trade	asian exporters fear damage from japan rift mounting trade friction between the and japan has raised fears among many asia exporting nations that the row could inflict far reaching economic damage businessmen and officials said they told reuter correspondents asian capitals move against japan might boost protectionist sentiment the and lead curbs american imports their products but some exporters said that while the conflict would hurt them the long run the short term tokyo loss might their gain the has said will impose mln dlrs tariffs imports japanese electronics goods april retaliation for japan alleged failure stick pact not sell semiconductors world markets below cost unofficial japanese estimates put the impact the tariffs billion dlrs and spokesmen for major electronics firms said they would virtually halt exports products hit the new taxes wouldn able business said spokesman for leading japanese electronics firm matsushita electric industrial ltd the tariffs remain place for any length time beyond few months will mean the complete erosion exports goods subject tariffs the said tom murtha stock analyst the tokyo office broker james capel and taiwan businessmen and officials are also worried are aware the seriousness the threat against japan because serves warning said senior taiwanese trade official who asked not named taiwan had trade trade surplus billion dlrs last year pct with the the surplus helped swell taiwan foreign exchange reserves billion dlrs among the world largest must quickly open our markets remove trade barriers and cut import tariffs allow imports products want defuse problems from possible retaliation said paul sheen chairman textile exporters taiwan safe group senior official south korea trade promotion association said the trade dispute between the and japan might also lead pressure south korea whose chief exports are similar those japan last year south korea had trade surplus billion dlrs with the from billion dlrs malaysia trade officers and businessmen said tough curbs against japan might allow hard hit producers semiconductors third countries expand their sales the hong kong where newspapers have alleged japan has been selling below cost semiconductors some electronics manufacturers share that view but other businessmen said such short term commercial advantage would outweighed further pressure block imports that very short term view said lawrence mills director general the federation hong kong industry the whole purpose prevent imports one day will extended other sources much more serious for hong kong the disadvantage action restraining trade said the last year was hong kong biggest export market accounting for over pct domestically produced exports the australian government awaiting the outcome trade talks between the and japan with interest and concern industry minister john button said canberra last friday this kind deterioration trade relations between two countries which are major trading partners ours very serious matter button said said australia concerns centred coal and beef australia two largest exports japan and also significant exports that country meanwhile japanese diplomatic manoeuvres solve the trade stand off continue japan ruling liberal democratic party yesterday outlined package economic measures boost the japanese economy the measures proposed include large supplementary budget and record public works spending the first half the financial year they also call for stepped spending emergency measure stimulate the economy despite prime minister yasuhiro nakasone avowed fiscal reform program deputy trade representative michael smith and makoto kuroda japan deputy minister international trade and industry miti are due meet washington this week effort end the dispute reuter 
grain	china daily says vermin eat pct grain stocks survey provinces and seven cities showed vermin consume between seven and pct china grain stocks the china daily said also said that each year mln tonnes pct china fruit output are left rot and mln tonnes pct its vegetables the paper blamed the waste inadequate storage and bad preservation methods said the government had launched national programme reduce waste calling for improved technology storage and preservation and greater production additives the paper gave further details reuter 
ship	australian foreign ship ban ends but nsw ports hit tug crews new south wales nsw victoria and western australia yesterday lifted their ban foreign flag ships carrying containers but nsw ports are still being disrupted separate dispute shipping sources said the ban imposed week ago over pay claim had prevented the movement out port nearly vessels they said the pay dispute went before hearing the arbitration commission today meanwhile disruption began today cargo handling the ports sydney newcastle and port kembla they said the industrial action the nsw ports part the week action called the nsw trades and labour council protest changes the state workers compensation laws the shipping sources said the various port unions appear taking turn work for short time the start each shift and then walk off cargo handling the ports has been disrupted with container movements most affected but has not stopped altogether they said they said they could not say how long the disruption will and what effect will have shipping movements reuter 
gold	western mining open new gold mine australia western mining corp holdings ltd wmng wmc said will establish new joint venture gold mine the northern territory cost about mln dlrs the mine known the goodall project will owned pct wmc and pct local grace and gra unit located kms east the adelaide river bundey wmc said statement said the open pit mine with conventional leach treatment plant expected produce about ounces gold its first year production from mid annual ore capacity will about tonnes reuter 
acq	sumitomo bank aims quick recovery from merger sumitomo bank ltd sumi certain lose its status japan most profitable bank result its merger with the heiwa sogo bank financial analysts said osaka based sumitomo with desposits around trillion yen merged with heiwa sogo small struggling bank with estimated billion dlrs unrecoverable loans october but despite the link sumitomo president koh komatsu told reuters confident his bank can quickly regain its position back position first place within three years komatsu said interview said that while the merger will initially reduce sumitomo profitability and efficiency will vastly expand sumitomo branch network the tokyo metropolitan area where has been relatively weak but financial analysts are divided whether and how quickly the gamble will pay off some said sumitomo may have paid too much for heiwa sogo view the smaller bank large debts others argue the merger was more cost effective than creating comparable branch network from scratch the analysts agreed the bank was aggressive has expanded overseas entered the lucrative securities business and geared for domestic competition but they questioned the wisdom some those moves they made bold moves put everything place now largely out their hands said kleinwort benson ltd financial analyst simon smithson among sumitomo problems are limits placed its move enter securities business taking share american investment bank goldman sachs and sumitomo last august agreed pay mln dlrs for pct limited partnership the bank but for the time being least the federal reserve board has forbidden them exchange personnel increase the business they with each other the tie widely looked lame duck because the fed was stricter than sumitomo expected said one analyst but komatsu said the move will pay off time regulations will change the near future and can various things only have wait two three years not until the century komatsu said komatsu also willing patient about possible routes into the securities business home article the securities and exchange act japan version the glass steagall act separates commercial from investment banking but the walls between the two are crumbling and komatsu said hopes further deregulation will create new opportunities need find new business chances komatsu said some cases these will securities related some cases trust bank related that the kind deregulation want until such changes occur sumitomo will focus such domestic securities business profitable government bond dealing and strengthening relations with meiko securities ltd which holds five pct share komatsu said said sumitomo cautiously optimistic about entering the securities business here through its swiss universal bank subsidiary banca del gottardo the finance ministry expected grant licences securities subsidiaries commercial banks soon following similar decision for subsidiaries european universal banks which the parent holds less than pct but komatsu reluctant push hard for similar decision gottardo subsidiary don want make waves expect this will allowed two three years said like other city banks sumitomo also pushing expand lending individuals and small and medium businesses replace disappearing demand from big business added the analysts said sumitomo will have devote lot time digesting its most recent initiatives including the merger with ailing heiwa sogo sumitomo been bold its strategies said kleinwort smithson after that question absorbing and juggling around will the next decade before see the strategy right wrong reuter 
tin	subroto says indonesia supports tin pact extension mines and energy minister subroto confirmed indonesian support for extension the sixth international tin agreement ita but said new pact was not necessary asked reuters clarify his statement monday which said the pact should allowed lapse subroto said indonesia was ready back extension the ita can support extension the sixth agreement said but seventh accord believe unnecessary the sixth ita will expire the end june unless two thirds majority members vote for extension reuter 
ipi	china industrial output rises first quarter china industrial output rose pct the first quarter against the same period the people daily said its overseas edition said the growth rate which compares with target seven pct for the whole was rather high but the base the first quarter was the low side industrial output grew pct the first quarter said china industrial production this year has been normal but product quality and efficiency need further improvement gave further details reuter 
earn	amatil proposes two for five bonus share issue amatil ltd amaa said proposes make two for five bonus issue out its revaluation reserve shareholders registered may shareholders will asked approve the issue and increase authorised capital mln shares from mln general meeting may said statement the new shares will rank for dividends declared after october amatil which industries plc bti holds pct stake said does not expect maintain its latest annual dividend rate cents share the enlarged capital reuter 
earn	bowater pretax profits rise mln stg shr div making turnover billion stg billion pretax profit mln mln tax mln mln company name bowater industries plc bwtr trading profit mln mln trading profit includes packaging and associated products mln mln merchanting and services mln mln tissue and timber products mln mln interest debit mln mln minority interests mln debit mln debit extraordinary items mln credit mln debit reuter 
acq	cra sold forrest gold for mln dlrs whim creek whim creek consolidated said the consortium leading will pay mln dlrs for the acquisition cra ltd craa forrest gold pty ltd unit reported yesterday cra and whim creek did not disclose the price yesterday whim creek will hold pct the consortium while austwhim resources will hold pct and croesus mining pct said statement reported forrest gold owns two mines western australia producing combined ounces gold year also owns undeveloped gold project reuter 
jobs	german industrial employment seen stagnating the number workers employed the west german industrial sector stagnated the last quarter increase overall employment benefited only the services branch the diw economic institute said diw report added the general downturn the economy since last autumn had had negative effect the willingness firms take workers referred marked downturn the number workers taken the capital goods sector new orders for manufacturing industry goods have mostly fallen stagnated recent months but data for february finally showed reversal the trend with pct rise reuter 
earn	bowater industries profit exceed expectations bowater industries plc bwtr pretax profits mln stg exceeded market expectations around mln and pushed the company shares sharply high from last night dealers said the shares later eased back bowater reported mln stg profit the company said statement accompanying the results that the underlying trend showed improvement and intended expand further developing existing businesses and seeking new opportunities added that had appointed david lyon currently managing director redland plc rdld its new chief executive analysts noted that bowater profits mln stg from mln previously had been given boost pension benefits mln stg profit from australia and the far east showed the greatest percentage rise jumping pct mln from mln while the profit from operations rose pct mln and europe pct mln reuter 
earn	citibank norway unit loses six mln crowns citibank cci the norwegian subsidiary the based bank said made net loss just over six mln crowns although foreign bankers said they expect show profits after two lean years citibank oslo treasury head bjoern sejerstad told reuters citibank one seven foreign bank subsidiaries operating norway lost money because restructuring for investment banking away from commercial banking and economic slump norway following last year plunge oil prices foreign banks have been allowed operate susbidiaries norway since foreign banking analysts oslo said access norway second hand securities and equities markets approved later this spring and lower primary reserve requirements would make profit this year citibank lost crowns norway but sejerstad said profit was likely this year because planned liberalisation and better economic performance helped steadier oil price around dlrs barrel earlier this year chase manhattan bank cmb subsidiary decided stop foreign exchange trading after heavy losses and focus instead fee based merchant banking reuter 
earn	vieille montagne says conditions unfavourable sharp fall the dollar price zinc and the depreciation the currency created unfavourable economic conditions for vieille montagne vmnb said statement that the two factors led squeeze refining margins and pct fall sales and services income despite unchanged level activity vieille montagne which actively pursuing restructuring program reported mln franc net loss after mln francs provisions for the closure electrolysis plant compared with mln franc net profit reuter 
earn	vieille montagne reports loss dividend nil year net loss after exceptional charges mln francs profit mln exceptional provisions for closure viviez electrolysis plant mln francs exceptional gain mln sales and services billion francs billion proposed net dividend ordinary shares nil francs company full name vieille montagne vmnb reuter 
tin	mainly for tin extension stand taken european community members the international tin council except britain have said they are prepared back extension the international tin agreement spokesman said said meeting states representatives here yesterday britain undertook communicate its own decision its partners today said was not ready yesterday take stand but did not say why added nine other states backed extension spain and portugal which are not members the international tin council raised objections common stance favour reuter 
trade	japan given little hope avoiding sanctions top official said japan has little chance convincing the drop threatened trade sanctions despite the efforts japanese team that left for washington today michael armacost under secretary state for political affairs was asked press conference whether japan moves boost its domestic economy and open its markets could persuade the not impose tariffs japanese imports said and replied probably too early for the figures demonstrate that the situation has turned around and permit the result you have described armacost said the hopes japan will take steps lift its domestic economy and reduce dependence exports remove barriers imports and settle outstanding trade issues there are obvious problems the moment the trade area but not wish those problems divert attention from important areas cooperation that continue exist security and political issues said the question whether through cooperative actions between our governments can reduce the trade imbalance whether congress takes action reduce through protectionist legislation said reuter 
zinc	thai zinc exports fall march thai zinc ingot exports fell tonnes march from february and march the mineral resources department said spokesman for padaeng industry ltd the country sole exporter attributed the decline the company lower stocks which averaged tonnes the first quarter against tonnes late when began exporting the department said major buyers included china japan the philippines south korea singapore and taiwan thailand exported tonnes zinc ingots during the first quarter down from year ago reuter 
sugar	sugar tender hard predict london trade the outcome today european community white sugar tender extremely difficult predict after last week substantial award tonnes the highest ever rebate european currency units ecus per kilos traders said some said they believed the tonnage would probably smaller around tonnes but declined give view the likely restitution last week the european commission accepted tonnes sugar into intervention operators protesting about low rebates this might determining factor today result they added reuter 
sugar	north yemen calls sugar buying tender trade north yemen has called buying tender for saturday for the purchase tonnes white sugar for arrival june traders said reuter 
acq	anheuser busch joins bid for san miguel anheuser busch companies inc bud has joined several other foreign bidders for sequestered shares the philippines largest food and beverage maker san miguel corp sanm the head government panel which controls the shares told reuters ramon diaz secretary the presidential commission good government pcgg said anheuser busch had told the government was interested buying mln shares san miguel did not disclose the offered price diaz said australian brewer alan bond bond corp holdings ltd had offered pesos per share for the shares diaz said new york investment bank allen and inc had earlier said was interested buying all mln sequestered shares told reuters last month elders ixl ltd elxa the melbourne based brewing company had also bid for the shares the hong kong economic journal last month quoted spokesman australian stock broker jacksons ltd saying that barwon farmlands ltd australian firm owned pct ariadne australia ltd was planning filipino branch order buy the entire block mln shares anheuser busch last year made mln dlr bid buy san miguel brewery ltd hong kong listed company which pct owned neptunia corp ltd san miguel corp subsidiary the talks broke down last june after the two sides said they could not agree the terms the sale reuter 
earn	jardine matheson said sets two for five bonus issue replacing shares 
acq	monier says britain redland may bid for diversified building materials group monier ltd mnra said talks are taking place which may lead britain redland plc rdld making offer for the monier shares does not already hold chairman bill locke said redland already holds about pct monier mln issued shares said brief notice the australian stock exchange locke said shareholders would advised soon the discussions progressed and recommended that they keep their shares monier shares were trading high dlrs today from the previous peak yesterday close and well above the low dlrs monier the largest concrete roof tile manufacturer australia the and new zealand and the world largest marketer fly ash according its annual report for ended june recently reported first half net fell mln dlrs from mln year earlier due the australian housing downturn although foreign earnings rose reuter 
earn	isuzu plans interim dividend isuzu motor ltd isum will pay dividend for the first half year ending april the company expected mark billion yen parent company current loss the first half due slow exports caused the yen appreciation company spokesman said the company has paid dividend since the year ended october when paid five yen had billion yen current profit the first half reuter 
trade	japanese official takes data microchip talks ministry international trade and industry miti vice minister makoto kuroda leaves for washington today with data hopes will refute charges japan has violated pact microchip trade three man japanese trade team already washington laying the groundwork for talks between kuroda and deputy trade representative michael smith aimed persuading the not impose tariffs certain japanese products but kuroda said taking new proposals have nothing briefcase except explanation the current situation kuroda told the daily newspaper asahi shimbun kuroda said the decision was based incorrect data and exaggerated sense miti power control market forces the has excessive expectations stabilise supply demand relations which have been disrupted excess inventories since will take some time said kuroda also laid part the blame for low chip sales japan lack effort american firms here said fails talks tomorrow and friday forestall sanctions will seek further talks with trade representative clayton yeutter officials said this week talks are unlikely delay imposition tariffs reuter 
acq	bell group confirms standard chartered stake the bell group ltd blla said now holds pct the issued capital standard chartered plc stch after acquiring further shares the one sentence statement from bell headquarters confirmed what its brokers warburg securities told reuters london yesterday bell previously held pct standard bell chairman robert holmes court who also director standard was not available for comment his company intentions boosting its holding and other company officials contacted here reuters declined comment reuter 
acq	nippon steel denies china seeking japanese plants nippon steel corp nstc denied local newspaper reports that china has been seeking buy steel plants from japanese firms which plan suspend output under the recently announced rationalisation program the mainichi shimbun quoted nippon steel saying that china state planning commission and some chinese firms have asked japanese makers sell them steel works and rolling mills expand steelmaking cheaply named sources nippon steel spokesman told reuters that china has made such official request and the company was not considering such sales the moment but mainichi quoted nippon steel officials saying prices are reasonable they would export their used mills china the paper said china crude steel output totalled mln tonnes calendar and that plans increase mln japan steel industry rationalisation plan aimed cutting production capacity sharply over the next few years reuter 
earn	jardine matheson replaces share bonus issue jardine matheson holdings ltd jard said will withdraw the previously announced four for one bonus issue shares and replace two for five bonus issue ordinary shares statement said the firm expects pay total dividends for not less than cents share the expanded capital jardine matheson decided withdraw its issue because joint announcement earlier today ronald chairman the stock exchange hong kong and securities commissioner ray astin that the listings new shares would barred the official announcement said this will include the proposal jardine matheson but the jardine statement quoted chairman simon keswick saying continue believe that the issuing shares would benefit shareholders and regret that they will not given the opportunity vote the matter this stage keswick said the share issue will benefit jardine matheson shareholders giving the firm flexibility issue ordinary shares for expansion future without diluting existing shareholders voting rights however added certainly welcome the secretary for monetary affairs david nendick referral this very important matter the standing committee company law reform and are hopeful that the process will lead the development general principles which can embraced all constituents the hong kong market reuter 
trade	japan given little hope avoiding sanctions top official said japan has little chance persuading the drop threatened trade sanctions despite the efforts japanese team that left for washington today michael armacost under secretary state for political affairs was asked press conference whether japan moves boost its domestic economy and open its markets could persuade the not impose tariffs japanese imports said and replied probably too early for the figures demonstrate that the situation has turned around and permit the result you have described armacost said the hopes japan will take steps lift its domestic economy and reduce dependence exports remove barriers imports and settle outstanding trade issues there are obvious problems the moment the trade area but not wish those problems divert attention from important areas cooperation that continue exist security and political issues said the question whether through cooperative actions between our governments can reduce the trade imbalance whether congress takes action reduce through protectionist legislation said reuter 
cpi	indonesian inflation rate pct inflation was pct indonesia during fiscal march compared pct the previous year information minister harmoko said after cabinet session discuss the economic situation reuter 
acq	san miguel deal hit more lawsuits bid san miguel corp smc sanm buy back mln sequestered shares from united coconut planters bank ucpb has been hit two new lawsuits sources the philippine food and brewery company said manila court yesterday issued injunction barring ucpb from selling the shares which represent pct smc outstanding capital stock mln shares until hearings april petition filed eduardo cojuangco former chairman both smc and ucpb cojuangco said the coconut industry investment fund ciif and mln farmers were the rightful owners the shares cojuangco said the shares were held trust ucpb and represented blue chip investment his petition said ucpb plans sell the shares smc were serious breach fiduciary duties the smc sources said the proposed share sale could also held second derivative suit filed before the securities and exchange commission sec eduardo los angeles government nominee the company board los angeles who represents smc minority stockholders asked the sec block the transaction approved last week the company board april the board sanctioned the repurchase the sequestered shares for billion pesos pesos per share los angeles told the sec the company retained earnings billion pesos would wiped out the purchase the shares and would prevent the declaration dividends los angeles said the share purchase would also violate smc agreement with its creditors maintain debt equity ratio quoted smc chief financial director ramon del rosario telling the board that the transaction would boost the ratio petitioning the sec los angeles amended earlier suit two weeks ago which charged smc chairman andres soriano iii and nine other directors violating their duties los angeles earlier complaint related smc assuming last december mln dlr loan contracted smc hong kong subsidiary neptunia corp for down payment the shares the loan assumption was again ratified last week board meeting arbitration panel set president corazon aquino resolve the ownership issue expected submit its report april the amended suit filed eduardo los angeles part continuing attempt certain elements complete disregard the facts and with questionable motives delay early disposition the sequestered shares san miguel corp said statement coming does when san miguel corp and ucpb have reached agreement the price the shares and the method payment this suit direct contravention the government expressed desire reach amicable settlement the controversy april the statement added san miguel spokesman said had comment cojuangco court petition adding any statement coming from might interpreted adversarial meanwhile ramon diaz the head government panel which sequestered the shares last year said soriano was not eligible buy the major portion the shares because was united states citizen the sequestered shares are split into mln shares which can only owned filipinos and mln shares which are available foreign buyers smc sources said soriano personally was not among prospective buyers they said the shares would purchased the soriano group companies smc neptunia and unnamed institutional investors soriano was named one the buyers bid march for mln shares controlled ucpb the sale was aborted when diaz presidential commission good government sequestered the shares suspicion they were owned cojuangco close associate former president ferdinand marcos cojuangco lives self imposed exile the the shares grew mln after pct stock dividend announced last june have objection soriano buying the shares diaz told reuters but everything hold now the smc spokesman said did not know the controversy would resolved before the company annual stockholders meeting scheduled for may san miguel corp reported sales revenue billion pesos pct above its billion peso sales said unaudited net profit was the neighbourhood mln pesos increase about pct over reuter 
sugar	rain boosts central queensland sugar cane crop good rains one four inches the past days have boosted moisture stressed sugar cane crops the mackay burdekin region queensland central coast australian sugar producers association spokesman said previously reported the region has been undergoing severe dry spell partly relieved scattered rainfall since december following the virtual failure the summer wet season mills the area have been reporting that their crops are beginning look healthy and greener and are putting growth since the rains began the spokesman said from brisbane although the mackay burdekin crop outlook much better than was there will some cane losses the spokesman said but too early say what they will and more rain needed restore sub soil moisture elsewhere far north queensland the bundaberg region and southern queensland the cane excellent condition and some mills are forecasting record crops said initial crop estimates will probably compiled towards the end may said the cane crush normally runs from june december reuter 
sugar	french traders forecast sugar tender the european community expected award export licences today weekly tender for above and possibly tonnes white sugar after last week award for tonnes traders here said they expected maximum rebate between and ecus per kilos compared last week earlier traders london said the outcome the tender was very hard predict after last week substantial award and the placing tonnes sugar into intervention they said they believed the tonnage would around but declined give rebate figure reuter 
earn	italy fondiaria report higher profits italian insurer fondiaria spa lfdi said expects report consolidated group profit significantly higher than the billion lire reported the company said statement that parent company net profit last year will rise from the billion lire reported consolidated group premiums totaled billion lire compared with billion the previous year iniziativa meta inzi the financial services unit montedison spa moni controls the largest single stake florence based fondiaria with pct reuter 
nickel	nickel prices unlikely rise much shearson nickel prices are unlikely rise significantly from current levels unless further steps are taken reduce production shearson lehman brothers said its quarterly nickel market report the market had recovered slightly around dlrs yesterday from its four year low dlrs early january due the absence soviet nickel cathode deliveries but shearson sees soviet shipments soon returning last year buoyant levels which should ease current tightness output reductions producers will take effect later this year but are likely offset increases elsewhere shearson said the nickel market will virtually balance during with total non socialist world demand tonnes compared with estimated tonnes production tonnes and imports from socialist countries tonnes forecast prices will edge higher during the year from first quarter average dlrs dlrs the last quarter the year average will around dlrs compared with dlrs using london metal exchange cash metal prices dollar terms and assuming average sterling exchange rate dlrs reuter 
earn	higher profit for dutch chemical firm dsm the fully state owned dutch chemical firm dsm dsmn said its net profit rose mln guilders from mln while turnover fell billion guilders from billion the company said dividend which will paid the dutch state its capacity the firm sole shareholder would raised mln guilders from mln guilders initial comment its results dsm said the drop turnover had been caused mainly losses the company fertilizer division reuter 
acq	cincinnati bell csn starts auxton auxt bid cincinnati bell inc said has started its previously announced dlr per share tender offer for all shares auxton computer enterprises inc newspaper advertisement the company said the tender and withdrawal rights will expire may five unless extended the offer which has been approved the auxton board and followed merger the same price conditioned receipt majority auxton voting stock fully diluted basis reuter 
earn	california biotech cbio sees qtr loss california biotechnology inc said expects report loss dlrs dlrs for the first quarter due increased investment research and manufacturing and scaleup production the company said research spending running pct above year ago tries commercialize its products quickly possible and increased expenditures are expected continue for several more quarters said operating results will fluctuate quarter quarter depending the timing significant payments from commercial partners the first three months the company lost dlrs the company changed its fiscal year calendar year from year ending november for the first quarter last year ended february california biotech earned dlrs reuter 
earn	pall corp pll sets quarterly dividend qtly div cts cts prior pay may one record april reuter 
acq	unilever seeks buyer for stauffer chemical unilever plc and has issued prospectus through investment bankers goldman sachs and seeking buyer for stauffer chemical the which acquired with the recent takeover chesebrough pond inc unilever spokesman said noted unilever has been indicating plans dispose stauffer plus some smaller assets chesebrough since the bid was made december the stauffer sale prospectus has been sent recent weeks number companies expressing interest the unilever spokesman declined say how much the group expected receive for stauffer chesebrough footwear and tennis racket businesses are also likely disposed added immediately available financial information stauffer which wholly owned was limited added nine month sales september were about billion dlrs unilever aquired chesebrough for billion dlrs order benefit from its well known toiletry brands and food products reuter 
acq	conrac corp said has entered talks its acquisition with several parties 
acq	conrac cax merger talks with several conrac corp sait has started negotiations with several interested parties its possible acquisition said there can assurance that any transaction will result from the talks gave further details mark industries inc started tendering for all conrac shares dlrs each march and owned pct conrac before starting the bid conrac producer and marketer computer related information display and communications equipment which also produces special purpose architectural and industrial products owns code phone corp producer telephone answering machines for the company reported profits mln dlrs dlrs share sales mln dlrs has nearly mln shares outstanding reuter 
earn	computer research inc core qtr feb net shr cts nine cts net revs half shr cts cts net revs reuter 
ship	australian foreign ship ban ends tug crews new south wales nsw victoria and western australia yesterday lifted their ban foreign flag ships carrying containers but nsw ports are still being disrupted separate dispute shipping sources said the ban imposed week ago over pay claim had prevented the movement out port nearly vessels they said the pay dispute went before hearing the arbitration commission today meanwhile disruption began today cargo handling the ports sydney newcastle and port kembla they said the industrial action the nsw ports part the week action called the nsw trades and labour council protest changes the state workers compensation laws reuter 
earn	rubbermaid inc qtr shr cts cts 
ship	independent chairman for dutch cargo dispute the two sides the rotterdam port general cargo dispute have agreed appoint independent chairman han lammers preside over future meetings employers spokesman gerard zeebregts said lammers queen commissioner for the province flevoland will not act mediator but will draw agenda and procedures for meetings between the employers and unions work practice agreement and proposed redundancies two months strikes the sector began january protest employers proposals for redundancies from the strong workforce this year the strikes were called off the main port union fnv march following amsterdam court interim injunction against the redundancies procedural grounds the court due make final ruling may but zeebregts said expected the judgment against the employers and they were therefore very likely restart the complicated legal redundancy procedures the near future meanwhile the dispute over new work practice agreement the port grain sector continued with maintenance workers strike although loading was not affected spokesman for graan elevator mij the largest employer the sector said the employers have written the union asking reconsider its position and meeting union members has been called for tomorrow reuter 
earn	electro rent corp elrc qtr feb net shr cts cts net revs mln mln avg shrs nine mths shr cts dlrs net revs mln mln avg shrs reuter 
earn	rubbermaid inc rbd qtr net shr cts cts net mln mln sales mln mln reuter 
earn	wtc international inc waf qtr feb net shr profit cts loss cts net profit loss rev mln mln year shr profit cts loss cts net profit loss rev mln mln reuter 
earn	mead corp qtr oper shr dlrs cts 
earn	rubbermaid rbd sees continued improvement rubbermaid inc said its incoming order rates continue strong and expects continue recording favorable year year comparisons each remaining quarter today the company reported first quarter earnings mln dlrs sales mln dlrs from earnings mln dlrs sales mln dlrs reuter 
earn	cayuga savings bank cayb qtr net shr cts cts net avg shrs reuter 
earn	johnstown savings bank fsb jsbk qtr net shr cts not given net note company went public october net includes pretax loan loss provisions dlrs dlrs and gain sale securities dlrs dlrs reuter 
earn	home savings and loan association inc hsld qtr march shr cts not given net half shr dlrs not given net note company recently went public reuter 
earn	geodynamics corp gdyn qtr feb net shr cts cts net revs nine mths shr cts cts net revs mln mln reuter 
jobs	swedish unemployment steady march swedish unemployment was steady pct the workforce march compared with the previous month the central bureau statistics said march the figure stood pct reuter 
earn	compaq cpq expects higher first quarter net compaq computer corp said expects sales and earnings for the first quarter higher than analysts expectations due strong demand for its products rod canion president and chief executive officer compaq said expects sales over mln dlrs for the period ending march above analysts estimates mln dlrs added that earnings per share would exceed analysts estimates high cts share compaq reported earnings mln dlrs cts share and sales mln dlrs for the first quarter the company said demand for its deskpro portable iii and the new compaq deskpro will contribute the sales increase the initial demand for the recently introduced compaq portable iii and the new models the compaq deskpro exceeds that any other compaq personal computers canion said saw continued demand for our personal computers across the quarter with march being particularly strong month reuter 
acq	international sell insurance units international said reached preliminary agreement sell the hawaiian insurance cos hawaiian electric industries inc terms the transaction were not disclosed the company said the transaction subject the execution definitive agreements certain governmental approvals and approvals the boards directors involved international said hawaiian electric said the planned purchase was part its strategy increase the company investment selected service industries hawaii including financial services reuter 
earn	cxr telcom corp cxrl qtr march net shr nil nil net revs nine mths shr one nil net revs reuter 
acq	proxmire outlines insider trading legislation senate banking committee chairman william proxmire wis said planned introduce legislation shortly require greater public disclosure corporate takeovers and fairer treatment for all shareholders speaking the national association manufacturers proxmire said recent insider trading stock scandals increased the chance that congress will act curb abuses are proposing legislation that would provide for more disclosure would fairer all shareholders and would insure that takeovers are properly financed said among the provisions the bill would reduce the threshold for notifying the securities and exchange commission that investor group has acquired percentage stock company three pct from the current five pct threshold within days proxmire said addition there would pre notificaton requirement that investor intended aquire three pct that would have filed with the sec proxmire said the pre notification requirement was meant prevent arbitragers from having jump the general public knowing about coming takeover attempts proxmire said would call for extending the period that tender offer must kept open under the williams act business days from the current business days his bill would provide for private suits the acquiring company violated the time period the tender offer correct abuses the financing takeovers proxmire said the legislation would aim insuring current margin requirments are properly enforced the federal reserve board has pct margin requirement for purchasing stock but proxmire said not generally enforced hostile takeovers rather the groups individuals leading takeover declare that they can raise the capital for takeover without actually putting any their own money proxmire said said his bill would allow private suits for damages for failure meet the federal reserve pct margin requirements the bill also would require more disclose when several investors form alliance hostile takeover when pickens and icahn get together want people know about proxmire said proxmire said favored the approach used britain towards two tiered tender offers that insures that all shareholders recieve equal treatment said expected amendments the bill also would cover defensive mechanisms such green mail and poison pills proxmire said intended introduce his bill later this month and predicted the senate committee would act this spring said was hopeful congress could pass bill this year reuter 
earn	helen troy corp hele qtr feb net shr cts cts net sales mln avg shrs year oper shr profit dlrs loss cts oper net profit loss sales mln mln avg shrs note latest year net excludes dlr tax credit reuter 
earn	bankers trust puts brazil non accrual bankers trust new york corp said has placed its approximately mln dlrs medium and long term loans brazil non accrual status and that first quarter net income will reduced about seven mln dlrs result brazil suspended interest payments its billion dlrs medium and long term debt february banking regulations not require banks stop accruing interest loans until payments are days overdue but bankers trust said acted now because the high potential continued suspension that would result reaching the day limit the second quarter assuming cash payments current interest rates are received for the rest bankers trust estimated that full year net income would reduced about mln dlrs bankers trust said assumes that debt negotiations between brazil and its commercial bank lenders will lead the resumption interest payments the negotiations resume new york friday when central bank governor francisco gros expected ask banks for day rollover some billion dlrs term debt that matures april reuter 
earn	first mercantile currency fund inc qtr net shr profit cts cts net revs reuter 
sugar	intervention says sold tonnes white sugar rebate ecus 
money-fx	stoltenberg sees moves strengthen paris accord west german finance minister gerhard stoltenberg said today meetings major industrial countries would look ways strengthening the paris accord stabilizing foreign exchange rates stoltenberg told journalists saw fundamental weakness the february agreement the group five countries and canada keep exchange rates near the then current levels but declined say what measures would discussed ahead communique the group seven ministers later today stoltenberg and bundesbank president karl otto poehl said the importance the paris agreement also known the louvre accord had been underestimated stoltenberg said there greater agreement now among major countries than six months ago the time the annual meeting the international monetary fund and world bank marked sharp discord between the united states and its major trading partners there fundamental weakness the paris accord said will looking ways strengthening but not want discuss that here stoltenberg said the louvre agreement was working despite slight firming the yen against the dollar and poehl noted that the dollar mark parity was unchanged since february without the bundesbank having had sell marks support the dollar the louvre agreement has been honored the market said poehl said west germany had lived its side the bargain paris preparing the way for tax cuts accelerated way stimulating growth poehl said however that japan had not yet fulfilled its pledges for economic stimulation and will have see the united states able what they promised paris reducing the budget deficit and get through congress added stoltenberg reiterated west german concern about further fall the dollar noting that the mark was pct against the dollar and nearly pct trade weighted basis you cannot expect that unnoticed economy and not just german problem european problem said reuter 
sugar	intervention board details sugar sales total tonnes current series white sugar received export rebates maximum european currency units ecus per kilos today european community tender the intervention board said out this traders the received tonnes france west germany belgium spain and denmark tonnes added earlier today london traders had declined give projected view the level subsidy although some said total tonnage awards would around tonnes paris traders foresaw between and tonnes being authorised for export ecu subsidy cumulative sales authorisations for the current season now stand tonnes weeks last week saw tonnes whites authorised for export under licences end sep the higest ever rebate european currency units ecus per kilos reuter 
earn	mead mea expects improved earnings this year mead corp said the outlook for its major paper markets looks strong for the second quarter and augurs well for its earnings the generally strong outlook bodes well for significantly improved earnings this year burnell roberts chairman and chief executive officer said earlier the company reported first quarter earnings mln dlrs dlrs share versus mln dlrs cts share last year first quarter the company reported earnings from continuing operations mln dlrs dlrs share mead said its first quarter benefitted from stronger market conditions and improved operations the combination capital improvement programs and more employee involvement has been paying off throughout our paper operations roberts said added that mead pulp and paperboard businesses are operating well prices have improved and strong demand has placed most products sold out position through the middle the year mead said sales its unbleached coated paperboard was particularly strong pct versus the first quarter reuter 
earn	amertek inc atekf qtr net shr profit cts loss three cts net profit loss revs reuter 
earn	alex brown inc absb qtr march net shr primary cts cts shr diluted cts cts qtrly div six cts five cts net revs mln mln note pay date for the qtrly div april for shareholders record april reuter 
earn	town and country jewelry manufacturing tcjc thh qtr feb shr cts cts net sales mln mln avg shrs year shr dlrs dlrs net sales mln mln avg shrs note town and country jewelry manufacturing corp reuter 
acq	paxar corp paks makes acquisition paxar corp said has acquired thermo print gmbh lohn west germany distributor paxar products for undisclosed terms reuter 
earn	mark work wearhouse ltd year jan net shr cts cts net sales mln mln reuter 
acq	canadian bashaw erskine resources merge canadian bashaw leduc oil and gas ltd said agreed merge with erskine resources ltd terms were not disclosed ownership the combined company with pct for the current shareholders canadian bashaw and pct the current shareholders erskine the companies said reuter 
earn	entourage entg has first quarter loss entourage international inc said had first quarter loss dlrs after incurring dlrs costs for internal audit report for shareholders and proxy soliciation and dlrs startup expenses for opening london offices the company went public during entourage also said has started marketing solid perfume packaged lipstick tube called amadeus retailing dlrs the company also said has acquired north country media group video productions company reuter 
earn	jax fashions inc year feb net shr cts cts net sales mln mln reuter 
earn	woolworth says hikes dividend cts share from cts 
earn	woolworth hikes dividend qtly div cts cts prior pay june record may reuter 
sugar	dutch sugar beet planting half finished roughly half this year expected hectare dutch sugar beet crop already the ground spokesman for suiker unie the largest sugar processor the netherlands told reuters conditions are generally good and the average sowing date for the crop expected around april against april last year and year average april the spokesman added far too early yet say what kind output can expect when comes harvest september but least the crop off very good start said last year the netherlands planted record hectares sugar beet and produced record mln tonnes white sugar substantially more than the country combined and quota tonnes this year however self imposed quota system has been introduced with the aim cutting plantings hectares and reducing white sugar output around tonnes minimise the amount non quota sugar produced only farmers with record growing suger beet have been allotted quotas this expected prevent the area being boosted dairy cereal farmers moving into sugar reuter 
earn	morgan and inc qtr shr dlrs dlrs 
sugar	commission details sugar tender the commission confirmed granted export licences for tonnes current series white sugar maximum export rebate european currency units ecus per kilos out this traders france received tonnes the west germany belgium spain and denmark tonnes reuter 
earn	volkswagen dividend decision due tomorrow volkswagen vowg due make formal announcement about its dividend tomorrow after saying the level marks per ordinary share would held despite massive losses because suspected foreign currency fraud spokesman said supervisory board will meet tomorrow discuss the payout statement will made afterwards has also said disclosed profits for will reach their level despite provisions possible mln marks linked the currency affair the figure virtually the same the mln mark parent company net profit when first confirmed the currency scandal march said the management board would propose unchanged mark dividend the supervisory board dividend marks would proposed for the company new preference shares share analysts said they saw supervisory board approval the management board proposal virtually formality anything else would more than surprise one said company sources said would have dig into reserves maintain the disclosed profit parent company reserves stood around three billion marks end reuter 
earn	citytrust bancorp inc citr qtr net shr dlrs dlrs net avg shrs reuter 
acq	southmark acquires nursing homes southmark corp said acquired long term care facilities containing for approximately mln dlrs cash said the facilities which contain approximately beds seven western states were bought from don bybee and associates salem ore the acquistion brings health care facilities acquired the last three months the company said reuter 
earn	morgan and inc jpm qtr net shr dlrs dlrs net mln mln assets billion billion loans billion billion deposits billion billion return assets pct pct return common equity pct pct note qtr net was reduced mln dlrs because billion dlrs loans brazil were placed non accrual loan loss provision mln dlrs mln year earlier reuter 
earn	firstbanc corp ohio fboh qtr net shr cts cts net reuter 
earn	mayfair super markets inc myfra qtr net qtr ends feb shr class cts cts shr class cts cts net revs six mths shr class dlrs cts shr class dlrs cts net revs note qtr and six mths prior figures reflect two for one stock split august reuter 
earn	hanover insurance hins get split approval hanover insurance said its stockholders approved two for one stock split result the split hanover said increases the number authorized shares capital stock from mln having par value one dlr mln also having par value one dlr the stock split payable april stockholders record april hanover said reuter 
acq	national guardian natg makes acquisitions national guardian corp said has acquired number security services companies recently with aggregate revenues about dlrs for aggregate cost about dlrs said acquired guard service companies security gaurd service paramus from cartel security consultants inc the guard services division security services america wayne capital investigations and protective agency hackensack and meyer detective agency inc national park the company said bought alarm service operations certified security services inc key west fla custom security services myrtle beach security group inc houston and the louisville kent and nashville tenn offices wells fargo alarm services reuter 
earn	universal medical umbiz distribution set qtly distribution cts cts prior excluding cts special pay april record april note full name universal medical buildings reuter 
acq	wedgestone realty wdg acquisition approved wedgestone realty investors trust said shareholkders have approved the acquisition its advisor wedgestone advisory corp for shares said completion expected take place april reuter 
heat	sun sun cuts heating oil barge price sun sun refining and marketing subsidiary said decreasing the price charges contract barge customers for heating oil harbor cent gallon effective today the cent gallon price reduction brings sun heating oil contract barge price cts gallon the company said reuter 
jobs	dutch adjusted unemployment rises march dutch seasonally adjusted unemployment rose the month end march total from end february but was well down from end march social affairs ministry figures show the figure for male jobless rose the month compared with year earlier the figure for women was end march against month earlier and end march unadjusted basis total unemployment fell the month end march march the figure was ministry spokesman said the unadjusted figures showed smaller than usual seasonal decrease for the time year because particularly cold weather delaying work the building industry said this explained the increase the adjusted statistics total vacancies available rose end march year earlier the figure was reuter 
earn	hartmarx corp hmx boosts dividend chicago april qtly div cts cts prior qtr pay may record may 
money-fx	top officials arrive treasury for talks top officials leading industrial nations arrived the treasury main building begin meeting the group five officials seen arriving reuter correspondents included west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl french finance minister edouard balladur and his central banker jacques larosiere also seen arriving were japanese finance minister kiichi miyazawa and japan central bank governor satoshi sumita and british chancellor the exchequer and central bank governor robin leigh pemberton there was immediate sign italian canadian officials monetary sources have said fully blown meeting the group seven expected begin around local time gmt and last least until gmt when communique expected issued italian sources said italian acting finance minister giovanni goria met treasury secretary james baker last night those talks baker apparently convinced goria who declined attend the february meeting the group seven paris that italy would participate fully any meaningful decisions reuter 
interest	fed expected set customer repurchases the federal reserve expected intervene the government securities market supply temporary reserves indirectly via customer repurchase agreements economists said economists expect the fed execute billion dlrs customer repos offset pressures from the end the two week bank reserve maintenance period today some also look for permanent reserve injection offset seasonal pressures via outright purchase bills coupons this afternoon the federal funds rate opened pct and remained that level from yesterday pct average reuter 
acq	reader digest association sells unit the reader digest association inc said sold its subsidiary source telecomputing corp the venture capital firm welsh carson anderson and stowe the purchase price was not disclosed reader digest said said purchased pct stake source and earned unspecified profit mln dlrs revenues reuter 
earn	weis markets inc wmk qtr march net shr cts cts net mln mln revs mln mln reuter 
earn	continental bank initial distribution approved continental bank canada said shareholders approved capital reorganization allow initial payout the end may common shareholders from last year mln canadian dlr sale most continental assets lloyds bank plc lloyds bank canada the bank said the initial distribution would take the form stock dividend cumulative redeemable retractable class series two preferred shares entitling holders monthly floating rate dividends pct prime and dlrs share retraction continental said the initial payout was subject canadian government approval the bank reiterated that total distributions common shareholders would range from dlrs share dlrs including the initial stock dividend and final distribution late early the payout existing preferred shareholders will completed just before next month initial distribution common shareholders continental added reuter 
earn	atlas consolidated mining and development acmb qtr shr loss cts loss cts net loss mln loss mln revs mln mln year shr cts dlrs net loss mln loss mln revs mln mln note atlas consolidated mining and development corp manila translated from philippine pesos pesos dollar quarter and year reuter 
acq	sci med smls board agrees bristol bmy deal sci med life systems inc said its directors approved previously proposed agreement merger with bristol myers the proposed transaction subject completion due diligence investigation including review bristol myers patent infringement suit served sci med advanced cardiovascular systems inc march bristol myers has the right call off the agreement under certain circumstances said sci med said continues believe the patent suit without merit reuter 
acq	fidelcor ficr completes sale unit fidelcor inc said has completed the sale its industrial valley title insurance subsidiary group investors including the unit management for undisclosed terms industrial valley has assets about mln dlrs and was acquired last year along with ivb financial corp reuter 
earn	data translation inc datx qtr feb net shr cts cts net sales avg shrs reuter 
earn	fidata corp fid qtr loss shr loss two cts profit cts net loss profit revs mln year shr profit dlrs profit cts net profit mln profit revs mln mln note net includes pretax securities sale gain dlrs loss dlrs quarter and gain dlrs loss dlrs year net includes pretax gains sale businesses nil dlrs quarter and mln dlrs dlrs year net includes pretax losses disposition product line nil dlrs quarter and dlrs dlrs year quarter net includes tax credits dlrs dlrs net includes reversal tax loss carryforwards dlrs dlrs quarter and tax loss carryforwards dlrs dlrs year reuter 
