proposal has been referred to its board of directors for consideration reuter 
earn	samsung co calendar div won vs won net profit billion won vs billion sales billion vs billion note company has set sales target of billion won reuter 
earn	daewoo corp calendar div won vs won net profit billion won vs billion sales billion won vs bilion note company has set sales target of billion reuter 
acq	corning to offer share for each hazleton share under earlier agreement 
acq	bank of new york bk to have gain on unit sale bank of new york co said it and the management of rmj securities corp have agreed to sell pct of their interests in rmj holding corp to british and commonwealth holdings plc and bank of new york expects to realize a substantial gain on the transaction rmj holding is the holding company for rmj securities a large broker of u s government securities and agency obligations bank of new york owns a majority interest in rmj holding and management of rmj securities the remainder bank of new york said the sale is expected to be completed during the second quarter it said it and rmj securities management will continue to own pct of rmj holding for now but the agreement provides for the sale of that remaining interest to british and commonwealth over the next six years reuter 
acq	corning glw hazleton hlc set excahnge ratio corning glass works said the exchange ratio for its previously announced acquisition of hazleton laboratories corp has been established at corning common share for each hazleton common share corning said the prospectus regarding the merger is expected to be mailed tomorrow to all hazleton holders of record february hazleton shareholders will vote on the proposed merger at a special meeting on march reuter 
acq	bally bly completes purchase of golden nugget bally manufacturing corp said it completed the acquisition of the golden nugget casino hotel in atlantic city new jersey from golden nugget inc bally also acquired from golden nugget various parcels of real estate in atlantic city it noted the transaction included mln dlrs in cash and stock and the assumption of a mln dlrs mortgage reuter 
earn	warwick insurance managers inc wimi th qtr oper shr cts vs cts oper net vs revs mln vs avg shrs vs year oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs note net excludes investment gains dlrs vs dlrs in quarter and dlrs vs dlrs in year year net excludes dlr tax credit share adjusted for one for two reverse split in november reuter 
earn	gelco corp nd qtr shr cts vs cts 
earn	strober organization inc strb th qtr net shr cts vs cts net vs sales mln vs mln avg shrs vs five mln year shr cts vs cts net vs sales mln vs mln avg shrs vs five mln reuter 
crude	shell canada cuts crude oil prices by up to canadian dlrs bbl effective march one 
earn	brenco inc bren declares qtly dividend qtly div three cts vs three cts prior pay april six record march reuter 
earn	massachusetts investors growth stock fund payout qtly div from income cts vs dlrs in prior qtr including capital gains of dlrs payable march record february reuter 
earn	premdor inc th qtr net shr cts vs cts net vs revs mln vs mln year shr dlrs vs cts net vs revs mln vs mln reuter 
acq	american nursery ansy buys florida nursery american nursery products inc said it purchased miami based heinl s nursery inc for undisclosed terms heinl s nursery has sales of about mln dlrs and owns acres of which are in shade houses and about square feet cover greenhouses shipping and office facilities reuter 
earn	mfs managed sectors trust dividend increased semi annual div from income of cts vs cent in prior period payable march record february reuter 
acq	esselte business esb unit buys antonson unit esselte business systems inc s esselte meto division said it has acquired the antonson america co a subsidiary of antonson machines ab of sweden esselte said the antonson unit based in laporte indiana manufactures scales and label printers the company said the purchase is part of a plan to increase the range of retail electronic scales being offered by esselte in the u s it said the acquisition will enble esselte to increase its distribution base in its effort to grow in the u s reuter 
acq	four seasons buying marriott mhs hotel four seasons hotels inc and vms realty partners said they agreed to acquire the santa barbara biltmore hotel in california from marriott corp for undisclosed terms closing was expected by march they added the companies said they would jointly own the hotel and rename it the four seasons biltmore at santa barbara they said they would spend more than mln u s dlrs to enhance the biltmore s position as one of the finest resort hotels in north america chicago based vms realty is a real estate and development firm reuter 
earn	stone sto splits stock raises payout stone container corp said it is splitting its common stock for and increasing its dividend pct the dividend of cts a share an increase of five cts over the prior cts a share on pre split shares is payable june to holders of record may the stock split also is payable june to holders of record may reuter 
earn	s k i ltd skii nd qtr jan net shr cts vs cts net vs rev mln vs mln six months shr cts vs cts net vs rev mln vs mln reuter 
earn	kapok corp kpk year sept loss shr loss cts vs profit cts net loss vs profit revs mln vs mln note prior year net includes gain on sale of property of dlrs reuter 
crude	study group urges increased u s oil reserves a study group said the united states should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry u s policy now is to raise the strategic reserve to mln barrels from its present mln to help protect the economy from an overseas embargo or a sharp price rise the aspen institute for humanistic studies a private group also called for new research for oil exploration and development techniques it predicted prices would remain at about dlrs a barrel for several years and then rise to the mid s with imports at about pct of u s consumption it said instead that such moves as increasing oil reserves and more exploration and development research would help to guard against or mitigate the risks of increased imports reuter 
earn	k tron international inc ktii th qtr net oper shr profit cts vs loss dlrs oper net profit vs loss revs mln vs year oper shr profit cts vs loss dlrs oper net profit vs loss revs mln vs mln note net includes pretax unusual gain dlrs vs loss dlrs in quarter and losses dlrs vs dlrs in year items include settlement of patent suit and provision for investment writeoff and item provision for loss on sale of scale business net both periods excludes dlr tax credit reuter 
earn	presidential realty corp pdo annual net shr dlrs vs dlrs net vs rev mln vs mln note net gain from property investments dlrs or cts per share vs dlrs or cts per share reuter 
acq	redstone details sweetened viacom via offer investor sumner redstone who leads one of the two groups vying for control of viacom international inc offered to sweeten his bid for the company by dlrs a share cash and dlrs in securities in a filing with the securities and exchange commission redstone who controls dedham mass based national amusements inc a theater chain operator offered to raise the cash portion of its viacom offer to dlrs a share from dlrs redstone also raised the face value of the preferred stock he is offering to dlrs from six dlrs the redstone offer which is being made through arsenal holdings inc a national amusements subsidiary set up for that purpose which also give viacom shareholders one fifth of a share of arsenal common stock after the takeover viacom said earlier today it received revised takeover bids from redstone and mcv holdings inc a group led by viacom management which is competing with redstone for control of the company and already has a formal merger agreement with viacom the company did not disclose the details of the revised offers but said a special committee of its board would review them later today the redstone group which has a pct stake in viacom and the management group which has a pct stake have both agreed not to buy more shares of the company until a merger is completed unless the purchases are part of a tender offer for at least half of the outstanding stock the two rivals also signed confidentiality agreements which give them access to viacom s financial records provided they keep the information secret in his sec filing redstone who estimated his cost of completing the takeover at billion dlrs said bank of america is confident it can raise billion dlrs besides the financing it would raise through a bank syndicate bank of america has also agreed to provide a separate mln dlr for the limited purpose of partial financing and has committed to provide another mln dlrs redstone said merrill lynch pierce fenner and smith inc has increased its underwriting commitment to mln dlrs of subordinated financing debt for the viacom takeover from the mln dlrs it agreed to underwrite earlier redstone said redstone said his group would contribute more than mln dlrs in equity toward the takeover the redstone equity contribution to the takeover would consist of all of his group s viacom common shares and at least mln dlrs cash he said the new offer the second sweetened deal redstone has proposed in his month long bidding war with management also contains newly drawn up proposed merger documents he said last week the management group submitted what it called its last offer for the company valued at mln dlrs and consisting of dlrs a share cash preferred stock valued at eight dlrs a share and equity in the new company redstone s previous offer had been valued at billion dlrs reuter 
acq	montedison concludes talks with antibioticos montedison spa moni mi said it has concluded its negotiations with spanish pharmaceuticals company antibioticos sa a company spokesman told reuters we have concluded the talks and we are now awaiting authorization from spanish authorities he declined to comment further earlier today the italian company postponed a scheduled press conference on its talks with antibioticos an italian press report today said montedison has agreed to acquire antibioticos for billion lire reuter 
acq	utilicorp ucu completes acquisition utilicorp united inc said it completed the acquisition of west virginia power from dominion resources for about mln dlrs the sale was approved by the west virginia public service commission in january and became effective march one west virginia s management will continue to be responsible for operating the utility it said reuter 
crude	study group urges increased u s oil reserves a study group said the united states should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry u s policy now is to raise the strategic reserve to mln barrels from its present mln to help protect the economy from an overseas embargo or a sharp price rise the aspen institute for humanistic studies a private group also called for new research for oil exploration and development techniques it predicted prices would remain at about dlrs a barrel for several years and then rise to the mid s with imports at about pct of u s consumption the study cited two basic policy paths for the nation to protect the u s industry through an import fee or other such device or to accept the full economic benefits of cheap oil but the group did not strongly back either option saying there were benefits and drawbacks to both it said instead that such moves as increasing oil reserves and more exploration and development research would help to guard against or mitigate the risks of increased imports reuter 
acq	carbide uk looks to acquisitions for growth union carbide corp is looking to acquisitions and joint ventures to aid its chemicals and plastics growth according the h w lichtenberger president of chemicals and plastics describing this as a major departure in the company s approach to commercial development he told the annual new business forum of the commercial development association we are looking to acquisitions and joint ventures when they look like the fastest and most promising routes to the growth markets we ve identified not very long ago union carbide had the attitude that if we couldn t do it ourselves it wasn t worth doing or if it was worth doing we had to go it alone lichtenberger explained he said there are times when exploiting a profitable market is done best with a partner nor do we see any need to plow resources into a technology we may not have if we can link up profitably with someone who is already there he said carbide has extended its catalyst business that way and is now extending its specialty chemicals business in the same way reuter 
acq	corrected bankamerica negotiating sale of units bank of america nt and sa s bac n west german branch said it is negotiating the sale of bankhaus centrale credit ag a small local west german bank it acquired in and of its west german visa credit card operation michael seibel bank of america vice president and regional manager said the negotiations were proceeding well he declined to give further details bank of america s west german branch lost some mln marks in the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation the sale of the units is part of the bank s worldwide restructuring plan reuter 
earn	franklin gold fund cuts dividend semi div cts vs cts prior pay march record march two reuter 
earn	franklin california tax free income fund payout mthly div cts vs cts prior pay march record march two reuter 
earn	franklin age high income fund sets payout mthly div cts vs cts prior pay march record march two reuter 
crude	petro canada cut crude prices by canadian dlrs bbl effective march one 
earn	franklin federal tax free income fund payout mthly div cts vs cts prior pay march record march two reuter 
earn	franklin new york tax free income fund payout mthly div cts vs cts prior pay march record march two reuter 
earn	franklin u s government securities fund payout mthly div six cts vs six cts prior pay march record march two reuter 
earn	first mississippi corp frm sets payout qtly div six cts vs six cts prior pay april record march reuter 
ship	rotterdam port union and employers to meet dutch port and transport union fnv agreed to an employers request to reconvene abandoned peace talks tonight to try to end strikes that have disrupted rotterdam s general cargo sector for the past six weeks a union spokesman said talks broke down thursday when the union walked out after employers tabled their final offer to end the strikes which started january in protest at planned redundancies of from the sector s workforce starting with this year the employers invitation to restart the talks comes on the day a deadline set by minister of social affairs louw de graaf for a resolution of the dispute expires de graaf said if the dispute had not ended by today he would withdraw the mln guilder annual labour subsidy to the sector no comment was immediately available from the employers organization reuter 
earn	jim walter corp jwc sets payout qtly div cts vs cts prior pay april one record march reuter 
earn	japan s ntt forecasts profits fall in nippon telegraph and telephone corp ntt expects its profits to fall to billion yen in the year ending march from a projected billion this year the company said total sales for the same period are expected to rise to billion yen from a projected billion this year ntt said in a business operations plan submitted to the post and telecommunications ministry ntt said it plans to make capital investments of billion yen in including billion for research and development as against a total of billion this year reuter 
earn	duro test corp dur nd qtr jan net shr cts vs cts net vs revs mln mln six mths shr cts vs cts net vs revs mln vs mln reuter 
earn	franklin utilities fund sets payout qtly div cts vs cts prior pay march record march two reuter 
earn	gelco corp gel nd qtr jan net shr cts vs cts net vs revs mln vs mln avg shrs mln vs mln six mths shr cts vs cs net vs revs mln vs mln avg shrs mln vs mln note fiscal second quarter and first half earnings include a gain of mln dlrs and exclude preferred dividend requirements of five mln dlrs in the quarter and mln dlrs in the first half fiscal net reduced by currency losses equal to six cts a share in the second quarter and equal to nine cts in the six months reuter 
earn	internchange financial services isbj payout up qtly div cts vs cts prior pay april record march note interchange financial services corp reuter 
acq	kapok corp kpk in technical default kapok corp said it is in techical default of its loans from southeast banking corp stb and murray steinfeld but is negotiating with the lenders it said neither has declared the loans due the company said it has agreed to sell the peter pan restaurant in urbana md for dlrs or one mln dlrs after the payment of expenses reuter 
earn	newport corp nesp nd qtr jan net shr cts vs cts net vs sales mln vs six mths shr cts vs cts net vs sales mln vs mln reuter 
earn	kapok corp kpk st qtr dec loss shr loss cts vs loss cts net loss vs loss revs vs avg shrs vs reuter 
earn	preferred healthcare ltd phcc th qtr net shr six cts vs four cts net vs revs vs mths shr cts vs cts net vs revs vs reuter 
earn	tranzonic cos tnz sets quarterly qtly div cts vs cts prior pay april record march reuter 
earn	cronus industries inc crns th qtr loss oper shr loss cts vs loss cts oper net loss vs loss revs mln vs mln mths oper shr loss cts vs loss cts oper net loss vs loss revs mln vs mln note excludes income from discontinued operations of vs for qtr and mln vs for year excludes extraordinary charge of for current qtr and for year reuter 
earn	mercury entertainment corp mcry year nov shr loss four cts vs loss one ct net loss vs loss revs vs reuter 
earn	benguet corp be calendar net income mln pesos vs mln operating revenues billion vs billion operating profit mln vs mln earnings per share vs note company statement said gold operations contributed pct of consolidated earnings reuter 
crude	unocal ucl unit cuts crude oil posted prices unocal corp s union oil co said it lowered its posted prices for crude oil one to dlrs a barrel in the eastern region of the u s effective feb union said a dlrs cut brings its posted price for the u s benchmark grade west texas intermediate to dlrs louisiana sweet also was lowered dlrs to dlrs the company said no changes were made in union s posted prices for west coast grades of crude oil the company said reuter 
acq	investor group has talks with pesch on ami ami wedge group inc a houston investment firm with a pct stake in american medical international inc said it has had talks with pesch and co which is seeking control of the company in a filing with the securities and exchange commission wedge which is owned by issam fares a lebanese citizen living in switzerland also said it discussed the possibility of joining with others in its own bid to seek control of ami wedge stressed that it has no current plans to seek control of ami but refused to rule out a takeover try in the future wedge said it has had discussions with ami management pesch the closely held health care and investment concern controlled by chicago physician leroy pesch and other ami shareholders it did not specify in its sec filing which issues selling its ami stake or joining with others in a takeover try were discussed with which group but it said the talks did not produce any agreements or understandings wedge said it believes that some form of restructuring of ami and its business would be highly desirable and appropriate at this time wedge which holds mln shares of ami common stock said it plans to hold further talks with company management pesch and other shareholders pesch last week sweetened his bid for the company to dlrs a share in cash and securties or billion dlrs based on ami s total outstanding from an all cash dlr a share bid which the company rejected reuter 
earn	i m s international inc imsi sets quarterly qtly div four cts vs four cts prior pay march record march reuter 
acq	banner bnr completes tender for rexnord rex banner industries inc said mln of the outstanding mln shares in rexnord inc were tendered pursuant to its dlr a share offer that closed at midnight est feb together with the five mln rexnard shares it already owns the company said it now holds a pct stake in the company it said the completion of the deal is subject to approval by rexnard holders and to other closing conditions it expects the deal to close in about days reuter 
earn	mutual of omaha interest shares muo qtly div qtly div cts vs cts prior pay april one record march reuter 
acq	corrected bankamerica negotiating units sale bank of america nt and sa s bac n west german branch said it is negotiating the sale of bankhaus centrale credit ag a small local west german bank it acquired in and of its west german visa credit card operation michael seibel bank of america vice president and regional manager said the negotiations were proceeding well he declined to give further details bank of america s west german branch lost some mln marks in the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation the sale of the units is part of the bank s worldwide restructuring plan corrects year of loss in third paragraph in item which originally ran february reuter 
acq	osr osrc to make acquisition osr corp said it has agreed to acquire the properties and assets of telcom international group for mln common shares which would give former telcom owners an pct interest in the combined company telcom is an international film and television distributor the assets being acquired consist mostly of distribution rights to films valued at over one mln dlrs the company said osr said as part of the acquisition agreement is is required to sell its pct interest in standard knickerbocker ltd which makes jeans in canada osr said it expects to net about dlrs on the sale of standard knickerbocker the company said both transactions are subject to approval by shareholders at a meeting to be held in april or may it said reuter 
earn	mercury entertainment mcry sees better results mercury entertainment corp said it expects improved results in the company today reported a loss for the year ended november of dlrs on revenues of dlrs compared with a loss of dlrs on revenues of dlrs a year before reuter 
acq	cronus industries inc crns sells unit cronus industries inc said it agreed to sell its heat transfer equipment business southwestern engineering co for a slight premium over book value plus a release of cronus from liability on approximately three mln dlrs of subsidiary indebtedness the company said the sale to a subsidiary of senior engineering group plc a british company will take place this month reuter 
earn	unisys corp uis sets quarterly qtly div cts vs cts prior pay may seven record april seven reuter 
earn	jacobson jcbs votes split increases payout jacobson stores inc said its board voted a three for two stock split payble march record march in other action jacobson s directors approved an increase in its quarterly dividend to cts on a post split basis payable april record march the new dividend rate represents a pct increase over the cts paid quarterly on a pre split basis reuter 
earn	harley davidson inc hdi th qtr net oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs year oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs note results exclude one time gains of or four cts and or cts for qtr and year vs gains of or dlrs and or dlrs for prior periods reuter 
acq	hoechst ag completes celanese cz acquisition hoechst ag of west germany said it has completed the acquisition of celanese corp hoechst acquired a majority of celanese shares in a recent tender offer at dlrs per common share reuter 
acq	americus trust hpu extends deadline americus trust for american home products shares said it extended its deadline for accepting tendered shares until november an extension of nine months the trust which will accept up to mln shares of american home products ahp said it has already received tenders for about four mln shares the trust is managed by alex brown and sons inc absb and was formed november reuter 
earn	morse shoe inc mrs th qtr net shr cts vs cts net vs revs mln vs mln mths shr dlrs vs dlrs net vs revs mln vs reuter 
ship	versatile to build polar ice breaker versatile corp s shipbuilding subsidiary has a letter of intent to build a mln dlr polar icebreaker for the canadian coast guard transport minister john crosbie said in a vancouver address crosbie said versatile pacific shipyards inc was the low bidder to build the arctic class icebreaker but the company must meet certain financial and engineering conditions before the contract is awarded the government also announced it will provide up to mln dlrs in loan insurance to help versatile prepare for the construction of the vessel said before the contract can be awarded versatile will be required to offer assurances that the shipyard is technically and financially capable of performing the work crosibie said versatile s bid was mln dlrs lower than competing bidders and will generate person years of direct employment work on the vessel which crosbie said would be the most powerful icebreaker in the world would begin next year and completed in the government announced plans to build the icebreaker last year following the controversial passage of the u s coast guard s vessel the polar sea through the disputed northwest passage the u s government did not seek permission for the journey claiming the area was an international water way the government said the icebreaker was needed to back up the country s claim of sovereignty in the arctic reuter 
acq	pantry inc inb talks on being acquired privately held pantry inc which operates convenience stores in five southeastern states said it has engaged alex brown and sons inc absb to explore a possbile sale of the company it said it expects to start talks with prospective acquirers shortly the company said it has been approached by a number of parties in recent months reuter 
earn	congress video group inc cvgi rd qtr net qtr ends dec shr profit three cts vs loss three cts net profit vs loss revs vs avg shrs vs nine mths shr loss cts vs profit cts net loss vs profit revs vs mln avg shrs vs note net includes tax gain carryforward from discontinued operations of master s merchandise group in year prior reuter 
acq	renouf corp to proceed with benequity bh bid renouf corp of new zealand said it has decided to proceed with its offer for all outstanding units of benequity holdings at dlrs per unit the company had been required to redice by march two whether to proceed with the offer or terminate it based on its ability to obtain financing and on its review of benequity operations the offer is to expire march reuter 
earn	thunander corp thdr year net shr cts vs cts net vs sales mln vs mln note results include operations of bmd of new england inc acquired sept reuter 
earn	final trust for thrift institutions payout set massachusetts financial services co said it has set the final income and capital gain distributions for trust for thrift institutions high yield series of dlrs and dlrs respectively payable today reuter 
earn	rospatch to respond to diagnostic bid 
earn	franklin insured tax free sets payout mthly div cts vs cts prior pay march record march note franklin insured tax free income fund reuter 
earn	franklin minnesota insured sets payout mthly div cts vs cts prior pay march record march note franklin minneosta insured tax free income fund reuter 
earn	franklin michigan insured sets payout mthly div cts vs cts prior pay march record march note franklin michigan insured tax free income fund reuter 
earn	franklin massachusetts insured cuts payout mthly div cts vs cts prior pay march record march note franklin massachusetts insured tax free income fund reuter 
earn	franklin california tax free sets payout mthly div cts vs cts prior pay march record march note franklin california insured tax free income fund reuter 
earn	diagnostic products dpcz sees earnings growth diagnostic products corp president and chief executive officer sigi ziering said he expects to maintain the same compound average annal net income growth in as the company has for the past five years we expect the same performance in net income over the next five years as we have had in the past ziering said over the past five years ziering said the company has had average compound net income growth of pct annually with a pct per year growth in earnings per share for the company had net income of mln dlrs or dlrs per share vs mln dlrs or cts per share in diagnostic manufactures medical immunological diagnostic test kits ziering said he expects the earnings growth to result from positive effect of the weaker dollar on the company s exports sales as well as accelerated market penetration ziering said he expected the food and drug administration to approve three more of its drug abuse test kits by the end of the year which depending on approval should also help earnings growth ziering said as a result of the new tax laws he expected the company s taxes to decrease by five pct to pct of net income in reuter 
earn	dunkin donuts inc dunk st qtr jan net shr cts vs cts net vs revs mln vs mln reuter 
earn	ccr video corp cccr st qtr nov net shr profit two cts vs loss cts net profit vs loss revs vs reuter 
earn	franklin puerto rico tax free sets payout mthly div cts vs cts prior pay march record march note franklin puerto rico tax free income fund reuter 
earn	franklin ohio insured tax free sets payout mthly div cts vs cts prior pay march record march note franklin ohio insured tax free income fund reuter 
earn	franklin high yield tax free sets payout mthly div cts vs cts prior pay march record march note franklin high yield insured tax free income fund reuter 
acq	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 
crude	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 
acq	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 
earn	green tree acceptance inc gnt sets dividend qtly dividend cts vs cts pay march record march reuter 
acq	rospatch corp rejects offer from diagnostic retrieval systems inc 
acq	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 
acq	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 
earn	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 
trade	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 
earn	albertson s inc abs raises qtly dividend shr cts vs cts pay may record may eight reuter 
acq	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 
acq	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 
earn	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 
earn	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 
acq	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 
acq	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 
earn	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 
acq	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 
acq	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 
earn	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 
acq	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 
earn	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 
acq	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 
acq	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 
earn	glamis gold ltd glgvf six mths dec net shr cts vs cts net vs revs vs reuter 
acq	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 
earn	little prince productions ltd ltlp st qtr loss qtr ended dec shr profit nil vs loss nil net profit vs loss revs vs reuter 
acq	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 
acq	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 
acq	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 
acq	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 
earn	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 
earn	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 
earn	peoples bancorporation peop quarterly dividend qtly div cts vs cts pay april record march reuter 
earn	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 
earn	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 
earn	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 
earn	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 
acq	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 
crude	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 
acq	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 
earn	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 
earn	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 
earn	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 
acq	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 
earn	petrolite corp plit sets payout qtly dividend cts vs cts pay april record april reuter 
crude	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 
acq	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 
earn	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 
acq	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 
acq	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 
earn	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 
earn	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 
acq	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 
acq	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 
acq	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 
earn	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 
acq	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 
ship	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 
earn	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 
earn	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 
earn	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 
earn	bank of new england corp bkne qtly dividend qtly div cts vs cts prior pay april record march reuter 
earn	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 
crude	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 
earn	cra ltd net profit mln dlrs vs mln 
acq	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 
earn	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 
earn	comalco ltd net profit mln dlrs vs loss mln 
earn	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 
trade	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 
earn	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 
interest	major swiss banks raise customer time deposit rates point to three pct credit suisse 
interest	corrected major swiss banks raise customer time deposit rates point to pct credit suisse 
money-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 
acq	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 
crude	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 
earn	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 
earn	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 
trade	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 
trade	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 
crude	mobil plan to open peking office china daily says mobil corp mob n of the u s plans to open an office in peking to develop oil exploration opportunities in china the china daily said it quoted mobil president richard tucker currently in peking as saying he is optimistic about investment prospects in china and that peking will continue to encourage foreign private businesses to invest here it said mobil bought mln dlrs of crude oil and oil products from china in and sold it lubricant and fertiliser but gave no more details reuter 
acq	klm to take pct stake in air uk klm royal dutch airlines klm a said it agreed to take a pct stake in air u k ltd a subsidiary of british and commonwealth shipping plc bcom l in a transaction worth around two mln stg a klm spokesman said klm already cooperated closely with air uk which runs flights a week to amsterdam s schipol airport from nine uk cities british and commonwealth shipping said last week it held preliminary talks about a klm minority stake in air u k but gave no further details klm said it hoped the move would attract more british feeder traffic to amsterdam airport reuter 
acq	ultramar sells u k marketing units for mln stg ultramar plc umar l said it had reached agreement in principle to sell its wholly owned u k marketing companies to kuwait petroleum corp for around mln stg ultramar s marketing units include ultramar golden eagle ltd which in made a profit of around mln stg before financing and group administration charges a small loss was recorded for the first nine months of the sale is due to take place on april with the proceeds intended to reduce group debt in the short term but ultramar said the funds would ultimately be used for further development of its core businesses in the u k and north america reuter 
acq	woolworth underwoods fail to agree on bid underwoods plc said it had not been possible to agree terms on a bid to be made by woolworth holdings plc wluk l during talks the two companies had been holding exploratory discussions no spokesman for either company was immediately available to say why terms could not be agreed nor whether the possibility of a bid was now being abandoned last week underwoods shares rose p to p ahead of any announcement of the talks the announcement today brought them back down to p from last night s close at p woolworth was unchanged at p reuter 
crude	mobil plans to open office in peking mobil oil corp of u s plans to open an office in peking to develop oil exploration opportunities in china the china daily said it quoted mobil president richard tucker currently in peking as saying he is optimistic about investment prospects in china and that peking will continue to encourage foreign private businesses to invest here it said mobil bought mln dlrs of crude oil and oil products from china in and sold it lubricant and fertiliser but gave no more details reuter 
earn	unilever plc and nv combined pre tax profit billion stg vs mln 
crude	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 
earn	unilever plc and nv th qtr to dec london march unilever plc share p vs p making p vs p for full year unilever nv share guilders vs guilders making guilders vs guilders unilever plc final div p making p vs p unilever nv final div guilders making guilders vs guilders combined pre tax profit mln stg vs same making billion stg vs mln the two companies proposed a five for one share split combined fourth quarter pre tax profit billion guilders vs billion making billion guilders vs billion operating profit mln stg vs mln making billion stg vs mln tax mln stg vs mln making mln vs mln tax adjustments mln stg credit vs nil making mln stg credit vs three mln debit attributable profit mln stg vs mln making mln vs mln full year turnover billion stg vs billion reuter 
acq	hk hotels soars on takeover speculation the price of hongkong and shanghai hotels ltd shlh hk s stock soared on speculation of a takeover battle between major shareholders the kadoorie family and the evergo industrial enterprise ltd evgh hk group stock brokers said they noted heavy buying in hk hotel shares after an announcement by evergo s china entertainment and land investment co ltd unit that it bought about pct of hk hotels from the firm s deputy chairman david liang for billion dlrs the stock rose h k dlrs to dlrs today thomas lau evergo s executive director declined comment on whether the group is seeking a further stake in hk hotels but he told reuters the group will hold the pct stake bought from liang as long term investment he said evergo was attracted by the underlying strength of hk hotels analysts said evergo may be looking for a possible redevelopment of the peninsula hotel one of asia s best known hotels and another site on hong kong island both are owned by hk hotels lai sun garment co ltd yesterday said it acquired a pct stake in hk hotels from liang for mln dlrs lau denied any link between china entertainment and lai sun on their acquisitions of the hk hotels stake it is purely coincidence he said but analysts were not so certain saying that the evergo group which has a reputation as a corporate raider may team up with lai sun garment for a takeover lau also denied any contact with the kadoorie family which analysts estimate has more than pct of hk hotels michael kadoorie is chairman of hk hotels lau said two representatives of evergo will be nominated to the hk hotels board a source close to the kadoorie family said the family has not considered any countermoves so far analysts said it would be difficult for evergo and the kadoorie family to cooperate because of different management styles evergo may want to split up the hotel management and property developments of hk hotels but that strategy may not fit the conservative kadoorie family said an analyst who asked not to be named another analyst noted the price of hk hotels had been distorted by the takeover talks because its net asset value is only worth about dlrs a share the offers by evergo and lai sun were for dlrs a share though that is well below the current trading price trading was suspended today in shares of lai sun evergo china entertainment and the group s associate chinese estates ltd chinese estates lost cents to dlrs yesterday china entertainment five to dlrs and evergo one to cents lai sun gained cents to dlrs reuter 
acq	bryson pays mln dlrs for cenergy corp stake bryson oil and gas plc said it paid a cash consideration of around mln dlrs for about pct of cenergy corp a u s oil and gas exploration and production company bryson said its board has been considering a number of possible investments to expand the company s interests and believes the opportunity to acquire an investment in cenergy provides a suitable extension to its existing u s interests cenergy reported a net loss of mln dlrs in the nine months to september while total stockholders equity on the same date was mln dlrs reuter 
earn	ashton tate tate th qtr net shr cts vs cts net mln vs revs mln vs mln avg shrs mln vs mln year shr dlrs vs cts net mln vs mln revs mln vs mln avg shrs mln vs mln note share adjusted for january two for one split reuter 
ship	neither side optimistic on rotterdam port issues employers and the port union fnv are to meet again this afternoon to attempt a settlement of the six week old dispute in rotterdam s general cargo sector but neither side is optimistic spokesmen for both sides told reuters little progress was made in last night s three hours of talks with both sides largely reiterating their positions there is still a very large gap between the employers and the fnv and i can t say that we expect to reach any agreement but at least we are still talking a union spokesman said employers organization chairman jacques schoufour accused the fnv of intransigence in refusing to alter its stance at all over the past two months the fnv is not serious about our discussions and i am really not optimistic about it changing its point of view at all if we find this afternoon that the fnv still refuses to accept the necessary redundancies in the general cargo sector then we will break off the talks and the redundancies may begin later this month schoufour said the series of strikes which employers say has cost them more than seven mln guilders in lost import business in the past six weeks began on january in protest at plans for redundancies from the sector s workforce starting with this year late last month social affairs minister louw de graaf said unless the dispute was settled by yesterday he would withdraw the sector s mln guilder annual labour subsidy both sides wrote to the minister yesterday setting out their cases but schoufour said he did not expect to hear from him before wednesday at the earliest reuter 
earn	unilever improves in most sectors during the unilever plc and nv un a group saw improved performance in almost all sectors during the anglo dutch group said in its results statement very good progress was made last year while the recent acquisition of chesebrough pond s inc cbm n was a significant addition which will greatly benefit the group in the years to come earlier unilever reported combined fourth quarter pre tax profit of mln stg level with the year earlier period making billion stg compared with mln for the full year unilever said it plans to change its depreciation policy to the more conventional practice of depreciating assets individually rather than depreciating fixed assets at average rates the new method is expected to lead to a reduction in the accumulated provision for depreciation and thereby increase the net book value of tangible asssets by about mln stg as at january unilever plc shares are up p since yesterday at p in buoyant response to the results and share split proposal though profits were not ahead of market forecasts dealers added reuter 
earn	burlington coat factory warehouse corp bcf net jan end shr dlrs vs dlrs net mln vs mln revs mln vs mln reuter 
acq	greenwood resources grrl sells company stake greenwood resources inc said it has sold its common share majority holding in new london oil ltd of london to an affiliate of guinness peat group plc of london and an affiliate of sidro sa of belgium for a total of dlrs in cash the company said it will apply the proceeds of the sale to support its line of credit and as part of a proposed debt restructuring with colorado national bancshares colc and greenwood shareholders it said it will retain a seat on the new london board reuter 
earn	f w woolworth co th qtr shr dlrs vs dlrs 
acq	heinz interested in buying guinness brewing h j heinz hnz n chairman tony o reilly would be interested in buying guinness plc guin l s brewery division if it were for sale a spokesman said the spokesman reacting to irish and british press reports said he continues to be interested were the group to offer the brewery side of guinness for sale but he has not put together a consortium nor has he been buying shares he was quoted by the irish magazine business and finance as saying he would be interested if it came on the market and that he had the support of two international banks if he decided such a purchase might be worthwhile in the magazine article he suggested that if brewing profits were calculated to be in the region of mln punts the asking price would not be higher than mln punts a multiple of ten times earnings would be the top whack for the brewing division in the current guinness situation he said this would mean an expensive exercise right on the edge but not impossible he added the deal would mean buying the dublin london nigerian and malaysian breweries because it could only be sold as an integral unit if it was going to be sold at all o reilly said reuter 
earn	equatorial communications equa to have losses equatorial communications co said it expects to report losses of about mln dlrs for the fourth quarter and mln dlrs for the full year on revenues of about mln dlrs for the quarter and mln dlrs for the year equatorial said the losses will include a charge of about mln dlrs from costs associated with the restructuring of its business including adjustments to reflect the market value of transponders owned and leased by equatorial and other reserves for inventory receivables and excess facilities equatorial said the fourth quarter operating results will also include restructuring costs of about dlrs in addition to the mln dlr charge equitorial also said that as of march one it is operating in technical default under its lease of transponders on the galaxy iii satellite due to its inabiliuty to maintain agreed upon financial ratios it said it is in talks with the lessors in an attempt to restructure lease obligations further equitorial said it is in default of two other oblitations in connection with the purchase or lease of transponders as a result of cross default provisions equatorial said it has signed a memorandum of understanding for contel corp ctc to purchase mln dlrs of equatorial master earth stations micro earth stations and associated equipment and loan equatorial six mln dlrs over a six month period for repayment starting in december the company said conteol under the agreement would assume a portion of equatorial s rights and obligations under the galaxy iii transponder lease with burnham leasing on the occurrence of certain events equatorial said it would grant contel an option to buy about common shares at dlrs each equatorial said its understandings with contel are subject to equatorial s ability to restructure a significant portion of its obligations and to obtain concessions from lenders and lessors in particular under its galaxy iii transponder lease it said it hopes to finalize a contel agreement by april equatorial in earned dlrs after a dlr gain from early debt retirement on revenues of mln dlrs for the first nine months of the company lost dlrs on revenues of mln dlrs compared with a dlr profit after the early retirement gain on revenues of mln dlrs reuter 
earn	transamerica ta to have australian sale gain transamerica corp said it will have an after tax gain of about mln u s dlrs on the sale of its occidental life insurance co of australia ltd affiliate to pratt and co financial services pty ltd of melbourne for mln australian dlrs the sale was announced earlier today in australia proceeds will be used to enhance the growth of north american operations of its transamerica occidental life subsidiary the company said reuter 
acq	viacom international inc gets another new national amusements bid 
earn	f w woolworth co z th qtr jan net shr dlrs vs dlrs net mln vs mln sales billion vs billion avg shrs mln vs mln year shr dlrs vs dlrs net mln vs mln sales billion vs billion avg shrs mln vs mln note share data restated to reflect two for one stock split in may reuter 
trade	u s asks japan end agriculture import controls the u s wants japan to eliminate import controls on agricultural products within three years visiting u s under secretary of state for economic affairs allen wallis told eishiro saito chairman of the federation of economic organisations keidanren a spokesman for keidanren said the spokesman quoted wallis as saying drastic measures would be needed to stave off protectionist legislation by congress wallis who is attending a sub cabinet level bilateral trade meeting made the remark yesterday in talks with saito wallis was quoted as saying the reagan administration wants japanese cooperation so the white house can ensure any u s trade bill is a moderate one rather than containing retaliatory measures or antagonising any particular country he was also quoted as saying the u s would be pleased were japan to halve restrictions on agricultural imports within five years if the country cannot cope with abolition within three the spokesman said japan currently restricts imports of agricultural products a ban on rice imports triggered recent u s complaints about japan s agricultural policy reuter 
earn	firstcorp fcr sees gain on condemnation firstcorp inc said it weill report an after tax gain of dlrs or cts per share primary and cts fully diluted from the proposed condemnation and acquisition of a parking deck it operates by wake county the company said if it reinvested proceeds in a similar property within months the gain on the sale would be deferred for tax purposes reuter 
earn	national sea products ltd th qtr net oper shr cts vs cts oper net vs revs mln vs mln year oper shr dlrs vs cts oper net vs revs mln vs mln note qtr excludes extraordinary gain of dlrs or five cts share versus extraordinary loss of dlrs or shr nil in qtr note continued year excludes extraordinary gain of dlrs or cts share versus extraordinary gain of dlrs or cts share in prior year reuter 
acq	national amusements again ups viacom via bid viacom international inc said national amusements inc has again raised the value of its offer for viacom s publicly held stock the company said the special committee of its board plans to meet later today to consider this offer and the one submitted march one by mcv holdings inc a spokeswoman was unable to say if the committee met as planned yesterday viacom said national amusements arsenal holdings inc subsidiary has raised the amount of cash it is offering for each viacom share by cts to dlrs while the value of the fraction of a share of exchangeable arsenal holdings preferred to be included was raised cts to dlrs national amusements already owns pct of viacom s stock reuter 
earn	national fsi inc nfsi th qtr loss shr loss six cts vs profit cts net loss vs profit revs vs year shr loss cts vs profit cts net loss vs profit revs mln vs mln note year figures pro forma for purchase accounting adjustments resulting from march reeacquisition of company by its original shareholders before august initial public offering reuter 
earn	precambrian shield resources ltd year loss shr loss dlrs vs profit cts net loss vs profit revs mln vs mln note shr and net include dlr writedown on u s operations uneconomic coal operations and other mineral properties reuter 
earn	grease monkey holding corp gmhc year nov shr nil vs nil net vs revs vs reuter 
earn	acceptance insurance holdings inc acpt year oper shr profit dlrs vs loss dlrs oper net profit vs loss revs mln vs mln avg shrs vs note net excludes realized investment gains of dlrs vs dlrs net excludes dlr tax credit reuter 
earn	minstar inc mnst th qtr net oper shr loss cts vs loss cts oper net loss vs loss revs mln vs mln avg shrs mln vs mln year oper shr loss eight cts vs profit cts oper net loss vs profit revs mln vs mln avg shrs mln vs mln note operating net loss excludes income from discontinued operations equal to cts in the quarter and cts in the year compared with dlrs in the quarter and dlrs in the respective periods of operating net loss also excludes extraordinary charges of cts in the quarter and cts in the year operating net profit excludes an extraordinary gain of cts reuter 
earn	mark resources inc year loss shr not given loss mln revs mln note prior year results not given results include accounts of pct owned precambrian shield resources ltd acquired november reuter 
earn	transform logic toog revises results downward transform logic corp said it has revised downward its previously reported fourth quarter and year ended october results to reflect compensation expense for employee stock options the company said resolution of this disagreement with its auditors came as a result of securities and exchange commission involvement the company will amend its option granting procedure to conform to the sec decision which will eliminate future charges it added transform said its fourth quarter profit was revised to dlrs or two cts a share from the previously reported dlrs which left the company with a fiscal loss of dlrs or two cts a share instead of the reported dlrs profit reuter 
earn	american stores asc sees lower year net american stores co said it expects to report earnings per share of to dlrs per share on sales of slightly over billion dlrs for the year ended january the supermarket chain earned dlrs per share on sales of billion dlrs last year the company did not elaborate reuter 
earn	kasler corp kasl st qtr jan net shr profit three cts vs loss seven cts net profit vs loss revs mln vs mln reuter 
earn	unilever has improved margins volumes in unilever plc un a and nv group reported improvements in margins and underlying sales volume growth of five pct in after stripping out the effects of falling prices disposals and currency movements unilever plc chairman michael angus said he told reporters that volumes in north america increased some pct while european consumer goods rose about pct after being flat for some years much of the disposal strategy aimed at concentrating activities on core businesses had now been completed he noted but the process of acquisitions would go on with strategic acquisitions taking place from time to time he said the company earlier reported a pct rise in pre tax profits for to billion stg from mln previously in guilder terms however profits at the pre tax level dropped three pct to billion from billion angus said the recent purchase of chesebrough pond s inc cbm n for dlrs a share was unlikely to bring any earnings dilution however it would not add much to profits with much of the company s operating profits paying for the acquisition costs finance director niall fitzgerald added that while gearing debt to equity plus debt rose to about pct at end from pct last year this was expected to drop back to about pct by end the same divergence was made in full year dividend with unilever nv s rising pct to guilders and unilever plc s increasing pct to p approximately in line with the change in attributable profit angus said the prospectus for the sale of parts of chesebrough was due to be published shortly however he said that there was no target date for completing the process he also declined to say what sort of sum unilever hoped to realise from the operation beyond noting that chesebrough had paid around billion dlrs for stauffer chemical co which operates outside unilever s core activities in the u s organic growth from the lipton foods business considerable expansion in the household products business and in margarine had been behind the overall sales increase however he noted that the u s household products business had turned in a planned loss with fourth quarter performance better than expected despite the anticipated heavy launch costs of its surf detergents reuter 
acq	sara lee sle to buy pct of dim sara lee corp said it agreed to buy a pct interest in paris based dim s a a subsidiary of bic s a at a cost of about mln dlrs dim s a a hosiery manufacturer had sales of about mln dlrs the investment includes the purchase of newly issued dim shares valued at about mln dlrs and a loan of about mln dlrs it said the loan is convertible into an additional dim shares it noted the proposed agreement is subject to approval by the french government it said reuter 
trade	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 reuter 
earn	precambrian shield takes mln dlr writedown precambrian shield resources ltd earlier reporting a large loss against year ago profit said the loss was mainly due to a dlr writedown on its u s operations uneconomic coal and other mineral properties precambrian which is pct owned by mark resources inc said it took the writedown in accordance with new canadian insititute of chartered accountants guidelines for full cost method accounting by oil and gas companies precambrian earlier reported a loss of mln dlrs compared to profit of mln dlrs in the prior year reuter 
acq	scott s hospitality acquires capital food scott s hospitality inc said it acquired all issued shares of capital food services ltd of ottawa terms were not disclosed scott s said capital food had sales of more than mln dlrs and will continue to operate under its present name with existing management capital food provides food services to several ottawa institutions the company said reuter 
acq	video display vide to sell cable tv unit video display corfp said it has reached a tentiative agreement to sell its existing cable television business for undisclosed terms and expects to report a gain on the transaction the buyer was not named the company said it will redeploy its service assets into manufacturing and distribution it said the operations being sold accounted for about five pct of revenues for the year ended february and lost money reuter 
earn	intek diversified corp idcc th qtr net shr three cts vs three cts net vs revs vs year shr cts vs cts net vs revs mln vs reuter 
acq	community bank cbsi to make acquisition community bank system inc said it has entered into a definitive agreement to acquire nichols community bank for dlrs in common stock it said subject to approval by nichols shareholders and regulatory authorities the transaction is expected to be completed later this year reuter 
earn	pharmacia ab phab st year sales billion crowns vs billion profit after financial items mln crowns vs mln the results include a once off writedown of mln crowns for intangible assets mainly the know how paid for in the takeover of a number of high tech companies by the group pharmacia said earnings per share after real tax including the writedown crowns vs crowns earnings per share after real tax not including the writedown crowns vs earnings per american depository receipt adr according to u s accounting principles after real tax including the writedown crowns vs crowns earnings per adr according to u s accounting principles after real tax without the writedown crowns vs one adr represents pct of one b free share in pharmacia the board proposed a dividend of crowns vs reuter 
earn	pharmacia forecasts higher earnings pharmacia ab phab st forecast earnings after financial items of one billion crowns in vs mln last year on condition that exchange rates remained at their present parities sales would in such circumstances go up to six billion crowns from billion in it said a weakening dollar was mainly responsible for a five pct negative impact on sales during which the company blamed on currency movements last year s results were also badly hit by a once off writedown of mln crowns for intangible assets the company said mainly this represented the premium the group had paid for the know how of various high tech firms it had taken over the accounts also showed a financial deficit of billion crowns vs a deficit of mln which was covered partly by drawing down company liquidity to mln vs one billion and partly by increasing borrowing to billion vs mln pharmacia said the financial deficit was caused by it having used more funds than generated by group operations mainly because of the billion it paid in cash for shares in lkb produkter ab and the assets of intermedics intraocular inc reuter 
ship	mclean industries mii unit transers service mclean industries inc said its shipping subsidiary united states lines inc reached an agreement in principle to transfer its south american service to american transport lines inc a subsidiary of crowley maritime corp under the terms of the agreement united states lines will lease five vessels to american transport for months with an option to extend the period up to years the company said in return u s lines will receive a fixed payment and a percentage of revenues for at least three years and possibly as long as american transport utilizes its vessels and conducts trade in south america the company said the companies will consummate the transactions as soon as the required approvals are obtained mclean said reuter 
earn	first federal savings ffkz year net shr cts vs one dlr net vs assets mln vs mln deposits mln vs mln loans mln vs mln qtly div six cts vs six cts prior qtr pay april record march note net includes charges from accounting changes from one time expenses associated with a proxy contest and an increase in loan reserves first federal savings and loan association of kalamazoo is full name of company reuter 
earn	toll brothers inc tol st qtr jan net shr cts vs cts net vs revs mln vs mln note all amts reflect for stock split of company s common in form of pct stock dividend paid feb reuter 
earn	pillsbury co psy votes quarterly dividend qtly div cts vs cts prior qtr pay may record may reuter 
earn	berkshire gas co bgas pays regular qtlry div qtrly div cts vs cts pay april record march reuter 
earn	charming shoppes inc chrs th qtr jan net shr cts vs cts net mln vs mln revs mln vs mln year shr cts vs cts net mln vs mln revs mln vs mln reuter 
earn	pansophic systems pns splits stock for pansophic systems inc said it will split its stock two for one effective april two to shareholders of record march it also said it will pay a six cts per share dividend on the pre split shares a regular quarterly dividend on april two to shareholders of record march reuter 
acq	calmar clmi seeks to be acquired by kebo ab calmar inc said keboo ab of sweden which now owns about pct of calmark has approved the acquisition of remaining calmar shares at dlrs in cash at the request of the calmar board calmar said a special meeting of its board will be held march nine to form a special committee of directors not affiliated with kebo to evaluate the transaction kebo is in turn pct owned by investment ab beijar of sweden reuter 
acq	italy s bnl negotiating purchase of german bank italy s state owned banca nazionale del lavoro bnl said it is negotiating to buy a west german bank as part of its foreign expansion policy bnl president nerio nesi told a news conference the italian bank was currently involved in talks but declined to name the german institution he said the takeover move could be seen as bnl s reply to deutsche bank ag dbkg f which entered the italian market in december with the purchase of bankamerica bacn subsidiary banca d america e d italia nesi said bnl had also approved a mln dlr credit line to the soviet union aimed at enabling soviet companies to pay for italian imports he gave no further details bnl officials said the group had also decided to increase its activities in the soviet union by opening a representative office in moscow this month through its subsidiary sogecred which specialises in italian soviet trade reuter 
interest	fed expected to add temporary reserves the federal reserve is expected to enter the u s government securities market to add temporary reserves economists said they expect it to supply the reserves indirectly by arranging to two billion dlrs of customer repurchase agreements the fed may add the reserves directly instead via system repurchases federal funds which averaged pct yesterday opened at pct and stayed there in early trading analysts said the rate is under upward pressure partly from settlement of billion dlrs of five year treasury notes reuter 
earn	lsb industries inc lsb th qtr net shr profit five cts vs loss dlrs net profit vs loss mln revs mln vs mln avg shrs vs mths shr profit cts vs loss dlrs net profit vs loss mln revs mln vs mln avg shrs vs note primary earnings per share are based on the weighted average number of common and dilutive common equivalent shares outstanding during each period after accounting for preferred stock dividends the qtr and year includes a provision for restructuring costs related to the sale of its energy business and parts of its bearing business the qtr and year includes charges of and respectively for restructuring costs and operating losses which were charged against the previously provided accruals for restructuring costs the qtr and year includes deferred income taxes of and respectively year net includes operations of friedrich climate master inc which the company acquired in august for the full period while the comparable period for includes only operations from august to dec third qtr includes extraodinary tax gain of from early extinquishment of certain drafts payable reuter 
earn	gulf resources and chemical corp gre th qtr oper shr profit cts vs loss cts oper net profit vs revs mln vs mln year oper shr profit cts vs loss cts oper net profit vs loss revs mln vs mln notes operating net excludes loss dlrs or cts a share vs loss dlrs or dlrs a share in quarter and loss dlrs or cts a share vs profit dlrs or dlrs a share from discontinued operations loss from discontinued operations includes mln dlrs charge equal to cts a share to provide for additional liabilities resulting from the closure of lead zinc and silver mining smelting and refining business year operating net includes pre tax gain of mln dlrs equal to cts a share from pension plan termination and gain of mln dlrs or cts a share from reduction in deferred taxes effective jan company changed oil and gas accounting to successful efforts from full cost increasing year net mln dlrs or cts a share and increasing loss mln dlrs or cts a share the cumulative effect of the change was to decrease retained earnings at dec by mln dlrs reuter 
earn	pansophic systems inc pns rd qtr jan net shr cts vs cts net vs revs mln vs mln nine mths shr dlrs vs dlrs net mln vs mln revs mln vs mln reuter 
money-fx	former treasury official urges currency reforms former treasury official c fred bergsten said a new exchange rate system is needed to replace the fixed and flexible exchange rate systems which he said had not worked i prefer a move to target zones in which the major countries would determine ranges of pct within which they would pledge to hold their exchange rates by direct intervention and as necessary by changes in monetary and other policies bergsten now the director of the institute for international economics said in a statement to a house banking subcommittee the substantial correction of the exchange rate that has occurred since early is enormously welcome and should produce a sizeable reduction in the u s trade deficit this year and next but the imbalance will not fall much below billion dlrs on present policies so much more is needed he said reuter 
earn	knutson mortgage corp knmc sets quarterly qtly div cts vs cts prior pay april record march reuter 
earn	ford motor co of canada ltd th qtr shr dlrs vs cts 
earn	ausimont compo nv aus th qtr net shr cts vs cts net mln vs sales mln vs mln avg shrs mln vs mln year shr dlrs vs dlrs net mln vs mln sales mln vs mln avg shrs mln vs mln note translated at italian lire to dollar reuter 
acq	norton nrt to sell south african operations norton co said it has agreed to sell its remaining south african business norton co pty ltd to global mining and industrial corp of south africa for undisclosed terms the company said the unit accounts for less than two pct of norton revenues and is being sold because growing societal pressures in the united states and the unsettled situation in south africa had required a disproportionate amount of management tiome to oversee norton said the unit is profitable norton said it will provide the south afrcian unit with future technical support and products makde under that agreement will continue to be marketed under the norton trademark reuter 
earn	home federal of the rockies hrok th qtr loss shr loss dlrs vs profit cts net loss vs profit year shr loss dlrs vs profit cts net loss vs profit note home federal savings and loan association of the rockies net includes tax credits of dlrs in quarter and dlrs in year net includes pretax loan loss provisions of dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter 
acq	saatchi and saatchi buys cleveland consulting advertising agents saatchi and saatchi co plc sachy said it was buying cleveland consulting associates inc for an initial consideration of mln dlrs additional payments may be made annually through the year ending march to bring the total consideration up to pct of cleveland s average post tax profits in the last two years of the period the purchase of cleveland is a further step in saatchi and saatchi s fast growing consulting industry the company said it said its consulting operations now provide a platform for major future expansion for the months ended march cleveland had dlrs in pretax profits and forecasts one mln for at the saatchi and saatchi annual meeting today the company reported a particularly strong start to the current year with profits sharply higher than the same period last year saatchi and saatchi shares rose one pence on the cleveland announcement to p after yesterday s p close reuter 
acq	unilever s un chesebrough offers to sell bass chesebrough pond s inc recently acquired by a unit of unilever n v said it is offering to sell its bass shoe division as a result of an ongoing evaluation of the long term direction of its businesses the diversified maker of health and beauty aids said it acquired falmouth maine based g h bass and co in when the company reported annual sales of mln dlrs bass is known for its high quality casual shoes chesebrough said bass s sales exceeded mln dlrs reuter 
earn	continental gic sees net up from tax law continental corp said the fresh start provision of the tax reform act of may add to to earnings per share the insurance holding company had net earnings of mln dlrs or or per share in john loynes continental chief financial officer said the fresh start provision allowed the company to discount opening tax reserves to january which released deferred taxes into earnings loynes said the provision s potential benefit would decline gradually over the next four years during which time continental will pay mln to mln dlrs more in taxes loynes added however the higher taxes are not expecetd to have a significant impact on earnings reuter 
earn	ford motor co of canada ltd fc th qtr net shr dlrs vs cts net mln vs mln revs billion vs billion year shr dlrs vs dlrs net mln vs mln revs billion vs billion note pct owned by ford motor co f reuter 
earn	royal bank of canada st qtr shr cts vs dlrs 
earn	anitec image technology corp antc nd qtr net shr cts vs cts net vs sales mln vs mln avg shrs mln vs mln st half shr cts vs cts net vs sales mln vs mln avg shrs mln vs mln note share adjusted for three for two october stock split reuter 
earn	dasa corp dasa year net shr profit three cts vs loss cts net profit vs loss revs mln vs reuter 
acq	group trims material sciences msc stake an investor group led by central national gottesman inc a new york investment firm and its executive vice president edgar wachenheim said they cut their stake in material sciences corp to less than five pct in a filing with the securities and exchange commission the group said it sold material sciences common shares between feb and at prices ranging from to dlrs a share leaving it with shares or pct as long as the group s stake remains below five pct it is not required to disclose further dealings in material sciences common stock reuter 
interest	fed sets billion dlr customer repurchase fed says 
earn	adc telecommunications inc adct st qtr net periods ended jan shr cts vs cts net vs sales mln vs mln backlog mln vs mln reuter 
acq	tylan corp tyln to sell furnace product line tylan corp aid it has retained the investment banking firm kahn and harris to sell its furnace product line the company said it has already been contacted by several potential buyers in tylan s furnace product shipments in the u s represented mln dlrs of the company s total net sales of mln dlrs reuter 
earn	royal bank of canada st qtr jan net shr basic cts vs dlrs shr diluted cts vs dlrs net vs avg shrs mln vs mln loans billion vs billion deposits billion vs billion assets billion vs billion reuter 
interest	fed adds reserves via customer repurchases the federal reserve entered the u s government securities market to arrange billion dlrs of customer repurchase agreements a fed spokesman said dealers said federal funds were trading at pct when the fed began its temporary and indirect supply of reserves to the banking system reuter 
earn	supradur cos inc supd year net oper shr dlrs vs cts oper net vs sales mln vs mln note net excludes discontinued operations gain dlrs vs loss dlrs reuter 
earn	wallace computer services inc wcs nd qtr net shr cts vs cts net vs sales mln vs mln six mths shr dlrs vs dlrs net vs sales mln vs mln note periods end january and respectively reuter 
earn	american vanguard corp amgd year net shr cts vs cts net vs sales mln vs mln note th qtr data not available reuter 
earn	north american biologicals inc nbio th qtr oper shr one ct vs three cts oper net vs revs mln vs avg shrs mln vs mln year oper shr six cts vs cts oper net vs revs mln vs mln avg shrs mln vs note net excludes tax credits of dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter 
earn	omnicom group inc omcm th qtr net shr profit cts vs profit cts net profit vs profit revs mln vs mln mths shr loss cts vs profit dlrs net loss vs profit revs mln vs mln note in qtr ended the company recognized expenses of for restructing the combined operations of bbdo doyle dane bernbach and needham harper worldwide in august before tax gains these relate primarily to the conosolidation and elimination of duplicate facilities and staff for the year the provisions for mergers and restructuring expenses brought non recurring expenses to before tax gains of which represented merger costs and related to restructuring of the combine operations reuter 
earn	correction ashton tate item in torrance calif item ashton tate tate th qtr net please read quarter average shares as mln not mln reuter 
earn	royal bank canada sees higher loan losses royal bank of canada said it estimates loan losses at one billion dlrs a mln dlr increase over last year royal bank said it set its provisions given the continued debt servicing problems in the north american energy industry and the uncertain outlook for energy prices and also continued to add to its general provisions for loans to troubled borrower countries the bank s loan loss provision for the first quarter ended january rose to mln dlrs from mln dlrs in the year ago quarter the bank said non accrual loans net of provisions for loan losses totalled billion dlrs on january up from billion dlrs a year ago in reporting lower first quarter earnings chairman allan taylor said problems with credit quality particularly in loans associated with the energy sector continue to have a substantial adverse effect on the bank s earnings taylor said profitability of the bank s international operations remains weak reflecting resource related difficulties of private and public sector borrowers and unsatisfactory results from capital market activities taylor said it would be premature to speculate on the outcome of debt resturcturing negotiations with brazil or their potential impact on the royal bank the bank earlier reported first quarter profit fell to mln dlrs from mln dlrs a year ago reuter 
acq	pantera pant and pizza pza agree to merge pantera s corp said it agreed in principle to acquire pizza inn inc in a cash and stock transaction under terms of the proposed transaction each pizza inn share can be exchanged for either three dlrs in cash plus the lesser of shares of pantera s common stock or dlrs market value of pantera s stock or four dlrs in cash plus a unit consisting of one share of pantera s stock and a non transferrable right to receive up to share of pantera s stock under certain conditions it said completion of the transaction is subject to arrangement of financing negotiation of a definitive agreement and various regulatory approvals it said pantera s said pizza inn s largest shareholder f j spillman previously granted pantera s an option to buy more than one mln shares of pizza inn common stock owned by him pantera s also said it retained drexel burnham lambert inc to act as its financial advisor in connection with the merger pizza inn has retained dean witter reynolds inc to act as its financial advisor pantera s said yesterday pantera s stock closed at dlrs on nasdaq while pizza inn s stock was quoted at dlrs when the amex halted trading pending the announcement of the proposed merger from its dallas headquarters pizza inn said completion of the transaction is subject to certain conditions including that the price of pantera s stock average not less than seven dlrs during the trading days before the merger under the agreement pizza inn said it will still be permitted to complete a leveraged buyout agreement with pizza inn acquiring corp which has been approved by its shareholders but is subject to otaining financing more 
earn	distributed logic corp dlog st qtr loss qtr ended jan shr loss nine cts vs profit cts net loss vs profit revs vs reuter 
acq	lifetime lft to buy shares of nippon lace lifetime corp said it agreed to buy five mln shares or pct of nippon lace co ltd for dlrs a share or mln dlrs it said it plans to enter the health care business in japan in addition it said koba electronics co ltd an affiliate of lifetime will buy four mln unissued shares or a pct stake of nippon for mln dlrs or five dlrs a share the company said ohta shoji chief executive officer of toho mutual life insurance co owns the majority of koba electronics shares toho mutual life is also the largest shareholder in nippon lace the company said lifetime also said the private bank and trust of zurich on behalf of lifetime director and shareholder terence ramsden intends to subscribe for two mln shares of nippon lace at the same price paid by lifetime reuter 
earn	intermedics inc itm st qtr net oper shr cts vs cts oper net vs revs mln vs mln avg shrs mln vs mln note prior qtr excludes loss or five cts per share for discontinued operations for the sale of subsidiaries intermedics intraocular inc electronics inc and intermedics infusaid inc excludes qtr operating loss carryforwards vs qtr prior reuter 
acq	beneficial corp to sell insurance unit removing company from insurance business 
earn	ford canada cuts annual dividend by six dlrs to six dlrs cash a share 
earn	paine webber residential realty inc pwm div qtrly cts vs cts pay march record march note prior qtr is for two months operation october and november and represents a parital dividend reuter 
earn	omnicom group omcm sets regular payout qtlry div cts vs cts pay april record march reuter 
earn	knutson mortgage knmc sees strong second qtr knutson mortgage corp said it expects strong earnings performance for its initial fiscal second quarter earnings ending march since going public in september albert holderson knutson chairman said he expects earnings of about cts per share for the quarter as a result of a strong mortgage business during the quarter knutson earlier declared a quarterly dividend of cts a share versus cts a share prior payable april to shareholders of record march reuter 
earn	intermedics inc itm st qtr feb one net oper shr cts vs cts oper net vs revs mln vs mln note current st qtr oper net excludes operating loss carryforward of or cts per share st qtr oper net excludes loss carryforward of dlrs or one ct per share and loss from discontinued operations of dlrs reuter 
earn	carme inc came nd qtr jan net shr nine cts vs one ct net vs sales vs six mths shr cts vs five cts net vs sales vs reuter 
earn	willcox and gibbs inc wg th qtr net shr cts vs cts net mln vs mln revs mln vs mln year shr dlrs vs dlrs net mln vs mln revs mln vs mln note net includes extraordinary gain of mln dlrs or cts per share in th qtr and mln or dlrs for the year reuter 
earn	omnicom group inc omcm th qtr net shr profit cts vs profit cts net profit vs profit mln revs mln vs mln qtly div cts vs cts avg shrs mln vs mln year shr loss cts vs profit dlrs net loss vs profit mln revs mln vs mln avg shrs mln vs mln note qtly div payable april six to holders of record march th qtr and year net includes a charge of mln dlrs and mln dlrs respectively for corporate restructuring reuter 
earn	ford motor co of canada ltd fc cuts annual div annual div six dlrs vs dlrs prior pay march record march note payout includes two dlrs a share extra dividend payout includes four dlrs a share extra dividend reuter 
earn	united healthcare corp unih th qtr net shr cts vs cts net vs revs mln vs mln avg shrs vs year shr cts vs cts net vs revs mln vs mln avg shrs vs note net income includes extraordinary profit from recognition of tax loss carryforward of dlrs or six cts a share in year and of dlrs or seven cts a share in both periods reuter 
earn	raytech corp ray th qtr dec net shr profit cts vs loss dlrs net profit vs loss revs mln vs mln year shr profit dlrs vs loss dlrs net profit vs loss mln revs mln vs mln note th qtr and yr includes loss carryfoward of dlrs and dlrs respectively reuter 
earn	datamag inc dmag st qtr dec loss net loss vs profit sales vs note per share data not available as company went public in january reuter 
earn	royal bank sees improved results royal bank of canada in reporting a pct drop in first quarter earnings said it expects to report improved results in future earnings periods healthy consumer credit growth record fee based income highly profitable securities and foreign exchange trading and a solid capital position combined with the restraint of non interest expenses should lead to improved results in the periods ahead chairman allan taylor said in a statement the bank earlier reported profit for the first quarter ended january fell to mln dlrs from mln dlrs a year ago taylor said loans to the energy sector continue to substantially hurt earnings while profitability of the bank s international operations remains weak reflecting resource related difficulties of private and public sector borrowers and unsatisfactory results from capital market activities the bank said earnings from domestic operations rose to mln dlrs in the first quarter from mln dlrs a year ago while earnings from international operations plunged to mln dlrs from mln dlrs last year royal bank said first quarter international net interest income declined from last year reflecting reduced revenues from international investment banking as well as a significant loss on disposal of its affiliate in trinidad and tobago other income rose to mln dlrs from mln dlrs last year the rise was due to higher commercial banking and retail deposit service fees and higher foreign exchange revenue but lower securities commissions from international investment bank operations partly offset the gains royal bank said the bank said a two billion dlr increase in total assets to billion dlrs was due mainly to continued growth in consumer lending particularly residential mortgages reuter 
trade	belgian says ec would react to textile bill belgian foreign trade minister herman de croo said if congress passed legislation curbing world textile imports the only way the european community ec could react was to retaliate de croo said at a news conference if you limit textile imports you will re orient textiles to europe and that he said would trigger ec taxes on u s goods congress passed a textile bill two years ago but it was vetoed by president reagan on grounds that curbing imports to protect the domestic textile industry would trigger retaliation u s trading partners a similar bill has been introducted this year in a congress with a bigger democratic majority and with a president weakened by the iran scandal de croo here for talks with administration officials and congressmen said if a textile bill passed the only way we could react would be retaliation and it would cause more retaliation which is not a good way to deal with problems he said if a textile bill was enacted we will impose taxes on a lot of american products he said it would be stupid we have to avoid that he said congressmen seem upset mosty with japan because of its massive trade suprlus with the united states and not with ec nations but ec nations will be hurt by the diverted shipments of asian textiles de croo also criticized the way u s officials try to solve ec trade issues saying each time we come in contact it a conflict contact the clouts are coming fom the west he said it then is a crisis atmosphere with officials cross the atlantic and dramatized with headlines this is not the way to work in a serious way between two big powers de croo said reuter 
earn	kay corp kay th qtr net oper shr cts vs dlrs oper net vs revs mln vs mln year oper shr dlrs vs dlrs oper net vs revs mln vs mln note oper net excludes results of kay jewelers inc a former subsidiary on dec company distributed remaining pct interest in subsidiary to kay corp holders amts restated in connection with company s distribution of investment in kay jewelers inc th qtr and yr oper net excludes dlrs or dlrs per share and dlrs or dlrs per share respectively for equity in net income of spun off unit th qtr and yr oper net excludes dlrs or dlrs per share and dlrs or dlrs per share respectively for equity in net earnings of spun off unit oper net also excludes or cts per share for adoption of new pension accounting rules and ine cts per share for gain from assets sales reuter 
trade	rostenkowski says he will oppose protectionist trade bill in u s house 
earn	pantasote inc pnt th qtr loss oper shr loss four cts vs loss cts oper net loss vs loss sales mln vs mln year oper shr profit cts vs loss cts oper net profit vs loss sales mln vs mln note net excludes extraordinary charges from provision for roofing products warranties and costs from sale of printing laminate division of dlrs vs mln dlrs in quarter and dlrs vs mln dlrs in year net excludes tax credits of dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter 
trade	rostenkowski opposes protectionist trade bill house ways and means committee chairman dan rostenkowski said congress must avoid a temptation to pass a protectionist trade bill this year in remarks prepared for delivery before the national press club rostenkowski d ill predicted major trade legislation will be sent to president reagan by the end of this year but he warned that his conciliatory message on the trade bill did not mean he would oppose a proposal that would warn other countries their access to the american market would be curtailed unless they opened their markets to u s goods complaints about foreign trade restraints are not a smoke screen for protectionism they a plea for fairness rostenkowski said it is only reasonable to ask the nations that have denied us access to open up in return for continued freedom in the american market he added however he said there would likely be changes in the market access proposal from the plan which cleared the house last year that plan would have set a specific time table for foreign countries to ease import restraints or they would face a pct cut in exports to the united states reuter 
acq	imtec imtc gets merger offer imtec inc said some shareholders of computer identics inc cidn have proposed a merger of the two companies the company said the shareholders had previously expressed dissatisfaction with computer identics management and had informed computer identics that the present board no longer had the support of a majority of shares held it said the shareholders had called for the resignation of all but one of computer identics directors and suggested that a new board pursue merger talks with imtec but imtec said no merger talks havew yet taken place reuter 
earn	kay jewelers inc kji th qtr net shr dlrs vs dlrs net mln vs revs mln vs mln year shr dlrs vs dlrs net vs revs mln vs mln reuter 
earn	wall street stocks anacomp inc aac anacomp inc one of the most actively traded nyse issues rose today as at least one analyst expected earnings to be boosted by its planned acquisition of a micrographics company anacomp rose to on volume of shares after trading as high as seven earlier howard harlow analyst at whale securities corp said anacomp s earnings for fiscal ending september could be doubled to cts a share from the cts a share he had forecast before anacomp agreed to buy datagraphix a micrographics firm from general dynamics corp gd the company can earn cts a share in fiscal maybe as much as a dlr a share because of datagraphix harlow said most of the benefit will be in the fourth qtr because it will integrate the company in the second half anacomp s earnings will be less if it has problems integrating datagraphix harlow said a spokesman at anacomp said the company expects to complete its deal for datagraphix later this month she would not say how much it will pay for datagraphix but noted that datagraphix contributed mln dlrs in earnings to general dynamics on revenues of mln dlrs in harlow said a fellow analyst at whale securities estimates that anacomp will pay between mln dlrs to mln dlrs for datagraphix the estimates on the street narrow it down to between mln dlrs and mln dlrs harlow added anacomp reported net of mln dlrs or nine cts a share in its first qtr ended december up from dlrs or one ct a share in anacomp s fiscal it earned dlrs or cts a share whale securities recommends buying the stock harlow said reuter 
acq	corrected lifetime lft to buy nippon lace sahres lifetime corp said it agreed to buy five mln shares or pct of nippon lace co ltd for dlrs a share or mln dlrs it said it plans to enter the health care business in japan in addition it said koba electronics co ltd an affiliate of nippon will buy four mln unissued shares or a pct stake of lifetime for mln dlrs or five dlrs a share corrects to show nippon s affiliate koba buying stake in lifetime reuter 
trade	u k exports body gets new executive director export credits guarantee department has named malcolm stephens director of export finance at barclay s bank plc and a former career civil servant at ecgd for years to the post of executive director a department spokesman said stephens replaces jack gill who is retiring early aged a drop in the ecgd s business volume and a rise in its debt to the exchequer have led to criticism in parliament in recent years stephens said the fall in business volume was a top convern adding that the department may have to compete more aggressively with private insurance firms providing similar services the department s annual report for the year ended march showed exports insured by the department fell to billion stg from billion the year before while its debt to the exchequer almost doubled to mln stg stephens said he had no specific list of changes but among his chief concerns was the weakened condition of lesser developed countries and their ability to pay for their imports the agency will have to review its policies on insuring export credits to lesser credits on a country by country basis he said large lump political risk insurance is the sort of thing we want to take a look at you have to try to look forward to see if you are simply in a peak and trough situation or it is a more long term thing stephens said in response to a qustion about whether ecgd will strike more countries from its list of political risk insurance recipients he noted that certain countries have already been removed from the list reuter 
acq	tender loving tlci staff staf extend pact tender loving care health care services inc said it and staff buildiers inc have extended the term of their merger agreement until may tender loving care also said norrell corp agreed not to acquire any additional staff builders shares until september adding norrell was paid dlrs for the standstill arrangement tender loving care said it agreed to buy the staff builders common held by norrell about pct of those outstanding for dlrs immediately prior to the consummation of the merger tender loving care said the extended merger agreement continues to provide for the exchange of of its shares for each staff builders share outstanding as announced february the staff builders shareholders meeting to vote on the merger originally convened and adjourned december will be reconvened on april tender loving care said its payment to norrell will include dlrs in cash and five mln dlrs of a new series of eight pct tender loving care convertible preferred tender loving care said it and staff builders have filed a revised registration and proxy statement with the securities and exchange commission upon clearance of the revised proxy statement by the commission and its distribution to staff builders shareholders that company s management will continue to solicit proxies for approval of the merger tender loving care said it will have the power to vote about pct of staff builders shares at the adjourned meeting with a spokesman explaining that this represents the proxies held by norrell which started buying the stock after the record date for the meeting in addition staff builders officers and directors own about pct of its stock and have agreed to vote in favor of the merger accordingly the vote of an additional pct of the outstanding shares will be required to approve the merger tender loving care said reuter 
acq	varian var in talks with philips electronics varian associates inc said it is holding discussions with philips electronics regarding the purchase of philips broadcast transmission unit in the united kingdom pye tvt limited pye tvt designs and manufactures broadcast transmission equimpment specializing in television frequencies reuter 
acq	butler btlr to sell part of unit butler manufacturing co said it agreed in principal to sell part of its controls division to enercon data corp of minneapolis terms of the sale were not disclosed the transaction expected to be closed in march involves the controls division s energy management and power line carrier product lines butler said costs associated with the sale were included in its restructuring charge taken in last year s fourth quarter and will have no effect on its earnings reuter 
earn	fertility and genetics research baby st qtr periods ended december shr loss cts vs loss seven cts net loss vs loss revs vs reuter 
trade	rostenkowski reluctant to back tax hike house ways and means committee chairman dan rostenkowski said he would be reluctant to back the tax increase if it did not have president reagan s support he told a national press club luncheon there would be a number of tax proposals that could be debated if reagan sought a tax increase to help balance the budget however he said he would prefer to leave the tax rates enacted in last year s tax reform bill unchanged there have been calls in congress to hold the rates at the level rather than allow them to fall next year reagan proposed billion dlrs in revenue as part of his budget proposal but it did not include general tax increases on trade issues rostenkowski said he did not expect the major trade bill this year would single out any u s industry for special protection to go after individual items in a trade bill is suicide he said this apparently ruled out congressional approval of another textile trade bill to limit quotas on textile imports as was proposed again this year reuter 
acq	magellan corp sets merger with balzac magellan corp said it has entered into a letter of intent to acquire balzac investments inc in a transaction that will result in former balzac shareholders owning about pct of the combined company the company said on completion of the merger the combined company wopuld be known as power cell inc and be engaged in the development of balzac technology related to its quick charge product for charging auto batteries the transaction is subject to approval by shareholders of both companies reuter 
earn	united cos financial corp uncf th qtr net shr cts vs cts net vs revs mln vs mln avg shrs vs year shr dlrs vs dlrs net mln vs revs mln vs mln avg shrs vs reuter 
earn	bristol myers co bmy sets quarterly qtly div cts vs cts prior pay may one record april three reuter 
acq	american aircraft corp buys private firm american aircraft corp said it has acquired a pct interest in privately held hunter helicopter of nevada inc the purchase was made for an undisclosed amount of american aircraft stock the company said it said the acquisition will increase shareholder equity in american aircraft to cts per share from cts per share hunter helicopter builds two passenger helicopters that retail for about dlrs reuter 
earn	aid corp aidc raises quarterly dividend qtly div nine cts vs eight cts in prior qtr payable march record march reuter 
acq	international technology itx makes acquisition international technology corp said it has purchased western emergency services inc in a pooling of interests transaction international technology a hazardous materials management company said it purchased western emergency an environmental services firm to offer a broader range of environmental services to the gulf coast area reuter 
earn	d h howden and co ltd increases dividend semi annual cts vs cts prior pay june record june reuter 
earn	co steel inc th qtr net oper shr cts vs cts oper net vs revs mln vs mln avg shrs mn vs mln year oper shr dlrs vs cts oper net vs revs mln vs mln avg shrs mln vs mln note qtr shr and net exclude tax gain of dlrs or cts share versus gain of dlrs or dlrs share year shr and net exclude tax gain of dlrs or cts share versus gain of dlrs or dlrs share reuter 
earn	willcox and gibbs inc wg th qtr net oper shr cts vs cts oper net vs sales mln vs mln avg shrs vs year oper shr dlrs vs dlrs oper net vs sales mln vs mln avg shrs vs note operating net excludes gains of dlrs or cts a share in quarter and dlrs or dlrs a share in year from tax carryforwards reuter 
earn	ge ge profit outlook aided by engine order one of general electric co s biggest businesses aircraft engines will ride a wave of increasing profits into because of a new contract worth mln dlrs wall street analysts said previously it was expected the business would peak and decline at some point in the next five years the improved outlook results from amr corp s amr decision to order new planes powered by cf c ge engines creative financial footwork helped ge get the order said nicholas heymann analyst at drexel burnham lambert inc amr declined to go into detail on financing arrangements for its order of boeing co ba and airbus industrie twinjet long distance aircraft but amr said it was using rent a plane leases that allow it to operate the aircraft without adding to its debt structure amr also has the right to decline delivery of the planes or return them on short notice the arrangement protects amr in the case of an unexpected development such as a severe downturn in the economy from ge s point of view the package looks like a good deal for several reasons heymann said ge will be able to record revenue as a sale at the time of delivery heymann noted and if for some reason amr decides not to take the planes ge s financial arm general electric financial services inc would have little trouble rounding up another airline that wanted the fuel efficient planes on the whole the deal appears to pose little risk for ge heymann said ge s stock declined to on shares by midafternoon h p smith analyst at smith barney harris upham and co said for a billion dlr revenue company no one order will have much of an effect on the stock russell leavitt analyst at salomon brothers inc said the order will help to maintain a good level of production and profitability in the aircraft engine business for ge heymann sees operating profits from ge s jet engine business rising from mln dlrs last year to billion dlrs by revenue from jet engines was close to six billion dlrs last year with well over half of the business in the military sector according to analysts estimates the rosy outlook for ge s jet engine business coincides with an upbeat performance in other segments heymann expects ge to earn dlrs per share in the first quarter of saying many will be suprised by the results he believes ge has shown through its acquisition of rca corp that it has a unique ability to buy a major business and reshape it pruning some parts and recombining parts with other elements of its business areas smith sees ge earning dlrs per share in the current quarter he credits good results at rca in turn aided by the nbc broadcasting operation and lower interest rates leavitt sees dlrs for the current quarter in part crediting significant benefits from the rca acquisition reuter 
earn	buckhorn inc bkn th qtr loss oper shr loss dlrs vs profit cts oper net loss vs profit revs mln vs mln avg shrs vs mths oper shr loss dlrs vs profit cts oper net loss vs profit vs revs mln vs mln avg shrs vs note prior qtr excludes loss or seven cts per share for discontinued operations qtr excludes extraodinary loss excludes loss or cts per share for and gain or cts per share for for discontinued operations excludes loss for net for extraordinary item reuter 
earn	buckhorn inc bkn sees higher profits in buckhorn inc said itd nine million dlr backlog for orders and a less expensive operating environment should yield significant levels of operating profits for buckhorn a manufacturer of reusable plastic shipping and storage containers recorded or dlrs per share operating net loss for buckhorn said the year s results included a non recurring expense incurred to complete major restructuring efforts and to defend against the hostile tender offer from ropak corporation reuter 
earn	ccr video st qtr nov net shr cts vs nil net vs sales vs reuter 
earn	del e webb investment dwpa th qtr net shr eight cts vs cts net vs revs vs year shr cts vs cts net vs revs vs del e webb investment properties inc reuter 
earn	f w woolworth s z profits rise pct the specialty retailing area continues to pay off for f w woolworth co once known only as a five and dime store chain which said its income rose pct it was the fourth consecutive year of profit increases for the new york based retailer which was founded over years ago woolworth s income rose to mln dlrs or dlrs per share compared with s profit of mln or dlrs per share revenues for the year rose to billion compared with the prior year s billion for the fourth quarter the company reported profits rose pct to mln dlrs or dlrs per share compared with fourth quarter results of mln or dlrs per share revenues rose to billion from billion dlrs roy garofalo woolworth vice president told reuters that income generated by the company s specialty store operations accounted for pct of the parent company s profits he said the company now has specialty stores operating under different names woolworth plans to open more specialty stores in at this time last year it operated specialty stores garofalo said garofalo said the largest specialty chain operated by woolworth is kinney shoe stores followed by the richman apparel unit among other units are little folk shop a chain of discount children s apparel stores the rx place a discount drug health and beauty aid operation and face fantasies which sells cosmetics there are currently about woolworth general merchandise stores operating worldwide of which are in the united states harold sells chairman and chief executive of woolworth said in a statement these results are especially gratifying as they are an improvement over last year s record earnings sells that it was the fourth successive year earnings in each quarter improved over the corresponding year earlier period woolworth s variety store operations were hard hit in the s and early s by the quickly growing discount store industry in an attempt to compete in the s woolworth opened a discount general store chain woolco and j brannam a discount apparel chain both were failures in the united states although woolco still operates in canada in however woolworth changed its strategy and announced that it would operate specialty stores at that time the company said it would create new groups of such stores specialty stores generally have higher sales per square foot than general merchandise stores reuter 
earn	royal resources corp rrco nd qtr dec loss shr loss cts vs loss dlrs net loss vs loss revs vs six mths shr loss cts vs loss dlrs net loss vs loss revs vs reuter 
acq	american aircraft buys into helicopter builder american aircraft corp said it has acquired a pct interest in privately owned hunter helicopter of nevada inc for an undisclosed amount of stock an american aircraft official said the company has an option to acquire the remaining pct hunter helicopter is in the business of building a two passenger helicopter retailing for about dlrs each which is certified by the federal aviation administration the helicopters will be manufactured in american aircraft s uvalde texas plant it added reuter 
earn	premier industrial corp pre regular dividend qtly div cts vs cts in prior qtr payable april record march reuter 
acq	international technology itx buys firm international technology corp said it has purchased privately held western emergency service inc in a stock transaction western emergency an environmental services firm has annual sales of between one and two mln dlrs compared to international technology s roughly mln dlr annual sales a spokesman for international technology said reuter 
earn	continental general insurance cgic th qtr net shr cts vs cts net vs year shr cts vs cts net vs note full company name is continental general insurance co net includes profit from sale of securities of dlrs or four cts a share and dlrs or five cts a share respectively in qtr and year and of dlrs or nil per share in qtr net for year includes loss from sale of securities of dlrs or eight cts a share reuter 
earn	margaux controls inc margx rd qtr loss shr loss dlrs vs loss cts net loss vs loss revs vs nine mths shr loss dlrs vs loss cts net loss mln vs loss revs vs mln note current periods include loss of mln dlrs from discontinued operations reuter 
earn	merchants group inc mrch th qtr oper net oper shr profit cts vs loss dlrs oper net profit vs loss revs mln vs mln year oper shr dlrs vs loss dlrs oper net profit vs loss revs mln vs mln note th qtr and yr oper net exclude realized investment gains of dlrs and dlrs respectively which includes provision for income taxes of dlrs and dlrs for the periods respectively th qtr and yr oper net exclude dlrs or cts per share and dlrs or dlrs per share for net operating loss carryovers th qtr and yr oper net exclude realized investment gains of dlrs and dlrs respectively reuter 
earn	continental general cgic sets stock dividend continental general insurance co said its board of directors declared a pct stock dividend on common shares payable april one to shareholders of record march the company yesterday paid a quarterly cash dividend of cts a share unchanged from the previous quarter to shareholders of record february reuter 
earn	margaux controls inc margx rd qtr dec loss shr loss dlrs vs loss cts net loss vs loss revs vs nine mths shr loss dlrs vs loss cts net loss mln vs loss revs vs mln note net losses inlcude dlr charge from discontinued operations of building management system sold to cetek system inc on jan reuter 
acq	harris cuts stake in bell industries bi harris associates l p a chicago investment advisory limited partnership said it lowered its stake in bell industries inc to shares or pct of the total outstanding from shares or pct in a filing with the securities and exchange commission harris said it sold bell common shares between dec and feb at prices ranging from to dlrs each harris said its dealings in bell stock are on behalf of its advisory clients reuter 
