date timestamp[ns]date 1987-02-26 15:01:01 1987-10-20 22:53:17 | topics listlengths 0 16 | places listlengths 0 23 | people listlengths 0 18 | organizations listlengths 0 24 | exchanges listlengths 0 3 | title stringlengths 0 59 | text stringlengths 50 2k | keyword stringclasses 7 values | domain stringclasses 23 values | type stringclasses 6 values | quality stringclasses 3 values | geographic_information dict | identities listlengths 0 8 | title_embedding listlengths 768 768 | text_embedding listlengths 768 768 |
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1987-06-18T14:12:11.990000 | [
"acq"
] | [
"usa"
] | [
"clinton",
"f.-daniel-ryan"
] | [
"leader-development-corp",
"clinton-american-corp-and-two"
] | [] | Leader development merger approved | Leader development corp said
shareholders at the annual meeting approved the acquisition of
privately-held clinton american corp and two related
partnerships for 3,450,000 common shares, with the transaction
to be accounted for as a pooling of interests.
the company said clinton president f. daniel ryan will
become president of leader.
reuter | payment-notices | news | news | medium | {
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1987-06-18T14:12:34.840000 | [
"crude",
"nat-gas"
] | [
"usa"
] | [
"cheyenne"
] | [
"cheyenne-resources-inc"
] | [] | Cheyenne buys interests in properties | Cheyenne resources inc said it
purchased interests in four producing oil and gas properties
for 2,240,000 shares of the company's restricted stock.
the largest interest was 25 pct of an oil and gas well in
weld county, colo, the company said. cheyenne said it had five
pct or less interest in the three other properties.
cheyenne said it should realized 10,000 dlrs net income
monthly at the properties' current production levels.
reuter | payment-notices | business-and-industrial | news | medium | {
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1987-06-18T14:13:03.040000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | General signal corp sets dividend | Qtly div 45 cts vs 45 cts prior
pay oct 1
record sept 4
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T14:13:37.540000 | [
"acq"
] | [
"usa"
] | [] | [
"chicago-heater-co-inc",
"crane"
] | [] | Crane acquires assets of marley unit | Crane co said it acquired certain
assets of chicago heater co inc, a wholly owned subsidiary of
the .
the terms of the transaction were not disclosed.
chicago heater will be intergrated with crane's cochrane
environment systems division, the company said.
reuter | financial-markets | news | news | low | {
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1987-06-18T14:14:34.470000 | [
"grain",
"wheat"
] | [
"poland",
"west-germany",
"uk",
"south-korea"
] | [] | [
"the-european-community",
"ec"
] | [] | Ec increases special feed wheat tenders - trade | The european community (ec) has increased
the size of two special export tenders for british and west
german feed wheat held in intervention stores and included
south korea as an acceptable destination, traders said.
the tender was originally for 120,000 tonnes of british and
120,000 tonnes of west german feed wheat for shipment only to
poland.
but now both tranches have been increased by 50,000 tonnes
to 170,000 tonnes with south korea added as a possible
destination. both tenders are open from june 24.
reuter | business-news | business-and-industrial | news | medium | {
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1987-06-18T14:15:26.110000 | [] | [
"cyprus"
] | [] | [
"ioannou",
"reuters",
"york",
"york-international",
"the-supreme-court-of-cyprus"
] | [] | Cyprus revokes offshore company licence | The supreme court of cyprus has rejected
a plea by an offshore securities trading company against a
central bank decision to revoke its licence.
central bank officer eleftherios ioannou told reuters that
the court had dismissed the appeal by york international
(cyprus) ltd, registered as an offshore company last october.
the bank in february withdrew york's licence and froze its
bank account while it investigated sales of some eight mln dlrs
worth of securites by telephone to 3,000 small investors
abroad.
reuter | industry-news | finance | news | medium | {
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1987-06-18T14:15:39.050000 | [] | [
"usa",
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] | [
"reuben-mark"
] | [
"colgate-palmolive",
"colgate-palmolive-co",
"the-securities-and-exchange-commission"
] | [] | Colgate-palmolive plans to file debt | Colgate-palmolive co said it plans to
file with the securities and exchange commission a shelf
registration covering up to 300 mln dlrs of unsecured debt
securities.
reuben mark, chairman and president of the company, told
this to a meeting of the new york society of security analysts,
colgate-palmolive said in a release.
proceeds will be used for general corporate purposes.
reuter | payment-notices | news | news | low | {
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1987-06-18T14:15:56.300000 | [
"fuel"
] | [
"tanzania"
] | [
"cleopa-msuya"
] | [
"imf",
"the-international-monetary-fund"
] | [] | Tanzania raises fuel prices, taxes in budget | The tanzanian government, in its
second annual budget since embarking on an economic recovery
program inspired by the international monetary fund, announced
increases in fuel prices and sales tax and higher levies on
government services.
finance minister cleopa msuya said regular petrol would go
up 52 pct, with similar increases in the cost of premium and
kerosene. diesel would rise by 75 pct.
msuya said the government expected to spend 77.33 billion
shillings in the financial year 1987/8, 39 pct more than this
year's estimate. revenue would provide 48.84 billion shillings,
leaving a deficit of 28.49 billion to be financed through
domestic and foreign loans.
reuter | earnings-reports | law-and-government | news | medium | {
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1987-06-18T14:18:36.870000 | [] | [
"usa",
"calif.",
"the-el-nido",
"el-nido"
] | [
"reuter"
] | [
"pacific-gas-and-electric-co",
"general-electric",
"ge",
"otehr"
] | [] | Ge signs contract on small power plant | General electric said it
signed a 21 mln contract to build a 12.5 megawatt power plant,
fueled by agricultural waste, for el nido biomass power plant
associates.
ge said pacific gas and electric co will purchase the net
electric output of the el nido, calif. plant, which is
scheduled for completion in mid-1989.
ge said the fuel system will be capable of firing up to six
different types of agricultural waste, and will primarily burn
almond prunings, cotton stalks and rice straw, as well as other
well as otehr alternate agricultural waste.
reuter | financial-markets | news | news | medium | {
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"city": "City of Schenectady",
"city_district": null,
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1987-06-18T14:19:11.500000 | [
"interest"
] | [
"canada"
] | [] | [
"bank-of-canada",
"treasury"
] | [] | Canada bank rate rises to 8.59 pct | Canada's bank rate rose marginally to
8.59 pct from 8.58 pct last week, bank of canada said.
the bank rate is set one-quarter percentage point above the
average yield on the weekly issue of 91-day treasury bills.
this week's yield was 8.34 pct, compared with the previous
week's 8.33 pct.
tenders were accepted for 2.20 billion dlrs of 91-day bills
at an average price of 97.963 dlrs against 97.965 dlrs last
week.
the 1.20 billion dlrs of 182-day bills were priced at an
average 95.852 dlrs against 95.779 dlrs last week, to yield an
average 8.68 pct against 8.84 pct last week.
the 500 mln dlrs of 364-day bills were priced at an average
91.712 dlrs against 91.529 dlrs last week, to yield an average
9.06 pct against 9.28 pct last week.
tenders will be received next week for 2.20 billion dlrs of
91-day bills, 1.20 billion dlrs of 182-day bills and 500 mln
dlrs of 364-day bills.
reuter | industry-news | finance | news | medium | {
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1987-06-18T14:19:32.650000 | [] | [
"usa",
"n.y."
] | [] | [
"barclays-plc"
] | [] | North american gets financing | North american biologicals inc said it has
received a 10 mln dlr credit facility from manufacturers and
traders trust co of buffalo, n.y.
it said the new credit would replace an existing 4.4 mln
dlr line with barclays plc , and due to more favorable
interest rates, borrowing costs should be significantly
reduced.
the company said half of the credit is designated for use
in acquisitions. it said it expects to conclude an
acquisition, possibly outside its plasma and serum field, by
year-end.
reuter | financial-markets | news | news | medium | {
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} | [
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] | [
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1987-06-18T14:19:43.680000 | [
"acq"
] | [
"houma",
"fort-worth",
"longview",
"odessa",
"texas",
"usa",
"alvin",
"harvey,-la.",
"lafayette",
"okla",
"cleburne"
] | [
"moore"
] | [
"moore",
"john-wood-group-plc",
"pengo-industries-inc",
"pengo-international-inc-subsidiary"
] | [] | Pengo to sell some wireline operations | Pengo industries inc said it
has agreed to sell its wireline products manufacturing division
in fort worth, texas, wireline services division operations in
several locations and pengo international inc subsidiary to
john wood group plc for undisclosed terms.
the company said the wireline services operations being
sold are in lafayette, houma and harvey, la., alvin, odessa and
longview, texas, and moore, okla.
pengo said its kuykenball slickline operation in moore and
surplus wireline equipment operations in fort worth and
cleburne, texas, will be sold separately.
reuter | financial-markets | news | news | medium | {
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} | [] | [
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1987-06-18T14:21:47.260000 | [
"grain",
"barley",
"wheat"
] | [
"france",
"spain"
] | [] | [
"non-ec",
"ec"
] | [] | Ec rejects licences for spanish barley | The ec commission cereals management
committee rejected all bids for licences to export free market
spanish barley to non-ec countries, trade sources said.
the licence requests were for 35,000 tonnes at between 143
and 145 european currency units (ecus), they said.
this tender was part of a special tender for 500,000 tonnes
of spanish barley.
the sources said there had been no bids for licences for
free market soft wheat and non-spanish barley exports to non-ec
countries.
reuter | business-news | food-and-drink | news | medium | {
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} | [
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"non-spanish"
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1987-06-18T14:25:14.490000 | [] | [
"usa"
] | [
"alan-greenspan's",
"volcker",
"william-proxmire",
"greenspan"
] | [
"senate",
"volcker",
"the-white-house",
"paul-volcker"
] | [] | Proxmire says no date set for greenspan hearing | Senate banking committee chairman
william proxmire, d-wis, said no date had been set for alan
greenspan's confirmation hearing as federal reserve chairman
because the white house had not formally sent his nomination to
the senate.
proxmire said in an interview that as soon as the white
house completed its clearence procedures and sent greenspan's
name to the senate, he would schedule a hearing on the
replacement for paul volcker. the committee and the full senate
must confirm greenspan.
volcker's term expires in august.
reuter | policy-news | news | news | medium | {
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} | [] | [
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1987-06-18T14:26:14.820000 | [
"acq"
] | [
"usa",
"pennsylvania"
] | [] | [] | [] | Magic years to acquire three centers | Magic years child care and
learning centers inc said it signed a letter of intent to
acquire three profitable day care centers in south central
pennsylvania for a total price of 350,000 dlrs.
the three privately owned centers had aggregate revenues of
474,000 dlrs in 1986, with profits of six thousand dlrs, the
company said.
the transaction is scheduled to close in early july, the
company said.
reuter | financial-markets | news | news | medium | {
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1987-06-18T14:27:09.250000 | [
"gnp",
"income",
"housing"
] | [
"usa",
"the-united-states",
"u.s."
