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1987-10-20 22:53:17
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1987-03-16T04:39:56.060000
[ "sugar" ]
[ "denmark", "netherlands", "france", "uk", "hungary", "spain", "ireland", "west-germany", "sweden" ]
[ "f.-o.-licht" ]
[ "reuter", "ec" ]
[]
European beet plantings seen little changed
European sugar beet plantings are expected to show little change from last year, despite recent firmness in world prices, analysts and industry sources said. a reuter survey of planting intentions showed that while, so far, european community (ec) growers plan unchanged to lower areas, increases are expected in some eastern european nations. trade analysts said their private reports give similar results and do not differ significantly from the first estimate of stagnant 1987 european beet plantings made last week by west german sugar statistician f. o. licht. areas may be slightly lower but analysts and agricultural experts said the steady rise in yields resulting from improved seed varieties and better farming techniques could offset this. in recent years, good autumn weather has given yields a late boost, making up for lower areas despite some disappointing starts to growing seasons. changes in ec areas reflect the extent to which producers will grow so-called "c" sugar for unsubsidised sale to the world market. this is what is produced in excess of the basic area needed to meet the ec "a" and "b" quotas, which receive full and partial price support, respectively. some analysts said the open row that broke out last week between producers and the ec commission over its export policy could have serious implications for future sugar output. beet producers have threatened to effectively dump nearly one mln tonnes of white sugar into ec intervention stocks as they feel export subsidies have been too low to compensate for the gap between high ec internal and low world market prices. however, with the ec budget stretched to breaking point, this could give treasury ministers extra resolve in resisting higher guaranteed sugar prices and build a case for a future cut in the basic "a" and "b" quotas, they added. in france, the largest producer of ec quota and non quota sugar, the sugar market intervention board firs said first planting intenti
business-news
food-and-drink
news
medium
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[ "european", "west-german" ]
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1987-03-16T04:41:19.550000
[ "jobs" ]
[ "switzerland" ]
[]
[]
[]
Swiss unemployment falls to 0.9 pct in february
Swiss unemployment edged down to 0.9 pct of the working population from one pct in january and in february 1986, the federal office of industry, trade and labour said. seasonally adjusted, however, there was a slight rise in unemployment. the number out of work fell to 28,439, down 1,142 compared with the previous month. the number of vacant positions registered with employment offices stood at 11,968 against 10,694 in january. reuter
earnings-reports
news
news
medium
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[ "swiss" ]
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1987-03-16T04:44:55.800000
[ "reserves" ]
[ "malaysia" ]
[]
[ "bank-negara-malaysia" ]
[]
Malaysia's gold and foreign exchange reserves rise
Malaysia's gold and foreign exchange reserves rose to 16.07 billion ringgit in february from 15.73 billion in january and 12.23 billion in february 1986, bank negara malaysia said. the central bank said cumulative assets at end-february fell to 20.02 billion ringgit from 20.68 billion at end-january but were up from 17.07 billion at end-february last year. holdings of federal government securities dropped to 876 mln ringgit in february from 1.70 billion a month earlier and 2.30 billion in february 1986. malaysia's special drawing rights rose to 355 mln ringgit at end-february from 352 mln at end-january and 286 mln at end-february 1986, the bank said. the imf position was unchanged from january at 507 mln but was above the 422 mln in february a year ago. currency in circulation in february fell to 7.43 billion ringgit from 8.32 billion a month earlier but was up from 7.18 billion in february last year. reuter
earnings-reports
finance
news
medium
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1987-03-16T04:46:35.820000
[]
[ "u.s", "london", "new-york", "n.a.", "japan", "u.s.", "the-united-states", "tokyo" ]
[ "glass", "robert-binney", "eugene-atkinson", "binney" ]
[ "japan)-corp", "goldman-sachs", "binney", "chase-manhattan-bank", "atkinson" ]
[]
U.s. banker urges faster japanese liberalisation
Japan should step up the pace of its financial liberalisation if it wants to become a world financial centre equal to new york or london, a leading u.s banker said. "for tokyo to become the third link in an international capital markets triangle, it will need to create an environment more hospitable to international finance than currently exists," robert binney, senior vice-president of chase manhattan bank n.a., told a group of japanese members of parliament and financial leaders. binney said japan must liberalise its financial markets not just to attract more jobs, capital and taxable income, but also to recycle effectively its vast trade surpluses to help counter growing protectionism in the united states. he called on japan to remove all controls on deposit interest rates soon and to remove obstacles to the growth of its offshore market. he also said it should fully deregulate its short-term money markets, develop comprehensive futures markets, further open the tokyo stock exchange to foreign membership and remove fixed rate brokerage commissions. binney also urged japan to abolish article 25 of its securities and exchange law which, like the u.s. glass steagall act, separates commercial from investment banking. at the same meeting goldman sachs (japan) corp president eugene atkinson urged japan to fully de-regulate short-term interest rates, introduce commercial paper and open long-term government bond markets to an auction system. he said japan should allow securities firms to participate in foreign exchange business and develop over-the-counter stock options and futures. short-selling of japanese government cash bonds was a vital hedging mechanism, he added. the group of some 60 japanese legislators and financial leaders which atkinson and binney addressed was recently formed to study ways in which japan should promote liberalisation of its financial markets. "we should not leave such matters solely to government bureaucrats,"
policy-news
finance
news
medium
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[ "japanese" ]
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1987-03-16T04:52:38.280000
[ "veg-oil", "palm-oil" ]
[ "malaysia" ]
[]
[ "cpo" ]
[]
Malaysian crude palm oil output falls in february
Malaysian crude palm oil (cpo) production fell to an estimated 270,400 tonnes in february from an estimated 273,300 tonnes in january and 332,995 in february 1986, the palm oil registration and licensing authority (porla) said. cpo stocks fell to an estimated 286,440 tonnes in february from 287,940 in january and 653,411 in february last year. processed palm oil stocks in february fell to an estimated 193,060 tonnes from 205,060 in january and 225,576 in february 1986. the january and february figures are subject to revision. reuter
earnings-reports
business-and-industrial
news
medium
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[ "malaysian" ]
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1987-03-16T04:54:47.430000
[ "earn" ]
[ "uk" ]
[ "bracken-house" ]
[ "div" ]
[]
Pearson plc yr ended dec 31
Shr 37.4p vs 30p. final div 7p, making 12p vs 10p. pre-tax profit 121.1 mln stg vs 109.3 mln. net profit before minorities 76.6 mln stg vs 62.8 mln. turnover 952.6 mln vs 970.1 mln. pre-interest profit 132.1 mln vs 124.6 mln. net interest 11 mln vs 15.3 mln. tax 44.5 mln vs 46.5 mln. minority interests 3.1 mln vs 5.2 mln. extraordinary debit 9.1 mln vs credit 11.5 mln. note - extraordinary debit reflected full provision for discontinuing the financial times's printing operations at bracken house in 1988, partly offset by gains on disposals. reuter
earnings-reports
news
news
low
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1987-03-16T04:55:35.620000
[ "trade" ]
[ "china" ]
[]
[ "the-state-statistics-bureau", "china-news-agency" ]
[]
China reports 700 mln dlr two-month trade deficit
China's trade deficit totalled 700 mln dlrs in the first two months of this year, according to figures released by the state statistics bureau. the new china news agency quoted the bureau as saying foreign trade totalled 9.3 billion dlrs in the period, of which exports were worth 4.3 billion dlrs. the bureau said total trade volume was up 2.5 pct on the same 1986 period, with exports up 18.1 pct, but it gave no other comparative figures. china's 1986 trade deficit totalled 12 billion dlrs, official figures show. reuter
earnings-reports
news
news
medium
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1987-03-16T04:56:40.700000
[]
[ "helsinki", "finland" ]
[ "kalevi" ]
[]
[]
Polls predict swing to right in finnish election
Finns cast their final votes in two-day general elections today with opinion polls predicting a swing to the right which would bring the conservatives back into government after 21 years in the political wilderness. turnout on the first day yesterday, about five pct lower than in 1983 polls, was lowest in leftist strongholds around the capital helsinki, electoral officials said today. finnish media said this supported pre-election opinion polls predicting falling among voters for the social democratic party of prime minister kalevi sorsa. several days of inter-party bargaining are expected before a new government emerges. reuter
business-news
news
news
medium
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[ "finns", "finnish" ]
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1987-03-16T04:57:01.340000
[ "earn" ]
[ "france", "paris" ]
[]
[]
[]
offers par rights issue
French machinery maker , 40 pct owned by , said it will raise its capital to 791 mln francs from 91 mln by a 100 for 13 rights offering to shareholders priced at par of 10 francs a share. the offer, between march 25 and april 13, is the second stage of a capital restructuring plan announced in december under which tenneco will become poclain's majority shareholder. in the first stage poclain reduced its capital to 91 mln from 455 mln by reducing the nominal value of its shares to 10 francs from 50. poclain traded friday on the paris bourse at 38.20 francs. reuter
payment-notices
news
news
medium
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[ "french" ]
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1987-03-16T04:58:09.180000
[ "money-fx" ]
[ "uk" ]
[]
[ "exchequer", "treasury" ]
[]
U.k. money market offered early assistance
The bank of england said it invited an early round of bill offers from discount houses after forecasting a shortage in the system of some 1.05 billion stg. among the main factors affecting liquidity, bills maturing in official hands and treasury bill take-up will drain some 1.07 billion stg while exchequer transactions will take out around 335 mln stg and bankers' balances below target five mln stg. partly offseting these outflows, a fall in note circulation will add some 355 mln stg to the system today. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T04:58:17.320000
[]
[ "china", "canton", "guangdong-province", "hong-kong" ]
[]
[ "pro-peking" ]
[]
South china storms kill two, damage crops
Hailstorms and strong winds in south china killed two people, injured 20 and damaged an undisclosed amount of crops, a hong kong newspaper reported. the pro-peking new evening post said in a report from canton that more than 50 houses collapsed when the storms swept across five counties in south-western guangdong province. it said the crops were damaged over a five-day period ended yesterday. it gave no other details. reuter
business-news
sensitive-subjects
news
medium
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[]
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1987-03-16T04:58:31.590000
[]
[ "los", "netherlands", "u.s." ]
[ "philip-menco" ]
[ "dutch-stock", "the-amsterdam-stock-exchange", "pierson", "the-dutch-stockmarket", "bank-cln-oyens-en-van-eeghen.", "arjen-los" ]
[ "ase" ]
Economic spotlight - dutch share prospects mixed
While world exchanges revel in a continuing securities boom, the dutch stockmarket remains lacklustre despite a series of largely positive annual corporate results and signs of a more stable dollar, analysts said. prices and turnover on the amsterdam stock exchange have sprung back from lows reached when the dollar dipped below the two guilder mark in january. but market analysts say only lower interest rates or a further rise in the dollar, now trading at around 2.09 guilders, could keep the momentum going. "between end-1982 and end-1986 dutch stocks rose by around 150 pct, but the dollar's sharp fall last year put the brake on the bull market," said philip menco, analyst with bank cln oyens en van eeghen. the dollar's current level compares with an average in 1986 of 2.45 guilders, and 3.35 in 1985, official figures show. but arjen los, analyst with dutch merchant bank pierson, heldring en pierson, sees room for some optimism, "the market is exaggerating the whole dollar affair. we've seen the bottom of its decline. but what is lacking is a stimulus on the interest rate front," he said. analysts said they expected little impact from provincial elections on wednesday as the government's position was secure. "the scope for price rises in dutch shares is narrow, given the limited room for lower interest rates," said los, adding the dutch market can currently only dream of returns of around 15 pct seen in rising markets elsewhere in europe. "when the dollar slumped in the second half of 1986, u.s. and u.k investors were heavy sellers of dutch stock. they made an enormous currency gain," menco said. finance ministry figures show foreign investment in dutch stock last year fell by nearly half to 4.2 billion guilders. los envisaged no significant revival of foreign interest in the dutch market. he saw the large, liquid dutch pension funds pursuing a more aggressive portfolio management policy while continuing to invest in markets wi
earnings-reports
finance
news
medium
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[ "dutch" ]
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1987-03-16T04:58:51.720000
[ "acq" ]
[ "san-miguel", "new-york", "philippines" ]
[ "diaz", "andres-soriano", "alan-bond", "ramon-diaz" ]
[ "san-miguel", "ixl-ltd", "reuters", "allen-and-co-inc", "smc" ]
[]
Manila government to take over san miguel board
A government commission that controls 51 pct of (smc) stock will increase its nominees on the firm's 15-member board to nine from six. "we want to correct business practices," ramon diaz, chairman of the presidential commission on good government (pcgg), told reuters. "right now there are a lot of companies that keep so many things from their shareholders and one of them is san miguel," he said. a san miguel spokesman declined comment. diaz said new york investment bank allen and co inc told the pcgg it was interested in tendering for all outstanding smc stock, with the subsequent dispersal of 60 pct of the stock to filipino investors to comply with investment laws. he said australian businessman and brewer alan bond and the brewing company elders ixl ltd were interested in buying 40 pct each of smc stock. he added that the pcgg wanted some foreign input but would not allow foreign control of the brewing and food conglomerate, the philippines' biggest manufacturing concern. diaz said the pcgg did not plan to remove smc president andres soriano from his family company. "he has tremendous prestige to run the company," diaz said. "we appreciate his management, but certainly some practices have to be corrected." reuter
payment-notices
news
news
medium
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[ "filipino", "australian" ]
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1987-03-16T05:07:11.440000
[]
[ "argentina", "knox" ]
[ "david-knox" ]
[ "worldbank", "knox" ]
[]
World bank vice-president praises argentine plans
World bank vice-president david knox said the bank was eager to finance argentine plans to stimulate growth and that he was urging private banks to grant new loans to the country. knox said in an interview with the local daily la nacion yesterday that argentina's current economic policies contained key elements to stimulate growth and the world bank was very interested in financing its growth. "we are encouraging creditor banks to grant new loans to make argentine growth possible," said knox, who arrived in argentina last thursday. reuter
policy-news
finance
news
medium
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[ "argentine" ]
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1987-03-16T05:10:58.720000
[ "earn" ]
[ "france" ]
[]
[ "cie-financiere-de-paribas", "cie-bancaire" ]
[]
Cie bancaire in one-for-five bonus share issue
, a subsidiary of recently privatised banking group cie financiere de paribas , said it is issuing 2.35 mln new 100 francs nominal shares on the basis of one for five already held. the operation will begin on march 31, a spokesman said. cie bancaire also said it has increased its capital to 1.41 billion francs from 1.17 billion by the incorporation of 237.74 mln francs of reserves. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T05:11:41.070000
[]
[ "japan" ]
[]
[ "nec-corp", "seiko-epson", "nec", "ibm" ]
[]
Japan's nec threatens legal action against seiko
Nec corp may take legal action to halt introduction of 's nec-compatible personal computer series, which nec alleges infringes copyrights for nec's 9801 v computer series, an nec official said. "we may have no choice but to take legal action," the nec official said. a seiko epson official said the company's pc 286 series, the first nec-compatible personal computer, does not infringe on nec copyrights. he said the company intends to go ahead with plans to market the computers from late april. a seiko epson official said of the new machine, "it's compatible with nec's machine, so it appears similar. but our intention was to develop an original machine." industry analysts said nec controls about 70 pct of the domestic personal computer market. they said introduction of nec-compatible machines could start a price war and cut nec's profits, as happened to ibm following the introduction of ibm-compatible machines. reuter
financial-markets
computers-and-electronics
news
low
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[]
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1987-03-16T05:13:28.510000
[]
[ "london", "geneva", "zurich", "switzerland", "frankfurt" ]
[ "philippe-bollag", "rudolf-mueller" ]
[ "union-bank" ]
[]
Economic spotlight - swiss options and futures
Preparations for the launch of a swiss options and futures exchange, billed as the first completely electronic market of its kind, are at an advanced stage, according to members of the project team. the swiss options and financial futures exchange (soffex) is a new departure in that it will introduce an additional range of financial instruments and electronic trading methods to the traditionally conservative swiss market. there will be no physical exchange floor and both trading and clearing systems will be completely automated. the new market, due to start operating in january 1988, follows a series of innovations by the bourses in zurich, basle and geneva aimed at preventing loss of business in the face of keen competition from london and frankfurt. these innovations included the introduction last october of continuous trading in major shares, plans to establish a single continuously updated swiss share index from next month to supplement the various indices produced by the major banks at the close of business, and experiments in electronic trading. banks themselves last year took the initiative of launching covered warrants on the shares of other swiss companies. "if switzerland wants to maintain and expand its international prominence in portfolio management, our bankers and fund managers must have the same modern instruments at their disposal as their competitors," says soffex president rudolf mueller, a director of union bank of switzerland. the computer terminals on which business will be conducted will be confined to switzerland. it is still unclear how many swiss-based institutions will seek membership of the exchange. formal applications are not due until next month but a preliminary survey completed by the soffex project team this week showed strong interest in membership. "the response from both swiss and foreign institutions all over the country has been very encouraging," says philippe bollag of the project team.
