earn	champion products approves stock split champion products inc said its board directors approved two for one stock split its common shares for shareholders record april the company also said its board voted recommend shareholders the annual meeting april increase the authorized capital stock from five mln mln shares reuter 
acq	computer terminal systems cpml completes sale computer terminal systems inc said has completed the sale shares its common stock and warrants acquire additional one mln shares sedio lugano switzerland for dlrs the company said the warrants are exercisable for five years purchase price dlrs per share computer terminal said sedio also has the right buy additional shares and increase its total holdings pct the computer terminal outstanding common stock under certain circumstances involving change control the company the company said the conditions occur the warrants would exercisable price equal pct its common stock market price the time not exceed dlrs per share computer terminal also said sold the technolgy rights its dot matrix impact technology including any future improvements woodco inc houston tex for dlrs but said would continue the exclusive worldwide licensee the technology for woodco the company said the moves were part 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 dlrs net assets mln mln deposits mln mln loans mln mln note qtr not available year includes extraordinary gain from tax carry forward dlrs five cts per shr reuter 
earn	international inc qtr jan oper shr loss two cts profit seven cts oper shr profit profit revs mln mln avg shrs mln mln six mths oper shr profit nil profit cts oper net profit profit revs mln mln avg shrs mln mln note per shr calculated after payment preferred dividends results exclude credits four cts and nine cts for qtr and six mths six cts and cts for prior periods from operating loss carryforwards reuter 
earn	brown forman inc bfd qtr net shr one dlr cts net mln mln revs mln mln nine mths shr dlrs dlrs net mln mln revs billion mln reuter 
earn	dean foods sees strong qtr earnings dean foods expects earnings for the fourth quarter ending may exceed those the same year ago period chairman kenneth douglas told analysts the fiscal fourth quarter the food processor reported earnings cts share douglas also said the year sales should exceed billion dlrs from billion dlrs the prior year repeated earlier projection that third quarter earnings will probably off slightly from last year cts share falling the range cts cts share douglas said was too early project whether the anticipated fourth quarter performance would enough for exceed the prior year overall earnings dlrs share douglas said dean should experience pct improvement our bottom line from effects the tax reform act alone president howard dean said fiscal the company will derive benefits various dairy and frozen vegetable acquisitions from ryan milk the larsen dean also said the company will benefit from its acquisition late december elgin blenders inc west chicago said the company major shareholder foods ltd united kingdom blender and has licensing arrangements australia canada brazil and japan provides ann entry mcdonalds corp mcd 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 three for two stock split and pct increase the company cash dividend the company cited its improved earnings outlook and continued strong cash flow reasons for raising the dividend brown forman said the split its class and class common shares would effective march the company said directors declared quarterly cash dividend each new share both classes cts payable april one holders record march prior the split the company had paid cts quarterly brown forman today reported pct increase third quarter profits mln dlrs dlr share seven pct increase sales record mln dlrs brown forman said nine month profits declined bit mln dlrs dlrs share from mln dlrs dlrs share year earlier due second quarter charge cts share for restructuring its beverage operations the company said lower corporate tax rates and the restructuring are expected substantially improve brown forman earnings and cash flow fiscal reuter 
earn	esquire radio and electronics inc qtr shr profit cts profit four cts annual div cts cts prior net profit profit revs mths shr profit cts loss cts net profit loss revs mln note annual dividend payable april stockholders record march reuter 
earn	united presidential corp upco qtr net shr cts cts net revs mln mln year shr dlrs dlrs net revs mln mln note results include adjustment dlrs cts shr for year and both periods from improvement results its universal life business than first estimated reuter 
earn	owens and minor inc obod raises qtly dividend qtly div eights cts cts prior pay march record march reuter 
earn	computer language research clri qtr shr loss cts loss cts net loss loss revs mln mln qtly div three cts three cts prior year shr profit two cts profit cts net profit profit revs mln mln note dividend payable april one shareholders record march reuter 
earn	cinram ltd qtr net shr cts cts net mln sales mln mln avg shrs year shr dlrs dlrs net mln mln sales mln mln avg shrs reuter 
earn	standard trustco sees better year standard trustco said expects earnings increase least pct from the dlrs dlrs per share recorded stable interest rates and growing economy are expected provide favorable conditions for further growth president brian malley told shareholders the annual meeting standard trustco previously reported assets billion dlrs from billion dlrs return common shareholders equity was pct last year from pct reuter 
earn	handy and harman hnh qtr loss shr loss cts loss three cts net loss loss rev mln mln months shr loss cts profit cts net loss profit rev mln mln note net loss for qtr includes charge for restructuring mln dlrs after tax cts share net loss includes after tax special charge mln dlrs cts share reuter 
acq	chemlawn chem rises hopes for higher bids chemlawn corp chem could attract higher bid than the dlrs per share offered waste management inc wnx wall street arbitrageurs said shares chemlawn shot over the counter trading with mln the company mln shares changing hands late afternoon this company could for times cash flow dlrs maybe dollars depending whether there competing bidder arbitrageur said waste management tender offer announced before the opening today expires march this totally surprise said debra strohmaier chemlawn spokeswoman the company board held regularly scheduled meeting today and was discussing the waste management announcement she said statement was expected but was not certain when would ready she was unable say there had been any prior contact between waste management and chemlawn officials think they will resist said elliott schlang analyst prescott ball and turben inc any company that doesn like surprise attack would arbitrageurs pointed out difficult resist tender offers for any and all shares for cash schlang said chemlawn could try find white knight does not want acquired waste management analyst rosemarie morbelli ingalls and snyder said servicemaster companies svm rollins inc rol were examples companies that could interested chemlawn with about two mln customers the largest company involved application fertilizers pesticides and herbicides lawns waste management involved removal wastes schlang said chemlawn customer base could valuable another company that wants capitalize strong residential and commercial distribution system both schlang and morbelli noted that high growth rates had catapulted chemlawn share price into the mid but the stock languished the rate growth slowed schlang said the company profits are concentrated the fourth quarter chemlawn earned dlrs per share for the full year and dlrs the fourth quarter morbelli noted chemlawn competes with thousands individual entrepreuers who offer lawn and garden care sevice reuter 
trade	brazil anti inflation plan limps anniversary inflation plan initially hailed home and abroad the saviour the economy limping towards its first anniversary amid soaring prices widespread shortages and foreign payments crisis announced last february the plan froze prices fixed the value the new cruzado currency and ended widespread indexation the economy bid halt the country pct inflation rate but within year the plan has all but collapsed the situation now worse than was although there was inflation least the economy worked leading bank economist said the crumbling the plan has been accompanied dramatic reversal the foreign trade account and brazil annual trade surpluses had been sufficient cover the billion dlrs needed service its billion dlr foreign debt for the first nine months all seemed target for repeat with monthly surpluses averaging one billion dlrs but exports were diverted and imports increased avoid further domestic shortages the trade surplus plunged mln dlrs october and since then has averaged under mln reuter 
ship	agency reports ships waiting panama canal the panama canal commission government agency said its daily operations report that there was backlog ships waiting enter the canal early today over the next two days expects due scheduled 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 making special distribution cts per exchangeable unit which includes cts from return capital and cts from income gains reuter 
earn	emhart corp emh qtly dividend qtly div cts cts prior payable march record march nine reuter 
earn	international cites strong prospects international inc reporting operating loss for the january second quarter said prospects for the balance the fiscal year remain good said orders its harris graphics subsidiary acquired june continue run strong pace for the six months orders rose pct over the corresponding prior year period annualized basis are running about mln dlrs the backlog harris pct from the beginning the fiscal year said international said its old division are expected benefit from recent new product introductions and the decline the value the dollar research development and engineering expenditures fiscal will the mln dlr range and the company said has allocated another mln dlrs for capital expenditures earlier reported fourth quarter operating loss two cts share compared profits seven cts share year ago revenues rose mln dlrs from mln dlrs reuter 
ship	gulf barge freight rates further call gulf barge freight rates firmed again the outlook for steady vessel loadings the gulf increasing the demand for barges supply those ships dealers said barges traded today the louis merchants exchange call session versus yesterday quotes included delivery this week the illinois river joliet pct tariff bid offered with next week same river chicago quoted the same both percentage points next week mississippi river louis pct bid offered five points next week ohio river owensboro south pct bid offered points station illinois river south chicago pct bid offered comparison march illinois chicago pct bid offered points march ohio river bid yesterday traded level pct offered march lower mississippi river memphis cairo pct bid offered comparison may illinois river chicago pct bid offered comparison sept nov lower mississippi river memphis cairo pct bid offered with sept dec same section pct bid offered comparison reuter 
earn	gulf applied gats sells units sees gain gulf applied technologies inc said sold its pipeline and terminal operations units for mln dlrs and will record gain mln dlrs the first quarter added that any federal taxes owed the transaction will offset operating loss carryovers reuter 
earn	farmers group inc fgrp qtr net shr cts cts net revs mln mln year shr dlrs dlrs net revs billion mln avg shrs reuter 
earn	potomac electric power pom jan net shr cts cts net revs avg shrs mln mln mths shr dlrs dlrs net revs billion billion avg shr mln mln note latest mths net includes gain cts per share for sale virginia service territory dominion resources inc reuter 
acq	cofab inc buys gulfex for undisclosed amount cofab inc said acquired gulfex inc houston based fabricator custom high pressure process vessels for the energy and petrochemical industries cofab said its group 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 eight cts prior pay april one record march reuter 
earn	atico financial corp atfc qtr net shr cts dlrs net mln revs mln mln year shr cts dlrs net mln revs mln mln note qtr and amounts include acquisition pct common atico formerly peninsula federal savings and loan association january qtr and net include net gain mln dlrs dlrs per share exchange common pan america banks inc for common ncnb corp purusant merger the companies reuter 
earn	philippine long distance phi year net shr primary pesos pesos shr diluted pesos pesos qtly div pesos pesos net billion mln revs billion billion note full name philippine long distance telephone figures quoted philippine pesos dividend payable april holders record march exchange rate day dividend declaration was pesos per dollar reuter 
earn	liberty all star equity fund initial div qtly div five cts payable april two record march note dividend includes special two cts per share for the period beginning with the fund commencement operations novebmer three through december reuter 
earn	combustion engineering inc csp regular div qtly div cts cts prior pay april record april reuter 
earn	tonka corp tka raises dividend qtly div two cts cts pay march record march reuter 
earn	bdm international bdm increases qtrly divs annual div class cts cts prior annual div class cts cts prior payable april one record march note full name bdm international inc reuter 
earn	systematics inc syst regular payout qtly div three cts three cts prior pay march record february reuter 
earn	ivaco inc year net shr dlrs dlrs net revs billion billion note results include extraordinary gain dlrs six cts share from secondary share offering canron unit reuter 
acq	investment firms cut cyclops cyl stake group affiliated new york investment firms said they lowered their stake cyclops corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission the group led mutual shares corp said sold cyclops common shares feb and for mln dlrs reuter 
earn	coradian corp cdin qtr net shr profit three cts loss three cts net profit loss revs year shr profit one cent loss cts net profit loss revs mln mln avg shrs reuter 
earn	meridian bancorp inc mrdn sets regular payout qtly div cts cts prior pay april one record march reuter 
acq	american express axp seen possible spinnoff american express remained silent market rumors would spinoff all part its shearson lehman brothers inc but some analysts said the company may considering such move because unhappy with the market value its stock american express stock got lift from the rumor the market calculated partially public shearson may command good market value thereby boosting the total value american express the rumor also was accompanied talk the financial services firm would split its stock and boost its dividend american express closed the new york stock exchange heavy volume american express would not comment the rumors its stock activity analysts said comments the company analysts meeting tuesday helped fuel the rumors did announcement yesterday management changes the meeting company officials said american express stock undervalued and does not fully reflect the performance shearson according analysts yesterday shearson said was elevating its chief operating officer jeffery lane the added position president which had been vacant also created four new positions for chairmen its operating divisions analysts speculated partial spinoff would make most sense contrary one variation market rumors total spinoff some analysts however disagreed that any spinoff shearson would good since strong profit center for american express contributing about pct earnings last year think highly unlikely that american express going sell shearson said perrin long lipper analytical questioned what would better investment than very profitable securities firm several analysts said american express not need cash which might the only reason sell part strong asset but others believe the company could very well considered the option spinning out part shearson and one rumor suggests selling about pct the market larry eckenfelder prudential bache securities said believes american express could have considered partial spinoff the past shearson being profitable would have fetched big premium the market place shearson book value the mln dlr range shearson the market place would probably worth three bilion dlrs terms market capitalization said eckenfelder some analysts said american express could use capital since plans expand globally they have enormous internal growth plans that takes capital you want your stock reflect realistic valuations enhance your ability make all kinds endeavors down the road said hutton group analyst michael lewis they outlined the fact that they investing heavily the future which goes heavily into the international arena said lewis that does not preclude acquisitions and divestitures along the way said lewis said american express reduced its exposure the brokerage business selling part shearson its stock might better reflect other assets such the travel related services business could find its true water mark with lesser exposure brokerage the value the other components could command higher multiple because they constitute higher percentage the total operating earnings the company said lewis said shearson contributed mln after tax operating earnings from about mln dlrs reuter 
earn	liberty all star usa sets initial payout liberty all star equity fund said declared initial dividend five cts per share payable april two shareholders record march said the dividend includes quarterly dividend three cts share and special payout two cts share which covers the period from november three when the fund began operations december the fund said its quarterly dividend rate may fluctuate the future reuter 
earn	ivaco sees minimal first quarter earnings ivaco inc said price pressure steel products particularly the and the recent increase the value the canadian dollar expected result minimal first quarter earnings said subsequent quarters should show substantial improvement from first quarter levels but earnings will not reach levels long those conditions continue ivaco earlier reported profit rose mln dlrs after one mln dlr extraordinary gain from mln dlrs the previous year said demand for the company products are continuing high levels and sales are expected show further growth revenues last year rose billion dlrs from billion dlrs reuter 
grain	grain carloadings fall week grain carloadings totaled cars the week ended february down pct from the previous week but pct above the corresponding week year ago the association american railroads reported grain mill product loadings the week totalled cars down pct from the previous week but pct above the same week year earlier the association said reuter 
acq	hong kong firm ups wrather wco stake pct industrial equity pacific ltd hong kong investment firm said raised its stake wrather corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission industrial equity which principally owned brierley investments ltd publicly held new zealand company said bought wrather common shares between feb and for mln dlrs when first disclosed its stake wrather earlier this month said bought the stock for investment purposes reuter 
earn	coleco industries inc clo qtr shr loss dls profit cts net loss mln profit mln revs mln mln year shr loss dlrs profit dlrs net loss mln profit mln revs mln mln reuter 
crude	diamond shamrock dia cuts crude prices diamond shamrock corp said that effective today had cut its contract prices for crude oil dlrs barrel the reduction brings its posted price for west texas intermediate dlrs barrel the copany said the price reduction today was made the light falling oil product prices and weak crude oil market company spokeswoman said diamond the latest line oil companies that have cut its contract 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 wholly owned subsidiary emerson electric emr under the terms the merger each liebert shareholder will receive shares emerson stock for each liebert share reuter 
earn	northern telecom proposes two for one stock split 
earn	coleco industries clc sees profit coleco industries inc said expects return profitability earlier coleco reported net loss mln dlrs for the year ended december compared profit mln dlrs the year earlier prepared statement the company said the dramatic swing operating results was due primarily the steep decline sales cabbage patch kids products from mln dlrs mln dlrs coleco said changed from single product company more diversified organization through four major acquisitions last year products from the new acquisitions and other new product introductions are expected enable return profitability said the annual toy fair earlier this month vice president morton handel said analysts projected earnings cts share sales mln dlrs are reasonable reuter 
acq	gulf applied technologies gats sells units gulf applied technologies inc said sold its subsidiaries engaged pipeline and terminal operations for mln dlrs the company said the sale subject certain post closing adjustments which did not explain reuter 
acq	investment group raises robeson rbsn stake group affiliated miami based investment firms led fundamental management corp said raised its stake robeson industries corp shares pct the total from pct filing with the securities and exchange commission the group said bought robeson common shares between jan and feb for dlrs the group said may buy more shares and plans study robeson operations afterwards may recommend that management make changes its operations fundamental management chairman carl singer was recently elected the robeson board reuter 
grain	gao likely show certs more costly than cash study grain certificates due out shortly from the government accounting office gao could show that certificates cost the government pct more than cash outlays administration and industry sources said analysis that the gao has obtained from the agriculture department and the office management and budget suggests that certificates cost more than cash payments gao official told reuters gao preparing the certificate study the specific request sen jesse helms former chairman the senate agriculture committee the report which will focus the cost certificates compared cash scheduled released mid march the cost certificates said the gao source depends the program impact the usda loan program gao determines that certificates encourage more loan entries cause more loan forfeitures then the net cost the program would however determined that certificates have caused the government grain stockpile decrease the cost effect certificates would less gao will not likely suggest whether the certificates program should slowed expanded the gao official said but negative report certificates will fuel the fire against certificates and weigh heavily least increase the certificate program agricultural consultant said the omb said against any expansion the program while usda remains firmly committed reuter 
earn	dahlberg inc dahl qtr net shr profit cts loss seven cts net profit loss revs mln year shr profit five cts profit cts net profit profit revs mln mln avg shrs mln mln note year includes weeks reuter 
earn	city national corp ctyn raises dividend shr cts cts pay april record march reuter 
earn	page petroleum ltd year loss shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note net includes nine mln dlr extraordinary loss for oil and gas writedowns and unrealized foreign exchange losses ago loss mln dlrs reuter 
earn	idb communications group inc idbx year net period ended december shr cts cts net revs reuter 
earn	armor all products corp armr quarterly div qtly div ten cts ten cts pay april record march reuter 
crude	opec may have meet firm prices analysts opec may forced meet before scheduled june session readdress its production cutting agreement the organization wants halt the current slide oil prices oil industry analysts said the movement higher oil prices was never easy opec thought they may need emergency meeting sort out the problems said daniel yergin director cambridge energy research associates cera analysts and oil industry sources said the problem opec faces excess oil supply world oil markets opec problem not price problem but production issue and must addressed that way said paul mlotok oil analyst with salomon brothers inc said the market earlier optimism about opec and its ability keep production under control have given way pessimistic outlook that the organization must address soon wishes regain the initiative oil prices but some other analysts were uncertain that even emergency meeting would address the problem opec production above the mln bpd quota set last december opec has learn that buyers market you cannot have deemed quotas fixed prices and set differentials said the regional manager for one the major oil companies who spoke condition that not named the market now trying teach them that lesson again added david mizrahi editor mideast reports expects opec meet before june although not immediately however not optimistic that opec can address its principal problems they will not meet now they try take advantage the winter demand sell their oil but late march and april when demand slackens mizrahi said but mizrahi said that opec unlikely anything more than reiterate its agreement keep output mln bpd analysts said that the next two months will critical for opec ability hold together prices and output opec must hold its pact for the next six eight weeks since buyers will come back into the market then said dillard spriggs petroleum analysis ltd new york but bijan moussavar rahmani harvard university 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 its production demand for their opec oil clearly above mln bpd and probably closer mln bpd higher now what are seeing characterized cheating opec meeting this demand through current production told reuters telephone interview reuter 
earn	cenergy crg reports qtr net profit cenergy corp reported fourth quarter net income dlrs seven cts per share revenues mln dlrs for the year reported net loss mln dlrs cts per share result writedowns the book value its oil and gas properties the first two quarters revenues were mln dlrs following the company fiscal year ended march changed calender year end for the nine months ended dec reported loss mln dlrs dlrs per share revenues mln dlrs which said was result noncash writedowns oil and gas properties for the year ended march cenergy reported net income dlrs cts per share revenues mln dlrs the company said its reserves during the year fell five mln barrels from mln barrels oil and bilion cubic feet gas from bcf said these reserves did not disappear but are available produce prices recover reuter 
earn	northern telecom ltd declares stock split two for one stock split pay may note split subject approval shareholders april annual meeting company also said will increase dividend post split shares six cts from five cts reuter 
earn	torchmark tmk authorizes stock repurchase torchmark corp said its board authorized the purchase from time time significant portion its pct convertible subordinated debentures february said there were outstanding mln dlrs the principal amount debenures the company also said plans redeem the debentures june eight also declared regular quarterly dividend cts per share its common payable may one shareholders record april reuter 
earn	techamerica group inc tch qtr loss shr loss six cts not available net loss profit revs year shr loss cts loss nine cts net loss loss revs mln mln reuter 
earn	wilfred american educational wae regular div qtly div three cts three cts prior pay april three record march reuter 
acq	drexel official has stake epsilon data epsi senior official drexel burnham lambert inc and his father told the securities and exchange commission they have acquired shares epsilon data management inc pct the total outstanding kenneth thomas senior vice president investments drexel los angeles office and his father retired university professor thomas said they bought the stake for mln dlrs primarily for investment purposes they said they may buy more stock sell some all their stake depending market conditions but have plans seek control the company reuter 
acq	nova wins government okay for husky hyo deal nova the canadian company that owns pct husky oil ltd said received government approval for transaction under which union faith canada holding ltd would buy pct stake husky nova said the minister regional and industrial expansion michel cote ruled that union faith purchase the husky stake would not result husky ceding control non canadian company said this ruling was key condition completing the deal union faith equally owned hutchison whampoa ltd and hong kong electric holdings ltd under the agreement with union faith husky will become private company with union faith and nova each holding pct its stock nine pct husky would owned relatives shing chairman hutchison and five pct the canadian imperial bank commerice reuter 
earn	potomac electric power pom january net oper shr cts cts oper net mln mln revs mln mln mths oper shr dlrs dlrs oper net mln mln revs billion billion note mths oper net excludes extraordinary gain mln dlrs cts per share from sale virginia service territory virginia power reuter 
acq	suffield financial ssbk gets fed approval suffield financial corp said the federal reserve board approved its application acquire coastal bancorp csbk portland suffield said still needs the approval the superintendent maine banking department reuter 
earn	afg industries inc afg quarterly dividend qtly div four cts four cts pay april record march reuter 
earn	gsw inc year net oper shr dlrs dlrs oper net revs mln mln note net excludes extraordinary gain mln dlrs dlrs shr from sale camco inc shares ago loss mln dlrs dlrs shr reuter 
earn	santa anita realty sar quarterly dividend qtly div cts cts pay april record march santa anita realty enterprises inc reuter 
earn	liquid air corp lana quarterly dividend qtly div cts cts pay march record march reuter 
earn	marshall steel ltd year net oper shr five cts cts oper net revs mln mln note former name marshall drummond mccall inc results include extraordinary gains dlrs cts per share and dlrs cts from income tax reduction reuter 
earn	marshall steel details gain from unit sale marshall steel ltd formerly marshall drummond mccall inc said will report mln dlr net gain before taxes this year from the sale its drummond mccall division which was sold effective january one reuter 
earn	mayfair industries inc mayf qtr net oper shr cts cts oper net revs avg shrs mths oper shr cts cts oper net revs mln mln avg shrs note excludes tax gain dlrs for qtr and year reuter 
earn	alatenn resources inc atng qtr net shr cts cts net revs mln mln mths shr dlrs dlrs net revs mln mln reuter 
acq	versatile sell unit vicon versatile corp said agreed principle sell its alberta based versatile noble cultivators division vicon inc ontario for undisclosed terms the division manufactures tillage and spraying equipment reuter 
acq	videotron buys into exhibit company groupe videotron ltd said agreed buy pct groupe promexpo inc company which specializes product exhibits for three mln dlrs reuter 
earn	memotec data inc year net shr cts cts net revs mln mln note results include extraordinary gains dlrs cts share and dlrs cts share reuter 
crude	texaco canada cuts crude prices canadian cts bbl par grade canadian dlrs 
crude	texaco canada txc lowers crude postings texaco canada said lowered the contract price will pay for crude oil canadian cts barrel effective today the decrease brings the company posted price for the benchmark grade edmonton swann hills light sweet canadian dlrs bbl texaco canada last changed its crude oil postings feb reuter 
crude	marathon petroleum reduces crude postings marathon petroleum said reduced the contract price will pay for all grades crude oil one dlr barrel effective today the decrease brings marathon posted price for both west texas intermediate and west texas sour dlrs bbl the south louisiana sweet grade crude was reduced dlrs bbl the company last changed its crude postings jan reuter 
earn	george weston ltd year net shr dlrs dlrs net mln mln revs billion billion reuter 
acq	circuit systems csyi buys board maker circuit systems inc said has bought all the stock ionic industries inc exchange for shares its common following the exchange there will shares circuit systems stock outstanding ionic holders will own about pct the outstanding stock circuit systems said ionic maker circuit boards had revenues mln dlrs and pretax profits dlrs from revenues mln and pretax profits dlrs circuit systems said reuter 
earn	mail boxes etc mail qtr jan net shr cts cts net revs avg shrs nine mths shr cts cts net revs reuter 
earn	munsingwear inc mun qtr jan loss shr loss cts loss seven cts net loss loss revs mln mln year shr profit cts profit cts net profit profit revs mln mln avg shrs note per shr adjusted for for stock split july and for split may reuter 
earn	gti corp gti qtr oper net oper shr profit six cts loss two cts oper net profit loss revs year oper shr profit cts loss two cts oper net profit loss revs mln mln note data does not include from discontinued operations qtr gain dlrs cts per shr qtr loss dlrs seven cts per shr year loss dlrs dlrs per shr and year loss dlrs cts per shr reuter 
crude	houston oil reserves study completed houston oil trust said that independent petroleum engineers completed annual study that estimates the trust future net revenues from total proved reserves mln dlrs and its discounted present value the reserves mln dlrs based the estimate the trust said there may money available for cash distributions unitholders for the remainder the year said the estimates reflect decrease about pct net reserve revenues and pct discounted present value compared with the study made reuter 
earn	famous restaurants inc fams qtr loss shr loss dlrs loss eight cts net loss loss revs mln mln year shr loss dlrs profit four cts net loss profit revs mln mln note includes non recurring charges dlrs the qtr and dlrs the year for reserve for underperforming restaurants reuter 
earn	avery avy sets two for one stock split avery said its board authorizerd two for one stock split increased the quarterly dividend and plans offer four mln shares common stock the company said the stock split effective march with distribution one additional share each shareholder record march said the quarterly cash dividend cts per share the split shares pct increase from the cts per share before the split avery said will register with the securities and exchange commission shrortly offer four mln additional common shares will use the proceeds repay debt finance recent acquisitions and for other corporate purposes reuter 
interest	japan expected cut base rate for state bodies japan expected cut the base lending rate for state financial institutions pct from part the recent pact major industrial nations paris finance ministry sources said they said the cut based revision the trust fund bureau law which should approved parliament march abolishing the pct minimum interest rate deposits with the bureau the bureau channels funds government financial institutions for public works and other official uses they said the base lending rate for state bodies such the japan development bank people finance corp and the finance corporations local public enterprises usually moves tandem with long term prime rates the sources said however was impossible for them follow the last cut pct from pct january because the trust fund bureau rate was legally set pct the ministry will abolish the minimum rate and introduce market related one resolve the problem and stimulate the domestic economy they said tuesday the ministry allowed long term bankers cut their prime record low pct effective february the move suggested had reached agreement with depositors using the bureau the postal savings system the posts and telecommunications ministry and the japan welfare annuity the ministry health and welfare the sources said these ministries are trying determine which market rates should considered when setting the bureau deposit rate the ministry sources said coupon rates new year government bonds minus percentage points the likeliest choice they added reuter 
interest	italian treasury cuts interest certificates the italian treasury said annual coupon rates payable march two issues long term treasury certificates ccts would cut about four percentage points compared with rates this march coupon rates year certificates maturing march will fall pct from pct and rates year issues maturing march would fall pct from pct the treasury also cut point six monthly coupons payable this september six issues maturing between september and september the issues carry terms between five and seven years and will have coupon rates between and pct september compared with and pct this march reuter 
crude	kuwait says plans for emergency opec talks kuwait oil minister remarks published today said there were plans for emergency opec meeting review oil policies after recent weakness world oil prices sheikh ali khalifa sabah was quoted the local daily qabas saying none the opec members has asked for such meeting denied kuwait was pumping above its quota barrels crude daily bpd set under self imposed production limits the nation organisation traders and analysts international oil markets estimate opec producing one mln bpd above ceiling mln bpd agreed 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 baseless based reports which said kuwait has the ability exceed its share they suppose that because kuwait has the ability will the minister said sheikh ali has said before that kuwait had the ability produce mln bpd can sell more than our quota official prices while some countries are suffering difficulties marketing their share means kuwait are unusually clever said was referring apparently the gulf state qatar which industry sources said was selling less than bpd its bpd quota because buyers were resisting official prices restored opec last month pegged marker dlrs per barrel prices new york last week dropped their lowest levels this year and almost three dollars below three month high dollars barrel sheikh ali also delivered challenge any international oil company that declared kuwait sold below official prices because was charging its official price dlrs barrel had lost custom said but did not elaborate however kuwait had guaranteed markets for its oil because its local and international refining facilities and its own distribution network abroad added reaffirmed that the planned meeting march opec differentials committee has been postponed until the start april the request certain the body members ecuador deputy energy minister fernando santos alvite said last wednesday his debt burdened country wanted opec assign lower official price for its crude and was seek this talks this month opec pricing committee referring pressure oil companies opec members apparent reference difficulties faced qatar said expected such pressure will continue through march and april but expected the situation would later improve reuter 
crude	indonesia seen crossroads over economic change indonesia appears nearing political crossroads over measures deregulate its protected economy the embassy says new report counter falling oil revenues the government has launched series measures over the past nine months boost exports outside the oil sector and attract new investment indonesia the only asian member opec and leading primary commodity producer has been severely hit last year fall world oil prices which forced devalue its currency pct september but the embassy report says president suharto government appears divided over what direction lead the economy appears nearing crossroads with regard deregulation both pertains investments and imports the report says primarily assesses indonesia agricultural sector but also reviews the country general economic performance says that while many government officials and advisers are recommending further relaxation there are equally strong pressures being exerted halt all such moves this group strongly favours import substitution economy the report says indonesia economic changes have been welcomed the world bank and international bankers steps the right direction though they say crucial areas the economy like plastics and steel remain highly protected and virtual monopolies three sets measures have been announced since last may which broadened areas for foreign investment reduced trade restrictions and liberalised imports the report says indonesia economic growth calendar was probably about zero and the economy may even have contracted bit this the lowest rate growth since the mid the report notes indonesia the largest country south east asia with population million facing general elections april but the report hold out little hope for swift improvement the economic outlook for early indications point slightly positive growth rate not exceeding one pct economic activity continues suffer due the sharp fall export earnings from the petroleum industry growth the non oil sector low because weak domestic demand coupled with excessive plant capacity real declines construction and trade and reduced level growth agriculture the report states bankers say continuation present economic reforms crucial for the government get the international lending its needs new world bank loan mln dlrs last month balance payments support was given partly help the government maintain the momentum reform the bank said reuter 
crude	saudi riyal deposit rates remain firm saudi riyal interbank deposits were steady yesterday higher levels quiet market traders said they were reluctant take out new positions amidst uncertainty over whether opec will succeed halting the current decline oil prices oil industry sources said yesterday several gulf arab producers had had difficulty selling oil official opec prices but kuwait has said there are plans for emergency meeting the member organisation traditional sunday lull trading due the european weekend also contributed the lack market activity spot next and one week rates were put pct after quotes ranging between seven six yesterday one three and six month deposits were quoted unchanged and pct respectively the spot riyal was quietly firmer the dollar after quotes yesterday reuter 
crude	qatar unveils budget for fiscal the gulf oil state qatar recovering slightly from last year decline world oil prices announced its first budget since early and projected deficit billion riyals the deficit compared with shortfall billion riyals the last published budget for statement outlining the budget for the fiscal year beginning today finance and petroleum minister sheikh abdul aziz bin khalifa thani said the government expected spend billion riyals the period projected expenditure the budget had been billion riyals sheikh abdul aziz said government revenue would about billion riyals down about pct the projected revenue billion the government failed publish budget due uncertainty surrounding oil revenues sheikh abdul aziz said that during that year the government decided limit recurrent expenditure each month one twelfth the previous fiscal year allocations minus pct urged heads government departments and public institutions help the government rationalise expenditure did not say how the budget shortfall would covered sheikh abdul aziz said plans limit expenditure had been taken order relieve the burden placed the country foreign reserves added 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 figure was revealed for expenditure defence and security there was also projection for oil revenue qatar opec member has output ceiling barrels per day sheikh abdul aziz said our expectations positive signs regarding oil price trends foremost among them opec determination shoulder its responsibilites and protect its wealth have helped make reasonable estimates for the coming year revenue the basis 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 large extent fragmented and lag behind gulf international bank bsc gib said the bank economist henry azzam said review gulf capital markets that investors have relinquish traditional investment vehicles such real estate foreign currency bank accounts and precious metals greater financial sophistication needed coupled with more diversified capital market instruments and change the disclosure requirements company accounts 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 short term money market instruments and banks the region had floated various euronotes and underwriting facilities nevertheless bond and stock markets remain large extent fragmented and lagging behind said most debt the region still raised syndicated loans and bank facilities and very few companies had made use stock bond issues only kuwait has official stock exchange while other gulf nations have yet establish exchanges but with dwindling financial surpluses the gulf governments are actively pursuing ways develop capital markets and set domestic stock exchanges azzam said said recession stemming from sliding oil prices had clearly had negative impact the development capital markets the region addition family firms are reluctant public financial awareness among investors still lacking and investment analysis and corporate reporting standards lack depth sharp fall share prices the early prompted investors hold shares hoping for eventual recovery azzam said the absence proper commercial law some gulf countries and authorities apparent reluctance adopt financial innovations had also hampered capital markets called for clearly defined laws governing incorporation joint stock companies and the flotation debt instruments azzam said capital market instruments should made available all citizens and institutions gulf cooperation council gcc states bahrain kuwait qatar oman saudi arabia and the united arab emirates uae some moves had been taken this direction with bahrain allowing gcc nationals own pct locally incorporated companies azzam said gulf money markets had received greater depth from the introduction treasury bill offerings bahrain and the expansion securities repurchase regulations saudi arabia but added there bond market speak saudi arabia qatar oman the uae with the last saudi riyal denominated bond issued while bahrain plans official stock exchange and trading saudi arabia has picked establishment formal exchanges qatar oman and the uae does not appear imminent azzam said reuter 
crude	saudi arabia reiterates commitment opec pact saudi arabian oil minister hisham nazer reiterated the kingdom commitment last december opec accord boost world oil prices and stabilise the market the official saudi press agency spa said asked the agency about the recent fall free market oil prices nazer said saudi arabia fully adhering the accord and will never sell its oil prices below the pronounced prices under any circumstance nazer quoted spa said recent pressure free market prices may because the end the northern hemisphere winter season and the glut the market saudi arabia was main architect the december accord under which opec agreed lower its total output ceiling pct mln barrels per day bpd and return fixed prices around dlrs barrel the agreement followed year turmoil oil markets which saw prices slump briefly under dlrs barrel mid from about dlrs late free market prices are currently just over dlrs nazer was quoted the spa saying saudi arabia adherence the accord was shown clearly the oil market said contacts among members opec showed they all wanted stick the accord jamaica opec president rilwanu lukman who also nigerian oil minister said the group planned stick with the pricing agreement are aware the negative forces trying manipulate the operations the market but are satisfied that the fundamentals exist for stable market conditions said kuwait oil minister sheikh ali khalifa sabah said remarks published the emirate daily qabas there were plans for emergency opec meeting review prices traders and analysts international oil markets estimate opec producing 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 retain currency auction says kaunda zambia will retain its foreign exchange auction system despite the suspension weekly auctions since january president kenneth kaunda said have not run away from the auction hasn been abolished all told reuters interview said the system would reintroduced after current talks with the world bank and the international monetary fund and hoped would backed fresh foreign aid funds kaunda dismissed central bank statements the new auction system would used allocate foreign exchange private bidders but not fix the exchange rate kaunda said the auction system had faltered because the government shortage foreign exchange meet demand was suspended when the kwacha rapid devaluation and strong fluctuations made economic planning almost impossible for the government and the private sector said weekly foreign exchange auctions began october the kwacha fell from the dollar about months january the government was more than two months arrears paying foreign currency successful bidders and the auction was suspended and replaced with fixed exchange rate nine kwacha the dollar reuter 
acq	nippon kokan steel affiliates considering merger toshin steel ltd toss and azuma steel ltd affiliates nippon kokan nkkt are considering merger company spokesmen said toshin steel owned pct nippon kokan and azuma steel owned pct nippon kokan are expected decide the end march they said both firms have been struggling with losses caused the recession the steel industry and the yen appreciation azuma steel current losses are estimated billion yen the year ending march against billion loss year earlier spokesman said the firm employs workers toshin steel with workers has given forecast for the year ending march but industry sources said they expected the company show current losses about five billion yen more compared with billion loss reuter 
trade	japan february interim trade surplus jumps japan customs cleared trade surplus the first days february jumped billion dlrs from billion year earlier the finance ministry said the february interim surplus was sharply from mln dlr surplus the same january period fob exports rose pct from year earlier the first days february billion while cif imports fell pct billion the average dollar yen rates were for exports and for imports against for exports and for imports year earlier reuter 
crude	saudi february crude output put mln bpd saudi crude oil output last month fell average mln barrels per day bpd from mln bpd january gulf oil sources said they said exports from the ras tanurah and aymah terminals the gulf fell average mln bpd last month from mln january because lower liftings some customers but the drop was much smaller than expected after gulf exports rallied the fourth week february mln bpd from mln the third week the sources said the production figures include neutral zone output but not sales from floating storage which are generally considered part country output for opec purposes saudi arabia has opec quota mln bpd under production restraint scheme approved the nation group last december back new official oil prices averaging dlrs barrel the sources said the two fold jump exports last week appeared the result buyers rushing lift february entitlements before the month end last week high export levels appeared show continued support for official opec prices from saudi arabia main crude customers the four partners aramco the sources said the four exxon corp xon mobil corp mob texaco inc and chevron corp chv signed long term agreement last month buy saudi crude for dlrs barrel however the sources said the real test saudi arabia ability sell crude official prices weak market will come this month when demand for petroleum products traditionally tapers off spot prices have fallen recent weeks more than one dlr below opec levels saudi arabian oil minister hisham nazer yesterday reiterated the kingdom commitment the december opec accord and said would never sell below official prices the sources said total saudi refinery throughput fell slightly february average mln bpd from mln january because cuts the yanbu and jubail export refineries they put crude oil exports through yanbu bpd last month compared zero january while throughput bahrain refinery and neutral zone production remained steady around bpd each reuter 
earn	japan ntt forecasts profits fall nippon telegraph and telephone corp ntt expects its profits fall billion yen the year ending march from projected billion this year the company said total sales for the same period are expected rise billion yen from projected billion this year ntt said business operations plan submitted the post and telecommunications ministry ntt said plans make capital investments billion yen including billion for research and development against total billion this year ntt spokesman said increased competition from new entrants the telecommunications field and the effect sales tax scheduled introduced next january were the major factors behind the projected decrease profits the japanese telecommunications industry was deregulated reuter 
ship	china signs world bank loan for tianjin port china has signed mln dlr loan agreement with the world bank partly finance new berths with annual capacity mln tonnes the mln tonne year capacity tianjin port the new china news agency said china will provide mln yuan for the project and chinese company won bid against other firms from seven countries the foundation work said said the new berths will able handle ships more than tonnes three will handle containers and the expansion will enable the port handle coke non metal mineral ores and mining equipment for the first time reuter 
acq	shv says making tender offer for mln shares gas 
earn	cheung kong holdings ltd ckgh year shr dlrs final div cents making cents net billion dlrs mln note earnings excluded extraordinary gains mln dlrs mln bonus issue one for four nil share split four for one dividend payable june books close may reuter 
acq	wallenbergs fight bid for swedish match stake sweden wallenberg group fought back bid the london based swedish financier erik penser secure large stake swedish match smbs one the companies the core their business empire statement issued the wallenberg holding companies investor and forvaltnings providentia said they had taken over option held nobel industrier sweden acquire pct the voting rights swedish match thre wallenbergs paid nobel industrier nobl which penser group has pct stake about pct over the market price for the swedish match option the statement said swedish match shares open foreign buyers closed crowns friday the shares with increased voting rights closed crowns for the restricted and for the free shares the statement said the deal increased investor stake pct the voting rights and pct the share capital while providentia left holding pct the voting rights and pct the share capital swedish match the wallenbergs stake swedish match had previously amounted pct the voting rights the company the swedish match deal will cost the wallenbergs about mln crowns share analysts said making one the most expensise moves the group has undertaken the last four years defend its far flung interests from outside predators the wallenbergs originally sold nobel industrier arms and chemicals group penser pay for buying volvo volv out two other key group companies atlas copco asts and stora koppabergs skps since then the wallenbergs were ousted the largest shareholders skf skfr skanska skbs and frederik lundberg wrested control incentive from them lundberg zurich based swedish property tycoon also managed acquire pct stake another wallenberg company the diary equipment firm alfa laval alfs during the wallenbergs have been concentrating building their stake investor and providentia prevent any raid the heart their business empire but analysts say the wallenbergs position the electrical engineering firm asea asea also too small pct the voting rights and there has been growing speculation that the group will forced sell off fringe interests protect its core activities reuter 
acq	shv says making tender offer for gas shv united kingdom holding ltd said was making tender offer for mln ordinary shares imperial continental gas association icgs said statement the offer was the basis for each gas ordinary and for every one stg nominal gas loan stock shv already holds mln gas ordinary stock units representing around pct the current issued share capital successful completion the offer would increase shv stake gas mln shares representing around pct issued share capital said the offer capitalises gas around one billion stg said was tendering for both ordinary stock and loan stock which when fully converted gave total mln gas ordinary making the tender offer through rothschilds gas said statement noted the shv tender offer and the terms were being considered said further statement would made soon possible reuter 
acq	sale tilney buys stake insurance broker sale tilney plc said has purchased pct the ordinary share capital and international inc insurance broker for mln dlrs sale paying mln dlrs cash completion with the balance plus interest paid equal instalments over the next six years and posted pretax profit dlrs the year dec when had net tangible assets dlrs reuter 
earn	estimated drop japan corporate profits trimmed the combined profits japan major corporations excluding financial institutions are forecast fall pct the year ending march compared the pct decline projected late november wako research institute economics said the private research body also said statement that the firms listed the first section the tokyo stock exchange foresee pct fall sales the year against pct fall estimated last november current profits are projected fall pct sales seen increasing pct said rationalisation measures taken manufacturing industries cope with the yen sharp rise are beginning brighten their business outlook the institute said said lower interest rates which are expected reduce corporate borrowing costs are also behind the improved performance outlook earnings performance the non manufacturing sector will supported firm demand the real estate and construction businesses said the forecast was based average exchange rate estimates yen the dollar and yen reuter 
interest	japan promote interest rate liberalisation the bank japan decided policy board meeting promote further interest rate liberalisation lowering the minimum denomination regulation free large deposits and raising the interest rate ceiling money market certificates mmcs central bank official said the new guideline will into effect april the bank said under the guideline the minimum denomination regulation free large deposits will lowered mln yen from mln the interest rate ceiling mmcs with maturities between one year and two years will set percentage point below the prevailing certificate deposit rate the bank said but the ceiling mmcs with maturities one year less will remain the same percentage point below the rates the minimum denomination mmcs will lowered mln yen from mln the bank also said time deposit rates will lowered point effective march line with the half point cut the official discount rate february new interest rates two year and one year deposits banks for example will pct and pct per annum respectively demand deposit rates however will remain the same reuter 
acq	exco buys government securities broker exco international plc subsidiary british and commonwealth shipping plc bcom said had agreed principle buy pct stake rmj holdings corp for about mln dlrs exco chairman richard lacy told reuters the acquisition was being made from bank new york inc which currently holds pct and from rmj partners who hold the remainder bank new york and the partners will retain about pct each and these stakes will bought over the next six years rmj the holding company rmj securities one the largest government securities brokers also involved broking notes obligations and other instruments sponsored federal agencies lacy said exco had been considering buying government securities broker for the past four years and had made offer for rmj when was sold security pacific corp spc rmj was then valued about mln dlrs and managing director peter goldie said rmj would bought about the same multiple exco suggesting net income around mln dlrs the company earnings had not been hit the halving brokerage fees some months ago volumes had since doubled lacy said that rmj employed some people with the brokerage business and about its sms unit which provided computer software for the financial services community rmj securities had offices new york where total market turnover government securities was billion dlrs day and london where has billion was also given permission last week open office tokyo where total market turnover had lifted rapidly about five billion dlrs day the acquisition would contribute between five and pct and share earnings proforma basis reuter 
acq	coloroll agrees buy wallcoverings company coloroll group plc said has entered into conditional agreement acquire the business and assets wallco inc and related companies for mln dlrs miami based wallco manufactures and distributes wallcoverings and showed pretax profit mln dlrs turnover mln the year ending june the total market was estimated worth mln dlrs having grown pct the previous five years coloroll said the combined sales and profit the enlarged coloroll business would mln and four mln dlrs respectively reuter 
trade	sweden ahead with african trade sanctions sweden ruling social democratic party gave full power the government decree unilateral trade sanctions against south africa prime minister ingvar calrsson said carlsson told news conference the party decided the fight against apartheid took priority over sweden traditional policy only adopting sanctions with the backing the security council the government will decide later what form the trade boycott will take and when will come into force reuter 
trade	japan set begin high level trade talks japan and the kick off top level trade talks tomorrow amid signs officials from both sides are growing increasingly irritated with each other the talks held annually sub cabinet level review the whole gamut japan economic relations will pave the way for american secretary state george schultz one day stop over here end week his way home from china faced with growing congressional protectionist pressure the administration pressing japan for speedy action reduce its still huge trade surplus officials said appreciate their frustration senior japanese government official said but are also frustrated the official said the pct rise the yen over the last months has hit japan hard forcing exporters slash spending and lay off workers make for lost sales abroad that has not yet shown dollar based statistics trade but will said said the administration was ignoring the progress that has been made and instead emphasizing the problems that remain when talks with congress would only take five minutes list their accomplishments senior official replied the talks begin tomorrow with high level discussions the economic structures both countries and how they affect the bilateral trade imbalance which last year amounted billion dlrs japan favour the following two days the topics will range from multilateral trade talks under the auspices the general agreement tariffs and trade gatt such bilateral trade problems super computers the structural talks are intended free wheeling discussions among senior officials tomorrow topics include savings and investment issues such consumer credit and housing and the implications government budget deficits these talks come particularly delicate time for the japanese government which facing increasing domestic pressure abandon its tight fisted fiscal policy and stimulate the sagging economy spending more some officials complained japan has intention boosting domestic demand and imports washington wants japanese officials turn pointed the finger the huge budget deficit one the main culprits for the trade imbalance that budget deficit has meant that the buying more imports japan seems particularly peeved being singled draft trade bill before the senate nation following adverserial trade practices condemns japan without due process one japanese official said that reference spoils what otherwise well thought out bill introduced democratic senator lloyd bentsen said japan also not totally happy with the administration trade bill particularly its proposal establish reciprocal access foreign markets one criteria for retaliatory trade action the officials said nevertheless japanese officials said they remain weak bargaining position especially with the threat trade bill overhanging them have leverage one official admitted result tokyo striving meet complaints about its trade practices variety fields including super computers the pressing for greater access the japanese super computer market the japanese government has sent long questionnaire public institutions like universities which buy the sophisticated machines hopes eventually setting informal bidding procedures easily understood 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 healthy increase the same period last year and chairman green told the annual meeting looked forward with optimism the issue mln shares adr form had now been successfully completed added carlton intended increase its presence the which represented pct the world television market conditions worldwide the television industry continued look buoyant the chairman noted reuter 
crude	gulf arab deputy oil ministers meet bahrain deputy oil ministers from six gulf arab states will meet bahrain today discuss coordination crude oil marketing the official emirates news agency wam reported wam said the officials would discussing implementation last sunday agreement doha gulf cooperation council gcc oil ministers help each other market their crude oil four the gcc states saudi arabia the united arab emirates uae kuwait and qatar are members the organiaation petroleum exporting countries opec and some face stiff buyer resistance official opec prices reuter 
crude	saudi arabia reiterates commitment opec accord saudi arabian oil minister hisham nazer reiterated the kingdom commitment last december opec accord boost world oil prices and stabilize the market the official saudi press agency spa said asked the agency about the recent fall free market oil prices nazer said saudi arabia fully adhering the accord and will never sell its oil prices below the pronounced prices under any circumstance saudi arabia was main architect december pact under which opec agreed cut its total oil output ceiling pct and return fixed prices around dollars barrel reuter 
crude	kuwait minister says emergency opec talks set kuwait oil minister said newspaper interview that there were plans for emergency opec meeting after the recent weakness world oil prices sheikh ali khalifa sabah was quoted the local daily qabas saying that none the opec members has asked for such meeting also denied that kuwait was pumping above its opec quota barrels crude daily bpd crude oil prices fell sharply last week international oil traders and analysts estimated the nation opec was pumping one million bpd over its self imposed limits reuter 
trade	taiwan plans new tariff cuts taiwan plans another round deep tariff cuts this year help narrow its trade surplus with the senior economic planner said wang chao ming vice chairman the council for economic planning and development told reuters taiwan would further reduce import tariffs products sometime the second half this year cuts pct those items were made last year and wang said further cuts would much deeper have speed liberalisation and cut import tariffs faster and more substantially said the united states taiwan main trading partner has said the island import tariffs still ranging from high almost pct were unacceptable has criticised the cuts too selective taiwan trade surplus with the united states hit billion dlrs last year the surplus has boosted foreign exchange reserves billion dlrs which wang said made taiwan target for protectionism wang said the trade surplus and the reserves weakened taiwan position talks with washington over export quotas particularly for shoes textiles and machine tools which are among the island main export earners special taiwanese trade delegation leaves for washington tomorrow try renegotiate agreement signed last year limiting exports taiwan textiles under the accord taiwan textile export growth was limited pct each year until taipei has said losing markets south korea and hong kong which were given more generous terms reuter 
earn	hutchison sees higher payout satisfactory profits hutchison whampoa ltd hwhh expects satisfactory profits and will pay higher dividend for the year chairman shing said did not make any specific projections for the company earnings this year but said the firm will pay dividend not less than cents per share after proposed four for one stock split and one for four bonus issue paid total dividends dlrs per share last year equal cents per share adjusting for the bonus and share split hutchison which has operations ranging from trading property and container terminals earlier reported after tax profits billion dlrs against billion dlrs the total excluded extraordinary gains mln dlrs partly from the sale some its stake the south china morning post the leading english language newspaper compared with mln dlrs the previous year said expects another mln dlr gain from the sale the remaining shares said hong kong property market remains strong while its economy performing better than forecast with its largely export led growth gross domestic product grew nearly nine pct last year against initial government projection pct but said hong kong large trade deficit with the may result protectionist measures that will adversely affect the british colony said all the company major operations showed improved results hutchison said earlier will sell its entire pct interest hongkong electric holdings ltd hkeh cavendish international holdings ltd itself spin off from hongkong electric under reorganisation announced separately hongkong electric will spin off all its non electricity related activities into cavendish which will listed the local stock exchange hongkong electric shareholders will receive one share cavendish for every hongkong electric share cavendish will buy the mln hongkong electric shares from hutchison issuing mln new shares the spin off and the sale hongkong electric shares will give hutchison pct stake cavendish said the decision spin off cavendish relieve hongkong electric public criticism the power company for making risky investments but denied there was pressure from the government for the spin off said cavendish will have seven billion dlrs assets and will almost debt free with mln dlrs liabilites its major assets are the hong kong hilton hotel property development and interests husky oil ltd hyo canada and pearson plc pson britain reuter 
acq	scientific micro systems smsi acuires supermac scientific micro systems inc said has acquired supermac technology rapidly growing supplier enhancement products and disc drive subsystems for the apple personal computer market scientific micro said acquired all the common stock supermac exchange for mln shares its own common stock the stock closed dlrs bid friday supermac privately held firm based mountain view california scientific micro reported net profit dlrs revenue mln dlrs fiscal expects its revenue approximately double reuter 
acq	american express axp viewing shearson options american express rumored considering spinoff part shearson lehman brothers inc said studying range options for its brokerage unit that could improve shearon access capital and help meet broadening international competition joint statement american express and shearson said the actions under consideration are integral part american express worldwide financial services strategy and that the two companies have been having both internal and external discussions the matters american express said decision has been reached the strategic options and that and shearson could ultimately decide follow growth plans already place last week rumors circulated wall street that the financial services giant was considering spinoff part shearson and there was speculation may considering selling stake japanese firm analysts said the speculation also focused american express selling pct the profitable brokerage firm the public there was some speculation that american express had also considered total spinoff shearson but the plan was considered highly unlikely analysts said american express said the statement sunday that will not comment rumors and speculation and spokesman would not beyond the statement the company also remained silent last thursday and friday rumors drove american express stock total dlrs two days bring friday close said issued the statement sunday because similar statement was being circulated employees analysts have been divided whether makes sense for american express give stake the wholly owned brokerage which improved its after tax earnings about pct the last year some analysts said american express may consider spinning off part shearson because concerned that its stock price does not fully reflect the value the brokerage firm shearson contributed mln dlrs american express billion dlr net american express ambitious plans for international growth may also enhanced the added cash that spinning out part shearson would bring analysts speculated that all shearson would have market value about billion dlrs some however the need for added capital puzzling american express position where they can raise capital they need said larry eckenfelder prudential bache securities analysts said rumors were fed the reorganization shearson management wednesday chief operating officer jeffrey lane got the added previously vacant post president the reorganization also created four new positions for chairmen shearson operating divisions move analysts speculated would allow shearson stand alone company analysts contacted sunday said the statement does little clarify last week market speculation does confirm however that the financial services firm which unsuccessfully attempted expand shearson with major acquisition last year looking beyond its own walls for growth and positioning the global market competition late last year shearson takeover offer the hutton group inc was rejected hutton and analysts said there had been speculation that shearson also was rebuffed when approached another major wall street brokerage reuter 
acq	ropak ropk has pct buckhorn bkn ropak corp said received and accepted about common shares and series convertible preferred shares buckhorn inc four dlrs and dlrs each respectively response its tender offer that expired friday and now owns pct buckhorn voting power the company had owned common and preferred shares before starting the hostile tender ropak said borrowing the funds needed buy the buckhorn shares from its bank lender and will not need use any funds that another bank had committed provide under margin loan ropak said waived minimum acceptance requirements buy the shares and intends evaluate number possible ways completing acquisition buckhorn said hopes that buckhorn board will reevaluate its position and enter into meaningful negotiations reuter 
acq	penril pnl seeks sell two units penril corp said seeking sell its triplett electrical instrument corp subsidiary bluffton ohio and triplett alltest division hoffman estates ill part plan concentrate its three profitable division and reduce its debt load the company also said evaluating plan satisfy its obligations under its pct subordinated notes but gave details interest the notes due today penril further said director clifford alexander has resigned from the board gave reason penril said shareholders the annual meeting approved the limitation directors liability reuter 
acq	dale burdett inc faces damage claim dale burdett inc said faces damages claims totalling about dlrs from the former owners burdett publications inc the company said february its predecessor nolex development inc acquired burdett publications inc exchange mln common shares for all burdett publications shares but the transaction was not qualified with the california department corporations result said the former burdett publications owners have claim for damages against dale burdett successor nolex for one yuear starting january with the damages measured the difference values shares exchanged plus interest from february reuter 
acq	purolator pcc buyout with hutton efh new jersey based overnight messenger purolator courier corp said has agreed acquired for about mln dlrs company formed hutton lbo inc and certain managers purolator courier business analysts have said that purolator has been for sale for some time purolator announced earlier was mulling takeover bid but analysts wrongly predicted the offer was from another courier company hutton lbo wholly owned subsidiary hutton group inc will majority owner the company hutton said the acquiring company acquisition inc paying dlrs cash per share for pct purolator stock tender offer begin thursday the rest the shares will purchased for securities and warrants buy stock subsidiary acquisition containing purolator courier operations all the shares purolator are tendered shareholders would receive for each share dlrs cash six dlrs debentures and warrant buy shares subsidiary acquisition containing the courier operations hutton said the merger shareholders would get mln dlrs aggregate amount guaranteed debentures due acquisition and warrants buy pct the common stock the courier subsidiary hutton said the company has valued the warrants two three dlrs per share purolator stock price closed dlrs friday while some analysts estimated the company was worth the mid least one said would worth dlrs this follows sales two other purolator units agreed recently sell its canadian courier unit 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 hutton spokesman said the firm reviewing its options stant purolator courier business has been lagging that its rivals because the high price paid the past several years add air delivery its ground fleet hutton will provide mln dlrs its funds complete the transaction this called bridge financing will replaced later with long term debt most likely the form bank loans hutton said hutton lbo committed keeping the courier business its president warren idsal said purolator lost mln dlrs over the last two years largely due courier operations which believe the management turning around belive will very serious competitor the future said idsal william taggart chief executive officer courier division will chief executive officer the new company the tender offer will conditioned minimum two thirds the common stock being tendered and not withdrawn the expiration the offer well certain other conditions the offer will begin thursday subject clearances from the staff the interstate commerce commission and will expire business days after commencement unless extended reuter 
acq	financial santa barbara fsb make purchase financial corp santa barbara said has signed definitive agreement purchase stanwell financial the lending operations unit mortgage banking company stanwell mortgage for undisclosed terms reuter 
earn	bbc brown boveri und cie bbcz year parent company net profit mln swiss francs mln orders received billion francs billion sales billion francs billion group sales billion francs billion group orders billion francs billion reute 
acq	marriott mhs sell hotel four seasons hotels said and vms realty partners chicago have agreed purchase the santa barbara biltmore hotel from marriott corp for undisclosed amount said the venture will rename the hotel the four seasons biltmore santa barbara and invest over mln dlrs improvements the room property reuter 
earn	brown boveri omits dividend plans warrant bond bbc brown boveri und cie bbcz said will omit dividend for the second consecutive year said planned invite shareholders and non voting stockholders subscribe warrant bond issue around mln swiss francs made after the june annual meeting the value the stock subscription rights should correspond roughly the dividend francs per share paid the company also plans issue participation certificates with par value mln swiss francs from which existing shareholders are excluded reuter 
acq	viacom said has new national amusements mcv holdings bids 
acq	laroche starts bid for neco npt shares investor david roche north kingstown said offering purchase common shares neco enterprises inc dlrs each said the successful completion the offer plus shares already owns would give him pct neco common shares roche said may buy more and possible all neco shares said the offer and withdrawal rights will expire est gmt march reuter 
earn	sdc sydney development corp nine mths loss period ended december oper shr loss dlrs loss cts oper loss loss revs note current shr and net exclude extraordinary gain dlrs five cts shr versus extraordinary gain dlrs four cts shr reuter 
acq	senior engineering makes mln dlr purchase senior engineering group plc said reached agreement with cronus industries inc acquire the whole share capital south western engineering for mln dlrs cash this sum being financed term loan south western one the leading manufacturers heat transfer equipment with turnover mln dlrs and pre tax profits mln completion the deal conditional approval under hart scott rodino regulations which expected within days some dlrs payable immediately mln dlrs payable completion with the balance due june reuter 
earn	cheung kong chairman sees strong results cheung kong holdings ltd ckgh expecting strong results this year after reporting better than expected profits chairman shing said did not give specific earnings projection but told reporters the firm will pay total dividends not less than cents share this year after one for four bonus issue and four for one stock split the company earlier declared total dividends equal cents share for adjusting for the stock split and bonus issue cheung kong earnings rose billion dlrs well above market expectations mln one billion dlrs they compared with profits mln dlrs cheung kong also reported extraordinary gains mln dlrs mainly from the firm sale the hong kong hilton hotel hongkong electric holdings ltd hkeh for one billion dlrs had gains mln dlrs attributed the surge earnings buoyant local property market and substantial increases contributions from associated companies looking ahead should another year stability for the property market said the growth hong kong exports expected stimulate the demand for industrial buildings cheung kong cash rich and looking for new projects the british colony said noting the firm interested land reclamation project along the hong kong harbour and exchanging views with the government proposal build second airport reuter 
earn	whittaker corp qtr oper shr cts cts 
acq	viacom via receives two revised offers viacom international inc said received revised merger offers from national amusements inc and mcv holdings inc the company said the special committee plans meet later today review both offers viacom said national amusements arsenal holdings inc raised the value its offer for the viacom shares not held national amusements three areas national amusements holds pct viacom stock the cash value the offer was raised dlrs from the dlrs viacom share offered february while the value the fraction share exchangeable preferred being offered was increased dlrs share from six dlrs the interest rate used increase the cash value the merger delayed beyond april was raised nine pct from eight pct and pct after may viacom spokesman said the arsenal holdings offer continues include pct interest arsenal for present viacom shareholders viacom said mcv holdings group which includes the company senior management and the equitable life assurance society the united states raised the value its offer increasing the value the preferred being offered dlrs from dlrs share and raising the ownership the new company held present viacom shareholders pct from pct mcv called its previous offer made february the final proposed revision its agreement with viacom reuter 
earn	waste management corp votes two for one stock split and boosts qtly dividend cts 
acq	pittston agrees acquire wtc international exchange stock 
earn	tuesday morning inc tues qtr net shr dlrs dlrs net revs mln mln avg shrs year shr dlrs dlrs net sales mln mln avg shrs reuter 
acq	diagnostic retrieval systems inc makes mln dlr bid for rospatch corp 
acq	miller tabak has pct penn traffic pnf miller tabak hirsch and said has received accepted common shares penn traffic response its dlr per share tender offer that expired friday and together with the shares already owned now has about pct penn traffic the company said penn traffic expected hold special shareholders meeting later this month approve merger into miller tabak the tender price said two miller tabak representatives will named the penn traffic board march four serve the only directors with penn traffic president and chief executive officer guido malacarne the company said received financing for the transaction from first national bank minneapolis and salomon inc reuter 
earn	waste management wmx votes split ups payout waste management corp said its board voted two for one stock split payable april record march other action waste management directors approved increase the quarterly dividend cts from cts payable april three record march reuter 
earn	porex technologies porx sets initial dividend porex technologies corp said its board declared initial annual dividend cts per share its first payout payable march holders record march reuter 
earn	davis water dwws declares stock dividend davis water and waste industries inc said its board declared pct stock dividend payable march holders record march reuter 
earn	medco containment mccs sets initial payout medco containment services inc said its board declared initial annual dividend cts per share its first payout payable march holders record march reuter 
acq	pittston pco agrees acquire wtc waf pittston said has tentatively agreed acquire wtc international tax free exchange stock pittston said agreed exchange common share for each the about wtc common shares outstanding pittston said wtc three principal shareholders who own pct its stock are parties this agreement they have granted pittston the right first refusal their shares wtc has granted pittston option buy wtc shares equal poct its outstanding stock the agreement subject approval both boards and wtc shareholders pittston said described wtc fast growing air freight forwarding company with operations throughout the world its revenues totaled nearly mln dlrs the year ended november and for the quarter ended that date earned mln dlrs revenues mln dlrs pittston said its burlington air express subsidiary generates about two thirds its mln dlrs annual revenes with its domestic air freight services reuter 
earn	sdc sydney cost review may eliminate products sdc sydney development corp earlier reporting increased nine month operating loss said cost control review now underway may result cost reduction and elimination unprofitable and non strategic products and services the company operating loss for the nine months ended december increased mln dlrs from loss mln dlrs the prior year said earlier revenues increased pct 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 will issue shares buy stakes three brazil mining firms 
earn	whittaker corp wkr qtr jan net oper shr cts cts qtly div cts cts prior oper net sales mln mln note prior year net excludes loss from discontinued operations dlrs company said common shares outstanding down significantly reflecting retirement about shares since start restructurining august dividend pay april record april reuter 
earn	stop and shop cos inc shp qtr jan net oper shr dlrs dlrs oper net mln mln sales billion mln avg shrs mln mln year oper shr dlrs dlrs oper net mln mln sales billion billion avg shrs mln mln notes operating net excludes losses mln dlrs cts share dlrs two cts share quarter and mln dlrs cts share mln dlrs cts share from discontinued operations this includes provision latest quarter mln dlrs for closing almys department store operating net latest quarter and year includes dlrs charge for restructuring announced early january reuter 
earn	jim walter corp jwc regular dividend qtly div cts cts prior qtr payable april one record march reuter 
acq	diagnostic drs makes bid for rospatch rpch diagnostic retrieval systems inc said has made offer acquire through wholly owned unit all outstanding shares rospatch corp common stock for dlrs share cash about mln dlrs drs warfare systems producer said would make the transaction through cash tender offer for all but not less than pct rospatch outstanding common stock followed merger with rospatch labels high technology and wood producer the same purchase price per share drs said the deal subject approval the rospatch board and the tender offer expires march reuter 
earn	whittaker wkr have gains from sales whittaker corp said will have gain the sale discontinued businesses after any operating losses from the businesses until the dates disposition but will defer reporting the gain until its restructuring program hsa been substantially completed the company said the first quarter ended january completed the divestiture its health maintenance organization operations travelers corp tic sold its whittar steel strip operations dofascoxinc and sold its equity investment bertram trojan inc affiliate investcorp the company said has entered into definitive agreements sell whittaker general medical corp bennes marrel france and juster steel corp well the company said date has received proceeds about mln dlrs from divestitures and has used the funds reduce debt incurred the repurchase its common shares whittaker today reported first quarter earnings from continuing operations fell dlrs from dlrs year before the year earlier figure excluded dlr loss from discontinued operations reuter 
acq	the japan fund jpn gets buyout offer the japan fund inc said has received unsolicited offer from sterling grace capital management acting together with certain other persons and entities purchase all the assets the fund five pct below its aggregate net asset value the japan find said tne deal subject obtaining satisfactory financing and due diligence review added that the proposal has been referred its board directors for consideration reuter 
earn	samsung calendar div won won net profit billion won billion sales billion billion note company has set sales target billion won reuter 
earn	daewoo corp calendar div won won net profit billion won billion sales billion won bilion note company has set sales target billion reuter 
acq	corning offer share for each hazleton share under earlier agreement 
acq	bank new york have gain unit sale bank new york said and the management rmj securities corp have agreed sell pct their interests rmj holding corp british and commonwealth holdings plc and bank new york expects realize substantial gain the transaction rmj holding the holding company for rmj securities large broker government securities and agency obligations bank new york owns majority interest rmj holding and management rmj securities the remainder bank new york said the sale expected completed during the second quarter said and rmj securities management will continue own pct rmj holding for now but the agreement provides for the sale that remaining interest 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 hazleton laboratories corp has been established corning common share for each hazleton common share corning said the prospectus regarding the merger expected mailed tomorrow all hazleton holders record february hazleton shareholders will vote the proposed merger special meeting march reuter 
acq	bally bly completes purchase golden nugget bally manufacturing corp said completed the acquisition the golden nugget casino hotel atlantic city new jersey from golden nugget inc bally also acquired from golden nugget various parcels real estate atlantic city noted the transaction included mln dlrs cash and stock and the assumption mln dlrs mortgage reuter 
earn	warwick insurance managers inc wimi qtr oper shr cts cts oper net revs mln avg shrs year oper shr cts cts oper net revs mln mln avg shrs note net excludes investment gains dlrs dlrs quarter and dlrs dlrs year year net excludes dlr tax credit share adjusted for one for two reverse split november reuter 
earn	gelco corp qtr shr cts cts 
earn	strober organization inc strb qtr net shr cts cts net sales mln mln avg shrs five mln year shr cts cts net sales mln mln avg shrs five mln reuter 
crude	shell canada cuts crude oil prices canadian dlrs bbl effective march one 
earn	brenco inc bren declares qtly dividend qtly div three cts three cts prior pay april six record march reuter 
earn	massachusetts investors growth stock fund payout qtly div from income cts dlrs prior qtr including capital gains dlrs payable march record february reuter 
earn	premdor inc qtr net shr cts cts net revs mln mln year shr dlrs cts net revs mln mln reuter 
acq	american nursery ansy buys florida nursery american nursery products inc said purchased miami based heinl nursery inc for undisclosed terms heinl nursery has sales about mln dlrs and owns acres which are 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 cts cent prior period payable march record february reuter 
acq	esselte business esb unit buys antonson unit esselte business systems inc esselte meto division said has acquired the antonson america subsidiary antonson machines sweden esselte said the antonson unit based laporte indiana manufactures scales and label printers the company said the purchase part plan increase the range retail electronic scales being offered esselte the said the acquisition will enble esselte increase its distribution base its effort grow the reuter 
acq	four seasons buying marriott mhs hotel four seasons hotels inc and vms realty partners said they agreed acquire the santa barbara biltmore hotel california from marriott corp for undisclosed terms closing was expected march they added the companies said they would jointly own the hotel and rename the four seasons biltmore santa barbara they said they would spend more than mln dlrs enhance the biltmore position one the finest resort hotels north america chicago based vms realty real estate and development firm reuter 
earn	stone sto splits stock raises payout stone container corp said splitting its common stock for and increasing its dividend pct the dividend cts share increase five cts over the prior cts share pre split shares payable june holders record may the stock split also payable june holders record may reuter 
earn	ltd skii qtr jan net shr cts cts net rev mln mln six months shr cts cts net rev mln mln reuter 
earn	kapok corp kpk year sept loss shr loss cts profit cts net loss profit revs mln mln note prior year net includes gain sale property dlrs reuter 
crude	study group urges increased oil reserves study group said the united states should increase its strategic petroleum reserve one mln barrels one way deal with the present and future impact low oil prices the domestic oil industry policy now raise the strategic reserve mln barrels from its present mln help protect the economy from overseas embargo sharp price rise the aspen institute for humanistic studies private group also called for new research for oil exploration and development techniques predicted prices would remain about dlrs barrel for several years and then rise the mid with imports about pct consumption said instead that such moves increasing oil reserves and more exploration and development research would help guard against mitigate the risks increased imports reuter 
earn	tron international inc ktii qtr net oper shr profit cts loss dlrs oper net profit loss revs mln year oper shr profit cts loss dlrs oper net profit loss revs mln mln note net includes pretax unusual gain dlrs loss dlrs quarter and losses dlrs dlrs year items include settlement patent suit and provision for investment writeoff and item provision for loss sale scale business net both periods excludes dlr tax credit reuter 
earn	presidential realty corp pdo annual net shr dlrs dlrs net rev mln mln note net gain from property investments dlrs cts per share dlrs cts per share reuter 
acq	redstone details sweetened viacom via offer investor sumner redstone who leads one the two groups vying for control viacom international inc offered sweeten his bid for the company dlrs share cash and dlrs securities filing with the securities and exchange commission redstone who controls dedham mass based national amusements inc theater chain operator offered raise the cash portion its viacom offer dlrs share from dlrs redstone also raised the face value the preferred stock offering dlrs from six dlrs the redstone offer which being made through arsenal holdings inc national amusements subsidiary set for that purpose which also give viacom shareholders one fifth share arsenal common stock after the takeover viacom said earlier today received revised takeover bids from redstone and mcv holdings inc group led viacom management which competing with redstone for control the company and already has formal merger agreement with viacom the company did not disclose the details the revised offers but said special committee its board would review them later today the redstone group which has pct stake viacom and the management group which has pct stake have both agreed not buy more shares the company until merger completed unless the purchases are part tender offer for least half the outstanding stock the two rivals also signed confidentiality agreements which give them access viacom financial records provided they keep the information secret his sec filing redstone who estimated his cost completing the takeover billion dlrs said bank america confident can raise billion dlrs besides the financing would raise through bank syndicate bank america has also agreed provide separate mln dlr for the limited purpose partial financing and has committed provide another mln dlrs redstone said merrill lynch pierce fenner and smith inc has increased its underwriting commitment mln dlrs subordinated financing debt for the viacom takeover from the mln dlrs agreed underwrite earlier redstone said redstone said his group would contribute more than mln dlrs equity toward the takeover the redstone equity contribution the takeover would consist all his group viacom common shares and least mln dlrs cash said the new offer the second sweetened deal redstone has proposed his month long bidding war with management also contains newly drawn proposed merger documents said last week the management group submitted what called its last offer for the company valued mln dlrs and consisting dlrs share cash preferred stock valued eight dlrs share and equity the new company redstone previous offer had been valued billion dlrs reuter 
acq	montedison concludes talks with antibioticos montedison spa moni said has concluded its negotiations with spanish pharmaceuticals company antibioticos company spokesman told reuters have concluded the talks and are now awaiting authorization from spanish authorities declined comment further earlier today the italian company postponed scheduled press conference its talks with antibioticos italian press report today said montedison has agreed acquire antibioticos for billion lire reuter 
acq	utilicorp ucu completes acquisition utilicorp united inc said completed the acquisition west virginia power from dominion resources for about mln dlrs the sale was approved the west virginia public service commission january and became effective march one west virginia management will continue responsible for operating the utility said reuter 
crude	study group urges increased oil reserves study group said the united states should increase its strategic petroleum reserve one mln barrels one way deal with the present and future impact low oil prices the domestic oil industry policy now raise the strategic reserve mln barrels from its present mln help protect the economy from overseas embargo sharp price rise the aspen institute for humanistic studies private group also called for new research for oil exploration and development techniques predicted prices would remain about dlrs barrel for several years and then rise the mid with imports about pct consumption the study cited two basic policy paths for the nation protect the industry through import fee other such device accept the full economic benefits cheap oil but the group did not strongly back either option saying there were benefits and drawbacks both said instead that such moves increasing oil reserves and more exploration and development research would help guard against mitigate the risks increased imports reuter 
acq	carbide looks acquisitions for growth union carbide corp looking acquisitions and joint ventures aid its chemicals and plastics growth according the lichtenberger president chemicals and plastics describing this major departure the company approach commercial development told the annual new business forum the commercial development association are looking acquisitions and joint ventures when they look like the fastest and most promising routes the growth markets identified not very long ago union carbide had the attitude that couldn ourselves wasn worth doing was worth doing had alone lichtenberger explained said there are times when exploiting profitable market done best with partner nor see any need plow resources into technology may not have can link profitably with someone who already there said carbide has extended its catalyst business that way and now extending its specialty chemicals business the same way reuter 
acq	corrected bankamerica negotiating sale units bank america and bac west german branch said negotiating the sale bankhaus centrale credit small local west german bank acquired and its west german visa credit card operation michael seibel bank america vice president and regional manager said the negotiations were proceeding well declined give further details bank america west german branch lost some mln marks the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation the sale the units part the bank worldwide restructuring plan reuter 
earn	franklin gold fund cuts dividend semi div cts cts prior pay march record march two reuter 
earn	franklin california tax free income fund payout mthly div cts cts prior pay march record march two reuter 
earn	franklin age high income fund sets payout mthly div cts cts prior pay march record march two reuter 
crude	petro canada cut crude prices canadian dlrs bbl effective march one 
earn	franklin federal tax free income fund payout mthly div cts cts prior pay march record march two reuter 
earn	franklin new york tax free income fund payout mthly div cts cts prior pay march record march two reuter 
earn	franklin government securities fund payout mthly div six cts six cts prior pay march record march two reuter 
earn	first mississippi corp frm sets payout qtly div six cts six cts prior pay april record march reuter 
ship	rotterdam port union and employers meet dutch port and transport union fnv agreed employers request reconvene abandoned peace talks tonight try end strikes that have disrupted rotterdam general cargo sector for the past six weeks union spokesman said talks broke down thursday when the union walked out after employers tabled their final offer end the strikes which started january protest planned redundancies from the sector workforce starting with this year the employers invitation restart the talks comes the day deadline set minister social affairs louw graaf for resolution the dispute expires graaf said the dispute had not ended today would withdraw the mln guilder annual labour subsidy the sector comment was immediately available from the employers organization reuter 
earn	jim walter corp jwc sets payout qtly div cts cts prior pay april one record march reuter 
earn	japan ntt forecasts profits fall nippon telegraph and telephone corp ntt expects its profits fall billion yen the year ending march from projected billion this year the company said total sales for the same period are expected rise billion yen from projected billion this year ntt said business operations plan submitted the post and telecommunications ministry ntt said plans make capital investments billion yen including billion for research and development against total billion this year reuter 
earn	duro test corp dur qtr jan net shr cts cts net revs mln mln six mths shr cts cts net revs mln mln reuter 
earn	franklin utilities fund sets payout qtly div cts cts prior pay march record march two reuter 
earn	gelco corp gel qtr jan net shr cts cts net revs mln mln avg shrs mln mln six mths shr cts net revs mln mln avg shrs mln mln note fiscal second quarter and first half earnings include gain mln dlrs and exclude preferred dividend requirements five mln dlrs the quarter and mln dlrs the first half fiscal net reduced currency losses equal six cts share the second quarter and equal nine cts the six months reuter 
earn	internchange financial services isbj payout qtly div cts cts prior pay april record march note interchange financial services corp reuter 
acq	kapok corp kpk technical default kapok corp said techical default its loans from southeast banking corp stb and murray steinfeld but negotiating with the lenders said neither has declared the loans due the company said has agreed sell the peter pan restaurant urbana for dlrs one mln dlrs after the payment expenses reuter 
earn	newport corp nesp qtr jan net shr cts cts net sales mln six mths shr cts cts net sales mln mln reuter 
earn	kapok corp kpk qtr dec loss shr loss cts loss cts net loss loss revs avg shrs reuter 
earn	preferred healthcare ltd phcc qtr net shr six cts four cts net revs mths shr cts cts net revs reuter 
earn	tranzonic cos tnz sets quarterly qtly div cts cts prior pay april record march reuter 
earn	cronus industries inc crns qtr loss oper shr loss cts loss cts oper net loss loss revs mln mln mths oper shr loss cts loss cts oper net loss loss revs mln mln note excludes income from discontinued operations for qtr and mln for year excludes extraordinary charge for current qtr and for year reuter 
earn	mercury entertainment corp mcry year nov shr loss four cts loss one net loss loss revs reuter 
earn	benguet corp calendar net income mln pesos mln operating revenues billion billion operating profit mln mln earnings per share note company statement said gold operations contributed pct consolidated earnings reuter 
crude	unocal ucl unit cuts crude oil posted prices unocal corp union oil said lowered its posted prices for crude oil one dlrs barrel the eastern region the effective feb union said dlrs cut brings its posted price for the benchmark grade west texas intermediate dlrs louisiana sweet also was lowered dlrs dlrs the company said changes were made union posted prices for west coast grades crude oil the company said reuter 
acq	investor group has talks with pesch ami ami wedge group inc houston investment firm with pct stake american medical international inc said has had talks with pesch and which seeking control the company filing with the securities and exchange commission wedge which owned issam fares lebanese citizen living switzerland also said discussed the possibility joining with others its own bid seek control ami wedge stressed that has current plans seek control ami but refused rule out takeover try the future wedge said has had discussions with ami management pesch the closely held health care and investment concern controlled chicago physician leroy pesch and other ami shareholders did not specify its sec filing which issues selling its ami stake joining with others takeover try were discussed with which group but said the talks did not produce any agreements understandings wedge said believes that some form restructuring ami and its business would highly desirable and appropriate this time wedge which holds mln shares ami common stock said plans hold further talks with company management pesch and other shareholders pesch last week sweetened his bid for the company dlrs share cash and securties billion dlrs based ami total outstanding from all cash dlr share bid which the company rejected reuter 
earn	international inc imsi sets quarterly qtly div four cts four cts prior pay march record march reuter 
acq	banner bnr completes tender for rexnord rex banner industries inc said mln the outstanding mln shares rexnord inc were tendered pursuant its dlr share offer that closed midnight est feb together with the five mln rexnard shares already owns the company said now holds pct stake the company said the completion the deal subject approval rexnard holders and other closing conditions expects the deal close about days reuter 
earn	mutual omaha interest shares muo qtly div qtly div cts cts prior pay april one record march reuter 
acq	corrected bankamerica negotiating units sale bank america and bac west german branch said negotiating the sale bankhaus centrale credit small local west german bank acquired and its west german visa credit card operation michael seibel bank america vice president and regional manager said the negotiations were proceeding well declined give further details bank america west german branch lost some mln marks the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation the sale the units part the bank worldwide restructuring plan corrects year loss third paragraph item which originally ran february reuter 
acq	osr osrc make acquisition osr corp said has agreed acquire the properties and assets telcom international group for mln common shares which would give former telcom owners pct interest the combined company telcom international film and television distributor the assets being acquired consist mostly distribution rights films valued over one mln dlrs the company said osr said part the acquisition agreement required sell its pct interest standard knickerbocker ltd which makes jeans canada osr said expects net about dlrs the sale standard knickerbocker the company said both transactions are subject approval shareholders meeting held april may said reuter 
earn	mercury entertainment mcry sees better results mercury entertainment corp said expects improved results the company today reported loss for the year ended november dlrs revenues dlrs compared with loss dlrs revenues dlrs year before reuter 
acq	cronus industries inc crns sells unit cronus industries inc said agreed sell its heat transfer equipment business southwestern engineering for slight premium over book value plus release cronus from liability approximately three mln dlrs subsidiary indebtedness the company said the sale subsidiary senior engineering group plc british company will take place this month reuter 
earn	unisys corp uis sets quarterly qtly div cts cts prior pay may seven record april seven reuter 
earn	jacobson jcbs votes split increases payout jacobson stores inc said its board voted three for two stock split payble march record march other action jacobson directors approved increase its quarterly dividend cts post split basis payable april record march the new dividend rate represents pct increase over the cts paid quarterly pre split basis reuter 
earn	harley davidson inc hdi qtr net oper shr cts cts oper net revs mln mln avg shrs year oper shr cts cts oper net revs mln mln avg shrs note results exclude one time gains four cts and cts for qtr and year gains dlrs and dlrs for prior periods reuter 
acq	hoechst completes celanese acquisition hoechst west germany said has completed the acquisition celanese corp hoechst acquired majority celanese shares recent tender offer dlrs per common share reuter 
acq	americus trust hpu extends deadline americus trust for american home products shares said extended its deadline for accepting tendered shares until november extension nine months the trust which will accept mln shares american home products ahp said has already received tenders for about four mln shares the trust managed alex brown and sons inc absb and was formed november reuter 
earn	morse shoe inc mrs qtr net shr cts cts net revs mln mln mths shr dlrs dlrs net revs mln reuter 
ship	versatile build polar ice breaker versatile corp shipbuilding subsidiary has letter intent build mln dlr polar icebreaker for the canadian coast guard transport minister john crosbie said vancouver address crosbie said versatile pacific shipyards inc was the low bidder build the arctic class icebreaker but the company must meet certain financial and engineering conditions before the contract awarded the government also announced will provide mln dlrs loan insurance help versatile prepare for the construction the vessel said before the contract can awarded versatile will required offer assurances that the shipyard technically and financially capable performing the work crosibie said versatile bid was mln dlrs lower than competing bidders and will generate person years direct employment work the vessel which crosbie said would the most powerful icebreaker the world would begin next year and completed the government announced plans build the icebreaker last year following the controversial passage the coast guard vessel the polar sea through the disputed northwest passage the government did not seek permission for the journey claiming the area was international water way the government said the icebreaker was needed back the country claim sovereignty the arctic reuter 
acq	pantry inc inb talks being acquired privately held pantry inc which operates convenience stores five southeastern states said has engaged alex brown and sons inc absb explore possbile sale the company said expects start talks with prospective acquirers shortly the company said has been approached number parties recent months reuter 
earn	congress video group inc cvgi qtr net qtr ends dec shr profit three cts loss three cts net profit loss revs avg shrs nine mths shr loss cts profit cts net loss profit revs mln avg shrs note net includes tax gain carryforward from discontinued operations master merchandise group year prior reuter 
acq	renouf corp proceed with benequity bid renouf corp new zealand said has decided proceed with its offer for all outstanding units benequity holdings dlrs per unit the company had been required redice march two whether proceed with the offer terminate based its ability obtain financing and its review benequity operations the offer expire march reuter 
earn	thunander corp thdr year net shr cts cts net sales mln mln note results include operations bmd new england inc acquired sept reuter 
earn	final trust for thrift institutions payout set massachusetts financial services said has set the final income and capital gain distributions for trust for thrift institutions high yield series dlrs and dlrs respectively payable today reuter 
earn	rospatch respond diagnostic bid 
earn	franklin insured tax free sets payout mthly div cts cts prior pay march record march note franklin insured tax free income fund reuter 
earn	franklin minnesota insured sets payout mthly div cts cts prior pay march record march note franklin minneosta insured tax free income fund reuter 
earn	franklin michigan insured sets payout mthly div cts cts prior pay march record march note franklin michigan insured tax free income fund reuter 
earn	franklin massachusetts insured cuts payout mthly div cts 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 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 expects maintain the same compound average annal net income growth the company has for the past five years expect the same performance net income over the next five years have had the past ziering said over the past five years ziering said the company has had average compound net income growth pct annually with pct per year growth earnings per share for the company had net income mln dlrs dlrs per share mln dlrs cts per share diagnostic manufactures medical immunological diagnostic test kits ziering said expects the earnings growth result from positive effect the weaker dollar the company exports sales well accelerated market penetration ziering said expected the food and drug administration approve three more its drug abuse test kits the end the year which depending approval should also help earnings growth ziering said result the new tax laws expected the company taxes decrease five pct pct net income reuter 
earn	dunkin donuts inc dunk qtr jan net shr cts cts net revs mln mln reuter 
earn	ccr video corp cccr qtr nov net shr profit two cts loss cts net profit loss revs reuter 
earn	franklin puerto rico tax free sets payout mthly div cts 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 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 cts prior pay march record march note franklin high yield insured tax free income fund reuter 
acq	convergent technologies cvgt buy oakleaf convergent technologies inc said has reached agreement principle buy oakleaf corp which supplies finance insurance and leasing computers auto dealers the transaction will involve exchange oakleaf stock for cash and debt and subject definitive agreement the companys said other terms were disclosed oakleaf had sales about mln dlrs reuter 
crude	nymex will expand off hour trading april one the new york mercantile exchange set april one for the debut new procedure the energy complex that will increase the use energy futures worldwide april one nymex will allow oil traders that not hold futures position initiate after the exchange closes transaction that can subsequently hedged the futures market according exchange spokeswoman this will change the way oil transacted the real world said said thomas mckiernan mckiernan and chairman foreign traders will able hedge trades against nymex prices before the exchange opens and negotiate prices differential 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 century resources inc the rule change which has already taken effect for platinum futures nymex expected increase the open interest and liquidity energy futures according traders and analysts currently least one trader this transaction called exchange for physical efp must hold futures position before entering into the transaction under the new arrangement neither party has hold futures position before entering into efp and one both parties can offset their cash transaction with futures contract the next day according exchange officials when nymex announced its proposed rule change december nymex president rosemary mcfadden said expansion the efp provision will add globalization the energy markets providing for effect hour trading the commodity futures trading commission approved the rule change february according cftc spokeswoman reuter 
acq	rospatch rpch respond diagnostic drs rospatch corp said will have news release later response today acquisition bid diagnostic retrieval systems inc for dlrs share rospatch earlier requested its stock halted over the counter trading last trade diagnostic said its bid was for total mln dlrs through cash tender offer for all but not less than pct rosptach outstanding common for its fourth quarter ended december rospatch reported net loss dlrs share compared loss cts profit for the period december the brookehill group new york said had pct stake parini rospatch chief executive responded january eight saying the investment was vote confidence the company reuter 
earn	green tree acceptance inc gnt sets dividend qtly dividend cts 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 north american acquisition corp said has definitive agreement buy pct pioneer business group inc atlanta terms the acquisition were not disclosed closing the acquisition scheduled for april north american acquisition said the agreement subject due diligence and satisfactory review pioneer operation pioneer makes business forms reuter 
acq	talking point viacom international via bidding war for viacom international inc one the largest entertainment companies pitted management group and other investors against national amusements inc closely held theater operator both sides raised their bids over the weekend source close the management side insisted that timing was his side said outside directors approve the management proposal merger plan could put vote shareholders with proxy material going out late this week would take days from the day mail said the source the source predicted national amusements controlled investor sumner redstone would need half year complete tender offer because the regulatory approvals that must accompany any change control viacom broadcast licenses and cable television franchises redstone was not available for comment some wall street arbitrage players said was rare situation that could only enjoyed true bidding war one said redstone could begin tender offer whenever wanted and enough people were convinced his proposal was superior the viacom management plan would have chance win the independent directors viacom were called into meeting today word decision was expected early tomorrow viacom shares climbed midafternoon one major wall street firm issued sell recommendation think the end now terms bidding said the firm arbitrageur who spoke condition not identified both redstone proposal and the management proposal would create restructured company heavily leveraged with debt the management plan would result balance sheet with about billion dlrs debt and nearly mln dlrs preferred stock convertible into pct the common stock redstone newest proposal offers holders dlrs cash fraction share exchangeable preferred stock with value dlrs and one fifth share common stock stock arsenal holdings representing pct the equity interest the restructured viacom one arbitrageur calculated the equity the redstone plan was worth dlrs making the total package worth dlrs per share management offered dlrs cash exchangeable preferred stock worth dlrs and fractional share convertible preferred the arbitrageur said the equity portion was worth about dlrs for total dlrs redstone newest plan raised the amount interest would pay the cash portion his offer for every day beyond april that merger with arsenal not consummated the plan calls for intest paid annual rate nine pct during may and pct thereafter previously redstone offered eight pct interest other arbitrageurs said both redstone and the management group led president and chief executive terrence elkes were offering high prices redstone really wants own the company one said another said management seemed have the edge the timing issue redstone company owns pct viacom mln shares wall street analyst said was hard determine what the equity the newly leveraged company would worth noted example that new stock fmc corp fmc which adopted highly leveraged structure last year inititally traded dlrs per share dipped nine dlrs and 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 warner communications inc wci rose analysts noted warner owns warrants purchase mln viacom shares dlrs and another mln shares dlrs chris craft industries ccn which owns stake warner rose viacom was created and spun off from cbs inc cbs the company has cable television subscribers operates nine satellite television services and owns television and radio stations one the largest distributors films and other programs for television reuter 
earn	right inc upri qtr oper net oper shr five cts cts oper net revs mln mln year oper shr cts cts oper net revs mln mln note oper data does not include qtr extraordinary credit dlrs qtr extraordinary loss dlrs five cts per shr for year does not include extraordinary credit dlrs three cts per shr and dlrs five cts per shr reuter 
trade	talks show new canadian confidence group says canada decision raise the issue free trade pact with the was sign what many see new spirit canadian self confidence public policy study group said suggests the canada the immediate post war period when was major player the process building postwar world the washington based atlantic council said and canadian negotiators opened talks last summer aimed dismantling trade barriers between the two countries the world biggest trading partners with crossborder shipments about billion dlrs annually the council study said the trade talks with deadline october for agreement are the biggest issue canadian relations the study said liberalized trade between the two countries would improve the competitiveness their economies world markets and lessen trade irritants which now mar their ties the council said the past most canadians have shied away from the notion free trade arrangement fearing overwhelmed economically and politically closer association with country times their size population but the same time added canadians realized their domestic market was too small permit the mass production and sales needed raise productivity the level demanded increasingly competitive world the council said that the talks canada chiefly interested minimizing the imposing duties against allegedly subsidized exports recent example was the per cent duty the imposed canadian lumber exports grounds the shipments were being subsidized the council said the chief concerns included ending curbs against banking insurance telecommunications and the called cultural industries publishing broadcasting and films said other major canadian issues were defense cooperation acid rain and the rejection canadian assertion sovereignty over waters the northwest passage reuter 
earn	albertson inc abs raises qtly dividend shr cts cts pay may record may eight reuter 
acq	wavehill international make acquisition wavehill international ventures inc said has agreed acquire personal computer rental corp coral gables fla transaction which shareholders personal computer will receive shares respresenting about pct interest the combined company the company said will have about two mln shares outstanding fully diluted basis after the transaction said after the acquisition will infuse perconal computer with cash for expansion said personal computer now has franchised locations and plans add over seeking eventually expand into markets the and abroad reuter 
acq	security pacific spc completes merger security pacific corp said completed its planned merger with diablo bank following the approval the comptroller the currency security pacific announced its intention merge with diablo bank headquartered danville calif september part its plan expand its retail network northern california diablo has bank offices danville san ramon and alamo calif security pacific also said reuter 
earn	intec inc intk qtr net shr six cts five cts net revs mln mln avg shrs mths shr cts dlrs net revs mln mln avg shrs note net for includes cts per share for proceeds life insurance policy includes tax benefit for prior qtr approximately which relates lower effective tax rate based operating results for the year whole reuter 
earn	int hydron corp hyd qtr oper net oper shr profit six cts loss cts oper net profit loss revs mln mln year oper shr profit cts profit three cts oper net profit profit revs mln mln note excludes loss dlrs nil gain dlrs nil qtr and gain dlrs two cts gain dlrs one year from net operating loss carryforwards reuter 
acq	albertson abs adopts stockholder rights plan albertson inc said its board has adopted stockholder rights plan intended protect them the event any proposed takeover the company under the plan stockholders will receive dividend distribution one right for each share common stock held march the rights are exercisable ten days after person group acquires pct more alberston common stock announces tender offer for pct more the stock each right will entitle the shareholder buy one newly issued share alberston common stock for dlrs reuter 
acq	rospatch rpch rejects diagnostic drs bid rospatch corp said rejected proposal diagnostic retrieval systems inc acquire its stock dlrs share rospatch board believes that the long term interests its shareholders will best served continuing independent public company this time the company said response unsolicited offer from diagnostic retrieval rospatch said diagnostic offer february variation previous offer january the nature which was not disclosed rospatch said advised diagnostic retrieval that would contrary the best interests the corporation engage any discussions concerning business combination with diagnostic retrieval reuter 
earn	syntech interenational inc syne qtr net shr profit six cts loss dlrs net profit loss revs year shr profit cts loss dlrs net profit loss revs mln mln reuter 
acq	int minerals igl buys animal products unit international minerals and chemical corp said completed its acquisition johnson and johnson pitman moore unit producer animal health products terms the acquisition were not disclosed international minerals and chemical said annual sales 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 group seeking shares jwt group inc has not been approached former ted bates worldwide chairman robert jacoby about the possibility syndicate buying pct stake jwt group friendly basis company spokesman said said jwt would have comment advertising age report that jacoby considering heading venture capital syndicate purchase pct stake jwt group jacoby was not immediately available for comment the report ted bates now owned saatchi and saatchi the world largest advertising agency reuter 
earn	coeur alene mines corp cour qtr loss shr loss cts loss one net loss loss revs year shr loss cts loss ten cts net loss loss revs mln note loss included one time loss dlrs write off certain silver oil and gas interests reuter 
acq	foote mineral fte sells cambridge plant foote mineral said signed letter intent with shieldalloy corp wholly owned subsidiary metallurg inc for the sale its cambridge ohio business the company said the sale which will explained greater detail after the definitive agreement has been signed part foote previously announced plan sell the entire company reuter 
earn	gelco gel sees flat pretax operating net gelco corp said that excluding the effects restructuring plan expects pre tax operating earnings for the year end july about the same those last year for the year ended july gelco reported pre tax operating earnings mln dlrs dlrs share however final results will affected certain charges including legal and investment advisors fees preferred stock dividends and other costs restructuring said expenses associated with restructuring are expected offset significant gains from the sale some gelco business units said the final outcome for the fiscal year will determined the timing and proceeds from the sale added reuter 
acq	utilicorp ucu acquires dominion subsidiary utilicorp united inc said has closed the previously announced acquisition west virginia power from dominion resources inc for about mln dlrs reuter 
acq	pesch sees shareholder support ami ami bid chicago physician leroy pesch said has had discussions with several american medical international inc shareholders and sees support for restructuring the company pesch said has discussed his sweetened billion dlr takeover bid for american medical with several large shareholders including the biggest investor the bass family texas however the bass family has not indicated support one way the other for his offer said pesch interview with reuters said based the conversations held with shareholders could not guage whether had majority support said however there support for his offer pesch would not identify shareholders with whom held discussions other than the bass family and the wedge group inc the only other holder more than five pct american medical stock earlier today wedge group which has pct stake said held discussions with pesch american medical management and other american medical shareholders wedge filing with the securities and exchange commission said believes restructuring american medical and its business would highly desirable and appropriate this time that the sort position that find large segment shareholders ami really share said pesch pesch said held discussions with wedge about joining his takeover effort which offering dlrs cash four dlrs preferred stock and one dlr common stock for each american medical share wedge said has plans join effort seek control american medical but would not rule out future takeover try pesch said did not discuss joint takeover proposal with the bass family some analysts saw the wedge statement boost pesch takeover effort and further sign that there could some shareholder dissatisfaction following american medical previous rejection dlr per share all cash offer from pesch american medical expected resist pesch latest bid larry feinberg analyst with dean witter reynolds inc said management led leveraged buyout cannot ruled out american medical spokesman said the company will comment the new pesch offer march analysts continue view the bass family factor the outcome the bid for control american medical the bass family holds pct stake american medical and the company has previously said the investors support management internal plan improve the company performance the bass family would not comment american medical pesch pesch who led the leveraged buyout republic health corp last year continues face credibilty problem wall street because the long time took finish the republic acquisition republic also has substantial debt and has left wall street questioning whether financing can completed for the much larger american medical takeover proposal pesch first offer for american medical was made without investment banking firm another cause for concern wall street however pesch entered his second offer with representation from donaldson lufkin and jenrette securities and security pacific merchant banking group don have any doubt that the current transaction can worked out and completed provided get the point where ami management will sit down and talk friendly environment pesch said pesch would not elaborate what type financing arrangements are being made did say succeeds acquiring american medical plans keep much american medical management place said plans combine the company with republic form efficient network hospitals analysts said they not believe much higher offer could made for american medical byron nimocks 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 cts compared loss last year nimocks said pesch revised offer not worth much more than the dlrs cash offered previously but feinberg said there better chance transaction could completed because the revised structure the offer think much more doable said analysts have said american medical has begun turnaround replacing some members management and reducing costs reuter 
earn	glamis gold ltd glgvf six mths dec net shr cts cts net revs reuter 
acq	approves buyout coastal bancorp csbk coastal bancorp said the federal reserve board approved the acquisition coastal suffield financial corp ssbk the acquisition still requires approval from the banking department maine the company noted reuter 
earn	little prince productions ltd ltlp qtr loss qtr ended dec shr profit nil loss nil net profit loss revs reuter 
acq	amca ail sell some dominion bridge assets amca international ltd said finalized agreement sell certain assets and inventories its dominion bridge steel service center operations federal industries ltd russelsteel inc unit terms were undisclosed said the sale involved assets and operations the general line steel service centers toronto and edmonton alberta and steel from inventories closed amca branches the company said the sale was part previously announced restructuring program allow focus certain core businesses and generate cash cut debt reuter 
acq	scott hospitality acquires capital food scott hospitality inc said acquired capital food services ltd ottawa largest catering and food service company for undisclosed terms scott said would operate capital food separate unit under capital current name and management reuter 
acq	union national unbc signs definitive pact union national corp said signed definitive agreement under which its first national bank and trust washington unit will merge with second national bank masontown under previously announced merger agreement each share second national common stock will converted into shares union national common reuter 
acq	analysts see other bidder for purolator pcc several analysts said they not believe another suitor will top the mln dlr bid for purolator courier corp hutton lbo inc and management group from purolator courier division there had been speculation another offer might forthcoming but analysts mostly believe the dlrs per share price being paid hutton and the managers acquisition inc fully valued analysts and some wall street sources said they doubted another bidder would emerge since purolator had been for sale for sometime before deal was struck with hutton friday purolator stock slipped today close had been trading slightly higher than the dlr offer friday least one analyst friday speculated the company might fetch dlrs per share analysts and wall street sources doubted competitive offer would emerge since the company has been for sale for sometime before the deal with hutton was struck friday hutton had been talks with purolator adviser dillon read and since late december hutton spokesman said hutton offering dlrs cash per share for pct the shares all shares are tendered shareholders would receive dlrs cash six dlrs debentures and warrants for stock subsidiary acquisition containing the purolator courier operation hutton values the warrants two three dlrs per share wall street sources also said today that rival bidder might discouraged breakup fee purolator would have pay ends its agreement with hutton the sources would not reveal the amount the fee which will noted documents the transaction made public later this week reuter 
earn	whitehall corp wht qtr net shr cts cts net revs year shr cts dlrs net revs mln mln reuter 
earn	service corp international srv qtr net qtr ended jan shr cts cts net mln mln revs mln mln avg shrs mln mln nine mths shr cts cts net mln mln revs mln mln avg shrs mln mln note net for nine mths includes gains from dispositions dlrs four cts share dlrs two cts share avg shrs and shr data restated reflect three for two stock split january reuter 
earn	peoples bancorporation peop quarterly dividend qtly div cts cts pay april record march reuter 
earn	cpl reit cntrs 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 qtr loss shr loss cts loss cts net loss loss revs mln mln year shr loss dlrs loss cts net loss loss revs mln mln reuter 
earn	realmerica raco year nov net shr profit four cts loss cts net profit loss note net includes tax credit dlrs one per share reuter 
earn	ltd skii qtr jan net shr cts cts net revs mln mln six mths shr cts cts net revs mln mln reuter 
acq	ferro corp foe sets joint venture ferro corp said has formed joint venture with paris based alsthom inudstrial group export epxertise specialty composite materials the european market ferro said although the airframe and aerospace industries are the prime users composite materials today plans develop applications for the ground transportation and industrial markets the near future ferro also announced has agreed purchase compositair developer composit materials applications for undisclosed sum reuter 
crude	nymex rule change seen boosting energy trade the new york mercantile exchange said will introduce exchanges for physicals efps its energy futures markets april one exchange spokeswoman said the change will allow oil traders that not hold futures position initiate after the exchange closes transaction that can subsequently hedged the futures market efps already effect for platinum futures nymex are expected increase the open interest and liquidity energy futures according traders and analysts the commodity futures trading commission approved the rule change february according cftc spokeswoman reuter 
acq	ccl unit acquires nestle canada can operations ccl industries inc continental can canada inc unit said acquired the wallaceburg ontario metal can making operations nestle enterprises ltd wholly owned nestle switzerland terms were undisclosed continental can said would supply nestle equivalent can requirements under long term agreement nestle said decided stop manufacturing cans order better position take full advantage the changes underway the horizon food packaging technology reuter 
earn	mfs managed muncipal bond trust sets payout mfs managed muncipal trust bond said declared monthly payout income distribution cts share compared with cts for the previous month said the distribution payable march shareholders record march two reuter 
earn	mfs municipal income trust mfm sets payout mfs municipal income trust said declared monthly income distribution cts share compared with cts share paid the previous month said the distribution payable march shareholders record march reuter 
earn	pittway corp pry qtr net shr dlrs two dlrs net sales mln mln year shr dlrs dlrs net sales mln mln reuter 
acq	armtek arm sell industrial tire unit armtek corp previously the armstrong rubber said agreed sell its industrial tire and assembly division dyneer corp dyr for undisclosed sum said the agreement covers the division tire production facility clinton tenn and its plants serving original equipment and replacement markets armstrong tire armtek unit will continue sell replacement industrial tires the company said final closing expected the third fiscal quarter ending june reuter 
earn	petrolite corp plit sets payout qtly dividend cts cts pay april record april reuter 
crude	greece says has right aegean oil drilling greece responding warning turkey against conducting oil activities the aegean sea said today had the right decide where and how research drilling work the area government spokesman said the greek position was made clear turkey ambassador nazmi akiman when met greek foreign affairs undersecretary yannis kapsis last week acting turkish prime minister kaya erdem said earlier today greek activities the northern aegean contravened the berne agreement which set the framework for talks the aegean continental shelf disputed between ankara and athens the greek statement today said greece not prepared give even trace its sovereignty rights the seabed has been stressed akiman that the decision where how drill belongs exclusively the greek government the greek government has repeatedly let the turkish side know that considers the berne protocol inactive through the fault turkey said the greek statement said athens was ready put the continental shelf issue before international courts reuter 
acq	leucadia luk has pct minstar mnst leucadia national corp said two its subsidiaries have acquired pct stake minstar inc corporation controlled corporate raider irwin jacobs and used him his forays acquire stock companies filing with the securities and exchange commission leucadia said its lnc investments inc newark del investment firm and charter national life insurance louis joint stock life insurance company bought their combined minstar common shares for investment purposes only the leucadia subsidiaries had held pct stake minstar but cut pct shares last july since july leucadia said its companies have bought minstar common shares for total mln dlrs leucadia said bought the minstar stake obtain equity position the company and has intention seeking control nearly half leucadia common stock owned tlc associates salt lake city utah general partnership whose partners include the chairman and president leucadia and other investors reuter 
earn	basix corp bas qtr loss oper shr loss eight cts profit cts oper net loss profit revs mln mln mths oper shr loss dlrs profit cts oper net loss mln profit revs mln mln note oper excludes loss from discontinued operations dlrs cts share for year ago qtr and dlrs cts share for year ago mths oper includes charge mln dlrs for cumulative effect repeal the investment tax credit for qtr and writedown mln dlrs gas and oil facilities for mths year ago shr data restated reflect two pct stock dividend december reuter 
acq	microbio mrc plans acquisition financing microbiological research corp said entered into letter intent for proposed business combination with privately owned datagene scientific laboratories inc and milex corp newly formed company through stock swap also said received dlrs from the sale convertible note ventana growth fund part overall equity financing plan with ventana under that plan minimum dlrs and maximum one mln dlrs additional new capital provided fund the combined operations the three companies microbiological also said that the maximum additional capital raised will own about pct shares common outstanding the new combined company datagene holders will own pct and ventana and others will own pct said the remaining nine pct will held milex shareholder norman monson who will become chief executive officer the combined companies reuter 
acq	painewebber pwj unit ups shaer shoe shs stake mitchell hutchins asset management inc new york investment firm and subsidiary painewebber group inc said raised its voting stake shaer shoe corp shares pct from shares pct filing with the securities and exchange commission mitchell hutchins said bought shares between jan and feb prices ranging from dlrs share and obtained voting control over another shares the firm has said bought the stake investment behalf its clients but said has had discussions with shaer management did not disclose the topic the talks reuter 
earn	telecredit inc tcrd qtr jan net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
earn	laser precision corp lasr qtr net shr profit cts profit two cts net profit profit revs year shr profit cts loss cts net profit loss revs mln reuter 
acq	rexnord rex redeem rights rexnord inc said will redeem all its preferred stock purchase rights for cts right effective today rexnord said the rights will redeemed because expected its shares will tendered under january takeover offer from banner acquisition corp the rights trade tandem with rexnord common stock reuter 
acq	cantrex unit merge with ontario group groupe cantrex inc said plans merge new wholly owned subsidiary merger agreement with cap appliance purchasers inc woodstock ontario group about appliance and electronics retailers said cap shareholders will receive first preferred groupe cantrex shares entitling the holders receive dlrs per share the equivilant class subordinate voting cantrex shares the merger effective april one and subject 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 ldbrinkman corp shares pct the total outstanding from shares pct filing with the securities and exchange commission fidelity international ltd bermuda based firm said its funds bought ldbrinkman common shares between jan and feb prices ranging from dlrs share funds controlled fmr corp boston based investment firm affiliated with fidelity hold shares bringing the combined total shares fidelity said reuter 
earn	itt itt hartford unit posts qtr gain hartford insurance group unit new york based itt corp said higher worldwide premiums help boost net income for the fourth quarter mln dlrs from net income mln dlrs for the quarter for the full year hartford said earned mln dlrs from mln dlrs hartford said results for the year were aided gain mln dlrs the sale its remaining pct stake abbey life group plc for the company posted gain mln dlrs the sale pct abbey life hartford said total property casualty and life health written premiums rose pct eight billion dlrs from billion dlrs reuter 
acq	sec probes tre tre takeover attempt the federal securities and exchange commission sec looking for possible securities laws violations connection with unsuccessful bid hollywood producer burt sugarman take over tre corp attorneys contacted sec investigators said during the takeeover attempt unit sugarman giant group ltd one point held pct stake tre had help that effort from jefferies group inc los angeles investment banking firm which sold option portion the shares sugarman eventually acquired addition company controlled sugarman raised mln dlrs debt offering underwritten drexel burnham lambert inc with help from jefferies and used portion the proceeds buy tre stock finally reliance group holdings inc acquired nearly six pct tre according seec filing the attorneys who asked not identified said the sec was investigating whether sugarman and other firms with tre holdings were working together without disclosing their cooperation would required the federal securities laws one attorney said sec probers also were examining whether sugarman and drexel had made adequate disclosures its intended usage the proceeds the prospectus for the mln dlr bond offering tre spokesman confirmed that tre since december unit aluminum america had been contacted sec investigators and was cooperating with the probe the spokesman added that tre chairman leopold wyler had been interviewed the sec probers jefferies spokesman said the sec had asked for information few months ago part informal probe the spokesman said jefferies had cooperated with the agency and had heard nothing more since that time the best our knowledge jefferies not the target formal sec investigation connection with the tre bid said drexel spokesman acknowledged that his firm had underwritten the debt offering for sugarman but added had nothing with tre matter policy the sec routinely declines comment its enforcement activities reuter 
ship	canadian seafarers threaten strike canadian seafarers are almost certain strike this spring refusal meet rollbacks wages and benefits asked for their employers seafarers international union official roman gralewicz said percent guarantee you strike gralewicz said interview the union represents about workers the great lakes and canada east and west coasts contract talks broke off january and conciliator has been appointed try help settle the dispute the current contract expires the end march the seafarers employers are also asking for reduction crew levels move which the union said would cost about jobs reuter 
earn	dallas corp dls qtr loss oper shr loss cts profit cts oper net loss pofit revs mln mln mths oper shr profit cts profit cts oper net profit profit revs mln mln note oper net excludes loss from discontinued operations dlrs cts share for year ago qtr and dlrs dlrs share for year ago mths reuter 
earn	dillard department stores inc dds qtr net qtr ended jan shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln mths shr dlrs dlrs net mln mln revs billion billion avg shrs mln mln note shr avg shrs data show for split nov reuter 
earn	kentucky central life kenca sets payout kentucky central life insurance said declared semi annual dividend cts per share payable march shareholders record march the dividend equal the company previous semi annual payout reuter 
earn	bank new england corp bkne qtly dividend qtly div cts cts prior pay april record march reuter 
earn	ford europe earnings pct last year ford europe net earnings soared per cent last year mln dlrs kenneth whipple chairman ford europe said whipple here attend the geneva auto show which opens thursday said that the ford motor unit had sold record million vehicles europe net earnings were mln dlrs sales represented per cent the european market share whipple said ford will invest billion dollars europe and total seven billion over the next seven years added reuter 
crude	opec within output ceiling subroto says opec remains within its agreed output ceiling mln barrels day and had expected current fluctuations the spot market one two dlrs indonesian energy minister subroto said told reporters after meeting with president suharto that present weakness the spot oil market was the result warmer weather the and europe which reduced demand for oil prices had also been forced down because refineries were using old stock said denied that opec was exceeding its agreed production ceiling asked what opec output level was now replied below mln barrels per day did not elaborate said there appeared have been some attempts manipulate the market but all opec members stick the cartel december pricing agreement would get through present price difficulties predicted that prices would recover again the third and fourth quarters also reiterated that there was need for emergency opec meeting said opec had expected see some fluctuations the spot price hope the weak price will overcome and predict the price will better the third and fourth quarters refiners said appeared have used old stock deliberately cause slack demand the market and the price fall but opec would get through this period members stuck together reuter 
earn	cra ltd net profit mln dlrs mln 
acq	transamerica sells occidental life australia equity investment company battery group ltd said had agreed buy occidental life insurance australia ltd from transamerica corp the for mln australian dlrs the acquisition has been made possible the efforts its major shareholder pratt and financial services pty ltd battery group said statement the purchase will partly funded the issue eight mln shares dlrs each and four mln free options the pratt group controlled entrepreneur dick pratt plus four mln shares professional investors each said the balance will funded debt battery group said the acquisition subject the approval its shareholders completion the share placements pratt group will effectively have pct battery enlarged capital assuming exercise all options said battery now has mln shares issue battery said occidental life major underwriter individual term life insurance and recent but fast growing entrant the individual account superannuation market has some mln dlrs funds under management reuter 
earn	cra ltd craa net net mln dlrs mln shr cents final div announced after july final cents making sales revenue billion billion investment income mln mln shrs mln mln note net after tax mln dlrs mln interest mln mln depreciation mln mln but before net extraordinary loss mln profit mln reuter 
earn	comalco ltd net profit mln dlrs loss mln 
earn	comalco ltd cmac net net profit mln dlrs loss mln net equity accounted pre equity accounted net mln dlrs loss mln pre equity shr profit cents loss final div announced after july first and final cent sales billion billion other income mln mln shrs mln same note net after tax paid mln dlrs credit mln interest mln mln depreciation mln mln and minorities mln loss but net before net extraordinary loss mln nil extraordinaries comprise exchange losses mln provision for goldendale smelter closure costs mln and increase future tax provision mln reuter 
trade	japan moves tighten chip export curbs the ministry international trade and industry miti acted tighten restrictions microchip exports countries other than the preserve japan pact semiconductor trade but major japanese chipmakers doubt its usefulness miti spokesman said his ministry had asked chipmakers issue certificates specified trading houses stating they are authorised exporters trading houses applying for miti export licence will required show such certificate but those without will not automatically denied licences said but some industry officials predicted any government measures were likely have limited effect long the world semiconductor market remained weak government and industry officials have complained repeatedly that japanese chipmakers continue sell below cost third countries despite the july agreement japanese firms and officials turn argue the flow cheap chips third countries due grey market sales third party brokers who seek profit from the gap between low prices japan and higher prices based production costs and set for japanese makers under the agreement the miti spokesman said the percentage grey market increasing for one specific company suggests they are distributing their products through their sales network knowing they will exported some means that case will ask them what they are doing reduce the figure miti earlier asked makers cut output certain chips pct first quarter spokesmen for the firms said but they doubt the usefulness the latest move long there gap between prices set under the pact and market prices there will people who want exploit the gap make money hitachi ltd hit spokesman said reuter 
earn	fisons plc fisn year end shr div making pre tax profit mln stg mln turnover mln mln tax mln mln finance charges mln mln minority interest mln mln extraordinary debit being closure and restructuring costs mln mln operating profit includes pharmaceutical mln mln scientific equipment mln mln horticulture mln mln note company said plans one for one capitalisation reuter 
interest	major swiss banks raise customer time deposit rates point three pct credit suisse 
interest	corrected major swiss banks raise customer time deposit rates point pct credit suisse 
money-fx	philippine planning chief urges peso devaluation the philippines must devalue the peso wants its exports remain competitive economic planning secretary solita monsod told reuters the peso dollar rate has undercut make our exports more competitive monsod said interview question about 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 currently about the dollar finance secretary jaime ongpin has said the government does not intend devalue the peso and wants flexible and able continue respond market conditions monsod said ongpin was looking the exchange rate from the point view finance the dollar rate goes higher our debt service terms pesos gets higher the financing very difficult she said but looking terms the economy she said she was not trying oppose official policy just saying keep competitive not want become uncompetitive because then are dead monsod said the ideal movement the peso dollar rate movement that will reflect differences inflation rates the philippines versus the other country arithmetic thing official figures show philippine inflation averaged pct calendar ongpin told reporters saturday was expected touch five pct this year said the government and the international monetary fund had set the peso dollar target rate the peso lost pct value slump the dollar when was floated reuter 
acq	clears cons gold purchase the trade department said would not refer consolidated goldfields plc cgld purchase american aggregates corp the monopolies commission cons gold said last month that its arc america corp unit had agreed buy the ohio based company for dlrs share cash mln dlrs deal recommended the aggregates board reuter 
crude	pemex signs mln dlr japan loan for pipeline mexican state oil firm petroleos mexicanos pemex signed for mln dlr untied loan from the export import bank japan finance its pacific petroleum project pemex japan representative tito ayal said further details the loan were immediately available ayala told oil seminar the project due for completion aimed improving distribution oil products the domestic market mainly along the pacific coast the project consists pipeline linking nueva teapa the gulf mexico with salina cruz the pacific coast and construction the second phase the salina cruz refinery the project also includes construction liquified petroleum gas lpg storage tanks santa cruz additional crude oil storage both ends the pipeline ammonia complex lazaro cardenas the pacific coast and expansion the infrastructure the port salina cruz ayala said pemex will buy mln dlrs worth foreign equipment and materials for the project said the new pipeline will enable japan load mexico maya crude oil salina cruz rather than the gulf mexico pemex will also have some lpg surplus available salina cruz that may help japan diversify its supply sources that product added reuter 
earn	stc plc stcl year end shr profit loss div making nil turnover billion stg billion pretax profit mln mln loss tax mln nil operating profit mln mln interest less investment income mln mln exceptional debit mln mln minorities mln mln extraordinary credit mln mln debit operating profit includes international computers mln mln communications systems mln mln components and distribution mln mln defence mln mln reuter 
earn	cra expects pay final dividend cents cra ltd craa said expected pay final dividend not less than cents share after july making cents for the year against the mining and smelting group earlier reported net earnings rose mln dlrs from mln against analysts forecasts yesterday mln mln cra said was deferring consideration dividend until later this year provide the benefit dividend imputation its shareholders after july dividends will tax free shareholders provided they come out earnings which the full pct company tax rate has been the company operates substituted tax year not the fiscal year ending june and result has incurred tax the pct rate earnings cra said statement consequently has funds available for distribution with dividend imputed but waiting see the imputation legislation before determining the final payout said despite the higher net earnings cra said was poor year for the minerals industry with the notable exception gold producers prices for major metals expressed real dollars declined the lowest levels about years said fluctuating exchange and interest rates added volatility and uncertainty while the revaluation the yen leading substantial restructuring japanese industry cra said world demand for metals growing slowly inventories have steadily declined with supply and demand better balance but overcapacity continues cra said turning contributions its earnings cra said bougainville copper ltd buva contributed mln dlrs while its share comalco ltd cmac net was mln net earnings from iron ore operations were mln dlrs against mln said lead zinc and silver mining and smelting operations incurred net loss mln dlrs against mln loss cra said coal activities resulted net profit mln dlrs against mln while salt raised its contribution mln from mln cra share earnings from the argyle diamond project amounted mln dlrs against nine mln cra said the main item its mln dlr extraordinary loss was mln writeoff unrealised foreign exchange losses borrowings required new accounting standard other extraordinary items were mln dlrs provided for closures and writedown assets and mln increase future tax provisions cra said cash flow continued high level being mln dlrs before capital expenditure against billion the strong cash flow coupled with the proceeds the rights issue and the use existing cash balances enabled group debt reduced nearly mln dlrs cra said held forward contracts year end buy mln dlrs hedge part its foreign debt this cost mln dlrs after tax included the net interest cost reuter 
trade	swiss capital exports rise january swiss capital exports rose billion francs january after billion december and year earlier billion the swiss national bank said new bond issues accounted for billion the total after december billion and credits mln after mln 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 china called the united states remove curbs its exports give favourable trading status and ease restrictions exports high technology but the embassy replied that chinese figures showing years trade deficits with the out the last are inaccurate and said peking itself would have persuade congress change laws which limit its exports the official international business newspaper today published china demands editorial coincide with the visit secretary state george shultz extremely important that the market reduce its restrictions chinese imports provide the needed facilities for them and businessmen from both sides help expand chinese exports the editorial said the should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system preference gsp despite easing curbs technology exports recent years control them still extremely strict and influences normal trade between the two countries added the paper also printed article china commercial counsellor its washington embassy chen shibiao who said that all kinds difficulties and restrictions were preventing bilateral trade fulfilling its full potential named them protectionist behaviour curbs technology transfer and out date trade legislation the paper also printed table showing that since bilateral trade began china has had deficit every year except and shows the and deficits billion and billion dlrs embassy official said the did not accept peking trade figures all mainly because they exclude goods shipped hong kong and then trans shipped while figures are based country origin said that china wants obtain gsp status will have lobby congress itself persaude amend several laws which currently prevent peking getting such status the trade act says that qualify for gsp china must member the general agreement tariffs and trade gatt for which applied july and not dominated controlled international communism the official said china was well aware the laws some which date the anti communist early but that there not sufficient political will the change them china has been the subject about dozen cases involving anti dumping the within the last two years which the side won said but for the first time china signed last week agreement which itself initiated voluntarily restrain exports least two categories steel goods which may lead the side withdraw the anti dumping case added another diplomat said willingness provide such voluntary export restraints would important issue bilateral trade issues and peking application gatt china has the potential disrupt world markets especially textiles other gatt countries will nervous about china this respect but there precedent for other centralled planned economies gatt the diplomat said poland czechoslovakia hungary and romania are members gatt but none has china massive market potential for imports its vast labour pool produce cheap exports speech today the northeast city dalian secretary state george shultz said his country welcomed china interest participating gatt the process chinese accession will not accomplished overnight the gatt rules were not designed for large economy the chinese type shultz said china can play important role actively joining gatt discussions seeking expand general trading opportunities and enhance market access for exports worldwide china can further develop its foreign trade system gain the maximum benefit from its gatt participation said the problems facing china trade and gatt membership are similar pricing system which many foreign businessmen regard arbitrary and not related actual costs especially for exports and facto dual currency system memorandum backing its application presented gatt last month china said was gradually reforming its economic system and replacing mandatory instruction with guidance planning and economic levers the diplomat said that join gatt china had much reuter 
crude	mobil plan open peking office china daily says mobil corp mob the plans open office peking develop oil exploration opportunities china the china daily said quoted mobil president richard tucker currently peking saying optimistic about investment prospects china and that peking will continue encourage foreign private businesses invest here said mobil bought mln dlrs crude oil and oil products from china and sold lubricant and fertiliser but gave more details reuter 
acq	klm take pct stake air klm royal dutch airlines klm said agreed take pct stake air ltd subsidiary british and commonwealth shipping plc bcom transaction worth around two mln stg klm spokesman said klm already cooperated closely with air which runs flights week amsterdam schipol airport from nine cities british and commonwealth shipping said last week held preliminary talks about klm minority stake air but gave further details klm said hoped the move would attract more british feeder traffic amsterdam airport reuter 
acq	ultramar sells marketing units for mln stg ultramar plc umar said had reached agreement principle sell its wholly owned marketing companies kuwait petroleum corp for around mln stg ultramar marketing units include ultramar golden eagle ltd which made profit around mln stg before financing and group administration charges small loss was recorded for the first nine months the sale due take place april with the proceeds intended reduce group debt the short term but ultramar said the funds would ultimately used for further development its core businesses the and north america reuter 
acq	woolworth underwoods fail agree bid underwoods plc said had not been possible agree terms bid made woolworth holdings plc wluk during talks the two companies had been holding exploratory discussions spokesman for either company was immediately available say why terms could not agreed nor whether the possibility bid was now being abandoned last week underwoods shares rose ahead any announcement the talks the announcement today brought them back down from last night close woolworth was unchanged reuter 
crude	mobil plans open office peking mobil oil corp plans open office peking develop oil exploration opportunities china the china daily said quoted mobil president richard tucker currently peking saying optimistic about investment prospects china and that peking will continue encourage foreign private businesses invest here said mobil bought mln dlrs crude oil and oil products from china and sold lubricant and fertiliser but gave more details reuter 
earn	unilever plc and combined pre tax profit billion stg mln 
crude	opec within output ceiling subroto says opec remains within its agreed output ceiling mln barrels day and had expected current fluctuations the spot market one two dlrs indonesian energy minister subroto said told reporters after meeting with president suharto that present weakness the spot oil market was the result warmer weather the and europe which reduced demand for oil prices had also been forced down because refineries were using old stock said denied that opec was exceeding its agreed production ceiling asked what opec output level was now replied below mln barrels per day did not elaborate said there appeared have been some attempts manipulate the market but all opec members stick the cartel december pricing agreement would get through present price difficulties predicted that prices would recover again the third and fourth quarters also reiterated that there was need for emergency opec meeting said opec had expected see some fluctuations the spot price hope the weak price will overcome and predict the price will better the third and fourth quarters refiners said appeared have used old stock deliberately cause slack demand the market and the price fall but opec would get through this period members stuck together reuter 
earn	unilever plc and qtr dec london march unilever plc share making for full year unilever share guilders guilders making guilders guilders unilever plc final div making unilever final div guilders making guilders guilders combined pre tax profit mln stg same making billion stg mln the two companies proposed five for one share split combined fourth quarter pre tax profit billion guilders billion making billion guilders billion operating profit mln stg mln making billion stg mln tax mln stg mln making mln mln tax adjustments mln stg credit nil making mln stg credit three mln debit attributable profit mln stg mln making mln mln full year turnover billion stg billion reuter 
acq	hotels soars takeover speculation the price hongkong and shanghai hotels ltd shlh stock soared speculation takeover battle between major shareholders the kadoorie family and the evergo industrial enterprise ltd evgh group stock brokers said they noted heavy buying hotel shares after announcement evergo china entertainment and land investment ltd unit that bought about pct hotels from the firm deputy chairman david liang for billion dlrs the stock rose dlrs dlrs today thomas lau evergo executive director declined comment whether the group seeking further stake hotels but told reuters the group will hold the pct stake bought from liang long term investment said evergo was attracted the underlying strength hotels analysts said evergo may looking for possible redevelopment the peninsula hotel one asia best known hotels and another site hong kong island both are owned hotels lai sun garment ltd yesterday said acquired pct stake hotels from liang for mln dlrs lau denied any link between china entertainment and lai sun their acquisitions the hotels stake purely coincidence said but analysts were not certain saying that the evergo group which has reputation corporate raider may team with lai sun garment for takeover lau also denied any contact with the kadoorie family which analysts estimate has more than pct hotels michael kadoorie chairman hotels lau said two representatives evergo will nominated the hotels board source close the kadoorie family said the family has not considered any countermoves far analysts said would difficult for evergo and the kadoorie family cooperate because different management styles evergo may want split the hotel management and property developments hotels but that strategy may not fit the conservative kadoorie family said analyst who asked not named another analyst noted the price hotels had been distorted the takeover talks because its net asset value only worth about dlrs share the offers evergo and lai sun were for dlrs share though that well below the current trading price trading was suspended today shares lai sun evergo china entertainment and the group associate chinese estates ltd chinese estates lost cents dlrs yesterday china entertainment five dlrs and evergo one cents lai sun gained cents dlrs reuter 
acq	bryson pays mln dlrs for cenergy corp stake bryson oil and gas plc said paid cash consideration around mln dlrs for about pct cenergy corp oil and gas exploration and production company bryson said its board has been considering number possible investments expand the company interests and believes the opportunity acquire investment cenergy provides suitable extension its existing interests cenergy reported net loss mln dlrs the nine months september while total stockholders equity the same date was mln dlrs reuter 
earn	ashton tate tate qtr net shr cts cts net mln revs mln mln avg shrs mln mln year shr dlrs cts net mln mln revs mln mln avg shrs mln mln note share adjusted for january two for one split reuter 
ship	neither side optimistic rotterdam port issues employers and the port union fnv are meet again this afternoon attempt settlement the six week old dispute rotterdam general cargo sector but neither side optimistic spokesmen for both sides told reuters little progress was made last night three hours talks with both sides largely reiterating their positions there still very large gap between the employers and the fnv and can say that expect reach any agreement but least are still talking union spokesman said employers organization chairman jacques schoufour accused the fnv intransigence refusing alter its stance all over the past two months the fnv not serious about our discussions and really not optimistic about changing its point view all find this afternoon that the fnv still refuses accept the necessary redundancies the general cargo sector then will break off the talks and the redundancies may begin later this month schoufour said the series strikes which employers say has cost them more than seven mln guilders lost import business the past six weeks began january protest plans for redundancies from the sector workforce starting with this year late last month social affairs minister louw graaf said unless the dispute was settled yesterday would withdraw the sector mln guilder annual labour subsidy both sides wrote the minister yesterday setting out their cases but schoufour said did not expect hear from him before wednesday the earliest reuter 
earn	unilever improves most sectors during the unilever plc and group saw improved performance almost all sectors during the anglo dutch group said its results statement very good progress was made last year while the recent acquisition chesebrough pond inc cbm was significant addition which will greatly benefit the group the years come earlier unilever reported combined fourth quarter pre tax profit mln stg level with the year earlier period making billion stg compared with mln for the full year unilever said plans change its depreciation policy the more conventional practice depreciating assets individually rather than depreciating fixed assets average rates the new method expected lead reduction the accumulated provision for depreciation and thereby increase the net book value tangible asssets about mln stg january unilever plc shares are since yesterday buoyant response the results and share split proposal though profits were not ahead market forecasts dealers added reuter 
earn	burlington coat factory warehouse corp bcf net jan end shr dlrs dlrs net mln mln revs mln mln reuter 
acq	greenwood resources grrl sells company stake greenwood resources inc said has sold its common share majority holding new london oil ltd london affiliate guinness peat group plc london and affiliate sidro belgium for total dlrs cash the company said will apply the proceeds the sale support its line credit and part proposed debt restructuring with colorado national bancshares colc and greenwood shareholders said will retain seat the new london board reuter 
earn	woolworth qtr shr dlrs dlrs 
acq	heinz interested buying guinness brewing heinz hnz chairman tony reilly would interested buying guinness plc guin brewery division were for sale spokesman said the spokesman reacting irish and british press reports said continues interested were the group offer the brewery side guinness for sale but has not put together consortium nor has been buying shares was quoted the irish magazine business and finance saying would interested came the market and that had the support two international banks decided such purchase might worthwhile the magazine article suggested that brewing profits were calculated the region mln punts the asking price would not higher than mln punts multiple ten times earnings would the top whack for the brewing division the current guinness situation said this would mean expensive exercise right the edge but not impossible added the deal would mean buying the dublin london nigerian and malaysian breweries because could only sold integral unit was going sold all reilly said reuter 
earn	equatorial communications equa have losses equatorial communications said expects report losses about mln dlrs for the fourth quarter and mln dlrs for the full year revenues about mln dlrs for the quarter and mln dlrs for the year equatorial said the losses will include charge about mln dlrs from costs associated with the restructuring its business including adjustments reflect the market value transponders owned and leased equatorial and other reserves for inventory receivables and excess facilities equatorial said the fourth quarter operating results will also include restructuring costs about dlrs addition the mln dlr charge equitorial also said that march one operating technical default under its lease transponders the galaxy iii satellite due its inabiliuty maintain agreed upon financial ratios said talks with the lessors attempt restructure lease obligations further equitorial said default two other oblitations connection with the purchase lease transponders result cross default provisions equatorial said has signed memorandum understanding for contel corp ctc purchase mln dlrs equatorial master earth stations micro earth stations and associated equipment and loan equatorial six mln dlrs over six month period for repayment starting december the company said conteol under the agreement would assume portion equatorial rights and obligations under the galaxy iii transponder lease with burnham leasing the occurrence certain events equatorial said would grant contel option buy about common shares dlrs each equatorial said its understandings with contel are subject equatorial ability restructure significant portion its obligations and obtain concessions from lenders and lessors particular under its galaxy iii transponder lease said hopes finalize contel agreement april equatorial earned dlrs after dlr gain from early debt retirement revenues mln dlrs for the first nine months the company lost dlrs revenues mln dlrs compared with dlr profit after the early retirement gain revenues mln dlrs reuter 
earn	transamerica have australian sale gain transamerica corp said will have after tax gain about mln dlrs the sale its occidental life insurance australia ltd affiliate pratt and financial services pty ltd melbourne for mln australian dlrs the sale was announced earlier today australia proceeds will used enhance the growth north american operations its transamerica occidental life subsidiary the company said reuter 
acq	viacom international inc gets another new national amusements bid 
earn	woolworth qtr jan net shr dlrs dlrs net mln mln sales billion billion avg shrs mln mln year shr dlrs dlrs net mln mln sales billion billion avg shrs mln mln note share data restated reflect two for one stock split may reuter 
trade	asks japan end agriculture import controls the wants japan eliminate import controls agricultural products within three years visiting under secretary state for economic affairs allen wallis told eishiro saito chairman the federation economic organisations keidanren spokesman for keidanren said the spokesman quoted wallis saying drastic measures would needed stave off protectionist legislation congress wallis who attending sub cabinet level bilateral trade meeting made the remark yesterday talks with saito wallis was quoted saying the reagan administration wants japanese cooperation the white house can ensure any trade bill moderate one rather than containing retaliatory measures antagonising any particular country was also quoted saying the would pleased were japan halve restrictions agricultural imports within five years the country cannot cope with abolition within three the spokesman said japan currently restricts imports agricultural products ban rice imports triggered recent complaints about japan agricultural policy reuter 
earn	firstcorp fcr sees gain condemnation firstcorp inc said weill report after tax gain dlrs cts per share primary and cts fully diluted from the proposed condemnation and acquisition parking deck operates wake county the company said reinvested proceeds similar property within months the gain the sale would deferred for tax purposes reuter 
earn	national sea products ltd qtr net oper shr cts cts oper net revs mln mln year oper shr dlrs cts oper net revs mln mln note qtr excludes extraordinary gain dlrs five cts share versus extraordinary loss dlrs shr nil qtr note continued year excludes extraordinary gain dlrs cts share versus extraordinary gain dlrs cts share prior year reuter 
acq	national amusements again ups viacom via bid viacom international inc said national amusements inc has again raised the value its offer for viacom publicly held stock the company said the special committee its board plans meet later today consider this offer and the one submitted march one mcv holdings inc spokeswoman was unable say the committee met planned yesterday viacom said national amusements arsenal holdings inc subsidiary has raised the amount cash offering for each viacom share cts dlrs while the value the fraction share exchangeable arsenal holdings preferred included was raised cts dlrs national amusements already owns pct viacom stock reuter 
earn	national fsi inc nfsi qtr loss shr loss six cts profit cts net loss profit revs year shr loss cts profit cts net loss profit revs mln mln note year figures pro forma for purchase accounting adjustments resulting from march reeacquisition company its original shareholders before august initial public offering reuter 
earn	precambrian shield resources ltd year loss shr loss dlrs profit cts net loss profit revs mln mln note shr and net include dlr writedown operations uneconomic coal operations and other mineral properties reuter 
earn	grease monkey holding corp gmhc year nov shr nil nil net revs reuter 
earn	acceptance insurance holdings inc acpt year oper shr profit dlrs loss dlrs oper net profit loss revs mln mln avg shrs note net excludes realized investment gains dlrs dlrs net excludes dlr tax credit reuter 
earn	minstar inc mnst qtr net oper shr loss cts loss cts oper net loss loss revs mln mln avg shrs mln mln year oper shr loss eight cts profit cts oper net loss profit revs mln mln avg shrs mln mln note operating net loss excludes income from discontinued operations equal cts the quarter and cts the year compared with dlrs the quarter and dlrs the respective periods operating net loss also excludes extraordinary charges cts the quarter and cts the year operating net profit excludes extraordinary gain cts reuter 
earn	mark resources inc year loss shr not given loss mln revs mln note prior year results not given results include accounts pct owned precambrian shield resources ltd acquired november reuter 
earn	transform logic toog revises results downward transform logic corp said has revised downward its previously reported fourth quarter and year ended october results reflect compensation expense for employee stock options the company said resolution this disagreement with its auditors came result securities and exchange commission involvement the company will amend its option granting procedure conform the sec decision which will eliminate future charges added transform said its fourth quarter profit was revised dlrs two cts share from the previously reported dlrs which left the company with fiscal loss dlrs two cts share instead the reported dlrs profit reuter 
earn	american stores asc sees lower year net american stores said expects report earnings per share dlrs per share sales slightly over billion dlrs for the year ended january the supermarket chain earned dlrs per share sales billion dlrs last year the company did not elaborate reuter 
earn	kasler corp kasl qtr jan net shr profit three cts loss seven cts net profit loss revs mln mln reuter 
earn	unilever has improved margins volumes unilever plc and group reported improvements margins and underlying sales volume growth five pct after stripping out the effects falling prices disposals and currency movements unilever plc chairman michael angus said told reporters that volumes north america increased some pct while european consumer goods rose about pct after being flat for some years much the disposal strategy aimed concentrating activities core businesses had now been completed noted but the process acquisitions would with strategic acquisitions taking place from time time said the company earlier reported pct rise pre tax profits for billion stg from mln previously guilder terms however profits the pre tax level dropped three pct billion from billion angus said the recent purchase chesebrough pond inc cbm for dlrs share was unlikely bring any earnings dilution however would not add much profits with much the company operating profits paying for the acquisition costs finance director niall fitzgerald added that while gearing debt equity plus debt rose about pct end from pct last year this was expected drop back about pct end the same divergence was made full year dividend with unilever rising pct guilders and unilever plc increasing pct approximately line with the change attributable profit angus said the prospectus for the sale parts chesebrough was due published shortly however said that there was target date for completing the process also declined say what sort sum unilever hoped realise from the operation beyond noting that chesebrough had paid around billion dlrs for stauffer chemical which operates outside unilever core activities the organic growth from the lipton foods business considerable expansion the household products business and margarine had been behind the overall sales increase however noted that the household products business had turned planned loss with fourth quarter performance better than expected despite the anticipated heavy launch costs its surf detergents reuter 
acq	sara lee sle buy pct dim sara lee corp said agreed buy pct interest paris based dim subsidiary bic cost about mln dlrs dim hosiery manufacturer had sales about mln dlrs the investment includes the purchase newly issued dim shares valued about mln dlrs and loan about mln dlrs said the loan convertible into additional dim shares noted the proposed agreement subject approval the french government said reuter 
trade	china calls for better trade deal with china called the united states remove curbs its exports give favourable trading status and ease restrictions exports high technology but the embassy replied that chinese figures showing years trade deficits with the out the last are inaccurate and said peking itself would have persuade congress change laws which limit its exports the official international business newspaper today published china demands editorial coincide with the visit secretary state george shultz extremely important that the market reduce its restrictions chinese imports provide the needed facilities for them and businessmen from both sides help expand chinese exports the editorial said the should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system preference gsp despite easing curbs technology exports recent years control them still extremely strict and influences normal trade between the two countries added the paper also printed article china commercial counsellor its washington embassy chen shibiao who said that all kinds difficulties and restrictions were preventing bilateral trade fulfilling its full potential named them protectionist behaviour curbs technology transfer and out date trade legislation reuter 
earn	precambrian shield takes mln dlr writedown precambrian shield resources ltd earlier reporting large loss against year ago profit said the loss was mainly due dlr writedown its operations uneconomic coal and other mineral properties precambrian which pct owned mark resources inc said took the writedown accordance with new canadian insititute chartered accountants guidelines for full cost method accounting oil and gas companies precambrian earlier reported loss mln dlrs compared profit mln dlrs the prior year reuter 
acq	scott hospitality acquires capital food scott hospitality inc said acquired all issued shares capital food services ltd ottawa terms were not disclosed scott said capital food had sales more than mln dlrs and will continue operate under its present name with existing management capital food provides food services several ottawa institutions the company said reuter 
acq	video display vide sell cable unit video display corfp said has reached tentiative agreement sell its existing cable television business for undisclosed terms and expects report gain the transaction the buyer was not named the company said will redeploy its service assets into manufacturing and distribution said the operations being sold accounted for about five pct revenues for the year ended february and lost money reuter 
earn	intek diversified corp idcc qtr net shr three cts three cts net revs year shr cts cts net revs mln reuter 
acq	community bank cbsi make acquisition community bank system inc said has entered into definitive agreement acquire nichols community bank for dlrs common stock said subject approval nichols shareholders and regulatory authorities the transaction expected completed later this year reuter 
earn	pharmacia phab year sales billion crowns billion profit after financial items mln crowns mln the results include once off writedown mln crowns for intangible assets mainly the know how paid for the takeover number high tech companies the group pharmacia said earnings per share after real tax including the writedown crowns crowns earnings per share after real tax not including the writedown crowns earnings per american depository receipt adr according accounting principles after real tax including the writedown crowns crowns earnings per adr according accounting principles after real tax without the writedown crowns one adr represents pct one free share pharmacia the board proposed dividend crowns reuter 
earn	pharmacia forecasts higher earnings pharmacia phab forecast earnings after financial items one billion crowns mln last year condition that exchange rates remained their present parities sales would such circumstances six billion crowns from billion said weakening dollar was mainly responsible for five pct negative impact sales during which the company blamed currency movements last year results were also badly hit once off writedown mln crowns for intangible assets the company said mainly this represented the premium the group had paid for the know how various high tech firms had taken over the accounts also showed financial deficit billion crowns deficit mln which was covered partly drawing down company liquidity mln one billion and partly increasing borrowing billion mln pharmacia said the financial deficit was caused having used more funds than generated group operations mainly because the billion paid cash for shares lkb produkter and the assets intermedics intraocular inc reuter 
ship	mclean industries mii unit transers service mclean industries inc said its shipping subsidiary united states lines inc reached agreement principle transfer its south american service american transport lines inc subsidiary crowley maritime corp under the terms the agreement united states lines will lease five vessels american transport for months with option extend the period years the company said return lines will receive fixed payment and percentage revenues for least three years and possibly long american transport utilizes its vessels and conducts trade south america the company said the companies will consummate the transactions soon the required approvals are obtained mclean said reuter 
earn	first federal savings ffkz year net shr cts one dlr net assets mln mln deposits mln mln loans mln mln qtly div six cts six cts prior qtr pay april record march note net includes charges from accounting changes from one time expenses associated with proxy contest and increase loan reserves first federal savings and loan association kalamazoo full name company reuter 
earn	toll brothers inc tol qtr jan net shr cts cts net revs mln mln note all amts reflect for stock split company common form pct stock dividend paid feb reuter 
earn	pillsbury psy votes quarterly dividend qtly div cts cts prior qtr pay may record may reuter 
earn	berkshire gas bgas pays regular qtlry div qtrly div cts cts pay april record march reuter 
earn	charming shoppes inc chrs qtr jan net shr cts cts net mln mln revs mln mln year shr cts cts net mln mln revs mln mln reuter 
earn	pansophic systems pns splits stock for pansophic systems inc said will split its stock two for one effective april two shareholders record march also said will pay six cts per share dividend the pre split shares regular quarterly dividend april two shareholders record march reuter 
acq	calmar clmi seeks acquired kebo calmar inc said keboo sweden which now owns about pct calmark has approved the acquisition remaining calmar shares dlrs cash the request the calmar board calmar said special meeting its board will held march nine form special committee directors not affiliated with kebo evaluate the transaction kebo turn pct owned investment beijar sweden reuter 
acq	italy bnl negotiating purchase german bank italy state owned banca nazionale del lavoro bnl said negotiating buy west german bank part its foreign expansion policy bnl president nerio nesi told news conference the italian bank was currently involved talks but declined name the german institution said the takeover move could seen bnl reply deutsche bank dbkg which entered the italian market december with the purchase bankamerica bacn subsidiary banca america italia nesi said bnl had also approved mln dlr credit line the soviet union aimed enabling soviet companies pay for italian imports gave further details bnl officials said the group had also decided increase its activities the soviet union opening representative office moscow this month through its subsidiary sogecred which specialises italian soviet trade reuter 
interest	fed expected add temporary reserves the federal reserve expected enter the government securities market add temporary reserves economists said they expect supply the reserves indirectly arranging two billion dlrs customer repurchase agreements the fed may add the reserves directly instead via system repurchases federal funds which averaged pct yesterday opened pct and stayed there early trading analysts said the rate under upward pressure partly from settlement billion dlrs five year treasury notes reuter 
earn	lsb industries inc lsb qtr net shr profit five cts loss dlrs net profit loss mln revs mln mln avg shrs mths shr profit cts loss dlrs net profit loss mln revs mln mln avg shrs note primary earnings per share are based the weighted average number common and dilutive common equivalent shares outstanding during each period after accounting for preferred stock dividends the qtr and year includes provision for restructuring costs related the sale its energy business and parts its bearing business the qtr and year includes charges 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 and respectively year net includes operations friedrich climate master inc which the company acquired august for the full period while the comparable period for includes only operations from august dec third qtr includes extraodinary tax gain from early extinquishment certain drafts payable reuter 
earn	gulf resources and chemical corp gre qtr oper shr profit cts loss cts oper net profit revs mln mln year oper shr profit cts loss cts oper net profit loss revs mln mln notes operating net excludes loss dlrs cts share loss dlrs dlrs share quarter and loss dlrs cts share profit dlrs dlrs share from discontinued operations loss from discontinued operations includes mln dlrs charge equal cts share provide for additional liabilities resulting from the closure lead zinc and silver mining smelting and refining business year operating net includes pre tax gain mln dlrs equal cts share from pension plan termination and gain mln dlrs cts share from reduction deferred taxes effective jan company changed oil and gas accounting successful efforts from full cost increasing year net mln dlrs cts share and increasing loss mln dlrs cts share the cumulative effect the change was decrease retained earnings dec mln dlrs reuter 
earn	pansophic systems inc pns qtr jan net shr cts cts net revs mln mln nine mths shr dlrs dlrs net mln mln revs mln mln reuter 
money-fx	former treasury official urges currency reforms former treasury official fred bergsten said new exchange rate system needed replace the fixed and flexible exchange rate systems which said had not worked prefer move target zones which the major countries would determine ranges pct within which they would pledge hold their exchange rates direct intervention and necessary changes monetary and other policies bergsten now the director the institute for international economics said statement house banking subcommittee the substantial correction the exchange rate that has occurred since early enormously welcome and should produce sizeable reduction the trade deficit this year and next but the imbalance will not fall much below billion dlrs present policies much more needed said reuter 
earn	knutson mortgage corp knmc sets quarterly qtly div cts cts prior pay april record march reuter 
earn	ford motor canada ltd qtr shr dlrs cts 
earn	ausimont compo aus qtr net shr cts cts net mln sales mln mln avg shrs mln mln year shr dlrs dlrs net mln mln sales mln mln avg shrs mln mln note translated italian lire dollar reuter 
acq	norton nrt sell south african operations norton said has agreed sell its remaining south african business norton pty ltd global mining and industrial corp south africa for undisclosed terms the company said the unit accounts for less than two pct norton revenues and being sold because growing societal pressures the united states and the unsettled situation south africa had required disproportionate amount management tiome oversee norton said the unit profitable norton said will provide the south afrcian unit with future technical support and products makde under that agreement will continue marketed under the norton trademark reuter 
earn	home federal the rockies hrok qtr loss shr loss dlrs profit cts net loss profit year shr loss dlrs profit cts net loss profit note home federal savings and loan association the rockies net includes tax credits dlrs quarter and dlrs year net includes pretax loan loss provisions dlrs dlrs quarter and dlrs dlrs year reuter 
acq	saatchi and saatchi buys cleveland consulting advertising agents saatchi and saatchi plc sachy said was buying cleveland consulting associates inc for initial consideration mln dlrs additional payments may made annually through the year ending march bring the total consideration pct cleveland average post tax profits the last two years the period the purchase cleveland further step saatchi and saatchi fast growing consulting industry the company said said its consulting operations now provide platform for major future expansion for the months ended march cleveland had dlrs pretax profits and forecasts one mln for the saatchi and saatchi annual meeting today the company reported particularly strong start the current year with profits sharply higher than the same period last year saatchi and saatchi shares rose one pence the cleveland announcement after yesterday close reuter 
acq	unilever chesebrough offers sell bass chesebrough pond inc recently acquired unit unilever said offering sell its bass shoe division result ongoing evaluation the long term direction its businesses the diversified maker health and beauty aids said acquired falmouth maine based bass and when the company reported annual sales mln dlrs bass known for its high quality casual shoes chesebrough said bass sales exceeded mln dlrs reuter 
earn	continental gic sees net from tax law continental corp said the fresh start provision the tax reform act may add earnings per share the insurance holding company had net earnings mln dlrs per share john loynes continental chief financial officer said the fresh start provision allowed the company discount opening tax reserves january which released deferred taxes into earnings loynes said the provision potential benefit would decline gradually over the next four years during which time continental will pay mln mln dlrs more taxes loynes added however the higher taxes are not expecetd have significant impact earnings reuter 
earn	ford motor canada ltd qtr net shr dlrs cts net mln mln revs billion billion year shr dlrs dlrs net mln mln revs billion billion note pct owned ford motor reuter 
earn	royal bank canada qtr shr cts dlrs 
earn	anitec image technology corp antc qtr net shr cts cts net sales mln mln avg shrs mln mln half shr cts cts net sales mln mln avg shrs mln mln note share adjusted for three for two october stock split reuter 
earn	dasa corp dasa year net shr profit three cts loss cts net profit loss revs mln reuter 
acq	group trims material sciences msc stake investor group led central national gottesman inc new york investment firm and its executive vice president edgar wachenheim said they cut their stake material sciences corp less than five pct filing with the securities and exchange commission the group said sold material sciences common shares between feb and prices ranging from dlrs share leaving with shares pct long the group stake remains below five pct not required disclose further dealings material sciences common stock reuter 
interest	fed sets billion dlr customer repurchase fed says 
earn	adc telecommunications inc adct qtr net periods ended jan shr cts cts net sales mln mln backlog mln mln reuter 
acq	tylan corp tyln sell furnace product line tylan corp aid has retained the investment banking firm kahn and harris sell its furnace product line the company said has already been contacted several potential buyers tylan furnace product shipments the represented mln dlrs the company total net sales mln dlrs reuter 
earn	royal bank canada qtr jan net shr basic cts dlrs shr diluted cts dlrs net avg shrs mln mln loans billion billion deposits billion billion assets billion billion reuter 
interest	fed adds reserves via customer repurchases the federal reserve entered the government securities market arrange billion dlrs customer repurchase agreements fed spokesman said dealers said federal funds were trading pct when the fed began its temporary and indirect supply reserves the banking system reuter 
earn	supradur cos inc supd year net oper shr dlrs cts oper net sales mln mln note net excludes discontinued operations gain dlrs loss dlrs reuter 
earn	wallace computer services inc wcs qtr net shr cts cts net sales mln mln six mths shr dlrs dlrs net sales mln mln note periods end january and respectively reuter 
earn	american vanguard corp amgd year net shr cts cts net sales mln mln note qtr data not available reuter 
earn	north american biologicals inc nbio qtr oper shr one three cts oper net revs mln avg shrs mln mln year oper shr six cts cts oper net revs mln mln avg shrs mln note net excludes tax credits dlrs dlrs quarter and dlrs dlrs year reuter 
earn	omnicom group inc omcm qtr net shr profit cts profit cts net profit profit revs mln mln mths shr loss cts profit dlrs net loss profit revs mln mln note qtr ended the company recognized expenses for restructing the combined operations bbdo doyle dane bernbach and needham harper worldwide august before tax gains these relate primarily the conosolidation and elimination duplicate facilities and staff for the year the provisions for mergers and restructuring expenses brought non recurring expenses before tax gains which represented merger costs and related restructuring the combine operations reuter 
earn	correction ashton tate item torrance calif item ashton tate tate qtr net please read quarter average shares mln not mln reuter 
earn	royal bank canada sees higher loan losses royal bank canada said estimates loan losses one billion dlrs mln dlr increase over last year royal bank said set its provisions given the continued debt servicing problems the north american energy industry and the uncertain outlook for energy prices and also continued add its general provisions for loans troubled borrower countries the bank loan loss provision for the first quarter ended january rose mln dlrs from mln dlrs the year ago quarter the bank said non accrual loans net provisions for loan losses totalled billion dlrs january from billion dlrs year ago reporting lower first quarter earnings chairman allan taylor said problems with credit quality particularly loans associated with the energy sector continue have substantial adverse effect the bank earnings taylor said profitability the bank international operations remains weak reflecting resource related difficulties private and public sector borrowers and unsatisfactory results from capital market activities taylor said would premature speculate the outcome debt resturcturing negotiations with brazil their potential impact the royal bank the bank earlier reported first quarter profit fell mln dlrs from mln dlrs year ago reuter 
acq	pantera pant and pizza pza agree merge pantera corp said agreed principle acquire pizza inn inc cash and stock transaction under terms the proposed transaction each pizza inn share can exchanged for either three dlrs cash plus the lesser shares pantera common stock dlrs market value pantera stock four dlrs cash plus unit consisting one share pantera stock and non transferrable right receive share pantera stock under certain conditions said completion the transaction subject arrangement financing negotiation definitive agreement and various regulatory approvals said pantera said pizza inn largest shareholder spillman previously granted pantera option buy more than one mln shares pizza inn common stock owned him pantera also said retained drexel burnham lambert inc act its financial advisor connection with the merger pizza inn has retained dean witter reynolds inc act its financial advisor pantera said yesterday pantera stock closed dlrs nasdaq while pizza inn stock was quoted dlrs when the amex halted trading pending the announcement the proposed merger from its dallas headquarters pizza inn said completion the transaction subject certain conditions including that the price pantera stock average not less than seven dlrs during the trading days before the merger under the agreement pizza inn said will still permitted complete leveraged buyout agreement with pizza inn acquiring corp which has been approved its shareholders but subject otaining financing more 
earn	distributed logic corp dlog qtr loss qtr ended jan shr loss nine cts profit cts net loss profit revs reuter 
acq	lifetime lft buy shares nippon lace lifetime corp said agreed buy five mln shares pct nippon lace ltd for dlrs share mln dlrs said plans enter the health care business japan addition said koba electronics ltd affiliate lifetime will buy four mln unissued shares pct stake nippon for mln dlrs five dlrs share the company said ohta shoji chief executive officer toho mutual life insurance owns the majority koba electronics shares toho mutual life also the largest shareholder nippon lace the company said lifetime also said the private bank and trust zurich behalf lifetime director and shareholder terence ramsden intends subscribe for two mln shares nippon lace the same price paid lifetime reuter 
earn	intermedics inc itm qtr net oper shr cts cts oper net revs mln mln avg shrs mln mln note prior qtr excludes loss five cts per share for discontinued operations for the sale subsidiaries intermedics intraocular inc electronics inc and intermedics infusaid inc excludes qtr operating loss carryforwards qtr prior reuter 
acq	beneficial corp sell insurance unit removing company from insurance business 
earn	ford canada cuts annual dividend six dlrs six dlrs cash share 
earn	paine webber residential realty inc pwm div qtrly cts cts pay march record march note prior qtr for two months operation october and november and represents parital dividend reuter 
earn	omnicom group omcm sets regular payout qtlry div cts cts pay april record march reuter 
earn	knutson mortgage knmc sees strong second qtr knutson mortgage corp said expects strong earnings performance for its initial fiscal second quarter earnings ending march since going public september albert holderson knutson chairman said expects earnings about cts per share for the quarter result strong mortgage business during the quarter knutson earlier declared quarterly dividend cts share versus cts share prior payable april shareholders record march reuter 
earn	intermedics inc itm qtr feb one net oper shr cts cts oper net revs mln mln note current qtr oper net excludes operating loss carryforward cts per share qtr oper net excludes loss carryforward dlrs one per share and loss from discontinued operations dlrs reuter 
earn	carme inc came qtr jan net shr nine cts one net sales six mths shr cts five cts net sales reuter 
earn	willcox and gibbs inc qtr net shr cts cts net mln mln revs mln mln year shr dlrs dlrs net mln mln revs mln mln note net includes extraordinary gain mln dlrs cts per share qtr and mln dlrs for the year reuter 
earn	omnicom group inc omcm qtr net shr profit cts profit cts net profit profit mln revs mln mln qtly div cts cts avg shrs mln mln year shr loss cts profit dlrs net loss profit mln revs mln mln avg shrs mln mln note qtly div payable april six holders record march qtr and year net includes charge mln dlrs and mln dlrs respectively for corporate restructuring reuter 
earn	ford motor canada ltd cuts annual div annual div six dlrs dlrs prior pay march record march note payout includes two dlrs share extra dividend payout includes four dlrs share extra dividend reuter 
earn	united healthcare corp unih qtr net shr cts cts net revs mln mln avg shrs year shr cts cts net revs mln mln avg shrs note net income includes extraordinary profit from recognition tax loss carryforward dlrs six cts share year and dlrs seven cts share both periods reuter 
earn	raytech corp ray qtr dec net shr profit cts loss dlrs net profit loss revs mln mln year shr profit dlrs loss dlrs net profit loss mln revs mln mln note qtr and includes loss carryfoward dlrs and dlrs respectively reuter 
earn	datamag inc dmag qtr dec loss net loss profit sales note per share data not available company went public january reuter 
earn	royal bank sees improved results royal bank canada reporting pct drop first quarter earnings said expects report improved results future earnings periods healthy consumer credit growth record fee based income highly profitable securities and foreign exchange trading and solid capital position combined with the restraint non interest expenses should lead improved results the periods ahead chairman allan taylor said statement the bank earlier reported profit for the first quarter ended january fell mln dlrs from mln dlrs year ago taylor said loans the energy sector continue substantially hurt earnings while profitability the bank international operations remains weak reflecting resource related difficulties private and public sector borrowers and unsatisfactory results from capital market activities the bank said earnings from domestic operations rose mln dlrs the first quarter from mln dlrs year ago while earnings from international operations plunged 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 well significant loss disposal its affiliate trinidad and tobago other income rose mln dlrs from mln dlrs last year the rise was due 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 two billion dlr increase total assets billion dlrs was due mainly continued growth consumer lending particularly residential mortgages reuter 
trade	belgian says would react textile bill belgian foreign trade minister herman croo said congress passed legislation curbing world textile imports the only way the european community could react was retaliate croo said news conference you limit textile imports you will orient textiles europe and that said would trigger taxes goods congress passed textile bill two years ago but was vetoed president reagan grounds that curbing imports protect the domestic textile industry would trigger retaliation trading partners similar bill has been introducted this year congress with bigger democratic majority and with president weakened the iran scandal croo here for talks with administration officials and congressmen said textile bill passed the only way could react would retaliation and would cause more retaliation which not good way deal with problems said textile bill was enacted will impose taxes lot american products said would stupid have avoid that said congressmen seem upset mosty with japan because its massive trade suprlus with the united states and not with nations but nations will hurt the diverted shipments asian textiles croo also criticized the way officials try solve trade issues saying each time come contact conflict contact the clouts are coming fom the west said then crisis atmosphere with officials cross the atlantic and dramatized with headlines this not the way work serious way between two big powers croo said reuter 
earn	kay corp kay qtr net oper shr cts dlrs oper net revs mln mln year oper shr dlrs dlrs oper net revs mln mln note oper net excludes results kay jewelers inc former subsidiary dec company distributed remaining pct interest subsidiary kay corp holders amts restated connection with company distribution investment kay jewelers inc qtr and oper net excludes dlrs dlrs per share and dlrs dlrs per share respectively for equity net income spun off unit qtr and oper net excludes dlrs dlrs per share and dlrs dlrs per share respectively for equity net earnings spun off unit oper net also excludes cts per share for adoption new pension accounting rules and ine cts per share for gain from assets sales reuter 
trade	rostenkowski says will oppose protectionist trade bill house 
earn	pantasote inc pnt qtr loss oper shr loss four cts loss cts oper net loss loss sales mln mln year oper shr profit cts loss cts oper net profit loss sales mln mln note net excludes extraordinary charges from provision for roofing products warranties and costs from sale printing laminate division dlrs mln dlrs quarter and dlrs mln dlrs year net excludes tax credits dlrs dlrs quarter and dlrs dlrs year reuter 
trade	rostenkowski opposes protectionist trade bill house ways and means committee chairman dan rostenkowski said congress must avoid temptation pass protectionist trade bill this year remarks prepared for delivery before the national press club rostenkowski ill predicted major trade legislation will sent president reagan the end this year but warned that his conciliatory message the trade bill did not mean would oppose proposal that would warn other countries their access the american market would curtailed unless they opened their markets goods complaints about foreign trade restraints are not smoke screen for protectionism they plea for fairness rostenkowski said only reasonable ask the nations that have denied access open return for continued freedom the american market added however said there would likely changes the market access proposal from the plan which cleared the house last year that plan would have set specific time table for foreign countries ease import restraints they would face pct cut exports the united states reuter 
acq	imtec imtc gets merger offer imtec inc said some shareholders computer identics inc cidn have proposed merger 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 longer had the support majority shares held said the shareholders had called for the resignation all but one computer identics directors and suggested that new board pursue merger talks with imtec but imtec said merger talks havew yet taken place reuter 
earn	kay jewelers inc kji qtr net shr dlrs dlrs net mln revs mln mln year shr dlrs dlrs net revs mln mln reuter 
earn	wall street stocks anacomp inc aac anacomp inc one the most actively traded nyse issues rose today least one analyst expected earnings boosted its planned acquisition micrographics company anacomp rose volume shares after trading high seven earlier howard harlow analyst whale securities corp said anacomp earnings for fiscal ending september could doubled cts share from the cts share had forecast before anacomp agreed buy datagraphix micrographics firm from general dynamics corp the company can earn cts share fiscal maybe much dlr share because datagraphix harlow said most the benefit will the fourth qtr because will integrate the company the second half anacomp earnings will less has problems integrating datagraphix harlow said spokesman anacomp said the company expects complete its deal for datagraphix later this month she would not say how much will pay for datagraphix but noted that datagraphix contributed mln dlrs earnings general dynamics revenues mln dlrs harlow said fellow analyst whale securities estimates that anacomp will pay between mln dlrs mln dlrs for datagraphix the estimates the street narrow down between mln dlrs and mln dlrs harlow added anacomp reported net mln dlrs nine cts share its first qtr ended december from dlrs one share anacomp fiscal earned dlrs cts share whale securities recommends buying the stock harlow said reuter 
acq	corrected lifetime lft buy nippon lace sahres lifetime corp said agreed buy five mln shares pct nippon lace ltd for dlrs share mln dlrs said plans enter the health care business japan addition said koba electronics ltd affiliate nippon will buy four mln unissued shares pct stake lifetime for mln dlrs five dlrs share corrects show nippon affiliate koba buying stake lifetime reuter 
trade	exports body gets new executive director export credits guarantee department has named malcolm stephens director export finance barclay bank plc and former career civil servant ecgd for years the post executive director department spokesman said stephens replaces jack gill who retiring early aged drop the ecgd business volume and rise its debt the exchequer have led criticism parliament recent years stephens said the fall business volume was top convern adding that the department may have compete more aggressively with private insurance firms providing similar services the department annual report for the year ended march showed exports insured the department fell billion stg from billion the year before while its debt the exchequer almost doubled mln stg stephens said had specific list changes but among his chief concerns was the weakened condition lesser developed countries and their ability pay for their imports the agency will have review its policies insuring export credits lesser credits country country basis said large lump political risk insurance the sort thing want take look you have try look forward see you are simply peak and trough situation more long term thing stephens said response qustion about whether ecgd will strike more countries from its list political risk insurance recipients 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 and staff buildiers inc have extended the term their merger agreement until may tender loving care also said norrell corp agreed not acquire any additional staff builders shares until september adding norrell was paid dlrs for the standstill arrangement tender loving care said agreed buy the staff builders common held norrell about pct those outstanding for dlrs immediately prior the consummation the merger tender loving care said the extended merger agreement continues provide for the exchange its shares for each staff builders share outstanding announced february the staff builders shareholders meeting vote the merger originally convened and adjourned december will reconvened april tender loving care said its payment norrell will include dlrs cash and five mln dlrs new series eight pct tender loving care convertible preferred tender loving care said and staff builders have filed revised registration and proxy statement with the securities and exchange commission upon clearance the revised proxy statement the commission and its distribution staff builders shareholders that company management will continue solicit proxies for approval the merger tender loving care said will have the power vote about pct staff builders shares the adjourned meeting with spokesman explaining that this represents the proxies held norrell which started buying the stock after the record date for the meeting addition staff builders officers and directors own about pct its stock and have agreed vote favor the merger accordingly the vote additional pct the outstanding shares will required approve the merger tender loving care said reuter 
acq	varian var talks with philips electronics varian associates inc said holding discussions with philips electronics regarding the purchase philips broadcast transmission unit the united kingdom pye tvt limited pye tvt designs and manufactures broadcast transmission equimpment specializing television frequencies reuter 
acq	butler btlr sell part unit butler manufacturing said agreed principal sell part its controls division enercon data corp minneapolis terms the sale were not disclosed the transaction expected closed march involves the controls division energy management and power line carrier product lines butler said costs associated with the sale were included its restructuring charge taken last year fourth quarter and will have effect its earnings reuter 
earn	fertility and genetics research baby qtr periods ended december shr loss cts loss seven cts net loss loss revs reuter 
trade	rostenkowski reluctant back tax hike house ways and means committee chairman dan rostenkowski said would reluctant back the tax increase did not have president reagan support told national press club luncheon there would number tax proposals that could debated reagan sought tax increase help balance the budget however said would prefer leave the tax rates enacted last year tax reform bill unchanged there have been calls congress hold the rates the level rather than allow them fall next year reagan proposed billion dlrs revenue part his budget proposal but did not include general tax increases trade issues rostenkowski said did not expect the major trade bill this year would single out any industry for special protection after individual items trade bill suicide said this apparently ruled out congressional approval another textile trade bill limit quotas textile imports was proposed again this year reuter 
acq	magellan corp sets merger with balzac magellan corp said has entered into letter intent acquire balzac investments inc transaction that will result former balzac shareholders owning about pct the combined company the company said completion the merger the combined company wopuld known power cell inc and engaged the development balzac technology related its quick charge product for charging auto batteries the transaction subject approval shareholders both companies reuter 
earn	united cos financial corp uncf qtr net shr cts cts net revs mln mln avg shrs year shr dlrs dlrs net mln revs mln mln avg shrs reuter 
earn	bristol myers bmy sets quarterly qtly div cts cts prior pay may one record april three reuter 
acq	american aircraft corp buys private firm american aircraft corp said has acquired pct interest privately held hunter helicopter nevada inc the purchase was made for undisclosed amount american aircraft stock the company said said the acquisition will increase shareholder equity american aircraft 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 eight cts prior qtr payable march record march reuter 
acq	international technology itx makes acquisition international technology corp said has purchased western emergency services inc pooling interests transaction international technology hazardous materials management company said purchased western emergency environmental services firm offer broader range environmental services the gulf coast area reuter 
earn	howden and ltd increases dividend semi annual cts cts prior pay june record june reuter 
earn	steel inc qtr net oper shr cts cts oper net revs mln mln avg shrs mln year oper shr dlrs cts oper net revs mln mln avg shrs mln mln note qtr shr and net exclude tax gain dlrs cts share versus gain dlrs dlrs share year shr and net exclude tax gain dlrs cts share versus gain dlrs dlrs share reuter 
earn	willcox and gibbs inc qtr net oper shr cts cts oper net sales mln mln avg shrs year oper shr dlrs dlrs oper net sales mln mln avg shrs note operating net excludes gains dlrs cts share quarter and dlrs dlrs share year from tax carryforwards reuter 
earn	profit outlook aided engine order one general electric biggest businesses aircraft engines will ride wave increasing profits into because new contract worth mln dlrs wall street analysts said previously was expected the business would peak and decline some point the next five years the improved outlook results from amr corp amr decision order new planes powered engines creative financial footwork helped get the order said nicholas heymann analyst drexel burnham lambert inc amr declined into detail financing arrangements for its order boeing and airbus industrie twinjet long distance aircraft but amr said was using rent plane leases that allow operate the aircraft without adding its debt structure amr also has the right decline delivery the planes return them short notice the arrangement protects amr the case unexpected development such severe downturn the economy from point view the package looks like good deal for several reasons heymann said will able record revenue sale the time delivery heymann noted and for some reason amr decides not take the planes financial arm general electric financial services inc would have little trouble rounding another airline that wanted the fuel efficient planes the whole the deal appears pose little risk for heymann said stock declined shares midafternoon smith analyst smith barney harris upham and said for billion dlr revenue company one order will have much effect the stock russell leavitt analyst salomon brothers inc said the order will help maintain good level production and profitability the aircraft engine business for heymann sees operating profits from jet engine business rising from mln dlrs last year billion dlrs revenue from jet engines was close six billion dlrs last year with well over half the business the military sector according analysts estimates the rosy outlook for jet engine business coincides with upbeat performance other segments heymann expects earn dlrs per share the first quarter saying many will suprised the results believes has shown through its acquisition rca corp that has unique ability buy major business and reshape pruning some parts and recombining parts with other elements its business areas smith sees earning dlrs per share the current quarter credits good results rca turn aided the nbc broadcasting operation and lower interest rates leavitt sees dlrs for the current quarter part crediting significant benefits from the rca acquisition reuter 
earn	buckhorn inc bkn qtr loss oper shr loss dlrs profit cts oper net loss profit revs mln mln avg shrs mths oper shr loss dlrs profit cts oper net loss profit revs mln mln avg shrs note prior qtr excludes loss seven cts per share for discontinued operations qtr excludes extraodinary loss excludes loss cts per share for and gain cts per share for for discontinued operations excludes loss for net for extraordinary item reuter 
earn	buckhorn inc bkn sees higher profits buckhorn inc said itd nine million dlr backlog for orders and less expensive operating environment should yield significant levels operating profits for buckhorn manufacturer reusable plastic shipping and storage containers recorded dlrs per share operating net loss for buckhorn said the year results included non recurring expense incurred complete major restructuring efforts and defend against the hostile tender offer from ropak corporation reuter 
earn	ccr video qtr nov net shr cts nil net sales reuter 
earn	del webb investment dwpa qtr net shr eight cts cts net revs year shr cts cts net revs del webb investment properties inc reuter 
earn	woolworth profits rise pct the specialty retailing area continues pay off for woolworth once known only five and dime store chain which said its income rose pct was the fourth consecutive year profit increases for the new york based retailer which was founded over years ago woolworth income rose mln dlrs dlrs per share compared with profit mln dlrs per share revenues for the year rose billion compared with the prior year billion for the fourth quarter the company reported profits rose pct mln dlrs dlrs per share compared with fourth quarter results mln dlrs per share revenues rose billion from billion dlrs roy garofalo woolworth vice president told reuters that income generated the company specialty store operations accounted for pct the parent company profits said the company now has specialty stores operating under different names woolworth plans open more specialty stores this time last year operated specialty stores garofalo said garofalo said the largest specialty chain operated woolworth kinney shoe stores followed the richman apparel unit among other units are little folk shop chain discount children apparel stores the place discount drug health and beauty aid operation and face fantasies which sells cosmetics there are currently about woolworth general merchandise stores operating worldwide which are the united states harold sells chairman and chief executive woolworth said statement these results are especially gratifying they are improvement over last year record earnings sells that was the fourth successive year earnings each quarter improved over the corresponding year earlier period woolworth variety store operations were hard hit the and early the quickly growing discount store industry attempt compete the woolworth opened discount general store chain woolco and brannam discount apparel chain both were failures the united states although woolco still operates canada however woolworth changed its strategy and announced that would operate specialty stores that time the company said would create new groups such stores specialty stores generally have higher sales per square foot than general merchandise stores reuter 
earn	royal resources corp rrco qtr dec loss shr loss cts loss dlrs net loss loss revs six mths shr loss cts loss dlrs net loss loss revs reuter 
acq	american aircraft buys into helicopter builder american aircraft corp said has acquired pct interest privately owned hunter helicopter nevada inc for undisclosed amount stock american aircraft official said the company has option acquire the remaining pct hunter helicopter the business building two passenger helicopter retailing for about dlrs each which certified the federal aviation administration the helicopters will manufactured american aircraft uvalde texas plant added reuter 
earn	premier industrial corp pre regular dividend qtly div cts cts prior qtr payable april record march reuter 
acq	international technology itx buys firm international technology corp said has purchased privately held western emergency service inc stock transaction western emergency environmental services firm has annual sales between one and two mln dlrs compared international technology roughly mln dlr annual sales spokesman for international technology said reuter 
earn	continental general insurance cgic qtr net shr cts cts net year shr cts cts net note full company name continental general insurance net includes profit from sale securities dlrs four cts share and dlrs five cts share respectively qtr and year and dlrs nil per share qtr net for year includes loss from sale securities dlrs eight cts share reuter 
earn	margaux controls inc margx qtr loss shr loss dlrs loss cts net loss loss revs nine mths shr loss dlrs loss cts net loss mln loss revs mln note current periods include loss mln dlrs from discontinued operations reuter 
earn	merchants group inc mrch qtr oper net oper shr profit cts loss dlrs oper net profit loss revs mln mln year oper shr dlrs loss dlrs oper net profit loss revs mln mln note qtr and oper net exclude realized investment gains dlrs and dlrs respectively which includes provision for income taxes dlrs and dlrs for the periods respectively qtr and oper net exclude dlrs cts per share and dlrs dlrs per share for net operating loss carryovers qtr and oper net exclude realized investment gains dlrs and dlrs respectively reuter 
earn	continental general cgic sets stock dividend continental general insurance said its board directors declared pct stock dividend common shares payable april one shareholders record march the company yesterday paid quarterly cash dividend cts share unchanged from the previous quarter shareholders record february reuter 
earn	margaux controls inc margx qtr dec loss shr loss dlrs loss cts net loss loss revs nine mths shr loss dlrs loss cts net loss mln loss revs mln note net losses inlcude dlr charge from discontinued operations building management system sold cetek system inc jan reuter 
acq	harris cuts stake bell industries harris associates chicago investment advisory limited partnership said lowered its stake bell industries inc shares pct the total outstanding from shares pct filing with the securities and exchange commission harris said sold bell common shares between dec and feb prices ranging from dlrs each harris said its dealings bell stock are behalf its advisory clients reuter 
acq	goodyear chairman criticizes corporate raids the chairman goodyear tire and rubber concern that survived recent hostile takeover bid charged that terrorists three piece suits are undermining the nation industrial base speech meeting south florida business executives goodyear chairman robert mercer lashed out corporate raiders and takeover specialists accusing them causing serious harm the companies they target their interest not preserving and strengthening america industrial and providing jobs said their product simply deals and that not product which country can base future last year mercer fought off takeover attempt british industrialist sir james goldsmith but goodyear independence was preserved high price mercer said the company bought back goldsmith stock for mln dlrs giving him mln dlr profit goodyear also paid him mln dlrs for expenses and bought about mln other shares for over two billion dlrs effort 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 pct said mercer who plans testify tomorrow senate hearing proposed bill control corporate raiders said hostile takeovers have also hurt workers reuter 
earn	tiverton petroleums ltd nine mths dec net shr six cts five cts net revs reuter 
earn	mca inc mca sets regular qtrly payout qtrly div cts cts prior pay april record march reuter 
grain	soviet grains seen entering spring shaky note soviet winter grains could off faulty start this spring after enduring usually dry fall and cold winter weather and crop analysts said prospects for another near record grain harvest the soviet union appear dim this point but premature 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 the soviet union said from weather standpoint you can say with certainty that the soviets are not getting off good start and will have lower crop than last year gail martell chief meteorologist for hutton said the next six weeks the ussr grain growing areas will the crucial period that will determine the final outcome the winter crops martell and other analysts said where the crop really made broken still ahead agriculture department authority the ussr said the soviet union recently reported that nine mln hectares winter grain will have reseeded due winterkill this would equal about pct the total winter crop and would the second highest winterkill ten years the usda analyst said with timely spring soviet farmers would probably able reseed the damaged acreage with spring crops but analysts noted that spring crops normally yield lower than winter crops sometimes much pct lower normally winterkill caused inadequate snowcover combined with cold temperatures this winter however snowcover soviet grain areas has generally been excellent the bulk winterkill analysts speculate likely has been due very dry fall and subsequent poor crop germination fall dryness may problem there good correlation between mediocre crops and fall dryness martell said precipitation last fall was little pct normal southern and northern ukraine and below normal over the entire winter crop area she said recent cold temperatures grain areas which the snowcover has been gradually melting could also have caused problems ice crusting and winterkill jim candor senior forecaster for accu weather said livestock feed needs have probably increased because the fall and winter analysts said the dry fall damaged pastures the cold winter raised feed demands and late spring would require longer off pasture feeding they said the soviets are not desperate situation they don have buy grains now usda official said but the soviets are worried about their winter crops and they feel that last year huge crop mln tonnes was one time fluke brought perfect conditions more soviet buying might occur insure crop supplies said bad weather during the next six weeks could push the soviets back into the market weather analysts said lot winterkill could occur during the next month and half martell said reuter 
earn	royal resources corp rrco qtr dec loss shr loss cts loss dlrs net loss loss revs avg shrs first half shr loss cts loss dlrs net loss loss revs avg shrs note losses include charges mln dlrs both periods mln dlrs both periods for write down 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 indirect wholly owned unit hanson trust hanson said that promptly following the filing the certificate merger kaiser cement common shares will delisted from the new york stock exchange hanson also said accordance with the merger agreement kasier cement also has redeemed all outstanding shares its dlr convertible preferance stocks and its outstanding pct convertible debentures due the acquisitions total purchase price including cost financing the above mentioned redemptions will about mln dlrs hanson said reuter 
crude	oil prices rise saudi effort crude oil prices rallied today moving over dlrs barrel because saudi arabia determined effort support prices analysts said the saudis and other opec nations are jawboning the market hoping restore confidence and prices and this without another meeting said sanford margoshes oil analyst with shearson lehman brothers inc but opec not out the woods yet longshot due seasonal declines demand and some cheating added oil industry analysts said saudi arabia has led the attempt get other opec members resist pressures discount from the official prices agreed last december the analysts said that get others hold the line saudi arabia pushed hard the meeting deputy oil ministers the gulf cooperation council last weekend and the cooperation council oil ministers meeting the previous week the saudis have also offered support members having difficulty selling their oil analysts said they are trying make sure that one discounts and prevent that appears that saudi arabia some other opec member will allocate some their oil sales help members that lose sales margoshes said added that the allocations would probably the form loans repaid when these nations resume sales analysts said this would useful keeping line nations like qatar which has had trouble selling oil but also likely that such assistance would provided nigeria which under pressure extend discounts analysts said that saudi arabia with assistance from opec president rilwanu lukman was trying avoid emergency opec meeting for fear that would give the appearance that the december pact falling apart daniel mckinley oil analyst with smith barney upham harris and said both physical and futures markets have been oversold and only took small spark bring short covering rally believes iranian trade mission tokyo which refused discounts japanese buyers brought japanese refiners into the market cover their short positions oil traders said one japanese refiner came into the market but cargoes may dubai which sent prices mideast sours with dubai trading dlrs after trading yeterray low 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 pick cargoes brent for japan and european trade sources indidate rumors vessels being fixed make such shipments north sea brent today rose over dlrs with trades reported high dlrs one dlr opec members denials that they are producing over their quotas sparked moves cover short postitions indonesian oil minister subroto said today that opec production was below the mln bpd quota agreed last december but gave details opec production against claims was more least one mln bpd above that level the production probably about their quota level and largely because saudi arabia will not discount and canot sell its oil result margoshes said analysts have mixed opinions about the extent the current rally some believe prices can continue rise saudi arabia and opec hold steady refusal 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 indepedent petroleum economist said slow growth the economies the and oecd would keep demand for oil slack and now estimates that demand rise about pct over reuter 
earn	kasler corp kasl qtr jan net shr profit three cts loss seven cts net profit loss revs mln mln reuter 
earn	seaman furniture seam stock split seaman furniture inc said its board declared two for one split the company outstanding stock said holders its common will receive one additional share for each share held march said certificates representing additional shares will distributed soon possible after april reuter 
earn	scott hospitality inc qtr jan net oper shr eight cts eight cts oper net revs mln mln nine mths oper shr cts cts oper net mln mln revs mln mln net excludes extraordinary gain dlrs cts shr net reflects three for one stock split qtr and issue mln subordinate voting shares qtr reuter 
earn	telxon corp tlxn sees higher revenues telxon corp reported expects revenues for the quarter ending march between mln dlrs the company said earnings per share for the period should between cts cts the company making announcement this time response analysts fourth quarter revenues and earnings per share estimates mln mln and cts cts respecivtely said raymond meyo president and chief executive officer telxon recorded revenues mln dlrs for the quarter last year and earnings per share cts adjusted for three for two stock split may reuter 
acq	royal resources rrco sets vote sale royal resources corp said its board set april shareholders meeting vote the sale its oil and gas properties for dlrs increase authorized common mln shares from mln and the change the company name royal gold inc the company has agreed sell its oil and gas properties victoria exploration perth western australia royal resources also said the sale its interest two gold properties the colosseum mine san bernardino county calif and the camp bird mine near ouray colo was closed february the company said received mln dlrs and cancellation the remaining balance due the acquisition the interest adding this represents mln dlrs more than paid for the interest reuter 
earn	american vanguard corp amgd year net shr cts cts net sales mln mln note qtr figures not given reuter 
earn	harper international inc hnt qtr jan shr cts cts net revs avg shrs nine mths shr cts cts net revs mln mln avg shrs reuter 
earn	witco corp wit sets regular qtly payout qtly div cts cts prior pay april one record march reuter 
crude	pancanadian sell north sea properties unit whitehall for cash 
earn	mds health group limited qtly payout qtly div six cts six cts prior pay april one record march reuter 
earn	harper international inc hnt qtr net qtr ended jan shr cts cts net revs avg shrs nine mths shr cts cts net revs mln mln avg shrs reuter 
earn	burst agritech inc brzt year nov loss net loss loss sales reuter 
crude	api says distillate stocks off mln bbls gasoline off crude 
crude	pancanadian sell british interests pancanadian petroleum ltd said agreed sell its working interest its north sea properties and its british unit canadian pacific oil and gas canada ltd whitehall petroleum ltd private british company pancanadian pct owned canadian pacific ltd said would receive mln british pounds cash mln canadian dlrs closing expected two three months said the deal subject approval regulators and its partners the properties which consist exploration wells will also retain royalty interest the properties reuter 
earn	telxon txln sees slightly higher qtr net telxon corp said expects per share earnings for its fourth quarter ending march about cts cts revenues mln dlrs mln dlrs for the year ago quarter the company earned cts share adjusted for three for two stock split revenues mln dlrs the company said made the earnings estimate response analysts forecasts which said called for per share earnings cts cts and revenues mln dlrs mln dlrs reuter 
acq	reid ashman reas divest test product unit reid ashman inc said has decided divest its test products division located santa clara the company said will entertain offers through march also said steven reid company founder and president the test division has made offer purchase the unit the company test division accounted for about ten pct total revenues the year ended sept and currently running revenue rate under two mln dlrs per year said reuter 
earn	pacific lighting copr plt quarterly dividend qtly div cts cts pay feb record jan reuter 
earn	cetec corp cec quarterly dividend qtly div five cts five cts pay may record may reuter 
crude	api says distillate gas stocks off week distillate fuel stocks held primary storage fell mln barrels the week ended feb mln barrels from mln the previous week the american petroleum institute api said its weekly statistical bulletin the oil industry trade group said gasoline stocks fell barrels mln barrels from revised mln while crude oil stocks rose barrels mln from revised mln said residual fuel stocks fell barrels mln from mln barrels api said refinery runs the week fell mln barrels per day from revised mln and refinery use operating capacity was pct off from revised pct crude oil imports the week fell mln bpd from revised mln api added reuter 
earn	jones medical industries inc jmed qtr net shr six cts five cts net sales avg shrs mln mln year shr cts cts net sales avg shrs mln mln reuter 
earn	maui land and pinapple inc quarterly dividend qtly div cts cts pay march record feb reuter 
trade	wine exports rose per cent last year exports american wine rose per cent last year total million gallons the wine institute said the san francisco based promotional group said per cent the exported wine was from california and the top three markets were canada japan and britain japan which edged out britain the leading importer american wines continued second place canadian imports rose per cent million gallons japan per cent million gallons and britain per cent gallons spokesman for the institute said the declining value the dollar and strong promotional efforts the part the california wine industry contributed significantly the increased shipments the wine exports were valued mln dlrs from mln dlrs the previous year reuter 
earn	trimac ltd year net shr nine cts six cts net revs mln mln note year includes tax gain dlrs reuter 
acq	oppenheimer ups viacom via stake pct oppenheimer and new york brokerage firm said raised its stake viacom international inc the equivalent shares pct the total from shares pct filing with the securities and exchange commission oppenheimer said bought net viacom common shares between jan and march prices ranging from average dlrs each part its stake options said bought the shares part its arbitrage and investment business movie theater magnate sumner redstone and viacom management group are bidding war for viacom reuter 
earn	empi inc empi qtr loss shr loss cts profit cts net loss profit sales mln mln mths shr loss cts profit cts net loss profit sales mln nine mln reuter 
trade	senate panel could consider trade measure the senate agriculture committee may take bill tomorrow that would strengthen the activities agricultural trade teams selected developing countries committee staff said the measure sponsored committee chairman patrick leahy and sen john melcher mont would establish trade teams between six and nine persons drawn from federal agencies and private voluntary organizations staff said the trade missions would seek generate interest the government food donation and commercial programs section export credit and export enhancement and upon return required advocate extension concessional commercial benefits interested countries the trade teams would made representatives the agriculture department state department the agency for international development and private voluntary organizations such wheat associates the bill would require teams within six months visit seven countries mexico philippines indonesia india bangladesh senegal and nigeria within one year after passage the measure another eight countries would have visited peru kenya the dominican republic costa rica malaysia venezuela tunisia and morocco other countries could added the list senate staff members said the bill still the drafting stages had broad support and was expected approved the committee tomorrow reuter 
earn	florida public fput splits stock ups div florida public utilities said its board declared three for two stock split its common stock said holders record april will receive one additional share may one for each two shares held the company also said raised the dividend its common stock two cts cts share pre split basis the dividend payable april one holders record march reuter 
earn	city investing trust cnvlz sets cash payout city investing liquidating trust said declared cash distribution cts unit payable april unit holders record april one the trust last paid stock distribution general development corp gdb shares july reuter 
earn	florida commercial banks inc flbk dividend qtly div cts cts prior pay march record march note quarterly dividend for prior quarter included special payout five cts share reuter 
earn	timminco ltd year net oper shr cts cts oper net revs mln mln avg shrs note net excludes extraordinary gain dlrs seven cts shr ago gain dlrs one shr reuter 
earn	united fire and casualty qtr net shr profit cts loss cts net profit loss avg shrs year shr profit dlrs profit cts net profit profit avg shrs note full company name united fire and casualty net includes realized gains dlrs and dlrs respectively qtr and year and dlrs and dlrs respectively qtr and year results restated for three for two stock split net income for has been restated due change the method used computing deferred acquisition costs results include the effect stock offering resulting the issuance additional shares common stock reuter 
earn	power corp canada qtr net oper shr cts cts oper net revs mln mln year oper shr dlrs cts oper net revs mln mln note fourth quarter results exclude extraordinary and other items which raised final net dlrs cts share and lowered final net dlrs cts share full year results exclude extraordinary and other items which raised final net dlrs dlrs per share and net dlrs per share results restated reflect june two for one stock split reuter 
earn	vendo ven qtr loss shr loss dlrs loss cts net loss loss sales mln mln mths shr loss dlrs profit cts net loss profit sales mln mln note prior year net includes extraordinary loss dlrs qtr and extraordinary profit dlrs year reuter 
earn	lawson products inc laws raises qtly payout qtly div seven cts six cts prior pay april record april three reuter 
earn	kaneb energy kep may omit future payouts kaneb energy partners ltd said may forced omit lower future quarterly cash distributions because contract dispute with two major customers and the continued slump oil and gas prices the partnership said however that will pay regular quarterly distribution cts unit april holders record march reuter 
earn	brascan ltd brs qtr net shr cts cts net mln mln year shr dlrs dlrs net mln mln note holding company reuter 
earn	florida commercial banks inc flbk qtly div qtly div cts cts prior payable march record march reuter 
earn	chauvco resources ltd year net shr cts cts net revs reuter 
crude	saudi success seen curbing opec production saudi arabia will succeed pressuring other members the organization petroleum exporting countries stay within their production quotas said morgan stanley group managing director john wellemeyer wellemeyer speaking reporters offshore oil engineering conference also said expected opec nations attempt hold prices under dlrs barrel for several years keep industrial demand for residual fuel oil strong over the next few weeks think you see concerted effort the saudis get production down wellemeyer said the saudis are committed that price level dlrs barrel and are willing make happen again said recent weeks oil prices fell the dlrs barrel level market reports some ope members producing above their quota pushing total opec production mln barrels per day but prices rebounded today with april crude prices about one dlr over dlrs barrel belief saudi arabia attempting curb opec output wellemeyer said that sharp declines oil production could push demand for opec oil above mln barrels per day early and mln barrels per day although the projected increases demand for opec oil should strengthen world prices wellemeyer said believed the organization would hold its official price below dlrs barrel for some time prevent residual fuel users from switching natural gas supplies the interfuel swing market accounts for about eight mln barrels day pct the world demand for oil reuter 
earn	zenith labs zen will report qtr loss zenith laboratories inc said the company will report fourth quarter loss and the amount will determined completion its year end audit the company did not elaborate further for the third quarter ended sept zenith reported loss dlrs cts per share adjusted for may for stock split the company also said received food and drug administration approval market cefadroxil generic version antibiotic with domestic sales exceeding mln dlrs zenith said will not market the drug until questions relating the applicability certain patents have been resolved reuter 
earn	dexleigh corp six mths dec net shr four cts three cts net revs mln mln reuter 
grain	congress look soil program exemptions the senate agriculture committee expected take 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 called sodbuster law farmers who planted alfalfa and other multiyear grasses and legumes highly erodible land the years through lose federal farm program benefits they produce row crop that land later years sen edward zorinsky neb sponsor the measure said recently that those crop rotating practices resulted less erosion than the practices many farmers who produced strictly row crops reuter 
acq	nippon steel invests mln dlrs gtx corp gtx corp said nippon steel japan move diversify into high technology invested eight mln dlrs gtx nippon move was the result current exchange rates and the revaluation the yen which have made the electronics industry attractive investment opportunity for japanese corporations according gtx statement gtx noted that nippon expecting sales billion dlrs that amount six billion dlrs targeted for electronics gtx located phoenix makes computerized systems that read drawings and transfer them into data bases reuter 
acq	dealer extends bid for canadian tire dealer holdings ltd said extended its previously announced offer for pct canadian tire corp ltd midnight march ctc group canadian tire dealers which already owns pct canadian tire currently appealing ontario court against previously announced ontario securities commission ruling blocking ctc mln dlr bid the blocked bid did not include non voting shareholders who hold pct canadian tire equity reuter 
earn	rockwell rok sees improvement rockwell international corp continues expect significant improvement results despite the somewhate disappointing performance one its business segments president donald beall told reuters rockwell reported net earnings its first quarter ended december mln dlrs dlrs per share compared mln dlrs cts per share year ago operating earnings however were off about four pct and analysts have attributed the decline rockwell allen bradley unit which has suffered from weakness the industrial automation market soft market now but are not concerned moving forward with market development and enhancing market share beall said allen bradley unit beall who was los angeles address technology management conference said first quarter sales for the allen bradley unit were flat compared year earlier said the company does not break out operating earnings unit quarterly basis beall said the recent trend toward cost sharing the research and development phase government contracts should not have major impact rockwell near term performance noted however the increasing focus cost sharing could limit technological innovation worry that are heading into period misuse contracting approaches too early the development stages important military contracts beall said adding long term have very serious problem addition beall told the conference the greatest competitive threat defense contractors defense electronics due the government attempt take advantage competitively priced products made outside the reuter 
earn	mickelberry corp mbc sets qtly payout qtly div cts cts prior pay march record march reuter 
acq	metropolitan federal mftn make acquisition metropolitan federal savings and loan association said has signed letter intent acquire american trust hendersonville tenn for undisclosed amount cash american trust had year end assets over mln dlrs reuter 
interest	pontiac has interest rate incentives general motors corp said its pontiac division has established interest rate support incentive program effective immediately alternative its current option bonus program the company said qualified buyers pontiacs may now select special finance rates pct month contracts pct month contracts pct mopnth contracts pct month contracts the program scheduled expire april under the option bonus program which also scheduled expire april buyers receive cash bonuses the purchase pontiacs equipped with option group packages with the amount depending the option level each vehicle the company said the special interst rate program applies ann new and pontiacs sold from dealer stock and delivered customers during the program period customer may choose only one program said reuter 
earn	westar mining ltd qtr loss shr not given oper loss profit revs mln mln year shr not given oper loss mln profit mln revs mln mln note pct owned british columbia resources investment corp note continued qtr excludes extraordinary loss mln dlrs versus loss mln dlrs prior year year excludes extraordinary loss mln dlrs versus loss mln dlrs prior year reuter 
acq	dow chemical dow sell south african unit dow chemical said has agreed principle sell its industrial chemicals and plastics business interests south africa and related assets group south african investors for undisclosed terms completing the sale the company south african assets dow said will continue support its educational and health programs for south african blacks reuter 
earn	williams cos wmb year loss shr loss dlrs profit cts net loss mln profit mln revs billion billion note includes loss mln dlrs dlrs share from discontinued operations and writedowns holdings texasgulf inc restated reuter 
earn	geonex sees sales hurt production shift geonex corp geox said bellsouth corp bls unit southern bell telephone and telegraph decision postpone the start new conversion assignments geonex chicago aerial survey unit could negatively affect its fiscal revenues the company said had expected higher revenues from the records conversion work but now foresees revenues from southern bell work about eight mln dlrs the same level last fiscal year geonex said southern bell will let cas continue work progress and expects perform mechanized posting and records conversion for southern bell through but added that the southern bell decision has forced pursue opportunities with other telephone companies and municipalities replace the southern bell work reuter 
earn	nwa inc qtr shr profit cts loss nine cts 
earn	crime control inc qtr net loss shr loss dlrs loss cts net loss loss revs avg shrs mln mln year shr loss dlrs loss dlrs net loss loss revs mln mln avg shrs mln mln note net loss includes fourth quarter charge mln dlrs from writeoffs certain assets net loss includes charge about mln dlrs from settlement class action lawsuit reuter 
earn	castle and cooke inc cke qtr loss shr loss cts loss cts net loss mln loss revs mln mln avg shrs mln mln year shr profit cts profit cts net profit profit rev billion billion avg shares note fourth quarter includes after tax loss from discontinued flexi van operations mln dlrs primary earnings per share data calculated after deducting preferred dividend requirements reuter 
earn	voicemail international inc qtr loss shr loss cts loss cts net loss loss revs avg shrs mths shr loss cts cts net loss loss revs avg shrs reuter 
earn	molecular genetics inc mogn qtr loss oper shr loss cts loss cts oper net loss loss revs avg shrs year oper shr loss cts loss cts oper net loss revs avg shrs note current year net both periods excludes charge dlrs from cumulative effect accounting change for patents net both periods includes charge about dlrs from severance obligations year net includes charge dlrs from writeoff seed commitments reuter 
earn	merrimac industries inc mmac qtr net shr five cts cts net sales year shr cts dlrs net sales mln mln reuter 
earn	resources has agreement credit facility british columbia resources investment corp earlier reporting higher full year operating losses said reached agreement principle with five lenders providing for mln dlr credit facility over four year term the company said the credit facility extendable under certain circumstances with annual principal payments five mln dlrs the agreement subject certain lender approvals and completion formal documentation earlier reported losses before extraordinary items rose mln dlrs from year ago mln dlrs resources also said dividends its series preferred shares and exchangeable preferred shares will remain suspended however payment will made account the quarterly dividend the exchangeable preferred shares the company trustee from deposit account resources said sufficient funds should available pay full amount the march dividend exchangeable preferred shareholders with payment expected early april shareholders record march the company said future dividends are not declared after the april exchangeable preferred quarterly payout future payment will depend the amount dividends received from westcoast transmission wtc resources said the company said its increased fourth quarter and full year operating losses primarily resulted from lower oil prices and four month labor shutdown its balmer coal mine british columbia resources also recorded mln dlr extraordinary loss which included losses disposition north sea oil and gas interests pct owned westar mining ltd resources extraordinary charge also included writedown its investment westar petroleum gains the sales westar timber skeena and celgar pulp mills and terrace sawmill partially offset the extraordinary loss the company said the company said the asset sales have eliminated resources long term financing commitment the north sea and exposure the fluctuating pulp market also said cut long term debt mln dlrs from billion dlrs year end and management changes and staff cuts have significantly reduced costs reuter 
money-fx	money market given mln stg late help the bank england said had provided the money market with late assistance around mln stg this brings the bank total help far today some mln stg and compares with its latest forecast mln stg shortage the system today reuter 
earn	cml group inc cmli qtr jan net shr cts cts net sales mln mln avg shrs half shr cts cts net sales mln mln avg shrs reuter 
earn	dress barn inc dbrn qtr jan net shr cts cts net sales mln mln half shr cts cts net sales mln mln note share adjusted for three for two stock split may reuter 
earn	williams wmb has qtr charge williams cos said fourth quarter charge mln dlrs from discontinued operations and writedowns contributed net loss mln dlrs dlrs share against earnings mln dlrs cts the loss the quarter was mln dlrs dlrs against income mln dlrs cts year ago revenues the quarter fell mln dlrs from mln and the year fell billion dlrs from billion williams also said the previously announced sale its agrico chemical unit 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 closing plus deferred payments and proceeds mln dlrs from the sale stake peabody holding completed january the first quarter williams reported net mln dlrs cts share sales mln dlrs williams said the charges the current year were related ongoing restructuring the company said the restructuring moves had improved its balance sheet and improved the outlook for future stability and growth earnings operating profit the company northwest pipeline corp unit fell pct mln dlrs from lower sales the williams natural gas unit had operating profit mln dlrs compared mln dlrs lower sales volumes profit williams gas marketing rose mln dlrs from about mln and the william pipe line had operating profit mln dlrs versus mln dlrs year ago reuter 
earn	perry drug stores inc pds qtr jan net shr cts cts net sales mln mln reuter 
earn	nwa inc nwa qtr net shr profit cts loss nine cts net profit mln loss two mln revs billion mln year shr profit dlrs profit dlrs net profit mln profit mln revs billion billion reuter 
earn	camco inc cam sets quarterly qtly div cts cts prior pay april record march reuter 
acq	senate proxmire urges curbs takeovers senate banking committee chairman william proxmire called for curbs hostile corporate takeovers and new restrictions risk arbitrageurs the very least high time that require all risk arbitrageurs register seperately and specifically with the securities and exchange commission and that consider precluding brokerage firms and their employers from investing owning any securities issued third party risk arbitrage operations proxmire said the start hearing corporate takeovers burning issue must whether there ought complete seperation the future risk arbitrage and investment banking proxmire said said was concerned that hostile takeover attempts were hurting the economy view shared corporate executives who tesitified the hearing believe that takeovers have become abusive and tilted favor the financial buccaneers that remedial action required usx corp chairman david roderick said for congress allow the takeover game continue unchecked would economic suicide champion international corp chairman andrew sigler added reuter 
trade	spain launch export drive spain unveils billion peseta plan this month aimed boosting exports reach european community levels director general the infe export institute apolonio ruiz ligero said the target raise exports pct gross domestic product over the next four years compared pct now said this the minimum prevailing level the and there reason why should lag behind countries like italy which have similar productive structure said the plan calls for providing soft loans tax cuts and other fiscal benefits exporters and raising spain presence international trade fairs consumer goods such fashion and wine well traditional industrial exports will promoted ruiz ligero said infe would double its annual budget billion pesetas finance the four year plan while the government development aid fund fad would provide special billion peseta grant the plan calls for boosting exports five six pct real terms this year after pct decline last year ruiz ligero attributed this drop lack demand developing countries and rally domestic consumer demand which rose six pct last year after pct added that pct spain exports went organisation for economic cooperation and development oecd countries the accounts for pct the market and exports the community rose seven pct last year the government plans concentrate efforts western europe and the the problem convincing businessmen that exports are vital survival the context competition said said spanish businessmen traditionally turned the domestic market satisfy rises consumer demand while turning their backs foreign markets they have realise their share the home market going shrink with growing deregulation said foreign companies are taking positions the domestic economy and vital secure 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 agreed buy canadian ski stick and boot manufacturer cfas from warrington inc rossignol spokesman declined give financial details but said turnover cfas was about mln french francs doubling the rossignol group activities the boot and stick sectors reuter 
earn	usf and corp raises quarterly dividend qtly div cts cts the prior quarter payable april record march reuter 
earn	brnf liquidating trust sets distributions brnf liquidating trust said trustees declared liquidating dividend dlrs per unit payable april one holders record its series and certificates march the trust had paid liquidating distribution january amounting dlrs series dlrs series and dlrs series certificates reuter 
earn	stanline inc stan qtr jan net shr cts cts net revs mln mln note share adjusted for five pct stock dividend december reuter 
earn	swift energy sfy qtr net shr cts eight cts net revs year shr cts cts net revs reuter 
earn	browning ferris industries inc bfi payout qtly div cts cts prior pay april record march reuter 
acq	buffton corp buff buys and instruments buffton corp said completed the purchase and industruments inc for two mln dlrs cash and shares common stock said and private company headquartered kansas and had sales dlrs buffton said the company designs and manufactures aviation computer display systems and engine instrumentation reuter 
earn	vereins und westbank reorganize network und westbank vhbg plans streamline its branch network improve its distribution financial services management board member eberhard rainer luckey said told news conference results that branches hamburg and schleswig holstein would merged closed branch frankfurt opened and that the bank was considering opening branch london luckey said the bank total operating profits rose nearly pct parent bank net profit rose mln from mln and the dividend remained unchanged marks the group balance sheet including for the first time vereinwest overseas finance jersey rose pct billion marks luckey said the parent bank balance sheet rose mln marks billion while business volume was almost unchanged billion credit volume eased billion from billion while loans companies rose seven pct foreign business and securities trading turnover also increased higher earnings from trading the bank own account contributed record operating profits net interest income rose firmer interest margins mln marks mln net commission income rose mln mln luckey said foreign commercial business was influenced fall west german foreign trade but earnings were still satisfactory the bank exposure latin america was less than two pct its total foreign credit and africa less than one pct the bank continued sell some its exposure and will also continue stock risk provisions said reuter 
trade	baldrige concerned about korean taiwan deficits secretary commerce malcolm baldrige expressed concern about the continuing trade deficits with south korea and taiwan and said that without adjustment exchange rates there little likelihood improvement speaking the president export council industry advisory group baldrige said the trade deficit issue was under discussion with those countries feel that unless see exchange rate adjustment probably won able see much change the large surplus that taiwan particular has with said wide ranging discussion trade matters baldrige also repeated concern about attempted takeover japan fujitsu company fairchild computer said that the japanese were resisting allowing companies into the giant computer business while the same time attempting acquire control company that does major computer business the market lastly baldrige said that the united states was hopeful that could complete free market agreement with canada the autumn but said major issues including acid rain remained unresolved reuter 
acq	allwaste alws make acquisition allwaste inc said has agreed principle acquire air moving and related industrial services company did not identify for dlrs common stock reuter 
earn	castle and cooke cke takes fourth qtr loss castle and cooke inc said would take fourth quarter after tax loss mln dlrs from the previously reported sale its flexi van container leasing business itel corp itel for about mln dlrs earlier the company reported loss for the fourth quarter ended january mln dlrs cts share compared with loss mln dlrs cts per share fourth quarter for the year however the diversified holding company reported net profit mln dlrs cts share versus mln dlrs cts share david murdock chairman and chief executive officer said both our food business and our real estate operations increased their earnings during the year but added that flexi van results were hit depressed daily rental rates for leased equipment caused oversupplies the company also reported that george elkas formerly executive vice president has been named president and chief operating officer flexi van corp while william burns has been named executive vice president flexi van reuter 
acq	convenient food mart cfmi agrees buy chain convenient food mart inc said has tentatively agreed buy all the outstanding stock plaid pantries inc and two associated businesses oregon and washington for undisclosed terms plaid pantries owns and operates convenience stores the portland and seattle areas the other business are two companies involved the wholesale distribution groceries and health and beauty aids said closing expected may reuter 
earn	wal mart stores inc qtr shr cts cts 
acq	marine midland buys brokerage assets marine midland banks inc said has acquired the customer account base new york discount brokerage firm ovest financial services inc for undisclosed terms expand its discount brokerage operations the northeastern said will combine ovest activities with those its marine midland brokerage service unit reuter 
crude	sun raises crude oil postings one dlr across board wti now dlrs bbl 
earn	devtek corp qtr jan net shr cts nine cts net revs mln mln six mths shr cts cts net revs mln mln reuter 
earn	saxton industries ltd saxif year net shr cts cts net revs mln mln note current results for months after change fiscal year end december from august reuter 
earn	toronto sun plans two for one stock split toronto sun publishing corp said planned two for one split its common shares subject regulatory approval and approval shareholders the april annual meeting reuter 
earn	servo corp america sca qtr jan net shr cts cts net sales reuter 
earn	electro nucleonics inc enuc qtr dec shr loss dlrs profit cts net loss profit sales mln mln avg shrs half shr loss dlrs profit cts net loss profit sales mln mln avg shrs note current half net includes dlr tax credit current year net both periods includes dlr writedown inventory clinical chemistry products reuter 
earn	wal mart stores inc wmt qtr jan net shr cts cts net mln mln sales billion billion year shr dlrs dlrs net mln mln sales billion billion reuter 
earn	mirtone international inc qtr dec net shr two cts two cts net revs reuter 
earn	pyro energy corp btu year net shr cts cts net revs mln mln reuter 
earn	unitrode corp utr qtr jan loss shr loss cts profit cts net loss profit revs mln mln mths shr loss cts profit cts net loss profit revs mln mln note income before taxes for the mths ended jan includes gains for fire insurance settlement and unusual charges for provisions for estimated cost severance pay for terminated workers and one time writedown inventory and equipment reuter 
earn	buehler international inc bulr qtr net shr five cts cts qtly div two cts two cts prior net sales mln mln year shr cts cts net sales mln mln note net includes tax credits dlrs quarter and dlrs 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 cts prior pay april record march reuter 
earn	instron corp isn sets quarterly qtly div three cts three cts prior pay april record march reuter 
earn	ideal school supply corp idel qtr net oper shr cts eight cts oper net sales avg shrs three mln year oper shr cts cts oper net sales mln mln avg shrs three mln note net both periods includes dlr tax credit reuter 
earn	salomon inc sets regular quarterly qtly div cts cts prior pay april one rcord march reuter 
acq	piedmont aviation pie board meet today piedmont avaition inc board directors will conduct special meeting beginning est today piedmont spokesman said the spokesman would not say what was the agenda mid february piedmont said its board would meet discuss all proposals acquire the company its board also withdrew recommendation accept dlrs share cash offer from norfolk southern corp nsc light competing revised bid from air group inc air offer buy pct the company stock for dlrs share cash and the remaining for dlrs share its stock reuter 
earn	first union fur leaves dividend unchanged first union real estate investments said its board left the quarterly dividend unchanged cts per share payable april record march the trust which has raised its quarterly dividend frequently the past two years and the first quarter both years said the tax reform act has limited its flexibility dividends and trustees will now consider the appropriateness any dividend increases only during the later quarters the year reuter 
earn	rykoff sexton inc ryk qtr jan net shr cts cts net sales mln mln nine mths shr cts dlrs net sales mln mln reuter 
earn	system software associates ssax qtr net periods end january and shr cts nine cts net revs note system software associates inc full name company reuter 
earn	geico corp gec raises qtrly dividend qtrly div cts cts prior pay march record march reuter 
earn	stanley works swk sets quarterly qtly div cts cts prior pay march record march reuter 
earn	novell inc novl qtr jan net shr cts cts net sales mln mln avg shrs mln mln note fourteen week periods reuter 
earn	brown forman bfdb change record dates brown forman inc said the suggestion the american stock exchange has changed the record date for the per share quarterly dividend its class and class common stock that payable april one march from march coincide with the record date for three for two stock split declared february said the record date for the dividend its four pct cumulative preferred stock has also been changed march from march reuter 
earn	goodyear tire details tax refund goodyear tire and rubber said its results include tax refund mln dlrs from the costs restructuring the company successful defense against takeover attempt james goldsmith chairman robert mercer said heavy restructuring costs related the takeover attempt combined with government tax incentives for investments resulted this federal tax refund the refund was included but not broken out its initial results spokesman said reported net income mln dlrs against mln dlrs year earlier reuter 
earn	great northern nekoosa gnn announces split the great northern nekoosa corp said will recommend shareholders two for one common stock split the company said will make the proposal shareowners its annual mmeting may dothan ala near the company great southern paper division operations conjunction with the stock split proposal the shareowners will asked approve increase the authorized common stock from mln mln shares the company said the company said will propose increase its dividend rate the split approved effective with the june payment the company said the present rate gnn common cts per share the company said would recommend quarterly rate cts share the split stock this would equal dividend cts share the present common seven pct higher than the current rate the company said had increased the dividend pct last december great northern nekoosa last common stock split three for two was december said dec there were shares gnn common stock outstanding according the company reuter 
acq	harris lifts builders transport truk stake harris associates chicago investment advisor said raised its stake builders transport inc the equivalent shares pct the total outstanding from shares pct filing with the securities and exchange commission harris said bought builders transport common shares feb dlrs share also said bought debentures feb that could converted into shares harris said its dealings builders transport were behalf its advisory clients has also said has intention seeking control the company reuter 
acq	investors have pct exovir xovr mark hammer private investor from melville and members his family told the securities and exchange commission they have acquired total shares exovir inc pct the total outstanding hammer said his group has been accumulating exovir stock since oct for investment purposes and may buy more shares sell all part his current stake while said has intention seeking control the company hammer said that because his extensive business experience and his interest exovir stock may invited become member the company board reuter 
acq	lotus lots acquire computer access corp lotus development corp said has signed letter intent acquire substantially all the assets 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 subject approval both boards reuter 
earn	equitable iowa cos eqica qtr net oper shr cts cts oper net revs mln mln year oper shr dlrs cts oper net mln revs mln mln note net excludes realized gains investment dlrs dlrs quarter and mln dlrs year net excludes discontinued massachusetts casualty operations loss dlrs gain dlrs quarter and gain dlrs gain dlrs year reuter 
earn	corroon and black corp cbl raises quarterly qtly div cts cts prior pay april one record march reuter 
trade	appoints new trade chief the european community commission today appointed its chief spokesman hugo paemen its top official charge multilateral trade negotiations commission spokesman said paemen belgian official who had previously been chief aide former external affairs commissioner etienne davignon has been his post since january the spokesman said paemen will continue chief spokesman until the retirement may paul luyten who now charge departments handling negotiations the world trade body gatt the oecd and other forums reuter 
acq	hayes albion hay delays special meeting hayes albion corp said has delayed the special meeting which shareholders will vote its merger into harvard industries inc hava until march from march due delay securities and exchange commission clearance proxy materials reuter 
earn	grossman inc gros qtr loss oper shr loss nine cts profit cts oper net loss profit sales mln mln year oper shr profit cts loss cts oper net profit loss sales billion mln note net includes discontinued operations gain dlrs loss mln dlrs quarter and losses mln dlrs mln dlrs year net includes loss dlrs nil quarter and gain mln dlrs loss dlrs year from settlement liabilities under plan reorganization from chapter bankruptcy quarter net includes dlr provision for loss future store closings offset reduction pension liabilities reuter 
acq	comdata network cdn new acquisition talks comdata network inc said active talks with other parties possible acquisition recapitalization comdata effort maximize shareholder values comdata said rosewood financial inc together with cypress partners and driftwood ltd have acquired over five pct comdata stock and rosewood intends acquire over pct comdata comdata said has not yet reached definitive agreement with mason best for the previously announced recapitalization and self tender offer reuter 
earn	webcor electronics inc wer qtr dec shr loss cts loss cts net loss mln loss mln revs mln nine months shr loss dlrs loss dlrs net loss mln loss mln revs mln mln reuter 
earn	communications systems inc csii qtr net shr cts cts net revs year shr cts cts net revs mln mln note net includes gains from discontinued operations equal three cts compared with nine cts reuter 
crude	energy california oil production drilling for oil california likely continue last year sharply reduced levels despite recent gains crude oil prices industry analysts said because much the crude oil california fields thick heavy and expensive extract oil prices would have increase near levels before any significant recovery seen drilling they said companies will probably only drill their best prospects said john curti analyst with birr wilson securities inc few new wells now are being drilled only rigs about one quarter the total available were drilling for oil onshore california last week compared about last year said bill bolster munger oil information services which tracks california drilling activity the dregs right now said bolster the state drilling activity current prices are not enough justify increased drilling said malmgreen the california independent producers association while organization petroleum exporting countries pact curb production boosted oil prices early this year prices eventually fell prices for california marker grade line blend have slumped about pct the last month dlrs from high about dlrs more than half california oil comes from stripper wells those producing less than barrels day and that much that oil costs between and dlrs barrel extract malmgreen said not unusual for stripper well cost dlrs malmgreen said many stripper wells along the southern california coast produce eight times much water crude oil and inland wells frequently require the use steam injection spur extraction the thick heavy oil said the outlook for future production california clouded lack exploratory drilling now analysts said the heart california oil patch kern county which produces about two thirds the state oil exploratory drilling has slowed crawl only exploratory wells were drilled kern county compared according david mitchell the state energy commission far this year only five exploratory wells have been drilled don think they even get what they did last year mitchell said pickup exploratory drilling likely for the rest the decade mitchell said along with the fall drilling has come decrease the number producing wells and overall production between february and october the number producing oil wells california fell pct from more than said bill guerard the california energy commission line with that decrease california crude oil output fell about pct last year due low oil prices and expected remain that lower level analysts said between february and october california crude oil production slipped from all time high mln barrels per day mln bpd guerard said total estimated crude oil production california for was mln bbls compared with mln bbls and mln bbl according the california department conservation production will probably hold around levels guerard said reuter 
earn	webcor electronics wer technical default webcor electronics inc said remains technical and payment default under its revolving credit agreement and technical default under certain other obligations its lender although its lender has not enforced its right demand payment the debt full continues reserve its right any time said earlier webcor reported third quarter net loss mln dlrs and nine months net loss mln dlrs reuter 
acq	first savings bank florida fsbf sets meeting first savings bank florida said expects special shareholder meeting held around may consider the proposed merger into gibraltar financial corp gfc said the annual meeting will held april elect two directors and ratify the appointment auditors reuter 
grain	izvestia says soviet winter crops need reseeding the government daily izvestia said considerable amount soviet winter crops need reseeded and the state grain harvest target mln tonnes will not easy fulfil without giving figures the newspaper said considerable part the winter crops must reseeded but that creates extra effort the fields spring the soviet union has previously said nine mln hectares winter grain will have reseeded because winterkill department agriculture analyst washington has said the figure nine mln hectares would equal about pct the total winter crop and would the second highest winterkill years the planned task bringing less than mln tonnes grain not simple izvestia said this week sudden fall temperatures has affected large parts the country and has caused fieldwork stop the ukraine said adding that temperatures fell low minus centigrade byelorussia reuter 
acq	borman brf buy safeway utah division safeway stores inc said agreed sell the assets and operations its salt lake city division borman inc under undisclosed terms the division includes operating supermarkets five states most which are utah idaho and wyoming together with distribution and manufacturing facilities safeway said said sales for the division for the year ended january three were about mln dlrs safeway also said the transaction subject borman ability obtain financing and successfully negotiate new labor agreements with the various unions involved reuter 
acq	fisher foods fhr says stake firm sold fisher foods inc said american financial corp has sold its fishers shares pct interest group consisting american seaway foods inc rini supermarkets inc and rego supermarkets inc the company said connection with the transaction all five american financial representatives have resigned from its board reuter 
grain	senate panel makes conservation exemption the senate agriculture committee approved measure that would exempt farmers who planted alfalfa other multiyear grasses and legumes between and from federal conservation requirement sen edward zorinsky neb said his bill would restore equity under federal sodbuster rules which currently deny farm program benefits farmers who between and planted alfalfa and other multiyear grasses and legumes without interrupting the plantings with row crop official from leading conservation group who asked not identified said the panel move was unfortunate first action because could lead the exemption potentially millions acres from the sod buster regulations established under the farm bill reuter 
earn	pico products inc ppi qtr jan shr profit three cts loss nine cts net profit loss revs mln mln six months shr loss two cts loss cts net loss loss revs mln mln note net includes gain one cts qtr and six months for discount early long term debt repayment reuter 
acq	outboard marine rising takeover rumor wall street traders said the stock outboard marine corp was rising rumor over cable television program that outboard likely takeover target sun chemical corp snl outboard was tuesday rose tuesday report cable news network today said sun chemical has pct outboard and conducting study whether for control the whole company outboard marine spokesman would not comment the rumor the cable program said buyout outboard would for dlrs share for total mln dlrs spokesman for sun chemical was not immediately available outboard marine last june adopted shareholder rights plan that will triggered when person group acquires beneficial ownership pct more its common begins tender offer that would result pct ownership wayne jones vice president outboard for strategic planning said management wants stay independent are not trying sell the company are proceeding with our strategic plans said that plan includes integrating five boat companies that outboard marine has bought since the middle december jones said all five will cost between mln dlrs mln dlrs analyst who wanted anonymity said dlrs share decent price for outboard bdding war dlrs share stretching maybe dlrs share tops said outboard which has mln shares outstanding registration for two mln common share offering with morgan stanley inc makes sense the analyst said for sun chemical strike before the offering underway reuter 
earn	algoma central railway qtr net oper shr cts cts oper net revs mln mln year oper shr cts dlrs oper net revs mln mln note net excludes extraordinary loss dlrs eight cts shr ago gain dlrs cts shr reuter 
earn	genova inc gnva qtr dec net oper shr profit four cts loss four cts oper net profit loss sales mln note prior year net includes dlr tax credit but excludes dlr gain early debt retirement reuter 
earn	supreme equipment systems corp seqp qtr shr cts cts net revs mln mln six months shr cts cts net revs mln mln note net includes gain dlrs qtr and dlrs six months from tax loss carryforward reuter 
earn	gulf applied technologies inc gats qtr oper shr loss five cts loss cts oper net loss loss revs year oper shr loss cts loss dlrs oper net loss loss revs mln note results restated for discontinued operations net both periods excludes dlr tax credit net excludes gains from discontinued pipelines and terminals operations dlrs dlrs quarter and dlrs dlrs year reuter 
earn	van dorn vdc qtr net shr cts cts net revs mln mln mths shr dlrs dlrs net mln mln revs mln mln reuter 
earn	fieldcrest cannon inc fld sets quarterly qtly div cts cts prior pay march record march reuter 
acq	varian var buys analytichem international varian associates inc said acquired all the outstanding stock closely held analytichem international inc for undisclosed amount cash analytichem based harbor city calif supplier bonded phase preparation products used prepare chemical samples for analysis varian said reuter 
earn	kaneb services inc kab qtr loss oper shr loss dlrs profit nine cts oper net loss mln profit revs mln mln mths oper shr loss dlrs profit cts oper net loss mln profit mln revs mln mln note oper excludes loss from discontinued operations dlrs mln dlrs for qtr and mln dlrs dlrs for mths note oper includes writedown offshore drilling equipment dlrs for qtr and mln dlrs for mths also includes writedowns oil and gas assets and tubular goods inventory mln dlrs and dlrs respectively for mths reuter 
earn	suspensions parts industries ltd spilf year shr cts cts net mln mln revs mln mln note full name suspensions and parts industries ltd reuter 
earn	mitchell energy and development corp mnd payout qtly div six cts six cts prior pay april two record march reuter 
earn	frost and sullivan inc frsl qtr jan shr profit cts loss two cts net profit loss revs half shr profit cts loss eight cts net profit loss revs reuter 
trade	korean trade surplus with seen falling south korea record billion dlrs trade surplus with the bound diminish the country switches purchases from japan favor companies trade minister woong bae rha said rejected suggestions the korean won undervalued and denied any plans for drastic and sudden revaluation rha heading trade mission cities last year south korea ran billion dlr trade surplus including record billion surplus with the and billion dlr deficit with japan rha told reuters interview the current trade mission looking for billion dlrs purchases from companies about quarter which represents transferred purchases from japanese sources rha said the items being sought the current mission are mainly chemicals machinery and parts said south korea the fourth largest importer agricultural products the current mission not involved that area but there are plans buy substantial amounts cotton from the noted his country clearly not open the american market nor reasonable expect that should considering south korea has billion dlr foreign debt and spends six pct its gross national product defense reuter 
earn	cri insured cii set special distribution cri insured mortgage investments inc said its advisor will recommend special distribution cts per share due the sale federally insured first mortgage park meadows madison wis for dlrs said received dlr return capital and dlrs income the sale and the distribution would represent return principal and capital gain and would payable june holders record may reuter 
earn	kaneb energy partners ltd kep qtr loss unit loss one net loss revs mln mths unit loss dlrs net loss mln revs mln note partnership formed february net includes writedown oil and gas assets mln dlrs for mths comply with full cost accounting methods reuter 
acq	digicon dgc completes sale unit digicon inc said has completed the previously announced disposition its computer systems division investment group led rotan mosle inc rotan mosle technology partners ltd affiliate reuter 
acq	computer horizons chrz acquisition computer horizons corp said purchased computerknowledge inc software training education company headquartered dallas terms were not disclosed reuter 
acq	policy management pmsc makes acquisition policy management systems corp said has acquired the majority the assets and business allied research inc salem ore and consolidated insurance services inc springfield for undisclosed terms said the two companies which had combined revenues about two mln dlrs provide underwriting information services property and casualty insurers reuter 
acq	unicorp canada uni cuts purolator pcc stake unicorp canada corp told the securities and exchange commission cut its stake purolator courier corp shares pct the total outstanding from shares pct unicorp management and investment holding company controlled its chairman george mann said sold purolator common shares march and and dlrs share purolator agreed this past weekend acquired managers its courier business and hutton lbo inc leveraged buyout valued mln dlrs reuter 
acq	firm acquires american nutrition works inc nusource investments inc publicly held shell company said acquired american nutrition works inc through transaction which american nutrition shareholders received mln shares nusource stock exchange for their shares american nutrition operates chain stores sellings vitamins and health products nusource said shareholders elected new board consisting richard trydahl samuel mineo and charles flink and voted change the name the company anw inc reuter 
trade	gatt council defers decision semiconductors the ruling gatt council deferred decision whether set dispute panel the basis european community complaint against the japanese agreement exports computer semiconductors david woods spokesman the general agreement tariffs and trade gatt told news briefing that the main parties would continue bilateral talks this was the hope resolving the row before the next council meeting april the five year accord signed july aims protect the market from dumping low price japanese microchips officially known semiconductors the complained the accord breached gatt trade rules allowing tokyo monitor prices allowing set minimum prices for japanese chips sold third countries the nation community also charged the agreement gave producers preferential access the japanese market woods said many nations hong kong canada switzerland singapore sweden malaysia and nigeria had supported the complaint during the heated council debate japan delegate minoru endo and ambassador michael samuels replied the debate that the charges were unfounded but they were willing continue bilateral talks reuter 
acq	first southern fsfa make acquisition first southern federal savings and loan association said has agreed principle acquire horizon financial corp and horizon funding corp from victor federal savings and loan association muskogee okla for undisclosed terms the company said the purchase subject approval the boards first southern and victor and regulatory agencies horizon financial services mortgage loans and horizon funding wholesale loan purchasing operation horizon services billion dlrs mortgage loans reuter 
earn	danaher corp dhr qtr net shr cts cts net rev mln mln year shr dlrs dlrs net rev mln mln reuter 
acq	firm agrees merge with lotoquik int chatsworth enterprises inc publicly held shell corporation said signed letter intent merger with lotoquik international ltd nassau bahamas based maker video lottery machines under terms the merger agreement chatsworth said lotoquik shareholders would own majority the surviving company reuter 
acq	asbestec buy contractor receives contract asbestec industries inc said signed letter intent buy asbestos abatement contractor stephens for three mln dlrs cash stock and notes the transaction expected completed early the third quarter its fiscal year ending september asbestec also said expects sign march six dlr contract remove asbestos from major apartment complex washington the project scheduled begin march nine reuter 
trade	gatt sets dispute panel canadian herring the ruling gatt council set formal dispute panel examine complaint that canadian law prohibiting export unprocessed herring and salmon was discriminatory david wood official spokesman the general agreement tariffs and trade gatt told news briefing the decision was taken after bilateral consultations failed resolve the row ambassador michael samuels charged during the council debate that canada was trying preserve domestic jobs insisting that herring and salmon processed home robert white canada deputy chief delegation replied the law was line with gatt rules and was for conservations reasons but agreed setting the dispute panel reuter 
earn	talking point general motors general motors corp staged explosive rally wall street after share buyback program announced yesterday but analysts said future remains clouded stiff competition and erosion market share shares rose active trading analysts agreed that investors liked the repurchase program but they differed sharply over the carmaker long term prospects very positive said jack kirnan kidder peabody and they clearly committed enhancing shareholder value however some analysts worry about how will pay for the buyback and whether new models will enable the carmaker recapture lost market share after the market had closed yesterday said would buy back pct its common stock the end the announcement sent investors today scrambling for shares with more than mln shares changing hands mid day the buyback plan caused several analysts bullish the stock reiterate buy recommendations this morning and least one increased his earnings estimates for based good performance expected from new car models but david healy drexel burnham lambert inc said the repurchase program not positive the buyback doesn really change the earnings outlook and puts more stress the balance sheet said since will have borrow money pay for the stock purchases the stock should settle back down around added healy projects will earn five dlrs share and dlrs compared earnings dlrs healy numbers are near the low end wall street estimates which range from five dlrs dlrs and from four dlrs dlrs like other analysts healy sees share the domestic car and truck market falling balance cars are not selling well their competitors said late february car sales fell pct from the year ago period while competitors ford motor and chrysler corp both posted increases but said february sales showed improvement over january adding that expects improvement coming months overall share car and truck sales should fall around pct from pct the end analysts said the numbers include imports kidder peabody kirnan said cost reductions and product improvements this year should lead positive cash flow the fourth quarter which will help finance the buyback stock has been real laggard and now rolling its sleeves and getting serious think there major earnings surprise the winds said kirnan raised his earnings estimates slightly today part reaction the announced buyback and sees earning dlrs this year and dlrs the company more concerned than ever about improving their relative valuation with respect ford and chrysler said another positive for the stock dividend currently five dlrs share annually which gives higher yield than its competitors kirnan said and will raise the cash dividend cts share next year predicted but analyst michael lucky shearson lehman brothers inc said car sales will weaken and new products successful will only slow but not halt the erosion its market share believe their new cars will successful but that will only curtail losses market share which will fall around pct lucky said philip fricke goldman sachs and falls the middle the bulls and bears while recommending stock said results will not improve until not looking for improvement this year this transition year for said fricke who estimates earnings dlrs and dlrs said cost cutting and new car models will not affect results but the key thing isn much what they earn this year the momentum beyond this year that important reuter 
acq	partnership cuts stake erc international erc parsow partnership ltd nevada investment partnership said lowered its stake erc international inc shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission parsow said sold erc common shares between jan and march prices ranging from dlrs each the partnership said its dealings erc stock are for investment purposes and has intention seeking control the company reuter 
crude	iranian oil minister due algeria friday iranian oil minister gholamreza aqazadeh expected here friday for talks with his algerian counterpart belkacem nabi the official algerian news agency aps said today aqazadeh who will accompanied large delegation will have talks bilateral relations the field energy and exchange views with algerian officials the current world energy situation said reuter 
earn	goldome fsb year net net mln mln note company mutual savings bank reuter 
earn	bear automotive service bear qtr oper net oper shr cts cts oper net sales mln mln avg shrs year oper shr cts cts oper net sales mln mln avg shrs note full company name bear automotive service equipment oper shr excludes extraordinary profit from utilization tax loss carryforward dlrs four cts share and mln dlrs cts share respectively qtr and year and dlrs nine cts share and mln dlrs cts share respectively qtr and year year oper net excludes loss from cumulative effect change accounting principle dlrs one share reuter 
crude	oil industry said not permanently damaged the offshore oil industry has suffered from last year collapse oil prices but should not sustain any permament damage minister state for energy alick buchanan smith said the drilling diving and supply vessels sectors had been most affected buchanan snith told the house commons energy committee noted however that oil companies were still spending six mln stg day maintain north sea production added that report the manpower services committee which said jobs were lost the industry should seen the context total workforce prices north sea brent grade crude dipped low dlrs barrel last july from peak over dlrs the previous november they recovered around dlrs barrel after last december opec meeting and brent traded today around dlrs buchanan smith said the has intention adopting opec style quotas noting that britian oil consuming well oil producing nation reuter 
acq	chase manhattan studying italian expansion chase manhattan bank considering expanding its operations italy particularly the consumer banking sector chase manhattan official said robert hunter chase manhattan area executive for europe africa and the middle east said news conference that plans broaden the bank activities the italian market have not been finalised however asked chase manhattan would consider acquisition italy hunter said will look any opportunity but the prices italian banks have been quite high chase manhattan has branches milan and rome reuter 
acq	hrs ihirf reducing stake hal roach hrsi international industries inc said would reduce its stake hal roach studios inc pct from pct return for mln dlrs from qintex inc qintex america media ltd unit said that under the deal first stage closng march would sell qintex hal roach shares seven dlrs share each for total mln dlrs and roach will repay mln dlrs advances qintex will also complete the mln dlr buy mln roach treasury shares seven dlrs each and provide roach with mln dlrs financing for expansion said said that the agreement also provided for second stage over one year which had put option exercisable one year from closing sell qintex all part its two mln roach shares for dlrs share said qintex had day call option exerciseable nine months from closing buy from all part one mln roach shares the greater dlrs each the average roach share price for three months before exercise date qintex will also acquire another mln roach treasury shares seven dlrs share months after closng for another mln dlrs said reuter 
earn	total still expects billion franc loss french oil group total cie francaise des petroles tpn still expecting billion franc consolidated net loss including minority interests for after taking account stock losses billion francs the company said communique after board meeting here late january group president francois xavier ortoli told journalists that the slump oil prices and the weak dollar had caused the stock depreciation turning consolidated net profit before losses stocks six billion francs into consolidated net loss billion francs earlier today armand guilbaud president total refining and distribution subsidiary cie raffinage distribution crd total france raff told journalists that had marked return profit for the subsidiary before stock depreciation crd made net profit before stock depreciation and currency factors billion francs last year after billion loss but its net loss last year taking account that depreciation well currency fluctuations was billion francs after billion loss crd sales fell pct mln tonnes from mln due the growth imports independent distributors following relaxation regulations guilbaud said the subsidiary expecting cut its workforce this year and from last year under job reduction scheme which will eventually save the group mln francs said concerning business said that january was good month but the situation deteriorated february reuter 
earn	steego corp stg qtr jan loss oper shr loss cts loss cts oper net loss loss sales mln mln nine mths oper shr loss nine cts loss two cts oper net loss loss sales mln mln note current nine mths net includes dlr pretax gain sale property prior year net both periods includes pretax gain dlrs pension plan termination current quarter net includes dlr tax credit prior year net includes losses from discontinued operations dlrs quarter and dlrs nine mths results restated for discontinued operations reuter 
earn	systems inc esy sets quarterly qtly div cts 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 act today urged texas state lawmakers adopt incentives find new oil reserves and exempt severance taxes oil produced from stripper wells nugent said speech the texas house representatives that the state must take the initiative molding energy policy and finding new ways assist troubled oil producers his proposal revitalize texas oil industry would exempt stripper wells that produce barrels oil less each day from the state pct severance tax said that the majority texas oil wells fall within the stripper well category and price swing two three dlrs barrel can crucial determining the well remains production nugent also called for state lawmakers exempt new wildcat wells from the state severance tax for five years financial incentive explore for new oil reserves secondary and tertiary oil production expensive methods production that inject water gas into the ground recover oil should also exempted from the severance tax nugent said his plan would exempt existing secondary and tertiary wells that produce rate less than three barrels day for three years until the price oil reaches barrel been sitting back and waiting two federal administrations develop coherent energy policy for the nation follow say have waited long enough nugent said other words let tell washington either lead follow get out the way nugent said that the financial losses the state treasury exempting marginal oil production from state severance taxes would more than made stimulating new business for the oil supply and service industry reuter 
earn	unicorp american corp uac sets quarterly qtly div cts cts prior pay march record march reuter 
earn	liberty financial group lfg regular dividend qtly div cts cts prior qtr payable march record february reuter 
earn	pactel pac sees earnings growth pacific telesis group chairman donald guinn told meeting security analysts that the company sees continued earnings growth above the billion dlrs dlrs per share earned guinn also said that capital spending stood about billion dlrs and the company expected the figure remain flat each year through noted that all captial spending will internally financed guinn also told analysts that the company faced some regulatory uncertainties ongoing rate cases its pacific bell operating company rates hearings before the california public utility commission guinn said the company faced potential mln dlr revenue reduction and due ongoing discussions with the commission said the figure might even greater the company also faces some opposition mln dlr rate hike requested for guinn said the commission found mln dlrs the hike was based questionable calculations and assumptions while mln dlrs might represented unneeded modernization costs guinn also said that the company still studying whether join international consortium that plans lay transpacific telephone cable between the and japan have not agreed anything guinn said but added would soon recieve feasibility study the venture and the company would make decision soon participating asked analyst about the recent recommendation the department justice which would allow the bell operating companies offer limited long distance services guinn said the company would likely shy away from that type expansion long distance services very competitive business commodity business and becoming more said not sure would interested getting back into that business however guinn generally applauded the recommendations saying they would give more latitude for the bell operating companies expand into non regulated businesses and provide more flexibility form strategic alliances with other companies added that while the company welcomes the expansion into new areas not currently involved any acqusition talks not have anything actively under consideration said reuter 
acq	trans world airlines makes dlr share cash merger proposal for usair 
earn	unicorp american corp uac qtr net shr cts cts net revs mln mln year shr cts dlrs net mln mln revs mln mln avg shrs mln mlnm note year net includes gain mln dlrs from sale eight real estate properties reuter 
ship	kenya signs pact establish own shipping line kenya has signed agreement with british and german interests establish shipping line that will handle pct the country external trade sources close the deal said the state owned kenya ports authority kpa signed agreement with the hamburg based shipping line unimar seetransport establish the kenya national shipping line with initial capital mln shillings sources said kpa will hold pct the shares the new company the line will initially charter vessels operate services between mombasa and the main ports industrial europe but may eventually build buy its own ships the sources said would aim carry large part kenya coffee and tea exports and oil and fertiliser imports reuter 
earn	shaw supermarkets inc shaw year jan shr dlrs dlrs semi annual div six cts six cts prior payment net mln mln sales billion mln note dividend payable april one holders record march nine reuter 
acq	dynamics corp dya settlement with cts cts dynamics corp america said has reached agreement with cts corp resolving all differences between the two companies said result the settlement cts special board committee has stopped soliciting orders purchase some all cts dynamics which now owns pct cts outstanding stock said agreed limit its shareholdings not more than pct the outstanding shares for year following the company annual meeting dynamics said the cts board will recommend cts shareholders vote the annual meeting favor the company paying dynamics dlrs reimbursement for its cts releated costs and granting dynamics option buy enough cts common dlrs share give ownership pct the outstanding stock dynamics said the price stock under the option exercisable for one year based the average closing price for the stock for the five days ending march two dynamics said cts chairman george sommer will assume the additional title president former president robert hostetler resigning director chief financial officer gary erekson ted ross and donald kacek dynamics said the cts board will reduced seven members for eight with the remaining four members the current board and three representatives dynamics new directors reuter 
grain	renewal ussr grain pact said uncertain prospects for renewal the five year ussr grains agreement are uncertain this point soviet trade official told reuters the current trade imbalance between the united states and the soviet union high commodity prices and increased world grain production make renewal the supply agreement next year less certain albert melnikov deputy trade representative the soviet union said interview the current agreement expires sept melnikov said that world grain markets are different than when the first agreement was signed statements from both and soviet officials have indicate that long term grains agreement might not attractive for both sides once was have had one agreement have had second agreement but with the second agreement had difficulties with prices melnikov said cannot give you any forecasts response the future about the agreement not want speculate what will happen after sept said melnikov noted that has seen indications from soviet government officials that they would pushing for renewal the agreement the situation different comparison three five ten years ago can produce more said reuter 
earn	danaher dhr expects earnings increase danaher corp said expects higher earnings versus expect significant increases earnings and revenues steven rales danaher chairman and chief executive officer said earlier the company reported net earnings mln dlrs dlrs share versus mln dlrs dlrs share also reported fourth quarter net mln dlrs cts share from mln dlrs cts share the previous year fourth quarter reuter 
earn	danaher corp dhr qtr net shr cts cts net rev mln mln year shr dlrs dlrs net rev mln mln note fourth qtr net includes extraordinary gain mln dlrs cts per share versus mln dlrs cts share fourth qtr and extraordinary charge dlrs six cts share net includes extraordinary gain mln dlrs cts share versus mln dlrs cts share reuter 
acq	twa twa makes merger offer for usair trans world airlines said has proposed cash merger usair group with twa which the holders usair common would receive dlrs cash exchange for their stock twa said the offer was made letter edmin colodny chairman and president usair twa said however that the negotiated deal not acceptable may make offer directly usair shareholders for pct usair outstanding stock purchased voting trust price lower than today offer twa said filing application with the department transportation seeking approval the merger well application for approval expedited basis its purchase pct usair common and the deposit the stock voting trust pending dot approval twa said that respect usair recent offer for piedmont aviation pie believes that usair shareholders would prefer cash merger proposal for usair over its proposed acquisition piedmont twa said however also would interested discussing three way deal among usair piedmont and twa twa said the merger subject the usair board redeeming the preferred stock purchase rights the poison pill issued shareholders last year and taking action that the vote majority the outstanding common stock required approve its proposed move additionally twa said would need satisfactory due diligence review usair twa said has not yet had opportunity obtain the necessary financing for the deal but added confident that will get reuter 
acq	cts cts and dynamics dya reach accord cts corp and dynamics corp america reached agreement resolving all outstanding differences between them according joint statment result the settlement special committee the board directors cts stopped soliciting offers buy all part the company said cts and dca also agreed dismiss all pending litigation between the two companies except for one appeal pending before the supreme court relating the indiana control share chapter said under the agreement the cts board will immediately reduced seven from eight with four current directors and three representatives dca being elected the board said this board will presented the slate for cts annual shareholders meeting added cts directors will recommend shareholders that they approve reimbursement dca about mln dlrs expenses relating cts and grant dca option buy pct cts shares said addition dca said agreed limit its ownership cts for the year following the annual meeting not more than pct the outstanding stock dca currently holds pct the outstanding shares cts both companies said they support the agreement and believe fair both sides reuter 
acq	measurex sells south african unit measurex corp said completed the sale its measurex south africa pty subsidiary group employees who manage the operation measurex maker computer integrated manufacturing systems said the subsidiary represented less than one pct worldwide revenues and the sale will have impact this year earnings reuter 
acq	jefferies making market usair jefferies and said making market the stock usair group inc usair received offer from trans world airlines buy the airline dlrs cash per share usair was halted the new york stock excahnge for dissemination the news was indicated reuter 
earn	trans lux tlx sets five pct stock dividend trans lux corp said its board declared five pct stock dividend payable april nine holders record march the company said directors also declared regular quarterly dividends presently outstanding shares both classes common payable april nine holders record march said unchanged dividend two cts will paid the common and cts the class stock reuter 
earn	kaneb energy partners ltd kep qtr loss shr loss one cent net loss revs mln mths shr loss dlrs net loss mln revs mln note february kaneb services inc contributed all its domestic oil and gas operations kaneb partners which was newly formed and exchanged approximately depositary units respresenting limited partnership interests kep for approximately million shares the outstanding common stock kaneb servies inc kaneb now owns approximately pct kep during the mths operation the partnership wrote down the carrying value its oil and gas properties mln dlrs the write downs reduced income dlrs per limited partnership unit reuter 
earn	dalton communications inc dalt qtr jan shr profit three cts loss two cts net profit loss revs mln mln nine months shr profit five cts profit six cts net profit profit revs mln mln reuter 
earn	correction shaw supermarkets earnings item headlined shaw supermarkets inc shaw year jan please read per share earnings drs dlrs correcting order results reuter 
earn	wtd industries inc wtdi qtr jan net shr profit cts loss one net profit loss sales mln mln avg shrs nine mths shr profit cts profit cts net profit profit sales mln mln avg shrs reuter 
acq	healthvest hvt sells shares healthvest maryland real estate investment trust said began selling five mln shares common stock dlrs share the company said also selling shares healthcare international inc hii giving the company pct stake healthvest reuter 
earn	systems esy sets qtrly payout qtrly div cts cts prior pay april record march reuter 
earn	piedmont management inc pman qtr shr cts dlrs net mln mln year shr dlrs dlrs net mln mln note year qtr include capital gains mln dlrs and mln dlrs respectively and extraordinary gain mln dlrs and mln dlrs respectively year and qtr include capital gains mln dlrs and mln dlrs respectively and extraordinary gain mln dlrs reuter 
earn	eastpark realty trust ert qtr net shr dlrs cts net rev year shr dlrs dlrs net rev mln mln note fourth qtr and had gains real estate investments dlrs share and dlrs share respectively this compares with loss dlrs cts share and again mln dlrs share for the fourth qtr and year respectively reuter 
earn	industries inc sets qtrly payout qtrly div five cts five cts qtr pay april one record march reuter 
earn	wtd industries inc wtdi qtr jan net shr profit cts loss one net profit loss revs mln mln avg shrs nine mths shr profit cts profit cts net profit profit revs mln mln avg shrs note company went public october reuter 
earn	alaska air group inc alk qtly dividend shr four cts four cts prior qtr pay may five record april reuter 
acq	usair has comment twa twa offer usair group inc said had comment offer received from trans world airlines buy usair for dlrs cash per share usair spokesman david shipley also declined comment piedmont aviation inc pie usair has offered dlrs cash per share for half piedmont stock and dlrs its own stock for the balance piedmont also received offer from norfolk southern corp nsc dlrs cash per share piedmont board was meeting today but the company declined say what was the agenda spokesman said could not comment the twa action norfolk southern corp nsc spokesman said the company had comment twa offer for usair its proposal negotiate three way merger between twa usair and piedmont don have all the details norfolk southern spokesman said the company dlr share cash offer for piedmont stands said its offer twa said alternative merger with usair would interested discussing three way combination among usair piedmont and twa said the three way merger would serve the best interests the shareholders all three companies employees and consumers reuter 
earn	leaseway transportation corp ltc qtly div qtly div cts cts prior pay april eight record march reuter 
acq	itel itel gets financing for anixter buy itel corp said obtained commitments from syndicate banks for six year secured loan about mln dlrs and had separately filed registration statements for two public offerings for total mln dlrs fund its december acquisition anixter bros inc said one the offerings will new mln dlrs issue convertible exchangeable series preferred and the other will mln dlr issue seven year senior subordinated notes both offerings will through merrill lynch capital markets said portion the proceeds from the offerings together with the proceeds form the new bank loan wll used repay the mln dlr bridge loan merrill lynch and inc mer provided for itel buy anixter itel said the banks obtained commitments from include manufacturers hanover trust mhc chemical bank new york and the first national bank chicago reuter 
acq	great american gta gains over mln loans great american first savings bank said the bank recorded gains exceeding mln dlrs sales loans and mortgage securities valued billion dlrs the san diego based bank said prepared release its report analysts here that the gains included mln dlrs arbitrage profits from the premium paid for the separation interest and principal components new federal national mortgage association strip securities the bank said reported profit more than mln dlrs the transaction involving mln dlrs fnma securities including the arbitrage gain great american recently announced plans 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 new offices and three billion dlrs assets the bank also said plans expand into other major western banking markets and considering acquisition colorado reuter 
acq	tandy brands tab sells unit tandy brands inc said sold its grate home and fireplace division investor group that includes some members grate management for dlrs cash and secured notes the company said the sale will not materially offset the dlr non recurring charge took against the sale the division reuter 
earn	browing ferris bfi declares for split browning ferris industires inc said its board declared two for one stock split payable april holders record march reuter 
earn	pennwalt corp psm qtly dividend qtly div cts cts prior payable may one record april three reuter 
acq	banner industries inc bnr completes purchase banner industries inc said completed the purchase 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 credit agreement with citicorp industries credit inc and the bank nova scotia and additional mln dlrs from offerings made for banner and its subsidiary through drexel burnham and lambert result the tender offer banner said will own approximately pct the outstanding shares rexnord the company said merger rexnord and subsidiary banner will completed before mid may reuter 
crude	murphy raises crude oil posted prices one dlr bbl wti dlrs today 
acq	phoenix steel receives offer for claymont mill phoenix steel corp said group investors offered buy its clayton steel plate mill for eight mln dlrs and the assumption bond obligation phoenix did not disclose the indentity the investors phoenix was forced close the clayton mill last month the company said the offer represents major step restructuring the company reuter 
earn	keane inc kean qtr shr cts cts net revs mln mln year shr cts cts net revs mln note shares adjusted reflect the distribution one share class common stock for every two shares common stock held record july reuter 
acq	viacom via merger expected days sumner redstone president national amusements inc predicted can win regulatory approvals wrap the billion dlr acquisition viacom international inc days redstone catapulted himself into the big leagues entertainment early today when group viacom managers and their financial backers decided not top national bid had counsel working for some time every region where viacom has cable televison systems redstone told reuters telephone interview redstone also said viacom committed working very closely with obtain approvals viacom has been seeking approvals for transfer its broadcast licenses and cable systems since september when its management group first advanced buyout plan but redstone turned the situation into spirited bidding contest which was capped the announcement this morning that viacom independent directors behalf viacom entered into defintive merger agreement with national national family business which operates chain movie theaters dwarfed viacom redstone said was weary after talks dragged through the night but also excited the prospect running leading electronic media company noted that the number motion picture admissions the has shown growth years nine satellite television channels operated viacom four are motion picture oriented pay channels redstone said exclusive contracts with pay television networks are the emerging trend until recently you could see any motion picture any pay channel redstone said noted viacom has exclusive agreements with two studios and plans sign deal with third company next month redstone said the management group investment bankers will paid what due for termination its merger agreement such fees could total about mln dlrs that will company expense redstone said said bankamerica bac corp has had numerous inquiries from lenders who want participate billion dlr financing for the deal bankamerica will provide mln dlrs after the merger viacom will subsidiary national but pct the company will public hands reuter 
trade	british aide criticizes protectionism senior british official said that protectionist bills being considered congress could trigger retaliation the european community eec and threaten the global trading system paul channon secretary for trade and industry said congress passed legislation curb textile imports which would hit shipments well shipments from major asian textile producers the community would have retaliate his comments echoed those made yesterday belgian trade minister herman croo who said the bill passed the community would retaliate imposing taxes exports channon made his remarks news conference after two days talks with reagan administration officials and members congress croo was also washington for trade talks channon said there was greater protectionism sentiment congress since his visit here last year congress and the administration tried find ways reduce the trade deficit which last year hit record billion dlrs channon also called for greater cooperation force japan open its markets foreign goods channon said japan trade surplus causing everyone problems its surplus with the united states last year was billion dlrs and with nations billion dlrs the more united pressure there could the better said channon also called for increased cooperation avoid trade disputes said the two sides narrowly avoided confrontation earlier this year over lost grains sales when spain and portugal joined the community and its liberal imports regulations were tightened conform standards but both sides drew back from the brink that time said does not mean that they would another occasion channon added that there increasing reesentment europe over the tactic negotiating under the pressure unilaterally imposed deadlines said other potential conflicts are already sight alleged european government subsidies airbus aircraft and taxes fats and oils and the commuity and the united states must therefore learn manage their relations better said another bill let the united states retaliate against nation that nation market was not open goods would bypass the trade pact gatt general agreeeement tariffs and trade arbiter trade practices said foreign trade law should judged gatt and not the united states adding the trade law interpreted the united states and not the gatt what happen the rest reuter 
earn	industries inc set regular payout qtly div five cts five cts prior pay march record march reuter 
earn	general host sees year loss general host corp said will report loss from continuing operations and sharp decline net income for the year ended january due substantial operating losses its frank nursery and crafts unit for the year ended january general reported net income mln dlrs the company said discovered problems its unit computerized accounts payable system said results its other nursery and craft unit flower time inc are not affected said its accountants are investigating the problem which will delay release its full year results reuter 
earn	medtronic inc mdt sets payout qtly dividend cts cts pay april record april reuter 
earn	louisville gas and electric lou dividend qtly dividend cts cts pay april record march reuter 
acq	robertson ups capital wire cwcc stake pct new york investor julian robertson and several investment partnerships controls said they raised their stake capital wire and cable corp shares pct the total from pct filing with the securities and exchange commission robertson and his tiger jaguar puma and tiger management entities said they bought capital wire common shares between feb and dlrs share robertson said his group has spent total mln dlrs its investment the company far reuter 
acq	twa twa tangles piedmont pie situation trans world airlines inc complicated the bidding for piedmont aviation inc offering either buy piedmont suitor usair group alternatively merge with piedmont and usair piedmont 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 begin twa offered buy usair for dlrs cash per share also said was the largest shareholder usair and threatened directly usair shareholders with offer for pct the stock lower price twa also said believed its offer was better deal for usair shareholders than acquisition piedmont but said alternatively would discuss three way combination the airlines market sources and analysts speculated that twa chairman carl icahn made the offer order put his own airline into the takeover arena just wondering not just trying get twa into play there speculation the street just wants move onto somthing else said one arbitrager think twa might just putting trial balloon analysts said the offer must taken seriously usair but that the airline will probably reject because the price relatively low compared other airline deals they also said icahn must prove his offer credible revealing financing arrangements they need show their commitment and their ability finance think credible offer said timothy pettee bear stearns analyst think certainly the low end relative values airline deals said pettee pettee estimated dlrs would more reasonable range based other airline mergers usair stock soared after twa made public its offer spokesman for usair declined comment and said usair had not changed its offer for piedmont usair offered buy pct that airline stock for dlrs cash per share and the balance for dlrs per share usair stock usair closed volume mln shares piedmont which slipped close also remained silent the twa action piedmont has outstanding dlr cash per share offer from norfolk southern corp norfolk southern declined comment but said stuck with its offer for piedmont norfolk owns about pct piedmont and opened the bidding when said would propose takeover piedmont some analysts said icahn may trying acquire usair make his own airline more attractive takeover target icahn think had wanted sell his airline and there were takers think the strategy might have called for making his investment more attractive one way accomplish that specific objective out and acquire other airlines said andrew kim eberstadt fleming don know whose going buy them but least this way becomes much more viable package said kim but icahn financing ability for such transaction remains doubt part because twa heavy debt load wall street sources said twa has some cash with which the offer the sources said icahn has not lined outside financial advisers and plans make his own arrangements icahn earlier this year abandoned plans buy usx corp and still retains pct that company stock some wall street sources said the financier usx plan was impacted the cloud hanging over his adviser drexel burnham lambert inc because wall street insider trading scandal industry sources also predicted usair might reject the twa offer price and financing concerns littered with contingencies and doesn even have financing arrangement said one executive another major airline but the executive conceded merged twa usair would strong contender with usair east coast route system and planned west coast presence from psa usair could feed the intenrational flights twa which has midwest presence its louis hub adding piedmont dominant the southeast the mix would develop even stronger force the combined entity would also have twa pars reservation system such merger would complex and analysts said would result airline iwth pct market share reuter 
earn	forest oil corp foil qtr shr loss cts profit eight cts net loss mln profit year shr loss dlrs profit cts net loss mln profit mln reuter 
trade	yeutter plans trade trip china this summer trade representative clayton yeutter said plans july trip china discuss trade issues including china admission the general agreements tariffs and trade yeutter told congressional hearing was possible china could member gatt before the end the year they are making major moves becoming full scale member the world economy told the house appropriations subcommittee which oversees his agency budget depending how the negotiations the terms china gatt membership yeutter said could put the final touches the part the agreement during his trip the admission china gatt which the multinational group nations which negotiates international rules trade would offer both potential export markets and potential competition for industries said that has lot potential well risks for business yeutter said think china will develop into fine market for added reuter 
grain	cabinet council set mull farm issues the reagan administration cabinet level economic policy council scheduled meet friday discuss among other issues the status agricultural legislation administration officials said the officials said discussion agriculture department wheat export subsidy the soviet union was not the agenda matters not the agenda however can brought before the council the officials said grain trade officials have speculated that usda would make wheat export enhancement offer moscow but usda officials have said the matter not under active consideration usda today transmitted congress package legislative proposals including bills that would cut target prices and speed loan rate reductions reuter 
earn	unicorp american corp uac qtr net shr cts cts net revs mln mln mths shr cts dlrs net mln mln revs mln mln note net before preferred dividend payments and includes after tax gain from sale real estate properties mln dlrs reuter 
acq	banner bnr completes rexnord share purchase banner industries inc said completed the previously announced purchase rexnord inc rex said owns pct rexnord outstanding following the purchase all rexnord common validly tendered pursuant its dlr per share cash tender offer ended february banner also said received mln dlrs pursuant credit agreement with citicorp industrial credit inc and the bank nova scotia and mln dlrs from offering made through drexel burnham lambert inc the merger rexnord with subsidiary banner will copmleted before mid may the company said reuter 
earn	ccl industries inc qtr net shr cts cts net revs mln mln year shr cts dlrs net mln mln revs mln mln note shr profit relates class non voting shares reuter 
earn	transcontinental group ltd qtr net shr cts nine cts net mln mln revs mln mln avg shrs mln mln note period ended january reuter reuter 
acq	piedmont aviation recesses meeting without taking action merger proposals 
earn	amvestors financial corp avfc qtr net oper shr profit cts loss cts oper net profit loss revs mln mln year oper shr profit cts loss cts oper net profit loss revs mln mln note qtr and oper net excludes dlrs and dlrs cts per share respectively for realized investment gains qtr and oper net also excludes dlrs and dlrs respectively for tax loss carryforwards qtr and oper net excludes realized investment gains dlrs cts per share and dlrs cts per share respectively qtr oper net also excludes loss dlrs for carryforward reuter 
acq	piedmont pie takes action piedmont aviation inc said its board meeting recessed today without taking action proposals combine piedmont with other corporations piedmont has received opposing bids from norfolk southern corp and air corp earlier today trans world airlines inc offered either buy piedmont suitor air alternatively merge with piedmont and air prepared statement piedmont said there would further announcements concerning this situation today the company declined say when the board would meet again reuter 
trade	yeutter concerned about export picture trade representative clayton yeutter said expects imports fall soon but was concerned about the lack improvement exports given the dollar decline the last months convinced about see improvement the import side more concerned about the export side told house appropriations subcommittee part the blame goes other countries which have not generated the economic growth increase demand for goods and part some companies which are not generating competitive exports said reuter 
trade	house trade bill drafting postponed the house ways and means trade subcommittee postponed until next week its opening session start drafting major changes trade laws committee aide said the subcommittee had not yet completed the preparatory work start writing the legislation the aide said reuter 
earn	lumonics inc year loss oper shr loss cts profit cts oper net loss profit revs mln mln avg shrs note loss excludes extraordinary loss dlrs cts shr including corporate reorganization discontinuing operations and inventory writedown subsidiaries ago loss dlrs cts shr reuter 
earn	hcc industries hcci quarterly dividend qtly div three cts three cts pay march record march reuter 
crude	southland slc unit raises crude prices southland corp citgo petrleum corp said raised the contract price will pay for all grades crude oil one dlr barrel effective today the increase brings citgo posted price for west texas intermediate dlrs bbl west texas sour also now priced dlrs bbl and light louisiana south posted dlrs bbl february citgo lowered its crude postings cts dlrs per bbl and cut wti one dlr reuter 
earn	western security bank qtr net shr profit ten cts loss six cts net profit loss year shr profit cts profit cts net profit profit assets mln mln deposits mln mln loans mln mln reuter 
acq	wtc international waf sets south africa trust wtc international said has sold its affiliates south africa independent trust created continue the operations that country the purchase price was about mln dlrs represented ten year interest bearing note payable annually pct paid the trust out proceeds from the south african operations the company said wtc said its board concluded view the social political and economic situatin south africa was best separate the company from its interests there reuter 
ship	taiwan shipbuilder looks for japanese ventures taiwan state owned china shipbuilding corp csbc plans seek joint production agreements with japan and further diversify into ship repairing try trim its debts chairman louis said told reuters interview that csbc first joint production venture build two hulls for onomichi dockyard ltd was success talks similar projects have been held with other japanese firms including mitsubishi heavy industries ltd mith and ishikawajima harima heavy industries ltd jima said said csbc delivered the hulls two teu twenty foot equivalent unit container ships this year onomichi which would complete production expect the successful cooperation between and onomichi will pave the way for further cooperation with other japanese shipbuilders the future said said japanese firms would gain from the lower cost shipbuilding taiwan while csbc would benefit from japanese technology and marketing this would pose challenge competitors europe and south korea said csbc has made losses about mln dlrs since beginning operations its total debt now stands about mln dlrs with annual interest payments nearly three mln dlrs but said the company which taiwan largest shipbuilder still has full government support and had begun diversifying into ship repairing and manufacture pipes and other machinery hope can survive and prosper through diversification said said income from ship repairing almost doubled mln dlrs the year ended june compared with the previous financial year estimated income would rise more than mln dlrs csbc has orders build ships totalling dead weight tons dwt this financial year compared with ships dwt said said the prospects for shipbuilding were gloomy least until due overtonnage but the outlook for ship repairing was bright reuter 
crude	opec sticking firm official prices subroto opec countries are all sticking firmly official crude oil prices but the volatility spot prices likely continue into the third quarter indonesian minister mines and energy subroto told reuters subroto attending pacific energy cooperation conference blamed recent rapid spot price changes unbalanced supply and demand stick the production limitation the third quarter will better balance said the market period transition while the impact opec december agreement cut output and fix prices average dlrs barrel worked through asked whether opec members the gulf cooperation council gcc had any concrete proposals help qatar sell its crude oil the face strong resistance its official prices subroto said apparently they have taken care that they the gcc meet very often among themselves think they help each other said subroto said that was not member opec price differentials committee did not know why the meeting had been postponed from its scheduled april date maybe they find better not have the meeting because everyone sticking official prices said reuter 
earn	hoechst group pre tax profit falls hoechst hfag said its group pre tax profit would slightly lower than the billion marks posted while parent company pre tax profits rose slightly from the billion group turnover fell slightly billion marks from billion and parent company turnover fell around billion marks from billion the company said statement reuter 
earn	bank expected post pct profit rise the hongkong and shanghai banking corp hkbh likely show rise profit between and pct for reflecting stronger than expected loan growth share analysts polled reuters said their estimates the bank net earnings for last year ranged from billion dlrs results will announced tuesday the net profit was billion they forecast final dividend cents for total cents for the year against cents adjusted for one for five bonus issue analysts said they expected the bank recommend bonus issue this year probably one for three one for five the bank pct subsidiary hang seng bank ltd hsgh report its results friday analysts expect hang seng announce net profit more than one billion dlrs for the first time increase pct they expect hang seng pay final dividend dlrs for total dlrs for the year against analysts said that while the use undisclosed inner reserves banks here makes forecasting very imprecise hongkong bank benefited from the unexpected strength the hong kong economy when gross domestic product grew nearly nine pct against initial forecast pct they benefited considerably from the pickup loan demand their loan portfolio well balanced analyst mansion house securities ltd said government figures show that total loans and advances rose pct compared with pct increase loans finance hong kong visible trade the mainstay the local economy rose pct against decline five pct low interest rates also helped the bank interest received loans was low with the prime rate pct end but interest paid savings was two pct hongkong bank and hang seng bank control half all deposits the banking system giving them access large base low cost funds the strength the real estate market was another major income source for the bank group loans finance property development and instalment mortgages rose sharply the hongkong bank group still the leader mortgage business despite tough competition from the bank china group and other foreign banks one analyst said the high level activity the capital and equities markets contributed sharp improvement hongkong bank subsidiaries wardley ltd waia and james capel and analysts said wardley had tremendous year acting financial adviser and underwriter analyst said wardley was underwriter for last year billion dlr flotation cathay pacific airways ltd which hongkong bank owned pct the time the bank stake has since been cut pct return for billion dlrs also sold its entire pct stake south china morning post ltd the larger two english language daily newspapers here for billion dlrs the proceeds will reserves for acquisitions and will not show the profit and loss accounts analysts said analysts said the bank had also been helped reduced need write off bad debts the need for provisions was much lower than the year before said tony measor hong leong securities ltd last year profits should have been billion dlrs not for the huge provisions former hongkong bank chairman michael sandberg said the bank wrote off hundreds millions dollars against its shipping exposure lesley nickolds county securities asia ltd said she saw major shipping writeoffs she forecast profit billion dlrs the bank latin american exposure mainly through its pct owned marine midland banks inc appears have improved substantially analysts said marine midland fourth quarter loan loss provisions fell mln dlrs from mln year before its net profit rose mln dlrs from mln reuter 
acq	hughes tool directors reject merger with baker the directors hughes tool said they would recommend shareholders that they reject merger with baker international corp bko today hughes vice president ike kerridge said the recommendation would put shareholders meeting scheduled for local time gmt discuss the proposed merger kerridge said the board met yesterday discuss the merger but decided against the hughes board objected department justice requirement that baker sell off several specialised subsidiaries businesses related oil drilling the hughes board last week indicated that might cancel the merger because the department justice requirement the board directors the california based baker had approved the merger february baker said had signed agreement sell one the subsidiaries the companies had been given until april comply with the justice department requirement kerridge said reuter 
earn	canon inc cann year ended decmeber group shr yen net billion yen billion pretax billion yen billion operating billion yen billion sales billion billion note the company attributed the profit fall largely the yen appreciation during the period domestic sales rose pct billion yen from year earlier while exports declined pct billion reuter 
trade	belgolux trade moves into surplus the belgo luxembourg economic union bleu moved into narrow trade surplus billion francs after billion franc deficit figures given spokesman for the national statistics institute show said imports fell last year billion francs from while exports were also lower billion francs against billion december the bleu had billion franc trade surplus after billion franc surplus november and billion franc surplus december reuter 
crude	papua new guinea plans resources investment agency the papua new guinea government will establish public corporation invest resources projects minerals and energy minister john kaputin said intend provide means through which less privileged individuals can become part owners and beneficiaries from the development mining and petroleum projects told parliament existing policy allowing the state pct equity major mining projects and pct oil and gas projects would maintained said the planned agency could take over the state equity current developments kaputin said papua new guinea was experiencing boom with exploration companies spending about mln kina annually about mining and petroleum projects the government determined ensure that papua new guinean ownership minerals and petroleum projects increases orderly way said kaputin did not say when the corporation would established exactly what form would take but said the government would study whether should directly involved exploration development reuter 
money-fx	nigerian currency firms latest auction the nigerian naira firmed pct against the dollar after banks were disqualified from bidding today weekly foreign exchange auction the central bank said the naira finished the dollar against last week only mln dlrs the mln dlrs offer was sold with all bidding banks successfully obtaining hard currency the effective rate including central bank levy for transactions the coming week was against last week the failure sell the whole allocation was due the central bank unprecedented disqualification banks punishment for inadequate documentation previous transactions banks are required submit proof that their bids are based valid commercial transactions and the central bank has complained the past that many are failing produce the right paperwork within the specified time reuter 
trade	tells japan more cut trade surplus undersecretary state for economic affairs allen wallis said had urged japan much more reduce its large trade surplus with the united states our central message japan this week was that while have made progress some areas much needs done told press conference after three days talks what need resolution trade issues need visible efforts restructure the economy encourage more imports and need greater domestic led growth forecasting sluggish economic growth japan this year wallis urged tokyo stimulate domestic demand help reduce its trade surplus which hit record billion dlrs named several areas particular concern washington computer microchips supercomputers kansai airport agricultural products and car telephones warned that the japan agreement governing trade semiconductors was jeopardy despite the pact japanese producers are still dumping microchips foreign markets other than the united states while penetration the japanese market has not increased said reuter 
trade	economic spotlight polish sanctions poland says sanctions have cost its economy billion dlrs and has made clear wants washington take lead repairing the damage after lifting remaining restrictions two weeks ago polish officials are unable provide precise breakdown the figure saying takes into account number hypothetical losses some them are too sophisticated convert into financial terms one banking source said but western economic experts say the effect sanctions impossible calculate they say blurred the poor performance poland economy and dismiss the billion dlr figure illusory sanctions have provided very useful excuse for under achieving they did have bad effect yes but they only contributed largely internal economic problems one said the imposed the measures and withdrew most favoured nation mfn trading status from poland retaliation for suppression the solidarity free trade union under martial law the estimated cost the polish economy was originally devised several years ago the institute national economy offshoot the central planning commission according one western envoy expert polish economic affairs extrapolated information growth trends trade with the united states well increases credits from western commercial and government lenders but the calculations were based time when trade was booming and credits still flowed freely said dismissing the estimate theoretical projection based high point which has real scientific evaluation foreign trade ministry official said polish exports the the late averaged around mln dlrs annually and had fallen half since the sanctions were imposed imports have suffered slumping from around mln dlrs mln credits ran out poland has dwindling trade surplus with the west last year was one billion dlrs against targeted billion official figures show acknowledging that sanctions have lost poland important markets including agricultural equipment textiles chemicals and some foodstuffs western economists say credits dried for economic not political reasons poland accusing the west letting economic relations deteriorate for political reasons said one expert illusion based misunderstanding western economy there limit how much you can giving someone who has hope repaying another said adding that poland had benefited from global phenomenon easy credits the which were longer today reality describing the billion dlr assessment nebulous one diplomat said also included losses hypothetical orders and setbacks polish research through the curbing scientific links and exchanges western officials say the lifting sanctions and new mfn status will have little impact poland which has hard currency debt billion dlrs and lacks the means modernise its industry mfn doesn really mean anything only that poland will not treated worse than other countries will difficult regain access the market because different forces are play now said one western envoy said polish products were not competitive and their quality was too low trade wars and possible protectionist measures amongst the japan and europe would also hamper poland efforts regain entry deputy foreign trade minister janusz kaczurba recognised this fact recently kaczurba told the official pap news agency recently making our lost position will take long time and uncommonly difficult and certain cases impossible period two three years will possible increase the level exports only about mln dlrs while poland unlikely seek compensation says has moral right assistance from the which says imposed the sanctions illegally but western economist said the argument that sanctions were unilateral torpedoing the polish economy won cut any ice the americans will just reply that the poles acted immorally crushing solidarity nevertheless polish national bank head wladyslaw baka talks washington last week with the international monetary fund imf and world bank made clear that poland was looking for lead from the united states was quoted pap saying that poland would meet its financial obligations the united states but not short time and not without cooperative stand the part its foreign economic partners stressed that the had particular opportunity play part the cooperative policy poland partners interested the settlement polish debt putting more sharply one senior banking official blamed washington for obstructing talks with the world bank imf and paris club western creditor governments recent years and said should now play more positive role major superpower the united states can influence international organisations said citing recent meetings aimed stabilising currencies example the extent which western nations were prepared cooperate reuter 
interest	bundesbank leaves credit policies unchanged the bundesbank left credit policies unchanged after today regular meeting its council spokesman said answer enquiries the west german discount rate remains pct and the lombard emergency financing rate pct reuter 
money-fx	egyptian central bank dollar rate unchanged egypt central bank today set the dollar rate for commercial banks for march 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 the first few days march was running about mln bpd down from mln bpd average for february and well below the mln bpd ceiling the group adopted december reuter survey shows the figures were polled reuters correspondents from oil traders industry executives and analysts europe the middle east africa latin america and asia they back recent statements opec ministers that the group producing within its ceiling support the return fixed price system which came into effect last month opec output for the whole february was about bpd above the ceiling largely because overproduction the united arab emirates and kuwait the figures show the uae together with the much smaller producer ecuador was also producing above quota the first days march the survey reveals but such overproduction was compensated for sharp fall saudi arabian output together with iran inability export much its quota allows iraq rejected its opec quota mln bpd and produced mln bpd february and early march the figures showed saudi output excluding movements into stocks fell mln bpd early march from mln bpd february against mln bpd quota the saudi figures include bpd share neutral zone production kuwait which has consistently denied quota violations was estimated pumping mln bpd february and early march both figures including bpd its share neutral zone output against its bpd quota reports customer resistance fixed prices set some opec states were reflected output from qatar and nigeria both substantially under quota february and early march qatar february output was bpd and this fell bpd early march compared with its bpd quota industry sources say japanese buyers are resisting qatar prices and gulf arab oil states have pledged make for any shortfall sales which fellow gulf state suffers nigeria early march output was about one mln bpd down from mln bpd february and its quota mln bpd industry sources say nigeria customers believe its bonny grades are overpriced compared with compatible brent crudes from the north sea country country production figures are follows 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 force hughes merger baker international corp said has filed suit state court houston compel hughes tool complete its proposed merger with baker late yesterday hughes said had terminated the merger agreement because baker would not agree alternative divestiture plan devised hughes hughes board had previously found unacceptable justice department consent decree that would have required broader divestitures baker said has not obtained any satisfactory explanation from hughes its objections the provisions the justice department consent decree hughes yesterday adjourned the special meeting which shareholders were vote the merger without permitting the counting votes the deal baker said believes the vote was overwhelmingly favor the merger baker said the new terms that hughes proposed for the merger alternative the consent decree were more burdensome than those the consent decree themselves baker said divestitures under the consent decree would reduce revenues for the combined company about mln dlrs three pct baker said will continue pursue the divestitures the units named the consent decree said its suit names defendants hughes and certain its directors and seeks either injunction forcing hughes live the merger agreement substantial monetary damages did not name baker said believes the merger the best interests shareholders both companies reuter 
interest	spain deregulates bank deposit interest rates spain finance ministry deregulated bank deposit rates effort raise competition among banks and bring legislation into line with the european community ministry spokesman said the measure was published today the official state gazette takes effect tomorrow and lifts restrictions rates now limited six pct deposits days the government also enacted decree cutting one pct from pct the proportion total assets which banks must lend favourable rates industries classified public interest some bankers expect the deregulation rates result pct drop profits this year secretary state for the economy guillermo dehesa told reuters recent interview the reduction fixed asset investments would offset losses from the rate liberalisation reuter 
acq	usair rejects twa twa takeover bid usair group inc said its board has rejected trans world airlines inc offer acquire usair for dlrs per share cash grossly adequate and not the best interests usair shareholders employees passengers the company said the unsolicited bid the carl icahn led twa was highly conditional usair said its board and that piedmont aviation inc pie met separately yesterday consider usair offer acquire pct piedmont for dlrs per share and remaining shares for common shares each valued about dlrs per share based the average closing price usair common during period just before the merger the company said continuing talks with piedmont arriving definitive merger agreement and the two companies hope reach one very shortly usair said light the highly conditional nature and other terms the twa offer the timing the offer and the circumstances under which was made usair group believes that the purpose the twa offer interfere with usair group proposed acquisition piedmont twa proposal nothing more than attempt carl icahn disrupt the eleventh hour usair group acquisition piedmont transaction which the usair group board views most beneficial usair group shareholders employees and passengers and which icahn obviously regards contrary his own personal interests usair said its board has authorized counsel explore all appropriate legal remedies against what called twa last minute attempt interfere with usair group acquisition piedmont the company said conditions the twa offer include twa obtaining financing the usair board redeeming defensive rights issued shareholders last year and acting render the fair price provision contained usair charter inapplicable the twa offer and transportation department approval reuter 
earn	jaguar sees strong growth new model sales jaguar plc jagr about sell its new model the and japanese markets and expects strong reception based its success the chairman sir john egan told news conference commenting pct growth group turnover mln stg and pre tax profits mln stg slightly below mln egan said jaguar aimed average profit growth pct per year however the introduction the new model had kept this year pre tax profit down jaguar starts selling the may and plans sell its total production there sales now account for pct total turnover finance director john edwards said price for the car has not been set yet but edwards said the relatively high car prices dollars west german competitors offered umbrella for jaguar added the had also compete with luxury car producers which would restrict the car price jaguar hedges majority its dollar receipts month rolling basis and plans for larger part its receipts for longer periods john egan said the longer term capital expenditure will amount pct net sales research and development will cost four pct net sales and training two pct jaguar builds half its cars and buys components for the other half the firm early stages considering the building own press shop britain for about mln stg but egan said this would take least another three years the london stock exchange jaguar shares were last quoted down from yesterday close after reporting results which were 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 qtr net shr cts cts net revs mln avg shrs mln mln year shr cts cts net mln revs mln mln avg shrs mln mln note shr figures adjusted for for split paid feb reuter 
acq	five groups apply buy french telephone group five consortia have applied buy the french state owned telephone equipment manufacturer cie generale constructions telephoniques cgct which will give the owners control pct the french telephone switching market sources close finance minister edouard balladur said the french government has given itself until the end april decide which applicant will accepted they added while several foreign groups have said they want gain foothold the french market their potential stake cgct limited pct under privatisation laws passed last year with pct left french hands the finance ministry sources gave details the groups interested cgct but several have publicly announced their candidacies telecommunications giant american telephone and telegraph which has been the centre the two year battle for cgct has teamed with the dutch based philips telecommunications industrie subsidiary philips gloeilampenfabriek pglo and societe anonyme telecommunications sat present joint bid association with holding company cie midi mcdp and five french investment funds second bid has come from the west german electronics group siemens sieg which hopes take pct stake cgct with the french telecommunications jeumont schneider taking the remaining pct sweden ericsson has also submitted bid for the maximum pct permitted association with french defence electronics group matra which would hold between and pct and construction group bouygues matra has already acquired cgct private telephone business reuter 
ship	blizzard closes bosphorus blizzard conditions halted shipping through the bosphorus waterway and piled snow cms deep central istanbul paralysing the city for the second day running snow whipped kph winds continued fall istanbul and northwest anatolia after hours and weather reports predicted relief for another two days port officials said least six large vessels the black sea and the sea marmara were waiting for conditions improve istanbul ataturk international airport has been closed since yesterday reuter 
acq	japan fund jpn seekers confident financing the sterling grace capital management group said confident financing can arranged the japan fund board recommend the group acquisition proposal the group which also includes anglo american security fund and pickens iii tuesday proposed entity controls acquire for cash all the assets japan fund for pct the fund aggregate net asset value the group said has had number meetings over the past few days with domestic and overseas financial institutions the sterling grace capital group said certain these institutions have expressed serious interest providing financing for the proposed acquisition japan fund adding are reasonably confident that the financing can quickly arranged the japan fund board directors willing recommend the transaction shareholders reuter 
earn	pegasus gold inc pgulf qtr dec net shr profit cts loss two cts net profit loss revs nine mths shr profit cts loss cts net profit loss revs mln mln reuter 
earn	keltic inc year net shr cts dlrs net revs note shr after november class subordinate floating share issue reuter 
acq	hutton efh starts purolator pcc bid hutton group inc said has started its previously announced offer purchase common shares purolator courier corp dlrs each newspaper advertisement the company said the offer proration period and withdrfawal rights will expire april one unless extended the offer conditioned receipt least purolator shares pct interest and the first step merger agreement that has been approved the purolator board hutton said reserves the right buy more than shares but has present intention doing said may waive the condition that least shares tendered long received least pct interest were receive fewer shares than that said would only purchase sharesd with the consent purolator reuter 