earn	marble financial corp mrbl qtr net oper shr cts not given oper net note net excludes dlr gain from termination pension plan company went public august reuter 
acq	dominion textile calls report bid for burlington rumor 
earn	raytheon qtr shr dlrs dlrs 
earn	fleet financial group qtr shr cts cts 
earn	diebold inc dbd declares dividend qtly div cts cts prior pay june record may reuter 
earn	independent bank corp ibcp regular dividend qtly div cts cts previously pay april record april reuter 
earn	raytheon rtn qtr net shr dlrs dlrs net mln mln revs billion billion avg shrs mln mln reuter 
earn	waltham savings bank wlbk initial dividend qtly div eight cts payable may record april reuter 
earn	fleet financial group flt qtr net shr primary cts cts shr diluted cts cts net avg shares note qtr net interest income mln dlrs mln dlrs earnings per share reflects two for one common stock split march reuter 
acq	dominion calls burlington bur report rumor dominion textile inc considers published report that has bought stake burlington industries inc and considering making joint bid for the company rumor company spokesman said far concerned and the company concerned they are rumors and not commenting rumors spokesman michel dufour told reuters response query all the information that has been given out publicly that yes dominion textile interested making acquisition that big probably based that people are starting all sorts rumors said dufour said yes when asked whether the report was only rumor but said the company was not prepared comment further dominion textile president and chairman thomas bell was out town and unavailable for comment dominion textile last year made unsuccesful mln dlr bid for avondale mills and has maintained mln dlr line credit used for american acquisition dufour said the company has been negotiating with many textile companies but would not say whether burlington industries was one them burlington stock rose sharply this morning the report which said dominion textile had joined with investor asher edelman buy stake the company and consider making takeover offer dominion textile which reported operating profit mln canadian dlrs last year sales mln dlrs has repeatedly said will concentrate expanding into the the company has said plans diversify into new product and market areas addition expanding its textile operations reuter 
interest	fed sets overnight system repurchases fed says 
earn	raytheon rtn net rises operations raytheon said pct rise its first quarter net mln dlrs reflected improved operations and lower effective tax rate the company said revenue gains electronics major appliances and other lines were offset decreases energy services and aircraft products revenues the quarter rose pct billion dlrs said the company said backlog stood billion dlrs down from billion dlrs year earlier said five year billion dlr defense contract was awarded shortly after the close the first quarter reuter 
earn	general instrument corp grl qtr loss ended feb shr loss dlrs profit cts net loss mln profit revs mln mln year shr loss dlrs loss dlrs net loss mln loss mln revs mln mln note includes loss mln dlrs loss mln dlrs year and loss mln dlrs current qtr from discontinued operations qtr includes pretax gain five mln dlrs from settlement litigation and tax gain mln dlrs from change estimated effective tax rate reuter 
cocoa	cocoa exporters expected limit sales major cocoa exporters are likely limit sales the weeks ahead effort boost world prices sources close meeting the cocoa producers alliance cpa said the sources said the depressed world market had been one the main topics discussed closed door meeting the member cpa which began monday they said producers agreed that cutting sales would aid the buffer stock manager new international cocoa pact his effort support prices major cocoa producing and consuming nations agreed operation rules for the buffer stock meeting london last month and the stock manager expected enter the market soon prices under the weight three successive cocoa surpluses recently fell the level which the manager has buy cocoa under stock rules the buffer stock aims keep prices within pre set range buying when prices fall and selling when they rise the world cocoa price present just not interesting commented one delegate representing major cpa producer another source said that with much the october september world cocoa crop sold limiting sales the near term concerns essentially next year harvest the sources noted however that the cocoa industry brazil the world number two producer private hands this means limiting sales more difficult than major west african producers where sales are made authorized commodity marketing boards the cpa includes the world top three producers ivory coast brazil and ghana and accounts for pct all output the meeting here due end tomorrow evening reuter 
interest	fed adds reserves via overnight repurchases the federal reserve entered the government securities market arrange overnight system repurchase agreements fed spokesman said dealers said that federal funds were trading pct when the fed began its temporary and direct supply reserves the banking system reuter 
earn	morgan jpm net hurt brazil trading morgan and inc said its first quarter earnings fell pct largely reflecting its previously announced decision place non accrual status its billion dlrs medium and long term loans brazil that decision spurred brazil suspension interest payments february reduced the quarter net income mln dlrs mln dlrs compared with mln the first three months morgan also reported loss mln dlrs from securities underwriting and trading contrast gain mln dlrs the year earlier period the fourth quarter morgan posted other trading losses mln dlrs because setbacks the trading and underwriting euromarket securities conditions some sectors the euromarket remained difficult last quarter with floating rate notes suffering heavy price falls but spokeswoman was unable say whether morgan trading losses were restricted the euromarket the positive side morgan reduced its provision for loan losses mln dlrs from mln year earlier foreign exchange trading income rose mln dlrs from mln and trust income increased mln dlrs from mln morgan said other operating income mainly fees and commissions rose mln dlrs from mln but net investment securities gains dropped mln from mln net interest earnings were mln dlrs the first quarter down from mln year earlier and net yield fell pct from pct brazil had not been placed non accrual which means that interest can recorded income only when payments are actually received net interest earnings would have been mln dlrs and net yield pct brazil does not resume payments net would cut mln dlrs morgan added after the provision for loan losses morgan allowance for credit losses the end march totaled mln dlrs compared with mln end and mln year earlier reported net recoveries six mln dlrs after charge offs eight mln compared with net charge offs mln dlrs after recoveries three mln year earlier excluding brazil non accruing loans quarter end were mln dlrs down from mln end and mln year earlier non interest expenses rose mln dlrs from mln dlrs with more than half the increase related personnel costs morgan said reuter 
earn	atlas consolidated mining acmb qtr shr loss cts cts net loss mln loss mln revs mln mln year shr loss cts loss dlrs net loss mln loss mln revs mln mln reuter 
earn	fleet flt shareholders approve share increase fleet financial group said its shareholders approved increase shares the company authorized common stock shares from shares currently the company said shareholders approved the move the annual meeting providence today when the company reported that its first quarter earnings rose mln dlrs cts share from mln dlrs cts share the first quarter terence murray chairman and president fleet financial said fleet mortgage banking activities particular continued produce signficant income increases the first quarter murray said fleet mortgage servicing portfolio reached billion dlrs march including billion dlrs purchased march reuter 
earn	rowe furniture corp rowe qtr feb shr cts cts net revs mln mln reuter 
earn	reuters chairman urges freer information flows exchanges and telecommunications authorities should abolish their restrictions full and free dissemination information the investment and banking communities reuters holdings plc rtrs chairman sir christopher hogg said the annual repoprt said lengthy negotiations had brought agreement with the tokyo and london stock exchanges for fuller but still not complete access market data through reuter services many other markets maintain restrictions added hogg said members some markets appear believe that information restrictions protected their interests other cases exchanges seem limiting the distribution data order provide competitive advantage their own commercial information businesses also noted that despite increasing liberalisation the telecommunications field some countries continue protect their state monopolies the expense other economic sectors reuter dealing services remain excluded from such countries result banking communities serving entire economies are put competitive disadvantage added reuters increased its pre tax profit pct from the previous year mln stg pct rise revenues mln stg earnings per ordinary share were pct the annual shareholder meeting will held london april reuter 
acq	ccl industries purchases stake monobloc ccl industries inc said purchased majority interest monobloc from envases metalurgicos alava spain terms were not disclosed ccl also said agreed exchange present and future technology with envases reuter 
tin	paris group publishing daily franc tin price the association white metals has decided publish daily tin price here french francs per kilos the french federation non ferrous metals said the price quoted for the first time yesterday was introduced the lack tin quotes was causing problems for some french companies spokesman for the non ferrous metals association said today price was set francs per kilos and tuesday the international chamber commerce stopped publishing tin price after the london metal exchange lme stopped tin trading october the association has tested the basis uses calculate french franc price over the last few months ensure was reliable the spokesman said the french franc price pre tax for specified quality minimum pct purity french port border railway station and minimum delivery tonnes the french federation non ferrous metals groups various metal associations including the association white metals reuter 
earn	rhodes inc rhd declares dividend qtly div nine cts nine cts prior pay july record june reuter 
acq	madeira letter intent acquired madeira inc said signed letter intent acquired tradevest inc through stock for stock exchange after completion the transaction tradevest would own pct the issued outstanding stock madeira reuter 
earn	celltronics celt declares one for split celltronics inc said its directors declared one for reverse stock split its common stock said the split will payable april shareholders record april reuter 
earn	montedison agrimont unit earnings montedison spa italy said net consolidated profit for its agrimont group formed june totalled billion lire agrimont spa the holding company for montedison agro industrial businesses had sales billion lire and net profit about billion lire after amortization costs billion lire and billion lire reduction the value inventory due falling market prices montedison said agrimont still wholly owned montedison taking steps traded the milan exchange the company said the company said that was characterized unstable fertlizer market due the weak dollar and the decline international prices for products sold europe and the where agrimont operates through its conserv division pesticides and animal health care products agrimont maintained its previous level revenues and market share montedison said montedison said named ettore dell isola the newly created position president agrimont montedison also said named renato picco managing director eridania spa and gianfranco ceroni managing director italiana olii sifi both whom are members the the ferruzzi group management board argimont board directors ferruzzi owns about pct montedison the company said reuter 
acq	datron datr agrees buyout officers datron corp said agreed merge with ggfh inc florida based company formed the four top officers the company according terms the proposed transaction each share datron common stock excluding those shares owned the four officers will bought for six dlrs share said datron officers hold about pct the total datron common shares outstanding upon completion the proposed transaction the officers datron would own pct the company the merger subject gghf receiving financing for the plan datron said shareholders datron will asked approve the plan their annual meeting held june july and the merger expected completed july said reuter 
acq	trump and interstate properties talks acquire alexanders 
earn	sound warehouse inc swhi qtr feb net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
acq	trump and interstate talks for alexanders donald trump and interstate properties said they were holding preliminary discussions regarding possible joint acquisition alexanders inc dlrs per share the possible acquisition subject any applicable real estate gains and transfer taxes the joint statement said trump and interstate which presently own about pct alexander common stock said they intend keep the company retailer they succed their acquisition there can assurances that the parties will reach any agreement regarding acquisition what price might offered the statement said reuter 
earn	telecrafter corp swhi qtr feb net shr profit cts loss cts net profit loss revs mln mln six months shr profit cts loss cts net profit loss revs mln mln note qtr and six months include gains dlrs and dlrs for tax loss carryforward reuter 
earn	colt industries inc cot qtr net shr cts cts net revs mln mln avg shrs mln mln note net reflects interest expense debt incurred finance recapitalization oct prior year earnings restated reflect recapitalization plan reuter 
acq	yankee ynk unit not sell subsidiary yankee cos inc said its eskey inc esk subsidiary has decided not sell its yale key unit further details were not disclosed reuter 
earn	mayfair super markets inc myfra qtr feb shr cts cts net mln mln revs mln mln six months shr dlrs cts net mln mln revs mln mln note share adjusted for for stock split reuter 
earn	baton broadcasting inc six mths feb net shr cts cts net revs mln mln reuter 
earn	united cable television corp uct qtr net shr loss cts profit seven cts net loss profit revs mln mln avg shrs mln mln nine mths shr loss cts profit cts net loss profit revs mln mln avg shrs mln mln note current year net both periods includes pretax charge seven mln dlrs from increase reserve for investments broadcast television entities and tax credits dlrs quarter and dlrs nine mths reuter 
acq	canada allows publishing takeover harcourt investment canada said has allowed the indirect takeover holt rinehart and winston canada ltd saunders canada ltd and les editions hrw ltd harcourt brace jovanovich canada inc the government agency said however harcourt canada has agreed sell control the firms canadian interests within two years harcourt canada parent harcourt brace jovanovich inc hbj indirectly acquired the canadian book publishing companies when purchased holt rinehart and winston from cbs inc cbs last october reuter 
acq	talking point burlington industries bur the largest textile maker focused its own business its competitors found merger partners but now burlington industries inc may have restructured itself into attractive takeover candidate analysts said the takeover spotlight fell today burlington which rose speculation that investor asher edelman and dominion textiles inc canada bought almost five pct stake published report said edelman and dominion jointly acquired stake burlington and were weighing takeover offer edelman would not comment and spokesman for montreal based dominion called the report just rumors burlington said did not know the report was true wall street professionals said they were not convinced the story that edelman and dominion would the victors burlington actually came into play arbitragers said past comments from dominion however added credence the speculation dominion has said that was looking for takeover the last year dominion unsuccessfully bid for avondale mills and has maintained mln dlr line credit used for acquisition dominion spokesman said canada largest textile producer has been negotiating with many textile companies but would not say whether burlington was among them there have been acquisitions this area not unusual that someone could looking burlington after the housecleaning they done said eileen gormley thomson mckinnon burlington sold its domestic operations which made sheets and other linens stevens and inc for mln dlrs last year also has reorganized management and focused its operations businesses that would less affected foreign competition gormley said they pulled back not commodity marketer said gormley she said moving more heavily into industrial fabrics burlington bought masland which supplies carpets and other fabric the auto industry the past they just spent and never realized the return the outlays they did make she said you look their record over the year and think they poised more profitable than they had been the past gormley said she estimated earnings dlrs per share from dlrs per share some analysts today recommended clients not buy burlington its current levels edward johnson johnson redbook said recommends selling said believes the stock worth only about dlrs takeover basis and about dlrs earnings basis some arbitragers however said takeover values have been placed the company dlrs per share after asher edelman recent history lot people don find him very credible anymore said one arbitrager another however said edelman succeeds forcing managements take steps enhance shareholder values even doesn win the target company edelman was unsuccessful last year offers for lucky stores inc and fruehauf corp did succeed buying ponderosa inc the stocks other textile makers rose along with burlington stevens stn climbed and fieldcrest cannon inc fld the result merger fieldcrest and cannon rose west point pepperell inc wpm rose reuter 
earn	sterivet laboratories ltd stvtf qtr net shr profit cts loss cts net profit loss revs reuter 
earn	sterivet laboratories ltd stvtf year loss shr loss cts loss cts net loss loss revs reuter 
trade	japan last ditch effort avert tariffs senior japanese officials tomorrow open talks with american trade negotiators last ditch effort avert new high tariffs imposed wide variety japanese electronic exports makoto kuroda vice minister japan ministry international trade and industry miti hold two days meetings with the deputy trade representative michael smith and the under secretary commerce bruce smart the new tariffs into effect april are retaliation for japan failure adhere agreement end dumping semiconductors world markets below cost and open its home market semiconductor shipments they are imposed goods which use semiconductors including television and audio equipment and computers both and japanese officials have said there was little likelihood the talks would anything avert the pct duties mln dlrs worth japanese shipments president reagan announced the planned tariffs march after said that close monitoring the july japanese semiconductor pact convinced officials that japan was not honoring the agreement making the annoucement reagan said committed the full enforcement our trade agreements designed provide american industry with free and fair trade trade analysts said his move was aimed much japan semiconductor trade practices which are said have injured the semiconductor industry congress which has complained about presidential timidity trade issues congressional democrats have pledged enact aggressive trade laws counter what they contend has been reagan inaction redress the growing trade deficit which last year reached billion dlrs about one third the deficit was with japan reagan said there were recent signs japan was beginning adhere the pact and that was why was not terminating kuroda said leaving tokyo today had new proposals but did have explanation the semiconductor situation told the daily newspaper ashai shimbun that reagan decision was based inaccurate data and exaggerated sense miti power control japanese traders the united states has excessive expectations said stabilize supply demand relations which have been disrupted excess inventories since will take some time also said that firms had not been aggressive enough trying sell the japanese market reuter 
acq	hoechst celanese sends report new facilities hoechst celanese corp said sent propsective customers confidential report describing its polyester textile fiber facilities north carolina and south carolina the company did not disclose any prices the report describes the facilities darlington county and fayetteville the company said the report also decribes related manufacturing marketing administrative and technical resources that could made avialable buyer hoechst celanese was formed feb the merger celanese corp and american hoechst corp the merger took place after agreement was reached with the federal trade commission that certain domestic polyester textile fiber assets the combined companies would divested said hoechst celanese said has the option divesting either the south carolina facilities the former american hoechst package polyester textile fiber facilities the former celanese reuter 
earn	mellon participating mortgage trust mpmts div qtly div cts cts prior payable may record april reuter 
acq	gec declines comment purchase rumour general electric plc gecl gec declined comment rumours the london stock market that planning another purchase the medical equipment field addition its existing subsidiary picker international inc gec spokesman said that company policy not comment acquisition rumours stock exchange traders said the rumour helped gec share price rise final from yesterday closing price reuter 
earn	preston corp ptrk sees first quarter loss preston corp said expects report loss about dlrs five cts per share for the first quarter compared with profit dlrs cts per share year before the trucking company attributed the loss the continued rate discounted its primary markets flat revenues and increased costs including uninsured claims expense resulting from adverse weather conditions during the last three months said results outside the northeast were strong and expects show improved results for the rest the year reuter 
trade	white house standing firm japanese sanctions presidential spokesman marlin fitzwater said trade sanctions against japan were likely take effect april spite full court press japanese officials avoid them all indications are they will take effect said would say japan applying the full court press they certainly are putting both feet forward terms explaining their position fitzwater told reporters noted high level meetings the trade dispute are underway here but said don think there anything can report and don believe there been any official movement reuter 
earn	dow jones and inc first quarter shr cts cts 
earn	hayes dana inc qtr net shr cts cts net revs mln mln note pct owned dana corp dcn reuter 
cocoa	cocoa terminal deposits cut pct icch the basic deposit cocoa futures contracts will reduced pct from friday april taking the required deposit for one tonne lot stg from previously spokesman for the international commodity clearing house icch said the deposit for spread contracts will similarly cut stg for one tonne lot from previously said the icch had been looking cocoa market fluctuations over period weeks said adding the market basic stability had warranted cut deposit rates the decision cut deposits was taken the icch after consultation with the london cocoa terminal market the spokesman said the cuts were likely attract more business the market said reuter 
earn	electro rent corp elrc qtr feb net shr cts cts net revs mln mln nine mths shr cts dlrs net revs mln mln reuter 
earn	walgreen qtr shr cts cts 
earn	judy inc judy qtr jan loss shr loss two cts profit nine cts net loss profit sales mln mln year shr profit nine cts profit cts net profit profit sales mln mln reuter 
earn	orange inc qtr feb net shr profit dlrs loss cts net profit loss revs mln mln avg shrs half shr profit dlrs loss dlrs net profit mln loss revs mln mln avg shrs note current year net both periods includes gain dlrs from sale orange florida subsidiary american agrnomics corp agr net includes pretax real estate disposition loss dlrs gain dlrs quarter and loss dlrs gain dlrs half prior year net includes tax credits dlrs quarter and dlres half current half net includes dlr pretax gain dlrs from change accounting reuter 
earn	dow jones and inc qtr net shr cts cts net rev mln mln note earnings include after tax gain mln dlrs cts share versus after tax gain mln dlrs cts share for first quarter earnings per share reflects pct stock dividend the form class common stock distribution june reuter 
earn	lord abbett and mutual fund dividends lord abbett bond debenture fund qtly div cts cts prior pay may record april lord abbett government securities fund daily div cts cts prior pay may record may lord abbett tax free income fund national series daily div cts cts prior pay may record may lord abbett tax free income new york series daily div cts cts prior pay may record may lord abbett tax free income texas series daily div cts cts prior pay may record may lord abbett california tax free income daily div cts cts prior pay may record may reuter 
earn	heineken sees higher profits wider penetration dutch brewer heineken said hoped maintain for number years similar earnings growth the pct increase net profit achieved despite continuing investments reorganization program and efforts extend world penetration heineken last month reported net profit mln guilders after mln chairman freddie heineken said the company europe leading beer producer with six pct market share said sales increased pct mln hectoliters the volume increase was due mainly rise the where the brand amstel lite saw great demand and europe where sales accounted for pct the total turnover despite losses guilder terms due weaker foreign currencies rose pct billion guilders further consolidation foreign companies including the increase its stake leading spanish brewery aguila pct new ventures and modernization particularly french and spanish interests eroded profit margins the company still planned invest mln guilders this year restructuring and marketing heineken said heineken spanish activities should start yielding profit next year heineken said adding that its french operations had already turned profit after vast rationalization last year vice chairman gerard van schaik said the decision the european court justice luxembourg allow foreign beer into the closed west german market europe biggest beer market offered interesting possibilities for heineken have the beer but distribution and sales the important point van schaik said adding that since the ruling heineken had been inundated german traders seeking joint ventures the question not want penetrate the german market but how are van schaik said adding that while the widely traveled germans seemed developing taste for foreign beer the internal structure was very regionalized heineken board member hans coebergh responsible for african operations said saw africa one the most important beer growth markets the long term said the company present africa since and with majority stakes six breweries and interests was hampered the lack hard currencies there africa where beer consumption averages only nine liters per head per year and sales are limited import restrictions and currency risks nonetheless accounted for pct total sales site production rendered expensive the high price imports essential ingredients but heineken scientists have been looking other possibilities balance the costs imported malt heinken launched the nigerian market new beer made pct sorghum which had sold successfully coebergh said heineken urging farmers grow the traditional raw materials but coebergh noted that banana and palm beer were popular rwanda this possibility but could not possibly achieve the heineken flavor coebergh said chairman heineken said the company seven year efforts penetrate the soviet market had finally resulted this week contract that relaxed some the restrictions they faced but again lack hard currencies limited heineken market potential heineken now has seven bars moscow that are enjoying good sales but the bars only accept western money reuter 
earn	walgreen wag votes quarterly dividend qtly div cts cts prior qtr pay june record may reuter 
coffee	colombia business asked diversify from coffee colombia government trade official has urged the business community aggressively diversify its activities and stop relying heavily coffee samuel alberto yohai director the foreign trade institute incomex said private businessmen should not become what called mental hostages coffee traditionally colombia major export the national planning department forecast that coffee will account for only one third total exports about billion dlrs with oil and energy products making another third and non traditional exports the remainder reuter 
crude	turkey calls for dialogue solve dispute turkey said today its disputes with greece including rights the continental shelf the aegean sea should solved through negotiations foreign ministry statement said the latest crisis between the two nato members stemmed from the continental shelf dispute and agreement this issue would effect the security economy and other rights both countries the issue basicly political solution can only found bilateral negotiations the statement said greece has repeatedly said the issue was legal and could solved the international court justice the two countries approached armed confrontation last month after greece announced planned oil exploration work the aegean and turkey said would also search for oil face off was averted when turkey confined its research territorrial waters the latest crises created historic opportunity solve the disputes between the two countries the foreign ministry statement said turkey ambassador athens nazmi akiman was due meet prime minister andreas papandreou today for the greek reply message sent last week turkish prime minister turgut ozal the contents the message were not disclosed reuter 
acq	frontier insurance frtr acquisition talks frontier insurance group inc said currently negotiating acquire the business medical quadrangle inc formerly its largest medical malpractice insurance producer and the business its other malpractice producer medical professional liability agency inc gave details reuter 
earn	frontier insurance group inc frtr qtr net oper shr cts six cts oper net revs avg shrs year oper shr cts cts oper net revs mln mln avg shrs note net excludes investment gain four cts shr loss six cts quarter and gain five cts loss six cts year reuter 
earn	southington savings bank ssbb qtr net shr cts not given net note company went public july reuter 
earn	caterpillar inc cat votes quarterly dividend qtly div cts cts prior qtr pay may record april reuter 
acq	corrected datron datr agrees buyout datron corp said agreed merge with gghf inc florida based company formed the four top officers the company according terms the proposed transaction each share datron common stock excluding those shares owned the four officers will converted into six dlrs share said datron officers hold about pct the total datron common shares outstanding said corrects company name gghf first paragraph reuter 
earn	walgreen wag qtr feb net shr cts cts qtly div cts cts prior net mln mln revs billion one billion six mths shr cts cts net mln mln revs billion billion note results include charge four cts shr for latest six mths credit five cts shr for prior six mths from investment tax credit dividend payable june record may reuter 
earn	medtronic mdt sees pct earnings growth medtronic inc said sees pct growth sales and earnings for the year ending april analysts meeting here the company said that for the year ending april will earn about mln dlrs about dlrs share sales about mln dlrs the year ago period the company earned mln dlrs dlrs share sales mln dlrs winston wallin medtronic chairman said the company will improve market share fiscal cardiac pacemakers and expand its cardiovascular therapeutic product line wallin cautioned analysts not quickly change their per share estimates for the company said medtronic will have heavy sales and marketing expenses fiscal said the company intends reinvest its earnings its businesses and not its dividends shareholders are better off grow the business rather than reinvest dividends share repurchases said wallin said sees medtronic share the total worldwide pacemaker market increasing pct fiscal from pct fiscal said the worldwide market for cardiovascualr therapeutic products which includes pacemakers valves catheters and lasers will valued about billion dlrs and will double that wallin said our objective get hold new products and start building market share have beg borrow steal get into new markets the past medtronic pacemakers have been plagued with number problems leading product recalls regulators also have criticized the industry citing quality problems and needless overprescription pacemakers have knowledge any major problems our pacemakers leads wallin said intend establish our company the quality leader the industry glen nelson executive vice president for medtronics said the company intends diversify internally and through acquisitions companies areas medtronic expertise such drug delivery systems wallin said the pct earnings growth for fiscal does not include dilutions from acquisitions hope have some safety provisions that won have any major dilutions from acquisition wallin also said the company will have virtual exclusivity rate responsive pacemakers for all fiscal the company markets activitrax the first single chamber pacemaker that varies heartrate response physical activity siemens west german company also developing rate responsive pacemaker reuter 
acq	spie batignolles could increase comstock holding construction group spie batignolles negotiating increase its holding engineering and electrical installations firm comstock spie batignolles subsidiary schneider schn said statement was negotiating invest mln dlrs comstock the form bonds convertible into shares spie batignolles has held pct stake comstock since february spokesman said spie batignolles converted all the new bonds could open the way for the french company take control comstock but gave other details reuter 
tin	talks continue tin agreement extension discussions the possible extension the sixth international tin agreement ita began the quarterly session the international tin council itc but the council still waiting for decisions from various member states number producer governments particular have not decided their final position whether the ita should extended for two years wound down after expires june according delegate sources earlier today european community members decided back extension with the exception britain which undertook communicate its decision its partners later delegates said could friday before all the member countries declare their positions the possible extension today full council session started shortly before gmt after the scheduled start was delayed coordination meeting the council reconvenes gmt tomorrow although delegates said the morning likely taken with minor technical matters and the main issue will probably not discussed before the afternoon session reuter 
cotton	pakistan cotton crop seen record mln bales pakistan likely produce record mln bales lbs each cotton from the current crop exceeding target mln bales food and agriculture minister mohammad ibrahim baluch said told pakistan central cotton committee meeting here the present was the third consecutive poroduction record setting year and said the momentum would accelerated the future the official app news agency reported baluch said indications were that pakistan attain record cotton production mln bales compared the crop mln bales which also represented the target earlier set authorities for this year production reuter 
earn	tranzonic cos tnz qtr feb net shr cts cts net sales mln mln avg shrs year shr two dlrs dlrs net sales mln mln avg shrs reuter 
earn	security pacific expects brazil loan action cut net mln dlrs 
trade	white house says japanese tarriffs likely the white house said high tariffs japanese electronic goods would likely imposed scheduled april despite all out effort japan avoid them presidential spokesman marlin fitzwater made the remark one day before and japanese officials are meet under the emergency provisions july semiconductor pact discuss trade and the punitive tariffs fitzwater said would say japan applying the full court press they certainly are putting both feet forward terms explaining their position but added that all indications are they the tariffs will take effect reuter 
earn	showboat sbo take charge sees qtr loss showboat inc will take charge mln dlrs pretax against results for the third quarter ended march director and assistant the president kell houssels iii told reuters said the charge results from pre operating expenses its recently opened atlantic city showboat hotel casino and bowling center and will cause loss for the third quarter and probably for all fiscal well but houssels said showboat earnings for fiscal should show sharp increase from fiscal levels due the contribution the new atlantic city facility showboat earned dlrs last year third quarter for all fiscal earned dlrs houssels said showboat since the opening the atlantic city hotel casino showboat has had start charging interest expenses connected with debt sold finance the facility directly against income rather than capitalizing the interest had been able previously showboat opened the hotel during its third quarter and gaming began last thursday regular basis after test gaming was completed earlier the week reuter 
earn	security pacific spc loans put non accrual security pacific corp said placing medium and long term loans brazil and ecuador non accrual basis march move that will reduce first quarter earnings mln dlrs nine cts per share after taxes despite the anticipated reduction quarterly earnings security pacific said still expects report first quarter earnings higher than the mln dlrs dlrs per share reported for the first quarter the bank holding company said the action affects mln dlrs loans brazil and mln loans ecuador brazil suspended interest payments its billion dlrs medium and long term debt february ecuador which has foreign debt roughly eight billion dlrs has not paid any interest foreign banks since february march ecuador said would suspend interest payments for the rest the year because earthquake which halted the export oil which accounts for about pct the country export revenues its announcement security pacific said will record interest income only received cash the company also said believes that brazil will reach agreement with its banks and that interest payments will resume later the brazilian negotiations resume friday new york when central bank governor francisco gros expected ask banks for day roll over some billion dlrs term debt that matures april reuter 
crude	iraqi troops reported pushing back iranians iraq said today its troops were pushing iranian forces out positions they had initially occupied when they launched new offensive near the southern port basra early yesterday high command communique said iraqi troops had won significant victory and were continuing advance iraq said had foiled three pronged thrust some six miles from basra but admitted the iranians had occupied ground held the mohammed qassem unit one three divisions attacked the communique said iranian revolutionary guards were under assault from warplanes helicopter gunships heavy artillery and tanks our forces are continuing their advance until they purge the last foothold occupied the iranians said iran said its troops had killed wounded more than iraqis and were stabilising their new positions the baghdad communique said iraqi planes also destroyed oil installations iran southwestern ahvaz field during raid today denied iranian report that iraqi jet was shot down iraq also reported naval battle the northern tip the gulf iraqi naval units and forces defending offshore terminal sank six iranian out iranian boats attempting attack offshore terminal the communique said reuter 
earn	golden enterprises inc gldc qtr feb net shr cts nine cts qtly div six cts six cts prior qtr net revs mln mln avg shrs mln mln nine mths shr cts cts net revs mln mln avg shrs mln mln note dividend payable april holders record april reuter 
money-fx	group five meeting ends meeting finance ministers and central bankers the group five ended after nearly three and half hours west german finance minister gerhard stoltenberg and british chancellor the exchequer nigel lawson declined comment the meeting they emerged from the treasury european monetary official said the ministers the group seven countries would gather about three local gmt the treasury reuter 
livestock	usda propose foreign meat inspection rule the agriculture department preparing proposal that would require all foreign meat products inspected their point arrival the united states usda official said donald houston administrator usda food safety and inspection service fsis told house agriculture subcommittee usda was developing proposed change regulations that would put end the current practice permitting foreign meat products unloaded one port and inspected another port houston said the requirement would phased over several years avoid disruptions and economic hardship reuter 
acq	ual ual may respond pilots today ual inc may have response this afternoon the pilots union proposal buy its united airlines unit ual spokesman said obviously have lot movement our stock and need get clarification out the spokesman said adding that there was chance statement would released today the pilots earlier this week offered buy the airline for billion dlrs and assume billion dlrs existing debt takeover speculation has driven ual stock for several weeks ual last month said new york real estate developer donald trump held position its stock and that also held discussions with its chairman the developer indicated those talks that took the position investment but revealed other plans today rumors circulated that coniston partners were buying ual stock ual jumped five volume more than mln shares united has got consider this proposal think the pilot proposal realistic don exptect them take but could put some interesting options front ual management said timothy pettee bear stearns and analyst analysts have said ual made itself vulnerable attack when diversified away from its core airline added hertz rental cars westin and hilton international hotels strategy become travel service company the strategy left its stock slump and its pilots union concerned that the company was not focussing enough attention its airline ual has stood firm its strategy emphasizing its new focus changing its name allegis may one but takeover speculation has escalated and wall street has been busy calculating break values well excess dlrs per share traders today described the buying ual widespread indicative them that big institutions believe the stock play market sources have said that although trump attracted attention the stock the pilots proposal acted catalyst kicking off new round speculation and perhaps throwing the company into the hands another buyer the first domino you have investor with considerable stake the second domino the union that type attitude has been precursor airline deals the past said pettee what interesting the values are there there something for everybody said reuter 
earn	hartmarx hmx targets earnings growth hartmarx corp following year restructuring continues target record earnings for fiscal chairman john meinert told the annual meeting meinert reiterated earlier comment that earnings for the remainder the year must double the level meet that goal fiscal ended november hartmarx reported earnings mln dlrs dlrs share down from the prior year mln dlrs dlrs share the year old apparel manufacturer recently posted first quarter earnings cts share from cts year ago meinert told shareholders hartmarx has plans sell any its divisions added have the financial capacity take advantage acquisitions meinert said the company will open five new and redesigned kuppenheimer direct consumer stores atlanta detroit louis washington and san francisco said the company women apparel continues grow and hartmarx has the drawing board briar concept store which will feature ties shirts and some tailored clothing reuter 
money-supply	fed heller sees return slower money supply growth 
earn	general electric qtr shr dlrs dlrs 
crude	ghana buy crude oil from iran ghana will import tonnes crude oil annually from iran under agreement reached tehran today the iranian news agency irna reported the agency received london said the accord was reached between iranian oil minister gholamreza aqazadeh and visiting ghanaian delegation headed foreign minister obed asamoah irna said that under the agreement iran will also provide technical and scientific assistance manpower training and oil exploitation production and refining reuter 
money-supply	fed heller says monetary growth slower robert heller member the federal reserve board said expects more modest levels growth the money supply this year view this would not only logical but also most desireable development said speech prepared for delivery economic forum chapman college orange calif text was released washington said the effect lower inflation and financial deregulation monetary aggregates was now largely finished consequently monetary growth may return more modest levels heller said noted growth the money supply slowed after mid january would not surprised all the monetary aggregates were grow rather slowly during the balance the year well added heller said there was danger renewed price inflation the pricing behavior american producers response price increases their foreign competitors will crucial for our economic future said widespread domestic price rises response rising import prices would generalize the inflationary forces emanating from the foreign trade sector and might not gain more market share for producers return the stagflation the late may well the result such behavior pattern heller warned said the federal reserve will have disciplined our conduct monetary policy heller said said the government should also exercise fiscal discipline and cut the deficit spending restraint rather than new taxes the imposition new taxes would tend rekindle inflation and certainly would not make more competitive international markets heller said said the economy should expand nearly three pct during aided higher exports europe and canada free trade agreement currently being negotiated with canada would exceedingly helpful allowing american producers compete more effectively that country heller said reuter 
earn	general electric qtr net shr dlrs dlrs net mln mln sales billion billion note prior year does not include results rca corp reuter 
earn	energy development edp had year loss energy development partners ltd said had operating loss for the year ended december mln dlrs cts per share but said mln dlr non cash writeoff oil and gas properties taken the first quarter resulted net loss mln dlrs dlrs per share energy development partners limited partnership which began operating september full year revenues totaled mln dlrs the company also said said proved reserves december totaled mln barrels oil and mln cubic feet natural gas reuter 
money-fx	industrial nations reconvene for talks financial ministers and central bankers leading industrial nations reconvened here this afternoon canadian finance minister michael wilson said entering the meeting the ministers would review the paris agreement asked was satisfied with west german and japanese stimulus wilson replied they could little more french finance minister edouard balladur meanwhile confirmed there would communique the end the meeting finance ministers and central bankers britain france canada and west germany were seen reuter correspondents returning treasury building japanese officials and bundesbank president karl otto poehl did not appear have left the building the end earlier group five talks which broke around local time gmt there was sign however the italian delegation whose position was thrown into question this morning the resignation the christian democratic wing italy socialist led government european monetary officials said later that the italian delegation was inside the building this meant that full blown meeting the group seven was progress reuter 
acq	chrysler renault delay motors amo pact chrysler corp and regie natiionale des usines renault said they agreed extend two weeks the period for reaching definitive agreement chrysler proposed billion dlr takeover american motors corp the letter intent signed chrysler and renault march nine set april nine the target date for completing negotiations however the letter also allowed room for extension that date april agreement could not reached the two companies said they now plan complete work april chrysler and renault said given the complex nature the deal the need for additional time was expected the march letter intent between the two companies says that chrysler could ask renault extend the agreement date the event that prior april chrysler discovers unforeseen problem the course its due diligence investigation the company referring american motors chrysler spokeswoman would not say whether some problem had cropped the talks she stuck the company statement that more time was needed because the talks are complex that our definition the delay she said under the previous agreement between chrysler and renault their letter intent would terminated april nine when agreement was reached but the letter could amendend written agreement both companies the chrysler spokeswoman said are still working toward definitive agreement said another chrysler official who not part the talks but who would told the deal were trouble there are glitches analysts also downplayed the significance the delay can visualize where they wouldn want done said donaldson lufkin jenrette analyst richard henderson reuter 
earn	rite aid corp rad sets dividend qtly div cts cts pay april record april reuter 
earn	airsensors inc arsn qtr jan loss shr loss five cts loss six cts net loss loss sales nine mths shr loss cts loss cts net loss loss sales reuter 
earn	general electric qtr helped rca general electric corp said its first quarter results were significantly higher due the strong results rca which was acquired last year general electric also attibuted continued strong performances plastics major appliances and the employers reinsurance corp for its strong quarter recorded net earnings for the first quarter mln dlrs dls per shr pct from mln dlrs dlrs per share for the same quarter year ago general electric chairman john welch reiterated the company outlook for which expects double digit earnings growth for the year said the first quarter results are line with those expectations general electric cited the strong results network and station operations the national broadcasting which was not part the first quarter one reason for its strong earnings also noted that aircraft engine operating profit was much higher than year ago caused increase shipments than the quarter which was impacted strike aerospace revenues were sharply higher this year first quarter from year ago mainly because the inclusion rca aerospace and defense business the company said addition consumer products revenues were from last year mainly because including sales rca video products general electric said restructuring provisions mln dlrs before taxes implement various strategic moves were charged against operations the first quarter added that there was one time gain mlns dlrs after taxes from inventory accounting change and technical products revenues and operating profit were ahead last year led strong increases medical systems volume and the inclusion this year rca communications and related services reuter 
copper	teck still talks copper venture teck corp said was continuing talks about joining joint copper venture highland valley british columbia held affiliates cominco ltd clt and lornex mining corp but did not know when negotiations would completed teck vice president administration john guminski said reply query that the talks had been ongoing for long time declined speculate the outcome cominco pct owned consortium led teck optimistic that the talks will soon concluded spokesman don townson told reuters think all partners are hopeful that the situation will resolved cominco townson said optimistic that they will concluded shortly added townson declined specify when the talks might end cominco and teck pct owned lornex agreed january form the joint venture merging their highland valley copper operations cominco and lornex share equally control and management the highland valley operations while cominco has pct share production and lornex receives pct for the six months following july when the venture officially started production highland valley had total ore milled mln short tons grading average pct copper townson said cominco share production was short tons copper contained concentrate short tons molybdenum concentrate ounces silver and ounces gold said consortium pct owned teck and pct each mim canada inc and metallgesellschaft canada ltd acquired its cominco stake last year from canadian pacific ltd reuter 
earn	banponce corp bdep qtr net shr dlrs dlr net reuter 
earn	xebec xebc report qtr loss xebec corp said expects report loss for its second quarter ended april three due principally decline sales international business machines corp ibm the company largest customer xebec also said expects revenues total about mln dlrs the company reported second quarter loss last year mln dlrs cts per share mln revenues xebec said ibm has historically accounted for about pct the company revenues but that total fell pct during the quarter just ended ibm had used xebec hard disk drive controller products the ibm product which ibm phasing out xebec said intends continue streamlining its operations light the loss business the company also said has already consolidated two its plants nevada and now plans sell unused and surplus assets provide additional liquidity reuter 
earn	caterpillar cat reaffirms first quarter outlook caterpillar inc remarks delivered its annual meeting san francisco reiterated its expectation loss the first quarter said results would hurt mln dlr one time charge caterpillar mitsubishi pct owned affiliate the company said expected profit from operations for the full year improve over remarks prepared for delivery shareholders president peter donis said caterpillar targeted five pct cost reduction will difficult achieve because the weaker dollar has limited opportunities obtain lower material costs reuter 
acq	broker boosts zondervan zond stake pct investor group headed minneapolis minn broker jeffrey wendel said raised its stake zondervan corp shares pct the total outstanding from shares pct filing with the securities and exchange commission the wendel group said bought zondervan common shares between march and april prices ranging from dlrs share the wendel group has acted cooperation with another shareholder group headed london investor christopher moran who sought unsuccessfully last year take over zondervan reuter 
earn	kiena two for one share split approved kiena gold mines ltd said shareholders approved previously reported proposed two for one common stock split record date the split will april kiena said reuter 
earn	hanover insurance hins raises dividend hanover insurance said its board declared quarterly dividend nine cts per share payable may holders record april the dividend comes after two for one stock split effective april which was approved shareholders today the company paid dividend cts per share pre split basis reuter 
acq	day int day sell unit day international corp said has entered into letter intent sell its allen industries inc unit group including the unit current management day said the sale could enable day accelerate its earnings for its current fiscal year ending october net earnings for the full year ending october should the ball park some analysts estimates mln dlrs mln dlrs richard jacob day chairman and chief executive officer said day reported earnings mln dlrs cts share fiscal day said the agreement subject the preparation and negotiation definitive agreement and the ability the group obtain financing reuter 
earn	rite aid corp rad sets quarterly dividend qtly div cts cts pay april record april reuter 
earn	vulcan vul sees first quarter operating loss vulcan corp first quarter operating results will show loss chairman lloyd miller told told the annual meeting the company reported profit dlrs cts share for the first quarter last year with one cent share coming from non operating factors spokesman said miller attributed the expected loss completion the purchase transfer and consolidation operating assets the sullivan rubber division saying this was proving more costly and taking more time than originally anticipated vulcan working resolve the problems miller told shareholders adding appears will take most find solutions reuter 
acq	ual ual has comment stock rise ual inc citing company policy told the new york stock exchange would not comment the unusual rise its stock ual parent united airlines closed volume mln shares wall street traders said ual stock soared response the the proposed billion dlr buyout offer united air pilots union and general rise air fares throughout the industry reuter 
earn	strata corp stata year dec loss shr loss dlrs loss dlrs net loss mln loss mln revs mln eight mln reuter 
earn	strata stata earnings report qualified strata corp said its earnings report contained qualified opinion from its independent auditors strata said owed mln dlrs overdue interest its lender the end and the entire mln dlr principle has been classified liability the company which has agreement merge with lomak petroleum inc lost mln dlrs against loss mln dlrs year earlier reuter 
earn	dayton hudson corp votes quarterly payout qtly div cts cts prior qtr pay june record may reuter 
earn	vulcan corp vul regular dividend qtly div cts cts prior qtr payable june record may reuter 
acq	nat distillers says agrees sell spirits unit for mln dlrs american brands 
grain	usda seeks comments grain discount schedule the agriculture department seeking public comments the question adjusting the commodity credit corporation ccc discount and premium schedules improve the quality grain accepts loan collateral under price support programs the premiums and discounts schedule are based quality factors such moisture content and kernel damage the schedule stipulates the premiums and discounts used for valuing grain the ccc accepts purchases during the year the department said possible that producers could encouraged delivery higher quality grain ccc adjusting the premiums and discounts comments are due april and report congress required law may reuter 
acq	cascade importers unit acquires paris company cascade importers inc usa cascade international europa gmbh west germany said tentatively acquired worldwide rights for the products madam gre from the bernard tapie group paris the agreement calls for cascade have the rights for the manufacturing and trading perfumes skin care and treatment products and cosmetics the group said cascade said the agreement also includes the exclusive rights trade through duty free channels worldwide the designer gres accessories addition cascade said was granted option purchase all the assets including the plant and equipment located france the company said the cosmetic product line the market alone could represent mln dlrs revenue reuter 
earn	armel inc aml qtr loss oper shr loss cts loss dlrs oper net loss loss revs mln mln year oper shr loss cts loss dlrs oper net loss loss revs mln mln note excludes charge cts per share the fourth quarter and gain cts per share the year reuter 