] | [
"van-dyke",
"daniel-van-dyke"
] | [
"the-bank-of-america",
"bank-of-america"
] | [] | Bank of america sees slow u.s. consumer spending | A trade-led boom in the u.s. is
unlikely this year or next because growth in net exports will
merely offset a dramatic slowdown in consumer spending and
other sectors of the economy, bank of america said in its
latest economic report.
although net exports will add 0.7 pct to gnp this year,
after reducing it by 1.2 pct in 1986, consumer spending will
contribute 1.4 pct less to gnp than it did last year.
as a result, gnp this year is likely to expand a modest 2.5
pct, the same rate as last year, according to daniel van dyke,
the bank of america economist who wrote the report.
"growth in consumer spending in the united states will drop
dramatically this year because the jump in inflation will cause
a falloff in the growth of disposable income," van dyke said.
growth in u.s. consumer spending is likely to slow to 1.8
pct this year from 4.1 pct in 1986, he predicted.
the report was released before the commerce department
reported today that personal income rose just 0.2 pct in may,
after increasing 0.4 pct in april, and that personal
consumption expenditures had risen just 0.1 pct, compared with
a 0.6 pct increase the month before.
the rising cost of energy and imports is likely to boost
consumer prices by an average of 3.7 pct this year, up from 1.9
pct in 1986, bank of america forecast.
this rise in inflation will reduce real disposable income
growth to only 1.3 pct in 1987 from 2.9 pct in 1986.
as a result, van dyke calculated that the purchasing power
of an average family of four will increase by a modest 540 dlrs
this year compared to a surge of 1,210 dlrs during 1986.
the slowdown in income growth is likely to cause housing
starts to drop by 4.2 pct this year and a further six pct in
1988 to an annual rate of 1.63 mln units.
"for the first time in several years, a recession in 1988
or 1989 is more than a remote possibility," van dyke said.
currently, u.s. growth is fragile and depends heavily on an
improvement in trade. | earnings-reports | news | news | medium | {
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1987-06-18T14:27:37.780000 | [] | [
"usa"
] | [] | [
"hadron-inc",
"martin-marietta-corp",
"the-u.s.-navy's"
] | [] | Hadron gets martin marietta pact | Hadron inc said it has received a
two mln dlr two-year contract from martin marietta corp for
information and logistical support services to be provided for
the u.s. navy's electronic warfare programs.
reuter | financial-markets | business-and-industrial | news | low | {
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1987-06-18T14:28:52.310000 | [] | [
"usa",
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] | [] | [
"everex-systems-inc",
"shearson-lehman-brothers-inc",
"goldman-sachs",
"the-securities-and-exchange-commission"
] | [] | Everex systems files initial public offer | Everex systems inc said it has
filed with the securities and exchange commission to make an
initial public offering of 5,950,000 shares of its common
stock.
of the shares to be sold, 4,950,000 wil be offered in the
u.s., of which three mln will be issued and sold by the company
and the balance will be sold by certain shareholders.
in addition, one mln shares will be sold outside the u.s.
an underwriting group co-managed by goldman sachs and co
and shearson lehman brothers inc will offer the shares.
reuter | payment-notices | finance | news | medium | {
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1987-06-18T14:29:56.850000 | [] | [
"usa",
"portugal"
] | [] | [] | [] | World bank loans portugal 50 mln dlrs | World bank said it has loaned
portugal 50 mln dlrs to help improve its highway system.
the bank loan is part of a 400.4 mln dlr, three-year
government financed project to rehabilitate or improve about
3410 miles of highway, the bank said.
it also said the project hopes to increase road safety by
improving signs, aiding enforcement of axle-load legislation,
and adding patrol cars and communications equipment.
the loan is for 15 years, including three years of grace,
at the standard variable interest rate, currently 7.92 pct, the
bank said.
reuter | industry-news | finance | news | medium | {
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1987-06-18T14:30:29.060000 | [] | [
"canada",
"ussr"
] | [
"phylipp-popov",
"harold-bjarnason"
] | [
"the-supreme-soviet.",
"vsevolod",
"the-soviet-agriculture-ministry",
"the-winnipeg-commodity-exchange",
"agriculture-canada"
] | [] | Soviet agriculture minister in winnipeg visit | Vsevolod murakhovsky, head of the
soviet agriculture ministry, observed trading this morning at
the winnipeg commodity exchange, an exchange spokesman said.
murakhovsky led a delegation of 17 soviet visitors to the
exchange as part of a current cross-canada tour. the party
included phylipp popov, a member of the supreme soviet.
murakhovsky is first deputy chairman of the council of
ministers of the ussr and chairman of the gosagroprom or
ministry of agriculture.
the delegation was accompanied by harold bjarnason,
assistant deputy minister, agriculture canada.
reuter | business-news | finance | news | medium | {
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} | [
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1987-06-18T14:30:37.890000 | [] | [
"usa"
] | [
"missle"
] | [
"opto",
"the-u.s.-army",
"opto-mechanik-inc"
] | [] | Opto mechanik gets 7.2 mln in contracts | Opto mechanik inc, a designer
and manufacturer of military optical and electro-optical
systems, said it received 7.2 mln in contracts from domestic
and foreign customers.
opto mechanik said the series of contracts included a 3.8
mln dlr contract from the u.s. army missle command to produce
the sight used to guide the tow anti-tank missle.
reuter | financial-markets | business-and-industrial | news | low | {
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} | [] | [
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1987-06-18T14:34:45.580000 | [
"nat-gas"
] | [
"usa",
"new-york",
"brooklyn"
] | [
"curt-launer"
] | [
"texas-eastern-pipelines",
"transco-energy-co's",
"transco",
"dean-witter-reynolds",
"donaldson-lufkin-jenrette",
"brooklyn-union"
] | [] | Brooklyn union seen hurt by pipeline closure | Brooklyn union gas co, a new york gas
utility, will see its gas costs up sharply as a result of
transco energy co's decision to close its pipelines to
transport spot gas sales, energy industry analysts said.
brooklyn union, the fourth largest gas utility in the
united states, purchased 36 pct of its supplies on the spot, or
non-contract, market in 1986, and the proportion of spot
supplies was estimated much higher in the five months of 1987,
analysts said.
texas eastern pipelines , the other competing
pipeline, to deliver spot gas from producing areas in the south
closed its gate station for summer, and brooklyn union has
relied entirely on transco for spot supplies.
in the month of may, brooklyn union paid about two dlrs
per mln british thermal unit for spot gas, while contract gas
costs four to five dlrs per mln btu, industry sources said.
transco announced yesterday it would no longer provide open
access to transport spot natural gas to its customers for fear
of accumulating more take-or-pay liabilities.
take-or-pay contracts oblige pipelines to pay producers for
gas even if delivery is not taken by its customers.
brooklyn union will continue receiving a small amount of
supplies from minor fields under a grandfather clause, a
brooklyn union official said.
foster corwith, gas analyst with dean witter reynolds, said
most of the rising cost to booklyn union will be passed through
to rate payers.
while net effect on the company will not be known for
several months because of the time lag in deferred earnings,
end-users, especially residential and commercial customers,
will end up paying more for gas, he said.
because the closure takes place in summer months when gas
demand is at seasonal low, the impact on cash flow would be
small, curt launer, natural gas analyst with donaldson lufkin
jenrette, said.
if the situation persists into winter heating season, high
cost gas could cut in the company's profits, he said.
gas utili | business-news | business-and-industrial | news | medium | {
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1987-06-18T14:35:40.380000 | [] | [
"usa"
] | [] | [
"ohio-edison's",
"ohio-edison-co's",
"ohio-public-utilities-commission",
"ohio-edison-finance",
"moody's",
"perry-unit"
] | [] | Ohio edison upgraded by moody's | Moody's investors service inc said it
upgraded ohio edison co's 2.7 billion dlrs of debt securities.
raised to baa-2 from baa-3 were the utility's first
mortgage bonds, preferred stock and secured pollution control
issues, and the guaranteed euronotes of ohio edison finance nv.
moody's upgraded ohio edison's unsecured issues and preference
stock to baa-3 from ba-1.
the likely approval of a 152 mln dlr, or 10 pct, rate hike
by ohio public utilities commission significantly reduces a key
component of financial risk. it would be implemented on perry
unit one's expected fall in-service date, moody's said.
reuter | payment-notices | finance | news | low | {
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1987-06-18T14:35:49.590000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | Bic corp raises quarterly | Qtly div 18 cts vs 15 cts prior
pay july 30
record july 10
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T14:36:29.330000 | [
"alum"
] | [
"usa",
"troutdale"
] | [] | [
"reynolds"
] | [] | Reynolds metals to restart idle potline | Reynolds metals co said it plans
to restart the last idle potuction line at its troutdale, ore.,
primary aluminum plant.
with the restart of this 22,700-metric-tonne-per-year line,
reynolds said, it will be operating at 100 pct of its
consolidated primary aluminum capacity of 695,000 tonnes per
year.
reynolds said work will commence on the potline restart in
the near future and it is expected that actual metal production
will begin on september one.
the company said the start up was necessitated by
continuing strong demand for aluminum and dwindling worldwide
inventories, and that the metal is needed to supply reynolds'
various fabricating businesses.
