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kentucky central life kenca sets payout kentucky central life insurance co said it declared a semi annual dividend of cts per share payable march to shareholders or record march the dividend is equal to the company s previous semi annual payout reuter | 2earn
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bank of new england corp bkne qtly dividend qtly div cts vs cts prior pay april record march reuter | 2earn
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ford f europe earnings up pct last year ford europe s net earnings soared by per cent last year to mln dlrs kenneth whipple chairman of ford europe said whipple here to attend the geneva auto show which opens on thursday said that the ford motor co unit had sold a record million vehicles in europe in net earnings were mln dlrs in sales in represented per cent of the european market share whipple said ford will invest billion dollars in europe in and a total of seven billion over the next seven years he added reuter | 2earn
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opec within output ceiling subroto says opec remains within its agreed output ceiling of mln barrels a day and had expected current fluctuations in the spot market of one or two dlrs indonesian energy minister subroto said he told reporters after meeting with president suharto that present weakness in the spot oil market was the result of warmer weather in the u s and europe which reduced demand for oil prices had also been forced down because refineries were using up old stock he said he denied that opec was exceeding its agreed production ceiling asked what opec s output level was now he replied below mln barrels per day he did not elaborate he said there appeared to have been some attempts to manipulate the market but if all opec members stick by the cartel s december pricing agreement it would get through present price difficulties he predicted that prices would recover again in the third and fourth quarters of he also reiterated that there was no need for an emergency opec meeting he said opec had expected to see some fluctuations in the spot price we hope the weak price will be overcome and predict the price will be better in the third and fourth quarters refiners he said appeared to have used up old stock deliberately to cause slack demand in the market and the price to fall but opec would get through this period if members stuck together reuter | 1crude
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cra ltd net profit mln dlrs vs mln | 2earn
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transamerica sells occidental life australia equity investment company battery group ltd said it had agreed to buy occidental life insurance co of australia ltd from transamerica corp ta of the u s for mln australian dlrs the acquisition has been made possible by the efforts of its major shareholder pratt and co financial services pty ltd battery group said in a statement the purchase will be partly funded by the issue of eight mln shares at dlrs each and four mln free options to the pratt group controlled by entrepreneur dick pratt plus four mln shares to professional investors at each it said the balance will be funded by debt battery group said the acquisition is subject to the approval of its shareholders on completion of the share placements pratt group will effectively have pct of battery s enlarged capital assuming exercise of all options it said battery now has mln shares on issue battery said occidental life is a major underwriter of individual term life insurance and a recent but fast growing entrant in the individual account superannuation market it has some mln dlrs in funds under management reuter | 0acq
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cra ltd craa s net net mln dlrs vs mln shr cents vs final div to announced after july vs final cents making sales revenue billion vs billion investment income mln vs mln shrs mln vs mln note net is after tax mln dlrs vs mln interest mln vs mln depreciation mln vs mln but before net extraordinary loss mln vs profit mln reuter | 2earn
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comalco ltd net profit mln dlrs vs loss mln | 2earn
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comalco ltd cmac s net net profit mln dlrs vs loss mln net is equity accounted pre equity accounted net mln dlrs vs loss mln pre equity shr profit cents vs loss final div to be announced after july vs first and final cent sales billion vs billion other income mln vs mln shrs mln vs same note net is after tax paid mln dlrs vs credit mln interest mln vs mln depreciation mln vs mln and minorities mln vs loss but net is before net extraordinary loss mln vs nil extraordinaries comprise exchange losses mln provision for goldendale smelter closure costs mln and increase in future tax provision mln reuter | 2earn
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japan moves to tighten chip export curbs the ministry of international trade and industry miti acted to tighten restrictions on microchip exports to countries other than the u s to preserve a u s japan pact on semiconductor trade but major japanese chipmakers doubt its usefulness a miti spokesman said his ministry had asked chipmakers to issue certificates to specified trading houses stating they are authorised exporters trading houses applying for a miti export licence will be required to show such a certificate but those without it will not automatically be denied licences he said but some industry officials predicted any government measures were likely to have limited effect as long as the world semiconductor market remained weak u s government and industry officials have complained repeatedly that japanese chipmakers continue to sell at below cost to third countries despite the july agreement japanese firms and officials in turn argue the flow of cheap chips to third countries is due to grey market sales by third party brokers who seek to profit from the gap between low prices in japan and higher prices based on production costs and set for japanese makers under the agreement the miti spokesman said if the percentage of grey market is increasing for one specific company it suggests they are distributing their products through their sales network knowing they will be exported by some means in that case we will ask them what they are doing to reduce the figure miti earlier asked makers to cut output of certain chips by pct in first quarter spokesmen for the firms said but they doubt the usefulness of the latest move as long as there is a gap between prices set under the pact and market prices there will be people who want to exploit the gap to make money a hitachi ltd hit t spokesman said reuter | 7trade
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fisons plc fisn l year to end shr p vs p div p vs p making p vs p pre tax profit mln stg vs mln turnover mln vs mln tax mln vs mln finance charges mln vs mln minority interest mln vs mln extraordinary debit being closure and restructuring costs mln vs mln operating profit includes pharmaceutical mln vs mln scientific equipment mln vs mln horticulture mln vs mln note company said it plans one for one capitalisation reuter | 2earn
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major swiss banks raise customer time deposit rates point to three pct credit suisse | 4interest
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corrected major swiss banks raise customer time deposit rates point to pct credit suisse | 4interest