acq	national distillers sell spirits unit national distillers and chemical corp said signed definitive agreement sell its spirits division for mln dlrs james beam distilling unit american brands inc amb the sale the spirits division was made under the company previously announced plan sell its spirits and wines businesses said the wine business was sold last month for mln dlrs heublein inc part grand metropolitan plc national distillers said the purchase price will paid cash national distillers spokeswoman said the sale permits national focus its core businesses chemicals and propane marketing proceeds from the sale will used repay debt and for other corporate purposes the company said separate statement american brands said the sale would for mln dlrs plus the assumption liabilities the sale would subject compliance with the hart scott rodino antitrust improvements act and other regulatory approvals the company said national distilled spirits business has sales about mln dlrs american brands said national spirits brands include gilbey gin and vodka dekuyper liqueurs and windsor supreme canadian whisky reuter 
earn	management science msai loss may top cts management science america inc clarifying statements made earlier today said its loss for the first quarter could exceed cts share because non recurring expenses associated with the acquisition several companies including comserv inc earlier today the company told meeting investors here that the first quarter loss would cts share reuter 
interest	wojnilower sees drop interest rates the federal reserve will promote lower interest rates this year sustain world economic growth first boston corp managing director albert wojnilower said much the fed would like take tough line against inflation cannot act slow the growth credit without subverting national economic policy selected occasions when the dollar seems steady and because the trade deficit not responding the united states decided push germany and japan harder meet their commitments economic growth the federal reserve will its part moving rates down wojnilower said report justifiably not anticipating either recession seriously higher interest rates securities market participants have seen little fear wojnilower said said last week hiccup money and currency rates and bond and stock prices was probably caused japanese window dressing for march end fiscal year accounts wojnilower said the probably enjoyed above average economic growth the first quarter however the pick seems reflect unsustainable pace inventory building and the prospect for the full year still for real gross national product growth about pct said reuter 
acq	raytech ray buys west german company raytech corp said acquired raybestos industrie produkte gmbh for mln dlrs raybestos with manufacturing facilities radevormwald west germany produces friction materials for use clutch and braking applications reuter 
earn	intercare care post qtr loss intercare inc said expects report substantial loss for its fourth quarter ended january because writeoff expenses associated with its recently terminated debt and equity offering the company also said the write off includes expenses associated with the acquisition medical enterprises inc and with the restructuring certain partnerships intercare also said increased its reserve against accounts receivable executives the company were not immediately available provide additional details intercare also said has implemented workforce reduction closed two medical centers and considering additional closings means reducing working capital deficit reuter 
earn	united tech utx sees earnings impact united technologies corp said the decision international consortium not develop new engine would have impact earnings international aero engines iae pct owned united technologies pratt and whitney division has decided not launch superfan version its engine told analysts that iae decision not launch full development program the iae superfan for certification will have short term impact earnings united technologies spokesman told reuters short term refers and the spokesman said declined elaborate iae other owners are rolls royce plc japanese aero engines corp fiat spa and mtu west germany analysts are estimating united technologies will earn dlrs dlrs share reported earnings cts share which included two large writeoffs reuter 
earn	stewart and stevenson ssss qtr net shr profit cts profit cts net profit profit revs mln mln year shr nil loss dlrs net profit loss mln revs mln mln note full name stewart and stevenson services inc reuter 
earn	westamerica bancorp wab qtr net shr cts cts net loans mln mln deposits billion mln assets billion billion reuter 
earn	southeast bancorp stb acts brazilian debt following the lead other major banks southeast banking corp told the securities and exchange commission would place mln dlrs medium and long term brazilian debt non accrual cash status based current interest rates estimated filing that the move will reduce net income about dlrs the first quarter and mln dlrs for all the company also said did not believe the brazilian debt situation would have material adverse effect also said would issue common shares connection with its acquisition popular bancshares corp reuter 
earn	williams wmb sees flat pipeline volumes williams cos said expected oil and fertilizer transportation volumes flat but said operating profits from the pipeline unit should improve from mln dlrs earned last year when seven mln dlr special charge was incurred williams pipeline took the charge against earnings for the removal more than miles old pipeline from service and for casualty losses companywide williams had net loss mln dlrs total revenues billion dlrs decline from profits mln dlrs sales billion its annual report williams said its northwest pipeline corp and williams natural gas had natural gas costs that are among the lowest the nation averaging dlrs and dlrs per mcf respectively last year total natural gas reserves for both units declined billion cubic feet from billion cubic feet the previous year the company said its williams natural gas unit which has less take pay exposure than most major pipelines should show improvement its operating results because changes tariff and federal tax rates the company gas marketing business expected have somewhat lower earnings because competition its operating region the annual report said the gas marketing unit earned mln dlrs sales mln dlrs last year williams also said expected substantial decline its debt equity ratio this year because more than mln dlrs received cash from the sale agrico chemical and proceeds from the sale and leaseback williams telecommunications the telecommunications business mile fiber optic system for long distance use will not profitable until late williams said reuter 
earn	super valu stores inc svu qtr feb net shr cts cts net sales billion billion avg shrs year shr dlrs dlrs net sales billion billion avg shrs note period ended february earnings include net loss unconsolidated subsidiary dlrs the quarter and dlrs for the year reuter 
earn	parker drilling pkd qtr feb loss shr loss cts loss cts net loss loss revs mln mln six mths shr loss dlrs loss dlrs net loss loss revs mln mln reuter 
coffee	coffee could drop cts cardenas says international coffee prices could drop between and cents next october agreement reached support the market jorge cardenas manager colombia national coffee growers federation said speaking forum for industrialists said one the reasons was that the market was already saturated and that producers will have excess production and stockpiles mln bags today may futures new york settled cents reuter 
acq	hbo hboc urges shareholders against andover hbo and said sent letter strongly urging shareholders not sign any proxy cards sent andover group march andover group two man general partnership which owns about seven pct hbo stock filed preliminary proxy materials with the securities and exchange commission seeking nominate alternative slate directors the company april annual meeting andover had expressed interest acquire the company september but hbo has never received offer from them said addition hbo said its financial condition improving rapidly the result significant restructuring implemented expects the company report net income about cts per share and very significant increase for the year ended december the company reported loss mln dlrs cts per share reuter 
earn	cfcf inc six mths feb net shr cts cts net revs mln mln reuter 
acq	uap makes acquisitions uap inc said has acquired slater auto electric ltd with two ontario stores and united diesel engine parts ltd dartmouth nova scotia for undisclosed terms said the transactions together with acquisitions earlier this year will increase its annual sales about mln dlrs reuter 
earn	hawkeye hwkb annual report qualified hawkeye bancorp annual financial results were qualified its auditors according the annual report there are conditions which may indicate that the company will unable continue going concern auditors deloitte haskins and sells said hawkeye annual report shareholders hawkeye reported loss almost mln dlrs citing increase its loan loss provision mln dlrs and restructuring costs mln dlrs however hawkeye with assets billion dlrs year end said expects have sufficient cash meet its obligations for the next month period last july the bank holding company reached debt restructuring agreement which identifed bank subsidiaries and five non bank operations for disposition the restructuring has improved hawkeye financial condition but does not assure that hawkeye will able survive going concern the report said hawkeye survival will depend its ability comply with provisions the debt restructuring and regulatory agreements and its ability return profitable operations said there can assurance that hawkeye will able meet these requirements however the company believes will able hawkeye said reuter 
earn	washington bancorporation qtr net shr cts cts net mln assets billion billion deposits billion billion loans billion mln note year ago results restated reflect merger with colson inc reuter 
acq	dome dmp plan may force sale encor stake dome petroleum ltd proposal restructure debt more than billion canadian dlrs includes provisions that may force the company sell its pct stake encor energy corp inc dome said securities and exchange commission filing dome said the filing that its debt plan proposes making payments under five year income debenture the lender whose debt secured dome encor shares after the five years are under certain circumstances the shares encor may required disposed the company said dome has pledged its mln encor shares security for part its debt canadian imperial bank commerce estimated last year mln dlrs analysts have said commerce bank was pressing dome sell the stock pay down its debt dome encor shares had market value mln dlrs march the company filing said previously reported dome seeking approval principle for the debt restructuring plan dome said the filing proposed lenders sign letter understanding early april with implementation effective july dome petroleum reiterated the sec filing that its existence going concern dependent continuing the interim debt plan due expire june and winning agreement for its proposed restructuring plan the company believes that the negotiation and implementation the proposed debt restructuring plan realistic and achievable dome said however the final outcome the negotiations cannot predicted this time said reuter 
trade	deficit cuts seen unable cure trade deficit financial analysts say they are pleased with congressional moves trim next year federal budget deficit but believe the actions will little help improve the trade deficit buoy the economy the house representatives expected vote tomorrow approve trillion dollar budget blueprint for the coming fiscal year that reduces the deficit billion dlrs similarly the senate budget committee has approved plan that would cut federal red ink about billion dlrs next year terms the economy billion dlrs infinitesimal cuts this magnitude will have little impact the economy and the trade deficit said stanley collander touche ross federal budget policy analyst best will have small positive effect collander said interview federal reserve board chairman paul volcker has repeatedly told congress that cutting federal red ink would long way help reduce the massive trade deficit and also help ease some the downward pressure the value the dollar the government has attempted remedy the trade imbalance driving down the value the dollar but volcker has warned that further fall the dollar value fraught with danger such decline has said could refuel inflation imported goods become more expensive and chase away foreign capital needed finance the federal budget deficit addition february officials meeting with other major industrialized nations paris agreed that the value the dollar had dropped enough and that world exchange rates should stabilized around current levels part that agreement japan and west germany agreed take steps stimulate their economies and the united states agreed cut its budget deficit the alternative driving down the dollar any further way deal with the trade deficit volcker said recently reduce consumption particularly federal spending you don deal with the budget deficit everything else you going counterproductive volcker said recent testimony before the senate banking committee volcker also said would prefer further tighten the government purse strings than have the fed tighten the credit supply action was needed fight inflationary pressures assure the continued flow foreign capital into the united states analysts say that fed tightening now could choke off the current modest economic expansion and threaten recession kemper financial services economist john silvia stressed that any deficit reduction was better than none but said the size the cuts under consideration were not enough give the federal reserve board the flexibility needs steer the economy keep the value the dollar from plunging further world exchange markets there doubt that some deficit reduction helps but your objective stabilize the dollar and perserve the fed flexibility conduct monetary policy then the answer not enough silvia told reuters the trade deficit has become one the government most vexing and persistent problems the deficit was billion dlrs and there yet little indication that this year figure will any lower though administration officials have predicted will drop about billion dlrs year end the past volcker has joked that never lost sleep worrying whether congress would cut too much fat from the federal budget the other hand also has made clear not attached the gradually declining deficit ceilings set for the period last year gramm rudman balanced budget law while the new law set ceiling billion dlrs for next year federal deficit both the house and senate budget committees have conceded that their budget plans would fall short the deficit reduction goal about billion dlrs for political reasons billion dlrs about the most you going get out congress the present time said touche ross collander something more than that would extraordinary remarkable and very very difficult collander said the real danger for congress was end short the deficit reduction goal set its budget panels extent this has become the minimum acceptable reduction level explained anything less than that will now look like failure wall street the budget plan now under debate the house floor would lower estimated billion dlr deficit for the year beginning october one about billion dlrs cutting defense and domestic programs billion dlrs from their anticipated spending levels for next year the senate budget committee has called for deficit nearly billion dlrs with about billion dlrs new taxes and about the same amount spending cuts reuter 
earn	stewart and stevenson services ssss qtr qtr ended jan shr profit cts profit cts net profit revs mln mln year shr profit nil loss dlrs net profit loss mln revs mln mln reuter 
earn	westamerica bancorporation wsam qtr net shr cts cts net assets billion billion deposits billion mln loans mln mln return avg assets pct pct reuter 
coffee	colombia coffee registrations remain open colombia coffee export registrations remain open and there are plans close them since new marketing policy means unlimited amount can registered gilberto arango president the private exporters association said the philosophy the new policy not close registrations nobody far said may would closed told reuters march colombia opened registrations for april and may for unlimited amount without giving breakdowns arango said private exporters had registered bags this calendar year april roughly bags per month slightly lower than the average recent years estimated the amount bags registered the national coffee growers federation about the same meaning total about bags registered and sold per month colombia the only change that could happen because the volume would told that from such date registrations would for june shipment etc arango said reuter 
earn	gateway bancorp inc gban qtr net shr cts cts net deposits mln mln note per share amounts adjusted reflect for one stock split effective sept reuter 
acq	more american brands amb acquisitions seen american brands inc mln dlrs acquisition national distillers and chemical corp liquor business expected one series acquisitions the tobacco company analysts said they were very frustrated with their inability get chesebrough they said they were looking for acquisition doesn surprise that they came with another one said allan kaplan merrill lynch and american brands failed late last year its billion dlrs bid for chesebrough ponds inc when unilever agreed buy the company but since then wall street has been speculating that american brands would find another candidate help reduce its earnings exposure tobacco this just typical said george thompson prudential bache securities there going more come here american brands had make acquisition because tobacco still significant part earnings their position little less favorable than philip morris and reynolds said cash flow from its low growth tobacco but the tobacco business does require great amounts capital expenditures can therefore use its funds make acquisitions analysts said the national distillers spirits company which makes gilbey gin and vodka old grandad and old crow whiskey not quite the type acquisition they envisioned the distilled spirits business has been steady gradual decline for sometime has the tobacco business said thompson reuter 
jobs	australian unemployment rises march australia seasonally adjusted unemployment rate rose pct the estimated workforce march from pct february and pct year earlier the statistics bureau said the number jobless rose from february and year earlier the bureau said unadjusted the number unemployed rose from february but the rate eased pct from reflecting slight increase the estimated workforce march persons pct the workforce were out work reuter 
acq	csr says retaining non delhi gas oil stakes csr ltd csra said its sale delhi petroleum pty ltd will not affect the other oil and gas interests manages operates csr sold delhi which holds average pct the santos ltd stos led cooper eromanga basin onshore gas and liquids joint ventures exxon corp xon unit for mln dlrs april statement clarify the position csr said will retain its roma gas unit the associated roma brisbane gas pipeline and the bula oilfield seram indonesia plus exploration interests queensland and hainan island china reuter 
alum	showa denko exports aluminium casting equipment showa denko ltd said exporting aluminium billet casting equipment and technology countries that have recently begun aluminium smelting company official said won mln yen order deliver sets casting equipment venezuela venalum end said received order for one set from aluminium bahrain last year and expects further orders from the bahrain smelter showa denko withdrew from smelting last year but expects increase its sales equipment and technology said reuter 
earn	rio tinto zinc corp plc pretax profit mln stg mln 
earn	rio tinto zinc net attributable profit lower year december shr div making pretax profit mln stg mln net attributable profit mln stg mln turnover billion stg billion note accounts have been restated full name company rio tinto zinc corp plc rtzl group operating profit mln stg mln operating costs billion stg billion share profit less losses related companies mln stg mln interest receivable other income mln stg mln interest payable mln stg mln tax mln stg mln leaving mln stg mln rtz investment australian associate cra has been equity accounted for and figures restated the same basis after the reduction rtz interest pct october reuter 
earn	burmah oil pre tax profit mln stg mln 
interest	german bankers remarks revive talk rate cut remarks two leading central bankers sparked renewed speculation financial markets that cut the west german three pct discount rate may under discussion currency dealers said bundesbank board member claus koehler said speech that monetary growth resulting from speculative capital inflows required cuts interest rates separately west berlin state central bank president dieter hiss told journalists that the discount rate could fall below its lowest ever point pct made clear that was not making forecast interest rates however currency dealers here and the far east said the dollar gained slight background support from the speculation but german dealers noted that the bundesbank kept the pct rate unchanged which offered liquidity the money market this week dashing some expectations that may either offer lower fixed rate money offer reduced minimum rate and let the strength banks demands set the allocation rate allocated billion marks new liquidity much less than the billion leaving the market prior pact expired this further weakened sentiment the bundesbank could move more accommodative monetary stance dealers said koehler said speech surrey england speculative capital inflows may cause monetary growth regardless whether central banks intervened exchange rates fell other words the monetary policy measures required are different from and sometimes diametrically opposed those needed when the money stock increasing result mounting economic activity though koehler was known the most liberal the generally monetarist bundesbank board his comments marked the first time cuts rates had been concretely suggested counterpoint overly strong monetary growth dealers said reuter 
trade	soviet trade deficit with west soars the soviet trade deficit with the west almost quadrupled last year reaching billion roubles compared with mln official figures showed statistics published the monthly journal foreign trade showed soviet trade turnover for fell billion roubles from billion the previous year drop pct moscow trade surplus with east bloc countries continued grow western analysts attributed the deficit rise with the west the world oil price slump which hit moscow main export and cut hard currency earnings needed for purchases the west reuter 
earn	burmah oil profit climbs mln stg year shr final div making pre tax profit mln stg mln net profit before minorities mln mln turnover net duties billion stg billion minorities stg same extraordinary debit mln mln note company full name the burmah oil plc burm reuter 
earn	rtz sees rising output aiding results rio tinto zinc corp plc rtzl rtz said the predicted rise industrial production the and europe should boost its performance consumption some base metals and their dlr prices are showing signs improvement although iron ore markets have weakened the oil price dlrs above the average and sustained should improve energy earnings the company was commenting statement its results which restated basis showed net attributable profits lower mln stg after mln the previous year pretax profits also dipped mln stg after mln rtz said the excellent performance its expanding range industrial businesses was offset the collapse oil prices industrial businesses contributed mln stg net profit pct increase from mln and pct the total trading performance improved wholly owned subsidiaries rtz borax ltd rtz cement ltd rtz chemicals ltd and rtz pillar ltd first time contributions from recent investment and acquisitions mainly speciality chemicals and minerals also aided performance metals activities contributed mln stg net profit 
earn	bridgestone corp brit year december group shr yen net billion billion current billion billion operating billion billion sales billion billion note company forecast for current year group shr yen net billion current billion and sales billion reuter 
sugar	sugar tender seen marking change policy the maximum export rebate granted yesterday sugar tender marked change policy over producer complaints that they are not obtaining the intervention price exporting sugar outside the community commission sources said the maximum rebate was ecus per kilos for tonnes sugar down from ecus the previous week but the change explained world market conditions producers claim the rebate was short the level needed obtain price equivalent the intervention price over one ecu per kilos and was ecu short the previous week the sources said they said this was despite the fact that the commission had accept tonnes sugar into intervention from operators protesting that rebates are too low operators have now until early may withdraw this sugar but they have not given any sign planned withdrawals unless the commission reviews its export policy they said reuter 
earn	burmah oil prospects remain favourable the current year has opened well with trading prospects remaining favourable burmah oil plc burm said statement with its results the company plans maintain steady rate investment its marketing operations and obtain improved profit margins its liquified natural gas lng project burmah has the financial capacity continue making acquisitions within its business sectors added the rationalisation programme including sale the bahamas oil terminal and all peripheral activities now complete pre tax profit for rose mln stg from mln reuter 
earn	gebrueder sulzer profit almost pct year consolidated net profit mln swiss francs mln dividend francs per registered share francs and francs per participation certificate eight consolidated turnover billion francs billion parent company net profit mln francs mln parent company turnover billion francs billion note company full name gebrueder sulzer sulz reuter 
acq	pergamon holdings reduces bpcc and hollis stakes pergamon holdings ltd and its associate companies said that they had sold mln ordinary shares the british printing and communication corp plc bpcl and mln hollis plc together with other securities total price was given but the company said the proceeds the sales would used fund pergamon expansion programme and worldwide acquisition stategy the company said that following these sales pergamon ordinary shareholdings both bpcc and hollis remained above pct said had intention further reducing its holdings either company reuter 
earn	nationale nederlanden profits sales steady year net profit mln guilders mln revenues billion guilders billion net profit per nominal guilder share guilders corrected for capital increase uncorrected figure dividend guilders corrected uncorrected note full name nationale nederlanden ntnn reuter 
rubber	shanghai tyreb factory raise mln dlrs chung hua rubber factory shanghai will raise mln dlr loan expand and modernise its plant arranger ccic finance ltd said the loan lead managed the bank china expected mature eight nine years but terms have not been finalized the money will used import manufacturing equipment including technology transfer for the production truck radial tyres part the output will exported the expansion program expected cost total mln dlrs the shortfall will financed domestically reuter 
interest	saudi rates rise bahrain banks caught short saudi riyal interest rates rose bahrain based banks scrambled cover short positions dealers said several bahrain banks had been lending the fixed periods and borrowing the short dates but today they found the day day money short supply dealers said everybody stuck the spot next one trader said spot next rose high six pct from five pct yesterday and the borrowing interest spilled over into the periods with one month rising around pct from pct yesterday three months edged around pct from pct while six months was quoted touch firmer some banks seven pct commercial banks quoted the spot riyal the dollar after yesterday reuter 
gold	belgium issue gold warrants sources say belgium plans issue swiss franc warrants buy gold with credit suisse lead manager market sources said confirmation further details were immediately available reuter 
earn	philippine telephone firm plans stock split the philippine long distance telephone pldt planning two for one stock split and pct stock dividend later this year reduce excess market buoyancy vice president sennen lazo told reuters lazo said the stock split would reduce the par value the company common stock from five pesos said the stock split would apply holders about mln common shares stock the record date september the exercise should make our stock more marketable lazo said now beyond the reach many small investors pldt common stock surged from low pesos february close trading yesterday the manila stock exchange lazo said the pct stock dividend payable october would also apply stockholders record september pldt reported net income billion pesos pct from mln pesos operating revenues six billion pesos from billion pesos end december the company had stockholders pldt spokesman said the company profits are likely substantial since the government raised its franchise tax three pct from two and impose pct corporate income tax from which was previously exempt the government has not far ordered the implementation the tax decision pldt the largest telephone companies the philippines december the company had telephones operation representing pct all instruments the country manila item philippine telephone firm plans stock split please read page first para the company profits are likely substantially cut inserting dropped word this replaces the company profits are likely substantial 
sugar	cargill confirms white sugar sale india london based trader cargill ltd confirmed sold one cargo white sugar india for shipment april may yesterday tender price details were not immediately available but some traders suggested business had been done around dlrs tonne cif india tendered for one two cargoes white sugar there was specific requirement shipping period reuter 
nat-gas	malaysia seeks billion yen pipeline loan malaysia has asked japan for billion yen year loan finance the construction gas pipelines from eastern trengganu southern johor the overseas economic cooperation fund oecf said oecf chief representative takashi matsuya told reporters the japanese government appraising the loan another oecf official told reuters japan likely approve the loan because technically and economically viable approved the loan would carry coupon rate four pct grace period seven years matsuya said would disbursed over three years added the pipeline contruction the second phase the peninsular gas utilisation project petronas malaysia national oil company the first phase was the supply gas households and around the eastern oil town kertih reuter 
earn	ccf reports pct profit boost share split seen credit commercial france ccfp reported parent company net profit pct mln francs from mln francs few weeks before its denationalisation around the end this month official sources said the bank france sixth largest terms its deposits and seventh terms its assets planned share split increase the number shares offer ahead the sale pct its ordinary share capital the public pct staff and pct abroad previously one france biggest private banks was nationalised the socialists the sources said was too early give details the planned split the share price but cited april likely date for the flotation launch far pct the group capital currently mln shares francs nominal has been offered for sale large private investors constitute solid core eight ten shareholders before the flotation the private tender offer closes april while mln franc advertising campaign for the flotation begins sunday the privatisation will way attracting extra clients ccf deputy director general rene serre told reuters market sources put the total value ccf privatisation between four and five billion francs serre said the bank was likely attract least the same number investors sogenal another recently privatised bank which people bought shares the government sweeping privatisation programme has also included the sale saint gobain sgep and cie financiere paribas pari the sale banque batiment des travaux publics and banque industrielle mobiliere privee should completed this month while third largest french bank societe generale sgen will privatised later this year reuter 
acq	lex service buys sears motor group lex service plc lexl said had acquired sears motor group ltd the retail motor distribution arm sears plc sehl and mln stg loan note payable sears motor for mln stg the purchase will through mln stg cash and the issue sears plc mln new lex ordinary shares the company said statement that immediately following the acquisition the motor group its car and commercial vehicle contract hire fleet some vehicles was sold lex vehicle leasing ltd for mln stg cash sum equal the net book value the vehicles transferred lex vehicle owned equally lex services and lombard north central plc lex said the shares involved the transaction were today being placed for sears plc with institutions these shares will not qualify for the final lex dividend april lex said statement that its acquisition sears motor group represents major development for its automotive activities the enlarged retailing operations the lex automotive group now have turnover mln stg lex existing automotive interests include volvo concessionaires the sole importer volvo cars and parts into the lex said the turnover for sears motor group the year december was mln stg and that the date the acquisition the group had about mln stg external borrowings lex shares fell the announcement trade around from close yesterday reuter 
rubber	major rubber producers meet singapore officials from indonesia malaysia singapore and perhaps thailand will meet here tomorrow discuss increased regional cooperation rubber marketing and ways raise rubber prices industry sources said the officials will discuss linking rubber markets the four countries improve price transparency the sources said this the first time indonesia attending such meeting they said but representatives from thailand may not able attend because their tight schedule malaysia indonesia and thailand account for pct world rubber exports and singapore major regional rubber trading centre the malaysian rubber futures market freighting and contracts for rubber are among other issues expected discussed last month rubber importing and exporting countries adopted new international natural rubber agreement geneva the new pact more responsive market trends than its predecessor the sources said and earlier provisions allowing the buffer stock borrow from banks have been eliminated reuter 
acq	mepc extends offer for oldham mepc plc mepc said that its offer for oldham estates ltd would remain open until further notice february mepc made agreed bid for oldham based formula reflecting its asset value september year earlier oldham net asset value was put mln stg april the valuation used under the formula had still agreed oldham had yet give firm recommendation its shareholders regarding the value the the offer reuter 
earn	george wimpey profits pct mln stg year december shr div making pretax profit mln stg mln tax mln stg mln net profit mln stg mln turnover billion stg billion note full name company george wimpey plc wmpy operating profit before exceptional items mln stg mln exceptional debits mln stg mln operating profit mln stg mln share profits less losses associated companies mln stg mln loss interest net payable mln stg mln attributable minority profits debits mln stg mln extraordinary items debit mln stg mln credit net borrowings mln stg mln reuter 
trade	canada february trade surplus billion dlrs after january mln dlrs surplus 
earn	aegon net profit rises pct net profit mln guilders total revenue billion guilders billion net profit per five guilder nominal share guilder corrected for capital increase final dividend guilders and pct stock guilders and pct stock interim dividend already paid was guilders note full name company aegon aegn reuter 
trade	canada february trade surplus billion dlrs canada had trade surplus billion dlrs february compared with upward revised mln dlrs surplus january statistics canada said the january surplus originally was reported mln dlrs the february surplus last year was mln dlrs february exports seasonally adjusted were billion dlrs against billion january and billion february february imports were billion dlrs against billion january and billion february reuter 
earn	natned forecasts results line with the netherlands largest insurer nationale nederlanden nttn natned said expected least unchanged results after reporting net profits pct mln guilders from mln revenues increased pct billion guilders after billion the previous year and the dividend was raised guilders per share from guilders corrected capital increase the company said guilder revenue and profit were pressured falls exchange rates particularly the and australian dollar and sterling without these currency fluctuations net profit would have been mln guilders higher and revenue billion higher natned said the international share turnover was pct compared with pct the company life insurance result fell mln guilders after mln due currency influences tighter interest margins and increased investment claim payouts fell mln guilders after mln the previous year the company total assets reached billion guilders against billion the year before assets per share equalled guilders against without these currency fluctuations net profit would have been mln guilders higher and revenue billion higher natned said the international share turnover was pct compared with pct the company life insurance result fell mln guilders aft interrupted 
reserves	bank france return apr week end apr mln francs gold reserves unch convertible currency reserves ecus special operations advances exchanges stabilisation fund nil nil special drawing rights unch notes circulation foreign liabilities 
sugar	thailand renew long term sugar contracts trade thailand negotiate tomorrow with selected trade houses for renewal long term raw sugar sales contracts cover the next five years rate tonnes annually traders said they also reported vague talk algeria may seeking tonnes raws tomorrow but details are unclear reuter 
trade	launches anti dumping probe japanese chips the european community launched investigation into allegations dumping japanese semiconductor makers move which diplomats said could mark intensification world trade strains tokyo already faces deadline april from washington for the imposition mln dlrs worth tariffs chips imports into the the executive commission said today the european electrical component manufacturers association complained that japanese firms were selling high capacity eprom type erasable programmable read only memory chips unfairly low prices japan last year took pct the mln dlr eprom market from pct the firms said they had been forced offer their products discount pct order compete with the japanese the commission said believed the association had given sufficient elements proof for dumping warrant investigation which could lead impose duties found the complaints were justified the commission claims last year accord between the and japan microchip pricing gives firms privileged access the japanese market reuter 
money-fx	swiss launch new series money market paper the swiss federal government will launch new series three month money market certificates totalling around mln swiss francs the national bank said subscriptions close april and payment date april the last series three month paper issued march raised mln francs issue price pct giving average annual yield pct reuter 
money-fx	finance ministers agree need for stability finance ministers from seven major industrialized nations agreed the need stabilize currencies current levels but said more action was needed reduce trade imbalances and sustain economic growth communique issued after four hour meeting the treasury that ended last night the ministers said the value the dollar and other currencies was basically correct now and they welcomed new measures planned the japanese boost their economy west german finance minister gerhard stoltenberg called good meeting and brief remarks exchanged with reporters other ministers seemed pleased with its outcome shortly after the communique was issued and just foreign exchange trading opened tokyo the bank japan intervened again prevent the yen rising too quickly the communique said the ministers and governors reaffirmed the commitment the cooperative approach agreed the recent paris meeting they agreed however that further actions will essential resist rising protectionist pressures sustain global economic expansion and reduce trade imbalances welcomed the plans set this week the japan ruling liberal democratic party stimulate its economy with what the communique termed extraordinary and urgent measures including unprecedented front end loading public works expenditures the meeting the called group seven brought together ministers and central bank governors the seven major industrial democracies the united states japan west germany france britain italy and canada the communique said the ministers reaffirmed the commitment cooperation reached meeting february paris when they had agreed stabilize foreign exchange rates the then current levels the weeks that followed the dollar continued fall against the japanese yen despite massive dollar purchases the bank japan and other central banks and now trading around postwar lows japan has come under growing criticism from both the united states and european countries for its only modest efforts open its markets outside competition and reduce its exports the communique said japan affirmed its intention open domestic markets foreign goods and services but did not elaborate said the officials reaffirmed the view that around current levels their currencies are within ranges broadly consistent with economic fundamentals and the basic policy intentions outlined the louvre meeting reuter 
earn	aegon expects moderate rise profits dutch insurer aegon aegn reported pct increase net profits mln guilders and said expected moderate increase profits for total revenue was eight pct lower billion guilders billion guilders the company said its revenues were down due lower foreign exchange rates and change accounting practice added that revenues would have risen about seven pct had those changes not occurred revenue from dutch operations rose five pct mainly due its life insurance business health insurance revenues the netherlands also rose despite notable shift insurances with lower premiums and higher personal risks damage insurances made losses mainly due car damage insurances aegon did not specify the loss the united states revenue guilders from health and life insurance was lower aegon said this was due change accounting for annuities aegon said annuities are subject such strong personal investment influences that should accounted differently from the more traditional insurances this change accounting practice and another change account for profits made fixed interest investments resulted incidental rise net profits mln guilders aegon said incidental negative influences net profits were slightly higher being the lower dollar rate high initial costs for new products and the cost new headquarters the hague large number new insurance products emerged the netherlands and the aegon said large initial costs for these products have depressed net profits somewhat monumental corp insurer which merged with aegon may saw its profits almost completely eroded these costs and made only small contribution the group profits aegon said has written off mln guilders goodwill for monumental corp aegon net equity was billion guilders december against billion the year before reuter 
money-fx	wants show markets its resolve miyazawa japanese finance minister kiichi miyazawa said the group seven countries reaffirmed their paris accord stabilising currencies convince the market their resolve news conference after today meeting miyazawa said the ministers and central bank governors did not believe totally new statement was needed the speculative selling did not reflect economic fundamentals and since the fundamentals had not changed only reaffirmation the goals the paris accord was needed said also noted that this test the nations resolve had concentrated the yen while other currencies especially the mark had remained stable miyazawa said any change economic conditions since the paris accord was not worth being called fundamental said time louvre agreement the expression current level rather vague idea said the yen movement the past several weeks within the range agreed paris febraury said was better give vague expression than pin pointing level which could have adverse impact the market miyazawa said asked why only japan was committed fresh measures the statement said japan was exceptional among the seven because the yen appreciated against the dollar while other major currencies largely have been stable also said japan ruling liberal democratic party has justed adoped package reflate the economy while other nations are not supposed produce new measures short period since the paris agreement miyazawa also said the sanctions against japanese semiconductor products was not discussed through the meeting and did not affect the currency talks the seven nations discussed the debt problems developing countries and ways proceed line with the debt initiative outlined treasury secretary james baker months ago reuter 
earn	unifirst corp unf sets quarterly qtly div five cts five cts prior pay july one record june reuter 
earn	trump plaza qtr net net profit loss revs mln mln year net profit mln profit revs mln mln note company became wholly owned and operated donald trump may when acquired pct interest that had been owned former operator holiday corp hia reuter 
sugar	west german beet plantings delayed three weeks unseasonal cold weather has delayed sugar beet plantings west germany three weeks the agriculture ministry said ministry spokesman said some central areas especially the rhineland farmers have taken advantage warmer weather and started plantings the past two days west german planting intentions this year are put hectares down from last year said adding that the average was reuter 
acq	step saver coda says warrant exercised step saver data systems inc said bergen richards corp has exercised warrant buy step saver shares two dlrs each said warrants issued the underwriter its initial public offering were exercised march for aggregate dlrs reuter 
acq	coast savings csa talks buying bank coast savings and loan association said talks with the federal savings and loan insurance corp the acquisition central savings and loan association san diego central which operates branches has been under management guidance the fslic since may coast said the acquisition would give entry into the san joaquin valley market besides strengthening its presence the san diego los angeles and orange counties areas reuter 
acq	bramall acquire gelco for mln dlrs bramall plc said statement accompanying its annual results that proposed acquire gelco for some mln dlrs part the cost will met the issue mln new ordinary bramall shares which are being placed each the acquisition will satisfied initial payment some mln dlrs cash with further payments dlrs maximum mln dlrs these further payments will only made profits achieved gelco for the year ending july reach certain level bramall shares were trading lower reuter 
gold	belgium launches bonds with gold warrants the kingdom belgium launching mln swiss francs seven year notes with warrants attached buy gold lead mananger credit suisse said the notes themselves have pct coupon and are priced par payment due april and final maturity april each franc note carries warrants two warrants are required allow the holder buy grammes gold price francs during the entire life the bond the latest gold price zurich was francs per grammes reuter 
earn	and bancshares inc cbtb qtr net shr cts cts net avg shrs mln mln note results reflected pooled acquisition first community bancshares inc march and include camden bancorp from january purchase reuter 
earn	xicor inc xico qtr march net shr profit five cts loss cts net profit loss revs mln note net includes dlr tax credit reuter 
earn	george wimpey says benefits restructuring seen george wimpey plc wmpy said the outlook for looked encouraging the company realised the continuing benefits restructuring said its overall financial position showed further improvement and the reshaping its business into clearly defined and activity related divisions had been successfully achieved wimpey was commenting statement its results which showed pretax profits pct mln stg the group had good overall year north america the company said statement reuter 
acq	cmco makes acquisition said has acquired the principal assets national tech industries inc and telkom corp which are engaged the sale and telemarketing consumer electronic merchandise and business house imports and industries respectively the company said paid total dlrs including the assumption liabilities national tech had sales about mln dlrs for said reuter 
gold	belgium launches bonds with gold warrants the kingdom belgium launching mln swiss francs seven year notes with warrants attached buy gold lead manager credit suisse said the notes themselves have pct coupon and are priced par payment due april and final maturity april each franc note carries warrants two warrants are required allow the holder buy grammes gold price francs during the entire life the bond the latest gold price zurich was francs per grammes reuter 
earn	datatrak inc dtrk qtr feb net shr profit nil profit nil net profit profit sales nine mths shr loss one loss two cts net loss loss sales reuter 
ship	todd shipyards tod struck west coast todd shipyards corp said production workers represented the multi union pacific coast metal trades district council its san francisco division struck april six said negotiations are expected resume the end this month todd also said the collective bargaining division effect its galveston division expires april and negotiations with the galveston metal trades council are continuing the company said results balloting new collective bargaining agreement proposal its seattle division are expected tabulated the close business tomorrow the pacific coast council has recommended acceptance that proposal membership todd said reuter 
jobs	first time jobless claims fell week new applications for unemployment insurance benefits fell seasonally adjusted the week ended march from the prior week the labor department said the number people actually receiving benefits under regular state programs totaled the week ended march the latest period for which that figure was available that was down from the previous week reuter 
acq	clevite industries says industries offered dlrs share buy company 
earn	suntrust banks inc sti qtr net shr cts cts net mln mln note share adjusted for two for one split july results restated for pooled acquisition third national corp december net chargeoffs mln dlrs mln dlrs assets billion dlrs pct from year earlier deposits billion pct and loans billion dlrs pct reuter 
earn	international thomson report funds international thomson organisation ltd said will report financial results funds rather than sterling beginning from jan said the change will not applied retroactively prior financial periods the company said result recent investments most its assets now are located the united states reuter 
earn	philip crosby associates inc pcro qtr net shr three cts cts net revs mln year shr cts cts net revs mln mln reuter 
earn	colonial american bankshares corp cabk qtr shr cts cts qtly div cts cts prior net note share adjusted for pct stock dividend november dividend pay may one record april reuter 
acq	clevite clev gets dlr shr offer clevite industries inc said received written proposal from industries inc jpi seeking buy all its outstanding shares for dlrs share clevite stock was trading nasdaq industries recently completed the acquisition clevite engine parts division industries said its proposed transaction would financed through borrowings under its available bank lines and bridge financing facility which donaldson lufkin and jenrette securities corp agreed arrange expedite the transaction industries said would willing start cash tender for clevite shares within five days after agreeing upon definitive merger and confirmation clevite financial results and condition reuter 
livestock	argentine cattle market report about head cattle were auctioned liniers cattle market against wednesday and last thursday trade sources said maximun prices australes per kilo with dollar equivalent brackets included today wednesday steers over kilos steers kilos cows for canning reuter 
money-fx	money market deficit revised downward the bank england said has revised its estimate today shortfall mln stg from mln before taking account mln stg morning assistance reuter 
earn	physio technology phyt sees loss default physio technology inc said expects have third quarter ended march loss about dlrs and default its bank loan because the resignation chairman and chief executive officer the company said the loss followed four quarters modest profits the year ago quarter earned dlrs one cent share for the first half fiscal reported profit dlrs two cts share compared year earlier loss dlrs cts share said president michael hall will assume the duties chief executive officer physio technology said the resignation chairman james lane can constitute non compliance with its series convertible subordinated debentures due and default under its agreement with the merchants bank kansas city explained declaration non compliance under the debentures would create default under the loan agreements requiring immediate payment mln dlrs debentures and about dlrs outstanding under the bank credit line the company said the debenture holders intend waive the non compliance but reserve the right withdraw the waiver the end any day period physio technology said changing its field sales force independent representatives and dealers from employees significantly reduce its fixed overhead its statement did not indicate how many employees would affected the move the company said lane will become independent dealter for the company certain midwestern states will continue serve director added reuter 
earn	washington federal savings wfsl qtr net qtr ends march shr one dlr cts net mln six mths shr dlrs dlrs net mln mln note full name bank washington federal savings and loan association reuter 
earn	ponce federal bank pfbs qtr net shr cts cts net avg shrs note net for both qtrs reflects gains sales securities pct net and pct net reuter 
money-fx	money market deficit removed the bank england said has satisfied its revised estimate today shortfall the money market providing mln stg assistance afternoon operations the bank bought band one mln stg bank bills pct and band two mln stg bank bills and one mln stg treasury bills pct this brings the total help far today mln stg compared with its deficit estimate mln stg reuter 
money-fx	lebanese pound falls sharply against dollar the lebanese pound fell sharply against the dollar again today with dealers attributing the decline continued political uncertainty the pound closed against the dollar compared yesterday close political deadlock reflected the pound position there was more demand and less offer the market one dealer told reuters the pound which was the dollar january has lost more than pct its international value over the past three months reuter 
earn	brown boveri und cie lifts dividend dividend business marks per share seven marks company subsidiary switzerland bbc brown boveri und cie bbcz reuter 
earn	whirlpool corp qtr shr cts cts 
coffee	brazilian coffee rainfall the following rainfall was recorded the areas over the past hours parana state umuarama nil paranavai nil londrina nil maringa nil sao paulo state presidente prudente nil votuporanga nil franca nil catanduva nil sao carlos nil sao simao nil minas gerais state guaxupe nil tres pontas nil reuter 
acq	hutton lbo inc said tender offer acquisittion for purolator courier expired 
bop	world bank support sri lanka deficits cut the world bank will support sri lanka development program provided the country reduces its budget and current account deficits the ministry finance said said bank president barber conable meeting with sri lanka finance minister ronnie mel washington also emphasised the need for structural adjustment and reform the economy battered five years separatist disturbances officials said sri lanka budget deficit this year expected surpass the projected billion rupees while defence spending already two billion rupees from targetted billion also likely grow the ministry said mel asked the world bank give sri lanka billion rupees balance payments support reuter 
acq	hutton lbo inc says unit terminates merger agreement with purolator courier 
acq	gemina has comment ambrosiano report holding company gemina spa said had comment italian press report today that has acquired pct stake nuovo banco ambrosiano spa italian daily repubblica said that gemina paid billion lire for the shareholding from several italian banks gemina spokeswoman told reuters have nothing say about the report spokeswoman for milan based ambrosiano said have information this time february ambrosiano chairman giovanni bazoli said foreign and domestic firms have expressed interest buying stakes the bank reuter 
earn	volkswagen dividend unchanged dividend business unchanged marks per ordinary share company also set dividend marks for new preference shares which were issued last year note company has said profit will match level despite provisions mln marks connected with alleged currency fraud group net profit was mln marks parent company net was mln marks company full name volkswagen vowg reuter 
earn	whirlpool corp whr qtr net shr cts cts net sales mln mln avg shrs reuter 
interest	bank france leaves intervention rate unchanged the bank france said left its intervention rate unchanged pct when injected funds the market against first category paper today money market intervention tender money market dealers had earlier expressed mixed views the possibility quarter point cut the rate was last adjusted march when was cut pct from the eight pct rate set january reuter 
gnp	global economic slowdown raises new debt fears the global economy expected weaken this year adding new worries already serious poverty outlook economic analysts said for finance ministers and central bankers attending this week semi annual meetings the international monetary fund and world bank the new figures released the imf add additional concern the fund estimated world output would only grow pct this year versus pct last year and pct the industrial countries gross national product measure all goods and services was expected decline pct this year compared with pct the imf said for the developing countries the gross domestic product another measure economic growth was expected fall pct from pct last year the new figures are considered major disappointment the poorest countries they had hoped that new vitality the industrial countries brought sharp decline oil prices would assist their economic recovery and help them cope with growing mounds debt imf officials discussing their outlook said they believed the industrial country economies would move annual growth rate three pct the end the decade economic analysts and the imf have been saying for some time that the ability keep the debt crisis from turning into economic rout rests sustained economic growth since the debtor countries must look the wealthier states for markets for their products well financial assistance economic weakness the developed nations economies poses fundamental worries debtor countries including the very poorest states have only few avenues open them for earning foreign exchange including the key one exports the economy which its fifth year expansion has served mainstay for developing country exports but too seen being rather feeble this year growing only pct according the imf for this reason and because high trade deficit the united states has been pressuring japan and west germany ignite their economies but with little apparent success the imf study also examines the course the dollar and the curious lack impact has had the trade deficit reagan administration officials have been saying that the impact now beginning show although has been much slower than expected the imf observed its world economic outlook that has recognized that exchange rate adjustments take time work through payments flows probably least three years get resonably complete effect the report added however the adjustments may take even more time this occasion reuter 