industry-news
finance
news
medium
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[ "swiss", "basle" ]
[ -0.11856924, 0.0104938485, 0.0125584332, 0.0335595533, 0.0302333701, 0.0014211823, -0.0438671522, 0.0366494432, 0.048655308800000005, -0.0251375623, 0.0098919077, -0.0201988872, 0.031402666100000004, -0.0171398986, -0.048500083400000005, 0.0078048552, -0.0064546862, -0.013647867400...
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1987-03-16T05:16:48.450000
[ "cpi" ]
[ "israel" ]
[]
[ "the-central-bureau-of-statistics" ]
[]
Israeli inflation rate is 1.0 pct in february
Israel's inflation rate for february was one pct, compared to 2.1 pct in january and 1.6 pct in february 1986, a spokesman for the central bureau of statistics said. inflation for the 12 months ending in february was 23 pct, the spokesman said. february price rises were mostly in housing, health, education, entertainment and transport. wage and price controls have been in force since august 1985. officials said the controls have helped soften the effect of a recent 10 pct devaluation of the shekel. reuter
earnings-reports
news
news
medium
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[]
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1987-03-16T05:17:33.070000
[ "money-fx", "interest" ]
[ "uk" ]
[]
[]
[]
U.k. money market given 90 mln stg early help
The bank of england said it provided the money market with assistance worth 90 mln stg in response to an early round of bill offers from discount houses. earlier, the bank estimated the shortage in the system today at some 1.05 billion stg. the bank bought bills for resale to the market in equal amounts on april 1, 2 and 3 at an interest rate of 10-7/16 pct. reuter
industry-news
finance
news
medium
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[]
[ -0.1215988696, 0.06384172290000001, 0.0106688188, 0.029529972, 0.0556970164, 0.0298786014, -0.011628381, 0.0321348011, -0.0441907421, 0.0054565044, 0.0118221855, -0.026228714700000003, 0.0507134609, 0.012849546000000002, -0.0325682424, 0.014097835900000001, 0.0584225245, -0.0330517...
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1987-03-16T05:18:09.730000
[]
[ "new-york", "manila", "philippines" ]
[ "ongpin", "corazon-aquino", "jaime-ongpin", "craig-nalen" ]
[ "philippine-capital-fund", "the-world-bank", "the-international-finance-corp" ]
[]
Philippine capital fund planned, ongpin says
A 250 mln dlr philippine capital fund will be launched shortly to encourage private sector investment, finance secretary jaime ongpin said in a report to president corazon aquino on his first year in office. the first philippine capital fund will be launched jointly by new york investment house and the international finance corp, an affiliate of the world bank, ongpin said. he gave no date for the launch. ongpin said the implementation of the fund had been delayed by his government's negotiations to reschedule about 9.4 billion dlrs of its 27.8 billion dlr foreign debt. craig nalen, president of a u.s.-government backed overseas private investment corp mission which visited manila in february, told reporters at the time the capital fund would amount to at least 100 mln dlrs. ongpin proposed the 250 mln dlr fund during a trip to the united states last september. his plan called on private investors to raise funds to buy discounted obligations of philippine borrowers from creditors and convert them to equity in local projects. reuter
industry-news
finance
news
medium
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[ "philippine" ]
[ -0.15148817, 0.0376851074, 0.0196640696, 0.0013568281, -0.028263108800000002, -0.0027290271000000002, -0.0787886456, -0.0052580312, -0.0071575488, 0.0080634542, 0.0267675817, 0.010480916100000001, 0.025646677200000002, -0.0184314065, 0.0011402855, -0.0197732709, 0.0664852858, -0.04...
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1987-03-16T05:27:27.810000
[ "acq" ]
[ "hong-kong", "hong-kong's", "hongkong" ]
[]
[ "sino-land-co-ltd", "bond-corp", "hk-tvb-ltd", "bond-corp-holdings-ltd", "shaw", "hongkong-land-co-ltd", "hk-tvb" ]
[]
Bond defers rights issue, mulls project partners
, a subsidiary of the australian-based bond corp holdings ltd , said it would defer its planned rights issue but still wants the issue to be made before july 31. no date has been set for the issue, announced in january. in a document to shareholders, bond corp said the delay follows its receipt of a 240 mln h.k. dlr loan from its parent company to meet the first payment on the newly acquired bond centre commercial complex in central hong kong. it also wants outside partners to take up to 50 pct in the project, the company said. the january announcement said the rights issue would finance bond corp's 1.4 billion dlr acquisition of a 23.77 pct stake in hk-tvb ltd from film magnate run run shaw. the company then reached an agreement with a consortium led by sino land co ltd to buy a commercial complex that is still under construction for 1.9 billion dlrs. bond international said in the document that except for the 240 mln dlr loan, the deal would be financed from internal resources and by selling an interest in the building. the payments must be completed by the end of 1987. bond international has also sold several residential buildings in hong kong's mid-levels district for a total of 68.35 mln dlrs, the statement said. the flats were among the properties it bought last year from hongkong land co ltd for 1.4 billion dlrs. analysts said bond international is heavily geared as it has relied on bank borrowings to purchase both the hongkong land properties and the hk-tvb shares. bond international also said in the document that while it plans to sell an interest in the complex it will hold the hk-tvb shares as a long-term investment. reuter
industry-news
news
news
medium
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[ "australian" ]
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1987-03-16T05:29:06.580000
[ "interest" ]
[ "philippines" ]
[ "jaime-ongpin", "corazon-aquino", "ongpin", "ferdinand-marcos", "aquino" ]
[ "finance", "treasury", "oda" ]
[]
Philippines sees 1987 government revenue up 26 pct
Philippine government revenue is expected to rise 26 pct to 99.9 billion pesos this year from 79.1 billion in 1986, finance secretary jaime ongpin said. in a report to president corazon aquino on his department's performance during the year ended february 28, ongpin said at least 15.9 billion pesos were expected to accrue from new tax reform measures announced last year. he said the goal for official development assistance (oda) this year is two billion dlrs, adding that aid donors have committed oda inflows of 1.7 billion dlrs in 1987, up 30 pct from 1.3 billion in 1986. ongpin said steps planned to provide a sound revenue base included a value added tax (vat) system due to be introduced in 1988. he gave no other details. he said treasury bill maturities, interest rate levels and the volume of government securities sold to the private sector have improved significantly. "in particular, short-term prime interest rates which had gone over 40 pct in 1985, are now down to less than 10 pct," he said. ongpin said the government's debt-equity scheme, introduced in august last year, had attracted more than 276 mln dlrs worth of applications, but selective evaluation had resulted in approvals of only 61.8 mln dlrs at end-february. he said his department aims to accelerate its privatisation program and the sale of non-performing assets owned by associates of former president ferdinand marcos to achieve a 1987 sales target of four billion pesos which would help finance land reform. aquino said earlier this month that all the 24 billion pesos the government hopes to raise from the sale of the failed companies will be used to finance the land reform plan. ongpin also said the government would pursue efforts to obtain 500 mln dlrs in concessional funding for the program from a world bank-led consultative group of multilateral and bilateral aid donors. the government has said the land reform plan aims to distribute 9.7 mln hectares of land to p
earnings-reports
law-and-government
news
medium
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[ "philippine" ]
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1987-03-16T05:29:24.370000
[ "trade" ]
[ "norway" ]
[]
[]
[]
Norway's trade deficit widens in february
Norway's trade deficit widened in february to 957 mln crowns from 80 mln crowns in january and 492 mln crowns in february last year, the central bureau of statistics said. exports dropped to 10.66 billion crowns last month, compared with 11.11 billion in january and 10.85 billion in february 1986, it added. crude oil and natural gas exports totalled 4.56 billion crowns in february, against 5.10 billion in january and 5.36 billion a year ago. reuter
earnings-reports
news
news
medium
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[]
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1987-03-16T05:29:40.590000
[ "interest" ]
[ "uae" ]
[]
[ "the-united-arab-emirates-central-bank" ]
[]
Uae government paper yields unchanged
Yields on certificates of deposit issued by the united arab emirates central bank were unchanged at 6-1/8 pct, the bank said. the yield applies to maturities of one, two, three and six months. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T05:29:51.320000
[ "cpi" ]
[ "netherlands" ]
[]
[ "the-ministry", "the-economics-ministry" ]
[]
Dutch cost of living falls 1.2 pct in february
The dutch cost of living index (base 1980) fell 1.2 pct to 121.5 in the year to mid-february after a 1.3 pct fall in the year to mid-january 1987, the economics ministry said. the february index was 0.2 pct up on january. clothing, shoe and vegetable prices rose in february while prices of coffee, heating oil and most car fuels fell, the ministry added. reuter
earnings-reports
news
news
medium
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[ "dutch" ]
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1987-03-16T05:31:16.310000
[]
[ "helaba", "luxembourg", "west-germany's" ]
[ "hessische" ]
[ "banque-paribas", "banque-generale-du-luxembourg", "kredietbank-sa-luxembourgeoise", "landesbank-international", "landesbank-girozentral-reuter", "banque-de-luxembourg-sa", "the-management-group" ]
[]
Helaba unit issues luxembourg franc placement
Helaba luxembourg hessische landesbank international has issued a 300 mln luxembourg franc, seven-year private placement with a coupon of 7.5 pct and priced at par, lead manager banque generale du luxembourg said. a spokesman said the issue had already been placed in full. fees total 1-3/4 pct, with 1-1/2 pct for co-managers. the management group includes banque paribas (luxembourg), kredietbank sa luxembourgeoise and banque de luxembourg sa. the borrower is an affiliate of west germany's hessische landesbank girozentral reuter
industry-news
finance
news
medium
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[]
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1987-03-16T05:31:50.700000
[ "ipi" ]
[ "sweden" ]
[]
[]
[]
Swedish industrial production falls in january
Sweden's industrial production fell 1.8 pct during january compared with a fall of 0.8 pct the month before and remains unchanged compared with january 1986, according to figures from the central bureau of statistics. the bureau attributed the fall to a long christmas break and particularly cold weather, which lowered production in the forestry industry. reuter
earnings-reports
news
news
medium
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[]
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1987-03-16T05:32:07.200000
[ "money-fx", "interest" ]
[ "west-germany" ]
[]
[ "bundesbank", "minimum-reserve-holdings" ]
[]
Bundesbank adds money market liquidity
The bundesbank came into the domestic money market to add temporary liquidity through federal government funds as call money rates rose above 4.0 pct, dealers said. they estimated that the bulk of liquidity was added at about 3.95 pct. call money fell to 3.90/4.0 pct after the move. it had been 3.80/90 on friday. the move came as call money extended a rise begun friday after the bundesbank took up some six billion marks owed to it by other european central banks after currency interventions in the framework of european monetary system in january. rates could ease further in trading today but dealers expect them to rise later in the week as banks begin paying out funds for tax payments on behalf of clients. some 30 billion marks is likely to leave the market this month, with the bulk being paid out next week. in anticipation of this liquidity drain, banks have stocked up reserves at the bundesbank. on thursday, minimum reserve holdings declined to 57.0 billion marks from 60.0 billion on wednesday but were well above the 53.2 billion held on tuesday. daily average reserve holdings rose slightly to 54.7 billion marks from 54.5 billion. the daily average reserve holdings were above the level of around 51 billion marks dealers said is needed for the required daily average for the month. with the heavy tax drain in march, banks are likely to remain cautious about taking more liquidity out of reserves than is absolutely necessary. however, a new securities repurchase pact likely to be added next week to replace a facility expiring then could somewhat offset the drain. the bundesbank is expected to allocate more than the 3.4 billion marks which is due to be rolled over, dealers said. reuter
industry-news
finance
news
medium
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[ "european" ]
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1987-03-16T05:34:24.090000
[]
[ "usa", "kentucky", "u.s.", "japan" ]
[]
[ "general-motors-corp's", "reuters", "nippondenso-co-ltd", "toyota-motor-corp", "aisin-seiki-co-ltd.", "gm", "toyota-motor-manufacturing-usa-inc", "toyota", "illinois-tool-works-inc" ]
[]
Toyota likely to name american firms as suppliers
Toyota motor corp is likely to name more american companies as suppliers of car parts for its wholly-owned u.s. subsidiary toyota motor manufacturing usa inc (tmm), a toyota official told reuters. toyota is studying the use of general motors corp's gm delco products as a supplier of motors for windshield wipers and illinois tool works inc for window handles, he said. another u.s. firm may be used to supply radiator tanks. toyota had originally planned to use two japanese companies to supply the parts, nippondenso co ltd and aisin seiki co ltd. toyota is also considering some other u.s. firms as suppliers, but the spokesman declined to name them. cars produced at toyota's kentucky plant will consist of 60 pct local content, instead of an earlier planned 50 pct, he said. the plant is scheduled to start production in mid-1988 and have an annual capacity of 200,000 cars. industry sources said the toyota move was designed to head off criticism that it was not using enough u.s. company-made parts at its kentucky plant. reuter
financial-markets
autos-and-vehicles
news
medium
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[ "japanese", "american" ]
[ -0.1297124922, 0.0166078825, 0.0215696208, 0.059107229100000006, 0.0262488313, 0.0673893914, -0.0263056271, 0.0524922572, 0.005141662, -0.033294227, 0.039808057200000004, -0.0200883094, 0.0318975523, -0.0352046862, -0.0102852229, -0.007677653800000001, 0.0420219041, 0.0175544601000...