money-fx	yeutter puts currency burden taiwan korea responsibility for the appreciation the taiwan dollar and the south korean won lies soley with those countries said trade representative clayton yeutter speaking the asia society yeutter said that those countries own long term interest raise the value their currencies against the dollar yeutter was responding question about what the could encourage appreciation those currencies against the dollar order reduce the large trade deficits with taiwain and korea undervalued currency will help those countries exports the short term but the long run they have concerned about how they are perceived the international business community yeutter said for taiwan yeutter said that with its per capita trade surplus with the much larger than that japan and with huge foreign exchange reserves was difficult defend the high import tarrifs and other barriers that prevail that country also said that the south korean won should begin move reflect underlying economic fundamentals otherwise two three years time korea will the same situation that prevails taiwan turning the deficit with japan more than billion dlrs yeutter said that this situation was not sustainable something must give soon not there great threat legislative action counteract that trend yeutter said reuter 
earn	princeville development corp pvdc year loss shr diluted loss cts profit cts net loss profit revs mln mln avg shrs diluted note current year includes loss mln dlrs from takeover defense expenses also includes losses mln dlrs dlrs from equity limited partnerships reuter 
acq	orange holder raises stake orange inc said its largest shareholder summit resoureces inc has increased its stake pct from pct and now owns shares reuter 
earn	horizon corp hzn qtr net oper shr profit dlrs loss eight cts oper net profit mln loss revs mln year oper shr profit dlrs loss cts oper net profit loss revs mln mln avg shrs note net includes tax credits dlrs quarter and dlrs year net both periods excludes dlr loss from discontinued operations net both periods includes pretax gain mln dlrs from sale remaining interest paradise hills development reuter 
earn	international thomson organisation ltd year shr net mln mln revs billion billion note figures sterling share results after deducting preferred share dividends one mln pounds sterling reuter 
earn	equatorial communications equa qtr loss shr loss dlrs nil net loss profit rev mln mln year shr loss dlrs profit cts net loss profit rev mln mln avg shares note fourth qtr net includes one time restructuring charge mln dlrs net income includes extraordinary gain mln dlrs cts reuter 
earn	international thomson organisation ltd year shr 
acq	trimedyne tmed spin off stake unit trimedyne inc said will distribute one class common share automedix sciences inc for each four trimedyne shares held record march nine the company said the spinoff distributing its entire pct interesdt automedix the spun off stock will not saleable for months the company said reuter 
earn	casey general stores inc casy qtr jan shr cts cts net sales mln mln nine mths shr cts cts net sales mln mln reuter 
crude	diamond shamrock dia raises crude oil postings diamond shamrock said raised its posted prices for all grades crude oil one dlr barrel effective yesterday the one dlr increase brings west texas intermediate wti the benchmark crude dlrs bbl the company said diamond shamrock joined sun coastal citgo and murphy oil raising crude oil posted prices one dlr barrel yesterday reuter 
earn	oak hill sportswear corp ohsc qtr net shr cts cts net sales mln mln year shr cts cts net sales mln mln avg shrs reuter 
earn	oak industries inc oak qtr loss oper shr loss five cts loss cts oper net loss loss sales mln mln avg shr mln mln year oper shr loss cts loss dlrs oper net loss mln mln sales mln mln avg shrs mln mln backlog mln mln notes operating losses exclude profits from discontinued operationgs dlrs one cent share dlrs eight cts share quarter and mln dlrs dlrs share mln dlrs cts share year year operating loss also excludes extraordinary gain mln dlrs cts share backlog which includes only orders shipped within mths was mln dlrs january orders shipped beyond mths were mln dlrs mln dlrs december reuter 
earn	regis corp rgis regular dividend set qtly div cts cts prior pay april record march reuter 
acq	mannesmann seeks stake firm mannesmann mmwg the diversified engineering and pipe making group interested taking stake company companies but has not yet found suitable firm spokesman said reply questions mannesmann managing board chairman werner dieter told the business weekly wirtschaftswoche interview that mannesmann wanted invest company order strengthen its presence the market dieter said mannesmann would act quickly when and found firm which wanted take stake the mannesmann spokesman declined say which industrial sector the group may make acquisition how big the acquisition might also said the group had not yet completed taking over stake car components firm fichtel und sachs mannesmann had said january hoped take pct stake fichtel und sachs holding company sachs the first quarter the spokesman said mannesmann had letter intent the takeover from the heirs the company late owner but completion has been delayed legal questions concerning the inheritance reuter 
earn	american int group inc aig qtr net shr dlrs cts net mln mln year shr dlrs dlrs net mln mln note includes gains mln mln year and mln mln from capital gains from investments reuter 
earn	systems for health care one for split systems for health care inc said repositioned the company through one for reverse stock split said there are now common shares outstanding with quoted price about bid compared shares outstanding prior the split another recent development systems for health care formally changed its name its present form from orcas corp reuter 
interest	bankers welcome spanish reserve requirement hike bankers welcomed the bank spain decision raise the reserve requirement for banks and savings banks saying reflected the socialist government determination not ease the fight against inflation despite the painful social effects four years austerity the central bank last night raised the requirement one percentage point pct from march saying that excess liquidity threatened money supply and inflation targets bankers said the move represented change tactic the bank which until now has relied raising interest rates choke off money supply growth think good measure senior foreign banker said faster way get the job done than using interest rates and avoids unpleasant effects other areas the economy shows that the political will very strong they know that controlling inflation will make industry more competitive and bring down unemployment the long run added the head another foreign bank said that only month ago the bank spain had dismissed his suggestion rise reserve requirements preferring pursue its strategy raising interest rates but bankers said the high real interest rates 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 competitiveness also being hit hard inflation pct last year the rate was way above that spain major trading partners the european community which joined year ago help meet this year target five pct insisting pay rises stay that level setting the stage for clashes with trade unions who say they have made enough sacrifices demonstrations workers students and farmers whose demands essentially involve more government spending have become almost daily occurrence but prime minister felipe gonzalez insists that the state doing much can bankers said the reserve requirement increase could have some impact commercial lending rates but should not hit the money market too hard the bank spain which only yesterday raised its key overnight call money rate pct left unchanged today auction the rate has been increased nine times since the start the year when was below pct bankers said commercial lending rates were set rise any case with the end the six pct maximium interest rate banks can offer for time deposits six months the measure will take effect tomorrow following the publication the decree today official gazette bankers say the liberalisation will increase the cost funds and inevitably push lending rates higher companion measure reducing the proportion funds which banks must invest specific areas also takes effect tomorrow officials said when the cut was approved last month that was aimed partly compensating banks for higher interest rates reuter 
earn	gambro gamb year mln crowns mln sales billion billion proposed dividend crowns crowns reuter 
acq	transportation agency gives final okay for air pacific southwest acquisition 
earn	american software amswa sets stock split american software inc said its board declared three for two stock split class and class common shares payable march record march the company said expects increase its semiannual dividend pct six cts per share post split from eight cts pre split reuter 
acq	comdata cdn merger agreement comdata network inc said has entered into letter intent with limited partnership managed welsh carson anderson and stowe wcas merge comdata into corproration formed wcas comdata said the merger each share the company stock would converted the holders election into either dlrs cash combination dlrs cash and unit securities including common stock comdata said the terms are subject the condition that wcas affiliate investors would own minimum pct the fully diluted stock the new entity comdata said wcas and its affiliate investors would commit mln dlrs buy the securities comprising the new entities units securities resulting from the merger the same proportions and the same price the company shareholders comdata said the move subject execution definitive agreement and approval comdata shareholders well obtaining mln dlrs debt financing wcas told comdata believes that can get commitments for this financing reuter 
earn	wajax ltd year net shr cts dlrs net mln mln revs mln mln reuter 
earn	american software inc amswa qtr jan net shr cts cts net revs mln avg shrs nine mths shr cts cts net revs mln mln avg shrs reuter 
acq	bankamerica bac sell german banking unit bankamerica corp said agreed sell bankhaus centrale credit its german consumer banking subsidiary and german credit card operations banco santander spain terms were not disclosed the deal expected close the second quarter the bank holding company said bankhaus centrale credit with branches had total assets mln marks year end the credit card operation services visa card holders and merchants germany said reached later bankamerica spokesman said the company would record pretax gain mln dlrs from the transactions the spokesman declined however disclose the price paid for the operations banco santander other terms the deal reuter 
earn	copley properties inc cop qtr net shr cts cts net revs year shr dlrs cts net revs note company began operations after its july public offering therefore annual data are not directly comparable reuter 
earn	unitil corp utl qtr net shr cts cts net revs mln mln year shr dlrs dlrs net revs mln mln reuter 
acq	ryder rdr buys british caledonian unit ryder system inc said 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 boliden swedish tyres process equipment and components firm trelleborg said was taking larger stake mining and metals concern boliden blds than had originally intended trelleborg had previously announced was exercising option acquire pct boliden voting rights statement the company said they had received offers pct the rights and that they would accept all reuter 
earn	polaroid prd reaffirmed opinion shares polaroid corp rose following reiterated recommendation merrill lynch and that focused strong earnings momentum for the company traders said have been recommending the stock since was the but reiterated today because expectations strong earnings momentum its benefits from the lower dollar and anticipation nice gains margins merrill lynch analyst charles ryan said said negative opinion another brokerage house hurt the stock wednesday and can bought relatively bargain price today ryan said you always have look polaroid its weakness its volatile stock that has caught weakness polaroid stock which gained more than point early this morning was trading was down over three points wednesday morning before closing down polaroid working overtime production cameras and film expect first quarter earnings about pct ryan said estimating earnings cts share the first quarter compared cts share earned year earlier expects the company earn four dlrs share compared dlrs share last year reuter 
earn	swedish match smbs year profit after net financial items mln crowns mln sales billion crowns billion proposed dividend crowns crowns reuter 
earn	industries inc qtr jan net oper shr cts cts oper net revs mln mln six mths oper shr cts cts oper net revs mln mln note exlcudes discontinued operations for oper net for six mths for sale electronics division oper shr for qtr and six mths adjusted for stock split and dividend distribution november reuter 
acq	general refractories grx sell operations general refractories said agreed sell its european refractories and building products operations for about mln dlrs austrian investor group the european operations had sales mln dlrs the last year for which results have been released the company said the sale group headed girozentrale bank austria subject shareholder approval april said its board has approved the deal said general refractories mineral operations are not affected reuter 
earn	pepsico pep upgraded kidder peabody kidder peabody and analyst roy burry issued strong buy recommendation pepsico inc citing improved profit outlook for both domestic soft drinks and frito lay snack foods pepsico climbed shares midmorning burry forecast earnings dlrs per share and dlrs the company earned dlrs per share burry previously had sell recommendation pepsico looking pct earnings growth for frito lay trend that should continue through the decade reuter 
acq	shad sees progress insider trading securities and exchange commission chairman john shad said progress was being made stopping insider trading but the chairman house subcommittee with jurisdiction over securities laws said was concerned about conditions wall street greed has created feeding frenzy wall street and the process laws are broken and multi billion dlr corporations have become easy prey rep edward markey mass the chairman the telecommunications and finance said the start hearing sec activities congress understandably nervous perceive the current scandals warning even worse things come markey said the frenzy and disruption created merger mania particularly distressing shad said the recent cases involving ivan boesky dennis levine and others was warning that those who engage insider trading were taking heavy risk imprisonment high fines and disbarment from the securities industry insider trading has not been eradicated but has been inhibited and multimillions dollars profits that boesky and others have been siphoning off the markets are now flowing through legitimate investors and traders shad said his statement shad said insider trading cases involved only pct less sec enforcement actions recent years but they have increased significantly cases brought during the past five years compared cases the preceeding years markey said did not favor banning takeovers but thought the tender offer process needed reform including earlier disclosure takeover attempts rep mathew rinaldo the senior subcommittee republican said was introducing legislation create five member commission study the securities industry for year and report its findings and recommendations congress commission members would appointed the sec its primary mission would analyze the extent illegal trading insider trading and assess the adequacy existing surveillance systems and government oversight operations the commission would advise congress what additional resources civil criminal remedies are needed combat fraud and improve compliance with federal laws rinaldo said reuter 
crude	opec says february output under ceiling opec output february was well below the mln bpd ceiling set december and all countries are strictly adhering their quotas the opec news agency opecna quoted opec secretariat official saying the official was quoted saying that lower output was the result member countries firm determination defend the organisation official price dlrs per barrel and refrain from selling any quantity below that price the unnamed official was further quoted saying that opec meeting was foreseen before the next biannual opec session planned start june the official gave figure for february output the statement said only that the reduction total supplies namely actual exports crude oil and products plus local deliveries member countries even more pronounced those supplies fell very noticeably during that month matter what the pressure member countries lifters align the official selling price the ongoing market price member countries are without exception strictly adhering the official selling price spite the financial hardship this may entail the statement said the very recent improvement the price structure indicator such determination the organization stick the official selling price the statement said free spot market prices rose from around dlrs barrel early december last year near opec official levels towards the end the year after the opec pact there has been oil industry speculation that opec might have hold extraordinrary meeting prior its scheduled june session discuss reports overproduction some states and strains the differential matrix which prices each opec crude according its quality and distance from main markets the official said the statement that such emergency session was scheduled because member countries firm determination defend the price system agreed december opec differential committee was have met vienna starting april but this session has been postponed with new date set according official 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 commerce qtr share basic cts cts 
acq	perkin elmer pkn acquires high tech firm perkin elmer corp said acquired atomika technische physik based munich west germany high technology concern specializing surface science instruments terms the acquisition were not disclosed said atomika will became part its physical electronics division based eden prairie minn the division part its materials surface technology group reuter 
acq	okays usair pacific southwest purchase the department transportation said gave final approval usair group proposed mln dlr acquisition pacific southwest airlines the department said the acquisition not likely substantially lessen competition and would not harm the public interest the department had given its tentative approval the acquisition january the department said decided make final its tentative decision after reviewing the public response the agency said rejected assertion air north america which currently not operating but plans start service some the cities served usair and psa that the acquisition would lessen chances new entry into those markets other carriers the agency said air north america provided support for its claim that the transaction would give the two carriers monopoly power some markets the transportation agency said air north america also failed show that there are barriers that would prevent new entrants into those markets prevent other carriers from increasing their service the agency noted its final order that psa operates exclusively 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 common los angeles san diego san francico phoenix and tucsonm the agency said the transportation department also rejected request the teamsters union which represents some psa workers require protections for psa workers the agency noted that usair has promised give protective benefits 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 expects mci financial performance improve the current quarter compared the previous quarter said american telephone and telegraph long distance rate cuts had cut into mci fourth quarter performance but added there going continuing impact profits but expect this quarter better than the fourth quarter the current quarter ends march for the fourth quarter mci reported mln dlr loss due mainly write offs and staff reductions roberts said the att long distance rate reductions which had been ordered the federal communications commission have had significantly negative impact our profits reported earlier today mci said plans ask the fcc immediately deregulate att apparently hopes that unregulated att would pocket greater proportion its revenues rather than cut rates further reuter 
earn	national gypsum qtr net net revs mln mln year net mln revs billion billion note current year includes earnings mln dlrs for the four months ended april year ago earnings not comparable because acquisition aancor holdings inc april reuter 
earn	zayre corp qtr shr cts cts 
earn	det oestasiatiske kompagni east asiatic results for year group pre tax profit mln crowns mln net turnover billion crowns billion dividend eight pct nil group profit after tax mln crowns mln reuter 
earn	signtech inc nine mths jan net shr cts cts net mln revs mln mln reuter 
earn	canadian imperial bank commerce qtr period ended january shr cts cts shr diluted cts cts net mln mln loans billion billion deposits billion billion assets billion billion note shr after preferred dividends reuter 
acq	triumph capital inc make acquisition triumph capital inc said has signed letter intent acquire first securities transfer systems inc pompano beach fla for undisclosed terms the company said also entering the commercial finance business through the formation triumph financial corp said the new wholly owned unit has extended dlr secured line credit micro designs inc reuter 
earn	conchemco inc ckc sets quarterly qtly div cts cts prior pay april six record march reuter 
earn	dst systems inc dsts regular payout set qtly div five cts five cts prior pay april record march reuter 
interest	fed not expected take money market action the federal reserve not expected intervene the government securities market add drain reserves economists said most economists said they did not expect the fed add reserves with federal funds trading below six pct they said the funds rate softer tone may indicate that the need add reserves the current bank reserve maintenance period smaller than previously estimated fed funds opened pct and remained that level yesterday funds averaged pct reuter 
earn	brown group inc qtr shr cts cts 
acq	regal international rgl ups bell bpsiq bid bell petroleum services inc said regal international inc has doubled its offer for bell stock one regal share for each bell share from half share previously the company said seriously considering the new offer but has also received expression interest for possible merger into fortune company did not identify that will investigated meetings held later this week said will explore all possibilities before recommending final course action reuter 
earn	eqk green acres ega raises quarterly qtly div cts cts prior pay aug record june reuter 
earn	mercantile stores inc qtr shr dlrs dlrs 
earn	winland electronics inc qtr loss shr loss one profit cts net loss profit revs year shr loss seven cts loss one net loss loss revs reuter 
earn	national convenience ncs have qtr loss national convenience stores inc said expects report loss for the third quarter ending march due continued poor sales texas especially houston last year third quarter national convenience earned dlrs eight cts per share including gain dlrs from the sale stores another operator said the results also included earnings from gasoline operations dlrs cts per share caused unusually high gross margins gasoline sales cts per gallon that were caused rapidly falling oil prices national convenience said its third quarter usually weak due winter weather reuter 
crude	marathon raises crude posted prices cts bbl effective today wti dlrs bbl 
crude	report due oil imports and national security presidential commission that has been studying oil imports including their effect national security make its report soon the white house said spokesman marlin fitzwater said the panel set last october examine oil import needs would make its report soon probably within the next few weeks said national security adviser frank carlucci will wait until that report and then see there any special action needed taken the national security area implement reuter 
earn	chrysler sets three for two stock split raises dividend 
earn	brown group inc qtr jan net shr cts cts net sales mln mln avg shrs year shr dlrs dlrs net revs billion billion avg shrs note period ended february one company changed fiscal yearend january from october results were restated reflect the change reuter 
earn	pegasus gold inc pgulf qtr net shr profit cts loss two cts net profit loss revs mln year shr profit cts loss cts net profit loss revs mln mln note current qtr includes gain mln dlrs from tax benefit reuter 
earn	zayre corp qtr jan net shr cts cts net rev billion billion year shr dlrs dlrs net rev billion billion note qtr net includes pre tax gain mln dlrs from sale real estate and real estate development company fiscal net includes extraordinary charge mln dlrs six cts share all per share data reflects two for one stock split paid june reuter 
earn	zayre plans more store openings zayre corp said plans open additional zayre stores new maxx stores and hit miss shops addition zayre said plans add six new wholesale clubs and eight new homeclubs its warehouse group earlier the company reported earnings ended january mln dlrs dlrs per share versus mln dlrs dlrs per share fiscal also reported fourth quarter net mln dlrs cts share versus mln dlrs cts share fourth quarter reuter 
earn	chrysler sets stock split higher dividend chrysler corp said its board declared three for two stock split the form pct stock dividend and raised the quarterly dividend seven pct the company said the dividend was raised cts share from cts pre split basis equal dividend post split basis chrysler said the stock dividend payable april holders record march while the cash dividend payable april holders record march said cash will paid lieu fractional shares with the split chrysler said mln shares remain purchased its stock repurchase program that began late that program now has target mln shares with the latest stock split chrysler said statement the actions reflect not only our outstanding performance over the past few years but also our optimism about the company future reuter 
acq	banco santander buy west germany bank banco santander signed letter intent with bank america bac purchase its west german affiliate bankhaus centrale credit bank the bank said statement amplifying earlier report from frankfurt the incorporation bank our group will provide major boost for chanelling investment between spain and the european community the statement said this operation enables take solid position west germany ahead spain full integration into the financial system five years time the deal included the license for visa credit cards reuter 
earn	canadian imperial sees lower loan losses canadian imperial bank commerce earlier reporting higher net income for the first quarter ended january said expects loan losses lower than last year mln dlrs however the bank said will maintain the high level provisioning for loan losses established last year because many market uncertainties commerce bank set loan loss provisions mln dlrs fiscal ended october the bank earlier said first quarter net income rose mln dlrs from mln dlrs the prior year profit per basic share after dividends fell cts from year ago cts commerce bank said because market uncertainties used estimate mln dlrs for fiscal loan losses calculating first quarter results the bank first quarter provision for loan losses rose mln dlrs from mln dlrs the prior year commerce bank also said will continue adopt agressive posture adding its general provisions against loan exposure countries designated the federal government inspector general banks first quarter net partly benefitted from net interest income mln dlrs from year ago mln dlrs commerce bank said improved other income which rose mln dlrs from year earlier mln dlrs and net income was partially offset the increased loan loss provisions non interest expenses and income taxes the bank said first quarter total assets increased billion dlrs from mln dlrs the prior year due mainly continued expansion consumer loan and mortgage fields return assets increased two cts cts per dlrs average assets from the first quarter fiscal but declined two cts from fiscal fourth quarter the bank also said total non accrual loans increased billion dlrs the first quarter from year ago billion dlrs however non accrual loans declined mln dlrs from fiscal year end despite the recent announcement the suspension interest payments brazil virtually all the bank loans this country were income producing january and there was little adverse impact the bank earnings prior the announcement commerce bank said the bank did not disclose forecast the impact future earnings brazil suspension interest payments reuter 
earn	mercantile stores inc mst qtr net qtr ends jan shr dlrs dlrs net mln mln revs mln mln mths shr dlrs dlrs net mln mln revs billion billion 
acq	unitel video shareholder proposes possible sale liquidation company 
earn	allegheny power system inc ayp sets payout qtly div cts cts prior pay march record march reuter 
earn	selkirk communications ltd qtr net oper shr cts cts oper net revs mln mln year oper shr dlrs dlrs oper net revs mln mln note current oper net excludes extraordinary income dlrs qtr and dlrs year previous losses dlrs and dlrs respectively reuter 
earn	houston oil royalty trust rth payout lower mthly div cts 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 liquidation michael landes major stockholder unitel video inc said has asked the company consider liquidating selling some all its assets landes has requested the company implement program maximize shareholder values which might include sale all part the company liquidation said filing with the securities and exchange commission landes and another unitel video investor albert schwatz have formed shareholder group and together hold common shares pct the total outstanding common stock landes and schwartz had reached agreement principle with the new york video tape service company dlr share takeover proposal last september but subsequent merger talks broke down october the investors told the sec they are continuing review their positions company and may acquire more shares sell some all their current stake reuter 
acq	huges tool company says baker international merger plan not terminated 
earn	royal dutch shell group cos qtr net shr royal dutch petroleum dlrs dlrs final royal dutch dividend guilders for total guilders guilders for shr shell transport and trading plc dlrs dlrs final shell transport dividend pence for total pence pence for group net billion billion group sales billion billion year shr royal dutch dlrs dlrs net shell transport dlrs dlrs group net billion billion group sales billion billion notes group pct owned royal dutch and pct shell transport dollar amount royal dutch dividend will depend guilder dollar exchange rate may final dividend payable june holders record may shell transport dividend and per share results based new york shares which are equal four ordinary shares dollar final dividend will determined sterling dollar exchange rate may current rate with tax credits equal dlrs final dividend payable may holders record april fourth quarter dollar figures for group translated from sterling average rate exchange for the quarter which was dlrs per pound and dlrs full year dollar figures are sum sterling translations dollars for first second third and fourth quarters net includes fifo inventory gain mln dlrs loss mln dlrs quarter and loss billion dlrs loss mln dlrs year lifo accounting had been used company said royal dutch per share net would have been dlrs dlrs quarter and dlrs dlrs year shell transport per share net would have been dlrs dlrs quarter and dlrs dlrs year net includes restructuring credit mln dlrs charge mln dlrs quarter and credit mln dlrs charge mln per share impact restructuring royal dutch was credit cts charge cts quarter and credit cts charge dlrs year shell transport was credit cts charge cts quarter and credit nine cts charge cts year net also includes currency exchange losses mln dlrs mln dlrs quarter and mln dlrs mln dlrs year exchange losses had per share impact royal dutch cts cts quarter and cts dlrs year and shell transport eight cts cts quarter and cts cts year reuter 
acq	investment firm boosts purolator pcc stake halcyon investments new york investment partnership that deals mainly risk arbitrage and stock trading said raised its purolator courier corp stake shares pct from pct filing with the securities and exchange commission halcyon whose managing partner alan slifka and said bought purolator common shares between feb and march prices ranging from dlrs each halcyon which said has spent mln dlrs for its purolator common shares said also acquired options feb giving the right buy shares for mln dlrs reuter 
acq	aetna aet sell canadian operations aetna life and casualty said its aetna life and casualty canada ltd subsidiary has agreed prnciple sell its casualty property subsidiary aetna casualty canada laurentian group montreal for undisclosed terms the company said the agreement subject canadian government approval reuter 
earn	southern mineral corp smin qtr loss shr loss two cts profit three cts net loss profit revs year shr profit eight cts profit cts net profit profit revs note per share figures adjusted for four for three stock distribution effective dec results include extraordinary tax benefit dlrs one share each period reuter 
interest	bank england resists pressure for rate cut the bank england again fought against money and bond market pressure for pre budget interest rate cut leaving the pound take the strain with further rise its trade weighted index six month high closed its best level since september pct its value the index foreign investors continued buy into currency which offers high relative returns and the possibility short term capital gains dealers said meanwhile opinion divided over whether the bank can stop cut before budget day march and why should want the bank latest strong signal the market that wants rates stay steady for the moment came midafternoon when lent the discount houses penal rate pct relieve money market shortage they really making the discount houses suffer said stephen lewis economist brokerage house phillips and drew eleven and three quarters pct way above money market rates this money market signal was apparently not accompanied any sterling sales the foreign exchanges talk which had inhibited strong rises yesterday and tuesday buyers came strongly into the pound the pound surged high dlrs the london close from the previous finish and marks from this pressure keeps there possibility that rates could drop before the budget said jeremy hale economist finance house goldman sachs international corp some gilt traders are forecasting half point cut the base rate from the current pct early tomorrow however analysts said the bank england will need convinced that the present rise fundamental rating rather than result short term speculative gains there are valid reasons for the bank cautious said peter fellner economist brokers james capel and markets have become highly optimistic about the chances conservative party victory any early general election and disappointment prime minister margaret thatcher decides hold back could lead decline the pound and setback for bonds fellner said election could delayed until mid but most forecasts say will this year others note that the pound could yet prove vulnerable oil price losses change fortune for the dollar however analysts agree the bank largely trying set the timing cut than holding out against one altogether the authorities traditionally prefer single sustainable rate move one way the other half points here and there some add the bank will influenced signs that least proportion the latest bout sterling buying long term capital coming into the london market notably from japan they argue that the pound being perceived safer bet than the dollar given the latters recent sharp falls and current political upheavals washington the bank may want see another few points the trade weighted index before the budget argued lewis but then sterling should firm enough satisfy even the bank england added the bank declined comment its reasons for resisting pressure for rate move before the budget but banking sources said the authorities see the recent rise sterling more than just marking foreign exchange traders meanwhile analysts noted the market ignored potentially harmful news the trade front today figures showing that the current account deficit was billion stg this was above previous estimates the current account deficit and compares with surplus billion stg fellner said that under more normal conditions this would have given the bond and currency markets pause but that they were too bullish worry about such fundamentals the guessing game over the timing cut has the clearing banks divided well the markets privately some bank officials forecast the bank will hold out least for this week but least one bank says rise possible tomorrow move comes before march forecasts are for half point cut with another half full point about budget day reuter 
earn	engelhard corp sets stock split engelhard corp said its board declared three for two stock split and raised the quarterly dividend cts per share presplit from cts both payable march holders record march reuter 
crude	egyptian crude oil output down non opec egypt produced mln tonnes about mln barrels crude against mln tonnes about mln barrels according official figures released today the egyptian general petroleum corp egpc officials say egypt can produce one mln bpd per day but production was cut when world prices plunged last year attempt help opec stabilize the world market egypt cut its production target bpd its current output bpd egypt which exports third its output currently sells its top suez and ras bahar blends for dlrs barrel reuter 
earn	and oil tool hhot qtr loss shr loss six cts profit two cts net loss profit revs year shr loss dlrs loss cts net loss loss revs mln mln note year includes special charge dlrs cts per shr write down rental equipment reuter 
earn	and financial corp cbtf year net shr dlrs dlrs shr diluted dlrs dlrs net reuter 
acq	amoskeag bank amkg acquire entrepo amoskeag bank said signed agreement acquire entrepo financial resources inc philadelphia based company which leases and remarkets high technology equipment terms the acquisition were not disclosed said entrepo has assets mln dlrs reuter 
earn	washington national corp wnt votes dividend qtly div cts 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 definitive agreement for nichols become member the cbsi group banks for exchange stock worth mln dlrs cbsi said expects complete the deal pending nichols shareholder and regulatory approval later this year reuter 
acq	eastman kodak acquires pct interest 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 the use called junk bonds favor shortening the disclosure period two days shad told members the house telecommunications and finance subcommittee when asked for his recommendation said the sec responsibility was provide full disclosure for securities including junk bonds and not make decisions based merit said junk bonds had some value because their liquidity shad said opposes proposals require those attempting takeovers file statement the impact the takeover would have the communities involved opposed the past goes far beyond investor protection shad said said had comment proposal house speaker jim wright texas tax securities transactions reuter 
earn	corrected pegasus gold inc pgulf qtr net shr profit cts loss two cts net profit loss revs year shr profit cts loss cts net profit loss revs mln mln note company corrects reporting period qtr and year from qtr and nine mths reuter 
acq	hughes tool says baker bko merger alive hughes tool chairman kistler said its counter proposal merge with baker international corp was still under consideration and that merger was the best interests both companies our hope that can come mutual agreement that good for both companies kistler said the proposed merger that would result billion dlr oil field service company working very hard this merger hughes board today again adjourned shareholders meeting vote the proposed merger and rescheduled for march give baker more time consider the counter proposal the hughes board which had previously expressed concern about department justice consent decree that would require baker sell its drilling bit operations and submersible pump business met yesterday and threatened terminate the proposed merger the hughes board made counter proposal that the two companies first find acceptable buyers for the businesses before signing the decree the directors baker immediately after receiving the counter proposal filed law suit texas texas state court force hughes complete the merger the uncertainty the price and conditions that might imposed the department justice makes very nervous about what the outcome might kistler said explaining why hughes had made the counter proposal need additional time understand why baker did not accept our proposal kistler also said that the law suit filed baker was not factor the board decision keep its merger proposal the table declined comment the allegations the lawsuit kistler said hughes would willing consider compromise counter proposal but declined more specific the justice department january said would block the hughes and baker merger anti trust grounds unless both companies agreed sign consent decree that would provide for the sale the assets after the merger took place the hughes board said would not sign the decree because its was too unreasonable hughes said that baker should instead complete the sale the disputed assets before the merger finalized and given government approval under the decree baker unable find acceptable buyers within specified period time after the decree approved federal trustee would become responsible for finding buyer kistler said that under those terms the trustee could take years complete the sales also expressed concern that the combined companies might required the government conditions license some its technology any purchaser the assets baker said last night statement that the required assets sold would reduce revenues about mln dlrs representing about three pct the revenues the combined companies reuter 
earn	aequitron medical inc aqtn qtr loss period ended january shr loss five cts profit eight cts net loss profit sales nine mths shr profit six cts profit cts net profit profit sales mln reuter 
earn	lowe cos inc low qtr jan net shr cts cts net mln sales mln mln avg shrs mln mln year shr dlrs dlrs net mln mln sales billion billion avg shrs mln mln note current year net both periods includes charge dlrs seven cts shr from early note retirement and charge seven cts shr from reversal tax credits current year net both periods includes gain six cts shr from plywood manufacturers litigation settlement reuter 
acq	france sell stake societe generale unit the french government sell the public its pct direct holding societe generale stgn regional bank subsidiary societe generale alsacienne banque sogenal from next monday sogenal officials said sogenal founded and nationalised the leading french regional bank and has branches austria belgium luxembourg east and west germany and switzerland chairman rene geronimus told news conference the share offer price expected announced tomorrow finance minister edouard balladur would between and francs societe generale which will itself privatised later this year will retain its pct majority holding the bank chairman marc vienot said sogenal officials said they forecast consolidated group profit around mln francs after estimated mln this year and mln sogenal privatisation will preceded capital increase mln francs from mln earning about mln francs new funds its shares will divided eight giving capital mln shares francs nominal the bank will listed the nancy stock exchange line with the finance ministry and government aim regional operation geronimus said said was hoping for shareholders total around against the before nationalisation ten pct the capital floated will reserved for employees with the rest offered the public there will not share reserved for foreign investors this too small operation and anyway they will able buy shares france said stockbroker sources said that likely share offer price francs would value sogenal billion francs geronimus said the bank future aim would reinforce its existing strong points with major projects planned apart from the opening soon basle branch sogenal the only french bank austria set the first foreign exchange dealing room outside paris its strasbourg headquarters and the only foreign banking subsidiary broker the zurich bourse the government banking adviser for the operation was banque privee gestion financiere bpgf owned french financier pierre moussa pallas group assisted britain hambros bank ltd reuter 
earn	midland mla sets stock split midland said its board declared two for one stock split subject approval doubling authorized common shares the annual meeting april and increase the quarterly dividend cts pre split from cts the dividend payable april record march and the split would payable may record april reuter 
earn	prudential insurance year earnings the prudential insurance company america privately held company said today that net income rose billion dlrs from the billion dlrs reported the year earlier assets under management rose billion dlrs from billion dlrs while consolidated assets jumped 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 that the securities operations prudential bache netted mln dlrs after taxes and charge mln dlrs reuter 
earn	aequitron aqtn sees qtr charge aequitron medical inc said costs related its previously announced plan consolidate life products operations boulder colo are expected total dlrs eight cts share for the fourth quarter ending april said the costs including moving expenses severance pay and future lease payments the company said will consolidate life products into the company headquarters and manufacturing operations minneapolis reuter 
earn	big inc bigb qtr jan net shr cts cts net sales mln mln avg shrs year shr cts cts net sales mln mln avg shrs reuter 
acq	wilshire woc chief named jacobs jec board wilshire oil texas which has pct stake jacobs engineering group inc said its chairman siggi wilzig was appointed the jabobs board filing with the securities and exchange commission wilshire which holds jacobs common shares said wilzig was appointed the jacobs board directors march after the company annual shareholder meeting wilshire also said that jacobs chairman joseph jacobs has agreed recommend second wilshire nominee for election the board the person was found qualified reuter 
earn	quartz engineering and materials qrtz qtr qtr ended dec shr nil nil net loss loss revs reuter 
acq	kodak buys stake enzon enzn eastman kodak said has acquired pct equity interest enzon inc pharmaceutical company specializing protein therapy kodak said secured worldwide marketing rights for three enzon peg enzymes used the treatment oxygen toxicity disorders hyperuricemia and gout the company said acquired two mln enzon shares for mln dlrs with loans enzon two mln dlrs and interest dlrs credited against the purchase price kodak said the drugs covered the marketing rights are initial stages the food and drug administration approval process said the investment should provide the necessary capital complete the fda review process and provide 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 gout and other conditions caused the buildup high levels uric acid the body reuter 
earn	gemcraft inc gemh year net shr cts dlrs net sales mln mln avg shrs note net includes dlr pretax charge from writedown land and abandonment land and pretax charges dlrs from pending rescission offer settlements with agencies adjustment the prior booking residuals arising from collateralized mortgage obligation bond issues writedowns land held joint venture startup costs associated with entering new markets increase reserves for customer service and writeoffs and reserves for mortgage related receivables reflect current market values reuter 
earn	applied solar energy corp solr qtr net qtr ended jan shr profit nine cts loss cts net profit loss sales note net includes extraordinary gain dlrs two cts per shr reuter 
earn	pacific nuclear systems pacn qtr loss shr loss cts profit seven cts net loss profit revs year shr loss cts profit cts net loss profit revs mln reuter 
earn	anglo american gold investment ltd aagiy year feb shr cts pre tax mln rand mln net mln mln tax nil mln final div cts making cts div payable april register march reuter 
acq	harris cuts triad systems trsc stake pct harris associates chicago investment advisory partnership said lowered its stake triad systems corp shares pct the total outstanding from shares pct filing with the securities and exchange commission harris said sold net triad common shares between dec and feb prices ranging from dlrs share said its dealings triad common stock were done behalf its advisory client reuter 
earn	libra bank expects brazil reach debt accord london march london based libra bank plc said when announcing its annual results that expected brazil reach agreement with its creditors over debt repayments recent years brazil has demonstrated its ability generate surpluses sufficient service its debt and have doubt that due course will reach agreement with the banks and its other creditors libra managing director peter belmont said statement earlier the bank which specialises providing finance latin america and the caribbean announced pretax profits mln stg for calendar against mln libra net worth increased pct mln stg last year and belmont said the improvement the bank balance sheet was due profits being mostly retained the bank and the issue mln stg cumulative redeemable preference shares during the year libra consortium bank national westminster bank plc nwbl chase manhattan bank cmb royal bank canada swiss bank corp sbvz westdeutsche landesbank girozentrale welg mitsubishi bank ltd bancomer snc banco itau credito italiano spa and banco espirito santo comercial lisboa all have shareholdings reuter 
acq	idea inc idea buy private firm idea inc said signed letter intent buy privately held structural instrumentation inc the purchase for undisclosed sum will made mostly with idea common stock the company said idea said the purchase will add about cts per share its fiscal earnings idea reported earnings four cts per share for the quarter ended october reuter 
acq	ducommun inc dco sells division ducommun inc said sold its airdrome parts division group investors headed airdrome management for cash price mln dlrs ducommun said the sale coupled with its sale last month metermaster were steps taken improve the company balance sheet and that further sales are being contemplated reuter 
earn	hooper holmes sherlock inc hoop qtr net shr cts cts net revs mln mln avg shrs mths shr cts cts net rwevs avg shares reuter 
acq	texon energy txon talks acquisition texon energy corp said has entered into preliminary agreement purchase pct interest privately held specialty plastics manufacturing company did not name texon said completion the acquisition subject the consent banks and third parties and the acquisition would made for promissory notes and common stock reuter 
earn	allied ald affiliate restates loss larger allied signal inc pct owned union texas petroleum affiliate said has restated its fourth quarter and full year losses and revenues increase the provision for the proposed settlement price dispute involving indonesian liquefied natural gas said the restated increases the provision against fourth quarter earnings mln dlrs from mln dlrs estimated earlier union texas said its fourth quarter loss was increased mln dlrs from mln dlrs reported previously and revenues reduiced mln dlrs from mln dlrs union texas said for the full year restated its loss mln dlrs from mln dlrs and revenues billion dlrs from billion dlrs the restatement results from tentative agreement reached february with pertamina the indonesian state owned petroleum enterprise and japanese purchasers lng kohlberg kravis roberts and also owns pct union texas and the remainder owned management reuter 
earn	amrep corp axr qtr jan net shr cts cts net revs mln mln nine mths shr cts dlrs net revs mln mln note share adjusted for three for two stock split december reuter 
earn	ici ici sees growth pharmaceuticals imperial chemical industries plc expects earnings from its pharmaceuticals operations grow about pct world profits within the next five years compared with current pct chairman elect denys henderson told financial analysts over the next five years expect launch one major new product each year henderson said also said research and development spending this business segment will increased pct total sales income from pct mln sterling ici the world fifth largest chemicals firm terms sales recently reported profits about mln dlrs billion dlrs sales compared with income mln dlrs billion dlrs sales year earlier sales the united states totaled about three billion dlrs ici executives said addition henderson said overall corporate growth will come from ici research and development activities but the company intends continue grow through acquisition program ici spent just under one billion dlrs for acquisitions during the largest which was the mln dlr purchase cleveland ohio based glidden inc paints resins and coatings company from hanson trust plc ici financial director alan clements said the company borrowing limits are level about billion sterling billion which have already been used while the company has current plans for major acquisition are ready move quickly the acquisition field the need arises clements said reuter 
earn	safecard services sfcd sets split ups payout safecard services inc said its board declared three for two stock split and maintaining the quarterly dividend post split shares the same six cts now pays for effective pct increase both the split and the dividend are payable april holders record march reuter 
earn	wilton enterprises inc wltn qtr jan net oper shr profit two cts loss cts oper net loss sales half oper shr profit cts profit eight cts oper net profit profit sales mln mln note current year net excludes tax credits dlrs quarter and dlrs year reuter 
ship	rotterdam port subsidy end july minister dutch social affairs minister louw graaf announced withdrawing the annual mln guilder labour subsidy for rotterdam strike hit general cargo sector from july late last month graaf said that the dispute was not settled monday this week would withdraw the subsidy the chairman the port employers organization svz jacques schoufour said was unhappy with the decision and added there was now alternative proceeding with redundancy plans the series strikes the sector started january protest employers plans make redundancies from the strong workforce starting with this year meanwhile the port and transport union fnv attacked loss figures given for the port for this year the figures issued accountants behalf the svz put total losses for last year mln guilders and mln earlier the employers had put the figure around mln the fnv said the actual losses were nearer mln and said the employers had inflated the figures part their plan restructure completely the port general cargo sector reuter 
earn	sayi take qtr loss from sale industries inc said expects loss about two mln dlrs its third quarter ended february from the proposed sale its omnilab inc health care unit said its board directors approved the unit sale because omnilab was losing about dlrs quarter longer see near term prospect for reasonable return our investment romilly humphries president and chief executive officer said said proceeds from the sale would used increase the company market share automotive products packaging and diversify its packaging capabilities reuter 
earn	sonesta international hotels corp snst qtr shr profit cts loss cts oper net profit loss revs mln mln year oper shr profit dlrs loss dlrs oper net profit mln loss revs mln mln note year net excludes dlr tax credit net includes pretax gains sale property dlrs quarter and mln dlrs year reuter 
earn	domco industries ltd qtr jan net shr four cts cts net revs mln mln reuter 
acq	unicorp american uac acquisition advances unicorp american corp said has signed definitive agreement for the previously announced acquisition lincoln savings bank the company said the transaction still subject regulatory approvals reuter 
acq	first eastern corp febc completes acquisition first eastern corp said has completed the acquisition peoples bank nanticoke exchange first eastern shares for each peoples share peoples has assets about mln dlrs reuter 
acq	bishop graphics bgph completes store sale bishop graphics inc said completed the sale its newport beach art supply center standard brands paint sbp art store unit terms were not disclosed bishop also said has opened new sales and service office 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 rio janeiro with labour minister almir pazzianotto union officials said jorge luis leao franco senior official the national merchant marine union told reuters was optimistic the talks would lead end the stoppage which began last friday brazil seamen are seeking pay rise pct the union official said the strike had halted total vessels including brazil main port santos and about more rio janeiro abroad six ships lay idle the netherlands spain venezuela france and south africa said economic analysts said the strike was serious concern the government which has already had suspend interest payments part brazil foreign debt following drastic deterioration the country trade balance the head the national merchant marine authority murilo rubens habbema was quoted today gazeta mercantil newspaper saying that the strike continued foreign ships could authorized transport brazilian exports brazil living through crisis the moment and not conceivable that exports hit said but even using foreign ships must not forget that are going lose foreign exchange paying freight charges abroad and all this through the fault the seamen rubens habbema said spokesman for the port santos which has been the scene labour unrest and congestion recent months said movement ships out the port was running about half its normal level ships day said total ships were either waiting anchor moored the harbour reuter 
earn	brown group inc votes regular dividend qtly div cts cts prior qtr pay april record march reuter 
earn	blocker energy corp blk year net oper shr profit cts loss dlrs oper net profit loss mln revs mln mln note net excludes mln dlr gain from debt extinguishment net includes mln dlr writedown drilling rigs reuter 
earn	ltx corp ltxx qtr jan loss shr loss cts loss cts net loss loss sales mln mln avg shrs half shr loss cts loss cts net loss loss sales mln mln avg shrs note prior year net includes tax credits dlrs quarter and dlrs half reuter 
trade	yeutter says budget deficit reduction key trade deficit solution 
earn	calprop corp cpp qtr net shr cts cts net revs mln avg shrs year shr cts cts net revs mln mln avg shr note prior qtr and year per share figures restated for pct stock dividend december reuter 
earn	sis corp sisb year net shr one nil net revs mln mln reuter 
earn	amoskeag amos sets quarterly qtly div cts cts prior pay march record march five reuter 
earn	medtronic inc mdt sets quarterly qtly div cts cts prior pay april record april reuter 
earn	scitex corp scixf qtr loss shr loss cts loss dlrs net loss loss mln revs mln mln year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln avg shrs mln mln note includes losses qtr and mln year from equity pct owned companies reuter 
acq	stanley works swk makes acquisitions stanley works said has acquired acme holding corp maker sliding and folding door hardware and the designs patents and other righs plan flex designer which provides kits for home design and remodeling projects said acme had sales over mln dlrs terms were not disclosed reuter 
earn	anitec image technology corp antc sets payout qtly div cts cts prior pay april record march reuter 
earn	green mountain power corp gmp sets quarterly qtly div cts cts prior pay march record march reuter 
earn	dual lite inc mdt sets quarterly qtly div eight cts eight cts prior pay may record april reuter 
earn	science management corp smg qtr oper net oper shr profit cts loss cts oper net profit loss revs mln mln avg shrs year oper shr profit cts loss cts oper net profit loss revs mln mln avg shrs note excludes gain dlrs loss dlrs qtr and gains dlrs dlrs year from tax loss carryforwards includes gains dlrs and dlrs qtr and year respectively reuter 
earn	carmel container systems ltd kml year oper net oper shr dlrs cts oper net revs mln mln avg shrs note excludes gain dlrs dlrs from benefit tax loss carryforward results for tel aviv israel based company translated rate one dlr new israeli shekels reuter 
earn	tandem computers tndm sees higher net tandem computers inc said expects higher earnings and revenues its second fiscal quarter ending march against year ago feel will continue see higher growth the quarter james treybig president and and chief executive officer told meeting securities analysts the second fiscal quarter last year tandem earned dlrs cts per share revenues mln dlrs treybig declined offer specific projections for the quarter but said the results might lower than those for the first quarter fiscal when tandem earned mln dlrs cts share said tandem second quarter traditionally slower than the first rothschild unterberg towbin analyst frederic cohen estimated tandem second quarter net cts per share for the full year said expects the computer maker earn about dlrs share fiscal tandem earned dlrs share treybig who founded the cupertino calif based company said has seen rebound computer orders the united states the economy picking and buying decisions are being made didn see that year ago said the executive said tandem will increase its research and development spending about mln dlrs this year from mln dlrs fiscal said the company plans introduce several products including two low end systems and data base that uses the sql programming language industry standard tandem also won major order from the bank tokyo reuter 
interest	fed johnson says does not see increasing pressure interest rates 
acq	first union func buy florida bank first union corp said has agreed acquire first state bancshares inc pensacola fla and its first state bank pensacola subsidiary for about common shares first state has assets about mln dlrs the acquisition expected treated pooling interests expected completed the third quarter subject approval regulatory agencies and first state shareholders reuter 
earn	oppenheimer raises nwa nwa earnings estimate oppenheimer and analyst robert mcadoo raised his earnings estimate for nwa inc parent northwest airlines following strong quarterly report the company yesterday according oppenheimer market strategist michael metz nwa shares rose active trading mcadoo raised his estimate dlrs share from five dlrs and maintained buy recommendation the stock metz said mcadoo was traveling and could not reached for comment yesterday minneapolis based nwa reported fourth quarter net about mln dlrs cts share against loss two mln dlrs nine cts the quarter for the year earnings rose mln dlrs dlrs from mln dlrs the results include republic airlines since nwa acquired aug reuter 
earn	yellow freight yell sees lower qtr net yellow freight system inc said its expects first quarter profits substantially below the mln dlrs cts share earned the same period year ago revenues have been depressed recent price discounting added costs from expansion programs lower shipping volumes and increased costs associated with severe weather conditions the east coast company officials told analysts here industry wide rate hike pct set for april one will cover yellow freight upcoming labor and other costs but will not make contribution operating margins said reuter 
acq	moulinex stake sold some institutions the pct stake moulinex moup sold scovill inc the was spread among least institutional investors worldwide spokesman for brokers james capel said capel handled the deal the buyers were based centers ranging from europe north america and japan added moulinex capital split among jean mantelet president the company with pct along with private investors holding pct and the pct which has just been sold company sources said earlier paris reuter 
acq	talking point piedmont pie carl icahn bold takeover bid for usair group has clouded the fate piedmont aviation inc which was being courted usair yesterday icahn transworld airlines inc twa made billion dlr offer for usair group the move complicated usair takeover offer for piedmont which was believed close accepting the bid today usair rejected icahn dlr per share offer and said the bid was last minute effort interfere its takeover piedmont icahn was unavailable for comment piedmont fell one volume twa was off usair fell doubt spread would taken over analysts and market sources view the twa bid attempt either trigger counter offer from usair attract suitor who might want both airlines once they merged the next move either icahn starts tender offer piedmont and usair announce deal speculated one arbitrager some arbitragers said there now some risk the current price piedmont since not clear that usair bid will succeed piedmont 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 piedmont stock and dlrs per share stock for the balance some arbitragers however believe the depressed price piedmont offers buying opportunity since the airline destined acquired someone usair they said the least likely bought icahn who has long talked about further consolidation the airline industry also offered usair the alternative three way airline combination including twa and piedmont but wall street has given little credibility icahn offer which lacked financing and was riddled with contingencies still has succeeded holding merger two airlines both which analysts said would fit well with twa you can discount him said one arbitrager analysts however said icahn would have prove serious following through with his threats making new offer making the offer for usair icahn threatened directly shareholders for pct the stock lower price usair rejected his offer clear icahn wants sell and bluffing said one arbitrager analysts said the dlr per share offer was underpriced about six dlrs per share some analysts believe icahn proposed three way airline combination might face insurmountable regulatory hurdles but others believe could cleared the companies are acquired separately twa would have the surviving company for the deal work said one analyst analysts said such merger would costly and complicated twa has the best cost structure since icahn succeeded winning concessions from its unions order for the other carriers come down twa wage scale merger twa would have the surviving entity analysts said such move does not necessarily free icahn twa they said they said showed skill reducing ozark airlines costs when merged into twa last year and might necessary ingredient for merger work however other analysts speculated the managements piedmont and usair would not tolerate icahn head new company they said usair acquisition twa might way for him exit the company usair airline then merged into twa reuter 
acq	baker int bko hopes complete merger baker international corp treasurer eric mattson said the company hoped iron out snags proposed merger with hughes tool but declined say what compromises might acceptable the proposed merger that would create billion dlr oilfield services company was thrown into limbo yesterday when hughes management balking the terms government consent decree offered counter proposal baker earlier today hughes adjourned shareholders meeting called vote the proposed merger until march and said hoped resume negotitations with baker hughes chairman kistler told reporters that hughes did not want sign the department justice consent decree until after baker submersible pump and drilling bit operations were sold mattson told reuters that baker still believed merger was possible between the two giant oilfield service companies the company position would like see the merger completed which the best interests our shareholders and their shareholders mattson said our goal for merger occur because the litigation can any further than that said baker filed lawsuit texas state court late yesterday force hughes abide terms the proposed consent decree mattson also declined comment whether the directors baker and hughes have scheduled any meetings discuss the merger reuter 
earn	lucky stores inc reinstates quarterly dividend cts per share 
earn	homestead financial hfl ups cash dividend homestead financial corp said has increased the dividend its class common shares cts share from five cts prior while declaring initial dividend its class common stock cts share homestead said the two classes stock emerged part its recapitalization plan which also doubled the number authorized common comprising both classes mln shares homestead said the dividends are payable april shareholders record march homestead also said that class shareholders who want increase their dividends may exchange their shares for equal number class shares before march reuter 
earn	electro sensors inc else year oper net oper shr cts cts oper net sales note earnings exclude extraordinary securities loss dlrs two cts share gain dlrs seven cts 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 set december partly because liftings had been delayed postponed customers unwilling pay fixed opec prices lukman during brief visit london his way home from jamaica told reuters telephone interview that february opec had underproduced partly because members were strictly abiding production quotas and partly because they were resisting the temptation sell discounts official prices around dlrs barrel are determined stand firm the december accord said have spoken every other opec minister and they are committed making the accord work said lukman gave specific figures for february output said the opec secretariat vienna was finalizing these figures told reuters survey published today which estimated that opec output far this week was below mln bpd said that could well correct opec news agency opecna today issued statement saying group output was well below its ceiling february but gave figures but one source close opec indicated that february output may have been between and mln bpd the reuter survey estimated opec february output around mln bpd opec agreed december cut output pct mln bpd and return fixed prices starting february lukman said qatar nigeria saudi arabia and iran had all produced february below their opec quotas iraq which said would not honour its mln bpd quota under the december pact had produced less than had been anticipated said lukman said that some industry reports may correct that february nigeria propuced bpd below its mln bpd quota saudi arabia bpd less than its mln allocation and qatar pct under its bpd quota said that sweet crudes such those produced 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 said opec december had anticipated that demand would slack this time year for seasonal reasons and expected the market firm two three weeks have patient for two three weeks the market now firming actual fundamentals said adding that expected and even beyond official prices after early april this when traditionally there more demand for gasoline rich crudes such nigeria the opec president said producers such kuwait venezuela and indonesia were having less problems with output than producers like his own country because they exported oil products also some venezuela heavy grades were outside the opec pricing system said lukman said that refiner buyers now refusing lift some opec oil official prices instead used their own stocks and ran them down dangerous levels they would eventually have buy opec oil when they realise not free for all the market they will realise they should buy now instead paying more later said lukman asked about industry reports that nigeria was being pressured equity producers for better terms said was important know that terms with them were negotiable flexible and under constant review not only when the market seemed weak said that far meeting the seven nation ministerial differentials committee had been scheduled and that such meeting now twice postponed was not high priority for opec the moment this time have get our priorities right said the most important thing now ensuring that the accord working not dealing with differential cents between grades but any opec member raised concerns objections over the differential system meeting would called said reuter 
earn	lucky stores inc lks reinstates quarterly div qtly div cts nil pay april record march note quarters preceeding qtr dividend was cts reuter 
earn	carmel container systems ltd kml year oper net oper shr dlrs cts oper net revs mln mln avg shrs note excludes gain dlrs dlrs from benefit tax loss carryforward results for tel aviv israel based company translated rate one dlr new israeli shekels reuter 
earn	longview fibre lfbr quarterly dividend qtly div cts cts pay april record march reuter 
earn	bei holdings ltd beih qtr jan net shr cts eight cts net rev mln mln note qtr includes extraordinary gain dlrs six cts share versus dlrs two cts share fiscal first qtr reuter 
earn	atlantic city electric ate sets payout qtly div cts cts prior pay april record march reuter 
earn	kemper corp kemc regular payout set qtly div cts cts previously pay may record may eight reuter 
earn	ffb ffct sets initial quarterly dividend ffb corp parent the first federal bank connecticut fsb said declared initial quarterly dividend five cts per share the company said the dividend payable march holders record march reuter 
earn	union carbide says operating profits for qtr were mln dlrs loss three mln dlrs 
earn	combined internmational pma sees strong combined international corp should have another strong year president patrick ryan told analysts although declined forecast earnings specifically the company reported operating income dlrs share from dlrs share year earlier revenues increased billion dlrs from billion dlrs ryan said combined testing direct response long term care product through its union fidelity life insurance and has plans offer through ryan insurance group answer question combined possible exposure aids related health claims ryan said was minimal although conceded that every carrier who provides coverage vulnerable reuter 
earn	chartwell group ltd ctwl qtr net shr nine cts three cts net rev mln mln year shr cts cts net rev mln mln reuter 
acq	pitt des moines inc pdm acquire steel unit pitt des moines inc said will acquire chicago steel corp exchange for portion its stock reuter 
trade	consensus builds for world agricultural reform top and european farm trade and government representatives called for sweeping reform world agriculture redress critical demand and supply imbalance speakers conference world agricultural markets here demonstrated growing european consensus the need for urgent and collective overhaul world farm trade and production vital that work together bring more freedom and harmony into the world agricultural trade not the disruptions markets may grow even more severe the walls protection climb higher and the level possible retaliation become more harmful department agriculture deputy administrator william bailey said bailey said his attendance the two day meeting which ends tomorrow demonstrated the recognises the need adjust its policies the changing market environment the need for urgent reforms justified the imbalance and tensions the world economy the secretary general the organisation for economic cooperation and development jean claude paye said and the forum for such reform the general agreement tariffs and trade noted paye stressed the need for progressive and joint reduction agricultural subsidies well social measures help farmers unprofitable areas another possible solution would stop supporting farm prices allowing them fixed supply and demand and instead help farmers through income support and adjustment aids proposed james howard executive vice president cargill usa one the world largest cereal houses franz josef feiter agricultural adviser west german chancellor helmut kohl agreed the european community must take greater heed market constraints fixing farm prices however differentiated policy treatment required take account large disparities the situation around the said agriculture efficient sector the european economy and will remain the right policy pursued within the community said reuter 
acq	rexcom rxsc acquire marketing firm rexcom systems corp said agreed buy all the assets postech inc from comtech group international ltd canadian computer service company for pct rexcom voting shares the purchase will for rexcom common and preferred stock postech the canadian firm marketing arm sells computerized restaurant management systems and security systems the the deal subject approval the boards postech and rexcom reuter 
earn	general refractories grx qtr net shr cts cts net rev mln mln year shr dlrs dlrs net rev mln mln note net includes gains from sale non operating assets dlrsm versus mln dlrs net includes nonrecurring cost mln dlrs and provision for separation pay mln dlrs reuter 
earn	union carbide says long term debt rises union carbide corp said its long term debt was billion dlrs compared billion dlrs the company released its audited results the company also said its long term debt was reduced about billion dlrs from the third quarter the end the year asset sales and equity offerings union carbide sold its battery products home and automobile products and agricultural products businesses the fourth quarter offered mln shares stock raising about mln dlrs the asset sales and equity offering were part recapitalization plan undertaken the chemicals company last year audited net earnings mln dlrs dlrs share compared loss mln dlrs dlrs were unchanged from the company preliminary earnings report made jan the earnings results for the fourth quarter were also unchanged included the numbers are mln dlr gain from sale the different businesses mln dlr pension credit and charge mln dlrs from the purchase long term debt premium under the recapitalization the audited results released today the company broke down results business segment operating profit the fourth quarter for all the company operations consolidated basis before corporate and interest expense and taxes was mln dlrs against loss three mln dlrs the quarter the year operating profit was mln dlrs compared loss mln dlrs statement the company said defeated hostile takeover attempt gaf corp gaf and recapitalized the company adding while all this was going our continuing businesses performed very soundly with substantial operating profit improvement over carbon products posted operating profit eight mln dlrs the quarter down from mln dlrs and mln dlrs the year against loss mln dlrs chemicals and plastics had fourth quarter operating profit mln dlrs compared year ago loss mln dlrs the year chemicals and plastics earned mln dlrs against losses mln dlrs operating income industrial gases rose mln dlrs from mln the quarter and mln dlrs from mln the year the company specialties and services segment cut its losses the quarter mln dlrs from mln dlrs and the year three mln dlrs from mln dlrs eliminations business conducted between the company industry segments contributed two mln dlrs fourth quarter profits but did not affect the quarter the eliminations caused losses three mln dlrs compared six mln dlrs the year the operating results include host unusual writeoffs and depreciation charges totaling mln dlrs the quarter and mln dlrs the year capital expenditures rose mln dlrs from mln dlrs segment spending carbon products fell mln dlrs from mln dlrs and spending fell specialties and services mln dlrs from mln dlrs chemicals and plastics expenditures rose mln dlrs from mln and industrial gases they rose mln dlrs from mln dlrs the company cash and equivalents fell mln dlrs year end from mln dlrs year end after net decrease mln dlrs during current assets year end fell billion dlrs from billion dlrs and current liabilities fell billion dlrs from billion reuter 
earn	first commercial bancorp fcob qtr loss shr loss cts loss dlrs net loss loss year shr loss cts loss dlrs net loss loss assets mln loans mln deposits mln note loss included non recurring expenses dlrs comprised asset write downs legal proceeding and dlr provision for loan losses reuter 
earn	harcourt brace jovanovich inc hbj qtr net shr cts cts net revs mln mln avg shrs mln mln year shr dlrs dlrs net mln mln revs billion mln avg shrs mln mln note dec one company acquired holt rinehart and winston and saunders and the dryden press and their foreign subsidiaries including these companies for the single month december qtr earnings were raised seven cts per shr and for the year eight cts per shr reuter 
acq	lone star lce agrees buy concrete operations lone star industries inc said has agreed acquire ready mixed concrete and aggregates businesses from riedel international inc portland ore for undisclosed amount cash lone star one sentence statement gave further details and company spokesmen were not available reuter 
earn	shell francaise returns profit shell francaise sfmf subsidiary shell petroleum returned the black last year for the first time since with parent company net profit mln francs against losses mln and billion posted profit mln the company said statement that cash flow had improved strongly although remained negative mln francs against billion due largely improved performances its main profit centres said the results could have been even better had not been for the collapse refining and sales profit margins the last quarter the year shell sold mln tonnes oil products against mln tonnes the company said the results were line with its targets for the second year its three year recovery programme meanwhile societe shell chimie said also returned profit for the first time since posting net profit mln francs against loss mln other details were available reuter 
earn	fairmount chemical inc fmtc qtr loss shr loss cts loss cts net loss loss sales year shr loss cts loss cts net loss loss sales reuter 
earn	humana inc hum regular dividend qtly div cts cts prior qtr payable may one record april two reuter 
acq	financial corp fin unit buys branches financial corporation america american savings and loan association unit said signed definitive agreement buy three retail savings branches from gibraltar financial corp gfc gibraltar savings unit the purchase which must approved the federal home loan bank and the california department savings and loans would increase american savings deposits about mln dlrs the branches are jolla mesa and san juan capistrano calif reuter 
crude	confidence opec firms energy futures renewed confidence opec ability limit production helped energy futures settle above yesterday closing prices according analysts they also said the heating oil contract found additional support from short covering rally the close april crude closed cts higher dlrs april heating oil was cts higher cts gallon most traders expected follow through profit taking from yesterday but the market found suport from bullish reports that opec producing within its quota said simon greenshields vice president with morgan stanley and inc news today including opec president rilwanu lukman statement that opec february production did not exceed its official quota mln barrels per day helped bouy prices traders said reuter survey found opec production early march was mln bpd addition short covering heating oil found support from traders buying against sales gasoline and crude well from expectations for continued drawdowns stocks refiners shut down for maintenance traders said unleaded gasoline for april finished cent higher cts gallon reuter 
earn	fairfield communities inc fci mos dec shr loss dlrs profit cts net loss mln profit mln revs mln mln note year ago figures based months ended february because company changed reporting period end december months loss includes mln dlrs writedown certain assets reuter 
earn	carver corp cavr qtr net shr cts cts net sales year shr cts cts net sales mln mln reuter 
earn	inter city gas corp qtr shr cts cts 
acq	unicorp uac lincoln definitve pact unicorp american corp said signed definitive agreement acquire lincoln savings bank fsb under terms the agreement announced january lincoln would acquired unit unicorp which minority owned lincoln president alton marshall the acquisition will take place through voluntary conversion lincoln federally chartered stock savings bank from mutual federal savings bank connection with the conversion unicorp will contribute mln dlrs cash lincoln reuter 
acq	humana hum declares shareholders rights plan humana inc said its board approved shareholder rights plan called poison pill plan ensure its shareholders receive fair treatment the event proposed takeover humana said now aware any effort gain control the company under the plan its board declared dividend distribution one right for each outstanding common share held march said each right entitles holders purchase unit share newly authorizes series participating preferred dlrs per unit humana said the rights become effective after entity acquires pct more its outstanding common tenders for pct its stock after such acquisition then each right entitles holders purchase securities the company acquiring entity having market value twice the right exercise price humana said the rights expire march unless redeemed earlier said the rights may redeemed the company for one per right any time prior days following public announcement that pct position has been acquired reuter 
earn	fremont general corp frmi qtr oper net oper shr profit cts loss dlrs oper net profit loss mln revs mln mln year oper shr profit dlrs loss dlrs oper net profit mln loss mln revs mln mln note oper data does not include loss from discontinued operations dlrs cts per shr qtr loss mln dlrs dlrs per shr the year gain mln dlrs dlrs per shr also does not include qtr extraordinary loss dlrs ten cts per shr reuter 
acq	great western financial gwf unit buys banks great western financial corp subsidiary great western bank said will purchase three retail banking branches south florida with total deposits mln dlrs great western said will purchase branches deerfield beach and hollywood with approximately mln dlrs deposits from guardian savings and loan association and one palm beach with approximately mln deposits from goldome savings bank reuter 
acq	hughes changes stance merger after suit one billion dlr lawsuit pushed hughes tool into about face its rejection 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 suit seeking punitive damages from hughes for calling off the merger midday today hughes said was still interested the merger the analysts also said hughes may worried that its troubles could make takeover candidate there was speculation today that harold simmons the dallas investor might try acquire hughes but simmons told reuters not interested simmons said intends file with the securities and exchange monday reporting stake five pct more some publicly traded company declined identify the target other than rule out hughes one analyst said another factor the latest hughes turnabout was borg warner corp bor which owns pct hughes borg warner chairman bere who serves the hughes board believed favor the merger with baker despite the hughes statement that interested merger and baker response that merger still possibile analysts said one could certain where the situation was going think the merger not going through said phil pace analyst kidder peabody and said the merger lost lot its appeal when the department justice required that baker sell off its reed tool operation although the reed operation relatively small view the total size combined baker hughes pace said pct the cost savings are tied that they hughes are obviously concerned about the lawsuit said james crandell analyst salomon brothers inc apparently they are willing continue discussions but whether they will alter their position don know getting little confusing said james carroll analyst painewebber group inc said the arguments cited hughes yesterday for not doing the merger tend weak hughes said yesterday that condition the merger wanted reed tool and other businesses sold prior april the projected merger date government decree allowed longer period time hughes contended was better formally combine the companies with the status reed already settled baker apparently sees reason speed the sale carroll said baker had previously estimated mln dlrs savings the companies were combined without selling reed but said baker now thinks mln dlrs will saved while hughes sees saving only 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 the oil service industry lifting reuter 
acq	armtek arm sells tire truck tire business armtek corp formerly known armstrong rubber said signed agreements with condere corp for the sale its natchez miss tire plant and its and truck tire sales and services corp terms were not disclosed armtek spokesman john sievers said and mln dlr business earlier this week armtek announced the sale its industrial tire and assembly business division dyneer corp scotsdale ariz cash proceeds from both sales will used reduce outstanding debt under long term supply agreement with condere anticipated that truck tires produced the natchez plant will supplied the armstrong tire armtek operating company the company said the closing scheduled concluded march said reuter 
earn	elxsi ltd elxsf qtr loss shr loss four cts loss cts net loss loss mln revs year shr loss cts loss cts net loss mln loss mln revs mln mln reuter 
earn	newscope resources ltd year loss shr loss cts profit cts net loss profit revs note net includes dlr writedown oil and gas properties reuter 
earn	times mirror tmc quarterly dividend qtly div cts cts pay june record may reuter 
earn	inter city gas corp icg qtr net shr cts cts net mln mln revs mln mln year shr cts dlrs net mln mln revs billion billion note net includes mln dlr writedown oil and gas properties partly offset mln dlr extraordinary gain from tax gains and proceeds from sale minnesota utility operations net includes extraordinary gain dlrs shr after preferred divs reuter 
earn	brown transport inc btci qtr net shr profit cts profit cts net profit profit revs mln mln avg shrs mln mln mths shr profit dlrs loss cts net profit loss revs mln mln avg shrs mln mln reuter 
earn	metro mobile cts inc mmct first qtr loss qtr ends dec shr loss cts loss cts net loss loss revs avg shrs mln mln reuter 
earn	spar aerospace ltd year net shr basic cts dlrs shr diluted cts dlrs net revs mln mln reuter 
acq	pesch unit seeks balance republic health alpha health systems corp wholly owned subsidiary pesch and said submitted merger proposal the board reph acquisition the parent company republic health corp which pct owned pesch interests the balance reph common stock owned members republic management mcdonnell douglas corp donaldson lufkin and jenrette and pacific asset holdings republic currently owns hospitals and manages other facilities states details the proposal were not disclosed company representatives were not immediately available the proposal provides that reph would become wholly owned subsidiary alpha and that the existing reph common stockholders would become stockholders alpha said reph board has appointed special committee negotiate terms the proposed merger pesch said last year republic was acquired reph leveraged buyout transaction led leroy pesch the principal shareholder pesch and alpha recently submitted second offer acquire the stock american medical international inc ami dlrs share cash and securities which still being considered american medical board pesch said reuter 
earn	spar sees sees strong five year growth spar aerospace ltd reporting sharply lower profit said anticipated solid profit and revenue growth during the next five years looking the longer term spar confident that its continuing concentration advanced robotics satellite based communications and electro optical defense systems will lead significant growth revenues and earnings over the next five years the company said also forecast higher sales due increased order backlog revenues last year fell mln dlrs from mln while profit fell mln dlrs from mln spar added that lower development costs the communications group and return normal operations gears and transmissions and aviation services will remove serious drain profits this year attributed its reduced earnings communications group losses resulting from continued heavy investment new products and market development four month strike its toronto plants and delays receipt authorization from customers start work new programs reuter 
earn	chesapeake utilities corp chpk regular div qtly div cts cts prior pay april three record march reuter 
earn	swift independent packing sftpr qtr net periods ended january net revs mln mln reuter 
acq	chemlawn says rejects dlrs per share tender offer from waste management 
trade	france yugoslavia commission boost trade france and yugoslavia agreed set joint economic commission part efforts promote commercial links and industrial cooperation between the two countries the french finance ministry said the commission composed businessmen was agreed during talks between foreign trade minister michel noir and yugoslavian minister without portfolio egon padovan ministry statement said both sides had agreed the need boost trade links keeping with accord signed last year calling for pct rise 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 wmx offer chemlawn corp said its board rejected waste management inc dlr per share tender offer and urged its shareholders not tender their shares chemlawn said its board asked management and its financial advisor smith barney harris upham and inc seek other purchasers the company maximize shareholder value chemlawn also said adopted shareholder rights plan poison pill during intermin safeguard period its board adopted deter attempts acquire the company through any means other than all cash tender offer while seeks other purchasers chemlawn also said began litigation against waste management federal court columbus seeking injunctive and other relief the suit alleges among other things that certain waste management officers and directors purchased chemlawn stock before making the tender offer chemlawn claimed such purchases possibly violated the officers fiduciary duties and the securities and exchange commission insider trading rules last week waste management made tender offer acquire chemlawn for dlrs per share mln dlrs chemlawn said its board was determined that waste offer was inadequate and not the best interest shareholders and could adversely affect the interests its employees suppliers creditors and customers our board carefully reviewed waste management offer and concluded that does not fully reflect the value the company strongly urge our shareholders not tender their shares waste management said chairman jack van fossen chemlawn said its rights plan designed protect shareholders against abusive tactics such market accumulations waste management others under the plan one comon stock purchase right will distributed dividend each outstanding share chemlawn common chemlawn said its rights holders can buy share its common for one dlr any entity acquires pct more its commmon other than all cash tender offer for all its shares approved acquisition agreement its board said the rights expire july three days after they become exercisable later than that date said its board may redeem the rights for five cts per right any time prior their exercise date chemlawn said the plan will not triggered purchases purusant waste management present tender offer said the dividend will paid shareholders record march reuter 
earn	cambior inc five mths dec net shr cts not given net not given revs mln not given reuter 
acq	conagra cag acquire monfort mmft conagra inc agreed acquire monfort colorado inc stock transaction both companies said according the letter intent signed the companies conagra will acquire all monfort mln outstanding shares for mln its own shares based conagra closing price dlrs today the transaction worth about mln dlrs the merger expected completed june they said the companies said the acquisition will result restatement conagra earnings for the fiscal year ending may but the restatement not expected materially change the previously reported upcoming fiscal year end earnings fiscal conagra had net income mln dlrs sales billion dlrs for its fiscal year ending august monfort reported mln dlrs earnings sales billion dlrs the company one the largest lamb and beef producers the producing transporting and selling the products domestically and internationally reuter 
acq	mcdonnell douglas not approached pesch mcdonnell douglas corp which has five mln dlr investment republic health corp reph said has not been approached sell its shares republic health earlier alpha health systems corp unit pesch and said submitted merger proposal the board reph acquisition the parent republic health leroy pesch the principal stockholder pesch have not been approached pesch anybody else with respect our holdings republic health mcdonnell douglas spokesman told reuters reuter 
earn	paradyne pdn pleads guilty criminal charge paradyne corp said pleaded guilty criminal charges conspiracy defraud the social security administration and agreed pay mln dlrs fines and costs the government the company also reached agreements principle for mln dlr settlement class action law suits about mln dlrs the class action settlement will provided paradyne insurance carrier the settlement contingent court approval after notice class members said the criminal case settlement dismisses all charges including bribery and false statement except for conspiracy which paradyne pleaded guilty the criminal settlement includes the lifting the government suspension the dismissal the federal civil false claims suit and all charges against the individuals the mln dlrs the insurance carrier will provide for the civil settlement dlrs will settle derivative lawsuit for the year ended december paradyne reported net loss mln dlrs the year end results include mln dlrs provision for future legal and settlement costs cover the civil and criminal settlements announced today paradyne also said named jerry kendall president and chief executive officer succeeding robert wiggins who resigned chairman and chief executive officer part the settlement the indictment kendall formerly served executive vice president and chief operating officer the company also said that due the sluggish marketplace does not expect profitable the first quarter but optimistic about the outlook for the year for the first quarter the company reported net income dlrs sales mln dlrs wiggins was among five paradyine executives who were charged along with three former officers federal indictment stemming from mln contract awarded paradyne build computer network for the social security administration the men were accused conspiring bribe government officials and defaud the social security administration wiggins and other defendants were also charged with providing false testimony and obstructing justice during securities and exchange commission investigation under the settlement announced today federal prosecutors agreed defer all charges against wiggins and three other defendants under one year pretrial agreement the charges would then dropped the defendants successfully complete the probation period details the requirements the agreement were not immediately available reuter 
crude	greece repeats can decide aegean drilling greece replying warning from turkey that will stop athens from seeking oil the aegean sea repeated today that has exclusive right decide where when drill the area government spokesman said statement that ankara believed greece was contravening international law could bring the issue before the courts the spokesman was responding statement turkish foreign ministry spokesman yalim eralp that ankara would take action stop greece oil activities beyond its territorial waters they were violation the berne accord reuter 
earn	nca corp ncac qtr loss shr loss cts loss dlrs net loss loss revs year shr loss cts loss dlrs net loss loss revs mln mln reuter 
earn	biomedical dynamics corp bmdc qtr net shr profit one loss two cts net profit loss sales year shr loss one cts loss five cts net loss loss sales mln reuter 
acq	santa southern pacific appeals merger ruling santa southern pacific corp will later today formally ask the interstate commerce commission icc reconsider its earlier rejection the merger the holding company railroad assets company spokesman said expect file papers late tonight asking the icc reopen the rail merger case spokesman rich hall said telephone interview from the company chicago headquarters the icc had rejected july grounds would reduce competition the merger the santa and southern pacific railroads the deadline for seeking icc reconsideration the merger plan midnight tonight santa southern pacific owns the santa railroad and holds the southern pacific railroad assets trust while awaiting federal approval the merger plan the icc had ordered the holding company divest one the other railroad but stayed its ruling pending decision the request for reconsideration the icc ultimately decides not reopen the case expected reinstate the divestiture order reuter 
crude	iea says opec february crude output mln bpd opec produced average mln barrels per day bpd crude oil february down from mln the previous month and overall mln bpd fourth quarter the international energy agency said few opec countries last month exceeded the production quotas set their last conference december but liftings were reduced from several countries said its latest monthly oil market report these cutbacks were due part buyer resistance fixed prices introduced from february particularly for fixed volumes over extended period gave this breakdown for opec crude output 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 mln bpd actual sales might exceed output due norbec stock disposals contracts for saudi crude have been signed but understood they have much leeway required liftings the report said the reduction iraqi air attacks iranian export facilities allowed iran output reach mln bpd january but buyer resistance fixed prices apparently cut february production said iraqi exports are about mln bpd through the turkish pipeline mln truck through jordan and mln via the saudi pipeline yanbu internal consumption some mln bpd the iea estimated total non communist world oil supply february mln bpd down from mln january and mln the fourth quarter the february world supply figure made 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 mln bpd with centrally planned economies mln bpd non conventional crudes such tar sands and oil from coal and mln bpd from processiing gains within the oecd preliminary norwegian data show record mln bpd output january with lower production expected february accordance with government curtailments approximately bpd announced support opec reuter 
acq	enfield corp plans notes preferred issue enfield corp ltd said planned issue mln dlrs principal amount notes and mln class preferred shares dlrs share the notes would bear pct yearly interest mature march and convertible common shares either march the business day before fixed redemption date dlrs share enfield said said each preferred share would convertible common shares either march the business day before fixed redemption date gordon capital corp and dominion securities inc agreed acquire the issues said enfield said would use proceeds retire short term bank debt and boost its pct stake consumers packaging inc and its interest federal pioneer ltd through open market purchases reuter 
acq	wichita wro buy fountain oil fgas wichita industries inc said agreed buy fountain oil and gas inc wichita said will acquire all the outstanding shares fountain exchange for about mln newly issued wichita common shares wichita presently has about mln shares outstanding the transaction calls for the issuance shares wichita common for each outstanding fountain share wichita also said made number refinancing agreements 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 charged dlrs per barrel for isthmus crude 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 average barrels per day which isthmus pay retroactively while european and clients are charged per delivery reuter 
acq	reph acquisition negotiate pesch merger bid reph acquisition said its board appointed special committee negotiate the terms offer made earlier today pesch and merge with its republic health corp reph unit pesch through its alpha health systems corp unit offered acquire the pct republic health stock that does not already own terms pesch offer have not been disclosed reuter 
acq	hunt group has comdata stake seeks influence investor group led members the hunt family dallas texas told the securities and exchange commission has acquired pct stake comdata network inc cdn and may try influence company policy the investor group led rosewood financial inc said opposes company recapitalization plan worked out between comdata and mason best texas investment firm which last reported holding about pct the company stock the hunt group said offered march buy the entire pct stake held dissident shareholder donald carter dlrs each but has received reply yesterday rosewood which owned the caroline hunt trust estate whose trustees include margaret hunt hill also said has notified the federal trade commission its intent buy between and pct comdata common stock under federal law cannot buy more than pct comdata stock until day waiting period over unless the ftc gives early approval under the proposed comdata recapitalization plan the company would buy mln its common shares dlrs each mason best which belongs cni parnters texas partnership would not tender any its stake under the plan but would instead buy another one mln comdata common shares and would get representation the company board the hunt group said has told comdata that considers required payments under the plan such mln dlr fee and the issuance warrant buy common shares waste the company assets the hunt group which also includes securities texas firms cypress partners and driftwood ltd said spent mln dlrs its comdata common shares reuter 
acq	santa southern pacific appeals merger ruling santa southern pacific corp will later today formally ask the interstate commerce commission icc reconsider its earlier rejection the merger the holding company railroad assets company spokesman said expect file papers late tonight asking the icc reopen the rail merger case spokesman rich hall said telephone interview from the company chicago headquarters the icc had rejected july grounds would reduce competition the merger the santa and southern pacific railroads the deadline for seeking icc reconsideration the merger plan midnight tonight reuter 
earn	viner holdings ltd eavkf qtr loss shr loss cts profit seven cts net loss profit revs year shr profit cts loss cts net profit loss revs mln mln note qtr net includes mln dlr shr writedown stake heck inc hex and dlr three shr writedown arbitrage positions net includes dlr net writedown stake heck dlrs reuter 
acq	carpet firm unit cuts allied products adp stake group led gfi nevada inc subsidiary general felt industries saddlebrook carpet maker said cut its stake allied products corp shares pct from shares pct filing with the securities and exchange commission gfi said sold allied products common shares march dlrs each and donated another shares two universities said its dealings the company common stock were for investment purposes only reuter 
ship	talks fail end brazilian seamen strike pay talks aimed ending week old national seamen strike collapsed today and the strike will continue union official said the walkout brazil seamen has idled ships various ports jorge luis leao franco senior official the national merchant marine union told reuters the strikers who are seeking pct pay increase have rejected offers pct raise from the state oil company petrobras and pct increase from the national union maritime navigation companies syndarma leao franco said eight hours talks rio janeiro with labor minister almir pazzianotto ended today without resolving the dispute said six ships were idle abroad the netherlands spain venezuela france and south africa economic analysts said the strike was major concern the government which has suspended interest payments part brazil foreign debt following drastic deterioration the country trade balance the head the national merchant marine authority murilo rubens habbema was quoted today saying that the strike continued foreign ships could authorized transport brazilian exports brazil living through crisis the moment and not conceivable that exports hit told the gazeta mercantil newspaper reuter 
acq	shearson has pct chicago milwaukee chg shearson lehman brothers inc the brokerage subsidiary american express axp said has acquired shares chicago milwaukee corp pct its total outstanding common stock filing with the securities and exchange commission shearson said bought the stake for mln dlrs for investment purposes and has intention seeking control the company reuter 
earn	viner eavkf viable after heck hex move viner holdings ltd said the earlier reported chapter bankruptcy filing heck inc hex which viner holds shares would not materially affect viner capital position its ability carry its profitable brokerage business viner said its brokerage subsidiary edward viner and had regulatory capital mln dlrs year end the company said heck chapter filing could however affect viner previously reported legal action recover costs from aborted merger agreement with heck said and the toussie viner group with which made the merger offer were assessing their options regarding the heck investment viner earlier reported fourth quarter loss dlrs after mln dlr writedown its stake heck earned dlrs the previous fourth quarter full year earnings totaled mln dlrs against year earlier loss mln dlrs the full year earnings included dlr net writedown the heck stake said reuter 
acq	twa twa sues usair over poison pill trans world airlines inc said filed suit delaware chancery court against usair group inc and its board directors seeking invalidate its poison pill anti takeover plan twa vice president and general counsel mark buckstein said twa also sought declaratory judgement from the court that its dlr per share takeover offer for usair would way interfer with usair possible buyout peidmont aviation inc pie buckstein said twa asked the court enjoin the enforcement usair shareholder rights plan poison pill such provisions which typically allow for the issue securities shareholders the event hostile takeover bid are aimed deterring takeovers making them more expensive usair earlier today rejected twa offer saying twa bid was attempt interfer with its buyout piedmont usair also had said its counsel would investigate the matter tonight spokesman for usair said the airline had comment twa lawsuit usair did respond however twa request the department transportation for permission buy pct usair stock and place the stock voting trust pending approval takeover usair said the request was hastily pasted together order take advantage regulatory anamoly that would allow twa accomplish regulated environment actions that would impermissable the non regulated economy large usair called the transportation department reject twa request reuter 
earn	four seasons hotels inc year net oper shr cts cts oper net revs mln mln note net excludes extraordinary gain mln dlrs reuter 
earn	ivey properties inc raises quarterly dividend ivey properties inc said raised its quarterly dividend cts share from cts and declared both extra dividend cts share and pct stock dividend said the dividends will paid april one shareholders record march for the stock dividend ivey said will pay for fractional shares dlrs per share reuter 
acq	group boosts scandinavia fund scf stake shareholder group led swedish investment firm and norwegian investor said raised its stake the scandinavia fund inc shares pct the total from shares pct filing with the securities and exchange commission the group which includes ingemar rydin industritillbehor the firm and investor erik martin vik said bought the additional shares between feb and march reuter 
acq	offshore investment firm ups france fund stake vbi corp offshore based investment firm told the securities and exchange commission raised its stake the france fund inc frn shares pct the total from pct vbi which based turks and caicos islands the british west indies said bought the additional shares between feb and march has said bought its france fund stake for investment purposes only reuter 
earn	tpa america inc tps 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 august results reflect change fiscal year from november end reuter 
earn	mcgrath rentcorp mgrc sees net rising mcgrath rentcorp said result its december acquisition space expects earnings per share dlrs per share from cts the company said pretax net should rise nine mln dlrs from six mln dlrs and rental operation revenues mln dlrs from mln dlrs said cash flow per share this year should three dlrs reuter 
earn	silver state mining corp ssmc qtr net shr one one net revs year shr seven cts one net revs reuter 
earn	sizzler restaurants international inc sizz net shr cts cts net revs mln mln avg shrs mln mln nine mths shr cts cts net revs mln mln avg shrs mln mln reuter 
acq	mcandrews and forbes are offering dlrs per share for revlon stock 
money-fx	money market deficit revised mln stg the bank england said had revised its estimate the shortage the money market back its initial forecast mln stg midsession the central bank changed the shortfall mln and provided assistance worth mln stg through bank bill purchases bands one and two established dealing rates reuter 
earn	donegal group inc dgic year net shr six cts net revs note company formed august reuter 
earn	peter miller apparel group qtr jan loss shr loss cts profit seven cts net loss profit revs mln mln nine mths shr loss cts profit seven cts net loss profit revs mln mln note shr figures adjusted for issue shares october avg shrs not given full name peter miller apparel group inc reuter 
earn	krelitz industries inc krlz qtr net period ended jan shr seven cts cts net sales mln mln nine mths shr cts cts net sales mln mln note prior year period ended sept comparable periods reflect change fiscal yearend april from december reuter 
earn	donegal dgic projects full year results donegal group inc which today reported earnings dlrs revenues dlrs for the period from august startup through the end said expects much improved profits for the full year revenues about mln dlrs reuter 
acq	macandrews and forbes holdings bids for revlon mcandrews and forbes holdings inc said will offer dlrs per share for all revlon group inc rev outstanding common stock mcandrews said terms the acquisition have not been determined and are subject the acquisition financing revlon closed yesterday the new york stock exchange the company said would bid for all stock its affiliates not already own mcandrews and forbes said informed the board directors revlon that expects make formal proposal the near future also said there can assurance the terms the proposals that the deal can concluded reuter 
acq	borealis gold exploration pact with faraway borealis exploration ltd said entered into agreement with faraway gold mines ltd vancouver british columbia under which faraway will acquire interest borealis whale cove gold property the keewatin district the northwest territories faraway will spend mln dlrs exploration over three years and will hold pct the property until all expenses are paid out when the interest will drop pct also borealis and faraway will issue treasury shares each other and faraway will buy borealis shares from borealis president lorne spence reuter 
acq	imre imre sells stock european institutions imre corp said has received commitments for group european institutions buy about imre shares for dlrs with closing expected march reuter 
acq	instrumentarium acquires nokia subsidiary finland medical group instrumentarium inmr said has acquired electronics components importers and marketers ferrado and insele subsidiaries finland electronics group nokia noks said statement ferrado and insele will merged into instrumentarium professional electronics and information systems division did not disclose price for the acquisitions but said had issued restricted shares partial payment nokia reuter 
earn	fuqua industries inc fqa sets quarterly qtly div six cts six cts prior pay april one record march reuter 
earn	corp inc year dec net shr cts cts net revs mln mln avg shrs mln mln note share results reflect two for one stock split june reuter 
acq	dome petroleum reaffirms dome mines stake for sale right price spokesman says 
acq	commonwealth mortgage ccmc buys armonk firm commonwealth mortgage said purchased westfiar funding corp armonk for undisclosed amount cash commonwealth said westfair originated mln dlrs residential mortgage loans during reuter 
earn	corp inc raises dividend semi annual div cts five cts pay april nine record march reuter 
crude	permian pbt raises crude prices permian corp said that effective march raised its posted prices for crude oil cts barrel the raise brought its posted prices for west texas intermediate cts dlrs barrel west texas sour was also raised cts dlrs barrel permian spokesman said that the south louisiana sweet posted prices was also raised cts barrel dlrs reuter 
earn	american stores qtr shr dlrs dlrs 
earn	central sprinkler corp cnsp qtr jan net shr cts cts shr diluted cts cts net sales mln mln avg shrs avg shrs diluted reuter 
earn	far west industries inc raises dividend annual div four cts cts pay march record march reuter 
earn	far west industries inc year net shr cts cts net revs mln mln reuter 
acq	dome dmp repeats dome mines stake for sale dome petroleum ltd pct stake gold producer dome mines ltd continues for sale the right price spokesman david annesley said response inquiry reaffirming remarks made last year chairman howard macdonald annesley said the company considering selling its stake dome mines concerning dome petroleum pct stake encor energy corp ltd annesley said encor strategic investment for dome and have intention selling dome spokesman annesley said answer question that was not aware any negotiations now under way toward the sale dome petroleum mln dome mines shares also declined specify what price the company would consider selling shares clearly today prices more than dlrs share dome mines stock are very attractive annesley commented were considering the sale the right price time when the shares were priced around nine dlrs added price around dlrs share would considered fairly attractive annesley said annesley also dome petroleum may able sell its dome mines shares premium market prices there might opportunity pick premium that because would virtually control block dome mines said dome mines shares traded earlier dlrs off the toronto stock exchange dome petroleum now negotiating plan restructure debt more than billion canadian dlrs with group major creditors which includes dome mines and encor energy the company previously said expects detail the plan lenders early next week reuter 
earn	selecterm inc sltm qtr loss shr loss not given profit cts net loss profit revs year shr profit cts profit cts net profit profit revs mln mln note pretax net profits dlrs dlrs quarter and dlrs dlrs year reuter 
acq	stone container sto completes waiting period stone container corp said and southwest forest industries inc swf completed all waiting period requirements under the hart scott rodino anti trust improvements act stone said will proceed with its previously proposed acquisition southwest reuter 
earn	residential mortgage investments inc rmi payout qtly div cts cts prior pay april record march reuter 
acq	southwest swf stone sto comply for merger southwest forest industries said and stone container corp have complied with all federal waiting period requirements for stone proposed dlr per share cash acquisition southwest southwest currently has mln shares outstanding the companies entered into merger agreement january and made their initial findings with the department justice and the federal trade commission february three southwest said the waiting period expired march without receiving formal second request for information reuter 
earn	okc limited partnership okc sets lower payout okc limited partnership said will make five per share distribution unitholders down from cts december and payable march holders record march the partnership said the payout the largest quarterly cash distribution allowable under terms its letter credit reuter 
earn	biotech research laboratories inc btrl qtr shr profit one loss seven cts net profit loss revs year shr loss seven cts loss cts net loss loss revs shr out reuter 
earn	american stores asc qtr net shr dlrs dlrs net mln mln revs billion billion year shr dlrs dlrs net mln revs billion billion note qtr and per shr amts includes reduction cts per shr for establishment reorganization reserves tax increase reduced per shr cts reuter 
trade	baker says pact just start treasury secretary james baker said the agreement among industrial nations paris last month only start washington drive intensify economic cooperation among leading countries speech the national newspaper association baker said the six steps beginning with the plaza agreement and culminating the paris accord are only start added see our role steward process which sit down with our industrial allies find ways promote more balanced international growth the paris agreements called trade surplus countries strengthen their growth and the reduce its budget deficit under such circumstances the countries agreed their currencies were within ranges broadly consistent with economic fundamentals baker also said still sees ominous signs pressure for protectionist trade legislation and this pressure for protectionism coming from new areas society but also said believed coalition was forming that supported free trade reuter 
trade	treasury baker forecasts reduction japanese trade surplus this year 
earn	boston bancorp sbos sets two for one split boston bancorp said its board declared two for one stock split payable march record march reuter 
acq	correction macandrews and forbes holdings new york story headlined macandrews and forbes holdings bids for revlon pls read headline and first paragraph macandrews and forbes considers bid for revlon and first paragraph macandrews and forbes holdings inc said considering making proposal corrects from bids for revlon headline and will offer first paragraph 
ship	some shipping restrictions remain rhine limited shipping restrictions due high water remain force parts the west german stretch the rhine river between the dutch border and the city mainz but most are expected lifted this weekend water authority officials said the restrictions caused high water levels include speed limits and directives keep the middle the river prevent damage the river banks the high water was expected recede within two days below levels which the restrictions come into force traffic was halted briefly late tuesday night wednesday and parts thursday stretches the rhine between bonn and koblenz but the shipping bans were lifted the officials said shipping now permitted all parts the west german section the rhine with restrictions some areas reuter 
acq	hawker siddeley offer for clarostat clr ends hawker siddeley group plc offer dlrs share for all clarostat mfg inc stock was scheduled expire est yesterday company officials were unavailable for comment why the american stock exchange had stopped trading clarostat stock for pending news announcement reuter 
acq	taft tfb given deadline buyout proposal narragansett capital inc narr said and dudley taft have requested response from taft broadcasting march earlier today taft broadcasting said taft the company vice chairman and narragansett had offered dlrs for each taft mln outstanding shares the company said the offer conditioned approval its board but spokesman declined comment whether not the board has scheduled meeting the narragansett taft group will provide the equity portion the offer contributing least mln dlrs cash and taft broadcasting common narragansett said said the group has been advised first boston inc fbc first boston corp that the investment banker highly confident that financing for the acquisition can consummated narragansett said the offer subject negotiation definitive merger agreement and definitive financing agreements well approval regulators taft board and taft stockholders the narragansett taft group said its letter taft board states the group intends return control over significant portion the company equity the taft family while providing other stockholders with means realizing very attractive value for their shares reuter 
earn	peter miller apparel group inc qtr loss period ended january shr loss cts profit seven cts net loss profit sales nine mths shr loss cts profit seven cts net loss profit sales note per share reflects issue shares october reuter 
acq	santa southern sfx appeals merger ruling santa southern pacific corp said filed petition asking the interstate commerce commission reconsider its earlier rejection the merger the holding company railroad assets the icc had rejected july the merger the santa and southern pacific railroads the grounds that would reduce competition santa its petition outlines array pro competitive agreements with other railroads which would preserve the economic benefits the merger for the merged railroad and the public the commission agrees that public benefits and competitive enhancements will result can vote reopen the merger case interested parties have until march file statements response the supplemental petition reuter 
trade	baker sees lower japanese trade surplus treasury secretary james baker said the japanese trade surplus would begin decline this year told the national newspaper association you going see reduction the japanese trade surplus some this year but said the reduction would due principally the exchange rate shifts since the plaza agreement and these shifts would take long time work their way through the system reuter 
earn	cineplex odeon corp year oper shr basic dlrs cts 
acq	monfort mnft soars acquisition agreement monfort colorado inc soared over the counter trading responding announcement late yesterday that the firm will acquired conagra inc cag according letter intent signed both companies conagra will offer its own shares for each monfort mln outstanding shares conagra fell one the new york stock exchange monfort integrated beef and lamb producer reuter 
acq	nordbanken auction its fermenta shares sweden nordbanken banking group said would sell the mln free shares deposited loan collateral fermenta frms founder and former chief executive refaat sayed and planned buy them itself the bank said the sale public auction march was because debtor inability repay overdue loan the free shares closed crowns the bourse unofficial list down from peak january nordbanken said did not exclude accepting suitable bid for the shares although expected buy them back itself the statement said the sale did not represent any withdrawal from nordbanken undertakings towards the fermenta group and that had been sanctioned the other main shareholders nordbanken fermenta third largest creditor with loans mln crowns was one the four swedish banks which last month agreed advance the group mln crowns solve its immediate liquidity problems together with two other main shareholders also advanced fermenta additional mln crowns until new equity issue could made fermenta due hold extraordinary shareholders meeting tuesday approve the planned equity issue nordbanken had make provision against mln crown loan sayed its results fermenta new management originally hoped raise mln crowns through the new one for four rights issue and extra mln from issue nordbanken another major creditor and shareholder gotabanken and the group new majority owner industrivarden the share price was crowns but there has been doubt over the plans since the stock fell below this level this week after fermenta former chairman kjell brandstrom said the company was much worse state than thought reuter 
earn	united industrial corp uic qtr loss shr loss dlrs profit cts net loss mln profit sales mln mln year shr loss cts profit dlrs net loss profit mln sales mln mln avg shrs mln mln note net includes tax credits mln dlrs quarter and dlrs year year net includes dlr loss from discontinued operations and mln dlr gain their disposal net both periods includes mln dlr provision for future losses from several major projects defense contractor subsidiary backlog mln dlrs six pct from year before share adjusted for pct stock dividend february reuter 
earn	cineplex odeon corp year net oper shr basic dlrs cts oper shr diluted cts cts oper net mln mln revs mln mln avg shrs mln mln note net excludes extraordinary gain dlrs cts shr basic and eight cts shr diluted net involves week reporting period reflect change end coincide with calendar reuter 
acq	mine safety appliances mnes sell unit mine safety appliances said agreed sell its filter products division donaldson inc dci for undisclosed terms said the filter products unit will relocated from its plant pennsylvania donaldson facility illinois said expects number the unit employees will offered positions with donaldson reuter 
earn	prospect group inc prosz qtr loss shr loss cts loss cts net loss loss revs mln mln avg shrs mln mths shr profit cts loss cts net profit loss revs mln mln avg shrs mln notes may prospect raised dlrs from initial public offering common stock the company purchased march midsouth corp regional railroad company mississippi and louisiana which contributed sales mln dlrs and operating income mln dlrs during first nine months operation reuter 
earn	france fund inc frn sets initial dividend france fund inc said its board declared initial dividend dlrs per share payable april six holders 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 hein year pre tax profit mln guilders mln net profit mln guilders mln consolidated net turnover billion guilders billion net profit per guilder nominal share guilders taking into account one for three scrip issue last year final dividend two guilders same making total guilders same reuter 
earn	national security insurance nsic qtr oper shr loss cts profit cts oper net loss profit year oper shr profit dlrs loss cts oper net profit loss note net excludes realized capital loss dlrs gain dlrs quarter and gains dlrs dlrs year net both periods excludes tax credit dlrs reuter 
earn	cyprus minerals cypm named suits cyprus minerals said along with about other companies has been named defendant product liability lawsuits filed california individual tireworkers aleging injury result exposure talc and other products said other suits are expected brought cyprus which produces talc said has significant factual and legal defenses and substantial insurance coverage and does not expect the suits have material adverse impact its financial condition reuter 
acq	donaldson dci buy mine safety mnes unit donaldson inc said reached agreement buy the assets the filter products division mine safety appliances for undisclosed terms said filter products will operate part donaldson industrial group and its manufacturing operations will relocated dixon ill from evans city donaldson said the acquisition complements its microfiltration business and internal research and development efforts reuter 
earn	arundel corp arl qtr net shr dlrs dlrs net revs mln mln year shr dlrs dlrs net revs mln mln reuter 
earn	gulf states utilities gsu gets qualified audit gulf states utilities said auditor coopers and lybrand has issued qualified opinion financial statements gulf states said the audit opinion satated that without sufficient rate increases funds from other sources gulf states may unable maintain its financial viability which necessary permit the realization its assets and the liquidation its liabilities the ordinary course business said received similar qualified opinion reuter 
ship	midmississippi river opens today for season the mississippi river now open for barge traffic the twin cities minnesota after repairs were completed and the first barges moved upstream through lock and dam near quincy ill cst today army corps engineers spokesman said about inches ice were reported between locks three and four the upper mississippi river but other sections were generally free ice the spokesman said midwestern weather has been mild that barges probably could have kept loading mid mississippi river terminals through the winter lock and dam had not been scheduled for repairs said the peoria and grange locks the illinois river are still scheduled close july for two months repairs reuter 
earn	sun electric corp qtr jan net shr profit cts loss six cts net profit loss revs mln mln avg shrs note net includes tax credits equal six cts one cent reuter 
crude	ecuador says suspends oil exports due earthquake ecuador today suspended its crude oil exports indefinitely due earthquake last night that damaged pumping and crude transport installations energy and mines ministry statement said said the state oil firm corporacion estatal petrolera ecuatoriana cepe notified foreign customers that was declaring force majeure its crude exports due the tremor ecuador opec oil output quota barrels per day bpd senior energy ministry official said that one pumping station salado ecuador main pipeline was damaged also said metre section the pipeline attached the bridge over the aguarico river collapsed the pumping station was about from the reventador volcano near the epicentre the quake which ecuadorean seismologists said registered six the point international mercalli scale the aguarico bridge was also close the volcano said the quake struck northern ecaudor and southern colombia according ecuadorean officials injuries were reported reuter 
earn	leaseway transportation corp ltc qtr loss oper shr loss cts profit cts oper net loss profit revs mln mln year oper shr profit dlrs profit dlrs oper net profit mln mln revs billion billion note net excludes gains from discontinued leasing operations mln dlrs mln dlrs year and mln dlrs mln dlrs quarter results restated for discontinued operations net both periods includes charge dlrs from elimination investment tax credits reuter 
earn	nch corp nch qtr jan net shr cts cts net sales mln mln nine mths shr dlrs dlrs net mln mln sales mln mln reuter 
earn	nationwide had property casualty loss nationwide mutual insurance said its property casualty companies had net loss mln dlrs last year while its life insurance operations earned mln dlrs nationwide said its property casualty group the fourth largest property casualty insurer had mln dlr loss nationwide life insurance earned mln dlrs with last year profit including record capital gains mln dlrs from gains mln dlrs the previous year the company said its property casualty group had record loss from insurance operations last year mln dlrs after policyholders dividends pct from mln dlrs nationwide said surge claims from personal auto insurance and the volatile commercial liability coverages during period unprecedented sales growth generated the loss the company said over mln dlrs last year group losses came from commercial insurance lines and mln dlrs from its personal auto insurance business partially offsetting record insurance losses nationwide said were record investment gains mln dlrs and mln dlr federal tax credit the investment gains were pct from gains mln dlrs reuter 
acq	first women bank investor group offer expires the investor group owning about pct the outstanding capital stock the first women bank said cash tender offer for the bank remaining outstanding shares dlrs per share expired march three the investors said about shares about pct the outstanding had been tendered reuter 
earn	computer memories inc cmin qtr loss period ended december shr loss nine cts loss dlrs net loss loss revs mln nine mths shr loss six cts loss dlrs net loss loss revs mln note current qtr includes tax loss loss dlrs reuter 
earn	trenwick group inc tren qtr net oper shr profit cts loss four cts oper net profit loss revs mln dlrs drs mths oper shr profit cts loss cts oper net profit loss revs mln mln dlrs note qtr and year excludes investment gains and respectively and qtr and year includes investment gains dlrs and reuter 
earn	bush bsh revises qtr year results bush industries inc said that after audit has revised upwards its fourth quarter and year end results february reported unaudited results under the audited amounts fourth quarter income was mln dlrs cts share the unaudited income for the period was cts per share for the year the audited amounts showed earnings dlrs per share the prior results reported income 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 filing with the securities and exchange commission that had increased its stake bench craft inc common stock shares pct the total outstanding universal said its universal furniture industries unit bought bench craft shares march the over the counter market reuter 
earn	clevite industries inc clev qtr oper loss oper net loss profit sales mln mln year oper net profit profit sales mln mln note company made initial public offering june assuming the offering had occurred jan operating net income per share would have been cts share for oper net excludes one time charge mln dlrs dlrs share qtr and year due the february sale the company engine parts division oper net for year also includes profit from discontinued operations dlrs five cts share oper net for excludes extraordinary loss mln dlrs cts share due the june write off unamortized debt issue costs from the public offering oper net excludes extraordinary profit mln dlrs reuter 
earn	cms advertising sets for stock split cms advertising inc said its board has approved three for two stock split the form dividend payable march holders record march the company said similar split was paid december eight leaving with shares outstanding cms advertising said the next split will result proportionate reduction the exercise price its stock purchase warrants dlrs share from dlrs reuter 
earn	cie financiere paribas pari year parent company net profit mln francs mln dividend five francs comparison note the financial and banking group was privatised the government january this year reuter 
earn	correction heineken year item headlined heineken hein year please read first line pre tax profit mln guilders mln corrects year ago comparison mln from mln reuter 
interest	bank england pressure holds base rates this week bank england resistance strong market pressure for lower interest rates succeeded holding bank base rates pct but cost threatening the chancellor the exchequer nigel lawson policy stated the end the paris group six meeting last month that wanted see sterling broadly stable about then prevailing levels market sources said since then the pound has risen pct its closing trade weighted index from pct imediately after the paris meeting and the day today peak pct was its highest since august treasury spokesman said lawson had said neither wanted substantial rise fall sterling the question therefore how large rise ready see before acting paul temperton chief economist merrill lynch europe ltd estimated that the government wanted see the trade weighted index about pct even after this action over the last few weeks sterling only just within striking distance that range said other analysts agree that the government probably has some broad target range around this area however they said lawson would prepared see the pound higher least the short term despite the risk loss export competitiveness and cheaper prices imports the bank england keeps the interest rates they are what stop going higher said john cox executive director ebc amro bank ltd major operator the london foreign exchange market cox estimates that the bank england has been active selling sterling over the past few days despite the lack general market talk such intervention and this has helped keep below dlrs the pound rose dlrs from yesterday and february the day after the paris meeting but cox says the government must worried with sterling heading toward marks and would very concerned holds around these levels warned the bank may run the risk missing the interest rate boat rates don come down the market will say they ought have come down and will sell sterling said most dealers agree there good deal hot money being invested sterling money simply attracted high overnight one week rates which could flow out equally short notice however the authorities will hope that least proportion the buying reflects long term investment the last thing they want reduce them rates and have jack them back again said richard jeffrey economist brokerage house hoare govett ltd said half point cut would ensure continued support for sterling least the near term however most analysts are still looking for full point about march budget day the bank must hold out until sees the reaction the budget said temperton the budget widely forecast vote winner the run general election the major factor behind current bullishness the government bond and currency markets lawson wants delay cut base rates until the budget wants crowned with the glory interest rate cut said ian harwood economist warburg securities the equities arm mercury international group speculation clearing bank might break ranks and lead the way lower were confounded today there was excitement fall the weekly treasury bill rate pct from pct last friday might mean the bank had changed its mind this followed the imposition penal lending rates pct the discount houses yesterday and was the lowest since base rates were pct early last october however with this bill rate pertaining three months money banking sources said the market could not take the cut guide the bank intentions short term rates reuter 
acq	bancroft bcv shareholders rebuke zico offer bancroft convertible fund inc the target unfriendly cash offer zico investment holdings inc said its shareholders approved proposals requiring pct affirmative vote all outstanding shares before fundamental changes its status could made previously only simple majority outstanding shares was needed change bancroft investment status from diversified non diversified fund among other things bancroft said its board continues recommend that stockholders not tender their shares zico british virgin islands company which said had ties south africa reuter 
earn	int totalizator itsi sees better qtr international totalizator systems inc vice president finance joel graff said expects report improved first quarter compared the dlr loss reported the year ago quarter profit looks quite favorable graff said last week the automated ticket systems supplier reported loss mln dlrs for the graff said invested heavily which believe will result higher future growth and earnings for the company reuter 
acq	boc group completes sale unit controls boc group inc airco distributor gases finalized the sale its virginia based gas appaturs business controls corp america newly formed investment group organized former airco employees under the terms the sale airco said controls will continue make the gas apparaturs product line under the airco brand name marketing the products exclusively through the airco distributor network reuter 
earn	abn says profit rise encouraging view dollar algemene bank nederland abnn chairman robertus hazelhoff said the bank pct increase net profit mln guilders from mln was encouraging view the sharply lower dollar hazelhoff speaking press conference after the release abn results said sharp decrease foreign earnings had been compensated strong domestic performance notably the securities business said the bank was also proposing one for share split which should facilitate trade the bank stock news the split sparked guilder rise abn share price the amsterdam bourse close guilders prospects for hung three uncertainties namely the future trend the dollar the level interest rates and abn share equities trade hazelhoff said provisions for general contingencies were reduced pct mln guilders while taxes increased pct mln guilders added lower global interest rates had nipped earnings margins via traditional lending activities said hazelhoff said abn was unlikely continue reducing risk provisions the future but noted the bank was not overly concerned about default latin american debtors factor which brokers say has distanced dutch insititutions from bank stocks recently said that the bank estimated financially troubled sovereign debtors about one quarter were latin american countries these would ultimately pay said added that losses incurred through loans tin producers the wake the tin council crisis end had been written off reuter 
earn	sun electric corp qtr jan oper net oper shr profit nine cts loss seven cts oper net profit loss sales mln mln avg shrs note oper net excludes extraordinary profit dlrs six cts shr and dlrs one share respectively and quarters from utilization tax loss carryforwards reuter 
earn	cetec corp cec qtr net oper shr two cts eight cts oper net sales year oper shr cts cts oper net sales mln mln note current qtr and year figures exclude loss from discontinued operations dlrs cts per share prior qtr and year figures exclude losses from discontinued operations mln dlrs cts per share and mln dlrs dlrs per share respectively reuter 
earn	richton international corp rihl qtr jan shr cts cts net sales mln mln avg shrs nine mths shr cts cts net sales mln mln avg shrs reuter 
earn	valtek inc valt qtr jan net shr cts cts net revs nine mths shr cts cts net revs mln mln reuter 
earn	the writer corp wrtc qtr loss shr loss cts profit cts net loss profit revs mln mln year shr loss cts profit cts net loss profit revs mln mln reuter 
earn	rocky mountain medical corp rmedu qtr loss dec shr loss one net loss revs note company went public april reuter 
earn	first american bank and trust fiama year net shr cts dlrs net mln avg shrs note share adjusted for pct stock dividend may net includes loan loss provisions mln dlrs dlrs reuter 
earn	warrantech corp qtr dec net shr profit nil loss nil net profit loss revs nine mths shr loss nil loss nil net loss loss revs reuter 
acq	insituform iglsf raises stake unit insituform group ltd guernsey channel islands said has exercised option convert stg loan affiliate insituform permaline ltd common shares raising its stake the unit pct from pct the remainder held permaline management and 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 total futures and options turnover the london international financial futures exchange liffe fell slightly during february although daily average eurodollar volume set new record liffe said today total futures and options turnover last month was contracts down from january but sharply above the comparative february figure lots said eurodollar turnover during february was lots against january and the year ago figure the daily average was record lots four pct from the previous record set march february trading encompassed new daily record contracts the the month exceeding the previous record which had been set february liffe said index futures volume was sharply higher during february with contracts trading against january and the year ago level open interest also set new records last month eurodollars contracts and short sterling interest rate futures lots key futures volumes detailed liffe were feb jan feb long gilt eurodollar short sterling bond currencies short gilt key options volumes detailed liffe were feb jan feb long gilt eurodollar bond sterling total options long gilt bond and index options were not trading february reuter 
crude	colombian oil exports not affected quake colombian oil installations were not damaged earthquake which shook ecuador and southern colombia last night and there are plans suspend exports spokesman for the state run oil company ecopetrol said said damage was reported unlike ecuador where indefinite force majeure was declared crude exports colombia currently produces about barrels per day bpd crude exports january totalled bpd the quake which colombia measured between and seven the point international mercalli scale caused panic among residents but injuries were reported reuter 
acq	chicago milwaukee chg greets shearson stake chicago milwaukee corp said welcomed investment shearson lehman brothers inc its company yesterday shearson lehman subsidiary american express axp disclosed securities and exchange commission filing that holds pct interest chicago milwaukee chicago milwaukee stock edged turnover shares one the biggest gainers the nyse the stock has been trading range for the last weeks edwin jacobson chicago milwaukee president declined comment movement the company stock but said from investment point view are pleased have shearson lehman substantial investor shearson lehman purchased the shares for investment purposes and may continue buying shares depending market conditions according the filing chicago milwaukee which sold its railroad interests soo line railroad soo february currently manages and sells its real estate which consists parcels states reuter 
acq	dauphin deposit dapn make acquisition dauphin deposit corp said has signed letter intent acquire colonial bancorp inc new holland exchange dauphin shares for each colonial share depending the market value dauphin shares just before the merger takes place the company said the acquisition subject approval colonial shareholders and regulatory authorities colonial had assets year end about mln dlrs reuter 
earn	van dorn vdc sets quarterly qtly div cts cts prior pay may one record april reuter 
earn	holdings inc mdc sets quarterly qtly div cts cts prior pay march record march reuter 
earn	chubb corp sets quarterly qtly div cts cts prior pay april seven record march reuter 
crude	crude oil prices stocks output fall crude oil prices rose above dlrs barrel this week and industry analysts said the price could rise another dollar inventories fall opec keeping its production down and the cash market there tight supply crude with short transportation time major refining centers said daniel mckinley oil analyst with smith barney harris upham and that could send prices cts dollar higher added the benchmark crude west texas intermediate rose dlrs barrel today rise dlrs this week the rally oil prices this week came after prices fell february more than two dlrs from its high dlrs barrel oil traders were pulling prices down the assumption that oil stocks were building and opec was producing well above its mln bpd quota but now both those assumptions have come under question mckinley said yesterday the international energy agency its monthly report said that oil stocks the oecd area industrialized nations were drawn down mln bpd during the first quarter this year iea estimates that the draw oil stocks during the first quarter this year will come largely from oil companies whose inventory levels april one will estimated mln tonnes about days consumption industry analysts also said the estimate mln bpd draw stocks made shell chairman peter holmes yesterday fed speculation that other major companies were destocking traders said the destocking has come about result called buyers strike which kept refiners from buying officially priced opec oil effort get the organization offer discounts the official price this struggle between the companies and opec the ultimate game chicken but will resolved relatively soon would imagine about the middle the month march the general trading manager international oil company told reuters telephone interview for its part opec has moved win this game cutting excess supplies from the market reduction its own output traders said reuter survey estimates opec output mln bpd this week also earthquake ecuador yesterday led suspend oil exports indefintiely and force majeure its shipments this will reduce short haul availabilities about bpd almost immediately and the longer the suspension continues the larger the draw stocks will for companies expecting there mckinley said international oil traders said that other short haul crudes such north sea brent were also scarce because asian refiners bought the oil after absorbing lot the readily available mideast crudes earlier this week this pattern continues then oil companies will bid the price oil they purchase for their refineries trading managers several companies told reuters but there were skeptics who said they wondered how long opec can retain its unity buyer resistance continues stephen hanke chief economist friedburg commodity management said opec production was lower because the saudi cut mln bpd and this could spell trouble gives other members incentive exceed their quotas added the saudis will picking the tab for other members who produce over their quota and the drain the saudis will continue forcing them cut output maybe low mln bpd support the dlrs average price added there are also signs some opec crudes being sold the spot market below opec official prices traders said oil traders said nigerian brass river sold for delivery into the gulf price related north sea brent which traded this week dlrs far below the official price dlrs for the similar quality bonny light iranian oil also surfacing the gulf and the far east reported discounts its dlrs official price there lot oil priced government government deals which are below official prices and this probably being resold one international trader said reuter 
earn	first federal brooksville ffbv sets quarterly qtly div four cts four cts prior pay march record march note first federal savings and loan association brooksville reuter 
earn	aluminum america regular dividend qtly div cts cts prior qtr payable may record may one reuter 
acq	siemens wants amend telecom plus tele pact telecom plus international inc said siemens siemens information systems wants amend its agreement purchase telecom pct interest tel plus communications delay payment mln dlrs for months telecom shareholders are scheduled vote the mln dlr transaction monday telecom said advised siemens intends close the transaction march scheduled approved shareholders spokesman said this means telecom will decide before the whether not accept the proposed change explaining its request for the amendment siemens informed telecom had recently become aware information causing concern with respect certain accounting and other matters siemens said will therefore need continue its review beyond march determine whether certain representations and warranties are true telecom said advised siemens knows information which would make its representations and warranties untrue siemens already owns the remaining pct tel plus the pct represenmts telecom principal operating asset telecom spokesman said the agreement calls for payment all but mln dlrs the price closing this mln dlrs was paid months later and two mln dlrs per year the anniversary date the transaction said siemens now proposing that mln dlrs added the mln dlrs paid months telecom said the proposed amendment would also permit siemens defer repayment additional pct certain intercompany debt until completion the review telecom said estimates this about mln dlrs reuter 
acq	lucky stores says and investor edelman reached standstill agreement 
earn	international multifoods corp imc dividend qtly div cts cts prior pay april record march reuter 
earn	hadson corp hads qtr net shr profit four cts loss cts net profit loss mln revs mln mln avg shrs mln mln year shr profit cts profit cts net profit profit revs mln mln avg shrs mln mln note net included gain sale foreign properties mln dlrs dlrs per share and writedown oil and gas properties mln dlrs cts per share qtr net included writedowns oil and gas properties reuter 
acq	lucky stores lks edelman standstill pact lucky stores inc said and investor asher edelman agreed settlement that prohibits edelman and his group from taking specified actions obtain control the company and that limits the edelman group ownership lucky stock less than five pct any voting securities the arrangement also provides for the dismissal pending litigation between the parties lucky stores said the settlement also calls for the withdrawal edelman motion intervene pending shareholder actions against lucky stores and its directors the company said addition the standstill provisions also apply hancock fabrics after spun off lucky stockholders the company said lucky stores said the arrangement also calls for the company submit stockholders special meeting set for december proposal from edelman seeking their views concerning repeal charter provision that limits the voting power substantial lucky stockholders edelman who owns about five pct lucky stores stock last year was rebuffed his effort acquire the company last october lucky stores implimented restructuring program that included the repurchase pct its own common shares and reincorporation delaware the spinoff hancock textile chain retail stores was one the key parts the restructuring program edelman and his plaza securities partnership subsequently sued attempt block the proposed reincorporation which was condition the repurchase and restructuring plan under this latest arrangement lucky stores said agreed reimburse the edelman group for mln dlrs out pocket expenses which include litigation and other costs this agreement serves the interests lucky stockholders avoiding the significant cost continued litigation and the accompanying demands management time lucky stores chairman john lillie said statement reuter 
earn	att phone proposal help profits american telephone and telegraph proposal deregulate its long distance phone service unlikely produce radical change phone rates but should help the company 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 profits the long distance business leading higher profit margins analysts said att has long pushed for deregulation its long distance business the profits which have been limited regulated rate return the company investments the rate was cut last year from pct earlier today the company proposed the federal communications commission scrap the formula cut the amount time needed approve rate proposals and leave its competitors oppose filings mci communications corp mcic made similar filing yesterday saying greater the moves would increase competition the telephone business analysts said the proposals will allow att cut costs the long distance unit and increase its profit margins previously constrained the rate return but many said they did not expect the proposals lead higher prices the industry simply because the competition the phone industry giant faces you probably wouldn see much price decline said gartner group analyst fritz ringling but you wouldn see rise grubman said the proposals will allow att selectively raise lower prices depending the market will give att lot more flexibility said att now faces period comment which number companies will able respond the proposals fcc hearings may face least one strong opponent sprint the long distance joint venture between gte corp gte and united telecommunications inc think the congress the fcc should establish reasonable rate return someone should establish sprint spokesman said but added the company was not opposed greater competition may also take some time for the proposals through and the process they may altered the various constituencies affected the move there much complexity much inertia much bureacracy that stricly speaking about the mechanisms won happen that fast said analyst victor krueger the gartner group reuter 
acq	twa confirms ownership pct usair group 
earn	struthers wells suw sees nov loss struthers wells corp said expects report loss without tax benefit about mln dlrs for the fiscal year ended november versus profit dlrs fiscal the company added however that about mln dlrs the loss relates discontinued operations and disposal subsidiaries the company said the loss part its previously announced restructuring that includes the sale its foreign and domestic units struthers added that has filed with the securities and exchange commission for extension file its annual report form result delays caused the restructuring reuter 
acq	soros group tells sec may buy pct fairchild industries 
acq	twa twa confirms ownership usair stock trans world airlines inc said owns more than four mln usair group shares about pct the total outstanding twa said may acquire additional shares the open market private transactions through tender offer otherwise subject department transportation approval twa has offered dlrs per share for usair group usair rejected the offer yesterday calling last minute attempt interfere with its takeover piedmont aviation inc twa spokesman said the company has filed application for approval its offer buy usair with the department transportation and later today will file response usair motion with the dot dismiss the twa application twa said made the statement today its stock position usair response inquiries traders said they believed twa chairman carl icahn was the buyer share block crossed today salomon brothers usair stock was trading heavy volume mln shares twa stock fell while analysts and arbitragers have speculated that icahn may have made the offer for usair order trigger the acquisition his own airline wall street today began take icahn effort more seriously think going the next frank lorenzo wall street said one market source lorenzo chairman texas air has added his airline with the acquisitions eastern airlines and people express airlines there was also speculation that icahn would like buy usair and then sell twa merged company reuter 
earn	silver state mining ssmc corrects net silver state mining corp said has corrected its fourth quarter net income dlrs from dlrs reported earlier today the company earned dlrs last year fourth quarter reuter 
earn	stewart warner corp qtr shr loss dlrs profit cts 
acq	group boost fairchild industries fen stake investor group led new york investor george soros said was dissatisfied with fairchild industries inc management and was considering boosting its holdings much pct the aerospace and aviation company outstanding stock the group already controls fairchild industries shares pct the total outstanding the group said filed wednesday with federal antitrust regulators for advance clearance buy enough additional shares increase its total stake pct the total outstanding stock the group said its representatives had met with fairchild industries officials inform them that they not believe management has been successful enhancing protecting shareholder values said was considering the additional share purchases enable assert greater degree influence over the future management and policies the issuer said decision the specific level share ownership would seek depended market prices future changes management policies available financial resources and other factors the group said also reserved the right pursue other measures intended influence fairchild management and policies either alone concert with other investors the group includes soros and quantum fund offshore investment firm headquartered curacao netherlands antilles that advised soros the group said that since its last sec filing made jan had purchased additional fairchild shares and had sold shares the new york stock exchange jan fairchild industries official later said soros had told the company was not dissatisfied with its management contrary the filing soros has told the company today that not dissatisfied with management fairchild bill fulwider told reuters however fulwider said the company would have nothing say this time about soros disclosure that may buy enough additional fairchild shares hold much pct the company outstanding stock reuter 
earn	payless cashways pci sees better first qtr payless cashways inc chairman david stanley told analysts the company first quarter results reported march will better than the seven cts per share reported the year ago quarter was not wonderful sales quarter but only represents pct the year total results stanley said stanley also said that full year sales will excess billion dlrs compared the billion dlrs reported also said that analysts estimates dlr per shr for are not crazy payless reported net income dlr per share the economy may not get lot better but expect our advantages the lumber industry and cost cutting measures keep competitive larry kunz chief financial officer said the company acquired knox lumber for about mln dlrs october stanley said the company stronger than optimal balance sheet will enable make further acquisitions but negotiations are going the current time said some benefits new management information system will felt and more substantially reuter 
earn	stewart warner corp stx qtr loss shr loss dlrs profit cts net loss profit sales mln mln year shr loss dlrs profit dlrs net loss profit sales mln mln note earnings include provision for restructuring costs dlrs dlrs share pre tax and the effect adoption fasb which reduced pension expense dlrs for the quarter and dlrs for the year before taxes earnings include nonoperating income from the effect nonrecurring gains dlrs the qtr from the sale its minority interest plexus corp and dlrs the qtr related the sale excess property reuter 
earn	moniterm corp mtrm qtr loss shr loss cts loss cts net loss loss revs year shr loss cts loss cts net loss loss revs mln mln note prior year figures restated reflect merger march with amtron corp reuter 
earn	the chubb corp sets qtrly payout qtrly cts cts prior pay april record march reuter 
acq	southtrust sotr acquire four banks southtrust corp billion dlr multibank holding company said entered into agreements acquire four florida banks with assets totalling more than mln dlrs terms the agreements were not disclosed the four banks are central bank volusia county with assets mln dlrs bank pensacola with assets mln dlrs and vista bank which operates vista bank volusia county with assets mln dlrs and vista bank marion county with assets mln dlrs said the agreements are subject regulatory approval reuter 
acq	carling keefe sells star oil unit united coal canada for mln dlrs 
acq	hughes tool merger speculation hughes tool rose one shares apparently reflecting belief that baker international corp bko will able persaude hughes along with previously announced merger analysts said this week hughes seemed back out the merger but then said was still interested talking sounds like baker wants and people are convinced deal going through the stock goes said analyst phil pace kidder peabody and holders hughes would get share baker for each hughes share reuter 
acq	aetna aet reaches agreement buy company aetna life and casualty said reached agreement acquire pct interest universal life and general insurance sdn bhd ulg malaysian composite insurance company the company said the pct balance will continue owned malaysia apera group private investors the transaction valued approximately mln dlrs and expected completed march reuter 
acq	carling keefe ckb sells oil unit takes gain carling keefe ltd said sold its star oil and gas ltd unit united coal canada ltd for about mln dlrs cash carling said will record extraordinary gain about two mln dlrs after tax nine cts common share resulting from the sale the company did not elaborate further financial terms carling official later said reply inquiry that carling would record the extraordinary gain its fourth quarter ending march the move came after carling pct owner rothmans inc agreed last week sell its carling stake elders ixl ltd australia for mln canadian dlrs reuter 
ship	channel ferry reported sinking off belgium the channel ferry herald free enterprise from the british townsend thorensen company was sinking off the belgian coast tonight with people board the dutch newsagency anp reported today unspecified number people had fallen into the water said quoting the pilot organisation this south western dutch port city near the belgian border said the vessel had capsized after collision but gave more details dan kaakebeen spokesman for the dutch salvage firm smit international told reuters telephone from rotterdam that the vessel was just off the belgian port zeebrugge with passengers and crew when the accident occurred gmt kaakebeen said the firm had one vessel the scene and another its way with divers board spokesman the port authority nearby vlissingen said attempts were being made pull the vessel into shallow waters weather conditions were good with fog wind and there were many other vessels the area reuter 
earn	patrick petroleum ppc year loss shr loss dlrs profit cts net loss profit revs mln avg shrs note current year includes tax credit dlrs reuter 
earn	epitope inc epto qtr dec loss shr loss cts loss nine cts net loss loss sales reuter 
earn	clary corp qtr dec loss shr loss cts loss cts net loss revs year shr loss cts loss nine cts net loss loss revs mln mln reuter 
earn	lloyds bank canada qtr profit rises sharply lloyds bank canada unit lloyds bank international plc said net profit soared dlrs for the first quarter ended january from dlrs year earlier loan loss provisions mandatory five year averaging actual loan losses also rose the first quarter dlrs from year ago dlrs the bank said lloyds bank canada became canada largest foreign bank last autumn with its mln canadian dlr acquisition continental bank canada reuter 
acq	dome pete dmp said pressed sell encor dome petroleum ltd under pressure from one its largest creditors canadian imperial bank commerce sell its pct stake encor energy corp ltd energy industry analysts said dome has pledged its mln encor shares security for part its debt commerce bank estimated last year mln canadian dlrs and the bank wants dome sell the stock pay down debt analysts said the commerce has been slowly but surely moving encor the direction that might make saleable asset said one analyst who asked not named dome earlier said was not considering selling encor energy but reaffirmed the company pct interest canadian gold producer dome mines ltd for sale the right price dome now negotiating plan restructure more than billion dlrs debt sees encor strategic investment that does not intend sell spokesman david annesley said the encor shares not pay dividends commerce bank spokesman also declined comment when asked whether pressing dome sell its encor stake current market prices dome stake encor would valued about mln dlrs while its mln dome mines shares would worth about mln dlrs recent strength the price encor shares may also prompt commerce bank press dome divest its holding the canadian oil and gas producer analysts said encor stock price has improved quite substantially recent weeks with runup crude prices peters and ltd oil analyst wilf gobert commented the possibility that commerce bank would like see sold these levels because they can get more for now than they have been able recent years added encor traded earlier the toronto stock exchange near its week high and from around six dlrs early february the company also recently set its own operating management which was previously carried out dome petroleum maison placements canada inc analyst denis mote commented dome and encor are actually going get farther apart the sale does make lot sense mote said however analysts said dome will resist any moves divest encor favor retaining the operating assets since sale proceeds would likely directly pay down dome debt commerce bank think they probably try hang onto encor long they can said bache securities inc analyst doug weber some dome group major creditors might move block such sale arguing they have claim company assets other creditors generally all want make sure that something they might able get piece not being sold out from under them said analyst gobert another stumbling block would encor mln dlr joint liability loans dome petroleum advanced arctic petroleum corp japan for beaufort sea exploration analysts said similar hurdle could also hinder the possible sale dome petroleum interest dome mines dome mines has guaranteed mln dlrs dome petroleum debt and has right consent the sale dome petroleum holding presumably potential buyer the dome mines shares would seek some type relief the company debt obligations connected with dome petroleum gobert said dome spokesman annesley earlier declined specify what price the company would consider selling its dome mines shares but said current prices more than dlrs share are very attractive reuter 
earn	patrick petroleum ppc qtr net shr nil one net revs avg shrs year shr loss dlrs profit cts net loss profit revs avg shrs reuter 
earn	inland vacuum industries inc ivac qtr net qtr ends jan shr six cts eight cts net dlrs dlrs revs reuter 
crude	iranian oil minister arrives algeria iranian oil minister gholamreza aqazadeh arrived algiers the head large delegation for talks stabilizing oil prices the official news agency aps said brief arrival statement said iran and algeria were engaged continuous and stronger cooperation the world petroleum market and had deployed considerable efforts stablise petroleum prices was greeted arrival belkacem nabi the algerian minister energy chemical and petro chemical industries reuter 
earn	del laboratories inc dli qtr net shr cts cts net revs mln mln year shr dlrs dlrs net revs mln mln note per share figures adjusted reflect four for three stock split paid march reuter 
acq	landmark savings lsa completes office sale landmark savings association said completed the sale its whitehall office including deposits about mln dlrs parkvale savings association landmark said realized gain about mln dlrs the sale the price was not disclosed reuter 
earn	holly sugar corp hly sets regular dividend qtly div cts cts prior pay march record march reuter 
earn	coradian corp cdin year net shr profit one cent loss cts net profit dlrs loss revs mln mln note company said net before extraordinary items and taxes and declined provide data those items reuter 
ship	two hundred people rescued from sinking ferry about people were rescued some badly hurt from sinking cross channel ferry carrying approximately people off the belgian port zeebrugge port control spokesman said the spokesman contacted telephone said only one third car ferry the herald free enterprise owned the british company townsend thoresen remained above water divers have been sent down try rescue passengers believed trapped the ferry which was its way from zeebrugge the english port dover and capsized just off the pier added reuter 
earn	foxboro fox qtr loss oper shr loss one loss dlrs oper net loss loss mln revs mln mln mths oper shr profit cts loss dlrs oper net profit loss mln revs mln mln note oper net excludes tax credits dlrs for qtr and dlrs for mths includes restructuring charges 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 preferences gsp took the action after determining that the three countries are not taking steps give their workers internationally recognized rights trade representative clayton yeutter had announced the intended action january the united states conducts trade with nicaragua and very little trade with romania and paraguay reuter 
earn	alfin inc afn qtr jan loss shr loss cts profit cts net loss profit revs avg shrs six mths shr loss cts profit cts net loss profit revs mln mln avg shrs reuter 
acq	bell and howell bhw completes sale unit bell and howell said completed the sale its computer output microfilm business com products inc unit privately held lebow industries inc the sum the deal was not disclosed the unit makes device that prints data directly from computer onto microfilm reuter 
earn	hyponex corp hypx year net shr cts dlrs net revs mln mln reuter 
earn	hmo america inc hmoa year loss shr loss cts profit cts net loss profit revs mln mln avg shrs reuter 
acq	dtd enterprises inc reorganization dtd enterprises inc said filed report indicating that eagleslair development corp had assumed control the company under reorganization plan signed last month the company said gerald lach president eagleslair was named president and director dtd addition dts board resigned and eagleslair appointed new directors the company said reuter 
earn	schwab safe ups payout qtly div cts cts prior pay april record march reuter 
earn	physicians insurance pico qtr net shr cts cts net dlrs dlrs revs mln dlrs mln dlrs avg shrs mths shr dlrs cts net dlrs dlrs revs mln dlrs mln dlrs avg shrs note per share amounts for qtr and year prior have been restated reflect six for five stock split august revs for qtr include capital gains and for year revs for qtr include non insurance revenues and for year revs for qtr include life subsidiary account deposits and for year reuter 
earn	bradley brly announces long term lease bradley real estate trust said signed year lease for property downtown minneapolis bced minnesota inc the lease will increase net income about cts share post february three for two stock split basis for the trust reported net income mln dlrs cts share post split basis bradley will also entitled one time additional rental payment cts share upon bced entering into space lease with prime national tenant and share portion net cash flow from operations the property reuter 
acq	dumez unit has pct westburne wbi dumez investments inc said pct westburne international industries ltd outstanding common shares have been deposited under its takeover bid said has received about shares under its dlrs per share offer which expired yesterday dumez said will proceed acquire the remaining common shares give pct ownership westburne dumez private company owned jointly dumez and unicorp canada corp reuter 
acq	canadian natural resources sell stake canadian natural resources ltd said agreed principle sell pct its working interest certain producing and non producing natural gas properties located southwestern saskatchewan the transaction expected close april the company said did not identify the buyer nor give the selling price proceeds will used satisfy february repayment demand one the company lenders any excess proceeds will added working capital the company said reuter 
acq	malrite buys cox radio station unit malrite guaranteed broadcast partners said bought wtrk inc from cox enterprises inc for mln dlrs cash said wtrk owns and operates wtrk philadelphia radio station transfer the license for the sation has been approved the federal communications commission malrite guaranteed said limited partnerhip formed acquire and operate radio and stations said malrite communications group inc malr the general partner reuter 
acq	cyacq extends tender for cyclops cyl cyacq corp said extended its dlr share tender offer for cyclops corp march from today cyacq was formed citicorp capital investors ltd and audio video affiliates inc ava acquire cyclops the tender offer began february six the offer conditioned upon least pct the outstanding shares and least pct the voting securities being tendered before expiration the offer march six only shares cyclops mln outstanding shares had been tendered reuter 
acq	mono gold says partnership agrees buy shares mono gold mines inc said nim and ltd partnership agreed buy flow through shares with aggregate purchase price dlrs said subject fulfillment certain conditions the price the shares nim will cts per share and said will issue shares the partnership mono also said options buy dlrs its capital stock cts per share expire march three said options have been exercised net the company dlrs added working capital reuter 
earn	uslico corp usvc increases dividend qtly div cts cts prior payable march record march reuter 
acq	usair group requests transportation department order twa divest stake 
earn	diplomat electronics dpec cut costs diplomat electronics corp said will reduce expenses four mln dlrs year effort stem losses and return positive net worth the company also said certain lenders agreed take pct stake the company converting seven mln dlrs debt into preferred stock diplomat said will cut costs several means including dismissal workers its corporate headquarters consolidation its warehousing and shipping operations and reduction management salaries moreover said will relocate its headquarters glendale calif reuter 
earn	dollar general corp dolr qtly dividend qtly div five cts five cts prior payable april three reocrd march reuter 
earn	healthcare services hsai sees write offs healthcare services america inc said will write off about mln dlrs non recurring expenses also said expects income from operations about breakeven for and the estimated loss for the year about the same the writeoffs results will released march included the writeoffs were six mln dlrs developmental costs six mln dlrs unamortized loan costs and debt discounts and four mln dlrs other non recurring costs the company said continues default certain financial and non financial covenants set forth its major loan documents said negotiations continue with the banks but has assurance that such funding will continue said authorized smith barney harris upham and seek business combination with third parties healthcare also said the board has authorized the sale lease certain assets reduce the cash required from the revolving credit line for completion current construction projects for the year ended december healthcare reported net income mln dlrs sales mln dlrs reuter 
acq	usair seeks order against twa twa usair group said sought the help the department transportation its takeover fight with trans world airlines inc asking the department order twa sell its usair shares what they have done direct violation the federal aviation act usair said said twa week filed cursory application with the department transportation for approval its proposed billion dlr takeover usair usair rejected the offer and said asked the department transportation dismiss the application usair said requested the dismissal because twa avoided pre merger notification requirements and also did not provide competitive and public interest analysis required under regulations usair said the application dismissed twa would limited buying only pct its mln outstanding shares the application approved twa could buy pct said twa has said owns less than pct usair stock twa today revealed that has increased its holdings more than four mln usair shares pct the outstanding twa vice president general counsel mark buckstein said the company had made appropriate filings with the dot and was compliance with the law reuter 
earn	park ohio industries inc pkoh qtr net shr loss cts profit dlr net loss profit revs mln mln year shr loss dlr profit dlr net loss profit revs mln mln note net includes certain non recurring charges about dlrs for number items qtr and net includes extraordinary credit dlrs cts per share reuter 
earn	bmc industries inc bmc qtr loss shr loss dlrs loss dlrs net loss loss mln revs mln not given year shr loss dlrs loss dlrs net loss loss mln revs mln not given note results include charges five mln dlrs cts shr for qtr and year compared with charge mln dlrs dlrs shr prior year from discontinued operations and disposal discontinued operations reuter 
earn	united companies uncf declares stock dividend united companies financial corp said its board declared two pct stock dividend payable april eight holders record march the board also declared regular quarterly cash dividend cts payable april one holders record march reuter 
acq	taft tfb bidders would sell entertainment unit proposed buyout taft broadcasting dudley taft and other investors includes plan sell the company entertainment group according one the investors jonathan nelson managing director narragansett capital corp narr which participating the buyout plan declined say buyers have already been lined for the entertainment group are considering selling the group nelson said wall street analysts said any the hollywood film studios which might interested taft broadcasting did not comment the dlr per share offer taft has mln shares outstanding which pct are owned the taft and ingalls families dudley taft relinquished the title president july but continues vice chairman the company taft narragansett requsted response its proposal march the plan accepted taft would private company financed high yield bonds and bank debt nelson said narragansett investment management company specializing leveraged buyout transactions taft shares climbed causing arbitrageurs say investors believe the bidders may raise their price robert bass who controls pct the stock and american financial corp holder pct did not return telephohe calls seeking comment but dennis mcalpine analyst oppenheimer and said don think worth dlrs noted taft recently agreed sell group independent television stations loss said the entertainment group which includes the hanna barbara animation studios currently hampered glut animated product taft broadcasting has never commented reports that its major stockholders met recently discuss break the company macalpine said there are lots options for reshaping the company with distribution various pieces the major shareholders among the possibilities analyst alan gottesman rothschild unterberg towbin inc said the bass group has been increasing its stake the belief the company would worth more with change its strategy said bass pushed for sale the independent television stations because the company paid too much reuter 
acq	sandox buys stauffer seeds sandoz corp northrup king said bought stauffer seeds unit stauffer chemical terms were not disclosed reuter 
acq	energen egn buys municipal gas system energen corp said has acquired the distribution system the city clanton ala for about mln dlrs the customer system the fourth municipal system acquired energen alabama gas subsidiary since october adding total customers reuter 
earn	sierra pacific resources inc srp dividend qtly div cts cts prior payable may one record april reuter 
earn	metex corp mtx qtr dec shr cts cts net revs mln mln year shr cts dlrs net mln mln revs mln mln reuter 
earn	houston oil trust omits march distribution houston oil trust said there will cash distribution the unit holders march the most significant factor for the lack distribution this month the establishment additional special cost escrow accounts the company said adding that there may cash distribution other months during the remainder the year for march the working interest owner will place mln dlrs special cost escrow accounts reuter 
acq	monoclonal antibodies mabs buys company monoclonal antibodies inc said signed agreement principle buy genesis labs inc for about mln dlrs common stock the agreement subject shareholders approval and other conditions reuter 
earn	braniff inc bair qtr loss jan shr loss cts loss cts net loss mln loss mln revs mln mln year shr loss cts profit dlr net loss mln profit mln revs mln mln note net includes extraordinary gain mln dlrs from tax loss carryforward year and loss dlrs qtr reuter 
acq	justice dept supports dismissal twa application for usair control 
acq	transportation department dismisses twa application for usair control 
ship	reported dead ferry disaster least people died when car ferry struck pier left belgium for britain nurse who took part the rescue operation said jan van moerbeke male nurse said coming off the herald free enterprise that had found six people top the vessel who were dead there were least another dead inside the boat added the governor west flanders province said people were still unaccounted for reuter 
acq	continental federal conf holder sell stake continental federal savings and loan association said was told that estate holding pct its stock plans sell its stake premium over the current stock price continental said the estate harold vernon and certain parties have signed letter intent sell the stock for dlrs share for total about dlrs continental stock closed seven over the counter trading the thrift said the buyer bac inc corporation acting for certain unindentified parties reuter 
acq	broker choice buy rubbertech broker choice capital inc said signed letter intent buy rubbertech inc approved shareholders broker choice will issue about mln shares authorized but unissued shares restricted common stock rubbertech inc reuter 
acq	dot dismisses twa twa usair application the department transportation dot said dismissed technical grounds application trans world airlines inc for dot approval for take control usair group the dot added however that twa was free refile when could put together application for control that met the agency procedural requirements the dot acted shortly after the department justice disclosed that supported dismissal the twa application was not immediately clear what impact the denial would have twa bid take over usair its control application twa had acknowledged that additional documentation was required meet dot rules and said would file more material the morning march but the dot said would not wait have determined dismiss twa application for approval the acquisition usair said order issued late friday twa application clearly fails comply with the filing requirements our regulations and twa has provided reason why should accept such deficient filing added accordingly will dismiss the application twa course may refile when able comply with our procedural rules the dot said the agency added that would continue consider separate twa request for federal clearance purchase usair stock through voting trust usair had said earlier today that asked the dot dismiss the twa control application grounds the twa filing did not meet dot requirements reuter 
acq	twa twa refile with agency transworld airlines inc plans refile application monday with the department transportation for approval acquire usair group the dot late today dismissed twa application acquire usair when the dot opens for business monday morning will refiling perfected and completed section application said twa general counsel mark buckstein buckstein said the dot ruled the application which was filed wednesday was incomplete said did not yet know why the agency objected reuter 
acq	justice asks dismissal twa twa filing the justice department told the transportation department supported request usair group that the dot dismiss application trans world airlines inc for approval take control usair our rationale that reviewed the application for control filed twa with the dot and ascertained that did not contain sufficient information upon which base competitive review james weiss official justice antitrust division told reuters reuter 
interest	hong kong banks leave interest rates unchanged the hong kong association banks said decided leave interest rates unchanged today regular weekly meeting current rates are pct for savings accounts hours seven day call one week and two weeks one month pct two months pct three and six months are both three pct nine months pct and months pct prime rate six pct reuter 
acq	savings acuisition california announced the federal home loan bank board fhlbb announced the acquisiton south bay savings loan association gardena calif standard pacific savings costa mesa calif the fhlbb said south bay had assets mln dlrs and standard pacific had mln dlrs assets was the fourth federally assisted merger acquisition troubled savings institution this year the fhlbb said reuter 
ship	two hundred feared dead ferry disaster about people are feared dead after british cross channel ferry rolled its side off the belgian coast last night but almost passengers were plucked safety from the ice cold sea belgian transport minister herman croo told reporters fear the dead could hundreds perhaps given the state the water fear there hope townsend thorensen owners the tonne herald 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 central bank said acquired pct stake ailing united asian bank bhd uab the sixth largest commercial bank the country rebuild public confidence uab called for rights issue last november raise mln ringgit rectify its capital deficiency following accumulated loss mln ringgit end the central bank bank negara said statement but only mln ringgit shares was taken shareholders mainly local indian and malay businessmen and the indian government bank negara said subsequently took the unsubscribed shares totalling mln uab new paid capital mln ringgit said the shares held trust will eventually sold the central bank early this week also announced that had bought pct stake another troubled commercial bank perwira habib bank malaysia bhd after the latter raised its capital mln ringgit from mid january this year bank negara said does not intend hold the shares the two banks the injection capital phb and uab including the recamp management these banks are some the measures taken the bank strengthen public confidence the stability the these banks added the central bank said invoking section the banking amendemnt act empowering grant loans ailing bank buy stake reuter 
ship	ferry disaster may rank among worst tragedies fading hope for passengers trapped aboard partially sunk channel ferry raised fears the accident could rank among this centuries worst peacetime shipping tragedies belgian transport minister herman croo said there was hope rescuing any about passengers trapped the herald free enterprise after capsized off the belgian coast last night confirmed the toll would make the incident the world worst since soviet liner the admiral nakhimov collided with freighter the black sea last september and sank with the loss nearly lives further people were rescued the world deadliest single peacetime incident sea was the sinking the titanic with loss lives the second biggest loss life peacetime was when people drowned when the liner empress ireland collided with freighter the lawrence river canada the world worst maritime disaster was wartime that took lives when the german liner wilhelm gustloff was torpedoed soviet submarine january more than were feared dead after two ferries sank near dhaka drowned when ferry capsized china and died when launch sank off the malaysian state sabah reuter 
ship	almost dead ferry disaster there are more survivors from british cross channel ferry disaster off the belgian coast and almost people seem certain have perished senior belgian official said jacques thas charge rescue for the herald free enterprise said his men had searched all the ship except some inaccessible cabins and the control room afraid there are more survivors said thas said the passsengers and crew were confirmed dead and were missing bringing the total dead presumed dead reuter 
earn	sime darby bhd six months december shr cents cents interim dividend three cents same group net mln ringgit mln pre tax mln mln turnover billion billion note dividend pay may register april reuter 
earn	consolidated plantations bhd six months december shr cents cents interim dividend four cents same group net mln ringgit mln pre tax mln mln turnover mln mln note dividend pay april register april reuter 
earn	tractors malaysia holdings bhd six months december shr cts interim dividend cts nil group net mln ringgit mln pre tax mln mln turnover mln mln note dividend pay may register april reuter 
earn	dunlop malaysian industries bhd six months december shr cts cts interim dividend one cent same group net mln ringgit mln pre tax mln nine mln turnover mln mln note dividend pay april register april reuter 
ship	experts had expressed fears over safety british government investigation got under way into the sinking the car ferry herald free enterprise with heavy loss life experts said doubts had already been expressed about the roll roll off type ship shipping minister lord brabazon said preliminary investigation had started into why the tonne ferry capsized and sank little over minute manoeuvred leave zeebrugge routine four hour crossing dover initial reports spoke water flooding the car decks through the bow doors but spokesman for the owners townsend thoresen said was also possible the ferry had been holed townsend thoresen operate two other ships identical the herald free enterprise but brabazon said was not planned pull them out service present our investigator there already shall have wait and see but too early say what happened told bbc radio the work retrieving bodies from the half submerged hulk continued maritime safety experts london said doubts had already been expressed about the design called roro ferries such the herald free enterprise the inter governmental international maritime consultative committee issued report saying more roll roll off vessels were lost accidents than ships with deck areas divided bulkheads townsend thoresen say the ship built the west german yard bremerhaven was built the highest safety standards but salvage expert william cooper said passengers would have had problems getting off this type ship because its design former townsend thoresen navigating officer clive langley said the roro type vessels were similar some respects barge any sailor knows only takes two three inches out line and you can turn barge over ordinary ship compartmentalised and you have more stability said cooper said cross channel ferries were normally perfectly stable but had huge wide deck areas above the water level you get water into that area then you can get very severe effects the stability the ship added reuter 
crude	iraq turkey oil pipeline cut landslide turkey oil pipeline near the southern town adana after was cut landslide the hurriyet and anatolian news agencies said little oil was lost the landslide friday night because taps 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 kirkuk field the yumurtalik terminal the turkish mediterranean coast iraq main oil outlet reuter 
ship	brazil seamen continue strike after court decision hundreds marines were alert key brazilian ports after seamen decided remain indefinite strike even after the higher labour court yesterday ruled illegal union leaders said the halt the first national strike seamen years started february and union leaders said they would not return work unless they got pct pay rise shipowners have offered per cent raise which the seamen rejected have nothing lose they want lay off the workers fine but are determined carry with our protest until the end union leader said said they had decided meeting that the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation themselves spokesman for the rio janeiro port said the order send marines take over the ports was given navy minister henrique saboya grounds that ports are areas national security but said there were incidents the strike has cut exports and imports and made estimated ships idle petrol station owners four states also continued their shutdown and there were fears that the combination the two stoppages could lead serious fuel shortage reuter 
crude	ecuador export oil for four months official the suspension ecuador crude oil shipments after earthquake cut oil pipeline will last least four months senior energy ministry official said the official said ecuador could resume exports after repairing section the pipeline which links jungle oil fields lago agrio balao the pacific coast would take about mln dlrs repair the pipeline the official who did not want named told reuters ecuador had enough oil meet domestic demand for about days and would have import crude supplement stocks the earthquake last thursday night registered six the point international mercalli scale the damage the pipeline was severe economic blow ecuador where oil accounts for two thirds total exports and much pct government revenues financially pressed ecuador member the organisation petroleum exporting countries opec was recently pumping about barrels per day bpd crude about bpd above the output quota assigned the cartel another energy ministry spokesman said last year exported average bpd according the central bank however ecuador might build emergency pipeline costing mln dlrs hook with colombian pipeline the first official said estimated could take about days build ecuador squeezed the slide world oil prices had only mln dlrs net international reserves the end january about equal one month imports suspended interest payments january billion dlrs owed about private foreign banks the country total foreign debt billion dlrs the eighth largest latin america caracas president jaime lusinchi said venezuela would loan five mln barrels crude ecuador over the next three months make for losses from damage the pipeline ecuador asked for the loan guarantee domestic supplies and would ship equivalent volume back venezuela repayment may lusinchi said commission headed venezuelan investment fund minister hector hurtado and including representatives from the interior and defence ministries and the state oil company petroleos venezuela will travel ecuador tuesday evaluate and ordinate emergency relief program said reuter 
interest	german government needs seen raising bond yields increased federal government borrowing needs and growing unwillingness foreign investors buy mark assets could push yields german public authority bonds higher this year bond market sources say the moment have sideways movement the short term rates but how rates move the long end will depend strongly foreigners one portfolio manager for large securities investment house frankfurt said the sources also said the government had already stepped its borrowing programme anticipation increased needs friday loan stock was the third this year already the sources noted carried year maturity coupon six pct and price yield pct issue this compared with the last issue which had pct coupon priced pct for yield pct but dealers said the terms were not enough attract foreign investors and the federal government would have push yields higher future wanted borrow again soon sources noted federal government issues had also increased size with the introduction four billion mark volume only starting last may one finance ministry economist said isn more just the size each bond which has increased added conditions the capital market currently remained fairly favourable for raising new debt until recently federal issues sold very strongly abroad with pct some being placed with foreign investors with the recent stabilisation the dollar however foreign investors have begun back away from the market hopes further currency gains marks diminish sources said the government has may have already stepped its borrowing having raised more than billion marks the government made net borrowings billion marks but bundesbank statistics showed that net borrowing through bonds was billion the sources said this indicated move the government out other types debt gain access foreign funds through the more acceptable loan stock form although new credit needs were partly inflated large amount issues maturing recently other factors including the government tax reduction program would also reduce income next year the problem here will the tax reform the portfolio manager said added that the government cut its top income tax rate pct from pct would make difficult for the government reduce borrowings the sources said the government would fall far short covering all its billion marks lost revenue from the tax reform making expenditure cuts and would forced fall back debt markets one form the other the portfolio manager noted that besides the three federal government loan stocks far this year has also fallen back twice raise total billion marks through the issue fixed rate medium term kassenobligation notes finance ministry economist said the government did not expect have any trouble keeping its plan borrow only net billion marks this year though many sources agreed they added that the trend would probably not continue next year the further tax cuts come into effect would expect the efforts for further tax reform would mean government borrowing will increase the manager said bond prices last week were slightly firmer balance with the bundesbank public authority bond yield calculation falling pct friday from week earlier but sources said foreign demand for the new federal government loan stock was slack sentiment grows that the dollar may now rise against the mark the demand wasn good dealer for german bank london said the dollar 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 october the bangladesh trade deficit narrowed billion taka october from billion september and billion october the central bank said imports dropped billion taka october from billion september and billion october exports totalled billion taka october against billion september and billion october reuter 
money-fx	asian dollar assets exceed billion dlrs the asian dollar market continued expand december with total assets and liabilities rising billion dlrs from billion november and billion december the monetary authority singapore said said the increase came mainly from interbank activity with interbank lending rising billion dlrs december from billion november and billion december interbank deposits increased billion dlrs against billion and billion respectively loans non bank customers increased december billion dlrs from billion november and billion december deposits non bank customers rose billion dlrs against billion and billion reuter 
crude	iran selling discounted crude japan traders say japanese customers have bought nearly six mln barrels crude oil from the national iranian oil company nioc substantial discount the official price and western traders have received even larger discounts japanese traders involved the transactions told reuters nioc has sold its crude for march shipment japanese customers with different formulas one company has bought barrels iranian heavy straight discount cents below the official price the sources said other deals have been fixed with prices linked oman and dubai spot prices less discount they said iran discounted sales have not however managed reverse the bullish tone the crude oil and products spot markets oil traders said market sentiment being influenced more the colder weather europe and reports that opec february output was below its self imposed quota mln barrels per day firmer gas oil the london futures and more bullish sentiment 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 processing arrangement will effectively receive discount the sources said just disguised cheating one japanese trader said the sources said only one japanese company had paid the official price for iranian oil has purchased mln barrels iranian heavy for april shipment for refining singapore they said about nine vlccs iranian crude have been sold western traders with pricing based pct the official price and pct spot prices with part the price related processing arrangements 
acq	ici sells stake lister and imperial chemical industries plc ici said had today placed its pct stake lister and plc with messel and and that had now been placed widely among institutions lister manufacturer dyer and finisher cotton silk wool and man made fibres reuter 
money-fx	money market shortage forecast mln stg the bank england said forecast shortage around mln stg the money market today among the factors affecting liquidity said bills maturing official hands and the treasury bill take would drain around billion stg while below target bankers balances would take out further mln against this fall the note circulation would add mln stg and the net effect exchequer transactions would inflow some mln stg the bank added reuter 
crude	amoco reports south china sea oil find the amoco petroleum corp has reported offshore oil find its pearl river basin concession the south china sea the new china news agency said said the liu hua well produced around barrels per day depth metres the news agency said amoco plans drill second well the area this year but gave further details reuter 
interest	national westminster bank says cutting base lending rate pct from pct 
interest	national westminster bank cuts base rate national westminster bank plc said has cut its base lending rate percentage points pct today national westminster said that was responding general easing money market rates its move followed signal from the bank england earlier this afternoon that would endorse half point cut the base rate surprise move following its strong signals last week that such move would premature however since then the pound has continued gain strongly reuter 
earn	facilities usre semi annual dividend semi annual dividend cts pay may record april note full name facilities corp this first dividend declared since company completed its initial public offering november reuter 
acq	standard pacific spf acquires south bay standard pacific said has acquired substantially all the assets and liabilities south bay savings and loan association newport beach the firm said over the weekend that will conduct its savings and loan activities through standard pacific savings federal stock association friday the federal home loan bank board washington said approved the acquisition south bay and mln dlr state chartered stock association standard pacific which has mln dlrs assets the bank board said that the federal savings and loan insurance corp will make cash contribution provide capital loss coverage and indemnify standard pacific against undisclosed liabilities reuter 
acq	piedmont pie agrees usair buyout usair group inc said piedmont aviation inc has agreed acquired for dlrs per share the company newspaper advertisement said has started tender offer for all piedmont shares that price and the piedmont board with two directors absent has unanimously approved the bid the offer and withdrawal rights are expire april three unless extended and the bid followed merger the same price usair said piedmont has granted irrevocable option buy new shares under certain circumstances piedmont now has about mln shares outstanding usair said the tender conditioned receipt enough shares give usair least pct interest piedmont fully diluted basis and approval the department transportation voting trust agreement permitting usair buy and hold shares pending review its application gain control piedmont the company said its merger agreement with piedmont provides that the offer not amended without piedmont prior written consent any way that would adverse piedmont shareholders but said could cut the number shares bought without piedmont consent usair said could reduce the number piedmont shares purchased the offer less than the minimum number needed cause the voting trust condition the bid satisfied that case said more than that minimum number shares were tendered would buy shares pro rata basis february usair had offered pay dlrs per share cash for pct piedmont stock and usair shares for each remaining piedmont share last week carl icahn controlled trans world airlines inc twa made conditional offer acquire usair for dlrs per share bid that was rejected the usair board the transportation department friday rejected twa application acquire usair the grounds that the application failed comply with department regulations omitting necessary information twa said would refile today providing the information needed friday twa said had already acquired four mln shares pct usair reuter 
acq	sosnoff starts bid for caesars world caw mts acquisition corp company formed martin sosnoff said has started tender offer for all shares caesars world inc dlrs each newspaper advertisement mts said the offer and withdrawal rights expire april three unless extended sosnoff new york investor already owns about four mln caesars mln shares outstanding about pct and caesars largest shareholder caesars owns casino hotels nevada and honeymoon resorts pennsylvania pocono mountains also controls caesars new jersey inc cjn which owns atlantic city casino hotel for the second quarter ended january caesars world earned mln dlrs revenues mln dlrs from earnings dlrs and revenues mln dlrs year before for all fiscal the company earned mln dlrs revenues mln dlrs mts said the offer conditioned receipt least enough shares give sosnoff majority interest fully diluted basis the arrangement sufficient financing buy all caesars shares not already owned and pay related costs and approval the new jersey casino control commission and the nevada gaming commission and state gaming control board mts said marine midland banks inc has committed lend mln dlrs for the acquisition and use its best efforts syndicate another mln dlrs senior financing for the transaction said its financial adviser painewebber group inc pwj has stated writing that subject market conditions highly confident that can arrange commitments for mln dlrs mezzanine financing mts said does not expect problems obtaining new jersey and nevada regulatory approval for the acquisition since ownership caesars stake has already been cleared june sosnoff requested seat the caesars world board request that has not yet been granted september sosnoff who chairman atalanta sosnoff capital corp filed for clearance under antitrust laws raise his interest caesars world pct sosnoff said letter caesars world chairman and chief executive officer henry gluck that the decision directly the shareholders was made the urging may financial and legal advisors who repeatedly stressed the lack responsiveness the management the past sosnoff who said has made numerous efforts express his views management ways maximizing shareholder values said caesars twicce refused his request for board seat advisers felt that had given you advance notice you would have used the time throw obstacles offer rather than giving serious consideration said sosnoff said hopes that caesars world management will willing negotiate acquisition agreement with him have indicated publicly the past believe operating management the company has performed well and that appropriate consideration should given significant equity interest for them the company following the acquisition sosnoff said the letter gluck mts said sosnoff has asked the company fix march the record date for the determination shareholders entitled authorize action without meeting including the election removal directors reuter 
acq	trump makes bid for control resorts rtb casino owner and real estate developer donald trump has offered acquire all class common shares resorts international inc spokesman for trump said the estate late resorts chairman james crosby owns the class shares resorts also has about class common shares outstanding each class share has times the voting power class share giving the class stock about pct resorts voting power more 
earn	iomega iomg sets management labor layoffs iomega corp said has laid off over quarter its professional and management staff and nearly half its direct labor force part restructuring and downsizing its business the company also said will receive qualified opinion from the auditors financial statement subject the outcome two suits the company defendant consolidated class action law suit which seeks damages unspecified amount and also defendant related shareholder action iomega said the auditors state their opinion letter that both actions are the early stages discovery and the likely outcome can not determined this time the company said corporate wide reduction its professional management and indirect labor will result the permanent elimination positions all functional areas the company business this represents over pct professional management and indirect employees added addition iomega announced layoff about employees principally from its manufacturing direct labor force those affected represent about pct direct labor commenting 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 required bring our finished goods inventory and inventory our distribution channels down acceptable levels explained the company stated this layoff does not affect the production its new inch beta product which currently being built backlog orders reuter 
ship	brazil seamen continue strike despite court hundreds marines were alert key brazilian ports after seamen decided remain indefinite strike even after the higher labour court saturday ruled illegal union leaders said the halt the first national strike seamen years started february and union leaders said they would not return work unless they got pct pay rise shipowners have offered per cent raise which the seamen rejected have nothing lose they want lay off the workers fine but are determined carry with our protest until the end union leader said more said they had decided meeting that the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation themselves spokesman for the rio janeiro port said the order send marines take over the ports was given navy minister henrique saboya grounds that ports are areas national security but said there were incidents the strike has cut exports and imports and made estimated ships idle petrol station owners four states also continued their shutdown and there were fears that the combination the two stoppages could lead serious fuel shortage reuter 
acq	chrysler take over renault stake american motors says renault 
earn	southern take mln dlr charge projected vogtle cost rise 
acq	applied circuit acrt sells electronics business applied circuit technology inc act said has agreed principal sell its primary computer electronics business the sanpao group san francisco act said has not disclosed the deal terms but added that pct the sale price cash with the remainder paid over two year period the deal expected close march act said act said made the move concentrate resources its pharmaceuticals subsidiaries reuter 
acq	usair acquires pct piedmont pie usair group inc said has acquired piedmont aviation inc shares about pct fully diluted basis from norfolk southern corp nsc the acquisition piedmont usair has been approved the directors both companies usair said has been advised norfolk southern that the company supports the proposed merger and intends tender all its remaining piedmont common shares response usair tender offer which began today this total includes shares issuable upon conversion piedmont preferred usair noted usair said piedmont has about mln common shares fully diluted basis adding its offer conditioned the tender least shares representing pct the oustanding shares diluted basis usair said the new shares has option buy represent pct piedmont currently outstanding shares reuter 
acq	gencorp sell los angeles television station walt disney 
acq	nationwide cellular ncel completes purchase nationwide cellular service inc said has completed the previously announced acquisition privately held nova cellular chicago reseller mobile telephone service with subscribers for about common shares nova cellular has accumulated deficit about dlrs and had revenues about dlrs for said reuter 
interest	national westminster bank cuts base rate national westminster bank plc said has cut its base lending rate percentage points pct today national westminster said was responding general easing money market rates its move followed signal from the bank england earlier this afternoon that would endorse half point cut the base rate surprise move following its strong signals last week that such move would premature however since then the pound has continued gain strongly reuter 
ship	hutchison unit buys container cranes from japan container port operator hong kong international terminals ltd pct held unit hutchison whampoa ltd hwhh said has placed mln dlr order for seven quayside container cranes tons each with japan mitsui engineering and shipbuilding ltd mset for may august delivery hong kong international terminals operates cranes reuter 
ship	bosphorus shipping moves istanbul offices close istanbul remained virtual standstill today under snow meter deep but shipping was moving through the narrow bosphorus waterway linking the sea marmara and the black sea officials said the authorities ordered government offices closed until wednesday many banks businesses and schools stayed shut workers struggled keep main roads and supply lines open this city mln people the second blizzard hit istanbul week stopped yesterday afternoon and the international airport reopened today after two day closure was also shut earlier last week reuter 
crude	ecuador export oil for months official the suspension ecuador crude oil shipments after earthquake cut oil pipeline will last least four months senior energy ministry official said the official said ecuador could resume exports after repairing section the pipeline which links jungle oil fields lago agrio balao the pacific coast would take about mln dlrs repair the pipeline the official who did not want named told reuters ecuador had enough oil meet domestic demand for about days and would have import crude supplement stocks the earthquake last thursday night registered six the point international mercalli scale the damage the pipeline was severe economic blow ecuador where oil accounts for two thirds total exports and much pct government revenues financially pressed ecuador member the organisation petroleum exporting countries opec was recently pumping about barrels per day bpd crude about bpd above the output quota assigned the cartel another energy ministry spokesman said last year exported average bpd according the central bank however ecuador might build emergency pipeline costing mln dlrs hook with colombian pipeline the first official said estimated could take about days build ecuador squeezed the slide world oil prices had only mln dlrs net international reserves the end january about equal one month imports suspended interest payments january billion dlrs owed about private foreign banks the country total foreign debt billion dlrs the eighth largest latin america caracas president jaime lusinchi said venezuela would loan five mln barrels crude ecuador over the next three months make for losses from damage the pipeline ecuador asked for the loan guarantee domestic supplies and would ship equivalent volume back venezuela repayment may lusinchi said commission headed venezuelan investment fund minister hector hurtado and including representatives from the interior and defence ministries and the state oil company petroleos venezuela will travel ecuador tuesday evaluate and ordinate emergency relief program said reuter 
acq	mcdowell merger with interpharm inc mcdowell enterprises inc said has signed definitive agreement acquire pct interest privately held interpharm inc for pct interest mcdowell the company said subject contigencies including future sales and profit levels mcdowell could over four year period acquire pct interpharm exchange for pct mcdowell voting stock said the transaction expected completed within days which time the mcdowell board would restructured include interpharm management reuter 
acq	renault chrysler accord for chrysler buy amc regie nationale des usines renault rena said and chrysler corp have signed letter intent which chrysler plans buy american motors corp amo pct owned renault renault president raymond levy said statement issued the french state car group the agreement was important stage renault redeployment will allow renault continue its export programme the and also opens perspective cooperation with major american constructor the statement said under the terms the letter intent chrysler will purchase renault stake held the form bonds and shares the renault statement quoted chrysler chairman lee iacocca saying welcome amc shareholders into the chrysler family added that the accord would allow renault and chrysler study the development future products destined distributed renault and chrysler the north american and world markets renault leader our industry and happy working with them iacocca was quoted saying chrysler will pay for renault amc interests held bonds mln dlr bond and will pay mln dlrs for renault share interests depending amc sales and future profits the renault statement said the statement said the agreement principle gave each side days put together definitive accord approval would also necessary from the renault chrysler and amc boards from amc shareholders and the relevant government authorities the deal goes ahead the statement said amc shareholders other than renault will receive chrysler shares for each their shares valued four dlrs amc shareholders with convertible preferential shares will have the possibility exchange them for chrysler shares the same conditions those they would have had exchanging them for amc shares reuter 
acq	first boston affiliate acquire allegheny int for dlrs shr 
earn	southern take charge vogtle cost southern said will take after tax charge mln dlrs against earnings later than january because the projected cost the vogtle nuclear power plant has risen abover the amount which retail customers georgia will asked pay the company largest subsidiary georgia power said the budget for the plant has increased pct mln dlrs billion however because pledge the made last year georgia public service commission the increased cost will not included the utility retail electric rates geogia power also said its board has delayed the scheduled completion vogtle unit two june from september unit two about pct complete added the utility said fuel loading has been completed unit one and the unit being put through series low power tests before the nuclear regulatory commission asked for full power license the nuclear power plant located near waynesboro owned oglethorpe power corp the municipal electric authority georgia and the city dalton georgia power said the revised vogtle budget estimate was due several factors including additional labor costs incurred keep the plant first unit schedule for commercial operation june the new figure represents the first change the plant budget since august when was estimated billion dlrs march the utility told georgia regulators would cap the price vogtle its customers would asked pay billion dlrs the company share the then projected billion dlr total under the new budget georgia power said its share amounts billion dlrs noting that georgia power share the vogtle increase mln dlrs southern said this will result charge against earnings mln dlrs after taxes addition the company said georgia power contracts with the joint owners require the utility buy back significant amounts vogtle capacity during the plant initial years operation under terms the cap costs will not attempt recover the portion the budget increase that applies the buybacks this bings the total amount that must charged against earnings mln dlrs after taxes southern said southern said new rules the financial accounting standards board which are effective january require any costs that are determined nonrecoverable charged against earnings once that determination made the company also said its board has approved capital budget billion dlrs including work the vogtle project said billion dlr capita budget for the three year period was also outlined the board meeting noting this mln dlrs below the comparable figure for the years reuter 
acq	stora close completing papyrus takeover sweden stora kopparbergs bergslags skps said had now acquired pct shares rival pulp and paper makers papyrus thus passing the threshold above which can compulsorily buy the rest the company remaining shareholders would have until later this month sell their shares stora the company said statement stora announced last september would acquire papyrus price billion crowns thus forming europe second largest forest group after london based reed international plc reed reuter 
money-fx	money market given late help worth mln stg the bank england said provided the market with unspecified late assistance worth mln stg has given the market total assistance mln stg today compared with liquidity shortage estimated revised mln stg reuter 
acq	white engine bought private investor white engine manufacturer industrial and automotive diesel and gasoline engines with more than mln dlrs sales said has been sold group group investors white engine said the purchase led donald stewart private investment banker along with white senior executives source close the transaction said the purchase prices being set more than mln dlrs the company said will change its name hercules engines inc and stewart will the majority interest owner well the president and chief executive officer addition john lennon current chairman and chief executive officer will remain chairman company said and joseph scheetz currently president will vice chairman according the company reuter 
acq	stora close completing papyrus takeover sweden stora kopparbergs bergslags skps said has now acquired pct shares rival pulp and paper makers papyrus thus passing the threshold above which can compulsorily buy the rest the company remaining shareholders would have until later this month sell their shares stora the company said statement stora announced last september would acquire papyrus price billion crowns thus forming europe second largest forest group after london based reed international plc reed reuter 
acq	allegheny int first boston set merger allegheny international inc said has entered into agreement merge with affiliate first boston inc fpc first boston corp transaction valued about mln dlrs allegheny said the agreement calls for holders its common receive dlrs share holders the company dlrs cumulative preference shares will receive dlrs share and those owning its dlrs convertible preferred will receive dlrs share allegheny international said the agreement calls for the first boston affiliate start cash tender offer for all outstanding shares allegheny common cumulative preferred and convertible preferred the company said first boston has committed provide all financing necessary acquire such securities the tender offer which estimated about mln dlrs said the agreement also subject the waiver march certain conditions under the company existing bank credit agreement allegheny international statement did not name describe the first boston affiliate involved the agreement did say the offer for the company stock will conditioned also the valid tender securities representing least majority the voting power for the election directors the company and the valid tender least two third the outstanding cumulative preferred and convertible preferred shares reuter 
acq	chrysler says amc holders get chrysler stock worth four dlrs share under buyout plan 
earn	continental bank canada sets distribution continental bank canada subsidiary lloyds bank plc lloy said intends redeem all existing preferred shares and distribute stock dividend common shareholders the initial distribution will cumulative redeemable retractable floating rate class preferred shares series which will carry retraction right enabling holders receive dlrs for each share continental said the mln dlrs existing outstanding preferred shares will paid off par plus accrued dividends continental said the notes will carry dividend rate pct prime and expects that the shares will trade dlrs more enabling shareholders who wish receive cash the bank said expects the distribution will made early may subject various approvals continental also said that march had cash more than mln dlrs and equity about mln dlrs allowing for final total distribution dlrs per common share continental bank said continues expect that the final distribution shareholders will the range dlrs dlrs per share and will take place late early until the initial stock distribution takes place regular dividend payments will maintained the existing preferred shares the bank said the distribution part the terms continental bank canada sale its banking assets lloyds bank canada subsidiary lloyds bank plc continental bank said lloyds bank canada paid the balance the purchase price but that was lower than originally anticipated since continental was unable transfer certain income tax deductions lloyds bank continental did not give further details more 
trade	study says canada pact would spur economies free trade pact between the united states and canada could spur the economies both sides substantially according study released the institute for international economics the study paul wonnacott said successful conclusion the free trade talks now under way could raise canada gross national product more than five pct and expand export about seven pct said the pact could resolve the knotty issue government subsidies end curbs trade services and investments and pave the way for new global talks under the general agreement tariffs and trade the united states and canada the world two biggest trading partners with cross border shipments about billion dlrs year opened free trade talks last june they are aiming for pact next october wonnacott economics professor the univerity maryland said agreement should include elimination tariffs between the two countries phased over five year period equal access federal government procurement the two countries replacing current buy america and buy canada provisions with buy north america provision fewer restrictions trade services chiefly finance and transportation commitment not screen foreign investments favor domestic producers commission resolve bilateral trade disputes wonnacott said that resolve the subsidy problem the two sides should permit export subsidies exports pct without imposing coutervailing duties the limit subsidies now pct proposed that any attempt impose new duties offset subsidies should first special disputes commission for resolution early stage wonnacott said bilateral free trade would contribute the efficiency the north american economies and their competitiveness facing overseas producers said would would open markets canadian goods and enable them benefit from the economies mass production benefits the united states would fewer than those canada proportionately said because the already large gross national product wonnacott said also that canada pact such areas export subsidies and the creation dispute commission could set example for the current attempt gatt write new and more liberal global trading regulations reuter 
earn	gulf resources gre have gain stock sale gulf resources and chemical corp said has sold shares imperial continental gas association for pence share mln stg private transaction for pretax gain about mln dlrs gulf resources said still owns mln shares imperial continental pct interest and continues study various alternatives reuter 
acq	donald trump said has agreed purchase crosby estate resorts shares 
acq	bsn bsn share sale advances bsn corp said its agreement sell new common shares pct interest unaffiliated european institutional investors for mln dlrs has become definitive the company said closing expected shortly after the filing registration statement with the securities and exchange commission which expected made this month reuter 
acq	gencorp unit sell los angeles station gencorp said its rko general subsidiary agreed sell khj los angeles walt disney dis for mln dlrs cash plus working capital and other adjustments closing the company said under the agreement principle rko application renew the station broadcast license would dismissed and the competing application fidelity television would granted disney would then acquire privately held fidelity for about mln dlrs and other adjustments renewal the khj license has been challenged regulatory proceedings for more than years the deal subject prior approval the federal communications commission the company said late gencorp cut deal with fidelity los angeles investor group and westinghouse electric corp settle the license proceedings and sell khj for mln dlrs pct which would westinghouse and the remainder fidelity but jan westinghouse withdrew from the deal because the fcc would not approve early gencorp and rko agreed sell wor secaucus mca inc mca for mln dlrs the fcc has approved the transaction but several parties have appealed the fcc has not said when would rule the appeals according spokemsan for akron ohio based gencorp fidelity television originally filed competing application for the rko license for khj independent station the fcc disqualified rko licensee wnac boston citing anti competitive trade practices and inaccurate financial reporting the agency causing renewals previously granted rko new york for wor and los angeles for khj denied reuter 
interest	barclays bank said cutting base lending rate pct from pct 
interest	midland bank said cutting its base rate pct from pct 
acq	imatron imat sells stake mitsui mitsy imatron inc said mitsui and ltd japan has purchased two mln dlr equity interest imatron market price and was granted day option make another two mln dlr investment the same price imatron said mitsui the exclusive importer imatron ultrafast computed tomography scanners into japan scheduled take delivery its first scanner next month for installation large cardiology center said has entered into preliminary discussions with mitsui the formation joint venture finance the accelerated development imatron technology and its commercialization japan reuter 
earn	robins qrah january earnings robins the drug company bankruptcy proceedings due litigation over its dalkon shield contraceptive device reported consolidated net earnings for the month ended january mln dlrs the corresponding year ago period reported net earnings mln dlrs robins said the filings were made with the trustee overseeing its chapter bankruptcy case reuter 
interest	barclays midland follow natwest base rate cut barclays bank plc bcs and midland bank plc mdbl said they are cutting their base lending rates pct from pct the cuts follow similar move national westminster bank plc nwbl the rate changes take effect tomorrow reuter 
acq	control data cda buy peripherals stake control data corp said agreed acquire unisys inc uis pct stake magnetic peripherals inc the letter intent provides that unisys converts from owner magnetic peripherals customer control data data storage products group over two year period under the agreement control data will continue furnish disk drives unisys said other details the proposed agreement were available magnetic controls managed the data storage products group control data was founded joint venture maintain technological base data storage and supply peripheral equipment for the computer systems its owners the venture has become developer and manufacturer high performance high capacity data storage products sold control data computer systems manafacturers worldwide said after conversion the unisys interest control data will own pct honeywell inc hon pct and bull france six pct said reuter 
acq	donald trump buy crosby resorts rtb stock casino hotel operator and real estate developer donald trump said has agreed purchase the class common stock resorts international inc held the family and estate late resorts chairman james crosby for dlrs per share trump said also considering tender offer for remaining class shares the same price but has interest resorts class shares trump said the shares has agreed already buy represent pct interest the class stock the estate itself owns the class shares there are also about class shares outstanding but trump said have interest the class shares each class share has times the voting power class share atlantic city resorts said statement that the class shares being sold trump represents pct the combined voting power resorts said closing dependent receipt necessary regulatory approvals and other matters and after closing trump will tender for remaining class shares the same price reuter 
acq	usair wins court order against twa twa usair group inc said district court pittsburgh issued temporary restraining order prevent trans world airlines inc from buying additional usair shares usair said the order was issued response its suit charging twa chairman carl icahn and twa violated federal laws and made misleading statements twa last week said owned pct usair shares also offered buy the company for dlrs share cash billion dlrs more 
acq	grease monkey gmhc gets rejects merger offer grease monkey holding corp said has received and rejected unsolicited merger offer from jiffy lube international inc lube the company said the proposal involved exchange grease monkey common stock for combination jiffy lube securities with estimated current value substantially below grease monkey current market price said will not disclosed details reuter 
acq	chrysler deal buy amc amo chrysler corp said agreed principle with french state owned renault acquire american motors corp which renault controlling shareholder under deal which amc stockholders other than renault would receive chrysler common stock with market value four dlrs for each amc common share they hold chrysler said the letter intent for the deal which needs government and amc shareholder and board approval provides that amc holders will receive not more than less than share chrysler common for each share amc common they hold more 
interest	barclays midland follow natwest base rate cut barclays bank plc bcs and midland bank plc mdbl said they are cutting their base lending rates pct from pct the cuts follow similar move national westminster bank plc nwbl the rate changes take effect tomorrow the base rate reductions came after the bank england cut its dealing rates this morning signal the money markets that would not resist half percentage point drop bank base lending rates market sources said until the end last week the central was holding out staunchly against market pressures for lower rates apparent effort preserve the expected rate cuts for around the time the government annual budget march sterling remained firm around dlrs compared with its close here friday dlrs reuter 
acq	dixie yarns dxyn acquire caro inc dixie yarns inc and caro inc jointly said they signed merger agreement calling for dixie acquire all caro stock exchange for three mln dixie common the companies said the previously announced merger has been approved caro board and expected close early april they said the revenues the combined companies will over mln dlrs and dixie said the merger will not dilute its results caro was taken private management led leveraged buy out reuter 
ship	gale force winds buffet great lakes the national weather service said warnings gale force winds remained effect over lakes erie huron and michigan also warnings have been posted for large waves and beach erosion along the shores the lakes winds gusting mph caused four six foot waves along the western and southern shores lake michigan during the morning advisories for low wind chill temperatures have also been posted across portions upper michigan and northern lower michigan early morning gusty winds brought the wind chill and degrees below zero freezing rain was scattered over central colorado 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	issues one billion stg bond tranche the bank england said was taking onto its books further one billion stg tranche pct treasury loan stock due payable stg pct application the stock was issued the bank stg pct and will available for dealings from march with the remainder the amount payable may the bank said the bonds would yield pct the issue price and would free tax residents overseas the issue would designated pct treasury loan further mln stg was reserved for the national debt commissioners the market dropped point following the bank announcement with the treasury pct stock due quoted one full point lower stg pct around minutes after the news dealers said the announcement had viewed against the backdrop intense pressure for lower interest rates which had built over the past two weeks result sterling strength the bank this morning finally signalled was prepared see lower rates and clearing banks this afternoon announced cuts their base lending rates pct from pct the bank had initially been reluctant countenance rate cut because dealers said the authorities had wished delay reduction until around the time the budget march thereby preserving the full impact chancellor the exchequer nigel lawson package measures however the face sterling apparently inexorable climb the authorities today decided cede pressure and allow half point cut today one billion stg tap issue was viewed the market move the bank eradicate hopes for further early rate cut which might arise result strong sterling most market participants believe that lawson will now foster further half point interest rate reduction the time the budget although one two said they would not surprised see full point decline this stage dealers noted that part the authorities attempts last week ease pressure for lower rates the bank had issued one billion stg tap stock with view subduing the government bond market the surprise most participants the issue was sold out within hours becoming available for trading and the market pushed register further sharp gains dealers said that this stage seemed unlikely that the issue announced today would absorbed the market rapidly last week however they noted that although sterling had edged down from its highs following the base rate cut had still closed trade weighted basis well ahead friday final and only just beneath the peak touched gmt reuter 
acq	amc says studying chrysler buyout proposal and will comment when appropriate 
crude	petro canada drill two terra nova test wells petro canada canada state owned oil company said will drill two delineation wells this summer the terra nova oil field offshore newfoundland evaluation test results and preliminary engineering work should put petro canada position propose development plan for the terra nova field the company said depending time required for regulatory approvals construction could begin with first oil production early petro canada said have high degree confidence that the western portion the terra nova field contains least mln cubic meters recoverable oil more than mln barrels and that could produce economicly using floating production system petro canada said the terra nova field lying kilometers east john and kilometers southeast hibernia field was discovered petro canada had encouraging results from the eastern portion the field and hope this summer drilling will prove additional reserves there the company said petro canada believes terra nova field good commercial prospect and the company wants move some those resources towards development can start generating return investments petro canada said petro canada which will act operator the two wells has pct interest the western portion graven block the terra nova field and pct interest the field east flank block 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 the terra nova field graven block between mln and mln barrels oil company spokesman bob foulkes said from petro canada calgary office combined reserves for graven block and the field east flank block are estimated between mln and mln barrels added petro canada expects spend about mln canadian dlrs bring the field production about and the development budget could double the company builds production system combining both blocks the field said petro canada estimates the terra nova field graven block would produce between and barrels average daily production with production system that would have maximum capacity bpd company spokesman foulkes said answer query the company estimates production system combining both graven and east flank blocks the terra nova field could produce about bpd average daily production said reuter 
earn	charan sees least pct rise profit charan industries inc distributor toys and other consumer products expects net profit rise least pct over last year mln dlrs president earl takefman told reporters before the annual meeting grew basically pct last year not sure going able grow pct again this year but certainly will grow least pct over last year takefman said charan reported profit mln dlrs takefman said expects sales rise about mln dlrs this year from mln dlrs fiscal ended september while fiscal ended november takefman said the company actively looking for acquisitions the consumer products industry likely canada the company said expects resolve delivery problems this year which last year hindered the growth its toy distribution business which accounts for about one third revenues charan the exclusive distributor canada for worlds wonder toys which include the teddy ruxpin voice activated talking plush bear takefman said new products this year which will the shelves for christmas include smaller version teddy ruxpin talking mickey mouse toy dancing plush toys doll with voice activated sound touch light and heat and talking books the company also marketing extended line laser tag kits which shoot rays light and tell you when you hit someone other products include recorder device which allows students leave taped messages 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 increase more than pct compared sales mln dlrs the comparable quarter last year the company said sales for the first six months the year were mln dlrs more than pct above the mln dlrs reported the same period last year this was the consecutive quarterly gain the company said the company said expects release earnings april reuter 
interest	barclays midland follow natwest base rate cut barclays bank plc bcs and midland bank plc mdbl said they are cutting their base lending rates pct from pct the cuts follow similar move national westminster bank plc nwbl the rate changes take effect tomorrow the base rate reductions came after the bank england cut its dealing rates this morning signal the money markets that would not resist half percentage point drop bank base lending rates market sources said until the end last week the central was holding out staunchly against market pressures for lower rates apparent effort preserve the expected rate cuts for around the time the government annual budget march sterling remained firm around dlrs compared with its close here friday dlrs reuter 
acq	united auto workers union says supports chrysler amc merger 
interest	lloyds bank matches base rate cut pct lloyds bank plc lloy said cutting its base lending rate pct from pct effective tomorrow the reduction follows similar moves from the three other british clearing banks national westminster bank plc nwbl led the way this morning after the bank england lowered its dealing rates signal that would tolerate half percentage point reduction the central bank surprise signal followed its strenuous efforts last week prevent market forces from bringing down base rates before the budget march reuter 
acq	norcros breaks off merger talks with williams norcros ncro plc said has intention proceeding any further with talks williams holdings plc suggestion that there would benefits arising from merger between the two groups norcros said any such benefits could achieved through normal trading and did not warrant closer formal association norcros shares firmed after the news investor speculation possible hostile bid from williams dealers said williams rose williams earlier informed norcros that holds some its ordinary shares pct those issued reuter 
interest	lloyds bank matches base rate cut pct lloyds bank plc lloy said cutting its base lending rate pct from pct effective tomorrow the reduction follows similar moves from the three other british clearing banks national westminster bank plc nwbl led the way this morning after the bank england lowered its dealing rates signal that would tolerate half percentage point reduction the central bank surprise signal followed its strenuous efforts last week prevent market forces from bringing down base rates before the budget march reuter 
interest	lloyds bank matches base rate cut pct lloyds bank plc said cutting its base lending rate 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 england lowered its dealing rates signal that would tolerate half percentage point reduction the central bank surprise signal followed its strenuous efforts last week prevent market forces from bringing down base rates before the budget march reuter 
interest	french week bill average rate falls pct from pct official 
acq	amc amo studying chrysler proposal american motors corp said studying proposed merger with chrysler corp american motors said received letter from chrysler corp advising their proposal enter into merger transaction with american motors corp brief statement the company said are studying the proposal will have further comment when appropriate reuter 
acq	wall street stocks american express axp american express stock fell sharply reflecting part investors disappointment that the company did not make announcement about its plans for brokerage unit shearson lehman brothers traders said the company has said studying options for its shearson unit traders said many investors anticipated announcement this weekend that would spin off shearson lehman also they said flurry arbitrage related sell programs that pounded the general market today accelerated the selloff american express component the dow industrial average american express fell was part programs and part that there was anticipation announcement spinoff something with shearson this weekend and that announcement never happened one trader said the last few minutes trading friday another trader said the stock jumped close largely anticipation that the company would make weekend announcement reuter 
crude	amoco first south china sea exploratory well flows barrels oil daily 
acq	uaw says back chrysler amc amo merger the united auto workers uaw union said supports chrysler corp proposal buy american motors corp creating good match that potentially points the way more secure future for workers both companies believe our members interests can well served within the chrysler family and are committed making that happen uaw president owen bieber and vice president marc stepp said statement believe chrysler purchase logical and sound step for all concerned the union said the uaw negotiating with amc over the carmaker demand for economic concessions covering workers its wisconsin operations without which amc has said would cease vehicle production its kenosha wisconsin assembly plant reuter 
acq	twa twa declines comment usair transworld airlines inc official said the airline has comment usair group inc planned buyout piedmont aviation inc twa however has pursued its application with the department transportation for takeover usair according mark buckstein twa general counsel and vice president twa filed revised application today following the dot rejection friday incomplete application filed last week earlier usair said agreed buy piedmont for dlrs cash per share 
acq	moody may downgrade piedmont aviation pie moody investors service inc said may downgrade mln dlrs debt piedmont aviation inc because the airline agreement acquired usair group inc the rating agency said its review would focus the effect the acquisition piedmont financial leverage and its debt service requirements moody said also examining the potential use the airline borrowing capacity finance the merger piedmont currently carries baa preferred stock and prime commercial paper reuter 
acq	usair and unit remain under moody review moody investors service inc said the mln dlrs debt usair group inc and its usair inc unit remain under review for possible downgrade the rating agency cited usair group proposed acquisition piedmont aviation inc pie well trans world airlines inc twa proposed cash merger with usair however the status twa bid for usair group currently uncertain the transportation department has rejected twa application acquire usair deficiency grounds but twa has said will file revised application moody noted under moody review for possible downgrade are usair group baa senior debt and baa subordinated debentures along with the usair unit senior debt and baa subordinated debentures moody said would examine the effects the proposed mergers usair group financial measurements well potential damage the company financial flexibility because the probability increased debt service requirements reuter 
money-fx	fed sets billion dlr customer repurchase fed says 
earn	bally bly take mln dlr qtr charge bally manufacturing corp said expects charge earnings the first quarter this year mln dlrs result its deal buy back mln its common shares from real estate developer donald trump 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 deductible for federal income tax purposes under february deal bally agreed buy mln the mln shares held trump dlrs share mln dlrs while trump agreed not try seek control bally the agreement also calls for bally pay trump another mln dlrs for certain agreements claims and expenses related his purchase the bally common stock bally said trump agreed not buy any more bally stock try seek control the company for years said bear stearns and inc signed similar standstill agreement with bally for three years bally said but can still deal bally stock broker said the deal also obligates bally buy trump remaining stake the company for dlrs share the stock price does not reach that level february said reuter 
crude	shell canada said raised crude prices canadian cts barrel today 
acq	court rejects buitoni appeal over iri food unit appeal buitoni spa against court ruling that accord under which was acquire italian state food firm sme societa meridionale finanziaria was not contractually binding has been rejected court officials said appeal court rejected buitoni claim that the billion lire accord with the state industrial company iri istituto per ricostruzione industriale was binding contract the decision upholds court ruling last july buitoni controlled cir compagnie industriali riunite investment company itself controlled ing olivetti spa oliv chairman carlo benedetti reuter 
acq	allegheny aims divest more businesses allegheny international inc the consumer products concern that today announced merger agreement with first boston corp fbc affiliate deal worth about mln dlrs said intends divest more units way increase profits going reduce size consistent with our financial resources said chairman oliver travers have made conscious strategic choice become smaller financially sound consumer products company which operates predominantly the stable political and economic environment north america said 
acq	advanced tobacco atpi merger talks end advanced tobacco products inc said has ended talks being acquired sterling drug inc sty but has resumed acquisition talks with other parties the company had previously announced that major based company that did not identify was evaluating its nicotine technology advanced said sterling board has decided not enter the nicotine product market said received dlr payment deal exclusively with sterling through march six advanced said had suspended merger talks with other parties result the exclusivity agreement reuter 
acq	fitness rfit buys livingwell unit fitness inc said agreed buy livingwell inc manufacturing unit powercise international inc for mln fitness shares valued about mln dlrs this acquisition includes all livingwell rights its recently announced powercise fitness equipment separate transaction livingwell inc operator health clubs placed six mln dlrs order with powercise international install the powercise equipment all its clubs reuter 
acq	bankamerica bac completes mortgage unit sale bankamerica corp bank america unit said completed the previously announced sale bankamerica finance ltd bank ireland for expected pre tax gain mln dlrs bankamerica finance provides residential mortgages south east england its total assets the end 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 wholly owned subsidiary the royal dutch shell group said that raised crude oil prices about canadian cts barrel today the increase riased its posted price for light sweet crude oil dlrs barrel from its march one level light sour crudes were raised dlrs barrel the company said reuter 
interest	world bank bring borrowing forward this year the world bank intends bring borrowing forward into the first half because expects global interest rates rise year end world bank vice president and treasurer eugene rotberg said told news conference that rates the japan west germany and switzerland were near their lows the weight opinion that year from now there higher probability there will one pct higher than one pct lower interest rates said the world bank had not issued floating rate notes far this year because the expectation higher interest rates the policy the world bank was maintain liquidity level that gave the bank flexibility decide when where and how much borrow rotberg said cash hand was now about pct the next three years anticipated net requirement and comprised pct outstanding debt and pct its debt maturing within five years although the world bank had pioneered the swap market did not intend launch new financial instruments just for the sake innovation rotberg said total billion dlrs debt outstanding only some eight billion had been swapped into another currency many recent innovations were either unfair investors unfair borrowers until the world bank was confident that this was not the case would not adopt new instruments the world bank would raise pct the funds needed over the next year with methods used before rotberg said however for some pct new requirements the bank would try out new instruments such bonds with warrants the world bank had publicly offered bonds germany since the first issue was launched said 
earn	servicemaster svm sets quarter distribution servicemaster approved second quarter cash distribution cts payable april record march previously servicemaster said would pay indicated cash distribution dlrs share including cts share which would paid before april other action the company set may eight the date its annual shareholders meeting reuter 
acq	wall street stocks chrysler amc amo the proposed mln dlr deal under which chrysler corp would acquire american motors corp was described analysts reasonable deal for both companies ronald glantz montgomery securities said amc common stock could fairly valued just under five dlrs share given changes brought tax reform and that chrysler offer pay four dlrs share chrysler stock amc holders other than renault good price for chrysler amc common shares opened four dlrs this morning after the renault chrysler announcement while chrysler shares lost though amc issued statement saying that was studying the proposed buyout and had other comment glantz said regarded the proposal done deal because can believe anybody else would make bid 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 sales will because buyers will have more confidence that the manufacturer will still around service the products glantz said analyst thomas grady said chrysler would getting more manufacturing capacity including brand new plant canada for bargain price and renault would getting some return after its prolonged loss making investment amc reuter 
trade	koreans buy billion dlrs goods south korean foreign trade minister rah woon bae said his country firms have agreed buy billion dlrs worth goods during his two week buying trip the united states rah said most the purchases represented shifts from japanese firms firms part south korea effort reduce its seven billion dlr trade surplus with the united states south korea has five billion dlr trade deficit with japan reuter 
crude	fitzwater says reagan strongly against tax hike white house spokesman marlin fitzwater said president reagan record opposing tax hikes long and strong and not about change opposed tax increases will fight tax increases will deal with politically every forum possible said fitzwater when questioned about whether there was any change the administration position fitzwater said reagan strong feelings against tax hike included opposition oil import fee the president position that opposed said reuter 
acq	supermarkets general sgl gets unsolicited bid supermarkets general corp said received unsolicited proposal from third party acquire the company dlrs per share cash supermarkets also said retained shearson lehman brothers inc advise its board directors the proposal supermarkets general currently has about mln shares outstanding its stock currently trading the new york stock exchange the woodbridge supermarket operator over supermarkets and other specialty retail stores convenience food stores and drug stores for the nine months ended november supermarkets reported net income mln dlrs reuter 
acq	sharon steel corp extends exchange offer sharon steel corp said extended from march six march the expiration date for its debt exchange offer allow time complete the sale its mueller brass unit and meet other conditions the offer the exchange offer covers sharon outstanding pct subordinated sinking fund debentures due and its pct subordinated sinking fund debentures due sharon said that march six pct the pct notes and pct the pct notes were tendered the mueller sale conditioned receipt pct the notes reuter 
ship	ferry disaster claims could top mln stg insurers could face more than mln stg insurance claims following the zeebrugge ferry disaster spokesman for lloyds london said could take weeks before the extent the compensation claims for passengers crew and cargo was known and also before was known how much any the ship could salvaged said david larner lloyds the hull and machinery the herald free enterprise were valued mln stg and were insured townsend thoresen parent company peninsular and oriental steam navigation plc porl the vessel was turn reinsured the london market with lloyds and various other companies larner said passengers crew and cargo were insured the standard steamship protection and indemnity association one several shipowners mutual insurance funds worldwide these were also underwritten lloyds and other companies larner said claims from passengers could expected total least five mln stg given the number deaths and the normal level liability set the athens convention between stg and case death shipping sources said however that these claims could soar court found there was negligence design faults involved larner said estimates compensation claims were pure guess work this time but the ship could not salvaged the claims would total least mln stg shares insurances the london stock exchange fell across the board generally weak market general accident fell royal insurance dropped and prudential fell and shares stood late lower the day reuter 
interest	citibank follows base rate cut pct citibank said has cut its british base lending rate pct from pct with effect from tomorrow this move follows similar cuts four major british clearing banks led national westminster bank plc nwbl lower rates were signalled the bank england this morning attempt curb recent upward pressure the pound market sources said reuter 
money-fx	bank zambia pays out foreign currency arrears the bank zambia has paid out foreign exchange arrears from three auctions conducted last year bank spokesman said 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 private firms since suspended the weekly auctions january has said the auctions were suspended because planned introduce modified system after talks with the world bank and the international monetary fund president kenneth kaunda announced last month that the auction would retained for allocating foreign exchange approved private sector bidders but would not used determine the kwacha exchange rate last week said the auction had run into trouble because shortage foreign exchange the government has fixed the exchange rate nine kwacha per dollar effectively revaluing the kwacha pct reuter 
acq	investors have pct datarex systems drx small investor group led melvyn gelch providence surgeon told the securities and exchange commission has acquired shares datarex systems inc pct the total outstanding common stock the gelch group said bought the stake for about dlrs for investment purposes only reuter 
acq	investor has technology development tdcx stake leon greenblatt chicago investor told the securities and exchange commission has acquired shares technology development corp pct the total outstanding common stock greenblatt said bought the stock for dlrs soley investment and has intention seeking control the company reuter 
acq	analyst says dart group likely bidder for supermarkets general 
acq	harris cuts cyclops cyl stake pct harris associates chicago investment advisory firm said cut its stake cyclops corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission harris said sold cyclops common shares between jan and march prices ranging from dlrs share harris said its dealings cyclops common stock were made behalf its advisory clients reuter 
acq	chrysler values amc amo mln dlrs chrysler corp said valued its proposed buyout american motors corp mln dlrs not counting the effect contingent payment that could reach mln dlrs based amc future profits chrysler spokesman told reuters that the letter intent signed with renault amc controlling shareholder with pct direct stake includes provision for renault paid mln dlrs cash for amc finance subsidiary and mln dlrs the form eight pct note said did not know the maturity the note reuter 
earn	advo system inc advo sees break even qtr advo system inc said could report break even second quarter ending march compared with loss mln dlrs cts share fiscal second quarter ended march advo said previously announced would report net loss for the quarter reuter 
earn	canadian pacific ltd qtr oper net cts cts 
acq	grandview acquires control ticket group consolidated grandview inc said acquired pct stake all ticket group plc london for undisclosed terms the seller was also undisclosed all ticket special events travel company with exclusive european rights ual inc ual united airlines apollo system booking all united airlines flights britain and europe all ticket and its subsidiaries will also sponsor various events this year including the british open golf tournament and rowing henley regatta its revenues totaled mln canadian dlrs reuter 
acq	united cities ucit makes acquisition united cities gas said has acquired lyle propane gas cairo propane gas distributor for undisclosed terms said lyle has sales about four mln gallons annually and serves about customers seven counties southwest georgia and north florida reuter 
interest	bill auctions seen pct the treasury weekly auction expected produce average rate pct for three month bills and one pct for six month bills dealers said shortly before auction time the new bills the rate the outstanding three month bills was unchanged pct bid while the rate the six month bills was one basis point higher pct bid reuter 
earn	medical properties mpp sets monthly dividend the board medical properties inc said has declared initial monthly cash dividend cts share and has adopted monthly dividend policy the initial dividend will payable april shareholders record march reuter 
ship	london grain freights wheat ria luna norrkoping and djuron mexico dlrs option loading uddevalla cents less continental reference new york grain freights march brokers say the charterer the saturn from gulf japan reported nordstrom and thulin while the antigone reported have been arranged from tilbury the black sea soviet charterers reuter 
earn	immucor blud splits stock immucor inc said its board directors has declared five for four stock split the form pct stock dividend payable april shareholders record march reuter 
ship	bermuda star line bsl make acquisition bermuda star line inc said has agreed principle acquire passenger liberte from barnstead shipping ltd for use its new york montreal northeast passages cruises starting this summer the company said working conclude lease financing other financing for the purchase the ton vessel which delivered early april and renamed canada star terms were not disclosed reuter 
acq	talking point caesars world caw mts acquisition corp dlr per share offering price for caesars world inc thought much too low and likely attract other suitors for the hotel casino company industry analysts said think someone else will probably come they mts will have raise their bid said marvin roffman analyst janney montgomery scott inc mts company formed martin sosnoff caesars world largest shareholder today began tender offer valued mln dlrs for all shares sosnoff doesn already own think the offer too low least five points said roffman who described caesars world the operator one the finest casinos the world sosnoff new york investor already owns pct caesars world mln shares following news the tender offer caesars world shares were trading caesars world spokesman said the company was declining comment the sosnoff move for the moment but caesars may issue public statement after has studied the offer roffman said caesars world has considerable growth potential and forecasting fiscal earnings two dlrs per share caesars world owns casino hotels nevada and honeymoon resorts pennsylvania pocono mountains also controls caesars new jersey inc cjn which owns atlantic city casino hotel for its fiscal year ended july caesars world reported net income mln dlrs dlrs per primary share the company reported second quarter net income mln dlrs cts per share compared with income mln dlrs cts per share year earlier daniel lee analyst drexel burnham lambert inc said that although sosnoff relatively low bid may attract other suitors willing pay higher price for caesars there little likelihood that competing bid would start battle for the company 
acq	allegheny officers run company allegheny international inc said its chairman and chief operating officer will remain their positions following the merger the company with affiliate first boston corp expected that oliver travers will continue chairman president and chief executive officer and thomas albani will continue chief operating officer said allegheny spokesman allegheny today said agreed buyout from first boston dlrs per share the transaction was valued mln dlrs its stock rose active trading reuter 
acq	gas makes recommendation tractebel offer imperial continental gas association icgs gas said its board not making recommendation the partial tender offfer per share announced tractebel and groupe bruxelles lambert the same time however the board would not recommend general offer for all the shares price the statement added shareholders wondering whether tender either the tractebel consortium the rival per share partial offer from shv holdings should consult professional advisers reuter 
acq	nat healthcare nhci sell five hospitals national heathcare inc said signed agreement sell five rural hospitals private corporation for about mln dlrs including the assumption six mln dlrs debt the company said plans complete the sales which are subject various regulatory approvals the end july national healthcare said expects material gain loss the sales and that substantially all proceeds will used reduce debt reuter 
earn	canadian pacific confirms earnings canadian pacific ltd said fourth quarter operating profit rose mln dlrs cts share from mln dlrs cts share year ago the statement confirmed released preliminary earnings figures the company released february mln dlr gain the sale cominco ltd interest helped raise final fourth quarter profit mln dlrs cts share the company said drop full year operating profit mln dlrs from restated mln dlrs was due mainly lower world oil prices the company said its rail division reported net income mln dlrs compared with mln dlrs said grain traffic recovered from drought affected levels year ago but was offset weakness other traffic areas and increased expenses said the net loss from its soo line increased mln dlrs loss from mln dlrs loss mainly due restructuring charges canadian pacific said favorable developments during the year included reduced bulk shipping losses result recovery tanker markets and turnaround the forest products sector reuter 
earn	ford shares rise higher earning estimate ford motor stock rose after analyst maryann keller furman selz mager dietz and birney raised earnings estimates the company traders said keller said that she expects the company earnings rise between dlrs share compared dlrs share earned last year she said ford already good market share expected remain favorable and earnings from overseas are expected improve addition keller said the company selling more its expensive model cars which are more profitable the non automotive operations including ford motor credit are also expected post improved earnings this year keller said she expects the company split its stock and raise its dividend least three dlrs share this year she noted that chrysler corp announcement merger proposal for american motors corp amo should have short term effect ford but could cut into ford share the truck market the long term reuter 
earn	dutch retailer ahold sees unchanged profit dutch food retailer ahold ahln expects unchanged profits but said will take advantage the lower dollar expand further the turnover will grow but net profits are expected remain around the level mln guilders due higher dutch taxes and three year expansion plan ahold chairman albert heijn told news conference the profit forecast allows for dollar rate around current levels just over three guilders turnover and net profit were hit the dollar which fell average guilders from reuter 
earn	pitt des moines pdm gets qualified audit pitt des moines inc said will receive qualified opinion from auditors its and financial statements said the qualification related its inability determine the effects any the final resolution suit filed against washington public power supply system the suit was dismissed lower court action but the ultimate outcome the matter still uncertain since washington public power has appealed the court appeals reuter 
acq	reading rdgc sell philadelphia properties reading said has agreed principle convey properties owns and around the philadelphia convention center site the city philadelphia and the philadelphia convention center authority said exchange will receive about mln dlrs cash rights acquire acres adjacent the philadelphia international airport and option acquire the development rights over the gallery shopping mall market street downtown philadelphia reading said will responsible for the demolition and cleanup certain the properties for which portion the cash proceeds will escrowed the company said will continue own and operate the reading terminal market philadelphia the land giving amounts about seven acrease and includes part the reading terminal train shed said reuter 
acq	montedison acquires arco research unit montedison spa moni has acquired pct stake plant cell research institute pcri california from atlantic richfield arc for several tens millions dollars senior montedison executive said renato ugo member montedison management committee told reporters that stanford research institute international menlo park california had acted partner the purchase itself acquiring stake pcri under pct pcri based dublin california has biotechnology research laboratory ugo said the price paid included outlays for the laboratory technology and staff said other negotiations were under way with biotechnology companies the health care and diagnostics sectors through montedison health care subsidiary erbamont but gave details hope they will concluded the year end said montedison currently invests around billion lire year biotechnology research and expects increase this figure around billion lire the next few years reuter 
ship	europe shipping exports africa off pct the volume european exports south africa carried container line vessels has declined pct the last two years british shipping executive antony butterwick said butterwick told reporters that despite the drop and low freight rates the shipping conference heads will increase the frequency sailings south africa very strong act faith and confidence the country future chairman the europe south and south east african conference lines and joint managing director and containers ltd statement issued the conference here said frequency southern africa europe container service sailings being increased from nine seven days this the most positive development the shipping front between south africa and its main trading partners europe for more than four years when the service last operated weekly said reuter 
acq	mathematical applications sets operations sale mathematical applications group inc said has signed letter intent sell all its operating business and will propose plan liquidation following the sale the company unsuccessful obtaining the approvals needed for the sale and liquidation said the company may required initiate reorganization proceedings under federal bankruptcy law facilitie the distribution its assets mathematical applications said tentatively agreed sell its direct marketing business pagex inc for dlrs plus amount equal the working capital the business closing well mln dlr note payable installments over six years mathematical applications said the business working capital estimated about dlrs pagex has been formed paul goldner the owner pagex systems inc which also engaged the direct marketing computer service business mathematical applications said the tentative agreement calls for pagex buy substantially all the assets and liabilities related the direct marketing business and continue use the mathematical applications name said the sale also subject renegotiation real estate lease and approval definitive agreement the company board stock holders and debenture holders the company said has obtained waivers from holders its six mln dlrs principal amount debentures due march defer interest payments aggregating dlrs through march the company said will seek waivers defer these interest payments and those due march for enough time enable the company accomplish the proposed sale its operations mathematical applications said talking debenture holders its landlord lessor equipment the marketing operation and holders other liabilities not being assumed pagex arrange distribution assets after the proposed sale adding that these assets will significantly less than its liabilities the company said has obtained waivers from holders its six mln dlrs principal amount debentures due march defer interest payments aggregating dlrs through march the company said will seek waivers defer these payments and those due march for enough time accomplish the proposed sale its operations mathematical applications said talking debenture holders its landlord lessor equipment the marketing operation and holders liabilities pages not assuming arrange distribution assets after the proposed sale adding these assets will significantly less than its liabilities part the distribution assets the company said expects shareholders receive amount based the bid price the company stock which was march five reuter 
acq	financial corp fin unit completes purchase financial corp america american savings and loan association said completed the previously announced purchase retail savings branches from great western financial corp gwf great western savings american savings said the purchases boost its deposits about mln dlrs but not affect its asset base reuter 
acq	johnson products jpc sells two subsidiaries johnson products inc said completed the sale debbie school beauty culture inc and the assets ultra precise beauty boutique inc management said the sale price dlrs consisted dlrs cash secured promissory note for dlrs and the forgiveness debt dlrs owed johnson products debbie school reuter 
acq	usair seeks two billion loan for takeovers usair group inc said seeking two billion dlrs bank debt complete its takeover piedmont aviation inc pie and its pending acquisition group inc pacific southwest airlines filing with the securities and exchange commission that details its proposed dlr share cash tender offer for piedmont usair said manufacturers hanover trust mhc indicates its willingness march letter provide mln dlrs the financing manufacturers hanover would also act agent for bank group raise the rest the financing usair said usair said manufacturers hanover affiliate currently agent for its mln dlrs revelving credit facility which would replaced the proposed two billion dlr financing usair put its total cost completing the tender offer billion dlrs its pacific southwest takeover which has received federal approval and due come for shareholder approval later this month for dlrs share mln dlrs total usair said has already bought mln piedmont common shares pct the total outstanding from norfolk southern corp nsc for mln dlrs the tender offer which being made through usair subsidiary usag acquisition corp would not valid unless usair left with more than half piedmont total outstanding common stock after the april expiration while negotiations terms and interest rates its bank loans are not yet complete usair said expects them the form one billion dlr two year term loan and one billion dlr seven year revolving credit facility the company said expects repay the two year loan through equity preferred and debt offerings and possibly internal funds and the sale and leaseback aircraft reuter 
acq	jannock acquires pct intercon security jannock ltd said acquired pct interest intercon security ltd for five mln dlrs and intercon founders brian legge and richard grange will hold the remaining pct and will continue manage the company intercon security employing people provides full range security equipment and services jannock said reuter 
crude	canadian oil companies raise crude prices petro canada the state owned oil company said raised the contract price will pay for crude oil canadian cts barrel effective march six petro canada posted price for the benchmark light sweet grade edmonton swann hills api gravity now stands canadian dlrs bbl their light sour grade posted canadian dlrs bbl earlier today shell canada shc said raised its crude postings about canadian cts bbl bringing edmonton light sweet canadian dlrs bbl and the light sour crude canadian dlrs bbl imperial oil imo pct owned subsidiary exxon corp said that effective march five also raised its light sweet crude posting canadian dlrs bbl reuter 
acq	dart group said offers buy supermarkets general dlrs shr 
acq	bci holdings sell bottled water division bci holdings corp said its beatrice food corp retained shearson lehman brothers inc assist the sale its national bottled water business said products the subsidiary based monterey park calif are sold under the arrowhead brand name california and arizona the ozarka name texas and the great bear name northeastern states reuter 
grain	usda estimates ussr grain imports mln tonnes feb 
grain	usda estimates soviet grain crop mln tonnes feb year ago 
acq	dart darta makes offer for supermarkets sgl dart group corp said offered buy supermarkets general corp for dlrs per share cash earlier supermarkets general said unsolicited third party had made the offer analysts estimated the value about billion dlrs based mln shares outstanding kidder peabody and inc told dart that kidder affiliate will prepared advance mln dlrs subordinated basis 
acq	caesars world caw bid valued mln dlrs mts acquisition corp said will need about mln dlrs acquire the caesars world inc shares not owned its owner martin sosnoff the estimate came mts acquisition proxy statement caesars world shareholders describing its offer dlrs share for their stock which was announced this morning that announcement mts acquisition said its bank and investor bankers felt they could provide financing totaling mln dlrs for the offer sosnoff caesars world largest shareholders with the company shares that about pct the outstanding stock fully diluted basis the proxy said besides being the sole owner mts acquisition sosnoff owns pct atalanta sosnoff capital corp atl stock and chairman that investment management and brokerage firm reuter 
ship	seaman strike continues marines unload ships brazilian marines were today working the unloading ships the local port national strike seamen entered its day without signs agreement the halt the first national strike seamen years started february and union leaders said they would not return work unless they received pct pay rise shipowners have offered pct raise which the seamen rejected television reported that the port was operating full speed but that not true striking seaman told reuters the marines are doing their best but they don have the manpower nor the experience control the situation such quick period said port officials said the national halt had already caused losses estimated mln dlrs despite the presence marines there were reports incidents reuter 
crude	ecuador quake cut oil revenues mln dlrs people were feared dead and more than people left homeless thursday earthquake which will cost ecuador close mln dlrs lost petroleum revenues authorities said they estimated the cost repairing damaged oil pipeline mln dlrs the magnitude the damages caused the earthquake gigantic president leon febres cordero said after inspecting the damages napo the hardest hit jungle province miles from here the quake damaged oil pipeline forcing this opec nation suspend crude exports for four months president febres cordero said statement issued today the presidential press office the country would lose estimated mln dlrs crude exports until the pipeline was repaired the president said would cost mln dlrs repair the pipelline which carries oil from jungle oil fields over the andes balao pacific ocean port crude traditionally accounts for two thirds ecuador exports the quake triggered landslides swelling the aguarico river which burst banks carrying away homes and huts napo province health minister jorge brancho told reuters fear that people died napo though there way now knowing the exact figure because many people have disappeared said other estimates ranged high dead far corpses have been recovered bracho said information minister marco lara told reporters the number dead and injured not known because not know how many people lived the homes hit the landslides bracho said least were left homeless 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 business and society review business publication said investor group heads has offered buy harper and row publishers inc for dlrs share cash filing with the securities and exchange commission cross said proposed the takeover the board the new york publishing house today cross whose investor group includes his wife mary said they already hold harper and row common shares pct the total outstanding common stock they said they have spent mln dlrs their stake far cross said proposed letter harper and row that the company merged into company cross forming suggesting that the total cost completing the merger would mln dlrs cross said would use mln dlrs his own money for the deal and mln dlrs which would borrowed from the first national bank boston under revolving credit facility the bank has agreed provide 
crude	usx unit raises some crude postings marathon petroleum company subsidiary usx corp said raised the contract price pays for three grades crude oil effective march illinois sweet and indiana sweet are both being raised cts barrel dlrs bbl and the southern michigan grade being raised cts bbl also dlrs bbl the west texas intermediate grade was unchanged reuter 
earn	united brands inc qtr shr profit six cts loss cts 
earn	national fuel gas nfg sets split higher payout national fuel gas said its board has approved two for one stock split and will consider increased cash dividend its june meeting the company also said management will recommend the june board meeting increase cts per share the current annual dividend rate dlrs share raising dlrs per share dlrs share after the split national fuel gas said the split will paid holders record may spokeswoman said the distribution date for the split has not been determined the company said the split subject approval 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 upped its investment checkrobot inc the form mln dlrs convertible preferred stock raising its stake checkrobot pct from pct fully diluted basis reuter 
ship	union shippers agree cut port costs the new york shipping association and international longshoremen association said they agreed cut cargo assessments the port new york and new jersey more than pct some labor intensive cargos the charges cargo handled union workers will reduced dlrs ton from dlrs ton effective april one according the agreement between the union and shippers the assessments are used fund workers benefits what were doing lowering the price get more bulk cargo flowing through here spokesman for the new york shipping association said 
ship	csx csx unit sets improved shipping service csx corp sea land corp unit said will offer improved containership services between puerto rico and the east coast and gulf coast the united states beginning march the carrier said will provide shorter door 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 one dlr barrel wti dlrs 
acq	viacom via nat amusements seek fast merger the chiefs viacom international inc and national amusements inc said they met and agreed work together complete the previously announced merger the two companies expeditiously possible spokeswoman for viacom declined say the executives had set timetable for closing the deal viacom last week agreed acquired national amusements for combination cash and stock with estimated value dlrs share total about billion dlrs 
earn	general cinema corp qtr oper shr cts cts 
interest	bank board says mortgage rates down february the federal home loan bank board said interest rates both fixed rate and adjustable rate home mortgage loans were down substantially early february the bank board said the average effective commitment rate for fixed mortgages with maturity least years for new home purchases dropped pct early february basis point decline from early january the commitment rate adjustable rate mortgages declined basis points the same period bringing the average rate pct the bank board said the average effective interest rate all loans closed major lenders declined basis points from early january pct 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 pct the bank board said reuter 
acq	noranda spin off forest interests into separate company 
crude	api president sees options avert oil crisis american petroleum institute president charles dibona said options should rejected combat growing dependence foreign oil action should ruled out import fees quotas floor prices tax incentives other alternatives while national dialogue the issue continues dibona said paper institute conference new york today dibona said there unanimity within the industry how stimulate energy production but there consensus removing several government policies that hinder investments new prospects dibona said the windfall profit tax should abolished immediately and current proposals for increased environmental regulations acid rain and waste disposal should not adopted also suggested that the arctic national wildlife refuge alaska should opened for leasing oil companies dibona said this battle the industry cannot afford lose the nation continue benefit from alaskan oil dibona said since oil production has fallen while consumption rose and that has raised dependence imported oil particularly from opec dibona said reuter 
interest	sells bills pct stop pct pct stop pct 
acq	national distillers closes almaden sale national distillers and chemical corp said completed the sale almaden vineyards inc heublein inc for about mln dlrs heublein former subsidiary rjr nabisco inc rjr was recently acquired grand metropolitan plc almaden based san jose calif makes and sells table wines champagnes and brandies well some premium wines under the charles lefranc cellars label reuter 
acq	ceasars world says studying unsolicited dlr per shr offer martin sosnoff 
interest	bill auction rates average pct the treasury said its weekly auction three month bills produced average rate pct with pct rate six month bills these rates compared with averages pct for the three and pct for the six month bills sold last week the bond equivalent yield three month bills was pct accepted bids ranges from pct pct and pct the bids the high stopout rate were taken for six months the yield was pct and the bids ranges from pct pct with pct the bids accepted the treasury said received billion dlrs bids for the three month bills including billion dlrs non competitive bids from the public accepted billion dlrs bids including billion dlrs from the federal reserve and mln dlrs from foreign and international monetary authorities some billion dlrs bids for six month bills were received including mln dlrs 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 the average price for the six months bills was and prices ranged from the average yield the three month bills was the highest since pct feb the average yield the six month bills was the highest since pct 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 were the national interest mulroney told the house commons assets the huge oil company would examined before decision was made just other state run companies were studied before being sold under ottawa privatization program the government going examine assets this nature ascertain they continue play appropriate role public policy and will make determination have other cases mulroney told the daily question period asked opposition members clairify finance minister michael wilson statement friday that petro canada longer has any pubilic policy role mulroney said his government has long promised sell off companies that could better run the private sector outside the house energy minister marcel masse said petro canada would worth between three and four billion dlrs and because the size could difficult sell also said would prefer see canadians participating any privatization but would not give any details timing sale reuter 
acq	news corp nws completes purchase newspaper the news corp said the south china morning post ltd hong kong become wholly owned subsidiary march 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 reason for ending the talks which began january reuter 
earn	general cinema gcn poor season lowers net general cinema corp said lower attendence its theatres against last year record christmas season lowered its first fiscal quarter operating earnings nine pct mln dlrs while are not off good start fiscal would like business has picked the last few weeks chairman richard smith said said that the company expected net pricing higher and unit volume improve the remaining quarters the fiscal year the company added that operating earnings its theatre unit will higher fiscal the important summer season film releases perform well addition its other key business general cinema beverages expected achieve record operating results for the full year smith said the company superstar video business which rents video cassettes supermarkets continues operate expected loss the company added general cinema said the financing costs associated with its purchase mln carter hawley hale stores inc chh shares for mln dlrs and its mln sterling investment cadbury schweppes plc lowered first quarter net but said the loss was offset mln dlr gain the sale common shares sea land corp unit csx corp csx reuter 
acq	ceasars world caw studying sosnoff offer ceasars wold inc said its board studying the unsolicited and conditional tender offer for all its common shares dlrs per share from martin sosnoff company spokesman said the board expects make recommendation shortly but could not specify time period ceasars world chairman henry gluck statement urged shareholders not take any action with respect the offer prior the board recommendation sosnoff made the offer directly shareholders newspaper advertisement through company formed called mts acquisition corp expires april reuter 
earn	americus trust byu byp initial qtrly div americus trust for bristol myers shares announced initial dividend cts payable may for shareholders record april reuter 
acq	united security unse buy robert brown unit united security financial corp illinois said has signed letter intent buy robert brown and inc rcbi magic insurance group unit robert brown and would receive newly issued united security stock united security said anticipated that such stock would represent substantial majority the shares outstanding after the merger united security principal subsidiary united security life insurance illinois the magic group owns pilgrim life insurance america and middle atlantic life insurance reuter 
acq	warrington sells shoe divisions warrington inc said sold its shoe divisions montreal based taurus footwear inc for undisclosed terms the divisions manufacture and distribute greb hush puppies kodiak and santana brand shoes and had revenues about mln dlrs last year warrington said said the sale the shoe divisions and the previous sale its ski boot businesses will result unspecified net gain warrington said plans concentrate its canstar sports group inc skate and athletic footwear division the largest ice skate manufacturer and distributor the western world warrington said decided rationalize the balance its ski businesses which expected result divestment loss which could outweigh the net gains the sales its shoe and ski boot divisions taurus said the acquisition expected increase its annual sales about mln dlrs and make canada largest footwear manufacturer reuter 
crude	dupont unit raises crude oil prices conoco inc subsidiary dupont corp said was increasing its contract prices for crude oil between cts and one dlr barrel effective today conoco said the increase brings its price for the benchmark crude west texas intermediate dlrs barrel one dlr south louisiana sweet also one dlr now dlrs west texas sour was cts dlrs barrel conoco was the last company raise prices following series increases initiated last week sun sun which reversed the posted price cuts made the end february reuter 
grain	cbt discusses major changes for renovation chicago board trade cbt agricultural and financial futures markets could for period major upheaval later this year the exchange goes ahead with planned renovation cbt spokesman told reuters the exchange was looking number options identify the most cost effective and efficient way proceed including one which would involve moving the entire grains floor out the building and into the nearby midamerica commodity exchange one cbt chairman karsten mahlmann agenda items has been proceed with renovation the financial futures room the spokesman said another cbt official executive vice president george sladoje said the issue would discussed this friday special meeting the exchange floor number presentations have been made with regard renovating the financial futures room sladoje said looked five six different alternatives involving such things flip flopping the trading rooms added conceivable that under couple these plans might use the midamerica exchange temporarily for some cbt markets sladoje said move out one floor entirely then the construction period will about year said adding that the issue was likely membership vote first and then the drawing board for eight months year the cbt spokesman stressed that discussions were very preliminary this stage and nothing was likely begin until this summer the earliest order renovate the crowded financial futures pits exchange officials have discussed providing them temporary home next door the present grains dominated area this could involve moving cbt markets treasury bond futures treasury notes muni bonds and options bonds and notes through adjoining corridor while utilizing the midamerica floor for such cbt futures contracts 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 talk the grains floor will shift the midam and the financials will move the grains area said the cbt spokesman said another option being discussed was renovate the financial floor quadrants one quarter time the first step after deciding the most effective way proceed would get architectural and engineering drawings said added that was difficult present determine exact time frame for any possible moves this major undertaking and process that would spread out over next year said floor traders the midamerica commodity exchange which merged with the cbt about year ago said they were preparing vacate their floor the end this month space has recently been cleared for them the cbt 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 mini contracts grains livestock metals financials and foreign currencies well some options contracts rumor has that the cbt grains are coming over here because the bonds are too crowded one midam trader said another source the midam said this change could take place july august reuter 
acq	group seeks prime medical pmsi holder list group investment firms led far hills investor natalie koether said seeking information about the shareholders prime medical services inc over which has said seeking control filing with the securities and exchange commission the group which includes shamrock associates included march letter prime which asks for complete list all shareholders and their addresses the group said wants the information can contact shareholders issues including election opposition slate directors the board and other proxy contests the koether group letter gives the company five days respond its request there response from prime medical the group said would consider the demand refused and would take other proper steps get the information the group said already holds prime medical shares pct the total said has taken legal action try force the company set annual meeting and require all directors stand for election previous sec filing the group has said has decided try seek control prime medical through tender offer exchange offer proxy contest other ways reuter 
acq	grand metropolitan plc unit sell business grand metropolitan plc said its grandmet usa inc unit decided sell its physical fitness and exercise equipment business the company said morgan stanely and inc advising the sale the business reuter 
acq	chrysler amc buyout valued billion chrysler corp proposed acquisition american motors corp valued about billion dlrs including the cost acquisition and the mln dlrs american motor debt that chrysler will assume analysts said they said chrysler cost acquisition was valued mln dlrs paid cash notes and chrysler shares the analysts told reuters that new york briefing chrysler treasurer fred zuckerman outlined his company agreement with renault assume amc debt well mln dlrs unfunded pension liabilities though the latter not included valuing the transaction analysts were generally positive chrysler proposed purchase its much smaller rival but said they expected the transaction would carry with short term dilution chrysler earnings chrysler financial source speaking anonymously told reuters that the proposed purchase price was smaller than would have been had deal been struck last year because the impact the new tax law removes chrysler ability assume amc large reserve tax loss carryforwards accumulated from its losses since there were very serious discussions last fall but didn pull off the source said reference the assassination november former renault chairman georges besse too bad because the tax benefits fell the floor and renault could have gotten much better price done before the end last year addition amc debt and its pension liabilities the source said chrysler would also assume any liability from lawsuits over the safety jeeps which called overhang the company analysts quoted chrysler officials having told them that the deal includes payment renault mln dlrs principal the form year note eight pct interest mln dlrs cash for renault equity amc finance subsidiary mln dlrs cash for transaction fees connection with the acquisition and mln dlrs worth chrysler stock paid amc shareholders the big number the mln dlrs debt assumption analyst jack kirnan kidder peabody and told reuters moody investors service inc said may downgrade billion dlrs chrysler corp and unit debt due the deal but the chrysler source said that assuming amc liabilities his company will refinance lower rate any amc debt that being carried non market rates said there were difficulties negotiating with the previous renault management the acquisition because they were committed the group business plan which amc was integral part the new management didn have that problem amc wasn their baby said reuter 
acq	washington nat wnt buys united presidential washington national corp washington national insurance said bought the remaining pct united presidential corp upco outstanding shares dlrs share cash the acquisition the shares part plan exchange approved united presidential shareholders special meeting march the purchase the remaining united presidential stake follows washington national buying pct united presidential dlrs share tender offer which terminated december reuter 
acq	conagra cag completes merger with trident conagra inc said completed the merger its sea alaska products unit and trident seafoods corp conagra said the new company which holds pct stake will called trident seafoods corp charles bundrant president trident before the merger was named president the new company conagra said conagra said also completed the previously announced acquisition bristol monarch corp and that trident completed the purchase the remaining pct stake san juan seafoods inc reuter 
earn	atco ltd sees gain from sale atco ltd said its atco development unit agreed sell the canadian utilities center edmonton alberta and the canadian western center calgary the sales together with the previously announced sale atco australian operations will gross mln dlrs and result after tax gain mln dlrs which will reflected atco fiscal year results its fiscal year ends march the company said addition the sales will produce mln dlrs cash after debt reduction mln dlrs atco said reuter 
acq	lindner tells sec has had talks with taft seeking control company 
acq	bancroft bcv files suit against zico bancroft convertible fund inc said filed lawsuit federal court newark seeking block hostile dlr share takeover offer zico investment holdings inc bancroft said the suit also names michael javett principal officer zico and first fidelity bancorp ffb first fidelity bank unit the depositary for zico offer bancroft said the suit also names georgeson and inc zico information agent and luthie intercontinentale inc panamanian corporation bancroft said its complaint alleges that zico tender offer materials include false and misleading information and that the offer violates the investment company act the company said its stockholders approved proposals that will insure that remains independent reuter 
acq	lindner says discussed control taft tfb financier carl lindner who holds pct stake taft broadcasting told the securities and exchange commission has discussed with the company the possibility seeking control lindner the cincinnati ohio investor who controls american financial corp said his talks with some taft managers and directors have been aimed achieving increased ownership position the company lindner said his increase ownership would made either making offer acquire control taft taking part group acquire the company lindner who holds his taft stake through american financial and its subsidiaries said also considering buying more taft stock the open market private deals did not say whether the talks with taft officials led any agreements understandings but lindner said intends review his investment taft and may involved further talks take other steps regarding the future control and direction taft lindner investor group recently raised its taft stake shares pct from shares pct after buying shares for total mln dlrs although recently received clearance from the federal trade commission raise his stake the company pct lindner previous sec filings has always stressed that his interest taft was for investment only and not was not seeking control the company investor group headed members the wealthy bass family fort worth texas also holds about pct taft common stock reuter 
acq	investors set deadline for japan fund jpn investor group that includes boone pickens iii said set deadline est march for its offer acquire japan fund inc the group which also includes sterling grace capital management inc and anglo american security fund said was willing deposit escrow japan fund shares worth about two mln dlrs insure its ability obtain financing japan fund approves its offer the group said japan fund has not responded its offer worth about mln dlrs current market prices reuter 
acq	investor firms have pct symbion symb group affiliated firms led warburg pincus capital new york venture capital and investment partnership said has acquired shares symbion inc pct the total outstanding filing with the securities and exchange commission the warburg pincus group said bought the stake for investment purposes although the group said considering buying more shares symbion said has plans seek control the company reuter 
acq	offshore investor has pct hauserman hasr kindness bahamas based firm owned investor and bahamas resident john templeton said has acquired shares hausereman inc pct the total outstanding common stock filing with the securities and exchange commission templeton said bought the shares for investment purposes only and has intention seeking control the company reuter 
acq	investment firms stake mcgill mftg mgll group affiliated investment firms led bermuda based fidelity international ltd and boston based fmr corp told the securities and exchange commission raised its stake mcgill manufacturing inc the group said raised its stake shares pct the total outstanding common stock after buying mcgill common shares between jan and march prices ranging from dlrs share reuter 
earn	cts cts increases loss cts corp said increased its loss from continuing operations mln dlrs from the previously announced mln dlrs loss the figure was increased include expenses involved with its settlement dispute with dynamics corp america dya the settlement involved takeover bid for cts dynamics corp which had offered buy the shares cts that did not already own cts made profit mln dlrs from continuing operations cts said charged additional mln dlrs special expenses its operations result the dynamics corp settlement the additional expenses include the obligation reimburse dynamics corp subject approval cts shareholders total mln dlrs for dynamics corp expenses and other costs relating cts reuter 
acq	investment firm raises certron crtn stake louart corp los angeles investment firm said raised its stake certron corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission louart said bought certron shares between sept and march total dlrs share said its dealings certron were for investment only but said might increase its stake said has plans seek control the company reuter 
acq	hogan systems hogn acquisition hogan systems inc said acquired systems inc durango colo for mln dlrs hogan said systems provides integrated applications software and processing services about community banks systems has revenues mln dlrs year hogan said reuter 
crude	pickens sees continued slump working rigs boone pickens the texas oilman and financier said believes the heady days the oil service industry had the early when over oil rigs were once reported operating will not return his lifetime pickens told reuters expects the rig count drop below before recovering added that oil prices will eventually rise dlrs then dlrs after currently some oil rigs are operating the down sharply after oil prices slipped from dlrs late around dlrs prices are now around dlrs the highest number working rigs was december the rigs won back work until the price oil gets above dlrs said adding that while expects see dlr barrel oil does not expect see rigs operating his lifetime pickens pickens who currently touring the country promoting his autobiography boone said does not believe the should impose oil import fee order 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 the stability exchange rates miyazawa told press conference the agreement reached last month paris six major industrial nations cooperate bringing about currency stability has prevented speculative concerns from being active money centres the decision paris being understood the market said the yen dollar exchange rate has been moving narrow range since finance ministers britain canada france japan the and west germany reached the accord reuter 
money-fx	australian reserve bank buying intervention the reserve bank said local time was offering buy short dated government securities the short term money market the bank action followed its purchase short dated government stock and six day repurchase agreements earlier the session money market traders said the move was aimed easing cash market interest rates which had risen demand for funds meet paye tax and treasury note settlement commitments reuter 
ship	search for british ferry toxic cargo continues the search continued for cargo poisonous chemical substances loaded the herald free enterprise ferry which capsized zeebrugge harbour friday total drums various toxic materials which were loaded trucks the ship hold have been recovered but belgian authorities warned was essential recover further containers cyanide based solution net has been thrown over the gaping loading doors the front the ship prevent any more drums floating out salvage workers have moved cranes into place alongside the wreck the ton roll roll off ferry which now lies partly submerged sandbank outside the harbour the ferry owner european ferries plc majority owned peninsular and oriental steam navigation plc porl the operation right the vessel began yesterday after divers abandoned their search for more bodies experts said could take months refloat the ship and free the bodies estimated trapped amid debris the problem that these waters you can normally expect one working day out four said daan kaakebeen dutch salvage experts smit tak international rotterdam estimated the job itself would require working days using reinforced cables salvage experts intend raise the ship and set down into trench dug alongside salvage work could pinpoint the exact cause the loss the ferry one three sister vessels plying cross channel routes from england continental europe suspicion present focused the ferry main vehicle loading doors set close water level london transport secretary john moore told parliament yesterday that the ship keeled over after water gushed through the bow doors said major government inquiry into the disaster will held all similar ferries sailing from britain will inspected and owners will asked fit lights give warning bow doors are not properly closed experts carrying out tank and computer tests determine how the accident occurred will focus attention the ship doors its ballast system and crew procedures added two other investigations into the disaster have also begun one belgian and one the ferry owners reuter 
trade	soviet economist sees few gains trade there little chance soviet exports the united states will rise but moscow current trade reforms should result more trade manufactured goods future soviet economist said sergey frolov chief economist amtorg trading corp agent for soviet trade organisations and industries told ussr business meeting the soviet union produces few items that western nations want but reforms including upgrading the quality goods and allowing joint ventures with foreign firms will encourage modest export gains future frolov said the soviet union exported mln dlrs worth goods the united states and imported billion dlrs worth gave trade forecast for but said that even all obstacles were removed total trade between the two countries would remain between two and three billion dlrs year the post detente embargoes have taught the ussr limit its trading with the said reuter 
money-fx	china allows nationwide foreign exchange saving people throughout china can now open foreign exchange accounts the bank china the official shenzhen economic zone daily said previously only residents guangdong and fujian provinces could this the paper also said the minimum for opening fixed deposit account had been cut yuan equivalent from yuan the minimum for current account yuan equivalent the paper said depositors could now withdraw all part their account subject branch reserves instead only fixed amount previously the paper said deposits may now opened french francs well the already available dollar hong kong dollar sterling yen and marks bank china branches hainan island also accept deposits singapore dollars and those wenzhou zhejiang province accept deposits dutch guilders the paper said gave further details reuter 
trade	economic spotlight japan pushes its chipmakers japanese microchip makers are being strong armed into compliance with japan pact semiconductors halting predatory pricing and opening japan market foreign chips industry analysts said but doubts remain over whether the ministry international trade and industry miti which pressuring the firms can successfully battle market forces and whether the industry geared take advantage any breathing space they said threats scrap the agreement signed last september have pushed miti try harder get recalcitrant japanese chipmakers abide the pact the analysts said miti has been moving hot and heavy throughout the industry get things done said bache securities japan associate vice president peter wolffe last month miti told chipmakers cut production for the january march period pct help dry inexpensive chips that have escaped from japan grey markets not subject the pact price controls the ministry also asked electronics firms provide distributors with certificates designating them authorised exporters effort close loopholes through which grey marketeers sneak chips out japan market analysts said trade negotiators here last week said the pact was jeopardy because continued dumping non american markets and little sign increased foreign sales japan but major japanese firms appear have agreed the production cuts several analysts said last week nec corp said would cut production line with miti request nec has been the most aggressive resisting miti demands said david keller analyst james capel and once nec cuts production means they all have still pressures remain keep production high japanese firms need high output cut unit prices for sales that the commerce department assigns them under the pact the best way lower cost produce more said salomon brothers asia ltd analyst carole ryavec preparations for possible upturn demand could also spur higher production next quarter merrill lynch analyst matt aizawa said grey marketeers may also able outfox any new restrictions some industry officials said like tax avoidance schemes said steve donovan head mmi japan soon you close one route another opens miti pressure has annoyed some makers who had earlier shrugged off miti guidance getting like communism said one but analysts said output cuts could help making easier increase prices planned april and forcing firms stop extending market share selling loss they going have start running their businesses like businesses bache wolffe said miti has also been conducting highly public campaign urging chip users buy foreign made chips but industry officials said response has been mixed best there has been some change but not across the board said one spokesman the companies have varying degree urgency the ultimate impact all these efforts miti the troubled industry remains doubt analysts added pressure cut production kilobit dram dynamic random access memory chips could merely speed the transition one megabit chips where japan now leads analysts said whether firms are able stage comeback memory chips interested doing also remains unclear they said analysts are watching with interest the fate new consortium which hopes challenge japan developing the most advanced technology for microchip manufacturing even the thorny area access much depends commitment well japanese openness some said the sia semiconductor industry association doesn even have office here source close the industry said you could question just how committed they are addition some industry analysts question the effectiveness bilateral agreement that leaves out third country chipmakers such those south korea south korea gaining market share said one analyst they the real winners from the agreement reuter 
interest	sumita says little room for bank japan further ease credit policy 
interest	sumita says little room for bank ease policy bank japan governor satoshi sumita said there little room left for the central bank further ease its credit policy interest rates levels are now approaching their lower limit the government should instead seek ways making the best use its fiscal policy told press conference his remarks were concerned with comprehensive economic stimulative package the government plans adopt the coming days the recent talks among the six major industrialised nations paris japan promised work out comprehensive economic package boost domestic demand which turn would help increase its imports and reduce its trade surplus sumita also said the economy will show gradual upturn the second half the year the yen remains stable said there caution the foreign exchange market against further rise the yen and mark and this explains the recent stability the currency markets conflicting economic indicators from the have also been dampening market activity added reuter 
crude	iranian oil minister uae talks iranian oil minister gholamreza aqazadeh the united arab emirates uae discuss oil prices and the general market situation iranian officials accompanying him said will meet uae president sheikh zaid bin sultan nahayan and oil minister mana said oteiba aqazadeh arrived last night after brief stopover riyadh where met saudi arabia oil minister hisham nazir the official saudi press agency quoted him saying his talks riyadh with nazir had been constructive and good aqazadeh said organisation petroleum exporting countries opec members were agreed holding production stable and reiterated the importance maintaining oil prices opec members agreed december limit production mln barrels per day for the first half this year and benchmark price dlrs barrel from february aqazadeh also visted opec members gabon algeria and libya the iranian news agency irna quoted him saying before leaving tripoli that opec should everything possible make oil prices permanently stable reuter 
crude	saudi arabia king fahd wants stable oil prices king fahd said today saudi arabia wants oil price stability and called non opec producers avoid harmful competition with the nation group his plea interview with reuters and the television news agency visnews came ahead state visit will make britain later this month king fahd was asked whether saudi arabia would prepared reduce its oil output below its opec quota mln barrels per day bpd defend the dlr benchmark price agreed opec last december the king replied saudi arabia doesn decide prices itself but certainly desires price stability non opec countries must help framework common interest that there type competition which could prove harmful everyone said asked saw the dlr per barrel benchmark first step towards higher world oil prices king fahd said was not for saudi arabia but for all opec countries determine such issues iran and algeria have already called for higher benchmark recent weeks the dlr level has come under pressure due partly quota violations some opec members king fahd said saudi arabia the world largest oil exporter was adhering decisions made opec december conference which set mln bpd output ceiling for the first half major non opec producer britain has far resisted the group pleas curb its north sea oil output the king also urged the world community help the palestinians return their homeland and called for peaceful end the iran iraq war the year old war could not resolved the battlefield said reuter 
earn	hillsdown holdings plc hldn year shr div making adjusted for three for one capitalisation pre tax profit mln stg mln turnover billion billion tax mln mlnprofit attributable mln mln cost sales billion mln gross profit mln mln distribution costs mln mln adminstrative expenses mln mln other operating income mln nil interest payable mln mln minority interests mln mln extraordinary credit sale share and berisford plc mln nil operating profit includes poultry eggs and animal feed mln mln food processing and distribution mln mln furniture and timber distribution mln mln fresh meat and bacon mln mln reuter 
acq	kaufhof considering taking stake hapag lloyd west german retail group kaufhof kfhg considering taking stake shipping and transport group hapag lloyd hplg but has yet reach final decision spokesman said response queries press reports said kaufhof wanted stake pct hapag lloyd the kaufhof spokesman noted any decision purchasing shares the shipping group would have approved the supervisory board which due hold meeting tomorrow late last year the gevaert group belgium and west germany veba vebg said they had each acquired pct stake hapag lloyd from deutsche bank dbkg and dresdner bank drsd industry sources estimate deutsche and dresdner hapag lloyd majority shareholders held about pct hapag lloyd share capital before selling portions gevaert and veba the two banks have said they eventually wanted reduce their stake the shipping group pct each reuter 
money-fx	hungary devalue forint against western units hungary devalue the forint average eight pct against western currencies the official news agency mti said mti did not say when the devaluation would become effective but expected new rates announced later today hungary devalued the forint similar amount last september western bankers say the forint more realistically valued than currencies hungary comecon allies reuter 
earn	hillsdown says early results encouraging hillsdown holdings plc hldn said early results for were encouraging and the combination its investment and acquisition strategies enabled look forward confidently for excellent result for the year the company was commenting results which showed pre tax profit rising mln stg from mln previously turnover that lifted billion from billion the figures initially boosted the share price from last night but they then eased back gmt hillsdown said capital expenditure rose mln stg from mln and would continue this high level the placing mln shares last year raised mln stg and enabled shareholders funds more than double mln year end net borrowings were pct shareholder funds and the group had listed investments mln the company said had bought total companies during the year for total price some mln stg although these had made minor contribution profits the real benefits would come and beyond reuter 
earn	nippon oil sees sharply lower sales and profits nippon oil ltd npol predicted parent company net profit about nine billion yen the year ending march down pct from year earlier president yasuoki takeuchi told press conference current profit for the year was estimated billion yen down pct from year earlier said takeuchi said sales are expected fall pct billion yen for the fifth consecutive year year drop this year fall was due lower selling prices for end users which more than offset the yen appreciation the company will retain six yen dividend for reuter 
earn	bejam group plc bjam weeks january shr div pre tax profit mln mln tax mln mln turnover mln mln note company said was unlikely second half profits will show same rate increase first but had great confidence prospects for future growth reuter 
ship	work chittagong port halted strike cargo handling remains halted bangladesh chittagong port since nearly workers walked out monday following pay dispute the port workers association said today fourteen ships are stranded the port port officials said they would meet association leaders today try resolve the dispute reuter 
earn	creditanstalt bankverein cabv year cons banking net profit mln schillings mln cons banking balance sheet total year end billion schillings billion parent bank net profit mln mln parent bank balance sheet total billion billion parent bank dividend pct pct parent bank div payout mln schillings mln reuter 
earn	ultramar net loss mln stg mln profit 
acq	tesco associate buys pct hillards tesco plc tsco said that county ltd had yesterday bought its behalf mln shares around pct hillards plc for between and share tesco yesterday launched mln stg bid for the north england supermarket chain which hillards promptly rejected hillards shares were last quoted compared with last night close reuter 
earn	ultramar plc umar year shr loss earnings div making net loss mln stg mln profit operating profit before tax mln mln turnover billion billion cost sales billion billion gross profit mln mln distribution costs and administrative expenses mln mln share profits associates mln mln other operating income mln mln financing charges mln mln tax mln mln exceptional items mln debit mln debit net results discontinued operations mln debit mln debit loss ordinary activities before minority interest mln mln profit minority interest mln mln extraordinary debits mln nil reuter 
earn	gkn pretax profit mln stg mln 
money-fx	money market shortage forecast mln stg the bank england said forecast liquidity shortage around mln stg the market today among the main factors the bank said bills maturing official hands and the treasury bill take would drain mln stg from the system while below target bankers balances and rise 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 repay debt the belgian national bank bought foreign currencies against francs the open market the week ended march bank spokesman said line with central bank policy declined give any details the amount bought the foreign currency purchased was used the treasury repay foreign debt and did not affect the bank foreign exchange reserves they slipped mln francs billion mostly due sales dollars for special drawing rights the spokesman said reuter 
earn	gkn plc gknl year shr final div making pre tax profit mln stg mln net profit befire minorities mln mln sales billion stg billion extraordinary debit mln mln trading surplus after depreciation mln stg mln investment and interest income mln mln interest payable mln mln profits from related companies less losses mln mln tax mln mln profit attributable outside shareholders interests mln mln note extraordinary debit included charge for restructuring auto parts distribution france and loss mln stg sale steel stock business trading surplus comprised automotive components and products mln stg mln industrial services and supplies mln mln wholesale and industrial distribution mln mln steels and forgings four mln mln region britain contributed mln stg mln continental europe mln mln mln mln rest world seven mln four mln reuter 
earn	ultramar says fourth quarter showed improvements ultramar plc umar said that while its fourth quarter had improved from the operational point view several special charges adversely affected results overall the year had not been good one with upstream operations dramatically hit the fall crude oil prices and downstream operations also affected the first half large losses inventories but margins improved the second half and particular refining and marketing eastern canada showed good recovery the company was commenting results that showed net loss for the year mln stg after mln profit the fourth quarter charges included mln stg provision retroactive price agreement recently initialled pertamina and japanese buyers the company liquid natural gas and mln for the early months its ownership gulf canada marketing assets ultramar said had also included the estimated cost further reorganisation programme which was partly offset withdrawal surplus funds from pension schemes and mln stg provision for the estimated cost selling its flag shipping operation the immediate outlook for crude oil prices was uncertain although was unlikely there would any sizeable increase the near term however ultramar said was optimistic prices would strengthen over the longer term its substantial reserves crude oil and natural gas put good position benefit from any price recovery the meantime ultramar objectives were improve profitability selling restructuring weak operations while strengthening core businesses and developing sound operational and financial base proven probable and possible reserves end totalled about mln barrels net oil equivalent basis ultramar shares firmed the announcement from last night close reuter 
acq	queensland press board recommends murdoch offer the queensland press ltd qpl board said unanimously recommended the one billion dlr takeover bid cruden investments pty ltd family company news corp ltd ncpa chief executive rupert murdoch the dlrs share cash only offer nearly double the market price before news announced its now completed bid for the herald and weekly times ltd hwta early december and other offer likely said statement independent adviser wardley australia ltd had also concluded the offer was fair and reasonable added qpl already owned pct hwt reuter 
interest	belgium cuts discount rate pct from official 
earn	preussag says payment dividend not certain spokesman for preussag prsg said was not yet certain whether the company would pay dividend results was commenting preussag statement which said results were lower than preussag has frequently said its results came under further pressure following difficult year managing board chairman guenther sassmannshausen said december the board would prefer stick its policy not dipping into reserves pay dividends the spokesman noted the final dividend decision rests with the supervisory board the preussag statement said results fell compared with because declines earnings metals oil and shipping were not entirely compensated positive trends the group other divisions the spokesman said was not clear whether the domestic group would show net profit adding this would depend partly the level provisions preussag cut its dividend eight marks from nine marks results after parent company net profit dropped mln marks from mln the year before the preussag world group made net loss mln marks after net profit mln the year before domestic group net profit fell mln from mln the statement said its results were affected unsatisfactory selling prices for metals and oil well poor use capacity the supply ship sector the reduction natural gas prices the fourth quarter reflect earlier falls oil prices was additional factor behind the drop results preussag said rationalization measures already introduced would not begin take full effect until this year preussag domestic group turnover rose billion marks from billion helped the first time consolidation mln marks turnover from its majority owned oil and gas subsidiary deilmann domestic group turnover the fourth quarter alone was billion marks said without giving comparison figures preussag said its domestic crude oil production fell pct tonnes while foreign oil production rose tonnes from tonnes preussag said its amalgamated metal corporation plc amc subsidiary whose results are included the world group accounts made unspecified profit the fourth quarter last year amc large losses caused principally 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 exploration indonesia this year than last budgeting billion dlrs for calendar against spending billion dlrs the state oil company pertamina said actual spending last year fell short the budgeted figure billion dlrs oil companies slashed expenditure because the crash world oil prices jumardi jukardi head pertamina 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 state oil company pertamina and foreign oil contractors extension the standard year production sharing contract will concluded the end this month pertamina official said jumardi jukardi head pertamina foreign contractors coordinating board gave details about the outcome the talks but pertamina president abdul rachman ramly has said priority will given extending contracts for companies whose exploration and production contracts expire within the next seven years jukardi speaking indonesian reporters said the negotiations would determine whether the production sharing split favour pertamina would adhered altered some cases oil companies are asking for hardjoko seputro spokesman for the mines and energy ministry has said that president suharto has agreed principle extension the standard year production sharing contract reflect better current depressed conditions the international oil market reuter 
money-fx	german call money eases after liquidity injection call money eased pct from yesterday following net injection billion marks rate pct fresh funds from this week securities repurchase agreement dealers said but rates were expected rise toward the end the week major tax payment period banks behalf customers payments for the federal railways loan stock and repayments mark liabilities incurred foreign central banks with the bundesbank the framework the european monetary system ems are likely significantly burden the system banks built minimum reserves today ahead the expected outflow the bundesbank credited banks with gross billion marks but some billion left the system the same time earlier securities repurchase pact matured dealers estimated the ems related outflow high six billion marks the bundesbank declined comment but spokesman said yesterday although the funds now due may allowed roll over the possibility that other central banks may choose redeem them meant net infusion was needed dealers forecast tax payments and billion marks but much expected burden the system only next week banks minimum reserve holdings the bundesbank totalled billion marks monday averaging billion over the first nine days march dealers said although the figure was well above expected requirement around billion marks the expected outflow funds was large that banks might find difficult meet the requirement toward the end march securities repurchase agreement expiring next week but dealers said the bundesbank could offer fresh liquidity conditions significantly tighten the bundesbank wants keep rates around pct one dealer said reuter 
earn	btr plc btrx year shr div making pretax profit mln stg mln turnover billion billion tax mln mln operating profit mln mln operating profit includes other income mln mln financial costs mln mln minorities mln mln earnings mln mln extraordinary credit mln mln debit reuter 
money-fx	hungary devalue forint against western units hungary devalue the forint average eight pct against western currencies the official news agency mti said mti did not say when the devaluation would become effective but expected new rates announced later today hungary devalued the forint similar amount last september western bankers say the forint more realistically valued than currencies hungary comecon allies reuter 
interest	sumita says little room for bank ease policy bank japan governor satoshi sumita said there little room left for the central bank further ease its credit policy interest rates levels are now approaching their lower limit the government should instead seek ways making the best use its fiscal policy told press conference his remarks were concerned with comprehensive economic stimulative package the government plans adopt the coming days the recent talks among the six major industrialised nations paris japan promised work out comprehensive economic package boost domestic demand which turn would help increase its imports and reduce its trade surplus sumita also said the economy will show gradual upturn the second half the year the yen remains stable said there caution the foreign exchange market against further rise the yen and mark and this explains the recent stability the currency markets conflicting economic indicators from the have also been dampening market activity added reuter 
money-fx	bank england does not intervene money market the bank england said did not operate the money market during the morning initially the bank forecast liqudity shortage some mln stg for the market today overnight interbank sterling traded the pct level for most the morning while period rates have eased the strength sterling dealers said gmt sterling trade weighted index was reuter 
interest	urges banks weigh philippine debt plan the urging reluctant commercial banks seriously consider accepting novel philippine proposal for paying its interest bill and believes the innovation fully consistent with its third world debt strategy reagan administration official said the official comments also suggest that debtors pleas for interest rate concessions should treated much more seriously the commercial banks cases where developing nations are carrying out genuine economic reforms addition signaled that the banks might want reconsider the idea megabank where third world debt would pooled and suggested the administration would support such plan even though was not formally proposing the same time however the official expressed reservations that such scheme would ever get off the ground the philippine proposal together with argentine suggestions that exit bonds issued end the troublesome role small banks the debt strategy would help underpin the flagging role private banks within the plan the official said interview with reuters all these things would fit within the definition our initiative have asked and think any novel and unique approach such those should considered said the official who asked not named october washington outlined debt crisis strategy under which commercial banks and multilateral institutions such the world bank and the international monetary fund imf were urged step lending major debtors nations return america called the debtor countries enact economic reforms promoting inflation free economic growth the multilaterals have been performing well the debtors have been performing well said the official but admitted that the largest third world debtor brazil was clearly exception the official who played key role developing the debt strategy and administration economic policymaker also said these new ideas would help commercial banks improve their role resolving the third world debt crisis called the very beginning for the bank syndications find procedures processes whereby they could operate more effectively the official said among those ideas the official said were suggestions that commercial banks create megabank which could swap third world debt paper for called exit bonds for banks like regional american european institutions such bonds theory would rid these banks the need lend money their former debtors every time new money package was assembled and has been suggested argentina its current negotiations for new loan billion dlrs emphasised that the megabank was not administration plan but something some people have suggested other officials said japanese commercial banks are examining the creation consortium bank 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 plan would work the united states the banks thought that that was suitable way fine don think they ever will pointed out that banks would swap their third world loans for capital the megabank and might then reluctant provide new money debtors through the new institution meanwhile the official praised the philippine plan under which would make interest payments its debt cash more than pct above libor the philippine proposal very interesting quite unique and don think something that should categorically rejected out hand the official said banks which found this level unacceptably low would offered alternative libor payments cash and margin above that one pct the form philippine investment notes these tradeable dollar denominated notes would have six year life and banks swapped them for cash before maturity the country would guarantee payment point over libor until now bankers have criticised these spreads far too low the talks now their second week are aimed stretching out repayments billion dlrs debt and granting easier terms billion already rescheduled debt the country which has enjoyed strong political support washington since corazon aquino came power early last year owes overall billion dlrs debt but the official denied the plan amounts interest rate capitalisation development until now unacceptable the banks more interest rate capitalisation than you have write down the spread over libor from what existed before the official said comments suggesting some ought granted the rate concessions they seek some people argue that cutting the spread debt forgiveness what really narrowing the spread new money added said the debt strategy sufficiently broad initiative include plans like the philippines reuter 
earn	new world pictures have gain from sale five pct taft broadcasting 
interest	jamaica agrees draft bank debt rescheduling jamaica agreed principle with its bank advisory committee rescheduling mln dlrs foreign commercial bank debt falling due between and the jamaican information service said repayments the debt will stretched out over years with years grace percentage points over the london interbank offered rate libor the margin previously restructured debt also will cut point from the package should save jamaica about mln dlrs year prime minister edward seaga who led the jamaican delegation called the terms very favourable his country the agreement principle with the bank advisory committee led the bank nova scotia bno comes five days after jamaica successfully concluded mln dlr rescheduling accord with the paris club creditor nations that pact turn followed the international monetary fund imf approval march mln special drawing rights standby arrangement and mln sdr drawing under the compensatory financing facility jamaica foreign debt billion dlrs only pct owed commercial banks and seaga yesterday reaffirmed the government policy not seeking new bank loans reuter 
interest	brazil gros meet banks trade line issue brazil central bank governor francisco gros will meet senior commercial bankers here today new attempt defuse the anger generated the country unilateral suspension interest payments billion dlrs foreign commercial bank debt bankers said gros will meet representatives citibank the head brazil bank advisory committee and heads morgan guaranty trust and lloyds bank plc high the agenda will banks complaints about brazil accompanying freeze some billion dlrs short term trade and interbank lines the bankers said brazil several hundred creditor banks worldwide agreed last march extend the credit lines until march part billion dlr financing package bankers said the looming expiry this commitment coupled with brazil freeze raised spate technical and legal questions that the banks want discuss with gros they said they face problems because the freeze requirement that any payment due made brazilian bank under the trade facility must deposited instead with the central bank this means foreign bankers cannot easily switch their credit lines from one borrower another the requirement deposit with the central bank has also meant brazilian banks have been able negotiate lower interest rate spreads because foreign banks would rather accept reduced margin than see their money deposited with the central bank caused lot ill will with the banking community one banker said gros also expected brief the banks the results day tour europe and japan that and finance minister dilson funaro have just completed seek official support for brazil debt stance reuter 
earn	service resources corp src qtr net oper shr profit five cts loss dlrs oper net profit loss sales mln mln avg shrs year oper shr profit cts loss dlrs oper net profit loss sales mln mln note net excludes losses from discontinued operations dlrs dlrs quarter and dlrs mln dlrs year net excludes extraordinary loss dlrs quarter and gain dlrs year year net includes gain one mln dlrs from sale building and gain dlrs from termination pension plan reuter 
earn	telephone and data systems inc tds qtr net oper shr cts cts oper net revs mln mln avg shrs year oper shr cts cts oper net revs mln mln avg shrs note net excludes discontinued operations gain dlrs loss dlrs quarter and gain dlrs loss dlrs year net both periods includes charge dlrs from repal investment tax credits reuter 
acq	new world pictures nwp sells taft tfb stake new world pictures ltd said sold shares about five pct taft broadcasting common stock for gain mln dlrs the company said brief statement that acquired the stock late gave further details and company officials were not immediately available for comment friday taft vice chairman dudley taft and narragansett capital inc narr offered acquire taft for dlrs per share dudley taft and his family have owned pct the company investment group leds robert bass one the bass brothers fort worth texas has been reported owning about pct taft stock and american financial corp chairman carl lindner has been reported own about pct both bass and linder have acquired taft shares recent months reuter 
trade	soviet economist sees few gains trade there little chance soviet exports the united states will rise but moscow current trade reforms should result more trade manufactured goods future soviet economist said sergey frolov chief economist amtorg trading corp agent for soviet trade organisations and industries told ussr business meeting the soviet union produces few items that western nations want but reforms including upgrading the quality goods and allowing joint ventures with foreign firms will encourage modest export gains future frolov said the soviet union exported mln dlrs worth goods the united states and imported billion dlrs worth gave trade forecast for but said that even all obstacles were removed total trade between the two countries would remain between two and three billion dlrs year the post detente embargoes have taught the ussr limit its trading with the said reuter 
money-fx	swiss sight deposits fall billion francs sight deposits commercial banks the swiss national bank fell billion swiss francs the first days march billion the national bank said foreign exchange reserves rose billion francs billion sight deposits are major indicator money market liquidity switzerland the national bank said banks paid back billion francs central bank credit taken out the end february for the end month liquidity requirement this drain was offset part new currency swaps which had the effect increasing the national bank foreign exchange holdings bank notes circulation fell mln francs billion and other deposits call basically government funds rose billion billion reuter 
crude	ecuador crude oil exports stopped for five months ecuador needs mln dlrs repair the damage its oil export pipeline caused last week 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 the pacific ocean coast balao would repaired with the help texaco inc and mexican and argentine firm president leon febres cordero said two days ago that ecuador opec member would have suspend crude exports for four months due the quake oil traditionally accounts for two thirds ecuador total exports and much pct government revenues deputy energy minister fernando santos alvite said ecuador would have import six seven mln barrels crude oil meet its needs until the line was repaired the ecuadorean minister the presidency patricio quevedo told reporters that venezuela will lend ecuador five mln barrels crude which would repaid kind after day period added the caracas based andean development corp had granted loan mln dlrs towards repairing the pipeline which had been damaged the quake quito foreign minister rafael garcia velasco yesterday summoned ambassadors from about countries whom issued appeal for emergency aid for the country only three countries the colombia and venezuela had offered assistance reuter 
earn	southlife holding slhc qtr net oper shr seven cts cts oper net revs avg shrs year oper shr cts cts oper net revs mln mln avg shrs note net excludes realized gains investments dlrs dlrs quarter and dlrs dlrs year reuter 
crude	talking point oil services turnaround seen the oil services industry the verge recovery because rising crude prices oil industry analysts said the analysts who issued buy recommendations some stocks said the recovery oil services should begin the second half after drilling activity bottoms out the first half and continue into the next decade people however cannot afford wait for drilling start buying said sandi haber sweeney senior research analyst sanford bernstein and inc among the recommended buys are schlumberger ltd slb halliburton hal dresser industries baker international bko and mcdermott international inc mdr which may the target takeover harold simmons dallas based investor analysts said although major oil companies are increasing exploration and development overseas they expect the pickup oil services will begin the activity the depressed should move faster said vishnu sharp goldman sachs the number active oil drilling rigs the was last week compared with rigs one year ago huges tool figures show the average number working rigs the for projected versus according ike kerridge vice president stockholder relations hughes tool the first significant pickup drilling activity will occur the second half kerridge said overseas drilling activity expected follow similar pattern kerridge said halliburton the best value said jeffrey freedman vice president smith barney harris and upham inc adding the company controls the greatest amount liquidity common stock market value diversifed non oil field businesess and has the lowest multiple stock price operating cash flow including debt schlumberger freedman second favorite oil service stock schlumberger expected continue the dominant technical leader the industry freedman said schlumberger management shift asset restructuring including pending merger fairchild semiconductor and its considerable cash horde sets the stage for the company maximize its significant industry advantage and capitalize the project upturn exploration and development activity according report george gaspar first vice president robert baird and inc gaspar estimates earnings per share for schlumberger cts for and one dlrs compared with cts excluding fourth quarter special charge billion dlrs bernstein sandi sweeney recommending group oil service companies and said choosing among them difficult her favorite baker international which involved possible merger with hughes tool dresser industries will also benefit from the recovery but possibly not much other companies because not pure service company sweeney said dresser expected improve profitability owing cost reductions and streamlined operations including the sale and leaseback its headquarters said swarup reuter 
earn	creditanstalt sees higher dividend creditanstalt bankverein cabv likely raise its dividend from the payment pct 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 share capital had risen billion schillings the end from billion year earlier schmidt chiari made the forecast news conference when the bank announced consolidated banking group net profit mln schillings for against mln schmidt chiari did not elaborate his dividend forecast the banking group consolidated balance sheet total rose billion schillings year end from billion general director hannes androsch said higher investment would lead continuing growth profits future last year better profits had resulted from improvements services provided the bank and also profits schilling lending schilling lending had grown last year and interest rate margins had also improved but remained unsatisfactory when compared with those other countries said increased provisions for possible bad debts home and abroad particularly latin america had lowered profits androsch said but declined give exact figure schmidt chiari said that foreign lending business had fallen significantly due exchange rate fluctuations removing some billion schillings from the balance sheet total attempt generate more foreign business representative offices would opened this year tokyo hong kong moscow and prague androsch welcomed government plans abolish legal controls foreigners buying voting shares and drawing dividends preference shares state controlled creditanstalt rose eight schillings the vienna bourse today brokers said improved results had been widely expected investors androsch said industrial holdings had performed better than previous years giving return investment pct compared with pct creditanstalt austria largest bank holds majority interests medium sized and large austrian companies but forecast its biggest industrial subsidiary steyr daimler puch sdpv would return result similar the expected operating loss mln schillings reuter 
acq	cpc cpc sell unit port hipt cpc international inc said has agreed principle sell its peterson puritain inc subsidiary port industries inc cpc said the sale not expected have significant impact its earnings and subject approval boards both companies terms were not disclosed peterson purittan contract packager personal care and household products reuter 
earn	pulitzer publishing pltzc qtr net shr cts cts net revs mln mln avg shrs mln year shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln note interest expense dlrs dlrs quarter and dlrs dlrs year year net reflects undisclosed amount expenses for defense takeover effort reuter 
acq	hughes tool says approves revised terms for merger with baker international 
crude	opec reaffirms commitment fixed prices ceiling opec has reaffirmed its commitment fixed crude oil prices around dlrs barrel and overall output ceiling mln barrels per day bpd defend prices its president rilwanu lukman said told news conference here after due consultation with colleagues opec hereby wish emphasize that nigeria and all member countries opec remain determined uphold the december agreement adhering strictly their various quotas and official selling prices lukman added extraordinary opec conference was planned are position confirm that despite misleading news foreign media the contrary opec member countries whole produced below their agreed quota the month february lukman who nigerian oil minister said lukman put the overall opec output shortfall february bpd and said this was result their firm determination defend official selling prices dlrs agreed upon last december geneva the december agreement set overall output ceiling for opec mln bpd for first half and restored fixed prices from february around reference point dlrs oil prices rallied immediately after the geneva accord but fell again last month reports that opec was producing more than the agreed level the idea was suggest that opec agreement would not hold and this caused some customers hold back purchases opec oil and resort destocking meet their needs lukman said said the bpd shortfall last february was based the verified figure for out opec members adding that nigeria alone had shortfall production bpd iraq disassociated itself from the december agreement while the production figures ecuador and the united arab emirates needed verified lukman said that the price have pay make the agreement succeed are ready opec not changing its price level dlrs the group president said said the opec price differentials committee meeting formerly postponed april had been put off indefinitely furthermore extraordinary meeting the conference the moment contemplated since most agreements reached december are being adhered said asked the committee did not need meet soon narrow the gaps the prices the various opec crudes fixed relation the dlr benchmark lukman replied consider the defence our prices much more crucial than differentials lukman said opec was aware that consumers had heavily drawn stocks both crude oil and refined products levels well below this time last year and soon they would return the market search crude don see that there going any difficulty maintaining the dlr price throughout the rest the year lukman said the opec president praised non opec oil producers which said had contributed the group efforts stabilise prices but criticised britain for maintaining its long held view not anything help the market are quite confident however that the long term with two thirds the world reserves opec hands the future ours will use that advantage responsibly said lukman described the disruption ecuador output following earthquake tragic but refused say the south american country would allowed higher output quota when recovered from the disaster reuter 
ship	dutch port union meet parliamentarians today dutch port and transport union fnv presenting its case against planned redundancies rotterdam general cargo sector parliament standing committee social affairs today union spokesman said with the strong workforce strike the union will tell the committee the government has duty 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 them planned for this year court amsterdam tomorrow added reuter 
acq	qintex again extends princeville pvdc offer qintex america ltd said again extending its offer dlrs share for mln princeville development corp shares until today from yesterday midnight yesterday princeville shares had been tendered from shares hours earlier qintex said extending the offer allow princeville comply with federal law restricting the ownership airlines non citizens and finalize the terms and conditions the letter credit 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 two for one stock split payable holders record the close business march said shareholders the annual meeting approved doubling authorized common shares mln from mln and limitation directors liability reuter 
earn	heart federal hfed sets two for one split heart federal savings and loan association said its board declared two for one stock split payable april holders record april the company said the split subject shareholder approval the april annual meeting increase authorized common shares mln from five mln reuter 
earn	novo industri nvo year pre tax income mln danish crowns mln sales billion crowns billion income after tax mln crowns mln earnings per crown share crowns dividend pct unchanged reuter 
earn	overmyer corp omco regular dividend qtly div cts cts prior qtr payable march record march reuter 
earn	uniforce temporary personnel inc unfr qtr shr cts cts net sales mln mln avg shrs year shr cts cts net sales mln mln avg shrs note share data adjusted reflect three for two stock split effective june reuter 
money-fx	money market given mln stg assistance the bank england said gave the money market assistance worth mln stg this afternoon buying bank bills the rates established monday the bank bought mln stg band one bills pct and mln stg band two paper pct this the first time that has intervened today the bank has revised its estimate the liquidity shortage the market down mln stg from mln initially reuter 
earn	pic save corp picn qtr net shr cts cts net mln mln sales mln mln year shr dlrs dlrs net mln mln sales mln mln note share adjusted for three for two split june reuter 
acq	goodyear tire receive mln dlrs for goodyear aerospace from loral corp 
acq	hughes tool board approves merger hughes tool said its board voted special meeting last night approve new agreement with regulators that would allow the company complete its proposed merger with baker international corp bko the agreement approved the department justice yesterday will give the merged company baker hughes six months instead three sell certain assets the pact also allows three month extension warranted and limits the obligation the new company give financial support the businesses divested pending their sale the company said its board recommended that shareholders approve the merger the oilfield service companies previously adjourned meeting hughes tool stockholders will resumed this afternoon said hughes will work with baker and the justice department towards negotiating the final form the consent decree and filing soon possible the company said statement closing the merger would occur immediately after the filing said the assets sold under the consent decree consist baker domestic oilfield drilling bit business and its domestic submersible electric pump business baker has agreement sell the pump business trico industries inc tro the financial terms the merger are unchanged hughes spokesman said under those terms each baker common share and hughes common share would converted into one share and share respectively baker hughes inc which would formed new holding company reuter 
acq	hanson trust plc unit sell kaiser cement terminal and plant for mln dlrs 
crude	triton energy oil affiliate canadian find triton energy corp said its pct owned canadian worldwide energy ltd affiliate lasmo tableland well saskatchewan flowed barrels degree gravity oil through inch choke from depths feet and barrels oil per day through inch choke from depths feet triton said because the well status deep exploratory well production qualifies for five year royalty holiday under the saskatchewan drilling incentive products said the well initial production expected restricted allowable level about barrels day although capable sustaining much higher rates the company said london and scottish marine oil plc owns pct interest the well and its spacing unit canadian worldwide pct saskatchewan oil and gas corp pct interprovincial pipeline ltd home oil ltd pct and scurry rainbow oil ltd srb pct triton said royal dutch shell group shell canada ltd shc affiliate retains convertible overriding interest the well reuter 
crude	ecuador deputy minister seeks oil aid venezuela ecuador deputy energy minister fernando santos alvite arrived here last night for talks further venezuelan assistance his country oil industry following last week earthquake officials said ecuador was obliged suspend crude oil exports for expected five months result damage miles pipeline linking its jungle oil fields with the pacific port balao oil normally accounts for pct its exports fellow opec member venezuela has already agreed lend ecuador five mln barrels crude repaid kind after days help meet its domestic consumption needs the officials could neither confirm nor deny reports that venezuela will temporarily produce ecuador entire opec quota set barrels per day for first half all options are open this moment the context cooperation oil production venezuelan energy and mines ministry source said discussions are also under way arrive formula compensate ecuador for the loss oil export revenue while the pipeline repaired officials said santos alvite last night met venezuelan energy and mines minister arturo hernandez grisanti and will today hold talks technical level officials said industry sources said that among the options are for venezuela produce ecuador entire quota for venezuela and non opec mexico share and for the latter supply ecuador far eastern clients but the ministry source said that decision has yet been reached the matter and that announcement would made due course santos alvite said earlier quito that ecuador would have import six seven mln barrels crude oil meet its needs until the line was repaired ecuador energy and mines minister javier espinosa teran said last night his country needs mln dlrs repair the damage the export pipeline caused the earthquake reuter 
acq	goodyear receive mln dlrs for unit goodyear tire and rubber said will receive about mln dlrs cash from loral corp lor for the business goodyear aerospace corp goodyear said the previously announced acquisition loral expected completed march when loral announced the transaction january the company said was paying mln dlrs for goodyear aerospace goodyear said the price will receive after adjustments for such items pension and benefits provision allocation liabilities and asset valuations last year goodyear aerospace had revenues mln dlrs reuter 
earn	veba raab karcher raises operating profit raab karcher trading subsidiary veba vebg said increased operating profit despite sharp decline turnover and added there were good chances this profit level could held operating profit rose just under mln marks from around mln however the group third party sales fell sharply billion marks from billion the year before largely due lower prices for energy products particularly oil and coal managing board chairman klaus giesel told news conference reuter 
earn	hovnanian enterprises hov splits stock hovnanian enterprises inc said its board directors has declared two for one split its outstanding common stock the company said shareholders will receive one additional share for each share held the close business march and additional shares will distributed april reuter 
acq	british aerospace raises system designers stake british aerospace plc bael said has increased its stake systems designers plc pct mln ordinary shares following the purchase mln ordinary shares the british aerospace pension fund holds mln ordinary shares systems representing stake pct spokesman for british aerospace said has present future intention making full bid for systems designers system designers shares were nine pence higher prior the share stake announcement and have showed little movement since reuter 
earn	esselte business systems inc esb ups payout qtly div cts cts prior pay march record march reuter 