reuter | financial-markets | business-and-industrial | news | medium | {
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1987-06-18T14:36:38.120000 | [
"acq"
] | [
"usa",
"memphis"
] | [] | [
"cbc,-union",
"cookeville",
"cbc",
"union-planters-corp",
"cbc-with-union"
] | [] | Cbc bancorp to be acquired by union planters | said it will
be acquired by the memphis-based union planters corp
in a merger agreement.
details were not disclosed.
cbc, which is the holding company which owns cookeville's
citizens bank, said it has signed an agreement which would
merge cbc with union, which has 2.2 billion dlrs in assets.
according to cbc, union reported shareholders equity of
nearly 190 mln dlrs for the period ending march 31.
cbc said the merger will not affect citizens banks' name,
management, board of directors or employees.
reuter | payment-notices | news | news | medium | {
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1987-06-18T14:37:00.410000 | [
"acq"
] | [
"usa"
] | [] | [
"us-west-inc",
"bell-atlantic-corp",
"gte-corp",
"nynex-corp",
"tie/communications-inc"
] | [] | Tie/communications renews agreements | Tie/communications inc said it
has renewed agreements to sell its gte corp , bell
atlantic corp , nynex corp and us west inc for
two years.
the company is providing small to mid-siezed key telephone
systems to gte and key systems, hybrids and data star pabx
systems to the others.
reuter | financial-markets | internet-and-telecom | news | medium | {
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1987-06-18T14:39:00.700000 | [] | [
"usa"
] | [
"maccallum.",
"hornick",
"richard-hornick",
"alexanders-laing",
"tina-rizopuolos",
"david-maccallum"
] | [
"glaxo-holdings-plc",
"university-of-toronto",
"smithkline-beckman",
"new-england-journal",
"glaxo",
"the-new-england-journal-article",
"the-university-of-rochester-school-of-medicine"
] | [] | Glaxo stock off on ulcer report | Shares of glaxo holdings plc fell
following a report in today's new england journal of medicine
that antibiotics may be able to treat ulcers, threatening
glaxo's billion dlr antiulcer drug zantac, analysts said.
glaxo's was trading at 27-7/8, off 1/2, on volume of
1,786,800 shares. shares of smithkline beckman , maker of
the popular anti-ulcer drug tagamet, also fell 7/8 to 60-1/4.
"anything that raises the possiblity of an entirely new
therapy for ulcers would attack the core of glaxo's worldwide
business, which is zantac," said david maccallum, an analyst
who follows glaxo for hambrecht and quist.
zantac is the world's most prescribed drug with annual
sales of over one billion dollars, accounting for almost 75 pct
of glaxo's earnings, said maccallum.
"if there is any perception that zantac is not the therapy
of choice for ulcers, glaxo's sales and profits could decline,"
said tina rizopuolos, an analyst with alexanders laing and
or'kshnk.
rizopuolos said the new england journal article, led by a
university of toronto researcher, concludes from a study of 71
children with gastric disease that bacteria could cause
gastritis and ulcers.
in an editorial in the same issue of the medical journal,
richard hornick of the university of rochester school of
medicine, reviewed studies using antibiotics to treat ulcers.
rizopuolos said hornick concludes that the bacteria ulcer
relationship is "exciting and intriguing," but further studies
are needed to show a direct causal effect.
ulcers happen when the stomach's protective lining erodes
and is exposed to underlying inflamed tissue, but it is unknown
what actually causes the process.
it is known that stomach acids exacerbate ulcers and therefore
antacids were commonly used to alleviate ulcers before tagamet
and zantac came along. both of these drugs prevent the release
of the hormone histamine in the stomach, which triggers acid
secretion.
"i don't think people should run out and se | payment-notices | health | news | medium | {
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1987-06-18T14:39:09.680000 | [
"tin"
] | [
"switzerland",
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"the-european-community's",
"london-metal-exchange"
] | [] | Itc contests use of documents as court evidence | The international tin council, itc,
intervened in a high court hearing in an attempt to prevent the
presentation of internal council documents as evidence.
the intervention in shearson lehman's action against the
london metal exchange over its "ring out" of tin contracts in
1986 is likely to have implications for other cases in which
the council is involved following the collapse of its buffer
stock operations in october 1985, itc delegates said.
the itc's case is being presented by professor rosalyn
higgins and is expected to take a further one or two days next
week. court does not sit tomorrow.
in essence the council is claiming that its status is
similar to that of a foreign embassy and that its archives can
therefore not be used in an english court of law.
the council ended its quarterly session today ahead of
schedule. the meeting had been expected to go on until tomorrow
when the european community's legal advisers were due to
attend, but delegates reviewed the progress of the various
legal actions today.
otherwise, the meeting was occupied with internal
administrative matters, delegates said.
the itc will continue to operate with a reduced staff after
june 30 following the two year extension of the sixth
international tin agreement.
as well as dealing with the ongoing litigation, the council
will continue with its statistical work and carry out some
research studies, although staffing in the research department
is being cut to one from two previously.
at this week's session the council elected philip sparkes
of australia as first vice-chairman for the producing members
and heinz hofer of switzerland as second vice-chairman for the
consumers for the year from july 1. future quarterly sessions
are scheduled for october 5/7 and december 14/16.
reuter | policy-news | law-and-government | news | medium | {
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"english"
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1987-06-18T14:40:40.710000 | [] | [
"usa",
"hannibal",
"mo."
] | [] | [] | [] | American cyanamid to build plant addition | American cyanamid co said it plans
to construct a multimillion-dollar addition to its agricultural
flagship plant in hannibal, mo.
the company said the facilities will produce assert
herbicide, the third in the company's new series of
imidazolinone herbicides.
cyanamid, which is a biotechnology and chemical research
company, said the hannibal plant is its principal agricultural
product manufacturing facility.
assert is a wild oat and broadleaf weed herbicide for use
on small grains and on sunflowers, the company said.
reuter | financial-markets | news | news | medium | {
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1987-06-18T14:45:30.150000 | [] | [
"usa",
"milwaukee",
"wisconsin"
] | [] | [
"first-wisconsin",
"trammell-crow-co",
"first-wisconsin-corp",
"trammell-crow",
"first-wisconsin-center"
] | [] | First wisconsin to sell building for gain | First wisconsin corp said it has
agreed to sell its first wisconsin center in milwaukee and
adjacent property to trammell crow co for 195 mln dlrs,
resulting in a gain of 77 mln dlrs after tax.
it said 36 mln dlrs of that amount will be included in 1987
earnings and the remainder will be accounted for over the next
10 years.
first wisconsin said the transaction was valued at 195 mln
dlrs.
first wisconsin said trammell crow officials said they
planned to build a high-rise, tower next to the 42-story
center, where first wisconsin will continut to have its
headquarters.
in addition to the center, first wisconsin said the
property being sold includes two buildings directly east of the
center. first wisconsin said it will continue to occupy the
area, leasing the space back from trammell crow.
reuter | financial-markets | news | news | low | {
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1987-06-18T14:45:53.700000 | [] | [
"usa",
"israel",
"u.s."
] | [] | [
"overseas-private-investment-corporation",
"north-hills-electronics-inc"
] | [] | North hills closes loan | North hills electronics inc said
its north hills israel ltd unit closed on a 1,500,000 dlr
loan from overseas private investment corporation, an agency of
the u.s. government.
north hills said the unit will use the loan in connection
with the construction and equipping of a 16,000-square-foot
manufacturing facility in israel to produce components for
electrical control systems.
reuter | financial-markets | news | news | low | {
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} | [] | [
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1987-06-18T14:46:47.980000 | [] | [
"usa",
"china"
] | [] | [] | [] | China gets 97.4 mln dlr world bank loan | The world bank said it approved a
97.4 mln dlr loan for china to help boost fertilizer output in
order to increase agricultural production.
the 20-year loan supports a project aimed at improving the
efficiency of medium-scale fertilizer plants through technical
renovations and energy conservation, the bank said.
it said the project also seeks to reduce agricultural
nutrient imbalances by building the capacity for phosphate
fertilizer production and to improve institutional efficiency
by introducing modern economic, financial and operational
systems and techniques.
reuter | industry-news | news | news | medium | {
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} | [] | [
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1987-06-18T14:46:52.580000 | [] | [
"usa"
] | [] | [
"cts"
] | [] | Triton energy corp sets quarterly | Qtly div 2-1/2 cts vs 2-1/2 cts prior
pay oct one
record sept three
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T14:49:58.810000 | [
"alum"
] | [
"usa",
"troutdale"
] | [] | [
"reynolds"
] | [] | Reynolds metals to restart idle potline | Reynolds metals co said it plans
to restart the last idle potline at its troutdale, ore.,
primary aluminum plant.
with the restart of this 22,700 tonne a year production
line, reynolds said it will be operating at 100 pct of its
consolidated primary aluminum capacity of 695,000 tonnes per
year.
reynolds said work on the restart will begin in the near
future and it is expected that actual metal production will
begin september 1.
the company said the start-up was necessitated by
continuing strong demand for aluminum and dwindling worldwide
inventories, and that the metal is needed to supply reynolds'
various fabricating businesses.
reuter | financial-markets | business-and-industrial | news | medium | {
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} | [] | [
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1987-06-18T14:51:53.030000 | [] | [
"usa"
] | [] | [
"hallwood-group-inc",
"fingermatrix-inc"
] | [] | Fingermatrix completes rights offering | Fingermatrix inc said
2,368,253 of the 2,649,387 rights to purchase common shares
that it issued to shareholders were exercised and hallwood
group inc has purchased 165,000 common shares under an
option to buy shares for which rights were not exercised.
in addition, it said it received oversubscription requests
for another 1,400,000 shares and will distribute 116,134 shares
on a pro rata basis.
the company said proceeds after underwriting discounts and
commissions will be about 12.6 mln dlrs.
reuter | payment-notices | news | news | medium | {
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1987-06-18T14:52:10.350000 | [
"nat-gas"
] | [
"usa",
"allegheny",
"west-virginia"
] | [] | [
"western-energy-corp"
] | [] | Allegheny forming subsidiary | Allegheny and western energy corp said
it was forming a subsidiary to market gas to smaller users in
west virginia.