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1987-03-16T05:35:28.300000
[ "alum" ]
[ "france", "the-soviet-union", "ussr" ]
[]
[ "pechiney" ]
[]
Pechiney signs letters of intent with soviet union
Pechiney said it signed two letters of intent with the soviet union covering the setting up of packaging and packaging materials joint ventures. it said one proposed venture would produce aluminium packaging for food and cosmetics. the other envisaged pechiney putting together a consortium of european partners to set up a packaging and equipment manufacturing unit in the soviet union. a pechiney spokesman said two working groups would prepare detailed projects over the next three months. he said it was too soon to estimate the financial value of the two ventures. reuter
financial-markets
business-and-industrial
news
medium
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[ "european" ]
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1987-03-16T05:36:21.970000
[ "crude" ]
[ "opec", "turkey", "baghdad", "ecuador", "tripoli", "iraq", "cyprus", "libya", "kuwait", "saudi-arabia" ]
[ "hisham-nazer" ]
[ "opec", "mees", "the-television-news-agency", "reuters" ]
[]
Mees says second week march opec output 14 mln bpd
Opec produced only about 14 mln bpd of oil in the second week of march -- 1.8 mln bpd below its ceiling -- largely because of pipeline problems in turkey and ecuador, the middle east economic survey (mees) estimated. a landslide breached iraq's one mln bpd pipeline through turkey on march 6 for a week, and earthquakes in ecuador have shut down its export pipeline for four to five months. ecuador has an opec quota of 210,000 bpd. mees put saudi arabian output at 2.9 mln bpd in the first week of march and 3.1 mln bpd in the second, in addition to output from the neutral zone between saudi arabia and kuwait. mees said saudi arabia was pumping more than 300,000 bpd of its total production into floating storage. saudi oil minister hisham nazer told reuters and the television news agency visnews yesterday that saudi output, including neutral zone production, was around three mln bpd. the cyprus-based newsletter also said authoritative libyan oil sources said libya was producing 850,000 bpd, compared with its 948,000 bpd quota, and that actual liftings are much lower than that. it said one major libyan equity producer had partially stopped lifting its 55,000 bpd equity entitlement for march because libya was insisting on official prices, but is still lifting 40,000 bpd of debt crude at official prices and a further 25,000 bpd of "purchase crude." it said small equity producers, with entitlements of only 2,000 to 3,000 bpd, had also told tripoli they could not lift at official prices. mees said iraq had sent a telex to opec and member countries calling for the formation of a committee to study what it said were inequalities in marketing potential among various members. the newsletter said the iraqi letter indicated baghdad was having difficulty selling crude at official prices. the iraqi telex pointed out that some member countries export substantial volumes of oil that are not subject to opec price regulations -- exports of refined p
business-news
business-and-industrial
news
medium
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[ "saudi-arabian", "libyan", "iraqi", "saudi" ]
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1987-03-16T05:44:13.850000
[ "cpi" ]
[ "finland" ]
[]
[]
[]
Finnish inflation falls to 3.5 pct in february
Year-on year finnish consumer prices fell to 3.5 pct in february 1986 from 3.7 pct in january and 4.6 pct in february 1985, the central statistical office said. consumer prices rose 0.3 pct in february after rises of one pct in january and 0.5 pct in february 1985. the consumer price index, base 1981, was 142.7 in february, 142.2 in january and 137.8 in february 1986. reuter
earnings-reports
news
news
medium
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[ "finnish" ]
[ -0.1172598973, 0.0082089603, 0.0380370207, 0.0289057661, 0.06928103420000001, 0.0498867296, -0.0149550885, 0.012257908500000001, 0.044717744000000004, -0.0479073413, -0.0260084849, -0.0479363874, -0.0375664942, -0.0303276889, 0.0013457662, -0.0358893052, 0.0521331131, -0.0510893688...
[ -0.0759032667, -0.029949527200000003, -0.0156889856, 0.007286794, 0.046649295800000004, 0.0350736231, -0.023699088, 0.0100519843, 0.0719867274, -0.0264633596, 0.0302349776, -0.0416347533, 0.0026200349, -0.0136452084, -0.0101676434, -0.0581731237, 0.0656564683, 0.004716991, 0.0206...
1987-03-16T05:53:06.030000
[]
[ "france" ]
[]
[ "electricite-de-france" ]
[]
Alsthom plans electrical equipment job cuts
Engineering group alsthom said it planned to slash 420 jobs this year from the 5,000 strong workforce in its electrical equipment division. details of the proposed staff reductions will be put to labour representatives at a meeting on march 19. company officials said the cuts were needed to adjust to a drop in orders from french state utility electricite de france and the cancellation or postponement of unspecified export contracts. reuter
financial-markets
news
news
medium
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[ "french" ]
[ -0.1419294775, 0.0190911777, 0.0511190817, -0.0239337236, -0.0273990799, 0.0574700162, 0.0688395277, 0.0175656807, 0.0441914387, -0.0008649823, -0.0452254824, -0.0889920369, 0.0632407069, -0.0176088624, 0.0050059231, 0.0010408283, 0.0581427142, 0.009298556500000001, 0.0049718074,...
[ -0.09957859670000001, 0.0045293937, 0.07239377500000001, -0.0093949223, 0.011668963400000001, 0.0228275899, 0.049859207100000004, 0.0305899549, 0.0103136832, -0.0088415788, 0.0022968678, -0.0698902458, 0.054836776100000005, 0.022390272500000002, -0.0209457204, -0.0146252289, 0.023770...
1987-03-16T06:03:49.890000
[]
[ "usa", "the-united-states", "u.s.", "japan" ]
[]
[ "bridgestone-corp", "bridgestone" ]
[]
Bridgestone and clevite in car parts venture
Bridgestone corp said it and of the united states will launch a joint venture in the u.s. to produce parts for car engines. the joint firm is to have a capital of 40 mln dlrs and will produce rubber for cushioning car engines from vibration. launch date for the company, be owned 51 pct by clevite and 49 pct by bridgestone, is to be in june. reuter
financial-markets
autos-and-vehicles
news
medium
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[]
[ -0.147619158, -0.0024533446000000003, 0.0284753609, 0.0116762845, 0.016768522600000002, 0.0348032713, -0.0487550423, 0.0253592283, 0.0318778232, -0.013938088000000001, 0.0004237545, -0.0348035805, 0.054899748400000004, -0.0029051383, 0.0113100791, 0.0104809059, -0.0326117463, 0.018...
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1987-03-16T06:04:38.370000
[]
[ "france" ]
[]
[ "cm-italia's", "club-mediterranee" ]
[]
Club med asks shareholder approval for capital increase
Club mediterranee said it planned a 150 mln franc increase in its authorised capital to 388.11 mln francs from the present 238.11 mln. shareholders approval would be sought at an extraordinary meeting on april 16. the meeting would also be asked to approve a merger of two italian subsidiaries, and . this would realise a capital gain on cm italia's assets,the amount of which would be determined by exchange rates ruling on the effective date of the merger, a company announcement said. reuter
industry-news
news
news
low
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[ "italian" ]
[ -0.13130827250000002, 0.013398765600000001, 0.0008183208, 0.0271578804, -0.026715606500000003, -0.0119348597, -0.053994856800000005, 0.017136683700000002, -0.0150137115, -0.0471989363, 0.015158431600000001, -0.0580059886, 0.0224610418, 0.0055430564, 0.0309323352, 0.050556805, 0.01739...
[ -0.0639079958, 0.0258814953, 0.009483678300000001, 0.014811264400000001, -0.0343319923, -0.0156704951, -0.0178296845, 0.026960345, 0.030631247900000002, -0.034585125700000004, 0.0021811759, -0.0553406179, 0.0137542384, 0.06800825890000001, -0.0140660629, 0.006620926300000001, 0.03899...
1987-03-16T06:05:32.740000
[]
[ "japan" ]
[]
[ "the-national-tax-administration-agency", "the-finance-ministry", "bankers" ]
[]
Japan banks face big losses on perpetual floaters
Japanese banks may have to realize significant losses on their seven billion dlrs in perpetual floating rate notes after the recent collapse of the market, bankers said. how much of a loss is realized in the current fiscal year ending march 31 depends on the accounting treatment recommended by the finance ministry. ministry sources said the ministry has yet to decide what guidance to give japanese banks in valuing the perpetual floating rate notes they hold. the notes are held by japanese city, trust, long-term and regional banks, including their overseas branches. roughly half of the japanese banks assess foreign asset portfolios on the basis of current market prices while the others assess them at either the acquisition cost or the current market price, whichever is lower, bankers said. with the market for such perpetuals non-existent, finance ministry officials questioned the propriety of using nominal quotations supplied by the notes' lead managers to determine bank book losses. the ministry is currently awaiting a legal judgement by the national tax administration agency on the propriety of using such quotations, one official said. banks using current market prices alone to value their holdings can avoid realizing losses now because they can argue that the market is non-existent and hope for a recovery next year, bankers said. but those banks who use acquisition cost to value foreign portfolios cannot look to the market, bankers said. the acquisition cost is obviously higher than the market price, whatever it may be, these banks must realize losses in the current fiscal year. reuter
industry-news
finance
news
medium
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[ "japanese" ]
[ -0.1300683916, 0.0048190667, 0.0312326029, 0.044621896, 0.0507549755, 0.0040380228, -0.060459852200000004, 0.0263905954, 0.025800176, 0.0288855322, -0.0023926278, 0.0151990326, -0.0034800742, -0.0094545186, -0.011333142400000001, -0.0342919752, 0.0023024571, -0.0858752504, 0.0274...