earn	showboat sbo declares stock split showboat inc said its board declared two for one stock split payable shareholders record may reuter 
lead	lead prices rise finely balanced physicals lead prices have risen this week against background finely balanced physical sector traders said further gains are possible the ussr steps its buying labour problems develop north america they added london metal exchange lme prices are unusually buoyant time year when seasonal demand normally slackening and prices tending drift lower this buoyancy generally attributed traders the low level lme stocks and steady unspectacular physical demand the northern hemisphere finding supplies curtailed the supply problems are not new but are beginning felt market which peak winter demand tails off stocks usually build fast and availability increases traders said the lower supply levels result from number different factors around the globe delayed shipments from peru mediterranean countries because production and transport problems lack spanish exports since the closure last year cia cruz smelter linares and lower output morocco and greece have all meant additional demand being directed merchants who turn have been drawing lme stocks addition broken hill associated smelters port pirie south australia smelter halting production for five weeks for maintenance although the company said would meet commitments this will put further pressure stocks and the company doe run has kept its tonnes per year boss montana smelter closed this cut producer stocks and contributed closer supply demand balance within the market for many years depressed surplus production and regular supplier the world market mexican supplies which have sometimes swelled lme stocks have been normal but are finding ready buyers traders said the demand side winter battery manufacture has held quite well and some buying lead sheet has been reported the soviet lead buying notably absent europe the first two months the year was resumed when large buying order was filled merchants march merchant demand has fuelled the rise lme lead prices this week and has seen cash metal move above stg and establish premium around stg over three months delivery specific demand has been directed towards metal gothenburg and trieste warehouses gothenburg material often target for merchants shipping the ussr traders said stocks the popular lme continental warehouses antwerp and rotterdam have little more than tonnes lead each and this believed strong hands out total tonnes lme stocks the lowest level since june just over half warehouses which are not popular with merchants putting together shipments but even stocks have dropped around tonnes since the start the year traders said this partly due secondary smelters buying ingots supplement feed supplies affected environmental controls which put restrictions the transport used batteries labour negotiations north america will play important part determining the direction prices with contracts expiring end april cominco trail and kimberley mine smelter and doe run herculaneum smelter noranda new brunswick mine smelter also has contract expiry july which may cause some nervousness view strikes its zinc and copper workers over recent months traders said lme three months delivery already attracting speculative buying could rise stg current firmness while nearby tightness could widen the cash premium from four three months was quoted stg midsession reuter 
earn	rexham corp rxh qtr net shr cts cts net sales mln mln note net includes pretax gain dlrs from change pension accounting results include production graphics corp and systems technology and weapons system test divisions new technology inc acquired december reuter 
earn	first eastern corp febc qtr net shr cts cts net note share adjusted for two for one stock split january reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days days pct pct days reuter 
acq	anchor financial afcx make acquisition anchor financial corp said has agreed acquire waccamaw state bank surfside beach exchange anchor shares for each waccamaw share subject regulatory and shareholder approvals waccamaw had assets mln dlrs march reuter 
dlr	stoltenberg not surprised dollar reaction west german finance minister gerhard stoltenberg said was not surprised the overnight decline the dollar foreign exchange markets speaking briefly with reporters before entering meeting the international monetary fund said these minor movements don really affect the dollar declined the initial reaction statement the group seven industrial countries reaffirming their paris agreement february maintain their currencies around current levels reuter 
lead	asarco ups lead price cts asarco inc said increasing its base spot sales price for refined lead one half cent cents fob delivered carload lots effective immediately reuter 
acq	hutton efh unit purolator offer expires hutton lbo inc said the tender offer its wholly owned unit acquisition inc for purolator courier corp pcc expired edt yesterday without the purchase any purolator common stock hutton added that acquisition also terminated its merger agreement with purolator hutton said the offer which had been conditioned upon the tender least purolator shares about two thirds the outstanding shares was terminated because the minimum number shares was not tendered purolator had entered into definitive agreement with acquisition part owned hutton lbo inc unit hutton and some officers purolator courier division which offered purchase purolator common stock shares for dlrs share following that move acquisition planned merge subsidiary into purolator converting all outstanding purolator common did not own into aggregate mln dlrs principal amount pct guaranteed debentures due and warrants purchase pct purolator unit comprised purolator courier operations hutton said edt yesterday about shares purolator common stock about pct the outstanding shares had been validly tendered and not withdrawn acquisition has instructed its depository for the offer return promptly the purolator stock deposited behalf tendering shareholders hutton said reuter 
earn	abbott laboratories qtr net shr cts cts 
cotton	certificated cotton stocks certificated cotton stocks deliverable the new york cotton exchange cotton futures contract april were reported bales down bales from the previous day figure there were bales awaiting review and bales awaiting decertification reuter 
earn	reichhold chemical rci sets anti takeover plan reichhold chemical inc said its board adopted warrant dividend plan which one preferred stock purchase right will distributed dividend each common share outstanding the company said its warrant dividend plan designed protect its shareholders against unsolicted coercive attempts aquire control without making adequate offer for all shares reichhold said the adoption not response any specific takeover attempt reichhold said each right will entitle shareholders buy one one hundreth share newly created series preferred stock initial exercise price dlrs with dividend and voting rights approximately equal those one share the company common stock the rights will exercisable only without reichhold prior consent person group acquires pct more the voting power announces tender offer which would result pct ownership the company said reichhold said entitled redeem the rights five cts apiece before pct position has been acquired before existing pct shareholder buys additional two pct more the voting power the company connection with certain transactions afterward the tax free distribution will become effective may and will expire years later the company said details the plan are outlined letter mailed stockholders reuter 
earn	abbott laboratories inc abt qtr net shr cts cts net mln mln sales billion mln reuter 
acq	hanson han buy int protein pro stock international proteins corp said has agreed sell private placement common shares dlrs share subsidiary hanson trust plc addition david clarke the president another hanson trust subsidiary hanson industries will named chairman international proteins executive committee upon his election the board the annual meeting international proteins recently acquired clarke family business great south beach sales for restricted common shares which have been issued date international proteins said its agreement with hanson trust subject stockholder approval the annual meeting which expected held june the company said hanson trust purchasing the stock for investment purposes adding the agreement includes restrictions purchase sale the company hanson for the next five years international proteins said will use the proceeds expand domestic operations the company has about mln shares outstanding reuter 
bop	spain has mln dlr current surplus february spain had mln dlr current account surplus february compared with mln dlr surplus january and mln dlr surplus february last year bank spain figures show spain trade deficit narrowed mln dlrs compared with mln dlrs january but the large increase non oil imports contributed the substantial increase over the mln dlr deficit registered february exports billion dlrs were pct compared with february last year but imports were pct higher than last february totalling billion dlrs non oil imports totalled billion dlrs compared with billion february last year reflecting the large ammount investment goods entering the country with the recovery the spanish economy the bank spain said spain tourism earnings continued grow and totalled mln dlrs february compared with mln dlrs january and mln dlrs february last year reuter 
acq	exxon xon south african unit acquired zenex zenex oil pty ltd said acquired the interests esso south africa the local subsidiary exxon corp xon and will use mln rand profits finance educational and social programs the profit scheme will begin after zenex has paid exxon undisclosed purchase price for esso zenex chairman john truscott said statement the acquisition follows the exxon withdrawal from south africa announced last december reuter 
interest	sallie mae adjusts short term discount note rates the student loan marketing association said its rates short term discount notes were follows maturity new rate old rate maturity days pct pct days days pct pct days pct days pct days pct days pct days reuter 
interest	freddie mac adjusts short term discount rates the federal home loan mortgage corp adjusted the rates its short term discount notes follows maturity rate old rate maturity days pct pct days reuter 
grain	argentine grain belt weather report argentine grain belt temperatures centigrade and rain the hours gmt were max temp min temp rainfall buenos aires bahia blanca tres arroyos tandil junin santa rosa cordoba santa reuter 
earn	says mln marks maximum for currency losses losses for volkswagen vowg linked alleged foreign currency fraud will not exceed the mln marks provision already made spokesman said the spokesman was commenting after had confirmed would pay unchanged mark dividend for ordinary shares business despite the provision one west german newspaper today quoted foreign currency dealers frankfurt speculating that the total losses from the currency affair could high billion marks but the spokesman described mln marks upper limit said statement following today supervisory board meeting that had discussed the foreign currency scandal detail and was setting new probe into its foreign currency activities carried out unnamed auditing company has said computer programs were erased and documents were faked the alleged fraud which believes transactions intended protect against possible foreign currency losses were not completed former foreign currency chief burkhard junger was arrested monday suspicion embezzlement and having evaded justice earlier had said that its results would match profits group net profit was mln marks and parent company net was mln marks also said recommend unchanged dividend the supervisory board the company has also set dividend marks for new preference shares which were issued last year analysts have described the held dividend move reassure worried shareholders increased nominal capital marks last year billion marks with the result that its total dividend payment will mln marks compared with mln since the new capital was preference shares the share analysts say will have dig into reserves order maintain the disclosed profit levels the end had parent company reserves slightly less than three billion marks reuter 
earn	federated department stores march sales pct 
coffee	prices generally lower nairobi coffee auction prices were lower this week coffee auction for all grades and qualities except better quality grades which held steady the coffee board kenya said the board said offered bags and sold far this coffee year kenya has sold bags all markets which are for the pool with overall average price shillings tonne added the board will offer bags its next auction april bags price per offered sold average misc total average for sale reuter 
earn	alex brown absb sets split offer shares alex brown inc said has declared three for two stock split payable may record may the company also said has filed offer common shares including sold shareholder with company proceeds used for working capital and general corporate purposes its alex brown and sons inc subsidiary lead underwriter the offering expected made before the record date the split the company said reuter 
earn	highland superstores inc high qtr net period ended jan shr cts cts net revs mln mln year shr dlrs dlrs net revs mln mln avg shrs reuter 
acq	lvi group lvi make acquisition lvi group inc said has agreed principle purchase all outstanding shares spectrum holding corp for proposed mln dlrs cash lvi said additional mln dlrs common stock and seven mln dlrs notes will become payable spectrum has certain minimum future earnings lvi interior construction firm said the acquisition subject execution definitive agreement and completion due diligence lvi and spectrum asbestos abatement concern expect close the deal june lvi said reuter 
earn	texas american tae omits preferred payout texas american energy corp said its board has decided again omit the quarterly dividend its dlr cumulative convertible exchangeable preferred stock the dividend would have been payable may one the company last paid cts share the issue august reuter 
earn	vornado inc vno qtr jan net shr dlrs dlrs net revs mln mln avg shrs mln mln year shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln reuter 
acq	brenda mines selling kerr addison shares brenda mines ltd said sold kerr addison mines ltd shares group underwriters led wood gundy inc and brown baldwin nisker ltd for redistribution financial terms were undisclosed reuter 
acq	phoenix financial phfc buys data access stake data access systems inc said chairman david cohen has sold common shares phoenix financial corp for undisclosed terms and resigned chairman and chief executive officer the company said phoenix financial now has pct interest data access and effective control data access said phoenix chairman martin ackerman has been named chairman data access well and two other phoenix representatives have been named the data access board said four directors other than cohen have resigned from the board reuter 
earn	health and rehabilitation hrp initial payout health and rehabilitation properties trust said declared intitial dividend cts per share for the period ending march the dividend will payed may shareholders record april the company said the company said organized late and closed its intitial public offering shares dec the initital dividend includes five cts attributable the period between dec and and cts attributable the first qtr ending march reuter 
earn	rowe price trow sees higher first quarter rowe price associates said its first quarter earnings rose about pct from the year ago dlrs and revenues about pct from the year ago mln dlrs said expects very good earnings and revenue growth this year earned mln dlrs revenues mln dlrs reuter 
acq	general partners cuts stake gencorp general partners told the securities and exchange commission has reduced its stake gencorp inc pct from pct selling shares price equal dlrs per share general partners which includes holdings inc and general acquisitions inc said yesterday was dropping its dlr share hostile takeover bid for gencorp because gencorp move buy back its shares for dlrs each reuter 
earn	heritage financial services hers qtr net shr cts cts net avg shrs note company had its initial public offering shares october reuter 
earn	national computer nlcs sees earnings growth national computer systems inc expects fiscal year earnings improve about pct the company told analysts although said the april first quarter should show down earnings and virtually flat revenues chairman charles oswald said national computer has taken steps improve margins said revenues are expected increase modestly because the company decision downsize its leasing business nonrecurring revenueslast year from one time texas teacher assessment project and the impact the discontinuance products last year oswald said national computer first quarter results will down result major financial systems sales last year higher effective tax rate and the increased number shares outstanding the company said the next three consecutive quarters should demonstrate excellent earnings growth reuter 
interest	chancellor lawson says there may need cut interest rates some countries 
acq	rexham rxh repurchases stake from nortek ntk rexham corp said has repurchased its shares pct from nortek inc for dlrs each and nortek has withdrawn its proposal acquire rexham for dlrs per share rexham said nortek has also agreed not buy rexham shares take other actions under year standstill agreement the rexham board had rejected the nortek bid inadequate the company also said its board has authorized the repurchase the open market privately from time time additional five pct its own shares and the establishment employee stock ownership plan the plan expected purchase from rexham new convertible preferred stock with pct rexham voting power with proceeds pension plan overfunding and borrowings reuter 
heat	exxon xon cuts heating oil price traders said oil traders the new york area said exxon corp exxon unit reduced the price charges contract barge customers for heating oil new york harbor cent gallon effective today they said the reduction brings exxon contract barge price the price decrease follows sharp declines heating oil prices the spot and futures markets traders said reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days days pct pct days reuter 
earn	strathfield oil and gas ltd year net shr cts cts net revs reuter 
acq	diamond crystal dslt might sell salt unit diamond crystal salt said might sell its salt division the company said retained first boston corp assist with the possible sale the division assuming fair price and reasonable terms can obtained diamond crystal said sale the unit was the best long term interests its shareholders the company also said incorporated its packet products division april one the unit will indirect wholly owned subsidiary called diamond crystal specialty foods inc current management the division will remain reuter 
interest	lawson says some countries could cut rates nigel lawson britain chancellor the exchequer said some countries may need cut interest rates with the aim maintaining exchange rate stability speaking journalists one day after the group seven countries reaffirmed goals set paris six weeks ago said central banks would continue intervene and when necessary said the countries were concerned that japan more stimulate domestic demand and welcomed measures outlined japanese finance minister kiichi miyazawa yesterday lawson said was still worried about the risk simultaneous recession the united states japan and west germany though less than when gave his march budget speech the british parliament anything little bit less concerned but there still risk said asked the united states should consider increasing interest rates support the dollar said there need for changes relative interest rates doesn need rise interest rates the united states lawson said there was some concern expressed yesterday meetings the slow progress the united states had made reducing its budget deficit believe there will some worthwhile progress reducing the deficit this year the important thing that continue year after year lawson said the february louvre accord called for efforts stabilize currencies then current exchange rates the six weeks that followed the japanese yen continued rise against the dollar despite massive central bank intervention asked whether this intervention was sign weakness the louvre accord said don think there had been intervention you would have called that sign weakness although intervention could cause inflation lawson said the world does not appear inflationary mode but one has vigilant said yesterday statement which affirmed that current levels exchange rates were appropriate had been carefully worded know what mean and all mean the same thing said lawson said financial markets seem believe that japanese measures outlined the louvre accord were the source weakness for that agreement therefore the countries welcomed miyazawa presentation plans for supplemental budget stimulate domestic demand they particularly welcomed the goal immediate increase public works spending but lawson said the package also involved second stage increase expenditures during the second half this year reuter 
potato	potato futures trading not suspended trading the london potato futures market will not suspended richard harris chairman the london potato futures association lpfa said statement floor members was response strong representations the potato marketing board pmb complaining gross distortion price which they say will result large deliveries into the physical market when the april futures position expires the pmb had sought immediate suspension futures trading and asked the lpfa take action restore the relationship between futures and physicals farmers and merchants have alleged squeeze and cornering the market but harris pointed out that recent investigations the association futures brokers and dealers afbd the international commodities clearing house icch and other parties found evidence substantiate this the main complaint from some sections the physical market what they say unrealistic futures premium over the pmb average farm price april futures traded this morning between and stg per tonne compared with pmb average price stg bill englebright joint secretary the lpfa said there two tier market for physical potatoes said quality potatoes are short supply and prepackers have been paying between and stg per tonne for best samples but lesser quality grades have traded below stg some merchants fear that large tonnage will delivered against the april futures contract between now and the end the month and possibly disrupt the physical market harris said the lpfa rule book allows the management committee take steps necessary correct any malpractice and assured the committee monitoring the situation reuter 
money-fx	group welcomes latest agreement the group developed nations issued communique welcoming the reaffirmation the paris accord currency stability the group seven leading industrial democracies yesterday the communique issued this morning the said prospects member countries economies would improved stability the exchange rates their currencies the includes the group seven the united states canada britain japan italy west germany and france plus belgium the netherlands sweden and also switzerland sources who attended the conference this morning said the reference the latest agreement was especially added the brief communique because currency stability will benefit all the members the met briefly before the international monetary fund interim committee meeting scheduled for today reuter 
iron-steel	canam manac wins mln dlr contract the canam manac group inc said its canam steel works unit received contract valued mln dlrs supply steel trusses canron inc for new car plant ingersoll ontario canam manac said will produce the trusses its quebec and ontario plants and delivery will completed august reuter 
tin	spot tin easier european free market spot tin the european free market was indicated the easier range stg per tonne for high grade metal warehouse rotterdam down stg from yesterday afternoon kerb close stability sterling versus the dollar continued apply pressure market which coming close testing psychological chart support base stg traders said dealers said major consumers still need cover their may and june requirements but are holding out for even lower offers reported high grade tin business london was confined end april metal stg small scale spot business was reported west german operators and marks per kilo although the market was still being undercut chinese material which traded one stage down marks per kilo traders said reuter 
earn	consolidated papers inc cper qtr net shr dlrs dlrs net sales mln mln reuter 
acq	humana hum sell medical offices humana inc said has agreed principle sell medfirst primary medical care facilities primedical corp for undisclosed terms with transfers taking place over the next four months said retains medfirst offices mostly the chicago area the transaction not expected have any impact earnings humana said reuter 
earn	met coil systems corp mets qtr feb net shr seven cts nine cts net sales mln mln nine mths shr cts cts net sales mln mln qtly div three cts three cts prior pay april record april reuter 
earn	ford raises qtly payout cts shr cts 
money-fx	lawson sees change monetary policy british chancellor the exchequer nigel lawson said saw immediate implications for british monetary policy arising from the group seven meeting yesterday exchange rate stability the interest told journalists asked what meant for monetary policy said not think there are any immediate implications reuter 
earn	ford motor raises qtly payout qtly div cts cts prior pay june one record may one reuter 
iron-steel	talking point steel companies steel stocks which have had healthy runup recently still present some short term investment opportunities according some steel analysts but others say the upturn based strong orders and firm prices this spring has been strictly seasonal and will end soon they recommend taking profits that time year this strictly seasonal said charles bradford merrill lynch and orders will strong for about two months and there are signs that some order rates are starting dive already but dean witter reynolds inc analyst clarence morrison sees some short term potential the group which includes usx corp bethlehem steel corp armco inc and inland steel industries inc iad there still some attractiveness steels over the short intermediate term based improved order rates and rising prices morrison said only recommends one stock however inland which modernizing steelmaking operations make them more efficient despite his bearishness merrill bradford continues recommend armco which sees major turnaround armco steelmaking operations are profitable the balance sheet has been improved and its oilfield equipment business has been slimmed and put joint venture with usx bradford noted not high quality investment situation yet but they come long way said think the stock will moderately better than the market said armco shares trading off today could and possibly high said bradford sees armco earning cts share before special gains from recouped investment tax credits against losses last year armco earnings could significantly higher said bradford recommending sale usx shares had buy below but when gets let somebody else have said the steel and energy concern will earn about one dlr share about half that coming from asset sales and from two dlrs dlrs bradford said but lot depends oil prices added about pct usx sales come from oil and natural gas other analysts including michelle galanter applebaum salomon brothers inc recommend usx the company done lot restructuring more than the market given them credit for she said she sees the stock going the mid higher usx was trading she predicts usx will earn cts share this year and dlrs next year against large losses applebaum who also positive armco and inland has been recommending the stocks since last november peter marcus painewebber inc neutral the group although said the earnings outlook improved through the third quarter but sees potential trouble beyond then think steel prices bookings basis will start drop the summer said applebaum salomon brothers also sees some seasonal dropoff later the year but there are more positives than negatives she said citing reduced capacity the domestic industry better prices and weaker dollar which should cause steel imports drop off slightly from last year reuter 
earn	dekalb corp dklbb qtr feb net shr cts cts net mln mln revs mln mln six mths sdhr cts cts net mln mln revs mln mln reuter 
earn	abbott abt sees gains from weaker dollar abbott laboratories inc said its first quarter record results reflected continued productivity improvement higher volume better product mix and weaker dollar abbott reported first quarter earnings rose record mln dlrs cts share record sales one billion dlrs research and development expenses most which was applied diagnostic and pharmaceutical products increased pct mln dlrs said sales pharmaceutical and nutritional products were mln dlrs the first quarter pct over year ago abbott said hospital and laboratory product sales the first quarter rose pct mln dlrs said first quarter sales domestic markets advanced pct mln dlrs while international sales jumped pct mln dlrs abbott said reuter 
cotton	brazil cotton crop lower usda report brazil cotton crop estimate has been reduced from tonnes lint basis the agriculture department officer sao paulo said field report the report dated april said the reduction based expected smaller harvest the center south region the center south crop now estimated tonnes tonnes below the previous estimate hot dry weather during part january and excessive rains some areas february reduced yield prospects and may have affected quality the report said nearly pct the crop has been harvested parana and slightly less sao paulo said cotton entering gins fairly good quality according trade sources said reuter 
earn	rjr nabisco first quarter net include mln dlr gain mln dlr charge 
cocoa	brazil cocoa exporters unlikely limit sales brazilian cocoa exporters are not likely follow the example cocoa producers alliance cpa members who may limit sales the product effort boost world prices trade sources said they said similar procedure was taken the past brazil and that did not work out according plans the cocoa market completely free unlike coffee which controlled through export registrations cocoa exporters brazil operate their own free will trade source said the traders were responding questions whether they would follow the example cpa members meeting yaounde the sources said the banco brasil foreign trade department cacex never interferes the cocoa market rejecting sales that not meet certain price shipment criteria the position local producers always negotiate they please they buy for ten and sell for eleven and think good deal they are free ahead one source added reuter 
earn	health rehabilitation hrp sets first payout health and rehabilitation properties trust said its board declared initial dividend cts including cts for the first quarter just ended and five cts from its initial operating period that began december the dividend payable may record april reuter 
money-fx	treasury baker says rate shifts orderly treasury secretary james baker said that changes exchange rates have generally been orderly and have improved the prospects for reduction external imbalances more sustainable levels remarks before the imf policy making interim committee baker reiterated group seven statement last night that the substantial exchange rate changes since the plaza agreement months ago have now brought currencies within ranges broadly consistent with economic fundamentals baker said these exchange rate shifts have generally been orderly and have improved prospects for the reduction external imbalances more sustainable levels they are today the trade and current account imbalances simply are not sustainable baker told the ministers said that the reagan administration was resisting strong domestic pressure for trade protection and was working closely with the congress crafting trade bill while cannot yet sure the outcome are doing what can ensure that the bill not protectionist said baker also urged the international monetary fund executive board review possible modifications the fund compensatory financing facility before the annual meeting this fall should pay particular attention the lack continuing conditionality associated with the use the cff and whether shortfalls export earnings are indeed temporary said reuter 
acq	time sell part unit time inc said its time life video inc subsidiary has agreed principle sell its institutional training business time life video president william ambrose for undisclosed terms said the business will operate ambrose video publishing reuter 
trade	sprinkel says tax hike would not reduce deficit council economic advisers chairman beryl sprinkel said the reagan administration remains strongly opposed tax increase including billion dlrs new revenues the budget plan congressional democrats believe that significant increases taxes would not reduce deficits and could have adverse effects growth sprinkel told the house rules committee said the administration wanted continue its policy gradually reducing deficits through restraining government spending and promoting economic growth sprinkel said cutting the budget deficit was the best way lower the trade deficit reuter 
earn	royal business group inc roy qtr march one shr cts five cts shr diluted cts five cts net revs not given half shr cts one shr diluted cts one net revs not given note current year net both periods includes gain dlrs from repurchase securities results exclude business forms division which sold reuter 
earn	mse cable systems inc qtr net shr nil nil net vcs revs avg shrs year shr nil nil net revs avg shrs note share adjusted for one for reverse split reuter 
earn	rule industries inc rule qtr feb net shr cts cts net revs half shr cts cts net revs mln mln reuter 
acq	new jersey investor buys pct kinark kin new jersey investor joseph falkenstein told the securities and exchange commission holds pct the shares kinark corp said has plans change the company and that bought the shares because believed the stock was undervalued and would rise the next six months reuter 
earn	national distillers sees second qtr gain national distillers and chemical corp expects realize second quarter after tax gain four dlrs per share from the mln dlr sale its spirits business american brands inc amb national distillers stock rose after opening delay the new york stock exchange for imbalance orders think the sales price was higher than most people expected said john henry hutton group company spokeswoman said the four dlr per share gain will included second quarter net which compares with cts per share last year including the spirits and wine business they netted over mln dlrs for spirits and wine that will ease their interest cost burden said henry national distillers sold its wine business last month grand metropolitan plc heublein inc for mln dlrs henry said had anticipated national distillers would net only mln dlrs the most from the sale the two liquor businesses henry said the company recovered from the sales the cost buying enron chemicals the fourth quarter last year national distillers paid mln dlrs cash for enron and assumed mln dlrs debt national distillers said the time bought enron would sell the spirits and wine businesses moving more into the chemical area for two thirds income were from chemicals and propane national distillers earned excluding the liquor businesses dlrs per share for income from discontinued operations including the liquor businesses was cts per share reuter 
orange	weather hurts italian oranges usda report unfavorable weather conditions during the second week march caused damage oranges the calabria region southern italy the agriculture department officer rome said field report the report dated april said the region accounts for about hectares the italian orange crop about pct total production however orange production the region for marketing year forecast tonnes pct the total italian orange crop said the report said trade contacts agree that about pct the orange output calabria was damaged frost reuter 
earn	waste recovery inc wrii qtr net shr loss eight cts loss nine cts net loss loss revs avg shrs year shr loss cts loss cts net loss loss revs avg shrs reuter 
earn	branch corp bnch qtr net shr primary cxts shr diluted cts cts net assets billion billion deposits billion billion loans billion billion reuter 
acq	kurz kasch ups stake component tech ctec kurz kasch inc dayton thermoset molding maker told the securities and exchange commission had increased its holdings component technology corp two pct pct said bought the shares stock dlrs share for investment purposes reuter 
earn	zayre corp raises quarterly qtly div cts eight cts prior pay june four record may reuter 
earn	rjr nabisco rjr has offsetting gains charges rjr nabisco inc said its first quarter results will include after tax gain mln dlrs from the sale heublein inc and offsetting charges the company said its operations are performing well and line with expectations rjr nabisco said the charges reflect reserves established cover certain expenses rjr nabisco said the expenses covered after tax basis include mln dlrs for the write down redundant equipment and facilities resulting from modernization its tobacco operations mln dlrs for continuing restruction its food subsidiaries and mln dlrs connection with the early retirement high coupon debt reuter 
earn	baybanks inc bbnk qtr net oper shr dlrs cts oper shr diluted dlrs cts oper net mln mln avg shrs mln mln avg shrs mln mln note net excludes gain dlrs from cumulative effect change calculating depreciation expense reuter 
money-fx	france balladur says target zone notion nearer french finance minister edouard balladur said that the financial community closer arriving system target zones for currencies despite the fact that little being said about them speaking with reporters the semiannual meetings the international monetary fund balladur said are not very far from the notion target zones even don say told reporters that our ideas are progressing adding that the finance ministers have been talking about more cooperation economic policies and levels around which currencies should stabilize reuter 
earn	student loan marketing association slm qtr shr cts cts net mln mln assets billion billion reuter 
acq	industries jpi confirms proposal industries inc confirmed the announcement clevite industries inc clev that industries has submitted proposal clevite for the acquisition the company dlrs per share cash john psarouthakis chairman and president industries said that the company hopes promptly negotiate agreement with the special committee clevite board february industries said purchased clevite engine parts division industries said not aware any other reason for activity its stock reuter 
earn	meditrust mtrus raises quarterly qtly div cts cts prior pay may record april reuter 
earn	monsanto mtc unit sees operating loss monsanto corp searle and unit said will report operating loss for mainly due expenses for research and development searle chairman sheldon gilgore said searle operating loss will less than the mln dlr operating loss said searle first quarter sales will pct mln dlrs from mln dlrs the year ago quarter searle sales were mln dlrs gilgore said the company intends have sales three billion dlrs the mid said the company anticipates approval japan the italy spain and the for its ulcer treatment drug cytotech also said that paper not yet published the drug was shown prevent flare ulcers for longer period time than tagamet made smithkline beckman corp skb other drugs searle pipeline include tissue plasminogen activator tpa made different process than genentech gene tpa expected approved for marketing this year reuter 
earn	status game corp stgm qtr feb net oper shr six cts one oper net revs avg shrs nine mths oper shr cts five cts oper net revs avg shrs note share adjusted for pct stock dividend december prior year net excludes tax credits dlrs quarter and dlrs nine mths net excludes discontinued amusement game operations gains dlrs dlrs quarter and loss dlrs gain dlrs nine mths reuter 
earn	universal foods corp ufc votes dividend qtly div cts cts prior qtr pay may record april reuter 
earn	betz laboratories inc betz sets quarterly qtly div cts cts prior pay may record april reuter 
earn	northwestern national life nwnl ups payout qtly div cts cts prior pay may record april note northwestern national life insurance reuter 
acq	foothill fgi sierrita standstill accord foothill group inc said reached standstill agreement with santa cruz resources inc and its parent sierrita resources inc that bars the companies from acquiring more than pct interest foothill except through business combination approved foothill board the company also said santa cruz has advised that owns pct foothill outstanding common stock addition santa cruz and sierrita have agreed vote their shares accordance with instructions from the foothill board connection with certain business combinations and certain anti takeover matters foothill said foothill said the arrangement also bars santa cruz and sierrita fron tendering any foothill securities owned them into any tender offer unless certain unspecified conditions are met reuter 
earn	first federal michigan ffom qtr net shr dlrs dlrs net avg shrs mln mln reuter 
acq	colonial bancgroup clbga makes acquisition colonial bancgroup said has signed letter intent acquire community bank and trust hartselle ala with assets mln dlrs for undisclosed terms subject approval regulatory authorities and community bank shareholders completion expected within the next year said reuter 
earn	fab industries inc fit qtr feb net shr cts cts net revs mln mln reuter 
earn	northern trust corp ntrs qtr net shr cts cts net mln mln assets billion billion loans billion billion deposits billion billion reuter 
earn	home savings bank hmsb qtr net shr cts not given net note company went public november net includes loan loss provisions dlrs dlrs and gains sale securities dlrs dlrs pretax net includes tax credit dlrs net includes dlr gain from tax credit resulting reduction goodwill reuter 
earn	amoskeag bank shares inc amkg qtr net shr cts cts net note net includes pretax securities sales gains dlrs dlrs reuter 
earn	msr exploration ltd msr year loss shr loss five cts profit cts net loss profit revs note canadian dollars proved oil reserves year end mln barrels pct from year earlier and natural gas reserves billion cubic feet off nine pct reuter 
earn	southmark offer special dividend southmark corp said will issue its shareholders special dividend right acquire shares american realty trust arb for each shares southmark they own each right entitles the holder buy one share beneficial interest american realty trust price dlrs per share southmark said southmark said the offer record date may with dividend date april adding that the will issue the rights shareholders may and the offer will expire may southmark said received the rights april the holder about pct american realty trust outstanding shares holders fewer than southmark shares who would receive rights acquire fewer than american realty shares will paid cash lieu the rights distribution the company said southmark said will compute the cash price paid based the average closing market price the rights the american stock exchange for the first ten days the rights are traded beginning april order get the dividend for these rights southmark shareholder must own common stock the dividend date april the company said after that southmark said its common stock will traded rights basis reuter 
acq	taft broadcasting tfb completes station sale tvx broadcast group inc tvxg said has completed the previously announced purchase five taft television stations last week tvx said the sale which was scheduled close then had been delayed taft said the purchase price was mln dlrs previously announced the price subject final adjustments taft said taft did not indicate the size the gain any would post the sale said the stations are wtaf philadelphia wdca washington wcix miami ktxa dallas and ktxh houston reuter 
retail	march retail sales cut late easter retailers lackluster march sales were due late easter according analysts who expect recovery april sales look soft because the easter shift but underlying business better than the numbers indicate said bear stearns analyst monroe greenstein analysts generally average the sales results march and april account for the variation easter occurance this year easter being observed april which three weeks later than last year analyst edward johnson johnson redbook associates said sales for march rose unadjusted pct and seasonally adjusted pct six pct compared adjusted pct last year the obvious question whether these numbers indicate that the consumer activity slowing but does not appear because liquidity and employment are rising said analyst jeff edelman analyst drexel lambert and burnham overall analysts said first half sales are coming according expectations sales for all are expected rise about pct six pct bit from rise march sales housewares furniture and big ticket items were stronger than apparel sales signaling many analysts that apparel sales will strong april the holiday nears sales gains home appliances and home fashions reflect continuing strength the housing market said edward brennan chairman sears roebuck and which reported overall sales gain pct brennan said sales women sportswear were also excellent sears total apparel sales was only modestly but even modest improvement apparel very good accomplishment due the fact that most people will buy apparel april said lawrence analysts harry mortner penney inc jcp and dayton hudson corp were among the weaker performers with comparable stores sales declining pct and pct respectively penney store and catalog sales declined pct overall and dayton hudson overall sales rose pct penney chairman william howell said sales continued strong for catalog operations and geographically ranged from very active the east weak the economically depressed southwest penney been shifting away from leisure time activity wear other apparel lines which yield higher profit margins but are currently hurting sales said greenstein bear stearns hudson chairman kenneth mackes cited the late easter for the decline edelman drexel said that hudson had tougher comparison because had exceptionally good most analysts agreed that promotions are slightly lower than last year retailers are not planning for much inventories are being kept lean markdowns are lower than last year but sales are coming through anyway said analyst harry mortner mortner said expects profits the first quarter better than had originally expected the beginning the year most retailers report their first quarter the middle may march retail sales for major retailers store pct sears bil bil mart bil bil penney bil bil wal mart bil mln federated mln mln may mln mln dayton mln mln woolworth mln mln zayre mln mln reuter 
earn	first interstate expects brazil ecuador loan actions cut net mln dlrs 
earn	midlantic corp midl qtr net shr diluted dlrs dlrs net mln mln assets billion billion deposits billion billion loans billion billion note results restated for merger midlantic banks inc and continental bancorp inc january reuter 
earn	community bank system inc cbsi qtr net shr cts cts net note share adjusted for two for one stock split may reuter 
earn	fitchburg gas fge raises quarterly qtly div cts cts prior pay may record may one reuter 
earn	northern trust ntrs net hurt brazil loans northern trust corp said its first quarter earnings were reduced dlrs placing mln dlrs loans brazil and six mln dlrs loans ecuador cash basis should these loans remain nonperforming basis for the rest net income for year will cut about mln dlrs the bank said earlier posted net income for the period mln dlrs cts share from mln dlrs cts share total nonperforming assets were mln dlrs march from mln dlrs december and mln dlrs march the bank said the provision for loan losses for the first quarter was eight mln dlrs compared mln year ago net loan charge offs were six mln dlrs down from mln dlrs year ago the reserve for loan losses was mln dlrs two pct outstanding loans higher than the mln dlrs pct loans outstanding march reuter 
lead	doe run raises lead price cts doe run company said increasing the price its corroding grade lead one half cent cents effective immediately the price quoted fob herculaneum and fob boss with freight allowed for carload quantities reuter 
reserves	spain foreign reserves rise february spain foreign reserves rose mln dlrs february total billion dlrs compared with billion dlrs february bank spain figures show under new accounting system introduced this month spain foreign reserves now exclude foreign currency held financial institutions under the previous system spain foreign reserves would have risen mln dlrs february taking into account fall mln dlrs financial institutions foreign currency position january this year the central bank foreign reserves rose mln dlrs while financial institutions foreign currency position fell mln dlrs reuter 
earn	sulpetro ltd qtr jan loss shr not given net loss loss revs mln mln note previous loss restated reuter 
earn	western federal savings bank wfpr qtr net shr cts cts net note share adjusted for pct stock dividend july company based mayaguez puerto rico reuter 
earn	final test inc fnlt qtr loss shr loss six cts loss cts net loss loss revs year shr profit six cts loss dlrs net profit loss revs reuter 
acq	protective life prot acquisition protective life corp said has signed letter intent assume liberty life insurance group insurance july subject regulatory approvals terms were not disclosed reuter 
earn	smith corp smc sets quarterlies qtly divs class and cts cts pay may record april reuter 
earn	central bancorp inc cban qtr net shr dlrs cts net mln mln note net includes gain dlrs from termination pension plan results restated for pooled acquisitions and share adjusted for stock dividends reuter 
acq	emcor completes sale stock investors emcore said completed the sale mln dlrs stock citicorp venture capital ltd concord ventures dillon read and and private investors reuter 
earn	vlsi technology inc vlsi qtr net shr seven cts six cts net revs mln mln avg shrs reuter 
bop	belgian current account surplus widens belgium current account surplus measured cash basis widened sharply billion francs last year from billion the finance ministry said the increase was due almost entirely sharp rise the goods trade surplus billion francs from billion the services trade surpluses increased billion francs from billion while the deficit transfers rose slightly billion from billion private sector capital operations showed steeply higher deficit billion francs after billion reuter 
earn	silicon systems inc slcn qtr march shr profit five cts profit two cts net profit profit revs mln mln six mths shr profit nine cts loss cts net profit loss revs mln mln reuter 
earn	shawmut corp shas qtr net shr dlrs dlrs net mln mln avg shrs mln mln assets billion billion deposits billion billion loans billion pct note results restated for pooled acquisitions shawmut home bank and fidelity trust and include first gibraltar mortgage corp from december purchase loan loss provision dlrs dlrs reuter 
earn	minntech mntx sees first quarter loss minntech corp said expects report loss for its fiscal first quarter end june due start costs related new membrane oxygenator and water filtration products however revenues and earnings should consistently increase throughout the remainder the year president louis cosentino told analysts reuter 
gold	gordex minerals locates gold deposits gordex mineral ltd said geologists located more than one mln tons gold bearing deposits ounces per ton cape spencer the company said plans invest mln canadian dlrs expand site treatment facilities process tons gold bearing deposits this year and tons prior the completion the recent exploration program gordex estimated the cape spencer deposit had tons gordex said the expansion the cape spencer facilities intented enable operate hours day throughout the year reuter 
sugar	congressman introduces reagan sugar bill rep john porter ill introduced the house representatives legislation proposed the reagan administration slash the sugar price support spokesman for porter said the spokesman said the bill was introduced without any changes from the administration proposal sent congress last month that plan calls for cut the sugar loan rate cents per pound from cents now sugar growers would compensated for the price cut with targeted direct payments gradually phased out through the payments growers would cost estimated billion dlrs representatives sugar growers have rejected the proposal saying would ruin the domestic sugar industry reuter 
interest	canada day bills average pct making bank rate pct 
earn	republic savings and loan rsla qtr net shr cts not available net nine mths net note company converted stock ownership effective august periods end march and respectively reuter 
earn	southmark issue american realty rights southmark corp said shareholders will issued special dividend rights acquire shares american realty trust arb for each shares southmark owned the record date for southmark shareholders receive these rights will may one with dividend date april southmark received these rights april six the holder about pct american realty trust outstanding shares reuter 
acq	wall street stocks ual inc ual takeover speculation continues fuel heavy trading ual inc traders said ual rose volume more than two mln shares after trading with little upward movement earlier the session traders said rumors which began yesterday added speculation that the company would the target takeover they said was believed coniston partners and the pritzker family chicago were buying the stock coniston declined comment and the pritzkers had comment traders said there was speculation bidder might appear and also that real estate developer donald trump who holds stake ual might participate takeover bid ual pilots said they would willing pay billion dlrs which includes debt for the company united airlines unit reuter 
gold	gordex minerals locates canada gold deposits gordex mineral ltd said geologists located more than one mln short tons gold bearing deposits ounces per ton cape spencer the company said plans invest mln canadian dlrs expand site treatment facilities process tons gold bearing deposits this year and tons prior the completion the recent exploration program gordex estimated the cape spencer deposit had tons gordex said the expansion the cape spencer facilities intended enable operation hours day throughout the year reuter 
interest	canadian bank rate rises week canada key bank rate rose pct from pct the week before bank canada said bank rate set percentage point above the average yield the weekly issue day treasury bills this week yield was pct compared with the previous week pct tenders were accepted for billion dlrs day bills average price dlrs against dlrs last week the billion dlrs day bills were priced average dlrs against dlrs last week yield average pct versus pct last week the mln dlrs day bills were priced average dlrs against dlrs last week yield average pct versus pct last week tenders will received next week for billion dlrs day bills billion dlrs day bills and mln dlrs day bills reuter 
tin	consensus seen tin pact extension the quarterly session the international tin council itc continued without formal agreement extension the sixth international tin agreement ita but delegates said was apparent there was general consensus the agreement should prolonged some delegations are still awaiting formal instructions from capitals but informally most have indicated they favour extension delegates said this afternoon session was used delegates seek further clarification some the issues involved and discuss internal matters some sources were optimistic resolution extension could passed tomorrow but others suggested special session would convened adopt the resolution after the association tin producing countries meeting april the full council session resumes tomorrow gmt after european community coordination meeting reuter 
earn	slater electric inc slat qtr feb net shr four cts cts net sales mln reuter 
earn	south jersey industries inc sji qtr net oper shr dlrs dlrs oper net revs not given mths oper shr dlrs dlrs oper net mln note net income including discontinued operation and both periods dlr gain from change accounting for which results restated dlrs dlrs quarter and mln dlrs mln dlrs reuter 
earn	city national corp ctyn qtr net shr cts cts net loans billion billion deposits billion billion assets billion billion reuter 
earn	allied bankshares inc abga qtr net shr cts cts net note qtr includes tax gain dlrs cts per share reuter 
heat	royal dutch unit cut heating oil price royal dutch shell scallop petroleum subsidiary said will reduce the price charges contract barge customers new york harbor for heating oil cts gallon effective tomorrow the company said the price cut will bring the contract barge price for heating oil cts gallon reuter 
copper	magma raises copper price cts magma copper subsidiary newmont mining corp said raising its copper cathode price cent cents effective immediately reuter 
earn	first bank system inc fbs qtr net shr cts cts net mln mln assets billion billion loans billion billion reuter 
earn	centerre bancorp ctbc qtr net shr cts dlrs net loans billion billion deposits billion billion assets billion billion reuter 
earn	sea galley stores inc seag qtr net oper shr four cts one oper net revs mln mln note current qtr figures exclude operating loss carryforward gain dlrs two cts per share gain dlrs one per share reuter 
strategic-metal	house panel wants pentagon manage stockpile the house armed services committee has voted for transfer the management stockpiled materials for national defense the defense secretary the committee also voted for legally binding quantity and quality requirements the materials mostly metals the measures are part the defense authorization bill which will voted the house next month the purpose the measures passed the committee yesterday improve stockpile management and discourage sell offs materials that could jeopardize strategic needs staff member the committee told reuters they the stockpiles stand gain the most being managed properly said the staffer management the stockpile over the last years has been atrocious responsibility for stockpile management now belongs white house agency the federal emergency management agency the staffer said under the measures passed the committee the secretary defense would have more influence over decisions keep sell strategic stockpile materials the administration has proposed goal million dlrs worth strategic materials held the stockpile the stockpile now contains around billion dlrs materials said several agencies currently helped fema manage the stockpile and decide how much sell help the deficit these agencies included the office management and budget and the departments interior and commerce said the committee believed the shared involvement stockpile management was counter productive said reuter 