the company also said it completed negotiations to sell
between 10 and 12 mln cubic feet of gas per day to a large,
unspecified east coast utility.
interstate markets will become part of the subsidiary's
operations, the company said.
reuter | financial-markets | business-and-industrial | news | medium | {
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1987-06-18T14:52:43.280000 | [] | [
"usa"
] | [
"william-proxmire"
] | [
"senate",
"the-federal-home-loan-bank-board",
"the-house-banking-committee",
"house"
] | [] | Proxmire says fslic conference set for next week | Senate banking committee chairman
william proxmire, d-wis, said a conference will be held with
the house banking committee next week on a bill to refinance
the federal savings and loan insurance corp.
the senate has passed a 7.5 billion dlr fslic refinancing,
while the house approved five billion dlrs in new funds. the
senate bill also bars new bank services until next march and
bans so-called non-bank banks, provisions the house opposes.
fslic is virtually out of money to help ailing thrift
institutions, according to the federal home loan bank board.
reuter | industry-news | finance | news | medium | {
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1987-06-18T14:53:03.340000 | [] | [
"usa",
"california",
"new-jersey"
] | [
"o'brien"
] | [
"cts",
"o'brien-energy-systems-inc",
"trafalgar-house-plc",
"trafalgar"
] | [] | O'brien energy sees higher year net | O'brien energy systems inc said it
expects net income for the year ending june 30 of 12 to 15 cts
per share, up from eight cts last year.
the company said the earnings will be aided substantially
be an agreement it has signed with trafalgar house plc
. under the agreement, it said trafalgar will provide
turnkey construction, operation and maintenance services, as
well as construction financing, for o'brien cogeneration plants
to be built in new jersey and california. total installation
costs will be about 190 mln dlrs, it said, with construction to
start before year-end.
reuter | financial-markets | news | news | medium | {
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1987-06-18T14:54:05.080000 | [] | [
"usa",
"taiwan",
"nan-ya"
] | [] | [
"formosa-plastics-group",
"ppg"
] | [] | Ppg industries to build taiwan plant | Ppg industries said it signed an
agreement with formosa plastics group to build and operate a
continuous strand fiber glass manufacturing plant in taiwan.
the 50-50 joint venture of ppg and nan ya plastics, a
corporation of formosa plastics group, is subject to approval
of taiwan governmental agencies.
ppg said the plant, scheduled to begin operating in early
1989, will have an initial annual capacity of 20,000 metric
tons.
reuter | financial-markets | business-and-industrial | news | medium | {
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1987-06-18T14:54:28.820000 | [] | [
"usa"
] | [] | [
"morgan-stanley",
"moody's",
"co-inc."
] | [] | Consumers sells bonds in two tranches | Consumers power co is raising 250 mln
dlrs through a two-tranche offering of first mortgage bonds,
said lead manager morgan stanley and co inc.
a 150 mln dlr offering due 1992 was given a nine pct coupon
and par pricing to yield 112.5 basis points over comparable
treasuries. this tranche is non-callable for life.
a companion 100 mln dlr issue maturing in 1997 was assigned
a 9-5/8 pct coupon and priced at 98.50 to yield 9.703 pct, or
143 basis points over treasuries. these bonds are non-callable
for five years.
the debt is rated baa-3 by moody's, bbb-minus by s and p.
reuter | industry-news | finance | news | medium | {
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1987-06-18T14:54:33.070000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | Nynex corp sets qtly dividend | Qtly div 95 cts vs 95 cts prior
pay august three
record june 30
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T14:56:44.970000 | [
"acq"
] | [
"usa"
] | [
"deepak-raj",
"andrew-shore",
"perelman",
"ronald-perelman"
] | [
"gillette-co",
"shearson-lehman-brothers-inc",
"merrill-lynch-and-co.",
"revlon-group-inc",
"gillette"
] | [] | Gillette seen object of global bidding war | Ronald perelman, head of revlon group
inc , may be trying to ignite a bidding war for gillette
co that could draw some big international players and in the
process make a lot of money for himself, wall street analysts
said.
several hours before a regularly scheduled board of
directors meeting, gillette disclosed that perelman requested
consent of its board for an offer of at least 40.50 dlrs per
share. perelman needed the consent because he agreed in
november not to buy stock for 10 years without permission.
"i think ronald perelman is less interested in gillette and
more interested in putting gillette into play because he stands
to make a ton of money," said andrew shore, analyst at shearson
lehman brothers inc. "in play" is a term used on wall street to
describe what happens when a company becomes an unwiling
takeover target.
shore noted that according to the 1986 agreement revlon
gets paid if there is any acquisition of gillette through
november of this year at a price higher than 29.75 dlrs per
share. gillette rose three to 40 today, following a gain of
three yesterday.
the agreement would be calculated on the basis of
perelman's previous holding of 18.4 mln shares, adjusted for a
split. for example, a deal between gillette and some other
company at 44 dlrs per share would make revlon richer by 262
mln dlrs under the formula. neither perelman nor his spokesmen
returned telephone calls seeking comment.
"revlon stands to make a substantial amount of money if
someone else takes over gillette," said analyst deepak raj of
merrill lynch and co. "i'm not saying that is going to happen
but gillette is an undervalued stock with a breakup value of 45
dlrs per share."
shore of shearson lehman said there are a couple of reasons
why perelman may not be really interested in acquiring
gillette. he said perelman, in the process of taking revlon
private after acquiring control of the cosmetics company two
years ago, probably wants to concentrate on improv | payment-notices | news | news | medium | {
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1987-06-18T14:59:39.860000 | [] | [
"usa"
] | [] | [
"cts",
"pnc-financial-corp"
] | [] | Pnc financial raises loss reserve | Pnc financial corp said it will raise
its loan loss reserve by 110 mln dlrs to about 386 mln dlrs,
reducing second quarter results by 66 mln dlrs or 92 cts per
share on a fully diluted basis.
the company said that after the charge it still expects to
report a second quarter profit and expects a first half profit
of about 100 mln dlrs.
it added that it expects normal operating earnings in the
second half.
the company earned 68.5 mln dlrs in the 1986 second quarter
and 121.6 mln dlrs in the prior first half.
it said the increase in loss reserves was due to its
appraisal of the worldwide economy, particularly in less
developed countries that are experiencing payment problems.
the company said the part of its loss reserve allocated to
such countries is about 35 pct of its loans to those countries.
it said the move would not result in any change to its current
dividend policy.
reuter | industry-news | news | news | medium | {
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1987-06-18T14:59:53.060000 | [] | [
"pakistan",
"kenya",
"usa",
"bangladesh",
"botswana"
] | [
"simiarly",
"robins"
] | [
"a.h.-robins",
"the-u.s."
] | [] | A.h. robins wins appeals court ruling | A.h. robins co, facing suits over its
dalkon shield birth control device, said a federal court of
appeals approved of the way the company notified potential
victims about a possible liability.
the notification of potential claimants, which began in
january 1986 and ended several months later, was challenged by
some claimant committees who said the company's program was
inadequate.
a company spokesman said a.h. robins was pleased with the
ruling, noting an unfavorable decision would have "set the
whole thing back for quite some time."
the ruling by the u.s. court of appeals for the fourth
circuit, which upheld a lower court, said, "the notification
program used by robins was ... reasonable.
"the evidence indicates that every news outlet in the world
received the information. simiarly, there is strong evidence
that the news was broadly disseminated worldwide.
"women from such unlikely locations as kenya, botswana,
pakistan and bangladesh ultimately filed claims. a battery of
world health and welfare organizations also disseminated the
information. it appears to this court that the extensive
notification program was a success."
reuter | financial-markets | health | news | medium | {
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1987-06-18T15:00:13.140000 | [] | [
"usa"
] | [] | [
"merrill-lynch-capital-markets",
"aluminum-co-of-america",
"salomon-brothers-inc",
"alcoa",
"gmt"
] | [] | Alcoa to buy back 12 pct debentures | Aluminum co of america said it is
offering to purchase any and all of its outstanding 150 mln
dlrs of 12 pct sinking fund debentures of 2012.
it said it will buy back the debentures at 1,105 dlrs per
1,000 dlr principal amount, plus accrued interest up to, but
not including, the day of payment.
the offer will end at 1700 edt (2100 gmt) on june 30,
unless extended. payment will be made on july eight. the
buyback offer will be co-managed by merrill lynch capital
markets and salomon brothers inc, alcoa said.
reuter | payment-notices | news | news | medium | {
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1987-06-18T15:05:55.470000 | [
"strategic-metal"
] | [
"usa"
] | [] | [
"tektronix-inc's",
"trw-inc's"
] | [] | Trw inc sets pact with tektronix | Trw inc's trw componenets
international inc unit said it set a pact with tektronix inc's
triquint semiconductor unit to jointly supply gallium arsenide
devices for space applications.
as part of the agreement, the two companyies are working
together to establish procedures to produce class "s" (a
stringent military specification for space use) gallium
arsenide components.
triquint makes gallilum arsenide integrated circuits.
reuter | financial-markets | computers-and-electronics | news | medium | {
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} | [] | [
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1987-06-18T15:08:54.040000 | [
"zinc"
] | [
"peru",
"minero-peru"
] | [] | [
"minpeco"
] | [] | Force majeure lifted at cajamarquilla | Peru's state minerals marketing arm, minero
peru comercial sa (minpeco), lifted a force majeure on zinc
ingot shipments from the country's biggest zinc refinery at
cajamarquilla, a spokesman said.
the spokesman said the problems affecting sulphuric acid
and roaster plants that had halted production since may 4 had
been resolved.
however, he said production of zinc ingots this year was
expected to fall to around 86,000 tonnes this year at
cajamarquilla, from 94,000 tonnes in 1986 because of the
stoppage.
the refinery has an optimum annual production capacity of
100,000 tonnes but its highest production was 96,000 tonnes of
refined zinc ingots in 1985, the spokesman said.