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1987-03-16T06:15:07.580000
[ "earn" ]
[ "london", "japan", "china", "uk", "u.s.", "britain" ]
[]
[ "pearson", "doulton-ltd", "pearson-plc", "fairey-engineering-companies", "camco-inc-oil-service" ]
[]
Pearson concentrates on four sectors
Pearson plc said the recent sale of its fairey engineering companies, in a 51.5 mln stg management buy-out, was part of its policy of concentrating on four key sectors. in a statement with its 1986 results, the company said its information and entertainments sector's financial times, ft, newspaper had record sales and profits. the ft is subject to a 70 mln stg investment programme, with the printing and publishing operation moving to a new plant in the london docklands next year. its other key sectors are merchant banking, oil and china. commenting on its camco inc oil service subsidiary, pearson said it believes the oil business setback is only temporary. the group has been acquiring oil properties in both the u.s. and britain which will begin to make a significant impact on profits in the 1990s. far east operations of fine china subsidiary royal doulton ltd are being expanded in the wake of record recent sales in japan, it added. pearson reported 1986 pre-tax profit of 121.1 mln stg, up from 109.3 mln in 1985. turnover fell to 953 mln from 970 mln. reuter
financial-markets
news
news
medium
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[]
[ -0.08372493830000001, 0.0158199798, 0.0063892519, -0.0061560115, 0.0429308563, -0.0065046442000000005, -0.034374021000000005, 0.0052542454, 0.0051910724, -0.055230200300000004, -0.0067841816000000004, -0.07143853600000001, -0.0039411392, -0.00008060350000000001, 0.019139835600000002, -...
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1987-03-16T06:22:02.180000
[]
[ "hong-kong", "china" ]
[]
[]
[]
H.k.'s kowloon-canton railway plans new line
The government-owned is planning a new line to link up the existing railroad with the new light rail system now under construction, a company spokeswoman said. she said the 14.9-kilometre link will connect the two independent lines in the northern part of the suburban area near the china border. it is not yet decided whether a light rail system or a conventional system will be used for the link. the link, which will take about 3-1/2 years to complete, is expected to cost 1.26 billion h.k. dlrs, she said. the spokeswoman said the final decision on the link is up to the government, depending on the government's overall transport and development policy. she said consultancy studies commissioned by the company show that by 1996 the new link will carry 137,100 passengers daily and generate an additional 50,000 passengers in the conventional railway system. reuter
financial-markets
travel-and-transportation
news
medium
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[]
[ -0.1250275373, -0.0055545401, 0.051324185, 0.0239030831, -0.0038870410000000004, 0.1036845371, -0.0346684605, -0.0184247866, -0.0292558167, -0.0357853845, 0.0488146283, -0.0467216447, 0.0127471276, -0.0733714402, 0.012092229900000001, -0.0089528486, 0.07838495820000001, -0.01689323...
[ -0.0682580918, 0.0245767292, 0.0897275582, -0.0141098909, -0.0264053755, 0.0726870298, -0.0066201487, -0.0197835825, -0.0033786457000000002, -0.013610514800000001, 0.08476834, -0.034124594200000004, 0.0217714794, -0.0382059999, -0.0174404085, 0.015169717400000001, 0.03731383760000000...
1987-03-16T06:26:58.620000
[ "money-supply" ]
[ "west-germany" ]
[]
[ "bundesbank" ]
[]
German february central bank money growth steady
West german central bank money stock was growing at an annualized 7.5 pct in february, unchanged from the 7.5 pct reported in january, provisional data from the bundesbank showed. the figure was thus outside the three to six pct range set by the bundesbank for 1987. in absolute terms, the measure rose to 223.2 billion marks in february from 221.8 billion in the prior month. the data showed that the stock grew at an annualized 8.6 pct over the six months to february, slower than the 9.4 pct rise in the same period to january. of the two components comprising central bank money stock, cash in circulation rose to 111.7 billion marks in february from 110.9 billion in january, the bundesbank data showed. this gave an annualized 8.3 pct rise over the six months to february, down from a 10.2 pct increase over the six months to january. minimum reserve requirements on domestic liabilities grew to 111.5 billion marks in february from 110.9 billion in january. this yielded an annualized 8.8 pct rise over the six month to february, up slightly from an 8.6 pct increase over the same period to january. reuter
earnings-reports
finance
news
medium
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[ "west-german" ]
[ -0.10359051820000001, -0.015458521400000001, -0.0125743039, 0.017071800300000002, 0.0079274476, 0.006934044, -0.0555018745, 0.0313266888, 0.0012959001, 0.0190220382, -0.0167730357, -0.0192864053, -0.0309848879, 0.0627276227, 0.054075364, 0.0237159356, 0.019486198200000002, -0.04253...
[ -0.0625191107, 0.025355329700000002, -0.0321371853, 0.0371604636, -0.031486023200000005, -0.0291332286, -0.008480042200000001, 0.0519300997, 0.0479210168, 0.014349111400000001, 0.02655752, 0.0168504529, 0.0114923613, 0.0962982327, -0.0212180018, -0.0124284439, 0.026461638500000002, ...
1987-03-16T06:31:23.750000
[ "gold" ]
[ "australia", "japan", "u.s.", "hamburg", "west-germany" ]
[]
[ "vereins--und-westbank-ag" ]
[]
German bank sees higher gold price for 1987
Gold is expected to continue its rise this year due to renewed inflationary pressures, especially in the u.s., hamburg-based vereins- und westbank ag said. it said in a statement the stabilisation of crude oil prices and the organisation of petroleum exporting countries' efforts to achieve further firming of the price led to growing inflationary pressures in the u.s., the world's biggest crude oil producer. money supplies in the u.s., japan and west germany exceed the central banks' limits and real growth of their gross national products, it said. use of physical gold should rise this year due to increased industrial demand and higher expected coin production, the bank said. speculative demand, which influences the gold price on futures markets, has also risen. these factors and south africa's unstable political situation, which may lead to a temporary reduction in gold supplies from that country, underline the firmer sentiment, it said. however, australia's output is estimated to rise to 90 tonnes this year from 73.5 tonnes in 1986. reuter
business-news
finance
news
medium
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1987-03-16T06:32:09.260000
[ "retail" ]
[ "u.k.", "uk" ]
[]
[ "the-department-of-trade" ]
[]
U.k. retail sales rise 2.2 pct in february
The volume of u.k. retail sales rose a provisional, seasonally adjusted 2.2 pct in february after falling a final 2.2 pct in january, figures released by the department of trade and industry show. the february sales index, base 1980, was put at a preliminary 125.0 after a final 122.3 in january. in the three months from december to february, the level of sales was little changed over the previous three months but was nearly six pct higher than the same year ago period. on a non-seasonally adjusted value basis, retail sales in february were a provisional 9.0 pct higher than a year earlier. the department noted the latest figures were similar to the average in the fourth quarter last year but well above the january index, which was depressed by the effects of severe weather. the february trading period comprised the four weeks february 1 to 28. final february retail sales figures will be published on april 6. reuter
earnings-reports
news
news
medium
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1987-03-16T06:34:09.480000
[ "earn" ]
[ "uk" ]
[]
[]
[]
Transport development group plc 1986 year
Shr 17.15p vs 12.37p final dividend 5.5p, making 7.5p vs 6.2p pre-tax profit 39.4 mln stg vs 29.7 mln. turnover 543.2 mln stg vs 481.5 mln operating profit 48.2 mln stg vs 38.2 mln net interest 8.9 mln vs 8.6 mln tax 14.3 mln vs 11.2 mln profit after tax 25.1 mln vs 18.4 mln minority interest 300,000 vs 615,000 net tangible assets per ordinary shr 111.3p vs 101.6p reuter
company-deals
news
news
low
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1987-03-16T06:42:20.680000
[ "cocoa" ]
[ "london", "geneva", "uk" ]
[]
[ "icco", "itc", "ico-coffee", "ec" ]
[]
Cocoa latest focus for commodity pact negotiators
The credibility of government efforts to stabilise fluctuating commodity prices will again be put to the test over the next two weeks as countries try to agree on how a buffer stock should operate in the cocoa market, government delegates and trade experts said. only two weeks ago, world coffee prices slumped when international coffee organization members failed to agree on how coffee export quotas should be calculated. this week, many of the same experts gather in the same building here to try to agree on how the cocoa pact reached last summer should work. the still unresolved legal wrangle surrounding the international tin council (itc), which had buffer stock losses running into hundreds of millions of sterling, is also casting a shadow over commodity negotiations. the itc's failure has restricted negotiators' ability to compromise as governments do not want to be involved in pacts with built-in flaws or unlimited liability, but want clear lines drawn between aid and trade. a more hopeful sign of cooperation was agreement on basic elements of a new international natural rubber agreement in geneva at the weekend. some importing countries insist the international cocoa organization (icco) buffer stock rules must not be muddied with quota type subclauses which might dictate the type of cocoa to be bought. one consumer country delegate said this would "distort, not support" the market. trade and industry sources blame uncertainty about the icco for destabilising the market as the recent collapse in coffee prices has made traders acutely aware that commodity pacts can founder. on friday this uncertainty helped push london cocoa futures down to eight month lows. the strength of sterling has also contributed to the recent slip in prices. the icco daily and average prices on friday fell below the "must buy" level of 1,600 sdrs a tonne designated in the pact, which came into force at the last icco session in january but without rules for the op
policy-news
finance
news
medium
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1987-03-16T06:57:10.030000
[]
[ "kuala-lumpur", "toronto", "canada", "u.s.", "hong-kong", "kota-kinabalu", "the-united-states" ]
[ "reuter" ]
[ "the-hong-kong-government", "dragonair", "reuters", "cathay", "hongkong-dragon-airlines-ltd", "swire-pacific-ltd-.", "cathay-pacific-airways-ltd", "cathay-pacific" ]
[]
Cathay pacific wins toronto route license
Cathay pacific airways ltd has won a two-year license from the hong kong government to operate scheduled flights to toronto, a cathay spokesman said. he told reuters the airline had sought a five-year right to add toronto to its existing license to serve the united states and canada. "we're pleased," the spokesman said. "it's important because toronto has a large ethnic chinese commmunity and there's a growing amount of travel." canadian and british authorities must agree on air service rights before cathay can begin service to toronto. cathay pacific is controlled by swire pacific ltd . hongkong dragon airlines ltd, a fledgling locally based airline, had opposed the move, saying that cathay should wait until its license for its u.s. and canadian routes expires in february next year. a hearing started today and continues tomorrow. an application by dragonair is to start flights to malaysian cities including kuala lumpur and kota kinabalu. cathay is opposing dragonair's request. reuter
financial-markets
travel-and-transportation
news
medium
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[ "chinese", "canadian", "malaysian", "british" ]
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1987-03-16T06:57:53.520000
[ "cpi" ]
[ "yugoslavia" ]
[]
[]
[]
Yugoslav february inflation rises 7.2 pct
Yugoslav retail prices in february rose 7.2 pct from january to stand 91.6 pct higher than in february 1986, the federal statistics office said. in january retail prices rose 6.6 pct from december to stand 90.4 pct higher than in january 1986. the cost of living, an index that includes services and utilities as well as retail prices, was up 7.3 pct in february from january and stood 93.6 pct higher than in february 1986. in january the cost of living increased by 6.4 pct from december and stood 91.8 pct higher than in january 1986. reuter
earnings-reports
news
news
medium
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[ "yugoslav" ]
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1987-03-16T07:00:37.690000
[]
[ "finland" ]
[]
[ "the-helsinki-stock-exchange" ]
[]
Finnish markets show no pre-election impact
Finnish two-day general elections ending tonight have not affected financial markets, with trade continuing as normal, bankers said. "there is no sign of nervousness, the market is steady as a rock. trade is normal, i see no special increase or decrease," one foreign banker said. the markka's currency index was fixed today at 103.8, unchanged since early march. the mid-rate fix of the dollar was 4.517 markka, down from 4.546 last friday. opinion polls show a possible return into government of the conservatives after 21 years in opposition. trade at the helsinki stock exchange was unaffected by the election, securities analysts said. they said the likelihood of major changes in economic policy even if the conservatives join the government are slim although they favour further liberalisation of financial markets. the conservatives, who hold 44 seats in parliament, have shelved plans to privatise state industry in order to improve their chances of joining a centrist coalition. reuter
policy-news
news
news
medium
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[ "conservatives", "finnish" ]
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1987-03-16T07:06:31.320000
[]
[ "ukraine", "chernobyl", "ussr" ]
[]
[ "the-ukrainian-academy-of-sciences", "the-communist-party-newspaper", "pravda" ]
[]
Scientist allays fears about chernobyl pollution