trade	canada trade rise seen start recovery canada trade picture has brightened considerably underscoring economists predictions the sector would post long awaited recovery this year the federal government reported today that the monthly surplus soared billion canadian dlrs february double january mln dlrs surplus and sharply higher than february mln dlr tally hopefully the beginning trend said richardson greenshields canada ltd economist susan clark toronto economists generally don expect such large gains over the next months but are looking for upward trend throughout the year thought the trade balance would improve over the year and certainly looks this morning figure indicative that commented economist james donegan the toronto securities firm midland doherty ltd statistics canada reported the surplus was driven pct gain automobile product exports record billion dls the month recovery the automotive sector helped push the value exports pct february the agency said its monthly report total exports expanded billion dlrs from billion dlrs february while imports slipped billion dlrs from billion dlrs economists have predicted the trade surplus would end three five billion dlrs higher than last year dismal billion dlr total the surplus was billion dlrs money market analysts said the positive trade news touched off modest rally the canadian dollar which rose cts north american markets early this morning after closing cts wednesday the currency was hovering around cts early afternoon trading economists have been banking improved trade performance this year stimulate otherwise sluggish canadian economy money market analysts said the positive trade news touched off modest rally the canadian dollar which rose cts north american markets early this morning after closing cts wednesday the currency was hovering around cts early afternoon trading economists have been banking improved trade performance this year stimulate otherwise sluggish canadian economy they say the country consumers who have been spending torrid pace recent years will sharply curtail outlays this year and this should help curtail the flow imports into the country meanwhile demand for canadian exports the united states far the country largest market expected strong result projected rise american consumer spending and the relatively low value the canadian currency maintain what going drive canada export performance income growth the said midland donegan but the bank nova scotia deputy chief economist warren jestin was less optimistic about the outlook and said could mistake read too much into february trade upturn jestin said given the fact the economy showing signs weakening particularly car sales would indicate that part the strength canada trade figures probably transitory reuter 
earn	first bank fbs sees loss brazilian loans first bank systems inc reporting higher first quarter net said that interest not paid the mln dlrs brazilian loans and nine mln dlrs ecuadorian loans for the rest its profits for the entire year will cut mln dlrs the banking firm said the non performing status these loans cut first quarter net mln dlrs earlier reported first quarter profits mln dlrs cts share from mln dlrs cts share the year ago period nonaccrual loans restructured loans and other real estate were mln dlrs pct total assets compared mln dlrs pct assets the end and mln pct assets march the provision for loan losses the quarter was mln dlrs compared mln the first quarter when there was special addition the reserve mln dlrs net charge offs were mln compared mln dlrs year earlier reuter 
grain	usda estimates ussr grain imports mln tonnes march year ago 
grain	usda estimates soviet grain crop mln tonnes march year ago 
orange	usda orange crop boxes florida crop boxes 
orange	usda estimates orange juice yield gals per box from florida crop 
earn	vornado inc vno qtr jan net oper shr dlrs cts oper net revs mln mln avg shrs year oper shr dlrs dlrs oper net mln mln revs mln mln avg shrs note operating net excludes gains nothing dlrs cts share quarter and dlrs cts share dlrs dlrs share year from tax loss carryforwards reuter 
earn	first union corp first qtr shr cts cts 
orange	citrus crop estimate usda the agriculture department estimated citrus production follows boxes total orange crop excluding florida temples boxes boxes last month and boxes the crop florida oranges excluding temples boxes last month and boxes florida temples boxes last month and boxes the department estimates are based april crop conditions reuter 
orange	usda orange juice yield estimate the agriculture department projected average yield gallons frozen concentrated orange juice per box degree brix equivalent from florida crop that compares with gallons per box previously and gallons per box from the crop the crop reporting board said the estimates for the season are based maturity and yields tests april reuter 
potato	usda spring potato estimates the agriculture department estimated spring potato production based april conditions cwts lbs cwts indicated last year the department estimated spring potato area for harvest acres acres estimated last month and acres harvested last year spring potato yield per harvested acre forecast cwt per acre cwt per acre year ago usda said reuter 
potato	usda revises summer potatoes the agriculture department made the following revisions for crop summer potatoes production cwt lbs cwt estimated previously acreage for harvest acres acres estimated previously yield per harvested acre cwt per acre cwt per acre previously estimated the department said reuter 
acq	clevite clev amends rights plan clevite industries inc which earlier received mln dlr takeover offer from industries inc jpi said amended its shareholder rights plan that certain provisions the plan cannot occur until the board determines that the best interests the company and stockholders the plan adopted december permits clevite issue shares half price existing stockholders and allows stockholders buy shares unfriendly bidder half price clevite said the amendments its board effectively mean that the called flip and flip over provisions its rights plan can only triggered affirmative board approval the company said acted inview the proposed acquisition and because certain debt restrictions could block its ability redeem the rights reuter 
earn	stop and shop cos for split hikes dividend 
strategic-metal	house panel wants pentagon manage stockpile the house armed services committee has voted for transfer the management stockpiled materials for national defense the defense secretary the committee also voted for legally binding quantity and quality requirements the materials mostly metals the measures are part the defense authorization bill which will voted the house next month the purpose the measures passed the committee yesterday improve stockpile management and discourage sell offs materials that could jeopardize strategic needs staff member the committee told reuters they the stockpiles stand gain the most being managed properly said the staffer management the stockpile over the last years has been atrocious responsibility for stockpile management now belongs white house agency the federal emergency management agency the staffer said that under the measures passed the committee the secretary defense would have more influence over decisions keep sell strategic stockpile materials the administration has proposed goal million dlrs worth strategic materials held the stockpile the stockpile now contains around billion dlrs materials said several agencies currently helped fema manage the stockpile and decide how much sell help the deficit these agencies included the office management and budget and the departments interior and commerce said the committee believed the shared involvement stockpile management was counter productive said reuter 
cotton	usda estimates ussr cotton crop the agriculture department forecast the soviet cotton crop mln bales lbs net mln bales forecast last month the department also estimated the soviet cotton crop mln bales mln bales last month reuter 
earn	stop and shop cos shp two for one split the stop and shop cos inc said its board voted two for one stock split payable july one stockholders record may also said was raising its quarterly cash dividend pct cts per share from cts per share prior result the split the number outstanding shares will increase mln from mln the company said the dividend payable july one shareholders record may said reuter 
acq	national beverage acquire faygo beverages national beverage corp said agreed acquire faygo beverages inc for undisclosed amount cash faygo has revenues excess mln dlrs national beverage said reuter 
earn	audio video affiliates ava qtr jan net shr cts cts net revs mln mln avg shrs mln mln mths shr cts cts net revs mln mln avg shrs mln mln note full name company audio video affiliates inc reuter 
acq	fluorocarbon fcbn buys eaton etn division fluorocarbon said signed definitive agreement acquire eaton corp industrial polymer division for undisclosed price the polymer division based aurora ohio had sales mln dlrs fluorocarbon also said reuter 
earn	first union corp func qtr net shr cts cts net mln mln note current qtr includes gain seven cts shr from sale securities year ago restated reuter 
earn	financial news network inc fnni qtr net qtr ended february shr six cts three cts net rev mln mln avg shares six months shr cts five cts net rev mln mln avg shares reuter 
earn	first colonial bankshares corp fcola qtr shr cts cts net avg shrs reuter 
acq	hawaiian electric buy hawaiian insurance hawaiian electric industries said has entered letter intent buy the hawaiian insurance companies the transaction subject definitive agreement and government and board approvals the hawaiian insurance companies assets the end mln dlrs and earned premiums mln dlrs hawaiian electric said plans operate the comapny which has employees with current management reuter 
acq	disney family makes bid for holly sugar hly the roy disney family disclosed filing with the securities and exchange commission that made bid acquire holly sugar corp for package cash and securities shamrock holdings california inc disney family company said submitted the bid april salomon brothers inc holly sugar investment banker the offer was for dlrs cash securities with face value dlrs and contingent payment certificate that would pay out much dlrs over year period for each share holly sugar outstanding the disney family already holds holly sugar shares pct the total outstanding following purchases shares march april shamrock told the sec shamrock said had asked for certain information about holly sugar financial condition but had been turned down said its offer was therefore subject further discussions once have had opportunity complete our due diligence evaluation the company including inspections certain facilities and meetings with key management personnel would prepared negotiate all aspects our proposal including price said its april letter reuter 
earn	universal health realty uht qtr net shr cts nil net nil rev mln nil note company full name universal health realty income trust quarter company first full quarter earnings reuter 
earn	frost and sullivan inc frsl increases payout semi annual div seven cts six cts prior pay june one record may one reuter 
acq	cmco makes acquisition said acquired for mln dlrs the principal assets national tech industries inc and telkon corp the companies are engaged servicing sales and telemarketing consumer electronic merchandise reuter 
earn	rai research corp rac qtr feb shr one cts cts net revs mln mln nine months shr cts cts net revs mln mln note net includes loss nine months from discontinued and gain dlrs qtr reuter 
acq	centel cnt completes acquisition centel corp said completed the acquisition welbac cable television corp which serves more than cable television subscribers east central michigan terms were not disclosed with the addition welbac customers centel cable television michigan serves more than customers overall centel has nearly customers seven states reuter 
earn	james river corp sets regular payout qtrly div cts cts prior pay april record april reuter 
earn	three departments inc tdd sets payout class qtly div cts cts prior class qtly div cts cts prior pay may record april reuter 
earn	adams express adx march assets shr dlrs dlrs assets mln mln shrs out mln mln note lastest assets after capital gain distributions cts share february and dlrs share december reuter 
earn	petroleum and resources corp peo march shr dlrs dlrs assets mln mln shrs out note latest assets after capital gain distributions cts share february and cts share december and with stated value dlr convertible preferred stock outstanding reuter 
acq	international american home acquire cos international american homes inc said entered into conditional contract acquire the maione hirschberg cos inc and affiliated entitles for mln dlrs international american whose stock was halted nasdaq earlier said the purchase price payable mln dlrs cash and the balance its own common shares selling shareholders may earn additional amount maximum eight mln dlrs payable cash based the future performance the companies acquired during the three years ending march international said the acquisition subject certain conditions such satisfactory results due diligence investigations the company said reuter 
earn	sony chairman forecasts lower profits this year sony corp sne chairman akio morita said sony profits would sharply down result the dollar decline sony corp posted net consolidated income billion yen million dollars pct down billion yen million dollars but morita added that japan would benefit from the strong yen saving its energy import bill and expected profits recover from onwards was speaking reporters sony factory opening here reuter 
grain	coarse grain supply demand country usda the agriculture department detailed world supply demand data for major importers and exporters coarse grains country follows mln tonnes ussr coarse grain start stcks production imports domes use exports nil nil nil nil end stocks not available coarse grain mln tonnes start stcks production imports dom use exports end stocks eastern europe coarse grain mln tonnes start stcks production imports dom use exports end stocks japan coarse grain mln tonnes start stcks production imports dom use exports nil nil nil nil end stocks argentina coarse grain mln tonnes start stcks production imports nil nil nil domes use exports end stocks canada coarse grain mln tonnes start stcks production imports dom use exports end stocks thailand coarse grains mln tonnes start stcks production imports nil nil nil nil domes use exports end stocks reuter 
acq	winn enterprises wnn unit sells dairy winn enterprises knudsen foods inc said entered agreement sell its hawaiian dairy operations foremost foods inc for mln dlrs cash the company said the purchase price subject adjustment and the entire transaction subject approval the bankruptcy court for the central district california reuter 
acq	national beverage acquire faygo national beverage corp said agreed acquire privately held faygo beverages inc for undisclosed amount cash the company said detroit based faygo soft drink maker has annual revenues more than mln dlrs national beverage which also privately held owns and bottles shasta beverages spree all natural beverages and private label brands its bottling facilities the united states reuter 
fuel	royal dutch unit raise heavy fuel prices scallop petroleum corp subsidiary royal dutch shell group said will raise contract prices for heavy fuel cts one dlr barrel effective tomorrow the increase brings the price for pct sulphur fuel dlrs cts pct sulphur dlrs cts pct sulphur dlrs cts one pct sulphur dlrs cts two pct sulphur dlrs one dlr pct sulphur dlrs one dlr pct sulphur dlrs one dlr the company said price for pct sulphur was unchanged dlrs said reuter 
cotton	cotton supply demand country usda the agriculture department detailed world supply demand data for major importers and exporters cotton country follows mln bales china cotton start stcks production imports domes use exports end stocks less than bales pakistan cotton mln bales start stocks production imports domestic use exports end stocks less than bales ussr cotton mln lbs bales start stocks production imports domestic use exports end stocks japan cotton mln lbs bales start stocks production nil nil nil nil imports domestic use exports nil nil nil nil end stocks reuter 
orange	usda florida orange report considered bearish the agriculture department latest estimates florida orange production and orange juice yield are bearish for the frozen concentrated orange juice futures market because the yield increase was greater than expected fcoj traders and analysts said the usda projected average yield gallons fcoj per box versus last month estimate gallons the government estimated florida orange production excluding temples mln boxes versus mln last month temples were unchanged mln boxes traders and analysts said the unexpectedly large yield increase outweighed the anticipated drop box count reuter 
earn	james river corp sets regular dividend qtly div cts cts prior pay april record april reuter 
copper	noranda begins salvage operations murdochville noranda inc said began salvage operations its murdochville quebec mine where fire last week killed one miner and caused mln dlrs damage another miners were trapped underground for long hours before they were brought safety noranda said the cause and full extent the damage still unknown but said does know that the fire destroyed feet conveyor belt noranda said work crews have begun securing the ramp leading into the zone where the fire was located the company said extreme heat from the fire caused severe rock degradation along several ramps and drifts the mine noranda estimated that the securing operation for the zone will not completed before the end april noranda said the quebec health and safety commission the quebec provincial police and noranda itself are each conducting investigation into the fire production the mine has been suspended until the investigations are complete the copper mine and smelter produced tons copper anodes and employs people the smelter continues operate with available concentrate from stockpiled supplies noranda said reuter reuter 
earn	newhall investment properties nip payout shr cts cts prior qtr pay june one record april reuter 
earn	newhall resources qtly distribution shr cts cts prior qtr pay june one record april reuter 
earn	westinghouse electric corp qtr shr dlrs cts 
crude	oil dependency seen rising record level the united states dependency foreign oil sources may reach record levels the mid according john lichtblau president petroleum industry research associates lichtblau speaking alternative energy conference here said the may depend foreign suppliers for much pct its oil surpasssing the previous high level pct the long term growth dependency foreign oil inevitable lichtblau said much pct oil imports could come from opec nations said lichtblau said the depended foreign suppliers for pct its oil and predicted that would increase pct however the rate this growth can affected positively negatively through government action inaction lichtblau said said that one the government negative actions the maintenance the windfall profits tax which acts disincentive developing existing fields and reduces cash flow for oil exploration lichtblau called for the adoption international floor price for crude oil help stabilize world oil prices international floor price adopted all most industrial countries would clearly much more effective measure and would much less distortive for the than imposed alone lichtblau said development alternate energy sources such synthetic fuels well increased development alaska could lessen dependency foreign oil lichtblau said potential for alternative supplies could limit the willingness opec nations raise oil prices said lichtblau also called for the federal government offer tax abatements for oil drilling fill the strategic petroleum reserve faster rate and develop pilot plans for alternative energy reuter 
earn	westinghouse electric corp qtr net shr primary dlrs cts shr dilulted dlrs cts net mln mln revs billion billion avg shrs mln mln reuter 
livestock	ccc guarantees iraq switched usda the commodity credit corporation ccc has transferred mln dlrs credit guarantees previously earmarked for sales hatching eggs and mln dlrs guarantees for breeder livestock increase coverage sales protein concentrates iraq the agriculture department said the action was taken the request iraq state trade organization for grains and foodstuffs and reduces the line for hatching eggs zero and the line for breeder livestock from mln dlrs mln dlrs the department said the guarantee line for sales protein concentrates has been increased from mln dlrs mln dlrs said reuter 
money-supply	new york business loans fall billion dlrs commercial and industrial loans the books the major new york banks excluding acceptances fell billion dlrs billion the week ended april the federal reserve bank new york said including acceptances loans dropped billion dlrs billion commercial paper outstanding nationally fell billion dlrs billion national business loan data are scheduled released friday reuter 
money-supply	bank discount borrowings mln dlrs the eight major new york city banks had daily average borrowings mln dlrs from the federal reserve the week ended april fed spokesman said fed spokesman said that all the borrowings were made yesterday fewer than half the banks was the second half the two week bank statement period that ended wednesday average borrowings these banks were mln dlrs the first week the period reuter 
acq	fundamental brokers buys part mki brokers fundamental brokers institutional associates leading inter dealer broker government securities said has agreed acquire certain assets mki government brokers inc for undisclosed terms acquisition documents have been signed and are being held escrow pending the receipt certain consents said conjunction with the sale assets mki has ceased brokering treasury bills notes and bonds fundamental said industry sources told reuters yesterday that fundamental was close acquiring the government securities brokerage division mki major broker corporate bonds fundamental said intends use the facilities formerly used mki provide new block brokering service the most active treasury issues separating the execution wholesale trades from the heavy volume smaller lots large scale transactions will facilitated the company said the new system expected substantially enhance the liquidity and effiency markets fundamental said the wholesale brokering service will begin around april reuter 
earn	newhall investment nip sets special payout newhall investment properties said declared special distribution cts per share payable june one unitholders record april reuter 
orange	fcoj movement gallons last week florida citrus processors association said frozen concentrated orange juice movement into trade channels the week ended april totalled gallons versus gallons the week ended march and gallons the corresponding year ago period there were gallons foreign imports last week versus gallons the week before domestic imports last week were retail movement was versus year ago bulk movement was against year earlier current season cumulative movement was gallons versus last year cumulative net pack for the season was versus year ago inventory was versus year ago reuter 
acq	national heritage nher buys management firm national heritage inc said acquired the assets chartham management corp salem ore terms were not disclosed the assets acquired will used form new divisional office serving the northwest the nursing home operator said the newly acquired salem operation has management responsibility for about beds nursing homes seven states southmark corp which owns pct national heritage recently agreed acquire the facilities national the manager nursing home properties owned southmark reuter 
acq	ohio mattress omt buys sealy michigan ohio mattress said that its ohio sealy mattress manufacturing unit completed its previously announced acquisition sealy mattress michigan inc addition the company said sealy inc which its owns pct redeemed the outstanding sealy stock held michigan sealy thus increasing the company stake sealy pct reuter 
crude	land llx pont get exploration tracts louisiana land and exploration said pont conoco inc subsidiary and oranje nassau energie have been offered four exploration blocks offshore the netherlands louisiana land said blocks and were offered the group which conoco has pct interest louisiana land pct and orange nassau pct while this group along with consortium headed pennzoil pzl were offered block the offers were the result applications submitted the ministry economic affairs for the netherlands sixth offshore licensing round louisiana land said the conoco group intends provide formal acceptance the blocks with plans start exploration this year the company also said the two blocks immediately offset other offshore blocks which hydrocarbons have been found commercial quantities reuter 
earn	patient pti considering debt restructuring patient technology inc said retained investment banking firm consider alternatives restructuring its long term debt including possible exchange offer for mln dlrs outstanding convertible debentures april one began consolidating sales marketing and manufacturing operations the consolidation expected complete june one and the company said now focusing restructuring its balance sheet the company said the first quarter will adversely affected the consolidation effort for the year ago first quarter the company reported profit dlrs mln dlrs the company further said that the second quarter will transitional period and that earnings growth will resume the second half for the year ended december patient reported net loss mln dlrs sales mln dlrs due write offs from discontinued operations and temporary backlog orders reuter 
acq	napco npco management cannot raise funding napco international inc said has suspended its plan sell its international business group that business top managers because the group has failed obtain satisfactory financing the company also said still intends pursue new corporate direction and exploring acquisition alternatives reuter 
earn	banks mid america inc boma qtr net shr loss cts loss cts net profit loss assets billion billion deposits billion billion loans billion billion note shr data after payment preferred dividends reuter 
acq	mcdonnell douglas buys computer firm mcdonnell douglas corp said acquired frampton computer services ltd british software company that also known isis terms the acquisition were not disclosed based bristol england isis employs workers and has annual revenues about five mln dlrs mcdonnell douglas said the company added that isis will operate part mcdonnell douglas information systems international reuter 
cotton	world market price for upland cotton usda the agriculture department announced the prevailing world market price adjusted quality and location for strict low middling inch upland cotton cts per effect through midnight april the adjusted world price average producing locations near lubbock texas and will further adjusted for other qualities and locations the price will used determining first handler cotton certificate payment rates the department said since the adjusted world price above the loan repayment rate cts per for the base quality first handler cotton certificates will issued during the period based data for the week ended april the adjusted world price for upland cotton determined follows cts per northern european price adjustments average spot mkt location slm inch cotton average location sum adjustments adjusted world price reuter 
money-supply	money supply falls two billion dlrs march week fed says 
money-supply	fed says discount window borrowings mln dlrs april week 
money-supply	bank net free reserves mln dlrs two weeks april 
earn	westinghouse electric optimistic for year westinghouse electric corp chairman douglas danforth said was encouraged first quarter results for fiscal and said the company was positioned capitalize the economy modest growth for the rest the year encouraged the continuing improvement earnings danworth said the first quarter met our expectations westinghouse recorded net income for the first quarter mln dlrs dlrs per share revenues billion dlrs danworth attributed the results increase the operating profit the energy and advanced technology industries and commerical segments reuter 
earn	bsd bancorp bsd qtr net shr seven cts five cts net loans mln mln deposits mln mln assets mln mln reuter 
earn	gateway communications inc gway qtr net shr cts six cts net revs reuter 
earn	baker communications inc bakr year loss shr loss cts loss cts net loss loss revs reuter 
earn	eastover corp easts qtr net shr cts cts net revs year shr dlrs dlrs net rev note net includes state tax credit for qtr and year net also includes gains from sale real estate for qtr and for year reuter 
money-supply	bank discount borrowings mln dlrs bank discount window borrowings less extended credits averaged mln dlrs day the week wednesday april the federal reserve said total daily borrowings the week fell mln dlrs mln dlrs with extended credits down mln dlrs mln dlrs the week was the second half the two week statement period that ended wednesday net borrowings averaged mln dlrs the first week the period commenting the two week statement period that ended april the fed said banks had average net free reserves mln dlrs fed spokesman told press conference that there were large one day net misses the fed estimates reserves the week ended wednesday the week borrowings money center banks accounted for pct and small banks for almost pct wednesday when net borrowings were billion dlrs and fed funds averaged high pct money center banks accounted for more than pct the borrowing borrowings the latest two weeks averaged mln dlrs day the highest since the statement period ended january float ranged from about mln dlrs thursday between one and billion dlrs monday and tuesday the spokesman said monday float included mln dlrs holdover float one fed branch due mechanical problems about mln dlrs tuesday float reflected non weather related transportation float one eastern reserve bank adjustments ranged from minus mln dlrs monday when cash letter errors two eastern reserve banks were corrected plus mln dlrs thursday when correction was made unposted funds single bank the first half the statement period ended wednesday banks held excess reserves the first four days the week but ran deficit wednesday the second week they ran deficit thursday friday and monday but held excess reserves the final two days reuter 
copper	noranda begins murdochville mine salvage noranda inc said began salvage operations its murdochville quebec mine where fire last week killed one miner and caused mln dlrs damage noranda said the cause and full extent the damage still unknown but the fire destroyed feet conveyor belt the company said extreme heat from the fire caused severe rock degradation along several ramps and drifts the mine production the mine has been suspended until investigations are complete the copper mine and smelter produced tons copper anodes the smelter continues operate with available concentrate from stockpiled supplies noranda said reuter 
money-supply	money supply falls two billion dlrs money supply fell two billion dlrs seasonally adjusted billion dlrs the march week the federal reserve said the previous week level was revised billion dlrs from billion while the four week moving average rose billion dlrs from billion economists polled reuters said that would anywhere from down two billion dlrs billion reuter 
acq	bevis bevi receives takeover inquiries bevis industries inc which has been seeking acquired said recently received inquiries concerning the purchase the company the company did not identify the parties that made the inquiries but said they had been referred its investment bankers tucker anthony and day inc for study march the company said engaged tucker anthony seek purchasers its operating units greenville tube corp and pneumatics inc reuter 
acq	jacor jcor buy two denver radio stations jacor communications inc said agreed buy two denver radio stations from belo corp blc for mln dlrs cash and notes jacor said the two stations are koa and koaq the acquisitions must approved the federal communications commission jacor added reuter 
money-supply	assets money funds rose week assets money market mutual funds increased billion dlrs the week ended yesterday billion dlrs the investment company institute said assets institutional funds were mln dlrs billion dlrs broker dealer funds rose mln dlrs billion dlrs and general purpose funds gained mln dlrs billion dlrs reuter 
acq	polycast ptcc reduces spartech sptn stake polycast technology corp told the securities and exchange commission sold off its spartech corp common shares reducing its stake spartech shares pct the total outstanding polycast said made the sales april the over the counter market gave reason for the sales reuter 
acq	hospital corp says received dlr share offer from investor group 
earn	beverly enterprises bev sets regular dividend qtly div five cts five cts prior pay july record june reuter 
money-fx	treasury baker says floating exchange rate system needs greater stability 
crude	crude oil netbacks sharply europe crude oil netback values complex refineries rose sharply europe and firmed the last friday from the previous week but fell sharply singapore according calculations reuters pipeline the firmer tone refining margins europe and the relected higher prices for petroleum products particularly gasoline and support from crude oil prices netback values for crude oil refined northern europe rose substantially following strong gains gasoline prices there brent valued dlrs cts barrel three pct from the previous week the gulf sweet crudes rose value cts dlrs for west texas intermediate about pct sour grades the gulf showed increase cts barrel for alaska north slope pct but netbacks for crude oil refined singapore fell sharply down cts much cts barrel ample distillate supplies weighed petroleum product prices attaka singapore valued dlrs decline cts barrel pct from the previous week for refineries the mediterranean netback values were mostly lower with declines seven cts the value kuwait crude fell cts dlrs while iranian light fell cts dlrs the west coast netback values for ans cif also jumped sharply cts barrel pct dlrs higher gasoline prices reuter 
money-fx	treasury baker says system needs stability treasury secretary james baker said the floating exchange rate system has not been effective had been hoped promoting stability and preventing imbalances from emerging the global economy remarks before the afternoon session the international monetary fund interim committee baker said was not suggesting that the system should abandoned but suggest said that need something give more stability and keep headed the right direction when the wind shifts said that indicators can serve kind compass but added that structural indicators can help focus attention some policies baker however said the imf needs move beyond macroeconomic indicators and find structural indicators that can help focus attention some the policies specific relevance the imbalances face today the treasury secretary said that indicators should given more prominent role the annual economic reviews article consultations that the fund performs baker also told the policy making group that was time for the imf adopt earlier recommendations making imf surveillance more relevant national policymakers and the public particular urge increased publicity for imf appraisals developed article consultations the use follow reports country actions implement imf recommendations and greater use special consultation procedures said baker emphasized that indicators were device for moving beyond rhetoric action said they provide more structure the system and induce more discipline and peer pressure into the process policy coordination said the fund procedures for surveillance need reviewed and updated reflect the use indicators this should matter priority for the executive board said baker also urged the fund develop alternative medium term economic scenarios for countries that can help focus even more clearly the most important imbalances identifying options for addressing them and analyzing the implications these options said also that further work should done finding paths that lead toward possible medium term objectives are take effective remedial action when there are significant deviations from intended course then must have more definitive ways indentifying the right course for key variables said reuter 
earn	trustcorp inc ttco qtr net shr cts cts net assets billion four billion note shr and net data are before accounting change announced which added cts share year ago qtr results reuter 
earn	napa valley bancorp nvbc qtr net shr cts cts net reuter 
earn	international power machines pwr qtr loss shr loss cts loss cts net loss loss revs year shr loss cts loss dlrs net loss loss revs mln mln note net includes adjustment inventory valuations and cost reduction expenses full name international power machines corp reuter 
acq	great american mgmt gami has atcor atco stake great american management and investment inc told the securities and exchange commission acquired pct stake atcor inc great american said bought the stake for investment added that has also considered but not yet decided buy additional atcor shares either the open market private transactions through tender offer otherwise great american said paid about mln dlrs for its atcor shares said its most recent purchases included shares bought march april reuter 
earn	rai research corp rac qtr feb net oper shr one cts oper net revs nine mths oper shr cts cts oper net revs note oper excludes gain from discontinued operations for year ago qtr and loss from discontinued operations for year ago nine mths reuter 
earn	moore mcl sees substantial profit gain moore corp ltd expects profits from continuing operations will exceed results and recover levels when the company earned mln dlrs dlrs share president keith goodrich said have substantial increase earnings from continuing operations told reporters after the annual meeting said expected profits would recover last year lost ground and reach results profits from continuing operations slumped mln dlrs dlrs share the total excluded losses mln dlrs discontinued operations goodrich said moore still actively looking for acquisitions related its core areas business forms manufacturing handling could large acquisition said when asked the company could raise much one billion dlrs for this purpose chairman judson sinclair answering shareholder question told the annual meeting that special resolution passed shareholders create new class preferred shares would allow moore move quickly decided pursue acquisition were make major acquisition means can move with certain expediency sinclair said asked the resolution was designed give moore protection from possible hostile takeover sinclair said only know threat the corporation this time reuter 
acq	firm has pct decision capital fund dcf gabelli group inc said and two subsidiaries held total decision capital fund inc shares pct the total outstanding said the shares were held behalf investment clients and said had intention seeking control the fund gabelli said its most recent purchases decision capital fund stock included shares bought april the philadelphia stock exchange gabelli investment firm headquartered new york city its gabelli and subsidiary brokerage firm reuter 
acq	partnership buys ipco ihs stake pct new york investment partnership told the securities and exchange commission bought pct stake ipco corp common stock the partnership said acquired ipco shares paying mln dlrs because believed the securities attractive investment opportunity said planned regularly review its investment and may the future recommend business strategies extraordinary corporate transaction such merger reorganization liquidation asset sale the partnership controlled marcus schloss and inc new york brokerage firm and prime medical products inc greenwood medical supplies firm reuter 
earn	delmed inc dmd year loss oper shr loss cts loss dlrs oper net loss loss mln revs mln mln avg shrs mln mln note oper excludes loss provision for discontinued operations mln and loss from conversion debt gain oper excludes loss from pension plan liquidation and loss from discontinued operations reuter 
acq	cadillac fairview says has received some acquisition proposals 
acq	cadillac fairview says received takeover bids cadillac fairview corp ltd said received proposals acquire the company following its announcement last august that had retained investment dealers solicit offers for all outstanding common shares cadillac fairview said the offers are subject clarification and negotiation and offered further details reuter 
acq	winterhalter wntlc holders okay takeover winterhalter inc said its shareholders approved the dlr acquisition winterhalter interface systems inc intf the acquisition would for cts per winterhalter share reuter 
earn	american eagle petroleums ltd year loss shr loss cts profit cts net loss profit revs mln mln reuter 
trade	chilean trade surplus narrows slightly february chile trade surplus narrowed mln dlrs february from mln dlrs the same month last year but was above the mln dlr surplus recorded january the central bank said exports february totalled mln dlrs pct above the january figure imports fell pct from the previous month mln dlrs the figures for the same month last year were mln and mln dlrs respectively the accumulated trade surplus over the first two months stands mln dlrs against mln dlrs the previous year reuter 
earn	valex petroleum inc valp year dec shr loss six cts loss cts net loss loss mln revs mln mln note net includes mln dlrs writedowns and tax benefit reuter 
money-supply	trading bank deposit growth eases slightly new zealand trading bank seasonally adjusted deposit growth rose pct february compared with pct rise january the reserve bank said year year total deposits rose pct compared with pct rise january and pct rise february year ago period the bank said its weekly statistical release total deposits rose billion dlrs february compared with billion january and billion february reuter 
interest	average yen rates fall latest week average interest rates yen certificates deposit fell pct the week ended april from pct the previous week the bank japan said new rates previous brackets average rates all banks pct money market certificate mmc ceiling rates for week starting from april pct average rates city trust and long term banks less than days pct days pct average rates city trust and long term banks days pct days pct days unquoted days pct over days pct unqtd average yen bankers acceptance rates city trust and long term banks less than days pct days pct days unquoted unqtd reuter 
interest	japan has plans cut discount rate bank japan sources said the bank has plans cut its discount rate they told reporters that there was pressure japan during the group seven meeting here yesterday lower its discount rate they added that they themselves not feel any need for cut all chancellor the exchequer nigel lawson told reporters earlier today that some countries those with strong currencies might have cut interest rates the bank japan sources also said that was too soon call the pact failure the central bank sources were commenting the dollar renewed tumble new york and tokyo which was sparked remarks treasury secretary james baker that the dollar fall had been orderly they said the market must have misinterpreted baker comments because was referring the dollar fall since the plaza agreement september over long time span not the currency recent movements they added that the foreign exchange markest seem seize anything use excuse drive the dollar one way the other the bank japan sources said the putting more weight the dollar yen rate terms judging market stability than other currencies throughout the meeting japan pointed the dangers that would arise from further dollar fall because would reduce the flow japanese capital the hurting the and world economies they said february and march this year japanese investors reduced their purchases treasury bonds the sources said each country the britain canada france italy japan the and west germany has different view about currency stability the bank japan sources said this because the overall foreign exchange market triangle dollar yen european currencies yen and dollar european currencies the time the louvre agreement european countries did not want the yen weaken against their currencies they did not object the yen strengthening they said reuter 
ship	australian unions and nsw government reach deal union and new south wales government officials have reached compromise dispute over workers compensation averting increased industrial action the state union sources said but some unions including those building and mining workers said they were dissatisfied with the deal and would continue their strikes for few more days state officials said the government had agreed revise its proposals cut compensation and would allow slightly higher cash benefits for injured workers under the original proposal which sparked strikes and other industrial action the state april workers compensation would have been cut one third full details the compromise package are not yet known the labour council affiliated the australian council trade unions actu had threatened paralyse new south wales unless the government modified its pending legislation the issue state officials said the only sectors affected the past three days were some government building projects railway freight movement and cargo handling sydney ports reuter 
crude	ecuador crude oil output resume next month ecuador due resume limited crude oil output may when new pipeline neighbouring colombia should finished energy ministry spokesman said oil output was halted march earthquake which damaged the main pipeline linking jungle oilfields lago agrio the ecuadorean port balao the pacific about the new link capable carrying some barrels per day bpd has been built said ecuador pumped bpd before the earthquake the new link will connect lago agrio puerto colon colombia the starting point columbia pipeline the pacific ocean port temuco the government estimates will take about four more months repair the lago agrio balao pipeline and return output normal levels the spokesman said reuter 
earn	mobil australia reports mln dlr loss wholly owned mobil corp mob unit mobil oil australia ltd reported mln dlr net loss turnaround from its mln profit the loss reflected combination strikes plus scheduled and unscheduled refinery shutdowns for maintenance and inventory losses caused government controls both crude and product prices mobil said statement however equity accounting associates profits reduced the loss mln dlrs against mln profit mobil said was confident would see return profit built further its company restructuring reuter 
trade	japan warns may retaliate trade dispute japan warned the united states may take retaliatory measures the united states imposes its planned trade sanctions april senior government official said shinji fukukawa vice minister the international trade and industry ministry said statement japan would consider measures under the general agreement tariffs and trade and other actions the united states imposes pct tariffs some japanese exports planned next week however fukukawa said japan was ready continue trade talks with the united states despite its failure convince america call off the threatened tariffs during two days emergency talks which ended washington yesterday last month president reagan announced the sanctions retaliation for what called japan failure honour july agreement stop dumping computer microchips markets outside the united states and open its home market american goods fukukawa said the united states had regrettably not listened japan explanation its efforts live the pact and said washington had not given any detailed explanation why planned impose the tariffs reuter 
acq	kuwait increases stake sime darby the kuwait investment office kio has increased its stake sime darby bhd mln shares representing pct sime darby paid capital from mln shares malayan banking bhd mbkm said since last november kio has been aggressively the open market buying shares sime darby major corporation with interests insurance property development plantations and manufacturing the shares will registered the name malayan banking subsidiary mayban nominees sdn bhd with kio the beneficial owner reuter 
sugar	smuggling blamed for closure haitian sugar firm sugar mill which was this nation second largest employer closed its doors yesterday saying had been run out business sugar smuggled from miami and the neighbouring dominican republic the closure the haitian american sugar company hasco will idle employees and affect many small sugar cane planters regions around the capital the company said because unprecedented and ever growing smuggling hasco regrets cannot continue accept delivery sugar cane after april the mill warned planters earlier this week since president jean claude duvalier fled haiti fourteen months ago widescale smuggling basic goods such cooking oil flour rice sugar and canned milk has lowered consumer prices but bankrupted several local manufacturers throwing hundreds thousands haitians out work the hasco compound where grim faced workers lined receive their last pay spokesman georges rigaud showed warehouse stocked with estimated unsold pound bags sugar are closing because our huge stock unsold sugar have money left continue operations rigaud said said the company owed mln dlrs and had borrowed additional mln dlrs order pay off workers rigaud blamed the mill problems order duvalier two years ago forbidding hasco from refining sugar said the government then began importing refined sugar world market prices and reselling huge profit and the provisional military civilian government that replaced duvalier last year continued the policy but now with all the smuggling even the state can compete with smuggled dominican refined sugar rigaud said hasco workers earned dlrs daily considerably above the usual minimum wage three dlrs generally estimated that every employed haitian supports least six people rigaud said hasco closing minimum would affect people laid off workers were bitter about the closure dead and the government that causing die declared lucien felix who has five dependents reuter 
trade	taiwan announces new round import tariff cuts taiwan announced plans for another round import tariff cuts foreign goods shortly before trade talks with washington which officials described move help balance trade with the united states wang der hwa deputy director the finance ministry customs administration department told reporters the list products included items asked washington the move part our government efforts encourage imports from our trading partners particularly from the united states said said the ministry sent proposal today the cabinet that the tariffs such products cosmetics bicycles apples radios garments soybeans and television sets cut between five and pct the cabinet was expected give its approval next thursday and the new tariff cuts would implemented possibly starting april added taiwan introduced sweeping tariff cut some foreign products last january aimed helping reduce its growing trade surplus with the united states the island largest trading partner washington however was not satisfied with the cuts and pressed for more reductions way cutting its huge trade deficit with taipei washington deficit with taipei rose record billion dlrs last year from billion widened billion the first quarter from billion year earlier taiwan official figures show today announcement came before departure later today member taiwan delegation for washington for series trade talks with officials the delegation leader vincent siew told reporters last night was leaving with heavy heart meaning that would face tough talks washington because rising protectionist sentiments the congress taiwan trade surplus with washington was the third largest after japan and canada siew said the talks starting april would cover calls for taiwan open its market american products purchases major machinery and power plant equipment import tariff cuts and protection intellectual property afraid this time have give more than take from our talks with the said without elaborating reuter 
trade	british minister says warned tokyo sanctions british minister said had given the japanese government clear warning sanctions against japanese companies tokyo did not allow more access its internal markets and was clearly understood corporate affairs minister michael howard said his return from visit japan thought the japanese were beginning appreciate the need fair and open about access their own markets airport news conference howard denied opposition charges that his trip had been failure because had returned empty handed did what set out was sent deliver clear message the japanese government and delivered very clearly and has been clearly understood howard said that under the financial services act the govenment had considerable flexibility taking sanctions against japanese companies and finance houses operating britain not simply question withdrawing refusing operating licences can ban firms from certain countries from carrying out certain kinds business while allowing them carry out other kinds hope don have use these powers but made clear japan that our timetable isn met shall use them said would unfortunate britain and japan became involved tit for tat exchange adding that japan gained more than anyone else from open trading relationship think they are beginning appreciate that this relationship continue very important for them fair and open about access their own markets the question the british firm cable and wireless plc cawl which trying win significant share telecommunications contracts japan howard said had told the japanese this was being widely regarded test case said there were signs movement the case cable and wireless was due take part talks japan next tuesday said earlier this week british prime minister margaret thatcher said britain could not alone sanctions against japan but would have coordinate action with its european community partners community sources said after meeting trade officials yesterday that the group might impose steep new tariffs range japanese goods prevent diversion from united states markets washington imposes trade sanctions against tokyo has threatened reuter 
interest	yield rises day sama deposits the yield day bankers security deposit accounts issued this week the saudi arabian monetary agency sama rose more than point pct from week ago bankers said sama decreased the offer price the mln riyal issue from last saturday like dated interbank deposits were quoted today pct point higher than last saturday sama offers total billion riyals and day paper banks the kingdom each week reuter 
coffee	uganda pulls out coffee market trade sources uganda coffee marketing board cmb has stopped offering coffee the international market because unhappy with current prices coffee trade sources said the board suspended offerings last week but because its urgent need for cash was not immediately clear how long could sustain the sources added hundreds ugandan coffee farmers and processors have been waiting several months for payment from the cmb which has had trouble finding enough railway wagons move the coffee the kenyan port mombasa foreign banks have contributed the cash crisis holding remittance uganda hard currency earnings from coffee exports the government newspaper new vision said the banks are holding seven mln dlrs coffee money and president yoweri museveni thinking imposing penalty for such delays added banking sources said third factor the crisis was that commercial banks have lent the board only billion shillings the equivalent mln dlrs for crop finance the current coffee year while the government had asked for billion the cmb has bags coffee about pct annual production stockpiled kampala awaiting shipment the crop accounts for over pct uganda export earnings and the recent slide prices four year lows likely more than offset expected increase production cmb officials have forecast that because the government has restored law and order important growing areas uganda will produce over three mln bags coffee the year ending september about pct more than reuter 
cocoa	german cocoa grind pct first quarter the west german cocoa grind rose pct tonnes the first quarter from tonnes the same quarter the bonn based confectionery industry association said statement reuter taw 
jobs	spanish unemployment falls slightly march spain registered unemployment fell people mln pct the workforce march labour ministry figures show registered unemployment february was mln people pct the workforce the figures were nonetheless higher than those for march mln people and pct the workforce reuter 
cpi	hungary raises prices effort curb deficit hungary has announced sharp price increases for range food and consumer products part its efforts curb soaring budget deficit the official mti news agency said the government decided consumer price subsidies had cut reduce state spending from today the price meat will rise average pct and that beer and spirits pct mti said mti said consumer goods will also become more expensive with the price refrigerators rising some five pct also announced number measures ease hardship including higher pensions and family allowances statistics indicate the budget deficit tripled billion forints central banker janos fekete has said the finance ministry trying cut the shortfall between and billion from planned billion major tax reform including the introduction western style valued added tax planned for january effort cure problems state spending but diplomats said the latest announcement shows the authorities were forced act quickly keep this year deficit under control the measures are also aimed cooling overheated economy and could help dampen hungarians appetite for imported western goods which consume increasingly expensive hard currency the diplomats said the diplomats also said however that they did not expect the kind social unrest that followed sharp price rises other east bloc states notably poland reuter 
cotton	china wants buy tonnes pakistani cotton china negotiating with pakistan buy tonnes cotton this year after importing the same amount last year under barter agreement chinese consulate sources said chinese ambassador tian ding told meeting pakistani industrialists thursday that china intended increase imports from pakistan reduce trade imbalance pakistani officials estimate the country cotton output from the current crop record mln bales pounds each last year output totalled mln bales and domestic consumption was just below three mln bales they said reuter 
copper	electrolytic refining lowers copper price the electrolytic refining and smelting australia pty ltd said lowered its works port kembla refinery copper price dlrs dlrs tonne effective today reuter 
earn	texaco sees business little hit bankruptcy move texaco inc said its decision file for protection under chapter the bankruptcy code will not affect the majority its businesses said its subsidiaries which account for pct its billion dlrs revenues and pct its net property plant and equipment were free the action only parent holding company texaco inc and operating subsidiaries texaco capital inc and texaco capital are affected said but the company said was likely suspend its cents per share quarterly common stock dividend and halt repayments debts some billion dlrs texaco said filed for chaper because suppliers were demanding cash payments and banks were withholding loans result legal dispute with pennzoil pzl texaco fighting texas law requiring post bond more than billion dlrs before can appeal judgment that ruled illegally interfered with pennzoil acquisition getty petroleum corp gty the bond almost matches the damages awarded against texaco should texaco fail place the bond pennzoil could begin attach its assets secure the judgment last monday the supreme court overturned decision cut texaco bond one billion dlrs and sent the issue back the texas courts analysts said the bankruptcy filing effectively froze all texaco obligations while continued appeal the merits the pennzoil lawsuit attempts last week win compromise both the bond issue and the larger dispute failed james kinnear texaco president and chief executive officer told reporters kinnear said pennzoil disclosure court papers friday that wanted extend the bond issue hearing until the end april pushed texaco further towards chapter pennzoil had asked texaco post billion dlr cash bond and reduce its dividend not more than pct earnings pennzoil also wanted assurances that texaco would not sell any assets kinnear said texaco offered put one billion dlrs letter credit and agreed not let the value its assets fall under billion dlrs added joseph jamail houston attorney for pennzoil said the company had made its latest settlement offer texaco saturday and was taken surprise when texaco filed for bankruptcy declined reveal the amount the proposal citing confidentiality agreement between the two companies texaco told they would get back but instead they chose bankruptcy court jamail said attorneys for pennzoil said they believed the company would prevail court appeals adding that texaco assets were ample ultimately pay the pennzoil judgment full reuter 