earn	katy industries inc qtr net oper shr profit cts loss cts oper net profit loss sales mln mln year oper shr profit cts loss cts oper net profit loss sales mln mln note earnings exclude losses from discontinued consolidated operations dlrs eight cts share dlrs cts share the quarter and dlrs dlrs share dlrs dlrs share for the year earnings exclude loss the sale discontinued consolidated operations dlrs three cts share the quarter and loss dlrs cts share gain dlrs cts share for the year note earnings exclude losses from discontinued unconsolidated operations dlrs cts share each period earnings exclude gain from termination defined benefit pension plan dlrs eight cts share the quarter and dlrs cts share for the year reuter 
earn	pmi fund inc sets monthly dividends pmi fund inc said its board declared monthly dividends 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 march and september last paid six cts february dividends declared today are payable april three may six june four july three and august six holders record march april may june and july reuter 
earn	merry round enterprises inc mgre qtr jan end shr cts cts net sales mln mln year shr dlrs dlrs net sales mln mln reuter 
earn	tenera tlpzv sets initial quarterly tenera said will make initial quarterly distribution cts per unit april holders record march the partnership said the dividend greater than had expectd pay and was warranted fourth quarter results and anticipated results for this year first quarter tenera said expects comparable distribution for the second quarter said about cts per share the first quarter amount will taxable income reuter 
acq	hanson han unit sell kaiser terminal plant hanson industries the arm hanson trust plc han said has proposed sell separate transactions kaiser cement northwest terminals and montana city plant lone star industries inc lce and ash grove cement west inc respectively for total mln dlrs hanson said the deals are subject normal conditions closing hanson industries completed the purchase kaiser cement march for about mln dlrs hanson said kaiser cement now indirect wholly owned unit hanson trust and forms part its building products group these sales are continuation asset redeployment program kaiser cement and will allow kaiser concentrate its efforts the california marketplace where the largest cement producer and holds premiere market position hanson industries chairman gordon white said reuter 
crude	ecuador official seeks oil aid venezuela ecuador deputy energy minister fernando santos alvite arrived here last night for talks further venezuelan assistance his country oil industry following last week earthquake officials said ecuador was obliged suspend crude oil exports for expected five months result damage miles pipeline linking its jungle oil fields with the pacific port balao oil normally accounts for pct its exports fellow opec member venezuela has already agreed lend ecuador five mln barrels crude repaid kind after days help meet its domestic consumption needs reuter 
money-fx	money market given late help mln stg the bank england said provided the money market with unspecified late assistance around mln stg this brings its total assistance the day mln stg compared with liquidity shortfall estimated revised mln stg overnight interbank sterling was being offered eight pct shortly after the bank announcement reuter 
earn	bayer usa bayry affiliates increased sales bayer usa inc said sales its affiliated operating cmpanies based the increased pct from the previous year combined sales were billion dlrs from billion dlrs 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 bayer said mobay its primary chemicals company reported net income mln dlrs eight pct also said miles its pharmaceutical and healthcare company recorded net income mln dlrs pct increase over reuter 
earn	deb shops inc debs sets stock split deb shops inc said its board declared pct stock dividend and will increase the quarterly dividend four cts from cts after adjustm ent for the split the company said the split payable april holders record march the dividend increase will effective with the april payment said reuter 
acq	continental health cthl purchases marketech continental health affiliates inc said that has acquired marketech inc pct partner diatronics nutrition services continental said diantronics nutrition services joint venture with physicians providing patient ready home infusion therapy products and services outpatients five northern new jersery hospitals representing over inpatient beds continental said the terms the deal were not disclosed reuter 
earn	visual graphics sets dividends visual graphics corp vgca vgcb said its board declared quarterly dividend cts per share its class common stock and cts per share class common stock payable april three shareholders record march the company set the two classes common stock february previously the company had paid cent per share quarterly dividend one class common stock reuter 
earn	deb shops inc debs qtr jan net shr cts cts net sales mln mln year shr dlrs dlrs net mln mln sales mln mln reuter 
earn	regency cruises inc ship qtr net shr profit nine cts loss two cts net profit loss revs avg shrs mln mln year shr profit cts loss cts net profit loss revs mln avg shrs mln mln note company began operations nov reuter 
earn	seaman furniture inc seam qtr jan shr cts cts net sales mln mln avg shrs nine mths shr dlrs dlrs net mln sales mln mln reuter 
earn	novo industri earnings fall despite increased sales danish based insulin and enzymes producer novo industri nvo said pre tax earnings fell almost pct though sales rose two pct the pre tax figure fell mln crowns from mln sales increased from billion billion giving net earnings mln crowns against mln earnings per crown share went from crowns crowns but the company proposed unchanged pct dividend foreign exchange fluctuations were very significant factor behind developments the result before and after tax novo said statement not only the dollar but also other currencies essential novo fell relation the danish crown the statement added november novo purchased pct shares ferrosan which heads group specialising research and development cns central nervous treatment treatments and the sale pharmaceuticals and vitamins scandinavia the mln crowns paid goodwill had very limited effect the result the novo statement said reuter 
earn	scs compute inc scom qtr jan loss shr loss cts loss cts net loss loss revs avg shrs mln mln nine mths shr loss one dlr loss dlrs net loss loss revs avg shrs mln mln reuter 
acq	securities dealer has leaseway ltc stake alpine associates cresskill securities dealer told the securities and exchange commission has acquired shares leaseway transport corp pct the total outstanding common stock alpine limited partnership said bought the stock for mln dlrs investment the ordinary course its business securities dealer left open the possibility that might buy more leaseway stock sell some all its current stake but said has plans seek control the company reuter 
earn	empire carolina inc emp year net shr dlrs cts net revs mln mln avg shrs note results restated include deltona corp dlt investment equity method reuter 
earn	vhc ltd vhcl qtr oper net oper shr profit cts loss one oper net profit loss revs year oper shr profit cts loss cts oper net profit loss revs mln avg shrs note excludes gains dlrs cts and dlrs cts current qtr and year respectively from benefit tax loss carryforwards year ago excludes losses dlrs four cts qtr and dlrs eight cts year from discontinued operations restated reuter 
earn	transtech industries inc trti year net oper shr cts seven cts oper net revs mln mln avg shrs note net excludes dlr loss from discontinued operations reuter 
earn	anova ventures sets dividend duevel shares anova ventures corp said its board declared dividend payable the form registered shares stock duvel corp blind public pool anova describes itself publishing and financial services firm specializing arranging revers acquisitions and mergers between blind pools shells and private companies anova said created duvel act blind pool and will seek operating private company merger with duvel duvel has sold common shares private investor group finance expenses registration and shares will paid anova stockholders dividend added reuter 
acq	chrysler deal leaves uncertainty for amc workers chrysler corp billion dlr bid takeover american motors corp amo should help bolster the small automaker sales but leaves the future its employees doubt industry analysts say was business usual yesterday the american motors headquarters one day after the proposed merger was unveiled chrysler and amc french parent renault according company spokesman edd snyder but amc future discussed board meeting today would radically different chrysler subsidiary than had continued with the state run french car group its controlling shareholder industry analysts said the future amc car assembly plant kenosha wis and its toledo ohio jeep plant would doubt the overcapacity predicted the north american auto industry the early comes pass both plants are far from state the art for car manufacturing sites and amc has history poor labor relations each chrysler doesn 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 canada ronald glantz montgomery securities said that the very least the new owner the toledo plant would able wring concessions from the united automobile workers union local representing jeep workers the uaw won able hold them for ransom they have amc because during down year chrysler will have underutilized facilities transfer production said analysts said they foresaw major complications that would abort combination which historians said would the auto industry biggest merger since american motors was formed amc was need financial savior because its losses more than mln dlrs since and pressures france for renault cut its backing the company had said could not forecast consistent profitability until the earliest announcing the takeover agreement chrysler chairman lee iacocca cited amc jeep division well its new mln dlr assembly plant bramalea ontario and its network dealers the major attractions analysts reasoned that chrysler might feel moved eventually sell off close some the older plants cut overhead costs view the new debts and liabilities would incur the amc buyout reuter 
earn	nucor corp nue raises quarterly qtly div nine cts eight cts prior pay may record march reuter 
earn	kelsey hayes canada ltd year net shr dlrs dlrs net mln mln revs mln mln note shr restated reflect january stock split pct owned kelsey hayes reuter 
earn	riggs national corp rigs sets quarterly qtly div cts cts prior pay april record march reuter 
acq	pacer systems make acquisition pacer systems said has agreed principle acquire the assets sea data corp maker 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 qtr nov end shr four cts cts net sales year shr cts six cts net sales reuter 
earn	network video inc nvid qtr feb net shr one five cts net revs avg shrs nine mths shr four cts cts net revs avg shrs reuter 
earn	comtech inc cmtl qtr jan net oper shr profit one profit two cts oper net profit profit sales half oper shr profit two cts loss cts oper net profit loss sales backlog mln mln note current year net excludes tax credits dlrs quarter and dlrs half reuter 
earn	baltek corp btek qtr net oper shr cts cts oper net revs year oper shr dlrs cts oper net revs mln mln notel net excludes tax credit dlrs reversal credit dlrs quarter and credits dlrs dlrs year reuter 
acq	sahlen and associates salnu completes purchase sahlen and associates inc said has completed the purchase gleason securities service inc new york and gleason plant security inc connecticut sahlen said the deal terms were not disclosed but added that the acquired companies had combined annual revenues over mln dlrs sahlen private invetigation company said the gleason companies provide security guard services corporations the tri state area reuter 
earn	mem inc mem declares qtly div qtly div cts cts prior pay may record march reuter 
earn	insituform north america inc insua qtr shr nine cts four cts net revs avg shrs year oper shr cts cts oper net revs mln avg shrs note year net includes dlr tax credit reuter 
earn	major realty corp majr qtr loss shr loss cts profit cts net loss profit revs year shr loss cts profit cts net loss profit revs reuter 
earn	nutmeg industries inc nutm year jan net shr cts net sales mln note share adjusted for five for four stock split january backlog mln dlrs dlrs company began operating january reuter 
acq	henry ansbacher has pct adams and porter inc henry ansbacher holdings plc said has acquired pct interest the retail and general corporate insurance broker adams and porter inc the move the first step building new international insurance broking group following the appointment new management team for its seascope insurance holdings unit ansbacher said and has exciting growth potential particularly the east coast the and has annual revenue more than four mln dlrs ansbacher shares were helped the announcement earlier today pretax profit rise mln stg from mln reuter 
earn	natwest rabo unit reports pct profit growth dutch bank van lanschot bankiers owned national westminster plc nwbl and rabobank rabn said net profit rose pct mln guilders pct higher balance sheet total billion van lanschot bankiers subsidiary van lanschot beleggingscompagnie which britain national westminster bank plc and dutch cooperative bank rabobank nederland each have pct stake commercial union dutch insurance unit delta lloyd verzekeringsgroep has pct stake van lanschot which lowered risk provisions mln guilders 
money-fx	fed expected add reserves the federal reserve expected intervene the government securities market add temporary reserves via customer 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 direct injection reserves via overnight system repurchases federal funds opened pct and eased pct early trading funds averaged pct yesterday reuter 
earn	ben and jerry homemade inc bjic qtr net shr cts two cts net sales avg shrs year shr cts cts net sales mln avg shrs reuter 
earn	bonneville pacific corp bpco qtr jan shr cts cts net revs mln mln avg shrs nine mths shr cts cts net revs mln mln avg shrs reuter 
earn	penney jcp smith barney opinion penney stock rose sharply after analyst william smith smith barney recommended the stock based the company strong earnings momentum and the possibility stock buyback dividend hike stock split traders said 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 time that they needed the stock jumped smith said the company ended with strong cash position about mln dlrs compared mln dlrs the year before this implies the possibility share buyback significant dividend increase stock split said addition said the company has been gradually adjusting its merchandise mix and its gross margins have been improving smith expects the company earn dlrs share compared the dlrs share earned last year last year results include cent charge for the buyback debt reuter 
interest	bankers trust raises broker loan rate bankers trust said raised its broker loan rate pct from seven pct effective immediately trust which also quotes its broker loan rate publicly posting pct rate reuter 
acq	moore mccormack mmc sell globe unit moore mccormack resources inc said agreed principle sell its globe metallurgical inc unit cyprus minerals cypm for undisclosed terms the sale expected close mid april subject certain conditions including board approval both companies globe produces silicon metals and magnesium ferrosilicon the products are used the chemical aluminum iron rubber and semiconductor industries reuter 
acq	justice department reviews icahn usair filing the department justice doj reviewing whether trans world airlines inc twa and chairman carl icahn violated federal antitrust law failing seek advance clearance from the doj the federal trade commission for his extensive open market purchases usair group inc stock doj official told senate panel this matter that being looked into charles rule acting assistant attorney general antitrust told the senate judiciary committee antitrust subcommittee rule declined further comment while the review was continuing rule was responding panel chairman howard metzenbaum ohio who had asked why the department was not acting against what appears clear violation the law metzenbaum said icahn had failed file pre merger notification form with the ftc prior purchasing more than mln dlrs worth usair stock but rule said that for airline companies purchaser would exempt from the requirement instead had filed merger application with the department transportation icahn filed such application with the dot but the filing was thrown out the dot friday the dot threw out the application late friday grounds lacked the necessary data for the government review the proposed usair takeover bid icahn refiled more complete application form monday rule pledged act against icahn and twa violation were found reuter 
earn	cell sciences inc tcel qtr jan loss shr loss one loss cts net loss loss revs avg shrs nine mths shr loss seven cts loss cts net loss loss revs avg shrs reuter 
earn	mitchell energy and development corp mnd net qtr jan shr five cts cts net mln revs mln mln avg shrs mln mln year shr cts dlrs net mln revs mln mln avg shrs mln mln reuter 
money-fx	fed sets two billion dlr customer repurchase fed says 
earn	groundwater technology inc gwti qtr jan shr cts cts net sales avg shrs nine mths shr cts cts net sales mln mln avg shrs reuter 
earn	seven oaks international inc qpon payout qtly div four cts four cts prior pay april record march reuter 
money-fx	fed adds reserves via customer repurchases the federal reserve entered the government securities market arrange two billion dlrs customer repurchase agreements fed spokesman said dealers said federal funds were trading pct when the fed began its temporary and indirect supply reserves the banking system reuter 
earn	property trust america ptras year net ope shr cts cts oper net revs mln avg shrs note net excludes gains from sale investments dlrs dlrs reuter 
earn	chi chi inc chic qtr jan loss shr loss cts profit eight cts net loss mln profit revs mln mln nine mths shr loss cts profit cts net loss profit mln revs mln mln note current year net both periods includes mln dlr pretax charge for disposition underperforming company owned restaurants current year net includes tax credits dlrs quarter and dlrs year reuter 
acq	chemlawn corp said talking with new suitors about being acquired 
earn	chi chi chic takes mln dlr charge chi chi inc said has taken mln dlr pretax charge against earnings for the third quarter ended january cover the cost disposing underperforming company owned restaurants the company also said has agreed repurchase three mln common shares the open market the company now has about mln shares outstanding chi chi today reported loss for the third quarter ended january after the pretax charge and dlr tax credit mln dlrs compared with year earlier profit dlrs chi chi said believes the disposition the restaurants has the potential increasing its pretax earnings about two mln dlrs next fiscal year the company said will use existing cash resources for the share repurchases reuter 
earn	dupont recommendations shares pont rose today after accumulating recommendations from shearson lehman brothers and first boston traders said pont which opened with two point gain stood first boston analyst was not available for comment analyst theodore semegran shearson said raised his earnings estimates for the company dlrs share and eight dlrs share the company earned dlrs share good domestic demand higher operating earnings and strng export business probably benefitting from lower dollar and effects reduced imports chemicals will continue aid pont also noted that energy earnings the first quarter are better than expected because the rise crude prices semegran expects first quarter earnings about dlrs share from dlrs last year also expects the company raise its annual dividend about cts share from its current dividend dlrs share and stock split possible but has low probablility reuter 
acq	chemlawn chem talks being acquired chemlawn corp said has started talks the possible sale the company with various parties that did not identify the company said the talks began after considred and rejected waste management inc wmx dlr per share tender offer for all its sharesd chemlawn gave details the talks reuter 
acq	shv withdraws gas offer shv holdings said withdrawing its take over bid for imperial continental gas association icgs after failing gain the minimum number pledges sought from gas shareholders shv said statement had sought gain gas shares under offer for gas ordinary stock but was informed that level was not reached when the deadline expired the tender offer therefore void said shv also offered pence for every one stg nominal gas loan stock under the bid made shv united kingdom holding ltd reuter 
earn	lord abbett and declares mutual fund divs lord abbett value appreciation fund annual div cts cts prior long term capital gain cts prior short term capital gain cts cts prior pay april record march lord abbett government securities fund daily div cts cts prior pay april record april lord abbett tax free income national series daily cts prior pay april record april lord abbett tax free income fund series daily cts cts prior pay april record april lord abbett tax free income fund texas series daily cts cts prior pay april record april lord abbett california tax free income fund daily cts prior pay april record april reuter 
earn	associates corp north america qtr net qtr ended jan net mln dlrs mln dlrs revs mln mln note revs include investment and other income mln dlrs mln dlrs company wholly owned gulf and western corp reuter 
earn	newport pharmaceuticals nwph qtr loss period ended january shr loss six cts profit one net loss profit revs avg shrs nine mths shre loss nine cts loss five cts net loss loss revs avg shrs note full name newport pharmaceuticals international inc reuter 
earn	the raymond corp raym declares qtly div qtly div cts cts prior pay march record march reuter 
acq	investor take control river oaks roi river oaks industries inc said agreed principle give control the company benson seizer new york investor return for mln dlrs capital the company maker mobile homes said terminated merger discussions with nursing centers america river oaks said will place mln dlr convertible note with seizer who turn will name six additional members the company five member board one the new directors will take over chairman and chief executive officer river oaks said river oaks said the note will convertible into two mln shares its common stock one dlr share the company currently has mln shares outstanding the company said will also grant seizer option buy additional mln shares during the next four years dlrs share during the first year and dlrs share thereafter the company said the money raised from seizer will further strengthen its balance sheet and enhance its ability seek selective expansion opportunities seizer experienced turnaround situations and expected take direct involvement river oaks management said charles degroot who will remain director the company after giving the post chairman one seizer board nominees don manning will cede his post chief executive but will remain president the company said reuter 
earn	gevaert gevn year consolidated group net profit billion francs billion net financial and operating profit billion mln extraordinary earnings mln mln net dividend francs reuter 
interest	national savings move points lower rates interest rates look set move lower even after monday half point cut bank base rates pct analysts said citing evidence the suspension british national savings issue yesterday the department national savings effectively treasury department unit yesterday suspended its issue launched october and paying high tax free pct five year private investments between and stg spokesman said the suspension was just reaction yields national savings bonds being way out line with the rest the market the move was followed surprise sell out within minutes today bank england one billion stg tap issue the second such issue many weeks analysts noted they said the near instant sale the entire new gilts issue for which the bank england had required high pct downpayment was clear evidence that the market thought rates had drop sooner rather than later the sale the tranche pct treasury bonds due occurred active bullish gilts market downward pressure money market rates remained intact with the bellwether three month interbank rate down point pct coincided with another strong sterling rally which pushed the pound four year highs against the dollar that government stock disappeared very quickly indeed said stephen lewis head economic research stockbrokers phillips and drew indication that the market believes rates are going fall further least half point immediately after the budget march and some people hope for more stockbrokers james capel said comment the move the national savings department was considerable significance said the real message that the decks are being quickly cleared facilitate speedy decision the building societies cut their rates when the inevitable cut bank base rates pct materialises building societies have said drop bank base rates would normally have exceed half point give rise reduction mortgage lending rates lewis phillips and drew said too believed the national savings issue suspension may reflect new treasury policy point building societies towards mortgage rate cut national savings has been competing too effectively with the building societies late building society income has been depressed recent months said and other analysts said chancellor the exchequer nigel lawson was keen see mortgage rates fall keep lid inflation underlying upward pressure prices stronger britain than most other western economies with inflation seen rising well above four pct this year and above five pct after last year pct emphasising the impact mortgage rates consumer prices lewis said one point cut building society rates would reduce inflation britain about pct but lewis and others noted that building societies had been complaining the government about intense competition from national savings which they argued reduced the scope for early mortgage rate cuts the chancellor need not worried about losing some psbr funding from national savings but must taking the building societies criticism heart looks like the national savings move reflects this one senior dealer said savings department spokesman refused comment this interpretation saying the suspension the issue was merely reaction the recent fall interest rates which had pushed yields national savings bonds way out line with the rest the market are not politically motivated funding was just becoming too expensive and don need all that money told reuters adding the department had suspended issues least twice the past when offered interest rates were above below market rates said demand for the issue had risen sharply late money market rates continued their steady decline and income was threatening overshoot unofficial three billion stg target set for fiscal ending march the first months fiscal national saving contribution government funding totalled billion stg compared with billion stg the same period the previous year official figures show figures for february out monday are expected show further increase 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 cts previously pay may record march reuter 
earn	handleman hdl sets quarterly qtly div cts cts prior pay april record march reuter 
earn	perini corp pcr sets quarterly qtly div cts cts prior pay june record may reuter 
acq	jones and vining said vulcan corp offers five dlrs share for jones 
earn	international banknote inc ibk qtr loss oper shr loss cts loss cts oper net loss loss revs mln mln year oper shr profit nine cts profit two cts oper net profit revs mln mln note net excludes extraordinary tax charges dlrs dlrs quarter and credits dlrs dlrs year year net includes pretax gain dlrs from termination pension plan net includes pretax charge dlrs quarter and gain dlrs year from restructuring and consolidation quarter net includes dlr tax credit year net includes pretax gain mln dlrs from sale foreign subsidiary reuter 
trade	concerned over textile import moves the european community expressed disquiet over protectionist moves the united states limit imports textiles and said would retaliate immediately exports were hit spokeswoman for the commission said external trade commissioner willy clercq had written his counterpart special trade representative clayton yeutter outlining the concerns the nation community the draft legislation under consideration congress would impose permanent quotas products entering the and seek limit any increase growth the overall trade reuter 
earn	speed print business sbm qtr net shr loss seven cts profit cts net loss profit revs year shr loss cts profit cts net loss profit revs note results include operations radio stations wjye for the full year and wnnr for the last six months speed print business machines corp full name company reuter 
earn	asbestec industries asbs sets stock split asbestec industries inc said its board declared three for two stock split payable april record april three reuter 
earn	quaker oats oat regular dividend qtly div cts cts previously pay april record march reuter 
acq	jones and vining jnsv gets vulcan vul bid jones and vining inc said vulcan corp one its main competitors the production shoe lasts has offered acquire jones and vining for five dlrs share jones and vining said management effort take the company private will ahead dlrs per share the form the buyout has not yet been determined and the buyout subject nunber conditions said jones and vining said its board believes that transaction with vulcan would difficult complete but has asked vulcan for further information explore the bid january jones and vining said its board had recommended that shareholders aprove management buyout dlrs share february six vulcan initially offered acquire jones and vining for five dlrs share but jones and vining dismissed the offer frivolous and without substance and said the bid failed comply with provisions the securities act reuter 
earn	ppg industries ppg sees growth ppg industries inc will continue show earnings growth despite difficult economic climate the company said its annual report mailed shareholders today for the company earnings rose five pct mln dlrs revenues that increased eight pct billion dlrs earnings per share were dlrs compared with dlrs the company added that its return equity reached pct from pct and close its goal pct reuter 
acq	belgian minister unveils privatisation plan belgian budget minister guy verhofstadt has proposed plan sell off shares 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 revenue over the next five years according verhofstadt projections helping the government reduce its huge budget deficit targetted this year billion francs but the scheme had received guarded reception from the social christian parties belgium centre right coalition when verhofstadt unveiled cabinet meeting yesterday discussion the plan was likely long and difficult the sources said verhofstadt proposes beginning the selloffs the last quarter with the sale pct state investment company sni expects the sale raise three billion francs they added pct share sabena would sold mid for billion francs while pct the postal and telecommunications authority would sold off two stages mid and early raising least seven billion francs also verhofstadt list are the maritime transport authority leading gas distributor distrigaz cger savings bank cger and several other credit institutions soir daily quoted cger vice president paul henrion expressing strong opposition the privatisation his bank public company are and public company wish stay henrion told the paper reuter 
earn	science dynamics corp sidy year net shr cts cts net revs reuter 
earn	foodarama supermarkets inc fsm qtr jan shr cts cts net sales mln mln notel prior year net includes pretax charge dlrs for reopening eight stores reuter 
earn	engineering measurements emco qtr net qtr ends jan shr four cts cts net revs nine mths shr cts cts net revs note excludes discontinued operations gain dlrs the third quarter fiscal and loss dlrs the nine months fiscal reuter 
earn	boothe financial corp bcmp qtr net shr one cts net revs mln mln avg shrs mln mln mths shr dlrs dlrs net revs mln mln avg shrs mln mln note restated reflect tax loss carryforwards reuter 
earn	consolidated natural gas cng payout qtly div cts cts prior pay may record april reuter 
earn	sandusky plastics inc spi sets quarterly qtly div six cts six cts prior pay march record march reuter 
acq	rexnord rex sell railway equipment unit rexnord said signed definitive agreement sell its railway maintenance equipment subsidiary banner industries inc terms were withheld said railway maintenance had sales mln dlrs and employs people rexnord said the sale part major program divest several its businesses representing about mln dlrs net assets still divested are the process machinery division with sales mln dlrs and mathews conveyer with sales mln dlrs reuter 
acq	meese sees plus chrysler amc merger attorney general edwin meese said saw some benefit the proposed purchase american motors amo chrysler corp that would return the smallest the auto manufacturers american hands meese told the house appropriations subcommittee that consideration would part the justice department review the proposed merger said the agency has not yet received formal notice the merger which would start the review process chrysler has made billion dlr bid buy amc from its french parent renault think one the things that has recognized that merger that appears least that good portion the ownership american motors which has been overseas hands will put back american hands meese told the subcommittee that may one the factors that would weighed the judgment added renault currently holds about pct amc reuter 
ship	dutch parliament offers little help port row dutch members parliament said they could little help resolve the dispute over redundancies rotterdam port general cargo sector and urged the union and employers sort out their differences themselves both sides gave evidence the all party standing committee social affairs today but committee members said they saw little chance parliamentary intervention the dispute began january protest employers plans for redundancies from the strong workforce starting with this year the port and transport union fnv challenge the redundancies amsterdam court tomorrow reuter 
acq	sosnoff says caesars caw offered stock buyback martin sosnoff who has offered buy caesars world inc for dlrs share said senior officials the company have offered buy back the caesars stake already holds now pct the total outstanding filing with the securities and exchange commission sosnoff new york investor and money manager said the offers buy back his stock occurred several occasions during the past year the offers were made several caesars world representatives including its chairman henry gluck said sosnoff said rejected all the proposals the caesars world official suggested various forms payment for sosnoff stake including other securities the company and cash said sosnoff did not detail the value the proposed compensation also suggested was deal involving put and call option regarding sosnoff caesars world holdings said the proposed deals would have also included standstill agreement which would have restricted sosnoff right buy more caesars world stock take any action adverse incumbent management said sosnoff report the offers received for his caesars world shares were amended his official offer purchase the company well reported the sec sosnoff now holds about mln caesars world shares pct the company mln shares outstanding the sosnoff offer buy the shares the company does not already hold has been valued mln dlrs reuter 
earn	for better living inc qtr net shr profit primary cts loss cts shr profit diluted cts loss cts net profit loss sales mln mln year shr profit profit dlrs profit five cts shr profit diluted dlrs profit five cts net profit profit sales mln mln note prior qtr and year figures include gains disposal discontinued operations dlrs and dlrs respectively reuter 
earn	newport electronics inc newe qtr net oper shr loss nine cts loss four cts oper net loss loss sales year oper shr profit cts profit cts oper net profit profit sales mln mln avg shrs note current qtr and year figures exclude operating loss carryforward gain dlrs gain dlrs prior year periods reuter 
earn	transco exploration partners ltd exp payout qtly div cts cts prior pay june one record may eight reuter 
earn	transco energy sets quarterly qtly div cts cts prior pay june one record may eight reuter 
earn	total erickson resources ltd tlexf year net shr profit nine cts loss cts net profit loss revs note net includes mln dlr nine shr writedown nine pct stake trans canada resources ltd results reflect only six mths mining operations due merger erickson gold mines ltd and total eastcan exploration ltd june reuter 
acq	versar vsr buy marietta unit versar inc said has agreed principle acquire martin marietta corp martin marietta environmental systems unit for about dlrs versar said would use its working capital and established life credit find the purchase which subject approval both boards and expected completed april marietta environmental had revenues about nine mln dlrs versar said the acquisition should have moderately favorable effect its earnings this year reuter 
interest	banks offer fixed rate mortgages pct two major clearing banks announced they will offer total mln stg new mortgages fixed interest rate pct for the first three years below current bank base lending rates pct midland bank plc mdbl said has initially allocated mln stg for home loans this rate while lloyds bank plc lloy will offer mln stg earlier this week midland said would cut its standard rate mortgage payment pct from april following half percentage point reduction 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 fixed rate pct certain home loans midland spokesman said his bank calculated that the current level billion stg its existing mortgage book accounts for about pct the total british home loan market lloyds said has billion stg outstanding mortgage loans but had not estimated its total market share among other major clearing banks barclays plc bcs and national westminister bank plc nwbl said they had immediate plans announce similar fixed rate schemes reuter 
acq	jim walter jwc busy owens corning ocf plant jim walter corp said completed the acquisition owens corning fiberglas corp mineral ceiling and fiberboard plant meridian miss terms were not disclosed the plant operations will complement existing ceiling materials production within jim walter building material group which last year generated income mln dlrs sales mln dlrs reuter 
ship	american president aps lease more ships american president cos ltd said its american president lines shipping subsidiary obtained final approval from and japanese authorities lease four new ships from lykes bros the move will will enable boost service the pacific pct american president said the company said will lease the ships for three years and hold two additional three year options said american president lines currently operating capacity the pacific and the new ships will arrive time for the normal demand surge the spring and summer seasons reuter 
earn	bowne and inc bne sets stock split bowne and inc said its board declared two for one stock split payable may holders record april reuter 
acq	investment firm boosts amerford amrf stake louart corp los angeles investment firm said raised its stake amerford international corp shares pct the total outstanding from shares pct filing with the securities and exchange commission louart said bought amerford common shares between march and jan prices ranging from dlrs share said bought the shares for investment purposes and might increase its stake the future reuter 
acq	first boston fbc swiss affiliate boosts stake first boston the swiss affiliate first boston inc said raised its stake the company shares pct the total from shares pct filing with the securities and exchange commission financiere credit suisse said bought first boston common shares between feb and prices ranging from dlrs share mln dlrs total said bought the shares part agreement raise its minority stake first boston pct the same stake level first boston holds financiere credit suisse reuter 
earn	numac oil and gas ltd nmc year net oper shr cts cts oper net mln revs mln mln note cash flow mln dlrs cts shr mln dlrs dlrs shr net excludes shr loss from discontinued operations gross proven and probable reserves crude oil and natural gas liquiids mln barrels off pct from year before reuter 
earn	farah fra again omits quarterly dividend farah inc said omitted its quarterly common stock dividend for the second consecutive quarter the company which last paid quarterly common dividend cts share december said will consider future dividend payments the basis improved profitability and cash flow farah said expects turn profit for the balance for its first quarter ended january farah lost dlrs cts share sales mln dlrs addition farah said received shareholder approval change its name farah inc from farah manufacturing reuter 
crude	jordan petrocanada agree oil exploration project two year project search for oil and gas jordan was agreed amman jordan natural resources authority nra and the canadian company petrocanada international assistance corporation pciac the mln dlr assistance agreement was signed jordan minister energy hisham khatib and pciac chairman peter towe pciac canadian government corporation providing assistance countries like jordan reduce their dependence oil imports towe said reuter 
earn	numac oil nmc sees results improving numac oil and gas ltd said expects significant improvement operating performance during the company today reported earnings from continuing operations dlrs down from mln dlrs yuear earlier due lower prices for crude oil and pipeline capacity constraints numac said changes introduced federal and provincial governments during should help results reuter 
earn	heinz qtr shr cts cts 
earn	heinz raises quarterly cts from cts 
earn	ranchmen resources ltd year loss shr loss seven cts loss dlrs net profit loss revs mln mln note current shr after preferred dividends mln dlrs prior shr and net includes mln dlr writedown oil properties reuter 
acq	oak industries oak buy rexnord rex unit oak industries said signed definitive agreement buy the stock rexnord inc railway maintenance equipment unit for undisclosed sum the company said railway maintenance had revenues mln dlrs oak said the acquisition part its two tier strategy buying releated and unrelated businesses oak had tax loss carryforward mln dlrs the end reuter 
earn	sumitomo bank sumi declares stock dividend sumitomo bank california said declared pct stock dividend addition its regular quarterly cash dividend cts per share both dividends are payable april shareholders record march the company said reuter 
earn	lsb bancshares inc lxbk raises payout qtly div cts cts prior pay april record april one reuter 
earn	heinz hnz qtr jan net shr cts cts qtly div cts cts prior net mln mln revs billion billion nine mths shr dlrs dlrs net mln mln revs billion billion note dividend payable april shareholders record march reuter 
acq	wall street stocks tenneco inc tgt tenneco inc company that has long been rumored takeover candidate rose sharply today when speculation surfaced that investor boone pickens may targeting the company for acquisition traders and analysts said tenneco spokesman joseph macrum said have comment make whatsoever pickens was not available for comment traders noted that activity the stock increased today after published report linked pickens tenneco tenneco rose two points paul feretti analyst with new orleans based howard weil labouisse friedrichs inc said was not surprised market rumors that tenneco might the target takeover attempt pure market speculation that boone pickens and his group may interested feretti said but tenneco would challenge run because its sheer size and diversity pickens man who likes challenge pickens who made unsuccessful attempt take over dallas based diamond shamrock corp dia last winter has made secret his plans acquire additional natural gas reserves the belief that gas prices will stabilize sooner than oil prices tenneco holds natural gas reserves estimated excess trillion cubic feet analysts said feretti conservatively estimated tenneco breakup value dlrs share and said the company generated cash flow about dlrs share which probably very attractive pickens other analysts however estimate breakup value well into the dlr share range strongly doubt that there going any hostile takeover drexel burnham lambert inc houston based analyst john olson said putting little credence the rumors tenneco gargantuan enterprise with seven billion dlrs long term debt and preferred stock outstanding said the buyer would also have deal with the intractable problems tenneco faces with its farm equipment unit and energy businesses analysts suggested that tenneco could use number defensive strategies fend off unwanted buyer such spin off some its non energy businesses directly shareholders buy back shares create limited partnership out its natural gas pipeline interests analyst who asked remain unidentified discouraged the pickens rumor pickens has plateful already with his holdings burlington northern and amerada hess said don think would willing take tenneco problems with case the farm equipment unit which has been losing about mln dlrs annually and worth less than billion dlrs the market today reuter 
earn	software saga sees weak results software systems inc said expects report earnings for its third quarter substantially weaker than earnings prior periods due unexpected shortfall domestic license revenues for the second quarter ended november software earned dlrs down from dlrs year before last year third quarter software earned dlrs reuter 
earn	miles laboratories inc qtr net net sales mln mln year net sales billion billion note company subsidiary bayer west germany figures exclude miles bayvet animal health business sold jan mobay corp another bayer affiliate reuter 
earn	intelligent systems mlp inp qtr dec net shr profit cts profit five cts net profit profit rev mln mln avg shares nine months shr profit cts loss cts net profit loss rev mln mln note third qtr net includes gain from discontinued operations mln dlrs cts share two cts share fiscal third qtr nine months net includes gain from discontinued operations mln dlrs cts share dlrs seven cts share the first nine months fiscal 
earn	shadowfax resources ltd shfxf year loss shr loss three cts profit cts net loss profit revs note year includes dlr writedown utah oil and gas properties reuter 
acq	paralax vido agrees acquire american video paralax video enterprises inc said has agreeed acquire american video group inc exchange for paralax restricted common shares and three year warrants buy restricted shares six dlrs share paralax said holders some american video convertible debentures have elected exchange them for paralax restricted common with market value about dlrs with that value determined about days american video closely held company operating video rental concessions post and base exchanges army air force navy and coast guard installations its most recent year the company had revenues about mln dlrs paralax said the acquisition scheduled close march the company now has about mln shares outstanding reuter 
earn	kurzweil music systems inc kurm qtr loss shr loss cts loss cts net loss loss revs avg shrs year shr loss cts loss dlrs net loss loss revs avg shrs reuter 
earn	morgan and inc jpm sets quarterly dividend cts cts previously pay april record march reuter 
acq	bayly bayl buys majority chutes bayly corp said acquired pct chutes corp maker denim oriented sportswear headquartered seattle wash terms were not disclosed reuter 
earn	intelligent systems mlp inp makes cash payout intelligent systems master limited partnership said will make cash distribution cts unit early april unitholders record march the company said continued strength its results prompted the move intelligent systems added that current plans sell some its assets previously announced are successful may make further distributions estimated cts cts unit earlier the company reported fiscal third quarter ended december net income mln dlrs cts share from fiscal third quarter results dlrs five cts share addition reported fiscal nine months net income mln dlrs cts share versus loss mln dlrs cts share fiscal first three quarters reuter 
earn	kurzweil kurm has reduced work force kurzweil music systems inc said has taken steps this year reduce costs including pct reduction its work force spokesman said the company now has about employees said other reductions include the use professional services administrative costs manufacturing overhead and non essential development services adding these cuts are expected have significant impact beginning the second quarter earlier today kurzweil reported loss cts share compared loss dlrs share reuter 
earn	heinz hnz has higher net despite higher costs heinz said net income for the third quarter rose pct despite pct increase marketing expenses meanwhile the company said raised its quarterly dividend cts share from cts share part the expectation that its tax rate under the new tax law will result greater cash flow for the third quarter ended january heinz earned mln dlrs cts share from earnings mln dlrs cts share for the year ago quarter for the nine months the company posted profit mln dlrs dlrs share compared with profit mln dlrs dlrs share for the year ago period based the company performance for the first nine months expect achieve our consecutive year new growth records anthony reilly heinz newly elected chairman reuter 
earn	wall street stocks ich corp ich ich corp stock continued under pressure because lower earnings expectations wall street analysts said the stock was down one today and down about four since thursday when ich announced would reporting lower than expected fourth quarter net income the company said would report full year net income dlrs per share compared dlrs per share analysts said they had estimated net dlrs and were now looking for dlr dlr range ich officials were unavailable for comment reuter 
earn	invacare corp ivcr qtr net shr profit cts profit cts net profit dlrs profit dlrs rev mln dlrs mln dlrs mths shr profit cts loss cts net profit dlrs loss dlrs revs mln dlrs mln dlrs reuter 
earn	renaissance energy ltd year net shr cts cts net revs mln mln avg shrs reuter 
earn	invacare ivcr expects higher sales invacare corp chairman president and chief executive officer malachi mixon iii said expects the home healthcare equipment company post sales increases the pct range mixon said the increases should come from internal growth well potential acquisitions invacare aggressively seeking acquisitions complement the company existing product lines mixon said earlier the company reported fourth quarter net mln dlrs cts share from mln dlrs cts share fourth quarter invacare also reported net income mln dlrs cts share from loss mln dlrs cts share reuter 
earn	lamson and sessions lms qtr loss oper shr loss cts profit five cts oper net loss profit revs mln mln year oper shr loss cts profit cts oper net loss profit revs mln mln note excludes discontinued operations loss dlrs share versus loss nine cts the quarter and loss dlrs share versus loss cts the year also excludes extraordinary loss six cts share the fourth quarter and gain dlrs share full year also excludes full year gain cts per share from accounting change reuter 
trade	south korea keep trade surplus years south korean trade minister rha woong bae said his nation would maintain trading surplus for three five years way cut its foreign debt said interview with reuter that after few years was likely south korea would drop barriers foreign goods and move toward more balanced trade position said the present trade surplus was vital his nation was reduce its billion dlr foreign debt rha said that was the first year south korea had trade surplus billion dlrs against deficit mln dlrs rha made his remarks the end two week trade mission here during which team led agreed buy products valued billion dlrs about mln dlrs the purchases here were goods the type south korea normally bought from japan rha leaves today for ottawa for trade talks with canadian officials and businessmen asked south korea would retaliate against goods congress closed markets its products said this moment have thought retaliation south korea major exporter the textiles and apparel and electronic goods such 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 qtr shr cts cts shr diluted cts cts net revs mln mln avg shrs year shr cts cts shr diluted cts cts net revs mln mln avg shrs note results for and week periods ended january and week periods ended december net both periods includes gain dlrs from tax loss carryforward spokeswoman said average shares outstanding diluted basis were not available reuter 
earn	southern new england telecom sng declares div qtly div cts cts prior pay april record march note company full name southern new england telecommunications corp reuter 
earn	empire carolina inc emp qtr net shr cts cts net dlrs dlrs revs mln dlrs mln dlrs mths shr dlrs cts net dlrs dlrs revs mln dlrs mln dlrs note empire investment the deltona corp reported the equity method beginning the fourth qtr amounts for and the first three qtrs have been restated reflect the retroactive application during the pct debentures and dlrs preferred stock were redeemed converted resulting common shares outstanding december compared common shares outstanding december reuter 
earn	enseco inc ncco qtr loss oper shr loss six cts profit seven cts oper net loss profit revs avg shrs mln mln year oper shr loss six cts profit cts oper net loss profit revs mln mln avg shrs mln mln note excludes extraordinary credit four cts share fourth quarter and cts year reuter 
acq	corrected rexnord rex sell railway unit rexnord inc said signed definitive agreement sell its railway maintenance equipment subsidiary oak industries inc terms were withheld also participating the agreement was banner industries inc which previously agreed acquire rexnord railway maintenance had sales mln dlrs rexnord said the sale part major program divest several its businesses representing about mln dlrs net assets still divested are the process machinery division with sales mln dlrs and mathews conveyer with sales mln dlrs corrects mame purchaser reuter 
acq	wall street stocks supermarkets general sgl dart group corp darta which wants acquire supermarkets general corp for billion dlrs not likely give without fight its target seeks another buyer arbitrageurs said speculation that dart offer dlrs per share could just the beginning bidding contest helped supermarkets shares gain one mln shares one rumor had federated department stores inc fds taking look supermarkets general our policy that not comment any rumors speculation this nature federated spokeswoman said arbitrageur noted that dart controlled chairman herbert haft and his son robert last year raised its initial bid for safeway stores approximately pct when safeway resisted however that company was later sold buyout group that topped the hafts history repeats itself the hafts could raise their bid dlrs they are rebuffed supermarkets general the arbitrageur said but another arbitrageur said the hafts present bid seemed quite fair said the offer amounts times after tax cash flow which probably fully priced reuter 
acq	american motors amo weighs takeover proposal american motors corp said its directors met wednesday review the takeover proposal which the corporation received monday from chrysler corp amc said its board has retained independent investment and legal advisers and expects meet periodically over the next several weeks the proposal reuter 
earn	bangor hydro electric bang sets dividend qtly div cts cts pay april record march reuter 
acq	kansas city southern ksu merger response kansas city southern industries inc said attempt santa southern pacific sfx reopen the proposed merger the atchison topeka and santa railway and the southern pacific transportation offers nothing truly new letter shippers kansas city chairman landon rowland stated this proposed merger plainly anti competitive found the icc and urged the department justice nothing has changed landon said kansas city southern continuing its efforts acquire the transportation operation santa railway reuter 
acq	coke affiliate sell delaurentiis deg stake laurentiis entertainment group inc said embassy communications californai general partnership affiliated with coca cola plans sell its pct stake the company filing with the securities and exchange commission for secondary offering laurentiis said embassy will offer its entire stake the company shares common stock the public sale laurentiis said has mln shares outstanding painewebber inc will underwrite the offering reuter 
earn	herley microwave hrly qtr jan net shr nine cts cts net rev mln four mln six months shr cts cts net rev mln mln note company full name herley microwave systems inc reuter 
acq	williams cos wmb completes sale unit williams cos said completed the sale its agrico chemical unit freeport mcmoran resource partners frp for initial mln dlrs cash the company said will also receive additional mln dlrs five years based the operating performance the unit said the cash proceeds will used lower its debt costs reuter 
trade	south korea maintain trade surplus years south korean trade minister rha woong bae said his nation would maintain trading surplus for three five years way cut its foreign debt said interview with reuters that after few years was likely south korea would drop barriers foreign goods and move toward more balanced trade position said the present trade surplus was vital his nation was reduce its billion dlr foreign debt rha said that was the first year south korea had trade surplus billion dlrs against deficit mln dlrs asked south korea would drop its trade barriers once its foreign debt was substantially reduced said yes think rha made his remarks the end two week trade mission here during which team led agreed buy products valued billion dlrs about mln dlrs the purchases are goods the type south korea normally bought from japan rha was leave later today for ottawa for trade talks with canadian officials and businessmen said the interview the purchases were reduce his country billion dlr surplus with the united states and also cut its billion dlr shortfall with japan rha said was also due shift exchange rates between the dollar and the yen that made cheaper buy goods than japanese goods said south korea heavily relied foreign trade and hoped the leaders major trading nations could find way resolve the growing trend toward protectionist legislation rha said hope the leaders can get together find solution making some mutually satisfactory concessions but added the leaders seem hesitant make concessions because domestic political reasons speaking his own country said have made lot concessions already cited regulations permitting foreign investment industrial firms allowing increased foreign banking activity and cracking down piracy intellectual property strengthening protection copyrights and patents rha said south korea had also lowered many its tariffs asked south korea would retaliate against goods congress closed markets its products said this moment have thought retaliation south korea major exporter the united states textiles and apparel and electronic goods such 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 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 pct industrial equity pacific ltd hong kong investment firm said raised its stake calmat shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission industrial equity which principally owned brierley investments ltd publicly held new zealand firm said bought calmat common shares between feb and march for mln dlrs has said bought the stock for investment purposes but may raise its stake pct reuter 
acq	paralax video vido buy american video paralax video enterprises inc said signed definitive agreement buy american video group inc for stock according the merger proposal american video shareholders will receive about restricted paralax shares and warrants buy another restricted shares six dlrs share the warrants run for three years addition said holders american video convertible debentures agreed exchange their holdings for about dlrs worth paralax stock american video operates stores military bases reuter 
earn	lamson sessions lms drops rail parts operations lamson and sessions said has decided discontinue operations youngstown steel door maker components and equipment for railroad freight cars the company said the unit sold sometime this year was included discontinued operations its results announced earlier today the company reported loss from continuing operations mln dlrs for the year against profit mln dlrs for discontinued operations reported loss mln dlrs compared year earlier loss dlrs reuter 
acq	rochester telephone rtc buy canton phone rochester telephone corp said agreed buy canton telephone for undisclosed terms canton serves customers northeastern penn had operating revenues about mln dlrs the company said reuter 
earn	wallace computer services inc wcs dividend qtly div cts cts previously pay june record june one reuter 
earn	iroquois brands ltd ibl qtr loss oper shr loss cts loss cts oper net loss loss revs mln mln mths oper shr loss dlrs loss dlrs oper net loss loss revs mln mln note excludes gain dlrs share versus gain cts the quarter and gain dlrs share versus gain dlrs the year from discontinued and disposed operations reuter 
acq	alabama investor ups penobscot shoe pso stake donaldson bramham lee investor from birmingham alabama said raised his stake penobscot shoe shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission lee said bought penobscot common shares between feb and march prices ranging from dlrs share lee has said bought the penobscot stock for investment purposes only and has plans seek control the company although may buy more stock reuter 
earn	aero services aeroe sees better aero services international inc said expects achieve improvements overall operations the year ending september earlier aero reported year end net loss mln dlrs compared profit dlrs the company said the loss was attributable costs associated with its acquisition costs and operating losses nine beckett aviation fixed base operations purchased august and discontinued weather service and flight simulator segments reuter 
earn	aero services international inc aeroe year shr loss cts profit cts net loss mln profit revs mln mln note net loss includes loss mln dlrs cts share from discontinued operations revenues include revenues for the last eight months beckett aviation acquired september year ended september reuter 
earn	vista resources inc vist qtr net shr dlrs one dlr net revs mln mln mths shr dlrs dlrs net revs mln mln reuter 
earn	brae corp brae qtr dec loss shr loss dlrs profit two cts net loss profit revs mln mln nine mths shr loss dlrs loss cts net loss loss revs mln mln note includes losses from discontinued operations dlrs loss dlrs qtr and dlrs loss dlrs loss nine mths reuter 
crude	marathon raise crude prices cts bbl tomorrow wti dlrs 
acq	general electric sell datel unit general electric semiconductor business said agreed sell its datel unit group led the unit president nicolas tagaris terms were not disclosed tagaris founded the company which produces precision data acquisition conversion and control components and subsystems sold reuter 
acq	trico tro sets date for acquisition vote trico industries inc said set march the date for special shareholders meeting for vote the proposed acquisition the company paccar inc pcar january the two companies announced agreement covering proposed acquisition paccar trico approximately mln shares outstanding for eight dlrs per share cash reuter 
acq	hughes tool shareholders approve merger with baker international 
earn	canadian gypsum ltd year net shr dlrs dlrs net mln mln revs mln mln reuter 
acq	crew union sets pact with pacific southwest psg pacific southwest airlines said reached agreement with the southwest crew controllers association needed satisfy conditions usair group proposed acquisition psa psa said this the third four unions agreement needed with for usair acquisition consummated under the agreement psa crew controllers received assurances they will provided with labor protective provisions and seniority integration process reuter 
earn	southernnet inc sout qtr net shr cts four cts net revs mln mln year shr cts cts net revs mln mln reuter 
ship	senator lugar calls for cargo preference repeal the senior republican the senate agriculture committee richard lugar indiana called for repeal the cargo preference law that aids the american shipping industry but which said hurts farmers cargo preference costly special interest operated the expense american farmers and dockworkers lugar said signing sponsor cargo preference repeal legislation the law requires shipment goods 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 profit eight cts net loss mln profit revs mln mln note net includes negative effect accounting change five cts share reuter 
crude	eia says distillate gas stocks off week distillate fuel stocks held primary storage fell mln barrels the week ended march six mln barrels the energy information administration eia said its weekly petroleum status report the department energy agency said gasoline stocks were off barrels the week mln barrels and refinery crude oil stocks fell mln barrels mln the eia said residual fuel stocks fell mln barrels mln barrels and crude oil stocks the strategic petroleum reserve spr rose barrels mln the total all crude refined product and spr stocks fell mln barrels said reuter 
interest	philippine debt talks delayed for consultations today debt rescheduling talks between the philippines government and its bank advisory committee were postponed until thursday give the banks more time consider manila novel proposal for paying part its interest bill notes instead cash bankers said the committee banks met briefly earlier today and decided that they needed more time particular consider news report which quoted reagan administration official urging that the proposal given serious consideration the banks felt that this was new information and that further consultation was called for one banker said despatch yesterday from washington reuters quoted the official saying manila plan pay some interest with notes that could converted into equity investments the philippines was fully consistent with the reagan administration strategy for handling developing country debt the philippine proposal very interesting quite unique and don think something that should categorically rejected out hand the official said because the key role the plays the debt crisis foreign banks particular wanted time analyze the significance the policymaker comments bankers said reuter 
acq	harper and row gets bid from harcourt brace jovanovich for dlrs shr 
acq	hughes approves merger with baker bko overwhelming majority hughes tool shareholders approved merger agreement with baker international corp based revised terms that allow the companies additional time sell drilling bit business required the justice department hughes chairman william kistler said the revised terms the proposed consent decree also set mln dlr cap how much funding the newly combined companies will have spend the disputed drilling bit business until sold earlier proposed consent decree did not establish funding limit the baker hughes merger which would would create billion dlr oilfield services company almost fell through earlier this month when hughes balked terms proposed justice department consent decree that would have given the companies only three months find buyer for the reed business baker said today would withdraw the one billion dlr lawsuit had filed force hughes follow through with the merger hughes kistler speaking reporters after pct hughes shareholders approved the merger said the revised terms the agreement give the companies six months find buyer for the reed drilling bit business the previous agreement had proposed three month period kistler said the the government had also indicated would consider granting necessary additional three month extension complete the sale said there were several people looking the domestic drilling bit business the companies kistler said have also decided voluntarily sell reed plant singapore kistler estimated that the merger which should completed about two weeks will result annual cost savings about mln dlrs said expects substantial cutbacks the member workforce baker hughes inc the name the merged company will take kistler said the cost savings and greater efficiencies should put the company profitable course think that the third fourth quarter after the merger should see something close breakeven said the fourth quarter hughes earned mln dlrs sales mln dlrs baker its first fiscal quarter ended december lost mln dlrs revenues mln dlrs reuter 
crude	usx unit raise most crude postings usx subsidiary marathon petroleum said will raise its contract prices for eleven grades crude oil cts barrel effective tomorrow the increase brings marathon posted price for west texas intermediate and west texas sour grades dlrs barrel the light louisiana grade was also raised cts dlrs barrel reuter 
earn	dollar general corp dolr qtr net shr cts cts net revs mln mln year shr cts cts net mln revs mln mln reuter 
acq	broad acquires vogt and conant unit broad corp said acquired the construction activities vogt and conant cleveland the combined companies called broad vogt and conant inc will the largest structural steel erection company the combined sales the two operations were more than mln dlrs reuter 
acq	harper hpr gets bid from harcourt hbj harper and row publishers inc said received acquisition offer from harcourt brace jovanovich inc acquire all harper and row shares dlrs share cash harper said will consider the proposal including such possible concerns anti trust and other legal considerations monday harper and row received surprise dlr share bid from investor theodore cross owner six pct the shares for the stock does not own harcourt made clear its offer that will step aside harper directors and shareholders reject the bid harper said harper said the board has previously expressed strong determination remain independent publishing enterprise harper also said that new world pictures shareholder has requested copy harper shareholder list used soliciting proxies new world has shares the total mln shares harper and row stock closed off after rising points yesterday shareholders are due vote april shareholders rights plan designed thwart hostile takeovers ivan obolensky analyst with the investment banking for sterling grace and said harper and row one the few remaining independent publishers with back list authors stretching back years said long the company maintains copyrights with the estates deceased authors controls all motion picture and television rights the stories and said new printing technologies make new editions profitable business harcourt brace needs back list that nature and willing pay for obolensky said but said harper and row has plenty beef warrant dlr bid reuter 
acq	goldman sells most pennsylvania fpa stock goldman sachs and told the securities and exchange commission sold nearly its entire stake first pennsylvania corp shares pct the total outstanding common stock goldman sachs said has about first pennsylvania common shares remaining february the company redeemed convertible debentures with common stock which once increased goldman stock holding and the total outstanding goldman sachs said originally bought the stake part its arbitrage business marine midland banks has agreement principal acquire first pennsylvania reuter 
earn	lionel corp lio qtr jan oper net oper shr dlr cts oper net mln revs mln mln avg shrs mln mln year oper shr cts cts oper net revs mln mln avg shrs mln note prior year qtr and year oper net excludes mln dlrs and mln dlrs respectively for income from discontinued operations prior year qtr and year oper net also excludes mln dlrs and mln dlrs respectively for operating loss carryforwards and other reogranization items prior year qtr and year ended january reuter 
earn	montreal city district savings bank qtr shr cts cts net mln mln loans not given deposits not given assets billion not given note full name montreal city and district savings bank period ended january reuter 
acq	businessman has pct del webb dwp john cotton arizona businessman told the securities and exchange commission has acquired the equivalent shares class common shares del webb investment properties pct the total cotton president finalco group inc paradise valley ariz data processing equipment maker said bought the stake which includes warrants buy shares for dlrs the warrants are exerciseable dlrs share said cotton said bought the stock for investment purposes only reuter 
earn	astec industries inc aste qtr dec shr loss nine cts profit cts net loss profit revs mln mln year shr profit cts profit cts net profit mln profit revs mln mln note net includes loss three cts mln dlrs qtr and loss cts dlrs year from discontinued operations reuter 
earn	bank british columbia qtr jan net oper shr loss two cts profit three cts oper net profit dlrs profit year period ended october oper shr loss cts profit cts oper net loss profit assets billion billion note qtr net excludes extraordinary loss mln dlrs six cts shr net excludes extraordinary loss mln dlrs dlrs shr involving mln dlrs costs from sale bank assets hongkong bank canada eight mln dlrs for contingent liabilities respect litigation and potential tax reassessment govt and mln dlrs deferred tax debits most bank assets sold hongkong bank canada unit hong kong and shanghai banking corp nov shr after preferred divs reuter 
earn	restaurant associates inc qtr jan shr cts cts net mln mln revs mln mln year shr cts cts net mln mln revs mln mln note qtr includes loss from carryforward shares restated give effect one stock split the form pct class dividend august reuter 
earn	michigan general corp mgl qtr shr loss dlrs dlr net loss mln mln revs mln mln year shr loss dlrs loss dlrs net loss mln mln revs mln mln note qtr year loss includes mln dlrs mln dlrs respectively from discontinued qtr and year include loss mln mln dlr respectively reuter 
earn	bank revises share payout estimate bank british columbia said revised its estimate shareholder distributions from last november sale most the bank assets hongkong bank canada between cts and dlrs share from cts dlrs share the bank said the estimate could rise between dlrs and dlrs share the full pension surplus obtained said did not know when distributions would made earlier reported that operating profit for first quarter ended january fell dlrs from mln dlrs the previous year for full year ended october the bank posted operating loss mln dlrs against year earlier profit mln dlrs the bank also posted mln dlr extraordinary loss fiscal bank british columbia sold most its assets last november hongkong bank canada unit hongkong and shanghai banking corp hong kong for mln dlrs said efforts wind the bank affairs were proceeding quickly possible the bank said expected report positive earnings future periods barring unforeseen circumstances loan losses which the bank previously said figured its move sell off most its assets rose mln dlrs fiscal from year earlier mln dlrs the bank said mln dlrs the total represented downward adjustments its portfolio syndicated sovereign risk loans required under the sale hongkong bank since november the bank has confined activities the winding affairs bank british columbia said reuter 
earn	kiena gold mines ltd qtr net shr cts cts net revs year shr dlrs cts net revs mln mln reuter 
earn	kiena plans two for one stock split kiena gold mines ltd said planned two for one common stock split pending shareholder approval april said approval would require pct votes cast kiena said pct owner campbell red lake mines ltd crk was expected vote favor the split reuter 
earn	rowe furniture corp rowe sets qtly dividend qtly div four cts four cts prior pay april record march reuter 
trade	house panel takes first trade bill votes house trade lawmakers took their first votes measures designed toughen trade laws but held over until tomorrow the most difficult votes controversial plans protect american industries meeting closed session the house ways and means trade subcommittee failed resolve one the most sensitive issues the bill whether they will force major foreign trading partners severely cut their trade surpluses with the united states the subcommittee considering toned down version democratic sponsored trade legislation that aims open foreign markets but which drops last year effort force president reagan retaliate with quotas tariffs congressional aides who asked not identified said the lawmakers intend wrap their proposals tomorrow and will consider proposal mandate retaliation without setting specific trade penalties the legislation faces another hurdle the full ways and means committee next week before the full house votes rep richard gephardt missouri democrat who seeking his party presidential nomination said may offer amendment call for reductions the trade surpluses those countries with barriers imports goods this would moderated version his earlier plan force mandatory ten per cent annual cut the trade surplus with the united states japan south korea taiwan west germany and other countries with the largest trade imbalances criteria for good amendment sets standard for getting the trade deficit down told reporters the trade law changes are become part major congressional and administration effort turn around the record trade deficit billion dlrs last year opening foreign markets and making products more competitive house speaker james wright texas democrat said again today expects the full house will approve the trade bill may and that reagan will accept the final congressional bill expect whatever reported the ways and means committee will pass will have good bill and effective bill told reporters the comprehensive trade bill will include work other committees ease export controls high technology aid workers displaced foreign competition stimulate research and development remove foreign trade barriers and improve education and worker training the lawmakers agreed that for the first time industry could charge foreign producers with unfair competition they deny basic worker rights such collective bargaining safety rules and payment minimum wage appropriate the country economic development they transferred trade representative clayton yeutter the powers now held reagan decide whether retaliate against foreign violations fair trade rules and whether injured industry deserves import relief they agreed make easier for company get temporary relief from import competition but agreed the industry should provide plan become competitive the administration has not announced its support but yeutter said yesterday cautiously optimistic that the democratic led house will come with acceptable bill reuter 
trade	soviet minister says trade boost french soviet first deputy prime minister vsevolod murakhovsky said the end brief visit here his country wanted boost joint business with france but that reduction france trade deficit with the soviet union depended the french murakhovsky who also chairman the state agro industrial committee gosagroprom told news conference had discussed variety possible deals with french companies rhone poulenc pechiney and imec declining put figures possible contracts said had discussed plant protection and the processing highly sulphuric gas with rhone poulenc packaging technology for agricultural products with pechiney and fruit and vegetable juice processing with imec official for pechiney said agreement intent packaging could signed soon but could not give any other details the other two companies were not immediately available for comment asked whether foresaw reduction this year france trade shortfall billion francs the first months against billion for the whole murakhovsky told reuters all depends france meeting paris last january french and soviet foreign trade ministers said they were committed increased efforts reduce the deficit estimates the time showed french mln franc surplus for december murakhovsky said the soviet union was prepared talk with anybody with interesting proposals offering latest technology and assuring mutual advantage said the soviet union had many tasks ahead and would deal rapidly with proposals considered interesting encouraged companies take advantage new laws guaranteeing the interests foreign partners joint ventures but said agreements had yet been finalised under the new joint venture laws said concrete deals had not yet been finalised result one billion dollar accord signed moscow last month with french businessman jean baptiste doumeng said doumeng interagra company was preparing proposals for further examination the soviet union doumeng last month said the agreement was exchange one billion dollars worth goods murakhovsky said the agreement was one intent and designed primarily renew and increase the soviet union food production capacity reuter 
crude	venezuela lend oil ecuador for export venezuela will supply ecuador with yet undetermined amount crude oil help meet export commitments seriously affected last week earthquake energy and mines minister arturo hernandez grisanti said gave few details about the deal but said crude oil loan agreement will made between state oil companies petroleos venezuela pdvsa and ecuador cepe ecuador was forced suspend oil exports for expected four months after earthquake damaged pipeline oil accounts for per cent its export income hernandez was speaking reporters miraflores palace the results talks with ecuador deputy energy minister fernando santos alvite who arrived here last night the volume lent ecuador would discounted from its opec quota and would not affect venezuela said would from august produce our own quota and sell the additional amounts that ecuador would repaying said did not elaborate the quota arrangements but did say ecuador would notify opec telex that venezuela would lending certain amount over many days venezuela opec output quota currently million barrels day and ecuador has been set bpd reuter 
earn	eagle clothes inc egl qtr jan shr profit cts profit cts net profit mln profit revs mln mln six months shr profit cts loss cts net profit mln loss revs mln mln note six months includes increase provision for doubtful accounts mln dlrs shares give effect issuance mln shares exchange for outstanding series preferred shares reuter 
trade	britain calls japan increase imports britain today called japan increase foreign imports risk the rise protectionism and the harm would bring and other trading nations british trade and industry secretary paul channon said japan must heed report issued japanese government advisory body december calling for faster domestic demand help cut its trade surplus and restructure its economy recognise that the strong yen has brought problems japan domestic economy told group japanese businessmen london but these short term difficulties should not allowed deflect japan from the fundamental reforms necessary said not just domestic issue for japan import propensity does not expand very soon there real risk from protectionist lobbies particularly the with whom japan has massive surplus said they may well succeed securing action governments which would highly injurious trading nations like japan and the channon said there had been substantial growth the volume trade between japan and britain amounting billion sterling billion dlrs last year but added regrettably too much was one direction with the japanese selling billion sterling billion dlrs more than sold them reuter 
acq	taft broadcasting rejects dlr per share buyout offer from theta corp 
acq	taft tfb rejects dlr shr offer taft braodacasting said its board directors unanimously decided not accept the pending proposal theta corp investor group led dudley taft the decision was based among other things the advise its financial advisors goldman sachs and that the offer dlrs per share was inadequate taft said the board concluded that the offer failed recognize fully the future propsects the company and directed management explore alternatives including possible financial restructuring reuter 
money-fx	treasury secretary baker declines comment treasury secretary james baker declined comment the february paris accord between the six major industrial nations under which they agreed foster exchange rate stability asked reporters after speech before the national fitness foundation banquet what any currency intervention levels had been set paris baker replied never talk about intervention baker also declined comment his views about the foreign exchange markets reaction the accord reuter 
crude	ecuador ask opec raise export quota ecuador will ask opec raise its oil export quota barrels per day compensate for lost output due last week earthquake deputy energy minister fernando santos alvite said santos alvite who arrived caracas last night discuss aid plan for ecuador did not say when the organisation petroleum exporting countries opec would approached the additional output would related plans now under discussion for venezuela and mexico lend ecuador crude while repairs pipeline damaged the quake earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply unspecified part ecuador export commitments but santos alvite told reporters hoped first cargo barrels could leave maracaibo this weekend supply refineries near guayaquil added ecuador also wanted make for bpd shipped caribbean destinations mexico might supply ecuador south korean market ecuador may unable export oil for five months due extensive damage mile stretch pipeline linking jungle oilfields the pacific port balao reuter 
crude	china closes second round offshore oil bids china has closed the second round bidding foreign firms for offshore oil exploration rights the china daily has reported quoted spokesman for the china national offshore oil corp cnooc saying china signed eight contracts with foreign firms for blocks the pearl river mouth and south yellow sea covering total area second round bidding began the end and only one well has far produced results lufeng south east shenzhen with output barrels day the well was drilled group japanese companies the spokesman added cnooc was ready enter into contracts for offshore blocks before third round bidding began did not say when this would but added the contracts would not bound restrictions imposed during the second round china has signed oil contracts and agreements with companies from countries since when offshore exploration was open foreigners eleven contracts were terminated after oil was discovered foreign firms have invested billion dlrs offshore china since reuter 
acq	amc imposes hiring freeze due takeover bid american motors corp amo management has ordered hiring freeze view chrysler corp billion dlr takeover bid spokesman for amc said analysts said the merger virtually certain ahead american motors directors met for five hours wednesday review the takeover proposal the board expects meeting periodically over the next several weeks the chrysler proposal amc said its first formal statement since acknowledged the chrysler proposal monday chrysler the number three automaker has said the merger motivated principally its desire acquire amc profitable jeep business and dealers well new modern car assembly plant bramalea ontario that means guaranteed future for much amc but leaves question the fate many its plus employees according industry analysts amc toledo ohio jeep plant has hourly workers indefinite layoff while its kenosha wisconsin car plant has another layoff reuter 
trade	taiwan further relaxes foreign goods import curbs taiwan said would soon relax import controls some foreign items including stationery and books further effort allow trading partners especially the greater access its markets taiwan announced the easing import curbs some farm and industrial products last month council for economic planning and development spokesman told reuters said the new move was intended balance trade between taiwan and its trading partners the island trade surplus reached record billion dlrs last year from billion january taiwan cut import tariffs some foreign products and allowed imports wine beer and cigarettes hope the measures will help reduce our trade surplus this year especially with that the the spokesman said washington pressing taiwan open its markets wider way cutting its trade deficit with the island which rose billion dlrs the first two months from billion the year earlier period reuter 
ship	bangladesh port workers end strike cargo handling resumed bangladesh chittagong port today after workers ended their three day walk out triggered pay dispute port officials said loading and unloading ships stranded the strike started this morning and will completed quickly possible they said the strikers returned work after 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 england does not favour the introduction rules shield companies from hostile takeover attempts its governor robin leigh pemberton said instead merchant banks advising bidding companies must show restraint and responsibility avoid the excesses that have marred recent takeovers told the yorkshire and humberside regional confederation british industries annual dinner leigh pemberton also called companies improve ties with institutional investors suggesting representatives those institutions granted seats the boards directors companies they invest boards cannot expect protection from unwelcome predators for that but short step from saying that they should protected from their own shareholders who are after all the proprietors the company leigh pemberton said added takeovers and mergers had important role play furthering economies scale integration and more efficient market penetration the degree success failure takeover has not experience depended whether not the takeover was contested said leigh pemberton noted there had been excesses takeover activity the recent past the aim pressurise company management into action dedicated solely favourable impact the share price the short term partly even primarily the expense the future said such bids often depend for their success creating highly charged and artificial situation the share market and give rise temptations both sides the battle engage aggressive even manipulative tactics that are immensely damaging the interest the shareholders said clear reference recent events said those the city who act for companies individuals must suggest ready accept full measure responsibility even entails opprobrium for the transactions that may result they should exercise the most careful judgment the outset with respect the clients for whom they act and the activities contenplated those who sow wind cannot expect the whirlwind visit elsewhere added reuter 
acq	japanese purchase high tech firm opposed commerce secretary malcolm baldrige has asked the white house consider blocking the planned japanese acquisition major computer and semiconductor maker officials said yesterday the officials told reporters baldrige had serious concerns national security grounds about the sale schlumberger ltd slb unit fairchild semiconductor inc fujitsu ltd itsu the officials said the sale could leave the united states overly dependent foreign company for equipment used advanced missiles aircraft electronics and intelligence gathering the 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 the coming weeks they said defence secretary caspar weinberger position was not known but the past has opposed the transfer high technology foreign governments companies computers made manufacturers are widely used the world but tokyo told negotiators recently prefers local manufacturers and would not buy 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 management terms the seamen said they were spurred their decision after marines occupied the ship docemarte santos harbour tuesday night they said seamen the vessel were being forced work under duress president jose sarney government despatched troops brazil ports and oil installations tuesday seamen santos brazil main port are defiant mood one their leaders orlando dos santos told reuters that most the seamen the port offered their resignations wednesday the national strike headquarters rio janeiro said seamen were offering resign all the country main ports the strike seamen comes brazil faces serious debt crisis brought sharp deterioration its trade balance the country needs all the foreign exchange can get and shipowners have been quick denounce seamen for the harm the strike doing exports advertisement placed the newspapers the shipowners association read the seamen strike illegal irrational and unpatriotic the seamen respond that they cannot live their present salaries according officical pay lists available the union office the basic pay for ordinary seamen cruzados month while various allowances can bring their total pay cruzados month the other end the scale captains earn cruzados month basic pay which brought cruzados with allowances brazil seamen are the second worst paid the world after ghana dos santos said said the seamen had not received pay increase since february and prices have doubled since then with the collapse the government cruzado plan price freeze talks rio janeiro wednesday involving labour minister almir pazzionotto seamen and employers failed resolve the dispute the seamen are demanding pay raises about pct but have been offered less than half that reuter 
acq	renouf sells pct nzi stake brierley renouf corp ltd said sold its pct stake nzi corp ltd brierley investments ltd bil for mln dlrs renouf managing director mike cashin said statement had been renouf intention build long term strategic position nzi but became clear that was the best interests both nzi and ourselves for brierley investments acquire our holding said said renouf built its nzi holding over the past six months the sale comprised mln shares dlrs share and warrants dlrs each the warrants are attached mln swiss franc note issue each bond francs carries detachable warrant entitling the bearer nzi shares its annual report bil reported that held pct stake nzi nzi has mln ordinary shares issue total capital including shares attached warrants mln shares cashin said the sale will result significant profit and places renouf good position consolidate recent transactions and pursue other opportunities nzi shares were dlrs bil and renouf the close trading bil executives were unavailable for comment reuter 
earn	boliden blds results group loss after financial income and expenses billion loss mln crowns sales billion crowns billion proposed dividend crowns note the company this year consolidated wholesale and investment conglomerate ahlsell reuter 
earn	saudi banks face further lean period saudi arabia commercial banks are reporting further decline profits for increasing provisions have set aside cover the burden non performing loans bankers the saudi capital said the need build reserves for bad and doubtful debts may start decline little this year but the kingdom still sluggish economy and legal problems hampering traditional lending operations mean earnings will remain vulnerable one senior bank credit officer said the work largely done terms identifying bad loans and making provisions but banks are still going face difficulties earning money the sudden decline saudi arabia corporate sector culminating number debt reschedulings has taken heavy toll bank profits with first results now appearing for showing fourth successive year broad decline the cumulative net earnings the kingdom banks had sunk mln riyals from billion before world oil prices tumbled the kingdom nine joint venture banks which operate the gregorian calendar year four have already reported and revealed further profits decline net loss for the expense increased provisions the newest and smallest the joint ventures united saudi commercial bank uscb reported net loss mln riyals marginally less than shortfall mln profits before provisions were sharply higher part reflecting pct staff cut last year but the bank nearly trebled the amount set aside against bad and doubtful loans mln riyals from mln other results released far show saudi american bank samba reporting pct fall net profit mln riyals while bank saudi fransi known saudi french slid pct mln riyals both saudi american owned pct citicorp cci citibank and saudi french pct owned banque indosuez increased provisions sharply arab national bank net profit fell pct mln riyals and provisions were more than doubled mln riyals bankers said there are first signs that the number non performing loans has stopped growing the decline the saudi economy bottoms out few are willing predict sharp upturn economic activity but one banker said the top pct the saudi banks are now close international levels provisions from the kingdom largest bank national commercial bank ncb stashed away billion riyals provisions pct its total loans and advances the private sector bankers calculated between and riyad bank ncb rival the second biggest the two all saudi shareholding banks had covered pct its loans and advances both banks operate islamic year that does not coincide with the other nine although the saudi arabian monetary agency sama has been tightening supervision there still standardised rule for declaring loans non performing bankers say this makes comparison profit figures difficult because some banks still book non accruing interest revenue while others follow more conservative practices force major world financial centres bankers generally said ncb riyad bank and the joint ventures samba saudi french and arab national bank rank the strongest earners other banks such saudi british bank pct owned the british bank the middle east are disadvantaged relatively low deposit base saudi british slashed profit pct just mln riyals and accounts due soon are expected show another low figure but the bank has traditionally been one the most conservative making provisions bankers said sama has proved not prepared see saudi bank under and not only supported saudi cairo bank after its troubled accounts came light but also made available cheap deposits saudi investment bank and uscb the banks can lend these generate profit but generally banks are awash with liquidity since they are unwilling risk incurring fresh non performing loans and while banks more liberal financial markets can attempt diversify away from traditional lending conservatism saudi banking has made difficult generate fee income from new investment banking products one banker said operating earnings the kingdom are not good reflecting the caution new lending the amount advances showing declining trend while the days when banks had ample funds interest free current accounts invest are disappearing saudi customers seek better return their money the ratio interest bearing accounts current accounts was pct today only about pct customer funds are held current account reuter 
acq	guinness challenges mln stg payment lawyer guinness plc guin the brewing group has challenged mln stg payment lawyer who says organised its controversial takeover scotch whisky maker the distillers plc but attorneys for lawyer thomas ward member the guinness board told court yesterday the channel island jersey that ward saw the payment his reward for services last year billion stg takeover britain department trade and industry investigating the takeover guinness says its former chairman ernest saunders and ward breached their fiduciary duty authorising the payment ward via jersey based company marketing and acquisitions consultants and has gone the jersey court recover mac said defence documents that ward was the main negotiator the battle for distillers against rival bidder argyll ayll group plc the bid would not have been successful but for the services ward mac attorneys said the documents submitted court the payment was all the circumstances reasonable proper and fully earned reuter 
earn	japanese corporate earnings recovery predicted japanese corporate earnings will rise pct fiscal for the first year year increase three years partly because the yen stable exchange rate the nomura research institute said sales all industries are predicted rise pct the year which starts april the research arm nomura securities said statement recurrent profits were estimated fall pct the current fiscal year with sales forecast drop pct the forecast assumes average rate yen the dollar compared with yen the current year corporate efforts cope with the yen appreciation such cutting production costs are expected bear fruit next fiscal year the institute said the economy should also benefit from pump priming expected from the government and halt rising prices manufactured goods said recurrent profits manufacturing industries are projected rise pct next fiscal year against estimated pct fall the current year non manufacturing sector profits will decline pct against estimated pct rise the current year said reuter 
earn	boliden says results burdened loss writeoff swedish mining and metals group boliden blds forecast return profitability during after recording billion crown loss burdened massive write off the company which consolidated the swedish wholesale and investment conglomerate ahlsell this year said the result included restructuring costs and write offs mln crowns these costs have arisen results change direction for the group they are mainly one off but they have burdened the annual accounts the company said statement boliden said the company liquid assets were billion crowns year end which together with investment portfolio billion made one the most liquid swedish companies result the losses the board proposed cancelling dividend for the year although predicted return profitability during the statement added swedish tyres process equipment and components firm trelleborg has taken majority stake boliden since the beginning this year trelleborg then said had plans for consolidating boliden reuter 
earn	rowntree reports pretax profit mln stg rowntree mackintosh plc rwnt announced made pretax profit mln stg the weeks ending january compared with mln stg the previous year turnover was billion stg from billion final dividend was proposed after final last year earnings per share rose from the results were broadly line with market expectations leaving shares early trading one pence from yesterday close but slightly off pre announcement opening levels profit ordinary activities after tax was mln stg from the previous year mln the remained rowntree largest centre for trading profits accounting for mln stg from mln profit from its second largest geographical area north america slipped mln stg from mln north american profits were affected the fall the value the dollar operations continental europe made mln stg trading profit from mln with mln stg made australasia from mln and mln stg from the rest the world against mln the previous year extraordinary items amounted mln debit after mln debit previously company spokesman said this represented additional provisions for the cost rationalisation plans announced earlier years rowntree expects north american operations will this year ahead company expectations the same order those from the and the rest europe combined the statement said spokesman said specific figures had been forecast acquisitions will continue sought worldwide including further moves the speciality retailing business which rowntree first entered the statement said rising profit from europe this year was forecast chairman kenneth dixon statement added the performance seven businesses bought last year was encouraging the confectionery side gained market share and increased trading margins the sun pat british grocery concern increased profit and rowntree 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 confectionery operations and the company faced strong competition the snack and mid east export markets reuter 
trade	china trade deficit falls january china trade deficit january fell mln dlrs from mln january the china daily business weekly said quoting customs figures the paper said exports fell billion dlrs from billion and imports fell billion from billion reuter 
earn	jacobs suchard jacz year net mln swiss francs mln turnover billion billion dividend per bearer francs francs per registered francs francs per participation certificate francs cash flow mln mln note confirms forecast results issued january operating profit mln mln depreciation mln pct capital spending mln down pct reuter 
earn	british telecom third quarter pre tax profit mln stg mln 
money-fx	bank england offers early help money market the bank england said had invited the discount houses make early round bill offers help offset large liquidity shortage the money market estimated the shortage around billion stg one adverse factor being the unwinding sale and repurchase agreement with the market having buy back bills worth mln stg from the bank bills maturing official hands and the treasury bill take would drain mln stg wile exchequer transactions and note circulation rise would take out mln and mln respectively above target bankers balances would add mln reuter 
earn	british telecom qtr ended dec shr making for nine months pre tax profit mln stg mln making billion stg billion net profit before minorities mln mln making mln mln note company full name british telecommunications plc bty third quarter turnover billion stg billion making billion billion for nine months operating profit mln mln making billion billion net interest payable mln mln making mln mln tax mln mln making mln mln minorities nil nil making two mln nil reuter 
earn	rowntree mackintosh plc rwnt year end january shr div final div pretax profit mln stg mln net after tax mln mln turnover mln mln trading profit mln stg mln consisting mln europe mln mln north america mln mln australasia mln mln rest world mln mln reuter 
earn	glynwed international plc glyn year shr net basis div making pretax profit mln stg mln net after tax mln mln extraordinary items debit mln debit mln interest payable mln mln net borrowings mln mln turnover mln mln reuter 
earn	glynwed sees further progress glynwed international plc glyn statement accompanying their results that present indications are that has started well and confident that the year will one further progress the company added that results the were poor and the deterioration the south african economy left its falkirk industries unit with loss one mln stg but said there was continuing improvement its core businesses the extraordinary items debit mln stg arose the closure and disposal various businesses reuter 
earn	british telecom sees satisfactory results british telecommunications plc bty expects announce satisfactory results for its financial year ending march chairman sir george jefferson said third quarter statement full year results will published june the financial year pre tax profit rose billion stg from billion the previous period jefferson said good progress was made the latest nine months while most customers were able maintain their normal level calls during the recent strike company engineers the statement said positive cash flow mln stg for the first nine months will diminish the final quarter due corporation tax and dividend payments earlier the company reported third quarter pre tax profit for the period ended december mln stg compared with mln year earlier nine month pre tax was billion stg against billion british telecom shares were last quoted level with late yesterday the wake results which were line with market expectations dealers said reuter 
earn	next plc nexl five months end january shr div pretax profit mln stg mln net interest payable mln stg net after tax mln turnover excluding vat mln mln note the company said intends issue second interim statement for the six months july and pay related dividend early reuter 
earn	ste lyonnaise des eaux lyoe year ended dec consolidated attributable net profit mln francs mln parent company net profit mln mln reuter 
earn	lyonnaise des eaux forecasts profit rise consolidated attributable net profit ste lyonnaise des eaux lyoe likely rise least pct this year from the mln francs reported for chairman jerome monod told 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 the past three years added investments will aimed mainly developing the group leisure industry health and communications activities monod said the leisure sector the group planned joint development with club mediterranee cmi club med hectare pleasure park puisaye the yonne department eastern central france said wholly owned subsidiary lyonnaise developpement touristique would carry out the construction work and financial planning the development which would leased club med operator the complex said gave financial details but said leisure sector investments would total about mln francs over the next three years investments the communications industry would mainly develop the group cable television activities and its pct owned metropole television affiliate metropole recently won the concession operate sixth television channel france financing requirement metropole would about mln francs over the next four years which lyonaise des eaux would provide about mln monod said monod said metropole aimed win pct audience share and capture about pct the national television advertising market total investment the group the communications sector including cable activities would between mln and mln francs over the next five years mainly concentrated the coming year investment cable operations would total between mln and mln over the five years with the aim widening the audience subscribers from and boosting turnover around mln francs year from mln reuter 
acq	gus makes mln stg agreed offer for pantherella great universal stores plc gus said has made agreed offer for pantherella plc valuing the company mln stg and each pantherella ordinary share pence the offer based eight new non voting ordinary shares gus plus stg for every ordinary pantherella the new gus shares will not receive the eight pence per share interim dividend respect the year ending march the statement said gus has received irrevocable undertakings accept the offer respect pct pantherella shares from the company directors and their families the pantherella board estimates the company which manufactures socks will show pretax profit about stg reuter 
earn	bond corp international ltd nine mos dec shr loss cents comparison dividend nil comparison net loss mln dlrs notes net excluded extraordinary losses mln dlrs property valuation reserve surplus mln dlrs results reflected trading subsidiary humphreys estate group but excluded influence bulk properties which the firm bought late last year from hongkong land ltd hkld for billion dlrs company controlled bond corp holdings ltd australia reuter 
trade	canada january trade surplus mln dlrs after december mln dlrs surplus 
trade	canada january trade surplus mln dlrs canada had trade surplus mln dlrs january compared with upward revised mln dlrs surplus december statistics canada said the december surplus originally was reported mln dlrs the january surplus last year was billion dlrs january exports seasonally adjusted were billion dlrs against billion december and billion january january imports were billion dlrs against billion december and billion january reuter 
earn	kidston says higher net reflects gold sale rise kidston gold mines ltd attributed the rise net profit higher prices and increase gold sales ounces from ounces the placer development ltd offshoot which operates australia largest gold mine north queensland earlier reported net profit rose mln dlrs from mln the period months from the start production sales silver also rose ounces from kidston said statement will spend about mln dlrs upgrade its mill grinding circuit mill ball mill crushing circuit boost output pct from end reuter 
earn	kidston gold mines ltd year shr cents div cents net mln dlrs mln turnover mln mln other income mln shrs mln same note company paid total cents previously declared quarterly divs net after tax dlrs interest mln mln and depreciation mln mln reuter 
crude	china closes second round offshore oil bids china has closed the second round bidding foreign firms for offshore oil exploration rights the china daily has reported quoted spokesman for the china national offshore oil corp cnooc saying china signed eight contracts with foreign firms for blocks the pearl river mouth and south yellow sea covering total area second round bidding began the end and only one well has far produced results lufeng south east shenzhen with output barrels day the well was drilled group japanese companies the spokesman added cnooc was ready enter into contracts for offshore blocks before third round bidding began did not say when this would but added the contracts would not bound restrictions imposed during the second round china has signed oil contracts and agreements with companies from countries since when offshore exploration was open foreigners eleven contracts were terminated after oil was discovered foreign firms have invested billion dlrs offshore china since reuter 
acq	leigh pemberton opposes takeover protection rules the bank england does not favour the introduction rules shield companies from hostile takeover attempts its governor robin leigh pemberton said instead merchant banks advising bidding companies must show restraint and responsibility avoid the excesses that have marred recent takeovers told the yorkshire and humberside regional confederation british industries annual dinner leigh pemberton also called companies improve ties with institutional investors suggesting representatives those institutions granted seats the boards directors companies they invest boards cannot expect protection from unwelcome predators for that but short step from saying that they should protected from their own shareholders who are after all the proprietors the company leigh pemberton said added takeovers and mergers had important role play furthering economies scale integration and more efficient market penetration the degree success failure takeover has not experience depended whether not the takeover was contested said leigh pemberton noted there had been excesses takeover activity the recent past the aim pressurise company management into action dedicated solely favourable impact the share price the short term partly even primarily the expense the future said such bids often depend for their success creating highly charged and artificial situation the share market and give rise temptations both sides the battle engage aggressive even manipulative tactics that are immensely damaging the interest the shareholders said clear reference recent events said those the city who act for companies individuals must suggest ready accept full measure responsibility even entails opprobrium for the transactions that may result they should exercise the most careful judgment the outset with respect the clients for whom they act and the activities contenplated those who sow wind cannot expect the whirlwind visit elsewhere added reuter 
crude	ecuador ask opec raise export quota ecuador will ask opec raise its oil export quota barrels per day compensate for lost output due last week earthquake deputy energy minister fernando santos alvite said santos alvite who arrived caracas last night discuss aid plan for ecuador did not say when the organisation petroleum exporting countries opec would approached the additional output would related plans now under discussion for venezuela and mexico lend ecuador crude while repairs pipeline damaged the quake earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply unspecified part ecuador export commitments but santos alvite told reporters hoped first cargo barrels could leave maracaibo this weekend supply refineries near guayaquil added ecuador also wanted make for bpd shipped caribbean destinations mexico might supply ecuador south korean market ecuador may unable export oil for five months due extensive damage mile stretch pipeline linking jungle oilfields the pacific port balao reuter 
earn	jacobs suchard expects another excellent year jacobs suchard jacz hopes for another excellent year after pct increase net profit results the first few months show heading the right direction company president klaus jacobs said the group reported net profit mln swiss francs compared with mln and raised its dividend per bearer share francs from francs jacobs said the increase profit which far exceeded the company target five pct real annual growth had been made possible restructuring measures introduced january which had also made some major acquisitions possible last year hermann pohl general director charge economic affairs said the pct decline group turnover billion francs was due currency factors pct negative currency influence was partially offset growth operations and structural changes within the group turnover the coffee business fell billion francs from billion while turnover the chocolate sector rose billion francs from billion the tonnage sold both sectors declined due higher prices and lower consumer demand especially france and west germany jacobs suchard increased its market share west germany pct from pct largely result acquisitions market share france was little changed pct against pct pohl said the group average tax rate rose pct from pct because the higher profits and despite write offs the losses new acquisitions further increase tax levels was expected future taxes jumped pct mln francs from mln the previous year reuter 
acq	taft tfb rejects dlr shr offer taft broadacasting said its board directors unanimously decided not accept the pending buyout proposal theta corp investor group led dudley taft the decision was based among other things the advice its financial advisors goldman sachs and that the offer dlrs per share was inadequate taft said the board concluded that the offer failed recognize fully the future propsects the company and directed management explore alternatives including possible financial restructuring reuter 
money-fx	treasury secretary baker declines comment treasury secretary james baker declined comment the february paris accord between the six major industrial nations under which they agreed foster exchange rate stability asked reporters after speech before the national fitness foundation banquet what any currency intervention levels had been set paris baker replied never talk about intervention baker also declined comment his views about the foreign exchange markets reaction the accord reuter 
earn	bel fuse inc belf qtr net shr cts cts net sales year shr cts cts net sales mln mln reuter 
earn	southwest realty swl year loss shr loss cts profit dlrs net loss profit note cash flow dlrs cts shr dlrs cts shr reuter 
earn	southwest realty swl has liquidity problems southwest realty ltd said believes could make all its scheduled montly debt service payments for despite the falloff its rental operations but making the payments would probably severely impair its liquidity and restrict its ability maintain the quality its properties the company today reported loss dlrs compared with profit dlrs southwest said addition its monthly scheduyled debt service payments dlr loan one its houston properties due mature april one southwest said commitment reduce the interest rate and extend the houston loan for one year has been accepted said talks are underway with lenders other houston properties obtain partial debt service moratoriums which granted would cut cash deficits from levels the loan renegotiations could involve bankruptcy other litigation connected with the specific properties involved and could involve the suspension interest and principal payments some the lenders southwest said the attempts restructure debt not succeed could lose one more the properties southwest said the houston properties made about pct its current value equity december dlrs per share down from dlrs year before the company said depending the success the talks and operating results for one two more properties could become subject similar negotiations the two additional properties comprised about pct its current value equity year end southwest said reuter 
earn	holmes ltd hlme sets payout qtly div cts cts prior pay april one record march reuter 
acq	pope evans per repurchases shares pope evans and robbins inc said has repurchased common shares from putnam mills corp principals sidney and peter kaplan for dlrs per share said the purchase price will applied against the dlrs putnam mills currently owes pope evans for merchandise pope evans has about mln shares outstanding the company also said has agreed principle acquire privately held pat fashions industries inc for mln dlrs cash and notes with financing come partly from bank borrowings subject approval the pope evans board and pat shareholders pat fashions imports apparel from the far east and makes apparel domestically well the year ended november pat earned dlrs pretax sales mln dlrs reuter 
acq	baird batm gets temporary restraining order baird corp said the massachusetts state court for suffolk county has granted temporary restraining order prohibiting mark industries inc from further purchases baird stock until mark complies with the massachusetts anti takeover statute the company said mark currently owns least pct baird stock and has indicated that may attempt acquire baird baird said the district court boston has denied mark application for temporary restraining order prevent enforcement the massachusetts takeover law reuter 
acq	dudley taft and narragansett capital pursue taft broadcasting bid 
earn	general mining union corp ltd genm year net shr cts final div cts making pre tax mln rand mln net mln mln tax mln mln attrib outside shareholders mln mln reuter 
acq	dudley taft pursue taft broadcast tfb bid taft broadcasting vice chairman dudley taft and narragansett capital inc narr said they intend pursue their effort acquire taft broadcasting despite the rejection yesterday their dlr per share offer the taft broadcasting board dudley taft and narragansett joint statement said they intend explore alternatives achieve the acquisition including further talks with taft broadcasting they said they are confident that the taft broadcasting board will conclude that the resolution the company current unstable situation quickly possible the best interests all parties they said the taft board did not conclude that their offer was not fair taft shareholders taft broadcasting yesterday however said financial advisor goldman sachs and found the offer inadequate reuter 
earn	harper group harg qtr net shr cts cts net revs mln mln avg shrs year oper shr cts cts oper net revs mln mln avg shrs note year net excludes dlr loss from discontinued operations share adjusted for three for two stock split reuter 
trade	canada leaders fail set pact free trade prime minister brian mulroney said held frank discussions with the canadian province premiers the pace free trade talks with the united states but the longstanding issue provincial ratification remains settled speaking reporters after nearly five hours meetings with the premiers mulroney said further discussions would held june and september discuss the role the provinces approving any new trade deal but maintained progress was being made the sweeping talks with the unites states that got under nearly two years ago appears reasonable progress being made the talks mulroney said alberta premier don getty agreed things are running pretty quickly now the talks launched mulroney progressive conservative government after concerns about protectionist sentiment the are aimed reducing the remaining barriers between the world largest trading partnership but the provinces are expected play major role any new trading arrangement and some the provincial leaders complained lack progress reaching ratification formula view that should thinking about these things right now along with the questions the substance the agreement commented ontario premier david peterson who has been highly critical the talks the past but newfoundland premier brian peckford said agreement was more likely emerge consensus and there would need for hard and fast formula peckford said appears canada prepared make concessions the united states financial services order make inroads other bargaining areas such agriculture canadian published reports quoting government sources say the two countries are close reaching trade deal and will involve eliminating border tariffs and many non tariff barriers over the next years rough draft the accord expected presented the premiers the june meeting while the finished document hoped presented congress october very tight time frame ontario peterson said last night but this moment tough say what will transpire reuter 
earn	healthsouth rehabilitation corp hsrc qtr shr profit eight cts loss cts net profit loss revs year shr profit cts loss cts net profit loss revs mln reuter 
acq	first union func acquisition advances first union corp said shareholders first north port bancorp northport fla have approved merger into first union for dlrs per share about dlrs the company said the acquisition still subject regulatory approvals and expected completed during the second quarter reuter 
earn	sand technology sndcf mulling reverse split sand technology systems inc said considering reverse stock split least one for and expects report second quarter profit compared loss last year the stock consolidation something discussing but not definite sand technology president jerry shattner told reuters interview private placement recently brought the number outstanding shares mln from mln shares july the fiscal yearend the company has always had the aura penny stock shattner said adding that sand plans some time apply for listing the montreal stock exchange shattner said the company expects report profit five pct about dlrs sales seven mln dlrs for the second quarter ended january results for the third quarter should about the same the second added last year sand lost dlrs revenues dlrs the second quarter after disastrous first quarter sand hopes break even the current fiscal year shattner said the company has scaled back its sales forecast about mln dlrs from the mln dlrs projected december the rapid appreciation the japanese yen against and canadian dollars last year led sand loss mln dlrs two cts per share sales mln dlrs the first fiscal quarter this year the company lost dlrs one per share sales dlrs shattner believes the company will post better results this year due several factors last year one our biggest problems was were buying products japanese yen now buy some products from hitachi dollars and the results are starting show the second quarter said sand technology sells under its trademark computer accessories such disk drives solid state memory enhancement devices and printers manufactured hitachi ltd hit japan shattner said sand affiliate detroit systems inc developing software that lets large maniframe computers handle large databases and share them between applications also distributing new product called sapiens which artificial intelligence computer language for use major corporations the company has also reduced costs through some staff cutting and switch profit sharing plans for sales staff instead straight commissions shattner said and sand plans market laser printer the fourth fiscal quarter shattner said reuter 
acq	concorde ventures inc merger agreement concorde ventures inc said has signed letter intent 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 revenues mln dlrs reuter 
acq	borg warner sell industrial products business for about mln dlrs 
acq	qintex extends princeville pvdc offer qintex america ltd said again extending its offer dlrs share for mln princeville development corp shares until today from yesterday reported yesterday qintex said about seven mln princeville shares had been tendered response the offer qintex said extending the offer allow princeville comply with federal law restricting the ownership airlines non citizens and finalize the terms and conditions the letter credit bank guarantee required under the previously announced acquisition agreement reuter 
earn	corrected network video inc nvid qtr feb end shr five cts one net revs avg shrs nine mths shr cts four cts net revs avg shrs note corrects reversed figures march item reuter 
money-fx	bankers oppose strict taiwan currency controls taiwan imposed currency controls today what bankers called desperate move prevent speculation the taiwan dollar appreciated against the currency the strict controls will require proof that large remittances taiwan are connected commercial transactions rather than currency speculation bankers attacked the controls ineffective saying they were panic reaction pressure from washington for faster appreciation the taiwan currency against the dollar which would slow exports the united states remittances exceeding one mln dlrs earned through exports shipping insurance bank lending will now need government approval along with remittances more than dlrs from any other source reuter 
trade	taiwan relax import curbs more goods taiwan will relax import controls more foreign goods government spokesman said today the move was allow greater access taiwan markets overseas trading partners especially the united states official the council for economic planning and development told reuters import curbs about foreign goods including stationery and books would soon relaxed said taiwan announced would ease curbs some farming and industrial products last month the official said the moves were intended balance trade between taiwan and the united states and other trading partners taiwan trade surplus reached record billion dlrs last year from billion reuter 
crude	most japan firms not renewing iran term contracts most japanese companies have decided not renew term contracts lift iranian crude oil because spot prices remain considerably lower than opec official levels industry sources said they said cargo the mideast benchmark crude dubai traded yesterday dlrs barrel compared its official price 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 total about barrels per day bpd iranian crude under term contracts but only one firm has agreed lift the second quarter lifting just bpd they said this move could inspire iran offer discounts cargoes loading april but the likelihood discounts depended largely the levels spot prices the spot price dubai goes above dlrs would probably buy iranian crude the official price one japanese refiner said don intend put pressure them added buyers have little incentive renew contracts lift oil official opec prices while spot prices all grades are considerably lower oil traders said they said spot prices move higher there will problem finding opec crude purchase the official prices qatar has chartered floating storage for its crude oil after finding buyers official prices march the problem likely recur april adding that country surplus the traders added that iraq had dissociated itself from opec december production agreement while agreeing the fixed prices but oil analysts said opec keeps group output close its first half ceiling mln bpd supply and demand would balanced the end the second quarter they also said opec holds its official price structure based reference price dlrs spot price fluctuations should limited dlrs range for dubai and dlrs range for the north sea brent blend one japanese refiner said the moment there lot pressure opec particularly qatar but they hold out there will problem and beginning trust their ability nigerian oil minister and opec president rilwanu lukman told news conference lagos yesterday nigeria and all member countries opec remain determined uphold the december agreement adhering strictly their various quotas and official selling prices said opec believed consumers had drawn heavily stocks both crude oil and refined products reducing them levels well below this time last year said consumers would soon return the market search crude japanese refiner said the european and markets are beginning look better opec might quite lucky 
earn	possis poss votes pct stock dividend possis corp said its board approved pct stock dividend payable may one record march the company annual meeting wednesday possis said shareholders approved proposal increase the authorized common shares mln from eight mln the company currently has about mln shares outstanding reuter 
earn	seal inc sinc qtr jan net shr cts cts net sales reuter 
earn	dow chemical dow regular dividend qtly div cts cts prior pay april record march reuter 
earn	telco telc delays defensive rights offering telco systems inc said its plan distribute dividend common stock purchase rights shareholders record march has been delayed pending the completion necessary regulatory approvals reuter 
acq	clayton and dubilier new joint unit buy firm clayton and dubilier inc and senior management unit borg warner corp bor said will form new company buy borg warner industrial products group for about mln dlrs borg warner industrial products has sales 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 headquartered long beach calif the company said peter valli vice president borg warner corp and president its industrial products division will become president and chief executive officer the new company according clayton clayton private investment firm said this was the third mangement buyout divestiture completed them since december reuter 
earn	health inc ushi qtr jan net shr cts seven cts net revs mln mln half shr cts cts net revs mln mln reuter 
earn	mart corp qtr shr dlrs nine cts 
earn	environmental systems esc qtr jan shr cts cts net revs mln mln note share after preferred dividends reuter 
earn	general mining genm cautions profits general mining union corp ltd chairman derek keys cautioned that profits may not rise this year the rand stays its current level cents would well repeat last year results the rand stays depressed keys said the level the dividend however ought not affected added discussing the outlook general mining earlier reported that per share earnings rose pct cts reuter 
earn	colgate palmolive sets payout qtrly div cts cts pay may record april reuter 
earn	isco inc isko qtr ends jan net shr cts cts net revs six mths shr cts cts net revs mln mln reuter 
acq	borg warner bor sell unit for mln dlrs borg warner corp said agreed sell its industrial products group clayton and dubilier inc and senior management the group for about mln dlrs clayton and dubilier new york based private investment firm which has completed two other management led buyout transactions since december borg warner industrial products group based long beach california has sales 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 part borg warner planned restructuring the proposed sale subject approval borg warner directors said reuter 
acq	guardian morton shulman agrees takeover bid guardian morton shulman precious metals inc said morton shulman and guardman investment management services inc agreed principle for andrew sarlos make takeover bid for all special shares and series warrants guardian morton subject regulatory approval and completion definitive documentation guardman investment current manager and owner all common shares guardian morton also agreed sell the common and its management agreement company controlled sarlos the takeover bid successful guardian morton said price offered for the guardian morton special shares under the takeover bid will pct the net asset value the special shares the time the bid and two dlrs for each series warrant the company said guardian morton said the takeover bid will conditional sarlos acquiring least pct the special shares and pct the series warrants when combined the number special shares and warrants owned the offeror the time the bid investment companies managed sarlos currently own slightly less than pct guardian morton special shares reuter 
earn	mart corp qtr jan net shr dlrs nine cts net revs billion billion avg shrs year shr dlrs dlrs net revs billion billion avg shrs note latest year earnings include loss each period mln dlrs cts share for premium paid the early call mln dlr pct year debenture earnings include gain from discontinued operations mln dlrs cts share loss mln dlrs dlrs share the quarter and gain mln dlrs cts share gain mln dlrs dlrs share for the year reuter 
earn	dorchester hugoton ltd dhulz raises payout qtly div cts eight cts prior pay april record march reuter 
acq	international american home sets acquisition international american homes inc said has contracted acquire diversified shelter group ltd for about dlrs paid pct cash and pct international american common stock valued day trading average prior closing said the price based diversified estimated mln dlrs pro forma pre tax earnings for after adjustment for certain non continuing expenses diversified developer single family housing the atlanta market had revenues about mln dlrs the acquisition subject international american arranging financing reuter 
earn	precision aerotech inc par qtr jan net oper shr cts two cts oper net sales avg shrs nine mths oper shr cts cts oper net sales mln mln avg shrs note current year net both periods excludes dlr gain from retirement notes backlog mln mln start fiscal year reuter 
earn	guardian national insurance ltd garj year shr cts cts final div cts making cts pre tax mln rand mln net mln mln tax mln mln gross premiums mln mln net premiums written mln mln underwriting loss mln loss mln div pay april register march note period year december reuter 
earn	datametrics corp dmcz qtr jan net shr diluted five cts cts net revs avg shrs diluted note net includes tax credits dlrs dlrs reuter 
earn	wiener enterprises inc wpb year jan net shr cts cts qtly div cts cts prior net sales mln mln note dividend pay april record april nine reuter 
earn	mart says record net turning point mart corp said its record fiscal net earnings mln dlrs rise from mln dlrs year ago marked major turning point for the world second biggest retailer mart said the earnings rise for the fourth quarter ended january mln dlrs from mln dlrs resulted from merchandising refurbishing and expense control year ago mart took charge mln dlrs for discontinued operations earnings from continuing retail operations the quarter totalled mln dlrs dlrs share compared with mln dlrs dlrs year ago mart chairman bernard fauber said the success these programs better illustrated the strong pct increase income from continuing operations before income taxes billion dlrs the first time mart corp has reached this milestone sales for the fiscal year reached record billion dlrs pct rise from billion dlrs the prior year mart said was restated account for discontinued operations comparable store sales rose pct over said fauber said the sales growth came from greater consumer acceptance mart apparel merchandise marked increase hardline merchandise sales and growing contribution from specialty retailing operations mart said its fourth quarter pre tax income from continuing operations was mln dlrs pct gain from mln dlrs last year said sales the period grew pct billion dlrs from restated billion dlrs with comparable store sales pct mart said its effective tax rate rose pct from pct but said selling general and administrative expense eased pct sales from pct our performance marks major turning point for mart fauber said statement the years immediately prior focused changing the look our stores and the structure the company mart said committed billion dollars for store remodeling and installing centralized point sale system upgraded its merchandise mix acquired three large specialty retailers divested underperforming businesses and restructured its long term debt were forced pay temporary price the form slower earnings growth and lower rating the investment community however beginning with the fourth quarter our improved performance proof that our approach correct for the long term the mart chairman said reuter 
acq	dainippon ink invest quixote quix quixote corp said dainippon ink and chemicals inc japan will buy shares quixote common stock pct stake for mln dlrs dlrs share said the two companies also agreed share the results their research and development activities optical disc technology dainippon inc optical disc technology focuses the development new direct read after write optical disc and advanced erasable optical disc quixote said its wholly owned subsidiary laservideo inc making advancements the art mastering and manufacturing compact discs roms and laser read videodiscs quixote said the agreement with dainippon which has annual sales more than two billion dlrs provides for dainippon representative sit the laservideo board directors reuter 
earn	circuit city stores inc sets quarterly qtly div cts cts prior pay april record march reuter 
acq	knoll buy american savings aaa shares american savings and loan association florida said knoll international holdings inc has offered purchase new shares american savings for mln dlrs and the board has accepted knoll offer knoll already owns shares pct american savings american savings said the purchase will resolve previously announced disagreement between american savings and the federal home loan bank atlanta the replacement the capital american savings used repurchase common shares january from former chairman marvin warner said completion the transaction would give knoll pct ownership american savings american savings said knoll also had talks with chairman the executive committee shepard broad and chairman morris broad the purchase their american savings shares well dlrs each but agreement was reached american savings said the company said knoll offer buy the new shares not conditioned other purchase common stock from any person entity said its previously announced engagement salomon inc evaluate alternatives enhance shareholder values including the possible sale american savings still being actively pursued reuter 
acq	merrill lynch mer canada mulls buying broker merrill lynch canada inc wholly owned merrill lynch and considering acquiring another canadian securities company the result federal and provincial government moves lift investment dealer ownership restrictions june according published report talking number people merrill lynch canada deputy chairman duff scott told the toronto star whether going something don know said merrill lynch canada spokesman declined comment 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 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 final decision but was examining three four alternatives discussions between brokers about possible mergers expected pending industry deregulation one investment industry source who asked not named told reuters silly not take look making merger acquisition you businessman you have take look the industry source said under federal and provincial government regulations expected place june banks trust companies and foreign companies will allowed acquire existing investment dealers establish their own securities subsidiaries reuter 
acq	most american aggregates amag stock acquired consolidated gold fields plc arc america corp subsidiary said has acquired american aggregates corp shares about pct those outstanding result its tender offer which expired february soon practicable arc america will acquire american aggregates converting the company remaining shares into the right receive dlrs share reuter 
acq	biotech capital bitc buy magazine biotech capital corp said agreed buy high technology magazine from the goldhirsh group boston terms were not disclosed the magazine publishes information about emerging technologies and their impact business has circulation and the largest its kind the world the company said reuter 
trade	pakistan trade deficit narrows february pakistan trade deficit narrowed billion rupees provisional february from billion final january and compared with billion february the federal bureau statistics figures show exports fell billion rupees provisional february from billion final january and compared with billion february imports fell billion rupees provisional february from billion final january and compared with billion february reuter 
earn	corrected insituform north america inc insua qtr shr nine cts four cts net revs avg shrs year oper shr cts cts oper net revs mln avg shrs note year net excludes dlr tax credit corrects march item exclude tax credit reuter 
earn	colgate palmolive sets quarterly qtly div cts cts prior pay may record april reuter 
earn	operative bancorp cobk raises quarterly qtly div cts cts prior pay april record march reuter 
earn	wilcox and gibbs inc sets payout semi div cts cts prior pay april record march reuter 
crude	saudi output said year low help opec saudi arabian oil output has fallen its lowest level more than year giving fresh evidence the kingdom determination keep oil prices dlrs barrel agreed opec last december oil industry sources said they said saudi output the first eight days march averaged mln barrels per day bpd including oil from the neutral zone shared with kuwait compared february average mln bpd they said saudi arabia was also selling oil from its crude oil stocks tankers around the world which opec says must counted towards member production quota saudi arabia quota mln bpd the lower production levels indicated saudi arabia the world largest oil exporter was insisting getting opec official prices even the cost lower production the sources said king fahd reiterated yesterday interview with reuters and the television news agency visnews the saudi commitment opec december pact boost oil prices average dlrs saudi arabia completely sticking opec decisions said the sources said the kingdom exports from gulf ports averaged one mln bpd during the eight days ending last sunday down from february average mln bpd they said saudi arabia was allowing production fluctuate with lifting nominations and was not trying maintain artificially high levels putting oil into storage the kingdom main buyers the four oil firms with past stakes the national oil company aramco mobil exxon texaco and chevron enjoy considerable flexibility the timing and volume their liftings but are bound pay official prices the sources said spot market prices have firmed the past two weeks but still remain below opec levels and major buyers have delayed liftings the hope they would improve the sources said they expected low early march output pick towards the end the month buyers sought fulfill their contractual obligations reuter 
acq	leader ldco buys petrosurance stake leader development corp said has purchased shares convertible preferred stock petrosurance inc for dlrs cash and real estate petrosurance specializes property and casualty insurance for the oil industry leader said the stock convertible into petrosurance common leader said already owns pct petrorusrance and conversion would give about pct the company said petrosurance will use the sale proceeds support growth and improve the structure its reinsurance treaties retain larger part premiums written reuter 
earn	federal realty investment trust frt payout qtly div cts cts prior pay april record march reuter 
earn	beauticontrol cosmetics inc buti qtr net qtr ends feb shr cts cts net revs reuter 
earn	old dominion systems inc odsi qtr jan shr loss cts profit five cts net loss profit revs reuter 
trade	sweden sets october deadline for africa boycott sweden announced its promised program unilateral economic sanctions against south africa and gave firms october deadline cut trading links foreign trade minister anita gradin said trade boycott south africa and neighbouring namibia would take effect from july followed three month period grace give companies time wind down their operations from october direct trade would allowed either direction with certain exceptions covering medical supplies and printed matter gradin told news conference she said exceptions would also granted cases where swedish trade boycott would benefit south african firms and disadvantage south africa black ruled neighbours the front line states gradin cautioned that legislation upon which the boycott would based was not impossible get round she said parliamentary committee would investigate ways closing some the bigger loopholes including indirect trade with south africa via swedish subsidiaries third countries reuter 
earn	fidelity national financial inc fnf qtr jan end shr profit cts loss not given net profit loss revs mln mln avg shrs reuter 
earn	british telecom cautious earnings prospects british telecommunications plc bty profit growth prospects for the coming years will reduced increasing competition and continued costs for replacing old telephone systems deputy chairman graeme odgers said speaking news conference the third quarter results which were released earlier today odgers said the company faced heavy costs for installing new digital telephone systems britain for three five years said mercury communications ltd cable and wireless plc cawl subsidiary was becoming significant competitor odgers said mercury was seeking make inroads into some british telecom most profitable areas one company official privately estimated that british telecom still had pct share the telecommunications market but feared that this could slip pct the recent two and half week engineering strike which lead some disruption service could well have encouraged clients consider using the mercury system odgers said however forecast that the last quarter results overall should not adversely affected the walkout calculated salary savings result the strike mln stg and while loss income telephone calls should limited revenue probably dropped peripheral activities but balance odgers said that group financial strength economies scale and the fact that operates growth industry will help produce annual profit increases for the forseeable future british telecom will also seek expand into manufacturing said adding that research and development expenditure will rise both terms value and compared with the current proportion two pct overall turnover analysts said the company downbeat forecasts helped shares dip mid afternoon down from yesterday close and off early high philip augar stockbrokers wood mackenzie and ltd said the market expects slower profit growth but forecast seven eight pct rise both earnings per share and pretax profit over the next two years the financial year pre tax profit rose billion stg from billion augar noted that government imposed formula linking charges inflation meant that the company scope for raising prices was limited long inflation remains low reuter 
earn	tenney engineering inc tny qtr net shr two cts nine cts net revs mths shr cts cts net revs mln mln reuter 
earn	modern controls inc mocon qtr net shr cts cts net sales mln mln year shr cts cts net sales mln mln reuter 
acq	instinet inet sets meeting merger instinet corp said its board has scheduled special shareholders meeting for may vote its proposed merger into reuters holdings plc rtrsy said shareholders record april will eligible vote the meeting instinet said the meeting date subject adjustment based the length time needed for the securities and exchange commission complete its review the filing merger proxy materials which instinet expects make before the end march instinet said the filing the preliminary merger proxy materials tied the finalization audited financial statements instinet and reuters for under merger agreement entered into november reuters tendered for mln instinet common shares about pct those not already owned reuters result the tender reuters now owns about pct instinet shares the merger holders remaining instinet shares will receive dlrs reuters american depositary shares for each instinet share the ads will valued the average their closing prices the trading days before the effective date the merger instinet said expects the merger become effective soon possible after shareholder approval the special meeting reuter 
earn	dayton hudson corp qtr oper shr dlrs dlrs 
acq	union pacific says will sign pact caracas march for sale half its corpus christi refinery 
acq	cyacq offers raise cyclops buyout dlrs shr from dlrs 
acq	waste management says waiting period ends its chemlawn bid 
earn	petrie stores corp pst regular payout qtrly div cts cts prior pay april record april reuter 
earn	unilever fragrance unit has lower earnings the flavours and fragrances firm naarden international acquired anglo dutch food and detergents group unilever plc last year said net profits for fell pct mln guilders naarden said earnings were hit the fall the value both the dollar and sterling noting the figure was line with prior expectations net profit was mln guilders earnings per share fell guilders from turnover mln down from mln naarden set cash dividend guilders unchanged from last year but without last year share option for payment reuter 
earn	eagle pitcher industries inc epi qtr net shr cts cts net revs mln mln avg shrs mln mln reuter 
earn	rpt insituform north america inc insua net qtr shr nine cts four cts net revs avg shrs year oper shr cts cts oper net revs mln avg shrs note year net excludes dlr tax credit reuter 
money-fx	fed says sets two billion dlrs customer repurchase agreements 
acq	waiting period ends waste management wmx bid waste management inc said received notice early termination 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 dlrs share bid has said was talking with other parties about selling its business reuter 
earn	asa ltd asa qtr feb net shr dlrs dlrs net mln mln note net asset value per share dlrs dlrs reuter 
acq	investors raise cyclops cyl tender price cyacq corp investor group bidding for cyclops corp said would raise its outstanding tender offer price for cyclops common dlrs share from dlrs certain conditions were met the increased offer would exceed the dlrs share price offered dixons group plc tender offer for cyclops that part definitive agreement acquire the pittsburgh based maker 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 raised cyclops must provide cyacq with all non public information provided dixons group and cyacq must satisfied with financial projections made offering material dixons based the information cyacq said additionally dixon group rights buy cyclops common and its rights fees expenses the dixon cyclop merger agreement broken must rescinded cyacq said cyacq said financial projections developed for cyclops were materially lower than the financial projections provided cyclops dixons group cyclops spokeswoman said the company had details the new cyacq proposal and could not comment have nothing hand she said addition making specialty metal products cyclops also operates about specialty stores that sell consumer electronics products the stores are located states concentrated the northeast northwest and southwest cyclops employs about people pennsylvania ohio and other states also has interests non residential construction cyclops earned mln dlrs dlrs share sales billion dlrs compared earnings mln dlrs dlrs sales billion the spokeswoman said the agreement with dixons group calls for cyclops steel and construction businesses sold unit alleghany corp for about mln dlrs once the merger completed cyacq spokesman said the new conditional tender price would all cash had comment whether cyacq plans withdraw its current offer which scheduled expire midnight march six dixon group offer extends march reuter 
earn	dayton hudson corp qtr jan oper net oper shr dlrs dlrs oper net revs billion billion year oper shr dlrs dlrs oper net revs billion billion note period ended february one note results exclude earnings from discontinued operations mln dlrs nine cts share mln dlrs three cts share the quarter and mln dlrs two cts share mln dlrs three cts share for the year earnings exclude gain sale dalton bookseller mln dlrs cts share each period earnings exclude extraordinary charge from purchase and redemption debt mln dlrs cts share the quarter and mln dlrs cts share for the year reuter 
earn	vse corp vsec qtr net shr cts cts net revs mln mln year shr dlr dlr net revs mln mln note qtr and year net includes income loss metcap subsidiary dlrs and dlrs cts per share respectively qtr and year net includes loss metcap unit dlrs and dlrs cts per share respectively reuter 
acq	security pacific spc buys orbanco orbn security pacific corp said completed its previously announced acquisition orbanco financial services corp after receiving federal approval the deal security pacific said the federal reserve board approved wednesday its purchase the portland ore based bank holding company and financial services concern the purchase orbanco for about mln dlrs cash and common stock will effective days security pacific spokeswoman said terms call for each share orbanco common stock exchanged for about dlrs security pacific common stock plus dlrs cash each share orbanco dlr par value preferred stock will exchanged for dlrs cash plus accrued dividends orbanco with one billion dlrs assests the holding company for the oregon bank orbanco real estate service american data service inc and orbanco securities corp security pacific now has four major regional bank purchases outside california completed pending security pacific bought the arizona bank with assets four billion dlrs the fourth quarter pending approval currently the purchase rainier bancorporation rban with assets billion dlrs anticipation legislative changes that take effect security pacific has also negotiated the future purchase the nevada bank with assets mln dlrs security pacific the sixth largest bank holding company with assets about billion dlrs reuter 
earn	dranetz technologies inc dran year dec net shr cts cts qtly div six cts six cts prior net revs mln mln note net includes one time charge dlrs five cts share from discontinuation boat sentry and lakontek products qtly div payable april shareholders record march reuter 
earn	lands end inc leys year jan net shr dlrs dlrs net sales mln mln avg shrs note earnings are pro forma including the increase common shares that took place last october when the company went public through initial offering mln shares avg shrs assume the shares sold 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 enjoin zico dlr share tender offer for bancroft shares its complaint bancroft said the tender offer materials and letters shareholders are false and misleading and that the tender offer violates the investment company act zico said the suit totally without merit and vigorously intends contest motion scheduled heard march reuter 
earn	seaboard corp seb week year net shr dlrs net mln revs mln note company changed its reporting period dec from may 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 explosion its boiler yesterday lloyds shipping intelligence service reported the vessel has retained some power and yesterday evening was position lat long diverting jacksonville florida with its cargo tons coal the vessel was bound for iskenderun turkey from lake charles reuter 
earn	reuter inc reut qtr shr cts six cts net mln revs mln mln year shr cts cts net mln revs mln mln note net includes mln dlrs tax loss carryback reuter inc spindle maker not connected with reuters holdings plc reuter 
earn	centel corp cnt regular payout set qtly div cts cts previously pay april record april seven reuter 
crude	mobil mob restructure exploration unit mobil oil corp said will restructure its dallas based mobil exploration and producing services inc operations april one provide stronger technological support its and overseas operations mobil said the operation will consist two new units technical services and application technology along with the existing drilling and new exploration ventures groups said mills president and general manager its exploration and producing southeast inc has been named vice president and general manager the new operation reporting hoenmans president its exploration and producing division reuter 
earn	equity oil eqty qtr loss shr loss nine cts profit cts net loss profit revs year shr loss six cts profit cts net loss profit revs mln mln note per share figures reflect five pct stock dividend paid december reuter 
earn	results hit strikes dollar fabrique nationale herstal fnhb said suffered net loss billion francs last year after being hit strikes the falling dollar and declining oil prices statement said the loss which compared with mln franc profit the previous year included considerable charges for restructuring and without these the net loss would have been billion francs said added that the restructuring plan would allow the firm return long term profitability once had been approved local authorities banks and the workforce reuter 
acq	millipore mili acquires equity protein protein databases inc said millipore corp through its venture capital subsidiary millicorp acquired equity position the company protein said and millipore intend establish interactive relationship other details were disclosed about the amount millipore investment protein reuter 
crude	wildlife unit proposes alaska refuge oil study the national wildlife federation rejected interior department draft plan open wilderness lands northern alaska oil and gas exploration the federation the nation largest conservation group said further study was needed assess any possible damage that development might have the wildlife the area the coastal plain the arctic national wildlife refuge jay hair the federation executive vice president called the interior research into the effects development fundamentally flawed that provides little basis which make public policy decision hair called the department proposal reflection largely political decision adding have confidence interior represent the broad public interest this area interior wants open the million acre coastal plain oil and gas exploration but said only with tough safeguards protect the area caribou and musk oxen said preliminary survey showed the region could hold billions barrels oil and gas and that its potential energy resource would never known without exploration interior said oil the coastal plain could match the billion barrels found prudhoe bay just west the plain under existing law congress must agree oil and gas exploration and does not act the land will remain wildlife refuge protected from commercial development hair said interior report failed stress the probability that finding recoverable oil only pct said interior study also failed weigh oil gas fish and wildlife information the state alaska had gathered nor had the department consulted the environmental protection agency the possible effects exploration the federation letters congressmen proposed that nine member commission set study all aspects the issue and report back congress about two years hair said the federation was not opposed the possible exploration oil only that interior study was inadquate make sound judgement congressional observers said that present there was little sentiment congress open the wildlife area for commercial exploitation dispite increasing concern that the united states becoming overly dependent foreign oil reuter 
earn	gemini food corp six mths january net shr profit one loss one net profit loss revs mln mln reuter 
acq	merrill lynch mer fires vaskevitch merrill lynch and inc fired the head the mergers department its london office today saying had been unable provide satisfactory explanation response insider trading charges filed yesterday the securities and exchange commission merrill had suspended the official nahum vaskevitch yesterday saying the time was disappointed and angry the sec charges are true merrill lynch statement midday today said the firm will continue cooperatie fully with authoriteis the and london investigating vaskevitch activities reuter 
earn	lincoln national corp lnc votes dividend qtly div cts cts prior qtr pay may record april reuter 
ship	lawrence seaway open schedule the lawrence seaway and the welland canal linking lakes erie and ontario were expected open scheduled march and april respectively lawrence seaway official said the entire seaway already free ice due the mild winter and could open for navigation today but there doesn seem enough demand from shipping companies warrant early opening the canadian official said repairs are continuing stepped pace the welland canal and should completed the april start date she added reuter 
earn	lvi group inc lvi qtr net oper shr profit two cts loss cts oper net profit loss mln revs mln mln mths oper shr profit cts loss cts oper net profit mln loss mln revs mln mln note all and last two months include results nico inc acquired oct prior year excludes discontinued operations loss cts per share the quarter and loss cts share the year excludes extraordinary gain two cts per share the quarter and four cts per share the year reuter 
earn	protocomdevices prcm sees more profit erosion protocomdevices inc said has seen more erosion its general financial condition since december and actively engaged negotiations secure additional financing also said has undergone restructuring its management and instituting further staff reductions said ramon morales has relinquished his role president and chief operating officer and assumed the position executive vice president charge international sales also said rafael collado has assumed the positions president and chief operating officer addition his role chief executive officer for the year ended january the company had net loss dlrs cts share revenues mln dlrs reuter 
earn	paradise fruit inc parf year net shr cts cts net sales mln mln note year net penalized cts shr from loss investment tax credits reuter 
earn	samson energy limited partnership sam year net loss loss revs mln mln notes loss includes write down mln dlrs the carrying value oil and gas properties taken the first quarter cash flow from operationswas dlrs dlrs per unit dlrs dlrs per unit reuter 
earn	acceleration corp acle qtr shr cts cts net mln year shr cts cts net mln mln note net includes tax loss carryforward gain dlrs reuter 
earn	energy optics inc qtr jan net shr profit nil loss five cts net profit loss revs half shr profit one loss cts net profit loss revs reuter 
acq	blue gass breeders blgr completes acquisition blue grass breeders inc said has completed the acquisition equine enterprises inc for four mln common shares said obligated deliver another shares the attainment certain level shareholders equity during any fiscal quarter within months closing all the contingent shares are issued blue grass said former owners equine will have pct interest blue grass equine new mexico quarter horse breeding and racing company reuter 
earn	digimed corp qtr dec loss shr loss two cts loss five cts net loss loss sales avg shrs six mths shr profit four cts loss cts net profit loss sales avg shrs reuter 
earn	flight international group inc flti qtr periods ended january shr profit cts loss cts net profit loss revs nine mths shr profit cts loss three cts net profit loss revs mln mln note year ago revenues include dlrs quarter and dlrs nine months from operations subsidiary sold april reuter 
earn	nord est plans mln franc bond issue financial and industrial holding company nord est plans make convertible bond issue for total mln francs president gustave rambaud said told news conference nord est expected receive approval from the bourse supervisory body cob the next two week when terms would set according market conditions said the issue was meant boost capital ahead new investments rambaud said the company would pay dividend francs unchanged parent company net profit last year rose mln francs against mln provisional consolidated profits were lower mln francs compared with mln which mln against mln was attributable the group said the lower profit was mainly due losses made steel tube maker vallourec which nord est has pct stake rambaud said forecast parent company net profit before provisions around mln francs reuter 
crude	solv solv shell canada shc pact complete solv corp said successfully completed its oil sands pilot testing program under its agreement with shell canada limited shc and received dlr bonus payment also said that shell canada exercised its option take over solv pct working interest the construction the oil facility relieving its obligation raise about mln canadian dlrs for plant construction said pct that loan was guaranteed the government alberta exchange for shell participation solv said shell obligated pay front royalty and running royalty based the operating profits the oil sands facility said the shell canada barrel per day oil sands project will built shell oil sand lease about miles north fort mcmurray the athabasca region northern alberta solv said the project will cost about mln canadian dlrs said that following final feasibility study the plant should open the early when oil prices are expected exceed dlrs per barrel reuter 
acq	purolator pcc director quits over buyout purolator courier corp director resigned from the company board saying plans take steps make find offer that tops the mln dlr buyout deal already accepted purolator board the company said the director doresy gardner resigned march letter the purolator board which was included filing made the company the securities and exchange commission gardner noted that the terms the merger agreement which the company would bought out group its managers and hutton lbo inc bar directors from taking action solicit initiate encourage acquisition proposals shareholder wish solicit initiate encourage such offer indication interest and believe therefore that should resign director the corporation gardner said the letter accordingly hereby resign director purolator courier corp effective immediately said gardner said believes shareholders could get better deal than the buyout offer the company would agree sold some other entity could sell off all part its courier division march another purolator shareholder rodney shields filed class action suit behalf the company shareholders charging the company and its board with breaching their fiduciary duty failing take steps ensure that shareholders got the highest possible price the buyout the deal would give shareholders dlrs share cash just pct purolator mln shares are tendered more are tendered they would receive dlrs cash and six dlrs debentures and warrant buy stock the new company exchange for each share reuter 
earn	unr industries inc unriq qtr net shr profit cts profit cts net profit profit sales mln mln year shr profit dlrs loss dlrs net profit loss sales mln mln reuter 
acq	century telephone ctl sell properties century telephone enterprises inc said has accepted offer sell its cable television properties michigan tennessee florida arkansas and louisiana for substantial gain the company said details were not disclosed reuter 
earn	volt information sciences inc volt qtr shr cts seven cts net revs mln mln avg mln mln note net includes mln dlr pretax gain settlement dlrs gain securities sale interest expense net investment income mln dlrs and dlrs fiscal change european operations method resulted pre tax translation losses mln dlrs period ended january reuter 
earn	paradise fruit parf sets lower dividend paradise fruit inc said its board declared dividend cts per share payable march holders record march the company last paid cts per share january and before that paid cts january paradise said commercial bank lending agreements entered into june include retained earnings requirements that limit the amount earnings available for distribution shareholders reuter 
earn	canada malting ltd year net oper shr dlrs dlrs oper net mln mln sales mln mln note excludes extraordinary loss mln dlrs dlrs per share reuter 
earn	north american holding corp nahl qtr net dec end shr profit nil loss four cts net profit loss revs avg shrs mln mln nine mths shr profit six cts loss seven cts net profit loss revs mln avg shrs mln mln reuter 
earn	general host corp sets quarterly qtly div six cts six cts prior pay april three record march reuter 
earn	grow group inc gro sets quarterly qtly div cts cts prior pay april record april reuter 
earn	digimed corp qtr dec loss shr loss cts loss five cts net loss loss sales six mths shr profit four cts loss cts net profit loss sales reuter 
crude	powerine refinery resume operations powerine oil said its refinery here will resume operation today with initial crude oil runs barrels per day powerine privately held company said expects the refinery become fully operational may with crude oil throughput bpd initial oil products deliveries are scheduled for monday powerine said the refinery had been closed due change ownership the company said reuter 
earn	trinity industries inc trn sets quarterly qtly div cts cts prior pay april record april reuter 
earn	coastal bancorp csbk sets quarterly qtly div five cts five cts prior pay april record march reuter 
earn	idaho power ida sets quarterly qtly div cts cts prior pay may record april reuter 
earn	united stationers inc ustr sets dividend qtly dividend six cts six cts pay april record march reuter 
earn	lincoln national corp lnc sets quarterly qtly div cts cts prior pay may one record april reuter 
earn	petrie stores corp pst sets quarterly qtly div cts cts prior pay april record april reuter 
acq	desoto dso sells industrial chemical assets desoto inc said sold the plant inventory and certain other assets some its industrial chemical operations plastic specialities and technologies inc privately held company headquartered parsippany new jersey terms were not disclosed desoto industrial chemical operations are based fort worth texas and has annual sales about mln dlrs reuter 
earn	safeguard health sfgd qtr loss shr loss cts profit cts net loss profit revs mln mln year shr loss cts profit cts net loss profit revs mln mln note full name safeguard health enterprises inc current qtr and year figures include mln dlr reserve for estimated loss from proposed divestment one third existing offices reuter 
acq	cytrx cytr unit buys swedish company cytrx corp said its pct owned cytrx biopool ltd subsidiary has acquired biopool umea sweden for undisclosed terms said former shareholders biopool own the remaining pct cytrx biopool ltd biopool develops cardiovascular and fibrinolytic products for diagnostic applications the company said cytrx biopool studying the possible combination cytrx corp rheothrx drug reduce platelet aggregation and viscosity blood with biopool drug for dissolving blood clots reuter 
interest	canada day bills average pct making bank rate pct 
earn	north american nahl sees record fourth qtr north american holding corp said expects have record fourth quarter earnings and for sales exceed mln dlrs for the fourth quarter ended march the company reported net income dlrs sales mln dlrs also said expects revenues for the year exceed mln dlrs for fiscal north american reported net loss dlrs sales mln dlrs reuter 
acq	investors intermedics itm stake pct group investment firms told the securities and exchange commission they raised their stake intermedics inc shares pct the total outstanding from shares pct bessemer securities corp new york investment firm cilluffo associates new york investment partnership and related entities said they bought intermedics common shares between february and march for mln dlrs reuter 
earn	wal mart stores inc wmt raises quarterly qtly div six cts cts prior pay april record march reuter 
earn	optrotech ltd optkf year net shr cts cts net revs mln mln note net includes gain dlr gain from quantity discount rebates purchases materials prior years reuter 
earn	north atlantic technologies natt qtr shr loss cts loss cts net loss loss revs year shr loss cts loss cts net loss loss revs note full name north atlantic technologies inc reuter 
crude	montedison other refineries shut for work selm societa energia montedison close its priolo crude refining units from march march for maintenance company spokesman said throughput the refinery currently estimated bpd although total capacity nearer bpd several other mediterranean refineries are currently shutdown for maintenance most which were scheduled some months ago but industry sources said that shutdowns may have been rearranged avoid running negative netback crude tighter availabilities products result the shutdowns the med helping keep products markets bullish particularly for march deliveries oil traders said garrone refinery san quirico capacity bpd due shutdown march for three weeks and the jointly owned isab garrone refinery mellili capacity bpd due start around march following its closure for maintenance month ago company spokesman said the esso italiana refineries augusta and siracusa will not closing this spring spokesman for the company said france the distillation unit societe francaise lavera refinery has been closed for maintenance since march and due restart early april total capacity bpd currently operating around pct capacity company spokesman said shell francaise berre etang refinery will shut down early april until mid june company spokesman said capacity around bpd compagnie francaise raffinage cfr will close the visbreaker its mede refinery early april but would not affect crude throughput the refinery company spokesman said current capacity bbl day despite current bullish sentiment the med however traders noted that crude netbacks are beginning look more attractive and most maintenance shutdowns should finished two three weeks result oil industry sources suggest that the situation may ease mid april reuter 
crude	attacks affect colombia oil outlook ecopetrol continuous rebel raids against oil pipelines and foreign exploration camps endanger colombia present oil bonanza franciso chona manager the state run oil company ecopetrol said seems the subversion wants end with our oil bonanza told reporters was speaking after meeting with defense minister rafael samudio military chiefs and mines and energy minister guillermo perry review the security situation the light recent upsurge leftist guerrilla attacks the oil rich arauca region bordering venezuela ecopetrol chief security retired general carlos narvaez said security measures would stricter and that the armed forces were closely collaborating but gave details samudio said new plans had been designed and hoped they would effective samudio stressed that despite the most recent attacks which cost more than four mln dlrs damage the overall situation had improved compared with last december when initial measures were taken combat wave attacks repeated bombings vital pipeline from the cano limon oilfield the caribbean then led loss barrels crude reuter 
earn	parker drilling suspends quarterly dividend 
acq	first granite bancorp inc agrees acquired magna group inc for stock 
earn	parker drilling pkd suspends payout parker drilling said its board directors voted suspend the payment dividends shareholders parker drilling said has been paying quarterly dividend one share common stock the company said expects save mln dlrs year through the dividend suspension reuter 
earn	eqk realty investors ekr qtr net shr nine cts cts net revs avg shrs mln mths shr cts net revs mln note mth figures not available for since company started operations march reuter 
earn	masco corp mas regular dividend set qtly div nine cts nine cts previously pay may record april reuter 
earn	eqk realty investors ekr sets payout qtrly div cts cts prior pay july record june 
crude	sun raises crude postings cts effective today wti dlrs bbl 
earn	ipco corp ihs sets regular payout qtrly div nine cts nine cts prior pay may record april reuter 
acq	first granite fgbi agrees acquired first granite bancorp inc said agreed principle become wholly owned subsidiary magna group inc magi under terms the agreement first granite shareholders will receive shares magna for each first granite share held first granite shareholders will asked approve the tranaction late summer first granite which has shares outstanding dec had assets mln dlrs owns first granite city national bank and colonial bank granite city ill magna groups dec had assets billion dlrs owns banks data services company mortgage company and trust company serving louis well springfield centralia and decatur ill reuter 
interest	canadian imperial bank commerce cuts prime rate pct from tomorrow 
earn	thermwood corp thm qtr jan net shr three cts three cts net sales six mths shr four cts four cts net sales avg shrs reuter 
earn	perini investment properties pnv raises payout qtly div cts cts prior qtr payable june record may reuter 
crude	sun sun raises crude postings cts sun said raised the contract price will pay for crude oil cts barrel effective today the increase brings sun posted price for the west texas intermediate and west texas sour grades dlrs bbl the light louisiana sweet grade was also raised cts dlrs bbl sun last changed its crude postings march reuter 
earn	petroleum and resources corp peo dividend interim income dividend cts last paid dlrs february including capital gains cts pyable april record april eight reuter 
interest	royal bank canada lowers prime rate pct down 
earn	new line cinema corp nln qtr net shr cts nine cts net revs year shr cts cts net revs mln mln avg shrs reuter 
interest	ottawa seeks explanation credit card rates minister state for finance tom hockin said has asked the canadian bankers association industry lobby group for explanation the level credit card interest rates hockin said hopes here the association response the important issue soon hockin was responding questions the house commons about why credit card rates which run high pct per year remain high when other rates are falling today the canadian bank rate fell pct from pct last week and the canadian imperial bank commerce cut its prime rate effective tomorrow pct from pct reuter 
earn	ipco corp ihs regular dividend qtly div nine cts nine cts prior qtr payable may one record apreil nine reuter 
earn	asamera inc year oper shr loss cts profit cts 
crude	diamond shamrock raised crude cts bbl today wti dlrs 
acq	alleghney international faces added count alleghney international inc said the plaintiffs the existing lawsuits opposing its sale requested amendment their complaint include class action count alleghney said the suit filed the district court for the western district pennsylvania was aimed blocking the sale alleghney affiliate first boston inc allegheney said the additional count sought the plaintiffs alleges the price offered for common stock dlrs grossly unfair and one the purposes the proposed sale absolve the individual defendants liability the lawsuit the additional count among other forms relief requests injunction against the defendants from taking any steps accomplish the proposed sale alleghney said reuter 
crude	phillips raises crude postings cts effective today wti dlrs bbl 
earn	bull and bear equity income fund bulax div new york march qtly div eight cts eight cts prior payable march record march reuter 
earn	rose stores inc rsto qtr jan shr cts cts net mln mln revs mln mln year shr dlrs cts net mln mln revs billion billion reuter 
crude	phillips raises crude postings cts phillips petroleum said raised the contract price will for all grades crude oil cts barrel effective today the increase brings phillip posted price for the west texas intermediate and west texas sour grades dlrs bbl phillips last changed its crude oil postings march the price increase follows similar moves usx subsidiary marathon oil and sun sun earlier today reuter 
earn	asamera inc asm year loss oper shr loss cts profit cts oper net loss mln profit mln revs mln mln note net excludes tax gain mln dlrs three cts shr ago gain mln dlrs cts shr net includes mln dlr charge for reduction carrying value refinery and related assets net includes mln dlr gain sale canadian natural gas property dlrs reuter 
earn	lvi group inc lvi qtr oper net oper shr profit two cts loss cts oper net profit loss revs mln mln avg shrs mln mln year oper shr profit cts loss cts oper net profit loss revs mln mln avg shrs mln note qtr and year oper net excludes gain dlrs and dlrs respectively for carryforwards and loss dlrs and dlrs respectively for early extinguishment debt qtr and year oper net excludes loss dlrs cts per share and loss dlrs cts per share respectively for discontinued operations reuter 
acq	talking point purolator courier corp pcc purolator courier corp stock rose specualtion that disgruntled former purolator director would find new suitor for the company traders said purolator agreed late february dlr share mln dlr offer from hutton lbo inc and certain members its purolator courier division management the stock today hit one today purolator revealed filing with the securities and exchange commission that director doresy gardner resigned from its board directors letter dated march the letter from gardner said resigned the board because the merger agreement with hutton barred directors from soliciting new offers and believes shareholders might get better deal gardner said believes better offer might found the company would agree sold some other entity could sell off all part its courier division basically the courier division company that has mln dlrs revenues very large company and being sold for mln dlrs said gardner telephone interview with reuters gardner official kelso management firm associated with fidelity international ltd group fidelity companies owns eight pct purolator and gardner said personally owns shares purolator official said the company has comment the letter from gardner arbitragers speculated another overnight messenger service may emerge likely bidder for purolator before the transaction with hutton lbo was announced analysts had also speculated another courier company would the most likely suitor while one arbitrager acknowledged there fact may new bidders said the possibility one could appear pushed the stock into play again there shortage possibilities just question management willingness let the process continue said one arbitrager arbitragers said new buyer might found because they believe hutton lbo has taken risk the transaction hutton has begun tender for pct purolator dlrs cash per share the balance purolator stock will bought for securities and warrants new company holding the courier operations the arbitragers said tender offer documents show that hutton does not need use its cash the transaction and will emerge with giant majority equity interest purolator far can tell from the public documents from the deal that the table hutton basically putting zero one always likes situation like that you always like think they can this deal risk there should someone else the world that could higher said one arbitrager the firm however supplying temporary financing and sources close the transaction disputed the claim that the firm will not end paying for its equity position while one scenario mentioned the tender offer document did note that the hutton group subsidiary may not have keep cash the transaction the sources said there some risk the firm there are variety contingencies and restricted cash and all sorts things that make very speculative said one the sources adding there are also severance payments employees the hutton group subsidiary supplying mln dlrs called bridge financing for the transaction the bridge financing temporary loan from hutton the financing replaced with permanent financing expected come from banks however may take some time replace the financing the source said resulting what could substantial expense the firm gardner said hutton stands gain fees mln dlrs from the transaction but sources close the transaction said fees are the low end the scale very complex transaction but basically what happens they ostensibly put money but the fees recapture any investment they might have once the merger takes place gardner said reuter 
trade	volcker sees clearcut evidence that trade deterioration has yet been reversed 
crude	diamond shamrock dia raises crude postings diamond shamrock said raised the contract price will pay for crude oil cts barrel effective today the increase brings the company posted price for the benchmark grade west texas intermediate dlrs bbl diamond shamrock last changed its postings march reuter 
interest	toronto dominion bank cuts prime rate pct from pct tomorrow 
interest	bank montreal cuts prime rate pct from pct effective friday 
acq	weinberger opposes fujitsu buying firm defense secretary caspar weinberger will join commerce secretary malcolm baldrige fighting fujitsu ltd itsu plan buy pct fairchild semiconductor corp pentagon officials said weinberger opposes not the best interests the country have more the micro electronics business leaving the united states one the pentagon officials who asked not identified told reuters commerce department officials told reuters yesterday that baldrige opposed the planned sale and that the white house economic policy council will take the matter within weeks commerce and defense officials said baldrige and weinberger feared the military already leaning too heavily foreign electronic support but the defense department also said today that weinberger and baldrige differed the proposed sale computer equipment iran the commerce department advised the pentagon recently that defense objections two proposed sales iranian power company and the islamic republic iran news agency were not valid and the sales small and medium computers would through unless more evidence was presented reuter 
acq	safeguard scientific sfe equity deal safeguard scientifics inc said made mln dlr equity investment sanchez computer associates inc private computer software firm based malvern safeguard said the investment gives major ownership position sanchez which specializes software products for financial institutions reuter 
earn	core industries inc cri qtr feb net shr cts cts net sales mln mln six mths shr cts cts net sales mln mln note results include gain sale land dlrs six cts share results include loss from discontinued operations dlrs four cts share the quarter and dlrs six cts share the six months reuter 
earn	first financial ffmc stock split first financial management corp said its board declared three for two stock split its common stock the split will effected pct stock dividend for shareholders record march distributed april six reuter 
interest	bank nova scotia cuts prime rate pct from pct effective tomorrow 
earn	circon corp ccon qtr shr loss two cts profit cts net loss profit revs mln mths shr profit two cts profit cts net revs mln reuter 
earn	brown transport btcu declares first payout brown transport inc said its board declared initial quarterly dividend four cts share payable april stockholders record march reuter 
trade	key house trade subcommittee approves bill toughen trade laws 
acq	summit petroleum corp sells shares summit petroleum corp said sold mln shares pct its common stock halbert and associates inc the company said the shares were previously held consolidated energy corp and harken oil and gas inc hogi addition david halbert president and chief executive officer halbert abilene investment firm was named chairman and chief executive summit the company said halbert charles bruce and james burke were also named directors expanding the board five summit added the company said burke president and chief executive allied comprehensive health inc abilene while bruce partner the washington law firm butler and binion summit said intends actively seek acquisitions increase its asset base reuter 
trade	clear evidence trade gap reversed volcker federal reserve board chairman paul volcker said current data does not give clear sign that the deterioration the trade balance has yet been reversed the data have hand not provide clearcut evidence that the deterioration the trade balance has yet been reversed volcker said remarks prepared for delivery luncheon for community leaders here however volcker said there are encouraging signs particularly the rising volume exports over the past year achieved despite relatively slow growth abroad volcker warned not sustainable from economic perspective pile foreign debt while failing make the investment needed generate growth and earn the money service the debt said the process restoring external balance the economy requires dealing with the budget deficit said needed economic adjustment will require relative shift financial and real resources into internationally competitive industry more our growth will need reflected net exports and business investment and less consumption volcker said reuter 
earn	tony loma inc tlam qtr shr profit nil loss cts net profit loss revs mln mln year shr loss cts loss cts net loss loss revs mln mln note net includes extraordinary gain dlrs cts per share reuter 
acq	allied lyons sees change hiram walker stake allied lyons plc alld and canada reichmann brothers are working well together partners and currently not plan any change their joint ownership distiller hiram walker gooderham and worts allied lyons chairman derrick holden brown said allied lyons got pct control hiram walker gooderham last year for about mln dlrs while the reichmanns gulf canada corp acquired pct out court pact after hostile battle for the wine and spirits division hiram walker resources ltd are getting along very well partners hope there won any change but there could holden brown told reporters after speech toronto said allied lyons has two year call option that could force gulf canada sell its pct stake allied lyons and gulf canada has two year put option that could obligate allied lyons buy its pct both and gulf hope very much there will occasion for either the put call exercised holden brown said answer reporter question holden brown said would possible for gulf canada sell off part its pct public offering with allied lyons consent don think would have any objection added allied lyons maintains control hiram walker gooderham board directors and has total responsibility for its management cannot contemplate giving our control said holden brown would not disclose how big profit contribution the distiller will make allied lyons financial results but said will substantial not able give profit forecasts said holden brown said allied lyons was able finance the hiram walker gooderham acquisition with cash and borrowings and has current plans for stock issue said the company not currently negotiating any more acquisitions canada but has team officials evaluating possible purchases wines spirits soft drinks food concerns don think shall looking the brewery scene which highly concentrated already added holden brown said allied lyons plans list its shares canadian stock exchanges possibly later this year reuter 
earn	eaton vance corp eavn qtr jan net shr cts cts net avg shrs reuter 
earn	adams express adx sets regular payout div cts cts pay april record april note company pays dividend cts three times annually with bulk payment the end the fiscal year equal annual dividend cts reuter 
grain	cargill official defends certificate programs the use generic kind commodity certificates has helped ease storage problems and necessary part export promotion programs senior executive for the world largest grain company said testifying before the house agriculture subcommittee wheat soybeans and feedgrains robbin johnson vice president cargill inc disputed claims that grain companies have made huge profits from certificate trading the certs program not any way windfall the trade said johnson said that cargill has been dealing with two pct spread certificate transactions and that this within the normal grain marketing levels johnson recognized current concern over the cost certificates compared cash but said that critics need look more closely the savings caused certs noting for example that widespread use certs the pik and roll marketing technique last summer helped ease storage costs certificates are also important part any export promotion program said the more you look ways expand export markets the more you have look ways expand certs put more grain into the market meet demand said subcommittee chairman dan glickman kans said his committee would looking the certificate program later this year and studying the general accounting office report certificate costs reuter 
crude	house speaker backs oil import forecast plan house speaker jim wright endorsed proposal require the president take action reduce oil imports they threaten top pct consumption wright told reporters the plan sen lloyd bentsen fellow texas democrat was positive and useful oil imports peaked pct were short pct last year and this year are over pct bentsen said the bentsen proposal supported other senators would would require the president issue annual three year oil import forecasts any year they threatened top pct would ordered propose quotas other solution reuter 
acq	princeville pvdc sell its air operation princeville development corp and aloha inc parent aloha airlines inc jointly said they agreed terms for the sale princeville airways inc aloha terms the agreement were not disclosed under the proposed sale the companies said aloha would acquire the entire princeville airways commuter operation and access the princeville airport the island kauai they said princeville airways expected operate subsidiary aloha inc and will continue use the princeville aiways name reuter 
acq	new hampshire savings nhsb buy bank new hampshire savings bank corp said agreed buy seashore bankshares inc exchange stock according the terms the deal said seashore shares will exchanged for mln dlrs new hampshire savings stock said seashore bankshares has assets about mln dlrs reuter 
earn	amvestors financial avfc sets stock dividend amvestors financial corp said declared pct stock dividend payable june holders record june one subject increase authorized shares said shareholders will vote the april annual meeting increase authorized shares mln from mln the company also said plans pay initial quarterly dividend five cts share the shares reuter 
trade	house panel approves trade bill the house ways and means trade subcommittee unanimously approved toned down version legislation designed toughen trade laws and wedge open foreign markets more goods the measure now goes the full house ways and means committee next week but major changes are not expected congressional sources said this product could very well toughening our trade policy and doing manner that opens markets without this frightening word protectionism ways and means chairman dan rostenkowski illinois democrat said the trade subcommittee backed away from mandating specific retaliation against foreign countries for unfair foreign trade practices the house had approved trade bill last year but held over for the full ways and means committee debate controversial plan rep richard gephardt mandate reduction trade surpluses with the countries such japan south korea and taiwan gephardt missouri democrat has not decided the exact form his amendment aide said last year the house approved his idea force annual ten pct trade surplus cut those countries the trade bill will wrapped with legislation from other committees dealing with relaxation export controls incentives for research expanded worker training and education and other efforts increase competitiveness the comprehensive trade bill considered the full house late april and then will considered senate committees requires president reagan retaliate against foreign unfair trade practices but not mandate quotas tariffs and allow exemption economic security would harmed actions against other countries the bill would make easier for industries win relief from surges imports competitive products extends until january the administration authority negotiate trade agreements part the new round multilateral talks under the general agreements tariffs and trade and includes provisions tighten trade rules copyrights patents and telecommunications goods reuter 
earn	standard logic inc stdl qtr loss qtr ends jan oper shr loss cts profit cts oper net loss profit revs note oper net excludes loss from discontinued operations loss for prior qtr excludes tax carryforward for prior qtr reuter 
crude	unocal raises most crude prices cts today wti dlrs 
earn	shawmut corp shas sets regulary dividend qtly div cts cts prior pay april one record march reuter 
earn	anglo american aivj year dec shr cts final div making pre tax mln rand mln net mln mln tax mln mln att outside shareholders mln mln pref div mln same turnover billion billion div pay may register march note full name anglo american industrial corp ltd reuter 
earn	anglo american aivj year dec shr cts final div making pre tax mln rand mln net mln mln tax mln mln att outside shareholders mln mln pref div mln same turnover billion billion div pay may register march note full name anglo american industrial corp ltd reuter 
crude	unocal ucl raises crude oil postings unocal corp said raised the contract price will pay for most grades crude oil cts barrel effective today the increase brings unocal posted price for the benchmark grade west texas intermediate dlrs barrel also brought the price for west texas sour dlrs bbl light louisiana sweet was also raised cts dlrs bbl unocal last changed its crude postings march four and brings price line with other major companies which have been raising prices steadily recent weeks the increase also represents the latest series increases that began with usx corp marathon petroleum corp notification yesterday evening that effective today raised its crude postings cts barrel bringing its contract price for wti dlrs barrel earlier today sun sun phillips petroleum and diamond shamrock dia also said they raised their crude postings cts barrel bringing their wti contract price dlrs barrel contract prices have risen response higher spot market prices oil traders said reuter 
crude	citgo raises crude postings cts today wti dlrs bbl 
acq	court lifts restraining order mark baird corp batm said the massachusetts state court for suffolk county has lifted temporary restraining order prohibiting mark industries inc from further purchases baird stock according filings with the securities and exchange commission mark owns least pct baird stock and may attempt acquire baird baird said baird said the court also issued order enjoining baird from enforcing the massachusetts anti takeover statute against mark industries reuter 
earn	cji industires inc cjiia qtr net oper shr profit cts loss cts oper net profit loss revs mln mln avg shrs mln mln year oper shr loss dlrs loss cts oper net profit profit revs mln mln note per share figures come after preferred dividends excludes fourth quarter and full year extraordinary gains cts and cts per share respectively reuter 
earn	counsel corp sets three for two stock split counsel corp said plans three for two stock split pending shareholder approval the april annual meeting the company said recently reported profit mln dlrs dlrs share before extraordinary items compared with mln dlrs cts reuter 
crude	southland slc unit raises crude postings southland corp citgo petroleum corp said raised the contract price will pay for crude oil cts barrel effective today the increase bring citgo posted price for the west texas intermediate and west texas sour grades dlrs barrel the light louisiana sweet south onshore grade was also raised cts dlrs barrel and light louisiana sweet north was increased dlrs barrel citgo last changed its postings march four reuter 
earn	cannon can audit show significant loss the cannon group inc said its financial statements will show substantial losses for fiscal and significant downward adjustments previously reported stockholders equity the company also said its audit being conducted arthur young and will cover the year ended january instead the nine month period ended september previously announced said anticipates the results the audit will available mid late april reuter 
acq	eager technology acquires nuclad eager technology inc said signed letter intent acquire nuclad inc private colorado corporation and its subsidiaries terms the acquisition were not disclosed reuter 
acq	interconnect offers buy gates learjet glj interconnect capital corp said sent letter the board gates learjet corp offering buy the company for dlrs share gates corp which owns pct gates learjet agreed earlier this week sell its shares partnership formed privately held cobey corp and unit bear stearns cos inc bsc for dlrs share mln dlrs the proposal subject approval gates learjet board spokesman for privately held interconnect said made the new proposal gates learjet board but would not say had held talks with the parent company board reuter 
acq	seal sinc acquires ademco ltd seal inc said acquired ademco ltd united kingdom company which distributes mounting and laminating equipment and supplies for combination cash and stock valued mln dlrs based current exchange rates seal said will pay additional mln dlrs contingent the market price seal common december and certain earnings targets the acquired business reuter 
crude	brazil cancels oil purchase from saudi arabia brazil state oil company petrobras cancelled mln dlr crude oil purchase from saudi arabia after the saudis refused accept credit guarantees from the bank brazil petrobras official said export director carlos santana told press conference the saudis were the first suppliers oil impose such conditions after brazil decision halt interest payment its commercial debts last month the shipment mln barrels represents two days oil consumption brazil but santana said the saudis change their minds and decide respect the terms the contract then petrobras will lift the order cancel the shipment santana said the saudis not accept brazil terms monday then petrobras will negotiate elsewhere petrobras has been saudi arabia traditional client since they not accept our conditions now will much better for because with the market prices more less the same buying from iraq and china advantage said iraq and china have barter deals with brazil importing brazilian goods exchange for oil but the saudis buy nothing from brazil said santana said despite strike threat oil industry workers and two week stoppage brazilian seamen petrobras oil stocks are reasonably balanced saudi arabia brazil second biggest oil supplier with average bpd iraq the main supplier with bpd china comes third with bpd the saudis wish stop our trade relationship fine sure that they will getting dozens offers from elsewhere santana added reuter 
trade	house panel approves trade bill the house ways and means trade subcommittee unanimously approved toned down version legislation designed toughen trade laws and wedge open foreign markets more goods the measure now goes the full house ways and means committee next week but major changes are not expected congressional sources said this product could very well toughening our trade policy and doing manner that opens markets without this frightening word protectionism ways and means chairman dan rostenkowski illinois democrat said the trade subcommittee backed away from mandating specific retaliation against foreign countries for unfair foreign trade practices the house had approved trade bill last year but held over for the full ways and means committee debate controversial plan rep richard gephardt mandate reduction trade surpluses with the countries such japan south korea and taiwan gephardt missouri democrat has not decided the exact form his amendment aide said last year the house approved his idea force annual pct trade surplus cut those countries reuter 
crude	india gets mln dlr world bank loan the world bank said has approved mln dlr loan for india help lessen that country dependence imported oil and spur development its own petroleum resources the bank said the loan will used boost production injecting gas the partially depleted assam oil fields and assist exploration other areas including drilling exploratory wells the bank said the recipient the year loan will oil india ltd oil which the smaller two public indian petroleum exploration and production companies reuter 
crude	india gets mln dlr world bank loan the world bank said approved mln dlr loan for india help lessen that country dependence imported oil and spur development its own petroleum resources the bank said the loan will used boost production injecting gas the partially depleted assam oil fields and assist exploration other areas including drilling exploratory wells the bank said the recipient the year loan will oil india ltd oil which the smaller two public indian petroleum exploration and production companies reuter 
acq	cannon can sells library weintraub weintraub entertainment group inc said agreed acquire cannon group screen entertainment film library the library was purchased may part cannon acquisition screen entertainment ltd from bond corp holdings ltd the library has over theatrical motion pictures terms call for the price established through appraisal process beginning immediately and not exceed mln dlrs below mln dlrs reuter 
acq	gerber grb buys gerber systems gsti shares gerber scientific inc said its gst acquisition corp purchased shares its pct owned gerber systems technology pursuant january tender offer following the purchase gerber made capital contribution gst all the shares owned resulting pct ownership gst reuter 
crude	venezuela lend ecuador bpd crude venezuela will lend ecuador barrels per day crude oil over the next few months help meet its export commitments energy and mines minister arturo hernandez grisanti said today said that under the terms this loan agreed during visit here this week ecuador deputy energy minister fernando santos alvite ecuador will begin repaying the loan august hernandez grisanti said the loan will part way offsetting the loss ecuador exports caused earthquake damage miles pipeline last week ecuador was forced suspend exports after the pipeline connecting its jungle oil fields with the pacific port balao was put out action venezuela has output quota bpd while ecuador bpd santos alvite said ecuador will ask opec allow produce bpd above its quota when the pipeline repaired offset present production losses hernandez grisanti said also first barrels shipment venezuelan crude oil will leave for ecuador this weekend help meet domestic consumption needs the oil part five mln additional crude oil loan venezuela will processed guayaquil refineries had not supplied oil ecuador the life this country would have ground halt said reuter 
earn	the adelaide steamship ltd adsa first half first half ended december shr cents int div cents net mln dlrs mln turnover mln mln other revenue mln mln one for five rights issue dlrs share one for four bonus issue capital enlarged rights issue shrs mln mln note shr applies total net mln dlrs mln after extraordinaries loss pre extraordinaries net shr cents div pay april div and rights issue reg march bonus reg may net equity accounts share associates earnings pre equity pre tax earnings mln dlrs mln pre equity net mln dlrs mln after tax mln mln minorities mln mln interest mln mln and depreciation mln mln but before net extraordinary loss mln mln reuter 
earn	bryn mawr bank corp bmtc ups dividend qtly div cts cts prior payable may one record april note bryn mawr was reorganized holding company january resulting each share bryn mawr trust being converted into three shares the new holding company stock the cts dividend represents pct increase over prior quarter reuter 
acq	price pclb buy pct tss seedman price said agreed buy least pct the stock tss seedman inc for about mln dlrs the terms envision purchase the entire company said the transaction expected close the end april reuter 
ship	two brazilian shipping firms settle with strikers two small shipping companies have reached pay deal with striking seamen but union leaders said most brazil seamen were still strike union spokesman rio janeiro said the seamen had accepted pct pay offer from the companies globo and flumar which have less than employees each the two week strike comes brazil faces debt crisis and delaying exports badly needed earn foreign exchange labour minister almir pazzionotto said the government will not force settlement the strike which was ruled illegal last friday reuter 
earn	chock full nuts corp qtr jan loss new york march oper shr loss cts profit cts oper net loss profit revs mln mln six mths oper shr loss cts profit cts oper net loss profit revs mln mln note year ago oper excludes loss from discontinued operations dlrs for qtr and dlrs for six mths reuter 
earn	adsteam rights issue raise mln dlrs the adelaide steamship ltd adsa adsteam said its one for five rights issue dlrs share will raise mln dlrs for general working capital and investment both australia and overseas the group announced the issue with its first half earnings and said statement that the rights issue will followed one for four bonus issue adsteam equity accounted net earnings rose mln dlrs the half ended december from mln year earlier and interim dividend cents from adsteam shares eased dlrs from opening and yesterday close the issue announcement the issue will underwritten morgan grenfell australia ltd and mccaughan dyson ltd apart from the shares taken adsteam associate and largest shareholder department store retailer david jones ltd new shares will not rank for the interim dividend but will rank equally thereafter adsteam said expects maintain annual dividend rate cents capital enlarged about mln shares both issues from mln adsteam said its diverse industrial interests generally performed well and its results the ultimate holding company and beneficiary reflected this solid performance david jones owned pct adsteam earned the largest associates net mln dlrs the half against mln year earlier adsteam figures show wholly owned and joint venture companies also did well apart from timber building supplies and real estate which returned below budget profits due the housing downturn adsteam said sees year reconstruction and consolidation with the capital base boosted the issue reuter 
acq	hearst buys houston chronicle for mln dlrs the hearst corp buying the houston chronicle from houston endowment inc for mln dlrs the announcement was made jointly frank bennack president and chief executive officer hearst and richard johnson president the chronicle the houston endowment selling the paper comply with federal tax laws requiring charitable institutions divest themselves profit making subsidiaries the chronicle has daily circulation over and competition with the houston post owned the toronto sun publishing corp with circulation about the acquisition gives hearst its biggest newspaper holding texas where the california based publisher already owns papers san antonio beaumont and laredo the chain also owns among others the flagship san francisco examiner the los angeles herald examiner and the seattle post intelligencer reuter 
acq	iel acmex unit bid for cheetham industrial equity ltd iel unit acmex holdings ltd said proposed make formal takeover offer for all the issued capital cheetham ltd producer salt animal feed and seeds acmex said statement would offer one share for every two cheetham shares dlrs cash for each share acmex said was presently entitled mln cheetham shares pct its mln issued shares the scrip offer values cheetham about mln dlrs based acmex current price dlrs and the cash offer about mln cheetham last traded dlrs reuter 
trade	japan denies breaking semiconductor trade pact japan denied breaking pact with the semiconductor trade but said prices set out the pact were too high and acknowledged difficulties implementing the accord are faithfully abiding the agreement but course there are some problems spokesman for the international trade and industry ministry told reuters said the high semiconductor prices recommended the agreement were leaving japanese manufacturers piling stocks unsellable products are aiming reduce production japan but course this takes time said the spokesman said some japanese companies were selling chips europe and asia below stipulated prices but added only matter time before solve this problem the eight month old pact aims stop japan selling large quantities chips knock down prices the united states and other countries and increase semiconductor sales japan the senate finance committee this week called president reagan non binding resolution retaliate against japan for violating the agreement reuter 
trade	swiss feb trade deficit mln francs jan deficit mln official 
grain	china january grain exports fall china grain exports january totaled tonnes down pct from january customs figures show they gave detailed breakdown the official china economic news quoted the figures showing tea exports rose pct tonnes during the month imports wool rose pct tonnes over the same period the figures show reuter 
trade	swiss february trade deficit mln francs switzerland had trade deficit mln swiss francs february compared with revised mln deficit january and mln shortfall february the federal customs office said february imports were billion francs against exports billion imports rose real terms pct against february while exports rose real pct the office said but further improvement the terms trade left the deficit smaller than last year last february figure had also been hit the import two passenger aircraft reuter 
ship	japan shipbuilders seek cartel restrict output japanese shipbuilders have applied the state fair trade commission form cartel restrict tonnage built about half total capacity for the year starting april officials the shipbuilders association japan said under the plan yards capable building ships more than gross tons will curtail operations three mln compensated gross registered tonnes cgrt year against capacity about six mln cgrt the transport ministry estimates new orders mln cgrt the year march and mln the following year the industry has curtailed production due oversupply nearly every year since under cartel transport ministry guidelines the latest guidelines call for ceiling four mln cgrt the year march the cartels self imposed and self regulated are not legally binding but industry finds its own interest stick them the slowdown orders has been caused the strong yen and protracted worldwide shipbuilding slump reuter 
earn	kubota ltd kub third quarter january group shr yen net profit billion profit billion pretax profit billion loss mln operating profit billion profit mln sales billion billion nine months ended january group shr yen net billion billion pretax billion billion operating billion billion sales billion billion reuter 
earn	sandoz sanz year group net profit mln swiss francs mln dividend francs per francs nominal share francs per franc nominal participation certificate group turnover billion francs billion cash flow mln francs mln parent company net profit mln francs mln reuter 
earn	alusuisse group net loss mln swiss francs loss mln 
trade	bank japan calls for long term efforts trade the short term effect foreign exchange rate movements correcting international trade imbalances appears waning and long term efforts are required cut japan chronic dependence external demand the bank japan said monthly report japan trade surplus nominal terms likely remain high the near future the central bank said fundamental adjustments will needed long japan hopes benefit from better international allocation resources and maintain the free trade system added reuter 
interest	london floating rate note prices open sharply lower dealers say 
earn	alusuisse aluz year net loss mln swiss francs loss mln gross sales billion billion operating income mln francs mln net extraordinary charges mln mln note company plans pct capital reduction banks convert mln francs credit facilities subordinated loans immediate plans for capital increase company full name schweizerische aluminium reuter 
crude	opec deliberately under mln barrel ceiling defend price subroto 
acq	county increases tesco stake hillards county ltd which acting concert with tesco plc tsco its mln stg for supermarket chain operator hillards plc has purchased hillards ordinary shares per share statement said these purchases together with those made county march represent about pct hillards issued ordinary share capital said tesco offer made march values each hillards ordinary share pct premium over the previous day closing price cash alternative will made available reuter 
crude	subroto sees oil market continuing bullish indonesian energy minister subroto said sees the oil market continuing bullish with underlying demand expected rise later the year told press conference jakarta the end two day meeting south east asian energy ministers that saw prices stabilizing around dlrs barrel the sentiment the market bullish and think will continue that way demand will the third fourth quarters subroto said asked about the prospect for oil prices said think they will stabilise around dlrs although there little turbulence course the spot price will fluctuate but the official price will remain dlrs added reuter 
crude	opec defending dlr price subroto says indonesian energy minister subroto said opec deliberately under its production ceiling mln barrels defend its dlr barrel price target told reporters energy conference jakarta that opec had decided maintain its price level dlrs are deliberately defending the price opec production less than mln the moment stated asked opec would increase production prices went above dlrs barrel said this would decided the next opec meeting june will discuss the market situation then added said meeting the opec differentials committee had been postponed because there need for the meeting did not elaborate the committee had originally been due meet vienna this week reuter 
acq	japan rejects objections fairchild sale foreign ministry official dismissed arguments made senior government officials seeking block the sale microchip maker japanese firm they appear linking completely unrelated issues shuichi takemoto the foreign ministry north american division told reuters commerce secretary malcolm baldrige has asked the white house consider blocking the sale fairchild semiconductor corp japan fujitsu ltd itsu officials said yesterday baldrige expressed concern that the sale would leave the military dependent foreign company for vital high technology equipment pentagon officials said defence secretary caspar weinberger also opposes the sale officials have also said the sale would give fujitsu powerful role the market for supercomputers while japan supercomputer market remains closed sales takemoto said national security should not issue since the planned purchase fairchild from its current owner schlumberger ltd slb does not include fairchild main defence related division addition takemoto said tension over the supercomputer trade should not affect the sale fairchild does not make supercomputers analysts noted that fairchild does make sophisticated microchips used supercomputers fujitsu makes similar chips and supplies them supercomputer makers they said takemoto also dismissed fears that the proposed takeover would violate antitrust law saying the purchase would not result fujitsu monopolising the semiconductor market two separate issues appear have come together boost pressure block the purchase industry analysts said the move part attempt force japan open its domestic market more supercomputer sales they said officials have repeatedly charged that the japanese public sector closed supercomputer sales despite firms technological lead the field the united states believes japan will only react when bullied and this bullying ploy salomon brothers asia analyst carole ryavec said however the analysts said more stake than supercomputer sales the fears losing its vital semiconductor industry japanese competitors the real issue xenophobia the silicon valley said tom murtha brokerage james capel and japanese tension over the semiconductor trade has failed subside despite recent efforts japan ministry international trade and industry miti get japanese firms abide bilateral pact aimed halting predatory pricing and opening japan market miti official said that while japan faithfully abiding the agreement problems remain halting the sale microchips europe and southeast asia prices below those set the pact only matter time before solve this problem told reuters despite the furore fujitsu will proceed with talks the acquisition line with the basic agreement reached with schlumberger last year fujitsu spokeswoman told reuters reuter 
money-fx	bank england offers early help money market the bank england said invited early round bill offers help ease tight conditions the money market the bank estimated today liquidity shortage about billion stg bills maturing official hands and the treasury bill take would drain billion stg from the system while rise the note circulation and below target bankers balances would take out mln and mln respectively the bank said against this exchequer transactions would add net mln stg reuter 
earn	alusuisse shares suspended capital cut news trading shares schweizerische aluminium alusuisse aluz was suspended the zurich stock exchange after today announcement the company that would cut its share capital pct the bourse said the bourse said trading would resume again monday alusuisse bearer shares closed francs yesterday registered shares francs and the participation certificates reuter 
crude	petrobras cancels oil purchase from saudi arabia brazil state oil company petrobras has cancelled mln dlr crude oil purchase from saudi arabia after the saudis refused accept credit guarantees from the bank brazil and did not disclose reasons petrobras official said export director carlos santana told reporters the saudis were the first suppliers oil impose such conditions after brazil decision halt interest payment its commercial debts last month the shipment mln barrels represents two days consumption said the saudis reported they would longer accept letters credit from the bank brazil even from saudi banks and that brazil would have obtain credit guarantees from leading international banks february brazil had contracted buy bpd from the saudis until june saudi arabia brazil second biggest oil supplier with average bpd iraq the main supplier with bpd china comes third with bpd the saudis wish stop our trade relationship sure that they will getting dozens offers from elsewhere santana added santana said the saudis change their minds and decide respect the terms the contract then petrobras will lift the order cancel the shipment the saudis had put similar conditions previous shipment added telexed them saying that they insisted would rather cancel the contract and buy the product elsewhere santana said after petrobras threatened cancel the contract the saudis changed their minds and decided accept the bank brazil credit guarantees said reuter 
acq	mannesmann considering majority stake fichtel mannesmann mmwg spokesman said the company has lodged application with the federal cartel office for approval possible majority stake car parts company fichtel und sachs described the application precautionary move and said agreement buying majority stake had yet been reached until now mannesmann has said only that wanted buy pct stake fichtel from the heirs ernst wilhelm sachs the grandson the firm founder the spokesman declined say from whom may buy the other shares create majority stake the firm fichtel other principal shareholders are commerzbank cbkg with pct and salzgitter islg with pct spokesmen declined comment directly the possibility selling fichtel shares mannesmann mannesmann said january hoped take pct stake fichtel holding company sachs the first quarter last week spokesman said mannesmann had letter intent the pct stake but completion was being delayed legal questions surrounding the inheritance reuter 
earn	schweizerhalle fire hit sandoz profits sandoz sanz would have reported percentage rise net profits close double figures rather than the actual two pct had not been for november warehouse fire senior company official said the official who declined identified told reuters sandoz had made substantial addition reserves cope with the consequences the accident schweizerhalle which caused severe pollution the rhine sandoz today reported without comment rise net profits mln francs from the previous mln and five pct increase dividend francs per franc nominal share this year began well with the performance january and february least equal the same period last year the official said the company expected give fuller details its results news conference april sandoz has insisted that adequately insured cover any liability arising from the accident the official said the addition reserves was cover the one pct claims somehow not covered and any voluntary gestures wanted compensate for the effects pollution from the fire sandoz has not given any figure for claims which have been flowing from switzerland and other countries bordering the rhine since the accident however the official said the final figure would much less than that cited earlier comments gave further details line with fellow chemical giant ciba geigy cigz which reported last month sandoz profit and turnover were also hit the falling dollar the official said sales local currency terms were pct with market share increases the united states and japan but this was more than offset pct negative foreign exchange effect which produced the reported one pct drop turnover billion francs the sandoz official said net profit ciba geigy dropped pct billion francs while sales fell pct billion francs the third major swiss chemical company hoffmann roche and hofz has not yet reported its results reuter 
earn	alusuisse sees possible break even schweizerische aluminimum aluz alusuisse may able break even this year after cleansing its balance sheet for chief executive hans jucker said the threshold profitability has returned the foreseeable future said expect already approximately break even that presupposes however that our industrial environment does not worsen said alusuisse would longer face the burden past losses alusuisse made net loss mln swiss francs after restated mln loss gross sales were billion francs after billion and net turnover billion after billion alusuisse had originally reported mln francs loss for but jucker and finance director hermann haerri told news conference the new management installed year ago had decided restate the previous five years accounts eliminate rights australian bauxite previously the books asset together with other one off charges alusuisse took gross extraordinary charge mln francs from mln also had mln extraordinary income remaining after provisions from the sale its maremont corp subsidiary the united states there were extraordinary gains jucker said the losses plus those carried forward from had wiped out the company remaining reserves and exceeded legally allowed levels forcing alusuisse adopt pct capital cut approved shareholders april jucker said knew shareholders would find this radical elimination the mortgages the past painful but said the foundation had been laid for successful new company strategy haerri said despite the losses the company liquidity was strong bank debt had been cut about one third billion francs against the end level billion cash flow improved substantially mln francs from mln and represented pct turnover against mere pct addition reassure other creditors alusuisse had arranged with three major swiss banks union bank switzerland sbgz swiss bank corp sbvz and credit suisse crsz convert mln francs credits into subordinated loan the main sources losses were book losses and not cash losses haerri said existing credit lines were used only small extent and the parent company had been granted new credit line mln francs from consortium swiss banks that would cover most the loans falling due haerri said the company had been criticized for maintaining bauxite rights asset and had restated the accounts that left the account with mln franc loss instead mln with mln profit instead mln with mln loss instead mln and with mln loss instead mln the new accounts show with shareholders equity billion francs instead billion and similar alternations were made for previous years after losses shareholder equity stood only mln francs reuter 
earn	japan corporate profits last quarter current profits japan major firms the october december quarter rose four pct from year earlier billion yen against pct year year rise the preceding quarter the finance ministry said the improved earnings resulted mainly from pct profit increase non manufacturing industries supported pct rise for construction firms and pct gain real estate according ministry survey total sales the firms with capital mln yen more which responded the poll fell one pct billion yen against pct fall the previous quarter current profits manufacturing industries the fourth quarter dropped pct billion yen against pct fall the preceding quarter the ministry said plant and equipment investments all firms polled fell pct billion yen compared with percent fall the previoius quarter ministry officials said the survey showed that the japanese economy delicate stage which hard tell economic growth has stopped deteriorating the economy heading for recovery reuter 
ship	two brazilian shipping firms settle with strikers two small shipping companies have reached pay deal with striking seamen but union leaders said most brazil seamen were still strike union spokesman rio janeiro said the seamen had accepted pct pay offer from the companies globo and flumar which have less than employees each the two week strike comes brazil faces debt crisis and delaying exports badly needed earn foreign exchange labour minister almir pazzionotto said the government will not force settlement the strike which was ruled illegal last friday reuter 
money-fx	miyazawa says exchange rates will stay stable finance minister kiichi miyazawa told press conference thinks exchange rates will remain stable due the currency accord reached paris last month six major industrialised nations but did not say for how long the dollar has hovered around yen since the six agreed cooperate bring about currency stability asked comment remarks some officials calling for further decline the dollar miyazawa said only the president and the treasury secretary can make official statements about exchange rates reuter 
crude	subroto sees oil market continuing bullish indonesian energy minister subroto said sees the oil market continuing bullish with underlying demand expected rise later the year told press conference jakarta the end two day meeting south east asian energy ministers that saw prices stabilizing around dlrs barrel the sentiment the market bullish and think will continue that way demand will the third fourth quarters subroto said asked about the prospect for oil prices said think they will stabilise around dlrs although there little turbulence course the spot price will fluctuate but the official price will remain dlrs added reuter 
crude	opec defending dlr price subroto says indonesian energy minister subroto said opec deliberately under its production ceiling mln barrels defend its dlr barrel price target told reporters energy conference jakarta that opec had decided maintain its price level dlrs are deliberately defending the price opec production less than mln the moment stated asked opec would increase production prices went above dlrs barrel said this would decided the next opec meeting june will discuss the market situation then added said meeting the opec differentials committee had been postponed because there need for the meeting did not elaborate the committee had originally been due meet vienna this week reuter 
trade	bank japan calls for long term efforts trade the short term effect foreign exchange rate movements correcting international trade imbalances appears waning and long term efforts are required cut japan chronic dependence external demand the bank japan said monthly report japan trade surplus nominal terms likely remain high the near future the central bank said fundamental adjustments will needed long japan hopes benefit from better international allocation resources and maintain the free trade system added reuter 
earn	aep industries inc aepi qtr jan net shr cts cts net sales mln mln avg shrs reuter 
earn	holmes ltd hlme qtr net shr cts dlrs net sales mln mln year shr cts cts net sales mln mln note share adjusted for three pct stock dividend january pretax net profits dlrs dlrs quarter and loss dlrs profit dlrs year latest year net includes pretax gains dlrs quarter and dlrs year from pension plan reversions prior year net includes gain dlrs sale property reuter 
acq	first boston fbc starts allegheny bid first boston inc said has started its previously announced tender offer for all common shares dlr cumulative preference shares and dlr convertible preferred shares allegheny international inc dlrs dlrs and dlrs respectively newspaper advertisement the company said the offer and withdrawal rioghts will expire april nine unless extended the offer conditioned receipt least majority allegheny voting power fully diluted basis and receipt least two thirds each the preference and preferred shares merger approved the allegheny board which remaining common preference and preferred shares would acquired the tender prices follow the offer receipt the minimum amounts under the offer would give first boston sufficient voting power assure approval the merger without the affirmative vote any other shareholder the company said reuter 
ship	court puts injunction dutch port redundancies employers rotterdam port strike hit general cargo sector have been served with injunction until may preventing them from continuing with plans for redundancies this year employers organisation spokesman said amsterdam court yesterday ruled there had been legal fault the employers redundancy procedure the employers spokesman said they were likely restart the redundancy procedure afresh next week attempt pre empt the may final court ruling port and transport union representative paul rosenmuller described the court ruling victory for the union but added there was still long way before the dispute that has hit the general cargo sector for the past eight weeks was resolved rosenmuller said there would meeting the sector workers this afternoon decide further action the campaign lightning strikes that began january protest planned redundancies starting with this year the employers said there were immediate plans for meetings with the union either the proposed redundancies new work practice agreement the sector meanwhile discussions new work agreement the port grain sector due resume next week are stalemated although agreement could close the coal and ore sector the employers spokesman added reuter 
ship	strike close new zealand ports monday harbour workers said they will strike for hours monday effectively closing all new zealand ports the strike over deadlocked wage negotiations harbour employees workers union spokesman told reporters there will ship movements and out ports from midnight sunday hrs gmt march there will loading unloading involving harbour board workers and the cook strait ferries which provide vital link between new zealand north and south islands will not run added reuter 
ship	two brazilian shipping firms settle with strikers two small shipping companies reached pay deal with striking seamen late yesterday but union leaders said most brazil seamen were still strike union spokesman rio janeiro said the seamen had accepted pct pay raise offer from the companies globo and flumar which have less than employees each the two week strike comes brazil faces debt crisis and delaying exports badly needed earn foreign exchange labour minister almir pazzionotto said the government will not force settlement the strike which was ruled illegal last friday reuter 
crude	weather closes alexandria port sumed oil terminal strong winds and high seas forced the closure egypt main port alexandria and nearby oil terminal port officials said tanker loading the suez mediterranean arab petroleum pipelines sedi kerir southwest here stopped and officials said five tankers were anchorage awaiting improved weather reuter 
earn	first farwest corp ffws qtr loss shr loss dlrs profit nil net loss profit revs mln mln year shr loss dlrs profit dlrs net loss profit revs mln mln note net both periods includes dlr loss from discontinued operations due settlement lawsuit and redemption preferred reuter 
earn	hemotec inc hemo qtr net shr one two cts net sales year shr four cts cts net sales note net includes tax credits dlrs dlrs quarter and credit dlrs provision dlrs year reuter 
acq	service control bids for american service service control corp said has started tender offer for all shares american service corp dlrs each newspaper advertisement the company said the offer and withdrawal rights expire april nine unless extended the american service board has approved the offer which followed merger the same price service control said the offer conditioned receipt least shares said holders shares have agreed tender their shares under the offer and have granted service control option buy them dlrs each reuter 
earn	dreyer grand dryr restates rth quarter loss dreyer grand ice cream said has restated its previously reported fourth quarter loss dlrs cts per share because has now decided take charge about dlrs provide for losses midwest distributing which was acquired december dreyer said the restatement reduces net income for the full year dlrs cts per share the company said the restatement does not indicate any change its thinking the benefits the acquisition future prospects midwest distributing markets dreyer grand previously reported earnings dlrs cts per share down from dlrs dlrs share for the first nine months the year had earned dlrs cts per share from dlrs cts share year before reuter 
earn	turbo resources ltd year net oper shr nine cts three cts oper shr diluted eight cts three cts oper net mln five mln revs mln mln note oper net excludes extraordinary income seven mln dlrs four mln tax loss carryforward offset writedowns three mln dlrs eight mln oil and gas properties and other assets reuter 
earn	has comment seat loss reports volkswagen vowg spokesman said the group had immediate comment reports greater than expected losses its spanish subsidiary sociedad espanola automoviles turismo seat german newspapers reported that werner schmidt seat supervisory board chairman had told journalists that seat losses for were around billion pesetas about mln marks almost double original expectations according the boersen zeitung newspaper schmidt said would invest billion pesetas seat this year and the years would spend billion its new spanish unit reuter 
acq	beneficial corp sell western national life for mln dlrs 
earn	general mills inc qtr shr cts cts 
acq	caesars world inc said board rejects martin sosnoff tender 
interest	top discount rate bill tender falls pct 
earn	mdi mobile data international inc year net oper shr cts cts oper shr diluted cts cts oper net revs mln mln note current oper net excludes writedown dlrs seven cts share unidentified investment reuter 
money-fx	money market deficit revised one billion stg the bank england said has revised its estimate today shortfall one billion stg before taking account mln stg morning assistance reuter 
acq	caesars world caw rejects sosnoff offer caesars world inc said its board unanimously rejected dlr share takeover offer new york investor martin sosnoff caesars said sosnoff offer all its outstanding shares common stock was inadequate and not the best interests its shareholders the company recommended that shareholders reject sosnoff offer made through his mts acquisition corp and not tender any their shares caesars said will explore variety alternative transactions but did not elaborate caesars brief statement did not say whether would seek buy back its shares held sosnoff caesars spokesman said the company would not comment further its decision wednesday sosnoff told the securities and exchange commission that controls pct the company stock sosnoff also informed the sec that caesars had offered buyout his holdings several times during the past year one from the sosnoff organization was immediately available for comment caesars said its financial advisor drexel burnham lambert inc had determined that sosnoff offer was financially inadequate for shareholders other than sosnoff the company said other factors considered rejecting the offer were its financial condition future prospects current market conditions and the numerous conditions which sosnoff bid was conditioned caesars stock opened point that point above sosnoff offer price reuter 
earn	esselte esb results group profit after net interest items mln crowns mln sales billion crowns billion estimated profit per share crowns proposed dividend four crowns reuter 
acq	conseco cnc buy beneficial bnl unit conseco inc said has signed definitive agreement acquire western national life insurance from beneficial corp for mln dlrs cash western national had assets billion dlrs the end and premium and investment revenues western issues structured settlement annuities for the settlement personal injury and damage claims and sells tax sheltered annuities the acquisition subject regulatory approval conseco said the acquisition would raise its assets billion dlrs and annual revenues about mln dlrs beneficial had previously announced plans leave the insurance business march three said agreed principle sell its american centennial insurance beneficial international insurance consolidated marine and general insurance ltd consolidated life assurance ltd wesco insurance and service general insurance subsidiaries management led group for mln dlrs notes mostly contingent performance the units and mln dlrs cash conseco had operating earnings dlrs revenues mln dlrs reuter 
earn	great american bancorp grtb qtr net shr profit seven cts loss cts net profit loss mths shrs loss dlrs loss cts net loss loss assets mln mln deposits mln mln loans mln mln reuter 
earn	koninklijke nederlandse papierfabrieken knpn net profit mln guilders mln turnover billion guilders same earnings per share guilders capital expanded pct mln outstanding shares proposed dividend per share guilders note full company name koninklijke nederlandse papierfabrieken reuter 
earn	general mills inc gis qtr feb net shr cts cts net sales billion billion avg shrs mln mln nine mths shr dlrs dlrs net sales billion billion avg shrs mln mln note period ended february prior year amounts restated reflect discontinued furniture operations earnings include gains from discontinued operations mln dlrs two cts share the quarter and gains mln dlrs cts share the fiscal nine months mln dlrs four cts share year earlier reuter 
earn	novell novl sets payment date for stock split novell inc said the dividend effect its previously announced two for one stock split will distributed april stated the time the original announcement the company said the payment will made holders record march reuter 
earn	nortek inc ntk sets quarterlies qtly div common cts cts prior qtly div special common one one pay may eight record april three reuter 
ship	dutch port union calls off general cargo strikes dutch port and transport union fnv has called off the strikes against planned redundancies that have hit rotterdam port general cargo sector for the past eight weeks strike leader paul rosenmuller told mass meeting the decision followed yesterday ruling amsterdam court preventing the sector employers continuing with current plans for redundancies this year until the court sits again may rosenmuller told meeting the general cargo sector workers today the court ruled the employers had made mistake the complicated legal procedure for obtaining official permission for the redundancies and therefore could not proceed there need continue the strikes for the moment now the immediate pressure redundancies has been lifted rosenmuller said but added that the strikes which began january protest against plans for redundancies could resume any time before may the employers made any moves apply for permission for the redundancies svz labour relations manager gerrard zeebregts said they would meeting their lawyers today with view applying for this permission next week the hope gaining approval for the redundancies within month reuter 
earn	nova alberta corp qtr shr loss cts loss dlrs 
earn	healthco international inc hlco qtr net oper shr cts cts oper shr diluted cts cts oper net revs mln mln avg shrs avg shrs diluted year oper shr dlrs dlrs oper shr diluted dlrs dlrs oper net mln revs mln mln avg shrs avg shrs diluted note net both periods excludes charge dlrs from distribution system restructuring costs year net excludes dlr debt retirement gain and gain mln dlrs from sale hpsc inc hpsc stock net both periods includes charge dlrs from reversal investment tax credits reuter 
earn	wilfred american educational corp wae qtr shr two cts cts net revs mln mln year shr cts cts net revs mln mln note net both periods includes gain dlrs from cancellation debt quarter net includes reversal dlrs investment tax credits reuter 
earn	laboratories inc bmd qtr net shr cts cts net revs mln mln mths shr cts cts net revs mln mln note net for qtr and and adjusted reflect retroactive effect three for two stock splits distributed shareholders july and august net includes results operations parmed pharmaceuticals inc acquired may reuter 
earn	med inc nums qtr jan net shr cts cts net revs mln mln avg shrs mln nine mths shr cts cts net revs mln mln avg shrs mln current year net both periods includes gain dlrs from change inestimation useful lives used depreciation property and equipment reuter 
earn	alusuisse plans pct capital cut schweizerische aluminium alusuisse plans reduce share and participation certificate capital pct cover losses and those carried forward from the previous year chief executive hans jucker said jucker told news conference that the greatest drain its financial resources had been stopped but after extraordinary charges the net loss mln francs was only slightly under the mln loss the previous year the losses and those carried over from made necessary reduce capital pct said however jucker said the company improved liquidity through recovery cash flow and conversion mln swiss francs credit into subordinated loan trading alusuisse shares was suspended the zurich stock exchange after today announcement the company that would cut its share capital pct the bourse said trading would resume again monday reuter 
earn	davis water dwws releases pre split earnings davis water and waste industries inc said has restated its earnings pre stock split basis for fiscal third quarter and nine months ended january which were reported march post four for three stock split basis the company said its earnings per share for the third quarter pre split basis converts cts from cts post split versus three cts pre split from two cts post split for fiscal third quarter for the nine months davis said earnings per share would convert cts and cts for fiscal and respectively from cts and cts respectively reuter 
earn	nova alberta corp qtr loss shr loss cts loss dlrs net loss mln loss mln revs mln mln year shr profit cts loss dlrs net profit mln loss mln revs billion billion avg shrs mln mln reuter 
acq	elder beerman eldr gets offer dlrs share elder beerman stores corp said owners about pct its stock have offered take the company private offerring dlrs per share for the remaining pct its stock the company said the proposal will considered regularly scheduled board meeting march said the offer was made members the beerman family holding about pct the company stock chairman max gutmann and certain members the board reuter 
earn	echlin inc ech dividend increased pct qtly div cts cts prior qtr payable april record april two reuter 
earn	national entertainment corp nent qtr net jan end shr six cts eight cts net revs nine mths shr cts eight cts net revs note prior year net both periods includes dlr tax credit reuter 
earn	national entertainment nent reverse split set national entertainment corp said shareholdersapproved one for reverse stock split and name change major video corp both effective march said its new ticker symbol will majv the company also said expects add nine company owned and franchised major video stores the next days now operates reuter 
earn	pembina resources ltd year net shr cts cts net revs mln mln reuter 
acq	computer memories cmin sets film firm merger computer memories inc which ended its disk drive operations june agreed acquire hemdale film corp transaction which will give hemdale owner control the resulting company computer memories principal asset about mln dlrs cash and cash equivalents has agreed exchange newly issued shares equaling pct the aggregate issued acquire hemdale that company owner john daly would then become chief executive officer the combined company which would renamed hemdale film corp computer memories said the proposed transaction subject the results certain corporate reviews and approval its shareholders who will hold special meeting soon practicable the company said has shares outstanding which about are held intel corp intc anticipated the fintel shares will purchased for dlrs share connection with the merger with hemdale computer memories said reuter 
acq	klm seeks stake british courier service klm royal dutch airlines klm said negotiating for minority stake british and commonwealth shipping plc bcom courier service transaction which might include convertible loan issue klm already active the fast growing door door delivery market through pct stake dutch courier service seeking buy one third iml air services group ltd from british and commonwealth the two companies agreed earlier this month for klm take pct stake british and commonwealth commuter airline air ltd deal worth around two mln stg reuter 
money-fx	economic spotlight ems marks eighth birthday the european monetary system marks its eighth anniversary still vulnerable turmoil world money markets despite creating island currency rate stability europe economists say but many economists say the system which holds eight european community currencies within narrow fluctuation bands remains its infancy its new currency the european currency unit ecu has been runaway success with investors and borrowers alike seeking alternative the volatile dollar and wednesday the long term vision the ecu europe common currency took step nearer becoming reality when belgium minted the world first ecu coin but economists say members such west germany have far blocked second stage development envisaged the system founding fathers west german chancellor helmut schmidt and former french president valery giscard estaing under this phase originally due have started two years after the ems was set decision making was have been transferred from national governments and central banks autonomous european monetary fund but members have jealously guarded their sovereignty economic and monetary matters the basic problem the ems that governments are not prepared make the quantum leap situation where certain decisions are taken common said one economist who has closely watched the system development the result that the often divided over policy third currencies accentuating what the economists say the system greatest weakness its vulnerability weak dollar over the past months the dollar plunged and investors moved into strong currencies the resulting sharp rise the west german mark severely strained the system more the mark soared against the dollar also rose against ems currencies less favoured international investors and west germany last year refused give pressure from several partners and the united states cut interest rates slow the mark rise the ems had realigned twice ease financial and trade strains within the community two months ago the mark and the dutch guilder were revalued three pct and the belgian and luxembourg francs two pct against other currencies the system the french franc italian lira the irish punt and danish crown another frustration has been britain failure lend the ems political support keeping the pound still major world currency outside the system change the british government attitude expected before the country next general elections due mid meanwhile the system last realignment the since was set prompted european finance ministers ask the highly secretive monetary committee and committee central bank governors come with suggestions for reinforcing their ideas are due unveiled when finance ministers hold informal meeting belgium early next month but economists said the proposals are unlikely involve more than tinkering with technical details they are sceptical about the chances for any fundamental change technical measures won enough protect the ems against external factors such dollar weakness for that must take the step forward the institutional level said leo corel kredietbank economic research department economists say the system fortunes now will depend largely the success agreement last month among major industrial nations stabilise exchange rates the dollar resumes its slide the ems could for more turbulence they predict reuter 
earn	general mills gis sees strong qtr results general mills inc reporting stronger results for the third quarter ended february said expects the momentum continue the fourth quarter the company said expects report strong earnings per share growth and record return equity fiscal said this should achieved despite expected non operating charges the final quarter general mills said these charges will likely offset non operating gains which included six cts share the first half general mills said the end the third quarter its return average equity was pct said major factors contributing the third quarter improvement were pct gain unit volume consumer foods continuing good profit growth red lobster usa and strong performance specialty retailing the company reported quarterly earnings mln dlrs cts share from mln dlrs cts share year ago sales rose billion dlrs from billion dlrs year ago data reflect two for one common stock split reuter 
acq	packaging systems paks buy label firm packaging systems corp said agreed acquire walter richter labels inc privately held maker woven labels based paterson terms the acquisition which expected completed within days were not disclosed reuter 
earn	manufactured homes inc mnh year net shr cts cts net revs mln mln note net includes dlr provision for credit loss net includes charge dlrs from cumulative effect accounting change reuter 
acq	holiday corp hia comsat close sale holiday corp and communications satellite corp said they closed the previously announced sale comsat holiday pct interest net communications their joint venture that provides room video entertainment hotels satellite under terms the deal comsat paid holiday mln dlrs cash and assumed half the venture mln dlrs outstanding debt the company said net they added will continue provide programming holiday hotels reuter 
earn	consumers financial corp cfin net shr cts cts net rev mln mln note net includes investment gains cts share versus six cts share for and extraordinary gain seven cts share reuter 
earn	chicago rivet and machine cvr qtr net shr cts cts net sales year shr dlrs dlrs net sales mln mln reuter 
earn	filtertek inc ftk sets quarterly qtly div cts cts prior pay may record may one reuter 
earn	transact int inc tact qtr jan net shr one three cts net rev mln mln nine months shr two cts four cts net rev mln mln note nine months period includes gain dlrs from sale meston lake resources shares and credit dlrs from favroable settlement state income tax assessment nine months period includes gain dlrs two cts share from sale ferrotherm reuter 
money-fx	france repays some currency intervention debt france today repaid billion francs short term currency intervention debt the european monetary cooperation fund emcf the finance ministry said said the debt was part billion franc liability incurred through the activation emcf swap facilities defend the franc before the january european monetary system realignment the realignment following several weeks speculative pressure produced three pct revaluation the west german mark and the dutch guilder against the french franc and two pct revaluation the belgian franc reuter 
crude	shell canada raises crude prices canadian cts bbl today edmonton 
ship	correction two brazil shipping firms settle today sao paulo story headlined two brazilian shipping firms settle with strikers please read second para offer from the companies global and flumar instead offer from the companies globo and flumar corrects name first company reuter 
trade	german bank sees good soviet trade prospects soviet west german trade expected develop favourably due moscow increasing openness east west economic relations dresdner bank moscow representative michael stein said told bank presentation the soviet union was last year hit the fall world oil prices which cut export revenue from oil related products and natural gas and its overseas buying power was also adversely affected the lower dollar dresdner bank economist alfred apholte said the soviet union large currency and gold reserves had softened the impact the dollar weakening and oil price drop reuter 
acq	national pizza piza acquire restaurants national pizza said reached agreement principle buy seven straw hat pizza restaurants and certain related real estate for approximately three mln dlrs cash the acquisitions will converted pizza hut restaurants said national pizza and are expected generate annual sales approximately eight mln dlrs when the sale complete will bring the number restaurants operated national pizza the company said reuter 
earn	citicorp says placing brazil loans cash basis could cut qtr net mln dlrs 
ship	singapore spend billion dlrs ports the port singapore authority psa will spend billion dlrs develop port facilities and cargo handling equipment over the next five years communications minister yeo ning hong told parliament yeo said the improvements were needed cope with expected growth ship tonnage and cargo handled the port but gave further details the psa handled mln gross registered tonnes cargo according the latest available statistics from the port authority reuter 
crude	ors seeks canadian funds for heavy oil test ors corp said dominion securities alberta inc has been appointed offer common shares new canadaina company being organized exploit heavy oil production opportunities canada and western europe ors said the offer for private sale the stock being made best efforts basis designed raise five mln canadian dlrs which the new company will invest properties and projects using the electromagnetic well stimulation process developed iit research institute under sponsorship ors reuter 
acq	chrysler unit buys beneficial bnl unit chrysler corp said its chrysler first inc acquired major portion the commercial lending portfolio beneficial business credit corp subsidiary beneficial corp said the acquisition involves about mln dlrs net receivables chrysler first subsidiary chrysler financial corp had receivables billion dlrs the end reuter 
crude	petrobras asks army withdraw troops brazil state oil company petrobras has asked the army withdraw the troops which were occupying its oil installations since tuesday petrobras said statement the statement said the request for the withdrawal the troops was made because the calmness reigning all its refineries the request was also due the end the seamen strike and the willingness the oil industry workers sit again the negotiating table the statement said even though the petrobras statement said the seamen strike was over union spokesman said only two small shipping companies had reached pay agreement the overwhelming majority brazil seamen remained strike the statement said meeting between petrobras and oil industry leaders was set for next wednesday rio with the presence labour minister almir pazzionotto mediator petrobras said the request for the withdrawal the troops was made local hours gmt but company spokesman said did not know the troops had already been removed reuter 
interest	italian interbank rate rises february italy average interbank rate rose provisional pct february from pct january figures from the bank italy show weighted average rate bank lending was provisional pct february compared with january while average weighted rate paid deposits eased provisional pct from pct italy today announced that its official discount rate would cut pct from pct effective tomorrow reuter 
acq	paint company has metex mtx stake may buy more metropolitan consolidated industries inc new york paint company said has acquired shares metex corp pct the total and left open the possibility that might acquire more through merger filing with the securities and exchange commission metropolitan said bought the metex stock investment also said may buy additional shares sell some all its current stake buys more shares metropolitan said would consider doing the open market private deals through exchange offer tender offer merger metropolitan said may acquire option may buy some all the metex shares owned william hack metex director who together with this wife holds the company common shares pct the total metropolitan said already has option buy another metex common shares dlrs each the option not exercisable until april said metropolitan were exercise the option and acquire all hack stake would have metex common shares pct the total metropolitan sec filing was made shareholder group with hack metropolitan which said spent mln dlrs acquire its metex stake listed its recent stock purchases common shares march dlrs each and shares march dlrs reuter 
acq	bpi systems bpii talks sell company bpi systems inc said holding discussions that could lead the sale all its outstanding shares for about mln dlrs bpi president and chief executive officer david fernald declined identify the other party involved the talks for the nine months ended december bpi lost dlrs sales dlrs reuter 
acq	bally manufacturing said considering sale six flags theme parks 
acq	telemedia buy harrowsmith equinox magazines telemedia inc said its telemedia publishing inc subsidiary agreed buy privately owned harrowsmith and equinox magazines for undisclosed amount cash telemedia said the acquisition expected have small positive impact short term earnings harrowsmith alternative life style magazine canada seventh largest paid circulation english language magazine while equinox the country eighth largest each has circulation about copies the magazine group had revenues eight mln dlrs last year and employs people telemedia said telemedia said will also acquire pct interest the company which recently launched the edition harrowsmith the magazine editiion begun last year now has paid circulation the company said said final deal expected mid april telemedia said the magazines founder has agreed continue provide editorial and publishing direction for the magazines reuter 
earn	divi hotels dvh qtr net shr profit cts profit cts net profit profit revs mln mln nine mths shr loss cts loss cts net loss loss revs mln mln note nine months fiscal includes extraordinary gain cts per share reuter 
acq	bally bly considering sale six flags bally manufacturing corp said considering the sale its six flag theme amusement park unit and would use the proceeds pay off debt addition the possible sale the amusement parks bally plans sell minority stake its health club chain the public the company will register proposed offering with the securities and exchange commission for pct the health clubs soon spokesman william peltier told reuters selling six flags definitely under consideration peltier said response inquiry said the company would use much the income from the amusement park chain were sold repay debt six flags might sell for much mln dlrs analysts said the health club chain the nation largest valued mln dlrs they said bally reportedly already has been approached about six flags several prospective buyers the company needs the cash begin paying back mln dlrs mountain debt bally recently completed mln dlrs acquisition the golden nugget casino hotel atlantic city from golden nugget inc gng the purchase pushed its long term debt billion dlrs almost times its equity mln dlrs bally unit health and tennis clubs had revenues more than mln dlrs about pct bally total revenues billion dlrs bally acquired six flags for mln dlrs january from penn central corp bally bought the great america theme park gurnee ill may for mln dlrs from marriott corp mhs the parks had pretax operating profit mln dlrs revenues mln dlrs the clubs and equipment unit combined post operating profit mln dlrs revenues mln dlrs which mln came from the clubs the company earlier this month said will take charge earnings the first quarter mln dlrs result its deal buy back mln its common shares from real estate developer donald trump under february deal bally agreed buy the mln the mln shares held trump dlrs share mln dlrs plus mln dlrs related expenses exchange for trump not seeking control the company for years the deal also requires bally buy trump remaining shares for dlrs share the stock price does not reach that level february reuter 
acq	franklin resources ben says net may double franklin resources inc said believes earnings could double this year compared year ago when the company reported income mln dlrs mln dlrs revenues franklin resources financial services company its fiscal year ends september reuter 
earn	helmerich and payne inc increases div qtly div cts nine cts payable june one record may reuter 
earn	holly corp hoc qtr jan loss shr loss cts profit cts net loss profit revs mln mln six mths shr loss cts profit cts net loss profit mln revs mln mln note six months fiscal includes loss cts per share from discontinued operations per share figures also reflect partial three for one stock split effected december reuter 
trade	white house says trade bill generally good white house spokesman marlin fitzwater said the administration had some disagreements with the trade bill that cleared house subcommittee yesterday but generally felt good about the bill generally feel very good about the bipartisan consideration the trade legislation think are progressing very well told reporters there are wide areas agreement there are some areas disagreement said reuter 
acq	sunter acquisition begins tender for allegheny international inc 
acq	irish oil concern boosts cenergy crg stake bryson oil and gas plc belfast northern ireland oil company which has said considering seeking control cenergy corp said raised its stake the company shares pct the total filing with the securities and exchange commission bryson said bought cenergy common shares march eight dlrs each previously had held shares pct bryson has request detailed shareholder information from cenergy case decided communicate with shareholders but said cenergy has made legal challenges the request reuter 
acq	sunter begins tender for allegheny allegheny international inc said sunter acquisititon corp formed first boston inc began cash tender offer accordance with their previously announced merger agreement for all the outsanding shares allegheny common stock dlr cumulative preference stock and dlrs convertible preferred stock the offer expires april unless extended under terms the agreement tendering shareholders will receive dlrs per common share dlrs per preference share and dlrs per preferred share allegheny said the offer conditioned upon the valid tender stock representing majority the voting power and least two thirds outstanding shares preference stock and preferred stock the merger agreement was announced earlier this week reuter 
earn	transit financial holdings inc qtr net shr cts cts net revs not given year shr cts cts net revs reuter 
earn	sporting life inc splf qtr jan net oper shr loss six cts profit four cts oper net loss profit revs half oper shr profit six cts profit cts oper net profit profit revs note prior year net excludes extraordinary credits dlrs quarter and dlrs half current quarter net includes dlr tax credit reuter 
acq	investment firms cut cyclops cyl stake group affiliated new york investment firms said they lowered their stake cyclops corp shares pct the total outstanding from shares pct filing with the securities and exchange commission the group led mutual shares corp said sold cyclops common shares since february reuter 
earn	argyll energy corp year loss shr loss dlrs profit cts net loss profit revs note shr and net after dlr writedown property and other assets reuter 
earn	transit financial sees share profit rise transit financial holdings inc earlier reporting higher fourth quarter and full year earnings said expects share profit increase dlrs from cts the company said the share forecast based mln shares outstanding after one mln common share issue december its and earnings were based mln shares outstanding the company earlier reported profit rose dlrs cts shares from year earlier dlrs cts share reuter 
interest	san paolo torino cuts prime rate pct from pct official 
earn	holly corp hoc qtr jan loss shr loss cts profit cts net loss profit revs mln mln avg shrs half oper shr four cts cts oper net revs mln mln avg shrs note current half net excludes dlr loss from discontinued oil and natural gas operations share adjusted for three for one stock split and recapitalization december prior year net both periods includes pretax charge dlrs from recapitalization costs reuter 
acq	cyclops cyl will not give data group cyclops corp said its board rejected request cyacq corp investor group for more non public information about cyclops maker specialty steels and electronics retailer cyclops cited its agreement acquired britain dixons group plc for dlrs share under tender offer that expires midnight march cyacq comprising audio video affiliates inc citicorp capital investors ltd and other investors yesterday said would increase its tender offer for cyclops dlrs share from dlrs subject certain conditions the conditions were that cyclops provide cyacq with non public data given dixons and that cyacq satisfied with financial projections made dixons its offer cyclops also said its board determined that cyacq announcement was not offer cyacq press release does not amend cyacq outstanding tender offer which remains dlrs per share and does not state that cyacq has financing commitments necessary carry out its original offer any increased offer that may make cyclops said statement its agreements with dixons are binding and dixons indicated will not rescind waive any provisions the pacts cyclops said the company also said was advised that dixons shareholders approved the merger satisfying that condition the agreement reuter 
earn	san juan racing association inc sjr qtr shr cts cts net revs mln mln nine months shr cts cts net mln mln revs mln mln note qtr and nine months include extraordainry gain dlrs and dlrs respectively sale land reuter 
acq	edelman cuts lucky stores lks stake pct group led new york investor asher edelman said lowered its stake lucky stores inc lks shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission the edelman group said sold lucky stores common shares march and prices ranging from dlrs share long edelman stake below five pct not required report his dealings lucky stores stock reuter 
acq	interconnect prefers friendly gates glj offer interconnect capital said seeks acquire gates learjet corp friendly terms late yesterday the company said has offered dlrs per share for all gates learjet shares interconnect capital said intends purchase the gates corp loan gates learjet for mln dlrs should its bid successful interconnect capital controlled interconnect inc gates corp owns pct gates learjet reuter 
earn	infinite graphics inc infg qtr jan net shr profit two cts loss cts net profit loss sales nine mths shr profit eight cts loss cts net profit loss sales reuter 
acq	mindscape buys harcourt brace hbj unit mindscsape inc said agreed buy the educational software unit holt rinehart and winston inc subsidiary harcourt brace jovanovich inc for undisclosed terms sales the division which had been purchased holt rinehart from cbs peaked about mln dlrs mindscape said reuter 
earn	health mor inc hmi sets dividend qtly dividend cts cts pay april record march reuter 
acq	caesars world says considers restructuring and sale other company 
earn	fairchild industries inc qtr oper shr loss cts loss eight cts 
acq	arco sells two agricultural research operations atlantic richfield said sold its plan cell research institute unit and its arco seed operations two transactions for undisclosed prices the company said sold dublin calif based plant cell research montedision spa milan italy and arco seed genetics hollister calif atlantic richfield said the divestitures are line with its policy focusing resources oil gas chemical and coal operations reuter 
acq	caesars world caw says mulls restructuring caesars world inc rejecting dlr share takeover bid new york investor martin sosnoff said considering alternatives that include restructuring the company and the sale someone else filing with the securities and exchange commission caesars world said its board decided special meeting yesterday explore and investigate several alternatives effort thwart sosnoff takeover attempt more 
acq	chemlawn chem seeks bids march chemlawn corp said has asked potential purchasers the company submit their proposals est march chemlawn said waste management inc wmx intends participate the bidding process will have submit confidentiality agreement chemlawn financial advisor smith barney harris upham and inc waste management has dlr per share tender offer for chemlawn underway that chemlawn has already rejected inadequate chemlawn has already said holding talks with various parties the sale the company and said has informed all potential purchasers that they mnust sign confidentiality agreemnents receive confidential information chemlawn chemlawn said waste management were sign such agreement chemlawn would supply with the same information being supplied other potential purchasers but said will not make exception for waste management which would give that company advantage the bidding process reuter 
earn	gts corp gtsc qtr dec loss shr loss cts loss cts net loss loss revs year shr loss dlrs loss cts net loss loss revs note net both periods includes dlr writedown value seismic laboratory and dlr increase reserve for doubtful accounts reuter 
earn	fairchild industries inc fen qtr loss oper shr loss cts oper loss eight cts oper net loss profit rev mln mln year oper shr loss cts loss cts oper net profit loss rev mln mln note per share results after provision for pfd dividends fourth qtr earnings exclude loss from discontinued operations mln dlrs dlrs share and loss mln dlrs dlrs share from tax reverse versus gain from discontinued operations mln dlrs cts share qtr oper earnings excludes loss from discontinued operations mln dlrs dlrs share versus loss mln dlrs dlrs share reuter 
acq	smartnames buy american information network smartnames inc said reached agreement principle buy american information network terms the agreement were not disclosed the company said the purchase american will allow meet the needs broader range direct mail industry customers reuter 
acq	arco acr sells two operations atlantic richfield said sold its plan cell research institute unit and its arco seed operations two transactions for undisclosed prices the company said sold dublin calif based plant cell research montedision spa milan italy and arco seed genetics hollister calif atlantic richfield said the divestitures are line with its policy focusing resources oil gas chemical and coal operations reuter 
crude	ecuador begins work oil pipeline colombia construction workers today began building mile pipeline link ecuador jungle oilfields pipeline colombia through which ecuadorean crude could pumped the pacific coast ecuadorean energy minsitry officials said they said would take about two months and least mln dlrs build the pipeline from lago agrio ecuador puerto colon colombia for connection the colombian pipeline which goes the port tumaco colombia pacific ocean coast the lago agrio puerto colon pipeline designed transport between barrels day bpd ecuadorean crude the colombian pipeline they said the colombian pipeline tumaco has ample room for ecuadorean crude they said currently transporting about bpd out its bpd capacity ecuadorean energy ministry official said the ecuadorean crude reaching tumaco will shipped boat ecuador for refining into oil products meet domestic demand the completion the pipeline would allow ecuador resume some production paralysed since march six earthquake the night before the tremor ruptured the country main pipeline from jungle oilfields the ecuadorean port balao the pacific ocean ecuador was pumping about bpd before the earthquake would take about five months repair the pipeline balao government officials said ecuador estimates that will cost between mln dlrs repair oil installations damaged the earthquake energy ministry javier espinosa said reuter 
trade	dutch trade fully balance but down january the netherlands recorded flat trade balance january with both exports and imports totaling billion guilders modestly lower compared with december but sharply down from january last year economics ministry spokesman said quoting official statistics january exports compared with december figure billion guilders and were pct below last year level billion january imports compared with billion guilders december and fell pct from billion january last year reuter 
earn	desoto inc dso regular dividend set qtly div cts cts previously pay april record march reuter 
earn	methode electronics inc methb regular payout qtly div class cts cts prior class two cts two cts prior pay april record april reuter 
earn	general cinema corp gcn common stock dividend qtly div cts cts prior pay april recrod april nine reuter 
earn	stephan ftc year net shr cts cts net revs reuter 
acq	plm plma unit ends merger talks plm cos inc said its plm power unit broke off merger discussions with sunlaw energy corp beverly hills calif january plm power entered into letter intent negotiate potential acquisition sunlaw subject substantial due diligence the company said but also said the two companies were not able agree mutually satisfactory final terms and conditions reuter 
earn	met pro corp mpr pay regular dividend qtrly cts cts prior pay may eight record april reuter 
earn	aileen inc aee qtr jan loss shr loss cts loss cts net loss loss revs mln reuter 
earn	wolverine world wide inc www qtr loss shr loss six cts profit cts net loss profit sales mln mln year shr loss dlrs profit cts net loss profit sales mln mln note year results include mln dlr restructuring charge qtr reuter 
earn	hurco companies inc hurc first qtr net shr profit three cts loss cts net profit loss rev mln mln avg shares reuter 
acq	maxtor mxtr agrees acquire design maxtor corp and design corp usdc said they reached definitive agreement covering the acquisition design maxtor they said the arrangement which subject number conditions including design shareholder approval calls for maxtor issue mln dlrs worth its own common stock exchange for all design the number maxtor shares issued will determined the average closing price maxtor stock over the trading day period prior the day the acquisition becomes effective the companies also said reuter 
earn	shared medical systems corp smed sets payout qtly div cts cts prior pay april record march reuter 
earn	weigh tronix inc wght qtr net shr cts cts net sales year shr cts cts net sales mln mln avg shrs reuter 
earn	monarch avalon inc mahi qtr jan loss shr loss cts profit four cts net loss profit rev mln mln nine months shr loss cts profit cts net loss profit rev mln mln note per share information adjusted for three for two stock split january reuter 
earn	bnl announces net profits bank sector state owned banca nazionale del lavoro bnl said profits for its banking activities equalled billion lire against billion lire consolidated results for bnl which also has interests tourism public works industrial credit and other sectors are expected announced later this year the results for the banking sector are presented shareholders meeting scheduled for april reuter 
earn	applied dna systems inc adna qtr loss shr loss one nil net loss loss revs avg shrs year shr loss three cts loss six cts net loss revs note amounts include losses pct owned scientific development affiliate analytical biosystems corp reuter 
acq	oilman has pct qed exploration qedx kansas oilman nicholas powell told the securities and exchange commission has acquired shares qed exploration inc pct the total outstanding common stock powell who heads prairie resources corp and mack colt inc both kansas oil and gas exploration companies said bought the stock for investment purposes powell who said has already spent dlrs his qed stock said plans buy more shares long considers them undervalued reuter 
earn	john labatt ltd qtr shr diluted cts cts 
earn	lifestyle restaurants inc lif qtr jan shr loss cts loss eight cts net loss loss revs mln mln note current qtr loss included gain dlrs and dlrs from the sale restaurant leases reuter 
earn	sierra health services inc sie qtr loss shr loss cts profit six cts net loss profit revs mln mln year shr loss dlrs profit cts net loss profit revs mln mln reuter 
earn	firecom inc frcm qtr jan loss shr loss two cts profit two cts net loss profit sales nine mths shr loss one cent profit four cts net loss profit sales reuter 
earn	wheeling and lake erie railway wle div qtly div dlrs dlrs pay may record april note dividend paid all shareholders other than norfolk southern corp nsc norfolk and western railway reuter 
earn	general cinema corp gcn class dividend qtly div class cts cts pay april record april reuter 
earn	john labatt ltd qtr jan net shr cts cts shr diluted cts cts net revs billion mln nine mths shr dlrs dlrs shr diluted dlrs dlrs net revs billion billion avg shrs mln mln reuter 
trade	trade bill change agriculture trade laws the house ways and means committee moving toward passage trade bill that sponsors said was intended help open foreign markets agricultural goods and modify some agricultural trade laws the trade subcommittee voted require president reagan take into account the potential harm agricultural exports any trade retaliation might impose for foreign unfair trade practices against other domestic industries the bill would allow agricultural producers seek government monitoring imports there reasonable chance the industry would harmed import surge the full ways and means committee consider the bill next week and congressional sources said they expect will approved investigations involving processed agricultural product trade associations processors producers would have petition for relief from foreign dumping unfair duties the bill sets out trade negotiating objectives for the uruguay round talks under the general agreement tariffs and trade would seek fair trade agriculture seek discipline restrictive trade distorting import and export practices eliminate tariffs subsidies quotas and non tariff barriers president reagan authority negotiate new gatt agreement would extended through january and authority negotiate free trade zone with canada would extended through january the bill extends reagan authority negotiate international coffee agreement through october allows refund import duties paid raw sugar imported from november march for production sugar products containing sugar and destined for export the export the sugar products must occur before octoer presently qualify for the refund the sugar must processed within three years after import and exported within five years agriculture would also benefit from more rapid decisions complaints unfair foreign trade practices injury from imports reuter 
earn	american city ambj sets initial preferred div american city business journals inc said declared initial dividend cts share its recent issue mln shares convertible exchangeable preferred stock the dividend payable march shareholders record march american city said adding that future dividends will paid quarterly basis the preferred stock was issued february reuter 
earn	weyerhaeuser said sees significant increases earnings 
earn	varity expects report qtr and full year loss 
money-fx	after round one goes central banks central banks have easily beaten back the foreign exchange market first test the industrialized nations recent pact stabilize currencies analysts said active trading this week the market pushed the dollar sterling the canadian dollar and australian dollar higher but operators got their fingers burned one one the central banks signalled their displeasure far has been roaring success said james neill financial markets economist marine midland bank the central banks are sending strong signals that they won tolerate any kind momentum building behind currencies added senior corporate trader one bank february the finance ministers and central bank governors the japan west germany france and the the group five plus canada signed accord under which they agreed cooperate closely foster stability exchange rates around prevailing levels the agreement was viewed many the market attempt put floor under the dollar after its sizeable two year decline against major world currencies and initially traders indicated their respect for the accord refraining from pushing the dollar lower but wednesday the dollar climbed more than marks about five pfennigs above its levels the friday before the accord the move was aided indications that the economy picked steam february the same time the west german economy was regressing but dealers said the federal reserve bank new york gave traders sharp reminder that the pact had encompassed the idea limiting inordinate dollar gains well declines dealers differed whether the central bank actually intervened sell dollars above marks simply telephoned dealers ask for quotes and enquire about trading conditions but the dollar quickly backed off hovered today around marks the market was surprised that the fed showed its face soon said marine midland neill also wednesday london dealers said the bank england intervened the open market sell sterling the currency rose dlrs compared with dlrs before the pact sterling along with the other high yield currencies like the australian dollar and canadian dollar was favor after traders surmised that the the chance intervention pursuant the paris currency accord left limited room for profit plays dollar mark and dollar yen the pound also was boosted suggestions improving economy anticipation popular british budget march and public opinion polls showing good chances for the incumbent conservative party any general election there was real run sterling said anne mills shearson lehman brothers inc sterling traded today around dlrs down from dlrs last night slid marks from yesterday and from peak about recently there been some heavy profit taking sterling mark ahead next tuesday budget said james mcgroarty discount corp speculators detected the presence the and british central banks they acclerated their shift into canadian and australian dollars but here too they were stymied the bank canada acted slow its currency rise the canadian dollar traded per dollar today down from yesterday and the australian reserve bank using the fed agent sold australian dollars the yesterday dealers said the australian dollar fell low cents today from high thursday analysts said the central banks moves stifle sudden upward movement leave the market uncertain about its next step today the focus shifted the yen which has held very tight range against the dollar for several months the dollar fell yen from last night analysts said the yen also gained traders unwound long sterling short mark positions established lately because the change perceptions about the health the german economy the funds from those unwinding operations are ending yen dealer one bank said recent west german data have shown falling industry orders lower industrial output and slowing employment gains moreover the yen benefitting japanese entities who have invested heavily overseas for example australian financial instruments repatriate their profits ahead the end the japanese fiscal year march noting that the dollar yen rate sense the most controversial one because the large trade deficit with japan analysts said the stage could set for another test the dollar downward scope against the japanese currency its latest review the foreign exchange market through the end january the federal reserve revealed that intervened protect the dollar against the yen january that day the dollar fell low yen sure the fed bought dollars near the yen level january but the market has bear mind that time marches and the situation changes said mcgroarty discount reuter 
earn	weyerhaeuser sees higher earnings weyerhaeuser said should have significant increases earnings and should another very good year weyerhaeuser reported earnings mln dlrs dlrs per share billion dlrs revenues anticipated improved cash flows will allow the company invest and acquire much more aggressively than has the past few years weyerhaeuser also said weyerhaeuser principally lumber products company said the forecast was made the company chief financial officer during meeting institutional investors tokyo also said its expects see opportunities the building products area particularly composite panels and other engineered products directed toward specific rather than commodity end use markets but said growth may higher added value products financial services and other diversified businesses addition the company said rising product prices and demand for pulp and paper are reflected all the major world markets except the case some light weighted paper grades where overcapacity remains problem weyerhaeuser further stated that has lowered its manufacturing cost structure and obtaining significant productivity increases reuter 
earn	ldbrinkman corp ldbc qtr jan loss shr loss seven cts profit cts net loss profit revs mln mln six mths shr profit cts profit cts net profit profit revs mln mln reuter 
earn	acs enterprises inc acse qtr loss shr loss two cts profit three cts net loss profit revs avg shrs year shr loss cts profit four cts net loss profit revs avg shrs notes revenues exclude hospital television rental business sold dec losses both periods include gain dlrs sale discontinued business reuter 
acq	tony lama tlam buy coulson texas inc tony lama inc said signed letter intent buy coulson texas inc maker heels and leather components the company said exact terms the deal have not been determined but that does not expect the acquisition have material effect its financial position addition buying substantially all coulson assets tony lama said would assume certain the company liabilities reuter 
earn	fitness inc tfit year dec loss shr loss cts loss cts net loss loss revs avg shrs reuter 
acq	tribune trb completes cable system sale tribune said completed the sale the danville cable television system cablevision industries ltd partnership affiliated with cablevision industries inc liberty said the danville system was one two systems acquired tribune september part its purchase the daily press inc publisher the newport news daily press and the times herald agreements sell both systems for total mln dlrs were reached october sale the newport news system was completed december reuter 
acq	gte gte unit sell infortext products infortext systems inc said finalized two year agreement under which gte services corp and eight affiliates will sell infortext line personal computer based telephone call accounting systems gte services unit gte corp evaluated competitive call accounting systems the company said reuter 
acq	sheppard resources merge with cancer clinic sheppard resources inc said signed letter intent merge with breast centers inc owner operator and franchiser clinics that provide services for the early detection breast cancer terms were not disclosed after the merger breast centers shareholders would become the majority shareholders the combined company also approved sheppard will change its name breast centers reuter 
earn	firstier inc frst sets regular quarterly div qtly div cts cts prior pay march record march reuter 
earn	zondervan corp zond qtr net shr profit nil profit cts net profit profit revs mln mln mths shr profit cts loss three cts net profit loss revs mln mln reuter 
earn	unibancorp inc ubcp regular dividend set qtly div cts cts previously pay april record march reuter 
earn	second national building snbl raises dividend qtrly seven cts six cts pay april record march note full name company second national building and loan reuter 
earn	broadview financial corp bdvf qtr loss shr loss dlrs loss dlrs net loss mln loss mln year shr loss dlrs loss dlrs net loss mln loss mln note qtr and year net includes mln dlr and mln dlr provision respectively for possible land and real estate losses qtr and year net includes mln dlr and mln dlr provision respectively for possible losses reuter 
earn	enzo biochem inc enzo qtr jan net shr one three cts net revs avg shrs mln mln six mths shr five cts six cts net revs avg shrs mln mln reuter 
acq	tender for allegheny int underway first boston inc fbc sunter acquisition corp said began its previously announced dlr per share tender offer for allegheny international inc common stock the company also offering dlrs for each dlr cumulative preferred share and dlrs for each share dlr convertible preferred stock the company said the offer and withdrawal rights will expire midnight april nine unless extended reuter 
earn	varity vat expects qtr full year loss varity corp formerly massey ferguson ltd said expected report march loss for the fourth quarter and full year ended january company spokesman said specific figures were unavailable varity posted net profit mln dlrs for the previous fiscal year ended january and mln dlr net profit for the previous fourth quarter its net loss for the nine months ended october totaled mln dlrs after mln dlr third quarter loss tied strikes and plant shutdowns its british and french operations varity also said would seek shareholder approval special shareholders meeting april authorize transfer values the contributed surplus account its balance sheet from the stated capital account for common shares the spokesman said the move would help raise company values required pay dividends under canadian law reuter 
acq	cablevision buy valley cable for mln dlr cablevision industries corp said its cablevision industries california inc subsidiary has entered into agreement buy substantially all the assets valley cable for about mln dlrs the company said will buy the system from california limited partnership which wholly owned toronto based hollinger inc said valley cable operates subscriber cable television systems passing about homes the west san fernando valley area los angeles cablevision said the nation largest cable company and ownnd alan gerry its chairman president and chief executive officer the company said the agreement subject regulatory approval reuter 
earn	anthes industries inc qtr net oper shr cts nine cts oper net revs not given year oper shr cts six cts oper net revs mln mln note qtr excludes extraordinary loss dlrs nine cts share versus gain dlrs five cts shr note continued year excludes extraordinary loss dlrs cts share versus extraordinary loss dlrs two cts share reuter 
acq	borg warner bor board oks sale unit borg warner corp said its directors approved the sale for about mln dlrs its industrial products division new york based private investment firm clayton and dubilier inc and senior management the group yesterday the company said agreed sell the division which has annual sales about mln dlrs and based long beach california reuter 
earn	autrex inc qtr january net shr one cts two cts net revs reuter 
acq	southam unit acquires winnipeg community papers southam inc said its flyer force unit acquired three community newspapers winnipeg with combined circulation for undisclosed terms southam said the newspapers the herald the lance and metro one will printed its canadian publishers division winnipeg flyer force intends expand distribution the newspapers begin improved service the winnipeg market southam said reuter 
earn	mlx corp mlxx qtr loss shr loss cts profit one net loss profit revs mln avg shrs mln year shr loss cts loss three cts net loss loss revs mln avg shrs mln reuter 
acq	forest city feca completes sale forest city enterprises inc said completed the previously announced sale assets its retail store division excluding real estate handy andy home improvement centers inc private gurnee ill firm the sale for cash and notes but exact terms were not disclosed reuter 
acq	minn bank okla thrift actions taken beaver creek state bank beaver creek minn failed and the bank insured assets were transferred citizens state bank silver lake minn the federal deposit insurance corp said separately the federal home loan bank board said victor federal savings and loan association muskogee okla was placed into receivership beaver creek two offices will open branches citizens monday the transfer was arranged because there were bids buy beaver creek the fdic said citizens will pay premium dlrs the fdic and purchase beaver creek assets for mln dlrs was the bank failure the nation this year the fhlbb said victor federal savings was insolvent and its assets were transferred newly chartered federal mutual association with directors named the fhlbb victor was stock association with mln dlrs assets the new association known victor savings and loan association and its assets continue insured the federal savings and loan insurance corp the fhlbb said reuter 
earn	lifestyle restaurants lif adjusts revenues lifestyle restaurants inc said revenues for the first quarter ended january were mln dlrs and not the mln dlrs had reported earlier the company also said note attached its earnings concerning gain certain sales was incorrect and should disregarded reuter 
acq	investor disappointed caesars caw response investor martin sosnoff said statement that was disappointed caesars world inc response his dlrs share offer buy the company the company had said the offer was inadequate and that was exploring restructuring sale the company another party sosnoff said believes the offer fair all shareholders primary desire still sit down with management negotiate friendly acquisition said reuter 
crude	venezuela lend mln barrels oil venezuela will lend ecuador mln barrels crude oil help meet its export commitments and its domestic energy demand ecuadorean energy and mines minister javier espinosa said today statement ecuador was forced suspend exports after the pipeline connecting its jungle oil fields with the pacific ocean port balao was damaged last week earthquake venezuela would lend barrels per day crude for total mln barrels help ecuador meet export commitments espinosa said also venezuela will sell the crude and provide the foreign exchange earnings ecuador said ecuador would repay venezuela crude once resumed its exports after repairing its pipeline balao task that would take estimated five months venezuela lending ecuador five mln barrels crude for refining this country meet domestic demand ecuador would repay that loan with crude once the oil pipeline repaired both countries are the only latin american members the organisation petroleum exporting countries opec ecuador was exporting about bpd before the earthquake energy ministry officials said its total output was around bpd reuter 
crude	pdvsa sign champlin refinery deal march petroleos venezuela said will sign contract march buy half interest corpus christi texas refinery and related operations the contract signed pdvsa and champlin petroleum parent company the union pacific corp unp will create new joint venture called champlin refining the state oil company said pdvsa will pay the order mln dlrs for the half interest champlin energy minister arturo hernandez grisanti said wednesday the cost would mln dlrs cash plus additional mln crude and refined oil shipments pdvsa and union pacific have sought line credit from group north american and japanese banks finance the new company working capital the venezuelan company said under the deal pdvsa will supply barrels day the refinery with the option place bpd more mostly gasoline and distillates through champlin distribution system states the new company will directed six member board with three representatives each from pdvsa and union pacific reuter 
acq	pratt prat offer for resorts expires acquisition unit pratt hotel corp said its mln dlrs per share tender offer for all shares class common stock resorts international inc expired today about shares were tendered insufficient number shares satisfy the condition that pct the voting power tendered earlier this week new york developer donald trump made competing bid for the class shares reuter 
crude	saudis drop condition for oil sale brazil saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship oil the state oil company petrobras said statement petrobras said the saudis will accept banco brasil credit guarantees petrobras cancelled mln dlr crude oil purchase from the saudis yesterday after they refused accept letter credit from the official bank brazil the saudis had demanded that brazil get credit guarantees from leading international banks petrobras said the saudis had been advised that they did not change their mind monday petrobras would negotiate the purchase oil with other producers the petrobras statement said the shipment mln barrels will made the saudis march scheduled the shipment part contract signed february for the saudis supply brazil with barrels per day until june reuter 
crude	saudi arabia decides accept brazil credit saudi arabia has lifted the condition imposed the sale oil brazil and will accept banco brasil credit guarantees state oil company petrobras said statement petrobras cancelled mln dlr crude oil purchase from the saudis yesterday after they refused accept letter credit from the bank brazil demanding guarantees from leading international banks advised the saudis the company would negotiate oil purchases elsewhere unless they changed their mind monday the mln barrels shipment will made the saudis march scheduled the statement said under bpd contract signed february the saudis agreed supply oil brazil until june reuter 
earn	micron technology dram sees qtr loss micron technology inc said expects record net loss about mln dlrs the second quarter compared loss mln dlrs the first quarter and mln dlrs the year ago second quarter revenues the quarter ended march five increased about mln dlrs from mln the preceeding quarter and mln dlrs the year ago quarter the company makes semiconductors memory components and related products reuter 
interest	trading range likely continue debt futures economic data due out next week unlikely hold any surprises that will shake interest rate futures out their relatively narrow trading range the last months financial analysts said people don seem have any firm conviction about the current strength the economy about the federal reserve doing anything said drexel burnham lambert analyst norman mains the narrow range trading also taking its toll trading volume noted had decline activity recent economic statistics have not greatly changed people viewpoints interest rates mains said the data which has provided not clear cut view the economy coupled with dampened activity the foreign exchange markets after the paris initiative has made for less than ebullient market action mains said added however that treasury bond futures could for retracement after the recent rise they are near the top the trading range view that the economy remains relatively strong and market participants will see that current prices are unjustified mains said refco inc senior vice president michael connery also noted that the market showing very little momentum and lacks retail interest all the movement occurs the opening afterwhich volume dwindles and momentum fades connery said although data during the week was mildly positive for bond prices the small rise february producer prices and downward revisions january retail sales and industrial production were not real exciting said prudential bache analyst fred leiner there one factor that will push through the highs this moment leiner said next week revision fourth quarter gross national product also likely little interest the market said kleinwort benson chief financial economist sam kahan still forecasts for first quarter gnp could play role the direction bond prices over the next month kahan said his early estimate for first quarter growth around three pct due largely buildup inventories reflected the january inventory data friday which showed the largest increase since the key question will not whether there large increase first quarter gnp but whether any increase sustainable one shot deal kahan said said that sizable increase first quarter gnp stemming from increase inventories will drag second quarter growth that the case gnp the second quarter could ease back one two pct growth rate kahan said reuter 
earn	agra industries ltd six mths jan net oper shr cts cts oper net revs mln mln note net excludes extraordinary loss dlrs four cts shr ago loss dlrs cts shr net includes non cash loss dlrs cts shr ago loss dlrs cts shr from depreciation and amortization allowances cable operation fewer shrs outstanding reuter 
acq	acquisition raises toll the federal home loan bank board fhlbb announced the acquisition home savings and loan association seattle washington interwest savings bank oak harbour washington the fhlbb said home savings was the troubled savings institution requiring federal action this year said home savings had assets mln dlrs assets and interwest had assets mln dlrs reuter 
trade	swedish trade surplus rises february sweden trade surplus rose billion crowns february from billion january and billion february the central bureau statistics said the trade surplus for the first two months the year rose billion crowns from billion the corresponding period the report said february imports stood billion crowns while exports were billion reuter 
ship	iran has anti ship missiles near gulf paper iran has deployed about six large missiles near the strait hormuz which increase the threat shipping the gulf the new york times said the paper quoted intelligence sources saying the missiles appeared chinese design known which based the soviet ssn styx missile styx missiles have range miles said the missiles had been deployed two sites and quoted naval analyst saying they could used sink supertanker and block the strait hormuz missiles now used iran had only fraction the explosive power the styx and could sink supertanker only with lucky hit the paper said none the new missiles had been fired yet added the cbs television network reported friday that iran had installed new missiles along the gulf and said washington had warned tehran not use them against civilian shipping reuter 
trade	baldrige warns world trade war danger commerce secretary malcolm baldrige predicted congress will pass reasonable trade bill this year and said tough protectionist legislation could prompt trade war the mood the congress right now tough trade ever seen six years washington baldrige said television interview think still able get reasonable trade bill out spite that because the whole congress trying work together with the administration but there hardening trade attitude said president reagan opposes protectionist legislation but agreed support trade bill when became apparent that opposition democrats would pass such legislation however baldrige warned measures that would penalise trading partners such japan south korea and taiwan for failing cut their trade surpluses with the could lead retaliation and said would urge reagan veto any such bill when asked there rising danger worldwide trade war baldrige said yes don think there any question about that reuter 
acq	delors quoted favouring franco german bid for cgct european commission president jacques delors quoted monde newspaper said favoured franco german candidate take over cie generale constructions telephoniques which has pct stake the french public telephone switching market wish for european solution that will enable germany and france move closer together which currently necessary was quoted saying given the situtation the european community and the importance for our future connunications audiences and cooperation already undertaken the community level that seems the best choice delors added five groups including alliance between west germany siemens sieg and france schneider schn subsidiary jeumont schneider have applied buy what france second largest telephone switching firm under french privatisation law foreign companies are restricted pct stake privatised companies reuter 
crude	saudi oil minister foresees need for new opec measures before june 
crude	saudi oil minister sees need alter opec pact saudi arabian oil minister hisham nazer said opec december agreement stabilise oil prices dlrs barrel was being implemented satisfactorily and there was immediate need change nazer interview with reuters and the television news agency visnews said saudi arabia was producing around three mln barrels per day bpd crude oil well below its opec quota saudi arabia the world largest oil exporter will continue restrain production long other opec members adhere the pact nazer said the nation opec agreed december cut its production ceiling pct mln bpd and abide fixed prices averaging dlrs barrel from february nazer his first interview since succeeding ahmed zaki yamani last october said not foresee any need for new measures before the june when our next opec meeting will take place scheduled nazer said opec was producing below mln bpd and all members were abiding its agreements heard news every now and then violations but they were not all verified said opec production curbs have boosted world oil prices from year low around eight dlrs barrel last august near dlrs after announcement the december pact spot market prices slipped some two dlrs february but have firmed the past two weeks near opec levels traders gained confidence opec price and output discipline nazer said saudi arabia would continue produce below its mln bpd quota necessary defend the dlr price long all the opec members adhere the program devised december saudi arabia will continue adhere the agreement said current production three mln bpd includes oil from the neutral zone shared with kuwait but not sales from floating storage nazer said king fahd saudi arabia interview with reuters and visnews march said the kingdom wanted oil price stability and called non opec producers avoid harmful competition with opec saudi arabia doesn decide prices itself but certainly desires price stability said nazer said the output level did not mean the kingdom had returned role swing producer within opec saudi arabia allowed its output sink low two mln bpd august compensate for slack demand and over production some opec states saudi arabia not playing that role being played opec membership whole because the reduction the mln bpd share opec the market being shared other members opec nazer said nazer said opec estimated demand for its oil during third quarter this year would around mln bpd but said circumstances changed sure then the opec members will consult with each other and take the necessary measures oil analysts say the opec pact could come under strain when demand for petroleum products generally falls the northern hemisphere spring and summer nazer said was satisfied with the extent cooperation from non opec producers norway egypt and the soviet union agreed help opec restraining production exports after visited them opec behalf earlier this year did not ask any country anything these were programmes they thought were necessary stabilise market conditions and help themselves attain better pricing conditions nazer said said was countries that declined cooperate such britain come with their own proposals they saw fit reuter 
crude	saudi businessmen discuss private sector saudi arabian business leaders assembled for conference aimed thrashing out problems facing the private sector the kingdom oil dependent economy the meeting some top businessmen from across saudi arabia comes time guarded optimism industry and commerce following the opec pact boost world oil prices the four day conference this resort town high the mountains above the tihamah plain stretching the red sea has been organised saudi arabia chambers commerce finance minister mohammed ali abal khail and commerce minister suleiman abdulaziz salim will attend the first day bankers and businessmen said the conference will air problems facing commerce and industry after last year slide oil prices and examine ways promote higher investment private sector sorely short finance government planners have long recognised that saudi arabia the world largest crude exporter needs foster private enterprise diversify its oil based economy the fledgling private sector was hard hit the middle east recession early and several big manufacturing and trading companies ran into problems repaying loans renewed optimism this year stems largely from the accord reached opec last december curb oil output and boost prices benchmark level dlrs per barrel with oil prices recovering saudi arabia went ahead the turn the year with long delayed budget plans incorporating billion riyal deficit bridged drawing down foreign reserves the simple act publishing budget restored measure confidence the business community some share prices have risen more than pct since last november while banks are generally reporting slowdown the number new non performing loans but not all bankers are convinced one senior corporate finance manager riyadh said banks are still reluctant lend there certainly more optimism the air but not sure firmly based some businessmen and bankers point out that government spending still under tight control and the non oil economy may still contracting capital expenditure large projects has been cut sharply embassy report saudi arabia published just before the budget said while industrialisation has continued one the government highest priorities the recession the payments problem and the lack financing have reduced saudi and foreign investor interest industry the lack fresh investment that expected major issue among the businessmen gathered here official figures show the number new licences for industrial ventures fell pct the six months march compared with the same period lending the saudi industrial development fund major source industry backing has fallen steadily since trading companies have also been hit some caught with huge inventories construction equipment recession bit some firms laid off workers and cut bloated inventories others have effectively been liquidated few have reached agreement with bankers extend debt repayments the latest rescheduling for the shipping hotels conglomerate redec its negotiators have just initialled draft accord restructure payments billion riyals bank debt bankers and businessmen said the conference was also likely discuss the apparent reluctance and british firms step investment the kingdom british government delegation has just left riyadh after holding preliminary talks ways offsetting the huge saudi outlay defence contract supply fighter aircraft worth five billion stg reuter 
earn	citroen expects higher profits helped automobiles citroen expects rising sales its new compact car help boost profits significantly this year continuing financial recovery after six straight years losses president jacques calvet said speaking reporters during weekend trials for the new sports model said all the budgetary forecasts that have been able make show relatively significant improvement compared with added citroen part the private peugeot peup group increased its share the french new car market pct first two months from pct year earlier aiming for average pct share throughout the year after pct the firm believes target raise its share the european market excluding france pct this year from pct our first problem produce enough vehicles meet the demand calvet said this relatively new problem for citroen lost close two billion francs but cut the deficit mln helped moves modernise its range and improve productivity calvet indicated last december expected citroen profit between and million francs this weekend said that those profit estimates remain about the same perhaps even little more optimistic some this optimism due the early success the launched the french market last october will available throughout most western europe within four months the car has registered just over sales being built citroen large plant aulnay sous bois northern paris well rennes brittany and vigo spain with production just reaching target level cars day the car which citroen markets intermediate model between its long running and the visa designed compete with the renault volkswagen polo and opel corsa the had built its market share france around four pct last month calvet said our hope that once the fully developed will have between and seven per cent the national market reuter 
money-fx	leading industrial nations meet april leading industrial nations will meet again next month review their accord currency stability but officials said financial markets are convinced for now the countries will live commitments speed economic growth the narrow currency movements recent weeks strongly suggests the six leading industrial countries have tamed the normally unruly financial markets and next month talks seem likely build that stability reagan administration official said the paris agreement last month was the main reason markets were calm but said interview that financial markets also understood that all six countries concluded that the measures taken over period time the future should foster stability exchange rates around current levels that fact what has happened since paris monetary analysts said stability has been helped part the decision industrial nations bury the hatchet and cease quarrel over short term policy objectives instead they have focused medium term policy goals but left room adjust their agreements with periodic meetings the official refused comment however whether the agreement included secret pact consider further coordinated interest rate cuts measure industrial nations have taken jointly several times the past year february the united states japan west germany france britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions given commitments washington cut its budget deficit and toyko and bonn boost economic growth the shake would strengthen the position future international talks think these changes will strengthen the president hand politically and the stronger politically the better off are with the congress and the better off are international fora said the official administration economic policymaker would beneficial the continued conduct our initiatives but the official also said the administration would resist calls for tax increase cut the budget deficit target europeans say crucial help curb economic instability last week dealers said the federal reserve intervened stop the dollar rising against the mark which had breached the dollar british authorities are also understood have intervened curb sterling strength international monetary sources say finance ministers and central bankers who will review market performance and their own economic prospects will reassemble again washington just before the april policymaking meeting the international monetary fund the sources said italy which refused join the paris pact was invited back treasury secretary james baker since paris there are signs west german growth slowing while officials said they were giving japan until april show that economic stimulus package was the offing signs concern about german prospects emerged recently when bundesbank central bank president karl otto poehl told bankers would consider cutting west german interest rates the fed was ready follow suit reagan administration official said this would show there had been some change approach the part the central bank germany but declined comment the prospects for action the fed and the bundesbank there such provision private and talked about would longer private said the official who asked not identified public comments fed officials suggest the central bank keeping credit conditions broadly unchanged but the major economies continue show sluggish growth and the trade deficit remains stubbornly high further coordinated action could the april agenda reuter 
acq	harper and row hpr mull options after bids harper and row publishers inc said its board directors decided take action two takeover bids that the company has received instead appointed committee independent directors study strategic alternatives for the year old firm the alternatives include continuation the company existing business plans possible business combinations sales stock restructuring and the sale all part the company kidder peabody and inc has been retained advise the alternatives harper and row added private investor theodore cross last week offered dlrs share for harper and row prompting rival bid dlrs share from another publishing firm harcourt brace jovanovich inc hbj after considering the two offers meeting friday the harper and row board decided not act them the directors unanimously expressed their strong desire preserve the company independence and take advantage its considerable future prospects according director winthrop knowlton former chief executive and now chairman the newly established independent committee however given the significant current interest the company also feel that should carefully review all the options available the committee will consider all the pertinent facts and alternatives intend make careful and informed decision but will proceed expeditiously conclusion knowlton said pending its deliberations harper and row board has postponed indefinitely special meeting stockholders that had been scheduled for april discuss proposal recapitalize the company stock create two classes shares with different voting rights reuter 
money-fx	taiwan says wants taiwan dollar appreciate the united states wants taiwan currency appreciate faster reduce taiwan trade surplus with the senior trade official said board foreign trade director vincent siew told reporters saturday officials told him washington last week that unless taiwan allowed its dollar rise faster would face retaliation siew returned from washington friday after the responded taiwan request increase its textile export quotas promising further talks may taiwan surplus with the hit record billion dlrs washington signed three year accord with taipei last year limiting textile export growth pct year siew said the taiwan dollar had risen about pct against the dollar since september surged last week amid indications washington was seeking major rise its value rose four cents against the dollar saturday close western trade sources told reuters taiwan and the have been holding talks the currency issue but added not clear how far washington wants see the taiwan dollar rise reuter 
earn	the national bank new zealand ltd year december net profit mln dlrs mln pre tax profit mln mln total assets billion billion notes the company pct owned lloyds bank plc lloy results include for the time first pre tax profit mln dlrs from australian unit lloyds bank nza ltd reuter 
money-fx	zambia imf talks hit problems over food subsidies zambia talks with the world bank and international monetary fund imf financial rescue package have run into difficulties the issue food subsidies official newspaper said the times zambia which run the ruling united national independence party unip quoted official sources saying the imf and world bank had refused continue financing food subsidies and were pressing the government explain how proposes pay for them president kenneth kaunda tried abolish maize subsidies last december line with imf recommendations but the move caused maize meal prices double overnight and led riots which people were killed the subsidies were immediately restored part moves quell the disturbances but they are estimated cost the government about mln kwacha per year the times zambia said another major issue the government current talks with the imf and world bank was the remodelling zambia foreign exchange auction the central bank weekly auction foreign exchange the private sector has been suspended since the end january pending modifications slow down the rate devaluation and dampen fluctuations the exchange rate the kwacha slid around per dollar under the auction system losing pct its value months however since the end january has been revalued fixed rate nine per dollar banking sources said zambia was persuaded the world bank and imf lift its proposed ceiling kwacha per dollar the currency devaluation once the auctions restart according the times zambia the imf team led assistant director for africa paul acquah due conclude its talks with the government schedule march the imf mission arrived lusaka february and its talks with the government have taken longer than expected reuter 
ship	japan line selling tankers and bulkers major tanker operator japan line ltd jlit selling vlccs and several bulk carriers for scrap further trading industry sources said the tanker disposals include japan orchid dwt japan lupinus dwt sovereign dwt rosebay dwt saffron dwt and cattleya dwt all which have been reported the london sale and purchase market they said but refused give further details japan line officials declined comment reuter 
money-fx	german banking authorities weigh swap regulations german banking authorities are weighing rules for banks off balance sheet activities attempt cope with the growing volume sophisticated capital market instruments banking sources said interest rate and currency swaps and currency options are under closest scrutiny and revisions are made they may resemble regulation jointly proposed the and japan juergen becker director the bundesbank division banking law and credit supervision said the british proposals were interesting but declined elaborate but banking sources said west germany was more likely produce its own conclusions than adopt foreign proposals there formal plan yet but talks are the latter stages one representative the german banking association cologne said bankers expect rule changes this year all alterations must approved the bundesbank west germany four major banking associations and the federal banking supervisory office talks have been slowed the fact that fundamental changes would require revision germany credit law which has been effect since authorities favour reinterpreting the credit law fit present circumstances order avoid the long parliamentary political process changing banking sources said since the beginning the banking law has limited banks lending times shareholders equity plus reserves consolidated basis but lending ratios not extend several newer instruments such spot and forward currency contracts currency and interest swaps commercial paper programs currency options interest rate futures foreign currencies and various innovative types interest rate hedges the sources said the main value the proposals lay differentiating between different types risk factor and for instance placing greater weight currency swaps than interest swaps but even german banking authorities agree with some the assessments swaps they disagree how find balance sheet equivalents for the risk british proposals include complicated series formulae for assessing the stream payments involved swaps whose ultimate risk borne the financial intermediary especially when counterparties remain anonymous this the called market market value but german authorities are likely consider this much too complex and base their evaluation instead schedule lending ratings assigned according the creditworthiness the borrowers involved the sources said the weightings also likely lending ratios are extended include banks securities portfolios are zero for public authorities pct for domestic banks pct for foreign banks and pct for other foreign and non bank borrowers further complication that the more flexible definitions equity allowed the and the may put german banks competitive disadvantage the sources said stricter definitions here also mean the use version the proposals could far exceed the intent the and british authorities the sources said one specialist for dresdner bank said long dated foreign exchange forward transaction could for instance brought under the same rule cross currency swap despite the fact that the risk may entirely different how new regulations will affect foreign banks here was uncertain many have converted full subsidiary status and applied for full banking licence over the last two years order lead manage mark eurobonds but their equity capital fairly small tight lending ratios will severely hamper foreign banks freedom movement particularly the growing business currency swaps they are required include more transactions the balance sheet the sources added reuter 
acq	bhp merge bhp minerals and utah international the broken hill pty ltd brkn said will merge its bhp minerals division and utah international inc into single business unit under common management structure the merger will effective june coinciding with the retirement utah international chairman and chief executive bud wilson bhp said statement the new bhp utah minerals international group will headed jim curry executive general manager and chief executive officer curry currently executive vice president utah international bhp said bhp petroleum americas inc formerly part utah international will become subsidiary bhp renamed bhp petroleum international now bhp petroleum pty ltd the company said bhp will also bring its queensland coal operations under one management structure and consolidate minerals marketing and sales offices various markets throughout the world bhp acquired utah from general electric utah assets include stakes pct seven large central queensland coking mines pct the samarco iron ore operation brazil pct escondida copper deposit chile the island copper mine port hardy canada pct coal mine and pct gold mine south africa and coal and other mines the bhp minerals assets include wholly and partly owned iron ore mines coal mines manganese and base metal operations prospects and pct the tedi gold copper project papua new guinea reuter 
earn	japan business decline seen bottoming out the extended decline japan overall business performance was likely bottom out the current january march quarter the finance ministry said improved corporate earnings and better prospects for the stability the yen had made companies more optimistic said after carrying out quarterly survey the survey conducted february was based questionnaires returned large and small firms all sectors except the finance and insurance industries the survey said overall corporate earnings were expected turn positive with estimated pct year year increase the second half fiscal ending march after pct decrease the first half corporate earnings will grow further the first half fiscal rising estimated pct added manufacturers earnings hit hard the yen steady rise against the dollar will rise pct first half fiscal after falling pct the second half fiscal said overall earnings non manufacturing companies will rise pct year year the first half fiscal after growing pct the second half fiscal the survey said said this figure was bolstered profits firms such electric power and gas companies which have benefitted from the yen appreciation reuter 
acq	carlton buys stake central independent carlton communications plc ccml said statement had purchased pct stake some mln shares central independent television from ladbroke group plc ladb per share the consideration mln stg will met with mln stg cash and the issue one million ordinary carlton shares said central showed pretax profits pct mln stg for the year ended september reuter 
earn	pearson plc pson ended dec shr final div making pre tax profit mln stg mln net profit before minorities mln stg mln turnover mln mln pre interest profit mln mln net interest mln mln tax mln mln minority interests mln mln extraordinary debit mln credit mln note extraordinary debit reflected full provision for discontinuing the financial times printing operations bracken house partly offset gains disposals reuter 
trade	china reports mln dlr two month trade deficit china trade deficit totalled mln dlrs the first two months this year according figures released the state statistics bureau the new china news agency quoted the bureau saying foreign trade totalled billion dlrs the period which exports were worth billion dlrs the bureau said total trade volume was pct the same period with exports pct but gave other comparative figures china trade deficit totalled billion dlrs official figures show reuter 
earn	poclain offers par rights issue french machinery maker poclain pct owned tenneco inc said will raise its capital mln francs from mln for rights offering shareholders priced par francs share the offer between march and april the second stage capital restructuring plan announced december under which tenneco will become poclain majority shareholder the first stage poclain reduced its capital mln from mln reducing the nominal value its shares francs from poclain traded friday the paris bourse francs reuter 
money-fx	money market offered early assistance the bank england said invited early round bill offers from discount houses after forecasting shortage the system some billion stg among the main factors affecting liquidity bills maturing official hands and treasury bill take will drain some billion stg while exchequer transactions will take out around mln stg and bankers balances below target five mln stg partly offseting these outflows fall note circulation will add some mln stg the system today reuter 
acq	manila government take over san miguel board government commission that controls pct san miguel corp smc stock will increase its nominees the firm member board nine from six want correct business practices ramon diaz chairman the presidential commission good government pcgg told reuters right now there are lot companies that keep many things from their shareholders and one them san miguel said san miguel spokesman declined comment diaz said new york investment bank allen and inc told the pcgg was interested tendering for all outstanding smc stock with the subsequent dispersal pct the stock filipino investors comply with investment laws said australian businessman and brewer alan bond and the brewing company elders ixl ltd elxa were interested buying pct each smc stock added that the pcgg wanted some foreign input but would not allow foreign control the brewing and food conglomerate the philippines biggest manufacturing concern diaz said the pcgg did not plan remove smc president andres soriano from his family company has tremendous prestige run the company diaz said appreciate his management but certainly some practices have corrected reuter 
earn	cie bancaire one for five bonus share issue cie bancaire subsidiary recently privatised banking group cie financiere paribas pari said issuing mln new francs nominal shares the basis one for five already held the operation will begin march spokesman said cie bancaire also said has increased its capital billion francs from billion the incorporation mln francs reserves reuter 
acq	bond defers rights issue mulls project partners bond corp international ltd subsidiary the australian based bond corp holdings ltd bona said would defer its planned rights issue but still wants the issue made before july date has been set for the issue announced january document shareholders bond corp said the delay follows its receipt mln dlr loan from its parent company meet the first payment the newly acquired bond centre commercial complex central hong kong also wants outside partners take pct the project the company said the january announcement said the rights issue would finance bond corp billion dlr acquisition pct stake tvb ltd tvbh from film magnate run run shaw the company then reached agreement with consortium led sino land ltd sino buy commercial complex that still under construction for billion dlrs bond international said the document that except for the mln dlr loan the deal would financed from internal resources and selling interest the building the payments must completed the end bond international has also sold several residential buildings hong kong mid levels district for total mln dlrs the statement said the flats were among the properties bought last year from hongkong land ltd hkld for billion dlrs analysts said bond international heavily geared has relied bank borrowings purchase both the hongkong land properties and the tvb shares bond international also said the document that while plans sell interest the complex will hold the tvb shares long term investment reuter 
interest	philippines sees government revenue pct philippine government revenue expected rise pct billion pesos this year from billion finance secretary jaime ongpin said report president corazon aquino his department performance during the year ended february ongpin said least billion pesos were expected accrue from new tax reform measures announced last year said the goal for official development assistance oda this year two billion dlrs adding that aid donors have committed oda inflows billion dlrs pct from billion ongpin said steps planned provide sound revenue base included value added tax vat system due introduced gave other details said treasury bill maturities interest rate levels and the volume government securities sold the private sector have improved significantly particular short term prime interest rates which had gone over pct are now down less than pct said ongpin said the government debt equity scheme introduced august last year had attracted more than mln dlrs worth applications but selective evaluation had resulted approvals only mln dlrs end february said his department aims accelerate its privatisation program and the sale non performing assets owned associates former president ferdinand marcos achieve sales target four billion pesos which would help finance land reform aquino said earlier this month that all the billion pesos the government hopes raise from the sale the failed companies will used finance the land reform plan ongpin also said the government would pursue efforts obtain mln dlrs concessional funding for the program from world bank led consultative group multilateral and bilateral aid donors the government has said the land reform plan aims distribute mln hectares land poor peasants reuter 
trade	norway trade deficit widens february norway trade deficit widened february mln crowns from mln crowns january and mln crowns february last year the central bureau statistics said exports dropped billion crowns last month compared with billion january and billion february added crude oil and natural gas exports totalled billion crowns february against billion january and billion year ago reuter 
interest	uae government paper yields unchanged yields certificates deposit issued the united arab emirates central bank were unchanged pct the bank said the yield applies maturities one two three and six months reuter 
crude	mees says second week march opec output mln bpd opec produced only about mln bpd oil the second week march mln bpd below its ceiling largely because pipeline problems turkey and ecuador the middle east economic survey mees estimated landslide breached iraq one mln bpd pipeline through turkey march for week and earthquakes ecuador have shut down its export pipeline for four five months ecuador has opec quota bpd mees put saudi arabian output mln bpd the first week march and mln bpd the second addition output from the neutral zone between saudi arabia and kuwait mees said saudi arabia was pumping more than bpd its total production into floating storage saudi oil minister hisham nazer told reuters and the television news agency visnews yesterday that saudi output including neutral zone production was around three mln bpd the cyprus based newsletter also said authoritative libyan oil sources said libya was producing bpd compared with its bpd quota and that actual liftings are much lower than that said one major libyan equity producer had partially stopped lifting its bpd equity entitlement for march because libya was insisting official prices but still lifting bpd debt crude official prices and further bpd purchase crude said small equity producers with entitlements only bpd had also told tripoli they could not lift official prices mees said iraq had sent telex opec and member countries calling for the formation committee study what said were inequalities marketing potential among various members the newsletter said the iraqi letter indicated baghdad was having difficulty selling crude official prices the iraqi telex pointed out that some member countries export substantial volumes oil that are not subject opec price regulations exports refined products equity crude which the margins are equivalent covert discounts and other forms hydrocarbons which are marketed package deals with crude oil reuter 
earn	pearson concentrates four sectors pearson plc pson said the recent sale its fairey engineering companies mln stg management buy out was part its policy concentrating four key sectors statement with its results the company said its information and entertainments sector financial times newspaper had record sales and profits the subject mln stg investment programme with the printing and publishing operation moving new plant the london docklands next year its other key sectors are merchant banking oil and china commenting its camco inc oil service subsidiary pearson said believes the oil business setback only temporary the group has been acquiring oil properties both the and britain which will begin make significant impact profits the far east operations fine china subsidiary royal doulton ltd are being expanded the wake record recent sales japan added pearson reported pre tax profit mln stg from mln turnover fell mln from mln reuter 
earn	transport development group plc tdgl year shr final dividend making pre tax profit mln stg mln turnover mln stg mln operating profit mln stg mln net interest mln mln tax mln mln profit after tax mln mln minority interest net tangible assets per ordinary shr reuter 
earn	mai plc mlll six months december shr div pretax profit mln stg mln net after tax mln extraordinary credit mln stg nil turnover mln note the extraordinary item comprises profit less losses the sale certain subsidiaries less related tax and minority interests pretax profit comprises securities and money broking mln stg mln personal financial services mln stg media mln mln market reserch stg net interest mln reuter 
crude	ecuador says will pay debt when can president leon febres cordero said ecuador would honour its debt when had the capacity make payments but said foreign banks had calculated oil would have dlrs barrel for ecuador meet its commitments ecuador said friday that last week earthquake was forcing reaffirm earlier decision based the slide world oil prices suspend debt payments private foreign banks which hold two thirds its billion dlr foreign debt all legitimate debt commitment honour the president said during visit the quake zone government sovereign entity has dignity and prestige maintain private foreign banks and the world bank had calculated oil would have least dlrs barrel for quito able meet its commitments febres cordero said added that ecuadorean crude was now selling for dlrs barrel after having been sold for many months dlrs barrel and low seven dlrs before that meanwhile ecuador announced austerity program and price freeze key consumer goods result the earthquake which killed least people presidency minister patricio quevedo said the budget would cut five pct government hiring would frozen and salaries top officials including the president and cabinet would reduced also said price freeze would imposed basic consumer items mainly food staples while the price gasoline would rise between and pct and bus fares would rise pct gasoline supplies would also limited reuter 
money-fx	money market deficit forecast revised upwards the bank england said had revised its estimate the shortage the money market today billion stg before taking account its early operations earlier the bank forecast the deficit billion stg and gave mln stg assistance early round bill offers reuter 
crude	paribas seeking adjust ecuador oil facility banque paribas which arranged mln dlr loan for ecuador last year pre finance oil exports wants adjust the terms the facility help the country recover from devastating earthquake bankers said but the french bank plan which would effectively postpone repayment about mln dlrs the loan for several months running into stiff resistance from many the members the loan syndicate the pipeline that carries all ecuador oil exports was ruptured the march tremor and will take some five months repair cost about mln dlrs repair president leon febres cordero friday estimated total damages caused the quake one billion dlrs and said that ecuador result would maintain january suspension interest payments its foreign commercial bank debt payments were halted january because the drop the price oil which accounts for nearly two thirds ecuador export earnings and pct government revenue although sympathetic ecuador plight many banks the paribas facility feel that emergency financial relief job for international financial organizations and not for commercial banks bankers said the month oil financing facility which was signed last october one the few purely voluntary credits for latin american nation since the region debt crisis erupted august because was voluntary deal many bankers feel strongly that the orginal terms must adhered otherwise they fear the gradual establishment normal market conditions for latin borrowers will set back there lot reluctance the other banks they feel different facility and any kind suggestion restructuring would look bad one banker commented reuter 
acq	bank china takes stake baii holdings bank china has taken stake luxembourg based finance company baii holdings spokesman for baii said the stake was between three and five pct but further details the deal which was announced simultaneously paris london and hong kong were immediately available baii which pct arab owned looking expand its activities the far east and recently established wholly owned merchant banking subsidiary hong kong the spokesman said the group had earnings mln dlrs reuter 
crude	saudi oil minister sees need alter pact saudi arabian oil minister hisham nazer said opec december agreement stabilize oil prices dlrs barrel was being implemented satisfactorily and there was immediate need change nazer interview with reuters and the television news agency visnews said saudi arabia was producing around three mln barrels per day bpd crude oil well below its opec quota saudi arabia the world largest oil exporter will continue restrain production long other opec members adhere the pact nazer said the nation opec agreed december cut its production ceiling pct mln bpd and abide fixed prices averaging dlrs barrel from february nazer his first interview since succeeding ahmed zaki yamani last october said not foresee any need for new measures before the june when our next opec meeting will take place scheduled nazer said opec was producing below mln bpd and all members were abiding its agreements heard news every now and then violations but they were not all verified said opec production curbs have boosted world oil prices from year low around eight dlrs barrel last august near dlrs after announcement the december pact spot market prices slipped some two dlrs february but have firmed the past two weeks near opec levels traders gained confidence opec price and output discipline nazer said saudi arabia would continue produce below its mln bpd quota necessary defend the dlr price long all the opec members adhere the program devised december saudi arabia will continue adhere the agreement said current production three mln bpd includes oil from the neutral zone shared with kuwait but not sales from floating storage nazer said king fahd saudi arabia interview with reuters and visnews march said the kingdom wanted oil price stability and called non opec producers avoid harmful competition with opec saudi arabia doesn decide prices itself but certainly desires price stability said nazer said the output level did not mean the kingdom had returned role swing producer within opec saudi arabia allowed its output sink low two mln bpd august compensate for slack demand and over production some opec states saudi arabia not playing that role being played opec membership whole because the reduction the mln bpd share opec the market being shared other members opec nazer said nazer said opec estimated demand for its oil during third quarter this year would around mln bpd but said circumstances changed sure then the opec members will consult with each other and take the necessary measures oil analysts say the opec pact could come under strain when demand for petroleum products generally falls the northern hemisphere spring and summer nazer said was satisfied with the extent cooperation from non opec producers norway egypt and the soviet union agreed help opec restraining production exports after visited them opec behalf earlier this year did not ask any country anything these were programmes they thought were necessary stabilise market conditions and help themselves attain better pricing conditions nazer said said was countries that declined cooperate such britain come with their own proposals they saw fit 
trade	turkish trade deficit widens turkey trade deficit rose billion dlrs from billion following increased imports from western countries figures from the state statistics institute show exports were down pct billion dlrs compared with billion while imports were down pct billion dlrs from billion total trade with mid east gulf states fell some pct due lower oil prices with imports billion dlrs compared with billion and exports billion after billion exports organisation for economic cooperation and development countries rose billion dlrs from billion while imports were billion after billion turkey trade deficit december narrowed mln dlrs from mln november and compared with mln december reuter 
earn	alusuisse shares fall after capital cut news bearer shares schweizerische aluminium aluz alusuisse fell sharply trading resumed after one day suspension friday when the firm disclosed plans for capital cut the bearers held mainly foreign investors dropped swiss francs but volume was not particularly heavy registered shares were less affected slipping five the participation certificates fell francs from alusuisse made net loss mln francs after restated mln loss and set pct capital cut the company said could break even this year reuter 
trade	egypt soviets renegotiate arms debt terms egypt and the soviet union are expected sign agreement moscow next week settling cairo three billion dlr military debt egyptian officials said one official who asked remain anonymous told reuters draft agreement would reduce zero from two pct future interest payable the year old debt and set year repayment term talks are due begin moscow wednesday economy minister youssri mustapha who leaves for moscow tuesday met president hosni mubarak and egyptian ambassador moscow salah bassiouni discuss the issue one official said egypt would propose new exchange rate for trade with the soviet union current commerce based rate set the egyptian pounds the dollar which moscow sees unreasonable the fluctuating official rate about pounds the dollar the officials said part the debt would paid exports goods such textiles leather and furniture egypt wants settle the debt problem partly open the door for new cooperation mainly modernising soviet built steel aluminium and fertiliser plants under five year development plan ending june egypt which already imports soviet coal wood newsprint and glass also wanted debt deal allow purchases currently blocked spare parts for its ageing soviet military hardware the officials said estimated pct egypt arsenal still made soviet supplied equipment one official said cairo stopped repaying moscow for arms purchases when then president anwar sadat broke with its long standing ally and turned the reuter 
crude	saudis drop condition for oil sale brazil saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship oil state oil company petrobras said statement petrobras said the saudis will accept banco brasil credit guarantees petrobras cancelled mln dlr crude oil purchase from the saudis yesterday after they refused accept letter credit from the official bank brazil the saudis had demanded that brazil get credit guarantees from leading international banks petrobras said the saudis had been advised that they did not change their mind monday petrobras would negotiate the purchase oil with other producers the petrobras statement said the shipment mln barrels will made the saudis march scheduled the shipment was part contract signed february for the saudis supply brazil with barrels per day until june reuter 
earn	bsi raising mln swiss francs via rights issue banca della svizzera italiana bisz said planned one for rights issue pct nominal value raise about mln francs new capital the rights issue would have theoretical value shareholders swiss francs per bearer share and per registered share bsi was also seeking shareholder authorization for new participation certificates nominal value francs without rights for shareholders back future convertible warrant bonds for other purposes existing franc tranche certificates would split five for one the split would improve the marketability the existing certificates chief executive giorgio ghiringhelli told news conference the new bearer shares would priced francs compared with closing price last friday the zurich stock exchange while the registered shares would issued francs against market price reuter 
acq	pepsico offers acquire calny inc for dlrs share 
acq	harper and row hpr mull options after bids harper and row publishers inc said its board directors decided take action two takeover bids that the company has received instead appointed committee independent directors study strategic alternatives for the year old firm the alternatives include continuation the company existing business plans possible business combinations sales stock restructuring and the sale all part the company kidder peabody and inc has been retained advise the alternatives harper and row added private investor theodore cross last week offered dlrs share for harper and row prompting rival bid dlrs share from another publishing firm harcourt brace jovanovich inc hbj after carefully considering the two offers meeting friday the harpers and row board decided not act them the directors unanimously expressed their strong desire preserve the company independence and take advantage its considerable future prospects according director winthrop knowlton former chief executive and now chairman the newly established independent committee however given the significant current interest the company also feel that should carefully review all the options available the committee will consider all the pertinent facts and alternatives intend make careful and informed decision but will proceed expeditiously conclusion knowlton said pending its deliberations harper and row board has postponed indefinitely special meeting stockholders that had been scheduled for april discuss proposal recapitalize the company stock order create two classes shares with different votinmg rights reuter 
acq	failing washington state acquired the federal home loan bank board fhlbb announced the acquisition home savings and loan association seattle washington interwest savings bank oak harbour washington the fhlbb said home savings was the troubled savings institution requiring federal action this year said home savings had assets mln dlrs assets and interwest had assets mln dlrs reuter 
trade	baldrige warns world trade war danger commerce secretary malcolm baldrige predicted congress will pass reasonable trade bill this year and said tough protectionist legislation could prompt trade war the mood the congress right now tough trade ever seen six years washington baldrige said weekend television interview think still able get reasonable trade bill out spite that because the whole congress trying work together with the administration but there hardening trade attitude said president reagan opposes protectionist legislation but agreed support trade bill when became apparent that opposition democrats would pass such legislation however baldrige warned measures that would penalize trading partners such japan south korea and taiwan for failing cut their trade surpluses with the could lead retaliation and said would urge reagan veto any such bill when asked there rising danger worldwide trade war baldrige said yes don think there any question about that reuter 
acq	calny clny gets bid from pepsico pep calny inc said has received offer acquired pepsico inc which already owns pct calny stock for dlrs per share subject approval pepsico and calny boards and calny shareholders the company said its board intendsd schedule meeting the near future review the proposal and has asked oppenheimer and inc assist evaluating the offer and advise calny its alternatives calny the largest franchisee pepsico taco bell restaurants operating california oregon texas and washington well petite boulangerie bakeries seattle calny earned dlrs sales mln dlrs for the nine months ended november four december four calny rejected inadequate investor group led former president and chairman robert larive second offer acquire because the bid was inadeuqate and subject too many contingencies the group offered dlrs and one dlr pct preferred stock per calny share reuter 
acq	warburg pincus starts symbion symb bid warburg pincus capital corp said has started tender offer for common shares symbion inc dlrs each newspaper advertisement the firm said the opffer not conditioned receipt any minimum number shares but conditioned holders nor more than symbion sharesseeking receive the fair value their shares under provisions the utah business corporation act warburg said receipt shares would raise its interest symbion about pct from pct currently and give control warburg said reserves the right buy more than shares the offer oversubscribed but has present intention doing said has asked symbion provide its shareholder list help disseminating the offer the firm said the offer proration period and withdrawal rights expire april unless extended reuter 
earn	zim energy zimr sell shares privately zim energy corp said has entered into agreement for group consisting strategy and development inc norsk vikingolje oslo and mis gas corp which already owns one third zim buy mln new common shares cts each association with polo energy corp and jaguar petroleum corp the company said the investor group also bought about mln shares from zim management said james mitchell william richardson and steven duin have resigned officers and directors zim said chemclear inc cmcl has unilaterally canceled agreement merge with zim and zim board studying the possiblity claim against chemclear the company said expects report loss for the year about dlrs due lower oil and natural gas prices unsuccessful well workover programs and excessive overhead and corporate expenses said plans dramatic reduction overhead costs that should improve results the company said michel billard has been named chairman and robert berckmans has been named president and chief executive and berckmans and two others have joined the board zim said has agreed acquire the remaining interest its buccaneer and blue dolphin pipeline affiliates for about one mln dlrs cash and stock gave further details reuter 
earn	bluefield supply bfld liquidating payout bluefield supply said its board declared its second liquidating dividend dlrs per share payable march shareholders record march the company paid initial liquidating dividend dlrs per share january eight reuter 
earn	bergen brunswig corp bbca qtr feb net shr cts cts shr diluted cts cts net revs mln mln half shr cts cts shr diluted cts cts net mln revs billion billion reuter 
acq	dixons sells mln woolworth shares dixons group plc dxns has sold mln shares woolworth holdings plc wlth through salomon brothers equity ltd statement from salomon said the shares were placed with about institutions europe and the far east dixons retains one mln woolworth shares dixons spokesman added industry sources said dixons acquired the woolworth shares connection with its unsuccessful bid for the company last year dixons paid average price per share which compares with today woolworth closed froday dixons spokesman said the decision retain one mln shares reflected woolworth buoyant prospects reuter 
earn	joule inc joul sets stock split joule inc said its board declared three for two stock split payable april record march reuter 
acq	whippany paper board inc merger approved whippany paper board inc said shareholders special meeting approved merger into npn inc for dlrs per share npn acquired control whippany recent tender offer reuter 
acq	northern air freight nafi gets rejects bid privately held pilot air freight said met with officials northern air freight inc try negotiate friendly acquisition northern but northern management had interest the proposal northern has annual revenues about mln dlrs and based seattle reuter 
earn	american building maintenance abm qtr net shr cts cts net revs mln mln note american building maintenance industries inc reuter 
acq	renouf extends benequity holdings offer renouf corp international said has extended the expiration its offer pay dlrs unit buy all outstanding units benequity holdings california limited partnership march from march march renouf said about units had been tendered renouf pointed out this exceeds the minimum number sought the offer but its statement gave reason for the extention benequity has mln units outstanding reuter 
earn	new world pictures ltd nwp qtr net shr cts cts net revs mln mln avg shrs mln mln year oper shr cts cts oper net mln revs mln mln avg shrs mln mln note year net excludes dlr tax credit reuter 
earn	lowrance electronics inc leix qtr jan shr profit cts loss two cts net profit loss sales mln half shr profit cts profit cts net profit profit sales mln mln reuter 
earn	commtron corp cmr qtr feb net shr cts cts net sales mln mln avg shrs mln eight mln half shr cts cts net sales mln mln avg shrs mln eight mln reuter 
earn	wholesale club inc whls qtr jan net shr profit two cts loss cts net profit loss sales mln mln avg shrs year shr loss cts loss cts net loss loss sales mln mln avg shrs reuter 
earn	msa realty corp sss qtr net shr profit four cts loss two cts net profit loss revs avg shrs year shr profit cts loss cts net profit loss revs avg shrs note earnings include loss from carryforward investment tax credits dlrs the quarter and gain dlrs four cts share for the year reuter 
acq	becor western gets offer acquired new group for dlrs share 
earn	everest and jennings international eja qtr shr profit nine cts loss cts net profit loss sales mln mln year shr profit dlrs loss cts net profit mln loss sales mln mln note net both periods includes dlr provision for plant closing net includes gains sale west los angeles real estate dlrs quarter and dlrs year year net includes gains sale west los angeles real estate dlrs reuter 
earn	endotronics sees heavy losses qtr from withdrawal japan distributor 
earn	alpine group inc agi qtr jan net shr profit seven cts loss five cts net profit loss revs nine mths shr profit cts profit cts net profit profit revs mln mln note profits include gains dlrs three cts share quarter and dlrs cts share dlrs one cent share nine months from tax loss carryforward reuter 
earn	bsi says expects another good year banca della svizzera italiana bisz said expected business good again this year after pct increase net profit mln swiss francs chief executive giorgio ghiringhelli told reporters expected almost all important sectors expand well important exception would its securities business which would grow more slowly ghiringhelli also said the bank planned convert its representation london into subsidiary the end this year and further expand activities its new york subsidiary particularly private banking reuter 
acq	diamond shamrock sets pct proration factor for tendered shares 
ship	brazilian bank workers decide national strike brazilian bank workers voted launch nationwide strike this month compounding labour unrest arising from the failure the government anti inflation plan rally this city about northwest sao paulo about bank workers voted strike march unless their demand for pct pay rises met wilson gomes moura president the national confederation which groups the bank employees unions representing workers told reuters the indefinite stoppage would affect all banks the vote came stoppage seamen entered its third week and oil workers threatened action against the state owned petroleum company petrobras reuter 
acq	becor western bcw gets offer acquired becor western inc said investment limited partnership greenwich conn and randolph lenz are offering acquire becor for dlrs per share subject becor receipt least mln dlrs from the proposed sale its western gear corp subsidiary becor said has also received expressions interest from other parties seeking information about becor becor had previously agreed sell western gear for least mln dlrs and acquired bcw acquisition inc for dlrs cash and four dlrs debentures per becor share bcw was formed becor executives and goldman sachs and both deals are subject shareholder approval reuter 
acq	clark equipment ckl stake acquired clark equipment said was informed arthur goldberg acting behalf group investors that the group had accumulated shares about pct clark outstanding common stock said goldberg recently approached clark repurchase the shares however negotiations for the block repurchase were unsuccessful and have been terminated reuter 
acq	avia stockholders seek block sale reebok avia group international inc stockholders filed class action suit multnomah county circuit court seeking halt the sale avia reebok international ltd rbok avia stockholders also seek receive compensation from the defendants who include most avia directors according court papers the suit grew out meeting several dozen dissatisfied minority stockholders avia following the announcement reebok proposed acquisition avia and the sudden drop the price avia stock the complaint was filed behalf clem eischen portland area resident who owns shares avia and robert withers also the portland area who owns shares and other individuals who held stock the time reebok announcement jury trial has been requested the actions the small group that contral avia have hurt the little guy said eischen the stockholders according statement have organized steering committee the complaint reviews the price action avia stock from march and noted the plaintifs who purchased stock between dlrs and dlrs per share the price fell from dlrs dlrs share following the reebok announcement the complaint asked the defendants enjoined from proceeding with the reebok acquisition avia also requests damages determined the time trial avia said had not seen the court papers and said had comment the suit reuter 
earn	dwg corp dwg qtr jan net oper shr profit cts profit cts oper net profit profit revs mln mln avg shrs mln mln nine mths oper shr profit cts loss cts oper net profit loss revs mln mln avg shrs mln mln note net excludes discontinued operations loss dlrs profit dlrs quarter and loss dlrs profit dlrs nine mths net excludes gains insurance recovery dlrs dlrs quarter and dlrs dlrs nine mths prior year net excludes dlr loss from change accounting for textiles inventories prior year results for discontinuance apparel segment and change accounting for textile inventories share adjusted for stock dividends net includes pretax unrealized loss provision recoveries related marketable securities dlrs dlrs quarter and recovery dlrs provision dlrs nine mths prior nine mths net includes pretax gain sale marketable securities dlrs net includes tax credits dlrs dlrs quarter and credit dlrs provision mln dlrs nine mths reuter 
acq	diamond shamrock dia sets proration factor diamond shamrock corp said will accept about pct the shares its common stock tendered response the company offer pay dlrs share for mln shares the company said expects mail checks representing the purchase price the mln shares purchased later this week and will returning unpurchased shares shortly thereafter reuter 
earn	bralorne resources ltd year loss shr loss dlrs loss cts net loss mln loss revs mln mln note includes charge mln dlrs due writedown oil and gas interests writeoff goodwill and patents provision against disposal surplus inventory losses disposition operating units and writedown assets held for disposal reuter 