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philippine planning chief urges peso devaluation the philippines must devalue the peso if it wants its exports to remain competitive economic planning secretary solita monsod told reuters the peso dollar rate has to be undercut to make our exports more competitive monsod said an interview no question about it i m saying you cannot argue with success taiwan south korea west germany japan all those miracle economies deliberately undervalued their currencies the peso has been free floating since june it is currently at about to the u s dollar finance secretary jaime ongpin has said the government does not intend to devalue the peso and wants it to be flexible and able to continue to respond to market conditions monsod said ongpin was looking at the exchange rate from the point of view of finance if the dollar rate goes higher our debt service in terms of pesos gets higher so the financing is very difficult she said but i am looking at it in terms of the economy she said she was not trying to oppose official policy i m just saying keep it competitive i do not want it to become uncompetitive because then we are dead monsod said the ideal movement in the peso dollar rate is a movement that will reflect differences in inflation rates of the philippines versus the other country it s an arithmetic thing official figures show philippine inflation averaged pct in calendar ongpin told reporters on saturday it was expected to touch five pct this year he said the government and the international monetary fund had set the peso dollar target rate at the peso lost pct in value to slump to to the dollar when it was floated in reuter | 5money-fx
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u k clears cons gold u s purchase the u k trade department said it would not refer consolidated goldfields plc s cgld l purchase of american aggregates corp to the monopolies commission cons gold said last month that its arc america corp unit had agreed to buy the ohio based company for dlrs a share cash or mln dlrs in a deal recommended by the aggregates board reuter | 0acq
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pemex signs mln dlr japan loan for pipeline mexican state oil firm petroleos mexicanos pemex signed for a mln dlr untied loan from the export import bank of japan to finance its pacific petroleum project pemex japan representative tito ayal said no further details on the loan were immediately available ayala told an oil seminar the project due for completion in is aimed at improving distribution of oil products in the domestic market mainly along the pacific coast the project consists of a pipeline linking nueva teapa on the gulf of mexico with salina cruz on the pacific coast and construction of the second phase of the salina cruz refinery the project also includes construction of liquified petroleum gas lpg storage tanks at santa cruz additional crude oil storage at both ends of the pipeline an ammonia complex at lazaro cardenas on the pacific coast and expansion of the infrastructure of the port of salina cruz ayala said pemex will buy mln dlrs worth of foreign equipment and materials for the project he said the new pipeline will enable japan to load mexico s maya crude oil at salina cruz rather than in the gulf of mexico pemex will also have some lpg surplus available in salina cruz that may help japan diversify its supply sources of that product he added reuter | 1crude
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stc plc stcl l year to end shr profit p vs p loss div p making p vs nil turnover billion stg vs billion pretax profit mln vs mln loss tax mln vs nil operating profit mln vs mln interest less investment income mln vs mln exceptional debit mln vs mln minorities mln vs mln extraordinary credit mln vs mln debit operating profit includes international computers mln vs mln communications systems mln vs mln components and distribution mln vs mln defence mln vs mln reuter | 2earn
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cra expects to pay final dividend of cents cra ltd craa s said it expected to pay a final dividend of not less than cents a share after july making cents for the year against in the mining and smelting group earlier reported net earnings rose to mln dlrs from mln in against analysts forecasts yesterday of mln to mln cra said it was deferring consideration of a dividend until later this year to provide the benefit of dividend imputation to its shareholders after july dividends will be tax free to shareholders provided they come out of earnings on which the full pct company tax rate has been p id the company operates on a substituted tax year not the fiscal year ending june and as a result has incurred tax at the pct rate on earnings cra said in a statement consequently it has funds available for distribution with dividend imputed but is waiting to see the imputation legislation before determining the final payout it said despite the higher net earnings cra said was a poor year for the minerals industry with the notable exception of gold producers prices for major metals expressed in real u s dollars declined to the lowest levels in about years it said fluctuating exchange and interest rates added volatility and uncertainty while the revaluation of the yen is leading to substantial restructuring of japanese industry cra said world demand for metals is growing slowly inventories have steadily declined with supply and demand in better balance but overcapacity continues cra said turning to contributions to its earnings cra said bougainville copper ltd buva s contributed mln dlrs while its share of comalco ltd s cmac s net was mln net earnings from iron ore operations were mln dlrs against mln in it said lead zinc and silver mining and smelting operations incurred a net loss of mln dlrs against a mln loss in cra said coal activities resulted in a net profit of mln dlrs against mln while salt raised its contribution to mln from mln cra s share of earnings from the argyle diamond project amounted to mln dlrs against nine mln in cra said the main item in its mln dlr extraordinary loss was a mln writeoff of unrealised foreign exchange losses on borrowings as required by a new accounting standard other extraordinary items were mln dlrs provided for closures and writedown of assets and a mln increase in future tax provisions cra said cash flow continued at a high level being mln dlrs before capital expenditure against billion in the strong cash flow coupled with the proceeds of the rights issue and the use of existing cash balances enabled group debt to be reduced by nearly mln dlrs cra said it held forward contracts at year end to buy mln u s dlrs to hedge part of its foreign debt this cost mln dlrs after tax included in the net interest cost reuter | 2earn
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swiss capital exports rise in january swiss capital exports rose to billion francs in january after billion in december and a year earlier billion the swiss national bank said new bond issues accounted for billion of the total after december s billion and credits mln after mln in january before the national bank ended the distinction between notes and bonds bond issues totalled billion francs notes billion and credits mln reuter | 7trade
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china calls for better trade deal with u s china called on the united states to remove curbs on its exports to give it favourable trading status and ease restrictions on exports of high technology but the u s embassy replied that chinese figures showing years of trade deficits with the u s out of the last are inaccurate and said peking itself would have to persuade congress to change laws which limit its exports the official international business newspaper today published china s demands in a editorial to coincide with the visit of u s secretary of state george shultz it is extremely important that the u s market reduce its restrictions on chinese imports provide the needed facilities for them and businessmen from both sides help to expand chinese exports the editorial said the u s should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system of preference gsp despite easing of curbs on u s technology exports in recent years control of them is still extremely strict and influences normal trade between the two countries it added the paper also printed an article by china s commercial counsellor in its washington embassy chen shibiao who said that all kinds of difficulties and restrictions were preventing bilateral trade fulfilling its full potential he named them as u s protectionist behaviour curbs on technology transfer and out of date trade legislation the paper also printed a table showing that since bilateral trade began in china has had a deficit every year except and it shows the and deficits at billion and billion dlrs a u s embassy official said the u s did not accept peking s trade figures at all mainly because they exclude goods shipped to hong kong and then trans shipped to u s while u s figures are based on country of origin he said that