reuter | business-news | business-and-industrial | news | medium | {
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"ISO3166-2-lvl4": "PE-LIM",
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1987-06-18T15:11:37.720000 | [] | [
"usa",
"new-york"
] | [
"eddie"
] | [
"moody's",
"crazy-eddie-inc's"
] | [] | Crazy eddie may be downgraded by moody's | Moody's investors service inc said it
may downgrade crazy eddie inc's 65 mln dlrs of b-1 convertible
subordinated debentures.
moody's cited crazy eddie's reduced profitability, recent
acquisition proposals for the company that could increase debt
leverage, and an uncertain earnings outlook.
the agency said its review would consider the company's
concentration in the highly competitive new york marketplace,
as well as crazy eddie's ability to maintain adequate bank
financing.
reuter | payment-notices | news | news | low | {
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} | [] | [
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1987-06-18T15:16:05.520000 | [] | [
"mexico",
"britain",
"uk",
"paris"
] | [
"gustavo-petricioli"
] | [
"paris-club"
] | [] | Mexico signs 120 mln dlr restructuring with u.k. | Mexico signed a rescheduling accord
covering 120 mln dlrs in official debts to britain, as part of
a 1.8 billion dlr restructuring agreed with the paris club of
creditors last year, the finance ministry said.
the rescheduling is over 10 years with five years grace,
and carries an interest margin of 1/2 pct over libor.
finance minister gustavo petricioli, who signed the accord
for mexico, said the agreement reflects a strengthening of
economic, financial and trade relations between the two
countries.
the paris club restructuring forms part of a 12 billion dlr
financial package agreed with mexico's creditors last year.
the rescheduling covers public sector trade debts coming
due between september 1986 and march 1988.
reuter | industry-news | finance | news | medium | {
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"city": "Ciudad de México",
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1987-06-18T15:17:19.440000 | [] | [
"usa"
] | [] | [
"co-inc.",
"cns-inc"
] | [] | Cns completes initial public offering | Cns inc said it completed its
initial public offering of 1,035,000 shares of common stock at
3.75 dlrs a share through an underwriting group headed by
engler-budd and co inc.
concurrent with the offering, the company made an exchange
offer in which it issued 277,127 common shares in exchange for
935,333 dlrs of outstanding promissory notes at the rate of
3.375 dlrs a share. this represented over a 93 pct acceptance
of the exchange offer, the company said.
reuter | payment-notices | news | news | medium | {
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1987-06-18T15:17:38.420000 | [
"iron-steel"
] | [
"usa"
] | [] | [
"uss",
"usx-corp"
] | [] | Usx unit offers steel prices directory | Usx corp said its uss division has
available a comprehensive sheet steel selection and pricing
system detailing the company's full line of products.
the company said it was the first complete update in 25
years.
the new prices in the book are effective after oct one,
1987, the company said.
reuter | financial-markets | news | news | low | {
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1987-06-18T15:17:43.640000 | [
"copper"
] | [
"usa"
] | [
"reuter"
] | [
"inspiration-resources-corp,"
] | [] | Inspiration cuts copper price 0.50 ct to 74 cts | Inspiration consolidated copper co, a
subsidiary of inspiration resources corp, said it is lowering
its base price for full-plate copper cathodes by 0.50 cent to
74.0 cents a lb, effective immediately.
reuter | business-news | news | news | low | {
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1987-06-18T15:18:11.680000 | [
"earn"
] | [
"canada"
] | [] | [
"cts"
] | [] | six mths may 31 net | Shr 58 cts vs 38 cts
net 4,628,650 vs 3,041,407
revs 45.0 mln vs 28.1 mln
reuter | company-deals | news | news | low | {
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1987-06-18T15:19:04.340000 | [
"grain",
"corn"
] | [
"usa",
"china",
"u.s."
] | [] | [] | [] | China adds corn to commitments - usda | China has added 30,000 tonnes of u.s.
corn to its previous commitments, according to the u.s.
agriculture department's latest export sales report.
the report, covering transactions in the week june 11, the
additional corn resulted from changes in destinations.
total corn commitments for delivery in the 1986/87 season
amount to 1,083,400 tonnes.
reuter | business-news | news | news | medium | {
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1987-06-18T15:19:17.120000 | [
"earn"
] | [
"usa"
] | [] | [
"cts",
"med-reuter"
] | [] | Data med clinical support 1st qtr loss | Period ended may 31
shr loss five cts vs loss 11 cts
net loss 306,007 vs loss 102,420
sales 110,522 vs 10,105
note: full name is data med clinical support services inc
per-share data adjusted for three-for-one stock split
payable june 30, 1987
the only sales reflected in fiscal 1987 period are sales
recorded subsequent to the may 22, 1986 acquisition of the
assets of a predecessor company by data med
reuter | company-deals | news | product/company/organization/personal-websites | low | {
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1987-06-18T15:24:10.650000 | [] | [
"usa"
] | [
"alexander"
] | [
"alexander-services-inc"
] | [] | Alexander establishes insurance unit | Alexander and alexander services inc
said it formed an insurance unit known as the environmental
protection insurance co-risk retention group to specialize in
environmental liability coverage.
the company said the unit has started preliminary
underwriting activities and will provide environmental
impairment coverage to companies with pollution liability
exposures.
reuter | financial-markets | finance | news | medium | {
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1987-06-18T15:26:04.890000 | [] | [
"usa"
] | [] | [
"southland-corp's",
"p",
"southland"
] | [] | Southland may be downgraded by s/p | Standard and poor's corp said it may
downgrade southland corp's 156 mln dlrs of debt securities and
125 mln dlrs (liquidation value) of preferred stock.
the agency cited southland's announcement that it is
studying various restructuring alternatives. s and p said that
the company has been a rumored takeover target for a while, and
a restructuring would probably be a defensive move to thwart an
unfriendly bid.
southland currently carries bbb senior debt and a-2
commercial paper.
reuter | payment-notices | news | news | low | {
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1987-06-18T15:33:11.980000 | [] | [
"usa",
"new-york"
] | [
"eddie"
] | [
"moody's",
"crazy-eddie-inc's"
] | [] | Corrected - crazy eddie may be downgraded | Moody's investors service inc said it
may downgrade crazy eddie inc's 81 mln dlrs of b-1 convertible
subordinated debentures.
moody's cited crazy eddie's reduced profitability, recent
acquisition proposals for the company that could increase debt
leverage, and an uncertain earnings outlook.
the agency said its review would consider the company's
concentration in the highly competitive new york marketplace,
as well as crazy's ability to maintain adequate bank financing.
moody's corrects amount of debt from 65 mln dlrs.
reuter | payment-notices | news | news | low | {
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1987-06-18T15:34:32.040000 | [] | [
"usa",
"west-germany"
] | [] | [
"siemens-ag",
"the-u.s.-army's",
"mcdonnell-douglas-corp"
] | [] | Mcdonnell douglas , siemens sign memorandum | Mcdonnell douglas corp and siemens ag
said they signed a memorandum of understanding dealing
with the ah-64 apache helicopter.
they said the memorandum deals with depot maintenance of
the u.s. army's helicopters based in west germany and a joint
study of the potential development and production of the
helicopter for the west german army.
reuter | financial-markets | business-and-industrial | news | low | {
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1987-06-18T15:41:39.760000 | [] | [
"u.k.",
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"uk",
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"britain",
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] | [
"margaret-thatcher",
"george-younger",
"reagan",
"thatcher"
] | [
"parliament",
"congress"
] | [] | Uk "star wars" contracts seen as too small | British companies are being largely
frozen out of president reagan's "star wars" project despite
earlier hopes of lucrative contracts from the research bonanza,
according to a report by members of parliament (mps).
funding for the project, formally known as the strategic
defence initiative (sdi), has so far amounted to some 7.5
billion dlrs, parliament's defence committee said.
but british contractors have won only 34 mln dlrs of this
-- 20 mln dlrs on a government-to-government basis, with the
rest secured directly by u.k. firms and institutions.
in december 1985, britain and the united states signed a
memorandum of understanding (mou) relating to cooperative
research for the strategic defence initiative.
at the time, hopes were expressed that u.k. industrial
participation would lead to significant spin-off of technology,
both of other defence areas and to the civil sector.
but the all-party committee report said "the debate about
the merits of u.k. participation in sdi has now to be conducted
within a rather different context than was the case when the
mou was negotiated.... it has become evident that sdi
participation may not be the great bonanza that some thought."
british prime minister margaret thatcher has been one of
president reagan's few staunch supporters on his plan to
development an anti-ballistic missile defence screen.
but government sources said she has become angry about
bureaucratic barriers to british companies trying to break into
the lucrative american defence market generally -- a view
voiced again today by her defence minister, george younger.
he told a gathering here of british and american
businessmen, "we in europe greatly welcome the emphasis which
you in the u.s. have placed on cooperation and collaboration in
the defence equipment sphere."
he added, "but i do worry that the failure of important and
influential individuals in congress and elsewhere to realise
the true nature of the two-way street in ter | policy-news | business-and-industrial | news | medium | {
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1987-06-18T15:42:36.690000 | [
"acq"
] | [
"usa"
] | [
"carter-hawley-hale-stores-inc",
"carter-hawley"
] | [] | [] | Carter hawley sets record date for vote | Carter hawley hale stores inc said
it has set june 29 as the record date for shareholders voting
on the company's proposed restructuring at its annual meeting.
the company has yet to set a date for the meeting, but has
said it will be held before the end of august.
under the proposal, carter hawley would split into a
specialty store company and a department store company.
shareholders would get 17-dlrs in cash and a share in each
of the two new companies for each existing common share they
hold. the restructuring was announced in december, after carter
hawley rejected a buy-out offer by retail partners.
reuter | payment-notices | news | news | medium | {
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1987-06-18T15:43:57.700000 | [
"acq"
] | [
"usa",
"u.s."