earn	and block hrb sees gains from tax reform with the april tax return deadline less than month away confused taxpayers will converging and block inc offices interpret the new tax codes financial results for the nation largest tax preparer are expected good fiscal but next year could bonanza analysts say for the short term the key word confusion block vice president tom bloch said interview when congress drastically changes laws confusion results and tax preparers benefit bloch said next year when taxpayers take the new forms and place them side side compare them more people will throw their hands and say going get help said tax forms will look very different next year added kidder peabody analyst herbert buchbinder expects block fiscal year end april show good gains over fiscal earnings mln dlrs dlrs share revenues mln dlrs estimates block fiscal earnings dlrs next year block could have bonanza buchbinder said based estimates larger work force block could show gain more than five pct tax forms prepared said the tax season block prepared tax returns pct over the previous year the internal revenue service estimates about mln individual income tax returns will filed for the tax season from last year mln forms professional tax preparers accounted for just over million forms according the irs for the longer term while confusion will continue bring clients into block tax preparation offices worldwide there are some changes the act that will have negative effect bloch conceded certain changes filing requirements will shorten the tax return and some cases simplify the form noted addition some low income wage earners will taken off the tax rolls said block currently analyzing its price structure try offset some the negatives last tax season the average cost for each return the amounted dlrs and dlrs worldwide bloch said this tax season rates will about three four pct line with the inflation rate said block expects some expansion this tax season its electronic filing system which directly feeds into the irs and can speed the refund process block can choose where and how much wants expand into the seven cities made available for the direct filing the irs bloch noted the irs estimates about returns will directly filed this tax season from the returns injected the tax season first kansas city analyst jonathan braatz said that block will benefit greatly from lower tax rates fiscal braatz expects block advertising budget about the same last year which will helped bit lower costs for television ads they may get little more bang for their buck said estimates block has about mln dlrs cash its balance sheet sheet and says interest rates rise could great benefit them reuter 
earn	ausimont compo aus raises quarterly qtly div eight cts five cts prior pay april record april three reuter 
acq	aldershot agrees acquire intracoastal refining aldershot resources ltd said signed interim agreement acquire pct the outstanding shares intracoastal refining inc conroe texas aldershot will pay certain number shares common stock based book value and maximum one mln shares under formula linked the next five years pre tax net revenues the transaction subject completion definitive agreement and regulatory approval reuter 
acq	derlan acquires pct aurora industries derlan industries ltd said acquired pct aurora industries inc montgomery illinois for undisclosed price closing subject completion legal formalities derlan said reuter 
earn	marion labs mkc votes split dividend hike marion laboratories inc said its board declared two for one common stock split the form dividend with distribution april record march the board also said intends increase the regular quarterly dividend pct five cts share reflecting the split said the increase will declared the may board meeting and reflected regular payments beginning july reuter 
acq	dart seeks supermarkets sgl negotiations dart group inc said preparted negotiate all terms its proposed acquisition supermarkets general corp early this month dart made unsolicited offer dlrs share cash for supermarkets general stock releasing letter sent friday supermarkets general dart said believe that agreement can reached which will the best interests supermarkets general its stockholders management employees and customers that end are prepared negotiate all terms acquisition agreement dart said dart said urges meeting with supermarkets general officials held promptly the letter pointed out the company has not heard from supermarkets general since making the offer other than this past monday when were informed that our offer would seriously considered and that you would get back timely basis arrange meeting dart said has acted openly and amicably effort facilitate its proposed acquisition adding has not purchased additional supermarkets general stock since prior submission its offer dart said continues interested acquiring supermarkets general friendly manner noting has given the company the tune that you suggested order allow you evaluate the available options dart now owns mln supermarkets general shares slightly less than five pct those outstanding reuter 
earn	decorator industries inc dii qtr net ended jan three shr profit five cts net profit loss revs year shr profit cts loss cts net profit loss revs mln mln note loss per share not given for quarter reuter 
earn	mccormick and inc mccrk qtr net qtr ends feb shr cts cts net revs reuter 
earn	value line inc valu qtr jan shr cts cts net revs mln mln nine months shr dlrs cts net mln seven mln revs mln mln note periods include pretax investment income mln dlrs capital gains distributions from mutual fund investment reuter 
acq	thermo electron tmo considers unit stake sale thermo electron corp said has entered into talks with underwriters the possible public sale minority interest its packaged cogeneration systems subsidiary tecogen inc the company also said plans offer convertible subordinated debentures publicly gave further details reuter 
earn	hongkong bank canada qtr jan net net mln not given note results not comparable with last year due november acquisition bank british columbia subsidiary hongkong and shanghai banking corp reuter 
earn	salant corp qslt qtr nov net oper shr profit cts profit cts oper net profit profit sales mln mln year oper shr profit cts loss dlrs oper net profit loss sales mln mln note year net includes pretax provision for loss sale subsidiary dlrs year net includes pretax loss dlrs from plant closing provision net excludes tax credits dlrs quarter and dlrs year net both periods excludes charge dlrs for estimated settlement and expenses connected with chapter bankruptcy reuter 
money-fx	money market given mln stg late help the bank england said provided the money market with late assistance around mln stg this takes the bank total help today some billion stg and compares with its estimated deficit around billion reuter 
acq	renouf extends benequity holdings offer repeat new york march renouf corp international said has extended the expiration its offer pay dlrs unit buy all outstanding units benequity holdings california limited partnership march from march march renouf said about units had been tendered renouf pointed out this exceeds the minimum number sought the offer but its statement gave reason for the extention benequity has mln units outstanding reuter 
grain	lyng says too late for crop decoupling this year agriculture secretary richard lyng said too late implement full acreage provision decoupling for grain crops think there chance see that legislation passed but not for crops too late lyng told the national grain and feed association convention here lyng added that there seems some support congress for and there was good chance pilot program will passed part pending disaster bill but indicated that already too late the year alter the crop program sign for spring crops closes the end this month overall lyng predicted very little change will legislated the farm bill this year reuter 
earn	salant qslt files reorganization plan salant corp said and its thomson inc and obion inc subsidiaries have filed joint reorganization plan with the bankruptcy court and expect emerge from chapter bankruptcy the near future the company said hearing the adequacy the associated disclosure plan scheduled for april nine and completion the plan subject approval creditors equity security holders and the bankruptcy court salant said has reached agreement for ray williams continue president and chief executive officer for five years from the effective date the reorganization plan and has substantially concluded talks for new mln dlr unsecured credit effective the same date the company said the committee its unsecured creditgors and the committee its equity security holders have approved the terms the plan previously announced creditors will receive mln dlrs cash dlrs pct senior subordinated debentures and four common shares for each dlrsd allowed unsecured claims salant today reported earnings for the year ended november dlrs after dlr pretax provision for loss the sale subsidiary but before dlr post tax charge attributable costs and expenses chapter and the settlement pre chapter claims well dlr tax credit year before lost dlrs after dlr pretax provision for plant closings reuter 
earn	analogic corp alog qtr jan net shr cts cts net revs mln mln half shr cts cts net mln revs mln mln reuter 
trade	west german exports drop sharply west german exports the united states fell below four billion marks worth january for the first time since mid provisional bundesbank data showed the figures showed exports were billion marks january sharply down from december billion and the lowest since the billion exported the july this compared with billion marks january total west german exports western industrialised countries also fell january billion marks from december billion also posting the lowest monthly total since july west german exports the european community were billion marks january down from billion december and billion january last year the figures showed exports developing nations and centrally planned economies also slackened separately commerzbank said report that the focus west german exports this year was likely shift europe because expected downturn growth the dollar area this was one the strengths west german exports compared with japan which depended large part the opec and developing country markets added reuter 
acq	texas air give former continental air holders another dlrs share 
trade	trade interests ready for fight congress lawmakers are gearing for showdown between protectionists and free traders major trade bill winds its way through committees vote the full house representatives late april move toughen enforcement trade laws key house subcommittee last week approved toned down version legislation require president reagan retaliate against foreign countries that follow unfair trade practices this bill will the cornerstone congressional efforts restore competitiveness american industries and turn around last year record billion dlrs trade deficit several lawmakers have argued the new trade bill made too many concessions reagan and said they intend back amendments get tough with countries that violate trade agreements keep out products the other hand congressmen known for their allegiance free trade said the bill ties reagan hands too much trade disputes and they will seek restore his negotiating powers republican bill frenzel michigan said the subcommittee bill was not one that free trader like could endorse all respects but emphasized there was consensus among trade lawmakers work toward bill reagan and republicans would ultimately endorse frenzel said the goal trade legislation was make our trade policy stronger without violating our international trade agreements you find lot people who think have not done the former enough you find poeple who think haven avoided violating agreements key concession made the urging the powerful chairman the house ways and means committee the trade subcommittee backed off requirement that would have forced reagan automatically impose quotas tariffs imports from countries that engage unfair trade practices also agreed may waive any retaliation would hurt the economy ways and means chairman dan rostenkowski illinois democrat insisted the more moderate approach was necessary the house wanted pass bill reagan would sign into law reagan last year had blocked senate consideration tough house trade bill branded protectionist and this year only reluctantly agreed support trade bill when saw democratic leaders were determined pass bill indication his success white house spokesman marlin fitzwater told reporters friday the administration still did not like some provisions but added generally feel very good about the bipartisan consideration the trade legislation think are progressing very well the first battle will take place next week when the full house ways and means committee considers amendment rep richard gephardt missouri democrat force countries such japan south korea and taiwan cut their trade surpluses with the united states the subcommittee limited the gephardt plan provide only that the existence large trade surplus with the united states will trigger investigation unfair trade practices but would not automatically set off retaliation rep phil crane illinois republican and staunch free trader said will try further weaken the gephardt plan organized labor has pressed lawmakers for more relief from imports where jobs have been lost foreign competition afl cio president lane kirkland this year angered the administration statement that any trade bill reagan would sign would not worth passage congress but rostenkowski set the tone the trade debate statement not trying write legislation please lane kirkland trying write legislation that will signed the president writing the bill the subcommittee rejected calls for trade relief for specific industries such textiles rep jenkins democrat from georgia agreed hold off his fight intends push separately bill protect the domestic textile and shoe industry aide said reagan vetoed similar measure last year house speaker jim wright texas democrat one the most influential proponents aid for specific industries beset low priced foreign competition wright thursday renewed his call for import relief for the domestic oil industry and announced his support for senate plan trigger temporary oil import tariff when imports reach half domestic consumption for the most part the trade bill provisions toughen enforcement trade laws the bill forces the administration act rapidly complaints unfair trade practices such dumping products the united states prices below the cost production also forces the administration act rapidly when industry complains that surge imports threatens its existence congressmen said the change would have required the international trade commission impose limits car imports reuter 
earn	endotronics endo expects loss for year endotronics inc said expects incur substantial losses for the second quarter ending march and fiscal year ending sept one factor behind the anticipated loss endotronics cited dispute one its japanese distributors yamaha inc over payment dlr promissory note form filing with the securities and exchange commission endotronics said the note was for overdue accounts receivable from sales instruments yamaha and another japanese distributor during the company fiscal year endotronics said its present reduced level operations will exhaust all currently available cash and credit facilities early may said this assumes full use the remaining dlrs available under line credit from celanese corp which requires approval celanese corp the company said its ability obtain funding was adversely affected suit filed march two its shareholders seeking represent class holders against three officers endotronics endotronics said the complaint against alleges violations the federal securities laws connection with statements made the company annual and quarterly reports the company also said the securities division the minnesota department commerce conducting inquiry into the company japanese sales for fiscal and trading insiders and brokers the company common shares said similar inquiries are being conducted the securities and exchange commission the investigations will hurt the company ability obtain funding said result the dispute over payment the promissory note the law suit challenging its financial data and the various investigations concerning insider trading the company said longer expects that anticipated declines instrument sales japan fiscal will offset increased instrument sales other foreign countries and the united states reuter 
acq	continental air holders get further payment texas air corp said under settlement class action litigation with mutual shares corp former minority shareholders continental airlines inc will receive additional dlrs per share february texas air acquired the minority interest continental that did not already own for dlrs per share mutual had challenged the adequacy the price texas air said any former continental holder who has sought appraisal rights under delaware law may continue seek the appraisal remedy delaware chancery court accept the settlement and drop the appraisal process texas air said the settlement has other terms relating employee shareholdrs continental who will receive options from texas air did not give details the company said the settlement subject approval the delaware chancery court which expected take about days reuter 
earn	lowrance electronics leix sees orders off lowrance electronics inc said results from operations the third and fourth quarter may not comparable the first and second quarters which were strong because orders for new sonar equipment for the six months ended jan the company reported net income almost tripled dlrs cts share sales rose pct mln dlrs the company which went public dec also said expects able fill back orders from the first two quarters because improved supply computer chip components reuter 
earn	capitol bancorp capb restate net loss capitol bancorp said expects restate its results for loss about one mln dlrs due reclassification loans recommended auditor ernst and whinney the company said the restatement also reflects substantial increase reserves its principal subsidiary capitol bank and trust said expects earn dlrs for the first quarter capitol said maintain adequate capital ratio will seek additional equity capital the near future also said has delayed its annual meeting until may due the restatement annual earnings capitol said its board raised the quarterly dividend cts from cts share payable april record march the company originally reported earnings dlrs earned dlrs last year first quarter the annual meeting had been scheduled for the second week april reuter 
money-fx	economic spotlight ems marks eighth birthday the european monetary system marks its eighth anniversary still vulnerable turmoil world money markets despite creating island currency rate stability europe economists say but many economists say the system which holds eight european community currencies within narrow fluctuation bands remains its infancy its new currency the european currency unit ecu has been runaway success with investors and borrowers alike seeking alternative the volatile dollar and wednesday the long term vision the ecu europe common currency took step nearer becoming reality when belgium minted the world first ecu coin but economists say members such west germany have far blocked second stage development envisaged the system founding fathers west german chancellor helmut schmidt and former french president valery giscard estaing under this phase originally due have started two years after the ems was set decision making was have been transferred from national governments and central banks autonomous european monetary fund but members have jealously guarded their sovereignty economic and monetary matters the basic problem the ems that governments are not prepared make the quantum leap situation where certain decisions are taken common said one economist who has closely watched the system development the result that the often divided over policy third currencies accentuating what the economists say the system greatest weakness its vulnerability weak dollar over the past months the dollar plunged and investors moved into strong currencies the resulting sharp rise the west german mark severely strained the system another frustration has been britain failure lend the ems political support keeping the pound still major world currency outside the system change the british government attitude expected before the country next general elections due mid meanwhile the system last realignment the since was set prompted european finance ministers ask the highly secretive monetary committee and committee central bank governors come with suggestions for reinforcing their ideas are due unveiled when finance ministers hold informal meeting belgium early next month but economists said the proposals are unlikely involve more than tinkering with technical details they are sceptical about the chances for any fundamental change technical measures won enough protect the ems against external factors such dollar weakness for that must take the step forward the institutional level said leo corel kredietbank economic research department economists say the system fortunes now will depend largely the success agreement last month among major industrial nations stabilise exchange rates the dollar resumes its slide the ems could for more turbulence they predict reuter 
acq	intermagnetics general inma completes buy intermagnetics general corp said completed the purchase the advanced products department air products and chemicals inc apd terms were not disclosed the department which makes cryogenic equipment will continue operating its present location allentown the company said will market its products apd cryogenics inc reuter 
acq	italy ferruzzi takes over spanish mill italy ferruzzi spa has taken pct stake spanish sunflower seed and cotton mill cooperativa agricola del guadalete guadalco sources guadalco said the italian firm spanish subsidiary ferruzzi espana took the majority equity stake with the remaining pct retained guadalco ferruzzi plans set sugar division and import some tonnes industrial sugar from its french factories its first year operation guadalco has processing capacity tonnes day sunflower seeds and tonnes day raw cotton reuter 
earn	american hoechst corp year net net mln mln revs billion billion note fully owned subsidiary hoechst reuter 
earn	levitt corp lvt qtr net oper shr cts cts oper net revs mln mln year oper shr cts cts oper net revs mln mln note qtr and year excludes extraordinary credit dlrs cts per share reuter 
grain	eep should used tactically yeutter says trade representative clayton yeutter said the export enhancement program eep should used tactical tool and not general policy yeutter made the comment response question whether the should expand the eep cover grain sales the soviet union did not comment directly the soviet question replying that any decision would made the highest levels the reagan administration and don want preempt that yeutter told the national grain and feed association eep should continue used tactical tool against the european community but not general policy said selective eep use has been successful pressuring the reuter 
acq	national pizza piza corrects figure national pizza said the seven straw hat piza restaurants los angeles and bakersfield calif that announced plans buy friday are expected generate annual sales about dlrs not the eight mln dlrs the company originally announced the company said will convert the restaurants pizza hut units closing expected around march reuter 
earn	tbg holdings tgbn year net net profit mln dlrs mln dlrs turnover billion dlrs billion note company lowered nine pct from pct interest rate outstanding subordinated loan for period august july tbg formerly known thyssen bornemisza group reports dlrs since december the start the financial year tbg said the decline profits was mainly caused losses container rental activities reuter 
acq	avaq international seek commitment deal avaq international inc said intends require gates learjet corp glj honor its agreement sell its shares the company avaq said made the statement response offer interconnect capital corp for all gates learjet shares after what believed agreement gates accept its offer avaq said offered pusuant gates guidelines six dlrs per share plus the purchase gates corp promisary note for mln dlrs interconnect said offered dlrs per share plus the repurchase the loan for mlns for aggregate price the mln dlr range interconnect said made the offer the board directors gates learjet march avaq said gates corp and gates learjet approved its offer feb reuter 
earn	standard products std raises quarterly qtly div cts cts prior pay april record april reuter 
earn	aaron spelling productions inc qtr net jan end shr cts cts net revs mln mln half shr cts cts net mln mln revs mln mln note current half net includes dlr charge from reorganization reuter 
earn	cooper lasersonics inc zaps qtr loss period ended january shr loss cts profit one net loss profit sales mln mln avg shrs note prior qtr figures include gain mln dlrs six cts per share from discontinued operations reuter 
earn	diversified industries dei qtr oper net period ended jan oper shr two cts eight cts oper net sales mln mln avg shrs note full name diversified industries inc earnings exclude gains from utilization tax loss carryforwards dlrs one share dlrs six cts share reuter 
earn	golden nugget inc gng qtr loss oper shr loss cts loss cts oper net loss loss revs mln mln avg shrs mln mln year oper shr profit cts profit cts oper net profit profit mln revs mln mln avg shrs mln mln note net excludes debt retirement gain dlrs loss dlrs quarter and losses mln dlrs dlrs year net includes tax crdits dlrs quarter and dlrs year reuter 
earn	oppenheimer industries opp sees year loss oppenheimer industries inc said expects report loss for the year ended january about dlrs compared with profit dlrs year before the company blamed the loss the continuing depression agriculture the discontinuance several programs due the passage the tax bill and the failure close the sale four ranches the california carrizo plains during the year expected the company said the prospective purchaser forfieted dlr deposit said talks new contract reuter 
earn	luby cafeterias inc lub qtr feb net shr cts cts net sales mln mln half shr cts cts net mln sales mln mln note current year net both periods includes dlr gain from land sale share adjusted for three for two split august reuter 
earn	tesco forecasts profits rise this year tesco plc tsco said statement expects pre tax profits mln stg for the year ending february before nine mln stg net property profits this compares with mln stg pretax profits and net mln property sales the previous year said the forecast was its formal offer document sent hillards plc shareholders today march tesco launched mln stg bid for hillards the offer new tesco ordinary shares for every hillards ordinary shares valued each hillards ordinary share reuter 
earn	business computer bcsi had quarter profit business computer solutions inc said expects report profit for the fourth quarter ended february its first quarterly profit ever about dlrs revenues about dlrs year before lost dlrs sales dlrs the company attributed the improved results increased purchases its zfour language and development environment for computer software business computer said expects report full year loss about dlrs sales about dlrs last year lost dlrs revenues dlrs reuter 
money-fx	fed says sets three day system repurchase agreements 
earn	mays inc mays qtr jan net shr dlrs cts net revs mln mln six mths shr dlrs three cts net revs mln mln note current periods include pretax gain mln dlrs from sale leasehold glen oaks store queens and gain mln dlrs from benefit tax loss carryforwards year ago six mths includes gain dlrs from refund prior year real estate taxes reuter 
earn	circus circus enterprises cir qtr net oper shr cts cts oper net revs mln mln year oper shr cts one dlr oper net revs mln mln note current qtr and year figures exclude extraordinary losses early debt retirement mln dlrs five cts per share and mln dlrs cts per share respectively full name circus circus enterprises inc reuter 
earn	national fuel gas nfg sets mail date national fuel gas said its mail date for its previously announced two for one stock split june the company which announced the split last week had said the record date for the split may reuter 
acq	comtech cmtl sell premier microwave comtech inc said agreed principle sell pct its outstanding shares premier microwave corp for seven mln dlrs said the buyers include investment group composed the unit management the company said expects the sale close the next few weeks proceeds will used reduce debt reuter 
acq	investment firms have pct purolator pcc group affiliated new york base investment firms and funds told the securities and exchange commission they have acquired shares purolator courier corp pct the total outstanding the group led mutual shares corp said bought the stock for investment purposes also said studying the dlr share leveraged buyout offer made purolator managers and hutton lbo inc but has not decided whether will tender its stock the offer the group said has held talks with the hutton lbo group before and may again reuter 
earn	tofutti brands tof sees profit for new year tofutti brands inc said changing its fiscal year calendar year from year ending july and expects profitable higher sales the company lost dlrs sales mln dlrs the year ended july company spokesman said tofutti will reporting earnings for the last five months calendar the end march and will then report calendar first quarter results reuter 
earn	digitech inc dgtc qtr jan net shr two cts eight cts net revs avg shrs reuter 
earn	cabot medical corp cbot qtr jan net shr four cts two cts net revs reuter 
earn	amerihealth inc ahth qtr loss oper shr loss one loss cts oper net profit loss revs year oper shr loss six cts loss cts oper net profit loss revs mln mln note net excludes tax credits dlrs quarter and dlrs year and gains termination pension plan dlrs quarter and dlrs year share after preferred dividends reuter 
earn	cambridge analytical caan sees first qtr loss cambridge analytical associates inc said expects incur loss for the first quarter fiscal equal greater than its loss dlrs for the fourth quarter ended december cambridge said expects revenues for the first quarter approximately the same those recorded for the fourth quarter ended december dlrs cambridge recorded profit dlrs revenues dlrs for the first quarter fiscal the company said the company attributed the expected loss lower than expected sales from its laboratory and consulting business and planned major investment its proprietary treatment technology the company said winter traditionally its slowest season reuter 
acq	seton sel gets buyout offer from chairman seton said its board has received proposal from chairman and chief executive officer philip kaltenbacher acquire seton for dlrs per share cash seton said the acquisition bid subject kaltenbacher arranging the necessary financing said intends ask other members senior management participate the company said kaltenbacher owns pct seton stock and other management members another pct seton said has formed independent board committee consider the offer and has deferred the annual meeting had scheduled for march reuter 
earn	mrs fields plans open more stores based speciality food retailer mrs fields inc which earlier announced pre tax profits mln dlrs against mln said plans further growth this year with the opening new stores the the company which quoted london unlisted securities market usm said also planned expand its outlets internationally however chairman randall fields told news conference the company would not move into any new countries during but would intensify its efforts where already had stores during the company opened new stores including the two australia and one each japan canada and the intend open minimum five more units london for example and reasonable that might open other stores other european countries fields said said the company acquired competitive businesses matter routine and might add others but declined say how much the company planned spend them last year turnover rose pct mln dlrs from mln dlrs reuter 
earn	biotechnology development biod qtr loss shr loss five cts loss cts net loss loss revs year shr loss cts loss cts net loss loss revs reuter 
earn	hechinger hech qtr net shr primary cts cts shr diluted cts cts net sales mln mln year shr primary cts cts shr diluted cts cts net mln mln sales mln mln reuter 
acq	metex mtx chairman sells shares metex corp said its chairman and chief executive officer alan cohen sold shares metex common stock metropolitan consolidated industries inc mony the company said the selling price was dlrs per share with option for metropolitan consolidated industries purchase shares more the same price metex also said mason carter was elected president and chief operating officer the company carter joined metex where was formerly its executive vice president addition attilio petrocelli president metropolitan was named fill vacancy the metex board directors the company said metropolitan owns pct metex common stock the company said reuter 
acq	american security asec release information american security corp said release will forthcoming shortly regarding its pending merger with maryland national corp mdnt approved its stockholders october american was halted nasdaq pending news announcement reuter 
earn	svenska cellulosa scab year group profit after net financial items billion crowns billion sales billion crowns billion profit per share crowns proposed dividend five crowns reuter 
earn	royal trust plots aggressive global expansion royal trustco ltd move unique among canadian trust companies pursuing bold global expansion that could someday lift the foreign share its yearly earnings pct president michael cornelissen said first marathon securities ltd financial services analyst michael walsh said royal trust international growth target attainable but will tremendous achievement because they going have build international earnings base larger than the earnings lot significant domestic trust companies walsh said global operations which made pct royal trust mln dlr net profit will post pct profit growth this year against expected pct jump total company profit cornelissen told reuters interview said the foreign share total profit would rise pct and pct royal trust canada second largest trust company with assets about billion canadian dlrs has operated internationally since when opened london bank its aggressive global strategy began the when other canadian trusts the equivalent savings and loans were focusing domestic retail banking the company overseas ambitions were whetted heightened domestic competition and impressive growth its london bank operations which attained full british banking powers cornelissen said last year royal trust moved into continental europe and asia with its mln canadian dlr acquisition dow chemical dow dow financial services corp which included asset management merchant and private banking companies was heaven sent opportunity cornelissen said the dow financial acquisition achieved one year what would otherwise have taken five years set cornelissen stressed that royal trust would shun direct competition with major global financial institutions activities such international lending and stock brokerage order exploit profitable niches overseas traditional trust activities such asset management private banking and advisory services said that royal trust hoped complete negotiations before the end this month sell its london based savory milln brokerage acquired the dow financial deal the international market big and have such miniscule share that growth opportunities are really limited only our energy and our desire find more business said adding that trust type services don think the international markets are well served aiding royal trust foreign growth are greater foreign investment interest north america and increased canadian investment abroad cornelissen said central royal trust strategy asia boasting rapid economic growth and huge pools japanese capital said cornelissen whose company administers assets billion dlrs more than any other canadian trust citing statistics indicating that the year asia will contain two thirds the world population and pct global productive capacity cornelissen said knew had there royal trust international locations include offices tokyo hong kong and singapore the company also recently listed its shares the tokyo stock exchange the royal trust president said the company was stressing growth within its overseas units adding did not foresee any acquisitions the immediate future although have our eyes wide open for the right opportunities asked about royal trust plans for the which the company abandoned with the sale its florida bank units cornelissen said the company faced trust services market well covered hundreds small regional banks that doesn mean say shouldn the said cornelissen that probably one area that will probably something with the next five years said the company would continue emphasize its home canadian market which cornelissen and financial services analysts agreed would remain vital royal trust proposed government regulations allow canadian banks trusts insurance and securities dealers full participation one another actitivies will mean more domestic competition for royal trust but not drastically more cornelissen said reuter 
earn	salomon raises caterpillar cat opinion salomon brothers inc said raised its opinion caterpillar inc stock aggressive buy from hold because brighter earnings outlook for salomon analyst david sutliff said statement sees earnings dlrs share from earlier forecast three dlrs for the year the outlook for remains dlrs three dlrs caterpillar stock was down points although earnings will poor for the next two quarters believe that profits could begin improve the second half perhaps significantly and should surge sharply through and said sutliff said improved results should come from four factors higher prices improved market share reduced costs and improved demand the higher prices will stick because its japanese competitor komatsu has had raise prices because the increased value the yen said reuter 
earn	rockwood holding rkwd qtr net shr profit cts loss cts net profit loss revs mln mln year shr profit dlrs loss dlrs net profit mln loss eight mln revs mln mln note includes extraordinary gains cts per share and cts the fourth quarter and respectively reuter 
trade	canada prime minister says major trade deal emerging with 
acq	forum four ends beverly bev purchase deal forum group inc said has terminated its agreement principle buy eight retirement living centers six states from beverly enterprises due failure reach satisfacotry definitive agreement reuter 
earn	fbx corp fbxc year nov net shr cts three cts net revs mln mln reuter 
earn	cooper canada ltd year net shr cts cts net revs mln mln reuter 
earn	tab products tbp qtr feb net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
earn	markel corp makl qtr net shr cts cts net revs mln mln year shr dlrs cts net revs mln mln reuter 
earn	science accessories corp seas qtr net qtr ends jan shr two cts two cts net revs reuter 
trade	french adjusted february trade deficit mln francs january deficit billion 
ship	biffex members ballot merger members the baltic international freight futures exchange biffex are balloted the end this week whether will merge with the london commodity exchange come under new umbrella baltic futures exchanges biffex official said the final decision will left with the biffex board which will meet the end this month said last week three exchanges currently trading the baltic exchange the london potato futures association the gafta soya bean meal futures association and the london meat futures exchange instructed legal advisers implement merger reuter 
earn	machine technology mtec sees qtr loss machine technology inc said expects report second quarter loss cts per share sales about dlrs year earlier lost dlrs three cts per share sales dlrs the company said booked over six mln dlrs the quarter and its backlog has risen pct since the end its fiscal year leading expect improved results the second half reuter 
earn	docugraphix inc docx qtr jan loss shr loss six cts loss cts net loss loss revs avg shrs mln mln nine mths shr loss cts loss cts net loss loss revs avg shrs mln mln reuter 
earn	nbd bancorp nbd regular dividend set qtly div cts cts previously pay may record april nine reuter 
acq	triangle microwave trmw talks buyout triangle microwave inc said involved talks its possible purchase substantial company did not identify triangle said agreement has yet been reached and there can assurance that one will reached any acquisitioon would subject approval its shareholders and regulatory filings said triangle microwave makes microwave system components and had earnings for the first half ended january dlrs sales dlrs from earnings dlrs sales dlrs year before reuter 
trade	canada mulroney says trade deal nears prime minister brian mulroney said significant progress was being made trade talks with the united states and profile major deal was emerging opening debate free trade the house commons mulroney said accord would create thousands jobs canada and bring greater economic prosperity both countries mulroney who offered few new details the talks said that while the negotiations were risky and difficult profile major trade deal now emerging minute address mulroney made often passionate defense the initiative that said would give poorer areas the country major economic boost because our trading patterns over period decades are the process building two canadas one that rich and promising one that under developed and under employed said mulroney what want make sure newfoundlanders and british columbians and albertans and others that they get their chance they must given the opportunity trade their way prosperity few detials have been released the trade talks which were launched nearly two years ago between the two nations that are each others most important trading partners recent published reports canada quoting senior trade sources said the countries were close reaching trade deal and will involve eliminating border trariffs and many non tariff barriers over the next years has been reported key stumbling block the talks canadian proposal find new way settle trade disputes something that would give canada protection from washington tough trade remedy laws but mulroney sharply critical protectionist sentiment the said canada was fair trader and denied the government was pursuing the deal win unfair access the american market said trade deal must bring benefits both sides recognize good deal must fair deal one that fair both sides mulroney said reuter 
trade	france reduces trade deficit february france posted seasonally adjusted trade deficit mln francs february after billion franc deficit january the finance ministry said for the first two months this year the trade deficit seasonally adjusted basis was billion francs unadjusted the february deficit was billion francs and the two month cumulative deficit billion the ministry said statement the ministry said february exports totalled billion francs pct increase january while imports totalled billion francs increase pct farm and food trade showed two billion franc surplus after surplus billion january the energy deficit was reduced billion francs from eight billion january while industrial trade showed surplus billion francs against only mln francs january reuter 
earn	ncr ncr sees good chance for record year net ncr corp very optimistic that will post record revenues and profits for charles exley chairman and president said much our considerable optimism about the future based the strength continuing flow new products exley told meeting securities analysts our current position the strongest modern ncr history with new generation offerings deliverable every major category this year for ncr earnings rose nine pct dlrs share sales that increased pct billion dlrs during the balance exley said ncr will pay close attention increasing its penetration major accounts expanding its third party distribution channels and continuing its introduction new products new products introduced within the proceding months accounted for more than pct our major equipment order activity said the end two months added can say are off good start for reuter 
acq	equitable banc ebnc boss has ameritrust stake group controlled equitable bancorp chairman alfred lerner said has acquired pct stake ameritrust corp amtr and may buy pct obtains regulatory approval filing with the securities and exchange commission the group said bought its stake mln ameritrust common shares for mln dlrs investment but the group acting through clevebaco cleveland partnership also said would seek regulatory approval increase its stake lerner owns clevebaco corp which the general partner clevebaco the lerner group said filed with the federal reserve board march notice its intent buy more than pct the common stock ameritrust cleveland bank holding company the fed approves lerner whose equitable bancorp also cleveland said intends buy more ameritrust stock subject market conditions and other factors since lerner heads bank holding company with assets greater than one billion dlrs said barred law from serving director officer ameritrust having his representatives its board lerner said has intention influencing ameritrust management its policies the group said clevebaco bought one mln its shares from bear stearns and inc march dlrs share lerner said accumulated the other one mln shares through march and sold them clevebaco which controls march for dlrs share reuter 
acq	american security asec buyout completed maryland national corp mdnt said has completed the acquisition american security corp exchange maryland share for each american mln shares outstanding the company said the mandatory day review the justice department was completed today maryland national said american security shareholders will entitled receive the per share maryland national regular quarterly dividend that payable march holders record today reuter 
acq	rainier rban completes acquisition rainier bancorp said completed the acquisition tacoma wash based united bank for mln dlrs worth rainier stock united savings bank with mln dlrs assets and offices will operate wholly owned subsidiary rainier said rainier which last month agreed merge with security pacific corp spc said the united acquisition will increase its assets billion dlrs from the billion reported the end reuter 
earn	franklin resources inc ben sets quarterly qtly div six cts six cts prior pay april record march reuter 
earn	general cinema gcn sees flat net general cinema corp said expects flat net income for fiscal ending oct against mln dlrs dlrs share year ago the company said the costs restructuring its carter hawley hale stores inc unit and the previous purchase pct stake cadbury schweppes plc will lead the flat net figure also said may raise its stake cadbury schweppes pct but has not made any additional stock purchases far according the restructuring carter hawley plans spin off its specialty stores including neiman marcus bergdorf goodman and contempo casuals into new company named neiman marcus group whose shares will trade the new york stock exchange said previously announced general cinema will own pct the equity and pct the voting shares the new company the restructuring subject approval carter hawley shareholders reuter 
earn	teeco properties sets cash distribution qtly distribution cts per unit cts prior pay april record march reuter 
earn	radix ventures inc qtr jan loss shr loss three cts loss cts net loss loss revs mln mln six mths shr profit nil loss cts net profit loss revs mln mln reuter 
earn	adobe systems inc adbe qtr feb net shr cts six cts net revs avg shrs note prior qtr per share figure adjusted for two for one stock split february reuter 
acq	armtek arm completes sale assets armtek corp formerly armstrong rubber completed the previously announced sale its natchez miss tire plant and other assets condere corp condere said condere formed acquire the armstrong assets said named dennis terwillger formerly vice president and controller armstrong tire division president reuter 
earn	data systems inc toot qtr jan net shr three cts four cts net revs reuter 
earn	vishay vsh sets two pct stock dividend vishay intertechnology inc said its board declared two pct stock dividend payable april holders record march the company said the stock dividend will paid only holders commons tock who not exchange for class stock vishay current exchange offer which expires march reuter 
earn	onyx petroleum exploration ltd year loss shr loss dlrs profit cts net loss profit revs note shr and net after dlr writedown oil and gas property values reuter 
earn	integrated circuits ictm sets record date integrated circuits inc said set march the record date for its previously announced pct stock dividend the company said will distribute the dividend march reuter 
earn	msa realty corp sss qtr net shr profit four cts loss two cts net profit loss revs avg shrs year shr profit cts loss cts net profit loss revs mln avg shrs note qtr and net includes loss dlrs and gain dlrs respecitvely for extraordinary item net assumes all warrants exercised for the qtr only the adjustment second quarter income for earnings per share was dlrs reuter 
earn	lear petroleum partners lpp qtr loss oper shr loss nil loss nil oper net loss loss revs nil nil avg shrs mln mln year oper shr loss two cts loss two cts oper net loss loss revs nil nil avg shrs mln mln note net excludes losses from discontinued oil and natural gas operations mln dlrs dlrs quarter and mln dlrs mln dlrs year company sold all its operations the end reuter 
earn	westronic inc wstx year loss shr loss dlr loss dlrs net loss loss revs reuter 
earn	kenan transport ktco sets quarterly qtly div four cts four cts prior pay april record march reuter 
earn	gencorp qtr shr cts cts 
earn	magnetic technologies corp mtcc half net jan end shr not given net profit loss sales reuter 
earn	gencorp qtr feb net shr cts cts net mln mln sales mln mln reuter 
acq	safety kleen buy stake oil refiner safety kleen corp said has tentatively agreed buy pct stake breslube enterprises toronto for mln dlrs stock cash and equipment price includes mln dlrs safety kleen common stock cash and rerefining plant owned safety kleen closing the deal expected may breslube leading rerefiner used lubricating oils north america collecting used oils from auto garages car dealers and other businesses refined mln gallons used oil reuter 
trade	trade interests ready for battle house lawmakers are gearing for showdown between protectionists and free traders major trade bill winds its way through committees vote the full house representatives late april move toughen enforcement trade laws key house subcommittee last week approved toned down version legislation require president reagan retaliate against foreign countries that follow unfair trade practices the bill will the cornerstone congressional efforts restore competitiveness american industries and turn around last year record billion dlrs trade deficit generally the bill provisions toughen enforcement trade laws the trade bill forces the administration act rapidly complaints unfair trade practices such dumping products the united states prices below cost production also forces the administration act rapidly when industry complains that surge imports threatens its existence writing the bill the subcommittee rejected calls for trade relief for specific industries such textiles several lawmakers have argued the new trade bill made too many concessions reagan and said they intend back amendments get tough with countries that violate trade agreements keep out products but congressmen known for their allegiance free trade said the bill ties reagan hands too much trade disputes and they will seek restore his negotiating powers bill frenzel said the subcommittee bill was not one that free trader like could endorse all respects but emphasized there was consensus among lawmakers work toward bill reagan and republicans would ultimately endorse the goal trade legislation was make our trade policy stronger without violating our international trade agreements said key concession made the urging ways and means committee chairman dan rostenkowski the trade subcommittee backed off requirement that would have forced reagan impose automatically quotas tariffs imports from countries that engage unfair trade practices also agreed the president may waive any retaliation would hurt the economy rostenkowski insisted the more moderate approach was necessary the house wanted pass bill reagan would sign into law reagan last year blocked senate consideration tough house trade bill branded protectionist and this year only reluctantly agreed support trade bill when saw democratic leaders were determined pass such legislation white house spokesman marlin fitzwater told reporters late last week that the administration still did not like some the bill provisions but added generally feel very good about the bipartisan consideration the trade legislation think are progressing very well the first battle will take place next week when the full house ways and means committee considers amendment rep richard gephardt force countries like japan south korea and taiwan cut their trade surpluses with the the subcommittee limited the gephardt plan provide only that the existence large trade surplus with the united states will trigger investigation unfair trade practices but would not automatically set off retaliation organized labor has pressed lawmakers for more relief from imports where jobs have been lost foreign competition afl cio president lane kirkland this year angered the administration when said any trade bill reagan would sign would not worth passage congress but rostenkowski set the tone the trade debate saying not trying write legislation please lane kirkland trying write legislation that will signed the president rep jenkins intends push separately bill protect the domestic textile and shoe industry aide said reagan vetoed similar measure last year house speaker jim wright texas one the most influential proponents aid for specific industries beset low priced foreign competition last week renewed his call for import relief for the domestic oil industry and announced his support for senate plan trigger temporary oil import tariff when imports reach half domestic consumption reuter 
earn	magnetic technologies mtcc sees improvement magnetic technologies corp said expects the second half show continued growth earnings and sales the company today reported profit for the first half ended january dlrs compared with year earlier loss dlrs sales dlrs from dlrs all last year magnetic earned dlrs after loss from discontinued operations dlrs sales dlrs reuter 
earn	welbilt corp welb qtr net shr cts cts net revs mln mln avg shrs year shr dlrs dlrs net mln revs mln mln avg shrs reuter 
earn	satellite music network inc smni year net oper shr four cts three cts oper net revs mln avg shrs note net excludes tax credits dlrs dlrs reuter 
earn	combined int ask doubling authorized shares stock split 
earn	canbra foods ltd sets special one time five dlr common shr cash payout 
earn	canbra foods ltd year oper shr profit dlrs loss cts 
earn	wilson foods corp wilf qtr jan net oper shr profit cts loss cts oper net profit loss sales mln mln half oper shr profit cts loss dlrs oper net profit loss mln sales mln mln note prior half net includes pretax charge mln dlrs from plant closings and workforce reductions current year net excludes tax credits dlrs quarter and dlrs half reuter 
earn	canbra foods ltd year net oper shr profit dlrs loss cts oper profit loss revs not given note shr and net exclude extraordinary gain dlrs cts share sale stafford foods unit reuter 
earn	oxford first corp ofc qtr net oper shr cts cts qtly div six cts six cts prior oper net revs year oper shr dlrs one dlr oper net revs mln mln note net excludes losses from discontinued operations dlrs dlrs quarter and dlrs dlrs year dividend pay may five record april share adjusted for three for two stock split reuter 
earn	harris teeter properties htp reports earnings harris teeter properties inc reported fourth quarter fiscal earnings per share cts earnings dlrs the realty investment trust company started operations august and had comparable figures said reuter 
earn	bsn corp bsn qtr net shr two cts eight cts net revs mln avg shrs year shr cts cts net revs mln mln avg shrs note year net includes extraordinary gain one shr and gain two cts from cumulative effect accounting change reuter 
earn	bsn bsn sees higher net bsn corp said expects revenues about mln dlrs and substantial increase net income and earnings per share for today reported net income dlrs cts per share revenues mln dlrs from dlrs cts per share revenues mln dlrs year before reuter 
earn	combined int pma holders vote split combined international corp said will ask shareholders the april annual meeting approve the doubling authorized common shares mln holders will also vote proposal create new class mln shares serial preferred stock one dlr par value place its existing classes authorized and unissued preferred stock said its regular march board meeting members will consider stock split stock dividend which would contingent upon stockholder approval the changes the capital structure the april annual meeting holders will also asked approve new corporate name aon corp said aon gaelic word meaning unit the name intended eliminate confusion between the parent company and its principal subsidiary combined insurance america holders will also vote proposal limit the liability directors and amend the provision for indemnifying directors officers employees agents this being done reduce the costs liability insurance reuter 
earn	canbra foods sets special five dlr shr payout canbra foods ltd earlier reporting net profit against year ago loss said declared special one time dividend five dlrs per common share pay march record march canbra said set the special payout allow shareholders participate the gain the sale unit stafford foods ltd november well the company unusually profitable performance canbra earlier reported net earnings mln dlrs excluding mln dlr gain the stafford sale compared year ago loss mln dlrs reuter 
earn	advance circuits inc advc qtr feb net oper shr profit one cts loss cts oper net profit loss revs mln mln six mths oper shr loss cts loss cts oper net loss loss revs mln mln note results exclude credits cts shr for both periods from refinancing debt reuter 
earn	commonwealth mortgage cma sets payout qtrly div cts class cts qtrly div one cent class nil pay may record march note prior qtr pro rated day basis for abbreviated qtr full name company commonwealth mortgage america reuter 
earn	bkla bancorp dec year net shr cts cts net loans mln mln deposits mln mln assets mln mln reuter 
earn	precision target marketing ptmi qtr net qtr ends jan shr profit one loss two cts net profit loss revs nine mths shr profit five cts loss cts net profit loss revs note full name precision target marketing inc nine months includes extraordinary gain two cts per share reuter 
acq	cheyenne software chey acquisition talks cheyenne software inc said preliminary talks the acquisition compouter hardware distribution firm components inc and its freeman owings inc subsidiary the company said had sales mln dlrs for and expects report loss for the year cheyenne said the purchase price would paid common stock and would provide additional finances for the operation reuter 
acq	hudson valley patrol agrees buy guard firm hudson valley patrol inc said agreed acquire privately held federal protection services inc palm beach fla security firm for common shares and other considerations hudson valley which provides guard and patrol services upstate said federal protection services provides investigation uniformed guard and armoured truck services banks corporations and residential communities southern florida the company said will issue shares its common closing and additional shares based federal protection pretax earnings over the next three years closing subject setting definitive agreement said reuter 
earn	amcast industrial corp acst qtr march one shr profit cts loss dlrs net profit loss mln sales mln mln avg shrs half shr profit cts loss dlrs net profit loss mln sales mln mln avg shrs reuter 
earn	scientific systems services inc sssv qtr shr profit four cts loss cts net profit loss revs year shr profit two cts loss dlrs net profit loss revs mln mln reuter 
earn	skippers inc skip semi annual dividend semi annual div four cts four cts pay april record april reuter 
earn	ziegler inc zegl sets quarterly qtly div cts cts prior pay april record april reuter 
acq	banking center tbcx make acquisition banking center said has signed letter intent acquire first railroad mortgage from first union bank augusta for undisclosed terms the company said first railroad had loan production over mln dlrs and was servicing over mln dlrs loans the end reuter 
acq	san paolo torino acquire californian bank italian state bank istituto bancario san paolo torino said its fully owned san paolo holding wilmington the had signed letter intent acquire valley national bank california san paolo said statement that subject obtaining official authorization from the relevant bodies would merge valley national bank with its subsidiary first los angeles bank value the planned acquisition was not disclosed reuter 
grain	senator uncommitted offering bill senator richard lugar indiana ranking republican the senate agriculture committee has not decided whether introduce administration backed bill apply the called provision through grain crops aide the senator said the reagan administration has asked lugar offer the measure the aide said however number farm groups have told lugar they oppose the proposal the grounds would reopen the farm bill and the senator has decided take second look the proposal the aide said last week the aide indicated lugar was planning offer the measure and bill tighten payment limitation loophole reuter 
acq	international fine foods makes acquisition international fine foods inc said has acquired distributors inc west babylon for common shares plus contingent shares based future earnings distributes fresh squeezed juices and had loss sales about one mln dlrs its first year operation reuter 
earn	united tote inc tote qtr jan net shr profit nil loss cts net profit loss revs reuter 
earn	seven oaks qpon telemarketing venture seven oaks international inc said has formed new pct owned subsidiary called seven oaks direct inc offer full line telemarketing services said seven oaks direct management will own the remaining pct the company said initial costs connected with the startupo new memphis tenn marketing center for seven oaks direct may hurt earnings slightly the first half the year ending april but seven oaks direct should operate worse than breakeven for fiscal whole reuter 
earn	quadrex corp quad qtr jan loss shr loss eight cts loss cts net loss los revs mln mln year shr loss cts loss cts net loss loss revs mln mln reuter 
earn	philip crosby associates pca earnings delayed philip crosby associates inc said its fourth quarter and annual earnings report will delayed two more weeks the company cited the recent house embezzlement and subsequent review auditors its international situation reason for the delay philip crosby however said believes its december estimate calling for earnings per share between cts and cts revenues mln dlrs was still valid reuter 
earn	united tote inc tote qtr jan net shr nil loss cts net profit loss revs reuter 
earn	new plan realty trust npr qtr net qtr ends jan shr cts cts net revs avg shrs mln mln six mths shr cts cts net revs mln mln avg shrs mln mln note earnings were restated reflect the three for two stock split april one reuter 
acq	schlumberger says terminates pact sell fairchild semiconductor business fujitsu 
acq	lynch corp lgl unit buys television station lynch corp subisidiary lynch entertainment corp said formed general partnership called coronet communications which has acquired whbf station rock island ill the company said the price for the station cbs television network affiliate was mln dlrs the company also said the other partner lombardo communications inc wholly owned corporation phillip lombardo lynch said will pursue further acquisitions media and entertainment entities with emphasis broadcasting and cable television operations reuter 
acq	schlumberger slb ends pact sell fairchild schlumberger ltd said terminated agreement principle for fujitsu ltd buy pct its fairchild semiconductor operations the company said the rising political controversy the concerning the venture made unlikely that the sale the fairchild stake could completed within reasonable time the sale has been opposed the commerce department and the defense department part national security grounds the company said termination the agreement opened other possibilities including possible leveraged buyout the semiconductor maker fairchild management the interim fairchild would continue its ongoing business within schlumberger the oilfield services concern said last october schlumberger announced the sale the fairchild stake and said would take mln dlrs charge the fourth quarter from the sale the company ended recording special charges billion dlrs the fourth quarter leading loss billion dlrs for the year schlumberger never announced price for the sale but industry analysts have estimated the value the deal about mln dlrs the proposed sale was under antitrust review the justice department additionally commerce secretary malcolm baldridge and other officials have voiced reservations about the transaction since was announced government officials have expressed concern that the sale could reduce the competitiveness chip makers putting key advanced technology into japanese hands new high technology semiconductors are used supercomputers which are faster and more powerful than existing computers schlumberger oilfield services company controlled french interests and headquartered new york fujitsu ltd computer and telecommunications company based japan reuter 
earn	henley group heng sets fisher distribution henley group inc said declared special dividend distribution one fisher scientific group inc share for every henley shares previously said would pay one fisher share for every outstanding but changed the ratio because the reduction its outstanding shares mln from mln said the distribution about pct fisher common stock will made april six holders record march fisher will trade nasdaq under the symbol fshg reuter 
earn	gencorp qtr operating earnings rose gencorp said its first quarter earnings from operations rose four pct sales increased six pct mln dlrs from mln year earlier however the company reported net income declined mln dlrs cts share the quarter ended february from mln dlrs cts year earlier this year net included dlrs from the sale assets while last years was increased mln dlrs such sales gencorp said lower operating profits for the tire and plastics and industrial products segments were essentially offset higher wallcovering results reuter 
earn	mccormick and inc mccrk qtr feb net shr cts cts net revs mln mln reuter 
acq	twa said does not intend seek control usair acquire more stock this time 
earn	telequest inc telq qtr dec loss shr loss nine cts profit cts net loss profit sales avg shrs year shr profit one profit cts net profit profit sales mln mln avg shrs reuter 
earn	amcast industrial corp acst qtr net qtr ends march one shr profit cts loss cts net profit loss mln revs mln mln avg shrs six mths shr profit cts loss net profit loss mln revs mln mln avg shrs note figures for qtr and year prior include pre tax restructuring charge mln reuter 
earn	chicago dock and canal docks qtr net period ended jan shr cts cts net nine mths shr dlrs cts net note full name chicago dock and canal trust nine months earnings include gain from dispositions real estate dlrs dlrs share reuter 
acq	mcgraw hill mhp buys harper row hpr unit mcgraw hill inc said bought medecines sciences internationales french healthcare publisher from harper and row publishers inc the sum the deal was not disclosed said the french company publishes original titles french authors well translations american british and german medical books the company will consolidated with mcgraw hill france said reuter 
earn	infinite graphics infg sees higher qtr infinite graphics inc expects earnings for the fourth quarter ending april exceed the dlrs seven cts share posted year ago chairman clifford stritch told meeting financial analysts stritch also said the company annual revenues should exceed mln dlrs from mln dlrs the previous fiscal year said the company which markets advanced computer aided engineering design and manufacturing systems plans double its dealers during the coming fiscal year reuter 
acq	suburban bancorp subba unit wins judgment suburban bancorp said cook county circuit court ruled favor one its companies suburban bancorp bartlett formerly bartlett state bank claims against six former directors suburban bank barlett claimed that the former directors breached their fiduciary duties and were negligent opposing suburban bancorp tender offer january costing bartlett state bank several hundred thousand dollars said hearing determine the amount damages owed the bank was set for april reuter 
earn	affiliated publications inc afp sets payout qtrly div eight cts eight cts prior pay june record may reuter 
earn	franklin resources inc ben qtly dividend shr six cts six cts prior qtr pay april record march reuter 
acq	twa files application seeking right raise usair stake pct 
acq	coopervision has pct cooper laser zaps coopervision inc eye told the securities and exchange commission has acquired shares cooper lasersonics inc pct the total outstanding common stock coopervision said bought the stake for mln dlrs for investment purposes said might buy additional cooper lasersonics common shares but said does not plan boost its stake above pct the total outstanding reuter 
acq	dna medical dnam signs pact for stock sale dna medical inc said walter mize had bought about shares about pct dna outstanding stock for dlrs cash under agreement with mize dna said will also become chairman and may his option expand the board provide him equal representation with the current board dna also said will submit proposal its annual meeting for acquire three companies owned mize heritage lite meat corp national lean beef corp and heritage cattle corp dna said the total value the transactions dlrs dna said that when the transactions are approved its shareholders will issue additional shares its common that mize will own pct its issued and outstanding stock dna said mize will replace its current chairman donald holbrook who will remain the board the company also said will continue the medical development business long deemed advantageous reuter 
earn	canadian roxy petroleum ltd year net shr profit five cts loss cts net profit loss revs mln mln reuter 
acq	cityfed ctyf sell consumer lending offices cityfed financial corp said its city federal savings bank has preliminary agreement sell consumer lending offices goldome fsb for undisclosed terms goldome the largest mutual savings bank the cityfed said decided sell its consumer lending offices outside its main market areas new jersey and florida concentrate its resources these markets the offices being sold operate under the name city consumer serices inc arizona colorado illinois maryland new mexico oregon and virginia reuter 
acq	trans world airlines twa files usair trans world airlines said told the securities and exchange commission does not intend seek control usair group acquire more its stock this time twa also said amending its application with the department transportation seek control usair the amendment said twa reserves the right seek control usair the future that intends maintain its pct stake and that also seeking the flexibility acquire pct usair twa said all usair stock owned would voting trust and voted the same proportion the vote all other usair shareholders twa filed with the securities and exchange commission reporting its holding shares usair twa has said the stake amounts about pct twa also said that order the federal court pittsburgh temporarily barred from buying additional shares usair pending hearing march reconsider usair application expand the temporary restraining order preliminary injunction reuter 
acq	first bank fbs agrees sell another bank first bank system inc said has found potential buyer for first bank luverne and its office pipestone minnesota the bank holding company said holding corporation controlled the family the late robert short will buy first bank luverne the bank has mln dlrs assets first bank which announced plans restructure its banking assets offering sell its banks with total offices said agreements have now been signed for these offices reuter 
acq	american international petroleum buy assets american international petroleum corp aipn said agreed acquire for one mln dlrs the assets western louisiana oil and gas company american international would not identify the company american said assets included nine leases totalling acres various working interests oil and gas wells that property all equipment and machinery necessary for operation and pct interest nine mile gas pipeline reuter 
earn	three departments inc tdd qtr jan shr four cts cts net revs mln mln six mths shr cts cts net revs mln mln reuter 
earn	consolidated pipe lines year net shr dlrs dlrs net revs mln mln reuter 
earn	newcor inc new qtr jan net shr profit four cts loss cts net profit loss sales mln mln reuter 
earn	skyline corp sky qtr feb shr cts seven cts net sales mln mln nine mths shr cts cts net sales mln mln note quarter and nine month earnings includes gain sale idle facilities dlrs four cts share nine months earnings include gain sale idle facilities dlrs three cts share reuter 
earn	tech data corp tecd qtr ends jan net shr cts cts net revs mln mln avg shrs mths shr cts cts net revs mln mln avg shrs reuter 
trade	brazil trade surplus rises february the trade surplus doubled february mln dlrs from january mln but was below the mln february official figures show the director the banco brasil foreign trade department cacex roberto fendt told reporters the upturn february confirmed rising trend exports which totalled billion dlrs against billion january and after excluding coffee and oil derivitives was only slightly below the same month last year coffee earnings were down mln dlrs against mln february because lower prices added fendt said that although the february results were lower than the average expected for the rest the year the government target eight billion dlr surplus for should achieved this would compare with surplus billion dlrs exports this year are expected total billion dlrs and imports billion added exports totalled billion dlrs and imports billion fendt said the rise imports february billion dlrs from billion february last year was line with government plans foster economic growth fendt said that imports were running levels well above the traditional average for brazil the first two months the year imports excluding oil and wheat totalled billion dlrs against billion the same period this rise import demand reflected the needs brazilian industry equip raise production and perfectly compatible with the government program for economic growth fendt added reuter 
acq	armtek arm unit leveraged buyout completed condere corp formed former managers armtek corp said completed the acquisition tire plant and other assets armtek for undisclosed terms addition tire manufacturing plant condere bought and truck tire sales and service corp which operates sears truck tire sales and service centers through licensed agreement with sears roebuck and the plant will supply tires armtek armstrong tire well several sears centers condere said expects first year revenues mln dlrs reuter 
earn	horizon bancorp hzb sets regular payout qtrly div cts cts prior pay may record april reuter 
earn	ashland oil chairman sees loss from operations the second fiscal quarter 
earn	henley heng issue subsidiary shares henley group inc said plans issue pct the common stock its fisher scientific group inc unit henley group shareholders the company said intends issue one share fisher scientific for each henley shares held shareholders record march the distribution scheduled for april six the company also said said the fisher shares will trade the over the counter market under the symbol fshg reuter 
acq	schlumberger slb may have alternate buyer schlumberger ltd most likely has alternate buyer lined for its fairchild semiconductor unit wall street analysts said think its clear that cancelling its agreement with fujitsu schlumberger has signaled that has another deal the works said paul johnson semiconductor analyst with rothschild there are unquestionably other buyers out there added kidder peabody analyst adam cuhney lot companies have looked fairchild and would willing buy among the companies that would interested bidding for fairchild are advanced micro devices amd sunnyvale calif and lsi logic corp llsi milpitas calif industry analysts said top chipmakers like national semiconductor corp nsm texas instruments inc txn and motorola inc mot might also seek buy fairchild but could possibly run into antitrust problems the analysts added moreover fairchild management thought considering proposing leveraged buyout the cupertino calif company analysts said brief statement announcing the termination the agreement with fujitsu schlumberger said the decision opened other possibilities including possible buyout fairchild management the company said ended the deal which fujitsu would have bought pct fairchild for estimated mln dlrs because rising opposition the deal the reagan administration made unlikely that the sale could completed within reasonable period time analysts questioned this explanation however arguing that the companies did not need government approval complete the transaction both schlumberger and fujitsu are foreigned owned companies schlumberger would not have terminated the deal because the government didn want said johnson rothschild spokesman for schlumberger declined elaborate the company news release said only that the company was reviewing number possible alternatives for the fairchild unit officials fairchild and fujitsu were not immediately available for comment analysts noted the significance the government apparent success preventing fujitsu from taking control fairchild administration officials including commerce secretary malcolm baldrige and defense secretary caspar weinberger feared that the sale fujitsu would lead japanese control key semiconductor technology for supercomputers and military weapons systems the government really stood for the semiconductor industry said johnson rothschild that think the real significance this consequently analysts said the japanese government might now feel more pressure address complaints about japanese chipmakers violation the semiconductor trade agreement signed last summer reuter 
trade	brazil trade surplus doubled february brazil trade surplus doubled february mln dlrs from january mln but was well below the mln dlrs february last year official figures show director the banco brasil foreign trade department cacex roberto fendt told reporters the upturn february confirmed rising trend exports which totalled billion dlrs against billion january and after excluding coffee and oil derivatives was only slightly below the same month last year coffee earnings were down mln dlrs against mln february because lower prices added fendt said although the february results were lower than the average expected for the rest the year the government target eight billion dlr surplus for should achieved this would compare with surplus billion dlrs exports this year are expected total billion dlrs and imports billion added exports totalled billion dlrs and imports billion fendt said the rise imports february billion dlrs from billion february last year was line with government plans foster economic growth fendt said imports were running levels well above the traditional average for brazil imports the first two months the year excluding oil and wheat totalled billion dlrs against billion the same period this rise reflected industry need for equipment raise production and perfectly compatible with the government program for economic growth fendt added reuter 
earn	silicon valley bancshares sets stock payout silicon valley bancshares said declared five pct stock dividend payable may shareholders record april reuter 
earn	giorgio corp dig qtly dividend shr cts cts prior qtr pay may record april reuter 
earn	transamerica income tai monthly dividend shr cts cts prior period pay april record march note full name transamerica income shares inc reuter 
acq	mcdermott mdr says stake violates law mcdermott international inc said the purchase pct block its stock was apparent violation the laws panama its country incorporation the company said detailed disclosure acquisition offer must made the panamanian national securities commission the target board before acquiring more than five pct stake said transfers securities violation these panamanian regulations are invalid the company was not immediately available say who had acquired the pct block stock reuter 
acq	icahn says target sec investigation corporate raider carl icahn acknowledged that one the targets investigation the securities and exchange commission into possible violations securities laws icahn who heads and controls trans world airlines inc twa made the acknowledgement filing twa was required make with the sec disclosing its pct stake usair group the sec issued formal order launching the private investigation nov icahn said the sec filing the order empowers sec investigators try find out whether any persons including icahn violated securities laws and related rules icahn said specifically the probe examining the acquisition and subsequent sale more than five pct the stock certain unspecified companies said federal law requires individuals groups individuals who have made shareholder agreements disclose stakes companies least five pct within days icahn has acknowledged that has been subpoenaed connection with sec probes but this the first time has disclosed that among those being investigated making the disclosure filing with the sec which obviously already aware its own probe icahn was also alerting current and potential shareholders twa not uncommon for companies which are aware that they their officers are the targets government probes acknowledge the existence the otherwise secret investigations fulfill their legal disclosure requirements their shareholders icahn said the sec looking into whether and others whom did not name violated securities laws acquiring and selling more than five pct company stock sec investigations into those kinds possible securities law violations have been spawned the agency widening probe into the wall street insider trading scandal according published reports making late filings forms which disclose the amount stock over five pct investor has company making filing all could indicate scheme warehouse shares stock warehousing scheme group investors acting concert would each amass stock the company without disclosing that they have agreement among them failing disclose that they are acting together the market unware the amount stock company that controlled group acting concert last year the sec charged members the wealthy belzberg family canada with taking part warehousing scheme while was accumulating stock ashland oil inc reuter 
earn	smithkline skb aims for pct earnings raise smithkline beckman corp said pursuing three point stragey that will achieve pct annual increase operating earnings throughout the remainder the decade smithkline earned mln dlrs dlrs per share revenues billion dlrs the company said its annual report that its nonpharmaceutical business will play major role meeting its earnings growth target and will fact grow faster than its pharmaceutical business smithkline whose major product the antiulcer medication tagamet said the report that intends improve earnings from existing products expand its product portfolio and optimize its financial resources bolster its position the antiulcer market which tagamet has met stiff competition smithkline said its strategy develop over the counter version tagamet bolstered two joint ventures one with wellcome plc and one pending venture japan smithkline also said its allergan inc eye and skin care products division can one billion dlr organization the next five years that can grow more than seven pct annually nondilutive acquisitions are real possibility gavin herbert president the eye and skin care product group said the report allergan had worldwide sales mln dlrs said its smith kline and french laboratories pharmaceuticals unit with sales billion dlrs will file for food and drug administration marketing approval for number cardiovascular agents including tissue plasminogen activator over the next two years also said and sales force will pct larger with more than sales personnel smith kline also said its small clinical laboratory testing unit with sales mln dlrs performs mln tests year and sees increases employee drug testing well testing for the aids antibody smith kline said that depending its share price and the cost money may buy back more shares the last three years has bought back about pct its shares smithkline begins the year with new management team including its new chief operating officer george ebright reuter 
earn	ashland oil ash sees qtr oper loss ashland oil inc said expects report loss from operations the second quarter the company also said expects report mln dlrs net gain the quarter from excess pension funds used pay down debt however difficult determine now whether this gain will sufficient offset the expected operating loss the company said statement company spokesman would not elaborate the company ashland petroleum unit operated loss january and february since was unable raise product prices enough recover higher crude oil costs ashland said although ashland petroleum and superamerica retail marketing operation are having difficult quarter the company valvoline ashland chemical and coal businesses are expected report good results for the quarter ended march the year ago quarter ashland had income from operations mln dlrs before corporate and interest expenses taxes equity income and other items net income the quarter was mln dlrs dlrs share sales billion dlrs reuter 
acq	ameritrust amtr sells two mln shares ameritrust corp said sold two mln shares its common stock investment group named clevebaco ltd partnership the partnership controlled alfred lerner and subsidiary the progressive corp prog the limited partner according the company ameritrust said was advised that the clevebaco group has filed application with bank regulatory authorities seeking permission acquire additional three mln shares ameritrust common stock the company said the group indicated that had hostile takeover intent toward ameritrust and that the purchase was for investment purposes reuter 
earn	bankamerica chairman says bank turning around heading profitability 
earn	general leaseholds ltd year net shr cts cts net revs avg shrs reuter 
trade	british farm minister attacks subsidies farm subsidies and protectionist moves threaten healthy trade both sides the atlantic michael jopling british minister agriculture fisheries and food warned would not sensible provoke another dispute between europe and the united states jopling said remarks prepared for evening speech but some things are clear and they apply both sides the atlantic cannot continue pile stocks while world demand shrinks said governments must not operate farm policies they were purely domestic affairs with impact others they also have recognize that they cannot the long run develop healthy and stable farm sector the basis protectionism and excessive subisdies and above all europe and the united states have too many common interests make worthwhile engage trade wars and competitive export subsidies which end benefitting one added crucial that the united states and the european community remain friends jopling who member the agriculture committee was indiana visit several farms prior talks with officials washington later this week jopling also criticized recent proposal still under consideration the for tax vegetable and fish oils said his government would oppose such move because not think correct that shortage funds support farmers should alleviated raising money the consumer expense reuter 
earn	bankamerica bac chair says bank turning around bankamerica corp chairman clausen said the bank holding company turning around and back the road profitability speech the san francisco chamber commerce clausen said was absolutely convinced bankamerica would return its position preeminence fundamental achieving that goal continue reduce costs dramatically get our arms around our loan loss problems and begin reduce charge offs and enhance our revenue generation clausen said clausen said doubts bankamerica would position this year make any acquisitions experience any growth said bankamerica will continue reduce staff and operations noting that expense growth increased only one pct over expenses clausen also said will continue phase out its overseas retail banking and concentrate wholesale banking with emphasis premium list multinational corporations reuter 
earn	rochester telephone corp rtc sets dividend qtly div cts cts pay may one record april reuter 
earn	augat inc aug sets quarterly dividend qtly div cts cts pay april record april reuter 
earn	phh group phh regular qtly dividend qtly div cts cts prior pay april record april reuter 
earn	telco systems inc telc qtr march one loss shr loss nine cts profit cts net loss profit revs mln mln six mths shr loss cts profit cts net loss profit revs mln mln reuter 
acq	declines comment schlumberger slb move commerce department spokesman said the agency would have comment schlumberger ltd announcement that had terminated agreement principle sell its fairchild semiconductor corp unit fujitsu ltd sclumberger had said that controversy surrounding the venture made unlikely the sale could completed any time soon the sale was opposed commerce and the defense department part national security grounds commerce chief spokesman cooper said the department had had contact with schlumberger about the deal defense department spokesman said the agency was unaware schlumberger announcement and would have immediate reaction officials last week told reuters that commerce secretary malcolm baldrige and defense secretary caspar weinberger had joined forces fight the planned sale because could have left the military overly dependent foreign sources for vital equipment used high technology weapons administration opposition the deal also stemmed from ongoing trade tensions between the united states and japan officials said reuter 
earn	precision target marketing inc ptmi qtr shr profit one cts loss two cts net loss revs mln dlrs mln nine months shr profit five cts loss cts net profit loss revs mln mln note qtr ended january qtr and nine months includes dlrs and dlrs gains respectively from tax loss carryforward reuter 
earn	royal bank canada brazil unit sees growth royal bank canada small brazilian commercial bank subsidiary banco royal canada brasil sees opportunities for its own growth with expected substantial increase brazilian exports canada banco royal president michael brennan said they brazilian exporters are very interested the canadian market because untapped market brennan told reporters after speech the brazil canada chamber commerce brennan said brazil currently exporting products like paper machinery and ships canada said hopes see medium term financing facilities for brazilian companies reinstated shortly following agreement reached january with international financial authorities brennan estimated brazilian exports canada totalled roughly mln canadian dlrs while imports from canada reached about mln dlrs brennan said expects banco royal profit increase this year from the three mln dlrs reported for fiscal ended september but said could not predict how much because the country uncertain financial climate brennan said expects his bank growth come from increased exports canada banco royal the only canadian owned commercial bank brazil although bank montreal has brazilian investment bank subsidiary said brennan said expected brazil able reach equitable agreement with foreign banks restructuring its billion dlr foreign debt because the brazilian economy essentially healthy said believed brazil might position resume debt repayments within year brennan said could not comment the impact brazil interest payment moratorium the royal bank canada reuter 
earn	affiliated publications inc afp sets dividend qtly div eight cts eight cts pay june one record may reuter 
earn	astro med inc alot qtr net shr cts nine cts net revs year shr cts cts net revs mln mln reuter 
acq	central pennsylvania cpsa buys stake firm central pennsylvania savings association said made pct investment pinnacle mortgage investment terms were not disclosed pinnacle incorporated generates about mln dlrs closed mortgage loans annually central pennsylvania also said its directors recently approved letter intent acquire hamilton reliance savings association norristown reuter 
ship	ports reopen but further closures possible harbour workers returned work this morning after strike support pay claims closed new zealand ports for hours yesterday but the harbour workers union told reporters the pay dispute not settled and the union national executive will meet here tomorrow decide its next moves obviously will considering further industrial action union secretary ross wilson said radio interview the union rejects employers offers pct pay rise over months wants pct over months reuter 
earn	atcor atco says outlook depends steel atcor inc said the magnitude any earnings recovery fiscal depends the direction steel pricing and how fast the company severe operating problems its consumer segment are resolved atcor consumer segment represents about pct its sales letter shareholders the company said that that part its business continues unprofitable atcor said does not expect performance improvements the first quarter sustained throughout the year due increasing raw material costs reuter 
earn	zzzz best inc zbst qtr net shr cts four cts net revs mln mln avg shrs mln mln nine mths shr cts eight cts net revs mln mln avg shrs mln mln reuter 
acq	pacific lighting plt considers unit sale pacific lighting corp said considering the sale its land development line business and will initiating discussions with potential buyers the book value the company investment land development operations mln dlrs the pacific lighting real estate group earned mln dlrs and employed people during the company said alternatives the sale being considered include master limited partnership and initial public offering the equity the land development companies said proceeds from the sale would likely invested pacific lightings new specialty retailing line business and its oil and gas operations the company said the investment banking firm morgan stanley has been retained advise pacific lighting the disposition the land development operations completion transaction one made expected the end the year the company said reuter 
acq	mlx mlxx unit agrees abex unit mlx corp said subsidiary has tentatively agreed acquire sintered friction materials business milan italy from unit abex corp for undisclosed terms the deal will close after obtaining italian government approvals expected late april the business which will operated under the name wellman will become member mlx specialty friction materials group the business manufacturer high energy friction materials for heavy duty transmissions and clutches reuter 
earn	moduline international mdln qtr oper loss qtr ended dec oper shr loss two cts loss cts oper net loss loss sales nine mths oper shr profit cts loss cts oper net profit loss sales mln mln mouduline international inc note oper data does not include gains from tax benefit carryforwards dlrs three cts per shr qtr and dlrs ten cts per shr nine mths reuter 
earn	financial trustco capital ltd hikes payout qtly div cts six cts pay march record march note also declares qtly div special shares issued december with same pay and record dates reuter 
earn	usp real estate uspts has gain sale usp real estate investment trust said will post first quarter gain dlrs the sale the spanish villa apartments savannah which was completed last week reuter 
earn	bindley western industries inc bind qtr net oper shr primary cts cts oper shr diluted cts cts oper net revs mln mln avg shrs primary avg shrs diluted mln mln year oper shr primary cts cts oper shr diluted cts cts oper net revs mln mln avg shrs primary avg shrs diluted mln note revs includes investment income dlrs dlrs for qtr and mln dlrs dlrs for mths revs also include unrealized loss equity securities dlrs for qtr and dlrs for mths oper net excludes extraordinary gain dlrs dlrs for qtr and dlrs dlrs for mths reuter 
earn	centel cnt sees lower first qtr profits centel corp said sees first quarter results below those due regulatory limits telephone earnings and cts cts share dilution from acquisitions the annual report chairman robert reuss told shareholders telephone profits will continued limited ceilings imposed regulators well deregulation and structural changes within the industry that have slowed growth the investment base for setting rates such its first quarter results will below last year first quarter dlrs share said several the company telephone units may faced with reduction the rates return authorized their regulators reuss said this could result some rate reductions and refunds customers reuss said encouraged the prospects for progress centel business communications cable television and cellular telephone units centel asking shareholders the annual meeting approve the tripling mln authorized shares reuter 
earn	wings west airlines wing qtr net qtr ended jan shr one nine cts net revs note nine mth data unavailable reuter 
acq	twa twa sees benefits usair merger trans world airlines inc which disclosed that does not intend seek control usair group this time said still believes combination the two airlines would have benefits both filing with the securities and exchange commission twa which controlled carl icahn said continues closely watch the developments usair which has agreement acquire piedmont aviation inc pie twa said spent mln dlrs acquire its usair shares which amount pct its total outstanding common stock twa said would not buy more usair group stock least for the moment but said still believes twa usair combination would create certain synergies that would mutually beneficial both carriers twa stressed that reserved the right revive its takeover attempt and said may continue explore the feasibility and strategies gaining control usair further purchases usair stock would require the approval the department transportation twa said because department transportation rules twa also said put its usair stock into voting trust with fleet national bank the voting trustee the voting trust agreement requires the bank vote favor any acquisition agreement between twa and usair and opposed any other merger usair reuter 
acq	adobe adb high plains hpoc merge adobe resources corp and high plains oil corp said they reached agreement principle under which high plains will merged into unit adobe under terms the agreement the companies said each share high plains common stock not owned adobe held the high plains treasury will exchanged for shares newly issued adobe common the exchange they said will made the effective date the merger which must approved both companies boards and high plains shareholders reuter 
trade	warns and japan trade tensions the european community delivered warnings both japan and the united states over trade frictions which have hit relations between the community and its main trading partners foreign ministers meeting here issued statement deploring japan continued trade imbalance and appealed for greater effort the country open its markets ministers also issued statement saying they were disturbed moves the limit imports textiles and warned that the community would react any such moves external trade commissioner willy clercq has already written his counterpart special trade representative clayton yeutter outlining the concerns the ministers said they were very disturbed the moves adding the adoption such measures would not fail have negative effect the process multilateral negotiations just started well bilateral relations any unilateral moves would leave the option but react according the laws the world trade body the general agreement tariffs and trade gatt they said separate statement japan the ministers said they deplore the continued aggravation the imbalance trade and expect japan open its market more the statement added that the continued insist that the japanese government must boost imports and stimulate demand ministers also called the european commission prepare report japanese trade for july this year enable them take action where necessary one diplomat said the call for report showed ministers were determined not let the japanese question drop wil back the table again and again the diplomat said clercq told journalists there certain nervousness growing impatience within the community trade relations with japan but diplomats said the community keen continue talking with tokyo try and solve the problem rather than embark costly and damaging trade war reuter 
acq	ceasars world files suit against martin sosnoff and mts acquisition tender offer 
acq	coastal cgp hit with two billion dlr lawsuit transamerica natural gas corp said seeking two billion dlrs punitive and actual damages lawsuit filed today against coastal corp its chairman and certain coastal affiliates transamerica privately held company that has been bankruptcy since said its suit alleges that coastal and its chairman oscar wyatt unlawfully interfered with agreements previously reached with its creditors causing the company significant damage transamerica also said its suit filed state district court harris county texas seeks injunctions against wyatt and coastal enjoin them from interfering with its contractual agreements with its creditors the company alleged that beginning mid coastal and its chairman took various steps acquire its gas and other assets coastal has used transamerica bankruptcy proceedings engineer hostile takeover attempt the company charged its suit transamerican alleged that coastal and wyatt are notorious corporate raiders who have been restrained the past from taking over other corporations their attempt create stranglehold position from which they could control and raise gas prices obvious that coastal efforts improperly take over transamerican thinly veiled attempt control larger share the texas gas market the detriment end users and consumers the company alleged coastal could not reached for comment company name transamerican reuter 
acq	caesars world caw files suit against sosnoff caesars world inc said filed lawsuit against martin sosnoff and mts acquisition corp regarding its march unsolicited tender offer for caesars world stock the company said filed the federal court the central district california charging the tender offer which its board rejected violated federal securities laws and federal margin regulations the suit charges the offering materials are materially false and misleading and misstate and conceal material information required disclosed shareholders the suit also charges the offer illusory and designed manipulate the market caesars world stock enable sosnoff sell the caesars world stock already owns for substantial profit the complaint seeks among other things enjoin the tender offer and require mts and sosnoff correct false and misleading statements the offer caesars world expected seek friendly suitor restructure operations buy back sosnoff holdings attempt fight off the bid sosnoff holds about pct the company stock reuter 
acq	harris ups centerre bancorp ctbc stake harris associates chicago investment advisor said raised its stake centerre bancorporation shares pct the total outstanding from shares pct filing with the securities and exchange commission harris said bought centerre common shares between jan and march prices ranging from dlrs share said its dealings the company stock are behalf its clients reuter 
earn	pay save payn qtr jan net shr profit one loss cts net profit loss sales mln mln reuter 
acq	aero services aeroe pact for nominations aero services international inc said signed agreement with dibo attar who controls about pct its common stock under which three nominees aero board have been selected attar addition attar the nominees are stephen peistner chairman and chief executive officer mccrory corp and james moffat iii vice president and secretary eastover corp reuter 
acq	hongkong bank says close deal property sale hongkong and shanghai banking corp hkbh close deal the sale commercial building hong kong mongkok business district bank spokesman said said the storey wayfoong plaza was likely sold for about mln dlrs but declined identify the buyer the spokesman gave further details reuter 
earn	cathay pacific profit seen above target buoyed low fuel prices and favourable currency factors cathay pacific airways ltd caph profits are expected surpass the airline forecast one billion dlrs stock analysts said analysts said they expect the airline show net earnings between billion and billion dlrs when reports results tomorrow for its first year public company cathay pct owned swire pacific ltd swpc made its earnings forecast the prospectus for its flotation may last year cathay expected pay cent final dividend making total cents for the year forecast the prospectus analysts polled reuters said they said the airline performance improved the second half the year after reported interim profits mln dlrs the weakness the local currency pegged one dollar and low fuel prices moved further the company favour from the assumptions made the prospectus the time the flotation james capel far east ltd said james capel estimates average fuel prices for the airline industry cents per gallon pct below the level said one pct movement fuel prices would affect cathay net profits mln dlrs and forecast profits billion dlrs analysts said the company estimates fuel price and currency movements set out its prospectus were conservative this reflected their interim results which showed that profit margin has increased said frederick tsang mansion house securities ltd cathay six month turnover rose pct from year earlier levels but profits rose pct the rise oil prices late had little impact the company fuel oil bill last year aviation fuel prices usually lag behind crude price movements several months analysts said last september the yen had risen some pct against the hong kong dollar from the end the mark pct and sterling pct overall the weakness the hong kong dollar against cathay major trading currencies helped push passenger yields the first half pct said james capel this should continue through the second half enable passenger yields end the year pct strong performance from the billion dlrs cash under management also improved profits james capel said general improvement air traffic last year contributed cathay revenue increase but the company load factor declined because increased competition and expansion its fleet and services james capel estimated cathay passenger kilometres flown last year rose six pct from and freight kilometres flown climbed pct though the airline load factor probably fell pct from pct cathay added new planes and was forced fly some routes last year because the threat competition from dragon air said tsang this affected its load factor fear possible competition from fledgling carrier hong kong dragon airways ltd may have contributed cathay decision resume service new zealand last year analysts said reuter 
acq	new zealand press group buys more texas newspapers independent newspapers ltd inl said bought two more community newspapers houston texas through subsidiary there for undisclosed sum inl said statement houston community newspapers inc bought the south west advocate and the south bend advocate with combined circulation copies and associated assets from the advocate communications corp inc inl publishes wellington morning and evening newspapers well new zealand provincial dailies and newspapers rhode island just under pct inl owned news ltd australian subsidiary news corp ltd ncpa production and administration the two publications would transferred the company existing centre houston inl said the acquisition took effect march inl chairman alan burnet said the purchase would enable the subsidiary offer advertisers combined distribution nine community newspapers homes the greater houston area trading conditions the area are particularly difficult because the city economy depends large extent the fortunes the petroleum industry but the situation should improve the medium long term and the investment will prove sound said reuter 
crude	study predicts dependence foreign oil government study has concluded the will dependent oil from the middle east into the next century and must take steps reduce its vulnerability the new york times said the newspaper said the inter agency government study found serious oil dependency problem due steadily falling domestic production and rising demand for imported oil the study concluded that the will relying foreign countries for pct its oil more than the peak pct reached and far above the pct rate during the arab oil embargo the now imports about pct its oil needs from pct year ago the new york times said said recommendations sent the white house energy secretary john harrington include financial incentives raise domestic oil production one mln barrels day from the current mln barrels the newspaper said the administration has placed increased emphasis stockpiling oil reserves said the view now held that the strategic petroleum reserve tapped times shortages should increased barrels day rather than called for the budget the newspaper said harrington may propose restoring the depletion allowance major producers the administration also plans renew its efforts repeal the windfall profits tax remove bars drilling the outer continental shelf and repeal the law that limits the use natural gas industrial and utility boilers added the new york times quoted senator don nickles oklahoma saying the study greatly underestimated potential demand for imported oil the next decade and overestimated the amount domestic oil which would produced reuter 
grain	china import more grain china grain imports will rise because serious drought and increasing demand but will not large the past chinese officials and japanese traders told reuters they said foreign exchange constraints and national policy would not allow return large scale imports which peaked mln tonnes agricultural official the shanghai government put maximum imports about mln tonnes this year against mln and mln officials said grain imports rose because poor harvest and rising domestic demand but remained below exports which rose mln tonnes from mln china short foreign exchange the shanghai official said cannot rely imports even current low world prices only there major disaster will become major importer japanese trader peking said chinese grain imports would rise and exports fall this year because the drought low world prices and rising domestic demand for human and animal consumption current prices china loses yuan every tonne grain exports though earns foreign exchange which badly needs the trader said the people daily said last saturday serious drought affecting mln hectares arable land which will reduce the summer grain harvest from last year level the paper added that leaders some areas were not paying enough attention agriculture especially grain making difficult achieve the grain output target mln tonnes against mln all areas must spare effort raise the autumn harvest area especially corn sweet potatoes paddy rice and high yield cash crops said added factory production might have reduced provide electricity for agriculture was needed fight the drought since january the press has devoted much attention grain stressing that growth output vital china economic and political stability and that prices paid farmers are too low officials east china have repeatedly said stable grain production key state policy and outlined the measures being taken their areas encourage output the shanghai official said that one suburb pct the pre tax profits factories are used subsidise agriculture said rural industries other suburbs also set aside money for grain and pay the salaries some the workers available help farmers chu jinfeng official fengbing county outside shanghai said factory workers get yuan month and three years unpaid leave grow grain and can keep the profits pan huashan official the agricultural department zhejiang province said rural industry also subsidises grain output his province addition are setting grain production bases raising the level science and technology the farms and improving the supply raw materials roads and other infrastructure said the shanghai official said rural residents who work industry commerce usually keep their land farm their spare time let other family members farm some cases they lease the land grain farmers the china daily said last month that grain output should reach between and mln tonnes and between and mln said growing grain should made profitable the advantages the state promises grain growers actually yield tangible profits for them and are not siphoned off intermediate agencies because bureaucracy corruption only this will boost enthusiasm said reuter 
acq	fairchild deal failure seen making japanese wary schlumberger ltd slb decision end agreement principle for fujitsu ltd itsu buy pct its fairchild semiconductor corp and the political furore that surrounded the proposed sale will make japanese companies more cautious their efforts acquire high technology firms but will not halt such attempts industry analysts said the collapse the deal will not critical blow fujitsu but will boost the cost future expansion the japanese firm said analysts polled reuters the acquisition fairchild not essential fujitsu north american operations but would have been great boost james capel and analyst tom murtha said french controlled schlumberger said yesterday was ending the agreement because mounting political controversy the made unlikely that the sale the fairchild stake could completed reasonable time the sale was opposed the commerce department and defence department partly national security grounds fujitsu acquisition fairchild would have given the japanese computer maker control comprehensive north american sales and distribution system and access microprocessor technology area where fujitsu weak analysts said the deal would also have given fujitsu additional microchip production facilities worldwide eight them the report the capel firm said was entry point port for semiconductors and marketing channel for other things said barclays zoete wedd analyst rick may several analysts said the purchase would not have given fujitsu access critical defence technology fairchild simply doesn have key technology that thing the past may said the failure could blessing disguise for fujitsu might have had spend several hundred million dollars modernise fairchild production lines capel murtha said the failure the deal will doubtless encourage japanese firms take lower profile attempts acquire high tech firms but they are unlikely stop analysts said most analysts said fujitsu was likely the more costly route expanding its own production and distribution facilities the although some said could use the estimated mln dlrs set aside for buying fairchild try acquire some less politically symbolic firm may slow the pace japanese acquisitions but the necessity expanding their production and design capacity america remains said capel murtha the japanese will continue shop for bargains but will harder find ones that are politically acceptable japanese firms are likely favour joint ventures smaller equity stakes firms avoid the political backlash that blocked the fairchild sale analysts said they not going slow they just going buy smaller pieces because the political risk said barclays zoete may several japanese firms have already taken pct shares smaller high technology firms such super minicomputer makers said opposition the sort that blocked fujitsu could end harming firms and undermining trend toward multinational tie ups some analysts said this not really benefit firms either said jardine fleming securities ltd analyst nick edwards the pooling resources semiconductors positive move why should the government step prevent japan minister international trade and industry hajime tamura told press conference that interference government officials the fairchild deal was inappropriate this entirely private sector matter and not matter for governments comment tamura said think was improper for government officials intervene the extent they did said spokesman told reuters the ministry view that international investment flows ought free and that such flows are increasing importance line with the growing closeness japanese economic ties reuter 
trade	korea says japan complains gatt trade plan japan has complained the secretariat the general agreement tariffs and trade gatt that south korea five year plan cut its trade deficit with japan breaks gatt rules trade ministry officials here said they said japan submitted report earlier this month alleging south korea plan import less from japan and more from the and elsewhere was tantamount creating non tariff trade barriers south korea unveiled the plan november said hoped narrow its trade deficit with japan two billion dlrs south korea trade deficit with japan was record billion dlrs and rose mln dlrs the first two months from mln the same period the plan envisages giving incentives importers not import japanese goods and exporters sell more japan the officials said they believed the japanese action one step short filing suit was designed bring south korea the negotiating table and stop the plan the seoul government wants tokyo ease various import restrictions and simplify customs inspections for south korean goods help reduce the trade deficit reuter 
earn	mitsubishi chemical industries ltd mcit year year ended january parent shr yen div five yen same net billion billion current billion billion operating billion billion sales billion billion note company forecast for current year parent div five yen net seven eight billion current billion sales billion reuter 
ship	japan foreign shipbuilding orders rise february new foreign shipbuilding orders received japanese yards february rose six vessels totalling gross tons from three ships tons january the japan ship exporters association said this compared with six ships gross tons year earlier association official said the backlog orders end february was ships mln gross tons against ships mln month earlier and vessels mln year earlier association official said reuter 
money-fx	money market deficit forecast mln stg the bank england said forecast shortage around mln stg the money market today among the main factors affecting liquidity bills maturing official hands and the take treasury bills will drain some mln stg while banker balances below target will take out around mln stg partly offsetting these outflows exchequer transactions and fall note circulation will add some mln stg and mln stg the system respectively reuter 
earn	ccic finance ltd year dec net profit mln dlrs mln total divs shareholders mln nil note firm underwrote capital market issues next industrial transaction may syndication mln dlr loan the shanghai chun tyre project the company joint venture merchant bank between the bank china first national bank chicago and the industrial bank japan ibjt reuter 
grain	southeast china crops saved heavy rain the heaviest rains for seven months are believed have saved more than one mln hectares drought threatened crops southeast china the official new china news agency said this week rains have alleviated drought conditions guangdong province the agency said china has warned that this year harvest will affected drought many areas reuter 
trade	japan says japan microchip pact working japanese officials sought convince the that japan pact microchip trade working ahead april deadline set the for them prove their case are implementing the agreement good faith and the situation does not run counter the pact osamu watanabe director the ministry international trade and industry miti americas and oceanic division told foreign reporters the effects the measures have taken and are taking are emerging the market place said trade officials have repeatedly accused japanese microchip makers violating the pact continuing sell below cost markets outside japan and the united states the agreement signed last september aimed halting predatory japanese pricing policies and increasing semiconductor firms access the japanese market the comments miti officials followed call prime minsiter yasuhiro nakasone clear any misunderstandings the side about the pact watanabe said yukio honda director miti industrial electronics division denied that japanese chipmakers were selling below cost third countries miti call japanese chip makers last month cut production key memory chips the first quarter this year has begun dry the source cheap chips for sale the non regulated grey market honda said the grey market exports from japan are shrinking now but contrast and south korean companies are expanding market share because their cheaper prices honda said miti plans take further steps reduce the excess supply inexpensive chips which developed japan after the pact was formed because slump japanese semiconductor exports the united states added the ministry will soon release its supply demand guidelines for the second quarter and suggested production volumes are likely lower than that for the first quarter said despite businessmen ingenuity finding ways around any artificial controls regulation supply and demand should bring positive results watanabe said optimistic added reuter 
acq	hanson sells finlays unit for mln stg hanson trust plc hnsn said will sell its finlays confectionery tobacco and newsagent business specially formed company finlays plc for estimated mln stg cash the chain stores was acquired when hanson took over imperial group plc last year reuter 
money-fx	dollar seen falling unless japan spurs economy underlying dollar sentiment bearish and operators may push the currency new low unless japan takes steps stimulate its economy pledged the paris accord foreign exchange analysts polled reuters said here the dollar expected try its psychological barrier yen and fall even below that level senior dealer one leading bank said the dollar has eased this week but remains stable around yen six major industrial countries agreed meeting paris february foster currency stability some dealers said the dollar may decline the long term but drastic fall unlikely because fears renewed inflation and fears reduced japanese purchases treasury securities needed finance the deficit dealers generally doubted whether any economic package japan could adopt soon would effective enough reduce its trade surplus significantly and said such measures would probably invite further steps weaken the dollar under the paris accord tokyo promised package measures after the fiscal budget was passed boost domestic demand increase imports and cut its trade surplus but debate the budget has been delayed opposition boycott parliamentary business over the proposed imposition five pct sales tax and the government has only slim chance producing meaningful economic package the near future the dealers said such steps are taken protectionist sentiment the congress will grow putting greater downward pressure the dollar they said the factors affecting the currency have not changed since before the paris accord they added underlying sentiment for the dollar remains bearish due still sluggish economic outlook the international debt crisis triggered brazil unilateral suspension interest payments its foreign debts and the reduced clout the reagan administration result the iran contra arms scandal said senior dealer leading trust bank there possibility that the dollar may decline around yen the end this year said chemical bank tokyo branch vice president yukuo takahashi but operators find hard push the dollar either way for fear possible concerted central bank intervention dealers said there were widespread rumours that the federal reserve telephoned some banks new york ask for quotes last wednesday and even intervened sell the dollar when rose marks the bank england also apparently sold sterling london when neared dlrs wednesday they said but other dealers said they doubted the efficacy central bank intervention saying may stimulate the dollar decline because many dealers are likely await such dollar buying intervention chance sell dollars however first national bank chicago tokyo branch assistant manager hiroshi mochizuki said the dollar will not show drastic movement least the end march other dealers said the seems unwilling see any strong dollar swing until japanese companies close their books for the fiscal year ending march because weak dollar would give japanese institutional investors paper losses their foreign holdings which could make them lose interest purchases treasury securities monetary officials may refrain from making any comments this month avoid influencing rates they said reuter 
ship	dutch port employers resume lay off plans employers rotterdam troubled general cargo sector have decided restart stalled redundancy procedures within week employers organisation labour relations manager gerard zeebregts told reuters port and transport union spokesman bert duim said the employers decision would not lead the immediate resumption eight weeks strikes the sector the strike action was called off friday after interim court injunction against the employers plans for redundancies this year court amsterdam ruled last week the employers had made error the complicated procedure for obtaining permission for the redundancies and therefore could not proceed until final ruling may zeebregts said the initiation new procedure might well take two months but the employers were not prepared simply sit and wait for the may court ruling with the chance they would have start all over again any case cannot afford not continue with our plans the strikes have already cost lot money and damaged business and further delays would even more damage zeebregts said the campaign lightning strikes the port general cargo sector began january protest employers plans for redundancies from the sector strong workforce starting with this year reuter 
acq	commercial international cmmc makes purchase commercial international corp said has completed the previously announced acquisition most the assets growers distributing international corp table grape marketer for undisclosed amount said the entire purchase price will payable over three year period and based percentage pre tax earnings the acquired operation the company said has option acquire growers cold storage facility and related assets tulare county calif growers owned commercial chairman sid schuman and director arnold cattani reuter 
acq	timex corp sells unit swiss corp for microelectronics and watchmaking industries said has acquired international time corp from privately held timex corp for undisclosed terms international time exclusive distributor swiss corp tissot watches the reuter 
acq	wavehill international inc makes purchse wavehill international ventures inc said has completed the previously announced acquisition personal computer rental corp for restricted common shares giving former shareholders personal computer pct interest the combined company reuter 
acq	kohlberg kravis has pct owens illinois oii holdings corp company formed kohlberg kravis roberts and said received and purchased about mln shares pct owens illinois inc common stock and dlr cumulative convertible preference shares owens about pct the company said its tender offer for all common and preference shares expired last night said owens illinois will merged into subsidiary oii holdings march common shares not bought the offer will converted into the right receive dlrs per share cash the tender price the preference stock has been called reuter 
earn	macgregor sporting goods inc mgs qtr jan shr one cent nine cts net sales mln mln first half shr cts five cts net sales mln mln note net includes gains dlrs one cent share dlrs seven cts share quarter and dlrs seven cts share dlrs one cent share half from tax loss carryforward reuter 
trade	warns and japan trade tensions the european community yesterday warned japan and the united states its main trading partners that friction over trade issues affecting the relations with both countries foreign ministers issued statement deploring japan continued trade imbalance and appealed for the country make greater effort open its markets they also said they were disturbed draft bill before the congress that would impose permanent quotas textile imports and were prepared react the administration has already distanced itself from the bill external trade commissioner willy clercq has written his counterpart trade representative clayton yeutter outlining the concerns the statement said ministers were very disturbed moves towards protectionism the adoption such measures would not fail have negative effect the process multilateral negotiations just started well bilateral relations said any unilateral moves would leave the option but react according the laws the general agreement tariffs and trade said separate statement japan the ministers said they deplore the continued aggravation the imbalance trade and expect japan open its market more the statement said the would continue insist that japan boost imports and stimulate domestic demand ministers also called the commission prepare report japanese trade for july this year enable them take appropriate action where necessary one diplomat said the call for report showed ministers were determined not let the japanese question drop will back the table again and again the diplomat said clercq talking journalists during the meeting said there certain nervousness growing impatience within the community concerning trade relations with japan but diplomats said the keen negotiate with tokyo solve the problem rather than embark costly and damaging trade war and the ministers called for more cooperation with japan industry and research reuter 
earn	microbilt corp bilt qtr jan net shr cts cts net revs avg shrs year shr cts cts net revs mln mln avg shrs reuter 
acq	shamrock holdings unit aquires software company shamrock holdings inc said its subsidiary shamrock holdings california acquired controlling interest dbms inc through the purchase shares its preferred stock the company said the stock was purchased for undisclosed amount from unnamed group investors shamrock said raymond nawara former executive vice president dbms privately held software company also granted options and voting rights major portion his shares common stock the combination preferred and common stock holdings permit shamrock and nawara exercise voting control over approximately pct the shares the company shamrock also said nawara has been elected president dbms and one its directors reuter 
acq	credit agricole replaces bnp hachette bid french state agricultural bank caisse nationale credit agricole has joined the group led publishing house hachette which bidding for control the state television station replacing banque nationale paris which has withdrawn hachette said statement credit agricole stake the consortium will pct last week the broadcasting supervisory board asked hachette remove bnp from the consortium because the bank had acted adviser the government for the imminent privatisation reuter 
earn	payless cashways inc pci qtr feb net shr cts seven cts net sales mln mln qtly div four cts four cts prior pay april six record march six reuter 
acq	france approves waterman acquisition gillette gillette exercised option take pct stake the french pen firm waterman which had previously been authorised the french government the french stockbrokers association csac said gillette has given undertaking intervene the bourse until april prevent waterman shares from falling below francs added this compares with yesterday rate francs under the agreement concluded last november between waterman owners francine and grace foyer gomez and alice lundgren and the gillette group gillette agreed acquire pct the capital waterman francs share gillette buying total shares valuing the deal mln francs reuter 
money-fx	money market shortage forecast revised down the bank england said had revised its forecast the shortage the money market today down mln stg from mln stg reuter 
earn	noel industries inc nol qtr jan loss shr loss cts loss cts net loss loss revs reuter 
trade	japan alerts gatt south korea import plan japan told the general agreement tariffs and trade that south korea five year import diversification plan violated the spirit the world trade governing body foreign ministry spokesman said the notification came japan answer recent gatt questionnaire unfair trade practices the spokesman said the five year plan which starts this year south korea aims reduce its dependency japan source imported goods and increase imports from the and europe japan move came after several unsuccessful bilateral negotiations the plan the spokesman said the notification does not represent anything resembling formal complaint nor intended pressure south korea routine procedure followed all other gatt member states reuter 
money-fx	money market receives mln stg assistance the bank england said had provided the money market with mln stg help the afternoon session the bank did not operate the market the morning and earlier revised its estimate the shortage the system today down mln stg from mln the central bank purchased bills outright band one pct comprising two mln stg local authority bills and mln stg bank bills reuter 
acq	atico financial atfc make acquisition atico financial corp said has executed definitive agreement acquire pct intercontinental bank dade county fla from intercontinental bank holding for undisclosed amount cash and common stock said closing subject regulatory approval atico said connection with the acquisition will apply become registered bank holding company and convert its npct owned atico savings bank subsidiary state chartered commercial bank intercontinental had year end assets about mln dlrs atico had year end assets about mln dlrs reuter 
earn	clothestime inc ctme qtr net shr cts cts net revs mln mln mths shr cts cts net mln mln revs mln mln note prior qtr and ended jan reuter 
earn	charter crellin inc crtr year net shr dlrs dlrs net sales mln mln avg shrs one mln reuter 
earn	sensormatic canada ltd year net shr cts cts net revs reuter 
earn	dime savings bank wallingford dibk payout qtly div cts cts prior pay april record april three reuter 
acq	baker international sell electric submersible oilwell pump unit 
acq	baker bko sell oilwell pump unit baker international corp said has signed definitive agreement sell the assets and business the electric submersible oilwell pump product line the continental its baker oil tools inc subsidiary trico industries inc tro for undisclosed amount cash and other consideration the company said the transaction subject hughes tool and baker shareholder approval the baker hughes merger the justice department has announced that will require divestiture the product line for approval the merger baker said the transaction subject approval the justice department and the boards baker hughes and trico reuter 
earn	canadian foremost ltd year net shr cts cts net revs mln mln reuter 
earn	immunogenetics inc igen year net oper shr profit eight cts loss eight cts oper net profit loss sales mln mln note net excludes losses from discontinued operations dlrs dlrs net excludes tax credits dlrs net includes gain dlrs from reversl recapture taxes reuter 
earn	scurry rainbow oil ltd qtr dec net shr cts cts net mln mln revs mln mln reuter 
earn	mcrae industries inc mri qtr jan net shr cts three cts net revs six mths shr cts cts net revs mln reuter 
earn	frontier texas corp qtr nov net oper shr profit one loss four cts oper net profit loss revs avg shrs half oper shr profit nil loss eight cts oper net profit loss revs mln avg shrs note current year net both periods excludes tax credit dlrs reuter 
acq	clabir clg unit agres buy popsicle canada clabir corp said its pct owned affiliate ambrit inc abi has agreed acquire the popsicle industries division sara lee corp canada ltd for about mln canadian dlrs cash clabir said the purchase from the sara lee corp sle subsidiary worht about mln dlrs the agreement subject canadian regulatory approval popsicle canada through its licensees the largest maker and distributor frozen novelty products canada clabir added reuter 
earn	jude medical stjm votes dividend rights jude medical inc said its board declared special dividend one right for each outstanding share held the company common stock payable holders record april six said each right entitles the holder buy one tenth share preferred stock jude exercise price dlrs jude said the rights may exercised only after days following the acquisition commencement tender offer for least pct the company common stock the company added that has reason believe jude medical takeover target reuter 
acq	adams russell electronics aare purchase adams russell electronics inc said has acquired hermetronics plc maker hermetic integrated circuit packages for about dlrs the company said hermetronics expected have sales over dlrs for the year ending this month reuter 
earn	mesa limited partnership mlp sets payout qtly div cts cts prior pay may record april seven note partnership said holders common and preference units for all are expected have net taxable income reuter 
money-fx	money market given mln stg late help the bank england said provided the money market with late assistance around mln stg this brings the bank total help today some mln stg and compares with its forecast mln stg shortage the system reuter 
acq	memory protection mpdi sees bogen closing memory protection devices inc said expects close the previously announced acquisition the assets and liabilities bogen division lear siegler inc april one memory protection devices said received senior loan commitment letter well the requisite waiver under the new jersey environmental control reclamation act both which are necessary complete the acquisition declined provide further details reuter 
acq	canadian foremost continues macedon sale talks canadian foremost ltd earlier reporting lower net profit said negotiations are continuing concerning the previously announced sale the company pct interest macedon resources ltd concluded the sale would refelected the company results foremost said without elaborating also said lower revenues from the last half are expected continue during but strong cash and working capital position will enable foremost developing traditional and new markets earlier said earnings fell dlrs from year ago dlrs reuter 
acq	texas international tei completes reserve sale texas international said has completed the previously announced mln dlr sale its domestic oil and natural gas reserves total compagnie francaise des petroles said closing used part the proceeds retire all mln dlrs its bank and senior debt and the rest will used for general corporate purposes reuter 
earn	trans world music corp twmc qtr jan net shr cts cts net sales mln mln avg shrs year shr dlrs cts net sales mln mln avg shrs reuter 
earn	gruen marketing gmc sees year net off gruen marketing corp said expects report earnings for the year ended january cts per share about average shares down from cts shares year before said sales fell about pct from the year earlier mln dlrs reuter 
trade	dutch official warns more trade conflicts already strained relations between the and the european community are likely get worse before they get better director general the dutch economics ministry foreign affairs division frans engering said speaking american chamber commerce lunch the hague engering noted the developing history crises over steel citrus and pasta and warned more come consider the strident tone declarations airbus ill advised and the fats and oils tax proposal dangerous provocation said feel that shall probably have deal with quite few more crises the foreseeable future not only the congress clearly very determined get the american balance payments into better shape but the risks brinkmanship are all the greater because the has its own constraints meeting outside pressure engering noted ask ourselves whether perhaps inevitable that keep pushing each other the brink actual trade war then think the answer probably yes said order reduce these tensions decision making the must become less self centred and the administration will have exercise the authority convince congress and pressure groups the need for accommodation added reuter 
acq	qintex again extends princeville pvdc offer qintex america ltd said its offer for mln princeville development corp shares has been extended march from march yesterday qintex said princeville shares had been tendered response the offer and not withdrawn down from over mln march qintex said extending the offer allow princeville shareholders assess the sale announced last week princeville airways inc aloha inc alo adding supplement the quintex offer further detailing the agreement with aloha will distributed later today reuter 
earn	first valley corp fivc regular dividend qtly div cts payable april record march reuter 
trade	treasury announces oecd tied aid pact treasury secretary james baker said agreement has been reached members the organization for economic cooperation and development oecd control the unfair trade practice using tied aid promote trade said statement the agreement culminates the reagan administration effot negotiate virtual end export credit subsidies the practice other governments using tied aid mixed credits promote exports has cost the united states lost jobs and lost exports the treasury said the agreement implemented two stages july would ban tied aid credit among industrialized countries and place limits permitted aid developing countries would also reduce export credits that not involve aid and reduce credit subsidies permitted for relatively poor countries the treasury said baker said the agreement imposes particular sacrifices japan and praised japan willingness accept the pact demonstration the japanese government willingness take concrete steps resolve important trade issues reuter 
earn	gulf resources gre sees qtr pretax profit gulf resources and chemical corp said the sale its stake imperial continental gas association will result pre tax profit about mln dlrs dlrs per share fully duliuted the first quarter gulf said sold its remaining stake imperial shares and units loan stock for mln dlrs based exchange rate one pound sterling dlr previously reported sold its imperial shares march nine gulf said the sale the imperial shares were accepted part recent tender offer made groupe bruxelles lambert and tractebel under the terms the offer gulf said entitled receive supplementary payment general offer acquire imperial continental its calor group contibel holdings becomes wholly unconditional before jan price above the tender off pence per share reuter 
earn	sterling inc strl qtr jan net shr dlrs not given net sales mln mln year shr dlrs not given net sales mln mln note company went public may reuter 
earn	automatix inc aitx qtr loss shr loss cts loss cts net loss loss revs year shr loss cts loss cts net loss loss revs mln mln reuter 
earn	ionics inc ion qtr net shr cts cts net revs mln mln year shr cts cts net revs mln mln backlog mln mln note net includes nonrecurring gain dlrs quarter and charge dlrs year reuter 
grain	soviets said see new floor for grain output the intensive technology concept for grain production has put new floor under ussr grain production the agriculture department officer moscow said field report the report quoting broadcast radio moscow said that due intensive technology grain production bad year will not fall below mln tonnes and good year grain production could reach mln tonnes the agriculture department currently forecasts this year ussr crop mln tonnes and realized this would the third year since that the soviet union grain harvest has exceeded mln tonnes the largest crop since was mln tonnes harvested according usda data reuter 
trade	oecd agrees export credit reforms the western industrialised nations have agreed reforms rules which they provide credit for exports developing countries the organisation for economic cooperation and development said the reforms tighten the rules for the use foreign aid subsidise export credits called mixed credits the oecd said the agreement implemented two stages july this year and july means the minimum aid component mixed credits will raised pct from pct and pct for credits covering exports the world least developed nations additionally new formula will used for calculating the aid element mixed credits take account different interest rates the exporting countries the nation oecd which hosted the reform negotiations said minimum interest rates for officially subsidised trade loans have also been revised with the aim cutting the subsidies and ending them completely loans relatively rich developing countries july next year the reforms follow several years pressure the stop competitors notably france and japan using foreign aid subsidise exports putting firms disadvantage oecd officials said the agreement was based provisional accord reached january subject ratification member governments some governments including austria had linked their final approval other trade credit issues which would discussed meeting here mid april they added raising the minimum amount aid required mixed credits the agreement aims make such hidden subsidies too costly for frequent use major loophole the general agreement tariffs and trade has been closed today senior official here commented reuter 
acq	communications tmci completes purchase communications inc said has completed the acquisition radio station knss reno nev for about dlrs cash reuter 
acq	peoples heritage phbk make acquisition peoples heritage bank said has agreed purchase northeast leasing inc portland maine lessor office equipment for about common shares said norhteast had year end receivables dlrs reuter 
earn	codenoll technology corp codn qtr loss shr loss cts loss cts net loss loss sales avg shrs year shr loss cts loss cts net loss loss sales avg shrs reuter 
acq	owens corning ocf completes sale plants owens corning fiberglas corp said has completed the previously announced sale its three foam products plants atlas roofing corp for undisclosed terms the sale part its restructuring the company said reuter 
earn	campbell resources inc qtr shr profit three cts loss cts 
earn	genetic laboratories inc genl qtr loss period ended jan net loss loss sales six mths net profit loss sales reuter 
acq	royal resources rrco makes acquisition royal resources corp said has exercised its optioon purchase montagu mining investments inc from samuel montagu ltd london for dlrs cash and common shares the company said montagu main asset pct interest the hog ranch joint venture which operates the open cut heap leach hog ranch gold mine washoe county nev the mine now produces gold over ounces year said after nine months following closing montagu may require royal register the shares for sale royal said from six months after closing until one year after montagu also has the right require royal repurchase any all the shares dlrs each reuter 
earn	campbell resources inc cch qtr dec net shr profit three cts loss cts net profit loss revs six mths shr profit three cts loss cts net profit loss revs mln mln note campbell changing its end dec from june reuter 
earn	amertek inc atekf year net oper shr cts eight cts oper net revs mln mln note shr and net exclude extraordinary gain dlrs cts share shr and net exclude extraordinary gain dlrs cts share reuter 
earn	systematics inc syst qtr feb net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
money-fx	fed may supply reserves the money markets there slightly better than even chance that the federal reserve will enter the government securities market add temporary reserves economists said they said the fed would supply the reserves indirectly via around billion dlrs customer repurchase agreements federal funds which averaged pct yesterday opened pct and moved narrow range between there and six pct early trading reuter 
acq	irving trust buys gulf western unit irving bank corp said bought the factoring division associates commercial corp unit gulf and western inc associates corp north america the terms the previously announced deal were not disclosed said the assets were transferred irving commercial corp reuter 
earn	amre inc amre qtr jan net shr five cts one net revs mln nine mths shr cts cts net two mln revs mln mln reuter 
earn	porta systems corp psi qtr jan net shr cts cts net sales mln mln year shr cts cts net sales mln mln reuter 
earn	federated department stores inc qtr shr dlrs dlrs 
earn	warnaco group inc eight mths jan three net oper net mln revs mln mths oper net mln mln revs mln mln note eight months represents earnings following acquisition may when company went private period ending jan excludes mln dlrs interest expenses mln dlrs acquisition adjusments and mln dlrs income taxes reuter 
earn	gantos inc gtos qtr jan net shr cts cts net sales mln mln avg shrs mln mln year shr cts cts net sales mln mln avg shrs mln mln reuter 
earn	atlantic express inc half dec net shr not given net revs mln note company went public during reuter 
acq	spendthrift farms sfi gets bid for control spendthrift farm inc said has received three tentative proposals acquyire control the company said evaluating the proposals and will not comment further unless definitive agreement reached reuter 
crude	shearson lehman upgrades oil stocks analyst sanford margoshes shearson lehman brothers said recommended number oil stocks today now that apparent that opec has succeeded holding its prescribed production quotas clear that opec through jawboning and quota restraint will boost the price oil margoshes said prices oil stocks rose sharply today response higher oil prices and optimism about opec quotas margoshes said recommends imperial oil imo standard oil srd exxon xon one and chevron chv addition margoshes said recommended atlantic richfield arc short term basis though said still suspect about its debt situation atlantic richfield rose said the market could come down test the dlr barrel level again but the main thrust investing oil positive right now before the year out will see higher oil prices noted that belief that the government interested raising the strategic reserves factored into the rise oil stocks today reuter 
acq	taft chairman group raises taft broadcasting bid dlrs share 
acq	development corp america dca merged development corp america said its merger with lennar corp len was completed and its stock longer existed development corp america whose board approved the acquisition last november for mln dlrs said the merger was effective today and its stock now represents the right receive dlrs share the american stock exchange said would provide further details later reuter 
acq	teva teviy sells promedico subsidiary teva pharmaceutical industries ltd based israel said sold its wholly owned promedico subsidiary foreign investors for four mln dlrs said the book value the unit about mln dlrs teva said will continue market promedico products through its wholly owned subsidiary salomon levin and elstein ltd reuter 
earn	new milford savings bank nmsb raises payout qtly div cts cts prior pay april reord march reuter 
acq	mart ends talks sell stores mart corp said recent talks sell remaining kresge variety stores and their underlying real estate woolworth have ended robert stevenson mart vice president told reuters the talks which began about six weeks ago ended declined give reason kresge the forerunner what now the mart chain the name was changed mart stevenson said selling and buying real estate our real estate division and woolworth was interested some our properties the talks were casual nature said the kresge stores that are scattered around the country downtown and suburban locations said stevenson said mart will continue operate the stores the stores are profitable the only decision mart has made that will continue operate them said kresge had been nationwide chain variety stores reuter 
earn	institute clinical pharm plc icpyy year shr cts net revs note dollar amounts converted from irish pounds noon buying rate the federal reserve bank new york dec dlr per one irish pound the equivalent rate dec was dlr equals one irsh pound full name company the institute clinical pharmacology plc based dulbin ireland reuter 
earn	icn biomedicals inc bimd qtr feb net shr cts eight cts net sales avg shrs reuter 
earn	applied circuit technology acrt qtr loss period ended january shr loss two cts loss cts net loss loss revs note full name applied circuit technology inc reuter 
earn	frisch restaurants inc frs sets quarterly qtly div cts cts prior pay april record april six reuter 
earn	federated department stores inc fds qtr jan end shr dlrs dlrs net mln mln sales billion billion avg shrs mln mln year oper shr dlrs dlrs oper net mln mln sales billion billion avg shrs mln mln note latest year net excludes mln dlr charge from loss early debt extinguishment net includes charges mln dlrs both periods latest year charges mln dlrs both periods earlier year from merger divisions investment tax credits three mln dlrs dlrs quarter and dlrs mln dlrs year latest year net includes nine mln dlr provision for loss disposition two abraham and strauss stores and preopening expenses for another latest year net includes gain from sale interest fort worth texas shopping center dlrs latest year net both periods includes gain dlrs from sale interest memphis tenn shopping center prior year net includes gain dlrs sale boston store division reuter 
earn	clothestime inc ctme qtr net shr cts cts net sales mln mln year shr cts cts net sales mln mln reuter 
earn	video library inc vlvl qtr loss shr loss two cts profit three cts net loss profit revs year shr profit cts loss two cts net profit loss revs mln avg shrs reuter 
earn	chemie linz expects sharply higher loss state owned chemie linz likely record loss some mln schillings compared with mln loss company spokesman said falling sales and lower world prices fertilisers were largely responsible for the sharp increase along with the effects the dollar fall which has helped give fibre producers competitive edge told reuters the firm would have made small profit had not been for mln schillings lost subsidiary merx handelsgesmbh oil trading merx has since withdrawn from the oil market the firm will announce results july reuter 
earn	cabre exploration ltd six mths jan net shr cts cts net revs reuter 
acq	dudley taft raises bid for taft broadcasting tfb dudley taft and narragansett capital inc said was prepared raise its bid acquire taft broadcasting more than dlrs per share taft through theta sent and letter taft board directors stating was committed purchasing the broadcasting company and was ready discuss all aspects the purchase the company said items discussed included price structure and form consideration taft said was prepared negotiate transaction which taft broadcast shareholders would receive excess dlrs per share reuter 
acq	allwaste alws buy related company allwaste inc said entered into agreement principle acquire all the outstanding common related air moving and industrial services company did not disclose the name the company allwaste which preforms air moving and related services said will swap shares its common valued mln dlrs with the company acquiring said the acquisition subject negotiation final agreement reuter 
crude	exxon xon may close one french refinery exxon corp the world largest oil company said published interview today that was reviewing its worldwide refinery operations and might decide close its french refineries lee raymond exxon new president singled out the possibility closure one exxon refineries france during the interview exxon spokeswoman confirmed that raymond had specifically mentioned refineries france but said that specific refinery had been named she also said that all exxon opertations were under constant review exxon currently has two refineries france fos the mediterranean with capcity barrels per day and port jerome west paris with similar capacity petroleum intelligence weekly influential trade journal said its current issue that they understood that exxon was looking the possibility refinery closures antwerp southern france possibly italy paul mlotok oil analyst with salomon brothers inc said that with the closures exxon made europe and the improvement the european refining situation its future profits there should good exxon and other major oil companies have closed bunch refineries europe upgraded the rest and shaken many the indepedents out the market now with demand for products rising and efficient operations exxon should show superior earnings mlotok said just after royal dutch they are seen one the highest grade refiners europe added industry sources said that the oil companies were likely feel greater pressure their operations southern europe where competition from the opec countries increasing these producers move further into downstream operations piw said that refiners the mediterranean can expect increased shipments from saudi arabia and other opec export refineries piw said sales from libya algeria and elsewhere are expected reclaim markets lost italian and other european refiners result the abundance cheap netback oil last year reuter 
acq	soros group has goodrich stake investor group led new york investor george soros said acquired pct stake goodrich common stock investment the group said paid about mln dlrs for the goodrich shares which are being held quantum fund netherlands antilles investment firm advised soros said all the shares were bought between dec and march the group said reserved the future right buy additional shares and formulate other purposes plans regarding its goodrich investment reuter 
acq	taft broadcasting says will continue review options response latest bid 
acq	court enjoins zico investment tender for bancroft convertible fund 
acq	steinhardt group has pct holiday hia group led new york investor michael steinhardt told the securities and exchange commission bought pct stake holiday corp common stock investment the group said paid mln dlrs for its mln holiday shares which were bought since feb the same time group members said they held short positions the stock totaling shares addition steinhardt himself the group includes steinhardt partners and institutional partners two investment firms which steinhardt one the general partners reuter 
earn	scor corp sure qtr net oper shr cts cts oper net mln mln year oper shr cts four cts oper net mln note excludes gain one per share loss two cts the quarter and gain cts per share gain six cts the year from investments also excludes extraordinary gain one per share fourth quarter and gain one per share one the full year period reuter 
earn	genstar sale boosts belgian societe generale net societe generale belgique belb said the near doubling net profits was due large part the sale shares genstar corp the company which announced net non consolidated profit billion francs compared with billion said its current profits rose pct last year without giving further figures however added statement that the company made major capital gains sales during the year particular from the sale genstar shares societe generale governor rene lamy told last november annual meeting that asset disposals would total around billion francs including the sale genstar shares imasco limited ims predicted profit extraordinary items two billion francs after rough balance today statement societe generale gave figures for extraordinary gains reuter 
earn	westerbeke corp wtkb qtr jan loss shr loss cts profit six cts net loss profit revs avg shrs reuter 
acq	court enjoins tender for bancroft btv bancroft convertible fund said the district court for the district new jersey issued preliminary injunction enjoining zico investment holding inc tender offer for bancroft said the court order prevents zico from buying any shares tendered them during the offer which began feb the tender offer blocked the court zico offered buy shares about pct bancroft outstanding stock for dlrs share previously zico had bought bancroft shares for dlrs share giving about pct the company the recent offer had gone through the zico would have owned slightly more than pct bancroft outstanding shares reuter 
money-fx	zambian exchange auction resume end march zambia will reintroduce modified foreign exchange auction the end this month part new two tier exchange rate central bank governor leonard chivuno said chivuno told press conference the end three weeks negotiations with the international monetary fund imf that there would fixed exchange rate for official transactions and fluctuating rate decided the auction for other types business the bank zambia previously held weekly auctions distribute foreign exchange the private sector and determine the kwacha exchange rate but these were suspended the end january president kenneth kaunda said the time that was suspending the auction system view the rapid devaluation and violent fluctations the exchange rate which had resulted business and banking sources said another reason for suspending the auction was that the central bank was low foreign exchange and was weeks behind paying successful bidders the kwacha stood per dollar when the auction system was first introduced october but slid around per dollar the time was suspended months later since then zambia has operated fixed exchange rate about nine kwacha per dollar reuter 
earn	jamesway corp jmy qtr jan net shr primary cts cts shr diluted cts cts net revs mln mln avg shrs primary avg shrs diluted year shr primary dlrs dlrs shr diluted dlrs dlrs net mln year revs mln mln avg shrs primary avg shrs diluted note includes after tax lifo charges dlrs dlrs for qtr and dlrs dlrs for year reuter 
acq	taft tfb continue review alternatives taft broadcasting said its board continues explore alternatives such possible financial restructuring response theta corp offer dlrs per share for taft stock last week taft rejected dlr share bid theta investment group headed taft vice chairman dudley taft taft also said the new proposal would submitted the board but decision had been made with respect the sale the company the proposal theta said was prepared discuss all aspects the offer including price structure and form consideration and would prepared negotiate transaction which shareholders would receive value excess dlrs per share taft said theta requested that the company cooperate and provide with information subject appropriate confidentiality agreement the company declined comment beyond this statement reuter 
crude	lawson oil tax breaks help new fields revenue two new tax relief measures for oil producers announced today are aimed encouraging developments the north sea ahead and boost opportunities for the offshore supplies industry the inland revenue said post budget statement earlier chancellor the exchequer nigel lawson announced his annual budget parliament that from today companies will allowed offset pct qualifying development expenditure certain future oil fields against petroleum revenue tax prt date full relief was allowed for expenditure individual field itself when its income stream began but was not immediately available against other development expenditure the statement said the new relief will apply fields outside the southern basin for which development consent first given after today and will improve the post tax economics new developments and encourage companies proceed with project which might have been delayed said lawson also announced that would henceforth allow certain expenditure oil related research which does not present qualify for prt relief offset against prt liability this means oil related expenditure the the continental shelf which has not become allowable particular field within three years being incurred allowed against prt liability any oil field the inland revenue said this brings the scope prt relief for research costs more line with corporation tax relief measures and planned encourage general research into ways reducing field development costs said due course the industry should benefit over mln stg year calculated the inland revenue statement also included other technical measures that lawson did not comment his budget speech these included measures allow companies balance their shares prt exempt oil allowances through reallocation two past periods allowance utilisation tidier rules incorrectly allowed prt expenditure reliefs were announced while there were also ammendments rules corporation tax and advance corporation tax relating the called ring fence activities the and its continental shelf the finance bill will have provisions for the implementation measures announced november said gareth lewis davies north sea expert with stockbrokers wood mackenzie and inc edinburgh thought the two reliefs prt would help the depressed offshore industry said the pct cross field allowance relief would favour chances that development smaller north sea fields such osprey don and arbroath would brought forward early development the larger miller and bruce oil fields might also encouraged said lewis davies said the measure might also aid the offshore construction industry which suffered huge amount lay offs under the price slump more than pct last year pointed out that the relief only applies the development new fields outside the southern basin this means more jobs could created the fields the central and northern sectors the north sea are deeper than the south and thus have greater capital and labour requirements the waters are deeper than the south said the prt relief for certain research expenditure would help fundamental research the oil industry although the benefits this research would not seen for several year reuter 
earn	shoney inc shon qtr feb net shr cts cts qtly div four cts four cts prior net mln revs mln note qtly div payable april shareholders record april three reuter 
acq	att philips bid for cgct outlined american telephone and telegraph and philips telecommunications apt would hold pct through direct and indirect holdings france cie generale constructions telephoniques joint bid with french partners for the soon privatised firm succeeds director one the partner firms said marc mathieu societe anonyme telecommunications sat told journalists the bid foresaw direct stake pct for apt the joint firm set the att and the philips gloeilampenfabrieken pglo the other pct would owned holding company made sat apt cie midi mcdp and five mutual funds under french law foreign investors are restricted pct direct stake privatised companies but can boost their stake pct through indirect holdings the make the holding company however subject close discussions within the government due legal queries over the nationality the mutual funds finance ministry official said although bought french citizens they are managed foreign banks morgan guaranty trust new york and banque neuflize schlumberger mallet controlled algemene bank nederland abnn sat spokesman said cgct which controls pct the french public telephone switching market sold the government for mln francs private tender five groups are bidding for the company and the government has said will choose cgct new owner the end april apt vice president wim huisman told news conference capital increase was envisaged sat apt wins cgct but declined give details say how increase would affect foreign stakes cgct cgct posted losses mln francs sales three billion after losses mln francs joint sat apt statement added that buyers were committed investing mln francs cgct research and production plants the apt sat offer includes provision for cgct produce apt ess prx switching technology and adapt french standards the tender was launched after draft agreement for att take over cgct was abandoned following the introduction the french government privatisation laws which reopened bidding among wider range applicants other candidacies take over cgct include west germany siemens sieg allied with schneider schn subsidiary jeumont schneider sweden telefon ericsson eric allied with matra matr and bouygues bouy italy italtel and canada northern telecom ltd ntl reuter 
interest	analysts see early one point cut base rate british bank base lending rates are likely fall much one full point pct this week following the sharp three billion stg cut the central government borrowing target four billion stg set today budget bank analysts said the analysts described chancellor the exchequer nigel lawson budget cautious quality which currency and money markets had already started reward sterling surged foreign exchange markets and money market interest rates moved sharply lower news the budget measures came through the analysts said lloyds merchant bank chief economist roger bootle said expected base rates cut one full point tomorrow this very much safety first budget order get interest rates down said bootle said the money markets had almost entirely discounted such one point cut with the key three month interbank rate down pct from last night and would rather conservative for banks for half point cut now midland bank treasury economist david simmonds said too expected base rates would full point lower friday but this would likely happen via two half point cuts this budget designed please both the markets and the electorate the implications for interest rates are very favourable could have half point cut tomrorow and another such cut before the end the week simmonds said pointing buoyant retail data released yesterday said lawson had done well resist pressures for sharp cut income tax rates the expense lower borrowing target there real need boost private consumption said national westminster bank chief economist david kern said the lower borrowing target set the budget had increased the likelihood early one point base rate cut kern said the budget would have analysed carefully particular see how exactly lawson planned achieve the sharper than expected borrowing target cut before one point base rate cut could implemented but providing the budget small print was convincing and suspect will entirely possible that see one point off base rates the end this week kern said bootle lloyds said the expected base rate cut would pave the way for early one point cut mortgage lending rates this would help achieve lawson lower than expected consumer price inflation target four pct end said base rates were cut last week pct from pct after sustained pressure from the foreign exchange money and government bonds gilts markets but building societies said they would not cut lending rates until base rates had fallen one full point reuter 
acq	toussie group sells heck hex shares shareholder group led new york investor robert toussie told the securities and exchange commission sold off most its holdings heck inc common stock but reserved the right again seek control the company the future the group which includes the edward viner and brokerage said sold shares since march leaving with shares pct the total outstanding the group had proposed takeover heck september but later withdrew the offer and heck march filed for protection from its creditors under federal bankruptcy law reuter 
acq	cyclops cyl holder withdraws takeover motion dixons group plc which battle with cyacq corp for control cyclops corp said cyclops shareholder had agreed withdraw motion district court prevent dixons from completing its tender offer for cyclops which expires est today dixons did not name the shareholder and did not disclose the holder stake cyclops reuter 
earn	noma industries ltd year net shr cts cts net mln mln revs mln mln avg shrs mln mln note prior year shr restated for june two for one stock split reuter 
acq	firm has coopervision eye stock will buy more siebel capital management inc california investment adviser told the securities and exchange commission sec bought mln coopervision inc common shares pct the total outstanding its sec filing the firm said intends acquire more stock and may attempt influence management the company make major changes the company business corporate structure siebel said made net purchases coopervision shares since jan reuter 
acq	american cyanamid acy buys company american cyanamid said bought the pct interest cyanamid fothergill ltd held fothergill and harvey plc making the unit wholly owned subsidiary the unit manufactures structural materials including advanced composites adhesives and aluminum honeycomb for the european space industry the current management will remain place and the unit will continue its locations wrexham the company said reuter 
earn	noel industries inc nol qtr jan loss shr loss cts loss cts net loss loss revs reuter 
acq	group boosts gelco gel stake pct investor group including new york based mutual shares corp and mutual qualified income fund inc told the securities and exchange commission raised its stake gelco corp common stock shares pct the total outstanding the group said its most recent purchases included shares bought between january and march the group said purchased the shares for investment purposes reuter 
earn	oshman sporting goods inc oshm qtr net qtr ended jan shr cts dlrs net revs mln mln avg shrs year shr cts dlrs net revs mln mln avg shrs note net includes lifo gains dlrs dlrs for qtr and charges dlrs dlrs for year reuter 
earn	university patents inc upt qtr jan net oper shr cts cts oper net revs six mths oper shr cts cts oper net revs note prior year excludes income from discontinued operations cts per share the quarter and cts per share the year reuter 
earn	freedom federal frfe sets initial payout freedom federal savings bank said voted its first cash dividend cts share payable april record march the annual dividend will cts share said reuter 
earn	hospital staffing services hssi qtr net qtr ends feb shr six cts three cts net revs note full name hospital staffing services inc prior year includes extraordinary gain one per share reuter 
crude	plains plns posts reserves increases plains resources inc said that december its estimated proved oil and gas reserves rose pct mln barrels from mln barrels and proved developed reserves rose pct four mln barrels from mln barrels year ago the company said its year end reserves did not include the oil and gas reserves houston oil fields which recently agreed merge with pending shareholder approval mid april approved the merger will add another mln barrels the company reserve base reuter 
earn	oshman oshm cites weak regional economies oshman sporting goods inc said earnings for the fourth quarter ended january were affected the weak economies texas oklahoma and louisiana resulting drop net earnings dlrs cts share from dlrs dlrs share for the year ago quarter the company also said sales the west coast were hurt late snows and poor skiing conditions same store sales declined pct for the quarter and pct for the year for the full year oshman net earnings fell dlrs cts share from dlrs dlrs share the company said opened nine stores and closed three year end the company said was operating oshman stores and abercrombie and fitch stores reuter 
earn	worthington industries inc wthg qtr net qtr ended feb shr cts cts net mln mln revs mln mln nine mths shr cts cts net mln mln revs mln mln note shr data adjusted for for stock split paid october reuter 
crude	warns dependence foreign oil white house ordered report said that growing reliance foreign oil into the year could have potentially damaging implications for national security the energy department study discusses several options curb reliance foreign oil but makes recommendations president reagan and most congressmen have previously ruled out tax foreign oil way curb imports and help the depressed domestic oil industry energy secretary john herrington said statement that although have made gains energy security the last six years this report shows that there justification for national concern both over declining competitiveness our domestic oil and gas industry and over rising oil imports the report said imports last year were pct consumption and the mid could rise pct among the report options ease reliance foreign oil are several already advocated the reagan administration president reagan ordered the study last september citing determination that the country never again become captive foreign oil cartel referring the opec led oil shortages and sharp prices increases the the report said import fee would raise prices and help make economical for oil firms find and produce new oil well cut imports but the whole the tax would depress the nation economy reuter 
acq	vtx elecronics vtx sets sdtock split vtx electronics corp said its board declared five for four stock split payable april nine holders record march reuter 
acq	coastal cgp sees increase profits coastal corp said expected earnings for significantly above profits mln dlrs last year letter shareholders appearing the company newly issued annual report coastal chairman oscar wyatt did not elaborate how much earnings were expected increase the profits coastal natural gas production and pipeline company were halved from levels due slumping energy prices the company sales totaled billion dlrs last year coastal also said sold its natural gas for average price dlrs per mcf drop pct from the previous year oil and natural gas liquids sold for average dlrs barrel reduction pct the houston based company which produced daily average mln cubic feet gas and barrels oil said had proved reserves yearend mln barrels oil and billion cubic feet natural gas average reserve replacement costs were dlrs per barrel oil equivalent during the past three year period representing little more than half the industry average the company said coastal more than gasoline retail outlets were operated profitably during and are expected continue the company said reuter 
earn	repap enterprises corp inc qtr net shr profit cts loss nine cts net profit mln loss mln revs mln mln year shr profit cts profit nine cts net profit mln profit mln revs mln mln note full year results include extraordinary loss one mln dlrs three cts per share reuter 
acq	norstar nor sets acquisition for stock norstar bancorp said has agreed principle acquire united national bank callicoon exchanging three norstar common shares for each the united shares outstanding based the recent price norstar stock said the proposed tax free exchange would have market value about mln dlrs norstar said the acquisition subject approval united holders and state and federal regulators united has assets mln dlrs reuter 
crude	oil tax would not affect pdvsa champlin deal eventual oil import fee the united states will make difference champlin petroleum corp joint venture agreement signed today with petroleos venezuela pdvsa champlin chairman william adams said this was aspect which was discussed length during the negotiations but can say our contract covers all eventualities this regard told reuters during the signing ceremony here venezuela energy and mines minister arturo hernandez grisanti earlier described the agreement under which pdvsa buys pct champlin corpus christi refinery one more step the maturation and presence our oil industry world markets union pacific chairman william cook said the agreement will beneficial both sides combining secure source supply with modern refinery and access markets are looking long term relationship and time protectionist tendencies the congress there are clear benefits both sides said adams said pdvsa crude would remain competitive even with oil import fee because champlin had invested heavily over the years adapingthe texas refinery process venezuelan heavy crudes with coking and hydro treating facilities and obtain competitive product yield therefore while the danger oil import fee has been consideration the negotiations and remains seen what such fee would represent not foresee any impact today agreement adams said said the refinery could run crude heavy venezuela bolivar coastal field bcf api without any difficultiesand would probably move over time heavier diet take advantage bigger margins the refinery has capacity process bpd venezuelan high sulphur content heavy crude with pct yield white products reuter 
earn	vtx electronics corp vtx qtr net shr cts cts net sales avg shrs year shr cts cts net sales mln mln avg shrs note share adjusted for five for four stock split declared today reuter 
earn	mortgage growth investors mtg qtr feb shr cts cts net qtly div cts cts prior avg shrs note dividend payable april shareholders record march reuter 
earn	shoney inc shon qtr feb net shr cts cts net mln revs mln mln avg shrs mln mln note sixteen week periods reuter 
acq	fortune savings buy financial fssl branch fortune savings bank said agreed buy the deposits and assume the leasehold financial security savings and loan association fssl branch here terms the agreement were not disclosed fortune said the agreement subject regulatory approval also said that the transaction approved financial would generate profit the sale reuter 
money-fx	gulf arab ministers discuss economic cooperation finance and economy ministers the gulf cooperation council gcc opened two day meeting discuss further economic integration officials said they said issues discussed the ministers from bahrain kuwait oman qatar saudi arabia and the united arab emirates uae would include recommendation central bank governors common currency exchange rate the governors agreed january denominator which base currencies the six states any decision will forwarded for final approval gcc summit meeting due saudi arabia late this year the six states have different currency systems saudi arabia bahrain qatar and the uae are linked theory the international monetary fund basket currencies the special drawing right sdr but practice the dollar oman links its currency formally the dollar while kuwait pegs its dinar trade weighted basket devised itself the denominator chosen central bank governors has not been disclosed but some bankers expect the currencies linked the sdr trade weighted basket opening the meeting ahmed tayer the uae minister state for finance and industry said implementation joint economic agreements increasingly linking the interests gcc citizens together the general assembly the gulf investment corporation met abu dhabi earlier under the chairmanship bahrain finance and national economy minister ibrahim abdul karim the corporation was formed contribute joint economic and investment projects the gcc officials said the corporation assets rose billion dollars last year from billion the end reuter 
earn	photographic sciencies corp pscx qtr loss oper shr loss six cts profit four cts oper net loss profit sales avg shrs year ope shr profit five cts profit five cts oper net profit profit sales avg shrs note net excludes losses from discontinued operations dlrs dlrs quarter and dlrs dlrs year year net excludes dlr tax credit year includes only six months operations due change fiscal year reuter 
earn	pueblo international inc pii qtr jan shr cts cts net sales mln mln avg shrs year shr dlrs dlrs net sales mln mln avg shrs note net includes tax credits dlrs dlrs quarter and dlrs dlrs year thirteen and week periods latest year net includes gain dlrs for first nine months from change pension accounting for which results first three periods restated reuter 
earn	hre properties hre qtr jan net shr cts cts net gross income note net includes gains sale real estate dlrs dlrs reuter 
earn	photographic sciences corp pscx qtr shr loss cts profit three cts net loss profit revs mln six months shr loss cts profit six cts net loss profit revs mln mln note effect change from fiscal calendar year company reported results for six months period ended december six months includes one time gain dlrs reuter 
earn	federal paper board fbt sets payout qtly div cts cts prior pay april record march reuter 
earn	shoney inc shon sets payout qtly div four cts four cts prior pay april record april three reuter 
acq	taft tfb stock rises proposal taft broadcasting stock rose almost three points today its vice chairman and investment group proposed sweeten takeover offer for the company however several arbitragers said they would shy away from the stock its current price levels since unclear how high bidding for the company would and whether the company would agree takeover there are too many uncertainties said one arbitrager taft stock rose dudley taft taft vice chairman and narragansett capital inc said they sent letter the taft board stating they were committed pursuing acquisition the broadcast company and were prepared negotiate transaction excess dlrs per share the company responded that the proposal would submitted the board directors but that decisions have yet been made sale the company someone betting this company will for dlrs per share said one arbitrager arbitragers said the stock risky buy current levels unless offer was accepted the dlr per share range they said make arbitrage investment this level would chancy since will take long time for any transaction completed because regulatory approvals necessary for the broadcast properites taft earlier rejected dlr per share billion dlr bid from the investment group the company said rejected the bid inadequate based advice goldman sachs and its financial adviser said would consider alternatives such restructuring arbitragers speculated bidding war may erupt for taft which has two large shareholders investment group led robert bass and carl lindner chairman american financial corp the bass group holds pct taft and lindner holds pct the taft family which founded the company almost years ago has about pct lindner last week told the securities and exchange commission may interested making bid for taft could see things got really crazy that might for dlrs per share said one arbitrager but speculated probably would not even taken over for more than price the another speculated that lindner might bid but speculated the investor would not really interested running the company lindner was unavailable for comment dennis mcalpine analyst with oppenheimer and said had speculated the company might considering leveraged buyout ideally you have break this thing satisfy all the interests involved said adding the two largest shareholders might interested pieces taft said the highest takeover price calculated for the company has been about dlrs per share but that the highest estimates wall street have been about said the latter would based more optimistic expectations for the broadcast industry reuter 
crude	herrington says may recommend tax benefits for oil industry 
crude	herrington says may call for oil tax benefits energy secretary john herrington said may recommend the white house that the domestic oil industry given tax benefits help produce more oil and head off increasing dependence foreign oil said also news conference that would recommend the white house that the fill rate the strategic petroleum reserve increased from its planned barrels per day the oil reserve fill rate capacity barrels day herrington said had always advocated greater fill rate for the petroleum reserve but the rate had been kept down because budgetary constraints herrington did not disclose what tax incentives might advocate but officials have shown interest tax benefits for oil and gas exploration and for research and development into new ways extract oil which now considered uneconomical produce made the remarks conjunction with the release the energy department study oil impact national security herrington said that before disclosed what recommendations for tax benefits for the oil and gas industry might make would raise the matter with the white house economic policy committee see the proposals increase oil production made good tax policy said would like increase production one mln barrels day the report said that the end the century the united states may relying foreign sources for pct its oil consumption posing serious economic and national security threat reuter 
earn	consolidated stores corp cns qtr jan net shr cts cts net sales mln mln avg shrs mln mln year shr cts cts net mln mln sales mln mln avg shrs mln mln note prior year net includes dlr tax credit share adjusted for two for one stock split june reuter 
crude	wainco oil wol completes wildcat well wainco oil corp said has completed wildcat well its grandmarais prspect jefferson davis parish which currently producing rate mln cubic feet gas and barrels condensate daily the company said has pct working interest the well which flowing from lower frion tweedel sand perforations between and feet additional untested but possibly productive zones exist behind the pipe added said the remaining owners are privately held petroleum companies reuter 
crude	warns dependence foreign oil white house ordered report said that growing reliance foreign oil into the year could have potentially damaging implications for national security the energy department study discusses several options curb reliance foreign oil but makes recommendations president reagan and most congressmen have previously ruled out tax foreign oil way curb imports and help the depressed domestic oil industry energy secretary john herrington said statement that although have made gains energy security the last six years this report shows that there justification for national concern both over declining competitiveness our domestic oil and gas industry and over rising oil imports the report said imports last year were pct consumption and the mid could rise pct among the report options ease reliance foreign oil are several already advocated the reagan administration president reagan ordered the study last september citing determination that the country never again become captive foreign oil cartel referring the opec led oil shortages and sharp prices increases the the report said import fee would raise prices and help make economical for oil firms find and produce new oil well cut imports but the whole the tax would depress the nation economy the study was outlined new york times report today reuter 
earn	hospital staffing services inc hssi qtr feb oper shr six cts two cts oper net revs note prior year net excludes dlr tax credit reuter 
earn	viatech inc vtk year net shr dlrs cts net revs mln mln reuter 
earn	interactive technologies inc itxi qtr net shr nine cts eight cts net sales avg shrs note periods end january and respectively reuter 
interest	fhl banks sets pct pct pct rates billion dlr offer 
crude	opec wants dlr oil price oapec official opec believes world oil prices should set around fixed average price dlrs barrel oapec assistant general secretary abdelaziz wattari said today speech european community oapec opec seminar luxembourg released here wattari said opec believes the world energy trade should kept without restrictions and should built around fixed average price dlrs but warned that defense the dlr barrel level had caused hardship for opec countries who had been forced curtail production and warned that such cutbacks opec states could not sustained some cases for opec stabilize the world oil price what now considered the optimal level dlrs barrel its member countries have had undergo severe hardship curtailing production wattari said such cutbacks cannot certain cases sustained wattari said well financial and marketing pressures some states depended associated gas output for domestic use and oil cutbacks had left insufficient gas supplies added wattari noted that total opec output was below the organization agreed ceiling for all member countries february although this had meant sacrifices the effect these sacrifices meant that market stability though restored good level was still under pressure wattari said lasting stability the world market requires wider scope international cooperation added said some non opec oil producing countries had shown political willingness after cooperate with opec but although cutbacks announced these states were politically significant and welcomed opec they were insufficient terms volume added the overall majority non opec producers have not responded sufficiently opec calls for supply regulation said wattari said dlr barrel price was optimal allowed investment the oil industry outside opec continue while not generating excessive cash flow for otherwise unviable high cost areas outside opec such price would longer encourage protectionist measures added fadhil chalabi opec deputy secretary general also addressing the seminar added that discipline was still needed prevent violent fluctuations the oil market cooperation between arab states and europe was advantageous for both sides chalabi said adding hoped cooperation would ultimately lead full fledged euro arab dialogue reuter 
interest	fhl banks sets rates debt offering the office finance federal home loan banks said set rates today debt offering pct its billion dlr issue pct billion dlr issue and pct mln dlr issue said the issues which are for settlement march mature march march and march respectively the office said telephone confirmation allotments must received hrs est today and that secondary trading will begin hrs est tomorrow reuter 
earn	santa anita cos sar qtr net oper shr cts cts oper net revs mln mln year oper shr dlrs dlrs oper net revs mln mln avg shrs note current qtr and year figures exclude losses from discontinued operations dlrs and dlrs respectively and disposition gain mln dlrs both periods prior qtr and year figures exclude gain from discontinued operation dlrs and loss dlrs respectively reuter 
acq	midway airlines mdwy sets holder rights plan midway airlines inc which has frequently been mentioned acquisition target said declared shareholder rights plan holders will get dividend one preferred share purchase right each outstanding share common stock each right when exercisable will entitle the holder purchase one one hundredth share series junior participating preferred stock for dlrs the rights are intended assure that all holders receive fair treatment the event takeover the company said this not response known effort acquire control the rights will exercisable days after person group buys pct the company common announces commences tender offer that would result acquisition pct more its common midway can redeem the rights two cts each any time prior expieration days after the acquisition any person pct more the companyt common said midway acquired each right will entitle its hodler purchase number the acquiring company common shares having market value that time twice the right exercise price the dividend will payable holders record april six and expire years later april reuter 
earn	equion corp equi qtr jan net oper shr cts cts oper net revs mln mln six mths oper shr cts cts oper net revs mln mln note oper net excludes tax credits dlrs dlrs for qtr and dlrs dlrs for six mths note year ago results restated reflect change accounting principle effective august one reuter 
crude	venezuela ecuador oil loan under discussion venezuela has still work out final details its plan supply ecuador with barrels per day crude oil compensate that country for lost exports caused earthquake damage senior petroleos venezuela pdvsa official said have yet finalize details how the compensation will carried out and how opec production quotas will affected said during the signing joint venture deal with union pacific corp today said agreement was initialled visit last week ecuador deputy energy minister fernando santos alvite pointed out that there are some contractual points considered venezuela possibly unique among oil exporters requires its clients sign final destination clauses ensure its oil not resold the spot market ecuador oil minister javier espinosa was quoted today saying venezuela will export the oil ecuador account and remit the revenues quito ecuador would pay back the oil rate bpd said venezuela oil would traded through ecuadorean state oil company cepe but the pdvsa official said the company never allows third parties trade its oil reuter 
earn	temco service industries inc qtr dec shr cts cts net revs mln mln reuter 
earn	great pacific industries inc year net shr dlrs dlrs net revs mln mln reuter 
earn	simmons airlines inc simm qtr loss period end jan shr loss cts loss cts net loss loss revs mln mln six mths shr nil profit cts net loss mln profit revs mln mln avg shrs note prior results restated reflect change value aircraft resulting increase five cts shr for six mths reuter 
acq	temco service industries inc merger ended temco service industries inc said its proposed buyout chairman herman hellman and president harvey newwman has been terminated mutual consent and temco has present intention being acquired any other party reuter 
earn	public service enterprise peg two mths net periods ended february shr cts cts net mln mln revs mln mln avg shrs mln mln mths shr dlrs dlrs net mln mln revs billion billion avg shrs mln mln notes year ago results restated reflect application new accounting for disallowances full name public service enterprise group inc reuter 
acq	pentron corp pen unit buy ice creations pentron corp said its rotational molding inc unit has purchased privately held ice creations unlimited for undisclosed amount cash and other considerations the company said ice creations had sales mln dlrs the year ended may ice creations molder plastics reuter 
crude	oil revenue forecast fall the government forecasts that oil revenues will fall four billion stg the fiscal year from billion and billion the forecast came the treasury financial statement and budget report issued after the chancellor the exchequer nigel lawson annual budget statement parliament the government assuming the price oil will average dlrs barrel line with its earlier forecasts and its oil revenue calculation based exchange rate remaining close current levels the treasury document said the treasury said the oil revenue shortfall will reflect the oil price fall north sea corporation tax paid after time lag the statement calculated that one dlr barrel difference oil prices this year will change revenue about mln stg for the current fiscal year and mln stg full year oil production forecast fall slightly according the statement change one mln tonnes production would alter revenue about mln stg and mln stg full year added total general government receipts for are now estimated billion stg billion more than the budget forecasts and above the autumn statement forecasts despite shortfall billlion oil receipts additional non north sea corporation tax billion stg and vat mln stg account for the bulk the overshoot total general government receipts were forecast rise billion stg fiscal and among the main items besides diminishing oil revenues were projected income tax billion stg from billion the current year non north sea corporation tax forecast bring billion stg after the revised billion and vat revenue should amount billion compared with upwardly revised estimated billion this fiscal year the general government expenditure for the coming fiscal year expected total billion stg from revised billion the current year repayment mln public corporations market and overseas borrowings forecast bring the total public sector borrowing requirement down billion stg from this year revised billion the treasury said reuter 
earn	reynold metals rlm furman selz report shares reynolds metals rose sharply after wall street firm furman selz mager dietz and birney issued report focusing the strong earnings potential from the company australian gold holding traders familiar with the report said traders said the report notes that earnings from australian gold holdings could worth about cts cts share this year and dlrs two dlrs share reynolds metals rose three points volume shares reynolds owns stakes the mount gibson gold project and the boddington gold project both located australia analyst familiar with the two mines said the properties together have potential value dlrs dlrs share for reynolds the analyst who asked not identified said the rise the stock today was likely the result investors that were not completely cognizant the size the importance the reynolds holdings australia traders said the furman selz report indicates that gold was discovered mixed with bauxite the boddington mine boddington principally bauxite mine the traders said the report goes say that the profits from the boddington gold with substantially reduce the production costs the other metals mined boddington traders said furman selz also boosted its earnings estimates expecting reynolds metals earn dlr share and eight dlrs share last year reynolds reported net earnings dlrs share which included dlrs share for adoption new accounting rules dlrs share for tax loss carryforwards and other extraordinary items reuter 
earn	correction simmons airlines inc simm loss chicago item headlined simmons airlines inc simm qtr loss please reverse qtrs for which figures are reported reuter 
earn	western federal savings bank wfpr ups payout qtly div cts cts prior pay april record march reuter 
crude	opec wants dlr oil price oapec official opec believes world oil prices should set around fixed average price dlrs barrel oapec assistant general secretary abdelaziz wattari said speech european community oapec opec seminar luxembourg released here wattari said opec believes the world energy trade should kept without restrictions and should built around fixed average price dlrs wattari noted that total opec output was below the organization agreed ceiling for all member countries february although this had meant sacrifices the effect these sacrifices meant that market stability though restored good level was still under pressure wattari said lasting stability the world market requires wider scope international cooperation said reuter 
earn	diodes inc dio qtr jan net shr profit one cts profit four cts net profit sales nine mths shr loss four cts profit nine cts net loss profit sales reuter 
acq	allegheny beverage says group interested acquiring its service america corp unit 
earn	mony real estate investors mym qtr feb oper shr nine cts cts qtly div cts cts prior oper net total income nine mths oper shr cts cts oper net total income mln mln note current year net both periods includes dslr provision for possible losses net excludes gains from sale investment dlrs dlrs quarter and nine mths dividend pay april record march reuter 
earn	hilton hlt sees improved first quarter profits hilton hotels corp expects earnings per share for first quarter fiscal march about cts compared with cts year earlier hilton hotels division president carl mottek said told news conference the company expected costs for its first all suite hotels announced today about mln dlrs initial financing would come from the company cash flow later hilton plans use borrowings from traditional sources added hilton which hopes build all suite hotels within five years may take partners the new venture added reuter 
earn	heinz hnz poised for record year heinz within sight our consecutive year new records financial growth for the fiscal year ending april chairman and chief executive officer anthony reilly told investment analysts reilly who declined make specific projection said the food company stronger than any time its year history last week heinz reported third quarter earnings rose cts share from cts share sales rose billion dlrs from billion dlrs year earlier reilly said heinz will concentrate backing its big brands new products and services new geography internal growth and acquisitions said heinz ketchup has its highest market share history pct but response question the executive said volume falloff the overall product category concern reilly said weight watchers continues perform well and will generate revenue fiscal approximately mln dlrs reilly told analysts heinz active negotiations build second plant china where entered joint venture with the government forming heinz ufe ltd which produces dry baby food cereal said heinz japan making profit and generating its first substantial dividends and implementation new partnership seoul heinz ltd moving ahead with new manufacturing plant targeted for completion june seoul south korea increase its competitiveness reilly said heinz implemented lowest cost imaginable program targeted manufacturing sales and marketing and procurement said modernization program effect the company united kingdom operations where the labor force trimmed from expected further reduced reuter 
acq	allegheny beverage abev explores unit sale allegheny beverage corp said has been approached group interested acquiring its foodservice unit service america corp the group includes senior management service america but officers allegheny beverage the company said the company has agreed permit the group and its potential lenders perform due diligence review service america said allegheny noted had previously cancelled plans spin off the foodservice subsidiary the company said the group review preliminary and there assurance that acquisition proposal will made made accepted service america had fiscal revenues about mln dlrs about pct allegheny beverage total revenues billion dlrs for the year ended march spokesman for allegheny beverage said declined identify the service america officials the acquisition group feb allegheny said was cancelling the spin off service america but gave reason for doing said would place major emphasis managing service america improve operations and increase earnings the unit service america which allegheny acquired may operates cafeterias and food and beverage vending machines through other subsidiaries allegheny provides coin operated laundry services building maintenance services and retail office and furniture operations fiscal allegheny reported earnings from continuing operations mln dlrs dlrs fully diluted share excluding income mln dlrs from discontinued operations and extraordinary loss mln dlrs may allegheny sold its pepsi cola bottling unit pepsico inc pep for mln dlrs including discontinued operations and the special item net income was mln dlrs dlrs share fully diluted reuter 
earn	marcor maar expects fiscal year profit marcor development inc said expects post profit for its fiscal year ended february about two mln dlrs compared year earlier loss mln dlrs during the prior year the company operated and importing publicly held wholesale food distributor during march last year privately held marcor acquired controlling interest and importing divested the food business renamed the company and began operating real estate investment and service company reuter 
earn	valley resources sets stock split ups payout valley resources inc said its board declared three for two stock split and raised the quarterly cash dividend the pre split shares cts from cts the company said both the split and the dividend are payable april holders record march reuter 
acq	cross boosts frost and sullivan frsl holdings shareholder group led new york investor theodore cross said securities and exchange commission filing that boosted its stake frost and sullivan inc common stock shares pct the total outstanding the group said cross bought shares the open market between feb and march the group had said previously that its frost and sullivan share purchases were for investment reuter 
acq	peru sell state firms cut budget deficit peru will sell about state owned firms trim projected mln dlrs loss this year among government owned companies some companies would sold their entirety and others would privatised only partially according jose palomino president the government state company holding firm the national development council conade told reporters radio interview that the aim was slim projected public sector firm deficit billion intis did not say foreigners would allowed buy all part the companies independent economists warn that the deficit could push inflation between and pct against the govenment target pct palomino said aeroperu the government flagship airline with jet fleet would issue stock for purchase private investors the company registered its first profit eight years earning about mln intis pre tax profits peru has about non financial state firms palomino said the government would soon publish list those sold including those whose shares would offered the lima stock exchange last november palomino said conade plans included the possible sale company producing palm oil and another manufacturing electrical appliances shares could also sold copper mine empresa nacional tintaya the southern state arequipa neither palomino nor conade general manager enrique estremadoyro were available for comment whether foreigners would allowed purchase the companies their secretaries said they were out their offices jose antonio almenara the general manager the lima stock exchange where shares the state owned firms could sold told reuters that the only foreigners who could purchase stock the exchange had tax paying residents peru said foreign stockholders cannot remit profits abroad until least july reuter 
earn	interdyne idyn qtr feb loss shr loss cts loss cts net loss loss sales loss reuter 
earn	killearn properties inc kpi qtr net qtr ends jan shr cts eight cts net revs nine mths shr cts cts net revs reuter 
earn	gateway medical systems inc qtr loss period end jan shr loss one cts profit eight cts net loss profit revs mln nine mths shr profit cts profit six cts net profit profit revs mln mln reuter 
earn	spartech corp sptn qtr jan net shr two cts three cts net revs mln mln note per shr reflects payment preferred dividends reuter 
earn	academy insurance group inc acig qtr net shr profit two cts loss dlrs net profit loss revs mln mln avg shrs mln mln year shr loss cts loss dlrs net loss loss revs mln mln avg shrs mln mln note results include losses nil dlrs three cts share quarter and dlrss three cts share dlrs seven cts share year from discontinued operations reuter 
earn	essex chemical corp esx regular dividend qtly div cts cts prior qtr payable may record april reuter 
earn	hre properties hre qtr ends jan net shr cts cts net revs note qtr includes dlrs two cts per share from gains sale property gain less than one cent per share for prior qtr reuter 
earn	jayark corp jaya qtr ends jan loss shr nil nil net loss loss revs nine mths shr profit nine cts profit two cts net profit profit revs mln mln reuter 
earn	bio vascular inc qtr jan loss shr loss three cts profit two cts net loss profit sales avg shrs reuter 
earn	great american management gami qtr loss period ended jan shr loss cts loss cts net loss loss revs mln mln six mths shr loss dlrs loss dlrs net loss loss revs mln mln note full name great american management and investment inc reuter 
acq	norstar nor buy callicoon bank norstar bancorp said reached agreement principle buy united national bank callicoon through stock exchange valued mln dlrs under terms the agreement norstar would buy all shares united common stock rate three norstar shares for each united share with year end assets mln dlrs united has branches six upstate new york cities all which will become part norstar bank the hudson valley norstar billion dlr multibank financial services company reuter 
earn	academy insurance group inc acig qtr net oper shr profit one loss dlrs oper net profit loss mln year oper shr loss cts loss dlrs oper net loss mln loss mln note excludes investment gains one per share cts the quarter and gains cts per share cts the year excludes loss from discontinued operations three cts per share fourth quarter and loss cts per share loss dlrs the year reuter 
earn	manufacturers hanover corp mhc sets dividend qtly div cts cts prior pay april record april one reuter 
earn	williams industries inc wmsi qtr net qtr ended jan shr cts three cts net revs mln mln six mths shr cts cts net revs mln mln note current six mths revs include mln dlrs revs from john beasley construction wholly owned unit reuter 
earn	hanover cos inc qtr jan loss oper shr loss cts profit cts oper net loss profit revs nine mths oper shr loss dlrs profit cts oper net loss profit revs note oper net excludes tax gains dlrs for year ago qtr and dlrs for year ago nine mths reuter 
crude	senator says energy report assumptions flawed sen pete domenici main sponsor legislation set oil import fee said the administration energy security report was based flawed economic assumptions the new mexico republican said the report did not take into account the last few weeks drop domestic oil production its statement that oil fee would raise prices for consumers the report said decline economic growth result the fee would reduce tax revenues five dlr per barrel oil import fee will provide the stimulus create jobs and investment and raise revenues said reuter 
grain	usda official sees billion dlrs certificates there will seven eight billion dlrs generic certificates the market the end harvest agriculture department official said the commodity credit corp will depend heavily certificates relieve storage problems this year ralph klopfenstein deputy administrator for commodity operations usda told participants the national grain and feed association annual convention klopfenstein said that ccc will not able relocate grain any significant amount this fall certificates will used various programs relieve storage tightness klopfenstein said certificates meet the goal allowing prices below loan levels and providing usda with inventory management tool reuter 
earn	howell corp hwl qtr loss shr profit six cts profit cts net profit profit revs mln mln nine mths shr loss dlrs profit cts net loss mln profit revs mln mln note current qtr net includes writedown mln dlrs net investment company oil and gas properties year ago results restated reflect reclassification coal mining and marketing segment ongoing operation rather than discontinued operation reuter 
earn	sigmaform corp sgma qtr jan net shr one five cts net sales nine mths shr cts cts net sales mln mln reuter 
earn	marcus corp mrcs qtr feb five net shr cts cts net revs mln mln nine mths shr dlrs dlrs net revs mln mln note net includes tax credits dlrs the third quarter and dlrs the nine months compared with dlrs and dlrs the periods reuter 
earn	firstcorp inc fcr raises qtly dividends qtly div class nine cts cts prior qtly div class nine cts cts prior pay april record march reuter 
acq	healthvest hvt buys tennessee medical complex healthvest said acquired the eastwood hospital medical complex memphis from healthcare international inc for mln dlrs cash healthcare international will continue operate the hospital under lease agreement the company said reuter 
acq	ventra buys joint venture leasing ventra management inc over the counter company said acquired joint venture leasing inc for mln venture shares valued mln dlrs joint venture was organized september establish leasing joint ventures with manufacturers and vendors computer equipment result the acquisition and joint venture backlog ventra said expects sales mln dlrs with net profits mln dlrs ventra was organized september and completed public offering mln shares january reuter 
acq	oxford financial buys clancy systems oxford financial inc said acquired clancy systems international inc for undisclosed sum the company said clancy has developed fully automated parking citation system currently use oklahoma city the university california sacramento and pilot program san francisco reuter 
earn	realty south investors inc rsi year net shr dlrs cts net revs investments mln mln note shr figures adjusted for for split feb results reflect operations for eight months ended dec company began operating may reuter 
earn	turner equity investors inc teq payout qtly cash distribution cts cts prior pay april eight record march reuter 
acq	grace gra completes retail unit sale grace and said completed the sale its bermans the leather experts retail business new company management led buyout grace received mln dlrs cash and will record pretax gain about mln dlrs the first quarter the company said additional pretax gain mln dlrs will deferred until realization more fully assured said the diversified chemical and industrial company said the sale completes its program divest retail operations addition the cash payment grace received warrants buy pct the new company and has reinvested about pct the proceeds debt the new firm financing was provided prudential insurance america and affiliates reuter 
earn	wausau paper mills wsau qtr net period ended feb shr cts cts net sales mln mln six mths shr dlrs dlrs net sales mln mln note per share data restated for pct stock dividends paid holders record dec and dec reuter 
earn	taunton savings bank tsbk sets first dividend taunton savings bank said its board declared initial cash dividend six cts per share taunton which went public last june said the rate was based outstanding shares said the dividend was payable april shareholders record march the company said did not know would pay regular dividends the future reuter 
earn	fibronics international inc fbrx qtr loss shr loss cts loss one net loss loss revs year shr loss cts loss nil net loss loss revs mln mln note year ago results restated reflect acquisition spartacus inc febaruary reuter 
earn	telephone and data systems inc tds year net oper shr cts cts oper net revs mln mln avg shrs note net excludes discontinued operations gain dlrs cts share loss dlrs seven cts share net includes charge dlrs from repeal investment tax credits company corrects year per share operating net table which originally ran march reuter 
crude	api says distillate stocks off mln bbls gasoline off mln crude off mln 
earn	cpc international inc cpc qtly div shr cts cts prior payable april record march reuter 
earn	public service enterprise peg two months net period ends february shr cts cts net mln mln revs mln mln year shr dlrs dlrs net mln mln revs billion billion note full name public service enterprise group inc reuter 
earn	damon creations inc dni qtr jan three net shr profit cts loss cts net profit loss revs mln mln year shr loss cts loss dlrs net loss loss revs mln mln reuter 
earn	gates learjet corp glj qtr loss shr loss cts loss cts net loss loss sales mln mln year shr loss dlrs loss dlrs net loss loss sales mln mln reuter 
crude	api says distillate gas stocks off week distillate fuel stocks held primary storage fell mln barrels the week ended march mln barrels from revised mln the previous week the american petroleum institute api said its weekly statistical bulletin the oil industry trade group said gasoline stocks fell mln barrels mln barrels from revised mln and crude oil stocks dropped mln barrels mln from revised mln said residual fuel stocks fell barrels mln from mln barrels api said refinery runs the week rose mln barrels per day bpd from revised mln and refinery use operating capacity was pct from revised pct crude oil imports the week rose mln bpd from revised mln api added reuter 
earn	cpc international inc cpc regular dividend qtly div cts cts prior pay april record march reuter 
earn	cimarron petroleum ltd nine mths net shr cts cts net revs reuter 
earn	electro audio dynamics inc ead qtr jan shr profit cts loss cts net profit loss mln revs mln mln six months shr profit seven cts loss cts net profit loss mln revs mln mln note qtr and six months includes loss dlrs and dlrs respectively from discontinued operations and exclude operations action drug inc acquired company pct owned subsidiary technodyne august net includes gain mln dlrs from sale building and extraordinary gain dlrs from tax loss carryforward share earnings for both periods reflect preferred stock dividends reuter 
earn	technodyne inc tnd qtr net shr profit cts loss cts net profit loss revs mln mln six mths shr profit cts loss cts net profit loss revs mln mln note quarter ends january excludes extraordinary gain six cts per share the quarter and cts the six months excludes discontinued operations loss six cts share the quarter and loss two cts the six months company pct owned electro audio dynamics ead reuter 
earn	sceptre investment counsel ltd qtr net period ended january shr cts cts net revs reuter 
earn	selected utilities dnp hikes payouts duff and phelps selected utilities inc said approved payment higher monthly dividends the closed end investment company approved payment cts april record march five cts payable may record april and cts payable june record may duff and phelps first monthly dividend four cts was paid march noted reuter 
earn	american electromedics corp aeco qtr loss qtr ends jan shr loss three cts loss six cts net loss loss revs six mths shr loss four cts loss seven cts net loss loss revs note company pct owned technodyne inc tnd subsidiary electro audio dynamics inc ead reuter 
acq	lennar len completes acquisition lennar corp said completed the previously announced acquisition development corp america dca consequently said the american stock exchange suspended trading development corp common stock pct subordinated debentures due and pct subordinated debentures due lennar said the debentures will continue traded over the counter reuter 
earn	php healthcare corp phph qtr jan net shr cts cts net revs avg shrs nine mths shr cts cts net revs mln mln avg shrs note net includes tax credits dlrs dlrs for qtr and dlrs dlrs for nine mths reuter 
earn	bankers trust new york corp qtly dividend qtly div cts cts prior pay april record march reuter 
earn	hallwood group inc hwg qtr jan loss shr loss nine cts profit cts net loss profit revs six mths shr profit nine cts profit cts net profit profit revs note includes tax loss carryforward gains dlrs dlrs quarter and gains dlrs dlrs the six months reuter 
acq	paperboard plans bid acquire belkin paperboard industries corp said planned make unconditional dlr share cash offer for belkin inc mln common and mln non voting shares paperboard said balaclava enterprises ltd owned morris belkin agreed tender pct belkin common shares added that case competing offer more than dlrs had the right match did not match the offer balaclava could accept the competing bid the two companies manufacture linerboard and boxboard from recycled fibre their combined revenues are about mln dlrs reuter 
earn	cathay pacific airways net profit billion dlrs mln 
earn	cathay pacific airways ltd caph year shr cents final div cents making cents comparison net billion dlrs mln turnover billion dlrs billion note dividend payable may books close may note company floated april and now pct owned swire pacific ltd swpc pct hongkong and shanghai banking corp hkbh and pct china international trust and investment corp reuter 
acq	paper says may seek curb foreign takeovers the reagan administration will consider curbing foreign takeovers security sensitive industries such semiconductors and computers the new york times said quoting unnamed senior administration official think there strong sentiment here that some industries are not totally for grabs the paper quoted the official saying two the most visible industries are semiconductor and computer companies said the official who the newspaper said was central figure the opposition japan fujitsu ltd itsu takeover bid for fairchild semiconductor corp the fairchild fujitsu deal was abandoned monday and industry analysts said the move was victory for the reagan administration its drive beat back japanese competition the important computer chip manufacturing industry officials told reuters last week that commerce secretary malcolm baldrige and defence secretary caspar weinberger fought the planned sale fairchild french controlled schlumberger ltd slb japan largest computer maker because could have left the military dependent foreign sources for vital technology the new york times quoted baldrige saying the time had come limit takeovers security sensitive areas everybody wants open investment policy but there have some exceptions for the national interest baldrige was quoted saying the newspaper said baldrige and weinberger are expected bring the takeover issue before top level interagency policymaking group such treasury secretary james baker economic policy council the president national security council reuter 
acq	philippines social security buy san miguel shrs the philippines social security system sss planning buy eight mln shares diversified brewer san miguel corp smc smc chief financial officer ramon del rosario said told reporters the government organisation had expressed interest one seat smc man board and was preparing invest mln pesos assuming purchase price pesos share the shares involved the proposal were part the block mln shares owned the united coconut planters bank ucpb and sequestered the government the block split between class and class stock smc also proposed sell further five mln shares soriano corp the family company san miguel president andres soriano del rosario said the shares are worth some mln pesos recent prices del rosario said the mln shares the block which are open foreign ownership would probably sold unidentified foreign purchasers said smc and ucpb would meet later this week try resolve disputes over the pricing the shares president corazon aquino earlier this month established arbitration panel settle row over the disposal the shares their initial sale soriano through smc hong kong unit neptunia corp was blocked the presidential commission good government the commission sequestered the stock suspicion that the real owner the block was eduardo cojuanco the former chairman san miguel and the ucpb and close associate deposed former president ferdinand marcos reuter 
earn	sun hung kai ltd year shr cents final div six cents three making nine cents net mln dlrs mln note extraordinary gains mln dlrs mln special bonus four cents nil dividend payable may books close april may reuter 
acq	economic spotlight japan buying overseas firms more and european firms will falling prey japanese corporations bulging with cash and eager extend their reach further overseas according merger and acquisitions specialists polled reuters already rich japanese companies have pounced banks steel and other businesses the latest attempt fujitsu ltd itsu japan biggest computer maker unsuccessfully bid for fairchild semiconductor corp microchip maker which supplies components for supercomputers nomura securities ltd nmsc and daiwa securities ltd dsec japan two largest brokerage firms are seeking niche the and european securities markets while the country huge banks are looking for strongholds overseas banking the takeover specialists said major trading houses which see their profits evaporating the heat increased competition merchandise trade all have foreign businesses their shopping lists among manufacturers car parts makers are under the most pressure buy overseas companies and follow the big auto makers they subcontract for these move offshore the timing favourable for japanese parties buy potential overseas businesses especially the japan largest market and where political risks are minimal takeover specialist one trading company said japanese companies have become among the world richest after series boom export years and the yen has climbed against the dollar some pct the past months but the yen strength which has also raised the costs japan exports and allowed its asian neighbours move into its traditional markets has frozen japanese corporate growth the specialists said looming trade friction also threatening erect more barriers against japanese exports japanese firms see overseas acquisitions way avoid the gloomy growth outlook and put their excess cash work domestic interest rates now record lows offer little investment opportunity japanese interest acquisitions has been continuous but the recent economic factors have become driving force said banking industry source far though the japanese are being cautious while mergers and acquisitions among firms number the thousands japanese buyouts overseas companies have totalled just few dozen one merchant banker said another merchant banker said that flurry japanese acquisition activity was originally expected five years from now but that time span appeared now too long japanese firms are becoming more aggressive now said turning point seemed dainippon ink and chemicals inc diac takeover bid for sun chemical corp the last year which some analysts saw somewhat hostile added dainippon ink bought sun chemical graphic arts group for mln dlrs late last year after earlier unsolicited bid for the whole company sun chemical refused sell its entire business after learning that dainippon planned liquidate all but its graphic arts related businesses hostile takeovers are considered unethical and frowned upon the japanese the trading company official says japanese people don like fighting they prefer peaceful amicable deals but now after some experience overseas japanese companies are acquainted with local practice adds this healthy progression however the experts not expect the japanese run the board meetings any giant european concerns japanese companies are not fully confident managing large european corporation one banker said they will expand their operations only gradually typical way for japanese business foreign merchant banker also noted there are not many mega deals left the united states lot the big deals there have already been done but medium size and small concerns are potential targets japanese companies the specialists said japanese will aiming for new businesses high technology areas japanese companies had used technology and quality get where they are and are unlikely deviate from that trend one takeover specialist said many are watching the results the first acquisitions these succeed activity could build the specialists said but few such specialists are going sit back and wait until the action begins already they said japanese trading houses long term credit and commercial banks brokerages and foreign merchant banks have set research sections act betweens deals find good buys for themselves reuter 
earn	united biscuits pretax profit mln stg mln wks jan 
crude	kuwait says opec member violating output quota kuwaiti oil minister sheikh ali khalifa sabah said newspaper interview that opec member was exceeding oil production quotas allocated the nation group sheikh ali told kuwait daily anba all opec states without exception are producing within the quotas allocated them some them are producing less some oil industry sources had said the united arab emirates which had been generally been producing over its quota since opec returned quotas last september was still pumping more than its allotted amount the first months this year ecuador had also publicly stated was over its quota but earthquake early this month stopped that iraq has rejected its quota but oil sources say may having problems marketing official prices all the oil wants sell opec agreed december cut overall oil production pct mln barrels per day bpd for the first six months this year and abide fixed prices around dlrs barrel from february reuter 
earn	united biscuits ubis weeks january shr div making turnover billion stg billion pretax profit mln mln tax mln mln trading profit mln mln trading profit includes foods europe mln mln restaurants mln same foods mln mln other mln mln unallocated costs mln mln interest mln mln note full name company united biscuits holdings plc minority interests mln same extraordinary charges mln mln extraordinary charges and credits include surplus bid for imperial group plc mln nil costs philadelphia bakery closure nil mln reuter 
interest	lawson expects interest rate fall soon chancellor the exchequer nigel lawson said expected british interest rates fall soon response his fiscal budget but did not say how much would very surprised there not very early further fall interest rates lawson said radio interview analysts said they foresaw base rates falling early today much one full percentage point after lawson announcement yesterday that the public sector borrowing requirement fiscal and was fall pct gdp some four billion stg british banks base lending rates fell half percentage point march the current pct reuter 
interest	thai banks weigh new interest rate cut officials five thai commercial banks are expected meet tomorrow seek agreement cutting interest rates banking sources said they said they expect thai banks opt for cut spur domestic loan demand help reduce persistent high liquidity the money market many bankers have been urging average half percentage point cut deposit rates and one point cut lending rates they said six major thai major banks reduced minimum loan and overdraft rates percentage point february but the move has not substantially increased loan demand the sources said excess liquidity has been hitting bank profits since early last year despite five interest rate cuts the current gross pct interest rate for one year fixed bank deposit and the pct minimum loan rate are the lowest decade bankers said the thai banking system saddled with about billion baht surplus funds which have created problems for many banks managing their money effectively profits many thai banks fell sharply last year partly because mismatch loan demand and bank deposit growth the bank thailand estimated overall lending the thai banking system grew pct against pct expansion bank deposits reports possible new round interest rate cuts have further buoyed the thai stock market this week the securities exchange thailand set index monday recorded its biggest daily advance recent years shooting points new seven year high brokers and market analysts said thai stocks will register more gains long liquidity remains the money market thai and foreign bankers said the liquidity problem will grow the bank thailand does not extend permission for local banks hold foreign exchange positions pct bank capital the regulation not extended beyond its april expiry date many commercial banks will have reduce foreign exchange holdings maximum pct bankers said such that could add another five billion baht surplus funds the local money market reuter 
earn	cathay pacific forecasts good performance cathay pacific airways ltd caph forecast another good year view good growth both passenger and cargo traffic volumes early this year over the year earlier period the airline did not quantify its performance early but said would take delivery one boeing freighter and one boeing passenger plane september and november respectively after took last month earlier reported pct increase net profit billion dlrs and announced final dividend cents share but cathay pacific recorded sharp increases net finance charges mln dlrs from mln year spokesman for the firm linked the rise two aircraft deliveries however the company said statement good returns from funds placed with investment managers had partly offset higher interest costs resulting from additional lease financing and other borrowing added that the airline last year also saw aviation fuel prices fall average dlrs gallon from dlrs passengers carried cathay pacific totalled mln last year from with the passengers kilometre travelled rising billion from billion but passenger load factor was down pct from pct the airline cargo operations recorded growth pct total tonnage over the previous year and pct rise revenue billion dlrs cathay pacific floated its shares april and now pct owned swire pacific ltd swpc pct hongkong and shanghai banking corp hkbh and pct china international trust and investment corp reuter 
earn	morgan grenfell pretax profit mln stg mln 
earn	morgan grenfell group plc year shr basic shr fully diluted div making pretax profit mln stg mln tax mln mln minority interest debit credit extraordinary items credit debit reuter 
earn	henderson land development ltd hndh six months dec shr cents interim div seven cents five net mln dlrs mln turnover mln dlrs mln note dividend payable may books close april reuter 
acq	singapore government takes over goodwood shares the singapore government has taken over mln dlrs worth goodwood park hotel ltd shares and loan stock certificates belonging the company chairman khoo teck puat banking sources said khoo major shareholder the national bank brunei bhd nbb which closed november after the brunei authorities alleged pct its loans billion brunei dlrs had been extended khoo related firms without documentation guarantee the goodwood securities are now held the commercial affairs investigation department the banking sources said the department declined comment the government move aimed protecting goodwood minority shareholders and securing goodwood deposits the nbb the banking sources said goodwood had total mln dlrs fixed deposits bank balances and accrued interest due from nbb last november according goodwood annual report reuter 
interest	bank england signals half point cut short term rates dealers 
interest	bank england said invited borrowings pct later today 
interest	barclays bank said its cutting base lending rate pct pct from pct 
interest	national westminster bank said cutting base rate pct from pct 
acq	toyota motors signs purchase agreement with pnb the state owned philippine national bank pnb will fund toyota motor corp toyo planned purchase its bankrupt former local partner manufacturing facilities for least mln pesos bank official told reporters toyota has informed the philippine government plans produce cars again here joint venture with local partner proposes invest about mln pesos the manufacture car spare parts and other items and generate about mln pesos export earnings over five years the banker said today letter intent was signed three weeks ago but the sale requires approval from government agencies charged with selling private sector assets taken over state owned banks official sources said toyota application was likely approved toyota severed ties with its philippine partner years delta motor corp because the local company was suffering financial difficulties pnb later foreclosed delta assets reuter 
interest	bank england invites borrowing pct the bank england said had invited those discount houses wishing use borrowing facilities gmt today rate pct for days this compares with the bank present band one dealing rate pct the bank england announcement was quickly followed barclays bank and national westminster bank which announced half point cut their base rates pct from pct dealers said the lowering base rates had been widely expected following yesterday budget which chancellor the exchequer nigel lawson announced three billion stg cut the government public sector borrowing target for four billion stg many the market had expected full one point cut base rates today but some were not surprised the authorities caution dealers added reuter 
earn	holzstoff ghoz year net profit mln swiss francs mln turnover mln mln cash flow mln mln proposed dividend francs same note company plans one for two rights issue participation certificates nominal francs conditions not yet set reuter 
acq	veba share placement still expected this month the sale the government pct stake veba vebg still expected this month banking sources closely linked with the transaction said spokesman for the finance ministry said exact date had yet been set for the privatisation which the government has tabled for the second half march however added scandal volkswagen vowg over currency losses has nothing with the timing the veba sale finance minister gerhard stoltenberg has said the sale the federal government stake originally scheduled for later this year may delayed because the currency affair banker involved the veba placement said nothing has changed the planning still presume that will take place the second half march this banker said there would reason postpone the issue the mln veba shares for few days added that the consortium which arranging the deal had completed its preparatory work although the price had not been decided the veba share has been weaker ahead the placement but west german stocks have been generally bearish and news the scandal last week put further pressure the market reuter 
earn	sony foresees continued slump earnings sony corp sne group net income expected down pct for the five months ending march from the same period year ago around billion yen the yen dollar rate remains the present level managing director tsunao hashimoto told press conference sony will have irregular five month business term ending march its financial year will changed run from april march from the current october year end group sales the same period are estimated about billion yen down five pct from year earlier said the company earlier reported net income billion yen the three month period ended january down pct from year earlier sales billion down pct the gloomy profits and sales resulted from the yen recent appreciation against the dollar and sharp drop market prices due severe sales competition home and abroad the yen rose pct average yen the dollar reducing the company total sales the three month period billion yen hashimoto said sales video camera recorders totalled units the three months unchanged from year earlier while beta format video tape recorders vtrs sales fell from sales compact disc players rose from and those the walkman rose mln from mln but colour television sales fell from one mln due lower exports china sales vtrs had already exceeded beta format vtrs sales since the beginning fiscal hashimoto said overseas sales accounted for pct the total the three months compared with pct year earlier overseas production will account for pct its total production from the present pct hashimoto also said parent current profit the five month period estimated around billion yen down pct from year earlier sales billion down pct sony hoping retain least levels group net profits and sales the new financial year starting april added the company made billion yen group net profit the year ended november down pct from year earlier sales billion down pct reuter 
acq	klm denies press report air atlanta takeover klm royal dutch airlines klm absolutely not negotiating takeover regional carrier air atlanta klm spokeswoman said comment article the leading dutch evening paper nrc handelsblad law requires that least pct shares airline owned american firms persons the spokeswoman added the newspaper said that air atlanta which flies cities has fleet five boeing jets with passenger capacity and employs people making losses she said klm had started talks with vendex international venn their jointly owned courier service express parcel systems but declined confirm nrc handelsblad report saying wanted buy the vendex stake klm said last week negotiating minority stake british courier service iml air services group ltd subsidiary british and commonwealth shipping plc bcom strengthen its position the fast growing worldwide door door delivery market the klm spokeswoman said she expected further announcements about the talks with vendex made early next week reuter 
interest	lawson says favours gradual approach cuts interest rates 
acq	dixons has pct cyclops corp dixons group plc dxns said its tender offer for all the common shares cyclops corp the expired midnight yesterday and that had accepted approximately mln shares the company dlrs each this represents just over pct the outstanding shares fully diluted basis but including shares already owned dixons now holds total pct the fully diluted outstanding shares the company said now entitled subscribe for all the authorised but unissued and unreserved shares common stock cyclops which total some mln shares dlrs each dixons said has waived its condition that pct the fully diluted outstanding shares validly tendered and not withdrawn dixons launched the agreed mln dlr offer february this year the wake its unsuccessful battle take over the retail store chain woolworth holdings plc wluk dixons shares were last quoted last night close friday cyacq corp investor group formed audio video affiliates inc ava and citicorp cci said would increase the price was offering for all cyclops shares dlrs from dlrs each cyclops would provide with confidential information given dixons and were satisfied that any rights dixon might have recover fees expenses from dixons buy cyclops stock would rescinded proved invalid audio video offer scheduled expire march reuter 
acq	afg afg wagner brown bid for gencorp general partners controlled privately held wagner and brown and afg industries inc said has started tender offer for all common shares gencorp inc and associated defensive preferred share purchase rights for dlrs share gencorp stock closed yesterday composite tape trading dlrs share two dlrs the day newspaper advertisement general partners said the offer and withdrawal rights expire april unless extended general partners said the offer conditioned receipt sufficient financing buy all shares fully diluted basis and receipt enough shares give general partners least pct voting power again fully diluted said the offer also conditioned gencorp redeeming the defensive rights general partners being satisfied that the rights have been invalidated and general partners obtaining from the federal communications commission special temporary authorization allowing completion the acquisition gencorp shares general partners said would set voting trust arrangements pending review its long form application for fcc approval its acquisition control gencorp broadcasting subsidiary the partnership said the offer further conditioned gencorp management withdrawing its proposals amend the company articles incorporation and code regulations provide for increase authorized common shares classified board directors and the elimination cumulative voting the latter two changes would make harder for minority shareholders elect directors general partners said asking gencorp for its shareholder lists for help disseminating the offer gencorp has about mln shares outstanding making the value the offer about billion dlrs last fall afg and wagner and brown offered acquire lear siegler inc for about billion dlrs but withdrew the offer when higher bids emerged and due complications the tax reform act lear siegler eventually went private for billion dlrs gencorp involved tire and plasticmaking and aerospace well broadcasting the company faces challenges its two television and radio station licenses partly becuase failed inform the fcc about allegedly improper foreign payments and political contributions gencorp has agreed sell its new york area television station wor mca inc mca for mln dlrs and its los angeles station khj walt disney dis for mln dlrs investor group challenging the los angeles license would also receive mln dlrs from disney for the year ended november gencorp earned mln dlrs sales billion dlrs gencorp spokesman said the offer came surprise and the company was not yet position comment the bid reuter 
crude	texaco cease posting texas oil price texaco refining and marketing operating subsidiary texaco inc said would cease post crude oil prices for west texas crudes the end this month following decision discontinue purchase crude oil from leases texaco spokesman houston said but will continue purchase quantities and foreign crude oil for use its refinery system added the spokesman also said texaco trading and transport inc would continue acquire and market texaco lease production well other lease production the company will continue post louisiana price said reuter 
earn	matrix science mtrx sets stock split matrix science corp said its board declared two for one stock split and six cent per share pre stock split dividend payable may stockholders record april the company said the dividend addition the ten cts per share dividend paid january making the post stock split annual dividend eight cts per share reuter 
earn	sea galley stores inc seag qtr dec loss shr loss cts loss dlrs net loss loss revs mln mln year shr loss dlrs loss cts net loss loss revs mln mln reuter 
acq	far west financial fwfp buy progressive far west financial corp said its far west savings and loan association unit has reached agreement principle acquire all the outstanding stock progressive savings and loan association prsl far west said does not expect the cost the transaction exceed mln dlrs progressive savings has ten branches southern california and about mln dlrs assets reuter 
acq	japan telecom merger could involve firms cable and wireless plc cawl and the pacific telesis group pac may take part proposed merger two rival firms seeking enter japan international telecommunications market senior industry official said fumio watanabe head telecommunications committee with the federation economic organisations keidanren told news conference japanese shareholders the two consortiums agreed that the and british companies will invited participate the new merged firm the planned linkup will satisfy tokyo request that only one private company should enter the market the two consortiums international digital communications planning inc idc and international telecom japan itj were set compete with monopoly kokusai denshin denwa kdd after the market was deregulated watanabe said the post and telecommunications ministry wanted only one competitor for the time being because the size the japanese telcommunications market and that foreign investors will only allowed hold minority stake estimated the two foreign firms share the merged consortium less than three pct and added that even the largest shareholders could own only some five pct cable and wireless and japanese trading house itoh and each have pct stake the idc consortium while pacific telesis and merrill lynch and inc mer jointly hold pct itj headed rival group trading houses several firms including toyota motor corp toyo belong both watanabe said progress was being made towards merger agreement and added that japanese industry agreed with the government having only one private consortium two companies might invest excessive amounts said talks with cable wireless will continue this week reuter 
acq	ferruzzi negotiating european acquisition italy gruppo ferruzzi the advanced stages negotiations that could result acquisition worth some hundreds billions lire the european agro industrial sector company spokesman told reuters the spokesman declined identify the other party parties involved talks whether complete takeover was under discussion but said italian newspaper report that ferruzzi was studying the possibility advancing offer for european cereal processing plants owned the group cpc international inc cpc was incorrect the spokesman said that possibility had been evaluated ferruzzi but that the company attention the moment was decisively another direction the spokesman responding report the italian economic daily sole ore that ferruzzi was considering possible bid for the cpc plants told reuters his company hoped conclude the talks currently underway couple months the spokesman said that since the government last month blocked ferruzzi bid acquire british sugar plc the company had been looking other investment opportunities reuter 
crude	malaysia cut oil output further traders say malaysia state oil company petronas will cut oil production barrels per day bpd from may trade sources said malaysia cut its bpd target output pct last september support opec moves boost prices and the latest cut would reduce output pct from target level petronas said february that malaysia would maintain its pct production cutback until mid however the finance ministry said its annual report that malaysia crude oil output was expected rise average bpd the ministry forecast assumed average crude prices dlrs barrel bbl but prices have risen enough permit further production cutbacks the sources said malaysia benchmark tapis blend fetched above dlrs bbl this year against low dlrs bbl july they said traders said further reductions malaysia would add the tight spot availabilities asian grades caused reduced indonesian and chinese crude output the cutback will also help malaysia maintain prices there concern some buyers want reduce term purchases due the availability cheaper alternatives the sources said addition term sales petronas has been offering two three bbl spot cargoes malaysian crude each month for sale through tender the sources said however this practice likely dwindle given the reduced scale production they said 
acq	intercare care says acquisition terminated intercare inc said has agreed terminate the proposed acquisition universal care because first jersey securities has withdrawn underwriter for proposed offering intercare securities the company said the offering was have raised dlrs for working capital through the sale equity and debt and would have also financed the dlr cash portion the universal care purchase price addition dlrs would have been used repay debt intercare said date has incurred about dlrs expenses connection with the proposed offering the company said improve its working capital position plans reduce operating expenses decreasing hours operation and its workforce and selling some assets october the copmpany said had working capital deficit dlrs pro forma basis include recently acquired medical enterprises inc reuter 
earn	rank organisation current trading satisfactory rank organisation plc rank said trading the current year had continued satisfactorily taking into account seasonal fluctuations association companies such rank xerox ltd indicated improved performance statement issued the annual meeting said said planned spend some mln stg refurbishing its odeon cinema chain and the rank film distributors unit was committed spending mln secure international distribution rights films investment new activities should continue relatively high level exploit opportunities for growth rank said did not exclude the possibility making large well small acquisitions the year end october rank reported rise pretax profits mln stg from mln previously rank shares firmed morning trading quoted gmt after last night close reuter 
acq	harcourt brace sets march deadline harper and row bid 
ship	ships held calcutta some indian ships have been held calcutta port after four days industrial action local seamen spokesman for the shipowners association insa said the dispute has prevented local crewmen signing and off but has not affected foreign ships with international crews docking calcutta which exports tea and jute and imports machinery crude oil and petroleum products the spokesman said foreign ships may also suffer dock workers join the action said the shipping corporation india sci has asked its ships avoid the port until the dispute over national union seafarers india president leo barnes said reuter 
earn	coopervision inc eye qtr jan net shr dlrs cts net mln sales mln mln avg shrs mln mln note current year net includes pretax gain mln dlrs sale ophthalmic business and loss mln dlrs posttax from repurchase debt prior year net includes dlr loss from discontinued operations reuter 
earn	coopervision eye delays annual meeting coopervision inc said has delayed its annual meeting june from may allow its board review possible recapitalization options before the meeting coopervision today reported first quarter net income mln dlrs after mln dlr pretax gain from the sale its ophthalmic business johnson and johnson jnj for mln dlrs cash and mln dlr posttax charge from debt repurchase sales were mln dlrs year earlier earned dlrs after dlr loss from discontinued operations sales mln dlrs the company said aggressive program investment spending maintain increase market shares its its two core businesses will accelerate sales growth this year but hold back increases operating income the near future coopervision said furthermore until the entire net cash proceeds from the recent sales several our businesses are employed reduce indebtedness make strategic acquisitions and are otherwise employed relation possible recapitalization the company recovery net income will held back the loss particularly the tax income the ophthalmic pharmaceutical business sold johnson and johnson reuter 
earn	great atlantic and pacific tea qtr oper shr cts cts 
acq	mobex says about pct grant gtx tendered mobex corp said grant industries inc common shares about pct the mln outstanding have been tendered response mobex offer the company said its offer dlrs share for the stock has been extended est march from march reuter 
acq	harcourt brace hbj sets harper hpr deadline harcourt brace jovanovich inc said has told harper and row publishers inc representatives that intends withdraw its proposal acquire harper and row for dlrs per share cash the parties have not made satisfactory progress discussions the close business march harcourt brace said not wish put undue pressure harper and row but also fairness our own shareholders cannot allow offer such magnitude lie the table too long harcourt said three its senior officers and its investment bankers met yesterday with investment bankers for harper and row discuss the harcourt brace offer harcourt brace said will only pursue the acquisition mutually satisfactory merger agreement can negotiated last week group formed theodore cross offered acquire harper and row for dlrs per share the group held about six pct harper and row addition new world pictures ltd nwp holder pct harper and row had offered discuss merger with harper and row reuter 
acq	dixons group said accepts pct cyclops shares tender 
money-fx	bankers trust issuing stg dlr currency warrants bankers trust international ltd said issuing stg call dlr put currency warrants initial offer price dlrs per warrant the issue guaranteed bankers trust new york corp each warrant entitles the holder exchange dlrs for stg rate stg dlr and the minimum number warrants exercisable tradeable exercise period for the warrants will run from april until march payment due april reuter 
earn	great atlantic and pacific tea gap qtr oper shr cts cts oper net mln mln sales billion billion avg shrs mln mln year oper shr dlrs dlrs oper net mln mln sales billion billion avg shrs mln mln notes results for and week periods ended feb and and week periods ended feb operating net excludes credits from tax loss carryforwards none mln dlrs cts share quarter and mln dlrs cts share mln dlrs cts share year company had stores inoperation year end year earlier reuter 
acq	group tendering for gencorp says holds about pct gencorp common 
trade	rotterdam signs cooperation agreement with tokyo the city rotterdam today signed agreement principle cooperate with the aomi cargo distribution centre tokyo acting mayor roel den dunnen said that cooperation between private and public entities the tokyo and rotterdam area and fruitful exchange information have favourable influence the flow goods and services between the two countries the aomi cargo distribution center which will start operating october this year signed similar agreement with rotterdam twinned port seattle last september reuter 
interest	west german banks slowly cutting key savings rates west german commercial banks are cautiously cutting key savings and lending rates banking sources said the cuts follow nearly two months after the bundesbank reduced leading interest rates far longer than the usual interim period deutsche bank dbkg spokesman said cutting leading savings rate for private customers regional basis percentage points two pct dresdner bank drsd and commerzbank cbkg have initiated similar moves bank fuer gemeinwirtschaft bkfg cut rates pct generally the delay was partly due commercial banks desire gauge customer reaction similar move regional savings banks fall customer savings because lower rates could reduce cheap refinancing available banks forcing them draw down relatively expensive funds from other sources one economist the german banking association said but the volume savings funds may not substantially undercut lower savings rates because many customers are parking funds savings accounts the hope they can reinvest them higher yields the future said said this may conflict with bundesbank aims move more funds from relatively short term deposits longer dated securities reduce strong growth its central bank money supply aggregate the aggregate showed annualized growth provisional pct february against the fourth quarter last year unchanged from january the growth rate was outside the expanded target range three six pct few banks have far reduced lending rates private customers though lending rates for corporate customers are beginning decline reuter 
earn	toys inc toy qtr feb one net shr cts cts net mln mln revs billion mln mths shr dlrs cts net mln mln revs billion billion note net were restated reflect three for two stock split june reuter 
earn	measurex corp qtr net shr cts cts qtrly div six cts cts prior net revs mln mln avg shrs mln mln note pay for dividend was march shareholders record feb reuter 
earn	palmer lewis inc lwis qtr net qtr ends jan shr three cts one cent qtrly div seven cts seven cts prior net revs mln mln mths shr cts cts net revs mln mln note effective july one the company acquired the outstanding stock western american forest product inc for cash and convertible debentures the acqustion accounted for purchase and consolidated statements include western results operations from july one payout for dividend may six stockholders record april reuter 
earn	capital cities abc ccb sets payout qtrly div five cts five cts pay april record march 
earn	publicker industries inc pul qtr loss shr loss five cts loss cts net loss loss sales avg shrs mln mln year shr loss four cts loss cts net loss loss sales mln mln avg shrs mln mln reuter 
earn	federal express corp qtr oper shr cts cts 
earn	bell atlantic corp bel increases payout qtrly div cts cts pay may one record march reuter 
earn	rhodes rhds sees sharply lower qtr net rhodes inc said now estimates fourth quarter ended february earnings were eight cts share down from the cts earned the final quarter fiscal the company said the major causes for the reduction were unfavorable lifo adjustment and softer than projected sales the quarter due primarily unfavorable weather despite the qtr results rhodes said net income for the year just ended should come close the record level the previous year dlrs dlrs share reuter 
acq	gencorp group holds pct stake general partners texas general partnership equally owned affiliates wagner and brown and afg industries inc afg said currently holds common shares about pct gencorp inc outstanding common stock general partners said began dlrs share cash tender offer for all gencorp akron ohio based concern that worth nearly billion dlrs gencorp which has interests tire and plastic making aerospace and broadcasting has about mln shares outstanding the general partners offer subject receipt financing majority gencorp shares and other conditions letter gencorp chairman and chief executive william reynolds describing the offer general partners said was willing negotiate terms the offer and was prepared meet soon possible statement general partners said has contributed mln dlrs equity financing and also has commitments for one billion dlr credit line from wells fargo and wfc and billion loan from shearson lehman brothers holdings inc unit american express axp gencorp spokesman said the company management was meeting but that its board was not scheduled meet today said was not sure the company had formally received notice the offer but was aware through press accounts declined say what gencorp next move might whether would issue statement later today the letter general partners said plans maintain gencorp corporate headquarters akron and retain the company plastics and industrial products businesses and its tires and related products segment the letter did not mention gencorp rko general broadcasting subsidiary which has been involved disputes over license renewals several its television stations gencorp has agreed sell two its independent stations wor the new york area and khj los angeles general partners officials were not immediately available gencorp shares were delayed the opening the new york stock exchange because imbalance orders and the nyse said the shares were indicated open the shares closed two yesterday new week high the financing for the offer includes the mln dlrs equity from general partners the billion dlr loan from shearson lehman brothers senior subordinated bridge loan for which binding agreement can delivered within hours after request from the partnership and the one billion dlr credit line from wells fargo wells fargo has agreed lend mln dlrs the line itself and form syndicate banks provide the rest the partnership said shearson lehman brothers inc will act dealer manager the tender offer said the letter the partnership said was confident could obtain the financing and close the transaction promptly last fall afg and privately held wagner and brown offered acquired lear siegler inc for about billion dlrs but withdrew the offer when higher bids emerged lear siegler eventually went private for about billion dlrs reuter 
earn	and gap sets higher capital spending the great atlantic and pacific tea said its three year mln dlr capital program will substantially increased accommodate growth and expansion plans for waldbaum inc and shopwell inc over the next two years and said the acquisition shopwell august and waldbaum december helped achieve better than expected results the fourth quarter ended february its net income from continuing operations jumped pct mln dlrs cts share the latest quarter sales increased pct billion dlrs and gave details the expanded capital program but did say completed the first year the program during and pct owned tengelmann warenhandelsgesellschaft west germany reuter 
earn	federal express corp fdx qtr feb net oper shr cts cts oper net mln mln revs mln mln avg shrs mln mln nine mths oper shr dlrs dlrs oper net mln mln revs billion billion avg shrs mln mln note net excludes losses from discontinued operations nil mln dlrs quarter and mln dlrs mln dlrs nine mths quarter net includes gains from sale aircraft two mln dlrs dlrs reuter 
earn	morgan grenfell says profits hit guinness morgan grenfell group plc said its pre tax profits were lower than forecast because depreciation the value its guinness plc guin shares and because securities trading losses the morgan chairman lord catto said the losses the group seven mln guinness shares addition mln dlr loss its risk arbitrage operation new york depressed profits some eight mln stg mln also told news conference morgan had received informal approaches about takeover the group but was not interested formal offers had been made but catto would not elaborate morgan grenfell acted merchant banker guinness during the brewing company successful bid for distillers plc dist the first half last year the government launched investigation into the affairs guinness last december public concern has focused the way guinness may have breached company law and the takeover code prompting others support its share price during the bid morgan chief executive christopher reeves head corporate finance graham walsh and senior corporate finance director roger seelig all resigned january over the guinness affair another senior morgan grenfell executive geoffrey collier resigned late last year allegations trading insider information currently faces criminal charges lord catto said the second half had been one the most traumatic our history but that clients and staff had been supportive certainly look the future positive way have the worst behind and have swept nothing under the carpet profits for the year pct from pre tax profits mln stg were mainly due high contribution from corporate finance activities and progress asset management finance director david ewart told the news conference the performance the group far was within reasonable touch the budget lord catto also said the group was actively seeking new chief executive replace sir peter carey who acting interim director after reeves resignation and hopes have new chief executive within few months also said reeves and walsh had been paid total stg compensation following their resignations but declined say how much each man got negotiations were going determine amount compensation for seelig said morgan grenfell shares stood late down yesterday reuter 
acq	sec moves discipline allegheny int the securities and exchange commission sec staff seeking authority take enforcement action against allegheny international inc the pittsburgh based industrial and consumer products firm said allegheny made the disclosure documents filed with the sec connection with its recent agreement taken private through leveraged buyout led first boston inc following announcement the merger agreement the company was informed the enforcement division the sec that intends seek authority from the commission institute proceeding against the company allegheny said the company cooperating the commission investigation which continuing and now includes the taking testimony employes and others allegheny said the ongoing probe allegheny said the staff has asked for information about company executive compensation and benefit plans certain company owned real estate travel and entertainment spending and the use corporate aircraft also has asked for information acquisitions and divestitures the company accounting system and other internal controls allegheny said the probe began february allegheny said the sec matter policy routinely declines comment its enforcement actions the sec investigation began just months before allegheny became the target series shareholder lawsuits claiming that the company had violated the federal securities laws failing disclose material matters recent annual proxy statements the suits later consolidated into single class action complaint before pennsylvania federal court allege securities law violations involving numerous current and former allegheny officers and directors earlier this month lawyers for the shareholders asked the court expand the charges include allegation that the buyout allegheny had attempted illegally freeze out its public shareholders unfair price allegheny said intends vigorously defend itself against all charges the charges made the shareholder suits are widely believed have led last summer resignation chairman and chief executive officer robert buckley the buyout group led first boston tendered march for all outstanding allegheny shares dlrs share reuter 
earn	united asset management corp uam ups payout qtly div four cts three cts prior pay april record march reuter 
earn	kinder care inc kndr first qtr net qtr ends dec shr one cent cts net revs mln mln note the company changed its fiscal year end from aug dec qtr prior ended jan and included two more weeks than current qtr current qtr includes loss for accounting change reuter 
earn	ultrasystems inc uls qtr jan net shr cts ctsd net revs mln mln year shr cts cts net revs mln mln avg shrs note latest year net includes writeoff investment dawn enterprises ethanol refinery cts shr reuter 
acq	canamax acquire krezmar gold property stake canamax resources inc said agreed acquire the pct interest does not already own the krezmar gold property near wawa ontario paying nine mln dlrs algoma steel corp ltd and granting algoma four pct net smelter return royalty which payable after payback the property drill indicated reserves depth feet are estimated over one mln tons averaging ounces gold ton canamax said reuter 
earn	nfs financial nfsf sets initial dividend nfs financial corp said its board declared initial dividend five cts per share payable april holders record march reuter 
earn	audi says profit fell around pct audi nsug the pct owned subsidiary volkswagen vowg said profit fell around half compared with when achieved record mln marks net profit rise pct the previous year managing board chairman wolfgang habbel told news conference expected both profit and turnover rise this year compared with but said was questionable whether profit would return levels gave figure for profit audi had predicted last year that profit would likely fall unspecified amount from record levels habbel said turnover rose billion marks from billion and looked certain rise over billion this year asked whether audi would pay dividend help the parent company overcome its currency losses habbel said audi would ensure got share profits audi entire net profit was paid into its own free reserves help finance investment the previous years had received pct audi earnings dividend habbel blamed the profit decline disruptions output caused the introduction the new audi model currency factors and negative publicity the about alleged sudden acceleration some its audi models reported audi sales the dropped nearly pct last year habbel said the sales decline would probably bottom out audi worldwide car deliveries fell two pct the total exports fell pct rounded but domestic sales increased rounded from habbel said the new audi had sold extremely well the first two months helping audi increase its overall market share west germany pct from pct the same months sales europe also rose but sales fell further said without giving details worldwide deliveries the first two months increased eight pct audi said january that car production would rise over from when output had fallen compared with habbel said audi expected the rise output lead further new hiring employees the end audi workforce stood record rise over reuter 
interest	bank england lends one billion stg pct the bank england said had lent one billion stg the discount market for fourteen days pct this brings the banks total help today some billion stg and satisfies the estimated shortage the system today which had earlier estimated billion stg the bank announcement this morning that was willing lend two week money pct was interpreted the market sanction for lower base lending rates the clearing banks swiftly took this cutting their base rates half point pct midday the central bank lowered its money market dealing rates the same amount reuter 
earn	sensormatic electronics corp snsr qtr net feb end shr profit cts loss cts net profit loss mln revs mln mln avg shrs mln mln nine mths shr profit cts loss cts net profit loss revs mln mln avg shrs mln mln note prior year net both periods after mln dlr writeoff reuter 
acq	anacomp aac acquires datagraphix anacomp inc said acquired the common stock datagraphix inc from general dynamics corp for about mln dlrs said the purchase will financed with combination new bank credit agreement and through private placement senior subordinated notes and convertible preferred stock datagraphix which had sales mln dlrs manufactures line computer output microfilm hardware and supplie anacomp sales for the year ended sept were mln dlrs reuter 
earn	winnebago industries inc wgo qtr net period ended february shr cts cts net sales mln mln six mths shr cts cts net sales mln mln note period ended march one reuter 
earn	penwest ltd penw qtr ends feb net shr cts cts net revs mln mln avg shrs six mths shr dlrs cts net revs mln mln avg shrs reuter 
earn	sierra spring water wtr qtr loss shr loss cts profit six cts net loss profit rev mln mln year shr loss seven cts profit cts net loss profit rev mln mln reuter 
acq	gelco gel sell canadian courier unit gelco corp said signed letter intent sell its canadian courier unit gelco express ltd air canada for about mln dlrs said consummation the transaction depends execution definitive agreement which expected may part its restructuring plan gelco had announced that would sell four business units gelco express ltd was one the companies scheduled for divestiture reuter 
acq	synthetech nzym ends southwest photo talks synthetech inc said discontinued negotiations acquiring southwest photo chem inc pomona calif the company cited irreconcilable differences the financial structure the deal said southwest photo proposed significant change terms outlined the letter intent signed last month reuter 
acq	ranco rni holders approve merger ranco inc said shareholders special meeting approved merger into siebe plc for dlrs per share reuter 
earn	american physicians service amph net shr profit five cts profit two cts net profit profit revs mths shr profit cts loss cts net profit loss revs mln mln note full name company american physicians service group inc reuter 
acq	air canada comment gelco gec unit report state owned air canada said will make statement est concerning published report that the airline has agreed acquire gelco corp canadian unit gelco express ltd air canada spokesman said the spokesman declined comment the toronto globe and mail report when queried the sale gelco express canada second largest courier service part the parent company strategy repay mln dlrs debt the end the report said quoting gelco spokesman the report did not disclose price for the sale gelco canadian unit reuter 
earn	philip crosby pcro sees lower qtr results philip crosby associates inc said expects its audited results for fourth quarter lower than its previously estimated cts per share philip crosby executive vice president said normal accounting adjustments well review the company international operations due previously reported alleged embezzlement resulted the lower results philip crosby reported fourth quarter results mln dlrs cts share prior august two for one stock split crosby said however expects the company report higher first quarter revenues than the first quarter revenues mln dlrs crosby said that tuition levels from the management consulting service company courses this month are the highest level the company history reuter 
earn	genzyme corp genz qtr net shr profit three cts loss cts net profit loss revs avg shrs year shr profit one loss cts net profit loss revs avg shrs note qtr and year net includes two mln dlr loss for litigation settlement and dlrs for write off goodwill reuter 
earn	information solutions inc isol qtr jan shr two cts six cts net revs reuter 
earn	fairchild industries fen sets regular payout qtrly div five cts five cts pay apirl record march reuter 
earn	alfa laval alfs year group profit after financial income and expenses mln crowns mln sales billion crowns billion profit per share after full taxes crowns crowns proposed dividend crowns crowns reuter 
earn	spectrum control inc spec sets quarterly qtly div cts cts prior pay april record april one reuter 
acq	iceland privatise state bank utvegsbanki the icelandic government said will privatise the state owned bank utvegsbanki the country second largest parliament also granted mln crown cash infusion ease cash flow problems that arose when the bank lost mln crowns shipping firm bankruptcy two years ago utvegsbanki director halldor gudbjarnarson told reuters the decision privatise the bank was relief and that foreign banks had already expressed interest taking share quarter the one billion crown total share capital will available foreign investors government officials said reuter 
earn	genovese drug stores inc spec sets quarterly qtly div five cts five cts prior pay april record april reuter 
earn	animed inc vets qtr jan loss shr loss six cts profit three cts net loss profit revs reuter 
earn	animed vets expects turn profitable animed inc said expects return profitability during the current year today reported loss for the first quarter ended january dlrs compared with dlr profit year before reuter 
earn	crown auto inc crni qtr dec loss shr loss cts loss cts net loss loss revs year shr loss cts profit cts net loss profit revs mln mln avg shrs note period ended december earnings include loss each period from discontinued operations dlrs reuter 
earn	union valley corp uvc qtr net shr cts cts net rev mln mln avg shares year shr cts one dlr net rev mln mln avg shares note includes extraordinary gain dlrs eight cts share reuter 
earn	general devices inc gdic year net shr profit cts loss cts net profit loss revs mln mln note net includes pretax gain dlrs from sale worldwide computer services inc subsidiary and dlr tax credit reuter 
earn	deutsche babcock increase dividend deutsche babcock dbcg will increase its dividend results the year ending september chief executive helmut wiehn said wiehn told news conference deutsche babcock would double the absolute amount distributes shareholders this overall increase would also due partly increase nominal share capital mln marks mln marks higher dividend had been anticipated because deutsche babcock has said the past that will only raise capital when can make lasting improvement the dividend reuter 
acq	exovir xovr sells stock for mln dlrs exovir inc said sold investor group led mark hammer shares company common stock and warrants purchase additional shares exovir said the transaction increases the group stake from pct pct the net proceeds the company total mln dlrs the company said the warrants are exerciseable over the next three years dlrs per share common stock according exovir reuter 
earn	brad ragan inc brd sets quarterly qtly div three cts three cts prior pay may record april reuter 
earn	bastian industries inc qtr jan loss net loss loss sales mln mln half net loss loss sales mln mln note company recently went private latest quarter net includes dlr tax credit current half net includes gain dlrs pretax from termination pension plan reuter 
earn	commercial national corp cncl cuts quarterly commercial national corp said cut its quarterly dividend cts per share from cts due current expectations for earnings the company said the dividend payable april holders record march reuter 
earn	timberland industries inc timb qtr net shr cts cts net sales mln mln year shr cts cts net sales mln mln reuter 
earn	municipal financial corp qtr jan net shr cts cts net revs mln mln assets mln mln reuter 
acq	peat marwick and nolan norton merge peat marwick accounting and management consulting firm and nolan norton and information and technology planning concern said they have merged the companies said with the merger nolan now will known nolan norton and partners the information technology arm peat marwick also part the merger nolan principals have become peat marwick partners the companies said reuter 
acq	trus joist tjco acquire canadian firm trus joist corp said agreed purchase dashwood industries ltd canadian wood window and patio door manufacturer for undisclosed amount cash trus joist said expects close the transaction before june reuter 
earn	kinder care kndr sees higher earnings kinder care inc projected its earnings mln dlrs richard grassgreen president the company said earnings per share are expected between cts and one dlr comparison cts earnings per share for the fiscal year ended august and cts for the trailing months ended november greengrass said this represents earnings per share increase approximately pct the company said changed its fiscal year end from august december reuter 
earn	robbins and myers inc robn qtr feb net shr profit cts loss dlrs net profit loss sales mln mln first half shr loss cts loss dlrs net loss loss sales mln mln avg shrs backlog mln mln reuter 
ship	economic spotlight japan shipbuilders recovery japan ailing shipbuilding industry plans refloat itself few years from the twin rocks recession and strong yen through capacity and workforce cuts and greater use computers industry sources told reuters the salvage measures which include government sponsored rationalisation program are aimed clawing back some the market which japan the world leader has lost south korea through currency and labour cost disadvantages they said the sources said south korea yards are now some pct more competitive than japan due such factors the government plans help the industry shed pct current capacity within two years through mergers and regrouping under legislation put before parliament this month and likely approved may june the sources said they said from september semi government body will assure repayment about billion yen liabilities incurred through job losses and the sale excess capacity and another billion for buying unneeded land and equipment last friday the shipbuilders association japan applied the fair trade commission form cartel slash tonnage built about half total capacity for year from april the commission has held several hearings with the industry and approval should given this month the sources said clampdown output over one two years combined with planned cost cutting and streamlining program and state support should help japanese yards recover their international competitiveness they said under the cartel proposals yards each capable building ships more than gross tonnes would build maximum three mln compensated gross registered tonnes cgrt this about half total capacity this will ease the cut throat competition which forced most yards sign orders below cost the sources said the industry likely seek renew the cartel for the transport ministry sees new orders falling mln cgrt from mln they said the rationalisation program includes cut the estimated workers the industry between and japanese yards topped world order books end december followed south korea and taiwan according lloyd register shipping however falling orders and declining international competitiveness due the strong yen led heavy losses the industry the sources said four japan six major heavy machinery and shipbuilding companies reported current deficits the first half the year march and five them are expected report current deficits for the whole they said the shipbuilding companies streamlining program will raise productivity compete with south korean yards which have also been hard hit declining orders and low ship prices recnt years the sources said japan single yard leads the industry resulting fierce competition and slow progress reducing capacity the two largest firms mitsubishi heavy industries ltd mith and ishikawajima harima heavy industries ltd jima account for only pct ships built the sources said world shipowners hope japanese yards can manage ride out the recession their technology the best the world said official major japanese shipping company the japanese merchant fleet the largest after liberia has intention shifting other countries buy ships and this will encourage japanese yards the sources said reuter 
earn	cont illinois says brazil moratorium could cut qtr net mln dlrs 
earn	cont illinois cil says moratorium may cut net continental illinois corp said the brazilian debt moratorium remains effect may place its medium and long term loans brazil cash basis this would increase non performing loans about mln dlrs and reduce income before taxes and net income about mln dlrs the first quarter and mln dlrs for the full year company officials told press briefing loans brazil year end totaled mln dlrs according the annual report released the briefing february the brazilian government citing declining level foreign currency reserves declared moratorium the payment interest the country medium and long term debt obligations continental said may take similar action its loans ecuador which total mln dlrs this would reduce pre tax and after tax net dlrs the first quarter and two mln dlrs for the full year the bank holding company officers said reuter 
earn	cypress savings association cypsa qtr loss shr loss dlrs loss dlrs net loss year shr loss dlrs loss dlrs net loss loss note net includes tax credits dlrs dlrs quarter and dlrs dlrs year reuter 
earn	zenith laboratories inc zen qtr loss shr loss cts profit cts net loss profit sales mln mln year shr loss cts profit cts net loss profit mln sales mln mln avg shrs mln mln note net includes tax credits dlrs quarter and dlrs year reuter 
earn	ceradyne inc crdn qtr loss shr loss cts profit cts net loss profit sales avg shrs year shr profit one profit cts net profit profit sales mln mln avg shrs reuter 
acq	chemclear inc cmcl terminates merger talks chemclear inc said terminated merger talks with environmental systems esc chemclear said was unable reach agreement with environmental which was considering buying chemclear chemclear said considering other options including other business combinations and financing through commercial lending and other financial institutions for internal expansion reuter 
earn	vista chemical sees year net higher vista chemical said expects earnings for the year ending september substantially but extensive planned downtime two its plants expected affect third quarter results said looking number financial options for increasing shareholder value but did not elaborate the company earned mln dlrs dlrs per share before extraordinary item fiscal vista said sales for the year are expected comparable fiscal mln dlrs reuter 
acq	camco signs letter intent for reed tool pearson plc pson said camco inc its pct owned oil and oil services subsidiary signed letter intent covering camco purchase from baker international corp bko substantially all the business reed tool reed leading manufacturer drilling bits had sales for around mln dlrs the transaction subject negotiation definitive agreement approved the baker and camco boards and the department justice with which talks are already taking place concerning the combination baker and hughes tool baker international has proposed merger with hughes tool which could create billion dlr oilfield services company pearson shares were down after the announcement reuter 
earn	first connecticut fco sets quarterly payout qtly div cts cts prior pay april record april three note first connecticut small business investment reuter 
earn	stone and webster inc sets quarterly qtly div cts cts prior pay may record april one reuter 
earn	credo petroleum corp cred qtr jan net shr profit one loss cts net profit loss revs note prior year net includes dlr writedown oil properites and dlr tax credit reuter 
earn	att sets payout for regular dividend qtrly div cts cts prior pay may one record march reuter 
money-fx	gulf arab states move towards economic integration finance and economy ministers the six nation gulf cooperation council gcc have ended talks after adopting resolutions and recommendations aimed boosting economic integration but the ministers from bahrain kuwait oman qatar saudi arabia and the united arab emirates uae did not endorse resolution common currency exchange rate system the uae minister state for finance and industry ahmed humaid tayer told reporters after the two day talks that the ministers referred the issue back gcc central bank governors for further discussion said the governors who agreed january proposed denominator which the six currencies should based were asked resubmit the recommendation before july when finance ministers were due meet saudi arabia bankers said the central bank governors would meet soon discuss the issue adding there was possibility that new system could submitted for final approval gcc summit conference scheduled held saudi arabia late this year the denominator approved the governors has not been made public but banking sources said could similar the european monetary system ems tayer said the ministers agreed principle allow gcc citizens set businesses and work any member state they also agreed principle recommendation for citizens buy and own shares gcc shareholding firms said the ministers discussed report imported goods containing radiation caused last year chernobyl nuclear disaster the soviet union and agreed all products with excessive levels should returned the country origin reuter 
earn	hartford steam hbol sets split dividend hike hartford steam boiler inspection and insurance said its board declared two for one stock split and raised the quarterly dividend cts postsplit from cts both payable april holders record april reuter 
crude	doe secretary favors higher spr fill rate energy secretary john herrington said believes the reagan administration will review its decision cut the fill rate the strategic petroleum reserve because department report issued yesterday warning growing dependence oil imports part this study think the administration will take the fill rate under review herrington said house energy subcommittee hearing the administration has proposed cutting the fill rate from barrels oil per day bpd fiscal year save money personal feeling that too low favor the maximum fill rate bpd herrington said reuter 
earn	cont illinois cil sees impact from tax reform the tax reform act will have substantial impact continental illinois corp the company annual report says one provision repeals the reserve method providing for bad debts for banks with over mln dlrs assets and requires that tax loan loss reserves taken the past restored current earnings status said result those amounts will subject federal taxes said amounts were disclosed continental said decided deal with this change its entirety tax reform will also change foreign tax credit limitation rules and although the impact will not material the short term the act will require for the first time that income from certain foreign subsidiaries taxable the report said the new legislation also reduces existing tax credits pct and pct and later years said continental investment tax credits carryforwards mln dlrs year end will reduced mln dlrs and not used mln dlrs said another provision the act could result limiting the use tax credits change ownership continental takes place the report said this could happen the federal deposit insurance corp sells enough shares continental common stock over the next two years cause change ownership noted december the fdic sold about one third its junior convertible preference stock continental the public the form common stock reuter 
earn	oesterreichische laenderbank olbv parent bank net profit mln schillings mln parent bank balance sheet total billion billion parent bank cash flow mln mln dividend pct pct nominal share capital billion billion cons banking balance sheet total billion billion reuter 
earn	industries inc qtr shr loss cts profit seven cts 
earn	fhlmc frepr qtr net net mln mln year shr preferred dlrs dlrs shr common dlrs dlrs net mln mln note federal home loan mortgage corp fhlmc had preferred shares outstanding owned about member institutions the federal home loan banks fhlmc also has shares common owned the home loan banks reuter 
earn	hre properties hre cuts quarterly hre properties said its board cut the quarterly dividend cts per share from cts payable april holders record march hre said the board reduced the dividend due the continuing impact overbuilding its office building markets and its inability replace the income from high yielding investments that have matured hre said the first quarter ended january earned cts per share down from cts year before reuter 
earn	horn and hardart hor qtr net shr dlrs two cts net mln revs mln mln avg shrs mln mln year shr loss dlrs loss cts net loss mln loss revs mln mln avg shrs mln mln note net both periods includes mln dlr gain from sale real estate year net includes charge mln dlrs from restructuring bojangles restaurant unit and charge dlrs from exchange notes for common stock year net includes charge dlrs related foodservice unit and gain dlrs from sale marketable securities reuter 
earn	industries inc qtr dec loss shr loss cts profit seven cts net loss mln profit sales mln mln year shr loss dlrs profit cts net loss mln profit mln sales mln mln note share after preferred dividends note july company set dividend series preferred effecting spin off its chemical operations they unit has been accounted for discontinued operation fourth quarter and full year reflect non recurring charges from change control company fourth quarter also reflects writeoff mln dlrs goodwill full year includes charge mln dlrs taken the second quarter for asset revaluation and restructuring costs fourth quarter reversion pension plan surplus assets completed fourth quarter and full year includes net income mln dlrs dlrs share company also gained mln dlrs four cts share fourth quarter and mln dlrs cts share full year from adoption accounting rule sfas fourth quarter company also adjusted carrying value non chemicals discontinued operations assets leading charge mln dlrs reuter 
earn	corrected university patents inc upt qtr qtr ends jan oper shr loss cts loss cts oper loss loss revs six mths oper shr loss cts loss cts oper loss loss revs note prior year excludes losses from discontinued operations cts per share the quarter and cts per share the year corrects march item show losses instead profits also corrects quarter loss from discontinued operations reuter 
earn	craftmatic contour crcc sees higher profits craftmatic contour industries inc said would report substantial profits for the first quarter fiscal ending march the company recorded net income dlrs cts per share revenues mln dlrs reuter 
crude	oil tax break proposal examined the white house said proposal for tax break for the oil industry would undergo review spokesman marlin fitzwater said president reagan had position recommendations submitted energy secretary john herrington encourage investment the hard hit domestic oil industry but fitzwater noted that reagan did have fundamental objection tax rises and special tax breaks said that even though herrington recommendation did not agree with existing policy take look the review will undertaken the president domestic policy council herrington proposal was reported the washington post have been made letter reagan submitting study that found the united states would importing half its oil the threatening national security reuter 
earn	western savings and loan wsl qtr loss shr loss cts profit cts net loss profit year shr profit dlrs profit dlrs net profit profit loans billion billion deposits billion billion assets billion billion note full name western savings and loan association reuter 
acq	air canada acquire calgary courier company air canada the state owned airline said signed letter intent acquire pct ems corp calgary based messenger service which operates western canada and the gelco corp gel earlier said air canada agreed buy its canadian gelco express ltd unit for mln dlrs air canada said the acquisitions will complement its main cargo business said expects the courier market grow about pct year reuter 
earn	may department stores raises dividend cts from cts share 
earn	hunt manufacturing hun qtr net ended march shr cts cts net revs mln mln avg shrs reuter 
earn	may department stores qtr shr dlrs dlrs 
earn	first american fiama sees gain from sale first american bank and trust said its pct owned associated mortgage investors amims subsidiary has sold its new england operations for about dlrs cash and dlrs stock resulting first quarter gain for first american about dlrs after tax the company said the sale will complete associated withdrawal from the general contracting business reuter 
acq	financial security fssla sell branch financial security savings and loan association said has agreed sell its sunrise fla branch fortune financial group inc forf clearwater fla for substantial profit subject regulatory approval terms were not disclosed reuter 
earn	golden enterprises inc gldc qtr feb net shr cts nine cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
earn	morrison knudsen mrn sees year net falling morrison knudsen corp said its earnings for are likely lower than those for due lower than expected growth engineering and construction and previously predicted decline earnings its national steel and shipbuilding unit the company earned mln dlrs including pretax gains mln dlrs from pension income and dlrs from the settlement vested pension obligations down from mln dlrs said lower than expected levels new work booked the last quarter and the first two plus months this year have delayed the expected growth the engineering and construction area the company said will remain profitable and results should strengthen the year progresses attributed the decline new work more stringent bidding standards and competitive market reuter 
earn	may department stores raises dividend qtly div cts cts previously pay june record june one reuter 
acq	gencorp names financial advisers gencorp inc plans use first boston corp and kidder peabody and financial advisers tender offer for the company general partners gencorp spokesman said the spokesman response questions from reuters said the company does not yet have comment the dlr per share tender offer launched the partners today first boston and kidder have been advisers gencorp the past said general partners comprised investors wagner and brown and afg industries inc glass manufacturer reuter 
earn	dcny corp dcy hikes qtly dividend discount corp new york said its board directors increased its quarterly cash dividend cts share from cts share dcny said the dividend payable april shareholders record april since the last two for one stock split may the corpoartion has customarily declared cnt per share dividends for the first three quarters and final fourth quarter dividend based its total earnings for the year previously announced dcny said its board has also recommended two for one common stock split shareholders the split approved the may annual meeting the quarterly dividend rate will adjusted cts share dcny said reuter 
earn	joseph light saj sets split hikes payout joseph light and power corp said its board declared three for two stock split and raised the quarterly dividend presplit shares cts per share from cts the company said the dividend payable may holders record may and the split subject approval shareholders the may annual meeting reuter 
acq	bevis industries seeks buyer for company bevis industries inc said retained tucker anthony and day inc seek purchasers the company its units issued further details the company which makes stainless steel tubing for the chemical petrochemical and oil industries earned dlrs cts share the nine months ending september had sales mln dlrs the period reuter 
acq	house plan seeks bar foreign takeovers house subcommittee voted give president reagan authority block foreign takeovers companies similar the takeover schlumberger ltd slb fairchild semiconductor corp fujitsu ltd which was withdrawn the house energy and commerce subcommittee commerce approved amendment the overall house trade bill provision giving reagan the power block sales foreign companies the sale was not the national economic interest the takeover provision was sent the full energy and commerce committee for consideration part the overall trade bill which being written several house committees the subcommittee bill would bar imports digital audio recording equipment that not made with anti copying chips this provision designed protect companies from the unauthorized use designs foreign products the bill calls for investigation whether engineering and construction firms are given adequate opportunity bid japan civil works procurement practices including the construction the kansai airport the energy and commerce subcommitte rejected plan offered rep william dannemeyer california republican require the pay investors one pct for the right hold their gold investments government storage his amendment called for the government sell gold coins and gold backed bonds with maturities years investors reduce the federal debt reuter 
earn	inertia dynamics corp trim qtr feb net oper shr cts cts oper net sales mln mln six mths oper shr cts cts oper net note oper data does not include year ago qtr and six mths loss from discontinued operations dlrs two cts per shr reuter 
earn	ati medical inc atim qtr jan net shr two cts eight cts net revs six mths shr two cts cts net revs reuter 
earn	savannah electric and power sav ups dividend qtly div cts cts prior payable april record april reuter 
earn	may department stores qtr jan net shr dlrs dlrs net revs billion billion avg shrs year shr dlrs dlrs net revs billion billion avg shrs note period ended feb share data restated for common stock split july and earnings reflect charge one share resulting from use the lfio method inventory valuation qtr earnings include pretax capital gain mln dlrs cts share from sale joseph horne division pittsburgh note qtr earnings include mln dlr cts share pretax charge for costs associated with combining may and and the denver operating divisions qtr earnings include pretax charge mln dlrs nine cts share for costs associated with several debt repurchase transactions including retirement mln dlrs pct debentures reuter 
acq	norstar bancorp fleet financial group agree merge 
acq	first union func acquisition approved first union corp said the buyout commerce national bank its first union national bank florida unit was approved commerce shareholders according the terms the deal first union will pay mln dlrs for the outstanding shares commerce national bank with mln dlrs assets reuter 
acq	norstar nor fleet flt merge norstar bancorp said that its board and the board fleet financial group have approved definitive agreement merge norstar spokesman said that press release containing further details the merger would issued shortly reuter 
earn	eldorado bancorp eldb sets pct dividend eldorado bancorp said its board declared pct stock dividend payable april shareholders record april three reuter 
acq	talking point gencorp inc the surprise billion dlr tender offer for ohio based conglomerate gencorp inc will not enough buy the company analysts said analysts estimated the dlr per share offer from general partners dlrs per share below the breakup value gencorp however market sources and analysts said uncertainty surrounds any transaction because the legal challenges gencorp broadcasting licenses gencorp stock rose heavy trading the expectation either there will someone else the bidder will sweeten the offer hoping get management cooperation said larry baker analyst with hutton group analysts said there concern about challenges gencorp broadcast licenses for two television and radio stations some the disputes dating back about years were brought groups that alleged improper foreign payments and political contributions think kind muddies already muddy situation said baker the offer some arbitragers said they were concerned the ongoing issue might stumbling block result long period time for any transaction source close general partners however said general partners would apply the federal communications commission for special temporary authority hold the broadcast stations the source said approved the authority would allow transaction carried out received the short form approval general partners would set trust which would hold the broadcasting properties until the licensing situation resolved general partners equally owned investors wagner and brown and glass maker afg industries inc some market sources speculated outside buyer such general partners might even catalyst resolution the challenges since would carry out gencorp plan sell the stations gencorp earlier this month reached agreement with walt disney sell its los angeles television station whj disney would pay mln dlrs gencorp and mln dlrs group that challenged the station license gencorp also has pending agreement sell wor secaucus mca inc for mln dlrs general partners said intends keep the company plastics and industrial products businesses and its tires and related products segment charles rose analyst with oppenheimer and said that breakup valuation the company might worth much dlrs per share rose estimated the aerospace business could bring dlrs per share one billion dlrs would diversitech the plastics unit broadcasting including assets pending sale might dlrs per share said the company formerly known general tire and rubber also has tire business rose estimated would worth five dlrs per share estimated the bottling business might also worth several dollars per share said analysts said gencorp chairman william reynolds who became chairman last year has been emphasizing the company aerojet general and diversitech general businesses gencorp founded became unfocused conglomerate over the years and analysts believe reynolds has helped improve the management doing very fine job trying deal with the non strategic assets the company rose said analysts expect gencorp resist the tender offer but they declined predict what steps the company might take they said would possible the company might consider leveraged buyout restructuring fend off the offer general partners holds pct gencorp stock and there was some concern about greenmail greenmail the payment premium for unwanted shareholders stock would doubt they would greenmail them but nothing surprises anymore said rose gencorp has not commented the offer has retained first boston corp and kidder peabody and advisers reuter 
acq	american express rumors pct shearson sold japanese firm traders say 
earn	admac inc jpac jan loss shr loss dlrs profit eight cts net loss profit sales nine mths shr loss dlrs profit cts net loss profit sales mln avg shrs reuter 
earn	paco pharmaceutical pps qtr feb net shr cts cts net revs six mths shr cts cts net revs mln mln note full name paco pharmaceutical services inc reuter 
earn	publicker industries inc pul qtr loss shr loss five cts loss cts net loss loss sales avg shrs mln mln year shr loss four cts loss cts net loss loss sales mln mln avg shrs mln mln note year net includes gain dlrs from settlement litigation with belcher oil dlr provision connected with resignation former president legal settlements and costs dlrs and dlrs expenses from closing contract packaging division reuter 
earn	bionomic sciences international inc bsii loss qtr jan end shr loss three cts loss nine cts net loss loss sales avg shrs half shr profit four cts loss cts net profit loss sales avg shrs note current year net includes gains sale assets dlrs quarter and dlrs half net includes extraordinary loss dlrs nil quarter and loss dlrs profit dlrs half reuter 
earn	piedmont aviation inc pie sets quarterly qtly div eight cts eight cts prior pay may record may one reuter 
earn	bionomic sciences bsii sees profitability bionomic sciences international inc said expects start operating profitably the fourth quarter the company today reported profit dlrs for the first half ended january after dlr gain the sale assets and dlr extraordinary loss year before lost dlrs after dlr extraordinary gain reuter 
acq	norstar shareholders get fleet financial shrs per norstar share merger 
earn	ceradyne inc crdn qtr loss shr loss cts profit cts net loss profit sales avg shrs year shr profit one profit cts net profit profit sasles mln mln avg shrs reuter 
earn	financial benefit group inc fbgia year loss shr loss cts loss cts net loss loss revs mln mln avg shrs note share adjusted for stock dividend and reverse split reuter 
earn	megaphone international inc infl qtr loss oper shr loss three cts loss three cts oper net loss loss revs year oper shr loss cts loss cts oper net loss loss res note net both periods excludes dlr gain from settlement old obligations reuter 
acq	butler btlr completes sale livestock unit butler manufacturing said completed sale its livestock systems division and part its control division separate transactions two unrelated parties butler livestock systems division was sold investor group including the president the operations and certain control division assets were sold minneapolis based enercon data corp terms the transactions were not disclosed reuter 
earn	carolina power and light cpl qtly div qtly div cts cts prior payable may one record april reuter 
earn	american international group aig qtly div qtly div cts cts prior pay june record june reuter 
earn	rochester gas and electric corp rgs payout qtly div cts cts prior pay april record march reuter 
earn	service corp international srv sets quarterly qtly div eight cts eight cts prior pay april record april reuter 
earn	valley resources sets split raises payout valley resources inc said its board declared three for two stock split and raised the quarterly dividend cts per share presplit from cts both payable april record march reuter 
acq	norstar nor fleet flt outline merger fleet financial group said that its board and the board norstar bancorp have agreed merge the two bank holding companies transaction which would create billion dlr asset bank holding company under terms the transaction each norstar shareholder will receive shares fleet common stock based the number fleet shares after giving effect previously announced april one fleet stock split the two for one stock split will increase fleet currently mln outstanding shares shares there are about mln norstar shares outstanding fleet said the deal expected completed july one the date which the nationalization rhode island interstate banking law takes effect for the full year ended december fleet rhode island based bank holding company reported net income mln dlrs and assets billion dlrs norstar albany holding company reported net income mln dlrs and assets billion dlrs fleet comptroller irv goss said estimated that the transaction will result minimal dilution fleet norstar earnings per share the intention both companies that cash quarterly dividends following the combination not decline for either company stock holders the company said for norstar issued dlrs annually cash dividends its common stock fleet current annual distibution pre split basis would equivalent dlrs share addition fleet and norstar have each granted the other option purchase such number authorized buy unissued shares common stock that will constitute pct the fully diluted shares outstanding the transaction subject both regulatory and shareholder approval the companies said that after the proposed merger the combined banking holding wil among the largest the country reuter 
acq	teck increase stake trilogy resource trilogy resource corp said teck corp agreed purchase mln trilogy common shares one dlr per share private placement which would increase its stake trilogy pct from pct trilogy also said its board approved private placement mln common shares price cts per share group investors the placement will made through mcneil mantha inc reuter 
acq	rabbit software rabt make acquisition rabbit software corp said has agreed principle acquire privately held communications hardware maker micro plus corp for about two mln common shares with closing expected may reuter 
earn	altex resources ltd year net shr six cts eight cts net revs reuter 
acq	amour inc make acquisition amour inc said has entered into letter intent acquire bard international associates inc for mln common shares transaction that would give former bard shareholders control the combined company bard makes tennis and squash racquets and accessories reuter 
earn	may reports strong qtr start may department stores reporting record results for the fourth quarter ended january said encouraged about the new fiscal year strong start february and march the company said its merger last year with associated dry goods which was accounted for pooling interests going very well may said are acting more like one company every day our expansion schedule track may said plans invest more than mln dlrs this year open department stores eight discount stores and more than specialty outlets the company reported fourth quarter earnings mln dlrs dlrs share from mln dlrs dlrs share year earlier revenues advanced billion dlrs from billion dlrs reuter 
earn	cramer inc crmr qtr loss shr loss eight cts loss dlrs net loss loss sales year shr profit four cts loss dlrs net profit loss sales mln mln reuter 
acq	american travellers atvc make acquisition american travellers corp said has entered into agreement purchase isl life insurance dallas corporate shell with active licenses operate states for about dlrs the company said closing expected late spring and will result american travellers being licensed seven new states reuter 
earn	ohio art oar sets quarterly qtly div six cts six cts prior pay may eight record april reuter 
acq	american express axp shearson rumors american express climbed rumors the company was about announce agreement sell pct its shearson lehman brothers unit nippon blife insurance japan traders said speculation about impending deal rumored worth mln dlrs also sent shares other brokerages sharply painewebber group inc pwj gained and merrill lynch and inc mer rose american express officials declined comment but cited statement released more than two weeks ago which said was studying matters strategic importance american express officials also pointed out the earlier statement issued march one said company policy not comment rumors speculation the earlier announcement also said american express and shearson were studying options including expansion capacity meet international competition and broadening access capital the latest rumors originated tokyo traders said the rumors are true gives them nice infusion capital for attractive price said lawrence eckenfelder analyst prudential bache securities reuter 
earn	cont illinois sees months brazil debt talks continental illinois corp cil chairman john swearingen said sees negotiations reschedule brazil debt payments taking least three six months brazil declared last month moratorium payment interest its medium and long term debts the moratorium expected persist the entire time that debt scheduling talks are under way believe will take three six months maybe longer for arrangement worked out reschedule brazil debt swearingen told reporters press briefing think brazil will pay its debts the long run just how long the run anybody guess swearingen said earlier the bank holding company said brazil moritorium may force increase non performing loans mln dlrs and reduce pretax and net income mln dlrs the first quarter and mln dlrs for the full year the bank will decide march whether characterize these loans non performing william ogden chairman the continental illinois national bank and trust chicago continental largest subsidiary said response inquiry ogden said the moratoriums will affect both pretax and net income equally because the banking firm has tax credits use swearingen predicted increase operating profits for because sees higher income and reduced expenses continental will reduce expenses through job cuts and reducing office rental costs cut about positions had net profits mln dlrs cts share from mln dlrs cts share the bank transferred mln dlrs poor quality loans and other assets the federal deposit insurance corp fdic during can transfer bad loans under the terms the restructuring agreement with the government the bank will transfer the remaining mln dlrs that entitled transfer fdic september swearingen said will choose loans based ultimate loss rather than their immediate effect non performing loans the bank loans the midwest middle market rose pct time overall weak loan demand the concerning banking acquisitions swearingen said the bank would like buy additional suburban chicago banks bought three small suburban banks swearingen said concerned that continental will taken over because bank the midwest region large enough buy and new york money center banks are prohibited law from buying illinois banks said however that the fdic still has control over who will eventually own the firm because still holds the equivalent mln common shares out total mln the fdic sold mln shares the public last year and has said intends sell the rest quickly possible the agency received the shares part its billion dlrs bailout the bank swearingen who came out retirement head the struggling banking firm after career oil industry executive said will retire when the three year period agreed continental chairman ends august would not comment successor the bank will expand its first options chicago options clearning unit into tokyo swearingen said but said its doubtful lending japan will occur because that country doesn need external sources cash reuter 
earn	reliable life insurance rlifa ups dividends qtly div class cts cts prior qtly div class cts cts prior pay june one record may one reuter 
acq	cross and trecker ctco sell unit cross and trecker corp said its warner and swasey subsidiary will seek sell its grinding division focus other areas its business the company said the grinding division had sales last year about mln dlrs makes grinding machines reuter 
earn	novar electronics corp novr qtr jan three shr loss eight cts loss eight cts net loss loss revs year shr profit eight cts profit four cts net profit profit revs mln mln note quarter net includes tax credits dlrs dlrs reuter 
earn	correction federal paper fbt raises payout item appearing march please read headline federal paper board fbt raises payout also please read qtly div cts cts corrects headline and dividend figure show payout was raised 
ship	shell canada shc sell tankers socanav shell canada ltd said its shell canada products ltd unit will sell three tankers effective april one socanav inc terms were not disclosed shell also said will contract exclusively from socanav normal marine distribution requirements for domestic markets with some exceptions for initial year period shell also said its shell canadian tankers ltd unit will lay off employees and that socanav will offer jobs employees the three shell vessels are lakeshell eastern shell and northern shell which range size from tonnes shell said shell canada pct owned royal dutch shell group reuter 
trade	warns congress new trade bill the european community has warned the house representatives that tough trade legislation considering could prompt retaliation trading partners the warning was sent letter from sir roy denman head the delegation washington dan rostenkowski chairman the house ways and means committee copy the letter was made available reuters denman told rostenkowski illinois democrat backed aspects the bill such one backing new talks under the gatt and one excluding protection for the textile industry but denman disagreed with other provisions which would require president reagan take retaliatory trade action against nations with large trade surpluses with the and would set new standards for judging unfair foreign trade practices denman told rostenkowski that gatt regulations prohibit member nations from taking unilateral retaliatory action trade disputes unless the action gatt approved said the congress makes retaliatory action mandatory then the united states would violation its international legal obligations and collision course with its major trading partners denman added that president should have flexibility enforcing trade laws saying the last resort any administration must take its decision light the overall national interest otherwise said the risk would counter reaction trading partners the united states retaliation enactment mirror image legislation employed against imports from the united states denman also said congress could prompt retaliation reduced the threshhold unfair trade making easier for firms file unfair trade practice claims retaliation could also prompted relaxing standards for findings that imports were injuring firms changes these standards must agreed upon multilaterally they cannot imposed the united states alone the world trading system said house leaders have rejected plan textile state legislators add the trade bill provision curb imports cloth and clothing similar measure passed two years ago but vetoed president reagan there was concern the leaders that reagan would veto the entire trade bill because the textile amendment reuter 
acq	fairchild president seeking management buyout fairchild semiconductor corp president donald brooks said intends take management buyout proposal the company parent some point the future and substantial funding available for such purchase fairchild owned schlumberger ltd slb brooks also told press conference that management successful may later attempt take the company public sure that such management buyout occur and hopeful that does the public market one the avenues will ultimately have use raise capital brooks said brooks also said the company would continue attempt exchange technology and manufacturing agreement with fujitsu ltd successful its buyout bid futjitsu withdrew offer acquire some pct fairchild semiconductor maker after government officials expressed opposition the transaction brooks told the news conference that any purchase would the form management buyout and not leveraged buyout also said the transaction could financed through debt issue conventional financing from investors brooks said management pleased number investment proposals bought them but added the investors must willing invest the future growth the company and not just selling off assets brooks also said was not aware any direct intervention the attempt block the merger not aware any direct contact between washington and fujitsu but that doesn mean doesn exist brooks said also said fujitsu executives remain enthusiastic about link with fairchild reuter 
earn	cpc cpc sees higher earnings per share cpc international inc said expects earnings per share increase over levels are confident that will top earnings per share and are optimistic about our longer term future well the company said its annual report cpc earned mln dlrs dlrs share revenues billion dlrs compared with income mln dlrs dlrs sales billion dlrs the share figures are adjusted for for split paid january share buyback program started last year reduced the number shares outstanding mln year end from mln dlrs the end adjusted for the split the food and grocery products company also said was the subject five stockholder lawsuits and one class action suit filed last november and december delaware new york and new jersey the suits are related the company purchase its shares from salomon brothers inc after salomon bought block the stock from ronald perelman who had acquired nearly mln cpc shares pct the company last year the suits allege the company bought the shares back artificially inflated price violating securities laws breaching directors fiduciary duties and wasting corporate assets cpc said the defendants which include the company its directors salomon and perelman deny all the allegations improper conduct and are defending the suits reuter 
earn	novar electronics novr sees results improving novar electronics corp said expects improved earnings this year due rapid expansion its logic one computerized buolding management system customer base and expectations good crime deterrent business the company today reported earnings for the year ended january three dlrs from dlrs year before reuter 
acq	mitsui mitsy security pacific spc set pact mitsui and ltd said has signed letter intent with security pacific corp buy pct japan security pacific finance ltd for undisclosed sum form joint venture japan security pacific has assets mln dlrs the joint venture will introduce various financial products the customer base mitsui and its group companies the company said security pacific will provide expertise consumer and commercial lending well data processing support japan security pacific finance wholly owned subsidiary security pacific international finance inc which owned security pacific corp security pacific said addition originating consumer and commercial loans and leases the joint venture will market related financial products and services reuter 
earn	carolina power cpl cancels generating unit carolina power and light said its board has decided cancel coal fired mayo unit two the second unit planned for its mayo plant person county the company said the kilowatt unit was only about one pct complete and was scheduled for commercial service carolina power said the status the unit had been under review because decision the north carolina environmental management commission that would have required the unit equipped with expensive sulphur dioxide removing scrubbers carolina power said unit one which has been operation since meets all air quality regulations without scrubbers through the use low sulphur coal and the addition scrubbers mayo unit two would have produced only marginal air quality improvements the company said will able purchase lower cost power from duke power duk for intermediate and peaking purposes than the projected cost power from mayo two with scrubbers said will retain the mayo two site for later development generating unit carolina power said mayo two was projected cost about mln dlrs including mln dlrs for scrubbers the higher construction costs plus higher operating costs would increase the cost power produced mayo unit two with scrubbers about mln dlrs per year company spokesman said the company has already spent about mln dlrs mayo two said estimate has yet been made the cost canceling the plant but the company does not expect take charge against earnings said carolina power intends include the cancellation costs rate filings will make late this year early next year reuter 
earn	allison place inc alls qtr net qtr ends jan shr seven cts net revs mln mln avg shrs mths shr cts cts net revs mln mln avg shrs reuter 
earn	carolina power and light cpl sets payout qtly div cts cts prior pay may one record april reuter 
acq	puritan bennett pben makes acquisition puritan bennedtt corp said has acquired majority interest medicom inc which makes heart monitor for use diagnosing heart disorders for undisclosed terms the company said the device will sold under the name companion heart monitor reuter 
earn	murray ohio mur sees higher first quarter net murray ohio manufacturing said expects first quarter earnings higher than the year ago dlrs dlrs per share due excellent lawn and garden shipments the company said bicycle sales were soft early the period but recent orders and shipments have been running well ahead last year said expects meet analysts projections earnings for the full year dlrs per share and could possibly exceed the estimate orders continue strong reuter 
earn	del val financial corp dvl sets payout mthly div cts cts prior pay july one record june reuter 
earn	enron ene pay dividends preferred enron corp said will pay accrued second quarter dividends the three series preferred stock will redeem may the company said will pay second quarter accrued dividends the redemption date cts per share the pct stock cts pct and cts pct reuter 
earn	allison place alls sales increase february allison place inc president marvin schenker said company owned stores sales for february increased pct over the same period last year said comparable store sales february increased pct the company which owns and franchises total clothing outlets where all articles cost six dlrs will increase that figure seven dlrs starting march schenker said said the impact that boost will start felt the early part the company second quarter and continue throughout the year schenker said costs the company merchandise will not increase reuter 
earn	borman inc brf qtr net shr dlrs dlrs net sales mln mln year shr dlrs dlrs net sales billion mln note fiscal net includes tax credits cts for the fourth quarter and dlrs for the year compared with cts and cts the respective periods fiscal reuter 
earn	corrected bankers trust new york payout qtly div cts cts prior pay april record march note full name bankers trust new york corp company corrects pay date april not april story that ran yesterday reuter 
earn	electric nes auditors qualify annual report new england electric system auditors have again qualified the utility annual report because uncertainty about whether its oil and gas subsidiary can recover its investments the qualification was noted the annual report which new england electric released security analysts meeting today the auditors also qualified the company report for the same reason noting the sharp drop oil and gas prices early president samuel huntington told analysts the utility will have take write down about mln dlrs federal regulators not allow the company pass the losses cited the accountants its rate payers reuter 
earn	corrected federal paper fbt raises payout qtly div cts cts pay april record march note full name federal paper board corrects headline and dividend figure item appearing march show dividend was raised reuter 
earn	rada electronic industries radif nine mths net ended december shr three cts nine cts net revs avg shrs note full name rada electronic industries ltd reuter 
crude	doe secretary proposes oil tax incentives energy secretary john herrington said will propose tax incentives increase domestic oil and natural gas exploration and production the reagan administration for consideration these options boost production while avoiding the huge costs associated with proposals like oil import fee herrington told house energy subcommittee hearing intention submit these proposals the domestic policy council and the cabinet for consideration and review the goal the administration policies increase domestic production would like shoot for one mln barrels day said the proposals were based doe study released yesterday warning the united states was threatened growing dependence oil imports project free world dependence persian gulf oil pct herrington said reuter 
earn	children discovery cdcra qtr loss shr loss cts profit six cts net loss profit revs mths shr loss cts profit cts net loss profit revs mln note qtr loss reflects dlrs non recurring expenses related senior management changes full name company children discovery centers america inc reuter 
earn	cpi corp cpic post higher results cpi corp said expects post higher sales and earnings for its fiscal year ended february when officially reports results three weeks said preliminary figures show total sales mln dlrs pct from mln dlrs its fiscal year net earnings from continuing operations rose mln dlrs almost pct from mln dlrs while per share earnings from continuing operations were dlrs pct from dlrs there were additional shares outstanding reuter 
earn	laidlaw transportation ldmfa sees better year laidlaw transportation ltd said earnings per share for the current fiscal year should increase substantially more than the pct average annual growth experienced the last four years revenues for the year ended august will about billion dlrs including gsx corp the waste services unit acquired from imasco ltd last year for mln dlrs laidlaw president michael groote told analysts last year laidlaw had operating earnings mln dlrs cts per share revenues mln dlrs groote also said the company expects excellent results the second quarter ended february but would not more specific said his revenue estimate for fiscal does not include possible further acquisitions and said that the addition gsx will produce increasing benefits fiscal through fiscal groote said the increased earnings the previous four quarters was due partly internal growth about pct the rest came from acquisitions said laidlaw expects sell small rubber recycling operation subsidiary gsx within the next few weeks but this will not make any material contribution earnings groote said also said not very optimistic about the ongoing negotiations buy pct tricil ltd toronto based chemical and solid waste services company with canadian and operations from trimac ltd calgary groote said that regardless the outcome the proposed tricil acquisition laidlaw will decide within the next days whether stay the north american chemical waste business through gsx corp feel profitable business with good growth potential and now want stay can get the right management groote said laidlaw financed the acquisition gsx its subsidiary laidlaw transportation inc with the proceeds mln canadian dlr preferred stock issue and borrowing groote said the company will gain about mln dlrs cash august from the exercise warrants groote also said waste services fiscal will represent about pct revenues school buses will contribute pct and trucking about two pct the trucking subsidiary western canada performing well and there are plans sell said would not estimate the contribution each segment earnings per share for the year also said that further acquisitions school bus operations the are likely within the next few months reuter 
trade	peru short term trade lines rise mln dlrs peru short term foreign trade credit lines have more than doubled mln dlrs under president alan garcia month administration central bank general manager hector neyra told reporters that many the credits were for day terms and could used several times year the trade credits stood million dollars when garcia took office july and announced foreign debt payments would limited pct export earnngs neyra told reuters that peru was current interest payments short term debt including the trade credit lines and about million dollars called working capital credits neyra did not specify the source the trade credit lines reuter 
earn	ensource inc eee qtr loss shr loss cts loss dlrs net loss loss mln revs mln mln year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln reuter 
earn	great lakes federal glfs hikes dividend qtly div cts cts prior qtr pay april record april note great lakes federal savings and loan full name company reuter 
earn	murray ohio myo sees higher qtr earnings the murray ohio manufacturing said expects first quarter earnings higher than the dlrs dlrs per share recorded for the first quarter last year the company which produces lawn mowers and bicycles said earnings are ahead last year due increased lawn and garden shipments january and february and record setting pace march reuter 
earn	alleghany corp declares dividend alleghany corp said its board declared stock dividend one share its common for every shares outstanding the company dividend its company for said the dividend will distributed april holders record march alleghany said cash will paid lieu any fractional shares its stock reuter 
interest	house subcommittee votes credit card rate cap house banking subcommittee has approved legislation limit the interest rates charged banks and other credit card issuers the consumer affairs and coinage subcommittee bill would limit credit card interest rates eight percentage points above the yield one year treasury securities effect now the bill would limit credit card rates pct compared nation wide average pct the subcommittee said the bill now goes the full house banking committee for further action reuter 
earn	premier industrial corp pre qtr net ended feb shr cts cts net mln mln revs mln mln nine mths shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln reuter 
acq	union uco sell union flonetics unit union corp said agreed principle sell its union flonetics corp subsidiary irvin kaplan houston investor the unit makes valves and marine specialty equipment for the military kaplan also controlling shareholder hunt valve inc the amount the cash transaction expected close april was not disclosed reuter 
earn	bank income shows first drop years problems the farmbelt and oilpatch regions contributed the first decline overall income for banks quarter century the federal deposit insurance corp fdic said the nation commercial banks had net income billion dlrs down slightly from record billion dlrs the total was still the second highest ever reported but was the first time income had not grown since the figures reflected radical split the health banks the two halves the country the fdic said the east one banks had losses last year while one four banks west the mississippi river had losses nationwide one out five banks reported losses the fdic said the first new series quarterly banking profiles planned issue don remember time when there was such clear distinction geographic area fdic chairman william seidman told reporters said that while the figures were not good they showed the problem did not lie with the banking system whole but with regional differences economic performance some banks have failed far this year twice many failed this time year ago but seidman said doubted the pace would continue positive note banks increased capital record billion dlrs last year and there has been slowing the number new problem banks all regions except the southwest seidman said banks provision for losses from bad loans the fourth quarter increased billion dlrs pct rise from year ago large banks those with assets one billion dlrs more reporting fourth quarter losses totaled the fdic said seidman said was too early say what effect brazil moratorium debt interest payments would have banks said bank deregulation had given managers more freedom run their banks and that increase failures was expected but this freedom from regulatory restraints also has meant other banks that were better managed have gotten stronger seidman said reuter 
earn	somerset savings bank sosa qtr feb net shr cts net year net assets mln mln deposits mln mln loans net mln mln note some per shr amounts not available company converted public ownership july reuter 
earn	vestar securities inc ves sets payout qtrly div cts cts prior pay april record march note company said prior qtr includes end year additional four cts dividend reuter 
earn	ameritech ait regular dividend set qtly div dlrs dlrs pay may record march note full name american information technologies corp reuter 
earn	hartford national corp hnat declares dividend qtly div cts cts prior pay april record march reuter 
earn	arkansas best corp abz declares qtly dividend qtly div nine cts nine cts prior pay april record march reuter 
earn	auditors lift qualification indiana pin auditors for public service indiana inc lifted qualification effect for two years its financial results according the company annual shareholders report psi report was qualified and when its auditors arthur andersen and questioned the utility ability recover costs its marble hill nuclear power plant and extend the maturity its credit agreement the company wrote off mln dlrs marble hill costs november and repaid its final mln dlrs debt october said reuter 
earn	marshall industries qtr feb net shr cts cts net sales mln mln nine mths shr cts cts net sales mln mln note per share figure reflects two for one stock split july reuter 
earn	financial benefit group inc fbgi year loss shr loss cts loss cts net loss loss note includes realized gains one mln dlrs versus dlrs reuter 
earn	arkansas best abz sees lower first qtr net arkansas best corp said its first quarter earnings will significantly lower than fully diluted earnings cts per share last year first quarter the company said pricing competition and lower traffic levels the motor carrier industry hurt its first quarter results however the company said its furniture and tire operations are more profitable this year than last year arkansas best also said that the industry sustains the upcoming pct motor carrier rate hike will offset the teamster labor increase scheduled for april said the labor increase then will pct for abf freight system its largest unit reuter 
earn	urs corp urs qtr jan net shr primary cts cts shr diluted cts cts net revs mln mln avg shrs pimary reuter 
earn	tie communications inc tie qtr loss oper shr loss dlrs loss cts oper net loss mln loss mln revs mln mln mths oper shr loss dlrs loss dlrs oper net loss mln mln revs mln mln note for the qtr and loss reflects pretax loss mln and mln which included writedown inventory and restructuring charges amounting mln and mln and tax gain and for the qtr and loss consisted pretax loss mln and mln which included writedown inventory restructuring charges and loss the sale division amounting mln and mln and tax gain and mln qtr excludes estimated loss for disposal hcl leasing corp sold july well its operating results prior this date year current and prior excludes loss and respectively for estimated loss disposal hcl leasing corp qtr and year current excludes foreign tax and respectively which payment would have been required the absence foreign operating loss carryforwards from prior years reuter 
acq	house plan seeks bar foreign takeover house subcommittee voted give president reagan authority block foreign takeovers companies similar the takeover fairchild semiconductor corp fujitsu ltd which was withdrawn the energy and commerce subcommittee commerce approved amendment the overall house trade bill provision giving reagan the power block sales foreign companies the sale was not the national economic interest the subcommittee rejected proposal requiring the pay investors one pct for the right hold their gold investments government storage his amendment called for the government sell gold coins and gold backed bonds with maturities years investors reduce the federal debt reuter 
acq	siebe completes acquistion ranco rni siebe plc the said completed the acquisition ranco inc following approval ranco shareholders according the terms the deal ranco holders will receive dlrs share cash ranco will transferred one siebe subsidiaries robertshaw controls ranco produces automatic control devices and power controls that regulate temperature pressure time sequencing current fluid flow and humidity its teccor unit makes specialized line semiconductors reuter 
earn	hawker siddeley canada inc year net shr dlrs dlrs net mln sales mln mln note pct owned hawker siddeley group plc reuter 
crude	immediate plans close refinery esso saf esso saf essf the french subsidiary exxon corp xon said had immediate plans shut down one its two refineries exxon new president lee raymond said earlier that could decide close french refinery esso saf spokesman said closure was hypothesis that depended the evolution the market and refineries ability make money said port jerome west paris and fos sur mer the mediterranean had benefitted from new investment over and had last year broken even after stock losses the port jerome refinery has annual production capacity seven mln tonnes while fos sur mer five mln the spokesman added industry sources said the easiest plant dispose would fos sur mer because single refinery while the port jerome refinery attached wider complex comprising petrochemical plant and lubricant production plant raymond was quoted saying published interview that exxon was reviewing its worldwide refinery operations and might decide close one its french refineries reuter 
earn	tel offshore trust teloz ups quarterly payout qtly distribution cts cts prior qtr payable april record march reuter 
earn	emhart corp emh set increase earnings emhart corp said plans increase worldwide revenues and earnings annual compounded growth rate pct and about pct respectively said these objectives were based several assumptions including four pct average inflation rate through and two pct three pct gnp real growth emhart reported net loss mln dlrs cts share after mln after tax restructuring charge which realigned the company assets emhart has divested itself many its units focus three primary markets industrial products consumer products and information and electronic systems emhart said industrial products should account for about pct projected revenues billion dlrs while consumer products should account for about pct those revenues and information and electronic systems about pct reuter 
earn	graphic industries inc grph qtr jan net shr cts cts net revs mln mln year shr cts cts net revs mln reuter 
earn	central pennsylvania financial corp cpsa payout qtly div cts cts prior qtr payable april record april reuter 
earn	hartford national corp hnat regular dividend qtly div cts cts prior qtr payable april record march reuter 
acq	gencorp asks shareholders postpone action tender offer 
acq	mony financial buys united administrators uai mony financial services said purchased united administrators inc effort secure larger market share for its group insurance line mony said this acquisition coupled with its purchase kelly associates contributes its goal expanding its group business and improving its product lines reuter 
earn	bfi communications systems inc qtr loss shr loss cts loss cts net loss loss revs year shr loss cts loss dlrs net loss loss revs avg shrs reuter 
acq	fortune forf acquire marine savings fortune financial group inc fortune savings bank subsidiary said executed definitive agreement buy marine savings and loan association florida for mln dlrs said the agreement has been approved the directors both banks and subject approval marine shareholders majority vote fortune said that under the agreement will pay dlrs cash for each marine shares outstanding among other things reuter 
acq	hawker siddeley canada sell unit hawker siddeley canada inc said that due poor market conditions for railway freight car manufacturing plans sell its trenton works division trenton nova scotia hawker siddeley said set aside provision mln dlrs for the proposed sale also said lower earnings were due much lower earnings transportation equipment and losses steel castings and forgings which offset gains the mining sector and improvements forestry equipment hawker siddeley also said demand for new railway equipment was limited with export sales frequently restrained customers financing difficulties demand for steel castings and wheels for canadian railways continued very depressed with maintenance requirements the lowest level the past decade however there was demand for industrial casting due increased hydro electric power generation the company said the company said manufacturing mining machinery and tunnelling equipment showed greatly improved results the and export markets mainly china and india the orenda division maintained high level activity aircraft engine repair and overhaul and the manufacture engine components sawmill equipment and skidder operations were affected strike british columbia and the extended debate imports canadian lumber but there were encouraging signs yearend the company said reuter 
earn	central illinois cip mths feb net shr dlrs dlrs net revs mln mln note central illinois public service full name company most recent months net excludes preferred dividends mln dlrs compared with mln dlrs last year reuter 
earn	bogart crafts corp vogt year loss ends nov shr loss cts loss dlrs net loss loss revs mln mln note prior ended nov reuter 
acq	gencorp group seek anti greenmail vote gamco investors inc affiliate gabelli and plans propose anti greenmail provision the gencorp inc annual meeting march according gamco chairman mario gabelli greenmail often involves the repurchase shares premium company from unwanted investor gencorp today received surprise tender offer from group that holds pct its stock gabelli also said gamco has sent filing the securities and exchange commission the pct gencorp stock held gamco and its affiliates the stock amounts shares and most was reported earlier filing filed passive investors show holdings more than five pct earlier today general partners owned wagner and brown and afg industries inc launched dlr per share tender offer for gencorp analysts said the offer was between and dlrs per share too low gencorp has made comment the offer gabelli said also proposes that management consider spinning off all assets other than the gencorp broadcast properties shareholders the licenses the broadcast properties have long been entangled series challenges one thing going clear and that going the meeting and putting greenmail gabelli said gabelli said fears that greenmail might motivation the offer the annual meeting held akron ohio reuter 
earn	laenderbank expects modest profit rise oesterreichische laenderbank olbv expects maintain its dividend and record moderate rise profits this year after the mln schilling net profit made general director gerhard wagner said wagner told news conference that last year pct rise net profit from mln was largely due greater domestic business and wider margins schilling interest rates the bank austria third largest raised its dividend pct its billion schilling nominal share capital from pct capital billion announcing the results wagner said will endeavour maintain the higher dividend laenderbank balance sheet total rose five pct billion schillings against pct growth foreign currency business last year accounted for some pct balance sheet total compared with about pct wagner blamed the realtive shrinkage foreign business chiefly the dollar fall against the schilling which effectively pegged the mark the dollar weakness had wiped some billion schillings off the balance sheet total wagner declined give exact figure for profits from the bank london branch which opened april but said that came close one mln stg schilling lending profit interest had risen pct billion schillings while commission earnings climbed pct mln according the federal budget the state due lower its stake pct laenderbank probably pct wagner said the exact timing the move depended the state reuter 
acq	national data ndac pact with signature national data communications inc said longer obligated issue its majority shareholder signature capital corp mln common shares under previous agreement national said entered into new agreement with signature which would have owned about pct national common under the prior pact under the new pact national said granted signature five year option acquire two mln shares its common for option price equal its current market value national has about mln shares outstanding reuter 
acq	pilgrim venture merger agreement pilgrim venture corp said signed letter intent merge with marketing technologies group inc rockville center under terms the agreement pilgrim publicly held corporation said will issue two mln shares authorized but unissued restricted common stock marketing technologies shareholders the company said expects complete the merger june marketing technologies developing computer based advertising system geared toward large advertisers the company said reuter 
acq	gencorp study general partner bid gencorp inc chairman william reynolds said the company board and its financial and legal advisors will study the unsolicited tender offer from general partners right now our advice all our shareholders wait until the board advises them its position which will happen before march reynolds said earlier today general partners controlled wagner and brown and afg industries inc said started tender offer for all gencorp shares and stock purchase rights for dlrs share general partners said the offer which due expire april conditioned receipt sufficient financing and other conditions are asking our shareholders postpone any decision whether accept reject the offer until the board finishes its evaluation reynolds said statement the wagner and brown afg offer does not expire until april shareholders have time make their decision said reuter 
earn	restaurant management services resm payout qtly div cts cts prior pay april record april nine note full name restaurant management services inc reuter 
earn	citizens first bancorp inc cfb raises dividend qtly div cts cts prior pay may record april note prior dividend adjusted for recent six for five stock split reuter 
earn	allison place inc alls qtr net shr seven cts cts net revs year shr cts cts net revs mln mln reuter 
earn	conagra inc qtr shr cts cts 
earn	reading rdgc qtr oper net oper shr cts cts oper net revs mln mln avg shrs year oper shr cts cts oper net revs mln mln avg shrs note year ago periods exclude extraordinary gain mln dlrs cts shr includes gains dlrs one mln dlrs qtr and mln dlrs mln dlrs year from tax loss carryforwards reuter 
earn	conagra inc cag qtr feb net shr primary cts cts shr diluted cts cts net mln mln revs billion billion avg shrs primary mln mln avg shrs diluted mln mln nine mths shr primary dlrs dlrs shr diluted dlrs dlrs net mln mln nine mths revs billion billion avg shrs primary mln mln avg shrs diluted mln mln note net before preferred dividend payments current nine mths net includes after tax provision five mln dlrs for consolidation food plants shr and avg shrs data reflect two for one split december results for year ago nine mths and current first half restated reflect acquisition miller enterprises for shares january reuter 
acq	canadian pacific seeks buyer for unit canadian pacific ltd said retained wood gundy inc seek buyer for maple leaf mills ltd toronto the company said maple leaf had sales mln dlrs and after tax profit mln dlrs diversified agriproducts company which produces and sells industrial and consumer flour flour based products and baked goods also operates fully integrated poultry business and rendering businesses markets livestock and poultry feed and distributes grain through network country and terminal elevators reuter 
acq	air canada courier buy sharply alters industry air canada mln dlr acquisition gelco corp gec canadian unit has dramatically altered canada fast growing courier industry largely dominated companies until this year company officials and analysts said state owned air canada takes over the country second largest overnight courier business just two months after another canadian company onex capital corp ltd approved the acquisition number one ranked purolator courier ltd from new jersey based purolator courier corp pcc but analysts said the two acquisitions were prompted financial restructuring undertaken the parent companies and likely don represent industry trend toward buying out foreign owned courier operations case whether you can buy from the right people the right time mcleod young weir ltd transportation analyst tony hine commented the two acquisitions fit with larger move companies embroiled take over restructuring sell off their canadian units generate ready cash said nesbitt thomson deacon inc analyst harold wolkin there very good correlation between the parent selling canadian subsidiaries and the parent either being under siege taking someone else over said gelco corp minnesota decided sell gelco express ltd part its previously announced program sell off four operating units buy back shares and pay down debt gelco express marketing vice president james neil told reuters the sale the first under gelco divestiture program and proceeds will used help pay down mln dlrs debt year end the company said while company officials declined disclose earnings and revenue figures neil said gelco express holds dominant position the industry handling more than packages day and generating revenues more than mln canadian dlrs year the earlier move purolator sell its canadian unit formed important part company restructuring program adopted after another canadian company unicorp canada corp acquired pct stake purolator and said would consider acquiring the whole company last month purolator agreed acquired company formed hutton lbo inc and certain managers purolator courier business for air canada its acquisition gelco canadian courier business represents excellent financial investment market sees growing pct annually spokesman esther szynkarsky said the airline also announced acquired pct stake ems corp calgary city messenger service did not disclose financial terms but szynkarsky said the two acquisitions totalled about mln canadian dlrs and the two business have combined yearly revenues mln dlrs she said the acquisition fit with air canada strategy seeking attractive investments that compliment its main airline business gelco will continue operate with current management independently air canada although air canada already operates its own air cargo business that includes small door door courier operation they well run they good investment they doing well growing market and that the way want keep szynkarsky said analyst hine said the gelco and purolator canadian units will likely retain operating links with their delivery network generating traffic for the former parent companies without them having tie capital canada the nature the business that incremental traffic incremental revenue hine said sort sausage maker business where you put place the sausage grinder and the more sausage you can stuff through the more money you make added reuter 
earn	north west telecom nowt qtr oper net oper shr cts cts oper net revs year oper shr dlrs dlrs oper net revs mln mln note full name north west telecommunications inc reuter 
acq	group reconsiders computer memories cmin bid shareholder group led far hills investor natalie koether said reconsidering its plan seek control computer memories inc and now plans sell its entire stake the company filing with the securities and exchange commission the group which includes sun equities corp said sold net computer memories common shares between march and prices ranging from four dlrs share lowering its stake shares pct the total outstanding the group said reconsidered its takeover plans after the company announced agreed stock swap march the chatsworth calif computer disk drive concern said agreed letter intent exchange pct its stock all which would newly issued for the assets privately held hemdale film corp with hemdale the surviving entity light these disclosures sun found necessary evaluate the feasibility seeking control the company and has sold portion its shares and currently intends sell the balance thereof from time time the group said the group which disclosed plans dec seek control the company reserved the right change its mind again reuter 
earn	ault inc ault qtr march one net shr profit eight cts loss cts net profit loss sales nine mths shr profit five cts loss cts net profit loss sales mln reuter 
earn	americus trust atu and atp initial dividend americus trust for american telephone and telegraph shares series two said will distribute initial dividend cts may shareholders record march reuter 
acq	xtra xtr buy fruehauf ftr unit xtra corp said agreed acquire all the stock rentco trailer corp wholly owned subsidiary fruehauf corp for about mln dlrs rentco had revenues about mln dlrs the transaction expected completed april and subject regulatory approval reuter 
acq	wickes companies wix completes sale unit wickes companies inc said completed the sale its sequoia supply division new company created the management that division paul hylbert president sequoia has been named president and chief executive officer the new company reuter 
acq	ldbrinkman ldbc chief cuts cenergy crg stake ldbrinkman corp chairman brinkman and members his family said they cut their stake cenergy corp shares pct the total outstanding from shares pct filing with the securities and exchange commission the group said sold cenergy common shares snyder oil partners soi march for dlrs and gave snyder another shares exchange for units limited partnership interests snyder reuter 
earn	inter tel inc intla qtr feb net shr three cts one net revs mln avg shrs reuter 
earn	texstyrene corp foam mths dec loss shr loss cts net loss revs mln avg shrs mln note company went public february reuter 
earn	fluorocarbon corp fcbn qtly dividend shr seven cts seven cts prior qtr pay april record april reuter 
earn	metro mobile mmct declares stcok dividend metro mobile cts inc said declared pct stock dividend the dividend will distributed april holders record march reuter 
earn	laurentian group sees higher share net laurentian group corp said expects earnings per share will show about the same proportionate increase last year the company had mln dlrs operating profit cts per share from mln dlrs cts per share shares outstanding increased mln from mln the american holding company laurentian capital corp will show substantial improvement this year chairman claude castonguay said before the annual meeting laurentian capital corp which recently acquired two small life insurance companies had profit mln dlrs eight cts per share compared seven mln dlrs cts per share castonguay said laurentian group corp the parent firm plans fill out its national financial services distribution system and make further acquisitions the right opportunity occurs the company also may expand this year continental europe conjunction with victoire french insurance company said reuter 
earn	metro mobile mmct declares stock dividend metro mobile cts inc said declared pct stock dividend the dividend will distributed april holders record march reuter 
earn	tridel enterprises inc year net shr dlrs cts net revs mln mln reuter 
trade	peru short term trade credit mln dlrs peru short term foreign trade credit lines regarded vital ensure smooth foreign commercial transactions have more than doubled mln dollars under the month government president alan garcia central bank general manager hector neyra told reporters many the credits were day trade credits were mln dlrs when garcia took office announcing tough stance limiting foreign debt repayments pct export earnings neyra told reuters peru was current interest payments short term debt including trade credit lines and about mln dlrs called working capital credits trade credit lines were mln dlrs but fell when peru stopped some payments private foreign banks reuter 
acq	sell off remaining pct stake the british conservative government said would sell off its remaining pct shareholding british petroleum plc during the next financial year which starts april treasury financial secretary norman lamont made the announcement parliament said the government policy sell its minority holdings companies and when circumstances permit part this policy now able announce that subject market conditions the government will sell its remaining shares during the financial year the last sale british government shares was september the government currently holds some mln ordinary shares the company lamont said the treasury would appoint financial advisers for the sale merchant banks and stockbrokers interested being considered for this would interviewed early april september the government sold mln shares underwritten offer for sale tender the striking price then was pence pct above the minimum tender price treasury spokesman said said the sale shares would not cut across the government plans privatise rolls royce either april may the sale baa plc the british airports authority which slated for privatisation either june july reuter 
acq	snyder soi buys stake cenergy snyder oil partners said acquired mln shares pct cenergy corp said continuing review its investment and has made determination its future course action reuter 
acq	far west financial fwf buy progressive progressive savings and loan association prsl said has agreed principle purchased far west financial corp far west savings and loan association the acquisition would cash merger with progressive shareholders receiving three dlrs per share the company said progressive savings has assets about mln dlrs and operates ten offices los angeles and orange counties the agreement subject federal and shareholder approval reuter 
earn	community savings bank csbn qtly dividend qtly div six cts six cts prior pay april record april reuter 
earn	texstyrene foam suspends preferred payments texstyrene corp said has suspended quarterly cash dividend payments its pct convertible exchangeable preferred stock the suspension effects the march payment and said does not expect pay preferred dividends the forseeable future said the payments were suspended because certain covenants contained its loan agreements spokesman said the company loss dlrs for the first months public company did not meet income condition the loans leading the suspension the maker foam cups food containers and other products said had outstanding preferred shares which had been privately placed the dividend payments the shares amounted dlrs per year the spokesman said reuter 
earn	spectran corp sptr qtr shr loss dlrs profit cts net loss mln profit revs mln mln year shr loss dlrs profit cts net loss mln profit mln revs mln mln note qtr includes mln dlr restructuring charge and writedowns dlrs year includes writedown mln dlrs reuter 
earn	vanguard index trust quarterly dividend qtly div cts cts prior pay april record march reuter 
acq	canadian pacific seeks buyer for maple leaf unit canadian pacific ltd said retained wood gundy inc seek buyer for maple leaf mills ltd toronto the company said maple leaf had sales mln canadian dlrs and after tax profit mln canadian dlrs diversified agriproducts company which produces and sells industrial and consumer flour flour based products and baked goods also operates fully integrated poultry business and rendering business markets livestock and poultry feed and distributes grain through network country and terminal elevators reuter 
acq	greyhound corp completes bus line sale greyhound corp said completed the sale its greyhound lines unit dallas based gli holdings inc for mln dlrs cash securities royalties and other considerations greyhound said gli authorized continue using the familiar running dog logo red white and blue shield while greyhound corp will continue use the running dog alone its symbol reuter 
acq	intercare care drops offering buyout plans intercare inc said terminated plans acquire universal care california health mainenance organization following first jersey securities decision withdraw underwriter for intercare proposed public debt and equity securities offering the acquisition was contingent its ability obtain financing fund the mln dlr cash portion the purchase price intercare said also said the offering was aimed raising mln dlrs for working capital and mln repay debt incurred connection with its recent acquisition medical enterprises inc the company further stated that has mln dlr working capital deficit and will therefore reduce operating expenses decreasing operating hours workforce reductions and the sale certain assets reuter 
acq	providence energy pvy finalizes acquisition providence energy corp said completed the purchase north attleboro gas terms were not disclosed north attleboro serves residential customers commercial customers and industrial customers reuter 
earn	mesa royalty trust mrt monthly payout mesa royalty trust mrt said unit holders record march will receive distribution amounting dlrs cts per unit payable april reuter 
earn	mitek systems expects loss current quarter mitek systems inc said expects report loss the current quarter ending march due primarily the government buying cycle the company did not quantify the size the expected loss said expects sales and profits for fiscal however exceed those mitek reported sales five mln dlrs and net profit dlrs mitek als said has introduced line page per minute desk top laser printers limited shipments will begin next quarter with full production planned for the following quarter said reuter 
acq	echlin ech buys stake champion parts creb champion parts rebuilders inc said echlin inc has bought pct stake acquiring newly issued shares and warrants buy another shares dlrs each for total investment dlrs the newly issued shares raises champion outstanding shares there are voting restrictions the new shares champion board will expanded include two three independent persons suggested echlin said champion will use the proceeds pay down long term debt said echlin has agreed limits buying additional champion shares and its ability seek control champion during the next seven years champion said echlin will also receive protection against the decline price champion stock for seven years echlin could receive one time payment its option cash stock ranging from one dlrs share four dlrs share the extent the market price champion shares less than nine dlrs share those times reuter 
crude	canterra energy drill well off nova scotia canterra energy ltd said will drill exploratory well the scotian shelf about kilometers east southeast halifax nova scotia drilling will begin late april meters water and will drilled total depth meters canterra said canterra will operate the well and has pct interest petro canada inc has pct trillium exploration corp has pct and nova scotia resources ventures ltd has pct reuter 
acq	fleet flt aims speed merger with norstar fleet financial group hopes its proposed merger with norstar bancorp nor ranked the largest banking merger can completed the beginning according executive fleet robert lougee director corporate communications for rhode island based fleet told reuters the company exploring the possiblity seeking change the national trigger date for the state reciprocal bank law jan from july one the decision the rhode island legislature the merger plan was announced midday news release that said the deal worth about billion dlrs would consummated july one when rhode island barriers interstate banking outside new england come down can consummate the deal earlier that would better for all concerned lougee said said the best his knowledge change the rhode island law would not hardship for any other banking institution the state said fleet optimstic connecticut law which only permits interstate banking mergers within new england can amended fleet owns first connecticut bancorp the connecticut law not amended time lougee said option would spin off that unit with repurchase provisions the new england reciprocal banking laws have excluded new york means protecting regional banks from being gobbled the money center giants wall street analysts said the merger accord between fleet and albany based norstar demonstrates the rapid pace interstate banking mergers since state legislatures begain permitting regional mergers reciprocal basis the supreme court decided mid permit the mergers fleet and norstar joint statement billed the proposed merger partnership two companies both will continue operate existing headquarters after the merger norstar holders will receive fleet shares for each one theirs following fleet previously announced two for one split fleet shares closed today giving the deal indicated value billion dlrs that topped the proposed merger los angeles based security pacific corp spc and seattle rainier bancorpartion rban the west coast deal announced about four weeks ago worth estimated billion dlrs chemical new york corp chl acquisition texas commerce bancshares last year was valued about billion dlrs making similar size the security pacific rainer deal the california combination wells fargo and wfc and crocker national corp last year was worth billion dlrs and there have been several bank mergers the southeast valued the mln dlr range merger equals said analyst john rooney moseley securities corp said norstar had book value the end dlrs per share while fleet book value was dlrs rooney noted that norstar chairman peter kiernan his while fleet terrence murray his late said kiernan would probably head the combined company until his retirement then murray could assume the top post analyst thaddeus paluszek merrill lynch and said fleet earnings would have been diluted about two pct the basis the merger terms announced today noted that fleet has teriffic reputation after having diversified number financial areas fleet has established consumer banks the southeast and known innovator securitization mortgages the merged banks would have assets excess billion dlrs and one the largest banks the norstar operates most new york state but not new york city lougee said some point the future banking operations that both norstar and fleet operate the state maine would combined the agreement between norstar and fleet includes lock option designed deter other acquirers each granted the other option purchase authorized but unissued shares amounting pct the fully diluted shares outstanding reuter 