if china wants to obtain gsp status it will have to lobby congress itself to persaude it to amend several laws which currently prevent peking getting such status the u s trade act of says that to qualify for gsp china must be a member of the general agreement of tariffs and trade gatt for which it applied in july and not be dominated or controlled by international communism the official said china was well aware of the laws some of which date to the anti communist early s but that there is not sufficient political will in the u s to change them china has been the subject of about a dozen cases involving anti dumping in the u s within the last two years which the u s side won he said but for the first time china signed last week an agreement which it itself initiated to voluntarily restrain exports of at least two categories of steel goods which may lead the u s side to withdraw the anti dumping case he added another diplomat said willingness to provide such voluntary export restraints would be an important issue in bilateral trade issues and in peking s application to gatt china has the potential to disrupt world markets especially in textiles other gatt countries will be nervous about china in this respect but there is a precedent for other centralled planned economies in gatt the diplomat said poland czechoslovakia hungary and romania are members of gatt but none has china s massive market potential for imports or its vast labour pool to produce cheap exports in a speech today in the northeast city of dalian u s secretary of state george shultz said his country welcomed china s interest in participating in gatt the process of chinese accession will not be accomplished overnight the gatt rules were not designed for a large economy of the chinese type shultz said china can play an important role by actively joining gatt discussions seeking to expand general trading opportunities and enhance market access for exports worldwide china can further develop its foreign trade system so as to gain the maximum benefit from its gatt participation he said the problems facing u s china trade and gatt membership are similar a pricing system which many foreign businessmen regard as arbitrary and not related to actual costs especially for exports and a de facto dual currency system in a memorandum backing its application presented to gatt last month china said it was gradually reforming its economic system and replacing mandatory instruction with guidance planning and economic levers the diplomat said that to join gatt china had much to do reuter | 7trade
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mobil plan to open peking office china daily says mobil corp mob n of the u s plans to open an office in peking to develop oil exploration opportunities in china the china daily said it quoted mobil president richard tucker currently in peking as saying he is optimistic about investment prospects in china and that peking will continue to encourage foreign private businesses to invest here it said mobil bought mln dlrs of crude oil and oil products from china in and sold it lubricant and fertiliser but gave no more details reuter | 1crude
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klm to take pct stake in air uk klm royal dutch airlines klm a said it agreed to take a pct stake in air u k ltd a subsidiary of british and commonwealth shipping plc bcom l in a transaction worth around two mln stg a klm spokesman said klm already cooperated closely with air uk which runs flights a week to amsterdam s schipol airport from nine uk cities british and commonwealth shipping said last week it held preliminary talks about a klm minority stake in air u k but gave no further details klm said it hoped the move would attract more british feeder traffic to amsterdam airport reuter | 0acq
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ultramar sells u k marketing units for mln stg ultramar plc umar l said it had reached agreement in principle to sell its wholly owned u k marketing companies to kuwait petroleum corp for around mln stg ultramar s marketing units include ultramar golden eagle ltd which in made a profit of around mln stg before financing and group administration charges a small loss was recorded for the first nine months of the sale is due to take place on april with the proceeds intended to reduce group debt in the short term but ultramar said the funds would ultimately be used for further development of its core businesses in the u k and north america reuter | 0acq
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woolworth underwoods fail to agree on bid underwoods plc said it had not been possible to agree terms on a bid to be made by woolworth holdings plc wluk l during talks the two companies had been holding exploratory discussions no spokesman for either company was immediately available to say why terms could not be agreed nor whether the possibility of a bid was now being abandoned last week underwoods shares rose p to p ahead of any announcement of the talks the announcement today brought them back down to p from last night s close at p woolworth was unchanged at p reuter | 0acq
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mobil plans to open office in peking mobil oil corp of u s plans to open an office in peking to develop oil exploration opportunities in china the china daily said it quoted mobil president richard tucker currently in peking as saying he is optimistic about investment prospects in china and that peking will continue to encourage foreign private businesses to invest here it said mobil bought mln dlrs of crude oil and oil products from china in and sold it lubricant and fertiliser but gave no more details reuter | 1crude
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unilever plc and nv combined pre tax profit billion stg vs mln | 2earn
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opec within output ceiling subroto says opec remains within its agreed output ceiling of mln barrels a day and had expected current fluctuations in the spot market of one or two dlrs indonesian energy minister subroto said he told reporters after meeting with president suharto that present weakness in the spot oil market was the result of warmer weather in the u s and europe which reduced demand for oil prices had also been forced down because refineries were using up old stock he said he denied that opec was exceeding its agreed production ceiling asked what opec s output level was now he replied below mln barrels per day he did not elaborate he said there appeared to have been some attempts to manipulate the market but if all opec members stick by the cartel s december pricing agreement it would get through present price difficulties he predicted that prices would recover again in the third and fourth quarters of he also reiterated that there was no need for an emergency opec meeting he said opec had expected to see some fluctuations in the spot price we hope the weak price will be overcome and predict the price will be better in the third and fourth quarters refiners he said appeared to have used up old stock deliberately to cause slack demand in the market and the price to fall but opec would get through this period if members stuck together reuter | 1crude
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unilever plc and nv th qtr to dec london march unilever plc share p vs p making p vs p for full year unilever nv share guilders vs guilders making guilders vs guilders unilever plc final div p making p vs p unilever nv final div guilders making guilders vs guilders combined pre tax profit mln stg vs same making billion stg vs mln the two companies proposed a five for one share split combined fourth quarter pre tax profit billion guilders vs billion making billion guilders vs billion operating profit mln stg vs mln making billion stg vs mln tax mln stg vs mln making mln vs mln tax adjustments mln stg credit vs nil making mln stg credit vs three mln debit attributable profit mln stg vs mln making mln vs mln full year turnover billion stg vs billion reuter | 2earn