] | [] | [
"allegheny-axle-co",
"allegheny",
"allegheny-international-inc"
] | [] | Allegheny sells three industrial units | Allegheny international inc said it
sold three of its industrial units which served the railroad
industry to , a senior
management group of allegheny.
terms of the transaction were not disclosed.
included in the sale were chemetron railway products, true
temper railway appliances inc and allegheny axle co, the
company said.
the three units include 12 plants throughout the u.s., the
company said.
reuter | financial-markets | news | news | medium | {
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1987-06-18T15:45:19.200000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | Vestaur securities inc quarterly dividend | Qtly div 30.1 cts vs 30.1 cts prior
pay july 15
record june 30
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T15:45:23.910000 | [] | [
"usa",
"bancorp"
] | [] | [
"cts",
"div",
"virginia-inc-reuter"
] | [] | One valley bancorp inc qtly dividend | Qtly div 26 cts vs 26 cts prior
pay july 15
record june 29
note:the company's full name is one valley bancorp of west
virginia inc
reuter | company-deals | business-and-industrial | boilerplate-content | low | {
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1987-06-18T15:46:06.110000 | [] | [
"usa",
"mississippi",
"nampa",
"idaho"
] | [] | [
"cortez-international-ltd.",
"ram-industries-inc",
"multiple-resources-inc"
] | [] | Cortez unit sets food partnership | Ram industries inc, a unit of cortez
international ltd., said an agreement has been reached with
of nampa, idaho, to lease all of
treasure's buildings and equipment.
the company said the joint venture will be between ram and
one of its units, multiple resources inc, and that the
operation will retain key treasure management employees.
ram said operations will begin by august one and will
involve processing onions in addition to other frozen food
products during the initial year of the project.
ram said it expects sales to exceed 12 mln dlrs during the
first 24 months with net income exceeding 1.8 mln dlrs.
the company also said it is in negotiations to purchase a
yet undisclosed facility in mississippi which processes up to
1.4 mln pounds of frozen okra monthly.
reuter | financial-markets | news | news | medium | {
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1987-06-18T15:46:17.500000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | Ennis business forms inc qtly dividend | Qtly div 13 cts vs 11-1/3 cts prior
pay aug 3
record july 15
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T15:46:20.220000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | Great lakes chemical corp sets reg div | Qtly div 15 cts vs 15 cts prior
pay july 28
record july one
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T15:46:29.720000 | [] | [
"usa"
] | [] | [
"the-new-york-stock-exchange"
] | [
"nyse"
] | Nyse to disclose imbalances twice tomorrow | The new york stock exchange said in
connection with the triple expirations of stock index futures,
options and individual options it will disclose imbalances in
50 major stocks tomorrow at 0900 edt and again at 1530 edt.
the information will be disclosed via financial news
services.
reuter | payment-notices | finance | news | medium | {
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} | [] | [
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1987-06-18T15:46:51.070000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | Southern california edison raises dividend | Qtly div 59.5 cts vs 57 cts
pay july 31
record july 2
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T15:49:10.200000 | [
"grain",
"corn"
] | [
"usa",
"iowa",
"h.j.-heinz",
"u.s."
] | [
"christopher-bond",
"tom-harkin",
"harkin"
] | [
"conagra",
"pillsbury",
"kellogg",
"nabisco",
"quaker",
"ralston-purina",
"senate-agriculture-subcommittee",
"the-european-community"
] | [] | Senator defends u.s. mandatory farm control bill | Sen. tom harkin, d-iowa, defended his
controversial mandatory supply control farm bill and said u.s.
farmers should be allowed to vote in a referendum whether they
approve of the proposal.
the harkin proposal would set loan rates of 5.17 dlrs per
bushel for wheat, 3.77 dlrs for corn and 9.32 dlrs for
soybeans, all to be put in effect under strict controls on
planted acreage reductions. present loan rates are 2.28 dlrs
for wheat, 1.92 for corn, and effectively 4.56 for soybeans.
also under the plan, the u.s. would seek a world market
sharing cartel with the european community and other exporting
nations, to share-out export markets, harkin said during the
first of several senate agriculture subcommittee hearings
examining farm programs.
harkin made the following claims in testimony on his
"family farm act."
-- the mandatory control bill would increase farm income
and reduce government spending on agriculture.
-- harkin said his policy of high price supports would not
ruin u.s. agricultural exports as critics claim, but would
increase overall revenue from exports.
this would be done by seeking agreement among major
exporting countries including the european community on market
sharing at agreed high prices.
sen. christopher bond, r-mo., countered during the hearing
that such a grain export cartel is not workable.
-- harkin acknowledged that higher commodity price supports
would be passed onto consumers, but he said high food prices
stem more from "gouging" by food processing companies than from
high farm product prices.
harkin cited what he termed "excessive" net returns on
equity over five years of 33.4 pct at kellogg, 31.9 pct
monfort, 22.8 pct nabisco, 22.8 pct conagra, 21.2 pct h.j.
heinz, 19.1 pct ralston purina, 17.2 pct pillsbury and 16.7 pct
quaker oats.
-- harkin said a "legitimate" concern about his bill would
be the impact of higher prices on livestock producers.
he said as a transition to the higher prices, he wo | policy-news | news | news | medium | {
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} | [] | [
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1987-06-18T15:51:15.230000 | [
"acq"
] | [
"canada"
] | [
"bob-blair",
"blair"
] | [
"nova",
"nova-corp",
"dome-petroleum-ltd",
"amoco",
"husky-oil-ltd-.",
"amoco-canada",
"canada-petroleum-co-ltd",
"amoco-corp",
"transcanada-pipelines-ltd"
] | [] | Nova considering bid for dome | Nova corp is considering a
takeover bid for dome petroleum ltd, either alone or as part of
a consortium, nova chairman bob blair said.
"we are thinking about making an offer to dome or amoco
(canada petroleum co ltd) or the creditors," blair told
reporters before the annual meeting. amoco canada is a unit of
amoco corp , which has made a 5.2 billion-dlr acquisition
offer for dome.
"there is ongoing, serious thought applied to dome in nova
and in husky, but no decision of substance as to future action
has been taken in either company," blair said. nova owns 43 pct
of husky oil ltd .
blair also said that nova has made no decision as to
whether it would want to be lead partner in a joint purchase of
dome.
he added that some of the discussions with other parties
about dome included transcanada pipelines ltd , but
refused to name the other participants.
reuter | payment-notices | business-and-industrial | news | medium | {
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1987-06-18T15:52:11.930000 | [] | [
"usa"
] | [] | [
"cts",
"red-lion-inns-limited-partnership"
] | [] | Red lion inns l.p. sets initial dividend | Red lion inns limited
partnership said it declared an initial cash distribution of 43
cts per unit, which is a proration of 50 cts per quarter.
the distribution is payable august 14 to unitholders of
record june 30.
the payout was adjusted to reflect the actual number of
days the partnership will have owned the hotels during the
calendar quarter ended june 30, 1987.
reuter | payment-notices | news | news | medium | {
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1987-06-18T15:52:16.760000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | Nynex corp quarterly dividend | Qtly div 95 cts vs 95 cts prior
pay aug 3
record june 30
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T15:52:30.340000 | [] | [
"usa"
] | [] | [
"cts",
"div"
] | [] | First federal of michigan qtly div | Qtly div 12 cts vs 12 cts prior
pay aug 10
record july 10
reuter | company-deals | computers-and-electronics | boilerplate-content | low | {
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1987-06-18T15:52:37.300000 | [] | [
"usa"
] | [] | [
"gillette",
"revlon-group-inc-.",
"gillette-co's",
"revlon"
] | [] | Gillette paper may be cut by s/p | Standard and poor's corp said it placed
on creditwatch with negative implications gillette co's a-2
commercial paper pending the outcome of a possible takeover by
revlon group inc .
revlon, currently bound by a standstill agreement following
an earlier bid for the company, has asked gillette's board for
permission to make a 40.50 dlr per share bid for the firm.
should revlon be successful, gillette's rating would
reflect the weaker credit quality and aggressive nature of
revlon, whose senior debt is rated b, the agency said.
reuter | payment-notices | news | news | low | {
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} | [] | [
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1987-06-18T15:56:50.780000 | [] | [
"usa",
"ill."
] | [
"scott-horne"
] | [
"kraft-singles-american",
"the-glenview",
"the-federal-trade-commission",
"kraft-inc",
"kraft",
"ftc"
] | [] | Kraft defends cheese advertising | Kraft inc said it strongly disagreed
with a complaint filed by the federal trade commission that it
made false and misleading claims about its kraft singles cheese
product and said it would fight the charge.
"kraft has always been committed to informative and
truthful advertising and this compaign clearly meets those
criteria," kraft said in a prepared statement.
"we believe the integreity of the advertising will be
established through the litigation process," kraft said.
company spokesman scott horne said he could not elaborate
on the statement because the case is being litigated.
the ftc charged kraft with making false and misleading
claims in its advertising by overstating the calcuim content of
its kraft singles american pasteurized process cheese food.
in an administrative complaint, the ftc charged the
glenview, ill., food and consumer products company with falsely
claiming that a slice of kraft singles contains the same amount
of calcium as five ounces of milk.
the company also falsely advertised that kraft singles
contain more calcium than most slices of imitation cheese and
that it could substantiate its claims, the ftc charged.
reuter | financial-markets | food-and-drink | news | medium | {
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} | [] | [
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1987-06-18T18:08:04.360000 | [] | [
"usa",
"maryville",
"chillicothe",
"mo."