coffee	paton reports green coffee roastings higher roastings green coffee the week ended april were about kilo bags including that used for soluble production compared with bags the corresponding week last year and about bags the week ended march george gordon paton and inc reported said cumulative roastings for calendar now total bags compared with bags this time last year reuter 
acq	western mining sells acm stake western mining corp holdings ltd wmng wmc said sold its entire holding mln shares the gold mining company australian consolidated minerals ltd acm wmc gave details but stockbrokers said the sale was made eight dlrs share friday number european and australian investors through wmc usual brokers the company purchased the pct parcel early march from amax inc amx dlrs share ahead one for three bonus issue when amax sold its entire pct stake acm number local companies reuter 
earn	anz bank sets one for two bonus issue australia and new zealand banking group ltd anza said will make one for two bonus issue from its asset revaluation reserve shareholders registered june the proposed bonus and increase authorised capital one billion one dlr par shares from mln will put shareholders for approval extraordinary general meeting may the anz said statement the issue will absorb about mln dlrs the mln standing the asset revaluation reserve said the bank said that lowering the dividend rate expects maintain the value dividend payout the enlarged capital about the level its last full year ended september the group paid cents share and mln dlrs all for that year shareholders will also asked approve changes the bank articles association allow offer shares lieu the interim dividend discount five pct the market price the group the latest announce tax free bonus issue ahead dividend imputation effective july reuter 
interest	uae central bank yields rise yields certificates deposit offered the united arab emirates central bank were higher than last monday offering the bank said the one month rose point pct while the two three and six month maturities rose point each and pct respectively reuter 
iron-steel	china sulphur iron mine starts production china largest sulphur iron mine has started trial production yunfu the southern province guangdong the china daily said said the mine has annual output capacity three mln tonnes sulphur iron ore which can used without processing because its high quality reuter 
copper	china chile build copper tube plant china china state owned beijing non ferrous metals industrial corp and wrought copper ltd chile signed contract jointly build copper tube plant the outskirts peking the china daily said the beijing santiago copper tube involves investment mln dlrs and will completion have production capacity tonnes copper tubes year said said chile will supply copper preferential rates the venture whose equipment comes from wednesbury tube the agreement calls for joint sino chilean management the venture for years the paper said said the venture the first economic cooperation project between china and chile but gave more details china major copper importer customs figures show imported tonnes copper and alloy calendar down from tonnes reuter 
trade	singapore external trade gains pct quarter singapore external trade grew pct first quarter against pct decline the same period last year and two pct growth the previous quarter the trade development board said said exports over the period rose pct billion dlrs and imports pct billion for trade deficit billion against billion deficit the same period and billion deficit previously the growth was attributed the strength non oil trade especially computers and computer parts electronic components and garments said reuter 
trade	malaysia manufacturing exports rise pct malaysia manufacturing exports rose pct billion ringgit chairman the export promotion council ahmad sarji abdul hamind said the improved export performance was led electrical and electronic products textiles footwear clothing processed food timber chemical and rubber products told news conference however total gross exports for the year declined pct billion ringgit from billion due fall major commodity exports and weak prices said reuter 
acq	offer for dome may short circuit its debt talks billion dlr offer for dome petroleum ltd dmp transcanada pipelines ltd trp may short circuit dome restructuring plan and open the door for more takeover bids oil analysts said dome trying get approval for plan refinance debt more than billion dlrs july when interim debt plan that allowed the canadian oil and gas firm defer substantial payments creditors will expire analysts said transcanada bid signals dome debtholders that alternative exists dome debt plan dome announced its plan major creditors well public noteholders march after several months delicate negotiations transcanada proposal amounts quasi debt restructuring oil analyst doug gowland brown baldwin nisker ltd said from toronto calgary based dome restructuring plan would allow creditors convert debt common shares under formula yet negotiated payments remaining debt would linked cash flow generated assets pledged against the debt the weakness the whole debt refinancing proposal that even with approval creditors there assurance that dome will fact able repay all its debt obligations said wilf gobert oil analyst for peters and ltd calgary transcanada announcement came surprise since dome was waiting for responses from creditors its proposed refinancing packages gobert said the transcanada proposal could open the bidding for dome since other potential buyers were probably waiting for lenders agree restructuring added would think that the debtholders would want entertain any and all offers for dome gobert said dome spokesman david annesley said new york that transcanada announcement could seen attempt fix the bidding price for dome and effort preclude other possible buyers from making offer drawing attention our discussions means that others may little reluctant come forward said dome does not consider transcanada proposal formal offer because the pipeline utility announcement breached confidential agreement between the two companies said dome responded the statement suspending discussions with transcanada order pursue talks with other unidentified parties however dome said its management and financial advisers would evaluate all proposals including transcanada gowland said transcanada offer probably fair price for the company mln acres oil and gas land holdings however said not enough financial details are known about dome debt restructuring compare the value transcanada proposed offer reuter 
money-fx	money market deficit forecast mln stg the bank england said forecast shortage around mln stg the money market today among the main factors affecting liquidity bills maturing official hands and the take treasury bills will drain some billion stg partly offsetting these outflows fall note circulation will add some mln stg exchequer transactions around mln and bankers balances above target about mln reuter 
cpi	bangladesh cost living index falls january bangladesh cost living index fell pct january after pct decline december base the bureau statistics said the cost living index fell pct january the year january inflation ran pct after pct rate month earlier and pct year earlier reuter 
acq	rothmans denies share sale speculation rothmans holdings tobacco ltd said sttement there was foundation press speculation that would sell its stake rothmans international plc rot philip morris inc that would buy morris stake the report rothmans international said rht which controlled rupert foundation owned mln ordinary and mln ordinary shares pct and pct respectively morris owns mln ordinary shares pct rothmans shares which firmed the speculation close from friday eased gmt reuter 
trade	trade issues straining patience with japan member states the european community are starting run out patience with japan which they believe has repeatedly promised major initiatives open its market imports but often made only minor moves diplomatic sources here said several recent actions countries bear witness new disillusionment with the willingness least the ability the japanese government reduce its massive trade surplus with the however they said all out trade war may far off states know they would suffer almost much japan senior diplomats gave generally favourable reaction executive commission proposal under which the could raise tariffs range japanese products the carries out threat make similar move april the tariffs which would involve renouncing obligations entered into with the world trade body gatt would designed stop diversion exports the market from that the the diplomats were meeting tokyo announced that the trade deficit with japan reached record billion dlrs march from billion february japanese exports the totalled billion dlrs pct from while exports japan fell one pct billion dlrs paris trade minister michel noir said france has decided give japan taste its own medicine burgeoning imports microwave ovens and frozen coquilles jacques will restricted strict application french quality standards something states say often happens their own exports entering japan britain has threatened withdraw the licences japanese banks and insurance companies operate the city london because the british cable and wireless company lost out competition for japanese telecommucations contract however british officials london have said that the government may have gone too far implying that would take immediate drastic action unless the contract was reopened contrast west germany with the most successful economy has never threatened tokyo with sanctions preferring rely firm diplomacy and encouragement its own industries surmount obstacles export japan the commission itself has switched its tactics recent years substituting general calls for action japan open its market with specific demands for moves key areas present for instance pressuring japan end allegedly discriminatory taxation imported wines and spirits ensure companies have chance win contracts for the building new international airport and simplify certification and safety checks imported cars officials say these tactics yield some benefits but often the japanese announce modifications their non tariff barriers which open the door imports only token amount they stress however that any action must taken the whole stop beggar neighbour action one the problems britain could face were withdraw licences for japanese banks would that the bankers would welcomed with open arms frankfurt amsterdam they point out reuter 
earn	morgan crucible says prospects are encouraging morgan crucible plc mgcr said the prospects for were encouraging with orders and sales significantly last year all divisions said there were good opportunities for growth both existing and recently acquired businesses well for growth acquisition related areas earlier announced mln stg rise pre tax profit mln stg for the year december turnover rose mln from mln most its companies performed well despite slowdown the and australian economies the first half currency fluctuations reduced pretax profit around one mln stg noted morgan said although profits the electronics sector improved mln stg from stg previously results were nonetheless disappointing sales were lower than expected due mainly delayed defence orders and cancellations however said had taken the necessary remedial action obtained new business and was now proceeding with the delivery major delayed orders morgan shares firmed two pence gmt from friday close reuter 
earn	morgan crucible pretax profit rises mln stg year december shr div making turnover mln stg mln pretax profit mln mln tax mln mln operating profit mln mln investment income mln mln net finance charges mln mln company full name morgan crucible plc mgcr minorities and provisions for preference dividends mln mln extraordinary debit mln mln credit operating profit includes carbon mln mln technical ceramics mln mln thermal ceramics mln mln speciality chemicals mln mln electronics mln mln reuter 
ipi	swedish industrial production rises sharply swedish industrial production rose pct february after pct fall january showing pct rise over february and reaching its highest level ever the central bureau statistics said the rise reflected recovery almost all sectors after exceptionally cold spell january the bureau said adding that the highest rises were seen the forest chemical and metal industries reuter 
money-fx	kenya devalues shilling pct against sdr kenya devalued the shilling pct against the special drawing right sdr response the decline the dollar last last week bankers said the central bank kenya set the shilling the sdr compared with the rate force since the last devaluation march the kenyan shilling has lost pct its value against the sdr this year series devaluations designed keep the value the dollar above shillings reuter 
acq	williams details acceptances norcros offer williams holdings plc said that had received acceptances for its offer for norcros plc ncro from the holders norcros ordinary shares pct and preference shares pct before the mln stg contested bid was launched last month williams held ordinary shares pct and since then had acquired options buy further mln pct the offer has been extended april norcros shares eased the announcement while williams fell from reuter 
meal-feed	dutch feed compounder starts case against levy major animal feed producer cehave veghel chv has begun legal proceedings against the application the european community grain responsibility levy with the full backing the dutch animal grain and feed trade association het comite association chief executive peter pex told reuters oral proceedings were held the hague friday and the court said would give its verdict within six weeks however that the normal wording and expect the hague court refer questions the interpretation and application the levy the european court justice luxembourg pex added het comite claims the way the levy applied does not take account currency cross rates exchange and can mean compounder one country being asked pay higher levy its own national currency than received down the chain from the original producer the grain would like the business administration court the hague ask the luxembourg court justice not only whether the dutch grain commodity board the levy collection agency has interpreted the levy regulations correctly but also whether the regulations themselves may contravene european law pex said only with great regret that have taken this route but have had political help and therefore have option even though could take years pex added het comite asked chv act test case against the grain levy because the bill the company received from the commodity board included grain from wide variety origins and was therefore considered the best general basis for legal challenge the levy pex noted het comite actions will run tandem with questions the levy already posed the luxembourg court case brought the association european animal feed manufacturers fefac reuter 
cocoa	west german cocoa grindings within expectations west german first quarter cocoa grindings which rose pct from the same quarter were within expectations trade sources said they described the results announced saturday normal and unspectacular considering that the grind the fourth quarter was rather high and some was carried over into the first quarter grindings rose tonnes from the first quarter spokesman for the confectionery industry association said that west german grindings are expected stay relatively high comparison other west european countries reuter 
gold	gobain unit issues ecu bond with gold warrants gobain netherlands guaranteed cie gobain issuing mln ecu bond with gold warrants attached due may carrying pct coupon and priced par lead manager salomon brothers international ltd said fees comprise pct selling concession with pct for management and underwriting combined listing luxembourg each ecu bond carries one gold warrant exercisable from may until may entitling the holder purchase one ounce exercise price dlrs reuter 
interest	commonwealth bank cuts australia prime pct the commonwealth bank australia said will lower its prime lending rate pct from effective april the bank new rate will the lowest australia current prime rates they now range from pct after recent series reductions since late march following easier trend short term money market rates two the three other major trading banks now have prime rates pct and one the commonwealth move reverses increase from pct early february reuter 
acq	hepworth sells unit globe machine hepworth ceramic holdings plc hepc said had agreed sell its western plastics corp unit globe machine manufacturing for mln dlrs cash western which makes polystyrene foam and container products has net assets mln dlrs and reported pre tax profit mln the proceeds the sale would used reduce borrowings and develop activities the hepworth shares eased the announcement reuter 
acq	bond corp acquire pct merlin pete bond corp holdings ltd bona said has agreed acquire pct stake merlin international petroleum corp from crowley maritime corp for mln dlrs this total mln dlrs due exchange contracts april and mln july subject any regulatory approvals being obtained bond said statement the balance mln dlrs will paid required merlin for its exploration and production commitments said bond said merlin has pct working interest plus pct reversionary interest the papua new guinea permit ppl the site the iagifu oil discovery merlin also has pct stake the adjacent papuan basin permit ppl which contains the juha gas and condensate discovery addition papua new guinea merlin has petroleum exploration and production interests the bond added reuter 
acq	blue arrow buy richards companies blue arrow plc said had agreed terms acquire group companies collectively known the richards companies which specialise executive recruitment and management consultancy personnel matters the total consideration will mln dlrs which pct will payable cash and pct the issue mln new ordinary shares blue arrow the richard companies made pre tax profit mln dlrs the year end turnover mln dlrs with net tangible assets the end mln dlrs blue arrow shares were trading lower this morning reuter 
acq	borg warner agrees buyout merrill lynch firm borg warner bor corp facing unwanted offer from gaf corp gaf agreed billion dlr buyout offer from company formed merrill lynch capital partners inc borg warner and merrill said yesterday they entered definitive merger agreement under which subsidiary the new company holdings corp will begin dlr per share cash tender offer today for mln shares pct borg warner common stock the offer will followed merger which each remaining share will converted into dlrs cash and dlrs principal amount holdings junior subordinated discount debentures result the merger borg warner will become wholly owned subsidiary holdings borg warner spokeswoman said members management not plan participate the transaction but they will retain their positions with the company spokesman for gaf was unavailable for comment gaf holds pct borg warner shares gaf had said would offer dlrs per share borg warner spokeswoman said the company still plans sell its financial services unit which includes wells fargo security guards and the chilton corp credit rating service borg warner has been the focus takeover speculation for about year corporate raider irwin jacobs last year proposed takeover the firm and until recently held pct the stock following the gaf offer analysts had calculated breakup values for the company the low dlrs per share range and speculated offer would have sweetened its statement borg warner said its board endorsed the merrill offer and recommended that shareholders tender their shares the board received opinions the offer from its advisors first boston corp and goldman sachs and james burke president merrill lynch capital partners said are very pleased have entered into this transaction with borg warner are looking forward working with the employees borg warner and borg warner maintaining its strong presence the chicago community merrill lynch will the dealer manager for the offer which expires midnight edt may gmt may subject conditions including the completion necessary financing arrangements the offer also subject minimum mln shares pct the outstanding shares being tendered merrill lynch and certain affiliates have committed provide mln dlrs holdings equity and mln subordinated financing and forward underwriting commitments merrill lynch said that following discussions with commercial banks confident can obtain the rest the financing required complete the transaction the junior subordinated discount debentures issued the merger will carry pct coupon and will begin paying cash interest after five years the debentures will redeemable the company option for the first six years pct during the seventh year pct and after that pct the principal amount the junior subordinated discount debentures have maturity years and are entitled sinking fund commencing the year designed retire pct the issue before maturity borg warner will also redeem all its outstanding dlrs cumulative preferred stock series for dlrs per share holders who wish participate the offer must first convert their preferred stock into borg warner common stock the board borg warner has also taken steps redeem its poison pill share purchase rights for five cents per right effective immediately reuter 
wpi	march producer prices rise pct the price index for sales manufactured goods the rose provisional unadjusted pct march after identical rise february department trade and industry figures show the index for materials and fuel purchased manufacturing industry fell provisional and unadjusted pct after pct fall february the department said the year year rise producer prices march was provisional pct compared with provisional pct increase the year end february the index for output prices non seasonally adjusted was put provisional march after february the index for input prices also not seasonally adjusted was set march after february the pct fall input prices between february and march was mainly due seasonal fall industrial electricity costs and lower scheduled prices for petroleum products the department said the department said these falls were only partly offset rise prices home produced food manufacturing materials the seasonally adjusted index for input prices showed pct rise between february and march year year the input price index was down pct march after pct drop february reuter 
nat-gas	statoil seeks share thai gas field norway state oil company den norske stats oljeselskap statoil stat has told thai authorities interested taking pct share big offshore thailand gas field statoil said the field the southern sector the gulf thailand currently operated oil company texas pacific oil inc unit canada seagram ltd thailand state oil company petroleum authority thailand ptt also holds major stake the field ptt wants develop the field and has asked statoil consider development the field licence renewed ptt according statoil currently negotiating with texas pacific buy back the dallas based oil company holdings the field ptt must first sort out its problems with texas pacific when this done have said are interested taking over pct share the field statoil spokesman willy olsen told reuters statoil hired ptt carry out independent appraisal the field reserves and propose development plan has estimated the field could commercially developed cost some mln crowns industry sources said texas pacific has submitted lower reserve estimates for the field than statoil and shown little interest its development statoil refused disclose its upgraded reserve estimate for the field the field reserves could sold domestically through thailand gas distribution network converting the gas electricity the sources said sources would not say which field statoil considering reuter 
earn	credit commercial france splits shares french commercial bank credit commercial france has split each its shares into four increase the number shares offer when privatised the end this month company official said told reuters general assembly had passed proposal splitting mln shares francs nominal into around mln shares francs nominal market sources have put the total value ccf selloff between four and five billion francs the bank said the share sale price was likely announced april before the launch public flotation offer april reuter 
gnp	west german institutes call for early tax cuts the five leading west german economic research institutes said the government should more stimulate economic growth and called for early introduction tax cuts planned for their joint spring report the institutes were divided about growth forecasts with three predicting two pct expansion and the other two only one pct growth gross national product grew pct last year but the report said all the institutes believed that more must done produce dynamic growth that more additional jobs can created the institutes said any step which improved basic economic conditions should taken quickly possible from this point view the tax reform planned for should brought forward the government plans gross tax reductions billion marks part the major tax reform the net tax relief from the tax reform will amount billion marks however the institutes criticised the government not only for the timing the reform but also because the question its financing had been left open the government has not specified how the remaining billion marks the tax reduction package will paid for though has said wants cut state subsidies the institutes said this lack clarity from bonn had caused uncertainty among companies and households what exactly they would receive from the tax reform and urged quick decision from the government they also said the government should reduce tax preferences which would simplify the fiscal system urged restriction state spending and called for increase value added tax the institutes also criticised bonn for increasing subsidies time further reductions had been pledged they referred specifically doubling special writedowns for small and medium sized companies announced package tax adjustments planned for and described this increase subsidies the institutes said total subsidies including tax preferences had reached billion marks and risen further since then given the scope these subsidies should possible despite major political difficulties finance the tax reform cutting state handouts the institutes said that the government raised value added tax other indirect taxes large portion the positive effects resulting from lower taxes would lost the report also noted that the government was progressing only slowly with its plans privatise state companies and said more deregulation was needed the government had aim for more competition said reuter 
earn	glaxo pre tax profit mln stg mln six months end december 
acq	hillsdown buys bedding companies for mln dlrs hillsdown holdings plc hldn said its christie tyler ltd unit would buy the european bedding making interests simmons owned gulf and western industries inc usa for mln dlrs the acquisitions include sleepeeze ltd the compagnie continentale simmons france and compagnia italiana simmons spa italy the three businesses made pre tax profit around mln stg sales mln stg net assets being acquired come around nine mln stg hillsdown shares were unchanged reuter 
earn	glaxo profits sharply dividend raised six months end december shr div pre tax profit mln stg mln turnover mln mln tax mln mln note company full name glaxo holdings plc glxo trading profit mln mln share profits associates mln seven mln investment income less interest payable mln mln profit after tax mln mln minority interests two mln one mln extraordianry credit eight mln nil turnover includes continuing activities mln mln discontinued activities eight mln mln mln mln europe mln mln north america mln mln central and south america mln mln africa and middle east mln mln south east asia and far east mln mln australasia mln mln anti peptic ulcerants mln mln systemic antibiotics mln mln respiratory system mln mln reuter 
acq	takeover battle for dome petroleum begins takeover battle began today for debt burdened dome petroleum ltd dmp transcanada pipelines ltd trp announced billion dlr offer and dome said continuing talks with other possible buyers companies mentioned market speculation potential buyers for dome include imperial oil ltd imo which pct owned exxon corp xon pancanadian petroleum ltd which pct owned the conglomerate canadian pacific ltd and british petroleum plc along with the transcanada offer dome has had another proposal from substantial company and discussions with third company which could lead offer dome said statement the statement confirmed dome received transcanada bid but did not identify the companies involved talks transcanada canada largest natural gas pipeline operator said offering dome package cash common and preferred shares and shares new subsidiary which would own and operate dome assets transcanada said the offer dome management not shareholders dome has massive oil and gas landholdings canada totalling mln acres which mln have been developed also has tax credits worth about billion dlrs dome statement said the transcanada announcement violated the terms and spirit confidentiality agreement entered into with prospective purchasers and was apparently timed prevent dome from considering other proposals said the transcanada bid seems require favourable and substantial taxation concessions from the federal and provincial governments but dome added that its management and financial advisers will evaluate all proposals transcanada chief financial officer neil nichols said was surprised the vehemence dome statement and denied that transcanada was trying usurp other bids find dome statement very bothersome once the board made the decision authorise the proposal had legal obligation announce said nichols said did not know the identity the other bidders the terms other offers dome common shares closed dlrs friday the toronto stock exchange the preferred class stock closed dlrs common stock traded high dlrs reuter 
money-fx	bank japan sell billion yen bills the bank japan will sell billion yen deficit financing bills today through day repurchase agreements maturing june help absorb projected money market surplus money traders said the operation will raise the outstanding supply the bills record billion yen the yield the bills for sale banks and securities houses from money houses will pct compared with the two month commercial bill discount rate today pct and the two month certificate deposit rate pct the traders estimated the surplus today about billion yen they said mainly due billion yen government tax allocations local governments and public entities and excessive banking system cash holdings due continuous large central bank dollar purchases reuter 
alum	lme clarifies new aluminium contract details the london metal exchange lme has issued note clarifying details its new high grade aluminium contract response questions from members following the announcement the contract due start june all deliverable shapes aluminium under the high grade primary aluminium contract minimum pct purity will also deliverable against the standard primary aluminium contract min pct the lme said sows will not constitute good delivery against the standard contract until september and pct purity sows are not good delivery and cannot placed lme warrant the dollar quotation for the high grade contract will multiples one dollar but carries may made cents for even tonnages only singapore which the first port warehouse outside europe used lme delivery point will used for high grade metal only and the rent imposed owners steinweg will dlr tonne per week the lme said the lme board response representation from the trade agreed annul from lme contracts the minimum weight requirements kilos for bars and kilos for sows effective for high grade june and for standard july reuter 
sugar	north yemen bought white sugar tender trade north yemen its weekend tender bought white sugar from french operator acting behalf swiss house dlrs tonne and traders said the amount bought was not immediately available although the country had sought tonnes june arrival whites they said reuter 
money-fx	money market given mln stg assistance the bank england said had provided the money market with mln stg help the morning session this compares with the bank estimate that the system would face shortage around mln stg today the central bank bought bank bills outright comprising two mln stg band two pct mln stg band three pct and mln stg band three pct reuter 
zinc	metal bulletin zinc producer price the london based trade journal metal bulletin average producer price good ordinary brand zinc for week ended april dlrs per tonne reuter 
wpi	producer prices seen moved technicalities producer price data for march were roughly expected after taking into account technical factors which affected the year year outcome economic analysts said the figures showed pct provisional non seasonally adjusted rise output prices march unchanged from february and close the average for the last six months the year year rise was put pct down from pct february but chris tinker economist brokerage house phillips and drew said the drop the year year rate mainly reflected rise excise duties which affected the index march last year cautioned that was dangerous read too much into the monthly figure adding that rise only pct april would take the year year rise back above pct analysts also noted that drop manufacturers input prices was almost entirely due anticipated seasonal factors such fall industrial electricity costs duncan squire lloyds merchant bank said the figures were slightly disappointing that the strengthening sterling had not yet reduced input prices much expected both and tinker said this factor should help keep input costs down over the next few months although tinker added that last year fall oil prices now about drop out the year year comparisons and likely lead return rises the index rather than falls reuter 
gnp	bangemann rejects call for early tax cuts west german economics minister martin bangemann indirectly rejected call from the country leading economic research institutes for early introduction major tax reform involving gross tax cuts billion marks statement reacting the five institutes joint spring report bangemann said that far the call for bringing forward the tax reform was concerned the government points out that the positive effects for growth its policy consolidation cutting the budget deficit must not allowed endangered bangemann also recalled that the scope tax cuts planned for had already been increased three institutes predicted two pct economic growth with exports falling pct the other two saw only one pct growth and said exports would fall pct bangemann said the government agreeing with the majority sees reason for the extraordinarily pessimistic estimate for exports expressed the minority said there was reason believe that export demand would start rise the course the year partly because further increase world trade reuter 
gnp	italian gdp rose pct fourth quarter italy gross domestic product calculated prices rose pct the fourth quarter compared with the same period national statistics institute istat said istat said statement that gdp growth fourth quarter was zero compared with the preceding quarter italy budget ministry said last month that gdp rose pct real terms from imports the fourth quarter totalled billion lire down pct from the fourth quarter and down pct from the third quarter istat said istat said exports totaled billion lire the fourth quarter down pct from the comparable quarter and down pct from the third quarter fixed investments were billion lire the fourth quarter down pct from the preceding quarter and pct from the comparable quarter reuter 
dlr	seems worried markets ignore coordination top officials leading industrial nations appear deeply worried that financial markets have ignored their efforts coordinate policies which they believe they strengthened talks last week monetary sources said officials were exasperated that the markets which drove the dollar rapidly lower and severely disrupted bond and stock markets too did not take heed the policy commitments the group seven the united states japan west germany france britain italy and canada treasury secretary james baker went out his way reassure markets his commitment stable dollar with statement and french finance minister edouard balladur underscored that saying don believe all that the americans want weaker dollar west german finance minister gerhard stoltenberg said the dollar latest rapid descent involves the risk now already tangible threat new strong surge inflation leading renewed rise interest rates but there were signs too that while policymakers feared the market uproar they seemed accept there was little they could until the economic picture changed and currencies settled into stable pattern result nor did there seem any enthusiasm last week semi annual meetings the imf and the world bank for higher interest rates the best way curb the dollar rapid descent that distaste stems part from fears recession outgoing deputy treasury secretary richard darman told television interviewers did not think policy driving the dollar down would solve the trade deficit would slow growth germany and japan which would adversely affect our trade balance and ultimately would drive interest rates here which would throw not into recession into slower growth said asked higher interest rates would stabilize the dollar balladur said when currency maintained artificially high artificially high interest rates not healthy and resorting higher interest rates could lead recession said acknowledging the dollar latest slide was now fact life balladur said there may adjustments course one other currencies this not fixed rate system but federal reserve board chairman paul volcker said might rein credit the dollar slide deepens monetary sources also said washington wanted understood markets the seven commitments were genuine the united states and the six major industrial countries are fully committed implementing our undertakings these agreements baker told the meetings darman said baker had been misinterpreted markets which wrongly believed earlier remarks suggested wanted further decline the dollar baker darman said was committed stabilizing currencies current levels last week statement from the seven reaffirmed february agreement paris which the reagan administration agreed reach budget deficit compromise with congress and fight protectionism west germany and japan meanwhile agreed stimulate domestic demand and lead global upturn ministers believed the paris pact was bolstered japan promise billion dlr supplementary budget the sources said they believed baker saw major action but the seven seem accept their commitment stable currencies applied today exchange rates and not those the time the paris agreement when the dollar stood higher the paris accord said currencies are within ranges broadly consistent with underlying economic fundamentals given the policy commitments summarized this statement now they accept the dollar lower level especially against the yen hard reality that nonetheless consistent with the agreement the ministers and governors reaffirmed the view that around current levels their currencies are within ranges broadly consistent with fundamentals last week statement read monetary sources said policymakers understood markets were focusing instability created the gap between the trade deficit and the surpluses west germany and japan rather than prospective policy changes european monetary sources said bonn was still unconvinced that washington meant business with its commitment cut the budget deficit reuter 
gnp	institutes see west german recession the five leading west german economic research institutes which have revised down their forecasts for growth not predict recession west germany their spokesman hans juergen schmahl said the institutes were divided their spring report forecasts for with three predicting two pct growth and two seeing only one pct expansion growth was pct schmahl presenting the report news conference said none the institutes reckons with recession with the beginning recession added however that exports remained the weak point the economy schmahl also said west germany would have expect further encroachments foreign goods onto its markets arthur krumper munich ifo institute which with the diw west berlin had presented the more pessimistic view the economy said the braking effects the economy produced external factors will remain considerable for most the year reuter 
earn	deposit guaranty corp deps qtr net shr dlrs dlrs shr diluted dlrs dlrs net reuter 
acq	computer associates starts bpi bpii bid computer associates international inc said has started its previously announced dlr per share tender offer for all shares bpi systems inc newspaper advertisement the company said the offer which has been approved the bpi board and followed merger the same price conditioned receipt least shares the offer and withdrawal rights expire may unless extended addition shares sought the tender shareholders bpi owning shares pct have agreed sell their shares computer associates for the tender price reuter 
earn	king world productions inc kwp qtr feb shr cts eight cts net revs mln mln half shr cts cts net mln revs mln mln reuter 
earn	blue circle profits dividend rise year end december shr div making pretax profit mln stg mln turnover billion mln tax mln mln note company full name blue circle industries plc bcil company said proposes one for one capitalisation issue gross profit mln mln distribution costs mln mln administrative expenses mln mln other operating income mln mln share profits related companies mln mln operating profit mln mln net interest payable mln mln exceptional items mln debit mln debit minorities mln mln extraordinary items after tax mln mln pretax profit includes mln mln mln mln mexico mln mln australasia mln mln africa mln mln reuter 
acq	crazy eddie crzy may make acquisition crazy eddie inc said negotiating for the possible acquisition benel distributors ltd which operates crazy eddie record and tape asylums all crazy eddie stores said the acquisition would probably also include affiliate disc mat inc which operates number record and tape stores the new york metropolitan area other details were not disclosed reuter 
acq	crazy eddie crzy sets defensive rights crazy eddie inc said its board has adopted defensive shareholder rights plan and said has received friendly inquiries its acquisition said under the plan shareholdrs record april will receive right purchase under certain circumstances price dlrs preferred share for each common share held the rights will expire april nine the company said the rights would exercisable business days after party were acquire pct more crazy eddie common stock announce tender exchange offer that would result ownership pct more crazy eddie said party owning pct more its stock were merge into party were acquire pct more crazy eddie stock right holders other than the acquiring party would entitled acquire common shares other securities assets with market value equal twice the rights exercise price after party acquired pct more its stock crazy eddie were acquired pct its earnings power assets sold rightholders other than the acquirer would entitled buy shares the acquirer common stock worth twice the rights exercise price the company said crazy eddie said party were acquire pct more its common stock and then fail acquire crazy eddie within days thereafter rightholders would entitled exchange their crazy eddie common stock for subordinated notes crazy eddie maturing either one year above certain dollar limt five years after issuance crazy eddie said adoption the plan not response any known effort acquire control but the company said has become aware some possible accumulations its stock has has received some friendly inquiries reuter 
gold	six killed south african mine six workers were killed and four injured undeground rock fall south africa second largest gold mine today the mine owners said was the third major mine accident the country less than week thirty four workers died methane gas explosion coal mine last thursday reuter 
money-fx	zambia kwacha falls weekly auction the zambian kwacha fell this week foreign exchange auction kwacha the dollar from last week the bank zambia said the rate was the lowest since the auctions resumed two weeks ago under new two tier exchange rate system worked out with the world bank and international monetary fund the bank zambia said received bids ranging from kwacha for the six mln dlrs offer one hundred and thirty five bids were successful british high commission spokesman said britain would put eight mln stg into the auction rate one mln week soon zambia reached full agreement with the imf the money could spent only goods produced and supplied british firms excluding luxuries and defence equipment the spokesman added reuter 
interest	senate leader calls for interest rate cuts senate finance committee chairman lloyd bentsen tex called major industrial countries make pledge the coming economic summit venice cut interest rates think the summit meeting venice what ought trying get the other major industrial nations that are involved bring interest rates down say one pct bentsen told nbc television meet the press bentsen said coordinated rate cuts could take billions off the debt service the latin countries and help ease protectionist pressures the industrial countries bentsen also south korea and taiwan should pressured revalue their currencies relation the dollar you take the taiwanese with enormous capital surplus enormous trade surplus and had very little cooperation there said departing deputy treasury secretary richard darman told the same television network agreed that the dollar had not fallen enough against the currencies some countries think that more does have done there negotiations with the countries involved the called nics newly industrialized countries said darman said such negotiations with newly industrialized countries were underway privately bentsen predicted congress and the white house would agree fiscal budget that would raise between and billion dlrs new revenues the texas senator said series excise taxes would considered congress including extension the telephone tax and new levies liquor and cigarettes bentsen said supported oil import fee but that would not happen without president reagan support darman called for top level negotiation between the white house and congress budget compromise that would include asset sales some excise taxes cuts middle class entitlement programs reasonable steady rate growth defense and reform the budget process reuter 
acq	offer for dome may short circuit its debt talks billion dlr offer for dome petroleum ltd dmp transcanada pipelines ltd trp may short circuit dome restructuring plan and open the door for more takeover bids oil analysts said dome trying get approval for plan refinance debt more than billion dlrs july when interim debt plan that allowed the canadian oil and gas firm defer substantial payments creditors will expire analysts said transcanada bid signals dome debtholders that alternative exists dome debt plan dome announced its plan major creditors well public noteholders march after several months delicate negotiations transcanada proposal amounts quasi debt restructuring oil analyst doug gowland brown baldwin nisker ltd said from toronto calgary based dome restructuring plan would allow creditors convert debt common shares under formula yet negotiated payments remaining debt would linked cash flow generated assets pledged against the debt the weakness the whole debt refinancing proposal that even with approval creditors there assurance that dome will fact able repay all its debt obligations said wilf gobert oil analyst for peters and ltd calgary transcanada announcement came surprise since dome was waiting for responses from creditors its proposed refinancing packages gobert said the transcanada proposal could open the bidding for dome since other potential buyers were probably waiting for lenders agree restructuring added would think that the debtholders would want entertain any and all offers for dome gobert said dome spokesman david annesley said new york that transcanada announcement could seen attempt fix the bidding price for dome and effort preclude other possible buyers from making offer drawing attention our discussions means that others may little reluctant come forward said dome does not consider transcanada proposal formal offer because the pipeline utility announcement breached confidential agreement between the two companies said dome responded the statement suspending discussions with transcanada order pursue talks with other unidentified parties however dome said its management and financial advisers would evaluate all proposals including transcanada gowland said transcanada offer probably fair price for the company mln acres oil and gas land holdings however said not enough financial details are known about dome debt restructuring compare the value transcanada proposed offer reuter 
acq	sosnoff raises bid for caesars world caw investor martin sosnoff said has raised his offer for caesars world inc shares dlrs each from dlrs and has reduced the number shares seeking mln from all those not already owned newspaper advertisement sosnoff said the bid his mts acquisition corp withdrawal rights and the proration period will now expire june unless extended the offer had been scheduled expire may late march sosnoff said had received negligible number shares response the offer which had been rejected caesars inadequate sosnoff already owns about four mln caesars mln common shares now outstanding pct interest primary basis last week caesars board approved recapitalization plan alternative the sosnoff offer under which shareholders would receive special dividend dlrs per share subject approval shareholders special meeting held june the company planned borrow mln dlrs and sell mln dlrs debt finance the payout sosnoff said the newspaper advertisement that the amended offer conditioned receipt enough shares give him majority interest fully diluted basis and the arrangement financing well approvals new jersey and nevada gaming authorities said the tender would the first step acquiring all caesars shares and successful would followed merger transaction sosnoff said later statement that the mln shares now seeking together with the shares owns would give him pct interest fully diluted basis said still has received only negligible number shares response his tender letter caesars chairman henry gluck included the statement sosnoff said gluck had again refused april meet with him even though had said was willing increase the price his offer sosnoff said the financing for the offer almost fully place sosnoff said painewebber group inc pwj has now delivered him commitments purchase mln dlrs increasing dividend cumulative exchangeable preferred stock mts holding corp indirect parent corporation mts acquisition said marine midland banks inc which leads syndicate that has provided commitments for mln dlr margin facility believes will able arrange for further commitments under the margin facility advance additional mln dlrs that may needed permit the purchase shares under the offer sosnoff said under the merger that would follow his tender each the caesars shares not covered the offer pct fully diluted basis would converted into series preferred stock valued dlrs per shareby independent investment baking firm said the extent that fewer than sdhares are purchased the offer the stockholders would receive combination cash and series preferred stock having value dlrs per share caesars sosnoff said believes terms his offer are superior caesars recapitalization sosnoff said will meeting this week with gaming officials nevada effort expedite the investigatory process required for regulatory approval process that already underway new jersey said his offer has been extended based the likely duration the regulatory process said intends further extend the offer the approval process not completed the expiration date reuter 
earn	compact video inc cvsi year loss shr loss cts loss two cts net loss loss revs mln mln note results for months ended dec and eight months ended dec because the acquisition brooks drug september and the company change fiscal year prior year results are not comparable compact video explained reuter 
earn	neworld bank for savings nwor qtr net oper shr cts cts oper net note net excludes dlr tax credit reuter 
acq	usair buy pct mln piedmont shares tendered 
tea	pakistan confirms kenya tea import investigation pakistan corporate law authority cla has begun enquiry into imports tea from kenya and the trade imbalance between the two countries cla chairman irtiza husain confirmed told reuters telephone that importers liptons and brooke bond had been asked supply data the authority and hearing would held the cla would then report back the commerce ministry which had requested the enquiry husain said date had yet been set for the hearing and declined give further details the matter industry sources told reuters reports that the companies tea import licences had been suspended were incorrect reuter 
earn	merrill lynch first qtr shr one dlr cts 
earn	merrill lynch and mer qtr net shr primary one dlr cts shr diluted cts cts net mln mln rev billion billion reuter 
acq	corona icr favors royex rgm offer international corona resources ltd said its board directors believes that terms royex gold mining corp previously announced offer are fair and reasonable but decided will make recommendation the offer its shareholders royex march offered buy four mln corona shares for each corona share offered four dlrs cash one series share royex one series share royex and one share purchase warrant also bid for all corona warrants expiring aug reuter 
acq	atlantic soaf independence inho merge south atlantic financial corp said has agreed principle merge with independence holding into new company called safco international ltd said each south atlantic share would exchanged for one safco share and each independence share for safco shares independence now owns about pct south atlantic mln primary common shares south atlantic said said its chairman and chief executive officer sheldon gordon would have the same posts with safco and independence president ronald strackbein would president safco the company said the transaction subject execution definitive agreements the receipt fairness opinions from investment banks and approval boards and shareholders both companies said proxy materials are expected maioled this quarter both south atlantic and independence are insurance companies reuter 
earn	home federal upper east tennessee hfet qtr shr cts not given net note company went public fourth quarter home federal savings and loan association upper east tennessee reuter 
nat-gas	columbia gas seeks contract cost recovery columbia gas transmission corp said made abbreviated streamlined filing with the federal energy regulatory commission recover portion its costs renegotiating high cost gas purchase contracts recently the columbia gas system inc pipeline subsidiary said ferc denied procedural grounds and without prejudice proposal include these costs the company most recent purchased gas adjustment pga filing noting has has asked for rehearing the denial ruling columbia gas said would withdraw its alternative filing the commission grantes its request for rehearing include the contract renegotiation costs its pga consolidates this issue the pipeline general rate filing and permit recovery subject refund effective april one the company said the alternative filing seeks recover about mln dlrs year through the pipeline non gas sales commodity rates this annual amortization amount based recovery about mln drls over year period beginning april columbia gas said the filing would increase the pipeline commodity rates cts per mln btu dlrs per mln the company said orginially sought include these costs its pga since the payments products resulted almost five billion dlrs prospective price relief and were not related take pay buyout costs explained this interpretation was based ferc april statement policy which said that only take pay buyout costs must recovered through general rate filing under the natural gas act result renegotiating contracts for high cost gas columbia gas said has been able reduce the average price paid for gas purchased from southwest producers dlrs per mln btu december from dlrs per mln april the pipeline said southwestern producers account for pct its total available gas supply this year reuter 
cpi	hungary raises prices effort curb deficit hungary has announced sharp price increases for range food and consumer products part its efforts curb soaring budget deficit the official mti news agency said the government decided consumer price subsidies had cut reduce state spending from today the price meat will rise average pct and that beer and spirits pct mti said the measures are also aimed cooling overheated economy and could help dampen hungarians appetite for imported western goods which consume increasingly expensive hard currency the diplomats said the diplomats also said however that they did not expect the kind social unrest that followed sharp price rises other east bloc states notably poland mti said consumer goods will also become more expensive with the price refrigerators rising some five pct also announced number measures ease hardship including higher pensions and family allowances reuter 
acq	glatfelter says will buy ecusta corp for mln dlrs cash 
earn	family health systems inc fhsy qtr feb shr profit one nil net profit profit revs avg shrs mln nine mln six mths shr loss nil loss one net loss loss revs reuter 
earn	international business machines corp ibm net qtr shr dlrs dlrs net mln billion gross income billion billion avg shrs mln mln note pretax net billion billion sales billion billion maintenance gross income billion billion program products gross income billion billion and rentals and other services mln billion reuter 
acq	usair reports final proration factor usair group inc said announcing the final proration factor for its tender offer for piedmont aviation inc pie that mln shares pct the shares were validly tendered usair said has purchased and will pay for mln shares representing about pct those tendered reuter 
money-fx	money market given further mln stg help the bank england said provided the market with further mln stg assistance this afternoon bringing its total assistance the day mln stg shortly before the bank said had revised its estimate the shortage mln stg from the earlier forecast mln during the afternoon the bank bought mln stg band two bank bills pct and two mln stg local authority bills plus mln stg bank bills band four pct these rates were all cases unchanged from previous intervention levels reuter 
earn	goodyear predicts first quarter net goodyear tire and rubber said expects report earnings from continuing operations over one dlr per share mln average shares outstanding last year first quarter the company lost mln dlrs cts per share mln shares outstanding after mln dlr writedown oil reserves its celeron corp unit goodyear said will report first quarter results april goodyear chairman robert mercer also told the annual meeting that unless there major downturn the economy expects work its debt down normal levels three years through its restructuring and cash flow from improved margins the company set its restructuring program fend off hostile takeover attempt sir james goldsmith part the restructuring goodyear executed major stock buyback program that resulted increase its debt reuter 
trade	trade issues straining patience with japan member states the european community are starting run out patience with japan which they believe has repeatedly promised major initiatives open its market imports but often made only minor moves diplomatic sources here said several recent actions countries bear witness new disillusionment with the willingness least the ability the japanese government reduce its massive trade surplus with the however they said all out trade war may far off states know they would suffer almost much japan senior diplomats gave generally favourable reaction executive commission proposal under which the could raise tariffs range japanese products the carries out threat make similar move april the tariffs which would involve renouncing obligations entered into with the world trade body gatt would designed stop diversion exports the market from that the the diplomats were meeting tokyo announced that the trade deficit with japan reached record billion dlrs march from billion february reuter 