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hk hotels soars on takeover speculation the price of hongkong and shanghai hotels ltd shlh hk s stock soared on speculation of a takeover battle between major shareholders the kadoorie family and the evergo industrial enterprise ltd evgh hk group stock brokers said they noted heavy buying in hk hotel shares after an announcement by evergo s china entertainment and land investment co ltd unit that it bought about pct of hk hotels from the firm s deputy chairman david liang for billion dlrs the stock rose h k dlrs to dlrs today thomas lau evergo s executive director declined comment on whether the group is seeking a further stake in hk hotels but he told reuters the group will hold the pct stake bought from liang as long term investment he said evergo was attracted by the underlying strength of hk hotels analysts said evergo may be looking for a possible redevelopment of the peninsula hotel one of asia s best known hotels and another site on hong kong island both are owned by hk hotels lai sun garment co ltd yesterday said it acquired a pct stake in hk hotels from liang for mln dlrs lau denied any link between china entertainment and lai sun on their acquisitions of the hk hotels stake it is purely coincidence he said but analysts were not so certain saying that the evergo group which has a reputation as a corporate raider may team up with lai sun garment for a takeover lau also denied any contact with the kadoorie family which analysts estimate has more than pct of hk hotels michael kadoorie is chairman of hk hotels lau said two representatives of evergo will be nominated to the hk hotels board a source close to the kadoorie family said the family has not considered any countermoves so far analysts said it would be difficult for evergo and the kadoorie family to cooperate because of different management styles evergo may want to split up the hotel management and property developments of hk hotels but that strategy may not fit the conservative kadoorie family said an analyst who asked not to be named another analyst noted the price of hk hotels had been distorted by the takeover talks because its net asset value is only worth about dlrs a share the offers by evergo and lai sun were for dlrs a share though that is well below the current trading price trading was suspended today in shares of lai sun evergo china entertainment and the group s associate chinese estates ltd chinese estates lost cents to dlrs yesterday china entertainment five to dlrs and evergo one to cents lai sun gained cents to dlrs reuter | 0acq
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bryson pays mln dlrs for cenergy corp stake bryson oil and gas plc said it paid a cash consideration of around mln dlrs for about pct of cenergy corp a u s oil and gas exploration and production company bryson said its board has been considering a number of possible investments to expand the company s interests and believes the opportunity to acquire an investment in cenergy provides a suitable extension to its existing u s interests cenergy reported a net loss of mln dlrs in the nine months to september while total stockholders equity on the same date was mln dlrs reuter | 0acq
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ashton tate tate th qtr net shr cts vs cts net mln vs revs mln vs mln avg shrs mln vs mln year shr dlrs vs cts net mln vs mln revs mln vs mln avg shrs mln vs mln note share adjusted for january two for one split reuter | 2earn
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neither side optimistic on rotterdam port issues employers and the port union fnv are to meet again this afternoon to attempt a settlement of the six week old dispute in rotterdam s general cargo sector but neither side is optimistic spokesmen for both sides told reuters little progress was made in last night s three hours of talks with both sides largely reiterating their positions there is still a very large gap between the employers and the fnv and i can t say that we expect to reach any agreement but at least we are still talking a union spokesman said employers organization chairman jacques schoufour accused the fnv of intransigence in refusing to alter its stance at all over the past two months the fnv is not serious about our discussions and i am really not optimistic about it changing its point of view at all if we find this afternoon that the fnv still refuses to accept the necessary redundancies in the general cargo sector then we will break off the talks and the redundancies may begin later this month schoufour said the series of strikes which employers say has cost them more than seven mln guilders in lost import business in the past six weeks began on january in protest at plans for redundancies from the sector s workforce starting with this year late last month social affairs minister louw de graaf said unless the dispute was settled by yesterday he would withdraw the sector s mln guilder annual labour subsidy both sides wrote to the minister yesterday setting out their cases but schoufour said he did not expect to hear from him before wednesday at the earliest reuter | 6ship
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unilever improves in most sectors during the unilever plc and nv un a group saw improved performance in almost all sectors during the anglo dutch group said in its results statement very good progress was made last year while the recent acquisition of chesebrough pond s inc cbm n was a significant addition which will greatly benefit the group in the years to come earlier unilever reported combined fourth quarter pre tax profit of mln stg level with the year earlier period making billion stg compared with mln for the full year unilever said it plans to change its depreciation policy to the more conventional practice of depreciating assets individually rather than depreciating fixed assets at average rates the new method is expected to lead to a reduction in the accumulated provision for depreciation and thereby increase the net book value of tangible asssets by about mln stg as at january unilever plc shares are up p since yesterday at p in buoyant response to the results and share split proposal though profits were not ahead of market forecasts dealers added reuter | 2earn
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burlington coat factory warehouse corp bcf net jan end shr dlrs vs dlrs net mln vs mln revs mln vs mln reuter | 2earn
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greenwood resources grrl sells company stake greenwood resources inc said it has sold its common share majority holding in new london oil ltd of london to an affiliate of guinness peat group plc of london and an affiliate of sidro sa of belgium for a total of dlrs in cash the company said it will apply the proceeds of the sale to support its line of credit and as part of a proposed debt restructuring with colorado national bancshares colc and greenwood shareholders it said it will retain a seat on the new london board reuter | 0acq
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f w woolworth co th qtr shr dlrs vs dlrs | 2earn
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heinz interested in buying guinness brewing h j heinz hnz n chairman tony o reilly would be interested in buying guinness plc guin l s brewery division if it were for sale a spokesman said the spokesman reacting to irish and british press reports said he continues to be interested were the group to offer the brewery side of guinness for sale but he has not put together a consortium nor has he been buying shares he was quoted by the irish magazine business and finance as saying he would be interested if it came on the market and that he had the support of two international banks if he decided such a purchase might be worthwhile in the magazine article he suggested that if brewing profits were calculated to be in the region of mln punts the asking price would not be higher than mln punts a multiple of ten times earnings would be the top whack for the brewing division in the current guinness situation he said this would mean an expensive exercise right on the edge but not impossible he added the deal would mean buying the dublin london nigerian and malaysian breweries because it could only be sold as an integral unit if it was going to be sold at all o reilly said reuter | 0acq