acq	goodyear gt chairman criticizes corporate raids the chairman of goodyear tire and rubber co a concern that survived a recent hostile takeover bid charged that terrorists in three piece suits are undermining the nation s industrial base in a speech to a meeting of south florida business executives goodyear chairman robert mercer lashed out at corporate raiders and takeover specialists accusing them of causing serious harm to the companies they target their interest is not in preserving and strengthening america s industrial and providing jobs he said their product is simply deals and that is not a product which a country can base a future on last year mercer fought off a takeover attempt by british industrialist sir james goldsmith but goodyear s independence was preserved at a high price mercer said the company bought back goldsmith s stock for mln dlrs giving him a mln dlr profit goodyear also paid him mln dlrs for expenses and bought about mln other shares for over two billion dlrs in an effort to trim its new debt goodyear closed down three plants mercer believes otherwise could have been saved sold its motor wheel and aerospace units and reduced its payroll by pct he said mercer who plans to testify tomorrow at a senate hearing on a proposed bill to control corporate raiders said hostile takeovers have also hurt workers reuter 
earn	tiverton petroleums ltd nine mths dec net shr six cts vs five cts net vs revs vs reuter 
earn	mca inc mca sets regular qtrly payout qtrly div cts vs cts prior pay april record march reuter 
grain	soviet grains seen entering spring on shaky note soviet winter grains could be off to a faulty start this spring after enduring an usually dry fall and cold winter weather and crop analysts said prospects for another near record grain harvest in the soviet union appear dim at this point but it is premature to forecast any major crop problems analysts said but the situation bears careful watching over the next six weeks and will ultimately impact the soviet grain supply and future buying plans analysts of the soviet union said from a weather standpoint you can say with certainty that the soviets are not getting off to a good start and will have a lower crop than last year gail martell chief meteorologist for e f hutton said the next six weeks in the ussr s grain growing areas will be the crucial period that will determine the final outcome of the winter crops martell and other analysts said where the crop is really made or broken is still ahead of us an agriculture department authority on the ussr said the soviet union recently reported that nine mln hectares of winter grain will have to be reseeded due to winterkill this would be equal to about pct of the total winter crop and would be the second highest winterkill in ten years the usda analyst said with a timely spring soviet farmers would probably be able to reseed the damaged acreage with spring crops but analysts noted that spring crops normally yield lower than winter crops sometimes as much as pct lower normally winterkill is caused by inadequate snowcover combined with cold temperatures this winter however snowcover in soviet grain areas has generally been excellent so the bulk of winterkill analysts speculate likely has been due to a very dry fall and subsequent poor crop germination fall dryness may be a problem there s a good correlation between mediocre crops and fall dryness martell said precipitation last fall was as little as pct of normal in southern and northern ukraine and below normal over the entire winter crop area she said recent cold temperatures in grain areas in which the snowcover has been gradually melting could also have caused problems of ice crusting and winterkill jim candor senior forecaster for accu weather said livestock feed needs have probably increased because of the fall and winter analysts said the dry fall damaged pastures the cold winter raised feed demands and a late spring would require longer off pasture feeding they said the soviets are not in a desperate situation they don t have to buy grains now a usda official said but if the soviets are worried about their winter crops and if they feel that last year s huge crop of mln tonnes was a one time fluke brought on by perfect conditions more soviet buying might occur to insure crop supplies he said bad weather during the next six weeks could push the soviets back into the market weather analysts said a lot of winterkill could occur during the next month and a half martell said reuter 
earn	royal resources corp rrco nd qtr dec loss shr loss cts vs loss dlrs net loss vs loss revs vs avg shrs vs first half shr loss cts vs loss dlrs net loss vs loss revs vs avg shrs vs note losses include charges of mln dlrs in both periods vs mln dlrs in both periods for write down of oil and gas properties reuter 
acq	hanson trust han completes kaiser purchase hanson trust plc said kaiser cement shareholders today approved the previously announced merger agreement making kaiser cement an indirect wholly owned unit of hanson trust hanson said that promptly following the filing of the certificate of merger kaiser cement common shares will be delisted from the new york stock exchange hanson also said in accordance with the merger agreement kasier cement also has redeemed all outstanding shares of its dlr convertible preferance stocks and its outstanding pct convertible debentures due the acquisitions total purchase price including cost of financing the above mentioned redemptions will be about mln dlrs hanson said reuter 
crude	oil prices rise on saudi effort crude oil prices rallied today moving over dlrs a barrel because of saudi arabia s determined effort to support prices analysts said the saudis and other opec nations are jawboning the market hoping to restore confidence and prices and to do this without another meeting said sanford margoshes oil analyst with shearson lehman brothers inc but opec is not out of the woods yet by a longshot due to seasonal declines in demand and some cheating he added oil industry analysts said saudi arabia has led the attempt to get other opec members to resist pressures to discount from the official prices agreed to last december the analysts said that to get others to hold the line saudi arabia pushed hard at the meeting of deputy oil ministers of the gulf cooperation council last weekend and at the cooperation council oil ministers meeting the previous week the saudis have also offered to support members having difficulty in selling their oil analysts said they are trying to make sure that no one discounts and to prevent that it appears that saudi arabia or some other opec member will allocate some of their oil sales to help members that lose sales margoshes said he added that the allocations would probably be in the form of loans to be repaid when these nations resume sales analysts said this would be useful in keeping in line nations like qatar which has had trouble selling oil but it is also likely that such assistance would be provided to nigeria which is under pressure to extend discounts analysts said that saudi arabia with assistance from opec president rilwanu lukman was trying to avoid an emergency opec meeting for fear that it would give the appearance that the december pact is falling apart daniel mckinley oil analyst with smith barney upham harris and co said both physical and futures markets have been oversold and it only took a small spark to bring on a short covering rally he believes an iranian trade mission to tokyo which refused discounts to japanese buyers brought japanese refiners into the market to cover their short positions oil traders said one japanese refiner came into the market to but cargoes of may dubai which sent prices up on mideast sours with dubai trading up to dlrs after trading yeterray as low as dlrs and then spilled over into the north sea crude oil market traders said that there have been persistent rumors today that japanese buyers are looking to pick up cargoes of brent for japan and european trade sources indidate rumors of vessels being fixed to make such shipments north sea brent today rose over dlrs with trades reported as high as dlrs up one dlr opec members denials that they are producing over their quotas sparked moves to cover short postitions indonesian oil minister subroto said today that opec production was below the mln bpd quota agreed to last december but he gave no details on opec production against claims it was more at least one mln bpd above that level the production probably is about their quota level and largely because saudi arabia will not discount and canot sell its oil as a result margoshes said analysts have mixed opinions about the extent of the current rally some believe prices can continue to rise if saudi arabia and opec hold steady in a refusal to discount but others said that despite the rally today there were still several fundamental factors including demand which could cut the rally short marion stewart an indepedent petroleum economist said slow growth in the economies of the u s and oecd would keep demand for oil slack and he now estimates that demand to rise about pct over reuter 
earn	kasler corp kasl st qtr jan net shr profit three cts vs loss seven cts net profit vs loss revs mln vs mln reuter 
earn	seaman furniture seam in stock split seaman furniture co inc said its board declared a two for one split of the company s outstanding stock it said holders of its common will receive one additional share for each share held as of march it said certificates representing additional shares will be distributed as soon as possible after april reuter 
earn	scott s hospitality inc rd qtr jan net oper shr eight cts vs eight cts oper net vs revs mln vs mln nine mths oper shr cts vs cts oper net mln vs mln revs mln vs mln net excludes extraordinary gain of dlrs or cts shr net reflects three for one stock split in nd qtr and issue of mln subordinate voting shares in st qtr reuter 
earn	telxon corp tlxn sees higher revenues telxon corp reported it expects revenues for the quarter ending march to be between to mln dlrs the company said earnings per share for the period should be between cts to cts the company is making an announcement at this time in response to analysts fourth quarter revenues and earnings per share estimates of mln to mln and cts to cts respecivtely said raymond meyo president and chief executive officer telxon recorded revenues of mln dlrs for the quarter last year and earnings per share of cts adjusted for a three for two stock split in may reuter 
acq	royal resources rrco sets vote on sale royal resources corp said its board set an april a shareholders meeting to vote on the sale of its oil and gas properties for dlrs an increase in authorized common to mln shares from mln and the change of the company s name to royal gold inc the company has agreed to sell its oil and gas properties to victoria exploration n l of perth western australia royal resources also said the sale of its interest in two gold properties the colosseum mine in san bernardino county calif and the camp bird mine near ouray colo was closed on february the company said it received mln dlrs and cancellation of the remaining balance due on the acquisition of the interest adding this represents mln dlrs more than it paid for the interest reuter 
earn	american vanguard corp amgd year net shr cts vs cts net vs sales mln vs mln note th qtr figures not given reuter 
earn	harper international inc hnt rd qtr jan shr cts vs cts net vs revs vs avg shrs vs nine mths shr cts vs cts net vs revs mln vs mln avg shrs vs reuter 
earn	witco corp wit sets regular qtly payout qtly div cts vs cts prior pay april one record march reuter 
crude	pancanadian to sell north sea properties unit to whitehall for cash 
earn	mds health group limited in qtly payout qtly div six cts vs six cts prior pay april one record march reuter 
earn	harper international inc hnt rd qtr net qtr ended jan shr cts vs cts net vs revs vs avg shrs vs nine mths shr cts vs cts net vs revs mln vs mln avg shrs vs reuter 
earn	burst agritech inc brzt year nov loss net loss vs loss sales vs reuter 
crude	api says distillate stocks off mln bbls gasoline off crude up 
crude	pancanadian to sell british interests pancanadian petroleum ltd said it agreed to sell its working interest in its north sea properties and its british unit canadian pacific oil and gas of canada ltd to whitehall petroleum ltd a private british company pancanadian pct owned by canadian pacific ltd cp said it would receive mln british pounds cash mln canadian dlrs at closing expected in two to three months it said the deal is subject to approval by regulators and its partners in the properties which consist of exploration wells it will also retain a royalty interest in the properties reuter 
earn	telxon txln sees slightly higher th qtr net telxon corp said it expects per share earnings for its fourth quarter ending march to be about cts to cts on revenues of mln dlrs to mln dlrs for the year ago quarter the company earned cts a share adjusted for a three for two stock split on revenues of mln dlrs the company said it made the earnings estimate in response to analysts forecasts which it said called for per share earnings of cts to cts and revenues of mln dlrs to mln dlrs reuter 
acq	reid ashman reas to divest test product unit reid ashman inc said it has decided to divest its test products division located in santa clara the company said it will entertain offers through march it also said steven reid a company founder and president of the test division has made an offer to purchase the unit the company s test division accounted for about ten pct of total revenues in the year ended sept and is currently running a revenue rate of under two mln dlrs per year it said reuter 
earn	pacific lighting copr plt quarterly dividend qtly div cts vs cts pay feb record jan reuter 
earn	cetec corp cec quarterly dividend qtly div five cts vs five cts pay may record may reuter 
crude	api says distillate gas stocks off in week distillate fuel stocks held in primary storage fell by mln barrels in the week ended feb to mln barrels from mln the previous week the american petroleum institute api said in its weekly statistical bulletin the oil industry trade group said gasoline stocks fell barrels to mln barrels from a revised mln while crude oil stocks rose barrels to mln from a revised mln it said residual fuel stocks fell barrels to mln from mln barrels api said refinery runs in the week fell to mln barrels per day from a revised mln and refinery use of operating capacity was pct off from a revised pct crude oil imports in the week fell to mln bpd from a revised mln api added reuter 
earn	jones medical industries inc jmed th qtr net shr six cts vs five cts net vs sales vs avg shrs mln vs mln year shr cts vs cts net vs sales vs avg shrs mln vs mln reuter 
earn	maui land and pinapple co inc quarterly dividend qtly div cts vs cts pay march record feb reuter 
trade	u s wine exports rose per cent last year exports of american wine rose per cent last year to a total of million gallons the wine institute said the san francisco based promotional group said per cent of the exported wine was from california and the top three markets were canada japan and britain japan which edged out britain as the leading importer of american wines in continued in second place canadian imports rose per cent to million gallons japan per cent to million gallons and britain per cent to gallons a spokesman for the institute said the declining value of the dollar and strong promotional efforts on the part of the california wine industry contributed significantly to the increased shipments the wine exports were valued at mln dlrs up from mln dlrs the previous year reuter 
earn	trimac ltd year net shr nine cts vs six cts net vs revs mln vs mln note year includes tax gain of dlrs reuter 
acq	oppenheimer ups viacom via stake to pct oppenheimer and co a new york brokerage firm said it raised its stake in viacom international inc to the equivalent of shares or pct of the total from shares or pct in a filing with the securities and exchange commission oppenheimer said it bought a net viacom common shares between jan and march at prices ranging from to an average of dlrs each part of its stake is in options it said it bought the shares as part of its arbitrage and investment business movie theater magnate sumner redstone and a viacom management group are in a bidding war for viacom reuter 
earn	empi inc empi th qtr loss shr loss cts vs profit cts net loss vs profit sales mln vs mln mths shr loss cts vs profit cts net loss vs profit sales mln vs nine mln reuter 
trade	u s senate panel could consider trade measure the u s senate agriculture committee may take up a bill tomorrow that would strengthen the activities of u s agricultural trade teams in selected developing countries committee staff said the measure sponsored by committee chairman patrick leahy d vt and sen john melcher d mont would establish trade teams of between six and nine persons drawn from federal agencies and private voluntary organizations staff said the trade missions would seek to generate interest in the u s government s food donation and commercial programs pl section export credit and export enhancement and upon return be required to advocate extension of concessional or commercial benefits to interested countries the trade teams would be made up of representatives of the u s agriculture department state department the agency for international development and private voluntary organizations such as u s wheat associates the bill would require teams within six months to visit seven countries mexico philippines indonesia india bangladesh senegal and nigeria within one year after passage of the measure another eight countries would have to be visited peru kenya the dominican republic costa rica malaysia venezuela tunisia and morocco other countries could be added to the list senate staff members said the bill still in the drafting stages had broad support and was expected to be approved by the committee tomorrow reuter 
earn	florida public fput splits stock ups div florida public utilities co said its board declared a three for two stock split on its common stock it said holders of record april will receive one additional share may one for each two shares held the company also said it raised the dividend on its common stock by two cts to cts a share on a pre split basis the dividend is payable april one to holders of record march reuter 
earn	city investing trust cnvlz sets cash payout city investing co liquidating trust said it declared a cash distribution of cts a unit payable april to unit holders of record april one the trust last paid a stock distribution of general development corp gdb shares in july reuter 
earn	florida commercial banks inc flbk dividend qtly div cts vs cts prior pay march record march note quarterly dividend for prior quarter included special payout of five cts a share reuter 
earn	timminco ltd year net oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs note net excludes extraordinary gain of dlrs or seven cts shr vs yr ago gain of dlrs or one ct shr reuter 
earn	united fire and casualty th qtr net shr profit cts vs loss cts net profit vs loss avg shrs vs year shr profit dlrs vs profit cts net profit vs profit avg shrs vs note full company name is united fire and casualty co net includes realized gains of dlrs and dlrs respectively in qtr and year and of dlrs and dlrs respectively in qtr and year results restated for three for two stock split net income for has been restated due to a change in the method used in computing deferred acquisition costs results include the effect of a stock offering resulting in the issuance of an additional shares of common stock reuter 
earn	power corp of canada th qtr net oper shr cts vs cts oper net vs revs mln vs mln year oper shr dlrs vs cts oper net vs revs mln vs mln note fourth quarter results exclude extraordinary and other items which raised final net to dlrs or cts a share and lowered final net to dlrs or cts a share in full year results exclude extraordinary and other items which raised final net to dlrs or dlrs per share and net to or dlrs per share results restated to reflect june two for one stock split reuter 
earn	vendo co ven th qtr loss shr loss dlrs vs loss cts net loss vs loss sales mln vs mln mths shr loss dlrs vs profit cts net loss vs profit sales mln vs mln note prior year net includes extraordinary loss of dlrs in qtr and extraordinary profit of dlrs in year reuter 
earn	lawson products inc laws raises qtly payout qtly div seven cts vs six cts prior pay april record april three reuter 
earn	kaneb energy kep may omit future payouts kaneb energy partners ltd said it may be forced to omit or lower future quarterly cash distributions because of a contract dispute with two major customers and the continued slump in oil and gas prices the partnership said however that it will pay a regular quarterly distribution of cts a unit on april to holders of record march reuter 
earn	brascan ltd brs a th qtr net shr cts vs cts net mln vs mln year shr dlrs vs dlrs net mln vs mln note holding company reuter 
earn	florida commercial banks inc flbk qtly div qtly div cts vs cts prior payable march record march reuter 
earn	chauvco resources ltd year net shr cts vs cts net vs revs vs reuter 
crude	saudi success seen in curbing opec production saudi arabia will succeed in pressuring other members of the organization of petroleum exporting countries to stay within their production quotas said morgan stanley group managing director john wellemeyer wellemeyer speaking to reporters at an offshore oil engineering conference also said he expected opec nations to attempt to hold prices under dlrs a barrel for several years to keep industrial demand for residual fuel oil strong over the next few weeks i think you ll see a concerted effort by the saudis to get production down wellemeyer said the saudis are committed to that price level of dlrs a barrel and are willing to make it happen again he said in recent weeks oil prices fell to the to dlrs a barrel level on market reports of some ope members producing above their quota pushing total opec production to mln barrels per day but prices rebounded today with april u s crude prices up about one dlr to over dlrs a barrel on a belief saudi arabia is attempting to curb opec output wellemeyer said that sharp declines in u s oil production could push demand for opec oil above mln barrels per day as early as and up to mln barrels per day by although the projected increases in demand for opec oil should strengthen world prices wellemeyer said he believed the organization would hold its official price below dlrs a barrel for some time to prevent residual fuel users from switching to natural gas supplies the interfuel swing market accounts for about eight mln barrels a day or pct of the world demand for oil reuter 
earn	zenith labs zen will report th qtr loss zenith laboratories inc said the company will report a fourth quarter loss and the amount will be determined on completion of its year end audit the company did not elaborate further for the third quarter ended sept zenith reported a loss of dlrs or cts per share adjusted for a may for stock split the company also said it received food and drug administration approval to market cefadroxil a generic version of an antibiotic with domestic sales exceeding mln dlrs in zenith said it will not market the drug until questions relating to the applicability of certain patents have been resolved reuter 
earn	dexleigh corp six mths dec net shr four cts vs three cts net vs revs mln vs mln reuter 
grain	u s congress to look at soil program exemptions the senate agriculture committee is expected to take up a bill tomorrow that would exempt from government conservation regulations those farmers who have rotated alfalfa and other multiyear grasses and legumes with row crops committee staff said under current so called sodbuster law farmers who planted alfalfa and other multiyear grasses and legumes on highly erodible land in the years through lose federal farm program benefits if they produce a row crop on that land in later years sen edward zorinsky d neb sponsor of the measure said recently that those crop rotating practices resulted in less erosion than the practices of many farmers who produced strictly row crops reuter 
acq	nippon steel invests mln dlrs in gtx corp gtx corp said nippon steel co of japan in a move to diversify into high technology invested eight mln dlrs in gtx nippon s move was the result of current exchange rates and the revaluation of the yen which have made the u s electronics industry an attractive investment opportunity for japanese corporations according to a gtx statement gtx noted that nippon is expecting sales of billion dlrs by of that amount six billion dlrs is targeted for electronics gtx located in phoenix makes computerized systems that read drawings and transfer them into data bases reuter 
acq	c t c dealer extends bid for canadian tire c t c dealer holdings ltd said it extended its previously announced offer for pct of canadian tire corp ltd to midnight on march ctc a group of canadian tire dealers which already owns pct of canadian tire is currently appealing in an ontario court against a previously announced ontario securities commission ruling blocking ctc s mln dlr bid the blocked bid did not include non voting shareholders who hold pct of canadian tire equity reuter 
earn	rockwell rok sees improvement in rockwell international corp continues to expect significant improvement in results despite the somewhate disappointing performance of one of its business segments president donald beall told reuters rockwell reported net earnings in its first quarter ended december of mln dlrs or dlrs per share compared to mln dlrs or cts per share a year ago operating earnings however were off about four pct and analysts have attributed the decline to rockwell s allen bradley unit which has suffered from weakness in the industrial automation market it is in a soft market now but we are not concerned it is moving forward with market development and is enhancing market share beall said of allen bradley unit beall who was in los angeles to address a technology management conference said first quarter sales for the allen bradley unit were flat as compared to a year earlier he said the company does not break out operating earnings by unit on a quarterly basis beall said the recent trend toward cost sharing in the research and development phase of government contracts should not have a major impact on rockwell s near term performance he noted however the increasing focus on cost sharing could limit technological innovation i worry that we are heading into a period of misuse of contracting approaches too early in the development stages of important military contracts beall said adding long term we have a very serious problem in addition beall told the conference the greatest competitive threat to defense contractors is in defense electronics due to the government s attempt to take advantage of competitively priced products made outside the u s reuter 
earn	mickelberry corp mbc sets qtly payout qtly div cts vs cts prior pay march record march reuter 
acq	metropolitan federal mftn to make acquisition metropolitan federal savings and loan association said it has signed a letter of intent to acquire american trust of hendersonville tenn for an undisclosed amount of cash american trust had year end assets of over mln dlrs reuter 
interest	gm s gm pontiac has interest rate incentives general motors corp said its pontiac division has established an interest rate support incentive program effective immediately as an alternative to its current option bonus program the company said qualified buyers of pontiacs may now select special finance rates of pct on month contracts pct on month contracts pct on mopnth contracts or pct on month contracts the program is scheduled to expire april under the option bonus program which is also scheduled to expire april buyers receive cash bonuses on the purchase of pontiacs equipped with option group packages with the amount depending on the option level on each vehicle the company said the special interst rate program applies to ann new and pontiacs sold from dealer stock and delivered to customers during the program period a customer may choose only one program it said reuter 
earn	westar mining ltd th qtr loss shr not given oper loss vs profit revs mln vs mln year shr not given oper loss mln vs profit mln revs mln vs mln note pct owned by british columbia resources investment corp note continued qtr excludes extraordinary loss of mln dlrs versus loss of mln dlrs in prior year year excludes extraordinary loss of mln dlrs versus loss mln dlrs in prior year reuter 
acq	dow chemical dow to sell south african unit dow chemical co said it has agreed in principle to sell its industrial chemicals and plastics business interests in south africa and related assets to a group of south african investors for undisclosed terms completing the sale of the company s south african assets dow said it will continue to support its educational and health programs for south african blacks reuter 
earn	williams cos wmb year loss shr loss dlrs vs profit cts net loss mln vs profit mln revs billion vs billion note includes loss of mln dlrs or dlrs a share from discontinued operations and writedowns of holdings in texasgulf inc restated reuter 
earn	geonex sees sales hurt by production shift geonex corp geox said bellsouth corp bls unit southern bell telephone and telegraph co s decision to postpone the start up of new conversion assignments at geonex s chicago aerial survey unit could negatively affect its fiscal revenues the company said it had expected higher revenues from the records conversion work but it now foresees revenues from southern bell work at about eight mln dlrs the same level as last fiscal year geonex said southern bell will let cas continue work in progress and it expects to perform mechanized posting and records conversion for southern bell through but it added that the southern bell decision has forced it to pursue opportunities with other telephone companies and municipalities to replace the southern bell work reuter 
earn	nwa inc th qtr shr profit cts vs loss nine cts 
earn	crime control inc th qtr net loss shr loss dlrs vs loss cts net loss vs loss revs vs avg shrs mln vs mln year shr loss dlrs vs loss dlrs net loss vs loss revs mln vs mln avg shrs mln vs mln note net loss includes a fourth quarter charge of mln dlrs from writeoffs of certain assets net loss includes a charge of about mln dlrs from settlement of class action lawsuit reuter 
earn	castle and cooke inc cke th qtr loss shr loss cts vs loss cts net loss mln vs loss revs mln vs mln avg shrs mln vs mln year shr profit cts vs profit cts net profit vs profit rev billion vs billion avg shares vs note fourth quarter includes after tax loss from discontinued flexi van operations of mln dlrs primary earnings per share data calculated after deducting preferred dividend requirements reuter 
earn	voicemail international inc th qtr loss shr loss cts vs loss cts net loss vs loss revs vs avg shrs vs mths shr loss cts vs cts net loss vs loss revs vs avg shrs vs reuter 
earn	molecular genetics inc mogn th qtr loss oper shr loss cts vs loss cts oper net loss vs loss revs vs avg shrs vs year oper shr loss cts vs loss cts oper net loss vs revs vs avg shrs vs note current year net both periods excludes charge dlrs from cumulative effect of accounting change for patents net both periods includes charge of about dlrs from severance obligations year net includes charge dlrs from writeoff of seed commitments reuter 
earn	merrimac industries inc mmac th qtr net shr five cts vs cts net vs sales vs year shr cts vs dlrs net vs sales mln vs mln reuter 
earn	b c resources has agreement on credit facility british columbia resources investment corp earlier reporting higher full year operating losses said it reached agreement in principle with five lenders providing for a mln dlr credit facility over a four year term the company said the credit facility is extendable under certain circumstances with annual principal payments of five mln dlrs the agreement is subject to certain lender approvals and completion of formal documentation it earlier reported losses before extraordinary items rose to mln dlrs from year ago mln dlrs b c resources also said dividends on its series preferred shares and exchangeable preferred shares will remain suspended however payment will be made on account of the quarterly dividend on the exchangeable preferred shares by the company s trustee from a deposit account b c resources said sufficient funds should be available to pay full amount of the march dividend to exchangeable preferred shareholders with payment expected in early april to shareholders of record march the company said if future dividends are not declared after the april exchangeable preferred quarterly payout future payment will depend on the amount of dividends received from westcoast transmission co wtc b c resources said the company said its increased fourth quarter and full year operating losses primarily resulted from lower oil prices and a four month labor shutdown at its balmer coal mine in british columbia b c resources also recorded a mln dlr extraordinary loss which included losses on disposition of north sea oil and gas interests by pct owned westar mining ltd b c resources extraordinary charge also included a writedown of its investment in westar petroleum gains on the sales of westar timber s skeena and celgar pulp mills and terrace sawmill partially offset the extraordinary loss the company said the company said the asset sales have eliminated b c resources long term financing commitment in the north sea and exposure to the fluctuating pulp market it also said it cut long term debt in to mln dlrs from billion dlrs at year end and management changes and staff cuts have significantly reduced costs reuter 
money-fx	u k money market given mln stg late help the bank of england said it had provided the money market with late assistance of around mln stg this brings the bank total help so far today to some mln stg and compares with its latest forecast of a mln stg shortage in the system today reuter 
earn	cml group inc cmli nd qtr jan net shr cts vs cts net vs sales mln vs mln avg shrs vs st half shr cts vs cts net vs sales mln vs mln avg shrs vs reuter 
earn	dress barn inc dbrn nd qtr jan net shr cts vs cts net vs sales mln vs mln st half shr cts vs cts net vs sales mln vs mln note share adjusted for three for two stock split in may reuter 
earn	williams wmb has th qtr charge williams cos said a fourth quarter charge of mln dlrs from discontinued operations and writedowns contributed to a net loss of mln dlrs or dlrs a share against earnings of mln dlrs or cts in the loss in the quarter was mln dlrs or dlrs against income of mln dlrs or cts a year ago revenues in the quarter fell to mln dlrs from mln and in the year fell to billion dlrs from billion in williams also said the previously announced sale of its agrico chemical co unit to freeport mcmoran resource partners ltd has cleared antitrust review and should close next week the first quarter will include proceeds from the agrico sale for mln dlrs cash at closing plus deferred payments and proceeds of mln dlrs from the sale of a stake in peabody holding co completed in january in the first quarter williams reported net of mln dlrs or cts a share on sales of mln dlrs williams said the charges in the current year were related to an ongoing restructuring the company said the restructuring moves had improved its balance sheet and improved the outlook for future stability and growth in earnings operating profit at the company s northwest pipeline corp unit fell pct to mln dlrs from lower sales the williams natural gas unit had operating profit of mln dlrs compared to mln dlrs on lower sales volumes profit at williams gas marketing rose to mln dlrs from about mln and the william pipe line co had operating profit of mln dlrs versus mln dlrs a year ago reuter 
earn	perry drug stores inc pds st qtr jan net shr cts vs cts net vs sales mln vs mln reuter 
earn	nwa inc nwa th qtr net shr profit cts vs loss nine cts net profit mln vs loss two mln revs billion vs mln year shr profit dlrs vs profit dlrs net profit mln vs profit mln revs billion vs billion reuter 
earn	camco inc cam sets quarterly qtly div cts vs cts prior pay april record march reuter 
acq	senate s proxmire urges curbs on takeovers senate banking committee chairman william proxmire called for curbs of hostile corporate takeovers and new restrictions on risk arbitrageurs at the very least it is high time that we require all risk arbitrageurs to register seperately and specifically with the securities and exchange commission and that we consider precluding brokerage firms and their employers from investing in or owning any securities issued by third party risk arbitrage operations proxmire said at the start of a hearing on corporate takeovers a burning issue must be whether there ought to be a complete seperation in the future of risk arbitrage and investment banking proxmire said he said he was concerned that hostile takeover attempts were hurting the economy a view shared by corporate executives who tesitified at the hearing i believe that takeovers have become so abusive and so tilted in favor of the financial buccaneers that remedial action is required usx corp chairman david roderick said for congress to allow the takeover game to continue unchecked would be economic suicide champion international corp chairman andrew sigler added reuter 
trade	spain to launch export drive spain unveils a billion peseta plan this month aimed at boosting exports to reach european community levels director general of the infe export institute apolonio ruiz ligero said the target is to raise exports to pct of gross domestic product over the next four years compared to pct now he said this is the minimum prevailing level in the ec and there is no reason why we should lag behind countries like italy which have a similar productive structure he said the plan calls for providing soft loans tax cuts and other fiscal benefits to exporters and raising spain s presence in international trade fairs consumer goods such as fashion and wine as well as traditional industrial exports will be promoted ruiz ligero said infe would double its annual budget to billion pesetas to finance the four year plan while the government s development aid fund fad would provide a special billion peseta grant the plan calls for boosting exports by five to six pct in real terms this year after a pct decline last year ruiz ligero attributed this drop to a lack of demand in developing countries and a rally in domestic consumer demand which rose six pct last year after pct in he added that pct of spain s exports went to organisation for economic cooperation and development oecd countries the ec accounts for pct of the market and exports to the community rose seven pct last year the government plans to concentrate efforts on western europe and the u s the problem is convincing businessmen that exports are vital to survival in the context of ec competition he said he said spanish businessmen traditionally turned to the domestic market to satisfy rises in consumer demand while turning their backs on foreign markets they have to realise their share of the home market is going to shrink with growing deregulation he said foreign companies are taking up positions in the domestic economy and it is it vital to secure a market share abroad reuter 
acq	rossignol unit buys canadian ski boot maker french ski and tennis equipment maker skis rossignol said its pct owned subsidiary skis dynastar sa agreed to buy canadian ski stick and boot manufacturer cfas from warrington inc a rossignol spokesman declined to give financial details but said turnover of cfas was about mln french francs doubling the rossignol group s activities in the boot and stick sectors reuter 
earn	usf and g corp fg raises quarterly dividend qtly div cts vs cts in the prior quarter payable april record march reuter 
earn	brnf liquidating trust sets distributions brnf liquidating trust said trustees declared a th liquidating dividend of dlrs per unit payable april one to holders of record of its series a b and c certificates on march the trust had paid a th liquidating distribution on january amounting to dlrs on series a dlrs on series b and dlrs on series c certificates reuter 
earn	stanline inc stan st qtr jan net shr cts vs cts net vs revs mln vs mln note share adjusted for five pct stock dividend in december reuter 
earn	swift energy co sfy th qtr net shr cts vs eight cts net vs revs vs year shr cts vs cts net vs revs vs reuter 
earn	browning ferris industries inc bfi in payout qtly div cts vs cts prior pay april record march reuter 
acq	buffton corp buff buys b and d instruments buffton corp said it completed the purchase of b and d industruments inc for two mln dlrs cash and shares of common stock it said b and d is a private company headquartered in kansas and had sales of dlrs in buffton said the company designs and manufactures aviation computer display systems and engine instrumentation reuter 
earn	vereins und westbank to reorganize network und westbank ag vhbg f plans to streamline its branch network to improve its distribution of financial services management board member eberhard rainer luckey said he told a news conference on results that branches in hamburg and schleswig holstein would be merged or closed a branch in frankfurt opened and that the bank was considering opening a branch in london luckey said the bank s total operating profits rose nearly pct in parent bank net profit rose to mln from mln and the dividend remained unchanged at marks the group balance sheet including for the first time vereinwest overseas finance jersey rose pct to billion marks luckey said the parent bank balance sheet rose mln marks to billion while business volume was almost unchanged at billion credit volume eased to billion from billion while loans to companies rose seven pct foreign business and securities trading turnover also increased higher earnings from trading on the bank s own account contributed to record operating profits net interest income rose on firmer interest margins by mln marks to mln net commission income rose mln to mln luckey said foreign commercial business was influenced by a fall in west german foreign trade but earnings were still satisfactory the bank s exposure in latin america was less than two pct of its total foreign credit and in africa less than one pct the bank continued to sell some of its exposure in and will also continue to stock up risk provisions he said reuter 
trade	baldrige concerned about korean taiwan deficits secretary of commerce malcolm baldrige expressed concern about the continuing u s trade deficits with south korea and taiwan and said that without an adjustment in exchange rates there is little likelihood of improvement speaking to the president s export council an industry advisory group baldrige said the trade deficit issue was under discussion with those countries i feel that unless we see an exchange rate adjustment we probably won t be able to see much of a change in the large surplus that taiwan in particular has with us he said in a wide ranging discussion on u s trade matters baldrige also repeated u s concern about an attempted takeover by japan s fujitsu company of fairchild computer he said that the japanese were resisting allowing u s companies into the giant computer business while at the same time attempting to acquire control of a u s company that does major computer business in the u s market lastly baldrige said that the united states was hopeful that it could complete a free market agreement with canada by the autumn but said major issues including acid rain remained unresolved reuter 
acq	allwaste alws to make acquisition allwaste inc said it has agreed in principle to acquire an air moving and related industrial services company it did not identify for up to dlrs in common stock reuter 
earn	castle and cooke cke takes fourth qtr loss castle and cooke inc said it would take a fourth quarter after tax loss of mln dlrs from the previously reported sale of its flexi van container leasing business to itel corp itel for about mln dlrs earlier the company reported a loss for the fourth quarter ended january of mln dlrs or cts a share compared with a loss of mln dlrs or cts per share in s fourth quarter for the year however the diversified holding company reported a net profit of mln dlrs or cts a share versus mln dlrs or cts a share in david murdock chairman and chief executive officer said both our food business and our real estate operations increased their earnings during the year but he added that flexi van s results were hit by depressed daily rental rates for leased equipment caused by oversupplies the company also reported that george elkas formerly executive vice president has been named president and chief operating officer of flexi van corp while william burns has been named executive vice president of flexi van reuter 
acq	convenient food mart cfmi agrees to buy chain convenient food mart inc said it has tentatively agreed to buy all the outstanding stock of plaid pantries inc and two associated businesses in oregon and washington for undisclosed terms plaid pantries owns and operates convenience stores in the portland and seattle areas the other business are two companies involved in the wholesale distribution of groceries and health and beauty aids it said closing is expected by may reuter 
earn	wal mart stores inc th qtr shr cts vs cts 
acq	marine midland mm buys brokerage assets marine midland banks inc said it has acquired the customer account base of new york discount brokerage firm ovest financial services inc for undisclosed terms to expand its discount brokerage operations in the northeastern u s it said it will combine ovest s activities with those of its marine midland brokerage service unit reuter 
crude	sun raises crude oil postings one dlr across board wti now dlrs bbl 
earn	devtek corp nd qtr jan net shr cts vs nine cts net vs revs mln vs mln six mths shr cts vs cts net vs revs mln vs mln reuter 
earn	saxton industries ltd saxif year net shr cts vs cts net vs revs mln vs mln note current results for months after change in fiscal year end to december from august reuter 
earn	toronto sun plans two for one stock split toronto sun publishing corp said it planned a two for one split of its common shares subject to regulatory approval and approval by shareholders at the april annual meeting reuter 
earn	servo corp of america sca st qtr jan net shr cts vs cts net vs sales vs reuter 
earn	electro nucleonics inc enuc nd qtr dec shr loss dlrs vs profit cts net loss vs profit sales mln vs mln avg shrs vs st half shr loss dlrs vs profit cts net loss vs profit sales mln vs mln avg shrs vs note current half net includes dlr tax credit current year net both periods includes dlr writedown of inventory of clinical chemistry products reuter 
earn	wal mart stores inc wmt th qtr jan net shr cts vs cts net mln vs mln sales billion vs billion year shr dlrs vs dlrs net mln vs mln sales billion vs billion reuter 
earn	mirtone international inc st qtr dec net shr two cts vs two cts net vs revs vs reuter 
earn	pyro energy corp btu year net shr cts vs cts net vs revs mln vs mln reuter 
earn	unitrode corp utr th qtr jan loss shr loss cts vs profit cts net loss vs profit revs mln vs mln mths shr loss cts vs profit cts net loss vs profit revs mln vs mln note income before taxes for the mths ended jan includes gains for fire insurance settlement and unusual charges of for provisions for estimated cost of severance pay for terminated workers and a one time writedown of inventory and equipment reuter 
earn	buehler international inc bulr th qtr net shr five cts vs cts qtly div two cts vs two cts prior net vs sales mln vs mln year shr cts vs cts net vs sales mln vs mln note net includes tax credits of dlrs in quarter and dlrs in year net both periods includes dlr pretax inventory writedown dividend pay march record march reuter 
earn	stanhome inc sth raises quarterly two cts qtly div cts vs cts prior pay april record march reuter 
earn	instron corp isn sets quarterly qtly div three cts vs three cts prior pay april record march reuter 
earn	ideal school supply corp idel th qtr net oper shr cts vs eight cts oper net vs sales vs avg shrs vs three mln year oper shr cts vs cts oper net vs sales mln vs mln avg shrs vs three mln note net both periods includes dlr tax credit reuter 
earn	salomon inc sb sets regular quarterly qtly div cts vs cts prior pay april one rcord march reuter 
acq	piedmont aviation pie board to meet today piedmont avaition inc s board of directors will conduct a special meeting beginning at est today a piedmont spokesman said the spokesman would not say what was on the agenda in mid february piedmont said its board would meet to discuss all proposals to acquire the company its board also withdrew a recommendation to accept a dlrs a share cash offer from norfolk southern corp nsc in light of a competing revised bid from u s air group inc u u s air offer to buy pct of the company s stock for dlrs a share cash and the remaining for dlrs a share of its stock reuter 
earn	first union fur leaves dividend unchanged first union real estate investments said its board left the quarterly dividend unchanged at cts per share payable april record march the trust which has raised its quarterly dividend frequently in the past two years and in the first quarter in both years said the tax reform act of has limited its flexibility on dividends and trustees will now consider the appropriateness of any dividend increases only during the later quarters of the year reuter 
earn	rykoff sexton inc ryk rd qtr jan net shr cts vs cts net vs sales mln vs mln nine mths shr cts vs dlrs net vs sales mln vs mln reuter 
earn	system software associates ssax st qtr net periods end january and shr cts vs nine cts net vs revs vs note system software associates inc is full name of company reuter 
earn	geico corp gec raises qtrly dividend qtrly div cts vs cts prior pay march record march reuter 
earn	stanley works swk sets quarterly qtly div cts vs cts prior pay march record march reuter 
earn	novell inc novl st qtr jan net shr cts vs cts net vs sales mln vs mln avg shrs mln vs mln note fourteen vs week periods reuter 
earn	brown forman bfdb to change record dates brown forman inc said at the suggestion of the american stock exchange it has changed the record date for the ct per share quarterly dividend on its class a and class b common stock that is payable april one to march from march to coincide with the record date for a three for two stock split declared february it said the record date for the dividend on its four pct cumulative preferred stock has also been changed to march from march reuter 
earn	goodyear tire gt details tax refund goodyear tire and rubber co said its results include a tax refund of mln dlrs from the costs of restructuring the company in a successful defense against a takeover attempt by james goldsmith chairman robert mercer said heavy restructuring costs related to the takeover attempt combined with government tax incentives for investments resulted in this federal tax refund the refund was included but not broken out in its initial results a spokesman said it reported net income of mln dlrs against mln dlrs a year earlier reuter 
earn	great northern nekoosa gnn announces split the great northern nekoosa corp said it will recommend to shareholders a two for one common stock split the company said it will make the proposal to shareowners at its annual mmeting may in dothan ala near the company s great southern paper division operations in conjunction with the stock split proposal the shareowners will be asked to approve an increase in the authorized common stock from mln to mln shares the company said the company said it will propose an increase in its dividend rate if the split is approved effective with the june payment the company said the present rate on gnn common is cts per share the company said it would recommend a quarterly rate of cts a share on the split stock this would be equal to a dividend of cts a share on the present common seven pct higher than the current rate the company said it had increased the dividend by pct last december great northern nekoosa s last common stock split a three for two was in december it said as of dec there were shares of gnn common stock outstanding according to the company reuter 
acq	harris lifts builders transport truk stake harris associates l p a chicago investment advisor said it raised its stake in builders transport inc to the equivalent of shares or pct of the total outstanding from shares or pct in a filing with the securities and exchange commission harris said it bought builders transport common shares on feb at dlrs a share it also said it bought debentures on feb that could be converted into shares harris said its dealings in builders transport were on behalf of its advisory clients it has also said it has no intention of seeking control of the company reuter 
acq	investors have pct of exovir xovr mark hammer a private investor from melville n y and members of his family told the securities and exchange commission they have acquired a total of shares of exovir inc or pct of the total outstanding hammer said his group has been accumulating exovir stock since oct for investment purposes and may buy more shares or sell all or part of his current stake while he said he has no intention of seeking control of the company hammer said that because of his extensive business experience and his interest in exovir stock he may be invited to become a member of the company s board reuter 
acq	lotus lots to acquire computer access corp lotus development corp said it has signed a letter of intent to acquire substantially all of the assets of computer access corp for undisclosed terms computer asscess makes bluefish full text search and retrieval software for international business machines corp ibm and compatible personal computers the company said the acquisition is subject to approval by both boards reuter 
earn	equitable of iowa cos eqica th qtr net oper shr cts vs cts oper net vs revs mln vs mln year oper shr dlrs vs cts oper net mln vs revs mln vs mln note net excludes realized gains on investment of dlrs vs dlrs in quarter and vs mln dlrs in year net excludes discontinued massachusetts casualty operations loss dlrs vs gain dlrs in quarter and gain dlrs vs gain dlrs in year reuter 
earn	corroon and black corp cbl raises quarterly qtly div cts vs cts prior pay april one record march reuter 
trade	ec appoints new trade chief the european community commission today appointed its chief spokesman hugo paemen as its top official in charge of multilateral trade negotiations a commission spokesman said paemen a belgian official who had previously been chief aide to former external affairs commissioner etienne davignon has been in his post since january the spokesman said paemen will continue as chief spokesman until the retirement on may of paul luyten who is now in charge of ec departments handling negotiations in the world trade body gatt the oecd and other forums reuter 
acq	hayes albion hay delays special meeting hayes albion corp said it has delayed the special meeting at which shareholders will vote on its merger into harvard industries inc hava until march from march due to a delay in securities and exchange commission clearance of proxy materials reuter 
earn	grossman s inc gros th qtr loss oper shr loss nine cts vs profit cts oper net loss vs profit sales mln vs mln year oper shr profit cts vs loss cts oper net profit vs loss sales billion vs mln note net includes discontinued operations gain dlrs vs loss mln dlrs in quarter and losses mln dlrs vs mln dlrs in year net includes loss dlrs vs nil in quarter and gain mln dlrs vs loss dlrs in year from settlement of liabilities under plan of reorganization from chapter bankruptcy quarter net includes dlr provision for loss on future store closings offset by reduction in pension liabilities reuter 
acq	comdata network cdn in new acquisition talks comdata network inc said it is in active talks with other parties on a possible acquisition or recapitalization of comdata in an effort to maximize shareholder values comdata said rosewood financial inc together with cypress partners lp and driftwood ltd have acquired over five pct of comdata stock and rosewood intends to acquire over pct of comdata comdata said it has not yet reached a definitive agreement with mason best co for the previously announced recapitalization and self tender offer reuter 
earn	webcor electronics inc wer rd qtr dec shr loss cts vs loss cts net loss mln vs loss mln revs vs mln nine months shr loss dlrs vs loss dlrs net loss mln vs loss mln revs mln vs mln reuter 
earn	communications systems inc csii th qtr net shr cts vs cts net vs revs vs year shr cts vs cts net vs revs mln vs mln note net includes gains from discontinued operations equal to three cts compared with nine cts in reuter 
crude	energy california oil production drilling for oil in california is likely to continue at last year s sharply reduced levels despite recent gains in crude oil prices industry analysts said because much of the crude oil in california fields is thick heavy and expensive to extract oil prices would have to increase to near s levels before any significant recovery is seen in drilling they said companies will probably only drill their best prospects said john curti an analyst with birr wilson securities inc few new wells now are being drilled only rigs about one quarter of the total available were drilling for oil onshore in california last week compared to about last year said bill bolster of munger oil information services which tracks california drilling activity it s in the dregs right now said bolster of the state s drilling activity current prices are not enough to justify increased drilling said ed malmgreen of the california independent producers association while an organization of petroleum exporting countries pact to curb production boosted oil prices early this year prices eventually fell prices for california s marker grade line blend have slumped about pct in the last month to dlrs from a high of about dlrs more than half of california s oil comes from stripper wells those producing less than barrels a day and that much of that oil costs between and dlrs a barrel to extract malmgreen said it s not unusual for a stripper well to cost dlrs malmgreen said many stripper wells along the southern california coast produce eight times as much water as crude oil and inland wells frequently require the use of steam injection to spur extraction of the thick heavy oil he said the outlook for future production in california is clouded by a lack of exploratory drilling now analysts said in the heart of california s oil patch kern county which produces about two thirds of the state s oil exploratory drilling has slowed to a crawl only exploratory wells were drilled in kern county in compared to in according to david mitchell of the state energy commission so far this year only five exploratory wells have been drilled i don t think they ll even get to what they did last year mitchell said no pickup in exploratory drilling is likely for the rest of the decade mitchell said along with the fall in drilling has come a decrease in the number of producing wells and overall production between february and october of the number of producing oil wells in california fell pct to from more than said bill guerard of the california energy commission in line with that decrease california s crude oil output fell about pct last year due to low oil prices and is expected to remain at that lower level analysts said between february and october california s crude oil production slipped from an all time high of mln barrels per day to mln bpd guerard said total estimated crude oil production in california for was mln bbls compared with mln bbls in and mln bbl in according to the california department of conservation production in will probably hold around levels guerard said reuter 
earn	webcor electronics wer in technical default webcor electronics inc said it remains in technical and payment default under its revolving credit agreement and in technical default under certain other obligations to its lender although its lender has not enforced its right to demand payment of the debt in full it continues to reserve its right to do so at any time it said earlier webcor reported a third quarter net loss of mln dlrs and nine months net loss of mln dlrs reuter 
acq	first savings bank florida fsbf sets meeting first savings bank of florida said it expects a special shareholder meeting to be held around may to consider the proposed merger into gibraltar financial corp gfc it said the annual meeting will be held april to elect two directors and ratify the appointment of auditors reuter 
grain	izvestia says soviet winter crops need reseeding the government daily izvestia said a considerable amount of soviet winter crops need to be reseeded and the state grain harvest target of mln tonnes will not be easy to fulfil without giving figures the newspaper said a considerable part of the winter crops must be reseeded but that creates extra effort in the fields in spring the soviet union has previously said nine mln hectares of winter grain will have to be reseeded because of winterkill a u s department of agriculture analyst in washington has said the figure of nine mln hectares would equal about pct of the total winter crop and would be the second highest winterkill in years the planned task of bringing in no less than mln tonnes of grain is not simple izvestia said this week s sudden fall in temperatures has affected large parts of the country and has caused fieldwork to stop in the ukraine it said adding that temperatures fell to as low as minus centigrade in byelorussia reuter 
acq	borman s brf to buy safeway s utah division safeway stores inc said it agreed to sell the assets and operations of its salt lake city division to borman s inc under undisclosed terms the division includes operating supermarkets in five states most of which are in utah idaho and wyoming together with distribution and manufacturing facilities safeway said it said sales for the division for the year ended january three were about mln dlrs safeway also said the transaction is subject to borman s ability to obtain financing and to successfully negotiate new labor agreements with the various unions involved reuter 
acq	fisher foods fhr says stake in firm sold fisher foods inc said american financial corp has sold its fishers shares a pct interest to a group consisting of american seaway foods inc rini supermarkets inc and rego supermarkets inc the company said in connection with the transaction all five american financial representatives have resigned from its board reuter 
grain	u s senate panel makes conservation exemption the u s senate agriculture committee approved a measure that would exempt farmers who planted alfalfa or other multiyear grasses and legumes between and from a federal conservation requirement sen edward zorinsky d neb said his bill would restore equity under federal sodbuster rules which currently deny farm program benefits to farmers who between and planted alfalfa and other multiyear grasses and legumes without interrupting the plantings with a row crop an official from a leading conservation group who asked not to be identified said the panel s move was an unfortunate first action because it could lead to the exemption of potentially millions of acres from the sod buster regulations established under the farm bill reuter 
earn	pico products inc ppi nd qtr jan shr profit three cts vs loss nine cts net profit vs loss revs mln vs mln six months shr loss two cts vs loss cts net loss vs loss revs mln vs mln note net includes gain of or one cts in nd qtr and six months for discount on early long term debt repayment reuter 
acq	outboard marine om rising on takeover rumor wall street traders said the stock of outboard marine corp was rising on a rumor over a cable television program that outboard is a likely takeover target of sun chemical corp snl outboard was up to on tuesday it rose to tuesday a report on cable news network today said sun chemical has pct of outboard and is conducting a study on whether to go for control of the whole company an outboard marine spokesman would not comment on the rumor the cable program said a buyout of outboard would be for up to dlrs a share or for a total of mln dlrs a spokesman for sun chemical was not immediately available outboard marine last june adopted a shareholder rights plan that will be triggered when a person or group acquires beneficial ownership of pct or more of its common or begins a tender offer that would result in pct ownership wayne jones vice president at outboard for strategic planning said management wants to stay independent we are not trying to sell the company we are proceeding with our strategic plans he said that plan includes integrating five boat companies that outboard marine has bought since the middle of december jones said all five will cost between mln dlrs to mln dlrs an analyst who wanted anonymity said dlrs a share is a decent price for outboard a bdding war to or dlrs a share is stretching it maybe dlrs a share tops he said outboard which has mln shares outstanding is in registration for a two mln common share offering with morgan stanley inc it makes sense the analyst said for sun chemical to strike before the offering is underway reuter 
earn	algoma central railway th qtr net oper shr cts vs cts oper net vs revs mln vs mln year oper shr cts vs dlrs oper net vs revs mln vs mln note net excludes extraordinary loss of dlrs or eight cts shr vs yr ago gain of dlrs or cts shr reuter 
earn	genova inc gnva st qtr dec net oper shr profit four cts vs loss four cts oper net profit vs loss sales mln vs note prior year net includes dlr tax credit but excludes dlr gain on early debt retirement reuter 
earn	supreme equipment systems corp seqp nd qtr shr cts vs cts net vs revs mln vs mln six months shr cts vs cts net vs revs mln vs mln note net includes gain of dlrs in nd qtr and dlrs in six months from tax loss carryforward reuter 
earn	gulf applied technologies inc gats th qtr oper shr loss five cts vs loss cts oper net loss vs loss revs vs year oper shr loss cts vs loss dlrs oper net loss vs loss revs mln vs note results restated for discontinued operations net both periods excludes dlr tax credit net excludes gains from discontinued pipelines and terminals operations of dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter 
earn	van dorn co vdc th qtr net shr cts vs cts net vs revs mln vs mln mths shr dlrs vs dlrs net mln vs mln revs mln vs mln reuter 
earn	fieldcrest cannon inc fld sets quarterly qtly div cts vs cts prior pay march record march reuter 
acq	varian var buys analytichem international varian associates inc said it acquired all the outstanding stock of closely held analytichem international inc for an undisclosed amount of cash analytichem based in harbor city calif is a supplier of bonded phase preparation products used to prepare chemical samples for analysis varian said reuter 
earn	kaneb services inc kab th qtr loss oper shr loss dlrs vs profit nine cts oper net loss mln vs profit revs mln vs mln mths oper shr loss dlrs vs profit cts oper net loss mln vs profit mln revs mln vs mln note oper excludes loss from discontinued operations of dlrs vs mln dlrs for qtr and mln dlrs vs dlrs for mths note oper includes writedown of offshore drilling equipment of dlrs for qtr and mln dlrs for mths also includes writedowns of oil and gas assets and tubular goods inventory of mln dlrs and dlrs respectively for mths reuter 
earn	suspensions parts industries ltd spilf year shr cts vs cts net mln vs mln revs mln vs mln note full name is suspensions and parts industries ltd reuter 
earn	mitchell energy and development corp mnd payout qtly div six cts vs six cts prior pay april two record march reuter 
earn	frost and sullivan inc frsl nd qtr jan shr profit cts vs loss two cts net profit vs loss revs vs st half shr profit cts vs loss eight cts net profit vs loss revs vs reuter 
trade	s korean trade surplus with u s seen falling south korea s record billion dlrs trade surplus with the u s is bound to diminish as the country switches purchases from japan in favor of u s companies trade minister woong bae rha said he rejected suggestions the korean won is undervalued and denied any plans for a drastic and sudden revaluation rha is heading a trade mission to u s cities last year south korea ran a billion dlr trade surplus including a record billion surplus with the u s and a billion dlr deficit with japan rha told reuters in an interview the current trade mission is looking for billion dlrs in purchases from u s companies about a quarter of which represents transferred purchases from japanese sources rha said the items being sought by the current mission are mainly chemicals machinery and parts he said south korea is the fourth largest importer of u s agricultural products the current mission is not involved in that area but there are plans to buy substantial amounts of cotton from the u s he noted his country is clearly not as open as the american market nor is it reasonable to expect that it should be considering south korea has a billion dlr foreign debt and spends six pct of its gross national product on defense reuter 
earn	cri insured cii to set special distribution cri insured mortgage investments inc said its advisor will recommend a special distribution of cts per share due to the sale of a federally insured first mortgage on park meadows i in madison wis for dlrs it said it received a dlr return of capital and dlrs in income on the sale and the ct distribution would represent a ct return of principal and a ct capital gain and would be payable june to holders of record may reuter 
earn	kaneb energy partners ltd kep th qtr loss unit loss one ct net loss revs mln mths unit loss dlrs net loss mln revs mln note partnership formed in february net includes writedown of oil and gas assets of mln dlrs for mths to comply with full cost accounting methods reuter 
acq	digicon dgc completes sale of unit digicon inc said it has completed the previously announced disposition of its computer systems division to an investment group led by rotan mosle inc s rotan mosle technology partners ltd affiliate reuter 
acq	computer horizons chrz in acquisition computer horizons corp said it purchased computerknowledge inc a software training education company headquartered in dallas terms were not disclosed reuter 
acq	policy management pmsc makes acquisition policy management systems corp said it has acquired the majority of the assets and business of allied research inc of salem ore and consolidated insurance services inc of springfield va for undisclosed terms it said the two companies which had combined revenues of about two mln dlrs provide underwriting information services to property and casualty insurers reuter 
acq	unicorp canada uni a cuts purolator pcc stake unicorp canada corp told the securities and exchange commission it cut its stake in purolator courier corp to shares or pct of the total outstanding from shares or pct unicorp a management and investment holding company controlled by its chairman george mann said it sold purolator common shares on march and at and dlrs a share purolator agreed this past weekend to be acquired by managers of its u s courier business and e f hutton lbo inc in a leveraged buyout valued at mln dlrs reuter 
acq	firm acquires american nutrition works inc nusource investments inc a publicly held shell company said it acquired american nutrition works inc through a transaction in which american nutrition shareholders received mln shares of nusource stock in exchange for their shares american nutrition operates a chain of stores sellings vitamins and health products nusource said shareholders elected a new board consisting of richard a trydahl samuel mineo and charles e flink and voted to change the name of the company to anw inc reuter 
trade	gatt council defers decision on semiconductors the ruling gatt council deferred a decision on whether to set up a dispute panel on the basis of a european community complaint against the u s japanese agreement on exports of computer semiconductors david woods spokesman of the general agreement on tariffs and trade gatt told a news briefing that the main parties would continue bilateral talks this was in the hope of resolving the row before the next council meeting on april the five year accord signed in july aims to protect the u s market from dumping of low price japanese microchips officially known as semiconductors the e c complained the accord breached gatt trade rules by allowing tokyo to monitor prices allowing it to set minimum prices for japanese chips sold in third countries the nation community also charged the agreement gave u s producers preferential access to the japanese market woods said many nations hong kong canada switzerland singapore sweden malaysia and nigeria had supported the ec complaint during the heated council debate japan s delegate minoru endo and u s ambassador michael samuels replied in the debate that the e c charges were unfounded but they were willing to continue bilateral talks reuter 
acq	first southern fsfa to make acquisition first southern federal savings and loan association said it has agreed in principle to acquire horizon financial corp and horizon funding corp from victor federal savings and loan association of muskogee okla for undisclosed terms the company said the purchase is subject to approval of the boards of first southern and victor and regulatory agencies horizon financial services mortgage loans and horizon funding is a wholesale loan purchasing operation horizon services billion dlrs in mortgage loans reuter 
earn	danaher corp dhr th qtr net shr cts vs cts net vs rev mln vs mln year shr dlrs vs dlrs net vs rev mln vs mln reuter 
acq	firm agrees to merge with lotoquik int l chatsworth enterprises inc a publicly held shell corporation said it signed a letter of intent to merger with lotoquik international ltd a nassau bahamas based maker of video lottery machines under terms of the merger agreement chatsworth said lotoquik shareholders would own a majority of the surviving company reuter 
acq	asbestec to buy contractor receives contract asbestec industries inc said it signed a letter of intent to buy asbestos abatement contractor p w stephens for three mln dlrs in cash stock and notes the transaction is expected to be completed early in the third quarter of its fiscal year ending september asbestec also said it expects to sign march six a dlr contract to remove asbestos from a major apartment complex in washington d c the project is scheduled to begin on march nine reuter 
trade	gatt sets up dispute panel on canadian herring the ruling gatt council set up a formal dispute panel to examine a u s complaint that a canadian law prohibiting export of unprocessed herring and salmon was discriminatory david wood official spokesman of the general agreement on tariffs and trade gatt told a news briefing the decision was taken after bilateral consultations failed to resolve the row u s ambassador michael samuels charged during the council debate that canada was trying to preserve domestic jobs by insisting that herring and salmon be processed at home robert white canada s deputy chief of delegation replied the law was in line with gatt rules and was for conservations reasons but he agreed to setting up the dispute panel reuter 
earn	talking point general motors gm general motors corp staged an explosive rally on wall street after a share buyback program announced yesterday but analysts said gm s future remains clouded by stiff competition and erosion of market share gm shares rose to in active trading analysts agreed that investors liked the repurchase program but they differed sharply over the carmaker s long term prospects i m very positive on gm said jack kirnan of kidder peabody and co they re clearly committed to enhancing shareholder value however some analysts worry about how gm will pay for the buyback and whether new models will enable the carmaker to recapture lost market share after the market had closed yesterday gm said it would buy back pct of its common stock by the end of the announcement sent investors today scrambling for gm shares with more than mln shares changing hands by mid day the buyback plan caused several analysts bullish on the stock to reiterate buy recommendations this morning and at least one increased his earnings estimates for gm based on a good performance expected from new car models but david healy of drexel burnham lambert inc said the repurchase program is not a positive the buyback doesn t really change the earnings outlook and puts more stress on the balance sheet he said since gm will have to borrow money to pay for the stock purchases the stock should settle back down to around he added healy projects gm will earn five dlrs a share in and dlrs in compared to earnings of dlrs healy s numbers are near the low end of wall street estimates which range from five dlrs to dlrs in and from four dlrs to dlrs in like other analysts healy sees gm s share of the domestic car and truck market falling in on balance gm cars are not selling as well as their competitors he said in late february gm car sales fell pct from the year ago period while competitors ford motor co f and chrysler corp c both posted increases but gm said february sales showed improvement over january adding that it expects improvement in coming months overall gm s share of u s car and truck sales should fall to around or pct in from pct at the end of analysts said the numbers include imports kidder peabody s kirnan said cost reductions and product improvements this year should lead to positive cash flow by the fourth quarter which will help gm finance the buyback gm stock has been a real laggard and now it s rolling up its sleeves and getting serious i think there s a major earnings surprise in the winds he said kirnan raised his earnings estimates slightly today in part in reaction to the announced buyback and sees gm earning dlrs this year and dlrs in the company is more concerned than ever about improving their relative valuation with respect to ford and chrysler he said another positive for the stock is gm s dividend currently five dlrs a share annually which gives it a higher yield than its competitors kirnan said and gm will raise the cash dividend to cts a share next year he predicted but analyst michael lucky of shearson lehman brothers inc said u s car sales will weaken and gm s new products if successful will only slow but not halt the erosion of its market share i believe their new cars will be successful but that will only curtail losses in market share which will fall to around pct by lucky said philip fricke of goldman sachs and co falls in the middle of the bulls and bears while he is recommending gm stock he said results will not improve until i m not looking for improvement this year this is a transition year for gm he said fricke who estimates earnings at dlrs and at dlrs said cost cutting and new car models will not affect results but the key thing isn t so much what they earn this year it s the momentum beyond this year that s important reuter 
acq	partnership cuts stake in erc international erc parsow partnership ltd a nevada investment partnership said it lowered its stake in erc international inc to shares or pct of the total outstanding common stock from shares or pct in a filing with the securities and exchange commission parsow said it sold erc common shares between jan and march at prices ranging from to dlrs each the partnership said its dealings in erc stock are for investment purposes and it has no intention of seeking control of the company reuter 
crude	iranian oil minister due in algeria on friday iranian oil minister gholamreza aqazadeh is expected here on friday for talks with his algerian counterpart belkacem nabi the official algerian news agency aps said today aqazadeh who will be accompanied by a large delegation will have talks on bilateral relations in the field of energy and exchange views with algerian officials on the current world energy situation it said reuter 
earn	goldome fsb year net net mln vs mln note company is mutual savings bank reuter 
earn	bear automotive service bear th qtr oper net oper shr cts vs cts oper net vs sales mln vs mln avg shrs vs year oper shr cts vs cts oper net vs sales mln vs mln avg shrs vs note full company name is bear automotive service equipment co oper shr excludes extraordinary profit from utilization of tax loss carryforward of dlrs or four cts a share and mln dlrs or cts a share respectively in qtr and year and of dlrs or nine cts a share and mln dlrs or cts a share respectively in qtr and year year oper net excludes loss from cumulative effect of change in accounting principle of dlrs or one ct a share reuter 
crude	u k oil industry said not permanently damaged the u k offshore oil industry has suffered from last year s collapse in oil prices but should not sustain any permament damage minister of state for energy alick buchanan smith said the drilling diving and supply vessels sectors had been most affected buchanan snith told the house of commons energy committee he noted however that oil companies were still spending six mln stg a day to maintain north sea production he added that a report by the manpower services committee which said jobs were lost in the industry in should be seen in the context of a total workforce of prices of north sea brent grade crude dipped to a low of dlrs a barrel last july from a peak of over dlrs the previous november they recovered to around dlrs a barrel after last december s opec meeting and brent traded today around dlrs buchanan smith said the u k has no intention of adopting opec style quotas noting that britian is an oil consuming as well as an oil producing nation reuter 
acq	chase manhattan studying italian expansion chase manhattan bank n a is considering expanding its operations in italy particularly in the consumer banking sector a chase manhattan official said robert d hunter chase manhattan area executive for europe africa and the middle east said at a news conference that plans to broaden the bank s activities on the italian market have not been finalised however asked if chase manhattan would consider an acquisition in italy hunter said we will look at any opportunity but the prices of italian banks have been quite high chase manhattan has branches in milan and rome reuter 
acq	hrs ihirf reducing stake in hal roach hrsi international h r s industries inc said it would reduce its stake in hal roach studios inc to pct from pct in return for mln u s dlrs from qintex inc s qintex america media ltd unit h r s said that under the deal s first stage closng march it would sell qintex hal roach shares at seven u s dlrs a share each for a total of mln dlrs and roach will repay h r s mln u s dlrs of advances qintex will also complete the mln u s dlr buy of mln roach treasury shares at seven dlrs each and provide roach with mln u s dlrs of financing for expansion h r s said h r s said that the agreement also provided for a second stage over one year in which it had a put option exercisable one year from closing to sell qintex all or part of its two mln roach shares for u s dlrs a share it said qintex had a day call option exerciseable nine months from closing to buy from h r s all or part of one mln roach shares at the greater of dlrs each or the average roach share price for three months before exercise date qintex will also acquire another mln roach treasury shares at seven dlrs a share months after closng for another mln dlrs h r s said reuter 
earn	total still expects billion franc loss french oil group total cie francaise des petroles tpn pa is still expecting a billion franc consolidated net loss including minority interests for after taking account of stock losses of billion francs the company said in a communique after a board meeting here in late january group president francois xavier ortoli told journalists that the slump in oil prices and the weak dollar had caused the stock depreciation turning a consolidated net profit before losses on stocks of six billion francs into a consolidated net loss of billion francs earlier today armand guilbaud president of total s refining and distribution subsidiary cie de raffinage distribution crd total france raff pa told journalists that had marked a return to profit for the subsidiary before stock depreciation crd made a net profit before stock depreciation and currency factors of billion francs last year after a billion loss in but its net loss last year taking account of that depreciation as well as currency fluctuations was billion francs after a billion loss in in crd s sales fell pct to mln tonnes from mln due to the growth in imports by independent distributors following a relaxation of regulations guilbaud said the subsidiary is expecting to cut its workforce to this year and in from last year under a job reduction scheme which will eventually save the group mln francs he said concerning business in he said that january was a good month but the situation deteriorated in february reuter 
earn	steego corp stg rd qtr jan loss oper shr loss cts vs loss cts oper net loss vs loss sales mln vs mln nine mths oper shr loss nine cts vs loss two cts oper net loss vs loss sales mln vs mln note current nine mths net includes dlr pretax gain on sale of property prior year net both periods includes pretax gain dlrs on pension plan termination current quarter net includes dlr tax credit prior year net includes losses from discontinued operations of dlrs in quarter and dlrs in nine mths results restated for discontinued operations reuter 
earn	e systems inc esy sets quarterly qtly div cts vs cts prior pay april one record march reuter 
crude	texas oil regulator calls for state tax breaks texas railroad commissioner james nugent saying that the ailing oilpatch cannot wait for congress to act today urged texas state lawmakers to adopt incentives to find new oil reserves and to exempt severance taxes on oil produced from stripper wells nugent said in a speech to the texas house of representatives that the state must take the initiative in molding u s energy policy and finding new ways to assist troubled oil producers his proposal to revitalize texas oil industry would exempt stripper wells that produce barrels of oil or less each day from the state s pct severance tax he said that the majority of texas oil wells fall within the stripper well category and a price swing of two to three dlrs a barrel can be crucial in determining if the well remains in production nugent also called for state lawmakers to exempt new wildcat wells from the state severance tax for up to five years as a financial incentive to explore for new oil reserves secondary and tertiary oil production expensive methods of production that inject water or gas into the ground to recover oil should also be exempted from the severance tax nugent said his plan would exempt existing secondary and tertiary wells that produce at a rate of less than three barrels a day for three years or until the price of oil reaches a barrel we ve been sitting back and waiting on two federal administrations to develop a coherent energy policy for the nation to follow i say we have waited long enough nugent said in other words let s tell washington to either lead follow or get out of the way nugent said that the financial losses to the state treasury by exempting marginal oil production from state severance taxes would be more than made up by stimulating new business for the oil supply and service industry reuter 
earn	unicorp american corp uac sets quarterly qtly div cts vs cts prior pay march record march reuter 
earn	liberty financial group lfg regular dividend qtly div cts vs cts in prior qtr payable march record february reuter 
earn	pactel pac sees earnings growth pacific telesis group chairman donald guinn told a meeting of security analysts that the company sees continued earnings growth in above the billion dlrs or dlrs per share earned in guinn also said that capital spending stood at about billion dlrs in and the company expected the figure to remain flat each year through he noted that all captial spending will be internally financed guinn also told analysts that the company faced some regulatory uncertainties in ongoing rate cases at its pacific bell operating company in rates hearings before the california public utility commission guinn said the company faced a potential mln dlr revenue reduction and due to ongoing discussions with the commission he said the figure might even be greater the company also faces some opposition to a mln dlr rate hike requested for guinn said the commission found mln dlrs of the hike was based on questionable calculations and assumptions while mln dlrs might represented unneeded modernization costs guinn also said that the company is still studying whether to join an international consortium that plans to lay a transpacific telephone cable between the u s and japan we have not agreed to anything guinn said but added he would soon recieve a feasibility study on the venture and the company would make a decision soon on participating asked by an analyst about the recent recommendation by the u s department of justice which would allow the bell operating companies to offer limited long distance services guinn said the company would likely shy away from that type of expansion long distance services is a very competitive business it s a commodity business and becoming more so he said i m not so sure we would be interested in getting back into that business however guinn generally applauded the u s recommendations saying they would give more latitude for the bell operating companies to expand into non regulated businesses and provide more flexibility to form strategic alliances with other companies he added that while the company welcomes the expansion into new areas it is not currently involved in any acqusition talks we do not have anything actively under consideration he said reuter 
acq	trans world airlines makes dlr share cash merger proposal for usair 
earn	unicorp american corp uac th qtr net shr cts vs cts net vs revs mln vs mln year shr cts vs dlrs net mln vs mln revs mln vs mln avg shrs mln vs mlnm note year net includes gain mln dlrs from sale of eight real estate properties reuter 
ship	kenya signs pact to establish own shipping line kenya has signed an agreement with british and german interests to establish a shipping line that will handle pct of the country s external trade sources close to the deal said the state owned kenya ports authority kpa signed an agreement with the hamburg based shipping line unimar seetransport to establish the kenya national shipping line with an initial capital of mln shillings sources said kpa will hold pct of the shares in the new company the line will initially charter vessels to operate services between mombasa and the main ports of industrial europe but may eventually build or buy its own ships the sources said it would aim to carry a large part of kenya s coffee and tea exports and oil and fertiliser imports reuter 
earn	shaw s supermarkets inc shaw year jan shr dlrs vs dlrs semi annual div six cts vs six cts prior payment net mln vs mln sales billion vs mln note dividend is payable april one to holders of record march nine reuter 
acq	dynamics corp dya in settlement with cts cts dynamics corp of america said it has reached an agreement with cts corp resolving all differences between the two companies it said as a result of the settlement cts s special board committee has stopped soliciting orders to purchase some or all of cts dynamics which now owns pct of cts outstanding stock said it agreed to limit its shareholdings to not more than pct of the outstanding shares for a year following the company s annual meeting dynamics said the cts board will recommend cts shareholders vote at the annual meeting in favor of the company paying dynamics dlrs as a reimbursement for its cts releated costs and granting dynamics an option to buy enough cts common at dlrs a share to give it ownership of pct of the outstanding stock dynamics said the price of stock under the option exercisable for one year is based on the average closing price for the stock for the five days ending march two dynamics said cts chairman george f sommer will assume the additional title of president former president robert d hostetler is resigning as a director as is chief financial officer gary b erekson ted ross and donald j kacek dynamics said the cts board will be reduced to seven members for eight with the remaining four members of the current board and three representatives of dynamics as new directors reuter 
grain	renewal of u s ussr grain pact said uncertain prospects for renewal of the five year u s ussr grains agreement are uncertain at this point a soviet trade official told reuters the current trade imbalance between the united states and the soviet union high u s commodity prices and increased world grain production make a renewal of the supply agreement next year less certain albert melnikov deputy trade representative of the soviet union said in an interview the current agreement expires on sept melnikov said that world grain markets are different than when the first agreement was signed in statements from both u s and soviet officials have indicate that a long term grains agreement might not be as attractive for both sides as it once was we have had one agreement we have had a second agreement but with the second agreement we ve had difficulties with prices melnikov said i cannot give you any forecasts in response to the future about the agreement i do not want to speculate on what will happen after sept he said melnikov noted that he has seen no indications from soviet government officials that they would be pushing for a renewal of the agreement the situation is different in comparison to three five or ten years ago we can produce more he said reuter 
earn	danaher dhr expects earnings increase in danaher corp said it expects higher earnings in versus we expect significant increases in earnings and revenues in steven rales danaher chairman and chief executive officer said earlier the company reported net earnings of mln dlrs or dlrs a share versus mln dlrs or dlrs a share in it also reported fourth quarter net of mln dlrs or cts a share up from mln dlrs or cts a share in the previous year s fourth quarter reuter 
earn	danaher corp dhr th qtr net shr cts vs cts net vs rev mln vs mln year shr dlrs vs dlrs net vs rev mln vs mln note fourth qtr net includes extraordinary gain of mln dlrs or cts per share versus mln dlrs or cts a share in s fourth qtr and an extraordinary charge of dlrs or six cts a share net includes extraordinary gain of mln dlrs or cts a share versus mln dlrs or cts a share in reuter 
acq	twa twa makes merger offer for usair u trans world airlines said it has proposed a cash merger of usair group with twa in which the holders of usair common would receive dlrs in cash in exchange for their stock twa said the offer was made in a letter to edmin colodny chairman and president of usair twa said however that if the negotiated deal is not acceptable it may make an offer directly to usair s shareholders for up to pct of usair s outstanding stock to be purchased in a voting trust at a price lower than today s offer twa said it is filing an application with the department of transportation seeking approval of the merger as well as an application for approval on an expedited basis of its purchase of up to pct of usair common and the deposit of the stock in a voting trust pending dot approval twa said that in respect to usair s recent offer for piedmont aviation pie it believes that usair s shareholders would prefer a cash merger proposal for usair over its proposed acquisition of piedmont twa said however it also would be interested in discussing a three way deal among usair piedmont and twa twa said the merger is subject to the usair board redeeming the preferred stock purchase rights the poison pill issued to shareholders last year and taking action so that the vote of a majority of the outstanding common stock is required to approve its proposed move additionally twa said it would need a satisfactory due diligence review of usair twa said it has not yet had an opportunity to obtain the necessary financing for the deal but added it is confident that it will get it reuter 
acq	cts cts and dynamics dya reach accord cts corp and dynamics corp of america reached an agreement resolving all outstanding differences between them according to a joint statment as a result of the settlement a special committee of the board of directors of cts stopped soliciting offers to buy all or part of the company it said cts and dca also agreed to dismiss all pending litigation between the two companies except for one appeal pending before the u s supreme court relating to the indiana control share chapter it said under the agreement the cts board will immediately be reduced to seven from eight with four current directors and three representatives of dca being elected to the board it said this board will be presented as the slate for cts annual shareholders meeting it added cts directors will recommend to shareholders that they approve reimbursement to dca of about mln dlrs in expenses relating to cts and grant dca an option to buy up to pct of cts shares it said in addition dca said it agreed to limit its ownership in cts for the year following the annual meeting to not more than pct of the outstanding stock dca currently holds pct of the outstanding shares of cts both companies said they support the agreement and believe it to be fair to both sides reuter 
acq	measurex mx sells south african unit measurex corp said it completed the sale of its measurex south africa pty subsidiary to a group of employees who manage the operation measurex a maker of computer integrated manufacturing systems said the subsidiary represented less than one pct of worldwide revenues and the sale will have no impact on this year s earnings reuter 
acq	jefferies making market in usair u jefferies and co said it is making a market in the stock of usair group inc at to usair received an offer from trans world airlines to buy the airline at dlrs cash per share usair was halted on the new york stock excahnge for dissemination of the news it was indicated at to reuter 
earn	trans lux tlx sets five pct stock dividend trans lux corp said its board declared a five pct stock dividend payable april nine to holders of record march the company said directors also declared regular quarterly dividends on presently outstanding shares of both classes of common payable april nine to holders of record march it said an unchanged dividend of two cts will be paid on the common and cts on the class b stock reuter 
earn	kaneb energy partners ltd kep th qtr loss shr loss one cent net loss revs mln mths shr loss dlrs net loss mln revs mln note in february kaneb services inc contributed all of its domestic oil and gas operations to kaneb partners which was newly formed and exchanged approximately depositary units respresenting limited partnership interests in kep for approximately million shares of the outstanding common stock of kaneb servies inc kaneb now owns approximately pct of kep during the mths of operation the partnership wrote down the carrying value of its oil and gas properties by mln dlrs the write downs reduced income by dlrs per limited partnership unit reuter 
earn	dalton communications inc dalt rd qtr jan shr profit three cts vs loss two cts net profit vs loss revs mln vs mln nine months shr profit five cts vs profit six cts net profit vs profit revs mln vs mln reuter 
earn	correction shaw s supermarkets earnings in item headlined shaw s supermarkets inc shaw year jan please read per share earnings drs vs dlrs correcting order of results reuter 
earn	wtd industries inc wtdi rd qtr jan net shr profit cts vs loss one ct net profit vs loss sales mln vs mln avg shrs vs nine mths shr profit cts vs profit cts net profit vs profit sales mln vs mln avg shrs vs reuter 
acq	healthvest hvt sells shares healthvest a maryland real estate investment trust said it began selling five mln shares of common stock at dlrs a share the company said it is also selling shares to healthcare international inc hii giving the company a pct stake in healthvest reuter 
earn	e systems esy sets qtrly payout qtrly div cts vs cts prior pay april record march reuter 
earn	piedmont management co inc pman th qtr shr cts vs dlrs net mln vs mln year shr dlrs vs dlrs net mln vs mln note year th qtr include capital gains of mln dlrs and mln dlrs respectively and extraordinary gain of mln dlrs and mln dlrs respectively year and th qtr include capital gains of mln dlrs and mln dlrs respectively and extraordinary gain of mln dlrs reuter 
earn	eastpark realty trust ert th qtr net shr dlrs vs cts net vs rev vs year shr dlrs vs dlrs net vs rev mln vs mln note fourth qtr and had gains on real estate investments of dlrs or a share and dlrs or a share respectively this compares with a loss of dlrs or cts a share and again of mln dlrs or a share for the fourth qtr and year respectively in reuter 
earn	nl industries inc nl sets qtrly payout qtrly div five cts vs five cts qtr pay april one record march reuter 
earn	wtd industries inc wtdi rd qtr jan net shr profit cts vs loss one ct net profit vs loss revs mln vs mln avg shrs vs nine mths shr profit cts vs profit cts net profit vs profit revs mln vs mln avg shrs vs note company went public in october reuter 
earn	alaska air group inc alk qtly dividend shr four cts vs four cts prior qtr pay may five record april reuter 
acq	usair u has no comment on twa twa offer usair group inc said it had no comment on an offer it received from trans world airlines to buy usair for dlrs cash per share usair spokesman david shipley also declined comment on piedmont aviation inc pie usair has offered dlrs cash per share for half of piedmont s stock and dlrs in its own stock for the balance piedmont also received an offer from norfolk southern corp nsc of dlrs cash per share piedmont s board was meeting today but the company declined to say what was on the agenda a spokesman said he could not comment on the twa action a norfolk southern corp nsc spokesman said the company had no comment on twa s offer for usair or on its proposal to negotiate a three way merger between twa usair and piedmont we don t have all the details a norfolk southern spokesman said the company s dlr a share cash offer for piedmont stands he said in its offer twa said as an alternative to a merger with usair it would be interested in discussing a three way combination among usair piedmont and twa it said the three way merger would serve the best interests of the shareholders of all three companies employees and consumers reuter 
earn	leaseway transportation corp ltc qtly div qtly div cts vs cts prior pay april eight record march reuter 
acq	itel itel gets financing for anixter buy itel corp said it obtained commitments from a syndicate of banks for a six year secured loan of about mln dlrs and had separately filed registration statements for two public offerings for a total of mln dlrs to fund its december acquisition of anixter bros inc it said one of the offerings will be a new mln dlrs issue of convertible exchangeable series c preferred and the other will be a mln dlr issue of seven year senior subordinated notes both offerings will be through merrill lynch capital markets it said a portion of the proceeds from the offerings together with the proceeds form the new bank loan wll be used to repay the mln dlr bridge loan merrill lynch and co inc mer provided for itel to buy anixter itel said the banks it obtained commitments from include manufacturers hanover trust co mhc chemical bank of new york and the first national bank of chicago reuter 
acq	great american gta gains over mln in loans great american first savings bank said the bank recorded gains exceeding mln dlrs on sales of loans and mortgage securities valued at billion dlrs the san diego based bank said in a prepared release of its report to analysts here that the gains included mln dlrs in arbitrage profits from the premium paid for the separation of interest and principal components of new federal national mortgage association strip securities the bank said it reported a profit of more than mln dlrs on the transaction involving mln dlrs of fnma securities including the arbitrage gain great american recently announced plans to acquire capital savings bank olympia wash and last year acquired home federal savings and loan association tucson ariz and los angeles federal savings bank which resulted in new offices and three billion dlrs in assets the bank also said it plans to expand into other major western banking markets and is considering an acquisition in colorado reuter 
acq	tandy brands tab sells unit tandy brands inc said it sold its grate home and fireplace division to an investor group that includes some members of grate s management for dlrs in cash and secured notes the company said the sale will not materially offset the dlr non recurring charge it took against the sale of the division reuter 
earn	browing ferris bfi declares for split browning ferris industires inc said its board declared a two for one stock split payable april to holders of record march reuter 
earn	pennwalt corp psm qtly dividend qtly div cts vs cts prior payable may one record april three reuter 
acq	banner industries inc bnr completes purchase banner industries inc said it completed the purchase of all rexnord inc rex common shares for its dlrs per share cash tender offer that ended feb the purchase follows banner receiving earlier today mln dlrs under a credit agreement with citicorp industries credit inc and the bank of nova scotia and an additional mln dlrs from offerings made for banner and its subsidiary through drexel burnham and lambert as a result of the tender offer banner said it will own approximately pct of the outstanding shares of rexnord the company said a merger of rexnord and a subsidiary of banner will be completed before mid may reuter 
crude	murphy raises crude oil posted prices one dlr bbl wti to dlrs today 
acq	phoenix steel receives offer for claymont mill phoenix steel corp said a group of investors offered to buy its clayton steel plate mill for eight mln dlrs and the assumption of a bond obligation phoenix did not disclose the indentity of the investors phoenix was forced to close the clayton mill last month the company said the offer represents a major step in restructuring the company reuter 
earn	keane inc kean th qtr shr cts vs cts net vs revs mln vs mln year shr cts vs cts net vs revs mn vs mln note shares adjusted to reflect the distribution of one share of class b common stock for every two shares of common stock held of record as of july reuter 
acq	viacom via merger expected in to days sumner redstone president of national amusements inc predicted he can win regulatory approvals to wrap up the billion dlr acquisition of viacom international inc in to days redstone catapulted himself into the big leagues of entertainment early today when a group of viacom managers and their financial backers decided not to top national s bid we ve had counsel working for some time in every region where viacom has cable televison systems redstone told reuters in a telephone interview redstone also said viacom is committed to working very closely with us to obtain approvals viacom has been seeking approvals for transfer of its broadcast licenses and cable systems since september when its management group first advanced a buyout plan but redstone turned the situation into a spirited bidding contest which was capped by the announcement this morning that viacom s independent directors on behalf of viacom entered into a defintive merger agreement with national national is a family business which operates a chain of movie theaters it is dwarfed by viacom redstone said he was weary after talks dragged on through the night but also excited at the prospect of running a leading electronic media company he noted that the number of motion picture admissions in the u s has shown no growth in years of nine satellite television channels operated by viacom four are motion picture oriented pay channels redstone said exclusive contracts with pay television networks are the emerging trend up until recently you could see any motion picture on any pay channel redstone said he noted viacom has exclusive agreements with two studios and plans to sign a deal with a third company next month redstone said the management group s investment bankers will be paid what is due for termination of its merger agreement such fees could total about mln dlrs that will be a company expense redstone said he said bankamerica bac corp has had numerous inquiries from lenders who want to participate in a billion dlr financing for the deal bankamerica will provide mln dlrs after the merger viacom will be a subsidiary of national but pct of the company will be in public hands reuter 
trade	british aide criticizes u s protectionism a senior british official said that protectionist bills being considered by congress could trigger retaliation by the european community eec and threaten the global trading system paul channon secretary for trade and industry said if congress passed legislation to curb textile imports which would hit ec shipments as well as shipments from major asian textile producers the community would have to retaliate his comments echoed those made yesterday by belgian trade minister herman de croo who said if the bill passed the community would retaliate by imposing taxes on u s exports channon made his remarks at a news conference after two days of talks with reagan administration officials and members of congress de croo was also in washington for trade talks channon said there was a greater protectionism sentiment in congress since his visit here last year as congress and the administration tried to find ways to reduce the u s trade deficit which last year hit a record billion dlrs channon also called for greater ec u s cooperation to force japan to open its markets to foreign goods channon said japan s trade surplus is causing everyone problems its surplus with the united states last year was billion dlrs and with ec nations billion dlrs the more united pressure there could be the better he said channon also called for increased u s ec cooperation to avoid trade disputes he said the two sides narrowly avoided a confrontation earlier this year over lost grains sales when spain and portugal joined the community and its liberal imports regulations were tightened to conform to ec standards but if both sides drew back from the brink that time he said it does not mean that they would do so on another occasion channon added that there is increasing reesentment in europe over the u s tactic of negotiating under the pressure of unilaterally imposed deadlines he said other potential conflicts are already in sight alleged european government subsidies of airbus aircraft and taxes on fats and oils and the commuity and the united states must therefore learn to manage their relations better he said another bill to let the united states retaliate against a nation if that nation s market was not open to u s goods would bypass the trade pact gatt general agreeeement on tariffs and trade as an arbiter of trade practices he said foreign trade law should be judged by gatt and not by the united states adding if the trade law is to be interpreted by the united states and not by the gatt what is to happen to the rest of us reuter 