Radioactive contamination of water supplies around the chernobyl nuclear power plant will not reach danger levels when the winter snowfall starts to melt, a soviet scientist was quoted as saying at the weekend. konstantin sytnik, vice-president of the ukrainian academy of sciences, said there had been fears that melted snow containing radioactive particles might flow into main water supplies. but he told the communist party newspaper pravda that contamination of snow around the plant was within safety levels and some of it had already been absorbed into the soil. snowfall this winter had been greater than usual and a certain increase in the amount of radiation in the water was inevitable. but contamination would be within the permissible limits, sytnik said. the banks of the river pripyat, which flows near the plant, had been reinforced to prevent it bursting its banks when the thaw began this spring, he added. about 135,000 people were evacuated and 31 were killed after an explosion and fire at chernobyl last april 26. a concrete wall was built last summer to prevent contamination of the pripyat by radioactive ground water. meanwhile, a ukrainian official was quoted as saying today that preparations were under way in the ukraine to evacuate towns and villages before there was heavy flooding after higher than usual snowfall this winter. v. martynenko, head of a flood commission in the donbass area of the ukraine, told pravda preparations had begun for the evacuation of about 112,000 people in the donbass in the south of the republic. about 190 towns and villages and 12,000 homes could be flooded when snow -- falls of which had been six times higher than usual in some areas -- started to thaw. cattle had already been moved from some parts, they said. reuter
business-news
sensitive-subjects
news
medium
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[ "ukrainian", "soviet" ]
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1987-03-16T07:09:58.600000
[]
[ "philippines" ]
[ "aquino" ]
[]
[]
Aquino disbands vigilante groups
President aquino has ordered the dissolution of all armed civilian vigilante groups around the philippines, officials said. the order follows protests about the activities of vigilantes by human-rights activists, but goes against calls by the military for more such groups. the vigilantes have been credited with a major role in recent successes in several districts against communist rebels. reuter
policy-news
sensitive-subjects
news
medium
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[ "communist" ]
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1987-03-16T07:16:04.900000
[ "earn" ]
[ "uk" ]
[]
[]
[]
Mai plc six months to december
Shr 25.7p vs 21.5p div 6p vs 4p pretax profit 24.13 mln stg vs 16.40 mln net after tax 15.08 mln vs 10.52 extraordinary credit 8.71 mln stg vs nil turnover 140.8 mln vs 96.55 note - the extraordinary item comprises profit less losses on the sale of certain subsidiaries less related tax and minority interests. pretax profit comprises - securities and money broking 15.44 mln stg vs 10.75 mln personal financial services 3.6 mln vs 735,000 stg media 3.74 mln vs 3.16 mln market reserch 912,000 stg vs 732,000 net interest 438,000 vs 1.03 mln reuter
company-deals
news
boilerplate-content
low
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[]
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1987-03-16T07:17:25.180000
[]
[ "new-york", "hawaii", "philippines" ]
[ "benedicto", "diaz", "corazon-aquino", "ferdinand-marcos", "marcos", "antonio-floirendo", "roberto-benedicto", "ramon-diaz" ]
[ "reuters" ]
[]
Panel head says marcos still controls large funds
The head of a philippine panel charged with recovering illegal wealth accumulated by former president ferdinand marcos and his associates said they still controlled large funds circulating in the country's economy. ramon diaz, chairman of the presidential commission on good government (pcgg) told reuters in an interview: "there is every reason to believe that the cronies and president marcos and his family were able to hide millions and millions of pesos before they fled. as a matter of fact we have been able to get hold of crates of newly printed currency." diaz did not give figures, but said: "we believe they still have a lot of funds. these are the funds that they will use in the coming elections. these are the funds that they used to stage those coups." he was referring to congressional elections scheduled for may 11 and to the three coup attempts faced by president corazon aquino since she toppled marcos a year ago. diaz said the pcgg so far has recovered cash and property valued at about eight billion pesos and had sequestered shares of stock of at least 286 firms. "we have achieved more than what we thought we could achieve in one year," he added. the government last week announced that businessman antonio floirendo, an associate of marcos known as the "banana king," had turned over 70 mln pesos in cash to the pcgg and promised to surrender titles to property in new york and hawaii worth another 180 mln pesos. in return, the pcgg said it had lifted freeze and sequestration orders on floirendo's properties. diaz said there were already similar preliminary agreements with another marcos associate, roberto benedicto. he said benedicto had surrendered control of several newspapers and radio and television stations and agreed to pcgg control of the boards of a bank and a hotel he owned in the philippines. diaz said the pcgg based its estimates of illegal wealth on income-tax returns and land titles of marcos associates. "anything over a
policy-news
news
news
medium
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[ "philippine" ]
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1987-03-16T07:18:51.910000
[]
[ "hungary" ]
[ "speigel", "laszlo-karczag" ]
[ "volkswagen", "korczag", "reuters", "vw", "the-national-bank-of-hungary", "volkswagen-ag", "the-hungarian-national-bank" ]
[]
Hungarian bank denies misconduct in vw affair
The national bank of hungary said its name had been used in fraudulent foreign exchange contracts with volkswagen ag but denied any misconduct on its part. national bank managing director laszlo karczag told reuters, "all our businesses (with volkswagen) had been closed with all payments made when due on both sides and therefore we do not have ... any open or unsettled positions whatsoever with them." karczag said the bank was in contact with volkswagen and was "rendering them all possible assistance in their investigations." the west german weekly der speigel said a fraud involving vw's reported 480 mln mark loss on foreign exchange dealings came to light when the hungarian national bank refused to honour what turned out to be a fake forward currency purchase contract. reading a prepared statement, korczag said, "we have knowledge, however, of the fact that in certain fraudulent contracts the name of the national bank of hungary has also been misused. we deny any kind of misconduct on our part." the bank had been doing foreign exchange business with volkswagen "for a few years," he said. reuter
industry-news
finance
news
medium
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[ "west-german" ]
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1987-03-16T07:19:08.540000
[ "crude" ]
[ "ecuador", "quito" ]
[ "leon-febres-cordero", "cordero", "patricio-quevedo" ]
[ "the-world-bank" ]
[]
Ecuador says it will pay debt when it can
President leon febres cordero said ecuador would honour its debt when it had the capacity to make payments, but said foreign banks had calculated oil would have to be 25 dlrs a barrel for ecuador to meet its commitments. ecuador said on friday that last week's earthquake was forcing it to reaffirm an earlier decision -- based on the slide in world oil prices -- to suspend debt payments to private foreign banks, which hold two-thirds of its 8.16 billion dlr foreign debt. "all legitimate debt is a commitment of honour," the president said during a visit to the quake zone. "a government as a sovereign entity has dignity and prestige to maintain." private foreign banks and the world bank had calculated oil would have to be at least 25 dlrs a barrel for quito to be able to meet its commitments, febres cordero said. he added that ecuadorean crude was now selling for 15 to 17 dlrs a barrel after having been sold for many months at 12 dlrs a barrel and as low as seven dlrs before that. meanwhile, ecuador announced an austerity program and a price freeze on key consumer goods as a result of the earthquake, which killed at least 300 people. presidency minister patricio quevedo said the budget would be cut by five to 10 pct, government hiring would be frozen and salaries of top officials, including the president and cabinet, would be reduced. he also said a price freeze would be imposed on 20 basic consumer items, mainly food staples, while the price of gasoline would rise by between 69 and 80 pct and bus fares would rise by 20 pct. gasoline supplies would also be limited. reuter
policy-news
news
news
medium
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1987-03-16T07:19:21.040000
[ "money-fx" ]
[ "uk" ]
[]
[]
[]
U.k. money market deficit forecast revised upwards
The bank of england said it had revised its estimate of the shortage in the money market today up to 1.15 billion stg before taking account of its early operations. earlier, the bank forecast the deficit at 1.05 billion stg and gave 90 mln stg assistance at an early round of bill offers. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T07:19:43.380000
[ "crude" ]
[ "usa", "ecuador" ]
[ "leon-febres-cordero" ]
[ "banque-paribas", "paribas" ]
[]
Paribas seeking to adjust ecuador oil facility
Banque paribas, which arranged a 220 mln dlr loan for ecuador last year to pre-finance oil exports, wants to adjust the terms of the facility to help the country recover from a devastating earthquake, bankers said. but the french bank's plan, which would effectively postpone repayment of about 30 mln dlrs of the loan for several months, is running into stiff resistance from many of the 52 members of the loan syndicate. the pipeline that carries all ecuador's oil exports was ruptured in the march 5 tremor and will take some five months to repair at a cost of about 150 mln dlrs to repair. president leon febres cordero on friday estimated total damages caused by the quake at one billion dlrs and said that ecuador as a result would maintain january's suspension of interest payments on its foreign commercial bank debt. payments were halted in january because of the drop in the price of oil, which accounts for nearly two-thirds of ecuador's export earnings and 60 pct of government revenue. although sympathetic to ecuador's plight, many banks in the paribas facility feel that emergency financial relief is a job for international financial organizations and not for commercial banks, bankers said. the 18-month oil-financing facility, which was signed last october 28, is one of the few purely voluntary credits for a latin american nation since the region's debt crisis erupted in august 1982. because it was a voluntary deal, many bankers feel strongly that the orginal terms must be adhered to. otherwise, they fear, the gradual re-establishment of normal market conditions for latin borrowers will be set back. "there's a lot of reluctance by the other banks. they feel it's a different facility, and so any kind of suggestion of a restructuring would look bad," one banker commented. reuter
industry-news
finance
news
medium
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[ "latin-american", "latin", "french" ]
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1987-03-16T07:20:40.550000
[ "money-fx", "yen", "gnp" ]
[ "paris", "west-germany", "u.s.", "japan" ]
[ "kiichi-miyazawa" ]
[]
[]
Bank of japan satisfied with yen at current range
The bank of japan is satisfied with the yen around its current range, a senior central bank official told reporters. he said the pledge by major industrial nations in paris last month to cooperate to hold exchange rates around current ranges applied in both directions, a dollar fall or a dollar rise. unilateral intervention itself cannot ensure currency stability, but it can be useful when coordinated with other policies and with other central banks, he said. the bank of japan is rather confident currency stability will continue for some time, the senior bank official said, but declined to be more specific. finance minister kiichi miyazawa told parliament on friday the current dollar/yen exchange rate is not necessarily satisfactory for the japanese economy. asked what factors might destabilize the markets, the official cited a lessening of market fear about intervention, a completely unexpected change in the economy of japan, the u.s. or west germany, or resumption of comments by government officials seeking to talk the dollar up or down. the senior bank official said he expects japan's gross national product (gnp) to grow three pct or slightly more in the fiscal year beginning in april. that would be little changed from the performance expected this year. domestic demand may grow nearly four pct in 1987/88, but the external sector will have a negative impact on gnp of nearly one percentage point, he said. he said there was virtually no room for further monetary policy action to boost the economy. the economy's performance in the future very much depends on fiscal policy, he added. the central bank's monetary policy has already done its part in stimulating the economy, the senior bank official said. the bank of japan has cut its discount rate five times over the last year and a half. although the central bank does not see any imminent risk of inflation, there could be some problems in the future, he said. "we are sitting on a
policy-news
finance
news
medium
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[ "japanese" ]
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1987-03-16T07:21:50.250000
[ "acq" ]
[ "london", "paris", "china", "luxembourg", "uk", "hong-kong" ]
[]
[ "baii", "baii-holdings-sa", "bank-of-china" ]
[]
Bank of china takes stake in baii holdings
Bank of china has taken a stake in luxembourg-based finance company baii holdings sa, a spokesman for baii said. the stake was between three and five pct but no further details of the deal, which was announced simultaneously in paris, london and hong kong, were immediately available. baii, which is 50 pct arab owned, is looking to expand its activities in the far east and recently established a wholly-owned merchant banking subsidiary in hong kong, the spokesman said. the group had earnings of 15.4 mln dlrs in 1985. reuter
industry-news
finance
news
medium
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[ "arab" ]
[ -0.1233803406, -0.0234382879, 0.0460414924, -0.0027546948, -0.023468269, 0.0353890061, -0.0693058595, 0.0538308583, 0.0384618193, -0.0160694085, 0.0012862898, 0.025603290600000002, -0.0099254912, 0.026084950200000002, 0.0063210377000000005, -0.0001756277, 0.0554634221, -0.055002152...