trade	could decide japan trade moves late may the european community has effectively given japan six weeks take moves open its market imports before decides possible tough retaliatory trade measures diplomats said they said foreign ministers will meet may and review the state trade relations between the two sides the executive commission was asked representatives member states friday propose renunciation some pledges the world trade body gatt unless there are adequate and early measures open the japanese market such renunciation would the first step imposing stiff increases duties quantitative limits japanese exports the diplomats said was unlikely that the issue would discussed detail the next meeting foreign ministers april and luxembourg time was needed prepare proposals for possible retaliatory action they said the commission has powers take some limited action before getting ministerial approval prevent japanese exports electrical photographic and other goods being diverted europe following possible tariff moves may the ministers are also likely discuss how prevent japan from getting extra trading advantage result spain and portugal joining the bloc which obliges them gradually reduce tariffs many industrial goods japan trade surplus with the community has grown steadily registering record billion dlrs march reuter 
acq	glatfelter glt acquiring ecusta glatfelter said has reached agreement acquire all the capital stock ecusta corp for dlrs cash glatfelter printing and writing paper maker said ecusta operates uncoded three sheet and light weight specialty paper mill pisgah forest the mill produces and converts paper products used the doemstic and foreign tobacco industry glatfelter said expects close the deal may reuter 
earn	ncr corp qtr shr cts cts 
earn	first marathon fms plans stock split first marathon inc said planned two for one stock split effective shareholders approval the june annual meeting the financial services company said also completed the previously reported mln dlr private placement mln non voting preferred shares convertible one for one into non voting class shares reuter 
earn	bancorp usbc qtr net shr cts cts net mln mln avg shrs mln mln reuter 
earn	ibm ibm has higher shipments costs qtr international business machines corp said shipments and revenues were higher the first quarter but net earnings fell pct part due higher expenses ibm said net income fell mln dlrs dlrs share from billion dlrs dlrs about pct fewer shares outstanding while total sales and income rose pct billion dlrs from billion dlrs costs and expenses rose pct billion dlrs from billion the quarter the computer maker said the company said continues take actions make more competitive including cost and expense reduction measures although the worldwide economic situation remains unsettled there are some encouraging signs our business ibm said statement addition the increase first quarter shipments have announced new offerings our large processor and personal computing product lines said have yet fully benefit from our recent product announcements retirement incentives and other resource balancing measures and expect these actions will have more significant impact progresses the company added said expects more than employees take advantage the retirement incentives announced last year pretax earnings fell pct billion dlrs from billion ibm said pretax margins slipped pct from pct said reuter 
earn	lindberg corp lind qtr net shr cts cts net sales mln mln avg shrs mln mln note net includes gain dlrs two cts share from proceeds from the sale property reuter 
earn	ncr corp ncr qtr net shr cts cts net mln mln revs billion mln avg shrs mln mln reuter 
wpi	german producer prices fall pct march west german producer prices fell pct march compared with february stand pct lower than march last year the federal statistics office said february producer prices fell pct from january and dropped pct from their levels year earlier the statistics office said producer prices for natural gas had fallen pct march against february heavy heating oil prices were pct down liquefied gas prices fell pct and coffee was pct cheaper reuter 
interest	fhlbb changes short term discount note rates the federal home loan bank board adjusted the rates its short term discount notes follows maturity new rate old rate maturity days pct pct days days pct pct days days pct pct days days pct pct days days pct pct days reuter 
earn	galileo electro optics corp gaeo qtr shr cts cts net mln revs mln mln six months shr cts cts net mln mln revs mln mln avg shrs mln mln note quarter ended march six months includes charge dlrs due reversal investment tax credits reuter 
acq	boston five bfcs neworld nwor merge boston five cents savings bank said and neworld bank for savings have agreed merge forming new holding company boston five bancorp boston five said the proposal calls for its holders receive shares the new company stock for each share now held and for neworld bank holders recieve one share for each share held tax free exchange boston five said the planned merger with newworld bank for savings will create the largest savings bank massachusetts and the third largest new england with combined assets billion dlrs boston five chairman robert spiller said there natural fit between both banks consider this merger equals spiller will become chairman boston five bancorp and neworld president james oates will president and chief executive officer boston five said its president peter blampied will become vice chairman and chief operating officer the holding company the board the holding company will have equal number directors from each institution unlike many recent combinations this merger has acquisition premium associated with blampied said boston five has assetsof billion dlrs and officers neworld has assets billion dlrs and officers massachusetts also has loan center new hampshire reuter 
earn	coopervision eye forms recapitalization plan coopervision inc said preparing recapitalization plan which includes common stock repurchase program and exchange debt securities for common stock the plan along with proposal change its name cooper cos inc will submitted for shareholders approval the company annual meeting june the meeting had been postponed from its original date may order let management review recapitalization options said addition coopervision said operating income its current fiscal quarter ending april expected show improvement over its prior fiscal quarter mln dlrs and its year ago quarter income from continuing operations was not immediately availalbe for the prior year second quarter which reported net loss mln dlrs drexel burnham lambert investor conference coopervision chairman parker montgomery said previously announced will listen any bid that makes sense for shareholders also said coopervision stock fell due its second quarter loss rumors liquidation dlrs and dlrs share and ivan boesky subsequent sale his position the stock dropped six dlrs three days after boesky sold his position and has never recovered montgomery said the company stock currently trading montgomery further told the conference don investor the stock the basis any short term recovery operating net income and our concentration maintaining increasing market share our core businesses this year and next regardless the impact the bottom line said reuter 
coffee	colombia june coffee registrations opened colombia has opened coffee registrations for june shipment with limit set for private exporters april and may national coffee growers federation official said colombia has sold average bags per month since the beginning the calendar year reuter 
lei	canada leading indicator pct january after pct december rise official 
money-supply	spanish money supply growing double target pace spain principal measure money supply the broad based liquid assets public hands alp grew annualised rate pct march against pct february and pct march last year provisional bank spain figures show the bank target range for this year pct and bank spain governor mariano rubio said this month was aiming for the lower end that range alp grew pct during reuter 
earn	reebok international limited rbk qtr shr cts cts net mln mln revs mln mln avg shrs mln mln note quarter amounts not includes sales avia group international inc acquired the end the first quarter quarter revenues include rockport revenues mln dlrs quarter amounts not include rockport reebok acuqired that company october reuter 
earn	blount inc blt qtr net oper shr cts three cts oper net revs mln mln avg shrs mln mln year oper shr cts cts oper net revs billion billion avg shrs mln mln note prior year net excludes gains dlrs quarter and dlrs year from termination overfunded pension plans backlog billion dlrs mln dlrs reuter 
money-fx	money market given late help mln stg the bank england said gave the market late assistance around mln stg bringing its total help the day some mln stg this compares with the bank estimate the liquidity shortage around mln stg raised from its early forecast mln stg reuter 
gold	giant bay gbylf idaho gold venture giant bay resources ltd said signed agreement principle with hecla mining for operating joint venture hecla stibnite idaho gold deposit giant bay said its bioleaching technology used for ore processing will have the right acquire working interest the property said may spend much three mln dlrs excluding capital costs bring the mine into production said drilling has indicated substantial sulphide reserves with gold grade about ounce ton and early tests show the gold ore responds bioleaching reuter 
acq	blue arrow acquire richards consultants blue arrow plc said signed agreement acquire richards consultants ltd for mln dlrs cash and securities richards privately owned new york based executive recruitment firm part the agreement blue arrow said the four principal shareholders who manage richards will enter into long term service contracts with the agreement subject approval blue arrow shareholders reuter 
earn	merry round mgre sets stock split merry round enterprises inc said its board declared three for two stock split payable may one holders record april reuter 
lead	asarco ups lead price cts asarco inc said increasing its base spot sales price for refined lead one half cent cents fob delivered carload lots effective immediately reuter 
earn	irving bank corp qtr shr dlrs dlrs 
earn	irving bank corp qtr net shr dlr dlr net mln mln assets billion billion deposits billion billion loans billion billion reuter 
earn	sullivan corp osl qtr net shr cts cts net rev mln mln note the earnings per share adjusted for four for three stock distribution paid may reuter 
interest	french week bill average rate rises pct from pct official 
earn	park communications inc parc qtr net shr cts cts net revs mln mln reuter 
earn	nvhomes nvh sets split payment date nvhomes said april will the distribution date for new units result its previously announced two for one split unitholders record april reuter 
earn	berkey inc bky qtr net greenwich conn april oper shr profit one cent loss cts oper net profit loss revs mln mln mths oper shr loss dlrs loss cts oper net loss mln loss revs mln mln note qtr excludes profit dlrs cts per share from discontinued operations and excludes loss dlrs cts per share for net operating loss carryforward mths excludes discontinued operations loss dlrs three cts per share mths excludes discontinued operations gain dlrs dlrs per share and excludes gain dlrs cts per share for net operating loss carryforward reuter 
acq	dillard department stores agrees buy two allied stores units for mln dlrs cash 
earn	chemical new york corp qtr shr dlrs dlrs 
interest	bankers trust raises broker loan rate bankers trust said raising its broker loan rate pct from pct effective immediately trust the only other bank publicize its broker rate was already posting pct reuter 
acq	pentland reduce reebok rbk holdings pentland industries plc said report substantial capital gain from the sale part its holdings reebok international limited which will cut its stake reebok pct from pct said reebok filed registration statement with the securities and exchange commission for the offering six mln shares reebok common reebok will sell three mln shares and pentland will sell shares reducing its stake reebok mln from mln shares after the offering reebok will have mln shares shares outstanding pentland said the amount the capital gain from the sale depends the offering price for the reebok shares negotiated between reebok and the other selling stockholders who will offer about mln shares reebok common and the underwriters pentland said proceeds from the offering will used reebok retire bank debt incurred its acquisition avia group for about mln dlrs said that afterwards reebok will have bank credit lines available for general corporate purposes including possible acquisitions reebok stock was selling that price the mln reebok shares pentland will sell are worth about mln dlrs and the three mln shares reebok will sell are worth about mln dlrs pentland said will use proceeds fund growth and possible acquisitions pentland said shares rebbok will offered the syndicate led kidder peabody and inc and shares will offered outside the international syndicate led kidder said the underwriters have been granted option buy from certain selling stockholders additional shares cover overallotments pentland said has not chosen participate this over allotment pentland said that soon the date and price the offering have been determined will release further details said expects the offering close may reuter 
lei	canada january leading indicator pct canada leading composite indicator rose pct january with eight the major components posting gains the most widespread monthly advance the past year statistics canada said the index also gained pct the preceeding month the unfiltered index however fell pct january after rising pct december the gain was led the residential construction index while the manufacturing groups continued improve and the stock market index turned the federal agency reported reuter 
earn	national westminster bank plc qtr net net mln mln note national westminster bank plc subsidiary loan loss provision mln mln investment securitiesd gaons dlrs dlrs figures dollars reuter 
earn	irving bank cites loans earning decline irving bank corp said the decline its first quarter earnings mln dlrs from mln dlrs the year ago period were due the placement non accrual basis mln dlrs and mln dlrs medium and long term loans borrowers brazil and equador excluding the impact the non accrual loans irving said its first quarter net income would have rose pct mln and per share amounts would have risen eight pct dlr the first quarter the bank reported earnings per share dlr compared dlr the same period last year reuter 
fuel	global lowers heavy fuels prices global petroleum corp said today lowered the posted cargo prices for number six fuel the new york harbor cts barrel effective today the decrease brings the prices for one pct sulphur dlrs down cts two pct sulphur dlrs down cts pct sulphur dlrs down cts and pct sulphur dlrs down cts prices for pct and pct sulphur remained unchanged and dlrs said reuter 
earn	chemical new york corp chl qtr net shr dlrs dlrs net avg shrs assets billion billion loans billion billion deposits billion billion return assets pct pct return common equity pct pct note qtr net reduced mln dlrs because billion dlrs brazil loans were placed non accrual reuter 
livestock	ccc accepts bonus cattle canary islands the commodity credit corporation ccc has accepted bid for export bonus cover the sale head dairy cattle the canary islands the agriculture department said the cattle are for delivery may october said the bonus was dlrs per head and was made holstein friesian inc and will paid the form commodities from the ccc inventory additional headed dairy cattle for still available the canary islands under the export enhancement program initiative announced july said reuter 
earn	afg industries inc afg qtr net shr primary cts cts shr diluted cts cts net revs mln mln avg shrs primary reuter 
alum	work greek alumina plant start end may preparatory work for construction mln dlr alumina plant near the village aghia efthymia the greek province fokida will begin the end next month and the plant will operational industry undersecretary george petsos said greece yesterday signed contracts with the soviet union for the joint venture project the biggest investment the country for years petsos said the soviet union which had initially agreed buy tonnes would now purchase the plant entire output tonnes year reuter 
earn	new milford savings bank qtr net shr cts cts net note includes five shr charge from loan loss provision reuter 
earn	ahmanson and ahm qtr net shr cts cts net revs mln mln avg shrs loans billion billion deposits billion billion assets billion billion note prior qtr per shr figure adjusted for three for one stock split may reuter 
sugar	pakistan reportedly bought white sugar tender pakistan reported have bought tonnes white sugar its weekend tender from north korean operator traders said the purchase believed priced around dlrs tonne cost and freight for fine medium grain was due shipped for arrival may tonnes june and july tonnes they said reuter 
money-fx	fed expected set three day repurchase pacts the federal reserve expected enter the government securities market add temporary reserves directly arranging three day system repurchase agreements economists said they said the fed may add the reserves indirectly instead via large round two billion dlrs more customer repurchase agreements federal funds which averaged high pct friday opened pct and traded between there and pct reuter 
acq	allied stores als sells dillard dds two units dillard department stores inc based little rock ark and allied stores corp jointly said they entered definitive purchase agreement for the sale dillard the joske and the cain sloan divisions allied for mln dlrs cash subject certain closing adjustments the sale excludes certain real estate assets joske and cain sloan which allied estimates have aggregate value mln dlrs based current market conditions joske has stores texas and one arizona cain sloan has four stores nashville joske the largest unit allied has slated for sale its restructuring allied stores corp subsidiary campeau corp was acquired acquired the canadian developer last year robert campeau chairman allied said this terrific start our disposition program which proceeding well ahead schedule this sale will fulfill the requirements under our bank agreements sell certain assets june and give additional flexibility the disposal the remaining divisions being sold allied stores required pay mln dlrs bank debt june there had been some doubts wall street that the company could meet the payment campeau source said believe this cash sale puts very strong negotiating position maximize the proceeds allied can receive from its other divisions allied was able put itself position where knows will able meet the june payment schedules the source said about bilion dlrs allied assets had been targeted for sale dec pay for the aquisition allied campeau allied will taking bids for its other divisions targeted for sale are bonwit tellers garfinckel dey donaldson herpolsheimer heer miller miller and rhoads pomeroy catherine plymouth shops and jerry leonard the divisions provided pct allied net sales and pct store profit fiscal reuter 
earn	ncr ncr continues expect earnings growth ncr corp earlier reporting higher first quarter profit said continues expect that will report record earnings and revenue for all our optimism based our incoming order rates and the strength our product lines the company said ncr corp plans additional new product announcements this year said without elaborating ncr earlier said first quarter profit increased mln dlrs cts share from mln dlrs cts share the prior year ncr full year earnings rose mln dlrs from mln dlrs the prior year ncr said the increase first quarter profit resulted from strong revenue growth which was particularly strong europe and pacific marketing groups growth revenues also improved the company said first quarter revenues increased billion dlrs from mln dlrs the prior year ncr dollar value first quarter worldwide incoming orders posted very substantial gain over the prior year first quarter ncr also said without giving specific figures order growth was broad based across ncr product lines with the greatest growth coming from said reuter 
earn	genetics institute inc geni qtr loss period ended february shr loss cts loss cts net loss loss revs avg shrs reuter 
earn	entre computer etre closing overseas units entre computer centers inc said discontinuing its european and australian operations the company today reported loss for the second quarter ended february dlrs after dlr pretax provision for the shutdown the overseas units and dlr tax credit year earlier earned dlrs said the overseas operations lost dlrs the second quarter and did not appear strong enough provide for future growth reuter 
earn	entre computer centers inc etre qtr loss shr loss cts profit cts net loss profit revs mln mln half shr loss cts profit cts net loss profit revs mln mln note current year net both periods includes dlr pretax provision for closing overseas operations and tax credits dlrs quarter and dlrs half reuter 
earn	merrill lynch mer investment revenues merrill lynch and said investment banking revenues were strong the first quarter rising mln dlrs from mln the first quarter have made steady progress period market activity which has been marked unprecedented activity william schreyer chairman and cheif executive officer and daniel tully president and chief operating officer said earlier the company reported first quarter net income mln dlrs one dlr per share from mln dlrs cts per share first quarter merrill lynch said its insurance revenues made the biggest gains the first quarter rising mln dlrs the this first quarter from mln dlrs last year first quarter reuter 
earn	standard microsystems corp smsc qtr net feb end shr profit four cts loss nil net profit loss revs mln mln avg shrs mln mln year shr profit four cts profit nil net profit profit revs mln mln avg shrs mln mln note net includes tax credits dlrs dlrs quarter and dlrs dlrs year reuter 
earn	pennsylvania real estate investment trust pei oper shr cts cts oper net revs avg shrs half oper shr cts cts oper net revs avg shrs note current year net excludes gains sale real estate dlrs quarter and dlrs half period ended february reuter 
earn	allwaste inc alws qtr feb shr profit four cts loss one cts net profit loss revs mln six months shr profit nine cts loss four cts net profit loss revs mln mln avg shrs mln mln reuter 
earn	scott and stringfellow scot qtr mar shr cts cts net revs mln mln nine months shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln note full name scott and stringfellow financial corp reuter 
earn	foster fwc unit audit reveals discrepancies foster wheeler corp fwc said audit its stearns airport equiment inc unit revealed substantial discrepancies stearns accounts that may require material adjustments previously announce consolidated results the company and its subsidiaries foster said certain stearn officers and senior management made stearn operations appear more profitable than they were improperly recording job costs said stearn president and controller had resigned foster spokesman said did not know the names the president and controller and could not immediately comment the release foster said the amount involved the discrepancy about mln dlrs before taxes about mln dlrs net after tax due improper recording job costs over period several years and continuing through part the first quarter stearns unit foster conergic corp subsidiary the company said the impact its results for was not likely significant but the amount charged prior periods had not been determined foster reported after tax earnings mln dlrs mln dlrs and mln dlrs for and respectively stearns based crowley texas makes airport baggage conveyor equipment and passenger loading bridges foster diversified international concern with subsidiaries operating worldwide based livingston new jersey its reported revenues for the period ended december billion dlrs the company said detailed audit and investigation continuing company spokesman declined comment further the investigation reuter 
trade	taiwan announces new round import tariff cuts taiwan announced plans for another round import tariff cuts foreign goods shortly before trade talks with washington which officials described move help balance trade with the united states wang der hwa deputy director the finance ministry customs administration department told reporters the list products included items asked washington the move part our government efforts encourage imports from our trading partners particularly from the united states said said the ministry sent proposal today the cabinet that the tariffs such products cosmetics bicycles apples radios garments soybeans and television sets cut between five and pct the cabinet was expected give its approval next thursday and the new tariff cuts would implemented possibly starting april added taiwan introduced sweeping tariff cut some foreign products last january aimed helping reduce its growing trade surplus with the united states the island largest trading partner washington however was not satisfied with the cuts and pressed for more reductions way cutting its huge trade deficit with taipei washington deficit with taipei rose record billion dlrs last year from billion widened billion the first quarter from billion year earlier taiwan official figures show today announcement came before departure later today member taiwan delegation for washington for series trade talks with officials the delegation leader vincent siew told reporters last night was leaving with heavy heart meaning that would face tough talks washington because rising protectionist sentiments the congress taiwan trade surplus with washington was the third largest after japan and canada siew said the talks starting april would cover calls for taiwan open its market american products purchases major machinery and power plant equipment import tariff cuts and protection intellectual property afraid this time have give more than take from our talks with the said without elaborating reuter 
grain	bulgaria romania grain crop seen less favorable current prospects for this year grain crop bulgaria and romania appear less favorable than the agriculture department officer belgrade said field report the report said the assessment was based travel the two countries from march april said crop conditions were better than earlier expected following the extreme dry conditions last fall and the prolonged winter temperatures this spring however general plant development was least three weeks more behind normal this spring and conditions varied greatly regions the report said fields seeded during the optimum period last fall and especially those receiving supplemental irrigation water about pct the fields observed appeared good condition with little evidence winterkill while others varied considerably the report said fields lacking adequate moisture last fall showed weak and uneven stands spotty germination and winterkill those fields averaged pct said reuter 
earn	elcor corp elk qtr march shr cts eight cts net mln revs mln mln nine months shr dlrs cts net mln mln revs mln mln note shares adjusted for for stock split payable may holders record may qtr and nine months includes tax loss carryforward gain dlrs and mln dlrs respectively qtr nine months includes tax loss carryforward gains dlrs and mln dlrs respectively reuter 
earn	abington savings bank abbk qtr net shr cts not given net loans mln mln deposits mln mln assets mln mln note prior share not given due june conversion stock ownserhip reuter 
earn	banking center tbcx qtr net shr cts not given net note company went public august figures restated net includes loan loss provision dlrs dlrs gain sale securities dlrs dlrs and gain sale loans dlrs dlrs reuter 
earn	chemical chl net hurt brazil expenses chemical new york corp said its first quarter profits fell pct largely because placed billion dlrs loans brazil non accrual chemical reported first quarter net income mln dlrs down from mln year earlier but declaring the brazilian loans non performing cost chemical mln dlrs lost interest income mln dlrs after tax pct jump non interest expense mln dlrs from mln also hit the bottom line said the rise was mainly due staff costs associated with continued growth consumer capital markets and investment banking activities excluding the effect placing brazil non accrual chemical said its net income would have been mln dlrs pct below earnings brazil suspended interest payments billion dlrs medium and long term debt february they are not resumed year end chemical said its after tax net for the whole will reduced about mln dlrs chemical also placed mln dlrs loans ecuador non accrual because the quito government also suspended interest payments its foreign debt this reduced interest income mln dlrs chemical said net interest income fell mln dlrs from mln and its net spread narrowed pct from pct this reflected the reclassification brazilian loans reduced federal income tax rate which affected the calculation the taxabale equivalent adjustment tax exempt assets and narrowing the spread between the prime rate and chemical cost funds foreign exchange trading profits rose mln dlrs from mln but bond trading profits dropped mln dlrs from mln fees from trust and other banking services rose mln dlrs from mln year earlier chemical said the provision for loan losses was mln dlrs compared with mln net loan charge offs were mln from mln leaving the allowance for loan losses mln dlrs quarter end pct loans outstanding compared with mln pct year earlier non accruing loans the end march were billion dlrs billion excluding brazil compared with billion the end and billion the end march reuter 
earn	genetics geni sees higher losses genetics institute inc earlier reporting increased first quarter net loss said expects incur losses fiscal that are somewhat higher than those reported fiscal had loss dlrs for fiscal ended november compared fiscal loss dlrs the company said the losses result from its strategic decision invest prudent levels equity development products the company can manufacture and bring market genetics earlier said first quarter ended february losses rose dlrs from year ago loss dlrs reuter 
acq	investor boosts trans lux tlx stake investor albert kahn said statement that group heads increased its stake trans lux corp pct from pct fully diluted basis kahn said indicated filing with the securities and exchange commission that his group bought additional trans lux common shares and dlrs nine pct convertible subordinated debentures due convertible into additional shares kahn said considering seeking representation the trans lux board and starting proxy contest connection with the upcoming annual meeting kahn also said seeking examination the trans lux shareholder list and corporate books and records under delaware law trans lux connecticut concern that leases teleprinters and display units brokerage offices airports and other public places kahn miami insurance executive and investor reuter 
earn	solitron devices inc sod qtr net period ended february shr cts cts net revs mln mln avg shrs year shr cts cts net revs mln mln avg shrs note year after dlr tax provision and dlr tax credit year after dlr credit for anticipated income tax settlement for and dlr tax provision reuter 
earn	trust corp first qtr shr cts cts 
earn	peoples heritage bank phbk qtr net shr cts not given net note net includes securities gains dlrs dlrs company went public december reuter 
earn	stuart hall inc stuh qtr feb net shr cts cts net revs mln mln avg shrs reuter 
earn	clayton homes inc cmh qtr march net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln backlog nine mln six mln note share adjusted for five for four stock split june reuter 
earn	trust corp ustc qtr net shr primary cts cts shr diluted cts cts net avg assets billion billion deposits billion billion reuter 
earn	desptp omc dso qtr net shr cts cts net sales mln mln avg shrs reuter 
earn	park communications inc parc qtr mar shr cts cts net revs mln mln reuter 
earn	federal guarantee corp fdgc qtr net shr cts cts net revs mln mln reuter 
earn	angell care master acr raises quarterly shr cts cts prior pay july record june reuter 
earn	franklin michigan insured sets lower payout mthly div cts cts prior pay april record april note franklin michigan insured tax free income fund reuter 
earn	franklin high yield sets higher payout mthly div eight cts cts prior pay april record april note franklin high yield tax free income fund reuter 
earn	franklin pennsylvania tax free initial payout franklin pennsylvania tax free income fund said its board declared initial monthly dividend six cts per share payable april holders record april reuter 
acq	general partners sells gencorp stake general partners texas partnership that recently ended its bid take over gencorp inc told the securities and exchange commission sold nearly all its remaining pct stake the company general partners said sold shares gencorp april dlrs share open market transaction the new york stock exchange said the sale leaves with gencorp common shares the partnership which includes wagner and brown midland texas and irvine calif based afg industries inc last week dropped its dlr share hostile tender offer reuter 
earn	franklin pennsylvania sets initial payout franklin pennsylvania investors government securities fund fund said its board declared initial monthly dividend cts per share payable april holders record april reuter 
acq	gaf gaf studying borg warner bor plan gaf corp studying agreement under which merrill lynch capital partners will take borg warner corp private billion dlr transaction gaf spokesman said the spokesman had further comment analysts said there was speculation gaf would make new offer for the chicago based plastics and automobile parts company borg warner stock rose above the merrill lynch dlrs per share tender offer price merrill lynch capital partners unit merrill lynch and tendering for pct borg warner and offering package cash and securities for the balance the shares gaf had offered dlrs per share previously holds pct borg warner stock reuter 
earn	national westminster bank usa qtr net rises national westminster bank usa said higher loans and core deposit volumes well substantial increase net interest income contributed pct rise first quarter earnings mln dlrs from mln reported year earlier the earnings gain came despite mln dlr reduction income result placing brazilian loans non accrual net interest income totalled mln dlrs compared with mln dlrs the same period loans mostly middle market businesses increased mln dlrs but some these gains were offset low levels interest rates provision for loan losses rose mln dlrs from mln year earlier march the allowance for loan losses was mln dlrs versus mln end march non accrual loans rose mln dlrs from mln the end the first quarter largely because mln dlrs loans brazil were put non accrual status the bank said that these loans remain non accrual for the remainder the year net income for would reduced about mln dlrs national westminster bank usa wholly owned subsidiary national westminster bank plc reuter 
earn	laser photonics inc lazr qtr dec shr loss cts loss one cts net loss loss revs mln year shr loss cts loss eight cts net loss mln loss revs mln mln reuter 
earn	eastern utilities associates eua ups payout qtly div cts cts prior qtr pay may record may reuter 
acq	mcgraw hill mhp divests south african unit mcgraw hill inc said has sold its mcgraw hill book south africa pty ltd subsidiary local management group for undisclosed amount cash and halted the sale all products and services south africa the company said the divestiture follows resolution its board february that cited increased political and social unrest within south africa and the refusal the south african government abolish the apartheid system reuter 
acq	oak ondustries oak buy electronics firm oak industries inc said agreed buy the stock electronic technologies inc new york for undisclosed amount cash electronic technologies manufactures quartz crystal components oak said said the acquisition part its ongoing stategy restructure its core businesses through cost reduction programs and the purchase compatible companies reuter 
earn	peoples heritage bank phbk qtr net shr cts not given net note includes net securities gains dlrs mln dlrs from company converted stock ownership december reuter 
acq	revlon group agrees merge with macandrews and forbes group for dlrs shr cash 
interest	trust ustc raises broker loan rate trust said raised its broker loan rate pct from pct effective immediately bankers trust which also quotes its broker loan rate publicly raised its rate pct earlier today reuter 
acq	corrected crazy eddie crzy sets rights crazy eddie inc said its board has adopted defensive shareholder rights plan and said has reacived inquiries friendly merger said under the plan shareholders record april will receive right purchase under certain circumstances price dlrs preferred share for each common share held the rights expire april the company said the rights would exercisable business days after party were acquire pct more crazy eddie common stock announce bid for pct more adds dropped year rights expiration reuter 
earn	biotech electronics inc ion qtr net shr eight cts one half net revs mln mln nine mths shr cts cts net revs mln mln note period ended february reuter reuter 
cpi	portuguese consumer prices pct march portugal consumer prices rose pct march after one pct increase february and pct rise march the national statistics institute said the consumer price index base for rose from february and compared with march this gave year year march inflation rate pct against pct february and pct march measured annual average rate inflation march was pct compared with pct february the government forecasts annual inflation about eight pct this year reuter 
earn	myers industries inc mye qtr net shr cts cts net sales mln note per share figures adjusted for ten pct stock dividend paid august reuter 
earn	gte corp qtr shr cts cts 
acq	resdel rsdl merge with san bar sbar resdel industries said and san bar corp has agreed merge san bar into resdel the arrangement calls for san bar spin off assets its break free division shareholders then exchange its own shares for resdel stock ratio one resdel share for each san bar share held resdel said reuter 
acq	midlantic midl acquire county bancorp midlantic corp said agreed acquire county bancorp for about mln dlrs agreement calling for county trust county bancorp subsidiary merge into midlantic national bank north midlantic said will pay dlrs share cash times county bancorp march book value for each county about shares outstanding said received option from three principal shareholders for pct county outstanding the acquisition expected the third quarter and subject regulatory and shareholder approvals reuter 
earn	people savings bank brockton pbkb net assets mln mln note quarter ended march the company completed conversion from mutual stock form october raising mln dlrs net proceeds through the sale mln shares common stock reuter 
earn	micro general corp mgen qtr loss period ended december shr nil loss six cts net loss loss revs avg shrs year shr nil loss cts net profit loss revs avg shrs reuter 
earn	gte corp gte qtr mar shr cts cts net mln mln revs billion billion avg shrs mln mln reuter 
earn	gte posts pre tax loss mln dlrs qtr for pct share sprint 
acq	group raises scandinavia fund scf stake shareholder group consisting foreign investment firms and investors said raised its stake scandinavia fund inc shares pct the total outstanding from shares pct filing with the securities and exchange commission the group also said considering informal offer made scandinavia fund president bjorn carlson march which would grant representation the company board the group includes vbi corp turks and caicos islands investment firm and ingemar rydin industritillbehor swedish investment firm and erik martin vik norwegian investor and vik son alexander the group said vbi and the elder vik bought combined scandinavia fund common shares since march prices ranging from dlrs share reuter 
earn	square corp sqd qtr net shr cts cts net sales mln mln reuter 
crude	triton oil says paris basin reserves pct triton energy corp said proven reserves the villespedue oil field france paris basin were estimated total mln barrels march one pct from mln barrels may triton said its pct owned triton europe plc subsidiary has pct interest the field which located miles east paris the other pct held total exploration the field operator reuter 
earn	talking point ibm ibm international business machines corp has started the year aggressively but industry analysts said the company still faces some tough rounds its fight stop two year earnings slump more impressed with what happening ibm than have been long time said painewebber analyst stephen smith but they not out the woods yet added dlrs share ibm first quarter net income easily topped most estimates wall street which had ranged from even dollar dlrs most analysts said they were pleasantly surprised ibm performance but they indicated that ibm chances for full recovery hinged several key factors whose impact will not felt until later the year these include the success ibm new personal computer line introduced two weeks ago and its minicomputers which will begin volume shipments july addition ibm has said the full benefits its early retirement program and other cost cutting moves will emerge the year progresses analysts noted that ibm chairman john akers was relatively more upbeat assessing the company outlook than has been for nearly year although the worldwide economic situation remains unsettled there are some encouraging signs our business akers said pointing among other things higher first quarter shipments remain optimistic about the prospects for both the industry and ibm said akers was most encouraging said painewebber smith weak dollar lower tax rate and strong mainframe computer sales all contributed the better than expected first quarter results analysts said shipments the mainframes were very strong march after weak january and february said ulric weil washington based weil and associates sales the top the line mainframes commonly called the sierras bailed out the whole quarter weil said adding this continues augers well for the rest the year reuter 
earn	micro mask inc nms qtr mar oper loss oper shr loss cts loss cts oper net loss loss sales six mths oper shr loss cts loss dlrs oper net loss loss sales mln note oper data does not include losses from discontinued operations dlrs three cts per shr qtr and dlrs seven cts per shr six mths reuter 
earn	irving bank qtr net hurt brazil irving bank corp said six pct drop first quarter net income from year earlier was largely the result placing medium and long term loans borrowers brazil and ecuador non accrual status income the first three months fell mln dlrs from mln the same period earnings per share dropped dlrs from irving put mln dlrs brazilian and mln dlrs ecuadorean loans non accrual reducing first quarter net income total mln dlrs after tax irving estimates full year net would reduced mln dlrs after tax cash interest payments are received these loans during the remainder also adversely affecting earnings were losses the trading securities and higher non interest expenses although these were partly offset increased trust income profits from foreign exchange trading and investment securities gains the bank said the allowance for loan losses was mln dlrs from mln year earlier the provision for loan losses was mln versus mln the first quarter reuter 
earn	allegheny western energy algh ups payout qtly div cts six cts prior pay june record may note full name allegheny and western energy corp reuter 
earn	united telecommunications inc qtr shr cts cts 
earn	coast inc qtr net shr profit one loss cts net profit loss sales mln mln avg shrs reuter 
trade	february trade reported new basis the february monthly merchandise trade figures reported tuesday the commerce department will new basis reflecting more recent data avoiding future revisions the monthly figure commerce officials said the overall january deficit billion dlrs will revised but the february figure will final one officials said previously the initial monthly figure has had revised subsequent months because the time lag between the report and the compiling final estimates imports and exports the reporting the february trade data was delayed several weeks permit gathering latest figures imports and exports give clearer picture the monthly trade balance reuter 
acq	revlon rev and macandrews and forbes merge macandrews and forbes group and revlon group inc rev said that they have entered into definitive mergewr agreement where macandrews will acquire revlon dlrs per common share cash macandrews said increased its offer purchase all revlon common shares dlrs share from its april offer dlrs share following consummation the offer unit macandrews will merge into revlon and each remaining share will converted into the right receive dlrs per share cash the companies said revlon said its board directors unanimously approved the merger agreement macandrews and revlon also said they have reached settlement with the plaintiff the pending litigation challenging acquisition the shares macanrews the companies said the tender offer and withdrawal rights will expireon tuesday april unless extended macandrews said will promptly file revised tender offer material with the securities and exchange commission drexel burnham lambert inc acting dealer manager for the offer the companies said revlon currently has about mln shares outstanding the current offer price about mln dlrs company spokesman said from the previous offer mln dlrs april macandrews and forbes owned ronald perelman offered dlrs share for the pct revlon shares did not already own since the offer was made over dozen shareholder lawsuits were brought against revlon alleging the original offer was too low but the companies said these lawsuits have been settled the amended offer reuter 
acq	real estate firm cuts intermagnetics inma stake roland international corp coconut grove fla real estate development company said cut its stake intermagnetics general corp shares pct the total outstanding from shares pct filing with the securities and exchange commission roland said sold shares feb dlrs each long roland stake intermagnetics general below five pct not required report any further dealings the company stock reuter 
earn	first commerce corp fcom qtr net shr cts cts net reuter 
acq	dataproducts dpc buy imaging solutions dataproducts corp said signed letter intent acquire the imaging solutions inc unit reliance electric under undisclosed terms this acquisition will give all rights proprietary solid and liquid ink technologies which had been developed joint venture operated and exxon corp xon dataproducts said said imaging solutions formerly named exxon printing systems inc had been reliance electric subsidiary but reliance recently became independent company the result leveraged buyout from its former owner exxon reuter 
acq	jannock acquires half stake printer jannock ltd said its jannock imaging ltd unit acquired pct stake arthurs jones lithographing ltd toronto for undisclosed terms said the acquisition would lift jannock imaging revenues mln dlrs this year did not specify arthurs jones revenues reuter 
earn	mark industries inc qtr feb net shr cts cts net revs mln mln year shr dlrs cts net mln revs mln mln avg shrs note current periods include gain dlrs qtr and mln dlrs year from changes pension accounting year ago shr figures restated for for splits paid june and january reuter 
acq	electrohome sell unit electrohome ltd said agreed sell certain assets the computer service sector its aabex service division canadian general electric ltd cge terms were not disclosed the closing date expected may reuter 
earn	salick health care inc shci qtr net period ended february shr cts cts net revs six mths shr cts cts net revs mln reuter 
acq	laser photonics inc lazr closes sale laser photonics inc said completed previously announced sale shares pct its common stock group investors for one mln dlrs dlrs loan made the investors was repaid out the proceeds said also said restructured its board include three members designated the investors including pierre schoenheimer roger kirk and leonard lichter reuter 
acq	amsouth bancorp aso sets exchange ratio amsouth bancorp said will issue about shares stock acquire first tuskaloosa corp under previously announced merger agreement amsouth offered dlrs share amsouth stock for first tuskaloosa the company said first tuskaloosa shareholders will receive shares amsouth stock for each first tuskaloosa share held when the merger effected april first tuskaloosa has assets more than mln dlrs amsouth assets are about six billion dlrs reuter 
earn	voplex corp vot qtr mar shr cts cts net revs mln mln reuter 
acq	hadson corp hads completes acquisition hadson corp said completed the acquisition pct the seaxe energy corp seax common stock for shares hadson stock seaxe engaged international oil and gas exploration and development primarily the paris basin france reuter 
acq	arrays aray completes merger arrays inc said completed its merger with haba systems inc terms the merger called for each share arrays exchange for share haba transaction valued mln dlrs the company said both companies produce and market microcomputer software reuter 
earn	franklin massachusetts sets monthly payout mthly div cts cts prior pay april reord april note franklin massachusetts insured tax free income fund reuter 
earn	franklin minnesota sets monthly payout mthly div cts cts prior pay april reord april note franklin minnesota insured tax free income fund reuter 
earn	franklin insured sets monthly payout mthly div cts cts prior pay april reord april note franklin insured tax free income fund reuter 
earn	franklin ohio sets monthly payout mthly div cts cts prior pay april reord april note franklin ohio insured tax free income fund reuter 
earn	franklin puerto rico sets monthly payout mthly div cts cts prior pay april reord april note franklin puerto rico tax free income fund reuter 
earn	franklin california sets monthly payout mthly div cts cts prior pay april reord april note franklin california insured tax free income fund reuter 
acq	canada stocks dome petroleum ltd dmp dome petroleum ltd shares moved higher the and canada after transcanada pipelines ltd trp made billion canadian dlr bid for dome and dome said talks with two other unidentified companies market speculation that the other two potential bidders are not canadian companies and dupont conoco and atlantic richfield arc are mentioned possibilities wilf gobert peters and ltd said dome rose the american stock exchange transcanada pipelines was down the new york stock exchange dome was the most active stock the toronto exchange dlrs per share cts gobert characterized the market action dome awfully optimistic but said investors are hoping for competing offer the shareholders transcanada pipelines offer dome management not shareholders however proposes issuing new equity subsidiary that would operate dome assets current dome shareholders would own pct the new subsidiary reuter 
earn	united telecommunications inc qtr net shr cts cts net revs mln mln avg shrs note per share results reflect payment preferred dividend requirements reuter 
earn	first pennsylvania corp fpa qtr net shr cts cts net avg shrs mln mln note includes gains mln dlrs cts mln dlrs cts from tax loss carryforwards reuter 
acq	clark copy international buys german stake clark copy international corp said acquired majority interest datagraph gmbh lich west germany the acquisition was made through clark copy majority owned subsidiary interactive computer aids norway price was disclosed for the acquisition clark copy said worldwide sales for datagraph which makes color graphics workstations were mln dlrs for the year ended dec reuter 
earn	entre computer centers inc etre qtr loss ended feb shr loss cts profit cts net loss profit revs mln mln six mths shr loss cts profit cts net loss profit revs mln mln reuter 
earn	gte gte cites loss sprint gte corp said the decline its first quarter net income reflects mln dlr loss from its pct share ownership sprint operations this loss increase from the mln dlrs loss reported operations gte owned year ago quarter and prior entering joint venture with united telecommunications july under the joint venture each company owns pct sprint earlier the company reported net income declined mln dlrs from mln dlrs the first quarter year ago theodore brophy chairman gte said expect sprint losses diminish later this year customer traffic migrates the new fiber optic network for long distance telecommunications the reason for the higher losses reflect lower prices well higher operating costs related part the fraudalent use the network operating income its telephone operations which account for pct the total rose eight pct mln dlrs revenues from telephone operations rose eight pct billion dlrs reuter 
earn	new england savings bank nesb qtr net shr cts not given net note converted stock ownership aug reuter 
earn	american national corp fnb qtr net net mln mln loans billion billion deposits billion billion assets billion billion note american national corp wholly owned subsidiary first chicago corp reuter 
earn	astra share split widen foreign ownership astra asts said was proposing two for one share split and the issue june new series foreign targeted shares with lower voting rights part strategy internationalise the company the deal which requires swedish government approval will raise the percentage foreign voting rights allowed the medical group pct from pct astra said extraordinary meeting astra board proposed the creation free shares open foreign buyers with one tenth voting right per share present astra stock consists one series restricted shares and one free shares reuter 
earn	corrected national westminster bank usa qtr net mln mln note national westminster bank plc subsidiary loan loss provision mln mln investment securities gains dlrs dlrs figures dollars corrects name subsidiary from parent reuter 
earn	the one bancorp tone qtr net shr cts cts net avg shrs note includes gains mln dlrs dlrs from benefit tax loss carryforwards includes operations bank hartford acquired feb year ago shr figures reflect for split april reuter 
acq	nor quest nqrlf makes bid for northair nrm nor quest resources inc said will make takeover offer acquire all shares northair mines ltd the basis one nor quest share plus one dlr for two shares northair nor quest said plans bring northair willa mine the nelson area british columbia into production using nor quest recently acquired ton per day mill located the area reuter 
earn	aristech ars says qtr shr estimate right aristech chemical corp chairman and chief executive officer thomas marshall said analysts estimates its fiscal year earnings dlrs dlrs per share are about right addressing gathering analysts and institutional investors marshall also said that analysts estimates its first qtr earnings cts cts per share were the ballpark marshall said the full year estimates represent more than pct increase over fiscal year net dlrs per share also said the first quarter estimates were pct higher than first quarter net cts per share marshall attributibuted the first quarter earnings growth several factors including sustained demand aristech major domestic markets and continued growth exports aristech plans spend approximately mln dlrs over capital investments over the next three years marshall added reuter 
earn	united telecom reports sprint loss united telecommunications inc said its lower first quarter earnings included loss dlrs from its equity sprint sprint was formed july partnership which combined united telecommunications long distance voice and data operations with those gte corp gte earlier united telecommunications reported first quarter earnings mln dlrs cts share compared mln dlrs cts share year ago revenues declined mln dlrs from mln dlrs united telecommunications said the transition sprint nationwide fiberoptic network proceeding ahead schedule said the transition the fiber network from interim networks would not only reduce operating costs the second half but also assist controlling unauthorized network use reuter 
nat-gas	canada approves gas exports progas progas ltd was issued export licence sell billion cubic meters natural gas ocean state power burrillville rhode island the federal energy department said the sale covering year period beginning may was previously recommended the national energy board contract terms were not released reuter 
earn	brand companies bran sees first quarter loss brand companies inc said expects report first quarter loss cts share revenues mln dlrs the first quarter brand reported earnings cts revenues mln dlrs reason was given for the expected loss final quarterly results will reported toward the end the month the beginning may company spokesman said reuter 
trade	february trade reported new basis the february monthly merchandise trade figures reported tuesday the commerce department will new basis reflecting more recent data avoiding future revisions the monthly figure commerce officials said the overall january deficit billion dlrs will revised but the february figure will final one officials said previously the initial monthly figure has had revised subsequent months because the time lag between the report and the compiling final estimates imports and exports the reporting the february trade data was delayed several weeks permit gathering latest figures imports and exports give clearer picture the monthly trade balance reuter 
acq	boothe bcmp makes acquisition boothe financial corp diversified holding company said has acquired the robert half and accountemps franchises new england including four offices boston and eastern massachusetts and one office providence boothe said previously announced the purchase robert half international inc the franchisor the robert half and accountemps offices the the company said the aggregate purchase price paid for robert half international and the franchises was about mln dlrs reuter 
acq	atlantic financial atlf acquire and atlantic financial said signed definitive agreement acquire centurion savings and loan association atlantic did not disclose the purchase price atlantic said originally announced its intention acquire centurion located los angeles feb centurion has assets mln dlrs atlantic said reuter 
acq	gaf gaf seen raising borg warner bor bid gaf corp set acquiring borg warner corp valuable plastics business believed analysts preparing increased offer for the chicago based company yesterday borg warner said agreed acquired for billion dlrs company formed merrill lynch capital partners merrill offered dlrs cash per share for pct borg warner common stock and package cash and securities for the balance borg warner stock rose think the stock price telling gaf coming with another bid said one analyst who values the company dlrs per share gaf has offered dlrs per share holds pct borg warner stock you cat and mouse game how you going the price obviously nobody wants pay more than you have think gaf looking the company the way looking that worth more pershing and analyst richard henderson said henderson estimated worth abouth dlrs per share gaf has only said was reviewing the situation merrill lynch officials did not return phone calls analysts have said they believe gaf chairman samuel heyman sought borg warner because its chemicals and plastics business the rigid plastics are used such things telephones computer terminals and appliances where the heck can you buy world class chemical operation these days said henderson heyman got the bucks heavy hitter and does not like get pushed around said henderson gaf roofing and chemicals concern attempted takeover the much larger union carbide corp two years ago while gaf did not win the company made substantial gain its investment carbide analysts said gaf already has large profit built into its borg warner holdings they said even gaf raises its offer and does not succeed higher bid from another company would give gaf millions dollars profits its stock win win situation said one analyst one analyst speculated offer from gaf would forthcoming shortly think are finally down the final paragraph this book said borg warner other businesses include automotive parts protective services which includes wells fargo security guards and chilton corp credit rating service charles rose oppenheimer and analyst who follows gaf said gaf were sell into the merrill lynch offer would realize about mln dlrs net profit about per share think there probability goes price said rose rose said however could not really predict what heyman would sam low risk high return player trying build major industrial chemical enterprise trying investment bank rose said analysts said borg warner chemical business would add earnings momentum gaf worked out that paying much dlrs per share would still additive gaf time they sold off most the non chemical facilities said john henry hutton borg warner chemical and plastics business provided operating profits mln dlrs revenues billion dlrs total operating profits were mln dlrs and net earnings were mln dlrs for the borg chemical business great said rose adding its only competitors are monsanto mct and dow chemical dow reuter 