earn	nl industries inc nl set regular payout qtly div five cts vs five cts prior pay march record march reuter 
earn	general host gh sees year loss general host corp said it will report a loss from continuing operations and a sharp decline in net income for the year ended january due to substantial operating losses in its frank s nursery and crafts unit for the year ended january general reported net income of mln dlrs the company said it discovered problems in its unit s computerized accounts payable system it said results of its other nursery and craft unit flower time inc are not affected it said its accountants are investigating the problem which will delay release of its full year results reuter 
earn	medtronic inc mdt sets payout qtly dividend cts vs cts pay april record april reuter 
earn	louisville gas and electric co lou dividend qtly dividend cts vs cts pay april record march reuter 
acq	robertson ups capital wire cwcc stake to pct new york investor julian robertson and several investment partnerships he controls said they raised their stake in capital wire and cable corp to shares or pct of the total from or pct in a filing with the securities and exchange commission robertson and his tiger jaguar puma and tiger management co entities said they bought capital wire common shares between feb and at dlrs a share robertson said his group has spent a total of mln dlrs on its investment in the company so far reuter 
acq	twa twa tangles piedmont pie situation trans world airlines inc complicated the bidding for piedmont aviation inc by offering either to buy piedmont suitor usair group or alternatively to merge with piedmont and usair piedmont s board was meeting today and wall street speculated the board was discussing opposing bids from norfolk southern corp and usair the twa offer was announced shortly after the piedmont board meeting was scheduled to begin twa offered to buy usair for dlrs cash per share it also said it was the largest shareholder of usair and threatened to go directly to usair shareholders with an offer for pct of the stock at a lower price twa also said it believed its offer was a better deal for usair shareholders than an acquisition of piedmont but it said it alternatively would discuss a three way combination of the airlines market sources and analysts speculated that twa chairman carl icahn made the offer in order to put his own airline into the takeover arena we re just wondering if he s not just trying to get twa into play there s speculation on the street he just wants to move onto somthing else said one arbitrager we think twa might just be putting up a trial balloon analysts said the offer must be taken seriously by usair but that the airline will probably reject it because the price is relatively low compared to other airline deals they also said icahn must prove his offer credible by revealing financing arrangements they need to show their commitment and their ability to finance i think it s a credible offer said timothy pettee a bear stearns analyst i think it s certainly on the low end of relative values of airline deals said pettee pettee estimated dlrs would be in a more reasonable range based on other airline mergers usair stock soared after twa made public its offer a spokesman for usair declined comment and said usair had not changed its offer for piedmont usair offered of buy pct of that airline s stock for dlrs cash per share and the balance for dlrs per share in usair stock usair closed up at on volume of mln shares piedmont which slipped to close at also remained silent on the twa action piedmont has an outstanding dlr cash per share offer from norfolk southern corp norfolk southern declined comment but said it stuck with its offer for piedmont norfolk owns about pct of piedmont and opened the bidding when it said it would propose a takeover of piedmont some analysts said icahn may be trying to acquire usair to make his own airline a more attractive takeover target icahn i think had wanted to sell his airline and there were no takers i think the strategy might have called for making his investment more attractive one way to accomplish that specific objective is to go out and acquire other airlines said andrew kim of eberstadt fleming i don t know whose going to buy them but at least this way it becomes a much more viable package said kim but icahn s financing ability for such a transaction remains in doubt in part because of twa s heavy debt load wall street sources said twa has some cash with which to do the offer the sources said icahn has not lined up outside financial advisers and plans to make his own arrangements icahn earlier this year abandoned plans to buy usx corp x and still retains pct of that company s stock some wall street sources said the financier s usx plan was impacted by the cloud hanging over his adviser drexel burnham lambert inc because of wall street s insider trading scandal industry sources also predicted usair might reject the twa offer on price and financing concerns it s littered with contingencies and it doesn t even have a financing arrangement said one executive at another major airline but the executive conceded a merged twa usair would be a strong contender with usair s east coast route system and planned west coast presence from psa usair could feed the intenrational flights of twa which has a midwest presence in its st louis hub adding piedmont dominant in the southeast to the mix would develop an even stronger force the combined entity would also have twa s pars reservation system such a merger would be complex and analysts said it would result in an airline iwth an pct market share reuter 
earn	forest oil corp foil th qtr shr loss cts vs profit eight cts net loss mln vs profit year shr loss dlrs vs profit cts net loss mln vs profit mln reuter 
trade	yeutter plans trade trip to china this summer u s trade representative clayton yeutter said he plans a july trip to china to discuss trade issues including china s admission to the general agreements on tariffs and trade yeutter told a congressional hearing it was possible china could be a member of gatt before the end of the year they are making major moves to becoming a full scale member of the world economy he told the house appropriations subcommittee which oversees his agency s budget depending on how the negotiations go on the terms of china s gatt membership yeutter said he could put the final touches on the u s part of the agreement during his trip the admission of china to gatt which is the multinational group of nations which negotiates international rules on trade would offer both potential export markets and potential competition for u s industries he said that has a lot of potential as well as risks for u s business yeutter said i think china will develop into a fine market for us he added reuter 
grain	u s cabinet council set to mull farm issues the reagan administration s cabinet level economic policy council is scheduled to meet friday to discuss among other issues the status of agricultural legislation administration officials said the officials said discussion of a u s agriculture department wheat export subsidy to the soviet union was not on the agenda matters not on the agenda however can be brought before the council the officials said grain trade officials have speculated that usda would make a wheat export enhancement offer to moscow but usda officials have said the matter is not under active consideration usda today transmitted to congress a package of legislative proposals including bills that would cut target prices and speed up loan rate reductions reuter 
earn	unicorp american corp uac th qtr net shr cts vs cts net vs revs mln vs mln mths shr cts vs dlrs net mln vs mln revs mln vs mln note net is before preferred dividend payments and includes after tax gain from sale of real estate properties of mln dlrs reuter 
acq	banner bnr completes rexnord share purchase banner industries inc said it completed the previously announced purchase of rexnord inc rex it said it owns pct of rexnord s outstanding following the purchase of all rexnord s common validly tendered pursuant to its dlr per share cash tender offer ended february banner also said it received mln dlrs pursuant to a credit agreement with citicorp industrial credit inc and the bank of nova scotia and mln dlrs from an offering made through drexel burnham lambert inc the merger of rexnord with a subsidiary of banner will be copmleted before mid may the company said reuter 
earn	ccl industries inc th qtr net shr cts vs cts net vs revs mln vs mln year shr cts vs dlrs net mln vs mln revs mln vs mln note shr profit relates to class b non voting shares reuter 
earn	g t c transcontinental group ltd st qtr net shr cts vs nine cts net mln vs mln revs mln vs mln avg shrs mln vs mln note period ended january reuter reuter 
acq	piedmont aviation recesses meeting without taking action on merger proposals 
earn	amvestors financial corp avfc th qtr net oper shr profit cts vs loss cts oper net profit vs loss revs mln vs mln year oper shr profit cts vs loss cts oper net profit vs loss revs mln vs mln note th qtr and yr oper net excludes dlrs and dlrs or cts per share respectively for realized investment gains qtr and yr oper net also excludes dlrs and dlrs respectively for tax loss carryforwards th qtr and yr oper net excludes realized investment gains of dlrs or cts per share and dlrs or cts per share respectively th qtr oper net also excludes a loss of dlrs for carryforward reuter 
acq	piedmont pie takes no action piedmont aviation inc said its board meeting recessed today without taking action on proposals to combine piedmont with other corporations piedmont has received opposing bids from norfolk southern corp and us air corp earlier today trans world airlines inc offered to either buy piedmont suitor us air or alternatively to merge with piedmont and u s air in a prepared statement piedmont said there would be no further announcements concerning this situation today the company declined to say when the board would meet again reuter 
trade	yeutter concerned about u s export picture u s trade representative clayton yeutter said he expects imports to fall soon but he was concerned about the lack of improvement in u s exports given the dollar s decline in the last months i m convinced we re about to see an improvement on the import side i m more concerned about the export side he told a house appropriations subcommittee part of the blame goes on other countries which have not generated the economic growth to increase demand for u s goods and part to some u s companies which are not generating competitive exports he said reuter 
trade	house trade bill drafting postponed the house ways and means trade subcommittee postponed until next week its opening session to start drafting major changes to u s trade laws a committee aide said the subcommittee had not yet completed the preparatory work to start writing the legislation the aide said reuter 
earn	lumonics inc year loss oper shr loss cts vs profit cts oper net loss vs profit revs mln vs mln avg shrs vs note loss excludes extraordinary loss of dlrs or cts shr including corporate reorganization discontinuing of u s operations and inventory writedown of u s subsidiaries vs yr ago loss of dlrs or cts shr reuter 
earn	hcc industries hcci quarterly dividend qtly div three cts vs three cts pay march record march reuter 
crude	southland slc unit raises crude prices southland corp s citgo petrleum corp said it raised the contract price it will pay for all grades of crude oil by one dlr a barrel effective today the increase brings citgo s posted price for west texas intermediate to dlrs a bbl west texas sour is also now priced at dlrs bbl and light louisiana south is posted at dlrs bbl on february citgo lowered its crude postings cts to dlrs per bbl and cut wti one dlr to reuter 
earn	western security bank th qtr net shr profit ten cts vs loss six cts net profit vs loss year shr profit cts vs profit cts net profit vs profit assets mln vs mln deposits mln vs mln loans mln vs mln reuter 
acq	wtc international waf sets south africa trust wtc international n v said it has sold its affiliates in south africa to an independent trust created to continue the operations in that country the purchase price was about mln dlrs represented by a ten year interest bearing note payable annually at pct to be paid by the trust out of proceeds from the south african operations the company said wtc said its board concluded in view of the social political and economic situatin in south africa it was best to separate the company from its interests there reuter 
ship	taiwan shipbuilder looks for japanese ventures taiwan s state owned china shipbuilding corp csbc plans to seek joint production agreements with japan and further diversify into ship repairing to try to trim its debts chairman louis lo said he told reuters in an interview that csbc s first joint production venture to build two hulls for onomichi dockyard co ltd was a success talks on similar projects have been held with other japanese firms including mitsubishi heavy industries co ltd mith t and ishikawajima harima heavy industries co ltd jima t he said lo said csbc delivered the hulls of two teu twenty foot equivalent unit container ships this year to onomichi which would complete production we expect the successful cooperation between us and onomichi will pave the way for further cooperation with other japanese shipbuilders in the future lo said he said japanese firms would gain from the lower cost of shipbuilding in taiwan while csbc would benefit from japanese technology and marketing this would pose a challenge to competitors in europe and south korea lo said csbc has made losses of about mln u s dlrs since beginning operations in its total debt now stands at about mln dlrs with annual interest payments of nearly three mln dlrs but he said the company which is taiwan s largest shipbuilder still has full government support and had begun diversifying into ship repairing and manufacture of pipes and other machinery we hope we can survive and prosper through diversification he said lo said income from ship repairing almost doubled to mln u s dlrs in the year ended june compared with the previous financial year he estimated income would rise to more than mln dlrs in csbc has orders to build ships totalling dead weight tons dwt this financial year compared with ships of dwt in he said lo said the prospects for shipbuilding were gloomy at least until due to overtonnage but the outlook for ship repairing was bright reuter 
crude	opec sticking firm on official prices subroto opec countries are all sticking firmly to official crude oil prices but the volatility of spot prices is likely to continue into the third quarter indonesian minister of mines and energy subroto told reuters subroto attending a pacific energy cooperation conference blamed recent rapid spot price changes on unbalanced supply and demand if we stick to the production limitation the third quarter will be in better balance he said the market is in a period of transition while the impact of opec s december agreement to cut output and fix prices at an average dlrs a barrel is worked through asked whether opec members of the gulf cooperation council gcc had any concrete proposals to help qatar sell its crude oil in the face of strong resistance to its official prices subroto said apparently they have taken care of that they the gcc meet very often among themselves i think they ll help each other he said subroto said that as he was not a member of opec s price differentials committee he did not know why the meeting had been postponed from its scheduled april date maybe they find it is better not to have the meeting because everyone is sticking to official prices he said reuter 
earn	hoechst group pre tax profit falls in hoechst ag hfag f said its group pre tax profit in would be slightly lower than the billion marks posted in while parent company pre tax profits rose slightly from the billion in group turnover fell slightly to billion marks from billion in and parent company turnover fell to around billion marks from billion the company said in a statement reuter 
earn	hk bank expected to post to pct profit rise the hongkong and shanghai banking corp hkbh hk is likely to show a rise in profit of between and pct for reflecting stronger than expected loan growth share analysts polled by reuters said their estimates of the bank s net earnings for last year ranged from to billion h k dlrs results will be announced on tuesday the net profit was billion they forecast a final dividend of cents for a total of cents for the year against cents in adjusted for a one for five bonus issue analysts said they expected the bank to recommend a bonus issue this year probably one for three or one for five the bank s pct subsidiary hang seng bank ltd hsgh hk is to report its results on friday analysts expect hang seng to announce net profit of more than one billion dlrs for the first time an increase of to pct they expect hang seng to pay a final dividend of dlrs for a total of dlrs for the year against in analysts said that while the use of undisclosed inner reserves by banks here makes forecasting very imprecise hongkong bank benefited from the unexpected strength of the hong kong economy in when gross domestic product grew by nearly nine pct against an initial forecast of pct they benefited considerably from the pickup in loan demand as their loan portfolio is well balanced an analyst at mansion house securities f e ltd said government figures show that total loans and advances rose by pct in compared with a pct increase in loans to finance hong kong s visible trade the mainstay of the local economy rose by pct against a decline of five pct in low interest rates also helped the bank interest received on loans was low with the prime rate at pct at end but interest paid on savings was two pct hongkong bank and hang seng bank control half of all deposits in the banking system giving them access to a large base of low cost funds the strength of the real estate market was another major income source for the bank group loans to finance property development and instalment mortgages rose sharply the hongkong bank group is still the leader in mortgage business despite tough competition from the bank of china group and other foreign banks one analyst said the high level of activity on the capital and equities markets in contributed to a sharp improvement in hongkong bank subsidiaries wardley ltd waia hk and james capel and co analysts said wardley had a tremendous year acting as financial adviser and underwriter an analyst said wardley was underwriter for last year s billion dlr flotation of cathay pacific airways ltd of which hongkong bank owned pct at the time the bank s stake has since been cut to pct in return for billion dlrs it also sold its entire pct stake in south china morning post ltd the larger of two english language daily newspapers here for billion dlrs the proceeds will go to reserves for acquisitions and will not show up in the profit and loss accounts analysts said analysts said the bank had also been helped by a reduced need to write off bad debts the need for provisions was much lower than the year before said tony measor of hong leong securities co ltd last year s profits should have been to billion dlrs if not for the huge provisions former hongkong bank chairman michael sandberg said the bank wrote off hundreds of millions of dollars against its shipping exposure in lesley nickolds of county securities asia ltd said she saw no major shipping writeoffs in she forecast profit of billion dlrs the bank s latin american exposure mainly through its pct owned marine midland banks inc mm appears to have improved substantially analysts said marine midland s fourth quarter loan loss provisions fell to mln u s dlrs from mln a year before its net profit rose to mln u s dlrs from mln in reuter 
acq	hughes tool directors reject merger with baker the directors of hughes tool co ht said they would recommend to shareholders that they reject a merger with baker international corp bko today hughes vice president ike kerridge said the recommendation would be put to shareholders at a meeting scheduled for a m local time gmt to discuss the proposed merger kerridge said the board met yesterday to discuss the merger but decided against it the hughes board objected to a u s department of justice requirement that baker sell off several specialised subsidiaries in businesses related to oil drilling the hughes board last week indicated that it might cancel the merger because of the department of justice requirement the board of directors of the california based baker had approved the merger on february baker said it had signed an agreement to sell one of the subsidiaries the companies had been given until april to comply with the justice department requirement kerridge said reuter 
earn	canon inc cann t year ended decmeber group shr yen vs net billion yen vs billion pretax billion yen vs billion operating billion yen vs billion sales billion vs billion note the company attributed the profit fall largely to the yen s appreciation during the period domestic sales rose pct to billion yen from a year earlier while exports declined pct to billion reuter 
trade	belgolux trade moves into surplus in the belgo luxembourg economic union bleu moved into a narrow trade surplus of billion francs in after a billion franc deficit in figures given by a spokesman for the national statistics institute show he said imports fell last year to billion francs from in while exports were also lower at billion francs against billion in december the bleu had an billion franc trade surplus after a billion franc surplus in november and a billion franc surplus in december reuter 
crude	papua new guinea plans resources investment agency the papua new guinea government will establish a public corporation to invest in resources projects minerals and energy minister john kaputin said we intend to provide a means through which less privileged individuals can become part owners and beneficiaries from the development of mining and petroleum projects he told parliament existing policy allowing the state up to pct equity in major mining projects and pct in oil and gas projects would be maintained he said the planned agency could take over the state s equity in current developments kaputin said papua new guinea was experiencing a boom with exploration companies spending about mln kina annually on about mining and petroleum projects the government is determined to ensure that papua new guinean ownership in minerals and petroleum projects increases in an orderly way he said kaputin did not say when the corporation would be established or exactly what form it would take but said the government would study whether it should be directly involved in exploration or development reuter 
money-fx	nigerian currency firms at latest auction the nigerian naira firmed pct against the dollar after banks were disqualified from bidding at today s weekly foreign exchange auction the central bank said the naira finished at to the dollar against last week only mln dlrs of the mln dlrs on offer was sold with all bidding banks successfully obtaining hard currency the effective rate including a central bank levy for transactions in the coming week was against last week the failure to sell the whole allocation was due to the central bank s unprecedented disqualification of banks as punishment for inadequate documentation in previous transactions banks are required to submit proof that their bids are based on valid commercial transactions and the central bank has complained in the past that many are failing to produce the right paperwork within the specified time reuter 
trade	u s tells japan to do more to cut trade surplus u s undersecretary of state for economic affairs allen wallis said he had urged japan to do much more to reduce its large trade surplus with the united states our central message to japan this week was that while we have made progress in some areas much needs to be done he told a press conference after three days of talks what we need is a resolution of trade issues we need visible efforts to restructure the economy to encourage more imports and we need greater domestic led growth forecasting sluggish economic growth in japan this year wallis urged tokyo to stimulate domestic demand to help reduce its trade surplus which hit a record billion dlrs in he named several areas of particular concern to washington computer microchips supercomputers kansai airport agricultural products and car telephones he warned that the u s japan agreement governing trade in semiconductors was in jeopardy despite the pact japanese producers are still dumping microchips in foreign markets other than the united states while u s penetration of the japanese market has not increased he said reuter 
trade	economic spotlight polish sanctions poland says u s sanctions have cost its economy billion dlrs and has made clear it wants washington to take a lead in repairing the damage after lifting remaining restrictions two weeks ago polish officials are unable to provide a precise breakdown of the figure saying it takes into account a number of hypothetical losses some of them are too sophisticated to convert into financial terms one banking source said but western economic experts say the effect of sanctions is impossible to calculate they say it is blurred by the poor performance of poland s economy and dismiss the billion dlr figure as illusory sanctions have provided a very useful excuse for under achieving they did have a bad effect yes but they only contributed to largely internal economic problems one said the u s imposed the measures and withdrew most favoured nation mfn trading status from poland in in retaliation for suppression of the solidarity free trade union under martial law the estimated cost to the polish economy was originally devised several years ago by the institute of national economy an offshoot of the central planning commission according to one western envoy an expert on polish economic affairs it extrapolated information on growth trends in trade with the united states as well as increases in credits from western commercial and government lenders but the calculations were based on a time when trade was booming and credits still flowed freely he said dismissing the estimate as a theoretical projection based on a high point which has no real scientific evaluation a foreign trade ministry official said polish exports to the u s in the late s averaged around mln dlrs annually and had fallen by half since the sanctions were imposed imports have suffered slumping from around mln dlrs to mln as credits ran out poland has a dwindling trade surplus with the west last year it was one billion dlrs against a targeted billion official figures show acknowledging that sanctions have lost poland important u s markets including agricultural equipment textiles chemicals and some foodstuffs western economists say credits dried up for economic not political reasons poland is accusing the west of letting economic relations deteriorate for political reasons said one expert it s an illusion based on a misunderstanding of western economy there s a limit to how much you can go on giving someone who has no hope of repaying it another said adding that poland had benefited from a global phenomenon of easy credits in the s which were no longer today s reality describing the billion dlr assessment as nebulous one diplomat said it also included losses of hypothetical orders and setbacks to polish research through the curbing of scientific links and exchanges western officials say the lifting of sanctions and new mfn status will have little impact on poland which has a hard currency debt of billion dlrs and lacks the means to modernise its industry mfn doesn t really mean anything only that poland will not be treated worse than other countries it will be difficult to regain access to the u s market because different forces are in play now said one western envoy he said polish products were not competitive and their quality was too low trade wars and possible protectionist measures amongst the u s japan and europe would also hamper poland s efforts to regain entry deputy foreign trade minister janusz kaczurba recognised this fact recently kaczurba told the official pap news agency recently making up our lost position will take a long time and be uncommonly difficult and in certain cases impossible in a period of two to three years it will be possible to increase the level of exports by only about mln dlrs while poland is unlikely to seek compensation it says it has a moral right to assistance from the u s which it says imposed the sanctions illegally but a western economist said the argument that u s sanctions were a unilateral torpedoing of the polish economy won t cut any ice the americans will just reply that the poles acted immorally in crushing solidarity nevertheless polish national bank head wladyslaw baka in talks in washington last week with the international monetary fund imf and world bank made it clear that poland was looking for a lead from the united states he was quoted by pap as saying that poland would meet its financial obligations to the united states but not in a short time and not without a cooperative stand on the part of its foreign economic partners he stressed that the u s had a particular opportunity to play a part in the cooperative policy of poland s partners interested in the settlement of polish debt putting it more sharply one senior banking official blamed washington for obstructing talks with the world bank imf and paris club of western creditor governments in recent years and said it should now play a more positive role as a major superpower the united states can influence international organisations he said citing recent meetings aimed at stabilising currencies as an example of the extent to which western nations were prepared to cooperate reuter 
interest	bundesbank leaves credit policies unchanged the bundesbank left credit policies unchanged after today s regular meeting of its council a spokesman said in answer to enquiries the west german discount rate remains at pct and the lombard emergency financing rate at pct reuter 
money-fx	egyptian central bank dollar rate unchanged egypt s central bank today set the dollar rate for commercial banks for march at dollars unchanged from the previous rate reuter 
acq	baker international corp sues hughes tool seeking merger completion 
acq	usair group rejects trans world airlines takeover bid 
crude	early march opec output seen well below ceiling opec crude oil output in the first few days of march was running at about mln bpd down from a mln bpd average for february and well below the mln bpd ceiling the group adopted in december a reuter survey shows the figures were polled by reuters correspondents from oil traders industry executives and analysts in europe the middle east africa latin america and asia they back recent statements by opec ministers that the group is producing within its ceiling to support the return to a fixed price system which came into effect last month opec output for the whole of february was about bpd above the ceiling largely because of overproduction by the united arab emirates and kuwait the figures show the uae together with the much smaller producer ecuador was also producing above quota in the first days of march the survey reveals but such overproduction was compensated for by a sharp fall in saudi arabian output together with iran s inability to export as much as its quota allows iraq rejected its opec quota of mln bpd and produced mln bpd in february and early march the figures showed saudi output excluding movements into stocks fell to mln bpd in early march from mln bpd in february against a mln bpd quota the saudi figures include a bpd share of neutral zone production kuwait which has consistently denied quota violations was estimated to be pumping mln bpd in february and in early march both figures including bpd as its share of neutral zone output against its bpd quota reports of customer resistance to fixed prices set by some opec states were reflected in output from qatar and nigeria both substantially under quota in february and early march qatar s february output was bpd and this fell to bpd in early march compared with its bpd quota industry sources say japanese buyers are resisting qatar s prices and gulf arab oil states have pledged to make up for any shortfall in sales which a fellow gulf state suffers nigeria s early march output was about one mln bpd down from mln bpd in february and its quota of mln bpd industry sources say nigeria s customers believe its bonny grades are overpriced compared with compatible brent crudes from the u k north sea country by country production figures are as follows in mln bpd country current february quota algeria ecuador gabon indonesia iran iraq kuwait libya nigeria qatar saudi arabia uae venezuela total reuter reuter 
acq	baker bko sues to force hughes ht merger baker international corp said it has filed suit in state court in houston to compel hughes tool co to complete its proposed merger with baker late yesterday hughes said it had terminated the merger agreement because baker would not agree to an alternative divestiture plan devised by hughes hughes board had previously found unacceptable a u s justice department consent decree that would have required broader divestitures baker said it has not obtained any satisfactory explanation from hughes of its objections to the provisions of the justice department consent decree hughes yesterday adjourned the special meeting at which shareholders were to vote on the merger without permitting the counting of votes on the deal baker said it believes the vote was overwhelmingly in favor of the merger baker said the new terms that hughes proposed for the merger as an alternative to the consent decree were more burdensome than those of the consent decree themselves baker said divestitures under the consent decree would reduce revenues for the combined company by about mln dlrs or three pct baker said it will continue to pursue the divestitures of the units named in the consent decree it said its suit names as defendants hughes and certain of its directors and seeks either an injunction forcing hughes to live up to the merger agreement or substantial monetary damages it did not name baker said it believes the merger to be in the best interests of shareholders of both companies reuter 
interest	spain deregulates bank deposit interest rates spain s finance ministry deregulated bank deposit rates in an effort to raise competition among banks and bring legislation into line with the european community ec a ministry spokesman said the measure was published today in the official state gazette it takes effect tomorrow and lifts restrictions on rates now limited to six pct on deposits of up to days the government also enacted a decree cutting to one pct from pct the proportion of total assets which banks must lend at favourable rates to industries classified of public interest some bankers expect the deregulation of rates to result in a pct drop in profits this year secretary of state for the economy guillermo de la dehesa told reuters in a recent interview the reduction in fixed asset investments would offset losses from the rate liberalisation reuter 
acq	usair u rejects twa twa takeover bid usair group inc said its board has rejected trans world airlines inc s offer to acquire usair for dlrs per share in cash as grossly in adequate and not in the best interests of usair shareholders employees or passengers the company said the unsolicited bid by the carl c icahn led twa was highly conditional usair said its board and that of piedmont aviation inc pie met separately yesterday to consider usair s offer to acquire pct of piedmont for dlrs per share and remaining shares for to common shares each valued at about dlrs per share based on the average closing price of usair common during a period just before the merger the company said it is continuing talks with piedmont on arriving at a definitive merger agreement and the two companies hope to reach one very shortly usair said in light of the highly conditional nature and other terms of the twa offer the timing of the offer and the circumstances under which it was made usair group believes that the purpose of the twa offer is to interfere with usair group s proposed acquisition of piedmont twa s proposal is nothing more than an attempt by carl icahn to disrupt at the eleventh hour usair group s acquisition of piedmont a transaction which the usair group board views as most beneficial to usair group shareholders employees and passengers and which mr icahn obviously regards as contrary to his own personal interests usair said its board has authorized counsel to explore all appropriate legal remedies against what it called twa s last minute attempt to interfere with usair group s acquisition of piedmont the company said conditions to the twa offer include twa obtaining financing the usair board redeeming defensive rights issued to shareholders last year and acting to render the fair price provision contained in usair s charter inapplicable to the twa offer and transportation department approval reuter 
earn	jaguar sees strong growth in new model sales jaguar plc jagr l is about to sell its new xj model on the u s and japanese markets and expects a strong reception based on its success in the u k chairman sir john egan told a news conference commenting on an pct growth in group turnover to mln stg and pre tax profits at mln stg slightly below s mln egan said jaguar aimed at an average profit growth of pct per year however the introduction of the new model had kept this year s pre tax profit down jaguar starts selling xj in the u s in may and plans to sell of its total production there in u s sales now account for pct of total turnover finance director john edwards said a u s price for the car has not been set yet but edwards said the relatively high car prices in dollars of west german competitors offered an umbrella for jaguar he added the xj had also to compete with u s luxury car producers which would restrict the car s price jaguar hedges a majority of its dollar receipts on a month rolling basis and plans to do so for a larger part of its receipts for longer periods john egan said in the longer term capital expenditure will amount to pct of net sales research and development will cost four pct of net sales and training two pct jaguar builds half of its cars and buys components for the other half the firm is in early stages of considering the building of an own press shop in britain for about mln stg but egan said this would take at least another three years on the london stock exchange jaguar s shares were last quoted at p down from p at yesterday s close after reporting results which were in line with market expectations dealers said reuter 
crude	diamond shamrock raises crude posted prices one dlr effective march wti now dlrs bbl 
earn	nord resources corp nrd th qtr net shr cts vs cts net vs revs mln vs avg shrs mln vs mln year shr cts vs cts net mln vs revs mln vs mln avg shrs mln vs mln note shr figures adjusted for for split paid feb reuter 
acq	five groups apply to buy french telephone group five consortia have applied to buy the french state owned telephone equipment manufacturer cie generale de constructions telephoniques cgct which will give the owners control of pct of the french telephone switching market sources close to finance minister edouard balladur said the french government has given itself until the end of april to decide which applicant will be accepted they added while several foreign groups have said they want to gain a foothold in the french market their potential stake in cgct is limited to pct under privatisation laws passed last year with pct to be left in french hands the finance ministry sources gave no details of the groups interested in cgct but several have publicly announced their candidacies u s telecommunications giant american telephone and telegraph co t n which has been at the centre of the two year battle for cgct has teamed up with the dutch based philips telecommunications industrie b v a subsidiary of nv philips gloeilampenfabriek pglo as and societe anonyme de telecommunications sat to present a joint bid in association with holding company cie du midi sa mcdp p and five french investment funds a second bid has come from the west german electronics group siemens ag sieg f which hopes to take a pct stake in cgct with the french telecommunications jeumont schneider taking the remaining pct sweden s ab lm ericsson has also submitted a bid for the maximum pct permitted in association with french defence electronics group matra which would hold between and pct and construction group bouygues matra has already acquired cgct s private telephone business reuter 
ship	blizzard closes bosphorus blizzard conditions halted shipping through the bosphorus waterway and piled snow up to cms deep in central istanbul paralysing the city for the second day running snow whipped by kph winds continued to fall on istanbul and northwest anatolia after hours and weather reports predicted no relief for another two days port officials said at least six large vessels in the black sea and in the sea of marmara were waiting for conditions to improve istanbul s ataturk international airport has been closed since yesterday reuter 
acq	japan fund jpn seekers confident of financing the sterling grace capital management l p group said it is confident financing can be arranged if the japan fund s board recommend s the group s acquisition proposal the group which also includes anglo american security fund l p and t b pickens iii tuesday proposed an entity it controls acquire for cash all the assets of japan fund for pct of the fund s aggregate net asset value the group said it has had a number of meetings over the past few days with domestic and overseas financial institutions the sterling grace capital group said certain of these institutions have expressed serious interest in providing financing for the proposed acquisition of japan fund adding we are reasonably confident that the financing can be quickly arranged if the japan fund s board of directors is willing to recommend the transaction to shareholders reuter 
earn	pegasus gold inc pgulf rd qtr dec net shr profit cts vs loss two cts net profit vs loss revs vs nine mths shr profit cts vs loss cts net profit vs loss revs mln vs mln reuter 
earn	keltic inc year net shr cts vs dlrs net vs revs vs note shr after november class a subordinate floating share issue reuter 
acq	e f hutton efh starts purolator pcc bid e f hutton group inc said it has started its previously announced offer to purchase up to common shares of purolator courier corp at dlrs each in a newspaper advertisement the company said the offer proration period and withdrfawal rights will expire april one unless extended the offer is conditioned on receipt of at least purolator shares or a pct interest and is the first step in a merger agreement that has been approved by the purolator board hutton said it reserves the right to buy more than shares but has no present intention of doing so it said it may waive the condition that at least shares be tendered as long as it received at least a pct interest if it were to receive fewer shares than that it said it would only purchase sharesd with the consent of purolator reuter 
money-fx	yeutter puts currency burden on taiwan korea responsibility for the appreciation of the taiwan dollar and the south korean won lies soley with those countries said u s trade representative clayton yeutter speaking to the asia society yeutter said that it is in those countries own long term interest to raise the value of their currencies against the dollar yeutter was responding to a question about what the u s could do to encourage appreciation of those currencies against the dollar in order to reduce the large u s trade deficits with taiwain and korea an undervalued currency will help those countries exports in the short term but in the long run they have to be concerned about how they are perceived in the international business community yeutter said for taiwan yeutter said that with its per capita trade surplus with the u s much larger than that of japan s and with huge foreign exchange reserves it was difficult to defend the high import tarrifs and other barriers that prevail in that country he also said that the south korean won should begin to move to reflect underlying economic fundamentals otherwise in two or three years time korea will be in the same situation that prevails in taiwan turning to the u s deficit with japan of more than billion dlrs yeutter said that this situation was not sustainable something must give soon if not there is a great threat of u s legislative action to counteract that trend yeutter said reuter 
earn	princeville development corp pvdc year loss shr diluted loss cts vs profit cts net loss vs profit revs mln vs mln avg shrs diluted vs note current year includes loss of mln dlrs from takeover defense expenses also includes losses of mln dlrs vs dlrs from equity in limited partnerships reuter 
acq	orange co oj holder raises stake orange co inc said its largest shareholder summit resoureces inc has increased its stake to pct from pct and now owns shares reuter 
earn	horizon corp hzn th qtr net oper shr profit dlrs vs loss eight cts oper net profit mln vs loss revs mln vs year oper shr profit dlrs vs loss cts oper net profit vs loss revs mln vs mln avg shrs vs note net includes tax credits of dlrs in quarter and dlrs in year net both periods excludes dlr loss from discontinued operations net both periods includes pretax gain mln dlrs from sale of remaining interest in paradise hills n m development reuter 
earn	international thomson organisation ltd year shr p vs p net mln vs mln revs billion vs billion note figures in sterling share results after deducting preferred share dividends of one mln pounds sterling in reuter 
earn	equatorial communications co equa th qtr loss shr loss dlrs vs nil net loss vs profit rev mln vs mln year shr loss dlrs vs profit cts net loss vs profit rev mln vs mln avg shares vs note fourth qtr net includes a one time restructuring charge of mln dlrs net income includes extraordinary gain of mln dlrs or cts reuter 
earn	international thomson organisation ltd year shr p vs p 
acq	trimedyne tmed to spin off stake in unit trimedyne inc said it will distribute one class b common share of automedix sciences inc for each four trimedyne shares held of record on march nine the company said in the spinoff it is distributing its entire pct interesdt in automedix the spun off stock will not be saleable for months the company said reuter 
earn	casey s general stores inc casy rd qtr jan shr cts vs cts net vs sales mln vs mln nine mths shr cts vs cts net vs sales mln vs mln reuter 
crude	diamond shamrock dia raises crude oil postings diamond shamrock said it raised its posted prices for all grades of crude oil one dlr a barrel effective yesterday the one dlr increase brings west texas intermediate wti the u s benchmark crude to dlrs a bbl the company said diamond shamrock joined sun co coastal citgo and murphy oil in raising crude oil posted prices one dlr a barrel yesterday reuter 
earn	oak hill sportswear corp ohsc th qtr net shr cts vs cts net vs sales mln vs mln year shr cts vs cts net vs sales mln vs mln avg shrs vs reuter 
earn	oak industries inc oak th qtr loss oper shr loss five cts vs loss cts oper net loss vs loss sales mln vs mln avg shr mln vs mln year oper shr loss cts vs loss dlrs oper net loss mln vs mln sales mln vs mln avg shrs mln vs mln backlog mln vs mln notes operating losses exclude profits from discontinued operationgs of dlrs or one cent a share vs dlrs or eight cts a share in quarter and mln dlrs or dlrs a share vs mln dlrs or cts a share in year year operating loss also excludes extraordinary gain of of mln dlrs or cts a share backlog which includes only orders to be shipped within mths was mln dlrs on january orders to be shipped beyond mths were mln dlrs vs mln dlrs at december reuter 
earn	regis corp rgis regular dividend set qtly div cts vs cts prior pay april record march reuter 
acq	mannesmann seeks stake in u s firm mannesmann ag mmwg f the diversified engineering and pipe making group is interested in taking a stake in a u s company or companies but has not yet found a suitable firm a spokesman said in reply to questions mannesmann managing board chairman werner dieter told the business weekly wirtschaftswoche in an interview that mannesmann wanted to invest in a u s company in order to strengthen its presence on the u s market dieter said mannesmann would act quickly when and if it found a firm in which it wanted to take a stake the mannesmann spokesman declined to say in which industrial sector the group may make a u s acquisition or how big the acquisition might be he also said the group had not yet completed taking over a stake in car components firm fichtel und sachs ag mannesmann had said in january it hoped to take a pct stake in fichtel und sachs s holding company sachs ag in the first quarter the spokesman said mannesmann had a letter of intent on the takeover from the heirs of the company s late owner but completion has been delayed by legal questions concerning the inheritance reuter 
earn	american int l group inc aig th qtr net shr dlrs vs cts net mln vs mln year shr dlrs vs dlrs net mln vs mln note includes gains of mln vs mln in year and mln vs mln from capital gains from investments reuter 
earn	systems for health care in one for split systems for health care inc said it repositioned the company through a one for reverse stock split it said there are now common shares outstanding with a quoted price of about bid compared to shares outstanding prior to the split in another recent development systems for health care formally changed its name to its present form from orcas corp reuter 
interest	bankers welcome spanish reserve requirement hike bankers welcomed the bank of spain s decision to raise the reserve requirement for banks and savings banks saying it reflected the socialist government s determination not to ease up in the fight against inflation despite the painful social effects of four years of austerity the central bank last night raised the requirement by one percentage point to pct from march saying that excess liquidity threatened money supply and inflation targets bankers said the move represented a change of tactic by the bank which until now has relied on raising interest rates to choke off money supply growth i think it s a good measure a senior foreign banker said it s a faster way to get the job done than using interest rates and avoids unpleasant effects on other areas of the economy it shows that the political will is very strong they know that controlling inflation will make industry more competitive and bring down unemployment in the long run he added the head of another foreign bank said that only a month ago the bank of spain had dismissed his suggestion of a rise in reserve requirements preferring to pursue its strategy of raising interest rates but bankers said the high real interest rates on offer now around eight pct for overnight funds was attracting money from abroad strengthening the peseta and making spanish exports less competitive the government says industry s competitiveness is also being hit hard by inflation at pct last year the rate was way above that of spain s major trading partners in the european community which it joined a year ago to help meet this year s target of five pct it is insisting pay rises stay at that level setting the stage for clashes with trade unions who say they have made enough sacrifices demonstrations by workers students and farmers whose demands essentially involve more government spending have become an almost daily occurrence but prime minister felipe gonzalez insists that the state is doing as much as it can bankers said the reserve requirement increase could have some impact on commercial lending rates but should not hit the money market too hard the bank of spain which only yesterday raised its key overnight call money rate to pct left it unchanged at today s auction the rate has been increased nine times since the start of the year when it was below pct bankers said commercial lending rates were set to rise in any case with the end of the six pct maximium interest rate banks can offer for time deposits of up to six months the measure will take effect tomorrow following the publication of the decree in today s official gazette bankers say the liberalisation will increase the cost of funds and inevitably push lending rates higher a companion measure reducing the proportion of funds which banks must invest in specific areas also takes effect tomorrow officials said when the cut was approved last month that it was aimed partly at compensating banks for higher interest rates reuter 
earn	gambro ab gamb st year mln crowns vs mln sales billion vs billion proposed dividend crowns vs crowns reuter 
acq	transportation agency gives final okay for us air pacific southwest acquisition 
earn	american software amswa sets stock split american software inc said its board declared a three for two stock split on class a and class b common shares payable march record march the company said it expects to increase its semiannual dividend pct to six cts per share post split from eight cts pre split reuter 
acq	comdata cdn in merger agreement comdata network inc said it has entered into a letter of intent with a limited partnership managed by welsh carson anderson and stowe wcas to merge comdata into a corproration to be formed by wcas comdata said in the merger each share of the company s stock would be converted at the holders election into either dlrs in cash or a combination of dlrs in cash and a unit of securities including common stock comdata said the terms are subject to the condition that wcas affiliate investors would own a minimum of pct of the fully diluted stock of the new entity comdata said wcas and its affiliate investors would commit mln dlrs to buy the securities comprising the new entities units of securities resulting from the merger in the same proportions and at the same price as the company shareholders comdata said the move is subject to execution of definitive agreement and approval by comdata shareholders as well as obtaining up to mln dlrs in debt financing wcas told comdata it believes that it can get commitments for this financing reuter 
earn	wajax ltd year net shr cts vs dlrs net mln vs mln revs mln vs mln reuter 
earn	american software inc amswa rd qtr jan net shr cts vs cts net vs revs mln vs avg shrs vs nine mths shr cts vs cts net vs revs mln vs mln avg shrs vs reuter 
acq	bankamerica bac to sell german banking unit bankamerica corp said it agreed to sell bankhaus centrale credit ag its german consumer banking subsidiary and german credit card operations to banco de santander of spain terms were not disclosed the deal is expected to close in the second quarter the bank holding company said bankhaus centrale credit with branches had total assets of mln marks at year end the credit card operation services visa card holders and merchants in germany it said reached later a bankamerica spokesman said the company would record a pretax gain of mln dlrs from the transactions the spokesman declined however to disclose the price paid for the operations by banco de santander or other terms of the deal reuter 
earn	copley properties inc cop th qtr net shr cts vs cts net vs revs vs year shr dlrs vs cts net vs revs vs note company began operations after its july public offering therefore annual data are not directly comparable reuter 
earn	unitil corp utl th qtr net shr cts vs cts net vs revs mln vs mln year shr dlrs vs dlrs net vs revs mln vs mln reuter 
acq	ryder rdr buys british caledonian unit ryder system inc said it has acquired caledonian airmotive ltd from british caledonian group plc for undisclosed terms caledonian airmotive repairs and rebuilds aircraft engines reuter 
acq	trelleborg take larger slice of boliden swedish tyres process equipment and components firm trelleborg ab said it was taking a larger stake in mining and metals concern boliden ab blds st than it had originally intended trelleborg had previously announced it was exercising an option to acquire up to pct of boliden s voting rights in a statement the company said they had received offers of up to pct of the rights and that they would accept all reuter 
earn	polaroid prd up on reaffirmed opinion shares of polaroid corp rose following a reiterated recommendation by merrill lynch and co that focused on strong earnings momentum for the company traders said we have been recommending the stock since it was in the s but we reiterated today because of expectations of strong earnings momentum its benefits from the lower dollar and anticipation of nice gains in margins merrill lynch analyst charles ryan said he said a negative opinion by another brokerage house hurt the stock wednesday and it can be bought at a relatively bargain price today ryan said you always have to look at polaroid at its weakness its a volatile stock that has to be caught on weakness polaroid s stock which gained more than a point early this morning was trading at up it was down over three points wednesday morning before closing down polaroid is working overtime on production of cameras and film so we expect first quarter earnings to be up about pct ryan said estimating earnings of cts a share in the first quarter compared to cts a share earned a year earlier he expects the company to earn four dlrs a share in as compared to dlrs a share last year reuter 
earn	swedish match ab smbs st year profit after net financial items mln crowns vs mln sales billion crowns vs billion proposed dividend crowns vs crowns reuter 
earn	sl industries inc sl nd qtr jan net oper shr cts vs cts oper net vs revs mln vs mln six mths oper shr cts vs cts oper net vs revs mln vs mln note exlcudes discontinued operations for oper net for six mths for sale of electronics division oper shr for qtr and six mths adjusted for stock split and dividend distribution in november reuter 
acq	general refractories grx to sell operations general refractories co said it agreed to sell its european refractories and building products operations for about mln dlrs to an austrian investor group the european operations had sales of mln dlrs in the last year for which results have been released the company said the sale to a group headed by girozentrale bank of austria is subject to shareholder approval by april it said its board has approved the deal it said general refractories mineral operations are not affected reuter 
earn	pepsico pep upgraded by kidder peabody kidder peabody and co analyst roy burry issued a strong buy recommendation on pepsico inc citing an improved profit outlook for both domestic soft drinks and frito lay snack foods pepsico climbed to on shares by midmorning burry forecast earnings of dlrs per share in and dlrs in in the company earned dlrs per share burry previously had a sell recommendation on pepsico we re looking at to pct earnings growth for frito lay in a trend that should continue through the decade reuter 
acq	shad sees progress on insider trading securities and exchange commission chairman john shad said progress was being made in stopping insider trading but the chairman of a house subcommittee with jurisdiction over securities laws said he was concerned about conditions on wall street greed has created a feeding frenzy on wall street and in the process laws are broken and multi billion dlr corporations have become easy prey rep edward markey d mass the chairman of the telecommunications and finance said at the start of a hearing on sec activities congress is understandably nervous we perceive the current scandals as a warning of even worse things to come markey said the frenzy and disruption created by merger mania is particularly distressing shad said the recent cases involving ivan boesky dennis levine and others was a warning that those who engage in insider trading were taking a heavy risk of imprisonment high fines and disbarment from the securities industry insider trading has not been eradicated but it has been inhibited and multimillions of dollars of profits that boesky and others have been siphoning off the markets are now flowing through to legitimate investors and traders shad said in his statement shad said insider trading cases involved only pct or less of sec enforcement actions in recent years but they have increased significantly to cases brought during the past five years compared to cases in the preceeding years markey said he did not favor banning takeovers but thought the tender offer process needed reform including earlier disclosure of takeover attempts n j rep mathew rinaldo the senior subcommittee republican said he was introducing legislation to create a five member commission to study the securities industry for a year and report its findings and recommendations to congress commission members would be appointed by the sec its primary mission would be to analyze the extent of illegal trading on insider trading and to assess the adequacy of existing surveillance systems and government oversight operations the commission would advise congress as to what additional resources or civil or criminal remedies are needed to combat fraud and improve compliance with federal laws rinaldo said reuter 
crude	opec says february output under ceiling opec output in february was well below the mln bpd ceiling it set in december and all countries are strictly adhering to their quotas the opec news agency opecna quoted an opec secretariat official as saying the official was quoted as saying that lower output was the result of member countries firm determination to defend the organisation s official price of dlrs per barrel and to refrain from selling any quantity below that price the unnamed official was further quoted as saying that no opec meeting was foreseen before the next biannual opec session planned to start on june the official gave no figure for february output the statement said only that the reduction in total supplies namely actual exports of crude oil and products plus local deliveries in member countries is even more pronounced as those supplies fell very noticeably during that month no matter what the pressure on member countries by lifters to align the official selling price to the ongoing market price member countries are without exception strictly adhering to the official selling price in spite of the financial hardship this may entail the statement said the very recent improvement in the price structure is an indicator of such determination by the organization to stick to the official selling price the statement said free spot market prices rose from around dlrs a barrel in early december last year to near opec s official levels towards the end of the year after the opec pact there has been oil industry speculation that opec might have to hold an extraordinrary meeting prior to its scheduled june session to discuss reports of overproduction by some states and strains on the differential matrix which prices each opec crude according to its quality and distance from main markets the official said in the statement that no such emergency session was scheduled because of member countries firm determination to defend the price system agreed in december opec s differential committee was to have met in vienna starting april but this session has been postponed with no new date set according to an official of the united arab emirates which chairs the seven state body other members are algeria kuwait saudi arabia libya nigeria and qatar reuter 
earn	canadian imperial bank of commerce st qtr share basic cts vs cts 
acq	perkin elmer pkn acquires high tech firm perkin elmer corp said it acquired atomika technische physik based in munich west germany a high technology concern specializing in surface science instruments terms of the acquisition were not disclosed it said atomika will became a part of its physical electronics division based in eden prairie minn the division is part of its materials surface technology group reuter 
acq	u s okays usair u pacific southwest purchase the u s department of transportation said it gave final approval to usair group s proposed mln dlr acquisition of pacific southwest airlines the department said the acquisition is not likely to substantially lessen competition and would not harm the public interest the department had given its tentative approval of the acquisition in january the department said it decided to make final its tentative decision after reviewing the public response to it the agency said it rejected an assertion by air north america which currently is not operating but plans to start service to some of the cities served by usair and psa that the acquisition would lessen chances of new entry into those markets by other carriers the agency said air north america provided no support for its claim that the transaction would give the two carriers monopoly power in some markets the transportation agency said air north america also failed to show that there are barriers that would prevent new entrants into those markets or prevent other carriers from increasing their service the agency noted in its final order that psa operates exclusively in the west and mexico while usair serves the west for the most part with some long haul flights from the east and midwest the two carriers serve five point in common los angeles san diego san francico phoenix and tucsonm the agency said the transportation department also rejected a request by the teamsters union which represents some psa workers to require protections for psa workers the agency noted that usair has promised to give protective benefits to psa workers and that unions representing psa workers have collective bargaining agreements that provide such protections reuter 
earn	mci mcic president sees profit improvement mci communications corp president bert roberts said he expects mci s financial performance to improve in the current quarter compared to the previous quarter he said american telephone and telegraph co long distance rate cuts had cut into mci s fourth quarter performance but added there s going to be a continuing impact on profits but we expect this quarter to be better than the fourth quarter the current quarter ends march for the fourth quarter mci reported a mln dlr loss due mainly to write offs and staff reductions roberts said the att long distance rate reductions which had been ordered by the federal communications commission have had a significantly negative impact on our profits as reported earlier today mci said it plans to ask the fcc to immediately deregulate att apparently in hopes that an unregulated att would pocket a greater proportion of its revenues rather than cut rates further reuter 
earn	national gypsum co th qtr net net vs na revs mln vs mln year net mln vs na revs billion vs billion note current year includes earnings of mln dlrs for the four months ended april year ago earnings not comparable because of acquisition by aancor holdings inc on april reuter 
earn	zayre corp th qtr shr cts vs cts 
earn	det oestasiatiske kompagni a s east asiatic co results for year group pre tax profit mln crowns vs mln net turnover billion crowns vs billion dividend eight pct vs nil group profit after tax mln crowns vs mln reuter 
earn	signtech inc nine mths jan net shr cts vs cts net mln vs revs mln vs mln reuter 
earn	canadian imperial bank of commerce st qtr period ended january shr cts vs cts shr diluted cts vs cts net mln vs mln loans billion vs billion deposits billion vs billion assets billion vs billion note shr after preferred dividends reuter 
acq	triumph capital inc to make acquisition triumph capital inc said it has signed a letter of intent to acquire first securities transfer systems inc of pompano beach fla for undisclosed terms the company said it is also entering the commercial finance business through the formation of triumph financial corp it said the new wholly owned unit has extended a dlr secured line of credit to micro designs inc reuter 
earn	conchemco inc ckc sets quarterly qtly div cts vs cts prior pay april six record march reuter 
earn	dst systems inc dsts regular payout set qtly div five cts vs five cts prior pay april record march reuter 
interest	fed not expected to take money market action the federal reserve is not expected to intervene in the u s government securities market to add or drain reserves economists said most economists said they did not expect the fed to add reserves with federal funds trading below six pct they said the funds rate s softer tone may indicate that the need to add reserves in the current bank reserve maintenance period is smaller than previously estimated fed funds opened at pct and remained at that level yesterday funds averaged pct reuter 
earn	brown group inc th qtr shr cts vs cts 
acq	regal international rgl ups bell bpsiq bid bell petroleum services inc said regal international inc has doubled its offer for bell stock to one regal share for each bell share from half a share previously the company said it is seriously considering the new offer but has also received an expression of interest for a possible merger into a fortune company it did not identify that will be investigated at meetings to be held later this week it said it will explore all possibilities before recommending a final course of action reuter 
earn	eqk green acres lp ega raises quarterly qtly div cts vs cts prior pay aug record june reuter 
earn	mercantile stores co inc th qtr shr dlrs vs dlrs 
earn	winland electronics inc th qtr loss shr loss one ct vs profit cts net loss vs profit revs vs year shr loss seven cts vs loss one ct net loss vs loss revs vs reuter 
earn	national convenience ncs to have rd qtr loss national convenience stores inc said it expects to report a loss for the third quarter ending march due to continued poor sales in texas especially in houston in last year s third quarter national convenience earned dlrs or eight cts per share including a gain of dlrs from the sale of stores to another operator it said the results also included earnings from gasoline operations of dlrs or cts per share caused by unusually high gross margins on gasoline sales of cts per gallon that were caused by rapidly falling oil prices national convenience said its third quarter is usually weak due to winter weather reuter 
crude	marathon raises crude posted prices cts a bbl effective today wti at dlrs bbl 
crude	report due on oil imports and national security a presidential commission that has been studying oil imports including their effect on national security is to to make its report soon the white house said spokesman marlin fitzwater said the panel set up last october to examine u s oil import needs would make its report soon probably within the next few weeks he said national security adviser frank carlucci will wait until that report is in and then see if there is any special action needed to be taken in the national security area to implement it reuter 
earn	chrysler sets three for two stock split raises dividend 
earn	brown group inc bg th qtr jan net shr cts vs cts net vs sales mln vs mln avg shrs vs year shr dlrs vs dlrs net vs revs billion vs billion avg shrs vs note period ended february one company changed fiscal yearend to january from october results were restated to reflect the change reuter 
earn	pegasus gold inc pgulf th qtr net shr profit cts vs loss two cts net profit vs loss revs mln vs year shr profit cts vs loss cts net profit vs loss revs mln vs mln note current qtr includes gain of mln dlrs from tax benefit reuter 
earn	zayre corp zy th qtr jan net shr cts vs cts net vs rev billion vs billion year shr dlrs vs dlrs net vs rev billion vs billion note th qtr net includes pre tax gain of mln dlrs from sale of real estate and real estate development company fiscal net includes extraordinary charge of mln dlrs or six cts a share all per share data reflects a two for one stock split paid june reuter 
earn	zayre zy plans more store openings in zayre corp said it plans to open additional zayre stores new t j maxx stores and hit or miss shops in in addition zayre said it plans to add six new bj s wholesale clubs and eight new homeclubs to its warehouse group earlier the company reported earnings ended january of mln dlrs or dlrs per share versus mln dlrs or dlrs per share in fiscal it also reported fourth quarter net of mln dlrs or cts a share versus mln dlrs or cts a share in s fourth quarter reuter 
earn	chrysler c sets stock split higher dividend chrysler corp said its board declared a three for two stock split in the form of a pct stock dividend and raised the quarterly dividend by seven pct the company said the dividend was raised to cts a share from cts on a pre split basis equal to a ct dividend on a post split basis chrysler said the stock dividend is payable april to holders of record march while the cash dividend is payable april to holders of record march it said cash will be paid in lieu of fractional shares with the split chrysler said mln shares remain to be purchased in its stock repurchase program that began in late that program now has a target of mln shares with the latest stock split chrysler said in a statement the actions reflect not only our outstanding performance over the past few years but also our optimism about the company s future reuter 
acq	banco santander to buy west germany s cc bank banco santander signed a letter of intent with bank of america bac to purchase its west german affiliate bankhaus centrale credit ag cc bank the bank said in a statement amplifying an earlier report from frankfurt the incorporation of cc bank in our group will provide a major boost for chanelling investment between spain and the european community the statement said this operation enables us to take up a solid position in west germany ahead of spain s full integration into the ec s financial system in five years time the deal included the license for visa credit cards reuter 
earn	canadian imperial sees lower loan losses canadian imperial bank of commerce earlier reporting higher net income for the first quarter ended january said it expects loan losses to be lower than last year s mln dlrs however the bank said it will maintain the high level of provisioning for loan losses established last year because of many market uncertainties commerce bank set loan loss provisions of mln dlrs in fiscal ended october the bank earlier said first quarter net income rose to mln dlrs from mln dlrs in the prior year profit per basic share after dividends fell to cts from year ago cts commerce bank said because of market uncertainties it used an estimate of mln dlrs for fiscal loan losses in calculating first quarter results the bank s first quarter provision for loan losses rose to mln dlrs from mln dlrs in the prior year commerce bank also said it will continue to adopt an agressive posture in adding to its general provisions against loan exposure to countries designated by the federal government s inspector general of banks first quarter net partly benefitted from net interest income up to mln dlrs from year ago mln dlrs commerce bank said improved other income which rose to mln dlrs from year earlier mln dlrs and net income was partially offset by the increased loan loss provisions non interest expenses and income taxes the bank said first quarter total assets increased to billion dlrs from mln dlrs in the prior year due mainly to continued expansion in consumer loan and mortgage fields return on assets increased by two cts to cts per dlrs of average assets from the first quarter in fiscal but declined two cts from fiscal fourth quarter the bank also said total non accrual loans increased to billion dlrs in the first quarter from year ago billion dlrs however non accrual loans declined mln dlrs from fiscal year end despite the recent announcement of the suspension of interest payments by brazil virtually all of the bank s loans to this country were income producing up to january and there was little adverse impact on the bank s earnings prior to the announcement commerce bank said the bank did not disclose a forecast of the impact on future earnings by brazil s suspension of interest payments reuter 
earn	mercantile stores co inc mst th qtr net qtr ends jan shr dlrs vs dlrs net mln vs mln revs mln vs mln mths shr dlrs vs dlrs net mln vs mln revs billion vs billion 
acq	unitel video shareholder proposes possible sale or liquidation of company 
earn	allegheny power system inc ayp sets payout qtly div cts vs cts prior pay march record march reuter 
earn	selkirk communications ltd th qtr net oper shr cts vs cts oper net vs revs mln vs mln year oper shr dlrs vs dlrs oper net vs revs mln vs mln note current oper net excludes extraordinary income of dlrs in qtr and dlrs in year vs previous losses of dlrs and dlrs respectively reuter 
earn	houston oil royalty trust rth payout lower mthly div cts vs cts prior pay march record march reuter 
earn	engelhard corp sets three for two stock split and raises quarterly 
acq	holder proposes unitel unv sale or liquidation michael landes a major stockholder in unitel video inc said he has asked the company to consider liquidating or selling some or all of its assets mr landes has requested the company to implement a program to maximize shareholder values which might include a sale of all or part of the company or a liquidation he said in a filing with the securities and exchange commission landes and another unitel video investor albert schwatz have formed a shareholder group and together hold common shares or pct of the total outstanding common stock landes and schwartz had reached an agreement in principle with the new york video tape service company on a dlr a share takeover proposal last september but subsequent merger talks broke down in october the investors told the sec they are continuing to review their positions company and may acquire more shares or sell some or all of their current stake reuter 
acq	huges tool company says baker international merger plan not terminated 
earn	royal dutch shell group of cos th qtr net shr royal dutch petroleum co rd dlrs vs dlrs final royal dutch dividend of guilders for total guilders vs guilders for shr shell transport and trading co plc sc dlrs vs dlrs final shell transport dividend pence for total of pence vs pence for group net billion vs billion group sales billion vs billion year shr royal dutch dlrs vs dlrs net shell transport dlrs vs dlrs group net billion vs billion group sales billion vs billion notes group is pct owned by royal dutch and pct by shell transport dollar amount of royal dutch dividend will depend on guilder dollar exchange rate on may final dividend is payable june to holders of record may shell transport dividend and per share results based on new york shares which are equal to four ordinary shares dollar final dividend will be determined by sterling dollar exchange rate may at current rate with tax credits is equal to dlrs final dividend is payable may to holders of record april fourth quarter u s dollar figures for group translated from sterling at average rate of exchange for the quarter which was dlrs per pound in and dlrs in full year u s dollar figures are sum of sterling translations to u s dollars for first second third and fourth quarters net includes fifo inventory gain mln dlrs vs loss mln dlrs in quarter and loss billion dlrs vs loss mln dlrs in year if lifo accounting had been used company said royal dutch per share net would have been dlrs vs dlrs in quarter and dlrs vs dlrs in year shell transport per share net would have been dlrs vs dlrs in quarter and dlrs vs dlrs in year net includes restructuring credit mln dlrs vs charge mln dlrs in quarter and credit mln dlrs vs charge mln per share impact of restructuring on royal dutch was credit cts vs charge cts in quarter and credit cts vs charge dlrs in year on shell transport was credit cts vs charge cts in quarter and credit nine cts vs charge cts in year net also includes currency exchange losses of mln dlrs vs mln dlrs in quarter and mln dlrs vs mln dlrs in year exchange losses had per share impact on royal dutch of cts vs cts in quarter and cts vs dlrs in year and on shell transport of eight cts vs cts in quarter and cts vs cts in year reuter 
acq	investment firm boosts purolator pcc stake halcyon investments a new york investment partnership that deals mainly in risk arbitrage and stock trading said it raised its purolator courier corp stake to shares or pct from or pct in a filing with the securities and exchange commission halcyon whose managing partner is alan b slifka and co said it bought purolator common shares between feb and march at prices ranging from to dlrs each halcyon which said it has spent mln dlrs for its purolator common shares said it also acquired options on feb giving it the right to buy shares for mln dlrs reuter 
acq	aetna aet to sell canadian operations aetna life and casualty co said its aetna life and casualty of canada ltd subsidiary has agreed in prnciple to sell its casualty property subsidiary aetna casualty co of canada to laurentian group of montreal for undisclosed terms the company said the agreement is subject to canadian government approval reuter 
earn	southern mineral corp smin th qtr loss shr loss two cts vs profit three cts net loss vs profit revs vs year shr profit eight cts vs profit cts net profit vs profit revs vs note per share figures adjusted for four for three stock distribution effective dec results include an extraordinary tax benefit of dlrs or one ct a share in each period reuter 
interest	bank of england resists pressure for rate cut the bank of england again fought against money and bond market pressure for a pre budget interest rate cut leaving the pound to take the strain with a further rise in its trade weighted index to a six month high it closed at its best level since september at pct of its value on the index as foreign investors continued to buy into a currency which offers high relative returns and the possibility of short term capital gains dealers said meanwhile opinion is divided over whether the bank can stop a cut before budget day march and why it should want to the bank s latest strong signal to the market that it wants rates to stay steady for the moment came in midafternoon when it lent to the discount houses at a penal rate of pct to relieve a money market shortage they re really making the discount houses suffer said stephen lewis economist at brokerage house phillips and drew eleven and three quarters pct is way above money market rates this money market signal was apparently not accompanied by any sterling sales on the foreign exchanges talk of which had inhibited strong rises yesterday and tuesday so buyers came strongly into the pound the pound surged to a high of dlrs at the london close up from the previous finish at and marks up from if this pressure keeps up there is a possibility that rates could drop before the budget said jeremy hale economist at finance house goldman sachs international corp some gilt traders are forecasting a half point cut in the base rate from the current pct as early as tomorrow however analysts said the bank of england will need to be convinced that the present rise is a fundamental re rating rather than a result of short term speculative gains there are valid reasons for the bank to be cautious said peter fellner u k economist at brokers james capel and co markets have become highly optimistic about the chances of a conservative party victory in any early general election and disappointment if prime minister margaret thatcher decides to hold back could lead to a decline in the pound and a setback for bonds fellner said an election could be delayed until mid but most forecasts say it will be this year others note that the pound could yet prove vulnerable to oil price losses or a change of fortune for the dollar however analysts agree the bank is largely trying to set the timing of a cut than holding out against one altogether the authorities traditionally prefer a single sustainable rate move one way or the other to half points here and there some add the bank will be influenced by signs that at least a proportion of the latest bout of sterling buying is long term capital coming into the london market notably from japan they argue that the pound is being perceived as a safer bet than the dollar given the latters recent sharp falls and current political upheavals in washington the bank may want to see another few points on the trade weighted index before the budget argued lewis but by then sterling should be firm enough to satisfy even the bank of england he added the bank declined to comment on its reasons for resisting pressure for a rate move before the budget but banking sources said the authorities see the recent rise in sterling as more than just marking up by foreign exchange traders meanwhile analysts noted the market ignored potentially harmful news on the trade front today s figures showing that the current account deficit in was billion stg this was above previous estimates of the current account deficit and compares with a surplus of billion stg in fellner said that under more normal conditions this would have given the bond and currency markets a pause but that they were too bullish to worry about such fundamentals the guessing game over the timing of a cut has the clearing banks divided as well as the markets privately some bank officials forecast the bank will hold out at least for this week but at least one bank says a rise is possible tomorrow if a move comes before march forecasts are for a half point cut with another half or full point about budget day reuter 
earn	engelhard corp ec sets stock split engelhard corp said its board declared a three for two stock split and raised the quarterly dividend to cts per share presplit from cts both payable march to holders of record march reuter 
crude	egyptian crude oil output down on non opec egypt produced mln tonnes about mln barrels of crude in against mln tonnes about mln barrels in according to official figures released today by the egyptian general petroleum corp egpc officials say egypt can produce up to one mln bpd per day but production was cut when world prices plunged last year in an attempt to help opec stabilize the world market egypt cut its production target of bpd to its current output of bpd egypt which exports a third of its output currently sells its top suez and ras bahar blends for dlrs a barrel reuter 
earn	h and h oil tool co hhot th qtr loss shr loss six cts vs profit two cts net loss vs profit revs vs year shr loss dlrs vs loss cts net loss vs loss revs mln vs mln note year includes special charge of dlrs or cts per shr on write down of rental equipment reuter 
earn	cb and t financial corp cbtf year net shr dlrs vs dlrs shr diluted dlrs vs dlrs net vs reuter 
acq	amoskeag bank amkg to acquire entrepo amoskeag bank said it signed an agreement to acquire entrepo financial resources inc a philadelphia based company which leases and remarkets high technology equipment terms of the acquisition were not disclosed it said entrepo has assets of mln dlrs reuter 
earn	washington national corp wnt votes dividend qtly div cts vs cts prior qtr pay april record march reuter 
acq	community bank system cbsi buys nichols bank community bank systems inc and the nichols national bank said they have signed a definitive agreement for nichols to become a member of the cbsi group of banks for an exchange of stock worth mln dlrs cbsi said it expects to complete the deal pending nichols shareholder and regulatory approval later this year reuter 
acq	eastman kodak acquires pct interest in enzon inc 
acq	shad favors shortening disclosure period securities and exchange commission chairman john shad said the sec favors shortening the current day period for disclosing takeover attempts but opposes putting restrictions on the use of so called junk bonds we favor shortening the disclosure period to two days shad told members of the house telecommunications and finance subcommittee when asked for his recommendation he said the sec s responsibility was to provide full disclosure for securities including junk bonds and not to make decisions based on merit he said junk bonds had some value because of their liquidity shad said he opposes proposals to require those attempting takeovers to file a statement on the impact the takeover would have on the communities involved we ve opposed it in the past it goes far beyond investor protection shad said he said he had no comment on a proposal by house speaker jim wright d texas to tax securities transactions reuter 
earn	corrected pegasus gold inc pgulf th qtr net shr profit cts vs loss two cts net profit vs loss revs vs year shr profit cts vs loss cts net profit vs loss revs mln vs mln note company corrects reporting period to th qtr and year from rd qtr and nine mths reuter 
acq	hughes tool ht says baker bko merger alive hughes tool co chairman w a kistler said its counter proposal to merge with baker international corp was still under consideration and that a merger was in the best interests of both companies our hope is that we can come to a mutual agreement that is good for both companies kistler said of the proposed merger that would result in a billion dlr oil field service company we re working very hard on this merger hughes board today again adjourned a shareholders meeting to vote on the proposed merger and rescheduled it for march to give baker more time to consider the counter proposal the hughes board which had previously expressed concern about a u s department of justice consent decree that would require baker to sell its drilling bit operations and submersible pump business met yesterday and threatened to terminate the proposed merger the hughes board made a counter proposal that the two companies first find acceptable buyers for the businesses before signing the decree the directors of baker immediately after receiving the counter proposal filed a law suit in texas in a texas state court to force to hughes to complete the merger the uncertainty as to the price and conditions that might be imposed by the department of justice makes us very nervous about what the outcome might be kistler said in explaining why hughes had made the counter proposal we need additional time to understand why baker did not accept our proposal kistler also said that the law suit filed by baker was not a factor in the board s decision to keep its merger proposal on the table he declined to comment on the allegations in the lawsuit kistler said hughes would be willing to consider a compromise counter proposal but declined to be more specific the justice department in january said it would block the hughes and baker merger on anti trust grounds unless both companies agreed to sign a consent decree that would provide for the sale of the assets after the merger took place the hughes board said it would not sign the decree because its was too unreasonable hughes said that baker should instead complete the sale of the disputed assets before the merger is finalized and given government approval under the decree if baker is unable to find acceptable buyers within a specified period of time after the decree is approved a federal trustee would become responsible for finding a buyer kistler said that under those terms the trustee could take up to years to complete the sales he also expressed concern that the combined companies might be required by the government s conditions to license some of its technology to any purchaser of the assets baker said last night in a statement that the required assets to be sold would reduce revenues by about mln dlrs representing about three pct of the revenues of the combined companies reuter 
earn	aequitron medical inc aqtn rd qtr loss period ended january shr loss five cts vs profit eight cts net loss vs profit sales vs nine mths shr profit six cts vs profit cts net profit vs profit sales mln vs reuter 
earn	lowe s cos inc low th qtr jan net shr cts vs cts net vs mln sales mln vs mln avg shrs mln vs mln year shr dlrs vs dlrs net mln vs mln sales billion vs billion avg shrs mln vs mln note current year net both periods includes charge dlrs or seven cts shr from early note retirement and charge seven cts shr from reversal of tax credits current year net both periods includes gain six cts shr from plywood manufacturers litigation settlement reuter 
acq	france to sell stake in societe generale unit the french government is to sell to the public its pct direct holding in societe generale stgn pa s regional bank subsidiary societe generale alsacienne de banque sogenal from next monday sogenal officials said sogenal founded in and nationalised in is the leading french regional bank and has branches in austria belgium luxembourg east and west germany and switzerland chairman rene geronimus told a news conference the share offer price expected to be announced tomorrow by finance minister edouard balladur would be between and francs societe generale which will itself be privatised later this year will retain its pct majority holding in the bank chairman marc vienot said sogenal officials said they forecast consolidated group profit of around mln francs after an estimated mln this year and mln in sogenal s privatisation will be preceded by a capital increase to mln francs from mln earning about mln francs in new funds its shares will be divided by eight giving a capital of mln shares of francs nominal the bank will be listed on the nancy stock exchange in line with the finance ministry and government s aim of a regional operation geronimus said he said he was hoping for shareholders to total around to against the before nationalisation ten pct of the capital to be floated will be reserved for employees with the rest offered to the public there will not be a share reserved for foreign investors this is too small an operation and anyway they will be able to buy shares in france he said stockbroker sources said that a likely share offer price of francs would value sogenal at billion francs geronimus said the bank s future aim would be to reinforce its existing strong points with no major projects planned apart from the opening soon of a basle branch sogenal is the only french bank in austria it set up the first foreign exchange dealing room outside paris at its strasbourg headquarters in and is the only foreign banking subsidiary to be a broker on the zurich bourse the government s banking adviser for the operation was banque privee de gestion financiere bpgf owned by french financier pierre moussa s pallas group assisted by britain s hambros bank ltd reuter 
earn	midland mla sets stock split midland co said its board declared a two for one stock split subject to approval of a doubling of authorized common shares at the annual meeting on april and an increase in the quarterly dividend to cts pre split from cts the dividend is payable april record march and the split would be payable may record april reuter 
earn	prudential insurance year earnings the prudential insurance company of america a privately held company said today that net income in rose to billion dlrs from the billion dlrs reported the year earlier assets under management rose to billion dlrs in from billion dlrs in while consolidated assets jumped to billion dlrs from billion dlrs discussing its major subsidiaries the company said that prudential capital and investment services inc the holding company for brokerage house prudential bache securities and certain other related subsidiaries earned million dlrs in of that the securities operations of prudential bache netted mln dlrs after taxes and a charge of mln dlrs reuter 
earn	aequitron aqtn sees th qtr charge aequitron medical inc said costs related to its previously announced plan to consolidate life products operations in boulder colo are expected to total dlrs or eight cts a share for the fourth quarter ending april it said the costs including moving expenses severance pay and future lease payments the company said it will consolidate life products into the company s headquarters and manufacturing operations in minneapolis reuter 
earn	big b inc bigb th qtr jan net shr cts vs cts net vs sales mln vs mln avg shrs vs year shr cts vs cts net vs sales mln vs mln avg shrs vs reuter 
acq	wilshire woc chief named to jacobs jec board wilshire oil co of texas which has a pct stake in jacobs engineering group inc said its chairman siggi wilzig was appointed to the jabobs board in a filing with the securities and exchange commission wilshire which holds jacobs common shares said wilzig was appointed to the jacobs board of directors on march after the company s annual shareholder meeting wilshire also said that jacobs chairman joseph jacobs has agreed to recommend a second wilshire nominee for election to the board if the person was found to be qualified reuter 
earn	quartz engineering and materials qrtz st qtr qtr ended dec shr nil vs nil net loss vs loss revs vs reuter 
acq	kodak ek buys stake in enzon enzn eastman kodak co said it has acquired an pct equity interest in enzon inc a pharmaceutical company specializing in protein therapy kodak said it secured worldwide marketing rights for three of enzon s peg enzymes used in the treatment of oxygen toxicity disorders hyperuricemia and gout the company said it acquired two mln enzon shares for mln dlrs with loans to enzon of two mln dlrs and interest of dlrs credited against the purchase price kodak said the drugs covered by the marketing rights are in initial stages of the u s food and drug administration approval process it said the investment should provide the necessary capital to complete the fda review process and provide a marketing outlet for the drugs the drugs are peg superoxide disdmutase and peg catalase for use against oxygen toxicity disorders that cause the often fatal tissue damage associated with severe burns organ transplants heart attacks and trauma and peg uricase for treatment of gout and other conditions caused by the buildup of high levels of uric acid in the body reuter 
earn	gemcraft inc gemh year net shr cts vs dlrs net vs sales mln vs mln avg shrs vs note net includes dlr pretax charge from writedown of land and abandonment of land and pretax charges of dlrs from pending rescission offer settlements with u s agencies adjustment of the prior booking of residuals arising from collateralized mortgage obligation bond issues writedowns of land held by a joint venture startup costs associated with entering new markets an increase in reserves for customer service and writeoffs and reserves for mortgage related receivables to reflect current market values reuter 
earn	applied solar energy corp solr st qtr net qtr ended jan shr profit nine cts vs loss cts net profit vs loss sales vs note net includes extraordinary gain of dlrs or two cts per shr reuter 
earn	pacific nuclear systems in pacn th qtr loss shr loss cts vs profit seven cts net loss vs profit revs vs year shr loss cts vs profit cts net loss vs profit revs vs mln reuter 
earn	anglo american gold investment co ltd aagiy year to feb shr cts vs pre tax mln rand vs mln net mln vs mln tax nil vs mln final div cts making cts vs div payable april register march reuter 
acq	harris cuts triad systems trsc stake to pct harris associates l p a chicago investment advisory partnership said it lowered its stake in triad systems corp to shares or pct of the total outstanding from shares or pct in a filing with the securities and exchange commission harris said it sold a net triad common shares between dec and feb at prices ranging from to dlrs a share it said its dealings in triad common stock were done on behalf of its advisory client reuter 
earn	libra bank expects brazil to reach debt accord london march london based libra bank plc said when announcing its annual results that it expected brazil to reach agreement with its creditors over debt repayments in recent years brazil has demonstrated its ability to generate surpluses sufficient to service its debt and i have no doubt that in due course it will reach an agreement with the banks and its other creditors libra managing director peter belmont said in a statement earlier the bank which specialises in providing finance to latin america and the caribbean announced pretax profits of mln stg for calendar against mln in libra s net worth increased by pct to mln stg last year and belmont said the improvement to the bank s balance sheet was due to profits being mostly retained in the bank and to the issue of mln stg of cumulative redeemable preference shares during the year libra is a consortium bank national westminster bank plc nwbl l chase manhattan bank n a cmb royal bank of canada ry to swiss bank corp sbvz z westdeutsche landesbank girozentrale welg f mitsubishi bank ltd bancomer snc banco itau sa credito italiano spa and banco espirito santo e comercial de lisboa all have shareholdings reuter 
acq	idea inc idea to buy private firm idea inc said it signed a letter of intent to buy privately held structural instrumentation inc the purchase for an undisclosed sum will be made mostly with idea common stock the company said idea said the purchase will add about cts per share to its fiscal earnings idea reported earnings of four cts per share for the quarter ended october reuter 
acq	ducommun inc dco sells division ducommun inc said it sold its airdrome parts co division to a group of investors headed by airdrome s management for a cash price of mln dlrs ducommun said the sale coupled with its sale last month of metermaster were steps taken to improve the company s balance sheet and that no further sales are being contemplated reuter 
earn	hooper holmes sherlock inc hoop th qtr net shr cts vs cts net vs revs mln vs mln avg shrs vs mths shr cts vs cts net vs rwevs vs avg shares vs reuter 
acq	texon energy txon in talks on acquisition texon energy corp said it has entered into a preliminary agreement to purchase an pct interest in a privately held specialty plastics manufacturing company it did not name texon said completion of the acquisition is subject to the consent of banks and third parties and the acquisition would be made for promissory notes and common stock reuter 
earn	allied ald affiliate restates loss larger allied signal inc s pct owned union texas petroleum co affiliate said it has restated its fourth quarter and full year losses and revenues to increase the provision for the proposed settlement of a price dispute involving indonesian liquefied natural gas it said the restated increases the provision against fourth quarter earnings to mln dlrs from mln dlrs estimated earlier union texas said its fourth quarter loss was increased to mln dlrs from mln dlrs reported previously and revenues reduiced to mln dlrs from mln dlrs union texas said for the full year it restated its loss to mln dlrs from mln dlrs and revenues to billion dlrs from billion dlrs the restatement results from a tentative agreement reached in february with pertamina the indonesian state owned petroleum enterprise and japanese purchasers of lng kohlberg kravis roberts and co also owns pct of union texas and the remainder is owned by management reuter 
earn	amrep corp axr rd qtr jan net shr cts vs cts net vs revs mln vs mln nine mths shr cts vs dlrs net vs revs mln vs mln note share adjusted for three for two stock split in december reuter 
earn	ici ici sees growth in pharmaceuticals imperial chemical industries plc expects earnings from its pharmaceuticals operations to grow to about pct of world profits within the next five years compared with a current pct chairman elect denys henderson told financial analysts over the next five years we expect to launch one major new product each year henderson said he also said research and development spending in this business segment will be increased to pct of total sales income in from pct or mln sterling in ici the world s fifth largest chemicals firm in terms of sales recently reported profits of about mln dlrs on billion dlrs in sales compared with income of mln dlrs on billion dlrs in sales a year earlier sales in the united states totaled about three billion dlrs ici executives said in addition henderson said overall corporate growth will come from ici s research and development activities but the company intends to continue to grow through an acquisition program ici spent just under one billion dlrs for acquisitions during the largest of which was the mln dlr purchase of cleveland ohio based glidden inc a paints resins and coatings company from hanson trust plc ici financial director alan clements said the company s borrowing limits are at a level of about billion sterling billion of which have already been used while the company has no current plans for a major acquisition we are ready to move quickly in the acquisition field if the need arises clements said reuter 
earn	safecard services sfcd sets split ups payout safecard services inc said its board declared a three for two stock split and is maintaining the quarterly dividend on post split shares at the same six cts it now pays for an effective pct increase both the split and the dividend are payable april to holders of record march reuter 
earn	wilton enterprises inc wltn nd qtr jan net oper shr profit two cts vs loss cts oper net vs loss sales vs st half oper shr profit cts vs profit eight cts oper net profit vs profit sales mln vs mln note current year net excludes tax credits of dlrs in quarter and dlrs in year reuter 
ship	rotterdam port subsidy to end july minister dutch social affairs minister louw de graaf announced he is withdrawing the annual mln guilder labour subsidy for rotterdam s strike hit general cargo sector as from july late last month de graaf said that if the dispute was not settled by monday this week he would withdraw the subsidy the chairman of the port employers organization svz jacques schoufour said he was unhappy with the decision and added there was now no alternative to proceeding with redundancy plans the series of strikes in the sector started on january in protest at employers plans to make redundancies from the strong workforce by starting with this year meanwhile the port and transport union fnv attacked loss figures given for the port for this year the figures issued by accountants on behalf of the svz put total losses for last year at mln guilders and in at mln earlier the employers had put the figure at around mln the fnv said the actual losses were nearer to mln and said the employers had inflated the figures as part of their plan to restructure completely the port s general cargo sector reuter 
earn	s a y sayi to take rd qtr loss from sale s a y industries inc said it expects a loss of about two mln dlrs in its third quarter ended february from the proposed sale of its omnilab inc health care unit s a y said its board of directors approved the unit s sale because omnilab was losing about dlrs a quarter we no longer see a near term prospect for a reasonable return on our investment romilly humphries s a y president and chief executive officer said s a y said proceeds from the sale would be used to increase the company s market share in automotive products packaging and diversify its packaging capabilities reuter 
earn	sonesta international hotels corp snst th qtr shr profit cts vs loss cts oper net profit vs loss revs mln vs mln year oper shr profit dlrs vs loss dlrs oper net profit mln vs loss revs mln vs mln note year net excludes dlr tax credit net includes pretax gains on sale of property of dlrs in quarter and mln dlrs in year reuter 
earn	domco industries ltd st qtr jan net shr four cts vs cts net vs revs mln vs mln reuter 
acq	unicorp american uac acquisition advances unicorp american corp said it has signed a definitive agreement for the previously announced acquisition of lincoln savings bank the company said the transaction is still subject to regulatory approvals reuter 
acq	first eastern corp febc completes acquisition first eastern corp said it has completed the acquisition of peoples bank of nanticoke pa in an exchange of first eastern shares for each peoples share peoples has assets of about mln dlrs reuter 
acq	bishop graphics bgph completes store sale bishop graphics inc said it completed the sale of its newport beach art supply center to standard brands paint co s sbp art store unit terms were not disclosed bishop also said it has opened a new sales and service office in irvine calif reuter 