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equatorial communications equa to have losses equatorial communications co said it expects to report losses of about mln dlrs for the fourth quarter and mln dlrs for the full year on revenues of about mln dlrs for the quarter and mln dlrs for the year equatorial said the losses will include a charge of about mln dlrs from costs associated with the restructuring of its business including adjustments to reflect the market value of transponders owned and leased by equatorial and other reserves for inventory receivables and excess facilities equatorial said the fourth quarter operating results will also include restructuring costs of about dlrs in addition to the mln dlr charge equitorial also said that as of march one it is operating in technical default under its lease of transponders on the galaxy iii satellite due to its inabiliuty to maintain agreed upon financial ratios it said it is in talks with the lessors in an attempt to restructure lease obligations further equitorial said it is in default of two other oblitations in connection with the purchase or lease of transponders as a result of cross default provisions equatorial said it has signed a memorandum of understanding for contel corp ctc to purchase mln dlrs of equatorial master earth stations micro earth stations and associated equipment and loan equatorial six mln dlrs over a six month period for repayment starting in december the company said conteol under the agreement would assume a portion of equatorial s rights and obligations under the galaxy iii transponder lease with burnham leasing on the occurrence of certain events equatorial said it would grant contel an option to buy about common shares at dlrs each equatorial said its understandings with contel are subject to equatorial s ability to restructure a significant portion of its obligations and to obtain concessions from lenders and lessors in particular under its galaxy iii transponder lease it said it hopes to finalize a contel agreement by april equatorial in earned dlrs after a dlr gain from early debt retirement on revenues of mln dlrs for the first nine months of the company lost dlrs on revenues of mln dlrs compared with a dlr profit after the early retirement gain on revenues of mln dlrs reuter | 2earn
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transamerica ta to have australian sale gain transamerica corp said it will have an after tax gain of about mln u s dlrs on the sale of its occidental life insurance co of australia ltd affiliate to pratt and co financial services pty ltd of melbourne for mln australian dlrs the sale was announced earlier today in australia proceeds will be used to enhance the growth of north american operations of its transamerica occidental life subsidiary the company said reuter | 2earn
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viacom international inc gets another new national amusements bid | 0acq
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f w woolworth co z th qtr jan net shr dlrs vs dlrs net mln vs mln sales billion vs billion avg shrs mln vs mln year shr dlrs vs dlrs net mln vs mln sales billion vs billion avg shrs mln vs mln note share data restated to reflect two for one stock split in may reuter | 2earn
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u s asks japan end agriculture import controls the u s wants japan to eliminate import controls on agricultural products within three years visiting u s under secretary of state for economic affairs allen wallis told eishiro saito chairman of the federation of economic organisations keidanren a spokesman for keidanren said the spokesman quoted wallis as saying drastic measures would be needed to stave off protectionist legislation by congress wallis who is attending a sub cabinet level bilateral trade meeting made the remark yesterday in talks with saito wallis was quoted as saying the reagan administration wants japanese cooperation so the white house can ensure any u s trade bill is a moderate one rather than containing retaliatory measures or antagonising any particular country he was also quoted as saying the u s would be pleased were japan to halve restrictions on agricultural imports within five years if the country cannot cope with abolition within three the spokesman said japan currently restricts imports of agricultural products a ban on rice imports triggered recent u s complaints about japan s agricultural policy reuter | 7trade
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firstcorp fcr sees gain on condemnation firstcorp inc said it weill report an after tax gain of dlrs or cts per share primary and cts fully diluted from the proposed condemnation and acquisition of a parking deck it operates by wake county the company said if it reinvested proceeds in a similar property within months the gain on the sale would be deferred for tax purposes reuter | 2earn
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national sea products ltd th qtr net oper shr cts vs cts oper net vs revs mln vs mln year oper shr dlrs vs cts oper net vs revs mln vs mln note qtr excludes extraordinary gain of dlrs or five cts share versus extraordinary loss of dlrs or shr nil in qtr note continued year excludes extraordinary gain of dlrs or cts share versus extraordinary gain of dlrs or cts share in prior year reuter | 2earn
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national amusements again ups viacom via bid viacom international inc said national amusements inc has again raised the value of its offer for viacom s publicly held stock the company said the special committee of its board plans to meet later today to consider this offer and the one submitted march one by mcv holdings inc a spokeswoman was unable to say if the committee met as planned yesterday viacom said national amusements arsenal holdings inc subsidiary has raised the amount of cash it is offering for each viacom share by cts to dlrs while the value of the fraction of a share of exchangeable arsenal holdings preferred to be included was raised cts to dlrs national amusements already owns pct of viacom s stock reuter | 0acq
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national fsi inc nfsi th qtr loss shr loss six cts vs profit cts net loss vs profit revs vs year shr loss cts vs profit cts net loss vs profit revs mln vs mln note year figures pro forma for purchase accounting adjustments resulting from march reeacquisition of company by its original shareholders before august initial public offering reuter | 2earn
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precambrian shield resources ltd year loss shr loss dlrs vs profit cts net loss vs profit revs mln vs mln note shr and net include dlr writedown on u s operations uneconomic coal operations and other mineral properties reuter | 2earn
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grease monkey holding corp gmhc year nov shr nil vs nil net vs revs vs reuter | 2earn
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acceptance insurance holdings inc acpt year oper shr profit dlrs vs loss dlrs oper net profit vs loss revs mln vs mln avg shrs vs note net excludes realized investment gains of dlrs vs dlrs net excludes dlr tax credit reuter | 2earn
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minstar inc mnst th qtr net oper shr loss cts vs loss cts oper net loss vs loss revs mln vs mln avg shrs mln vs mln year oper shr loss eight cts vs profit cts oper net loss vs profit revs mln vs mln avg shrs mln vs mln note operating net loss excludes income from discontinued operations equal to cts in the quarter and cts in the year compared with dlrs in the quarter and dlrs in the respective periods of operating net loss also excludes extraordinary charges of cts in the quarter and cts in the year operating net profit excludes an extraordinary gain of cts reuter | 2earn
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mark resources inc year loss shr not given loss mln revs mln note prior year results not given results include accounts of pct owned precambrian shield resources ltd acquired november reuter | 2earn
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transform logic toog revises results downward transform logic corp said it has revised downward its previously reported fourth quarter and year ended october results to reflect compensation expense for employee stock options the company said resolution of this disagreement with its auditors came as a result of securities and exchange commission involvement the company will amend its option granting procedure to conform to the sec decision which will eliminate future charges it added transform said its fourth quarter profit was revised to dlrs or two cts a share from the previously reported dlrs which left the company with a fiscal loss of dlrs or two cts a share instead of the reported dlrs profit reuter | 2earn