earn	tridel enterprises inc sets initial dividend qtly div five cts pay april record march reuter 
interest	volatility likely remain low debt futures financial analysts see little chance that interest rate futures will break out their narrow ranges and low volatility during the remainder the week got little volatility wednesday said staley commodities international analyst jerome lacey but for the moment still trading range even unexpected developments concerning the growth the economy may not enough spur the market out its sluggish state the analysts said the bond market has not yet demonstrated that can break out its very low volatility said carroll mcentee and mcginley analyst denis karnosky needs something but not going news about the economy said karnosky said that the bond market will possibly break out the doldrums participants perceive that the dollar has stabilized and the federal reserve has more room conduct monetary policy but even wednesday when fed funds were below six pct the dollar strong and oil the soft side bond futures attracted eager sellers when contracts approached recent highs said addition changing perception about the dollar and monetary policy golden gate futures president norman quinn said the beginning april could bring foreign investors back into the marketplace the market beginning feel there may demand the beginning the fiscal year japan april quinn said quinn echoed the sentiment many analysts that there are large amounts cash waiting invested japanese investment securities does materialize the start japan fiscal year domestic funds may also flow into the bond market said could get stiff rally possibly enough bring yields long bonds down seven pct compared the current yield about pct quinn said the meantime even the prospect new supply not likely move futures the treasury announcement billion dlr refunding operation did little move cash government securities prices late wednesday after the close futures surprised supply pushed out the trading range lacey said reuter 
trade	house panel votes ease export controls key house panel voted greatly ease government controls exports several house committees moved rapidly toward approval major changes trade laws they hope will help solve trade woes the house foreign affairs subcommittee international economic policy voted direct the administration cut the list controlled exports per cent removing items longer considered important military security industries had complained they were losing sales foreign competitors who were allowed export freely products companies could not sell abroad the issue has been the subject administration debate the commerce department had held that unnecessary restrictions impeded exports while the defense department said current controls should retained but better administered four congressional panels met today consider portions wideranging trade bill that intends help companies sell more products abroad and fight unfair foreign trade practices their separate proposals some them conflicting will woven house democratic leaders into final trade bill for vote the full house late april sparked the proposal fujitsu ltd take controlling interest schlumberger ltd fairchild semiconductor corp the house energy and commerce subcommittee commerce voted expand reagan authority block foreign takeovers companies reagan would able block any takeover found damaging economic national security interests are losing our semiconductors which are the heart our national security subcommittee chairman james florio new jersey democrat said the subcommittee also called for the administration consider retaliation against japan for its restrictive government procurement practices the retaliation could triggered requirement that the administration investigate whether companies were treated unfairly and whether they have been barred from bids lucrative public works projects such the eight billion dlr kansai airport construction firms have complained they were not allowed bid its construction the urging the recording industry the subcommittee agreed bar imports new japanese product digital audio recorders meeting closed session the house ways and means committee agreed allow president reagan retaliate against foreign countries that refuse open their markets telecommunications products congressional aides said the committee also agreed companies would allowed press for relief from imports counterfeit products made violation copyright and patent laws reuter 
acq	gencorp bidder plans sale aerospace unit general partners controlled privately held wagner and brown and afg industries inc said plans sell gencorp inc aerospace and soft drink bottling divisions succeeds acquiring the company filing with the securities and exchange commission general partners said proceeds from the sale gencorp aerospace division would help repay some the debt would incur the dlr share cash tender offer general partners which launched the surprise tender offer today said already shares gencorp pct the total outstanding common stock general partners which estimated the total cost the takeover billion dlrs also said plans continue gencorp policy trying settle federal communications commission charges against two its television and radio station licenses said would also continue gencorp policy trying sell its new york area television station wor mca inc mca for mln dlrs and its los angeles station khj walt disney dis for mln dlrs but general partners said plans keep gencorp headquarter akron ohio general partners also said would maintain gencorp plastics and industrial products division well tires and related products but left open that might make other changes gencorp operations after completes the merger besides using mln dlrs its own equity for the tender offer general partners said would seek one billion dlrs under secured margin facility from wells fargo bank and other banks also said would seek billion dlrs from the sale shearson lehman brothers holdings inc its affiliates senior subordinated promissory notes march letter gencorp chairman william reynolds which was included the sec filing general partners officials said they were confident our ability promptly obtain the remaining funding described our offer materials for this reason not forsee any obstacles prompt consummation the transaction general partners said shearson dealer manager the general partners offer for gencorp reuter 
acq	monsanto mtc says debt was cut mondanto said has paid off two thirds the debt from its billion dlr acquisition searle and the end this lowered the company debt capitalization ratio from pct the end pct said the company also said that chemical sales accounted for pct its sales down from pct this underscores its strategy shifting away from low profit commodity chemicals mature markets into higher value chemical businesses high growth areas said reuter 
acq	lifestyle lif bombay amend merger agreement lifestyle restaurants inc said reduced the number bombay palace restaurants inc common shares received its previously announced merger agreement under the amended deal lifestyle shareholders will get one bombay share for each six instead five lifestyle shares under the amended offer bombay will issue about shares currently mln dlrs the amendment also increases the cash consideration offered lifestyle pct convertible subordinated debentures from pct the principal amount pct reuter 
earn	weisfield inc weis quarterly dividend qtly div cts cts pay april record april reuter 
ship	cargo preference funding accord seen near the departments agriculture and transportation are close agreement how fund the increasing share food aid shipped flag vessels under farm bill provision cargo preference melvin sims usda general sales manager told house agriculture appropriations subcommittee hearing that the two departments are negotiating memorandum understanding cargo preference under farm bill provision the percentage food aid shipments carried flag vessels was gradually increase over three years pct the increased cost using vessels was funded the transportation department instead usda however usda officials said transportation has far contributed money the agreement between usda and transportation expected resolve the matter usda officials said tom kay administrator the usda foreign agricultural service said yesterday the requirement that more food aid shipments carried vessels has been difficult meet the tonnage required under cargo preference goes its going harder and harder meet kay said two farm state congressmen pat roberts kan and glenn english okla said cargo preference makes farm export programs more costly and the program should eliminated the past farm interests opposed cargo preference have been defeated congress the maritime interests who view cargo preference vital the shipping fleet reuter 
acq	nippon life seeking tie with securities house nippon life insurance pursing possible link with american securities house expand its overseas investment portfolio company spokesman said but declined comment rumours the company would take pct stake shearson lehman brothers investment banking unit american express axp said the firm started sound out several investment banks capital participation about months ago and was narrowing the number prospects but did not say had set its sights one firm nippon life japan largest life insurer also plans set wholly owned investment unit nissei international america new york next month and subsidiaries canada singapore the cayman islands and jersey this year said these moves are line with its long term strategy put more emphasis overseas investment management opportunities home are declining while the company assets are growing the company especially attracted the scale and depth money and credit markets and wants establish firm foothold there the spokesman added reuter 
trade	japan march interim trade surplus falls japan customs cleared trade surplus fell billion dlrs the first days march from billion surplus year earlier the ministry finance said the march interim surplus compared with billion dlr surplus the same february period fob exports the first days march rose pct from year earlier billion dlrs and cif imports rose pct billion the average yen dollar rate used for the statistics was yen against year earlier reuter 
acq	mitsui and buys stake imatron mitsui and mits spokesman said its subsidiary mitsui and usa inc bought two mln dlrs newly issued shares imatron inc unlisted california based medical equipment manufacturer mitsui and usa now imatron fifth largest shareholder with pct the firm outstanding shares imatron capitalised mln dlrs the spokesman said mitsui and intends import imatron computerised diagnostic equipment into japan said reuter 
acq	sanwa bank acquires small stake portuguese bank sanwa bank ltd anwa has agreed buy two pct stake oporto based banco portugues investmento sarl bpi portugal largest merchant bank sanwa official said sanwa will purchase the shares from international finance corp bpi shareholder and sister organisation the world bank for mln yen said the acquisition will completed this month both the japanese and portuguse governments are expected give permission soon this the first time japanese bank has bought stake portuguese bank sanwa plans increase its stake bpi four pct the ceiling for foreign shareholders the official said the bank has also agreed with banco portugues atlantico state owned merchant bank oporto exchange information customers and help accelerate japanese investment and technological transfers portugal said reuter 
trade	india trade deficit falls india trade deficit provisionally estimated billion rupees the first months fiscal ending march compared with billion the year ago period the commerce ministry said exports rose the latest period billion rupees from the year earlier billion and imports billion from billion the period the figures show the trade deficit for all provisionally estimated around billion rupees from estimated record billion and actual billion commerce minister shiv shanker told reporters last month reuter 
earn	swissair net mln swiss franc mln div francs 
earn	swissair swsz year net mln swiss francs mln div francs per share turnover billion billion reuter 
trade	china taiwan trade via hong kong fell the value trade between china and taiwan via hong kong fell pct billion dlrs from billion dlrs hong kong census and statistics department said taiwan exports china through hong kong fell billion dlrs last year from billion while china exports rose billion dlrs from mln dlrs economists hong kong told reuters that china controls scarce foreign currency hurt its imports taiwanese consumer goods such electric fans and television sets herbal medicine and textiles were among china chief exports taiwan taiwan does not allow direct trade with china and indirect trade routed mainly through hong kong reuter 
money-fx	money market deficit forecast mln stg the bank england said forecast shortage around mln stg the money market today among the main factors affecting liquidity bills maturing official hands and the take treasury bills will drain some mln stg while rise note circulation will take out around mln stg partly offsetting these outflows bankers balances above target and exchequer transactions will add some mln stg and mln stg the system respectively reuter 
earn	legal and general group pre tax profit mln stg mln 
crude	economic spotlight saudi arabia reshapes economy higher world oil prices coupled with new realism ushered austerity could lift saudi arabia economy after five years falling revenue and growing budget deficits bankers and diplomats said the months ahead will prove critical the government attempts balancing act between defending higher oil prices and fostering recovery through bigger role for the private sector economists said oil earnings could recover this year about billion dlrs and nominal gross domestic product could grow about three pct the first rise since but the economists said this will possible only the organisation petroleum exporting countries opec succeeds defending world oil prices and saudi arabia not forced curtail output for too long saudi arabia now keeping production down defend opec newly established dlr barrel benchmark price oil minister hisham nazer told reuters output running about three mln barrels per day bpd well down saudi arabia opec quota mln set for the first half king fahd has stamped his personal authority opec new found determination defend prices move western diplomats believe underlines the kingdom need secure stable source income for its economy saudi arabia still the world largest oil exporter hugely wealthy country but the past five years declining revenue have taken their toll economists estimate gross domestic product fell pct last year and pct oil revenue last year when prices briefly dipped below dlrs per barrel probably totalled more than billion dlrs compared peak billion austerity still the watchword but saudi arabia will not allowed dip further into recession the saudis can afford draw down reserves temporarily offset the worst effects diplomat said the short term the kingdom can lessen the impact lower oil revenues and gaping budget deficit drawing foreign reserves still put around billion dlrs but such policy cannot pursued indefinitely bankers and diplomats said would amount fiscal recklessness the longer term also increases the dominance the public sector time when the government publicly urging private enterprise take over the lead role the economy bankers and diplomats said the government well aware the risks attached this policy but determined tough out the oil front even that means short term depletion reserves the budget deficit targetted huge billion riyals pct total outlay the budget explicitly recognises the need draw down reserves while foreign borrowing has been ruled out commerce minister suleiman abdulaziz salim told saudi businessmen this week the government had carefully considered the need stimulate the economy when drawing its budget plans late last year therefore took the bold step withdrawing more than billion riyals from its reserves and pumping into the economy said reserves were built during the late and early when saudi arabia breakneck pace construction and tales high spending became legendary the shrinking economy has wrought huge changes the fabric the kingdom private sector where poor management had gone unpunished the easy days the oil boom modern techniques cost control have been introduced markets expanded and outsized labour forces and inventories cut back the expatriate workforce has fallen sharply the number new bankruptcies appears declining but saudi banks hit hard non performing loans the corporate sector have become highly selective extending new credit government moves encourage lending and investigate company complaints about late public sector contract payments could boost confidence but recession has slowed the nation industrialisation program and discouraged foreign investment private wealth still very high and banks report more and more cash being placed deposit saudi arabia attempts shift the weight economic development from the public the private sector one the biggest tasks will convince businessmen channel personal savings into industrial projects within the kingdom and refrain from the temptation invest abroad reuter 
earn	john fairfax ltd ffxa first half weeks ended dec net shr cents int div cents pre tax mln dlrs mln net mln mln turnover mln mln other income mln mln shrs mln mln note div pay may reg april net after tax mln dlrs mln interest mln mln depreciation mln mln and minorities but before net extraordinary profit rpt mln dlrs nil reuter 
earn	britoil plc pre tax profit mln stg mln 
earn	fairfax says higher tax hits first half earnings media group john fairfax ltd ffxa said that its flat first half net profit partly reflected the impact changes the australian tax system fairfax earlier reported net earnings edged pct mln dlrs the weeks ended december from mln year earlier although pre tax profit rose pct mln from mln net would have risen pct but for the increase company tax pct from and the imposition the tax fringe benefits paid employers and not the recipients the company said statement fairfax also pointed the cyclical downturn revenue growth the television industry another reason for the flat first half earnings said considered the result satisfactory view these factors fairfax said its flagship dailies the sydney morning herald and the melbourne age boosted advertising volume did the australian financial review and posted extremely satisfactory performances magazines also performed strongly but pct rise television costs outweighed pct rise revenue said fairfax said fall net interest also contributed net earnings because group borrowings were reduced following the receipt mln dlr capital dividend from australian associated press pty ltd aap after the sale aap shares reuters holdings plc rtrs this accounted for the mln dlr extraordinary profit fairfax said too early predict results for the full year increased borrowings after the recent mln dlr acquisition the hsv seven television station melbourne will hit earnings but networking with the channel sevens sydney and brisbane will produce some offsetting cost savings reuter 
earn	britoil plc btol shr final div making pre tax profit mln stg mln net profit mln mln turnover mln stg billion extraordinary debit mln nil operating profit mln stg mln exceptional debit rationalisation programme mln nil petroleum revenue taxes mln mln corporation tax and overseas tax mln mln note the net effect accounting changes was reduce after tax profits mln stg retained earnings for prior years were increased mln extraordinary debit mln stg related the decision seek buyer for the company assets reuter 
earn	legal and general group plc year shr div making increase pct pretax profit mln stg mln net after tax mln stg mln pretax profit mln stg mln consists long term business mln stg mln long term business mln mln fund management mln mln short term business mln loss mln associate companies mln mln shareholders other income and outgoings mln debit mln credit exceptional long term business profit mln nil reuter 
trade	japan ask chip makers slash output further the ministry international trade and industry will ask japanese computer microchip makers further slash output the second quarter effort save its semiconductor pact with the united states miti officials said the united states has accused japan reneging the semiconductor pact failing stop the flow cut price japanese chips asian markets washington has threatened take retaliatory action after april the pact agreed last year calls japan stop selling cut price chips world markets and increase its imports american chips reduce some its huge trade surplus miti anxious salvage the bilateral agreement has been pressing chip makers limit production the hope that will boost domestic chip prices and reduce the incentive export last month the ministry asked japanese chip makers reduce first quarter output pct meet that request they had slash production pct over the final six weeks the first quarter that reduced production level were maintained through the end june second quarter output would come pct below that the first three months the year miti officials who declined identified said the ministry has not yet decided the extent the second quarter cutback one said that japanese chip makers are losing ground asia south korean and competition just markets there are picking miti has been criticized privately some japanese semiconductor makers for what they see heavy handed attempts ensure the success the japan chip pact reuter 
money-fx	money market shortage forecast revised down the bank england said revised down its estimate the deficit the system today mln stg from mln reuter 
acq	nippon life seeking tie with securities house nippon life insurance pursing possible link with american securities house expand its overseas investment portfolio company spokesman said but declined comment rumours the company would take pct stake shearson lehman brothers investment banking unit american express axp said the firm started sound out several investment banks capital participation about months ago and was narrowing the number prospects but did not say had set its sights one firm nippon life japan largest life insurer also plans set wholly owned investment unit nissei international america new york next month and subsidiaries canada singapore the cayman islands and jersey this year said these moves are line with its long term strategy put more emphasis overseas investment management opportunities home are declining while the company assets are growing the company especially attracted the scale and depth money and credit markets and wants establish firm foothold there the spokesman added reuter 
money-fx	money market given mln stg assistance the bank england said provided the money market with mln stg assistance this morning this compares with the bank revised shortage forecast around mln stg the central bank purchased bank bills outright the new dealing rates established yesterday these comprised mln stg band one pct mln stg band two pct and two mln stg band three pct reuter 
acq	sanwa bank acquires small stake portuguese bank sanwa bank ltd anwa has agreed buy two pct stake oporto based banco portugues investmento sarl bpi portugal largest merchant bank sanwa official said sanwa will purchase the shares from international finance corp bpi shareholder and sister organisation the world bank for mln yen said the acquisition will completed this month both the japanese and portuguse governments are expected give permission soon this the first time japanese bank has bought stake portuguese bank sanwa plans increase its stake bpi four pct the ceiling for foreign shareholders the official said the bank has also agreed with banco portugues atlantico state owned merchant bank oporto exchange information customers and help accelerate japanese investment and technological transfers portugal said reuter 
interest	bundesbank leaves credit policies unchanged the bundesbank left credit policies unchanged after today regular meeting its council spokesman said answer enquiries the west german discount rate remains pct and the lombard emergency financing rate pct reuter 
acq	american express says holding talks sale shearson stake nippon life 
acq	american express axp may sell shearson stake american express said and its shearson lehman brothers inc subsidiary have been holding talks the possible equity investment shearson lehman nippon life insurance japan the company said the discussions have led general understanding which nippon life would purchase pct equity investment shearson lehman for approximately mln dlrs and american express shearson lehman and nippon life would explore mutually advantageous nonexclusive business and investment opportunities the company said definitive agreement the matter subject number conditions including approval the american express board and the japanese ministry finance the company said its board scheduled meet march for its regular monthly sessions american express said continuing evaluate various courses action strategic importance shearson lehman addition the possible investment nippon life said the options range from expanding shearson capacity meet international competition broadening further its access capital the company also said all the courses action under study reflect the continuing integral role shearson lehman american express worldwide financial services strategy reuter 
acq	tek corp make acquisition tek corp said has signed letter intent acquire voice systems and services inc for undisclosed amount stock said completion the acquisition would change its name voice systems and services inc said vboice systems has received dlr contract provide flp communications dallas with voicemail systems through service bureaus located throughout the and has also contracted provide voicemail systems and administration and communications reuter 
acq	first wisconsin fwb make acquisition first wisconsin corp said has agreed acquire north shore bancorp inc northbrook ill for dlrs cash slightly more than twice book value subject approval north shore shareholders and regulatory authorities the company said completion expected the third quarter reuter 
earn	belvedere corp blv qtr loss oper shr loss cts loss cts oper net loss loss avg shrs year oper shr loss cts loss cts oper net loss loss avg shrs note net excludes realized investment gains dlrs dlrs quarter and dlrs dlrs year reuter 
earn	carter hawley hale stores inc qtr shr loss dlrs profit cts 
acq	waste management says prepared raise its bid for chemlawn dlrs share 
earn	transamerica have gain unit sale transamerica corp said expects realize gain about mln dlrs the previously announced sale the group life and health operations its transamerican occidental life insurance subsidiary provident life and accident pacc but said its transamerica life cos unit plans change more conservative method amortizing deferred policy acquisition costs resulting one time charge that will offset most the gain from the sale transamerica said has now signed definitive agreement for the sale which will structured reinsurance transaction involving about mln dlrs reserve liabilities said the mln dlr gain from the sale and about mln dlrs statutory surplus that previously supported operations the group being sold will used support transamerica life cos efforts accelerate the growth its remaining businesses said closing expected may one subject regulatory approvals reuter 
earn	ameritrust amtr sets two for one stock split ameritrust corp said its board declared two for one stock split and management intends recommend directors increase the quarterly dividend least cts per share presplit from the current cts the company said shareholders the may annual meeting will asked approve increase authorized common shares mln from mln well limitation directors liability and the establishment classified board the split subject approval the increase authorized common shares said reuter 
earn	carter hawley hale stores inc chh qtr loss ended jan shr loss dlrs profit cts net loss mln profit mln sales billion billion avg shrs mln mln year shr loss dlrs profit cts net profit mln profit mln sales billion billion avg shrs mln mln notes share results after provision for preferred dividends per share profits from operations were dlrs cts the quarter and dlrs dlrs year fully diluted basis this was dlrs cts and dlrs dlrs respectively based mln mln shares outstanding quarter and mln mln year results both periods include pre tax losses mln dlr sale john wanamaker and mln dlrs related recapitalization for combined primary per share charge dlrs quarter and dlrs year results also include after tax charge mln dlrs equal dlrs share quarter and dlrs year for premium early retirement debt net both periods includes pre tax loss mln dlrs equal cts share sale holt renfrew results include lifo charge mln dlrs credit mln dlrs quarter and credit mln dlrs credit mln dlrs year reuter 
earn	first american financial famr special payout first american financial corp said its board declared special dividend cts per share and the regular quarterly dividend both payable april holders record march reuter 
earn	caribou energy reverse split approved caribou energy inc said shareholders have approved one for reverse split that will take effect tomorrow and the company has changed its name texas petroleum corp reuter 
acq	national capital ncets make sale national capital real estate trust said has entered into definitive agreement sell its irvine commercial center irvine calif shuwa corp california for mln dlrs said the buyer has aced dlrs into escrow account nonrefundable deposit the trust said existing debt secured the property about dlrs due completion the transaction which expected early april reuter 
earn	swissair reports lower profit and dividend swissair swsz reported pct drop net profit mln swiss francs and said that line with its new flexible dividend policy would cut its payout francs per share from president robert staubli told news conference that the first two months this year gave hope that profit would least equal last year figure but said much depended outside factors such fuel prices and the exchange rate the fall was largely due mln franc loss swissair core flying business last year against profit mln francs the previous year said the net profit figure was reached after receipt some mln francs from plane sales compared with mere mln francs finance head martin juenger said expected around mln francs from sales this year although said much depended the speed with which decided sell its gross profit for reached mln francs with mln francs subtracted for ordinary depreciation gross profits for the previous year had been mln francs with mln subtracted for depreciation including mln francs supplementary depreciation staubli said the result well below predictions made this time last year suffered considerably due exchange rate fluctuations particular the strength the swiss franc while the negative effects revenue the sharp drop the dollar were partially compensated for cheaper fuel prices there was such offset for the strength the franc against other european currencies income and profit generated services these countries shrank very substantial margin said exchange rate trends therefore hit much more severely than most other airlines reuter 
crude	canadian roxy new alberta oil discovery canadian roxy petroleum ltd said new oil discovery the peerless lake area north central alberta capable flowing over barrels oil day from lower zone and more than barrels day from separate upper zone canadian roxy has pct interest the five year royalty free well known the canadian roxy trout texaco canada inc holds pct mlc oil and gas ltd pct northstar energy corp pct and tricentrol oils ltd pct canadian roxy said drilling has started follow exploratory well about one mile northwest the discovery well the company said holds net acres the vicinity the discovery and seismic program underway evaluate further drilling opportunities reuter 
acq	waste management wmx raise chemlawn chem bid waste management inc said sent letter the chemlawn corp board saying prepared increase its bid for chemlawn dlrs share from dlrs chemlawn promptly negotiates and executes simple two step merger agreement containing only essential covenants and conditions upon such agreement waste management said would amend its dlrs share cash tender offer reuter 
earn	stuarts department stores stus qtr net ended jan shr one cts net revs mln mln year shr cts cts net revs mln mln note full name stuarts department stores inc reuter 
earn	iomega corp iomg expects qtr and year losses iomega corp announced expected revenues for the first quarter significantly lower than planned and that anticipated loss for the quarter its annual report mailed stockholders tomorrow the company will announce its first quarter loss will excess mln dlrs primarily result lower than anticipated revenues the company said recored net income dlrs cts per share for its first quarter fiscal revenues mln the company said lowered its revenue plan for the balance and also expects record loss for the entire year iomega said the first quarter loss will place the company default under certain covenants its bank line credit unless these covenants are modified the company currently exploring alternatives for raising additional funds through debt for equity financing reuter 
earn	com corp coms qtr feb net shr cts cts net sales mln mln avg shrs mln mln nine mths shr cts cts net sales mln mln avg shrs mln mln reuter 
earn	porsche half year earnings called satisfactory ing porsche pshg said earnings first half year were satisfactory despite burdens caused the dollar weakness against the mark and stagnating domestic demand its semi annual shareholders report porsche said first half turnover fell six pct billion marks from billion the same period however earnings were satisfactory said without giving absolute figures domestic turnover fell pct mln marks from mln foreign turnover dipped billion marks from billion the first half last year although the export quota rose pct from pct the car sector accounted for billion marks turnover against billion the year earlier said production dropped five pct cars from manufacture the and models rose six pct from units but production and models was cut pct units from and would cut further the report said car sales fell four pct units from the comparable half year the report said demand continued for all models but demand fell other markets domestic sales were pct down units from while sales abroad rose five pct from share exports sales rose pct from pct investments were reduced mln marks from mln earnings were hit lower sales and the lower value the dollar and currencies other important markets nevertheless sales and turnover would finish the july year high level porsche said reuter 
earn	progressive bank inc psbk qtly div seven cts seven cts prior qtr payable april record march reuter 
earn	geriatric and medical centers inc gemc payout qtly div two cts two cts prior pay april record april three reuter 
earn	convenient food mart inc cfmi qtr net period ended dec shr cts cts net revs year shr cts cts net revs note period ended december share results adjusted for five for four stock split april and pct stock dividend issued dec reuter 
earn	medchem products inc mdch qtr feb net shr cts cts net sales half shr cts cts net sales reuter 
money-fx	money market given further mln stg help the bank england said gave the money market further mln stg assistance the afternoon session this takes the bank total help far today mln stg and compares with its upwards revised estimate the shortage the system around mln stg the central bank bought bank bills outright comprising mln stg band one pct and mln stg band two pct reuter 
earn	pagurian corp ltd year net shr dlrs cts net mln mln revs mln mln note shares outstanding mln mln avg shrs not given company recently raised equity and voting interests hees international corp pct and pct respectively reuter 
earn	unilever plc adjusts dividend unilever plc said reduction advance corporation tax act has prompted the company adjust its final dividend per share from the originally declared unilever final dividend amounted the adjustment stemmed from the dividend equalisation agreement between the british company and its dutch partner unilever act respect any dividend paid unilever plc has treated part the dividend unilever final dividend remains guilders declared with the results march reuter 
trade	jordan sudan sign mln dlr barter trade pact jordan and sudan signed barter trade agreement under which they will exchange mln dlrs worth goods year sudanese officials said they said sudan will export corn sesame peanuts spices and cow hides while jordan will export cement tomato puree chemicals and pharmaceuticals reuter 
acq	metro funding shareholders approve merger metro funding corp said its shareholders approved its merger into maxcom corp and its change incorporation from nevada delaware metro funding also said its subsidiary comet corp will renamed maxcom usa the company also reported shareholders approved the authorization shares common stock set aside for incentive stock option plan reuter 
earn	blockbuster entertainment corp bbec year loss oper shr loss dlrs loss cts oper net loss loss revs note net excludes dlr gain from discontinued operations net includes tax credits dlrs dlrs reuter 
acq	telecom tele says sale closing delayed telecom plus international inc said the closing the sale its pct interest tel plus communications inc siemens has been delayed the company said will continuing its talks with siemens and based current circumstances believes the transaction could close next week closing had been scheduled for march reuter 
earn	the home depot inc qtr feb one net shr cts cts net revs mln mln year shr cts cts net mln revs billion mln reuter 
crude	energy chief sees promise oil tax change energy secretary john herrington said his proposed option raise the oil depletion allowance pct was probably the most economically promising way spur domestic production the white house has said would consider the option although was generally opposed any revisions the new tax code herrington told meeting the mid continent oil and gas association that the higher depletion allowance new oil and enhanced oil recovery would cost taxpayers about mln dlrs year the option was one many contained report oil and the national security the energy department sent the white house tuesday herrington said the increased depletion allowance option that one that could significantly increase production very low cost the american taxpayer again rejected oil import fee far too costly the overall economy reuter 
money-fx	money market given mln stg late assistance the bank england said provided the money market with late assistance around mln stg this brings the bank total help today some mln stg and compares with its forecast shortage the sytem around mln stg reuter 
earn	deutsche babcock sees higher profits deutsche babcock dbcg expects profits rise the current financial year ending september although the earnings level still unsatisfactory managing board chairman helmut wiehn said told news conference that business during the year had weakened somewhat but was still generally positive sales during the first five months february was billion marks pct down from the same period however expected turnover for the year approximately unchanged from the previous year billion marks when current orders from major projects are booked wiehn said incoming orders the first five months end february totalled billion marks compared with billion for the same period they included pct increase domestic orders billion marks orders hand for the five months were pct higher billion marks wiehn added that babcock was still aiming for three pct yield turnover the year september group profits totalled mln marks sales billion against the previous year mln billion marks parent company turnover was unchanged mln marks wiehn said babcock liquidity had clearly improved the current business year with financial reserves the first five months rising mln marks mln after increasing mln marks mln said pre tax earnings per share for according the dvfa method were marks from marks and earnings after tax rose marks from the company earlier said dividend will unchanged three marks for ordinary shares and marks for preference shares reuter 
earn	pillsbury qtr shr cts cts 
earn	control resource crix sees lower earnings control resource industries inc said the company estimates earnings between and dlrs cts per share compared with dlrs cts per share during the company said preliminary estimates revenues mln dlrs compared with for the estimated results are based shares outstanding compared shares outstanding for steven lutterbach chairman said net income for was adversely affected primarily due lower operating margins the company western environmental subsidiary and increase bad debt reserves western environmental was acquired march lutterbach explained the company has taken steps improve financial and accounting controls primarily western which were not adequate the time acquisition noted the final results for the fourth quarter will depend the allocation increased costs between the second and fourth quarters lutterbach said possible second quarter results will restated though final net income for the year will remain the estimated range added preliminary indications for first quarter revenues were favorable reuter 
acq	mediq med american medical ami unit buy mediq inc said its mediq diagnostic imaging partners has signed letter intent acquire substantially all the assets american medical international inc ami diagnostic services inc subsidiary for undisclosed terms the company said ami diagnostic operates seven magnetic resonance and mutli modality diagnostic imaging centers mediq diagnostic limited partnership which mediq general partner reuter 
acq	cyclops cyl board restructured include dixon cyclops corp said its board has been restructured under the terms the company merger agreement with dixons group plc following the british company acquisition pct cyclops stock the company said its board now composed three cyclops executives chairman knoell president james will and senior vice president william dickey and three dixons executives vice chairman and financial director egon von greyerz corporate finance director gerald corbett and secretary jeoffrey budd reuter 
acq	blockbuster entertainment bbec selling unit blockbuster entertainment corp said will sell its investment amtech corp the company chairman david cook and president kenneth anderson the company said the sale taking place because amtech not compatible with blockbuster main line business will require substaintial additional funding develop and market its product and expected sustain operating losses for the forseeable future the company said cook and anderson will form new company with the sale called amtech holdings inc reuter 
earn	manor care inc mnr qtr feb net shr cts cts net revs mln mln avg shrs mln mln year shr cts cts net mln mln revs mln mln avg shrs mln mln note year net includes charge dlrs six cts share for debt redemption reuter 
earn	adtec inc jail qtr feb net oper shr cts cts oper net revs nine mths oper shr cts cts oper net revs note net excludes tax loss carryforwards dlrs dlrs quarter and dlrs dlrs reuter 
ship	accord said sight brazil seamen strike accord sight brazil day old national seamen strike which has seriously delayed exports union official said the official speaking from strike headquarters rio janeiro said brazil seamen were still strike said the others had returned work over the last week accepting pay offers pct from four private companies and from the frota nacional petroleiros fronape part the state owned oil company petrobras the association grouping private shipowners syndarma has also offered pct but talks have far been deadlocked over payment for overtime the union official said believed this issue would resolved shortly reuter 
earn	pillsbury psy qtr feb net shr cts cts net sales billion billion avg shrs mln mln nine mths shr dlrs dlrs net sales billion billion avg shrs mln mln note results include gain mln dlrs cts share from sale assets results include gain mln dlrs cts share from sale assets offset partly restructuring provision fiscal results restated give effect adoption financial accounting standards relating pension costs segment data for foods restated include results commodity marketing previously reported separately earnings restated for two for one stock split effective nov reuter 
earn	jim walter corp qtr shr cts cts 
earn	jim walter corp jwc qtr feb net shr cts cts shr diluted cts cts net mln mln revs mln mln first half shr dlrs dlrs shr diluted dlrs dlrs net mln mln revs billion billion avg shrs mln mln avg shrs diluted mln mln note net includes gains dlrs two cts share quarter and dlrs four cts share from reduced pension expense under new accounting procedures net both periods also includes gain mln dlrs cts share from sale land alabama reuter 
acq	scan graphics merge with public company scan graphics inc said will acquired captive venture capital inc public company stock transaction approved shareholders both companies result the merger the former shareholders scan graphics will become the majority shareholders captive venture capital the name the corporation will changed scan graphics inc and its borad directors will composed individuals now the scan graphics board under the terms the deal capitive venture capital will issue mln shares restricted convertible preferred stock convertible into mln shares common stock exchange for all outstanding stock scan graphics upon completing the deal there will common shares capitive venture capital issued and outstanding which shares will held the public addition there are tradeable class warrants and warrants each which entitles the holder buy shares common stock dlrs and dlrs respectively share scan graphics makes systems that allow users convert graphic documents such charts maps and engineering drawings into computer data that can displayed edited and stored computer currently captive venture capital stock traded over the counter and will soon trade under the scan graphics name application for nasdaq listing expected soon requirements are met reuter 
earn	wisconsin power and light wpl votes payout qtly div cts cts prior qtr pay may record april reuter 
earn	goodmark foods inc gdmk qtr feb net shr cts cts net sales mln mln nine mths shr cts cts net sales mln mln avg shrs reuter 
trade	economic spotlight deficit with nics the trade deficit with taiwan and korea expected widen this year despite some economic and currency adjustments the two newly industrialized countries economists said the surpluses that taiwan and korea ran with the will get bigger this time next year the will screaming those countries about their exports said steve cerier manufacturers hanover trust taiwan currently the third biggest exporter the after japan and canada while korea the seventh largest faced with heightened protectionist sentiment congress the reagan administration has been stepping the rhetoric against taiwan and korea urging those countries allow their currencies appreciate and lift impediments free trade the thrust has shifted those newly industrialized countries nics amid signs the dollar steep drop against the currencies japan and most nations previously the main focus the drive cut its trade gap beginning close the competiveness gap for american goods treasury secretary james baker said recently that expects reduction japan trade surplus this year but manufacturers still are losing markets their own doorstep taiwan and korea whose currencies have not risen much the yen and the mark major beneficiaries soft oil prices and with low labor costs taiwanese and korean exporters are well placed take the slack the fashionable comment washington was japan bashing now nic bashing said robert chandross lloyds bank plc asia four main nics hong kong south korea singapore and taiwan accounted for almost one fifth the overall billion dlr merchandise trade deficit for the trade gap with taiwan rose billion dlrs from billion while the bilateral trade deficit with south korea grew billion from billion and preliminary data show that the growth trend continuing the trade shortfall with taiwan was billion dlrs january pct from year earlier the gap with korea was mln dlrs pct from year ago lately both nations have said they will take steps defuse incipient trade tensions korea said choosing many the items which the wants cut import tariffs order deflect pressure for currency revaluation still south korean trade minister rha woong bae said last week that korea would maintain trade surplus for three five years way cut its billion dlr foreign debt for its part taiwan said january that will cut tariffs goods sometime the second half and try diversify exports but vice economic minister wang chien shien said last month that still does not expect taiwan trade surplus with the will fall the nics have made deep inroads into markets for textiles and electronic goods but korea raising its profile the area big ticket manufactured goods notably cars korea expects its auto exports mostly for north america balloon units from zero the nics exports are almost all manufactured goods when their exports rise hits the heart the manufacturing base cuts directly and our customers said bob wendt manager for economic studies bethlehem steel corp the takes pct korea computer products exports pct its electrical appliances and pct its telecommunications equipment recent study morgan guaranty trust says taiwan and south korea are the most pressing trade issue for the while hong kong and singapore run trade surpluses with the these are offset their deficits with other countries but taiwan and lesser extent south korea stand marked contrast both these nations have moved rapidly into large bilateral surplus with the and major overrall trade and current account surpluses the morgan study says morgan expects taiwan overall trade surplus grow billion dlrs from billion last year and korea increase billion dlrs from billion concern about the nics not confined the lot korea and taiwan exports the have been japan expense said richard koss general motors corp february paris meeting six major industrial powers exorted nics lower trade barriers and revalue currencies but this two pronged approach has drawn little response from the two nations far and any case will only work with sizeable lag economists say the has not said how much thinks the taiwan and korea currencies should climb the taiwan dollar which pegged the dollar has risen about pct since september while the korean won has risen about five pct but real terms the taiwan dollar has been flat against the unit and the won has lost seven pct economists say not seen any lessening competition from those countries that can attribute currency changes said bethlehem steel wendt and far pleas for taiwan and korea use their hefty export earnings import more have had little effect moreover uncertain how far protectionism will get given the administration free trade stance hard see that anything will passed much before year end and then the question will have teeth one economist said reuter 
acq	rank xerox xrx sell south african unit xerox corp unit rank xerox ltd said agreed principle sell its south african company rank xerox south africa pty ltd altron group fintech unit terms the deal were not disclosed altron said the acquisition was key making fintech office systems company the south african rank xerox unit sells copiers and duplicators throughout south africa and namibia south west africa has over employees all whom will retained fintech when the deal closes rank xerox said reuter 
earn	countrywide credit industries inc ccr qtr feb end shr cts cts shr diluted cts cts net revs mln mln avg shrs mln mln shr dlrs cts shr diluted dlrs cts net mln revs mln mln note share adjusted for stock dividends declared through today reuter 
earn	countrywide credit ccr sets higher dividend countrywide credit industries inc said its board declared eight per share quarterly dividend from seven cts last quarter and two pct stock dividend the cash dividend payable april holders record march and the stock dividend payable april holders record march reuter 
earn	excel industries inc exc boosts dividend qtly div nine cts eight cts prior qtr pay april record april reuter 
earn	baker fentress and bkfr votes dividend qtly div cts cts prior qtr payable june record may reuter 
acq	amcast acst completes sale newman division amcast industrial corp said completed the sale its newman division newman manufacturing inc new company formed newman employees the sale price was not disclosed amcast said newman kendallville indiana plant one the country largest producers gray iron castings for the automotive and commercial air conditioning and refrigeration industries said the plant employs people amcast said decided sell the division move out the gray iron castings business reuter 
grain	usda asks tight insect rules for grain shipments the agriculture department proposing tighter federal standards setting allowable limits insect infestations grain shipments the changes the standards would include the following establishing equal tolerances for the number live insects shipments food grains feed grains and oilseeds revising the definition infested give equal value all insects injurious grain establishing lower levels infestations the infested level would set three more live insects per representative sample about grams two more insects and the final infestattion level would set one more live insects per representative sample revising the definition sample grade adding limit live dead insects per sample revising the definition sample grade for wheat adding limit insect damaged kernels per grams wheat the department asked for public comments the proposals april reuter 
earn	pillsbury psy hurt restaurant operations pillsbury corp reporting lower earnings for the third quarter ended february said strong performance its foods group was offset restaurants group declines excluding unusual items said restaurants operating profit was down the quarter pct from year ago sales rose four pct said burger king usa and bennigan reported higher operating profit but profits fell sharply steak and ale which introduced new menu pillsbury also reported lower profits distron burger king distribution arm and said increased investment spending developing concepts quikwok bay street and key west grill hurt results said foods operating profit excluding unusual items rose pct with international operations and domestic breads and baking products major contributors improvement the quarter turnaround grain merchandising was major factor profit improvement for the nine months pillsbury said pillsbury said corporate expense showed mln dlr profit the quarter reflecting mln dlr gain the sale joint interest australian food company and lower corporate expenses largely result early retirement program initiated year ago earlier pillsbury reported fourth quarter earnings mln dlrs cts share down from mln dlrs cts share year ago sales advanced billion dlrs from billion dlrs pillsbury said loss investment tax credits under the federal tax reform act reduced per share earnings nine cts the quarter and cts the nine months result the act said its effective income tax rate rose eight points pct the quarter and percentage points pct for the nine months reuter 
earn	agency rent car inc agnc qtr jan net shr cts cts net revs mln mln year shr cts cts net mln mln revs mln mln note share adjusted for stock dividends reuter 
earn	agency rent car agnc sets stock dividend agency rent car inc said its board declared five pct stock dividend payable may holders record may the company also said plans increase the size its rental fleet the year ending january pct and expand its rental office network reuter 
earn	corrected federal paper board fbo payout qtly div cts cts prior qtr payable april record march company corrects amount previous payment march item show there was change reuter 
acq	alcoa sell american powdered metals aluminum america said has signed letter intent sell its american powdered metals subsidiary technology inc for undisclosed terms with completion expected early may american powdered makes metal parts for various industries reuter 
earn	sand technology systems sndcf qtr net ended january shr nil nil net profit loss sales avg shrs six mths shr loss one loss one net loss loss sales mln mln avg shrs reuter 
earn	ryan family steak house ryan sets split ryan family steak houses inc said its board declared three for one stock split payable may holders record may the company said the split subject shareholder approval increase authorized shares mln from mln the april annual meeting reuter 
earn	inertia dynamics trim pay stock dividend inertia dynamics corp said declared pct stock dividend payable may shareholders record april reuter 
earn	csp inc cspi qtr feb net shr one cts net sales half shr eight cts cts net sales reuter 
earn	publishers equipment corp pecn year net shr profit eight cts loss cts net profit loss revs mln mln backlog mln mln reuter 
earn	cavalier homes inc cavh qtr net shr cts cts net sales avg shrs year oper shr cts cts oper net sales mln mln avg shrs note year net excludes dlr tax credit reuter 
earn	colonial commercial corp ccom qtr net shr not given oper net profit loss revs year shr not given oper net profit loss revs note earnings from benefit preferred shareholders until preferred shareholders equity equals exceeds liquidating and mandatory redemption values reuter 
ship	panama canal official confirms toll rise panama canal toll charges will not rise the year end september despite last october landslide which dumped mln cubic yards debris into the waterway canal commission administrator dennis mcauliffe said told press conference that confirming the commission earlier announcement unchanged tolls for was not necessarily implying there would rise the canal would probably make five six mln dlr loss the current financial year but this could carried over and met from next year revenues this year deficit resulted from the landslide which cost the canal about mln dlrs mcauliffe said this included eight nine mln dlrs immediate costs with the rest being spent earth moving operations prevent any further landslides said the landslide was not caused deforestation and described grossly exaggerated reports that there was any threat the canal water supply the foreseeable future studies concerning the possibility widening the gaillard cut would not affected the landslide said adding that expected the canal board determine whether and when the canal needed widening january the latest reuter 
acq	richardson rell buy italian semiconductor firm richardson electronics ltd said agreed buy for undisclosed terms giant electronics brand florence italy based distributor electron tubes and semiconductors reuter 
money-fx	fed says sets billion dlrs customer repurchase agreements 
earn	domtar sets two for one stock split take effect may 
earn	public service pnh omits dividend public service new hampshire said its board voted omit the quarterly dividend which would have been paid may the company said the omission the thirteenth consecutive dividend omission reuter 
earn	rexnord inc rex qtr jan loss shr loss cts profit cts net loss profit sales mln mln note fiscal net loss includes pretax charge mln dlrs from restructuring and after tax charge about seven mln dlrs from debt prepayment premiums fiscal net profit includes pretax gain mln dlrs the sale some land after tax loss mln dlrs from discontinued operations and after tax gain mln dlrs from change accounting all results restated exclude five businesses divested part the company restructuring program reuter 
earn	carson crn cites impact tax reform act carson pirie scott and said the tax reform act which repealed investment tax credits had negative impact cts share earnings for the year ended january earlier carson reported yearly per share earnings dlrs down from dlrs year ago average shares increased mln from mln year earlier sales gained billion dlrs from billion dlrs carson said was extremely optimistic about improved profit performance said the first half hopes reduce seasonal type losses sustained the first and second quarters the company said that early april its oak brook hills hotel and conference center suburban chicago will open under its management provisions for startup expenses have been made added reuter 
earn	domtar plans two for one stock split domtar inc said plans two for one stock split take effect may the company said shareholders will asked approve the split the annual meeting april domtar said its directors believe the split could favorably affect marketability the shares and encourage wider distribution the shares have been trading recently range dlrs domtar stock was previously split two for one basis june reuter 
acq	financial performance fpcc pursues expansion financial performance corp said continued its rapid expansion with signing partnership agreement with gold sierra financial advisors founded former bank america officers capital markets said the agreement under which owns pct the partnership enables move into the mergers and acquisitions business reuter 
acq	fed approves amsouth aso affiliation amsouth corp said the federal reserve board approved the affiliation first tuskaloosa corp with amsouth the approval was the final regulatory step the affiliation process which began august amsouth said under terms the affiliation each first tuskaloosa shareholder will receive dlrs value amsouth stock for each share held the total consideration valued mln dlrs reuter 
acq	independence bancorp inbc completes merger independence bancorp inc said completed its merger with scranton penn based third national bank and trust with assets mln dlrs independence said its combined assets are now billion dlrs the company said that each share third national common will exchanged for shares its common independence said the merger will accounted for pooling interests reuter 
earn	riverside group inc rsgi qtr shr cts cts net mln mln revs mln mln year shr cts dlrs net mln mln revs mln mln note net includes mln dlrs gain disposal unit includes operations dependable insurance gruop inc reuter 
earn	industries ltd qtr feb net oper shr loss two cts profit three cts oper net profit dlrs profit revs mln eight mln note dividends preferred shares dlrs dlrs oper net excludes gains tax loss carryforward dlrs dlrs reuter 
acq	corroon and black cbl completes acquisition carroon and black corp said completed the acquisition poggi harrison agency inc and risk control inc terms the acquisitions were not disclosed separately carroon said also completed the acquisition rosskopf rapp and schmidt insurance agency based monte calif reuter 
earn	tultex ttx increases dividend qtly div nine cts eight cts prior payable july one record june reuter 
acq	benetton italy sees expansion acquisitions benetton spa italy expects further diversify into financial services and weighing possible acquisitions benetton spokeswoman here said are thinking diversification outside the retail line the spokeswoman said are looking financial services and other manfacturing companies however she said the company was not targeting the for its planned expansion but was looking number different countries the company shares are traded the american depository receipts which were issued through offering morgan stanley group inc earlier this month benetton now holding talks with wall street firms about the possibility receiving quotation its shares the new york stock exchange there absolutely timetable may not even happen the spokeswoman said she also denied reports that the company was considering issue convertible bonds with warrants the not thinking issuing bonds she said line with its planned global expansion efforts benetton also holding talks with the soviet union explore the possibility opening stores the country but the spokeswoman pointed out that many companies are holding talks with the soviets are discussions and are looking forward some response she said she added the company had firm timetable when response might received reuter 
earn	tultex corp ttx qtr feb shr cts cts net mln mln revs mln mln note reflects two for one stock split effective july reuter 
earn	federated fin savings fedf initial payout federated financial savings said declared initial quarterly dividend cts share april record april this the first dividend paid federated since its conversion stock company from mutual jan reuter 
acq	rexnord rex sees may merger with banner bnr rexnord inc said expects merge with wholly owned subsidiary banner industries inc early may late last month banner said completed tender offer for and held pct rexnord common shares reuter 
earn	burke parsons bowlby corp sets regular payout qtrly div three cts three cts prior pay may record april reuter 
acq	warburg begins tender offer for symbion symb symbion inc said warburg pincus capital began tender offer purchase mln shares about pct symbion shares dlrs per share warburg already owns about pct symbion symbion has shares outstanding the company makes artificial hearts symbion said its board and management are carefully reviewing the offer and before march will advise its shareholders whether accepts rejects the offer the tender offer successful warburg wll own about pct symbion reuter 
earn	seagram ltd year shr dlrs dlrs 
earn	air liquide airp year ended dec parent company net profit mln francs mln dividend francs same note company said the dividend would apply shares issued under capital increases during this means pct rise total dividend payments mln francs results from mln the previous year reuter 
acq	solar systems ssdn inkey spain set pact solar systems sundance inc said agreed buy pct interest company that will sell condoms produced inkey spain said spermicide used inkey condoms contains ingredient that may help prevent the sexual transmission aids the ingredient was cited article the west german publication aids forschung but said the article was about the ingredient and did not mention the spermicide the condoms made inkey the company also said changing its name eurocapital corp shortly solar systems said was buying the pct stake based europharmaceutical inkey and affiliate own the remaining shares the company which was set distribute condoms and vaginal products that are made are being developed inkey the agreement calls for two mln dlr payment inkey for the distributorship the first dlr payment due days after the products are approved the food and drug administration said europharmaceutical plans soon file with the fda market the condom but expects the approval process lengthy one the company said the active ingredient the spermicide currently used the antiseptic applications unrelated condoms far knows the ingredient has not been tested spermicide inkey condoms will sold the under the brand name carlton the exclusive distribution contract for the products runs for three years and renewable for one year periods the company said said the condoms are currently sold spain but have not gone sale other european countries said europharmaceutical currently does not have the resources make the payments under the distribution agreement fund the studies necessary obtain marketing approval from the fda the company also said europharmaceutical talks acquire either one more publicly held companies with little assets the event acquisition goes through solar systems interest europharmaceutical would diluted below its current pct reuter 
earn	modulaire industries modx qtr loss shr loss cts profit cts net loss profit revs mln mln year shr profit cts profit dlrs net profit profit revs mln mln avg shrs note per share date adjusted reflect pct stock dividend march reuter 
earn	seagram ltd year jan net shr dlrs dlrs shr diluted dlrs dlrs net mln mln sales billion billion avg shrs mln mln note funds net includes equity earnings pont mln dlrs mln dlrs and dividend income from pont shares mln dlrs mln dlrs latest year net includes pretax charge mln dlrs from sale wine operations and reorganization spirits operations and related reduction tax expense mln dlrs reuter 
earn	air products and chemicals inc apd payout qtly div cts cts prior pay may record april three reuter 
earn	stevens and stn payout qtly div cts cts prior pay april record april three reuter 
earn	tie telecommunications canada ltd qtr net oper shr one six cts oper net revs mln mln year oper shr cts cts oper net revs mln mln note previous oper net excludes dlrs extraordinary expenses for qtr and dlr gain for year tie communications inc tie holds pct interest reuter 
earn	peoples savings bank pebw raises quarterly qtly div cts cts prior pay april record april one reuter 
earn	dep corp depc qtr jan net shr three cts cts net sales mln six mths shr cts cts net sales mln mln reuter 
earn	federal signal corp fss regular dividend qtly div cts cts previously pay june two record may reuter 
earn	state street boston corp stbk sets quarterly qtly div cts cts prior pay april record april one reuter 
earn	marsh and mclennan cos inc mmc sets quarterly qtly div cts cts prior pay may record april six reuter 
earn	john wiley and sons inc willb sets quarterly qtly div class cts cts qtly div class cts cts pay april record april three reuter 
crude	api says crude oil ouput off from year ago the american petroleum institute said that crude oil production february declined pct from year ago levels about mln barrels day its monthly report oil supplies and stocks api said that domestic demand for petroleum products measured products supplied continued rise reaching mln barrels day the month pct from february api noted the drop crude oil output coupled with drop natural gas liquids production which was off pct from february levels represented decline production more than one mln barrels day api said the decline domestic production and the rise demand brought petroleum imports about six mln barrels day february pct increase from last year level far this year api said growth domestic demand which was pct from last year year date level has slowed comparison the accelerated growth the last half said crude oil production for the first two months was off pct from the comparable year ago period while crude imports were pct reuter 
acq	prime medical pmsi says merger talks end prime medical services inc said merger talks with national hmo corp nhmo have been terminated prime gave reason for the termination the talks with national hmo reuter 
earn	first federal savings bank montana ffsm div qtly div seven cts seven cts prior payable april record april three reuter 
earn	ccr video corp half feb net shr profit cts loss one net profit loss sales note current year net includes dlr gain from debt extinguishment reuter 
acq	investment group has moore handley mhco stake group new york investment companies told the securities and exchange commission they have acquired shares moore handley inc pct the total outstanding common stock the firms robert barker and barker foundation quaker hill associates upland associates and james barker trust said they bought the stock for two mln dlrs soley for investment purposes but the group said might buy more moore handley shares reuter 
interest	german banks see low interest rates continuing the association german cooperative banks said financial survey that domestic interest rates would continue remain low for the time being said the bundesbank could hold them down despite strong foreign influence and saw interest straining factors the economy that could affect the long term capital market the inflation rate one pct also gave occasion for higher nominal interest rates but probable rise inflation late this year could give very slight grounds for rise nominal rates year end and next year said the association said generally low interest rates prospects lower taxes stable dollar rate and expected strong domestic demand led believe that the investment climate would remain friendly and the economy would continue its slow but very sure growth the bundesbank had managed successfully keep interest rates down the short term money market although its policies had exerted little effect the long term capital market which was important for investment financing and thus for the course the economy said view the limits the possibilities monetary policy had influencing the longer term capital market the association saw little sense wanting boost the economy through short term and expansionist monetary policy the other hand also saw reason for sticking dogmatically the money supply target for the whole the association said time would show what extent speculative foreign money and short term invested domestic money would distort money supply developments the bundesbank could hold down money market rates with the highly effective instrument sale and repurchase transactions said reuter 
money-fx	fed johnson urges stronger allied growth federal reserve board vice chairman manuel johnson said that the main industrial partners should expand their domestic growth speech women group here johnson said there room for stronger domestic growth those countries strong enough absorb growth export markets johnson also said there was better alignment exchange rates now and the paris agreement stabilize currencies has brought western nations long way towards establishing that goal johnson said the fed supports this pattern exchange rates and see leads convergence trade quite possibly can achieved johnson said the paris agreement achieved better alignment exchange rates exchange for stimulus the major surplus countries said this was major improvement and step the right direction and added allies look very strongly budget deficit cut there will always potential risk breakdown international cooperation without budget deficit cut reuter 
acq	greyhound buys general motors bus unit greyhound corp said has signed definitive agreement buy general motors corp transit bus and parts business for undisclosed sum the agreement tentatively set january includes production tooling design and equipment for urban transit buses inventories and trademark identification the agreement also incudes the right buy canadian transit bus and parts business contingent satisfactory labor agreement greyhound said will relocate the production facilities currently pontiac michigan undetermined location reuter 
earn	excel bancorp xcel sets initial dividend excel bancorp inc said its board declared initial dividend cts per share payable april holders record april six reuter 
acq	mark says does not plan baird batm buy mark industries inc which has said mulling bid seek control baird corp said has present plans acquire more than pct the company total outstanding common stock filing with the securities and exchange commission mark said its top officials told baird executives march meeting that while mark may buy more baird common stock presently intends hold the pct limit mark which first disclosed its stake and interest baird march has reported holds baird common shares pct the total outstanding mark said also agreed the meeting that decides seek control baird would through negotiated merger business combination through tender offer which baird would have least hours notice baird turn agreed not take any defensive measures without giving mark least hours notice said baird also confirmed that takeover defense plan already has which triggered the accumulation more than pct its stock would not triggered tender offer mark said both parties also agreed adjourn pending litigation they have against one another added reuter 
earn	harris teeter properties inc htp sets payout qtly div cts cts prior pay may eight record april reuter 
interest	canada day bills average pct making bank rate pct 
earn	dresser industries sees return profit dresser industries inc said expects the joint ventures has entered into and gradual improvement the energy market allow regain profitability before the end the current year dresser earned dlrs for the year ended october after mln dlr gain from change accounting and pension plan curtailment and mln dlr writedown oilfield assets reuter 
earn	nynex increases qtrly div cts from cts end body 
earn	burnup and sims inc bsim qtr jan net shr profit five cts loss cts net profit loss revs mln mln avg shrs mln mln nine mths shr profit cts loss cts net profit loss revs mln mln avg shrs mln note current year net both periods includes dlr gain from sale property reuter 
earn	aaron brothers art marts inc aarn qtr net qtr ended jan shr cts cts net revs mln mln year shr cts eight cts net revs mln mln reuter 
earn	quaker state ksf arranges mln dlr credit quaker state oil refining corp said signed mln dlr revolving credit and term loan agreement with group six banks for which mellon bank agent the four year arrangement has additional four year term loan amortization agreement quaker said quaker said the credit line will used finance expansion plans quaker total capital spending program for expected exceed mln dlrs said the company capital spending totaled mln dlrs quaker also said costs new store openings and new product introductions will depress earnings the first half for the first half quaker reported net income mln dlrs sales mln dlrs the first two months quaker opened about new stores said expects add minit lube fast lubrication service centers cost mln dlrs the company said optimistic will recover the second half and report higher earnings for full year fiscal the company reported net income mln dlrs sales mln dlrs for reuter 
acq	great gami buy standard srd units assets great american management and investment inc said its pct owned subsidiary agreed buy certain assets two subsidiaries standard oil for mln dlrs and the assumption certain liabilities great american industrial group inc agreed acquire all the and united kingdom assets pfaudler and the stock certain brazilian mexican and west german subsidiaries kennecott mining corp said pfaudler and kennecott are subsidiaries standard oil reuter 
earn	kms industries inc kmsi year net oper shr three cts three cts oper net revs mln mln avg shrs note earnings exclude gains from utilization tax loss caryforwards dlrs three cts share dlrs three cts share reuter 
earn	wickes cos inc qtr shr loss two cts profit cts 
earn	fitness tfit distribution deal fitness inc said has been named exclusive florida distributor for the hardpack version the frozen dessert tofutti tofutti brands inc tof replacing pillsbury psy haagen dazs reuter 
acq	first financial ffmc bids for comdata cdn first financial management corp said has offered acquire comdata network inc for dlrs per share cash and stock total about mln dlrs the company said for each comdata share would exchange half first data share and enough cash bring the total value dlrs per share provided that the market price first financial stock were not less than dlrs per share said the cash payment would based the average market price first financial during period shortly before closing first financial said would not pursue the offer comdata board rejected comdata has already agreed acquired partnership for either dlrs share cash least dlrs cash and uniuts securities the partnership that made the first offer for comdata was welsh carson anderson and stowe comdata had previously entered into agreement which collapsed for repurchase six mln shares dlrs each and for the sale one mln shares director mason best mason best already owns comdata shares group led rosewood financial inc has also disclosed ownership pct comdata mln shares outstanding and said might seek increase its interest over pct the company said comdata shareholder approval would also required for its proposal reuter 
acq	pop radio popx gets rite aid rad pop radio corp said has signed seven year agreement provide rite aid corp with store customized disc jocky hosted radio programs resulting increase more than pct the total number stores pop now has under contract value was not disclosed reuter 
earn	alliance financial corp alfl dividend set qtly div cts cts previously pay april record march reuter 
earn	nynex nyn increases qtrly cash dividend nynex corp said raising its quarterly dividend cts from cts payable may shareholders record march the company said this was the third consecutive year has raised its quarterly cash dividend added had two for one stock split may reuter 
acq	vulcan vul withdraws jones vining jnsv bid vulcan corp said was discontinuing its efforts negotiate purchase the common stock jones and vining inc february vulcan cincinnati maker shoe lasts and other products offered five dlrs share for all jones and vining common subject certain conditions vulcan said dropping the proposal because believes subsequent actions jones and vining are hostile and vulcan only interested friendly transaction jones and vining makes shoe lasts and shoe components has about mln shares outstanding reuter 
acq	tempo tpo sell cable systems eagle tempo enterprises inc said signed letter intent sell seven cable television systems representing about subscribers eagle cable terms the acquisition were not disclosed reuter 
acq	erbamont erb acquires antibioticos erbamont said its major shareholder montedison spa which owns pct its common and farmitalia carlo erba its pct owned subsidiary have acquired antibioticos and related subsidiaries terms the acquisition were not disclosed reuter 
crude	cross field prt relief favours smaller fields the cross field allowance relief petroleum revenue tax prt announced chancellor the exchequer nigel lawson this week will favour smaller non prt paying fields according stockbrokers wood mackenzie and the cross field allowance offsets pct qualifying spending new oil field against prt liability other fields restricted new offshore developments outside the southern basin and yet gain annex approval report the stockbrokers said that new field not paying prt due its small size the relief would directly benefit prt saving existing field the cross field allowance will mainly benefit participators those fields which have prt liability the report said adding that the timing development such fields may advanced the government would effect subsidising these developments pct capital expenditure before corporation tax the report said fields likely pay prt the future the benefit timing although liabilities other existing fields will reduced immediately liabilities larger new fields will rise the future due the loss offsets said study probable fields the report said that when the rates return are examined the rise for prt paying field such miller the largest undeveloped oil field the north sea from pct while the rise for small non prt paying field such kittiwake pct the report added that fields which pay prt there will cost being able have this early relief not only will these costs unavailable for offset against the field future profits but uplift some pct these costs will lost thus saving prt when field development starts will have matched rise prt later time reuter 
earn	alden electronics adnea sets lower dividend alden electronics inc said its board declared annual dividend cts per share class and common stock down from cts last year due expected drop earnings for the year ended march the dividend payable april holders record april alden earned dlrs last year reuter 
earn	wickes cos inc wix qtr loss shr loss two cts profit cts net loss profit sales billion mln avg shrs mln mln year shr profit cts profit cts net profit profit sales billion billion avg shrs mln mln note current qtr and year figures include gains securities sales mln dlrs and mln dlrs respectively prior qtr and year figures include gain securities sales mln dlrs current qtr and year figures include extraordinary loss dlrs and gain mln dlrs respectively prior qtr and year figures include operating loss carryforward gains mln dlrs and mln dlrs respectively prior qtr and year figures include gains from discontinued operations mln dlrs and mln dlrs respectively reuter 
acq	azure ventures buy advertising unit azure ventures ltd said signed letter intent acquire john paul richards and associates inc the company said the merger approved shareholders both companies the shareholders john paul richards would become majority shareholders owning pct the common stock the new public company reuter 
earn	scott scot declares first payout scott and stringfellow financial inc said declared its first quarterly dividend three cents per share payable april shareholders record april one reuter 
earn	texas commerce tcb sees improvement texas commerce bancshares inc said that relatively stable oil prices and the bank planned merger with chemical new york corp chl would help earnings increase from last year profits mln dlrs texas commerce chairman ben love interview with reuters did not elaborate how much the bank expected earnings increase would anticipate that this year would improvement over last because are stronger love said referring texas commerce pending billion dlr merger with chemical the merger which may finalized early may will lower texas commerce cost funding estimated basis points love said the texas commerce chemical merger the only acquisition major out state bank since texas lawmakers approved interstate banking effective january hard hit loan losses energy and real estate texas struggling economy the only major texas banks able report profits were texas commerce and republicbank which earned mln dlrs allied bancshares inc albn lost mln dlrs mcorp lost mln dlrs interfirst lost mln dlrs and first city bancorporation fbt which actively seeking merger other form new capital lost mln dlrs love said texas commerce had turned the corner its energy loan portfolio problems but added that the bank nonperforming real estate loans may increase during think the tidal wave energy has passed over said the fact that the real estate market still moving away suggests there could some continuing growth nonperforming loans about pct texas commerce net loan losses related real estate lending and pct was due energy loan losses that compares when only pct the bank losses were real estate and energy accounted for pct more than half texas commerce nonperforming loans which totaled mln dlrs yearend from mln dlrs the year before were real estate love said believed the real estate loan problems for texas commerce and other major state banks would peak the third fourth quarter absorption empty office buildings houston which has current vacancy rate about pct will gradual process that could take four years said think may beginning stabilize this economy oil dlrs barrel brings much more confidence than dlrs barrel said texas commerce will retain its name separate subsidiary chemical and plans aggressively expand its holdings throughout texas offering additional products build its consumer banking business love said are resuming what did best for years offensive position said january texas commerce acquired failed bank montgomery county adjacent the houston metropolitan area and earlier this month opened new bank san antonio texas commerce plans add more banks san antonio and the dallas fort worth area where currently has only member banks said one day after the texas commerce acquisition was announced december interfirst corp ifc and republicbank corp rpt both headquartered dallas agreed merge deal valued mln dlrs the combination former archrivals republicbank and interfirst giving the two banks virtual lock the dallas banking market has not changed texas commerce expansion plans for the state second largest city love said think can try get little part their roost said the chemical partnership will also give texas commerce edge developing new consumer products said have always been wholesale bank but have more than one million customers all over the state chemical will show how take advantage enhancing our consumer products said referring expansion such existing products credit cards and investment banking reuter 
acq	odyssey filmpartners odyy drops merger talks odyssey filmpartners ltd said terminated discussions acquire united color labs pursuant jan letter intent for buy the company for stock and cash reuter 
earn	brown transport btci sees record net brown transport said expects report record results with revenues increasing mln dlrs and earnings per share between dlrs and dlrs brown reported net income dlrs per share mln dlrs revenues mln dlrs last week the company declared initial quarterly dividend four cts the company said will begin paying regular quarterly dividend the second quarter but the board has not yet determined the exact amount reuter 
earn	bombay cury bases growth location costs bombay palace restaurants inc with its emphasis location and low food costs expects its sales increase pct about mln dlrs from about mln dlrs according president sant chatwal chatwal told members the dallas financial community lunchtime briefing for prime locations everywhere and make sure our leases are very favorable previously announced the company expects report earnings about dlrs cts share revenues mln dlrs chatwal said the final figures would released about two days reuter 
earn	ameritrust amtr proposes for stock split ameritrust corp said its board proposed two for one split its common subject stockholder approval its may annumal meeting the company also said intends recommend increase its annual regular dividend least two dlrs per share before the split beginning with the may dividend the current annual payout dlr per share ameritrust currently has about mln shares outstanding with mln authorized shares said shareholders will asked approve increase authorized common mln shares ameritrust also said will submit for shareholder approval amendment the company charter regarding liability and indemnification directors and recommendation create classified board ameritrust total year end assets were over billion dlrs reuter 
earn	first federal michigan ffom dividend hike qtly div cts cts previously pay may record april reuter 
acq	united jersey banks ujb merge two banks united jersey banks said plans merge two its southern new jersey member banks into one mln dlr organization said united jersey bank fidelity bank based pennsauken will merged into united jersey bank south order improve customer service and maximize efficiency throughout the southern new jersey markets raymond silverstein currently chairman the board united jersey bank fidelity will chairman the merged bank the company said reuter 
earn	heldor industries hldr qtr loss qtr ends jan shr loss cts loss cts net loss revs note qtr includes tax gain for insurance claims qtr also includes non recurring expense for discontinued operations and consolidation four distribution service centers reuter 
acq	talking point american express axp american express plan sell stake its shearson lehman brothers believed prelude public offering shares the brokerage unit analysts said american express earlier said has general understanding with nippon life insurance japan sell pct interest shearson for mln dlrs the statement triggered rise other brokerage stocks investors speculated the possibility more investment the brokerage industry japanese concerns the stocks brokerage firms also climbed response the relatively high value nippon put its stake the firm analysts said the mln dlrs for pct represents price times book value perrin long lipper analytical said the brokerage stocks depressed somewhat the dark cloud the insider trading scandal closed out february market value times book value american express was trading today off for the last several weeks the stock has been strong rumors spinoff part shearson analysts said american express and its shearson unit will benefit from the doors nippon life can open the increasingly important tokyo financial markets think this all honesty preliminary step said long what you will see probably the future american express selling additional pct the public market and have public vehicle for shearson long said normally investors not make major capital commitment into illiquid situation said nippon some analysts previously speculated pct stake shearson might sold the public they said the firm like other investment banks needs capital expand globally american express has said the total employees shearson will expand pct internationally however that number substantially lower than growth last year company spokesman said american express officials would not comment beyond statement made this morning that statement however did not close off the possibility public offering other option for shearson david anthony smith barney analyst said possible shearson would partially sold the public but believes the firm will digest the nippon investment first think they figure out what they going with the money they have said joan goodman analyst with pershing and also said american express could determine sell shares the public its statement the financial services giant said continuing study various plans for shearson addition the investment nippon american express said options under study range from expanding shearson capacity meet international competition broadening its access capital american express also said the options reflect the continuing integral role shearson american express worldwide financial services strategy shearson follows goldman sachs and finding japanese partner goldman last year sold pct stake sumitomo bank exchange for mln dlr capital infusion analysts speculated there will more such matches those brokers companies have the expertise they don have the money there just not enough internal capital growth said wertheim analyst james hanbury who follows other brokerage companies hanbury said some japanese companies flush with cash are interested the expertise american brokers those japanese companies have the capital and our companies have the capital needs and the growth opportunities use the money that nice marriage said morgan stanley and rose first boston corp fbc was one hutton group efh rose and painewebber group pwj climbed merrill lynch and recommended today painewebber analyst rose reuter 
money-fx	italian panel urges exchange liberalization liberalization italy foreign exchange controls should gradual but also reasonably rapid report issued study committee nominated the italian treasury ministry said the report looking the country financial development prospects said italy large public sector deficit and growing public debt were among the considerations that made gradual liberalization preferable the report also favoured retention the lira six pct oscillation band with the european monetary system ems during the liberalization process order lessen short term domestic interest rate fluctuations which could result from portfolio adjustments the lira fluctuation margin currently significantly higher than that allowed for other ems currencies italy has over recent months announced series deregulation moves response european community directive aimed creating genuine common market goods services and finance reuter 
earn	pension insurance group pgai qtr net shr profit two cts profit two cts net profit profit revs mths shr profit four cts loss two cts net profit loss revs note full name company pension insurance group america inc reuter 
earn	sea containers ltd scr qtr loss shr loss dlrs loss cts net loss mln loss revs mln mln mths shr loss dlrs profit dlrs net loss mln profit mln revs mln mln avg shrs reuter 
acq	ambassador financial afgi unit buy builder ambassador financial group inc said its ambassador real estate equities corp agreed buy heritage quality construction inc ambassador said its unit would purchase pct heritage stock for initial payment approximately dlrs and subsequent payments cash over five year period equal pct the net after tax profit heritage the acquisition consummated ambassador said agreed contribute dlrs the existing capital heritage reuter 
earn	royal gold and silver corp qtr net ended january shr profit two cts loss one net profit loss sales nil note includes gain dlrs from sale reuter 
earn	stevens and inc stn sets payout qtrly div cts cts prior pay april record april reuter 
earn	quebec caisse earns three billion dlrs caisse depot placement quebec the government agency which manages the province pension funds said its investment portfolio earned net profit almost three billion canadian dlrs increase mln dlrs over the agency said its annual statement that had assets with total book value billion dlrs market value billion dlrs the end these holdings had rate return pct the year which was below the caisse average return pct the past four years and pct the past eight years the caisse said foreign equity investments represented pct total assets while government securities accounted for another pct the overall portfolio the agency holding government securities yielded return pct for the year significantly more than either the pct earned the total bond portfolio the pct for all funds under management these high liquidity securities which are held temporary basis and for purposes strategy and the protection the overall bond portfolio have been efficient the agency said the securities the agency said has billion dlrs invested canadian private sector businesses after channeling mln dlrs new funds into this area the caisse said acquired mln new government quebec bonds and mln dlrs new securities from other quebec government issuers during the year reuter 
earn	asea group aseay sees flat earnings asea group the diversified industrial concern based vasteras sweden said expects earnings after financial income and expense flat compared with when earned billion swedish crowns mln dlrs company spokesman said results were boosted significantly the booking two large orders for nuclear power plants this gain said will balanced return profitability asea power transmission segment which had loss mln crowns mln dlrs last year currency conversions were made crowns the dlr the spokesman said the company has built strong backlog orders that will contribute earnings and beyond yearend asea order backlog stood billion crowns billion dlrs from billion billion dlrs the end asea has operations power generation and transmission transportation equipment pollution control and robotics total sales were billion crowns billion dlrs reuter 
earn	butler national corp butl qtr jan shr profit nil loss one net profit loss revs nine mths shr profit three cts profit five cts net profit profit revs reuter 
acq	fcs fcsi receives merger proposal fcs laboratories said its investment banker butcher and singer inc received preliminary merger proposal from another company the healthcare field fcs said that various aspects the proposal are better defined its board may consider fcs said merger negotiations with this other company have been continuing since late august reuter 
earn	art way manufacturing artw qtr net shr profit cts loss cts net profit loss sales nine mths shr profit dlrs loss cts net profit loss sales mln note fiscal net profit includes tax credits dlrs the quarter and dlrs the nine months periods end february and respectively art way manufacturing inc full name company reuter 
earn	pse inc pow qtr shr loss cts profit cts net loss mln profit revs mln mln year shr loss cts profit five cts net loss mln profit revs mln mln reuter 
earn	wardair international ltd year net shr dlrs dlrs net revs mln mln note current net includes gain dlrs share disposal assets ward holds pct voting interest reuter 
earn	sea containers scr expects better first qtr sea containers ltd predicted its first quarter fiscal net earnings would improve mln dlrs over the same period year ago the company said got off much better footing than fiscal from which the company recorded loss mln dlrs dlrs per share revenues mln dlrs james sherwood president the company said expects record loss approximately mln dlrs for the first quarter compared losses approximately mln dlrs for first quarter fiscal the company emphasized the first quarter traditionally slow period for the ferry industry which part sea containers business sherwoood said the company losses were largely attributable non recurring events and provisions cited the default container leasees and ship charterers costing the company approximately mln dlrs also cited mln dlr cost result closing two its subsidiary ferry services and mln dlr provision cover losses the sale container assets and severance pay costs reuter 
earn	first interstate estimates brazil risks first interstate bancorp said its pre tax income could reduced about mln dlrs decides reclassify its mln dlrs medium long term loans brazil nonperforming but the company stressed filing with the securities and exchange commission that believes too soon reclassify the debt despite brazil feb suspension direct interest payments medium and long term loans the corporation believes that premature make decsion classify such medium and long term debt nonperforming this time first interstate said but first interstate said that brazil suspension interest payments continues may have reclassify its loans nonperforming and place them non accrual meaning that interest previously accrued but not paid would deducted from net income and interest would longer accrued besides its medium and long term debt first interstate said also has mln dlrs short term loans trade lines brazil dec nonperforming brazilian outstandings were about mln dlrs said reuter 
earn	american home shield corp ahsc qtr net shr profit cts profit cts net profit profit revs mln mln mths shr profit cts loss one cts net profit profit revs mln mln note revenues figure shows contract revenue not gross contracts written fourth quarter and full year includes extraordinary gain dlrs and dlrs respectively from tax loss carryforwards per share figures come after preferred dividend requirements reuter 
earn	triangle home products inc thp qtr loss shr loss cts loss cts net loss loss sales year shr loss cts loss five cts net loss loss sales mln mln reuter 
acq	tri star trsp buys cineplex theater tri star pictures inc said agreed acquire the roosevelt field century theatre from canada cineplex odeon corp rko century warner theatres inc for mln dlrs the recently refurbished and expanded theater located garden city reuter 
earn	frank hall and inc fbh qtr loss oper shr loss cts loss cts oper net loss loss revs mln mln year oper shr loss cts profit cts oper net profit profit revs mln mln note excludes discontinued operations loss dlrs share dlrs share the quarter and loss dlrs share loss dlrs the full year fourth quarter includes reserve nine mln dlrs for operations company plans sell per share figures come after preferred dividend requirements reuter 
earn	weisfield inc weis qtr net shr dlrs dlrs net revs mln mln year shr dlrs dlrs net revs mln mln reuter 
earn	norris oil noil dec year loss shr loss dlrs loss cts net loss loss revs avg shrs note current year loss includes mln dlr writedown oil and gas properties under full cost accounting method reuter 
acq	dorsey dsy completes sale unit dorsey corp said completed the sale substantially all its dorsey trailers inc subsidiary assets trailer acquisition corp whose stockholders include former dorsey vice president and several executives the dorsey trailers management team terms the acquisition were not disclosed reuter 
earn	napco international npco qtr oper net oper shr cts dlrs oper net revs year oper shr cts dlrs oper net revs note operating net for the quarter and year excludes loss the disposal certain businesses mln dlrs and loss from discontinued operations dlrs the quarter and dlrs the year operating net for the quarter and year includes pretax gain nine mln dlrs from the sale two divisions and loss from discontinued operations dlrs the quarter and mln dlrs the year napco international inc full name company reuter 
earn	national bancorp inc nibca year end loss oper shr loss dlr oper loss dlrs note prior year results are not available company completed its public offering april reuter 
earn	bachelor lake gold mines inc year loss shr loss seven cts loss cts net loss loss revs mln mln reuter 
acq	soros lifts king world kwp stake pct new york investor george soros and investment fund controls said they raised their stake king world productions inc shares pct the total outstanding from shares pct filing with the securities and exchange commission soros said his group bought net king world common shares between jan and march prices ranging fropm dlrs share reuter 
acq	cineplex odeon buying coke cinema unit cineplex odeon corp said agreed principle acquire the walter reade organization inc new york cinema chain from coca cola entertainment holdings inc unit for mln dlrs cineplex said the purchase price consisted mln dlrs cash and cineplex common shares the transaction subject fulfilment certain unspecified conditions and regulatory and board approvals walter reade operates screens eight manhattan locations reuter 
earn	summit resources ltd year net shr not given net revs mln mln reuter 
earn	goulds pumps inc guld sets regular payout qtly div cts cts prior pay april record april three reuter 
acq	henkel increase stake clorox clx clorox said henkel kgaa dusseldorf west germany agreed increase its holdings clorox pct from the current level pct henkel which also holds subordinated note convertible into another pct the company stock intends acquire the additional shares the open market over extended period time clorox said also said that for the foreseeable future henkel does not intend increase its participation clorox above the pct level reuter 
earn	sigma mines quebec ltd qtr net shr cts five cts net revs year shr cts cts net revs mln mln reuter 
trade	official faults trade bill sir roy denman head the delegation washington said pending trade legislation misguided attempt deal with the nation trade deficit and will spark retaliation passed its present form think that you can deal with trade deficit legislation mistake told the foreign trade association here denman told reporters that possible retaliation which warned letter house ways and means committee chairman dan rostenkowski would not necessarily product for product basis retaliation does not have matched product product denman said said the case textiles import restrictions however retaliation would against textile exports certainly restrictions were imposed european exports textiles the the community would likely retaliate with restrictions textile exports europe denman said also took exception proposals require countries with large current account surpluses with the cut those surpluses face special tariffs this would conflict with international obligations throw large wrench into the current round trade negotiations and could easily boomerang warned the tariff proposals denman also took exception efforts seek reciprocity specific trade sectors forcing reciprocity one sector imposing barriers would simply lead retaliation from the other party said adding that overall reciprocity can only achieved trading off disadvantages one sector for advantages another reuter 
earn	frank hall fbh earnings report qualified frank hall and inc said its independent accountants will issue qualified report its financial statements the company said the opinion the result ongoing litigation over its discontinued operations earlier said lost mln dlrs the fourth quarter against loss mln dlrs year ago before discontinued operations also said decided sell its claims adjusting and admininistrative operations and its automobile dealer insurance unit creating reserve about nine mln dlrs the fourth quarter for the sale the company said will vigorously defend the litigation arising from the discontinued units also said will concentrate its direct brokerage and service business reuter 
acq	intermark imi seeks majority pier pir stake intermark inc which together with one its subsidiaries already holds pct stake pier imports inc told the securities and exchange commission plans acquire majority the company voting stock intermark said already holds pier common shares pct and its pier holdings inc holds shares pct intermark said also has shares pier preferred stock pct the outstanding while pier holdings has shares pct reuter 
earn	electro scientific esio qtr feb loss shr loss cts nil net loss profit sales mln mln nine mths shr loss cts profit cts net loss profit sales mln mln electro scientific industries reuter 
acq	josten jos sell unit careercom crcm josten corp said agreed sell its proprietary school business careercom corp for mln dlrs cash and about mln careercom common shares upon completion the proposed transaction josten will own pct careercom stock which intends hold for investment purposes said proprietary school sales totaled about mln dlrs and accounted for less than pct josten total revenue added reuter 
earn	nrm energy nrm sets regular payout qtly cash distribution five cts five cts prior pay april record march reuter 
earn	motel six sets cash distribution qtly cash distribution cts cts prior pay may record march note prior quarter dividend was initial payout based operations for partial fourth quarter reuter 
acq	group has pct atlantic research atrc group led halcyon investments new york securities and risk arbitrage partnership said has acquired shares atlantic research corp pct the total outstanding common stock filing with the securities and exchange commission the halcyon group said bought the stake for mln dlrs for specific purpose the group said has plans seek control atlantic research which has been sought clabir corp clg but said may buy more stock sell some all what has reuter 
earn	ultrasystems inc uls qtr net shr cts cts net revs mln mln year shr cts cts net revs mln mln note current year figures include mln dlr writedown costs and investments associated with ethanol refinery project reuter 
acq	tag group cut valero energy vlo stake investor group told the securities and exchange commission plans cut its stake valero energy corp shares pct the total outstanding from shares pct the group led tag group luxembourg said filed with the sec feb notice that proposes sell shares valero energy common stock reuter 
earn	western tele communications wtlca qtr net oper shr cts cts oper net revs mln year oper shr dlrs dlrs oper net mln mln revs mln mln note oper net excludes loss from discontinued operations dlrs gain dlrs for qtr and gain dlrs gain dlrs for year note full name western tele communications inc reuter 
crude	ecuador gets loan help repair oil pipeline the andean development corp caf said today lending mln dlrs ecuador help repair miles oil pipeline destroyed earthquake earlier this month the loan was signed here today the offices the caracas based caf the corporation president galo montano perez and ecuadorean ambassador antonio parra gil the loan had originally been intended finance expansion the pipeline but following the earthquake the ecuadorean government asked for the terms changed permit their use reconstruction ecuador expects oil production suspended for four months result the damage and has asked venezuela help supplying barrels per day while the pipeline repaired the opec member has production quota bpd but has asked the organization allow produce bpd once the repairs are completed compensate the loss reuter 
acq	harmon hrmn buy recycling firm for cash harmon industries inc said signed letter intent acquire for about mln dlrs majority the stock snp inc portland oregon based company which has patents reprocess used railroad ties into new ties for resale reuter 
earn	santa energy partners sfp qtly payout qtly cash distribution cts cts prior pay may record march reuter 
ship	says signal being sent ship movements navy battle group led the aircraft carrier kitty hawk the northern arabian sea amid renewed concern about the safety shipping off the coast iran officials said today but pentagon spokesman fred hoffmann said that reports the naval strike force was the region did not mean the united states was sending new warning iran against escalating attacks shipping the persian gulf nothing like that has happened said signal being sent said that the kitty hawk operating area where usually does normal the waters where supposed been there for over month the kitty hawk and its force warplanes the mainstay the indian ocean battle group which patrols vast area extending from the indian subcontinent through the arabian sea with the kitty hawk and its group the arabian sea the south and the mideast task force the persian gulf the north the united states has warships either end the strategic straits hormuz the pentagon its custom declined confirm the exact whereabouts the ships what they were state department officials cited concern about the safety ships passing through the straits the vital oil supply run the gulf iran has conducted repeated attacks shipping the gulf and officials have said that teheran has recently equipped itself with powerful chinese and italian made anti ship missiles posing greater threat reuter 
acq	bayou international buys stake solomecs bayou international ltd said purchased one third the outstanding stock solmecs corp netherlands antilles corporation for dlrs bayou said will also receive two seats solmecs board bayou ltd pct owned australia wide industries ltd solmecs develops technology relating energy conversion reuter 
earn	micropro international corp mpro qtr net quarter ended feb shr four cts seven cts net revs year shr four cts cts net revs mln mln reuter 
earn	explosive fabricators inc qtr jan net net revs reuter 
earn	laser lser sees impact from suit earnings laser corp said that costs associated with its defense two shareholder lawsuits could result net loss for although laser expects post earnings from operations for the year spokesman said they might wiped out legal costs depending the length litigation addition the company said will ask shareholders approve proposals merge the company into its main subsidiary reincorporate delaware and change the company name reuter 
earn	pension insurance group pgai qtr shr profit two cts profit two cts net profit revs mln mln year shr profit four cts loss two cts net profit loss revs mln mln note net includes realized investment gains dlrs year qtr and year includes realized investment gains and dlr respectively reuter 
earn	transamerica corp quarterly dividend qtly div cts cts pay april record april reuter 
earn	southern california edison sce qtly div qtly div cts cts pay april record april reuter 
earn	comprehensive care corp cmph quarterly div qtly div nine cts nine cts pay may record may reuter 
earn	great western savings bank gwsb quarterly div qtly div cts cts pay april record april reuter 
trade	senate wants japan semiconducter pact enforced the senate has unanimously called for president reagan immediately force japan live pledge stop dumping its microchips and open its markets chipmakers the senate voted urge reagan impose penalties japanese high technology products containing semiconductors retaliation for what sees japan violations the semiconductor pact while the measure does not bind reagan any action senate leaders said its adoption would warn japan stiffer legislation would considered the violations continue want send message japan let know how the senate feels about this matter senate democratic leader robert byrd told the senate senate finance committee chairman lloyd bentsen told the senate the measure was not aimed retaliation but correcting japan unfair trade practices key house trade lawmaker representative richard gephardt also announced would seek force japan and other countries with huge trade surpluses slash their surplus pct year for three years reuter 
crude	reagan says must more lessen reliance foreign oil 
crude	reagan says needs lessen oil imports president reagan said the united states must more lessen its reliance imported oil president reagan said during nationally televised news conference that the rising reliance foreign oil problem that the administration studying have study this more reagan said this why increased the strategic petroleum reserve but have more said reagan said his administration has already proposed deregulating natural gas and eliminating the windfall profits tax crude oil production however complained that congress had not yet approved those measures the department energy earlier this week released report that warned rising reliance foreign oil imports time when domestic production declining suggested options for the administration consider but made specific recommendations reuter 
trade	taiwan export orders fall february export orders for taiwanese products fell pct billion dlrs february from billion january but rose nearly pct from billion year earlier economic ministry official said attributed the fall the rising taiwan dollar february orders for electric and electronic goods were mln dlrs from mln january and mln february garment orders were mln dlrs against mln and mln while footwear orders were mln compared with mln and mln reuter 
ship	chinese port underused despite congestion nearby the chinese port ningbo working well below capacity despite being only miles from shanghai which seriously congested port official said jiang feng xiang said the port the deepest china handled mln tonnes cargo last year from mln but well below its potential capacity mln tonnes shanghai handled mln tonnes cargo jiang said ningbo under utilised because its inadequate facilities including single track rail line linking hangzhou where joins the national network ningbo handles crude oil exports and transhipments coal from north south china and imports include fertiliser and soda ash and iron ore from brazil and australia the docks can handle ships tonnes and oil tankers tonnes can load and unload the harbour most ningbo port infrastructure has been built since official publications show container berth and two timber and three general cargo berths will added during the current five year plan jiang said the rail line hangzhou will double tracked maybe will overtake shanghai added reuter 
acq	krung thai bank take over sayam bank the state owned krung thai bank ltd will start taking over state owned sayam bank ltd and complete the process year finance minister suthee singhasaneh told press conference said the takeover decision was made this week stem the current heavy losses sayam and avoid competition between the two state owned institutions the minister said some the existing sayam bank branches will merged with their krung thai counterparts while others will continue operating but under krung thai name sayam bank has existed since august when the finance ministry took over and named the asia trust bank ltd sayam president waree havanonda told reporters last month her bank posted loss more than mln baht the end the bank with billion baht assets was ranked among thailand local commercial banks waree said sayam bank was trying recall about six seven billion baht loans extended its previous private management and was taking legal action collect another four five billion baht doubtful debts krung thai thailand third largest bank reuter 
earn	komatsu ltd komt year group shr yen net billion billion pretax billion billion operating billion billion sales billion billion note company forecast for current year group net billion sales billion reuter 
earn	kirin brewery ltd knbw year january parent shr yen div yen net billion billion current billion billion operating billion billion sales billion billion outstanding shrs mln mln note dividend included two yen bonus dividend mark anniversary company forecast for current year parent shr yen div yen net billion current billion and sales billion reuter 
acq	rainbow and equiticorp place ultramar stake new zealand investment companies rainbow corp ltd and equiticorp holdings ltd have placed the majority their joint shareholding oil and gas conglomerate ultramar plc umar prices stg per share the companies said statement the companies said they had bought their pct stake ultramar for total mln dlrs through joint venture company formed for that purpose october they said the joint venture made profit mln dlrs the deal but they did say how many shares they had sold further details the sale were available reuter 
acq	guinness starts court action against saunders guinness plc guin said has started court proceedings against former chairman and chief executive ernest saunders and non executive director thomas ward for recovery mln stg the money was paid ward via marketing and acquisition consultants ltd jersey guinness said earlier would propose resolution the annual meeting may remove saunders and ward directors the company earlier this month lawyers for ward told jersey court that ward saw the payment his reward for services last year takeover battle for distillers plc guinness has said that both men breached their fiduciary duty authorising the payment saunders resigned from his executive positions guinness january the aftermath government enquiry into share dealings during the battle for distillers but retained his position the board spokesman for guinness was immediately available for comment the statement reuter 
interest	abbey national said cutting mortgage rate pct pct 
money-fx	bank finland will announce new measures the bank finland called news conference gmt announce new measures for the development the system monetary control spokesman for the bank declined give further details banking sources said they expected the bank announce will actively take part the interbank market and buy and sell certificates deposit the state treasury issues government paper with maturity one year the central bank has far not issued its own paper the sources said reuter 
acq	german veba placement said likely early next week the placement the german federal government pct stake utility veba vebg would probably take place early next week banking sources said share dealers said speculation had arisen the early pre bourse market that the veba announcement could come early today but one banking source though confirming that most the details had been worked out said the chances announcement today were about nil had price details the mln shares offer are expected bring cash call germany for well over two billion marks the share was around marks today after drop yesterday reuter 
earn	standard bank unable make earnings forecast standard bank investment corp ltd sprj chairman henri villiers said could not predict profits for the bank this year because south africa continuing political unrest villiers also warned the annual report that failing prompt and decisive political action south africa faces future violent deadlock between different racial and political groupings said south africa future economic prospects are clouded political and social issues and the absence evidence that these are being positively addressed unable offer earnings forecast for standard bank pct owned standard chartered plc stch london previously reported that net income rose pct mln rand the bank said its bad debt losses should begin decline this year although may take some time before they return accepted industry norms the annual report showed that the bank charge for bad and doubtful debts rose mln rand from mln rand the prior year the bank said net income its standard bank south africa subsidiary declined pct mln rand difficult banking environment caused mainly low credit demand reuter 
acq	klm expands talks with british and commonwealth klm royal dutch airways klm said agreed take full control partially owned dutch based parcel delivery service and will offer minority stake british and commonwealth shipping plc bcom klm seeking strengthen its market position the fast growing door door delivery market said agreed with dutch retailer vendex international venn take over vendex pct their jointly owned courier system vof ownership will now brought into the talks started klm last week with british and commonwealth for one third stake the latter iml air services group ltd courier when announcing the negotiations with british and commonwealth last week klm said buying minority stake iml could involve convertible loan issue klm spokeswoman said the dutch flag carrier would now offer minority stake british and commonwealth the negotiations iml but declined elaborate financial aspects the talks she said klm would like the two courier services cooperate future and did not exclude future merger between them combine iml strong world wide network with mainly european activities system based the southern dutch airport maastricht and has annual turnover mln guilders klm which also negotiating with british and commonwealth for pct stake the latter regional airline air ltd says door door delivery courier services are seeing substantially faster growth than traditional cargo activities reuter 
acq	rainbow says brierley upsetting progressive merger rainbow corp ltd said brierley investments ltd bil trying disrupt rainbow planned merger with progressive enterprises ltd rainbow chairman allan hawkins said statement our opinion bil have deliberately tried create anomalies the market prices rainbow and progressive shares since the merger was announced the merger announced february involves the formation new company astral pacific corp ltd which rainbow and progressive shareholders will enter into one for one share basis both boards have approved the merger bil has said was the mystery bidder behind recent stand the market for three mln progressive shares simply regard progressive enterprises shares worth approximately twice much rainbow shares and not think the merger proposed soundly based bil chief executive paul collins said interview the weekly national business review newspaper published today collins was not immediately available respond directly hawkins statement hawkins said the merger has been assessed independent consultants and declared fair all respects with benefits all shareholders are not going stand while other parties distort the picture for their own strategic purposes and distract the market away from the real benefits the merger said our opinion bil actions are clearly not designed the long term interests either progressive rainbow shareholders hawkins said reuter 
trade	taiwan plans mission close trade gap with taiwan leading industrial organisation said will send its first buying mission the later this year effort reduce the country trade surplus with washington spokesman for the chinese national federation industries told reuters the mission was part broader plan switch large purchases the from japan the federation groups all taiwan major industrial associations last year its members purchased about billion dlrs worth industrial products from japan and about billion from the the spokesman said federation members were now discussing the volume business they could transfer america said they had drawn list about industrial products they would shopping for the during the buying mission september but could give figure how much would spent board foreign trade official told reuters the government would send two buying missions america between june and july this year and might send others later taiwan trade surplus with the rose record billion dlrs last year from billion reuter 
acq	newman hawker discuss electric motor merger newman industries plc said was discussing the possible merger its electric motor operations with hawker siddeley group plc hsid brook crompton parkinson motors ltd unit newman has electric motor operations the and australia the company gave further details but said further statement would made shortly newman shares eased one penny the announcement while hawker was unchanged three pence higher last night close reuter 
acq	akzo buys rhone poulenc household units dutch chemical group akzo akzo said agreed take over household product subsidiaries french group rhone poulenc rhon for undisclosed sum under the agreement akzo will acquire the household product activities the lyons based rhodic and remalard based buhler fontaine units rhone poulenc together these activities account for over mln french francs annual sales and employ akzo said akzo will integrate the firms partially joined with its own french activities its consumer products division reuter 
acq	swiss banker wants bond ratings share disclosure top swiss banker called for obligatory continuous rating for all swiss franc bonds and said believed anyone buying more than five pct company should made declare their share comments news conference vontobel holding chairman hans vontobel said believed was the banks own self regulating bodies such the swiss admissions board take such action before governmental bodies stepped decline the average quality borrowers the swiss franc market and debate the use registered shares prevent takeovers have made both major issues among bankers vontobel noted that many borrowers already came the market with ratings from the major agencies which were readily available professionals through specialised information systems should make this classification obligatory and publish places that are easily accessible lay people said the quick changing nature the financial market meant these ratings should also continually updated said vontobel also noted that recent years had seen companies worried about takeovers increasingly issuing registered shares and participation certificates rather than bearer shares however both types issue had drawback said the recent attempt jacobs suchard jacz take over hero conserven lenzburg herz had shown the limits pledge the banks not sell registered shares someone who was not eligible according the company statutes excessive issue participation certificates which not carry voting rights would also contrary the principle greater democracy the new share law before parliament people buying for example more than five pct company shares should made declare their purchase said reuter 
earn	berliner bank suffers losses stuttgart loans berliner bank has suffered losses between and mln marks through credits granted its stuttgart branch officials there exceeding their powers bank spokesman said answer queries the spokesman declined say exactly how large the losses were berliner bank has suspended the three managers its stuttgart branch and continuing investigation into the case which state prosecutors are also participating the fact that powers had been exceeded emerged routine check the branch the city west berlin owns pct berliner bank and the rest held small shareholders reuter 
crude	reagan says needs lessen oil imports president reagan said the united states must more lessen its reliance imported oil president reagan said during nationally televised news conference that the rising reliance foreign oil problem that the administration studying have study this more reagan said this why increased the strategic petroleum reserve but have more said reagan said his administration has already proposed deregulating natural gas and eliminating the windfall profits tax crude oil production however complained that congress had not yet approved those measures the department energy earlier this week released report that warned rising reliance foreign oil imports time when domestic production declining suggested options for the administration consider but made specific recommendations reuter 
crude	trico tro gets chinese contract trico industries inc said has received six mln dlr contract supply hydraulic lift equipment for heavy crude oil production for the chinese ministry petroleum industry the company said the equipment for use the laiohe oilfield miles northeast peking and will equip well program reuter 
earn	micron technology inc dram qtr march five shr loss cts loss cts net loss mln loss revs mln avg shrs mln mln half shr loss cts loss dlrs net loss mln mln revs mln mln avg shrs mln mln reuter 
earn	biosearch medical products inc bpmi qtr shr loss seven cts loss cts net loss loss sales year shr loss cts loss cts net loss loss sales mln mln reuter 
earn	moore financial group inc mfgi sets payout qtly div cts cts prior pay april record april three reuter 
trade	senate wants japan semiconducter pact enforced the senate has unanimously called for president reagan immediately force japan live pledge stop dumping its microchips and open its markets chipmakers the senate voted urge reagan impose penalties japanese high technology products containing semiconductors retaliation for what sees japan violations the semiconductor pact while the measure does not bind reagan any action senate leaders said its adoption would warn japan stiffer legislation would considered the violations continue want send message japan let know how the senate feels about this matter senate democratic leader robert byrd told the senate senate finance committee chairman lloyd bentsen told the senate the measure was not aimed retaliation but correcting japan unfair trade practices key house trade lawmaker representative richard gephardt also announced would seek force japan and other countries with huge trade surpluses slash their surplus pct year for three years reuter 
acq	fleet flt could face connecticut divestiture fleet financial group said might have sell its first connecticut corp subsidiary result its proposed billion dlr acquisition norstar bancorp nor under connecticut banking law new england based bank holding companies such fleet are not allowed operate connecticut banks they merge with companies from outside the region norstar based albany first connecticut has assets about two billion dlrs fleet has total assets about billion dlrs fleet said will seek have the connecticut law amended allow retain first connecticut which based hartford fleet acquisition norstar now expected completed around july when change laws fleet home state rhode island allowing interstate banking outside new england will into effect reuter 
earn	asset investors mir initial payout asset investors inc which recently went public said its board declared initial quarterly dividend cts per share payable april holders record april one reuter 
trade	japan says oecd study subsidies still ongoing japanese agriculture ministry officials said study agriculture subsidies the organisation for economic cooperation and development oecd still under way and will completed sometime next month the officials said the study has been inaccurate far and they said japan would comment the final results reuter report from washington yesterday said the study has found that japan has the highest agriculture subsidies the world and that dairy farmers benefit more than any other commodity producers from subsidies the study has not been officially released due objections from some countries japan has withdrawn its objection and decided accept the release the study the agriculture ministry officials said oecd directors are expected approve the release meeting mid may one agriculture ministry source said the study far was based the years japanese subsidies have dropped sharply since then partly because tight budgetary policy and foreign currency factors have also changed said the study unfair and unacceptable because does not take account various differences farming conditions each country such geography the source said said highly likely that the final study will show japan has the highest farm subsidies the world this would increase foreign pressure open japan farm market further but this would have little impact japan agriculture policy said without giving further details main purpose the study clarify export subsidies major exporting nations like the united states and the european community but japan major importer said reuter 
earn	corrected micropro international corp mpro net qtr shr four cts seven cts net revs mln half shr four cts cts net revs mln mln note period ended february company corrects period march item reuter 
acq	cmco acquire rest cable value said its board has approved proposal acquire the pct cable value network held its cable television industry partners exchange for warrants for common the company which already owns the other pct cvn said plans change its name cvn said the proposal calls for its cable partners receive about eight mln five year warrants exchange for their pct interest cvn and commit long term affiliation agreement carry cvn programming said the proposed warrants would carry exercise price dlrs share said the warrants originally offered cable partners will continue vest the pre agreed schedule the company now has about mln shares outstanding said the transaction subject the parties entering into agreement which would subject approval its shareholders and regulatory agencies reuter 
earn	home savings durham hsld sets stock dividend home savings and loan association inc durham said its board declared pct stock dividend payable april holders record april three reuter 
acq	twa legal stipulation not pursue the acquisition usair 
interest	top discount rate bill tender falls pct 
crude	canada northwest sell preferred shares canada northwest energy ltd said reached agreement principle sell one mln preferred shares way private placement raise mln dlrs for oil and gas exploration the pct cumulative redeemable convertible series preferred shares will flow through shares entitling holders tax deductions not claimed the company the shares will convertible anytime after issue into common shares equivalent conversion price dlrs share after one year they will redeemable any time the company dlrs share plus accrued dividends reuter 
acq	ohio edison sells pct nuclear interest for mln dlrs 
ship	high winds keep vessels trapped baltic ice strong south easterly winds were keeping many vessels trapped the ice off the finnish and swedish coasts one the worst icy periods the baltic for many years the finnish board navigation said finland and sweden vessels were reported stuck the ice and even the largest the assisting icebreakers were having difficulties breaking through the stranded ships coastguard officials said however icy conditions the southern baltic the soviet oil ports ventspils and klaipeda had eased they said weather officials neighbouring sweden said the icy conditions the baltic were the worst for years with ships fighting losing battle keep moving the coastal stretches the gulf bothnia which divides finland and sweden the ice one metre thick with drifts and currents packing into almost impenetrable walls three metres high swedish coastguard officials said weather forecasts say winds may ease during the weekend but further drop temperature could bring shipping standstill the officials said reuter 
trade	and comecon ends talks with progress the european community and soviet led comecon ended talks here having made progress setting formal trade relations but breakthrough because comecon refusal recognise west berlin part the delegates said negotiators were trying reach agreement the draft joint declaration setting official relations after years mutual non recognition john maslen head the delegation told reuters emerged from the final session made some progress but have called for another meeting officials who asked not named said the comecon team had refused accept clause the draft declaration which would recognise west berlin part the nation under the treaty rome all contracts and agreements signed the community must contain this territorial clause stipulating west berlin integral part the negotiator taking part the three day talks said wanted the territorial clause but comecon said joint statement issued after the talks said progress was made towards clarifying positions but another meeting would necessary complete the work any decision principle set relations would require approval the community council ministers and the executive committee comecon zdzislaw kuroski deputy director comecon who heads the east bloc delegation told reuters ahead today session have narrowed our differences range questions but not all questions asked whether comecon would accept insistence that any joint declaration stipulate west berlin part the community replied this question not contained the draft which our side presented west german diplomats said they would insist including the clause west berlin any comecon agreement the talks followed earlier round between the two trading blocs here last september and the first ever direct talks between the and the soviet union establishing diplomatic relations january the trades with individual comecon member states despite non recognition comecon last year the had five billion dlr trade deficit with east european states about half the deficit the previous year due drop the price soviet oil imported the reuter 
acq	ohio edison oec sells pct nuclear interest ohio edison said has completed the sale and leaseback pct its pct interest unit one the perry nuclear power plant receiving mln dlrs for the interest the utility said the share its interest the megawatt generating plant was sold group institutional investors which leased back the company for period about years negotiated lease payment rate ohio edison said the proceeds will used finance the rest its construction program and repay bank loans incurred for the retirement high interest long term debt ohio edison did not detail the lease payments but said the payments will reduce the amount revenue the company will need cover our investment perry which translates into savings for our customers the utility said projects the financing could reduce the amount annual revenue needed about mln dlrs plans filing rate application with the public utilities commission ohio recover the perry costs later this year said the sale and leaseback was attractive the investors because they could take quicker advantage tax benefits than the utility could reuter 
earn	stanley interiors sthf says results reduced stanley interiors corp said its first quarter shipments and operating income were lower than expected due snowstorms january and february that forced the closing some its manufacturing facilities for six days stanley said however that any reduction first quarter operating income will offset reduced interest expense and that first quarter net income will about flat with first quarter net income cts share dlrs stanely also said the first quarter sales losses would made shipments the second quarter reuter 
acq	twa twa court settlement with usair trans world airlines inc said reached agreement yesterday federal court with usair group inc that prevents twa from buying additional shares usair under the agreement twa which holds about pct usair stock will not buy more usair shares before april and will not after that date without giving days notice usair twa also agreed that would not knowingly and willingly interfere with the consummation the merger between usair and piedmont aviation inc pie twa said the court agreement confirms previous announcements the company filings with the securities and exchange commission that does not presently intend seek control usair acquire additional common stock result the agreement the court removed previous temporary restraining order against twa the company said twa and usair have also agreed that all litigation between them pittsburgh and delaware will stayed until april twa said the agreement does not prevent from commenting regulatory agencies the usair piedmont merger separate statement usair said the agreement also included provision that all usair shares currently owned twa and its chairman carl icahn will voted through voting trust proportion the votes other shares not controlled twa icahn reuter 
earn	cri insured mortgage investments crm payout mthly div cts cts prior pay may record march reuter 
acq	american motors amo board meeting takeover american motors corp board directors meeting this morning new york consider chrysler corp billion dlr takeover offer american motors spokesman said the spokesman reiterated statements made earlier the week that the regularly scheduled meeting was being held the spokesman would not comment recurring speculation that the board might receive higher offer from chrysler analysts have said the fact that american motors stock has remained above the four dlrs share chrysler offer could lead the larger company raise its bid the american motors spokesman said had not seen any indication that higher offer would received from chrysler although added don know what the conversation the meeting repeated statements made earlier the week the automaker that today meeting will probably not result final decision the chrysler bid the board first apprised the proposal the march suspect there will several more meetings after this the spokesman said the meeting expected through early afternoon reuter 
money-fx	treasury baker supports fed monetary policy treasury secretary james baker said newspaper interview that supports the current course federal reserve board monetary policy the course fed policy quite adequate far are concerned baker said interview with the new york times the interview baker declined comment about the recent paris accord among the six leading industrialized democracies when was asked why the agreed stabilize the dollar current levels when the trade deficit hit record level last year baker said the newspaper interview that was subject prefer not talk about said that explained why the agreed help maintain the dollar current levels would necessity end getting into some the private agreements that support such and agreement the dollar baker was optimistic about brazil which has stopped interest payments much its outstanding debt with foreign commercial banks they are after all paying time all the debt service and principal their official debts having just rescheduled with the paris club baker said the newspaper interview baker said that brazilian repreentatives had explained they intented pay their commercial bank debts full but needed time reuter 
acq	universal resources uvr vote merger universal resources corp said holding special shareholders meeting this morning vote the previously proposed merger between and questar corp str universal whose stock was delayed this morning the american stock exchange said will release statement later the day the vote reuter 
acq	louisiana pacific lpx buys oregon sawmill louisiana pacific corp has agreed pay dlrs for the bankrupt harris pine sawmill pendleton ore the mill bankruptcy trustee said louisiana pacific refused indicate whether would repoen the lumber mill which was closed after the sawmill owned the seventh day adventist church filed bankruptcy petition portland federal court december the trustee said the company outbid wtd industries inc for the lumber mill harvested logs and contracts harvest timber the national forest outbidhell bankruptcy trustee said reuter 
earn	international pagurian has five month profit international pagurian corp ltd said had net profit mln dlrs three cts share for the period august december based mln shares outstanding revenues for the full year ended december were mln dlrs and net assets year end were mln dlrs the company did not disclose earnings for the period before august prior year results company spokesman said prior results were not comparable due its august issue mln common shares reuter 
earn	compuscan inc cscn qtr feb net shr loss eight cts loss cts net loss loss revs nine mths shr loss cts loss cts net loss revs mln reuter 
acq	first federal ffbn merging into bankeast benh first federal bank fsb said has entered into letter intent merge into bankeast corp for dlrs per first federal share bankeast common stock first federal said subject certain adjustments including first federal earnings prior the close the deal each share its common stock shall not converted into less than shares more than shares bankeast common first federal said the proposed move also subject execution definitive agreement regulatory approval and the approval first federal shareholders reuter 
acq	illinois tool works itw sells two divisions illinois tool works inc said completed the sale its drill and end mill division pine bluff arkansas and eclipse counterbore division detroit newly formed eclipse industrial pruducts inc based louis terms were not disclosed all employees both locations will retained added reuter 
earn	national patent development corp npd payout qtly div cts cts prior pay may one record april one reuter 
earn	thompson medical inc sets quarterly qtly div cts cts prior pay april record march reuter 
crude	gulf canada goc asserts damage from spill gulf canada corp said discharge material its amauligak drilling site the beaufort sea caused danger the environment yesterday the federal department energy charged gulf canada with eight counts illegal dumping for discharging powdered cement and drilling mud between september and last year the charges carry maximum dlr fine each count gulf said the government charges relate discharging materials without permit not environmental damage resulting from the action gulf said voluntarily informed appropriate government officials when the material was discharged the company also said none the material was discharged within miles the closest shoreline added that one the materials cited barite naturally occurring mineral routinely discharged into the sea during drilling operations reuter 
earn	metallgesellschaft metg year september domestic group net profit mln marks mln parent net profit mln mln dividend six marks same parent payment disclosed reserves mln mln reuter 
earn	pubco pubo declares dividend right pubco corp said its board declared dividend distribution one common stock purchase right each outstanding share pubco common stock said each right will entitle shareholders buy one share common stock exercise price three dlrs the rights will exercisable only person group acquires pct more pubco common stock announces tender which would result ownership person group pct more the common stock the company said pubco said will entitled redeem the rights cts per right any time before pct position has been acquired and afterward certain circumstances said the exercise price will substantially reduced the event acquisition pct more common stock pubco acquired merger other transaction each right will entitle its holder purchase the right then current exercise price number the acquiring company common shares having market value that time twice the right exercise price the company said the dividend distribution will made march payable shareholders record that date the rights will expire ten years later march the company said pubco said the rights are not being distributed response any specific effort change control pubco and the board not aware any such effort reuter 
earn	tech data tecd sets three for two split tech data corp said its board declared three for two stock split payable april holders record april reuter 
acq	vertex vetx buy computer transceiver stake vertex industries inc and computer transceiver systems inc jointly announced agreement for vertex acquire pct interest computer after completes proposed reorganization computer has been reorganization proceedings under chapter since september the companies said the agreement would allow computer unsecured creditors and debenture holders receive new stock exchange for exsiting debt and for shareholders receive one new share computer stock for each four shares previously held the companies said the united states bankruptcy court for the southern district new york has given preliminary approval for the proposal which subject formal approval computer creditors and the court under the agreement vertex also said would supply computer with dlrs operating funds and arrange renegotiation its secured bank debt among other things reuter 
earn	rent center rent votes for split rent center inc said its directors approved three for two stock split payable april record april reuter 
earn	usacafes usf sets higher dividend usacafes said its board declared quarterly dividend cts per unit its first since converting limited partnership the company usacafes inc had paid quarterly dividend nine cts per share said the restructuring partnership has substantially increased the cash available for distribution unitholders had predicted reuter 
acq	cooper canada said received takeover offers cooper canada ltd said has received takeover offers from number companies the company also said that discussions are continuing but definitive arrangements have been made gave further details reuter 
earn	freeport mcmoran oil and gas fmr payout rises mthly div cts cts prior pay april record march reuter 
acq	illinois regional illr mulls affiliation illinois regional bancorp said evaluating whether affiliate with larger bank holding company continue remain independent the mln dlr asset bank holding company said that view recent investor interest suburban chicago banks retained merrill lynch capital markets advise its alternatives last year illinois regional had discussions with milwaukee based marine corp mcrp but agreement was reached company spokesman said reuter 
earn	sheldahl shel votes three for two stock split sheldahl inc said its directors approved three for two stock split payable april record april reuter 
earn	russ togs inc rts sets quarterly qtly div cts cts prior pay april record april one reuter 
money-fx	bank finland trade banks certificates the bank finland said has started dealings banks certificates deposits cds with immediate effect and that was prepared issue its own paper stimulate operations the domestic money market bank finland governor rolf kullberg told news conference the bank will also limit credits the call money market from march introducing maximum credit amount and penalty rate banks exceed this ceiling the recent introduction three month money and these new regulations are decreasing the role the call money market and the discount rate monetary instruments kullberg said bankers welcomed the central bank measures saying these were needed accelerate the domestic money market the bank finland had never before been allowed issue its own cds they said the central bank for the first time has instrument with which really can influence the price money this country one banker said under the new rules banks are limited call money credits maximum pct the total their equity capital and cash reserves penalty rate interest pct now introduced the limit exceeded director sixten korkman the bank finland monetary department said expected the bank pursue active policy the interbank market issuer own cds are free maybe monday will issue the first just see how the system functions overall think will issue least few times week korkman told reuters said the bank was likely aim cds with three month maturity first the market was best developed for paper that maturity the bank finland introduced last december three month credits and deposits rates determined the central bank and the commercial banks shift away from the traditional overnight call money market liquidity the call credit market has fallen from around nine billion markka early december mln last week while three month credits have risen three four billion the interbank market there has been increasing trade banks cds estimated some eight billion markka addition commercial paper accounts for around five billion markka and treasury bills two billion reuter 
acq	carteret savings cbc completes sale branches carteret savings bank said has completed the previously announced sale six virginia branches charter federal savings and loan association chfd carteret said has opened retail banking office vienna the next step its move build strong presence the washington baltimore area carteret said the new bank has two offices outside baltimore which were acquired last june when carteret merged with admiral builders savings and loan association the company said plans open retail banking office downtown washington this summer plus several more offices baltimore county and others fairfax county carteret said may open more loan offices virginia and maryland reuter 
earn	mcdonald mcd reaffirmed recommendation the stock mcdonald corp rose sharply this morning after analyst daniel lee drexel burnham lambert inc reiterated his recommendation the stock traders said mcdonald operator fast food restaurants rose comparable store sales are pct lee said and the stock trading below the market multiple said not many companies have consistent pct annual earnings growth rate return equity above pct but trade less than the market multiple analyst lee said the introduction new line salads this spring about the time are all trying squeeze into bathing suits should boost sales also noted that the average mcdonald does about mln dlrs revenues year that compares with mln dlrs year for the average burger king and dlrs year for the average wendy since cost about the same build single store for any one these chains said mcdonald can well justify their expansion lee expects mcdonald earn dlrs share and dlrs last year earned dlrs share reuter 
earn	icn pharmaceutical inc icn qtr feb net oper shr cts four cts oper net sales mln mln note oper data does not include extraordinary gains dlrs cts per shr current quarter and dlrs eight cts per shr year ago quarter from sales certain marketable securities reuter 
earn	american federal colorado afsl halves payout american federal savings and loan association colorado said its board cut the quarterly dividend cts per share from cts the dividend payable april holders record march the company said earnings will continue under pressure this year due the weakness the colorado economy and high level nonearning assets reuter 
earn	texas utilities txu mths feb net shr dlrs dlrs net mln mln revs billion billion avg shrs mln mln reuter 
earn	guardian trustco inc qtr net shr cts nine cts net revs not given year shr dlrs cts net revs mln mln note shr after preferred dividends reuter 
acq	enviropact viro make acquisition enviropact inc said has signed letter intent acquire willms trucking inc for about mln dlrs with completion expected days the year ended september willms had revenues about mln dlrs transports hazardous waste sand and gravel reuter 
earn	virateck inc vira qtr feb oper loss oper shr loss cts profit cts oper loss profit revs note oper data does not include year ago extraordinary gain dlrs nine cts per shr reuter 
earn	parkway pkwy sets quarterly qtly div cts cts prior pay may record may four reuter 
acq	italy sets rules for company holdings banks companies will henceforth able own stakes banks but these should not constitute dominant holding italian government committee ruled the interministerial committee credit and savings headed treasury minister giovanni goria said its decision reflected the need safeguard the principle separation between banks and non financial concerns did not quantify what might constitute dominant holding the committee also set conditions for the allocation credits banks companies individuals holding stakes them and stipulates conditions under which the bank italy could exercise its powers control the case stakes held banks companies other banks under the ruling credits given banks their subsidiaries groups individuals holding five pct more the bank capital must not exceed defined limits the value credits given cannot exceed either one fifth the combined capital and reserves the bank itself two fifths the value the stake owned the bank the group individual concerned exceptions these conditions include credits concerns which the bank itself has stake and branches foreign banks credits made foreign companies banks subsidiaries which have their legal base italy will also excluded from the conditions the bank italy will request banks insert rules their statutes ensure that companies individuals holding five pct more the bank capital are not given privileged treatment with regard credit allocation and terms with regard bank holdings companies the bank italy can exercise supervisory controls when information bank consolidated activities show single shareholdings company another bank pct more owned directly indirectly such controls can also exercised even the stake held below pct can considered controlling interest the controls will not exercised cases where the value the bank stake concern below the lesser two predefined limits these limits are set billion lire two pct the total assets the parent company the shareholding bank reuter 
earn	parisian inc pasn qtr jan net shr cts cts net sales mln mln avg shrs year shr dlrs dlrs net sales mln mln avg shrs reuter 
earn	spi pharmaceuticals inc spip qtr oper net qtr ended feb oper shr cts cts oper net revs mln mln note oper data does not include year ago extraordinary gain dlrs eight cts per shr reuter 
earn	guardian trustco sees modest outlook guardian trustco inc earlier reporting pct increase full year earnings per share said the outlook for more modest the company said has started number long term growth projects which have payback period exceeding one year guardian trustco did not give specific earnings forecast the company earlier reported net profit rose dlrs dlrs share from year earlier dlrs cts share reuter 
acq	cogeco buys station plans share issue cogeco inc said agreed acquire pct quebec city radio station cjmf and will issue subordinated voting shares the company cover portion the purchase price said the purchase price and other terms the transaction have not been disclosed the transaction subject approval the canadian radio television and telecommunications commission reuter 
earn	nestle net billion swiss francs billion div unchanged francs 
earn	texas industries inc txi qtr feb net shr loss cts profit one net loss profit sales mln mln nine mths shr loss cts profit dlrs net loss profit mln sales mln mln note current year net includes tax credits dlrs quarter and dlrs nine mths reuter 
earn	sunshine mining qtr shr loss cts loss cts 
earn	graco inc ggg votes quarterly dividend qtly div cts cts prior qtr pay may record april reuter 
acq	audio video ava sues over cyclops cyl bid audio video affiliates inc said has filed suit against dixons group plc cyclops corp alleghany corp and others connection with dixons recently completed tender offer which raised its ownership cyclops pct the company said the suit filed district court for the southern district ohio seeks temporary restraining order and preliminary injunction requiring dixons for business days permit any cyclops shareholder who previously tendered and now wishes withdraw the company said the order and injunction would also prohibit dixons from exercising lockup option granted cyclops and prohibit dixons for business days from attempting exercise any control over cyclops audio video said the suit also requests the court order cyclops immediately provide all potential bidders for cyclops all information given dixons audio video and citicorp cci have been tendering for all cyclops shares competing offer dlrs per share but said could raise its bid dlrs under certain circumstances dixons offered dlrs its tender february alleghany agreed buy cyclops steel and nonresidential construction business for mln dlrs cash and the assumption liabilities reuter 
acq	dixons says sec moving cyclops cyl tender dixons group plc said the securities and exchange commission has authorized but not commenced the filing action against concerning its waiver condition its tender offer for cyclops corp dixons has offered buy about pct cyclops shares the sec action deals with waiver dixons condition the tender offer which was made without appropriate extension the offer dixons said dixons also said currently discussing the matter with the sec the sec has standing policy never confirming denying investigations upcoming legal action reuter 
earn	sunshine mining ssc qtr loss shr loss cts loss cts net loss mln loss mln revs mln mln avg shrs mln mln year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln avg shrs mln mln note per share results after preferred dividend requirements mln dlrs mln dlrs quarter and mln dlrs mln dlrs year qtr loss includes accruals writedowns and non recurring charges aggregating mln dlrs including costs anticipated for the reopening the sunshine mine and writedown the capitalized costs the sixteen one mine mln dlrs year loss includes charges totaling mln dlrs reuter 
earn	scat hovercraft inc scat year loss shr loss not given net loss sales note company incorporated june fourth quarter loss dlrs reuter 
earn	nestle nesz year div swiss francs per share and francs per participation certificate unchanged net billion billion shr turnover billion billion addition reserves mln mln reuter 
earn	southeast banking corp stb sets quarterly qtly div cts cts prior pay april record march reuter 
earn	balance computer corp qtr jan loss shr loss one profit five cts net loss profit rev nine months shr profit one profit five cts net profit profit rev note the company was delisted from the nasdaq november third qtr net includes extraordinary credit dlrs four cts share reuter 
earn	recommendation reiterated wang labs wanb analyst thomas mccrann merrill lynch said reiterated buy recommendation wang laboratories inc noting that successful cost cutting campaign could reduce the earnings loss expected for the third quarter ending march wang was the most actively traded stock the american stock exchange rising mccrann said that wang little bit ahead where they were expected their cost reductions and result the odds have increased that the loss for the quarter will less than had been expected mccrann said expects wang report break even earnings per share only small loss per share for the third quarter said for the year however the company should report loss about cts share compared with earnings about cts share year ago reuter 
acq	japan britain disagree telecom merger cable and wireless plc cawl resisting attempts merge two japan based telecommunications firms the hope that overseas political pressure will force change those plans company executive said cable and wireless which holds pct stake one the two japanese firms opposed plans reduce its share three pct the merged firm director corporate strategy jonathan solomon told reporters that plan put forward senior member the powerful business organization keidanren with the tacit backing the post and telecommunications ministry has caused storm protest from abroad that japan seeking exclude foreign firms from meaningful position the market pacific telesis group pac the united states also holds pct stake one the newly formed consortia international digital communications inc idc solomon said that both british prime minister margaret thatcher and secretary state george schultz have written the japanese government about the planned merger key senate committee commerce secretary malcolm baldrige and trade representative clayton yeutter have also expressed opposition the merger said the post and telecomunications ministry reiterated again that sees need for two competitors kokusai denshin denwa ltd which holds monopoly international calls from japan the ministry has also suggested that foreign shareholders not hold managerial positions the new firm attempt hammer out agreement solomon today met fumio watanabe the senior keidanren officer trying arrange the merger but the two sides remained deadlocked stake and mln dlr project lay fibre optic cables between japan and alaska form part its global network and wants start right away the project such application and other procedures said watanabe who also chairman tokio marine and fire insurance inc the japanese side saying that the decision such plan should left with the new firm after the merger these decisions the merger were made consideration japan economic conditions and legal systems told him are not colony something said watanabe reuter 
earn	winthrop insured mortgage wmi sets payout qtly div cts cts prior pay april record march note winthrop insured mortgage investors reuter 
earn	entex energy development ltd eed sets payout qtly div cts cts prior pay may record march reuter 
trade	says broke trade rules akzo dupont row the european community commission has charged the united states with breaking international trade rules excluding dutch made fibres from the market and said would take the issue the world trade body gatt the latest series trade disputes with washington the executive authority alleged that section the tariff act was incompatible with the gatt general agreement tariffs and trade because discriminated against imported products favour domestically produced goods the commission said would ask geneva based gatt rule whether the section question which officials said had proved barrier many exporters conformed its rules commission officials did not rule out retaliatory measures after gatt decision against washington failed bring the disputed section into line with international rules the executive decision gatt follows complaint the dutch company akzo akzo whose aramid synthetic fibres have been banned from the market because charges the firm dupont that the fibres violate the american company patents akzo alleged that the ban imposed the international trade commission itc was discriminatory and incompatible with gatt provisions the dispute centres the fact that section the tariff act gives the itc jurisdiction over imported products the commission charged that producers did not have the same possibilities for defending themselves before the itc they would have normal court consequently the procedure followed less favourable than that which takes places normal courts law for goods produced the united states said statement reuter 
acq	agency allow air buy pct piedmont pending final okay merger 
earn	final test inc fnlt qtr loss shr loss six cts loss cts net loss loss sales year shr profit six cts loss dlrs net profit loss sales reuter 
earn	michigan national corp mnco votes dividend qtly div cts cts prior qtr pay april record april reuter 
earn	autoclave engineers inc aclv qtly dividend qtly div four cts four cts prior pay april record march reuter 
acq	waste management amends chemlawn offer raising dlrs share from dlrs 
acq	american motors said directors took action chrysler proposal postpones annual meeting 
acq	waste management wmx hikes chemlawn chem bid waste management inc said amended its offer buy the outstanding shares chemlawn corp dlrs share thursday the company said was prepared bid dlrs share from its original dlrs share offer result the price increase made through waste management wholly owned subsidiary wmx acquisition corp the offer has been extended and the withdrawal rights will not expire midnight edt april two unless further extended waste management also said amended its offer provide that the tender offer price will not reduced chemlawn cts share dividend payable holders record april reuter 
earn	entex energy development ltd eed year loss unit loss dlrs loss dlrs net loss mln mln revs mln mln avg units note net includes writedown oil and gas properties dlrs mln dlrs and writedown geothermal property mln dlrs mln dlrs reuter 
acq	says usair may buy pct piedmont the department transportation said will allow usair group acquire pct piedmont aviation pie voting stocks pending final approval the proposed merger the two airlines the agency said the stock would have held voting trust controlled independent trustee agency spokesman said that usair which has proposed buy all piedmont shares controls more than pct the firm outstanding stock will have one week sell those excess shares usair asked the department transporation earlier this month approve voting trust agency spokesman said this device that airlines use get majority control company trying acquire while their application before the government pending approval the spokesman said the firm had asked the transporation agency permission buy all piedmont voting stock the but agency decided give approval for pct shares the spokesman said agency action the proposed merger application could take long six months reuter 
acq	affiliated publications buy billboard publications for mln dlrs 
acq	amc amo takes action chrysler bid american motors corp said its directors reviewed chrysler corp merger proposal but took action the company said its directors met new york today regularly scheduled meeting the board review continuing with the company independent legal and financial advisers american motors said statement issued from new york american motors board voted postpone its annual shareholders meeting scheduled for april southfield michigan the next regularly scheduled meeting american motors board will april although expected that directors will meet again prior that date according the statement early last week chrysler said agreed buy the pct interest owned regie nationale des usines renault american motors and acquire the balance american motors transaction valued billion dlrs later that week amc said had retained financial and legal advisers and expected meet periodiocally over the next several weeks consider the proposal reuter 
earn	nestle seeking authorisation for certificate issue nestle nesz said would seek shareholder approval issue participation certificates pct share capital instead the current limit pct said wanted this authorisation view future certificate issues nestle nominal capital amounts mln swiss francs nestle reported net profits billion francs for pct from while turnover fell pct billion the swiss franc strengthened against other currencies the parent company net profit rose mln francs from mln and the company planned unchanged dividend francs per share and francs per certificate after placing mln francs reserves against mln last year the payout represented pct group net profit against pct last year nestle said had also invited fritz leutwiler former president the swiss national bank and currently chairman bbc brown boveri und cie bbcz join the nestle board reuter 
trade	gatt debate charges airbus subsidies the will pursue its complaint that european governments unfairly subsidise the airbus industrie aircraft consortium proceedings the gatt civil aircraft committee gatt spokesman said today the presented its case for the first time the aircraft committee the general agreement tariffs and trade gatt during special two day session ending today gatt rules cover some pct world commerce the member committee agreed open debate the complaint starting with informal consultations and then holding special session july trade officials said the tension has eased the permanent trade ambassador the member european community tran van thinh told reporters the has decided through proper channels trade officials again made clear their anger over what they call unfair government support for airbus voiced during visit european capitals february letter calling for the special committee meeting washington charged france west germany the spain and the commission with unfair practices behalf airbus the charges that the europeans are violating rules laid down the agreement trade civil aircraft washington presented its reading rules inducement purchase aircraft and support for development airlines during the special session and asked the committee confirm its view official sources the delegations said the views would considered during the informal consultations but the europeans would also free bring any complaints against american civil aircraft practices some delegates said the position appeared give such broad interpretation the rules suggest that the civil aircraft accord needed negotiating all these matters would considered during the informal meetings reuter 
earn	monfort colorado inc qtr shr dlrs dlrs 
acq	affiliated publications afp buy billboard affiliated publications inc said agreed acquire all the outstanding stock billboard publications inc for mln dlrs cash from shareholder group led boston ventures limited partnership affiliated which owns the company that publishes the boston globe said the acquisition will give strong position the growing market for specialty magazines under separate agreement affiliated said that certain members billboard management plan buy pct the equity billboard following affiliated acquisition the company billboard publishes eight specialty magazines including billboard magazine and annual directories also publishes and distributes speciality books under four imprints and operates two book clubs affiliated the parent company globe newspaper publisher the boston globe also has interests cellular telephone and paging services providers reuter 
acq	firm has allegheny int preferred stake spear leeds and kellogg new york brokerage partnership said has acquired shares allegheny international inc dlr convertible preferred stock pct the total outstanding filing with the securities and exchange commission spear leeds said bought the stake for mln dlrs part its normal trading activities reuter 
acq	wtd industries wtdi sawmill offer rejected wtd industries inc said its offer buy the bankrupt harris pine sawmill pendleton oregon was rejected the bankruptcy court trustee the company said the bid was rjected favor higher offer reuter 
acq	celina celna shareholders approve sale celina financial corp said shareholders special meeting approved transaction which the company transferred its interest three insurance companies wholly owned subsidiary which then sold the three companies affiliated subsidiary said the company interests west virginia fire and casualty congregation insurance and national term life insurance had been transferred first national indemnity which sold the three celina mutual for cash office building and related real estate reuter 
acq	group has pct unicorp american uac two affiliated new york investment firms and investment advisor told the securities and exchange commission they have acquired shares unicorp american corp pct the total outstanding the group which includes mutual shares corp said bought the stake for mln dlrs for investment purposes and has intention seeking control unicorp american reuter 
acq	revlon buys germaine monteil cosmetics from beecham group for undisclosed terms 
acq	revlon rev buys beecham comsmetics unit revlon group inc said bought germaine monteil cosmetics business the from the beecham group plc terms the sale were not disclosed the sale includes the rights germaine monteil north and south america and the far east well the worldwide rights the diane von furstenberg cosmetics and fragrances lines and the distribution rights lancaster beauty products meanwhile london statement from beecham said the business was sold revlon for mln dlrs cash and royalty payment reuter 
earn	monfort colorado inc mnft qtr net qtr ended feb shr dlrs dlrs net revs mln mln six mths shr dlrs dlrs net mln mln revs mln mln reuter 
acq	mark corrects agreement with baird batm mark industries inc which has said may consider bid seek control baird corp said baird has not agreed hold off any defensive measures without giving mark least hours notice filing with the securities and exchange commission mark corrected statement made yesterday another sec filing which listed several agreements reached with baird including that baird would not take any anti takeover steps without providing least hours notice mark said was later told baird that baird had given such assurance reuter 
acq	generale banque heller buy factoring unit generale banque genb and heller overseas corp chicago have each taken pct stakes factoring company belgo factors generale banque said statement gave financial details the transaction belgo factors turnover was billion belgian francs reuter 
earn	oshawa group ltd qtr net shr cts cts net mln mln revs mln mln year shr dlrs dlrs net mln mln revs billion billion avg shrs reuter 
earn	pan corp qtr loss mln dlrs profit mln dlrs 
earn	virco manufacturing corp vir qtr net qtr ended jan shr cts cts net revs mln mln year shr dlrs dlrs net revs mln mln note figures include losses from discontinued operations qtr dlrs dlrs year earlier and for the year dlrs dlrs year ago reuter 
acq	cooper cbe asks ftc end acquisition limits cooper industries inc asked the federal trade commission vacate order that requires the company get ftc approval before making certain acquisitions the ftc said the order was issued part settlement ftc charges that cooper merger with gardner denver would lessen competion and increase concentration the gas compressor and industrial air tool industries the ftc said the order requires that until cooper must get ftc approval before acquiring companies the natural gas compressor hand held industrial pneumatic tool businesses reuter 
earn	thompson medical inc declares qtly div qtly div cts cts prior pay april record march reuter 
earn	new england electric system nes two months net ended february shr cts cts net mln mln revs mln mln avg shrs mln mln mths ended feb shr dlrs dlrs net mln mln revs billion billion avg shrs mln mln reuter 
earn	dillard dept stores inc dds declares qtly div qtly div three cts three cts prior pay may record march reuter 
earn	pan corp qtr loss shr loss dlrs profit dlrs net loss mln dlrs profit mln revs mln mln mths shr loss dlrs profit cts net loss mln profit mln revs billion billion note net includes special charges mln dlrs special gain mln dlrs for the qtr and year reuter 
acq	ftc eases allied signal ald unit restrictions the federal trade commission said eased requirement that allied signal inc allied corp subsidiary get prior ftc approval before making certain acquisitions the high purity acid market the ftc said ended the prior approval requirement because allied longer has businesses covered the order other restrictions still apply said the restrcitions stem from order the ftc settling charges that allied acquisition fisher scientific reduced competition three high purity acid markets reuter 
earn	san juan basin royalty sjt hikes distribution cash distribution cts cts prior pay april record march note company full name san juan basin royalty trust reuter 
earn	shl systemhouse inc shkif qtr feb net shr cts nine cts net revs mln mln half shr cts cts net mln revs mln mln note share adjusted for two for one stock split approved december net includes tax credits dlrs dlrs quarter and dlrs dlrs half backlog mln dlrs mln dlrs start fiscal year and mln dlrs the end the first quarter reuter 
earn	photronic labs inc plab qtr jan net shr cts seven cts net sales reuter 
earn	permian basin royalty pbt hikes distribution cash distribution cts cts pay april record march note trust full name permian basin royalty trust reuter 
acq	universal resources uvr holders approve merger universal resources corp said its shareholders approved the merger the company with questar corp str separately universal said will redeem its pct debentures due december april pct face amount plus accrued interest universal said will operate wholly owned unit questar under its current name under terms the merger which took effective today universal said its shareholders will receive three dlrs share cash said its stock will longer trade the amex reuter 
earn	endotronics endo halted pending news release endotronics inc halted nasdaq pending release news report monday said was expecting substantial losses for the quarter ending march and the fiscal year ending sept the company had cited dispute over payment yamaha inc one its japanese distributors over payment promissory note for dlrs overdue accounts reuter 
earn	texas instruments inc txn sets quarterly qtly div cts cts prior pay april record march reuter 
earn	southeast banking corp stb declares qtly div qtly div cts cts prior pay april record march reuter 
acq	armstrong world ack unit buys plant armstrong world industries inc said its gilliam furniture affiliate has purchased square foot building troutman for undisclosed terms said the new plant expected operation before year end and and will more than double gilliam production capacity for upholstered furniture reuter 
earn	hudson bay year oper shr profit cts loss dlrs 
earn	cook united inc expects loss mln dlrs for fiscal 
earn	york financial corp yfed declares qtly div qtly div cts cts prior pay may five record april reuter 
acq	cook united inc talks sell stake private investors 
earn	combined int pma raises payout votes split combined international corp said its board voted increase the quarterly dividend pct cts share from cts payable may record may said directors also approved two for one stock split subject approval shareholders proposed capital stock amendment the annual meeting april the record and pay dates would announced later said reuter 
acq	american cablesystems acn buy cable system american cablesystems corp said agreed principal buy cable television system los angeles county from heritage communications inc hci for mln dlrs the company said the system being purchased serves about subscribers the towns compton south monte hawaiian gardens and the communities willowbrook athens firestone florence and east compton said the acquisition will bring seven the number cable systems owns manages has agreed buy the los angeles area reuter 
earn	york financial yfed splits stock york financial corp parent company york federal savings and loan association said its board directors declared five for four stock split the form pct stock dividend the company said will distribute the split may shareholders record april reuter 
acq	chemlawn chem has comment new offer chemlawn corp said had comment sweetened offer from waste management inc wmx waste management amended its dlr per share tender offer raising dlrs per share chemlawn had rejected waste management earlier dlr per share offer saying was undervalued bid chemlawn earlier told its shareholders not tender waste management chemlawn rose over the counter trading reuter 
earn	esso saf essf year ended dec net profit mln francs mln net dividend francs francs operating loss mln francs billion note the company which the french subsidiary exxon corp xon said its net profit result included the reintegration billion francs provisions for exchange fluctuations reuter 
earn	pan main unit report smaller loss pan corp said its largest division the atlantic will report first quarter loss that will substantially lower than that reported year ago the qtr pan reported net loss mln dlrs which included foreign exchange losses mln the company did not say how much the atlantic division lost pan also said encouraged passenger traffic results far this year well booking trends january and february the airline said total systemwide revenue passenger miles were five pct and pct respectively over the same months last year also said that based current trends its largest division should report vastly improved second quarter traffic compared last year which resulted load factor pct for the second quarter pan also said its principal subsidiary pan american world airways had net loss mln dlrs compared with profit mln dlrs which included gain mln dlrs for the sale its pacific division said the airline operating loss for the year was mln dlrs compared with operating profit mln dlrs reuter 
earn	endotronics endo target investigation endotronics inc said the target formal private investigation the securities and exchange commission well the federal bureau investigation the company also said its independent accounts peat marwick mitchell and served notice that its report endotronics financial statements sept and for the year then ended should longer relied upon endotronics said the notice from its accountants stated cannot satisfy ourselves the true facts the situation degree necessary continue associated with such consolidated financial statements endotronics recently reported that was reviewing the need establish reserve for all portion approximately dlrs overdue accounts receivable and assess the impact any prior period financial statements light dispute with one its japanese distributors over payment the overdue accounts endotronics said was providing documentation the securities and exchange commission connection with that agency investigation also said michael gruenberg resigned from the company board directors reuter 
earn	advanced institutional aims cuts workforce advanced institutional management software inc said has cut its workforce from and closed its atlanta office cut expenses and improve profitability the company said also the process reducing its office space four its six offices nationwide advanced also said has named executive vice president steven sheppard chief operating officer the company said president and chief executive officer morris moliver had been chief operating officer well reuter 
earn	sun state savings sssl sees higher earings sun state savings and loan expects report earnings increase this year over chairman edward janos told shareholders the company annual meeting statement janos said core earnings are expected average mln dlrs per quarter six mln dlrs for the year while sales real estate joint ventures will add another five mln during the year sun state reported earnings dlrs dlrs per share reuter 
earn	att chairman says dividend will not cut american telephone and telegraph does not plan reduce its regular quarterly dividend cts share its common stock said james olson chairman has been the intent set the dividend level that could sustained through the ups and downs the business cycle olson told meeting securities analysts see reason change that policy said although att will maintain its current dividend olson said the company wants decrease the percentage earnings paid dividends increasing earnings industry analysts had speculated that att might cut its common dividend especially after the company posted fourth quarter net loss billion dlrs and earned only five cts share for the full year the loss included one time restructuring charge billion dlrs olson said expects att cash flow remain strong despite the poor earnings reuter 
earn	echlin inc qtr shr cts cts 
earn	allied lyons sees hiram walker profits rising allied lyons plc sees rising profits from pct owned liquor producer hiram walker gooderham and worts the current fiscal year ending early march chairman derrick holden brown said speech prepared for delivery toronto analysts anticipate that hiram walker profits will well above those the plateau years said referring the four years other words will have regained the position and improved holden brown said allied lyons won control hiram walker gooderham last year battle against gulf canada corp which finally got pct stake after out court settlement hiram walker resources ltd the previous owner reported liquor profits mln canadian dlrs the fiscal year ending sept mln dlrs mln mln and mln holden brown said allied lyons financial results for the fiscal year just ended march seven would include three months hiram walker gooderham profits but did not provide actual figures said hiram walker gooderham profit improvement the current year will come from previously announced reorganization put into effect march and close partnership with allied lyons existing allied vintners division reuter 
earn	echlin inc ech qtr feb net shr cts cts net rev mln mln six months shr cts cts net rev mln mln reuter 
earn	american can sees higher qtr net 
earn	hudson bay qtr net ended january oper shr profit dlrs profit dlrs oper net profit mln profit mln revs billion billion year oper shr profit cts loss dlrs oper net profit mln loss revs billion billion note excludes writeoff mln dlrs primarily due investment dome petroleum ltd dmp reuter 
earn	gendis inc qtr jan net shr cts cts net revs mln mln year shr dlrs dlrs net revs mln mln reuter 
earn	biflyx qtr dec net shr nil nil net profit loss revs six mths shr nil nil net profit loss revs reuter 
acq	mountain view acquires maratech communications mountain view investment corp phoenix ariz said acquired maratech communications cos inc under terms the transaction the present directors mountain view have resigned and have elected directors maratech new directors mountain view said combined shareholders meeting will soon held vote the acquisition reuter 
earn	american can sees higher year net american can chairman gerald tsai said the company will record higher earnings the first quarter and for the full year addressing analysts tsai said first quarter results have been extremely encouraging and results for all will show significant improvement over american can earned mln dlrs dlrs per share adjusted for two for one stock split the first quarter the company reported net income mln dlrs including one time gains from sale assets dlrs per share before the stock adjustment the first quarter american can will record one time gain cts per share from the sale shares its musicland group subsidiary the gain slightly higher than the expected gain the company predicted february because additional shares the unit were sold response question tsai said american can investment jefferies and very small treat just another passive investment said according press reports american can owns pct jefferies and its largest single shareholder yesterday boyd jefferies chairman and founder the brokerage firm bearing his name resigned from the firm and said would plead guilty two felony charges for breaking securities laws responding another question tsai said aids related claims were small portion claims made with american can insurance subsidiaries reuter 
earn	central banking system inc csys qtly dividend qtly div ten cts ten cts pay april record april reuter 
acq	charter crellin crtr acquire sebro plastics charter crellin inc said signed letter intent acquire all outstanding shares sebro plastics inc capital stock charter crellin molded plastic product maker said sebro precision molder engineered specialty plastic products for the automotive industry the company said the deal subject the execution definitive purchase agreement reuter 
acq	new york state electric nge ends acquisition new york state electric and gas corp said has terminated its effort acquire corning natural gas corp cited reasons the uncertain regulatory climate new york state and the depresed price new york state electric stock which has been caused the delay the nine mile point unit two nuclear plant the company had said december that had been interested acquiring corning natural gas reuter 
acq	black hawk mining can explain stock rise black hawk mining inc said knows major activities account for the recent rise the company stock price the shares rose cts cts the toronto stock exchange yesterday the company added that its application for its proposed acquisition platinova resources ltd and financings are still before the listing committee the stock exchange reuter 
acq	senator wants stronger air merger regulation the chairman the senate antitrust subcommittee said the transportation department was allowing too many airline mergers and proposed its authority transfered the justice department the transportation department antitrust enforcement has been disastrous permitting rampant merger mania ohio democrat howard metzenbaum said statement the nine largest airlines now control per cent the market that bad for competition and bad for the consumer said metzenbaum said introduced bill transfer antitrust authority over airline mergers the justice department hopes would more restrictive than the transportation department reuter 
earn	gpu gpu sees tmi fuel problems resolved general public utilities corp said the water clarity problem delaying the removal fuel from the damaged unit two the three mile island nuclear power plant appears have been resolved the company said the slower than expected removal the fuel which has been primarily due the water clarity problems now expected extend fuel removal into spokesman said the company had previously expected this completed the end and has not estimated how far into the process will extend still expects complete the entire clean the end added gpu said its auditors coopers and lybrand again qualified its opinion gpu financial statements adding the recovery tmi decommissioning costs the unresolved issues leading the qualified opinion gpu said its operating subsidiaries will seek recover the costs decommissioning tmi future rate proceedings past years the qualified opinion continues list other uncertainties associated with the accident which damaged tmi the recovery cleanup costs and any payments for damages that might exceed available insurance proceeds reuter 
earn	echlin ech expects continued profit growth echlin inc said expects further earnings increases for the second half fiscal ending august due unit sales growth and improved operations expected market conditions have improved that demand for automotive replacement parts gradually and steadily expanding echlin president frederick mancheski said earlier echlin reported first half fiscal ended feb earnings mln dlrs cts share from mln cts share the prior year first half also echlin said had second quarter net income mln dlrs cts per share compared with net income mln dlrs cts share fiscal second quarter reuter 
earn	att cost cutting efforts target american telephone and telegraph chairman james olson said very pleased with the company efforts far cut costs told meeting securities analysts that although the company not yet point its cost cutting drive improve profit margins the right track olson said att cash flow was very strong the first two months the year better than budgeted while olson does not know the company earnings and revenues will improve yearend said att moving the proper direction for att earnings dropped mln dlrs five cts share revenues billion dlrs from billion dlrs dlrs share revenues billion dlrs during att took billion dlrs charges from expenses related reducing its work force reuter 
trade	japan opens home market fish japan has agreed drop barriers american caught herring and pollock opening the way for shipments that could reach mln dlrs annually trade representative clayton yeutter announced yeutter said the accord was reached after extensive bilateral negotiations that ended earlier today tokyo said the commerce department estimated shipments processed pollock products and herring should rise mln dlrs this year and more than mln dlrs annually later years there was immediate assessment the value current shipments but officials said the pact would lift quotas the point that americans would able ship nearly all the pollock and herring ordered japanese firms the same time yeutter said washington was temporarily suspending complaint with the general agreement tariffs and trade gatt that japan was unfairly curbing imports the two fish said the complaint would reviewed later this year after assessment see japan lived the agreement reuter 
acq	first financial ffmc acquires tel data first financial management corp said acquired the data processing contracts and certain related assets tel data for about mln dlrs cash plus the assumption certain liabilities about mln dlrs tel data serves about bank and thrift institutions through processing center lombard illinois first financial offers data processing services over financial institutions through data processing centers reuter 
earn	mcm corp mcmc sets quarterly qtly div six cts six cts prior pay april record march reuter 
earn	thackeray corp thk year loss oper shr loss cts loss cts oper net profit profit sales mln mln avg shrs reuter 
earn	allied lyons sees substantial second half growth allied lyons plc will report substantial growth the second half fiscal ended march chairman derrick holden brown said answer reporters queries you will certainly see substantial growth allied lyons the second half holden brown said following presentation toronto securities analysts holden brown declined say whether second half growth profit before taxes would exceed the pct rise reported the first half allied lyons had first half profit mln stg from mln stg the prior year allied lyons will also have full year extraordinary cost slightly more than seven mln stg for defence costs associated with elders ixl ltd failed take over bid for the company holden brown also said but that cost will more than offset extraordinary gain about mln stg allied lyons sale its pct interest australian brewers castlemaine toohey said with australians you win some and you lose some but hopefully you win them all the end holden brown said asked thought allied lyons vulnerable other take over attempts holden brown replied don must never complacent and must always very watchful but think would very expensive said holden brown said allied lyons share price corporate earnings ratio now comparable with other leading companies the food and beverage industry that was not the case two years ago the australians had come little bit earlier they might have had more luck think holden brown said holden brown said allied lyons move acquire hiram walker gooderham and worts ltd march during elders take over bid for the company was pct growth action knew when did that could misconstrued and that people almost inevitably would say the acquisition was defensive but never was holden brown told reporters asked securities analysts allied lyons plans share issue canada after acquiring pct interest hiram walker holden brown responded plan might too strong word but must say feel the need for allied lyons better known canada reuter 
earn	dryclean usa year net shr cts cts net revs mln mln reuter 
acq	commercial credit ccc unit sells division commercial credit said its american health and life insurance sold its ordinary life insurance business american national insurance anat american national will assume the business later than august commercial credit said the sale part restructuring program begun commercial credit subsidiary late the company said reuter 
acq	delta says court order will not delay merger delta air lines dal said court order requiring western air lines wal arbitrate with two its unions will not delay the april merger between the two airlines the order which was issued the ninth circuit court appeals requires western discuss with its two unions whether western labor contracts will binding for delta delta said nevertheless the court order could cause significant personnel problems including the possible delay wage increases delta had planned give the western personnel april ronald allen delta president said delta said feels the court has erred and should reconsider the order reuter 
acq	integrated generics ign may sell pct unit integrated generics inc said discussing with unnamed pharmaceutical distributor the sale pct its development corp subsidiary for dlrs integrated said its subsidiary biopharmaceutics negotiating with the same unnamed distributor sell five prescription drugs the company said can release other details this time reuter 
earn	navistar nav higher earnings opinion navistar international corp stock rose after brokerage house sanford bernstein and raised its earnings estimate the company based expectations better truck orders and truck tonnage traders said navistar led the active list with gain volume mln shares traders familiar with the opinion said that david eisenberg director sanford bernstein and institutional strategy committee raised his earnings estimates cts share for the current fiscal year ending october expects navistar earn dlrs share next year the company lost cts share eisenberg was unavailable for comment reuter 
acq	icn pharmaceuticals icn seeking acquisition icn pharmaceuticals inc has about mln dlrs cash and another billion dlrs available credit which intends use buy pharmaceutical company chairman milan panic said the company annual meeting said acquisition could take place the next months the company has nearly two billion dlrs available for acquisition today panic said adding are investigating number companies one company being studied could possibly acquired friendly basis said panic also said intends seek board approval today repurchase three mln icn common shares discussing the possibility acquisition panic said the such purchase necessary because icn current marketing capability would not sufficient support distribution the company products given icn expectations for market growth worldwide icn principal product ribavirin also known virazole the drug marketed number countries and described broad based anti viral the company has said its possible applications include treatment some types hepatitis herpes influenza childhood diseases and hemorrhagic fevers icn has been the focus consirable investor attention recent months because virazole which has undergone clinical trials possible treatment some aids related diseases panic said today would not discuss the drug with regard aids until the food and drug administration completes its review data submitted the company said investigation the drug being conducted house subcommittee continuing the subcommittee and the fda have acknowledged they are conducting separate investigations determine whether not icn witheld data from the fda adverse reactions the drug virazole approved for marketing the aerosol form treatment for infection that strikes infants called respiratory syncytial virus reuter 
earn	justin industries inc jstn sets dividend qtly div cts cts prior pay april record march reuter 
earn	scholastic inc schl qtr feb net shr dlrs cts net rev mln mln nine months shr dlrs cts net rev mln mln note qtr net includes extraordinary gain mln dlrs versus dlrs for fiscal third quarter and non recurring pre tax gain dlrs reuter 
earn	kleinwort benson kba unit sets first dividend kleinwort benson international investment ltd subsidiary kleinwort benson australian income fund closed end management investment company declared its first quarterly dividend cts payable april shareholders record april reuter 
money-fx	finance officials discuss debt currencies deputy finance ministers from the group leading western industrialised countries met here discuss the world debt crisis trade imbalances and currency stability today following last month paris monetary accord sources close the talks said the officials met the offices the international monetary fund imf discuss broad aspects world monetary policy preparation for the imf interim committee meeting washington april the talks were the first high level international review the monetary situation since the accord last month reached the west germany france britain japan and canada stabilise world currency markets around present levels following the pct slide the dollar since mid other countries represented today talks were italy which refused attend last month meeting the grounds that was being excluded from the real discussions the netherlands belgium and switzerland many the officials had met earlier today and yesterday within the framework the organisation for economic cooperation and development oecd review the slow progress being made cutting the record billion dlr trade deficit and persuading west germany and japan open their economies more foreign imports reuter 
earn	vernitron corp vrn qtr and year loss oper shr loss cts loss cts oper net loss loss revs mln mln mths oper shr loss cts profit cts oper net loss profit revs mln mln note qtr and prior qtr excludes loss discontinued operations and respectively year and prior excludes loss discontinued operations and respectively qtr and year excludes tax loss and loss respectively qtr and year prior excludes tax gain and respectively reuter 
earn	goody products inc good year end oper net oper shr cts oper net revs mln mln note and oper net excludes loss dlrs and profit dlrs respectively for discontinued operations earnings per shr are restated reflect for stock split effective july one reuter 
earn	vms mortgage investors vmlpz montly div dist nine cts nine cts prior payable may record april one reuter 
earn	peps boys manny moe and jack pby set payout qtly div cts cts prior pay april record april one reuter 
earn	vms mortgage investors vmtgz raises payout vms mortgage investors said raised its first quarter cash dividend cts from cts the prior quarter payable may shareholders record april one reuter 
ship	freight insurance proposed for ccc sales usda the agriculture department proposing permit coverage freight cost and marine and war risk insurance for sales all agricultural commodities sold credit terms under the commodity credit corporation ccc credit guarantee programs the proposal only applies commodities that are sold exporters cost and freight and cost insurance and freight cif basis since these costs would included the exporter sale price the foreign buyer said under current programs freight costs can covered only for export sales breeding animals asked for comments the proposal april reuter 
acq	clark equipment ckl buys mln shares clark equipment said has purchased shares its common stock from investor group led arthur goldberg for dlrs share said the purchase reduces the number shares clark common stock purchased under its stock repurchase plan announced march the time the company said would buy back mln shares pct the outstanding stock clark equipment also said the investor group agreed enter into standstill agreement which prohibits members the group from purchasing shares voting securities clark for years reuter 
acq	yankee cos ynk unit sell asssets yankee cos inc eskey inc esk subsidiary said reached agreement principle sell its eskey yale key inc subsidiary new concern formed key management and private investor for about mln dlrs part sale eskey said the buyers will assume the mln dlrs publicly held eskey pct debentures due said the debentures will continue converted into yankee preferred the remainder the price will one mln dlr note eskey yankee said the sale will result loss mln dlrs reuter 
acq	wendy wen declnes comment market rumors wendy international inc declined comment vague rumors traders that might takeover target wendy currently trading one turnover more than mln shares wendy spokesman said was corporate policy not comment market rumors further declined attribute active trading wendy stock published report which stated wall street professionals believe that wendy was possibly being studied coca cola with view possible acquisition reuter 
acq	goody good sell unit union camp ucc goody products inc said entered into agreement sell its and myers packaging business union camp corp focus its consumer products and automated distribution system businesses terms the agreement were not disclosed reuter 
acq	champion parts creb asks declaratory judgment champion parts rebuilders inc said asked the federal district court chicago for declaratory judgment upholding its recent mln dlr sale common shares and warrants echlin inc ech champion said hearings thursday morning before the federal judge its lawsuit charging federal securities law violations against cormier corp odilon cormier morris navon and other defendants the cormier navon defendants indicated they would challenge the transaction champion suit claims that various champion investors alligned themselves with cormier and navon who failed disclose properly under federal laws that they were acting concert and they intended spin off parts the company and sell the balance within two years once they got control reuter 
acq	cyacq raises offer for cyclops dlrs share from dlrs 
earn	great country bank gcbk qtr net qtr ends feb shr cts net nine mths shr dlrs net assets mln mln deposits mln mln loans mln mln note earnings per share data not presented for great country bank converted from mutual capital stock savings bank jan such information misleading and inappropriate the company said reuter 
earn	marcus mrcs votes pct stock dividend marcus corp said its board voted pct stock dividend distributed may record april said the dividend applies equally holders its common stock and class common reuter 
earn	vms mortgage vmtgz cash distribution rises vms mortgage investors said declared first quarter cash distribution cts depositary unit five pct from the prior quarter said the distribution will payable may record january reuter 
acq	audio video ava sweetens bid for cyclops cyl investment group led audio video affiliates inc said raised its tender offer acquire cyclops corp dlrs share from dlrs share the group cyacq acquisition corp also said extended the offer until april three from march the group said added several conditions its offer including receipt all non public information about cyclops that was provided dixons group plc connection with dixon competing tender offer for cyclops cyacq sweetened offer totaling about mln dlrs tops dixon offer dlrs share about mln dlrs wednesday dixon said had bought pct cyclops mln shares outstanding boosting its stake the company pct earlier today however the securities and exchange commisssion ordered dixons extended its tender offer until march cyacq said hopes cyclops shareholders will withdraw previously tendered shares from dixons tender offer take advantage cyacq higher offer the sec order came after cyacq filed suit block dixons from taking control cyclops and force extension dixons tender offer cyclops spokeswoman said the company had immediate comment the sweetened bid from cyacq cyacq said its new offer also subject cyclops rescinding any agreements with dixons under which the based firm would receive break fees expenses from cyclops could buy cyclops common stock from the pittsburgh based company reuter 
earn	emerald homes ehp sets initial distribution emerald homes said its general partners declared initial per unit distribution payable may unitholders record march emerald made its initial public offering february reuter 
acq	jefferies makes market cyclops cyl jefferies and said making market the stock cyclops corp cyclops received sweetened offer dlrs per share from cyacq acquisition corp led audio video affiliates inc ava reuter 
acq	bei beih acquires ivey rowton and associates bei holdings ltd said acquired ivey rowton and associates nashville tenn based bank marketing firm terms were not disclosed reuter 
earn	southern home savings bank shsb year net shr dlrs dlrs net reuter 
earn	binks mfg bin regular dividend set qtly div cts cts previously pay april record march reuter 
earn	west inc wst sets regulary payout phoenixville march qtrly div cts cts prior pay may record april reuter 
acq	firm sells entire allegheny int stake southeastern asset management inc and its two controlling shareholders said they sold their entire pct stake allegheny international inc filing with the securities and exchange commission southeastern memphis tenn investment advisor said sold the entire share stake between march and prices ranging from dlrs each reuter 
acq	japanese firm has pct sheldaul shel sumitomo bakelite ltd japanese company told the securities and exchange commission has acquired shares sheldahl inc pct the total outstanding common stock sumitomo bakelite said bought the stock for mln dlrs for investment purposes under between sumitomo bakelite and sheldahl long its stake more than five pct sumitomo said has preemptive rights for days following notice issuance new sheldahl common stock long its stake over pct said entitled sheldahl board representation reuter 
earn	commonwealth edison cwe months net period ended feb shr dlrs dlrs net revs billion billion avg shrs note per share earnings reflect payment preferred dividend requirements reuter 
acq	john hancock units dump stake price subsidiaries john hancock mutual life insurance told the securities and exchange commission they sold their entire pct stake price communications corp back the company the hancock subsidiaries said they sold their entire share stake price communications the company for dlrs share feb reuter 
earn	niagara mohawk nmk cut costs niagara mohawk corp said cautiously optimistic about results improvements for and said studying measures cut operating costs these measures include freezing management salaries abolishing vacant positions and reducing overtime spokesman said the company had current plans lay off workers the company declined say how much the cost savings would amount five year forecast expected issued early summer spokesperson said the company said has redeemed about mln dlrs high cost debt during and hopes redeem more debt this year for niagara mohawk earnings per share fell dlrs from dlrs the company said earnings reduced primarily result reduction early earnings return equity allowed the state public service commission niagara said concerned about the continued lowering authorized return and has reinforced petitions grant fair return equity reuter 
earn	gantos inc gtos qtr jan net shr cts cts net revs mln mln year shr cts cts net revs mln mln avg shrs note fiscal year ended feb reuter 
acq	chemlawn corp echolab inc sign definitive merger agreement 
earn	inc qtr net shr cts cts net mln mln revs mln mln year shr cts cts net mln mln revs mln mln avg shrs mln mln reuter 
earn	vms mortgage vmlpz monthly cash payout vms mortgage said declared regular monthly cash distribution nine cts depositary unit for the month march payable may record april one reuter 
acq	chemlawn chem ecolab econ merger pact chemlawn corp and ecolab inc said they signed definitive merger agreement under which ecolab will buy all outstanding chemlawn common stock for dlrs share cash for total about mln dlrs under terms the agreement chemlawn said rescinded its previously announced rights dividend plan chemlawn previously rejected dlr share offer from waste management inc wmx yesterday the oak brook ill based waste disposal company said was prepared offer dlrs share about mln dlrs for chemlawn lawn care company chemlawn had said last week that was negotiating with other possible suitors which did not identify chemlawn spokesman said further details the merger would issued later ecolab maker commercial laundry detergent based paul minn for its first six months ended december the company earned mln dlrs cts share sales mln dlrs officials waste management could not reached for immediate comment reuter 
earn	lilco revises net include mln dlr loss provision 
earn	falcon cable fal sets initial distribution falcon cable systems said its set initial quarterly cash distribution cts per unit payable may unitholders record march the partnership made its initial public offering december falcon said expects pay cash distributions limited partners annual rate dlrs per unit through december reuter 
crude	bids awarded for elk hills crude oil the department energy said has awarded bids for about barrels per day bpd crude oil from the elk hills naval petroleum reserve california the contract period runs from april one through july one the doe said successful bidders the amount crude oil and the price per bbl according the doe are follows texaco inc texaco trading and transport bpd dlrs and bpd dlrs beacon oil bpd dlrs and bpd dlrs golden west refining bpd dlrs successful bidders the amount oil and price per bbl according the doe continue follows chevron chv chevron usa inc bpd dlrs and bpd dlrs chevron international oil bpd dlrs and bpd dlrs newhall refining bpd dlrs caljet inc bpd dlrs casey bpd dlrs also cryssen refining inc bpd dlrs edgington oil bpd dlrs sound refining inc bpd dlrs atlantic richfield arc bpd dlrs successful bidders the amount crude oil and the price per bbl according the doe continue follows orkin inc bpd dlrs lunday thagard bpd dlrs golden eagle refining bpd dlrs macmillan ring free oil bpd dlrs bpd dlrs and bpd dlrs mock resources bpd dlrs petro diamond bpd dlrs reuter 
earn	montgomery street income mts monthly dividend mthly div cts cts pay april record april reuter 
earn	sullivan mines inc year loss oper shr loss cts profit four cts oper loss profit revs mln mln note shr and net exclude extraordinary gain dlrs four cts share shr and net exclude extraordinary gain dlrs two cts share reuter 
acq	investment firm has pct cyclops cyl halcyon investments new york risk arbitrage and securities dealing partnership told the securities and exchange commission has acquired shares cyclops corp pct the total outstanding halcyon said bought the stake for mln dlrs part its ordinary risk arbitrage and securities trading business other than that the firm said there was specific purpose its purchases halcyon said might buy more stock sell some all its current stake said bought the bulk its stake between feb and march reuter 
acq	chrysler credit canada placed creditwatch canadian bond rating service said placed chrysler credit canada ltd subsidiary chrysler corp creditwatch until all financial details concerning the proposed acquisition american motors corp amo are finalized the creditwatch affects chrysler credit canada short term notes guaranteed notes debentures and the recently completed mln dlr eurobond issue due april canadian bond rating service said that based facts currently available the proposed transaction does not anticipate the necessity downgrade canadian bond rating service said chrysler credit canada short term notes are now rated high and guaranteed notes and debentures are rated plus plus high reuter 
earn	lilco lil revises net include loss long island lighting said revised its preliminary net income include mln dlrs after tax provision for its investment the jamesport nuclear units due the provision said its revised net income was mln dlrs dlrs per share after deducting for preferred stock dividend requirements which were not paid either had earlier reported income mln dlrs dlrs per share lilco also said its board authorized contracts for its corporate officers calling for payment one year salary and continuation insurance and retirement benefits the company changes hands and these officers lose their jobs lilco said none these contracts will result additional costs its customers lilco said the downward revision its earnings reserve established reflect settlement agreement with the staff new york state public service commission respecting the utility spending nuclear power station planned for but never built jamestown the company declined detail the settlement explaining the settlement has not been approved the commission lilco was seeking include costs totaling mln dlrs for the abandoned nuclear power plant project its rate base spokeswoman said reuter 
acq	rogers rog adopts rights plan rogers corp said its board approved shareholder rights plan designed protect its shareholders the event attempted hostile takeover rogers said the plan not being adopted response any specific takeover attempt under the plan shareholders may buy one share common stock dlrs for each share held the rights will exercisable only person group acquires pct more rogers shares announces offer for pct more the dividend distribution will made march holders record that date reuter 
earn	eastgroup properties egp dividend jackson miss may qtly div cts cts prior payable april record april note company paid cts special dividend along with prior quarter dividend reuter 
earn	sunbelt nursery group inc sbn qtr feb shr loss cts loss cts net loss mln loss mln revs mln mln six months shr loss cts loss cts net loss mln loss mln revs mln mln reuter 
earn	marcom telecommunications mrcm qtr jan oper shr loss five cts loss six cts oper net loss loss revs avg shrs six mths oper shr loss seven cts loss cts oper net loss loss net avg shrs note current year qtr and six mths excludes loss dlrs for discontinued operations prior year qtr and six mths excludes loss dlrs and dlrs for discontinued operations full name company marcom telecommunications inc reuter 
earn	eastpark realty trust ert qtly div qlty div cts cts prior payable april record april reuter 
trade	canada clark sees trade most urgent problem trade the most urgent problem facing canadian relations because pressing need reach new bilateral pact within the coming months joe clark canadian secretary state for external affairs said negotiators for the two countries have been meeting for more than year effort work out agreement the most urgent problem now the trade question because that has decided within the next months clark told the commonwealth club california have fast track authority from your congress for approval rejection whatever the negotiators achieve clark said that practical matter initial agreement must reached late september early october listed environmental questions particularly acid rain and defense the second and third most important bilateral issues facing ottawa and washington wednesday president reagan announced that will seek billion dlrs from congress address the acid rain problem some interpreted the move goodwill gesture advance his annual meeting april ottawa with prime minister brian mulroney question and answer session with the public affairs group clark said that the two countries must find better mechanisms for resolving their trade disputes this rash countervailing actions where acted corn and you acted soft wood and both said they were quasijudicial the dispute resolution mechanisims place now are not working adequately either our interests said ottawa also seeking change some washington rules government procurement that penalize canadian businesses said there are number canadian companies that order secure substantial contracts the united states have had move their head offices out our country into your country because you have national procurement requirements said turn added the united states would like change some the procurement requirements that exist the provincial government level canada clark declined forecast the outcome the discussions what will come out remains for the negotiators the first instance propose and then governments and congresses will have judge said his prepared remarks clark said that the united states has tended take canada for granted although exports its northern neighbor more than twice what exports japan yet you bought almost per cent more from japan last year than you bought from canada said reuter reuter 
earn	essex corp esex year end loss oper shr loss cts profit cts oper net loss profit revs mln mln note and oper net excludes loss dlrs cts per share and loss dlrs cts per share for discontinued operations reuter 
earn	sulpetro ltd year oct loss shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note shr results after deducting preferred share dividends mln dlrs both periods current loss includes mln dlr writedown oil and gas properties mln dlr writeoff deferred charges mln dlr loss disposal properties mln dlr equity loss from affiliate sulbath exploration ltd and mln dlr loss other investments reuter 
earn	stanwood corp snw qtr jan shr loss dlrs profit one cts net loss mln profit dlrs revs mln mln year shr loss cts profit cts net loss profit revs mln mln note qtr includes loss for termination licensing agreement and loss dlr for termination womens wear operation reuter 
earn	sulpetro loss due writedowns asset disposals sulpetro ltd said its fiscal year net loss mln dlrs dlrs per share was due several factors the largest which was writedown mln dlrs oil and gas properties sulpetro also recorded writeoff deferred charges amounting mln dlrs loss mln dlrs the disposal all properties the united kingdom and equity loss mln dlrs from affiliate sulbath exploration ltd there was also loss other investments mln dlrs and loss operations mln dlrs after interest depletion depreciation and income tax recoveries the fiscal year ended october sulpetro had net loss mln dlrs dlrs per share the company also said its non recourse project financing for the irish lindergh heavy oil field remains default due continuing low oil prices reuter 
acq	american express axp discuss shearson deal american express board directors monday will discuss the company arrangement sell pct shearson lehman brothers inc nippon life insurance company spokesman said the spokesman would not say whether the board planning vote the understanding between american express and nippon life the shearson stake sold for mln dlrs american express has said the spokesman also would not comment speculation that the board was discuss sale securities the public monday board meeting regular monthly meeting the plan sell part shearson nippon life must approved the american express board and japan ministry finance earlier american express and shearson said they were subpoenaed the securities and exchange commission american express said was subpoenaed for documents pertaining securities transactions american express and fireman fund shearson was subpoenaed for documents related transactions with jefferies and and others the american express spokesman said could not comment whether any officials the firm were subpoenaed reuter 
trade	senators say sanctions likely microchips the united states will likely impose sanctions soon imports japanese microchips senators said today after private meeting with commerce secretary malcolm baldrige although the senators said baldrige told them decision would taken until final determination made whether japanese microchips were dumped the united states they said they were virtually sure japan would face penalties president reagan trade policy advisory group which baldrige member will meet the issue wednesday confident will see action taken sen john mccain arizona republican told reporters expecting sanctions least and even more than sanctions sen pete domenici new mexico republican said the senators several congressmen and semiconductor industry representatives met with baldrige and state department officials discuss japan alleged violations september agreement stop dumping its microchips the united states and other countries they recommended japanese firms penalized through tariffs import duties over the next six months for continuing dump microchips the violations were worth mln dls the japanese semiconductor industry they said asked baldrige intended recommend sanctions sen pete wilson told reporters the clear import what said that there will japan can just say they will comply think sanctions must applied for past violations the agreement the california republican said the semiconductor industry produces microprocessor chips which are used high technology products ranging from radios defence missile guidance systems sen james mcclure idaho republican said baldrige told them the administration had not made final determination that japanese companies had dumped semiconductor microchips below the cost production the united states other countries but mcclure said senators told him there doubt dumping going based evidence such invoices purchases the japanese products the two countries signed pact last september which japan agreed stop selling its microchips the united states and other countries below production costs and allow the semiconductor industry access the japanese market return the united states waived its right impose import duties the japanese microchips japanese officials have said they have lived the pact and have asked japanese chip makers further slash output save the pact japan has frequently been the target congressional discouragement over last year record billion dlr trade deficit tokyo had billion dlr surplus with the united states last year and had large surpluses with other countries the senate yesterday unanimously passed resolution calling for action against japan for violations the pact since september the resolution will introduced the house next week rep bob matsui california democrat reuter 
earn	multi media sees year end loss multi media barter ltd said expects report net loss dlrs cts share for the year ended december compared loss cts share the prior year the fourth quarter resulted net loss four cts compared loss six cts shares last year said currently the process restructuring reducing expenses and streamlining operations and has cut expenses from dlrs less than dlrs month reuter 
earn	national hmo corp nhmo qtr jan shr loss nine cts profit nine cts net loss profit revs mln mln six months net loss profit revs mln mln note net loss includes writeoff deferred start costs totaling dlrs reuter 
earn	minorco mnrcy half year dec shr cts cts net mln mln note net includes one mln dlr extraordinary gain and net icludes four mln dlrs extraordinary loss reuter 
earn	minorco mnrcy sees improved second half minorco said expects net earnings substantially stronger than the mln dlrs reported for the first half reporting that first half results declined from mln dlrs minorco said the contributions from its pct investment december adobe resources corp was negative result low oil and gas prices reuter 
earn	minorco mnrcy sees improved second half minorco said expects net earnings substantially stronger than the mln dlrs reported for the first half reporting that first half results declined from mln dlrs minorco said the contributions from its pct investment december adobe resources corp was negative result low oil and gas prices reuter 
earn	neoax inc noax qtr shr loss cts loss six cts net loss mln loss revs mln mln year shr profit cts profit cts net profit mln mln revs mln mln note qtr and year net reflects dividend requirements mln dlrs and mln dlrs and charges dlrs and mln dlrs respectively which not accruable payable because pre reorganization tax loss carryforwards qtr and year net reflects dividend requirement mln dlrs and mln dlrs respectively and charges dlrs and mln dlrs respectively which not accruable payable because pre organization tax loss carryforwards reuter 
money-fx	zimbabwe dollar devaluation central bank zimbabwe reserve bank the nation central bank has denied the zimbabwe dollar would devalued bank governor kombo moyana told the herald daily newspaper unfortunate and completely unfounded speculation that depreciation the zimbabwe dollar was about occur had aggravated serious foreign exchange shortage during february and the early part march this speculation caused importers bring forward their payments and exporters delay long possible the inward remittance export receipts resulting significant slowdown net foreign exchange inflows added reuter 
crude	world bank likely urge changes jakarta world bank president barber conable expected press indonesia the third world sixth largest debtor maintain the momentum economic policy changes tackle the slump its oil revenues western diplomats said conable who flew indonesia yesterday from tokyo will meet with president suharto and senior economic ministers said arrival that the economy south east asia largest nation was being managed well but the slump world oil prices called for major policy adjustments today the world bank chief will visit bank funded projects the eastern section java indonesia most populous island will see suharto tuesday after day detailed discussions with ministers tomorrow indonesia the only asian member opec has been severely hit last year crash oil prices which cut its oil and gas revenues half japan state export import bank last month agreed provide around mln dlrs untied credits help indonesia pay for its share world bank development projects indonesia country mln people has responded the oil slump cutting spending devaluing its currency pct and trying boost exports while using foreign loans bridge its deficit diplomats said that conable was expected press suharto and leading economic ministers maintain the pace policy change particularly dismantling indonesia high cost protected economy oil prices the debt crisis the world recession all call for major policy adjustments and external support conable said his arrival statement but with indonesia facing parliamentary elections next month likely avoid anything which would imply that the bank demanding specific changes believe there has been wise leadership here and the economy being very well managed conable told reporters jakarta airport indonesia has official and private overseas debts totalling billion dlrs according the bank which makes the third world sixth biggest debtor has received billion dlrs from the world bank since conable did not spell out what further changes would like see last month the bank endorsed economic changes already introduced indonesia but implied wanted more giving mln dlr loan balance payments support the bank said will monitor progress implementation the government trade reform measures and supported its determination promote efficiency and longer term growth indonesia has introduced series measures since last may boost non oil exports liberalise trade and encourage outside investment suharto has also ordered government committee look into which indonesia state run companies could sold but report last month the embassy said the government appeared divided over how far take its reforms western analysts say that particular the government unsure how far with dismantling indonesia high cost monopolies which control core areas the economy central bank governor arifin siregar said this week that indonesia faced very limited economic choices could not spend its way out trouble because this would increase the balance payments deficit and domestic inflation said the main objective was raise exports outside the oil and natural gas sector indonesia current account deficit projected the government fall billion dlrs the coming financial year which starts april from estimated billion reuter 
money-fx	nigeria changes auction rules defend the naira nigeria central bank has changed the rules governing its foreign exchange auctions what analysts see means defending the naira currency which has depreciated steadily the bank said statement that from april banks bidding for foreign exchange would have pay the rate they offered and not presently the rate the lowest successful bid made the auction this should discourage banks from bidding high ensure that they were successful while paying the lower marginal rate analysts said should act brake because banks will know that they bid high they will have pay what they offered western diplomat commented the naira has depreciated against the dollar pct since the auctions known the second tier foreign exchange market sfem began last september last week session the nigerian currency was fixed the dollar the third fall row they were clearly worried and this the logical way trying stop the trend the diplomat said the central bank also announced the auctions would fortnightly not weekly beginning april was not immediately clear whether next thursday scheduled session would still take place nor the bank was planning double the mln dlrs which are normally offer each auction demand for foreign exchange has consistently outstripped supply encouraging banks bid high and thus further weakening the naira the normal weekly allocation not doubled the fortnightly session high demand could undermine the objective the new system analysts said although bidding banks will now pay what they offered the official exchange rate for the naira applying business transactions will continue the marginal rate the lowest successful bid sfem central part nigeria structural adjustment program which considered the most ambitious economic recovery plan black africa the program involves setting realistic exchange rate for the naira which was over valued for many years liberalising imports boosting agriculture removing subsidies and reducing inefficient government participation the economy the world bank has played prominent part designing this dramatic blue print and selling often sceptical public which fears inflation and lower living standards ishrat husain the world bank representative nigeria said yesterday was satisfied both with the adjustment program whole and the foreign exchange auctions far good told meeting bankers lagos adding that only members nigeria import dependent elite would suffer hardship while the common man would benefit fears that the program would encourage inflation were incorrect said bumper harvests had reduced rural inflation and urban prices had already reflected the naira black market value before the currency was allowed find its true level last september reuter 
trade	next world trade negotiations must succeed ministers from more than nations were told new zealand that the next international negotiations liberalising trade would the last this century and the cost failure could not measured trade minister mike moore told his colleagues welcoming ceremony before two days talks here that great progress had been made preparing for the negotiations which must not sidetracked live troubled and dangerous times for the world trading system said have seen that the failure the world trading system has caused great depression and conflict the past our failure maintain the momentum will great cost all moore said added the cost failure beyond calculation our last hope and best opportunity this century will not get another chance before the year the ministers are new zealand review world trade since the uruguay round talks last sepember the meeting also part preparations for full scale conference the general agreement tariffs and trade gatt venice june the uruguay meeting considered most countries have been particularly successful with northern hemisphere countries managing have service industries such banking and insurance included the next full round the southerners goal including agricultural and tropical products also was met the meeting this north island tourist resort described participants informal and declaration expected moore said one aim was instil sense political urgency avert potential economic tragedy another was seek ways popularising freer trade people who felt the pain readjustment but could not see the benefits well preventing bush fires confrontation while proceed with orderly negotiations the meeting being attended overseas delegations including representatives gatt and the economic community the delegates include trade representative clayton yeutter american sources say ready state that the best way reverse protectionist sentiment the united states implement four key uruguay proposals end agricultural subsidies inclusion trade services and investments gatt regulations tightening restrictions pirating called intellectual property such trademarks patents and copyrights new rules resolve trade disputes among gatt member states earlier new zealand sources had said french foreign trade minister michel noir had pulled out the informal gatt talks for domestic political reasons cabinet chief bernard prauge will lead the french delegation reuter 
acq	australian offer for san miguel shares diversified investment company ariadne australia ltd has offered billion pesos for mln shares the philippine brewing firm san miguel manila newspaper reported the sunday times quoted letter sent yesterday president corazon aquino from ariadne chairman new zealander bruce judge that was offering cash equivalent five pct the nation yearly budget buy the shares from the government the presidential office and ariadne representatives manila were not available for comment the report the shares are the entire block seized the government from the united coconut planters bank ucpb suspicion that the real owner was eduardo cojuangco the former chairman san miguel and ucpb and close associate deposed president ferdinand marcos the mln shares consist mln class stock and mln class shares government officials have said earlier that the more valuable class shares would not sold foreigners the offer values each share pesos the price which the philippine social security system suggested might buy eight mln class shares last week judge offer billion pesos about five pct the philippines yearly budget ariadne philippine agent domingo panganiban was quoted telling reporters yesterday judge objective this investment make his corporation management expertise available san miguel that the company assets can fully utilised san miguel the country largest brewer also one the major manufacturers grocery lines panganiban quoted saying that san miguel could tap food and liquor distribution lines australia britain the new zealand and hong kong through barwon farmlands ltd listed australian firm which has pct equity ariadne with about one billion dlrs assets and turnover about two billion has interests also mining real estate and agricultural products reuter 
earn	alitalia spa azpi calendar provisional net profit billion lire billion turnover billion billion note official results for alitalia italy national airline which controlled the state industrial holding company istituto per ricostruzione industriale iri are expected announced annual shareholders meeting april reuter 
crude	explosion oil refinery scotland explosion followed fire ripped through british petroleum oil refinery killing one man spokesman said the fire was confined one plant the acre refinery grangemouth miles west edinburgh the cause and extent the damage had yet determined two people were killed previous explosion and fire the plant march that incident still being investigated the spokesman said reuter 
acq	australian plans philippine branch for takeover the australia based ariadne australia ltd plans set branch the philippines fulfill prerequisite for the takeover the philippine brewing firm san miguel corp hong kong newspaper said the hong kong economic journal quoted spokesman australian stock broker jacksons ltd saying that barwon farmlands ltd listed australian firm which ariadne owns pct stake planning branch the philippines added jacksons arranging offer barwon pay total billion pesos cash for mln san miguel shares barwon offering pesos each for mln class san miguel shares and mln class stock but the jacksons spokesman noted that the more valuable stock would only sold filipinos companies registered the philippines said barwon has approached the philippine government which seized the block shares from the united coconut planters bank which believed linked with the country deposed president ferdinand marcos added expects deal concluded between barwon and the philippine government days the only offer cash the newspaper reported hong kong economic journal also noted stock market rumours that neptunia corp hong kong registered company which controlled san miguel president andres soriano the other party keen the block san miguel shares the philippine commission good government ruled last may against move neptunia acquire mln san miguel shares controlled the brewery firm former chairman eduardo cojuangco who also chairman united coconut commissioner ramon diaz said the time the government would not allow subsidiary buy into parent firm adding san miguel could have offered the shares other parties the manila newspaper sunday times published letter sent yesterday president corazon aquino from ariadne chairman new zealander bruce judge that was offering cash equivalent five pct the nation yearly budget buy the shares from the government judge offer billion pesos about five pct the philippines yearly budget ariadne philippine agent domingo panganiban was quoted telling reporters yesterday spokesmen ariadne jacksons and neptunia were not available for comment nor any officials the philippines san miguel brewery ltd hong kong listed company which pct held neptunia behalf san miguel corp closed cents higher dlrs friday reuter 
earn	alitalia reports higher net profits italy national airline alitalia spa azpi reporting pct rise provisional net profit said carried seven pct more passengers domestic routes last year but pct fewer passengers flights from north america and canada alitalia said the drop north american traffic had been due general fall the numbers american tourists visiting europe caused fears terrorism the airline reported provisional net profit rose billion lire from billion spokesman said alitalia was hoping for increase traffic with the planned increase the number flights from italy new york per week reinstate flights boston and open the direct rome milan los angeles service the spokesman announced that from march alitalia would starting new weekly service shanghai for its summer programme would adding extra flights european destinations increase pct reuter 
earn	rafidain bank jordan branch raises capital the jordan branch iraq rafidain bank said will raise paid capital comply with the country minimum requirement five mln dinars drawing profits from its operations the country jordan government asked banks early comply with the new capital requirement raised from three mln dinars the start rafidain area manager adnan abdul karim azzawi told reuters the branch had now registered its capital the higher level but did not say how long would take pay the bank balance shows paid capital mln dinars banks jordan have generally complied with the higher capital requirement except chase manhattan which decided instead close its operation banking sources said local banks floated shares raise extra capital while the branches foreign banks brought additional cash banking sources said appeared that jordan had made exception rafidain case allowing longer comply they said the gesture refelcted close political ties between jordan and iraq well baghdad financial difficulties the jordan branch saw pre tax profit rise pct dinars assets mln dinars reuter 
money-fx	credit market outlook mini refunding hefty slice new treasury supply not the most welcome prospect for slumbering credit market but least this week offerings should provide with some focus economists said banks and mutual funds have cash that should put work the auctions should breathe some life into the market said economists merrill lynch capital markets inc the treasury will place billion dlr package two year four year and seven year notes the sales block this week the mini refunding which will raise billion dlrs new cash comprises billion dlrs two year notes for auction tuesday billion dlrs four year notes wednesday and billion dlrs seven year notes thursday the market also faces the regular weekly three and six month bill auction today amounting billion dlrs the mini refunding does not come particularly auspicious time for the market bond prices have been drifting sideways narrow range against the backdrop cloudy economic outlook diminished chances change federal reserve board policy and stable dollar moreover the bond market inertia has compared unfavourably with the rash activity taking place high yield markets overseas like the well equities but according the merrill lynch economists there are signs the pall hanging over the bond market lifting bit customer activity has been light but all the buy side and there marked absence selling they said weekly report philip braverman irving trust securities inc believes banks will snap the two and four year issues this week sales the banks are need investments that provide earnings though the yield spread the cost carrying these maturities has been wider still positive said weekly market review but economists agreed not even the auctions will generate enough impetus for major move this will only come once the overseas markets have had their run based last week events there little indicate that the appetite for yield has begun wane said economists salomon brothers inc indeed talk persisted last week that japanese investors are planning weight their portfolios favour the higher yielding markets the start japan new fiscal year april and while traditionally the japanese have not been big buyers the shorter dated issues offer this week auctions such reports undermine market confidence even actions the british australian and canadian monetary authorities curb the rise their currencies should also enhance the attractiveness their respective bond markets the salomon brothers economists said meanwhile ecomomic releases are unlikely enliven the market unless they deviate widely from expectations economists said this week economic calendar begins tuesday with february durable goods orders economists expect rebound from january depressed levels peter greenbaum smith barney harris upham and said several areas including transport equipment should have bounced back but decline military capital goods will cap total new orders forecasts rise two pct after january pct slump some other economists foresee gain large five pct friday consumer price report for february expected show increase about pct after pct january gain economists said energy prices the driving force behind the january rise rose more moderately last month while food prices declined meanwhile economists warned that the federal funds rate will subject volatility the weeks ahead due the approach quarter end and the mid april tax date some economists expect the fed execute bill pass this week because its adding requirement increases sharply the new statement period beginning thursday fed funds traded pct late friday and are expected open near that level reuter 
trade	gatt success will take pressure minister long term pressure trade ministers necessary the current uruguay round talks the general agreement trade and tariffs gatt succeed new zealand overseas trade minister mike moore said moore told the opening meeting trade ministers from nations gathered for informal talks the gatt that ministers need opportunities keep touch and consider how the political problems inherent exercise like this one can faced and resolved moore said the taupo meeting one series such international gatherings which includes the oecd ministerial meeting may and the meeting venice june enabling ministers maintain contact world trade conditions are getting better not worse said said new zealand moving rapidly and our own initiative the direction liberalisation and warn you shall looking for partners reuter 
interest	japan long term prime seen cut record low soon japan long term banks will soon cut their prime rate now record low pct percentage point response falling secondary market yields their five year debentures long term bankers said the long term prime rate customarily set percentage point above the coupon five year bank debentures issued the long term banks every month the latest bank debentures pct have met strong end investor demand the prospect further declines yen interest rates dealers said the current pct prime rate has been effect since february reuter 
trade	yeutter sees japan verging trade conflict the united states and japan are the brink serious conflict trade especially over semiconductors japanese unwillingness for public bodies buy super computers and barriers firms seeking participate the eight billion dlr kansai airport project trade representative clayton yeutter said was talking reporters yesterday the eve two day meeting trade ministers which will review progress made committees set after the uruguay meeting last september launched new round gatt general agreement tariffs and trade talks european community commissioner willy clercq meanwhile told reporters conflict between the world three major trading and economic powers the the and japan set poor example for other members gatt australian trade minister john dawkins told the reporters bilateral retaliation the enormous expense the rest the world was way solve trade disputes new zealand trade minister mike moore told his colleagues great progress had been made preparing for the current round gatt negotiations which must not sidetracked the ministers have said they want maintain the momentum towards fresh negotiations avert serious trade conflicts yeutter said the problem with international trade talks was that they tended get bogged down for years countries don get very serious about negotiating until the end the day which maybe five six years the future also said did not consider the new congress protectionist was months ago that very healthy development added you asked about that year months ago would have said that was terribly protectionist members congress that the contemplative members congress have begun realise protectionism not the answer the billion dlr trade deficit yeutter said they also begun realise that you cannot legislate solutions billion dollar trade deficit they are more realistic and judgement more responsible that issue than they were months ago added whether that will reflected the legislation that eventually emerges another matter reuter 
ship	iran says intends threat gulf shipping iran said reports that intended threaten shipping the gulf were baseless and warned the and other countries not interfere the region tehran radio monitored the bbc quoted foreign ministry spokesman saying any attempt interference would met strong response from iran and other moslems the world defence secretary caspar weinberger remarks apparently unrelated the broadcast said the would whatever was necessary keep shipping lanes open the face new iranian anti ship missiles the gulf the state department said two days ago tehran had been told concern that iranian anti ship missiles posed threat the free flow oil from the gulf officials have said iran has new chinese made anti ship silkworm missiles which pose greater threat merchant ships than missiles used before the iranian spokesman said the reports that iran intended attack ships were misleading propaganda said iraq president saddam hussein was the main cause tension the gulf and said iran would continue use all its legitimate means stem the cause tension weinberger said television interview the are fully prepared what necessary keep the shipping going and keep the freedom navigation available that very vital waterway aren going into any disclosures discussions what might happen but are certainly very sympathetic and listening carefully any suggestions for our assistance keeping navigation free that area said weinberger said warship movements the gulf area were not unusual navy battle group led the aircraft carrier kitty hawk currently the northern arabian sea the iranian spokesman was quoted tehran radio saying the was trying build its military presence the region reuter 
acq	dart group flexible supermarkets sgl bid dart group corp said told supermarkets general corp sgl was flexible the price would pay acquire the company dart has said would offer dlrs cash for each sgl share the sgl board recommended the offer shareholders sgl has termed the billion dlr offer unsolicited letter sgl dated march dart also said was denied confidential information sgl that would given other potential bidders sgl officials could not reached for comment dart said was advised that selling brochure for the sale sgl had been distributed about potential buyers but not itself these purchasers would also given access sgl books and records and the opportunity talk with key employees suspect that one more the are leveraged buyout firms said source close dart analysts have said sgl management may considering leveraged buyout dart said remains interested acquiring sgl friendly basis and reiterated its willingness negotiate all the terms its offer dart said sgl representatives said the company has not received any other offer said requested the confidential information better understand sgl but was denied this because refused sign agreement prohibiting from making bid for sgl without sgl approval the agreement would also have limited its ability buy sgl shares dart said considered those conditions unreasonable the interest trying negotiate friendly transaction said dart has just under five pct sgl shares dart said requested the information before its meeting with sgl representatives but held the meetings the hope representatives would reach agreement said indicated was flexible price but was told there were certain issues important sgl management and while they were not conditions the deal dart was expected take them into account putting together its package said the issues include immediate payment mln dlrs sgl chairman leonard lieberman executive vice president james dougherty and financial officer murray levine dart said this payment was intended for the three officers severance agreements although there was implication that lieberman and dougherty would leaving the company their own volition dart said under their present agreements none these officers have any right such accelerated payments also dart said lieberman dougherty and levine are paid mln dlrs pay their taxes also said top management incentive shares were accelerated and paid for cost six mln dlrs although there are restrictions the shares unless waived the company compensation committee dart said was fund five mln dlrs for top management supplemental retirement plan dart said another issue was agree future severance obligations and future salary guarantees for top management estimated more than mln dlrs excess obligations under the company present policy dart said despite such management payments agreed discuss all aspects its offer and fact did try negotiate transaction the march meeting with sgl supermarkets general owns the path mark supermarket chain and rickels home centres dart also released copy lawsuit that was being filed sgl shareholder seeking stop sgl from taking such actions paying greenmail enacting poison pill defence the suit also sought have directors carry out their fiduciary duty greenmail the payment premium for shares held unwanted suitor and poison pill typically the issue securities shareholders which make takeover more expensive reuter 
crude	australia said rely too much oil taxes the government over reliance revenue from crude oil adversely affecting australia economic performance australian petroleum exploration association apea chairman dennis benbow said over one third australia indirect tax income derived from oil time falling domestic output and weak crude prices told the apea annual conference here this dependence oil generated revenue distorts the country economic performance directly acting disincentive new exploration and indirectly affecting trading competitiveness through high energy costs said australia medium term liquid fuel self sufficiency position posing major economic threat yet the government response has been load new tax burdens the oil industry benbow said domestic oil output from existing fields expected fall barrels per day bpd fiscal from bpd reflecting mainly the decline the bass strait fields said bass strait reserves are now two thirds depleted with the three largest fields pct depleted said bass strait output expected just over half the level assuming number far undeveloped fields are brought stream and enhanced recovery from existing fields goes ahead benbow said government projections output from yet undiscovered fields range from bpd said australian liquid fuel demand forecast rise bpd from implying crude oil gap between and bpd five years time said present world oil prices and the current value the australian dollar annual oil imports would cost between billion and billion dlrs benbow said despite intensive exploration the early the addition reserves has been inadequate said for example the mln barrels discovered the five years represent about two years consumption said called the government review its tax policies restore incentive exploration reuter 
earn	woolworths ltd reports mln dlr net profit end feb mln 
acq	bell resources says buys mln bhp shares taking holding pct 
earn	woolworths ltd wlwa ended feb shr cents final div nil cents making six for year pre tax profit mln dlrs mln net mln mln turnover billion billion other income mln mln shrs mln mln note net after tax credit mln tax paid mln depreciation mln mln interest mln mln and minorities mln but before extraordinary net profit mln loss mln reuter 
acq	bell resources boosts stake bhp bell resources ltd said has executed underwriting agreement with equiticorp tasman ltd acquire mln ordinary shares the broken hill pty ltd brkn for mln dlrs bell said statement that now holds pct bhp billion shares reuter 
acq	ariadne unit confirms bid for san miguel ariadne group unit barwon farmlands ltd confirmed offered billion pesos cash for the mln shares philippine brewing company san miguel corp the australia based barwon pct owned new zealander bruce judge ariadne group said statement released hong kong that formal offer had been made the philippines government which holds the shares said was confident the offer will reviewed favourably newspapers manila and hong kong reported the weekend that offer had been made barwon said was represented australian stockbroker jacksons ltd which forwarded formal offer philippine president corazon aquino pesos for each the mln and shares san miguel the philippine government seized the shares which represent pct stake the brewery firm from the united coconut planters bank alleged the government linked with the country deposed president ferdinand marcos the barwon statement said deal expected concluded between barwon and the philippines government days barwon also said made recommendations the government how could purchase the class shares which can only held philippine national firm which least pct held member the country did not elaborate the hong kong economical journal quoted spokesman jacksons saying barwon plans set branch the philippines meet the criteria san miguel brewery ltd locally listed firm pct held san miguel neptunia corp affiliate was last traded dlrs against dlrs friday reuter 
crude	exxon official urges planning for next oil surge world governments should prepare for inevitable significant increase the price oil non middle east supplies diminish exxon corp xon director and senior vice president donald mcivor said policymakers must also face the reality that the bulk world oil reserves lies the middle east said speech prepared for delivery the australian petroleum exploration association apea annual conference appears ever more likely that new discoveries elsewhere will not change this fact said mcivor said the world oil fields contain about pct all oil ever discovered only these super giant fields lie outside the middle east and only five the have been discovered the last years three them the middle east said also said that since the world has been consuming billion barrels year while making discoveries the rate only billion barrels year more than half remaining proved reserves are the middle east said mcivor said was important continue search for oil outside the middle east because each addition contributes diversity supply desirable for global political and economic stability important enhance the likelihood home country discoveries with measures such non discriminatory and stable taxation and minimum regulation together with opening acreage for exploration said increasing reliance the middle east will also boost the incentive use natural gas and synthetic sources petroleum added reuter 
crude	australian oil tax cut seen boosting output percentage point reduction the australian government maximum crude oil levy old oil would stabilize bass straits oil output resources analyst ian story said here reduction pct from pct would enable bass strait output maintained the current rate barrels per day bpd for the next year rather than falling bpd told the australian petroleum exploration association annual conference story analyst with and director sydney stockbroker meares and philips ltd windfall profits taxes bass strait crude are longer appropriate the current economic climate story said the maximum pct levy old oil that discovered before september now forcing the broken hill pty ltd brkn exxon corp xon partnership shut production accelerating the decline output and reducing government revenue said said the producer return per barrel price australian dlrs barrel would rise dlrs from dlrs the levy was cut pct the economics pct levy are simply not attractive oil prices below dlrs story said cutting the maximum levy rate pct would create higher levels self sufficiency increase government revenue boost exports and provide incentives for exploration and development said the government currently reviewing the oil tax structure reuter 
interest	german bond yields seen falling near term west german bond yields could decline over the next few months recent efforts stabilize exchange rates seen last month paris pact extend keeping down european interest rates banking economists said but the longer term domestic yields could rise under agreements stimulate west germany economy they said the paris agreement has far successfully stabilized currencies with the threat central bank intervention economists said economists speculated that countries may try bolster the pact uncoupling and west german interest rates further when they meet for the imf interim committee april the recent round monetary accommodation the bundesbank and the bank japan and the firming the federal funds rate are significant they mark uncoupling movements and foreign interest rates salomon bros inc said recent study said narrowing international interest rate spreads was major factor the dollar fall these spreads will have widened the dollar stabilized west german bundesbank president karl otto poehl encouraged the not cut interest rates january when the bundesbank cut its own rates half point avoid weakening the dollar west german economists see room for further cuts leading west german rates the dollar resumes its decline not taboo peter pietsch spokesman for commerzbank said but most economists see room for cut west german rates only the first half the year emerging inflation will limit room for manoeuvre later the year the bundesbank average yield public paper already nearing last year low last week yields fell around pct not far from the low pct posted mid april economists said the trend may cause domestic investors shift some funds from short longer term paper such move would tend flatten the yield curve between short and long term rates which has become more pronounced since the bundesbank lowered its discount rate might also facilitate further cut leading rates the shift out savings accounts into securities would slow growth the bundesbank central bank money stock aggregate but conflicting with this trend are plans increase west german tax cuts part the paris currency pact designed meet demands for faster west german growth this move may force interest rates creating revenue vacuum which must filled higher government borrowing this may not occur private sector demand for credit remains weak but demand could emerge rates begin rising economists said appeared the government had already stepped borrowing this year accomodate revenue loss from other sources including tax losses resulting from weaker than expected economic growth and higher than expected spending josef koerner chief economist the west german ifo institut said newspaper interview expected tax revenue some billion marks below estimates the west german government november any tax shortfall itself unlikely push yields but coupled with other factors such waning foreign speculative buying mark bonds the dollar decline long term yields may have rise economists said public authority borrowing may also rise owing increases the second phase bonn tax reform package the west german government raising its total tax cuts billion marks billion west german chancellor helmut kohl said last week increased borrowing finance the tax reform acceptable finance minister gerhard stoltenberg said last thursday was looking for other ways finance the reform such raising indirect taxes but few economists believe the government will able through with its tax measures without increasing net borrowing the bundesbank said its february report that was wrong believe that the first stage the tax reform could managed without increasing deficits the bundesbank said west german public authorities borrowed large billion marks credit markets the final quarter compared with billion fourth quarter the federal government took nearly billion marks the fourth quarter figures and also drew two billion marks bundesbank advances the end the year when had not required such credit the quarter reuter 
trade	philippines posts mln dlr january trade deficit the philippines posted trade deficit mln dlrs january compared with deficits mln january and mln december government figures show the national census and statistics office ncso said imports mln dlrs january were from mln january and mln dlrs december while exports mln were the mln january but lower than december mln the country medium term development plan targets pct average annual growth exports and pct growth imports the ncso said reuter 
trade	japan says trying expand domestic demand japan has assured meeting trade ministers making every effort expand domestic demand and restructure its economy japanese trade representative tsomu hata told informal general agreement tariffs and trade gatt meeting that addition demand boosting measures adopted last september comprehensive economic program will prepared after the budget approved hata speaking the first session the two day meeting said agriculture exception the goal restructuring the economy but did not elaborate hata said protectionist pressures the international economy are strong ever reflecting financial deficits payment imbalances and serious unemployment many countries despite great potential developing economies are still confronted grave difficulties particularly debt added the basis for the talks the gatt ministerial declaration last september punta del este uruguay and the subsequent trade negotiating plan agreed geneva essential that first reaffirm here our commitment implementing that plan scheduled hata said hata added not constructive speed negotiations some areas the expense others order rebuild the free trade system important for each participant have domestic policies that will serve this end part its contribution japan plans april fundamentally improve its generalised system preferences for industrial and mining products make japan domestic market more open developing countries said reuter 
interest	bundesbank sets day securities repurchase tender fixed pct 
trade	australian minister says agriculture gatt priority australian trade minister john dawkins said the general agreement tariffs and trade gatt does not give high priority agricultural trade reform will neglecting the area greatest crisis statement the informal gatt trade ministers conference here said agriculture problem which involves all countries and seriously affects the debt servicing abilities number developing countries said major countries should showing leadership this problem will giving close attention the processes the oecd organisation economic cooperation and development and elsewhere leading the venice economic summit where will looking the participants adopt strong commitment agricultural trade reform dawkins said the venice summit scheduled for june said australia interests the uruguay round the eighth under the gatt are wide ranging dawkins said sees the round providing timely opportunity secure further meaningful trade liberalisation all sectors and restore confidence the multilateral system dawkins said initial meetings the negotiating groups established geneva after the gatt declaration last september punta del este uruguay have made reasonable start but vital that trade ministers maintain the pressure these processes must see that the commitments made punta del este standstill and rollback are carried into practice the standstill and rollback protection offers the global trading system chance hold and wind back protection during the negotiations which are expected last four years said reuter 
earn	booker plc bokl year shr div making turnover billion stg billion pretax profit mln mln tax mln mln interest paid mln mln minority interests mln debit same extraordinary items mln profit mln loss pretax profit includes agribusiness mln mln health products mln mln wholesale food distribution mln mln retail food distribution mln mln mln mln mln mln reuter 
crude	grangemouth refinery shut hydrocracker damaged the entire british petroleum plc refinery grangemouth scotland has been shut down following the explosion and fire that severely damaged the hydrocracker the site refinery spokesman said said the rest the bpd refinery including the bpd catalytic cracker was undamaged the whole refinery was closed pending enquiries but decision when reopen the main units will taken the next couple days said but there was extensive damage the central part the bpd hydrocracker which upgrades heavy oil products gasoline and will out operation for some months the spokesman said will not suffer supply shortages result the explosion will able bring product from other sources has bpd refinery rotterdam bpd unit ingolstadt west germany bpd plant lavera france and smaller swedish plant said the explosion and fire which one worker was killed occurred when the hydrocracker was not operation the refinery whole had been operating about half its capacity since the end january while extensive overhaul was carried out the north side the complex where the hydrocracker sited said this work was scheduled completed mid april but this now being assessed following the hydrocracker accident two people were killed explosion and fire flare line the grangemouth refinery march but the spokesman said this incident was some yards from the latest accident reuter 
earn	australia woolworths looks improved profits woolworths ltd wlwa said policy management and financial changes initiated during the business year should cause profits reach more acceptable levels end february net profit reported earlier fell pct the year ended february results for the first month the new year were encouraging after period uncertain consumer confidence and difficult trading conditions said statement the big discount store division and new south wales supermarkets produced very disappointing results added woolworths earlier reported fall net profit mln from mln sales billion against billion capital spending for the year was mln dlrs against mln for the previous year with new stores opened but total sales were below target woolworths said the company provided mln dlrs against operating profit for the year cover mark downs stock extraordinary items included mln dlr profit the sale properties and investments less mln provision for reorganising the big chain woolworths unrelated the group woolworth has been the subject takeover speculation since industrial equity ltd acquired pct stake last year new zealand diversified investment group rainbow corp ltd bought safeway stores inc pct holding woolworths for mln dlrs late last year safeway put its stake for tender just time take advantage changes tax laws effective from the end december informed sources said woolworths shares closed australian stock exchanges today dlrs down five cents from friday reuter 
earn	booker says starts well booker plc bokl said had started well and the group had the resources invest its growth business both organically and acquisition was commenting figures for which showed pretax profits rising mln from mln previously profits from the accounted for pct the total the results were broadly line with analysts forecasts and the company shares firmed morning trading from friday close the group ended the year with cash surplus higher mln stg compared mln previously after capital expenditure which rose mln from mln statement the company said the agribusiness group reported excellent profits growth while health products profits rose mln from mln reuter 
crude	iraq reports raids iran nowruz oil field iraq said its warplanes launched two bombing raids iran offshore nowruz oilfield the northern gulf today military spokesman quoted the official iraqi news agency said platforms the field were reduced rubble said attacks the field miles northwest iran kharg island oil terminal were carried out gmt said today raids fall within iraq policy deprive iranian rulers oil revenue used serve their aggressive aims iraqi planes yesterday raided the nearby ardeshir oil field resuming attacks iranian targets after month long lull reuter 
earn	zambia copper investments ltd johannesburg march halfyear ended december shr net cents loss pre tax dlrs net earnings loss mln foreign tax gain extraordinary items nil loss mln period reuter 
earn	dresdner declines comment scrip share report dresdner bank drsd spokesman said the bank had comment newspaper reports that shareholders would offered free subscription shares dresdner shares surged open marks higher before climbing further other bank stocks also rose strongly and dealers cited speculation already the market that deutsche bank dbkg would make similar move such scrip issues they occurred would mark the first time german banks had ever issued free shares the varying reports said dresdner shareholders may offered one free share for every already held reuter 
interest	japan long term prime seen cut record low soon japan long term banks will soon cut their prime rate now record low pct percentage point response falling secondary market yields their five year debentures long term bankers said the long term prime rate customarily set percentage point above the coupon five year bank debentures issued the long term banks every month the latest bank debentures pct have met strong end investor demand the prospect further declines yen interest rates dealers said the current pct prime rate has been effect since february reuter 
trade	yeutter sees japan verging trade conflict the united states and japan are the brink serious conflict trade especially over semiconductors japanese unwillingness for public bodies buy super computers and barriers firms seeking participate the eight billion dlr kansai airport project trade representative clayton yeutter said was talking reporters yesterday the eve two day meeting trade ministers which will review progress made committees set after the uruguay meeting last september launched new round gatt general agreement tariffs and trade talks european community commissioner willy clercq meanwhile told reporters conflict between the world three major trading and economic powers the the and japan set poor example for other members gatt australian trade minister john dawkins told the reporters bilateral retaliation the enormous expense the rest the world was way solve trade disputes new zealand trade minister mike moore told his colleagues great progress had been made preparing for the current round gatt negotiations which must not sidetracked the ministers have said they want maintain the momentum towards fresh negotiations avert serious trade conflicts yeutter said the problem with international trade talks was that they tended get bogged down for years countries don get very serious about negotiating until the end the day which maybe five six years the future also said did not consider the new congress protectionist was months ago that very healthy development added you asked about that year months ago would have said that was terribly protectionist members congress that the contemplative members congress have begun realise protectionism not the answer the billion dlr trade deficit yeutter said they also begun realise that you cannot legislate solutions billion dollar trade deficit they are more realistic and judgement more responsible that issue than they were months ago added whether that will reflected the legislation that eventually emerges another matter reuter 
ship	iranian tanker attacked over weekend lloyds the iranian steam tanker avaj tonnes was attacked and hit hours march lloyds shipping intelligence service reported one person was killed the tanker owned the national iranian tanker reuter 
trade	next world trade negotiations must succeed ministers from more than nations were told new zealand that the next international negotiations liberalising trade would the last this century and the cost failure could not measured trade minister mike moore told his colleagues welcoming ceremony before two days talks here that great progress had been made preparing for the negotiations which must not sidetracked live troubled and dangerous times for the world trading system said have seen that the failure the world trading system has caused great depression and conflict the past our failure maintain the momentum will great cost all moore said the cost failure beyond calculation our last hope and best opportunity this century will not get another chance before the year added the ministers are new zealand review world trade since the uruguay round talks last september the talks are also part preparations for full scale june meeting the general agreement tariffs and trade gatt venice the uruguay meeting considered most countries have been particularly successful with northern hemisphere countries managing have service industries such banking and insurance included the next full round the southerners goal including agricultural and tropical products also was met the meeting this north island tourist resort described participants informal and declaration expected moore said one aim was instil sense political urgency avert potential economic tragedy another was seek ways popularising freer trade people who felt the pain readjustment but could not see the benefits well preventing bush fires confrontation while proceed with orderly negotiations the meeting being attended overseas delegations including representatives gatt and the economic community the delegates include trade representative clayton yeutter american sources say ready state that the best way reverse protectionist sentiment the united states implement four key uruguay proposals end agricultural subsidies inclusion trade services and investments gatt regulations tightening restrictions pirating called intellectual property such trademarks patents and copyrights new rules resolve trade disputes among gatt member states earlier new zealand sources had said french foreign trade minister michel noir had pulled out the informal gatt talks for domestic political reasons cabinet chief bernard prauge will lead the french delegation reuter 
money-fx	swiss sight deposits rise mln francs sight deposits commercial banks the swiss national bank rose mln swiss francs the second days march billion the national bank said foreign exchange reserves fell mln francs billion sight deposits are major indicator money market liquidity switzerland reuter 
acq	general partners gencorp proxy fight general partners the group tendering for all gencorp inc shares dlrs each said has started soliciting proxies against gencorp proposals increase its number authorized shares outstanding create board with staggered election dates and eliminate cumulative voting the proposals are voted the march annual meeting general partners partnership privately held wagner and brown and afg industries inc afg made the disclosure newspaper advertisement the partnership has already filed suit district court columbus ohio seeking block vote the proposals and invalidate gencorp defensive preferred share purchase rights general partners asked shareholders either vote against the proposals abstain from voting them reuter 
acq	usair cuts piedmont pie shares sought usair group inc said has amended its dlr per share tender offer for shares piedmont aviation inc reduce the maximum number will accept previously had sought all shares newspaper advertisement usair said the offer and withdrawal rights have not been extended and will still expire april along with the new proration period friday the department transportation approved usair acquisition pct piedmont usair were acquire more than pct the tender would required sell the excess within one week usair said receipt the shares which also the minimum amount will accept would give total about pct piedmont shares currently outstanding and pct fully diluted basis the company said even the purchase the piedmont shares caused exceed the pct limit usair would waive the condition the offer that the transportation department approve voting trust agreement permitting usair buy and hold shares under the offer pending review usair application gain control piedmont subject the order not being rescinded modified adverse way reuter 
crude	study says oil price fall spurs bankruptcies the sharp drop world oil prices the past year triggered pct increase bankruptcies the country oil states according study released the american petroleum institute api api said the dunn and bradstreet study found that business failures rose nationally pct over but the oil patch the southwest the increase was pct said bankruptcies texas were pct oklahoma pct colorado pct and louisiana pct alaska failures rose per cent said api also said that three the states with the highest number bank failures last year were large oil and gas producers texas oklahoma and kansas reuter 
trade	finland february trade surplus mln markka finland had mln markka trade surplus february following mln markka surplus january and mln surplus february customs board preliminary figures showed exports february were billion markka and imports billion compared with exports billion and imports billion january and exports billion and imports billion february last year reuter 
ship	ports reopen but further disruption likely new zealand ports reopened hrs local time gmt march after being closed since march because strike over pay claims watersiders waterside federation spokesman said but industrial action other port workers likely cause further disruption harbour workers union secretary ross wilson told reuters wilson said his members are holding stopwork meetings this morning consider further stoppages over their pay claim the two disputes are not related harbour workers around the country went strike for hours march but wilson said any further action will occur port port basis reuter 
acq	microtel inc makes acquisition microtel inc said has completed the acquisition american teledata corp and its dial subsidiary which provide long distance telephone service northeast florida terms were not disclosed microtel shareholders include norfolk southern corp nsc com inc mai centel corp cnt alltel corp and hutton group inc efh reuter 
earn	jamesway corp sets for stock split ups cash payout pct 
earn	american variety international inc nine mths march end shr loss seven cts loss cts net loss profit revs reuter 
acq	american variety acquisition pact terminated american variety international inc said its agreement acquire first national entertainment corp has been terminated because first national was not able fulfill terms the agreement said due protracted negotiations with first national several american variety divisions were inoperative american variety said reevaluating its record and tape library for possible conversion compact discs reuter 
earn	jamesway jmy sets split higher cash payout jamesway corp said its board declared two for one stock split and increased the quarterly cash dividend pct the company said the dividend the pre split shares was increased four cts from three cts said both the split and the dividend are payable may holders record april adding the company will have about shares outstanding after the split reuter 
acq	harper row hpr gets expressions interest harper and row publishers inc said its special committee independent directors has received expressions interest from considerable number domestic and foreign firms with respect restructuring acquisition transactions with the company winthrop knowlton chairman special committee said determination has been made the full board any transaction said the special committee and kidder peabody and inc intend engage discussions with interested parties effort come conclusion the near future formation the special committee was announced early last week when harper and row said its board had taken action two pending acquisition proposals that time directors also indefinately postponed planned special shareholders vote restructuring proposal which would have created class common with votes share and limited transferability the acquisition proposals had come from theodore cross owner about six pct the company stock who offered dlrs share and harcourt brace jovanovich inc hbj which offered dlrs share reuter 
earn	humana inc qtr shr cts cts 
acq	fruit loom ftl sell unit for mln dlrs fruit the loom inc said agreed sell its general battery corp subsidiary exide corp for about mln dlrs cash the proposed sale will complete fruit the loom previously announced plan divest itself unrelated businesses proceeds from the proposed transaction are more than the price projected the company recent initial public offering said completion the transaction subject definitive agreement regulatory approvals financing and certain other conditions and expected close may one the company said reuter 
acq	cityquest makes mln stg bid for wickes cityquest plc newly formed company making recommended mln stg offer for builders merchants and diy yourself company wickes plc wickes said statement undertakings accept what effectively management buyout have been accepted holders pct the shares the statement said the offer was due decision wickes international corp member the wickes companies wix inc group which holds pct stake realise much its investment the offer would enable wickes become fully independent and once the bid succeeded all the wickes directors would become members the cityquest board the offer will cash for every wickes share wickes was last quoted compared with friday close wickes shareholders will also have the option taking one cityquest share loan notes for every the cash consideration henry sweetbaum chairman and chief executive both cityquest and wickes and was intended that cityquest name would changed wickes due course wickes came the unlisted securities market january with capitalisation about mln stg cityquest has fully paid share capital one mln stg warburg securities has organised commitments from group investors subscribe for mln stg shares and mln stg subordinated convertible loan stock lead investor investors industry plc cityquest also has loan facilities mln stg reuter 
earn	humana inc hum qtr feb net shr cts cts net mln mln revs mln mln six mths shr cts dlrs net mln mln revs billion billion reuter 
earn	winchell donut wdh sets initial quarterly winchell donut houses said has declared initial quarterly dividend cts per unit class and class limited partnership units payable may holders record march reuter 
earn	triton group ltd trro qtr jan net oper shr profit nil loss nil oper net profit loss sales mln mln avg shrs mln mln year oper shr profit six cts profit five cts oper net profit profit sales mln mln avg shrs mln mln note net excludes discontinued operations nil gain dlrs quarter and loss dlrs gain dlrs year net excludes tax loss carryforward dlrs reversal tax credit dlrs quarter and credits dlrs dlrs year results include press inc from november three acquisition reuter 
money-fx	nigeria changes auction rules defend naira nigeria central bank has changed the rules governing its foreign exchange auctions what analysts see means defending the naira currency which has depreciated steadily the bank said statement that from april banks bidding for foreign exchange would have pay the rate they offered and not presently the rate the lowest successful bid made the auction this should discourage banks from bidding high ensure that they were successful while paying the lower marginal rate analysts said the central bank also announced the auctions would fortnightly not weekly beginning april reuter 
earn	aar corp air qtr feb net shr cts cts net sales mln mln nine mths shr dlrs cts net sales mln mln avg shrs mln mln reuter 
trade	gatt meeting hears plea for african debt relief debt among african countries will continue grow and their economies will remain stifled unless developed countries lower their interest rates nigerian trade minister samaila mamman said today told informal meeting the general agreement tariffs and trade the widening gap between industrialized and developing countries and unfair international economic system were major obstacles growth developing countries wish emphasize that the growth the volume the external indebtedness african countries reflects the full effect the deflationary monetary and trade policies the developed market economy countries mamman said delegates from countries are attending the talks the world trade body the new zealand resort taupo reuter 
trade	japan says trying expand domestic demand japan has assured meeting trade ministers making every effort expand domestic demand and restructure its economy japanese trade representative tsomu hata told informal general agreement tariffs and trade gatt meeting that addition demand boosting measures adopted last september comprehensive economic program will prepared after the budget approved hata speaking the first session the two day meeting said agriculture exception the goal restructuring the economy but did not elaborate hata said protectionist pressures the international economy are strong ever reflecting financial deficits payment imbalances and serious unemployment many countries reuter 
earn	supermarkets general corp qtr cts cts 
ship	west german ship sinks off west africa the west german registered motor vessel stefan sank off the west african coast early today and one its eight crew members was killed spanish navy spokesman said said the captain the singapore registered tanker nord pacific reported radio message that had picked the remaining seven crewmen the tonnes stefan together with the body the dead man reuter 
trade	japan last ditch effort save chip pact japan has launched last ditch effort salvage its computer micro chip pact with the united states sending letter top american policy makers setting out its case and instructing its producers cut output further must make our utmost effort ward off any catastrophe ministry international trade and industry miti deputy director general masaji yamamoto told reporters hasty action taken the united states will create very serious problems the reagan administration economic policy expected meet thursday review japanese compliance with the bilateral agreement hammered out last year under the pact tokyo agreed stop selling cut price chips world markets and increase its imports american semiconductors washington has accused japan reneging the deal selling low priced chips asia and failing boost american imports and has threatened take retaliatory action effort save the agreement miti asking japanese chip makers limit production the hope that will boost domestic demand and reduce the incentive export yamamoto said that japan will slash output kilobit dynamic random access and erasable programmable read only memory chips pct the second quarter this follows cutback more than pct the first three months the year said the cutbacks were already drying the supply chips available for export through unregulated distributors the called grey market have almost grey market said supply diminishing help ensure that the cutbacks are implemented miti called the president japan largest semiconductor maker nec corp nipn last week said also issuing specific instructions production the japanese subsidiary texas instruments inc trade and industry minister hajime tamura spelled out the steps japan was taking salvage the pact and appealed for understanding letter top american policy makers the letter was sent today secretary state george schultz treasury secretary james baker commerce secretary malcolm baldrige and trade representative clayton yeutter the four who make the economic policy council are expected consider evidence presented chip maker micron technology inc dram cut price japanese sales hong kong yamamoto admitted that oki electric industry hong kong subsidiary had sold chips inappropriate level but denied that was dumping chips rock bottom prices the united states uses this proof dumping will present our rebuttal said the sales though were inappropriate the light miti advice semiconductor makers sell chips well above production costs avoid any hint dumping said also called the case strange but stopped short endorsing japanese newspaper accusations that oki had been trapped into making the sales did say though that micron publicized the invoice documenting the sales the same day they were made and that oki was unable locate the person who had bought the chips when tried buy them back last week reuter 
earn	american motors corp gets qualified audit financial statements 
earn	clair paint and wallpaper corp year net shr cts cts net revs mln mln reuter 
acq	alco standard asn completes acquisition delta business systems inc said has completed previously announced merger into alco standard corp delta said expects sales about mln dlrs for the year ending april reuter 
earn	american motors amo statement qualified american motors corp said its auditors qualified the company financial report the report was qualified due uncertainties surrounding the previously announced arbitration award against american motors former subsidiary general corp the award being contested the report was filed today with the securities and exchange commission along with copy chrysler corp proposal take over american motors american motors said earlier than arbitration award made emerson electric emr february amounted mln dlrs plus legal expenses american motors has challenged the award the automaker sold the general unit ltv corp qltv the same year was awarded five year billion dlr procurement contract with the military ltv and general last year sought protection under chapter the arbitration proceeding was called after emerson electric charged general violated agreement covering the development certain components the contract the components were for the military high mobility multi purpose wheeled vehicle hmmwv american motors said selling general ltv american motors agreed indemnify ltv against losses incurred ltv resulting from the emerson electric claims amc also said the award has not been confirmed court and faces additional legal challenges said that because the ltv and general reorganizations the final amount confirmed award and the amount any loss ltv uncertain reuter 
acq	anacomp aac gets funds buy datagraphix anacomp inc said finalized the financing its mln dlrs purchase datagraphix inc from general dynamics corp the financing arranged drexel burnham lambert consists mln dlrs bank financing the private placement mln dlrs senior subordinated notes and mln dlrs convertible preferred stock said datagraphix manufacturer microgrpahics equipment has been merged into anacomp and will operated separate division anacomp said the division expected improve results for anacomp this year reuter 
earn	supermarkets general corp sgl qtr jan oper shr cts cts oper net mln mln sales billion billion avg shrs mln mln year oper shr dlrs dlrs oper net mln mln sales billion billion avg shrs mln mln notes sales are from continuing operations operating net excludes results from discontinued operations nil profit dlrs eight cts share quarter and loss dlrs one cent share profit dlrs five cts share year latest year operating net also excludes loss dlrs four cts share disposal discontinued department store segment share data adjusted reflect two for one stock split paid holders record august operating net includes pre tax lifo credit dlrs credit mln dlrs quarter and charge mln dlrs charge mln dlrs year reuter 
acq	energy factors efac buy allied ald units energy factors inc said has signed agreement acquire gwf power systems and combustion power inc from allied signal inc for undisclosed terms the two allied units operate and are developing cogeneration projects and small petroleum coke fueled power plants reuter 
earn	ryland group inc ryl sets quarterly qtly div cts cts prior pay april record april reuter 
earn	fuller full qtr feb net shr cts cts net sales mln mln reuter 
earn	cooper development bugs qtr jan net shr profit seven cts loss cts net profit loss sales mln mln avg shrs mln mln note current year net includes pretax gain sale product line mln dlrs and charge dlrs posttax expensing portion unamorized debt issuance costs unit current year results include technicon corp acquired august reuter 
earn	citizens growth citgs omits quarterly dividend citizens growth properties said ommitted its regular quartelry dividend result decreased earnings principally attributable the default borrower the trust laargest mortgage loan the trust last paid cts january the trust said also reaffirmed limited share repurchase program subject available cash flow light the defaulted mortgage reuter 
acq	patrick petroluem has definitive accord buy bayou resources 
earn	dynamic homes inc dyhm qtr net shr profit cts loss cts net profit loss sales year shr loss cts loss cts net loss sales reuter 
acq	safeguard scientific sfe unit buys subsidiary safeguard scientific inc said its subsidiary coherent communications systems corp purchased telecommunications equipment business for undisclosed amount cash notes and coherent common stock safeguard said bought the business unit from comsat telesystems inc subsidiary communications satellite corp reuter 
earn	westworld community health wchi qtr loss shr loss dlrs profit cts net loss profit revs mln mln year shr loss dlrs profit cts net loss profit revs mln mln avg shrs note current year results include charges related closing divestitures facilities and other assets full name westworld community healthcare inc reuter 
earn	kings road entertainment inc kren qtr net shr loss seven cts loss cts net loss revs avg shrs nine mths shr loss cts loss dlrs net loss loss revs mln avg shrs note prior year net includes tax credits dlrs quarter and dlrs nine mths reuter 
earn	paychex inc payx qtr feb net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln note share adjusted for three for two stock split june reuter 
acq	inds icx sell certain assets mlx industries inc said its abex corp subsidiary agreed sell its sintered friction materials business italy troy michigan based mlx corp for undisclosed terms completion the proposed transaction subject approval the italian government said reuter 
earn	reliable life insurance rlifa year net shr dlrs dlrs net mln note net includes gain dlrs from chjange accounting for pension plans and investment gaions over three mln dlrs reuter 
earn	raven industries inc rav qtr jan net shr profit six cts loss nine cts net profit loss sales mln year shr profit dlrs profit dlrs net profit profit sales mln mln reuter 
earn	hemodynamics inc hmdy year loss shr loss cts loss cts net loss loss sales reuter 
acq	deloitte haskins sells gets stake company deloitte haskins and sells accounting and consulting firm said bought stake holland systems corp software and services company the company also said set venture with holland systems develop and market integrated line information management products and services said products from the venture are expected introduced within the next year reuter 
earn	moto photo inc moto qtr net oper shr profit one loss six cts oper net profit loss revs avg shrs year oper shr loss cts loss cts oper net profit loss revs avg shrs note share after poreferred dividends current year net both periods excludes dlr tax loss carryforward reuter 
money-fx	treasury baker says currencies within ranges that better reflect fundamentals 
money-fx	currencies better reflect fundamentals baker treasury secertary james baker said currencies were now within ranges that better reflected economic fundamentals speech the annual meeting the inter american development bank said excchange have moved into ranges that better reflect economic fundamentals noted that particular that dollar has fallen from its high point early helping moderate protectionist pressures the reuter 
earn	tonka tka sees lower fiscal first quarter net tonka corp said expects results for its fiscal first quarter end april four decline from the record earnings mln dlrs cts share and revenues mln dlrs the toy manufacturer attributed its anticipated lower financial results expected moderate decline shipments its pound puppies product line tonka also said expects revenues and earnings remain lower through the first half compared with record results mln dlrs revenues and mln dlrs net earnings dlrs share the company said its level shipments good despite conservative buying pattern the part retailers industry wide tonka first quarter shipments will down somewhat from record levels and gross profit margins will down slightly from year ago said second half sales are expected stronger based return more traditional seasonal shipping pattern which retailers order and stock conservatively early the year and time large shipments for the second half said tonka said that while the pace order writing trailing last year bookings are very good for orders several its new product introductions for reuter 
earn	child world inc cwld qtr jan net shr dlrs dlrs net mln mln sales mln mln avg shrs mln mln year shr cts cts net mln sales mln mln avg shrs mln mln note latest year net cut mln dlrs investment tax credit loss reuter 
earn	bayernverein expects unchanged dividend for bayerische vereinsbank bvmg expects pay unchanged dividend marks earnings but profits will only barely reach last year record levels management board spokesman maximilian hackl said told the annual news conference that possible credit risks especially those associated with foreign nations had largely been covered risk provisions were therefore unlikely reach the same high level group bank net profit rose mln marks from mln the previous year and parent bank net profit increased mln marks from mln hackl said that interest margins the banking business had declined pct last year from pct the previous year but the mortgage sector the margins had increased slightly and stood around pct parent bank commission surplus the securities business had risen almost pct mln marks expenses for personnel had increased pct mln marks and others costs had increased pct mln marks the parent bank partial operating profit which excludes earnings from trading its own account had climbed two pct mln marks the parent bank balance sheet total rose pct billion marks end compared with end hackl said was boosted three billion mark rise mortgage business and billion mark increase banking business the mortgage sector share total parent bank business volume rose pct from hackl said that january and february this year the bank credit business had not livened but despite the sharp downturn german bourses profits from trading own account had increased the first two months compared with the same year ago period gave detailed figures reuter 
earn	dynamic homes inc dyhm qtr net shr nil loss two cts net profit loss revs mths shr loss cts loss cts net loss loss revs reuter 
earn	canada lease financing ltd qtr dec net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
earn	public service psnc raises payout public service north carolina inc said its board raised the quarterly dividend cts per share from cts previously adjusted for two for one stock split that takes effect april the dividend payable july one holders record june the company also said plans file soon for offering one mln new shares which would give total about post split shares reuter 
earn	wickes wix plans reverse split calls debt wickes cos inc said its board authorized one for five reverse stock split and plans call the company its pct senior subordianted debentures due the company said will seek shareholder approval the reverse stock split the annual shareholders meeting scheduled for june january wickes had mln shares outstanding the company also said wickes also said will call the debentures dec assuming market conditions remain essentially the same reuter 
acq	investor acquires pct munford mfd joint venture controlled dallas investor bradbury dyer said had acquired shares pct the common stock munford inc filing with the securities and exchange commission the concern which comprises paragon associates and paragon associates said bought the stake for dlrs and may buy more shares paragon said bought the shares for investment purposes reuter 
earn	moto photo moto sees better quarter moto photo inc president michael adler said expects the company first quarter earnings for fiscal better than the same quarter year ago adler said however that the quarter would still loss primarily because the low season for the imaging business photo moto recored net loss for the first quarter ending march dlrs reuter 
earn	canada southern petroleum ltd csw qtr loss qtr ends dec shr loss one profit two cts net loss profit revs six mths shr loss one profit four cts net loss profit revs reuter 
earn	recoton corp rcot qtr loss shr loss cts profit cts net loss profit revs year shr profit cts profit cts net profit profit revs mln mln note includes income tax credits dlrs and mln dlrs and respectively and dlrs qtr current qtr after tax provision dlrs reuter 
earn	sanford corp sanf qtr feb net shr cts cts net sales mln mln reuter 
earn	canada southern petroleum ltd qtr loss period ended december shr loss one profit two cts net loss profit revs six mths shr loss one profit four cts net loss profit revs reuter 
earn	hosposable products inc hosp qtr net shr cts eight cts net sales avg shrs year shr cts cts net sales mln mln avg shrs reuter 
interest	fed says sets billion dlrs customer repurchase agreements 
interest	fed adds reserves via customer repurchases the federal reserve entered the government securities market arrange billion dlrs customer repurchase agreements fed spokesman said dealers said federal funds were trading pct when the fed began its temporary and indirect supply reserves the banking system reuter 
earn	mcdonald mcd reaffirmed recommendation mcdonald corp rose sharply today after receiving second recommendation many sessions traders said today analyst richard simon goldman sachs and reaffirmed his recommendation the stock and put his focus list traders familiar with the recommendation said simon was unavailable for comment the stock jumped friday analyst daniel lee drexel burnham lambert inc reiterated recommendation the stock focusing increased comparable store sales and consistent annual earnings growth friday the stock closed points higher wendy another operator fast food restaurants rose one active trading vague rumors that wendy takeover candidate continued circulate wall street traders said reuter 
earn	allied products corp adp year net shr dlrs dlrs net sales mln mln avg shrs mln mln note net includes tax credits mln dlrs dlrs share reuter 
acq	american television atcma buys time unit american television and communications corp said has completed the acquisition manhattan cable television inc from time inc for about class common shares american television was spun off from time august the company said following this transaction time now owns pct american television reuter 
acq	dwg dwg completes sale unit dwg corp said has completed the previously announced sale its texsun corp subsidiary texsun corp subsidiary sundor brands inc for mln dlrs and the assumption liabilities said proceeds have been placed escrow pending the outcome talks with lenders reuter 
acq	allied asu selling michigan units allied supermarkets inc said entered into definitive agreement sell its michigan operations for about mln dlrs cash and debt plus assumption substantially all allied liabilities other than senior subordinated debentures said the operations will sold meadowdale foods inc corporation formed members its existing management including chairman david page and president lon makanoff the transaction conditioned allied pending merger with the vons cos inc reuter 
acq	klm says not seeking air atlanta stake klm royal dutch airlines klm discussing marketing cooperation with regional carrier air atlanta inc but not seeking take stake the airline klm spokesman said not considering taking either majority minority stake air atlanta but are thinking providing them with loan the spokesman told reuters comment wall street journal report saying debt laden air atlanta could sell much pct its stock the dutch airline klm last week denied dutch press report saying was discussing takeover air atlanta the klm spokesman said air atlanta regional route network centred atlanta could serve feeder klm international network which includes direct flights between atlanta and amsterdam klm and air atlanta had been talking for some time said but declined elaborate further the talks give details the loan air atlanta reuter 
acq	gencorp sues general partners gencorp inc said filed suit against the unsolicited dlr share tender offer wagner and brown and afg industries gencorp said seeking injunction against the offer because violates federal securities laws and margin regulations gencorp also said its board carefully studying the offer and will make decision whether not shareholders should accept reject march reuter 
earn	new brunswick scientific inc nbsc qtr shr cts six cts net revs mln mln year shr cts cts net mln revs mln mln reuter 
earn	intelligent business ibcc qtr jan shr three cts nil net revs note full name intelligent business communications corp reuter 
acq	principal neo tech sells unit principal neo tech inc said completed the sale its subsidiary neo tech inc seismic holdings inc and energy holdings inc denver colo part the price principal neo tech received notes and preferred shares energy holdings however terms were not disclosed reuter 
acq	charter federal jefferson savings agree merge 
acq	phh phh buys two design firms phh group inc said acquired two design firms for undisclosed terms the two firms neville lewis associates new york and walker associates inc produced mln dlrs total fees reuter 
acq	charter federal chfd jefferson merge charter federal savings and loan association bristol said has agreed acquire jefferson savings and loan association warrenton under terms the transaction which would result billion dlr thrift institution stockholders jefferson will get dlrs per share half cash and half shares charter the resulting association will operate under the name charter and will based bristol the transaction valued about mln dlrs jefferson spokesman said charter said the merger subject approval the federal home loan bank board jefferson reported mln dlrs loss and assets mln dlrs for the year ended september for the year ended june charter reported net income mln dlrs assets totaled about mln dlrs december reuter 
grain	trade proposes new grain intervention rules the european community cereals trade lobby organisation coceral said has written farm commissioner frans andriessen propose new system for sales into intervention which claims could save the budget money proposes that applications for intervention made through certificate valid for execution three months later during the three months the trader found market elsewhere could buy back the certificate payment one pct premium coceral argues that this would restore the original function intervention safety net and would end the present situation which produce often sold into intervention precaution reuter 
earn	lowe cos inc low qtly div qtly div cts cts prior payable april record april reuter 
acq	coca cola spokesman said rumors coke seeking takeover wendy are not correct 
earn	computer devices inc qtr shr loss one cnt profit one cnt net loss profit revs mln year shr profit seven cts profit nine cts net profit profit revs mln mln note qtr and year includes gain dlrs and dlrs respectivley year includes gain dlrs from tax loss carryforwards reuter 
earn	ducommon inc dco qtr loss oper shr loss dlrs loss dlrs oper net loss loss sales mln mln year oper shr loss dlrs loss cts oper net loss loss sales mln mln note prior qtr and year figures exclude losses from discontinued operations dlrs and dlrs respectively and respective losses sale discontinued operations mln dlrs and mln dlrs reuter 
earn	mem com inc mem qtr net oper shr cts cts oper net revs mln mln mths oper shr dlrs cts oper net revs mln mln note qtr excludes gain dlrs for discontinued operations lebanon packaging year and year prior excludes loss dlrs and gain dlrs respectively for discontinued operations lebanon sale reuter 
acq	coca cola says rumors incorrect coca cola spokesman said rumors the company interested acquiring wendy international wen are not true those rumors are not correct said carlton curtis assistant vice president coke have stated many times that coca cola has interest acquisition the food service industry and thereby becoming competitor our food service customers wendy stock has been flying high the rumors for two days today wendy hit high before dropping back heavy trading reuter 
earn	sweet victory inc svic year shr loss dlrs loss cts net loss mln loss mln revs dlrs dlrs reuter 
interest	standard federal sfb offers zero point loan standard federal bank said introduced zero point fixed rate mortgage loan the loan program offers borrowers home mortgage financing with discount fees charged standard said that fees charged will include application fee commitment fee and out pocket expenses such title work survey recording fees and private mortgage insurance reuter 
crude	iraq oil minister qassem ahmed taqi replaced iraqi news agency reports 
crude	iraqi oil minister replaced official iraq oil minister qassem ahmed taqi has been moved the heavy industries ministry the official iraqi news agcny ina said tonight quoted presidential decree appointing oil ministry undersecretary isam abdul rahim chalaby the new oil minister the ministers industry and communication and transport had both been relieved their posts the news agency said immediate explanation was given for the changes chalaby the head the iraqi national oil company ina said the decree signed president saddam hussein relieved the minister heavy industries subhi yassin khadeir his post and appointed him presidential adviser his ministry was formerly known the industry and mineral resources ministry the minister communications and transport abdel jabbar abdel rahim asadi was also relieved his post and replaced member the ruling baath party regional command mohammed hamza zubeidi zubedei also presidential adviser all three ministers involved the reshuffle had spent more than four years their posts reuter 
acq	allegheny sued over proposed buyout allegheny international inc said and first boston inc fbc sunter holdings corp subsidiary have been named defendants class action filed the court common pleas for allegheny county which seeks injunction against allegheny proposed merger into sunter the company said its board and some former directors and first boston were also named defendants said and sunter intend vigorously oppose the action allegheny said the class action suit alleges the price paid the transaction grossly unfair the company said the suit allegations are similar those contained earlier federal court suit reuter 
earn	astrocom corp acom qtr net shr one five cts net revs year shr eight cts cts net revs mln mln avg shrs reuter 
earn	juno lighting inc juno qtr feb net shr cts cts net sales mln reuter 
earn	pioneer systems inc pae year nov loss oper shr loss five cts loss dlrs oper net loss loss sales mln mln note net excludes losses from discontinued fabric finishing operations dlrs dlrs reuter 
earn	american shared hospital services amsh year period ended december shr profit cts loss cts net profit loss revs reuter 
earn	geo hormel and hrl qtly div cts cts previously pay may record april reuter 
acq	two bancorp usbc units merge bancorp pacific state bank lincoln city said plans merge with bancorp national bank oregon under the pact pacific state will become part the bank branch system the company said the merger expected completed after mid year following regulatory approval all local staff and management will remain the same said reuter 
acq	mts acquisition has negligible number caesars world shares 
acq	wolverine www sell two subsidiaries wolverine world wide inc said signed letter intent sell investment group two subsidiaries kaepa inc athletic footwear maker and its international marketing arm kara international inc terms were not disclosed wolverine said the action continues the restructuring operation begun last july make the company more competitive and profitable wolverine said will concentrate its effort the athletic footwear market its brooks footwear division wolverine said expects favorable results the second half result its restructuring said restructuring helped improve its financial capabilities the company reported mln dlr loss dlrs share due largely mln dlr restructuring charge and mln dlr inventory evaluation readjustment taken the second quarter since that time has sold two small retail operations closed and consolidated five domestic footwear factories and closed about retail locations reuter 
acq	pacificare phsy talks acquire hmo pacificare health systems inc said negotiations acquire capital health care member health maintenance organization servicing salem and corvallis ore the company said will not disclose terms other details the acquisition until negotiations are completed reuter 
acq	mts acquisition had talks with pratt hotel southmark caesars world purchase 
earn	initials plus iinc sees sharp sales increase initials plus said expects sales the year ending january exceed mln dlrs the company had sales last year dlrs initials said expects turn profitable some time and sees sales mln dlrs annually the end the company said now has over personal retailers marketing its products and expects have more than the end reuter 
acq	sosnoff has small number caesars caw shares martin sosnoff said his mts acquisition corp date has received only negligible number caesars world inc shares response its dlr per share tender offer for all shares sosnoff also said has held preliminary talks with pratt hotel corp prat and southmark corp forming joint venture enter into talks acquire caesars friendly transaction which sosnoff would have pct interest and pratt and southmark the remainder sosnoff said the talks with pratt and southmark are not being actively pursued the presentand may may not continued the future said there could assurance that joint venture would formed that caesars would agreed talks several preliminary contacts with representatives caesars have not resulted any indication that wishes enter into such negotiations sosnoff said said based talks with staff members gaming authorities there can assurance that the necessary regulatory review its bid for caesars world can completed the original april three expiration date sosnoff said has extended the tender until may the bid remains subject regulatory approvals and the arrangement financing pratt which owns the sands hotel and casino atlantic city where caesars operates the boardwalk regency hotel and casino recently waged apparently unsuccessful campaign acquire control resorts international inc rta against new york developer donald trump southmark owns about pct pratt hotel caesars world boasrd has urged rejection the offer the grounds that inadequate and has said would investigate alternative transactions sosnoff currently owns about pct caesars world reuter 
acq	talking point wendy international wen takeover speculation buoyed wendy international inc stock even after coca cola took the fizz out market rumors denying was interested suitor wendy retreated from earlier high and lost point when coca cola said the rumors were untrue however wendy remained volume more than three mln shares several analysts were skeptical the rumors yet they said they could not conclude takeover the fast food restaurant chain was impossible wendy declined comment takeover rumors all kinds yet wendy spokesman said the company was aware business week article which named coke potential suitor and which market sources said helped ignite the rumor mill market sources mentioned anheuser busch inc bud and pepsico inc pep alternatives coke acquirers neither those companies would comment nor would the wendy official doesn happen every day every week every month but its not unusual for linked with those companies said denny lynch wendy vice president communications however lynch would not comment specifically the current market rumors even before coke denied the rumors analysts had been skeptical takeover since atlanta based coke has stated views fast food chains customers and does not want become competitor them can put another name said kidder peabody analyst jay freedman vaguer rumors continued hold wendy stock very well could someone interested but freedman said doesn believe now the right time for wendy sold they obviously having operational difficulties always believed the right price wendy would consider offer but can believe this the right price the right time freedman said transaction takes place the buyer going control the situation freedman said just don think there anything going don think worth much more than where said joseph doyle smith barney analysts said wendy has suffered largely from the burger wars between itself mcdonald corp mcd and pillsbury psy burger king chain wendy the third largest fast food hamburger chain the lost about pct same store sales last year analysts said wendy also fumbled when introduced high priced breakfast which has since withdrawn analysts said some analysts said the company should bringing new products but too soon predict significant turnaround there are analysts however who believe wendy may vulnerable takeover james murren lawrence said wendy could worth dlrs break basis said the company has improved its debt equity ratio and wendy owns high percent its own restaurants pct they also have some attractive leaseholds their restaurants murren said murren said that despite the downturn sales last year wendy real sales store for store turned upwards the fourth quarter that was about the first time seven quarters said caroline levy hutton also believes something could going with wendy gut feeling something going happen don know what she said she estimated takeover price would least dlrs per share one analyst speculated that coke became the rumored suitor because wendy decided sell coke its fountains instead pepsi wendy currently embroiled litigation brought pepsi which holds contract with the company analysts said pepsi soda still sold the wendy restaurants reuter 
earn	patient technology inc pti year loss shr loss cts loss cts net loss loss revs year oper shr loss cts loss dlrs oper net loss loss revs mln mln avg shrs note year net excludes losses from discontinued operations dlrs dlrs reuter 
earn	gemini technology inc gmtif year loss shr loss cts net loss revs note net includes dlr write off tied discontinuation emulator board production operation reuter 
earn	societe generale reports higher profits france societe generale sgen bank which will sold the private sector the second half this year reported increased profits for last year societe generale one the three largest state owned banking groups said statement that its parent company profit for totalled mln francs pct mln profit this was line with earlier forecasts profit between and mln francs the bank parent company gross operating profits were pct billion francs against billion the increase the bank gross operating profits was mostly due rise french franc deposits and personal loans well the development its financial activities societe generale said parent company net banking earnings last year were also billion francs compared with billion while operating costs totalled billion francs against billion the previous year societe generale president marc vienot said december expected group consolidated profits rise between billion and billion francs from billion reuter 
earn	uniforce temporary unfr sets split uniforce temporary personnel inc said declared three for two stock split payable may stockholders record april reuter 
earn	manhattan national corp mlc qtr loss oper shr loss cts loss cts oper net loss loss revs mln mln mths oper shr loss six cts loss cts oper net loss loss revs mln mln note qtrs and prior exclude net realized investment gains dlrs and dlrs respectively and years and prior exclude realized investment gains dlrs and dlrs respectively reuter 
earn	kiddie products inc kidd year net shr dlrs dlrs net revs mln mln reuter 
acq	bellsouth bls completes purchase for shares bellsouth corp said completed its previously announced agreement acquire dataserv inc for exchange shares bellsouth said under the nov agreement exchanged one its common shares for every dataserv common shares the exchange reflects the feb three for two bellsouth stock split the company said reuter 
acq	rexham rxh gets takeover offer rexham corp maker packaging materials and machinery said received unsolicited offer dlrs share from nortek inc ntk nortek providence textile manufacturer has disclosed holds rexham shares about pct the outstanding the company said rexham said does not welcome the proposal but added its board will study the offer and respond due course nortek has proposed paying half cash and half nortek convertible preferred stock for rexham which has about mln shares outstanding the cash portion would include the amount previously paid for the rexham stake and the terms the convertible preferred stock would negotiated the company said rexham said received the takeover offer letter from nortek reuter 
earn	banca america italia year net profits for year ended december billion lire billion deposits from clients billion lire billion loans clients billion lire billion note the bank sold bankamerica corp last december west germany deutsche bank dbkg said the sharp fall net profit reflected various factors including higher set asides for risk coverage and high tax burden reuter 
crude	energy analyst proposes oil tariff energy analyst edward krapels said the united states should consider oil tariff keep dependence imports below pct the supply side the argument favor contingent variable import tariff most persuasive krapels president energy security analysis inc said statement house energy and power subcommittee hearing optimal tariff would one implemented only the international price crude oil falls below say dlrs barrel the demand side the obvious policy excise tax transportation fuels krapels said but william johnson the jofree corp disagreed with the oil tariff proposal saying congress should remove price controls natural gas repeal the windfall profits tax oil companies allow exports alaskan oil and provide tax incentives for oil production the least preserve exisiting tax incentives for drilling also urging filling the strategic petroleum reserve faster rate richard adkerson arthur andersen and told the subcommittee oil imports were expected increase because funds for exploration and development domestic oil sources cannot now economically justified due low oil prices reuter 
earn	security capital scc suspends dividends security capital corp said has suspended quarterly cash dividend payments indefinitely the company also said its board has withdrawn authroization for the company buy its stock the open market its previous dividend payment was five cts february security capital said this action was taken response its continuing operating losses primarily benjamin franklin savings association houston based subsidiary reuter 
earn	auditors lift qualification brunswick auditors brunswick corp lifted four year qualification the company financial statements vice president finance frederick florjancic told securities analysts here the financial results for the diversified leisure and defense aerospace company had been qualifed arthur andersen and since the qualification related certain tax liabilities amounting mln dlrs associated with medical division sold brunswick said reuter 
earn	alc communications corp alcc loss shr loss loss net loss loss rev mln mln note net includes loss mln dlrs for restructuring charges reuter 
earn	lesco inc lsco qtr feb loss shr loss cts profit three cts net loss profit revs mln mln reuter 
earn	seismic enterprises inc seis qtr loss shr loss eight cts profit cts net loss profit revs year shr loss five cts profit cts net loss profit revs avg shrs reuter 
earn	alc alcc anticipates qtr profit alc communications corp said that because strong traffic growth and cost reductions anticipates reporting profit for the first quarter versus loss mln dlrs cts share for the first quarter earlier the company reported net after tax loss for mln dlrs dlrs share compared with loss mln dlrs dlrs share reuter 
earn	varlen corp vrln declares qtly dividend qtly div cts cts prior pay april record april reuter 
earn	analysis and technology inc aati hikes payout annual div cts cts prior pay april record march reuter 
crude	iraq replaces oil minister big govt shuffle iraqi president saddam hussein carried out his first major government shakeup five years tonight naming new oil minister shuffling three posts one minister was dropped the shuffle announced presidential decree gave reason for the changes the government the arab baath socialist party which has ruled iraq since revolution the decree named the head the iraqi national oil company inoc isam abdul rahim chalaby take over oil minister replacing qassem ahmed taqi taqi appointed oil minister the last significant government reorganization was moved minister heavy industries reuter 
acq	caesars caw has comment mts talks caesars world inc declined immediate comment news that martin sosnoff mts acquisition corp has held preliminary talks with two companies the possibility forming joint venture pursue the acquisition caesars earlier today mts said held talks with pratt hotel corp prat and southmark corp forming venture acquire caesars mts also reported that received negligible number caesars world shares response its dlr per share tender offer earlier this month caesars world rejected the sosnoff takeover bid and said considering alternatives that include restructuring sale the company another party reuter 
acq	dixons says citicorp withdraw cyclops offer dixons group plc said received letter march from citicorp capital investors ltd part the cyacq investor group making rival bid for cyclops corp cyl proposing drop the group offer dixons would sell cyclops industrial businesses citicorp cyacq main equity investor appears ready pull out and deal directly with for merely part the company said dixons raises questions the strength their consortium and the purpose their offer dixons also said federal court had refused request counsel for cyacq audio video affiliates inc ava and shareholder plaintiff prevent dixons from completing its tender offer for cyclops also said the court refused require cyclops provide cyacq with confidential information previously provided dixons friday cyacq corp investor group led audio video affiliates and citicorp raised their offer for cyclops dlrs per share from dlrs per share certain conditions were satisfied last week dixons said won out over rival bidders for cyclops after getting pct cyclop oustanding with dlr mln dlr tender offer that expired march friday dixons agreed reopen its tender offer until march wednesday dixons today called cyacq higher dlr share offer for cyclops highly conditional reuter 
earn	primark corp pmk regular dividend qtly div cts cts prior qtr payable mary record april reuter 
earn	saxon oil development partners sax payout qtly div two cts two cts prior pay may record march note full name saxon oil development partners reuter 
earn	ibm ibm rebound seen bernstein analyst international business machines corp hit two year earnings slump should begin come back the end and post strong growth analyst rick martin sanford bernstein inc said there will increasing momentum earnings albeit not until later this year martin said technology conference sponsored the investment firm martin said the coming rebound reflects new product introductions the mid range area rather than any drastic improvement economic growth capital spending ibm whose stock hit week low dlrs mid january has come back lately ibm was trading dlrs analysts computer industry executives and the company itself have highlighted the external economic factors hampering ibm growth but martin said the product cycle was key understanding the rise and fall ibm and other computer companies and pointed digital equipment corp dec support his view replacing the product line earnings have soared said dec line vax computers contrast dec ibm faultered with incompatible mid range product line new computer code named fort knox was supposed tie together number ibm mid range systems but the product never got off the ground said instead aspects the computer were integrated into the ibm machine introduced last year and other aspects should unwrapped martin said the major story will rebound its mid range business said sales ibm mid range computers fell about pct but the new products will lead pct growth mid range computers this year and pct growth high end computers primarily the sierra line are coming the end their product life cycle although growing pct the midst ibm sharply lower year growth will drop pct and pct said overall revenue growth should rise about pct against pct growth and pct martin said last year ibm earned billion dlrs revenues billion dlrs investors asked what this all meant dec whose earnings and stock have been propelled strong slew product introductions the mid range area response martin said did not view ibm threat dec nor dec threat ibm because both companies were catering largely existing customer bases rather than stealing market share from one another reuter 
acq	citicorp cci seeks cyclops cyl steel unit citicorp capital investors ltd unit citicorp said wants buy cyclops corp steel assets from dixons group plc and willing pay mln dlrs nearly mln dlrs more than had been offered for the assets alleghany corp the disclosure the citicorp unit interest cyclops industrial group came disclosure documents filed dixons group with the securities and exchange commission alleghany msl industries inc unit had agreed buy the steel assets from dixons group for mln dlrs dixons group has tendered for all outstanding cyclops shares dlrs share cash the citicorp unit said its higher offer came about three dlrs more for each cyclops share outstanding condition its offer said dixons would have increase the cash price was pay for each cyclops share dlrs cash dixons friday extended the expiration time its tender offer until midnight est march reuter 
earn	brunswick sees higher first quarter brunswick corp expects first quarter sales dramatically and profits well chairman and president jack reichert said after securities analysts meeting declined more specific the first quarter brunswick reported earnings mln dlrs cts share sales mln dlrs reichart noted that results its two newly acquired boat manufacturing companies will included the company first quarter report brunswick expects its recreation centers benefit from increased attention the sport bowling resulting from acceptance the summer olympics bowling exhibition sport and medal sport the pan american games said said field testing new bowling concept involving electronic features being readied for test marketing this summer and successful could materially benefit operations brunswick currently test marketing california health club facility adjoining bowling center said turning its defense operations reichert said expects the division receive significant contracts the near future year end brunswick defense contract backlog stood mln dlrs frederick florjancic vice president finance told analysts brunswick was disappointed two credit rating services recently downgraded the company debt which stood about mln dlrs year end are confident can service our debt and bring down the very near term based strong cash flow from brunswick expanded boat operations florjancic said shareholders the company april annual shareholders meeting will asked approve increase the authorized common shares outstanding mln from mln shares company spokesman said reuter 
acq	mark unit begin conrac cax tender mark industries inc said plans begin tender offer dlrs share for all outstanding shares conrac corp cax stamford conn maker control instruments and telecommunications products mark said owns about shares about pct conrac outstanding shares the offer made through mark acquisition corp wholly owned subsidiary will not conditioned any minimum number shares being tendered the company said the tender offer will conditioned upon among other things the completion financing arrangements the terms and conditions the offer will described documents filed with the securities and exchange commission and mailed conrac shareholders soon possible bear stearns and expected act dealer manager for the offer said conrac spokesman declined comment conrac has about mln shares outstanding its shares closed off about shares changed hands mark williamsville maker pastic products and industrial control equipment reuter 
earn	weatherford wii suspends preferred payouts weatherford international said suspended indefinitely payment its regular quarterly dividend cts per share its convertible exchangeable cumulative preferred stock weatherford said this will the sixth non payment the dividend the stock said payment would have been april weatherford also said the holders the preferred stock will have the right elect two additional directors the board directors reuter 
acq	mhi group affiliated with cemetary offer mhi group inc said affiliated with several investors who have entered into letter intent providing for the purchase star david memorial gardens and cemetery the company said those investors will under certain circumstances cede their rights under the letter intent and any definitive agreement purchase the fort lauderdale fla funeral home and cemetery business mhi reuter 
acq	harcourt hbj disappointed with harper hpr harcourt brace jovanovich inc said disappointed that negotiations with harper and row publishers inc are underway harcourt made dlrs share unsolicited bid march march harcourt said three its officers met with harper financial advisor but has had discussions since then harcourt said does not plan increase its bid harcourt bid was preceded earlier dlrs share bid theodore cross harper had response harcourt announcement earlier today harper said recently appointed special committee independent directors had received expressions interest from several domestic and foreign firms with respect restructuring acquisition transactions harper said determination had been made any transaction and that its special committee continuing talks with interested parties effort come conclusion the near future reuter 
earn	club med inc cmi qtr jan net shr cts cts net revs mln mln reuter 
earn	driver harris drh qtr net shr profit cts loss dlrs net profit loss revs mln mln avg shr and mths shr profit cts loss dlrs net profit loss revs mln mln avg shrs note net loss and qtr includes charge cts per share for expenses related restructuring company domestic alloy business reuter 
earn	cooper development bugs restates results cooper development said revised results for the year ended october loss mln dlrs dlrs per share down from the previously reported loss mln dlrs cts per share the restatement was made because change the method accounting for combination several company controlled concerns that resulted mln dlr charge cooper development said last august cooper development combined its cooper biomedical inc unit and its cooper laboratories subsidiary with technicon instruments corp company acquired from revlon inc rev cooper spokesman said the spokesman said the transaction was accounted for acquisition but the securities and exchange commission took issue with the accounting method and said should accounted for reorganization entities under common control this treatment requires that the costs associated with the transaction expanded rather than capitalized intangible asset the company said also said that since the charged required expensing previously accrued liabilities the company will experience resulting material change its cash flow reuter 
earn	ambrit inc abi qtr jan net shr cts nil net revs mln year shr cts nil net revs mln mln note per share amounts are after payment preferred stock dividends reuter 
earn	atlantis international ltd year loss shr loss cts profit six cts net loss profit revs note net includes mln dlr writedown oil and gas properties reuter 
earn	american express declared two for one stock split 
earn	american express raises qtly dividend cts from cts 
acq	american express board approved nippon life purchase shearson interest 
earn	united illuminating uil two months feb shr dlr dlr net mln mln oper revs mln mln mths shr dlrs dlrs net mln mln oper revs mln mln note periods not reflect the terms earnings stipulation agreement among the company and various departments submitted for approval march reuter 
earn	data card datc sees lower yearend results data card corp said does not expect meet its earnings and revenue targets for the fiscal year ending march earlier the company said expected earnings per share from continuing operations cts share now sees that figure cts share about mln dlrs data card said expects revenues for the year the range mln mln dlrs down from previous estimate mln mln dlrs said integration addressograph farrington inc private company acquired aug proving more difficult than expected the company reported revenues mln dlrs and net income mln dlrs fiscal ended march reuter 
acq	pont ups stake perceptive systems pont has increased its equity stake perceptive systems inc pct from pct perceptive systems said perceptive systems venture capital firm based houston makes digital imaging equipment reuter 
acq	quaker oats oat sells vernell fine candies quaker oats said keystone partners inc has purchased vernell fine candies inc previously indirect subsidiary quaker the price was not disclosed said vernell based bellevue wash had annual sales exceeding mln dlrs vernell was acquired quaker its acquisition golden grain macaroni august reuter 
earn	lincoln savings lnsb sets first payout lincoln savings bank said its board declared initial dividend cts per share payable april shareholders record april reuter 
acq	graphic industries grph ends buyout talks graphics industries inc said terminated negotiations for the acquisition holladay tyler printing corp rockville the companies march announced that they had signed agreement principle for the acquisition reason was given termination the negotiations reuter 
earn	united uil pact may lower noncash income united illuminating said that the department utility controls approves earnings stipulation agreement submitted march will reduce through accounting procedures its noncash earnings mln dlrs dlr per share for the two month period ended february said the amount the reduction would amount cts per share earlier reported net income for the two month period mln dlrs dlr share united said the approval would lead equity return level comparable with the electric utility industry average reuter 
crude	hughes rig count rises drilling activity rose last week with the number working rotary rigs against working rigs one year ago hughes tool said the improvement was the first increase this year the weekly rig count which had dropped steadily since early january when total rotary rigs were working among individual states texas and oklahoma reported the biggest gains drilling last week with increases and respectively california and louisiana were each three and wyoming gained two additional working rigs hughes tool said counted total rigs drilling land rigs active offshore and drilling inland waters canada the rig count was two against one year ago reuter 
trade	amstutz says farm trade accord possible agriculture undersecretary daniel amstutz said possible reach global agreement scale back agricultural supports calendar speaking senate agriculture appropriations committee hearing amstutz said think can reach agreement calendar amstutz said the places high priority the uruguay round global trade talks his comments followed statement secretary state george shultz last week urging agriculture the highest priority item during the upcoming summit western heads state venice italy reuter 
earn	campbell red lake mines ltd crk qtly div qtly div canadian cts canadian cts prior pay may record april reuter 
earn	stokely usa inc stky regular dividend set qtly div three cts three cts previously pay april record april one reuter 
acq	cooper says offer must include class shares cooper canada ltd said told those who have expressed interest acquiring control the company that would entertain offer unless were made holders both class non voting shares and voting common reuter 
earn	kings road entertainment kren qtr loss qtr ended jan shr loss seven cts loss cts net loss loss revs nine mths shr loss cts loss dlrs net loss loss revs mln reuter 
earn	sterivet labs stvtf sets stock split sterivet laboratories ltd said authorized three for one split its common stock the company said the stock split subject approval its shareholders its upcoming annual meeting reuter 
money-fx	chicago futures leader says markets can adapt foreign currency futures markets would not harmed the leading industrial countries agreed restrict currency movements within narrow band said leo melamed chairman the chicago mercantile exchange cme executive committee the target zone would not affect our market think all pct range the deutsche mark gives healthy market melamed told reuters interview were willing live the old smithsonian era with four pct shift said referring permitted currency fluctuations the early one thing you can adjust make each contract larger value chairman the cme melamed was instrumental the development currency futures which now are crucial the chicago exchange melamed said capital flows which estimated can approach billion dlrs day would overwhelm efforts governments control currency fluctuations they can for day terms intervention hour week maybe but not over period time unrealistic and doesn work and unnecessary the cme top policymaker also said decision the exchange advance the quarterly settlement time its stock index futures contract the morning from the afternoon would help eliminate dramatic price gyrations futures and equity markets called triple witching day think that the settlement the morning will have salutary effect that over longer period time think this issue triple witching will away because the change the structure next june when the move scheduled into effect said melamed said proposed changes floor practices traders the popular standard and poor stock index future would address complaints trading abuses and stimulate trading two weeks ago the cme board directors proposed barring brokers the top step the pit from trading for their own account the board also proposed requiring brokers engaged dual trading elsewhere the pit record personal trades the nearest minute and curbing trading between broker groups the changes will time have extremely positive effect the marketplace that going prove very very instrumental increasing volume over time said predicting the increase would come within year melamed also chairman dellsher investment inc said the cme last week withdrew proposal put point limit the and index daily price movement when the commodity futures trading commission told the exchange could not temporary program the cme also received many negative comments many more than anticipated melamed conceded many futures commission merchants predicted sell orders would accelerate the event the price approached the bottom limit reuter 
earn	tcby enterprises inc tcby qtr feb net shr eight cts five cts net sales avg shrs note per share amounts adjusted for three for two stock splits april and july reuter 
acq	hecla buys stake greens creek venture hecla mining said agreed buy pct stake the greens creek joint venture from amselco minerals inc unit british petroleum plc north america inc unit the greens creek venture engaged final project engineering gold silver lead zinc ore body admiralty island about miles southwest juneau alaska hecla said estimates its total investment the project including its share production costs will about mln dlrs reuter 
earn	sprint optimistic despite losses sprint the telephone venture gte corp gte and united telecommunications inc set last june optimistic despite expecting report net loss about mln dlrs this year david holland president sprint dallas based southwest division told reuters interview that did not know what would report for the first quarter but agreed that for the year the company should have about the same results last year when lost about mln dlrs noted the company was slated spend billion dlrs over two plus years set its network holland added that sprint was still paying almost mln dlrs year american telephone and telegraph order lease its lines said miles its mile fiber optic telephone line are now the ground and miles are operable the end the year said pct the company subscribers will carried its fiber optic lines instead leased att lines compared with pct the end the second quarter fiber optic lines which send digital light impulses along microscopic glass lines quicker more accurate and more economical than traditional copper cables fiber optic line the diameter dime can carry the same amount information copper cable feet diameter the end the year will have the capacity carry pct all long distance phone calls holland said said att currently controls about pct the long distance market with mci communications corp mcic about pct and sprint five seven pct holland said sprint rates which were pct lower than att when did not pay gain access local telephone exchanges were now about pct lower now that all the companies have equal access said the company was cutting back its advertising about pct this year the same time said sprint had increased its total number customers four mln from two mln from july last january captured the fiber high ground shown the importance said concerning the deregulation att holland said believed att should given some flexibility but should regulated pricing plans they dominant the market place said adding that att should deregulated when there true competition the marketplace takes time prove ourselves and lot money said adding maybe two four years out hard say holland said was not concerned about talk that sprint two owners might squabbling that corporate raiders such the belzberg family canada might putting pressure them sell off their loss making sprint holdings they are two excellent partners who have stated time and time again their support sprint said adding that was amazed industry talk that the two companies might arguing there evidence that said said sprint progress such areas revenues number customers and construction was track even ahead many areas looking beyond the united states holland said sprint currently had direct access countries and aimed pct the free world nations want every country that att serves said said sprint currently does not have access mexico but was working noted negotiations between mexico and gte sprint the forerunner sprint had been broken off the september earthquake which had devastated the nation telephone network reuter 
acq	avalon avl stake sold deltec avalon corp said that deltec panamerica has arranged sell its pct stake avalon and that deltec three representatives avalon board had resigned avalon spokeswoman declined indentify the buyer deltec stake give terms the sale addition avalon said three other directors resigned said benjamin macdonald director tmoc resources ltd the principal holder avalon stock and hardwick simmons vice chairman shearson lehman bros inc were then named the board reuter 
acq	quaker oats oat sells unit keystone the quaker oats said sold its vernell fine candies inc unit privately held keystone partners inc for undisclosed price the company said vernells had sales around mln dlrs the year ended august quaker oats acquired vernells august when purchased golden grain macaroni reuter 
earn	clabir corp clg qtr jan net shr profit cts loss two cts net profit loss revs mln avg shrs mln year shr profit two cts loss cts net profit loss revs mln mln avg shrs reuter 
money-fx	profitted from autumn intervention lawson britain has reaped profits using stronger pound buy back dollars used the government last autumn support sterling during currency crisis chancellor the exchequer nigel lawson said said parliamentary debate can now tell the house commons that the dollars that were sold from the reserves september and october have subsequently all been repurchased profit some tens millions pounds hindsight had proved him right resist market pressures then for two percentage point interest rate rise said the increase base rates was instead limited then one point during debate the british budget which lawson unveiled last week said that during the period foreign exchange market turbulence which followed the somewhat inconclusive group five and group seven meetings the end september authorised the bank england intervene unusually heavily order buy breathing space that would enable confine the interest rate rise one pct rather than the two pct the market was then pressing for said that that one percentage point increase effected october had been reversed this month two half point cuts banks base lending rates they are now pct treasury figures show that the underlying change british reserves seen guide possible bank england intervention foreign exchange markets suggest that the authorities sold around billion dlrs during september and october government sources said reuter 
earn	bay financial corp bay qtr feb shr loss dlrs profit two cts net loss mln profit revs mln mln nine months shr loss dlrs loss two cts net loss mln loss revs mln mln note includes gain disposition investments dlrs qtr and dlrs nine months respectively includes gain disposition investments five dlrs qtr and dlrs nine months reuter 
earn	corrected manhattan national mlc qtr loss oper shr loss cts loss cts oper net loss loss revs mln mln mths oper shr profit six cts loss cts oper net profit loss revs mln mln company corrects show profit rather than loss for current mths oper shr and oper net reuter 
earn	ambrit inc abi qtr jan net shr cts nil net revs mln year shr cts nil net revs mln mln note current year results includes revs mln dlrs from chocolate inc which was acquired march note shr results after preferred dividend payments dlrs for current qtr and dlrs for current year net includes gains from sale investment sheraton securities international dlrs dlrs for qtr and dlrs dlrs for year net also includes extraordinary loss from early retirement debt dlrs for year ago mths reuter 
earn	communications corp america qtr dec shr loss cts loss cts net loss mln loss mln revs mln mln six months shr loss cts loss cts net loss mln loss mln revs mln mln reuter 
money-fx	tokyo bank japan buys small amount dollars dealers said 
money-fx	miyazawa says time has come for major nations act exchange rates 
money-fx	major nations must act currencies miyazawa finance minister kiichi miyazawa said the time has come for major industrialised nations take action exchange rates line with their agreement last month paris paris britain canada france japan the and west germany agreed coooperate hold currency rates around their then current levels miyazawa would not say what specific measures major nations would take but told reporters the measures had been discussed paris the dollar fell record low against the yen this morning piercing the yen barrier reuter 
trade	yeutter sees gatt consensus farm trade reform trade representative clayton yeutter said trade ministers meeting here have reached general consensus agricultural trade reform under the latest uruguay round the general agreement tariffs and trade gatt yeutter gave precise details the understanding but told journalists the consensus covers the principles involved agricultural trade reform and what needs done improve the global situation agriculture delegates from countries are meeting informally discuss progress made since the latest gatt round was launched punta del este uruguay last september yeutter said least people seem going down the same road but how that translates ultimately into negotiations another matter entirely there seems understanding the need deal with the problem quickly and more common understanding how are going get from here there yeutter said however the hard work still come with couple years tough negotiations ahead said ludicrous for the nations the world plough immense amounts financial resources into the production items that nobody wants buy said said the long term answer switch some the financial resources now committed agriculture other more productive areas this would help agriculture because some its inefficient non productive segments would stop operating said individual segments many countries may lose the process but should result more rational system world wide production within years said important that the agriculture negotiations reach relatively early conclusion because the spending billion dlrs year and the european community probably more than that which ineffective use financial resources said asked about the prospect priority for agriculture the negotiations said one has politically realistic there any chance getting agricultural trade reform done two three years going have part larger package reuter 
earn	swire seen reporting pct rise profit swire pacific ltd swpc hkg likely show more than pct rise operating profits when reports results tomorrow reflecting gains its aviation and property businesses share analysts said analysts polled reuters estimated after tax profits from operations will between billion and billion dlrs compared with billion they also said swire will have extraordinary gain about billion dlrs from the flotation its cathay pacific airways ltd caph hkg unit last may swire had extraordinary gain mln dlrs share analysts said swire will set cent final dividend for its shares making total cents after cents adjusted for two for one bonus issue aviation and properties together account for pct the company net asset value and about pct its net profits analysts said the company aviation division consists its majority stake cathay pacific airways ltd and its pct interest hongkong aircraft engineering ltd which also pct owned cathay cathay last week reported profits climbed billion dlrs from mln partly because lower fuel costs and greater traffic swire share cathay which stood pct before the flotation fell pct the end last year and has since slipped pct hongkong aircraft reported this month its net profits rose pct mln dlrs tony measor analyst hong leong securities ltd estimates swire profits will billion dlrs much depends properties said measor and they did lot better the second half the year estimates profits from the firm wholly owned swire properties ltd unit range widely from mln dlrs mln compared with mln dlrs swire properties recorded interim profit mln dlrs for the first half well below mln dlrs for the same period but analysts said that was due mainly the low level completion new residential flats the firm properties consist mainly the taikoo shing residential development and two luxury housing projects hoare govett asia ltd said the completion flats taikoo shing will have yielded profits mln dlrs second half during the year property prices continued rise more people bought real estate benefiting from low interest rates analysts said the end last year flats taikoo shing were selling dlrs per square foot about pct from year ago said frederick tsang mansion house securities ltd swire developing large commercial and hotel complex the central business district hong kong but will not provide income until the first stage completed next year the company also sold three properties and part interest proposed hotel development which should result extraordinary gains mln dlrs according james capel far east ltd swire trading and manufacturing operations are expected earn mln dlrs pct from but its shipping and offshore services are likely post small loss about mln dlrs because depressed market conditions reuter 
crude	australian minister sees targeted oil tax strategy australia crude oil tax strategy probably best tackled terms targeted rather than broadly based approach federal resources and energy minister gareth evans told meeting here told the australian petroleum exploration association apea annual conference there was prospect developing package that would recognise the government economic priorities while also meeting some the industry concerns evans was referring nearly completed government review oil taxation evans said there were plenty examples where targeted approaches oil industry taxation had produced good results recent years these include the reduction the top marginal crude excise rate old bass strait oil found before september pct from pct and the waiver excise onshore oil announced last september said the industry through the apea has been calling for the elimination secondary taxation oil order boost incentives for prospecting against background weak prices and australia relatively low exploration levels while nobody wants add further unnecessary complexity already complex taxation regime inclined favour these kinds tailored approaches ahead sweeping changes which leave government revenue much reduced and may still leave lot uncertainty what individual companies are going major areas evans said said the government did not intend change its resource rent taxation rrt legislation now before parliament response industry calls allow all exploration expenditure given area deductible previously reported rrt tax pct limited highly prospective offshore areas based profits after certain rate return has been achieved for individual projects apea has said not true profit based tax because exploration deductibility limited successful projects evans said the decision not change rrt was based more than anything the government desire ensure the certainty and stability the new regime adding that major investments have already been planned the existing ground rules reuter 
trade	gatt round may stop growing trade problems successful new gatt general agreement tariffs and trade round needed halt growing bilateral trade problems between major trading partners trade representative clayton yeutter said yeutter new zealand for informal gatt ministerial talks told reuters bilateral trade disputes are increasing because the multilateral system inefficient that really strong rationale why need new gatt round said the very existence all these bilateral irritants clearly emphasises the need develop multilateral solutions some these problems the eighth gatt round negotiations was launched punta del este uruguay september agriculture and services were included the negotiations for the first time the growing debt burden latin american and african nations will also provide impetus for the gatt round succeed said clearly those countries need develop their export endeavours and they need open markets for that happen and that the basic objective the new gatt round said but said the gatt round long term endeavour will not give any short term relief for debt ridden countries but will make difference years worthwhile activity from their standpoint because these debts are not going away the next year two said they ought very strongly supported the gatt round mechanism for relieving their debt burdens making possible debt amortisation the future said reuter 
trade	nakasone intervenes microchip dispute with prime minister yasuhiro nakasone intervened try resolve japan escalating dispute with the over semiconductor trade government officials said today cabinet meeting nakasone told trade and industry minister hajime tamura redouble his efforts calm anger over what sees japan unfair trade practices semiconductors nakasone intervened only two days before scheduled meeting the reagan administration economic policy council consider whether japan reneging its microchip pact with the that pact agreed last year after months negotiations calls japan stop selling cut price chips world markets and raise its imports semiconductors senior officials have accused tokyo failing live the accord and have threatened retaliatory action yesterday tamura ministry international trade and industry miti launched last ditch attempt salvage the pact writing letters policy makers setting out japan case and telling japanese chip makers cut output his letter the contents which were released today tamura said miti survey carried out the beginning march showed japanese producers were not selling cut rate prices asian markets separate letter sent senior officials miti vice minister for international affairs makoto kuroda suggested the two countries could conduct joint investigation into allegations japanese chip dumping such markets reuter 
money-fx	sumita says bank japan will intervene necessary 
crude	world bank chief pledges support indonesia world bank president barber conable pledged the bank support help indonesia adjust lower world oil prices but said further deregulation its protected economy was needed speaking reporters after talks with president suharto said expected jakarta more liberalise the economy and deregulate trade policy indonesia hurt the fall oil prices last year which cut the value its crude exports half the third world sixth largest debtor has received billion dlrs from the world bank the past years conable said the world bank which granted indonesia mln dlr loan last month help its balance payments was prepared back jakarta taking the right steps adjust lower oil and primary commodity prices are prepared support those steps which believe are consistent with the development the indonesian economy said said jakarta willingness move quickly after last year collapse oil price saved indonesia from some the difficulties now faced other countries indonesia devalued its currency pct against the dollar september avoid balance payments crisis and has announced series measures since may intended stimulate exports encourage foreign investment and revitalise the economy however key monopolies areas like steel and plastics and high tariff barriers remain place conable arrived indonesia saturday and has since met indonesian cabinet ministers review the country borrowing needs and the impact falling oil prices the country reuter 