ship	striking brazilian seamen hold pay talks striking brazilian seamen who say they have made idle ships and halted brazilian exports today held pay talks in rio de janeiro with labour minister almir pazzianotto union officials said jorge luis leao franco a senior official of the national merchant marine union told reuters he was optimistic the talks would lead to an end of the stoppage which began last friday brazil s seamen are seeking a pay rise of pct the union official said the strike had halted a total of vessels including in brazil s main port santos and about more in rio de janeiro abroad six ships lay idle in the netherlands spain venezuela france and south africa he said economic analysts said the strike was of serious concern to the government which has already had to suspend interest payments on part of brazil s foreign debt following a drastic deterioration in the country s trade balance the head of the national merchant marine authority murilo rubens habbema was quoted in today s gazeta mercantil newspaper as saying that if the strike continued foreign ships could be authorized to transport brazilian exports brazil is living through a crisis at the moment and it is not conceivable that exports be hit he said but even using foreign ships we must not forget that we are going to lose foreign exchange paying freight charges abroad and all this through the fault of the seamen rubens habbema said a spokesman for the port of santos which has been the scene of labour unrest and congestion in recent months said movement of ships out of the port was running at about half its normal level of ships a day he said a total of ships were either waiting at anchor on moored in the harbour reuter 
earn	brown group inc bg votes regular dividend qtly div cts vs cts prior qtr pay april record march reuter 
earn	blocker energy corp blk year net oper shr profit cts vs loss dlrs oper net profit vs loss mln revs mln vs mln note net excludes mln dlr gain from debt extinguishment net includes mln dlr writedown of drilling rigs reuter 
earn	ltx corp ltxx nd qtr jan loss shr loss cts vs loss cts net loss vs loss sales mln vs mln avg shrs vs st half shr loss cts vs loss cts net loss vs loss sales mln vs mln avg shrs vs note prior year net includes tax credits of dlrs in quarter and dlrs in half reuter 
trade	yeutter says u s budget deficit reduction key to trade deficit solution 
earn	calprop corp cpp th qtr net shr cts vs cts net vs revs mln vs avg shrs vs year shr cts vs cts net vs revs mln vs mln avg shr vs note prior qtr and year per share figures restated for pct stock dividend of december reuter 
earn	sis corp sisb year net shr one ct vs nil net vs revs mln vs mln reuter 
earn	amoskeag co amos sets quarterly qtly div cts vs cts prior pay march record march five reuter 
earn	medtronic inc mdt sets quarterly qtly div cts vs cts prior pay april record april reuter 
earn	scitex corp scixf th qtr loss shr loss cts vs loss dlrs net loss vs loss mln revs mln vs mln year shr loss dlrs vs loss dlrs net loss mln vs loss mln revs mln vs mln avg shrs mln vs mln note includes losses of vs in qtr and mln vs in year from equity of pct owned companies reuter 
acq	stanley works swk makes acquisitions stanley works said it has acquired acme holding corp a maker of sliding and folding door hardware and the designs patents and other righs of plan a flex designer co which provides kits for home design and remodeling projects it said acme had sales of over mln dlrs terms were not disclosed reuter 
earn	anitec image technology corp antc sets payout qtly div cts vs cts prior pay april record march reuter 
earn	green mountain power corp gmp sets quarterly qtly div cts vs cts prior pay march record march reuter 
earn	dual lite inc mdt sets quarterly qtly div eight cts vs eight cts prior pay may record april reuter 
earn	science management corp smg th qtr oper net oper shr profit cts vs loss cts oper net profit vs loss revs mln vs mln avg shrs vs year oper shr profit cts vs loss cts oper net profit vs loss revs mln vs mln avg shrs vs note excludes gain of dlrs vs loss dlrs in qtr and gains of dlrs vs dlrs in year from tax loss carryforwards includes gains of dlrs and dlrs in qtr and year respectively reuter 
earn	carmel container systems ltd kml year oper net oper shr dlrs vs cts oper net vs revs mln vs mln avg shrs vs note excludes gain of dlrs vs dlrs from benefit of tax loss carryforward results for tel aviv israel based company translated at rate of one dlr to new israeli shekels reuter 
earn	tandem computers tndm sees higher net tandem computers inc said it expects higher earnings and revenues in its second fiscal quarter ending march against a year ago we feel we will continue to see higher growth in the quarter james treybig president and and chief executive officer told a meeting of securities analysts in the second fiscal quarter last year tandem earned dlrs or cts per share on revenues of mln dlrs treybig declined to offer specific projections for the quarter but he said the results might be lower than those for the first quarter of fiscal when tandem earned mln dlrs or cts a share he said tandem s second quarter is traditionally slower than the first l f rothschild unterberg towbin analyst frederic cohen estimated tandem s second quarter net at to cts per share for the full year he said he expects the computer maker to earn about dlrs a share in fiscal tandem earned dlrs a share treybig who founded the cupertino calif based company said he has seen a rebound in computer orders in the united states the u s economy is picking up and buying decisions are being made we didn t see that a year ago he said the executive said tandem will increase its research and development spending to about mln dlrs this year from mln dlrs in fiscal he said the company plans to introduce several products including two low end systems and a data base that uses the sql programming language an industry standard tandem also won a major order from the bank of tokyo reuter 
interest	fed s johnson says he does not see increasing pressure on interest rates 
acq	first union func to buy florida bank first union corp said it has agreed to acquire first state bancshares inc of pensacola fla and its first state bank of pensacola subsidiary for about common shares first state has assets of about mln dlrs the acquisition expected to be treated as a pooling of interests is expected to be completed in the third quarter of subject to approval by regulatory agencies and first state shareholders reuter 
earn	oppenheimer raises nwa nwa earnings estimate oppenheimer and co analyst robert mcadoo raised his earnings estimate for nwa inc parent of northwest airlines following a strong quarterly report by the company yesterday according to oppenheimer market strategist michael metz nwa shares rose to in active trading mcadoo raised his estimate to dlrs a share from five dlrs and maintained a buy recommendation on the stock metz said mcadoo was traveling and could not be reached for comment yesterday minneapolis based nwa reported fourth quarter net of about mln dlrs or cts a share against a loss of two mln dlrs or nine cts in the quarter for the year earnings rose to mln dlrs or dlrs from mln or dlrs the results include republic airlines since nwa acquired it aug reuter 
earn	yellow freight yell sees lower st qtr net yellow freight system inc said its expects first quarter profits to be substantially below the mln dlrs or cts a share earned in the same period a year ago revenues have been depressed by recent price discounting added costs from expansion programs lower shipping volumes and increased costs associated with severe weather conditions on the east coast company officials told analysts here an industry wide rate hike of pct set for april one will cover yellow freight s upcoming labor and other costs but will not make a contribution to operating margins it said reuter 
acq	moulinex stake sold to some institutions the pct stake in moulinex sa moup pa sold by scovill inc of the u s was spread among at least institutional investors worldwide a spokesman for brokers james capel said capel handled the deal the buyers were based in centers ranging from europe to north america and japan he added moulinex s capital is split among jean mantelet president of the company with pct along with private investors holding pct and the pct which has just been sold company sources said earlier in paris reuter 
acq	talking point piedmont pie carl icahn s bold takeover bid for usair group u has clouded the fate of piedmont aviation inc which was being courted by usair yesterday icahn s transworld airlines inc twa made a billion dlr offer for usair group the move complicated a usair takeover offer for piedmont which was believed to be close to accepting the bid today usair rejected icahn s dlr per share offer and said the bid was a last minute effort to interfere in its takeover of piedmont icahn was unavailable for comment piedmont fell one to on volume of twa was off to usair fell to as doubt spread it would be taken over analysts and market sources view the twa bid as an attempt to either trigger a counter offer from usair or to attract a suitor who might want both airlines once they merged the next move is either icahn starts a tender offer or piedmont and usair announce a deal speculated one arbitrager some arbitragers said there is now some risk in the current price of piedmont since it is not clear that usair s bid will succeed piedmont s largest shareholder and other suitor norfolk southern corp nsc has offered dlrs per share for the company usair offered dlrs cash per share for half of piedmont stock and dlrs per share in stock for the balance some arbitragers however believe the depressed price of piedmont offers a buying opportunity since the airline is destined to be acquired by someone usair they said is the least likely to be bought icahn who has long talked about further consolidation in the airline industry also offered usair the alternative of a three way airline combination including twa and piedmont but wall street has given little credibility to icahn s offer which lacked financing and was riddled with contingencies still he has succeeded in holding up a merger of two airlines both of which analysts said would fit well with twa you can t discount him said one arbitrager analysts however said icahn would have to prove he is serious by following through with his threats or making a new offer in making the offer for usair icahn threatened to go directly to shareholders for pct of the stock at a lower price if usair rejected his offer it s clear icahn wants to sell and he s bluffing said one arbitrager analysts said the dlr per share offer was underpriced by about six dlrs per share some analysts believe icahn s proposed three way airline combination might face insurmountable regulatory hurdles but others believe it could be cleared if the companies are acquired separately twa would have to be the surviving company for the deal to work said one analyst analysts said such a merger would be costly and complicated twa has the best cost structure since icahn succeeded in winning concessions from its unions in order for the other carriers to come down to twa s wage scale in a merger twa would have to be the surviving entity analysts said such a move does not necessarily free icahn of twa they said they said he showed skill in reducing ozark airlines costs when he merged it into twa last year and he might be a necessary ingredient for a merger to work however other analysts speculated the managements of piedmont and usair would not tolerate icahn as head of a new company they said a usair acquisition of twa might be a way for him to exit the company if usair s airline is then merged into twa reuter 
acq	baker int l bko hopes to complete merger baker international corp treasurer eric mattson said the company hoped to iron out snags in a proposed merger with hughes tool co ht but declined to say if or what compromises might be acceptable to it the proposed merger that would create a billion dlr oilfield services company was thrown into limbo yesterday when hughes management balking at the terms of a government consent decree offered a counter proposal to baker earlier today hughes adjourned a shareholders meeting called to vote on the proposed merger until march and said it hoped to resume negotitations with baker hughes chairman w a kistler told reporters that hughes did not want to sign the department of justice consent decree until after baker s submersible pump and drilling bit operations were sold mattson told reuters that baker still believed a merger was possible between the two giant oilfield service companies the company s position is we would like to see the merger be completed which is in the best interests of our shareholders and their shareholders mattson said our goal is for a merger to occur because of the litigation i can t go any further than that he said baker filed a lawsuit in texas state court late yesterday to force hughes to abide by terms of the proposed consent decree mattson also declined to comment on whether the directors of baker and hughes have scheduled any meetings to discuss the merger reuter 
earn	lucky stores inc reinstates quarterly dividend at cts per share 
earn	homestead financial hfl ups cash dividend homestead financial corp said it has increased the dividend on its class a common shares to cts a share from five cts prior while declaring an initial dividend on its class b common stock of cts a share homestead said the two classes of stock emerged as part of its recapitalization plan which also doubled the number of authorized common comprising both classes to mln shares homestead said the dividends are payable on april to shareholders of record march homestead also said that class b shareholders who want to increase their dividends may exchange their shares for an equal number of class a shares on or before march reuter 
earn	electro sensors inc else year oper net oper shr cts vs cts oper net vs sales vs note earnings exclude extraordinary securities loss of dlrs or two cts a share vs a gain of dlrs or seven cts a share reuter 
crude	opec president says output well below ceiling opec conference president rilwanu lukman said the group was producing well below the mln bpd ceiling it set in december partly because liftings had been delayed or postponed by customers unwilling to pay fixed opec prices lukman during a brief visit to london on his way home from jamaica told reuters in a telephone interview that in february opec had underproduced partly because members were strictly abiding by production quotas and partly because they were resisting the temptation to sell at discounts to official prices of around dlrs a barrel we are determined to stand firm by the december accord he said i have spoken to every other opec minister and they are committed to making the accord work he said lukman gave no specific figures for february output he said the opec secretariat in vienna was finalizing these figures told of a reuters survey published today which estimated that opec output so far this week was below mln bpd he said that could well be correct opec s news agency opecna today issued a statement saying group output was well below its ceiling in february but it gave no figures but one source close to opec indicated that february output may have been between and mln bpd the reuter survey estimated opec february output at around mln bpd opec agreed in december to cut output by pct to mln bpd and to return to fixed prices starting february lukman said qatar nigeria saudi arabia and iran had all produced in february below their opec quotas iraq which said it would not honour its mln bpd quota under the december pact had produced less than had been anticipated he said lukman said that some industry reports may be correct that in february nigeria propuced bpd below its mln bpd quota saudi arabia bpd less than its mln allocation and qatar to pct under its bpd quota he said that sweet crudes such as those produced by his country were coming under price pressure because they were currently officially priced above sweet north sea grades and the united states west texas intermediate wti crude however he said opec in december had anticipated that demand would be slack at this time of year for seasonal reasons and expected the market to firm in two to three weeks we have to be patient for two or three weeks the market is now firming on actual fundamentals he said adding that he expected it to go up and up even beyond official prices after early april this is when traditionally there is more demand for gasoline rich crudes such as nigeria s the opec president said producers such as kuwait venezuela and indonesia were having less problems with output than producers like his own country because they exported oil products also some of venezuela s heavy grades were outside the opec pricing system he said lukman said that if refiner buyers now refusing to lift some opec oil at official prices instead used their own stocks and ran them down to dangerous levels they would eventually have to buy opec oil when they realise it is not a free for all in the market they will realise they should buy now instead of paying more later on he said lukman asked about industry reports that nigeria was being pressured by equity producers for better terms said it was important to know that terms with them were negotiable flexible and under constant review not only when the market seemed weak he said that so far no meeting of the seven nation ministerial differentials committee had been scheduled and that such a meeting now twice postponed was not a high priority for opec at the moment at this time we have to get our priorities right he said the most important thing now is ensuring that the accord is working not dealing with a differential of cents between grades but if any opec member raised concerns or objections over the differential system a meeting would be called he said reuter 
earn	lucky stores inc lks reinstates quarterly div qtly div cts vs nil pay april record march note in quarters preceeding th qtr dividend was cts reuter 
earn	carmel container systems ltd kml year oper net oper shr dlrs vs cts oper net vs revs mln vs mln avg shrs vs note excludes gain of dlrs vs dlrs from benefit of tax loss carryforward results for tel aviv israel based company translated at rate of one dlr to new israeli shekels reuter 
earn	longview fibre co lfbr quarterly dividend qtly div cts vs cts pay april record march reuter 
earn	bei holdings ltd beih st qtr jan net shr cts vs eight cts net vs rev mln vs mln note qtr includes extraordinary gain of dlrs or six cts a share versus dlrs or two cts a share in fiscal s first qtr reuter 
earn	atlantic city electric co ate sets payout qtly div cts vs cts prior pay april record march reuter 
earn	kemper corp kemc regular payout set qtly div cts vs cts previously pay may record may eight reuter 
earn	ffb ffct sets initial quarterly dividend ffb corp parent of the first federal bank of connecticut fsb said it declared an initial quarterly dividend of five cts per share the company said the dividend is payable march to holders of record march reuter 
earn	union carbide says operating profits for th qtr were mln dlrs vs loss three mln dlrs 
earn	combined internmational pma sees strong combined international corp should have another strong year president patrick g ryan told analysts although he declined to forecast earnings specifically in the company reported operating income of dlrs a share up from dlrs a share a year earlier revenues increased to billion dlrs from billion dlrs ryan said combined is testing a direct response long term care product through its union fidelity life insurance co and has plans to offer it through ryan insurance group in answer to a question on combined s possible exposure to aids related health claims ryan said it was minimal although he conceded that every carrier who provides coverage is vulnerable reuter 
earn	chartwell group ltd ctwl th qtr net shr nine cts vs three cts net vs rev mln vs mln year shr cts vs cts net vs rev mln vs mln reuter 
acq	pitt des moines inc pdm to acquire steel unit pitt des moines inc said it will acquire chicago steel corp in exchange for a portion of its stock reuter 
trade	consensus builds for world agricultural reform top u s and european farm trade and government representatives called for a sweeping reform of world agriculture to redress a critical demand and supply imbalance speakers at a conference on world agricultural markets here demonstrated a growing u s european consensus on the need for an urgent and collective overhaul of world farm trade and production it is vital that we work together to bring more freedom and harmony into the world agricultural trade if not the disruptions in markets may grow even more severe the walls of protection climb higher and the level of possible retaliation become more harmful u s department of agriculture deputy administrator william bailey said bailey said his attendance at the two day meeting which ends tomorrow demonstrated the u s recognises the need to adjust its policies to the changing market environment the need for urgent reforms is justified by the imbalance and tensions of the world economy the secretary general of the organisation for economic cooperation and development jean claude paye said and the forum for such a reform is the general agreement on tariffs and trade he noted paye stressed the need for a progressive and joint reduction of agricultural subsidies as well as social measures to help farmers in unprofitable areas another possible solution would be to stop supporting farm prices allowing them to be fixed by supply and demand and instead help farmers through income support and adjustment aids proposed james howard executive vice president of cargill usa one of the world s largest cereal houses franz josef feiter agricultural adviser to west german chancellor helmut kohl agreed the european community must take greater heed of market constraints in fixing farm prices however differentiated policy treatment is required to take account of large disparities in the situation around the ec he said agriculture is an efficient sector of the european economy and will remain so if the right policy is pursued within the community he said reuter 
acq	rexcom rxsc to acquire marketing firm rexcom systems corp said it agreed to buy all the assets of postech inc from comtech group international ltd a canadian computer service company for pct of rexcom s voting shares the purchase will be for rexcom common and preferred stock postech the canadian firm s u s marketing arm sells computerized restaurant management systems and security systems in the u s the deal is subject to approval by the boards of postech and rexcom reuter 
earn	general refractories co grx th qtr net shr cts vs cts net vs rev mln vs mln year shr dlrs vs dlrs net vs rev mln vs mln note net includes gains from sale of non operating assets of dlrsm versus mln dlrs in net includes nonrecurring cost of mln dlrs and provision for separation pay of mln dlrs reuter 
earn	union carbide uk says long term debt rises union carbide corp said its long term debt was billion dlrs compared to billion dlrs in the company released its audited results the company also said its long term debt was reduced by about billion dlrs from the third quarter to the end of the year by asset sales and equity offerings union carbide sold its battery products home and automobile products and agricultural products businesses in in the fourth quarter it offered mln shares of stock raising about mln dlrs the asset sales and equity offering were part of a recapitalization plan undertaken by the chemicals company last year audited net earnings in of mln dlrs or dlrs a share compared to a loss of mln dlrs or dlrs were unchanged from the company s preliminary earnings report made on jan the earnings results for the fourth quarter were also unchanged included in the numbers are a mln dlr gain from sale of the different businesses a mln dlr pension credit and a charge of mln dlrs from the purchase of long term debt at a premium under the recapitalization in the audited results released today the company broke down results by business segment operating profit in the fourth quarter for all of the company s operations on a consolidated basis before corporate and interest expense and taxes was mln dlrs against a loss of three mln dlrs in the quarter in the year operating profit was mln dlrs compared to a loss of mln dlrs in in a statement the company said it defeated a hostile takeover attempt by gaf corp gaf and recapitalized the company adding while all this was going on our continuing businesses performed very soundly with substantial operating profit improvement over carbon products posted operating profit of eight mln dlrs in the quarter down from mln dlrs and mln dlrs in the year against a loss of mln dlrs chemicals and plastics had fourth quarter operating profit of mln dlrs compared to a year ago loss of mln dlrs in the year chemicals and plastics earned mln dlrs against losses of mln dlrs in operating income at industrial gases rose to mln dlrs from mln in the quarter and to mln dlrs from mln in the year the company s specialties and services segment cut its losses in the quarter to mln dlrs from mln dlrs and in the year to three mln dlrs from mln dlrs eliminations of business conducted between the company s industry segments contributed two mln dlrs to fourth quarter profits but did not affect the quarter the eliminations caused losses of three mln dlrs compared to six mln dlrs in the year the operating results include a host of unusual writeoffs and depreciation charges totaling mln dlrs in the quarter and mln dlrs in the year capital expenditures rose to mln dlrs in from mln dlrs by segment spending at carbon products fell to mln dlrs from mln dlrs and spending fell at specialties and services to mln dlrs from mln dlrs at chemicals and plastics expenditures rose to mln dlrs from mln and at industrial gases they rose to mln dlrs from mln dlrs the company s cash and equivalents fell to mln dlrs at year end from mln dlrs at year end after a net decrease of mln dlrs during current assets at year end fell to billion dlrs from billion dlrs and current liabilities fell to billion dlrs from billion reuter 
earn	first commercial bancorp fcob th qtr loss shr loss cts vs loss dlrs net loss vs loss year shr loss cts vs loss dlrs net loss vs loss assets mln loans mln deposits mln note loss included non recurring expenses of dlrs comprised of asset write downs legal proceeding and a dlr provision for loan losses reuter 
earn	harcourt brace jovanovich inc hbj th qtr net shr cts vs cts net vs revs mln vs mln avg shrs mln vs mln year shr dlrs vs dlrs net mln vs mln revs billion vs mln avg shrs mln vs mln note on dec one company acquired holt rinehart and winston and w b saunders and the dryden press and their foreign subsidiaries by including these companies for the single month of december th qtr earnings were raised by seven cts per shr and for the year by eight cts per shr reuter 
acq	lone star lce agrees to buy concrete operations lone star industries inc said it has agreed to acquire ready mixed concrete and aggregates businesses from riedel international inc of portland ore for an undisclosed amount of cash lone star s one sentence statement gave no further details and company spokesmen were not available reuter 
earn	shell francaise returns to profit in shell francaise sfmf pa a subsidiary of shell petroleum nv returned to the black last year for the first time since with parent company net profit of mln francs against losses of mln in and billion in in it posted a profit of mln the company said in a statement that cash flow had improved strongly although it remained negative at mln francs against billion in due largely to improved performances by its main profit centres it said the results could have been even better had it not been for the collapse of refining and sales profit margins in the last quarter of the year in shell sold mln tonnes of oil products against mln tonnes in the company said the results were in line with its targets for the second year of its three year recovery programme meanwhile societe shell chimie said it also returned to profit in for the first time since posting net profit of mln francs against a loss of mln no other details were available reuter 
earn	fairmount chemical co inc fmtc th qtr loss shr loss cts vs loss cts net loss vs loss sales vs year shr loss cts vs loss cts net loss vs loss sales vs reuter 
earn	humana inc hum regular dividend qtly div cts vs cts in prior qtr payable may one record april two reuter 
acq	financial corp fin unit buys branches financial corporation of america s american savings and loan association unit said it signed a definitive agreement to buy three retail savings branches from gibraltar financial corp s gfc gibraltar savings unit the purchase which must be approved by the federal home loan bank and the california department of savings and loans would increase american savings deposits by about mln dlrs the branches are in la jolla la mesa and san juan capistrano calif reuter 
crude	confidence in opec firms u s energy futures renewed confidence in opec s ability to limit production helped u s energy futures settle above yesterday s closing prices according to analysts they also said the heating oil contract found additional support from a short covering rally on the close april crude closed cts higher to dlrs april heating oil was cts higher to cts a gallon most traders expected follow through profit taking from yesterday but the market found suport from bullish reports that opec is producing within its quota said simon greenshields a vice president with morgan stanley and co inc news today including opec president rilwanu lukman statement that opec february production did not exceed its official quota of mln barrels per day helped bouy prices traders said a reuter survey found opec production in early march was mln bpd in addition to short covering heating oil found support from traders buying it against sales of gasoline and crude as well as from expectations for continued drawdowns in stocks as refiners shut down for maintenance traders said unleaded gasoline for april finished cent higher to cts a gallon reuter 
earn	fairfield communities inc fci mos dec shr loss dlrs vs profit cts net loss mln vs profit mln revs mln vs mln note year ago figures based on months ended february because company changed reporting period to end december months loss includes mln dlrs writedown of certain assets reuter 
earn	carver corp cavr th qtr net shr cts vs cts net vs sales vs year shr cts vs cts net vs sales mln vs mln reuter 
earn	inter city gas corp th qtr shr cts vs cts 
acq	unicorp uac lincoln in definitve pact unicorp american corp said it signed a definitive agreement to acquire lincoln savings bank fsb under terms of the agreement announced in january lincoln would be acquired by a unit of unicorp which is minority owned by lincoln president alton marshall the acquisition will take place through a voluntary conversion of lincoln to a federally chartered stock savings bank from a mutual federal savings bank in connection with the conversion unicorp will contribute mln dlrs in cash to lincoln reuter 
acq	humana hum declares shareholders rights plan humana inc said its board approved a shareholder rights plan or so called poison pill plan to ensure its shareholders receive fair treatment in the event of a proposed takeover humana said it is now aware of any effort to gain control of the company under the plan its board declared a dividend distribution of one right for each outstanding common share held as of march it said each right entitles holders to purchase a unit of of a share of newly authorizes series a participating preferred at dlrs per unit humana said the rights become effective after an entity acquires pct or more of its outstanding common or tenders for pct of its stock after such an acquisition then each right entitles holders to purchase securities of the company or an acquiring entity having a market value of twice the right s exercise price humana said the rights expire march unless redeemed earlier it said the rights may be redeemed by the company for one ct per right at any time prior to days following a public announcement that a pct position has been acquired reuter 
earn	fremont general corp frmi th qtr oper net oper shr profit cts vs loss dlrs oper net profit vs loss mln revs mln vs mln year oper shr profit dlrs vs loss dlrs oper net profit mln vs loss mln revs mln vs mln note oper data does not include loss from discontinued operations of dlrs or cts per shr in th qtr loss of mln dlrs or dlrs per shr in the year or gain of mln dlrs or dlrs per shr in also does not include th qtr extraordinary loss of dlrs or ten cts per shr reuter 
acq	great western financial gwf unit buys banks great western financial corp s subsidiary great western bank said it will purchase three retail banking branches in south florida with total deposits of mln dlrs great western said it will purchase branches in deerfield beach and hollywood with approximately mln dlrs in deposits from guardian savings and loan association and one in palm beach with approximately mln in deposits from goldome savings bank reuter 
acq	hughes ht changes stance on merger after suit a one billion dlr lawsuit pushed hughes tool co into an about face on its rejection of a proposed merger with baker international corp bko wall street analysts said last night hughes said the planned merger with baker was off baker then filed a suit seeking punitive damages from hughes for calling off the merger at midday today hughes said it was still interested in the merger the analysts also said hughes may be worried that its troubles could make it a takeover candidate there was speculation today that harold simmons the dallas investor might try to acquire hughes but simmons told reuters he is not interested simmons said he intends to file a d with the securities and exchange monday reporting a stake of five pct or more in some publicly traded company he declined to identify the target other than to rule out hughes one analyst said another factor in the latest hughes turnabout was borg warner corp bor which owns pct of hughes borg warner ex chairman j f bere who serves on the hughes board is believed to favor the merger with baker despite the hughes statement that it is interested in a merger and baker s response that a merger is still possibile analysts said no one could be certain where the situation was going i think the merger is not going through said phil pace analyst at kidder peabody and co he said the merger lost a lot of its appeal when the u s department of justice required that baker sell off its reed tool co operation although the reed operation is relatively small in view of the total size of a combined baker hughes pace said to pct of the cost savings are tied up in that they hughes are obviously concerned about the lawsuit said james crandell analyst at salomon brothers inc apparently they are willing to continue discussions but whether they will alter their position i don t know it s getting a little confusing said james carroll analyst at painewebber group inc he said the arguments cited by hughes yesterday for not doing the merger tend to be weak hughes said yesterday that as a condition of the merger it wanted reed tool and other businesses sold prior to april the projected merger date a government decree allowed a longer period of time hughes contended it was better to formally combine the companies with the status of reed already settled baker apparently sees no reason to speed up the sale carroll said baker had previously estimated to mln dlrs in savings if the companies were combined without selling reed but he said baker now thinks to mln dlrs will be saved while hughes sees a saving of only to mln dlrs carroll also noted that since the merger accord was first signed the outlook for the industry has improved materially hughes may simply feel the pressure on the oil service industry is lifting reuter 
acq	armtek arm sells tire truck tire business armtek corp formerly known as armstrong rubber co said it signed agreements with condere corp for the sale of its natchez miss tire plant and its s and a truck tire sales and services corp terms were not disclosed armtek spokesman john sievers said s and a is a mln dlr business earlier this week armtek announced the sale of its industrial tire and assembly business division to dyneer corp of scotsdale ariz cash proceeds from both sales will be used to reduce outstanding debt under a long term supply agreement with condere it is anticipated that truck tires produced at the natchez plant will be supplied to the armstrong tire co an armtek operating company the company said the closing is scheduled to be concluded by march it said reuter 
earn	elxsi ltd elxsf th qtr loss shr loss four cts vs loss cts net loss vs loss mln revs vs year shr loss cts vs loss cts net loss mln vs loss mln revs mln vs mln reuter 
earn	newscope resources ltd year loss shr loss cts vs profit cts net loss vs profit revs vs note net includes dlr writedown of oil and gas properties reuter 
earn	times mirror co tmc quarterly dividend qtly div cts vs cts pay june record may reuter 
earn	inter city gas corp icg th qtr net shr cts vs cts net mln vs mln revs mln vs mln year shr cts vs dlrs net mln vs mln revs billion vs billion note fl yr net includes mln dlr writedown of u s oil and gas properties partly offset by mln dlr extraordinary gain from tax gains and proceeds from sale of minnesota utility operations net includes extraordinary gain of dlrs shr after preferred divs reuter 
earn	brown transport co inc btci th qtr net shr profit cts vs profit cts net profit vs profit revs mln vs mln avg shrs mln vs mln mths shr profit dlrs vs loss cts net profit vs loss revs mln vs mln avg shrs mln vs mln reuter 
earn	metro mobile cts inc mmct first qtr loss qtr ends dec shr loss cts vs loss cts net loss vs loss revs vs avg shrs mln vs mln reuter 
earn	spar aerospace ltd year net shr basic cts vs dlrs shr diluted cts vs dlrs net vs revs mln vs mln reuter 
acq	pesch unit seeks balance of republic health alpha health systems corp a wholly owned subsidiary of pesch and co said it submitted a merger proposal to the board of reph acquisition co the parent company of republic health corp which is pct owned by pesch interests the balance of reph s common stock is owned by members of republic management mcdonnell douglas corp md donaldson lufkin and jenrette and pacific asset holdings l p republic currently owns hospitals and manages other facilities in states details of the proposal were not disclosed company representatives were not immediately available the proposal provides that reph would become a wholly owned subsidiary of alpha and that the existing reph common stockholders would become stockholders of alpha it said reph s board has appointed a special committee to negotiate terms of the proposed merger pesch said last year republic was acquired by reph in a leveraged buyout transaction led by dr leroy pesch the principal shareholder of pesch and co alpha recently submitted a second offer to acquire the stock of american medical international inc ami at dlrs a share in cash and securities which is still being considered by american medical s board pesch said reuter 
earn	spar sees sees strong five year growth spar aerospace ltd reporting a sharply lower profit said it anticipated solid profit and revenue growth during the next five years looking to the longer term spar is confident that its continuing concentration on advanced robotics satellite based communications and electro optical defense systems will lead to significant growth in revenues and earnings over the next five years the company said it also forecast higher sales due to an increased order backlog revenues last year fell to mln dlrs from mln while profit fell to mln dlrs from mln spar added that lower development costs in the communications group and a return to normal operations in gears and transmissions and aviation services will remove a serious drain on profits this year it attributed its reduced earnings to communications group losses resulting from continued heavy investment in new products and market development a four month strike at its toronto plants and delays in receipt of authorization from customers to start work on new programs reuter 
earn	chesapeake utilities corp chpk regular div qtly div cts vs cts prior pay april three record march reuter 
earn	swift independent packing co sftpr st qtr net periods ended january net vs revs mln vs mln reuter 
acq	chemlawn says it rejects dlrs per share tender offer from waste management 
trade	france yugoslavia commission to boost trade france and yugoslavia agreed to set up a joint economic commission as part of efforts to promote commercial links and industrial cooperation between the two countries the french finance ministry said the commission to be composed of businessmen was agreed during talks between foreign trade minister michel noir and yugoslavian minister without portfolio egon padovan a ministry statement said both sides had agreed on the need to boost trade links in keeping with an accord signed last year calling for a pct rise in commercial exchanges between the two countries over the next six years french trade with yugoslavia has grown little over the past two years reuter 
acq	chemlawn chem rejects waste s wmx offer chemlawn corp said its board rejected waste management inc s dlr per share tender offer and urged its shareholders not to tender their shares chemlawn said its board asked management and its financial advisor smith barney harris upham and co inc to seek other purchasers of the company to maximize shareholder value chemlawn also said it adopted a shareholder rights plan or poison pill during a intermin safeguard period its board adopted to deter attempts to acquire the company through any means other than an all cash tender offer while it seeks other purchasers chemlawn also said it began litigation against waste management in federal court in columbus seeking injunctive and other relief the suit alleges among other things that certain waste management officers and directors purchased chemlawn s stock before making the tender offer chemlawn claimed such purchases possibly violated the officers fiduciary duties and the securities and exchange commission s insider trading rules last week waste management made a tender offer to acquire chemlawn for dlrs per share or mln dlrs chemlawn said its board was determined that waste s offer was inadequate and not in the best interest of shareholders and could adversely affect the interests of its employees suppliers creditors and customers our board carefully reviewed waste management offer and concluded that it does not fully reflect the value of the company we strongly urge our shareholders not to tender their shares to waste management said chairman l jack van fossen chemlawn said its rights plan is designed to protect shareholders against abusive tactics such as market accumulations by waste management or others under the plan one comon stock purchase right will be distributed as a dividend on each outstanding share of chemlawn common chemlawn said its rights holders can buy a share of its common for one dlr if any entity acquires pct or more of its commmon other than by an all cash tender offer for all its shares or an approved acquisition agreement by its board it said the rights expire july three or days after they become exercisable if later than that date it said its board may redeem the rights for five cts per right any time prior to their exercise date chemlawn said the plan will not be triggered by purchases purusant to waste management s present tender offer it said the dividend will be paid to shareholders of record march reuter 
earn	cambior inc five mths dec net shr cts vs not given net vs not given revs mln vs not given reuter 
acq	conagra cag to acquire monfort mmft conagra inc agreed to acquire monfort of colorado inc in a stock transaction both companies said according to the letter of intent signed by the companies conagra will acquire all of monfort s mln outstanding shares for mln of its own shares based on conagra s closing price of dlrs today the transaction is worth about mln dlrs the merger is expected to be completed in june they said the companies said the acquisition will result in a restatement of conagra s earnings for the fiscal year ending may but the restatement is not expected to materially change the previously reported or upcoming fiscal year end earnings in fiscal conagra had net income of mln dlrs on sales of billion dlrs for its fiscal year ending august monfort reported mln dlrs in earnings on sales of billion dlrs the company is one of the largest lamb and beef producers in the u s producing transporting and selling the products domestically and internationally reuter 
acq	mcdonnell douglas md not approached by pesch mcdonnell douglas corp which has a five mln dlr investment in republic health corp reph said it has not been approached to sell its shares in republic health earlier alpha health systems corp a unit of pesch and co said it submitted a merger proposal to the board of reph acquisition co the parent of republic health leroy a pesch is the principal stockholder of pesch we have not been approached by mr pesch or anybody else with respect to our holdings in republic health a mcdonnell douglas spokesman told reuters reuter 
earn	paradyne pdn pleads guilty to criminal charge paradyne corp said it pleaded guilty to criminal charges of conspiracy to defraud the social security administration and agreed to pay mln dlrs in fines and costs to the u s government the company also reached agreements in principle for an mln dlr settlement of class action law suits about mln dlrs of the class action settlement will be provided by paradyne s insurance carrier the settlement is contingent on court approval after notice to class members it said the criminal case settlement dismisses all charges including bribery and false statement except for conspiracy to which paradyne pleaded guilty the criminal settlement includes the lifting of the government s suspension the dismissal of the federal civil false claims suit and all charges against the individuals of the mln dlrs the insurance carrier will provide for the civil settlement dlrs will go to settle a derivative lawsuit for the year ended december paradyne reported a net loss of mln dlrs the year end results include an mln dlrs provision for future legal and or settlement costs to cover the civil and criminal settlements announced today paradyne also said it named jerry kendall as president and chief executive officer succeeding robert wiggins who resigned as chairman and chief executive officer as part of the settlement of the indictment kendall formerly served as executive vice president and chief operating officer the company also said that due to the sluggish marketplace it does not expect to be profitable in the first quarter but is optimistic about the outlook for the year for the first quarter of the company reported net income of dlrs on sales of mln dlrs wiggins was among five paradyine executives who were charged along with three former officers in a federal indictment stemming from a mln contract awarded to paradyne in to build a computer network for the social security administration the men were accused of conspiring to bribe government officials and defaud the social security administration wiggins and other defendants were also charged with providing false testimony and obstructing justice during a securities and exchange commission investigation under the settlement announced today federal prosecutors agreed to defer all charges against wiggins and three other defendants under a one year pretrial agreement the charges would then be dropped if the defendants successfully complete the probation period details of the requirements in the agreement were not immediately available reuter 
crude	greece repeats it can decide on aegean drilling greece replying to a warning from turkey that it will stop athens from seeking oil in the aegean sea repeated today that it has an exclusive right to decide where or when to drill in the area a government spokesman said in a statement that if ankara believed greece was contravening international law it could bring the issue before the courts the spokesman was responding to a statement by turkish foreign ministry spokesman yalim eralp that ankara would take action to stop greece s oil activities beyond its territorial waters as they were a violation of the berne accord reuter 
earn	nca corp ncac th qtr loss shr loss cts vs loss dlrs net loss vs loss revs vs year shr loss cts vs loss dlrs net loss vs loss revs mln vs mln reuter 
earn	biomedical dynamics corp bmdc th qtr net shr profit one ct vs loss two cts net profit vs loss sales vs year shr loss one cts vs loss five cts net loss vs loss sales mln vs reuter 
acq	santa fe southern pacific appeals merger ruling santa fe southern pacific corp will later today formally ask the u s interstate commerce commission icc to reconsider its earlier rejection of the merger of the holding company s railroad assets a company spokesman said we expect to file papers late tonight asking the icc to reopen the rail merger case spokesman rich hall said in a telephone interview from the company s chicago headquarters the icc had rejected in july on grounds it would reduce competition the merger of the santa fe and southern pacific railroads the deadline for seeking icc reconsideration of the merger plan is midnight tonight santa fe southern pacific owns the santa fe railroad and holds the southern pacific railroad assets in trust while awaiting federal approval of the merger plan the icc had ordered the holding company to divest one or the other railroad but stayed its ruling pending a decision on the request for reconsideration if the icc ultimately decides not to reopen the case it is expected to reinstate the divestiture order reuter 
crude	iea says opec february crude output mln bpd opec produced an average mln barrels per day bpd of crude oil in february down from mln the previous month and an overall mln bpd in fourth quarter the international energy agency said a few opec countries last month exceeded the production quotas set at their last conference in december but liftings were reduced from several countries it said in its latest monthly oil market report these cutbacks were due in part to buyer resistance to fixed prices introduced from february particularly for fixed volumes over an extended period it gave this breakdown for opec crude output in mln bpd fourth qtr january february saudi arabia iran iraq uae kuwait neutral zone qatar nigeria libya fourth qtr january february algeria gabon venezuela ecuador indonesia total the iea said while saudi production stayed below its quota of mln bpd actual sales might exceed output due to norbec stock disposals contracts for saudi crude have been signed but it is understood they have much leeway in required liftings the report said the reduction in iraqi air attacks on iranian export facilities allowed iran s output to reach mln bpd in january but buyer resistance to fixed prices apparently cut february production it said iraqi exports are about mln bpd through the turkish pipeline mln by truck through jordan and mln via the saudi pipeline to yanbu internal consumption is some mln bpd the iea estimated total non communist world oil supply in february at mln bpd down from mln in january and mln in the fourth quarter the february world supply figure is made up of mln bpd opec crude production mln bpd opec natural gas liquids ngls mln bpd oecd crude and ngls mln bpd other developing countries crude and ngls net trade of mln bpd with centrally planned economies mln bpd of non conventional crudes such as tar sands and oil from coal and mln bpd from processiing gains within the oecd preliminary norwegian data show record mln bpd output in january with lower production expected in february in accordance with government curtailments of approximately bpd announced in support of opec reuter 
acq	enfield corp plans notes preferred issue enfield corp ltd said it planned to issue mln dlrs principal amount of notes and mln class e preferred shares at dlrs a share the notes would bear pct yearly interest mature march and be convertible to common shares on either march or the business day before a fixed redemption date at dlrs a share enfield said it said each preferred share would be convertible to common shares on either march or the business day before a fixed redemption date gordon capital corp and dominion securities inc agreed to acquire the issues it said enfield said it would use proceeds to retire short term bank debt and boost its pct stake in consumers packaging inc and its interest in federal pioneer ltd through open market purchases reuter 
acq	wichita wro to buy fountain oil fgas wichita industries inc said it agreed to buy fountain oil and gas inc wichita said it it will acquire all of the outstanding shares of fountain in an exchange for about mln newly issued wichita common shares wichita presently has about mln shares outstanding the transaction calls for the issuance of shares of wichita common for each outstanding fountain share wichita also said it made a number of refinancing agreements in connection with the acquisition reuter 
crude	pemex lowers february far east crude oil prices the mexican state oil company petroleos mexicanos pemex said its far east customers would be charged dlrs per barrel for isthmus crude in february and dlrs for the heavier maya pemex said this was cts less than january isthmus and cts less than january maya far east customers primarily japan which buys an average barrels per day of which is isthmus pay retroactively while european and u s clients are charged per delivery reuter 
acq	reph acquisition to negotiate pesch merger bid reph acquisition co said its board appointed a special committee to negotiate the terms of an offer made earlier today by pesch and co to merge with its republic health corp reph unit pesch through its alpha health systems corp unit offered to acquire the pct of republic health stock that it does not already own terms of pesch s offer have not been disclosed reuter 
acq	hunt group has comdata stake seeks influence an investor group led by members of the hunt family of dallas texas told the securities and exchange commission it has acquired a pct stake in comdata network inc cdn and may try to influence company policy the investor group led by rosewood financial inc said it opposes a company recapitalization plan worked out between comdata and mason best co a texas investment firm which last reported holding about pct of the company s stock the hunt group said it offered on march to buy the entire pct stake held by dissident shareholder donald carter at dlrs each but has received no reply as of yesterday rosewood which is owned by the caroline hunt trust estate whose trustees include margaret hunt hill also said it has notified the federal trade commission of its intent to buy between and pct of comdata s common stock under federal law it cannot buy more than pct of comdata s stock until a to day waiting period is over unless the ftc gives it early approval under the proposed comdata recapitalization plan the company would buy up to mln of its common shares at dlrs each mason best which belongs to cni parnters a texas partnership would not tender any of its stake under the plan but would instead buy another one mln comdata common shares and would get representation on the company s board the hunt group said it has told comdata that it considers required payments under the plan such as a mln dlr fee and the issuance of a warrant to buy common shares to be a waste of the company s assets the hunt group which also includes securities texas firms cypress partners l p and driftwood ltd said it spent mln dlrs on its comdata common shares reuter 
acq	santa fe southern pacific appeals merger ruling santa fe southern pacific corp will later today formally ask the u s interstate commerce commission icc to reconsider its earlier rejection of the merger of the holding company s railroad assets a company spokesman said we expect to file papers late tonight asking the icc to reopen the rail merger case spokesman rich hall said in a telephone interview from the company s chicago headquarters the icc had rejected in july on grounds it would reduce competition the merger of the santa fe and southern pacific railroads the deadline for seeking icc reconsideration of the merger plan is midnight tonight reuter 
earn	e a viner holdings ltd eavkf th qtr loss shr loss cts vs profit seven cts net loss vs profit revs vs year shr profit cts vs loss cts net profit vs loss revs mln vs mln note th qtr net includes mln u s dlr or ct shr writedown of stake in heck s inc hex and u s dlr or three ct shr writedown of arbitrage positions fl yr net includes dlr net writedown of stake in heck s u s dlrs reuter 
acq	carpet firm unit cuts allied products adp stake a group led by gfi nevada inc a subsidiary of general felt industries a saddlebrook n j carpet maker said it cut its stake in allied products corp to shares or pct from shares or pct in a filing with the securities and exchange commission gfi said it sold allied products common shares on march at dlrs each and donated another shares to two universities it said its dealings in the company s common stock were for investment purposes only reuter 
ship	talks fail to end brazilian seamen s strike pay talks aimed at ending a week old national seamen s strike collapsed today and the strike will continue a union official said the walkout by brazil s seamen has idled ships in various ports jorge luis leao franco a senior official of the national merchant marine union told reuters the strikers who are seeking a pct pay increase have rejected offers of a pct raise from the state oil company petrobras and an pct increase from the national union of maritime navigation companies syndarma leao franco said eight hours of talks in rio de janeiro with labor minister almir pazzianotto ended today without resolving the dispute he said six ships were idle abroad in the netherlands spain venezuela france and south africa economic analysts said the strike was of major concern to the government which has suspended interest payments on part of brazil s foreign debt following a drastic deterioration in the country s trade balance the head of the national merchant marine authority murilo rubens habbema was quoted today as saying that if the strike continued foreign ships could be authorized to transport brazilian exports brazil is living through a crisis at the moment and it is not conceivable that exports be hit he told the gazeta mercantil newspaper reuter 
acq	shearson has pct of chicago milwaukee chg shearson lehman brothers inc the brokerage subsidiary of american express co axp said it has acquired shares of chicago milwaukee corp or pct of its total outstanding common stock in a filing with the securities and exchange commission shearson said it bought the stake for mln dlrs for investment purposes and has no intention of seeking control of the company reuter 
earn	viner eavkf viable after heck s hex move e a viner holdings ltd said the earlier reported chapter bankruptcy filing of heck s inc hex in which viner holds shares would not materially affect viner s capital position or its ability to carry on its profitable brokerage business viner said its brokerage subsidiary edward a viner and co had regulatory capital of mln u s dlrs at year end the company said heck s chapter filing could however affect viner s previously reported legal action to recover costs from an aborted merger agreement with heck s it said it and the toussie viner group with which it made the merger offer were assessing their options regarding the heck s investment viner earlier reported a fourth quarter loss of u s dlrs after a mln dlr writedown of its stake in heck s it earned dlrs in the previous fourth quarter full year earnings totaled mln dlrs against a year earlier loss of mln dlrs the full year earnings included a dlr net writedown of the heck s stake it said reuter 
acq	twa twa sues usair u over poison pill trans world airlines inc said it filed suit in delaware chancery court against usair group inc and its board of directors seeking to invalidate its poison pill anti takeover plan twa vice president and general counsel mark buckstein said twa also sought a declaratory judgement from the court that its dlr per share takeover offer for usair would in no way interfer with usair s possible buyout of peidmont aviation inc pie buckstein said twa asked the court to enjoin the enforcement of usair s shareholder rights plan or poison pill such provisions which typically allow for the issue of securities to shareholders in the event of a hostile takeover bid are aimed at deterring takeovers by making them more expensive usair earlier today rejected twa s offer saying twa s bid was an attempt to interfer with its buyout of piedmont usair also had said its counsel would investigate the matter tonight a spokesman for usair said the airline had no comment on twa s lawsuit usair did respond however to a twa request to the department of transportation for permission to buy up to pct of usair stock and place the stock in a voting trust pending approval of a takeover usair said the request was hastily pasted together in order to take advantage of a regulatory anamoly that would allow twa to accomplish in a regulated environment actions that would be impermissable in the non regulated economy at large usair called on the transportation department to reject twa s request reuter 
earn	four seasons hotels inc year net oper shr cts vs cts oper net vs revs mln vs mln note net excludes extraordinary gain of mln dlrs reuter 
earn	ivey properties inc raises quarterly dividend ivey properties inc said it raised its quarterly dividend to cts a share from cts and declared both an extra dividend of cts a share and a pct stock dividend it said the dividends will be paid april one to shareholders of record march for the stock dividend ivey said it will pay for fractional shares at dlrs per share reuter 
acq	group boosts scandinavia fund scf stake a shareholder group led by a swedish investment firm and a norwegian investor said it raised its stake in the scandinavia fund inc to shares or pct of the total from shares or pct in a filing with the securities and exchange commission the group which includes ingemar rydin industritillbehor ab the firm and investor erik martin vik said it bought the additional shares between feb and march reuter 
acq	offshore investment firm ups france fund stake vbi corp an offshore based investment firm told the securities and exchange commission it raised its stake in the france fund inc frn to shares or pct of the total from or pct vbi which is based in turks and caicos islands the british west indies said it bought the additional shares between feb and march it has said it bought its france fund stake for investment purposes only reuter 
earn	tpa of america inc tps th qtr loss shr loss five cts net loss revs avg shrs mln year shr loss seven cts net loss revs mln avg shrs mln note company started operating in august results reflect change in fiscal year from november end reuter 
earn	mcgrath rentcorp mgrc sees net rising mcgrath rentcorp said as a result of its december acquisition of space co it expects earnings per share in of to dlrs per share up from cts in the company said pretax net should rise to nine to mln dlrs from six mln dlrs in and rental operation revenues to to mln dlrs from mln dlrs it said cash flow per share this year should be to three dlrs reuter 
earn	silver state mining corp ssmc th qtr net shr one ct vs one ct net vs revs vs year shr seven cts vs one ct net vs revs vs reuter 
earn	sizzler restaurants international inc sizz net shr cts vs cts net vs revs mln vs mln avg shrs mln vs mln nine mths shr cts vs cts net vs revs mln vs mln avg shrs mln vs mln reuter 
acq	mcandrews and forbes are offering dlrs per share for revlon stock 
money-fx	u k money market deficit revised to mln stg the bank of england said it had revised its estimate of the shortage in the money market back to its initial forecast of mln stg at midsession the central bank changed the shortfall to mln and provided assistance worth mln stg through bank bill purchases in bands one and two at established dealing rates reuter 
earn	donegal group inc dgic year net shr six cts net revs note company formed in august reuter 
earn	peter miller apparel group rd qtr jan loss shr loss cts vs profit seven cts net loss vs profit revs mln vs mln nine mths shr loss cts vs profit seven cts net loss vs profit revs mln vs mln note shr figures adjusted for issue of shares in october avg shrs not given full name is peter miller apparel group inc reuter 
earn	krelitz industries inc krlz rd qtr net period ended jan shr seven cts vs cts net vs sales mln vs mln nine mths shr cts vs cts net vs sales mln vs mln note prior year period ended sept comparable periods reflect change in fiscal yearend to april from december reuter 
earn	donegal dgic projects full year results donegal group inc which today reported earnings of dlrs on revenues of dlrs for the period from august startup through the end of said it expects much improved profits for the full year on revenues of about mln dlrs reuter 
acq	macandrews and forbes holdings bids for revlon mcandrews and forbes holdings inc said it will offer dlrs per share for all of revlon group inc s rev outstanding common stock mcandrews said terms of the acquisition have not been determined and are subject to the acquisition of financing revlon closed yesterday on the new york stock exchange at the company said it would bid for all stock it or its affiliates do not already own mcandrews and forbes said it informed the board of directors of revlon that it expects to make a formal proposal in the near future it also said there can be no assurance as to the terms of the proposals or that the deal can be concluded reuter 
acq	borealis in gold exploration pact with faraway borealis exploration ltd said it entered into an agreement with faraway gold mines ltd of vancouver british columbia under which faraway will acquire an interest in borealis s whale cove gold property in the keewatin district of the northwest territories faraway will spend mln dlrs on exploration over three years and will hold pct of the property until all expenses are paid out when the interest will drop to pct also borealis and faraway will issue treasury shares to each other and faraway will buy borealis shares from borealis president lorne spence reuter 
acq	imre imre sells stock to european institutions imre corp said it has received commitments for a group of european institutions to buy about imre shares for dlrs with closing expected on march reuter 
acq	instrumentarium acquires nokia subsidiary finland s medical group instrumentarium oy inmr he said it has acquired electronics components importers and marketers ferrado oy and insele oy subsidiaries of finland s electronics group nokia oy noks he it said in a statement ferrado and insele will be merged into instrumentarium s professional electronics and information systems division it did not disclose a price for the acquisitions but said it had issued restricted b shares as partial payment to nokia reuter 
earn	fuqua industries inc fqa sets quarterly qtly div six cts vs six cts prior pay april one record march reuter 
earn	m corp inc year dec net shr cts vs cts net vs revs mln vs mln avg shrs mln vs mln note share results reflect two for one stock split in june reuter 
acq	dome petroleum reaffirms dome mines stake for sale at right price spokesman says 
acq	commonwealth mortgage ccmc buys armonk firm commonwealth mortgage co said it purchased westfiar funding corp of armonk n y for an undisclosed amount of cash commonwealth said westfair originated mln dlrs of residential mortgage loans during reuter 
earn	m corp inc raises dividend semi annual div cts vs five cts pay april nine record march reuter 
crude	permian pbt raises crude prices permian corp said that effective march it raised its posted prices for crude oil cts a barrel the raise brought its posted prices for west texas intermediate up by cts to dlrs a barrel west texas sour was also raised by cts to dlrs a barrel a permian spokesman said that the south louisiana sweet posted prices was also raised cts a barrel to dlrs reuter 
earn	american stores co th qtr shr dlrs vs dlrs 
earn	central sprinkler corp cnsp st qtr jan net shr cts vs cts shr diluted cts vs cts net vs sales mln vs mln avg shrs s vs avg shrs diluted vs reuter 
earn	far west industries inc raises dividend annual div four cts vs cts pay march record march reuter 
earn	far west industries inc year net shr cts vs cts net vs revs mln vs mln reuter 
acq	dome dmp repeats dome mines dm stake for sale dome petroleum ltd s pct stake of gold producer dome mines ltd continues to be for sale at the right price spokesman david annesley said in response to an inquiry reaffirming remarks made last year by chairman howard macdonald annesley said the company is considering selling its stake in dome mines concerning dome petroleum s pct stake in encor energy corp ltd annesley said encor is a strategic investment for dome and we have no intention of selling it dome spokesman annesley said in answer to a question that he was not aware of any negotiations now under way toward the sale of dome petroleum s mln dome mines shares he also declined to specify at what price the company would consider selling it shares clearly today s prices of more than dlrs a share of dome mines stock are very attractive annesley commented we were considering the sale at the right price at a time when the shares were priced around nine to dlrs he added a price of around dlrs a share would be considered fairly attractive annesley said annesley also dome petroleum may be able to sell its dome mines shares at a premium to market prices there might be an opportunity to pick up a premium on that because it would be virtually a control block in dome mines he said dome mines shares traded earlier at dlrs off on the toronto stock exchange dome petroleum is now negotiating a plan to restructure debt of more than billion canadian dlrs with a group of major creditors which includes dome mines and encor energy the company previously said it expects to detail the plan to lenders early next week reuter 
earn	selecterm inc sltm th qtr loss shr loss not given vs profit cts net loss vs profit revs vs year shr profit cts vs profit cts net profit vs profit revs mln vs mln note pretax net profits dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter 
acq	stone container sto completes waiting period stone container corp said it and southwest forest industries inc swf completed all waiting period requirements under the hart scott rodino anti trust improvements act of stone said it will proceed with its previously proposed acquisition of southwest reuter 
earn	residential mortgage investments inc rmi payout qtly div cts vs cts prior pay april record march reuter 
acq	southwest swf stone sto comply for merger southwest forest industries said it and stone container corp have complied with all federal waiting period requirements for stone s proposed dlr per share cash acquisition of southwest southwest currently has mln shares outstanding the companies entered into a merger agreement on january and made their initial findings with the department of justice and the federal trade commission on february three southwest said the waiting period expired on march without receiving a formal second request for information reuter m 
earn	okc limited partnership okc sets lower payout okc limited partnership said it will make a five ct per share distribution to unitholders down from cts in december and payable march to holders of record march the partnership said the payout is the largest quarterly cash distribution allowable under terms of its letter of credit reuter 
earn	biotech research laboratories inc btrl th qtr shr profit one ct vs loss seven cts net profit vs loss revs vs year shr loss seven cts vs loss cts net loss vs loss revs vs shr out vs reuter 
earn	american stores co asc th qtr net shr dlrs vs dlrs net mln vs mln revs billion vs billion year shr dlrs vs dlrs net vs mln revs billion vs billion note th qtr and yr per shr amts includes reduction of cts per shr for establishment of reorganization reserves tax increase reduced yr per shr by cts reuter 
trade	baker says g pact just a start treasury secretary james baker said the agreement among industrial nations in paris last month is only a start in washington s drive to intensify economic cooperation among leading countries in a speech to the national newspaper association baker said the six steps beginning with the plaza agreement and culminating in the paris accord are only a start he added we see our role as a steward of a process in which we sit down with our industrial allies to find ways to promote more balanced international growth the paris agreements called trade surplus countries to strengthen their growth and on the u s to reduce its budget deficit under such circumstances the countries agreed their currencies were within ranges broadly consistent with economic fundamentals baker also said he still sees ominous signs of pressure for protectionist trade legislation and this pressure for protectionism is coming from new areas of society but he also said he believed a coalition was forming that supported free trade reuter 
trade	treasury s baker forecasts reduction in japanese trade surplus this year 
earn	boston bancorp sbos sets two for one split boston bancorp said its board declared a two for one stock split payable march record march reuter 
acq	correction macandrews and forbes holdings in new york story headlined macandrews and forbes holdings bids for revlon pls read in headline and first paragraph macandrews and forbes considers bid for revlon and in first paragraph macandrews and forbes holdings inc said it is considering making a proposal corrects from bids for revlon in headline and will offer in first paragraph 
ship	some shipping restrictions remain on rhine limited shipping restrictions due to high water remain in force on parts of the west german stretch of the rhine river between the dutch border and the city of mainz but most are expected to be lifted this weekend water authority officials said the restrictions caused by high water levels include speed limits and directives to keep to the middle of the river to prevent damage to the river banks the high water was expected to recede within two days to below levels at which the restrictions come into force traffic was halted briefly late tuesday night wednesday and parts of thursday on stretches of the rhine between bonn and koblenz but the shipping bans were lifted the officials said shipping is now permitted on all parts of the west german section of the rhine with restrictions in some areas reuter 
acq	hawker siddeley offer for clarostat clr ends hawker siddeley group plc s offer of dlrs a share for all of clarostat mfg co inc s stock was scheduled to expire at est yesterday company officials were unavailable for comment as to why the american stock exchange had stopped trading in clarostat s stock for a pending news announcement reuter 
acq	taft tfb given deadline on buyout proposal narragansett capital inc narr said it and dudley s taft have requested a response from taft broadcasting co by march earlier today taft broadcasting said taft the company s vice chairman and narragansett had offered dlrs for each of taft s mln outstanding shares the company said the offer is conditioned on approval of its board but a spokesman declined comment on whether or not the board has scheduled a meeting the narragansett taft group will provide the equity portion of the offer by contributing at least mln dlrs in cash and taft broadcasting common narragansett said it said the group has been advised by first boston inc s fbc first boston corp that the investment banker is highly confident that financing for the acquisition can be consummated narragansett said the offer is subject to negotiation of a definitive merger agreement and definitive financing agreements as well as approval by regulators taft s board and taft s stockholders the narragansett taft group said its letter to taft s board states the group intends to return control over a significant portion of the company s equity to the taft family while providing other stockholders with a means of realizing a very attractive value for their shares reuter 
earn	peter miller apparel group inc rd qtr loss period ended january shr loss cts vs profit seven cts net loss vs profit sales vs nine mths shr loss cts vs profit seven cts net loss vs profit sales vs note per share reflects issue of shares in october reuter 
acq	santa fe southern sfx appeals merger ruling santa fe southern pacific corp said it filed a petition asking the u s interstate commerce commission to reconsider its earlier rejection of the merger of the holding company s railroad assets the icc had rejected in july the merger of the santa fe and southern pacific railroads on the grounds that it would reduce competition santa fe in its petition outlines an array of pro competitive agreements with other railroads which would preserve the economic benefits of the merger for the merged railroad and the public if the commission agrees that public benefits and competitive enhancements will result it can vote to reopen the merger case interested parties have until march to file statements in response to the supplemental petition reuter 
trade	baker sees lower japanese trade surplus u s treasury secretary james baker said the japanese trade surplus would begin to decline this year he told the national newspaper association you re going to see a reduction in the japanese trade surplus some of it this year but he said the reduction would be due principally to the exchange rate shifts since the plaza agreement and these shifts would take a long time to work their way through the system reuter 
earn	cineplex odeon corp year oper shr basic dlrs vs cts 
acq	monfort mnft soars on acquisition agreement monfort of colorado inc soared to in over the counter trading responding to an announcement late yesterday that the firm will be acquired by conagra inc cag according to a letter of intent signed by both companies conagra will offer of its own shares for each of monfort s mln outstanding shares conagra fell one to on the new york stock exchange monfort is an integrated beef and lamb producer reuter 
acq	nordbanken to auction its fermenta shares sweden s nordbanken banking group said it would sell the mln b free shares deposited as loan collateral by fermenta ab s frms st founder and former chief executive refaat el sayed and it planned to buy them up itself the bank said the sale by public auction on march was because of a debtor s inability to repay an overdue loan the b free shares closed at crowns on the bourse s unofficial list down from a peak of in january nordbanken said it did not exclude accepting a suitable bid for the shares although it expected to buy them back itself the statement said the sale did not represent any withdrawal from nordbanken s undertakings towards the fermenta group and that it had been sanctioned by the other main shareholders nordbanken is fermenta s third largest creditor with loans of mln crowns it was one of the four swedish banks which last month agreed to advance the group mln crowns to solve its immediate liquidity problems together with two other main shareholders it also advanced fermenta an additional mln crowns until a new equity issue could be made fermenta is due to hold an extraordinary shareholders meeting on tuesday to approve the planned equity issue nordbanken had to make a provision against a mln crown loan to el sayed in its results fermenta s new management originally hoped to raise mln crowns through the new one for four rights issue and an extra mln from an issue to nordbanken another major creditor and shareholder gotabanken and the group s new majority owner industrivarden ab the share price was to be crowns but there has been doubt over the plans since the stock fell below this level this week after fermenta s former chairman kjell brandstrom said the company was in a much worse state than he thought reuter 
earn	united industrial corp uic th qtr loss shr loss dlrs vs profit cts net loss mln vs profit sales mln vs mln year shr loss cts vs profit dlrs net loss vs profit mln sales mln vs mln avg shrs mln vs mln note net includes tax credits of mln dlrs in quarter and dlrs in year year net includes dlr loss from discontinued operations and mln dlr gain on their disposal net both periods includes mln dlr provision for future losses from several major projects in defense contractor subsidiary backlog mln dlrs up six pct from a year before share adjusted for pct stock dividend in february reuter 
earn	cineplex odeon corp year net oper shr basic dlrs vs cts oper shr diluted cts vs cts oper net mln vs mln revs mln vs mln avg shrs mln vs mln note net excludes extraordinary gain of dlrs or cts shr basic and eight cts shr diluted net involves week reporting period to reflect change in yr end to coincide with calendar yr reuter 
acq	mine safety appliances mnes to sell unit mine safety appliances co said it agreed to sell its filter products division to donaldson co inc dci for undisclosed terms it said the filter products unit will be relocated from its plant in pennsylvania to a donaldson facility in illinois it said it expects a number of the unit s employees will be offered positions with donaldson reuter 
earn	prospect group inc prosz th qtr loss shr loss cts vs loss cts net loss vs loss revs mln vs mln avg shrs mln vs mths shr profit cts vs loss cts net profit vs loss revs mln vs mln avg shrs mln vs notes in may prospect raised dlrs from an initial public offering of common stock the company purchased in march midsouth corp a regional railroad company in mississippi and louisiana which contributed sales of mln dlrs and operating income of mln dlrs during first nine months of operation reuter 
earn	france fund inc frn sets initial dividend france fund inc said its board declared an initial dividend of dlrs per share payable april six to holders of record march the fund said the dividend represents two cts per share for net investment income realized during and dlrs from net taxable gains realized during the year reuter 
earn	heineken n v hein as year pre tax profit mln guilders vs mln net profit mln guilders vs mln consolidated net turnover billion guilders vs billion net profit per guilder nominal share guilders vs taking into account one for three scrip issue last year final dividend two guilders vs same making total guilders vs same reuter 
earn	national security insurance co nsic th qtr oper shr loss cts vs profit cts oper net loss vs profit year oper shr profit dlrs vs loss cts oper net profit vs loss note net excludes realized capital loss dlrs vs gain dlrs in quarter and gains dlrs vs dlrs in year net both periods excludes tax credit dlrs reuter 
earn	cyprus minerals cypm named in suits cyprus minerals co said along with about other companies it has been named a defendant in product liability lawsuits filed in california by individual tireworkers aleging injury as a result of exposure to talc and other products it said other suits are expected to be brought cyprus which produces talc said it has significant factual and legal defenses and substantial insurance coverage and does not expect the suits to have a material adverse impact on its financial condition reuter 
acq	donaldson dci to buy mine safety mnes unit donaldson co inc said it reached an agreement to buy the assets of the filter products division of mine safety appliances co for undisclosed terms it said filter products will operate as part of donaldson s industrial group and its manufacturing operations will be relocated to dixon ill from evans city pa donaldson said the acquisition complements its microfiltration business and internal research and development efforts reuter 
earn	arundel corp arl th qtr net shr dlrs vs dlrs net vs revs mln vs mln year shr dlrs vs dlrs net vs revs mln vs mln reuter 
earn	gulf states utilities gsu gets qualified audit gulf states utilities co said auditor coopers and lybrand has issued a qualified opinion on financial statements gulf states said the audit opinion satated that without sufficient rate increases or funds from other sources gulf states may be unable to maintain its financial viability which is necessary to permit the realization of its assets and the liquidation of its liabilities in the ordinary course of business it said it received a similar qualified opinion in reuter 
ship	midmississippi river opens today for season the mississippi river is now open for barge traffic up to the twin cities in minnesota after repairs were completed and the first barges moved upstream through lock and dam near quincy ill at cst today an army corps of engineers spokesman said about to inches of ice were reported between locks three and four on the upper mississippi river but other sections were generally free of ice the spokesman said midwestern weather has been so mild that barges probably could have kept loading at mid mississippi river terminals through the winter if lock and dam had not been scheduled for repairs he said the peoria and la grange locks on the illinois river are still scheduled to close july for two months of repairs reuter 
earn	sun electric corp se st qtr jan net shr profit cts vs loss six cts net profit vs loss revs mln vs mln avg shrs vs note net includes tax credits equal to six cts vs one cent in reuter 
crude	ecuador says suspends oil exports due earthquake ecuador today suspended its crude oil exports indefinitely due to an earthquake last night that damaged pumping and crude transport installations an energy and mines ministry statement said it said the state oil firm corporacion estatal petrolera ecuatoriana cepe notified foreign customers that it was declaring force majeure on its crude exports due to the tremor ecuador s opec oil output quota is barrels per day bpd a senior energy ministry official said that one pumping station at el salado on ecuador s main pipeline was damaged he also said an metre section of the pipeline attached to the bridge over the aguarico river collapsed the pumping station was about km from the reventador volcano near the epicentre of the quake which ecuadorean seismologists said registered six on the point international mercalli scale the aguarico bridge was also close to the volcano he said the quake struck northern ecaudor and southern colombia according to ecuadorean officials no injuries were reported reuter 
earn	leaseway transportation corp ltc th qtr loss oper shr loss cts vs profit cts oper net loss vs profit revs mln vs mln year oper shr profit dlrs vs profit dlrs oper net profit mln vs mln revs billion vs billion note net excludes gains from discontinued leasing operations of mln dlrs vs mln dlrs in year and mln dlrs vs mln dlrs in quarter results restated for discontinued operations net both periods includes charge dlrs from elimination of investment tax credits reuter 
earn	nch corp nch rd qtr jan net shr cts vs cts net vs sales mln vs mln nine mths shr dlrs vs dlrs net mln vs mln sales mln vs mln reuter 
earn	nationwide had property casualty loss nationwide mutual insurance co said its property casualty companies had a net loss of mln dlrs last year while its life insurance operations earned mln dlrs nationwide said its property casualty group the fourth largest u s property casualty insurer had a mln dlr loss in nationwide life insurance co earned mln dlrs in with last year s profit including record capital gains of mln dlrs up from gains of mln dlrs the previous year the company said its property casualty group had a record loss from insurance operations last year of mln dlrs after policyholders dividends up pct from s mln dlrs nationwide said a surge in claims from personal auto insurance and the volatile commercial liability coverages during a period of unprecedented sales growth generated the loss the company said over mln dlrs of last year s group losses came from commercial insurance lines and mln dlrs from its personal auto insurance business partially offsetting s record insurance losses nationwide said were record investment gains of mln dlrs and a mln dlr federal tax credit the investment gains were up pct from s gains of mln dlrs reuter 
acq	first women s bank investor group offer expires the investor group owning about pct of the outstanding capital stock of the first women s bank said a cash tender offer for the bank s remaining outstanding shares at dlrs per share expired on march three the investors said about shares or about pct of the outstanding had been tendered reuter 
earn	computer memories inc cmin rd qtr loss period ended december shr loss nine cts vs loss dlrs net loss vs loss revs vs mln nine mths shr loss six cts vs loss dlrs net loss vs loss revs vs mln note current qtr includes tax loss of vs loss of dlrs reuter 
earn	trenwick group inc tren th qtr net oper shr profit cts vs loss four cts oper net profit vs loss revs mln dlrs vs drs mths oper shr profit cts vs loss cts oper net profit vs loss revs mln vs mln dlrs note qtr and year excludes investment gains of and respectively and qtr and year includes investment gains of dlrs and reuter 
earn	bush bsh revises th qtr year results up bush industries inc said that after an audit it has revised upwards its fourth quarter and year end results on february it reported unaudited results under the audited amounts fourth quarter income was mln dlrs or cts a share the unaudited income for the period was or cts per share for the year the audited amounts showed earnings of or dlrs per share the prior results reported income of or dlrs per share sales figures for both periods did not differ significantly from prior amounts reuter 
acq	furniture ufurf ups bench craft sofa stake universal furniture ltd said in a filing with the securities and exchange commission that it had increased its stake in bench craft inc common stock to shares or pct of the total outstanding universal said its universal furniture industries n v unit bought bench craft shares march in the over the counter market reuter 
earn	clevite industries inc clev th qtr oper loss oper net loss vs profit sales mln vs mln year oper net profit vs profit sales mln vs mln note company made initial public offering in june assuming the offering had occurred on jan operating net income per share would have been cts a share for oper net excludes one time charge of mln dlrs or dlrs a share in qtr and year due to the february sale of the company s engine parts division oper net for year also includes profit from discontinued operations of dlrs or five cts a share oper net for excludes extraordinary loss of mln dlrs or cts a share due to the june write off of unamortized debt issue costs from the public offering oper net excludes extraordinary profit of mln dlrs reuter 
earn	cms advertising sets for stock split cms advertising inc said its board has approved a three for two stock split in the form of a dividend payable march to holders of record march the company said a similar split was paid december eight leaving it with shares outstanding cms advertising said the next split will result in a proportionate reduction in the exercise price of its stock purchase warrants to dlrs a share from dlrs reuter 
earn	cie financiere de paribas pari pa year parent company net profit mln francs vs mln dividend five francs vs no comparison note the financial and banking group was privatised by the government in january this year reuter 
earn	correction heineken year in item headlined heineken n v hein as year please read in first line pre tax profit mln guilders vs mln corrects year ago comparison to mln from mln reuter 
interest	bank of england pressure holds base rates this week s bank of england resistance to strong market pressure for lower interest rates succeeded in holding bank base rates at pct but at a cost of threatening the chancellor of the exchequer nigel lawson s policy stated at the end of the paris group of six meeting last month that he wanted to see sterling broadly stable about then prevailing levels market sources said since then the pound has risen to pct on its closing trade weighted index up from pct imediately after the paris meeting and up on the day today s peak at pct was its highest since august a treasury spokesman said lawson had said he neither wanted a substantial rise or fall in sterling the question is therefore how large a rise he is ready to see before acting paul temperton chief economist at merrill lynch europe ltd estimated that the government wanted to see the trade weighted index about pct even after this action over the last few weeks sterling s only just within striking distance of that range he said other analysts agree that the government probably has some broad target range around this area however they said lawson would be prepared to see the pound go higher at least in the short term despite the risk of a loss of export competitiveness and cheaper prices on imports if the bank of england keeps the interest rates as they are what s to stop it going higher said john cox executive director of ebc amro bank ltd a major operator on the london foreign exchange market cox estimates that the bank of england has been active selling sterling over the past few days despite the lack of general market talk of such intervention and this has helped keep it below dlrs the pound rose to dlrs from yesterday and february the day after the paris meeting but cox says the government must be worried with sterling heading toward marks and would be very concerned if it holds around these levels he warned the bank may run the risk of missing the interest rate boat if rates don t come down the market will say they ought to have come down and will sell sterling he said most dealers agree there is a good deal of hot money being invested in sterling money simply attracted by high overnight or one week rates which could flow out at equally short notice however the authorities will hope that at least a proportion of the buying reflects long term investment the last thing they want to do is reduce them rates and have to jack them back up again said richard jeffrey economist at brokerage house hoare govett ltd he said a half point cut would ensure continued support for sterling at least in the near term however most analysts are still looking for a full point about march budget day the bank must hold out until it sees the reaction to the budget said temperton the budget is widely forecast to be a vote winner in the run up to a general election the major factor behind current bullishness in the government bond and currency markets lawson wants to delay a cut in base rates until the budget he wants it to be crowned with the glory of an interest rate cut said ian harwood economist at warburg securities the equities arm of mercury international group speculation a clearing bank might break ranks and lead the way lower were confounded today there was excitement a fall in the weekly treasury bill rate to pct from pct last friday might mean the bank had changed its mind this followed the imposition of penal lending rates of pct on the discount houses yesterday and was the lowest since base rates were at pct early last october however with this bill rate pertaining to three months money banking sources said the market could not take the cut as a guide to the bank s intentions on short term rates reuter 
acq	bancroft bcv shareholders rebuke zico offer bancroft convertible fund inc the target of an unfriendly cash offer by zico investment holdings inc said its shareholders approved proposals requiring a pct affirmative vote of all outstanding shares before fundamental changes in its status could be made previously only a simple majority of outstanding shares was needed to change bancroft s investment status from a diversified to a non diversified fund among other things bancroft said its board continues to recommend that stockholders not tender their shares to zico a british virgin islands company which it said had ties to south africa reuter 
earn	int l totalizator itsi sees better st qtr international totalizator systems inc vice president of finance joel graff said he expects to report an improved first quarter compared to the dlr loss reported in the year ago quarter a profit looks quite favorable graff said last week the automated ticket systems supplier reported a loss of mln dlrs for the graff said we invested heavily in which we believe will result in higher future growth and earnings for the company reuter 
acq	boc group completes sale of unit to controls boc group inc s airco distributor gases finalized the sale of its virginia based gas appaturs business to controls corp of america a newly formed investment group organized by former airco employees under the terms of the sale airco said controls will continue to make the gas apparaturs product line under the airco brand name marketing the products exclusively through the airco s distributor network reuter 
earn	abn says profit rise encouraging in view dollar algemene bank nederland n v abnn as chairman robertus hazelhoff said the bank s pct increase in net profit to mln guilders from mln in was encouraging in view of the sharply lower dollar hazelhoff speaking at a press conference after the release of abn s results said a sharp decrease in foreign earnings had been compensated by a strong domestic performance notably in the securities business he said the bank was also proposing a one for share split which should facilitate trade in the bank s stock news of the split sparked a guilder rise in abn s share price on the amsterdam bourse to a close of guilders prospects for hung on three uncertainties namely the future trend of the dollar the level of interest rates and abn s share of equities trade hazelhoff said provisions for general contingencies were reduced in by pct to mln guilders while taxes increased by pct to mln guilders he added lower global interest rates in had nipped earnings margins via traditional lending activities he said hazelhoff said abn was unlikely to continue reducing risk provisions in the future but he noted the bank was not overly concerned about default by latin american debtors a factor which brokers say has distanced dutch insititutions from bank stocks recently he said that of the bank s estimated financially troubled sovereign debtors about one quarter were latin american countries these would ultimately pay up he said he added that losses incurred through loans to tin producers in the wake of the tin council crisis at end had been written off reuter 
earn	sun electric corp se st qtr jan oper net oper shr profit nine cts vs loss seven cts oper net profit vs loss sales mln vs mln avg shrs vs note oper net excludes extraordinary profit of dlrs or six cts a shr and dlrs or one ct a share respectively in and quarters from utilization of tax loss carryforwards reuter 
earn	cetec corp cec th qtr net oper shr two cts vs eight cts oper net vs sales vs year oper shr cts vs cts oper net vs sales mln vs mln note current qtr and year figures exclude loss from discontinued operations of dlrs or cts per share prior qtr and year figures exclude losses from discontinued operations of mln dlrs or cts per share and mln dlrs or dlrs per share respectively reuter 
earn	richton international corp rihl rd qtr jan shr cts vs cts net vs sales mln vs mln avg shrs vs nine mths shr cts vs cts net vs sales mln vs mln avg shrs vs reuter 
earn	valtek inc valt rd qtr jan net shr cts vs cts net vs revs vs nine mths shr cts vs cts net vs revs mln vs mln reuter 
earn	the writer corp wrtc th qtr loss shr loss cts vs profit cts net loss vs profit revs mln vs mln year shr loss cts vs profit cts net loss vs profit revs mln vs mln reuter 
earn	rocky mountain medical corp rmedu st qtr loss dec shr loss one ct net loss revs note company went public in april reuter 
earn	first american bank and trust fiama year net shr cts vs dlrs net vs mln avg shrs vs note share adjusted for pct stock dividend in may net includes loan loss provisions of mln dlrs vs dlrs reuter 
earn	warrantech corp rd qtr dec net shr profit nil vs loss nil net profit vs loss revs vs nine mths shr loss nil vs loss nil net loss vs loss revs vs reuter 
acq	insituform iglsf raises stake in unit insituform group ltd of guernsey channel islands said it has exercised an option to convert a stg loan to affiliate insituform permaline ltd to common shares raising its stake in the unit to pct from pct the remainder is held by permaline s management and an investment group insituform also said james colclough has resigned from its board for health reasons and secretary scott saltpeter has resigned effective june five reuter 
money-fx	liffe february volumes down but eurodollars up total futures and options turnover on the london international financial futures exchange liffe fell slightly during february although daily average eurodollar volume set a new record liffe said today total futures and options turnover last month was contracts down from january s but sharply above the comparative february figure of lots it said eurodollar turnover during february was lots against january s and the year ago figure of the daily average was a record lots up four pct from the previous record set in march february trading encompassed a new daily record of contracts on the th of the month exceeding the previous record of which had been set on february liffe said ft se index futures volume was sharply higher during february with contracts trading against january s and the year ago level of open interest also set new records last month in eurodollars at contracts in ft se at and in short sterling interest rate futures at lots key futures volumes as detailed by liffe were feb jan feb long gilt eurodollar short sterling t bond ft se currencies short gilt key options volumes as detailed by liffe were feb jan feb long gilt eurodollar t bond sterling ft se total options long gilt t bond and ft se index options were not trading in february reuter 
crude	colombian oil exports not affected by quake colombian oil installations were not damaged by an earthquake which shook ecuador and southern colombia last night and there are no plans to suspend exports a spokesman for the state run oil company ecopetrol said he said no damage was reported unlike in ecuador where indefinite force majeure was declared on crude exports colombia currently produces about barrels per day bpd of crude exports in january totalled bpd the quake which in colombia measured between and seven on the point international mercalli scale caused panic among residents but no injuries were reported reuter 
acq	chicago milwaukee chg greets shearson stake chicago milwaukee corp said it welcomed an investment by shearson lehman brothers inc in its company yesterday shearson lehman a subsidiary of american express co axp disclosed in a securities and exchange commission filing that it holds a pct interest in chicago milwaukee chicago milwaukee s stock edged up to on turnover of shares as one of the biggest gainers on the nyse the stock has been trading in a to range for the last weeks edwin jacobson chicago milwaukee president declined to comment on movement of the company s stock but said from an investment point of view we are pleased to have shearson lehman as a substantial investor shearson lehman purchased the shares for investment purposes and may continue buying shares depending on market conditions according to the filing chicago milwaukee which sold its railroad interests to soo line railroad co soo in february currently manages and sells its real estate which consists of parcels in states reuter 
acq	dauphin deposit dapn to make acquisition dauphin deposit corp said it has signed a letter of intent to acquire colonial bancorp inc of new holland pa in an exchange of to dauphin shares for each colonial share depending on the market value of dauphin shares just before the merger takes place the company said the acquisition is subject to approval by colonial shareholders and regulatory authorities colonial had assets at year end of about mln dlrs reuter 
earn	van dorn co vdc sets quarterly qtly div cts vs cts prior pay may one record april reuter 
earn	m d c holdings inc mdc sets quarterly qtly div cts vs cts prior pay march record march reuter 
earn	chubb corp cb sets quarterly qtly div cts vs cts prior pay april seven record march reuter 
crude	crude oil prices up as stocks output fall u s crude oil prices rose above dlrs a barrel this week and industry analysts said the price could rise another dollar as inventories fall opec is keeping its production down and in the cash market there is tight supply of crude with short transportation time to major refining centers said daniel mckinley oil analyst with smith barney harris upham and co that could send prices cts to a dollar higher he added the u s benchmark crude west texas intermediate rose to dlrs a barrel today a rise of dlrs this week the rally in oil prices this week came after prices fell in february more than two dlrs from its high of dlrs a barrel oil traders were pulling prices down on the assumption that oil stocks were building and opec was producing well above its mln bpd quota but now both of those assumptions have come under question mckinley said yesterday the international energy agency in its monthly report said that oil stocks in the oecd area or in industrialized nations were drawn down by mln bpd during the first quarter of this year iea estimates that the draw in oil stocks during the first quarter of this year will come largely from oil companies whose inventory levels by april one will be an estimated mln tonnes or about days consumption industry analysts also said the estimate of a mln bpd draw in stocks made by shell chairman peter holmes yesterday fed speculation that other major companies were destocking traders said the destocking has come about as a result of a so called buyers strike which kept refiners from buying officially priced opec oil in an effort to get the organization to offer discounts to the official price this struggle between the companies and opec is the ultimate game of chicken but it will be resolved relatively soon i would imagine by about the middle of the month march the general trading manager of an international oil company told reuters in a telephone interview for its part opec has moved to win this game by cutting excess supplies from the market by a reduction of its own output traders said a reuter survey estimates opec output to be mln bpd this week also an earthquake in ecuador yesterday led it to suspend oil exports indefintiely and force majeure its shipments this will reduce short haul availabilities by about bpd almost immediately and the longer the suspension continues the larger the draw in stocks will be for companies expecting it to be there mckinley said international oil traders said that other short haul crudes such as north sea brent were also scarce because asian refiners bought the oil after absorbing a lot of the readily available mideast crudes earlier this week if this pattern continues then oil companies will bid up the price of oil as they purchase for their refineries trading managers at several companies told reuters but there were skeptics who said they wondered how long opec can retain its unity if buyer resistance continues stephen hanke chief economist at friedburg commodity management said opec production was lower because of the saudi cut to mln bpd and this could spell trouble if it gives other members an incentive to exceed their quotas he added the saudis will be picking up the tab for other members who produce over their quota and the drain on the saudis will continue forcing them to cut output maybe as low as mln bpd to support the dlrs average price he added there are also signs of some opec crudes being sold in the spot market at below opec official prices traders said oil traders said nigerian brass river sold for delivery into the u s gulf at a price related to north sea brent which traded this week at dlrs far below the official price of dlrs for the similar quality bonny light iranian oil is also surfacing in the u s gulf and the far east at reported discounts to its dlrs official price there is a lot of oil priced on government to government deals which are below official prices and this is probably being resold one international trader said reuter 
earn	first federal brooksville ffbv sets quarterly qtly div four cts vs four cts prior pay march record march note first federal savings and loan association of brooksville reuter 
earn	aluminum co of america aa regular dividend qtly div cts vs cts in prior qtr payable may record may one reuter 
acq	siemens wants to amend telecom plus tele pact telecom plus international inc said siemens ag s siemens information systems wants to amend its agreement to purchase telecom s pct interest in tel plus communications to delay payment of mln dlrs for months telecom s shareholders are scheduled to vote on the mln dlr transaction monday telecom said it advised siemens it intends to close the transaction on march as scheduled if it is approved by shareholders a spokesman said this means telecom will decide before the th whether or not to accept the proposed change explaining its request for the amendment siemens informed telecom it had recently become aware of information causing concern with respect to certain accounting and other matters siemens said it will therefore need to continue its review beyond march to determine whether certain representations and warranties are true telecom said it advised siemens it knows of no information which would make its representations and warranties untrue siemens already owns the remaining pct of tel plus the pct represenmts telecom s principal operating asset a telecom spokesman said the agreement calls for payment of all but mln dlrs of the price at closing of this mln dlrs was to be paid months later and two mln dlrs per year on the anniversary date of the transaction he said siemens is now proposing that mln dlrs be added to the mln dlrs to be paid in months telecom said the proposed amendment would also permit siemens to defer repayment of up to an additional pct of certain intercompany debt until completion of the review telecom said it estimates this to ba about mln dlrs reuter 