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american stores asc sees lower year net american stores co said it expects to report earnings per share of to dlrs per share on sales of slightly over billion dlrs for the year ended january the supermarket chain earned dlrs per share on sales of billion dlrs last year the company did not elaborate reuter | 2earn
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kasler corp kasl st qtr jan net shr profit three cts vs loss seven cts net profit vs loss revs mln vs mln reuter | 2earn
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unilever has improved margins volumes in unilever plc un a and nv group reported improvements in margins and underlying sales volume growth of five pct in after stripping out the effects of falling prices disposals and currency movements unilever plc chairman michael angus said he told reporters that volumes in north america increased some pct while european consumer goods rose about pct after being flat for some years much of the disposal strategy aimed at concentrating activities on core businesses had now been completed he noted but the process of acquisitions would go on with strategic acquisitions taking place from time to time he said the company earlier reported a pct rise in pre tax profits for to billion stg from mln previously in guilder terms however profits at the pre tax level dropped three pct to billion from billion angus said the recent purchase of chesebrough pond s inc cbm n for dlrs a share was unlikely to bring any earnings dilution however it would not add much to profits with much of the company s operating profits paying for the acquisition costs finance director niall fitzgerald added that while gearing debt to equity plus debt rose to about pct at end from pct last year this was expected to drop back to about pct by end the same divergence was made in full year dividend with unilever nv s rising pct to guilders and unilever plc s increasing pct to p approximately in line with the change in attributable profit angus said the prospectus for the sale of parts of chesebrough was due to be published shortly however he said that there was no target date for completing the process he also declined to say what sort of sum unilever hoped to realise from the operation beyond noting that chesebrough had paid around billion dlrs for stauffer chemical co which operates outside unilever s core activities in the u s organic growth from the lipton foods business considerable expansion in the household products business and in margarine had been behind the overall sales increase however he noted that the u s household products business had turned in a planned loss with fourth quarter performance better than expected despite the anticipated heavy launch costs of its surf detergents reuter | 2earn
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sara lee sle to buy pct of dim sara lee corp said it agreed to buy a pct interest in paris based dim s a a subsidiary of bic s a at a cost of about mln dlrs dim s a a hosiery manufacturer had sales of about mln dlrs the investment includes the purchase of newly issued dim shares valued at about mln dlrs and a loan of about mln dlrs it said the loan is convertible into an additional dim shares it noted the proposed agreement is subject to approval by the french government it said reuter | 0acq
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china calls for better trade deal with u s china called on the united states to remove curbs on its exports to give it favourable trading status and ease restrictions on exports of high technology but the u s embassy replied that chinese figures showing years of trade deficits with the u s out of the last are inaccurate and said peking itself would have to persuade congress to change laws which limit its exports the official international business newspaper today published china s demands in a editorial to coincide with the visit of u s secretary of state george shultz it is extremely important that the u s market reduce its restrictions on chinese imports provide the needed facilities for them and businessmen from both sides help to expand chinese exports the editorial said the u s should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system of preference gsp despite easing of curbs on u s technology exports in recent years control of them is still extremely strict and influences normal trade between the two countries it added the paper also printed an article by china s commercial counsellor in its washington embassy chen shibiao who said that all kinds of difficulties and restrictions were preventing bilateral trade fulfilling its full potential he named them as u s protectionist behaviour curbs on technology transfer and out of date trade legislation reuter | 7trade
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precambrian shield takes mln dlr writedown precambrian shield resources ltd earlier reporting a large loss against year ago profit said the loss was mainly due to a dlr writedown on its u s operations uneconomic coal and other mineral properties precambrian which is pct owned by mark resources inc said it took the writedown in accordance with new canadian insititute of chartered accountants guidelines for full cost method accounting by oil and gas companies precambrian earlier reported a loss of mln dlrs compared to profit of mln dlrs in the prior year reuter | 2earn
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scott s hospitality acquires capital food scott s hospitality inc said it acquired all issued shares of capital food services ltd of ottawa terms were not disclosed scott s said capital food had sales of more than mln dlrs and will continue to operate under its present name with existing management capital food provides food services to several ottawa institutions the company said reuter | 0acq
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video display vide to sell cable tv unit video display corfp said it has reached a tentiative agreement to sell its existing cable television business for undisclosed terms and expects to report a gain on the transaction the buyer was not named the company said it will redeploy its service assets into manufacturing and distribution it said the operations being sold accounted for about five pct of revenues for the year ended february and lost money reuter | 0acq
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intek diversified corp idcc th qtr net shr three cts vs three cts net vs revs vs year shr cts vs cts net vs revs mln vs reuter | 2earn
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community bank cbsi to make acquisition community bank system inc said it has entered into a definitive agreement to acquire nichols community bank for dlrs in common stock it said subject to approval by nichols shareholders and regulatory authorities the transaction is expected to be completed later this year reuter | 0acq
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pharmacia ab phab st year sales billion crowns vs billion profit after financial items mln crowns vs mln the results include a once off writedown of mln crowns for intangible assets mainly the know how paid for in the takeover of a number of high tech companies by the group pharmacia said earnings per share after real tax including the writedown crowns vs crowns earnings per share after real tax not including the writedown crowns vs earnings per american depository receipt adr according to u s accounting principles after real tax including the writedown crowns vs crowns earnings per adr according to u s accounting principles after real tax without the writedown crowns vs one adr represents pct of one b free share in pharmacia the board proposed a dividend of crowns vs reuter | 2earn