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1987-03-16T07:22:23.160000
[ "crude" ]
[ "kuwait", "saudi-arabia" ]
[ "nazer", "fahd", "kingd", "ahmed-zaki-yamani", "hisham-nazer" ]
[ "opec", "reuters" ]
[]
Saudi oil minister sees no need to alter pact
Saudi arabian oil minister hisham nazer said opec's december agreement to stabilize oil prices at 18 dlrs a barrel was being implemented satisfactorily and there was no immediate need to change it. nazer, in an interview with reuters and the television news agency visnews, said saudi arabia was producing around three mln barrels per day (bpd) of crude oil, well below its opec quota. saudi arabia, the world's largest oil exporter, will continue to restrain production as long as other opec members adhere to the pact, nazer said. the 13-nation opec agreed in december to cut its production ceiling by 7.25 pct to 15.8 mln bpd and abide by fixed prices averaging 18 dlrs a barrel from february 1. nazer, in his first interview since succeeding ahmed zaki yamani last october, said: "i do not foresee any need for new measures before the 25th of june when our (next opec) meeting will take place as scheduled." nazer said opec was producing below 15.8 mln bpd and all members were abiding by its agreements. "we've heard news every now and then of violations but they were not at all verified," he said. opec production curbs have boosted world oil prices from a 13-year low of around eight dlrs a barrel last august to near 18 dlrs after announcement of the december pact. spot market prices slipped some two dlrs in february but have firmed in the past two weeks to near opec levels as traders gained confidence in opec price and output discipline. nazer said saudi arabia would continue to produce below its 4.133 mln bpd quota if necessary to defend the 18 dlr price. "as long as all the opec members adhere to the program as devised in december, saudi arabia will continue to adhere to the agreement," he said. current production of three mln bpd includes oil from the neutral zone shared with kuwait, but not sales from floating storage, nazer said. king fahd of saudi arabia, in an interview with reuters and visnews on march 11, said the kingd
business-news
business-and-industrial
news
low
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[ "arabian", "saudi" ]
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1987-03-16T07:25:30.480000
[ "trade" ]
[ "turkey", "reuter" ]
[]
[]
[]
Turkish trade deficit widens in 1986
Turkey's trade deficit rose to 3.65 billion dlrs in 1986 from 3.39 billion in 1985 following increased imports from western countries, figures from the state statistics institute show. exports were down 6.3 pct at 7.45 billion dlrs, compared with 7.95 billion in 1985, while imports were down 2.1 pct at 11.10 billion dlrs from 11.34 billion. total trade with mid-east gulf states fell some 40 pct due to lower oil prices, with imports at 1.55 billion dlrs, compared with 2.74 billion, and exports at 1.65 billion after 2.72 billion. exports to organisation for economic cooperation and development countries rose to 4.29 billion dlrs from 4.11 billion in 1985, while imports were 4.56 billion after 3.55 billion. turkey's trade deficit in december narrowed to 216 mln dlrs from 340 mln in november, and compared with 277 mln in december 1985. reuter
earnings-reports
news
news
medium
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[]
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1987-03-16T07:27:31.180000
[]
[ "china", "china-city", "harbin" ]
[]
[]
[]
45 killed, 185 hurt in chinese factory blast
A huge explosion in a flax factory in the northeast china city of harbin killed 45 workers and injured 185, the official china legal news reported. the newspaper said the explosion in the early hours of yesterday destroyed four buildings at the plant. more than 470 workers were in the factory at the time of the explosion. doctors specializing in burns were rushed to harbin to help treat the injured. the paper said the cause of the blast was still being investigated. it gave no further details. reuter
business-news
sensitive-subjects
news
medium
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[]
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1987-03-16T07:30:05.220000
[ "earn" ]
[ "switzerland" ]
[]
[ "bearer", "schweizerische-aluminium-ag", "alusuisse" ]
[]
Alusuisse shares fall after capital cut news
Bearer shares of schweizerische aluminium ag (alusuisse) fell sharply as trading resumed after a one-day suspension on friday, when the firm disclosed plans for a capital cut. the bearers, held mainly by foreign investors, dropped 30 swiss francs to 460. but volume was not particularly heavy. registered shares were less affected, slipping five to 165. the participation certificates fell to 43 francs from 45.50. alusuisse made a net loss of 688 mln francs, after a restated 756 mln loss in 1985, and set a 50 pct capital cut. the company said it could break even this year. reuter
payment-notices
news
news
medium
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[]
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1987-03-16T07:30:14.200000
[ "money-fx", "interest" ]
[ "uk" ]
[]
[]
[]
U.k. money market given further 30 mln stg help
The bank of england said it provided the money market with a further 30 mln stg assistance. this brings the bank's total help so far today to 120 mln stg and compares with its upward revised estimate that the system would face a shortage of some 1.15 billon stg. the central bank bought bills for resale to the market in equal amounts on april 1, 2 and 3 at an interest rate of 10-7/16 pct. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T07:31:20.580000
[ "money-fx", "reserves" ]
[ "peru" ]
[]
[ "gazette", "the-central-bank" ]
[]
Peru begins foreign exchange rationing
Peru will put into effect today a foreign exchange rationing system for imports designed to stop a slide in the country's international reserves, a government decree in the official gazette said. under the system, importers will be required to present a bill from the foreign seller of goods and apply for a license for foreign exchange. the central bank will have 10 days to decide whether to issue the required foreign exchange. net international reserves now total about 800 mln dlrs compared to 1.54 billion dlrs a year ago. the system will be effective until the end of 1988. a ceiling for foreign exchange availability will be set by a council with members from the central bank, the economy ministry and the planning and foreign trade institutes. the central bank will issue licenses to procure foreign exchange in accordance with guidelines set by the council. peru's reserves fell sharply due to a drop in the trade surplus to about five mln dlrs in 1986 from 1.1 billion in 1985, according to preliminary central bank estimates. total exports dropped to 2.50 billion dlrs last year against 2.97 billion in 1985. reuter
policy-news
finance
news
medium
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[]
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1987-03-16T07:37:35.740000
[ "crude" ]
[ "brazil", "saudia-arabia", "saudi-arabia" ]
[]
[ "banco", "brasil", "petrobras" ]
[]
Saudis drop condition for oil sale to brazil
Saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship it oil, state-oil company petrobras said in a statement. petrobras said the saudis will accept banco do brasil credit guarantees. petrobras cancelled a 40 mln dlr crude oil purchase from the saudis yesterday after they refused to accept a letter of credit from the official bank of brazil. the saudis had demanded that brazil get credit guarantees from leading international banks. petrobras said the saudis had been advised that if they did not change their mind by monday, petrobras would negotiate the purchase of oil with other producers. the petrobras statement said the shipment of 2.2 mln barrels will be made by the saudis on march 24 as scheduled. the shipment was part of a contract signed in february for the saudis to supply brazil with 125,000 barrels per day until june. reuter
business-news
business-and-industrial
news
medium
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[ "saudis" ]
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1987-03-16T07:47:38.820000
[]
[ "london", "uk" ]
[]
[ "chemical-bank-international-ltd", "e.i.-du-pont-de-nemours", "philips-gloeilampenfabrieken-nv", "philips-dupont-optical-co" ]
[]
Philips dupont unit arranges 145 mln dlr credit
Philips dupont optical co is arranging a 145 mln dlr, three-year transferable loan facility, chemical bank international ltd said as agent. the financing involves a 70 mln dlr loan which is available for drawing in the six months after signing and a 75 mln dlr revolving credit, which is available for the life of the credit. drawings under both tranches will be at 17.5 basis points over the london interbank offered rate. there will be a utilisation fee of five basis points on the revolving credit if more than 50 pct is used and a commitment fee of 7.5 basis points. borrowings will be available in currencies other than dollars and banks have been invited to join as lead managers at 15 mln dlrs for 7.5 basis points and as managers at 7.5 mln dlrs for five basis points. the borrower is an optical disk joint venture between philips gloeilampenfabrieken nv and e.i. du pont de nemours and co. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T07:54:56.970000
[ "earn" ]
[ "switzerland" ]
[ "giorgio-ghiringhelli" ]
[ "banca-della-svizzera-italiana", "zurich-stock-exchange" ]
[]
Bsi raising 50 mln swiss francs via rights issue
Banca della svizzera italiana said it planned a one-for-12 rights issue at 300 pct of nominal value to raise about 50 mln francs new capital. the rights issue would have a theoretical value to shareholders of 140 swiss francs per bearer share and 45 per registered share. bsi was also seeking shareholder authorization for 200,000 new participation certificates of a nominal value of 100 francs without rights for shareholders, to back future convertible or warrant bonds or for other purposes. existing 500-franc "b" tranche certificates would be split five-for-one. the split would improve the marketability of the existing certificates, chief executive giorgio ghiringhelli told a news conference. the new bearer shares would be priced at 1,500 francs, compared with a closing price last friday of 3,325 on the zurich stock exchange, while the registered shares would be issued at 300 francs against a market price of 900. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T08:08:22.080000
[ "trade", "veg-oil" ]
[ "the-united-states", "belgium", "west-germany's", "malaysia", "norway", "brazil", "washington", "senegal", "indonesia", "uk", "argentina", "britain", "west-germany", "iceland" ]
[ "kohl", "helmut-kohl", "jacques-delors" ]
[ "mcas", "gatt", "ec" ]
[]
U.k. and germany lead attack on ec farm reforms
Britain and west germany told their european community partners they would strongly oppose major elements of proposals to rid the ec of its farm surpluses. at a meeting of ec foreign ministers, britain called for a full debate on a proposed tax on edible oils and fats that has already angered ec consumer groups and unleashed washington-led protests from exporters to the ec, diplomats said. west germany, also opposed to the oils and fats tax, will advise the meeting formally later today it cannot countenance other proposals that could hit german farmers, they added. they said west germany's objections were put in a letter this weekend from chancellor helmut kohl to jacques delors, the president of the ec's executive commission which had put forward the proposals last month in a bid to avoid a new ec cash crisis. kohl reiterated german objections to proposed cereals production curbs but reserved his harshest criticism for a proposed dismantling of monetary compensatory amounts (mcas) - a system of cross-border subsidies and taxes which level out foreign exchange fluctuations for farm exports. kohl made clear the dismantling would mainly hit german farmers who, without mcas, would find it much more difficult to export to weaker currency states, which means virtually all other 11 ec states, diplomats said. britain initiated the discussion on the proposal to impose a hefty tax on domestic and imported oils and fats because it could seriously damage ec trade relations. the diplomats said the united states had been the most outspoken among foreign critics of the proposal, describing it as a breach of the ec's obligations under the world trade body gatt. but protests had also come from other exporters to the ec, such as senegal, malaysia, indonesia, brazil, argentina, iceland and norway, they added. britain has often lined up against west germany on the farm reform issue in the past but is keen to avoid measures that could spark a damagin
policy-news
food-and-drink
news
medium
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[ "german", "european" ]
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1987-03-16T08:08:55.150000
[ "acq" ]
[ "usa" ]
[ "winthrop-knowlton", "knowlton", "theodore-cross", "harper" ]
[ "harcourt-brace-jovanovich-inc-.", "kidder-peabody", "co-inc" ]
[]
Harper and row to mull options after bids
Harper and row publishers inc said its board of directors decided to take no action on two takeover bids that the company has received. instead, it appointed a committee of independent directors to study strategic alternatives for the 170-year-old firm. the alternatives include continuation of the company's existing business plans, possible business combinations, sales of stock, restructuring and the sale of all or part of the company. kidder peabody and co inc has been retained to advise on the alternatives, harper and row added. private investor theodore cross last week offered 34 dlrs a share for harper and row, prompting a rival bid of 50 dlrs a share from another publishing firm, harcourt brace jovanovich inc . after carefully considering the two offers at a meeting on friday, the harpers and row board decided not to act on them. the directors unanimously expressed their strong desire to preserve the company's independence and take advantage of its "considerable future prospects," according to director winthrop knowlton, former chief executive and now chairman of the newly established independent committee. "however, given the significant current interest in the company, we also feel that we should carefully review all the options available. the committee will consider all the pertinent facts and alternatives... we intend to make a careful and informed decision but will proceed expeditiously to a conclusion," knowlton said. pending its deliberations, harper and row's board has postponed indefinitely a special meeting of stockholders that had been scheduled for april 2 to discuss a proposal to recapitalize the company's stock in order to create two classes of shares with different votinmg rights. reuter
payment-notices
news
news
low
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[]
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1987-03-16T08:10:07.910000
[ "acq" ]
[ "usa", "seattle", "oak-harbour", "washington" ]
[]
[ "fhlbb", "interwest-savings-bank" ]
[]
Failing washington state s/l is acquired
The federal home loan bank board (fhlbb) announced the acquisition of home savings and loan association in seattle, washington, by interwest savings bank of oak harbour, washington. the fhlbb said home savings was the 12th troubled savings institution requiring federal action this year. it said home savings had assets of 150.6 mln dlrs in assets and interwest had assets of 342.9 mln dlrs. reuter
industry-news
finance
news
medium
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[]
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1987-03-16T08:10:46.870000
[ "trade" ]
[ "south-korea", "japan", "usa", "washington", "taiwan", "u.s." ]
[ "malcolm-baldrige", "baldrige", "reagan" ]
[ "commerce", "congress" ]
[]
Baldrige warns of world trade war danger
U.s. commerce secretary malcolm baldrige predicted congress will pass a reasonable trade bill this year and said tough protectionist legislation could prompt a trade war. "the mood of the congress right now is as tough on trade as i've ever seen it in six years in washington," baldrige said in a weekend television interview. "i think we'll still be able to get a reasonable trade bill out in spite of that because the whole congress is trying to work together with the administration, but there is a hardening trade attitude," he said. president reagan opposes protectionist legislation but agreed to support a trade bill when it became apparent that opposition democrats would pass such legislation. however, baldrige warned measures that would penalize trading partners such as japan, south korea and taiwan for failing to cut their trade surpluses with the u.s. could lead to retaliation and he said he would urge reagan to veto any such bill. when asked if there is a rising danger of a worldwide trade war, baldrige said: "yes, i don't think there's any question about that." reuter
policy-news
business-and-industrial
news
medium
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[ "democrats" ]
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1987-03-16T08:13:01.110000
[]
[ "ussr" ]
[]
[ "tass", "the-tadzkhikistan-communist-party" ]
[]
17 killed after soviet dam collapses