acq	lucky stores says it and investor edelman reached standstill agreement 
earn	international multifoods corp imc dividend qtly div cts vs cts prior pay april record march reuter 
earn	hadson corp hads th qtr net shr profit four cts vs loss cts net profit vs loss mln revs mln vs mln avg shrs mln vs mln year shr profit cts vs profit cts net profit vs profit revs mln vs mln avg shrs mln vs mln note net included gain on sale of foreign properties of mln dlrs or dlrs per share and a writedown of oil and gas properties of mln dlrs or cts per share th qtr net included writedowns of oil and gas properties reuter 
acq	lucky stores lks edelman in standstill pact lucky stores inc said it and investor asher edelman agreed on a settlement that prohibits edelman and his group from taking specified actions to obtain control of the company and that limits the edelman group s ownership of lucky s stock to less than five pct of any voting securities the arrangement also provides for the dismissal of pending litigation between the parties lucky stores said the settlement also calls for the withdrawal of edelman s motion to intervene in pending shareholder actions against lucky stores and its directors the company said in addition the standstill provisions also apply to hancock fabrics after it is spun off to lucky stockholders the company said lucky stores said the arrangement also calls for the company to submit to stockholders at a special meeting set for december a proposal from edelman seeking their views concerning repeal of a charter provision that limits the voting power of substantial lucky stockholders edelman who owns about five pct of lucky stores stock last year was rebuffed in his effort to acquire the company last october lucky stores implimented a restructuring program that included the repurchase of pct of its own common shares and reincorporation in delaware the spinoff of hancock textile co a chain of retail stores was one of the key parts of the restructuring program edelman and his plaza securities co partnership subsequently sued in an attempt to block the proposed reincorporation which was a condition of the repurchase and restructuring plan under this latest arrangement lucky stores said it agreed to reimburse the edelman group for mln dlrs of out of pocket expenses which include litigation and other costs this agreement serves the interests of lucky stockholders by avoiding the significant cost of continued litigation and the accompanying demands on management time lucky stores chairman john lillie said in a statement reuter 
earn	att t phone proposal to help profits american telephone and telegraph co s proposal to deregulate its long distance phone service is unlikely to produce a radical change in phone rates but it should help the company s profits analysts said deregulation will mean more pricing discounts for large volume users but status quo for residential users said painewebber group analyst jack grubman but the proposals will scrap the pricing formula that has constrained the company s profits in the long distance business leading to higher profit margins analysts said att has long pushed for deregulation of its long distance business the profits of which have been limited by a regulated rate of return on the company s investments the rate was cut last year to from pct earlier today the company proposed to the federal communications commission to scrap the formula cut the amount of time needed to approve rate proposals and leave it up to its competitors to oppose it filings mci communications corp mcic made a similar filing yesterday saying greater the moves would increase competition in the telephone business analysts said the proposals will allow att to cut costs in the long distance unit and increase its profit margins previously constrained by the rate of return but many said they did not expect the proposals to lead to higher prices in the industry simply because of the competition the phone industry giant faces you probably wouldn t see as much of a price decline said gartner group analyst fritz ringling but you wouldn t see a rise grubman said the proposals will allow att to selectively raise or lower prices depending on the market it will give att a lot more flexibility he said att now faces a period of comment in which a number of companies will be able to respond to the proposals in fcc hearings it may face at least one strong opponent u s sprint the long distance joint venture between gte corp gte and united telecommunications inc ut we think the congress of the fcc should establish a reasonable rate of return someone should establish it a u s sprint spokesman said but he added the company was not opposed to greater competition it may also take some time for the proposals to go through and in the process they may be altered by the various constituencies affected by the move there s so much complexity so much inertia so much bureacracy that stricly speaking about the mechanisms it won t happen that fast said analyst victor krueger of the gartner group reuter 
acq	twa confirms ownership of pct of usair group 
earn	struthers wells suw sees nov loss struthers wells corp said it expects to report a loss without tax benefit of about mln dlrs for the fiscal year ended november versus a profit of dlrs in fiscal the company added however that about mln dlrs of the loss relates to discontinued operations and disposal of subsidiaries the company said the loss is part of its previously announced restructuring that includes the sale of its foreign and domestic units struthers added that it has filed with the securities and exchange commission for an extension to file its annual report on form k as a result of delays caused by the restructuring reuter 
acq	soros group tells sec it may buy up to pct of fairchild industries 
acq	twa twa confirms ownership of usair u stock trans world airlines inc said it owns more than four mln usair group shares or about pct of the total outstanding twa said it may acquire additional shares in the open market in private transactions through a tender offer or otherwise subject to department of transportation approval twa has offered dlrs per share for usair group usair rejected the offer yesterday calling it a last minute attempt to interfere with its takeover of piedmont aviation inc a twa spokesman said the company has filed an application for approval on its offer to buy usair with the department of transportation and later today it will file a response to usair s motion with the dot to dismiss the twa application twa said it made the statement today on its stock position in usair in response to inquiries traders said they believed twa chairman carl icahn was the buyer of an share block crossed today by salomon brothers usair stock was trading at up on heavy volume of mln shares twa stock fell to while analysts and arbitragers have speculated that icahn may have made the offer for usair in order to trigger the acquisition of his own airline wall street today began to take icahn s effort more seriously i think he s going to be the next frank lorenzo of wall street said one market source lorenzo chairman of texas air has added to his airline with the acquisitions of eastern airlines and people express airlines there was also speculation that icahn would like to buy usair and then sell twa as a merged company reuter 
earn	silver state mining ssmc corrects net silver state mining corp said it has corrected its fourth quarter net income to dlrs from dlrs reported earlier today the company earned dlrs in last year s fourth quarter reuter 
earn	stewart warner corp th qtr shr loss dlrs vs profit cts 
acq	group to boost fairchild industries fen stake an investor group led by new york investor george soros said it was dissatisfied with fairchild industries inc management and was considering boosting its holdings to as much as pct of the aerospace and aviation company s outstanding stock the group already controls fairchild industries shares or pct of the total outstanding the group said it filed on wednesday with federal antitrust regulators for advance clearance to buy enough additional shares to increase its total stake to up to pct of the total outstanding stock the group said its representatives had met with fairchild industries officials to inform them that they do not believe management has been successful in enhancing or protecting shareholder values it said it was considering the additional share purchases to enable it to assert a greater degree of influence over the future management and policies of the issuer it said a decision on the specific level of share ownership it would seek depended on market prices future changes in management policies available financial resources and other factors the group said it also reserved the right to pursue other measures intended to influence fairchild management and policies either alone or in concert with other investors the group includes soros and quantum fund an offshore investment firm headquartered in curacao netherlands antilles that is advised by soros the group said that since its last sec filing made jan it had purchased no additional fairchild shares and had sold shares on the new york stock exchange jan a fairchild industries official later said soros had told the company he was not dissatisfied with its management contrary to the filing mr soros has told the company today that he is not dissatisfied with management fairchild s bill fulwider told reuters however fulwider said the company would have nothing to say at this time about soros disclosure that he may buy up enough additional fairchild shares to hold as much as pct of the company s outstanding stock reuter 
earn	payless cashways pci sees better first qtr payless cashways inc chairman david stanley told analysts the company s first quarter results to be reported march will be better than the seven cts per share reported in the year ago quarter it was not a wonderful sales quarter but it only represents pct of the year s total results stanley said stanley also said that full year sales will be in excess of billion dlrs as compared to the billion dlrs reported in he also said that analysts estimates of dlr per shr for are not crazy payless reported net income of dlr per share in the economy may not get a lot better but we expect our advantages in the lumber industry and cost cutting measures to keep us competitive larry kunz chief financial officer said the company acquired knox lumber co for about mln dlrs in october stanley said the company s stronger than optimal balance sheet will enable it to make further acquisitions but no negotiations are going on at the current time he said some benefits of a new management information system will be felt in and more substantially in reuter m 
earn	stewart warner corp stx th qtr loss shr loss dlrs vs profit cts net loss vs profit sales mln vs mln year shr loss dlrs vs profit dlrs net loss vs profit sales mln vs mln note earnings include a provision for restructuring costs of dlrs or dlrs a share pre tax and the effect of adoption of fasb which reduced pension expense by dlrs for the quarter and dlrs for the year before taxes earnings include nonoperating income from the effect of nonrecurring gains of dlrs in the st qtr of from the sale of its minority interest in plexus corp and dlrs in the rd qtr of related to the sale of excess property reuter 
earn	moniterm corp mtrm th qtr loss shr loss cts vs loss cts net loss vs loss revs vs year shr loss cts vs loss cts net loss vs loss revs mln vs mln note prior year figures restated to reflect merger in march with amtron corp reuter 
earn	the chubb corp cb sets qtrly payout qtrly cts vs cts prior pay april record march reuter 
acq	southtrust sotr to acquire four banks southtrust corp a billion dlr multibank holding company said it entered into agreements to acquire four florida banks with assets totalling more than mln dlrs terms of the agreements were not disclosed the four banks are central bank of volusia county with assets of mln dlrs bank of pensacola with assets of mln dlrs and vista bank which operates vista bank of volusia county with assets of mln dlrs and vista bank of marion county with assets of mln dlrs it said the agreements are subject to regulatory approval reuter 
acq	carling o keefe sells star oil unit to united coal canada for mln dlrs 
acq	hughes tool ht up on merger speculation hughes tool co rose one to on shares apparently reflecting a belief that baker international corp bko will be able to persaude hughes to go along with a previously announced merger analysts said this week hughes seemed to back out of the merger but then said it was still interested in talking it sounds like baker wants it and if people are convinced a deal is going to go through the stock goes up said analyst phil pace of kidder peabody and co holders of hughes would get share of baker for each hughes share reuter 
acq	aetna aet reaches agreement to buy company aetna life and casualty co said it reached an agreement to acquire a pct interest in universal life and general insurance sdn bhd ulg a malaysian composite insurance company the company said the pct balance will continue to be owned by malaysia apera group of private investors the transaction is valued at approximately mln dlrs and is expected to be completed by march reuter 
acq	carling o keefe ckb sells oil unit takes gain carling o keefe ltd said it sold its star oil and gas ltd unit to united coal canada ltd for about mln dlrs cash carling said it will record an extraordinary gain of about two mln dlrs after tax or nine cts a common share resulting from the sale the company did not elaborate further on financial terms a carling official later said in reply to an inquiry that carling would record the extraordinary gain in its fourth quarter ending march the move came after carling s pct owner rothmans inc agreed last week to sell its carling stake to elders ixl ltd of australia for mln canadian dlrs reuter 
ship	channel ferry reported sinking off belgium the channel ferry herald of free enterprise from the british townsend thorensen company was sinking off the belgian coast tonight with people on board the dutch newsagency anp reported today an unspecified number of people had fallen into the water it said quoting the pilot organisation in this south western dutch port city near the belgian border it said the vessel had capsized after a collision but gave no more details dan kaakebeen a spokesman for the dutch salvage firm smit international told reuters by telephone from rotterdam that the vessel was just off the belgian port of zeebrugge with passengers and crew when the accident occurred at gmt kaakebeen said the firm had one vessel at the scene and another on its way with divers on board a spokesman at the port authority of nearby vlissingen said attempts were being made to pull the vessel into shallow waters weather conditions were good with no fog or wind and there were many other vessels in the area reuter 
earn	patrick petroleum co ppc year loss shr loss dlrs vs profit cts net loss vs profit revs vs mln avg shrs vs note current year includes tax credit of dlrs reuter 
earn	epitope inc epto st qtr dec loss shr loss cts vs loss nine cts net loss vs loss sales vs reuter 
earn	clary corp th qtr dec loss shr loss cts vs loss cts net loss vs revs vs year shr loss cts vs loss nine cts net loss vs loss revs mln vs mln reuter 
earn	lloyds bank canada st qtr profit rises sharply lloyds bank canada a unit of lloyds bank international plc said net profit soared to dlrs for the first quarter ended january from dlrs a year earlier loan loss provisions a mandatory five year averaging of actual loan losses also rose in the first quarter to dlrs from year ago dlrs the bank said lloyds bank canada became canada s largest foreign bank last autumn with its mln canadian dlr acquisition of continental bank of canada reuter 
acq	dome pete dmp said to be pressed to sell encor dome petroleum ltd is under pressure from one of its largest creditors canadian imperial bank of commerce to sell its pct stake in encor energy corp ltd energy industry analysts said dome has pledged its mln encor shares as security for part of its debt to commerce bank estimated last year at mln canadian dlrs and the bank wants dome to sell the stock to pay down debt analysts said the commerce has been slowly but surely moving encor in the direction that might make it a saleable asset said one analyst who asked not to be named dome earlier said it was not considering selling encor energy but reaffirmed the company s pct interest in canadian gold producer dome mines ltd dm is up for sale at the right price dome now negotiating a plan to restructure more than billion dlrs in debt sees encor as a strategic investment that it does not intend to sell spokesman david annesley said the encor shares do not pay dividends a commerce bank spokesman also declined comment when asked whether it is pressing dome to sell its encor stake at current market prices dome s stake in encor would be valued at about mln dlrs while its mln dome mines shares would be worth about mln dlrs recent strength in the price of encor shares may also prompt commerce bank to press dome to divest its holding in the canadian oil and gas producer analysts said encor s stock price has improved quite substantially in recent weeks with a runup in crude prices peters and co ltd oil analyst wilf gobert commented the possibility is that commerce bank would like to see it sold at these levels because they can get more for it now than they have been able to in recent years he added encor traded earlier on the toronto stock exchange at near its week high of and up from around six dlrs in early february the company also recently set up its own operating management which was previously carried out by dome petroleum maison placements canada inc analyst denis mote commented dome and encor are actually going to get farther apart so the sale does make a lot of sense mote said however analysts said dome will resist any moves to divest encor in favor of retaining the operating assets since sale proceeds would likely go directly to pay down dome s debt to commerce bank i think they ll probably try to hang onto encor as long as they can said bache securities inc analyst doug weber some of dome s group of major creditors might move to block such a sale arguing they have a claim on company assets other creditors generally all want to make sure that something they might be able to get a piece of is not being sold out from under them said analyst gobert another stumbling block would be encor s mln dlr joint liability in loans to dome petroleum advanced by arctic petroleum corp of japan for beaufort sea exploration analysts said a similar hurdle could also hinder the possible sale of dome petroleum s interest in dome mines dome mines has guaranteed mln dlrs of dome petroleum s debt and has a right of consent to the sale of dome petroleum s holding presumably a potential buyer of the dome mines shares would seek some type of relief on the company s debt obligations connected with dome petroleum gobert said dome spokesman annesley earlier declined to specify at what price the company would consider selling its dome mines shares but said current prices of more than dlrs a share are very attractive reuter 
earn	patrick petroleum co ppc th qtr net shr nil vs one ct net vs revs vs avg shrs vs year shr loss dlrs vs profit cts net loss vs profit revs vs avg shrs vs reuter 
earn	inland vacuum industries inc ivac st qtr net qtr ends jan shr six cts vs eight cts net dlrs vs dlrs revs vs reuter 
crude	iranian oil minister arrives in algeria iranian oil minister gholamreza aqazadeh arrived in algiers at the head of a large delegation for talks on stabilizing oil prices the official news agency aps said in a brief arrival statement he said iran and algeria were engaged in continuous and stronger cooperation on the world petroleum market and had deployed considerable efforts to stablise petroleum prices he was greeted on arrival by belkacem nabi the algerian minister of energy chemical and petro chemical industries reuter 
earn	del laboratories inc dli th qtr net shr cts vs cts net vs revs mln vs mln year shr dlrs vs dlrs net vs revs mln vs mln note per share figures adjusted to reflect four for three stock split paid march reuter 
acq	landmark savings lsa completes office sale landmark savings association said it completed the sale of its whitehall pa office including deposits of about mln dlrs to parkvale savings association landmark said it realized a gain of about mln dlrs on the sale the price was not disclosed reuter 
earn	holly sugar corp hly sets regular dividend qtly div cts vs cts prior pay march record march reuter 
earn	coradian corp cdin year net shr profit one cent vs loss cts net profit dlrs vs loss revs mln vs mln note company said net is before extraordinary items and taxes and declined to provide data on those items reuter 
ship	two hundred people rescued from sinking ferry about people were rescued some badly hurt from a sinking cross channel ferry carrying approximately people off the belgian port of zeebrugge a port control spokesman said the spokesman contacted by telephone said only one third of car ferry the herald of free enterprise owned by the british company townsend thoresen remained above water divers have been sent down to try to rescue passengers believed trapped in the ferry which was on its way from zeebrugge to the english port of dover and capsized just off the pier he added reuter 
earn	foxboro co fox th qtr loss oper shr loss one ct vs loss dlrs oper net loss vs loss mln revs mln vs mln mths oper shr profit cts vs loss dlrs oper net profit vs loss mln revs mln vs mln note oper net excludes tax credits of dlrs for qtr and dlrs for mths includes restructuring charges of mln dlrs for qtr mln dlrs for mths reuter 
trade	nicaragua romania paraguay lose trade rights president reagan formally ended preferential duty free trade treatment for exports from nicaragua romania and paraguay under the generalized system of preferences gsp he took the action after determining that the three countries are not taking steps to give their workers internationally recognized rights u s trade representative clayton yeutter had announced the intended action on january the united states conducts no trade with nicaragua and very little trade with romania and paraguay reuter 
earn	alfin inc afn nd qtr jan loss shr loss cts vs profit cts net loss vs profit revs vs avg shrs vs six mths shr loss cts vs profit cts net loss vs profit revs mln vs mln avg shrs vs reuter 
acq	bell and howell bhw completes sale of unit bell and howell co said it completed the sale of its computer output microfilm business to com products inc a unit of privately held lebow industries inc the sum of the deal was not disclosed the unit makes a device that prints data directly from a computer onto microfilm reuter 
earn	hyponex corp hypx year net shr cts vs dlrs net vs revs mln vs mln reuter 
earn	hmo america inc hmoa year loss shr loss cts vs profit cts net loss vs profit revs mln vs mln avg shrs vs reuter 
acq	dtd enterprises inc in reorganization dtd enterprises inc said it filed an k report indicating that eagleslair development corp had assumed control of the company under a reorganization plan signed last month the company said d gerald lach president of eagleslair was named president and a director of dtd in addition dts s board resigned and eagleslair appointed new directors the company said reuter 
earn	schwab safe co ss ups payout qtly div cts vs cts prior pay april record march reuter 
earn	physicians insurance co pico th qtr net shr cts vs cts net dlrs vs dlrs revs mln dlrs vs mln dlrs avg shrs vs mths shr dlrs vs cts net dlrs vs dlrs revs mln dlrs vs mln dlrs avg shrs vs note per share amounts for qtr and year prior have been restated to reflect a six for five stock split in august revs for qtr include capital gains of vs and for year of vs revs for qtr include non insurance revenues of vs and for year of vs revs for qtr include life subsidiary account deposits of vs and for year of vs reuter 
earn	bradley brly announces long term lease bradley real estate trust said it signed a year lease for property in downtown minneapolis to bced minnesota inc the lease will increase net income by about cts a share on a post february three for two stock split basis for the trust reported net income of mln dlrs or cts a share on a post split basis bradley will also be entitled to a one time additional rental payment of cts a share upon bced entering into a space lease with a prime national tenant and a share in a portion of net cash flow from operations on the property reuter 
acq	dumez unit has pct of westburne wbi dumez investments i inc said pct of westburne international industries ltd s outstanding common shares have been deposited under its takeover bid it said it has received about shares under its dlrs per share offer which expired yesterday dumez said it will proceed to acquire the remaining common shares to give it pct ownership of westburne dumez is a private company owned jointly by dumez s a and unicorp canada corp reuter 
acq	canadian natural resources to sell stake canadian natural resources ltd said it agreed in principle to sell pct of its working interest in certain producing and non producing natural gas properties located in southwestern saskatchewan the transaction is expected to close on april the company said it did not identify the buyer nor give the selling price proceeds will be used to satisfy a february repayment demand by one of the company s lenders any excess proceeds will be added to working capital the company said reuter 
acq	malrite buys cox s radio station unit malrite guaranteed broadcast partners l p said it bought wtrk inc from cox enterprises inc for mln dlrs in cash it said wtrk owns and operates wtrk fm a philadelphia radio station transfer of the license for the sation has been approved by the federal communications commission malrite guaranteed said it is a limited partnerhip formed to acquire and operate radio and tv stations it said malrite communications group inc malr is the general partner reuter 
acq	cyacq extends tender for cyclops cyl cyacq corp said it extended its dlr a share tender offer for cyclops corp to march from today cyacq was formed by citicorp capital investors ltd and audio video affiliates inc ava to acquire cyclops the tender offer began on february six the offer is conditioned upon at least pct of the outstanding shares and at least pct of the voting securities being tendered before expiration of the offer as of march six only shares of cyclops mln outstanding shares had been tendered reuter 
acq	mono gold says partnership agrees to buy shares mono gold mines inc said nim and co ltd partnership agreed to buy flow through shares with an aggregate purchase price of up to dlrs it said subject to fulfillment of certain conditions the price of the shares to nim will be cts per share and said it will issue shares to the partnership mono also said options to buy up to dlrs of its capital stock at cts per share expire march three it said options have been exercised to net the company dlrs to be added to working capital reuter 
earn	uslico corp usvc increases dividend qtly div cts vs cts prior payable march record march reuter 
acq	usair group requests transportation department order twa to divest stake 
earn	diplomat electronics dpec to cut costs diplomat electronics corp said it will reduce expenses by four mln dlrs a year in an effort to stem losses and return to a positive net worth the company also said certain lenders agreed to take a pct stake in the company by converting seven mln dlrs of debt into preferred stock diplomat said it will cut costs by several means including dismissal of workers at its corporate headquarters consolidation of its warehousing and shipping operations and reduction of management salaries moreover it said it will relocate its headquarters to glendale calif reuter 
earn	dollar general corp dolr qtly dividend qtly div five cts vs five cts prior payable april three reocrd march reuter 
earn	healthcare services hsai sees write offs healthcare services of america inc said it will write off about mln dlrs in non recurring expenses in it also said it expects income from operations to be about breakeven for and the estimated loss for the year to be about the same as the writeoffs results will be released by march included in the writeoffs were six mln dlrs in developmental costs six mln dlrs in unamortized loan costs and debt discounts and four mln dlrs in other non recurring costs the company said it continues to be in default of certain financial and non financial covenants set forth in its major loan documents it said negotiations continue with the banks but has no assurance that such funding will continue it said it authorized smith barney harris upham and co to seek a business combination with third parties healthcare also said the board has authorized the sale or lease of certain assets to reduce the cash required from the revolving credit line for completion of current construction projects for the year ended december healthcare reported net income of mln dlrs on sales of mln dlrs reuter 
acq	usair u seeks order against twa twa usair group said it sought the help of the u s department of transportation in its takeover fight with trans world airlines inc asking the department to order twa to sell its usair shares what they have done is in direct violation of the federal aviation act usair said it said twa week filed a cursory application with the department of transportation for approval of its proposed billion dlr takeover of usair usair rejected the offer and said it asked the department of transportation to dismiss the application usair said it requested the dismissal because twa avoided pre merger notification requirements and also did not provide a competitive and public interest analysis required under regulations usair said if the application is dismissed twa would be limited to buying only pct of its mln outstanding shares if the application is approved twa could buy up to pct it said twa has said it owns less than pct of usair s stock twa today revealed that it has increased its holdings to more than four mln usair shares pct of the outstanding twa vice president general counsel mark buckstein said the company had made appropriate filings with the dot and was in compliance with the law reuter 
earn	park ohio industries inc pkoh th qtr net shr loss cts vs profit dlr net loss vs profit revs mln vs mln year shr loss dlr vs profit dlr net loss vs profit revs mln vs mln note net includes certain non recurring charges of about dlrs for a number of items th qtr and yr net includes extraordinary credit of dlrs or cts per share reuter 
earn	bmc industries inc bmc th qtr loss shr loss dlrs vs loss dlrs net loss vs loss mln revs mln vs not given year shr loss dlrs vs loss dlrs net loss vs loss mln revs mln vs not given note results include charges of five mln dlrs or cts shr for qtr and year compared with charge of mln dlrs or dlrs shr in prior year from discontinued operations and disposal of discontinued operations reuter 
earn	united companies uncf declares stock dividend united companies financial corp said its board declared a two pct stock dividend payable april eight to holders of record march the board also declared a regular quarterly cash dividend of cts payable april one to holders of record march reuter 
acq	taft tfb bidders would sell entertainment unit a proposed buyout of taft broadcasting co by dudley taft and other investors includes a plan to sell the company s entertainment group according to one of the investors jonathan nelson managing director of narragansett capital corp narr which is participating in the buyout plan declined to say if buyers have already been lined up for the entertainment group we are considering selling the group nelson said wall street analysts said any of the hollywood film studios which might be interested taft broadcasting co did not comment on the dlr per share offer taft has mln shares outstanding of which pct are owned by the taft and ingalls families dudley taft relinquished the title of president in july but continues as vice chairman of the company taft narragansett requsted a response to its proposal by march if the plan is accepted taft would be a private company financed by high yield bonds and bank debt nelson said narragansett is an investment management company specializing in leveraged buyout transactions taft shares climbed to causing arbitrageurs to say investors believe the bidders may raise their price robert m bass who controls pct of the stock and american financial corp holder of pct did not return telephohe calls seeking comment but dennis mcalpine analyst at oppenheimer and co said i don t think it s worth dlrs he noted taft recently agreed to sell a group of independent television stations at a loss he said the entertainment group which includes the hanna barbara animation studios is currently hampered by a glut of animated product taft broadcasting has never commented on reports that its major stockholders met recently to discuss a break up of the company macalpine said there are lots of options for reshaping the company with a distribution of various pieces to the major shareholders among the possibilities analyst alan gottesman of l f rothschild unterberg towbin inc said the bass group has been increasing its stake in the belief the company would be worth more with a change in its strategy he said bass pushed for sale of the independent television stations because the company paid too much reuter 
acq	sandox buys stauffer seeds sandoz corp s northrup king co said it bought stauffer seeds a unit of stauffer chemical co terms were not disclosed reuter 
acq	energen egn buys municipal gas system energen corp said it has acquired the distribution system of the city of clanton ala for about mln dlrs the customer system is the fourth municipal system acquired by energen s alabama gas subsidiary since october adding a total of customers reuter 
earn	sierra pacific resources inc srp dividend qtly div cts vs cts prior payable may one record april reuter 
earn	metex corp mtx th qtr dec shr cts vs cts net vs revs mln vs mln year shr cts vs dlrs net mln vs mln revs mln vs mln reuter 
earn	houston oil trust ho omits march distribution houston oil trust said there will be no cash distribution to the unit holders in march the most significant factor for the lack of a distribution this month is the establishment of additional special cost escrow accounts the company said adding that there may be no cash distribution in other months or during the remainder of the year for march the working interest owner will place mln dlrs in special cost escrow accounts reuter 
acq	monoclonal antibodies mabs buys company monoclonal antibodies inc said it signed an agreement in principle to buy genesis labs inc for about mln dlrs of common stock the agreement is subject to shareholders approval and other conditions reuter 
earn	braniff inc bair th qtr loss jan shr loss cts vs loss cts net loss mln vs loss mln revs mln vs mln year shr loss cts vs profit dlr net loss mln vs profit mln revs mln vs mln note net includes extraordinary gain of mln dlrs from tax loss carryforward in year and loss of dlrs in th qtr reuter 
acq	justice dept supports dismissal of twa application for usair control 
acq	transportation department dismisses twa application for usair control 
ship	reported dead in ferry disaster at least people died when a car ferry struck a pier as it left belgium for britain a nurse who took part in the rescue operation said jan van moerbeke a male nurse said on coming off the herald of free enterprise that he had found six people on top of the vessel who were dead there were at least another dead inside the boat he added the governor of west flanders province said people were still unaccounted for reuter 
acq	continental federal conf holder to sell stake continental federal savings and loan association said it was told that an estate holding pct of its stock plans to sell its stake at a premium over the current stock price continental said the estate of harold vernon and certain parties have signed a letter of intent to sell the stock for dlrs a share for a total of about dlrs continental s stock closed at seven in over the counter trading the thrift said the buyer is bac inc a corporation acting for certain unindentified parties reuter 
acq	broker s choice to buy rubbertech broker s choice capital inc said it signed a letter of intent to buy rubbertech inc if approved by shareholders broker s choice will issue about mln shares of authorized but unissued shares of restricted common stock to rubbertech inc reuter 
acq	dot dismisses twa twa usair u application the u s department of transportation dot said it dismissed on technical grounds an application by trans world airlines inc for dot approval for it to take control of usair group the dot added however that twa was free to refile when it could put together an application for control that met the agency s procedural requirements the dot acted shortly after the u s department of justice disclosed that it supported dismissal of the twa application it was not immediately clear what impact the denial would have on twa s bid to take over usair in its control application twa had acknowledged that additional documentation was required to meet dot rules and said it would file more material on the morning of march but the dot said it would not wait we have determined to dismiss twa s application for approval of the acquisition of usair it said in an order issued late friday twa s application clearly fails to comply with the filing requirements of our regulations and twa has provided no reason why we should accept such a deficient filing it added accordingly we will dismiss the application twa of course may refile it when it is able to comply with our procedural rules the dot said the agency added that it would continue to consider a separate twa request for federal clearance to purchase usair stock through a voting trust usair had said earlier today that it asked the dot to dismiss the twa control application on grounds the twa filing did not meet dot requirements reuter 
acq	twa twa to refile with u s agency transworld airlines inc plans to refile an application monday with the department of transportation for approval to acquire usair group u the dot late today dismissed twa s application to acquire usair when the dot opens for business on monday morning we will be refiling a perfected and completed section application said twa general counsel mark buckstein buckstein said the dot ruled the application which was filed wednesday was incomplete he said he did not yet know why the agency objected reuter 
acq	justice asks u s dismissal of twa twa filing the justice department told the transportation department it supported a request by usair group that the dot dismiss an application by trans world airlines inc for approval to take control of usair our rationale is that we reviewed the application for control filed by twa with the dot and ascertained that it did not contain sufficient information upon which to base a competitive review james weiss an official in justice s antitrust division told reuters reuter 
interest	hong kong banks leave interest rates unchanged the hong kong association of banks said it decided to leave interest rates unchanged at today s regular weekly meeting current rates are pct for savings accounts hours seven day call one week and two weeks one month is pct two months pct three and six months are both three pct nine months pct and months pct prime rate is six pct reuter 
acq	savings acuisition in california announced the federal home loan bank board fhlbb announced the acquisiton of south bay savings loan association in gardena calif by standard pacific savings of costa mesa calif the fhlbb said south bay had assets of mln dlrs and standard pacific had mln dlrs in assets it was the fourth federally assisted merger or acquisition of a troubled savings institution this year the fhlbb said reuter 
ship	two hundred feared dead in ferry disaster about people are feared dead after a british cross channel ferry rolled on its side off the belgian coast last night but almost passengers were plucked to safety from the ice cold sea belgian transport minister herman de croo told reporters i fear the dead could be in hundreds perhaps given the state of the water i fear there is no hope townsend thorensen owners of the tonne herald of free enterprise said the ferry was carrying people and that had been rescued all but one were british reuter 
acq	malaysia bails out another commercial bank malaysia s central bank said it acquired a pct stake in ailing united asian bank bhd uab the sixth largest commercial bank in the country to rebuild public confidence in it uab called for a rights issue last november to raise mln ringgit to rectify its capital deficiency following an accumulated loss of mln ringgit at end the central bank bank negara said in a statement but only mln ringgit in shares was taken up by shareholders mainly local indian and malay businessmen and the indian government bank negara said it subsequently took up the unsubscribed shares totalling mln of uab s new paid up capital of mln ringgit it said the shares held in trust will be eventually sold the central bank early this week also announced that it had bought pct stake in another troubled commercial bank perwira habib bank malaysia bhd after the latter raised its capital to mln ringgit from in mid january this year bank negara said it does not intend to hold on to the shares of the two banks the injection of capital in phb and in uab including the recamp of management in these banks are some of the measures taken by the bank to strengthen public confidence in the stability of the these banks it added the central bank said it is invoking section a of the banking amendemnt act empowering it to grant loans to an ailing bank or to buy a stake in it reuter 
ship	ferry disaster may rank among worst tragedies fading hope for passengers trapped aboard a partially sunk channel ferry raised fears the accident could rank among this centuries worst peacetime shipping tragedies belgian transport minister herman de croo said there was no hope of rescuing any of about passengers trapped in the herald of free enterprise after it capsized off the belgian coast last night if confirmed the toll would make the incident the world s worst since a soviet liner the admiral nakhimov collided with a freighter in the black sea last september and sank with the loss of nearly lives a further people were rescued the world s deadliest single peacetime incident at sea was the sinking in of the titanic with a loss of lives the second biggest loss of life in peacetime was in when people drowned when the liner empress of ireland collided with a freighter on the st lawrence river in canada the world s worst maritime disaster was in wartime that took lives when the german liner wilhelm gustloff was torpedoed by a soviet submarine in january in more than were feared dead after two ferries sank near dhaka drowned when a ferry capsized in china and died when a launch sank off the malaysian state of sabah reuter 
ship	almost dead in ferry disaster there are no more survivors from a british cross channel ferry disaster off the belgian coast and almost people seem certain to have perished a senior belgian official said jacques thas in charge of rescue for the herald of free enterprise said his men had searched all of the ship except some inaccessible cabins and the control room i am afraid there are no more survivors he said thas said of the passsengers and crew were confirmed dead and were missing bringing the total of dead or presumed dead to reuter 
earn	sime darby bhd six months to december shr cents vs cents interim dividend three cents vs same group net mln ringgit vs mln pre tax mln vs mln turnover billion vs billion note dividend pay may register april reuter 
earn	consolidated plantations bhd six months to december shr cents vs cents interim dividend four cents vs same group net mln ringgit vs mln pre tax mln vs mln turnover mln vs mln note dividend pay april register april reuter 
earn	tractors malaysia holdings bhd six months to december shr cts vs ct interim dividend cts vs nil group net mln ringgit vs mln pre tax mln vs mln turnover mln vs mln note dividend pay may register april reuter 
earn	dunlop malaysian industries bhd six months to december shr cts vs cts interim dividend one cent vs same group net mln ringgit vs mln pre tax mln vs nine mln turnover mln vs mln note dividend pay april register april reuter 
ship	experts had expressed fears over ro ro safety as a british government investigation got under way into the sinking of the car ferry herald of free enterprise with heavy loss of life experts said doubts had already been expressed about the roll on roll off type of ship shipping minister lord brabazon said a preliminary investigation had started into why the tonne ferry capsized and sank in little over a minute as it manoeuvred to leave zeebrugge on a routine four hour crossing to dover initial reports spoke of water flooding the car decks through the bow doors but a spokesman for the owners townsend thoresen said it was also possible the ferry had been holed townsend thoresen operate two other ships identical to the herald of free enterprise but brabazon said it was not planned to pull them out of service at present our investigator is there already we shall have to wait and see but it is too early to say what happened he told bbc radio as the work of retrieving bodies from the half submerged hulk continued maritime safety experts in london said doubts had already been expressed about the design of so called roro ferries such as the herald of free enterprise in the inter governmental international maritime consultative committee issued a report saying more roll on roll off vessels were lost in accidents than ships with deck areas divided by bulkheads townsend thoresen say the ship built at the west german yard of bremerhaven in was built to the highest safety standards but salvage expert william cooper said passengers would have had problems getting off this type of ship because of its design former townsend thoresen navigating officer clive langley said the roro type of vessels were similar in some respects to a barge as any sailor knows it only takes two or three inches out of line and you can turn a barge over an ordinary ship is compartmentalised and you have more stability he said cooper said cross channel ferries were normally perfectly stable but had huge wide deck areas above the water level if you do get water into that area then you can get very severe effects on the stability of the ship he added reuter 
crude	iraq turkey oil pipeline cut by landslide turkey oil pipeline near the southern town of adana after it was cut by a landslide the hurriyet and anatolian news agencies said little oil was lost in the landslide friday night because taps on the one mln bpd line were switched off after the accident they said the pipeline which carries oil for turkey and other customers from iraq s kirkuk field to the yumurtalik terminal on the turkish mediterranean coast is iraq s main oil outlet reuter 
ship	brazil seamen continue strike after court decision hundreds of marines were on alert at key brazilian ports after seamen decided to remain on indefinite strike even after the higher labour court yesterday ruled it illegal union leaders said the halt the first national strike by seamen in years started on february and union leaders said they would not return to work unless they got a pct pay rise shipowners have offered a per cent raise which the seamen rejected we have nothing to lose if they want to lay off the workers fine but we are determined to carry on with our protest until the end a union leader said he said they had decided in a meeting that if the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation by themselves a spokesman for the rio de janeiro port said the order to send marines to take over the ports was given by navy minister henrique saboya on grounds that ports are areas of national security but he said there were no incidents the strike has cut exports and imports and made an estimated ships idle petrol station owners in four states also continued their shutdown and there were fears that the combination of the two stoppages could lead to a serious fuel shortage reuter 
crude	ecuador to export no oil for four months official the suspension of ecuador s crude oil shipments after an earthquake cut an oil pipeline will last at least four months a senior energy ministry official said the official said ecuador could resume exports after repairing a km section of the km pipeline which links jungle oil fields at lago agrio to balao on the pacific coast it would take about mln u s dlrs to repair the pipeline the official who did not want to be named told reuters ecuador had enough oil to meet domestic demand for about days and would have to import crude to supplement stocks the earthquake last thursday night registered six on the point international mercalli scale the damage to the pipeline was a severe economic blow to ecuador where oil accounts for up to two thirds of total exports and as much as pct of government revenues financially pressed ecuador a member of the organisation of petroleum exporting countries opec was recently pumping about barrels per day bpd of crude about bpd above the output quota assigned by the cartel another energy ministry spokesman said last year it exported an average of bpd according to the central bank however ecuador might build an emergency km pipeline costing to mln dlrs to hook up with a colombian pipeline the first official said he estimated it could take about days to build ecuador squeezed by the slide in world oil prices in had only mln dlrs in net international reserves at the end of january about equal to one month s imports it suspended interest payments in january on billion dlrs owed to about private foreign banks the country s total foreign debt is billion dlrs the eighth largest in latin america in caracas president jaime lusinchi said venezuela would loan five mln barrels of crude to ecuador over the next three months to make up for losses from damage to the pipeline ecuador asked for the loan to guarantee domestic supplies and would ship an equivalent volume back to venezuela in repayment in may lusinchi said a commission headed by venezuelan investment fund minister hector hurtado and including representatives from the interior and defence ministries and the state oil company petroleos de venezuela will travel to ecuador tuesday to evaluate and co ordinate an emergency relief program he said reuter 
interest	german government needs seen raising bond yields increased federal government borrowing needs and a growing unwillingness by foreign investors to buy mark assets could push yields in german public authority bonds higher this year bond market sources say at the moment we have a sideways movement in the short term rates but how rates move in the long end will depend strongly on foreigners one portfolio manager for a large securities investment house in frankfurt said the sources also said the government had already stepped up its borrowing programme in anticipation on increased needs friday s loan stock was the third this year already the sources noted it carried a year maturity a coupon of six pct and price of to yield pct at issue this compared with the last issue which had a pct coupon priced at pct for a yield of pct but dealers said the terms were not enough to attract foreign investors and the federal government would have to push yields higher in future if it wanted to borrow again soon sources noted federal government issues had also increased in size with the introduction of a four billion mark volume only starting last may one finance ministry economist said it isn t more it s just the size of each bond which has increased he added conditions in the capital market currently remained fairly favourable for raising new debt until recently federal issues sold very strongly abroad with up to pct of some being placed with foreign investors with the recent stabilisation of the u s dollar however foreign investors have begun to back away from the market as hopes of further currency gains in marks diminish sources said the government has may have already stepped up its borrowing having raised more than billion marks the government made net borrowings of billion marks in but bundesbank statistics showed that net borrowing through bonds was billion the sources said this indicated a move by the government out of other types of debt to gain access to foreign funds through the more acceptable loan stock form although new credit needs were partly inflated by a large amount of issues maturing recently other factors including the government s tax reduction program would also reduce income next year the problem here will be the tax reform the portfolio manager said he added that the government s cut in its top income tax rate to pct from pct in would make it difficult for the government to reduce borrowings the sources said the government would fall far short of covering all of its billion marks in lost revenue from the tax reform by making expenditure cuts and would be forced to fall back on debt markets in one form or the other the portfolio manager noted that besides the three federal government loan stocks so far this year it has also fallen back twice to raise a total billion marks through the issue of fixed rate medium term kassenobligation notes a finance ministry economist said the government did not expect to have any trouble keeping to its plan to borrow only a net billion marks this year though many sources agreed they added that the trend would probably not continue next year as the further tax cuts come into effect i would expect the efforts for a further tax reform would mean government borrowing will increase the manager said bond prices last week were slightly firmer on balance with the bundesbank s public authority bond yield calculation falling to pct on friday from a week earlier but sources said foreign demand for the new federal government loan stock was slack as sentiment grows that the dollar may now rise against the mark the demand wasn t so good a dealer for a german bank in london said the dollar s recent slight appreciation against the mark even meant that foreign investors have sold mark bonds recently some dealers said reuter 
trade	bangladesh trade deficit narrows in october the bangladesh trade deficit narrowed to billion taka in october from billion in september and billion in october the central bank said imports dropped to billion taka in october from billion in september and billion in october exports totalled billion taka in october as against billion in september and billion in october reuter 
money-fx	asian dollar assets exceed billion dlrs the asian dollar market continued to expand in december with total assets and liabilities rising to billion u s dlrs from billion in november and billion in december the monetary authority of singapore said it said the increase came mainly from interbank activity with interbank lending rising to billion dlrs in december from billion in november and billion in december interbank deposits increased to billion dlrs against billion and billion respectively loans to non bank customers increased in december to billion dlrs from billion in november and billion in december deposits by non bank customers rose to billion dlrs against billion and billion reuter 
crude	iran selling discounted crude japan traders say japanese customers have bought nearly six mln barrels of crude oil from the national iranian oil company nioc at a substantial discount to the official price and western traders have received even larger discounts japanese traders involved in the transactions told reuters nioc has sold its crude for march shipment to japanese customers with different formulas one company has bought barrels of iranian heavy at a straight discount of cents below the official price the sources said other deals have been fixed with prices linked to oman and dubai spot prices less a discount they said iran s discounted sales have not however managed to reverse the bullish tone in the crude oil and products spot markets oil traders said market sentiment is being influenced more by the colder weather in europe and reports that opec s february output was below its self imposed quota of mln barrels per day firmer gas oil on the london futures and more bullish sentiment on the new york mercantile exchange futures market are supporting spot price levels they said another japanese trading house has paid the official price but through a processing arrangement will effectively receive a discount the sources said it s just disguised cheating one japanese trader said the sources said only one japanese company had paid the official price for iranian oil it has purchased mln barrels of iranian heavy for april shipment for refining in singapore they said about nine vlccs of iranian crude have been sold to western traders with pricing based pct on the official price and pct on spot prices or with part of the price related to processing arrangements 
acq	ici sells stake in lister and co imperial chemical industries plc ici l said it had today placed its pct stake in lister and co plc with l messel and co and that it had now been placed widely among institutions lister is a manufacturer dyer and finisher of cotton silk wool and man made fibres reuter 
money-fx	u k money market shortage forecast at mln stg the bank of england said it forecast a shortage of around mln stg in the money market today among the factors affecting liquidity it said bills maturing in official hands and the treasury bill take up would drain around billion stg while below target bankers balances would take out a further mln against this a fall in the note circulation would add mln stg and the net effect of exchequer transactions would be an inflow of some mln stg the bank added reuter 
crude	amoco reports south china sea oil find the u s amoco petroleum corp has reported an offshore oil find at its pearl river basin concession in the south china sea the new china news agency said it said the liu hua a well produced at around barrels per day at a depth of metres the news agency said amoco plans to drill a second well in the area this year but gave no further details reuter 
interest	national westminster bank says it cutting base lending rate to pct from pct 
interest	national westminster bank cuts base rate national westminster bank plc said it has cut its base lending rate percentage points to pct today national westminster said that it was responding to general easing in money market rates its move followed a signal from the bank of england earlier this afternoon that it would endorse a half point cut in the base rate a surprise move following its strong signals last week that such a move would be premature however since then the pound has continued to gain strongly reuter 
earn	u s facilities usre semi annual dividend semi annual dividend cts pay may record april note full name is u s facilities corp this is first dividend declared since company completed its initial public offering on november reuter 
acq	standard pacific spf acquires south bay s l standard pacific lp said it has acquired substantially all of the assets and liabilities of south bay savings and loan association of newport beach the firm said over the weekend that it will conduct its savings and loan activities through standard pacific savings fa a federal stock association on friday the federal home loan bank board in washington said it approved the acquisition of south bay s and l a mln dlr state chartered stock association by standard pacific which has mln dlrs in assets the bank board said that the federal savings and loan insurance corp will make a cash contribution provide capital loss coverage and indemnify standard pacific against undisclosed liabilities reuter 
acq	piedmont pie agrees to usair u buyout usair group inc said piedmont aviation inc has agreed to be acquired for dlrs per share the company in a newspaper advertisement said it has started a tender offer for all piedmont shares at that price and the piedmont board with two directors absent has unanimously approved the bid the offer and withdrawal rights are to expire april three unless extended and the bid is to be followed by a merger at the same price usair said piedmont has granted it an irrevocable option to buy up to new shares under certain circumstances piedmont now has about mln shares outstanding usair said the tender is conditioned on receipt of enough shares to give usair at least a pct interest in piedmont on a fully diluted basis and approval by the u s department of transportation of a voting trust agreement permitting usair to buy and hold shares pending review of its application to gain control of piedmont the company said its merger agreement with piedmont provides that the offer is not to be amended without piedmont s prior written consent in any way that would be adverse to piedmont shareholders but it said it could cut the number of shares to be bought without piedmont s consent usair said it could reduce the number of piedmont shares to be purchased in the offer to no less than the minimum number needed to cause the voting trust condition of the bid to be satisfied in that case it said if more than that minimum number of shares were tendered it would buy shares on a pro rata basis in february usair had offered to pay dlrs per share in cash for pct of piedmont s stock and to usair shares for each remaining piedmont share last week carl c icahn controlled trans world airlines inc twa made a conditional offer to acquire usair for dlrs per share a bid that was rejected by the usair board the transportation department on friday rejected twa s application to acquire usair on the grounds that the application failed to comply with department regulations by omitting necessary information twa said it would refile today providing the information needed on friday twa said it had already acquired four mln shares or pct of usair reuter 
acq	sosnoff starts bid for caesars world caw mts acquisition corp a company formed by martin t sosnoff said it has started a tender offer for all shares of caesars world inc at dlrs each in a newspaper advertisement mts said the offer and withdrawal rights expire april three unless extended sosnoff a new york investor already owns about four mln of caesars mln shares outstanding or about pct and is caesars largest shareholder caesars owns casino hotels in nevada and honeymoon resorts in pennsylvania s pocono mountains it also controls caesars new jersey inc cjn which owns an atlantic city n j casino hotel for the second quarter ended january caesars world earned mln dlrs on revenues of mln dlrs up from earnings of dlrs and revenues of mln dlrs a year before for all of fiscal the company earned mln dlrs on revenues of mln dlrs mts said the offer is conditioned on receipt of at least enough shares to give sosnoff a majority interest on a fully diluted basis the arrangement of sufficient financing to buy all caesars shares not already owned and pay related costs and approval by the new jersey casino control commission and the nevada gaming commission and state gaming control board mts said marine midland banks inc mm has committed to lend it mln dlrs for the acquisition and use its best efforts to syndicate another mln dlrs in senior financing for the transaction it said its financial adviser painewebber group inc pwj has stated in writing that subject to market conditions it is highly confident that it can arrange commitments for up to mln dlrs in mezzanine financing mts said it does not expect problems in obtaining new jersey and nevada regulatory approval for the acquisition since ownership in a caesars stake has already been cleared in june sosnoff requested a seat on the caesars world board a request that has not yet been granted in september sosnoff who is chairman of atalanta sosnoff capital corp filed for clearance under u s antitrust laws to raise his interest in caesars world to pct sosnoff said in a letter to caesars world chairman and chief executive officer henry gluck that the decision to go directly to the shareholders was made at the urging of may financial and legal advisors who repeatedly stressed to me the lack of responsiveness of the management in the past sosnoff who said he has made numerous efforts to express his views to management on ways of maximizing shareholder values said caesars twicce refused his request for a board seat my advisers felt that had i given you advance notice you would have used the time to throw up obstacles to my offer rather than giving it serious consideration he said sosnoff said he hopes that caesars world management will be willing to negotiate an acquisition agreement with him as i have indicated publicly in the past i believe operating management of the company has performed well and that appropriate consideration should be given to a significant equity interest for them in the company following the acquisition sosnoff said in the letter to gluck mts said sosnoff has asked the company to fix march as the record date for the determination of shareholders entitled to authorize action without a meeting including the election or removal of directors reuter 
acq	trump makes bid for control of resorts rtb casino owner and real estate developer donald trump has offered to acquire all class b common shares of resorts international inc a spokesman for trump said the estate of late resorts chairman james m crosby owns of the class b shares resorts also has about class a common shares outstanding each class b share has times the voting power of a class a share giving the class b stock about pct of resorts voting power more 
earn	iomega iomg sets management labor layoffs iomega corp said it has laid off over a quarter of its professional and management staff and nearly half of its direct labor force as part of a restructuring and downsizing of its business the company also said it will receive a qualified opinion from the auditors of it financial statement subject to the outcome of two suits the company is a defendant in a consolidated class action law suit which seeks damages in an unspecified amount and is also a defendant in a related shareholder action iomega said the auditors state in their opinion letter that both actions are in the early stages of discovery and the likely outcome can not be determined at this time the company said a corporate wide reduction of its professional management and indirect labor will result in the permanent elimination of positions in all functional areas of the company s business this represents over pct of professional management and indirect employees it added in addition iomega announced layoff of about employees principally from its manufacturing direct labor force those affected represent about pct of direct labor commenting on the layoffs iomega said those from among the direct labor force affects personnel building the alpha eight inch disk drive and bernoulli boxes this action is required as we bring our finished goods inventory and inventory in our distribution channels down to acceptable levels it explained the company stated this layoff does not affect the production of its new inch beta product which is currently being built to a backlog of orders reuter 
ship	brazil seamen continue strike despite court hundreds of marines were on alert at key brazilian ports after seamen decided to remain on indefinite strike even after the higher labour court saturday ruled it illegal union leaders said the halt the first national strike by seamen in years started on february and union leaders said they would not return to work unless they got a pct pay rise shipowners have offered a per cent raise which the seamen rejected we have nothing to lose if they want to lay off the workers fine but we are determined to carry on with our protest until the end a union leader said more he said they had decided in a meeting that if the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation by themselves a spokesman for the rio de janeiro port said the order to send marines to take over the ports was given by navy minister henrique saboya on grounds that ports are areas of national security but he said there were no incidents the strike has cut exports and imports and made an estimated ships idle petrol station owners in four states also continued their shutdown and there were fears that the combination of the two stoppages could lead to a serious fuel shortage reuter 
acq	chrysler to take over renault stake in american motors says renault 
earn	southern co to take mln dlr charge on projected vogtle cost rise 
acq	applied circuit acrt sells electronics business applied circuit technology inc act said it has agreed in principal to sell its primary computer electronics business to the sanpao group of san francisco act said it has not disclosed the deal s terms but added that pct of the sale price is in cash with the remainder to be paid over a two year period the deal is expected to close on march act said act said it made the move to concentrate resources on its pharmaceuticals subsidiaries reuter 
acq	usair u acquires pct of piedmont pie usair group inc said it has acquired piedmont aviation inc shares about pct on a fully diluted basis from norfolk southern corp nsc the acquisition of piedmont by usair has been approved by the directors of both companies usair said it has been advised by norfolk southern that the company supports the proposed merger and intends to tender all of its remaining piedmont common shares in response to usair s tender offer which began today this total includes shares issuable upon conversion of piedmont preferred usair noted usair said piedmont has about mln common shares on a fully diluted basis adding its offer is conditioned on the tender of at least shares representing pct of the oustanding shares on a diluted basis usair said the new shares it has an option to buy represent pct of piedmont s currently outstanding shares reuter 
acq	gencorp to sell los angeles television station to walt disney co 
acq	nationwide cellular ncel completes purchase nationwide cellular service inc said it has completed the previously announced acquisition of privately held nova cellular co a chicago reseller of mobile telephone service with subscribers for about common shares nova cellular has an accumulated deficit of about dlrs and had revenues of about dlrs for it said reuter 
interest	national westminster bank cuts base rate national westminster bank plc said it has cut its base lending rate percentage points to pct today national westminster said it was responding to general easing in money market rates its move followed a signal from the bank of england earlier this afternoon that it would endorse a half point cut in the base rate a surprise move following its strong signals last week that such a move would be premature however since then the pound has continued to gain strongly reuter 
ship	hutchison unit buys container cranes from japan container port operator hong kong international terminals ltd a pct held unit of hutchison whampoa ltd hwhh hk said it has placed a mln h k dlr order for seven quayside container cranes of tons each with japan s mitsui engineering and shipbuilding co ltd mset t for may to august delivery hong kong international terminals operates cranes reuter 
ship	bosphorus shipping moves istanbul offices close istanbul remained at a virtual standstill today under snow up to a meter deep but shipping was moving through the narrow bosphorus waterway linking the sea of marmara and the black sea officials said the authorities ordered government offices closed until wednesday many banks businesses and schools stayed shut as workers struggled to keep main roads and supply lines open in this city of mln people the second blizzard to hit istanbul in a week stopped yesterday afternoon and the international airport reopened today after a two day closure it was also shut earlier last week reuter 
crude	ecuador to export no oil for months official the suspension of ecuador s crude oil shipments after an earthquake cut an oil pipeline will last at least four months a senior energy ministry official said the official said ecuador could resume exports after repairing a km section of the km pipeline which links jungle oil fields at lago agrio to balao on the pacific coast it would take about mln u s dlrs to repair the pipeline the official who did not want to be named told reuters ecuador had enough oil to meet domestic demand for about days and would have to import crude to supplement stocks the earthquake last thursday night registered six on the point international mercalli scale the damage to the pipeline was a severe economic blow to ecuador where oil accounts for up to two thirds of total exports and as much as pct of government revenues financially pressed ecuador a member of the organisation of petroleum exporting countries opec was recently pumping about barrels per day bpd of crude about bpd above the output quota assigned by the cartel another energy ministry spokesman said last year it exported an average of bpd according to the central bank however ecuador might build an emergency km pipeline costing to mln dlrs to hook up with a colombian pipeline the first official said he estimated it could take about days to build ecuador squeezed by the slide in world oil prices in had only mln dlrs in net international reserves at the end of january about equal to one month s imports it suspended interest payments in january on billion dlrs owed to about private foreign banks the country s total foreign debt is billion dlrs the eighth largest in latin america in caracas president jaime lusinchi said venezuela would loan five mln barrels of crude to ecuador over the next three months to make up for losses from damage to the pipeline ecuador asked for the loan to guarantee domestic supplies and would ship an equivalent volume back to venezuela in repayment in may lusinchi said a commission headed by venezuelan investment fund minister hector hurtado and including representatives from the interior and defence ministries and the state oil company petroleos de venezuela will travel to ecuador tuesday to evaluate and co ordinate an emergency relief program he said reuter 
acq	mcdowell me to merger with interpharm inc mcdowell enterprises inc said it has signed a definitive agreement to acquire an pct interest in privately held interpharm inc for a pct interest in mcdowell the company said subject to contigencies including future sales and profit levels mcdowell could over a four year period acquire pct of interpharm in exchange for up to pct of mcdowell s voting stock it said the transaction is expected to be completed within days at which time the mcdowell board would be restructured to include interpharm management reuter 
acq	renault chrysler in accord for chrysler to buy amc regie nationale des usines renault rena pa said it and chrysler corp c have signed a letter of intent in which chrysler plans to buy american motors corp amo n pct owned by renault renault president raymond levy said in a statement issued by the french state car group the agreement was an important stage in renault s redeployment it will allow renault to continue its export programme to the u s and also opens a perspective of cooperation with a major american constructor the statement said under the terms of the letter of intent chrysler will purchase renault s stake held in the form of bonds and shares the renault statement quoted chrysler chairman lee iacocca as saying we welcome amc shareholders into the chrysler family he added that the accord would allow renault and chrysler to study the development of future products destined to be distributed by renault and chrysler in the north american and world markets renault is a leader in our industry and i am happy to be working with them iacocca was quoted as saying chrysler will pay for renault s amc interests held in bonds by a mln dlr bond and will pay up to mln dlrs for renault share interests depending on amc sales and future profits the renault statement said the statement said the agreement in principle gave each side days to put together a definitive accord approval would also be necessary from the renault chrysler and amc boards from amc shareholders and the relevant government authorities if the deal goes ahead the statement said amc shareholders other than renault will receive chrysler shares for each of their shares valued at four dlrs amc shareholders with convertible preferential shares will have the possibility to exchange them for chrysler shares on the same conditions as those they would have had in exchanging them for amc shares reuter 
acq	first boston affiliate to acquire allegheny int l for dlrs shr 
earn	southern so to take charge on vogtle cost southern co said it will take an after tax charge of mln dlrs against earnings no later than january because the projected cost of the vogtle nuclear power plant has risen abover the amount which retail customers in georgia will be asked to pay the company s largest subsidiary georgia power co said the budget for the plant has increased by pct or mln dlrs to billion however because of a pledge the made last year to georgia s public service commission the increased cost will not be included in the utility s retail electric rates geogia power also said its board has delayed the scheduled completion of vogtle s unit two to june from september unit two is about pct complete it added the utility said fuel loading has been completed at unit one and the unit is being put through a series of low power tests before the nuclear regulatory commission is asked for a full power license the nuclear power plant located near waynesboro ga is co owned by oglethorpe power corp the municipal electric authority of georgia and the city of dalton georgia power said the revised vogtle budget estimate was due to several factors including additional labor costs incurred to keep the plant s first unit on schedule for commercial operation by june the new figure represents the first change in the plant s budget since august when it was estimated at billion dlrs in march the utility told georgia regulators it would cap the price of vogtle its customers would be asked to pay at billion dlrs the company s share of the then projected billion dlr total under the new budget georgia power said its share amounts to billion dlrs noting that georgia power s share of the vogtle increase is mln dlrs southern said this will result in a charge against earnings of mln dlrs after taxes in addition the company said georgia power s contracts with the joint owners require the utility to buy back significant amounts of vogtle capacity during the plant s initial years of operation under terms of the cap on costs it will not attempt to recover the portion of the budget increase that applies to the buybacks this bings the total amount that must be charged against earnings to mln dlrs after taxes southern said southern said new rules of the financial accounting standards board which are effective in january require any costs that are determined nonrecoverable to be charged against earnings once that determination is made the company also said its board has approved a capital budget of billion dlrs in including work on the vogtle project it said a billion dlr capita budget for the three year period was also outlined at the board meeting noting this is mln dlrs below the comparable figure for the years reuter 
acq	stora close to completing papyrus takeover sweden s stora kopparbergs bergslags ab skps st said it had now acquired pct of shares in rival pulp and paper makers papyrus ab thus passing the threshold above which it can compulsorily buy the rest of the company remaining shareholders would have until later this month to sell their shares to stora the company said in a statement stora announced last september it would acquire papyrus at a price of billion crowns thus forming europe s second largest forest group after london based reed international plc reed l reuter 
money-fx	u k money market given late help worth mln stg the bank of england said it provided the market with unspecified late assistance worth mln stg it has given the market total assistance of mln stg today compared with a liquidity shortage it estimated at a revised mln stg reuter 
acq	white engine bought by private investor white engine a manufacturer of industrial and automotive diesel and gasoline engines with more than mln dlrs in sales said it has been sold to a group of group investors white engine said the purchase is led by donald stewart a private investment banker along with white senior executives a source close to the transaction said the purchase prices is being set at more than mln dlrs the company said it will change its name to hercules engines inc and stewart will be the majority interest owner as well as the president and chief executive officer in addition john lennon current chairman and chief executive officer will remain as chairman he company said and joseph g scheetz currently president will be vice chairman according to the company reuter 
acq	stora close to completing papyrus takeover sweden s stora kopparbergs bergslags ab skps st said it has now acquired pct of shares in rival pulp and paper makers papyrus ab thus passing the threshold above which it can compulsorily buy the rest of the company remaining shareholders would have until later this month to sell their shares to stora the company said in a statement stora announced last september it would acquire papyrus at a price of billion crowns thus forming europe s second largest forest group after london based reed international plc reed l reuter 
acq	allegheny int l ag first boston set merger allegheny international inc said it has entered into an agreement to merge with an affiliate of first boston inc s fpc first boston corp in a transaction valued at about mln dlrs allegheny said the agreement calls for holders of its common to receive dlrs a share holders of the company s dlrs cumulative preference shares will receive dlrs a share and those owning its dlrs convertible preferred will receive dlrs a share allegheny international said the agreement calls for the first boston affiliate to start a cash tender offer for all outstanding shares of allegheny s common cumulative preferred and convertible preferred the company said first boston has committed to provide all financing necessary to acquire such securities in the tender offer which is estimated to be about mln dlrs it said the agreement is also subject to the waiver by march of certain conditions under the company s existing bank credit agreement allegheny international s statement did not name or describe the first boston affiliate involved in the agreement it did say the offer for the company s stock will be conditioned also on the valid tender of securities representing at least a majority of the voting power for the election of directors of the company and the valid tender of at least two third s of the outstanding cumulative preferred and convertible preferred shares reuter 
acq	chrysler says amc holders to get chrysler stock worth four dlrs a share under buyout plan 
earn	continental bank canada sets distribution continental bank of canada a subsidiary of lloyds bank plc lloy l said it intends to redeem all existing preferred shares and distribute a stock dividend to common shareholders the initial distribution will be in cumulative redeemable retractable floating rate class a preferred shares series ii which will carry a retraction right enabling holders to receive dlrs for each share continental said the mln dlrs of existing outstanding preferred shares will be paid off at par plus accrued dividends continental said the notes will carry a dividend rate of pct of prime and it expects that the shares will trade at dlrs or more enabling shareholders who wish to receive cash to do so the bank said it expects the distribution will be made in early may subject to various approvals continental also said that as of march it had cash of more than mln dlrs and equity of about mln dlrs allowing for a final total distribution of dlrs per common share continental bank said it continues to expect that the final distribution to shareholders will be in the range of dlrs to dlrs per share and will take place in late or early until the initial stock distribution takes place regular dividend payments will be maintained on the existing preferred shares the bank said the distribution is part of the terms of continental bank of canada s sale of its banking assets to lloyds bank canada a subsidiary of lloyds bank plc continental bank said lloyds bank canada paid the balance of the purchase price but that it was lower than originally anticipated since continental was unable to transfer certain income tax deductions to lloyds bank continental did not give further details more 
trade	study says u s canada pact would spur economies a free trade pact between the united states and canada could spur the economies of both sides substantially according to a study released by the institute for international economics the study by paul wonnacott said a successful conclusion to the free trade talks now under way could raise canada s gross national product by more than five pct and expand u s export s by about seven pct he said the pact could resolve the knotty issue of government subsidies end curbs on trade in services and investments and pave the way for new global talks under the general agreement on tariffs and trade the united states and canada the world s two biggest trading partners with cross border shipments of about billion dlrs a year opened free trade talks last june they are aiming for a pact by next october wonnacott an economics professor at the univerity of maryland said an agreement should include elimination of tariffs between the two countries phased in over a five to year period equal access to federal government procurement in the two countries replacing current buy america and buy canada provisions with a buy north america provision fewer restrictions in trade in services chiefly finance and transportation a commitment not to screen foreign investments in favor domestic producers a commission to resolve bilateral trade disputes wonnacott said that to resolve the subsidy problem the two sides should permit export subsidies of exports of up to or pct without imposing coutervailing duties the limit on subsidies is now pct he proposed that any attempt to impose new duties to offset subsidies should go first a special disputes commission for resolution at an early stage wonnacott said bilateral free trade would contribute to the efficiency of the north american economies and to their competitiveness in facing overseas producers he said it would it would open u s markets to canadian goods and enable them to benefit from the economies of mass production benefits to the united states would be fewer than those to canada proportionately he said because of the already large u s gross national product wonnacott said also that a u s canada pact in such areas as export subsidies and the creation of a dispute commission could set an example for the current attempt by gatt to write new and more liberal global trading regulations reuter 
earn	gulf resources gre to have gain on stock sale gulf resources and chemical corp said it has sold shares of imperial continental gas association for pence a share or mln stg in a private transaction for a pretax gain of about mln dlrs gulf resources said it still owns mln shares of imperial continental or a pct interest and continues to study various alternatives reuter 
acq	donald trump said he has agreed to purchase crosby estate s resorts shares 
acq	bsn bsn share sale advances bsn corp said its agreement to sell new common shares or a pct interest to unaffiliated european institutional investors for mln dlrs has become definitive the company said closing is expected shortly after the filing of a registration statement with the securities and exchange commission which is expected to be made this month reuter 
acq	gencorp gy unit to sell los angeles tv station gencorp said its rko general subsidiary agreed to sell khj tv in los angeles to walt disney co dis for mln dlrs cash plus working capital and other adjustments at closing the company said under the agreement in principle rko s application to renew the station s broadcast license would be dismissed and the competing application of fidelity television would be granted disney would then acquire privately held fidelity for about mln dlrs and other adjustments renewal of the khj tv license has been challenged in regulatory proceedings for more than years the deal is subject to prior approval by the federal communications commission the company said late in gencorp cut a deal with fidelity a los angeles investor group and westinghouse electric corp wx to settle the license proceedings and sell khj tv for mln dlrs pct of which would go to westinghouse and the remainder to fidelity but on jan westinghouse withdrew from the deal because the fcc would not approve it in early gencorp and rko agreed to sell wor tv in secaucus n j to mca inc mca for mln dlrs the fcc has approved the transaction but several parties have appealed the fcc has not said when it would rule on the appeals according to a spokemsan for akron ohio based gencorp fidelity television originally filed a competing application for the rko license for khj an independent station in in the fcc disqualified rko as licensee of wnac tv in boston citing anti competitive trade practices and inaccurate financial reporting to the agency causing renewals previously granted to rko in new york for wor and los angeles for khj to be denied reuter 
interest	barclays bank said it cutting base lending rate to pct from pct 
interest	midland bank said it cutting its base rate to pct from pct 
acq	imatron imat sells stake to mitsui mitsy imatron inc said mitsui and co ltd of japan has purchased a two mln dlr equity interest in imatron at market price and was granted a day option to make another two mln dlr investment at the same price imatron said mitsui the exclusive importer of imatron s ultrafast computed tomography scanners into japan is scheduled to take delivery of its first scanner next month for installation in a large cardiology center it said it has entered into preliminary discussions with mitsui on the formation of a joint venture to finance the accelerated development of imatron s technology and its commercialization in japan reuter 
earn	a h robins s qrah january earnings up a h robins co the drug company in bankruptcy proceedings due to litigation over its dalkon shield contraceptive device reported consolidated net earnings for the month ended january of mln dlrs in the corresponding year ago period it reported net earnings of mln dlrs robins said the filings were made with the u s trustee overseeing its chapter bankruptcy case reuter 
interest	barclays midland follow natwest base rate cut barclays bank plc bcs l and midland bank plc mdbl l said they are cutting their base lending rates to pct from pct the cuts follow a similar move by national westminster bank plc nwbl l the rate changes take effect tomorrow reuter 
acq	control data cda to buy peripherals stake control data corp said it agreed to acquire unisys inc s uis pct stake in magnetic peripherals inc the letter of intent provides that unisys converts from an owner in magnetic peripherals to a customer of control data s data storage products group over a two year period under the agreement control data will continue to furnish disk drives to unisys it said no other details of the proposed agreement were available magnetic controls managed by the data storage products group of control data was founded in as a joint venture to maintain a technological base in data storage and supply peripheral equipment for the computer systems of its owners the venture has become a developer and manufacturer of high performance high capacity data storage products sold by control data to computer systems manafacturers worldwide it said after conversion of the unisys interest control data will own pct honeywell inc hon pct and bull s a of france six pct it said reuter 
acq	donald trump to buy crosby resorts rtb stock casino hotel operator and real estate developer donald trump said he has agreed to purchase the class b common stock of resorts international inc held by the family and estate of late resorts chairman james crosby for dlrs per share trump said he is also considering a tender offer for remaining class b shares at the same price but has no interest in resorts class a shares trump said the shares he has agreed already to buy represent a pct interest in the class b stock the estate itself owns of the class b shares there are also about class a shares outstanding but trump said i have no interest in the class a shares each class b share has times the voting power of a class a share in atlantic city resorts said in a statement that the class b shares being sold to trump represents pct of the combined voting power in resorts it said closing is dependent on receipt of necessary regulatory approvals and other matters and after closing trump will tender for remaining class b shares at the same price reuter 
acq	usair u wins court order against twa twa usair group inc said a u s district court in pittsburgh issued a temporary restraining order to prevent trans world airlines inc from buying additional usair shares usair said the order was issued in response to its suit charging twa chairman carl icahn and twa violated federal laws and made misleading statements twa last week said it owned pct of usair s shares it also offered to buy the company for dlrs a share cash or billion dlrs more 
acq	grease monkey gmhc gets rejects merger offer grease monkey holding corp said it has received and rejected an unsolicited merger offer from jiffy lube international inc lube the company said the proposal involved an exchange of grease monkey common stock for a combination of jiffy lube securities with an estimated current value substantially below grease monkey s current market price it said it will not disclosed details reuter 
acq	chrysler c in deal to buy amc amo chrysler corp said it agreed in principle with french state owned renault to acquire american motors corp in which renault is controlling shareholder under a deal in which amc stockholders other than renault would receive chrysler common stock with a market value of four dlrs for each amc common share they hold chrysler said the letter of intent for the deal which needs government and amc shareholder and board approval provides that amc holders will receive not more than or less than of a share of chrysler common for each share of amc common they hold more 
interest	barclays midland follow natwest base rate cut barclays bank plc bcs l and midland bank plc mdbl l said they are cutting their base lending rates to pct from pct the cuts follow a similar move by national westminster bank plc nwbl l the rate changes take effect tomorrow the base rate reductions came after the bank of england cut its dealing rates this morning in a signal to the money markets that it would not resist a half percentage point drop in bank base lending rates market sources said until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the government s annual budget on march sterling remained firm around dlrs compared with its close here on friday at dlrs reuter 
acq	dixie yarns dxyn to acquire ti caro inc dixie yarns inc and ti caro inc jointly said they signed a merger agreement calling for dixie to acquire all ti caro s stock in exchange for three mln of dixie s common the companies said the previously announced merger has been approved by ti caro s board and is expected to close by early april they said the revenues of the combined companies will be over mln dlrs and dixie said the merger will not dilute its results ti caro was taken private in in a management led leveraged buy out reuter 
ship	gale force winds buffet great lakes the national weather service said warnings of gale force winds remained in effect over lakes erie huron and michigan also warnings have been posted for large waves and beach erosion along the shores of the lakes winds gusting to mph caused four to six foot waves along the western and southern shores of lake michigan during the morning advisories for low wind chill temperatures have also been posted across portions of upper michigan and northern lower michigan early morning gusty winds brought the wind chill to and degrees below zero freezing rain was scattered over central colorado by mid morning also over central kansas and northeast illinois snow reached from south central montana across wyoming western nebraska and western kansas snow also extended across northern wisconsin upper michigan and northern lower michigan rain reached along the northern pacific coast across northwest utah maryland deleware virginia the carolinas georgia and northern alabama reuter 
interest	u k issues one billion stg bond tranche the bank of england said it was taking onto its books a further one billion stg tranche of pct treasury loan stock due payable stg pct on application the stock was issued to the bank at stg pct and will be available for dealings from march with the remainder of the amount payable on may the bank said the bonds would yield pct at the issue price and would be free of tax to residents overseas the issue would be designated pct treasury loan b a further mln stg was reserved for the national debt commissioners the market dropped by up to point following the bank s announcement with the treasury pct stock due quoted one full point lower at stg pct around minutes after the news dealers said the announcement had to be viewed against the backdrop of intense pressure for lower u k interest rates which had built up over the past two weeks as a result of sterling s strength the bank this morning finally signalled it was prepared to see lower rates and u k clearing banks this afternoon announced cuts in their base lending rates to pct from pct the bank had initially been reluctant to countenance a rate cut because dealers said the authorities had wished to delay a reduction until around the time of the u k budget on march thereby preserving the full impact of chancellor of the exchequer nigel lawson s package of measures however in the face of sterling s apparently inexorable climb the authorities today decided to cede to pressure and allow a half point cut today s one billion stg tap issue was viewed by the market as a move by the bank to eradicate hopes for a further early rate cut which might arise as a result of strong sterling most market participants believe that lawson will now foster a further half point interest rate reduction at the time of the budget although one or two said they would not be surprised to see a full point decline at this stage dealers noted that as part of the authorities attempts last week to ease pressure for lower rates the bank had issued a one billion stg tap stock with a view to subduing the government bond market to the surprise of most participants the issue was sold out within hours of becoming available for trading and the market pushed on to register further sharp gains dealers said that at this stage it seemed unlikely that the issue announced today would be absorbed by the market as rapidly as last week s however they noted that although sterling had edged down from its highs following the base rate cut it had still closed on a trade weighted basis at well ahead of friday s final and only just beneath the peak of touched at gmt reuter 
acq	amc says it is studying chrysler buyout proposal and will comment when appropriate 
crude	petro canada to drill two terra nova test wells petro canada canada s state owned oil company said it will drill two delineation wells this summer at the terra nova oil field offshore newfoundland evaluation of test results and preliminary engineering work should put petro canada in a position to propose a development plan for the terra nova field in the company said depending on time required for regulatory approvals construction could begin in with first oil production as early as petro canada said we have a high degree of confidence that the western portion of the terra nova field contains at least mln cubic meters of recoverable oil or more than mln barrels and that we could produce it economicly using a floating production system petro canada said the terra nova field lying kilometers east of st john s and kilometers southeast of hibernia field was discovered by petro canada in we ve had encouraging results from the eastern portion of the field and we hope this summer s drilling will prove up additional reserves there the company said petro canada believes terra nova field is a good commercial prospect and the company wants to move some of those resources towards development so it can start generating a return on investments petro canada said petro canada which will act as operator of the two wells has a pct interest in the western portion of graven block of the terra nova field and a pct interest in the field s east flank block a company spokesman said later other field participants include canterra energy ltd mobil oil canada ltd gulf canada resources inc icg resources ltd trillium exploration corp and general partnership parex petro canada estimates reserves in the terra nova field s graven block of between mln and mln barrels of oil company spokesman bob foulkes said from petro canada s calgary office combined reserves for graven block and the field s east flank block are estimated between mln and mln barrels he added petro canada expects to spend about mln canadian dlrs to bring the field to production by about and the development budget could double if the company builds a production system combining both blocks in the field he said petro canada estimates the terra nova field graven block would produce between and barrels average daily production with a production system that would have maximum capacity of bpd company spokesman foulkes said in answer to a query the company estimates a production system combining both graven and east flank blocks in the terra nova field could produce about bpd average daily production he said reuter 
earn	charan sees at least pct rise in profit charan industries inc a distributor of toys and other consumer products expects net profit to rise at least pct over last year s mln dlrs president earl takefman told reporters before the annual meeting we grew basically pct last year i m not sure we re going to be able to grow pct again this year but we certainly will grow at least pct over last year takefman said charan reported profit of mln dlrs in takefman said he expects sales to rise to about mln dlrs this year from mln dlrs in fiscal ended september while fiscal ended november takefman said the company is actively looking for acquisitions in the consumer products industry likely in canada the company said it expects to resolve delivery problems this year which last year hindered the growth of its toy distribution business which accounts for about one third of revenues charan is the exclusive distributor in canada for worlds of wonder toys which include the teddy ruxpin voice activated talking plush bear takefman said new products this year which will be on the shelves for christmas include a smaller version of teddy ruxpin a talking mickey mouse toy dancing plush toys a doll with a voice activated by sound touch light and heat and talking books the company is also marketing an extended line of laser tag kits which shoot rays of light and tell you when you ve hit someone other products include a recorder device which allows students to leave taped messages in each others school lockers retailing for about dlrs reuter 
earn	mayfair super markets myfra sales increased mayfair super markets said its sales for the second qtr ended feb were mln dlrs an increase of more than pct compared to sales of mln dlrs in the comparable quarter last year the company said sales for the first six months of the year were mln dlrs more than pct above the mln dlrs reported in the same period last year this was the th consecutive quarterly gain the company said the company said it expects to release earnings in april reuter 
interest	barclays midland follow natwest base rate cut barclays bank plc bcs l and midland bank plc mdbl l said they are cutting their base lending rates to pct from pct the cuts follow a similar move by national westminster bank plc nwbl l the rate changes take effect tomorrow the base rate reductions came after the bank of england cut its dealing rates this morning in a signal to the money markets that it would not resist a half percentage point drop in bank base lending rates market sources said until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the government s annual budget on march sterling remained firm around dlrs compared with its close here on friday at dlrs reuter 
acq	united auto workers union says it supports chrysler amc merger 
interest	lloyds bank matches base rate cut to pct lloyds bank plc lloy l said it is cutting its base lending rate to pct from pct effective tomorrow the reduction follows similar moves from the three other british clearing banks national westminster bank plc nwbl l led the way this morning after the bank of england lowered its dealing rates in a signal that it would tolerate a half percentage point reduction the central bank s surprise signal followed its strenuous efforts last week to prevent market forces from bringing down base rates before the u k budget on march reuter 
acq	norcros breaks off merger talks with williams norcros ncro l plc said it has no intention of proceeding any further with talks on williams holdings plc s suggestion that there would be benefits arising from a merger between the two groups norcros said any such benefits could be achieved through normal trading and did not warrant a closer formal association norcros shares firmed p to p after the news on investor speculation of a possible hostile bid from williams dealers said williams rose p to williams earlier informed norcros that it holds some of its ordinary shares or pct of those issued reuter 
interest	lloyds bank matches base rate cut to pct lloyds bank plc lloy l said it is cutting its base lending rate to pct from pct effective tomorrow the reduction follows similar moves from the three other british clearing banks national westminster bank plc nwbl l led the way this morning after the bank of england lowered its dealing rates in a signal that it would tolerate a half percentage point reduction the central bank s surprise signal followed its strenuous efforts last week to prevent market forces from bringing down base rates before the u k budget on march reuter 
interest	lloyds bank matches base rate cut to pct lloyds bank plc said it is cutting its base lending rate to pct from pct effective tomorrow the reduction follows similar moves from the three other british clearing banks national westminster bank plc led the way this morning after the bank of england lowered its dealing rates in a signal that it would tolerate a half percentage point reduction the central bank s surprise signal followed its strenuous efforts last week to prevent market forces from bringing down base rates before the u k budget on march reuter 
interest	french week t bill average rate falls to pct from pct official 
acq	amc amo studying chrysler c proposal american motors corp said it is studying a proposed merger with chrysler corp american motors said it received a letter from chrysler corp advising us of their proposal to enter into a merger transaction with american motors corp in a brief statement the company said we are studying the proposal we will have further comment when it is appropriate reuter 
acq	wall street stocks american express axp american express co s stock fell sharply reflecting in part investors disappointment that the company did not make an announcement about its plans for brokerage unit shearson lehman brothers traders said the company has said it is studying options for its shearson unit traders said many investors anticipated an announcement this weekend that it would spin off shearson lehman also they said a flurry of arbitrage related sell programs that pounded the general market today accelerated the selloff of american express a component of the dow industrial average american express fell to it was part programs and part that there was anticipation of an announcement of a spinoff or something with shearson this weekend and that announcement never happened one trader said in the last few minutes of trading on friday another trader said the stock jumped to close up largely on anticipation that the company would make a weekend announcement reuter 
crude	amoco s first south china sea exploratory well flows barrels of oil daily 
acq	uaw says it back chrysler c amc amo merger the united auto workers uaw union said it supports chrysler corp s proposal to buy american motors corp as creating a good match that potentially points the way to a more secure future for workers at both companies we believe our members interests can be well served within the chrysler family and we are committed to making that happen uaw president owen bieber and vice president marc stepp said in a statement we believe chrysler s purchase is a logical and sound step for all concerned the union said the uaw is negotiating with amc over the carmaker s demand for economic concessions covering workers at its wisconsin operations without which amc has said it would cease vehicle production at its kenosha wisconsin assembly plant by reuter 