money-fx	sumita says bank will intervene necessary bank japan governor satoshi sumita said statement the central bank will intervene foreign exchange markets stabilise exchange rates necessary close cooperation with other major industrial nations sumita said the bank will take adequate measures including market intervention necessary line with the february paris agreement six major industrial nations canada britain france japan the and west germany agreed cooperate stabilising exchange rates around current levels sumita statement was issued after the dollar slipped below yen hit record low inevitable that exchange rates fluctuate under the system floating rates sumita said the fact the dollar plunged below yen does not mean anything significant under the floating system said the six nations agreed paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects their countries the paris statement said reuter 
trade	yeutter says japan trade difficulties remain trade representative clayton yeutter said was unsure whether some the trade issues straining japanese relations would resolved before the two countries open trade talks late april are having high level discussions them the issues within the united states the relationship some those very strained between japan the moment and need relieve those strains the earliest possible date said not sure can wait until late april added yeutter new zealand for two day informal meeting trade ministers who are reviewing the uruguay round the general agreement trade and tariffs gatt said will meet the japanese delegation over the next few days but declined discuss methods relieving the strain between the two countries yeutter said earlier the three most contentious trade issues were semiconductors japanese government unwillingness allow public entities buy super computers and the barring firms from the eight billion dlr kansai airport project near osaka the japanese delegation the gatt talks said statement yesterday they are making major efforts dismantle trade barriers their country convinced that they are attempting move their policies the right direction the question how far and how fast yeutter said reuter 
earn	and pretax profit mln stg mln 
crude	kuwait says opec mln bpd below ceiling kuwaiti oil minister sheikh ali khalifa sabah said opec was producing well below its oil output ceiling and this would help prices move higher according kuwaiti newspaper interview the rai aam newspaper quoted him saying opec was pumping mln barrels per day bpd less than its mln bpd ceiling while consumers were drawing down their petroleum stocks rate mln bpd long opec maintains its output curbs demand for its oil will rise april and may sheikh ali said adding that kuwait was strongly committed its opec quota reuter 
earn	peninsular and oriental year earnings per one stg deferred stock div making turnover billion stg billion pretax profit mln mln tax mln mln note company full name peninsular and oriental steam navigation plc porl net operating costs billion stg billion share profits associates mln mln operating profit mln mln investment income mln mln net interest payable mln mln employee profit sharing mln mln minority interests mln debit mln debit extraordinary items mln credit mln credit group operating profit includes service industries mln mln passenger shipping mln mln housebuilding construction development mln mln container and bulk shipping mln mln and australia mln mln banking nil mln investment property income mln mln reuter 
earn	woolworth holdings pretax profit mln stg mln year end january 
grain	china says possible good harvest despite drought china summer grain harvest may good despite serious drought because the state council cabinet has spent one billion yuan irrigation and other anti drought work hong kong newspaper said wen hui bao said the drought which has affected shanxi hebei henan and shandong the most has eased with march rains south china and march snowfall the north and some new irrigation projects have come into use the drought does not worsen there hope for bumper harvest quoted experts the ministry electric power saying they gave figures the summer grain harvest was record mln tonnes from mln out total grain harvest mln the target mln reuter 
earn	woolworth holdings plc wluk end january shr shr fully diluted div making turnover billion stg billion pretax profit mln mln tax mln mln retail profit and mln mln comet mln mln woolworth mln mln other mln loss loss property income mln mln net interest payable mln mln extraordinary debit mln mln reuter 
acq	tmoc tells shareholders not accept santos bid tmoc resources ltd told shareholders not accept santos ltd stos dlr share takeover bid pending advice from macquarie hill samuel corporate services its corporate advisor said statement the santos bid was below the underlying value the shares assessed macquarie hill samuel between dlrs and tmoc formerly the moonie oil ltd said the valuation was made response earlier and still current bid dlrs share elders resources ltd elders resources holds pct tmoc mln shares tmoc said did not know elders resources response the bid that its other major shareholder the australian gas light the latter has pct stake tmoc avalon corp the has pct stake tmoc through option agreement santos which pct owned elders resources yesterday said its bid valued tmoc mln dlrs tmoc said today this was not premium over the share price before the bid and that tmoc had traded dlrs share the last two weeks tmoc said the statement that the bid was unsolicited and that santos had only pct stake despite paying four dlrs share market tmoc has oil and gas interests and pipelines which complement the operations santos the major cooper basin oil and gas producer tmoc shares today closed five cents dlrs turnover shares while santos due release its profit result today rose eight cents dlrs volume shares reuter 
earn	santos ltd stos year end dec net profit dlrs mln 
acq	williams holdings says bidding mln stg for norcros ordinary shares 
acq	williams holdings bids mln stg for norcros industrial holding company williams holdings plc said was bidding mln stg for the ordinary shares building products and packaging group norcros plc the offer would made the basis new williams shares for every norcros share norcros shares firmed gmt from close last night statement williams said was confident the merits the proposed merger and had therefore taken care propose from the outset the right terms including full cash alternative the offer will include partial convertible alternative under which shareholders would receive total mln new second convertible shares williams instead their ordinary share allocations the offer for norcros preferential shares offers one williams preferential share for each one norcros for value each and total mln stg last week williams reported that pretax profits for rose mln stg from mln speculation about bid for norcros had been circulating the market for several months dealers said initially centred bunzl plc which once held pct stake then switched williams when began accumulating shares earlier this year williams suggested holding talks with norcros possible merger but was rebuffed norcros which replied that any benefits that could achieved could also result from normal trading the six months end september norcros reported rise pretax profits mln stg from mln turnover that lifted mln from mln williams holdings began expanding from when had market capitalisation around one mln stg series acquisitions the next four years has pushed its capitalisation around mln the convertible offer would the basis four williams convertibles for every norcros share worth share the cash alternative would offer the equivalent share the announcement the bid pushed williams share price down from last night close williams said held total shares norcros pct while associate held further mln pct there was immediate response from norcros reuter 
earn	santos ltd stos year ending dec shr cents final div deferred cents full year pre tax mln mln net mln mln turnover mln mln other income mln mln shrs same note final div deferred for tax advantage until after july but not expected less than nine cents interim seven net after tax mln mln depreciation and amortisation mln mln interest mln mln minorities nil loss but before extraordinary loss mln loss mln reuter 
crude	australian oil industry continue tax campaign the council the australian petroleum exploration association apea said will press with its campaign for major improvements australia petroleum taxation structure the council said statement the industry was bitterly disappointed the australian government position taxation presented speech resources and energy minister gareth evans the apea conference earlier reported evans said was inclined target any tax changes rather than take broad based approach secondary taxation petroleum apea had expected the government make positive responses detailed industry submissions seeking the removal existing secondary tax disincentives exploration and development the council said said plans reply detail issues raised evans but its immediate concern was the decision proceed with the current resource rental tax rrt legislation evans told the conference the government did not plan accept industry pleas for changes the legislation allow deductibility unsuccessful exploration expenditure the government unwillingness allow the deduction unsuccessful exploration expenditure within the whole offshore area which rrt applies negates any claim that the tax profit based the apea council said the government missed major opportunity persuade oil exploration companies that had realistic answers the industry concerns despite its recognition the industry problems the council said the industry has called for the end all discriminatory secondary taxation petroleum citing them major disincentives time low oil prices reuter 
trade	german february import prices fall import prices west germany fell pct february from january stand pct below their level february the federal statistics office said january the import price index base was unchanged compared with december but pct lower against january february export prices same base import prices were unchanged compared with january and pct lower than february january export prices fell pct against december stand pct lower than january reuter 
acq	nippon life shearson tie seen setting trend nippon life insurance mln dlr purchase pct stake shearson lehman brothers inc brokerage unit shrewd move that other japanese insurers are likely follow securities analysts said the investment one wall street top brokerage houses likely pay off dollars and international market position they said part trend towards growing capital participation japanese insurance firms foreign financial institutions said simon smithson analyst with kleinwort benson international inc tokyo the investment shearson lehman growing firm described some analysts the top retail brokerage will give nippon life ringside seat and possibly lower commissions wall street where invests increasing percentage its assets billion dlrs they said nippon life staff will also acquire expertise business sectors which have not yet opened japan they added the agreement between the two companies calls for joint venture london focussing investment advisory asset management market research and consulting financing nippon life japan largest insurance company and the world biggest institutional investor analysts said the japanese finance ministry expected approve the deal april making nippon life the first japanese life insurance firm take stake financial firm the limit foreign assets proportion japanese insurers assets was increased pct from pct last year since then they have stepped purchases foreign stocks and sought deepen their understandng foreign markets and instruments last year sumitomo life insurance official was appointed hutton group inc unit hutton and board and sumitomo bank ltd spent mln dlrs become limited partner goldman sachs and smithson said japanese banks started buying smaller and problem plagued banks but now japanese are going for blue chip organisations said reflection what has happened manufacturing industries said brian waterhouse james capel and with historically high yen and historically low interest rates there increasing disincentive invest japan competition fund management has grown along with greater japanese savings the typical salaried employee has mln yen savings reflecting annual average savings rate pct said stay competitive fund managers must invest overseas and gain experience with financial instruments which are likely spread japan with further deregulation the high regulatory environment has delayed life insurance firms diversification now there growing number new products environment increasing competition for performance fund management smithson said reuter 
money-fx	money market deficit forecast mln stg the bank england said forecast shortage around mln stg the money market today among the main factors affecting liquidity bills maturing official hands and the take treasury bills will drain some mln stg while bankers balances below target will take out around mln stg partly offsetting these outflows fall note circulation and exchequer transactions will add some mln stg and mln stg the system respectively reuter 
earn	and plans warrant issue mark anniversary peninsular and oriental steam navigation plc porl and said plans free warrant issue the basis warrants for every stg nominal deferred stock already held mark the anniversary the company each warrant will give the right subscribe for one stg nominal deferred stock during specified period the five years starting and deferred shares were last quoted down since yesterday after the company reported pre tax profit mln stg against mln for and said produced acceptable level growth though ground has made one two areas the company has strong balance sheet and considerable flexibility for added and will concentrate expanding its established market sectors commenting the recent ferry disaster the north sea off zeebrugge the statement said the precise cause unknown the company has instituted immediate investigation and both the british and belgian governments are conducting inquiries the stricken ferry the herald free enterprise belongs townsend thoresen which became part and january and considering listing its shares japan and other important overseas financial centres the statement added reuter 
trade	canada outlines gatt agricultural reform plan canadian trade minister pat carney said that agricultural policies should not hurt world international trade and should therefore become more price responsive over time she told delegates the informal meeting trade ministers that this was one five principles canada wanted adopted reforming agriculture the general agreement tariffs and trade gatt secondly support for agriculture should avoid production incentives and thirdly countries should freeze and seek reduce government aid measures that distorted world prices carney said carney said the fourth principle was that countries should not introduce new import barriers not mandated existing legislation and the fifth was that these basic principles must implemented collectively carney later told reuters the canadian guidelines are basically compatible with the seven point australian proposals announced davos switzerland january european trade sources said the conference welcomed the canadian initiative but some delegates and not only the european community voiced reservations about some the principles carney said there was lot political will among the ministers here complete the uruguay round gatt under four years and that there also realisation that has done balanced way the consensus view was proceed fast can broad front and see what areas emerge where can get early conclusion she said however the meeting did not identify what those areas are carney said she said canada bilateral trade negotiations which must concluded least draft form october are progressing well reuter 
trade	philippine trade secretary pleased with gatt talks philippine secretary trade and industry jose concepcion who two days ago expressed doubts about agreements produced international conferences said was pleased with the latest gathering here concepcion told reuters interview that the informal general agreement tariffs and trade gatt meeting gave ministers from more than nations the chance examine issues with which gatt did not have the political will deal also the role the developing countries has been emphasised this particular meeting somehow has been the perception developing countries that gatt club rich countries added interview with reuters fact many the issues that have been tabled for discussion the uruguay round trade negotiations will more benefit the developed countries said concepcion said the start the taupo meeting that the uruguay round was meant shining act faith the world trade system concepcion said the philippines would address the issues trade tropical fruit and the improvement gatt machinery make more responsive said tropical fruit came from developing countries but faced non tariff barriers quantitative restrictions very high duties other nations concepcion named japan and south korea examples said would wellington for talks with new zealand which had surplus trade with the philippines encourage switch imports from other countries noted that new zealand bought its bananas from ecuador reuter 
money-fx	miyazawa says likely intervene finance minister kiichi miyazawa told parliament lower house finance committee that the expected intervene the foreign exchange market stabilise exchange rates political sources said asked the federal reserve board agreed paris last month intervene stabilise exchange rates miyazawa said yes the sources said miyazawa was also quoted saying that sceptical about the effectiveness currency reference ranges even major nations agree such idea extremely difficult set such ranges reuter 
earn	british aerospace pretax profit mln stg mln 
earn	british aerospace plc bael year shr div making pct increase turnover billion stg billion pretax profit mln mln tax mln mln note comparisons restated trading profit mln mln launching costs mln mln share profit related companies mln mln net interest receivable mln mln payable extraordinary debit mln nil trading profit includes civil aircraft mln loss mln loss military aircraft and support services mln mln guided weapon and electronic systems mln mln space and communications mln mln loss company funded research and development mln loss mln reorganisation costs nil mln loss launch costs include bae mln mln airbus mln mln bae mln mln atp mln mln reuter 
grain	portuguese grain agency ban remain sources ban portuguese court the state buying agency epac taking part cereals import tenders open private traders will remain unless reversed portugal challenged the european court justice european commission sources said they denied statement yesterday portuguese agriculture minister alvaro barreto that the commission had accepted that epac should eligible saying had taken view the matter under the terms portugal accession the european community grain import monopoly held epac being reduced pct annually until all imports are liberalised lisbon civil court decided preliminary ruling earlier this month that epac should not allowed take part had done the past tenders for the liberalised share annual grain imports reuter 
money-fx	sumita says bank will intervene necessary bank japan governor satoshi sumita said statement the central bank will intervene foreign exchange markets stabilise exchange rates necessary close cooperation with other major industrial nations sumita said the bank will take adequate measures including market intervention necessary line with the february paris agreement six major industrial nations canada britain france japan the and west germany agreed cooperate stabilising exchange rates around current levels sumita statement was issued after the dollar slipped below yen hit record low inevitable that exchange rates fluctuate under the system floating rates sumita said the fact the dollar plunged below yen does not mean anything significant under the floating system said the six nations agreed paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects their countries the paris statement said reuter 
trade	yeutter sees gatt consensus farm trade reform trade representative clayton yeutter said trade ministers meeting here have reached general consensus agricultural trade reform under the latest uruguay round the general agreement tariffs and trade gatt yeutter gave precise details the understanding but told journalists the consensus covers the principles involved agricultural trade reform and what needs done improve the global situation agriculture delegates from countries are meeting informally discuss progress made since the latest gatt round was launched punta del este uruguay last september yeutter said least people seem going down the same road but how that translates ultimately into negotiations another matter entirely there seems understanding the need deal with the problem quickly and more common understanding how are going get from here there yeutter said however the hard work still come with couple years tough negotiations ahead said ludicrous for the nations the world plough immense amounts financial resources into the production items that nobody wants buy said said the long term answer switch some the financial resources now committed agriculture other more productive areas this would help agriculture because some its inefficient non productive segments would stop operating said individual segments many countries may lose the process but should result more rational system world wide production within years said important that the agriculture negotiations reach relatively early conclusion because the spending billion dlrs year and the european community probably more than that which ineffective use financial resources said asked about the prospect priority for agriculture the negotiations said one has politically realistic there any chance getting agricultural trade reform done two three years going have part larger package reuter 
trade	nakasone intervenes microchip dispute prime minister yasuhiro nakasone intervened try resolve japan escalating dispute with the over semiconductor trade government officials said today cabinet meeting nakasone told trade and industry minister hajime tamura redouble his efforts calm anger over what sees japan unfair trade practices semiconductors nakasone intervened only two days before scheduled meeting the reagan administration economic policy council consider whether japan reneging its microchip pact with the that pact agreed last year after months negotiations calls japan stop selling cut price chips world markets and raise its imports semiconductors senior officials have accused tokyo failing live the accord and have threatened retaliatory action yesterday tamura ministry international trade and industry miti launched last ditch attempt salvage the pact writing letters policy makers setting out japan case and telling japanese chip makers cut output his letter the contents which were released today tamura said miti survey carried out the beginning march showed japanese producers were not selling cut rate prices asian markets separate letter sent senior officials miti vice minister for international affairs makoto kuroda suggested the two countries could conduct joint investigation into allegations japanese chip dumping such markets reuter 
earn	prudential corp pretax profit mln stg mln 
acq	nippon life shearson tie seen setting trend nippon life insurance mln dlr purchase pct stake shearson lehman brothers inc brokerage unit shrewd move that other japanese insurers are likely follow securities analysts said the investment one wall street top brokerage houses likely pay off dollars and international market position they said part trend towards growing capital participation japanese insurance firms foreign financial institutions said simon smithson analyst with kleinwort benson international inc tokyo the investment shearson lehman growing firm described some analysts the top retail brokerage will give nippon life ringside seat and possibly lower commissions wall street where invests increasing percentage its assets billion dlrs they said nippon life staff will also acquire expertise business sectors which have not yet opened japan they added the agreement between the two companies calls for joint venture london focussing investment advisory asset management market research and consulting financing nippon life japan largest insurance company and the world biggest institutional investor analysts said the japanese finance ministry expected approve the deal april making nippon life the first japanese life insurance firm take stake financial firm the limit foreign assets proportion japanese insurers assets was increased pct from pct last year since then they have stepped purchases foreign stocks and sought deepen their understandng foreign markets and instruments last year sumitomo life insurance official was appointed hutton group inc unit hutton and board and sumitomo bank ltd spent mln dlrs become limited partner goldman sachs and smithson said japanese banks started buying smaller and problem plagued banks but now japanese are going for blue chip organisations said reflection what has happened manufacturing industries said brian waterhouse james capel and with historically high yen and historically low interest rates there increasing disincentive invest japan competition fund management has grown along with greater japanese savings the typical salaried employee has mln yen savings reflecting annual average savings rate pct said stay competitive fund managers must invest overseas and gain experience with financial instruments which are likely spread japan with further deregulation the high regulatory environment has delayed life insurance firms diversification now there growing number new products environment increasing competition for performance fund management smithson said reuter 
trade	canada outlines gatt agricultural reform plan canadian trade minister pat carney said that agricultural policies should not hurt world international trade and should therefore become more price responsive over time she told delegates the informal meeting trade ministers that this was one five principles canada wanted adopted reforming agriculture the general agreement tariffs and trade gatt secondly support for agriculture should avoid production incentives and thirdly countries should freeze and seek reduce government aid measures that distorted world prices carney said carney said the fourth principle was that countries should not introduce new import barriers not mandated existing legislation and the fifth was that these basic principles must implemented collectively carney later told reuters the canadian guidelines are basically compatible with the seven point australian proposals announced davos switzerland january european trade sources said the conference welcomed the canadian initiative but some delegates and not only the european community voiced reservations about some the principles carney said there was lot political will among the ministers here complete the uruguay round gatt under four years and that there also realisation that has done balanced way the consensus view was proceed fast can broad front and see what areas emerge where can get early conclusion she said however the meeting did not identify what those areas are carney said she said canada bilateral trade negotiations which must concluded least draft form october are progressing well reuter 
earn	prudential corp plc prul year shr adjusted div making adjusted pretax profit mln mln tax and minorities mln mln profit attributable mln mln pretax profit includes long term business mln mln general insurance business underwriting loss mln mln investment income mln mln trading loss mln mln investment management mln mln shareholders other income mln mln pretax profit division includes individual division mln mln group pensions mln mln international mln mln mercantile and general mln mln prudential portfolio managers mln mln prudential property services mln loss nil reuter 
money-fx	major nations must act currencies miyazawa finance minister kiichi miyazawa said the time has come for major industrialised nations take action exchange rates line with their agreement last month paris paris britain canada france japan the and west germany agreed coooperate hold currency rates around their then current levels miyazawa would not say what specific measures major nations would take but told reporters the measures had been discussed paris the dollar fell record low against the yen this morning piercing the yen barrier asked major nations were now negotiating what measures take miyazawa said they were not measures had already been agreed paris reuter 
crude	kuwait says opec mln bpd below ceiling kuwaiti oil minister sheikh ali khalifa sabah said opec was producing well below its oil output ceiling and this would help prices move higher according kuwaiti newspaper interview the rai aam newspaper quoted him saying opec was pumping mln barrels per day bpd less than its mln bpd ceiling while consumers were drawing down their petroleum stocks rate mln bpd long opec maintains its output curbs demand for its oil will rise april and may sheikh ali said adding that kuwait was strongly committed its opec quota reuter 
interest	bundesbank allocates billion marks day repurchase pact pct 
money-fx	miyazawa says likely intervene finance minister kiichi miyazawa told parliament lower house finance committee that the expected intervene the foreign exchange market stabilise exchange rates political sources said asked the federal reserve board agreed paris last month intervene stabilise exchange rates miyazawa said yes the sources said miyazawa was also quoted saying that sceptical about the effectiveness currency reference ranges even major nations agree such idea extremely difficult set such ranges reuter 
trade	yeutter says japan trade difficulties remain trade representative clayton yeutter said was unsure whether some the trade issues straining japanese relations would resolved before the two countries open trade talks late april are having high level discussions them the issues within the united states the relationship some those very strained between japan the moment and need relieve those strains the earliest possible date said not sure can wait until late april added yeutter new zealand for two day informal meeting trade ministers who are reviewing the uruguay round the general agreement trade and tariffs gatt said will meet the japanese delegation over the next few days but declined discuss methods relieving the strain between the two countries yeutter said earlier the three most contentious trade issues were semiconductors japanese government unwillingness allow public entities buy super computers and the barring firms from the eight billion dlr kansai airport project near osaka the japanese delegation the gatt talks said statement yesterday they are making major efforts dismantle trade barriers their country convinced that they are attempting move their policies the right direction the question how far and how fast yeutter said reuter 
interest	bundesbank allocates billion marks tender the bundesbank accepted bids for billion marks today tender for day securities repurchase pact rate pct central bank spokesman said banks which bid for total billion marks liquidity will credited with the funds allocated tomorrow and must buy back securities pledged april the allocation was line with market expectations the bundesbank would provide more than the billion marks draining from this week earlier facility expires call money fell pct ahead the allocation from pct yesterday dealers said the excess allocation compensates for public funds leaving the system which the bundesbank added last week via government owned banks however major tax payments banks behalf customers drew close this week lessening the need for liquidity the call money declines surprised some dealers who speculated was because the bundesbank disbursed further government funds today however most said this had not occurred banks were well stocked with liquidity having billion marks minimum reserves the bundesbank friday from billion thursday average daily reserves over the first days the month fell billion from billion for all march banks would required hold net daily average reserves billion marks dealers said reuter 
money-fx	money market given mln stg assistance the bank england said had provided the money market with mln stg assistance the morning session this compares with the bank forecast mln stg shortage the system today the central bank bought bills outright band two pct comprising mln stg bank bills and mln stg local authority bills reuter 
acq	norcros rejects mln stg bid from williams norcros plc ncro the building products and packaging group said its board had hesitation unanimously rejecting this morning mln stg bid from williams holdings plc the industrial holding firm the company said williams per share offer was unsolicited and unwelcome and significantly undervalues norcros gmt norcros shares were quoted from yesterday close williams was higher the norcros board detailed views will sent shareholders when the formal offer document has been issued williams reuter 
grain	proof more chernobyl grain damage diplomats western agricultural attaches moscow said they had evidence substantiate rumours that last april chernobyl nuclear disaster had worse effect soviet grain than first reported current soviet interest chartering ships carry grain from the helped prompt the rumours world markets but the diplomats said they had seen reports the state press and heard comments from officials substantiate them the official media was initially slow reporting the accident but under kremlin leader mikhail gorbachev campaign for openness gradually gave more and more details land around the nuclear plant was contaminated varying degrees some now being used grow industrial crops instead grain reuter 
ship	iran said test fire silkworm missile hormuz iran has test fired its newly acquired silkworm anti shipping missile the strait hormuz and has set least two land based launching sites the area british naval source the gulf said the source who declined identified said iran had fired the chinese made missile hulk off its southern gulf naval port bandar abbas and scored hit these missiles pack fairly big punch told reuters there doubt they could used target shipping across the strait hormuz tension the gulf has risen since officials last week broke the news that iran had acquired the silkworm missiles the has said will not allow iran use the missiles choke off oil shipments and has offered its warships escort kuwaiti tankers past the missile batteries but tehran denied last sunday intended threaten gulf shipping and warned the any interference the region would meet strong response the british naval source said the silkworms were place least two sites around the strait hormuz but would not give the exact location reuter 
acq	merrill lynch mer talks canada purchases merrill lynch and inc holding talks acquiring canadian brokerage firms company spokesman told reuters said one the firms with which merrill lynch negotiating burns fry corp toronto which has already received offer from security pacific corp spc pct owned hoare govett ltd london based brokerage unit the hoare govett bid valued about mln dlrs the spokesman said the talks are the result change ontario securities laws that takes effect june currently companies outside the canadian securities industry are prohibited from owning more than pct canadian broker june foreign brokers will allowed own pct canadian brokers and the percentage will rise pct year later reuter 
acq	mark starts bid for conrac cax mark industries inc said has started the dlr per share tender offer for all shares conrac corp that announced yesterday afternoon newspaper advertisement the company said the offer and withdrawal rights expire april unless extended the offer not conditioned receipt any minimum number shares but conditioned the arrangement financing mark already owns about pct conrac mln shares outstanding reuter 
acq	ecolab ecl starts bid for chemlawn chem ecolab inc said has started its previously announced tender offer for all shares chemlawn corp dlrs each newspaper advertisement the company said the offer and withdrawal rights expire april unless extended the chemlawn board has approved the tender and merger the same price that follow ecolab said the offer conditioned receipt least shares chemlawn now has about mln shares outstanding ecolab said chemlawn has granted conditional option buy all authorized but unissued and unreseved chemlawn shares dlrs each the option exercisable the event that another party were acquire pct more chemlawn means other than tender offer for all shares higher price than ecolab offering the company said the merger agreement terminated under certain circumstasnces will entitled receive mln dlrs damages from chemlawn ecolab said officers and directors chemlawn have granted options acquire aggregate chemlawn shares about pct for the tender price again unless higher tender were made another party waste management inc wmx had originally made hostile tender offer dlrs per share for chemlawn which chemlawn rejected inadequate friday waste management said would raise its bid dlrs per share reuter 
trade	taiwan proposes further tariff cuts taiwan said plans another round tariff cuts possibly within month try narrow its trade surplus with the vice finance minister ronald said high level economic committee recommended tariff cuts products requested washington including apples chocolates and fruit juice said the cuts may come into effect the end next month taiwan trade surplus with the widened the first two months this year billion dlrs from billion dlrs the same period last year reuter 
ship	iran said test fire silkworm missile hormuz iran has test fired its newly acquired silkworm anti shipping missile the strait hormuz and has set least two land based launching sites the area british naval source the gulf said the source who declined identified said iran had fired the chinese made missile hulk off its southern gulf naval port bandar abbas and scored hit these missiles pack fairly big punch told reuters there doubt they could used target shipping across the strait hormuz reuter 
trade	taiwan proposes further tariff cuts taiwan said plans another round tariff cuts possibly within month try narrow its trade surplus with the vice finance minister ronald said high level economic committee recommended tariff cuts products requested washington including apples chocolates and fruit juice said the cuts may come into effect the end next month taiwan trade surplus with the widened the first two months this year billion dlrs from billion dlrs the same period last year reuter 
earn	standard chartered plc stch year shr div making pretax profit mln stg mln tax mln mln operating income billion mln operating expenses mln mln trading profit before charge for bad and doubtful debts mln stg mln charge for bad and doubtful debts mln mln share profits associates mln mln minority interests mln debit mln debit extraordinary items mln debit mln credit operating income includes interest income billion billion interest expenses billion billion other operating income mln mln operating expenses include staff mln mln premises and equipment mln mln others mln mln pretax profit includes north america mln mln asia pacific mln mln middle east and south asia mln mln tropical africa mln mln mln mln south africa mln mln reuter 
acq	kdi kdi buy triangle microwave trmw kdi corp said has agreed principle acquire triangle microwave inc for dlrs plus contingent payment for each triangle share said holders the contingent payment units will entitled receive annual payments the extent that the predepreciation gross profits triangle microwave each the years through exceed threshholds ranging from eight mln dlrs mln dlrs the company said holders triangle microwave options and warrants will entitled receive the difference between dlrs and their exercise price plus contingent payments kdi said completion the transaction subject governmental approvals and the approval triangle microwave shareholders and the transaction valued over mln dlrs said shareholders triangle microwave controlling about pct the company stock have agreed vote favor the deal and give kdi option buy their shares under certain components triangle microwave makes microwave components kdi diversified company produces electronic components technical products and swimming pool equipment reuter 
earn	woolworth says growth prospects exciting woolworth holdings plc wluk which earlier announced pre tax profits rise pct over said its prospects for growth were very exciting the profit figure mln stg exceeded forecast some pct made during the hostile bid dixons group plc dxns last year and the company said the results were major step towards the aim making woolworth the most profitable retailing group the aimed produce growth from all its businesses and look for opportunities acquire specialist retail businesses earlier this month the group said that tentative merger talks with the high street pharmacist underwoods plc had been called off and recently announced mln stg recommended offer for charlie browns car part centres plc the and yourself centres raised sales pct and retail profit pct with its pretax contribution mln making the largest single component the company said that the improvement had been achieved substantial organic growth existing stores well the opening further new outlets and enhanced margins other sectors the comet electrical chain raised retail profits pct mln stg while the woolworth chain reported pct improvement mln the company said its property operations would increase substantially following the start joint venture deal with developers rosehaugh plc the defence costs against the billion stg bid from dixons resulted mln stg extraordinary charge the results were mln stg most analysts forecasts result the group shares rose strongly peaking from last night before easing gmt reuter 
earn	national semiconductor corp nsm qtr loss march eight shr loss cts loss cts net loss mln loss mln sales mln mln avg shrs mln mln nine mths shr loss cts loss one dlr net loss mln loss mln sales billion billion avg shrs mln mln note twelve and week periods prior year results restated for change method recognizing revenue distributor shipments quarter net loss originally reported mln dlrs cts shr sales mln dlrs and nine mth loss mln dlrs dlrs shr sales billion dlrs prior nine mths net includes mln dlr gain from cumulative effect accounting change prior year net includes extraordinary credits dlrs quarter and dlrs nine mths current year net both periods includes mln dlr pretax charge from previously announced restructuring datachecker systems and semiconductor group manufacturing operations reuter 
acq	comdata network agrees higher offer from welsh carson anderson 
money-fx	sumita says bank will intervene necessary bank japan governor satoshi sumita said statement the central bank will intervene foreign exchange markets stabilise exchange rates necessary close cooperation with other major industrial nations sumita said the bank will take adequate measures including market intervention necessary line with the february paris agreement six major industrial nations canada britain france japan the and west germany agreed cooperate stabilising exchange rates around current levels sumita statement was issued after the dollar slipped below yen hit record low inevitable that exchange rates fluctuate under the system floating rates sumita said the fact the dollar plunged below yen does not mean anything significant under the floating system said the six nations agreed paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects their countries the paris statement said reuter 
acq	comdata cdn accepts new welsh carson bid comdata network inc said has entered into definitive agreement merge into company formed welsh carson anderson and stowe for either dlrs cash dlrs cash and unit securities per comdata share the company said each unit securities would consist common shares the new company and three dlrs principal amount the new company pct subordinated debentures due said the dlr cash alternative improvement over the dlr per share price contemplated under agreement principle with welsh carson announced march five comdata said the cash and securities alternaitcve subject welsh carson affiliated investors owning least pct the stock the new company the company said investment bankers drexel burnham lambert inc and alex brown and sons inc absb found the proposal fair from financial point view said the transaction subject approval its shareholders and welsh carson obtaining mln dlrs debt financing comdata said may terminate the agreement financing not arranged april three thursday first financial management corp ffmc offered acquire comdata for dlrs per share stock and cash subject approval the comdata board under the first financial proposal comdata holders would receive more than four dlrs per share cash and could receive all stock comdata had originally planned recapitalization under which would have repurchased six mln common shares dlrs each reuter 
earn	transnational industries trsl sees loss transnational industries inc said due continuing manufacturing difficulties its alloytek inc jet engine component subsidiary expects report net loss about dlrs cts per share for the fourth quarter ended january said revenues for the period were about mln dlrs about even with those year earlier for the full fiscal year the company said earned about dlrs cts per share down from dlrs cts per share year before the company said unexpectedly large volume customer inquiries its spitz inc simulation products subsidiary has caused higher than expected business development outlays the company said expects significant contract awards spitz later this year said has started implementing plan progressively reduce manufacturing costs alloytek over the next several quarters the company said may move alloytek plant from grandville mich lower labor cost area the company said discovered the extent the alloytek problems during year end review subcontracts and related work progress for production jet engine components for general electric said will release annual results around april reuter 
acq	great western gwf sells insurance unit great western financial corp said agreed sell its john alden life insurance and its affiliated operations for mln dlrs newly formed company onwed the john alden management group general electric credit corp delivered commitment letter arranged the gecc capital markets group inc for the financing great western said the pre tax gain the sale will approximately mln dlrs and after tax gain will approximately mln reuter 
earn	sterivet stvtf sets three for one share split sterivet laboratories ltd said the board authorized three for one split its outstanding common shares subject shareholder approval the annual meeting reuter 
earn	campbell red lake crk sets quarterly dividend qtly div cts cts prior pay may record april note canadian funds reuter 
trade	gatt round may stop growing trade problems successful new gatt general agreement tariffs and trade round needed halt growing bilateral trade problems between major trading partners trade representative clayton yeutter said yeutter new zealand for informal gatt ministerial talks told reuters bilateral trade disputes are increasing because the multilateral system inefficient that really strong rationale why need new gatt round said the very existence all these bilateral irritants clearly emphasises the need develop multilateral solutions some these problems the eighth gatt round negotiations was launched punta del este uruguay september agriculture and services were included the negotiations for the first time the growing debt burden latin american and african nations will also provide impetus for the gatt round succeed said clearly those countries need develop their export endeavours and they need open markets for that happen and that the basic objective the new gatt round but said the gatt round long term endeavour will not give any short term relief for debt ridden countries but will make difference years worthwhile activity from their standpoint because these debts are not going away the next year two said they ought very strongly supported the gatt round mechanism for relieving their debt burdens making possible debt amortisation the future said reuter 
money-fx	money market given further mln stg help the bank england said provided the money market with assistance mln stg the afternoon session this takes the bank total help far today mln stg and compares with its estimate mln stg shortage the central bank bought outright mln stg bank bills band two pct reuter 
acq	princeville pvdc gets letter credit qintex ltd brisbane said westpac banking corp australia has issued commitment letter provide princeville development corp with the letter credit required under qintex proposed acquisition princeville the letter credit would ensure payment princeville contingent subordinated notes distributed shareholders record the day immediately following completion qintex tender for princeville share said issuance the letter credit still subject conditions including appropriate documentation but the letter expected issued around april three qintex said result has extended its tender offer for princeville shares until april three said through yesterday had received shares under the offer reuter 
earn	advanced computer techniques actp year net shr cts cts net revs mln mln reuter 
earn	news corp nws unit corrects dividend rate news corp ltd fox television stations inc subsidiary said will pay accrued dividend dlrs per share not the dlrs reported earlier connection with the april redemption shares increasing rate exchangeable guaranteed preferred stock for dlrs per share plus accrued dividends reuter 
earn	mcrae industries mri increases payout mccrae industries inc said raised its preferred dividend its class common stock cts per share from cts per share said the dividend was payable april shareholders record april reuter 
acq	columbia first cffs takes over bank columbia first federal savings and loan association said has acquired the insured deposits first federal maryland based hagerstown from the federal savings and loan insurance corp and reopend first federal six former offices columbia first branches the federal home loan bank board had closed first federal march because was insolvent first federal had assets mln dlrs reuter 
earn	charming shoppes inc chrs raises quarterly qtly div three cts cts prior pay april record april six reuter 
earn	angelica corp agl qtr jan net shr cts cts net sales mln mln year shr dlrs dlrs net sales mln mln note fiscal year based weeks compared wqith weeks year earlier reuter 
earn	gull inc gll qtr feb shr cts cts net sales mln mln avg shrs nine mths shr cts cts net sales mln mln note prior nine mths net includes gain dlrs from insurance payment reuter 
earn	ameriana savings bank asbi qtr net shr not given net year shr not given net note company went public february net includes pretax loan loss recovery dlrs provision dlrs quarter and provisions dlrs dlrs year reuter 
earn	griffin technology inc grif qtr net ended jan shr loss one loss eight cts net loss loss revs year shr profit cts profit four cts net profit profit revs mln reuter 
earn	petrie stores corp pst qtr jan net shr cts cts shr diluted cts cts net mln revs mln mln avg shrs mln mln avg shrs diluted mln mln year shr dlrs dlrs shr diluted dlrs dlrs net mln mln revs billion billion avg shrs mln mln avg shrs diluted mln mln reuter 
trade	indonesia urged deregulate its economy world bank president barber conable linked increased borrowing indonesia the third world sixth largest debtor fresh measures deregulate trade and dismantle protectionist barriers would like see the indonesian government continue the adjustment process move towards increased deregulation the economy conable told press conference the end three day visit jakarta conable directly linked further bank help for indonesia hard pressed balance payments further measures the government reduce protectionism and increase efficiency the world bank last month granted indonesia mln dlr trade adjustment loan said further loans would depend the economic policies indonesia adopted but said that meetings with both president suharto and leading indonesian ministers had not called for specific policy changes the initiative will have rest with the indonesian government are not here dictate them stated indonesia the only asian member opec has been badly hit last year slump oil prices which cut its revenues from crude exports half conable had what termed frank meeting this morning with suharto voiced support for measures already taken including september pct devaluation the rupiah and efforts deregulate imports and stimulate exports the government can rely the support the world bank continuing program adjustment the economic realities today world said the bank has loaned indonesia billion dlrs over the past years lending now about one billion year the world bank would probably like see further dismantling tarrif barriers and measures reduce indonesia protected monopolies areas like steel plastics and cement western bankers and diplomats said the government has already said will announce further deregulation measures but has given timetable also considering selling off loss making state companies conable said the bank would try help indonesia find funds cover its share development projects which otherwise would have scrapped postponed japan bank announced mln dlr untied credit last month reuter 
acq	argyll sells subsidiary assets for mln stg food and drink retailer argyll group plc ayll said has agreed sell its subsidiary george morton ltd seagram united kingdom ltd for about mln stg cash the consideration for morton fixed assets stocks debtors and goodwill payable completion the sale the disposal will bring argyll extraordinary credit some mln stg argyll added the agreements also depend indication from the office fair trading june that the sale will not referred the monopolies commission argyll shares were firming before the announcement reuter 
earn	vallen corp valn qtr feb net shr cts cts net sales mln mln nine mths oper shr cts cts oper net sales mln mln note current nine mths net excludes dlr gain from termination pension plan reuter 
crude	shell declare norway draugen field commercial norske shell royal dutch shell group norwegian subsidiary said has nearly concluded billion crown development scheme for norway draugen oil field and will declare the field commercial the near future pending government approval the scheme the field could come stream making norway northermost field development and the first such project the haltenbanken tract off central norway work the project could begin early january shell spokesman said shell has not released projected output levels for the field where water depth meters the spokesman said the field partners have agreed develop draugen with meter single leg concrete gravity base platform the scheme also proposes using remote subsea production wells tap the field reservoir estimated contain mln barrels oil and offshore buoy loading system transport oil from the field ship partners draugen are shell the operator with pct stake british petroleum plc unit petroleum development norway ltd pct and state owned den norske stats oljeselskap stat statoil pct reuter 
acq	bond corp has comment allied speculation bond corp holdings ltd bona australia said had comment article london evening newspaper speculating its plans for bid approach ddrinks and food giant allied lyons plc alld tony oates bond corp executive director for finance and administration said the company does not comment market rumors press conjecture added all instances this kind problems are likely arise whatever said allied shares were which values the company around billion stg london stock market analysts specializing brewery shares viewed bid from bond which they said has assets around two billion stg highly unlikely they added that rumours possible bid for allied have surfaced from time time the press and the london equity market ever since last year thwarted approach from elders ixl ltd elxa australia reuter 
acq	claremont tells sec seeks pct champion products stake two board seats 
money-fx	money market given mln stg late assistance the bank england said provided the money market with late help about mln stg this takes the bank total help today some mln stg and compares with its forecast mln stg shortage reuter 
earn	volvo group company proposes two for five issue catena which volvo volv has pct stake said was proposing two for five stock issue that will raise the company equity capital mln crowns from mln catena reported profits after financial income and costs only mln crowns from mln despite increase sales billion crowns from billion the company said that its performance was best reflected earnings after writeoffs which rose mln from mln catena increase sales was mainly due the takeover safveans february which changed the business profile catena had principally operated volvo dealer with the safveans acquisition now mainly trading and industrial company december catena sold its share the stockbroking firm jacobson och ponsbach fondkommission this yielded profit mln crowns and was reflected catena pre tax earnings which rose mln crowns from mln reuter 
crude	energy secretary optimistic incentives department energy secretary john herrington said was optimistic about the chances providing more generous depletion allowance for oil and gas producers but added that the plan faces strong opposition from some members the reagan administration herrington speaking houston oil executives breakfast meeting said administration debate over his plan for pct annual depletion allowance was heavy and strong largely because some fears that the oil industry could eventually become dependent federal subsidies the agriculture industry herrington proposed tax incentives for the oil industry were issued last week after the department energy released comprehensive report finding national security could jeopardized rising oil imports response question from mitchell energy and development corp mnd chairman george mitchell herrington said the report did not definitively rule out oil import tarrif intend keep that debate open herrington said however following his speech herrington told reuters that the new report shows oil import fee not economical herrington said for example dlr per barrel tariff oil imports would cause the nation gross national product drop much billion dlrs herrington also said believed president reagan who requested the comprehensive national security study was committed some action help the ailing oil industry quite confident understands the problems and prepared something about herrington said reuter 
earn	commercial metals cmc qtr feb net shr cts cts net revs mln mln avg shrs half shr cts cts net revs mln mln avg shrs reuter 
earn	geo hormel hrl votes two for one split geo hormel and said its directors voted two for one split payable june one record april reuter 
acq	claremont boost champion products stake claremont group ltd new york investment banking firm said intends boost its current pct stake champion products inc much pct the total outstanding common stock claremont added that asked champion put two representatives its nine member board directors claremont previously disclosed december that had agreed act concert with walsh greenwood and affiliated investment firm acquire champion products claremont said made net purchases champion products shares between jan and march march letter champion chairman john tanis claremont and walsh representatives stephen walsh and john cirigliano said they were pleased with the company performance but wanted take active management role believe that champion products has just begun evolve into the market leader will eventually become they said significant shareholders with mutual interests with the company would like actively participate this process claremont intentions and the letter were made public filing with the federal securities and exchange commission reuter 
earn	shell ltd year sales proceeds billion stg billion duty and value added tax billion billion net proceeds billion billion net profit mln mln average capital employed billion billion capital and exploration expenditure mln mln cash surplus mln mln note company wholly owned subsidiary royal dutch shell group reuter 
acq	cyclops cyl says dixons agreements binding cyclops corp said that has already stated its agreements with dixons group plc are binding and dixons will not rescind waive any provisions the agreements the company said its agreement merge into dixons does not permit provide nonpublic information cyacq which making competing offer for cyclops that had been provided dixons said other provisions dixons will not waive include its rights recover breakup fees expenses from cyclops buy cyclops common shares from cyclops cyclops noted that dixons waiver rights breakup fees the purchase common stock directly from cyclops and the provision nonpublic information cyacq are conditions cyacq increased dlr per share offer acquire cyclops shares dixons tendering for cyclops shares dlrs share yesterday citicorp cci with audio video affiliates inc ava owner cyacq said had offered acquire from dixons after the merger cyclops into dixons cyclops industrial businesses for mln dlrs more than alleghany corp currently scheduled pay for them citicorp said yesterday that its proposal would allow dixons raise its tender price dlrs per share citicorp said dixons accepted the proposal cyacq would terminate its competing offer for cyclops reuter 
acq	resources inc merger agreement resources inc said has acquired pct interest dei acquisition corp from interfirst venture corp sam myers neomar resources inc and richard morgan all dallas for warrants acquire mln shares stock and three mln dlrs notes the warrants are exercisable par value currently cts per share until march the company said the warrants were exercised full they would represent pct interest common stock said amounts due under the notes are payable soleley from proceeds the sale securities and non oil and natural gas revenues dei said dei provides specialty insulation installation and asbestos removal services said all its directors except jack manning have resigned and myers and morgan were named the board said manning has resigned president favor myers and will service vice president charge oil and natural gas operations reuter 
acq	astrotech aix director buys company stock astrotech international corp said its director kent rockwell who controls rockwell venture capital inc will buy pct the company cumulative preferred stock said will buy shares astrotech dlrs cumulative preferred stock said the shares are owned rockwell chairman and chief executive officer astrotech and kent rockwell father reuter 
earn	american cyanamid acy changes record date american cyanamid said subject approval its board has changed the record date for the quarterly dividend will pay june may from may coincide with the record date for two for one stock split that was declared the same time the dividend post split basis cts per share reuter 
earn	pneumatic scale pnu sets quarterly qtly div cts cts prior pay may record april reuter 
earn	curtice burns foods inc cbi raises payout qtly div cts cts prior pay april record april reuter 
earn	hydraulic thc splits for hikes dividend the hydraulic said its board approved three for two stock split its common stock and increased its quarterly cash dividend said the stock split will occur through pct stock distribution hydraulic common stock payable april stockholders record april the quarterly cash dividend payable april stockholders record april paid hydraulic pre split shares that are currently outstanding the company said the dividend will cts per share from cts per share will represent quarterly common stock cash dividend cts per share the share that will outstanding after the stock split the company said reuter 
earn	hughes supply inc hug qtr net shr cts cts shr diluted dlrs dlrs net sales mln mln year shr dlrs dlrs shr diluted dlrs dlrs net sales mln mln reuter 
earn	preway inc prew qtr loss shr loss cts loss dlrs net loss loss sales mln mln avg shrs mln mln year shr loss dlrs loss dlrs net loss loss sales mln mln avg shrs mln mln reuter 
money-fx	sudan rejects imf demand for devaluation sudan has rejected demand the international monetary fund for currency devaluation because such move would have negative impact its economy the official sudan news agency suna reported finance minister beshir omer quoted suna said his government also rejected imf demand lift state subsidies basic consumer goods suna monitored the british broadcasting corporation said omer made the remarks after meeting khartoum yesterday with imf envoy abdel shakour shaalan sudan burdened foreign debt billion dlrs some mln dlrs arrears the imf which declared ineligible for fresh loans february last year february sudan announced pct devaluation its pound against the dollar adjusting the official exchange rate pounds the currency since then has resisted pressure from main creditors for more currency adjustments arguing that past devaluations had failed boost exports but raised local consumer prices sudan also has incentive rate four pounds the dollar for foreign visitors and remittances expatriate workers dealers khartoum thriving black market said the dollar was sold pounds today with stringent import regulations and the government increasingly short foreign currency black market dollars are used finance smuggled imports from neighbouring countries mainly egypt kenya ethiopia and zaire western diplomats khartoum say the meetings between imf and sudanese government officials not amount formal talks but rather effort the imf monitor sudan economic performance the diplomats said sudan hoped planned four year economic recovery program would acceptable the imf serious attempt tackle the country economic troubles and persuade its gulf arab creditors pay the imf arrears this they said could provide sudan with clean bill health from the imf that could take western government creditors grouped informally the called paris club reschedule debt payments twenty three pct sudan total foreign debt owed members the paris club the diplomats said sudan finance minister said last month the country imf representative had told him the fund executive board was very pleased with the mln dlrs arrears have paid the past couple months the representative omer said said imf managing director michel camdessus said would ask saudi arabia which sudan owes about billion dlrs help khartoum pay more sudan has annual debt liability nearly mln dlrs but set aside only some mln dlrs service debts the fiscal year ending next june reuter 
earn	southern national corp snat sets stock split southern national corp said its board declared three for two stock split payable shareholders record may company spokeswoman said the payable date for the split has not yet been fixed but would shortly after the record date reuter 
earn	national semiconductor nsm cites improved results national semiconductor corp said improved results its semiconductor group helped reduce losses the third quarter and nine months the quarter ended march the group had modest sales increase and major improvement operating performance compared the year ago quarter the company said but results softened from the prior quarter because low bookings last fall for third quarter shipment and holiday shutdowns said the semiconductor maker cut net losses mln dlrs cts share from mln dlrs cts the quarter losses the nine months were reduced mln dlrs cts from mln dlrs one dlr sales grew pct the quarter mln dlrs and pct the nine months billion dlrs bookings recovered the latter part the third quarter the company said despite the improvement order rates and operating results year year pricing continues aggressive for many products said nevertheless expects the semiconductor business will continue improve this year the information systems group will continue strong sales growth based recent order trends and new product introductions said reuter 
interest	fed may add reserves economists say the federal reserve may intervene the government securities market add reserves today some economists said although others felt that the fed was likely refrain from any action those who believed the fed will intervene said would probably add temporary reserves indirectly via two billion dlrs customer repurchase agreements but others noted the fed current add need not large they also expected the federal funds rate edge lower fed funds which averaged pct monday opened pct and remained that level early trading reuter 
earn	berliner bank outlines losses berliner bank has suffered losses between mln and mln marks credits extended its stuttgart branch bank officials who exceeded their powers bank spokesman said the spokesman replying queries about press reports said could not rule out the possibility that the final loss figure may slightly above this range late last week the bank said only that the losses from the credits stuttgart would the double digit millions reuter 
earn	hughes supply inc hug sets quarterly qtly div cts cts prior pay may record may reuter 
earn	kleinert inc klrt qtr ends feb net shr cts cts net revs avg shrs note qtrs include tax gain prior qtr ended march reuter 
earn	microdyme corp mcdy qtr feb one loss shr loss nine cts profit two cts net loss profit revs reuter 
acq	calny inc rejects pepsico inc acquisition offer 
acq	dixons plans let cyclops cyl offer expire dixons group plc said does not plan extend the expiration date its tender offer for any and all common shares cyclops corp beyond tonight dixons said would accept shares validly tendered and not withdrawn midnight tonight dixons which offering dlrs share for cyclops said last week had about pct cyclops common shares its offer originally was scheduled expire march but was extended for one week yesterday citicorp cci with audio video affiliates inc ava owner cyacq said had offered acquire from dixons after the merger cyclops into dixons cyclops industrial businesses for mln dlrs more than alleghany corp currently scheduled pay for them citicorp said yesterday that its proposal would allow dixons raise its tender price dlrs per share citicorp said dixons accepted the proposal cyacq would terminate its competing dlr offer for cyclops citicorp had suggested yesterday that dixons extend its tender until march connection with the price increase reuter 
earn	international clinical laboratories inc iclb shr nine cts seven cts net revs mln mln half shr cts cts net revs mln mln note current half net includes charge dlrs from reversal investment tax credits reuter 
acq	gnb joins leveraged buyout french unit gnb inc said joined with the management the french company compagnie francaise electro chimie purchase the company for undisclosed amount the french company which produces lead acid batteries had sales mln dlrs gnb said reuter 
crude	oil tax break ridiculed house taxwriter house taxwriter said energy secretary james herrington outrageous plan restore old tax break for oil companies was both bad tax and energy policy rep pete stark california democrat and senior house ways and means committee member said herrington plan for pct depletion allowance which effect special pct tax deduction would cost seven billion dlrs year must have missed the last two years federal tax reform sleeping soundly rip van winkle stark said said statement the oil industry already pays effective lower rate tax investment pct versus aggregate corporate tax all investment pct according recent congressional research service study reuter 
acq	calny clny rejects pepsico acquisition offer calny inc said its board rejected inadequate the unsolicited offer pepsico inc pep subsidiary taco bell corp for all calny outstanding common stock dlrs cash per share taco bell recently acquired pct calny outstanding stock calny said calny said retained oppenheimer and inc consider various financial and strategic alternatives available the company reuter 
earn	mart corp raises dividend pct votes three for two stock split 
money-fx	fed governor supports commodity price guide robert heller member the board governors the federal reserve system said commodity prices could form useful guide for setting domestic and international monetary policy speaking the conservative heritage foundation heller said broadly based commodity price index may worth exploring guide monetary policy times rising commodity prices monetary policy might tightened and times falling commodity prices monetary policy might eased said commodities are also standardized avoid measurement problems and occur the beginning production give early warning signs wholesale and retail changes there need react every small fluctuation commodity prices daily basis heller said prepared text but commodity prices exhibit broad trend policy action might considered said heller said using broad based commodity price index indicator for monetary policy would also contribute stabilized currency exchange rates commodity prices are generally uniform worldwide and prices for them are more consistent than for other types goods said said other beneficial effects would stabilize export commodity prices for developing countries using commodity basket guidepost for monetary policy reuter 
earn	mart raises payout votes split mart corp said its board approved pct increase the quarterly dividend and declared three for two stock split the company raised its dividend cts presplit share from the previous cts share after the split the new quarterly dividend rate equivalent cts share payable june eight record may said the additional shares will distributed june five record may reuter 
acq	southmark sells national heritage stake national heritage inc unit southmark corp said began initial public offering two mln shares common stock price dlrs share all the shares are being offered national heritage which will trade under symbol nher nasdaq through lead underwriter drexel burnham lambert inc proceeds will used increase working capital complete renovations leased facilities and repay certain debts southmark after the offer southmark will retain about pct the mln outstanding common shares national heritage which operates long term nursing care facilities reuter 
acq	owens illinois acquisition completed oii holdings corp concern formed kohlberg kravis roberts and said completed its previously announced acquisition owens illinois inc under terms the february agreement oii paid dlrs per common share and dlrs per dlrs convertible preferred share oii said each common share still outstanding the time the merger has been converted into the right receive dlrs per share and all preference shares not converted will redeemd april redemption price dlrs per preference share plus accrued and unpaid dividends oii said has assumed owen pct sinking fund debentures due june pct sinking fund debentures due november and pct debentures due april oii said the new york stock exchange said the securities will delisted result the merger oii said anticipated that the securities will traded the over the counter market the surviving company will known owen illinois inc said reuter 
acq	chrysler lamborghini still joint venture talks joint venture talks that could lead chrysler corp taking stake italian car maker automobili lamborghini spa are continuing lamborghini spokesman said told reuters the two companies are discussing number topics ranging from joint venture the production area chrysler becoming shareholding partner the italian firm the spokesman declined comment whether chrysler was interested acquiring control lamborghini the two sides were close accord said the two companies are discussing the possibility jointly developing sports car aimed primarily the market the spokesman said chrysler officials detroit had already visited lamborghini production plant bologna and another visit may scheduled lamborghini which controlled the mimran group switzerland broke even last year sales billion lire said chrysler also holds pct interest italian sports car producer alfieri maserati spa reuter 
earn	data architects inc drch qtr feb net shr cts cts net revs reuter 
earn	passport travel inc ppti qtr feb net shr two cts nil net sales reuter 
earn	shear industries inc hsi qtr feb net oper shr cts cts oper net revs mln mln nine mths oper shr cts cts oper net revs mln mln note prior year net excludes tax credits dlrs quarter and dlrs nine mths prior nine mths net includes gain from sale real estate dlrs reuter 
earn	prudential records best results six years prudential corporation plc which earlier announced pct rise pre tax profits said had recorded its best general insurance result for six years but had not reached satisfactory levels profit other areas group chief executive brian corby told news conference that despite returning trading profits the international division and the mercantile and general division had not reached satisfactory levels but said welcomed mercantile and general trading profits and was optimistic about both that and the international division the acquisition the life company jackson national had small effect but its full effect would felt the results corby said the group also intended expand the number its estate agency firms bought last year and hoped they will comprise between and pct total company profits the future hope they will very profitable very shortly are looking for profits from the estate agencies themselves well the insurance products associated with them corby said prudential pre tax profits rose from mln stg mln stg reuter 
earn	crs sirrine take write off crs sirrine inc said plans major restructuring its balance sheet that will include write off between mln and mln dlrs most which would intangible goodwill from the company past acquisitions the company said the remainder its write off would include one time expense for future costs related early retirement programs office consolidations and increase the general reserve for adjustments and contingencies bruce wilkinson president the company said the charges the company third quarter earnings for the period ending march would significantly impact third quarter results but would not affect the company cash position expect have the biggest operating backlog the company history june the end our fiscal year wilkinson said believe the action being proposed will begin contribute improved earnings the fourth quarter our fiscal and throughout fiscal the company which one the nation largest construction firms also said termination its defined benefit retirement plan would produce pre tax benefit about mln dlrs due overfunding the plan its second quarter ended dec crss had net earnings dlrs revenues mln dlrs reuter 
earn	flowers industries inc flo qtr march march end shr cts cts net sales mln mln nine mths shr cts cts net mln sales mln mln note twelve and week periods reuter 
earn	flowers industries flo sees lower year net flowers industries inc said expects lower earnings for the current year due operating losses incurred recent acquisitions and possible nonrecurring losses resulting from its restructuring efforts for the year ended june flowers earned mln dlrs today reported nine month earnings mln dlrs down from mln dlrs year before flowers said expects fiscal however show the best growth profits its history due the growing profitability ongoing businesses cost control efforts higher productvitiy and lower taxes flowers said losses suffered its west texas operations and five plants acquired the start the third quarter from cfs staley continental and wolf baking severely hurt results said the cfs and wolf plants are expected contributing profit the end the fiscal year and seeking bring the west texas operations acceptable levels profitability the end the fourth quarter well reuter 
earn	technitrol inc tnl qtr shr cts cts net mln revs mln mln year shr dlrs dlrs net mln mln revs mln mln reuter 
earn	general nutrition inc gnc qtr net qtr ends jan shr profit eight cts loss cts net profit loss revs mln mln mths shr profit cts loss cts net profit loss mln revs mln mln note includes provision for store closings foreign operations for qtr and for qtr prior includes provision for store closing costs and unproductive inventory for qtr and mln for qtr prior reuter 
acq	air pacific western airlines set new name pacific western airlines corp said the airline resulting from the previously announced merger its pacific western airlines ltd unit and canadian pacific air lines ltd would named canadian airlines international ltd effective april pacific western said the two airlines services and schedules would also integrated april previously appointed management for the new airline the new airline canada second largest will have planes flying destinations countries pacific western recently acquired canadian pacific airlines for mln dlrs from canadian pacific ltd reuter 
earn	plenum publishing corp plen qtr net shr cts cts net gross income mln mln year shr dlrs dlrs net mln mln gross income mln mln note share adjusted for five for two stock split effective yesterday net includes gains sale securities pretax dlrs dlrs quarter dlrs dlrs year reuter 
earn	honeybee inc hbe qtr net oper shr cts five cts oper net sales year oper shr cts cts oper net sales mln mln note net excludes discontinued operations nil gain dlrs quarter and losses dlrs dlrs year year net excludes dlr provision for loss disposal discontinued operations reuter 
earn	scientific measurement systems inc scms net qtr jan shr loss three cts loss seven cts net loss loss revs avg shrs mln half shr loss six cts loss cts net loss loss revs avg shrs mln reuter 
grain	member states cool cereal plans european community member states have generally given cool initial reaction proposals the european commission for cereal price changes and related measures the coming season diplomats said they said that meetings the special committee agriculture representatives most member states had said the changes taken together would have too harsh impact farmers incomes only britain and the netherlands had shown willingness accept the commission overall package they said well cuts over two pct common prices for most cereals the commission proposes limitation intervention the february march period and reduced monthly increments intervention prices farm ministers will have first discussion the proposals meeting beginning next monday reuter 
earn	public service colorado psr payout qtly div cts cts prior pay may one record april reuter 
earn	corrected manhattan national corp mlc oper shr loss cts loss cts oper net loss loss revs mln mln mths oper shr loss six cts loss cts oper net loss loss revs mln mln note item moved march company corrects its error show loss for current mths and qtr not profit reuter 
earn	ste francaise des petroles pbpf year net result breakeven profit loss breakeven operating loss mln francs mln net turnover billion francs billion sales petroleum products mln tonnes mln note company said statement results were affected the sharp fall crude oil prices net result included extraordinary recovery mln francs from provisions for currency fluctuations and mln francs depreciation fixed assets company subsidiary the british petroleum plc reuter 
acq	olivetti does not exclude stake sgs thomson ing olivetti spa oliv does not exclude the possibility investing semiconductor venture currently under discussion between italy stet societa finanziaria telefonica and france thomson csf tcsf olivetti spokesman said said that olivetti were approached the two partners involved and the financial conditions any proposal were considered interesting the company did not exclude the possibility investing the venture however olivetti had made decision any such investment and did not have its disposal information evaluate such move stet and thomson said last thursday they were negotiating accord involving their respective subsidiaries sgs microelettronica spa and thomson semiconducteurs the civil semiconductor field they said the accord once concluded would put for approval the french and italian authorities the olivetti spokesman was responding reuters query about italian press reports today saying that olivetti might participate the venture with two pct stake reuter 
earn	enserch corp ens sets quarterly qtly div cts cts prior pay june one record may reuter 
acq	nestle acquire nabisco canada businesses swiss based nestle nestle enterprises ltd unit said signed letter intent acquire nabisco brands ltd club melrose dickson and chase and sanborn businesses for undisclosed terms nestle said the final agreement subject required approvals would signed shortly the businesses involved the deal provide products hotels restaurants and other parts the food and beverage industry nabisco pct owned rjr nabisco inc rjr reuter 
trade	fed heller says wants see stronger japanese demand for american goods 
earn	metropolitan financial corp mfc votes payout qtly div cts cts prior qtr pay april record april reuter 
crude	goodyear unit start pipeline goodyear tire and rubber said the all american pipeline its celeron corp subsidiary will start line fill activities march begins operating the company said about five mln barrels oil will required pack the completed segment the line which runs miles from near santa barbara calif existing pipeline connections west texas construction has also staqrted this week mile inch diameter gathering line deliver barrels day oil from the san joaquin valley california the inch main underground line can transport over barrels daily reuter 
earn	microsize inc msiz qtr ends feb net shr profit one cent loss cts net profit loss revs six mths shr profit one cent loss four cts net profit loss revs reuter 
acq	paul place inc control changes paul place inc said chairman president and treasurer paul lambert has sold mln common shares other board members advisory board members alan marcove and gerald marcove and unaffiliated purchaser did not name terms were not disclosed the company said alan marvoce has been named replace lambert chairman and chief executive officer and michael fuller has been named president fuller was formerly president steak inc reuter 
acq	cyacq amends cyclops offer conditions says citicorp expands financing 
acq	gordon jewelry gor completes sale unit gordon jewelry corp said has completed the previously announced sale the assets its catalog showroom stores privately held carlisle capital corp for undisclosed amount cash and notes excess book value reuter 
earn	tajon ranch trc qtr net shr five cts nine cts net revs year shr ten cts cts net revs mln mln reuter 
earn	centerior energy corp sets quarterly qtly div cts cts prior pay may record april reuter 
earn	suffield financial corp sfcp raises quarterly qtly div five cts three cts prior pay april record march reuter 
acq	cyacq cuts conditions cyclops cyl bid cyacq corp investor group bidding for cyclops corp said amended its outstanding dlrs share tender offer for cyclops eliminate two conditions and modify third one the group which includes audio video affiliates inc and unit citicorp cci said also obtained additional financing commitments including increased commitment from citicorp capital investors ltd the conditions that were eliminated are cyacq request for non public information about cyclops that was previously provided dixons group plc and cyacq being satisified that the information provides adequate basis for cyclop published financial projections cyclops has agreed acquired dixons group which has dlrs share tender offer for cyclops outstanding dixons said earlier would allow the offer expire tonight the condition that was modified which required cyacq satisfied that break fees other obligations dixons were rescinded ineffective now says cyclops shall not have paid any such fees expenses dixons prior the consummation cyacq offer cyacq amended offer expires midnight new york time april three unless extended manufacturers hanover trust and cit group business credit inc increased its tender offer commitment mln dlrs from mln dlrs and its merger commitment mln dlrs from mln dlrs additionally the citicorp unit and audio video have increased their commitments cyacq mln dlrs the new total mln dlrs has been committed citicorp cyacq said estimates that needs mln dlrs buy all cyclops shares that may tendered and pay related fees and expenses said seeking arrange the balance about mln dlrs necessary complete the offer all previously announced conditions regarding the lending group led manufacturers hanover remain effect except that the loans are subject the concurrent receipt cyacq equity contributions and other financing not less than mln dlrs for the tender offer facility and mln dlrs for the merger facility cyacq also said the citicorp unit had received indications interest alternative offer had made from dixons cyclops alleghany corp which has agreed acquire cyclops industrial group from dixons under the alternative offer the citicorp unit with cyacq approval proposed acquire the industrial group from dixons reuter 
earn	sigma research onc sigr qtr dec loss shr loss cts profit one net loss profit revs six mths shr loss cts profit two cts net loss profit revs note year ago net includes gain from tax carryforwards dlrs quarter and dlrs year reuter 
earn	kodak cut polyester fiber operations eastman kodak said will reduce capacity and employment levels two polyester fiber operations its eastman chemicals division company spokesman said the company will take some writeoff connection with the action the first quarter and there will probably further carryover writeoff the second quarter the writeoffs will cover the costs plants and equipment involved well expenses connected with the staff cuts kodak said the division will discontinue production polyester partially oriented filament yarn poy its carolina eastman plant columbia and will idle mln pounds older polyester staple fiber production capacity mostly columbia the company said about jobs will affected columbia most which are now performed contract workers and about jobs its tennessee eastman plant kingsport tenn kodak said part the staff reduction will achieved through enhanced voluntary separation and retirement plan for employees carolina eastman eastman chemical products inc and other kodak units kingsport except holsten defense corp most the workforce reduction expected completed april kodak said depressed prices and poor financial performance have led the decision said about mln pounds poy production will shut down result its exit from the business all kodak poy production has been carolina eastman since last year the company said annual capacity for production kodel polyester staple fiber will reduced mln pounds from mln due lesser demand said will proceed with previous decision phase new mln pound staple fiber plant carolina eastman carolina eastman employs about and the kingsport units affected about the company spokesman later said the charges will insignificant and will have impact earnings estimates reuter 
grain	illinois futures dissolution vote set the shareholders illinois cooperative futures the futures trading arm many midwest farm cooperatives for more than years will vote wednesday its possible dissolution the directors the company called special meeting and recommended its dissolution last month citing falling volume and increasing costs sources close the organization told reuters the pullout growmark inc which holds more than pct the capital stock led the call for dissolution the possible demise the cooperative has set clearing houses scrambling for the trading business the regional and local cooperatives that comprise its membership ironically was growmark that time regional farm cooperative with major river terminal elevators that founded illinois cooperative futures december but growmark became affiliated last year with archer daniels midland decatur ill and markets its grain through joint subsidiary the two companies adm growmark with that relationship growmark longer needs trade futures through the cooperative said tom mulligan president the membership the company which mulligan termed cooperative cooperatives has declined from notable loss was agriindustries iowa which became affiliated with cargill inc illinois other members include such regional cooperatives indiana grain based indianapolis goldkist atlanta midstates toledo ohio farmland industries kansas city farmers commodities des moines and harvest states minneapolis some observors said the demise illinois cooperative futures serious blow the cooperative system instead banding together the individual cooperatives are forced their own ways said the floor manager one cash house the chicago board trade such move would destroy the cohesiveness that gives farm cooperatives advantage the market time that few major commercial companies are growing dominant said don hanes vice president for communications with the national council farm cooperatives said cooperatives exist today down from five years ago the period gone through the past five years has been quite crunch said there been lot consolidation the marketing ops one problem said the ops sell the grain the major commercials for export rather than exporting themselves losing potential profits but exporting grain requires heavy investments and the multi million dollar loss posted six years ago farmers export set export grains served make folks gun shy hanes said mulligan said believes the dissolution approved result change the futures industry rather than change agricultural economics grain dealer one member said the futures arm was convenience something that saved little bit money its dissolution will force change our way doing business sorry see the the wayside said but there are lot people out there business with there are plenty capable firms steven cavanaugh vice president for grain marketing with indiana grain said would prefer trade futures through chicago based cooperative terms clearing our business unit opposed individuals there would economic savings said but added the times change and with changing times come different opinions what businesses ought around cavanaugh said the possible demise the futures arm had nothing with its profitability would guarantee you that this company not trouble sound healthy organization the year ended february the illinois cooperative reported income mln dlrs and members equity net worth mln dlrs the annual report for the most recent year has not been filed under the cooperative system income from operations returned patronage refunds the members income and refunds the past five years have been declining the year ended february the reported income mln dlrs and patronage refunds mln dlrs patronage refunds the year ended february totalled mln dlrs you dealing with substantially lower volume mulligan said lower volume translates into higher costs according the company annual report growmark owns pct the preferred shares and four pct the common shares illinois cooperative futures mulligan declined speculate how much the capital growmark entitled said could not determine the figure unless the shareholders decide favor dissolution equity distributed according each member trading volume and result changes from year year however mulligan said the company could continue meet minimum capital requirements trade futures even growmark pulled out reuter 
acq	conrac cax soars following mark bid heavy buying speculators boosted conrac corp higher than dlr per share cash tender offer announced mark industries inc case chemlawn euphoria said one arbitrageur referring recent hostile tender that began dlrs per share and ended when chemlawn corp chem found white knight willing bid dlrs for conrac the arbitrageur said dlrs per share seemed like appropriate price another said too early project the outcome the market speaking for itself and saying the dlr offer inadequate the second arbitrageur said but added was hard make case for conrac being worth much more than the dlrs where the shares traded today noted the stock recently sold the high teens and there could downward risk dlrs more conrac able thwart mark conrac urged shareholders take action while its board studies the offer and confers with advisers conrac said would make recommendation april third arbitrageur noted mark had been involved several takeovers previously and has proven itself determined bidder they not beginners said another said conrac might have trouble tried find another buyer hodge podge non related businesses said there only small universe people who would want own the company presently structured conrac involved video displays computer software aircraft instruments telephone answering machines welding equipment and other products telling retail clients sell and leave the rest for those who can take the risk said rudolph hokanson analyst milwaukee called the dlr offer mark fair value but the low side don think management was looking for buyer any way before this offer said hokanson said conrac has conservative finances and has developed reputation for quality products that serve niche markets said management has done good job turning around the telephone answering machine business reuter 
acq	laser photonics lazr sells common shares laser photonics inc said sold shares its common stock investors for one mln dlrs under previously announced agreement connection with the investment the company said will restructure its board there will eight members three whom were designated the new investors the company said the group investors include affiliates radix organization inc the company said richard gluch resigned from the board joining the board were leonard lichter pierre schoenheimer and roger kirk the investors designates the company added other members the board are chairman don friedkin president and chief executive officer mark fukuhara and jay watnick ira goldstein thurman sasser and michael clinger reuter 
earn	crowley milner and com qtr jan net shr dlrs dlrs net sales mln mln year shr dlrs dlrs net sales mln mln qtly div cts cts previously pay april record april reuter 
acq	conrac cax urges action bid conrac corp said asking shareholders take action the dlr per share tender offer for all its shares launched this morning mark industries inc the company said its board will study the offer with financial and legal advisors and make recommendation shareholders april reuter 
interest	fed buys mln dlrs bills for customer the federal reserve purchased about mln dlrs treasury bills for customer spokeswoman said she said that the fed bought bills maturing june and july and august and september for regular delivery tomorrow dealers said that federal funds were trading pct when the fed announced the operation reuter 
earn	penn traffic pnf qtr jan net shr cts cts net revs mln mln year shr dlr dlr net revs mln mln note first three quarters have been restated reflect adoption qtr new pension accounting procedure which increased net income first three qtrs dlrs five cts per share procedure increased fourth qtr income dlrs two cts per share reuter 
acq	financial corp fin not holding buyout talks financial corp america said not holding discussions with anyone regarding buyout the company but spokeswoman pointed out that financial corp has said publicly for nearly two years that the company view merger would one method increasing the company capital opportunity arises for strengthen our capital position quickly would very open the spokeswoman said financial corp would need over one billion dlrs bring its regulatory net worth federal savings and loan insurance corp requirements the spokeswoman said addition she said that the federal home loan bank board letter dated january stated that through march will continue support the company efforts restructure its balance sheet maintain profitable operations and augment net worth reuter 
earn	american network inc anwi dec year net shr profit cts loss dlrs net profit loss revs mln mln avg shrs note current year net includes nine mln dlr net gain from settlement litigation reuter 
earn	signet banking corp regular dividend qtly div cts cts prior payable april record april three reuter 
earn	mott super markets inc msm qtr jan shr loss cts loss dlrs net loss loss mln revs mln mln year shr loss cts loss dlr net loss mln loss mln revs mln mnln reuter 
earn	alexander alx qtr feb shr cts cts net mln mln six months shr cts cts net mln mln note six months includes dlr charge six months includes net gain reuter 
earn	northeast utilities year shr dlrs dlr net mln mln revs billion billion reuter 
acq	mobex completes grant industries gtx tender mobex corp private building product concern said late yesterday had accepted about mln shares pct grant industries inc under tender offer the dlrs share cash offer expired est yesterday mobex said its mobex acquisition corp unit accepted shares grant common about pct the shares presently outstanding the tender price reuter 
earn	leucadia national corp luk qtr net shr dlrs cts shr diluted dlrs cts net mln avg shrs mln mln year shr dlrs dlrs shr diluted dlrs dlrs net mln mln avg shrs mln mln note earnings per share reflect the two for one split effective january per share amounts are calculated after preferred stock dividends loss continuing operations for the qtr includes gains sale investments enron corp mln dlrs and associated companies less writedowns investments national intergroup inc mln and brae corp mln reuter 
acq	telecom tele completes sale telecom plus international inc said completed the sale its pct interest tel plus communications inc siemens information systems inc for about mln dlrs telecom received mln dlrs closing with the balance paid installments siemen said will dispute various matters the financial statement issues and other matters said reuter 
earn	integrated resources inc ire qtr net oper primary shr dlr dlrs oper diluted shr cts dlrs oper net mln mln revs mln mln avg shrs primary avg shrs diluted mln mln year oper shr dlr dlrs oper net mln mln revs mln mln avg shrs note oper net excludes mln dlrs for discontinued operations qtr excludes loss dlrs and dlrs respectively for discontinued operations oper net excludes mln dlr dlr per shr loss from early extinquishment notes and oper per share amounts are reported after paying mln dlrs and mln dlrs respectively for preferred stock dividends and qtr per share amounts are reported after paying dlrs and dlrs respectively for preferred stock dividends discontinued operations are restated reuter 
earn	wean united inc wid qtr shr loss one dlr profit seven cts net loss mln profit revs mln mln year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note earnings reflect preferred dividend requirements year includes one time gain mln dlrs reuter 
trade	house panel eases soviet export controls the house foreign affairs committee voted ease restrictions exports that are now kept from shipment soviet bloc countries but are longer threat national security the democratic controlled committee said the administration export control policies which restrict shipment thousands products contributed last year record billion dlr trade deficit the committee said the legislation will cut government red tape and make easier for companies compete with foreign producers since many the goods are readily available from other countries rep don bonker chairman the international economic policy subcommittee said the unnecessary restrictions had cost the billion dlrs exports year this congress number one opportunity attack the trade deficit positive way exporting more the washington democrat said the legislation would order the commerce department lift controls pct goods the restricted export list over the next three years unless other countries agree comparable controls most these are the least sophisticated type technology such medical instruments would also give the commerce department primary authority decide which exports will permitted and limit the defense department advisory role reviewing requests export highly sensitive technology reuter 
money-fx	baldrige says changes needed exchange rates currencies pegged dollar 
earn	charter qtr net profit mln dlrs loss mln dlrs 
earn	alexander alx qtr ends feb net shr cts cts shr diluted cts cts net revs mln mln six mths shr cts cts shr diluted cts cts net revs mln mln note includes change accounting for investment tax credit cts per share six mths prior first qtr includes non recurring charge for company abandoning its plan convert limited partnership reuter 
acq	stanadyne stna united technologies end talks stanadyne inc said terminated discussions about its proposed purchase united technologies corp diesel systems utx unit the reason was not disclosed reuter 
interest	citicorp cci rules out credit card price war american express axp recent launch new optima credit card with relatively low interest rates and fees will increase competition with bank credit card issuers but will not lead pricing war senior citicorp offical said over the next two three years very interesting marketing battle will fought competition will not price but product features pei yuan chia head the card products group told banking analysts meeting citicorp the leading bank credit card issuer with some mln accounts and pct market share chia said that citicorp would focus its credit card marketing efforts acceptance noting that visa and mastercard currently enjoy two one advantage over american express terms worldwide acceptance also doubted the popularity american express plan link interest charges the new optima card the bank prime lending rate the consumer likes have fixed rate instrument said richard braddock head the whole individual banking division added that when there increased competition not the big people who get crunched but the small ones reuter 
earn	new process noz sets qtly payout new process said declared quarterly dividend cts the regular dividend pays during the first three quarters the year the dividend payable may shareholders record april last year new process paid annual dividend dlrs paying cts share each the first three quarters and fourth quarter dividend cts reuter 
earn	petroleum equipment tools ptco qtr shr loss cts loss cts net loss mln loss mln revs mln mln year shr loss dlrs loss cts net loss mln loss mln revs mln mln reuter 
acq	sundor group buys dwg dwg unit assets sundor group inc said purchased dwg corp texun inc line regional juice products the purchase terms were not disclosed the company said reuter 
earn	quick and reilly group bqr qtr feb shr cts cts net mln mln revs mln mln year shr dlrs dlr net mln mln revs mln mln reuter 
acq	hayes albion hay completes going private deal hayes albion corp said its shareholders approved plan merge with and become wholly onwed subsidiary privately held harvard industries inc louis based harvard industries manufacturer and distributor automobile supplies held pct hayes following completion dlrs share cash tender offer december under the merger agreement remaining shareholders hayes jackson mich based maker auto supplies will receive dlrs cash for their shares trading hayes common will cease the close business today the company said reuter 
earn	charter qchr qtr oper loss oper shr loss one loss four cts oper net loss profit revs mln mln avg shrs mln mln year oper shr profit cts profit cts oper profit profit mln revs billion billion avg shrs mln mln note qtr and year oper net excludes gain mln dlrs and mln dlrs cts per share respectively for discontinued operations qtr and year oper net excludes gain mln dlrs dlr per share and mln dlrs dlrs per share respectively mainly for settlement dioxin related claims reorganization proceedings qtr and year oper net excludes loss mln dlrs dlrs per share and loss mln dlrs dlrs per share respectively for discontinued operations qtr and year oper net excludes gain mln dlrs dlr per share and mln dlrs dlrs per share for settlement claims and utilization tax loss carryforward year oper net also excludes loss seven mln dlrs for change inventory evaluation method reuter 
earn	numerex corp nmrx qtr jan loss shr loss seven cts profit five cts net loss profit sales six mths shr loss five cts profit nine cts net loss profit sales reuter 
acq	eastman kodak sell holdings icn pharmaceuticals and viratek inc 
interest	treasury balances fed rose march treasury balances the federal reserve rose march billion dlrs from billion dlrs the previous business day the treasury said its latest budget statement balances tax and loan note accounts fell billion dlrs from billion dlrs the same respective days the treasury operating cash balance totaled billion dlrs march compared with billion dlrs march reuter 
trade	unionist urges retaliation against japan william bywater president the international union electronic workers called president reagan retaliate against japan for unfair practices semiconductor trade said statement crash program was needed the semiconductor industry prevent the united states from becoming one the world industrial lightweights bywater remarks came the white house economic policy council prepared for thursday meeting decide what sanctions any should taken against japan for alleged violations japanese semiconductors agreement the pact agreed last july called for tokyo end selling semiconductors below cost and open its home market goods return washington agreed forego antidumping duties japanese semiconductors but officials have said that while japan has stopped dumping the market has not ended third country dumping nor has opened its market semiconductors japan yesterday effort ward off action ordered cutback semiconductors production way force prices and end the dumping bywater his statement said backed defense science board task force proposal set consortium develop new electronic products and manufacturing processes and make the industory more competitive but added the industry could not wait for legislation pass and that action was required now help the depressed electronic industry bywater said urge the reagan administration take full and severe action immediately against japan invoking the retaliatory steps that are permitted under law and gatt general agreement tariffs and trade reuter 
acq	midivest acquires assets business aviation midivest inc said acquired all the assets business aviation inc sioux falls for undisclosed amount stock midivest said expects sell the renovated beechcraft planes next year said management will also lease these airborne intensive care units hospitals and government subdivisions through metropolitan leasing wholly owned subsidiary midivest reuter 
acq	eastman kodak sell holdings eastman kodak said plans sell its pct holding icn pharmaceuticals icn and part its nine pct holdings viratek vira said the purpose the investments had been lay the groundwork for the creation its nucleic acid research institute since that has been achieved there longer any reason maintain the equity positions kodak said kodak holds sahres icn currently trading about and viratek trading reuter 
acq	firm reduces sceptre resources srl holdings montreal based noverco inc told the securities and exchange commission reduced its stake sceptre resources ltd shares pct the total outstanding noverco said sold off shares reduce the investment noverco sceptre additional common shares sceptre may sold purchased noverco depending upon market conditions noverco said reuter 
earn	acklands ltd qtr feb net shr three cts cts net revs mln mln avg shrs reuter 
earn	bull and bear group bnbga cuts fund payouts bull and bear group said lowered its monthly dividends three its funds said lowered its tax free income fund bltfx cts from cts its government guaranteed securities fund bbusx cts from cts and its high yield fund bulhx cts from cts all dividends are payable march shareholders record march the company said reuter 
crude	caltex raise bahrain oil product prices caltex petroleum corp said will raise posted prices for naphtha and several grades residual fuel bahrain effective march caltex joint venture chevron corp chv and texaco inc said its naphtha posting four cts gallon cts said raising its marine diesel oil posting cts barrel dlrs barrel light medium and heavy fuel oil postings are dlrs barrel the company said this will bring the light fuel oil price dlrs medium dlrs and heavy dlrs the company said reuter 
acq	nashua nsh purchase private disc maker nashua corp said signed letter intent purchase lin data corp private manufacturer high capacity rigid discs for storage computer data under the terms the letter nashua said will acquire all classes lin stock for mln dlrs addition said will loan lin dlrs support its operations the closing the sale set for the second quarter the company said reuter 
earn	altron inc alrn qtr jan shr loss cts loss five cts net loss mln loss revs mln mln year shr loss dlrs profit cts net loss mln profit mln revs mln mln note net loss includes loss mln dlrs for nonrecurring reserve for closing costs facility writeoffs and sales real estate reuter 
earn	vermont financial services vfsc sets payout vermont financial services corp said its board approved regular cts per share cash dividend payable april shareholders record march reuter 
acq	resorts international gets buyout proposal from ksz inc 
earn	great atlantic and pacific tea inc gap div qtly div cts cts prior payable may one record april reuter 
acq	gartner group gart acquires comtec program gartner group inc said acquired sole ownership the comtec market research program gartner said its wholly owned subsidiary purchased the interests its former partners for aggregate price plus percentage net sales proceeds future sales certain products prior the acquisition gartner group owned one third the comtec partnership said reuter 
acq	resorts int receives takeover offer resorts international inc said received proposal from ksz inc under which holders resorts class stock would receive dlrs share cash and one share common stock new company formed through the takeover under the offer resorts said holders its class shares would receive dlrs share cash and three shares common stock the new company resorts said the offer from ksz calls for merger resorts with acquisition inc newly formed delaware corporation resorts said that prior the merger acquisition would capitalized with about mln dlrs debt and about mln dlrs equity said mln dlrs the equity would the form special preferred stock the ksz offer resorts said indicates that ksz has commitment from davies cos buy all the special preferred stock resorts said the offer will expire est march said asked its investment advisor bear stearns and advise its board the offer earlier this month the estate james crosby and certian members his family agreed sell their class shares new york real estate tycoon donald trump for dlrs share the estate and family members hold pct the class shares outstanding trump also agreed pay dlrs share for the remaining class shares outstanding resorts also has about shares outstanding class stock these shares carry one one hundredth the voting power the class shares trump offer beat out rival bid dlrs share made pratt hotel corp prat resorts said that under the proposal made ksz existing class and class shareholders would control about pct the outstanding common the new company formed acquire resorts resorts said the new company upon completion the merger would hold the mln dlrs debt and that the special preferred stock would immediately converted into exchangeable participating preferred the new company this preferred resorts said would pay dividend based the net cash flows from the new company paradise island operations resorts spokesman said the ksz offer was made two page letter and that resorts could not comment because did not contain enough information resorts has asked bear sterns obtain complete data said the spokesman said resorts not familiar with ksz but that believes the company controlled marvin davis the denver oilman calls davis were referred lee solters who handles public relations for davis solters said travelling was not immediately available for comment donald trump was also unavailable for comment was spokesman for the crosby estate reuter 
earn	citicorp cci sees doubling retail bank net citicorp expects net income its individual banking sector top one billion dlrs compared with mln dlrs said richard braddock head citicorp individual banking division can double our earnings over the next five seven years told banking analysts meeting adding that this forecast may the conservative side said that bank card operations and the new york branch system would continue turn hefty profits but also picked out other developing areas such mortgage and international consumer major potential earners braddock and his sector heads made the following more specific predictions cost funds and net credit loss levels the bankcard unit will taper off coming years from relatively inflated levels customer net revenue the mortgage banking area will rise mln dlrs from mln the international consumer business will show pct compound annual growth earnings between and private banking earnings will hit mln dlrs and top mln dlrs reuter 
earn	wdfc qtr feb net shr cts cts net sales mln mln six mths shr cts cts net sales mln mln reuter 
trade	brazil computer market remain closed minister brazilian science and technology minister renato archer said brazil will keep its computer market closed foreign goods order give its own infant industry time develop every country establishes laws protect its interests the united states closed their borders certain stage some foreign goods and therefore protected its industrial development now time for brazil likewise archer said the opening national software conference after several meetings brazil and the have made major progress their computer row which they have been trying resolve for the past months the reagan administration has objected brazil protecting its computer industry from imports reuter 
earn	northern indiana public svc again omits div northern indiana public service company said again omitted its quarterly common stock dividend which would have been payable may nipsco said has not paid qtly dividend since december following adverse decision the indiana supreme court denying amortization about mln dlrs nipsco invested its bailly project reuter 
earn	borman inc brf declares qtly dividend qtly div five cts five cts prior pay june record may reuter 
acq	kirschner kmdc completes purchase kirschner medical corp said completed the acquisition minnesota mining and manufacturing mmm orthopedic metal implant line division the acquisition price mln dlrs cash six mln dlr three year note and shares kirschner common stock the division had sales mln dlrs reuter 
acq	maryland national mdnt sees new name maryland national corp the parent maryland national bank which earlier this month merged with american security bank said its shareholders will vote new name for the regional bank holding company its april annual meeting said mnc financial inc the proposed new name for the parent company the banks merged march and have combined assets about billion dlrs maryland said the new name only will used for the parent and does not plan change the names maryland national bank american security bank non bank affiliates reuter 
crude	venezuela annouce partner for coal venture petroleos venezuela will announce within two weeks the name foreign consortium has chosen help exploit the coal deposits guasare western zulia state pdvsa president juan chacin guzman said chacin told reporters the foreign partner will provide capital well technical and marketing expertise the carbozulia project which the state oil company will manage pdvsa officials said that among those who bid for the partnership consortium between agip carbone subsidiary italy ente nazionale idrocarburi eni and atlantic richfield arc the united states minister energy and mines arturo hernandez grisanti said discussions are currently taking place finalize the terms the contract with the foreign partner pdvsa vice president pablo reimpell said last week the first shipment coal from the carbozulia project should made during the final quarter and would measure between metric tons plans call for production eventually reach annually reimpell said the original investment the project will approximately billion bolivars reuter 
earn	gottschalks inc got qtr net shr cts cts net sales mln mln avg shrs year shr cts cts net sales mln mln avg shrs reuter 
acq	borg warner says discussed possible takeover with irwin jacobs 
acq	cyclops corp says cyacq amended offer restates original conditions 
earn	california microwave cmic takes qtr charge california microwave inc said will take non recurring charges mln dlrs pre tax earnings the third quarter ended march the company said earnings from operations the second half ending june excluding the charges are expected the break even range the second half net earnings were dlrs cts per share the company said the charges relate its telecommunications products area and three other areas california microwave previously estimated the write downs the six eight mln dlr range said will add that reserve for investment losses argo communications corp also included the write down are charges against its advances arizona based communications electronics firm the company has option acquire said addition accruals are being made for costs associated with the company reduction its sunnyvale work force california microwave said the write downs should have nominal cash impact the company already has paid for the assets being written down reuter 
earn	crs sirrine plans major restructuring write off mln dlrs 
earn	ahmanson and ahm qtly dividend shr cts cts prior qtr pay june one record may reuter 
acq	borg warner bor tells talks with jacobs borg warner corp said has had discussions with irwin jacobs his interest the possibility minstar inc mnst jacobs controlled company being given access certain non public information about borg warner late february investor group headed jacobs offered dlrs share billion dlrs take over borg warner borg warner said advised jacobs that before its board would give minstar access company records minstar would have provide satisfactory evidence that sufficient financing was committed carry out whatever transaction was proposed borg warner spokesperson said the discussions with jacobs and other minstar officials focused terms and conditions under which the company would consider granting minstar access the information was seeking the borg warner spokesperson said the company has not been able reach agreement with minstar and borg warner has not granted minstar access any records there can assurance that there will further discussions with jacobs that any agreement will reached the company added reuter 
trade	canada vows fight potash action external affairs minister joe clark today vowed everything possible fight the action against canadian potash exports but also warned against raising the alarm too early the dispute the latest flashpoint canadian trade relations the international trade commission ruled unanimously monday that canadian potash shipments valued million dlrs last year were injuring the industry certainly intend everything can insure that canadian interests are well protected clark told the house commons the daily question period but said the opposition parties should careful not raise false alarms too early the case now goes before the commerce department trade division determine duty should imposed potash producers from new mexico claiming unfair government subsidies are seeking pct tariff canada shipments canada the world largest potash producer exported mln metric tonnes potash last year with nearly third going the most the potash used the production fertilizer comes from provincially owned mines saskatchewan the commons liberal member lloyd axworthy branded the ruling just another trade harrassment from the and criticized clark assurances the country interests would protected received exactly the same kind assurances the softwood lumber case that was totally fumbled and bumbled axworthy said canada progressive conservative government agreed impose pct duty its softwood lumber exports earlier this year end long and bitter bilateral trade dispute with the axworthy urged the government present canada case world trade authorities under the general agreement tariffs and trade but clark maintained the potash dispute was another example why canada needs find new way settle bilateral irritants the free trade negotiations under way with the what are seeking put place better system clark said meanwhile saskatchewan trade minister bob andrew expressed confidence canada would win its case claiming the problem stems from low international commodity prices and not government subsidies the reality the problem and the injury caused worldwide said caused downturn the commodity price for fertilizer whether potash fertilizer nitrogen fertilizer whatever reuter 
acq	industries rbi completes store sales industries inc said completed the sale its and sloane division laurence crink and group investors the definitive agreement provides for closing april the division consists four and sloane furniture store los angeles and orange counties industries also said recently secured five year pct secured mln dlr loan its irvine property from major institution proceeds will used retire existing bank debt for working capital and retire portion its outstanding pct debentures reuter 
acq	gencorp takeover group cancels hearing the investor group seeking acquire gencorp inc said agreed cancel court hearing after gencorp withdrew three proposals that approved would have made more costly and difficult acquire the akron ohio based company earlier today gencorp said will not ask shareholders approve increase the number its outstanding shares the election staggered board directors and the elimination cumulative voting however the group said will continue try block gencorp poison pill provision the group partnership afg industries inc afg and wagner and brown was court march block gencorp for having the three proposals voted shareholders its annual meeting gencorp said withdrew the proposals that could focus its attention the takeover offer the takeover partnership said has asked meet with gencorp negotiate repeal the company poison pill plan reuter 
acq	gencorp fixes rights separation date gencorp inc said that because continuing evaluate general acquisition inc tender offer has fixed april subject further extension the date the rights purchase preferred shares will trade separately from the common stock result the tender offer this extension the expiration date conditioned person acquiring beneficial ownership pct more gencorp common stock prior april said gencorp said could distribute the rights certificates shareholders days after the march acquisition offer was made however rather than leaving the expiration date range the board decided set april the day will distribute the preferred share purchase rights reuter 
acq	american international aig sells african unit american international group inc said sold its south african subsidiary american international insurance ltd johannesburg insurance holdings ltd holding company owned consortium shareholders led rand merchant bank terms were not disclosed and company officials were unavailable for comment with the conclusion the sale american international has entirely divested itself its holdings south africa reuter 
earn	oxford industries inc oxm qtr feb shr cts cts net mln mln revs mln mln nine months shr cts cts net mln mln revs mln mln reuter 
earn	digigraphic systems corp qtr oper loss oper shr loss one loss seven cts oper net loss loss revs avg shrs year oper shr loss cts loss dlrs oper net loss loss revs avg shrs note earnings exclude losses from discontinued operations dlrs three cts share dlrs two cts share the quarter and losses dlrs cts share dlrs seven cts share for the year year earnings exclude gain from early extinguishment debt dlrs dlrs share reuter 
acq	bayou byou definitie merger agreement bayou resources inc said reached definite agreement acquired patrick petroleum through stock and cash transaction valued six dlrs per bayou share bayou also reported net loss three cts dlrs for the fourth quarter compared with net income dlrs one cts year revenues fell dlrs from dlrs year ago for the year bayou reported net loss cts dlrs compared net income cts dlrs revenues fell mln dlrs from mln dlrs reuter 
earn	computer identics corp cidn qtr shr loss cts loss cts net loss mln loss revs mln mln year shr loss cts loss cts net loss mln loss revs mln mln note includes restructuring charges mln dlrs and loss foreign affiliates mln dlrs includes loss from foreign affiliates dlrs reuter 
acq	fleet acquire assets mark unit fleet aerospace corp said agreed principle acquire the assets and operations the engineered magnetics division gulton industries inc unit mark industries inc terms were undisclosed los angeles based engineered magnetics designs and produces custom power conversion systems mainly for use the defense and aerospace industries its revenues for the year ended february totaled about mln canadian dlrs reuter 
earn	mikron instrument mikr qtr jan shr three cts four cts net revs reuter 
acq	group psg usair move deadline group inc said and usair group agreed move the completion date usair acquisition pacific southwest airlines april from september originally the acquisition does not take place april either party may terminate the agreement the company said the deadline has been moved because the department transportation and group shareholders have already approved the transaction the company said teamsters union agreement certain labor contract conditions remains resolved under the pact reuter 
acq	mergers public offers seen among car dealers automobile dealerships have become large multi store operations and the largest sell more than billion dlrs year worth vehicles year around the auto industry there talk mergers and buyouts among dealerships and there are rumors that the largest are considering offering shares the public analysts say retail car sales are point transition there not much that off the table terms creative thinking about ways sell cars says david cole analyst with the university michigan transportation research institute the retail car market much more freeform now than was the year things began change says detroit analyst arvid jauppi arvid jauppi and associates thirty years ago the situation was different dealerships sold one kind car chevy ford studebaker the average dealer had employees and sold dlrs worth vehicles according the national automobile dealers association that year tiny car from overseas germany volkswagen beatle began gain popularity the bug caused rebellion among dealers who demanded greater freedom from restrictions placed them the major american automakers says jauppi one the most visible changes retail car sales has been the size dealerships auto analysts say last year the average dealership had mln dlrs sales fold increase from and employed workers had one these guys tell makes six seven mln dlrs year and didn know what with all his money says cole there whole lot more rich guys who sell cars than that make cars says with the increase size large dealers have been buying other dealerships and auto analysts see few signs the trend will let donald keithley vice president dealer services for power california based market research firm says that people will own dealerships compared principal owners today many dealers are experimenting with owning several franchises some which might compete against each other used chevrolet dealer was chevrolet dealer now chevrolet dealer might handle several lines jauppi says dealers get bigger industry officials are talking about the possibility that some them might become publicly owned open international operations offering shares the public option large dealers are obviously thinking very seriously says cole although some say the franchise system might get the way public offering jauppi says there are few obstacles trading car dealer shares dealers are large enough now public the only thing the manufacturer cares about that the dealer sells those cars could happen any time jauppi says you look the whole merger mania and look the scale some these dealers going very hard resist taking them public said another analyst and jauppi says that dealerships can expected become international going have international dealers dealer networks that are worldwide says dealers will attracted particularly europe where the market will expand faster than the says not totally off the wall says cole reuter 
earn	comprehensive care corp cmph qtr net qtr ended feb shr cts cts net revs mln mln nine mths shr cts cts net mln revs mln mln reuter 
earn	vestar inc vstr year loss shr loss cts loss dlrs net loss loss revs note qtr data not given reuter 
earn	sterling bancorp year net shr dlrs cts net assets mln mln note qtr data not given reuter 
earn	first new hampshire banks inc div qtly div cts cts prior payable may one record april reuter 
earn	house fabrics quarterly dividend qtly div cts cts pay july record june reuter 
earn	weeks petroleum ltd wpma mel calendar shr cents final div nil same making nil same pre tax profit mln dlrs mln net mln mln turnover mln mln other income mln mln shrs mln same note net after tax mln mln interest mln mln depreciation mln mln and minorities nil same other income mln from sale investments mln interest mln mln and dividends mln nil pct owned bell resources ltd note all figures dollars the company registered bermuda reuter 
money-fx	current exchange rates almost within levels agreed major nations sumita 
money-fx	sumita says major nations cooperated stabilise currencies 
money-fx	exchange rates almost within levels sumita bank japan governor satoshi sumita said that current exchange rates are almost within the levels agreed six major nations last month paris asked whether dollar yen rate reflected economic fundamentals said current rates almost reflect fundamentals sumita told reporters major nations have cooperated bring about currency stability line with the paris agreement which stipulated that they would closely cooperate that end repeated the central bank will intervene necessary adding did not think dollar free fall was likely but sumita said could not say exactly what currency levels would considered line with underlying economic fundamentals paris february britain canada france japan the and west germany agreed cooperate hold currencies around their then current levels sumita said could not find any specific reasons behind the fall the dollar record low against the yen yesterday but said the market rushed sell dollars nervously reacted statements abroad and developments surrounding trade tensions treasury secretary james baker said over the weekend that the paris pact did not encompass fixed tragets for the dollar trade representative clayton yeutter called japan relations certain key trade issues very strained the market reacted nervously because the dollar has been moving narrowly against the yen since mid january sumita said added does not expect the yen dollar exchange rate remain unstable because the market concerned about sharp rise the yen the bank japan will keep close watch exchange rates line with the paris accord added reuter 
trade	trade surplus mln dlrs february preliminary trade figures for february show excess exports over imports mln dlrs statistics department statement said this compares with mln dlr deficit revised from mln january and mln dlr deficit february exports rose mln dlrs from mln revised from january and february imports dropped estimated mln dlrs from revised from january and february the deficit for the eight months the end february was mln dlrs against billion dlrs the same period year ago reuter 
interest	sumita says bank japan has intention lowering its discount rate 
earn	jardine matheson profits seen sharply strong performance its retail businesses and affiliates will enable jardine matheson holdings ltd jard hkg report friday big leap net profit stock analysts said they told reuters they expect the firm show earnings between mln and mln dlrs last year against mln the analysts also said they expect jardine matheson pay total dividend cents share against cents share james capel far east ltd estimates jardine matheson profits mln dlrs and attributes most the income retail sales analysts said the group eleven retail stores and its franchises among them canon cameras christian dior luxury goods and mercedes benz cars produced strong cash flow alan hargreaves hoare govett asia ltd also put jardine matheson net profits mln dlrs and said estimates pre tax earnings from retail operations about mln dlrs against mln but hargreaves said jardine matheson earnings from its pct stake hong kong land ltd hkld hkg will fall about mln dlrs from mln dlrs the reduced contribution reflects the spin off from hong kong land dairy farm international ltd last september jardine gained direct holding pct dairy farm result the spin off analysts said jardine will book revenues from its dairy farm stake for the final months the year part its retail business which will increase its overall retail income figures analysts said jardine matheson will also enjoy sharply increased revenues from financial services mainly its pct share jardine fleming holdings ltd jardine fleming yesterday reported record profits for mln dlrs against mln analysts said jardine matheson made net interest payments about mln dlrs last year slightly below the mln dlrs while the company term debt remained about the level billion dlrs but jardine was also subject increased taxes mln dlrs last year against mln they said jardine matheson undergoing series reorganisations that will effect turn into holding company for its diverse interests previously announced plan sell its stakes both hong kong land and dairy farm newly created jardine strategic holdings ltd which has pct interest company statement issued last month said the firm will use the proceeds repay all debt leaving with additional mln dlrs cash hand though jardine matheson will deprived direct stake the high yield hong kong land and dairy farm units likely develop its own business analysts said the future the stock will depend the firm ability creatively structure some new acquisitions said hargreaves hoare govett noted the firm has suggested financial services key sector and said may add some insurance firms its existing business reuter 
earn	china first joint venture bank reports profit china first joint venture bank xiamen international bank xib reported group net profit about mln hong kong dlrs the bank first full year operation general manager liu shuxun declined give profit forecast saying targets were under study assistant general manager wang hongshan said the group outstanding loans end totalled mln hong kong dlrs from mln end deposits and interbank borrowings rose mln dlrs from mln told reuters liu said most the group profit came from the parent company rather than its two wholly owned subsidiaries xiamen international finance ltd hong kong and luso international bank ltd macao the joint venture bank began operating september but did not officially open until march liu said the share the joint venture the foreign partner hong kong listed panin holdings ltd had been cut last year pct from pct this was done because foreign banks felt the xib reputation would improved the three chinese partners collectively held majority stake said liu said news reports about problems concerning panin were unfounded but did not elaborate panin holdings reported loss mln hong kong dlrs after net profit dlrs the chinese partners are industrial and commercial bank china fujian branch whose share rose pct from fujian investment and enterprise corporation pct and xiamen construction and development corporation pct one foreign banker said xiamen international bank faced the same problems foreign bank branches trying compete unequal terms with state owned banks the foreign banking market xiamen thin and almost saturated added officials the joint venture bank said they benefitted from contacts made through its three chinese partners but the foreign banker who asked not named said faced internal competition from the industrial and commercial bank apart from xiamen international bank and the international agricultural development bank planned the world bank and the state owned agricultural bank china xiamen has eight foreign bank branches representative offices mostly hong kong overseas chinese banks reuter 
acq	nissan affiliate acquire autoparts maker kokusan kinzoku kogyo ltd kkk japanese autoparts maker owned pct nissan motor ltd nsan has exchanged memorandum acquire over pct autoparts firm master cast avoid losses sales caused the yen rise against the dollar kkk spokesman said the final agreement should signed this year when kkk forms the new company alfa technology said the new firm should supply all the major car makers including ford motor general motor corp and chrysler corp said reuter 
acq	brussels ferruzzi says will pay mln dlrs cpc international for european mills 
crude	madagascar extends amoco oil exploration agreement madagascar extended its oil exploration agreement with the firm amoco corp for months allow for further studies the morondava basin the southwest coast government statement said said the existing five year agreement due expire this july was extended until the end allow for additional geological and geophysical studies amoco has far laid seismic lines and sunk five exploration wells the morondava basin may drill further three wells before the end the extended exploration period the statement said madagascar has signed oil exploration agreements with four foreign oil companies since but despite promising indications large reserves commercial production plans have yet been announced the foreign firms amoco occidental petroleum corp oxy mobil corp mob and unit ente nazionale idrocarburi are working partnership with the national military office for strategic industries omnis roland ratsimandresy the director general omnis said ceremenony sign the extension the amoco agreement that his department would intensify oil exploration with its existing partners and would soon offer new round exploration licences reuter 
acq	ferruzzi deal with cpc worth mln dlrs the ferruzzi group holding company agricola finanziara spa will pay mln dlrs for the european corn wet milling business cpc international inc under the agreement reached principle between the two companies statement ferruzzi released its brussels office said when cpc announced the agreement yesterday new york said only that the price would excess mln dlrs ferruzzi said the deal subject agreement several clauses the contract and needs government authorisations said the deal would involve starch factories employing about people eight european community countries plus facilities and commercial operations other states the factories have capacity produce the equivalent mln tonnes starch starch and products year about one third production from about mln tonnes cereals ferruzzi said the acquisition these assets would extend its presence the european agro industrial industry both geographically and terms products said already the principal producer sugar and soya oil and cake and the major cereal trader noted that output isoglucose subject maximum quotas which cpc currently holds pct share and said foresaw increase other industrial uses starch the future notably the production ethanol for fuel raul gardini president the ferruzzi group said the present management the cpc milling business will asked remain their posts reuter 
earn	swire pacific ltd swpc hkg year shr cents adjusted shr cents final div cents making adjusted final div cents making net billion dlrs billion turnover billion billion note net profits excluded extraordinary gains billion dlrs mln the non recurrent earnings mainly derived from the firm sale pct stake cathay pacific airways ltd caph hkg april note earnings per share and dividends have been adjusted for the firm two for one bonus issue made april note bonus issue one for five for both and shares against two for one note dividends payable june books close april note net asset value per share dlrs and per share dlrs reuter 
earn	bat industries pretax profit billion stg billion 
earn	bat industries plc bti year shr div making turnover billion stg billion operating profit billion billion pretax profit billion billion tax mln mln note the company said shareholders would given the option receiving dividend cash ordinary shares combination the two operating profit includes commercial activities billion mln financial services mln mln share associated companies mln mln investment income mln mln interest paid mln mln minorities mln mln extraordinary credit mln mln debit transfer revaluation reserve mln mln profit attributable mln mln required inflation retention mln mln trading profit billion billion trading profit includes tobacco mln mln retailing mln mln paper mln mln financial services mln mln reuter 
earn	swire plans bonus issue higher profits swire pacific ltd swpc hkg said plans for one for five bonus issue for both its and shares following earlier report pct jump net profits billion dlrs the company also announced final dividends cents per share and cents per share against and cents year ago recorded extraordinary gains billion dlrs which mainly derived from the sale april pct stake cathay pacific airways ltd caph hkg line with the floatation the airline reuter 
trade	belgolux trade swings into january deficit the belgo luxembourg economic union recorded provisional trade deficit billion francs january after december surplus billion francs revised upwards from provisional surplus billion the national statistics office said january the union recorded deficit billion francs january imports fell provisional billion francs from billion december and billion year earlier but exports were also lower billion francs against billion and billion respectively reuter 
acq	guinness seeks injunction against saunders guinness plc guin will seek injunction the high court today freeze the assets former chairman ernest saunders its attempts recover mln stg paid jersey company part the company takeover battle for distillers plc spokesman said said the court move aimed freeze saunders assets the value the sum wanted recover was uncertain whether the court would reach any decision the request today guinness said last week planned take legal action recover the funds paid non executive director thomas ward via the jersey company lawyers representing ward have said saw the funds his reward for services performed during the takeover distillers guinness also planning resolution the annual meeting may remove both saunders and ward from the company board reuter 
earn	basf profit turnover boosted acquisitions basf basf said net profit its operating company basf corp rose last calendar year mln dlrs from mln turnover rose more than one billion dlrs billion the parent company said statement the rise however partly reflected the inclusion the first full business year three acquisitions made excluding these basf corp turnover rose four pct from acquisitions were the high performance connecting materials operations celanese corp inmont corp bought from united technologies and american enka bought from akzo akzo basf said expected investment mln dlrs part five year programme totalling one billion projects completed included the second acrylic acid plant freeport texas technical centre southfield michigan which paint lines from automotive plants can refitted and the new agricultural research centre research triangle park durham north carolina basf said that work this year had begun geismar louisiana plants for production special amines and polytetrahydrofuran well for expansion capacity for producing tetrahydrofuran reuter 
earn	bicc plc bicc year shr final div making pre tax profit mln stg mln attributable profit mln mln turnover billion stg billion more 
earn	nippon steel reduce dividend nippon steel corp nstc plans reduce its dividend three yen the year ending march from the five yen company spokesman said the company estimated parent company current losses billion yen including gain billion yen from the sale securities this compares with billion yen profit year earlier sales are seen billion yen down from billion year ago poor business prospects were attributed the yen rise and slow world steel demand nippon expected report parent company results late may total crude steel production estimated mln tonnes down from mln year earlier crude steel production likely below output but forecasts for profits and sales the year starting april are unavailable yet said reuter 
earn	bat sees strong performance from all sectors strong performance from all bat industries plc bti major sectors enabled the group pretax profits pass the one billion stg level for the third year running chairman patrick sheehy said statement the group earlier reported pct rise profits billion which sheehy said was achieved without any help from exchange rate fluctuations acquisitions good results were achieved its argos and saks fifth avenue retailing and wiggins teape and appleton paper tobacco accounted for about pct profit with four pct gain mln stg and two pct increase world volume the results were largely line with analysts expectations and bat shares firmed two pence gmt bat said the brown and williamson unit held most its gains and increased profit pct dollar terms financial services saw profits double mln with both eagle star and allied dunbar achieving further growth allied dunbar reported pct rise life annual premiums mln stg bat said increased new business pct the last nine months after relatively slow first quarter its permanent health insurance was now the market leader and its unit trust group was now the second largest the eagle star general premiums rose pct billion its life activities also grew pct with better underwriting results the second half cash flow was strong and the gross debt equity ratio dropped pct from pct the net ratio pct left the group strongly placed pursue its further development profits from paper and pulp grew pct mln stg nearly three times the level with wiggins teape sales rising pct pass one billion stg bat said had sold batus stores the for mln dlrs and sold grovewood securities for mln stg reuter 
trade	taiwan sees its investment rising sharply taiwanese investment the expected nearly double mln dlrs calendar and rise mln dlrs year five year forecast the economic ministry showed taiwanese investment the last year totalled mln dlrs the ministry document said the investment was mainly electronics trading food and service industries lee ming deputy director the ministry industrial development and investment centre said the forecast rise due planned government incentives and growing willingness among taiwanese invest abroad lee told reuters the incentives introduced may june include bank loans and reduction capitalisation requirements for businesses seeking invest the mln taiwan dlrs from mln said the moves encourage investment the are part taiwan efforts cut its trade surplus with washington which rose record billion dlrs from billion taiwanese manufacturers can create jobs for americans and avoid import quotas they set plants the added reuter 
earn	babcock international plc babk year div making increase pct shr adjusted pretax profit mln stg mln net mln mln interest payable mln mln share associated mln mln turnover billion stg billion reuter 
earn	delta group dltl year jan shr net basis shr nil basis div making pretax profit mln stg mln net after tax mln mln outside shareholders interests mln mln extraordinary debit mln turnover mln mln profit breakdown activity electrical equipment mln stg mln engineering mln mln industrial services mln mln corporate finance mln making total pre tax profit mln mln reuter 
earn	babcock expects further progress babcock international plc babk said statement accompanying final results for showing pretax profits mln stg from mln that overall further progress expected the predicted slowdown the automobile industry affecting the north american group although the improved performance the fata european group during expected continue into this year the overall profitability will improve when the central electricity generating board ordering programme for both nuclear and fossil fired fuels starts reuter 
trade	china tighten import control cut export costs china should tighten imports ordinary goods and restrict even forbid import goods which can made domestically premier zhao ziyang said told the national people congress china parliament that the country foreign exchange limited and must used where most needed should expand production import substitutes and increase their proportion said exports china should increase its proportion manufactured goods especially textiles light industrial goods electronics and machinery said zhao said china should lower the cost exports and control the export goods that incur too much loss china had trade deficit billion dlrs down from record billion zhao said china should work provide more favourable investment environment for foreign businessmen should use foreign funds for production and construction with stress firms making goods for export import substitutes china should also earn more foreign exchange from tourists and contracted labour abroad added reuter 
earn	kloeckner und profit falls about pct kloeckner kgaa the international trading group said its domestic group net profit fell around pct against adding that the profit resulted largely from writing back reserves the company which gave profit figures posted domestic group net profit mln marks said the profit was made possible through mln mark write back reserves that had been created cover possible price rises these reserves were longer necessary because recent declines raw material prices kloeckner attributed the profit decline the fall prices well the lower value the dollar said would pay unchanged dividend its ordinary share capital which entirely private hands and held largely family foundations kloeckner nominal mark profit participation certificates issued october will pay likely yield around pct holders the certificates are entitled quarter the payment around marks the company added reuter 
earn	swire expects continued growth this year swire pacific ltd swpc hkg expects continued growth all divisions this year though sees problems the marine sector chairman michael miles said told reporters has started well for cathay pacific airways which looks forward another good year swire properties expects further good results both from properties under development for sale and from its investment property portfolio did not give any specific projections for earnings the company earlier reported pct higher net profits billion dlrs from year ago swire also had extraordinary profit billion dlrs mainly from the sale pct interest cathay pacific airways ltd caph hkg miles said the company will use the money develop its business primarily hong kong swire stake cathay was first reduced pct from pct when cathay was publicly floated and then cut pct when cathay issued new shares amounting pct the enlarged capital the state owned china international trust and investment corp cathay last week reported its profits rose billion dlrs from mln year ago miles said despite last year rapid expansion cathay flights and fleet load factor still holding pct said cathay growth last year was the result marginal increase the revenue load factor coupled with savings fuel costs present fuel prices are stable and will remain stable for the rest this year said though there might bit increase later this year miles said swire not abandoning its offshore oil service operations even though the marine sector generally depressed obviously the marine industry not getting any better said the real estate market remained strong and swire last year revalued its property portfolio mln dlrs compared with increase mln dlrs the previous year miles said expects the property market remain firm but said the firm has available land for major housing project such its taikoo shing development hong kong island now near completion said the company pct unit hongkong united dockyard ltd negotiating with the government for the development existing petroleum storage depot into major housing estate but not big taikoo shing said reuter 
crude	abu dhabi reopen gulf oilfield hit raid abu dhabi offshore abu bukhoosh oilfield the gulf shut since aerial attack last november will reopen when new anti aircraft defences are ready and this could the next two months oil industry sources said they said the abu dhabi government and compagnie francaise des petroles total tpn whose total abu bukhoosh subsidiary owns pct the field have agreed the reopening but that date has not been definitely fixed unidentified planes hit the field miles off abu dhabi last november the raid killed eight workers and destroyed the main living quarters and bridge linking wellhead the main production platform western diplomats the region say iran was responsible but tehran has blamed its gulf war enemy iraq abu bukhoosh was producing barrels per day bpd the time the attack but the sources said would resume maximum half that level because reduced staff and the fact only four five wellheads were now operable the sources said only personnel can housed remaining accomodations the sources said facilities being installed protect the field include aircraft detection equipment anti aircraft missiles housing for military personnel and helicopter landing pads the sources said abu dhabi the largest oil producer the united arab emirates accounting for about bpd its total mln bpd production the sources said they also said iran was working reopen its sassan field part the same reservoir abu bukhoosh and located only few miles away sassan was heavily damaged iraqi air raid only days before abu bukhoosh was attacked reuter 
acq	rainbow lifts progressive stake pct rainbow corp ltd said has lifted its stake supermarket group progressive enterprises ltd pct from pct said statement has bought extra mln shares prices ranging from dlrs progressive currently the subject both proposed merger with rainbow and full takeover bid from brierley investments ltd bil the bil bid launched monday dlrs share the rainbow merger involves shareholders both rainbow and progressive being issued shares new company astral pacific corp ltd one for one basis rainbow chief executive craig heatley said our opinion bil actions over the last few days have been undertaken for their own strategic purposes which conflict with the desire both companies merge their interests bil has said against the merger because sees progressive shares being worth twice much rainbow progressive traded today rainbow and bil the end morning trading the new zealand stock exchange reuter 
money-fx	money market forecast revised show surplus the bank england said had revised its forecast the liquidity position the money market today surplus mln stg after estimated flat position earlier this morning reuter 
money-fx	bank england does not operate money market the bank england said had not operated the money market during the morning session earlier the bank revised its forecast the liquidity position the system today surplus mln stg from its original estimate flat position reuter 
money-fx	exchange rates almost within levels sumita bank japan governor satoshi sumita said that current exchange rates are almost within the levels agreed six major nations last month paris asked whether dollar yen rate reflected economic fundamentals said current rates almost reflect fundamentals sumita told reporters major nations have cooperated bring about currency stability line with the paris agreement which stipulated that they would closely cooperate that end repeated the central bank will intervene necessary adding did not think dollar free fall was likely but sumita said could not say exactly what currency levels would considered line with underlying economic fundamentals paris february britain canada france japan the and west germany agreed cooperate hold currencies around their then current levels sumita said could not find any specific reasons behind the fall the dollar record low against the yen yesterday but said the market rushed sell dollars nervously reacted statements abroad and developments surrounding trade tensions treasury secretary james baker said over the weekend that the paris pact did not encompass fixed tragets for the dollar trade representative clayton yeutter called japan relations certain key trade issues very strained the market reacted nervously because the dollar has been moving narrowly against the yen since mid january sumita said added does not expect the yen dollar exchange rate remain unstable because the market concerned about sharp rise the yen the bank japan will keep close watch exchange rates line with the paris accord added reuter 
earn	bicc seeks accelerated earnings growth london march bicc plc bicc which earlier announced pct rise pre tax profits said was determined achieve higher levels performance quality and service accelerate its improvement earnings bicc said statement that sales bicc cables were down due sharp drop demand for cable the oil and chemical industries after the oil price drop but profits balfour beatty were substantially improved profits increased bicc technologies and bicc international local currency terms while associated british cables had another excellent year the company said bicc shares were last quoted from yesterday close buoyant response results which were ahead market expectations dealers said bicc pre tax profits rose mln stg from mln with turnover rising from billion stg billion stg reuter 
earn	ocean transport and trading plc ottl year shr net basis div making pretax profit mln stg mln net after tax mln mln minority interest mln extraordinary debit mln mln turnover mln mln note the company said the sale the minority holding ocl has transformed the balance sheet and enables accelerate development reuter 
acq	dart group raises supermarkets general sgl bid dart group corp said has raised its offer acquire supermarkets general corp dlrs cash and three dlrs exchangeable preferred stock per supermarkets general share from dlrs per share cash the company said would also willing negotiate plan with the supermarkets general board under which supermarkets general shareholders would have common stock interest the combined company said remains willing negotiate all terms the proposed acquisition the original bid was worth about billion dlrs dart said the preferred stock the new bid would exchangeable for new class supermarkets general debt securities that would developed dart and supermarkets the new proposal would subject approval the supermarkets general board said the new bid was contained letter the supermarkets general board woodbridge supermarkets general responding previous letter its board dart said your conduct indicates that transaction involving trust and confidence can entered into with you your propaganda and missstatements will not panic our board dart its previous letter had alleged that supermarkets general executives were seeking millions dollar severance and tax payments from dart reuter 
earn	olson industries inc olsn qtr net oper shr cts dlrs oper net sales mln mln year oper shr dlrs cts oper net sales mln mln avg shrs note net excludes tax credits dlrs quarter and dlrs year net excludes discontinued operations gain dlrs loss dlrs quarter and gain dlrs loss dlrs year reuter 
earn	olson olsn have loss from egg unit sale olson industries inc said final negotiations the sale its remaining egg operations and expects the sale generate charge about two mln dlrs against net income the company said however that the sale will generate substantial cash flow pay off bank debt and improve working capital eliminate unmanageable effects profits the price instability the egg business and allow concentrate its plastics packaging business reuter 
acq	and man buy into hong kong firm the based commodity house and man ltd and singapore yeo hiap seng ltd jointly announced that man will buy substantial stake yeo pct held unit yeo hiap seng enterprises ltd man will develop the locally listed soft drinks manufacturer into securities and commodities brokerage arm and will rename the firm man pacific holdings ltd reuter 
earn	oracle corp orcl qtr feb net shr cts eight cts net revs mln mln avg shrs mln mln nine mths shr cts cts net revs mln mln avg shrs mln mln note share adjusted for two for one stock split current year net includes capitalized software costs dlrs quarter and dlrs nine mths reuter 
earn	enterra corp qtr loss shr loss dlrs loss cts net loss mln loss revs mln mln year shr loss dlrs loss cts net loss mln loss revs mln mln note net both periods includes mln dlr weritedown assets services segment and southeast asian joint venture reuter 
earn	johnstown consolidated realty trust jct net qtr shr cts eight cts net one mln year shr cts dlrs net mln note net includes loan loss provisions cts shr cts quarter and cts shr cts year reuter 
acq	duriron duri completes valtek valt purchase duriron inc said has completed the acquisition valtek inc for dlrs per share following valtek shareholder approval yesterday reuter 
earn	washington federal savings wfsl quarterly div qtly div cts cts pay april record april note year ago adjusted reflect march three for two stock split washington federal savings and loans association reuter 
earn	rowley scher rsch have loss for year rowley scher reprographics inc said expects report operating loss and loss from the sale its mid south repro subsidiary for the year ending march last year the company reported earnings dlrs rowley scher did not disclose details the sale mid south repro said the sale has eliminated unprofitable operation the company also said will open two new reprographic centers the washington baltimore area within the next three weeks brining the total there and new downtown boston location the same time period brining the number the boston area four reuter 
acq	dixons said got and accepted only pct cyclops shares tender 
acq	dixons gets only pct cyclops cyl bid dixons group plc said only about shares cyclops corp common stock pct fully diluted basis were tendered and not withdrawn under its bid for all shares that expired yesterday but the companmy has still decided accept all shares validly tendered the company said now has about pct ownership cyclops fully diluted basis and expects proceeds toward completion its proposed acquisition cyclops last week before extending its cyclops offer for one week the request the securities and exchange commission dixons had reported that pct cyclops stock had been tendered response its dlrs per share offer which expired est yesterday yesterday cayacq corp dropped certain conditions its dlrs share offer for cyclops and firmed the financing for the proposed transaction cayacq investor group led audio video affiliates inc and citicorp raised the value its offer from dlrs per cyclops share friday reuter 
earn	kaufman and broad home corp kbh qtr feb shr cts seven cts net revs mln mln avg shrs mln mln reuter 
acq	renouf has pct benequity units renouf corp international said now owns pct benequity holdings california limited partnership renouf said has accepted for payment all units benequity holdings tendered response its dlrs per unit offer along with the units already held renouf now owns pct the units outstanding reuter 
crude	oil analyst sees papua new guinea good prospect papua new guinea png provides the most exciting new prospect the asia pacific region for oil production energy analyst fereidun fesharaki said here the recent successful find iagifu likely put png the list major oil exporters the early told the australian petroleum exploration association annual conference fesharaki leader the energy program the east west center honolulu hawaii was speaking the asia pacific petroleum outlook with domestic demand around barrels per day bpd and prospects production over bpd late png would become ecuador level crude exporter fesharaki said the iagifu wells the papuan basin have recorded the best oil flows more than years exploration png the png government geological survey paper distributed the conference estimates iagifu reserves about mln barrels png enjoys the most liberal tax regime the region with secondary taxes fesharaki said expect much larger oil search papua new guinea and discovery much larger volumes oil similar quality light bass strait crude fesharaki said there are also large pockets high quality condensates produced notably the juha field near iagifu which capable producing bpd said but prices should somewhat higher than the present levels justify development the juha field said the png geological survey paper noted there are five large prospective but little explored sedimentary basins png reuter 
earn	usair group inc sets quarterly qtly div three cts three cts prior pay april record april reuter 
acq	mcfarland mcfe buy petrominerals ptro mcfarland energy inc said its board and that petrominerals corp have approved definitive agreement for mcfarland acquire petrominerals exchange stock mcfarland said would exchange one common share for each petrominerals shares mcfarland said former holders petrominerals will have pct interest the combined company the merger still subject approval shareholders both companies reuter 
acq	timminco acquires universal adhesives timminco ltd said acquired universal adhesives inc memphis for undisclosed terms move expand timminco operations into the united states the company said universal adhesives with five plants has annual sales mln dlrs which will double timminco presence the north american adhesives market timminco said universal adhesives will complement the company canadian based industrial adhesives division and key step its long term goal for expansion the specialty chemical field reuter 
earn	paloma petroleum ltd year net shr cts cts net revs mln mln reuter 
earn	american resource corp ltd year net shr five cts cts net revs not given note prior shr and net include mln dlr gain sale equity holdings results funds reuter 
acq	waste management ends tender offer for chemlawn 
earn	one valley bancorp ovwv raises quarterly qtly div cts cts prior pay april record march note one valley bancorp west virginia inc reuter 
earn	national data corp ndta qtr feb net shr cts cts net revs mln mln avg shrs mln mln nine mths shr cts cts net mln revs mln mln avg shrs mln mln reuter 
earn	nvhomes nvh sets two for one split nvhomes said its board declared two for one split class units payable shareholders record april said certificates will distributed about two weeks after the record date reuter 
earn	vanguard technologies international inc vti shr cts cts net revs mln year shr cts cts net revs mln mln reuter 
earn	thomson mckinnon government fund dividend mthly div cts cts prior month payable april six record marcxh reuter 
earn	thomson mckinnon income fund dividend mthly div cts cts prior month payable april six record marcxh reuter 
earn	oakridge holdings inc qtr dec net shr cts four cts net sales six mths shr cts cts net sales note net includes gain cts share from the sale funeral home and tax credits cts net includes tax credits one cent the quarter and cts the six months period reuter 
earn	general computer corp gccc qtr feb net shr cts cts net revs avg shrs nine mths shr cts cts net revs mln avg shrs reuter 
acq	brierley offer for progressive still valid brierley investments ltd bil said its offer dlrs per share for supermarket group progressive enterprises ltd still stands although rainbow corp ltd said today has pct progressive bil said statement will review events daily basis rainbow announced earlier that had increased its stake progressive pct from pct through the purchase mln shares between and dlrs per share bil chief executive paul collins said all rainbow has done outlay substantial amount cash purchase shares from parties who presumably were supportive the merger rainbow has proposed merger with progressive form new company astral pacific corp ltd under the merger shareholders both progressive and rainbow will issued shares the new company one for one basis quite simply rainbow should now bid for the balance progressive enterprises dlrs per share collins said reuter 
earn	avatar holdings inc avtr year net oper shr cts seven cts oper net revs mln mln note net excludes tax credits dlrs dlrs reuter 
crude	norway offers licence round offshore blocks norway has offered new offshore blocks foreign and domestic applicants the first phase the country eleventh concession round government officials said company shares each the licences proposed the oil and energy ministry are not final the ministry has given the companies days accept decline the proposed shares french companies ste nationale elf aquitaine elfp and total cie francaise des petroles tpn which were expected receive operatorships following france agreement last autumn purchase gas from norway troll field were not offered operatorships this round industry sources said three eleventh round blocks were awarded the haltenbanken exploration tract off central norway including the smoerbukk west field where den norske stats oljeselskap stat statoil was appointed operator statoil will share the licence with subsidiaries oil companies tenneco inc tgt and texas eastern corp tet and the italian oil company agip spa norwegian subsidiary pont nemours subsidiary conoco norway inc was named operator haltenbanken block and will share the licence with statoil norsk hydro nhy will operate nearby block with partners statoil norsk agip royal dutch shell group norske shell and deminex unit deminex norge statoil has been offered the operatorship new block the relatively unexplored moere south exploration area south haltenbanken with norske shell texas eastern and petroleo brasileiro petrobras also offered stakes the block norwegian companies landed operatorships all six blocks opened the barents sea area off northern norway the blocks were awarded three licenses each covering two blocks statoil will head exploration blocks and sharing the licence with exxon corp xon norwegian subsidiary esso norge the british petroleum plc petroleum development norway ltd shell norsk hydro and saga petroleum sagp blocks and were awarded norsk hydro the operator statoil mobil corp mob mobil exploration norway petrofina petb norske fina and the third barents sea licence covering blocks and went saga petroleum the operator statoil atlantic richfield arc arco norge total marine norge and amerada hess corp ahc the oil ministry withheld awards four strategic blocks included the eleventh round second phase the ministry accepting applications for phase two blocks until early april and the awards will likely announced this summer officials said reuter 
earn	perception technology pcep take charge perception technology corp said expects take charge about dlrs cts per share against earnings for the second quarter ended march due the bankruptcy proceeding customer new york inc perception said has outstanding lease receivables from about dlrs said the exact amnount the charge will depend the extent recovery the leased equipment involved and arrangements that might made with the bankruptcy court the equipment reuter 
acq	reuters buy sharp canada reuters holdings plc rtrs said had agreed principle buy sharp associates ltd toronto for mln stg sharp time sharing network and database company specialising finance economics energy and aviation operates global packet switching network and global limits systems for foreign exchange trading sharp shareholders will offered cash shares mixture the two settlement the acquisition which subject canadian government approval would through amalgamation into specially created company reuters said had been given options number sharp shareholders covering pct the common stock pending completion reuters review the company sharp operates offices countries reported revenue mln canadian dlrs with pretax loss mln compared with mln profit however sharp said that internal accounts showed the company was profit the first two months end net assets totalled mln dlrs reuters statement said the acquisition would fit perfectly into its package for the banking and securities industries reuter 
earn	horizon bank hrzb sets stock split horizon bank said its board declared three for two stock split payable april holders record april seven reuter 
acq	waste wmx ends offer for chemlawn chem waste management inc said its wholly owned subsidiary wmx acquisition corp ended its tender offer buy shares chemlawn corp dlrs share all shares tendered waste management will returned shareholders soon practical said earlier this week chemlawn agreed accept merger proposal dlrs share from ecolab inc transaction valued about mln dlrs reuter 
earn	ackerly communications inc year loss shr loss dlrs loss dlrs net loss mln loss revs mln mln avg shrs reuter 
acq	united medical sell unit united medical corp said has reached definitive agreement sell its hospital distribution unit myriad group inc for undisclosed terms with closing expected the next several weeks reuter 
crude	thatcher defends oil policy saudi interview british prime minister margaret thatcher denied interview published saudi arabia today that her government oil policy contributed weakness world oil prices she said the government was determined not intervene influence production decisions oil companies operating the north sea believe these must matter for the commercial judgment the oil companies she told the arabic language daily sharq awsat interview coinciding with visit london king fahd saudi arabia thatcher said this policy had not contributed the fall oil prices north sea production was now about the same when prices were close dlrs barrel british production was plateau and was unlikely increase the future she said naturally share the concern saudi arabia and other opec members about the harmful effects oil market volatility for both producer and consumer countries thatcher said our part are careful avoid any actions which might add such volatility reuter 
acq	crossland savings crld acquires western savings crossland savings fsb said has acquired western savings and loand with the assistance the federal savings and loan insurance corp crossland said salt lake city based western has been combined with its two florida based thrift subsidiaries the parent company contributed mln dlrs cash the resulting billion dlr asset subsidiary which will operate under the name crossland savings fsb with headquarters salt lake city crossland said western with assets mln dlrs operated branch offices the states california oregon utah and washington facilitate the acquisition crossland said western was converted from mutual stock association voluntary supervisory conversion crossland and the fslic executived assistance agreement indemnifying crossland from certain losses that could occur connection with western loan portfolio the company said james heagerty chairman and chief executive officer crossland savings fsla bradenton fla will serve that capacity for the new subsidiary resulting from the merger western president christopher sumner will president the combined unit crossland said reuter 
money-fx	bank england drains money market liquidity the bank england said drained liquidity from the money market when sold mln stg treasury bills due march rates between and pct earlier the bank estimated surplus around mln stg the system today reuter 
earn	vicorp restaurants inc vres qtr feb net shr profit dlrs loss cts net profit mln loss revs mln mln note current year net includes gain dlrs from the sale its specialty restaurants unit charge dlrs from addition insurance reserves dlr tax credit and dlr charge from debt repayment reuter 
acq	commerzbank acquire and float linotype commerzbank cbkg said will acquire linotype gmbh europe largest manufacturer type setting and printing communications technology from allied signal inc ald and float off the shares the company commerzbank declined say how much had paid for linotype linotype group turnover rose pct more than mln marks the bank said the group net return capital was seven pct reuter 
earn	pioneer standard electronics inc pios payout qtly div three cts three cts prior pay may one record april eight reuter 
trade	house ways and means cmte finishes work bill toughen trade laws 
earn	fabri centers fca qtr ends jan net shr cts cts net revs mln mln mths shr cts cts net revs mln mln reuter 
earn	tseng laboratories inc tsng qtr net shr profit one loss nil net profit loss revs avg shrs mln mln year shr profit one profit one net profit profit revs avg shrs mln mln reuter 
earn	park electrochemical corp pke sets payout qtly div three cts three cts prior pay may record april reuter 
ship	brazil seamen say strike near end about half brazil seamen have returned work after accords with companies and the national strike which began february looks close ending union spokesman said the spokesman speaking from strike headquarters rio janeiro estimated that ships were strike bound the seamen have settled for pct pay increases with the individual companies but are still discussing the issue overtime payments with the shipowners association syndarma reuter 
trade	key house panel finishes major trade bill the house ways and means committee completed action legislation toughen trade laws chairman dan rostenkowski said the committee consideration one the most controversial provisions plan force major trade surplus countries cut their trade imbalance with the united states was deferred until the full house considers the trade bill its sponsor rep richard gephardt said gephardt missouri democrat told reuters was not certain the exact form his trade surplus reduction proposal would take last year the house approved his plan force pct surplus cutback each year for four years countries such japan the ways and means committess trade bill forces president reagan retaliate against unfair trade practices that violate international trade agreements but allows him wave retaliatory tariffs quotas the action would hurt the economy the trade bill gives trade representative clayton yeutter more authority trade negotiations and decisions grant domestic industries import relief also gives him authority decide whether foreign trade practices are unfair and violate trading rights these powers are currently held president reagan the administration has strongly objected this transfer authority from reagan yeutter the bill also extends authority negotiate multilateral trade agreements the bill will wrapped into other trade legislation and voted the house april reuter 
earn	russ togs inc rts qtr jan net shr cts cts net sales mln mln year oper shr dlrs dlrs oper net mln mln sales mln mln note prior year net excludes loss dlrs from discontinued operations and loss disposal dlrs reuter 
acq	thermo process tpsi acquisition terminated thermo process systems inc said its proposed acquisition the surface combustion division privately held midland ross corp has been terminated because mutually satisfactory terms could not established reuter 
earn	utilicorp ucu sees higher first quarter utilicorp united corp said expects report first quarter earnings about mln dlrs about dlrs share and revenues about mln dlrs the comparable quarter year ago utilicorp earned mln dlrs cts revenues mln dlrs there are mln shares outstanding this year from the mln shares utilicorp president richard green told financial analysts here first quarter results include one month contribution west virginia power which became division march green said remarks prepared for delivery analysts higher earnings for the period reflected reduced operating and maintenenace expenses and about mln dlrs rate increases iowa minnesota kansas and colorado said however utilicorp missouri public service division experiencing the effect pct rate reduction authorized september noted utilicorp total revenues expected for the first quarter about mln dlrs will derived from electric operations and about mln dlrs will come from gas operations said operating income derived from electric operations the first three months estimated eight mln dlrs while the contribution from gas operations will about mln dlrs green said green told analysts that utilicorp received regulatory approval from various states and the federal energy regulatory commission reincorporate delaware effective april one utilicorp signed agreement with cominco ltd vancouver extend the deadline may for completion the company purchase west kootenay power and light british columbia due longer than expected regulatory approval process said hearings were completed february and decision the british columbia utilities commission the mln dlrs purchase utilicorp pending said reuter 
earn	tseng tsng sees sales increase first qtr tseng laboratories inc said expects first quarter sales exceed total sales for the entire year and said expects earnings for the quarter grow faster rate than sales tseng posted total revenues for and net income cts per share jack tseng president the company attributed the high expectations increased orders from major costomers well accelerated business from its growing reseller network tseng posted first quarter sales and net income the company said reuter 
acq	stockholder systems ssiaa makes acquisition stockholder systems inc said has agreed principle acquire privately held software concepts inc which provides software for check processing mortgage application processing and safe deposit box accounting for undisclosed terms software concepts had revenues about dlrs for the year ended june reuter 
earn	concept inc ccpt qtr feb net shr cts five cts net sales avg shrs half shr cts cts net sales mln mln avg shrs note share adjusted for five for four split february reuter 
earn	life indiana corp lifi qtr loss shr loss two cts profit six cts net loss profit revs avg shrs year shr profit cts profit cts net profit profit revs mln mln avg shrs note net includes tax credits dlrs quartger and dlrs year reuter 
earn	saul real estate investment bfs payout qtly div five cts five cts prior pay april record april note saul real estate investment trust reuter 
earn	maytag myg sees capital spending maytag said expects capital spending increase about mln dlrs from mln dlrs maytag chairman and chief executive officer daniel krumm said the company plans significant investment its admiral refrigerator plant galesburg ill well continued spending for product improvement and increased efficiency other maytag facilities earlier the company reported net income mln dlrs per share versus net income mln dlrs dlrs share reuter 
acq	travelers tic unit buy realty divisions the travelers corp travelers mortgage services said signed letter intent buy two subsidiaries the privately held equitable life assurance society the the company said plans acquire the equitable relocation management corp and the equitable realty network inc the company said the acquisitions will give broader distribution its corporate relocation service and mortgage programs reuter 
earn	communications and cable inc ccab qtr net oper shr seven cts loss nil oper net loss revs note net excludes gains from discontinued operations dlrs dlrs current year net includes gain dlrs from sale cellular telephone investment prior year figures restated for discontinued operations reuter 
acq	dallas investor cuts stake mcdermott mdr group led dallas investor harold simmons told the securities and exchange commission had reduced its stake mcdermott international inc one pct under five pct the group had said march filing announcing acquisition pct the firm stock that might consider seeking control the company reuter 
earn	westwood one inc wone qwtr feb net shr cts eight cts net revs mln mln avg shrs reuter 
ship	iran says has better weapons than silkworm iranian prime minister mir hossein mousavi said iran had more effective missiles its disposal than the shore sea missiles which had provoked concern tehran radio reported state department spokesman said last week iran had acquired chinese made silkworm missiles which posed greater threat shipping the gulf than the weapons previously used tehran radio monitored the british broadcasting corp quoted mousavi saying that tehran officially announced after its forces overran southern iraq faw peninsula february last year that had shore sea missiles the fact that the americans after much delay are now thinking expressing their concern with panic because reagan needs this sensation now said mousavi speaking after cabinet meeting tehran also announce today that these missiles are not the limit our war capabilities the gulf added mousavi said the security the gulf region had nothing with the but iran would resort any action defend the gulf even those actions which are not thought probable westerners reuter 
earn	tricentrol concentrate proven reserves tricentrol plc tct said will concentrate most its efforts this year its proven oil and gas reserves order maximise benefits shareholders the mid long term said statement are confident that substantial development funds will available tricentrol and that will able minimise further disposal our interests tricentrol wrote off mln stg the reorganisation its north american operations last year when oil prices plunged the group incurred net loss mln stg against mln profit the previous year reuter 
earn	brooklyn union gas sets payout qtrly div cts cts prior pay may one record april reuter 
ship	argentine port workers take industrial action argentine port workers began indefinite protest against safety conditions the port buenos aires stopping work for one hour per shift press spokesman said said three port workers had died over the last month accidents said the decision take action was made after port worker died yesterday after being electrocuted reuter 
acq	novamin says received proposed takeover bid from breakwater 
acq	novamin proposed buyout breawater bwrlf novamin inc said received proposed takeover offer from breakwater resources ltd involving swap one breakwater share for two novamin common shares said the proposal also called for conversion outstanding novamin warrants into breakwater common shares the same basis provided the exercise price was paid the warrant holders novamin mineral exploration company said directors would meet next tuesday deal with the proposal which said was subject approval breakwater directors reuter 
earn	lilly industrial coatings inc licia qtr feb end shr cts cts net sales mln mln avg shrs note share adjusted for five pct stock dividend august reuter 
acq	commonwealty realty crtyz bay bay end talks commonwealth realty trust said preliminary merger talks with bay financial corp have been terminated due failure agree terms reuter 
earn	met pro corp mpr qtr ends jan net shr cts cts net revs mths shr cts cts net revs mln mln reuter 
earn	central maine power ctp sets quarterly qtly div cts cts prior pay april record april reuter 
earn	pep boys pby sets split raises quarterly manny moe and jack inc said its board declared three for one stock split and raised the quarterly dividend six cts presplit from cts both are payable july holders record july one and the the split subject shareholder approval the may annual meeting increase authorized common shares mln from mln the company said reuter 
earn	pep boys manny moe and jack inc pby qtr jan end shr cts cts net sales mln mln year shr dlrs dlrs net mln mln sales mln mln note latest year net includes three cts shr gain from sale assets reuter 
earn	hovnanian enterprises hov earnings rise hovnanian enterprises inc said the company earnings for year would exceed the dlrs share previously announced and could high dlrs for fiscal year ended feb the company posted net earnings mln dlrs dlrs per share revenues mln dlrs for fiscal year these figures reflect two three for two stock splits march and august the annual drexel burnham lambert construction conference here hovnanian executive vice presidnt ara hovnanian said the company expects earnings range between dlrs and dlrs per share for fiscal total revenues for the year ending feb should between mln and mln said reuter 
earn	sunstar foods inc sunf qtr feb net shr cts not reported net sales mln mln six mths shr cts cts net sales mln mln note six months net includes loss from discontinued operations equal two cts share net includes losses from discontinued operations four cts the quarter and six cts the six months reuter 
acq	hadson hads acquire pct seaxe seax hadson corp said has signed definitive agreement acquire pct the outstanding common stock seaxe energy corp the company said will buy the pct interest seaxe from shareholders owning restricted controlled shares for less than hadson common shares said closing subject the approval title assignments the french government seaxe involved oil and natural gas exploration and development the paris basin france reuter 
acq	reuters buy sharp canada reuters holdings plc rtrs said had agreed principle buy sharp associates ltd toronto for mln stg sharp time sharing network and database company specialising finance economics energy and aviation operates global packet switching network and global limits systems for foreign exchange trading sharp shareholders will offered cash shares mixture the two settlement the acquisition which subject canadian government approval would through amalgamation into specially created company reuters said had been given options number sharp shareholders covering pct the common stock pending completion reuters review the company sharp operates offices countries reported revenue mln canadian dlrs with pretax loss mln compared with mln profit however sharp said that internal accounts showed the company was profit the first two months end net assets totalled mln dlrs reuters statement said the acquisition would fit perfectly into its package for the banking and securities industries reuter 
earn	tcby enterprises tcby splits stock tcby enterprises inc said its board has approved three for two split its common stock with distribution made april stockholders record april the split will increase the number outstanding shares over mln from about mln shares now the company said tcby enetrprises franchisor and operator retail stores specializing frozen yogurt related treats reuter 
earn	raytheon rtn sets quarterly qtly div cts cts prior pay april record april reuter 
earn	glatfelter glp increases dividend glatfelter said its board increased its quarterly dividend its common stock cts per share from cts per share the prior quarter said the dividend payable may shareholders record april addition the company said authorized the repurchase additional one mln shares its common stock march the board had authorized the repurchase two mln shares adjusted for two for one split effected april the company said the company said shares may still repurchased under the authorization added any shares repurchased would added the treasury and will available for future issuance the company said has present plans issue any the shares which may repurchased the company said presently has common shares outstanding reuter 
earn	life indiana corp lifi qtr loss shr loss cts profit cts net loss profit year shr profit cts profit cts net profit profit reuter 
acq	consolidated norex acquire triweb resources consolidated norex resources ltd said agreed acquire all issued and outstanding shares triweb resources ltd privately held oil and gas company with land holdings and production base alberta and saskatchewan the company said specific details relating purchase price and other terms will released closing the transaction expected may reuter 
acq	reichhold chemicals inc exploring possible sale european subsidiary 
earn	ross stores inc rost qtr jan loss shr loss dlrs profit cts net loss mln profit sales mln mln year shr loss dlrs profit cts net loss mln profit sales mln mln note latest year net both periods includes mln dlr provision for closing underperforming stores reuter 
earn	navistar nav still expects higher net navistar international corp chairman donald lennox repeated that benefits from recapitalization are likely boost future earnings for fiscal lennox told the annual meeting that future quarterly and full year earnings from ongoing operations should significantly above results his remarks lennox said management has plans recommend reinstatement the company common stock dividend the foreseeable future said the outlook for the medium duty truck market continues point little change but recent order receipts indicate firmer tone the heavy duty truck segment which could result five eight pct increase industry shipments for the full year said after restructuring under the holding company format the company present truck and engine subsidiary will known navistar international transportation corp neil springer currently president and chief operating officer navistar international was named chairman the new subsidiary james cotting now vice chairman and chief financial officer was named succeed lennox chairman and chief executive officer navistar international corp lennox will retire march shareholders the meeting approved change the company structure holding company format effective april reuter 
earn	corrected lilly industrial coatings inc licia qtr feb end shr cts cts net sales mln mln avg shrs note share adjusted for five pct stock dividend august company corrects current year sales reuter 
earn	bat shares undervalued say stock market analysts bat industries plc bti results which were the upper end market expectations showed the company was strong position and that its shares were probably undervalued share analysts said bat shares were down late afternoon trading after previous close they touched high earlier news pct rise annual profits billion pre tax stock market analysts said today generally weak stock market plus unwinding positions after heavy buying bat shares the run the results caused the fall the share price the current market people almost expect companies beat expectations said one analyst adding that pretax profits billion stg had been forecast bat figure billion stg compared with pretax profit billion brokers noted that bat shift away from its underperforming industries and the decreasing share the tobacco portion the group were seen good signs bat chairman patrick sheehy told news conference that the tobacco sector the company had declined pct from pct four years ago sheehy said could see the tobacco portion the company declining further other sectors increased importance said bat was looking expand the area financial services particular the sheehy also said the group had sizeable acquisitions sight the near future analysts said bat increasingly good performance the insurance area was encouraging its declining debt equity ratio currently about pct also made likely that bat would soon looking make major acquisitions they said reuter 
acq	reichhold rci exploring sale european unit reichhold chemicals inc said exploring the sale its stake its european subsidiary reichhold chemie reichhold chemie headquartered rausen switzerland had sales excess mln dlrs last year pct owned reichhold the rest owned german and swiss shareholders reichhold said seeking the sale focus its adhesives business reuter 
acq	ual said donald trump was interested ual stock investment 
earn	int broadcasting ibca sets reverse split international broadcasting corp said shareholders its annual meeting approved one for reverse stock split the split will effective after completion filing requirements said new certificates will needed added the media company said currently has common shares issued and outstanding and upon completion the reverse split will have shares outstanding reuter 
earn	inc biac sets reverse split inc said implementing one for reverse split shareholders record today said any fractional shares will redeemed for cash reducing its free trading stock public hands shares from mln and its total shares outstanding from mln shareholders approved the reverse split october reuter 
trade	baldrige says japan must open its markets commerce secretary malcolm baldrige said the united states will not stand idly and let japan dominate the world electronics market baldrige told the senate finance committee the united states would insist japan open its markets products the market open japanese products asked after his testimony this meant the united states would close its markets japan they did not open theirs baldrige said not prepared say that but certainly would one the alternatives studied baldrige said his testimony japan had closed supercomputer market and restricted telecommunications market can only conclude that the common objective the japanese government and industry dominate the world electronics market given the importance this market industry general and our defense base particular cannot stand idly said said was these concerns about national security which led him express reservations over the proposed acquisition fairchild semiconductor fujitsu japan reuter 
earn	basf corp year net net mln dlrs mln sales billion billion note wholly owned basf west germany reuter 
earn	montana power mtp votes quarterly dividend qtly div cts cts prior qtr pay april record april reuter 
acq	ual ual said trump talked with ual chairman real estate magnate donald trump told ual inc chairman richard ferris that was interested ual stock investment according ual executive trump who was unavailable for comment believed market sources have sizeable position ual which began accumulating several weeks ago ual stock today was three active trading they ferris and trump talked last week apparently trump said was interested investment didn say how much stock had didn say what would wouldn about said ual senior vice president kurt stocker trump believed have close five pct ual stock market sources said reuter 
earn	team inc tmi qtr feb net shr profit five cts loss cts net profit loss revs mln mln nine mths shr profit six cts loss dlrs net profit loss revs mln mln reuter 
earn	todd shipyards corp omits qtly common div sets preferred payout 
earn	rsi corp rsic qtr feb net shr cts cts net revs mln mln half shr cts cts net revs mln mln note share after stock splits net includes discontinued operations loss four cts shr nil quarter and loss seven cts gain one half reuter 
earn	rcm technologies inc rcmt qtr jan loss shr loss one loss one net loss loss revs reuter 
earn	mcclain industries inc mccl qtr dec net shr cts cts net sales note current year net includes gain from sale sterling heights mich plant dlrs another dlrs gain from sale sale has been treated deferred income reuter 
acq	synalloy syo ends plans sell unit synalloy corp said has ended talks the sale its blackman uhler chemical division intex products inc because agreement could not reached the company said does not intend seek another buyer reuter 
acq	acquiring trimac stake tricil inc said would exercise its right acquire trimac ltd stake their jointly owned tricil ltd for mln dlrs with closing expected may added that the final price could less however depending ontario court ruling resulting from previously reported legal action launched mississauga ontario based tricil waste management company with operations the and canada reuter 
acq	pantera pant buy ten pizza restaurants pantera corp said agreed buy ten pizza restaurants southeastern colorado from creditors foreclosing the facilities the purchase price includes mln dlrs cash and company stock said separately pantera said issued area development agreement with franchisee group for northeastern colorado including the denver area for the opening about franchised pantera pizza restaurants reuter 
acq	allied signal inc sell linotype group commerzbank west germany 
earn	todd shipyards tod omits commmon dividend todd shipyards corp said omitted payment the quarterly dividend its common stock and lowered the dividend its series preferred stock cts from cts share todd said the preferred dividend will paid may one shareholders record april the company said omitted the common dividend cover both losses from commercial ship conversion contract and increased reserves for previously announced discontinued shipyard operations addition the company said its lenders agreed temporarily reduce the net worth requirement its revolving credit and term loan pact mln dlrs from mln the reduction will hold through may said todd said the reduction the net worth requirement allowed for the payment the preferred dividend and prevented from violating covenants its credit agreement the company said also negotiating with its lenders extend the reduced net worth terms beyond may todd added that has suffered financially because the navy unwillingness release certain retentions under completed ship construction contracts and general decrease military spending reuter 
earn	imo delaval imd sets initial dividend imo delaval said its board declared initial quarterly dividend cts per share payable april holders record april reuter 
earn	national computer systems inc nlcs qtr net shr cts cts net revs mln mln avg shrs mln mln year shr cts cts net revs mln mln avg shrs mln mln reuter 
acq	allied signal ald sell linotype unit allied signal inc said agreed sell its linotype group unit commerzbank west germany for undisclosed amount allied signal said commerzbank expected offer shares the unit the public later this year the company said the agreement subject approval the government and its shareholders the linotype unit based eschborn west germany had revenues more than mln dlrs the company said the company said top management linotype plan remain with the unit which has operations the united states west germany and the united kingdom allied signal announced december that planned sell the linotype unit well six other businesses its electronics and instrumentation segment linotype supplier type and graphics composition systems reuter 
earn	continental health affiliates inc cthl qtr shr cts five cts net revs mln year shr cts cts net revs mln mln reuter 
crude	canada sets oil industry aid package canada federal government will provide mln dlr oil industry aid package that includes cash incentives designed cover one third company oil and gas exploration and development costs energy minister marcel masse announced the aid program will inject about mln dlrs year into the oil and gas industry and could lead more than one billion dlrs new investment masse told news conference the program will affect drilling done anywhere canada after april masse told reporters that the government oil industry aid package aimed small and medium sized companies the aid package called the canadian exploration and development incentive program will restrict the total payments that any individual company can claim mln dlrs year masse said the program will probably generate new employment equivalent people working for year said oil industry aid needed because exploration and development spending dropped least pct since world oil prices fell during the first half energy minister masse said the federal government decided provide cash incentives large number non tax paying companies mainly small canadian firms will receive the full value the incentive such companies would not immediately benefit from tax benefits said the federal government also wanted deliver aid program outside the tax system finance minister michael wilson now reviewing canada tax system and plans announce tax reform proposals later this spring important feature the aid program decision let companies issue flow through shares allowing investors benefit from the subsidy rather than restricting benefits only participating companies said allowing flow through shares under the program will make easier for companies attract investors exploration and development masse said told reporters his department still considering whether allow partnerships and other entities qualify for the subsidy reuter 
acq	messidor merge with triton beleggingen messidor ltd said signed letter intent acquire pct the outstanding shares triton beleggineng nederland european investment portfolio management company approved two mln shares stock held the messidor ltd officers and directors would issued triton shareholders triton will become subsidiary messidor said approved the president triton hendrik bokma will nominated chairman the combined company there are about mln messidor units issued the public consisting one share common stock four class common stock warrants four class common stock warrants and four class common stock warrants addition there are four mln restricted shares outstanding messidor said the acquisition expected completed june three reuter 
earn	encor energy corp inc net loss mln profit mln 
earn	middle south msu form new dividend policy middle south utilities inc taking conversative approach formulating new common stock dividend policy chairman edwin lupberger said told securities analysts that when the company common dividend resumed the initial rate will appear conservative you industry standards and relation msu net income and cash flow our progress will determine how soon can reinstate dividend our common stockholders said the company last paid common dividend cts share july lupberger told the analysts that the company primary objective create financial strength enough strength that what happened and our stockholders over the past couple years never happens again the company has faced regulatory challenges rates proposed cover the cost its grand gulf nuclear plant said middle south net income expected post modest growth over the next three years the company earned mln dlrs dlrs share revenues billion dlrs lupberger said good portion the improvement projected for the next three years comes from keeping the lid operating and maintenance expenses reuter 
acq	twa sold four mln shares usair believed institutions wall street sources 
acq	investors increase stake frost sullivan one pair private investors frost and sullivan inc told the securities and exchange commission increased his stake the firm about two pct pct theodore cross princeton editor business and society review the other investor mason slaine cos cob mass president dealers digest inc holds pct stake cross told the sec bought the new shares between and dlrs reuter 
ship	liberian ore carrier collision river elbe the liberian motor bulk carrier trave ore dwt loaded with ore and the dwt west german motor vessel christa collided late last night the river elbe near buoy lloyds shipping intelligence said the trave ore proceeded its own means hamburg the christa was taken tow with damaged bow the liberian vessel was concluding trip from seven islands hamburg reuter 
earn	hershey oil corp hso qtr loss shr loss cts loss dlrs net loss loss revs year shr loss cts loss dlrs net loss loss revs reuter 
earn	and inc egg sets quarterly qtly div cts cts prior pay may eight record april reuter 
earn	encor energy corp inc year loss shr not given net loss mln profit mln revs mln mln note net includes mln dlr asset writedown before mln dlr recovery deferred taxes pct owned dome petroleum ltd dmp reuter 
ship	brazilian labour unrest spreads many banks shut brazil labour unrest spreading with many banks universities and government statistical offices strike and more pay disputes looming bankworkers leaders said that national strike launched yesterday press for pct immediate pay rise and monthly salary adjustments had the support most the workforce the strike today closed the stock exchanges sao paulo and rio janeiro for the government the one positive development the labour front was the gradual return work the nation seamen who began national strike february union spokesman rio janeiro told reuters about half the seamen had returned work after accords with companies and that the strike looked close end otherwise the labour scene looked bleak with the bank strike posing the most serious problems for brazil crisis laden economy this goes for more than few days will have serious effect because normal financial operations will grind halt said western diplomat sao paulo today brazil university teachers the federal universities launched national strike with broad political demand well pay claim david fleischer head the political science department brasilia university told reuters the national association higher education teachers wanted full congressional inquiry into what had happened government education funds said the universities were strapped for cash and that the association suspected the junior partner the coalition government the liberal front party pfl using education funds for projects which had helped their candidates elections the pfl holds the education ministry hardly any sectors the economy are proving immune the current labour unrest caused the return high inflation officially pegged pct for january february other possible strikes looming include stoppages oil industry workers and social security workers reuter 
earn	asta group inc unit loan purchase asta group inc said its pct owned liberty service corp affiliate has purchased about mln dlrs face value credit card installment receivables from major financial institution did not name for significant discount from face value said the portfolio consists mostly charged off loans the company also said expects realize profit about dlrs its pct interest the briarcliff manor condominium project new york with about dlrs the profit being reflected the year ending september reuter 
earn	arden international aiki qtr dec net oper shr one two cts oper net revs year oper shr four cts nine cts oper net revs avg shrs note full name arden international kitchens inc more 
acq	twa twa sells position usair trans world airlines inc sold four mln shares held usair group inc wall street sources said the sources said the buyers are believed group institutions bear stearns handled the trade crossed the four mln shares off bear stearns would not comment buyers sellers usair and twa had immediate comment usair later said did not buy the stock company spokesman would not comment further twa earlier this month reported holding slightly more than four mln shares about pct usair had also proposed takeover usair which the time was negotiating its proposed merger with piedmont aviation inc march twa withdrew its bid saying did not intend seek control usair group acquire more its stock the time twa also said the filing with the securities and exchange commission that its chairman carl icahn the target sec probe alleged violations securities laws its filings with the sec twa said paid mln dlrs for its usair stock with this out the way indeed was bought institutions paves the way for better value for usair stock later said janney montgomery analyst louis marckesano twa sale its stock technically long that block was overhanging the market you didn know what was going happen said usair stock was trading off volume mln shares twa stock rose one reuter 
earn	combustion engineering csp sees qtr net off combustion engineering inc said expects first quarter earnings pct below the year ago mln dlrs mainly due financing costs resulting from the january acquisition accuray corp the company said has filed for offering four mln common shares and mln dlrs subordinated debentures due with proceeds used refinance the short term bank debt incurred for the accuray acquisition finance other costs the transaction and for general corporate purposes combustion said shares will sold the and the remainder overseas combustion paid about mln dlrs for accuray maker computer based measurement and control systems used pulp and paper mills the company said expects release first quarter results the third week april combustion said expects further restructuring core businesses particularly lummus crest this year through staff reductions downsizings and the consolidation facilities combustion said the restructuring lummus crest expected substantially reduce but not eliminate this year losses the engineering and construction segment but said improvement lummus crest expected approximately offset number factors including somewhat lower level earnings the power generation segment than financing costs the accuray acquisition costs associated with integrating accuray technology and operations and delays waste energy projects reuter 
earn	arden international aiki larkville note period ended december earnings exclude losses from discontinued operations dlrs one share dlrs three cts share for the year earnings exclude gains from tax loss carryforwards dlrs one share dlrs two cts share the quarter and dlrs one share dlrs four cts share for the year reuter 
trade	treasury baker says exchange rate changes will reduce trade deficit this year 
acq	gateway sporting buys innovative dental gateway sporting goods said acquired all the shares stock innovative dental services inc for undisclosed amount cash gateway said the acquired company has contracts with dentists locations reuter 
acq	cyclops corp reforms board after dixons group fails get majority cyclops stock 
earn	pan atlantic inc pnre qtr net oper shr cts dlrs oper net year oper shr cts cts oper net note net excludes realized investment loss dlrs gain dlrs quarter and gains dlrs dlrs year year net excludes tax credit dlrs reuter 
earn	quaker chemical corp qchm sets quarterly qtly div cts cts prior pay april record april reuter 
earn	middle south msu consider dividend middle south utilities inc will not consider payment common stock dividend until there another ruling mississippi supreme court order rolling back rates the company mississippi power and light subsidiary chairman edwin lupberger said told security analysts middle south was close recommending resumption the common stock dividend when the mississippi court ordered the rate rollback following the order noted the unit cancelled planned sale preferred stock middle south has petitioned the court for rehearing stay the order while being appealed reuter 
acq	belgium plans outlaw insider trading belgian finance ministry spokesman said new rules planned insider trading would enable offenders fined and imprisoned for year and compelled forfeit gains the new rules require parliamentary approval and government sources said was unclear when they would come into force insider trading currently not offence this country the cabinet approved separate bill that analysts said includes provisions make more difficult the build major new stakes belgian companies the bill would make obligatory the declaration major stakes companies quoted the bourse with own resources more than mln francs the minister for economic affairs would need informed advance deals under which foreign interests planned buy new stake more than ten pct the voting shares large belgian company increase existing stake more than pct reuter 
acq	owens corning fiberglas ocf sells foam unit owens corning fiberglas corp said sold its controlling interest its french foam insulation producing subsidiary lafarege corp laf subsidiary owens corning said sold its interest sentuc porxpan for undisclosed price reuter 
earn	shoe inc qtr shr cts cts 
trade	treasury baker outlines trade bill criticisms treasury secretary james baker said that some the trade bills proposed congress conflict significantly with certain basic principles the reagan administration considers critical baker told senate committee that the administration would resist such measures general import surcharge sector specific protection such import quotas for individual products mandatory retaliation and limits presidential discretion negotiating more open markets abroad and other trade steps reuter 
earn	shoe corp usr qtr jan net shr cts cts net mln mln sales mln mln avg shrs mln mln year shr cts dlrs net mln mln sales billion billion avg shrs mln mln note current year net both periods includes gain five cts shr from sale just for kids and giggletree mail order catalogs and charges cts shr from writedowns assets related the closing linens and domestics stores and leased departments and leased shoe departments year net includes lifo inventory charges six cts shr two cts shr reuter 
earn	vertex industries inc vetx qtr jan net oper shr loss three cts loss four cts oper loss loss revs six mths oper shr loss two cts loss two cts oper loss loss revs note current periods exclude net gain dlrs from termination retirement plan for salaried employees also excludes gain dlrs from current qtr and gain dlrs six mths from benefit tax loss carryforwards company went public september reuter 
acq	cyclops cyl says dixons appointees resign cyclops corp said the three members its board appointed last week dixons group plc had resigned and that named three cyclops executives replace them cyclops said the moves followed the announcement earlier today dixons that received only pct cyclops outstanding common stock under extended tender offer that expired yesterday dixons initially ended its dlr share tender offer march after receiving pct cyclops shares however the securities and exchange commission last friday pressed dixons reopen the offer because the based company had dropped condition that least pct cyclops stock tendered the close the offer dixons then extended the offer until yesterday and earlier today indicated that substantial number tendered cyclops shares had been withdrawn leaving with only shares just over pct the roughly mln cyclops shares outstanding dixons said today that purchased the tendered shares which when combined with the shares already holds gives pct stake cyclops cyclops said its reconstituted board includes the three newly named directors and five outside directors all whom were the board prior dixons tender offer the three cyclops directors were replaced dixons appointees march under agreement reached between the two companies reuter 
crude	ecuador negotiates with nigeria for lending oil earthquake stricken ecuador negotiating with nigeria have the african country lend barrels per day bpd crude for export deputy energy minister fernando santos alvite told reuters said ecuador was negotiating shipments schedule and the terms repaying the loan ecuador has suspended crude exports for about five months until repairs pipeline ruputured march five tremor santos alvite added ecuador finalizing details for program under which venezuela would temporarily lend the country bpd for export reuter 
earn	northern states power nsp votes quarterly qtly div cts cts prior qtr pay april record april reuter 
earn	summit tax exempt bond fund sua sets payout qtrly div cts cts prior pay aug record april one reuter 
trade	senate trade leader concerned about canada the chairman the senate committee with jurisdiction over trade said was concerned about resolution bilateral trade negotiations adopted the canadian house commons last week the resolution supports negotiation bilateral trading agreement with the united states while protecting canadian political sovereignty social programs agricultural marketing systems the auto industry and canada cultural identity senate finance committee chairman lloyd bentsen said the resolution may jeopardize the viability the proposed free trade agreement between the two countries which are each other largest trading partners need truly free trade agreement which means both countries have work toward deal that mutually beneficial and comprehensive large agreement the texas democrat said statement not question canada right protect its political sovereignty cultural identity however these phrases mean the government canada means take important economic issues off the table these negotiations deeply concerned added bentsen said canada restricts trade different ways while the united states uses only six trade restriction methods said canada proposes agreement where both countries get rid six methods trade restriction would not fair and might not win senate approval deeply concerned that when the president visits prime minister brian mulroney next month will presented with this kind argument and hope makes clear did when was canada that only mutually beneficial agreement will successful bentsen said reagan and mulroney are scheduled meet april ottawa bentsen urged mulroney withdraw proposal that would ban imports independently produced films into canada non canadians which the senator called protectionist measure reuter 
money-fx	baker says willing cooperate stabilize exchange rates 
money-fx	baker says wants stabilize exchange rates treasury secretary james baker said the united states and other nations were willing cooperate stabilize foreign exchange rates the levels that existed the time international agreement last month our position with respect the dollar goes back the paris agreement that the currencies were within ranges broadly consistent with underlying economic conditions baker told senate committee baker continued said further that and others are willing cooperate closely foster stability exchange rates around those levels referred february agreement six leading industrial nations cooperate monetary matters baker refused answer question whether japan and germany had done enough stimulate their domestic economies for the united states support the dollar will not comment because the foreign exchange market reads more less than intended statements baker said baker said that the other signatories recognized that they must carry their share the load correcting external imbalances that have hindered the world economy cited news reports that germany would increase proposed tax cut for about five billion marks stimulate domestic growth japan also agreed consider stimulative measures after the japanese budget was made final baker said those nations were stimulating their economies manner consistent with gains against inflation reuter 
acq	first federal delaware agreement extended first federal savings bank delaware said its agreement negotiate exclusively for its sale with oxford financial group has been extended until april from march the company said the final stages talks with oxford over the terms the proposed acquisition under nonbinding letter intent signed june oxford would pay dlrs per first federal share subject first federal shareholder approval reuter 
acq	edelman group plan buy morse shoe mrs group led new york investor asher edelman said morse shoe inc agreed provide confidential company information and that his group would make offer buy morse only friendly negotiated deal the group also said filing with the securities and exchange commission that its members would not without morse approval buy offer buy any company securities giving the group pct more stake the company edelman and his group said his terms held until the earlier days from march the date which morse announces definite agreement for its sale the same time the edelman group said cut its stake morse pct from pct reuter 
earn	john labatt sees good fourth quarter year john labatt ltd anticipates good fourth quarter and new peak sales and earnings for the fiscal year ending april president peter widdrington told financial analysts would not make any specific forecast but said was optimistic for further growth fiscal the company brewing and food products operations labatt earnings rose mln dlrs the nine months ended january from year earlier mln dlrs revenue for the nine months rose billion dlrs from billion dlrs widdrington said labatt three year business plan now being updated targets total sales about six billion dlrs including billion dlrs the labatt canada leading brewer has expanded the food products industry acquisitions widdrington said labatt strategy for expansion stemmed partly from its strong market position the canadian food and beverage industry the share revenues for this year will about pct rising pct fiscal said reuter 
acq	husky hyo sets meeting approve merger husky oil ltd said the board called special meeting for april for shareholders vote its previously announced agreement for hong kong based hutchison whampoa ltd and hongkong electric holdings ltd acquire pct interest the company the acquisition requires two thirds approval husky shareholders other than nova alberta corp which owns pct interest husky approved shareholders the amalgamation will take effect april husky said following completion oil term holdings ltd new company controlled nova will hold pct stake husky hutchison and hongkong will indirectly hold pct victor will own nine pct and canadian imperial bank commerce will have five pct interest husky said special committee five outside directors recommended the board approve the transaction after determining that the deal was the best interests husky and fair shareholders husky previously announced shareholders will have the option receive canadian dlrs cash for each common dlrs cash and one common share oil term investment ltd which will controlled nova through oil term holdings and own insterest husky shareholders will restricted the right receive canadian dlrs cash per share which will paid funds the company said reuter 
earn	washington gas light wgl hikes payout qtly div cts cts prior pay may one record april reuter 
earn	ferc decision could cut columbia gas net columbia gas system inc said federal energy regulatory commission decision today natural gas cost recovery could reduce its earnings about dlrs share the company said this could bring earnings for below columbia stated goal earning less than its dlrs per share dividend earned dlrs share said management expects recommend the board that the dividend rate maintained columbia gas said the impact the ferc decision may offset one time accounting change rleated future tax liabilities under the new federal tax laws the company recorded these liabilities based older higher tax rates but action being considered the financial accounting standards board could result gain about dlrs share explained thus there good chance that will attain our earnings goal although not the way originally planned columbia gas said columbia gas said the ferc decision would limit the recovery certain gas contract costs columbia gas transmission corp the company principal pipeline subsidiary said the decision specifically excluded from purchased gas adjustment filing the pipeline costs related amortizing payments made producers reform gas purchase contracts these were excluded the grounds the subsidiary failed sufficiently support cost recovery the company said its subsidiary not precluded from making new filing provide sufficient support reuter 
earn	puerto rican cement prn sets payout qtly div five cts five cts prior pay may record april note company said pct dividend payment may withheld accordance with puerto rico tax law reuter 
earn	wesco financial corp wsc qtr net shr cts dlrs net revs mln mln year shr dlrs dlrs net revs mln mln note current qtr figures include securities gain mln dlrs cts per share gain mln dlrs dlrs per share current year figures include security gain mln dlrs cts per share gain mln dlrs dlrs per share reuter 
acq	helm sells additional shares bamberger helm resources inc said that pursuant the exercise overallotment option underwriters bamberger polymers inc initial public offering has sold another bamberger shares and reduced its ownership bamberger pct from pct date helm has sold bamberger for mln dlrs bamberger has sold total shares and received net proceeds about mln dlrs since the february offering reuter 
earn	ampal american israel corp ais year net shr cts cts net revs mln mln note includes extraordinary income dlrs three cts shr restated reuter 
earn	snc group expects higher earnings sales snc group inc expects earnings rise dlrs share from cts share last year with revenues climbing about mln dlrs from last year mln dlrs president alex taylor said before the annual meeting snc canada second biggest engineering and construction group became the country largest ammunition manufacturer last year with its mln dlr acquisition canadian arsenals ltd from the canadian government the impact that and several smaller deals will felt fully taylor said defense preoducts and other manufacturing operations will account for more than half snc total revenues helping counterbalance the more cyclical engineering and construction acivities taylor said last year snc earned mln dlrs including small extraordinary gain total manufacturing activities will generate about mln dlrs revenues and engineering and construction about mln dlrs said adding that defense products operations should major contributor earnings reuter 
acq	mine safety mnes sells south africa unit mine safety appliances said will sell through its german subsidiary auergesellschaft its controlling interest msa africa pty ltd johannesburg south africa boart international wholly owned subsidiary anglo american corp south africa ltd angl the company said the terms the sale were not disclosed the company will operate boart msa pty ltd said short president the company said sold the unit because slumping profits due south africa economic decline reuter 
earn	medar inc mdxr qtr dec loss shr loss cts loss nine cts net loss loss sales mln two mln nine mths ended dec shr profit two cts loss four cts net profit loss sales mln mln avg shrs year ended march shr loss cts profit cts net loss profit sales mln mln avg shrs note medar changed end fiscal year december more phase with business cycle its major customers reuter 
earn	medar mdxr changes fiscal year medar inc said changed the end its fiscal year december from march the company reporting its annual results said the change was made bring its financial reporting phase with the order cycle its major customers medar earlier said lost dlrs its final quarter compared loss dlrs the same quarter reuter 
acq	securities industry assn backs restraints takeovers insider trading 
earn	chemfix technologies inc cfix qtr net ended feb shr profit one loss four cts net profit loss revs six mths shr profit three cts loss eight cts net profit loss revs reuter 
acq	allis chalmers sells swiss unit allis chalmers corp said has sold its elex unit zurich switzerland private investors for undisclosed amount the company said elex produces electrostatic precipitators used air pollution control reuter 
earn	florida employers insurance flae year shr cts nine cts net note net includes loss dlrs for extraordinary item reuter 
earn	nike inc nike qtr feb net shr cts cts net mln revs mln mln nine mths shr cts dlrs net mln mln revs mln mln reuter 
earn	zenith national insurance znat qtly dividend shr cts cts prior qtr pay may record april note full name zenith national insurance corp reuter 
earn	redkin laboratories inc rdkn qtly dividend shr five cts five cts prior qtr pay april record april reuter 
earn	coopervision inc eye qtly dividend shr cts cts prior qtr pay april record april reuter 
acq	securities group backs insider restraints the securities industry association backed variety restraints insider trading and hostile corporate takeovers and asked congress define insider trading law the industry trade association called securities firms take steps protect sensitive corporate secrets guard against illegal trading employees the association also backed broad federal restrictions variety tactics used hostile corporate takeovers but said investment banking firms should allowed continue engage both arbitrage and merger and acquisition activities long those functions were kept separate the sia report adopted yesterday its board directors backed higher enforcement budget for the federal securities and exchange commission and called stock exchanges beef their supervision member brokerages the report said securities firms should more rigorous restricting sensitive information need know basis said firms should train their employees understand the need for confidentiality market sensitive information said legislation define insider trading should avoid expanding current law way that would impede the market said insider trading definition should exempt securities firm from liability for law violations its employees unless the firm had participated was aware the wrongdoing the mergers and acquisitions area the association advocated ban greenmail payments poison pill takeover protection plans without prior shareholder approval said group individual buying company stock should required file public disclosure statement before acquiring more than five pct the company shares under current law disclosure may made late ten days after exceeding the five pct limit the association said all purchases exceeding pct company voting stock shouls made only through tender offer open all shareholders under current law there limit open market purchases the group said the federal government should preempt state regulation defensive takeover tactics the group said all tender offers should remain open for least calendar days the current requirement expressed business days said called lockup devices which securities are issued friendly investor seal takeover deal fend off unfriendly predator should limited pct the target company total common stock association president edward brien said the group acted out concern over the hoc restructuring corporate america wall street and investor fears about insider trading and fairness the marketplace reuter 
earn	pulitzer publishing pltzc declares qtly div qtly div cts cts prior pay may record april reuter 
earn	federal fff sets regular payout qtly cts cts prior payable june record may reuter 
earn	southwestern bell sbc sees earnings dilution southwestern bell corp said that its planned acquisitions cellular telephone and paging systems including those metromedia inc will result some initial earnings dilution and increase debt ratio letter shareholders its annual report the regional bell company did not indicate the degree earnings dilution expects from the acquisitions which total some billion dlrs however the company said the rise its debt ratio will temporary and will leave its debt level within acceptable range its yearend financial statement southwestern bell listed debt equity ratio pct down slightly from pct the company earned billion dlrs dlrs share compared with mln dlrs dlrs share revenues dipped billion dlrs from billion dlrs southwestern bell said expects the new tax law have negative impact its cash flow due mainly the loss investment tax credits mid year however the company said reduced corporate tax rate should have positive impact its net income and cash flow addition the company said projecting pct gain customer telephone lines and three four pct increase long distance calling volumes southwestern bell said capital expenditures will lower that the billion dlrs spent year which expenditures were held below budget reuter 
acq	lear siegler holding corp plans divest aerospace subsidiary 
earn	varity corp year shr loss cts loss cts 
earn	nordson ndsn sets for split nordson corp said its board declared for stock split paid pct stock dividend april shareholders record april result the number shares outstanding will increase mln from mln the maker industrial equipment said reuter 
trade	baldrige sees trade deficit starting decline feb march data 
trade	baldrige sees trade gap dropping soon commerce secretary malcolm baldrige said the trade deficit should start decline soon possibly the figures for february march could see the trade deficit start down february march baldrige said appearance before the senate governmental affairs committee predicted the trade deficit which was billion dlrs would decline billion dlrs and baldrige said was making his prediction without having seen the february trade figures but said that the volume imports has dropped beginning with the fourth quarter and will continue drop this quarter the eventual turnaround the monthly trade figures will reflect the impact the decline the dollar baldrige said ealier treasury secretary james baker told the committee that the trade deficit had levelled off but baldrige said was more optimistic adding think turned the corner february reuter 
ship	normal work resumes new zealand ports normal work has resumed new zealand ports negotiations between harbour board workers and employers continue wellington harbour board workers union secretary ross wilson told reporters talks late yesterday ended with agreement take unresolved issues before industrial conciliator wilson said the only remaining issue the length the union award the dispute originally was about wage rates and the form industry negotiations cook strait ferry sailings resumed after marlborough harbour board workers returned work this morning ending their industrial action day early the waterside workers federation which struck for most last week and held more than one mln tonnes shipping ports meets monday and tuesday conciliation with the waterfront employers association union secretary sam jennings said got two days talks not all cleaned then don know what will happen reuter 
earn	varity corp vat qtr jan loss shr loss cts loss one net loss profit revs mln mln year shr loss cts loss cts net loss profit revs billion billion note current loss includes reorganization charge mln dlrs ago reorganization charge mln dlrs shr after preferred divs dlrs reuter 
earn	indiana federal ifsl qtr net net year net note company full name indiana federal savings and loan association per share information not available bank went public february reuter 
acq	lear siegler holding divest aerospace unit forstmann little and said lear siegler holding corp plans divest its aerospace group subsidiary comprised the defense electronics group and the components group divestitures had been expected since lear siegler diversified conglomerate was acquired last december billion dlr leveraged buyout the wall street firm forstmann little lear aerospace group revenues for fiscal are expected about mln dlrs said forstmann the defense electronics group designs and manufactures weapons management systems flight control systems remotely piloted vehicles and reference and navigation systems mainly for military markets the defense group subsidiaries are astronics corp which based santa monica calif and employs people instrument and avionic systems corp based grand rapids mich and employs people international corp based stamford conn and employs people and development sciences corp based ontario calif and employs people the components group manufactures pumps bearings and other industrial components well nuclear control drive rod mechanisms and valves the group subsidiaries include power equipment corp based cleveland which employs people energy products corp based santa ana calif which employs people romek corp based elyria ohio which employs people and transport dynamics santa ana which employs people overall lear aerospace group eight subsidiaries employs people lear siegler said plans retain management services corp engaged aircraft maintenance modification for various department defense agencies morgan stanley and will act financial advsiors for the group divestitures last month lear siegler said planned sell its smith and wesson handgun business starcraft recreational products ltd the peerless truck trailer operations and other units part its restructuring plans lear apparently will retain its piper aircraft unit reuter 
acq	rubbermaid rbd completes acquisitions rubbermaid inc said completed the previously announced acquisitions viking brush ltd canadian maker brushes brooms and other cleaning aids and the little tikes manufacturing licensee ireland terms were not disclosed the acquisition the tikes licensee part the expansion little tikes the european toy market reuter 
earn	crystal oil cor qtr loss oper shr loss cts loss cts oper net loss loss mln revs mln year oper shr loss dlrs loss dlrs oper net loss mln loss mln revs mln mln note oper net excludes losses from discontinued operations dlrs dlrs for qtr and mln dlrs mln dlrs for year reuter 
earn	chemfix technologies cfix qtr feb net shr profit one loss four cts net profit loss rev six months shr profit three cts loss eight cts net profit loss rev mln mln note company full name chemfix technologies inc reuter 
earn	federal mogul corp fmo sets regular dividend qtly div cts cts prior pay june record may reuter 
earn	iowa resources inc ior declares qtly dividend qtly div cts cts prior pay may record april reuter 
earn	fiduciary trust five for one stock split fiduciary trust international said its shareholders the annual meeting approved five for one stock split effective may holders record april the company said the split would increase the number authorized common shares from shares issued addition the company said authorized another shares but would not issue them this time the company also changed the stock par value from dlrs share dlrs share explained transferred dlrs from its undivided profits account its capital account order raise the new par value from two dlrs under the five for one split dlrs reuter 
acq	modulaire modx buys boise homes property modulaire industries said acquired the design library and manufacturing rights privately owned boise homes for undisclosed amount cash boise homes sold commercial and residential prefabricated structures modulaire said reuter 
earn	quinta motor inns inc lqm qtr feb net shr profit cts loss nine cts net profit loss revs mln mln nine mths shr profit cts profit cts net profit profit revs mln mln avg shrs mln mln note current net includes gain sale inns dlrs for qtr and dlrs for nine mths reuter 
acq	kansas city southern industries says eager purchase southern pacific railroad 
trade	chipmakers urge sanctions against japan the semiconductor industry association urged the government impose trade sanctions against japan for violating the japan semiconductor trade agreement letter treasury secretary james baker the group said sanctions should imposed against japanese chipmakers april and should continue until the united states satisfied that there full compliance with the agreement the group said action japan cut back semiconductor exports not what required america interests require that agreements honored and that industries not bear the burden for the persistent unwillingness inability the government japan deliver its commitments the trade group said the white house economic policy council expected discuss possible sanctions against japan meeting scheduled for thursday the trade group said japan has not lived the terms the agreement last year which was aimed ending japanese dumping semiconductors and opening japanese markets foreign based manufacturers reuter 
acq	fed approves chemical bank acquisition texas commerce bancshares 
acq	kansas city ksu ready buy southern pacific kansas city southern industries inc said ready promptly purchase the southern pacific transportation from santa southern pacific corp sfx the interstate commerce commission rejects sante attempt reopen the merger southern and the atchison tokepa and santa railway filing with the icc late today the company outlined four conditions its offer acquire southern pacific among the conditions are that santa enter into agreement indemnify kansas city for any contigent liabilites southern pacific existing the closing date and that the financial condition southern remain largely unchanged from today onward are willing even eager make fair market value offer cash for the southern pacific said kansas city southern president and chief executive officer landon rowland this offer disproves the constant derogation the sourthern pacific sfsp management best exemplified sfsp chief executive john schmidt comment icc hearings that the southern pacific was bankrupt said rowland said that merging southern with kansas city will achieve the benefits end end merger while preseving the independece the southern pacific versus its existing prime competitor santa kansas said that southern management had estimated the value the railroad the range mln dlrs billion dlrs said that morgan stanley and inc and salomon brothers inc hired advise southern and santa their merger appraised southern worth between mln dlrs and mln dlrs less than southern own internal valuations kanasa city southern said will make offer for southern after its books records and properties are examined once that examination has been completed and even the absence willingnes sfsp negotiate kcsi will make offer writing said the company kansas also said argued the icc filing that santa had not met the legal requirements justifying the commission reconsideration the proposed merger santa and southern pacific two railroads that said basically parallel each other throughout their routes icc voted four one last summer reject the merger inherently anticompetitive kansas said santa petitioning for reconsideration now argues that the trackage agreements with the union pacific the denver and rio grande western and other railroads adds the value the merger reuter 
acq	gencorp bid could raised group says investor group said might willing raise its dlr per share offer for gencorp but far the company has turned down requests for meeting might able see some additional value could meet and get more financial data said joel reed speaking for the investor group reed told reuters that gencorp chairman william reynolds was not interested sitting down and talking with this time cyril wagner sought the meeting recent telephone conversation with reynolds reed said wagner and brown along with afg industries inc afg recently launched surprise tender offer for gencorp the offer worth billion dlrs reed said under the circumstances the dlr per share tender offer which expires april fair offer gencorp gained today the nyse reed outlined plan reshape gencorp the event his group wins control said aerospace soft drink bottling and entertainment units are potential divestiture candidates said the tire business which the group wants keep may more viable merged with another tire company one option would try grow the tire business through combination acquisition reed said said believes such merger could create stronger force the tire industry gary miller chief financial officer afg said his company has record acquiring mature businesses and boosting productivity automation and incentives tied profit sharing have been used with success said the case gencorp rko general broadcasting stations reed said the plan the partners step into gencorp shoes and proceed with plans sell the stations the partners said they succed acquiring gencorp they intend consummate sale wor new york mca inc mca gencorp last year entered into agreement sell the station for mln dlrs the partners also said they acquire gencorp they would also proceed with the proposed sale khj los angeles walt disney dis rko general would receive mln dlrs and fidelilty television which challenged the license would get about mln dlrs the partners also said the federal communications commission established expedited schedule for receiving comments their request for special temporary authorization proposed trust arrangements while the fcc considers formal application for transfer the broadcast unit reed said was pleased with the expedited schedule because provides time for the agency act the request before the expiration the tender offer said was the aim the partners move quickly possible eliminate uncertainty surrounding the stations asked about criticism the takeover attempt voiced some municipal officials akron ohio where gencorp headquartered reed said the plan the partners offers long term growth for ohio noted that the aerospace business slated for divestiture under the partners plan located california our program one that overall would provide the greatest long term growth for all segments said reuter 
acq	fed approves chemical new york chl merger chemical new york corp and texas bancshares inc tcb said the federal reserve board approved their proposed billion dlr merger the companies also said the securities and exchange commission declared effective march the registration statement covering the securities chemical will issue texas bancshares shareholders part the merger the companies said they expect complete the merger which will create bank with billion dlrs assets the end the second quarter the merger still requires shareholder approval reuter 
earn	varity vat sees improved results after qtr varity corp earlier reporting full year loss against prior year profit said improvement expected the balance fiscal new products fill the inventory pipeline cutbacks operating costs are realized and its newly acquired dayton walther business fully integrated however operating results are likely remain under pressure the first quarter ending april said varity earlier reported loss for fiscal ended january mln dlrs compared year earlier profit mln dlrs varity said continued deterioration major markets weakening dollar and unforeseen delays launching major new lines tractors contributed the full year loss industry demand for farm machinery continued erode during the latest fiscal year with worldwide industry retail sales tractors sliding more than pct below last year depressed levels the company said however varity increased its share the global tractor market more than one pct pct said the combined impact costly sales incentives and foreign exchange adjustments margins was substantial varity said reuter 
acq	campbell resources cch ups meston lake stake campbell resources inc said raised its voting stake meston lake resources inc about pct from pct through acquisition another meston lake shares its previously reported takeover bid campbell its bid that expired march offered cts cash and legended campbell shares for each meston share the legended shares are not tradeable for one year said the mln meston shares not tendered the offer were held about stockholders including quebec societe developpement baie james with mln shares reuter 
acq	metrobanc mtbc shareholders approve merger metrobanc federal savings bank said its shareholders approved the previously announced merger with comerica inc cmca bank holding company metrobanc said the merger still subject regulatory approval reuter 
earn	plains resources inc plns year loss oper shr loss cts profit three cts oper net loss profit revs mln note year ago oper net excludes tax credit dlrs reuter 
earn	medical inc gvmi qtr loss shr loss cts loss cts net loss loss rev nil avg shares year shr loss cts loss dlrs net loss loss rev nil avg shares reuter 
trade	chipmakers urge sanctions against japan the semiconductor industry association urged the government impose trade sanctions against japan for violating the japan semiconductor trade agreement letter treasury secretary james baker the group said sanctions should imposed against japanese chipmakers april and continue until the satisfied there full compliance with the agreement the group said action japan cut back semiconductor exports not what required america interests require that agreements honored and that industries not bear the burden for the persistent unwillingness inability the government japan deliver its commitments the trade group said the white house economic policy council expected discuss possible sanctions against japan meeting scheduled for thursday the trade group said japan has not lived the terms the agreement last year which was aimed ending japanese dumping semiconductors and opening japanese markets foreign based manufacturers reuter 
acq	clabir clg ambrit abi call off merger clabir corp and ambrit corp said they called off their plans for clabir buy the pct voting interest ambrit that does not already own the companies said they agreed not pursue the merger because several actions recently taken ambrit would mean substantial delays completing the deal they said they might revive merger plans later date seek other ways for clabir increase its holdings ambrit reuter 
acq	daily telegraph deal with news international hollinger inc said pct owned the daily telegraph plc london agreed form joint venture printing company manchester england with news international plc financial terms were undisclosed said the deal involved news international acquisition pct stake the telegraph trafford park printing ltd subsidiary the joint company will continue print northern editions the telegraph and sunday telegraph with spare capacity used print the sun and news the world the arrangement will significantly cut telegraph costs hollinger said reuter 
earn	friedman industries inc frd quarterly div qtly div seven cts seven cts prior pay june one record may four reuter 
crude	latin oil producers meet caracas five regional oil producing nations will gather caracas tommorrow for two day meeting expected center ways combat proposals for tax imported petroleum the venezuela ministry energy and mines said oil ministers from mexico trinidad and tobago ecuador and venezuela will hand for the fifth meeting the informal group latin american and caribbean petroleum exporters formed said colombia will also attend for the first time observer nation the ministry said energy and mines minister arturo hernandez grisanti said the conference has set agenda but one entire session friday will devoted proposals for tax imported oil two the group members venezuela and mexico are second and third largest foreign suppliers oil the united states respectively following canada venezuela concerned about the effect such tax would have its exports undertook diplomatic push coordinate strategy against such measures february canadian energy minister marcel masse was invited caracas for talks with hernandez proposals for oil import tax reuter 
interest	australian reserve bank cuts rediscount rate the reserve bank australia this morning cut the rediscount rate from pct pct the rediscount the rate which the bank buys back treasury notes market sources said the cut reflected the recent easing market interest rates they also pointed yesterday treasury note tender where the mln dlrs week notes went average yield pct down from last week the mln dlrs week notes went average from last week reuter 
acq	genova gnva signs definitive merger agreement genova inc said signed definitive agreement for the previously announced merger with genova products inc under the agreement genova products will pay dlrs share for the pct genova outstanding common shares does not already own the company said plans complete the transaction which requires shareholder approval the end march reuter 
earn	penobscot shoe pso qtr feb net shr cts six cts net revs note current qtr net includes gain dlrs mostly from the sale securities and property reuter 
money-fx	exchange rate bill clears house panel the house banking committee adopted legislation direct the treasury begin negotiations aimed seeking regular adjustment exchange rates countries such taiwan and south korea whose currencies are pegged the value the dollar the measure was adopted part wide ranging trade bill that will considered the full house april before moves onto the senate the bill many provisions also set priority for the the negotiation stable exchange rates and urge government intervention necessary offset fluctuations reuter 
earn	consolidate capital trust ciots qtr net shr cts nil net mln avg shrs year shr dlrs cts net mln avg shrs note net after depreciation full name consolidated captial income opportunity trust reuter 
money-fx	treasury baker says stands paris pact foster stable currencies 
money-fx	baker says stands paris currency agreement treasury secretary james baker said stood the paris agreement among leading industrial nations foster exchange rate stability around current levels would refer you the paris agreement which was recognition the currencies were within ranges broadly consistent with economic fundamentals baker told the cable news network interview were quite satisfied with the agreement paris otherwise would not have been party too said baker also noted the nations agreed the accord operate foster greater exchange rate stability around those levels refused comment directly the current yen dollar rate but said flatly that foreign exchange markets recently tended draw unwarranted inferences from what say baker was quoted british television over the weekend saying has target for the currency statement that triggered this week renewed decline the dollar think the paris agreement represents evidence that international economic policy ordination alive and well baker said the treasury secretary stressed however was very important for the main surplus countries grow fast they could consistent with low inflation resolve trade imbalances added that federal reserve board chairman paul volcker has also been very outspoken suggesting main trading partners grow fast they can baker noted that the curve the delayed beneficial effect weakening currency that country trade balance takes months work its way through the trade deficit and now months since the plaza agreement lower the dollar value also said improvements the trade deficit should come from other sources besides the exchange rate and pointed out the administration package improve competitiveness was now before congress reuter 
trade	baker sees billion dlr drop trade gap treasury secretary james baker said expected the trade deficit fall billion billion dlrs commenting the deficit during interview cable news network baker said think you going see billion dlr reduction this year the deficit was billion dlrs baker noted that the benefits weaker currency take months affect the trade balance and said now months since the plaza agreement lower the dollar value reuter 
money-fx	sumita says major nations will continue cooperate stabilize currencies 
trade	links agricultural trade talks other reform the european community considers talks agricultural trade reform inseperable from talks other trade reform the present gatt round willy clercq external relations commissioner the said told reporters here the would not bow pressure reach early seperate agreement agricultural trade said the wanted stick the four year schedule agreed members the general agreement tariffs and trade gatt punta del este uruguay last year that included agricultural trade liberalisation for the first time the lengthy program negotiate the gatt other trade issues being discussed the current gatt round include reform trade merchandise and services clercq his way china after attending two day conference for gatt trade ministers held new zealand several those ministers criticised the for what they saw restrictive agricultural trade practices and called for urgent reforms trade representative clayton yeutter also said was important agreement agricultural trade reform was reached early possible but clercq said the gatt program had been reached after long and hard negotiations and the did not want changes just want stick the agreement which was reached and that was very clear that the new round would one undertaking global negotiation with two tracks fast track slow track has just one track the track and that all clercq said you start selecting priorities your priority not priority say that agriculture urgent but not the only urgent thing said said the punte del este agreement had taken eight months prepare and eight days negotiations reuter 
earn	linde turnover first two months engineering group linde ling world group turnover rose mln marks the first two months pct more than the same period management board chairman hans meinhardt said but world group incoming orders fell pct mln marks meinhardt told the annual news conference excluding exchange rate movements world group turnover rose pct and incoming orders increased pct linde expects satisfactory results and increased sales this year but meinhardt gave detailed forecast domestic group net profit rose mln marks from mln meinhardt said domestic group turnover rose pct mln marks the first two months against the same period last year but incoming orders fell pct mln linde will ask shareholders the annual meeting may raise authorised share capital maximum mln marks nominal for the issue share warrant bonds with maximum issue volume mln marks linde authorised share capital currently stands nominal mln marks meinhardt said the authorisation would give the company the necessary flexibility case linde needed additional funds for acquisitions declined give further details while world group turnover rose pct billion marks incoming orders were barely changed billion marks meinhardt said without the sharp appreciation the mark against major trading partner currencies incoming orders would have been four pct above the prior year level world group turnover heavy plant construction rose pct mln marks but incoming orders dropped pct mln marks the wake the dollar and oil price plunge world sales for technical gases rose pct billion marks and incoming orders gained pct billion marks meinhardt said linde strengthened its market position the refrigeration sector with particularly strong turnover and order gains austria italy and norway world group sales the sector fell pct mln marks but incoming orders rose pct mln marks the fork lift truck and hydraulic sector saw world group sales rising pct billion marks and incoming orders gaining pct billion marks domestic group turnover rose pct billion marks and incoming orders increased pct billion marks the company was producing full capacity reuter 
earn	linde ling year domestic group net profit mln marks mln turnover billion marks billion incoming orders billion marks billion order book end december billion billion tax payments mln marks mln depreciation fixed assets mln marks mln new investment fixed assets mln mln dividend already announced marks dvfa earnings per share marks marks shareholders annual meeting may dividend date may world group turnover billion marks billion incoming orders billion marks billion new investment fixed assets mln marks mln world group profit figures given parent company net profits mln marks mln turnover billion marks billion reuter 
trade	trade surplus cut would benefit japan sumita bank japan governor satoshi sumita said japan national interest make greater efforts reduce its trade surplus told business executives the most important issues for the world economy are the correction international trade imbalances and solution the world debt problem this end japan and the must make medium and long term efforts alter economic structures which have expanded the trade gap between the two nations world economic growth and therefore expansion debtor countries export markets are needed solve the debt issue added reuter 
money-fx	miyazawa says major nations acting paris accord finance minister kiichi miyazawa said major nations are taking action stabilise exchange rates line with their agreement paris last month government sources said miyazawa told upper house session the six nations britain canada france japan the and west germany are abiding the paris accord the six agreed cooperate stabilise exchange rates around current levels miyazawa said wishes attend meeting seven major nations expected just before the imf world bank interim committee meeting washington starting april the sources quoted miyazawa saying japan trying prevent further rise the yen japan taking the matter seriously added asked the six nations had agreed stabilise the dollar about yen the rate prevailing the time the paris talks miyazawa declined give specific figures and said any mention specific rates would create unexpected situation reuter 
earn	hoechst world group pretax profit billion marks billion 
money-fx	bank france launches money market intervention tender official 
earn	hoechst hfag year year ended december world group pretax profit billion marks billion turnover billion marks billion world group turnover comprised domestic sales billion billion foreign sales billion billion parent pretax profit billion marks billion turnover billion billion parent turnover comprised domestic sales billion billion foreign sales billion billion parent investment fixed assets mln marks mln depreciation fixed assets mln marks mln investment new participations billion marks mln reuter 
acq	says will tender for remaining pct standard oil dlrs share cash 
acq	offer billion dlrs for standard shares british petroleum plc said intended make tender offer for the pct standard oil srd does not already own dlrs share cash for total billion the offer fully accepted the offer would made through its north america inc unit and was intended commence not later than april the offer would not conditional any minimum number shares being tendered said statement the dlr share price was based its own valuation well those its financial advisers took into account reviews both public and non public information standard closed new york last night dlrs down dlrs shares dropped the announcement from last night close about third the cash payable would met from own resources the remainder would come from new borrowings partly from banks under four year committed revolving credit facility and partly from new dlr commercial paper programme the company said was the course arranging these facilities chairman sir peter walters said that the group investment standard was its largest single asset full ownership would enable investment and operating decisions made without the limitations minority interest also believed the acquisition represented the optimum use its financial resources was confident oil prices were likely remain within range sufficient justify the investment walters added that also felt that due management changes standard could now operate successfully even lower oil price environment standard net assets end were billion dlrs and the year reported loss billion dlrs before tax and before extraordinary item mln dlrs analysts said that the move had come surprise one noted that was not immediately clear why the group should spend much money buying company already controlled could also have bought the remainder standard shares considerably cheaper had moved six months ago was also unclear what effect the tender would have the government recent announcement that intended dispose its remaining pct stake sometime the financial year analysts said analyst paul spedding brokers kleinwort grieveson noted that any effect the government sale its stake would depend the reaction the markets the deal would probably push gearing around pct from pct currently said however with the likelihood that oil prices would not repeat last year rapid drop the prospects for standard returning profitability this year and benefitting from its cash flow were good standard was high cost oil producer the analysts noted spedding noted that needed about dlrs barrel make money and about dlrs barrel revenue from production and its downstream activities would push comfortably into surplus initially took stake standard following the discovery oil alaska prudhoe bay had inadequate distribution facilities the while standard which was strong marketing and refining was short crude oil the analysts said that had promoted major management reorganisation standard the past year the probability that much the shake standard was now complete was one possible factor behind the timing the tender offer spedding said willingness take hard decisions such major balance sheet write offs and the sale assets had been well received the markets the lower costs that should now possible especially after the rationalisation the loss making minerals division should allow the benefits oil price recovery come straight through profits without being cut back other sectors reuter 
earn	hoechst raises profits lower sales hoechst hfag said statement increased its pretax profits despite fall turnover due lower foreign sales the lower sales were due the fall the dollar and other currencies against the mark other factors were pressure selling prices because sharp fall the prices crude oil and petrochemical raw materials and the sale polystyrene business the and netherlands world group pretax profit rose billion marks from billion with sales falling billion from billion within group turnover foreign sales fell billion marks from billion drop pct the statement made mention net profit figures hoechst will announce its dividend proposal april the first quarter this year sales were hit the cold weather the start the year the dollar continues present low levels sales will again below the previous year although volume terms they are unchanged from hoechst said sales paints and dyes fibres sheeting and information technology all rose but plant construction sales fell hoechst attributed its good results the performance the parent company other units west germany and american hoechst corp improved earnings the largely reflected the restructuring styrene and polystyrene activities roussel uclaf rucf and most domestic non consolidated partners did not perform well hoechst attributed the pct rise parent company pretax profits billion marks above all rise earnings from interest and holdings other companies and fall extraordinary costs the fall raw material prices was not enough compensate for the decline turnover due lower prices and currencies hoechst said the bulk the billion marks investment new projects from mln marks went the capital increase hoechst capital corp connection with the acquisition celanese corp celanese was merged with american hoechst february form hoechst celanese corp reuter 
interest	danish overnight money market rate cut pct from central bank 
earn	bhp net seen around mln dlrs for nine months australia largest company the broken hill pty ltd brkn bhp expected report net profit around mln mln dlrs tomorrow for the first nine months ended february share analysts polled reuters said this would well below the mln dlrs earned the first three quarters the full year ended may the group earned record mln dlrs the analysts estimated that the group would report third quarter net the region mln mln dlrs against mln year earlier and mln the second quarter bhp earnings the first half ended november amounted mln dlrs sharply down from mln year earlier the analysts predicted that bhp will report upturn petroleum earnings compared with the first quarter reflecting some improvement crude oil prices from the bass strait fields but these gains would offset lower mineral and steel earnings they said the mineral group has been hit lower coal prices and shipments japan while the steel division has been affected industrial and production problems the analysts noted that the third quarter normally bhp lowest earning period owing number seasonal factors and they predicted sharp rise fourth quarter net around mln dlrs one key factor the fourth quarter expected tax break some mln dlrs for the investment allowance capital expenditure the steel division they said they said they saw bhp full year earnings around mln mln dlrs they added that such decline from would surprise noting bhp has said that would difficult equal its record net profit reuter 
acq	units seek five billion dlr revolving credit support standard oil tender 
earn	lucas industries plc lucs halfyear ended jan shr interim div same pre tax profit mln stg mln net profit before minorities mln mln turnover mln mln trading profit mln stg mln related companies profit mln mln interest payable mln mln reorganisation and redundancy costs mln mln tax mln mln minorities mln mln extraordinary charges mln mln reuter 
acq	units seek five billion dlr revolving credit international and north america are seeking five billion dlr four year syndicated credit facility support british petroleum plc tender offer for the pct standard oil does not already own morgan guaranty trust new york said arranger the facility guaranteed british petroleum plc probably the largest credit facility ever arranged europe bond analysts said full terms will announced either later today tomorrow morning said earlier planned tender offer for the pct standard does not already own for dlrs share cash the financing being arranged morgan guaranty will take the form fully committed revolving credit announced earlier also arranging commercial paper program connection with the tender and part the revolver will used support that program the exact size the program has not been decided and the dealers have not yet been chosen the credit facility will also allow the borrower issue cash advances with maturities one three six months through tender panel which will comprised banks committed the facility despite the unprecedented size this euromarket facility morgan guaranty said that was being syndicated only among relationship banks result banks were being offered lead manager status mln dlrs lead management mln and manager mln although pricing many credit facilities has become extremely fine recent years because the keen competition win mandates morgan guaranty said banks would compensated fairly since this special purpose facility which must completed quickly with signing expected about days reuter 
earn	club mediterranee cmi year ended october parent company net profit mln francs mln dividend francs same including francs tax credit note company earlier reported consolidated net profit mln francs mln and consolidated attributable profit mln mln reuter 
money-fx	money market liquidity position expected flat the bank england said has forecast flat position the money market today among the main factors maturing assistance and take treasury bills will drain mln stg and rise note circulation mln stg but the outflow will offset mln stg exchequer transactions and bankers balances above target mln reuter 
trade	german february trade surplus billion marks jan surplus billion official 
acq	foreign firms hope join japan telecom company one two rival firms seeking enter japan international telecommunications market said will offer stake the company foreign firms president international telecom japan inc itj nobuo ito decline specify what share the firms would take but told reuters they would not participate its management itj and international digital communications planning inc idc which both cable and wireless plc cawl and pacific telesis group pac own pct stakes are set merge into new entity compete against kokusai denshin denwa ltd kdd the ministry posts and telecommunications has urged the two rival firms merge kdd would have only single competitor the ministry has also rejected foreign management japan law limits foreign ownership any new international telecommunications entrant pct and and pacific stakes could three pct the merged firm sources said those seeking join are general electric ford motor citibank bankamerica corp bac nyse shearson lehman bros inc saloman brothers asia boeing computer service unisys corp uis societe generale and deutsche bank dbkg fra the merger plan has been criticised for excluding foreign firms from meaningful position the market the prime minister margaret thatcher secretary state george shultz commerce secretary malcolm baldrige and trade representative clayton yeutter have all expressed such opposition japanese prime minister yasuhiro nakasone will draft reply the criticism following further discussion posts and ministry official said reuter 
earn	siemens sees sales near billion marks this year world group turnover siemens sieg should rise billion marks the current year september after pct upturn the first five months management board chairman karlheinz kaske said siemens reported world group turnover billion marks kaske told the annual shareholders meeting turnover rose billion marks the first five months about pct above the same year ago period the rise was mainly due payment january for west german nuclear power station which led jump domestic sales pct the first five months turnover abroad showed three pct increase kaske said without giving figures the same period incoming orders rose five pct billion marks against the same period for the year whole incoming orders should rise between one and two billion marks around billion apart from payments for the nuclear power station the communications and telecommunications sectors particular should contribute growth this year kaske said but was not possible make profit forecast for because uncertainty about the direction the dollar kaske said siemens already reported that first quarter group net profit fell marginally mln marks from mln the same period the previous year turnover the first five months rose particularly strongly the installations and automotive technology communications and telecommunications sectors but components and energy and automation showed sharp decline kaske said domestic orders rose billion marks the first five months this year nine pct above their level the same period boosted particular orders for the fully owned kraftwerk union subsidiary foreign orders grew one pct billion marks increase orders through newly acquired subsidiaries abroad was balanced the decline the dollar while the installations and automotive technology sector showed sharp rise orders energy and automation and communications orders were below the level achieved the same period telecommunications orders remained roughly the same level kaske said investments were expected remain around six billion marks after pct increase the previous year research and development were likely rise pct billion marks around pct turnover reuter 
earn	krupp has satisfactory results the fried krupp gmbh krpg steel and engineering group said had satisfactory despite provisional pct fall total group sales billion marks from billion the previous year third party turnover declined billion from billion while orders slipped billion marks from billion said preliminary statement despite these figures which reflected the dollar weakness against the mark and oil and raw materials price falls said was satisfactory year the reason was the continued expansion the machinery and plant sector which accounted for pct total sales krupp added that some areas the mechanical engineering business achieved notable growth rates and acquisitions had underpinned machinery and component activities orders decline the steel and particular the trading and services sectors affected the group total order figures however all business sectors contributed the positive results achieved krupp added without giving details domestic orders decreased five pct billion marks from the previous year and foreign orders fell pct billion said foreign business accounted for pct orders against pct orders received the machinery and plant sector member companies which comprise the core area the group rose four mln marks last year billion krupp said the group orders hand amounted billion marks end december from billion the start the year orders received the steel sector last year decreased three pct billion marks from said the steel market weakened increasingly over the year mainly because exchange rate movements the deterioration foreign trade and downturn number customer industries the difficult market for sections and flats quality steel depressed order tonnages around seven pct krupp said but special steel boosted strong demand for stainless cold rolled flats grew five pct tonnage terms reuter 
trade	pessimism for german exporters ministry firms need not pessimistic about export prospects even though foreign markets have become more difficult because the mark strength the economics ministry said the ministry parliamentary state secretary ludolf georg von wartenberg told business conference german exports could start rising again real terms during reversing the lower export trend which emerged mid but even the turnaround did not occur there would need worry about the economy long the weakness exports did not affect currently good domestic demand von wartenberg said consumer demand remained quite good but noted there had been cooling the investment climate this certainly reason for heightened watchfulness but not for stimulative steps said the best way for bonn help its exporters work actively promote free world trade added von wartenberg said the economy still had good export opportunities price alone was not the only factor international competitiveness said adding german firms have reputation for high quality standards prompt delivery times and good service von wartenberg said the government was difficult position its trade figures faced international pressure reduce its trade surplus but west germans were worried about the effect the mark strength the country exporters reports about the trade surplus especially overseas tended concentrate nominal trade figures which rose record billion marks said but this rise was due entirely the lower value imports caused the decline both the dollar and oil prices german exports have fact been falling real terms for sometime said reuter 
money-fx	monetary authorities said lose credibility the monetary authorities the major industrialised countries lost their credibility this week the dollar was sold off despite pleas from ministers and widespread central bank intervention dealers said the dollar fall below yen which follows last month paris currency stabilisation agreement the japan west germany britain france and canada dramatic reversal the success the group five new york plaza meeting weaken the dollar they said the and the market agreed that the dollar was overvalued but this time the market and the authorities are different sides dealers said apparent confusion the ranks the nations has encouraged the market challenge the authorities despite concerted intervention the central banks the united states japan britain and west germany they said pleas japanese finance minister kiichi miyazawa for action stabilise the dollar were matched over the weekend comments treasury secretary james baker that there was target zone for the dollar the dollar was sold anyway yesterday comment baker that stood the paris accord did nothing reverse sentiment dealers said the intervention backed remarks fed chairman paul volcker and japanese central bank governor satoshi sumita which few months ago would have brought the dollar fall halt has done little but slow the rate its decline they noted the situation has again raised the question whether intervention can succeed against the trend today huge currency markets dealers said the market cool response intervention reflected basic oversupply dollars this means that the current dollar selling not sheer speculative nature but backed real demand said koichi miyazaki deputy general manager sanwa bank dealers said the dollar will remain weak despite the intervention and only matter time before some operators try push below yen the dollar closed tokyo today against new york its record low was tokyo last tuesday dealers said the dollar will gain only temporary support rise above yen toward early april when the group seven industrial nations meets discuss currencies again the market expects the seven nations the paris six plus italy try agree another way stabilise currencies apart from intervention chief dealer bank said dealers said they were unsure what other methods could used and they are sceptical anyway about how long the paris accord nations particulary the will remain willing prevent further dollar fall given the continuing high trade deficit especially with japan further pressure from protectionist congress for lower dollar also limiting washington options they said the market now thinks the central bank action slow the dollar fall not push back over yen said tadahiko nashimoto manager long term credit bank japan another bearish factor for the dollar expected large forward dollar sales from april june for export bills falling due for japanese exporters from april september the exporters had delayed expectation further yen depreciation dealers said yesterday request trading houses the ministry international trade and industry restrict dollar sales looks ineffective light this real demand they said the market also anticipating active institutional dollar sales hedge currency risks bond holdings from the new business year starting april dealers said the market seems have established new dollar trading range between and yen one dealer said the dollar traded between and yen after the paris accord february and yen was then considered the low end for the dollar against the yen said some dealers now believe that the dollar falls below yen will pick renewed downward momentum and slide reuter 
trade	feb trade deficit mln stg deficit mln jan official 
earn	lucas sees continued growth second half lucas industries plc lucs said its underlying performance would continue improve the second half but profits would restrained low activity commercial vehicle and tractor markets well north american electronics the company earlier reported two mln stg rise pretax profit mln the six months end january the figure was some five mln below forecasts and lucas shares dropped sharply gmt from last night close said would continue with plans for all its activities internationally competitive and profitable costs restructuring reorganisation employee training and retraining particularly the automotive businesses together with high research and development spending would affect profits the short term but lucas said was exploiting growth opportunities automotive markets especially vehicle breaking and engine management systems recent acquisitions north america had strengthened lucas aerospace and lucas industrial systems reuter 
grain	iwc ups soviet grain import estimate three mln tonnes mln official 
trade	trade surplus cut would benefit japan sumita bank japan governor satoshi sumita said japan national interest make greater efforts reduce its trade surplus told business executives the most important issues for the world economy are the correction international trade imbalances and solution the world debt problem this end japan and the must make medium and long term efforts alter economic structures which have expanded the trade gap between the two nations world economic growth and therefore expansion debtor countries export markets are needed solve the debt issue added reuter 
acq	commission approves rainbow progressive merger the commerce commission has approved proposed merger between progressive enterprises ltd and rainbow corp ltd rainbow said statement the merger involves the formation new company astral pacific corp ltd which will acquire all shares both companies one for one share exchange basis rainbow earlier this week lifted its stake progressive pct from pct the statement said new private company transcapital corp ltd fully owned rainbow directors craig heatley gary lane and ken wikeley will purchase this stake for undisclosed cash sum the commission has also approved transcapital acquiring pct astral pacific rainbow said brierley investments ltd which has been frequent critic the merger launched full bid for progressive dlrs share last monday reuter 
money-fx	money market forecast revised deficit the bank england said revised its estimate today money market shortfall around mln stg from flat position reuter 
money-fx	currency exchange loss pushes malaysia debt exchange loss billion ringgit pushed malaysia outstanding external debt billion ringgit from billion the central bank said its annual report bank negara said although malaysia net borrowing dropped its external debt rose due the pct appreciation the basket currencies against which the ringgit pegged the basket comprises principally the dollar yen mark swiss franc french franc sterling guilder canadian and singapore dollars added bank negara said growth external debt which declined progressively from peak pct pct rose pct malaysia debt serving ratio pct its exports within the prudency limit pct bank negara governor jaafar hussein told reporters reuter 
trade	treasury baker opposes tax increase treasury secretary james baker said that opposes federal tax increase help reduce the budget deficit and favors spending cuts instead don think tax increase very good idea and quite confident that president reagan doesn think very good idea baker said interview cable news network moneyline television program said taxpayers are taxed rate pct gnp which traditionally where has been but the federal government spending rate pct gnp baker said spending cuts are clearly the best way cut budget deficits baker said opposed stock transactions tax proposed house speaker jim wright tex other special taxes the stock transfer tax would particularly unfortunate approach take the treasury secretary said said the united states has some the most efficient capital markets the world and new taxes would impair efficiency the international front baker said banks must more lending developing countries was questioned about this after the standard and poor corp downgrading today the debt six major money center bank holding companies largely because their heavy developing nation loan exposure baker said that developing countries must adopt free market economic policies such the united states said capital flows will required support the needed reforms the economic systems those countries the money must come either through equity debt and baker said that developing nations investment regimes not support enough equity investment you got have some debt there commenting the trade deficit baker said think you going see billion dlr reduction this year reuter 
money-fx	treasury baker says stands paris pact treasury secretary james baker said stood the paris agreement among leading industrial nations foster exchange rate stability around current levels would refer you the paris agreement which was recognition the currencies were within ranges broadly consistent with economic fundamentals baker told the cable news network interview were quite satisfied with the agreement paris otherwise would not have been party too said baker also noted the nations agreed the accord operate foster greater exchange rate stability around those levels refused comment directly the current yen dollar rate but said flatly that foreign exchange markets recently tended draw unwarranted inferences from what say baker was quoted british television over the weekend saying has target for the currency statement that triggered this week renewed decline the dollar think the paris agreement represents evidence that international economic policy ordination alive and well baker said the treasury secretary stressed however was very important for the main surplus countries grow fast they could consistent with low inflation resolve trade imbalances added that federal reserve board chairman paul volcker has also been very outspoken suggesting main trading partners grow fast they can reuter 
earn	first interstate estimates loss brazil first interstate bancorp chairman joseph pinola said the bank holding company would lose about mln dlrs per year after taxes had put its medium and long term debt non accrual status interview said that could result about pct decline annual earnings per share pinola said first interstate like other banks has not yet decided put the loans which brazil stopped paying interest last month non accrual status none really wants injure negotiations that might going said first interstate reported the securities and exchange commission last week that has about mln dlrs medium long term loans brazil said december its nonperformind brazilian outstanding debt totaled about mln dlrs first interstate also has about mln dlrs short term loans trade lines brazil pinola said believes the solution the brazilian debt crisis will more political than economic which said finds very disquieting and discomforting reuter 
earn	mickelberry corp mbc qtr net shr profit cts loss cts net profit loss revs mln mln avg shrs year shr profit cts loss cts net profit loss revs mln mln note quarter net includes dlr tax credit reuter 
acq	mickelberry mbc completes sale unit mickelberry corp said has completed the previously announced sale the pct its and group subsidiary that had retained ayer inc for undisclosed terms ayer bought the other pct next year mickelberry said will report gain the transaction reuter 
earn	fluorocarbon fcbn qtr jan net shr cts cts net sales mln mln year shr cts dlrs net sales mln mln note prior year net includes gain dlrs from discontinued operations year and loss quarter and gain dlrs year from disposal discontinued reuter 
acq	philips electrical sells stake unidare philips electrical ireland ltd has arranged the sale the one mln ordinary shares holds its subsidiary unidare aluminium ltd unidare said the placing has been arranged through allied irish investment bank plc dividend price irish pence per share reuter 
earn	american medical international inc qtr shr profit cts loss cts 
earn	american medical international inc ami net qtr shr profit cts loss cts net profit mln loss mln revs mln mln half shr profit cts loss cts net profit mln loss mln revs billion billion avg shrs mln mln note period ended february prior year net both periods includes pretax asset writedowns mln dlrs and additions reserves mln dlrs prior year net includes tax credits mln dlrs quarter and mln dlrs half reuter 
acq	foote mineral letter intent merge into rio tinto zinc 
earn	trizec corp ltd qtr jan net shr cts cts net mln mln revs mln mln avg shrs mln mln note company owns pct bramalea ltd reuter 
earn	boston edison bse regular dividend qtly div cts cts prior qtr payable may one record april reuter 
acq	foote mineral fte merge into rio tinto foote mineral said has signed letter intent merge into rio tinto zinc corp plc for cash the company said the time the acquisition its assets will include only lithium and ferrosilicon operations foote which pct owned newmont mining corp nem has signed letter intent sell its cambridge operations and said talks the sale its manganese operations with several companies foote said newmont has informally indicated would vote favor the rio tinto proposal foote said terms the agreement including price for the proposed cash transaction have not been released because they are subject continuing due diligence investigation the company said definitive merger agreement expected negotiated within six weeks and shareholders are expected vote the deal meeting expected held june july reuter 
earn	best products inc qtr shr dlrs cts 
earn	best products bes qtr jan net shr profit dlrs profit cts net profit mln profit mln sales mln mln year shr loss cts profit eight cts net loss mln profit sales note current year net both periods includes prtax provisions for restructuring operations dlrs quarter and mln dlrs year latest year net includes dlr tax credit and dlr posttax loss from debt extinguishment reuter 
interest	bank spain provides year record assistance funds the bank spain provided billion pesetas assistance funds which bankers said reflected fears fresh increases overnight rates the daily auction was the biggest the year and comes after the previous record set last june billion pesetas spokesman for one spain top five banks said higher overnight call money rates were expected the short term view disappointing money supply figures for february the money supply measured liquid assets public hands rose pct last month against pct january and compared with this year eight pct target money supply growth was pct last year the central bank tuesday raised overnight rates quarter percentage point pct demand for billion pesetas rates stood pct the start the year and have been increased drain liquidity rising demand for funds the policy proving counter productive and rates will have come down the long term the bank spokesman said reply reuters enquiries said higher rates were fuelling influx short term speculative capital from abroad least mln dlrs current excess liquidity the system convertible pesetas from west germany and other countries with much lower rates said reuter 
acq	ethyl corp units complete acquisiton ethyl corp said its subsidiaries completed the acquisiton nelson research and development nelr the merger was approved following completion jan tender offer valued approximately mln dlrs the company said added that nelson based irvine calif will operated wholly owned subsidiary ethyl nelson designs and develops new drugs ethyl said reuter 
trade	british politicians urge japan trade sanctions one hundred members britain ruling conservative party have signed motion calling for trade sanctions against japan force tokyo open its domestic market british goods the government announced last week that japan had billion dlr trade surplus with britain the department trade and industry said the government was drawing contingency plans force japan into opening its domestic markets but spokesman said such moves were very much last resort ideas being considered included blocking japanese companies from trading britain and revoking licenses japanese operations the london financial district reuter 
acq	hold new york press conference british petroleum plc said has scheduled new york press conference for est gmt today which senior management will discuss the company proposed acquisition the pct standard oil srd that does not already own for dlrs per share the offer worth about billion dlrs reuter 
money-fx	treasury mulford reaffirms pact foster currency stability around current levels 
money-fx	treasury mulford says has currency target zones ranges 
money-fx	bank france leaves money market intervention rate unchanged pct official 
acq	mco mco maxxam mxm holders approve merger mco holdings inc said its shareholders and those maxxam group inc have approved the proposed merger the two companies mco said one maxxam shareholder has filed objection the proposed settlement shareholder actions related the merger the delaware court chancery hearing the settlement proposal scheduled for march the merger subject court approval the settlement well other conditions reuter 
earn	price pclb qtr march net shr cts cts net mln mln sales mln mln avg shrs mln mln half shr cts cts net mln mln sales billion billion avg shrs mln mln note twelve and week periods reuter 
earn	carolian systems sees lower fiscal profit carolian systems international inc said anticipates profit for fiscal ending june will lower than fiscal earnings dlrs despite expected revenue increase pct more than mln dlrs after extraordinary expense associated with the december withdrawal planned common share offering expect modestly profitable for the year but below the dlrs earned fiscal the company said carolian previously reported fiscal six month profit dlrs excluding extraordinary loss dlrs compared earnings dlrs the prior year the company said anticipated fiscal earnings lower due withdrawal its share offering computer equipment shipment delays and costs associated with sales staff expansion strengthening canadian dollar against currency will also adversely affect revenues and earnings since pct revenues are generated sales outside canada said carolian leading supplier utility software for hewlett packard computer systems reuter 
acq	neoax noax sell novatronics for mln dlrs neoax inc said has agreed sell the assets and business its novatronics division veeco instruments inc vee for mln dlrs neoax said expects gain about nine mln dlrs the transaction which expected becomleted during the second quarter adding the gain will sheltered its tax loss carryforwards novatronics makes military specification power supplies and avionics components for various prime government defense contractors had sales mln dlrs reuter 
earn	ponce federal bank fsb pfbs raises dividend qtly div nine cts cts prior qtr payable april record march reuter 
earn	foothill group fgi sees better first quarter don gevirtz chairman the foothill group inc told reuters the company first quarter results will sharply over last year eight cents share first quarter results will dramatically better said following presentation analysts cited sharp drop non earning assets healthy asset growth and lower expenses declined predict specific results for the first quarter the first quarter the commerical finance company earned dlrs eight cts per share gevirtz also declined predict full year results but said expect excellent year foothill earned dlrs cts per share analysts expect foothill record earnings cts cts share during the presentation gevirtz said foothill has reduced less than five pct the company level non performing assets which was high eight pct previous years david hilton chief financial officer said the company general and administrative expenses will reduced about pct average assets from pct the company had average assets mln dlrs from continuing operations and mln dlrs from discontinued operations according its annual report reuter 
acq	standard srd referring bid group standard oil said british petroleum plc proposed offer dlrs share for the pct standard stock not held being referred special committee the company board this committee which composed the independent non exective directors the company was formed april for the purpose monitoring the relationship between standard oil and standard said the group will consider offer due course noting the committee has retained the first boston corp and cravath swaine and moore advisers reuter 
earn	anchor glass agls now sees higher qtr net anchor glass container corp said first quarter net income now expected exceed the mln dlrs earned before extraordinary items the year earlier quarter previously the company had said first quarter results would likely lower than for the period due production disruptions caused the large number production line changes scheduled during the first quarter its statement pointed out while the disruptive effects the production line changes had occurred line with expectations anchor glass said first quarter operating results were helped lower than anticipated operating costs and improved margins sales result more favorable product mix the company said its income performance for the full year remains very good also said anchor hocking corp arh has converted the entire principal balance its anchor glass convertible subordinated note anchor glass common shares anchor glass said the conversion decreased its total debt and increased stockholders equity about mln dlrs and increased common shares outstanding said the conversion will also reduce its annualized net interest expense about mln dlrs dlrs after taxes reuter 
earn	macneal schwendler corp mns raises payout qtly div five cts cts prior pay june record may note prior payment adjusted for two for one stock split declared recently reuter 
earn	viacom international inc via sets quarterly qtly div seven cts seven cts prior pay may eight record april reuter 
money-fx	money market gets mln stg late help the bank england said provided about mln stg late help the money market bringing the total assistance today mln stg this compares with the bank revised estimate mln stg money market shortfall reuter 
earn	phlcorp phx has breakeven results phlcorp inc said for november through december its first reporting period after emerging from reorganization proceedings earned dlrs revenues mln dlrs excluding dlrs gains the sale real estate and dlrs tax credits the company the successor baldwin united corp reuter 
acq	foote mineral merge into rio tinto foote mineral said signed letter intent merge into rio tinto zinc corp plc for cash foote pct owned newmont mining corp said newmont has informally indicated would vote favor the rio tinto proposal foote said terms the agreement including price for the proposed cash transaction have not been released because they are subject continuing due diligence investigation the company said definitive merger agreement expected negotiated within six weeks and shareholders are expected vote the deal meeting expected held june july reuter 
acq	cross and trecker ctco buys automation unit cross and trecker said agreed acquire the alliance automation systems division gleason corp gle for undisclosed amount cash said the gleason division manufactures automated assembly and test systems used the production small medium size components for number industries including automotive electronic and appliance alliance automation had sales about mln dlrs and employs reuter 
earn	salant corp slt qtr feb net oper shr profit seven cts loss cts oper net profit loss sales mln mln note current year net excludes dlr tax credit company operating chapter bankruptcy reuter 
earn	healthmate inc hmte qtr loss shr loss five cts loss six cts net loss loss revs mln mln avg shrs year shr loss cts loss cts net loss revs avg shrs reuter 
earn	national banc commerce nbcc sets payout qtly div cts cts prior pay april eight record march reuter 
earn	harsco corp hsc sets regular payout qtrly div cts cts pay may record april reuter 
earn	computer associates sets two for one split computer associates international inc said its board has declared two for one stock split payable may seven record april seven reuter 
ship	lawrence seaway opening still march the lawrence seaway between lake ontario and montreal still scheduled open for the shipping season march seaway official said the great lakes could have been open for traffic earlier this month due the mild winter but scheduled repairs the welland canal joining lake erie with lake ontario will keep that section closed until the april opening she said one lock system the four lock soo canal joining lake superior with huron was opened the morning march but only three commercial vessels have been locked through far according army corps engineers official the soo canal currently only open for daylight vessel movement with hour movement allowed beginning march she added reuter 
grain	dutch grain levy test case start april large dutch animal feed compounder will begin formal legal proceedings early next month test case the way the grain responsibility levy applied spokesman for dutch grain and feed trade association het comite told reuters het comite has been ordinating national actions against alleged distortions caused currency factors the levy and since december has lodged more than individual cases with the business appeal court the hague the basic complaint that the levy does not take account currency cross rates exchange and therefore compounders countries with strong currencies may have pay more their own currency than paid them producers another country het comite has obtained temporary agreement that companies can pay the amount they receive toward the levy rather than paying full guilder amount the dutch grain commodity board the spokesman said het comite will provide financial and legal backing the test case the business administration court the hague oral proceedings are begin april the spokesman said het comite finally selected the company for the test case from among the lodged because the bill the firm received from the commodity board for payment the levy contained significant currency distortions and involved grain from wide variety origins the name the company not being made public the administration court not expected make final ruling the case the near future the het comite spokesman said was very likely would refer questions the appeal court luxembourg and result could easily another nine months before the matter finally resolved meanwhile the actions dutch animal feed compounders are putting pressure the commodity board urge the dutch government follow through earlier statements and seek complete review brussels the way which the levy collected the spokesman said het comite member fefac the association european animal feed manufacturers also party actions protesting the whole levy the luxembourg appeal court reuter 
earn	seven fund sees higher net seven fund inc said expects earn six dlrs share from dlrs share the company said the net earnings were pct from dlrs net asset value rose pct dlrs share from year earlier adjusted for three for two stock split reuter 
earn	roy weston inc wstna qtr net shr cts cts net revs mln mln avg shrs shr cts cts net revs mln mln avg shrs note share adjusted for three for two stock split effecitive march weston said earnings for the firstg quarter will about flat due the recent substantial addition management and technical staff and expansion the southeastern and northwestern the company said full year earnings and revenues are expected higher the company today reported earnings dlrs from dlrs and revenues mln dlrs from mln dlrs weston earned dlrs last year first quarter reuter 
acq	blockbuster bbec acquire licensee blockbuster entertainment corp said agreed buy southern video blockbuster licensee san antonio blockbuster said will issue shares its common stock for all the net assets southern video the company said after the acquisition complete intends open additional blockbuster video superstores the san antonio market reuter 
acq	contel ctc buy walker county telephone contel corp said has agreed principle acquire walker county telephone lafayette for undisclosed amount common stock walker has customers northeast georgia the company said the agreement subject approval regulatory agencies both boards and walker shareholders reuter 
money-fx	mulford says wants stability treasury assistant secretary david mulford said the paris agreement among leading industrial nations intended produce reasonable stability exchange markets over the next few months told senate banking subcommittee the group five nations and canada agreed paris see there can period reasonable stability instead volatility give time for the committments paris take place asked sen phil gramm tex whether intervention was not fact overvaluing the dollar mulford replied that the administration judged that after economic adjustments current exchange rates reflect underlying economic fundamentals particular the stability sought the nations would allow west germany and japan stimulate their economies domestically and the cut its budget deficit mulford said his testimony stressed that further sharp fall the dollar would hurt the ability germany and japan boost growth mulford noted that half west germany economy was affected international developments also said increased japanese domestic growth would result more exports japan and would not necessarily lead greater japanese capital flows the gramm asserted japan reformed its domestic capital market commenting the paris agreement mulford said think exchange rates ought stabilized germany and japan efforts can carried out mulford rejected gramm argument that faster domestic growth germany and japan would result even lower dollar mulford said the administration wanted achieve pattern higher growth overseas way improving the trade deficit otherwise said the trade deficit would resolved either through much lower dollar recession both alternatives termed unacceptable and undesirable reuter 
acq	thermo process tpsi completes acqusition thermo process systems inc said completed its purchase thermo process services inc subsidiary thermo electron corp tmo thermo process systems said issued shares its common stock thermo electron connection with the sale reuter 
acq	siemens raises stake telecom plus siemens sieg fully owned subsidiary siemens informations systems inc has raised its stake telecom plus communications inc pct pct siemens spokesman said added that telecom plus communications was the largest independent supplier telephone exchange systems the and had achieved turnover mln dlrs the stake had been acquired from telecom plus international inc the spokesman declined comment newspaper reports that the purchase price the remaining stake totalled mln dlrs reuter 
earn	fruehauf posts mln dlr loss fruehauf corp which went private december through leveraged buyout said the predecessor company had loss mln dlrs compared earnings mln dlrs sales the predecessor company were billion dlrs compared billion dlrs including the sales the operations which are divestiture candidates fruehauf said connection with the buyout acquisition the predecessor company incurred about mln dlrs expenses charged against operations addition the direct expenses fruehauf said operating results were adversely affected unquantifiable amount due the disruption related proxy contest and attempted hostile takeover which started early fruehauf said its board rescheduled the annual meeting june from may allow for completion and distribution the results shareholders reuter 
acq	michigan general mgl sell krestmark unit michigan general corp said agreed sell substantially all the assets and certain liabilities its krestmark subsidiaries lcb holdings inc for mln dlrs cash sale texas based krestmark maker doors door frames and other products will allow michigan general concentrate retailing through its diamond lumber and savannah wholesale units proceeds the sale will used reduce debt the deal subject execution definitive agreement krestmark had revenues about mln dlrs and operating losses three mln dlrs the company said has been accounted for discontinued operation since last september dallas based lcb privately held maker structural steel joists and rack and storage handling systems michigan general also said its diamond lumber homebuilding products retail unit closed nine unprofitable stores the first quarter and reduced its headquarters staff pct the nine closed stores which had pretax operating losses mln dlrs are being sold provide cash for operations about mln dlrs inventory from the stores being transferred other locations the company said reuter 
acq	rabbit software rabt merge with cti data rabbit software corp said agreed principle merge with cti data inc privately owned communications company according terms cti holders and employees will receive shares rabbit stock and royalties sales cti products cti will become wholly owned subsidiary rabbit the deal subject completion definitive merger agreement receipt third party approvals and other conditions the company said reuter 
earn	comstock group inc cstk qtr loss shr loss cts loss cts net loss loss revs mln mln year shr loss dlr loss four cts net loss loss revs mln mln note qtr and year net includes loss dlrs and gain dlrs cts per share for extraordinary item reuter 
earn	healthmate inc says auditors intend qualify its financial statements 
earn	harsco corp hsc sets quarterly qtly div cts cts prior pay may record april reuter 
earn	milastar corp mila qtr jan loss shr loss two cts loss four cts net loss loss sales nine mths shr loss seven cts loss three cts net loss loss sales note prior nine mths net includes dlr loss sale marketable securities prior quarter net includes dlr tax credit current year net includes provisions for loss investment preferred stock dlrs quarter and dlrs nine mths reuter 
earn	bank boston expects qtr earnings from cts dlrs shr cts 
earn	bank boston bkb sees improved quarter bank boston corp expects first quarter earnings will range between cts and one dlr share from cts share last year chairman william brown said told shareholders the company has mln dlr exposure loans brazil that country defaults its debt payments default does occur would first quarter earnings about five cts share which would bring the bank the lower level the estimated range added brown noted the first quarter net included cts gain from loan restructurings which will not appear this year brown said the bank other nonperforming assets not including its brazilian exposure could rise over mln dlrs the end this quarter compared with mln dlrs year earlier and mln dlrs the end said the increase includes all its equadorian loans which expects will ultimately repaid after the company recovers from earthquake earlier this year brown said the increase also includes some mexican and venezuelan loans those nations are also facing credit problems brown said the bank boston remains cautiously optimitic about the full year even our brazilian exposure were nonaccural all year the bank earned dlrs share mln dlrs net interest revenues billion dlrs president ira stepanian told the shareholders meeting the bank total loans argentina brazil and mexico totaled mln dlrs the end pct its primary capital brazil loans total mln dlrs which about two thirds are affected its suspension interest payments its medium and long term foreign debt reuter 
acq	usair gets approval buy piedmont shares tender 
interest	fed expected add reserves the federal reserve expected enter the government securities market add reserves during its usual intervention period today economists said with federal funds trading steady pct most economists expect indirect injection temporary reserves via medium sized round customer repurchase agreements however some economists said the fed may arrange more aggressive system repurchase agreements economists would also not rule out outright bill pass early this afternoon such action had been widely anticipated yesterday but failed materialize reuter 
earn	norcen sees improvement earnings norcen energy resources ltd pct owned hees international corp said earnings and cash flow will improve even oil and gas prices remain levels the improvement will result from production increases lower taxes and royalties reduced financing costs and from operating efficiencies and downsizing put into place during the company said the annual report norcen previously reported earnings excluding mln dlr writeoff declined pct mln dlrs from mln dlrs norcen cash flow fell pct mln dlrs from mln dlrs the prior year said the sharp decline oil prices during was the most significant factor for norcen reduced performance while financial results are far from the previous year record levels clear that norcen has withstood declining prices and remains financially and operationally strong norcen said did not give specific profit forecast the company said well positioned capitalize profitable opportunities its core business areas and will continue invest increase revenue and asset values reuter 
acq	siemens rebutts criticism cgct offer siemens sieg rebutted criticism blocking american telephone and telegraph corp and entry into french telecommunications firm compagnie generale constructions telephoniques cgct management board member hans baur told journalists that the acquisition joint pct stake cgct and and philips gloeilampenfabrieken pglo had not been decided two years ago claimed and the french government which owns cgct had asked siemens the start submit offer for the stake cgct the result the negotiations was still open baur said siemens had first made offer last summer the handelsblatt newspaper today quoted and chairman james olson saying that siemens attempt stop and and philips could lead resurgence protectionism the baur said expected the french government decide the winning bid the end april cgct share the french switchboard market amounts around pct the french government has limited cgct participation foreign companies pct and set price mln francs for the whole company bauer said the pct limitation would only apply the initial stake did not rule out stake increase later but said siemens aim was introduce its technology bauer said siemens and french telecommunications firm jeumont schneider submitted joint offer the start march because the pct limitation both companies will form joint venture take over the whole cgct siemens will have pct stake the new company while jeumont schneider will own pct apart from investing mln francs for the modernisation cgct new research centre with was also being planned reuter 
money-fx	mulford disappointed newly industrialized nics efforts strengthen currencies 
earn	ford nears executive bonuses ford motor neared general motors corp last year executive bonuses while topped the larger automaker profit sharing payments workers ford which outstripped earnings last year said its incentive bonuses totaled mln dlrs slightly behind general motors mln general motors however did not make any profit sharing payments its workers while ford made profit sharing distribution mln dlrs dlrs per worker general motors which saw its earnings drop billion dlrs from billion said the profit was not sufficient generate payout under the profit sharing formula ford which earned billion dlrs from billion said recognizes employees efforts and fulfills its commitment them many ways including profit sharing reuter 
earn	pier imports pir declares stock split pier imports inc said its board declared three for two split its common stock and its cents preferred stock and declared regular quarterly dividend two cents per share the pre split shares common stock outstanding pier also declared pct annual dividend increase for the post split common shares the split will effected the form pct stock dividend both classes the company said shareholder approval required for increase authorized shares common stock mln from mln said approval also needed for increase authorized shares preferred stock from one million five million said voting will conducted its annual shareholder meeting june pier said there are currently million shares common stock and shares cts preferred stock outstanding the split shares will distributed june shareholders record may the two cts per share quarterly cash dividend will payable may shareholders record may the increase shares outstanding will broaden the base stock ownership the company and the dividend increase reflects the directors positive outlook for the future prospects pier imports said clark johnson president and chief executive officer reuter 
earn	lancer corp lacr qtr net shr cts cts net revs avg shrs year shr cts dlrs net revs mln mln avg shrs note quarter net includes dlr charge from repal investment tax credit reuter 
earn	macneal schwendler corp mns qtr jan net shr cts cts net revs year oper shr cts cts oper net revs mln mln note prior year net excludes dlr loss from discontinued operations and dlrs disposal share adjusted for stock dividends reuter 
earn	nichols institute lab qtr feb net shr two cts one net revs mln reuter 
earn	first medical devices corp fmdc year loss shr loss cts net loss sales note company development stage reuter 
earn	healthmate hmte expects qualified opinion healthmate inc said its auditors laventhol and horwath indicated they will issue qualified opinion the company financial statements the company which went public march earlier reported losses for the fourth quarter said the auditor statement known subject opinion cautions that because continuing operating losses and negative cash flow must achieve profitable operations acquire additional equity capital other financing continue existence healthmate reported loss for the year dlrs cts share revenues mln dlrs year ago had loss dlrs cts share revenues dlrs said the increased sales reflect initial shipments its fluoroscan imaging systems low radiation ray imaging devices that recently were classified underwriters laboratories inc reuter 
earn	healthmate inc hmte qtr loss shr loss five cts loss six cts net loss loss revs avg shrs year shr loss cts loss cts net loss revs avg shrs reuter 
acq	usair cleared buy piedmont pie shares usair group inc said the department transportation has issued order allowing purchase and hold voting trust the piedmont aviation inc shares usair seeking its current dlr per share tender offer the company said the new order supersedes order issued the department last friday that would have required usair sell within one week expiration the tender any piedmont shares held excess pct the piedmont stock then outstanding the company said the piedmont shares together with the piedmont shares already owned usair constitute about pct piedmont shares fully diluted basius but about pct shares currently outstanding the shares are held voting trust pending the department review usair application obtain control piedmont reuter 
interest	fed sets two billion dlr customer repurchase fed says 
earn	house fabrics inc qtr jan net shr cts cts net sales mln mln year shr cts cts net sales mln mln note prior year net both periods includes dlr charge from sale craft showcase stores reuter 
money-fx	german wage round said limit monetary options the bundesbank options for west germany monetary policy are limited for the foreseeable future the delicate stage wage negotiations between unions and employers economists and money market dealers said call money fell quite active trading today dropping pct from pct yesterday and below the pct treasury bill rate difficult month end approached but dealers and economists said the bundesbank was unlikely encourage lower rates the foreseeable future largely for fear upsetting the current wage round one money market dealer for major foreign bank said don think the bundesbank wants rates whatever happens but also does not want them fall above all wants wait see how the unions wage round goes west germany unions and employers prepare the ground for triennial wage negotiations based detailed assessments growth and inflation economists said ute geipel economist with citibank said the bundesbank became more accommodating monetary policy raising fears some quarters return inflation the medium term unions would obliged curtail wage demands result the bundesbank was concerned make move that would interfere the negotiating process geipel said the current round the country most powerful union the metall representing metalworkers and engineers demanding shortening the working week hours from the present and accompanying five pct increase wages the engineering employers association gesamtmetall offering bring hour week from july and give two stage wage increase pct rise from april this year and another pct from july the agreement forged metall europe largest union with mln members and the employers would set the benchmark for settlements other industries such the public sector banks and federal post office negotiations began december and unions are hopeful they may conclude early april ahead the traditional holiday period june though many economists said the unions current warning strikes and rhetoric were part the negotiating strategy and would not lead repeat damaging seven week strikes others said unions would not compromise greatly their positions and there could still conflict this could extend the length time which the bundesbank would keep its activity low key economists said the money market head said the unions humiliation the protracted financial problems the neue heimat cooperative housing venture would contribute union obstinacy the unions haven forgotten that and they will put this squarely onto the account the negotiations said addition the newly elected chairman the metall union franz steinkuehler was more radical and determined than his predecessor hans meyer and may set for longer battle achieve the best possible settlement for his membership more than engineering workers firms mainly south germany held warning strikes lasting two hours yesterday firms hit included zahnradfabrik passau gmbh and aerospace group messerschmitt boelkow blohm gmbh today employees from companies came out warning strikes statement from metall said money market dealers said that overnight call money rates would rise the near future any case and did not depend politically inhibited bundesbank about eight billion marks were coming into the market tomorrow from salary payments the federal government result some banks fell back the bundesbank offer mop liquidity via the sale three day treasury bills anticipating still lower rates before the month end but pension payment date banks behalf customers was due monday other dealers noted banks were short liquidity until the bills matured tuesday rates could soar perhaps the pct lombard ceiling banks were well stocked with funds having average billion marks bundesbank minimum reserves the first days march well above the billion requirement reuter 
acq	foreign firms hope join japan telecom company president nobuo ito international telecom japan inc itj one two rival firms seeking enter japan international telecommunications market said will offer stake the company foreign firms but declined specify what share the firms would take and told reuters they would not participate its management itj and international digital communications planning inc idc which both cable and wireless plc and pacific telesis group own pct stakes are set merge into new entity compete against kokusai denshin denwa ltd reuter 
acq	siemens raises stake telecom plus siemens sieg fully owned subsidiary siemens informations systems inc has raised its stake telecom plus communications inc pct pct siemens spokesman said added that telecom plus communications was the largest independent supplier telephone exchange systems the and had turnover mln dlrs the stake had been acquired from telecom plus international inc the spokesman declined comment newspaper reports that the purchase price totalled mln dlrs reuter 
acq	first interstate seeks acquisition less than two months after first interstate bancorp withdrew its bold attempt buy bankamerica corp chairman joseph pinola still looking for good buy but also looking ways avoid being bought wide ranging interview pinola said looking for ways improve profitability and capital between now and resist any potential look maintain our independence possible federal regulatory changes will allow the major east coast banks buy banks california first interstate the fourth largest california bank and the nineth largest nationwide owns banks western states and has franchise operations four additional states bank industry sources say attractive target for large foreign banks looking quickly move into the lucrative california market and the west coast region while declining specifics his corporate strategy when asked acquisitions will part the plan pinola replied that undoubtedly fair statement would almost naive not think that pinola characterized his acquisition strategy opportunistic said will look for banks management trouble that can get bargain then add management restore profitability for banks states where first interstate already operates then cut costs combining resources the exception said would texas where said most the banks are already well managed but might purchased discount because the depressed regional economy pinola declined comment what circumstances might move him rekindle his bid for bankamerica saying only continue monitor and look lot things and lot people continue monitor and look banking analysts however consider another first interstate bid bankamerica long shot not likely happen any time soon pinola called his decision last month withdraw his billion dlr bid the nation second largest bank very very difficult decision with that decision made however acknowledged first interstate may now have difficult time keeping its number four position the california banking community the competition this state tough said noting citybank recent purchase financial service branches from sears roebuck company citybank moving rapidly move down fifth and wells fargo down fourth said outside california pinola acknowledged that security pacific corp with its recent acquisitions arizona washington and oregon quickly becoming regional competitor areas where first interstate has long dominated security has been and continues highly profitable and obviously well managed company said added however first interstate the moment has the advantages having owned and managed regional banks longer and has the recognition advantage having given its regional banks common name pinola said while its coastal state banks are good financial condition first interstate continues sustain serious loan losses its rocky mountain states where energy real estate and agriculture dominate the economy asked thought loan losses those areas had peaked said don think has bottomed out because think most the problems are real estate related and the real estate problems are going with for several years pinola said another failing economic sector agriculture the midwest has slowed expansion first interstate franchise operation first interstate has franchise banks that offer first interstate financial services ten states while year ago was considering taking his franchise operation east the mississippi river pinola said because most the franchise banks are now the west expansion into the midwest must come first calling the franchise system moderately profitable pinola said going take rejuvenation the agriculture sector for commence franchising the speed were generating before the last year two the banking industry general pinola said thinks will another bad year for loan losses with only banks with minimal holdings real estate able improve profits reuter 
earn	house fabrics sees results improving house fabrics inc said expects growth earnings and revenues the current fiscal year progresses said will open about super stores this year house fabrics now operates stores the company today reported earnings for the year ended january dlrs sales mln dlrs from prior year earnings dlrs sales mln dlrs the prior year earnings included dlr charge for the disposition craft showcase stores reuter 
acq	kodak buys stake biotechnology company eastman kodak said has reached agreement acquire new stock representing pct interest industrial biotechnology company genencor inc for undisclosed terms other genencor shareholders include staley continental inc sta corning glass works glw and genentech inc gene the company said has been granted options increase its equity stake during said has agreed make multiyear multimillion dollar commitment genecor research products related food additivies and pharmaceutical intermediates reuter 
earn	avery avy qtr feb net shr cts cts net mln mln sales mln mln reuter 
interest	fed sets two billion dlr customer repurchase the federal reserve entered the government securities market arrange two billion dlrs customer repurchase agreements spokeswoman for the new york fed said federal funds were trading pct the time the indirect injection temporary reserves reuter 
earn	knight ridder inc krn sets quarterly qtly div cts cts prior pay april record april six reuter 
earn	technitrol inc tnl sets quarterly qtly div cts cts prior pay april record april seven reuter 
earn	nationwide cellular service inc ncel qtr shr loss six cts loss cts net loss loss revs avg shrs one mln year shr loss cts loss cts net loss loss revs mln avg shrs one mln reuter 
earn	automotive technologies corp year net shr cts cts shr diluted cts cts net revs mln mln reuter 
earn	rogers rog sees qtr net significantly rogers corp said first quarter earnings will significantly from earnings dlrs four cts share for the same quarter last year the company said expects revenues for the first quarter somewhat higher than revenues mln dlrs posted for the year ago quarter rogers said reached agreement for the sale its molded switch circuit product line major supplier the sale terms which were not disclosed will completed early the second quarter rogers said reuter 
earn	island telephone share split approved island telephone ltd said the previously announced two for one common share split was approved shareholders the annual meeting reuter 
earn	questech inc qtec year net shr loss nil profit cts net loss profit revs mln mln year shr profit cts profit cts net profit profit revs mln mln note current year net includes charge against discontinued operations dlrs reuter 
acq	gould gld completes sale french battery unit gould inc said has completed the sale its french battery business compagnie francaise electro chimie group investors including the unit employees and gnb inc minnesota gould did not disclose terms the deal gould said the move part its previously announced plan divest assets unrelated its computer and electronics businesses reuter 
earn	shoe town inc shu year ended jan three shr cts cts net revs mln mln note and year net includes loss dlrs eight cts share and dlrs one share respectively for discontinued operations year ended december reuter 
acq	first wisconsin fwb buy minnesota bank first wisconsin corp said plans acquire shelard bancshares inc for about mln dlrs cash its first acquisition minnesota based bank first wisconsin said shelard the holding company for two banks with total assets mln dlrs first wisconsin which had assets yearend billion dlrs said the shelard purchase price about times the earnings the bank said the two shelard banks have total five offices the minneapolis paul area reuter 
earn	american nursery products ansy qtr net period ended feb shr profit five cts profit four cts net profit profit sales nine mths shr loss cts loss cts net loss loss sales avg shrs note full name american nursery products inc reuter 
earn	discus corp disc qtr loss shr loss six cts loss seven cts net loss loss rev mln mln year shr loss cts loss cts net loss loss rev mln mln reuter 
earn	entertainment publications sees cts shr qtr loss units disposal 
earn	pay pak stores inc pnp qtr feb net shr cts cts net revs mln mln year shr cts cts net revs mln mln reuter 
earn	american nursery products ansy qtr net qtr ends feb shr profit five cts profit four cts net profit profit revs avg shrs mln mln nine mths shr loss cts loss cts net loss loss revs avg shrs mln mln note full name american nursery products inc reuter 
earn	volvo result off slightly from volvo volv said the weakening dollar caused the drop its profits but company chief executive pehr gyllenhammar said was one volvo best years ever its final report released earlier the company said the group profits before allocations and taxes was billion crowns compared with billion despite the fall gyllenhammar said sales industrial products have never been higher and volvo cars and volvo trucks were both completely sold out year end operating income was slightly higher than year earlier said the company financial strength gave exceptional opportunities invest for the future although industrial sales were the company yearend report said total sales were billion crowns against billion reuter 
acq	meridian energy castone end letter intent meridian energy inc and castone development corp privately held company jointly announced that they have decided terminate the letter intent under which meridian would have acquired castone reuter 
earn	goldfield corp qtr net loss shr loss four cts loss five cts net loss loss revs year shr profit four cts loss cts net profit loss revs note excludes loss from discontinued operations four cts per share the quarter and loss cts the year year excludes extraordinary gain two cts share reuter 
money-fx	british french ministers discuss public spending french finance minister edouard balladur discussed the need control public spending talks here today with british chancellor the exchequer nigel lawson treasury spokesman said the spokesman said the ministers reviewed their economies and public spending domestic and european community wide declined comment whether the subject concerted action shore the dollar had arisen the currency dipped sharply earlier this week after month relative stability after agreement six major industrialised nations paris february stabilise their currencies reuter 
acq	fed heller urges broad reform aid banking federal reserve board governor robert heller said the banking system could strengthened permitting formation financial services holding companies involved areas like banking insurance real estate and securities speech prepared for delivery new york the bank and financial analysts association heller said believe that increased diversification along geographic and product lines the key strengthening the american banking system said supported the idea financial services holding companies advocated the association bank holding companies which regulation various bank thrift insurance investment securities and real estate subsidiaries would handled functional lines limits would placed the extension credit the bank the associated institutions and all transactions would have arms length basis heller said measures would necessary avoid abuse the banks special position such holding companies subsidiaries heller said would require the holding company serve source strength the bank making commitment maintain the bank capital other words the bank would not allowed fail long the holding company has positive net worth heller also said commercial enterprises should permitted own financial services holding company again with the provision that capital would flow the financial enterprise necessary heller said the effects these actions would banks that are least strong the corporations holding them which customer deposits were assured while any incentive loot the bank was removed such diversification would give access national and international financial services corporations across the united states heller said that would mean the steady decline america banks the world financial league tables would arrested permitting them become more competitive reuter 
earn	federated department stores inc ups qtly div pct sets for stock split 
acq	gould gld sells french battery unit gould inc said sold its french battery unit cie francaise electro chimie group investors including the unit employees and gnb inc minnesota terms the sale were not disclosed the unit had sales mln dlrs reuter 
earn	advanced genetic sciences agsi year loss shr loss cts loss cts net loss loss revs note qtr data not available reuter 
earn	federated department fds raises qtly dividend federated department stores inc said raised its quarterly common stock dividend cts share from cts increase pct the company said also approved two for one stock split the form pct stock dividend the same time federated said will ask shareholders approve increase the number authorized shares mln from mln federated said the dividend payable pre split basis april shareholders record april new shares from the stock split will distributed may said reuter 
earn	danzar investment dnzr sets special dividend danzar investment group inc said received mln shares commonwealth capital ltd settlement debt and that will distribute the shares its stockholders dividend danzar said the dividend will also include commonwealth shares already holds the dividend shares per danzar share held will paid shareholders record april the company said reuter 
acq	fidelity fnf unit acquires california concern fidelity national financial inc said its fidelity national title insurance subsidiary acquired the operations safeco title insurance the northern california counties alameda contra costa and san mateo terms the acquisition were not disclosed reuter 
earn	home savings bank hmsb sets initial dividend qtly div nine cts pay april record april six reuter 
earn	american brands sees record first quarter results 
acq	managing director says company does not plan hike dlrs standard offer 
acq	security spc users end merger talks security pacific corp and users inc credit union data processing concern said they have mutually agreed withdraw from further merger negotiations users said that since signed letter intent merge with security november has received strong show support for continuing the credit union ownership the company with credit unions committing themselves purchase additional users common users also said the strongest financial position its year history reuter 
earn	entertainment publications epub sees loss entertainment publications inc said expects after tax loss cts share its third quarter from the disposal three units closed the company said its board approved plan discontinue the operations three subsidiaries which are primarily involved direct mail marketing the discontinued units were not likely meet the growth and profit goals the company the future entertainment publications said the three units lost dlrs cts share the six months ended december reuter 
earn	chris craft industries inc ccn regular payout chris craft industies inc said declared regular two pct stock dividend both its common stock and class common stock which equal the two pct stock dividends the company paid for the prior quarter the dividends are payable april shareholders record april six reuter 
acq	dennison manufacturing dsn sell paper unit dennison manufacturing said has signed letter intent sell its dunn paper subsidiary james river corp for undisclosed amount cash resulting first quarter charge against earnings the company saiud the loss the sale may partly reduced contingent payments over the next five years and will the first quarter more than offset the gain from the previously announced sale its hygeia sciences inc shares dunn had sales last year about mln dlrs richmond james river said closing expected the end april subject approval both boards and the reaching satisfactory labor agreements reuter 
earn	old republic int corp oldr hikes dividend qtly div cts cts prior pay june record june reuter 
earn	carson pirie scott and crn sets dividend qtly div cts cts prior pay june record may reuter 
crude	offer raises expectations for oil values british petroleum plc plan pay billion dlrs for less than half standard oil has signalled higher values the oil patch analysts said think that bid very strong affirmation and clear signal that they have confidence the and they think the barrel oil the ground going higher said sanford margoshes shearson lehman brothers inc earlier today said its unit planned tender dlrs per share for the pct standard does not already own billion dlr price that shows opec has won the war and oil prices are not going crack said prescott ball and turben analyst bruce lazier behind that huge implication for the rest the energy issues out there the stock market particularly those that are acquisition targets lazier said one those mentioned lazier was usx corp energy steel concern which had been courted investor carl icahn and drew the attention australian robert holmes court last year rumors continue swirl around its stock margoshes said does not foresee major oil firms falling into takeover situations for several years with the exception possibly amerada hess corp ahc said most the majors found partners the last round matchmaking which ended two years ago and others restructured the point that they have become unattractive oil stocks rallied response the offer exxon corp xon rose chevron corp chv jumped and texaco climbed unocal corp ucl rose while occidental petroleum corp oxy climbed amoco corp rose standard oil stock was heavy trading earlier the session had been high wall street has speculated british petroleum may boost its offer several dlrs per share but the company maintained would not raise the dlr bid british petroleum stock rose analysts said the fact british petroleum made such bid the first place indicates that the british oil giant has changed its outlook for the oil industry analysts said last year british petroleum held one the more bearish positions oil prices they said the real price oil would stay dlrs barrel for several years and think they beat hasty retreat from that point view margoshes said they are more appropriately today looking more optimistically believe they are looking dlrs long term also their heart hearts they believe that will exceeded margoshes said the benchmark crude west texas intermediate was trading today around dlrs per barrel analysts said british petroleum might have been able buy the rest standard oil for about dlrs per share when oil prices were falling last year they said standard oil brightest asset its slightly more than pct ownership the alaskan prudhoe bay oil field analysts also said the company has other interests the alaskan north slope analysts said the standard investment extremely attractive because the the largest oil market and has hard replace reserves think just fits with their long range plans increase their position the market dean witter analyst eugene nowak said analysts said also raises visibility ahead the british government announced disposal pct stock the government said would dispose the holding sometime the year beginning april one after acquiring all standard most reserves would the but only about six pct its stock held the the only way they can sell all that stock move into the united states other market can handle all that stock said rothschild analyst rosario ilacqua standard oil had net losses mln dlrs revenues billion dlrs compared profit the year earlier mln dlrs revenues billion dlrs reuter 
earn	falcon cable systems fal qtr loss shr loss dlrs loss cts net loss mln loss revs year shr loss dlrs loss seven cts net loss mln loss revs mln note net losses included extraordinary losses qtr year ago and extraordinary losses for year year ago reuter 
earn	home savings bank hmsb sets initial quarterly home savings bank said its board declared initial quarterly dividend nine cts per share payable april record april six reuter 
acq	louisiana pacific lpx sell sawmill louisiana pacific corp said plans sell its sawmill lakeview oregon and acres timberland ostrander construction the company said the transaciton shoould finalized early april terms were not disclosed reuter 
acq	suburban bancorp subba merger approved suburban bancorp inc said received approval from the federal reserve board acquire valley national bank aurora for undisclosed price suburban said has received shareholder tenders for pct valley national stock reuter 
earn	universal holding corp uhco qtr loss shr profit nil profit nine cts net profit profit revs year shr loss cts profit cts net loss profit revs mln note net includes capital gains for qtr and for year current year net includes charge from contract obligation former chairman reuter 
earn	freedom federal frfe recognize gain freedom federal savings bank said will recognize its first quarter earnings previously deferred mln dlr gain which resulted from the sale apartment complex said the recognition comes result repayment loan which was granted when the complex was sold reuter 
earn	commerce clearing house inc cclr hikes div qtly div cts cts prior pay april record april reuter 
earn	quantech electronics corp qant qtr dec shr loss cts loss six cts net loss loss revs nine mths shr loss cts loss cts net loss loss revs mln mln note prior year net includes losses from discontinued operations dlrs quarter and dlrs nine mths reuter 
earn	quantech qant needs additional funds quantech electronics corp said investigating available means raising additional funds needed finance continuing operations but there assurance that will succeed the company said continues experience negative cash flow today reported loss for the third quarter ended december dlrs compared with dlr loss year before quantech said has received waivers from marine midland banks inc through may covenants its loan agreement the company said marine midland has agreed advance additional working capital loan that will personally guaranteed chairman henry ginsburg loans from marine midland are secured substantially all company assets quantech also said bernard weinblatt has rsigned president and director and until replacement found ginsberg will act chief executive and leonard hecht formerly chief executive will act chief operating officer reuter 
earn	pda engineering pdas halts software shipments pda engineering said has temporarily deferred shipmetns its patran software for ibm computers due technical problem with the program the company said the deferral will reduce its thrid quarter revenues and earnings pda said anticipates resuming shipments the fourth quarter reuter 
earn	and industries inc pfina qtr net oper shr cts cts oper net revs mln mln avg shrs year oper shr cts cts oper net revs mln mln avg shrs note net excludes tax credits dlrs dlrs quarter and dlrs dlrs year share adjusted for one for five reverse split october reuter 
acq	fair lanes fair shareholders approve merger fair lanes inc said its shareholders approved the previously announced merger with maricorp inc unit northern pacific corp under terms the merger fair lanes said each its shares common stock will converted into the right receive shares btr realty inc which owned fair lines reuter 
earn	allied research associates inc arai year net shr cts cts net sales mln mln note backlog february mln dlrs mln dlrs year before reuter 
acq	and cbtb make acquisition and bancshares inc said the board carrolton state bank carrolton has approved merger into and for undisclosed amount stock subject approval regulatory agencies and carrolton shareholders carrolton has mln dlrs assets reuter 
earn	american brands amb sees higher qtr net american brands inc said expects first quarter net earnings exceed the record mln dlrs dlrs share earned for the year ago quarter the company also said believes sales the first quarter will surpass record sales billion dlrs last year the company said unit sales american tobacco lucky strike filter line rose pct last year which led gain for lucky franchise american brands said will introduce new low priced brand cigarettes called malibu the company based gallaher ltd unit had strong performance and became the second largest contributor operating earnings american brands said reuter 
earn	martin lawrence limited editions mlle year net shr cts six cts net revs mln note qtr data not given reuter 
earn	commonwealth energy system ces dividend qtly div cts cts prior qtr payable may one record april reuter 
earn	transworld trust twt sets initial pay date transworld liquidating trust said will distribute proceeds from the sale hilton international ual inc ual its holders april the deal expected close march the day trading ceases the liquidating trust shares ual will pay mln dlrs cash shares ual common stock and mln dlrs worth ual debentures transworld but may substitute cash for the securities the initial distribution will include all the cash stock and debentures received connection with the sale the company said the shares the trust formerly represented shares transworld corp common stock the company said the balance cash the trust will used satisfy all liabilities and obligations the trust after satisfaction the payments the company will make second distribution around april said reuter 
earn	electro sensors inc else votes extra payout electro sensors inc said its board voted extraordinary cash dividend its common stock cts share payable may record april the company paid extraordinary dividend cts may reuter 
earn	home sees best first qtr since home corp said its first quarter ending march will its most profitable first quarter since the company said recorded profit dlrs for its first quarter the three following first quarters resulted losses dlrs dlrs and dlrs respectively the company said home declined put specific figure what its net earnings would for the coming first quarter but said would definitely record profit other news home said its shareholders approved amendment its company certificate incorporation relating the liability the company directors reuter 
earn	rockefeller center properties rcp ups payout rockefeller center properties inc said raised its quarterly dividend cts from cts share the dividend payable april shareholders record april reuter 
earn	sandustry plastics inc spi qtr net shr seven cts cts net revs mths shr cts cts net revs mln mln note year includes extraordinary gain cts per share reuter 
acq	first financial ffmc buys confidata first financial management corp said acquired confidata corp unit north ridge bank paying dlrs cash and pledging guarantee dlr confidata note held north ridge first financial which provides data processing services community banks and other financial institutions said the acquisition will expand its customer base reuter 
acq	combustion engineering csp unit buyout combustion engineering inc said its environmental systems and services inc unit agreed principle acquire jordan and privately held firm based portland terms the acquisition were mot disclosed combustion engineering said environmental which provides environmental sciences and management services had sales about mln dlrs reuter 
earn	pepco pom two mths feb net shr cts cts net mln mln revs mln mln mths shr dlrs dlrs net mln mln revs billion billion note full name potomac electric power year includes extraordinary gain mln cts per share for the june sale the company virginia service territory virginia power reuter 
money-fx	volcker reaffirms negotiating process washington march federal reserve board chairman paul volcker urged congress allow the government continue its flexible negotiations exchange rates through procedures such the recent paris meeting industrialized countries letter house banking committee chairman fernand germain volcker said opposed legislation formalize international negotiations exchange rates and require treasury secretary james baker disclose plans for currency intervention volcker letter was written march advance the committee march approval the proposed legislation the fundamental policy objectives the united states can best implemented more flexible framework such through the recent meeting paris finance ministers and central bank governors volcker said recommended congress not lock the administration into formal procedures for international exchange rate negotiations achieve specific exchange rate goals the achievement sustainable pattern international transactions and more stability exchange rates are ones with which remain sympathetic said the banking committee bill directs the administration start negotiations reach competitive exchange rate for the dollar runs the risk build potentially destabilizing market expectations volcker said requirement that baker disclose his intervention policy could reduce the usefulness intervention tool deal with exchange rate volatility volcker added baker has also opposed the legislation which will wrapped into major trade bill for consideration the house late april the senate will consider its version the trade bill may reuter 
earn	decision industries dic sees qtr loss decision industries corp said expects report operating loss cts share for the first quarter ending march mainly due lower profit margins and higher sales and marketing costs the quarter last year when the company quarter ended feb earned dlrs cts share revenues mln dlrs decision also said entered into agreement sell its international computerized telemarketing inc subsidiary investor group headed the unit senior management terms were not disclosed decision also said consolidated its decision development corp subsidiary into decision data computer corp the unit which designs manufactures and sells its system peripheral products said this restructuring will adversely affect its first quarter earnings but said expects realize significant savings operating expenses through the remainder the year reuter 
acq	lomak lomk strata strata merger pact lomak petroleum inc and strata corp based columbus ohio jointly said they entered into merger agreement for strata become wholly owned subsidiary lomak under the merger terms strata shareholders will receive cts per share strata common and warrants buy about shares lomak common cts per share before december for each strata common share the merger subject approval the companies boards and shareholders and agreement certain strata creditors among other things said the companies reuter 
interest	bank discount borrowings nil week the eight major new york city banks did not borrow from the federal reserve the week ended wednesday march fed spokesman said was the second half two week bank statement period that ended wednesday the banks did not borrow the first week the period reuter 
acq	americanture aaix buys american adventure americanture inc said has purchased american adventure inc goaqc for cash the assumption liabilities and the issuance american adventure inc common and preferred stock creditors shareholders and members the acquisition was pursuant chapter reorganization plan american adventure the company said the transaction involved assets valued more than mln dlrs reuter 
earn	campbell soup cpb sets quarterly dividend qtly div cts cts pay april record april reuter 
earn	equitable resources inc eqt regular payout qtly div cts cts prior pay june one record may eight note current dividend equivalent previous quarterly dividend cts per share after giving effect for stock split effective march reuter 
earn	electrosound group inc esg qtr feb loss oper shr loss one cts loss five cts oper net loss loss revs avg shrs nine mths oper shr profit cts profit cts oper net profit profit revs mln mln avg shrs note oper excludes tax losses for qtr and tax credits for nine mths reuter 
acq	viacom via sets record date for merger vote viacom international inc said set april the record date for shareholders entitled vote special meeting held vote the proposed merger arsenal acquiring corp wholly owned subsidiary arsenal holdings inc into viacom said the date the special meeting has not yet been determined reuter 
earn	courier crrc sees second quarter loss courier corp said expects report small loss for the second fiscal quarter against profit dlrs year ago the company attributed the loss competitive pressures which have cut gross margins addition said incurring significant expenses from management programs aimed reducing costs and boosting productivity said its murray printing unit has undertaken program extended work hours and salary and job cuts which will save more than mln dlrs annually reuter 
earn	continuing care associates conc qtr net shr four cts two cts net revs mths shr six cts nine cts net revs note qtr and qtr prior includes tax gain and respectively and year and year prior includes tax gain and respectively reuter 
earn	valley federal vfed splits stock two for one valley federal savings and loan association said its board declared two for one stock split for its common stock the split will effected the form pct stock dividend issued april stockholders record march reuter 
earn	atcor atco cuts dividend atcor inc said cut its quarterly dividend three cts per share from cts because depressed earnings the dividend payable april holders record april said will continue review the dividend quarterly basis reuter 
earn	terrano corp trno year dec oper net oper shr profit cts loss dlrs oper net profit loss revs mln avg shrs note earnings exclude extraordinary gain from forgiveness debt through reorganization under chapter dlrs cts share reuter 
earn	atcor inc atco cut dividend qtly div three cts cts prior pay april record april reuter 
money-fx	former herstatt dealer can sued court rules the former chief currency dealer herstatt bank which collapsed foreign exchange speculation west germany biggest banking crash can stand trial for damages court ruled the court overturned claim danny dattel that case for damages should not allowed after such long interval herstatt creditors are seeking mln marks from dattel whom they accuse causing losses the bank over mln marks manipulating forward foreign exchange contracts the crash the private herstatt bank with losses over one billion marks stunned west germany business community and led tightening banking regulations the losses were even greater than the mln marks announced recently volkswagen result fraud currency transactions ivan herstatt managing director the bank when collapsed was sentenced four and half years prison but appealed six other people associated with the bank were jailed but dattel was freed from prosecution after produced medical evidence paranoia caused nazi persecution during his childhood which might have led him take his own life reuter 
crude	next few months crucial for oil hernandez energy and mines minister arturo hernandez grisanti today told meeting regional oil exporters the next few months will critical efforts achieve price recovery and stabilize the market hernandez said while opec and non opec nations have already made some strides their efforts strengthen the market the danger reversal always present march and the next two three months will really critical period hernandez said said will able define movement either towards market stability and price recovery depending the market reversal earlier this week hernandez said venezuela oil price has averaged just above dlrs barrel for the year date opec achieves its stated goal dlrs barrel average price said venezuela should move dlrs hernandez spoke today the opening the fifth ministerial meeting the informal group latin american and caribbean oil exporters formed ministers from member states ecuador mexico trinidad tobago and venezuela are attending the two day conference while colombia present for the first time observer hernandez defined the meeting informal exchange ideas about the oil market however the members will also discuss ways combat proposals for tax imported oil currently before the congress following the opening session the group ministers met with president jaime lusinchi miraflores the presidential palace the delegations the conference are headed hernandez venezuela energy minister javier espinosa ecuador energy minister kelvin ramnath trinidad tobago jose luis alcudiai assistant energy secretary mexico and energy minister guilermno perry rubio colombia reuter 
earn	howard wolf inc hbw qtr feb net shr two cts three cts net revs nine mths shr five cts six cts net revs reuter 
earn	burr brown bbrc sees lower qtr earnings burr brown corp said its first quarter results will show profits significantly below the dlrs cts per share earned the first quarter last year the company said the profit decline will the result increase reserves for inventory valuation the increase will cover potential write downs certain inventories products used compact disc stereo systems burr brown said the possible write down being precipitated shift market demand toward higher performance products reuter 
crude	brazil oil output fell february usage brazilian crude oil and liquefied natural gas production fell average barrels per day february from the same month the state oil company petrobras said the drop was due operating problems the campos basin the country main producing area where output was down bpd from petrobras statement said consumption oil derivatives totalled mln bpd february pct february last year but down from the record mln bpd used october last year use alcohol fuel february was bpd pct above february reuter 
earn	media general inc ups qtly div cts shr from cts sets stock split 
earn	corrected media general inc ups annual div cts shr from cts sets stock split corrects show raise annual div not qtly 
earn	central capital plans three for two stock split central capital corp said planned three for two split its common and class subordinate voting shares subject shareholder approval the april annual meeting said the split would raise the amount common shares about mln from mln and subordinate voting shares about mln from mln reuter 
trade	white house unit decides semiconductors the white house economic policy council made recommendation president reagan whether retaliate against japan for alleged unfair practices semiconductor trade officials said they would not disclose the council recommendation but the officials said earlier was likely the council would call for retaliation and urge that curbs imposed japanese exports the united states the officials said might several days before reagan would act and his moves made public the senate last week unanimously called reagan impose penalities japanese exports retaliation was also called for the semiconductor industry and its chief trade union both hard hit japanese semiconductor trade pact last summer japan summer agreed stop dumping its semiconductors less than cost the united states and other nations and open its own market the products return the united states agreed hold imposing anti dumping duties japanese semiconductor shipments officials say that while japan has stopped dumping semiconductors the american market they have continued dump them third countries and that the japanese market has remained all but closed the semiconductors semiconductors the american market they have continued dump them third countries and that the japanese market has remained all but closed the semiconductors reuter 
earn	northern indiana mths feb loss shr loss cts profit dlrs net loss profit revs billion billion avg shrs mln mln note net excludes charge mln dlrs dlrs share from abandonment bailly nuclear plant northern indiana public service full name company reuter 
acq	chavin raises stake myers myr chicago real estate developer leonard chavin told the securities and exchange commission had raised his stake the meyers group pct from pct also said investment banker repesenting him met with myers officers telling them his plans for takeover and that may solicit proxies for seat myers board chavin also said takes control the firm could result delisting meyers from the new york stock exchange told the sec that while trying buy acquire the firm still may only hold the shares for investment reuter 
earn	campbell red lake mines ltd qtr shr cts cts 
acq	mcintyre mines completes unit sale mcintyre mines ltd said completed the previously announced sale all shares wholly owned smoky river coal ltd and certain related assets smoky river holdings ltd for nominal cash consideration mcintyre did not specify the cash amount the sale smoky river holdings alberta company controlled michael henson former president and chief executive mcintyre the company said mcintyre said retained unspecified royalty interest smoky river coal based net operating cash flows from the company coal properties mcintyre also said provided three mln dlr last recourse letter credit the alberta government for smoky river coal reclamation obligations the credit letter expires either when smoky river completes three mln dlrs reclaiming activities december which ever occurs first mcintyre said also remains contingently liable for certain obligations now totalling about seven mln dlrs which will reduce over time smoky river continues operate mcintyre principal asset continues its pct interest falconbridge ltd falcf reuter 