Seventeen people were killed and 22 are missing after a dam collapsed following heavy rains in soviet tadzhikistan, the official news agency tass said. water broke through the dam in the kulyab region of the central asian republic, and fell on the village of sargazan, sweeping away 53 houses, destroying bridges and damaging railway lines, tass said. the central committee of the tadzkhikistan communist party had sent condolences to the relatives of the dead, tass said. reuter
business-news
sensitive-subjects
news
medium
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[ "soviet" ]
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1987-03-16T08:13:35.060000
[ "money-fx", "dlr", "interest" ]
[ "west-germany", "paris", "canada", "france", "washington", "japan", "usa", "bonn", "toyko", "u.s.", "britain", "the-united-states" ]
[ "reagan" ]
[ "congress" ]
[]
Leading industrial nations to meet in april
Leading industrial nations will meet again next month to review their accord on currency stability, but u.s. officials said financial markets are convinced for now the countries will live up to commitments to speed up economic growth. the narrow currency movements of recent weeks strongly suggests the six leading industrial countries have tamed the normally unruly financial markets and next month's talks seem likely to build on that stability. a reagan administration official said the paris agreement last month was the main reason markets were calm. but he said in an interview that financial markets also understood, "that all six countries concluded that the measures to be taken over a period of time in the future should foster stability of exchange rates around current levels. that is in fact what has happened since paris." monetary analysts said stability has been helped in part by the decision of industrial nations to bury the hatchet and cease to quarrel over short-term policy objectives. instead they have focused on medium-term policy goals, but left room to adjust their agreements with periodic meetings. the official refused to comment, however, on whether the agreement included a secret pact to consider further coordinated interest rate cuts -- a measure industrial nations have taken jointly several times in the past year. on february 22, the united states, japan, west germany, france, britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions, given commitments by washington to cut its budget deficit and by toyko and bonn to boost economic growth. the shake-up would strengthen the u.s. position in future international talks. "i think these changes will strengthen the president's hand politically and the stronger he is politically the better off we are with the congress and the better off we are in international fora," said the official, an administration economic po
policy-news
finance
news
medium
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1987-03-16T08:17:33.380000
[ "acq" ]
[ "seattle", "washington", "texas", "usa", "oregon", "california" ]
[ "robert-a.-larive's" ]
[ "taco-bell", "pepsico", "pepsico-inc" ]
[]
Calny gets bid from pepsico
Calny inc said it has received an offer to be acquired by pepsico inc, which already owns 9.9 pct of calny stock, for 11.50 dlrs per share, subject to approval by pepsico and calny boards and calny shareholders. the company said its board intendsd to schedule a meeting in the near future to review the proposal and it has asked to assist it in evaluating the offer and advise calny on its alternatives. calny is the largest franchisee of pepsico's taco bell restaurants, operating 143 in california, oregon, texas and washington as well as 15 la petite boulangerie bakeries in seattle. calny earned 1,192,000 dlrs on sales of 56.2 mln dlrs for the nine months ended november four. on december four, calny rejected as inadequate an investor group led by former president and chairman robert a. larive's second offer to acquire it because the bid was inadeuqate and subject to too many contingencies. the group offered 11.50 dlrs and one dlr of 10 pct preferred stock per calny share. reuter
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1987-03-16T08:24:09.040000
[ "veg-oil", "palm-oil", "ship" ]
[ "batam-island", "singapore", "habibie", "kalimantan", "borneo", "indonesia" ]
[ "yusuf-habibie" ]
[]
[]
Indonesia plans to build palm oil terminal
Indonesia will build a crude palm oil terminal at a new port on batam island, south of singapore, research and technology minister yusuf habibie said. the terminal will be able to handle 2.1 mln tonnes of crude palm oil from new plantations in northern sumatra and western kalimantan (borneo), he said. a tender for engineering work on the asia port project will be offered mid-year. habibie did not say when the terminal was expected to be operational. reuter
business-news
business-and-industrial
news
medium
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1987-03-16T08:25:18.380000
[ "acq" ]
[ "usa", "warburg" ]
[]
[ "the-utah-business-corporation-act", "warburg" ]
[]
Warburg pincus starts symbion bid
said it has started a tender offer for up to 2,500,000 common shares of symbion inc at 3.50 dlrs each. in a newspaper advertisement, the firm said the opffer is not conditioned on receipt of any minimum number of shares but is conditioned on holders of nor more than 400,000 symbion sharesseeking to receive the fair value of their shares under provisions of the utah business corporation act. warburg said receipt of 2,500,000 shares would raise its interest in symbion to about 59.3 pct from 25.8 pct currently and give it control. warburg said it reserves the right to buy more than 2,500,000 shares if the offer is oversubscribed but has no present intention of doing so. it said it has asked symbion to provide its shareholder list to help in disseminating the offer. the firm said the offer, proration period and withdrawal rights expire april 22 unless extended. reuter
payment-notices
finance
news
low
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1987-03-16T08:39:55.210000
[ "earn" ]
[ "usa", "oslo" ]
[ "michel-billard", "robert-berckmans", "james-mitchell", "steven-duin", "william-richardson" ]
[ "zim-management", "zim", "zim-said-chemclear-inc", "cts", "zim-energy-corp" ]
[]
Zim energy to sell shares privately
Zim energy corp said it has entered into an agreement for a group consisting of , of oslo and mis gas corp -- which already owns one third of zim -- to buy 15 to 20 mln new common shares at 20 cts each in association with and . the company said the investor group also bought about 6.3 mln shares from zim management. it said james mitchell, william richardson and steven duin have resigned as officers and directors. zim said chemclear inc has unilaterally canceled an agreement to merge with zim, and zim's board is studying the possiblity of a claim against chemclear. the company said it expects to report a loss for the year of about 3,125,000 dlrs due to lower oil and natural gas prices, unsuccessful well workover programs and excessive overhead and corporate expenses. it said it plans a dramatic reduction in overhead costs that should improve results. the company said michel billard has been named chairman and robert berckmans has been named president and chief executive, and berckmans and two others have joined the board. zim said it has agreed to acquire the remaining interest in its buccaneer and blue dolphin pipeline affiliates for about one mln dlrs in cash and stock. it gave no further details. reuter
payment-notices
business-and-industrial
news
medium
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1987-03-16T08:40:16.020000
[ "earn" ]
[ "usa", "bluefield" ]
[]
[]
[]
Bluefield supply in liquidating payout
Bluefield supply co said its board declared its second liquidating dividend of 1.71 dlrs per share, payable march 16 to shareholders of record march 13. the company paid an initial liquidating dividend of 15.75 dlrs per share on january eight. reuter
payment-notices
news
news
medium
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1987-03-16T08:40:34.390000
[ "earn" ]
[ "usa" ]
[]
[ "cts" ]
[]
Bergen brunswig corp 2nd qtr feb 28 net
Shr 33 cts vs 48 cts shr diluted 33 cts vs 44 cts net 4,435,000 vs 6,410,000 revs 839.3 mln vs 751.8 mln 1st half shr 55 cts vs 94 cts shr diluted 55 cts vs 88 cts net 7,374,000 vs 12.6 mln revs 1.68 billion vs 1.51 billion reuter
company-deals
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1987-03-16T08:44:08.780000
[]
[ "usa", "miami", "tauss" ]
[ "nancy-tauss", "frank-lorenzo", "louis-marckesano", "lorenzo" ]
[ "texas-air", "the-transport-workers-union", "eastern", "continental-airlines", "janney-montgomery-scott-inc-of", "eastern-airlines" ]
[]
Talking point/eastern airlines
A rash of firings, fears of mass layoffs and management overtures for wage concessions have set the stage for all-out war between eastern airlines and its unions, analysts and labor leaders say. the bitter labor-management dispute has hurt efforts to revive the ailing carrier and could ultimately lead texas air, eastern's new owner, to tranfer scores of eastern jets to its non-union sister airlines, analysts said. "it's a trump card that texas air could resort to if things get bad enough -- repainting eastern planes and shifting them over continental airlines," said louis marckesano, an analyst for janney montgomery scott inc of philadelphia. eastern lost 130.8 mln dlrs in 1986, and analysts see little chance of the carrier returning to profitability this year. since the miami-based carrier was taken over by texas air last year, the morale of eastern's 38,000 employees has plummeted, workers and labor leaders say. some eastern officials acknowledge privately that morale problems have contributed to high absenteeism and a decline in customer service, triggering a barrage of passenger complaints. union leaders are accusing eastern's managers -- many of them newly installed by texas air chairman frank lorenzo -- of conducting a campaign of harassment and intimidation aimed at ridding the airline of high-paid, senior employees. "it's an underhanded way of forcing experienced people out in an attempt to cut the company's labor costs," said nancy tauss, vice president of the transport workers union local 553. some flight attendants complain that they are being stalked by what they call "spyriders" -- teams of auditors they say have been hired by lorenzo to fly on eastern jets and secretly examine flight crew performance. since the beginning of the year, at least a dozen flight attendants have been fired as a result of such audits, some for having as little as two dlrs missing from liquor sales and movie headset rentals, tauss said.
financial-markets
travel-and-transportation
news
medium
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1987-03-16T08:45:27.640000
[ "acq" ]
[ "uk" ]
[]
[ "woolworth", "woolworth-holdings-plc", "salomon", "dixons", "833p.", "dixons-group-plc", "salomon-brothers", "u.k.-equity-ltd" ]
[]
Dixons sells 8.3 mln woolworth shares
Dixons group plc has sold 8.3 mln shares in woolworth holdings plc through salomon brothers u.k. equity ltd, a statement from salomon said. the shares were placed with about 45 to 50 institutions in europe and the far east. dixons retains one mln woolworth shares, a dixons spokesman added. industry sources said dixons acquired the woolworth shares in connection with its unsuccessful bid for the company last year. dixons paid an average price of 695p per share which compares with 819p today. woolworth closed on froday at 833p. a dixons spokesman said the decision to retain one mln shares reflected woolworth's buoyant prospects. reuter
payment-notices
news
news
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1987-03-16T08:50:28.230000
[ "earn" ]
[ "usa" ]
[]
[ "joule'-inc" ]
[]
Joule' inc sets stock split
Joule' inc said its board declared a three-for-two stock split, payable april 30, record march 31. reuter
payment-notices
news
news
low
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1987-03-16T08:50:43.760000
[]
[ "usa", "u.s." ]
[]
[ "widcom-inc" ]
[]
cuts teleconference system price
Widcom inc said effective immediately it has cut the u.s. price for its video teleconferencing system by 32 pct to 49,950 dlrs. it said it will consider volume discounts on orders of more than 10 systems. reuter
financial-markets
internet-and-telecom
news
medium
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1987-03-16T08:51:21.400000
[]
[ "usa", "chicago", "u.s." ]
[ "david-goodstein" ]
[ "interconsult-inc.", "apollo-computer-inc", "adobe-systems-inc's", "macintosh", "microsoft-corp's", "digital-equipment-corp,-xerox-corp", "ibm" ]
[]
Technology/desktop publishing
This month's endorsement by international business machines corp of two desktop publishing software products should add some much-needed standards to one of the fastest growing segments of the computer industry, analysts say. desktop publishing is a relatively new market but industry analysts estimate that sales will reach one billion dlrs this year and jump to six billion dlrs by 1990, fueled by the rush of corporations to bring their printing and publishing needs in-house rather than to more expensive outside printers. printing is a big expense for most companies. analysts estimate u.s. corporations will spend about six to 20 pct of their total operating budgets on publishing expenses this year. at a desktop publishing conference in chicago earlier this month, ibm said it will adopt adobe systems inc's postscript typesetting language in future electronic printing products. ibm also said it will support microsoft corp's windows operating environment as the graphics interface standard in future publishing announcements rather than its own topview environment. "ibm's announcement will give tremendous stimulation to the development of the desktop publishing market," said david goodstein, president of the consulting firm interconsult inc. "it gives users permission to go ahead and buy products that are already available without being afraid that they will not be compatible with whatever ibm does," he said. the advent of personal computers, laser printers and graphics software has allowed users to design and print brochures, newsletters and a host of other communications at their desks for a fraction of the cost of an outside printing firm. analysts credit apple computer with creating desktop publishing when it introduced its macintosh personal computer four years ago, with its easy-to-use formats and excellent graphics capabilities. since then digital equipment corp, xerox corp, apollo computer inc and a number of other vendors have identi
financial-markets
news
news
medium
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1987-03-16T08:57:33.690000
[ "acq" ]
[ "usa" ]
[]
[ "whippany", "npn-inc", "board-co-inc" ]
[]
merger approved
Whippany paper board co inc said shareholders at a special meeting approved a merger into npn inc for 2.50 dlrs per share. npn acquired control of whippany in a recent tender offer. reuter
payment-notices
news
news
low
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1987-03-16T08:57:53.180000
[ "acq" ]
[ "usa", "seattle", "reuter" ]
[]
[ "northern-air-freight-inc" ]
[]
Northern air freight gets, rejects, bid
Privately-held said it met with officials of northern air freight inc to try to negotiate a friendly acquisition of northern, but northern's management had no interest in the proposal. northern has annual revenues of about 60 mln dlrs and is based in seattle. reuter
financial-markets
news
news
low
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1987-03-16T08:59:03.540000
[]
[ "usa", "los-angeles" ]
[]
[ "nasd" ]
[ "nasdaq" ]
Los angeles securities to stay on nasdaq
Los angeles securities group said the has decided not to delist its securities from the nasdaq system for now, as it had threatened. the company said the nasd has granted it an undetermined period of time to resolve issues raised by the nasd on market-making in its own common stock. reuter
payment-notices
finance
news
medium
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1987-03-16T08:59:21.850000
[]
[ "usa" ]
[]
[ "summit-energy-inc" ]
[]
Summit energy extends exchange offer
Summit energy inc said it has extended to april three from march 13 its offer to exchange six common shares for each of its 569,200 outstanding shares of 1.80 dlr cumulative convertible preferred stock. the company said through friday it had received 302,669 of the shares or 53.2 pct. reuter
payment-notices
news
news
medium
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1987-03-16T08:59:28.010000
[]
[ "luxembourg", "uk", "tokyo" ]
[]
[ "export-development-corp" ]
[]
Export development corp issues euroyen bond
Export development corp is issuing a 15 billion yen eurobond due august 28, 1992 paying 4-1/2 pct and priced at 101-7/8 pct, lead manager bank of tokyo international said. the bond is available in denominations of one mln yen and will be listed in luxembourg. fees comprise 1-1/4 pct selling concession and 5/8 pct management and underwriting combined. reuter
industry-news
business-and-industrial
news
medium
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1987-03-16T08:59:45.210000
[ "earn" ]
[ "usa" ]
[]
[ "cts" ]
[]
American building maintenance 1st qtr net
Shr 35 cts vs 44 cts net 1,311,000 vs 1,619,000 revs 125.2 mln vs 117.2 mln note: american building maintenance industries inc. reuter
company-deals
news
boilerplate-content
low
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[ "american" ]
[ -0.1548206061, 0.00036783730000000003, 0.0531092659, 0.0050774943, -0.0297608785, 0.0657005608, -0.0208638981, 0.0416928567, 0.0407285802, -0.0283113793, 0.0185804013, -0.005864691, -0.0070207715, 0.0451809242, 0.0724184215, 0.0379165001, 0.0583621413, 0.044169623400000003, -0.05...