acq	twa twa declines comment on usair u a transworld airlines inc official said the airline has no comment on usair group inc s planned buyout of piedmont aviation inc twa however has pursued its application with the department of transportation for a takeover of usair according to mark buckstein twa general counsel and vice president twa filed a revised application today following the dot s rejection friday of an incomplete application filed last week earlier usair said it agreed to buy piedmont for dlrs cash per share 
acq	moody s may downgrade piedmont aviation pie moody s investors service inc said it may downgrade mln dlrs of debt of piedmont aviation inc because of the airline s agreement to be acquired by usair group inc u the rating agency said its review would focus on the effect of the acquisition on piedmont s financial leverage and its debt service requirements moody s said it is also examining the potential use of the airline s borrowing capacity to finance the merger piedmont currently carries baa preferred stock and prime commercial paper reuter 
acq	usair u and unit remain under moody s review moody s investors service inc said the mln dlrs of debt of usair group inc and its usair inc unit remain under review for possible downgrade the rating agency cited usair group s proposed acquisition of piedmont aviation inc pie as well as trans world airlines inc s twa proposed cash merger with usair however the status of twa s bid for usair group is currently uncertain the u s transportation department has rejected twa s application to acquire usair on deficiency grounds but twa has said it will file a revised application moody s noted under moody s review for possible downgrade are usair group s baa senior debt and baa subordinated debentures along with the usair unit s a senior debt and baa subordinated debentures moody s said it would examine the effects of the proposed mergers on usair group s financial measurements as well as potential damage to the company s financial flexibility because of the probability of increased debt service requirements reuter 
money-fx	fed sets billion dlr customer repurchase fed says 
earn	bally bly to take mln dlr st qtr charge bally manufacturing corp said it expects a charge to earnings in the first quarter of this year of mln dlrs as a result of its deal to buy back mln of its common shares from real estate developer donald trump in a filing with the securities and exchange commission the chicago based hotel casino gambling and amusement concern also said the anticipated charge against first quarter earnings will not be deductible for federal income tax purposes under a february deal bally agreed to buy mln of the mln shares held by trump at dlrs a share or mln dlrs while trump agreed not to try to seek control of bally the agreement also calls for bally to pay trump another mln dlrs for certain agreements claims and expenses related to his purchase of the bally common stock bally said trump agreed not to buy any more bally stock or to try to seek control of the company for years it said bear stearns and co inc signed a similar standstill agreement with bally for three years bally said but it can still deal in bally stock as a broker it said the deal also obligates bally to buy trump s remaining stake in the company for dlrs a share if the stock price does not reach that level by february it said reuter 
crude	shell canada said it raised crude prices by canadian cts a barrel today 
acq	court rejects buitoni appeal over iri food unit an appeal by buitoni spa against a court ruling that an accord under which it was to acquire italian state food firm sme societa meridionale finanziaria was not contractually binding has been rejected court officials said an appeal court rejected buitoni s claim that the billion lire accord with the state industrial company iri istituto per la ricostruzione industriale was a binding contract the decision upholds a court ruling of last july buitoni is controlled by cir compagnie industriali riunite an investment company itself controlled by ing c olivetti ec spa oliv mi chairman carlo de benedetti reuter 
acq	allegheny ag aims to divest more businesses allegheny international inc the consumer products concern that today announced a merger agreement with a first boston corp fbc affiliate in a deal worth about mln dlrs said it intends to divest more units as a way to increase profits we re going to reduce ai to a size consistent with our financial resources said chairman oliver s travers we have made a conscious strategic choice to become a smaller financially sound consumer products company which operates predominantly in the stable political and economic environment of north america he said 
acq	advanced tobacco atpi merger talks end advanced tobacco products inc said it has ended talks on being acquired by sterling drug inc sty but has resumed acquisition talks with other parties the company had previously announced that a major u s based company that it did not identify was evaluating its nicotine technology advanced said sterling s board has decided not to enter the nicotine product market it said it received a dlr payment to deal exclusively with sterling through march six advanced said it had suspended merger talks with other parties as a result of the exclusivity agreement reuter 
acq	t h e fitness rfit buys livingwell unit t h e fitness inc said it agreed to buy livingwell inc s manufacturing unit powercise international inc for mln t h e fitness shares valued at about mln dlrs this acquisition includes all of livingwell s rights to its recently announced powercise fitness equipment in a separate transaction livingwell inc an operator of health clubs placed a six mln dlrs order with powercise international to install the powercise equipment in all of its clubs reuter 
acq	bankamerica bac completes mortgage unit sale bankamerica corp s bank of america unit said it completed the previously announced sale of bankamerica finance ltd to bank of ireland for an expected pre tax gain of mln dlrs bankamerica finance provides residential mortgages in south east england its total assets at the end of were about mln dlrs reuter 
acq	supermarkets general gets unsolicited bid for dlrs shr cash 
crude	shell canada shc raised crude oil postings shell canada a wholly owned subsidiary of the royal dutch shell group rd said that it raised crude oil prices by about canadian cts a barrel today the increase riased its posted price for light sweet crude oil to dlrs a barrel from its march one level light sour crudes were raised to dlrs a barrel the company said reuter 
interest	world bank to bring borrowing forward this year the world bank intends to bring borrowing forward into the first half of because it expects global interest rates to rise by year end world bank vice president and treasurer eugene rotberg said he told a news conference that rates in the u s japan west germany and switzerland were near their lows the weight of opinion is that in a year from now there is a higher probability there will be one pct higher than one pct lower interest rates he said the world bank had not issued floating rate notes so far this year because of the expectation of higher interest rates the policy of the world bank was to maintain liquidity at a level that gave the bank flexibility to decide when where and how much to borrow rotberg said cash in hand was now about pct of the next three years anticipated net requirement and comprised pct of outstanding debt and pct of its debt maturing within five years although the world bank had pioneered the swap market it did not intend to launch new financial instruments just for the sake of innovation rotberg said of a total of billion dlrs debt outstanding only some eight billion had been swapped into another currency many recent innovations were either unfair to investors or unfair to borrowers until the world bank was confident that this was not the case it would not adopt new instruments the world bank would raise pct of the funds needed over the next year with methods used before rotberg said however for some pct of new requirements the bank would try out new instruments such as bonds with warrants the world bank had publicly offered bonds in germany since the first issue was launched in he said 
earn	servicemaster svm sets quarter distribution servicemaster l p approved a second quarter cash distribution of cts payable april record march previously servicemaster said it would pay in an indicated cash distribution of dlrs a share including cts a share which would be paid before april in other action the company set may eight as the date of its annual shareholders meeting reuter 
acq	wall street stocks chrysler c amc amo the proposed mln dlr deal under which chrysler corp would acquire american motors corp was described by analysts as a reasonable deal for both companies ronald glantz of montgomery securities said amc common stock could be fairly valued at just under five dlrs a share given changes brought by tax reform and that chrysler s offer to pay four dlrs a share of chrysler stock to amc holders other than renault as a a good price for chrysler amc common shares opened at four dlrs this morning after the renault chrysler announcement up while chrysler shares lost to though amc issued a statement saying that it was studying the proposed buyout and had no other comment glantz said he regarded the proposal as a done deal because i can t believe anybody else would make a bid it s a reasonable deal for both sides the analyst told reuters chrysler gets the jeep franchise and the new amc bramalea ontario plant and the new renault premier mid sized car and amc s sales will go up because buyers will have more confidence that the manufacturer will still be around to service the products glantz said analyst thomas o grady said chrysler would be getting more manufacturing capacity including a brand new plant in canada for a bargain price and renault would be getting some return after its prolonged loss making investment in amc reuter 
trade	koreans to buy billion dlrs in u s goods south korean foreign trade minister rah woon bae said his country s firms have agreed to buy billion dlrs worth of u s goods during his two week buying trip to the united states rah said most of the purchases represented shifts from japanese firms to u s firms as part of south korea s effort to reduce its seven billion dlr trade surplus with the united states south korea has a five billion dlr trade deficit with japan reuter 
crude	fitzwater says reagan strongly against tax hike white house spokesman marlin fitzwater said president reagan s record in opposing tax hikes is long and strong and not about to change we re opposed to tax increases we will fight tax increases we will deal with it politically in every forum possible said fitzwater when questioned about whether there was any change in the administration s position fitzwater said reagan s strong feelings against a tax hike included opposition to an oil import fee the president s position is that he is opposed to it he said reuter 
acq	supermarkets general sgl gets unsolicited bid supermarkets general corp said it received an unsolicited proposal from a third party to acquire the company at dlrs per share in cash supermarkets also said it retained shearson lehman brothers inc to advise its board of directors on the proposal supermarkets general currently has about mln shares outstanding its stock is currently trading at on the new york stock exchange the woodbridge n j supermarket operator of over supermarkets and other specialty retail stores convenience food stores and drug stores for the nine months ended november supermarkets reported net income of mln dlrs reuter 
acq	sharon steel corp extends exchange offer sharon steel corp said it extended from march six to march the expiration date for its debt exchange offer to allow time to complete the sale of its mueller brass co unit and to meet other conditions of the offer the exchange offer covers sharon s outstanding pct subordinated sinking fund debentures due and its pct subordinated sinking fund debentures due sharon said that as of march six pct of the pct notes and pct of the pct notes were tendered the mueller sale is conditioned on receipt of pct of the notes reuter 
ship	ferry disaster claims could top mln stg u k insurers could face more than mln stg of insurance claims following the zeebrugge ferry disaster a spokesman for lloyds of london said it could take weeks before the extent of the compensation claims for passengers crew and cargo was known and also before it was known how much if any of the ship could be salvaged said david larner of lloyds the hull and machinery of the herald of free enterprise were valued at mln stg and were insured by townsend thoresen s parent company peninsular and oriental steam navigation co plc porl l the vessel was in turn reinsured in the london market with lloyds and various other companies larner said passengers crew and cargo were insured by the standard steamship protection and indemnity association one of several shipowners mutual insurance funds worldwide these were also underwritten by lloyds and other companies larner said claims from passengers could be expected to total at least five mln stg given the number of deaths and the normal level of liability set by the athens convention of of between stg and in case of death shipping sources said however that these claims could soar if a court found there was negligence or design faults involved larner said estimates of compensation claims were pure guess work at this time but if the ship could not be salvaged the claims would total at least mln stg shares of insurances on the london stock exchange fell across the board in a generally weak market general accident fell p to royal insurance dropped p to and prudential fell p to p and o shares stood at a late p lower on the day reuter 
interest	citibank follows u k base rate cut to pct citibank na said it has cut its british base lending rate to pct from pct with effect from tomorrow this move follows similar cuts by four major british clearing banks led by national westminster bank plc nwbl l lower rates were signalled by the bank of england this morning in an attempt to curb recent upward pressure on the pound market sources said reuter 
money-fx	bank of zambia pays out foreign currency arrears the bank of zambia has paid out foreign exchange arrears from three auctions conducted last year a bank spokesman said we have now cleared three auctions and are left with only four worth eight mln dlrs the spokesman said without specifying the amount paid out the bank had not paid foreign exchange to private firms since it suspended the weekly auctions on january it has said the auctions were suspended because it planned to introduce a modified system after talks with the world bank and the international monetary fund president kenneth kaunda announced last month that the auction would be retained for allocating foreign exchange to approved private sector bidders but would not be used to determine the kwacha s exchange rate last week he said the auction had run into trouble because of a shortage of foreign exchange the government has fixed the exchange rate at nine kwacha per dollar effectively revaluing the kwacha by pct reuter 
acq	investors have pct of datarex systems drx a small investor group led by melvyn gelch a providence r i surgeon told the securities and exchange commission it has acquired shares of datarex systems inc or pct of the total outstanding common stock the gelch group said it bought the stake for about dlrs for investment purposes only reuter 
acq	investor has technology development tdcx stake leon greenblatt a chicago investor told the securities and exchange commission he has acquired shares of technology development corp or pct of the total outstanding common stock greenblatt said he bought the stock for dlrs soley as an investment and has no intention of seeking control of the company reuter 
acq	analyst says dart group likely bidder for supermarkets general 
acq	harris cuts cyclops cyl stake to pct harris associates l p a chicago investment advisory firm said it cut its stake in cyclops corp to shares or pct of the total outstanding common stock from shares or pct in a filing with the securities and exchange commission harris said it sold cyclops common shares between jan and march at prices ranging from to dlrs a share harris said its dealings in cyclops common stock were made on behalf of its advisory clients reuter 
acq	chrysler c values amc amo at mln dlrs chrysler corp said it valued its proposed buyout of american motors corp at mln dlrs not counting the effect of a contingent payment that could reach mln dlrs based on amc s future profits a chrysler spokesman told reuters that the letter of intent signed with renault amc s controlling shareholder with a pct direct stake includes a provision for renault to be paid mln dlrs in cash for amc s finance subsidiary and mln dlrs in the form of an eight pct note he said he did not know the maturity of the note reuter 
earn	advo system inc advo sees break even nd qtr advo system inc said it could report a break even second quarter ending march compared with a loss of mln dlrs or cts a share in fiscal s second quarter ended march advo said it previously announced it would report a net loss for the quarter reuter 
earn	canadian pacific ltd th qtr oper net cts vs cts 
acq	grandview acquires control of u k ticket group consolidated grandview inc said it acquired a pct stake in all ticket group plc of london for undisclosed terms the seller was also undisclosed all ticket is a special events travel company with exclusive european rights to ual inc ual s united airlines apollo system booking all united airlines flights in britain and europe all ticket and its subsidiaries will also co sponsor various events this year including the british open golf tournament and rowing s henley regatta its revenues totaled mln canadian dlrs reuter 
acq	united cities ucit makes acquisition united cities gas co said it has acquired lyle propane gas co a cairo ga propane gas distributor for undisclosed terms it said lyle has sales of about four mln gallons annually and serves about customers in seven counties in southwest georgia and north florida reuter 
interest	u s bill auctions seen at pct the u s treasury s weekly auction is expected to produce an average rate of pct for three month bills and one of pct for six month bills dealers said shortly before auction time on the new bills the rate on the outstanding three month bills was unchanged at pct bid while the rate on the six month bills was one basis point higher at pct bid reuter 
earn	medical properties mpp sets monthly dividend the board of medical properties inc said it has declared an initial monthly cash dividend of cts a share and has adopted a monthly dividend policy the initial dividend will be payable april to shareholders of record march reuter 
ship	london grain freights wheat ria luna mt norrkoping and djuron ec mexico dlrs option loading uddevalla at cents less continental reference new york grain freights of march brokers say the charterer of the saturn from us gulf to japan is reported to be nordstrom and thulin while the antigone is reported to have been arranged from tilbury to the black sea by soviet charterers reuter 
earn	immucor blud splits stock immucor inc said its board of directors has declared a five for four stock split in the form of a pct stock dividend payable april to shareholders of record march reuter 
ship	bermuda star line bsl to make acquisition bermuda star line inc said it has agreed in principle to acquire passenger ss liberte from barnstead shipping ltd for use in its new york montreal northeast passages cruises starting this summer the company said it is working to conclude a lease financing or other financing for the purchase of the ton vessel which is to be delivered in early april and renamed canada star terms were not disclosed reuter 
acq	talking point caesars world caw mts acquisition corp s dlr per share offering price for caesars world inc is thought to be much too low and is likely to attract other suitors for the hotel casino company industry analysts said i think someone else will probably come in or they mts will have to raise their bid said marvin roffman an analyst at janney montgomery scott inc mts a company formed by martin sosnoff caesars world s largest shareholder today began a tender offer valued at mln dlrs for all shares sosnoff doesn t already own i think the offer is too low by at least five points said roffman who described caesars world as the operator of one of the finest casinos in the world sosnoff a new york investor already owns pct of caesars world s mln shares following news of the tender offer caesars world s shares were trading at up a caesars world spokesman said the company was declining comment on the sosnoff move for the moment but caesars may issue a public statement after it has studied the offer roffman said caesars world has considerable growth potential and he is forecasting fiscal earnings of two dlrs per share caesars world owns casino hotels in nevada and honeymoon resorts in pennsylvania s pocono mountains it also controls caesars new jersey inc cjn which owns an atlantic city n j casino hotel for its fiscal year ended july caesars world reported net income of mln dlrs or dlrs per primary share the company reported second quarter net income of mln dlrs or cts per share compared with income of mln dlrs or cts per share a year earlier daniel lee an analyst at drexel burnham lambert inc said that although sosnoff s relatively low bid may attract other suitors willing to pay a higher price for caesars there is little likelihood that a competing bid would start a battle for the company 
acq	allegheny ag officers to run company allegheny international inc said its chairman and chief operating officer will remain in their positions following the merger of the company with an affiliate of first boston corp it is expected that oliver s travers will continue as chairman president and chief executive officer and thomas j albani will continue as chief operating officer said an allegheny spokesman allegheny today said it agreed to a buyout from first boston at dlrs per share the transaction was valued at mln dlrs its stock rose to in active trading reuter 
acq	ic gas makes no recommendation on tractebel offer imperial continental gas association icgs l ic gas said its board is not making a recommendation on the partial tender offfer at p per share announced by tractebel sa and groupe bruxelles lambert sa at the same time however the board would not recommend a general offer for all the shares at a price of p the statement added shareholders wondering whether to tender either to the tractebel consortium or to the rival p per share partial offer from shv holdings nv should consult professional advisers reuter 
acq	nat l healthcare nhci to sell five hospitals national heathcare inc said it signed an agreement to sell five rural hospitals to a private corporation for about mln dlrs including the assumption of six mln dlrs of debt the company said it plans to complete the sales which are subject to various regulatory approvals by the end of july national healthcare said it expects no material gain on loss on the sales and that substantially all proceeds will be used to reduce debt reuter 
earn	canadian pacific cp confirms earnings canadian pacific ltd said fourth quarter operating profit rose to mln dlrs or cts a share from mln dlrs or cts a share a year ago the statement confirmed released preliminary earnings figures the company released in february a mln dlr gain on the sale of cp s cominco ltd interest helped raise final fourth quarter profit to mln dlrs or cts a share the company said a drop in full year operating profit to mln dlrs from a restated mln dlrs in was due mainly to lower world oil prices the company said its cp rail division reported net income of mln dlrs compared with mln dlrs in it said grain traffic recovered from drought affected levels of a year ago but was offset by weakness in other traffic areas and increased expenses it said the net loss from its soo line increased to mln dlrs loss from mln dlrs loss in mainly due to restructuring charges canadian pacific said favorable developments during the year included reduced bulk shipping losses as a result of a recovery in tanker markets and a turnaround in the forest products sector reuter 
earn	ford f shares rise on higher earning estimate ford motor co s stock rose to after analyst maryann keller of furman selz mager dietz and birney raised earnings estimates on the company traders said keller said that she expects the company s earnings to rise to between to dlrs a share as compared to dlrs a share earned last year she said ford s already good market share is expected to remain favorable and earnings from overseas are expected to improve in addition keller said the company is selling more of its expensive model cars which are more profitable the non automotive operations including ford motor credit are also expected to post improved earnings this year keller said she expects the company to split its stock and raise its dividend to at least three dlrs a share this year she noted that chrysler corp s c announcement of a merger proposal for american motors corp amo should have no short term effect on ford but could cut into ford s share of the truck market in the long term reuter 
earn	dutch retailer ahold sees unchanged profit dutch food retailer ahold nv ahln as expects unchanged profits in but said it will take advantage of the lower dollar to expand further in the u s turnover will grow but net profits are expected to remain around the level of mln guilders due to higher dutch taxes and a three year expansion plan ahold chairman albert heijn told a news conference the profit forecast allows for a dollar rate around current levels of just over three guilders turnover and net profit in were hit by the dollar which fell to an average guilders from in reuter 
earn	pitt des moines pdm gets qualified audit pitt des moines inc said it will receive a qualified opinion from auditors on its and financial statements it said the qualification related to its inability to determine the effects if any of the final resolution of a suit filed against it by washington public power supply system the suit was dismissed in a lower court action but the ultimate outcome of the matter is still uncertain since washington public power has appealed to the u s court of appeals reuter 
acq	reading rdgc to sell philadelphia properties reading co said it has agreed in principle to convey properties it owns in and around the philadelphia convention center site to the city of philadelphia and the philadelphia convention center authority it said in exchange it will receive about mln dlrs in cash rights to acquire acres adjacent to the philadelphia international airport and an option to acquire the development rights over the gallery ii shopping mall on market street in downtown philadelphia reading said it will be responsible for the demolition and cleanup of certain of the properties for which a portion of the cash proceeds will be escrowed the company said it will continue to own and operate the reading terminal market in philadelphia the land it is giving up amounts to about seven acrease and includes part of the reading terminal train shed it said reuter 
acq	montedison acquires arco research unit montedison spa moni mi has acquired a pct stake in plant cell research institute pcri of california from atlantic richfield co arc n for several tens of millions of dollars a senior montedison executive said renato ugo a member of montedison s management committee told reporters that stanford research institute international of menlo park california had acted as a partner in the purchase itself acquiring a stake in pcri of under pct pcri based in dublin california has a biotechnology research laboratory ugo said the price paid included outlays for the laboratory technology and staff he said other negotiations were under way with biotechnology companies in the health care and diagnostics sectors through montedison s health care subsidiary erbamont nv but gave no details we hope they will be concluded by the year end he said montedison currently invests around billion lire a year in biotechnology research and expects to increase this figure to around billion lire in the next few years reuter 
ship	europe shipping exports to s africa off pct the volume of european exports to south africa carried by container line vessels has declined pct in the last two years british shipping executive antony butterwick said butterwick told reporters that despite the drop and low freight rates the shipping conference he heads will increase the frequency of sailings to south africa as a very strong act of faith and confidence in the country s future he is chairman of the europe south and south east african conference lines and joint managing director of p and o containers ltd a statement issued by the conference here said frequency of southern africa europe container service sailings is being increased from nine to seven days this is the most positive development on the shipping front between south africa and its main trading partners in europe for more than four years when the service last operated weekly it said reuter 
acq	mathematical applications sets operations sale mathematical applications group inc said it has signed a letter of intent to sell all of its operating business and will propose a plan of liquidation following the sale if the company is unsuccessful in obtaining the approvals needed for the sale and liquidation it said the company may be required to initiate reorganization proceedings under federal bankruptcy law to facilitie the distribution of its assets mathematical applications said it tentatively agreed to sell its direct marketing business to pagex inc for dlrs plus an amount equal to the working capital of the business at closing as well as a mln dlr note payable in installments over six years mathematical applications said the business working capital is estimated to be about dlrs pagex has been formed by paul a goldner the owner of pagex systems inc which is also engaged in the direct marketing computer service business mathematical applications said the tentative agreement calls for pagex to buy substantially all of the assets and liabilities related to the direct marketing business and continue to use the mathematical applications name it said the sale is also subject to renegotiation of a real estate lease and approval of a definitive agreement by the company s board stock holders and debenture holders the company said it has obtained waivers from holders of its six mln dlrs principal amount of debentures due march to defer interest payments aggregating dlrs through march the company said it will seek waivers to defer these interest payments and those due march for enough time to enable the company to accomplish the proposed sale of its operations mathematical applications said it is talking to debenture holders its landlord a lessor of equipment to the marketing operation and holders of other liabilities not being assumed by pagex to arrange distribution of assets after the proposed sale adding that these assets will be significantly less than its liabilities the company said it has obtained waivers from holders of its six mln dlrs principal amount of debentures due march to defer interest payments aggregating dlrs through march the company said it will seek waivers to defer these payments and those due march for enough time to accomplish the proposed sale of its operations mathematical applications said it is talking to debenture holders its landlord a lessor of equipment to the marketing operation and holders of liabilities pages is not assuming to arrange distribution of assets after the proposed sale adding these assets will be significantly less than its liabilities as part of the distribution of assets the company said it expects shareholders to receive an amount based on the bid price of the company s stock which was on march five reuter 
acq	financial corp fin unit completes purchase financial corp of america s american savings and loan association said it completed the previously announced purchase of retail savings branches from great western financial corp s gwf great western savings american savings said the purchases boost its deposits by about mln dlrs but do not affect its asset base reuter 
acq	johnson products jpc sells two subsidiaries johnson products co inc said it completed the sale of debbie s school of beauty culture inc and the assets of ultra precise beauty boutique inc to management it said the sale price of dlrs consisted of dlrs cash a secured promissory note for dlrs and the forgiveness of a debt of dlrs owed by johnson products to debbie s school reuter 
acq	usair u seeks two billion loan for takeovers usair group inc said it seeking two billion dlrs in bank debt to complete its takeover of piedmont aviation inc pie and its pending acquisition of ps group inc s pacific southwest airlines in a filing with the securities and exchange commission that details its proposed dlr a share cash tender offer for piedmont usair said manufacturers hanover trust co mhc indicates its willingness in a march letter to provide up to mln dlrs of the financing manufacturers hanover would also to act as agent for a bank group to raise the rest of the financing usair said usair said a manufacturers hanover affiliate is currently agent for its mln dlrs revelving credit facility which would be replaced by the proposed two billion dlr financing usair put its total cost of completing the tender offer at billion dlrs its pacific southwest takeover which has received federal approval and is due to come up for shareholder approval later this month is for dlrs a share or mln dlrs total usair said it has already bought mln piedmont common shares or pct of the total outstanding from norfolk southern corp nsc for mln dlrs the tender offer which is being made through a usair subsidiary usag acquisition corp would not be valid unless usair is left with more than half of piedmont s total outstanding common stock after the april expiration while negotiations on terms and interest rates of its bank loans are not yet complete usair said it expects them to be in the form of a one billion dlr two year term loan and a one billion dlr seven year revolving credit facility the company said it expects to repay the two year loan through equity preferred and debt offerings and possibly internal funds and the sale and or leaseback of aircraft reuter 
acq	jannock acquires pct of intercon security jannock ltd said it acquired a pct interest in intercon security ltd for five mln dlrs and intercon founders brian legge and richard grange will hold the remaining pct and will continue to manage the company intercon security employing people provides a full range of security equipment and services jannock said reuter 
crude	canadian oil companies raise crude prices petro canada the state owned oil company said it raised the contract price it will pay for crude oil canadian cts a barrel effective march six petro canada s posted price for the benchmark light sweet grade edmonton swann hills at api gravity now stands at canadian dlrs bbl their light sour grade is posted at canadian dlrs bbl earlier today shell canada shc said it raised its crude postings about canadian cts bbl bringing edmonton light sweet to canadian dlrs bbl and the light sour crude to canadian dlrs bbl imperial oil imo a a pct owned subsidiary of exxon corp said that effective march five it also raised its light sweet crude posting to canadian dlrs bbl reuter 
acq	dart group said it offers to buy supermarkets general at dlrs shr 
acq	bci holdings to sell bottled water division bci holdings corp said its beatrice u s food corp retained shearson lehman brothers inc to assist in the sale of its national bottled water business it said products of the subsidiary based in monterey park calif are sold under the arrowhead brand name in california and arizona the ozarka name in texas and the great bear name in northeastern states reuter 
grain	usda estimates ussr grain imports mln tonnes vs in feb in 
grain	usda estimates soviet grain crop at mln tonnes vs in feb year ago 
acq	dart darta makes offer for supermarkets sgl dart group corp said it offered to buy supermarkets general corp for dlrs per share in cash earlier supermarkets general said an unsolicited third party had made the offer analysts estimated the value at about billion dlrs based on mln shares outstanding kidder peabody and co inc told dart that kidder s affiliate will be prepared to advance up to mln dlrs on a subordinated basis 
acq	caesars world caw bid valued at mln dlrs mts acquisition corp said it will need about mln dlrs to acquire the caesars world inc shares not owned by its owner martin t sosnoff the estimate came in mts acquisition s proxy statement to caesars world shareholders describing its offer of dlrs a share for their stock which was announced this morning in that announcement mts acquisition said its bank and investor bankers felt they could provide financing totaling mln dlrs for the offer sosnoff is caesars world s largest shareholders with of the company s shares that is about pct of the outstanding stock on a fully diluted basis the proxy said besides being the sole owner of mts acquisition sosnoff owns pct of atalanta sosnoff capital corp s atl stock and is chairman of that investment management and brokerage firm reuter 
ship	seaman s strike continues marines unload ships brazilian marines were today working on the unloading of ships at the local port as a national strike by seamen entered its th day without signs of an agreement the halt the first national strike by seamen in years started on february and union leaders said they would not return to work unless they received a pct pay rise shipowners have offered a pct raise which the seamen rejected television reported that the port was operating at full speed but that s not true a striking seaman told reuters the marines are doing their best but they don t have the manpower nor the experience to control the situation in such a quick period he said port officials said the national halt had already caused losses estimated at mln dlrs despite the presence of marines there were no reports of incidents reuter 
crude	ecuador quake to cut oil revenues mln dlrs up to people were feared dead and more than people left homeless by thursday s earthquake which will cost ecuador close to mln dlrs in lost petroleum revenues authorities said they estimated the cost of repairing a damaged oil pipeline at mln dlrs the magnitude of the damages caused by the earthquake is gigantic president leon febres cordero said after inspecting the damages in napo the hardest hit jungle province miles from here the quake damaged km of an oil pipeline forcing this opec nation to suspend crude exports for four months president febres cordero said in a statement issued today by the presidential press office the country would lose an estimated mln dlrs in crude exports until the pipeline was repaired the president said it would cost mln dlrs to repair the pipelline which carries oil from jungle oil fields over the andes to balao a pacific ocean port crude traditionally accounts for up to two thirds of ecuador s exports the quake triggered landslides swelling the aguarico river which burst it banks carrying away homes and huts in napo province health minister jorge brancho told reuters we fear that up to people died in napo though there is no way of now knowing the exact figure because many people have disappeared he said other estimates ranged as high as dead so far corpses have been recovered bracho said information minister marco lara told reporters the number of dead and injured is not known because we do not know how many people lived in the homes hit by the landslides bracho said at least were left homeless in the cayambe district reuter 
acq	business editor theodore cross offers dlrs share for harper and row 
acq	business editor offers dlrs for harper hpr theodore cross editor of business and society review a business publication said an investor group he heads has offered to buy harper and row publishers inc for dlrs a share cash in a filing with the securities and exchange commission cross said he proposed the takeover to the board of the new york publishing house today cross whose investor group includes his wife mary said they already hold harper and row common shares or pct of the total outstanding common stock they said they have spent mln dlrs on their stake so far cross said he proposed in a letter to harper and row that the company be merged into a company cross is forming suggesting that the total cost of completing the merger would be mln dlrs cross said he would use mln dlrs of his own money for the deal and up to mln dlrs which would be borrowed from the first national bank of boston under a revolving credit facility the bank has agreed to provide 
crude	usx x unit raises some crude postings marathon petroleum company a subsidiary of usx corp x said it raised the contract price it pays for three grades of crude oil effective march illinois sweet and indiana sweet are both being raised cts a barrel to dlrs bbl and the southern michigan grade is being raised cts bbl also to dlrs a bbl the west texas intermediate grade was unchanged reuter 
earn	united brands inc th qtr shr profit six cts vs loss cts 
earn	national fuel gas nfg sets split higher payout national fuel gas co said its board has approved a two for one stock split and will consider an increased cash dividend at its june meeting the company also said management will recommend at the june board meeting an increase of cts per share in the current annual dividend rate of dlrs a share raising it to dlrs per share or dlrs a share after the split national fuel gas said the split will be paid to holders of record may a spokeswoman said the distribution date for the split has not been determined the company said the split is subject to approval of the securities and exchange commission under the public utility holding act the company now has shares outstanding reuter 
acq	sensormatic snsr ups checkrobot ckrb stake sensormatic electronics corp said it upped its investment in checkrobot inc in the form of mln dlrs of convertible preferred stock raising its stake in checkrobot to pct from pct on a fully diluted basis reuter 
ship	union shippers agree to cut n y port costs the new york shipping association and international longshoremen s association said they agreed to cut cargo assessments at the port of new york and new jersey by more than pct on some labor intensive cargos the charges on cargo handled by union workers will be reduced to dlrs a ton from dlrs a ton effective april one according to the agreement between the union and shippers the assessments are used to fund workers benefits what were doing is lowering the price to get more bulk cargo flowing through here a spokesman for the new york shipping association said 
ship	csx csx unit sets improved shipping service csx corp s sea land corp unit said it will offer improved containership services between puerto rico and the east coast and gulf coast of the united states beginning march the carrier said it will provide shorter door to door transit times more convenient cargo availability and better rail connections for traffic moving between puerto rico and north america reuter 
crude	conoco raises crude oil prices up to one dlr barrel wti at dlrs 
acq	viacom via nat l amusements seek fast merger the chiefs of viacom international inc and national amusements inc said they met and agreed to work together to complete the previously announced merger of the two companies as expeditiously as possible a spokeswoman for viacom declined to say if the executives had set a timetable for closing the deal viacom last week agreed to be acquired by national amusements for a combination of cash and stock with an estimated value of dlrs a share or a total of about billion dlrs 
earn	general cinema corp st qtr oper shr cts vs cts 
interest	bank board says mortgage rates down in february the federal home loan bank board said interest rates on both fixed rate and adjustable rate home mortgage loans were down substantially in early february the bank board said the average effective commitment rate for fixed mortgages with a maturity of at least years for new home purchases dropped to pct in early february a basis point decline from early january the commitment rate on adjustable rate mortgages declined by basis points in the same period bringing the average rate to pct the bank board said the average effective interest rate on all loans closed by major lenders declined basis points from early january to pct in early february the lowest rate since march the bank board said the average effective rate for fixed mortgages was was pct down basis points from the early january level the average effective rate for adjustable rate mortgages declined basis points to pct the bank board said reuter 
acq	noranda to spin off forest interests into separate company 
crude	api president sees options to avert oil crisis american petroleum institute president charles dibona said no options should be rejected to combat growing u s dependence on foreign oil no action should be ruled out import fees or quotas floor prices tax incentives or other alternatives while a national dialogue on the issue continues dibona said at a paper institute conference in new york today dibona said there is no unanimity within the industry on how to stimulate energy production but there is consensus on removing several government policies that hinder investments in new prospects dibona said the windfall profit tax should be abolished immediately and current proposals for increased environmental regulations on acid rain and waste disposal should be not adopted he also suggested that the arctic national wildlife refuge in alaska should be opened up for leasing to oil companies dibona said this is a battle the industry cannot afford to lose if the nation is to continue to benefit from alaskan oil dibona said since u s oil production has fallen while consumption rose and that has raised dependence on imported oil particularly from opec dibona said reuter 
interest	u s sells mo bills at pct stop pct mo pct stop pct 
acq	national distillers dr closes almaden sale national distillers and chemical corp said it completed the sale of almaden vineyards inc to heublein inc for about mln dlrs heublein a former subsidiary of rjr nabisco inc rjr was recently acquired by grand metropolitan plc almaden based in san jose calif makes and sells table wines champagnes and brandies as well as some premium wines under the charles lefranc cellars label reuter 
acq	ceasars world says it is studying unsolicited dlr per shr offer by martin sosnoff 
interest	u s bill auction rates average pct the u s treasury said its weekly auction of three month bills produced an average rate of pct with a pct rate on six month bills these rates compared with averages of pct for the three and pct for the six month bills sold last week the bond equivalent yield on three month bills was pct accepted bids ranges from pct to pct and pct of the bids at the high or stopout rate were taken for six months the yield was pct and the bids ranges from pct to pct with pct of the bids accepted the treasury said it received billion dlrs of bids for the three month bills including billion dlrs in non competitive bids from the public it accepted billion dlrs of bids including billion dlrs from the federal reserve and mln dlrs from foreign and international monetary authorities some billion dlrs in bids for six month bills were received including mln dlrs in non competitives the treasury accepted billion dlrs including billion dlrs from the fed and mln dlrs from foreign and international authorities the average price for the three month bills was and prices ranged from to the average price for the six months bills was and prices ranged from to the average yield on the three month bills was the highest since pct on feb the average yield on the six month bills was the highest since pct on feb reuter 
acq	canada mulling selling petro canada mulroney prime minister brian mulroney said the government was considering selling petro canada and the sale would proceed if it were in the national interest to do so mulroney told the house of commons assets of the huge oil company would be examined before a decision was made just as other state run companies were studied before being sold under ottawa s privatization program the government is going to examine assets of this nature to ascertain if they continue to play an appropriate role in public policy and we will make a determination as we have in other cases mulroney told the daily question period asked by opposition members to clairify finance minister michael wilson s statement on friday that petro canada no longer has any pubilic policy role mulroney said his government has long promised to sell off companies that could be better run by the private sector outside the house energy minister marcel masse said petro canada would be worth between three and four billion dlrs and because of the size could be difficult to sell he also said he would prefer to see canadians participating in any privatization but would not give any details on timing of a sale reuter 
acq	news corp nws completes purchase of newspaper the news corp said the south china morning post ltd of hong kong become a wholly owned subsidiary march as previously announced reuter 
acq	richmond hill rich riverhead end merger talks richmond hill savings bank and riverhead savings bank fsb said they terminated their previously announced merger negotiations the banks gave no reason for ending the talks which began on january reuter 
earn	general cinema gcn poor season lowers net general cinema corp said lower attendence at its theatres against last year s record christmas season lowered its first fiscal quarter operating earnings nine pct to mln dlrs while we are not off to as good a start in fiscal as we would like business has picked up in the last few weeks chairman richard smith said he said that the company expected net pricing to be higher and unit volume to improve in the remaining quarters of the fiscal year the company added that operating earnings in its theatre unit will be higher in fiscal if the important summer season film releases perform well in addition its other key business general cinema beverages is expected to achieve record operating results for the full year smith said the company s superstar video business which rents video cassettes in supermarkets continues to operate at an expected loss the company added general cinema said the financing costs associated with its purchase of mln carter hawley hale stores inc chh shares for mln dlrs and its mln sterling investment in cadbury schweppes plc lowered first quarter net but it said the loss was offset by a mln dlr gain on the sale of common shares of sea land corp a unit of csx corp csx reuter 
acq	ceasars world caw studying sosnoff offer ceasars wold inc said its board is studying the unsolicited and conditional tender offer for all its common shares at dlrs per share from martin t sosnoff a company spokesman said the board expects to make a recommendation shortly but could not specify a time period ceasars world chairman henry gluck in a statement urged shareholders not to take any action with respect to the offer prior to the board s recommendation sosnoff made the offer directly to shareholders in a newspaper advertisement through a company he formed called mts acquisition corp it expires april reuter 
earn	americus trust byu byp initial qtrly div americus trust for bristol myers shares announced an initial dividend of cts payable may for shareholders of record april reuter 
acq	united security unse to buy robert brown unit united security financial corp of illinois said it has signed a letter of intent to buy robert co brown and co inc s rcbi magic insurance group unit robert c brown and co would receive newly issued united security stock united security said it is anticipated that such stock would represent a substantial majority of the shares outstanding after the merger united security s principal subsidiary is united security life insurance co of illinois the magic group owns pilgrim life insurance co of america and middle atlantic life insurance co reuter 
acq	warrington sells shoe divisions warrington inc said it sold its shoe divisions to montreal based taurus footwear inc for undisclosed terms the divisions manufacture and distribute greb hush puppies kodiak and santana brand shoes and had revenues of about mln dlrs last year warrington said it said the sale of the shoe divisions and the previous sale of its ski boot businesses will result in an unspecified net gain warrington said it plans to concentrate on its canstar sports group inc skate and athletic footwear division the largest ice skate manufacturer and distributor in the western world warrington said it decided to rationalize the balance of its ski businesses which is expected to result in a divestment loss which could outweigh the net gains on the sales of its shoe and ski boot divisions taurus said the acquisition is expected to increase its annual sales to about mln dlrs and make it canada s largest footwear manufacturer reuter 
crude	dupont dd unit raises crude oil prices conoco inc a subsidiary of dupont corp said it was increasing its contract prices for crude oil between cts and one dlr a barrel effective today conoco said the increase brings its price for the u s benchmark crude west texas intermediate to dlrs a barrel up one dlr south louisiana sweet also up one dlr is now dlrs west texas sour was up cts to dlrs a barrel conoco was the last company to raise prices following a series of increases initiated last week by sun co sun which reversed the posted price cuts made at the end of february reuter 
grain	cbt discusses major changes for renovation chicago board of trade cbt agricultural and financial futures markets could be in for a period of major upheaval later this year if the exchange goes ahead with planned renovation a cbt spokesman told reuters the exchange was looking at a number of options to identify the most cost effective and efficient way to proceed including one which would involve moving the entire grains floor out of the building and into the nearby midamerica commodity exchange one of cbt chairman karsten mahlmann s agenda items has been to proceed with renovation in the financial futures room the spokesman said another cbt official executive vice president george sladoje said the issue would be discussed this friday at a special meeting on the exchange floor a number of presentations have been made with regard to renovating the financial futures room sladoje said we ve looked at five or six different alternatives involving such things as flip flopping the trading rooms he added it is conceivable that under a couple of these plans we might use the midamerica exchange temporarily for some cbt markets sladoje said if we move out of one floor entirely then the construction period will be about a year he said adding that the issue was likely to go to a membership vote first and then be on the drawing board for eight months to a year the cbt spokesman stressed that discussions were very preliminary at this stage and nothing was likely to begin until this summer at the earliest in order to renovate the crowded financial futures pits exchange officials have discussed providing them a temporary home next door in the present grains dominated area this could involve moving cbt markets in u s treasury bond futures treasury notes muni bonds and options on t bonds and t notes through an adjoining corridor while utilizing the midamerica floor for such cbt futures contracts as corn wheat soybeans soybean products and agricultural options any such moves could meet with opposition among some cbt members one senior floor trader said the financial futures room badly needs renovating there is talk the grains floor will shift to the midam and the financials will move to the grains area he said the cbt spokesman said another option being discussed was to renovate the financial floor in quadrants one quarter at a time the first step after deciding the most effective way to proceed would be to get architectural and engineering drawings he said he added that it was difficult at present to determine an exact time frame for any possible moves this is a major undertaking and a process that would spread out over next year he said floor traders at the midamerica commodity exchange which merged with the cbt about a year ago said they were preparing to vacate their floor at the end of this month space has recently been cleared for them at the cbt by moving its major market index pit into the area once reserved for lightly traded cbt gold and silver futures which now share their trading area the midam specializes in mini contracts in grains livestock metals financials and foreign currencies as well as some options contracts rumor has it that the cbt grains are coming over here because the bonds are too crowded one midam trader said another source at the midam said this change could take place by july or august reuter 
acq	group seeks prime medical pmsi holder list a group of investment firms led by far hills n j investor natalie koether said it is seeking information about the shareholders of prime medical services inc over which it has said it is seeking control in a filing with the securities and exchange commission the group which includes shamrock associates included a march letter to prime which asks for a complete list of all shareholders and their addresses the group said it wants the information so it can contact shareholders on issues including election of an opposition slate of directors to the board and other proxy contests the koether group s letter gives the company five days to respond to its request if there is no response from prime medical the group said it would consider the demand refused and would take other proper steps to get the information the group said it already holds prime medical shares or pct of the total it said it has taken legal action to try to force the company to set an annual meeting and require all directors to stand for election in a previous sec filing the group has said it has decided to try to seek control of prime medical through a tender offer exchange offer proxy contest or other ways reuter 
acq	grand metropolitan plc unit to sell business grand metropolitan plc said its grandmet usa inc unit decided to sell its physical fitness and exercise equipment business the company said morgan stanely and co inc is advising it on the sale of the business reuter 
acq	chrysler c amc buyout valued at billion chrysler corp s proposed acquisition of american motors corp is valued at about billion dlrs including the cost of acquisition and the mln dlrs in american motor debt that chrysler will assume analysts said they said chrysler s cost of acquisition was valued at mln dlrs paid in cash notes and chrysler shares the analysts told reuters that at a new york briefing chrysler treasurer fred zuckerman outlined his company s agreement with renault to assume amc s debt as well as mln dlrs in unfunded pension liabilities though the latter is not included valuing the transaction analysts were generally positive on chrysler s proposed purchase of its much smaller rival but said they expected the transaction would carry with it a short term dilution in chrysler s earnings a chrysler financial source speaking anonymously told reuters that the proposed purchase price was smaller than it would have been had a deal been struck last year because the impact of the new u s tax law removes chrysler s ability to assume amc s large reserve of tax loss carryforwards accumulated from its losses since there were very serious discussions last fall but we didn t pull it off the source said in a reference to the assassination in november of former renault chairman georges besse it s too bad because the tax benefits fell on the floor and renault could have gotten a much better price if we d done it before the end of last year in addition to amc s debt and its pension liabilities the source said chrysler would also assume any liability from lawsuits over the safety of jeeps which he called an overhang to the company analysts quoted chrysler officials as having told them that the deal includes payment to renault of mln dlrs principal in the form of a year note at eight pct interest mln dlrs cash for renault s equity in amc s finance subsidiary mln dlrs in cash for transaction fees in connection with the acquisition and mln dlrs worth of chrysler stock to be paid amc shareholders the big number is the mln dlrs in debt assumption analyst jack kirnan of kidder peabody and co told reuters moody s investors service inc said it may downgrade billion dlrs of chrysler corp and unit debt due to the deal but the chrysler source said that in assuming amc s liabilities his company will refinance at a lower rate any amc debt that is being carried at non market rates he said there were difficulties in negotiating with the previous renault management on the acquisition because they were committed to the group s business plan of which amc was an integral part the new management didn t have that problem amc wasn t their baby he said reuter 
acq	washington nat l wnt buys united presidential washington national corp s washington national insurance co said it bought the remaining pct of united presidential corp s upco outstanding shares at dlrs a share cash the acquisition of the shares is part of a plan of exchange approved by united presidential shareholders at a special meeting march the purchase of the remaining united presidential stake follows washington national s buying pct of united presidential in a dlrs a share tender offer which terminated december reuter 
acq	conagra cag completes merger with trident conagra inc said it completed the merger of its sea alaska products co unit and trident seafoods corp conagra said the new company in which it holds a pct stake will be called trident seafoods corp charles bundrant president of trident before the merger was named president of the new company conagra said conagra said it also completed the previously announced acquisition of bristol monarch corp and that trident completed the purchase of the remaining pct stake of san juan seafoods inc reuter 
earn	atco ltd sees gain from sale atco ltd said its atco development unit agreed to sell the canadian utilities center in edmonton alberta and the canadian western center in calgary the sales together with the previously announced sale of atco s australian operations will gross mln dlrs and result in an after tax gain of mln dlrs which will be reflected in atco s fiscal year results its fiscal year ends march the company said in addition the sales will produce mln dlrs cash after debt reduction of mln dlrs atco said reuter 
acq	lindner tells sec he has had talks with taft on seeking control of company 
acq	bancroft bcv files suit against zico bancroft convertible fund inc said it filed a lawsuit in federal court in newark n j seeking to block a hostile dlr a share takeover offer by zico investment holdings inc bancroft said the suit also names michael b javett principal officer of zico and first fidelity bancorp s ffb first fidelity bank unit the depositary for zico s offer bancroft said the suit also names georgeson and co inc zico s information agent and luthie intercontinentale inc a panamanian corporation bancroft said its complaint alleges that zico s tender offer materials include false and misleading information and that the offer violates the investment company act of the company said its stockholders approved proposals that will insure that it remains independent reuter 
acq	lindner says he discussed control of taft tfb financier carl lindner who holds a pct stake in taft broadcasting co told the securities and exchange commission he has discussed with the company the possibility of seeking control of it lindner the cincinnati ohio investor who controls american financial corp said his talks with some of taft s managers and directors have been aimed at achieving an increased ownership position in the company lindner said his increase in ownership would be made either by making an offer to acquire control of taft or taking part in a group to acquire the company lindner who holds his taft stake through american financial and its subsidiaries said he is also considering buying more taft stock on the open market or in private deals he did not say whether the talks with taft officials led to any agreements or understandings but lindner said he intends to review his investment in taft and may be involved in further talks or take other steps regarding the future control and direction of taft lindner s investor group recently raised its taft stake to shares or pct from shares or pct after buying shares for a total of mln dlrs although he recently received clearance from the federal trade commission to raise his stake in the company to pct lindner in previous sec filings has always stressed that his interest in taft was for investment only and not was not seeking to control the company an investor group headed by members of the wealthy bass family of fort worth texas also holds about pct of taft s common stock reuter 
acq	investors set deadline for japan fund jpn an investor group that includes t boone pickens iii said it set a deadline of est on march for its offer to acquire japan fund inc the group which also includes sterling grace capital management inc lp and anglo american security fund lp said it was willing to deposit in escrow japan fund shares worth about two mln dlrs to insure its ability to obtain financing if japan fund approves its offer the group said japan fund has not responded to its offer worth about mln dlrs at current market prices reuter 
acq	investor firms have pct of symbion symb a group of affiliated firms led by warburg pincus capital co l p a new york venture capital and investment partnership said it has acquired shares of symbion inc or pct of the total outstanding in a filing with the securities and exchange commission the warburg pincus group said it bought the stake for investment purposes although the group said it is considering buying more shares of symbion it said it has no plans to seek control of the company reuter 
acq	offshore investor has pct of hauserman hasr kindness n v a bahamas based firm owned by u k investor and bahamas resident john templeton said it has acquired shares of hausereman inc or pct of the total outstanding common stock in a filing with the securities and exchange commission templeton said he bought the shares for investment purposes only and has no intention of seeking control of the company reuter 
acq	investment firms up stake in mcgill mftg mgll a group of affiliated investment firms led by bermuda based fidelity international ltd and boston based fmr corp told the securities and exchange commission it raised its stake in mcgill manufacturing co inc the group said it raised its stake to shares or pct of the total outstanding common stock after buying mcgill common shares between jan and march at prices ranging from to dlrs a share reuter 
earn	cts cts increases loss cts corp said it increased its loss from continuing operations to mln dlrs from the previously announced mln dlrs loss the figure was increased to include expenses involved with its settlement of a dispute with dynamics corp of america dya the settlement involved a takeover bid for cts by dynamics corp which had offered to buy the shares of cts that it did not already own cts made a profit of mln dlrs from continuing operations in cts said it charged an additional mln dlrs in special expenses to its operations as a result of the dynamics corp settlement the additional expenses include the obligation to reimburse dynamics corp subject to approval of cts shareholders a total of mln dlrs for dynamics corp s expenses and other costs relating to cts reuter 
acq	investment firm raises certron crtn stake louart corp a los angeles investment firm said it raised its stake in certron corp to shares or pct of the total outstanding common stock from shares or pct in a filing with the securities and exchange commission louart said it bought certron shares between sept and march at a total of dlrs a share it said its dealings in certron were for investment only but said it might increase its stake it said it has no plans to seek control of the company reuter 
acq	hogan systems hogn in acquisition hogan systems inc said it acquired systems inc of durango colo for mln dlrs hogan said systems provides integrated applications software and processing services to about community banks systems has revenues of mln dlrs a year hogan said reuter 
crude	pickens sees continued slump in working rigs t boone pickens the texas oilman and financier said he believes the heady days the oil service industry had in the early s when over oil rigs were once reported operating will not return in his lifetime pickens told reuters he expects the rig count to drop to below before recovering he added that oil prices will eventually rise to dlrs then to dlrs after currently some oil rigs are operating in the u s down sharply after oil prices slipped from dlrs in late to around dlrs in prices are now around dlrs the highest number of working rigs was in december the rigs won t go back to work until the price of oil gets above dlrs he said adding that while he expects to see dlr a barrel oil he does not expect to see rigs operating in his lifetime pickens is pickens who is currently touring the country promoting his autobiography boone said he does not believe the u s should impose an oil import fee in order to stimulate the domestic oil industry reuter 
money-fx	miyazawa says paris accord helping stabilise rates finance minister kiichi miyazawa said the paris currency accord has contributed to the stability of exchange rates miyazawa told a press conference the agreement reached last month in paris by six major industrial nations to cooperate in bringing about currency stability has prevented speculative concerns from being active in money centres the decision in paris is being understood by the market he said the yen dollar exchange rate has been moving in a narrow range since finance ministers of britain canada france japan the u s and west germany reached the accord reuter 
money-fx	australian reserve bank in buying intervention the reserve bank said at local time it was offering to buy short dated government securities in the short term money market the bank s action followed its purchase of short dated government stock and six day repurchase agreements earlier in the session money market traders said the move was aimed at easing cash market interest rates which had risen on demand for funds to meet paye tax and treasury note settlement commitments reuter 
ship	search for british ferry s toxic cargo continues the search continued for a cargo of poisonous chemical substances loaded on the herald of free enterprise ferry which capsized in zeebrugge harbour friday a total of drums of various toxic materials which were loaded on trucks in the ship s hold have been recovered but belgian authorities warned it was essential to recover a further containers of a cyanide based solution a net has been thrown over the gaping loading doors at the front of the ship to prevent any more drums floating out salvage workers have moved cranes into place alongside the wreck of the ton roll on roll off ferry which now lies partly submerged on a sandbank outside the harbour the ferry s owner is european ferries plc majority owned by peninsular and oriental steam navigation co plc porl l the operation to right the vessel began yesterday after divers abandoned their search for more bodies experts said it could take months to refloat the ship and free the bodies estimated to be trapped amid debris the problem is that in these waters you can normally expect one working day out of four said daan kaakebeen of dutch salvage experts smit tak international of rotterdam he estimated the job itself would require working days using reinforced cables salvage experts intend to raise the ship and set it down into a trench dug alongside salvage work could pinpoint the exact cause of the loss of the ferry one of three sister vessels plying cross channel routes from england to continental europe suspicion at present is focused on the ferry s main vehicle loading doors set close to water level in london transport secretary john moore told parliament yesterday that the ship keeled over after water gushed in through the bow doors he said a major government inquiry into the disaster will be held all similar ferries sailing from britain will be inspected and owners will be asked to fit lights to give warning if bow doors are not properly closed experts carrying out tank and computer tests to determine how the accident occurred will focus attention on the ship s doors its ballast system and crew procedures he added two other investigations into the disaster have also begun one belgian and one by the ferry s owners reuter 
trade	soviet economist sees few gains in u s trade there is little chance soviet exports to the united states will rise in but moscow s current trade reforms should result in more trade in manufactured goods in future a soviet economist said sergey frolov chief economist at amtorg trading corp an agent for soviet trade organisations and industries told a u s ussr business meeting the soviet union produces few items that western nations want but reforms including upgrading the quality of goods and allowing joint ventures with foreign firms will encourage modest export gains in future frolov said the soviet union exported mln dlrs worth of goods to the united states in and imported billion dlrs worth he gave no trade forecast for but he said that even if all obstacles were removed total trade between the two countries would remain between two and three billion dlrs a year the post detente embargoes have taught the ussr to limit its trading with the u s he said reuter 
money-fx	china allows nationwide foreign exchange saving people throughout china can now open foreign exchange accounts at the bank of china the official shenzhen economic zone daily said previously only residents of guangdong and fujian provinces could do this the paper also said the minimum for opening a fixed deposit account had been cut to yuan equivalent from yuan the minimum for a current account is yuan equivalent the paper said depositors could now withdraw all or part of their account subject to a branch s reserves instead of only a fixed amount as previously the paper said deposits may now be opened in french francs as well as the already available u s dollar hong kong dollar sterling yen and marks bank of china branches in hainan island also accept deposits in singapore dollars and those in wenzhou zhejiang province accept deposits in dutch guilders the paper said it gave no further details reuter 
trade	economic spotlight japan pushes its chipmakers japanese microchip makers are being strong armed into compliance with a u s japan pact on semiconductors halting predatory pricing and opening japan s market to foreign chips industry analysts said but doubts remain over whether the ministry of international trade and industry miti which is pressuring the firms can successfully battle market forces and whether the u s industry is geared up to take advantage of any breathing space they said u s threats to scrap the agreement signed last september have pushed miti to try harder to get recalcitrant japanese chipmakers to abide by the pact the analysts said miti has been moving hot and heavy throughout the industry to get things done said bache securities japan associate vice president peter wolffe last month miti told chipmakers to cut production for the january to march period by pct to help dry up inexpensive chips that have escaped from japan to grey markets not subject to the pact s price controls the ministry also asked electronics firms to provide distributors with certificates designating them as authorised exporters in an effort to close loopholes through which grey marketeers sneak chips out of japan market analysts said u s trade negotiators here last week said the pact was in jeopardy because of continued dumping in non american markets and little sign of increased foreign sales in japan but major japanese firms appear to have agreed to the production cuts several analysts said last week nec corp said it would cut production in line with miti s request nec has been the most aggressive in resisting miti s demands said david keller analyst at james capel and co once nec cuts production it means they all have still pressures remain to keep production high japanese firms need high output to cut unit prices for u s sales that the commerce department assigns them under the pact the best way to lower cost is to produce more said salomon brothers asia ltd analyst carole ryavec preparations for a possible upturn in demand could also spur higher production next quarter merrill lynch analyst matt aizawa said grey marketeers may also be able to outfox any new restrictions some industry officials said it s like tax avoidance schemes said steve donovan head of mmi japan k k as soon as you close one route another opens miti s pressure has annoyed some makers who had earlier shrugged off miti guidance it s getting to be like communism said one but analysts said output cuts could help by making it easier to increase prices as planned on april and forcing firms to stop extending market share by selling at a loss they re going to have to start running their businesses like businesses bache s wolffe said miti has also been conducting a highly public campaign urging chip users to buy foreign made chips but u s industry officials said response has been mixed at best there has been some change but it s not across the board said one u s spokesman the companies have a varying degree of urgency the ultimate impact of all these efforts by miti on the troubled u s industry remains in doubt analysts added pressure to cut production of kilobit dram dynamic random access memory chips could merely speed the transition to one megabit chips where japan now leads analysts said whether u s firms are able to stage a comeback in memory chips or interested in doing so also remains unclear they said analysts are watching with interest the fate of a new u s consortium which hopes to challenge japan by developing the most advanced technology for microchip manufacturing even in the thorny area of access much depends on u s commitment as well as on japanese openness some said the sia u s semiconductor industry association doesn t even have an office here a source close to the industry said you could question just how committed they are in addition some industry analysts question the effectiveness of a bilateral agreement that leaves out third country chipmakers such as those in south korea south korea s gaining market share said one analyst they re the real winners from the agreement reuter 
interest	sumita says little room for bank of japan to further ease credit policy 
interest	sumita says little room for bank to ease policy bank of japan governor satoshi sumita said there is little room left for the central bank to further ease its credit policy as interest rates levels are now approaching their lower limit the government should instead seek ways of making the best use of its fiscal policy he told a press conference his remarks were concerned with a comprehensive economic stimulative package the government plans to adopt in the coming days at the recent talks among the six major industrialised nations in paris japan promised to work out a comprehensive economic package to boost domestic demand which in turn would help increase its imports and reduce its trade surplus sumita also said the economy will show a gradual upturn in the second half of the year if the yen remains stable he said there is caution in the foreign exchange market against a further rise of the yen and mark and this explains the recent stability in the currency markets conflicting economic indicators from the u s have also been dampening market activity he added reuter 
crude	iranian oil minister in uae talks iranian oil minister gholamreza aqazadeh is in the united arab emirates uae to discuss oil prices and the general market situation iranian officials accompanying him said he will meet uae president sheikh zaid bin sultan al nahayan and oil minister mana said al oteiba aqazadeh arrived last night after a brief stopover in riyadh where he met saudi arabia s oil minister hisham nazir the official saudi press agency quoted him as saying his talks at riyadh with nazir had been constructive and good aqazadeh said organisation of petroleum exporting countries opec members were agreed on holding production stable and he reiterated the importance of maintaining oil prices opec members agreed in december to limit production to mln barrels per day for the first half of this year and on a benchmark price of dlrs a barrel from february aqazadeh also visted opec members gabon algeria and libya the iranian news agency irna quoted him as saying before leaving tripoli that opec should do everything possible to make oil prices permanently stable reuter 
crude	saudi arabia s king fahd wants stable oil prices king fahd said today saudi arabia wants oil price stability and he called on non opec producers to avoid harmful competition with the nation group his plea in an interview with reuters and the television news agency visnews came ahead of a state visit he will make to britain later this month king fahd was asked whether saudi arabia would be prepared to reduce its oil output below its opec quota of mln barrels per day bpd to defend the dlr benchmark price agreed to by opec last december the king replied saudi arabia doesn t decide prices by itself but certainly desires price stability non opec countries must help us in a framework of common interest so that there is no type of competition which could prove harmful to everyone he said asked if he saw the dlr per barrel benchmark as a first step towards higher world oil prices king fahd said it was not for saudi arabia but for all opec countries to determine such issues iran and algeria have already called for a higher benchmark in recent weeks the dlr level has come under pressure due partly to quota violations by some opec members king fahd said saudi arabia the world s largest oil exporter was adhering to decisions made at opec s december conference which set a mln bpd output ceiling for the first half of a major non opec producer britain has so far resisted the group s pleas to curb its north sea oil output the king also urged the world community to help the palestinians return to their homeland and called for a peaceful end to the iran iraq war the year old war could not be resolved on the battlefield he said reuter 
earn	hillsdown holdings plc hldn l year shr p vs p div p vs p making p vs p adjusted for three for one capitalisation pre tax profit mln stg vs mln turnover billion vs billion tax mln vs mlnprofit attributable mln vs mln cost of sales billion vs mln gross profit mln vs mln distribution costs mln vs mln adminstrative expenses mln vs mln other operating income mln vs nil interest payable mln vs mln minority interests mln vs mln extraordinary credit sale of share in s and w berisford plc mln vs nil operating profit includes poultry eggs and animal feed mln vs mln food processing and distribution mln vs mln furniture and timber distribution mln vs mln fresh meat and bacon mln vs mln reuter 
acq	kaufhof considering taking stake in hapag lloyd west german retail group kaufhof ag kfhg f is considering taking a stake in shipping and transport group hapag lloyd ag hplg f but has yet to reach a final decision a spokesman said in response to queries press reports said kaufhof wanted a stake of up to pct in hapag lloyd the kaufhof spokesman noted any decision on purchasing shares in the shipping group would have to be approved by the supervisory board which is due to hold a meeting tomorrow late last year the gevaert group of belgium and west germany s veba ag vebg f said they had each acquired a pct stake in hapag lloyd from deutsche bank ag dbkg f and dresdner bank ag drsd f industry sources estimate deutsche and dresdner hapag lloyd s majority shareholders held about pct of hapag lloyd s share capital before selling portions of it to gevaert and veba the two banks have said they eventually wanted to reduce their stake in the shipping group to pct each reuter 
money-fx	hungary to devalue forint against western units hungary is to devalue the forint by an average of eight pct against western currencies the official news agency mti said mti did not say when the devaluation would become effective but it expected new rates to be announced later today hungary devalued the forint by a similar amount last september western bankers say the forint is more realistically valued than currencies of hungary s comecon allies reuter 
earn	hillsdown says early results encouraging hillsdown holdings plc hldn l said early results for were encouraging and the combination of its investment and acquisition strategies enabled it to look forward confidently for an excellent result for the year the company was commenting on results which showed pre tax profit rising to mln stg from mln previously on turnover that lifted to billion from billion the figures initially boosted the share price to p from p last night but they then eased back to p by gmt hillsdown said capital expenditure rose in to mln stg from mln and would continue at this high level in the placing of mln shares last year raised mln stg and enabled shareholders funds to more than double to mln at year end net borrowings were pct of shareholder s funds and the group had listed investments of mln the company said it had bought a total of companies during the year for a total price of some mln stg although these had made minor contribution to profits the real benefits would come in and beyond reuter 
earn	nippon oil sees sharply lower sales and profits nippon oil co ltd npol t predicted parent company net profit of about nine billion yen in the year ending march down pct from a year earlier president yasuoki takeuchi told a press conference current profit for the year was estimated at to billion yen down to pct from a year earlier he said takeuchi said sales are expected to fall pct to billion yen for the fifth consecutive year on year drop this year s fall was due to lower selling prices for end users which more than offset the yen s appreciation the company will retain six yen dividend for reuter 
earn	bejam group plc bjam l weeks to january shr p vs p div p vs p pre tax profit mln vs mln tax mln vs mln turnover mln vs mln note company said it was unlikely second half profits will show same rate of increase as first but it had great confidence in prospects for future growth reuter 
ship	work at chittagong port halted by strike cargo handling remains halted at bangladesh s chittagong port since nearly workers walked out on monday following a pay dispute the port workers association said today fourteen ships are stranded at the port port officials said they would meet association leaders today to try to resolve the dispute reuter 
earn	creditanstalt bankverein cabv v year cons banking gp net profit mln schillings vs mln cons banking gp balance sheet total at year end billion schillings vs billion parent bank net profit mln vs mln parent bank balance sheet total billion vs billion parent bank dividend pct vs pct parent bank div payout mln schillings vs mln reuter 
earn	ultramar net loss mln stg vs mln profit 
acq	tesco associate buys pct of hillards tesco plc tsco l said that county ltd had yesterday bought on its behalf mln shares or around pct in hillards plc for between p and p a share tesco yesterday launched a mln stg bid for the north of england supermarket chain which hillards promptly rejected hillards shares were last quoted at p compared with last night s close of p reuter 
earn	ultramar plc umar l year shr p loss vs p earnings div p making p vs p net loss mln stg vs mln profit operating profit before tax mln vs mln turnover billion vs billion cost of sales billion vs billion gross profit mln vs mln distribution costs and administrative expenses mln vs mln share of profits in associates mln vs mln other operating income mln vs mln financing charges mln vs mln tax mln vs mln exceptional items mln debit vs mln debit net results of discontinued operations mln debit vs mln debit loss on ordinary activities before minority interest mln vs mln profit minority interest mln vs mln extraordinary debits mln vs nil reuter 
earn	gkn pretax profit mln stg vs mln 
money-fx	u k money market shortage forecast at mln stg the bank of england said it forecast a liquidity shortage of around mln stg in the market today among the main factors the bank said bills maturing in official hands and the treasury bill take up would drain mln stg from the system while below target bankers balances and a rise in the note circulation would take out mln and mln stg respectively partially offsetting these exchequer transactions would add around mln stg the bank added reuter 
money-fx	belgian central bank buys currency to repay debt the belgian national bank bought foreign currencies against francs on the open market in the week ended march a bank spokesman said in line with central bank policy he declined to give any details of the amount bought the foreign currency purchased was used by the treasury to repay foreign debt and did not affect the bank s foreign exchange reserves they slipped mln francs to billion mostly due to sales of dollars for special drawing rights the spokesman said reuter 
earn	gkn plc gknl l year shr p vs p final div p making p vs p pre tax profit mln stg vs mln net profit befire minorities mln vs mln sales billion stg vs billion extraordinary debit mln vs mln trading surplus after depreciation mln stg vs mln investment and interest income mln vs mln interest payable mln vs mln profits from related companies less losses mln vs mln tax mln vs mln profit attributable to outside shareholders interests mln vs mln note extraordinary debit included charge for restructuring auto parts distribution in france and loss of mln stg on sale of steel stock business trading surplus comprised automotive components and products mln stg vs mln industrial services and supplies mln vs mln wholesale and industrial distribution mln vs mln steels and forgings four mln vs mln by region britain contributed mln stg vs mln continental europe mln vs mln u s a mln vs mln rest of world seven mln vs four mln reuter 
earn	ultramar says fourth quarter showed improvements ultramar plc umar l said that while its fourth quarter had improved from the operational point of view several special charges adversely affected results overall the year had not been a good one with upstream operations dramatically hit by the fall in crude oil prices and downstream operations also affected in the first half by large losses on inventories but margins improved in the second half and in particular refining and marketing in eastern canada showed a good recovery the company was commenting on results that showed a net loss for the year of mln stg after a mln profit in the fourth quarter charges included a mln stg provision on a retroactive price agreement recently initialled by pertamina and japanese buyers of the company s liquid natural gas and mln for the early months of its ownership of gulf canada s marketing assets ultramar said it had also included the estimated cost of a further reorganisation programme which was partly offset by a withdrawal of surplus funds from u s pension schemes and a mln stg provision for the estimated cost of selling its u s flag shipping operation the immediate outlook for crude oil prices was uncertain although it was unlikely there would be any sizeable increase in the near term however ultramar said it was optimistic prices would strengthen over the longer term its substantial reserves of crude oil and natural gas put it in a good position to benefit from any price recovery in the meantime ultramar s objectives were to improve profitability by selling or restructuring weak operations while strengthening core businesses and developing a sound operational and financial base proven probable and possible reserves at end totalled about mln barrels net on an oil equivalent basis ultramar shares firmed on the announcement to p from p at last night s close reuter 
acq	queensland press board recommends murdoch offer the queensland press ltd qpl board said it unanimously recommended the one billion dlr takeover bid by cruden investments pty ltd a family company of news corp ltd ncpa s chief executive rupert murdoch the dlrs a share cash only offer is nearly double the market price before news announced its now completed bid for the herald and weekly times ltd hwta s in early december and no other offer is likely it said in a statement independent adviser wardley australia ltd had also concluded the offer was fair and reasonable it added qpl is already owned pct by hwt reuter 
interest	belgium cuts discount rate to pct from official 
earn	preussag says payment of a dividend not certain a spokesman for preussag ag prsg f said it was not yet certain whether the company would pay a dividend on results he was commenting on a preussag statement which said results in were lower than in preussag has frequently said its results came under further pressure in following a difficult year in managing board chairman guenther sassmannshausen said in december the board would prefer to stick to its policy of not dipping into reserves to pay dividends the spokesman noted the final dividend decision rests with the supervisory board the preussag statement said results fell in compared with because declines in earnings in metals oil and shipping were not entirely compensated by positive trends in the group s other divisions the spokesman said it was not clear whether the domestic group would show a net profit in adding this would depend partly on the level of provisions preussag cut its dividend to eight marks from nine marks on results after parent company net profit dropped to mln marks from mln the year before the preussag world group made a net loss of mln marks in after a net profit of mln the year before domestic group net profit fell to mln from mln the statement said its results in were affected by unsatisfactory selling prices for metals and oil as well as by poor use of capacity in the supply ship sector the reduction in natural gas prices in the fourth quarter of to reflect earlier falls in oil prices was an additional factor behind the drop in results preussag said rationalization measures already introduced would not begin to take full effect until this year preussag s domestic group turnover rose to billion marks in from billion in helped by the first time consolidation of mln marks of turnover from its majority owned oil and gas subsidiary c deilmann ag domestic group turnover in the fourth quarter alone was billion marks it said without giving comparison figures preussag said its domestic crude oil production fell pct to tonnes in while foreign oil production rose to tonnes from tonnes preussag said its amalgamated metal corporation plc amc subsidiary whose results are included in the world group accounts made an unspecified profit in the fourth quarter of last year amc s large losses in caused principally by the international tin crisis were the reason behind the world group losses that year reuter 
crude	oil firms cut indonesian exploration spending foreign oil companies will spend less on exploration in indonesia this year than last budgeting billion dlrs for calendar against spending of billion dlrs the state oil company pertamina said actual spending last year fell short of the budgeted figure of billion dlrs as oil companies slashed expenditure because of the crash in world oil prices jumardi jukardi head of pertamina s coordinating board for foreign contractors said foreign companies will drill exploration wells and development wells this year against and last year reuter 
crude	indonesia oil contract negotiations end this month negotiations between indonesia s state oil company pertamina and foreign oil contractors on extension of the standard year production sharing contract will be concluded by the end of this month a pertamina official said jumardi jukardi head of pertamina s foreign contractors coordinating board gave no details about the outcome of the talks but pertamina president abdul rachman ramly has said priority will be given to extending contracts for companies whose exploration and production contracts expire within the next seven to years jukardi speaking to indonesian reporters said the negotiations would determine whether the production sharing split in favour of pertamina would be adhered to or altered in some cases as oil companies are asking for hardjoko seputro spokesman for the mines and energy ministry has said that president suharto has agreed in principle to extension of the standard year production sharing contract to reflect better current depressed conditions on the international oil market reuter 
money-fx	german call money eases after liquidity injection call money eased to pct from yesterday following a net injection of billion marks at a rate of pct in fresh funds from this week s securities repurchase agreement dealers said but rates were expected to rise toward the end of the week a major tax payment period by banks on behalf of customers payments for the federal railways loan stock and repayments of mark liabilities incurred by foreign central banks with the bundesbank in the framework of the european monetary system ems are likely to significantly burden the system banks built up minimum reserves today ahead of the expected outflow the bundesbank credited banks with a gross billion marks but some billion left the system at the same time as an earlier securities repurchase pact matured dealers estimated the ems related outflow as high as six billion marks the bundesbank declined to comment but a spokesman said yesterday although the funds now due may be allowed to roll over the possibility that other central banks may choose to redeem them meant a net infusion was needed dealers forecast tax payments of and billion marks but much of it is expected to burden the system only next week banks minimum reserve holdings at the bundesbank totalled billion marks on monday averaging billion over the first nine days of march dealers said although the figure was well above an expected requirement of around billion marks the expected outflow of funds was so large that banks might find it difficult to meet the requirement toward the end of march no securities repurchase agreement is expiring next week but dealers said the bundesbank could offer fresh liquidity if conditions significantly tighten the bundesbank wants to keep rates around pct one dealer said reuter 
earn	btr plc btrx l year shr p vs p div p making p vs p pretax profit mln stg vs mln turnover billion vs billion tax mln vs mln operating profit mln vs mln operating profit includes other income mln vs mln financial costs mln vs mln minorities mln vs mln earnings mln vs mln extraordinary credit mln vs mln debit reuter 
money-fx	hungary to devalue forint against western units hungary is to devalue the forint by an average of eight pct against western currencies the official news agency mti said mti did not say when the devaluation would become effective but it expected new rates to be announced later today hungary devalued the forint by a similar amount last september western bankers say the forint is more realistically valued than currencies of hungary s comecon allies reuter 
interest	sumita says little room for bank to ease policy bank of japan governor satoshi sumita said there is little room left for the central bank to further ease its credit policy as interest rates levels are now approaching their lower limit the government should instead seek ways of making the best use of its fiscal policy he told a press conference his remarks were concerned with a comprehensive economic stimulative package the government plans to adopt in the coming days at the recent talks among the six major industrialised nations in paris japan promised to work out a comprehensive economic package to boost domestic demand which in turn would help increase its imports and reduce its trade surplus sumita also said the economy will show a gradual upturn in the second half of the year if the yen remains stable he said there is caution in the foreign exchange market against a further rise of the yen and mark and this explains the recent stability in the currency markets conflicting economic indicators from the u s have also been dampening market activity he added reuter 
money-fx	bank of england does not intervene in money market the bank of england said it did not operate in the money market during the morning initially the bank forecast a liqudity shortage of some mln stg for the market today overnight interbank sterling traded at the pct level for most of the morning while period rates have eased on the strength of sterling dealers said at gmt sterling s trade weighted index was up at reuter 
interest	u s urges banks to weigh philippine debt plan the u s is urging reluctant commercial banks to seriously consider accepting a novel philippine proposal for paying its interest bill and believes the innovation is fully consistent with its third world debt strategy a reagan administration official said the official s comments also suggest that debtors pleas for interest rate concessions should be treated much more seriously by the commercial banks in cases where developing nations are carrying out genuine economic reforms in addition he signaled that the banks might want to reconsider the idea of a megabank where third world debt would be pooled and suggested the administration would support such a plan even though it was not formally proposing it at the same time however the official expressed reservations that such a scheme would ever get off the ground the philippine proposal together with argentine suggestions that exit bonds be issued to end the troublesome role of small banks in the debt strategy would help to underpin the flagging role of private banks within the plan the official said in an interview with reuters all of these things would fit within the definition of our initiative as we have asked it and we think any novel and unique approach such as those should be considered said the official who asked not to be named in october washington outlined a debt crisis strategy under which commercial banks and multilateral institutions such as the world bank and the international monetary fund imf were urged to step up lending to major debtors nations in return america called on the debtor countries to enact economic reforms promoting inflation free economic growth the multilaterals have been performing well the debtors have been performing well said the official but he admitted that the largest third world debtor brazil was clearly an exception the official who played a key role in developing the u s debt strategy and is an administration economic policymaker also said these new ideas would help commercial banks improve their role in resolving the third world debt crisis we called at the very beginning for the bank syndications to find procedures or processes whereby they could operate more effectively the official said among those ideas the official said were suggestions that commercial banks create a megabank which could swap third world debt paper for so called exit bonds for banks like regional american or european institutions such bonds in theory would rid these banks of the need to lend money to their former debtors every time a new money package was assembled and has been suggested by argentina in its current negotiations for a new loan of billion dlrs he emphasised that the megabank was not an administration plan but something some people have suggested other u s officials said japanese commercial banks are examining the creation of a consortium bank to assume third world debt this plan actively under consideration would differ slightly from the one the official described but the official expressed deep misgivings that such a plan would work in the united states if the banks thought that that was a suitable way to go fine i don t think they ever will he pointed out that banks would swap their third world loans for capital in the megabank and might then be reluctant to provide new money to debtors through the new institution meanwhile the official praised the philippine plan under which it would make interest payments on its debt in cash at no more than pct above libor the philippine proposal is very interesting it s quite unique and i don t think it s something that should be categorically rejected out of hand the official said banks which found this level unacceptably low would be offered an alternative of libor payments in cash and a margin above that of one pct in the form of philippine investment notes these tradeable dollar denominated notes would have a six year life and if banks swapped them for cash before maturity the country would guarantee a payment of point over libor until now bankers have criticised these spreads as far too low the talks now in their second week are aimed at stretching out repayments of billion dlrs of debt and granting easier terms on billion of already rescheduled debt the country which has enjoyed strong political support in washington since corazon aquino came to power early last year owes an overall billion dlrs of debt but the official denied the plan amounts to interest rate capitalisation a development until now unacceptable to the banks it s no more interest rate capitalisation than if you have a write down in the spread over libor from what existed before the official said in comments suggesting some ought to be granted the rate concessions they seek some people argue that cutting the spread is debt forgiveness what it really is is narrowing the spread on new money he added he said the u s debt strategy is sufficiently broad as an initiative to include plans like the philippines reuter 
earn	new world pictures to have gain from sale of five pct of taft broadcasting 
interest	jamaica agrees draft bank debt rescheduling jamaica agreed in principle with its bank advisory committee on a rescheduling of mln dlrs of foreign commercial bank debt falling due between and the jamaican information service said repayments on the debt will be stretched out over years with years grace at percentage points over the london interbank offered rate libor the margin on previously restructured debt also will be cut to point from the package should save jamaica about mln dlrs a year prime minister edward seaga who led the jamaican delegation called the terms very favourable to his country the agreement in principle with the bank advisory committee led by the bank of nova scotia bno to comes five days after jamaica successfully concluded a mln dlr rescheduling accord with the paris club of creditor nations that pact in turn followed the international monetary fund imf s approval on march of a mln special drawing rights standby arrangement and a mln sdr drawing under the compensatory financing facility of jamaica s foreign debt of billion dlrs only pct is owed to commercial banks and seaga yesterday reaffirmed the government s policy of not seeking new bank loans reuter m 
interest	brazil s gros to meet banks on trade line issue brazil s central bank governor francisco gros will meet senior commercial bankers here today in a new attempt to defuse the anger generated by the country s unilateral suspension of interest payments on billion dlrs of foreign commercial bank debt bankers said gros will meet representatives of citibank the head of brazil s bank advisory committee and of co heads morgan guaranty trust co and lloyds bank plc high on the agenda will be banks complaints about brazil s accompanying freeze on some billion dlrs of short term trade and interbank lines the bankers said brazil s several hundred creditor banks worldwide agreed last march to extend the credit lines until march as part of a billion dlr financing package bankers said the looming expiry of this commitment coupled with brazil s freeze raised a spate of technical and legal questions that the banks want to discuss with gros they said they face problems because of the freeze requirement that any payment due to be made by a brazilian bank under the trade facility must be deposited instead with the central bank this means foreign bankers cannot easily switch their credit lines from one borrower to another the requirement to deposit with the central bank has also meant brazilian banks have been able to negotiate lower interest rate spreads because foreign banks would rather accept a reduced margin than see their money deposited with the central bank it s caused a lot of ill will with the banking community one banker said gros is also expected to brief the banks on the results of a day tour of europe and japan that he and finance minister dilson funaro have just completed to seek official support for brazil s debt stance reuter 
earn	service resources corp src th qtr net oper shr profit five cts vs loss dlrs oper net profit vs loss sales mln vs mln avg shrs vs year oper shr profit cts vs loss dlrs oper net profit vs loss sales mln vs mln note net excludes losses from discontinued operations of dlrs vs dlrs in quarter and dlrs vs mln dlrs in year net excludes extraordinary loss dlrs in quarter and gain dlrs in year year net includes gain one mln dlrs from sale of building and gain dlrs from termination of pension plan reuter 