] | [] | [
"citizens-bancshares-co",
"fdic",
"91st",
"first-midwest's"
] | [] | Fdic says missouri-based bank has failed | The federal deposit insurance corp
said the first midwest bank based in maryville, mo., was closed
by state regulators, becoming the 91st federally insured bank
to fail this year.
the fdic said first midwest's 25.1 mln dlrs in deposits are
being assumed by the first bank of maryville, a newly chartered
subsidiary of (citizens bancshares co) of chillicothe, mo.
it said the failed bank's two offices, with assets of 25.2
mln dlrs, will reopen june 19 as branches of first bank.
reuter | industry-news | finance | news | medium | {
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} | [] | [
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1987-06-18T18:09:07.170000 | [] | [
"usa"
] | [] | [
"cts",
"first-wachovia-corp",
"wachovia"
] | [] | First wachovia adds to loan loss reserve | First wachovia corp said it will
add 50 mln dlrs to its loan loss reserve. it said about 35 mln
dlrs will cover bad loans to developing countries and the
balance is for domestic and international loans.
first wachovia also said it will report a second quarter
capital gain of 14.3 mln dlrs from the sale of equity
securities. it said the effect of these transactions will
reduce its second quarter earnings by 20 mln dlrs or 37 cts a
share in net income for the quarter.
in the year-ago quarter the bank earned 45 mln dlrs or 83
cts a share.
first wachovia also said that excluding the second quarter
special items, it expects to report a "good operating earnings
performance" compared with the year-ago quarter.
reuter | industry-news | news | news | medium | {
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} | [] | [
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1987-06-18T18:14:59.230000 | [] | [
"usa",
"kansas"
] | [
"robert-davis",
"sullivan",
"reagan",
"kalo-hineman",
"mark-sullivan",
"susan-phillips"
] | [
"cftc",
"the-federal-home-loan-bank-board",
"phillips",
"white-house",
"the-university-of-iowa"
] | [] | White house staffer considered to head cftc | A white house associate personnel
director, mark sullivan, emerged as a possible candidate to
replace susan phillips as chairman of the commodity futures
trading commission (cftc).
commodity industry and government sources said sullivan,
who is not well known to the commodities industry, has emerged
this week as a surprise candidate for the post.
sullivan, an attorney, has been in charge of reagan
administration personnel appointments in the legal and
financial affairs areas since july, 1986.
phillips resigned last month to assume the post of vice
president of finance at the university of iowa.
following phillips' resignation cftc commissioner kalo
hineman, a kansas farmer, or commissioner robert davis were
considered the strongest candidates to head the agency, at
least temporarily.
however, industry sources said the strong speculation about
sullivan suggests he now is the leading candidate.
sullivan's name has also been floated recently for other
reagan administration financial regulatory positions. he was
rumored in april to be under consideration for a position on
the board of the federal home loan bank board, which regulates
savings and loan associations.
reuter | policy-news | finance | news | medium | {
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1987-06-18T18:15:40.410000 | [
"gnp",
"bop"
] | [
"west-germany",
"west-germany's",
"france"
] | [
"reagan"
] | [
"oecd"
] | [] | Oecd sees german growth hit by low domestic demand | West german economic growth will slow to
1.5 pct this year from 2.4 pct in 1986 due to weak domestic
demand and tougher competition from abroad, the organisation
for economic cooperation and development (oecd) said in its
semi-annual review of the world economy.
this view is less favourable than the west german
government's forecast of a growth rate of under two pct this
year, but is in line with forecasts by independent economic
institutes of growth ranging from 1.5 to two pct.
the oecd said that the economy should pick up next year,
with the gross national product rising by two pct in real
terms.
the oecd said it assumed the german economy was passing
through a period of temporary weakness and there would be some
recovery in business confidence in the near future.
but it warned that the key to an improvement in the economy
was higher domestic demand, which is only forecast to rise by
2.5 pct this year and 2.75 pct in 1988, below 1986's 3.7 pct.
while noting that the government is bringing forward a five
billion mark tax reform to january 1988, the oecd said that "the
medium to longer-term performance of the west german economy
could be improved by reduction of subsidies - which would allow
relatively lower tax rates."
since the oecd report was compiled, the west german federal
statistics office has released figures showing that the gnp
actually fell 0.5 pct in real terms in the first quarter of
this year compared with the final three months of 1986.
diplomatic sources here said that west germany appeared
likely to finish the year with the lowest growth rate of any of
the group of seven leading industrial nations.
west germany's current account surplus, the target of
considerable criticism by the reagan administration, is
expected to rise slightly to 37 billion dlrs this year from
35.8 billion in 1986, before declining to 29 billion dlrs in
1988.
reuter | earnings-reports | news | news | medium | {
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1987-06-18T18:15:56.710000 | [
"acq"
] | [
"usa",
"houston"
] | [] | [
"tvx-broadcast-group-inc",
"the-securities-and-exchange-commission",
"wedge-group-inc"
] | [] | Investment firm raises tvx stake | Wedge group inc, a houston investment
firm, said it raised its stake in tvx broadcast group inc to
682,419 shares, or 15.1 pct of the total outstanding common
stock, from 559,219 shares, or 12.4 pct.
in a filing with the securities and exchange commission,
wedge said it bought 123,200 tvx common shares at prices
ranging from 8.00 to 10.625 dlrs a share.
reuter | payment-notices | finance | news | medium | {
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1987-06-18T18:19:46.220000 | [
"gnp",
"jobs",
"cpi"
] | [
"france"
] | [] | [
"oecd"
] | [] | Higher growth, unemployment in france, oecd says | France's growth rate is expected to
strengthen in the second half of this year after a poor first
half, but unemployment will worsen, the organisation for
economic cooperation and development (oecd) said.
in its semi-annual review of the world economy, the oecd
forecast that growth in the french gross domestic product (gdp)
would run at about two pct in the next six months. it said the
rate would be in line with the 1986 trends, but significantly
higher than in the first half of this year.
the oecd said france's economic situation has deteriorated
somewhat during the early months of 1987.
activity has slowed, primarily reflecting an inventory
adjustment, while unemployment has risen rapidly and inflation
has reaccelerated, the oecd said. unemployment is likely to
reach 12 pct of the workforce by the end of 1988.
the report said inflation should slow and domestic demand
pick up in the second half of this year. but both data are
likely to be worse than those recorded in 1986, it added.
the oecd forecast a 2.75 pct rise in consumer prices for
the second half of this year, a one pct drop from the first six
months. the slowdown would bring the inflation rate to 3.25 pct
for the whole year, sharply up from last year's 2.2 pct.
reuter | earnings-reports | news | news | medium | {
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1987-06-18T18:21:59.230000 | [
"acq"
] | [
"usa"
] | [
"nash-finch"
] | [
"nova-scotia",
"the-securities-and-exchange-commission",
"empire-company-ltd",
"nash-finch-co"
] | [] | Group raises nash finch stake | A group including members of the
sobey family of nova scotia and empire company ltd, said it
raised its stake in nash finch co to 442,498 shares, or 8.6 pct
of the total outstanding, from 374,498 shares, or 7.3 pct.
in a filing with the securities and exchange commission,
the group said it bought 68,000 nash finch common shares
between april 7 and june 17.
reuter | payment-notices | news | news | medium | {
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1987-06-18T18:26:17.380000 | [
"gnp",
"jobs"
] | [
"italy",
"france"
] | [] | [
"oecd"
] | [] | Italian economic outlook less bright, oecd says | Italy's economic outlook for 1987 and 1988
is likely to be less favourable than last year with slightly
lower growth, higher unemployment and an increased trade
deficit, the organisation for economic cooperation and
development (oecd) said.
but the oecd, in its half-yearly report, forecast a
slightly lower inflation rate over the next two years. last
year italy ranked as one of the oecd's fastest growing
economies with gross domestic product (gdp) growth at 2.7 pct.
the oecd said italy's gdp may grow by three pct in 1987,
but will then fall back to 2.5 pct in 1988.
the inflation rate will probably stabilise at around five
pct during the projection period as a result of a turnaround in
import prices, particularly oil, an acceleration in labour
costs and the effects of domestic demand pressure, the report
said.
this year, and to a lesser degree in 1988, domestic demand
should be stimulated by buoyant growth in household consumption
made possible by wage increases following pay negotiations.
domestic demand pressure, coupled with the deterioration in
italian competitiveness, is likely to stimulate imports and
adversely affect exports in 1987 and 1988. this could result in
a sharp negative contribution to the currrent account.
reuter | earnings-reports | news | news | medium | {
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1987-06-18T18:29:23.830000 | [
"trade",
"bop",
"gnp"
] | [
"france",
"japan"
] | [] | [
"oecd",
"the-oecd"
] | [] | Japan trade surplus will grow again in 1987, oecd | Japan's trade surplus is likely to
continue to grow in 1987, as sales of japanese goods abroad
increase while domestic demand remains sluggish, the
organization for economic cooperation and development (oecd)
said.
in its latest half-yearly review of the world economy, the
oecd said japan managed to considerably reduce its surplus last
year, when domestic demand grew by four pct in 1986 while
export markets rose by only two pct.
but it said this differential between the growth of
domestic and foreign demand would reverse in 1987 and 1988,
"thus weakening the international adjustment process."
it forecast a slowing in domestic growth to little over two
pct but with a rise in exports of 3.3 pct in 1987 and 3.6 pct
in 1988. as a result, the current account surplus in 1987 will
rise to 95 billion dlrs from 86 billion in 1986, although in
1988 it should fall back to 87 billion dlrs.
the oecd outlook did not take account of the 6,000 billion
yen package announced last month to stimulate domestic demand
and increase imports to japan. however, oecd officials said the
measures will significantly strengthen domestic demand, quite
possibly exceeding one pct gnp when the full effects have
worked through, and thus will provide some stimulus to imports.
the oecd outlook said, "continued large current account
surpluses and the further build-up of an already-substantial
net external asset position could well lead to upward pressure
on the yen." it said that further appreciation could then lead
manufacturers to postpone their investment plans and thus
weaken domestic growth.
the oecd said japan's gross national product was likely to
gorw an annual two pct in 1987 and 1988, below 1986's 2.5 pct
growth. but it said japan would continue its good performance
on inflation, with a zero figure expected in 1987 compared to a
0.6 pct rise in consumer prices last year.
reuter | earnings-reports | news | news | medium | {
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} | [
"japanese"
] | [
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1987-06-18T18:29:49.570000 | [
"trade"
] | [
"usa",
"the-united-states",
"canada",
"u.s."