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1987-03-16T09:01:35.320000
[ "acq" ]
[ "usa" ]
[]
[ "renouf-corp-international", "california-limited-partnership", "renouf" ]
[]
Renouf extends benequity holdings offer
Renouf corp international said it has extended the expiration of its offer to pay 31 dlrs a unit to buy all outstanding units of benequity holdings a california limited partnership to march 24 from march 13. as of march 13, renouf said, about 3,847,375 units had been tendered. renouf pointed out this exceeds the minimum number sought in the offer, but its statement gave no reason for the extention. benequity has 5.7 mln units outstanding. reuter
payment-notices
news
news
medium
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[]
[ -0.1549108326, -0.0329847969, -0.0004986508000000001, 0.011363754, -0.032588668200000004, 0.0503889956, -0.062203466900000004, 0.0113569489, -0.0036597182000000002, -0.0690739527, 0.030238701000000003, -0.013133375000000001, 0.0664030761, 0.0192453228, -0.0063481503, 0.0512648299, 0....
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1987-03-16T09:02:13.930000
[]
[ "usa" ]
[ "susan-phillips", "phillips", "john-shad" ]
[ "cftc", "phillips", "congress" ]
[]
Cftc opposes u.s. federal futures margin setting
Commodity futures trading commission, cftc, chairman susan phillips said the agency opposed efforts to set up a federal regulatory framework over futures and options margins. phillips told the national grain and feed association yesterday that futures margins are best set by the exchanges. earlier this year securities and exchange commission chairman john shad suggested that futures volatility might be dampened if federal regulators could set margins. phillips predicted congress would discuss the issue in the context of program trading of stock index futures and options. reuter
policy-news
finance
news
medium
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[]
[ -0.1165000573, 0.0068610674, 0.0460519195, 0.035058848600000005, 0.0533855967, -0.004140906000000001, -0.0242950488, 0.0503146425, -0.0027626215, -0.050091866400000004, 0.0076122023, 0.0145954508, -0.015340745400000001, -0.0297330059, -0.0361800082, -0.0054714605, 0.0756942853, 0.0...
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1987-03-16T09:02:32.840000
[]
[ "usa", "brazil", "u.s." ]
[ "loretta-neuhaus" ]
[ "salomon-brothers-inc", "merrill-lynch-capital-markets", "salomon", "reuters" ]
[]
U.s. corporate finance - bank paper pressured
Debt securities issued by major u.s. banks are under pressure in the secondary market as investors shy away from the paper because of brazil's suspension of interest payments last month, analysts and traders said. on february 20, brazil said it would suspend interest payments on 68 billion dlrs owed to foreign commercial banks. no date was established for the renewal of payments. "buyers have backed away from bank paper. these securities have become very difficult to sell despite a rise in their yields," said one corporate bond trader. "debt issues of major money center banks will probably continue to trade off until such time as the brazil situation is resolved," said loretta neuhaus, a vice president with merrill lynch capital markets. "i have not told any of our investors to stay away from the banks in general," she added. "but i have not received too many inquiries by prospective buyers lately either." traders said debt securities of u.s. banks that are perceived by investors to be heavily exposed to latin american debtor nations declined moderately in price last week. they said the difference between bids and offers widened. "there is not much trading of bank issues these days," an underwriter said, referring to the wider bid/offer spreads. however, he and others pointed out that the secondary market has not seen heavy selling by institutions, funds and other investors. "the selling has been steady over the past couple of weeks. but it has been far from panicky," said another trader. in addition, institutional sources told reuters on friday that salomon brothers inc lowered its investment ratings on the stocks of all u.s. money centers. but the sources said it is understood the action is not a sell recommendation. while institutional sources said salomon lowered the ratings to m from o-plus on bank stocks, bond traders said this carried over to the secondary market and further undermined confidence in bank paper. the
industry-news
finance
news
medium
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[ "latin-american" ]
[ -0.11456296590000001, 0.029749088000000003, -0.0074412185, 0.048005007200000005, 0.071588017, -0.0056513748, -0.0414388105, 0.0638822615, 0.0161948781, -0.0116632488, -0.0028960584, -0.0249493569, -0.0104228202, -0.0045913705, -0.06857299060000001, -0.0399908088, 0.0794940814, 0.00...
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1987-03-16T09:09:19.350000
[ "earn" ]
[ "usa" ]
[]
[ "cts" ]
[]
New world pictures ltd 4th qtr net
Shr 32 cts vs 21 cts net 4,717,000 vs 2,587,000 revs 72.9 mln vs 37.9 mln avg shrs 14.7 mln vs 12.6 mln year oper shr 75 cts vs 41 cts oper net 10.7 mln vs 4,642,000 revs 188.9 mln vs 106.6 mln avg shrs 14.2 mln vs 1.4 mln note: 1985 year net excludes 495,000 dlr tax credit. reuter
company-deals
finance
boilerplate-content
low
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[]
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1987-03-16T09:14:02.700000
[ "earn" ]
[ "usa" ]
[]
[ "cts" ]
[]
Lowrance electronics inc 2nd qtr jan 31
Shr profit 17 cts vs loss two cts net profit 520,000 vs loss 51,000 sales 11.1 mln vs 6,897,000 1st half shr profit 34 cts vs profit 12 cts net profit 951,000 vs profit 320,000 sales 20.6 mln vs 14.9 mln reuter
company-deals
news
news
low
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[]
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1987-03-16T09:14:09.830000
[ "earn" ]
[ "usa" ]
[]
[ "cts" ]
[]
Commtron corp 2nd qtr feb 28 net
Shr 16 cts vs 22 cts net 1,574,000 vs 1,725,000 sales 104.2 mln vs 116.0 mln avg shrs 10.1 mln vs eight mln 1st half shr 37 cts vs 37 cts net 3,675,000 vs 2,925,000 sales 244.5 mln vs 230.6 mln avg shrs 10.0 mln vs eight mln reuter
company-deals
news
news
low
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[]
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1987-03-16T09:14:20.490000
[ "veg-oil", "palm-oil" ]
[ "jakarta", "indonesia", "uk" ]
[]
[ "rbd-olein" ]
[]
Indonesia has imported palm oil, traders say
Indonesia has imported palm oil this year and is likely to take more, trade sources said. they were commenting on a weekend jakarta report quoting a ministry of trade spokesman as saying indonesia had not issued licences to import the commodity. he also said there was no sign of a shortage of palm oil in indonesia. a major palm oil dealer said he shipped malaysian palm oil to indonesia in february, additional vessels were loading this month and other vessels had been earmarked for april. other operators claimed they had palm oil booked for indonesia but would not disclose tonnages. traders said palm oil production in indonesia this year had been below expectations and current stocks were low. they said licences were issued at the start of the year to import crude palm oil but were subsequently revised to include rbd olein and rbd oil. last week there were rumours in european markets that indonesia had issued licences to import around 135,000 tonnes of palm oil for deliveries commencing april. an indonesian ministry of trade official said this was incorrect. some traders here said the total could be more. others said they could include those issued earlier this year and applications not yet granted. reuter
business-news
food-and-drink
news
medium
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[ "european", "indonesian", "malaysian" ]
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1987-03-16T09:14:25.930000
[ "earn" ]
[ "usa" ]
[]
[ "cts" ]
[]
Wholesale club inc 4th qtr jan 31 net
Shr profit two cts vs loss 16 cts net profit 558,000 vs loss 580,000 sales 66.2 mln vs 29.5 mln avg shrs 4,476,000 vs 3,615,000 year shr loss 61 cts vs loss 79 cts net loss 1,760,000 vs loss 2,180,000 sales 158.4 mln vs 76.3 mln avg shrs 4,475,000 vs 2,751,000 reuter
company-deals
news
news
low
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[]
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1987-03-16T09:14:41.840000
[ "earn" ]
[ "usa" ]
[]
[ "cts" ]
[]
Msa realty corp 4th qtr net
Shr profit four cts vs loss two cts net profit 247,970 vs loss 57,341 revs 2,393,622 vs 2,627,612 avg shrs 5,958,423 vs 2,440,100 year shr profit 71 cts vs loss 35 cts net profit 3,213,310 vs loss 849,180 revs 14,571,434 vs 9,099,767 avg shrs 6,177,666 vs 2,440,083 note: 1986 earnings include a loss from carryforward of investment tax credits of 85,000 dlrs in the quarter and a gain of 250,000 dlrs, or four cts a share for the year reuter
company-deals
news
product/company/organization/personal-websites
low
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[]
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1987-03-16T09:15:43.810000
[ "cpi" ]
[ "france" ]
[ "edouard-balladur", "jean-cheval", "michel-develle", "jacques-chirac" ]
[ "banque-paribas", "gaullist-prime" ]
[]
Economic spotlight -france awaits economic lift
A year after squeezing to power with a narrow bare coalition majority, gaullist prime minister jacques chirac has swept away a cobweb of controls and regulations choking the french economy. but france is still waiting for a promised industrial recovery the government says will follow from its free market policies. company profits and the stock market are rising. but so is unemployment. growth is stagnant at about two pct a year and the outlook for inflation, held to a 20-year low of 2.1 pct in 1986, is uncertain. forced last month to cut the government's 1987 growth target and raise its inflation estimate, finance minister edouard balladur ruled out action to stimulate the economy. but some government supporters say they fear time for an economic miracle may be running out. the political clock is ticking towards presidential elections due by april next year. france's economic performance, led by a mixed cast of right-wing ministers and a socialist president, has won mixed reviews from non-partisan analysts. for michel develle, director of economic studies at newly-privatised banque paribas, the government's outstanding achievement has been to launch "a veritable intellectual revolution" breaking the staid habits formed by centuries of state control. "the figures may look mediocre -- neither good nor bad -- but set in their context of structural reforms, they are excellent," develle said. but some analysts say they fear that balladur, chief architect of the government's free market policies, may be pursuing a mirage. "the belief that economic liberalism will produce an explosion of economic forces is ideological" said indosuez chief economist jean cheval. "personally i think it's an illusion. dirigisme (direction) is a basic fact of the french system, from school onwards. ultra-liberalism is impossible." illusion or not, the government has pushed its vision hard. over the past year foreign exchange and consumer price controls have
earnings-reports
news
news
medium
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[ "french" ]
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1987-03-16T09:18:36.030000
[]
[ "usa" ]
[]
[ "the-food-and-drug-administration" ]
[]
Spectra tests of new drug not encouraging
Spectra pharmaceutical services inc said current clinical studies of its proposed dry eye drug tretinoin have not produced encouraging results based on preliminary indications. the compnay said the tests are being conducted for submission to the food and drug administration for the drug which has the trade name lacramore. spectra said earlier studies showing dramatic improvements in isolated cases have still occurred. however, the overall evaluation of a large number of patients with dry eye syndrome do not demonstrate consistantly beneficial results, it added. spectra said it will continue its current studies, while at the same time undertaking a review of the feasability of the proposed product spectra, a development stage company, also said it has introduced its first proprietary product, a hyo-allergenic noniirritating cleanser for the cleaning of eyelids and eyelashes. the company said it has also begun marketing a line of ophthalmic drugs. reuter
financial-markets
health
news
medium
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[ "hyo" ]
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1987-03-16T09:20:00.800000
[ "earn" ]
[ "usa", "west-los-angeles" ]
[]
[ "cts" ]
[]
Everest and jennings international 4th qtr
Shr profit nine cts vs loss 58 cts net profit 738,000 vs loss 4,643,000 sales 50.9 mln vs 43.8 mln year shr profit 1.50 dlrs vs loss 61 cts net profit 12.1 mln vs loss 4,875,000 sales 195.3 mln vs 174.2 mln note: 1985 net both periods includes 4,952,000 dlr provision for plant closing. 1985 net includes gains on sale of west los angeles real estate of 650,000 dlrs in quarter and 1,471,000 dlrs in year. 1986 year net includes gains on sale of west los angeles real estate of 9,903,000 dlrs. reuter
company-deals
news
boilerplate-content
low
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