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pharmacia forecasts higher earnings pharmacia ab phab st forecast earnings after financial items of one billion crowns in vs mln last year on condition that exchange rates remained at their present parities sales would in such circumstances go up to six billion crowns from billion in it said a weakening dollar was mainly responsible for a five pct negative impact on sales during which the company blamed on currency movements last year s results were also badly hit by a once off writedown of mln crowns for intangible assets the company said mainly this represented the premium the group had paid for the know how of various high tech firms it had taken over the accounts also showed a financial deficit of billion crowns vs a deficit of mln which was covered partly by drawing down company liquidity to mln vs one billion and partly by increasing borrowing to billion vs mln pharmacia said the financial deficit was caused by it having used more funds than generated by group operations mainly because of the billion it paid in cash for shares in lkb produkter ab and the assets of intermedics intraocular inc reuter | 2earn
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mclean industries mii unit transers service mclean industries inc said its shipping subsidiary united states lines inc reached an agreement in principle to transfer its south american service to american transport lines inc a subsidiary of crowley maritime corp under the terms of the agreement united states lines will lease five vessels to american transport for months with an option to extend the period up to years the company said in return u s lines will receive a fixed payment and a percentage of revenues for at least three years and possibly as long as american transport utilizes its vessels and conducts trade in south america the company said the companies will consummate the transactions as soon as the required approvals are obtained mclean said reuter | 6ship
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first federal savings ffkz year net shr cts vs one dlr net vs assets mln vs mln deposits mln vs mln loans mln vs mln qtly div six cts vs six cts prior qtr pay april record march note net includes charges from accounting changes from one time expenses associated with a proxy contest and an increase in loan reserves first federal savings and loan association of kalamazoo is full name of company reuter | 2earn
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toll brothers inc tol st qtr jan net shr cts vs cts net vs revs mln vs mln note all amts reflect for stock split of company s common in form of pct stock dividend paid feb reuter | 2earn
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pillsbury co psy votes quarterly dividend qtly div cts vs cts prior qtr pay may record may reuter | 2earn
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berkshire gas co bgas pays regular qtlry div qtrly div cts vs cts pay april record march reuter | 2earn
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charming shoppes inc chrs th qtr jan net shr cts vs cts net mln vs mln revs mln vs mln year shr cts vs cts net mln vs mln revs mln vs mln reuter | 2earn
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pansophic systems pns splits stock for pansophic systems inc said it will split its stock two for one effective april two to shareholders of record march it also said it will pay a six cts per share dividend on the pre split shares a regular quarterly dividend on april two to shareholders of record march reuter | 2earn
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calmar clmi seeks to be acquired by kebo ab calmar inc said keboo ab of sweden which now owns about pct of calmark has approved the acquisition of remaining calmar shares at dlrs in cash at the request of the calmar board calmar said a special meeting of its board will be held march nine to form a special committee of directors not affiliated with kebo to evaluate the transaction kebo is in turn pct owned by investment ab beijar of sweden reuter | 0acq
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italy s bnl negotiating purchase of german bank italy s state owned banca nazionale del lavoro bnl said it is negotiating to buy a west german bank as part of its foreign expansion policy bnl president nerio nesi told a news conference the italian bank was currently involved in talks but declined to name the german institution he said the takeover move could be seen as bnl s reply to deutsche bank ag dbkg f which entered the italian market in december with the purchase of bankamerica bacn subsidiary banca d america e d italia nesi said bnl had also approved a mln dlr credit line to the soviet union aimed at enabling soviet companies to pay for italian imports he gave no further details bnl officials said the group had also decided to increase its activities in the soviet union by opening a representative office in moscow this month through its subsidiary sogecred which specialises in italian soviet trade reuter | 0acq
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fed expected to add temporary reserves the federal reserve is expected to enter the u s government securities market to add temporary reserves economists said they expect it to supply the reserves indirectly by arranging to two billion dlrs of customer repurchase agreements the fed may add the reserves directly instead via system repurchases federal funds which averaged pct yesterday opened at pct and stayed there in early trading analysts said the rate is under upward pressure partly from settlement of billion dlrs of five year treasury notes reuter | 4interest
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lsb industries inc lsb th qtr net shr profit five cts vs loss dlrs net profit vs loss mln revs mln vs mln avg shrs vs mths shr profit cts vs loss dlrs net profit vs loss mln revs mln vs mln avg shrs vs note primary earnings per share are based on the weighted average number of common and dilutive common equivalent shares outstanding during each period after accounting for preferred stock dividends the qtr and year includes a provision for restructuring costs related to the sale of its energy business and parts of its bearing business the qtr and year includes charges of and respectively for restructuring costs and operating losses which were charged against the previously provided accruals for restructuring costs the qtr and year includes deferred income taxes of and respectively year net includes operations of friedrich climate master inc which the company acquired in august for the full period while the comparable period for includes only operations from august to dec third qtr includes extraodinary tax gain of from early extinquishment of certain drafts payable reuter | 2earn
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gulf resources and chemical corp gre th qtr oper shr profit cts vs loss cts oper net profit vs revs mln vs mln year oper shr profit cts vs loss cts oper net profit vs loss revs mln vs mln notes operating net excludes loss dlrs or cts a share vs loss dlrs or dlrs a share in quarter and loss dlrs or cts a share vs profit dlrs or dlrs a share from discontinued operations loss from discontinued operations includes mln dlrs charge equal to cts a share to provide for additional liabilities resulting from the closure of lead zinc and silver mining smelting and refining business year operating net includes pre tax gain of mln dlrs equal to cts a share from pension plan termination and gain of mln dlrs or cts a share from reduction in deferred taxes effective jan company changed oil and gas accounting to successful efforts from full cost increasing year net mln dlrs or cts a share and increasing loss mln dlrs or cts a share the cumulative effect of the change was to decrease retained earnings at dec by mln dlrs reuter | 2earn
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pansophic systems inc pns rd qtr jan net shr cts vs cts net vs revs mln vs mln nine mths shr dlrs vs dlrs net mln vs mln revs mln vs mln reuter | 2earn