earn	media general meg ups dividend sets split media general inc said raised the annual dividend its class and class common stock cts share from cts the company said also declared two for one stock split both stock issues which subject shareholder approval increase the number authorized class shares media general said the increased dividend payable june shareholders record may the proposed stock split will paid may shares class shares the company said the company said also approved amendment its articles incorporation allowing class shares coverted into class shares the option the holder media general said the moves should broaden investor interest its class stock reuter 
acq	investment group ups stake scandinavia scf multinational shareholder group told the securities and exchange commission increased its stake scandinavia fund inc pct from pct the investors include ingemar rydin industritillbehor sweden and vbi corp the west indies reuter 
earn	campbell red lake mines ltd crk qtr net shr cts cts net revs mln mln year shr cts cts net mln mln revs mln mln note net includes mln dlr extraordinary gain qtr and mln dlr extraordinary loss involving provision for decline market value marketable securities partly offset gain from sale stake dome petroleum ltd dmp reuter 
earn	corrected american variety international inc shr loss seven cts profit cts net loss profit revs corrects year ago per share profit instead loss item that ran march reuter 
earn	great american corp sees qtr charge mln dlrs against loan loss allowance 
earn	great american gtam sees charge writedown great american corp said preliminary findings regulatory examiners its ambank subsidiary will result first quarter charge mln dlrs and writedown mln dlrs the charge will made against the allowance for possible loan losses and the writedown other real estate great american said the examiners were conducting regular examination and final report not expected for several weeks management intends include the charge and writedown response the preliminary findings great american said regulatory authorities are not requiring adjustment the previously reported financial results for great american for however great american has revised its previous estimates provisions for possible losses and has added mln dlrs the allowance account december said took the action since the charge offs will significantly deplete its allowance for possible loan losses and the economic environment does not show signs for significant improvement the near future said the additional provision increases the allowance mln dlrs representing pct the outstanding loan portfolio and pct non performing loans year end great american said its revised net loss for the fourth quarter mln dlrs dlrs per share compared net loss mln dlrs dlrs per share the year earlier reuter 
earn	marathon national bank year net shr cts cts net assets mln mln loans mln mln deposits mln mln reuter 
earn	macmillan bloedel mmblf stock split approved macmillan bloedel ltd said shareholders approved the company previously reported proposed three for one stock split reuter 
acq	ctc dealer appeal canadian tire decision ctc dealer holdings ltd said would appeal previously reported ontario court ruling upholding ontario securities commission decision block ctc bid for pct canadian tire corp ltd common shares ctc group canadian tire dealers added that also extended its tender offer march and was seeking approval extend its bid while the appeal court heard the case said alfred and david billes two canadian tire controlling shareholders backed the appeal and would seek leave appeal while third controlling shareholder martha billes supported the appeal but would not join appeal motion reuter 
earn	urs corp urs regular stock dividend qtly div five pct stock five pct stock pay april record april six reuter 
earn	ducommun inc dco quarterly dividend qtly div five cts five cts pay april record april reuter 
earn	tektronix inc tek quarterly dividend qtly div cts cts pay may record april note previous dividend restated reflect january two for one stock split reuter 
earn	mcm corp delay yearend report mcm corp said has been forced delay the release its fourth quarter and yearend results until can determine the effects its balance sheet possible increase liabilities unit earlier this month the company occidental fire and casualty unit paid mln dlrs unit mutual omaha under commutation agreement however mcm said now believes possible that the unit liabilities may exceed mln dlrs said finding any possible increase should completed april reuter 
earn	blasius industries inc blas qtr loss qtr ended feb oper shr loss one profit cts oper net profit profit revs mln mln avg shrs nine mths oper shr profit cts profit cts oper net profit profit revs mln mln avg shrs note oper excludes tax credits and for year ago qtr and nine mths oper includes writeoff related subordinated note exchange for current qtr and nine mths reuter 
earn	gainsco inc gain qtr net shr nil four cts net revs avg shrs year shr cts cts net revs mln mln avg shrs note net includes realized gains investments for qtr and for year net also includes tax credit for year ago mths reuter 
trade	gatt warns federal budget protectionism the united states emphasis its foreign trade deficit misplaced and the country real problem lies its large federal budget deficit the general agreeement tariffs and trade gatt said stressing its record trade deficit billion dlrs last year the was fuelling protectionist pressure which threatens the world trading system said annual report the fundamental problem the size the federal budget deficit could remedied only cutting government spending encouraging personal savings finance the debt said gatt also predicted world trade would grow only pct full percentage point lower than each the previous two years gatt experts urged washington resist protectionism and instead seek macroeconomic changes reduce the current account payments deficit higher private savings lower investment and smaller federal budget deficit raising trade barriers would result little reduction the current account deficit would however increase inflation and reduce world trade said the basic cause some combination insufficient domestic savings and excessive budget deficit would remain the report said gatt economists said trade expansion would slow this year because slower growth forecasts japan and some west european nations they adjust production and workforces low dollar risk higher inflation concerns over third world debt management and looming protectionism the report also said imbalances the current accounts japan west germany and the had increased the most likely explanation was that exchange rate changes were not backed changes macroeconomic policies added thus the prediction that these imbalances would reduced result the major realignment exchange rates was not borne out last year the report said gatt warned there was risk sizeable increase the inflation rate under the combined impact rapidly expanding money supply and low dollar such development could worsen the business climate increasing uncertainty and pushing interest rates which turn would adversely affect world trade but the report noted surprising rise imports the united states despite the dollar depreciation which makes foreign products more expensive suggested that resources idle the both human and underutilised factories were not geared produce the goods and services sought from abroad world trade manufactures grew only three pct about half the rate the previous year trade agricultural goods expanded just one pct continuing stagnant pattern that sector this decade gatt said developing countries exports declined significantly while their imports increased moderately although full statistics are not available yet gatt said the combined export earnings major indebted nations were sharply lower and only five them chile colombia philippines south korea and thailand had higher exports reuter 
trade	white house panel said urging japan retaliation the white house economic policy council decided recommend trade sanctions against japan for violations the japanese semiconductor agreement industry sources said they would give details noting that the white house had not commented the decision the administration has been under pressure retaliate there was immediate announcement the council decision but officials said was likely the senior policy group move curbs reflected growing american frustration over alleged unfair japanese trade practices officials said president reagan would probably act the recommendations day after consulting with aides the foreign policy implications retaliation the officials said reagan might delay retaliation for last try persuade japan abide the agreement reached last july governing trade semiconductors under pact reached last july japan was stop dumping semiconductors world markets and open its own market made semiconductors return the agreed hold imposing anti dumping duties japanese semiconductor shipments the united states said that dumping has stopped the market but has continued third countries and that the japanese market remains closed the pressure reagan retaliate included unanimous call the senate last week impose penalties japanese high technology products containing semiconductors call for retaliation also came from the semiconductor industry and from its chief trade union officials said the most likely move against japan would involve duties semiconductor based goods such televisions video cassette recorders and computers reuter 
trade	nakasone visit washington late april prime minister yasuhiro nakasone will make official week long visit the united states from april and hold talks washington with president reagan chief cabinet secretary masaharu gotoda told reporters government sources said nakasone would try resolve growing bilateral trade friction and discuss the june venice summit western industrial democracies foreign minister tadashi kuranari will accompany nakasone ministry officials said industry sources washington said the white house economic policy council was recommending trade sanctions against japan for violating the two countries agreement semiconductor trade under the pact japan pledged stop dumping microchips the and asia and open its domestic market semiconductors reuter 
earn	australia reports mln dlr year loss the british petroleum australia ltd reported mln dlr net loss for against mln dlr profit after sales fell billion dlrs from billion the british petroleum plc unit attributed the deficit stock losses arising from the drop crude prices the first half when made mln dlr loss said government compensation the form subsidies refiners partially cover stock losses together with improved crude prices the second half enabled the group oil business make modest pre tax profit australia said had not recommended dividend commenting the year performance the company said suspended operations the pct owned agnew nickel mine because losses sustained from declining nickel prices the results also included mln dlr extraordinary writedown the value the laid oil exploration drillship regional endeavour australia said had sold its stake chemical maker csbp and farmers ltd yielding extraordinary profit mln dlrs and expected finalise the sale the pct owned kwinana nitrogen the first half reuter 
interest	anz bank says will cut australian prime pct from march 
earn	jardine matheson holdings ltd jard hkg year shr cents adjusted final div cents making net mln dlrs mln turnover billion billion note profits excluded extraordinary items mln dlrs losses mln dividend payable after general meeting june books close april may note bonus issue four new shares par value cents each for every one share par value two dlrs each books close august reuter 
earn	bhp ltd net profit mln dlrs first three qtrs mln 
earn	jardine matheson holdings ltd jard hkg year shr cents adjusted final div cents making net mln dlrs mln turnover billion billion note profits excluded extraordinary items mln dlrs losses mln dividend payable after general meeting june books close april may note bonus issue four new shares par value cents each for every one share par value two dlrs each books close august reuter 
earn	the broken hill pty ltd brkn nine months first nine months ended feb shr cents net mln dlrs mln sales billion billion other income mln mln shrs billion billion final div cents same making same one for five bonus issue third qtr net mln dlrs mln third qtr sales billion billion note div pay may div and bonus reg may nine months net after tax mln dlrs mln depreciation mln mln interest mln mln and minorities mln mln but before net extraordinary profit mln profit mln nine month divisional net earnings before minorities were petroleum mln dlrs mln minerals mln mln steel mln mln corporate items and investments profit mln loss mln reuter 
earn	jardine matheson plans four for one bonus issue jardine matheson holdings ltd jard hkg said planned bonus issue four new shares cents each for every ordinary share par value two dlrs company statement said the firm expects pay total dividend four cents per share while the share dividend will maintained last year level cents share jardine matheson announced earlier pct jump net profits mln dlrs from mln shareholders funds increased billion dlrs from billion the statement said quoted chairman simon keswick saying jardine matheson achieved the good performance through satisfactory results most sections especially hong kong land ltd hkld hkg jardine fleming ltd and its business japan said the group stake about pct hong kong land which will lowered pct after the completion reorganisation long term investment and now stands level which causes financial strain problems asset imbalance keswick said the issue new shares will give the group the flexibility the future issue ordinary shares for expansion without jeopardising the shareholding stability which has been brought about through the group recent restructuring said the new issue pending approval from both the firm shareholders and warrant holders adding appropriate adjustment will made the warrant exercise price the jardine group has nearly completed its reorganisation with jardine matheson transferring its control land the new unit jardine strategic holdings ltd jardine strategic will also hold majority stakes the two companies spun off from land mandarin oriental international ltd and dairy farm international holdings ltd plus cross holdings with jardine matheson jardine matheson which had debts about billion dlrs last year will become debt free after the restructuring positive cash flow from operations and disposals continuing into has transformed our balance sheet keswick said noted the firm last year sold interests airfreight operations australian properties and trucking business and its remaining oil and gas activities jardine matheson decided make provision against its general trading business the middle east view the continuing weakness oil prices keswick said but said the operations would profitable the longer term said the firm function has evolved into one primarily strategy structure and financial and personnel policy said jardine matheson will reduce the size the board directors but will simultaneously create new pacific regional board gave further details the change jardine matheson shares rose cents dlrs midday the hong kong stock market early trading had fallen dlrs because rumours yesterday that the firm planned rights issue reuter 
earn	bhp sees strong fourth quarter but lower year net the broken hill pty ltd brkn said expects strong full year result helped sigificant investment allowance credits the fourth quarter but net will fall short the record mln dlrs earned ended may the group earlier reported its net earnings dropped mln dlrs the first three quarters ended february from mln year earlier third quarter net fell mln dlrs from mln year earlier and mln the second quarter ended november bhp said statement earnings the first nine months were the lower end share analysts forecasts yesterday range mln mln dlrs bhp held its annual dividend unchanged cents after declaring steady final dividend cents and announced one for five bonus issue shareholders registered may the bonus being made from reserves which will not qualify for tax free distribution after the introduction dividend imputation next july the bonus shares will not rank for the final dividend bhp said bhp said should not expected that the present rate dividend will maintained the increased capital the level future dividends will influenced the implications the proposed dividend imputation legislation said previously reported dividends will become tax free shareholders hands provided they are paid out profits that have borne the full pct company tax rate bhp which confined comment the third quarter said petroleum net earnings dropped mln dlrs from mln year earlier and steel profit mln from mln bhp said the petroleum division earnings fall reflected generally lower oil prices and sales volumes from bass strait while the steel decline was due five pct fall domestic sales and higher costs associated with the commissioning new plant and some operational difficulties the rise third quarter minerals net mln dlrs from mln year earlier largely reflected the increase ownership the newman iron ore project said the mln dlr extraordinary gain all the third term reflected mln profit the sale blue circle southern cement ltd offset oil acreage writedown reuter 
ship	united states lines lays off far east staff united states lines inc has laid off employees almost its entire far east staff its hong kong office general manager elliott burnside told reuters also said calls two its container ships busan south korea and kaohsiung taiwan had been cancelled declined comment local press reports that lines planned suspend operations because failure restructure its billion dlr debt but said the firm would make announcement later today lines filed for protection from its creditors under chapter eleven the federal law last november the english language south china morning post said lines decided yesterday sell its two remaining transpacific service fleets and assets and those its south america operation quoted letter company chief executive charles hiltzheimer that said the ships and assets will bought rival shipping companies subject approval their boards lines far east operations comprise offices hong kong singapore manila busan seoul tokyo yokohama kobe and osaka burnside said reuter 
acq	mitsubishi buys into danish dairy product firm mitsubishi corp mitt tok said has taken pct stake worth five mln krone danish dairy farms ltd and will jointly market its produce from april the company was set last year three major danish livestock cooperative federations expand markets for their dairy products mitsubishi official said this the first time japanese trading house has traded non japanese dairy products the world market said said mitsubishi expects the danish company annual sales billion yen its first year from april reuter 
acq	japan acts cool anger telecoms dispute japan has sought assure the not trying keep foreign equity new japanese international telecommunications company below the legal limit pct post and telecommunications ministry official said letter sent yesterday postal minister shunjiro karasawa told commerce secretary malcolm baldrige that the ministry does not object foreign participation those firms that have expressed interest but does oppose any foreign international telecommunications carrier having management role said the move appears effort dampen opposition the planned merger two rival firms seeking compete with the current monopoly kokusai denwa denshin ltd and reduce the share held any kdd rival cable and wireless plc cawl industry analysts and diplomats said one the rival firms international telecom japan inc itj has offered stake the company eight firms including general electric ford motor and citibank cci and two european companies itj president nobuo ito said yesterday cable and wireless holds pct share second potential kdd rival international digital communications planning inc along with itoh and merrill lynch and inc mer and pacific telesis international inc pac both the hold three and pct shares respectively the post and telecommunications ministry has urged the merger the two firms because says the market can only support single kdd competitor has also rejected management participation international common carrier such cable and wireless arguing international precedent for such stake exists cable and wireless director corporate strategy jonathan solomon yesterday again told ministry officials opposes merger proposal that would limit cable and wireless share less than three pct and total foreign participation about pct the ministry official said channeling the firms into single merged competitor would most probably result diluting cable and wireless share industry analysts said eventually the ministry will get what wants one combined competitor bache securities japan ltd analyst darrell whitten said political leverage may get the total foreign share certain amount but you won find any one company with extraordinarily large holding whitten said western diplomatic sources were more blunt they the ministry don want see cable and wireless with reasonable share and they think all sorts strategies reduce that share one said fumio watanabe senior keidanren leading business organization official who has been trying arrange the merger will present new outline his proposal thursday the ministry official said reuter 
acq	associated newspapers has pct northern star northern star holdings ltd said britain associated newspapers holdings plc will hold pct its enlarged issued capital after applying acquire mln shares its recently announced placement associated was one the major investors participating the previously reported placement mln shares dlrs each northern star said statement the northern new south wales regional group emerging national media force the wake the industry restructuring sparked the news corp ltd ncpa takeover the herald and weekly times ltd hwta group associated now holds pct northern star current issued capital company official said previously reported northern star raising mln dlrs through placements and subsequent one for four rights issue dlrs share the placements mln shares will number investors and mln investment group westfield capital corp ltd which arranged northern star purchase news corp television assets three newspapers and three radio stations for mln dlrs westfield will increase its stake northern star about pct from result reuter 
earn	avana defence document forecasts profits rise avana group plc defending itself against bid from ranks hovis mcdougall plc rhml rhm forecast mln stg rise profits the year said pretax profit should rise mln stg the year april from mln previously and reach mln expects share earnings rise from and and the dividend net pct increase the bid from rhm rejected the food and bakery group worth about mln stg rhm currently has pct stake purchases and acceptances reuter 
money-fx	money market deficit forecast mln stg the bank england said forecast shortage around mln stg the money market today among the main factors affecting liquidity bills maturing official hands will drain some mln stg while rise note circulation and bankers balances below target will take out around mln stg and mln stg respectively partly offsetting these outflows exchequer transactions will add some mln stg the system today reuter 
earn	mitsubishi motors australia makes mln dlr loss mitsubishi motors australia ltd mmal reported mln dlr net loss calendar from mln dlr profit turnover mln dlrs from mln mmal pct owned mitsubishi motors corp mimt and mitsubishi corp mitt said tight market meant had failed recover mln dlrs costs sustained because weak australian dollar the company said its magna car dominated its market segment with sales units against total sales were down addition export components japan increased with mln dlrs invested expand output aluminium cylinder heads per month from mmal said imported passenger car light commercial and heavy vehicle sales suffered while local manufacturing profitability was eroded sales substantially below production capacity said australian car sales fell from although mmal said lifted its market penetration pct from pct dividend was recommended reuter 
acq	alcan australia bids for alcan new zealand alcan australia ltd said will make mln dlr cash bid for all the issued shares alcan new zealand ltd dlrs each with four for three share alternative both are pct owned canada alcan aluminium ltd which will take the share swap option alcan australia deputy chairman jeremy davis said statement the remainder alcan new zealand totalled issued mln shares are broadly held while alcan australia are primarily held institutions alcan last traded dlrs while alcan australia today ended four cents down dlrs davis said the offer which subject approval the new zealand overseas investment commission was response the integration the two countries markets under the australia new zealand closer economic relations treaty alcan new zealand shareholders who accept the offer would also receive the final dividend cents share normally payable may alcan australia would invite new zealand representation its board and would apply list its shares the new zealand stock exchange davis said reuter 
earn	essilor international essi year ended dec provisional consolidated net attributable profit mln francs mln investments mln mln dividend ordinary shares francs francs dividend priority shares francs francs reuter 
earn	thyssen sees good profit despite steel losses thyssen thyh said expects post good profit despite anticipated losses its mass steel making operations this year managing board chairman dieter spethmann told the annual meeting the group was satisfied with profit developments the first half the financial year september the group other three divisions specialty steel capital goods and trading had made profit far added spethmann said income from associate companies had also been good early thyssen world group profit fell mln marks from mln reflecting costs linked its steel operations the company dividend was unchanged five marks thyssen spokesman told reuters that planned job cuts subsidiary thyssen stahl would higher than announced earlier total job losses were now expected total against original projections thyssen stahl employs some people reuter 
trade	world bank chief urges more japanese investment world bank president barber conable called japan boost investment developing nations for its own sake well that the world economy japan has the means make major contribution development the third world told about japanese businessmen and academics would pleased with additional support with pct the world total banking assets japan could more help assist indebted third world countries develop roads bridges and other infrastructure said conable said additional commercial bank investment would also japan advantage would profit from rechannelling its huge trade surplus into third world economies notably those south america china and india that are likely expand faster than those the developed world said japan now the second largest shareholder the bank concessionary lending affiliate the international development association ida has also agreed recently expand its contribution another affiliate the international bank for reconstruction and development ibrd conable noted conable said the world bank was expanding its structural adjustment loans designed encourage developing countries open their economies more free competition and trade adjustment loans could rise pct total world bank loans the near future though maybe not this year conable told reuters after his speech such loans currently account for slightly over pct reuter 
acq	henkel sells hamburg oil and fats subsidiary applied chemicals group henkel kgaa hnkg said selling its hamburg vegetable oil and fats subsidiary noblee und thoerl gmbh oelmuehle hamburg company spokesman declined give the purchase price noblee supplier specialised refined oils and fats the food processing industry had turnover mln marks last year henkel statement said the divestment was part the company strategy concentrating its core businesses for oelmuehle the acquisition noblee means access new markets the statement added reuter 
earn	elders resources ltd first half ended dec net shr cents int div cents nil net mln mln sales mln mln other income mln mln shrs mln mln note two for seven non renounceable rights issue pct five year subordinated convertible redeemable unsecured notes dlrs each each note convertible into one share div pay may div and issue reg april net after tax mln dlrs mln interest mln mln depreciation mln and minorities mln mln but before net extraordinary loss nil company owned pct elders ixl ltd elxa reuter 
trade	nakasone visit washington late april prime minister yasuhiro nakasone will make official week long visit the united states from april and hold talks washington with president reagan chief cabinet secretary masaharu gotoda told reporters government sources said nakasone would try resolve growing bilateral trade friction and discuss the june venice summit western industrial democracies foreign minister tadashi kuranari will accompany nakasone ministry officials said industry sources washington said the white house economic policy council was recommending trade sanctions against japan for violating the two countries agreement semiconductor trade under the pact japan pledged stop dumping microchips the and asia and open its domestic market semiconductors reuter 
money-fx	bank spain suspends assistance the bank spain suspended its daily money market assistance obliging borrowers take funds from the second window where wednesday rates were raised pct compared with pct for normal overnight funds money market sources said view high borrower demand the suspension was likely remain effect until april the start the next day accounting period for reserve requirements the suspension comes after the bank yesterday gave billion pesetas assistance record high for this year said billion pesetas was provided the second window reuter 
trade	nakasone hard pressed soothe anger trade prime minister yasuhiro nakasone will visit washington next month bid defuse mounting anger over japanese trade policies but western diplomats said they believed his chances success were slim boxed powerful political pressure groups and widespread opposition his tax reform plans nakasone will hard pressed come with anything new tell president ronald reagan and key congressmen they said news the week long visit starting april coincided with news that japan recorded billion dlr trade surplus last month more than pct higher than year earlier also came one day after the reagan administration economic policy council decided take retaliatory action against japan for its alleged failure live joint trade agreement computer microchips nakasone wants armed with two separate packages one designed pep japan sagging economy and imports the short term the other redirect the country the medium term away from its over dependence exports for growth but government officials said political infighting could rob both packages much their punch and might even prevent one from seeing the light day nakasone has insisted that the government would not draw package short term economic measures until after its budget passed parliament because feared that would amount tacit admission that the budget was inadequate but his hopes for quick passage the budget time for his trip have been shattered parliamentary boycott opposition parties protesting over the sales tax plan faced with the possibility that might have the virtually empty handed nakasone today ordered his ruling liberal democratic party ldp come with its own measures can then tell reagan the ldp package will form the basis the government plans without losing face parliament over the budget political analysts said officials working the government short term economic package said would probably include interest rate cuts loans government corporations deregulation measures pass some the benefits the strong yen consumers the form lower prices and accelerated public investment they said record portion state investment planned for the entire fiscal year will take place the first half probably over pct diplomats said that was unlikely enough satisfy reagan who under pressure from the democrat controlled congress take greater action cut the huge american trade deficit complement the short term measures nakasone also likely present reagan with details japan longer term economic plans high ranking advisory body headed former bank japan governor haruo maekawa expected come with final report outlining concrete steps redirect the economy days before nakasone scheduled leave for washington its recommendations are designed follow maekawa report last year economic restructuring and are likely cover such potentially politically explosive areas agricultural reform and land policy officials said while wanting make the report explicit and detailed possible they said the political realities might force them water down some the committee recommendations subcommittee considering what the japanese economy might look like the medium longer term after undergoes massive restructuring officials said the subcommittee projects that the current account surplus will fall less than two pct japan total output gross national product around last year the surplus which measures trade goods and services amounted over four pct gnp the subcommittee also projects annual economic growth for japan nearly four pct over that period and very gradual appreciation the yen about the dollar around from now reuter 
money-fx	money market given mln stg assistance the bank england said provided the money market with mln stg assistance this morning this compares with the bank estimate the shortage the system mln stg earlier revised from mln the central bank purchased bank bills outright comprising mln stg band one pct mln stg band two pct and two mln stg band three pct reuter 
money-fx	bank france again buying dollars sources say the bank france intervened the paris foreign exchange market this morning for the third successive day banking sources said like yesterday bought dollars and sold yen small amounts they said one dealer said was seen the market twice early dealing buying five mln dlrs each time other dealers also reported small scale intervention stabilise the dollar after aggressive selling overnight tokyo where the bank japan also intervened again the dollar steadied around francs after easing early trading from opening closed yesterday one major french bank said bought mln dlrs for the central bank selling yen within trading range yen the dollar compared with yesterday rate which intervention was carried out here the yen later firmed around reuter 
money-fx	bundesbank bought dollars against yen dealers say the bundesbank entered the open market the late morning buy dollars against yen concert with the bank france dealers said the bundesbank came into the market when the dollar was around yen just after had fallen below touch gmt the move had little effect with the dollar still testing yen ahead the official fixing dealers said the intervention was for fairly small amounts contrast the bundesbank activity wednesday when dealers reported bought about mln dlrs the bundesbank had comment reuter 
acq	brierley bids dollars share for progressive brierley investments ltd bil launched full takeover bid for the supermarket group progressive enterprises ltd dlrs share bil said statement the offer conditional minimum acceptances totalling mln shares just under pct the mln progressive shares issue progressive currently involved proposed merger with rainbow corp ltd rainbow earlier this week raised its stake progressive pct bil opposes the rainbow merger and analysts say bil needs pct stake progressive prevent occurring the merger involves shareholders progressive and rainbow both receiving shares new company astral pacific corp ltd one for one exchange basis the bil bid higher than the dlrs bil said would offer when first announced monday would make full bid for progressive and follows much public debate between bil and rainbow bil chief executive paul collins said last week that opposes the rainbow progressive merger because bil sees progressive shares being worth twice much rainbow bil has not disclosed how many progressive shares holds rainbow has said the merger soundly based chairman allan hawkins said last week that bil actions were aimed only dirsrupting the merger and were not the interests progressive shareholders both rainbow and progressive boards have approved the merger proposal has also been approved the commerce commission but bil bid still subject the commission scrutiny progressive shares ended dlrs rainbow and bil the close new zealand stock exchange trading today reuter 
money-fx	bank france buys dollars paris fixing dealers 
acq	union miniere takes stake pancontinental union miniere said statement that has acquired eight pct interest pancontinental mining ltd pana for sum equivalent billion belgian francs pancontinental operates gold and coal mines australia and natural gas and oil fields canada union miniere said the location its interest within the pancontinental group will decided later did not elaborate union miniere wholly owned subsidiary societe generale belgique belb reuter 
trade	india steps countertrade deals cut trade gap india searching for non communist countertrade partners help cut its trade deficit and conserve foreign exchange wheat tobacco tea coffee jute engineering and electronic goods well minerals including iron ore are all offer return for crude oil petroleum products chemicals steel and machinery trade sources told reuters most the impetus behind countertrade which began comes from two state trading firms the state trading corp stc and the minerals and metals trading corp mmtc the two state trading corporations are free use their buying power respect bulk commodities promote indian exports commerce ministry spokeswoman said adding that private firms are excluded from countertrading one trade source said india has targetted countries that depend indian domestic market recently opened foreign imports however countertrade deals still make only small part india total trading and are likely account for less than eight pct the estimated billion dlrs trade during the nine months ended december the sources said countertrade accounted for just five pct india billion dlrs trade during fiscal ended march against almost nothing official figures show however the figures exclude exchanges with the eastern bloc paid non convertible indian rupees the sources said total trade with the soviet union involving swaps agricultural produce and textiles for soviet arms and crude oil estimated billion dlrs fiscal against three billion indian countertrade which being promoted mainly help narrow the country large trade deficit still insignificant compared with agreements reached indonesia venezuela and brazil the trade sources said the trade deficit which hit estimated record billion dlrs expected decline billion the current fiscal year but the push include non communist countries countertrade also due other factors including the slow growth foreign reserves tight debt repayment schedule shrinking aid and trade protectionism businessmen said one source said india showing more dynamism promoting countertrade deals than the past when the deals were made discreetly because they break gatt rules member the general agreement tariffs and trade gatt india cannot officially support bartering the mmtc recent countertrade deals include iron ore exports yugoslavia for steel structures and rails mmtc recent global tenders now include clause that preference will given parties who accept payment kind for goods and services sold india trade official said adding that the policy remains flexible also take into account other factors such prices which the goods and services are offered india the trade official said early this year the commerce ministry quietly told foreign companies interested selling aircraft ships drilling rigs and railway equipment india that they stood better chance they bought indian goods services return the trade sources said illustrating the point the official said south korean firm recently agreed sell drilling platform worth mln dlrs the state run oil and natural gas commission reuter 
earn	costco wholesale corp cost qtr feb net oper shr five cts six cts oper net revs mln mln avg shrs mln first half oper shr six cts five cts oper net revs mln mln avg shrs mln mln note operating net excludes gains dlrs three cts share dlrs two cts share quarter and dlrs three cts share dlrs two cts share year from tax loss carryforward reuter 
earn	macmillan bloedel mmb stock split approved macmillan bloedel ltd said shareholders authorized previously announced three for one stock split applicable holders record april nine the company said its stock will begin trading split basis april subject regulatory approvals reuter 
ship	stormy weather disrupt north sea shipping very stormy weather likely the north sea through saturday disrupting shipping the region private forecaster accu weather inc said rain will accompany the strong winds that are expected over the north sea today into tonight saturday will also very windy and cooler with frequent showers winds today will southwest mph but will become west northwest tonight and saturday mph waves will build feet today and tonight and continue saturday wind and waves will not diminish until late the weekend reuter 
earn	natioonal medical enterprises inc qtr oper shr cts cts 
ship	liberian ship grounded suez canal refloated liberian motor bulk carrier the tonnes nikitas roussos which was grounded the suez canal yesterday has been refloated and now proceeding through the the canal lloyds shipping intelligence said reuter 
earn	national medical enterprises inc nme qtr periods ended feb oper shr cts cts oper shr diluted cts cts oper net mln mln revs mln mln avg shrs mln mln nine mths oper shr dlrs dlrs oper shr diluted dlrs dlrs oper net mln mln revs billion billion avg shrs mln mln note year ago nine months operating net excludes loss mln dlrs two cts share from discontinued operations reuter 
ship	abidjan port activity rises the tonnage goods passing through ivory coast main port abidjan rose pct last year according the ivorian chamber commerce its monthly report said mln tonnes goods passed through the port last year compared with mln the year before exports fell mln from mln tonnes while imports rose mln from mln reuter 
interest	top discount rate bill tender rises pct 
earn	porsche expects improvement sales sports carmaker ing porsche pshg said expects post satisfactory profit with domestic volume sales seen lower but sales anticipated higher managing board chairman peter schutz said domestic sales were expected fall the year ending july from sales should rise more than from last year schutz made specific profit sales forecasts last month the company said expected net profit fall below mln marks this year from mln marks for sales porsche expects its overall world volume this year above sales last year stood schutz said his expectations satisfactory profit were based combination price rises and cost cutting added the expected drop west german sales this year would the result the called grey market for porsche cars said when the dollar was strong against the mark many porsches had been bought locally west germany for illegal export the porsche has previously said domestic sales the first half fell from the same period the fact that sales will account for larger percentage overall sales this year than before does not pose problems for profit the porsche board said the last months has raised prices around pct without suffering any decline sales the same time porsche has hedged its dollar denominated business for the business year finance director heinz branitzki branitzki put porsche hedging costs mln marks speech the annual meeting schutz said third party orders placed with porsche engineering research centre weissach were rising and should top mln marks this year for the first time porsche net profit dropped sharply mln marks from mln marks reuter 
acq	dixons group plc buys cyclops shares now owns pct 
earn	tektronix inc qtr shr ctws cts 
earn	american medical international inc ami payout qtly div cts cts prior qtr payable may one record april reuter 
acq	dixons boosts cyclops cyl ownership pct dixons group plc said bought about cyclops corp common shares boosting its holdings the company stock about pct those now outstanding and pct fully diluted basis dixons said the stock was purchased single block transaction dlrs per share the company said expects proceed with merger and has advised cyclops intends increas the per share amount paid the merger dlrs form dlrs for each the about remaining cyclops shares outstanding fully diluted basis reuter 
earn	tektronix inc tek qtr net qtr ends march shr cts cts net mln mln revs mln mln nine mths shr dlrs cts net mln mln revs billion billion note per share for and qtr prior restated reflect two for one stock split jan reuter 
earn	westinghouse says expects least pct earnings shr growth through 
acq	metropolitan financial mpc acquire company metropolitan financial corp said signed agreement acquire the stock closely held rothschild financial corp paul minn details the purchase were withheld said rothschild originated mln dlrs mortgage loans and its loan servicing portfolio stands billion dlrs officials both companies estimated their combined efforts could produce originations mln dlrs and loan servicing portfolio well over billion dlrs yearend reuter 
money-fx	money market given further mln stg help the bank england said gave the money market further mln stg assistance the afternoon session this takes the bank total assistance far today mln stg and compares with its forecast shortage which earlier revised mln stg from mln the central bank purchased bills band one pct comprising mln stg bank bills four mln stg local authority bills and one mln stg treasury bills also bought mln stg bank bills and mln stg treasury bills band two pct reuter 
money-fx	austria does not intervene support dollar the austrian national bank did not intervene the foreign exchange markets today support the dollar deputy banking department chief herbert danzinger told reuters denied suggestion dealer one vienna bank that the national bank had sold marks support the currency senior dealers creditanstalt and girozentrale austria two largest banks said they would have been aware any national bank intervention any dollar purchases the bank today were for purely day day purposes they said reuter 
acq	hanson trust han arm sells chemical unit hanson trust plc han said its subsidiary hanson industries sold pcr inc specialty chemicals unit for mln dlrs cash chemical partners inc hanson industries said acquired pcr inc part its purchase scm corp pcr inc posted operating loss dlrs sales mln dlrs the company said reuter 
acq	elders extends offer for carling keefe ckb elders ixl ltd australia said wholly owned ixl holdings canada inc extended its previously announced offer acquire all outstanding shares carling keefe ltd midnight april from march the dlr share offer being extended for elders obtain canadian federal government approval for the acquisition control carling elders said its application investment canada still being processed under normal review procedures march shares pct carling stock has been deposited under the offer elders said elders also said arranged for credit facility mln dlrs shared equally between two canadian banks which would available acquire shares under the offer reuter 
earn	standard bred pacers stbd loss shr loss cts loss seven cts net loss loss revs note full name company standard bred pacers and trotters inc reuter 
acq	multivest mvst ends merger talks sets purchase multivest corp said has ended talks oryx capital corp possible acqusition multivest and starting offer dlrs share for all the oustanding shares industries inc multivest said its tender offer scheduled expire april reuter 
earn	mobile communications corp mccaa net shr cts cts net mln mln revs mln mln avg shrs mln mln note net includes gain mln dlrs from sale dec pct interest its cellular telephone operations bellsouth corp net income also reflects non recurring charges dlrs recorded the fourth qtr primarily reflecting revaluation assets full name company mobile communications corp america reuter 
earn	tokheim corp tok qtr feb net shr cts cts net rev mln mln reuter 
earn	spartech sptn sets reverse split debenture sale spartech corp said plans one for five reverse stock split and has filed registration statement with the securities and exchange commission covering planned mln dlr offering convertible subordinated debentures due spartech said the debenture offering will underwritten kidder peabody and the company said the split will effective stock record april eight reuter 
acq	restaurant associates sets qtr gain restaurant associates industries inc said expects record pretax gain mln dlrs the first quarter from the sale and lease real estate the company said received mln dlrs partial payment connection with the sale property manhattan and additional one mln dlrs for early termination the lease for its headquarters which was relocated february the outstanding balance about mln dlrs the sale the property will paid closing scheduled for sept said the first quarter ended march restaurant associates reported net income dlrs seven cts share sales mln dlrs reuter 
acq	hudson bay sell wholesale unit hudson bay said signed letter intent sell its hudson bay wholesale unit private investment group terms were not disclosed the company said normal paul member the private investment group will head hudson bay wholesale management the unit existing management group headed ron mcarthur will also participate ownership the company said without elaborating the wholesale unit major distributor tobacco confectionary and other products through wholesale and vending branches canada sales were mln dlrs hudson bay said the sale its wholesaling unit part program concentrate financial and management resources its core business department stores and real estate reuter 
earn	henley group inc heng qtr loss shr loss dlrs net loss mln loss mln revs mln mln avg shrs mln year shr loss dlrs net loss mlnm loss mln revs billion billion avg shrs mln note the company had shares outstanding march had shares oustanding losses include pre tax restructuring charges mln dlrs both periods mln dlrs both periods year loss also includes charge about mln dlrs for amortization good will reuter 
earn	baybanks inc bbnk raises qtly dividend qtly div cts cts prior pay may one record april reuter 
earn	tokheim tok sees improving sales tokheim corp manufacturer electronic petroleum marketing systems said expects shipments tokheim convenience systems tcs its new family dispensers improve its sales trend throughout tokheim said shipments tcs will begin the second quarter earlier the company reported first quarter ended february earnings mln dlrs cts share from dlrs cts share last year first quarter sales rose well said mln dlrs from mln dlrs the prior first quarter reuter 
acq	safety kleen buy mckesson mck unit safety kleen corp said agreed principle acquire mckesson envirosystems subsidiary mckesson corp said mckesson envirosystems current annual gross revenues are about mln dlrs the company collects flammable solvents from its industrial customers for fee after which analyzes and processes the solvents before they are burned reuter 
earn	westinghouse sees higher earnings growth westinghouse electric corp said earnings per share growth will exceed sales growth and will the double digit range through the company earned dlrs share revenues billion dlrs speaking meeting for securities analysts douglas danforth westinghouse chairman said the company sales growth target about pct year for and given economic environment that remains moderate growth course also said the company will make acquisitions but did not specify particular targets paul lego senior executive vice president told the analysts our plans not call for multibillion dlr acquisition even though our balance sheet can handle one despite this disclaimer identify major acquisition that has significnt value creating for westinghouse will consider said the company would consider acquisition candidate that area compatable with westinghouse primiary businesses danforth said the corportation was focused several key areas including defense electronics financial services broadcasting electrical products and services for construction and industrial and utility markets danforth added that expects westinghouse sales grow faster than the markets the corportation serves and surely faster than gnp said earnings per share growth expected consistently exceed the standard and poor index and return equity will remain the pct range leo yochum senior executive vice president for finance told the analysts will consider buying back stock but there are current plans for such buyback yochum said that the company current level earnings could comfortably maintain higher debt levels and that westinghouse will use its debt capacity improve shareholder value last year westinghouse established mln dlrs restructuring reserve used for plant consolodation assett writedowns and other items yochum said the company spent mln dlrs that reserve and will spend mln dlrs the reserves the balance will used also said capital expenditures should about mln dlrs reuter 
acq	clearwater fine foods acquires channel foods clearwater fine foods inc canadian company minority owned hillsdown holdings plc london has acquired channel foods ltd cornwall england producer chilled smoke fish and pate products hillsdown said privately held clearwater was sold for three mln stg the company said reuter 
earn	galactic resources ltd galcf year loss shr loss dlrs net loss mln revs mln note prior results not given shr and net include change accounting policy resulting loss mln dlrs dlrs share results funds reuter 
acq	hanson trust sell chemicals unit hanson trust plc hnsn said its subsidiary hanson industries inc sell pcr inc speciality chemicals unit for mln dlrs cash chemical partners inc pcr had sales mln dlrs fiscal and operating loss dlrs reuter 
acq	investor paul bilzerian has pct pay pak stake may seek control 
trade	may revoke japanese financial licenses the british government may revoke the licences selected japanese banks and securities companies operating london financial city when they come for renewal next summer progress not made towards opening japan markets foreign competition government sources said can say yes are going revoke licences but this definitely being considered official said his comments came after the government was formally urged today cross section influential mps take joint retaliatory action with the united states against japan britain has grown increasingly impatient with japanese trade practices there sense urgency here now but the emphasis securing not undermining our interests japan another government official told reuters prime minister margaret thatcher said thursday that britain would not hesitate use new powers contained the financial services act and the banking bill retaliate against countries that not offer reciprocal market access she clearly had japan mind government sources said the last year showed trade defict with japan billion stg official figures show parliamentary motion signed mps today urged the government coordinate action with the president the united states and through the department trade and industry suspend all further applications from japanese communications companies for equipment approval the british approvals board for telecommunications and all further applications from japanese financial institutions for licences until authorities japan stopped imposing what the mps called restrictive conditions the bid cable and wireless plc cawl and its and japanese partners for stake japan international telecommunications market the motion for retaliatory steps came from cross section mps reflecting the strength feeling inside parliament parliamentarians said their action would increase pressure the conservative government take firm action officials said another option now being considered the refuse issuing new banking licences japanese institutions that could done under the government proposed banking bill now moving through parliament japanese financial institutions are authorised deal london which are banks tokyo london based firms are authorised financial business officials said the new financial services and banking acts offer britain alternative for retaliation which would otherwise denied under legally binding international trade agreements the financial services act gives trade and industry secretary paul channon power stop firms from engaging investment banking and insurance one official said this point has been made the japanese official level number times the official added britain and france are now working together urge that the european community take collective action against japan but working within treaties another official said british trade minister alan clark said this week radio interview that the european community should build barriers against japanese imports through certification procedures similar those facing european exporters japan there comes point where you cannot resist any longer said adding such barriers can put place overnight clark said the issue reciprocity regarding visible trade strikes the basis whether british industry have fair access extremely large market japan which itself very dominant position certain aspects our own domestic market really question fairness the situation only likely worsen following news that japan trade surplus with the rest the world rose more than pct february year year billion dlrs from billion january political sources said but clark said his interview that the issues visible trade and access financial markets should kept separate should britain decide act against japanese financial institutions would most likely focus the smaller rather than larger ones minimise any risks its role global business centre government sources said japan four largest securities houses are members the london stock exchange washington white house officials said president reagan was ready impose retaliatory trade action against japan for breaking its semiconductor agreement with the united states there was immediate indication when reagan might act the recommendations his economic policy council curb japanese exports the united states but officials said the move could come today early next week trade sources said the actions being weighed reagan included tariffs wide variety japanese exports which use semiconductors reuter 
acq	lsb industries lsb agrees acquire bank lsb industries inc said agreed acquire northwest federal savings and loan association for dlrs part the agreement lsb said also would transfer assets valued not less than mln dlrs northwest federal which located woodward okla reuter 
earn	universal holding corp uhco qtr net shr net profit profit revs year shr net loss profit revs mln reuter 
acq	bilzerian may seek control pay pak pnp investor paul bilzerian disclosed holds pct stake pay pak stores inc common stock and considering seeking control the retail building material firm bilzerian said and tampa fla investment firm controls called bicoastal financial corp may acquire additional shares they may seek acquire one more positions pay pak board directors acquire controlling interest the company shares tender offer otherwise the statement was made filing with the securities and exchange commission bilzerian said his course action would depend the company prospects market conditions and other factors bilzerian said and bicoastal made net purchases shares the new york stock exchange jan march his pct stake makes total shares reuter 
interest	fed expected add reserves economists say the federal reserve expected enter the government securities market add reserves today economists said they said the fed would probably supply temporary reserves indirectly arranging one two billion dlrs customer repurchase agreements after averaging pct yesterday federal funds were opened pct and remained that level reuter 
acq	allegheny int sells three overseas units allegheny international inc said sold three overseas subsidiaries reil corp ltd north sydney australia investment group terms were not disclosed the units sold were sunbeam corp ltd australia sunbeam new zealand ltd and victa ltd the units make and distribute various products including lawn mowers small appliances and sheep shearing equipment they employ total about reuter 
earn	galactic galcf adopts conservative accounting galactic resources ltd earlier reporting loss mln dlrs said adopted more conservative accounting policy similar other gold producers accounting for exploration costs result the company retroactively charged all past exploration and related administration costs incurred its properties against expenses and under the new policy all future exploration and related administration costs will written off expenses rather than capitalized intangible asset said galactic said the accounting change resulted mln dlr charge against earnings did not immediately disclose the affect the change prior years results the new accounting policy not expected adversely affect working capital position future cash flows the company ability conduct ongoing business operations said galactic said the charge includes mln dlrs costs concerning its summitville mine leach pad and mln dlrs waste removal costs dyke construction and other mine developments galactic said under the prior accounting policy the summitville mine expenses would have been amortized over the life the mine and charged against future earnings the change will also result lower depreciation and amortization charges against income about dlrs ounce gold produced future periods based total estimated reserves ounces galactic said march leaching production summitville expected exceed ounces raising gold equivalent production since the june start leaching ounces reuter 
earn	mars store mxxx sees qtr year loss and charge mars store inc said expects report loss about dlrs for the fourth quarter and about mln dlrs for the fiscal year ended january result the loss the company said has decided discontinue the operations its big value outlets division which will result yet undisclosed one time charge against earnings for the year the estimated mln dlrs year loss about cts share compares with earnings dlrs cts share recorded last year the fourth quarter loss was affected abnormally high inventory shrinkage lower than planned sales and higher markdowns related increased promotional activity all which reduced fourth quarter gross margins the company said order concentrate the company core business the operation discount and promotional department stores mars said has decided close the big value division reuter 
acq	honeywell hon completes computer business sale honeywell inc said has completed the sale pct its honeywell information systems his computer business compagnie des machines bull france and nec corp japan for mln dlrs cash honeywell said will use much the money reduce short term debt incurred last december when the company purchased the sperry aerospace group honeywell said the sale his has created new dedicated computer company jointly owned bull nec and honeywell the new privately held company named honeywell bull pct owned honeywell inc pct bull and pct nec the new company said honeywell added that terms the agreement with nec and bull allow reduce its current pct stake the new company pct the end selling just over half its shares bull book value the time will determine the move pricing honeywell said honeywell chairman and chief executive officer edson spencer said the move the last major step honeywell restructuring the leading worldwide supplier automation and controls for buildings industry aerospace and defense honeywell now focusing its management technical and financial resources high market share business spencer said honeywell said expects honeywell bull largest customer purchasing computers for its own internal data processing for integration into honeywell buidling and industrial automation systems and for resale the governement honeywell said his federal systems division now wholly owned unit honeywell inc and has been named honeywell federal systems inc honeywell said accounted for his discontinued operation and will account for its future interest cost basis recording any dividends received honeywell bull said will continue develop its product line and build its business integrated systems for networking database management and transaction processing the new company said its board will have nine members including the chairman and chief executive officer bull will have four members honeywell two and nec one the new company which began worldwide operations today said added that jacques stern bull chairman and chief executive officer will serve honeywell bull chairman the board while jerome meyer formerly executive vice president honeywell information systems was named president and chief executive officer reuter 
earn	innopac inc six mths february net shr cts cts net revs mln mln reuter 
earn	cornerstone finanical corp cstn sets payout qtrly div eight cts eight cts prior pay may record april reuter 
earn	cistron biotechnology cist sets dividend cistron biotechnology inc said will pay stock dividend declared prior the initial public offering its common stock august stockholders record prior the common offering payment the dividend was contingent the closing bid price the common stock averaging two dlrs more per shares for the trading days within any consecutive ten day period ending before february the company said that the contingency has been fulfilled payment the stock dividend increases cistron outstanding common stock shares from shares reuter 
earn	werner enterprises inc wern qtr net qtr ends feb shr cts cts net revs mln mln avg shrs mln mths shr cts cts net revs mln mln avg shrs mln reuter 
earn	revenue properties ltd year loss shr loss eight cts loss cts net loss loss revs mln mln reuter 
acq	southam sell pct interest brandon sun southam inc said agreed sell its pct interest sun publishing ltd which publishes the brandon sun majority shareholder publisher lewis whitehead terms were not disclosed southam said the proposed sale resulted from offer made whitehead whose family has had majority control the newspaper since the brandon sun has daily circulation reuter 
earn	glamis gold glgvf sets common stock split glamis gold ltd said will ask shareholders april extraordinary general meeting approve one and one half for one common share split record date for the split will set the near future the company said reuter 
earn	nuclear metals nucm has delay orders nuclear metals inc said delay receiving certain new orders will result negligible earnings per share for its fiscal second quarter however the company said has been assured that the orders will placed beginning its fiscal third quarter and that expects strong rebound earnings for the third and fourth quarters reuter 
acq	first sarasota holders approve acquisitions first sarasota bancorp said its shareholders approved the acquisition its city commercial bank subsidiary first union corp func first union national bank florida the purchase price the outstanding shares about mln dlrs the transaction subject regulatory approval expected completed during the second quarter after completing the city commercial acquisition and four other acquisitions having combined assets mln dlrs first union will have assets billion dlrs reuter 
earn	source venture capital inc year shr profit nil loss nil net profit loss revs mln reuter 
acq	lsb lsb pact acquire northwest federal lsb industries inc said entered into agreement acquire northwest federal savings and loan association woodward oklahoma upon completion the acquisition lsb would pay about mln dlrs the shareholders northwest and transfer northwest federal certain assets having net current appraised value not less than mln dlrs completion this transaction northwest federal would subsidiary lsb non consolidated wholly owned financial subsidiary the acquisition subject obtaining approvals waivers and forbearances from the federal home loan bank board and other government approvals reuter 
earn	bramalea ltd year net shr cts cts net mln mln revs mln mln avg shrs mln mln reuter 
trade	reagan ready impose trade curbs against japan president reagan was ready impose retaliatory trade action against japan for breaking its semiconductor agreement with the united states white house officials said there was immediate indication when reagan might act the recommendations his economic policy council curb japanese exports the united states but officials said the move could come today early next week trade sources said the actions being weighed reagan include tariffs wide variety japanese exports which use semiconductors the sources said the tariffs could slapped personal computers television receivers and laser printers with the aim penalizing japan major electronic firms including nec corp hitachi ltd toshiba corp and fujitsu ltd they said reaan could also delay invoking sanctions for week two giving japan final opportunity end the dumping practice but added that negotiators had already held extensive talks with the japanese avail reuter 
earn	southwestern public service sps qtr net shr cts cts net mln mln revs mln mln mths shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln note year ago restated reuter 
earn	nelson corp qtr net shr loss two cts loss dlrs net profit loss revs year shr profit cts loss dlrs net profit loss revs note current qtr per share figure adjusted reflect provision for preferred stock dividends reuter 
earn	southwestern bell votes three for one stock split pct dividend increase 
earn	imatron inc imat qtr loss shr loss cts loss seven cts net loss loss sales avg shrs year shr loss cts loss cts net loss loss sales avg shrs reuter 
acq	plaza group completes merger transaction plaza group said completed transaction which merged its wholly owned subsidiary flyfaire international inc into shefra inc public company return for controlling interest shefra with completion the merger shefra changed its name flyfaire international inc flyfaire with annual sales mln dlrs engaged the wholesale vacation travel business reuter 
earn	conagra inc cag regular dividend set qtly div cts cts prior pay june one record april reuter 
earn	llc llc amalgamated report six months net valhi inc reported earnings llc corp and the amalgamated sugar for the six month period ended december effective march amalgamated merged into llc which changed its name valhi the following results reflect the operations the companies prior the merger llc corp reported net income mln dlrs cts share revenues mln dlrs compared mln dlrs cts share revenues mln dlrs year ago this year net includes extraordinary loss dlrs and gain mln dlrs net included extraordinary gain mln dlrs valhi said amalgamated reported net income dlrs per share mln dlrs revenues mln dlrs compared net loss dlrs cts share revenues mln dlrs last year valhi said effective december changed its fiscal year end from june december reuter 
interest	gros denies court action against brazil central bank president francisco gros denied rumours that foreign creditors had filed court actions against brazil seek payment its billion dlr debt there court action against brazil gros said television interview brazil last month suspended interest payments its billion dlr debt commercial banks and yesterday suggested extension short term credit lines for days until may media reports said some banks rated small among brazil creditors had filed lawsuits against the decision suspend interest payments gros said negotiations with the commercial creditors would start within two weeks when and finance minister dilson funaro attend council meetings the international monetary fund imf washington brazil facing the issue very carefully are seeking negotiation that will give the country space grow because only with growth will able meet our commitments gros said reuter 
earn	southwestern bell sbc votes split ups payout southwestern bell corp said its board voted three for one stock split and increased the dividend pct dlrs share post split basis the increased dividend will cts share payable may one holders record april southwestern bell said the stock split its first said shares will mailed may record may four reuter 
earn	honeywell bull sees revenue growth honeywell bull inc owned honeywell inc hon cie des machines bull and nec corp said expects its revenues increase pct over its current level about billion dlrs honeywell bull president jerome meyer also told the press conference the company was profitable adding the company aimed improve profits over time honeywell inc earlier today received mln dlrs cash for the sale pct its computer business bull and nec honeywell will retain pct interest honeywell bull and bull will own equal amount nec owns pct the company meyer who had been executive vice president honeywell information systems said honeywell bull would work closely with nec and bull both developing new products and marketing computers multi national companies haven been growing fast like but are going turn that around meyer said said business was soft the said the company was reorganizing its distribution programs and its staff reassigning and laying off selected employees also said the company was hiring new workers honeywell bull chairman jacques stern who also chairman bull said believed the computer industry could fast growing market for companies that provide the type computers customers want don believe the slump the market said the computer company would offer open systems that customers would not tied specific vendor architecture and will also focus tying computers together through communications networks reuter 
acq	hanson han sell bond delivery service hanson industries the arm hanson trust plc said contracts have been exchanged london for the sale bond delivery service rockwood holdings plc for about mln dlrs cash completion subject rockwood shareholder approval its most recent financial year bond which was purchased hanson trust plc its acquisition imperial group plc april made dlrs pre tax profit sales mln dlrs net tangible assets are mln dlrs hanson said reuter 
acq	westinghouse interested merger radio unit westinghouse electric corp said still open merger its radio operations with general electrics nbc radio operations have left the door open and reassessing the merger and are westinghouse chairman douglas danforth told reuters the conclusion meeting before analysts danforth said continues see value merger between westinghouse radio operation and those nbc discussions with nbc the merger the two companies radio units were suspended december danforth reaffirmed that westinghouse interested acquisitions saying the company leaning toward acquisitions the mln mln dlr range said however that larger acquisitions are possible they are the right fit danforth who earlier today said expects earnings growth the double digit range through said comfortable with analysts predictions dlrs dlrs share this year the company earned dlrs share said the company has targeted waste energy systems and hazardous waste removal some the emerging growth areas for the company reuter 
earn	computer network technology cmnt qtr loss shr loss eight cts loss eight cts net loss loss rev nil year shr loss cts loss cts net loss loss rev nil note company full name computer network technology corp revenues because was initial year product revenue reuter 
ship	biffex looking join new futures exchange the baltic international freight futures exchange biffex said agreed pursue negotiations with other futures markets the baltic exchange with view merging into new futures exchange legal advisers have already been instructed implement amalgamation the london potato futures association the soya bean meal futures exchange and the london meat futures exchange the london grain futures market has also discussed merging with the other markets the aim the merger seek recognised investment exchange status required the financial services act reuter 
earn	canadian satellite communications six mths net period ended february oper shr profit six cts loss cts oper profit loss revs note current shr and net exclude tax gain dlrs five cts share full name canadian satellite communications inc reuter 
acq	french ministerial meeting held cgct sale finance minister edouard balladur industry minister alain madelin and telecommunications minister gerard longuet met for more than hour today discuss the imminent sale the french telephone switching group cie generale constructions telephoniques spokesman for longuet said decision was announced result the meeting and the french government has given itself until the end next month choose between the candidates the sale cgct which controls pct france telephone market has been priced mln francs and three international consortia are battling for the right buy west germany siemens sieg has teamed with the french group jeumont schneider opposition bid from the group att and the dutch philips telecommunications pglo association with the french telecommunications firm sat societe anonyme telecommunications third bid has been lodged sweden ericsson eric allied with french defence electronics group matra matr and bouygues bouy reuter 
earn	dean foods qtr net shr cts cts net sales mln mln nine mths shr dlrs dlrs net sales billion mln reuter 
earn	dean foods raises dividend qtly div cts cts prior pay june record may reuter 
earn	doskocil dosk shareholders vote reverse split doskocil cos inc said its shareholders approved one for reverse stock split which expected become effective april the company said the reverse split will reduce the its outstanding shares about six mln from mln reuter 
earn	education systems espc year net shr cts cts net revs note current net includes non recurring loss investments full name education systems and publications corp reuter 
acq	borg warner amid rumors irwin jacobs sold stock arbitrageurs say 
acq	minstar inc said sold all mln its borg warner shares 
acq	minstar inc said still interested acquiring borg warner 
acq	corning glass works glw buys fiber optic stake corning glass works said bought pct interest technology dynamics inc woodinville wash company involved research and development fiber optic sensors the purchase price was not disclosed privately held technology dynamics plans introduce its first line fiber optic sensors later this year corning glass said reuter 
earn	first national corp ftnc qtr shr loss cts loss cts net loss loss revs nil year shr loss cts loss cts net loss loss revs nil reuter 
earn	beard bec year loss shr loss cts profit dlrs net loss profit revs mln mln note net includes gains from sale uspci inc upc stock mln mln year ago net includes loss from discontinued operations mln reuter 
earn	essex communications corp essxa year loss shr loss cts loss cts net loss loss revs mln mln note year ago resulted restated exclude michigan cable systems sold reuter 
earn	denning mobile robotics inc gard qtr loss shr loss nine cts loss cts net loss loss avg shrs year shr loss cts loss cts net loss loss avg shrs note company has revs product development stage shr and avg shrs data reflect for reverse split november reuter 
earn	scott liquid gold inc year oper net oper shr two cts cts oper net revs mln mln avg shrs note excludes gains dlrs two cts shr dlrs nine cts from benefit tax loss carryforwards reuter 
money-fx	taiwan study suspending forex controls premier kuo hua ordered financial officials quicken the pace relaxing foreign exchange controls and study the possibility suspending the controls cabinet statement said the statement quoted telling finance ministy and central bank officials the relaxation was needed help reduce taiwan surging foreign exchange reserves which reached record billion dollars this month finance minister robert chien told reporters his ministry and the central bank would work jointly new measures ease the controls but did not give details said the government could maintain the framework the foreign exchange controls while finding ways ease them the controls would used during emergency taiwan reserves have resulted largely from its trade surplus which hit billion dlrs and billion about pct the surplus was from taiwan trade with the united states according official figures but said that while easing the controls would help reduce the reserves would not substantially short time economists and bankers said the new decision resulted from growing pressure from the united states taiwan largest trading partner which buys almost half the island exports ming jen economic professor soochow university told reuters the decision came little bit late but was better than never fei vice president first commercial bank said the government should rapidly relax its foreign exchange controls and open its market wider help balance trade with its trading partners especially the united states the liberalisation both imports and foreign exchange controls will not only help our trading partners but also help our own economic problems said said the mounting foreign exchange reserveshelped boost taiwan money supply pct the year end february reuter 
trade	japan chip makers angered sanction plans japanese computer chip makers reacted angrily news the united states plans take retaliatory action against them for allegedly failing live agreement trade computer microchips electronic industries association japan eiaj chairman shoichi saba stated eiaj believes that premature and even irrational attempt assessment the impact the agreement and our efforts comply with only six months after concluding the agreement urge governmental authorities reconsider the decision made evaluate fairly the results japanese efforts implementing the objectives the agreement and resist emotional biases said yesterday washington announced plans slap much mln dlrs tariffs japanese imports retaliation for what sees japan failure comply with the terms the pact the agreement struck late last year after months heated negotiations called japan stop selling cut price chips world markets and buy more american made semiconductors salvage the pact tokyo has instructed its chip makers slash production and has helped establish multi lateral organisation designed promote chip imports saba said that japanese chip companies have pledged three mln dlrs over the next five years the new organisation and expressed regret that american company has seen fit join this suggests that american semiconductor manufacturers may not really interested participating the japanese market said reuter 
earn	oversea chinese banking corp ltd ocbm year shr cts cts fin div cts gross cts group net mln dlrs mln note fin div pay june record may reuter 
earn	united overseas bank ltd uobm year shr cts cts fin div pct gross pct group net mln dlrs mln note fin div pay may record april reuter 
earn	straits trading ltd stcm year shr cts cts fin div cts cts group net mln dlrs mln turnover mln dlrs mln note fin div pay may record may reuter 
earn	singapore land ltd lndh first half feb shr cts cts int div nil nil group net mln dlrs mln turnover mln dlrs mln note the company said group net profits for the year ending this aug should amount mln dlrs reuter 
money-fx	official wants arab fund help lebanese pound lebanese central bank vice governor meguerditch bouldikian called for the establishment arab fund assist the lebanese pound which has lost more than pct its value against the dollar since january bouldikian told arab exchange dealers conference the bank would continue take measures defend the currency but said lebanon needed foreign support for its war battered economy now more than ever before expect common effort between the central bank and arab central banks and monetary authorities create arab fund support and preserve the value the currency when needed said twelve years civil war have devastated productive sectors the lebanese economy and created gaping trade and budget deficits bouldikian said recent government measures had succeeded reducing demand for imports and increasing exports these are encouraging factors but the war has not ended yet said believe that with just political solution acceptable all sides confidence will return and this will benefit the lebanese pound and lebanon the meantime said the central bank had four main goals use surplus liquidity finance the budget deficit increase the role commercial banks and non bank financing institutions financing the deficit limit the transfer lebanese pounds into foreign currency deposits protect the financial health commercial banks reuter 
money-fx	china postpones plan scrap parallel currency chinese vice premier tian jiyun said plans scrap the country parallel currency foreign exchange certificates fecs had been postponed due objections from foreign businessmen and others but tian told news conference the chinese government still considered fecs unsatisfactory asked about the current state plans abolish the fecs tian said have decided postpone the question whether will done the future will done according the evolution the situation said many people including foreign businessmen had raised objections the plan abolish the certificates and added rather complicated the fecs were introduced for use foreigners china but they now circulate widely among local residents and there big black market the currency though theoretically par with the ordinary chinese currency renminbi tian said the government still considered that the fecs had many demerits and negative influences bank china president wang deyan told reuters earlier this month that thought unlikely that the certificates would scrapped this year western diplomats and economists have said the chinese authorities are having trouble finding suitable alternative vice premier yao yilin announced similar press conference last year that the fecs would abolished saying the government had decided was ideologically unacceptable have two currencies circulating china the same time reuter 
trade	nakasone sounds conciliatory note chip dispute prime minister yasuhiro nakasone sounded conciliatory note japan increasingly bitter row with the united states over trade computer microchips japan wants resolve the issue through consultations explaining its stance thoroughly and correcting the points that need corrected was quoted kyodo news service saying while expressing regret over america decision impose tariffs imports japanese electrical goods nakasone said tokyo was willing send high level official washington help settle the dispute government officials said japan would make formal request next week for emergency talks and that the two sides would probably meet the week after just days before the april deadline set washington for the tariffs take effect tokyo expected propose joint japan investigation american claims that japanese companies are dumping cut price chips asian markets yesterday washington announced plans put much mln dlrs tariffs imports certain japanese electronic goods retaliation for what sees tokyo failure live their bilateral chip pact that agreement hammered out late last year after months heated negotiations called japan stop selling cut price chips world markets and buy more american made chips nakasone comments seemed distinctly more conciliatory than those his trade and industry minister hajime tamura who earlier today said japan was ready take appropriate measures washington went ahead with the sanctions ministry international trade and industry miti officials later sought downplay the significance tamura remark and said that his main message was that the two sides need talk urgently about the issue but they admitted that japan was considering taking the united states gatt the geneva based international organization which polices world trade washington imposed the tariffs any japanese action would probably taken under article the general agreement tariffs and trade gatt they said that article were invoked gatt would set panel consider the legality the action but officials here said they hope that can avoided may wishful thinking but there possibility the united states may lift its decision early date tamura said announcing the sanctions yesterday president ronald reagan said was prepared lift them once had evidence that japan was longer dumping chips world markets and had opened its own market imports japanese government officials said they are confident they can make the pact work they said that the export cut price japanese chips through unregulated distributors has all but dried after miti instructed domestic makers cut output while acknowledging that harder increase japanese imports american chips miti officials said that the ministry doing all can ensure that happens the ministry recently called japan major chip users some whom are also leading producers step their purchases foreign semiconductors spokesman for one the companies toshiba corp tsba said his firm would just that and could announce its plans the next week expects other japanese companies likewise reuter 
trade	islamic banks establish mln dlr trade portfolio the islamic development bank idb and islamic banks signed agreement establish mln dlr trade portfolio finance trade among islamic countries idb sources said they said idb share the portfolio which will only finance exports and imports the private sector was limited mln dlrs the sources said shares the porfolio could traded redeemed the idb adding that this was major step establishing islamic financial market reuter 
crude	bank sees modest recovery gulf arab economies the emirates industrial bank has predicted modest economic recovery the gulf arab states following higher oil revenues bank study carried the emirates news agency wam said total oil revenues the six gulf cooperation council gcc countries were likely reach billion dlrs this year from billion the gcc groups bahrain kuwait oman qatar saudi arabia and the united arab emirates uae the bank said the improvement would result from higher oil prices made possible last december opec accord restrain overall group production these curbs have pushed oil prices from around eight dollars barrel mid around dlrs all signs point the possibility modest recovery the economies these gcc countries although this expected growth will not similar that the boom years the study said added however that gcc states would experience higher budget deficits this year because needs arising from past recession and the difficulty making fresh spending cuts the study said the combined gcc bugdet deficits would rise billion dlrs from billion last year said lower oil exports cut the gcc states combined trade surplus billion dlrs from billion the uae suffered pct drop gross domestic product billion dirhams last year from billion added reuter 
money-fx	arab banker says too soon for single currency gulf arab states must coordinate economic policies more closely before moving towards their goal unified currency system the president the arab bankers association said hikmat nashashibi told news conference the end arab currency traders meeting have start with coordination fiscal policies prerequisite for common system currencies there quite substantial way yet said only then would unified gulf currency system plausible project the six nations the gulf cooperation council saudi arabia kuwait bahrain oman qatar and the united arab emirates have held series meetings this year examine linking their currencies single peg system which bankers say could modelled the european monetary system ems present five currencies are linked either officially practice the dollar while the kuwaiti dinar pegged trade weighted basket currencies common currency system ems style grid would theory foster regional trade providing basis for stable exchange rates but nashashibi said inter arab trade very low ebb and capital flows between gulf states remain small capital markets the arab world are still their infancy said nashashibi said lack experience among arab banks paucity financial instruments and legal framework that often does not recognise the western banking concept interest have hampered the growth arab markets reuter 
money-fx	arab forex association elects new chairman the inter arab cambist association ica elected abdullah dakhil kuwait burgan bank its new chairman succeeding hani ramadan beirut riyad bank for three year term ica officials said the annual meeting elected three vice chairmen ezzedine saidane banque internationale arabe tunis mohammed osman societe bancaire liban and walid nasouli morgan guaranty trust new york ibrahim buhindi the saudi national commercial bank bahrain and imad bata finance and credit corp jordan were elected secretary and treasurer respectively reuter 
trade	tokyo bids stop chip row turning into trade war japan seeking prevent its computer chips dispute with the from erupting into full scale trade war government officials said hope that the dispute this specific issue won have adverse effect our overall relationship with the united states ministry international trade and industry miti official said friday washington announced plans for much mln dlrs tariffs japanese electronic goods for tokyo alleged failure live bilateral computer chip pact that agreement reached last year after heated negotiations called japan stop selling cut price chips world markets and buy more american made semiconductors foreign ministry officials immediately tried isolate the fall out from the dispute seeking separate from prime minister yasuhiro nakasone planned trip washington the end april while japan has already done about all can make sure the chip pact working the government studying measures can take other fields defuse american anger and ensure the trip success they said the perception japan the congress very bad one official told reuters would very much like something respond that apparent effort prevent the chip dispute from spreading other areas miti officials sought depict the action severe warning japanese semiconductor makers not the government faced with belligerent domestic chip industry and angry american congress the japanese government has been forced walk increasingly fine line the semiconductor dispute trade analysts said they said that was open secret that japan largest chip maker nec corp was not happy with what viewed the draconian measures miti was taking implement the pact included enforced production cuts the angry response japanese chip makers yesterday the announcement the tariffs highlighted the difficulties the government faces taking further action japanese semiconductor manufacturers have complied with the japan agreement said shoichi saba chairman the electronic industries association japan accused the being irrational said the action had made the bilateral chip pact meaningless saba comments contrasted with those prime minister yasuhiro nakasone who said tokyo wanted solve the dispute through consultations japan expected send high level official washington early next month try convince the not ahead with the tariffs april trade analysts say tokyo likely outline industry plans step purchases chips and propose joint investigation into washington allegations chip dumping reuter 
earn	bank fuer gemeinwirtschaft bkfg year year ended december group net profit mln marks mln balance sheet total billion marks billion credit volume billion marks billion parent bank net profit mln marks mln transfer trades union holding mln marks mln payment open reserves mln marks mln balance sheet total billion marks billion partial operating profit mln marks mln interest surplus mln marks mln surplus commission mln marks mln ordinary expenditure mln marks mln earnings from subsidiaries through profit transfer agreements mln marks mln earnings from writing back provisions mln marks mln published risk provisions mln marks mln credit volume billion marks billion group figures for exclude bsv bank fueer sparanlagen und vermoegensbildung which longer consolidated reuter 
earn	bfg partial operating profits fall sharply bank fuer gemeinwirtschaft bkfg bfg partial operating profits fell mln marks from mln new majority shareholder aachener und muenchener beteiligungs amvg amb said but total operating and extraordinary profits including earnings from currency and securities trading the bank own account and earnings from the sale holdings other firms were more than double the previous year level amb said bfg accounts were included prospectus for amb capital increase which finance the insurance company acquisition pct plus one share bfg despite the fall partial operating profits bfg paid unchanged mln marks into open reserves and transferred unchanged mln marks its trade union holding company beteiligungsgesellschaft fuer gemeinwirtschaft from which amb has acquired the majority stake the bank has said its business last year suffered from the turbulence around the troubled trade union owned housing concern neue heimat amb said the mln mark drop bfg business volume billion marks affected the interest surplus the interest surplus which fell mln marks from mln was also depressed the point fall the interest margin pct rise the surplus commission mln marks from mln was not enough compensate for this the rise total operating profits enabled bfg step risk provisions with country risks particularly emphasised because the continuing difficulties some countries disclosed risk provisions which under west german accounting rules not necessarily reflect the full amount rose mln marks from mln bfg parent credit volume eased billion marks from billion foreign debtors accounted for pct this credit volume and latin american debtors accounted for pct total lending foreigners bfg posted extraordinary earnings from the sale pct volksfuersorge deutsche lebensversicherung pct bsv bank fuer sparanlagen und vermoegensbildung and five pct allgemeine hypothekenbank the sale was linked amb acquisition majority bfg these sales show mln marks from profit transfer agreements and mln from writing back risk provisions reuter 
money-fx	japan carefully considering money policy sumita bank japan governor satoshi sumita said the central bank will carefully consider its monetary policy light the recent sharp fall the dollar asked the bank japan will consider further cut its discount rate said now thinks the bank will have carefully consider its future money policy told lower house budget committee parliament that credit conditions have been eased the five discount rate cuts japan since the beginning last year japan must now especially careful about flare inflation with money supply growth accelerating said sumita said the central bank would continue make judgement monetary policies while watching consumer prices exchange rates and economic and financial conditions both and outside japan asked the september plaza agreement was failure because the dollar had fallen too far sumita said still thought the pact was good one the sense that had corrected the overvaluation the dollar but the plaza accord did not set any target for the dollar fall said the dollar steep fall stems from the market belief that the trade imbalance will continue expand said reuter 
trade	baldrige predicts end japan trade dispute the united states and japan will soon settle their trade dispute over semiconductors commerce secretary malcolm baldrige said television baldrige referring the japan trade agreement semiconductors said their government wants live their industries haven been doing and think have good settlement spare both sides think the japanese understand full well that they haven lived this commitment said added not think there will trade war all friday washington announced plans put much mln dlrs tariffs japanese electronic goods from april because tokyo failure observe the agreement the officials said the tariffs would ended soon japan started adhering the agreement but they said there was little chance japan could react quickly enough avert the higher tariffs baldrige said the reagan administration hoped the strong action against japan would convince congress tone down protectionist trade legislation now being drafted denied the action had been taken for that reason reuter 
crude	iraq says iranian oil network attacked baghdad marckraq said its warplanes attacked the pipeline network through which oil pumped iran main oil terminal kharg island the northern gulf large numbers our warplanes attacked the installations where the pipelines pump oil from ganaveh kharg island turning them into rubble and setting them ablaze military spokesman said did not give the exact location the area attacked but ganaveh terminal the iranian gulf coast some miles northeast kharg island which itself has been attacked least times since august reuter 
acq	btr nylex raises offer for borg warner australia btr nylex ltd said will increase its takeover offer for borg warner corp bor listed unit borg warner australia ltd bwa five dlrs each from four dlrs for all issued ordinary and preference shares the new offer values the diversified auto parts manufacturer mln ordinary shares and mln first participating preference shares mln dlrs formal documents will sent shareholders soon possible said brief statement btr nylex which manufactures rubber and plastic products first bid for bwa late january previously reported borg warner corp which owns pct bwa ordinary shares and pct the preferences advised month ago that would not accept the offer this meant btr nylex pct acceptance condition could not met bwa said statement reporting its parent decision bwa advised shareholders ignore the offer and said other parties had expressed interest bidding for but other bid has yet emerged btr nylex pct owned listed subsidiary britain btr plc btrx lon reuter 
acq	investor group puts pressure gencorp investor group trying acquire gencorp inc said would move unseat the board directors and take other action gencorp refuses discuss billion dlr takeover bid general acquisition partnership wagner and brown and afg industries inc afg reiterated statement sent gencorp friday that was willing negotiate its earlier offer dlrs share for the tire broadcasting plastics and aerospace conglomerate analysts have speculated gencorp could fetch least dlrs per share broken gencorp officials declined comment the statement but spokesman reiterated request shareholders wait until the board renders opinion before making decision the offer gencorp has said statement would made before the company annual meeting tuesday general acquisition said the board could not carry out its duties shareholders and make informed decision until has explored with the ways which our offer can revised provide greater value your shareholders general acquisition added was aware the board may reviewing alternative transactions which might provide gencorp shareholders with payment other than cash that the case you should recognise that our additional equity capital may very well enable offer cash and securities having greater value than gencorp could provide any similarly structured transaction said added gencorp board had obligation present any alternative proposal shareholders way that allowed competing offers general acquisition requested given chance bid competitive and fair basis before any final decision was made any other buyout proposal the statement repeated the request gencorp remove poison pill preferred share purchase rights shareholders making any takeover more expensive said might take legal action seek the support shareholders calling special meeting replace the board and consider other proposals gencorp should not accept any other proposal containing defensive features said reuter 
earn	basf world group pre tax profit billion marks billion 
earn	basf basf year year december world group pre tax profit billion marks billion world group turnover billion billion world group investment fixed assets billion billion parent company pre tax profit billion billion parent turnover billion billion parent domestic turnover billion billion parent foreign turnover billion billion parent investment fixed assets billion mln reuter 
acq	woolworth holdings says bidding mln stg for superdrug stores 
crude	indonesia limits oil price impact finance minister indonesia has minimised the economic impact falling oil prices kept inflation within limits and boosted exports finance minister radius prawiro said indonesia was badly hit last year steep plunge crude prices which cut revenue from oil exports half but prawiro was quoted indonesian newspapers telling president suharto that inflation was kept around nine pct the financial year ending tomorrow against around pct the previous year exports were estimated have risen seven pct said although did not give complete figures the depressed economy forms the main backdrop general elections next month indonesia major producer rubber palm oil tin timber and coffee prawiro said had also been difficult because the appreciation currencies like the yen and the mark against the dollar which increased indonesia debt repayments said the economy would have suffered more from the world economic recession the government had not devalued the rupiah pct last september editorial the economic outlook the jakarta post said the government must press ahead with measures deregulate the economy help boost non oil exports the english language daily said bigger export earnings were needed finance not only imports but also the country growing foreign debt estimated around billion dlrs about pct our foreign debt obligations fall due within the next three five years and will steadily increase the debt servicing burden the paper said however end investors were seen bargain hunting expectation further yen interest rate decline dealers said most dealers were cautious the face the dollar nosedive today and the possibility interest rate rebound halt further dollar depreciation pct coupon and volume billion yen for the april year bond proposed the finance ministry this afternoon were taken favourably the market reuter 
acq	woolworth bids mln stg for superdrug woolworth holdings plc wluk said would make mln stg agreed bid for superdrug stores plc valuing the company shares about each the offer would made the basis new woolworth ordinary shares for every superdrug woolworth said had received acceptances from the holders pct superdrug shares the bid woolworth second attempt recent months acquire retail chemist chain earlier this year negotiated possible bid for underwoods plc buit the talks were broken off two weeks ago full acceptance the offer would involve the issue about mln new woolworth shares pct the enlarged share capital cash alternative would offer for each share superdrug members the goldstein family have accepted the offer for mln shares which have not been underwritten another major shareholder rite aid corp rite investments corp unit had accepted the offer for mln shares and would take the cash alternative for mln these the year end january woolworth reported pretax profits sharply higher mln stg after mln previously the year end february superdrug reported pretax profits mln after mln previously turnover that rose mln from mln superdrug shares firmed from friday woolworth eased from reuter 
trade	japan has little new offer microchip dispute the japanese government appears have little new offer settle dispute with the over computer chips trade analysts and government officials said the has threatened impose tariffs worth mln dlrs japanese electronics exports the retaliation for japan alleged failure keep pact the microchip trade signed last september foreign ministry official told reuters japan has done what can and now must persuade the united states wait for those steps take effect the alleges that defiance the september agreement japan still selling microchips below cost non markets and refusing open japan further chip sales tariffs are due take effect april analysts noted japan ministry international trade and industry miti has already ordered chipmakers cut production order dry the source cheap chips sold third countries non regulated prices not sure miti can much more than has said jardine fleming securities ltd analyst nick edwards miti official said the ministry was not planning call for production cuts beyond those already sought although would continue press chip users buy more foreign goods spokesmen for some japanese electronics firms said they would consider buying more chips but matsushita electric industrial spokesman said rapid increase imports was not likely most analysts said japanese exporters would hard hit the united states did implement the tariffs which would levied consumer electronics products rather than microchips themselves the tariffs remain place for any length time there will complete erosion exports the united states said tom murtha analyst james capel and the japanese electronics industry too powerful stopped altogether but recovery for the industry will delayed for another year said some analysts said tariffs would also harm industry stepping offshore production and reducing demand japan for semiconductors firms are trying sell here the american approach full contradictions jardine fleming edwards said they want expand exports the last thing they want hit the makers the final products because that hurts the final market edwards said but other analysts said the dispute reflects not just concern over what sees strategic industry but also frustration with japan vast trade surplus some analysts argued that solve the semiconductor problem japan may have take action beyond that pledged the semiconductor pact carole ryavec analyst salomon brothers asia ltd said the major overall issue stimulate the domestic economy and move away from export dependent economy reuter 
earn	arbed arbb year net profit mln luxembourg francs billion turnover billion francs billion cash flow billion francs billion steel production mln tonnes down seven pct board will decide april whether pay dividend dividend has been paid since reuter 
earn	arbed sees need maintain pressure costs the recent deterioration the steel market makes important for arbed arbb maintain efforts reduce costs the company said statement reported that its competitive position had weakened considerably the second half leading seven pct cut steel output over the whole the year mln tonnes arbed had managed make mln franc net profit slightly down from the billion profit thanks lower raw material costs and prudent management the company said arbed said the early months had seen the market deteriorate further but the decision the european community maintain anti crisis measures least provisionally should under normal circumstances have beneficial effect ministers have agreed extend quota production system while discussions continue industry plan for capacity reductions arbed said current conditions cost cutting efforts remain necessary avoid any weakening resources which have been built over the last three years reuter 
earn	basf basf says results affected dlr basf said the volatile currency situation last year particularly the fall the dollar led sharp drops turnover denominated marks and price reductions for exports from domestic production but statement accompanying year end figures the group said expected satisfactory business development over the next months the moment not expect any extraordinary influences such there were last year said orders hand and incoming orders were steady high level basf reported pct lower world group pre tax profit billion marks compared the unusual situation the crude oil market last year also produced clear sales slide the oil and gas sector and forced price declines for petrochemical products basf said the fall pre tax profit corresponded the losses stocks the oil and gas sector the beginning the parent company the positive earnings development continued said where pre tax profit rose pct billion marks the decline parent company turnover was balanced out increased capacity use and price declines raw materials world group turnover was off pct billion marks compared basf said parent turnover fell pct billion turnover increases with the exceptions the sectors fine chemicals and informations systems had only been achieved those areas widened last year through acquisition results from these had been taken only partly into the fourth quarter that year but fully included data far the current year the investment volume the parent company and the world group exceeding that basf said without giving concrete figures reuter 
money-fx	bahrain introduces new money market regime bahrain introducing new domestic money market regime provide dinar liquidity aid centred the island newly launched treasury bill programme the bahrain monetary agency has issued circular all commercial banks outlining new policy from april which gives liquidity aid through sale and repurchase agreements treasury bills through discounting them the circular released officially reuters said current arrangements for providing liquidity aid will longer valid except quite exceptional circumstances under the current system the agency provides the island commercial banks with dinar liquidity means short term swaps against dollars and less frequently short term loans secured against government development bonds the agency considers that now appropriate replace these operations with short term assistance based government bahrain treasury bills the circular banks states the agency said will repurchase treasury bills with simultaneous agreement resell them the same bank higher price which will reflect interest charge the agency said envisages the repurchase agreements will normally for period seven days bahrain launched weekly tender for two mln dinars day treasury bills mid december last year and has since raised total mln dinars through the programme bahrain commercial banks are currently liquid and have been making little use the traditional dollar swaps offered the agency but banking sources said the new regime from april will mean banks cannot afford not hold treasury bills case they need funds from the central bank banking sources said more than half the banks hold treasury bills although the need others take paper could increase demand weekly tenders and push down allotted yields slightly last week yield was six pct although the programme had started the end last year with rates low pct banking sources said the cost liquidity through repurchase accords will not differ much from that dollar swaps but bank using dollars obtain liquidity would foresake interest the currency while the underlying treasury bill investment unaffected repurchase accord reuter 
money-fx	bank england forecasts surplus money market the bank england said forecast liquidity surplus around mln stg the money market today among the main factors affecting liquidity exchequer transactions will add some mln stg the system today while fall note circulation and bankers balances above target will add around mln stg and mln stg respectively partly offsetting these inflows bills for repurchase the market will drain some mln stg while bills maturing official hands and the treasury bill take will remove about mln stg reuter 
acq	tesco buys pct hillards tesco plc tsco said county bank ltd had bought shares hillards plc its behalf increasing its stake pct the shares were bought each tesco making opposed mln stg bid for hillards hillards shares gmt were quoted one penny firmer while tesco was one penny easier reuter 
earn	royale belge rbvb year non consolidated net profit billion francs billion turnover billion francs direct comparison own funds billion francs billion after transfer billion francs from profits and billion from sale securities note company said the figure slightly lower because french branches have become group subsidiaries proposed net dividend ordinary shares francs including franc supplement due the exceptional character results francs note company was created may the merger royale belge vie accidents and royale belge incendie reassurance vie accidents shareholders received eight new shares and incendie reassurance shareholders six for every share held the old companies comparisons are therefore company calculations reuter 
ship	japanese shipyards form cartel cut output japan ailing shipyards have won approval from the fair trade commission form cartel slash production about half total capacity for one year effective april industry sources said the approval follows act parliament passed last week designed help the industry regroup and shed pct capacity march transport ministry officials said the cartel comprising yards capable constructing ships more than gross tonnes will limit newbuilding output maximum three mln compensated gross registered tonnes the shipbuilders association japan said industry sources said the will seek renew the cartel the belief demand will remain sluggish last week temporary act parliament also allows shipbuilders receive favourable taxation terms plus billion yen compensation for liabilities incurred through job losses and the sale excess capacity billion yen has been allocated for purchasing redundant land and equipment from shipbuilders the ministry will start drawing its restructuring guidelines from april and the yards will implement the guidelines from september industry sources said reuter 
acq	wallenberg group raises stake ericsson sweden wallenberg group said raised its holding telecommunications maker telefon ericsson eric the voting rights from pct the move the knut and alice wallenberg foundation one the institutions the core the group companies formed the late industrialist marcus wallenberg further consolidated group control over one its key firms analysts said the foundation now controls pct ericsson voting rights with pct held the group investment companies investor and forvaltnings providentia the move comes after the wallenberg group fought off hostile takeover bid earlier this month for match and packaging conglomerate swedish match smbs from arms and chemical concern nobel industrier nobl increasing its stake swedish match pct from pct reuter 
money-fx	philadelphia exchange extend hours for asia the philadelphia stock exchange phlx leading trader currency options plans extend its trading hours serve australasian and far eastern markets exchange president nicholas giordano said told reporters the phlx will open new session between and hours est from the beginning the third quarter this year the phlx also opening office hong kong serve clients the region and educate financial markets about the advantages currency options giordano said giordano was sydney start asian pacific tour exchange executives promoting the hedging benefits the exchange trade currency option market against existing over the counter option trading during the local working day currency options pioneered the phlx had become accepted means hedging against foreign exchange risk and had grown popularity said the phlx now offered options eight currencies including new australian dollar option and traded average contracts daily with underlying open interest more than billion dlrs giordano said the exchange had been impressed with the performance its australian dollar contract which since its introduction last year had regularly topped the french franc the third most popular traded option with contracts traded daily having the philadelphia exchange open during the asia pacific market day would open new hedging opportunities set truer level for over the counter option trading increase arbitraging opportunities and give corporations and treasuries access currency option market much greater depth and liquidity with the security clearing house said reuter 
earn	slough estates views prospects confidently slough estates plc slou said views the prospects during with confidence statement accompanying its results reported rise over mln stg pretax profit mln stg and said there are signs that the existing threat excess supply may lessened there has also been return interest industrial investment external appraisal the group investment properties was carried out last year which found their gross value mln stg dec reuter 
earn	rugby well prepared for new cement competition rugby portland cement plc rbyl said was well placed operate the new circumstances following the ending february the year old cement manufacturers common price and marketing arrangements statement following the release its results stated that the current year had started well reported that pretax profits the year rose mln stg from mln previously turnover higher mln after mln the strong recovery the first six months continued into the second half although cement demand rose only modestly results benefitted from cost cutting and higher volumes the decision the cement makers federation end the pricing agreement reflected pressure from higher competition due growing imports and the possibility that the system would taken the restrictive practices court the government stated that its john carr unit benefitted from strong organic growth although overseas its cockburn operation had difficult period with high maintenance costs and increased depreciation charges the company proposing change its name the next annual meeting rugby group plc rugby said spent mln stg acquisitions noted that its western australia hotels company had agreed sell the parmelia hotel for mln australian dlrs some seven mln stg above end book value the results were largely line with forecasts and rugby shares were little changed after friday close reuter 
acq	mannesmann buys indirect majority stake sachs mannesmann mmwg said has reached series agreements giving indirect majority stake the fichtel und sachs car parts group the takeover contingent approval from the federal cartel office west berlin spokesman said adding that mannesmann was confident the authorities would not block the purchase mannesmann buying pct mec sachs vermoegensholding which owns pct sachs which turn holds pct fichtel und sachs the mec shares will bought from the granddaughters the firm founder mannesmann also purchasing pct stake fichtel und sachs from commerzbank cbkg and has option buy the bank remaining pct stake company statement said addition these firm agreements mannesmann also talking with the state owned steel group salzgitter salg buying its pct stake fichtel und sachs this would give mannesmann around pct fichtel und sachs salzgitter said decided give its own original plans seek majority stake sachs after holding talks with the government bonn earlier this month mannesmann disclosed that might want majority stake sachs after previously saying was seeking buy only minority holding the company which has annual turnover billion marks and employs the acquisition part mannesmann efforts diversify into high technology areas and away from its previous reliance steel and pipe making more spokesman for the federal statistics office later said the anti cartel authorities would probably rule the takeover the new few weeks reuter 
ship	and reorganises commercial operations british and commonwealth shipping plc bcom said that would reorganise its commercial and service operations into single public grouping with autonomous management the group has expanded rapidly the past year through the mln stg acquisition exco international plc and mln bid for steel brothers holdings plc noted that its operations were now divided between financial services including money broking investment management and forfaiting and more traditional areas such aviation hotels commodity trading and office equipment said that each sector had exciting prospects but required different methods management and financing and planned form new public company hold the commercial operations and envisaged operating with capital between mln and mln stg has retained barclays zoete wedd advise the introduction independent investors subscribe for additional capital and believes that the proportion equity capital held outside investors would not exceed pct the total the statement said that with the continued support and together with outside capital the new grouping would emerge major group its own right with the ability take advantages opportunities they arose however the group would not seek listing for the time being and also said that its chairman lord cayzer planned retire june the company proposed that appointed life president and that current chief executive john gunn should take over chairman and shares eased gmt reuter 
money-fx	japan conducts currency survey big investors finance ministry official said the ministry has recently conducted survey foreign exchange transactions institutional investors but declined say was aimed moderating their dollar sales however financial market sources said they had heard the ministry has asked life insurance and securities firms refrain from selling dollars but they were unable confirm this directly dealers said life insurance firms were not major sellers dollars recent trading sessions because they had already sold them hedge risks dealers said securities houses and trust banks the other hand have aggressively sold the dollar reuter 
crude	refinery due partly open next week the british petroleum plc oil refinery grangemouth closed after explosion and fire eight days ago expected partially reopen next week refinery spokesman said said the entire bpd refinery has been shut since the accident which killed one person and damaged the site hydrocracker the main units will resume operation next week but the hydrocracker will closed for unspecified period the spokesman said the refinery had been operating about half its capacity since end january due overhaul work part the complex the overhaul expected end late april reuter 
money-fx	bank england does not operate money market the bank england said had not operated the money market during the morning session earlier the bank revised its forecast the liquidity position flat from its original estimate mln stg surplus reuter 
money-fx	asian dollar market assets fall january the gross size the asian dollar market contracted billion dlrs january down billion dlrs from december reflecting decline interbank activity the monetary authority singapore mas said its latest monthly bulletin the assets stood billion dlrs january last year mas said interbank lending fell january billion dlrs from billion december but rose from billion january and interbank deposits billion against and billion respectively loans non bank customers increased billion dlrs january from billion december and billion january deposits non bank customers also increased january billion from billion month ago and billion year ago reuter 
trade	nakasone sounds conciliatory note chip dispute prime minister yasuhiro nakasone sounded conciliatory note japan increasingly bitter row with the united states over trade computer microchips japan wants resolve the issue through consultations explaining its stance thoroughly and correcting the points that need corrected was quoted kyodo news service saying while expressing regret over america decision impose tariffs imports japanese electrical goods nakasone said tokyo was willing send high level official washington help settle the dispute government officials said japan would make formal request next week for emergency talks and that the two sides would probably meet the week after just days before the april deadline set washington for the tariffs take effect tokyo expected propose joint japan investigation american claims that japanese companies are dumping cut price chips asian markets friday washington announced plans put much mln dlrs tariffs imports certain japanese electronic goods retaliation for what sees tokyo failure live their bilateral chip pact reuter 
acq	amylum chairman disappointed ferruzzi cpc deal belgian starch manufacturer amylum surprised and disappointed that its mln dlr offer for the european business cpc international inc cpc was apparently rejected favour lower mln dlr bid italy gruppo ferruzzi chairman pierre callebaut said callebaut told reuters that amylum leading starch and isoglucose manufacturer which britain tate and lyle plc tatl holds pct stake had made undisclosed initial takeover offer for cpc european corn wet milling business the close cpc tender march the offer was raised march final mln dlrs cash after cpc told amylum its initial bid was below ferruzzi mln stg offer callebaut said the same day cpc announced had agreed principle sell its european business ferruzzi mln dlr deal noting that ferruzzi was studying public offering shares its unit european sugar france fund the cpc takeover callebaut said amylum may still succeed its bid for the time being just await developments but note that whereas our higher offer was cash ferruzzi apparently still organising finance callebaut said reuter 
money-fx	philadelphia exchange extend hours for asia the philadelphia stock exchange phlx leading trader currency options plans extend its trading hours serve australasian and far eastern markets exchange president nicholas giordano said told reporters the phlx will open new session between and hours est from the beginning the third quarter this year the phlx also opening office hong kong serve clients the region and educate financial markets about the advantages currency options giordano said giordano was sydney start asian pacific tour exchange executives promoting the hedging benefits the exchange trade currency option market against existing over the counter option trading during the local working day currency options pioneered the phlx had become accepted means hedging against foreign exchange risk and had grown popularity said the phlx now offered options eight currencies including new australian dollar option and traded average contracts daily with underlying open interest more than billion dlrs giordano said the exchange had been impressed with the performance its australian dollar contract which since its introduction last year had regularly topped the french franc the third most popular traded option with contracts traded daily having the philadelphia exchange open during the asia pacific market day would open new hedging opportunities set truer level for over the counter option trading increase arbitraging opportunities and give corporations and treasuries access currency option market much greater depth and liquidity with the security clearing house said reuter 
money-fx	japan carefully considering money policy sumita bank japan governor satoshi sumita said the central bank will carefully consider its monetary policy light the recent sharp fall the dollar asked the bank japan will consider further cut its discount rate said now thinks the bank will have carefully consider its future money policy told lower house budget committee parliament that credit conditions have been eased the five discount rate cuts japan since the beginning last year japan must now especially careful about flare inflation with money supply growth accelerating said sumita said the central bank would continue make judgement monetary policies while watching consumer prices exchange rates and economic and financial conditions both and outside japan asked the september plaza agreement was failure because the dollar had fallen too far sumita said still thought the pact was good one the sense that had corrected the overvaluation the dollar but the plaza accord did not set any target for the dollar fall said the dollar steep fall stems from the market belief that the trade imbalance will continue expand said reuter 
trade	tokyo bids stop chip row becoming trade war japan seeking prevent its computer chips dispute with the from erupting into full scale trade war government officials said hope that the dispute this specific issue won have adverse effect our overall relationship with the united states ministry international trade and industry miti official said friday washington announced plans for much mln dlrs tariffs japanese electronic goods for tokyo alleged failure live bilateral computer chip pact that agreement reached last year after heated negotiations called japan stop selling cut price chips world markets and buy more american made semiconductors foreign ministry officials immediately tried isolate the fall out from the dispute seeking separate from prime minister yasuhiro nakasone planned trip washington the end april while japan has already done about all can make sure the chip pact working the government studying measures can take other fields defuse american anger and ensure the trip success they said the perception japan the congress very bad one official told reuters would very much like something respond that apparent effort prevent the chip dispute from spreading other areas miti officials sought depict the action severe warning japanese semiconductor makers not the government faced with belligerent domestic chip industry and angry american congress the japanese government has been forced walk increasingly fine line the semiconductor dispute trade analysts said they said that was open secret that japan largest chip maker nec corp was not happy with what viewed the draconian measures miti was taking implement the pact included enforced production cuts the angry response japanese chip makers yesterday the announcement the tariffs highlighted the difficulties the government faces taking further action japanese semiconductor manufacturers have complied with the japan agreement said shoichi saba chairman the electronic industries association japan accused the being irrational said the action had made the bilateral chip pact meaningless saba comments contrasted with those prime minister yasuhiro nakasone who said tokyo wanted solve the dispute through consultations japan expected send high level official washington early next month try convince the not ahead with the tariffs april trade analysts say tokyo likely outline industry plans step purchases chips and propose joint investigation into allegations chip dumping reuter 
trade	baldrige predicts end japan trade dispute the united states and japan will soon settle their trade dispute over semiconductors commerce secretary malcolm baldrige said television baldrige referring the japan trade agreement semiconductors said their government wants live their industries haven been doing and think have good settlement spare both sides think the japanese understand full well that they haven lived this commitment said added not think there will trade war all friday washington announced plans put much mln dlrs tariffs japanese electronic goods from april because tokyo failure observe the agreement the officials said the tariffs would ended soon japan started adhering the agreement but they said there was little chance japan could react quickly enough avert the higher tariffs baldrige said the reagan administration hoped the strong action against japan would convince congress tone down protectionist trade legislation now being drafted denied the action had been taken for that reason reuter 
acq	investor group puts pressure gencorp investor partnership seeking acquire gencorp inc said would attempt unseat the company board directors and take other hostile actions the firm refuses discuss its billion dlr takeover bid general acquisition comprising investors wagner and brown and glass maker afg industries also reiterated its willingness negotiate with gencorp the partnership has earlier offered dlrs per share for gencorp tire broadcasting plastics and aerospace conglommerate analysts have speculated that gencorp break basis could fetch more than dlrs per share gencorp officials had comment general acquisition statement but spokesman reiterated earlier request shareholders wait until its board renders opinion before making decision the general acquisition tender gencorp said its statement would made before the company annual meeting scheduled for tuesday general acquisition made its statement letter sent the gencorp board friday the partnership said was willing negotiate all points its offer including price the group the board cannot fully carry out its fiduciary duties gencorp shareholders and make fully informed decision about its offer until has thoroughly explored with the ways which our offer can revised provide greater value your shareholders general acquisition said aware the board may reviewing alternative transactions which might provide gencorp shareholders with payment other than cash that the case you should recognize that our additional equity capital may very well enable offer cash and securities having greater value than gencorp could provide any similarly structured transaction the partnership said general acquisition also said believes that gencorp board has obligation present any alternative transaction may propose shareholders manner that would allow for competing offers the partnership requested that any other proposal under consideration that given the same information available gencorp managers and advisers constructing proposal general acquisition said that gencorp agrees accept another buyout proposal that also given opportunity bid competitive and fair basis before any final decision made general acquisition repeated its request that gencorp remove its poison pill shareholders rights plan general acquisition said gencorp does not allow environment for fair competition will take all steps necessary create such enviroment said may take legal action seek the support shareholders calling special meeting replace the board and consider other proposals might develop general acquisition also said the board decides accept alternate proposal asked that not accept plan that would include defensive features reuter 
acq	united banks colorado ubks acquisition cleared united banks colorado inc said has received federal reserve board approval acquire intrawest financial corp intw exhcnmage united share for each intrawest share the company said the acquisition still subject day review the justice department and expected completed the second quarter reuter 
acq	suffield ssbk coastal csbk buy cleared suffield financial corp said has received approvcal from the maine bureau banking for its proposed acquisition coastal bancorp portland maine and the acquisition expected close around april one the approval was the last regulatory clearance required for the transaction reuter 
acq	marketing systems masy seeks acquisitions marketing systems america inc said has retained richter cohen and assist efforts redirect its business through merger acquisition the company said consideration for services renedered has agreed grant richter five year warrants buy common shares cts each exercisable starting march and negotiated fee completion any transaction said has the right cancel the warrants after one year transaction has been completed reuter 
earn	oracle systems orcl files for offering oracle systems corp said has filed for offering common shares after adjustment for recent two for one stock split including sold shareholders the company said lead underwriters are alex brown and sons inc absb and donaldson lufkin and jenrette securities corp the offering expected made early april with company proceeds used repay all short term debt for working capital and for possible acquisitions oracle said after the offering will have about mln shares outstanding reuter 
acq	skanska take stake canadian firm swedish construction and real estate company skanska skbs said will sell its pct holding canadian building firm canadian foundation company ltd rival banister continental ltd company spokeswoman told reuters skanska will receive banister shares payment giving the swedish group pct the stock the expanded banister firm she said skanska will also appointing two board members the canadian company reuter 
money-fx	money market given mln stg assistance the bank england said had provided the money market with assistance worth mln stg the afternoon session this compares with the bank forecast shortage the system today around mln stg the central bank purchased mln stg bank bills band one pct reuter 
earn	sage analytics saii sets stock split sage analytics international inc said its board has declared three for two stock split payable june holders record june eight the company also said will redeem warrants till outstanding june two cts each each two warrants allow the purchase one common share six dlrs through june one there are presently warrants outstanding reuter 
money-fx	japan conducts currency survey big investors finance ministry official said the ministry has recently conducted survey foreign exchange transactions institutional investors but declined say was aimed moderating their dollar sales however financial market sources said they had heard the ministry has asked life insurance and securities firms refrain from selling dollars but they were unable confirm this directly dealers said life insurance firms were not major sellers dollars recent trading sessions because they had already sold them hedge risks dealers said securities houses and trust banks the other hand have aggressively sold the dollar reuter 
money-fx	japanese seen lightening bond holdings the dollar tumble record low yen tokyo today motivated some major japanese investors lighten their bond inventory further and expected spur diversification into investment assets including foreign and domestic shares dealers said the key pct treasury bond due fell low early tokyo trade against the new york finish then recovered some trust bank pension fund acccounts and investment trusts were seen selling several hundred million dollars the foreign exchange market here today accentuating the unit tumble securities house dealers said they seem undecided what with the fresh yen cash positions resulting from their dollar sales today and are sidelined until the currency market stabilises and the interest rates outlook clarifies nikko securities ltd currency trader said the dollar plunge and low yields bonds will further promote diversification into other foreign investments well call back funds into the domestic bond and stock markets from overseas bond markets securities bond managers said they said major japanese investors the past two years are estimated have held pct their foreign portfolios bonds but many have lightened their bond inventory low pct since late last year japanese investors seeking substantial liquidity and attractive yields have used fresh funds buy mark and canadian dollar bonds and after the paris currency pact actively bought french franc bonds and gilts while gradually lightening bond inventories the managers said dealers said funds tied foreign assets had flowed into local bond and stock markets well the yield the key pct bond dropped record low pct today from the saturday finish and compared with pct three month certificates deposit the key bond has fluctuated less than five basis points for more than month here suggesting most dealers could not satisfy their needs for capital gains dealers said market survey reuters showed some active accounts treasuries are currently dealing tokyo stock market the stock market bullishness late last week was partly due funds transferred from treasuries dealers said japanese net purchases foreign securities the first half march fell estimated one billion dlrs compared with average monthly net purchases billion for the whole finance ministry sources said the steep fall due japanese investors cool attitude towards bonds which had amounted more than pct total foreign securities purchased securities houses managers said foreign stock buying march expected exceed the record high billion dlrs seen december they said diversification foreign portfolios underway and have bought bonds currencies such marks the canadian dollar the ecu and french franc fund manager yasuda trust and banking ltd said reuter 
acq	news corp ltd acquire harper and row publishers inc for dlrs share 
acq	canadian worldwide energy buys triton oil unit canadian worldwide energy ltd said acquired triton energy corp wholly owned canadian subsidiary triton petroleum ltd for the issue mln common shares canadian worldwide subject regulatory approvals the company said the transaction will increase triton energy holding canadian worldwide mln shrs pct fully diluted interest from mln shares triton petroleum assets consist proven oil reserves mln barrels exploratory acreage and unspecified working capital and significant tax loss carryforward canadian worldwide said optimistic the triton petroleum ltd acquisition will strengthen its financial and production base and permit acceleration its conventional oil exploration program reuter 
earn	clabir clg dividends not taxable clabir corp said has determined all dividends paid its class common are not taxable dividend income while this preliminary estimate the company said may used shareholders when preparing income tax returns reuter 
earn	lennar len sees strong earnings for year lennar corp chairman and president leonard miller said the current backlog orders and the strong economy point strong revenues and earnings for the balance fiscal said the company backlog sales deposits feb was increase units over the previous year lennar recorded net earnings for the first quarter cts per share compared cts per share the prior first quarter recorded net earnings mln dlrs dlrs per share for fiscal the company also said that its april annual meeting shareholders will vote increasing the company authorized common stock mln shares from mln this will include mln shares common stock and mln shares class common stock added those shareholders who elect convert their shares into class stock will entitled votes per share while other shareholders will retain one vote per share lennar said the company said this approved intneds pay holders class stock quarterly cash dividend five cts per share and holders the other common stock quarterly cash dividend six cts per share reuter 
trade	yugoslav trade falls sharply statistics show yugoslav trade declining rapidly this year hard currency terms according the latest federal statistics office fso figures the fso figures showed total exports from january march valued billion dinars compared with billion dinars the same period last year these figures were down pct last year dollar terms due exchange rate fluctuations and changes how the figures were calculated fso sources said this year current exchange rates were used for the first time instead fixed rate dinars the dollar belgrade march yugoslav trade declining rapidly this year hard currency terms according the latest federal statistics office fso figures the fso figures showed total exports from january march valued billion dinars compared with billion dinars the same period last year these figures were down pct last year dollar terms due exchange rate fluctuations and changes how the figures were calculated fso sources said this year current exchange rates were used for the first time instead fixed rate dinars the dollar 
earn	walbro walb sees strong qtr results walbro corp said expects its first quarter results reach all time highs projected sales exceeding mln dlrs pct from the dlrs reported for the first quarter said the previous high for single quarter was dlrs for the fourth quarter walbro estimated income for the quarter will exceed first quarter income which was dlrs cts share least pct said the first quarter had been the previous income record for single quarter walbro cited strong demand for its fuel systems products especially automotive electronic fuel injection components and carburetors for lawn and garden applications however said unlikely the company will sustain the same record pace sales and income throughout due expected reduction throttle body sales now appears likely that the company throttle body business with general motors corp will peak the first six months continue reduced levels july and suffer interruption for the period from july july walbro added reuter 
acq	mobil france take pct stake primagaz mobil corp mob mobil oil francaise unit said will take stake about pct the french butane and propane gas distribution company primagaz exchange for the transfer primagaz mobil small and medium bulk propane activity small and medium bulk propane sales totalled tonnes and the transfer will increase total business primagaz about pct equal extra customers primagas spokesman said mobil will take the stake means capital increase terms which have not yet been established 
earn	metromail mtml sees flat year net metromail corp said expects earnings for the year about flat due higher expenses caused expansion data processing capabilities and startup costs associated with new cooperative programs that will continue into the fourth quarter the company today reported earnings for the nine months ended march one dlrs down from dlrs year before for all last year earned mln dlrs reuter 
earn	regency cruists ship corrects earnings regency cruises inc said its earnings per share for the year were cts per share not the cts reported march the company lost cts per share reuter 
acq	morrison inc morr acquires custom management morrison inc diversified food service company said acquired custom management corp based kingston penn for undisclosed amount custom manages some food contract management operations and about environmental service accounts producing about mln dlrs annual revenues reuter 
earn	aneco reinsurance ltd anecf year net shr profit cts loss dlrs net profit loss note net includes gain bond portfolio dlrs and dlr provision for losses discontinued liability and multi peril lines reinsurance reuter 
earn	texas international tei qtr loss shr loss cts loss cts net loss mln loss mln revs mln mln avg shrs mln mln year shr loss dlrs loss dlrs net loss loss mln revs mln mln avg shrs mln mln note net includes extraordinary gains dlrs nil quarter and dlrs dlrs year year net includes dlr credit for previous overpayments windfall profits taxes reuter 
earn	scientific micro smsi sees higher revenues scientific micro systems inc said expects first quarter revenues rise about pct mln dlrs compared with the mln reported for the first quarter last year the company said experienced revenue growth across all product lines during the quarter also said revenue growth should continue during the year and the company should experience improved profitability the second half when acquisition and new product introduction costs will not have significant impact earnings reuter 
acq	bolt beranek bbn files for debenture offering bolt beranek and newman inc said filed with the securities and exchange commission registration statement covering mln dlr issue convertible subordinated debentures due portion the proceeds will used acquire all the outstanding capital stock network switching systems inc another part will allow bolt exercise its option purchase all the limited partnership interests bbn expert limited partnership with the rest used for general corporate purposes the company named painewebber merrill lynch and montgomery securities underwriters reuter 
acq	henley group said has close five pct mln shares santa southern pacific investment 
crude	mexican first qtr crude exports seen dlrs the average price mexico crude oil exports first quarter will dlrs per barrel according preliminary figures issued press release the state oil company petroleos mexicanos pemex gave direct comparison with the year ago figure but said crude and products sales were expected rise billion dlrs this quarter mln dlrs higher than expected and pct better than the year ago quarter prospects for the second quarter were relatively favourable with crude exports seen mln bpd after expected mln this month february and mln january reuter 
earn	texas international tei has unqualified audit texas international inc said has received unqualified audit opinion from auditor arthur andersen and the company had received qualified opinion financial statements subject its ability resolve negotiations with its bank group subsequently sold almost all its domestic oil and natural gas properties and retired all bank debt march with part the proceeds reuter 
acq	tenneco tgt buys unisys uis unit tenneco inc said its newport news shipbuilding subsidiary has completed the purchase the sperry marine systems division unisys corp for about mln dlrs sperry marine has annual revenues about mln dlrs reuter 
acq	biogen bgenf may sell european operations biogen said part program reduce expenses talks the sale its geneva switzerland operations the company gave details reuter 
earn	miltope group inc milt qtr net shr cts cts net sales mln mln avg shrs year shr cts cts net sales mln mln avg shrs backlog mln mln reuter 
earn	aloette cosmetics inc alet qtr dec net shr cts cts net revs avg shrs year shr cts cts net revs mln avg shrs reuter 
earn	international proteins corp pro year net oper shr cts cts oper net sales mln mln note net excludes tax credits dlrs dlrs reuter 
earn	csm systems inc csms year ended dec loss shr loss cts profit cts net loss profit revs note earnings per share restated retroactively for all periods reflect pct stock dividend april and pct stock split september revenues include progress receivables long term contracts not billed customers and reflect the proportionate elements profit revenues based stage completion long term contracts reuter 
money-fx	fed sets two billion dlr customer repurchase fed says 
money-fx	fed adds reserves via customer repurchases the federal reserve entered the government securities market arrange two billion dlrs customer repurchase agreements fed spokesman said dealers said federal funds were trading pct when the fed began its temporary and indirect supply reserves the banking system reuter 
acq	bow valley industries bvi sets secondary issue bow valley industries ltd said filed preliminary short form prospectus canada and the united states for secondary offering pct outstanding common stock common shares being sold certain shareholders the company said bowcan holdings inc holding company principally owned the seaman brothers calgary and charles rosner bronfman trust montreal offering sell all its holding bow valley common shares the balance the offering owned directly and indirectly various trusts jean and charles degunzberg proceeds and expenses from the secondary offering bow valley industries common shares are for the account the selling shareholders the company said the shareholders will engage salomon brothers inc for distribution the shares the united states and mcleod young weir ltd for distribution canada reuter 
earn	cognitronics corp cgn qtr loss shr loss cts loss cts net loss loss revs year shr loss dlr loss cts net loss loss revs mln mln note and qtr net includes charges dlrs cts share and cts share respectively reuter 
acq	allegheny international sells wilkinson sword group for mln dlrs 
acq	henley heng has santa southern sfx stake henley group said filing with the securities and exchange commission that has mln shares close five pct santa southern pacific corp spokesman said response questions from reuters the henley spokesman said the filing was december but that the company still holds the shares investment and very happy with beyond that have comment the spokesman said reuter 
crude	mexican first qtr crude exports seen dlrs the average price mexico crude oil exports first quarter will dlrs per barrel according preliminary figures issued press release the state oil company petroleos mexicanos pemex gave direct comparison with the year ago figure but said crude and products sales were expected rise billion dlrs this quarter mln dlrs higher than expected and pct better than the year ago quarter prospects for the second quarter were relatively favourable with crude exports seen mln bpd after expected mln this month february and mln january reuter 
acq	combustion csp completes accuray acra buy combustion engineering inc said has completed the previously announced acquisition accuray corp merger trasaction that closed friday dlrs per share reuter 
earn	intelligent systems inp sets initial payout intelligent systems master limited partnership said its board declared initial quarterly dividend cts per unit payable april holders record march the partnership formed year end the conversion intelligent systems corp from corporate form said its board has approved principle quarterly dividend cts per quarter for calendar said part its restructuring may sell some its assets this year with unitholders receiving either cash from the sale stock the acquiring company reuter 
earn	quest medical inc qmed qtr loss shr loss six cts profit two cts net loss profit revs year shr loss four cts profit three cts net loss profit revs mln mln reuter 
acq	oppenheimer has six pct cyclops cyl oppenheimer the brokerage and investment subsidiary oppenheimer group inc told the securities and exchange commission has acquired shares cyclops corp pct the total outstanding oppenheimer said bought the stake connection with risk arbitrage and other investment activities the ordinary course its business said has plans seek control the company friday dixons group plc had acquired cyclops shares giving pct the total reuter 
earn	dune resources ltd dnlaf qtr net shr profit one loss two cts net profit loss revs year shr loss eight cts loss three cts net loss loss revs reuter 
earn	computer systems inc awcsa year end dec shr cts cts net revs reuter 
acq	allegheny international sells wilkinson allegheny international inc said sold its wilkinson sword consumer group the swedish match stockholm for for mln dlrs after settlement intercompany transactions between the wilkinson sword groups and allegheny the net payment swedish match will amount about mln dlrs the wilkinson sword group was transferred the swedish match today except for companies certain countries where approval from government authorities required the company said allegheny said acquired pct interest wilkinson then known wilkinson match ltd and the remaining share this divestiture part allegheny overall restructuring program and strategy concentrate primarily its north american consumer products business the company said reuter 
earn	datron corp datr qtr net shr cts cts net rev mln mln year shr cts cts net rev mln mln reuter 
acq	cmco sells three retail stores said sold three its retail stores omaha bob cummins enterprises inc retail closeout merchandiser said the sale consistent with its previously announced retail division restructuring plans reuter 
earn	centronics cen sets preferred purchase rights centronics corp said its board declared dividend distribution one preferred share purchase right each outstanding common share payable holders record april the rights which will expire years later will entitle shareholders buy one hundredth share new series preferred exercise price dlrs the rights will exercisable only some one acquires pct more centronic common announces offer which would result ownership pct more the stock centronics said its board will entitled redeem the rights two cts per right any time before pct position has been acquired the rights become exercisable the company said those held shareholders other than the owner pct more the stock will entitle the holder purchase number common shares having market value twice the right exercise price reuter 
earn	mcclain industries mccl sets stock split mcclain industries inc said its board declared four for three stock split payable record april the company also said plans open within the next days square foot plant macon that will allow expand production transfer trailers and other products reuter 
acq	heritage communications hci special meeting heritage communications inc said expects hold special shareholder meeting may consider its proposed acquisition investor group including members senior management and tele communications inc tele the company said seeking obtain all regulatory approvals needed complete the transaction before shortly after the special meeting heritage said has filed preliminary proxy materials with the securities and exchange commission and has applied for change control its broadcast licenses with the federal communications commission heritage and tele communications made required hart scott rodino filings with the federal trade commission and justice department march and respectively reuter 
earn	cherokee group inc chke qtr feb net shr cts cts net sales mln mln note share adjusted for two for one stock split february reuter 
acq	louisiana pacific lpx buy wallboard plant louisiana pacific corp said reached non binding agreement principle buy gypsum wallboard plant seattle from norwest gypsum purchase price and other details the agreement were not disclosed reuter 
acq	nobel bofors sell its singapore holding nobel industries sweden nobl said its arms subsidiary bofors plans sell its pct stake allied ordnance singapore ltd because its part weapons exports which contravene swedish law the events have uncovered are unacceptable and highly regrettable incidents our company history nobel chairman lars erik thunholm told news conference nobel managing director anders carlberg said internal inquiry has revealed extensive network international arms smuggling reuter 
earn	dravo drv have first quarter loss dravo corp said expects first quarter loss about cts per share compared with year earlier profit one and said operating earnings for all may not match earnings cts per share from continuing operations dravo saidperformance far this year its engineering and construction segment has not met earlier expectations said the first quarter will impacted writedowns resulting fromn revised estimates costs required complete projects and delays starting work jobs originally forecasted contribute first quarter earnings dravo further said has given the investor group buying dravo river transportation stevedoring and pipe frabrication businesses additional time structure the necessary permanenty financing and closing now expected the third quarter reuter 
trade	economic spotlight congress raps japan the congress making japan with its enormous worldwide trade surplus the symbol the trade crisis and the focus its efforts turn around america record trade deficit japan has come symbolize what fear most trade the challenge our high technology industries the threat government nutured competition and the multitude barriers our exports senate democratic leader robert byrd said can find way come terms with japan over trade problems can manage our difficulties with other countries the west virginia democrat said senate finance committee hearing the trade bill byrd and house speaker jim wright texas democrat have made trade legislation priority this year and wide ranging bill being readied for probable house approval next month japan bilateral trade surplus jumped from billion dlrs billion dlrs last year its surplus rose billion dlrs february from billion dlrs january congress points the record billion dlrs trade deficit and the slow response the trade imbalance the dollar decline world currency markets reason press japan buy more goods they are particularly dismayed the rapid deterioration exports sophisticated computer technology response the growing anger and pressure the semiconductor industry president reagan friday announced intended raise tariffs much mln dlrs japanese electronic goods retaliation for japan failure abide japanese semiconductor agreement congress also has been been angered the administration lack success with japan host other trade issues including beef citrus automobile parts telecommunications goods and financial services the bulk the house trade bill was written last week four committees package trade sanctions and measures force the administration take tough action against foreign trade barriers and unfair competition although most provisions not single out japan many cases their impact would restrict imports japanese products make them more expensive with higher duties the cornerstone the trade legislation passed the house ways and means committee vote its focus force president reagan retaliate against unfair foreign competition and make easier for industries win temporary relief from surges imports the most controversial issue amendment restrict imports countries such japan with large surpluses not buy more goods was left for april vote the house rep richard gephardt democratic presidential aspirant from missouri has the support wright and other key democrats press for passage the amendment the measure would have the most impact japan west germany taiwan and south korea japan for example does not reduce its barriers mid the united states would set import quotas tariffs cut japanese surplus ten per cent year for three years tired going into companies and having managers say not over competing japan because can compete the marketplace that argument needs taken away from american business gephardt said the administration has said could not support trade bill containing such provision 
earn	general public utilities corp gpu two mths net shr cts cts net mln mln revs mln mln mths shr dlrs dlrs net mln mln revs billion billion note results restated for change accounting reuter 
acq	kaufman board units cut quaker ksf stake kaufman and board inc and its insurance subsidiaries said they lowered their stake quaker state oil refining corp shares pct the total outstanding from shares pct filing with the securities and exchange commission the kaufman and board group which includes sun life group said sold quaker state common shares between feb and march prices ranging from dlrs each reuter 
acq	businessman has pct arden group ardna saul brandman california business executive told the securities and exchange commission has acquired shares arden group inc pct the total outstanding common stock brandman chairman domino california inc los angeles garment maker said bought the stake for mln dlrs for investment purposes said may buy more arden group shares may sell some all his current stake also said has plans seek control the company reuter 
money-fx	fed will buy bills for customer after auction the federal reserve said will enter the government securities market after the est weekly bill auction purchase around mln dlrs treasury bills for customers spokesman said said the fed will purchase bills with maturities from may through september dealers said federal funds were trading pct when the fed announced the operation reuter 
earn	metromail corp mtml qtr march net shr cts cts net rev mln mln nine months shr cts cts net rev mln mln reuter 
acq	orange ojay definitive pact sell units orange julius international inc said entered into definitive agreement sell orange julius america and orange julius canada limited holdings inc owned branford castle inc merchant banker members its management and certain its shareholders orange said the purchase price will consist mln dlrs cash and pct redeemable preferred pct common equity and the right for prospectively receive pct certain royalties under proposed licensing program said also agreed lend dlrs advance closing and had already received dlrs orange julius announced the proposed sale the units when letter intent was signed february the company said reviewing other offers buy the units and decides accept another offer will pay agreed upon amount and reimburse for its expenses reuter 
earn	sierracin corp ser qtr net oper shr profit nine cts loss cts oper net profit loss revs mln mln year oper shr profit cts loss cts oper net profit loss revs mln mln note current qtr and year figures exclude losses from discontinued operations dlrs five cts per share and dlrs cts per share respectively prior qtr and year figures exclude losses from discontinued operations dlrs cts per share and mln dlrs cts per share respectively reuter 
earn	computer microfilm corp comi year net shr cts cts net revs note share adjusted for five pct stock dividend reuter 
earn	computer microfilm comi sees higher net computer microfilm corp said expects revenues over mln dlrs and higher earnings the company today reported earnings dlrs revenues dlrs from earnings dlrs and revenues dlrs year before reuter 
earn	kevlin microwave corp kvlm qtr feb net shr profit nil profit five cts net profit profit revs avg shrs nine mths shr loss two cts profit cts net loss profit revs avg shrs note nine mth orders dlrs pct and backlog end period dlrs pct from year before reuter 
earn	unifast industries inc ufst year net shr cts cts net sales mln mln avg shrs reuter 
earn	aztec manufacturing aztc qtr loss shr loss cts loss dlrs qtly div two cts two cts prior net loss loss sales year shr loss cts loss dlrs net loss loss sales mln mln note dividend pay april record april net both periods includes pretax charge dlrs from writedown assets and provision dlrs for obsolete and nonproductive inventory and other items reuter 
earn	gac liquidating trust gactz year net shr dlrs cts net revs note net includes gain two mln dlrs from reduction loss allowance undeveloped land reuter 
acq	investor has pct allegheny int group firms and funds controlled new york investor mario gabelli said has acquired the equivalent shares allegheny international pct the total outstanding filing with the securities and exchange commission the gabelli group said bought the stake part its business and not effort seek control the company said may more shares sell some all its current stake the stake includes common shares and cumulative convertible preferred stock which could converted into common shares reuter 
acq	clayton and dubilier inc sells burpee privately held clayton and dubilier inc said has sold atlee burpee new company formed wicks capital corp bankers trust new york corp and burpee management for undisclosed terms the garden supply company was acquired from itt corp itt december along with scott and sons reuter 
earn	gca corp gca year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note loss includes loss mln dlrs from discontinued operations loss includes gain mln dlrs from discontinued operations reuter 
earn	dow dow sees record annual profits dow chemical believes strong margins for chemical products could result record earnings this year chairman paul oreffice said hoping will have the best year our history profit wise told reporters following speech the american institute chemical engineers meeting believe the entire chemical industry headed for record year close oreffice said dow earned mln dlrs increase from mln dlrs brought about falling oil prices and resulting cheaper feedstock costs oreffice also said dow profit margins chemical products would improve this year over last year said reduced capacity the chemical industry and the weakened dollar would also contribute the company improved performance dow will spending about mln dlrs research and development with emphasis new specialty chemicals oreffice said reuter 
earn	cherokee group chke qtr feb net shr cts cts net sales mln mln per share figures adjusted for two for one stock split february reuter 
crude	crude oil netbacks mediterranean crude oil netback values complex refineries rose slightly the and the mediterranean last friday from the previous week but were lower elsewhere according calculations reuters pipeline the soft tone refining margins reflects large worldwide stocks petroleum products and thin trading activity traders said the gulf sweet crudes rose value much cts barrel for west texas intermediate increase pct from the previous friday while sour crudes such alaska north slope were one pct the mediterranean netback values were cts cts barrel with arab light cts barrel dlrs pct increase from the previous friday and urals were cts barrel dlrs pct increase but netbacks for crude oil refined northern europe was generally lower with brent valued dlrs off cts from the previous friday and bonny light was off cts dlrs barrel refinery netbacks singapore were also lower with heavier and sour crudes weakest arab heavy dropped cts dlrs barrel and dubai was off cts dlrs the west coast however netback values for ans cif were weaker with weak gasoline prices sending the yield cracking plants down cts dlrs from the previous friday shown below dlrs barrel topping cracking the mediterranean region also showed netback values rising last friday over the previous week with the largest gains shown sider and the heavier urals crude oil which were each cts barrel last friday dlrs and dlrs barrel respectively netback values for the mediterranean region are shown below dlrs barrel grade mar mar feb sider arab light iran kuwait urals cif netbacks northern europe refinery region were lower last friday from the previous week with brent falling pct dlrs barrel netbacks for other grades oil refined northern europe are shown below dlrs barrel mar mar feb brent bonny light arab light urals cif refinery netbacks singapore were also lower with heavier and sour crudes weakest arab heavy dropped cts dlrs barrel and dubai was off cts dlrs netbacks for other grades oil refined singapore are shown below dlrs barrel grade mar mar feb attaka arab light oman dubai arab heavy reuter 
acq	investor group has circle express cexx stake investor group controlled new york investor david rocker told the securities and exchange commission has acquired shares circle express inc pct the total outstanding common stock the group rocker partners ltd and compass investments ltd said bought the stake for investment purposes and not part effort seek control the company reuter 
acq	vista management inc make acquisition vista management inc said has agreed acquire general energy development inc for over dlrs cash with financing come from mortgage loans the national auto service centers general energy operates reuter 
acq	golden poultry chik make acquisition golden poultry inc said has signed letter intent purchase privately held food distributor don lowe foods inc pompano beach fla for undisclosed terms subject approval both boards said tampa operations lowe are not involved the sale reuter 
acq	willcox and gibbs make acquisition willcox and gibbs inc said has agreed acquire atlantia electric parts distributor and electric supply for undisclosed amount cash and had sales about eight mln dlrs its most recent year willcox said plans further expansion the atlanta area reuter 
earn	mischer corp mshr qtr loss shr loss cts profit cts net loss profit revs mln year shr loss dlrs loss cts net loss loss revs mln mln reuter 
earn	wichita industries inc wro qtr net shr profit cts profit eight cts net profit profit revs year shr loss dlrs loss cts net loss loss revs note results include credits and for the latest qtr and and for prior periods from tax loss carryforwards results include after tax gains for both periods loss for prior periods disposal discontinued operations prior periods restated reflect sale discontinued operations reuter 
earn	infodata systems inc infd qtr net shr profit cts loss cts net profit loss revs year shr profit cts loss cts net profit loss revs mln mln reuter 
acq	hughes supply hug make acquisition hughes supply inc said has signed letter intent acquire most the assets tri state supply inc wholesale distributor electrinical fixtures and supplies with sales for the year ending tomorrow about mln dlrs terms were not disclosed said clopsing expected around april subject approval tri state board and shareholders reuter 
earn	jmb realty trust jmbrs qtr feb net shr cts cts net six months shr cts cts net reuter 
earn	republic pictures corp rpica qtr loss oper shr loss two cts profit eight cts oper net loss profit revs year oper shr profit cts profit cts oper net profit profit revs mln mln note current qtr and year figures exclude losses from discontinued operations dlrs seven cts per share and dlrs nine cts per share respectively net earnings for first three months restated reflect reduction dlrs resulting from increase effvective income tax rate reuter 
earn	equipment america ecoa qtr net oper shr seven cts four cts oper net sales avg shrs year oper shr cts cts oper net sales mln mln note net excludes tax credits dlrs dlrs quarter and dlrs dlrs year reuter 
acq	ohio mattress omt acquisition settlement ohio mattress said itr has executed definitive agreement acquire sealy mattress michigan inc the detroit licensee ohio mattress pct owned sealy inc subsidiary transaction that also involves settlement between sealy and michigan sealy the company said completion the acquisition the sealy stock owned michigan sealy will redeemed raising ohio mattress interest sealy pct michigan sealy has been litigation against sealy alleging violations antitrust laws and sealy was recently found liable for mln dlrs damages michigan sealy under the acquisition agreement the company said sealy will enter into cash settlement its litigation with michigan sealy the company said shareholders michigan sealy will receive total mln dlrs subject adjustment from the acquisition and the settlement both which are subject regulatory approvals michigan sealy had sales about mln dlrs reuter 
earn	toromont industries ltd year net oper shr cts cts oper net revs mln mln note current shr and net exclude extraordinary loss dlrs dlrs shares versus extraordinary loss dlrs two cts share prior year reuter 
earn	ameron inc amn qtr feb loss shr loss cts profit six cts net loss profit sales mln mln reuter 
acq	york international yrk make acquisitions york international corp said has agreed acquire frick and frigid coil frick inc for undisclosed terms the company said frick makes refrigeration equipment and compressors and frigid coil also makes refrigeration equipment together the two had revenues about mln dlrs the company said hopes complete the acquisition may subject its review frick and frigid and regulatory approvals reuter 
acq	nuclear support nssi buy itt itt henze nuclear support services inc said agreed principle buy the business and assets itt henze service from itt corp for undisclosed amount henze which engaged performing nuclear plant repair work had revenues mln dlrs for the year ended december for nuclear support supplier support personnel and services the nuclear power industry had net income mln dlrs sales mln dlrs reuter 
acq	colonial bancgroup clbga buys farmers colonial bancgroup said acquired farmers and merchants bank baldwin county bank with assets mln dlrs through exchange stock valued about mln dlrs colonial said also signed letters intent acquire first federal bank opelika athens limestone bank athens jackson county bank scottsboro and commercial national bank demopolis with aggregate assets totaling mln dlrs reuter 
acq	rochester telephone rtc completes acquisition rochester telephone corp said completed its acquisition the enterprise telephone based new holland exchange for stock valued mln dlrs enterprises serves about access lines lancaster county enterprise becomes the third operating telephone subsidiary rochester telephone pennsylvania and its sixth largest overall the company said reuter 
acq	home shopping hsn purchase station home shopping network inc said its silver king broadcasting inc unit entered definitive contract buy the broadcasting assets station kwvt channel the portland salem ore area for undisclosed terms additionally the company said kwvt which serves homes began broadcasting home shopping network full time this morning under affiliation agreement home shopping also said entered definitive contract buy station kpst channel san francisco and kltj channel dallas reuter 
earn	covington technologies inc covt year net oper shr profit eight cts loss cts oper net profit loss revs mln mln note current year figures exclude operating loss carryforward gain dlrs and loss from discontinued operations dlrs prior year figures exclude loss from discontinued operations mln dlrs reuter 
acq	bass group says has had talks seeking control taft broadcasting 
crude	lower refinery operations seen producing profits refiners will have reduce operations they want profitable this year said industry officials attending the national petroleum refiners association meeting here the refining sector can discipline itself refine about mln barrels crude oil day have chance pull down inventories acceptable levels the second quarter said archie dunham executive vice president petroluem products conoco inc not the industry will have tough added last week american petroleum institute report said that refining capacity rose three pct pct capacity with crude oil runs mln barrels per day for the week ended march the api said that with the higher crude oil runs distillate and gasoline inventories were sharply above year ago levels gasoline stocks were mln barrels some mln barrels above year ago levels distillate stocks mln barrels are mln barrels above last year level the api said henry rosenberg chairman crown central petroleum corp cnp told reuters that unless refining and marketing return profitability oil companies will have rely downstream operations produce acceptable level earnings the jump refining capacity concern continues said kenneth buckler executive vice president refining and marketing total petroleum subsidiary cie francaise des petroles france refineries should operate near pct capacity given the current level demand but the operating level should increase gasoline demand picks the next quarter buckler said dunham said the potential operable capacity refineries should also cut about barrels crude per day expect see the shutdown more small refineries over the next five years said adding that these facilities refine between and barrels crude oil per day the api said operations have the capacity refine mln bpd crude reuter 
earn	newmont mining nem plans for stock split newmont mining corp board has proposed two for one stock split subject shareholder approval increase mln from mln authorized common shares the proxy for the company annual meeting said holdings voting the may six meeting wilmington del approve the increase authorized shares the split will paid the form stock dividend june holders record may the proxy said newmont said will also ask shareholders approve amendments its certificate incorporation limiting certain liabilities its directors reuter 
earn	denpac corp dnpc year loss shr loss one loss one net loss loss sales note net includes dlr gain from forgiveness accrued interest due affiliates reuter 
earn	ain leasing corp qtr jan loss shr loss six cts profit cts net loss profit revs nine mths shr loss cts profit cts net loss profit revs reuter 
crude	venezuela wants boost its refining capacity venezuela state oil company petroleos venezuela wants raise its worldwide refining capacity barrels per day company official attending the national petroleum refiners association meeting here said declined identified but said pdvsa has the capacity refine about bpd crude oil from refining centers venezuela sweden west germany belgium and the united states the company recently purchased pct stake the corpus christi texas refinery champlin petroleum subsidiary union pacific corp unp earlier bought similar stake the lake charles refinery owned citgo petroleum corp unit southland corp slc according the official venezuela searching worldwide for the additional refining capacity but did not mention where the company was looking refineries abroad said guarantee refining outlet for venezuelan crude oil while ensuring stability supply refiners said venezuela currently produces about mln bpd crude oil which line with its bpd opec ceiling reuter 
earn	primebank pmbk sets pct stock dividend primebank federal savings bank said its board declared pct stock dividend distributed about april holders record march reuter 
earn	american locker group inc algi qtr net shr profit cts loss six cts net profit loss sales year shr profit dlrs profit cts net profit profit sales mln mln note full year includes gains two cts per share from discontinued operations and four cts per share from disposal assets reuter 
acq	bass group says has had talks taft tfb group led members the wealthy bass family fort worth texas which holds pct stake taft broadcasting said has had talks about taking part move take control the company filing with the securities and exchange commission the group said has had discussions with other taft stockholders and some company managers and directors concerning participation group acquire control the company the bass group which did not identify any the other people with whom said has had talks said plans continue evaluating taft and will involved further discussions relating the future control and direction the company the group which holds taft common shares said its members may buy more shares taft common stock may decide sell some all its stake friday taft said would negotiate with group led its vice chairman dudley taft and rhode island investment firm which had offered dlrs share for the company the dudley taft group theta corp which also includes narragansett capital corp providence investment firm seeking take the company private leveraged buyout valued billion dlrs besides the bass group another major taft shareholder cincinnati ohio financier carl lindner has also said has had talks about increasing his stake the company taking part takeover effort launching one himself lindner controls shares taft common stock pct the total reuter 
earn	north american group namg qtr oper loss oper shr loss cts loss cts oper net loss loss revs avg shrs year oper shr loss cts loss cts oper net loss loss revs avg shrs note full name north american group ltd earnings exclude losses reorganization expenses dlrs one share dlrs two cts are the quarter and losses dlrs six cts share dlrs cts share for the year earnings exclude gains discontinued operations four cts share the quarter and gains dlrs cts share dlrs cts share for the year reuter 
earn	oxoco inc year loss oper shr loss dlrs loss dlrs oper net loss mln loss mln revs mln mln avg shrs note excludes loss mln for discontinued compressor operations loss mln year prior excludes gain mln for extinguishment debt from company chapter filing and subsequent reorganization reuter 
earn	teeco properties oper income down teeco properties said the partnership recorded income from operations for dlrs two cts unit the partnerhsip said this compared figures dlrs cts unit results operations between both years not comparable since the partnership principle objective sell dispose its assets and distribute proceeds unit holders according the partnership said the number units outstanding for both years reuter 
earn	brougher insurance group inc bigi qtr loss shr loss nine cts profit cts net loss profit year shr profit cts profit dlrs net profit profit reuter 
acq	santa sfx aware henley heng stake santa southern pacific corp said has discussed with henley group that company almost five pct stake and was told the holdings are for investment purposes have confirmed with the henley group that they own approximately mln shares santa southern pacific common stock they have informed that they like our company and purchased the stock last year for investment purposes santa chairman john schmidt said statement henley late friday filed report with the securities and exchange commission concerning the santa stake earlier santa stock was before slipping reuter 
earn	templeton energy inc tmpl qtr net shr profit four cts loss six cts net profit loss revs mln mln year shr profit three cts loss five cts net profit revs mln mln note includes results louisiana energy and development corp acquired november reuter 
earn	ael industries aelna qtr feb net shr cts cts net revs mln mln mths shr cts dlrs net revs mln mln note year includes charge dlrs cts per share for sale elisra electronic systems ltd reuter 
acq	amoskeag amkg takeover blocked court amoskeag bank shares inc said the new hampshire supreme court overturned its proposed acquisition portsmouth savings bank three two vote the acquisition had been opposed some depositors who filed action block the takeover will respond this news soon have had opportunity analyze the decision and any and all options available chairman william bushnell said statement reuter 
earn	metromail mtma predicts flat earnings metromail corp said expects flat operating profits for its fiscal year ending may with last fiscal year earnings from operations dlrs dlrs share the company said the flat results will due higher than normal expenditures during the fourth quarter for expansion its data processing capabilities earlier metromail reported fiscal third quarter earnings mln dlrs cts share versus three mln dlrs cts share the prior third quarter and nine months net mln dlrs cts share versus mln dlrs cts share the prior nine months reuter 
acq	ball bll ends talks with monsanto mtc ball corp said was unable complete negotiations acquire the plastic container business monsanto said the two companies had entered into exclusive negotiations last october neither company provided details why the talks were terminated reuter 
acq	reef energy rfen enters pipeline agreement reef energy corp said its board entered into agreements with penteco corp private tulsa based company buy pct interest the general partnership penteco east central pipeline and pct interest lincoln gas and marketing corp penteco east gas gathering and transmission system southern kansas and northern oklahoma said penteco turn has purchased one mln shares reef common and taken options for the purchase another two mln shares over the next months reuter 
earn	ameron inc amn qtly dividend shr cts cts prior qtr pay may record april reuter 
earn	johnson electronics inc jhsn qtr loss shr loss three cts profit eight cts net loss profit revs year shr profit four cts profit cts net profit profit revs note net income included after tax gain cts per share sale real property reuter 
money-fx	treasury balances fed fell march treasury balances the federal reserve fell march billion dlrs from billion dlrs the previous business day the treasury said its latest budget statement balances tax and loan note accounts fell billion dlrs from billion dlrs the same respective days the treasury operating cash balance totaled billion dlrs march compared with billion dlrs march reuter 
earn	morrison inc morr qtr feb net shr cts cts qtly div cts cts prior qtr net revs mln mln nine mths shr dlrs one dlr net mln mln revs mln mln note per share data reflect march five pct stock distribution cash dividend payable april holders record april reuter 
acq	vanderbilt vago raise common merge vanderbilt gold corp said shareholders special meeting approved its reincorporation delaware increase authorized common mln shares from mln shares and non qualified stock option plan also said shareholders approved the merger morning star mine interests held six corporations exchange for issuing shares its common said the acquisition brings its ownership morning over pct and intends acquire the remaining interests before mid year said its plans call for production ounces gold with product costs per ounce about dlrs reuter 
grain	report export markets for grain delayed the agriculture department report export markets for grain scheudled for release today has been delayed until wednesday april department spokeswoman said reason was given for the delay releasing the monthly report reuter 
acq	bilzerian tells sec ups pay pak stake pct 
acq	bass group emerges possible taft tfb bidders the bass group once thought analysts eager sell its holdings taft broadcasting emerged another potential bidder for the ohio broadcasting company the bass group which holds pct taft said had talked with other taft stockholders and some company managers and directors concerning participation group acquire control the company the bass group said had talks with other taft stockholders and members taft management about participating group acquire control the group which led the wealthy bass brothers fort worth texas did not identify any the other people with whom had talks taft said friday would negotiate with its vice chairman dudley taft his group dlr per share billion dlr offer for the company the time the company said authorized its adviser goldman sachs and explore other takeover proposals and supply financial data other interested bidders indeed the reason dudley taft longer president because the bass group tossed him out couldn see them backing him any deal said one analyst who asked not identified think they wanted way out now this sounds like they going join the group and buy themselves out said edward atorino media analyst with smith barney harris upham and analysts have speculated that carl lindner may interested acquiring the company they speculated may one the shareholders talks with the bass group lindner chairman american financial corp holds pct taft was not immediately available for comment analysts have said they are baffled the strength taft stock price compared what they see breakup values for the company several analysts had estimated break value less than one analyst said believes has breakup value dlrs per share taft stock closed they investors are saying here another one another family dispute said dennis mcalpine oppenheimer reuter 
trade	trade official says japan action foolish high level trade official said would foolish for japan strike back against the united states for its sanctions japanese semiconductor electronics products asked reporters japan was expected retaliate against exports deputy under secretary commerce bruce smart replied that would the height foolishness addition doubted japan could show enough progress meeting the conditions the agreement avoid the actual imposition the mln dlrs tariffs april japan billion dlr trade surplus with the united states last year has come under fire congress concerned about the loss jobs foreign competition and with the record billion dlrs trade deficit president reagan sanctions decision won praise today from the two democratic leaders congress think about time senate democratic leader robert byrd west virginia told reporters house speaker jim wright texas told reporters before the opening the house session just shows were right all along when said something needs doing smart testified before senate labor committee hearing that last friday trade action would help negotiations access japan for auto parts since last august smart has been leading talks open japan purchases more made automotive parts last year japan racked billion dlr trade surplus with the united states these products both countries expect conclude the talks august amazing that the japanese were surprised hope will persuade them serious smart said the white house trade sanctions the united states has tried convince japanese car companies the quality american made parts and draw them away from their traditional japanese suppliers all ask chance have job persuading them can better than our reputation seems said measured per car each american made car contained about dlrs japanese auto parts while each japanese made car contained about dlrs auto parts smart said reuter 
acq	bilzerian ups pay pak pnp stake pct investor paul bilzerian who has said may seek control pay pak stores inc said raised his stake the company one mln shares pct the total from shares pct filing with the securities and exchange commission bilzerian and bicoastal financial corp tampa fla investment firm controls said they bought shares pay pak common stock march and prices ranging from dlrs share bilzerian last week said was considering raising his stake the company seeking board seat control reuter 
acq	service resources src unit sets purchase service resources corp chas young subsidiary said agreed acquire atwell fleming printing ltd canadian financial printer for about mln dlrs young said the acquisition which expected close april subject due dilligence review reuter 
earn	lle royalty lrt sets monthly payout and royalty trust said its monthly dividend for january unitholders will cts per unit payable april holders record april six previously reported pending ruling from the internal revenues service the trust distribution may reduced dlr per unit plus interest spread out over the life the productive properties which the trust has interest lle said the working interest owner which the irs sent notice about deficiency the owner tax return evaluating the necessity escrowing some funds which would significantly reduce royalties paid the trust reuter 
acq	genova gnva merge into genova products genova inc said its shareholders approved merger into genova products inc which will consumated within few days under the agreement genova said each its shareholders will receive dlrs per share cash reuter 
earn	imperial bancorp iban sets five pct dividend imperial bancorp said declared five pct stock dividend payable may shareholders record april reuter 
acq	service resources src unit acquisition chas young subsidiary service resources corp said signed definitive agreement acquire atwell fleming printing ltd canada for about mln dlrs the transaction expected close april february chas young said had aquired pct the shares sorg inc srg facilitate newgotiated business combination reuter 
earn	aec inc aece sets regular payout qtrly div eight cts eight cts prior pay april record april reuter 
crude	shell canada schedules annual refinery shutdown shell canada ltd pct owned royal dutch shell group scheduled its annual maintenance refinery shutdowns during the next two months company spokeswoman judy wish said wish said refineries will stockpile production before the shutdowns maintain normal supply while maintenance carried out production shell major refinery strathcona alberta will closed for about one month wish said there will layoffs associated with the refinery maintenance she added reuter 
acq	dixons group audio video ava end litigation dixons group plc said that pursuant agreement with audio video affiliates inc part investor group that made rival bid for cyclops corp cyl all litigation between them has been dismissed part the agreement dixons said cyacq corp the audio video investor group that includes citicorp capital investors ltd agreed promptly terminate its existing tender offer for all outstanding cyclops common dlrs per share dixons said agreed pay additional dlrs per share dlrs per share each shareholder whose shares were purchased under its offer for cyclops dlrs per share friday dixons announced that had increased its holdings cyclops corp about pct the currently outstanding shares and that intended increase dlrs from dlrs the amount per share paid the merger dixons subsidiary with cyclops reuter 
acq	dot approves american amr aci acf pact the department transportation dot said gave final clearance the proposed mln dlr acquisition aircal inc american airlines inc the acquisition not likely substantially lessen competition inconsistent with the public interest the dot said statement aircal unit aci holdings inc while american unit amr corp the dot had given tentative approval the merger plan feb american the third largest airline terms revenue passenger miles while aircal relatively small carrier that primarily serves west coast cities the nation largest passenger carrier their merger would not alter american third place ranking according data compiled aviation daily leading industry trade magazine the combination would incrase american share the market pct from its current pct the dot said the dot said the merger was unlikely substantially reduce competition the four routes which both carriers provide either nonstop single plane service the terminals served both carriers the dot said found evidence that other carriers could not increase begin service that competed with merged american aircal concerning the while entry may not possible the orange county airport the near future dot found that the service provided other airports the los angeles area especially the los angeles international airport will provide effective competition for orange county travelers long haul markets the dot said the merger would give american control pct the authorized takeoff and landing slots the orange county terminal where environmental concerns and small terminal building limit future opportunities for expansion the dot said the air line pilots association filed comments opposing the merger but raised new facts arguments under the merger terms announced nov american will pay dlrs share for the outstanding stock aci holdings reuter 
money-fx	credit markets end under extreme pressure the credit market ended under extreme pressure the dollar continued slide the currency markets triggered avalanche securities sales pushing prices lows dealers and analysts said this was bloodbath said one money market economist been trading state total panic times today said another mirroring the dollar fall year low against the yen the key pct year treasury bond price fell nearly two points close compared with friday the corresponding yield jumped pct from reuter 
earn	inland vacuum ivac sets stock split inland vacuum inc said board proposed two for one stock split payable shareholders record april the board also elected phillip frost chairman succeeding john durkin who remains president and chief executive officer frost early february bought pct the company durkin said stockholders the annual meeting approved measure change the company name ivaco industries inc five new directors were also elected the company board durkin was elected the board the company said reuter 
earn	johnson products inc jpc qtr feb loss shr loss three cts loss cts net loss loss rev mln mln six months shr profit four cts loss cts net profit loss rev mln mln note net includes loss from discontinued operations dlrs two cts share versus cts share the prior qtr six months net includes gain from discontinued operations dlrs three cts share versus loss dlrs cts share the prior six months reuter 
earn	maynard oil moil year loss oper shr loss cts profit cts oper net loss mln profit four mln revs mln mln avg shrs mln seven mln note prior year excludes extraordinary gain cts per share reuter 
earn	kansas gas and electric kge february net shr cts cts net rev mln mln months shr dlrs dlrs net rev mln mln note twelve months includes the cumulative effect change accounting methods for accruing unbilled revenues mln dlrs cts per share reuter 
earn	journey end motel corp six mths jan net shr cts cts net revs mln mln avg shrs reuter 
acq	neoax noax buys rexnord rex unit neoax inc said bought rexnord inc fairfield manufacturing for mln dlrs cash the unit makes custom gears for industrial use and had sales mln dlrs its oct fiscal year reuter 
earn	crain inc qtr net shr cts cts net sales mln mln reuter 
crude	exxon xon sees synfuels role year development costly shale oil liquified coal and other kinds synthetic fuels halted recent years because cheap and abundant petroleum supplies will become economic again when world oil prices top dlrs barrel exxon usa executive said joe mcmillan senior vice president told reuters after addressing houston meeting the american institute chemical engineers early the next century synthetics should play significant role this country energy supply mcmillan also told reporters news conference that believed synthetic fuels would become economic develop when world oil prices reached dlr barrel price range you talking about pct increase crude oil prices but think that time coming and got prepared mcmillan said predicted oil demand would rise about one pct annually the next few years while the nation fails replace its oil reserves through exploration the turn the century world oil prices will significantly higher because declining supplies mcmillan said ashland oil inc chairman john hall who also spoke the meeting advocated some form federal tax incentives help spur development synthetic fuels the united states hall said has nearly billion tons demonstrated coal reserves amount more than triple that all the world known oil reserves must encourage research now order make synfuels competitive later hall said the average lead time for development shale oil liquified coal project between five and ten years until last year the federal government had subsidized synfuels development through the synthetic fuels corp research program created during the carter administration with the goal developing replacements for two mln barrels oil the corporation was shut down last april when congress refused continue funding its eight billion dlr budget because uneconomic projects based forecasts dlrs barrel oil and dlr per mcf natural gas during this decade reuter 
earn	canada banks could see pressure brazil loans canada major banks will likely face stiff pressure declare their brazilian loans non performing expected major banks take similar action after the end their first quarter tomorrow analysts said american bankers said last week that slow progress debt talks with brazil increased the likelihood that banks would soon declare their brazilian loans non performing such action would put lot pressure the canadian banks the same levesque beaubien inc toronto based bank analyst donna pulcine told reuters they banks like appear conservative said pulcine and major bank puts loans non performing basis and the canadian banks don there going lot pressure from shareholders why one bank considering the loans non performing and another bank not wood gundy inc bank analyst patricia meredith said any willingness major brazilian bank creditor such citicorp cci declare its brazilian loans non performing rather than let brazil dictate settlement terms would provide compelling example for other creditor banks order make that strategy work they citicorp have have the support the other banks said meredith bank analyst michael walsh first marathon securities ltd said least one canadian bank which declined identify wants put the brazilian loans non performing basis and trying encourage the others take that position canadian banks are owed about seven billion canadian dlrs brazil which late last month suspended interest payments its billion dlr foreign bank debt banks canada although allowed wait days before declaring loans which they are receiving interest non performing usually move such loans within days they could therefore delay action the brazilian loans until late may which falls canadian banks third quarter ending july bank montreal brazil largest canadian bank creditor said last week was not currently considering declaring its billion dlrs brazilian loans non performing think that just for the benefit the public walsh said bank montreal statement some analysts predicted minimal earnings impact canadian banks from move declare the brazilian loans non performing they said brazil would likely resume interest payments the banks fiscal year end october thus allowing banks recoup their lost interest income from what brazil has said quite likely the banks will get the money said meredith outlook this point optimistic that there will adjustment for the full year earnings meredith forecast fully diluted per share earnings dlrs for royal bank canada compared with dlrs for bank montreal compared with dlrs for canadian imperial bank commerce compared with dlrs for bank nova scotia compared with and dlrs for toronto dominion bank against she forecast dlrs for national bank canada against dlrs before two for one stock split analyst pulcine said she might lower full year earnings estimates for the banks between two cts and cts share assuming possible settlement reduced brazil interest costs the banks didn receive anything for the rest the fiscal year the impact could range from cts cts share but don see that likely scenario pulcine said walsh first marathon suggested however that the brazilian debt situation was complex that could drag beyond one full fiscal year said foresaw having lower his fiscal earnings forecasts for the banks estimated that brazil yearly interest payments canadian banks totaled about mln dlrs about pct their total pre tax earnings reuter 
acq	infinity infta purchase station infinity broadcasting corp said entered agreement acquire radio stations kvil from sconninx broadcasting for mln dlrs upon completion the transaction infinity will own nine and four stations major markets the transaction subject fcc approval reuter 
earn	bull and bear group inc bnbga year end dec shr loss cts profit cts net loss profit revs reuter 
earn	fretter inc fttr qtr jan net shr loss five cts profit cts net loss profit revs mln mln year shr profit cts profit cts net profit profit revs mln mln reuter 
acq	amfac ama sell store amfac inc said entered agreement sell the last remaining store its original liberty house california operation and san mateo inc terms were not disclosed reuter 
acq	harper international hnt acquisition harper international inc said intends buy the major asset patents and trade name demarkus corp designer and installer process gas systems for the soft drink and brewing industries the purchase price about dlrs demarkus sales were dlrs reuter 
acq	olson industries olsn sell egg operations olson industries inc said signed letter intent sell substantially all its remaining egg operations sunny fresh foods inc olson said expects receive about nine mln dlrs from combination sale tangible assets sunny fresh and realization intangible and other assets olson the transaction expected result charge for discontinued operations about two mln dlrs but also expected generate substantial cash flow pay off egg related indebtedness about mln dlrs and further improve working capital reuter 
acq	gencorp rejects unsolicited takeover bid from afg industries wagner and brown 
acq	group sells stake comdata network cdn group investment firms which had once sought control comdata network inc told the securities and exchange commission sold its remaining share pct stake the company the group which had owned much pct the total said sold the stake march dlrs share last week sold comdata shares group members are cni partners investment partnership mason best texas investment partnership and houston imperial corp real estate development firm reuter 
acq	gencorp rejects unsolicited takeover bid gencorp inc said its board urged shareholders reject the hostile unsolicited dlr share tender offer made march general acquisition inc affiliate wagner and brown and afg industries inc gencorp also said developing financially superior alternative that would enable shareholders benefit from the full value the company letter shareholders chairman william reynolds said the offer highly conditional contingently financed bust offer that seeks deny shareholders the true value their investment gencorp reynolds said the board reached its decision reject the offer after careful study with legal and financial advisers said the board has authorized management explore alternatives aimed providing shareholders with financially superior alternative the general acquisition offer gencorp spokesman response questions would not comment market speculation that the company management may develop leveraged buyout offer its own would also not comment when better alternative might developed gencorp stock has traded well above the dlr offer price since the tender was made today gencorp closed reynolds said the letter that for the last few years gencorp management has taken action enhance shareholder value and the stock price and earnings have improved since joined the company gencorp said the partnership offer bargain price acquisition that was using financing from syndicate banks that does not yet exist and bridge loan from shearson lehman brothers that shearson not obligated provide reynolds also said the offer would result radical alteration and selloff gencorp assets including aerojet general refinance general acquisition borrowings with the profits going wagner and brown and afg instead shareholders the letter also said the general acquisition offer jeopardizes the security and interests its shareholders employees customers suppliers and the communities throughout the country where the company facilities are located reuter 
earn	dome mines ltd qtr net shr profit cts loss three cts net profit loss revs mln mln year shr profit cts profit cts net profit mln profit mln revs mln mln note net includes extraordinary gain mln dlrs from investment sales gain share issue pct owned campbell red lake mines ltd crk and provision for decline value marketable securities net includes gain mln dlrs revs restated exclude revenues from discontinued coal mining operations under accounting practises dome mines would have reported loss mln dlrs dlrs shr ago loss mln dlrs cts shr reflecting different principles accounting for pct stake dome petroleum ltd dmp and oil and gas writedown reuter 
crude	should reassess mideast policy analyst the should reassess its mideast policy light its rising dependence imported oil according charles ebinger the center for strategic and international studies the prospect rising dependence oil imports from the gulf and the recent revelations the tower commission report mandate more than ever before the need for fundamental reassessment interests the middle east ebinger said remarks were made address the national petroleum refiners association meeting although the short run difficult see direct link between arab anger and threats oil supplies the current environment will increasingly difficult for moderate arab leaders seen friendly interests ebinger said oil traders said threats oil supplies has kept crude oil prices strong recently although some believe prices will weaker demand falls the spring but william randol analyst first boston corp said crude oil prices will hold near current levels this spring there will spring downturn said randol speaking the annual refiner meeting said there pct chance that crude oil prices could move higher the second half the year following opec meeting scheduled for late june said expects opec will extend its current agreement restrict production opec will renew its production pricing agreement june because the value the oil exports the opec producers has declined along with the dollar randol said opec oil exports are priced dollars and the dollar has fallen about pct the last months randol said crude oil imports will increase four mln barrels per day consumption rises two mln bpd and supplies decline two mln bpd reuter 
earn	envirosure management corp envs qtr loss qtr ended nov shr loss nil profit nil net loss profit revs reuter 
earn	commercial metals cmc sets qtly dividend qtly div eight cts eight cts prior pay april record april reuter 
earn	imperial ica declares first div since imperial corp america said declared cts dividend and four pct stock dividend april holders record april this the first dividend payment since the company said reuter 
earn	smith international inc sii qtr loss newport beach calif shr loss dlrs loss dlrs net loss mln mln revs mln mln year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note current qtr net includes pretax charges mln dlrs against inventory adjustments and currency costs related fluctuations italian lira current year net includes pretax charges mln dlrs for provision reduce carrying value excess capital assets and writedown certain inventories and other assets also includes charges mln dlrs covering costs workforce reductions relocation and chapter year ago net includes pretax charges related judgment against company litigation with hughes tool mln for qtr and mln dlrs for mths reuter 
acq	partners call gencorp response unproductive general acquisition said was disappointed gencorp response its tender offer and questioned how the company might give better value shareholders gencorp earlier urged shareholders reject dlr per share tender offer from the partnership which includes wagner and brown and afg industries inc the company said was studying financially superior alternatives the partnership called the response inflammatory and unproductive particularly since had attempted discuss the offer with gencorp the partnership said gencorp failed say how would provide superior value yet they continue their attempt prevent satisfactory offer failing redeem their poison pill poison pills are shareholder rights plan that make takeovers more expensive gencorp said its statement earlier that the date its rights will trade separately from the common stock was extended april six from april three said the extension was subject further extensions the board and conditioned person aquiring beneficial ownership pct more gencorp prior april six general acquisition said confident its offer can completed timely manner using its financial arrangements the partnership its statement again urged management work with facilitate transaction reuter 
earn	woodside petroleum ltd wpla year shr nil same final and div nil same pre tax pre minorities loss mln dlrs profit mln net attributable loss mln dlrs loss mln sales mln mln other income mln mln shrs mln same note attributable net loss after tax mln dlrs mln interest mln mln depreciation mln mln and minorities mln mln but before net extraordinary loss mln loss mln reuter 
earn	woodside says loss reflects lower oil prices woodside petroleum ltd wpla said its net loss largely reflected the drop oil prices combined with large tax provision woodside earlier reported attributable net loss rose mln dlrs from mln although group revenue rose mln from mln said should have received mln dlr tax credit but instead made mln dlr tax provision this largely related its vamgas ltd unit non allowable exchange losses and tax benefits from the north west shelf project not recognised the accounts woodside said the rise revenue largely reflected full year sales gas and condensate from the domestic phase the shelf project against six month sales offsetting this was pct fall the cooper basin gas and liquids revenue its pct owned vamgas unit since the balance date woodside has accepted santos ltd stos takeover offer for vamgas woodside said mln dlr capital profit the sale would included the accounts said lifted capital spending fixed assets mln dlrs from mln mostly the shelf project reuter 
trade	european community set office peking china and the european community signed agreement the establishment office here chinese vice foreign minister zhou nan and the external relations commissioner willy clercq signed the accord sources said the office was likely open the second half this year the was china third largest trading partner with chinese imports from the worth billion dlrs and exports worth billion dlrs clercq told the official china daily that more joint ventures should set china way reducing china trade deficit with the the affairs china are currently looked after whichever country holds the group six monthly rotating presidency now held the belgians until the danes take over july reuter 
trade	trade friction threatens topple nakasone prime minister yasuhiro nakasone may have been dealt fatal political blow the yen renewed rapid rise and the threat trade war with the united states political analysts said nakasone already under fire over unpopular tax reform plan may now forced resign before the june economic summit seven industrialised nations local elections later next month against candidates from his ruling liberal democratic party ldp they said the close relationship between nakasone and president reagan was important element nakasone power base waseda university political science professor mitsuru uchida told reuters the emergence criticism damages nakasone even before the latest trade friction flared nakasone was encountering criticism not only from opposition parties but also within his own ldp over his proposal levy sales tax many factions within the ldp are distancing themselves from nakasone uchida said his position within the ldp itself not strongly established today nakasone who has been more popular with the general public than with many ldp members now seeing his public support eroded the analysts said the yen rise record highs and the threat friday impose tariffs japanese electronics goods retaliation for japan alleged violation microchip trade pact are now giving nakasone critics fresh ammunition the analysts said apparently the special relationship between reagan and nakasone hasn worked effectively rei shiratori director the institute for political studies japan said this making the japanese people doubt nakasone credibility shiratori told reuters the cumulative impact the sales tax issue the yen rise and mounting trade friction could mean serious ldp losses the april and local elections analysts said the elections against the ldp nakasone may have resign early shiratori said but nakasone still has chance soothe tempers before during his week long washington visit from april some analysts said however unless the japanese political system can move more quickly give nakasone some nice present take washington smouldering trade issues will face very hostile audience said merrill lynch securities economist william sterling the trip major disaster would seem put the final nail his coffin said reagan own weakened domestic position and growing republican well democratic anger with japan argue against quick settlement the trade dispute the analysts said but desire both sides find some solution coupled with uncertainty home and abroad over likely successors nakasone could still lead attempt paper over the differences and aid nakasone they said one factor against trade war may that washington not anxious push nakasone into his grave sterling said reuter 
acq	csr selling delhi exxon unit drops delhi float csr ltd csra and exxon corp xon unit esso exploration and production australia inc said csr has agreed sell its delhi australia fund daf esso for mln australian dlrs the sale effective from tomorrow they said joint statement the previously announced float part its delhi interest will not now proceed csr said the statement delhi australia fund owns delhi petroleum pty ltd which holds average pct the santos ltd stos led cooper and eromanga basin gas and liquids projects addition the purchase price csr will share equally any returns due increases crude oil and condensate prices over certain levels for liquids produced from delhi interests the next two years the statement said the esso proposal purchase all the delhi interest will more beneficial our shareholders than proceeding with the float csr chief executive bryan kelman said the statement kelman said the sale delhi would enable csr focus efforts expanding business areas such sugar and building materials which csr has had long and successful management experience and strong market leadership with the sale csr will able expand those businesses more aggressively and earlier said reported separately soon after announcing the delhi sale csr launched takeover bid for the pct pioneer sugar mills ltd that does not already hold valuing its entire issued capital mln dlrs after bass strait the onshore cooper and eromanga basin australia largest oil and gas producing area with current gross oil production barrels per day bdp gas liquids output bpd and gas sales mln cubic feet day the csr esso statement said the purchase gives esso partner with the broken hill pty ltd brkn the bass strait its first onshore production australia they said esso chairman stuart mcgill said hoped esso can assist maintaining the high rate oil and gas discoveries the cooper eromanga area these discoveries will help australia self sufficiency oil reserves thereby offsetting part the decline bass strait production now under way mcgill said separately released letter csr shareholders kelman said csr was within days completing plans for the float csr petroleum when received offer from esso said csr convinced the sale was the correct decision view the risks associated with the oil business the price sharing arrangement provides for csr share equally with esso higher returns oil prices average more than dlrs barrel the next two years said kelman said revaluation csr investment delhi net realisable value today csr annual balance date will result extraordinary loss mln dlrs however revaluations and profits sales other assets will significantly reduce this loss said also said that csr sufficiently encouraged future prospects and the opportunity reposition the group core businesses foreshadow increase final dividend payable july cents from nine make annual cents against reuter 
earn	commerzbank increases dividend parent net profit commerzbank cbkg said dividend nine marks would proposed for ordinary shareholders earnings after eight added statement that parent net profit rose mln marks from mln the prior year commerzbank spokesman noted the figures were however preliminary and required approval the bank supervisory board which meets today the commerzbank statement added the distributable profit last year rose mln marks from mln with inclusion the corporate tax allowance qualifying domestic shareholders would receive effective dividend marks per share total dividend payout would rise mln marks from mln earnings due the increase the dividend and equity capital added from the parent net profit mln marks would placed published reserves unchanged from the two prior years the shareholders meeting take place may hamburg the statement said holders commerzbank participation certificates total nominal value mln marks would receive the remaining mln marks the distributable profit aside from the basic payment pct nominal value certificate holders would receive additional pct the management board the bank would also propose two capital measures shareholders order able react quickly new challenges would ask for authorised capital nominal mln marks for the issue new shares and for mln for the issue warrant bonds both for the period until april reuter 
acq	shandwick buys los angeles company public relations consultancy shandwick plc said had agreed buy the los angeles based rogers and cowan inc which specialises the entertainment industry total mln dlrs payable completion mln will injected into the business through interest free loan and the expenses the acquisition amount stg shandwick said would raise mln stg through the placing mln shares finance the deal with the balance mln stg used strengthen the balance sheet and anticipation future performance related payments the year end september rogers operating income was more than mln dlrs after the acquisition shandwick operating income will comparable that earns the rogers estimated that pretax profit the year end would exceed dlrs extraordinary loss dlrs resulted from the write off assets net tangible assets end september were dlrs shandwick shares were unchanged reuter 
money-fx	money market offered early assistance the bank england said had invited early round bill offers from the discount houses after forecasting very large shortage around billion stg the money market today more 
earn	hutchison announces bonus issue new shares hutchison whampoa ltd hwhh announced bonus issue one new share cents each for every two existing ordinary shares cents share par value company statement said hutchison forecast dividends for existing shares not less than cents share and not less than cents for each share hutchison said the new issue will help increase flexibility when planning future expansion moves making acquisitions without affecting the existing control structure the group the move will provide long term stability ensure continuity overall control the hutchison group that provides hutchison with stable framework within which management development and the planned growth the group businesses can take place added hutchison shares lost one dlr end dlrs each today reuter 
trade	europe sidelines japan microchip row rising imports japanese made cars and electronic goods may upset west european officials but they generally seem prepared stay the sidelines the latest trade row between the united states and japan japan huge trade surplus sore point west europe the united states but charges unfair trade practices involving computer microchips leave europeans cold the european community ran billion dlr trade deficit with japan last year and seeks redress when feels japanese trade policy hurts europeans diplomats and economists said but only britain has there been any suggestion acting with the something about japan huge trade surplus the more illiberal trade issues than the said martin wolf director studies the trade policy research centre london basically their policies are pretty much the same but that did not mean europe would support the that the would climb the bandwagon take advantage the dispute press its own claims wolf said basically europeans have different approach trade problems said the people talk about fair trade but not here added the all has with the general ethic free competition while europe the general approach that liberal trade good because makes countries rich wolf said this basic attitude explains washington tendency impose called countervailing duties import tax designed offset advantages alleged unfair western europe the approach trade disputes tends try reach settlement through negotiation wolf said the latest japan trade row president reagan has threatened raise tariffs selected japanese electronic goods much mln dlrs alleging that japan has failed abide japan pact microchip trade but the european community has challenged the agreement violation general agreement tariffs and trade gatt practices that discriminates against its microchip producers follows that they not likely rally the side the united states defence the agreement said wolf although british parliamentarians are pushing for tough line japanese trade issues government officials the rest europe told reuter correspondents they would let the take the lead any response the japan trade row spokeswoman for the commission brussels told reuters there has been change the community position since march meeting foreign ministers which sent strong warning tokyo trade imbalances statement issued after that meeting foreign ministers deplored japan continued trade imbalance and appealed for greater japanese effort open its markets external trade commissioner willy clercq said after the talks there was growing impatience with japan the diplomats accredited the brussels said they saw signs any immediate intention impose any broad ranging sanctions against japan the anxious avoid provoking trade war they said instead the community trying target problem areas european trade with japan including wines and spirits cosmetics and financial services and will continue talking try improve the situation the diplomats said britain where the government angered over the difficulties telecommunications giant cable and wireless has faced its bid crack the japanese market officials said last week that retaliatory action being considered but government officials said last night are not talking about days weeks this going take time they said the government would consider its options cabinet meeting thursday but added that final decisions were expected the main thing the british would threaten the japan with denial access london booming financial markets government officials said reuter 
acq	london int selling hot water bottle unit london international group plc lonl said had agreed sell its haffenden moulding ltd unit melton medes ltd for mln stg haffenden moulder hot water bottles and also produces variety rubber and plastic mouldings the book value its assets mln stg lig said the disposal was part its strategy concentrating its core activities lig shares were one penny firmer reuter 
acq	cable shares firm japan speculation shares cable and wireless plc cawl firmed morning trading market speculation that its participation joint telecommunications venture japan would not curtailed dealers said the company shares were quoted gmt compared with last night the dealers said the speculation appeared originate japan cable has said resisting attempts the federation economic organisations merge two japan based telecommunications firms move which would have cut cable stake from pct one three pct the merged unit however the dealers were uncertain exactly how the dispute over the shareholdings had been resolved british prime minister margaretthatcher said parliament last week that she regarded cable and wireless participation the japanese venture test case how open the japanese telecommunications market really was spokesman for cable said was unaware the speculation had any foundation cable itself had issued statement today the issue reuter 
earn	akzo revises profit slightly dutch chemicals group akzo akzo said its annual report had revised its net profit figure mln guilders from provisional mln guilders announced january the turnover figure was unchanged billion guilders akzo said would difficult maintain this profit level but expected positive developments the longer term profits totalled mln guilders turnover billion reuter 
acq	adsteam acquire pct property company the adelaide steamship ltd adsa adsteam said will subscribe mln shares listed british property developer markheath securities plc each subject shareholder approval the subscription expected take place may will give adsteam pct markheath adsteam said statement adsteam managing director john spalvins will become chairman markheath and two other adsteam nominees will join its board hope that time markheath will become significant property and industrial company the same style adsteam spalvins said the statement reuter 
earn	nippon columbia make bonus stock issues nippon columbia ltd ncol will make one for bonus stock issue july pay back remaining premiums accumulated mln shares issued market price through public placement september spokesman said the bonus issue will bring its outstanding capital shares mln from mln march open shareholders registered may nippon columbia share price fell yen the tokyo stock exchange today reuter 
earn	kleinwort benson lonsdale plc kbll year shr adjusted div making adjusted pretax profit mln stg mln net after tax mln mln extraordinary credit after tax mln nil note the extraordinary credit represents substantitally the after tax profit sale company interest and group plc after providing for the final dividend retained earnings were mln mln merchant and investment banking mln mln bullion broking mln mln government security dealing mln loss investment management and unit trusts mln mln other activities loss mln profit mln interest loan capital mln mln disclosed shareholders funds mln mln disclosed capital resources available mln mln reuter 
earn	cgee alsthom year end december dividend francs consolidated net profit mln francs mln which attributable group mln mln consolidated net turnover billion francs billion parent company net profit mln mln parent net turnover billion billion note the electrical contracting company pct owned the state run compagnie generale electricite cge reuter 
trade	thatcher says trade targets set with moscow british prime minister margaret thatcher said she and soviet premier nikolai ryzhkov had set targets for increased trade between the two countries during talks earlier today she said she hoped more economic exchanges between britain and the soviet union will also lead increased friendship and increased understanding earlier she told meeting soviet and british businessmen that she had agreed with ryzhkov that they would work achieve total volume billion roubles bilateral trade this would entail increase each side mln stg over their present export levels ryzhkov handed list import and export opportunities which hope you will all jump she told the meeting mark the opening new offices the british soviet chamber commerce after her talks with ryzhkov thatcher and the soviet premier were joined for the signing agreements covering new scientific and cultural exchanges kremlin leader mikhail gorbachev who had nine hours talks with her yesterday reuter 
trade	japan cut microchip output boost imports leading domestic semiconductor makers will boost imports and cut production key memory microchips from next month line with government attempts ward off trade sanctions company spokesmen said the moves might persuade the call off the sanctions despite obstacles full implementation the plans analysts said the tariffs will affect about mln dlrs worth products and are retaliation for japan alleged failure honour semiconductor trade pact announcing the sanctions last friday president reagan said japan had not fulfilled its promise halt predatory pricing and open japan market foreign products but trade representative clayton yeutter said yesterday television that the willing drop the tariffs japan shows clear indication that will open its markets goods the ministry international trade and industry miti has urged producers slash output the chips pct the second quarter following call reduce production more than pct the previous quarter miti also urged makers boost chip imports analysts said the moves could encourage washington cancel the tariffs ahead next month meeting between prime minister yasuhiro nakasone and president reagan the wants satisfied has rattled its sword and shown that can and will business said analyst nick edwards jardine fleming securities ltd tokyo but analysts cautioned that although japanese producers can cut output boosting imports the key withdrawal the sanctions more difficult the does not have the low end consumer integrated circuits that the japanese need for consumer products they well supplied here said richard may senior analyst barclays zoete wedd ltd tokyo the leads production medium and high end but japanese makers are keen develop their own high end production skills the analysts said the japanese must prepared trade some losses semiconductors return for free access other areas said edwards spokesman for hitachi ltd hit said the firm reduced output kilobit dynamic random access memory dram was unrelated miti efforts ward off the trade sanctions decreased production was natural result the company increasing output one mln bit dram said company officials unveiled the following plans nec corp nesi japan largest chipmaker plans slash production dram semiconductors pct six mln per month from monthly average mln last quarter the year beginning april nec will boost chip imports which comprised some pct all nec chip consumption the year before hitachi ltd hit april output dram will fall pct four mln compared mln march the company trying boost imports but has not set specific target imports are currently very low toshiba corp tsba will reduce april dram production pct just over four mln and considering ways boost imports company official said toshiba has agreement with motorola inc mot sell the firm chips japan the firms are planning joint venture production memory chips sendai northern japan mitsubishi electric corp miet will trim second quarter output about pct between mln mln chips compared the first quarter plans call for increased imports but official said boosting imports will difficult depends sales demand fujitsu ltd itsu will cut production accord with miti guidelines and boost imports from currently low levels oki electric industry ltd okie will reduce april production pct from march mln oki studying ways increase imports pct the fiscal year beginning april from the previous year total more than five billion yen company official said reuter 
earn	london and scottish marine oil plc lasl year div shr pretax profit mln stg mln net mln mln total turnover mln amortisation mln traded oil purchases mln mln administration expenses mln mln net interest payable mln mln related company credit mln nil reuter 
money-fx	money market given further mln stg help the bank england said provided the market with further mln stg assistance during the morning after revising its estimate the liquidity shortage billion stg before taking account its early round bill purchases initially the bank put the likely shortage some billion and help offset this gave early assistance billion its total help far today amounts billion stg more 
trade	correction march yugoslav trade falls belgrade item yesterday yugoslav trade falls qtr year ago please read page one this year current exchange rates were used for the first time instead fixed rate dinars the dollar corrects from reuter 
earn	lasmo set benefit from future oil price rises london and scottish marine oil plc lasmo lasl will have advantage when oil prices rise again and confident this will happen early the next decade the company said statement accompanying results lasmo said its advantage comes from its reserves oil and gas which the end stood mln barrels oil equivalent group record reserves have increased every year since compounded rate pct year the company reported pretax profit mln stg down from mln said falling oil prices caused the downturn the company said reacted swiftly the sharp drop oil prices which began over year ago capital expenditure which had been budgeted over mln stg was cut mln stg net disposals managers responded well the demand for lower operating costs and this has been achieved worldwide the company said had very few exploration wells committed for and therefore retains maximum flexibility its exploration program even without further success the existing fields and recent discoveries will contribute significantly profit and cash flow for some years come said lasmo shares were down after the announcement reuter 
money-fx	call money pressure from large german banks one two large west german banks effectively drained the domestic money market liquidity the end the month order achieve higher rates from their overnight deposits money dealers said result call money soared active trading around the lombard rate five pct from pct yesterday banks found themselves short minimum reserve funds bundesbank figures showed that banks held average daily billion marks interest free minimum reserve assets the central bank over the first days the month though this was above the march requirement billion actual holdings the weekend were billion meet the daily average dealers said banks must raise holdings two billion marks billion today and tomorrow but liquidity was tight early business because banks excessively took the bundesbank offer for sale treasury bills friday this provides rate pct for three day deposits and effective floor the market though some liquidity from bills bought thursday flowed back into the market today the bulk would not return until tomorrow the start the new month dealers said dealers said the large banks which they did not name commanded short term money requirements much five billion marks with knowledge their own needs until the end the month the banks bought excessive amounts treasury bills draining liquidity for three days when other banks sought funds rates rose and large banks were able place excess funds deposit considerably higher average return one senior dealer said the bundesbank with advanced knowledge the market needs should have curtailed its sales treasury bills friday though dealers only late the day learn the total minimum reserve holdings the previous day the bundesbank has immediate overview the situation and could anticipate the strength demand for funds the following day said bundesbank dealers could easily have said are not selling any treasury bills not selling them this amount said the bundesbank wants finely steer the market then they should avoid such excesses tomorrow will different call money will fall back pct but the bundesbank would not approve the sharp jump rates given the delicate state currency markets international central banks have been pains prevent dollar fall against major currencies including the mark dealers said rise call money gives the mark firmer undertone contributing downward pressure the dollar the whole tender policy have call money between three and four pct that case the excesses have today cannot very popular the senior dealer said dealers said the large banks probably achieved average rates return their excess funds between pct four pct this higher return than they would have earned without the excessive draining through the treasury bill mechanism because the currency situation and the wage negotiations between germany major employers and the unions the bundesbank would very unlikely make any changes monetary policy its council meeting thursday they said bundesbank figures showed that banks fell back the lombard emergency funding facility draw down billion marks yesterday rates began tighten late business reuter 
acq	csr selling delhi exxon unit drops delhi float csr ltd csra and exxon corp xon unit esso exploration and production australia inc said csr has agreed sell its delhi australia fund daf esso for mln australian dlrs the sale effective from tomorrow they said joint statement the previously announced float part its delhi interest will not now proceed csr said the statement delhi australia fund owns delhi petroleum pty ltd which holds average pct the santos ltd stos led cooper and eromanga basin gas and liquids projects addition the purchase price csr will share equally any returns due increases crude oil and condensate prices over certain levels for liquids produced from delhi interests the next two years the statement said the esso proposal purchase all the delhi interest will more beneficial our shareholders than proceeding with the float csr chief executive bryan kelman said the statement kelman said the sale delhi would enable csr focus efforts expanding business areas such sugar and building materials which csr has had long and successful management experience and strong market leadership with the sale csr will able expand those businesses more aggressively and earlier said reported separately soon after announcing the delhi sale csr launched takeover bid for the pct pioneer sugar mills ltd that does not already hold valuing its entire issued capital mln dlrs reuter 
acq	csr bids dlrs share for pioneer sugar mills csr ltd csra said will offer dlrs cash each for the shares does not already hold pioneer sugar mills ltd csr already holds pct pioneer mln issued shares said statement the offer price values the entire pioneer sugar share capital mln dlrs and compares with today closing market level dlrs share csr said will announce further details the offer soon including alternative offer csr shares for pioneer sugar stock said the offer generous since will give pioneer sugar shareholders price equivalent times pioneer net earnings last financial year and premium pct over yesterday market price which csr said believed already contained element takeover speculation also gives premium pct over pioneer last reported net tangible assets per share csr said csr said the generous offer price reflects the cost savings which will flow from integrated management csr and pioneer raw sugar mills and building materials businesses these economies can only achieved through csr control and management pioneer sugar added the takeover announcement came soon after csr earlier reported statement that will sell its delhi petroleum pty ltd unit exxon corp xon unit for mln dlrs and not proceed with the previously announced float part delhi reuter 
acq	fletcher challenge disappointed forest moves fletcher challenge ltd fcl managing director hugh fletcher said was disappointed that rada corp ltd had decided sell its shares forest products ltd nzfp australia amcor ltd said statement that fcl had made offer for the pct nzfp held rada said the fcl offer was better than amcor because would have been made all nzfp shareholders but gave further details amcor and nzfp said earlier today they were merging their pulp and paper interests joint partnership and were increasing their existing cross shareholdings the plan involves nzfp increasing its current holding amcor about pct from four pct amcor will acquire rada nzfp stake add its existing pct and will seek statutory approval increase its holding pct rada bought its stake for mln dlrs from wattie industries ltd last year but has not disclosed the price paid amcor fcl originally launched takeover bid for nzfp late last year with scrip and cash offer dlrs share valuing the company billion dlrs nzfp shares ended dlrs today reuter 
earn	sumitomo chemical ltd such year dec group shr yen net billion billion current billion billion operating billion billion sales billion billion note company forecast for current year group net billion current billion and sales billion based rationalisation efforts and expected market price increases agricultural chemicals and petrochemical products following the recovery world oil prices reuter 
acq	china citic buys hotel from cheung kong the peking owned china international trust and investment corp citic bought the unfinished city garden hotel hong kong from subsidiary cheung kong holdings ltd ckgh hkg for mln dlrs cheung kong director albert chow said cheung kong subsidiary international city holdings ltd will complete work the hotel the end when will handed over citic the deal does not include the decoration fitting out the interior the hotel the room hotel stands site the eastern side hong kong island reuter 
earn	mannesmann sees difficult year for capital goods mannesmann mmwg expects difficult year for the capital goods industry chief executive werner dieter told news conference dieter said west german producers would see downturn foreign business because lower energy prices and the higher mark well deterioration the economies customer nations domestic business was also declining and orders for west german engineering goods have been falling since july dieter said mannesmann profit fell undisclosed amount dieter said mannesmann pipe activities would suffer set back although measures cut costs which were started last year were now having effect dieter noted however that pipes and related products accounted for less than pct mannesmann turnover the company saw good chances the automation sector which dieter said had become one mannesmann strategic aims said the company drive combine activities mechanical and electronic engineering was particular plus point for mannesmann mannesmann which yesterday announced had agreed take majority stake the fichtel und sachs car parts group for undisclosed sum saw third party group turnover fall nine pct billion marks its world group net profit was mln marks has blamed the fall profits the weaker dollar and lack demand for steel pipe dieter said there were signs that prices for steel pipe were bottoming out and would slowly start rise but added the company would continue cut personnel this sector this year reuter 
earn	british caledonian group announces big losses british caledonian group britain second largest airline has announced mln stg pretax loss for the financial year ending last october compared with record pre tax profit mln stg chairman sir adam thomson told reporters decline transatlantic traffic following terrorist attacks europe the bombing the libya the chernobyl disaster and slump the oil industry which affected middle east traffic were the main causes the loss thomson said said the poor results were caused range exceptional circumstances wholly outside our direct control and predicted return profitability this year last year the airline was forced axe jobs sell some its assets and cut the number its flights across the atlantic and the middle east following the fall business reuter 
ship	hapag orders new container ship from china hapag lloyd said ordered new container vessel from china for its australia service the order was given the hudong shipyards shanghai after lengthy negotiations with west german shipbuilders the company said statement the chinese firm offered build the vessel over mln marks less than west german yards despite government subsidies which bonn pays its ailing shipbuilding industry hapag said company spokesman would not comment the total order value but said the new vessel would replace the dwt sydney express and would carry container units reuter 
acq	french cge unit takes pct stake esca corp state owned cie generale electricite electrical contracting unit cgee alsthom has taken stake the computer firm esca corp cgee alsthom chairman philippe boisseau told press conference according agreement principle between the two companies cgee alsthom could take majority stake the future but time scale has been set added esca which had turnover mln dlrs and expected see this rise mln this year one the leading suppliers electric despatching and telecontrol systems reuter 
acq	partners call gencorp response unproductive general acquisition said was disappointed gencorp response its tender offer and asked how the company might give better value shareholders gencorp had earlier urged shareholders reject dlr per share tender offer from general acquisition affiliate wagner and brown and afg industries inc and said was studying financially superior alternatives the general acquisition partnership called the response inflammatory and unproductive particularly since had tried discuss the offer with gencorp the partnership said gencorp failed say how would provide superior value yet they continue their attempt prevent satisfactory offer failing redeem their poison pill poison pills are shareholder rights plans that make takeovers more expensive gencorp said its statement earlier that planned put off the date its rights will trade separately from the common stock april from april said the extension was subject further extensions the board and conditional person acquiring beneficial ownership pct more gencorp before april general acquisition said confident its offer can completed timely manner using its financial arrangements the partnership its statement again urged gencorp management work with facilitate transaction reuter 
acq	sedgwick buys bsi incorp sedgwick group plc sdwk said its wholly owned canadian subsidiary sedgwick tomenson inc had acquired bsi incorp for maximum eight mln canadian dlrs the funds will raised through the issue mln ordinary sedgwick shares the vendors bsi later than january some shares already have been issued bsi privately held canadian company involved actuarial employee and executive benefits consulting and administration its pretax profits excluding extraordinary items totalled mln canadian dlrs reuter 
money-fx	money market shortage forecast revised the bank england said had revised its estimate the deficit the money market today record two billion stg before taking account its morning operations from billion midday the bank has provided the system with around billion stg assistance far today reuter 
acq	rexnord rex sells unit neoax noax rexnord inc pct owned banner industries inc bnr following recent tender offer said has completed the sale its fairfield manufacturing subsidiary neoax inc for mln dlrs cash rexnord said still plans sell its process machinery division and mathews conveyor part its planned program divest five businesses with mln dlrs assets bellofram corp and railway maintenance equipment have already been sold reuter 
trade	japan will ask companies boost imports japan minister international trade and industry hajime tamura will meet representatives from the nation largest companies next week and appeal them their best increase imports ministry officials said the meeting was unveiled part plan boost imports and help head off protectionist legislation the senior officials from the ministry international trade and industry told reporters that such personal appeals appeared have paid off the past japanese imports manufactured goods have climbed leading domestic semiconductor makers will boost imports and cut production key memory microchips next month attempt help ward off trade sanctions company spokesmen said the officials also said they expect the government new trade insurance law boost imports and encourage japanese companies set production facilities overseas under the new law the government will insure japanese companies who pre pay for imports against loss arising from everything from war bankruptcy the foreign firm they are dealing with miti estimated that would help solve japan trade problem the tune about billion dlrs year reuter 
acq	hudson foods hfi make acquisition hudson foods inc said has agreed principle acquire thies cos inc poultry beef and pork products provider midwest supermarkets and food distributors with sales about mln dlrs for the year ended november one the company said definitive agreement expected signed april terms were not disclosed reuter 
earn	esso malaysia reports higher profit esso malaysia bhd unit exxon corp the reported net profit mln ringgit from its petroleum and ammonia operations compared with mln chairman gerald cox said the improved performance was mainly due product prices falling more slowly than crude prices during the year added that total sales volume increased result higher offtake affiliated companies while inland market sales were maintained around the previous year levels but growth prospects remained weak and results are unlikely repeated the current financial year reuter 
ship	thailand buys yugoslav cranes barter deal the cabinet approved plan for the port authority thailand buy six gantry cranes from metalna yugoslavia for about mln dlrs government spokesman said said thailand will pay for pct the cost the cranes dlrs and the rest sales rice textiles and other commodities yugoslavia the bangkok shipowners and agents association has appealed the government scrap the purchase plan said would unnecessary expense most vessels calling the port already have their own cargo handling equipment reuter 
earn	jewelmasters jem sees net below estimates jewelmasters inc said expects report net income for the year ended january pct below analysts estimates dlrs cts per share jewelmasters sales sales for the year just ended were about mln dlrs the prior year earned dlrs sales mln dlrs jewelmasters said net income for the year was hurt disappointing sales december and january high level advertising spending the fourth quarter higher than expected opening expenses for additional units and adjustment inventory associated with shift more comprehensive inventory system jewelmasters said expects report audited results for the fourth quarter and year about three weeks reuter 
acq	alpha industries aha sells division alpha industries inc said has sold its microelectronics division triax corp for undisclosed terms retroactive february one said the division has yearly revenues about mln dlrs and makes microwave components for the defense electronics industry alpha said plans concentrate the high frequency portion the electromagnetic spectrum reuter 
earn	penney declares two for one split raises quarterly 
acq	interlink says not planning bid for purolator british package courier interlink express plc does not plan bid for the whole part purolator courier corp pcc spokesman said there intention making any sort approach purolator the spokesman told reuters adding would case david versus goliath interlink shares started trading the unlisted securities market october posted pre tax profits mln stg turnover mln stg the six months december purolator last year topped turnover mln dollars the spokesman said between purolator and interlink view takeover participation categorically denied press reports suggesting interlink was developing buyout bid the reports said the proposed bid would price above the dlrs per share offered hutton lbo inc the hutton offer expires tomorrow the spokesman said interlink was seeking expand business first continental europe and later the but the company did not expect gain foothold the market until the earliest said reuter 
earn	penney jcp sets stock split raises quarterly penney inc said its board declared two for one stock split and raised the quarterly dividend cts per share presplit basis cts both are payable may one holders record april reuter 
earn	hillenbrand industries inc qtr feb shr cts cts net mln mln revs mln mln reuter 
money-fx	money market given mln stg late help the bank england said had provided the money market with late assistance around mln stg this takes the bank total help today some billion stg and compares with its forecast two billion stg shortage the system today reuter 
acq	cable says consortium proposals not acceptable cable and wireless plc cawl said proposals resolve dispute over entry japan telecommunications market were not acceptable company spokesman said the proposals appear have been made today edition the japanese daily asahi fumio watanabe head telecommunications committee with the federation economic organisations however the suggestion still recommended merger between the two consortia tendering for contracts and would give cable five pct stake more than the three pct originally proposed but less than the pct holds its original venture said the proposal would also offer cable nominee seat the board the merged company the spokesman said believed japan should accept applications from the two rivals for fair review earlier today cable shares firmed market speculation that the dispute which being treated britain government test case how open the japanese telecommunications market was near settlement cable shares gmt were quoted compared with close last night reuter 
trade	japan trade war not interest lawson chancellor the exchequer nigel lawson said the united states and japan must work avert possible trade war and added that trade war would not the interests britain lawson told journalists that the prospects for the economy look very very good providing can avoid trade war stressed that heavy responsiblity different ways lies japan and the united states ensure that avoid such trade war asked whether believed such trade war could averted lawson replied very much hope britain last week warned that would retaliate japan did not move soon open its markets outside competition prime minister margaret thatcher gave notice that the would fight the japanese government attempt prevent cable and wireless plc cawl from taking significant position new japanese international telecommunications venture but british officials are now trying dampen anti japanese rhetoric try keep developments under control the british conservative government will thursday consider what legal options are available try increase access japanese markets officials said reuter 
acq	gaf corp offers dlrs share cash for borg warner 
acq	ferruzzi may float pct paris unit gruppo ferruzzi studying project which could result public share offer pct its french unit european sugar france and could raise around mln dlrs ferruzzi chairman raul gardini said gardini told reuters the operation under consideration was aimed international markets and that the figure mln dlrs given some press reports was probably about right european sugar wholly owned ferruzzi unit eridania zuccherifici nazionali spa erdi expected absorb the european corn wet milling business cpc international inc cpc which ferruzzi recently agreed buy ferruzzi announced last week had agreed principle buy the cpc operation for mln dlrs ferruzzi spokesman later confirmed that the group was studying the transfer the cpc business european sugar along with possible share offering the paris unit but gave details the flotation plan has been interpreted financial analysts means helping finance the acquisition the cpc business london yesterday chairman belgian starch producer amylum pierre callebaut told reuters that since ferruzzi was apparently still organising finance his company might still succeed with its rival bid for the cpc business gardini commenting callebaut remarks said the mln dlrs agreed for the cpc acquisition would paid the date foreseen the preliminary contract gardini could not reveal the date question nor give any indication the likely timing offering shares european sugar but was announced last week that ferruzzi purchase the cpc business was expected completed september callebaut said yesterday that amylum was surprised and disappointed that its mln dlr bid cash offer for cpc european business was apparently rejected favour ferruzzi lower bid gardini commenting callebaut remarks said amylum should know that one succeeds bid making the right offer the right moment exactly ferruzzi did the case the acquisition cpc european business gardini said was not callebaut business concern himself with the european sugar capital raising operation under study added asked about press reports that ferruzzi might follow the european sugar flotation with the sale pct the cpc business gardini said not exclude having minority partners the cpc business declined elaborate reuter 
acq	corrected gaf corp offers dlrs share cash for borg warner correcting amount 
money-fx	treasury baker sees rate stability treasury secretary james baker said the agreement among the industrial countries reached paris last month should foster stability exchange rates around current levels testimony before the house appropriations committee baker outlined many the measures taken designed achieve more balanced growth and reduction trade imbalances during the paris meeting these measures should also foster greater stability exchange rates around current levels said baker reiterated that the ministers the paris meeting agreed that their currencies were within ranges broadly consistent with underlying economic fundamentals and that further substantial exchange rate shifts could damage growth and adjustment prospects added these circumstances agreed cooperate closely foster stability exchange rates around current levels reuter 
acq	gaf gaf seeks all borg warner bor gaf corp said has made all cash merger proposal borg warner corp dlrs per share for all the company common stock following meeting yesterday with borg warner officials and investment bankers gaf said today delivering letter the borg warner board outling the terms the proposal that would made tender offer pursuant mutually acceptable merger agreement approved the borg warner board and conditioned that board recommendation the tender offer and merger gaf its letter stated intends finance the proposed acquisition entirely with its own funds and bank borrowings under syndicated bank loan from group banks led chase manhattan corp cmb chase manhattan bank last week gaf increased its ownership borg warner shares pct those outstanding minstar inc mnst sold its pct holding gaf emphasized the amicable nature the proposed transaction which characterized partnership gaf said wanted discuss with the borg warner board key roles for borg warner senior management the new organization board representation for borg warner directors newly constituted board and company name change gaf said will filing amendment its with the securities and exchange commission borg warner has about mln common shares outstanding minstar chairman irwin jacobs sold his stake after borg warner after the company failed respond his mid february offer for negotiated agreement minimum price dlrs share november jacobs had offered enter into acquisition talks with borg warner based price between and dlrs share reuter 
earn	trans canada glass ltd qtr loss shr loss cts loss eight cts net loss loss sales mln mln year shr profit cts profit cts net profit mln profit mln sales mln mln reuter 
earn	geothermal resources international inc geo year oper shr dlrs dlrs oper shr diluted dlrs dlrs oper net revs mln avg shrs avg shrs diluted note net excludes gains from discontinued operations dlrs dlrs year net excludes gain dlrs from sale discontinued operations net includes tax credits dlrs mln dlrs reuter 
earn	first city industries inc fcy qtr net opoer shr profit cts loss cts oper net profit loss sales mln mln year oper shr loss dlrs loss dlrs oper net loss mln loss mln sales mln mln note net excludes gains from discontinued operations mln dlrs dlrs quarter and dlrs dlrs year reuter 
earn	magellan petroleum corp mpet qtr jan shr loss nil profit nil net loss profit revs avg shrs mln mln nine mths shr profit nil loss one net profit loss revs avg shrs mln mln note net includes tax credits dlrs dlrs quartrer and dlrs dlrs nine mths reuter 
earn	terra mines ltd tmexf year loss shr loss cts loss cts net loss mln loss revs note includes writedown mln dlrs for the costs mineral properties and deferred exploration and development bullmoose lake the northwest territories reuter 
earn	merrill corp mrll qtr jan net shr cts cts net revs mln mln year shr cts cts net revs mln mln avg shrs reuter 
earn	optics corp doco qtr loss shr loss cts profit cts net loss profit revs year shr profit cts profit cts net profit profit revs mln mln avg shrs reuter 
interest	treasury baker sees expansion continuing treasury secretary james baker said that the current expansion which noted was its fifth year will continue the period ahead told the house appropriations committee that there every prospect that the current expansion will continue unabated through and the years beyond baker said interest rates over the period have continued decline and that policies the federal reserve assure that ample credit was available said that the administration longer term forecast envisioned that will maintain and improve upon our progress bringing down the rate inflation reuter 
trade	approves mediterranean financial packages ministers have approved financial packages for several mediterranean states totalling billion european currency units official said the packages part special trade agreements with tunisia egypt lebanon israel algeria morocco and jordan until include mln ecus grants said they include one billion ecus loans from the european investment bank the long term financing arm the framework for the transfers was signed yesterday farm ministers after being agreed principle foreign ministers earlier reuter 
earn	southern hospitality corp shos qtr feb shr loss cts loss cts net loss loss sales mln nine mths shr loss cts profit cts net loss profit sales mln mln reuter 
earn	elder beerman stores corp eldr qtr feb one oper shr cts dlrs oper net sales mln mln year oper shr dlrs dlrs oper net sales mln mln note share adjusted for five pct stock dividend prior year net both periods excludes gain dlrs from reversion overfunded pension plans year net includes pretax lifo inventory charge dlrs credit dlrs tax rate pct pct due impact tax reform act bad debt writeoffs for year one mln dlrs pretax from the year before reuter 
money-fx	treasury baker says cooperation working treasury secretary james baker said that the agreement paris cooperate exchange rate changes showed that the process coordination agreed the tokyo summit was working told the house appropriations committee the meeting demonstrated that the process working noted that the industrial surplus countries committed themselves strengthen their growth prospects while the deficit countries agreed reduce their domestic imbalances baker said that for its part japan announced cut its discount rate pct and committed itself prepare comprehensive economic program stimulate domestic demand after the diet completes action the current budget said the united states must also its share pressing for reductions the federal budget deficit through spending cuts and must continue oppose protectionist pressures added reuter 
acq	akzo planning investments dutch chemicals group akzo akzo said hoped consolidate its core activities this year making small acquisitions the akzo chairman aarnoud loudon told news conference its report that the company wanted achieve the same level investments had before divested its fibre firm american enka december when investments represented pct akzo total capital the expansion plans were not attempt compensate for losses guilder income through the lower dollar loudon said said more important factor was the speed growth the adding the largest industrial market the world but said the company would also looking possible acquisitions europe despite its highly liquid cash flow akzo did not plan acquisitions scale that would negatively influence the company debt equity ratio loudon said the chairman said the past two years akzo had spent billion guilders acquisitions which nearly two thirds were the united states reuter 
earn	heck inc hex qtr jan three net shr losses not given net loss loss sales mln mln year shr losses not given net loss mln loss sales mln mln note company operating chapter bankruptcy year net includes four mln dlr lifo charge and dlr credit from pension plan termination reuter 
earn	capital bancorp capb sees gain unit sale capitol bancorp said has sold its pct interest cap mortgage inc for mln dlrs adding this expected result after tax gain about dlrs reported the first quarter capitol bancorp said the cap mortgage interest was sold michael bronstein president cap mortgage and robert fox president fox properties inc bronstein already held the other pct cap mortgage stock reuter 
earn	data systems gggg qtr net qtr ends jan shr nil nil net revs avg shrs nine mths shr two cts three cts net revs avg shrs reuter 
earn	niki industries inc year net oper shr profit cts loss cts oper net profit loss revs mln mln avg shrs note net excludes dlr tax credit reuter 
earn	colorocs corp clrx year loss shr loss cts loss cts net loss loss revs avg shrs reuter 
acq	ferruzzi may float pct paris unit gruppo ferruzzi studying project which could result public share offer pct its french unit european sugar france and could raise around mln dlrs ferruzzi chairman raul gardini said gardini told reuters the operation under consideration was aimed international markets and that the figure mln dlrs given some press reports was probably about right european sugar wholly owned ferruzzi unit eridania zuccherifici nazionali spa expected absorb the european corn wet milling business cpc international inc which ferruzzi recently agreed buy ferruzzi announced last week had agreed principle buy the cpc operation for mln dlrs ferruzzi spokesman later confirmed that the group was studying the transfer the cpc business european sugar along with possible share offering the paris unit but gave details the flotation plan has been interpreted financial analysts means helping finance the acquisition the cpc business reuter 
acq	gandalf gandf acquires stake data voice gandalf technologies inc said acquired significant minority equity interest privately held data voice solutions corp newport beach calif for undisclosed terms gandalf did not specify the size the interest data voice three year old designer and manufacturer multiprocessor multiuser dos computing system that gandalf plans integrate with its private automatic computer exchange information system gandalf said reuter 
acq	keycorp key agrees acquire utah bank keycorp said has signed definitive agreement acquire commercial security bancorp csec exchanging keycorp common valued dlrs for each commercial securities share keycorp said this gives the transaction indicated value mln dlrs keycorp said the amount its stock exchanged will based the daily average closing price the shares for unspecified period prior the closing the acquisition based maximum about keycorp shares and minimum about keycorp exchanged the agreement provides that the average price keycorp common less than dlrs share during the pricing period the agreement will terminate unless new conversion ratio can negotiated keycorp said the transaction designed tax free commercial security shareholders the company said will treat the merger pooling interests said the proposal subject approval commercial security shareholders and various regulators keycorp said the merger expected become effective soon possible after december the date utah interstate banking law becomes operational keycorp said richard hemingway and certain members the hemingway family who own about pct commercial security outstanding shares have agreed vote favor the transaction and not dispose their stock based salt lake city commercial security ended with assets mln dlrs net loans mln dlrs and deposits mln dlrs had net income mln dlrs dlrs share mln average shares outstanding last year reuter 
trade	soviet union seen watching china gatt application china application join the general agreement tariffs and trade gatt seen test case the soviet union which will probably demand follow china top european community official said willy clercq external relations commissioner the european communities told news conference that china application would involve long and difficult negotiations china formally applied join gatt july and february presented memorandum backing its application which clercq said was now being studied questions would then presented china after china other important state trading countries including the soviet union will probably demand accession china application could considered test case said said the strongly backed china application but others among gatt contracting parties took tougher line among the numerous problems huge centrally run economy entering free trade system are tariffs and reciprocity and the expectation that china will practice open trade policy without trade discrimination clercq added clercq noted the different dimensions the chinese economy and those hungary and yugoslavia the two current socialist gatt members china import potential said foreign exchange shortage would force china import less this year and next than the past with emphasis technological equipment and capital during his visit clercq has met top chinese leaders and today signed agreement open european community commission office peking reuter 
earn	rocky mount undergarment rmuc qtr loss shr loss cts loss cts net loss loss revs mln mths shr loss cts profit cts net loss profit revs mln mln note full name company rocky mount undergarment inc reuter 
trade	senate leaders see trade war brewing the senate democratic and republican leaders praised president reagan for retaliating against japan for violating semiconducter accord but dashed cold water ideas was the first shot trade war senate democratic leader robert byrd and republican leader bob dole both told the senate reagan decision was long overdue and urged japan open its markets goods and stop dumping world markets each noted separate speeches that they saw trade war over the issue despite concerns financial markets that fear has basis fact byrd said reuter 
earn	dyr liquidating dyr sets liquidating payout dyr liquidating corp formerly dyneer corp said its board declared third liquidating dividend one dlr per share payable shareholders record april and said will file certificate dissolution that date the company said shareholders record that date will acquire beneficial interests the liquidating trust that will formed hold all the company assets said has asked the american stock exchange suspend trading its common stock the close april ensure settlement all traded april dyr said expects its stock withdrawn from registration under the securities exchange act shortly after april dyr said the pay date for the dividend will april reuter 
earn	network security corp ntwk year net shr dlrs cts shr diluted dlrs cts net mln revs mln mln note net includes pretax charge dlrs from increases and reserves and writeoffs low yielding assets and pretax gain mln dlrs from sale multi family subsidiary another dlrs gain from the multi family sale will recognized multi family meets targeted operating results reuter 
acq	peat marwick kmg main hurdman complete merger peat marwick and kmg main hurdman said their merger will completed tomorrow the new firm known kpmg peat marwick will rank among the largest public account and consulting firms the based combined revenues billion dlrs partners and total staff offices kpmg was created part the merger announced last september peat marwick international klynveld main goerdeler form klynveld peat marwick goerdeler reuter 
acq	borg warner bor examining gaf gaf proposal borg warner corp statement said has received gaf corp dlrs share acquisition proposal and will have comment until its board directors has had chance examine thoroughly reuter 
earn	cri insured cii estimates dividends cri insured mortgage investments inc said expects distribute about dlrs per share from operations for all and about dlrs including the proceeds the gain from the sale the brighton meadows mortgage through january the company today paid dividend dlrs per share its first two quarterly payments september and december were cts each cri said has not yet declared distribution the park meadows loan disposition reuter 
acq	audio video ava get expenses from dixons audio video affiliates inc said will receive undisclosed amount from dixons group plc connection with the termination cyacq corp dlr per share tender offer for cyclops corp cyl the company said the amount from dixons lieu reimbursement expenses for the cyacq tender citicorp cci was the other partner cyacq the payment was connection with dixons previously announced agreement increase its tender price for cyclops dlrs per share cycacq ending its competing bid and the ending litigation between the parties reuter 
acq	republic rsla merge with pioneer savings republic savings and loan association and pioneer savings racine wis said they have signed definitive agreement combine the two associations into publicly held holding company called republic capital group inc the associations said they would form the company exchanging republic stock for shares the holding company which pioneer savers could purchase when pioneer converts from mutual stock ownership the associations added that they would remain independent but wholly owned units the holding company the associations said they would continue business using their present names and management the combination republic mln dlrs assets with pioneer mln dlrs would make the new holding company the fifth largest savings and loan organization wisconsin they said the associations said the move subject approval the federal home loan bank board and the wisconsin commissioner savings and loan well republic shareholders and pioneer depositors reuter 
earn	new harding group inc qtr jan net shr cts net revs mln note prior results not given due november acquisition pct stake continuous colour coat ltd reuter 
acq	brougher bigi sell pct subsidiary brougher insurance group inc said plans sell pct the stock its subsidiary intercontinental corp for one mln dlrs three european insurance companies the parent company said signed letter intent sell the stock wasa europeiska forsakrings sweden europeiske reiseforsikring norway and europeiska rejseforsikrings denmark brougher said expects realize net after tax gain approximately dlrs cts per share from issuing stock intercontinental reuter 
earn	sun city industries sni sees higher net sun city industries inc said preliminary unaudited results ongoing operations for the fiscal year ended january are expected rise over pct dlrs cts per share from the dlrs cts reported last year total net income expected reach mln dlrs which includes mln dlrs net income realized from sale property the combination will result record earnings dlrs share the wholesale distributor and processor eggs said reuter 
trade	yeutter says stock market overreacted japan trade dispute 
ship	lawrence seaway opens shipping season the lawrence seaway said the first ship the season passed through the lambert lock here this morning officially opening the mile long waterway shipping season the seaway has said expects little increase freight levels this year from last year when moved mln tonnes freight between montreal and lake ontario and mln tonnes the welland canal which links lake erie and lake ontario the canal scheduled open tomorrow officials expect the waterway lose nine ten mln canadian dlrs this year about the same the estimated deficit for fiscal which ends today reuter 
acq	acton atn sell unit for gain acton corp said has agreed sell its five michigan cable television systems wisconsin cablevision inc for about dlrs resulting gain about six mln dlrs the company said the sale subject review local authorities the systems have about subscribers acton said proceeds will used retire bank debt the company said has also entered into mln dlr bank credit agreement that will allow complete the prepayment all its obligations members its present bank syndicate the company said the new credit will also allow prepay some other debt and redeem its class series two preferred stock said the new facility has allowed take full advantage early payment discount about mln dlrs principal and interest which was negotiated with its banking syndicate connection with april financial restructuring reuter 
trade	stock market overreacts tariffs yeutter trade representative clayton yeutter said the stock market overreacted decision last week proceed with tariffs some japanese computer products speaking reporters prior testifying house agriculture committee hearing yeutter said difficult comprehend that trade decision affecting only mln dlrs goods caused the stock market collapse yesterday have hunch lot other things were involved that stock market fall including simple profit taking yeutter said yeutter said japan would sending senior official from its trade ministry washington next week for talks the computer chip dispute will glad have him here but that not going affect decision that already been made yeutter said the decision announced last week would apply higher tariffs range japanese products retaliation for the alleged failure tokyo honor agreement with the semiconductor trade reuter 
acq	usx consolidated natural cng end talks usx corp texas oil and gas corp subsidiary and consolidated natural gas have mutually agreed not pursue further their talks consolidated possible purchase apollo gas from texas oil details were given reuter 
earn	arvin industries sees flat qtr per share net compared with cts last year 
earn	rocky mount rmuc expects profit first qtr hal weiss chairman president and chief executive officer rocky mount undergarment inc said expects the company show profit for the first quarter fiscal weiss said sales for have been strong following net loss dlrs cts share for the fourth quarter fiscal the company reported net loss for the year dlrs cts share rocky mount recorded net income dlrs eight cts per share for the first quarter fiscal weiss attributed the poor year problems involving management manufacturing operations financial condition and credibility among its suppliers weiss predicted the pattern quarterly lossses which characterized will reversed and will see the company return profitability reuter 
acq	chubb corp completes acquisition the chubb corp said completed the previously announced merger its subsidiary with and into sovereign corp sovr life insurance holding company under the terms the merger sovereign stockholders wil receive tax free exchange share chubb common stock for each share sovereign held the company said this equals dlrs per share sovereign stock based the closing price chubb common stock march reuter 
trade	envoy advises nakasone prepare for visit the japanese ambassador the suggested that prime minister yasuhiro nakasone make efforts present advanced proposals trade issues when visits washington next month ambassador nobuo matsunaga made the recommendation meeting with nakasone kyodo news service said matsunaga also advised that the prime minister should prepared discuss japan economic issues matsunaga cited issues such japan micro chip trade pact foreign access the kansai international airport project and new international telecommunications firm matsunaga returned sunday report japanese leaders recent developments over trade preparation for nakasone visit washington april may kyodo quoted nakasone telling reporters after meeting the envoy entirely accept what ambassador matsunaga recommended nakasone did not elaborate the japan trade dispute intensified last week when president ronald reagan said the would impose heavy tariffs japanese imports retaliation against alleged japanese breach the computer chip trade pact meanwhile nakasone ruling liberal democratic party ldp consider measures boost imports and open the japanese market such government purchase supercomputers and expanding foreign access the kansai airport project party sources said the ldp international economic affairs council was responding nakasone request for measures reduce japan increasing trade surpluses with the and europe they said reuter 
earn	new harding group sets first payout since new harding group inc formerly harding carpets ltd said declared its first dividend since fiscal cts per subordinate voting share and multiple voting share pay april record april the company said the dividend establishes new policy for the payment quarterly dividends new harding earlier reported profit dlrs cts share for first quarter ended january said prior results were not comparable due the company november acquisition pct stake continuous colour coat ltd reuter 
acq	laroche drops condition neco npt offer investor david laroche said has decided drop the condition his tender offer for shares neco enterprises inc dlrs each that least shares tendered said has extended the expiration the offer until april thorugh march said neco shares had been tendered laroche said may obtain short term loan one mln dlrs from amoskeag bank help finance the purchase shares under the offer bearing interest nine pct reuter 
crude	chevron chv nippon oil form joint venture chevron corp said its chevron inc unit and tokyo based nippon oil ltd agreed conduct joint venture oil exploration and development program selected chevron leaseholds the united states about onshore and offshore exploratory wells will drilled under the agreement and chevron will the operator the project and pay some costs the company said said nippon will contribute initial investment more than mln dlrs the japanese government will also participate the venture providing financing nippon through the japanese oil corp chevron said said drilling will begin during the second quarter properties evaluated are located california colorado kansas oklahoma mississippi montana north dakota texas utah and wyoming along with federal outer continental shelf leases offshore southern california and the gulf mexico chevron said reuter 
acq	telecast tcst completes acquisition financing telecast inc said closed the financing portion its previously announced acquisition approximately hotel rooms from dynavision inc the three mln dlr financing package was provided sanwa business credit corp subsidiary sanwa bank ltd japan the company said reuter 
earn	charter power systems inc chp qtr jan shr profit cts loss cts net profit loss sales mln mln year shr profit cts loss cts net profit loss sales mln mln note prior year results pro forma for acquisition and power systems divisions allied signal inc ald reuter 
earn	renault rena ended dec consolidated net loss billion francs loss billion consolidated net turnover billion francs billion consolidated debt billion francs billion net loss car making billion francs loss billion net loss industrial vehicles mln loss billion note the company said the consolidated net loss was after costs and provisions for restructuring billion francs which includes exceptional items arising from the planned sale its stake american motors corp amo chrysler corp full company name regie nationale des usines renault reuter 
earn	pizza inn inc pza qtr loss shr loss cts loss cts net loss loss revs mln mln avg shrs year shr profit three cts loss cts net profit loss revs mln mln avg shrs note net includes tax credits dlrs dlrs quarter and tax provision dlrs credit dlrs year year revenues include mln dlrs from gain sale quality sausage inc net includes costs dlrs quarter and dlrs year from proposed merger reuter 
money-fx	treasury baker says remains prepared foster exchange rate stability 
earn	arvin arv ses flat qtr results arvin industries inc said higher interest costs from borrowings make acquisitions will produce earnings flat with last year cts share results arvin said might earn cts cts share the quarter these results also reflect the seasonally low sales pattern automotive replacement parts that period arvin forecast about cts share net the second quarter compared with cts last year period the company said revenues for full year will exceed billion dlrs net earnings will increase more than pct while per share earnings should increase pct arvin revenues were mln net reached mln and earnings per share dlrs based these forecasts due the addition schrader automotive inc and maremont corp both acquired last year chairman james baker said quarterly comparisons will not conform historical patterns for the year because the acquisitions schrader and maremond occurred different quarters said arvin will complete the purchase systems research laboratories the second quarter this will also increase revenues reuter 
trade	treasury baker sees billion dlr trade deficit reduction this year 
crude	treasury baker says reagan unlikely alter opposition oil import fee 
interest	fed sets billion dlr customer repurchase fed says 
earn	cortronic corp ctrn year loss shr loss cts loss cts net loss loss sales nil note company development stage reuter 
interest	fed adds reserves via customer repurchases the federal reserve entered the government securities market arrange billion dlrs customer repurchase agreements fed spokesman said dealers said federal funds were trading pct when the fed began its temporary and indirect supply reserves the banking system reuter 
earn	watso inc wsoa sets regular payouts qtrly class div five cts five cts prior qtrly class div four cts four cts prior pay may record april note company changed date for its annual shareholders meeting june from june due scheduling conflict reuter 
earn	eateries inc eats year net shr profit cts loss two cts net profit loss revs avg shrs reuter 
money-fx	treasury baker says backs stability treasury secretary james baker said the united states and the five other industrialized nations signing the recent paris accord remain committed fostering the exchange rate around current levels but declined comment what believed appropriate level the dollar world markets not going comment that because invariably the exchange markets read either more less into remarks than might intend said response question from the house appropriations committee baker said the six nations participating the paris meeting february had acknowledged that the currencies are within ranges that are broadly consistent with the economic fundamentals and and the others well remain prepared cooperate closely foster stability exchange rates around those levels reuter 
acq	may sell sycamore division the may department stores said has signed agreement sell its sycamore specialty store division investment group that includes syacmore senior management may said expects close the deal which includes the entire division and its employees april sycamore has women apparel stores indiana ohio illinois kentucky and michigan may said may added that the indiana national bank indianapolis provided portion the deal financing reuter 
earn	cpl real estate cntrs cuts regular payout qtrly div cts cts prior payable april record april note full name company cpl real estate trust investment reuter 
earn	national bancshares nbct have gain sale national bancshares corp texas said has completed the previously announced sale credit card accounts lomas and nettleton financial corp lnf for mln dlrs resulting gain dlrs reuter 
earn	cpl real estate cntrs sees lower dividends cpl real estate trust investment said its regular quarterly dividend distribution will lower than its present cts per share and could significantly lower starting with the third quarter the company which lowered the payout from cts cts this current quarter said did not know how low the payout would the company said the reason for the cutbacks was because would not purchasing property had anticipated and alternative investments will produce significantly lower yields than anticipated reuter 
acq	hanson trust han sells unit reichhold chemicals inc said part group that has purchased pcr inc from hanson trust plc scm corp subsidiary said other group members include jacksonville fla businessman jack demetree and managers pcr reichhold said made modest cash investment pcr makes high performance materials for variety industries reuter 
earn	american recreation centers inc amrc qtr shr cts cts net revs mln mln nine months shr cts cts net revs mln mln note share earnings reflect for stock split effective july reuter 
crude	treasury baker sees reagan opposing oil tax treasury secretary james baker told the house appropriations committee that believes the president remains opposed oil import fee said reagan last year rejected the idea and added personal view not likely change his thinking that said reagan last year opposed the idea because the energy industry was divided the issue tax would require new bureacracy administer and the resulting higher energy prices would harm competitiveness reuter 
trade	treasury baker sees smaller trade deficit treasury secretary james baker predicted the trade deficit would decline billion dlrs this year however acknowledged signs were still lacking such decline think are beginning see changes told the house appropriations committee has begun level off but don see beginning down yet told the panel reuter 
money-fx	bangemann calls for currency calm west german economics minister martin bangemann urged halt the talking down the dollar both official and private institutions the saying calm was needed the foreign exchanges speaking the opening the hanover industry fair bangemann said radical changes foreign exchange parities had left their mark exports and investments added that without these external difficulties west germany economy would have grown pct last year instead the pct reported bangemann said could not deny that the economic climate west germany had cooled but stressed the country was not downtrend the minister also criticised state subsidies which said mainly favoured large companies and created tax burden for smaller and medium sized firms bangemann referred specifically subsidies the steel industry which said had fought with all legal means when they did not correspond european community guidelines grants added that light the declining demand for steel capacities had adjusted saying the bonn government would not successfully able stand the way any change this industry bangemann also spoke out against protectionism and called for more competition citing example the federal post office the post office enjoys monopoly west germany especially far deciding who able provide telecommunications equipment reuter 
acq	neco npt bidder extends tender offer investor david laroche said has extended his cash offer buy shares neco enterprises inc dlrs each until april the tender offer was have expired yesterday filing with the securities and exchange commission laroche north kingstown investor who already holds nearly one third neco total outstanding commonstock also waived condition his offer that minimum shares actually tendered neco has shares outstanding reuter 
money-fx	treasury baker pursuing asian revaluations treasury secretary james baker told the house appropriations committee the united states still pressing newly industrialized south asian nations that have tied their currencies the dollar let those currencies strengthen against the dollar have seen some strengthening those currencies but not much would like said have been somewhat disappointed the results far but intend continue these discussions said reuter 
earn	pier imports pir amending dates split pier imports inc said amended its record and distribution dates for its previously announced three for two common and cts preferred stock split the split common and cts preferred shares will distributed july shareholders record june the stock split requires shareholder approval increase authorized shares common stock mln from mln and increase authorized shares preferred stock five mln from one mln the company said the change the dates was based the company desire have the additional common and cts preferred shares trade for the shortest practical period time when issued basis following favorable shareholder vote the annual meeting june said the previously announced record and distribution dates were may and june respectively the company said reuter 
earn	international biotechnologies ibio qtr shr loss cts loss cts net loss loss revs mln mln year shr loss cts loss dlrs net loss mln mln revs mln mln note net loss includes non recurring charges dlrs and dlrs full name international biotechnologies inc reuter 
crude	officials defend oil reserve sale plan treasury secretary james baker and office management and budget chief james miller defended administration plan sell the naval petroleum reserves response hostile questioning from member the house appropriations committee the officials said the plan was justified help bring the fiscal budget deficit and get the government out the oil business miller acknowleged the estimated sale proceeds billion dlrs would actually bring down the deficit about billion dlrs because the loss revenues from the sale oil from the reserves miller said the sale price may end higher sell the highest bidder miller said can get more take reuter 
trade	treasury baker not concerned bond declines treasury secretary james baker asked whether was concerned about yesterdays precipitous decline bond prices said was not questioned reporters left house committee hearing baker said when asked about the bond decline adding that was reflection concern about the possibility trade war what the markets think would the adverse consequences trade war said the administration was concerned that protectionism would lead international trade problems adding that thought the action against the japanese was still consistent with this policy reuter 
trade	japan not trade war yeutter says the united states and japan are not involved trade war despite sanctions announced last week against japanese semiconductors trade representative clayton yeutter said judgement not even close trade war yeutter told house agriculture committee hearing yeutter said japan takes action honor its agreement with the semiconductor trade then the retaliatory response will last relatively short period yeutter said japan must stop dumping chips third countries and buy more american computer chips reuter 
acq	ual ual completes buy hilton int ual inc said completed the acquisition hilton international from transworld corp twt paying mln dlrs cash and securities hilton international will add hotels ual westin hotel unit which operates hotels the two chains will have total hotels with rooms and employees said harry mullikin chairman and chief executive ual westin hotel unit has been elected the additional post chairman and chief executive hilton international ual will change its name allegis its annual meeting reuter 
acq	occidental oxy sells unit henkel kgaa henkel kgaa dusseldorf west germany said has completed the acquisition the process chemicals division occidental petroleum corp oxy occidental chemical corp subsidiary for undisclosed terms process chemicals acquired from diamond shamrock corp dia september makes specialty chemicals for variety industrial markets and has annual sales about mln dlrs reuter 
acq	american amr sets schedule for aircal merger amr corp american airlines unit said plans complete the integration aircal into its operations within four five months american merger with aircal announced last november received final approval from the department transportation yesterday american said richard pearson coordinator the airline merger activities will become chairman and chief executive officer aircal during the period completion the merger american said pearson succeeds william lyon who has been elected amr board added that david banmiller will continue aircal president and chief operating officer reuter 
acq	gencorp says expects complete sale wor this week all challenges resolved 
earn	syms corp sym qtr shr cts cts net mln mln revs mln mln year shr cts cts net mln mln revs mln mln note qtr inludes gain mln dlrs sale real estate reuter 
earn	nps technologies group npsgu qtr shr net revs mln mln year shr cts cts net mln mln revs mln mln note net includes dlrs charge net includes credit share amounts provided for qtr nps completed initial offering august reuter 
earn	freeport mcmoran resource frp qtly payout qtly cash distribution cts cts prior pay may record april note full name freeport mcmoran resources partners reuter 
acq	butler btlr buy skylight manufacturer butler mfg said signed memorandum intent acquire naturalite inc manufacturer skylights said garland texas based naturalite had sales about mln dlrs terms were not disclosed reuter 
earn	data measurement corp dmcb qtr shr cts cts net revs mln mln note shrs reflect for stock split reuter 
earn	pubco corp pubo year net oper shr cts nine cts oper net revs mln mln note oper net excludes tax credits current year results include proceeds from termination pension plan reuter 
earn	montreal trustco inc year net shr cts cts net mln mln revs mln mln avg shrs mln mln reuter 
acq	tradestar tirr acquires image video tradestar corp said acquired image video inc for undisclosed sum the company said image video produces and distributes videos for the home market image video scheduled release video projects said reuter 
trade	chirac reagan discuss arms control trade french prime minister jacques chirac opened talks with president ronald reagan expected focus superpower arms control moves and trade issues french officials said major aim chirac visit was present france concern that the united states might ignore european security interests any accord with moscow removing medium range nuclear missiles from the continent but reagan was expected assure chirac that will not agree deal the geneva superpower talks that would give the russians superiority shorter range systems diplomats said france has expressed doubts about removing missiles from europe long the soviet union maintains edge other weaponry particularly shorter range rockets conventional forces and chemical weapons speaking last night chirac set out the french position saying any agreement intermediate nuclear forces should mention how equality can achieved short range missiles reagan and chirac meanwhile signed agreement ending dispute between two leading research institutes over patent rights blood screening test for the deadly disease aids joint statement chirac and reagan said the pasteur institute paris and the national cancer institute bethesda maryland agreed give part the royalties from the test new foundation dedicated the wordwide fight against aids acquired immune deficiency syndrome this agreement opens new era franco american cooperation allowing france and the united states join their efforts control this terrible disease the hopes speeding the development aids vaccine and cure reagan said the signing ceremony said the two parties would share the patent and give per cent the royalties received the new foundation the foundation would also raise private funds and would donate per cent its money combat aids less developed countries both leaders stressed the long ties between france and the united states during welcoming ceremony the white house east room with reagan describing france america oldest ally war and peace have come tell you that are remain motivated the same ideals freedom the same will face the dangers which both confront terrorism war hunger poverty new diseases and drugs chirac replied but the two countries are likely have less agree over the issue trade where chirac worried about rise protectionism the congress senior official yesterday dismissed french idea sell cut price grain poor countries africa way lessening surplus stocks chirac expected canvass support for the idea first proposed french agriculture minister francois guillaume during his two day visit washington the official described the idea grain producers opec reference the organization petroleum exporting countries and said went against the reagan administration desire lessen government intervention trade reuter 
acq	gencorp says alternative hostile tender announced within week 
earn	canada airline profits seen higher canada airline industry shaken recent merger that creates powerful new competitor for government owned air canada has begun its first serious drive for profitability years industry analysts said now got company that can compete with air canada said thomas bradley richardson greenshields canada ltd clearly can head head any market the new airline which arose from the mln canadian dlr takeover canadian pacific air lines ltd the small but cash rich pacific western airlines corp was launched last week canadian airlines international ltd canadian airlines will have pct the billion canadian dlr domestic market against air canada pct wardair international ltd third with about nine pct analysts believe pacific western aggressive and cost conscious chairman rhys eyton will develop the true potential the former air which floundered for four decades inside the bureaucracy conglomerate canadian pacific ltd they said air management style had been not much different from that air canada formed years ago because neither airline was held accountable its owners not that long ago maybe even just six months ago these two airlines were totally fiscally irresponsible neither seemed that concerned about the bottom line said bradley but with air being run eyton will very conscious profitability and shareholder return and air canada the verge going that way said air always fighting for market share rather than profits was perennial money loser analyst wilfred hahn bache securities inc said recent report prior its takeover december had accumulated long term debt mln canadian dlrs from its losses totaled mln canadian dlrs air canada widely expected privatized later this year public share offering lost mln canadian dlrs revenues billion dlrs has debt more than billion dlrs although only minority interest likely sold the public the prospect privatization time increased competition forcing air canada pay more attention finances analysts said recently disclosed that expects report profit excess mln mln dlrs for however this profit recovery was due less management skill than the fact that all canadian airlines had good year analysts said tourists came canada record numbers last year attracted the relatively weak canadian dollar and expo vancouver which alone had more than mln visitors for the next few years most analysts see three six pct air traffic growth and they expect profits will come from cost cutting and careful spending peter friend walywn stodgell cochran murray ltd said institutional buyers will eager add air canada their portfolios blue chip investment but warned that new competition makes profit growth less certain the airline with something lose will air canada one time had fixed system which was theirs and nobody else friend said many analysts recommend that investors buy and hold airline shares for least year analysts said air canada immediate concern ahead public stock offering will unloading unprofitable air routes without setting off political storm also will faced with expensive but necessary updating its aging fleet aircraft wardair preferring strong medicine now instead later already has embarked one billion canadian dlr purchase dozen aircraft from europe airbus industrie canadian airlines which has aircraft last week ordered six commuter planes from british aerospace and said would soon buy many six wide bodied aircraft from airbus the boeing analysts said canadian airlines with its newer fleet needs make fewer replacements and can afford these without hurting profits steven garmaise wood gundy inc expects canadian airlines profit will more than double last year mln canadian dlrs pacific western reuter 
acq	gencorp alternative plan due within week william reynolds chairman and chief executive gencorp inc told shareholders expects announce company alternative dlr per share hostile tender within week last night the company urged shareholders reject the tender reynolds urged shareholders patient saying the group sponsoring the tender offer had months evaluate gencorp while have had only days respond reynolds also disclosed the company has resolved legal challenges its planned sale wor serving the new york city market and expects complete the sale friday reynolds said the company expects book after tax gain mln dlrs from the sale wor the company plans sell the station mca inc mca for mln dlrs reynolds did not specify whether the legal challenges were dropped dismissed the federal communications commission has already approved the station sale money from the sale the station will play role helping develop alternative the tender offer sponsored afg industries inc afg and wagner and brown reynolds said provided other details randall hubbard chairman afg and joel reed chief financial officer wagner and brown attended the meeting which was shifted from tire plant downtown hotel about people were present despite overnight snowstorm hubbard and reed chatted briefly with reynolds after the meeting but declined discuss their proposal with reporters reynolds told the shareholders friends and family members have been telling him bill just don pay greenmail end the takeover threat greenmail describes buyout minority shareholder price not available other holders reynolds said considers repugnant device shareholders elected management slate directors mario gabelli head new york investment firm which owns large block stock proposed one nominee for the board gabelli said the unsuccessful attempt was designed stiffen the backbone the board discourage greenmail hubbard and reed reiterated previous statements that they are open negotiations with gencorp asked about severance contracts for key executives the event shift control the company reynolds asserted developing alternatives that would not result change control asked whether the company plan would superior any proposal afg and wagner and brown reynolds commented know the company know the values and know the opportunities better than any outside group response question about whether any units are for sale said only that gencorp evaluating alternatives reuter 
earn	illinois power ipc two months february net shr cts cts net revs mln mln avg shrs note per share results reflect payment preferred dividend requirements reuter 
trade	reagan renews anti protectionism stand white house says trade war unlikely 
earn	avery avry sees qtr year loss avery inc said the company will not show profit the next quarter and will probably not show profit speaking the annual shareholders meeting chairman nelson peltz declined estimate when the company would become profitable peltz said uniroyal chemical acquired last year would increase avery operating earnings but that associated acquisition costs would prevent avery from posting net profits for some time the meeting stockholders approved increase the authorized number common shares mln from mln the fiscal year ended may avery reported loss dlrs the company has changed its fiscal year end sept the increase common shares would cover among other things the exercise triangle industries inc tri and drexel burnham lambert inc warrants issued relation avery mln dlr acquisition uniroyal chemical late last year reuter 
trade	trade war fears may prompt stock markets downturn the threatened trade war between the united states and japan just the kind shock that economists say could send world stock markets into tailspin but they are not sure that would brief corrective dip whether this week falling share prices mark the start bear market the billion dollar question said richard brien economist american express international bank london japan trade surplus billion dlrs last year has poured into share and bond markets around the world and funded good chunk the huge budget deficit around third any new sale treasury bonds has been bought the japanese however japanese investors have lost money the dollar falls and will lose more the united states lets fall further cut the trade deficit the counterpart improving the trade deficit either through lower dollar because the increases duties japanese electronic goods may hit the capital inflow which has financed the budget deficit and the trade deficit does fall the japanese will have less money invest entice investors fill the gap that would left the japanese stopped buying bonds interest rates would have soar brien said the subsequent shift from shares bonds could cause major falls the world stock markets year ago could pretty confident about the markets said brien now much less certain buoyant share prices are supposed reflect booming economy but the world economy with sluggish growth best the industrial nations massive load third world debt and huge trade imbalances not good shape said brien nevertheless new york analyst william raferty smith barney harris upham said still bull market adding that corrections are normal part rising market and the bear usually strikes slowly economist evelyn brody morgan grenfell and london said the huge sums money going through the world financial system will keep floor under share and bond prices although interest the japanese putting their money non dollar denominated bonds and stocks has increased very difficult see where else they can put their money than dollars and especially the treasury bond market according david butcher senior executive yamaichi securities ltd bond operation london said the japanese are paying much closer attention now the french franc and west german mark the longer run worries about what trade tensions and the dollar slide will mean for securities markets reuter 
earn	big bear inc bgbr qtr feb net shr cts cts net revs mln mln six mths shr cts cts net revs mln mln reuter 
earn	northview corp novc year net shr cts cts net revs mln mln reuter 
earn	pennzoil sees lower qtr net before unusual item against year ago loss cts 
earn	sceptre resources ltd srl year net shr seven cts two cts net revs mln mln note shr after preferred divs reuter 
acq	talking point borg warner corp bor borg warner corp will vigorously resist gaf corp dlr per share takeover offer but the midwest conglomerate may fall prey another offer either from gaf its own management analysts believe analysts also said borg warner may attempt escape gaf through restructuring the speculation pushed borg warner stock heavy trading analysts predicted feisty gaf chairman samuel heyman will stage tough campaign gain control borg warner can add its profitable plastics and chemical business gaf seems from least their dealing with raider irwin jacobs that they don want taken over the question now they acquiesce gaf think instinctively they want remain independent said dudley heer duff and phelps borg warner has been under siege takeover speculation for almost year last week jacobs investment vehicle minstar inc and investor group sold its mln borg warner shares the same day gaf corp raised its stake mln shares pct the outstanding jacobs was interested buying the company but took steps toward transaction their borg warner policy has been stonewall them for the last nine months been one the dullest corporate battles seen said one analyst the battle however has heated and the range breakup values wall street span from the current market price almost dlrs per share most analysts said they think price the low would appropriate arbitragers speculate that gaf will not give easily its billion dlr offer buy the balance borg warner analysts who know gaf predict heyman will either end with borg warner enrich his chemicals and building materials company some other way heyman two years ago attempted unsuccessful takeover union carbide corp but gaf benefited from that company restructuring borg warner can quibble that not legitimate offer seems the short borg warner kind between rock and hard place they either have accept dlr proposal perhaps work deal where sweetened personally think the company worth around dlrs per share said pershing analyst richard henderson henderson also speculated the company might attempt restructuring such the one carried out goodyear tire and rubber last year when was being courted sir james goldsmith the company bought back the financier stock and carried out wider share repurchase arbitragers however said they not believe heyman seeking greenmail the repurchase his stock the company premium analysts noted that heyman seems have problems with financing the transaction previously associated with junk bond experts drexel burnham lambert inc gaf said would finance its borg warner takeover with bank financing gaf said would make tender offer following merger agreement approved the borg warner board and conditioned the board recommendation the tender offer and merger heyman said letter borg warner that expects merger would provide job security for borg warner employees since the two companies businesses overlap analysts however believe heyman would sell off assets did not want repay debt from the transaction gaf stock rose today believe obviously gaf takes over borg warner the level proposing would enhance gaf share values substantially said oppenheimer analyst charles rose said dlrs per share heyman average cost for the company stock would dlrs per share based gaf current holdings rose said the borg warner plastics and chemical business which makes thermo plastics the asset attracting heyman analysts said accounts for third borg earnings the plastics are used telephone equipment office equipment and appliances borg has half the market the and the leading technical player and the leading innovator rose said its competitors are dow chemical dow and monsanto corp mtc said borg warner also has automotive parts business and protective systems business which includes wells fargo security guards also has information services business and trying sell its financial services business borg warner earned mln dlrs dlrs per share revenues billion dlrs smaller gaf earned operating basis mln dlrs dlrs per share sales mln dlrs gaf net earnings included after tax gain mln from its participation union carbide exchange offer special union carbide dividend and the sale its union carbide shares reuter 
acq	manhattan nat mlc holders vote stock sale manhattan national corp said its shareholders overwhelmingly approved proprosal through which union central life insurance took control the company acquiring about mln shares newly issued manhattan national common stock for mln dlrs the company said the transaction gives union central cincinnati based mutual insurance company total shares manhattan national stock pct the total outstanding manhattan national said about three mln dlrs the invested funds will used repay short term debt and two mln dlrs has been earmarked for other short term needs the remainder will available for the company insurance units for other business purposes said charles hinkley president and chief executive officer union central expected named chairman president and chief executive manhattan national the company said reuter 
earn	pennzoil pzl sees lower first qtr pennzoil chairman hugh liedtke told meeting analysts that the company expects its first quarter net down considerably before unusual item from the loss cts share reported year ago liedtke did not say how large the unusual item would still closing our books the first quarter don have final numbers for you said reuter 
acq	quantum venture ups computer network cmnt stake computer network technology corp cnt said that quantum venture partners private investment limited partnership has acquired additional shares cnt common stock raising its stake cnt pct from pct the currently outstanding shares cnt said quantum bought the shares exercising mln dlrs warrants bringing its total investment cnt mln dlrs cnt also said sand technology systems inc canada bought two its channelink networking units for data processing service for major health care facilities canada reuter 
earn	elcor elk ups qtly div sets stock split elcor corp said raised its quarterly common stock dividend cts share from nine cts and declared two for one common stock split the company said the increased dividend will paid may shareholders record april the stock split elcor said will paid the form pct stock dividend may shareholders record may reuter 
acq	quest qbio signs pact with alza aza quest biotechnology inc said its quest blood substitute inc subsidiary executed agreement with alza corp aza which will make alza preferred shareholder its subsidiary quest said the agreement also offers alza the right acquire pct the unit equity exchange for the acquisition patent rights alza technology area where quest has interest quest also said its signed merger agreement with hunt research corp and its affiliate icas corp quest said expects complete the merger within the next several weeks reuter 
acq	chubb completes sovereign sovr buyout chubb corp said completed the previously announced acquisition sovereign corp under terms the acquisition sovereign shareholders will receive tax free exchange share chubb common for each sovereign share held chubb said the transaction was valued dlrs share based the closing price its stock march reuter 
acq	inverness buys assets from parent silverton inverness petroleum ltd said acquired the oil and gas assets its controlling shareholder silverton resources ltd for mln dlrs effective march inverness said issued class convertible retractable redeemable preferred shares exchange for the assets which include all silverton oil and gas properties undeveloped acreage and its shares australian subsidiary exploration pty ltd the preferred shares were immediately retracted for cash the company said the transaction resulted discharge silverton bank debt mln dlrs and three mln dlr loan inverness from silverton inverness said result the acquisition inverness has bank debt mln dlrs said reuter 
acq	bristol myers trust byu extends expiration americus shareowner service corp said the americus trust for bristol myers will continue accept tendered bristol meyers bmy shares until december one extending the original expiration date april one for eight months the common stock price exceeds the trust termination price dlrs americus shareowner service said the trust will temporarily closed until the price the underlying stock falls below the termination price reuter 
acq	quest biotechnology qbio unit merger pact quest biotechnology inc said its new subsidiary quest blood substitute inc signed the agreement and plan merger with hunt research corp and its affiliate icas corp said quest blood expects complete the merger within the next several weeks terms were not disclosed related transaction quest blood said executed agreement with alza corp which will make alza preferred shareholder quest blood and offer alza the right acquire total equity position pct quest blood exchange for acquisition patent rights alza technology reuter 
acq	lincoln foodservice linn completes purchase lincoln foodservice products inc said completed purchasing certain assets redco product line food slicers cutters and wedgers from the dean alco food prep division alco foodservice equipment terms were not disclosed reuter 
earn	financial corp year shr cts cts net mln mln revs mln mln note per share data reflects elimination shares owned pct owned subsidiary and reflect one for three reverse stock split effective march reuter 
earn	energy ventures cinc engy qtr net net profit loss revs year net profit loss revs mln reuter 
acq	wilson brothers completes sale wilson brothers said completed the sale most the assets its enro shirt inc enro ease inc and foxcroft shirt ltd subsidiaries enro acquisition corp for about mln dlrs half cash and half subordinated promissory notes enro acquisition newly formed corporation and owns ramar intercapital corp and wilson chief operating officer jerome kaplan and other managers enro acquisition also assumed most the units liabilities including mln dlrs term loan completion the sale and recent sales substantially all the assets the company pct owned affiliate gmw industries inc are expected result net gain about nine mln dlrs the first quarter for the year ago first quarter wilson reported net income dlrs including dlrs credit sales mln dlrs reuter 
earn	elsinore corp elx year loss shr loss dlrs loss dlrs net loss loss revs mln mln note current year figures include mln dlr provision for anticipated loss note receivable mln dlr writedown asset carrying value and mln dlr provision for future operating losses elsinore shore associates prior year figures include mln dlr provision for future losses elsinore shore associates reuter 
earn	gruntal financial gru qtr feb net shr primary cts cts shr diluted cts cts net revs mln mln avg shrs primary mln mln avg shrs diluted mln mln six mths shr primary cts cts shr diluted cts cts net revs mln mln avg shrs primary mln mln avg shrs diluted mln mln reuter 
trade	white house discounts threat trade war president reagan has reaffirmed his opposition protectionism and his chief spokesman said trade sanctions imposed japan were unlikely start trade war don want down that road reagan was quoted telling prime minister jacques chirac after the visiting french official expressed concern about the rising tide protectionist sentiment the united states later white house spokesman marlin fitzwater defended the new sanctions against japan and said administration officials not believe this will result trade war the first time that the united states has taken action this type and significant but nothing alarmed about the presidential spokesman added not want protectionism not want trade war said fitzwater said the president was forced act the japanese microchip case because tokyo had failed fulfill agreement make some corrections noting that there are enormous pressures the congress and the land for the united states take tough stand said this was case where felt simply had act fitzwater said the decision impose sanctions was well considered this administration and not taken lightly while the white house official held open the possibility that washington and tokyo will settle their trade dispute indicated settlement probably would not come time head off the sanctions are always open negotations whether settlement could occur time prevent this the sanctions from going into effect questionable this point the spokesman said the sanctions take effect mid april reuter 
earn	centuri inc cent year net oper shr cts six cts oper net revs mln mln note and years exclude loss discontinued operations dlrs and dlrs respectively reuter 
acq	standex international sxi buys british firm standex international corp said acquired alan duffy engineering ltd blackburn lancashire england for undisclosed amount cash the newly acquired company will operate part standex perkins division the company said reuter 
money-fx	treasury baker pursuing asian revaluations treasury secretary james baker told the house appropriations committee the united states still pressing newly industrialized south asian nations that have tied their currencies the dollar let those currencies strengthen against the currency have seen some strengthening those currencies but not much would like said have been somewhat disappointed the results far but intend continue these discussions said reuter 
acq	sterling drug sty sells assets subsidiary sterling drug inc said sold the assets its subsidiary greene dental products inc rinn corp elgin ill the cash purchase price was not disclosed greene produces and sells dental ray tabs mount products and record systems reuter 
trade	baldrige says ahead with japanese sanctions 
trade	baldrige says impose japanese sanctions commerce secretary malcolm baldrige said the united states would ahead with planned mln dlr sanctions against japanese semiconductor exports despite any japanese talks avert the trade curbs said speech export import group that was sure the united states and japan could work out their dispute over unfair japanese trade practices semiconductor trade but sure the sanctions will before work out sanctions are imposed april also said did not think there would trade war with japan because japan had too much value exports the united states risk such war those fears are unfounded said told reporters later that the sharp drop the securities market was not due fears trade war but fear inflation and that the federal reserve may act that fact market reaction was also due said the drop the value the dollar although trade issues did have some effect baldrige said that observers who were attributing the drop the market trade sanctions were barking the wrong tree said the market observers will realize this shortly baldrige said his remarks did not mean suggest anything about the market the exchange rate the dollar reuter 
trade	senior official visit japan trade row grows undersecretary state michael armacost will visit tokyo next week for meetings with high level officials that will include discussions growing trade row over japanese semiconductor electronics products the first high level official visit japan since president reagan announced last week plans impose tariffs worth mln dls japanese electronic goods april retaliation for tokyo alleged failure live pact microchip trade signed last september the trip set for april the state department said reuter 
crude	union pacific unp closes venezuelan partnership union pacific corp said has closed the previously announced partnership with petroleos venezuela venezuela national oil company own barrel per day refinery corpus christi texas union pacific said the partnership called champlin refining will acquire the refining and distribution system owned and operated union pacific champlin petroleum subsidiary the venezuelan company also signed year feedstock agreement with the partnership supply least barrels day venezuelan crude oil and naphtha market related prices reuter 
acq	scan graphics captive venture capital merge scan graphics inc said has completed merger with captive venture capital inc which former shareholders scan graphics have beome majority shareholders the merged company and the scan graphics board has been named the board the merged company said the merged company now known scan graphics inc and expects listed the nasdaq system soon said captive venture issued restricted preferred shares convertible into mln common shares for scan graphics captive had common shares outstanding before the merger reuter 
earn	nodaway valley nvco qtr jan net shr cts cts net revs mln year shr cts cts net revs mln mln reuter 
earn	lightning minerals inc year loss shr loss four cts loss six cts net loss loss revs mln reuter 
earn	bobbie brooks inc bbks year net oper shr profit cts loss dlrs oper net profit loss revs mln mln avg shrs note current year excludes gain about mln dlrs cts shr from benefit tax loss carryforward and includes pretax gain about mln dlrs from sale export quota rights year ago includes charge five mln dlrs from discontinued operations for eight mths ended dec that year company changed calendar year from previous fiscal year ended april reuter 
earn	cellular communications inc comm nine mths dec end shr loss dlrs loss six cts net loss mln loss revs mln notel company changed fiscal year december end prior year net includes gain dlrs from sale minority interests connecticut partnerships reuter 
earn	wilson brothers qtr shr loss cts loss cts net loss mln loss mln revs mln mln year shr profit cts loss cts net profit loss mln revs mln mln note year and qtr net includes loss dlrs and dlrs respectively from from discontinued operations net includes mln dlr credit year and qtr includes gain mln dlrs and loss respectively from discontinued operations reuter 
earn	poloron products inc year oper net oper shr cts cts oper net revs mln mln note excludes loss mln dlrs dlrs shr gain dlrs cts from discontinued operations also excludes extraordinary gain equal cts shr ended dec and ended nov company changed fiscal year end dec reuter 
earn	genex corp gnex year loss shr loss cts loss dlrs net loss mln loss mln revs mln note current year includes writedown mln dlrs reuter 
earn	bic corp bic sets quarterly qtly div cts cts prior pay april record april reuter 
earn	culp inc culp sets quarterly qtly div two cts two cts prior pay may record april reuter 
trade	broader eep sought republican lawmakers republican members the house agriculture committee said they will propose amendments tomorrow pending trade bill increasing funding for the export enhancement program eep and significantly expanding the scope the program press conference republican lawmakers said they would propose expanding eep include all countries willing purchase additional commodities reasonable prices addition the congressmen said they would propose extending the life eep five years from the current three years and increasing the eep funding ceiling billion dlrs from billion present the agriculture committee tomorrow will begin drafting amendments omnibus trade bill now before the house responding the republican plan agriculture secretary richard lyng and trade representative clayton yeutter said they favor flexible targeted use eep instead across the board program which they termed too costly the republican congressmen also said they will offer amendment the trade bill instructing the agriculture department value the bonus commodities used for eep the market value rather than the cost acquisition but lyng said usda already plans change market value accounting rather than acquisition value order avoid hitting funding ceiling for eep billion dlrs lyng said under market value accounting only about mln dlrs eep commodities have been used date using acquisition value usda officials said the value higher reuter 
earn	wall street stocks ames dept stores add ames department stores inc fell what analysts said was reaction surprise announcement earlier today the company that earnings the fiscal year ended january will decline sharply ames said expects report earnings between and cts per share compared with dlrs per share the previous year were looking for dlrs said analyst major wall street firm who declined identified ames said most the decline resulted from inventory shortage its secaucus distribution center the obvious suspicion that there has been some kind fraud theft said ralph shulansky senior vice president ames not have hard evidence are still putting things together said would take several weeks for the company complete investigation said there are law enforcement officials involved this time declined quantify the inventory shortage but said was the major reason for the decline earnings decline gross margin percentage and increase the effective tax rate also contributed the downturn ames said reuter 
earn	taro vit industries ltd tarof year loss shr loss eight cts profit nil net loss profit sales reuter 
acq	tribune trb scripps scrp exchange papers tribune said exchanged cash and the assets eight its sunbelt publishing community publications circulated the naples and fort myers fla area for assets nine community papers suburban tampa and petersburg published gulf coast newspapers inc gulf coast subsidiary the scripps doing business scripps howard additional financial details were disclosed reuter 
trade	official visit japan trade row grows undersecretary state michael armacost will visit tokyo next week for meetings with high level officials that will include talks the growing trade row over japanese semiconductor electronics products the first high level official visit japan since president reagan announced last week plans impose tariffs worth mln dlrs japanese electronic goods april retaliation for tokyo alleged failure live pact microchip trade signed last september deputy state department spokeswoman phyllis oakley said the trip set for april japanese talks this kind are regularly held each year this time she told reporters the armacost discussions with deputy foreign minister ryohei murata and other senior japanese officials will focus japanese foreign aid programs and political security issues mutual concern she added although exchange views bilateral relations expected the talks are not directly related japanese trade relations she insisted but response questions oakley acknowledged that trade will discussed japan billion dlrs trade surplus with the united states last year has come under fire congress which concerned about the loss jobs foreign competition and with the record billion dlrs trade deficit reuter 
acq	royex offers dlrs shr and dlrs warrant for international corona 
ship	cargo preference squabble continues the agriculture department said will begin charging interest tomorrow the over mln dlrs the department transportation dot owes usda pay for its share the cost shipping food aid vessels usda general sales manager melvin sims told the senate appropriations agriculture subcommittee his department had billed dot mln dlrs and that interest that amount and additional charge would begin accruing april usda foreign agricultural service administrator thomas kay told reuters dot could owe usda much mln dlrs the two departments are trying hammer out accord how fund the increasing share food aid required shipped flag vessels under farm bill provision cargo preference sims said the agencies were near reaching memorandum understanding governing how dot would pay for its share the cargo preference costs under the bill the percentage food aid shipments carried vessels was increase gradually over three years pct from pct although the increased cost was funded dot sims said that department date has contributed money reuter 
earn	baruch foster corp bfo qtr loss shr loss cts profit one net loss profit revs year shr loss dlrs profit cts net loss profit revs mln note year net includes dlr writedown oil properties and reserves reuter 
acq	gould gld division gets financing gould inc systems protection division said selected merrill lynch interfunding inc provide financing for the purchase the division from the parent company terms were not disclosed the agreement was announced february and gould expects the transaction completed the end april the agreement assures the retention more than jobs northeast philadelphia plant which had been jeapardy when gould had accepted tentative offer from westinghouse inc which was later terminated reuter 
acq	welbilt welb completes acquisitions welbilt corp said completed the previously announced acquisitions the assets and manufacturing and food machinery engineering two manufacturers automated bakery production equipment headquartered toronto reuter 
acq	schwab completes purchase schwab and charles schwab announced the completion the mln dlr purchase from bankamerica charles schwab and inc and its holding company charles schwab corp the leveraged buyout being financed syndicate seven banks led the security pacific national bank unit security pacific corp spc the announcement said charles schwab and the nation largest discount brokerage firm the schwab announcement said bankamerica received mln dlrs cash mln pct senior subordinated debentures mln dlrs nine pct junior subordinated debentures and the right receive pct the appreciated value the common equity the new company over maximum period eight years security pacific also acquired stock appreciation right equal pct the value the new company fully diluted common stock schwab said the right exchangeable into warrants upon transfer security pacific non affiliate schwab said bankamerica originally acquired schwab for mln dlrs worth bankamerica common stock the sale the profitable discount brokerage firm back charles schwab was aimed raising capital and was seen banking analysts means heading off hostile takeover attempt first interstate bancorp reuter 
acq	royex makes bid for international corona royex gold mining corp said making offer for international corona resources ltd dlrs per share and dlrs per warrant the offer covers four mln corona common shares and all outstanding dlr corona share purchase warrants expiring august royex said royex said that gains four mln corona common shares its interest corona will increase pct from pct also said that more than four mln shares are tendered will pay for them pro rata basis royex said the purchase price for each corona share consists one royex convertible retractable zero coupon series first preference share dlrs nominal value one royex convertible pct series first preference share dlrs nominal value one five year dlr royex share purchase warrant and four dlrs cash the price for each corona warrant consists convertible retractable zero coupon series first preference share dlrs nominal value and one five year royex share purchase warrant royex said both series preference shares will convertible into royex common shares initially basis common shares for each preference share converted reuter 
earn	overland express inc over year loss shr loss dlrs loss dlrs net loss mln loss revs mln mln reuter 
earn	robins qrah files monthly report robins said filed its consolidated net earnings report for february which amounted dlrs compared for the comparable month the year prior consolidated net earnings for the two months ended feb amounted mln dlrs compared mln dlrs for the comparable period year earlier said robbins which chapter said filed the report with the trustee overseeing its case reuter 
acq	butler btlr purchase naturalite butler manufacturing said signed letter intent purchase naturalite inc designer skylights terms were not disclosed naturalite had sales about mln dlrs the transaction expected completed may and subject both boards approvals reuter 
earn	mechtron international corp mcht year net shr three cts cts net revs mln mln avg shrs reuter 
earn	devon resource investors din year end dec shr loss cts profit cts net loss profit revs mln reuter 
acq	safety kleen completes acquisition safety kleen corp said has completed the acquisition mckesson envirosystems unit mckesson corp mck for undisclosed amount safety kleen industrial automotive parts cleaning service said mckesson envirosystems has solvent recycling plants illinois kentucky and puerto rico reuter 
earn	bowl america inc bwla ups payout qtly div cts cts prior pay may record april reuter 
earn	concord fabrics inc cis qtr net shr cts cts net revs mln mln six mths shr cts cts net revs mln mln reuter 
earn	american pacesetter aec qtr net oper shr profit cts loss six cts oper net profit loss revs mln mln avg shrs year oper shr profit dlrs profit three cts oper net profit profit revs mln mln avg shrs note current qtr figures exclude gain from discontinued operations dlrs cts per share loss dlrs cts per share current year figures exclude gain from discontinued operations dlrs cts per share loss dlrs cts per share reuter 
earn	corrected elder beerman stores corp eldr qtr feb one end oper shr cts dlrs oper net sales mln mln year oper shr dlrs dlrs oper net sales mln mln note prior year net both periods excludes gain dlrs from reversion overfunded pension plans corrects current year operating net reuter 
trade	correction senior official washington story headlined senior official visit japan trade row grows please read graf tariffs worth mln dlrs correcting amount reuter 
earn	getty petroleum gty year net shr dlrs dlrs qtly div four cts four cts prior net mln mln revs mln billion avg shrs mln mln note cash dividend payable april holders record april shr figures adjusted for five pct stock dividend declared march reuter 
earn	getty petroleum gty sets stock dividend getty petroleum corp said its board declared five pct stock dividend payable april shareholders record april the company also declared regular cash dividend four cts share and reported net income rose mln dlrs from mln dlrs reuter 
earn	central financial fcc sees higher earnings first central financial corp said expects earnings rise significantly and said actively seeking acquisition the property and casualty insurance company chairman and chief executive officer martin simon told reuters interview that expects earnings cts share compared with cts year ago said the company currently has the sufficient momentum achieve those earnings and the successful completion licensing applications operate pennsylvania delaware connecticut and ohio should fuel our earnings the company currently licenced operate only new york state simon estimated that the company would earn seven cts share the first quarter compared three cts the same quarter year ago and eight cts share the second quarter compared five cts earned expects the company earn nine cts share for each the final two quarters addition simon said first central financial actively looking for and has several acquisition brokers looking for small life insurance company acquire said the acquisition should the mln dlr range and will part strategy expanding the company into wide spectrum insurance services specific company has been targeted yet but would like make first acquisition said said first central financial would not itself easy takeover target wants remain independent said and has implemented staggered board directors system addition simon the company biggest shareholder holds about the mln ouitstanding shares reuter 
crude	imperial oil imo talks with suppliers imperial oil ltd pct owned exxon corp xon negotiating with major crude oil suppliers concerning the effects trial deregulation alberta shut crude oil production scheduled implemented june company spokesman said from our point view question entering into negotiations discussions make appropriate changes contracts reflect the changes that are going take place june spokesman john cote told reuters reply query commenting published reports that imperial had suspended its oil supply contracts cote said not question cancelling suspending any the agreements this point june alberta energy resources conservation board will lift its crude oil marketing prorationing system regulating shut light and medium crude production trial basis the end under the new system producers and refiners will allowed negotiate volumes shut oil delivered under purchase contracts shut crude the surplus between the total amount oil being produced and the amount being purchased refiners have talked number our major suppliers and discussed the upcoming change with them but nothing has been finalized imperial manager western crude supply gary strong said under alberta trial system imperial wants match reasonable supply crude against the company forecast demand for its refineries strong said have know what they have and how that relates what need total said strong said figures the amount crude production imperial purchases from outside suppliers were not immediately available reuter 
earn	harvard industries hava announces stock split harvard industries inc said its board approved two for one stock split the form special stock dividend its outstanding common stock the special dividend payable may stockholders record april the split will effected one additional share for each common share held the company said reuter 
earn	overland express inc over year loss shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note includes loss mln dlrs from restructuring note loss includes mln dlrs for restructuring costs associated with disposal property loss also includes the sale loss the company aircraft reuter 
earn	artra group inc ata qtr oper loss oper shr loss dlrs loss dlrs oper net loss loss revs mln mln avg shrs year oper shr profit cts loss dlrs oper net profit loss revs mln mln avg shrs note excludes loss mln dlrs loss mln dlrs qtr and gain dlrs loss mln dlrs year from discontinued operations also excludes loss mln dlrs current qtr from reversal tax loss carryforwards includes gain mln dlrs current year from purchase envirodyne industries inc shares and charge mln dlrs current qtr from research and development costs both periods includes operations sargent welch scientific acquired nov and interest rosecraft inc since june and lawrence jewelry corp since oct both periods includes interest koch inc since feb reuter 
acq	allied signal ald completes unit sale allied signal inc said completed the previously announced sale its linotype group commerzbank west germany the purchase price was not disclosed eschborn west germany based linotype had sales more than mln dlrs the company said reuter 
trade	official sees evidence export growth beryl sprinkel chairman the white house council economic advisers said sees growing but incomplete evidence that export volumes are finally strengthening remarks prepared for speech today los angeles sprinkel said the decline the dollar value since had largely restored cost competitiveness world markets and appeared signal end trade imbalances confident that further improvements our trade performance will contribute significantly growth said reuter 
interest	citibank says raises base rate pct from pct 
acq	gaf gaf plans changes offer accepted gaf corp chairman samuel heyman told reuters did not foresee major changes borg warner bor gaf dlr per share offer acquire borg warner successful have great respect for borg warner mangagement heyman said following speech the american institute chemical engineers annual meeting don have any particular changes mind earlier today gaf announced that billion dlr offer was presented the board directors the chicago based company last week gaf had purchased additional shares the company for dlrs increasing its stake borg warner pct gaf made unsuccessful effort acquire union carbide corp for five billion dlrs and has since expressed interest acquiring chemical company that would complement its own chemical business when asked whether gaf would consider selling the non chemical assets borg warner its takeover offer accepted heyman declined comment also refused say whether gaf would consider increasing its the dollar value its takeover offer the initial proposal rejected heyman emphasized that considered the gaf offer borg warner friendly one think made fair offer that good for borg warner management and good for its shareholders heyman said his speech heyman said feared too many chemical companies were attempting specialize the same high margin niche products said they were turning their backs core commodity chemical businesses heyman said the chemical industry has taken total seven billion dlrs pre tax writeoffs during the past two years trim balance sheets predicted that the chemical industry which reported total billion dlrs profits would see pct gain earnings this year because increasing exports cheaper feedstock costs and the weakened dlr reuter 
earn	transworld liquidating twt distribute transworld corp liquidating trust said expects make initial distribution beneficiaries valued dlrs per unit from the proceeds the sale hilton international the value the distribution assumes yesterday closing price ual common stock dlrs per share earlier ual announced that completed the purchase hilton international for mln dlrs cash and mln shares ual inc common stock total value the sale about mln dlrs transworld said pursuant the sale ual exercised its option substitute cash for mln dlrs debentures and shares common stock transworld liquidating said each unit beneficial interest the trust will allocated shares ual common stock the aggregate value the distribution mln dlrs the balance the cash the trust will held the trust until april and will used satisfy all ouststanding liabilities and obligations the trust after satisfaction its liabilities and obligations the trust would make second distribution its beneficiaries any remaining cash about april trading the beneficial interests which are listed the new york stock exchange will cease after today order receive the distribution beneficiaries must surrender the certificates representing their beneficial interests the trust was formed year end facilitate the sale hilton international reuter 
earn	mobile america corp mame year end dec shr dlrs dlr net revs mln reuter 
earn	international dairy queen indqa qtr net ended february shr cts cts net rev mln mln avg shares note company full name international dairy queen inc reuter 
earn	tomaso industries inc dtom year net shr dlrs dlrs net revs mln mln note translated from italian lire dollar equivalents the exchange rate prevailing dec reuter 
earn	coleman sees cts shr qtr charge from heat exchanger replacement program 
earn	coleman cln sees qtr charge coleman said expects first quarter charge against earnings mln dlrs cts share result its voluntary program replace condensing heat exchangers its early model series high efficiency residential gas furnaces the company said extensive testing indicates problem found the furnaces not safety related coleman said noted increasing number heat exchangers certain furnaces made from march through december were returned because corrosion reuter 
acq	philadelphia suburban psc buys software firm philadelphia suburban corp said acquired mentor systems inc lexington computer software company for common stock detailed terms were not disclosed mentor specializes public sector accounting systems has employees its lexington facility four branch offices the midwest and one new york reuter 
earn	pacific gas said accounting change will reduce net mln dlrs 
earn	tribune swab fox cos inc tsfc qtr loss shr loss cts nil net loss profit year shr loss cts profit five cts net loss profit note earnings restated for discontinued operations per share results reflect payment preferred dividends company did not release revenues reuter 
earn	barringer resources inc barr year end dec shr profit cts loss cts net profit loss revs note net includes dlrs cts share for gain cancellation long term debt through debenture offer reuter 
earn	concord fabrics inc cis qtr oper net ended march one oper shr cts cts oper net revs mln mln six mths oper shr cts cts oper net revs mln mln note excludes net gain dlrs cts shr current qtr and six mths from disposal discontinued operations year ago excludes loss dlrs three cts qtr and dlrs seven cts six mths from discontinued operations reuter 
earn	quote inc pcqt year loss shr loss cts loss cts net loss loss sales reuter 
earn	executive house inc year loss shr loss cts loss six cts net loss loss revs reuter 
earn	lori corp lrc qtr oper net loss oper shr loss cts loss cts oper net loss loss revs mln mln year oper shr profit cts profit cts oper net profit profit revs mln mln note qtr and year oper net excludes loss dlrs for discontinued operations and gain dlrs and dlrs respecitvely for extraordinary item qtr and year oper net excludes loss dlrs and about dlrs respectively for discontinued operations and loss dlrs and gain dlrs respectively for extraordinary item reuter 
earn	otf equities inc otfe qtr net shr profit cts loss cts net profit loss revs mln mln year shr profit cts loss cts net profit loss revs mln mln avg shrs reuter 
earn	dome petroleum ltd year oper shr loss dlrs loss two cts 
earn	salem corp sbs qtr loss shr loss dlrs loss cts net loss loss revs mln mln year shr loss dlrs profit seven cts net loss profit revs mln mln note includes loss mln dlrs cts shr from asset writedowns and cost reductions reuter 
earn	consumers power sees one time qtr loss seven cts shr from suit 
earn	dome petroleum takes writedowns totalling billion dlrs 
earn	dome petroleum ltd dmp year loss shr loss dlrs loss two cts net loss billion profit mln revs billion billion note shr and net include writedowns totalling billion dlrs before reduction deferred income taxes mln dlrs net also includes mln dlrs accumulated foreign exchange losses canadian funds note continued shr after preferred dividends reuter 
acq	holder communications hold buy five firms holder communications corp said agreed buy five privately held companies with combined revenues expected about mln dlrs holder plans issue mln common shares buy the nashville based companies all which are owned jack norman and joe shaw their families and employees the companies include radio stations wkxc and wwkz which operate the new albany tupelo miss market and general masonry inc contractor the southeast the acquisitions are subject approval holder shareholders and the federal communications commission reuter 
earn	chelsea chd sees lower qtr net chelsea industries inc said earnings for its fiscal second quarter ended march will sharply lower than the dlrs cts share earned for the same quarter last year also said lowered its earnings forecasts for the remainder the fiscal year fiscal the company earned dlrs dlrs share the company cited intensely competitive market conditions its polyethelyne trash liner business and startup costs related its acquisition artisan plastic for the reduced earnings outlook reuter 
earn	dome pete dmp takes billion dlr writedown dome petroleum ltd earlier reporting billion dlr loss compared year earlier profit mln dlrs said the loss was mainly due write downs totalling billion dlrs before reduction deferred income taxes mln dlrs the loss also includes mln dlrs accumulated foreign exchange losses the company said the dramatic drop energy prices early reverses much the progress the company has made the two previous years dome chairman howard macdonald said statement but even net loss this magnitude has very little bearing the day day operations dome chairman macdonald said merely reflects the realistic carrying value the company assets today economic environment and the absolute need for reaching timely agreement with our lenders debt restructuring plan assure the company continued existence added dome now trying reach agreement complex plan for restructuring debt more than billion dlrs dome said charged the mln dlrs accumulated foreign exchange losses current expenses because the uncertainty arising from its proposed restructuring plan normally the expenses would amortized over the remaining period the loans which they apply said dome also said the write downs included fourth quarter reduction the value its oil and gas properties billion dlrs before reduction deferred income taxes mln dlrs the fourth quarter writedown was addition charge mln dlrs certain other assets taken mainly the third quarter dome said the billion dlr fourth quarter charge resulted from year end accounting change made under new full cost accounting guidelines the canadian institute chartered accountants the company said previously determined write down conventional oil and gas properties was not required september under the previous method calculating the limitation oil and gas values dome said the most significant accounting change under the new guidelines using current oil and gas prices calculations instead escalating price forecasts terms dome proposed debt restructuring plan preclude the company from making accurate estimate future financing costs which are used the new accounting calculations said result dome adopted current prices and costs and pct discount factor the calculations which substantially conform with accounting rules prescribed the securities and exchange commission the company said dome said operating income from its crude oil and natural gas segments fell billion dlrs loss billion dlrs from prior year earnings mln dlrs dome said the steep drop crude oil and natural gas operating income was due write downs totalling billion dlrs and lower energy prices that sharply reduced revenue reduced production natural gas and lower utilization dome offshore drilling fleet the beaufort sea also contributed the decline said earnings from its natural gas liquids business fell pct mln dlrs from mln dlrs cash from operations dropped mln dlrs from year ago mln dlrs and unrestricted cash balance declined mln dlrs from mln dlrs dome said crude oil production was maintained prior year levels through new drilling activity and improvements productivity natural gas production fell nine pct result lower domestic and export sales said oil and field natural gas liquids production totalled barrels day compared bpd the prior year natural gas production fell mln cubic feet day from mcf day reuter 
earn	orion capital corp qtr loss shr loss dlrs loss dlrs net loss mln loss mln revs mln mln avg shrs year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln avg shrs note net includes realized capital gains for qtr and mln mln for year net also includes gain termination pension plan for qtr and year and tax loss for qtr includes pretax gain from sale common stock guaranty national corp for year revised estimated calculation workers compensation earned premiums decreased earned premiums mln year ago results restated reflect deconsolidation guaranty national reuter 
earn	avon products avp sees higher earnings avon products inc the diversifed conglomerate that had strong turn around said expects sales and earnings climb higher this year its annual report the company also said expects maintain its current annual two dlr dividend the basis continued upward earnings avon operational earnings rose pct mln dlrs from mln dlrs year earlier and sales rose pct billion dlrs said the dlrs share earned last year was the highest five years but still well below the company all time high dlrs share reuter 
interest	chase manhattan raises prime rate pct from effective today 
earn	pacific gas pcg accounting change cut net pacific gas and electric said expects record mln dlr dlr per share reduction earnings because the company decision change the method used record diablo canyon nuclear power plant revenues the accounting change will not affect the company cash position and the company intends continue paying its dividend the annual rate dlrs per share last year pacific gas reported earnings mln dlrs dlrs per share pacific gas said the accounting change was prompted delays the receipt california public utilities commission decision the company application for rate relief recover the billion dlr cost constructing units one and two the diablo canyon nuclear power project said the commission currently allowing the company recover pct the cost owning and operating the plants result mln dlrs has been accumulating each month deferred non cash account receivable which has been included current income but the accounting change effective january will reflect only cash received through interim rates approved the commission pacific gas and electric said also said the commission now awaiting its public staff division report which will recommend how much the billion dlr investment pacific gas should allowed recover rates the company further stated that confident will receive objective review the facts also said intends seek additional interim rates pacific gas began construction the two nuclear power units after number construction delays unit one went into operation may and unit two went line march last year reuter 
earn	giant food inc gfs qtr feb net shr cts cts net mln mln revs mln mln year shr dlrs vsd dlrs net mln mln revs billion billion note had weeks weeks qtr had weeks weeks reuter 
acq	innovex invx completes purchase lucht innovex inc said has completed the purchase substantially the interest lucht engineering inc that did not already own prior this move innovex owned pct lucht the company said innovex said bought the shares exchanging shares unregistered innovex common stock innovex president thomas haley said the exchange non dilutive and will cause slight increase innovex fully diluted earnings per share during the last half fiscal lucht will continue function unit innovex innovex said reuter 
crude	oil prices said now based futures price energy futures now set the standard for oil pricing said arnold safer president the energy futures group inc consulting firm petroleum futures trading the new york mercantile exchange literally set spot market prices the said adding that some oil products sellers now offer contracts based daily average nymex prices also said that petroleum futures are major market for oil companies well for commodity traders his remarks were made the national petroleum refiners association reuter 
earn	mco resources inc mcr qtr loss shr loss dlrs dlrs net loss mln mln revs mln mln note net includes pretax writedown mln oil and gas properties and mln non cash provision for impairment geothermal property reuter 
earn	linear films lner sees lower fourth qtr net linear films inc said sees lower earnings the fourth quarter ending march compared with year ago due lower profit margins stretch film from price increases polyethelene resin key raw material last year fourth quarter earned dlrs cts share spokesman said the company said raising its stretch film prices six pct april reflect the higher costs polyethelene resin also said sale volume stretch film the fourth quarter was lower than anticipated although has returned normal recent weeks reuter 
earn	auditors qualify mco resources mcr report mco resources inc said its independent auditors have qualified their opinion the company financial statements for which posted net loss mln dlrs dlrs share revenues mln mco said the qualfied opinion related its realization the carrying amount its geothermal property and its ability continue ongoing concern which dependent upon the restructuring the company bank debt and other obligations resolution the uncertainties surrounding its geothermal operations and the success future operations the company said its capital spending for has been virtually eliminated and that additional staff reduction about pct being implemented today reuter 
earn	international lease finance ilfc qtr net shr cts cts net revs mln mln avg shrs primary reuter 
earn	arco arc says net cover dividend payout atlantic richfield oil said expects first quarter net income cover its dividend requirements the quarter the company paid quarterly dividend one dlr share earlier this month reuter 
earn	servotronics svt sets pct stock dividend servotronics inc said declared pct stock dividend payable may shareholders record april the company last declared stock dividend also pct march reuter 
crude	standard oil raises alaska north slope dlrs effective april one 
earn	servotronics inc svt year net oper shr cts cts oper net revs mln mln note oper excludes tax credits reuter 
money-fx	currency futures climb likely checked the surge currency futures since friday the heels the reagan administration proposed tariffs japanese imports likely curtailed the coming week financial analysts said the market taking breather now and would expect last little longer said craig sloane currency analyst with smith barney harris upham and profit taking which robbed the currency futures some momentum today likely continue said central banks are likely play role halting the advance currencies through intervention the analysts said even though the dollar fell year low against the japanese yen monday despite bank japan intervention treasury secretary james baker comments that the nations remain committed the paris accord coupled with his refusal give any targets for exchange rates provided note stability the market tuesday the analysts said furthermore merrill lynch economics analyst david horner said central banks haven yet shown the full force their commitment the paris accord among those who believe the have plan behind the scenes horner said horner said more forceful central bank intervention will firm the dollar and cap the rise currency futures coordinated punishing intervention the central banks contrast the recent rolling intervention which has only smoothed out the market the offing according horner think near the top the range the europeans currencies said the other hand the upside target for the yen which set new contract high today the june contract horner said still other analysts believe currency futures have yet peak the basic trend the currencies higher said anne parker mills currency analyst with shearson lehman brothers inc the market wants take the dollar lower uncertainty over central bank action and nervousness over meeting next week advance meeting the international monetary fund could make for choppy price activity the remainder the week mills said addition although the market shrugged off relatively healthy gains february leading economic indicators and factory orders tuesday economic data could play larger role coming sessions the analysts said friday employment statistics particular will closely watched sloane said adding that forecast rise non farm payroll jobs should underpin the dollar reuter 
earn	poco petroleums ltd qtr jan net shr eight cts cts net revs mln mln reuter 
acq	lilly lly cuts liposome lipo stake eli lilly and told the securities and exchange commission cut its stake liposome inc shares pct the total outstanding common stock from shares pct lilly said sold liposome common shares march eight dlrs each long lilly stake liposome below five pct not required report any further dealings has the company stock reuter 
acq	acceleration acle cuts stake united coasts acceleration corp said sold pct stake the common stock united coasts corp the sheet metal workers national pension fund the company said agreed sell the fund additional pct hartford conn based united when the fund receives approval from the director insurance the state arizona the company said today sale reduced its holdings united pct the second sale when completed will lower its stake pct acceleration said the company said the proceeds from both sales will roughly equal the dlrs originally invested united coasts late even though will retain pct stake acceleration said plans include gains from the stock sales its results for the first and second quarters reuter 
acq	oppenheimer sells six pct cyclops cyl stake oppenheimer the brokerage and investment subsidiary oppenheimer group inc told the securities and exchange commission sold its entire pct stake cyclops corp oppenheimer said sold the share stake march dlrs share said initially bought the stock connection with risk arbitrage and other investment activities the ordinary course its business reuter 