earn	telephone and data systems inc tds th qtr net oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs year oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs note net excludes discontinued operations gain dlrs vs loss dlrs in quarter and gain dlrs vs loss dlrs in year net both periods includes charge dlrs from repal of investment tax credits reuter 
acq	new world pictures nwp sells taft tfb stake new world pictures ltd said it sold shares or about five pct of taft broadcasting co common stock for a gain of mln dlrs the company said in a brief statement that it acquired the stock in late it gave no further details and company officials were not immediately available for comment on friday taft vice chairman dudley s taft and narragansett capital inc narr offered to acquire taft for dlrs per share dudley taft and his family have owned pct of the company an investment group leds by robert m bass one of the bass brothers of fort worth texas has been reported as owning about pct of taft stock and american financial corp chairman carl lindner has been reported to own about pct both bass and linder have acquired taft shares in recent months reuter 
trade	soviet economist sees few gains in u s trade there is little chance soviet exports to the united states will rise in but moscow s current trade reforms should result in more trade in manufactured goods in future a soviet economist said sergey frolov chief economist at amtorg trading corp an agent for soviet trade organisations and industries told a u s ussr business meeting the soviet union produces few items that western nations want but reforms including upgrading the quality of goods and allowing joint ventures with foreign firms will encourage modest export gains in future frolov said the soviet union exported mln dlrs worth of goods to the united states in and imported billion dlrs worth he gave no trade forecast for but he said that even if all obstacles were removed total trade between the two countries would remain between two and three billion dlrs a year the post detente embargoes have taught the ussr to limit its trading with the u s he said reuter 
money-fx	swiss sight deposits fall billion francs sight deposits of commercial banks at the swiss national bank fell billion swiss francs in the first days of march to billion the national bank said foreign exchange reserves rose billion francs to billion sight deposits are a major indicator of money market liquidity in switzerland the national bank said banks paid back billion francs of central bank credit taken out at the end of february for the end month liquidity requirement this drain was offset in part by new currency swaps which had the effect of increasing the national bank s foreign exchange holdings bank notes in circulation fell mln francs to billion and other deposits on call basically government funds rose billion to billion reuter 
crude	ecuador crude oil exports stopped for five months ecuador needs mln dlrs to repair the damage to its oil export pipeline caused by last week s earthquake which will stop crude exports for five months energy and mines minister javier espinosa teran said espinosa said yesterday the pipeline which carries crude from jungle fields to the pacific ocean coast of balao would be repaired with the help of texaco inc tx n and a mexican and an argentine firm president leon febres cordero said two days ago that ecuador an opec member would have to suspend crude exports for four months due to the quake oil traditionally accounts for up to two thirds of ecuador s total exports and as much as pct of government revenues deputy energy minister fernando santos alvite said ecuador would have to import six to seven mln barrels of crude oil to meet its needs until the line was repaired the ecuadorean minister at the presidency patricio quevedo told reporters that venezuela will lend ecuador five mln barrels of crude which would repaid in kind after a day period he added the caracas based andean development corp had granted a loan of mln dlrs towards repairing the pipeline km of which had been damaged in the quake in quito foreign minister rafael garcia velasco yesterday summoned ambassadors from about countries to whom he issued appeal for emergency aid for the country only three countries the u s colombia and venezuela had offered assistance reuter 
earn	southlife holding co slhc th qtr net oper shr seven cts vs cts oper net vs revs vs avg shrs vs year oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs note net excludes realized gains on investments of dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter 
crude	talking point oil services turnaround seen the oil services industry is on the verge of a recovery because of rising crude prices oil industry analysts said the analysts who issued buy recommendations on some stocks said the recovery in oil services should begin in the second half of after drilling activity bottoms out in the first half and continue into the next decade people however cannot afford to wait for drilling to go up to start buying said sandi haber sweeney senior research analyst at sanford c bernstein and co inc among the recommended buys are schlumberger ltd slb halliburton co hal dresser industries di baker international bko and mcdermott international inc mdr which may be the target of a takeover by harold simmons a dallas based investor analysts said although major oil companies are increasing exploration and development overseas they expect the pickup in oil services will begin in the u s activity in the u s is so depressed it should move up faster said vishnu sharp of goldman sachs the number of active oil drilling rigs in the u s was last week compared with rigs one year ago huges tool co ht figures show the average number of working rigs in the u s for is projected at versus in according to ike kerridge vice president of stockholder relations at hughes tool the first significant pickup in drilling activity will occur in the second half of kerridge said overseas drilling activity is expected to follow a similar pattern kerridge said halliburton is the best value said jeffrey freedman vice president at smith barney harris and upham inc adding the company controls the greatest amount of liquidity of common stock market value is diversifed in non oil field businesess and has the lowest multiple of stock price to operating cash flow including debt schlumberger is freedman s second favorite oil service stock schlumberger is expected to continue to be the dominant technical leader in the industry freedman said schlumberger s management shift asset restructuring including a pending merger of fairchild semiconductor and its considerable cash horde sets the stage for the company to maximize its significant industry advantage and capitalize on the project upturn in exploration and development activity according to a report by george gaspar first vice president at robert w baird and co inc gaspar estimates earnings per share for schlumberger at cts for and one to dlrs in compared with cts in excluding a fourth quarter special charge of billion dlrs bernstein s sandi sweeney is recommending a group of oil service companies and said choosing among them is difficult her favorite is baker international which is involved in a possible merger with hughes tool co dresser industries will also benefit from the recovery but possibly not as much as other companies because it is not a pure service company sweeney said dresser is expected to improve profitability owing to cost reductions and streamlined operations including the sale and leaseback of its headquarters said swarup reuter 
earn	creditanstalt sees higher dividend creditanstalt bankverein cabv vi is likely to raise its dividend from the payment of pct of share capital deputy general director guido schmidt chiari said the dividend was pct unchanged from the previous year and schmidt chiari noted that the parent bank s share capital had risen to billion schillings at the end of from billion a year earlier schmidt chiari made the forecast at a news conference when the bank announced a consolidated banking group net profit of mln schillings for against mln in schmidt chiari did not elaborate on his dividend forecast the banking group s consolidated balance sheet total rose to billion schillings at year end from billion general director hannes androsch said higher investment would lead to continuing growth in profits in future last year s better profits had resulted from improvements in services provided by the bank and also in profits on schilling lending schilling lending had grown last year and interest rate margins had also improved but remained unsatisfactory when compared with those in other countries he said increased provisions for possible bad debts at home and abroad particularly in latin america had lowered profits androsch said but declined to give an exact figure schmidt chiari said that foreign lending business had fallen significantly due to exchange rate fluctuations removing some billion schillings from the balance sheet total in an attempt to generate more foreign business representative offices would be opened this year in tokyo hong kong moscow and prague androsch welcomed government plans to abolish legal controls on foreigners buying voting shares and drawing dividends preference shares of state controlled creditanstalt rose eight schillings on the vienna bourse today to brokers said improved results had been widely expected by investors androsch said industrial holdings had performed better in than in previous years giving a return on investment of pct compared with pct in creditanstalt austria s largest bank holds majority interests in medium sized and large austrian companies but he forecast its biggest industrial subsidiary steyr daimler puch ag sdpv vi would return a result similar to the expected operating loss of mln schillings reuter 
acq	cpc cpc to sell unit to hi port hipt cpc international inc said it has agreed in principle to sell its peterson puritain inc subsidiary to hi port industries inc cpc said the sale is not expected to have a significant impact on its earnings and is subject to approval by boards of both companies terms were not disclosed peterson purittan is a contract packager of personal care and household products reuter 
earn	pulitzer publishing co pltzc th qtr net shr cts vs cts net vs revs mln vs mln avg shrs vs mln year shr dlrs vs dlrs net mln vs mln revs mln vs mln avg shrs mln vs mln note interest expense dlrs vs dlrs in quarter and dlrs vs dlrs in year year net reflects undisclosed amount of expenses for defense of takeover effort reuter 
acq	hughes tool says it approves revised terms for merger with baker international 
crude	opec reaffirms commitment to fixed prices ceiling opec has reaffirmed its commitment to fixed crude oil prices of around dlrs a barrel and an overall output ceiling of mln barrels per day bpd to defend prices its president rilwanu lukman said he told a news conference here after due consultation with my colleagues in opec i hereby wish to emphasize that nigeria and all member countries of opec remain determined to uphold the december agreement by adhering strictly to their various quotas and official selling prices lukman added no extraordinary opec conference was planned we are in a position to re confirm that despite misleading news in foreign media to the contrary opec member countries as a whole produced below their agreed quota in the month of february lukman who is nigerian oil minister said lukman put the overall opec output shortfall in february at bpd and said this was as a result of their firm determination to defend official selling prices of dlrs agreed upon last december in geneva the december agreement set an overall output ceiling for opec of mln bpd for first half and restored fixed prices as from february around a reference point of dlrs oil prices rallied immediately after the geneva accord but fell again last month on reports that opec was producing more than the agreed level the idea was to suggest that opec s agreement would not hold and this caused some customers to hold back purchases of opec oil and resort to destocking to meet their needs lukman said he said the bpd shortfall last february was based on the verified figure for out of opec s members adding that nigeria alone had a shortfall in production of bpd iraq disassociated itself from the december agreement while the production figures of ecuador and the united arab emirates needed to be verified lukman said if that is the price we have to pay to make the agreement succeed we are ready opec is not changing its price level of dlrs the group s president said he said the opec price differentials committee meeting formerly postponed to april had been put off indefinitely furthermore no extraordinary meeting of the conference is at the moment contemplated since most agreements reached in december are being adhered to he said asked if the committee did not need to meet soon to narrow the gaps in the prices of the various opec crudes fixed in relation to the dlr benchmark lukman replied we consider the defence of our prices much more crucial than differentials lukman said opec was aware that consumers had heavily drawn on stocks of both crude oil and refined products to levels well below this time last year and soon they would return to the market in search of crude we don t see that there is going to be any difficulty in maintaining the dlr price throughout the rest of the year lukman said the opec president praised non opec oil producers which he said had contributed to the group s efforts to stabilise prices but he criticised britain for maintaining its long held view not to do anything to help the market we are quite confident however that in the long term with two thirds of the world s reserves in opec hands the future is ours we will use that advantage responsibly he said lukman described the disruption in ecuador s output following an earthquake as tragic but refused to say if the south american country would be allowed a higher output quota when it recovered from the disaster reuter 
ship	dutch port union to meet parliamentarians today dutch port and transport union fnv is presenting its case against planned redundancies in rotterdam s general cargo sector to parliament s standing committee on social affairs today a union spokesman said with of the strong workforce on strike the union will tell the committee the government has a duty to help solve the dispute that has been disrupting the general cargo sector for more than seven weeks the spokesman added the union will also take its case against the redundancies of them planned for this year to a court in amsterdam tomorrow he added reuter 
acq	qintex again extends princeville pvdc offer qintex america ltd said it is again extending its offer of dlrs a share for mln princeville development corp shares until today from yesterday at midnight yesterday princeville shares had been tendered up from shares hours earlier qintex said it is extending the offer to allow princeville to comply with federal law restricting the ownership of u s airlines by non u s citizens and to finalize the terms and conditions of the letter of credit or bank guarantee required under the previously announced acquisition agreement reuter 
earn	novell novl sets two for one stock split novell inc said its board declared a two for one stock split payable to holders of record at the close of business on march it said shareholders at the annual meeting approved a doubling of authorized common shares to mln from mln and a limitation of directors liability reuter 
earn	heart federal hfed sets two for one split heart federal savings and loan association said its board declared a two for one stock split payable april to holders of record april the company said the split is subject to shareholder approval at the april annual meeting of an increase in authorized common shares to mln from five mln reuter 
earn	novo industri a s nvo co year pre tax income mln danish crowns vs mln sales billion crowns vs billion income after tax mln crowns vs mln earnings per crown share crowns vs dividend pct unchanged reuter 
earn	overmyer corp omco regular dividend qtly div cts vs cts in prior qtr payable march record march reuter 
earn	uniforce temporary personnel inc unfr th qtr shr cts vs cts net vs sales mln vs mln avg shrs vs year shr cts vs cts net vs sales mln vs mln avg shrs vs note share data adjusted to reflect three for two stock split effective june reuter 
money-fx	u k money market given mln stg assistance the bank of england said it gave the money market assistance worth mln stg this afternoon buying bank bills at the rates established on monday the bank bought mln stg of band one bills at pct and mln stg of band two paper at pct this is the first time that it has intervened today the bank has revised its estimate of the liquidity shortage in the market down to mln stg from mln initially reuter 
earn	pic n save corp picn th qtr net shr cts vs cts net mln vs mln sales mln vs mln year shr dlrs vs dlrs net mln vs mln sales mln vs mln note share adjusted for three for two split in june reuter 
acq	goodyear tire to receive mln dlrs for goodyear aerospace from loral corp 
acq	hughes tool ht board approves merger hughes tool co said its board voted at a special meeting last night to approve a new agreement with regulators that would allow the company to complete its proposed merger with baker international corp bko the agreement approved by the u s department of justice yesterday will give the merged company baker hughes six months instead of three to sell certain assets the pact also allows a three month extension if warranted and limits the obligation of the new company to give financial support to the businesses to be divested pending their sale the company said its board recommended that shareholders approve the merger of the oilfield service companies a previously adjourned meeting of hughes tool stockholders will be resumed this afternoon it said hughes will work with baker and the justice department towards negotiating the final form of the consent decree and filing it as soon as possible the company said in a statement closing of the merger would occur immediately after the filing it said the assets to be sold under the consent decree consist of baker s domestic oilfield drilling bit business and its domestic submersible electric pump business baker has an agreement to sell the pump business to trico industries inc tro the financial terms of the merger are unchanged a hughes spokesman said under those terms each baker common share and hughes common share would be converted into one share and of a share respectively of baker hughes inc which would be formed as a new holding company reuter 
acq	hanson trust plc unit to sell kaiser cement terminal and plant for mln dlrs 
crude	triton energy oil affiliate in canadian find triton energy corp said its pct owned canadian worldwide energy ltd affiliate s lasmo et al tableland w well in saskatchewan flowed barrels of degree gravity oil through a inch choke from depths of to feet and barrels of oil per day through a inch choke from depths of to feet triton said because of the well s status as a deep exploratory well production qualifies for a five year royalty holiday under the saskatchewan drilling incentive products it said the well s initial production is expected to be restricted to an allowable level of about barrels a day although it is capable of sustaining much higher rates the company said london and scottish marine oil plc owns a pct interest in the well and its spacing unit canadian worldwide pct saskatchewan oil and gas corp pct interprovincial pipeline ltd s home oil co ltd pct and scurry rainbow oil ltd srb pct triton said royal dutch shell group s rd sc shell canada ltd shc affiliate retains a convertible overriding interest in the well reuter 
crude	ecuador deputy minister seeks oil aid in venezuela ecuador s deputy energy minister fernando santos alvite arrived here last night for talks on further venezuelan assistance to his country s oil industry following last week s earthquake officials said ecuador was obliged to suspend crude oil exports for an expected five months as a result of damage to miles of pipeline linking its jungle oil fields with the pacific port of balao oil normally accounts for pct of its exports fellow opec member venezuela has already agreed to lend ecuador five mln barrels of crude to be repaid in kind after days to help meet its domestic consumption needs the officials could neither confirm nor deny reports that venezuela will temporarily produce ecuador s entire opec quota set at barrels per day for first half all options are open at this moment in the context of cooperation on oil production a venezuelan energy and mines ministry source said discussions are also under way to arrive at a formula to compensate ecuador for the loss in oil export revenue while the pipeline is repaired officials said santos alvite last night met venezuelan energy and mines minister arturo hernandez grisanti and will today hold talks at technical level officials said industry sources said that among the options are for venezuela to produce ecuador s entire quota or for venezuela and non opec mexico to share it and for the latter to supply ecuador s far eastern clients but the ministry source said that no decision has yet been reached on the matter and that an announcement would be made in due course santos alvite said earlier in quito that ecuador would have to import six to seven mln barrels of crude oil to meet its needs until the line was repaired ecuador energy and mines minister javier espinosa teran said last night his country needs mln dlrs to repair the damage to the export pipeline caused by the earthquake reuter 
acq	goodyear gt to receive mln dlrs for unit goodyear tire and rubber co said it will receive about mln dlrs in cash from loral corp lor for the business of goodyear aerospace corp goodyear said the previously announced acquisition by loral is expected to be completed march when loral announced the transaction january the company said it was paying mln dlrs for goodyear aerospace goodyear said the price it will receive is after adjustments for such items as pension and benefits provision allocation of liabilities and asset valuations last year goodyear aerospace had revenues of mln dlrs reuter 
earn	veba s raab karcher raises operating profit raab karcher ag a trading subsidiary of veba ag vebg f said it increased operating profit in despite a sharp decline in turnover and added there were good chances this profit level could be held in operating profit rose to just under mln marks in from around mln in however the group s third party sales fell sharply to billion marks from billion the year before largely due to lower prices for energy products particularly oil and coal managing board chairman klaus giesel told a news conference reuter 
earn	hovnanian enterprises hov splits stock hovnanian enterprises inc said its board of directors has declared a two for one split of its outstanding common stock the company said shareholders will receive one additional share for each share held at the close of business on march and additional shares will be distributed on april reuter 
acq	british aerospace raises system designers stake british aerospace plc bael l said it has increased its stake in systems designers plc to pct or mln ordinary shares following the purchase of mln ordinary shares the british aerospace pension fund holds mln ordinary shares in systems representing a stake of pct a spokesman for british aerospace said it has no present or future intention of making a full bid for systems designers system designers shares were nine pence higher at prior to the share stake announcement and have showed little movement since reuter 
earn	esselte business systems inc esb ups payout qtly div cts vs cts prior pay march record march reuter 
earn	katy industries inc kt th qtr net oper shr profit cts vs loss cts oper net profit vs loss sales mln vs mln year oper shr profit cts vs loss cts oper net profit vs loss sales mln vs mln note earnings exclude losses from discontinued consolidated operations of dlrs or eight cts a share vs dlrs or cts a share in the quarter and dlrs or dlrs a share vs dlrs or dlrs a share for the year earnings exclude a loss on the sale of discontinued consolidated operations of dlrs or three cts a share in the quarter and a loss of dlrs or cts a share vs a gain of dlrs or cts a share for the year note earnings exclude losses from discontinued unconsolidated operations of dlrs or cts a share in each period earnings exclude gain from termination of defined benefit pension plan of dlrs or eight cts a share in the quarter and dlrs or cts a share for the year reuter 
earn	pmi fund inc sets monthly dividends pmi fund inc said its board declared monthly dividends of six cts for april four cts for may five cts for june seven cts for july and six cts for august the fund which customarily omits dividends in march and september last paid six cts in february dividends declared today are payable april three may six june four july three and august six to holders of record march april may june and july reuter 
earn	merry go round enterprises inc mgre th qtr jan end shr cts vs cts net vs sales mln vs mln year shr dlrs vs dlrs net vs sales mln vs mln reuter 
earn	tenera lp tlpzv sets initial quarterly tenera lp said it will make an initial quarterly distribution of cts per unit on april to holders of record march the partnership said the dividend is greater than it had expectd to pay and was warranted by fourth quarter results and anticipated results for this year s first quarter tenera said it expects a comparable distribution for the second quarter it said about cts per share of the first quarter amount will be taxable income reuter 
acq	hanson han unit to sell kaiser terminal plant hanson industries the u s arm of hanson trust plc han said it has proposed to sell in separate transactions kaiser cement s northwest terminals and montana city plant to lone star industries inc lce and ash grove cement west inc respectively for a total of mln dlrs hanson said the deals are subject to normal conditions of closing hanson industries completed the purchase of kaiser cement on march for about mln dlrs hanson said kaiser cement is now an indirect wholly owned unit of hanson trust and forms part of its building products group these sales are a continuation of an asset redeployment program at kaiser cement and will allow kaiser to concentrate its efforts in the california marketplace where it is the largest cement producer and holds a premiere market position hanson industries chairman gordon white said reuter 
crude	ecuador official seeks oil aid in venezuela ecuador s deputy energy minister fernando santos alvite arrived here last night for talks on further venezuelan assistance to his country s oil industry following last week s earthquake officials said ecuador was obliged to suspend crude oil exports for an expected five months as a result of damage to miles of pipeline linking its jungle oil fields with the pacific port of balao oil normally accounts for pct of its exports fellow opec member venezuela has already agreed to lend ecuador five mln barrels of crude to be repaid in kind after days to help meet its domestic consumption needs reuter 
money-fx	u k money market given late help of mln stg the bank of england said it provided the money market with unspecified late assistance of around mln stg this brings its total assistance on the day to mln stg compared with a liquidity shortfall it estimated at a revised mln stg overnight interbank sterling was being offered at eight pct shortly after the bank s announcement reuter 
earn	bayer usa bayry affiliates increased sales bayer usa inc said sales of its affiliated operating cmpanies based in the u s increased in by pct from the previous year combined sales were billion dlrs up from billion dlrs in the company said however the company said net income was mln dlrs three pct below bayer said its operating companies include mobay corp miles laboratories inc agfa gevaert inc compugraphic corp haarmann and reimer corp deerfield urethane inc and helena chemical co bayer said mobay its primary chemicals company reported net income of mln dlrs up eight pct of it also said miles its pharmaceutical and healthcare company recorded net income of mln dlrs a pct increase over reuter 
earn	deb shops inc debs sets stock split deb shops inc said its board declared a pct stock dividend and will increase the quarterly dividend to four cts from cts after adjustm ent for the split the company said the split is payable april to holders of record march the dividend increase will be effective with the april payment it said reuter 
acq	continental health cthl purchases marketech continental health affiliates inc said that it has acquired marketech inc an pct partner in diatronics nutrition services continental said diantronics nutrition services is a joint venture with physicians providing patient ready home infusion therapy products and services to outpatients of five northern new jersery hospitals representing over inpatient beds continental said the terms of the deal were not disclosed reuter 
earn	visual graphics sets dividends visual graphics corp vgca vgcb said its board declared a quarterly dividend of cts per share on its class b common stock and cts per share on class a common stock payable april three to shareholders of record as of march the company set up the two classes of common stock in february previously the company had paid a cent per share quarterly dividend on one class of common stock reuter 
earn	deb shops inc debs th qtr jan net shr cts vs cts net vs sales mln vs mln year shr dlrs vs dlrs net mln vs mln sales mln vs mln reuter 
earn	regency cruises inc ship th qtr net shr profit nine cts vs loss two cts net profit vs loss revs vs avg shrs mln vs mln year shr profit cts vs loss cts net profit vs loss revs mln vs avg shrs mln vs mln note company began operations nov reuter 
earn	seaman furniture co inc seam rd qtr jan shr cts vs cts net vs sales mln vs mln avg shrs vs nine mths shr dlrs vs dlrs net mln vs sales mln vs mln reuter 
earn	novo industri earnings fall despite increased sales danish based insulin and enzymes producer novo industri a s nvo co said pre tax earnings fell almost pct in though sales rose by two pct the pre tax figure fell to mln crowns from mln in on sales increased from billion to billion giving net earnings of mln crowns against mln in earnings per crown share went from crowns to crowns but the company proposed an unchanged pct dividend foreign exchange fluctuations in were a very significant factor behind developments in the result before and after tax novo said in a statement not only the u s dollar but also other currencies essential to novo fell in in relation to the danish crown the statement added in november novo purchased pct of shares in a s ferrosan which heads a group specialising in research and development of cns central nervous treatment treatments and the sale of pharmaceuticals and vitamins in scandinavia the mln crowns paid in goodwill had a very limited effect on the result the novo statement said reuter 
earn	scs compute inc scom rd qtr jan loss shr loss cts vs loss cts net loss vs loss revs vs avg shrs mln vs mln nine mths shr loss one dlr vs loss dlrs net loss vs loss revs vs avg shrs mln vs mln reuter 
acq	securities dealer has leaseway ltc stake alpine associates a cresskill n j securities dealer told the securities and exchange commission it has acquired shares of leaseway transport corp or pct of the total outstanding common stock alpine a limited partnership said it bought the stock for mln dlrs as an investment in the ordinary course of its business as a securities dealer it left open the possibility that it might buy more leaseway stock or sell some or all of its current stake but said it has no plans to seek control of the company reuter 
earn	empire of carolina inc emp year net shr dlrs vs cts net vs revs mln vs mln avg shrs vs note results restated to include deltona corp dlt investment on equity method reuter 
earn	vhc ltd vhcl th qtr oper net oper shr profit cts vs loss one ct oper net profit vs loss revs vs na year oper shr profit cts vs loss cts oper net profit vs loss revs mln vs na avg shrs vs note excludes gains of dlrs or cts and dlrs or cts in current qtr and year respectively from benefit of tax loss carryforwards year ago excludes losses of dlrs or four cts in qtr and dlrs or eight cts in year from discontinued operations restated reuter 
earn	transtech industries inc trti year net oper shr cts vs seven cts oper net vs revs mln vs mln avg shrs vs note net excludes dlr loss from discontinued operations reuter 
earn	anova ventures sets dividend in duevel shares anova ventures corp said its board declared a dividend payable in the form of registered shares of stock in duvel corp a blind public pool anova describes itself as a publishing and financial services firm specializing in arranging revers acquisitions and mergers between blind pools shells and private companies anova said it created duvel to act as a blind pool and will seek an operating private company to merger with duvel duvel has sold common shares to a private investor group to finance expenses of registration and shares will be paid to anova stockholders as a dividend it added reuter 
acq	chrysler c deal leaves uncertainty for amc workers chrysler corp s billion dlr bid to takeover american motors corp amo should help bolster the small automaker s sales but it leaves the future of its employees in doubt industry analysts say it was business as usual yesterday at the american motors headquarters one day after the proposed merger was unveiled by chrysler and amc s french parent renault according to company spokesman edd snyder but amc s future to be discussed at a board meeting today would be radically different as a chrysler subsidiary than if it had continued with the state run french car group as its controlling shareholder industry analysts said the future of amc s car assembly plant in kenosha wis and its toledo ohio jeep plant would be in doubt if the overcapacity predicted in the north american auto industry by the early s comes to pass both plants are far from state of the art for car manufacturing sites and amc has a history of poor labor relations at each chrysler doesn t need that many new plants said michael luckey automotive analyst for the wall street firm shearson lehman brothers they probably will close the toledo plant and move jeep production to canada ronald glantz of montgomery securities said that at the very least the new owner of the toledo plant would be able to wring concessions from the united automobile workers union local representing jeep workers the uaw won t be able to hold them up for ransom as they have amc because during a down year chrysler will have underutilized facilities to transfer production he said analysts said they foresaw no major complications that would abort a combination which historians said would be the auto industry s biggest merger since american motors was formed in amc was in need of a financial savior because of its losses of more than mln dlrs since and pressures in france for renault to cut its backing the company had said it could not forecast consistent profitability until at the earliest in announcing the takeover agreement chrysler chairman lee iacocca cited amc s jeep division as well as its new mln dlr assembly plant at bramalea ontario and its network of dealers as the major attractions analysts reasoned that chrysler might feel moved eventually to sell off or close some of the older plants to cut overhead costs in view of the new debts and liabilities it would incur in the amc buyout reuter 
earn	nucor corp nue raises quarterly qtly div nine cts vs eight cts prior pay may record march reuter 
earn	kelsey hayes canada ltd year net shr dlrs vs dlrs net mln vs mln revs mln vs mln note shr restated to reflect january stock split pct owned by kelsey hayes co reuter 
earn	riggs national corp rigs sets quarterly qtly div cts vs cts prior pay april record march reuter 
acq	pacer systems to make acquisition pacer systems said it has agreed in principle to acquire the assets of sea data corp a maker of low powered electronic systems including undersea intelligent recording sensors and high density digital data recorders for one mln dlrs reuter 
earn	telephone support systems inc tssi rd qtr nov end shr four cts vs cts net vs sales vs year shr cts vs six cts net vs sales vs reuter 
earn	network video inc nvid rd qtr feb net shr one ct vs five cts net vs revs vs avg shrs vs nine mths shr four cts vs cts net vs revs vs avg shrs vs reuter 
earn	comtech inc cmtl nd qtr jan net oper shr profit one ct vs profit two cts oper net profit vs profit sales vs st half oper shr profit two cts vs loss cts oper net profit vs loss sales vs backlog mln vs mln note current year net excludes tax credits of dlrs in quarter and dlrs in half reuter 
earn	baltek corp btek th qtr net oper shr cts vs cts oper net vs revs vs year oper shr dlrs vs cts oper net vs revs mln vs mln notel net excludes tax credit dlrs vs reversal of credit dlrs in quarter and credits dlrs vs dlrs in year reuter 
acq	sahlen and associates salnu completes purchase sahlen and associates inc said it has completed the purchase of gleason securities service inc of new york and gleason plant security inc of connecticut sahlen said the deal s terms were not disclosed but added that the acquired companies had combined annual revenues of over mln dlrs sahlen a private invetigation company said the gleason companies provide security guard services to corporations in the tri state area reuter 
earn	mem co inc mem declares qtly div qtly div cts vs cts prior pay may record march reuter 
earn	insituform of north america inc insua th qtr shr nine cts vs four cts net vs revs vs avg shrs vs year oper shr cts vs cts oper net vs revs mln vs avg shrs vs note year net includes dlr tax credit reuter 
earn	major realty corp majr th qtr loss shr loss cts vs profit cts net loss vs profit revs vs year shr loss cts vs profit cts net loss vs profit revs vs reuter 
earn	nutmeg industries inc nutm year jan net shr cts net sales mln note share adjusted for five for four stock split in january backlog mln dlrs vs dlrs company began operating january reuter 
acq	henry ansbacher has pct of adams and porter inc henry ansbacher holdings plc said it has acquired a pct interest in the u s retail and general corporate insurance broker adams and porter inc the move is the first step in building a new international insurance broking group following the appointment of a new management team for its seascope insurance holdings unit ansbacher said a and p has exciting growth potential particularly on the east coast of the u s and has an annual revenue of more than four mln dlrs ansbacher shares were up p to helped by the announcement earlier today of a pretax profit rise to mln stg from mln in reuter 
earn	natwest rabo unit reports pct profit growth dutch bank f van lanschot bankiers n v co owned by national westminster plc nwbl l and rabobank b a rabn a said net profit rose pct to mln guilders on a pct higher balance sheet total of billion van lanschot bankiers is a subsidiary of van lanschot beleggingscompagnie b v in which britain s national westminster bank plc and dutch cooperative bank rabobank nederland b a each have a pct stake commercial union s dutch insurance unit delta lloyd verzekeringsgroep n v has a pct stake in van lanschot which lowered risk provisions to mln guilders 
money-fx	fed expected to add reserves the federal reserve is expected to intervene in the government securities market to add temporary reserves via customer or system repurchase agreements economists said most economists said the fed will inject reserves indirectly via customer repurchases but they added that the fed might opt for a direct injection of reserves via overnight system repurchases federal funds opened at pct and eased to pct in early trading funds averaged pct yesterday reuter 
earn	ben and jerry s homemade inc bjic th qtr net shr cts vs two cts net vs sales vs avg shrs vs year shr cts vs cts net vs sales mln vs avg shrs vs reuter 
earn	bonneville pacific corp bpco rd qtr jan shr cts vs cts net vs revs mln vs mln avg shrs vs nine mths shr cts vs cts net vs revs mln vs mln avg shrs vs reuter 
earn	jc penney jcp up on smith barney opinion j c penney co s stock rose sharply after analyst william smith of smith barney recommended the stock based on the company s strong earnings momentum and the possibility of a stock buyback dividend hike or stock split traders said i am very impressed with the strong basic earnings story analyst smith said noting that the company has fine tuned its buying and inventories and has admirably controlled costs in a time that they needed to the stock jumped to smith said the company ended with a strong cash position of about mln dlrs as compared to mln dlrs the year before this implies the possibility of a share buyback or significant dividend increase or a stock split he said in addition he said the company has been gradually adjusting its merchandise mix and its gross margins have been improving smith expects the company to earn to dlrs a share in as compared to the dlrs a share earned last year last year s results include a cent charge for the buyback of debt reuter 
interest	bankers trust co raises broker loan rate bankers trust co said it raised its broker loan rate to pct from seven pct effective immediately u s trust co which also quotes its broker loan rate publicly is posting a pct rate reuter 
acq	moore mccormack mmc to sell globe unit moore mccormack resources inc said it agreed in principle to sell its globe metallurgical inc unit to cyprus minerals co cypm for undisclosed terms the sale expected to close by mid april is subject to certain conditions including board approval at both companies globe produces silicon metals and magnesium ferrosilicon the products are used in the chemical aluminum iron rubber and semiconductor industries reuter 
acq	u s justice department reviews icahn usair filing the u s department of justice doj is reviewing whether trans world airlines inc twa and chairman carl icahn violated federal antitrust law by failing to seek advance clearance from the doj or the federal trade commission for his extensive open market purchases of usair group inc u stock a doj official told a senate panel this is a matter that is being looked into charles rule acting assistant attorney general antitrust told the senate judiciary committee s antitrust subcommittee rule declined further comment while the review was continuing rule was responding to panel chairman howard metzenbaum d ohio who had asked why the department was not acting against what appears to be a clear violation of the law metzenbaum said icahn had failed to file a pre merger notification form with the ftc prior to purchasing more than mln dlrs worth of usair stock but rule said that for airline companies a purchaser would be exempt from the requirement if it instead had filed a merger application with the u s department of transportation icahn filed such an application with the dot but the filing was thrown out by the dot on friday the dot threw out the application late friday on grounds it lacked the necessary data for the government to review the proposed usair takeover bid icahn refiled a more complete application form monday rule pledged to act against icahn and twa if a violation were found reuter 
earn	t cell sciences inc tcel rd qtr jan loss shr loss one ct vs loss cts net loss vs loss revs vs avg shrs vs nine mths shr loss seven cts vs loss cts net loss vs loss revs vs avg shrs vs reuter 
earn	mitchell energy and development corp mnd net th qtr jan shr five cts vs cts net vs mln revs mln vs mln avg shrs mln vs mln year shr cts vs dlrs net vs mln revs mln vs mln avg shrs mln vs mln reuter 
money-fx	fed sets two billion dlr customer repurchase fed says 
earn	groundwater technology inc gwti rd qtr jan shr cts vs cts net vs sales vs avg shrs vs nine mths shr cts vs cts net vs sales mln vs mln avg shrs vs reuter 
earn	seven oaks international inc qpon in payout qtly div four cts vs four cts prior pay april record march reuter 
money-fx	fed adds reserves via customer repurchases the federal reserve entered the u s government securities market to arrange two billion dlrs of customer repurchase agreements a fed spokesman said dealers said federal funds were trading at pct when the fed began its temporary and indirect supply of reserves to the banking system reuter 
earn	property trust of america ptras year net ope shr cts vs cts oper net vs revs vs mln avg shrs vs note net excludes gains from sale of investments of dlrs vs dlrs reuter 
earn	chi chi s inc chic rd qtr jan loss shr loss cts vs profit eight cts net loss mln vs profit revs mln vs mln nine mths shr loss cts vs profit cts net loss vs profit mln revs mln vs mln note current year net both periods includes mln dlr pretax charge for disposition of underperforming company owned restaurants current year net includes tax credits of dlrs in quarter and dlrs in year reuter 
acq	chemlawn corp said it is talking with new suitors about being acquired 
earn	chi chi s chic takes mln dlr charge chi chi s inc said it has taken a mln dlr pretax charge against earnings for the third quarter ended january to cover the cost of disposing of underperforming company owned restaurants the company also said it has agreed to repurchase up to three mln common shares on the open market the company now has about mln shares outstanding chi chi s today reported a loss for the third quarter ended january after the pretax charge and a dlr tax credit of mln dlrs compared with a year earlier profit of dlrs chi chi s said it believes the disposition of the restaurants has the potential of increasing its pretax earnings by about two mln dlrs next fiscal year the company said it will use existing cash resources for the share repurchases reuter 
earn	dupont dd up on recommendations shares of du pont co rose today after accumulating recommendations from shearson lehman brothers and first boston traders said du pont which opened with a two point gain stood at up first boston s analyst was not available for comment analyst theodore semegran of shearson said he raised his earnings estimates for the company to dlrs a share in and eight dlrs a share in the company earned dlrs a share in good domestic demand higher operating earnings and a strng export business probably benefitting from a lower dollar and effects of reduced imports in chemicals will continue to aid du pont he also noted that energy earnings in the first quarter are better than expected because of the rise in crude prices semegran expects first quarter earnings of about dlrs a share from dlrs last year he also expects the company to raise its annual dividend about to cts a share from its current dividend of dlrs a share and a stock split is possible but it has a low probablility reuter 
acq	chemlawn chem in talks on being acquired chemlawn corp said it has started talks on the possible sale of the company with various parties that it did not identify the company said the talks began after it considred and rejected waste management inc s wmx dlr per share tender offer for all its sharesd chemlawn gave no details on the talks reuter 
acq	shv withdraws ic gas offer shv holdings nv said it is withdrawing its take over bid for imperial continental gas association icgs l after failing to gain the minimum number of pledges sought from ic gas shareholders shv said in a statement it had sought to gain ic gas shares under a p offer for ic gas ordinary stock but was informed that level was not reached when the deadline expired the tender offer is therefore void it said shv also offered pence for every one stg nominal of ic gas loan stock under the bid made by shv united kingdom holding co ltd reuter 
earn	lord abbett and co declares mutual fund divs lord abbett value appreciation fund annual div cts vs cts prior long term capital gain vs cts prior short term capital gain cts vs cts prior pay april record march lord abbett u s government securities fund daily div cts vs cts prior pay april record april lord abbett tax free income national series daily cts vs prior pay april record april lord abbett tax free income fund ny series daily cts vs cts prior pay april record april lord abbett tax free income fund texas series daily cts vs cts prior pay april record april lord abbett california tax free income fund daily vs cts prior pay april record april reuter 
earn	associates corp of north america st qtr net qtr ended jan net mln dlrs vs mln dlrs revs mln vs mln note revs include investment and other income of mln dlrs vs mln dlrs company is wholly owned by gulf and western corp gw reuter 
earn	newport pharmaceuticals nwph rd qtr loss period ended january shr loss six cts vs profit one ct net loss vs profit revs vs avg shrs vs nine mths shre loss nine cts vs loss five cts net loss vs loss revs vs avg shrs vs note full name newport pharmaceuticals international inc reuter 
earn	the raymond corp raym declares qtly div qtly div cts vs cts prior pay march record march reuter 
acq	investor to take control of river oaks roi river oaks industries inc said it agreed in principle to give control of the company to benson seizer a new york investor in return for mln dlrs in capital the company a maker of mobile homes said it terminated merger discussions with nursing centers of america river oaks said it will place a mln dlr convertible note with seizer who in turn will name six additional members to the company s five member board one of the new directors will take over as chairman and chief executive officer river oaks said river oaks said the note will be convertible into two mln shares of its common stock at one dlr a share the company currently has mln shares outstanding the company said it will also grant seizer an option to buy an additional mln shares during the next four years at dlrs a share during the first year and dlrs a share thereafter the company said the money raised from seizer will further strengthen its balance sheet and enhance its ability to seek selective expansion opportunities seizer is experienced in turnaround situations and is expected to take direct involvement in river oaks management said charles f degroot who will remain a director of the company after giving up the post of chairman to one of seizer s board nominees don manning will cede his post as chief executive but will remain president the company said reuter 
earn	gevaert nv gevn br year consolidated group net profit billion francs vs billion net financial and operating profit billion vs mln extraordinary earnings mln vs mln net dividend francs vs reuter 
interest	national savings move points to lower u k rates u k interest rates look set to move lower even after monday s half point cut in bank base rates to pct analysts said citing as evidence the suspension of a british national savings issue yesterday the department of national savings effectively a treasury department unit yesterday suspended its nd issue launched in october and paying a high tax free pct on five year private investments between and stg a spokesman said the suspension was just a reaction to yields on national savings bonds being way out of line with the rest of the market the move was followed by a surprise sell out within minutes today of a bank of england one billion stg tap issue the second such issue in as many weeks analysts noted they said the near instant sale of the entire new gilts issue for which the bank of england had required a high pct downpayment was clear evidence that the market thought rates had to drop sooner rather than later the sale of the tranche of pct treasury bonds due occurred in an active bullish gilts market as downward pressure on money market rates remained intact with the bellwether three month interbank rate down point at pct it coincided with another strong sterling rally which pushed the pound to four year highs against the dollar that government stock disappeared very quickly indeed said stephen lewis head of economic research at stockbrokers phillips and drew it is an indication that the market believes rates are going to fall further at least by a half point immediately after the budget on march and some people hope for more stockbrokers james capel said in a comment the move by the national savings department was of considerable significance it said the real message is that the decks are being quickly cleared so as to facilitate a speedy decision by the building societies to cut their rates when the inevitable cut in bank base rates to pct materialises building societies have said a drop in bank base rates would normally have to exceed half a point to give rise to a reduction in mortgage lending rates lewis of phillips and drew said he too believed the national savings issue suspension may reflect new u k treasury policy to point building societies towards a mortgage rate cut national savings has been competing too effectively with the building societies of late building society income has been depressed in recent months he said he and other analysts said chancellor of the exchequer nigel lawson was keen to see mortgage rates fall to keep a lid on u k inflation underlying upward pressure on prices is stronger in britain than in most other western economies with inflation seen rising well above four pct this year and above five pct in after last year s pct emphasising the impact of mortgage rates on consumer prices lewis said a one point cut in building society rates would reduce inflation in britain by about pct but lewis and others noted that building societies had been complaining to the government about intense competition from national savings which they argued reduced the scope for early mortgage rate cuts the chancellor need not be worried about losing some psbr funding from national savings but he must be taking the building societies criticism to heart it looks like the national savings move reflects this one senior dealer said a savings department spokesman refused to comment on this interpretation saying the suspension of the issue was merely a reaction to the recent fall in u k interest rates which had pushed yields on national savings bonds way out of line with the rest of the market we are not politically motivated funding was just becoming too expensive and we don t need all that money he told reuters adding the department had suspended issues at least twice in the past when offered interest rates were above or below market rates he said demand for the issue had risen sharply of late as u k money market rates continued their steady decline and income was threatening to overshoot an unofficial three billion stg target set for fiscal ending march in the first months of fiscal national saving s contribution to government funding totalled billion stg compared with billion stg in the same period of the previous year official figures show figures for february out on monday are expected to show a further increase of between and mln stg pushing the total for months above target government officials said reuter 
earn	nicor inc gas regular dividend set qtly div cts vs cts previously pay may record march reuter 
earn	handleman co hdl sets quarterly qtly div cts vs cts prior pay april record march reuter 
earn	perini corp pcr sets quarterly qtly div cts vs cts prior pay june record may reuter 
acq	jones and vining said vulcan corp offers five dlrs a share for jones 
earn	international banknote co inc ibk th qtr loss oper shr loss cts vs loss cts oper net loss vs loss revs mln vs mln year oper shr profit nine cts vs profit two cts oper net profit vs revs mln vs mln note net excludes extraordinary tax charges of dlrs vs dlrs in quarter and credits dlrs vs dlrs in year year net includes pretax gain dlrs from termination of pension plan net includes pretax charge dlrs in quarter and gain dlrs in year from restructuring and consolidation quarter net includes dlr tax credit year net includes pretax gain mln dlrs from sale of foreign subsidiary reuter 
trade	ec concerned over u s textile import moves the european community ec expressed disquiet over protectionist moves in the united states to limit imports of textiles and said it would retaliate immediately if ec exports were hit a spokeswoman for the ec commission said ec external trade commissioner willy de clercq had written to his u s counterpart special u s trade representative clayton yeutter outlining the concerns of the nation community the draft legislation under consideration by congress would impose permanent quotas on products entering the u s and seek to limit any increase to a growth in the overall trade reuter 
earn	speed o print business sbm th qtr net shr loss seven cts vs profit cts net loss vs profit revs vs year shr loss cts vs profit cts net loss vs profit revs vs note results include operations of radio stations wjye fm for the full year and wnnr am for the last six months speed o print business machines corp is full name of company reuter 
earn	asbestec industries asbs sets stock split asbestec industries inc said its board declared a three for two stock split payable april record april three reuter 
earn	quaker oats co oat regular dividend qtly div cts vs cts previously pay april record march reuter 
acq	jones and vining jnsv gets vulcan vul bid jones and vining inc said vulcan corp one of its main competitors in the production of shoe lasts has offered to acquire jones and vining for five dlrs a share jones and vining said a management effort to take the company private will go ahead at dlrs per share the form of the buyout has not yet been determined and the buyout is subject to a nunber of conditions it said jones and vining said its board believes that a transaction with vulcan would be difficult to complete but it has asked vulcan for further information to explore the bid on january jones and vining said its board had recommended that shareholders aprove a management buyout at dlrs a share on february six vulcan initially offered to acquire jones and vining for five dlrs a share but jones and vining dismissed the offer as frivolous and without substance and said the bid failed to comply with provisions of the securities act of reuter 
earn	ppg industries ppg sees growth in ppg industries inc will continue to show earnings growth in despite a difficult economic climate the company said in its annual report mailed to shareholders today for the company s earnings rose five pct to mln dlrs on revenues that increased eight pct to billion dlrs earnings per share were dlrs compared with dlrs the company added that in its return on equity reached pct up from pct in and close to its goal of pct reuter 
acq	belgian minister unveils privatisation plan belgian budget minister guy verhofstadt has proposed a plan to sell off shares in several state owned enterprises including national airline sabena and the postal and telecommunications authority government sources said they said the plan could raise more than billion francs in revenue over the next five years according to verhofstadt s projections helping the government to reduce its huge budget deficit targetted this year at billion francs but the scheme had received a guarded reception from the social christian parties in belgium s centre right coalition when verhofstadt unveiled it at a cabinet meeting yesterday discussion of the plan was likely to be long and difficult the sources said verhofstadt proposes beginning the selloffs in the last quarter of with the sale of to pct of state investment company sni he expects the sale to raise three billion francs they added a pct share in sabena would be sold in mid for billion francs while pct of the postal and telecommunications authority would be sold off in two stages in mid and early raising at least seven billion francs also on verhofstadt s list are the maritime transport authority leading gas distributor distrigaz cger savings bank cger and several other credit institutions le soir daily quoted cger vice president paul henrion as expressing strong opposition to the privatisation of his bank public company we are and public company we wish to stay henrion told the paper reuter 
earn	science dynamics corp sidy year net shr cts vs cts net vs revs vs reuter 
earn	foodarama supermarkets inc fsm st qtr jan shr cts vs cts net vs sales mln vs mln notel prior year net includes pretax charge dlrs for reopening of eight stores reuter 
earn	engineering measurements co emco rd qtr net qtr ends jan shr four cts vs cts net vs revs vs nine mths shr cts vs cts net vs revs vs note excludes discontinued operations gain of dlrs in the third quarter fiscal and loss of dlrs in the nine months fiscal reuter 
earn	boothe financial corp bcmp th qtr net shr one ct vs cts net vs revs mln vs mln avg shrs mln vs mln mths shr dlrs vs dlrs net vs revs mln vs mln avg shrs mln vs mln note restated to reflect tax loss carryforwards reuter 
earn	consolidated natural gas co cng in payout qtly div cts vs cts prior pay may record april reuter 
earn	sandusky plastics inc spi sets quarterly qtly div six cts vs six cts prior pay march record march reuter 
acq	rexnord rex to sell railway equipment unit rexnord nc said it signed a definitive agreement to sell its railway maintenance equipment co subsidiary to banner industries inc terms were withheld it said railway maintenance had sales of mln dlrs and employs people rexnord said the sale is part of a major program to divest several of its businesses representing about mln dlrs in net assets still to be divested are the process machinery division with sales of mln dlrs and mathews conveyer co with sales of mln dlrs reuter 
acq	meese sees a plus in chrysler amc merger attorney general edwin meese said he saw some benefit in the proposed purchase of american motors co amo by chrysler corp c in that it would return the smallest of the u s auto manufacturers to american hands meese told the house appropriations subcommittee that consideration would be part of the justice department s review of the proposed merger he said the agency has not yet received a formal notice of the merger which would start the review process chrysler has made a billion dlr bid to buy amc from its french parent renault i think one of the things that has to be recognized in that merger is that it appears at least that a good portion of the ownership of american motors which has been in overseas hands will be put back in american hands meese told the subcommittee that may be one of the factors that would be weighed in the judgment he added renault currently holds about pct of amc reuter 
ship	dutch parliament offers little help in port row dutch members of parliament said they could do little to help resolve the dispute over redundancies in rotterdam port s general cargo sector and urged the union and employers to sort out their differences themselves both sides gave evidence to the all party standing committee on social affairs today but committee members said they saw little chance of parliamentary intervention the dispute began on january in protest at employers plans for redundancies from the strong workforce starting with this year the port and transport union fnv is to challenge the redundancies in an amsterdam court tomorrow reuter 
acq	sosnoff says caesars caw offered stock buyback martin sosnoff who has offered to buy caesars world inc for dlrs a share said senior officials of the company have offered to buy back the caesars stake he already holds now pct of the total outstanding in a filing with the securities and exchange commission sosnoff a new york investor and money manager said the offers to buy back his stock occurred on several occasions during the past year the offers were made by several caesars world representatives including its chairman henry gluck he said sosnoff said he rejected all of the proposals the caesars world official suggested various forms of payment for sosnoff s stake including other securities of the company and cash he said sosnoff did not detail the value of the proposed compensation also suggested was a deal involving put and call option regarding sosnoff s caesars world holdings he said the proposed deals would have also included a standstill agreement which would have restricted sosnoff s right to buy more caesars world stock or to take any action adverse to incumbent management he said sosnoff s report on the offers he received for his caesars world shares were amended to his official offer to purchase the company as well as reported to the sec sosnoff now holds about mln caesars world shares or pct of the company s mln shares outstanding the sosnoff offer to buy the shares of the company he does not already hold has been valued at mln dlrs reuter 
earn	for better living inc th qtr net shr profit primary cts vs loss cts shr profit diluted cts vs loss cts net profit vs loss sales mln vs mln year shr profit profit dlrs vs profit five cts shr profit diluted dlrs vs profit five cts net profit vs profit sales mln vs mln note prior qtr and year figures include gains on disposal of discontinued operations of dlrs and dlrs respectively reuter 
earn	newport electronics inc newe th qtr net oper shr loss nine cts vs loss four cts oper net loss vs loss sales vs year oper shr profit cts vs profit cts oper net profit vs profit sales mln vs mln avg shrs vs note current qtr and year figures exclude operating loss carryforward gain of dlrs vs gain of dlrs in prior year periods reuter 
earn	transco exploration partners ltd exp in payout qtly div cts vs cts prior pay june one record may eight reuter 
earn	transco energy co e sets quarterly qtly div cts vs cts prior pay june one record may eight reuter 
earn	total erickson resources ltd tlexf year net shr profit nine cts vs loss cts net profit vs loss revs vs note net includes mln dlr or nine ct a shr writedown of nine pct stake in trans canada resources ltd results reflect only six mths of mining operations due to merger of erickson gold mines ltd and total eastcan exploration ltd on june reuter 
acq	versar vsr to buy marietta ml unit versar inc said it has agreed in principle to acquire martin marietta corp s martin marietta environmental systems unit for about dlrs versar said it would use its working capital and an established life of credit to find the purchase which is subject to approval by both boards and is expected to be completed in april marietta environmental had revenues of about nine mln dlrs versar said the acquisition should have a moderately favorable effect on its earnings this year reuter 
interest	u k banks offer fixed rate mortgages at pct two major u k clearing banks announced they will offer a total of mln stg in new mortgages at a fixed interest rate of pct for the first three years below current bank base lending rates of pct midland bank plc mdbl l said it has initially allocated mln stg for home loans at this rate while lloyds bank plc lloy l will offer mln stg earlier this week midland said it would cut its standard rate of mortgage payment to pct from april following a half a percentage point reduction in leading banks base lending rates from pct building society and other bank mortgage rates are largely still well above the new base rate level although last year lloyds offered a fixed rate of pct on certain home loans a midland spokesman said his bank calculated that at the current level of billion stg its existing mortgage book accounts for about pct of the total british home loan market lloyds said it has billion stg in outstanding mortgage loans but had not estimated its total market share among other major clearing banks barclays plc bcs l and national westminister bank plc nwbl l said they had no immediate plans to announce similar fixed rate schemes reuter 
acq	jim walter jwc busy owens corning ocf plant jim walter corp said it completed the acquisition of owens corning fiberglas corp s mineral ceiling and fiberboard plant in meridian miss terms were not disclosed the plant s operations will complement existing ceiling materials production within jim walter s building material s group which last year generated income of mln dlrs on sales of mln dlrs reuter 
ship	american president aps to lease more ships american president cos ltd said its american president lines shipping subsidiary obtained final approval from u s and japanese authorities to lease four new ships from lykes bros co the move will will enable it to boost service in the pacific by pct in american president said the company said it will lease the ships for three years and hold two additional three year options it said american president lines is currently operating at capacity in the pacific and the new ships will arrive in time for the normal demand surge of the spring and summer seasons reuter 
earn	bowne and co inc bne sets stock split bowne and co inc said its board declared a two for one stock split payable may to holders of record april reuter 
acq	investment firm boosts amerford amrf stake louart corp a los angeles investment firm said it raised its stake in amerford international corp to shares or pct of the total outstanding from shares or pct in a filing with the securities and exchange commission louart said it bought amerford common shares between march and jan at prices ranging from to dlrs a share it said it bought the shares for investment purposes and might increase its stake in the future reuter 
acq	first boston fbc swiss affiliate boosts stake first boston the swiss affiliate of first boston inc said it raised its stake in the company to shares or pct of the total from shares or pct in a filing with the securities and exchange commission financiere credit suisse said it bought first boston common shares between feb and at prices ranging from to dlrs a share or mln dlrs total it said it bought the shares as part of an agreement to raise its minority stake in first boston to pct the same stake level first boston holds in financiere credit suisse reuter 
earn	numac oil and gas ltd nmc year net oper shr cts vs cts oper net vs mln revs mln vs mln note cash flow mln dlrs or cts shr vs mln dlrs or dlrs shr net excludes ct shr loss from discontinued operations gross proven and probable reserves of crude oil and natural gas liquiids mln barrels off pct from a year before reuter 
earn	farah fra again omits quarterly dividend farah inc said it omitted its quarterly common stock dividend for the second consecutive quarter the company which last paid a quarterly common dividend of cts a share in december said it will consider future dividend payments on the basis of improved profitability and cash flow farah said it expects to turn a profit for the balance of for its first quarter ended january farah lost dlrs or cts a share on sales of mln dlrs in addition farah said it received shareholder approval to change its name to farah inc from farah manufacturing co reuter 
crude	jordan petrocanada agree oil exploration project a two year project to search for oil and gas in jordan was agreed in amman by jordan s natural resources authority nra and the canadian company petrocanada international assistance corporation pciac the mln dlr assistance agreement was signed by jordan s minister of energy hisham al khatib and pciac chairman peter m towe pciac is a canadian government corporation providing assistance to countries like jordan to reduce their dependence on oil imports towe said reuter 
earn	numac oil nmc sees results improving numac oil and gas ltd said it expects significant improvement in operating performance during the company today reported earnings from continuing operations of dlrs down from mln dlrs a yuear earlier due to lower prices for crude oil and pipeline capacity constraints numac said changes introduced by federal and provincial governments during should help results reuter 
earn	h j heinz co rd qtr shr cts vs cts 
earn	h j heinz raises quarterly to cts from cts 
earn	ranchmen s resources ltd year loss shr loss seven cts vs loss dlrs net profit vs loss revs mln vs mln note current shr after preferred dividends of mln dlrs prior shr and net includes mln dlr writedown on oil properties reuter 
acq	oak industries oak to buy rexnord rex unit oak industries said it signed a definitive agreement to buy the stock of rexnord inc s railway maintenance equipment co unit for an undisclosed sum the company said railway maintenance had revenues of mln dlrs oak said the acquisition is part of its two tier strategy of buying releated and unrelated businesses oak had a tax loss carryforward of mln dlrs at the end of reuter 
earn	sumitomo bank sumi declares stock dividend sumitomo bank of california said it declared a pct stock dividend in addition to its regular quarterly cash dividend of cts per share both dividends are payable april to shareholders of record march the company said reuter 
earn	lsb bancshares inc lxbk raises payout qtly div cts vs cts prior pay april record april one reuter 
earn	h j heinz co hnz rd qtr jan net shr cts vs cts qtly div cts vs cts prior net mln vs mln revs billion vs billion nine mths shr dlrs vs dlrs net mln vs mln revs billion vs billion note dividend payable april to shareholders of record march reuter 
acq	wall street stocks tenneco inc tgt tenneco inc a company that has long been rumored to be a takeover candidate rose sharply today when speculation surfaced that investor t boone pickens may be targeting the company for an acquisition traders and analysts said tenneco spokesman joseph macrum said we have no comment to make whatsoever pickens was not available for comment traders noted that activity in the stock increased today after a published report linked pickens to tenneco tenneco rose two points to paul feretti an analyst with new orleans based howard weil labouisse friedrichs inc said he was not surprised at market rumors that tenneco might be the target of a takeover attempt it s pure market speculation that boone pickens and his group may be interested feretti said but tenneco would be a challenge to run because of its sheer size and diversity mr pickens is a man who likes a challenge pickens who made an unsuccessful attempt to take over dallas based diamond shamrock corp dia last winter has made no secret of his plans to acquire additional natural gas reserves in the belief that gas prices will stabilize sooner than oil prices tenneco holds natural gas reserves estimated in excess of trillion cubic feet analysts said feretti conservatively estimated tenneco s breakup value at dlrs a share and said the company generated a cash flow of about dlrs a share which is probably very attractive to pickens other analysts however estimate a breakup value well into the dlr a share range i strongly doubt that there is going to be any hostile takeover drexel burnham lambert inc s houston based analyst john olson said putting little credence in the rumors tenneco is a gargantuan enterprise with seven billion dlrs in long term debt and preferred stock outstanding he said the buyer would also have to deal with the intractable problems tenneco faces with its farm equipment unit and energy businesses analysts suggested that tenneco could use a number of defensive strategies to fend off an unwanted buyer such as spin off some of its non energy businesses directly to shareholders buy back shares or create a limited partnership out of its natural gas pipeline interests an analyst who asked to remain unidentified discouraged the pickens rumor pickens has a plateful already with his holdings in burlington northern and amerada hess he said i don t think he would be willing to take on tenneco s problems with case the farm equipment unit which has been losing about mln dlrs annually and is worth less than a billion dlrs on the market today reuter 
earn	software ag saga sees weak results software ag systems inc said it expects to report earnings for its third quarter substantially weaker than earnings of prior periods due to an unexpected shortfall in u s domestic license revenues for the second quarter ended november software ag earned dlrs down from dlrs a year before in last year s third quarter software ag earned dlrs reuter 
earn	miles laboratories inc th qtr net net vs sales mln vs mln year net vs sales billion vs billion note company is a subsidiary of bayer ag of west germany figures exclude miles bayvet animal health business sold jan to mobay corp another bayer ag affiliate reuter 
earn	intelligent systems mlp inp rd qtr dec net shr profit cts vs profit five cts net profit vs profit rev mln vs mln avg shares vs nine months shr profit cts vs loss cts net profit vs loss rev mln vs mln note third qtr net includes gain from discontinued operations of mln dlrs or cts a share vs or two cts a share in fiscal s third qtr nine months net includes gain from discontinued operations of mln dlrs or cts a share vs dlrs or seven cts a share in the first nine months of fiscal 
earn	shadowfax resources ltd shfxf year loss shr loss three cts vs profit cts net loss vs profit revs vs note year includes dlr writedown on utah oil and gas properties reuter 
acq	paralax vido agrees to acquire american video paralax video enterprises inc said it has agreeed to acquire american video group inc in exchange for paralax restricted common shares and three year warrants to buy restricted shares at six dlrs a share paralax said holders of some american video convertible debentures have elected to exchange them for paralax restricted common with a market value of about dlrs with that value to be determined in about days american video is a closely held company operating video rental concessions in post and base exchanges at army air force navy and coast guard installations in its most recent year the company had revenues of about mln dlrs paralax said the acquisition is scheduled to close march the company now has about mln shares outstanding reuter 
earn	kurzweil music systems inc kurm th qtr loss shr loss cts vs loss cts net loss vs loss revs vs avg shrs vs year shr loss cts vs loss dlrs net loss vs loss revs vs avg shrs vs reuter 
earn	j p morgan and co inc jpm sets quarterly dividend cts vs cts previously pay april record march reuter 
acq	bayly bayl buys majority of chutes bayly corp said it acquired pct of chutes corp a maker of denim oriented sportswear headquartered in seattle wash terms were not disclosed reuter 
earn	intelligent systems mlp inp makes cash payout intelligent systems master limited partnership said it will make a cash distribution of cts a unit in early april to unitholders of record as of march the company said continued strength in its results prompted the move intelligent systems added that if current plans to sell some of its assets as previously announced are successful it may make further distributions estimated at cts to cts a unit earlier the company reported fiscal third quarter ended december net income of mln dlrs or cts a share up from fiscal third quarter results of dlrs or five cts a share in addition it reported fiscal nine months net income of mln dlrs or cts a share versus a loss of mln dlrs or cts a share in fiscal s first three quarters reuter 
earn	kurzweil kurm has reduced work force kurzweil music systems inc said it has taken steps this year to reduce costs including a to pct reduction in its work force a spokesman said the company now has about employees it said other reductions include the use of professional services administrative costs manufacturing overhead and non essential development services adding these cuts are expected to have a significant impact beginning in the second quarter earlier today kurzweil reported a loss of cts a share compared to a loss of dlrs a share reuter 
earn	heinz hnz has higher net despite higher costs h j heinz co said net income for the third quarter rose pct despite an pct increase in marketing expenses meanwhile the company said it raised its quarterly dividend to cts a share from cts a share in part on the expectation that its tax rate under the new tax law will result in greater cash flow for the third quarter ended january heinz earned mln dlrs or cts a share up from earnings of mln dlrs or cts a share for the year ago quarter for the nine months the company posted a profit of mln dlrs or dlrs a share compared with a profit of mln dlrs or dlrs a share for the year ago period based on the company s performance for the first nine months we expect to achieve our rd consecutive year of new growth records anthony j f o reilly heinz s newly elected chairman reuter 
earn	wall street stocks ich corp ich ich corp s stock continued under pressure because of lower earnings expectations wall street analysts said the stock was down one today at and down about four since thursday when ich announced it would be reporting lower than expected fourth quarter net income the company said it would report full year net income of dlrs per share compared to dlrs per share in analysts said they had estimated net at dlrs and were now looking for at dlr to dlr range ich officials were unavailable for comment reuter 
earn	invacare corp ivcr th qtr net shr profit cts vs profit cts net profit dlrs vs profit dlrs rev mln dlrs vs mln dlrs mths shr profit cts vs loss cts net profit dlrs vs loss dlrs revs mln dlrs vs mln dlrs reuter 
earn	renaissance energy ltd year net shr cts vs cts net vs revs mln vs mln avg shrs vs reuter 
earn	invacare ivcr expects higher sales invacare corp chairman president and chief executive officer a malachi mixon iii said he expects the home healthcare equipment company to post sales increases in the to pct range in mixon said the increases should come from internal growth as well as potential acquisitions invacare is aggressively seeking acquisitions to complement the company s existing product lines mixon said earlier the company reported fourth quarter net of mln dlrs or cts a share up from mln dlrs or cts a share in s fourth quarter invacare also reported net income of mln dlrs or cts a share up from a loss of mln dlrs or cts a share in reuter 
earn	lamson and sessions co lms th qtr loss oper shr loss cts vs profit five cts oper net loss vs profit revs mln vs mln year oper shr loss cts vs profit cts oper net loss vs profit revs mln vs mln note excludes discontinued operations loss dlrs a share versus loss nine cts in the quarter and loss dlrs a share versus loss cts in the year also excludes extraordinary loss of six cts a share in the fourth quarter and gain of dlrs a share in full year also excludes full year gain of cts per share from accounting change reuter 
trade	south korea to keep trade surplus years south korean trade minister rha woong bae said his nation would maintain a trading surplus for three to five years as a way to cut its foreign debt he said in an interview with reuter that after a few years it was likely south korea would drop barriers to foreign goods and move toward a more balanced trade position he said the present trade surplus was vital if his nation was to reduce its billion dlr foreign debt rha said that was the first year south korea had a trade surplus billion dlrs against a deficit of mln dlrs rha made his remarks at the end of a two week trade mission here during which a team he led agreed to buy u s products valued at billion dlrs about mln dlrs of the purchases here were in goods of the type south korea normally bought from japan rha leaves today for ottawa for trade talks with canadian officials and businessmen asked if south korea would retaliate against u s goods if congress closed u s markets to its products he said at this moment we have no thought of retaliation south korea is a major exporter to the u s of textiles and apparel and electronic goods such as television sets video cassette records and personal computers its purchases from the united states include electronic testing equipment grains and cotton reuter 
earn	resturant associates industries inc raa th qtr shr cts vs cts shr diluted cts vs cts net vs revs mln vs mln avg shrs vs year shr cts vs cts shr diluted cts vs cts net vs revs mln vs mln avg shrs vs note results for and week periods ended january vs and week periods ended december net in both periods includes gain of dlrs from tax loss carryforward spokeswoman said average shares outstanding on a diluted basis were not available reuter 
earn	southern new england telecom sng declares div qtly div cts vs cts prior pay april record march note company s full name is southern new england telecommunications corp reuter 
earn	empire of carolina inc emp th qtr net shr cts vs cts net dlrs vs dlrs revs mln dlrs vs mln dlrs mths shr dlrs vs cts net dlrs vs dlrs revs mln dlrs vs mln dlrs note empire s investment in the deltona corp is reported on the equity method beginning the fourth qtr of amounts for and the first three qtrs of have been restated to reflect the retroactive application during the pct debentures and dlrs preferred stock were redeemed or converted resulting in common shares outstanding at december as compared to common shares outstanding at december reuter 
earn	enseco inc ncco th qtr loss oper shr loss six cts vs profit seven cts oper net loss vs profit revs vs avg shrs mln vs mln year oper shr loss six cts vs profit cts oper net loss vs profit revs mln vs mln avg shrs mln vs mln note excludes extraordinary credit of four cts a share in fourth quarter and cts in year reuter 
acq	corrected rexnord rex to sell railway unit rexnord inc said it signed a definitive agreement to sell its railway maintenance equipment co subsidiary to oak industries inc terms were withheld also participating in the agreement was banner industries inc which previously agreed to acquire rexnord railway maintenance had sales of mln dlrs rexnord said the sale is part of a major program to divest several of its businesses representing about mln dlrs in net assets still to be divested are the process machinery division with sales of mln dlrs and mathews conveyer co with sales of mln dlrs corrects mame of purchaser reuter 
acq	wall street stocks supermarkets general sgl dart group corp darta which wants to acquire supermarkets general corp for billion dlrs is not likely to give up without a fight if its target seeks another buyer arbitrageurs said speculation that dart s offer of dlrs per share could be just the beginning of a bidding contest helped supermarkets shares gain one to on mln shares one rumor had federated department stores inc fds taking a look at supermarkets general our policy is that we do not comment on any rumors or speculation of this nature a federated spokeswoman said an arbitrageur noted that dart controlled by chairman herbert h haft and his son robert last year raised its initial bid for safeway stores by approximately pct when safeway resisted however that company was later sold to a buyout group that topped the hafts if history repeats itself the hafts could raise their bid to dlrs if they are rebuffed by supermarkets general the arbitrageur said but another arbitrageur said the hafts present bid seemed quite fair he said the offer amounts to times after tax cash flow which is probably fully priced reuter 
acq	american motors amo weighs takeover proposal american motors corp said its directors met wednesday to review the takeover proposal which the corporation received monday from chrysler corp c amc said its board has retained independent investment and legal advisers and expects to meet periodically over the next several weeks on the proposal reuter 
earn	bangor hydro electric co bang sets dividend qtly div cts vs cts pay april record march reuter 
acq	kansas city southern ksu merger response kansas city southern industries inc said an attempt by santa fe southern pacific co sfx to reopen the proposed merger of the atchison topeka and santa fe railway co and the southern pacific transportation co offers nothing truly new in a letter to shippers kansas city chairman landon rowland stated this proposed merger is plainly anti competitive as found by the icc and urged by the department of justice nothing has changed landon said kansas city southern is continuing its efforts to acquire the transportation operation of santa fe railway reuter 
acq	coke affiliate to sell delaurentiis deg stake de laurentiis entertainment group inc said embassy communications a californai general partnership affiliated with coca cola co ko plans to sell its pct stake in the company in a filing with the securities and exchange commission for a secondary offering de laurentiis said embassy will offer its entire stake in the company of shares of common stock in the public sale de laurentiis said it has mln shares outstanding painewebber inc will underwrite the offering reuter 
earn	herley microwave hrly nd qtr jan net shr nine cts vs cts net vs rev mln vs four mln six months shr cts vs cts net vs rev mln vs mln note company s full name is herley microwave systems inc reuter 
acq	williams cos wmb completes sale of unit williams cos said it completed the sale of its agrico chemical co unit to freeport mcmoran resource partners l p frp for an initial mln dlrs cash the company said it will also receive an additional to mln dlrs in five years based on the operating performance of the unit it said the cash proceeds will be used to lower its debt costs reuter 
trade	south korea to maintain trade surplus years south korean trade minister rha woong bae said his nation would maintain a trading surplus for three to five years as a way to cut its foreign debt he said in an interview with reuters that after a few years it was likely south korea would drop barriers to foreign goods and move toward a more balanced trade position he said the present trade surplus was vital if his nation was to reduce its billion dlr foreign debt rha said that was the first year south korea had a trade surplus billion dlrs against a deficit of mln dlrs asked if south korea would drop its trade barriers once its foreign debt was substantially reduced he said yes i think so rha made his remarks at the end of a two week trade mission here during which a team he led agreed to buy u s products valued at billion dlrs about mln dlrs of the purchases are in goods of the type south korea normally bought from japan rha was to leave later today for ottawa for trade talks with canadian officials and businessmen he said in the interview the u s purchases were to reduce his country s billion dlr surplus with the united states and also to cut its billion dlr shortfall with japan rha said it was also due to a shift in exchange rates between the u s dollar and the yen that made it cheaper to buy u s goods than japanese goods he said south korea heavily relied on foreign trade and he hoped the leaders of major trading nations could find a way to resolve the growing trend toward protectionist legislation rha said i hope the leaders can get together to find a solution by making some mutually satisfactory concessions but he added the leaders seem hesitant to make concessions because of domestic political reasons speaking of his own country he said we have made a lot of concessions already he cited regulations permitting foreign investment in industrial firms allowing increased foreign banking activity and cracking down on piracy of intellectual property by strengthening protection of copyrights and patents rha said south korea had also lowered many of its tariffs asked if south korea would retaliate against u s goods if congress closed u s markets to its products he said at this moment we have no thought of retaliation south korea is a major exporter to the united states of textiles and apparel and electronic goods such as television sets video cassette records and personal computers its puchases from the united states include electronic testing equipment and grains and cotton the trade mission s purchases here included three boeing passenger planes for mln dlrs four mcdonnell douglas planes for mln dlrs and machinery worth mln dlrs reuter 
acq	hong kong firm ups calmat czm stake to pct industrial equity pacific ltd a hong kong investment firm said it raised its stake in calmat co to shares or pct of the total outstanding common stock from shares or 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 firm said it bought calmat common shares between feb and march for mln dlrs it has said it bought the stock for investment purposes but may raise its stake to pct reuter 
acq	paralax video vido to buy american video paralax video enterprises inc said it signed a definitive agreement to buy american video group inc for stock according to the merger proposal american video shareholders will receive about restricted paralax shares and warrants to buy another restricted shares at six dlrs a share the warrants run for three years in addition it said holders of american video convertible debentures agreed to exchange their holdings for about dlrs worth of paralax stock american video operates stores in u s military bases reuter 
earn	lamson sessions lms drops rail parts operations lamson and sessions co said it has decided to discontinue operations of youngstown steel door a maker of components and equipment for railroad freight cars the company said the unit is to be sold sometime this year so was included as discontinued operations in its results announced earlier today the company reported a loss from continuing operations of mln dlrs for the year against a profit of mln dlrs for discontinued operations it reported a loss of mln dlrs compared to a year earlier loss of dlrs reuter 
acq	rochester telephone rtc to buy canton phone rochester telephone corp said it agreed to buy canton telephone co for undisclosed terms canton serves customers in northeastern penn in it had operating revenues of about mln dlrs the company said reuter 
earn	wallace computer services inc wcs dividend qtly div cts vs cts previously pay june record june one reuter 
earn	iroquois brands ltd ibl th qtr loss oper shr loss cts vs loss cts oper net loss vs loss revs mln vs mln mths oper shr loss dlrs vs loss dlrs oper net loss vs loss revs mln vs mln note excludes gain dlrs a share versus gain cts in the quarter and gain dlrs a share versus gain dlrs in the year from discontinued and disposed operations reuter 
acq	alabama investor ups penobscot shoe pso stake donaldson bramham lee an investor from birmingham alabama said he raised his stake in penobscot shoe co to shares or pct of the total outstanding common stock from shares or pct in a filing with the securities and exchange commission lee said he bought penobscot common shares between feb and march at prices ranging from to dlrs a share lee has said he bought the penobscot stock for investment purposes only and has no plans to seek control of the company although he may buy more stock reuter 
earn	aero services aeroe sees better aero services international inc said it expects to achieve improvements in overall operations in the year ending september earlier aero reported a year end net loss of mln dlrs compared to a profit of dlrs in the company said the loss was attributable to costs associated with its acquisition costs and operating losses of nine beckett aviation fixed base operations purchased in august and discontinued weather service and flight simulator segments reuter 
earn	aero services international inc aeroe year shr loss cts vs profit cts net loss mln vs profit revs mln vs mln note net loss includes loss of mln dlrs or cts a share from discontinued operations revenues include revenues for the last eight months of beckett aviation acquired in september of year ended september reuter 
earn	vista resources inc vist th qtr net shr dlrs vs one dlr net vs revs mln vs mln mths shr dlrs vs dlrs net vs revs mln vs mln reuter 
earn	brae corp brae rd qtr dec loss shr loss dlrs vs profit two cts net loss vs profit revs mln vs mln nine mths shr loss dlrs vs loss cts net loss vs loss revs mln vs mln note includes losses from discontinued operations of dlrs vs loss dlrs in rd qtr and dlrs loss vs dlrs loss in nine mths reuter 
crude	marathon to raise crude prices cts bbl tomorrow wti to dlrs 
acq	general electric ge to sell datel unit general electric co s ge semiconductor business said it agreed to sell its datel unit to a group led by the unit s president nicolas tagaris terms were not disclosed tagaris founded the company which produces precision data acquisition conversion and control components and subsystems in he sold it to ge in reuter 
acq	trico tro sets date for acquisition vote trico industries inc said it set march as the date for a special shareholders meeting for a vote on the proposed acquisition of the company by paccar inc pcar in january the two companies announced an agreement covering a proposed acquisition by paccar of trico s approximately mln shares outstanding for eight dlrs per share in cash reuter 
acq	hughes tool shareholders approve merger with baker international 
earn	canadian gypsum co ltd year net shr dlrs vs dlrs net mln vs mln revs mln vs mln reuter 
acq	crew union sets pact with pacific southwest psg pacific southwest airlines said it reached an agreement with the southwest crew controllers association needed to satisfy conditions of usair group s u proposed acquisition of psa psa said this is the third of four unions agreement is needed with for usair s acquisition to be consummated under the agreement psa crew controllers received assurances they will be provided with labor protective provisions and a seniority integration process reuter 
earn	southernnet inc sout th qtr net shr cts vs four cts net vs revs mln vs mln year shr cts vs cts net vs revs mln vs mln reuter 
ship	senator lugar calls for cargo preference repeal the senior republican on the u s senate agriculture committee richard lugar of indiana called for repeal of the cargo preference law that aids the american shipping industry but which he said hurts farmers cargo preference is a costly special interest operated at the expense of american farmers and dockworkers lugar said in signing on as a co sponsor or cargo preference repeal legislation the law requires shipment of u s goods on american ships rather than foreign vessels which are less costly reuter 
crude	eia says distillate stocks off mln gasoline off crude off mln 
earn	sylvan learning corp slvn nine months dec shr loss cts vs profit eight cts net loss mln vs profit revs mln vs mln note net includes negative effect of accounting change of or five cts a share reuter 
crude	eia says distillate gas stocks off in week distillate fuel stocks held in primary storage fell by mln barrels in the week ended march six to mln barrels the energy information administration eia said in its weekly petroleum status report the department of energy agency said gasoline stocks were off barrels in the week to mln barrels and refinery crude oil stocks fell mln barrels to mln the eia said residual fuel stocks fell mln barrels to mln barrels and crude oil stocks in the strategic petroleum reserve spr rose barrels to mln the total of all crude refined product and spr stocks fell mln barrels to it said reuter 
interest	philippine debt talks delayed for consultations today s debt rescheduling talks between the philippines government and its bank advisory committee were postponed until thursday to give the banks more time to consider manila s novel proposal for paying part of its interest bill in notes instead of cash bankers said the committee banks met briefly earlier today and decided that they needed more time in particular to consider a news report which quoted a reagan administration official as urging that the proposal be given serious consideration the banks felt that this was new information and that further consultation was called for one banker said in a despatch yesterday from washington reuters quoted the official as saying manila s plan to pay some interest with notes that could be converted into equity investments in the philippines was fully consistent with the reagan administration strategy for handling developing country debt the philippine proposal is very interesting it s quite unique and i don t think it s something that should be categorically rejected out of hand the official said because of the key role the u s plays in the debt crisis foreign banks in particular wanted time to analyze the significance of the policymaker s comments bankers said reuter 
acq	harper and row gets bid from harcourt brace jovanovich for dlrs shr 
acq	hughes ht approves merger with baker bko an overwhelming majority of hughes tool co shareholders approved a merger agreement with baker international corp based on revised terms that allow the companies additional time to sell a drilling bit business as required by the u s justice department hughes chairman william kistler said the revised terms of the proposed consent decree also set a mln dlr cap on how much funding the newly combined companies will have to spend on the disputed drilling bit business until it is sold an earlier proposed consent decree did not establish a funding limit the baker hughes merger which would would create a billion dlr oilfield services company almost fell through earlier this month when hughes balked at terms of a proposed justice department consent decree that would have given the companies only three months to find a buyer for the reed business baker said today it would withdraw the one billion dlr lawsuit it had filed to force hughes to follow through with the merger hughes kistler speaking to reporters after pct of hughes shareholders approved the merger said the revised terms of the agreement give the companies six months to find a buyer for the reed drilling bit business the previous agreement had proposed a three month period kistler said the the government had also indicated it would consider granting if necessary an additional three month extension to complete the sale he said there were several people looking at the domestic drilling bit business the companies kistler said have also decided to voluntarily sell a reed plant in singapore kistler estimated that the merger which should be completed in about two weeks will result in annual cost savings of about mln dlrs he said he expects substantial cutbacks in the member workforce at baker hughes inc the name the merged company will take kistler said the cost savings and greater efficiencies should put the company on a profitable course we think that in the third or fourth quarter after the merger we should see something close to breakeven he said in the fourth quarter of hughes earned mln dlrs on sales of mln dlrs baker in its first fiscal quarter ended december lost mln dlrs on revenues of mln dlrs reuter 
crude	usx x unit to raise most crude postings usx s subsidiary marathon petroleum co said it will raise its contract prices for eleven grades of crude oil cts a barrel effective tomorrow the increase brings marathon s posted price for west texas intermediate and west texas sour grades to dlrs a barrel the light louisiana grade was also raised cts to dlrs a barrel reuter 
earn	dollar general corp dolr th qtr net shr cts vs cts net vs revs mln vs mln year shr cts vs cts net vs mln revs mln vs mln reuter 
acq	broad acquires vogt and conant unit broad corp said it acquired the construction activities of vogt and conant co of cleveland the combined companies to be called broad vogt and conant inc will be the largest structural steel erection company in the u s combined sales of the two operations were more than mln dlrs in reuter 
acq	harper hpr gets bid from harcourt hbj harper and row publishers inc said it received an acquisition offer from harcourt brace jovanovich inc to acquire all of harper and row s shares at dlrs a share in cash harper said it will consider the proposal including such possible concerns as anti trust and other legal considerations on monday harper and row received a surprise dlr a share bid from investor theodore cross owner of six pct of the shares for the stock he does not own harcourt made clear in its offer that it will step aside if harper s directors and shareholders reject the bid harper said harper said the board has previously expressed a strong determination to remain an independent publishing enterprise harper also said that new world pictures a shareholder has requested a copy of harper s shareholder list to be used in soliciting proxies new world has shares of the total mln shares harper and row s stock closed off to after rising points yesterday shareholders are due to vote april on a shareholders rights plan designed to thwart hostile takeovers ivan obolensky an analyst with the investment banking for of sterling grace and co said harper and row is one of the few remaining independent publishers with a back list of authors stretching back years he said as long as the company maintains copyrights with the estates of deceased authors it controls all motion picture and television rights to the stories and he said new printing technologies make new editions a profitable business harcourt brace needs a back list of that nature and is willing to pay up for it obolensky said but he said harper and row has plenty of beef to warrant a dlr bid reuter 
acq	goldman sells most st pennsylvania fpa stock goldman sachs and co told the securities and exchange commission it sold nearly its entire stake in first pennsylvania corp of shares or pct of the total outstanding common stock goldman sachs said it has about first pennsylvania common shares remaining on february the company redeemed convertible debentures with common stock which at once increased goldman s stock holding and the total outstanding goldman sachs said it originally bought the stake as part of its arbitrage business marine midland banks mm has an agreement in principal to acquire first pennsylvania reuter 
earn	lionel corp lio th qtr jan oper net oper shr dlr vs cts oper net mln vs revs mln vs mln avg shrs mln vs mln year oper shr cts vs cts oper net vs revs mln vs mln avg shrs mln vs note prior year th qtr and year oper net excludes mln dlrs and mln dlrs respectively for income from discontinued operations prior year th qtr and year oper net also excludes mln dlrs and mln dlrs respectively for operating loss carryforwards and other reogranization items prior year th qtr and year ended january reuter 
earn	montreal city district savings bank st qtr shr cts vs cts net mln vs mln loans not given deposits not given assets billion vs not given note full name montreal city and district savings bank period ended january reuter 
acq	businessman has pct of del e webb dwp a john cotton an arizona businessman told the securities and exchange commission he has acquired the equivalent of shares of class a common shares in del e webb investment properties or pct of the total cotton president of finalco group inc a paradise valley ariz data processing equipment maker said he bought the stake which includes warrants to buy shares for dlrs the warrants are exerciseable at dlrs a share he said cotton said it bought the stock for investment purposes only reuter 
earn	astec industries inc aste th qtr dec shr loss nine cts vs profit cts net loss vs profit revs mln vs mln year shr profit cts vs profit cts net profit mln vs profit revs mln vs mln note net includes loss of three cts or mln dlrs in th qtr and loss of cts or dlrs in year from discontinued operations reuter 
earn	bank of british columbia st qtr jan net oper shr loss two cts vs profit three cts oper net profit dlrs vs profit year period ended october oper shr loss cts vs profit cts oper net loss vs profit assets billion vs billion note st qtr net excludes extraordinary loss of mln dlrs or six cts shr yr net excludes extraordinary loss of mln dlrs or dlrs shr involving mln dlrs of costs from sale of bank assets to hongkong bank of canada eight mln dlrs for contingent liabilities in respect of litigation and potential tax reassessment by u s govt and mln dlrs of deferred tax debits most bank assets sold to hongkong bank of canada a unit of hong kong and shanghai banking corp in nov shr after preferred divs reuter 
earn	restaurant associates inc ra th qtr jan shr cts vs cts net mln vs mln revs mln vs mln year shr cts vs cts net mln vs mln revs mln vs mln note th qtr includes loss from carryforward shares restated to give effect to to one stock split in the form a pct class a dividend in august reuter 
earn	michigan general corp mgl th qtr shr loss dlrs vs dlr net loss mln vs mln revs mln vs mln year shr loss dlrs vs loss dlrs net loss mln vs mln revs mln vs mln note th qtr year loss includes mln dlrs mln dlrs respectively from discontinued th qtr and year include loss of mln mln dlr respectively reuter 
earn	bank of b c revises share payout estimate bank of british columbia said it revised its estimate of shareholder distributions from last november s sale of most of the bank s assets to hongkong bank of canada to between cts and dlrs a share from cts to dlrs a share the bank said the estimate could rise to between dlrs and dlrs a share if the full pension surplus is obtained it said it did not know when distributions would be made it earlier reported that operating profit for first quarter ended january fell to dlrs from mln dlrs the previous year for full year ended october the bank posted an operating loss of mln dlrs against year earlier profit of mln dlrs the bank also posted a mln dlr extraordinary loss in fiscal bank of british columbia sold most of its assets last november to hongkong bank canada a unit of hongkong and shanghai banking corp of hong kong for mln dlrs it said efforts to wind up the bank s affairs were proceeding as quickly as possible the bank said it expected to report positive earnings in future periods barring unforeseen circumstances loan losses which the bank previously said figured in its move to sell off most of its assets rose to mln dlrs in fiscal from year earlier mln dlrs the bank said mln dlrs of the total represented downward adjustments to its portfolio of syndicated sovereign risk loans as required under the sale to hongkong bank since november the bank has confined activities to the winding up of affairs bank of british columbia said reuter 