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former treasury official urges currency reforms former treasury official c fred bergsten said a new exchange rate system is needed to replace the fixed and flexible exchange rate systems which he said had not worked i prefer a move to target zones in which the major countries would determine ranges of pct within which they would pledge to hold their exchange rates by direct intervention and as necessary by changes in monetary and other policies bergsten now the director of the institute for international economics said in a statement to a house banking subcommittee the substantial correction of the exchange rate that has occurred since early is enormously welcome and should produce a sizeable reduction in the u s trade deficit this year and next but the imbalance will not fall much below billion dlrs on present policies so much more is needed he said reuter | 5money-fx
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knutson mortgage corp knmc sets quarterly qtly div cts vs cts prior pay april record march reuter | 2earn
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ford motor co of canada ltd th qtr shr dlrs vs cts | 2earn
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ausimont compo nv aus th qtr net shr cts vs cts net mln vs sales mln vs mln avg shrs mln vs mln year shr dlrs vs dlrs net mln vs mln sales mln vs mln avg shrs mln vs mln note translated at italian lire to dollar reuter | 2earn
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norton nrt to sell south african operations norton co said it has agreed to sell its remaining south african business norton co pty ltd to global mining and industrial corp of south africa for undisclosed terms the company said the unit accounts for less than two pct of norton revenues and is being sold because growing societal pressures in the united states and the unsettled situation in south africa had required a disproportionate amount of management tiome to oversee norton said the unit is profitable norton said it will provide the south afrcian unit with future technical support and products makde under that agreement will continue to be marketed under the norton trademark reuter | 0acq
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home federal of the rockies hrok th qtr loss shr loss dlrs vs profit cts net loss vs profit year shr loss dlrs vs profit cts net loss vs profit note home federal savings and loan association of the rockies net includes tax credits of dlrs in quarter and dlrs in year net includes pretax loan loss provisions of dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter | 2earn
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saatchi and saatchi buys cleveland consulting advertising agents saatchi and saatchi co plc sachy said it was buying cleveland consulting associates inc for an initial consideration of mln dlrs additional payments may be made annually through the year ending march to bring the total consideration up to pct of cleveland s average post tax profits in the last two years of the period the purchase of cleveland is a further step in saatchi and saatchi s fast growing consulting industry the company said it said its consulting operations now provide a platform for major future expansion for the months ended march cleveland had dlrs in pretax profits and forecasts one mln for at the saatchi and saatchi annual meeting today the company reported a particularly strong start to the current year with profits sharply higher than the same period last year saatchi and saatchi shares rose one pence on the cleveland announcement to p after yesterday s p close reuter | 0acq
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unilever s un chesebrough offers to sell bass chesebrough pond s inc recently acquired by a unit of unilever n v said it is offering to sell its bass shoe division as a result of an ongoing evaluation of the long term direction of its businesses the diversified maker of health and beauty aids said it acquired falmouth maine based g h bass and co in when the company reported annual sales of mln dlrs bass is known for its high quality casual shoes chesebrough said bass s sales exceeded mln dlrs reuter | 0acq
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continental gic sees net up from tax law continental corp said the fresh start provision of the tax reform act of may add to to earnings per share the insurance holding company had net earnings of mln dlrs or or per share in john loynes continental chief financial officer said the fresh start provision allowed the company to discount opening tax reserves to january which released deferred taxes into earnings loynes said the provision s potential benefit would decline gradually over the next four years during which time continental will pay mln to mln dlrs more in taxes loynes added however the higher taxes are not expecetd to have a significant impact on earnings reuter | 2earn
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ford motor co of canada ltd fc th qtr net shr dlrs vs cts net mln vs mln revs billion vs billion year shr dlrs vs dlrs net mln vs mln revs billion vs billion note pct owned by ford motor co f reuter | 2earn
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royal bank of canada st qtr shr cts vs dlrs | 2earn
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anitec image technology corp antc nd qtr net shr cts vs cts net vs sales mln vs mln avg shrs mln vs mln st half shr cts vs cts net vs sales mln vs mln avg shrs mln vs mln note share adjusted for three for two october stock split reuter | 2earn
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dasa corp dasa year net shr profit three cts vs loss cts net profit vs loss revs mln vs reuter | 2earn
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group trims material sciences msc stake an investor group led by central national gottesman inc a new york investment firm and its executive vice president edgar wachenheim said they cut their stake in material sciences corp to less than five pct in a filing with the securities and exchange commission the group said it sold material sciences common shares between feb and at prices ranging from to dlrs a share leaving it with shares or pct as long as the group s stake remains below five pct it is not required to disclose further dealings in material sciences common stock reuter | 0acq
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fed sets billion dlr customer repurchase fed says | 4interest
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adc telecommunications inc adct st qtr net periods ended jan shr cts vs cts net vs sales mln vs mln backlog mln vs mln reuter | 2earn
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tylan corp tyln to sell furnace product line tylan corp aid it has retained the investment banking firm kahn and harris to sell its furnace product line the company said it has already been contacted by several potential buyers in tylan s furnace product shipments in the u s represented mln dlrs of the company s total net sales of mln dlrs reuter | 0acq
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royal bank of canada st qtr jan net shr basic cts vs dlrs shr diluted cts vs dlrs net vs avg shrs mln vs mln loans billion vs billion deposits billion vs billion assets billion vs billion reuter | 2earn
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fed adds reserves via customer repurchases the federal reserve entered the u s government securities market to arrange billion dlrs of customer repurchase agreements a fed spokesman said dealers said federal funds were trading at pct when the fed began its temporary and indirect supply of reserves to the banking system reuter | 4interest
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supradur cos inc supd year net oper shr dlrs vs cts oper net vs sales mln vs mln note net excludes discontinued operations gain dlrs vs loss dlrs reuter | 2earn
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wallace computer services inc wcs nd qtr net shr cts vs cts net vs sales mln vs mln six mths shr dlrs vs dlrs net vs sales mln vs mln note periods end january and respectively reuter | 2earn
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american vanguard corp amgd year net shr cts vs cts net vs sales mln vs mln note th qtr data not available reuter | 2earn
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north american biologicals inc nbio th qtr oper shr one ct vs three cts oper net vs revs mln vs avg shrs mln vs mln year oper shr six cts vs cts oper net vs revs mln vs mln avg shrs mln vs note net excludes tax credits of dlrs vs dlrs in quarter and dlrs vs dlrs in year reuter | 2earn
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