interest	analysts see slow move higher prime rate quarter point prime rate increases pct citibank and chase manhattan bank today will followed other banks only after they see clearer signs the federal reserve policy intentions economists said based the spread between banks cost funds and the prime rate probably makes sense for others follow but rush likely said paul mcculley hutton and citibank surprise base rate increase quickly followed chase sent bond prices lower and the dollar higher mcculley said that once the spread between three month certificates deposit and the prime rate narrows less than percentage points there strong chance prime rate increase has been under points recently however banks are likely hold rate increases until they see what the fed intends about interest rates the near term analysts said they noted that banks historically like follow fed rate movements rather than lead them for example the last prime rate increase occurred june when banks lifted the rate pct from pct after fed discount rate increase april that year major banks had been posting pct prime rate since last august when they lowered the rate from eight pct shortly after the fed half point discount rate cut the current pct level august the banks will not rush raise their prime rates there should split prime for while with some posting pct rate and others pct said david jones aubrey lanston and jones said the federal open market committee today meeting voted change fed policy but said the fed may well foster higher interest rates soon jones said that while the fomc probably voted policy change today may have decided apply slight upward rate pressure later the dollar weakens inflation pressures heat the economy shows sign strong recovery the fed clearly indicated that they did not intend tighten policy when they did today coupon pass said joseph liro warburg and move that came day earlier than most expected the fed today supplied permanent reserves the banking system offering buy all maturities treasury notes and bonds for its own account this seasonal reserve add called pass the fed demonstrated that there has been policy change said elizabeth reiners economist dean witter reynolds inc she said the spread between banks cost funds and the prime rate now around basis points compared with basis point average reiners said the spread not really narrow enough present clear need for prime rate increase the dean witter economist said that today prime rate rise may have been less response interest rates than attempt enhance the balance sheet bottom line reiners said that given recent problems with loans developing countries large money center banks with heavy exposures might the first match the higher prime rate effort get more profitable spreads other loans the federal funds rate which banks lend overnight money one another could help determine how many banks match the higher prime rate and also how quickly they move raising their prime rates banks cited higher cost funds the three business days through monday the federal funds rate which banks lend one another averaged nearly pct but quarter end pressures helped push funds the fed funds rate was extremely volatile today reflecting demand pressure associated with the end the quarter and the close the japanese fiscal year funds traded between five and pct once the special distortions end analysts said the funds rate probably will return its recent trading level the pct area they said that stabilizes near there banks may not quickly boost their prime rates but consistently higher funds rates would suggest many that the fed was fostering somewhat higher interest rates help the dollar then banks would lift prime rates quickly reuter 
acq	tisch brothers lower tosco tos stake investment partnership led four sons loews corp ltr chairman lawrence tisch said cut its tosco corp stake the equivalent shares pct the total from shares pct filing with the securities and exchange commission the partnership flf associates said sold shares serier convertible preferred stock march for dlrs each and shares preferred stock march dlrs each the sales leave the tisch brothers with shares preferred stock which can converted into shares common stock reuter 
earn	nature bounty inc nbty year loss shr loss cts loss cts net loss loss revs mln mln reuter 
acq	cominco clt sells stake canada metal cominco ltd said sold its pct stake canada metal ltd canada metal senior management for undisclosed sum cominco said the sale was part its previously announced policy divesting non core businesses canada metal toronto based producer lead alloys and engineered lead products canada metal production figures were not immediately available reuter 
earn	auditors give first city fbt qualified opinion first city bancorp texas which lost record mln dlrs said its annual report expected operating losses continue for the foreseeable future continues search for additional capital merger partner the houston based bank financial statements received qualified opinion from its auditors arthur andersen and the auditors said their opinion was subject first city eventually obtaining additional capital the company believes that order address its long term needs and return satisfactory level operations will ultimately need several hundred million dollars additional capital combination with more strongly capitalized entity first city said note its financial statements included the annual report management believes that sufficient resources should available cover interim capital concerns while additional capital being sought the bank said raise cash the near term first city said may sell mortgage non strategic assets recover excess contributions its pension plan and obtain special dividends from some its member banks the losses for are expected substantially less than first city chairman elkins said letter included the annual report however the ultimate return satisfactory operating conditions dependent the successful resolution the related problems credit quality funding and the eventual need for substantial additional capital first city said anticipated that certain covenants credit agreement with unaffiliated banks requiring most first city excess cash applied debt repayments would modified the end the first quarter order avoid default the banks agreed similar amendments the covenants last year and first city has reduced its borrowings from mln dlrs yearend mln dlrs recent weeks although the parent company capital adequacy ratios exceeded regulatory minimum requirements the end first city said its two largest subsidiaries did not first city national bank houston had primary capital ratio pct and first city bank dallas had pct ratio hard hit the collapse oil and texas real estate prices first city net loan chargeoffs totaled mln dlrs last year from mln dlrs the bank more than doubled its loan loss provision mln dlrs the end first city said chargeoffs and paydowns reduced its total energy loan portfolio pct during billion dlrs year end adding that future energy chargeoffs should more modest the amount represented pct first city total loans real estate first city said its nonperforming assets nearly doubled last year mln dlrs year end chargeoffs real estate loans rose mln dlrs nine pct total loan chargeoffs and the bank said the amount could higher the company still faces uncertainties the real estate market and anticipates further deterioration the pportfolio long the regional recession persists first city said because the carrying value many these loans collateral dependent further decline the overall value the collateral base could cause increase the level real estate related chargeoffs reuter 
money-fx	fed explores commodity basket index the complex task wielding control over monetary policy increasingly fast moving global economy could aided tying policy commodity prices the newest member the federal reserve board says commodity prices are already considered the fed the making monetary policy but they would given much greater role under idea being floated governor robert heller who joined the board last august conceeds that much more study the idea needed but argues that such arrangement particularly were adopted other major industrial countries could reduce the volatility exchange rates moreover could help stabilize the prices commodities themselves slowing changes inflation his idea which many conservative economists find appealing has some backing among board members appointed recent years president reagan would complement the present system opening closing the monetary screws based the pattern inflation key indicators such unemployment and the rise fall the money supply changes the money supply can lead changes interest rates and affect economic activity directly discussed and off for long time the commodity concept part growing search for system that anchors monetary policy and widely fluxtuating currency prices more solid base what needed anchor reference point that can serve guide for both domestic and international monetary purposes says heller the past this anchor was gold but the united states went off the gold standard because the global economy had vastly outstripped gold supplies return the gold standard generally dismissed out hand most policymakers the grounds that the largest producers gold are the soviet union and south africa the called fixed rate system scuttled the early still considered unworkable the present world but the current system floating currencies which currencies can fluxtuate widely adding vast pressures the monetary system also being widely questioned some have suggested that the system might benefit from formal approach that mandates intervention countries when currencies wander above below agreed levels but there are major problems with this also for one thing there justifiable concern that countries might relunctant intervene they felt might detrimental their own domestic economy moreover some question whether concerted intervention can make much inpact the overall market does not agree with the fundamental judgement the poorest countries have called for monetary conference work out new system that not surprisingly helps them cope with their overpowering debt problems treasury secretary james baker the reagan administration chief economic architect has preferred use the called group five industrial countries sometimes seven forum work out cooperative agreements currency and other economic matters appears convinced that officials from west germany france britain japan italy and canada talking quietly behind closed doors can reached reasoned decisions away from public posturing the heller approach while extremely complex could have profound impact the system ideally stabalizing prices and international exchange rates envisioned heller basket say major commodities ranging from wheat oil would put together and prices would measured regular basis times rising commodity prices monetary policy might tightened and times falling commodity prices montary policy might eased says notes that commodity prices are traded daily auction markets and commodity price index can calculated virtually continuous basis moreover most commodity prices are produced consumed and traded world wide basis that index has relevance for the entire world says addition commodity prices are the beginning the production chain and serve imput into virtually all production processes focusing commodity prices early and sensitive indicator current and perhaps also future prices pressures the monetary authorities may take such index into account making their monetary policy decisions says however says that any major change basic commodity such occurred oil during the because action the opec cartel would have discounted such system says the worst thing that could happen allow monetary policy spread freakish increase one commodity the rest the system and other commodities reuter 
earn	microbiological sciences inc mbls qtr loss oper shr loss cts profit nine cts oper net loss profit revs year oper shr loss two cts profit four cts oper net loss profit revs mln mln note oper excludes extraordinary gains for qtr and year reuter 
acq	investor group cuts dba systems dbas stake group led new york investors david bellet and chester siuda said lowered its stake dba systems inc shares pct the total outstanding from shares pct filing with the securities and exchange commission the group said sold dba common shares between feb and march prices ranging from dlrs share long the group stake dba below five pct longer required report its further dealings the company common stock reuter 
earn	lowell institution for savings lifs qtly div qtly div cts cts prior pay may record april reuter 
earn	earthworm tractor inc worm year loss oper shr loss cts profit two cts oper net loss profit revs mln mln note oper includes accrued interest from financing capital goods transaction with prudential bache trade corp year ago oper excludes extraordinary gain reuter 
acq	emery air freight corp offer dlrs shr for purolator courier corp 
acq	emery air eaf bid for purolator pcc emery air freight corp said plans begin tomorrow dlr share tender offer for pct the outstanding common stock purolator courier corp the company said the tender offer the first step plan buy pct the purolator shares following the tender offer emery said would offer dlrs junior subordinated debentures for each remaining purolator share outstanding march one purolator agreed dlr share leveraged buyout eight purolator executives and hutton lbo inc unit hutton group inc emery said had tried unsuccessfully open merger discussions with purolator before the company accepted the management led buyout offer letter purolator chairman nicholas brady emery chairman john emery said the company would still prefer negotiate with purolator but said the imminent expiration the leveraged buyout group offer has forced the company make unsolicited tender offer its own emery said its offer scheduled expire est april unless extended the company said conditions the offer include the receipt least two thirds purolator shares outstanding fully diluted basis and the repeal its share purchase rights plan emery said the offer also subject completion the previously announced sale purolator canadian operations emery said chemical bank bankers trust morgan guaranty trust and salomon bros had agreed provide financing for the tender offer said the junior subordinated debentures issued the subsequent merger will carry pct annual interest rate payable twice year for the first three years after the notes are issued interest will paid emery option cash additional notes emery said added that the notes will not subject redemption for one year after they are issued emery said purolator would operate wholly owned unit the company after the merger said hoped purolator management would continue with the company believe that our two companies provide excellent fit with each other and that the combination will enable each better serve our existing customers and meet the challenges the future emery chairman said his letter said merger would significantly enhance the financial turnaround that purolator management had previously forecast officials purolator could not immediately reached for comment the offer which was released several hours after the stock market had closed emery stock closed purolator closed off reuter 
grain	economic spotlight china must preserve farmland using farmland have done since there will none left years grow grain jinfeng middle aged official fengbang village the edge shanghai sums the dilemma china faces tries feed its more than one billion people and the same time let them get richer building factories and new homes china has feed one quarter the world population but only one seventh its land arable sharp increases farm output since turned china into net grain exporter for the first time and again but the rapid industrialisation the countryside which has occurred the same time has gobbled arable land for factories and homes for peasants who can now afford them official figures show that china lost just under one pct its arable land other uses and slightly smaller amount last year gained mln new mouths feed during the two years lost very little land prior when the industrialisation began official said since then nearly all the families the county have built new homes and many factories have gone last year lost land new railway line said but land losses future should fall because nearly all families already have new houses she added the issue land loss matter major concern the peking leadership which announced earlier this month that china will issue nationwide quotas for conversion grain land for the first time this year the present situation abusing occupying unlawfully wasting and destroying land and land resources serious said article the official press explaining the new measures has resulted great losses cultivated farmland said china has large population and its land resources are badly deficient official the shanghai city government said county authorities could approve conversion only hectares arable land other uses while anything more than that must approved the city government the peking government faces another major obstacle its efforts ensure china people get enough grain eat the prices the state pays farmers for grain are too low making more profitable for them grow other crops offset this the state offers farmers cheap fertiliser and diesel oil and payment advance for grain contracts buy the state then sells the grain subsidised prices china mln city residents rural factories also subsidise grain output paying farmers bonuses grow some officials argue that the simplest solution the problem would for the state raise city grain prices chen zuyuan communist party secretary village the eastern province zhejiang said the government listened too much the demands selfish city people and could raise city grain prices without any problem but the government has ruled out price rise raising the price grain would directly conflict with the goal social stability said china daily editorial this month the shanghai official said prices must reformed over the long term must very careful have very large population which used price stability and will object price rises said the problem how the shanghai official said rise grain prices might also affect the prices hundreds food products made with grain and consumed city residents addition the state faces the problem inadequate investment farmers land and grain particular the official press has reported that farmers fear farm policy may change and they are putting their new wealth into building graves memorial halls for ancestors and homes under reforms introduced the late farmers sign contracts with the state requiring them grow certain crops but they have considerable freedom how use their land the expiration date the year contract almost the halfway mark farmers are beginning worry about the future the china daily said editorial last month their anxieties stem from the fact that they are allowed use the land but not own for most the period communist rule the land was organised into collectives where there was little room for individual initiative new measures are needed reassure them the consistency government policies and make them interested long term investment the newspaper said reuter 
trade	taiwan second quarter imports seen rising taiwan imports the second quarter are expected rise billion dlrs from billion year earlier and from billion the first quarter this year the statistics department said department official attributed the increase growing domestic investment the private and public sectors expected rise billion dlrs from billion year earlier and billion during the first quarter taiwan exports the april june quarter are expected rise billion dlrs from billion year earlier and billion the first quarter the official said taiwan trade surplus expected climb billion dlrs the second quarter from billion year earlier was billion the first quarter this year most the surplus expected come from trade with the taiwan largest trading partner and importer nearly pct taiwan total exports said said expected taiwan imports including grains machinery and power plant equipment from the rise sharply because government efforts balance trade with washington declined give figures reuter 
earn	commerzbank sees lower operating profit this year commerzbank cbkg management board chairman walter seipp said that from the present viewpoint the bank must expect full operating profit lower than the first two months the year partial operating profit excluding trading the bank own account declined said without giving details the interest surplus fell pct compared with ths results while the commission surplus because the quiet stock exchange business fell back still more strongly contrast the personnel and fixed asset expenses increased german banks not report full operating profit but seipp said last year the figure for the first time had topped one billion marks for the parent bank and the group result was around pct higher than this commenting seipp said were able raise the full operating profit slightly above the record result because own account profits increased slightly gave concrete details but added that january and february good own account trading profits meant that the drop full operating earnings was more modest than that the partial operating figure the bank would result more profit oriented future developing for example more into investment banking keeping tight rein personnel costs and dampening expenditures fixed assets turning results seipp said year end there had been strong growth business volume over the year business volume rose pct billion marks compared with seipp added group balance sheet volume rose pct billion would have been around five billion marks higher still currency relationships had remained unchanged the parent bank the interest surplus rose nine pct the year while the interest margin held roughly pct despite pressure credit rates the surplus commission business which had soared quarter rose pct last year thanks almost exclusively growth securities commissions seipp said personnel expenditure was pct last year more than billion marks fixed asset expenditure rose pct more than mln result the parent bank partial operating profit rose pct mln marks parent bank tax payment rose mln marks last year from mln seipp said extraordinary earnings included high two figure million profit from the sale the bank aeg aegg shares daimler benz daig during the latter majority stake purchase booked last year the ability the bank write off depreciations credit business against profits from securities trading and earnings the sale stakes had been utilised prior years its full extent because numerous insolvencies home far the largest part the provisions were set aside for individual write downs from domestic business abroad the circle problem debtor countries rose last year although the ratio credit exposure provisions improved further seipp said that because about half the group exposure problem nations was dollars the bank had swapped into dollars individual provisions hitherto held primarily marks this means that open currency positions exist any longer the amount the provision that made against actual default added despite the increase concern over debtor nations the last few weeks said the international banking community better armed than was against payment problems all banks had significantly strengthened their capital base most european banks had made considerable provisions against bad debts while goverments and central banks were better prepared for unforseen difficulties described debt equity swaps very interesting new approach indebted nations problems there was lot interest direct investment via equity participation latin america particularly from west german firms reuter 
earn	skylark ltd sklk year group shr yen net billion billion current billion billion operating billion billion sales billion billion note company forecast for current year group shr yen net billion current billion and sales billion reuter 
acq	sweden boliden announce major corporate takeover today official 
acq	court blocks delta western airlines merger appeals court last night blocked the mln dlr merger delta airlines inc dal and western airlines just hours before was into effect because dispute over union representation the ruling came lawsuit which the air transport employees union said western management should fulfil promise honour union contracts merger took place the airlines argued that western promise could not enforced takeover larger company airlines officials could not reached for comment the ruling which halts the merger until arbitration the dispute completed reuter 
acq	boliden announce major corporate takeover official boliden blds mining and metals group said will announce major foreign corporate takeover today involving company with annual turnover two billion crowns boliden spokesman told reuters details the announcement would given news conference chairman rune andersson gmt today said the company involved employed people but declined name the takeover price say what field the firm operated share analysts said they expected boliden announce will taking over the allis chalmers corp but company officials refused confirm the reports ahead the news conference reuter 
money-fx	money market offered early assistance the bank england said had invited early round bill offers from the discount houses after forecasting shortage around billion stg the money market today among the main factors affecting liquidity bills for repurchase the market will drain some mln stg while bills maturing official hands and the take treasury bills will remove around billion stg rise note circulation will take out further mln stg partly offsetting these outflows exchequer transactions will add around billion stg and bankers balances above target some mln stg reuter 
money-fx	money market given mln stg early help the bank england said had provided the money market with early assistance mln stg response early round bill offers from the discount houses this compares with the bank estimate that the system would face shortage around billion stg today the central bank made outright purchases bank bills comprising mln stg band one pct mln stg band two pct and mln stg band three pct reuter 
earn	groupe bruxelles lambert profit net consolidated profit after deduction for minorities billion francs billion non consolidated net profit billion francs billion note results for year company full name groupe bruxelles lambert lamb proposed net final dividend ordinary shares francs take total net payment for year francs reuter 
acq	ajinomoto buy out joint food venture partner ajinomoto inc ajin said will sign around end april buy the pct knorr foods ltd capitalised four billion yen that does not already own from its partner cpc international inc ajinomoto will also acquire pct each cpc two sales subsidiaries and six production units hong kong the philippines singapore malaysia taiwan and thailand said the total cost the acquisition mln dlrs the spokesman said reuter 
acq	merger clearances the secretary state for trade and industry said had decided not refer the proposed acquisition reed international plc reed technical publishing company inc the monopolies and mergers commission the proposed acquisition rosehaugh plc the general funds investment trust plc was also cleared reuter 
interest	banks raise prime rates soon dealers say banks hong kong are likely raise prime rates half percentage point pct following one quarter point prime rate increase two major banks yesterday dealers said they told reuters local banks may decide the increase this weekend routine meeting the hong kong association banks goh chief dealer the standard chartered bank said prime rate increases citibank and chase manhattan bank pct from may prompt hong kong banks follow suit goh said local banks want restore the prime pct the level beginning the banks raised the prime the current six pct from five pct february after cutting points from january response upside pressure the hong kong dollar said the medium and longer term interbank rates firmed today with three months ending pct against yesterday five close the overnight rate however fell three pct from four because increased liquidity for local stock issue reuter 
acq	sweden boliden takes over allis chalmers corp for mln crowns official 
acq	mitsubishi heavy itoh sell triguna stakes mitsubishi heavy industries ltd mith mhi and itoh and ltd citt have decided sell their combined pct stake indonesia triguna utama machinery industries caterpillar tractor spokesmen for the two japanese companies said triguna set owned pct mhi and pct itoh and pct indonesian company makes about forklift trucks and similar number excavators each month technological cooperation with mhi the spokesmen said the sale results from expected restructuring later this year the caterpillar mhi joint venture japanese company caterpillar mitsubishi ltd formed they said the venture will renamed shin caterpillar mitsubishi ltd and capitalised billion yen will still owned equally mhi and caterpillar and will set with the aim centralising mhi excavator business reuter 
acq	sweden boliden takes over mining gear units allis chalmers corp for mln crowns 
acq	boliden takes over allis chalmers division swedish mining and metals group boliden blds said would buy the mining equipment operations the allis chalmers corp amounting more than pct group sales for mln crowns boliden president kjell nilsson told news conference the acquisition the allis chalmers unit which described the world leading producer equipment for the mineral processing industry would yield positive synergy effects for boliden mining metals and engineering operations nilsson said the takeover also will provide opportunities cooperate with the mining and materials handling operations boliden parent company trelleborg said allis chalmers was selling out because needed new cash after suffering big losses its farm equipment operation the deal subject approval allis chalmers annual meeting company officials said reuter 
interest	indian rate cuts spark industry agriculture the indian finance ministry announcement parliament yesterday changing the nation interest rate structure will benefit industry and agriculture providing loans lower interest bankers and brokers said the changes effective today included reducing commercial bank lending rates that have ranged between pct and pct one percentage point new rates which affect both indian and foreign banks also include one percentage point gain annual pct deposits two years more but less than five bank deposits five years more carrying pct interest have been abolished bankers said the interest rate modifications reflect the government concern reduce the costs borrowing and help improve world competitiveness indian goods there likely shift short term bank deposits long term depositors bankers predicted this will create the flexibility draw and invest funds either equity shares short term bank deposits they said merchant banker also said reduced manufacturing costs due lower lending rates are likely boost the share market tata steel trend setter the bombay stock exchange opened today higher rupees against yesterday closing rupees stockbroker said investors may less enthusiastic now buy convertible and non convertible debentures because the finance ministry has reduced the annual interest rate pct and pct respectively from and pct respectively but overall debenture prospects remain bright because the rates interest them will still higher than what banks pay for deposits similar maturity merchant banker said reuter 
money-fx	money market shortage forecast revised the bank england said had revised its estimate the shortage the money market billion stg from billion before taking account its early operations the bank has provided mln stg assistance far today reuter 
acq	internatio mueller acquires canadian company internatio mueller intn said will acquire promac controls inc canada but declined comment the amount the payment which will cash promac which produces measurement and regulating equipment has work force and had turnover five mln guilders internatio spokesman said said the takeover fits into the company drive for expansion the and canada and further acquisitions are possible promac controls will part internatio electrotechnical sector reuter 
acq	hoogovens concludes takeover philips cirex unit dutch steel concern hoogovens groep said had reached agreement with philips gloeielampenfabrieken pglo its takeover cirex specialised philips precision wax moulding unit neither party would reveal financial details the deal initially announced october hoogovens said cirex turnover had grown recent years mln guilders and expected further expansion the unit delivers mainly the car industry hoogovens said the acquisition would strengthen its position supplier industry high value metal products reuter 
acq	boliden takes over allis chalmers division swedish mining and metals group boliden said would buy the mining equipment operations the allis chalmers corp amounting more than pct group sales for mln crowns boliden president kjell nilsson told news conference the acquisition the allis chalmers unit which described the world leading producer equipment for the mineral processing industry would yield positive synergy effects for boliden mining metals and engineering operations nilsson said the takeover will provide opportunities cooperate with the mining and materials handling operations boliden parent company trelleborg said allis chalmers was selling out because needed new cash after suffering big losses its farm equipment operation the deal subject approval allis chalmers annual meeting company officials said reuter 
acq	bond corp completes consolidated press purchase bond corp holdings ltd bona said has completed the billion dlr purchase the electronic media interests unlisted consolidated press holdings ltd the new company bond media ltd now holds the television broadcasting and associated businesses previously held kerry packer consolidated bond corp said statement packer who made the sale january will director bond media previously reported bond media will publicly floated with rights issue bond corp shareholders bond media will pct owned bond corp and expected listed the end may said reuter 
interest	banks raise prime rates soon dealers say banks hong kong are likely raise prime rates half percentage point pct following one quarter point prime rate increase two major banks yesterday dealers said they told reuters local banks may decide the increase this weekend routine meeting the hong kong association banks goh chief dealer the standard chartered bank said prime rate increases citibank and chase manhattan bank pct from may prompt hong kong banks follow suit goh said local banks want restore the prime pct the level beginning the banks raised the prime the current six pct from five pct february after cutting points from january response upside pressure the hong kong dollar said the medium and longer term interbank rates firmed today with three months ending pct against yesterday five close the overnight rate however fell three pct from four because increased liquidity for local stock issue reuter 
earn	guardian royal profit sharply mln stg year dec shr profit loss final div making total pretax profit mln stg mln general underwriting loss short term business note company full name guardian royal assuance plc grex underwriting profit long term insurance business mln stg mln loss discontinued international professional indemnity business nil mln stg investment income mln stg mln less interest payable mln stg mln tax mln stg mln minorities mln stg mln extraordinary item contingency claims provisions discontinued international business nil mln stg reuter 
acq	swedish match sells portuguese unit swedish match smbs said was selling one its portuguese subsidiaries sociedade iniciativa aproveitamentos florestais sarl siaf the porto based sonae group for undisclosed price siaf subsidiary swedish match since had turnover last year mln crowns the swedish group said statement reuter 
earn	sun life assurance profit year div making profit after tax mln stg mln tax mln stg mln bonus distribution rose new record level mln stg mln full name company sun life assurance society plc sull reuter 
earn	sun alliance pretax profit mln stg mln for 
interest	lower interest rates seen following irish budget financial markets welcomed public spending cuts announced ireland new minority government its budget saying the move would lead lower interest rates finance minister ray macsharry making cuts across the board reduced the exchequer borrowing requirement billion punts pct gnp compared with billion punts pct gnp last year allied irish banks foreign exchange dealer john kearney commented would see interest rates coming down two pct the next three months reuter 
earn	sun alliance reports sharp profit rise year shr div making pretax profit mln stg mln net after tax mln mln minorities mln mln general premium income billion stg billion long term premium income mln mln general insurance underwritng loss mln mln long term insurance profits mln mln investment and other income mln mln company full name sun alliance and london insurance plc sunl 
acq	boliden says now leader mining gear swedish mining and metals group boliden blds said the takeover the allis chalmers corp mining machinery division made the world leading maker such equipment president kjell nilsson announcing the mln crown deal told news conference boliden would now become truly international concern with operations brazil chile and other big minerals producing nations said the allis chalmers division accounting for some pct the group sales would fit well into boliden reuter 
interest	credit market outlook prime rate the prospect that other banks will follow industry leaders citibank and chase manhattan raising their prime rate likely cast pall over the credit markets today economists said bond prices had been making smart recovery from two days heavy selling when citibank surprised the market announcing quarter point increase its prime rate pct chase manhattan quickly followed prices quickly fell full point even though the dollar the market overriding concern late rose sharply the news citibank cited the higher cost money especially the euromarket the reason for raising its prime rate part this rise market rates has been caused fears tighter federal reserve policy defend the dollar but economists said too early tell whether the fed whose policy making federal open market committee fomc meets this week already tightening its grip credit the fed seems have been bit slow meeting the banking system reserve needs this statement period but wouldn conclude anything until seen the fed data said jeffrey leeds chemical bank reuter 
grain	cereals mcas unchanged next week monetary compensatory amounts mca will unchanged for the week starting april commission officials said cereals mca are plus points for west germany and the netherlands minus two points for denmark minus eight points for france minus nine for ireland minus for italy minus for britain minus for greece and minus for spain reuter 
acq	supreme court allows delta western merger supreme court justice sandra day connor early this morning lifted appeals court injunction blocking the planned merger delta dal airlines inc and western airlines wal the court said connor action came hours after three judge panel the circuit court appeals san francisco had blocked the merger until dispute over union representation had been settled arbitration supreme court spokesman said connor granted stay the injuction allowing the merger worth nearly mln dlrs through planned later today the supreme court spokesman provided other details each the nine supreme court justices has jurisdiction over particular regional appellate circuit and has the power provisionally overturn its rulings without comment the appeals court ruling surprised officials atlanta based delta which had been preparing for the merger for months and had already painted delta logos airplanes belonging western which has headquartera los angeles our plans were finalize the merger midnight tonight delta spokesman bill berry told the atlanta constitution late last night there was really very little that remained done the ruling san francisco came lawsuit that had been filed los angeles federal court which the air transport employees union sought force western management fulfill promise that would honor union contracts merger took place the airlines argued that western promise could not enforced takeover larger company after learning the appeals court ruling delta officials last night spread the word telephone that western employees should report for work today their old uniforms not new delta outfits delta announced last september that was purchasing western the merger took place december and western has been operated delta subsidiary since then the western name was have disappeared midnight last night issue whether the western unions would continue represent western employees after the integration the two airlines while all but eight pct western employees are unionized only delta pilots are union members delta had maintained that the three unions having contracts with western the association flight attendants and the teamsters well the air transport employees would extinguished after today reuter 
money-fx	money market deficit revised downwards the bank england said has revised its estimate today shortfall around billion stg from billion before taking account mln stg morning assistance reuter 
acq	citadel cdl settles with great western gwf citadel holding corp said has settled its litigation with great western financial corp the company said under the terms great western has agreed not acquire seek acquire any voting securities citadel propose merger with citadel for five years and citadel has paid great western six mln dlrs citadel said continuing pursue its claims against salomon inc which represented connection with the disputed proposed merger with great western that was the subject the litigation reuter 
acq	sosnoff ends deal with pratt southmark possible venture for caesars bid 
acq	starts bid for standard oil srd shares british petroleum plc said has started its previously announced billion dlr offer purchase the pct interest standard oil that does not already own for dlrs per share newspaper advertisement the company said the offer which not conditioned receipt any minimum number shares and associated withdrawal rights will expire april unless extended said asking standard oil for the use its shareholder list disseminating the offer which the standard board has not yet taken position reuter 
acq	visual technology vsalc control changes visual technology inc said group led hambrecht and quist group has acquired majority ownership visual for dlrs equity financing the company said hambrecht and quist president william hambrecht and three other hambrecht and quist representatives have been named the visual board with robert morrill managing partner the boston office hambrecht hambrecht and quist venture partners unit named chairman clifford zimmer remains president and chief executive officer visual also said about nine mln dlrs its debt has been converted equity reuter 
acq	cpc international sell stakes asian units for mln dlrs ajinomoto 
earn	careplus inc cpls qtr net shr loss nil profit nil net loss profit revs pct year shr profit four cts profit five cts net profit profit revs mln mln avg shrs mln note year net includes tax credits dlrs dlrs net both periods includes charge dlrs from settlement overtime wage dispute and addition provision for uncollectible accounts reuter 
earn	john adams life corp jalc qtr loss oper shr loss cts profit cts oper net loss profit revs avg shrs year oper shr profit nil profit dlrs oper net profit profit revs mln mln avg shrs note net excludes realized investment gains dlrs dlrs quarter and dlrs dlrs year net both periods excludes dlr extraordinary gain reuter 
earn	tempo enterprises inc tpo year net shr cts cts net revs mln mln reuter 
earn	peoples ban corp peop sees quarter net peoples ban corp said expects report first quarter earnings over six mln dlrs including gain dlrs from the settlement dispute with the internal revenue service and the sale four banking offices vancouver wash the company said expects report normal earnings for the rest ofd the year five mln dlrs per quarter peoples earned dlrs last year first quarter and all lost dlrs reuter 
earn	maxxam group inc mxm qtr loss shr loss dlrs loss cts net loss mln loss revs mln mln year shr loss dlrs loss cts net loss mln loss revs mln mln note net includes tax credits dlrs quarter and mln dlrs year results include pct stake pacific lumber from december through february and pct thereafter reuter 
acq	sosnoff ends pratt prat southmark deal investor martin sosnoff said southmark corp and affiliate pratt hotels corp have ended talks with his mts acquisition corp possible joint venture for the acquisition caesars world inc sosnoff said the talks had not been actively pursued since they were announced march but had been agreed that unless the discussions were formally terminated pratt and southmark would not initiate competing tender offer for caesars world take any other action that would hamper sosnoff current offer acquire all caesars shares does not now own for dlrs each sosnoff said his dlr per share bid for caesars which scheduled expire may still stands and remains receptive negotiating transaction buy caesars friendly terms pratt recently made apparently unsuccessful bid acquire control resorts international inc rtb seeming lose out donald trump reuter 
acq	cpc international cpc sell asian stakes cpc international inc said said has agreed principle sell interests its grocery products operations hong kong malaysia the philippines singapore taiwan and thailand ajinomoto inc japan for mln dlrs the company said the move will reduce asian overhead and substantial part the proceeds will used reduce debt said part the agreement its current direct investment its existing non consolidated joint venture with ajinomoto will converted into cooperative arrangement for the long term utilization technology and trademarks the company said the change the japanese arrangement will give ajinomoto full equity ownership while leaving cpc continuing earnings stream and cash flow the transactions are subject definitive agreements and government approvals cpc said not included the mln dlr consideration are proceeds from the sale some smaller asian investments including pct equity interest oat based food venture australian partner the company said the actions being taken under its restructuring program including the sale its european corn wet milling business and other assets overhead reductions and other expense items and the asian transactions will have one time positive effect earnings cpc said although the extent cannot yet determined the company expects that earnings per share will increase substantially more than the previously estimated pct increase over cpc earned dlrs per share reuter 
acq	energy development edp completes may mep buy energy development partners ltd said has completed the acquisition may energy partners ltd for depositary units following approval yesterday may energy unitholders energy development said may petroleum inc mayp general partner may energy will distribute about energy development units for each may energy partners units holders may energy partnners units more and cash others energy development said the transaction increases its units outstanding mln and raises total proved reserves the end pct angeles corp ang general partner energy development reuter 
acq	schering plough sgp mulls scholl sale schering plough corp said considering the sale its scholl businesses europe latin america and the far east which had sales about mln dlrs the company said the transaction not expected have material impact earnings said has engaged merrill lynch and inc mer assist the sale process schering said will retain scholl businesses the canada and puerto rico which had sales about mln dlrs last year reuter 
earn	family dollar stores inc fdo qtr feb shr cts cts net sales mln mln avg shares mln mln first half shr cts cts net mln mln sales mln mln avg shrs mln mln reuter 
earn	mco holdings inc mco qtr loss oper shr loss dlrs loss dlrs oper net loss mln loss mln revs mln mln year oper shr loss dlrs loss dlrs doper net loss mln loss mln revs mln mln note operating losses exclude profits mln dlrs dlrs share quarter and mln dlrs dlrs share year from discontinued operations loss both periods includes pre tax charge mln dlrs write down oil properties year loss includes pre tax charge mln dlrs for write down oil and gas properties reuter 
interest	bundesbank will not hold press conference tomorrow the bundesbank will not hold press conference after its regular fortnightly council meeting tomorrow spokesman said answer enquiries bundesbank vice president helmut schlesinger will chair the meeting president karl otto poehl has private engagement the next meeting scheduled for april reuter 
interest	manufacturers hanover raises prime rate pct from effective today 
earn	ransburg corp rbg qtr feb loss oper shr loss cts profit one oper net loss profit revs mln mln note earnings exclude gains from utilization tax loss carryforwards dlrs one share dlrs three cts share reuter 
acq	conrac corp rejects mark industries tender offer explores alternatives 
interest	manufacturers hanover mhc raises prime rate manufacturers hanover trust became the third major bank increase its prime rate pct from matching move initiated yesterday citibank and chase manhattan the bank the main subsidiary manufacturers hanover corp said the new rate effective today reuter 
earn	snyder oil partners soi sets quarterly qtly div cts cts prior pay april record april reuter 
acq	medar mdxr acquires owens illinois unit medar inc said acquired automatic inspection devices inc subsidiary owens illinois inc toledo ohio through exchange stock for pct the company automatic designs and manufactures line machine vision systems for the packaging pharmaceutical electronics and consumer goods industries reuter 
acq	allis chalmers estimates proceeds sale allis chalmers corp said expects cash proceeds from the proposed sale its solids processing equipment and minerals systems businesses exceed mln dlrs with material gain loss anticipated from the planned sale closing the sale boliden sweden would part the overall restructure allis chalmers which was announced march four the company said allis chalmers said the business entities included the transaction had total sales about mln dlrs with total employment about the solids processing equipment business involves manufacture crushing and related equipment for mining consists operations sweden australia brazil france great britain spain and appleton wis the minerals systems business has operations west allis wis and lachine quebec canada reuter 
interest	irving trust raises prime rate irving trust said raising its prime rate pct from effective immediately becomes the fourth bank raise the rate following citibank chase manhattan and manufacturers hanover trust reuter 
acq	conrac cax rejects mark offer conrac corp said its board has rejected mark industries inc tender offer for all conract shares dlrs each and conract director officer plans tender any shares the company said financial advisor goldman sachs and determined the price inadequate said its board has instructed management explore and develop with financial and legal advisors alternative courses action maximize shareholder values reuter 
acq	taft tfb had not completed station sale taft broadcasting said the sale its independent television stations tvx broadcast group which had been set for yesterday did not occur tvx and its investment bankers salomon inc salomon brothers advised taft the closing would not consumated scheduled the company said tvx and salomon also advised taft they hope able close near future the company said adding prepared close any time taft spokeswoman referred all questions tvx and salomon taft agreed november sell the stations philadelphia washington miami fort worth dallas and houston tvx broadcast for mln dlrs the time taft said the transaction would result after tax charge mln dlrs reuter 
acq	cyclops cyl names dixons officials board cyclops corp said has reconstituted its board include three dixons group plc executives following dixons acquisition pct cyclops shares dlr per share tender offer cyclops said remaining the six member board are chairman and chief executive knoell president and chief operating officer james will and senior vice president william dickey reuter 
acq	southmark completes acquisition southmark corp said has completed the purchase georgia international life insurance from capital holding corp cph for cash and southmark securities worth over mln dlrs reuter 
earn	valhi vhi reports pro forma earnings valhi inc formed the march merger amalgamated sugar into llc corp said had unaudited pro forma earnings mln dlrs cts share for the six months ended december valhi said these results were prepared the merger had occurred july and substantially the same basis the pro forma financial information llc and amalgamated joint proxy statement dated february valhi said has about mln common shares outstanding with about pct held contran corp reuter 
earn	acme cleveland corp amt sets quarterly qtly div cts cts prior pay may record april reuter 
earn	vms strategic land trust vlans sets payout vms strategic land trust declared initial dividend cts share payable may shareholders record april the dividend represents pct annual return based the company original offering price december dlrs share the return guaranteed through december the company said the trust invests short term junior preconstruction mortgage loans and has total principal amount investments approximately mln dlrs reuter 
interest	chemical chl raises prime rate pct chemical bank the main bank subsidiary chemical new york corp said raising its prime lending rate pct from pct effective immediately reuter 
money-fx	fed buying one billion dlrs bills for customer account fed says 
interest	marine midland mmb raises prime rate marine midland banks inc said raising its prime lending rate pct from pct effective immediately reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days days pct pct days days pct pct days reuter 
money-fx	fed buys one billion dlrs bills for customer the federal reserve buying one billion dlrs treasury bills for customer account for delivery today spokesman for the bank said fed funds were trading pct the time the purchase which came several hours before the fed normally transacts business for its customers economists said the purchase was almost certainly related the investment proceeds from recent central bank intervention the foreign exchanges the bank japan alone estimated have bought about six billion dlrs march bid prop the dollar reuter 
earn	georgia pacific have mln dlr pretax gain from sale georgia gulf stake 
acq	beecham group bhamy sell unit privately held investment firm dubin clark and said has signed definitive agreement for investment group heads acquire roberts consolidated industries from beecham group plc for mln dlrs roberts makes and distributes accessories adhesives and tools used carpet installation dubin clark said its group includes roberts management and london investment company rothschild holdings plc said ronald dubin will become vice chairman roberts and thomas clark chairman reuter 
interest	mercantile bank mtrc raises prime rate mercantile bancorp said its mercantile bank raised its prime rate pct from pct effective immediately reuter 
acq	autospa lube buy control cardis cds autospa corp said has signed agreement purchase shares eight pct convertible preferred stock cardis corp representing voting control for mln dlrs the company said the preferred purchase will financed investment group led autospa said will also receive from cardis five year options buy cardis common shares seven dlrs each depending the time exercise and warrants purchase about shares dlrs each the company said the exercise all options and warrants autospa would result tital investment mln dlrs execution definitive agreement expected april said subject the completion financing arrangements and closing expected may reuter 
earn	weatherford international inc wii qtr loss shr loss cts loss dlrs net loss loss mln revs mln mln year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln reuter 
earn	progressive savings prsl qtr loss shr loss dlrs profit three cts net loss profit revs mln mln year shr loss cts profit three cts net loss profit revs mln mln note full name progressive savings and loan association current year figures include mln dlr incrase reserves for estimated real estate and loan losses reuter 
acq	allied supermarkets asu files proposed merger allied supermarkets inc said filed registration statement with the securities and exchange commission for proposed merger with the vons companies supermarket combination store operator allied said the statement covers mln dlrs senior subordinated discount debentures and mln dlrs subordinated debentures principal amounts with proposed aggregate offering price about mln dlrs for each issue drexel burnham lambert inc and donaldson lufkin and jenrette securities inc are underwriters both issues which allied expects offer early june allied said reuter 
earn	john butler butc qtr feb net shr cts cts net sales six mths shr cts cts net sales mln mln reuter 
earn	guillevin international inc year jan net shr cts cts net sales mln mln reuter 
earn	cosmo communications corp csmo year loss shr loss one loss dlrs net loss loss mln revs mln mln reuter 
earn	linear lner sees lower comparable qtr net linear films inc said its fourth quarter earnings for the period ended march will lower than the dlrs cts share reported the year ago quarter sales mln dlrs the company attributed the lower earnings narrowing profit margins stretch film linear also said increasing its stretch film prices six pct effective april reuter 
earn	staodynamics inc sdyn qtr net shr three cts six cts net revs avg shrs year shr cts eight cts net revs avg shrs reuter 
acq	source srce completes merger source bank said completed its merger with community state bank north liberty ind the bank said community state bank shareholders approved the merger meeting last saturday while monday the directors source also approved the move the merger would add community bank mln dlrs assets source more than one billion dlrs assets source said reuter 
acq	first national bank corp buy branch first national bank corp the newly formed parent first national bank mount clemens mich and bankers fund life insurance said reached agreement buy branch clinton township from nonrelated financial institution said the acquisition brings the number bank branches macomb county terms were not disclosed separately the newly formed holding company also said named arie guldemond chairman and harold allmacher president and chief executive officer reuter 
earn	georgia pacific sees gain from sale georgia pacific corp said its second quarter results will include gain mln dlrs pre tax cts per share after tax from the sale its interest georgia gulf corp the company said selling warrants for about mln shares georgia gulf common stock goldman sachs and connection with the mln share offering georgia gulf said received the warrants when agreed sell its commmodity chemical operations georgia gulf reuter 
interest	continental illinois cil raises prime rate continental illinois corp said has raised its prime rate from reuter 
earn	thousand trails inc trls year loss shr loss dlrs profit cts net loss profit revs mln mln note current year figures include mln dlr after tax writedown land and improvements mln dlr increase allowance for doubtful accounts and after tax gain three mln dlrs debt retirement reuter 
earn	vista organization ltd visa year net shr profit one loss nine cts net profit loss revs avg shrs mln mln reuter 
earn	tca cable inc tcat sets quarterly qtly div six cts six cts prior pay april record april nine reuter 
acq	monsanto mtc invests biotechnology biod biotechnology development corp said its medicontrol corp subsidiary received dlr investment monsanto searle and subsidiary the company said the investment was made pursuant option searle held and increases searle stake medicontrol pct with total investment one mln dlrs reuter 
acq	chase cmb buys borg warner bor unit chase manhattan corp said chase trans info subsidiary its chase manhattan bank unit has bought borg warner corp traffic services business including illinois processing center for undisclosed sum borg warner traffic services provides freight bill pre audit payment and information services industry through borg warner acceptance corp chase trans info which offers similar services now the largest provider information services for the transportation industry reuter 
earn	republic savings and loan rsla sets dividend qtly div cts cts prior pay april record april note company full name republic savings and loan association wisconsin reuter 
earn	thl holdings inc year jan net oper net mln mln revs bilion billion note thl parent scoa industries inc acquired leveraged buyout december reuter 
interest	freddie mac adjusts short term discount rates the federal home loan mortgage corp adjusted the rates its short term discount notes follows maturity rate old rate maturity days pct pct day reuter 
earn	geoffrion leclerc inc six mths net shr cts cts net revs mln mln note period ended february reuter reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity pct days pct days days pct pct days days pct pct days days pct pct days days pct pct days reuter 
earn	towle manufacturing qtow year loss oper shr loss dlrs loss dlrs oper loss mln loss mln note loss excludes gain the sale gold lance corp mln dlrs company operating under chapter reuter 
acq	delta air lines completes acquisition western air 
interest	treasury baker says hopes prime rate increases temporary 
earn	south atlantic financial corp soaf qtr shr cts cts net year shr cts cts net note per shr amounts reported after preferred stock dividend requirements reuter 
interest	treasury baker hopes prime rate rise temporary treasury secretary james baker said hopes yesterday small increase two major money center banks prime rate was temporary phenomenon hope was temporary blip upward told house appropriations subcommittee said the decline interest rates since president reagan took office remains one the significant accomplishments the economic area this administration reuter 
acq	delta dal completes western air wal buy delta air lines inc said completed the acquisition western air lines inc this morning the action follows supreme court justice sandra day connor overnight granting delta and western request stay earlier injunction against the deal issued the court appeals for the ninth circuit more 
earn	american oil and gas corp aog qtr loss shr loss cts loss dlrs net loss loss revs mln mln year shr loss cts loss dlrs net loss loss revs mln mln note results have been restated reflects equity investment welltech inc for one month ended dec and its investment american well servicing for the months ended nov and full year and net include loss dlrs and dlrs respectively for equity welltech and predecessor operations reuter 
acq	macandrews forbes unit begins offer buy all revlon group not already owned 
earn	newpark resources inc year ended dec loss oper shr loss dlr loss dlrs oper net loss mln mln revs mln mln note and oper net excludes loss mln dlrs cts share and mln dlrs dlrs share respectively for discontinued operations net also excludes gain mln dlrs dlrs share for credit debt restructuring reuter 
earn	tierco group inc tier year ended dec loss shr loss cts loss dlr net loss loss revs reuter 
earn	microdyne corp mcdy sets payout semi div three cts three cts prior pay june record may reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days reuter 
earn	crownamerica inc crna qtr ended feb shr two cts cts net revs mln mln six mths shr cts cts net revs mln mln note qtr and six mths ended march one reuter 
earn	diamond shamrock dia sees better earnings diamond shamrock corp which will split this month into two separate companies expects show improved earnings over last year executives the new company told reuters charles blackburn president and chief executive officer diamond shamrock and the new company which will emphasize exploration and production said earnings wil better than declined say how much better diamond shamrock reported loss mln dlrs total revenues billion dlrs exploration and production lost mln dlrs revenues mln dlrs roger hemminghaus diamond shamrock vice president and soon chief executive the spin off diamond shamrock refining and marketing said refining and marketing margin business the margins will return and this will better year than refining and marketing showed operating profits mln dlrs revenues billion dlrs are also expecting the black the first quarter heminghaus added the first quarter the refining and marketing segment showed loss mln dlrs revenues mln dlrs the executives were new york for meetings with institutional investors aimed increasing interest the company stock the new york stock exchange diamond shamrock was trading down earlier this year boone pickens offered dlrs share for diamond shamrock and management countered with offer dlrs and decision split off the refining and marketing operation its shareholders our advisors convinced the market would give higher multiples for pure plays blackburn said reuter 
earn	vms strategic vlans sets initial dividend vms strategic land trust said delcared initial quarterly cash dividend cts share payable may shareholders record april the company also said that effective today will trading the nasdaq system under the symbol vlans reuter 
earn	equicor sees year revenues top two billion equicor equitable hca corp said that the company will likely attain revenues excess two billion dlrs its first year operations the company created last october with initial equity mln dlrs owned equally the equitable life assurance society the and hospital corp america hca financial results for the first six months the company operations were not disclosed equicor provides employee group plans corporations nationwide said aims double its marketshare five years from the about pct the employee benefits industry controls reuter 
acq	macandrews forbes begins revlon rev offer macandrews and forbes group inc said began dlr share cash offer for all common stock revlon group inc does not already own the offer which being made wholly owned subsidiary revmac acquisition corp subject financing and least mln shares being tendered the company said macandrews and forbes wholly owned ronald perelman chairman revlon group held about pct the voting power revlon march spokesman said the stake includes about pct revlon common and pct its series preferred stock said more 
earn	arco arc higher earnings estimate atlantic richfield stock rose sharply after analyst eugene nowak dean witter reynolds inc raised his earnings estmates the company traders said arco jumped nowak said that based average oil price dlrs barrel the company should earn about dlrs share next year based average oil price dlrs barrel arco should earn about five dlrs share the company earned dlrs share oil prices should rise average dlrs barrel said arco could record earnings dlrs share nowak said his increased estimates come after the company told analysts yesterday that its first quarter earnings will comfortably cover its quarterly dividend requirement one dlr share nowak said the company has done outstanding job reducing expenses and arco poised generate greater earnings power said first quarter earnings will likely exceed the company expectations stated yesterday and the dlr share range reuter 
acq	deak international buys johnson matthey deak international foreign currency and precious metals firm announced the acquisition johnson matthey commodities new york from minories finance limited unit the bank england the purchase valued mln dlrs follows the recent acquisition london johnson matthey commodities limited deak said the new york firm will known deak international trading ltd the company said arkadi kuhlmann president and chief executive officer deak international said the purchase will expand deak operations into the precious metals and wholesale non ferrous metals trading arenas reuter 
acq	wall street stocks purolator courier pcc purolator courier corp stock jumped dlr per share takeover offer from emery air freight corp eaf traders said purolator was trading above the offer price the emery offer tops dlr per share buyout agreement hutton lbo inc reached with purolator february that offer was have expired today neither hutton nor purolator had any immediate comment there probably some speculation out there that there might another offer said one analyst reuter 
earn	barnes group expects sales grow modestly barnes group said expects sales and net income for will slightly over without supplying specific figures barnes told shareholders its annual meeting expected net income improve rate exceeding its growth sales which was two pct higher than the company said recorded income from continuing operations mln dlrs dlrs per share sales mln dlrs said recorded income from continuing operations mln dlrs dlrs per share the previous year reuter 
earn	roadway motor plazas inc qtr jan shr two cts one cts net revs mln mln nine months shr cts cts net revs mln mln reuter 
earn	dionics inc dion year net shr seven cts cts net revs reuter 
earn	winn dixie stores inc win sets monthly payout mthly div cts cts prior pay april may june record april may june reuter 
earn	waxman industries inc waxm regular payout qtly div class two cts two cts prior qtly div class one one prior pay april record april reuter 
acq	deak buys johnson matthey commodities deak international foreign currency and precious metals firm announced the acquisition johnson matthey commodities new york from minories finance limited unit the bank england the purchase valued mln dlrs follows the recent acquisition london johnson matthey commodities limited deak said the new york firm will known deak international trading ltd the company said arkadi kuhlmann president and chief executive officer deak international said the purchase will expand deak operations the precious metals and wholesale non ferrous metals trading arenas reuter 
interest	iif executive sees interest rates declining institute international finance managing director horst schulmann said that his orgnaization has been forecasting further declines interest rates the first half this year and then levelling off and there reason change that speaking reporters the bank research group said that the increase interest rates announced yesterday and other activity the foreign exchange markets did not indicate fundamental change the outlook schulmann speaking broadly about the global debt problem said that the international monetary fund should increase its assistance third world countries the remarks come just before next week meeting the imf interim committee and the joint development committee the imf and world bank letter the committee the bank group said commercial banks cannot the dominant supplier balance payments finance schulmann said that imf exposure peaked and has declined bit since then reuter 
earn	walker telecommunications corp wtel qtr shr loss cts loss nil net loss mln loss revs mln mln year shr loss cts profit four cts net loss mln profit revs mln mln note qtr loss includes loss mln dlrs from discontinuance operations qtr includes loss dlrs from discontinued operations qtr includes mln dlr provision for costs anticipated connection with disposal division and dlrs adjustments related write downs qtr includes gain dlrs for exchange telephone inventory for barter credits reuter 
earn	brokers securities inc bkrs qtr loss shr loss cts profit cts net loss profit revs avg shrs year shr profit seven cts profit cts net profit profit revs avg shrs note year ago net includes extraordinary gains for qtr and for the year reuter 
earn	first world cheese inc fwch qtr loss shr loss cts profit nil net loss profit revs avg shrs year shr loss cts profit seven cts net loss profit revs mln mln avg shrs reuter 
acq	penney jcp buy equity beeba penney inc said signed letter intent acquire one mln shares pct equity interest beeba creations inc beba for dlrs share penney said the agreement also calls for beeba major supplier junior sportswear work with penny the establishment junior specialty shops created about penney stores early freestanding stores are also being planned the company said beeba will the principal source merchandise the shops said for the six months ended february beeba reported net income mln dlrs sales mln dlrs penney said will establish independent merchandising and marketing organization manage and support the shops which will staffed personnel both from within and outside the company the company said the new agreement would have impact its current supplier base and will continue work with braod base suppliers junior sportswear does its other merchandise areas reuter 
interest	austrian banks divided over interest rate cut calls for cut austrian interest rates have grown recent days but bank chiefs are divided over the issue karl vak general director the zentralsparkasse und kommerzialbank wien called today for cut half percentage point interest rates across the board but hannes androsch head creditanstalt bankverein cabv told reuters opposed cut because would hurt small savers vak told news conference that last january cut lending rates for commercial customers and for all depositors quarter point had been insufficient the january cut followed the national bank lowering its discount and lombard rates half point line with similar bundesbank move prime lending rate now pct and deposit rates vary between and pct yesterday hellmuth klauhs head the genossenschaftliche zentralbank said rates could fall least quarter point even half point german rates dropped further vak noted that inflation had fallen below one pct widening gap between austrian rates and cheaper west german credit along with forecasts slow austrian economic growth this year also justified further interest drop said karl pale head girozentrale und bank der oesterreichischen sparkassen girv has also called for lower deposit rates but said lending rates should remain unchanged the moment interest margins were too small particularly when compared with other west european countries but hans haumer head the erste oesterreichische spar casse bank told reuters that cut should made unless west german rates came down first banking sources said bank seemed ready lower rates alone and supporters cut would have difficulty overcoming opposition from creditanstalt austria biggest bank reuter 
earn	edwards inc age qtr feb net shr cts cts net revs mln mln year shr dlrs dlrs net revs mln mln note prior year earnings reflect three for two stock split distributed may reuter 
acq	peripheral systems psix agress buy company peripheral systems inc said agreed principle acquire the outstanding shares nucell inc the agreement calls for exchange one share peripheral for each share nucell subject approval both companies boards said peripheral said its increased involvement the development nucell nuclear battery technology made the merger practical reuter 
interest	manufacturers national mntl unit lifts rate manufacturers national corp manufacturers bank wilmington said increased the interest rate its fee variable rate mastercard pct from pct the new interest rate applies the second quarter the rate the card set quarterly reuter 
acq	first chicago fnb unit buys banks first chicago corp american national bank unit said completed the acquisition four suburban chicago banks with combined assets about mln dlrs the banks are national bank north evanston elgin national bank first national bank schiller park and merchants and manufacturers state bank melrose park american national now owns nine banks reuter 
acq	centerre ctbc acquires benefit plan services centerre bancorp said completed the acquisition benefit plan services inc maryland heights which specializes designing and administering small and moderately sized pension plans terms were not disclosed reuter 
earn	conolog corp cnlg qtr jan net shr two cts two cts net revs six mths shr three cts three cts net revs reuter 
interest	bankers trust raises prime lending rate bankers trust said has raised its prime lending rate pct from effective immediately this move the latest series similar actions leading money center banks including citibank and chase manhattan bank over the last hours ameritrust corp ohio also raised its prime lending rate pct from effective tomorrow reuter 
interest	boatmen national bank boat raises prime boatmen bancshares said its boatmen national bank raised the prime rate pct from pct effective immediately reuter 
acq	unicorp voting stake hiked union enterprises union enterprises ltd said holders mln pct its class series one preferred shares requested retract their shares under terms the issue thus raising unicorp canada corp voting stake union pct from union said paid about mln dlrs april for the retraction using existing credit lines reuter 
earn	starrett housing corp sho qtr net oper shr cts eight cts oper net revs mln mln year oper shr cts cts oper net revs mln mln note oper excludes extraordinary reserves related arbitration iranian claims for qtr and year reuter 
interest	first wisconsin nat bank fwb hikes prime rate first wisconsin national bank said has raised its prime rate pct from pct effective today reuter 
earn	gac liquidating trust gactz sets cash payout unit distribution one dlr dlrs prior pay june one record may one note prior distribution declared april reuter 
earn	wrather corp wco qtr loss shr loss cts loss cts net loss revs mln mln year shr loss dlrs profit cts net loss profit revs mln mln note prior qtr figures include income from discontinued operations dlrs gain disposal discontinued operations dlrs four cts per share and operating loss carryforward gain dlrs cts per share prior year figures include income from discontinued operations dlrs two cts per share gain disposal discontinued operation mln dlrs cts per share and operating loss carryforward gain mln dlrs cts per share reuter 
earn	murphy oil corp mur sets regular dividend qtly div cts cts prior pay june one record may reuter 
interest	new venezuela debt interest rate goes into effect the new interest rate pct over libor venezuelan public sector debt payments goes into effect today finance minister manuel azpurua said azpurua told reporters yesterday the reduction from the previous margin pct above libor will save the country some mln dollars debt servicing the new rate among changes agreed last month the billion dlr public sector debt rescheduling under the new agreement venezula was also able extend the term from years and lower debt payments the period pct azpurua said that according the agreement the new interest rate will retroactive april provided the accord approved before october told reporters the term sheet detailing the changes the rescheduling has already been endorsed the member debt steering committee and now being sent the country creditor banks for their approval the new agreement replaces rescheduling accord signed february which venezuela asked revise reflect pct drop oil revenues reuter 
interest	suntrust banks sti raises prime pct suntrust banks said that sun banks florida and trust banks georgia have raised their prime rate pct from pct the company said the action effective immediately reuter 
acq	horn hardart hor unit disposes restaurants horn and hardart said disposed bojangles chicken biscuits restaurants florida part its previously announced retrenchment its bojangles subsidiary terms were not disclosed the company said the restaurants orlando tampa and jacksonville markets have incurred the majority bojangles operating losses over the last two years due the transaction horn and hardart projecting positive cash flow for the unit for the remainder fiscal spokesman said the disposition consists combination sale lease and franchise agreements the transaction involves one quarter the company owned bojangles restaurants and accordance with its restructuring program announced october spokesman said the company considering the sale spinoff the company owned additional restaurants which are profitable the company said the disposition will result profit loss for the company because the costs were anticipated mln dlr reserve taken the third quarter the foodservice division which includes burger king arby and tony roma had pre tax operating loss mln dlrs including the mln dlr charge restructure bojangles excluding bojangles the group had revenues mln dlrs the company said that pursuant the restructuring has cut general and administrative expenses attributable bojangle pct reuter 
earn	multibank financial corp mltf payout qtly div cts cts prior pay april record april reuter 
interest	first bank systems fbs units hike rate first bank minneaplois and first bank saint paul both units first bank systems inc said they raised their reference rates pct from pct reuter 
acq	chemical fabrics cmfb agreement terminated chemical fabrics corp said agreement principle under which birdair inc would have purchased assets related the architectural structures business dow corning corp odc inc division has been terminated under that agreement chemical fabrics would also have become distributor dow corning vestar silicone coated fiberglass architecural fabrics birdair joint venture chemical fabrics and owens corning fiberglas corp ocf and down corning venture dow chemical dow and corning glass works glw chemical fabrics said once the current project backlog dow corning odc division completed dow corning plans discontinue its design engineering fabrication and installation services chemical fabrics said the companies will cooperate the development new products for architectural and industrial applications and may supply architectural materials each other reuter 
acq	sis sisb completes wendy wen unit buy sis corp said has completed the acquisition its franchisor sisters international inc from wendy international inc for mln dlrs stock said the purchase includes restaurants ohio operates sisters giving sis total restaurants and franchise relationships six midwestern and southern states reuter 
acq	canadian tire major holders not extending pact ctc dealer holdings ltd said canadian tire corp ltd controlling shareholders alfred david and martha billes did not extend agreement expiring yesterday tender their shares only ctc previously reported offer for pct canadian tire common shares ctc which already holds pct canadian tire common said would therefore not take any shares tendered under its offer unless they totaled least mln another pct canadian tire common the billes control pct canadian tire common added that extended its offer may fixed price dlrs share ctc group canadian tire dealers said expected know may would obtain approval appeal previously reported ontario court ruling upholding regulatory decision block ctc offer the dealers bid was previously blocked the ontario securities commission because the offer excluded holders canadian tire class non voting shares which make about pct company equity reuter 
acq	hutton lbo extends expiration for dlr shr offer for purolator april from today 
acq	conrac says mulling restructuring buyout alternatives 
acq	conrac cax exploring restructuring buyout conrac corp whose board has rejected dlr share tender offer from mark industries inc said exploring alternatives such restructuring leveraged buyout takeover the company filing with the securities and exchange commission conrac said its board directors authorized its financial and legal advisors explore several alternatives the mark offer which said considers inadequate the alternatives being explored include restructuring leveraged buyout takeover the company another company conrac said conrac which said its board discussed the alternatives special meetings march and said that its decision whether adopt any the alternatives would hinge the future actions mark and its unsolicitied tender offer putting into effect any the alternatives being explored could hurt defeat the mark offer said board members were also instructed keep confidential the terms any transaction that might entered into until becomes final the company said the board also took other defensive steps including granting severance agreements some officers said board meeting yesterday concac directors deleted provision allowing the holder least one third all classes its voting stock call special shareholders meeting and deleted another provision allowing shareholders remove directors without cause the company said the defensive moves were taken because mark had said planned elect majority its designees directors special holders meeting succeeded acquring majority the company common stock the offer conrac said conrac president vice president and treasurer were given severance agreements golden parachutes said under the agreements conrac president paul graf would get cash payment twice his annual salary which was dlrs last year there were change control the company including acquisition pct more the company voting stock conrac said treasurer joseph smorada and vice president joseph donnell who made dlrs last year would get one and half times his salary there were change control smorada salary was not listed the sec filing the executives would also get cash settlements options plans and continuation insurance and other benefits reuter 
interest	more banks join prime rate cut chemical bank the main bank subsidiary chemical new york corp and marine midland banks inc said they were raising the prime lending rate pct from pct effective immediately louis mercantile bancorp said its mercantile bank was also raising its prime rate pct from pct effective immediately the changes follow similar cuts yesterday citicorp and chase manhattan reuter 
earn	convest energy partners ltd cep qtr loss shr loss dlrs loss dlrs net loss mln loss mln revs year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note net includes oil and natural gas writedowns mln dlrs quarter and mln dlrs year reuter 
earn	dylex ltd year jan net shr cts one dlr net mln mln sales billion billion note excludes extraordinary gain mln dlrs two cts per share from public issue affiliate shares reuter 
earn	international seaway trading corp ins year oper shr cts cts oper net revs mln mln note and oper net excludes gain dlrs and dlrs respectively for extraordinary item reuter 
earn	callon petroleum clnp qtr loss shr loss cts loss dlrs net loss loss mln revs avg shrs year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln avg shrs reuter 
earn	county savings bank csba sets stock dividend county savings bank said its board declared five pct stock dividend payable april shareholders record today reuter 
acq	hutton efh extends purolator pcc offer hutton group hutton lbo inc unit said extended the expiration date for its dlr per share tender offer for purolator courier corp midnight est april six from midnight april one hutton lbo inc said its wholly owned acquisition inc subsidiary which the entity making the offer extended both expiration date and the withdrawal rights period for its pending tender for mln shares pct purolator common hutton offer was topped today dlr per share bid for pct the stock from emery air frieght corp eaf both offers would pay shareholders package securities for the balance their shares valued the respective tender offer prices hutton said the end the day yesterday about shares purolator common stock repesenting pct outstanding shares had been validly tendered and not withdrawn manhattan supreme court justice lewis grossman today adjourned until monday hearing stockholder suit seeking block the hutton lbo transaction the judge told attorneys needed time hear other cases plaintiffs cited their belief that superior offer would forthcoming however one company mentioned affadavit interlink express plc denied that was interested yesterday frank hoenemeyer retired vice chairman prudential insurance and currently purolator board member said initial offer from hutton was rejected the board directors february third hoenemeyer testified that the next meeting the board february hutton submitted revised proposal which was accepted also testified committee directors had hired goldman sachs and consider alternatives the hutton offer and also consider discussion possible mergers with other companies including emery and federal express corp fdx reuter 
earn	bankamerica bac post gain unit sale bankamerica corp said completed the sale its consumer trust services division well fargo and wfc transaction that will result second quarter pre tax gain more than mln dlrs the sale will not affect the services the bank will continue providing institutional customers through its employee benefit trust services division bankamerica also said separate announcement wells fargo said the acquisition will increase the amount personal trust assets administers billion dlrs last december bankamerica and wells fargo announced definitive agreement the sale price about mln dlrs subject adjustment reuter 
ship	london metal freights rotterdam karachi shredded scrap bin qasim shanghai pig iron fhex shex chungjin manila steel coils liner discharge bilbao one port vietnam steels fio end april singapore mizushima steel scrap fiot reuter 
earn	ciro inc ciri year shr loss three cts profit cts net loss profit revs mln mln reuter 
ship	london ore enquiries fixtures south africa salvador brazil long tons manganese ore end april callao crotone minerals spot geraldton tampico bulk mineral sands fio itea dunkirk bauxite seven days all purposes tampico north spain ore two days shinc shex one port german north sea usg bulk ore reuter 
earn	helm resources inc qtr loss oper shr loss two cts loss cts oper net loss loss revs mln mln year oper shr profit two cts loss cts oper net profit loss revs mln mln note net excludes discontinued operations gain dlrs loss dlrs quarter and gain dlrs loss dlrs year net excludes extraordinary loss dlrs gain dlrs quarter and gains dlrs dlrs year net both periods includes writedowns dlrs oil related seismic data reuter 
earn	sasco products inc year loss shr loss eight cts profit four cts net loss profit revs note net includes nonrecurring expenses dlrs reuter 
acq	ausimont compo aus sells unit ausimont compo said has sold the assets its equipment and machinery division for about six mln dlrs investment group including the unit management resulting modest pretax gain that will included first quarter results the unit had sales five mln dlrs reuter 
acq	atlantic research atrc completes acquisition atlantic research corp said has completed the acquisition professional services firm ori group for common shares pooling interests basis reuter 
acq	peabody holding completes acquisition peabody holding inc said has completed its acquisition substantially all eastern gas and fuel associate efu coal properties for pct peabody holding stock peabody said the purchase includes seven underground mines and seven coal preparation plants currently operated eastern well coal properties being mined several contractors west virginia the acquisition also involves about mln tons coal reserves mostly west and includes eastern coal reserves and inactive powderhorn operations near palisade colo peabody said peabody added that expects announce within the next week how will staff and operate the properties and offices has acquired from eastern reuter 
earn	penta systems international inc psli qtr shr loss six cts loss cts net loss loss mln revs mln mln year shr profit cts loss dlr net profit loss mln revs mln mln reuter 
money-fx	fed says buys mln dlrs bills for customer may through sept maturity 
acq	chirac sees quick decision cgct french prime minister jacques chirac told congressmen france would announce decision two three weeks which group control its second largest communications firm compagnie generale construction telphoniques french sources said they said chirac promised that france decision would based financial economic and technical criteria and not political grounds and german companies are the leading contenders take control cgct the reagan administration has warned france and germany that may retaliate control the company awarded political grounds jacques delors president the european community executive commission called last month for control west germany siemens order strengthen european industry the other leading contender consortium american telephone and telegraph with philips the netherlands chirac said france would make public its reasons for awarding control the sources said was asked about the company fate two occasions meetings with leaders the senate and house representatives reuter 
ship	agency reports ships waiting panama canal the panama canal commission government agency said its daily operations report that there was backlog ships waiting enter the canal early today over the next two days expects due scheduled transit end day backlog average waiting time tomorrow super tankers regular vessels north end hrs hrs south end hrs hrs reuter 
earn	control resource industries inc crix qtr shr loss five cts profit eight cts net loss profit revs mln mln year shr profit cts profit cts net profit revs mln mln reuter 
earn	american water works inc awk sets payout qtly div cts cts prior pay may record may one reuter 
earn	hunt manufacturing hun sets payout qtrly div cts cts pay april record april reuter 
acq	itel itel buys castle cooke cke unit assets itel corp said has completed the previously announced acquisition the container fleet and related assets castle and cooke inc flexi van leasing inc subsidiary for about mln dlrs cash and marketable securities mln dlrs notes three mln common shares and the assumption liabilities the company said has obtained mln dlrs financing from bank group for the deal and the common shares are subject year restriction their sale and voting reuter 
earn	pittsburgh and west virginia railroad net qtr shr cts cts net revs year shr cts cts net revs reuter 
acq	dynalectron dyn buys aviation facility dynalectron corp said purchased certain assets standard aero inc including leasehold rights its aircraft modification and maintenance facility phoenix ariz terms were not released the facility consists square feet hangar and shop space dynalectron will operate the plan dynair tech inc and offering continued employment about former standard aero employees reuter 
acq	talking point purolator courier pcc emery air freight corp topped leveraged buyout offer for purolator courier corp about mln dlrs but wall street reacting though another offer may surface purolator stock climbed today over emery dlr per share offer emery topped dlr per share mln dlr offer from hutton lbo inc some analysts said the latest mln dlr offer for purolator exceeded their expectations several analysts previously had said they saw takeover values for the package delivery company the dlr per share range least one however estimated the company could taken over range dlrs per share analysts today would not venture say whether another offer could made but some arbitragers still held the belief that the bidding could higher they have choice seek out the best possible offer emery has shown the courage forth said one arbitrager who speculated other courier companies may also emerge bidders makes sense said james parker robinson humphrey but won make out well they think they won get pct the synergies analysts said the acquisition could cost emery earnings the short term but long term after eliminating redundancies and selling other purolator assets should boost emery profitability parker said combined purolator and emery would rival united parcel service the second largest package delivery company after federal express corp fdx which has pct the market parker speculated that the combined emery purolator would have about pct the six seven billion dlr delivery business this will make emery bigger factor the light weight delivery business but will not make them power house said douglas arthur kidder peabody and purolator today declined comment the emery offer and its chairman nicholas brady did not return phone call hutton lbo also declined comment the emery offer but said extended the expiration and withdrawal period its offer april six midnight from today midnight est one analyst speculated the extension makes more likely hutton will attempt another offer however was skeptical company outside the package delivery industry would want outbid dlrs per share because would not have the same synergies courier company since purolator agreed late february buyout some its management and the hutton group efh subsidiary speculation has arisen that more bidding was come the buyout was surrounded controversy since purolator board member doresy gardner resigned march gardner said believed better offer could made another entity spokesman for gardner today said the former director had contact with emery nor did have any other buyers lined for purolator purolator deal with hutton was also called into question shareholder suit filed earlier this week which attempted stop the tender offer allow another bidder come forth hearings new york state court were delayed until monday arbitragers had said they believed the hutton offer could bettered because the wall street firm was not planning keep its cash tied purolator hutton providing mln dlr bridge loan that would later replaced with other debt hutton would maintain majority interest purolator hutton sources have said the firm was fact facing risk its investment since did not know when could reclaim its mln dlr loan emery last year lost mln dlrs revenues mln dlrs purolator lost mln dlrs mln dlrs revenues reuter 
interest	canadian imperial bank lowering visa rates canadian imperial bank commerce said was lowering the interest rate its visa credit card pct from pct effective with the may billing statement the bank said was also halving its yearly visa card user fee six dlrs but would retain its fee for each transaction bank spokesman said the previously reported call the canadian parliament finance committee march for substantial cut credit card rates was factor the move but would not elaborate canada minister state for finance thomas hockin had threatened legislation reduce the rates which apply unpaid balances the financial institutions did not voluntarily act the canadian imperial bank spokesman said the bank card market very competitive one and have move stay competitive canadian imperial new rates match those toronto dominion bank which lowered its rates before the finance committee report canadian imperial bank added that cardholders will allowed choose between the transaction fee the six dlr yearly card fee will also eliminate the minimum monthly transaction fee said minister state for finance tom hockin said the house commons today was delighted with the bank cut its credit card rate would hope retail stores and other financial institutions will look their rates well hockin said during the daily question period reuter 
earn	nissan motor nsany sees second half profit nissan motor ltd japan said expects that was profitable the second half ended yesterday after first half operating loss billion yen nissan chief financial officer atsushi muramatsu speech before automotive seminar said attributed the improvement cost reductions and rationalizations operations said exchange rates stabilize nissan will have strong profit recovery fiscal and profits for fiscal better than those before the yen started advancing muramatsu said nissan studying the possibility setting its own finance company improve access and european capital markets reuter 
earn	geoffrion leclerc forecasts results geoffrion leclerc inc reporting sharply higher earnings for the six months ended february said expects third quarter results continue strong pace and approximate the preceding quarters the brokerage firm earlier reported six month profit rose mln dlrs from mln dlrs last year did not detail second quarter profit reuter 
acq	wall street stocks polaroid prd rumors that new york investor asher edelman has acquired stake polaroid corp and optimism about tomorrow status hearing the patent infringement suit pending with eastman kodak sent polaroid stock higher traders said polaroid rose speculation that edelman was going take stake polaroid was kicking around few months ago and resurfaced today one trader said edelman had comment the rumors spokesman for polaroid said the company had not been contacted edelman and filing had been made with the securities and exchange commission about stake the company there some hope among investors that there will some progress the status hearing tomorrow the patent infringement suit with kodak analyst michael ellmann wertheim and said traders said conceivable that trial date could set some progress made out court settlement the suit filed polaroid april charges that kodak infringed upon polaroid instant camera patent october the court barred kodak from selling cameras film that infringe upon the patent the polaroid spokesman said ellmann said feels highly unlikely that any progress will made tomorrow hearing ellmann said the stock may have also gotten boost today from some optimism concerning new products the company currently working polaroid announcement that particularly senior company executive had been chosen work major unidentified new product spurred some speculation about their products said speculating that the new product could electronic still camera referring camera that records its images magnetic disks opposed conventional film ellmann said the stock may have also gotten boost today from some optimism concerning new products the company currently working polaroid announcement that particularly senior company executive had been chosen work major unidentified new product spurred some speculation about their products said speculating that the new product could electronic still camera referring camera that records its images magnetic disks opposed conventional film reuter 
earn	kaufman and broad inc qtr feb net shr cts cts net revs mln mln avg shrs reuter 
acq	itel itel completes flexi van acquisition itel corp said completed the previously announced purchase the container fleet and certain related assets flexi van leasing inc for about mln dlrs cash and marketable securities mln dlrs notes three mln shares newly issued itel common and assumption certain liabilities the company said obtained financing from syndicate major banks for mln dlrs reuter 
earn	kaufman and broad inc qtr feb net shr cts cts net revs mln mln note housing backlog mln dlrs over pct from year earlier reuter 
earn	csx corp csx qtr net shr cts cts net mln mln revs billion billion note figures reflect the merger sea land corp completed feb reuter 
acq	wall street stocks loral corp lor loral corp climbed amid rumors the company might takeover target general electric however analysts said they were skeptical jack welch doesn want any more exposure defense markets said one analyst who heard the rumors but doubted their accuracy the reference was chairman the analyst who requested anonymity said wouldn believe this one unless there deal the table loral corp officials were not immediately available for comment reuter 
earn	snet sng sees good earnings southern new england telecommunications corp snet said expects have good earnings against dlrs per share mln dlrs the company also said expects capital spending rise about mln dlrs from mln dlrs year ago however senior vice president finance daniel miglio told meeting analysts that there was some uncertainty its earnings outlook because snet currently involved negotiations with state regulators its rate return equity which currently stands pct the company also said expects its snet systems business which composed some its non regulated businesses profitable the end the year reuter 
acq	stryker stry acquires hexcel hxl unit stryker corp said acquired hexcel medical corp wholly owned subsidiary hexcel corp the terms the transaction were not disclosed the sale completes hexcel plan sell all its medical products businesses hexcel said reuter 
acq	old stone ostn completes acquisition old stone corp said completed the previously announced acquisition first federal savings bank north carolina shelby savings bank for common stock the final purchase price expected between seven mln and mln dlrs will based exchange common stock valued times the book value first federal the march closing date the company said february first federal had mln dlrs assets and mln dlrs deposits old stone rhode island based financial services company with assets billion dlrs reuter 
acq	moore medical corp mmd make acquisition moore medical corp said plans acquire privately held penta products wholesale distributor generic durgs for undisclosed terms reuter 
acq	upland minerals acquires brazil mining firm upland minerals and chemicals corp said agreed acquire consolidated brazilian mines international inc public company with one mln acres diamond and gold properties brazil terms were not disclosed consolidated owns mining concessions three regions eastern and northern brazil gammara santo antonio and diamazon the company said upland also said the previously announced acquisition aslaminas aslambeck mining corp minas gerais brazil mining concern will produce revenues mln dlrs year for the next years new york based upland traded over the counter reuter 
acq	inspeech insp buys norma bork bork medical inspeech inc said acquired norma bork associates inc and bork medical services inc for undisclosed terms these firms with combined revenues about one mln dlrs are providers speech pathology physical therapy and occupational therapy services reuter 
earn	noland nold sets quarterly qtly div cts cts prior pay april record april reuter 
interest	bank new york raises prime pct bank new york said raised its prime lending rate quarter point pct said the move effective immediately reuter 
earn	hartmarx corp hmx qtr feb net shr cts cts net sales mln mln avg shrs note per share results restated for may three for two stock split reuter 
interest	manufacturers national mntl raises prime manufacturers national bank detroit said increased its prime rate pct from pct effective immediately reuter 
acq	upland minerals acquires brazil mining firm upland minerals and chemicals corp said agreed acquire consolidated brazilian mines international inc public company with one mln acres diamond and gold properties brazil terms were not disclosed consolidated owns mining concessions three regions eastern and northern brazil gammara santo antonio and diamazon the company said upland also said the previously announced acquisition aslaminas aslambeck mining corp minas gerais brazil mining concern will produce revenues mln dlrs year for the next years reuter 
earn	toll tol stock split public offering toll brothers inc said declared two for one split its common stock and said filed registration statement with the securities and exchange commission for proposed public offering shares common adjusted for the split the record date for the split april and certificates representing the additional shares will mailed april the company said its stock price will adjusted reflect the split april reuter 
earn	national royalty corp nroc qtr loss shr loss cts loss cts net loss loss revs avg shrs mln mln year shr loss cts loss cts net loss loss revs avg shrs mln mln reuter 
earn	port industries inc hipt qtr net oper shr cts eight cts oper net revs mths oper shr cts cts oper net revs mln mln note figures excludes extraordinary item dlrs cts per share for termination its non contributory pension plan figures excludes dlrs cts per share representing insurance proceeds from fire that occurrred reuter 
earn	systems for health care inc year loss shr loss cts nil net loss profit revs note per share results give retroactive effect one for reverse stock split march loss includes recurring expenses dlrs related acquisitions and initial advertising campaigns reuter 
interest	mellon mel republic rpt lift prime rates mellon bank pittsburgh and republic bank dallas have both raised their prime lending rates pct from effective immediately reuter 
ship	gulf barge freight higher nearbys call gulf barge freight rates continued show firmer tone the nearbys the assumption that changes the gulf posted prices will encourage increases both pik and roll activity and barges shipments with total barges traded this morning the louis merchants exchange call session versus nine yesterday dealers said quotes included this week mississippi river granite city mla traded pct tariff five percentage points above yesterday bid next week mississippi alton granite city mla bid five points higher pct offered five barges each week april midmississippi river dubuque south traded yesterday bid pct april illinois river chicago pct bid offered points higher may same section pct bid offered five lower may midmississippi river dubuque south bid points higher pct offered june july lower mississippi river memphis cairo offered pct bids june aug upper mississippi river lacrosse savage offered pct bids oct nov midmississippi dubuque south nov clinton south pct bid offered comparison december illinois river chicago pct bid offered down points offer reuter 
acq	crime control assets sold hawley crime control inc said reached definitive agreement under which subsidiary hawley group ltd will buy assets and assume certain liabilities crime control for mln dlrs this amount said about mln dlrs would available for distribution the company banks debenture holders and shareholders the balance would used pay various state taxes and other expenses relating the transaction and establish reserves provide for certain unassumed obligations the company crime control said would use proceeds pay its bank lenders approximately mln dlrs representing about pct the principal amount all its indebtedness bank lenders also said would propose acquire all its mln dlrs worth outstanding pct convertible subordinated debentures for aggregate approximately mln dlrs and propose liquidation the company with shareholders receiving estimated cts share reported earlier crime control default approximately mln dlrs bank debt and default under the indenture governing its convertible subordinated debentures january crime control which installs services and monitors electronic surveillance systems said retained rothschild inc arrange for the sale the company reuter 
interest	royal bank canada ups base rate pct pct 
earn	peep restaurants inc lpep qtr loss shr loss cts loss cts net loss loss revs avg shrs year shr loss dlr loss dlrs net loss loss revs avg shrs reuter 
earn	towle manufacturing qtow qtr oper loss oper shr loss dlrs loss dlrs oper net loss mln loss mln revs mln mln year oper shr loss dlrs loss dlrs oper net loss mln loss mln revs mln mln avg shrs note current year excludes gain mln dlrs from disposal discontinued operations shr figures after preferred dividend requirements reuter 
interest	royal bank canada ups base rate royal bank canada said raising its base lending rate pct pct effective tomorrow the move the first change the bank dollar base lending rate since last august when lowered the rate point follows the announcement yesterday point rise pct two the largest banks prime rates reuter 
interest	harris bank increases its prime rate the harris trust and savings bank said has increased its prime rate from effective immediately reuter 
earn	strawbridge and clothier strw qtr net shr dlrs dlrs net mln mln revs mln mln year shr dlrs dlrs net mln mln revs mln mln note current year includes loss equal cts shr from takeover defense and loss cts from loss investment tax credits reuter 
crude	mobil raises west coast crude prices between one dlr and dlrs bbl today 
ship	tugs attempt refloating korean bulk carrier seven tugs will attempt refloat the south korean motor bulk carrier hyundai new world tonight lloyds shipping intelligence service said its latest update the vessel grounded close itaqui port brazil last night after undocking from ponta madeira terminal lloyds said the dwt vessel carrying about tons ore five holds are partially flooded and there some leakage bunkers from double bottom tanks low water tide the vessel has list five degrees port and the list increases the tide rises reuter 
earn	robert bruce industries inc bruca year loss shr loss dlrs profit cts net loss profit revs mln mln reuter 
interest	tcf banking and savings hikes prime rate tcf banking and savings said raising its prime rate pct from pct effective today reuter 
acq	campeau and edward debartolo complete purchase campeau corp and the edward debartolo corp have closed their previously announced purchase five the regional shopping centers allied stores corp campeau said and the debartolo association will each hold pct ownership interest the shopping centers campeau separately announced that required bank agreement has contributed additional mln dlrs capital allied campeau acquired allied stores corp earlier this year the company said reuter 
interest	ccc interest rate for april six pct usda the commodity credit corporation ccc interest rate loans disbursed april will carry six pct ionterest rate the agriculture department said the april rate from march pct and reflects the interest rate charged ccc the treasury the department said reuter 
acq	standard oil srd committee tried delay bid committee independent directors the standard oil unsuccessfully sought delay tender offer for standard shares british petroleum plc according offering documents offering document for its dlr per share offer describes discussions with douglas danforth who chairs special committee independent directors responsible for monitoring relations with has been owner pct stake standard for several years according the document the committee counsel said needed one two months evaluate the offering price danforth who chairman the westinghouse electric first learned interest acquiring the rest standard telephone call march five from sir peter walters chairman meeting march nine danforth informed that the special committee had hired first boston corp fbc its financial adviser and also retained independent counsel danforth concerns that the special committee did not have sufficient time were expressed walters telephone conversation and reiterated letter from counsel monday this week reuter 
earn	bankamerica says qtr net cut mln dlrs due brazilian loans 
earn	bankamerica says expects report profit for first quarter 
crude	mobil mob raises west coast crude postings mobil corp said raised its west coast crude postings effective today the buena vista light grade degrees api gravity was raised dlrs barrel dlrs bbl while the huntington beach light grade degrees was raised about dlrs bbl dlrs bbl the heavier wilmington grade degrees was increased dlrs dlrs bbl kern river crude degrees was increased dlr dlrs bbl mobil also said that effective today changed its gravity adjustment scale follows from degrees degrees api mobil will adjust its price per one tenth api degree below degrees api the company will adjust its price per one tenth degree crude grades from degrees api above degrees are unaffected reuter 
earn	strawbridge strw declares stock dividend strawbridge and clothier said its board declared seven pct stock dividend payable may holders record april earlier the company reported net income mln dlrs reuter 
earn	laidlaw declares three for two split boosts payout cts shr from four cts 
earn	transducer systems inc year shr profit cts loss cts net profit loss revs mln mln year shr profit seven cts loss cts net profit loss revs mln mln note reflects tax benefit reflects tax benefit for quarter and for year reuter 
earn	laidlaw transportation ltd ldmfa qtr net period ended february shr cts cts net mln mln revs mln mln six mths shr cts cts net mln mln revs mln mln avg shrs reuter 
acq	century business credit cty gets offer century business credit corp said received offer from stanley tananbaum chairman and chief executive officer take the company private transaction giveing shareholders dlrs per share cash there were shares outstanding december the independent directors said they will engage expert evaluate the fairness the offer reuter 
earn	laidlaw ldmfa splits stock hikes payout three for two stock split pay and record date subject shareholder confirmation may four qtly dividend cts four cts pay may record may one note dividends declared pre split shares laidlaw transportation ltd reuter 
interest	security pacific provident national lift prime security pacific national bank and provident national bank said they increased their prime lending rates quarter point pct they said the move effective immediately reuter 
earn	morgan says brazil action will reduce first quarter net about mln dlrs 
earn	houston industries inc hii increases div qtly div cts cts prior payable june record may reuter 
acq	emery eaf plans purolator pcc asset sales emery air frieght corp which has launched dlr share tender offer for pct purolator courier corp said would sell some purolator assets help pay the estimated mln dlr cost the stock purchase deal filing with the securities and exchange commission emery said would sell lease purolator air hub indianapolis ind which currently under construction and would divest purolator stant inc subsidiary indications interest for the assets have been received far emery said emery said would operate purolator subsidiary succeeded the takever but would integrate its air hub said plans finance its stock purchases with borrowings from chemical bank morgan guaranty trust new york bankers trust and salomon brothers holding inc the parent salmon brothers inc emery financial advisor emery said already has commitment letter from its banks for mln dlrs for the stock purchases unspecified amount internally generated funds would also used for the stock purchases added reuter 
earn	century business credit corp cty qtr shr cts cts net revs mln mln year shr dlrs dlrs net mln revs mln mln note revs includes dlr finder fee net includes gain from sale securities dividends dlrs from lease recalculations revs includes finder fee and gain from sale asset reuter 
acq	industries icx unit sell off more track illinois central gulf railroad subsidiary industries inc said will complete the sale the chicago missouri and western railway its mile line from joliet ill louis april the chicago missouri wholly owned subsidiary the venango river corp transportation holding company said the purchase price the line mln dlrs the chicago missouri will employ workers and start operation immediately upon closing the transaction reuter 
interest	first national bank boston bkb raises prime the first national bank boston the main banking unit bank boston said raising its prime lending rate pct from pct effective immediately reuter 
earn	gencorp takes action stock dividend gencorp inc said its board took action with respect two pct stock dividend its annual meeting yesterday due the press other business specifically the company pending takeover offer general acquisition corp formed afg industries inc and wagner and brown spokesman said the two pct stock dividend normally issued everly year was not issued february because the company was examining other dividend alternatives management said would give consideration this matter later time yesterday the company chairman william reynolds told shareholders would presenting alternative the dlrs share takeover offer within week reuter 
earn	morgan jpm places brazil loans nonaccrual morgan and inc parent morgan guaranty trust new york said that will place billion dlrs medium and long term loans brazil non accrual basis matching similar action bankamerica corp bac earlier today the move which follows brazil suspension interest payments billion dlrs commercial bank debt february expected reduce first quarter net income about mln dlrs which four mln dlrs represents interest accrued prior but still uncollected the bank said morgan earned mln dlrs the first quarter morgan also said that based current interest rates and assuming cash interest payments are not received for the rest the year net income would reduced about mln dlrs net income was mln dlrs although banks not have put loans nonaccrual until they are over days past due morgan said some the loans affected the brazil payment freeze may reach the day limit during the second and third quarters morgan said assumes talks between brazil and commercial bank lenders will proceed expeditiously and interest payments will resume the earliest practicable date reuter 
acq	gould gld completes sale division gould inc said has completed the sale its systems and simulations division the unit management for undisclosed price gould said the move part its plan divest its defense systems businesses and focus its computer and electronics sectors gould added that accounted for the division discontinued operation reuter 
acq	french firm has five pct calif water cwtr compagnie generale des eaux eaug french water waste treatment and disposal heating ventilation and air conditioning concern said has pct stake california water service filing with the securities and exchange commission compagnie generale said bought its california water shares for total mln dlrs for investment purposes while said might acquire more shares the company said has plans seek control reuter 
interest	major banks move higher pct prime most major banks today matched tuesday quarter point prime rate cuts citibank and chase manhattan bank the first prime rate boosts since mid most cited narrower spreads between the prime and funding costs justification analysts said the prime rate rises may have been triggered partly desire banks enhance profit margins given problems with developing country loans commenting the prime rate increases treasury secretary james baker told house appropriations committee that hope was temporary blip upward among the major banks which today announced prime rate increases pct were bankers trust chemical bank continental illinois national bank harris trust and savings bank irving trust manufacturers hanover trust marine midland and security pacific national bank other banking companies announcing prime rate rises included pittsburgh national bank texas commerce bank houston provident national bank first national bank boston florida federal savings and loan association and suntrust banks reuter 
earn	jem record inc jemr qtr jan shr three cts seven cts net mln revs mln mln six months shr five cts cts net revs mln mln reuter 
interest	union bank raises its prime rate pct the union bank subsidiary standard chartered plc said today was raising its prime lending rate pct from pct effective immediately reuter 
grain	usda grain inspection advisory committee meeting the federal grain inspection service advisory committee will meet here monday april the agriculture department said items the agenda for the meeting which scheduled begin edt are grain quality issues status proposed regulations financial matters and safety matters the department said the federal grain inspection service advisory committee composed members representing the grain industry who provide advice the administrator the federal grain inspection service reuter 
acq	deak buys johnson matthey commodities deak international foreign currency and precious metals firm announced the acquisition johnson matthey commodities new york from minories finance limited unit the bank england the purchase valued mln dlrs follows the recent acquisition london johnson matthey commodities limited deak said the new york firm will known deak international trading ltd the company said arkadi kuhlmann president and chief executive officer deak international said the purchase will expand deak operations precious metals and wholesale non ferrous metals trading reuter 
earn	belden and blake energy bbe qtr shr loss dlrs profit five cts net loss mln profit revs mln mln year shr loss dlrs profit cts net loss mln profit revs mln mln note qtr includes write off about dlrs cts and writdown assets mln dlrs year includes mln dlrs qtr writedown reuter 
acq	crown resources crrs plans energy unit sale crown resources corp said plans sell its oklahoma based oil and gas unit part its strategy focus developing precious metals properties the company said bought the wyona water flood oil and gas unit for dlrs crown said the wyona field fully developed with producing wells current oil production barrels day said adding that gas was produced for sale reuter 
acq	holdings mdc sells energy unit holdings inc said sold substantially all the assets its oil and gas unit mizel petro resources inc and affiliated partnerships for mln dlrs cash parker and parsley petroleum midland texas the company said that subject certain post closing adjustments expects post small profit the sale reuter 
earn	livingwell inc well year shr six cts three cts net mln mln revs mln mln note increase earnings due elimination preferred dividend requirements reuter 
acq	fidelcor ficr unit acquires lazere financial fidelcor inc fidelcor business credit corp subsidiary said reached definitive agreement acquire substantial portion the bank new england corp bkne lazere financial corp assets terms the acquisition were not disclosed the acquisition subject approval the federal reserve board fidelcor said would acquire most lazere loan portfolio and other assets including its miami office said plans hire the majority lazere employees reuter 
earn	sunstates corp sust qtr shr loss dlrs loss dlrs net loss mln loss mln year shr loss dlrs loss dlrs net loss loss mln note loss includes loss for discontinued oeprations loss mln dlrs net mln credit qtr includes loss mln dlrs for discontinued operations share amts relfect dividend requirements reuter 
earn	bii enterprises inc year nov net shr cts cts net revs mln mln reuter 
earn	scottish and york holdings ltd year loss shr loss cts loss dlrs net profit loss revs mln mln note shr after payment preferred stock dividends reuter 
acq	investment advisors have pct killearn kpi two executives memphis tenn investment advisory firm told the securities and exchange commission they have acquired shares killearn properties inc pct the total outstanding the executives mason hawkins and william reid who work for southeastern asset management inc said they bought their killearn stock with personal funds investment while they said they might increase their stake killearn properties they said they have plans seek control reuter 
earn	savoy industries inc savo year shr loss cts loss five cts net loss mln loss revs mln mln note net includes gain cts from discontinued operations net includes gain cts from discontinued operations reuter 
earn	american hoist and derrick aho qtr net qtr ended march shr profit cts loss dlrs net profit loss rev mln mln note qtr net includes extraordinary gain mln dlrs reuter 
acq	american barrick abx sells coal assets american barrick resources corp said sold two coal supply agreements and certain mining equipment representing substantially all the assets its two ohio coal mines peabody coal kentucky terms were not disclosed proceeds from the sale combined with the sale the company remaining coal assets should result full recovery its investments the operations the company said without further elaborating the sale will complete the planned disposition american barrick all its non gold assets said reuter 
acq	novamin board recommend breakwater bwrlf bid novamin inc said its board will recommend shareholders the takeover offer made breakwater resources ltd breakwater offering exchange one breakwater share for each two shares novamin the company said breakwater will issue about mln shares for all novamin shares presently issued and outstanding additional shraes breakwater will issued warrants and options novamin are exercised reuter 
acq	newmont mining corp reduces stake peabody newmont mining corp said completed the previously announced reduction its share peabody holding inc pct from pct newmont realized mln dlrs the transaction for newmont reported net income mln dlrs peabody the largest coal producer the had net income mln dlrs sales billion dlrs newmont doubled its ownership peabody january purchasing pct interest held the williams cos for mln dlrs the reduction resulted from completion earlier announced agreement peabody sell pct interest the company eastern gas and fuel associates exchange for all the coal properties owned eastern reuter 
earn	gasekt mrgc qtr dec shr loss cts profit eight cts net loss mln profit revs mln mln nine months shr loss cts profit cts net loss mln profit mln revs mln mln reuter 
earn	deltaus corp dlta year shr loss cts loss dlrs net loss mln loss mln revs mln mln note includes loss from discontinued operations and mln dlrs from disposal net asset solds reuter 
earn	derose industries inc dri qtr shr loss cts loss cts net loss loss mln revs mln mln year shr loss dlrs profit cts net loss mln loss mln revs mln mln reuter 
earn	revlon group rev reports results revlon group inc told the securities and exchange commission had net profits sales billion dlrs for the year ended dec revlon filing with the sec compared the results the five months ending dec that period lost mln dlrs sales mln dlrs earlier today macandrews and forbes group inc began dlr share cash offer for all common stock revlon does not own revlon today rose active trading macandrews controls pct the voting power for revlon said the loss applicable common stock after preferred dividends mln dlrs the net loss per share was cts compared net loss cts per share last year revlon said had operating profit mln dlrs compared loss mln dlrs the year earlier period the net includes provision for estimated loss dispositions mln dlrs compared mln dlrs the year earlier earnings before extraordinary items were mln dlrs reuter 
acq	lifetime lft exchange offer accepted lifetime corp said retirement housing corp has accepted its previously announced acquisition offer retirement will operate autonomously separate subsidiary reuter 
earn	manufacturers mhc puts brazil non accrual manufacturers hanover corp said placed billion dlrs medium and long term loans brazilian borrowers non accrual yesterday meaning that income will recorded only when actual cash payments are received result net income for the first quarter will reduced mln dlrs brazil which suspended interest payments its term debt february continues defer interest payments for the rest the year net income for the whole would reduced total mln dlrs bank accounting guidelines not require loans placed nonaccrual unless interest payments are past due days more however manufacturers hanover said that light current circumstances was more appropriate record income its brazilian loans only when cash payments were received added that believes brazil will reach agreement with its banks debt restructuring and that all interest payments will received later the company earned mln dlrs first quarter and mln dlrs for the whole the year reuter 
acq	galveston aquire mine property interests galveston resources ltd said agreed principle for option earn pct interest from hemlo gold mines inc certain mining properties known the interlake property subject regulatory approvals galveston said will earn pct interest spending minimum one mln dlrs exploration and development work december expects work will commence shortly and continue during the exploration season galveston also said granted hemlo gold options acquire two mln galveston shares said the options can exercised dlrs share december then dlrs share until december and then dlrs share until december separately galveston said agreed principle with noranda inc unit noranda explorations ltd for option earn pct interest major mineral property located the baie verte peninsula newfoundland galveston can earn pct interest spending six mln dlrs exploration and development work the property december the company also said granted noranda option purchase two mln galveston shares the options can exercised dlrs share until december then dlrs share until december and then dlrs share until december reuter 
earn	ocelot industries ltd year loss shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note loss includes extraordinary loss mln dlrs dlrs shr related writedown certain petrochemical assets and reduced tax gain mln dlrs cts shr results restated reuter 
earn	deutsche bank sees slow start deutsche bank dbkg has seen slow start after posting record profits management board joint spokesman wilhelm christians said credit business declined the first few weeks the year and the interest margin was squeezed further the weak german bourse saw earnings commission fall sharply and trading securities also fell but earnings from currency dealing were still satisfactory told news conference deutsche group partial operating profits rose billion marks from billion balance sheet billion marks after billion profits were swollen earnings from the placement the former flick group which have been estimated some one billion marks and from record profits trading the bank own account not included partial operating profits earnings from the flick transaction were booked through subsidiary and therefore showed part the interest surplus section current earnings from securities and participations the group this nearly doubled billion marks from billion usual the bank did not detail total operating profits but said that total operating profits including own account trading rose pct pct without the flick transaction the group and pct seven pct the parent bank banking analysts said this put group total operating profits some seven billion marks and parent bank operating profits over five billion marks christians said deutsche used the extraordinary earnings from flick pay record five mark bonus top its unchanged mark dividend the bank had decided against raising the dividend itself because the uncertain business outlook the end and developments far this year showed that was correct christians said west german banks rarely raise dividends unless they are sure they can maintain the increased payout subsequent years preferring use bonuses for one profits the bank also used its extraordinary earnings continue high level risk provision christians said disclosed group risk provisions rose mln marks from mln under german law disclosed provisions not necessarily reflect the full amount risk provisions management board joint spokesman alfred herrhausen said deutsche total debt exposure problem countries had fallen over six billion marks from billion because the fall the dollar agreed with questioner who asked over two thirds such problem country debt had been written off deutsche bank posted sharp rise holdings other securities billion marks from billion the parent bank christians said this billion mark rise was partly due its increased activity international share placements with some shares such those from fiat spa international placement last year remaining its books herrhausen said that concrete measures were planned place these shares and conclude the original placement reuter 
acq	deutsche agrees full takeover former eurasbank deutsche bank dbkg has agreed take over the outstanding pct deutsche bank asia the former european asian bank from creditanstalt bankverein cabv deutsche management board joint spokesman alfred herrhausen told news conference euras broke even and required funding from deutsche said gave details the deal with creditanstalt press reports that deutsche was planning takeover lloyds bank plc lloy were without foundation said herrhausen said deutsche had taken part the recent capital increase morgan grenfell group plc but had plans raise its pct share morgan grenfell banca america italia spa which pct was acquired from bankamerica corp bac late last year would consolidated this year and contribute further expansion deutsche business management board joint spokesman wilhelm christians said following ruling earlier this year from the federal high court deutsche had included its non bank holdings the balance sheet section participations christians said but christians said the bank still regarded shares these non bank companies investment rather than active participation parent bank total participations rose billion marks from comparable billion including rise billion from billion bank participations herrhausen said the grouping holdings the balance sheet this was was not first step floating them off separate holding company reuter 
earn	singapore banks say diversification key growth singapore major banks are diversifying and gradually shifting their asset holdings from loans debt instruments banking sources said the banks following the trend are the overseas union bank ltd united overseas bank ltd oversea chinese banking corporation and the development bank singapore ltd the shift towards securitisation has been helped volatile financial markets which have developed hedging facilities such floating rate notes and bonds for risk management said overseas union general manager loh hoon sun loh told reuters interview that singapore banks see limited growth credit risk more and more them are switching from term lending major growth areas such stockbroking and fee based income said major local banks ventured into stockbroking after being granted seats the stock exchange bankers said they are now moving into the new government securities market and the stock exchange singapore dealing and quotation system one foreign banker said the development bank and the overseas union bank ltd have become major players the equity market singapore loh said the banks participation the stock market has increased business transactions and provided long term growth for the market the banks are not competition for individual stockbroking firms because the increased business they generate added loh said the stock exchange singapore might expand equity issues much one billion dlrs this year because the increasing ability foreign and local market participants absorb new issues loh said oub investment management ltd subsidiary the overseas union bank ltd has teamed with firm launch the union global fund the fund for local investors seeking capital growth through diversified international portfolio will invest international shares with the emphasis and japanese markets said dbs securities singapore pte ltd subsidiary the development bank singapore has applied the hong kong stock exchange set hong kong stockbroking firm loh predicted fixed deposit and prime interest rates singapore will stay low this year result banks will forced provide fund management services for major clients seeking better returns said economic analysts and bankers are optimistic the major banks will show profits helped higher income from treasury and investment banking activities they expect the after tax profits oversea chinese and united overseas show stable growth four eight pct against respective gains four and seven pct overseas union profits are expected jump over mln dlrs from seven mln dlrs economists said the development bank after tax profits rose pct mainly due dividend mln dlrs paid national discount company ltd before became subsidiary the bank they said reuter 
interest	westpac raises indicator lending rate westpac banking corp new zealand said will increase its indicator lending rate percentage points pct from april westpac said statement the increase reflects high costs funding the bank said nervousness the wholesale deposit market creating uncertainty about the immediate outlook for interest rates liquidity expected remain tight over the next month and this will put upward pressure interest rates base lending indicator rates the other three trading banks range between pct and pct reuter 
earn	sanwa bank looks securities world operations the sanwa bank ltd three year business plan foresees securities and international operations making greater contribution operating profits bank official said the bank plan also emphasises retail and medium and small sized business operations told reuters officials fuji bank ltd and mitsubishi bank ltd outlined similar three year plans they said lower interest rates and financial liberalisation have cut profits from dealings with big firms nearly nothing they don need they can their own financing one official said sanwa bank plan forecasts that securities and international operations will contribute pct total operating profits the end the fiscal year ending march compared with pct fiscal the sanwa official said reuter 
earn	reckitt and colman plc pretax profits mln stg mln 
acq	and offered role new japan telecom company japanese businessman announced plans for new telecommunications firm which britain cable and wireless plc would core company however the plan unveiled senior federation economic organizations official fumio watanabe does not specify what stake cable and wireless would have the share holdings the core companies should equal watanabe said statement the actual percentage shareholdings should agreed the core companies said the eight core companies will provide directors for the firm the new company shall immediately set work the feasibility study constructing new cable for itself watanabe said watanabe has acted mediator between two rival groups one which included and seeking compete against kokusai denshin denwa ltd which now monopolizes japan overseas telephone business the post and telecommunications ministry has said wants only one competitor kdd and has backed watanabe efforts british source who declined identified further said the proposals could open the door further talks between and cawl and the other firms involved and had earlier rejected reported proposal which would have given five pct share the new telecommunications firm compared the less than three pct stake watanabe originally proposed and has pct stake one the two firms watanabe has proposed should merge the british source said the decision not specify the exact shareholdings the core companies could leave the door open for further discussion probably sensible approach their part the british source told reuters and has also been pushing hard for permission lay new cable between japan and the the proposed merger has sparked international row with british government sources threatening retaliatory action against japan for what they see discriminatory practices against foreign firms the sources said last friday that one option for britain would revoke licenses japanese banks and securities companies operating london the has also attacked the original merger plans saying that both rival consortia should licensed asked about participation other and european firms watanabe said they will not core companies but they wish they could participate under the japanese law total foreign participation would limited one third might wise for and join the new firm which has the support many influential backers and work within this for the realization their ideas watanabe told reporters the other core firms are mitsubishi corp mitt mitsui and mits sumitomo corp sumt matsushita electric industrial toyota motor corp toyo itoh and citt and pacific telesis international inc watanabe said that his latest proposal represented his final effort fails satisfy the british government will the japanese government explain its position said reuter 
money-fx	money market deficit forecast mln stg the bank england said forecast shortage around mln stg the money market today among the main factors affecting liquidity bills for repurchase the market will drain some mln stg while bills maturing official hands and the take treasury bills will take out around mln stg and rise note circulation some mln stg partly offsetting these outflows exchequer transactions and bankers balances above target will add some mln stg and mln stg the system respectively reuter 
earn	bayer world group pre tax profit billion marks billion official 
earn	bayer confident posting good results chemicals group bayer bayg said expects post another good result after raising pre tax profit new record high the company said that this was despite the mark further strengthening against the dollar and other currencies and despite increase competitive pressure the further progress our business will depend largely the extent which threats free trade materialise and the developments exchange rates raw material and energy costs bayer said world group pre tax profit rose billion marks exceeding the previous year record billion parent company pre tax profit increased billion from billion the company gave net profit figures any indication the likely dividend bayer paid mark dividend results one mark from year earlier bayer said that world group operating profit declined slightly against but non operating results showed further improvement bayer said that the decline world group turnover billion marks from billion reflected mainly the sharp fall the dollar against the mark lower prices the raw material side had also brought pressure selling prices added volume terms however sales rose slightly against the company said without giving details the western europe north america and far east regions developed well local currency but here too the translation local currency sales into marks distorted the picture especially the case north america said bayer said parent company volume sales were also higher although turnover fell pct billion marks capacity use was high the parent company resulting decline marginal unit costs this combined with savings raw material and energy costs helped offset falling prices and cost increases other areas the rise pre tax parent company profit was due lower extraordinary expenses and higher net interest income plastics organic chemicals polyurethanes and coating raw materials all developed well said turning the fourth quarter bayer said that world group turnover fell billion marks the last three months from billion the same period parent company turnover the fourth quarter fell pct billion marks with domestic turnover pct lower and foreign turnover pct lower exports accounted for pct turnover the quarter against pct the same quarter reuter 
acq	guinness sell retail interests guinness plc guin said that part new strategy for the company will selling its retail interests concentrate resources developing its international beverage businesses among the firms sold are martin and gordon drummond pharmacies the eleven convenience stores speciality food importer richter brothers and the health products company nature best dsl guinness said statement that the company strength was its well known beer and spirits brands several had good brand development potential including gleneagles champneys cranks hediard and and guinness publications guinness shares were trading after the announcement after closing yesterday reuter 
acq	compromise cited san miguel shares san miguel corp smc and united coconut planters bank ucpb have reached compromise disputed block mln shares smc the head government panel that controls the sequestered shares said ramon diaz chairman the presidential commission good government pcgg told reuters smc had offered price pesos per share for the block held trust the ucpb looks good diaz said but added several issues including the identity the ultimate buyers the shares had resolved before the pcgg gave its approval the sale the pcgg sequestration last year mln shares aborted smc bid buy them back from trading companies the ucpb group the commission said suspected the shares were actually controlled eduardo cojuangco associate former president ferdinand marcos cojuango who headed the boards both smc and ucpb when fled last year after marcos was toppled personally owned mln shares smc his holdings are also under sequestration the shares that smc now proposes buy from the ucpb are owned mln coconut farmers diaz said naturally not want them back into the hands marcos cronies pcgg sources said compromise would end row over down payment mln pesos made smc hong kong subsidiary neptunia corp ltd bid buy back the shares last year the ucpb had said the mln peso payment would forfeited because smc chairman andres soriano iii had failed fulfil his commitment buy back the shares originally negotiated price billion pesos pcgg sources said smc the philippines largest food and beverage manufacturer has agreed sell mln class shares from the mln shares australian brewer alan bond price pesos per share the pcgg sources said the proposed billion peso transaction billion pesos would offset against the mln peso down payment the mln pesos worth preferred shares ucpb held smc mln pesos uncollected dividends the ucpb shares and mln pesos advanced ucpb controlled trading companies the ucpb rejected original offer pesos per share made smc for mln shares which grew mln after pct stock dividend declared june last year spokesman for smc said the company member board met today discuss the proposed compromise the spokesman declined comment the outcome the board meeting saying the dispute was under arbitration president corazon aquino last month asked smc and ucpb set three man arbitration panel resolve the ownership issue the panel due submit its report april eduardo los angeles government nominee the smc board filed formal complaint before the securities and exchange commission last week accusing soriano and eight other directors violating fiduciary duty los angeles was said have opposed decision smc board last december assume the mln peso neptunia loan reuter 
earn	hoogovens net profit mln guilders mln official 
acq	rank makes increased avana offer final ranks hovis mcdougall plc rhml said was making increased and final offer for the avana group plc avna the company already holds about pct mln avana ordinary shares said statement the terms the offer will new rank hovis shares for every five avana ordinary shares valuing each avana share avana shareholders will entitled receive and retain the net interim dividend per avana share for the year ending march accepting avana shareholders will also entitled receive ranks hovis forecast net interim dividend for the financial year ending september ranks hovis said that full acceptance the increased offer would result the issue maximum mln new ranks hovis shares about pct the enlarged issued ordinary share capital the company the latest offer will lapse april ordinary shareholders avana who accept the increased offer will have the opportunity elect for cash for all part their holdings the basis cash for each avana share ranks hovis said the cash required for the cash alternative would met one several methods for the first mln avana shares received opting for the cash alternative ranks hovis would make cash payment from its own resources for cash alternatives more than mln avana shares morgan grenfell agent for participants will make separate offer purchase per share net expenses mln ranks hovis new shares which such shareholders will entitled under the increased offer this equivalent per avana ordinary addition ranks hovis will make further cash payment per avana ordinary avana shares traded after the announcement from last night close reuter 
acq	cable unimpressed new japanese telecoms offer cable and wireless plc cawl said new proposals unveiled japan for become core member merged telecommunications firm compete for telecommunications contracts did not remove the group objections the suggestions federation economic organisations official fumio watanabe was formal announcement proposals made earlier this week and reported the japanese press cable has pct stake one the two groups trying compete against japan kokusai denshin denwa ltd which monopolises japan overseas telephone business but cable spokesman said still believed merger the two consortia would impracticable they are like oil and water said the japanese authorities want only one competitor and have proposed that the two consortia band together the issue has been taken the british government test case the openness japanese markets watanabe latest proposals said that the eight core companies the new group should have equal share holdings but added that they could work out the precise percentages amongst themselves the reports earlier this week said that cable would offered five pct stake from originally proposed three pct despite the apparent differences stakes offered the cable spokesman said the two offers appeared essentially the same cable shares gmt were quoted nine pence firmer reuter 
interest	bundesbank leaves credit policies unchanged 
trade	japan will odds while trade lopsided japan doing all can solve its trade problems with the united states but the two nations will remain odds long the trade account lopsided japan favour senior official said long there external imbalance there will trade friction and harsh words between the two governments the foreign ministry official told reporters last year japan racked billion dlr surplus with the united states and economists said they not see falling significantly any time soon washington announced plans last week slap mln dlrs tariffs japanese electronic goods raising the spectre trade war between the two countries take the current situation very seriously said the official who declined identified the basic stance the japanese government tackle the issues with all available resources the united states has accused japan reneging agreement that called stop selling cut price computer microchips world markets and try import more american semiconductors tokyo has denied the charges the foreign ministry official refused rule out japanese retaliation america went ahead with its threatened tariffs the middle this month but said that any response would accordance with international law and japan international obligations added that both japan and the united states must take account the impact their dispute their own and the world economy reuter 
acq	decision expected royal ordnance sale defence secretary george younger expected announce the government decision the sale state owned arms manufacturer royal ordnance today parliamentary sources said the government originally intended float the munitions and explosives concern the stock market but last july said private sale was more appropriate way dispose the firm the bidders for the company were british aerospace plc bael and engineering group gkn plc gkn royal ordnance sold its leeds tank factory last summer vickers plc vick defence electronics manufacturer ferranti plc fnti and shipping and property group trafalgar house plc thsl both pulled out the bidding shortly before last month deadline royal ordnance made pre tax profits mln stg sales mln stg calendar its first full year commercial operation the company has assets around mln stg and employs sites britain other state held companies earmarked for privatisation this year include engine maker rolls royce plc and the british airports authorities plc reuter 
earn	hoogovens expects clear loss koninklijke nederlandsche hoogovens staalfabrieken said expected clear loss for the company reported its profits were pct lower mln guilders than the year before turnover was pct lower than the main reason the fall turnover was the lower rate the dollar the company said the lower costs for raw materials and energy resulting from the lower dollar could not compensate the fall revenues costs billion guilders billion depreciation mln mln operating profit mln mln financial charges mln mln extraordinary loss rpt mln mln crude steel production five mln tonnes mln aluminium production tonnes same reuter 
acq	toshiba regrets link with access issue toshiba corp tsba said regrets its plan enter the business facsimile and telephone market may caught diplomatic row over the position cable and wireless plc cawl the japanese market britain considering how retaliate against japan attempt prevent cable and wireless from taking major position japanese international telecommunications venture matter timing regrettable that this has been linked with the question market access japan toshiba spokesman told reuters toshiba information systems ltd toshiba subsidiary said yesterday planned enter the market under the toshiba own brand name and had applied for government approval toshiba has supplied equipment manufacturers for sale under their brand names since last year the toshiba spokesman said the sale such equipment was not comparable cable and wireless efforts take stake the new japanese telecommunications firm they are matters different category said reuter 
interest	westpac raises indicator lending rate westpac banking corp new zealand said will increase its indicator lending rate percentage points pct from april westpac said statement the increase reflects high costs funding the bank said nervousness the wholesale deposit market creating uncertainty about the immediate outlook for interest rates liquidity expected remain tight over the next month and this will put upward pressure interest rates base lending indicator rates the other three trading banks range between pct and pct reuter 
trade	japan warns anti sentiment trade row japan sending three man team washington try halt threatened trade sanctions that officials warn could spark wave anti sentiment here the team will lay the groundwork for high level emergency talks next week aimed defusing increasingly bitter row over trade computer microchips officials said the sanctions are against the free trade system ministry international trade and industry miti director general noboru hatakeyama told reporters adding these measures are taken the atmosphere japan against the united states would become not good before other officials were more blunt the action will have significant impact the growing anti feeling here another miti official said senior foreign ministry official who declined identified told reuters the threats have undercut those the government who argue for conciliation there very strong argument japan that since the united states imposing tariffs unilaterally why should bother doing anything said anything will bashed the senior official sounded pessimistic about the likelihood prime minister yasuhiro nakasone defusing anger over japanese trade practices when visits washington april don think trade friction will solved all sudden the visit said nakasone widely expected present package measures president reagan help contain frustration over japan large trade surplus but the senior official played down those expectations reuter 
trade	japan will odds while trade lopsided japan doing all can solve its trade problems with the united states but the two nations will remain odds long the trade account lopsided japan favour senior official said long there external imbalance there will trade friction and harsh words between the two governments the foreign ministry official told reporters last year japan racked billion dlr surplus with the united states and economists said they not see falling significantly any time soon washington announced plans last week slap mln dlrs tariffs japanese electronic goods raising the spectre trade war between the two countries take the current situation very seriously said the official who declined identified the basic stance the japanese government tackle the issues with all available resources the united states has accused japan reneging agreement that called stop selling cut price computer microchips world markets and try import more american semiconductors tokyo has denied the charges the foreign ministry official refused rule out japanese retaliation america went ahead with its threatened tariffs the middle this month but said that any response would accordance with international law and japan international obligations added that both japan and the united states must take account the impact their dispute their own and the world economy reuter 
interest	bankamerica bacp raises prime rate pct bankamerica corp following moves other major banks said has raised its prime rate pct from pct effective today reuter 
acq	news corp nws starts harper row hpr bid news corp ltd australia said has started its previously announced tender offer for all shares harper and row publishers inc dlrs per share newspaper advertisement the company said the offer conditioned received least pct harper and row shares the offering and withdrawal rights expire april unless extended merger the tender price follow the offer which has been approved the harper and row board harper and row has granted new corp option buy new shares pct interest dlrs each news corp said the merger agreement were terminated under certain circumstances news would entitled mln dlr cash payment last month theodore cross offered acquire harper and row for dlrs per share but was soon outbid harcourt brace jovanovich inc which offered dlrs per share late the month harper and row said its board had received expressions interest from number domestic and foreign companies reuter 
earn	international technology itx sees qtr loss international technology corp said expects report loss for the fourth quarter ended march about cts per share compared with year earlier profit cts the company blamed the expected loss regulatory and permitting issues that limited the full utilization hazardous waste treatment cites califoirnia continued startup delays for major remediation projects the writeoff investment subsidiary and settlem ent with the california attorney general office and department health services the company said the settlement relates regulatory violations alleged the environmental protection agengy and the california health services department the company vine hill and panoche treatment facilities northern california said under the agreement will pay the state dlrs civil penalties over two year period and pay dlrs over five years local medical facilities part community awareness and emergency response program developed local communities the expenses will charged against fourth quarter results said the company said has agreed well make compliance and public safety capital expenditures about dlrs said has now received operating permit for new cubic yard landfill cell its imperial county calif from the health services department the company said the panoche facility remains closed but expected reopen for liquid and sludge receipts the near future but said receipts solid material which had accounted for the majority the revenue the site could restricted until pending resolution capacity issues the panoche site permit reuter 
earn	westlb luxembourg reports lower net profit westdeutsche landesbank girozentrale welg said its wholly owned luxembourg subsidiary westlb international posted decline net profit mln marks from mln year earlier westlb international will pay mln mark dividend westlb down from mln year earlier the dividend was lower than because the record profit the previous year could not repeated due changed market conditions said increased funds were also allocated for provisions business the first three months developed positively added westlb international set aside mln marks for international credit risks from mln marks bringing the total amount provisions shown the balance sheet mln marks operating profit fell mln marks from mln balance sheet total fell billion marks from billion reflecting the lower dollar and the fact that credit business redemptions were not fully offset new lending the statement said westlb international business with private customers showed pleasing expansion last year this development was aided cooperation between the bank and the savings banks the west german state north rhine westphalia where parent bank westlb based deposits non banks rose more than pct total billion westlb international said plans expand its range services for private clients reuter 
acq	aloha inc buyout completed aloha inc said its leveraged buyout corp which acquired pct aloha common and pct aloha preferred tender offer that concluded december has been completed for dlrs per common preferred share controlled aloha chairman hung ching vice chairman sheridan ing and president maurice myers reuter 
interest	bank france leaves intervention rate unchanged pct official 
crude	energy npeeq says trustee appointed energy corp said the bankruptcy court has indicated will appoint trustee oversee the company chapter bankruptcy proceedings said hopes the appointment will thwart hostile actions being pursued two unsecured creditors whose claims the company objects further said the nielsen well duchesne county utah has tested barrels oil per day owns pct working interest reuter 
acq	cpc international cpc sells south african unit cpc international inc said has completed the sale its south african subsidiary robertsons pty ltd consortium european and south african investors for undisclosed amount excess book value due the increasing difficulty operating there said the operation accounted for less than two pct worldwide sales billion dlrs the company said small royalties expected result from use cpc trademarks the new owners will utilized for social programs south africa said significant impact earnings expected from the sale reuter 
earn	giant yellowknife mines ltd qtr net shr cts cts net revs mln mln year shr cts dlrs net revs mln mln reuter 
earn	north east insurance neic qtr loss shr loss cts loss dlrs net loss loss year shr loss cts loss dlrs net loss loss note year net includes realized investment gains dlrs dlrs reuter 
earn	mellon bank expects report first quarter loss mln mln dlrs 
interest	first chicago fnb raises prime rate first chicago corp said its first national bank chicago raised its prime rate pct from pct effective immediately reuter 
earn	mellon bank says will cut dividend cts shr from cts 
acq	american barrick abx sells ohio assets american barrick resources corp said sold two coal supply agreements and substantially all assets its two coal mines ohio peabody coal henderson kentucky for undisclosed price the company said proceeds from this sale together with the sale the remaining coal assets should allow fully recover its investment the operations said the transactions will complete its previously announced plan sell all non gold assets reuter 
interest	comerica cmca raises prime rate comerica inc said raised its prime interest rate pct from pct effective april reuter 
earn	north east neic may violate capital rules north east insurance said due the magnitude its losses and may found violation minimum capital and surplus requirements officials maine and new york and subject sanctions and administrative actions those and other states the company today reported loss dlrs after realized investment gains dlrs compared with loss dlrs after investment gains dlrs its fourth quarter net loss was dlrs compared with dlrs the company said its fourth quarter and year losses resulted from additions loss reserves reuter 
earn	electromedics inc elmd year net shr profit nil loss three cts net profit loss revs mln avg shrs mln mln backlog note current year net includes tax credit dlrs reuter 
earn	electromedics elmd take qtr charge electromedics inc said expects take dlr charge against first quarter results due the conversion debentures the company said however expects positive operating comparisons for the period electromedics lost dlrs last year first quarter reuter 
earn	sheldahl inc shel qtr feb net shr cts four cts net sales mln mln six mths shr cts nine cts net sales mln mln avg shrs reuter 
earn	mellon mel sees large first quarter loss mellon bank corp said expects report loss for the first quarter the range mln mln dlrs dlrs share the company also said intends reduce its second quarter common stock dividend cts share from cts mellon said will make provision for loan losses the first quarter mln dlrs reflecting about mln dlrs charge offs and mln dlrs additions the loan loss reserve will also put mln dlrs brazilian loans cash basis resulting interest reversals mln dlrs the first quarter mellon earned mln dlrs dlrs share chairman david barnes said the loan charge offs and increased provisions address four areas concern the bank wholesale lending portfolio the energy sector developing countries some basic industrial companies and several commercial real estate businesses mellon said the loan loss reserve the end the first quarter estimated mln dlrs about pct the loan book compared with mln dlrs pct total loans the end mellon said its primary capital ratio the end the first quarter will line with the end figure pct well excess regulatory guidelines non performing loans quarter end are estimated billion dlrs pct the loan portfolio compared with mln dlrs pct the end barnes noted that mellon has bigger involvement energy based lending than many other banks because the lack substantial recovery energy prices this year especially natural gas prices was felt prudent increase reserves and take losses loans this sector this action relates both loans companies directly involved energy well loans real estate developers home builders and financial institutions the southwestern united states barnes said for ldc loans said mellon had removed about mln dlrs fully current argentine loans from cash basis but had charged off about mln dlrs private sector mexican debt said mellon which was ordered december quit brazil because its refusal renew some short term credit lines expects participate efforts helpt brazil and other sovereign borrowers reschedule their debts loans basic industries were not major contributors the increase non performing assets first quarter charge offs but mellon said remains concerned about the absence strong recovery steel and related industries the increase reserves the dividend cut and continued management cost cutting are aimed ensuring that mellon has the financial strength deal with current uncertainties barnes said cannot predict when the uncertainties that presently trouble will end but are confident are managing them aggressively added reuter 
money-fx	money market given mln stg late help the bank england said had provided the money market with around mln stg late assistance this takes the bank total help today some mln stg and compares with its estimate mln stg shortage reuter 
earn	kloeckner sees further growth engineering kloeckner werke klkg should have turnover this year around billion marks though more growth likely engineering coming years management board chairman herbert gienow said told news conference the trade fair here that the mid turnover should reach between six and seven billion marks mainly through acquisitions totalling several hundred million marks kloeckner reported march higher profits its engineering sector which enabled raise profits nearly third the year mln marks from mln reuter 
acq	first federal fort myers ffmy make purchase first federal savings and loan association fort myers said its board has executed letter intent acquire first presidential savings and loan association sarasota fla for dlrs cash the company said definitive agreement expected executed may and the transaction expected completed year end the purchase price subject increase dollar for dollar basis the extent that the net worth first presidentail exceeds dlrs the time closing the company said 
acq	eli lilly and plans sell its elizabeth arden subsidiary 
earn	san diego gas sdo sees decision hurting net san diego gas and electric said california public utilities commission decision reconsider allowing only mln dlrs the mln dlrs san onofre nuclear station costs disallowed makes likely that earnings will reduced least cts per share the company said the decision disallow the other mln dlrs not changed earnings would penalized another cts reuter 
acq	eli lilly lly sell elizabeth arden unit eli lilly and said its board decided sell elizabeth arden inc wholly owned subsidiary that manufactures and markets cosmetics and fine fragrance products said the business which had sales mln dlrs when was acquired had sales last year mln dlrs pct from had operating profits about mln dlrs lilly said retained morgan stanley and help evaluate offers lilly said expects use the after tax proceeds from the sale its cosmetics business for general corporate purposes including the repurchase from time time its common stock warrants the open market statement lilly chairman richard wood said this strategic decision was reached the basis our belief that the future the corporation resources including its research activities should focused its other business which have high technology life sciences orientation reuter 
acq	key centurion keyc completes acquisitions key centurion bancshares inc said has completed the previously announced acquisitions union bancorp west virginia inc and wayne bancorp inc reuter 
acq	and cbtb completes acquisition and bancshares inc said has completed the acquisition first community bancshares inc tifton which assets mln dlrs reuter 
earn	general public utilities resumes dividends common stock pays cts 
acq	zimbabwe government buys into astra the zimbabwe government has bought pct the equity astra corporation for mln dlrs from netherlands based bommenede houdstermaatschappij nederland astra announced astra owns five companies with interests engineering paint manufacture and the distribution farm machinery and equipment motor vehicles and earthmoving equipment the company now locally controlled with pct its equity owned the government pct the dutch firm six pct stake was donated the astra corporation workers trust the government and the dutch company reuter 
earn	utilicorp recommends three for two split dividend increase and additional class stock 
earn	gpu gpu declares first dividend since general public utilities corp said its board declared dividend cts per share common stock its first dividend since omitted payment february result the three mile island nuclear accident the company said was able declare the dividend due progress the cleanup three mile island unit two company spokesman said gpu expects continue declaring dividends quarterly basis with the rate depending the progress the cleanup and other company operations gpu said the dividend modest size representing less than third the amount paid dividend the average electric utility the operating companies need return the capital markets for debt and preferred stock this should tend produce lower cost and better terms the company said the dividend payable may holders record april reuter 
earn	britton lee blii sees first quarter loss britton lee inc said expects report loss lower sales than had anticipated for the first quarter the company earned dlrs before dlr tax credit sales dlrs the year ago period 
acq	jacobs takes majority stake cote jacobs suchard said acquired comfortable majority interest its takeover bid for cote belgium leading producer chocolate statement jacobs said had acquired all the shares tendered the time its offer expired march the offer for pct cote belgian francs per ordinary share was agreed with the belgian firm board jacobs spokesman declined specify the size the majority stake and said jacobs had not decided what would about acquiring the outstanding shares reuter 
trade	yeutter says should stress trade negotiations long term trade policy 
earn	holiday hia recapitalization approved holiday corp said the new jersey casino control commission has approved its recapitalization plan providing the final regulatory approval needed the company said expects announce next week the record date for the special dlr per share dividend shareholders will receive under the plan and pay the dividend during the month april with the exact timing depending the closing financing arrangements holiday operates harrah marina hotel and casino atlantic city reuter 
earn	comp card international inc cucd qtr net january end oper shr profit cts loss six cts oper net profit loss revs mln mln avg shrs mln mln year oper shr profit cts profit cts oper net profit profit revs mln mln avg shrs mln mln note net excludes extraordinary tax charge dlrs credit dlrs quarter and credits dlrs dlrs year reuter 
trade	yeutter stresses importance trade talks trade representative clayton yeutter stressed the importance trade negotiations open foreign markets rather than trade restrictions statement the senate finance committee the long term cannot repeatedly bludgeon other nations into opening their markets with threats restrictions rather must able negotiate credibly for global liberalization yeutter said yeutter did not mention the recent trade sanctions against japanese semiconductors his testimony the pending trade bill yeutter said the trade bill should increase competitiveness aid trade negotiating leverage and avoid provoking foreign retaliation urged congress reject provisions that would mandate retaliation against foreign unfair trade practices yeutter emphasized the importance the new multilateral trade negotiating round and called congress quickly approve extension negotiating authority want open foreign markets and establish and enforce rules international competition not foster dependence protection and subsidies said reuter 
trade	must explain farm policy france says the and the european community could enter into new trade dispute unless urgent action taken explain farm policy the congress french official sources said they said prime minister jacques chirac planned urge commission president jacques delors send team experts washington soon possible chirac returned paris this morning after three days talks new york and washington which trade and protectionism featured prominently the centre the new trade tension commission proposal tax vegetable oils the sources said reuter 
earn	centronics corp cen year loss oper shr loss cts loss cts oper net loss loss total income nil note resultes restated for discontinued operations and exclude discontinued operations loss dlrs gain dlrs reuter 
earn	sandsport data services inc sand qtr net feb end shr nil nil net revs avg shrs mln mln nine mths shr nil nil net revs avg shrs mln mln reuter 
interest	north carolina federal ncfs raises prime rate north carolina federal savings and loan association said has raised its prime rate pct from pct effective yesterday following moves major banks reuter 
earn	health images inc himg qtr loss shr loss one loss seven cts net profit loss revs year shr loss cts loss cts net loss loss revs note share after preferred dividends reuter 
earn	shell canada sees better profit lower spending shell canada ltd pct owned royal dutch shell group anticipates improved level earnings assuming continuation prices and margins that existed the end and early the company said the annual report shell previously reported operating profit fell mln dlrs excluding mln dlr unusual gain from mln dlrs the prior year the company also said capital and exploration spending mln dlrs will mln dlrs lower than last year due the uncertain short term outlook 
earn	utilicorp ucu seeks split stock utilicorp united inc said its management recommending the board directors three for two stock split and increase the quarterly cash dividend rate currently cts per common share the company said also submitting shareholders its may annual meeting proposal authorizing additional class common stock utilicorp said the board directors will vote the split its next regularly scheduled board meeting may added that its semi annual four pct stock dividend will not change utilicorp said the proposal create new class stock approved will authorize mln shares class common stock with par value one dlr the stock could issued various series with terms rights and preferences designated the board each instance utilicorp said the company said the new stock intended enhance utilicorp ability carry out future financings investments acquisitions for other corporate purposes reuter 
earn	american realty arb sets record date for offer american realty trust said its board has set april the record date for its previously announced rights offering and the rights will issued april and expire may shareholders will able subscribe for shares for each share held price dlrs per share reuter 
earn	carter wallace inc car sets regular payout qtly div cts cts prior pay june record april reuter 
interest	morgan jpm increases prime rate morgan and inc said raising its prime lending rate pct from pct effective today most major banks are now posting pct rate citibank was the first announce increase tuesday reuter 
interest	anz bank cut australian prime rate pct australia and new zealand banking group ltd anza said will lower its australian prime lending rate pct from effective april the cut the second announced the bank the last week following cut from pct effective last monday the anz new rate will the lowest prime set the four major trading banks and matches the rate set one the smaller foreign banks january and left unchanged during the rise primes over the last three months other primes range from pct including those the other three majors reuter 
interest	anz bank raises indicator lending rate the australia and new zealand banking group ltd new zealand said will raise its indicator lending rate pct from pct april bank statement said the continuing rise the cost funds had passed the lending customers anz managing director brian weeks said recent developments the money markets are deep concern all participants market participants are understandably nervous and cautious about future developments these include flows and from the government relating the privatisation seven government departments april welcome the flexibility evident the reserve bank move raise the system cash target yesterday but feel that reduce the present nervousness the cash target and primary liquidity level need raised further said the reserve bank has raised its daily cash target mln dlrs from its normal mln dlrs call rates have traded high pct this week because business year end march balance date book squaring westpac banking corp new zealand announced yesterday would increase its indicator lending rate percentage points pct april reuter 
acq	mim completes part norddeutsche affinerie buy mim holdings ltd mima said has issued mln shares preussag prsg complete the previously announced purchase pct norddeutsche affinerie from preussag terms the acquisition pct norddeutsche affinerie from degussa dgsg are currently being resolved mim said statement norddeutsche affinerie will then owned pct metallgesellschaft metg and pct each mim and degussa but mim said and metallgesellschaft are proposing further arrangement give them pct each reuter 
trade	swedish prime minister china visit boosts trade big expansion bilateral trade expected result swedish prime minister ingvar carlsson visit china official china foreign economic relations and trade ministry official said told the china daily that petroleum coal cotton non ferrous metals and electric engines could help balance the trade running over three one sweden favour total trade reached mln dlrs last year pct according chinese statistics swedish sources said major paper mill projects and aviation agreement would discussed during carlsson one week visit reuter 
acq	skandia international buys stake nevi baltic skandia international holding the overseas offshoot swedish insurance group forsakrings skandia skds said was buying pct share the london quoted property and financial services company nevi baltic plc financial details were given nevi baltic with turnover mln stg and total assets mln stg controlled norwegian finance company nevi which will retain pct stake the british unit skandia said statement the deal subject formal approval from the swedish central bank the statement added reuter 
ship	australian tug crews delay foreign container ships tug crews are preventing the movement foreign flag container vessels and out the ports sydney melbourne and fremantle shipping sources said they said maritime unions imposed bans late wednesday for reasons that are obscure but seem linked with claims for pay rise above the dlrs week awarded the arbitration commission nationally all workers recently only about vessels are being delayed but the bans will affect container terminal movements and will disrupt liner schedules they said the dispute goes the commission monday they said reuter 
acq	horiz agrees mln stg bid from bass bass plc bass and horizon travel plc said terms have been agreed for offer worth around mln stg for horizon bass the offer values each horizon share some bass ordinary share this based price the bass share quotation gmt april horizon said its board and financial advisers consider the offer fair and reasonable and the board will unanimously recommend acceptance its shareholders horizon shares jumped after the announcement while bass shares dipped bass has for some time regarded overseas holidays area for expansion and pursuit this objective acquired pct holding horizon when set the jointly owned hotel company both bass and horizon said that bass resources will enable horizon businesses expand strongly this year march bass said had agreed sell its pontins holiday camps newly formed private company pontins ltd for some mln stg reuter 
interest	belgium cuts treasury certificate rates the belgian national bank cut interest rates one two and three month treasury certificates pct from pct effective immediately the bank said telex message the bank last adjusted its short term treasury certificate rates march when also reduced rates for all three periods points national bank spokesman said the latest adjustment would bring the rates closer line with currently prevailing interbank interest rates the spokesman said was too early predict whether the move would herald reduction discount rate which currently stands eight pct when the bank holds its regular weekly meeting which the rate discussed next wednesday the discount rate generally moves tandem with the three month treasury certificate rate however there formal link and the discount rate was not adjusted following the march changes reuter 
crude	closure sweden refinery forecast swedish finance ministry committee forecast that british petroleum plc may have close its refinery gothenburg because anticipated worsening the swedish petroleum industry competitiveness said report that the future the swedish refining business was bleak due the steady drop domestic oil consumption since the mid possible tightening rules sulphur content and competition from norway mongstad facility den norske stats olieselskab statoil stat when its expansion completed the the committee said the refinery which lacks sulphurisation plant was likely closed sold unless costly investments were made enhance the facility capacity refine broader range products but the committee noted that capacity utilisation had recent years been above that the european refining industry average the plant which sweden state owned petroleum has pct started and has annual capacity mln tonnes there was nobody british petroleum immediately available for comment 
earn	hindustan lever profits rise for shr rupees seven pretax profit mln mln net profit mln mln sales billion billion div pct pct tax mln mln dividend payable june the company pct subsidiary unilever plc the full name the company hindustan lever ltd hinu reuter 
money-fx	money market deficit revised upward the bank england said has revised its estimate today shortfall mln stg from mln reuter 
money-fx	stoltenberg says paris accord policy continue west german finance minister gerhard stoltenberg said the currency agreement reached paris february had been successful and would continued stoltenberg told journalists before attends next week international monetary fund meeting washington that the strategy stabilise currencies around current levels has proven its worth and will also determine future developments stoltenberg declined comment specifically what would consider undervalued dollar but said dollar around marks created problems for west germany exports stoltenberg said studies international organisations had made clear that especially the and japan major efforts remained necessary support adjustments foreign trade balances via necessary corrections economic policy one would benefit after years over valuation the dollar fell into the other extreme that strong under valuation said stoltenberg said west germany had keen interest swift agreement between the and japan concerning the current trade dispute over semi conductors asked whether believed the markets would test the paris currency accord stoltenberg did not comment specifically but noted that much what had been discussed paris had not been published the paris declaration did not state the levels which central banks the major industrialised countries would intervene stoltenberg said that everything had been carefully considered said had nothing further add stoltenberg also appeared suggest that west germany was now longer under any pressure from the government stimulate its economy declined respond specifically question this subject but said you must attach particular importance the consensus which was reached paris the minister nevertheless added that would make clear during his trip washington that west germany nominal trade figures gave false impression about actual trade flows stoltenberg noted that bonn exports fell nominal two pct while its nominal imports fell pct west germany imports dropped largely because foreign currency developments and the cheaper price oil and led record trade surplus last year however stoltenberg said that real terms west germany exports volume had increased pct while real imports had risen much stronger pct this way west germany had made its contribution economic stability stoltenberg added stoltenberg noted the government expected imports rise real four five pct with exports stagnating said was too early revise official forecasts for west germany economic growth this year the government has forecast unchanged pct rise gross national product the kiel institute leading research body still expecting growth three pct but some other research institutes have revised forecasts down below two pct stoltenberg said the wide range predictions showed how many imponderables had taken into account and said drastic changes official forecasts were needed reuter 
acq	pioneer sugar says csr takeover offer too low pioneer sugar mills ltd said considered the proposed dlrs share cash takeover offer announced csr ltd csra march too low view the group uiie and prospects csr bid for the pct pioneer mln issued shares does not already hold values the entire grop culd make alternative share offer but has not yet announced terms pioneer recommended statement that shareholders retain their stock pending the board response once receives full details the csr offer reuter 
earn	german chemical industry sees lower profits west germany chemical industry fears mounting risks will hurt earnings but hopes turnover will stabilize around billion marks josef strenger board member the industry association vci said strenger management board chairman bayer bayg told news conference the hanover trade fair the main dangers were stagnation world trade the lower dollar well crude oil and commodity prices prospects higher operating costs were also seen harming earnings said turnover took considerable downturn the start after falling pct the chemical industry which relies heavily exports was badly hit mark appreciation and lower turnover was mainly due foreign exchange losses strenger said exports fell pct billion marks and competition from and british firms increased savings from lower oil and commodity prices were eaten price competition and increased costs strenger said operating profits german chemical firms were slightly worse than the year before but the improved financial and balance sheet structure after three good years neutralized the negative impact strenger said the industry would try increase production the make for lost export possibilities out west germany the lower dollar was the main reason for pct fall exports north america pct drop latin america and pct plunge the middle east exports western europe eased pct and far east exports due economic revival japan dropped pct strenger noted that the industry had lost public confidence following several cases chemical pollution the rhine late last year reuter 
crude	norsk hydro saga seek drilling rights gabon norwegian oil companies norsk hydro nhy and saga petroleum sago said they have applied for offshore exploration drilling licenses gabon africa west coast saga petroleum said has applied for pct share and operatorship one block adding finnish oil company neste neoy pct spain hispanoil pct and the world bank international finance corporation ifs pct have joined saga fill remaining shares the application saga spokesman roy halvorsen told reuters expected gabonese officials would reply the application easter halvorsen said this the first time saga has applied operate opec member gabon continental shelf adding that italian oil company agip heading group applicants separate bid for the same license norsk hydro has also applied for undisclosed share single exploration license which oil company tenneco has already been assigned operatorship company spokesman bjoern tretvoll said reuter 
interest	top discount rate bill tender rises pct 
money-fx	treasury policies said unchanged departure the departure james baker closest aide deputy treasury secretary richard darman will not change the course washington domestic and international economic policies officials said darman who has worked alongside baker for six years was widely credited with helping him mastermind initiatives currency management and international economic cooperation officials said darman also played key role shepherding president reagan sweeping tax reform plan through the congress but they flatly dismissed suggestions that his departure the investment banking firm shearson lehman brothers signaled the baker team was breaking that the treasury secretary himself might leave soon really does not mean that took the opportunity came one official said another commented baker will miss him but not going stand his way there has been widespread speculation since last autumn that darman sought wall street job officials said darman felt the passage tax reform late last year marked appropriate moment bow out baker acknowledged darman would sorely missed dick darman has contributed mightily the success this administration over the past six years and his departure represents substantial loss said officials admitted darman absence would undoubted blow baker who has relied him for policy advice both the white house and reagan second term the treasury one aide once described darman indispensable baker baker widely thought want more stable currency system and darman generally credited officials other nations baker leading theorist this issue favouring target zones limit currency fluctuations earlier this year monetary sources said the treasury unsuccessfully sounded out allies target zone system but official disputed the assessment that with darman gone baker would abandon international initiatives baker work head reagan economic policy council spearheading trade policy and his skills negotiating with the democrat controlled congress will before darman strength was not economist but political strategist and that baker strength too the official said there were already indications that baker who throughout his time government has relied closely knit circle advisers has moved swiftly find successor one possibility that baker might turn george gould who holds the number three treasury position under secretary gould another close confidante has known baker for years before joining the treasury november gould was partner the wall steet firm wertheim and and formerly headed donaldson lufkin and jenrette securities corp the darman announcement came the eve the semi annual meetings the international monetary fund and the world bank where many policies darman helped shape will debated helped baker devise the september plaza agreement when the united states japan west germany france and britain curbed the dollar strength the pact was major turning point policy ending period disdain for economic cooperation and intervention currency markets darman also worked some other baker initiatives like the tokyo summit agreement intensify coordination economic policies among the leading industrial countries and the recent paris agreement stabilise currencies and stimulate global growth these policies are collectively aimed redressing the huge gap between japan and west germany trade surpluses and the united state massive trade deficit that policy goal still remains prime objective the reagan administration and will not change with darman departure reuter 
interest	top discount rate bill tender pct the top accepted rate discount the weekly treasury bill tender rose pct from pct last week applications the lowest accepted price stg were allotted around pct the amount applied for and applications above that price were allotted full the bank england said total mln stg treasury bills was offered for sale this week last week the average rate discount was pct reuter 
money-fx	ministers will discuss strengthening ems float european community finance ministers and central bankers meet belgium this weekend discuss strengthening europe joint currency float amid continuing worries about turbulence foreign exchanges belgian finance minister mark eyskens who will host the informal talks told reuters the ministers and central bank chiefs would discuss the situation currency markets the light the february agreement among leading industrialised countries stabilise exchange rates around present levels interview eyskens said felt the paris accord between the united states japan west germany france britain and canada had proved itself more less workable but doubts over its effectiveness and durability have been growing since fears trade war between the united states and japan over computer microchips pushed the dollar record low against the surging yen early this week the talks the belgian resort knokke are being held coordinate the positions monetary issues and third world debt ahead the spring meetings the international monetary fund and world bank washington next week the gathering begins tonight with dinner but the main discussions will take place tomorrow continued international currency turbulence could undermine plans for reinforcing the european monetary system the joint float holding eight currencies within narrow fluctuation bands which will feature high the weekend agenda eyskens has repeatedly said that europe needs period calm world currency markets and particular more stable dollar before can set about strengthening the ems make more resilient against exchange rate swings the ems has been taking battering over the last year the falling dollar has sent funds surging into the dominant ems currency the west german mark forcing ministers undertake two major realignments parities within nine months the interview eyskens made clear was hoping for wide ranging discussion the future the eight year old ems the basis proposals for bolstering drawn the monetary committee and the committee central bank governors the committees were asked come with the proposals after the last reshuffle ems exchange rates january eyskens repeated calls for the european currency unit the fledgling currency the core the system take over the mark dominant role the ems proposal that has met with cool response west germany said commission president jacques delors would report the meeting problems raised plans liberalise capital movements fully within the nation bloc such the need for harmonising taxes and banking controls eyskens said liberalisation capital movements without strengthening the ems would element destabilisation the community said the crucial issue the debate was whether member states were willing push further towards the goal monetary integration the basis ems that included management exchange rates some kind common institution instead national central banks present plans for the creation such institution foreseen the ems founding fathers have been thwarted the reluctance some countries notably west germany gove their sovereignty the monetary field ems development has also been held britain refusal far join the system core exchange rate mechanism reuter 
acq	altex aii sets acquisition computer firms altex industries inc said has agreed principle buy pct two privately held affiliated computer retail companies for undisclosed amount altex said the denver based companies had revenues over seven mln dlrs last year they are integrated management data systems inc which sells accounting software systems the oil and gas industry and integrated management systems micro distribution division inc which distributes micro computer products altex said expects close the transaction which subject financing july reuter 
ship	australia tug crews bar foreign container ships tug crews are preventing the movement foreign flag container vessels and out the ports sydney melbourne and fremantle shipping sources said they said maritime unions imposed bans late wednesday for reasons that are obscure but seem linked with claims for pay rise above the dlrs week awarded the arbitration commission nationally all workers recently only about vessels are being delayed but the bans will affect container terminal movements and will disrupt liner schedules they said the dispute goes the commission monday they said reuter 
earn	stanline inc stan regular dividend qtly div eight cts eight cts prior qtr payable april record april company said its board intends declare cash dividends quarterly and plans pay five pct stock dividend annually following the close each fiscal year the initial five pct stock dividend was paid december holders record november reuter 
acq	talking point santa southern sfx santa southern pacific corp may have more difficulty combining its two railroads than fending off possible takeover henley group heng which has accumulated almost five pct stake the real estate and railroad conglomerate analysts said takeover speculation has surrounded santa since henley disclosed its stake the company earlier this week but analysts and santa official were skeptical takeover its intention analysts also said the company has strong defenses that would easily deter any suitor one those being its problems combining its two railroad properties which hang regulatory limbo richard fischer merrill lynch and inc said that santa december had mln dlrs cash and cash equivalents while its long term debt capital was just over pct this gives them plenty borrowing power said which could used against unwanted suitor henley group chairman michael dingman has said wants take major positions undervalued natural resource companies also told reuters interview seeking acquisition from two billion eight billion dlrs santa officials don appear concerned that henley might launch takeover would not characterize the atmosphere around here one concern one santa executive said about henley think wrong assume dingman has formed firm strategy with santa said mark hassenberg who covers henley for dlj securities analysts say the potential santa land assets are likely realized slowly they add that santa efforts merge its two railroads remain regulatory limbo sidetracking many its strategic plans for the foreseeable future these realities they said support the henley group statement that its santa stake only investment the more pressing problem facing santa overcoming difficulties merging its two railroads the atchison topeka and santa railway and southern pacific transportation the merger would create the nation second longest railroad last july the interstate commerce commission icc denied the merger anticompetitive grounds the company since has granted trackage sharing rights four western railroads meet the icc concerns and persuade reopen the hearings its three year old struggle merge the lines guess the commission will decide three six weeks whether reopen hearings fischer said believe they made effort satisfy the icc objections said but doing they haven pleased everyone before they had burlington northern their side now burlington opposed the way trackage rights are set the hearings are reopened analysts predicted will take six nine months for everyone have their say and another year for the icc decide santa the midst mln share stock buyback program begun has bought back mln shares february when had mln shares outstanding spokesman said among the shares repurchased were two stakes owned norfolk southern one mln shares bought and another mln shares one analyst said james voytko paine webber believes santa could fight off the henley group with its cash and credit citing the share buybacks from norfolk southern said one santa options threatened could buy the henley stake indeed possible that dingman sees this low risk opportunistic investment voytko said people who follow santa have given values dlrs dlrs share said dlj securities hassenberg but certain that dingman mind the company worth more than that breakup value reuter 
grain	japan study urges foreign access farm markets japan should increase foreign access its farm products market while encouraging further development domestic agriculture government report said the white paper agriculture for the year ended march said active participation writing world farm trade rules the next round general agreement tariffs and trade gatt talks will help prepare japan improve access agriculture ministry sources said the paper marked easing japan tough position agricultural imports which stressed the need for strict controls some products maintain self sufficiency food japan now produces only pct its annual grain needs down from pct some years ago official figures show the paper said japanese agriculture has been slow improve productivity and demand supply imbalances the relative shortage farmland japan mainly responsible for higher domestic prices said the strong yen has meant lower input material prices but has also resulted higher agricultural imports which has worsened working conditions among part time farmers the paper said this could make difficult improve the industry structure the paper said solve these problems and reduce farm product prices more reasonable levels japan should try restructure the the agricultural sector improve productivity and make self supporting said reuter 
earn	hilton hlt qtr earnings about pct hilton hotels corp said its first quarter net income rose pct paced strength both hotels and gaming based preliminary results the company said net income rose about mln dlrs cts share from mln dlrs cts share initial three months reuter 
acq	pioneer sugar says csr takeover offer too low pioneer sugar mills ltd said considered the proposed dlrs share cash takeover offer announced csr ltd csra march too low view the group uiie and prospects pioneer recommended statement that shareholders retain their stock pending the board response once receives full details the csr offer reuter 
acq	general partners willing pay dlrs share for gencorp 
money-fx	stoltenberg says paris accord policy continue west german finance minister gerhard stoltenberg said the currency agreement reached paris february had been successful and would continued stoltenberg told journalists before attends next week international monetary fund meeting washington that the strategy stabilise currencies around current levels has proven its worth and will also determine future developments stoltenberg declined comment specifically what would consider undervalued dollar but said dollar around marks created problems for west germany exports said studies international organisations had made clear that especially the and japan major efforts remained necessary support adjustments foreign trade balances via necessary corrections economic policy one would benefit after years over valuation the dollar fell into the other extreme that strong under valuation said stoltenberg said west germany had keen interest swift agreement between the and japan concerning the current trade dispute over semi conductors asked whether believed the markets would test the paris currency accord stoltenberg did not comment specifically but noted that much what had been discussed paris had not been published the paris declaration did not state the levels which central banks the major industrialised countries would intervene stoltenberg said that everything had been carefully considered said had nothing further add reuter 
interest	average discount rate bill tender pct the average rate discount today treasury bill tender rose pct from pct last week the bank england said this week mln stg offer day bills met applications mln stg the bank said applications for bills dated monday friday the top accepted rate discount pct were allotted about pct next week mln stg treasury bills will offered replacing mln stg maturities reuter 
trade	imf world bank meet amid new inflation fears amid new concerns about inflation interest rate increases and trade confrontations finance ministers and central bankers meet next week discuss deteriorating global debt and economic situation the meetings under the auspices the international monetary fund and world bank come interest rates are turning higher and the already weak dollar has sunk further upsetting bond and stock markets uncertainty growing about the vitality the global economy and whether the heavily indebted countries can continue carry the burden their growing debt without vast new assistance monetary and diplomatic sources said there are signs any new debt initiative the sort that treasury secretary james baker unveiled months ago seoul the works the strategy has drawn serious challenge from brazil which suspended interest payments billion dlrs commercial bank debt last month the banks have responded laying the groundwork for writing down brazilian loans separately french prime minister jacques chirac visit earlier this week with president reagan sounded out the administration plan funnel worldwide grain surpluses the very poorest states the french plan certain discussed the ministers detail during next week meetings and will undoubtedly embraced the developing countries there interest the part some countries for looking the support the special problems the very poorest countries because their position extreme reagan administration official said suggested washington was open disussing the issue the meetings will also assess the success the baker debt initiative which called for new funding help debtor countries grow out their problems the largest industrial countries have been attempting coordinate economic policy the hope controlling the decline the dollar trade and budget deficits and other problems the same time the industrial countries see little evidence strengthening economic activity and the fund forecasts they will grow pct the united states sees pct growth for itself continuing its expansion for fifth year and has asked other industrial countries stimulate their economies these issues directly affect the debt problem and the ability the debtor countries grow out their difficulties recent years markets have absorbed the exports developing country allowing them earn critical foreign exchange but the united states wants cut its trade deficit running record billion dlrs and pressing others import more from developing countries the discussions from april six will wide ranging touching everything from interest rates the impact development loans the environment according monetary sources the talks will include examination trade protectionist pressures the wake decision the reagan administration place some mln dlrs tariffs microchip products from japan the sources said the move accelerated the dollar decline financial markets grew alarmed that trade war was the offing there concern that the action prompted charges that japan has been selling computer chip products below fair market value and has kept its own market closed imports further undermining the international trading system the same time the ministers will discuss the fundamental price weakness basic commodities the export mainstay many developing countries the called group five industrial countries the united states japan west germany france and britain will gather for the first time since their february talks paris where they agreed keep the dollar from sliding further the five will joined later italy and canada for further debate economic policy coordination part the paris accord surplus countries such japan agreed stimulate their economies while america said would reduce its federal budget deficit other major issues the meetings include bid have larger say approving loans the inter american development bank strengthening the link between loans and economic policy changes debtor nations washington also pressing the world bank take more account the environment when making loan for dams and other projects the new head the bank barber conable has said this issue being reviewed and will part reorganization plan for the bank now being prepared reuter 
acq	canrad cnrd acquires measurement systems canrad inc said acquired the measurement systems division page wilson corp for undisclosed amount cash canrad said the acquisition expected increase its annual revenues about mln dlrs reuter 
acq	pantera pant acquires restaurants pantera corp said closed its agreement acquire ten pizza restaurant locations southeastern colorado said the purchase price was dlrs which was paid cash and stock reuter 
acq	general partners raise bid for gencorp general partners said was prepared raise its bid for gencorp inc dlrs cash per share from dlrs per share letter from general partners william reynolds chairman and chief executive officer gencorp the company stated that gencorp could prove the company was worth more general partners would willing consider even higher price general partners also left open the possibility alternative all cash offer general partners told gencorp believed shareholders would better served smaller cash price with security representing continuing long term interest gencorp prospects would willing discuss alternative specifically general partners said was prepared discuss acquisition giving shareholders continuing interest aerojet general valued business gencorp reuter 
earn	mangood corp mab year oper loss oper shr loss loss dlrs oper net loss loss sales mln mln avg shrs note earnings exclude gain restructuring dlrs dlrs share reuter 
earn	american west bank first qtr net net assets mln mln deposits mln loans mln mln note earnings per share and deposits figure not supplied company reuter 
acq	donnelly dny sell cable system donnelly and sons said reached agreement with adams russell inc aar sell adams its rockford ill cable system for undisclosed price donnelly said expects the deal close about days subject regulatory approvals and other conditions the cable system serves about subscribers the communities rockford loves park machesney park cherry valley morristown and winnebago county ill donnelly said reuter 
earn	biomet inc bmet qtr feb net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
earn	eac industries inc eac qtr oper loss period ended jan oper shr loss cts loss dlrs oper net loss loss sales mln mln year oper shr loss cts loss cts oper net loss loss sales mln mln note earnings exclude loss sale discontinued operations dlrs one share gain dlrs cts share the quarter and gains dlrs cts share dlrs dlr share for the year reuter 
earn	wessanen foresees strong profit growth dutch dairy and general foods manufacturer koninklijke wessanen wess said planning further world wide acquisitions and forsees strong profit growth over the next years company chairman gerrit van driel told journalists the presentation wessanen report already expected first quarter profits show increase the company last month reported pct increase net profits mln guilders after mln this was achieved despite pct drop the dollar guilder value van driel said van driel said profits would have been nine mln guilders higher the currency had remained its average level guilders turnover billion guilders was mln guilders down because the lower dollar and lower raw material prices total turnover was billion guilders activities accounted for pct turnover compared with pct wessanen now has separate businesses the out total world wide van driel said the company would continue active takeover policy the but would wary about paying more than its current price earnings ratio times net profit added that wessanen teams were seeking acquisition possibilities brazil taiwan thailand and china said the company had ample cashflow mln guilders and would necessary make new share issues van driel said expected turnover mln dlrs said balanced foods and green dairy taken over late last year have combined annual turnover mln dlrs which was not included the account all sectors saw strong growth resulting pct increase operating income mln guilders key this growth was the successful introduction new products which were greatly enhanced number consumer oriented acquisitions van driel said consumer products represented pct total turnover compared with pct van driel said the company which already listed the london zurich basle and geneva stock exchanges well amsterdam aims quoted frankfurt and dusseldorf may van driel said van driel stressed that while these listings would not accompanied new share issues they provided easy vehicles for the company raise capital for future expansion estimated that pct the company shares were foreign hands the company turnover about mln dlrs made listing one the new york exchanges logical next step van driel said without elaborating despite dairy restrictions wessanen which produces around pct all dutch cheese saw good growth prospects for its dairy sector within europe van driel said reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days pct days pct days pct days reuter 
interest	money rates international summary apr fed funds broker loan bills cds dir comm paper dir international call month month ldn fft par unav unav unav zur ams tok 
acq	mart selling kresge mccrory mart corp said agreed sell most the kresge and jupiter stores mccrory corp subsidiary privately held rapid american corp said the agreement covers stores states including inventory and fixtures the price depends the amount the inventory that will the stores the closing date mart said will continue operate the stores until early june when mccrory will take over with interruption service the newly acquired kresge and jupiter stores will renamed mccrory and mccrory currently operates stores states reuter 
earn	tandy tan quarter revenues pct tandy corp said consolidated sales and operating revenues for the third quarter ended march totaled nearly mln dlrs pct from mln dlrs last year the company said third quarter earnings will released the latter part april tandy said march sales and oprating revenues totaled mln dlrs pct from march mln dlrs said retail operations revenues rose mln dlrs last month from mln dlrs year earlier sales stores existence more than one year increased pct reuter 
earn	philip morris recommendations the stock philip morris cos rose today following recommendations first boston corp and morgan stanley and traders said philip morris gained first boston analyst was unavailable for comment morgan stanley david hill said just assumed coverage philip morris and placed his recommended list becasue its attractive earnings growth and because the stock selling discount the market based morgan figures hill expects morris earn dlrs share this year and dlrs morris earned dlrs share reuter 
acq	kleer industries sell cosmetics unit kleer industries said the company board authorized the sale its neslemur its cosmetic and toiletries company the company said evaluating two separate proposals and will complete the sale within days reuter 
acq	memory protection mpdi completes acquisition memory protection devices inc said completed its acquisition the assets and liabilities bogen division lear siegler for dlrs cash under the newly structured company memory said expects report consolidated sales mln dlrs mln dlrs and should profitable before allowing for extraordinary items related the acquisition reuter 
acq	pont sell cleveland plant pont said agreed sell its cleveland chemical plant the oldest site currently operated the company two employees terms were not disclosed closing expected the second quarter following approval definitive agreements products made the plant represent less than one pct pont annual sales said quilon chrome complexes and volan bonding agents will supplied the plant pont under contract established the plant was acquired pont the plant longer fits the company long term strategy pont said reuter 
interest	spain raises call money rate pct the bank spain said raised its rate for overnight call money pct from pct with immediate effect today daily auction for assistance funds the move followed comments yesterday central bank governor mariano rubio who said money supply growth was too fast the bank said later that was leaving its rate for special assistance funds from its second window unchanged pct surprising operators who had expected increase there too reuter 
earn	federal fff qtr feb net shr dlr cts net mln revs mln mln avg shrs mln mln nine mths shr dlrs dlrs net mln mln revs billion mln avg shrs mln mln reuter 
earn	flowers industries inc flo hikes payout qtly div cts cts prior pay may record april reuter 
earn	fine art acquisitions ltd faaa qtr net shr three cts three cts net sales avg shrs year shr cts cts net sales mln mln avg shrs note year net includes gain dlrs one cent share from tax loss carryforward reuter 
acq	gerber geb sets deadline for unit buyout gerber products said has given management its cwt inc trucking subsidiary days pursue leveraged buyout the subsidiary said cwt inc which has operations the midwest and southeast has annual revenues approximately mln dlrs reuter 
earn	anchor financial corp qtr net shr cts cts net assets mln mln deposits mln mln note earnings per share for affected issuance shares common stock december reuter 
earn	tsr inc tsri qtr feb net shr seven cts four cts net revs nine mths shr cts cts net revs mln mln reuter 
acq	time talks cable news consortium nicholas president and chief operating officer time inc told security analysts the company now engaged talks join consortium cable companies that will invest cable news network nicholas declined give any details but said announcement might ready few days also declined say whether the investment would made time inc american television and communications corp public company which time owns majority stake cable news network owned turner broadcasting system tbs reuter 
interest	sallie mae adjusts short term discount note rates the student loan marketing association said its rates short term discount notes were follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days pct days pct days reuter 
interest	freddie mac adjusts short term discount rates the federal home loan mortgage corp adjusted the rates its short term discount notes follows maturity rate old rate maturity days pct pct days reuter 
earn	maverick restaurant corp mavr qtr loss ended jan shr loss cts loss one net loss loss revs year shr loss cts loss two cts net loss loss revs mln mln note current periods include charge mln dlrs cts for restaurant closings reuter 
earn	graphic media inc gmed year net ended jan shr nine cts eight cts net revs mln mln avg shrs note restated reuter 
earn	time earnings may dlrs share time inc chief financial officer thayer bigelow told security analysts the company comfortable with wall street estimates that earnings will range dlrs dlrs per share time reported earnings dlrs per share including number special items bigelow said adjusting the results for the special items and also removing the earnings american television and communications corp atcma time earned dlrs per share turner broadcasting system inc said the investment the cable consortium would turner broadcasting not directly cnn the consortium would infuse mln dlrs turner broadcasting return for pct equity interest ted turner chairman would retain pct interest turner broadcasting spokesman said bigelow said the company continuing its previously announced mln share repurchase program and has bought back mln its own shares said shares were purchased the first quarter average price dlrs per share bigelow said the company will always have share buyback program place whenever believes better long term investment than starting acquring business but did not give any specifics further repurchases beyond the mln shares already announced the subject acquisitions richard munro chairman and chief executive said the company not interested investing over the air broadcasting but continues look all areas which currently engaged munro said book publishing area that interested time the company purchased scott and foresman its biggest acquisition ever nicholas president and chief operating officer said the company might interested relatively small book business said following the recent agreement for the sale harper and row the news corp ltd nws there may pieces that murdoch doesn want referring news corp chairman rupert murdoch asked the company sami business for sale munro said delicate subject and looking all the options sami marketing information service for the food industry published reports have stated could worth much mln dlrs bigelow said that time home box office added subscribers last year and the trend continuing the first quarter however said hbo results the quarter will down slightly but the first quarter there was special gain the hbo unit nicholas said that hbo and cinemax had combined subscriber growth for last year also said the tax rate will remain just under pct because the repeal investment tax credits and higher state and local taxes said sees decrease the tax rate five six percentage points munro said the company does not plan increase its dividend trygve myhren chairman and chief executive american television and communications said the unit looking getting involved the home shopping video area would foolish not player there said said the company had talks with home shopping network inc hsn prior that company public offering last year but nothing came the talks reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days reuter 
ship	agency reports ships waiting panama canal the panama canal commission government agency said its daily operations report that there was backlog ships waiting enter the canal early today over the next two days expects due scheduled transit end day backlog average waiting time tomorrow super tankers regular vessels north end hrs hrs south end hrs hrs reuter 
earn	land end inc leys votes initial payout land end inc said its board declared dividend cts share payable april record april the company first dividend since became public entity last october reuter 
acq	allwaste alws acquire service firm allwaste inc said agreed principle acquire all outstanding stock company the industrial service business for mln dlrs common stock did not identify the company acquired reuter 
acq	soo line soo sell lake states division soo line corp said agreed sell its lake states transportation division the newly formed wisconsin central ltd the division conducts rail operations over about miles railroad minnesota wisconsin michigan and illinois soo line said january was seeking bids for the property terms were withheld but soo has estimated that the transaction will result one time after tax loss mln dlrs reuter 
crude	says plans close swedish refinery the british petroleum plc said had plans close its refinery gothenburg despite forecasts swedish finance ministry committee that might planning such move the committee said the refinery future looked bleak because the swedish petroleum industry competitiveness was expected worsen unless invested and because the effects possible tightening rules sulphur content but said the unit which sweden petroleum has pct stake had performed well both technically and financially and including the first quarter current restrictions sulphur emissions and known future plans for both sweden and export markets did not cause any serious problems said statement the refinery started and has annual capacity mln tonnes reuter 
earn	pope and talbot pop sees higher qtr net pope and talbot inc said expects first quarter earnings total about one dlr per share compared with year earlier loss nine cts per share each the company business segments contributed the sharp improvement pope and talbot said the wood products company also said expects release first quarter results later this month reuter 
acq	stars star gets stores agreement stars inc said completed its acquisition video centers previously owned cvs international inc and located circle corp ckp stores conjunction with the acquistion circle also granted the exclusive right install video cassette rental centers all existing circle stores well future stores for period seven years stars said the company also said currently has total centers operation and expects increase the total june reuter 
earn	sterling drug inc sty increases payout qtrly div cts cts pay june record may note company said this the largest dividend increase years reuter 
acq	warburg pincus declines symbion symb bid warburg pincus capital investment partnership said told representatives symbion inc would not increase the dlr per share cash price has offered for the company filing with the securities and exchange commission warburg pincus said one its top executives rodman moorhead who also symbion director met april with symbion financial advisor rothschild unterberg towbin inc discussion the offer warburg pincus said moorhead told the meeting there are plans raise the dlr bid moorhead told the rothschild officials that warburg pincus considers the offered price fair one warburg pincus said last month warburg pincus launched tender offer buy mln symbion common shares reuter 
acq	california firm has five pct modulaire modx pbs building systems america inc anaheim calif company told the securities and exchange commission has acquired shares modulaire industries pct the total outstanding common stock pbs whose subsidiaries design make sell and lease nonresidential relocatable modular buildings said bought the stake for dlrs acquire equity interest modulaire while evaluates modulaire depending several factors pbs said may decide buy additional modulaire common shares reuter 
acq	boise cascade bcc completes sale unit boise cascade corp said completed the previously announced sale its consumer packaging division sonoco products sono for approximately mln dlrs reuter 
earn	kentucky central declare stock dividend kentucky central life insurance said the company said will declare pct stock dividend monday accordingly said filed registration statement with the securities and exchange commission for proposed offering three mln shares its class non voting common stock which reflects the anticipated dividend proceeds will used for general purposes reuter 
acq	allied signal ald sell electronics unit allied signal inc said agreed sell its amphenol products unit subsidiary lpl investments group lpli wallingford conn investment company for mln dlrs cash closing expected soon pending appropriate approvals the company said lpl indicated that closing warrants will sold which when exercised will reduce its stake the subsidiary amphenol acquisition pct the company said lisle ill based amphenol had sales about mln dlrs makes brand name interconnection products lpl also said merrill lynch and has committed buy mln dlrs subordinated and preferred debt the new lpl unit according allied signal canadian imperial bank commerce has committed mln dlrs senior debt financing said allied signal said december was offering for sale amphenol and six other operating units its electronics and instrumentation sector merrill lynch needham and and lazard freres served financial advisors said reuter 
acq	occidental oxy unit sells division occidental petroleum corp occidental chemcial corp said sold the process chemicals division acquired part the september purchase diamond shamrock chemicals henkel kgaa dusseldorf west germany terms were not disclosed the division makes specialty industrial chemicals said later industry sources said the division which had worldwide sales some mln dlrs last year was sold for just under mln dlrs reuter 
acq	firm ups italy fund ita stake pct lloyds investment managers ltd london based investment firm said raised stake italy fund shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission lloyds said bought the additional italy fund common shares since november for total mln dlrs another shares the stake are held affiliate said said its dealings italy fund stock are for investment purposes only and that has current plans increase decrease its current stake reuter 
acq	investor has five pct sage drilling sage arthur appleton chicago investor told the securities and exchange commission has acquired shares sage drilling inc pct the total outstanding common stock appleton said bought the stock for dlrs for investment purposes depending several circumstances appleton said may buy more sage common shares sell some all his current stake reuter 
acq	cis technologies cih sell shares swiss cis technologies inc said executed formal share purchase agreement with swiss reinsurance zurich switzerland under terms the agreement swiss will acquire mln newly issued cis stock dlrs share mln dlrs this purchase represents pct the outstanding shares swiss will acuqire the shares immediately and remaining shares will bought after due diligence report completed auditors the transaction expected complete june reuter 
earn	copley properties inc cop increases dividend qtly div cts cts prior payable april record april reuter 
interest	fhlbb says mortgage rates continue decline the federal home loan bank board said home mortgage rates fell from early february early march their lowest point nine years but the rate decline was slower than had been recent months the bank board said the average effective commitment rate for fixed rate mortgages for single family homes and pct loan price ratio with maturity least years was pct early march the rate was four basis points lower than month ago only one eighth the size decline the previous month the bank board said rates for adjustable rate mortgages decline eight basis points from early february pct early march the bank board said the drop was far less than the basis point decline the previous period the agency said the average effective interest rate all loans closed major mortgage lenders declined nine basis points from early february early march the agency said the fall brought the rate pct was the lowest since december said the effective rate for arms was pct basis points below month earlier for fixed rate loans was pct basis points below month earlier the agency said reuter 
acq	beneficial bnl unit sale approved beneficial corp said the sale its american centennial insurance subsidiary first delaware holdings inc was approved the delaware insurance department under the transaction american centennial will receive cash infusion mln dlrs including the settlement tax sharing agreements with beneficial corp beneficial said will also receive mln dlrs from beneficial international insurance another beneficial subsidiary being purchased the management led group first delaware the company said reuter 
earn	itt canada ltd year net shr dlrs dlrs net mln mln revs mln mln note shr after preferred dividends itt corp itt owns pct itt canada common shares reuter 
acq	union protest dart supermarkets sgl bid the united food and commercial workers said that more than rank and file members the union will demonstrate monday dart group corp headquarters protesting dart proposed billion dlr takover supermarkets general sgl supermarkets best known for its pathmark chain supermarket drug stores the new york and new jersey area and also owns rickels home centers the union said that firmly against the dart bid because workers have always ended with raw deal the current takeover mania union statement said not intend allow our members pick the tab for supermarket general executives and the bankers the dart group who stand make millions dart controlled the haft family washington which last year made bid for california based safeway stores inc the hafts lost but walked away with least mln dlrs profits analysts estimate the union said that dart safeway bid forced major restructuring safeway pay the hafts and their lawyers and caused loss thousands jobs reuter 
acq	fcs laboratories fcsi terminates deal talks fcs laboratories inc said merger discussions with unnamed privately held company the health care field have ended without agreement the previously announced negotiations began last august the company said disappointing spend much time these negotiations and have them fail said fcs chairman nicholas gallo iii but the discussions could not produce deal acceptable our board the context the company stronger financial position today compared six months ago gallo said fcs will stop actively seeking potential merger partners but will respond serious inquiries are determined follow our plan restore this company profitability said continue actively searching for potential acquirers inherently forces postpone the implementation critical decisions which are part the plan the company which has common shares outstanding reaffirmed expects profitable the second half the fiscal year ending september reuter 
interest	white house says interest rates reflect market the white house said the rise interest rates was unfortunate general sense but reflected market forces there always movement and down and the basic fact that believe the economy strong and growing and there will always fluctuations the interest rate but the economy sound and good shape spokesman marlin fitzwater said citibank raised its prime rate one quarter point and the move was followed other banks reuter 
earn	regal petroleum ltd rplo year shr loss nine cts net loss mln revs dlrs note due change fiscal year prior qth and year cannot presented comparable basis loss includes writedowns approximating mln dlrs reuter 
earn	canterbury press inc year nov shr cts cts net revs note net includes dlrs gain from tax credit and includes gain dlrs gain from credit reuter 
earn	graphic media inc gmed year shr nine cts cts net revs mln mln note restated for reversal certain tax benefits and reflects preferred stock dividend requirements reuter 
earn	richardson electronics rell qtr feb net shr cts cts net rev mln mln nine months shr cts cts net rev mln mln note fiscal per share data reflects dilutive effect shares issued for april convertible debenture conversion company full name richarson electronics ltd reuter 
earn	diversified human resrouces group hire year shr loss five cts profit cts net loss profit revs mln mln note includes extraordainy credit cts reuter 
acq	mid state mssl first federal deal mid state federal savings and loan association said and first federal savings and loan association brooksville ffbv reached definitive merger agreement previously announced brooksville shareholders will get cash and stock exchange for their shares the transaction expected completed during the summer reuter 
acq	memotec data completes teleglobe acquisition memotec data inc said completed the previously announced mln dlr acquisition teleglobe canada from the federal government memotec data said teleglobe which has provided canada overseas telecommunications services since now becomes teleglobe canada inc unit memotec teleglobe president and chief executive jean claude delorme will continue the same post the company said addition the sale price the government will receive teleglobe accumulated cash mln dlrs and special mln dlr dividend making total proceeds mln dlrs reuter 
trade	japanese open talks semiconductors and japanese officials meet tomorrow try settle dispute over semiconductor trade and cut short the mln dlr penalty tariffs president reagan has ordered imposed japanese exports but officials held out little hope that any accord could reached before the tariffs per cent from about five per cent are take effect april the customs bureau last week started levy bond the japanese goods that reagan ordered penalized the penalties would retroactive march reagan said march when ordering the tariffs that hoped the japanese would soon end their unfair practices semiconductor trade and that sanctions could lifted technical meetings are held today and tomorrow with meetings more senior level scheduled for thursday and friday public hearings the sanctions are set for april the japanese aides here for the technical talks include shigeru muraoka director general international trade policy the ministry international trade and industry miti and masashi yamamoto deputy director general the information and machinery bureau meeting with them will glen fukushima director the japan office the trade representative office and jim gradoville trade representative office industry and services the two sides the thursday and friday talks will headed deputy trade representative michael smith and miti vice minister makoto kuroda reuter 
acq	ameron amn adopts shareholder rights plan ameron inc said its board adopted rights plan designed protect shareholders from potentially unfair takeover tactics the plan calls for distribution one right for each its outstanding common shares and each right entitles the holder buy one one hundredth share newly authorized series junior participating cumulative preferred stock exercise price dlrs ameron said said the rights are exercisable group acquires pct more its common stock announces tender offer for pct more its shares reuter 
acq	fcs laboratories fcsi ends merger talks fcs laboratories said its merger talks with another unidentified company the health care field ended without agreement the talks began last august the company said the company also said will longer actively seek out potential merger partners but will respond serious inquiries reuter 
trade	minister looks ease tension with japan the government hopes for breakthrough the deadlock with japan over trade policies during next week visit tokyo corporate affairs minister michael howard political sources said howard who leaves for japan tomorrow told reuters will try promote understanding trade issues during his visit meanwhile britain will examine letter from japanese prime minister yasuhiro nakasone promising personal help solving the row over firm bid win significant role japan telecommunications market government sources said tensions have risen following britain decision arm itself early with new statutory powers which says could used against certain japanese financial institutions britain reacted optimistically first the letter from nakasone prime minister margaret thatcher seeing signal that would work towards ensuring satisfactory outcome the bid launched cable and wireless plc government officials said but this view has since been clouded reports from tokyo that nakasone assurances really constituted little more than politeness the face british anger they added reuter 
trade	conable warns protectionism might spread world bank president barber conable expressed concern that trade protectionism the heart new showdown between the united states and japan might spread throughout the industrial world but interview with reuters conable said the action the united states slap tariffs certain electronic goods from japan did not mean the countries were heading for full scale trade war conable said the world bank has been pressing developing countries open their markets arguing that free trading environment increased the possibility global economic growth have fact been making adjustment loans many countries the developing world which have encouraged the opening their markets and want sure that the developed world doesn close the same time said said the action against japan was significant retaliatory step but did not constitute basic change trade policy the interview came just before next week semi annual meetings the bank and the international monetary fund referring brazil recent interest payments moratorium conable also said the global debt situation was very serious and must closely watched said the bank which the past has concentrated making loans that assist the basic underpinnings the developing world such dams roads and sewers will increasingly make assistance available for economic reform the bank has increased these loans part because the debt crisis that has found countries desperately need new funds for balance payments adjustment and economic reforms aimed opening their markets encouraging foreign investment and reducing government role the economy comfortable with adjustment lending expect however that will never reach majority our portfolio conable said made clear however that adjustment lending would continue increase proportion overall bank lending for some time noted the problem debt was severe one and many countries are asking for adjustment assistance because the problem debt conable former republican congressman from new york chosen president reagan for the bank position last year associate treasury secertary james baker who launched the strategy for shoring indebted nations october which included call for increased adjustment lending the world bank conable also said that expected the result major study the bank organization completed the next several weeks said the decision seek reorganization was based part the fact that the bank had come under fire from the poorest countries for not doing enough help and from the richest countries because inefficiency the reorganization considered major initiative conable and being closely watched the agency member countries indication his management style and priorities want sure this institution viewed those who must support soundly constituted that will permitted grow conable said however said don believe there anything basically wrong with this institution and don believe has have any redefinition its purpose said however that was apparent that the debt initiative proposed baker has given the bank central role dealing with the debt crisis conable added that cooperation between the bank and its sister agency the international monetary fund was good and that talked often with imf managing director michel camdessus variety issues personal level conable said that not feel need put his personal stamp the bank noting that don have particular mission here except useful the institution and the process development added don feel great calling personalize the institution the development needs sub sahara africa conable said that the bank was constantly reviewing new ways for assisting the region noting that half the recently agreed financing billion dlrs for bank international development association was earmarked for africa leading industrial nations are expected consider new forms debt relief for the very poorest nations like those the sub sahara during next week meetings reuter 
money-fx	jobs data said rule out fed tightening steep drop goods producing jobs detracted from march non farm payroll employment and makes unlikely that the federal reserve will tighten monetary policy defend the dollar economists said march non farm payroll employment rose less than the gain the financial markets expected manufacturing employment fell compared with february gain while march construction employment dropped after being unchanged february the momentum industrial activity tapering off end the first quarter said stephen roach morgan stanley and inc this sets the stage for more sluggish growth the second and third quarters the fed will view this caution flag the economy said they will not ease long the dollar weak but clearly they can tighten david wyss data resources inc said that the downward revision february non farm payroll employment from means that employment gains the first quarter were weaker than expected while wyss left his first quarter forecast real gross national product growth pct said the march jobs data suggested downward revision his second quarter growth forecast pct from pct bill sullivan dean witter reynolds inc said the average monthly gain non farm jobs the first quarter was only compared with the fourth quarter there momentum first quarter labor force activity but less than assumed said gains goods producing jobs were subdued best this rules out any possibilty the fed tightening for exchange related purposes march the average workweek fell back its january level hours from hours february manufacturing hours also fell back their january level totalling hours march compared with hours february the commerce department noted that loss manufacturing jobs march was concentrated automobile electrical and electronic manufacturing robert brusca nikko securities international said that decline auto manufacturing employment accounted for nearly half the total drop manufacturing jobs economists said that build auto inventories resulting from steep drop sales has finally caught with the labor force and may point slower growth ahead most expect increase inventories much five pct offset steep four five pct drop final sales the first quarter gnp accounts roach said expects first quarter gnp rise two pct followed gain pct best the second and third quarters said the march drop industrial activity reasonable response light the inordinate contribution inventory accumulation made gnp economists said the employment data also suggest weak gains industrial production and personal income for march they expect only marginal gains not small declines for these indicators compared with february increases pct industrial production and pct personal income steve slifer lehman government securities said the drop march construction employment may also signal drop march housing starts which rose pct february million units annual rate from million units january the rate unemployment fell pct its lowest level since march from pct february but wyss pointed out that this resulted from drop the labor force which fell mln march from mln february this just means that there were fewer people looking for work the drop unemployment doesn mean much said said the latest employment report will not concern the fed because does points gnp growth the first half pct but does suggest they can afford tighten quickly either the statistical factors used smooth out seasonal fluctuations the jobs data may have understated march labor force gains just seasonal factors probably overstated them january and february slifer said but are consistent with his forecast pct first quarter gnp growth economic growth remains sluggish but silfer does not think that the federal open market committee changed policy their meeting this week some point they will more inclined ease said for the time being however the march employment report increases the likelihood they won tighten regardless the dollar reuter 
acq	bristol myers bmy reviewing scimed merger scimed life systems inc smls said bristol myers analyzing the pending lawsuit brought against scimed advanced cardiovascular systems inc determine whether consummate its previously announced plans merge with scimed the company said its was served the suit minneapolis march the day after announced its definitive merger agreement with bristol myers scimed said the suit which alleges that scimed infringed advanced cardiovascular patents without merit reuter 
earn	west usw hikes dividend qtly div cts cts prior pay may record april reuter 
acq	bell petroleum bpsio regal form plan bell petroleum services inc said agreed begin talks with regal international inc form plan reorganization under which bell would become subsidiary regal the plan would subject bankruptcy court approval due bell status debtor possesion under chapter the company expect file plan the end may this agreement terminates litigation between the companies concerning previous attempts plan reorganization bell also free continue talks with any third parties interested acquisition said reuter 
earn	healthvest hvt declares three week dividend healthvest said its board declared dividend for the final three weeks the march quarter cts payable april holders recrod april previously dclared special interim dividend cts for january march connection with its recently completed offering the combined dividend totals cts for the march quarter increase from the prior quarter dividend cts reuter 
earn	cpi corp cpic qtr feb net shr cts cts net sales mln mln avg shrs year shr dlrs dlrs net sales mln mln avg shrs note year ago period ended feb full year earnings include gains from discontinued operations dlrs one share dlrs cts share reuter 
grain	adm grain elevator explodes burlington iowa grain elevator burlington iowa exploded today leaving five injured the elevator operated archer daniels midland decatur ill terminal elevator the mississippi river doug snyder assistant the vice president said the cause the explosion and the extent damage the elevator was not immediatley known reuter 
grain	grain carloadings fall week grain carloadings totaled cars the week ended march down pct from the previous week but pct above the corresponding week year ago the association american railroads reported grain mill product loadings the week totalled cars pct from the previous week and pct above the same week year earlier the association said reuter 
acq	sec clarifies position tender offer changes the securities and exchange commission reminded corporate raiders and others tendering for the shares companies that they must extend the period their offers are open key conditions are changed specifically the agency said those making tender offers for companies stock must extend the offers they decide eliminate conditions requiring minimum number shares tendered order for the offers valid tender offers typically include minimum share conditions result purchaser would not bound buy the shares that were tendered the minimum level were not reached interpretation current rules which officials said clarifies the sec present position the agency said tender offer must extended minimum share condition waived even the purchaser reserved the right the interpretation makes clear that waiving minimum share condition material change the tender offer under securities law sec officials said the sec has already said that other specific material changes such changes the percentage securities being sought the price being offered made during the course tender offer require day extension the offer the length the extension which aimed giving shareholders adequate chance assess revisions tender offer was not specified cases where the minimum share conditions were waived sec officials said the length the extension such cases would depend the facts and circumstances surrounding each case but would generally between five and days the agency cited two recent tender offers which waivers minimum share conditios were tried the last day each offer denying shareholders the chance react the new information officials declined identify the two offers bidder makes material change near the end its offer will have extend the offer permit adequate dissemination the sec said federal securities law requires that all tender offers remain open for least business days reuter 
acq	gencorp unit completes wor sale gencorp said its rko general inc subsidiary completed the sale wor mca inc mca for mln dlrs the federal communications commission approved the sale last december gencorp said the closing was delayed because that decision was appealed four parties the court appeals gencorp explained wor based secaucus gencorp said earlier today general partners said was prepared raise its bid dlrs per share even more its bid for gencorp reuter 
earn	galileo electro optics corp gaeo qtr galileo electro optics corp said estimated earnings for the second quarter ended march will over current analysts estimates cts cts per share however the company said has not closed its books for the quarter and release earnings april reuter 
acq	snyder soi makes cenergy crg exchange offer snyder oil partners told the securities and exchange commission made exchange offer cenergy corp that would allow snyder acquire pct the company common stock under the exchange offer which was proposed yesterday cenergy officers and directors each share cenergy common stock could exchanged for dlrs market value snyder limited partnership units snyder said under the proposal snyder which already holds cenergy common shares pct the total could boost its cenergy stake total pct said snyder did not say whether has received any response its proposal from cenergy acquires the pct stake snyder said its sec filing would use the stock obtain proportionate beneficial interest the company assets and liabilities said has not decided its next move the exchange proposal does not lead negotiations with cenergy snyder said may boost its stake sell some all its current holdings repeated statement made its initial sec filing last month that considering several alternatives including seeking control cenergy reuter 
acq	harleysville group hgic seeks acquire firm harleysville group inc said was talks acquire atlantic mutual fire insurance property and casualty insurer licensed five southern states the company said believes acquisition could completed june subject approval regulatory and atlantic mutual policyholders harleysville plans invest about four mln dlrs the business the deal completed reuter 
acq	kroger buy eight food stores kroger said agreed buy nine retail food stores from the dallas division safeway stores inc which announced was closing the store division part restructuring terms were not disclosed kroger expects take over operation the stores one which under construction late april the addition the stores will bring kroger dallas division stores said operates more than stores states reuter 
earn	douglas computer international year net shr seven cts one net sales reuter 
earn	medical sterilization inc msti year loss shr loss cts loss dlrs net loss loss revs reuter 
acq	rvial union carbide emerges french bid carburos metalicos spain has bid francs share for french chemicals group duffour igon rivalling the franc bid announced yesterday union carbide france the french subsidiary the chemical giant union carbide corp the stockbrokers assocation csac said here duffour igon capital comprised shares with nominal value francs each shares were last quoted francs january banque paribas will act for carburos metalicos while union carbide france bid being led rothschild associes banque duffour igon shares will suspended april and and will resume trading april reuter 
crude	brazil buy bpd kuwaiti oil brazil will import barrels per day crude oil from kuwait spokesman for the state oil company petrobras said said that unlike saudi arabia kuwait did not impose any conditions brazil last month petrobras cancelled mln dlr oil purchase from saudi arabia after the saudis refused accept credit guarantees from the official bank brazil the saudis eventually lifted the condition and brazil decided reconfirm the purchase brazil currently consumes mln barrels oil per day reuter 
acq	metromedia buys warrant for shares orion metromedia said purchased from time inc home box office inc warrant purchase shares common stock orion pictures corp opc the price for the warrant was mln dlrs metromedia said added that now owns pct the outstanding common stock orion reuter 
interest	bank montreal lowers credit card rate bank montreal said will reduce the interest rate charges outstanding mastercard balances pct from pct beginning july the bank said will continue its policy not charging any annual fee transaction fees credit card holders reuter 
earn	enex resources corp enex qtr loss shr not given net loss profit revs year shr loss one profit nine cts net loss profit revs reuter 
earn	oshap technologies ltd oshuf year loss shr loss cts loss three cts net loss loss revs avg shrs note converted using dec exchange rate belgian francs the dlr reuter 
earn	douglas computer international year end shr seven cts one net revs reuter 
crude	canada oil industry set for recovery analysts firmer crude oil prices government aid packages and corporate spending cuts will help canada oil industry recover from last year sharp downturn industry analysts said they said there will significant earnings gains compared last year dismal results when oil prices dropped about pct canada stock exchanges energy shares have soared their highest levels since with many issues trading record highs this reflecting tremendous amount optimism the part the investment community that the outlook for the industry for the future extremely attractive peters and ltd oil analyst wilf gobert said financial statements from canada major oil companies culminating with dome petroleum ltd billion canadian dlr loss reported this week painted bleak picture last year results analysts said but the financial statements are snap shot and recording history the stock market the indication the future gobert commented the toronto stock exchange oil and gas index companies far trading today from the end among canada largest oil companies class shares imperial oil ltd imo pct owned exxon corp xon trading from week low shell canada ltd pct owned royal dutch shell group from low during the last year texaco canada inc txc pct owned texaco inc from low levesque beaubien inc oil analyst robert plexman forecasts operating profit for canada largest oil and gas companies will rise pct about billion dlrs and operating cash flow will increase pct billion dlrs based average oil price for the year dlrs barrel however prices hold about dlrs barrel net operating income could show pct increase with cash flow pct higher analyst plexman said although difficult forecast the extent the profit improvement this year the gain should significant added those improvements follow sharp downturn when operating income for the ten companies dropped pct billion dlrs and operating cash flow fell pct billion dlrs but one industry source doesn think oil prices will hold recent gains and more government assistance needed canadian petroleum association technical director hans maciej sees industry cash flow falling another pct after dipping about pct last year maciej said sees crude oil supply outweighing demand and doesn believe recent opec production accord will continue support prices however several companies share the optimistic industry outlook expressed majority analysts shell canada and norcen energy resources ltd forecast improved earnings their annual reports issued this week assuming oil prices remain above levels the industry outlook for positive but not robust texaco canada said its annual report while oil prices have strengthened somewhat and there good reason believe that the general level sustainable continued volatility likely texaco canada added the face short term uncertainty many companies have pared spending plans from last year lower levels deferring most frontier exploration work the industry becoming very selective investments very conservative and cautious which not unexpected canadian petroleum association maciej said federal and alberta goverment aid measures helped cushion the industry downturn and are improving results the most significant help came last september when the federal government lifted the pct petroleum gas revenue tax pgrt months earlier then planned analysts estimate the tax relief will save larger oil companies about billion dlrs the end the pgrt cut helped brake the steep profit and cash flow decline for many oil companies and prevented further exploration spending cuts analysts said for number companies the pgrt cut was absolutely necessary even maintain the kind reduced investments that were made otherwise the reduction would have been considerably more maciej said reuter 
earn	jack winter inc jwi qtr jan loss shr loss cts loss seven cts net loss loss revs mln mln mths shr loss cts profit cts net loss profit revs mln mln reuter 
earn	planters corp pnbt qtr net shr cts cts net reuter 
acq	hutton efh still interested purolator pcc hutton lbo inc still interested acquisition purolator courier corp and examining the possibility raising its dlr per share offer hutton spokesman said hutton offer was topped dlr per share offer from emery air freight corp eaf earlier this week definately not out this point the hutton spokesman said want see what the offer completely and understand fully and then fashion our response the spokesman said after emery made its offer hutton extended the deadline its offer monday the offer was have expired wednesday analysts said might difficult for hutton raise the offer since emery overnight courier might have easier time justifying lofty price since would realize cost savings combining its business with those purolator purolator new jersey based overnight courier has declined comment purolator had traded above the hutton offer price speculation new bidder would emerge was today above the emery offer reuter 
earn	dreyfus bonds plus inc monthly payout mtly div cts cts prior paid april record march reuter 
earn	scott instruments corp scti year loss shr loss cts loss cts net loss loss revs reuter 
earn	scott instruments scti gets qualified audit scott instruments corp said its independent public accountants qualified the report scott financial statements because its weak financial condition the report indicates the realization the company assets dependent obtaining enough working capital finance operations and additional funds meet other liabilities among other things these factors indicate the company may unable continue its existence earlier scott reported loss mln dlrs compared loss almost mln dlrs total assets were nearly mln dlrs year end down from mln dlrs the prior year reuter 
earn	thoratec laboratories corp year loss shr loss dlrs loss dlrs net loss loss revs reuter 
acq	bayou international gets stake amalgamated bayou international ltd said acquired pct amalgamated equities ltd australia for dlrs bayou pct owned australia wide industries ltd reuter 
earn	network netw take qtr charge network control corp said intends take dlr charge against earnings for the third quarter ended march and said sales for the quarter would about dlrs about pct below sales the same year ago quarter network said taking the charge due the significant increase accounts receivable which remain uncollected for more than days after billing said ultimately will collect most those accounts attributed the sales decline transition period for its new products and delay major order reuter 
crude	petrobras sees raising export fuel brazil state oil company petrobras pledging export mln cubic meters fuel mln barrels company spokesman said said that represents total sale worth mln dlrs the volume pct higher over sales which totalled mln cubic meters mln barrels the united states africa and latin american are brazil main fuel buyers the spokesman said reuter 
interest	baker repeats hopes prime hike temporary treasury secretary james baker reiterated his hope that this week rise prime rates would temporary blip upwards would hope that would simply temporary blip upward seen the past baker said television interview with the cable news network the interview airs tomorrow but cnn released extracts from his remarks today baker also repeated his position that the reaction financial markets tariffs japanese electronic goods showed the importance the united states not going protectionist the markets were telling careful reuter 
earn	and marine ebmi qtr net edison april shr loss dlrs loss cts net loss loss revs mln mths shr loss cts gain cts net loss gain revs mln mln reuter 
acq	iroquois brands ibl rebuffs lyon foods claims iroquois brands ltd said has been sued lyon food cos inc which seeking mln dlrs damages connection with the april nine mln dlrs purchase iroquois former specialty food products segment iroquois said that based upon the defenses will assert does not believe that any charge against income required result the claim reuter 
acq	texas american txa banks merged texas american bancshares inc said three its texas american banks will merged into texas american bank galleria the corporation said the spring branch fonderen and gulfway texas american banks will become separate banking offices tab galleria reuter 
earn	biw cable systems inc biwc qtr loss shr loss dlrs loss cts net loss loss revs mln year shr loss dlrs profit two cts net loss profit revs mln mln note current periods include mln dlr charge for possible obsolete inventory and provision dlrs for consolidation cable manufacturing plant reuter 
acq	doe issues offer buy alaska power unit the energy department issued request for proposals buy the snettisham hydroelectric project major part the alaska power administration said invitations were sent two alaskan electric utilities the city and borough anchorage and the state alaska did not cite possible purchase prices the requests were limited alaskan entities because the purpose privatization the administration was put the local utility into the hands local body the doe said added that proposals are due back august three the doe said then had days select proposal that would recommend congress which then would vote the recommendation down proposals buy the other major part the alaska power administration the eklutna project was expected issued early june said reuter 
earn	warehouse club wclb take charge warehouse club inc said expects take one time charge about five mln dlrs its june third quarter results from closing two unprofitable chicago area units the company said will continue operate warehouses illinois indiana michigan ohio and pennsylvania added that expects future operating results improved because the closing the two warehouses reuter 
acq	sci scis buys fortune fsys computer assets fortune systems corp and sci systems inc said they signed letter intent covering the purchase fortune microcomputer business assets for unspecified amount cash fortune systems makes desktop computer systems reuter 
earn	cullen frost cfbi omit dividend cullen frost bankers inc said will defer paying cash dividend for the next months due the economic slump the texas economy previously paid five cents share dividend recent quarters also said its first quarter earnings ended march which said will release later this month will similar its fourth quarter earnings last year the company reported loss dlrs cts share reuter 
acq	investor group cuts rospatch rpch stake group new york investors said lowered its stake rospatch corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission the group said sold net shares rospatch common stock between february and march prices ranging from dlrs share the group includes brookehill equities inc brokerage firm and moore grossman and derose inc investment advisor reuter 
crude	colombia main oil pipeline attacked state run oil company ecopetrol said colombia main oil pipeline was bombed again and pumping barrels per day was suspended spokeswoman for the company said that the early morning dynamite attack was the the last nine months the cano limon covenas pipeline which links colombia biggest oilfied cravo norte the caribbean she said about barrels crude were spilled and could not indicate when pumping would resume the attack was near magangue northeastern bolivar province ecopetrol exploiting cravo norte association with occidental petroleum corp oxy and shell petroleum unit the royal dutch shell group ecopetrol said communique that bombings since last july led loss more than barrels crude the equivalent mln dlrs reuter 
earn	loctite loc sees better than expected net loctite corp said expects third quarter earnings higher than security analysts forecasts cts share last year the company earned cts per share the third quarter attributed its better than expected forecast sales growth which said were particularly strong overseas also said will have lower effective tax rate reuter 
earn	time sees dilution from scott foresman time inc said the acquisition scott foresman and last year will dilute earnings per share about cts share for the full year for the first quarter the acquisition will have negative impact about cts per share chief financial officer thayer bigelow told security analysts said scott foresman textbook publisher will contribute more than mln dlrs operating income before depreciation and amortization for the full year nicholas president and chief operating officer said soctt foresman will have over mln dlrs revenue bigelow said the textbook business which normally has its highest profit the third quarter and incurs loss the first quarter will have adverse impact mln dlrs book publishing income for the first quarter first quarter performance for the rest time inc will better than last year bigelow said the dilution cts per share for includes the effects financing the acquisition bigelow also said the company comfortable with estimates that earnings will between dlrs and dlrs per share for the year reuter 
acq	cyacq terminates tender for cylcops cly cyacq corp said terminated its february six tender offer for cyclops corp cyacq was unsuccessfully bid against dixons group plc for control cyclops march dixons group plc had acquired more than pct the stock under increased tender offer reuter 
acq	investor lifts myers myr stake pct leonard chavin chicago real estate developer who has said considering seeking control myers group said raised his stake the company shares pct from pct filing with the securities and exchange commission chavin said bought myers common shares between march and prices ranging from six dlrs share last january chavin said retained investment banker dickinson and advise him his myers stock dealings has also said would unable seek control myers unless gets financing reuter 
earn	company earnings highlights first quarter anchor financial corp shr cts nine months biomet inc shr cts federal shr dlrs richardson electronics shr cts year eac industries inc oper shr loss cts loss cts fine art acquisitions shr cts mangood corp oper shr loss dlrs loss reuter 
earn	freedom savings and loan ass frdm year end shr loss dlrs loss dlrs net loss mln loss mln note loss includes operating loss mln dlrs dlrs share including additional loan loss provision mln dlrs write downs the value real estate mln dlrs and extraordinary loss mln dlrs for early retirement long term debt reuter 
acq	investor mulls kappa kpa radiation rads merger michael krupp golden colo businessman and major shareholder kappa networks inc said and kappa management are considering seeking merger between kappa and radiation systems inc filing with the securities and exchange commission krupp said companies controls and kappa acquired combined radiation system shares pct the total krupp who has pct stake kappa said and kappa management believe kappa radiation systems combination would good for both companies but decision has been made whether how proceed with merger attempt added reuter 
acq	olin oln unit acquires image technology olin corp olin hunt specialty products inc said acquired image technology corp for undisclosed terms image technology makes chemicals for the semiconductor industry reuter 
acq	key centurion keyc buy bank buckhannon key centurion bancshares inc said reached agreement principle acquire central national bank buckhannon virginia terms call for exchange shares centurion shares for each share central national the transaction valued mln dlrs reuter 
acq	sturm ruger submits bid for smith and wesson sturm ruger and inc said submitted bid excess mln dlrs for smith and wesson manufacturer law enforcement firearms and unit lear siegler smith and wesson among number companies being sold forstman and little after its recent acquisition lear siegler reuter 
acq	freedom savings frdm may seek sale merger freedom savings and loan association said may seek possible sale merger the association reported net loss mln dlrs dlrs share for the loss included number charges including additions its loan loss provision mln dlrs and write downs the value its real estate mln dlrs said continuing work with investment bankers find sources new capital return its non performing assets earning status and reduce operating expenses and liabilities among other things reuter 
crude	brazil makes second amazon oil discovery the brazilian state oil company petrobras has made second oil discovery the amazon region president jose sarney said said the well had initial flow cubic meters gas and barrels oil per day situated kilometres from the first well discovered the region last year which currently yielding cubic meters gas and barrels oil daily the wells the biggest onshore well the country are the banks the river uruc the amazon basin kilometres miles north brasilia reuter 
earn	telebyte technology inc tbti year shr loss cts loss cts net loss loss revs mln mln reuter 
earn	houston oil royalty trust rth distribution monthly dist cts cts prior payable april record april reuter 
acq	publishers equipment pecn trentonian deal publishers equipment corp said reached agreement incorporate flexo printing technology into the tentonian ingersoll newspaper trenton said that mid will the target date for start for the new equipment which will double the size its present press reuter 
acq	gabelli group cuts gencorp stake pct group led new york investor mario gabelli told the securities and exchange commission cut its stake gencorp inc shares pct the total from shares pct the gabelli group said sold gencorp common shares between march and prices ranging from dlrs share reuter 
acq	gabelli explains sale gencorp shares mario gabelli head new york investment firm mario gabelli and said sold some shares gencorp inc part portfolio rebalancing process meet the needs his more than clients said the stock moved following acquisition proposals from group formed afg industries inc afg and wagner and brown some his clients were overweighted regarding the company shareholders meeting tuesday gabelli told reuters there was nothing said that caused sell buy still thinks values are dlrs per share more and has clients that asked buy more gabelli said amended certain filings with the securities and exchange commission because his clients are now passive investors wanted remove our clients from the process unfolding between gencorp and wagner and brown said said was pleased that chairman william reynolds stated the meeting that found the concept greenmail repugnant greenmail refers corporation buying out shareholder premium not available others reuter 
acq	investor boosts first western fwes stake poul erik moller santa monica calif investor said raised his stake first western financial corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission moller said bought first western common shares between jan and march prices ranging from dlrs share moller said bought the stock long term investment and may buy more but has plans seek control the company reuter 
acq	investor boosts first western fwes stake poul erik moller santa monica calif investor said raised his stake first western financial corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission moller said bought first western common shares between january and march prices ranging from dlrs share moller said bought the stock long term investment and may buy more but has plans seek control the company reuter 
earn	comterm inc year jan loss oper shr loss cts profit eight cts oper net loss profit revs mln mln note net excludes extraordinary gain mln dlrs cts shr from settlement provision for discontinued operations ago tax gain dlrs three cts shr reuter 
earn	sabine royalty trust sbr sets monthly payout cash distribution cts cts prior pay april record april reuter 
earn	providence energy corp pvy regular dividend qtly div cts cts prior pay may record april reuter 
earn	gulf states gsu sees end cash may gulf states utilities said its condition has significantly deteriorated and that its operating cash reserves will inadequate may unless receives additional financing rate relief from state public utilities commissions texas and louisiana the company newly released annual report and filing gulf states said its bank lenders had notified the utility last month that additional credit would granted gulf states said the banks had requested the utility begin making prepayments the end april mln dlrs more than the estimated lease payments mln dlrs the circumstances increase the likelihood that the company may have seek protection from its creditors under the bankruptcy code gulf states said the utility had previously said might forced consider filing for bankruptcy because limited rate increases granted state regulators connection with gulf states billion dlr river bend nuclear plant louisiana the regulatory commissions approve the company proposed rate moderation plan and grant the increases provided for such plan during the initial three year phase period the company believes could achieve financial stability gulf states said february the texas public utilities commission granted gulf states interim rate increase mln dlrs contingent upon the utility obtaining new mln dlr line credit pay operating expenses the utility had sought mln dlrs rate hikes texas gulf states has appealed decision louisiana state regulators rejecting its application for mln dlrs emergency rate relief gulf states earned mln dlrs revenues billion dlrs compared profits mln dlrs sales billion the previous year reuter 
interest	shanghai bank standard chartered bank raise prime one half point pct 
interest	hong kong banks raise prime one half point pct hongkong and shanghai banking corp and standard chartered bank raised their prime rate one half point pct effective tuesday the association banks said the association said statement deposit rates have also been increased percentage point the banks last announced adjustment february when they raised the prime rate one point six pct the deposit interest rates are now savings and hours two pct seven day call one week and two weeks pct one month and two months pct three and six months pct nine months pct and months four pct reuter 
money-fx	lawson says election not only ems bar british chancellor the exchequer nigel lawson said the next election was not the only element standing the way full british membership the european monetary system ems but added that arguments against joining had weakened prime minister margaret thatcher widely believed the strongest government opponent full ems membership has made clear she does not expect consider joining until after the next election due mid the latest but lawson answer question told reporters after informal european community finance ministers meeting here that other factors apart from the upcoming election stood the way full membership addition the question the exchange rates which britain should enter the ems core exchange rate mechanism there was also the impact sterling membership the system considered said british entry would change the ems from monopolar system based the west german mark bipolar mark sterling system noted have make sure would work but lawson added that some the considerations that had made difficult for britain join the past now posed less problem example cited sterling role petrocurrency which said was diminishing that argument has clearly weakened said lawson restated that the government was keeping the question membership under review reuter 
money-fx	agrees need strengthen ems european community finance ministers and central bankers agreed the need for greater cooperation strengthen the european monetary system ems against international market turbulence officials said there was general will reinforce the european monetary system with all that implies belgian finance minister mark eyskens said yesterday after hosting one day session informal talks this belgian coastal resort the gathering was the first such discussion since the second major realignment ems parities within nine months january the system has come under severe strain funds have flowed out the slumping dollar and into the dominant ems currency the west german mark sending soaring against weaker currencies the system but eyskens said february agreement between leading western industrialised nations stabilise exchange rates around current levels was working and this would allow the speed its efforts boost the internal stability the ems told news conference yesterday meeting agreed the need for closer coordination among ems member governments interest rate policies and interest rate differentials between different countries they also agreed they needed better coordination exchange market intervention hold currencies stable both when they reached their fixed ems limits and within their agreed margins but eyskens said this coordination raised whole range technical problems and ministers would discuss these further luxembourg june the basis proposals from the monetary committee and committee central bank governors said the needed set indicators economic convergence betwen community countries and was important that interest rates fulfilled this role together with exchange rates and inflation rates the belgian minister whose country presently holds the presidency the community made clear the meeting had not produced any agreement move radically forward developing the ems towards the long term goal economic and monetary integration have committed ourselves reestablishing the normal functioning the system eyskens said eyskens has repeatedly stressed that believes the ems has reinforced the plans liberalise all movements capital across national borders are ahead executive commission president jacques delors told the meeting the authority would put forward proposals for final phase capital market liberalisation october that would include safeguard clauses for member countries for which the move would create difficulties eyskens said the ministers and central bankers also discussed the need dedramatise realignments ems parities letting high ranking monetary officials carry them out telephone rather than calling meeting finance ministers however west german sources said bonn finance minister gerhard stoltenberg was unenthusiastic about the idea british chancellor the exchequer nigel lawson told journalists that one the technical issues raised greater coordination exchange market intervention was the question which currencies should used intervene and held central bank reserves said several ems member countries believed the ems would work better central banks held each other currencies issue particular importance regarding west germany since the bundesbank holds only dollars its foreign exchange reserves said the debate dedramatising ems realignments reflected general feeling among participants that the way the january reshuffle had been conducted was unsatisfactory the realignment was marked acrimony between france and west germany with each side blaming the other for strains the system that forced the parity overhaul reuter 
money-fx	zambian currency falls foreign exchange auction the zambian currency further depreciated yesterday the second auction since the introduction two tier foreign exchange system last month the central bank zambia said the kwacha was pegged the dollar compared last week rate the dollar the bank which offered six mln dlrs the auction reported demand for mln dlrs the previous auction the government offered eight mln dlrs last month the government set fixed exchange rate nine kwacha per dollar subject adjustment against basket five currencies for certain official transactions also introduced new weekly foreign exchange auction only for parastatal organisations and the private sector where the exchange rate allowed float accordance with market demand the new auction system designed more restrictive than the previous one suspended january after the central bank fell weeks arrears successful bidders under the new system bidder except the the state oil company zimoil and the national airline zambia airways allowed bid for more than five pct the foreign exchange offer reuter 
ship	navy said increasing presence near gulf defence secretary caspar weinberger has ordered the navy increase its presence near the gulf effort fulfil president reagan pledge keep oil flowing europe and japan the new york times reported the newspaper quoted pentagon officials saying the navy would keep the aircraft carrier kitty hawk station the arabian sea and the rest the indian ocean until may three months longer than planned the navy would then have carrier battle group six eight warships the area all times rather than part the time happens now the paper said the paper said that last month intelligence sources said they had spotted land based anti ship missiles chinese design known the west the near the strait hormuz said their purpose was seen signal iran was ready continue and perhaps step the gulf shipping war against iraq carriers battleships would sail out range those missiles but within striking distance the paper quoted officials saying from several hundred miles sea carriers could launch aircraft bombing runs missile strikes and battleships could fire long range missiles the paper said reuter 
crude	iea sees one pct growth oecd oil demand growth oil consumption the western industrialised countries likely slow around one pct this year compared with pct the international energy agency iea said oil use the countries the oecd increased around one pct first quarter mln bpd the iea said its monthly oil market report growth oecd countries expected come primarily from transport fuels but average consumer prices are higher than the rate growth for these fuels may below last year pct said the iea said that assuming crude oil and product prices stay close current levels some destocking end users can expected that happens natural gas will also regain some the market share lost heavy fuel and there may slightly less growth transport fuels iea estimates april put oil stocks the oecd area mln tonnes representing days forward consumption this about the same level the begining the year the agency said this flat trend explained the projected seasonal consumption decline the second quarter the year which offset reduction stocks said initial estimates indicate that company stocks fell mln bpd oecd countries the first quarter the year this followed small rise january mln bpd but decline mln bpd february and mln bpd march possible that final data will show larger draw particulary for march said crude production also fell there likely have also been decline non reported stocks particularly sea the iea said company stocks land the oecd rose mln tonnes april against mln april governments built strategic stocks mln tonnes against mln the period the year year trend government stock building continuing with year year company stocks also rising more less line with consumption after declining for five years the iea noted oil stocks land the and canada were put mln tonnes april down from the mln tonnes january and equivalent and days consumption respectively oil stocks western europe were mln tonnes april down from the mln january but still equivalent days consumption world oil supply fell the first quarter about two mln bpd mln bpd from mln bpd last quarter this drop was mostly due decline opec crude production around mln bpd february march from mln bpd january and the seasonal drop exports from centrally planned economies the iea said total opec crude oil supply was mln bpd the first quarter plus mln bpd ngls compared with mln bpd crude the last three months and mln average for the whole supply from non opec countries totalled mln bpd against mln bpd the fourth quarter drop saudi arabian output tentatively forecast mln bpd march from mln bpd february was the largest factor behind the opec production decline the iea said saudi arabia opec assigned output quota mln bpd reuter 
money-fx	credit market outlook cautious trading bond trading likely remain cautious the near term with possible downward price bias market participants focus trends the dollar the economy and federal reserve policy economists said most expect the economy continue showing modest gains that the dollar has more room fall and that the fed will keep policy essentially steady perhaps for several months until trends are clearer the market can only attempt establish and hold new trading range higher interest rates said economists merrill lynch capital markets merrill lynch economists raymond stone and ward mccarthy said that while the fundamentals generally bode for healthy investment climate the market will have confidence this environment until there illumination and confidence dollar trade policy salomon brothers henry kaufman said the bond market highly sensitized dollar movements could encouraged currency markets seem stabilizing and overseas economic growth perceived slowing sharply the crucial question however how soon either these developments likely occur kaufman said market uncertainties and the erosion portfolio manager confidence could continue portfolio selling pressure while longer said philip braverman chief economist irving securities corp however braverman said that from longer term perspective current bond prices provide buying opportunity despite nearly one point bond price rebound friday unexpectedly weak march employment data key year treasury bonds lost points price for the week whole and thursday pct closing yield was high braverman said historical evidence suggests that long bond yield the pct area provides basis for optimism bonds closed pct friday the irving economist noted that three times last year similar paroxysm pessimism the key bonds reached similar closing yield high within three six weeks each instance however braverman said bond prices recovered bring the yield down sharply basis points mitchell held smith barney harris upham and inc said that many portfolio managers now believe yields could approach nine pct midyear which considers unlikely held said that since late smith barney analysts have spoken about the risk that interest rates could move higher and they continue believe that upward bias likely persist over the next few months held said that conversations with portfolio managers last week there appeared increasing belief that the rate rise had just begun and that yields could approach nine pct midyear naturally that would mean sharp bond price fall yields could rise further over the next few months but the rise should less than the basis point rise seen since the start the year held said most expect fed policy neutral for bonds near term the fed currently frozen into fixed stance said economists aubrey lanston and inc they said the fed cannot tighten policy and push interest rates might appropriate stabilize the dollar and head off renewed inflationary psychology that might harm the fragile economic expansion the lanston economists said the fed cannot ease its policy stance both foster more rapid economic growth and calm domestic and third world debt jitters without the threat causing further decline the dollar minutes february federal open market committee fomc meeting released friday showed that while the fomc left policy unchanged was more inclined firm rather than ease policy later conditions the economy foreign exchange credit markets warranted policy shift however economists generally believe that continued fairly sluggish economic growth and the financial strains banks resulting from their problem loans developing countries rule out any fed policy firming there broad agreement among economists that the fomc last tuesday meeting also left fed policy unchanged this week economic data are expected have little impact february consumer instalment credit numbers are due wednesday with march producer price data out friday there may mild relief some quarters that the purchasing managers composite index closely watched economic indicator rose only pct march from pct friday rumor had put the number far higher the index first quarter average also was pct translating into real gnp growth about three pct continued through federal funds traded pct late friday and are expected open about there today with fed action seen reuter 
interest	national australia bank lowers benchmark prime national australia bank ltd naba said lowered its benchmark prime lending rate pct from effective today but left its base rate the benchmark reduction brings the rate into line with the prime rates most australia trading banks including those two the other three major trading banks however the rate above the pct the lowest ruling rate set the other major the australia and new zealand banking group ltd anza friday and effective today the benchmark based short term interest rate movements while the base rate tied longer term trends reuter 
earn	caesars world board approves recapitalization caesars world inc caw said its directors unanimously approved recapitalization plan under which stockholders will get cash distribution dlrs per share via one time special cash dividend and will retain their common stock ownership caesars world caesars world said expects raise the approximately one billion dlrs needed pay the dlr per share dividend and the expenses recapitalization through around mln dlrs bank borrowings and public sale approximately mln dlrs debt some outstanding debt will retired drexel burnham lambert inc caesars financial advisor has told the company confident can arrange the entire financing needed for the recapitalization henry gluck chairman and chief executive officer the hotel casino and resorts company said statement the board believes the recapitalization plan financially superior dlr share tender offer martin sosnoff gluck said the caesars world board once again recommends that shareholders reject the sosnoff offer the stock closed dlrs share friday our ability restructure along these lines possible primarily because the financial stability and the strong operating results achieved management recent years gluck said said that after the recapitalization takes effect proforma net income for the fiscal year ended july expected about mln dlrs fiscal primary earnings per share are projected cents based about mln post recapitalization common and common equivalent shares outstanding commenting the company longer term earnings outlook gluck said project net income increase mln dlrs reflecting increased operating income and lower interest expense due the retirement mln dlrs debt incurred connection with the recapitalization said the company does not usually release projections but has done now beause the significance the recapitalization gluck said the recapitalization plan will submitted for stockholder approval special meeting expected june the plan will require the approval stockholders and that the nevada and new jersey gaming regulatory authorities part the plan the company will change its state incorporation from florida delaware means merger caesars world into wholly owned subsidiary the company the new incorporation certificate and bylaws will provide for among other things fair price provision requiring that certain transactions with interested pct stockholders approved pct vote stockholders excluding shares held such interested stockholders caesars world said statement that the cash distribution will result substantial deficit stockholders equity did not give estimate the size this deficit but the company said its financial advisors have said they believe that after the recapitalization caesars world should have the financial flexibility and resources necessary finance its current and projected operating and capital requirements reuter 
acq	australian gas light counter bids for tmoc the australian gas light agl said will offer one share plus one dlr cash for every two shares oil and gas producer tmoc resources ltd counter bid the previously reported takeover offer santos ltd stos the offer values tmoc shares dlrs each based agl closing price dlrs friday tmoc shares jumped dlrs the announcement from its friday closing price the agl offer the third made for tmoc this year compares with the santos cash offer dlrs share based tmoc issued capital mln shares the agl offer values the entire company mln shares agl said statement that already holds pct tmoc issued capital this compares with the santos stake pct when announced its bid march elders resources ltd began the auction for tmoc about three months ago with unsuccessful dlrs share market offer that has since lapsed agl said its offer above the upper end the range values placed tmoc its advisers the company response urging rejection the elders resources bid agl said will make the same offer for tmoc convertible notes accepting share and note holders will participate agl planned one for one bonus issue said tmoc already partner with agl the alice springs darwin gas pipeline and has number businesses complementary with those agl agl the new south wales natural gas utility while tmoc has extensive onshore holdings mainly queensland where owns the moonie oil field and the northern territory where operates and holds the mereenie oil gas field also has interests number gas oil pipelines reuter 
crude	iea forecasts slower growth oecd oil demand growth oil consumption the western industrialized countries likely slow around one pct this year compared with pct the international energy agency said oil use the member countries the organization for economic cooperation and development oecd increased around one pct the first quarter mln barrels day the iea said its latest monthly report growth oecd countries expected come primarily from transport fuels was the case but average consumer prices are higher than the rate growth for these fuels may below last year pct the iea said assuming crude and product prices remain nar current levels some destocking end users can expected that takes place natural gas will also regain some the market share lost heavy fuel said iea estimates april one put oil stocks held the oecd area mln tonnes days forward consumption this about the same the begining the year the agency said this flat trend explained the projected seasonal consumption decline the second quarter the year which offset reduction stocks company stocks land the oecd rose mln tonnes april one this year compared with mln tonnes calender while governments also built their strategic stocks mln tonnes against mln the year year trend government stock building continuing with company stocks rising more less line with consumption after declining for five years iea said oil stocks land the united states and canada were put mln tonnes down from the mln tonnes january one and equivalent and days consumption respectively oil stocks western europe were mln tonnes down from the mln tonnes january one but still equivalent days consumption the iea said that initial estimates indicate that company stocks fell mln bpd oecd countries the first quarter the year this followed small rise january bpd but decline bpd february and bpd march and possible that final data will show larger draw particulary for march said crude production also fell there likely have also been decline non reported stocks particularly sea the iea said world oil supply fell through the first quarter about two bpd bpd from bpd the last quarter this drop was mostly due decline opec crude production around bpd february march from bpd january and the seasonal drop exports from centrally planned economies the iea said total opec oil supply totalled bpd the first quarter compare with bpd the last three months while supply from non opec countries totalled bpd against bpd the same period drop saudi arabian output tentatively forecast bpd march from bpd february was the largest factor behind the opec production decline the iea said reuter 
money-fx	miyazawa sees big nations reaffirming paris pact finance minister kiichi miyazawa told parliamentary committee expects major nations reafffirm the currency pact they struck paris when they meet this week washington political sources said the minister also was quoted saying expects major nations take coordinated action ensure exchange rate stability finance ministry officials were unavailable for immediate comment paris february six nations britain canada france japan the and west germany pledged cooperate hold their currencies stable reuter 
interest	chase amp bank lower australian prime rate pct from tomorrow 
ship	kuwait may register gulf tankers newspaper kuwait may register part its tanker fleet with foreign flag jurisdictions including the and ussr attempt protect them from iranian missile attacks the gulf war zone officials were quoted the new york times saying the transfers would allow the country registration escort kuwaiti owned ships the gulf kuwait had earlier declined offer naval escorts too public admission its need for protection they said kuwait also looking flagging out european registries the officials said soviet flag tankers transporting kuwaiti oil through the gulf may get soviet escorts the officials said kuwait had earlier considered having both ussr and escorts but the was unwilling give the soviet union naval role the region the newspaper quoted the officials saying kuwait has backed iraq the seven year war against iran and its ships have increasingly been the target iranian attacks the and kuwait have been negotiating for over month methods protecting kuwaiti ships reuter 
interest	chase amp bank cuts australian prime pct chase amp bank ltd said will lower its prime lending rate pct from effective tomorrow the bank the first lower its prime rate below the pct set few banks the last few days continuation downward trend which began late last month other prime rates range from pct with the majority the bank said the reduction reflected the recent downturn money market rates the improved economic outlook and adequate liquidity the second quarter tax rundown period reuter 
earn	nixdorf world group net profit mln marks mln div marks 
acq	tesco extends hillards offer tesco plc tsco said was extending its mln stg contested bid for hillards plc until may said now controlled pct hillards shares comprising acceptances the offer for mln pct and mln pct owned itself its pension fund its associates also controlled convertible preference shares pct hillards shares were unchanged while tesco was two pence firmer reuter 
money-fx	bundesbank sets day securities repurchase tender fixed pct 
money-fx	bundesbank sets new repurchase tender the bundesbank set new tender for day securities repurchase agreement offering banks liquidity aid fixed bid rate pct central bank spokesman said banks must make their bids gmt today funds will allocated gmt tomorrow and credited accounts later the day banks must repurchase securities pledged may reuter 
earn	moet hennessy proposes higher dividend year end dec proposed dividend francs francs note full name company moet hennessy mhsp reuter 
grain	soviet grain products ministry criticised the soviet communist party has criticised the country grain products ministry for failing ensure proper grain storage turning out poor quality bread and for unsatisfactory book keeping pravda said the party daily said that losses the industry owing waste and theft amounted mln roubles over the last two and half years the situation was particularly bad the central asian republic kazakhstan which has been severely criticised since the ousting its veteran leader dinmukhamed kunayev last december its new leader gennady kolbin has said that times the grain growing republic has performed badly that has been obliged seek grain supplies from national reserves tass news agency announced yesterday that grain products minister grigory zolotukhin was being retired and replaced alexander budyka senior food industry official pravda added today that the crisis the industry had been drawn zolotukhin attention and two his deputies reprimanded reuter 
trade	taiwan trade surplus widens first quarter taiwan trade surplus widened billion dlrs the first quarter from billion year ago the government statistics department said first quarter exports rose billion dlrs from billion the same period imports rose billion from billion last year the march trade surplus was billion dlrs compared with billion february and billion march exports rose billion dlrs from billion february and billion march last year imports were billion dlrs against billion february and billion march reuter 
money-fx	bank japan sell billion yen bills the bank japan will sell tomorrow total billion yen worth financing bills from its holdings help absorb projected money market surplus billion yen money traders said the total billion yen will yield pct sales from money houses banks and securities houses day repurchase accord maturing may another billion yen will yield pct day repurchase pact maturing april they said the repurchase agreement yields compare with the pct one month and pct three week commercial bill discount rates today tomorrow surplus attributable government tax allocations local governments and public entities the operation will put outstanding bill supply about billion yen they said reuter 
acq	wormald acquire stake holmes protection fire protection and security group wormald international ltd woia said british listed holmes protection group inc has agreed issue with mln common shares one cent par value stg each the two groups have also begun exploratory talks possible merger the holmes business with the compatible businesses wormald comprising some all its fire protection and security businesses the americas and europe wormald said statement the issue shares the new york based holmes conditional upon shareholder approval general meeting wormald said its stake will represent pct holmes existing issued shares and pct the enlarged capital the issue will raise mln stg which will used for further development the holmes business wormald said the businesses the two groups are largely complementary terms both geographical spread and the nature their activities with holmes concentrating burglar alarms and wormald fire systems holmes operations are concentrated and around new york amd miami earned mln dlrs pre tax its last reported full year and mln first half reuter 
interest	chase amp bank cuts australian prime pct chase amp bank ltd said will lower its prime lending rate pct from effective tomorrow the bank the first lower its prime rate below the pct set few banks the last few days continuation downward trend which began late last month other prime rates range from pct with the majority the bank said the reduction reflected the recent downturn money market rates the improved economic outlook and adequate liquidity the second quarter tax rundown period reuter 
money-fx	money market given mln stg assistance the bank england said had provided the money market with mln stg help the morning session this compares with the bank forecast shortage the system today around mln stg which earlier revised from mln the central bank bought bank bills comprising mln stg band one pct mln stg band two pct and mln stg band three pct also purchased three mln stg treasury bills and two mln stg local authority bills band three pct reuter 
crude	occidental oxy big peru heavy oil find occidental petroleum corp said the shiviyacu development well block the peruvian amazon jungle producing barrels degree gravity oil per day from depths and feet the company said drilling new exploration well the block southeast shiviyacu miles away reuter 
earn	lieberman enterprises inc qtr feb net shr cts cts shr diluted cts cts net sales mln mln nine mths shr dlrs dlrs shr diluted dlrs dlrs net sales mln mln reuter 
crude	scottish refinery set restart this week the british petroleum plc refinery grangemouth scotland shut down after explosion and fire the hydrocracker march will probably back operation towards the week end refinery spokesman said said the refinery will resume about half its barrels per day bpd capacity work overhauling the north side the complex which began the end january will not completed before the end april said the refinery had been closed for longer than originally expected due the lengthy safety checks being carried out prior restarting the explosion and fire which one worker was killed caused extensive damage the central part the hydrocracker and the spokesman said today this unit would out operation for several months the remainder the refinery including the catalytic cracker was undamaged said inquiries into the accident which happened while the hydrocracker was not operation were continuing earlier incident two people were killed explosion and fire the refinery march reuter 
trade	britain warns japan over trade row british corporate affairs minister michael howard told japan resolve the row over the firm cable and wireless plc cawl shareholding new japanese telecommunications company face abrupt deterioration trade relations meetings with both the foreign and telecommunications ministers howard said expressed deep concern about the way tokyo had handled the dispute and about the continuing trade imbalance between the two countries put the post and telecommunications minister that was sure did not want responsible for abrupt deterioration the trading relations our countries which would have widespread reverberations elsewhere the world howard told reporters listened very carefully and have little doubt the message got home added british frustration over the lopsided trade balance nearly six billion dlrs japan favour last year has reached boiling point over the telecommunications issue howard said howard has accused japan trying shut out cable and wireless from having major role the international telephone market japan want fair crack the whip for cable and wireless want fair crack the whip for britain generally trading relations howard said simply aren prepared continue accept the imbalance which has been the position for such long time post and telecommunications ministry officials were unable comment howard meeting with their minister but foreign ministry officials said foreign minister tadashi kuranari said that british exports japan are increasing but acknowledged the continuing imbalance trade kuranari said wants everyone the telecommunications dispute including cable and wireless satisfied howard told reporters that britain was actively considering possible retaliatory measures did not get its way the telecommunications issue there are measures which are under consideration continue suffer from the imbalance our trading relations added but gave details said had received reassuring response from the japanese has spoken with but course had reassuring signs from the japanese for quite some time added what made plain expect see action howard ruled out using powers britain financial services bill retaliate against unfair trade practices those powers which allow london ban foreign financial firms like banks from britain are designed ensure firms equal access overseas financial markets reuter 
earn	cardinal industries cdni restates net lower cardinal industries inc said restated earnings for the first nine months dlrs nine cts per share from dlrs cts reported previously due the failure automated accounting system installed mid year and replaced the fourth quarter the company said its reliance segment sustained significant operating loss for the full year due the accounting problems and increased promotional and advertising expenses for the full year said earned dlrs cts share from dlrs cts cardinal industries said revenues for the year were mln dlrs from mln dlrs the company said for the first quarter earnings were about dlrs from dlrs nil per share the year ago period the year ago first quarter earnings however have been restated from dlrs four cts per share said sales for the first quarter were about dlrs from dlrs for the first half the company said restated earnings dlrs five cts per share from dlrs cts per share reported previously reuter 
ship	brazil seamen strike ends brazilian seamen strike which began february and has been tapering off for weeks has now ended seamen spokesman said the spokesman said the seamen had signed agreement with the state owned lloyd brasileiro company saturday for pct salary rise the national strike had been tailing off since mid march seamen struck individual accords with companies the height the stoppage seamen said about ships were strike bound reuter 
earn	interco inc qtr shr cts cts 
acq	whittaker wkr completes sale medical unit whittaker corp said has completed the previously announced sale its wholly oiwned whittaker general medical corp subsidiary holdings inc for undisclosed terms whittaker general medical has annual revenues about mln dlrs reuter 
earn	startel stas have loss sales drop startel corp said expects report first quartter loss pct revenue fall from the year earlier dlrs the company earned dlrs last year first quarter reuter 
earn	datron systems dtsi sees lower year net datron systems inc said expects report falloff earnings for the year ended march about pct from fiscal levels fiscal datron earned dlrs the company said new orders for the year just ended however rose pct mln dlrs bringing backlog year end mln dlrs reuter 
earn	data general take mln dlr pretax charge redeem mln dlrs debt 
acq	enterra corp sells two units enterra corp said has completed the sale its hale fire pump and macomson machine subsidiaries company formed los angeles investment firm mcbain rose partners for about mln dlrs cash both hale and macomson make fire pumps and related equipment reuter 
acq	fmd inc merger agreement fmd inc said has agreed acquire bankers protective financial corp for common shares subject approval the texas state board insurance bankers protective life insurance company based texas reuter 
earn	bedford computer corp year net shr not given net profit loss sales note company operating chapter bankruptcy sales exclude contract revenues dlrs net includes reversal dlrs reserves longer deemed necessary and tax credit dlrs reuter 
earn	interco inc iss qtr feb net shr cts cts net sales mln mln year shr dlrs dlrs net sales billion billion note results reflect two for one stock split july reuter 
earn	household int projects earnings rise household international inc said expects its fully diluted earnings per share for the first quarter about pct above the same year ago period also looks for full year fully diluted earnings about pct higher than the record dlrs share reported for chairman donald clark remarks prepared for delivery new york security analysts cited increased earnings from household financial services and excellent return equity from household manufacturing combined with the impact our share repurchase program will result higher earnings per share and improved return equity reuter 
earn	data general dgn take qtr charge data general corp said expects record extraordinary pretax charge about mln dlrs the second quarter ended march the company said the charge will result from redemption debt may data general said will redeem mln dlrs outstanding pct sinking fund debentures due the redemption price will pct the total principal amount notes then outstanding plus accrued interest the redemption date said interest will accrue will payable the debentures starting may the computer and communications company said data general reported loss mln dlrs six cts share for the second quarter ended march the loss included charge mln dlrs from redemption debentures the year ago quarter revenues fell less than one pct mln dlrs reuter 
money-fx	money market given further mln stg help the bank england said provided the money market with further mln stg assistance the afternoon session this takes the bank total help far today mln stg and compares with its revised estimate mln stg shortage the system which earlier revised from mln the central bank made outright purchases bank bills comprising mln stg band one pct mln stg band two pct mln stg band three pct and mln stg band four pct reuter 
acq	bow valley bvi sell norwegian subsidiary bow valley industries ltd said agreed sell its wholly owned norwegian subsidiary elf aquitaine norge stavanger norway for mln canadian dlrs the principal asset the subsidiary bow valley exploration norge eight pct interest the heimdal gas and condensate field offshore norway the sale expected conclude the middle april bow valley said reuter 
acq	emery air freight said hutton group ends offer for purolator courier 
acq	noranda buys shares sanivan group noranda inc said agreed buy initial treasury shares sanivan group inc dlrs per share noranda also has option until june acquire additional sanivan treasury shares dlrs per share sanivan the largest hazardous waste management company canada reuter 
acq	hutton efh ends purolator pcc bid emery air freight corp said has entered into agreement with hutton group inc efh under which hutton will terminate its merger agreement with purolator courier corp and its pending dlr per share tender offer effective april under its merger agreement hutton has the right unilaterally terminate the merger agreement under certain circumstances including its receipt less than pct purolator shares the start higher competing tender offer such emery competing dlr per share offer for purolator stock yesterday hutton acquisition corp subsidiary extended its tender offer which was have expired midnight for two more days said only about shares pct purolator shares had been tendered and not withdrawn down from pct interest held earlier emery bid expires april emery said pending the termination acquisition merger agreement has released purolator from agreement not discuss emery acquisition proposal with emery emery said result renewing its request that purolatr enter into merger negotiations with emery said were acquire pct purolator shares control the purolator board has agreed not dispute acquisition right receive fees that purolator agreed pay were unsuccessful acquiring control purolator due the acquisition control another party the company said has also agreed let purolator pay all acquisition documented expenses connection with the merger agreement three mln dlrs and emery has agreed pay the amounts itself should purolator fail reuter 
trade	volcker says exchange rate adjustment enough narrow trade deficit 
trade	volcker says reducing budget deficit needed improve trade balance 
trade	volcker says more stimulus abroad needed for adjustments trade balances 
earn	line software osi qtr feb net shr primary cts cts shr diluted cts cts net rev mln mln nine months shr primary cts cts shr diluted cts cts net rev mln mln note company full name line software international inc the qtr and year date results include the operations since the end october business purchase from martin marietta corp fiscal ending may the company initially adopted fasb statement number and required capitalized certain software deveopment costs during the qtr and nine months period ended febraury the company capitalized pre tax amounts dlrs and dlrs development costs respectively reuter 
acq	carolyn bean cben completes acquisition carolyn bean publishing ltd said has completed the acquisition greeting card company millen cards which had sales over dlrs for undisclosed terms the company said pct millen cards have been sold the northeast and mid atlantic states but bean expects increase sales dlrs this year distributing the line nationally millen specializes jewish religious cards and also sells traditional greeting cards reuter 
acq	chesapeake csk seeks sell unit chesapeake corp said has retained salomon inc help sell plainwell paper inc maker premium coated and uncoated printing papers and technical specialty papers with capacity short tons year the company said has decided sell plainwell ordfer focus the production kraft and tissue products containers and treated wood products reuter 
trade	volcker urges industrial nations keep trade markets open foster growth 
earn	tyco laboratories tyc qtr feb net shr primary cts cts shr diluted cts cts net mln mln revs mln mln avg shrs mln mln nine mths shr primary dlrs dlrs shr diluted dlrs dlrs net mln mln revs mln mln avg shrs mln mln note prior qtr and nine mths include mln dlrs cts per share from gain partial settlement insurance claim nine mths includes seven cts gain for partial settlement insurance claim results flow control operations have been included since its acquisition from itt corp jan nine mths prior includes extraordinary gain mln dlrs cts per share for replacement pension plan reuter 
earn	gold fields africa profit falls quarter qtr march working profit mln rand mln tax mln mln net mln mln tonnes milled mln mln gold production kgs kgs gold revenue mln rand mln working costs mln mln avg price per rand note full name company gold fields south africa ltd gldf reuter 
earn	wall street stocks marion labs mkc marion laboratories inc stock rose sharply today after the company presented bullish earnings scenario meeting for pharmaceutical analysts monday traders and analysts said the company said expects earnings for fiscal ending june rise more than pct over year ago that pronouncement encouraged analyst david crossen sanford bernstein and raise his earnings estimates for the company dlrs share compared his previous estimate dlrs share last year the company earned cts share marion stock gained the meeting pharmaceutical analysts marion president fred lyons said wall street eanrings estimates dlrs share for fiscal are expected cause even the aggressive side this range cts low lyons said the strong performance the second half this year will result from the fourth quarter introduction and cardizem tablets analyst crossen said that cardizem which treats angina also expected approved for the treatment hypertension the end the year crossen said because marion still just small company the growth cardizem having big impact the bottom line raised fiscal earnings estimates dlrs share from his previous estimate dlrs share the company has broad new product pipeline the industry and far concerned the most innovative company the business said for the five years through crossen expects marion have growth rate pct reuter 
trade	calls for greater gatt checks trade the united states has appealed for stronger powers for the general agreement tariffs and trade gatt enforce world trade rules the call deputy trade representative michael smith special committee meeting into the future gatt follows series bilateral trade rows which have clouded efforts the nation body promote fair trade today meeting was part the uruguay trade round launched ministers last september the round which covers areas trade agriculture manufactured goods and services will take four years negotiate smith called for boosting gatt links with financial institutions such the international monetary fund and world bank also urged greater involvement trade ministers ensure the success the uruguay round the gatt institution needs strengthened assure that the gatt plays its proper role management the world trading system and the global economy smith said rules can and will ignored the institution weak perceived unable adapt the changing world economy also also urged that member states accountable each other for their trade policies smith who flies brussels today for talks with european community officials told reuters the committee wanted stress gatt importance and did not discuss specifics are interested more periodic ministerial involvement whether formal informal meetings said gatt ruling council due hear complaint from the nation april about the japanese accord semiconductors the charges the accord breached gatt trade rules allowing tokyo set minimum prices for japanese chips sold third countries and requesting gatt dispute panel set review the agreement president reagan who strongly supported the uruguay trade round promote freer trade has said washington will impose tariffs against japanese electronic goods said tokyo had not shown willingness open its markets exports reuter 
trade	volcker urges quick aid debtor nations federal reserve board chairman paul volcker said that debtor nations have made much progress laying the groundwork for economic growth but solution world debt difficulties was endangered inaction new financing there clearly danger that adequate financing arrangements are not being negotiated and put place timely way volcker told the senate banking committee the borrowing countries need able proceed with confidence that the necessary funds will available them said brazil has the potential for becoming leading world economic power but difficult position today volcker said said will take concerted effort regularize brazil external payments the key prerequisite clearly the hands brazilian authorities said both brazil and its creditors have strong incentive work together volcker said regarding trade imbalances volcker said that was critically important that markets kept open the industrial nations addition the united states must reduce its budget deficit and foreign nations need provide stimulus their domestic economies volcker said need time for those actions and the earlier depreciation work their effects said reuter 
money-fx	volcker urges greater exchange rate stability federal reserve board chairman paul volcker said international policymakers should make improving the stability exchange rates major priority testimony before senate banking subcommittee volcker said does not have any specific proposals for improving exchange rate stability but thought was worthy goal think ought thinking about and working toward greater exchange rate stability volcker said think that the objective greater exchange rate stability ought loom larger among our various policy priorities reuter 
money-fx	italy says gives chance verify tokyo accord this week group seven meeting washington provides opportunity verify accord reached the tokyo summit last may include italy and canada group five talks management the international monetary system and related issues the italian treasury said said statement the meeting which italy plans attend will provide forum for considering the tokyo accord the light events paris february this year february italy boycotted meeting paris its partners the united states japan west germany france britain and canada after being excluded from earlier session talks involving members today statement from the italian treasury said nobody denies the existence but should like remembered that the tokyo accords provided for the enlargement the group italy and canada whenever the management the improvement the international monetary economic policy measures are discussed dealt with italy refused attend the paris meeting the grounds that grouping the united states japan west germany france and britain had reduced italy role rubber stamping agreements already taken the italian treasury said today that italy was certain that this time incidents would not occur but said would opportune look depth the role and the procedures relation those reuter 
earn	rolls approaches float with profits set rise state owned engine maker rolls royce plc launches its prospectus for privatisation tomorrow with many analysts forecasting higher profits this year but likely miss contracts power the proposed airbus industrie aircraft the company called pathfinder prospectus gives all the details its stock market flotation except for the price which shares will offered last month the company announced that pretax profits rose mln stg from mln the year before brokers barclays zoete wedd bzw sees mln profit for analyst tim harris phillips and drew said rising profits and low tax charge would offset the fact that rolls operated sector which traditionally attracted low ratings assuming the company was valued around eight times earnings this would give selling price valuing about billion though said the recent good performance the aerospace sector could nudge this figure upwards bzw currently forecasting higher sale price between billion and billion the price will increased being likely have much its debt wiped off government anxious assure the company health when has fend for itself rolls was rescued from bankruptcy and taken into state ownership when the government announced the sale said would inject permanent capital equivalent net debt around mln stg end into the company analysts noted this was necessary ensure rolls credit rating match those its main competitors such general electric and united technologies corp utx pratt and whitney unit reuter 
trade	volcker pushes spending cuts over trade bill federal reserve board chairman paul volcker said reducing the federal budget deficit was more important goal for congress than drafting trade legislation reduce the budget deficit volcker responded when asked member the senate banking committee about trade legislation priorities you don deal with the budget deficit everything else you going counterproductive said reuter 
acq	american sports advisors piks liquidate american sports advisors inc said has agreed sell its sports handicapping and publication business professor enterprises for about dlrs and intends liquidate after closing the transaction subject shareholder approval professor owned american sports president edward horowitz and mike warren said reuter 
money-fx	volcker says restrictive monetary policy would hurt investment 
money-fx	volcker sees tight policy hurting investment federal reserve board chairman paul volcker said restrictive monetary policy would damaging investment and that better course would restrain spending restrictive monetary policy would hit investment you don want put interest rates unless you have volcker told the senate banking committee that not constructive way proceed said volcker said that given choice between squeezing the budget deficit squeezing investment would favor squeezing the budget deficit response question about banks volcker said would pleased congress decided give banks tax writeoff incentive for them take greater reserves against loans debtor countries you give tax writeoff for reserving against loans then will see more reserving and that would make happy volcker told committee chairman sen william proxmire wisc reuter 
earn	new bedford institution for savings nbbs year net mln note company went public march reuter 
earn	photronics corp phot year feb net shr cts cts net sales mln reuter 
earn	ocean bio chem inc obci year net shr eight cts seven cts net sales reuter 
acq	tele communications tcoma sells cable systems knight ridder inc kri said its tkr cable joint venture with tele communications inc has signed letter intent acquire cable television systems with basic subscribers wildwood and ramapo and warwick from tele communications for undisclosed terms reuter 
earn	environmental power corp powr year net shr profit cts loss cts net profit loss revs reuter 
acq	brokerage firm ups stake allegheny the new york brokerage firm spear leeds and kellogg told the securities and exchange commission had increased its preferred stock allegheny international inc pct from pct said may buy additional shares but had not decided whether offer its shares response tender offer sunter acquisition corp unit first boston inc the brokerage firm said bought the allegheny shares march april for dlrs each reuter 
money-fx	fed sets two day system repurchases fed says 
acq	corroon and black cbl complete acquisition corroon and black corp said completed the acuqisition contractors planning group inc exchange shares contractors headquartered garden city and has branch offices philadelphia boston and cheshire conn reuter 
acq	colonial clbga acquire pensacola bank colonial bancgroup said and the liberty bank pensacola fla signed letter intent for colonial acquire liberty terms the acquisition were not dislcosed colonial said the acquisition was its first move toward acquiring and out state bank under alabama regional interstate banking law liberty has total assets mln dlrs reuter 
earn	super rite foods inc srfi sets qtrly payout qtrly div five cts five cts prior pay april record april 
earn	milton roy mrc sets quarterly qtly div cts cts prior pay june record may reuter 
acq	goldsil and golden rule agree merge golden rule resources ltd and goldsil resources ltd said they had agreed merge the merged company will issue each golden rule shareholder shares and one warrant the warrant will for term two years payment dlrs and delivery two warrants will entitle the shareholder one additional share the merged company the companies said each goldsil shareholder will receive one share and one half warrant the warrant will for term two years payment dlrs and delivery two warrants will entitle the shareholder one additional share the merged company reuter 
money-fx	fed sets two day system repurchases the federal reserve entered the government securities market arrange two day repurchase agreements for system account spokeswoman for the new york fed said fed funds were trading pct the time the direct injection temporary reserves dealers said most economists had expected less aggressive injection reserves via customer repurchase agreements reuter 
earn	colonial bancgroup inc clbga qtr net shr cts cts net mln note qtr includes loan write offs banking subsidiary the colonial bank mobile due loan losses mln dlrs cts share reuter 
earn	dresdner propose dividend marks same one for bonus share issue 
trade	japan cuts chip supply may produce shortage japan attempting cut back semiconductor production forstall the mln dlrs tariffs japanese electronic goods set take effect april industry analysts said the move likely create sharp price rise and possible shortage the key computer components the next few weeks the analysts said prices have gone for memory components the mainstay the japanese semiconductor industry analyst drew peck donaldson lufkin and jenrette said but analysts said the price rises have been slight far and some questioned whether japan would successful forcing japanese companies cut production the long run others however were more optimistic saying evidence was already hand that japan has cut back prodution and halted sales the grey market the third country brokers that sell chips below production costs seen the grey market begin dry for rams and has virtually dried for eproms said merrill lynch analyst thomas kurlack the two key memory chips used computers prices are inching and lead times deliveries are stretching kurlack added industry analysts said japan ministry international trade and industry miti had requested the cut backs production meet the terms last year semiconductor accord with the the reagan adminsitration recently proposed tariffs japanese electronic goods alleging that japan had failed live the accord and continued dump the computer components the market but some analysts said japan attempt mollify the was double edged sword and might read subtle form trade retaliation for the tariffs proposed the production japan cut these analysts argue prices will rise the and few american semiconductor manufactures will able take the slack since most long ago exited the market for memory chips computer makers that use the chips their machines will then pressured the japanese are looking for ways reduce trade pressures from washington but the same time they demonstating their muscle analyst peck said the cut backs japanese production are expected benefit chip makers think this could very important factor for semiconductor manufacturers industry analyst elliot levine ladenburg thalmann said but analyst peck said will take few weeks see whether japan has genuinely cut production said japanese manufactures were likely view miti request unfavorably because chip capacity was still high and production cut backs would lead significant write offs plant and equipment reuter 
acq	investors raise stake purolator pcc two new york management investment firms told the securities and exchange commission they had increased their holdings purolator courier corp pct from pct mutual shares corp and mutual qualified income fund inc said they were weighing offers buy purolator shares from acquisition inc unit hutton lbo inc for dlrs share and from eaf acquisitions corp inc unit emery air freight corp dlrs they told the commission they had bought their new purolator shares march for dlrs each reuter 
grain	grain certs save mln dlrs amstutz the use generic commodity certificates certs for fiscal years will save the government mln dlrs department agriculture undersecretary daniel amstutz said speaking house agriculture subcommittee hearing the use the certificates amstutz said that the issuance billion dlrs certificates during fiscal years could result government outlays mln dlrs however the use certificates preclude the need for mln dlrs storage and handling costs resulting net savings for the government mln dlrs said without the use certificates amstutz said nearly the entire crop which had been put under loan would have been forfeited the commodity credit corporation ccc addition mln bushels grain that have been redeemed from ccc inventory through certificate exchanges would have remained the goverment inventory said when asked comment recent study the general accounting office that concluded certificates result net cost the government amstutz said gao underestimated the benefits and overstated the costs the certificate program amstutz said while certificates encourage more loan entries they also encourage heavier loan redemptions rather than forfeitures gao underestimated this net loan activity amstutz said there question the mind the department agriculture that these certificates have been very useful amstutz said immediate benefits certificates include greater market liquidity improved market price competitiveness higher farm income and improved debt situation and decreased carrying costs said certificates are integral part usda long range market oriented farm policy said amstutz told subcommittee chairman rep dan glickman kans that usda the process preparing official response the gao study certificates and will submit the subcommittee when completed reuter 
interest	volcker says fed policy not responsible for prime rate rise 
trade	urges surplus nations boost growth leading industrial nations will reviewing the paris agreement stabilize exchange rates foster increased worldwide growth and reduce trade imbalances but the thinks the accord has been successful far senior treasury official said the paris accord will reviewed this meeting has been successful and continues succesfull senior treasury official told reporters briefing ahead this week semiannual imf and world bank meetings also said the was looking west germany and japan bolster their economic growth the official said both surplus countries like west germany and japan and deficit countries like the agreed play role bringing about more balanced economic growth reaffirmed the would press ahead with efforts reduce its budget deficit resist protectionism and boost competitiveness the official also said that expected trade issues like the dispute between the and japan over microchips included the discussions the official made direct comment the content schedule forthcoming group five and group seven discussions said that industrial countries are concerned that the large external imbalances remain threat the international monetary system added that the meetings will also provide opportunity discuss economic policy coordination efforts the official said indicators would used measure policy objectives industrial countries and their economic projections they would also used assess progress policy goals asked whether the was proposing new initiative regarding the indicators the official said the issue would reported the venice summit june monetary sources said the proposal envisages using the indicators make policy coordination agreements like the paris accord more binding reuter 
acq	acme precision acl sets holder vote buyout acme precision products inc said set its annual meeting for may for shareholders vote the proposed management led leveraged buyout the company the record date for the meeting will april with proxy materials sent shareholders before april the buyout proposal which was previously announced will structured one for reverse stock split must approved majority shareholders acme precision has shares outstanding reuter 
interest	volcker says fed policy not linked rate rise federal reserve board chairman paul volcker said that did not believe there was connection between the fed policies and the recent rise the prime interest rate most major banks asked reporters following testimony before the senate banking committee whether the fed had anything with the rise pct the prime replied not that was able detect reuter 
earn	weis markets wmk three for two stock split weis markets inc said its board declared three for two stock split for holders record may with distribution date may the company also said regular quarterly dividend cts per share the pre split shares will paid may shareholders record may reuter 
earn	mccormick capital mkor year net shr primary cts cts shr diluted cts cts net revs mln reuter 
interest	says pact relief for poorest states there consensus far among industrial countries agreement providing debt relief for the world poorest nations senior treasury official said the official said there has not been consensus reached yet when asked about reports the paris club western creditors had agreed long term stretch outs african debt concessional interest rates the official briefing reporters this week semiannual imf meetings said the issue would discussed this week and the had open mind the proposal but did object concessional interest rate relief reuter 
acq	family health systems fhsy make purchase family health system inc said the federal bankruptcy court fort worth texas has approved its offer purchase sheppard dental centers inc assets from chapter bankruptcy proceeding for about dlrs fhs administers and markets multiple office dental practices the dallas metropolitan area well dental offices the dallas metroplex the company said plans open locations dallas the end reuter 
earn	old fashion foods inc offi qtr feb net shr cts cts net revs avg shrs nine mths shr cts cts net revs mln mln avg shrs reuter 
earn	consolidated bathurst sees better market consolidated bathurst inc said expects improvement the pulp and paper sector shown the second half continue this year the continued improvement would due good market demand better product prices and high operating capacity the company said its annual report consolidated bathurst which reported operating profit mln dlrs last year sales billion dlrs said its joint venture acquisition market pulp mill castlegar last year broadens its product range and will contribute equity earnings last year results were from operating profit mln dlrs and sales billion dlrs the company said views its near term prospects with improved optimism said results from its bridgewater newsprint mill the should improve greatly this year due stronger capacity and production and more favorable market conditions said anticipates return profitability for its diamond bathurst inc dbh subsidiary which lost mln dlrs and underwent reorganization last year and expects higher sales and earnings for its other north american packaging divisions consolidated bathurst said the outlook for its europa carton unit mixed said the effect trade disputes between the united states and the european economic community the west german economy and the higher value the mark may lead increased costs which could not offset price increases reuter 
grain	more grain certificates needed study says more generic grain certificates should released onto the market order for the certificate program have its full effect commodities according study sparks commodities inc the agriculture department should make grain deficiency payments and paid land diversion payments two third certificate one third cash ratio through fiscal year carroll brunthaver president sparks commodities told house agriculture subcommittee hearing certificates thereafter government payments should issued roughly split between cash and certificates brunthaver said the sparks study certificates examined two possible scenarios through the growing season zero certificate case where certificate program was assumed and alternative case labeled adequate certificate case which sufficient certificates would released that grain prices would not artificially supported market shortages due acreage reduction programs government holdings the study showed that total grain use under the adequate certificate scenario would exceed the zero certificate scenario pct usage would markedly more and when grain usage under certificate program was estimated exceed the zero certificate case pct for the five year period examined government expenditures under the adequate certificate case were billion dlrs pct less than under the zero certificate case the sparks study said that billion dlrs pct those savings resulted from smaller government storage costs the study also estimated that government grain stocks under the adequate certificate case would billion bushels below the zero certificate case the end the period examined the sparks study said that while certificates permit market prices fall below loan levels these lower prices increase commodity usage and reduce the net costs certificates versus cash reuter 
earn	cummins engine cum sees improved earnings cummins engine said told shareholders higher engine orders the north american heavy duty truck market will result improved earnings the first quarter cummins said the company should make progress this year and next toward its goal five pct profitability cummins recorded net income dlrs cts per share sales mln dlrs said expects north american heavy duty truck production total units pct increase from cummins said expects capital expenditures total about mln dlrs down from mln dlrs the year before reuter 
acq	north west telecom nowt makes acquisition north west telecommunications inc said acquired the assets and customer base com tel systems inc telephone interconnect firm that operates crosse and stevens point wis and rochester minn said the purchase only includes the businesses crosse and rochester terms were not disclosed reuter 
earn	milton roy mrc sets regular dividend qtly div cts cts prior pay june record may reuter 
earn	ohio mattress omt qtr feb net shr cts cts net revs mln mln note aggregate judgments antitrust and other suits mln dlrs not included year ago qtr results company said any portion this amount including related interest attorneys fees would proportionately reflected reduction its minority interest sealy recorded its consolidated balance sheet upon final settlement litigation note consolidated balance sheet end qtr reflects after tax impact mln dlr settlement won sealy licensee michigan results include all operations all acquired sealy brand licensees and pct sealy remaining pct sealy recorded minority interest proceeds mln dlrs from sale stock and debt were used reduce balance revolving credit agreement mln dlrs accordingly mln dlr obligation banks under credit agreement was recorded long term liability end qtr note april company intends acquire michigan sealy licensee and fund transaction with mln dlrs cash and borrow balance required from banks reuter 
grain	ussr crop weather summary usda noaa gradual warming continued most regions western soviet union the week ended april the joint agricultural weather facility the agriculture and commerce departments said its international weather and crop summary the agency said most the region precipitation fell rain the southern snow cover boundary continued slowly retreat northward and eastward said moderate deep snow cover the northern half the ukraine northern north caucasus and the lower volga about one month later than usual said the agency said average weekly temperatures were below normal the southeast near normal the southwest and northeast and above normal the northwest winter grains remained dormant over the region but warm weather promoted greening crop areas adjacent the black sea coast said reuter 
acq	general partners terminating offer for gencorp inc 
earn	burlington northern inc qtr shr profit cts loss dlrs 
grain	iowa grain elevator explodes burns explosion and fire today damaged grain elevator bancroft iowa destroying thousands bushels grain authorities said the pre dawn explosion ripped the wooden elevator open and fire that followed continued burning late morning but had been contained according dispatcher the algona police department injuries were reported the lone rock coop facility the dispatcher said the elevator was filled with corn and nearby drying building holding soybeans was fire the explosion was the second four days iowa following the destruction archer daniels midland elevator burlington last friday reuter 
earn	artistic greetings artg sees recovery net artistic greetings inc said expects rebound profits and increase sales costs connected with computerization staffing traning and catalog sales start taper off today reported earnings dlrs down from dlrs year before revenues dlrs from dlrs reuter 
acq	partnership buys pct orange stake parsow partnership ltd elkhorn neb investment partnership said bought pct stake orange inc common stock investment filing with the securities and exchange commission parsow said had bought all its orange shares the open market with funds from its working capital the partnership whose sole general partner elkhorn investor alan parsow said has present intention effecting any change the control orange inc reuter 
crude	cooperative energy tests oil two wells cooperative energy development corp said two exploratory oil wells the zama area alberta tested and barrels day and will increase the company daily oil production pct the company did not immediately elaborate total production figures the wells flowing oil from the keg river formation will constrained combined production about barrels day optimize reserve recovery the company said permanent production facilities are being installed and the wells will produce pipeline mid april reuter 
earn	cummins engine inc cum sets payout qtly div cts cts prior pay june record june reuter 
earn	central bancshares cbss qtr net shr cts cts net mln assets billion billion deposits billion billion loans billion billion note full name company central bancshares the south inc reuter 
acq	textron txt plans sale avco division textron inc said plans sell its avco specialty materials division part its debt reduction and restructuring the company said will use proceeds from the sale reduce the debt incurred its acquisition cell corp last year textron said morgan stanley and will represent the sale reuter 
earn	green tree acceptance inc gnt qtr net shr cts cts net rev mln mln avg shrs note per share results adjusted for two for one common stock split june reuter 
acq	avon says buy giorgio inc fragrance company for mln dlrs 
acq	avon products avp buy giorgio for mln avon products inc said reached agreement principle purchase giorgio inc fragrance company for mln dlrs cash giorgio annual revnues are more than mln dlrs avon said the acquisition has been approved avon board with the closing set for may the transaction would have impact avon current dividend rate said giorgio boutique beverly hills calif will sold back fred hayman one the shareholders who will continue operate independently avon said avon said identified giorgio more than year ago preferred acquisition candidate said launching prestige fragrance developed conjunction with catherine deneuve this spring giorgio will operated separate subsidiary avon said and would not compete with avon direct selling beauty products business reuter 
acq	gencorp says buyback better than takeover gencorp inc said the decision general partners comprised afg industries and wagner and brown end its hostile offer for the company supports its belief that the buy back offer announced yesterday was financially superior alternative gencorp said would annouce details its plans buy back pct its stock for billion dlrs dlrs share later this week gencorp buy back was made fend off the hostile billion dlr dlr share tender offer afg and wagner and brown earlier today afg and wagner and brown said that without the benefit additional information available gencorp management cannot compete economically with gencorp proposal the group said ending its tender offer for gencorp and promptly return tendering shareholders all shares tendered pursuant its offer the group owns pct shares gencorp outstanding shares reuter 
acq	berry petroleum norris oil noil merge berry petroleum said its board and the norris oil board approved merger agreement that calls for norris become wholly owned berry subsidiary berry privately owned company which already owns pct norris oil stock said the agreement calls for norris public shareholders receive berry common shares for each norris share held reuter 
earn	total system services inc tsys qtr net shr nine cts seven cts net revs mln mln reuter 
earn	hubco inc hco qtr net shr cts cts net assets mln mln reuter 
earn	wilderness experience inc qtr loss period ended jan shr loss three cts loss two cts net loss loss sales year shr loss cts loss cts net loss loss sales reuter 
earn	total systems services tsys qtr net shr nine cts seven cts net revs reuter 
ship	bermuda star bsl leases vessel bermuda star line inc said has leased ton passenger vessel from orley shipping inc liberia for term with options extending for years the vessel liberte will renamed the canadian star and will used for cruises montreal from new york beginning june orley shipping partially owned common brothers plc maritime firm which owns pct bermuda star shares and arranged debt financing for the ship purchase orley acquired the vessel from banstead shipping ltd terms were not disclosed reuter 
earn	premdor plans two for one stock split premdor inc said planned two for one common stock split subject shareholder approval the may annual meeting said the split approved would take effect may premdor manufactures and sells wood doors reuter 
earn	teletrak advanced technology qtr loss shr loss two cts loss two cts net loss loss rev avg shares year shr loss five cts loss five cts net loss loss rev avg shares note company full name teletrak advanced technology systems inc and unit helm resources net loss includes loss from discontinued operations dlrs reuter 
acq	cannon can sells stake hbo cannon venture cannon group inc said agreed principle sell its pct interest the hbo cannon video joint venture the home box office unit time inc the company said making the sale because the near future all its video products will licensed the united states and canada either the warner brothers unit warner communications inc wci media home entertainment reuter 
earn	houston oil trust halts royalties houston oil trust said there will royalty funds available for distribution unit holders april also said that based recent independent petroleum engineers estimates oct there may amounts avialable for distribution the rest the year reuter 
earn	upper peninsula power upen sets payout qtly dividend cts cts pay may one record april reuter 
earn	itt corp itt declares dividend qtly div cts cts prior pay july record may reuter 
earn	pacific lighting corp plt qtly dividend shr cts cts prior qtr pay may record april reuter 
earn	staley continental sta regular dividend set qtly div cts cts previously pay june eight record may reuter 
earn	itt corp itt regular qtrly dividend qtly div cts cts prior payable july one record may reuter 
acq	sportscene acquires christophe van houtte chain sportscene restaurants inc said acquired cafe christophe van houtte inc cafe chain with ten franchises and one corporate restaurant for unspecified amount cash and sportscene shares reuter 
earn	ronson corp ronc qtr dec shr loss cts loss seven cts net loss loss revs mln mln year shr loss cts profit cts net loss mln profit revs mln mln note loss includes reserves includes tax benefit and dlrs qtr includes dlrs writedowns dlr gain from sale net includes extraordinary items and gain sale mln dlrs tax carryforward gain dlrs reuter 
acq	manufacturers mhc building foreclosure manufacturers hanover corp said its ofp inc unit acquired dallas office building through foreclosure the company said foreclosed the allied bank tower mln square feet office building one fountain place dallas reuter 
earn	shear industries inc hsi sets payout qtrly div cts cts prior pay april record april reuter 
acq	coca cola bottling coke terminates talks coca cola bottling consolidated said terminated negotiations with the proposed purchaser its wholly owned subsidiary headquartered vancouver the company said vigorously continuing its efforts sell its canadian operations substantially the terms and conditions previously announced reuter 
acq	careplus cpls seeks approval acquisition careplus inc said will seek shareholder approval its proposed acquisition certain assets and assumption certain liabilities professional care inc pci connection with the acquisition shareholders will requested approval the merger careplus into its newly formed delaware subsidiary careplus said careplus said its board has tentatively determined that its stock would exchanged for common stock the new corporation the rate seven for one reuter 
acq	group buy more intermedics itm shares investor group including bessemer securities corp and cilluffo associates told the securities and exchange commission asked federal antitrust regulators for advance clearance hold more than mln dlrs intermedics inc common stock the group said currently holds mln shares pct the total outstanding following purchases shares march april group spokesman would not disclose the total purchase price its current holdings the group has said accumulating intermedics stock for investment purposes reuter 
earn	seagate technology sgat qtr march net shr cts cts net sales mln mln avg shrs nine mths shr dlrs cts net sales mln mln avg shrs reuter 
acq	group raises texstyrene foam stake pct investor group led dart container corp sarasota fla plastic utensil maker told the securities and exchange commission raised its stake texstyrene corp common shares the total outstanding the group said bought the shares for investment and intends continue buy texstyrene stock the future the group said its most recent purchases included shares bought march ordinary brokerage transactions reuter 
acq	enro holding buys enro shirt and foxcroft enro holding corp said acquired enro shirt and foxcroft ltd from wilson bros for mln dlrs enro holding owned pct investors and pct management and others the investor group bought pct the common equity and supplied five mln dlrs mezzanine financing management bought the other pct congress financial group supplied mln dlrs senior financing and the seller took back note for mln dlrs enro shirt has annual sales about mln dlrs and foxcroft has sales about mln dlrs reuter 
earn	spartech sptn reverse stock split approved spartech corp said shareholders the annual meeting approved reverse stock split the common stock one for five basis the company said the split was necessary preparation for offering mln dlrs convertible subordinated debentures expected made soon through kidder peabody and said the new common stock will begin trading april under the symbol sptnd separately spartech said its board appointed bradley buechler president filling vacancy said lawrence powers remains chairman buechler prior his promotion was executive vice president and chief operating officer will retain his duties chief operating officer reuter 
earn	people ridesharing systems ride qtr net shr primary profit two cts loss nine cts shr diluted profit one cent loss six cts net profit loss revs avg shrs note full name company people ridesharing systems inc reuter 
interest	desjardins group lowers visa interest rate confederation des caisses populaires economie desjardins the quebec credit union group said lowering the interest rate unpaid balances its visa credit card pct from pct effective with june billing statements the move follows cuts credit card interest rate charges several canadian banks reuter 
earn	seeq technology inc seeq qtr march shr profit eight cts loss dlrs net profit loss revs mln avg shrs six mths shr loss nine cts loss dlrs net loss loss revs mln mln avg shrs reuter 
earn	nacco industries report qtr gain nacco industries inc said will report gain the second quarter about mln dlrs dlrs share from the sale stock subsidiary nacco said its north american coal corp unit has received notice that consolidation coal unit pont will exercise option buy all the stock quarto mining subsidiary north american coal for the stock north american coal will receive about mln dlrs mln which will paid closing april and the rest installments the company said addition quarto will pay dividend north american coal about mln dlrs from retained earnings before closing the funds were previously used finance mining operations consolidation coal got the option from the capco group utilities which received the option from nacco nacco reported earnings mln dlrs dlrs share last year second quarter quarto generated mln dlrs net income equal cts share nacco total earnings dlrs share quarto produced about mln short tons the mln tons produced north american coal nacco said reuter 
earn	buffton buff post investigation charge buffton corp said will conduct investigation plant designated superfund site which will result charge about six cts per share its second quarter the year ago second quarter buffton reported net income cts share dlrs sales mln dlrs the study should completed nine months and will determine any clean remedial action that may required robintech inc the plant former owner will split the cost buffton said its share will cost dlrs reuter 
acq	american dynamics amdc sell pct stake american dynamics corp and meridian reserve inc said they signed definitive agreement under which meridian will buy mln shares pct american dynamics common stock under terms the agreement santa ana calif based meridian said will pay columbus based american dynamics one mln dlrs cash and notes over five years and about shares its common stock meridian said has the option issue additional shares its common over the next two years payment certain the notes meridian oil and gas company whose operations are primarily oklahoma said the acquisition will increase its its consolidated assets mln dlrs and its contractually committed gas reserves more than mln dlrs discounted present value american dynamics engaged gas gathering transmission and liquids extraction also oklahoma the companies said they have five extracting plants and about miles transmission lines five adjoining oklahoma counties reuter 
money-fx	ussr exchange rates soviet state bank effective april roubles per hundred unless stated stg bfr dmk dfl lit can dkr nkr ffr skr unch fin mrk unch sfr yen aus sch aus dlr unch pak rup unch ind rup unch irn ryl unch lib din one unch mrc drhm unch 
earn	republicbank rpt reclassify brazil loans republicbank corp said has placed mln dlrs all intermediate and term loans brazil non accrual basis march said the reclassification will reduce first quarter earnings mln dlrs after taxes and mln dlrs after taxes for all brazil does not change its position moratorium interest payments republicbank also said its net income for the first quarter expected about mln dlrs cts share fully diluted basis the year ago first quarter the company earned mln dlrs cts share the company also said its first quarter results are expected include provision for loan losses mln dlrs about mln dlrs over net loan charge offs about mln dlrs said the provision will increase loan losses about mln dlrs pct loans republicbank with total assets about billion dlrs announced december agreement with interfirst corp ifc form first republicbank corp the merger approved regulatory agencies and stockholders would create the largest bank holding company the united states reuter 
acq	amoskeag bank amkg seek rehearing amoskeag bank shares inc and portsmouth savings bank said they will file motions for rehearing with the new hampshire supreme court its march ruling that overturned state regulatory approval amoskeag acquisition portsmouth the ramifications this decision believe well beyond the affiliation amoskeag and portsmouth savings bank said amoskeag chairman william bushnell the transaction was opposed group portsmouth investors who wanted the bank remain independent according press reports reuter 
earn	trilon declares stock dividend trilon financial corp said declared stock dividend one class share for each two class shares held payable may shareholders record april reuter 
acq	allegheny prefered shareholders file suit allegheny international inc which has agreed merge with jointly formed first boston inc affiliate deal worth dlrs said shareholders its preferred stock have filed class action complaint against the company the complaint alleges among other things that the company and its board agreed pay first boston illegal seven mln dlr topping fee received higher offer for the company prior the buyout the suit contends that this fee hampers allegheny ability attract other offers take other actions that would benefit holders preferred stock the complaint also alleges federal securities laws violations and breach fiduciary duty the suit requests injunction against proceeding with the pending offer being made sunter acquisition acquire allegheny sunter acquisition corp and sunter holdings corp were formed first boston and allegheny allegheny said and the sunter concerns intend vigorously defend the complaint charges the complaints were filed robert moss and other parties who are believed own about shares allegheny preferred stock reuter 
trade	canadians urge exemption from trade bill group canadian lawmakers from ontario today asked their counterparts exempt canada from the mandatory trade retaliation provisions major trade bill being considered the congress meeting the northeast midwest coalition organization legislators david cooke chairman the ontario parliament select committee economic affairs said the exemption would help trade relations the trade legislation considered the full house late april would require president reagan retaliate against foreign unfair trade practices unless the trade actions would harm the economy currently reagan can reject trade sanctions any grounds cooke member the liberal party told the congressmen can understand the trade bill think has with concerns you have with the other parts the world would suggest you that are your best friends you not have those concerns with canada and you should sincerely consider exempting our country from that bill added canada the united states largest trading partner with two way trade more than billion dlrs according the coalition but the ran billion dlr deficit manufactured goods that year compared billion dlr surplus services trade with its neighbour reuter 
earn	american agronomics corp agr qtr feb shr profit one cts loss three cts net profit loss revs mln mln six months shr profit six cts loss six cts net profit mln loss mln revs mln mln note six months includes gain four cts from change accounting principle reuter 
earn	helig meyers hmy increases dividend qtly div eight cts seven cts prior payable may record april reuter 
earn	helig meyers hmy year feb shr dlrs dlrs net mln dlrs mln revs mln mln note results reflect year month period because company changed fiscal year end february from march reuter 
earn	kelly oil and gas partners kly year dec shr cts cts net mln mln revs mln mln reuter 
money-fx	japan seeks strengthen paris currency accord japan will seek strengthen the paris accord currency stability the meeting the group seven leading industrial nations tomorrow japanese officials said however the officials travelling with japanese finance minister kiichi miyazawa and who asked not identified would not provide any details how they wanted the accord which was signed the six leading industrial democracies february strengthened currency target zones reference ranges will not discussed the meeting which scheduled for tomorrow the japanese officials said the meeting which being held conjunction with this week international monetary fund world bank sessions will reaffirm the currency pact and there need for changing the language used the paris accord the officials said miyazawa met with treasury secretary james baker early this afternoon and discussed the dollar yen exchange rates officials said but they declined disclosed the details that discussion the japanese officials also declined detail what miyazawa and baker discussed the subject greater joint intervention currency markets stabilize the dollar independent american intervention the officials said such money market action stabilize the dollar not only for the benefit japan which suffering from sharp appreciation its currency but also for the benefit the united states well urgings for japan take steps boost its domestic demand reduce its trade surplus japan will explain economic measures the the officials said however miyazawa failed outline the size the japanese economic package his meeting with baker today because the japanese budget has not been authorized the diet parliament despite the new fiscal year which started april one the officials said japan ruling liberal democratic party revealed its own economic package today calling for more than billion yen additional spending reuter 
earn	tcw convertible securities cvt sets dividend tcw convertible securities fund inc said its board declared initial quarterly dividend three cents per share payable april shareholders record april tcw said anticipates paying regular quarterly dividend the company made its initial public stock offering march five reuter 
money-fx	south korean won fixed month high the bank korea said fixed the midrate the won the dollar its highest level since february when was the won was set yesterday the won has risen pct against the dollar far this year after rising pct reuter 
ship	australian unions launch new south wales strikes australian trade unions said they have launched week long strikes and other industrial action new south wales nsw protest against new laws that would reduce injury compensation payments union sources said talks with the state government broke down last night but the two sides are scheduled meet later today attempt find compromise rail freight and shipping cargo movements the country most populous state were the first affected and union officials said almost every business sector will hit unless there quick settlement the state government recently introduced new workers compensation act which would cut the cash benefits injured workers third the act now awaiting parliamentary ratification nsw state premier barrie unsworth has said workers compensation has risen steeply recent years and the proposed cuts would save hundreds mlns dollars year union officials said industrial action could spread other states the federal government also plans make sharp cuts workers compensation reuter