earn	kiena gold mines ltd th qtr net shr cts vs cts net vs revs vs year shr dlrs vs cts net vs revs mln vs mln reuter 
earn	kiena plans two for one stock split kiena gold mines ltd said it planned a two for one common stock split pending shareholder approval on april it said approval would require pct of votes cast kiena said pct owner campbell red lake mines ltd crk was expected to vote in favor of the split reuter 
earn	rowe furniture corp rowe sets qtly dividend qtly div four cts vs four cts prior pay april record march reuter 
trade	u s house panel takes first trade bill votes house trade lawmakers took their first votes on measures designed to toughen u s trade laws but held over until tomorrow the most difficult votes on controversial plans to protect american industries meeting in closed session the house ways and means trade subcommittee failed to resolve one of the most sensitive issues in the bill whether they will force major foreign trading partners to severely cut their trade surpluses with the united states the subcommittee is considering a toned down version of democratic sponsored trade legislation that aims to open foreign markets but which drops last year s effort to force president reagan to retaliate with quotas or tariffs congressional aides who asked not to be identified said the lawmakers intend to wrap up their proposals tomorrow and will consider a proposal to mandate retaliation without setting specific trade penalties the legislation faces another hurdle in the full ways and means committee next week before the full house votes on it rep richard gephardt a missouri democrat who is seeking his party s presidential nomination said he may offer an amendment to call for reductions in the trade surpluses of those countries with barriers to imports of u s goods this would be a moderated version of his earlier plan to force a mandatory ten per cent annual cut in the trade surplus with the united states by japan south korea taiwan west germany and other countries with the largest trade imbalances my criteria for a good amendment sets a standard for getting the trade deficit down he told reporters the trade law changes are to become part of a major congressional and administration effort to turn around the record u s trade deficit of billion dlrs last year by opening up foreign markets and making u s products more competitive house speaker james wright a texas democrat said again today he expects the full house will approve the trade bill by may and that reagan will accept the final congressional bill i expect whatever is reported by the ways and means committee will pass we will have a good bill and an effective bill he told reporters the comprehensive trade bill will include work by other committees to ease export controls on high technology to aid u s workers displaced by foreign competition to stimulate research and development to remove foreign trade barriers and to improve education and worker training the lawmakers agreed that for the first time a u s industry could charge foreign producers with unfair competition if they deny basic worker rights such as collective bargaining safety rules and payment of a minimum wage appropriate to the country s economic development they transferred to u s trade representative clayton yeutter the powers now held by reagan to decide whether to retaliate against foreign violations of fair trade rules and whether an injured industry deserves import relief they agreed to make it easier for a company to get temporary relief from import competition but agreed the industry should provide a plan to become competitive the administration has not announced its support but yeutter said yesterday i am cautiously optimistic that the democratic led house will come up with an acceptable bill reuter 
trade	soviet minister says trade boost up to french soviet first deputy prime minister vsevolod murakhovsky said at the end of a brief visit here his country wanted to boost joint business with france but that a reduction of france s trade deficit with the soviet union depended on the french murakhovsky who is also chairman of the state agro industrial committee gosagroprom told a news conference he had discussed a variety of possible deals with french companies rhone poulenc pechiney and imec declining to put figures on possible contracts he said he had discussed plant protection and the processing of highly sulphuric gas with rhone poulenc packaging technology for agricultural products with pechiney and fruit and vegetable juice processing with imec an official for pechiney said an agreement of intent on packaging could be signed soon but could not give any other details the other two companies were not immediately available for comment asked whether he foresaw a reduction this year of france s trade shortfall at billion francs in the first months of against billion for the whole of murakhovsky told reuters it all depends on france at a meeting in paris last january french and soviet foreign trade ministers said they were committed to increased efforts to reduce the deficit estimates at the time showed a french mln franc surplus for december murakhovsky said the soviet union was prepared to talk with anybody with interesting proposals offering latest technology and assuring a mutual advantage he said the soviet union had many tasks ahead of it and would deal rapidly with proposals it considered interesting he encouraged companies to take advantage of new laws guaranteeing the interests of foreign partners in joint ventures but he said no agreements had yet been finalised under the new joint venture laws he said concrete deals had not yet been finalised as a result of a one billion dollar accord signed in moscow last month with french businessman jean baptiste doumeng he said doumeng s interagra company was preparing proposals for further examination by the soviet union doumeng last month said the agreement was to exchange one billion dollars worth of goods murakhovsky said the agreement was one of intent and designed primarily to renew and increase the soviet union s food production capacity reuter 
crude	venezuela to lend oil to ecuador for export venezuela will supply ecuador with an as yet undetermined amount of crude oil to help it meet export commitments seriously affected by last week s earthquake energy and mines minister arturo hernandez grisanti said he gave few details about the deal but said a crude oil loan agreement will be made between state oil companies petroleos de venezuela pdvsa and ecuador s cepe ecuador was forced to suspend oil exports for an expected four months after an earthquake damaged a pipeline oil accounts for per cent of its export income hernandez was speaking to reporters at miraflores palace on the results of talks with ecuador s deputy energy minister fernando santos alvite who arrived here last night the volume lent to ecuador would be discounted from its opec quota and would not affect venezuela s he said we would from august on produce our own quota and sell the additional amounts that ecuador would be repaying us he said he did not elaborate on the quota arrangements but did say ecuador would notify opec by telex that venezuela would be lending it a certain amount over so many days venezuela s opec output quota is currently million barrels a day and ecuador s has been set at bpd reuter 
earn	eagle clothes inc egl nd qtr jan shr profit cts vs profit cts net profit mln vs profit revs mln vs mln six months shr profit cts vs loss cts net profit mln vs loss revs mln vs mln note six months includes increase in provision for doubtful accounts to mln dlrs shares give effect to issuance of mln shares in exchange for outstanding series preferred shares reuter 
trade	britain calls on japan to increase imports britain today called on japan to increase foreign imports or risk the rise of protectionism and the harm it would bring to it and other trading nations british trade and industry secretary paul channon said japan must heed a report issued by a japanese government advisory body in december calling for faster domestic demand to help cut its trade surplus and restructure its economy i recognise that the strong yen has brought problems to japan s domestic economy he told a group of japanese businessmen in london but these short term difficulties should not be allowed to deflect japan from the fundamental reforms necessary he said it is not just a domestic issue for japan if import propensity does not expand very soon there is a real risk from protectionist lobbies particularly in the u s with whom japan has so massive a surplus he said they may well succeed in securing action by governments which would be highly injurious to trading nations like japan and the u k channon said there had been substantial growth in the volume of trade between japan and britain amounting to billion sterling billion dlrs last year but he added regrettably too much of it was in one direction with the japanese selling us billion sterling billion dlrs more than we sold them reuter 
acq	taft broadcasting rejects dlr per share buyout offer from theta corp 
acq	taft tfb rejects dlr shr offer taft braodacasting co said its board of directors unanimously decided not to accept the pending proposal of theta corp an investor group led by dudley taft the decision was based on among other things the advise of its financial advisors goldman sachs and co that the offer of dlrs per share was inadequate taft said the board concluded that the offer failed to recognize fully the future propsects of the company and directed management to explore alternatives including possible financial restructuring reuter 
money-fx	treasury secretary baker declines comment on g u s treasury secretary james baker declined comment on the february paris accord between the six major industrial nations under which they agreed to foster exchange rate stability asked by reporters after a speech before the national fitness foundation banquet what if any currency intervention levels had been set in paris baker replied we never talk about intervention baker also declined to comment on his views about the foreign exchange markets reaction to the accord reuter 
crude	ecuador to ask opec to raise export quota ecuador will ask opec to raise its oil export quota by barrels per day to to compensate for lost output due to last week s earthquake deputy energy minister fernando santos alvite said santos alvite who arrived in caracas last night to discuss an aid plan for ecuador did not say when the organisation of petroleum exporting countries opec would be approached the additional output would be related to plans now under discussion for venezuela and mexico to lend ecuador crude while it repairs a pipeline damaged by the quake earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply an unspecified part of ecuador s export commitments but santos alvite told reporters he hoped a first cargo of barrels could leave maracaibo this weekend to supply refineries near guayaquil he added ecuador also wanted to make up for bpd it shipped to caribbean destinations mexico might supply ecuador s south korean market ecuador may be unable to export oil for up to five months due to extensive damage to a mile stretch of pipeline linking jungle oilfields to the pacific port of balao reuter 
crude	china closes second round of offshore oil bids china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported it quoted a spokesman for the china national offshore oil corp cnooc as saying china signed eight contracts with foreign firms for blocks in the pearl river mouth and south yellow sea covering a total area of sq km second round bidding began at the end of and only one well has so far produced results lufeng km south east of shenzhen with an output of barrels a day the well was drilled by a group of japanese companies the spokesman added cnooc was ready to enter into contracts for offshore blocks before third round bidding began he did not say when this would be but added the contracts would not be bound by restrictions imposed during the second round china has signed oil contracts and agreements with companies from countries since when offshore exploration was open to foreigners eleven contracts were terminated after no oil was discovered foreign firms have invested billion dlrs on offshore china since reuter 
acq	amc imposes hiring freeze due to takeover bid american motors corp amo management has ordered a hiring freeze in view of chrysler corp s c billion dlr takeover bid a spokesman for amc said analysts said the merger is virtually certain to go ahead american motors directors met for five hours wednesday to review the takeover proposal the board expects to be meeting periodically over the next several weeks on the chrysler proposal amc said in its first formal statement since it acknowledged the chrysler proposal on monday chrysler the number three u s automaker has said the merger is motivated principally by its desire to acquire amc s profitable jeep business and dealers as well as a new modern car assembly plant in bramalea ontario that means a guaranteed future for much of amc but it leaves in question the fate of many of its plus employees according to industry analysts amc s toledo ohio jeep plant has hourly workers on indefinite layoff while its kenosha wisconsin car plant has another on layoff reuter 
trade	taiwan further relaxes foreign goods import curbs taiwan said it would soon relax import controls on some foreign items including stationery and books in a further effort to allow trading partners especially the u s greater access to its markets taiwan announced the easing of import curbs on some farm and industrial products last month a council for economic planning and development spokesman told reuters he said the new move was intended to balance trade between taiwan and its trading partners the island s trade surplus reached a record billion u s dlrs last year up from billion in in january taiwan cut import tariffs on some foreign products and allowed imports of u s wine beer and cigarettes we hope the measures will help reduce our trade surplus this year especially with that of the u s the spokesman said washington is pressing taiwan to open its markets wider as a way of cutting its trade deficit with the island which rose to billion u s dlrs in the first two months of from billion in the year earlier period reuter 
ship	bangladesh port workers end strike cargo handling resumed at bangladesh s chittagong port today after workers ended their three day walk out triggered by a pay dispute port officials said loading and unloading of ships stranded by the strike started this morning and will be completed as quickly as possible they said the strikers returned to work after an agreement was reached last night between port authorities and the port workers association they said without giving details reuter 
acq	leigh pemberton opposes takeover protection rules the bank of england does not favour the introduction of rules to shield companies from hostile takeover attempts its governor robin leigh pemberton said instead merchant banks advising bidding companies must show restraint and responsibility to avoid the excesses that have marred recent takeovers he told the yorkshire and humberside regional confederation of british industries annual dinner leigh pemberton also called on companies to improve ties with institutional investors suggesting representatives of those institutions be granted seats on the boards of directors of companies they invest in boards cannot expect protection from unwelcome predators for that is but a short step from saying that they should be protected from their own shareholders who are after all the proprietors of the company leigh pemberton said he added takeovers and mergers had an important role to play in furthering economies of scale integration and more efficient market penetration the degree of success or failure of a takeover has not in my experience depended on whether or not the takeover was contested he said leigh pemberton noted there had been excesses in takeover activity in the recent past the aim is to pressurise a company s management into action dedicated solely to a favourable impact on the share price in the short term partly or even primarily at the expense of the future he said such bids often depend for their success on creating a highly charged and artificial situation in the share market and give rise to temptations on both sides of the battle to engage in aggressive even manipulative tactics that are immensely damaging to the interest of the shareholders he said in a clear reference recent events he said those in the city who act for companies or individuals must i suggest be ready to accept a full measure of responsibility even if it entails opprobrium for the transactions that may result they should exercise the most careful judgment at the outset with respect to the clients for whom they act and the activities contenplated those who sow wind cannot expect the whirlwind to visit elsewhere he added reuter 
acq	japanese purchase of u s high tech firm opposed commerce secretary malcolm baldrige has asked the white house to consider blocking the planned japanese acquisition of a major u s computer and semiconductor maker u s officials said yesterday the officials told reporters baldrige had serious concerns on national security grounds about the sale of schlumberger ltd slb unit fairchild semiconductor inc to fujitsu ltd itsu t the officials said the sale could leave the united states overly dependent on a foreign company for equipment used in advanced missiles aircraft electronics and intelligence gathering the u s officials added the sale would also worsen the strained relations between the two countries stemming from the huge japanese trade surplus the white house economic policy council would consider the sale in the coming weeks they said defence secretary caspar weinberger s position was not known but in the past he has opposed the transfer of high technology to foreign governments or companies computers made by u s manufacturers are widely used in the world but tokyo told u s negotiators recently it prefers local manufacturers and would not buy u s supercomputers reuter 
ship	striking brazil seamen threaten mass resignation striking seamen said they would offer their collective resignation rather than end their day old national strike on management s terms the seamen said they were spurred to their decision after marines occupied the ship docemarte in santos harbour tuesday night they said seamen on the vessel were being forced to work under duress president jose sarney s government despatched troops to brazil s ports and oil installations on tuesday seamen in santos brazil s main port are in defiant mood one of their leaders orlando dos santos told reuters that most of the seamen in the port offered their resignations on wednesday the national strike headquarters in rio de janeiro said seamen were offering to resign in all the country s main ports the strike by seamen comes as brazil faces a serious debt crisis brought on by a sharp deterioration in its trade balance the country needs all the foreign exchange it can get and shipowners have been quick to denounce seamen for the harm the strike is doing to exports an advertisement placed in the newspapers by the shipowners association read the seamen s strike is illegal irrational and unpatriotic the seamen respond that they cannot live on their present salaries according to officical pay lists available in the union s office the basic pay for ordinary seamen is cruzados a month while various allowances can bring their total pay up to cruzados a month at the other end of the scale captains earn cruzados a month basic pay which is brought up to cruzados with allowances brazil s seamen are the second worst paid in the world after ghana s dos santos said he said the seamen had not received a pay increase since february and prices have doubled since then with the collapse of the government s cruzado plan price freeze talks in rio de janeiro wednesday involving labour minister almir pazzionotto seamen and employers failed to resolve the dispute the seamen are demanding pay raises of about pct but have been offered less than half that reuter 
acq	renouf sells pct nzi stake to brierley renouf corp ltd said it sold its pct stake in nzi corp ltd to brierley investments ltd bil for mln n z dlrs renouf managing director mike cashin said in a statement it had been renouf s intention to build up a long term strategic position in nzi but it became clear to us that it was in the best interests of both nzi and ourselves for brierley investments to acquire our holding he said he said renouf built up its nzi holding over the past six months the sale comprised mln shares at n z dlrs a share and warrants at dlrs each the warrants are attached to a mln swiss franc note issue each bond of francs carries a detachable warrant entitling the bearer to nzi shares in its annual report bil reported that it held a pct stake in nzi nzi has mln ordinary shares on issue total capital including shares attached to warrants is mln shares cashin said the sale will result in a significant profit and places renouf in a good position to consolidate on recent transactions and pursue other opportunities nzi shares were at n z dlrs bil at and renouf at at the close of trading bil executives were unavailable for comment reuter 
earn	boliden ab blds st results group loss after financial income and expenses billion vs loss mln crowns sales billion crowns vs billion no proposed dividend vs crowns note the company this year consolidated wholesale and investment conglomerate ahlsell ab reuter 
earn	saudi banks face further lean period saudi arabia s commercial banks are reporting a further decline in profits for as increasing provisions have to be set aside to cover the burden of non performing loans bankers in the saudi capital said the need to build reserves for bad and doubtful debts may start to decline a little this year but the kingdom s still sluggish economy and legal problems hampering traditional lending operations mean earnings will remain vulnerable one senior bank credit officer said the work is largely done in terms of identifying bad loans and making provisions but banks are still going to face difficulties earning money the sudden decline of saudi arabia s corporate sector in culminating in a number of debt reschedulings has taken a heavy toll of bank profits with first results now appearing for showing a fourth successive year of broad decline the cumulative net earnings of the kingdom s banks had sunk to mln riyals from billion in before world oil prices tumbled of the kingdom s nine joint venture banks which operate on the gregorian calendar year four have already reported and revealed a further profits decline or net loss for at the expense of increased provisions the newest and smallest of the joint ventures united saudi commercial bank uscb reported a net loss of mln riyals marginally less than s shortfall of mln profits before provisions were sharply higher in part reflecting an pct staff cut last year but the bank nearly trebled the amount set aside against bad and doubtful loans to mln riyals from mln in other results released so far show saudi american bank samba reporting a pct fall in net profit to mln riyals while al bank al saudi al fransi known as saudi french slid pct to mln riyals both saudi american owned pct by citicorp s cci n citibank na and saudi french pct owned by banque indosuez increased provisions sharply arab national bank s net profit fell pct to mln riyals and provisions were more than doubled to mln riyals bankers said there are first signs that the number of non performing loans has stopped growing as the decline in the saudi economy bottoms out few are willing to predict a sharp upturn in economic activity but one banker said the top pct of the saudi banks are now at or close to international levels on provisions from to the kingdom s largest bank national commercial bank ncb stashed away billion riyals in provisions or pct of its total loans and advances to the private sector bankers calculated between and riyad bank ncb s rival as the second biggest of the two all saudi shareholding banks had covered pct of its loans and advances both banks operate on an islamic year that does not coincide with the other nine although the saudi arabian monetary agency sama has been tightening supervision there is still no standardised rule for declaring loans as non performing bankers say this makes comparison of profit figures difficult because some banks still book non accruing interest as revenue while others follow more conservative practices in force in major world financial centres bankers generally said ncb riyad bank and the joint ventures samba saudi french and arab national bank rank as the strongest earners other banks such as saudi british bank pct owned by the british bank of the middle east are disadvantaged by a relatively low deposit base saudi british slashed profit pct to just mln riyals and accounts due soon are expected to show another low figure but the bank has traditionally been one of the most conservative in making provisions bankers said sama has proved it is not prepared to see a saudi bank go under and not only supported saudi cairo bank after its troubled accounts came to light but also made available cheap deposits to saudi investment bank and uscb the banks can on lend these to generate profit but generally banks are awash with liquidity since they are unwilling to risk incurring fresh non performing loans and while banks in more liberal financial markets can attempt to diversify away from traditional lending conservatism in saudi banking has made it difficult to generate fee income from new investment banking products one banker said operating earnings in the kingdom are not good reflecting the caution in new lending the amount of advances is showing a declining trend while the days when banks had ample funds in interest free current accounts to invest are disappearing as saudi customers seek a better return on their money in the ratio of interest bearing accounts to current accounts was to pct today only about pct of customer funds are held on current account reuter 
acq	guinness challenges mln stg payment to lawyer guinness plc guin l the brewing group has challenged a mln stg payment to a u s lawyer who says he organised its controversial takeover of scotch whisky maker the distillers co plc but attorneys for lawyer thomas ward a member of the guinness board told a court yesterday in the channel island of jersey that ward saw the payment as his reward for services in last year s billion stg takeover britain s department of trade and industry is investigating the takeover guinness says its former chairman ernest saunders and ward breached their fiduciary duty in authorising the payment to ward via a jersey based company marketing and acquisitions consultants and has gone to the jersey court to recover it mac said in defence documents that ward was the main negotiator in the battle for distillers against rival bidder argyll ayll l group plc the bid would not have been successful but for the services of mr ward mac attorneys said in the documents submitted in court the payment was in all the circumstances reasonable proper and fully earned reuter 
earn	japanese corporate earnings recovery predicted japanese corporate earnings will rise pct in fiscal for the first year on year increase in three years partly because of the yen s stable exchange rate the nomura research institute said sales of all industries are predicted to rise pct in the year which starts april the research arm of nomura securities co said in a statement recurrent profits were estimated to fall pct in the current fiscal year with sales forecast to drop pct the forecast assumes an average rate of yen to the dollar in compared with yen in the current year corporate efforts to cope with the yen s appreciation such as cutting production costs are expected to bear fruit next fiscal year the institute said the economy should also benefit from pump priming expected from the government and a halt in rising prices of manufactured goods it said recurrent profits of manufacturing industries are projected to rise pct next fiscal year against an estimated pct fall in the current year non manufacturing sector profits will decline pct in against an estimated pct rise in the current year it said reuter 
earn	boliden says results burdened by loss writeoff swedish mining and metals group boliden ab blds st forecast a return to profitability during after recording a billion crown loss burdened by a massive write off the company which consolidated the swedish wholesale and investment conglomerate ahlsell ab this year said the result included restructuring costs and write offs of mln crowns these costs have arisen as a results of a change of direction for the group they are mainly one off but they have burdened the annual accounts the company said in a statement boliden said the company s liquid assets were billion crowns at year end which together with an investment portfolio of billion made it one of the most liquid swedish companies as a result of the losses the board proposed cancelling dividend for the year although it predicted a return to profitability during the statement added swedish tyres process equipment and components firm trelleborg ab has taken a majority stake in boliden since the beginning of this year trelleborg then said it had no plans for consolidating boliden reuter 
earn	rowntree reports pretax profit at mln stg rowntree mackintosh plc rwnt l announced it made a pretax profit of mln stg in the weeks ending january compared with mln stg in the previous year turnover was up to billion stg from billion a final dividend of p was proposed after a final p last year earnings per share rose to p from p the results were broadly in line with market expectations leaving shares at p in early trading up one pence from yesterday s close but slightly off pre announcement opening levels profit on ordinary activities after tax was mln stg up from the previous year s mln the u k remained rowntree s largest centre for trading profits accounting for mln stg up from mln in profit from its second largest geographical area north america slipped to mln stg from mln north american profits were affected by the fall of the value of the dollar operations in continental europe made mln stg in trading profit up from mln with mln stg made in australasia up from mln and mln stg from the rest of the world against mln in the previous year extraordinary items amounted to a mln debit after a mln debit previously a company spokesman said this represented additional provisions for the cost of rationalisation plans announced in earlier years rowntree expects north american operations will this year ahead of company expectations be of the same order as those from the u k and the rest of europe combined the statement said a spokesman said no specific figures had been forecast acquisitions will continue to be sought worldwide including further moves in the speciality retailing business which rowntree first entered in the statement said rising profit from europe this year was forecast by chairman kenneth dixon in a statement he added the performance of seven businesses bought last year was encouraging the u k confectionery side gained market share and increased trading margins the sun pat british grocery concern increased profit and rowntree s small health food business holgates raised earnings fold the statement said offsetting factors included currency movements which cost the company nearly mln stg sales tax hurt canadian profits on confectionery operations and the company faced strong competition in the u k snack and mid east export markets reuter 
trade	china trade deficit falls in january china s trade deficit in january fell to mln dlrs from mln in january the china daily business weekly said quoting customs figures the paper said exports fell to billion dlrs from billion and imports fell to billion from billion reuter 
earn	jacobs suchard ag jacz z year net mln swiss francs vs mln turnover billion vs billion dividend per bearer vs francs francs per registered vs francs francs per participation certificate vs francs cash flow mln vs mln note confirms forecast of results issued in january operating profit mln vs mln depreciation mln up pct capital spending mln down pct reuter 
earn	british telecom third quarter pre tax profit mln stg vs mln 
money-fx	bank of england offers early help in money market the bank of england said it had invited the discount houses to make an early round of bill offers to help offset a large liquidity shortage in the money market it estimated the shortage at around billion stg one adverse factor being the unwinding of a sale and repurchase agreement with the market having to buy back bills worth mln stg from the bank bills maturing in official hands and the treasury bill take up would drain mln stg wile exchequer transactions and a note circulation rise would take out mln and mln respectively above target bankers balances would add mln reuter 
earn	british telecom rd qtr ended dec shr p vs p making p vs p for nine months pre tax profit mln stg vs mln making billion stg vs billion net profit before minorities mln vs mln making mln vs mln note company s full name is british telecommunications plc bty l third quarter turnover billion stg vs billion making billion vs billion for nine months operating profit mln vs mln making billion vs billion net interest payable mln vs mln making mln vs mln tax mln vs mln making mln vs mln minorities nil vs nil making two mln vs nil reuter 
earn	rowntree mackintosh plc rwnt l year to end january shr p vs p div final div p vs p pretax profit mln stg vs mln net after tax mln vs mln turnover mln vs mln trading profit mln stg vs mln consisting u k mln vs europe mln vs mln north america mln vs mln australasia mln vs mln rest of world mln vs mln reuter 
earn	glynwed international plc glyn l year shr net basis p vs p div p vs p making p vs p pretax profit mln stg vs mln net after tax mln vs mln extraordinary items debit mln vs debit mln interest payable mln vs mln net borrowings mln vs mln turnover mln vs mln reuter 
earn	glynwed sees further progress in glynwed international plc glyn l in a statement accompanying their results that present indications are that has started well and it is confident that the year will be one of further progress the company added that results in the u s were poor and the deterioration in the south african economy left its falkirk industries unit with a loss of one mln stg but it said there was a continuing improvement in its core businesses the extraordinary items debit of mln stg arose on the closure and disposal of various businesses reuter 
earn	british telecom sees satisfactory results british telecommunications plc bty l expects to announce satisfactory results for its financial year ending march chairman sir george jefferson said in a third quarter statement full year results will be published in june in the financial year pre tax profit rose to billion stg from billion in the previous period jefferson said good progress was made in the latest nine months while most customers were able to maintain their normal level of calls during the recent strike by company engineers the statement said a positive cash flow of mln stg for the first nine months will diminish in the final quarter due to corporation tax and dividend payments earlier the company reported third quarter pre tax profit for the period ended december of mln stg compared with mln a year earlier nine month pre tax was billion stg against billion british telecom shares were last quoted at p level with late yesterday in the wake of results which were in line with market expectations dealers said reuter 
earn	next plc nexl l five months to end january shr p vs p div p vs p pretax profit mln stg vs mln net interest payable mln vs stg net after tax vs mln turnover excluding vat mln vs mln note the company said it intends to issue a second interim statement for the six months to july and to pay a related dividend in early reuter 
earn	ste lyonnaise des eaux lyoe pa year ended dec consolidated attributable net profit mln francs vs mln parent company net profit mln vs mln reuter 
earn	lyonnaise des eaux forecasts profit rise consolidated attributable net profit of ste lyonnaise des eaux lyoe pa is likely to rise by at least pct this year from the mln francs reported for chairman jerome monod told a news conference group turnover should rise about seven pct from the mln reported for this year while group investments should total around billion francs somewhat above the billion annual average of the past three years he added investments will be aimed mainly at developing the group s leisure industry health and communications activities monod said in the leisure sector the group planned a joint development with club mediterranee cmi pa club med of a hectare pleasure park at puisaye in the yonne department of eastern central france he said wholly owned subsidiary lyonnaise de developpement touristique would carry out the construction work and financial planning of the development which would be leased to club med as operator of the complex he said he gave no financial details but said leisure sector investments would total about mln francs over the next three years investments in the communications industry would go mainly to develop the group s cable television activities and its pct owned metropole television affiliate metropole recently won the concession to operate a sixth television channel in france financing requirement of metropole would be about mln francs over the next four years of which lyonaise des eaux would provide about mln monod said monod said metropole aimed to win a to pct audience share and to capture about pct of the national television advertising market total investment by the group in the communications sector including cable activities would be between mln and mln francs over the next five years mainly concentrated in the coming year investment in cable operations would total between mln and mln over the five years with the aim of widening the audience to subscribers from and boosting turnover to around mln francs a year from mln reuter 
acq	gus makes mln stg agreed offer for pantherella great universal stores plc gus l said it has made an agreed offer for pantherella plc valuing the company at mln stg and each pantherella ordinary share at pence the offer is based on eight new a non voting ordinary shares in gus plus stg for every ordinary pantherella the new gus shares will not receive the eight pence per share interim dividend in respect of the year ending march the statement said gus has received irrevocable undertakings to accept the offer in respect of pct of pantherella shares from the company s directors and their families the pantherella board estimates the company which manufactures socks will show a pretax profit of about stg reuter 
earn	bond corp international ltd nine mos to dec shr loss h k cents no comparison dividend nil no comparison net loss mln dlrs notes net excluded extraordinary losses mln dlrs property valuation reserve surplus mln dlrs results reflected trading in subsidiary humphreys estate group but excluded influence of a bulk of properties which the firm bought late last year from hongkong land co ltd hkld hk for billion dlrs company controlled by bond corp holdings ltd of australia reuter 
trade	canada january trade surplus mln dlrs after december mln dlrs surplus 
trade	canada january trade surplus mln dlrs canada had a trade surplus of mln dlrs in january compared with an upward revised mln dlrs surplus in december statistics canada said the december surplus originally was reported at mln dlrs the january surplus last year was billion dlrs january exports seasonally adjusted were billion dlrs against billion in december and billion in january january imports were billion dlrs against billion in december and billion in january reuter 
earn	kidston says higher net reflects gold sale rise kidston gold mines ltd attributed the rise in net profit to higher prices and an increase in gold sales to ounces from ounces in the placer development ltd offshoot which operates australia s largest gold mine in north queensland earlier reported net profit rose to mln dlrs from mln in the period of months from the start of production sales of silver also rose to ounces from kidston said in a statement it will spend about mln dlrs to upgrade its mill grinding circuit to a mill ball mill crushing circuit to boost output by pct from end reuter 
earn	kidston gold mines ltd year shr cents vs yr div cents vs net mln dlrs vs mln turnover mln vs mln other income mln vs shrs mln vs same note company paid total cents in previously declared quarterly divs vs net is after tax dlrs vs interest mln vs mln and depreciation mln vs mln reuter 
crude	china closes second round of offshore oil bids china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported it quoted a spokesman for the china national offshore oil corp cnooc as saying china signed eight contracts with foreign firms for blocks in the pearl river mouth and south yellow sea covering a total area of sq km second round bidding began at the end of and only one well has so far produced results lufeng km south east of shenzhen with an output of barrels a day the well was drilled by a group of japanese companies the spokesman added cnooc was ready to enter into contracts for offshore blocks before third round bidding began he did not say when this would be but added the contracts would not be bound by restrictions imposed during the second round china has signed oil contracts and agreements with companies from countries since when offshore exploration was open to foreigners eleven contracts were terminated after no oil was discovered foreign firms have invested billion dlrs on offshore china since reuter 
acq	leigh pemberton opposes takeover protection rules the bank of england does not favour the introduction of rules to shield companies from hostile takeover attempts its governor robin leigh pemberton said instead merchant banks advising bidding companies must show restraint and responsibility to avoid the excesses that have marred recent takeovers he told the yorkshire and humberside regional confederation of british industries annual dinner leigh pemberton also called on companies to improve ties with institutional investors suggesting representatives of those institutions be granted seats on the boards of directors of companies they invest in boards cannot expect protection from unwelcome predators for that is but a short step from saying that they should be protected from their own shareholders who are after all the proprietors of the company leigh pemberton said he added takeovers and mergers had an important role to play in furthering economies of scale integration and more efficient market penetration the degree of success or failure of a takeover has not in my experience depended on whether or not the takeover was contested he said leigh pemberton noted there had been excesses in takeover activity in the recent past the aim is to pressurise a company s management into action dedicated solely to a favourable impact on the share price in the short term partly or even primarily at the expense of the future he said such bids often depend for their success on creating a highly charged and artificial situation in the share market and give rise to temptations on both sides of the battle to engage in aggressive even manipulative tactics that are immensely damaging to the interest of the shareholders he said in a clear reference recent events he said those in the city who act for companies or individuals must i suggest be ready to accept a full measure of responsibility even if it entails opprobrium for the transactions that may result they should exercise the most careful judgment at the outset with respect to the clients for whom they act and the activities contenplated those who sow wind cannot expect the whirlwind to visit elsewhere he added reuter 
crude	ecuador to ask opec to raise export quota ecuador will ask opec to raise its oil export quota by barrels per day to to compensate for lost output due to last week s earthquake deputy energy minister fernando santos alvite said santos alvite who arrived in caracas last night to discuss an aid plan for ecuador did not say when the organisation of petroleum exporting countries opec would be approached the additional output would be related to plans now under discussion for venezuela and mexico to lend ecuador crude while it repairs a pipeline damaged by the quake earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply an unspecified part of ecuador s export commitments but santos alvite told reporters he hoped a first cargo of barrels could leave maracaibo this weekend to supply refineries near guayaquil he added ecuador also wanted to make up for bpd it shipped to caribbean destinations mexico might supply ecuador s south korean market ecuador may be unable to export oil for up to five months due to extensive damage to a mile stretch of pipeline linking jungle oilfields to the pacific port of balao reuter 
earn	jacobs suchard expects another excellent year jacobs suchard ag jacz z hopes for another excellent year in after a pct increase in net profit results in the first few months show it heading in the right direction company president klaus jacobs said the group reported net profit of mln swiss francs compared with mln in and raised its dividend per bearer share to francs from francs jacobs said the increase in profit which far exceeded the company s target of five pct real annual growth had been made possible by restructuring measures introduced in january which had also made some major acquisitions possible last year hermann pohl general director in charge of economic affairs said the pct decline in group turnover to billion francs was due to currency factors a pct negative currency influence was partially offset by growth in operations and by structural changes within the group turnover in the coffee business fell to billion francs from billion in while turnover in the chocolate sector rose to billion francs from billion the tonnage sold in both sectors declined due to higher prices and lower consumer demand especially in france and west germany jacobs suchard increased its market share in west germany to pct from pct in largely as a result of acquisitions market share in france was little changed at pct against pct pohl said the group s average tax rate rose to pct from pct because of the higher profits and despite write offs on the losses of new acquisitions a further increase in tax levels was expected in future taxes jumped pct to mln francs in from mln the previous year reuter 
acq	taft tfb rejects dlr shr offer taft broadacasting co said its board of directors unanimously decided not to accept the pending buyout proposal of theta corp an investor group led by dudley taft the decision was based on among other things the advice of its financial advisors goldman sachs and co that the offer of dlrs per share was inadequate taft said the board concluded that the offer failed to recognize fully the future propsects of the company and directed management to explore alternatives including possible financial restructuring reuter 
money-fx	treasury secretary baker declines comment on g u s treasury secretary james baker declined comment on the february paris accord between the six major industrial nations under which they agreed to foster exchange rate stability asked by reporters after a speech before the national fitness foundation banquet what if any currency intervention levels had been set in paris baker replied we never talk about intervention baker also declined to comment on his views about the foreign exchange markets reaction to the accord reuter 
earn	bel fuse inc belf th qtr net shr cts vs cts net vs sales vs year shr cts vs cts net vs sales mln vs mln reuter 
earn	southwest realty swl year loss shr loss cts vs profit dlrs net loss vs profit note cash flow dlrs or cts shr vs dlrs or cts shr reuter 
earn	southwest realty swl has liquidity problems southwest realty ltd said it believes it could make all of its scheduled montly debt service payments for despite the falloff in its rental operations but making the payments would probably severely impair its liquidity and restrict its ability to maintain the quality of its properties the company today reported a loss of dlrs compared with a profit of dlrs southwest said in addition to its monthly scheduyled debt service payments a dlr loan on one of its houston properties is due to mature on april one southwest said a commitment to reduce the interest rate and extend the houston loan for one year has been accepted it said talks are underway with lenders on other houston properties to obtain partial debt service moratoriums which if granted would cut cash deficits from levels the loan renegotiations could involve bankruptcy or other litigation connected with the specific properties involved and could involve the suspension of interest and principal payments to some of the lenders southwest said if the attempts to restructure debt do not succeed it could lose one or more of the properties southwest said the houston properties made up about pct of its current value equity as of december of dlrs per share down from dlrs a year before the company said depending on the success of the talks and operating results for one or two more properties could become subject to similar negotiations the two additional properties comprised about pct of its current value equity at year end southwest said reuter 
earn	d h holmes co ltd hlme sets payout qtly div cts vs cts prior pay april one record march reuter 
acq	pope evans per repurchases shares pope evans and robbins inc said it has repurchased common shares from putnam mills corp principals sidney and peter kaplan for dlrs per share it said the purchase price will be applied against the dlrs putnam mills currently owes pope evans for merchandise pope evans has about mln shares outstanding the company also said it has agreed in principle to acquire privately held pat fashions industries inc for mln dlrs in cash and notes with financing to come partly from bank borrowings subject to approval by the pope evans board and pat shareholders pat fashions imports apparel from the far east and makes apparel domestically as well in the year ended november pat earned dlrs pretax on sales of mln dlrs reuter 
acq	baird batm gets temporary restraining order baird corp said the massachusetts state court for suffolk county has granted it a temporary restraining order prohibiting mark iv industries inc iv from further purchases of baird stock until mark iv complies with the massachusetts anti takeover statute the company said mark iv currently owns at least pct of baird stock and has indicated that it may attempt to acquire baird baird said the u s district court in boston has denied mark iv s application for a temporary restraining order to prevent enforcement of the massachusetts takeover law reuter 
acq	dudley taft and narragansett capital to pursue taft broadcasting bid 
earn	general mining union corp ltd genm j year net shr cts vs final div cts vs making vs pre tax mln rand vs mln net mln vs mln tax mln vs mln attrib to outside shareholders mln vs mln reuter 
acq	dudley taft to pursue taft broadcast tfb bid taft broadcasting co vice chairman dudley taft and narragansett capital inc narr said they intend to pursue their effort to acquire taft broadcasting despite the rejection yesterday of their dlr per share offer by the taft broadcasting board dudley taft and narragansett in a joint statement said they intend to explore alternatives to achieve the acquisition including further talks with taft broadcasting they said they are confident that the taft broadcasting board will conclude that the resolution of the company s current unstable situation as quickly as possible is in the best interests of all parties they said the taft board did not conclude that their offer was not fair to taft shareholders taft broadcasting yesterday however said financial advisor goldman sachs and co found the offer to be inadequate reuter 
earn	harper group harg th qtr net shr cts vs cts net vs revs mln vs mln avg shrs vs year oper shr cts vs cts oper net vs revs mln vs mln avg shrs vs note year net excludes dlr loss from discontinued operations share adjusted for three for two stock split reuter 
trade	canada leaders fail to set pact on free trade prime minister brian mulroney said he held frank discussions with the canadian province premiers on the pace of free trade talks with the united states but the longstanding issue of provincial ratification remains to be settled speaking to reporters after nearly five hours of meetings with the premiers mulroney said further discussions would be held in june and september to discuss the role of the provinces in approving any new trade deal but he maintained progress was being made in the sweeping talks with the unites states that got under nearly two years ago it appears reasonable progress is being made in the talks mulroney said alberta premier don getty agreed things are running pretty quickly now the talks launched by mulroney s progressive conservative government after concerns about protectionist sentiment in the u s are aimed reducing the remaining barriers between the world s largest trading partnership but the provinces are expected to play a major role in any new trading arrangement and some of the provincial leaders complained of a lack of progress on reaching a ratification formula it s my view that we should be thinking about these things right now along with the questions of the substance of the agreement commented ontario premier david peterson who has been highly critical of the talks in the past but newfoundland premier brian peckford said an agreement was more likely to emerge by consensus and there would be no need for a hard and fast formula peckford said it appears canada is prepared to make concessions to the united states on financial services in order to make inroads on other bargaining areas such as agriculture canadian published reports quoting government sources say the two countries are close to reaching a trade deal and it will involve eliminating border tariffs and many non tariff barriers over the next to years a rough draft of the accord is expected to be presented to the premiers at the june meeting while the finished document is hoped to be presented to congress in october it s a very tight time frame ontario s peterson said last night but at this moment it is tough to say what will transpire reuter 
earn	healthsouth rehabilitation corp hsrc th qtr shr profit eight cts vs loss cts net profit vs loss revs vs year shr profit cts vs loss cts net profit vs loss revs mln vs reuter 
acq	first union func acquisition advances first union corp said shareholders of first north port bancorp of northport fla have approved a merger into first union for dlrs per share or about dlrs the company said the acquisition is still subject to regulatory approvals and is expected to be completed during the second quarter reuter 
earn	sand technology sndcf mulling reverse split sand technology systems inc said it is considering a reverse stock split of at least one for and expects to report a second quarter profit compared to a loss last year the stock consolidation is something we re discussing but it s not definite sand technology president jerry shattner told reuters in an interview a private placement recently brought the number of outstanding shares to mln up from mln shares on july the fiscal yearend the company has always had the aura of a penny stock shattner said adding that sand plans at some time to apply for listing on the montreal stock exchange shattner said the company expects to report a profit of five pct or about dlrs on sales of seven mln dlrs for the second quarter ended january results for the third quarter should be about the same as the second he added last year sand lost dlrs on revenues of dlrs in the second quarter after a disastrous first quarter sand hopes to break even in the current fiscal year shattner said the company has scaled back its sales forecast to about mln dlrs from the mln dlrs projected in december the rapid appreciation of the japanese yen against u s and canadian dollars last year led to sand s loss of mln dlrs or two cts per share on sales of mln dlrs in the first fiscal quarter this year the company lost dlrs or one ct per share on sales of dlrs shattner believes the company will post better results this year due to several factors last year one of our biggest problems was we were buying products in japanese yen we now buy some products from hitachi in u s dollars and the results are starting to show up in the second quarter he said sand technology sells under its trademark computer accessories such as disk drives solid state memory enhancement devices and printers manufactured by hitachi ltd hit of japan shattner said sand s affiliate in detroit st systems inc is developing software that lets large maniframe computers handle large databases and share them between applications it is also distributing a new product called sapiens which is artificial intelligence computer language for use by major corporations the company has also reduced costs through some staff cutting and a switch to profit sharing plans for sales staff instead of straight commissions shattner said and sand plans to market a laser printer in the fourth fiscal quarter shattner said reuter 
acq	concorde ventures inc in merger agreement concorde ventures inc said it has signed a letter of intent to acquire englewood colo homebuilder winley inc for mln common shares the investment company said after the merger the combined company will have mln shares outstanding for the year ended january winley earned dlrs pretax on revenues of mln dlrs reuter 
acq	borg warner to sell industrial products business for about mln dlrs 
acq	qintex extends princeville pvdc offer qintex america ltd said it is again extending its offer of dlrs a share for mln princeville development corp shares until today from yesterday as reported yesterday qintex said about seven mln princeville shares had been tendered in response to the offer qintex said it is extending the offer to allow princeville to comply with federal law restricting the ownership of u s airlines by non u s citizens and to finalize the terms and conditions of the letter of credit or bank guarantee required under the previously announced acquisition agreement reuter 
earn	corrected network video inc nvid rd qtr feb end shr five cts vs one ct net vs revs vs avg shrs vs nine mths shr cts vs four cts net vs revs vs avg shrs vs note corrects reversed figures in march item reuter 
money-fx	bankers oppose strict taiwan currency controls taiwan imposed currency controls today in what bankers called a desperate move to prevent speculation as the taiwan dollar appreciated against the u s currency the strict controls will require proof that large remittances to taiwan are connected to commercial transactions rather than currency speculation bankers attacked the controls as ineffective saying they were a panic reaction to pressure from washington for faster appreciation of the taiwan currency against the u s dollar which would slow exports to the united states remittances exceeding one mln dlrs earned through exports shipping insurance or bank lending will now need government approval along with remittances of more than dlrs from any other source reuter 
trade	taiwan to relax import curbs on more goods taiwan will relax import controls on more foreign goods a government spokesman said today the move was to allow greater access to taiwan markets by overseas trading partners especially the united states an official of the council for economic planning and development told reuters import curbs on about foreign goods including stationery and books would soon be relaxed he said taiwan announced it would ease curbs on some farming and industrial products last month the official said the moves were intended to balance trade between taiwan and the united states and other trading partners taiwan s trade surplus reached a record billion dlrs last year up from billion in reuter 
crude	most japan firms not renewing iran term contracts most japanese companies have decided not to renew term contracts to lift iranian crude oil because spot prices remain considerably lower than opec s official levels industry sources said they said a cargo of the mideast benchmark crude dubai traded yesterday at dlrs a barrel compared to its official price of dlrs only one japanese company has renewed its term contract for iranian crude oil for the second quarter the sources said the sources said japanese companies had been lifting a total of about barrels per day bpd of iranian crude under term contracts but only one firm has agreed to lift in the second quarter it is lifting just to bpd they said this move could inspire iran to offer discounts on cargoes loading in april but the likelihood of discounts depended largely on the levels of spot prices if the spot price of dubai goes above dlrs we would probably buy iranian crude at the official price one japanese refiner said we don t intend to put pressure on them he added buyers have little incentive to renew contracts to lift oil at official opec prices while spot prices on all grades are considerably lower oil traders said they said if spot prices move higher there will be no problem finding opec crude to purchase at the official prices qatar has chartered floating storage for its crude oil after finding no buyers at official prices in march the problem is likely to recur in april adding to that country s surplus the traders added that iraq had dissociated itself from opec s december production agreement while agreeing to the fixed prices but oil analysts said if opec keeps group output close to its first half ceiling of mln bpd supply and demand would be balanced by the end of the second quarter they also said if opec holds its official price structure based on a reference price of dlrs spot price fluctuations should be limited to a to dlrs range for dubai and a to dlrs range for the north sea s brent blend one japanese refiner said at the moment there s a lot of pressure on opec particularly on qatar but if they hold out there will be no problem and i m beginning to trust their ability nigerian oil minister and opec president rilwanu lukman told a news conference in lagos yesterday nigeria and all member countries of opec remain determined to uphold the december agreement by adhering strictly to their various quotas and official selling prices he said opec believed consumers had drawn heavily on stocks of both crude oil and refined products reducing them to levels well below this time last year he said consumers would soon return to the market in search of crude a japanese refiner said the european and u s markets are beginning to look better so opec might be quite lucky 
earn	possis poss votes pct stock dividend possis corp said its board approved a pct stock dividend payable may one record march at the company s annual meeting wednesday possis said shareholders approved a proposal to increase the authorized common shares to mln from eight mln the company currently has about mln shares outstanding reuter 
earn	seal inc sinc st qtr jan net shr cts vs cts net vs sales vs reuter 
earn	dow chemical co dow regular dividend qtly div cts vs cts prior pay april record march reuter 
earn	telco telc delays defensive rights offering telco systems inc said its plan to distribute a dividend of common stock purchase rights to shareholders of record on march has been delayed pending the completion of necessary regulatory approvals reuter 
acq	clayton and dubilier new joint unit to buy firm clayton and dubilier inc and senior management of a unit of borg warner corp bor said it will form a new company to buy borg warner s industrial products group for about mln dlrs borg warner industrial products has sales of about mln dlrs from three divisions which provide advanced technology fluid transfer and control equipment systems and services worldwide clayton said the new company will have employees and be headquartered in long beach calif the company said peter valli vice president of borg warner corp and president of its industrial products division will become president and chief executive officer of the new company according to clayton clayton a private investment firm said this was the third mangement buyout of a divestiture completed by them since december reuter 
earn	u s health inc ushi nd qtr jan net shr cts vs seven cts net vs revs mln vs mln st half shr cts vs cts net vs revs mln vs mln reuter 
earn	k mart corp th qtr shr dlrs vs nine cts 
earn	environmental systems co esc st qtr jan shr cts vs cts net vs revs mln vs mln note share after preferred dividends reuter 
earn	general mining genm j cautions on profits general mining union corp ltd chairman derek keys cautioned that profits may not rise this year if the rand stays at its current level of u s cents we would do well to repeat last year s results if the rand stays depressed keys said the level of the dividend however ought not to be affected he added discussing the outlook general mining earlier reported that per share earnings rose pct to cts reuter 
earn	colgate palmolive co cl sets payout qtrly div cts vs cts pay may record april reuter 
earn	isco inc isko nd qtr ends jan net shr cts vs cts net vs revs vs six mths shr cts vs cts net vs revs mln vs mln reuter 
acq	borg warner bor to sell unit for mln dlrs borg warner corp said it agreed to sell its industrial products group to clayton and dubilier inc and senior management of the group for about mln dlrs clayton and dubilier is a new york based private investment firm which has completed two other management led buyout transactions since december borg warner s industrial products group based in long beach california has sales of about mln dlrs and employs about staff its businesses include standard and custom engineered centrifugal pumps and mechanical seals for the petroleum industry and advanced controls for the aerospace and defense industries the sale is part of borg warner s planned restructuring the proposed sale is subject to approval by borg warner s directors it said reuter 
acq	guardian morton shulman agrees to takeover bid guardian morton shulman precious metals inc said morton shulman and guardman investment management services inc agreed in principle for andrew sarlos to make a takeover bid for all special shares and series ii warrants of guardian morton subject to regulatory approval and completion of definitive documentation guardman investment current manager and owner of all common shares of guardian morton also agreed to sell the common and its management agreement to a company controlled by sarlos if the takeover bid is successful guardian morton said price to be offered for the guardian morton special shares under the takeover bid will be pct of the net asset value of the special shares at the time of the bid and two dlrs for each series ii warrant the company said guardian morton said the takeover bid will be conditional on sarlos acquiring at least pct of the special shares and pct of the series ii warrants when combined the number of special shares and warrants owned by the offeror at the time of the bid investment companies managed by sarlos currently own slightly less than pct of guardian morton s special shares reuter 
earn	k mart corp km th qtr jan net shr dlrs vs nine cts net vs revs billion vs billion avg shrs vs year shr dlrs vs dlrs net vs revs billion vs billion avg shrs vs note latest year earnings include a loss in each period of mln dlrs or cts a share for a premium paid in the early call of a mln dlr pct year debenture earnings include a gain from discontinued operations of mln dlrs or cts a share vs a loss of mln dlrs or dlrs a share in the quarter and a gain of mln dlrs or cts a share vs a gain of mln dlrs or dlrs a share for the year reuter 
earn	dorchester hugoton ltd dhulz raises payout qtly div cts vs eight cts prior pay april record march reuter 
acq	international american home sets acquisition international american homes inc said it has contracted to acquire diversified shelter group ltd for about dlrs to be paid pct in cash and pct in international american common stock to be valued on a day trading average prior to closing it said the price is based on diversified s estimated mln dlrs pro forma pre tax earnings for after adjustment for certain non continuing expenses diversified a developer of single family housing in the atlanta market had revenues of about mln dlrs the acquisition if subject to international american arranging financing reuter 
earn	precision aerotech inc par rd qtr jan net oper shr cts vs two cts oper net vs sales vs avg shrs vs nine mths oper shr cts vs cts oper net vs sales mln vs mln avg shrs vs note current year net both periods excludes dlr gain from retirement of notes backlog mln vs mln at start of fiscal year reuter 
earn	guardian national insurance co ltd garj j year shr cts vs cts final div cts vs making cts vs pre tax mln rand vs mln net mln vs mln tax mln vs mln gross premiums mln vs mln net premiums written mln vs mln underwriting loss mln vs loss mln div pay april register march note period year to december reuter 
earn	datametrics corp dmcz st qtr jan net shr diluted five cts vs cts net vs revs vs avg shrs diluted vs note net includes tax credits of dlrs vs dlrs reuter 
earn	wiener enterprises inc wpb year jan net shr cts vs cts qtly div cts vs cts prior net vs sales mln vs mln note dividend pay april record april nine reuter 
earn	k mart km says record net turning point k mart corp said its record fiscal net earnings of mln dlrs a rise from mln dlrs a year ago marked a major turning point for the world s second biggest retailer k mart said the earnings rise for the fourth quarter ended january to mln dlrs from mln dlrs resulted from merchandising refurbishing and expense control a year ago k mart took a charge of mln dlrs for discontinued operations earnings from continuing retail operations in the quarter totalled mln dlrs or dlrs a share compared with mln dlrs or dlrs a year ago k mart chairman bernard fauber said the success of these programs is better illustrated by the strong pct increase in income from continuing operations before income taxes to billion dlrs the first time k mart corp has reached this milestone sales for the fiscal year reached a record billion dlrs an pct rise from billion dlrs the prior year k mart said was restated to account for discontinued operations comparable store sales rose pct in over it said fauber said the sales growth came from greater consumer acceptance of k mart s apparel merchandise a marked increase in hardline merchandise sales and a growing contribution from specialty retailing operations k mart said its fourth quarter pre tax income from continuing operations was mln dlrs a pct gain from mln dlrs last year it said sales in the period grew pct to billion dlrs from a restated billion dlrs in with comparable store sales up pct k mart said its effective tax rate rose in to pct from pct in but it said selling general and administrative expense eased to pct of sales from pct in our performance in marks a major turning point for k mart fauber said in a statement in the years immediately prior to we focused on changing the look of our stores and the structure of the company k mart he said committed billion of dollars for store remodeling and installing a centralized point of sale system upgraded its merchandise mix acquired three large specialty retailers divested underperforming businesses and restructured its long term debt we were forced to pay a temporary price in the form of slower earnings growth and a lower rating by the investment community however beginning with the fourth quarter of our improved performance is proof that our approach is correct for the long term the k mart chairman said reuter 
acq	dainippon ink to invest in quixote quix quixote corp said dainippon ink and chemicals inc of japan will buy shares of quixote common stock a pct stake for mln dlrs or dlrs a share it said the two companies also agreed to share the results of their research and development activities in optical disc technology dainippon inc s optical disc technology focuses on the development of a new direct read after write optical disc and an advanced erasable optical disc quixote said its wholly owned subsidiary laservideo inc is making advancements in the art of mastering and manufacturing compact discs cd roms and laser read videodiscs quixote said the agreement with dainippon which has annual sales of more than two billion dlrs provides for a dainippon representative to sit on the laservideo board of directors reuter 
earn	circuit city stores inc cc sets quarterly qtly div cts vs cts prior pay april record march reuter 
acq	knoll to buy american savings aaa shares american savings and loan association of florida said knoll international holdings inc has offered to purchase new shares of american savings for mln dlrs and the board has accepted knoll s offer knoll already owns shares or pct of american savings american savings said the purchase will resolve a previously announced disagreement between american savings and the federal home loan bank of atlanta on the replacement of the capital american savings used to repurchase common shares in january from former chairman marvin l warner it said completion of the transaction would give knoll pct ownership in american savings american savings said knoll also had talks with chairman of the executive committee shepard broad and chairman morris broad on the purchase of their american savings shares as well at dlrs each but no agreement was reached american savings said the company said knoll s offer to buy the new shares is not conditioned on other purchase of common stock from any person or entity it said its previously announced engagement of salomon inc sb to evaluate alternatives to enhance shareholder values including the possible sale of american savings is still being actively pursued reuter 
acq	merrill lynch mer canada mulls buying broker merrill lynch canada inc wholly owned by merrill lynch and co is considering acquiring another canadian securities company as the result of federal and provincial government moves to lift investment dealer ownership restrictions on june according to a published report we re talking to a number of people merrill lynch canada deputy chairman e duff scott told the toronto star whether we re going to do something i don t know he said a merrill lynch canada spokesman declined to comment on the newspaper report when queried scott did not disclose which investment dealers merrill lynch canada was considering acquiring but the toronto star quoted unidentified industry sources as saying serious discussions have already been held with burns fry ltd burns fry chairman jack lawrence told the newspaper the investment dealer has not made a final decision but was examining three or four alternatives discussions between brokers about possible mergers is to be expected pending industry deregulation one investment industry source who asked not to be named told reuters it s silly not to take a look at making a merger or acquisition if you re a businessman you have to take a look the industry source said under federal and provincial government regulations expected to be in place by june banks trust companies and foreign companies will be allowed to acquire existing investment dealers or establish their own securities subsidiaries reuter 
acq	most american aggregates amag stock acquired consolidated gold fields plc s arc america corp subsidiary said it has acquired american aggregates corp shares about pct of those outstanding as a result of its tender offer which expired february as soon as is practicable arc america will acquire american aggregates converting the company s remaining shares into the right to receive dlrs a share reuter 
acq	biotech capital bitc to buy magazine biotech capital corp said it agreed to buy high technology magazine from the goldhirsh group of boston terms were not disclosed the magazine publishes information about emerging technologies and their impact on business it has a circulation of and is the largest of its kind in the world the company said reuter 
trade	pakistan s trade deficit narrows in february pakistan s trade deficit narrowed to billion rupees provisional in february from billion final in january and compared with billion in february the federal bureau of statistics figures show exports fell to billion rupees provisional in february from billion final in january and compared with billion in february imports fell to billion rupees provisional in february from billion final in january and compared with billion in february reuter 
earn	corrected insituform of north america inc insua th qtr shr nine cts vs four cts net vs revs vs avg shrs vs year oper shr cts vs cts oper net vs revs mln vs avg shrs vs note year net excludes dlr tax credit corrects march item to exclude tax credit reuter 
earn	colgate palmolive co cl sets quarterly qtly div cts vs cts prior pay may record april reuter 
earn	co operative bancorp cobk raises quarterly qtly div cts vs cts prior pay april record march reuter 
earn	wilcox and gibbs inc wg sets payout semi div cts vs cts prior pay april record march reuter 
crude	saudi output said at year low to help opec saudi arabian oil output has fallen to its lowest level in more than a year giving fresh evidence of the kingdom s determination to keep oil prices at dlrs a barrel as agreed by opec last december oil industry sources said they said saudi output in the first eight days of march averaged mln barrels per day bpd including oil from the neutral zone shared with kuwait compared to a february average of mln bpd they said saudi arabia was also selling oil from its crude oil stocks in tankers around the world which opec says must be counted towards a member s production quota saudi arabia s quota is mln bpd the lower production levels indicated saudi arabia the world s largest oil exporter was insisting on getting opec official prices even at the cost of lower production the sources said king fahd reiterated yesterday in an interview with reuters and the television news agency visnews the saudi commitment to opec s december pact to boost oil prices to an average dlrs saudi arabia is completely sticking to opec decisions he said the sources said the kingdom s exports from gulf ports averaged one mln bpd during the eight days ending last sunday down from a february average of mln bpd they said saudi arabia was allowing production to fluctuate with lifting nominations and was not trying to maintain artificially high levels by putting oil into storage the kingdom s main buyers the four u s oil firms with past stakes in the national oil company aramco mobil exxon texaco and chevron enjoy considerable flexibility in the timing and volume of their liftings but are bound to pay official prices the sources said spot market prices have firmed in the past two weeks but still remain below opec levels and major buyers have delayed liftings in the hope they would improve the sources said they expected low early march output to pick up towards the end of the month as buyers sought to fulfill their contractual obligations reuter 
acq	leader ldco buys petrosurance stake leader development corp said it has purchased shares of convertible preferred stock in petrosurance inc for dlrs in cash and real estate petrosurance specializes in property and casualty insurance for the oil industry leader said the stock is convertible into a petrosurance common leader said it already owns pct of petrorusrance and conversion would give it about pct the company said petrosurance will use the sale proceeds to support growth and improve the structure of its reinsurance treaties to retain a larger part of premiums written reuter 
earn	federal realty investment trust frt in payout qtly div cts vs cts prior pay april record march reuter 
earn	beauticontrol cosmetics inc buti st qtr net qtr ends feb shr cts vs cts net vs revs vs reuter 
earn	old dominion systems inc odsi st qtr jan shr loss cts vs profit five cts net loss vs profit revs vs reuter 
trade	sweden sets october deadline for s africa boycott sweden announced its promised program of unilateral economic sanctions against south africa and gave firms an october deadline to cut trading links foreign trade minister anita gradin said a trade boycott of south africa and neighbouring namibia would take effect from july followed by a three month period of grace to give companies time to wind down their operations from october no direct trade would be allowed in either direction with certain exceptions covering medical supplies and printed matter gradin told a news conference she said exceptions would also be granted in cases where a swedish trade boycott would benefit south african firms and disadvantage south africa s black ruled neighbours the front line states gradin cautioned that legislation upon which the boycott would be based was not impossible to get round she said a parliamentary committee would investigate ways of closing some of the bigger loopholes including indirect trade with south africa via swedish subsidiaries in third countries reuter 
earn	fidelity national financial inc fnf st qtr jan end shr profit cts vs loss not given net profit vs loss revs mln vs mln avg shrs vs reuter 
earn	british telecom cautious on earnings prospects british telecommunications plc s bty l profit growth prospects for the coming years will be reduced by increasing competition and continued costs for replacing old telephone systems deputy chairman graeme odgers said speaking at a news conference on the third quarter results which were released earlier today odgers said the company faced heavy costs for installing new digital telephone systems in britain for three to five years he said mercury communications ltd a cable and wireless plc cawl l subsidiary was becoming a significant competitor odgers said mercury was seeking to make inroads into some of british telecom s most profitable areas one company official privately estimated that british telecom still had a pct share of the u k telecommunications market but feared that this could slip to or pct the recent two and a half week engineering strike which lead to some disruption in service could well have encouraged clients to consider using the mercury system odgers said however he forecast that the last quarter s results overall should not be adversely affected by the walkout he calculated salary savings as a result of the strike at mln stg and while loss of income on telephone calls should be limited revenue probably dropped on peripheral activities but on balance odgers said that group s financial strength economies of scale and the fact that it operates in a growth industry will help produce annual profit increases for the forseeable future british telecom will also seek to expand into manufacturing he said adding that research and development expenditure will rise both in terms of value and compared with the current proportion of two pct of overall turnover analysts said the company s downbeat forecasts helped shares dip to p in mid afternoon down p from yesterday s close and off an early high of p philip augar of stockbrokers wood mackenzie and co ltd said the market expects slower profit growth but forecast a seven to eight pct rise in both earnings per share and pretax profit over the next two years in the financial year pre tax profit rose to billion stg from billion augar noted that a government imposed formula linking charges to inflation meant that the company s scope for raising prices was limited as long as inflation remains low reuter 
earn	tenney engineering inc tny th qtr net shr two cts vs nine cts net vs revs vs mths shr cts vs cts net vs revs mln vs mln reuter 
earn	modern controls inc mocon th qtr net shr cts vs cts net vs sales mln vs mln year shr cts vs cts net vs sales mln vs mln reuter 
acq	instinet inet sets meeting on merger instinet corp said its board has scheduled a special shareholders meeting for may to vote on its proposed merger into reuters holdings plc rtrsy it said shareholders of record as of april will be eligible to vote at the meeting instinet said the meeting date is subject to adjustment based on the length of time needed for the u s securities and exchange commission to complete its review of the filing of merger proxy materials which instinet expects to make before the end of march instinet said the filing of the preliminary merger proxy materials is tied to the finalization of audited financial statements of instinet and reuters for under a merger agreement entered into in november reuters tendered for up to mln instinet common shares or about pct of those not already owned by reuters as a result of the tender reuters now owns about pct of instinet shares in the merger holders of remaining instinet shares will receive dlrs of reuters american depositary shares for each instinet share the ads s will be valued at the average of their closing prices in the trading days before the effective date of the merger instinet said it expects the merger to become effective as soon as possible after shareholder approval at the special meeting reuter 
earn	dayton hudson corp th qtr oper shr dlrs vs dlrs 
acq	union pacific says will sign pact in caracas on march for sale of half its corpus christi refinery 
acq	cyacq offers to raise cyclops buyout to dlrs shr from dlrs 
acq	waste management says waiting period ends on its chemlawn bid 
earn	petrie stores corp pst regular payout qtrly div cts vs cts prior pay april record april reuter 
earn	unilever fragrance unit has lower earnings the flavours and fragrances firm naarden international n v acquired by anglo dutch food and detergents group unilever plc n v un as last year said net profits for fell pct to mln guilders naarden said earnings were hit by the fall in the value of both the dollar and sterling noting the figure was in line with prior expectations net profit was mln guilders in earnings per share fell to guilders from in on turnover of mln down from mln naarden set a cash dividend of guilders unchanged from last year but without last year s share option for payment reuter 
earn	eagle pitcher industries inc epi st qtr net shr cts vs cts net vs revs mln vs mln avg shrs mln vs mln reuter 
earn	rpt insituform of north america inc insua net th qtr shr nine cts vs four cts net vs revs vs avg shrs vs year oper shr cts vs cts oper net vs revs mln vs avg shrs vs note year net excludes dlr tax credit reuter 
money-fx	fed says it sets two billion dlrs of customer repurchase agreements 
acq	waiting period ends on waste management wmx bid waste management inc said it received notice of early termination of the hart scott rodino waiting period for its mln dlr takeover bid for chemlawn corp chem the waiting period was terminated march waste management said chemlawn has rejected waste management s dlrs a share bid it has said it was talking with other parties about selling its business reuter 
earn	asa ltd asa st qtr feb net shr dlrs vs dlrs net mln vs mln note net asset value per share dlrs vs dlrs reuter 
acq	investors to raise cyclops cyl tender price cyacq corp an investor group bidding for cyclops corp said it would raise its outstanding tender offer price for cyclops common to dlrs a share from dlrs if certain conditions were met the increased offer would exceed the dlrs a share price offered by dixons group plc in a tender offer for cyclops that is part of a definitive agreement to acquire the pittsburgh based maker of carbon tool and specialty steel products cyacq includes audio video affiliates inc and citicorp capital investors ltd and other investors cyclops has about mln shares outstanding for the tender price to be raised cyclops must provide cyacq with all non public information provided to dixons group and cyacq must be satisfied with financial projections made in offering material by dixons based on the information cyacq said additionally dixon group s rights to buy cyclops common and its rights to fees or expenses if the dixon cyclop merger agreement is broken must be rescinded cyacq said cyacq said financial projections it developed for cyclops were materially lower than the financial projections provided by cyclops to dixons group a cyclops spokeswoman said the company had no details of the new cyacq proposal and could not comment we have nothing in hand she said in addition to making specialty metal products cyclops also operates about specialty stores that sell consumer electronics products the stores are located in states concentrated in the northeast northwest and southwest cyclops employs about people in pennsylvania ohio and other states it also has interests in non residential construction in cyclops earned mln dlrs or dlrs a share on sales of billion dlrs compared to earnings of mln dlrs or dlrs on sales of billion the spokeswoman said the agreement with dixons group calls for cyclops s steel and construction businesses to be sold to a unit of alleghany corp y for about mln dlrs once the merger is completed a cyacq spokesman said the new conditional tender price would be all cash he had no comment on whether cyacq plans to withdraw its current offer which is scheduled to expire midnight on march six dixon group s offer extends to march reuter 
earn	dayton hudson corp dh th qtr jan oper net oper shr dlrs vs dlrs oper net vs revs billion vs billion year oper shr dlrs vs dlrs oper net vs revs billion vs billion note period ended february one note results exclude earnings from discontinued operations of mln dlrs or nine cts a share vs mln dlrs or three cts a share in the quarter and mln dlrs or two cts a share vs mln dlrs or three cts a share for the year earnings exclude gain on sale of b dalton bookseller of mln dlrs or cts a share in each period earnings exclude extraordinary charge from purchase and redemption of debt of mln dlrs or cts a share in the quarter and mln dlrs or cts a share for the year reuter 
earn	vse corp vsec th qtr net shr cts vs cts net vs revs mln vs mln year shr dlr vs dlr net vs revs mln vs mln note th qtr and year net includes income loss of metcap subsidiary of dlrs and dlrs or cts per share respectively th qtr and year net includes loss in metcap unit of dlrs and dlrs or cts per share respectively reuter 
acq	security pacific spc buys orbanco orbn security pacific corp said it completed its previously announced acquisition of orbanco financial services corp after receiving federal approval of the deal security pacific said the federal reserve board approved on wednesday its purchase of the portland ore based bank holding company and financial services concern the purchase of orbanco for about mln dlrs in cash and common stock will be effective in days a security pacific spokeswoman said terms call for each share of orbanco common stock to be exchanged for about dlrs of security pacific common stock plus dlrs cash each share of orbanco s dlr par value preferred stock will be exchanged for dlrs cash plus accrued dividends orbanco with one billion dlrs in assests is the holding company for the oregon bank orbanco real estate service co american data service inc and orbanco securities corp security pacific now has four major regional bank purchases outside california completed or pending security pacific bought the arizona bank with assets of four billion dlrs in the fourth quarter of pending approval currently is the purchase of rainier bancorporation rban with assets of billion dlrs in anticipation of legislative changes that take effect in security pacific has also negotiated the future purchase of the nevada bank with assets of mln dlrs security pacific is the sixth largest u s bank holding company with assets of about billion dlrs reuter 
earn	dranetz technologies inc dran year dec net shr cts vs cts qtly div six cts vs six cts prior net vs revs mln vs mln note net includes one time charge of dlrs or five cts a share from discontinuation of boat sentry and lakontek products qtly div payable april to shareholders of record march reuter 
earn	lands end inc leys year jan net shr dlrs vs dlrs net vs sales mln vs mln avg shrs vs note earnings are pro forma including the increase in common shares that took place last october when the company went public through an initial offering of mln shares avg shrs assume the shares sold to public and employees were outstanding during the entire period reuter 
acq	bancroft bcf sues zico zico investment holdings inc said that bancroft convertible fund inc filed suit seeking to enjoin zico s dlr a share tender offer for bancroft shares in its complaint bancroft said the tender offer materials and letters to shareholders are false and misleading and that the tender offer violates the investment company act of zico said the suit is totally without merit and vigorously intends to contest it a motion is scheduled to be heard on march reuter 
earn	seaboard corp seb week year net shr dlrs net mln revs mln note company changed its reporting period to dec from may it said prior year comparisons were thus not applicable reuter 
ship	turkish ship headed for florida after explosion the turkish ore bulk oil vessel obo engin tonnes dwt had an explosion in its boiler yesterday lloyds shipping intelligence service reported the vessel has retained some power and yesterday evening was in position lat n long w it is diverting to jacksonville florida with its cargo of tons of coal the vessel was bound for iskenderun turkey from lake charles reuter 
earn	reuter inc reut th qtr shr cts vs six cts net mln vs revs mln vs mln year shr cts vs cts net mln vs revs mln vs mln note net includes mln dlrs in tax loss carryback reuter inc is a spindle maker it is not connected with reuters holdings plc reuter 
earn	centel corp cnt regular payout set qtly div cts vs cts previously pay april record april seven reuter 
crude	mobil mob to restructure exploration unit mobil oil corp said it will restructure its dallas based mobil exploration and producing services inc operations april one to provide stronger technological support to its u s and overseas operations mobil said the operation will consist of two new units technical services and application technology along with the existing drilling and new exploration ventures groups it said r c mills president and general manager of its exploration and producing southeast inc has been named vice president and general manager of the new operation reporting to p j hoenmans president of its exploration and producing division reuter 
earn	equity oil co eqty th qtr loss shr loss nine cts vs profit cts net loss vs profit revs vs year shr loss six cts vs profit cts net loss vs profit revs mln vs mln note per share figures reflect five pct stock dividend paid december reuter 
earn	fn results hit by strikes dollar in fabrique nationale herstal sa fnhb br said it suffered a net loss of billion francs last year after being hit by strikes the falling dollar and declining oil prices an fn statement said the loss which compared with a mln franc profit the previous year included considerable charges for restructuring in and without these the net loss would have been billion francs it said it added that the restructuring plan would allow the firm to return to long term profitability once it had been approved by local authorities banks and the workforce reuter 
acq	millipore mili acquires equity in protein protein databases inc said millipore corp through its venture capital subsidiary millicorp acquired an equity position in the company protein said it and millipore intend to establish an interactive relationship no other details were disclosed about the amount of millipore s investment in protein reuter 
crude	wildlife unit proposes alaska refuge oil study the national wildlife federation rejected an interior department draft plan to open wilderness lands in northern alaska to oil and gas exploration the federation the nation s largest conservation group said further study was needed to assess any possible damage that development might have on the wildlife in the area the coastal plain of the arctic national wildlife refuge jay hair the federation s executive vice president called the interior s research into the effects of development so fundamentally flawed that it provides little or no basis on which to make a public policy decision hair called the department s proposal a reflection of a largely political decision adding we have no confidence in interior to represent the broad public interest in this area interior wants to open the million acre coastal plain to oil and gas exploration but it said only with tough safeguards to protect the area s caribou and musk oxen it said a preliminary survey showed the region could hold billions of barrels of oil and gas and that its potential as an energy resource would never be known without exploration interior said oil on the coastal plain could match the billion barrels found at prudhoe bay just west of the plain under existing law congress must agree to oil and gas exploration and if it does not act the land will remain a wildlife refuge protected from commercial development hair said interior s report failed to stress the probability that finding recoverable oil is only pct he said interior s study also failed to weigh oil gas fish and wildlife information the state of alaska had gathered nor had the department consulted the environmental protection agency on the possible effects of exploration the federation in letters to congressmen proposed that a nine member commission be set up to study all aspects of the issue and report back to congress in about two years hair said the federation was not opposed to the possible exploration of oil only that interior s study was inadquate to make a sound judgement congressional observers said that at present there was little sentiment in congress to open the wildlife area for commercial exploitation dispite increasing concern that the united states is becoming overly dependent on foreign oil reuter 
earn	gemini food corp six mths january net shr profit one ct vs loss one ct net profit vs loss revs mln vs mln reuter 
acq	merrill lynch mer fires vaskevitch merrill lynch and co inc fired the head of the mergers department in its london office today saying he had been unable to provide a satisfactory explanation in response to insider trading charges filed yesterday by the securities and exchange commission merrill had suspended the official nahum vaskevitch yesterday saying at the time it was disappointed and angry if the sec charges are true merrill lynch s statement at midday today said the firm will continue to cooperatie fully with authoriteis in the u s and london investigating vaskevitch s activities reuter 
earn	lincoln national corp lnc votes dividend qtly div cts vs cts prior qtr pay may record april reuter 
ship	st lawrence seaway to open on schedule the st lawrence seaway and the welland canal linking lakes erie and ontario were expected to open as scheduled on march and april respectively a st lawrence seaway official said the entire seaway is already free of ice due to the mild winter and could be open for navigation today but there doesn t seem to be enough demand from shipping companies to warrant an early opening the canadian official said repairs are continuing at a stepped up pace on the welland canal and should be completed by the april start up date she added reuter 
earn	lvi group inc lvi th qtr net oper shr profit two cts vs loss cts oper net profit vs loss mln revs mln vs mln mths oper shr profit cts vs loss cts oper net profit mln vs loss mln revs mln vs mln note all and last two months of include results of nico inc acquired oct prior year excludes discontinued operations loss of cts per share in the quarter and loss cts a share in the year excludes extraordinary gain of two cts per share in the quarter and four cts per share in the year reuter 
earn	protocomdevices prcm sees more profit erosion protocomdevices inc said it has seen more erosion of its general financial condition since december and is actively engaged in negotiations to secure additional financing it also said it has undergone a restructuring of its management and is instituting further staff reductions it said ramon morales has relinquished his role as president and chief operating officer and assumed the position of executive vice president in charge of international sales it also said rafael collado has assumed the positions of president and chief operating officer in addition to his role as chief executive officer for the year ended january the company had a net loss of dlrs or cts a share on revenues of mln dlrs reuter 
earn	paradise fruit co inc parf year net shr cts vs cts net vs sales mln vs mln note year net penalized cts shr from loss of investment tax credits reuter 
earn	samson energy co limited partnership sam year net loss vs loss revs mln vs mln notes loss includes write down of mln dlrs in the carrying value of oil and gas properties taken in the first quarter cash flow from operationswas dlrs or dlrs per unit vs dlrs or dlrs per unit reuter 
earn	acceleration corp acle th qtr shr cts vs cts net mln vs year shr cts vs cts net mln vs mln note net includes tax loss carryforward gain of dlrs reuter 
earn	energy optics inc nd qtr jan net shr profit nil vs loss five cts net profit vs loss revs vs st half shr profit one ct vs loss cts net profit vs loss revs vs reuter 
acq	blue gass breeders blgr completes acquisition blue grass breeders inc said it has completed the acquisition of equine enterprises inc for four mln common shares it said it is obligated to deliver another shares on the attainment of a certain level of shareholders equity during any fiscal quarter within months of closing if all the contingent shares are issued blue grass said former owners of equine will have a pct interest in blue grass equine is a new mexico quarter horse breeding and racing company reuter 
earn	digimed corp nd qtr dec loss shr loss two cts vs loss five cts net loss vs loss sales vs avg shrs vs six mths shr profit four cts vs loss cts net profit vs loss sales vs avg shrs vs reuter 
earn	flight international group inc flti rd qtr periods ended january shr profit cts vs loss cts net profit vs loss revs vs nine mths shr profit cts vs loss three cts net profit vs loss revs mln vs mln note year ago revenues include dlrs in quarter and dlrs in nine months from operations of subsidiary sold in april reuter 
earn	nord est plans mln franc bond issue financial and industrial holding company nord est plans to make a convertible bond issue for a total of mln francs president gustave rambaud said he told a news conference nord est expected to receive approval from the bourse supervisory body cob in the next two week when terms would set according to market conditions he said the issue was meant to boost capital ahead of new investments rambaud said the company would pay a dividend of francs unchanged on parent company net profit last year rose to mln francs against mln in provisional consolidated profits were lower at mln francs compared with mln in of which mln against mln was attributable to the group he said the lower profit was mainly due to losses made by steel tube maker vallourec in which nord est has a pct stake rambaud said he forecast a parent company net profit before provisions of around mln francs reuter 
crude	solv ex solv shell canada shc pact complete solv ex corp said it successfully completed its oil sands pilot testing program under its agreement with shell canada limited shc and received a u s dlr bonus payment it also said that shell canada exercised its option to take over solv ex s pct working interest in the construction of the oil facility relieving it of its obligation to raise about mln canadian dlrs for plant construction it said pct of that loan was guaranteed by the government of alberta in exchange for shell s participation solv ex said shell is obligated to pay it an up front royalty and a running royalty based on the operating profits of the oil sands facility it said the shell canada barrel per day oil sands project will be built on shell s oil sand lease about miles north of fort mcmurray in the athabasca region of northern alberta solv ex said the project will cost about mln canadian dlrs it said that following a final feasibility study the plant should open in the early s when oil prices are expected to exceed u s dlrs per barrel reuter 
acq	purolator pcc director quits over buyout a purolator courier corp director resigned from the company s board saying he plans to take steps to make or find an offer that tops the mln dlr buyout deal already accepted by purolator s board the company said the director doresy gardner resigned in a march letter to the purolator board which was included in a filing made by the company to the securities and exchange commission gardner noted that the terms of the merger agreement in which the company would bought out by a group of its managers and e f hutton lbo inc bar directors from taking action to solicit initiate or encourage acquisition proposals i as a shareholder wish to solicit initiate or encourage such an offer or indication of interest and believe therefore that i should resign as a director of the corporation gardner said in the letter accordingly i hereby resign as a director of purolator courier corp effective immediately he said gardner said he believes shareholders could get a better deal than the buyout offer if the company would agree to be sold to some other entity or if it could sell off all or part of its u s courier division on march another purolator shareholder rodney shields filed a class action suit on behalf of the company s shareholders charging the company and its board with breaching their fiduciary duty by failing to take steps to ensure that shareholders got the highest possible price in the buyout the deal would give shareholders dlrs a share in cash if just pct of purolator s mln shares are tendered if more are tendered they would receive dlrs in cash and six dlrs in debentures and a warrant to buy stock in the new company in exchange for each share reuter 
earn	unr industries inc unriq th qtr net shr profit cts vs profit cts net profit vs profit sales mln vs mln year shr profit dlrs vs loss dlrs net profit vs loss sales mln vs mln reuter 
acq	century telephone ctl to sell properties century telephone enterprises inc said it has accepted an offer to sell its cable television properties in michigan tennessee florida arkansas and louisiana for a substantial gain the company said details were not disclosed reuter 
earn	volt information sciences inc volt st qtr shr cts vs seven cts net vs revs mln vs mln avg mln vs mln note net includes mln dlr pretax gain on settlement dlrs gain on securities sale interest expense net of investment income of mln dlrs and dlrs in fiscal change of european operations method resulted in pre tax translation losses of mln dlrs in period ended january reuter 
earn	paradise fruit parf sets lower dividend paradise fruit co inc said its board declared a dividend of cts per share payable march to holders of record march the company last paid cts per share in january and before that paid cts in january paradise said commercial bank lending agreements it entered into in june include retained earnings requirements that limit the amount of earnings available for distribution to shareholders reuter 
earn	canada malting co ltd year net oper shr dlrs vs dlrs oper net mln vs mln sales mln vs mln note excludes extraordinary loss of mln dlrs or dlrs per share reuter 
earn	north american holding corp nahl rd qtr net dec end shr profit nil vs loss four cts net profit vs loss revs vs avg shrs mln vs mln nine mths shr profit six cts vs loss seven cts net profit vs loss revs mln vs avg shrs mln vs mln reuter 
earn	general host corp gh sets quarterly qtly div six cts vs six cts prior pay april three record march reuter 
earn	grow group inc gro sets quarterly qtly div cts vs cts prior pay april record april reuter 
earn	digimed corp nd qtr dec loss shr loss cts vs loss five cts net loss vs loss sales vs six mths shr profit four cts vs loss cts net profit vs loss sales vs reuter 
crude	powerine refinery to resume operations powerine oil co said its refinery here will resume operation today with initial crude oil runs of barrels per day powerine a privately held company said it expects the refinery to become fully operational by may with crude oil throughput at bpd initial oil products deliveries are scheduled for monday powerine said the refinery had been closed due to a change of ownership the company said reuter 
earn	trinity industries inc trn sets quarterly qtly div cts vs cts prior pay april record april reuter 
earn	coastal bancorp csbk sets quarterly qtly div five cts vs five cts prior pay april record march reuter 
earn	idaho power co ida sets quarterly qtly div cts vs cts prior pay may record april reuter 
earn	united stationers inc ustr sets dividend qtly dividend six cts vs six cts pay april record march reuter 
earn	lincoln national corp lnc sets quarterly qtly div cts vs cts prior pay may one record april reuter 
earn	petrie stores corp pst sets quarterly qtly div cts vs cts prior pay april record april o reuter 
acq	desoto dso sells industrial chemical assets desoto inc said it sold the plant inventory and certain other assets of some of its industrial chemical operations to plastic specialities and technologies inc a privately held company headquartered in parsippany new jersey terms were not disclosed desoto s industrial chemical operations are based in fort worth texas and has annual sales of about mln dlrs reuter 
earn	safeguard health sfgd th qtr loss shr loss cts vs profit cts net loss vs profit revs mln vs mln year shr loss