] | [
"william-niskanen",
"reagan",
"brian-mulroney"
] | [
"the-cato-institute-of-washington",
"the-fraser-institute-of-vancouver",
"cato"
] | [] | U.s.-canada ties seen worse without trade pact | U.s.-canadian ties could worsen if
the two nations are unable to reach a free trade pact,
according to a study published by two nonpartisan public policy
research groups.
the cato institute of washington and the fraser institute
of vancouver said removing the remaining tariffs on cross
border trade would benefit both countries.
but cato chairman william niskanen added "the two nations'
generally harmonious trade relations are probably not
sustainable without a new agreement."
the united states and canada, whose cross-border trade
totaled about 125 billion dlrs last year, have been holding
talks since last june on a pact to end the few trade barriers
remaining between their two countries.
the u.s. put a deadline on the talks of october 1, but both
sides have said an agreement is likely despite tough bargaining
remained.
niskanen said if no pact is reached, bilateral trade ties
could deteriorate because of congressional pressure on
president reagan to implement trade laws more aggressively, and
this could hit some canadian trade practices.
he noted canada is seeking foreign investment in its auto
industry, which could put strains on the considerable bilateral
free trade in u.s. and canadian autos and parts.
niskanen also said the canadian government is vulnerable to
a resurgence of economic nationalism which could restrict u.s.
exports to canada.
a free trade pact, backed by president reagan and prime
minister brian mulroney, would open new markets for canada and
enable its industries to achieve economies of scale, which
would also help it widen exports worldwide, he said.
it would also increase the gross national products of both
countries.
niskanen said the goal of a pact should be to end all
tariffs within 10 years, lower subsidies on exports, set rules
for trade in services and investments, end curbs on government
procurement and agree ways to resolve trade disputes.
reuter | policy-news | business-and-industrial | news | medium | {
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} | [
"canadian"
] | [
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1987-06-18T18:30:53.230000 | [
"gnp",
"jobs",
"cpi"
] | [
"belgium",
"netherlands",
"france",
"luxembourg"
] | [
"reuter"
] | [
"oecd"
] | [] | Economic growth seen sluggish in benelux countries | Economic growth will remain sluggish in
the netherlands and belgium next year and unemployment may
rise, the organisation for economic cooperation and development
forecast.
belgium's gdp growth may slow down to 1.5 pct this year and
next year, bringing a rise in the number of jobless, the oecd
said in its semi-annual survey. belgian inflation could
stabilise at 1.5 to 2.0 pct, while the current account surplus
will probably remain large at about three pct of gdp.
while the belgian government has made progress in trimming
its borrowing requirement, "it will probably be insufficient to
check the self-sustaining nature of the deficit," the oecd said.
in the netherlands real gdp growth will also slip to 1.5
pct this year and one pct in 1988, with dutch exports becoming
less competitive and imports rising. "employment is forecast to
decelerate as well, reflecting more sluggish growth in the
private sector and budgetary cuts," the report said.
dutch consumer prices are set to fall by 0.5 pct in 1987
and stay stable in 1988, partly as a result of declining
domestic gas prices.
luxembourg's economy, by contrast, will see slightly faster
growth in gdp this year as a result of an upward movement in
wages. but real growth in consumption will ease next year.
reuter | earnings-reports | news | news | medium | {
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} | [
"dutch",
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] | [
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1987-06-18T18:31:56.820000 | [
"gnp"
] | [
"turkey",
"greece",
"france",
"portugal",
"spain"
] | [] | [
"oecd"
] | [] | Southern europe has strong domestic demand growth | Strong growth in domestic demand was a key
feature of the economies of southern european countries in
1986, though the growth is seen slowing this year and next, the
organisation for economic cooperation and development said.
in its semi-annual report, the oecd said portugal's total
domestic demand growth would decline from 7.6 pct last year to
five pct in 1987 and 3.75 pct in 1988 as slower wage growth
restrained private consumption.
turkey's economy grew much faster than expected in 1986 and
domestic demand surged 10.5 pct, but this growth was expected
to be halved to five pct next year.
in spain, buoyant domestic demand, led by fixed investment,
had been the driving force behind rapid growth in gross
domestic product. both fixed investment and private consumption
were expected to ease during 1988 but would still remain
strong.
the oecd forecast that spanish imports would rise sharply
next year, reflecting strong demand, entry to the european
community and declining competitiveness.
in greece, inflation was forecast to turn downwards
following an increase early this year linked with the
introduction of value added tax and a surge in food prices due
to cold weather.
reuter | earnings-reports | news | news | medium | {
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} | [
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] | [
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1987-06-18T18:33:11.140000 | [
"gnp"
] | [
"denmark",
"norway",
"france",
"finland",
"sweden",
"iceland"
] | [] | [
"oecd"
] | [] | Oecd says high wage deals harming nordic states | High wage settlements in nordic countries
threaten to cut exports and reduce the international
competitiveness of their industries, the organisation for
economic cooperation and development (oecd) said.
in denmark, the oecd said wage settlements concluded in
early 1987 were likely to contribute to a marked deterioration
in competitiveness. sweden's competitive position was also seen
at risk from accelerating wages.
the oecd predicted that domestic demand would come under
pressure from tight fiscal policy in denmark, as well as
norway, sweden and finland.
overall economic growth will vary in the different
countries between 1986 and 1988, the oecd semi-annual report
said.
after a strong rise of 7.8 pct in 1986, total domestic
demand in norway was seen falling by 1.5 pct in 1987 and one
pct the following year. denmark was also expected to see a
slump in domestic demand. the report said growth in gross
domestic product (gdp) was likely to speed up slightly in
sweden and finland in 1987 and 1988, while declining in denmark
and norway.
iceland needs to try harder to implement its new economic
strategy if any more progress is to be made towards sustained
and balanced non-inflationary growth, the oecd said.
reuter | earnings-reports | news | news | medium | {
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} | [] | [
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1987-06-18T18:34:28.710000 | [
"gnp",
"jobs",
"bop"
] | [
"the-united-states",
"france",
"usa",
"u.s.",
"canada"
] | [
"reagan"
] | [
"oecd",
"congress"
] | [] | Oecd urges action to cut u.s. budget deficit | The united states should take urgent
action to cut its crippling budget deficit, including possible
reductions in non-defense spending, higher taxes and curbs on
growth of the defense budget, the organization for economic
cooperation and development said.
the oecd, in its semi-annual review of the world economy,
said a failure of the reagan administration and congress
quickly to agree on measures to cut the deficit "could seriously
affect confidence, both in the united states and elsewhere."
it predicted that the federal deficit in fiscal 1987,
running until september 30 this year, would substantially
overshoot both the balanced budget act's target of 144 billion
dlrs and official u.s. estimates in february of 175 billion.
"the oecd projection, which is based on assumptions of
slower growth, higher interest rates and actual data for the
first half of the financial year, is for a deficit of about 190
billion dollars," it said.
while this would be 30 billion lower than last year's
deficit, much of the improvement would be due to corporate tax
increases being introduced before income tax cuts take effect.
the u.s. economic growth rate is expected to edge up to
2.75 pct next year from 2.5 pct this year and last.
in contrast to the last two years, more competitive exports
boosted by the fall in the dollar should help gnp growth.
unemployment should continue to fall slowly as the service
sector continues to create jobs. but inflation appears to be
heading higher, partly due to the lower dollar, with consumer
prices forecast to rise four pct this year and 4.5 pct next
year after just 2.1 pct in 1986.
"monetary and fiscal policy appear to be the key factors
behind the avoidance of recession," the report said.
the current account balance of payments deficit is expected
to be still around a high 125 billion dlrs next year, after
hitting a projected record 147.25 billion this year, it said.
in canada economic growth is expected to pick u | policy-news | news | news | medium | {
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1987-06-18T18:39:37.550000 | [
"earn"
] | [
"canada"
] | [] | [
"cts",
"wearhouse-ltd"
] | [] | Mark's work wearhouse <(mww.to> 1st qtr loss | Period ended may 2
shr loss four cts vs loss three cts
net loss 397,000 vs loss 330,000
revs 32.1 mln vs 30.4 mln
note: full name mark's work wearhouse ltd.
reuter | company-deals | news | boilerplate-content | low | {
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1987-06-18T18:40:19.730000 | [] | [
"usa",
"bombay",
"india"
] | [] | [
"playboy-enterprises-inc",
"fashionport-private-ltd-of-india"
] | [] | Playboy gets licensing pact in india | Playboy enterprises inc said its playboy
licensing unit has entered into an agreement with fashionport
private ltd of india to market playboy and playmate fashions
and accessories in india, the middle east and several eastern
bloc countries.
fashionport will produce men's and women's apparel, leather
garments, footwear, small leather goods and accessories, it
said.
fashionport is based in bombay, india. no other details
were available.
reuter | financial-markets | adult | news | low | {
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1987-06-18T18:45:02.670000 | [
"gnp",
"jobs",
"cpi"
] | [
"canada",
"france",
"japan",
"usa",
"u.s.",
"west-germany"
] | [
"david-henderson"
] | [
"oecd",
"economics-and-statistics-department",
"the-oecd's"
] | [] | Joint action said vital to boost world growth | Prospects for world economic growth remain
very sluggish, and coordinated action by western governments is
urgently needed to restore business confidence, stabilize
currencies and encourage investment, the organization for
economic cooperation and development (oecd) said here.
"the economic situation has deteriorated in recent months,
and ... slow growth, high unemployment and large payments
imbalances are likely to persist," it said in one of its
gloomiest reviews of the world economy in recent years.
the gross national product (gnp) of the 24-nation bloc of
western industrialised countries is forecast to grow by only
2.25 pct both this year and next, even slower than last year's
2.5 pct growth rate.
"we would like to see the aggregate for the oecd area
comfortably exceeding three pct," david henderson, head of the
oecd's economics and statistics department, said.
the oecd said that the dollar fall had led to rising
inflation expectations and higher interest rates in the u.s.,
combining with world trade imbalances and the huge third world
debt problem to increase the risks of a world economic
downturn.
"at the same time, many of the conditions for faster growth
remain favorable," it said, citing low inflation in most major
countries, healthy corporate finances, generally lower interest
rates, improvements in state budget positions and more flexible
labor markets.
but private sector confidence had been undermined by
uncertainties over exchange rates, it said, and warned that "for
confidence to be restored, it is important for governments
swiftly to implement internationally-agreed commitments."
this was a clear reference to last february's louvre accord
of the group of five nations plus canada, analysts said.
the oecd said that apparent disagreements among major
countries on implementation of the louvre accord had helped to
undermine business confidence, and called on more active fiscal
policies from the u.s., west germany and japan t | policy-news | news | news | medium | {
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