earn	pueblo international inc pii sets payout qtly div five cts five cts prior pay june two record april reuter 
acq	gen term corp acquires private firm gen term corp said entered into escrow for the mln dlr purchase lewis westco and privately held bottler and distributor wines and distilled spirits lewis westco had sales more than mln dlrs for its fiscal year ended june gen term also said separately gen term which trades over the counter said plans apply for nasdaq listing after completes the acquisition reuter 
earn	and clothiers inc jan year net shr dlrs cts net sales mln mln reuter 
acq	ccx network ccxn make acquisition ccx network inc said has entered into letter intent acquire privately held modern mailers inc and its affiliate anwalt inc for about dlrs common stock the company said modern mailers had revenues dlrs for the year ended october and provides computer service computer printing and lettershop facilities reuter 
earn	personal computer products pcpi expects loss personal computer products inc said expects report loss about dlrs its third quarter ended march compared year ago loss the quarter dlrs said revenues the quarter are expected about dlrs compared dlrs year earlier for the nine months ended march personal computer expects net loss about dlrs compared loss dlrs the previous year revenues the nine months are expected about dlrs compared year ago the company said will report its earnings soon reuter 
earn	great northern nekoosa first qtr shr dlrs cts 
acq	gander gndr buys western wear retailer gander mountain inc said acquired the privately held western ranchman outfitters catalog and point purchase retailer western apparel based cheyenne wyo said western ranchman had sales for the year ended jan about mln dlrs the purchase was made for undisclosed amount cast reuter 
earn	great northern nekoosa gnn qtr net shr dlrs cts net mln mln revs mln mln avg shrs mln mln note figures restated for adoption financial accounting standards board statement employer accounting for pensions net and includes dlrs investment tax credits and mln dlrs reuter 
earn	american health properties inc ahe qtr shr cts net revs note company began operating february reuter 
earn	wells fargo and qtr shr dlrs dlrs 
earn	wells fargo and wfc qtr net shr dlrs dlrs net mln mln avg shrs loans billion billion deposits billion billion assets billion billion reuter 
earn	comerica inc cmca qtr net shr dlrs dlrs shr diluted dlrs dlrs net avg shrs loans mln mln deposits billion billion assets billion billion note per share results reflect payment preferred dividends reuter 
earn	champion products sets pay date for split champion products inc said the two for one stock split declared february will payable april shareholders record april one reuter 
earn	spearhead industries inc sprh qtr net periods ended feb shr cts cts net sales mln nine mln avg shrs nine mths shr cts cts net sales mln mln avg shrs reuter 
earn	kdi corp kdi qtr march shr cts six cts net mln revs mln mln reuter 
acq	nabisco rjr unit sells cigar business rjr nabisco inc reynolds tobacco usa unit said reached definitive agreement sell winchester little cigar business tobacco exporters international usa ltd atlanta the subsidiary rothman international plc terms were not disclosed last week reynolds announced the sale four smoking tobacco brands these brands and winchester represent less than one pct reynolds tobacco usa total sales which were billion dlrs reynolds said the sale expected completed april the company said planned concentrate its resources the manufacture and sale cigarettes reynolds said that winchester introduced was dominant brand the little cigar market reuter 
earn	software services america inc ssoa net qtr feb shr profit cts loss four cts net profit loss revs nine mths shr profit cts profit two cts net profit profit revs reuter 
acq	gander mountain gndr buys western wear firm gander mountain inc said acquired privately held western ranchman outfitters cheyenne wyo retailer and catalog seller western apparel terms were not disclosed western ranchman had sales about mln dlrs for the year ended jan the company said gander mountain sells brand name hunting fishing and outdoor gear through catalogs reuter 
earn	health and rehabilitation hrp sets first divi health and rehabilitation properties trust said declared its initial dividend cts per share for the quarter ending march the dividend payable may shareholders record april said the dividend includes five cts attributable the period between dec and and cts attributable the first quarter ending march reuter 
earn	utah power and light utp qtr net shr cts cts net mln mln revs mln mln avg shrs mln mln mths shr dlrs dlrs net mln mln revs mln billion avg shrs mln mln note mth net includes mln dlr charge due december provision for coal mining operations refund reuter 
acq	ericsson ericy buy rest spanish unit ericsson sweden said agreed principle buy the pct intelsa its spanish unit that does not already own from telefonica spain telecommunications administration terms the agreement were not disclosed ericsson said intelsa which controls about pct the spanish telephone switch market has employees and annual sales mln crowns mln dlrs the purchase will not affect the close working relationship between telefonica and intelsa ericsson said reuter 
earn	computrac llb sees lower first quarter net computrac inc said expects first quarter earnings down pct from year ago last year first quarter ended april computrac earned dlrs revenues mln dlrs the company said sales commitments hand are about pct above those year ago but system sales revenues are recognized shipment and only pct sales commitments hand will ship during the period said its outlook for the year remains unchanged reuter 
acq	nova nva not planning dome dmp bid nova alberta corp chief executive robert blair expressed hope that dome petroleum ltd dmp remains under canadian ownership but added that his company plans bid its own for debt troubled dome plan bid blair told reporters after speech business group although stressed that nova and pct owned husky oil ltd hyo were interested dome extensive western canadian energy holdings but being interested can sometimes different from making bid blair said transcanada pipelines ltd trp yesterday bid billion dlrs for dome but dome said was discontinuing talks with transcanada and was considering proposal from another company and was also talking with another possible buyer both rumored offshore asked reporters dome should remain canadian hands blair replied yes think that still need building much canadian position this industry can and think would best dome ends the hands canadian management said did not know who other possible bidders were blair said that any move put dome financial house order will remove one the general problems attitude that have hung over western canadian industry added however that the energy industry still faced couple tough tough additional years asked about nova prospects blair predicted that nova net profit would rise this year more than mln dlrs from last year net profit mln dlrs due improved product prices and continued cost cutting reuter 
gas	exxon xon extends mid grade unleaded marketing exxon said expanding marketing its mid grade unleaded gasoline along the east coast the exxon corp subsidiary said the changeover the octane unleaded fuel will begin late this month and early next major markets virginia maryland florida and the district columbia the product was introduced new york new jersey delaware connecticut rhode island massachusetts new hampshire and the philadelphia area late last year reuter 
acq	first montauk securities merger deal first montauk securities corp said has reached preliminary merger agreement with mcc presidential inc the company said mcc shareholders would have pct stake the combined company and would receive cash distribution about cts per share reuter 
earn	barnett banks florida inc bbf qtr net shr cts cts net mln mln avg shrs mln mln reuter 
earn	golden west financial corp gdw qtr net shr dlrs dlrs net loans billion billion deposits billion billion assets billion billion note current qtr figures include mln dlr charge resulting from penalties for prepayment fhlb borrowings reuter 
earn	honeywell inc hon qtr oper net oper shr cts cts oper net mln mln sales billion billion note sales includes operations sperry aerospace operating net excludes charge from discontinued operations mln dlrs cts share reuter 
earn	wall street stocks browning ferris bfi the environmental protection agency five mln dlr suit against browning ferris industries inc bfi unit cecos international inc caused the stock drop today analysts said the stock has fallen far today after the news about the suit was released this morning potentially big suit and investors feel that its not good against regulators kenneth leung smith barney analyst said what investors are actually saying selling off some bfi shares the cloud over this industry the threat that the epa will get tough waste management companies willard brown senior analyst for first albany corp investors are saying themselves that waste management companies have that kind exposure regulatory suits brown said brown said the suit were settled for mln dlrs would have impact browning ferris earnings leung said however that browning ferris has adequate cash reserves cover the fine would have impact earnings whatsoever said reuter 
gold	homestake mulls buying ore reserves homestake mining considering acquiring more gold ore reserves addition the company exploration efforts chief executive harry conger told reuters interview are looking more options acquire more reserves rather than just exploration conger said adding the move consider acquisitions represents change the company acquisitions policy conger said all homestake current cash position mln dlrs would available acquire reserves addition homestake has two lines credit totaling mln dlrs which have not been drawn today and could used finance acquisition said conger said anticipates exploration budget will about the same spending mln dlrs conger said exploration for precious metals may slightly higher than last year spending mln dlrs while oil and gas exploration spending will slightly less than last year pct conger said sees homestake gold production about the same gold production ounces however first quarter production from its mclaughlin reserve will about pct lower than last year ounces due start production problems said believes gold prices will hold above the dlr ounce level for the rest company earnings were based average market price for gold dlrs ounce conger said three pct change gold prices represents cts share impact earnings but declined give specific forecast for first quarter due released days for full year results reuter 
earn	chronar corp crnr year loss shr loss cts loss nine cts net loss loss revs mln mln avg shrs note net includes dlrs increased provisions for uncollectible receivables from affiliates lower recoverable value inventories and writeoffs capitalized costs discontinued projects dlr provision for resolution shareholder class action suit and gain dlrs from repurchase manufacturing equipment reuter 
acq	empire empa buy sobeys sysa stock empire ltd said will acquire all shares sobeys stores ltd does not already own under arrangement approved directors both companies holders sobeys class non voting shares and class common shares may elect receive either non voting class empire shares one non voting class empire share and one half eight pct redeemable retractable preferred share the preferred share has par value dlrs and retractable the holder option may reuter 
earn	international research irdv qtr net shr six cts three cts net revs note international research and development corp full name company reuter 
acq	corrected goodyear sell celeron goodyear tire and rubber said expects sell its celeron corp oil and gas subsidiary for about two billion dlrs about two months after the company annual meeting rober mercer goodyear chairman and chief executive officer also said goodyear expects report profit more than one dlr share from continuing operations the first quarter the same year ago period goodyear reported loss cents share from continuing operations mercer said about seven companies are interested buying celeron and they may form consortium buy the unit reuter 
earn	int research development irdv qtr net shr six cts three cts net revs note full name international research and development corp reuter 
earn	bank new england corp qtr shr dlrs cts 
earn	honeywell hon cites cost cutting for gain honeywell inc said gain pct its first quarter operating earnings was the result cost cutting efforts which began last year honeywell reported first quarter operating earnings rose mln dlrs cts share from mln dlrs cts the same period year ago better operating results each the company three sectors offset higher interest costs the first quarter due financing the december acquisition sperry aerospace and the sharing the federal systems subsidiary pre tax profit with honeywell bull inc honeywell said our first quarter results show clear benefits our restructuring chairman edson spencer said all our businesses are producing better results than last year even though not see significant improvement the external market environment said total orders the first quarter were substantially with sharp increase aerospace and defense orders addition those the new sperry aerospace group said domestic industrial automation and control orders were modestly higher than the same period said orders honeywell home and building automation and control business were flat the and international markets said international orders increased with the greatest strength europe honeywell said the company said that year end intends complete the repurchase mln shares remaining five mln share buyback program which began reuter 
earn	mgm communications mgm qtr feb loss shr loss cts net loss mln profit mln revs mln mln six mths shr loss cts net loss mln profit mln revs mln mln note company said year ago per share not given not comparable due certain allocations expenses from the turner entertainment group not made subsequent periods results reflect the tbs merger agreement and operations the company independent agent data includes extraordinary tax loss carryforward gains dlrs qtr and six mths reuter 
gold	homestake mulls buying ore reserves homestake mining considering acquiring more gold ore reserves addition the company exploration efforts chief executive harry conger told reuters interview conger said the move consider acquisitions represents change the company acquistions policy conger said all homestake current cash position mln dlrs would available acquire reserves addition homestake has two lines credit totaling mln dlrs which have not been drawn and could used finance acquisition said conger said anticipates exploration budget will about the same spending mln dlrs conger said exploration for precious metals may slightly higher than last year spending mln dlrs while oil and gas exploration spending will slightly less than last year pct conger said sees homestake gold production about the same gold production ounces however first quarter production from its mclaughlin reserve will about pct lower than last year ounces due start production problems said believes gold prices will hold above the dlr ounce level for the rest reuter 
earn	interfirst corp qtr loss cts profit three cts 
crude	kuwaiti daily says opec credibility stake opec credibility faces fresh scrutiny coming weeks amid signs significant rise supplies oil international oil markets the kuwait daily qabas said article headlined gulf oil sources say middle east production mln bpd warned opec official prices could face fresh pressure from international oil companies seeking cheaper supplies did not say whether only opec both opec and other producers were behind the reported rise mideast output nor did specify the sources were official other contacts the sources said the credibility opec would come under fresh scrutiny from today monday with activity the european and american markets the daily said the sources were quoted saying that after opec had march demonstrated its commitment quota agreements some members had raised output last week gave details dealers oil markets were now waiting see opec was able control production whether the days cheating and producing over quotas has begun anew said the sources warned that maybe the price barrel oil will fall below perhaps dlrs this week next there control supplies said the sources believed return oil below dlrs barrel may open the doors for international oil companies pressure opec over contract prices similar the struggle last march said apparently referring resistance buyers lift from qatar unless gave price discounts more than one official has warned opec would find its solidarity under scrutiny the end april start may said noting demand usually fell with the onset summer reuter 
earn	willamette industries wmtt qtr net shr cts cts net mln sales mln mln note per share figures reflect april five three stock split full year figures not available reuter 
earn	marine midland banks inc qtr dlrs dlrs 
earn	american century act restates earnings american century corp said has restated its earnings for the fiscal year ended june provide additional five mln dlrs its loan loss allowance causing restated year end net loss dlrs instead dlrs the company said the change came after talks with the securities and exchange commission the company judgement considering the five mln dlrs collectible the note its financial statement american century said considered the five mln dlrs collectible making its loan loss provision less than required the company said spite the sec decision still feels its allowance for possible loan losses june was adequate and that has considered all relevant information determine the collectibility the five mln dlr receivable but said continued disagreement with the sec staff would not its best interest reuter 
earn	interfirst corp ifg qtr loss shr loss cts profit three cts net loss mln profit mln assets billion billion deposits billion billion loans billion billion note net includes securities gains mln mln net charge offs totaled mln mln while provisions for loan losses was mln mln non performing assets totaled billion mln reuter 
earn	marine midland banks inc qtr net shr dlrs dlrs net mln mln assets billion billion deposits billion billion loans billion billion note qtr includes pre tax provision mln dlrs resulting mln dlrs after tax loss for reserve against interest due medium and long term brazilian loans net investment gains for the qtr were mln dlrs versus gain mln last year first quarter provision for loan losses the quarter was mln dlrs mln dlrs the prior first quarter reuter 
acq	fourth national corp stake acquired fourth national corp said investor group led management has acquired pct stake the company from interfirst corp ifc dallas bank holding firm fourth national spokesman said the deal was for cash but would not disclose the amount fourth national bank holding company with about mln dlrs assets said statement that will continue operate its four subsidiaries and retain its employees reuter 
acq	del webb wbb unit sells joint venture stake del webb corp said its del webb properties corp unit sold one half its interest the acre towne meadows mixed use development near mesa and gilbert ariz klukwan inc alaskan native cooperative terms the sale were not disclosed webb said had one half interest the venture reuter 
earn	bank new england corp bkne qtr shr dlrs cts net mln mln reuter 
earn	canandaigua wine inc cdg qtr net qtr ended feb shr cts cts net revs mln mln six mths shr cts cts net revs mln mln reuter 
earn	national city corp qtr shr primary cts cts 
orange	trade panel rules against brazilian orange juice imports will impose dutues 
earn	florida progress corp fpc qtr net shr cts cts net mln mln revs mln avg shrs mln mln months shr dlrs dlrs net mln mln revs billion billion avg shrs mln note first quarter profits restated down one cent share result previously reported pooling interests merger with mid continent life insurance reuter 
orange	agency rules against brazil orange juice the international trade commission itc voted authorize the commerce department impose anti dumping duties imports brazilian frozen concentrated orange juice the itc voted favor the anti dumping petition its final ruling the matter today itc ruling was consistent with the commerce department final ruling march and activates anti dumping duty pct imports brazilian frozen concentrated orange juice stephen vastagh itc investigator said the itc found that brazilian orange juice imports have injured producers the commerce department had already ruled that the imports were unfairly priced and lowered pct the anti dumping margin that preliminary decision last fall had been set pct vastagh said the government has been requiring bond posted imports brazilian frozen concentrated orange juice since commerce preliminary ruling last october said commerce had ruled that one major brazilian producer cutrale would excluded from the anti dumping duty brazilian imports account for about pct total supply vastagh said between december and november the united states imported the equivalent mln gallons brazilian orange juice worth mln dlrs said currently the united states requires cent per gallon tariff orange juice imports vastagh said itc spokesman said the agency would forward its final report the anti dumping case commerce april commerce then will process the anti dumping order and transmit customs which will liquidate bond entries dating from commerce preliminary ruling and begin assessing duties vastagh said said about brazilian orange juice exporters including three major shippers would affected the decision reuter 
earn	national city bancorp ncbm qtr net shr cts cts net reuter 
earn	oneok inc oke qtr feb net shr dlrs dlrs net mln mln revs mln mln mths shr dlrs dlrs net mln mln revs mln mln note company reports earnings qtrly and includes the previous mths figures reuter 
crude	texaco says some oil flows established texaco inc has established some key oil supply lines following yesterday court filing for protection under chapter the bankrupcty code said elton yates texaco coordinator worldwide operations several companies say they are willing start trading yates told reuters interview the company last week had stated that number domestic and international oil suppliers were demanding cash for oil shipments and some cases had cut supplies altogether banks had also cut credit lines said court filings manufacturers hanover corp mhc and other banks told texaco would cut off one billion dlr credit line texaco said the court filing chase manhattan corp cmb and morgan jpm morgan guaranty trust asked for deposits cover transactions said the severe conditions with suppliers and creditors arose from unfavorable ruling last monday the supreme court texaco ongoing dispute with pennzoil pzl over the acquisition getty oil the high court said texas courts must consider texaco plea cut its billion dlr bond while appealing the case most the suppliers stayed with long they could elton said but following monday supreme court ruling texaco suppliers began demanding cash and halting supplies wasn until last wednesday that turned into avalanche said supplies were cut the point where could not run the system anywhere near capacity said less than half texaco oil supplies had been jeapordy but the cut off would have produced severe shortages mid may now the situation appears much less severe elton said said that sonatrach the algerian national oil company canceled future deliveries crude oil and natural gas occidental petroleum oxy demanded cash for crude and atlantic richfield arc asked for special safeguards the company also said british petroleum plc last week refused accept order for fuel oil but yates today said big company has fact said they would supplying they had cancelled last week declined identify the company petroleos venezuela the venezuelan state oil company that supplies large portion texaco oil also halted shipments two weeks ago yates said but added that texaco expected meet with the venezuelans later today attempt reestablish that key supply line talks were also expected take place with the algerians added bankruptcy specialists said was likely texaco chapter filing would allow the company secure its credit lines and oil supplies that are key the company business will business usual for texaco said martin klein bankruptcy attorney the new york law firm dreyer and traub creditors are nervous bunch people said but when the dust settles they will reevaluate the situation and will likely extend credit the chapter company but other officials texaco were not immediately available say whether discussions were being held with its banks whether credit lines had been reestablished reuter 
earn	national city bancorp ncbm pct dividend national city bancorp said directors the annual meeting declared pct stock dividend payable may record april reuter 
earn	flagler bank corp flgla qtr net shr cts cts net assets mln mln deposits mln mln loans mln mln note per share amounts adjusted for stock dividends reuter 
earn	national city corp ncty qtr net shr primary cts cts shr diluted cts cts net mln mln avg shrs mln mln assets billion billion deposits billion billion loans billion billion return assets pct pct note net includes securities gains seven cts shr two cts net includes loan loss provision mln mln net charge offs totaled mln brining the loan loss reserve the end the qtr mln reuter 
earn	bank new england bkne post pro forma net bank new england corp reported that pro forma first quarter earnings which reflect its combined operations under pending merger with the conifer group rose mln dlrs cts share from mln dlrs cts share the merger expected close april earlier bank new england reported first quarter net income not taking the merger into account rose dlrs from cts share note first quarter does not include restatement from recent acquisitions after restatement net income was mln dlrs the pro forma first quarter results include nonrecurring merger expenses mln dlrs excluding these expenses growth operating expenses the combined companies was reduced from pct pct during the first quarter loans and leases increased pct billion dlrs and deposits grew pct billion dlrs the provision for possible credit losses was mln dlrs the first quarter compared with mln dlrs last year net charge offs were mln dlrs down from mln dlrs reuter 
earn	burnham american propoerties bapyz qtr qtr ended march net revs six mths net revs note per share data not given not comparable net figures which are before depreciation reuter 
acq	canada wilson has comment dome dmp finance minister michael wilson said was too early comment the tax implications transcanada pipelines ltd billion dlr offer for dome petroleum ltd the specific offer transcanada just the course being made and don have the details all the elements the proposal wilson told the house commons daily question period opposition parties were questioning wilson about possible loss tax revenue the takeover was completed because the large tax credits held dome reuter 
acq	dauphin deposit dapn acquire colonial dauphin deposit corp said signed definitive agreement acquire colonial bancorp inc the agreement calls for colonial merged into dauphin deposit corp and colonial subsidiary new holland farmers national bank merged into dauphin deposit bank and trust the lead bank dauphin deposit corp the company said shareholders colonial will receive between and shares dauphin common stock for each share colonial depending dauphin current market value said dec colonia bancorp had assets mln dlrs dauphin said reuter 
crude	kuwaiti daily says opec credibility stake opec credibility faces fresh scrutiny coming weeks amid signs significant rise supplies oil international oil markets the kuwait daily qabas said article headlined gulf oil sources say middle east production mln bpd and markets witness new surplus amid whispers return cheating days warned opec official prices could face fresh pressure from international oil companies seeking cheaper supplies did not say whether only opec opec and other producers were behind the reported rise mideast output nor did specify the sources were official other contacts the sources said the credibility opec would come under fresh scrutiny from monday with activity the european and american markets said the sources were quoted saying that after opec had march demonstrated its commitment quota agreements some members had raised output last week gave details dealers oil markets were now waiting see opec was able control production whether the days cheating and producing over quotas has begun anew reported the sources warned that maybe the price barrel oil will fall below perhaps dlrs this week next there control supplies the sources believed return oil below dlrs barrel may open the doors for international oil companies pressure opec over contract prices similar the struggle last march said apparently referring resistance buyers lift from qatar unless gave price discounts more than one official has warned opec would find its solidarity under scrutiny the end april start may said noting demand usually fell with the onset summer reuter 
money-supply	treasury balances fed fell april treasury balances the federal reserve fell april billion dlrs from billion dlrs the previous business day the treasury said its latest budget statement balances tax and loan note accounts fell billion dlrs from billion dlrs the same respective days the treasury operating cash balance totaled billion dlrs compared with billion dlrs april reuter 
crude	doe resolves issues with royal dutch unit the energy department said had approved final form agreement that resolves all remaining issues with shell oil over oil pricing and allocation controls that ended under the agreement the royal dutch shell group unit agreed pay mln dlrs settle refiner pricing issues and mln dlrs settle crude oil pricing issues doe said doe said that before making the pact final modified reflect shell compliance with the tertiary incentive program provision not the version published last dec reuter 
acq	cellular communications comm closes buyout cellular communications inc said that unit purchased pct interest the cincinnati non wireline cellular system result the transaction the company said now owns pct the system cincinnati reuter 
earn	athlone industries inc ath sets qtly dividend qtly div cts cts prior pay may record may one reuter 
earn	first federal savings bank ffsd qtr net qtr ended march shr cts net six mths shr dlrs net note bank went public dec reuter 
earn	plantronics inc plx qtr march net shr cts cts net sales mln mln nine mths shr dlrs dlrs net sales mln mln note current qtr and nine mth net include dlr gain asset sales prior nine mth net includes mln dlr asset sale gain reuter 
acq	gaf gaf seeks information borg warner bor gaf corp said exploring its options response merrill lynch capital partners billion dlr offer for borg warner corp and has asked for all information that was supplied merrill lynch gaf spokesman said the company asked for the information order enable gaf fully evaluate its alternatives the spokesman also confirmed that gaf did raise its bid dlrs cash from dlrs per share friday merrill offering dlrs per share cash for pct borg warner and package cash and securities for the balance the transaction with merrill lynch will take borg warner private the form leveraged buyout merrill lynch does not intend sell borg warner assets but may forced financing the deal said sources familiar with the transaction borg warner has said its management not participant the transaction but managers will retain their positions the investors involved with merrill include pension funds insurance companies and other institutional investors sources said analysts believe gaf which owns pct borg warner will raise its offer that speculation drove borg warner stock heavy trading gaf closed off reuter 
crude	abu dhabi marketing said not breaching opec pact senior abu dhabi oil official said remarks published today the emirate largest producer the united arab emirates uae was succeeding marketing its crude oil without breaching opec accords khalaf oteiba marketing director the abu dhabi national oil adnoc told the company petroleum community magazine adnoc was also keen keep good customer relations the company will maintain its dialogue with and care for its customers accordance with market conditions and take necessary steps guarantee marketing its production said the present oil marketing policy adnoc based adherence opec decisions december control production and establish new pricing system attempt stabilize the market added opec agreed last december limit production mln bpd and return fixed prices averaging dlrs barrel oteiba said stabilization the oil market the future depended how much discipline opec showed oteiba said last year when world oil prices dropped was adnoc most difficult ever but practical and flexible pricing policy was implemented relate the changed market environment said crude oil sales last year jumped average bpd which pct was exported refined product sales totalled eight mln metric tonnes which pct was exported adnoc marketed total bpd crude oil and mln tonnes refined products reuter 
earn	rhnb corp rhnb qtr net shr cts cts net loans mln mln deposits mln mln assets mln mln reuter 
acq	kraft kra completes acquisition kraft inc said completed the acquisition holleb and foodservice distributor based bensenville ill terms were withheld said holleb sales were about mln dlrs reuter 
earn	first america bank inc fabk qtr net shr dlrs dlrs net avg shrs loans billion billion deposits billion billion assets billion billion reuter 
earn	lomak petroleum inc lomk year loss shr loss cts loss cts net loss loss revs mln mln acg shrs mln mln reuter 
acq	newmont nem stake pont declines newmont mining corp held pont shares about pct those outstanding the end down from the shares pct those outstanding held year earlier newmont annual report said corrects march item show holdings decreased reuter 
earn	bankeast corp benh qtr net shr cts cts net assets billion mln deposits mlnvs mln loans mln mln note results restated reflect acquisition united banks corp reuter 
earn	ust corp utsb qtr net shr cts cts net assets billion billion deposits billion billion note results restated reflect pct stock dividend reuter 
earn	central ill public service cip qtr net shr cts cts net revs mln mln note full name central illinois public service per share results reflect payment preferred dividends reuter 
acq	thera care inc acquire cushing thera care inc said agreed acquire cushing and associates glendale calif exchange for thera care shares reuter 
acq	interco iss completes lane lane acquisition interco inc said its shareholders and those lane approved merger the two companies special meetings previously announced lane shareholders will receive shares interco common stock for each share lane stock held interco said the merger becomes effective april reuter 
acq	hmo america hmoa agrees acquired hmo america inc said signed letter intent with mount sinai medical center here and affiliate providing that all its common and preferred stock acquired new not for profit company controlled mount sinai and other chicago area not for profit hospitals who may elect participate the acquisition the form the transaction has not yet been determined said according terms hmo shareholders would receive combination cash and debt securities issued the buyer exchange for their outstanding shares common and preferred stock said the amount cash per share has not yet been determined added arrangements for financing have not yet been made and there can assurance that any financing will received hmo said closing the proposed transaction completed expected before november said reuter 
earn	everest and jennings qtly dividend shr five cts five cts prior qtr pay may record april reuter 
earn	group inc psg qtly dividend shr cts cts prior qtr pay may record april reuter 
acq	dome dmp benefits from takeover speculation shares dome petroleum ltd posted their biggest gain months the and canada stock markets foresaw takeover tug war beginning for the debt heavy company dome rose the american stock exchange and gained cents canadian dlrs the toronto stock exchange where was the most active stock rose high dlrs toronto during the day recent months dome has normally moved only few cents per day transcanada pipelines yesterday announced billion dlr canadian billion bid for all dome assets but dome which based calgary alberta said also still talking with two other companies which refuses identify market analysts today said the other two firms are believed foreign oil companies noting that transcanada yesterday stressed that its bid canadian solution the financial difficulties dome petroleum the talk about conoco which controlled dupont and atlantic richfield arc which sold its canadian interest and could getting back said wilf gobert peters and ltd david bryson moss lawson and also noted that british petroleum plc mentioned possible buyer despite dlr per share bid two weeks ago for the percent standard oil srd does not already own calgary based independent analyst james hamilton has said recent reports that amoco corp has also been talks with dome representatives atlantic richfield british petroleum conoco and amoco were not immediately available for comment gobert characterized the market action dome today awfully optimistic given transcanada offer give current dome shareholders stock new subsidiary which valued dlrs canadian per common share under the offer current dome common and preferred shareholders would own pct the new subsidiary which would own and operate all dome former assets transcanada would own pct however bryson said the market may looking the potential for shares publicly traded subsidiary the transcanada offer has quite bit upside potential for dome said gobert said believes the transcanada offer the upper end what thought somebody would pay for dome the transcanada proposal would pay dome creditors billion canadian dlrs billion dlrs with another one billion canadian dlrs mln dlrs available secured creditors the dome subsidiary earns profits above certain level transcanada would not detail the profit level dome currently seeking restructure about six billion canadian dlrs billion dlrs debt which took several years ago when oil prices were high and the company wanted expand there has been speculation that dome assets are capable supporting debt three four billion dlrs that basis the transcanada offer would the upper end that gobert said dome debt troubles have often obscured the fact that major player the canadian oil and gas field holds reserves about mln barrels crude oil and billion cubic feet natural gas the company also owns has interest mln acres oil and gas exploration land the province alberta the heart canada oil industry dome owns has interest total mln acres land across canada the company also has tax credits about billion dlrs canadian billion dlrs reported loss billion dlrs billion dlrs believed the largest ever canadian company reuter 
interest	bill auction rates average pct the treasury said its weekly auction three month bills produced average rate pct with pct rate six month bills these rates compared with averages pct for the three and pct for the six month bills sold last week the bond equivalent yield three month bills was pct accepted bids ranges from pct and pct the bids the high stopout rate were taken for six months the yield was pct and the bids ranged from pct pct with pct the bids accepted the treasury said received billion dlrs bids for the three month bills including billion dlrs non competitive bids from the public accepted billion dlrs bids including billion dlrs from the federal reserve and mln dlrs from foreign and international monetary authorities some billion dlrs bids for six month bills were received including mln dlrs non competitives the treasury accepted billion dlrs including billion dlrs from the fed and billion dlrs from foreign and international authorities the average price for the three month bills was and prices ranged from the average price for the six months bills was and prices ranged from the average yield the three month bills was the highest since pct june the average yield the six month bills was the highest since pct june reuter 
acq	group raises computer memories cmin stake shareholder group led far hills investor natalie koether said raised its stake computer memories inc shares pct the total outstanding from shares pct filing with the securities and exchange commission the group which includes sun equities corp investment firm said bought net computer memories common shares since march prices ranging from three dlrs share for capital appreciation the group had earlier abandoned plans seek control the company and lowered its stake less than five pct reuter 
acq	hong kong firm has pct mcgill mgll industrial equity pacific ltd told the securities and exchange commission has acquired shares mcgill manufacturing inc pct the total outstanding common stock industrial equity which principally owned brierley investments ltd publicly held new zealand firm said bought the stake for mln dlrs for investment purposes said may add its stake sell some all but has plans seek control the company reuter 
earn	montgomery street income mts qtr net shr cts cts net note full name montgomery street income securities inc reuter 
acq	northair nrm opposing norquest nqrlf bid northair mines ltd said would oppose nor quest resources inc earlier reported proposed takeover bid with every means its disposal saying this attempt property grab insult the intelligence our shareholders said nor quest offer swap one nor quest share plus one dlr for two northair shares would seriously dilute northair equity its willa mine british columbia our company sound financial position and production financing can readily arranged when required not looking for partner and were certainly wouldn these guys northair said reuter 
acq	texas air tex unit completes system sale texas air corp eastern airlines said completed its previously announced plan sell its travel agency automation system systemone direct access inc and its computer and communications support unit eal automation systems inc systemone corp wholly owned subsidiary texas air corp reuter 
earn	ncnb corp ncb qtr net shr cts cts net mln mln assets billion billion loans billion billion deposits billion billion reuter 
acq	investment firm has pct blasius blas fidelity international ltd bermuda based investment advisory firm and affiliated investment firm american values iii said they have acquired share blasius industries inc filing with the securities and exchange commission the group said bought the stake which amounts pct the total outstanding common stock acquire equity interest the company for investment purposes the group said may raise its stake sell some all and has plans seek control the company reuter 
earn	isc systems iscs qtr march net shr seven cts cts net revs mln mln nine mths shr cts cts net revs mln mln reuter 
iron-steel	slater ssi plans modernization slater industries inc said planned mln dlr modernization its slater steels corp fort wayne specialty bar division indiana said the modernization would involve replacement the existing bar mill with high speed quick change continuous mill the new facility will lower labor and mill costs and enhance product quality and range slater said completion date the new mill was undisclosed reuter 
acq	adams russell aar acquire cable systems adams russell inc said agreed acquire cable television systems serving about customers new york state from sammons communications inc for undisclosed terms adams russell said the systems operate wellsville amity andover scio willing belmont milo jerusalem benton and penn yan reuter 
earn	independent bank corp ibcp qtr net shr cts shr cts net reuter 
crude	gulf canada goc acquires suez oil stake gulf canada corp said acquired pct working interest the gulf suez oil concession for undisclosed terms the company said its agreement with operator conoco hurghada inc and hispanoil covered the acre east hurghada offshore concession said mln dlr four well program was planned for after the acquisition which subject egyptian government approval working interests the hurghada block will conoco hurghada pct hispanoil pct and gulf canada the balance reuter 
earn	convergent technologies cvgt sees qtr loss convergent technologies inc said expects report the first quarter loss more than twice the size the mln dlr loss reported the fourth quarter convergent reported first quarter profit dlrs five cts per share the company said results declined the quarter both its traditional oem business and its business systems group the anticipated loss reflects lower than expected operating margins start costs for new product manufacturing and higher than planned expenses reuter 
acq	interco iss shareholders approve merger interco inc said its shareholders and shareholders the lane lane approved the merger the two companies the merger lane stockholders will receive shares interco common stock for each outstanding share lane common stock interco said reuter 
earn	john harland qtr net shr cts cts net mln revs mln mln reuter 
earn	travelers realty income investors qtr net shr cts cts qtrly div cts cts prior net note dividend payable may shareholders record april reuter 
acq	dotronix inc dotx buy video monitors dotronix inc said agreed principle buy video monitors inc privately held company payment for the acquisition dotronix will issue unregistered shares its common stock notes worth mln dlrs payable over three years and about dlrs cash dotronix said video monitors sales for the fiscal year ended april were mln dlrs dotronix had income dlrs sales mln dlrs for the six months ended dec previously reported reuter 
earn	develcon electronics ltd dlcff qtr loss period ended feb shr loss cts loss cts net loss revs six mths shr loss cts loss cts net loss loss revs reuter 
crude	texaco filing adds uncertainty oil market oil traders said texaco inc filing for protection under the chapter bankruptcy code adding uncertainty already skittish oil market but opinions are divided the impact the market the filing holding wet barrel trading today said one trader everyone talking about assessing their company situations relation texaco added some traders said companies that deal with texaco are concerned about whether they will receive payment supplies under the bankruptcy filing however others were less worried the first paid will the trading community and those connected with texaco the shipping industry one new york trader said texaco doesn get crude supplies can run its refineries its other assets would not worth anything added texaco filed for protection under chapter the bankruptcy code yesterday after failing reach settlement with pennzoil billion dlrs court award for illegally interferring with pennzoil proposed purchase getty oil however others were less worried the first paid will the trading community and those connected with texaco the shipping industry one new york trader said texaco doesn get crude supplies can run its refineries its other assets would not worth anything added texaco filed for protection under chapter the bankruptcy code yesterday after failing reach settlement with pennzoil billion dlrs court award for illegally interferring with pennzoil proposed purchase getty oil there some reluctance trade with texaco but great change said another trader adding that traders are tending toward prudence their dealings with the company traders are assessing whether require cash prepayment letters credit continue trade usual with texaco open line basis said another trader however described today activity business usual adding that traders feel more secure because liens can put texaco assets while bankruptcy traders said there was apparent effect the texaco filing crude futures trading although they said the exchange might lower texaco position limit and require higher margins for texaco trades new york mercantile exchange president rosemary mcfadden declined comment texaco futures trading saying that proprietary information mcfadden did say however that matter procedure possible the exchange can lower allowable position limits increase margin requirements for companies that are financial trouble reuter 
earn	valley national corp vncp qtr net shr dlrs dlrs net mln mln assets billion billion deposits billion billion net loans billion billion reuter 
earn	otter tail power ottr sets dividend qtly dividend cts cts pay june record may reuter 
acq	merrill get mln dlr fee borg bor deal merrill lynch and inc mer subsidiary seeking take over borg warner corp said could realize mln dlr fee for its efforts whether not the deal which values billion dlrs succeeds filing with the securities and exchange commission merrill lynch capital partners inc said would receive mln dlr fee from the surviving company for acting dealer manager the merger after the borg warner deal completed but said could also receive break fee mln dlrs the deal fails for reasons which include another party holding more than pct its stock tendering for pct the mln dlr fee among the highest set down any tender offer agreement either compensation for dealer manager services for break the deal merrill lynch capital markets backed group investors organized has launched dlr share tender offer for borg warner for pct its stock the company board has approved the plan which was intended thwart unsolicited offer from gaf corp borg warner also agreed redeem all outstanding series preferred shares and pay off all options dlr share exercise price before the merger effective said merrill lynch said its representatives discussed possible leveraged buyout with borg warner early last december that time merrill lynch told the company would consider dlr share tender offer cash and securities the borg warner board approved said feb said was told the company had decided against buyout but talks were revived after gaf launched its dlr share proposal march merrill lynch said unlike its earlier proposal merrill lynch said borg warner management was asked not take part the new deal and was conditioned upon payment the fees addition its fees merrill lynch said will also get mln dlrs from borg warner cover its expenses the tender offer merrill lynch said would continue operating borg warner subsidiary with its current officers keeping their positions but for flexibility purposes merrill lynch said considering redistributing borg warner assets number subsdiaries entity created carry out the merger all all merrill lynch estimated that there would mln dlrs fees and expenses connected with the deal another mln dlrs will needed repay certain debt borg warner merrill lynch said finance the deal merrill lynch said expects borrow billion dlrs from group banks and sell mln dlrs common stock the new company sell mln dlrs non voting preferred stock the new company merrill lynch and sell mln dlrs subordinated notes merrill lynch and and sell the public mln dlrs subordinated discount debentures gaf has raised its offer dlrs share cash reuter 
acq	chrysler non profit group sells unit chrysler corp chrysler motors corp said its chrysler training corp non profit organization sold the name and assets its motech auto mechanic and body shop schools corp troy mich the sale price was not disclosed under the internal revenue service code proceeds from the sale motech must donated another tax exempt nonprofit organization chrysler did not reveal the name the group that received the proceeds reuter 
earn	potlatch corp pch qtr net shr cts cts net mln mln sales mln mln reuter 
acq	diceon electronics dicn buy symtron corp diceon electronics inc said has entered agreement principal buy closely held symtron corp stock exchange transaction under the pact diceon would exchange shares its stock for all symtron shares the acquisition which subject board approval and definitive agreement expected concluded during may diceon said symtron management would continue running the business which would become wholly owned subsidiary symtron had sales about mln dlrs reuter 
crude	ecuador says will resume limited oil production ecuador will resume limited crude output next week fill storage tanks first step pump oil colombian pipeline may one the state ecuadorean petroleum corp cepe said cepe manager carlos romoleroux told reporters that ecuador would begin pumping unspecified amount crude northeastern jungle oilfields the end next week preparation send the oil through new pipeline link neighbouring colombia oil production ecuador was halted march five when earthquake damaged the country main pipeline from lago agrio the heart the ecuadorean jungle oilfields the pacific port balao will take least until the end july repair the pipeline and return output normal levels the country was pumping between bpd and bpd before the tremor resume limited output the meantime ecuador constructing mile pipeline linkup capable carrying bpd from lago agrio puerto colon the starting point colombia pipeline the pacific port tumaco the original target date resume limited crude output was may eight the scheduled date for the inauguration the lago agrio puerto colon pipeline energy ministry spokesman said reuter 
cpi	new zealand cpi rises pct march quarter new zealand consumer price index cpi which measures the rate inflation rose pct the quarter ended march against pct rise the december quarter and pct rise the march quarter the statistics department said for the months ended march the cpi rose pct against pct months ended december and pct the months ended march said statement nearly half the increase the latest quarterly index was contributed the housing group the department said the december quarter was significantly affected the introduction pct value added goods and services tax gst october added however some gst charges not measured the december quarter influenced the latest march quarterly figure said this because unavoidable lag price information particularly housing used cars and insurance household contents added reuter 
trade	miyazawa sees eventual lower trade deficit japanese finance minister kiichi miyazawa told press conference expects the trade deficit eventually start reflecting economic fundamentals which should influence exchange rates the minister was not referring the trade data released washington later today miyazawa also said told major industrial nations when was washington last week that present exchange rates are not necessarily good had said earlier washington that current exchange rates were within levels implied the february paris currency accord reuter 
wpi	japan march wholesale prices rise pct pct february drop official 
acq	talks set proposed japan telecom merger formal talks have been scheduled yet among companies involved controversial proposal merge two groups seeking enter japan international telecommunications sector official from one group said nothing has been firmed yet said official international digital communications planning inc idc one the groups set last year study competing against kokusai denshin denwa ltd which monopolises the sector britain cable and wireless plc cawl which holds pct share idc has opposed plans merge with rival group international telecom japan inc under the plan backed the post and telecommunications ministry cable and wireless and based pacific telesis international inc would become core companies the merged firm with shares equal those the six major japanese core companies and seats the board directors britain angry over what feels are moves restrict cable and wireless role the sector views the issue test case the idc official declined specify what was holding the talks spokesman for itoh and ltd citt which holds pct idc said meeting may held later this week reuter 
sugar	haitian cane planters protest sugar mill closure about sugar cane planters marched port prince protest against the closure haiti largest sugar mill and second biggest employer the haitian american sugar company closed friday because huge surplus unsold sugar the firm said haiti has been flooded with smuggled refined and unrefined sugar from the dominican republic and refined sugar from miami the closure idled factory workers and left small cane planters with outlet for their cane the protesters blamed finance minister lesly delatour for the closure saying his policies have hurt haitian businesses reuter 
alum	china open first phase large aluminium plant china major aluminium importer will open the first phase its biggest aluminium plant october the china daily said the first phase the plant located qinghai province will have annual capacity tonnes ingots half the capacity the finished plant will turn out tonnes the paper said but gave more details construction the mln yuan plant began april customs figures show china imported tonnes aluminium and alloy down from reuter 
money-fx	bank japan intervening support dollar against yen dealers 
money-supply	japan march money supply rises pct japan broadly defined money supply average plus certificate deposits rose preliminary pct march from year earlier compared with pct rise february the bank japan said the seasonally adjusted march average plus cds rose pct from february when rose identical pct from month earlier said unadjusted plus cds stood average billion yen march compared with billion february reuter 
bop	south korea change policies avert trade war south korea has decided major changes its trade investment and finance policies aimed reducing the growth its balance payments surplus and avoiding trade war with the united states deputy prime minister kim mahn said kim told reporters the excessively fast rise exports could make south korea too reliant exports increase nflation and produce trade friction the policy shift which means abandoning seoul goal rapidly reducing its foreign debt was worked out series ministerial meetings kim who also economic planning minister said the current account surplus previously expected exceed eight billion dlrs this year would held about five billion dlrs increasing imports accelerating market liberalisation and rationalising exports said seoul would try limit its current account surplus around five billion dlrs year for the next few years although trade volume would continue grow this will gradually reduce the ratio the surplus gnp gross national product from the current five pct level three pct added koo bon yong aide kim said south korea foreign debt had been expected fall below billion dlrs the end against the initial forecast billion and billion dlrs end but now with the policy changes the debt expected remain above billion dlrs although could still lower than the originally projected billion dlrs said the policy change was announced two days before the scheduled arrival commerce secretary malcolm baldrige for talks with trade minister rha woong bae south korea under pressure reduce its bilateral trade surplus which rose billion dlrs last year from billion dlrs kim said the policy changes were also prompted the swing south korea current account surplus billion dlrs the first quarter from deficit mln dlrs the same period first quarter exports rose pct billion dlrs the government would make foreign currency loans worth billion dlrs firms willing import capital goods raw materials and equipment preferably from the said the foreign currency based loans which carry interest points above libor london interbank offered rate are considerable incentives given increase imports koo said koo said the loans would repayable foreign currency means they could become interest free loans the korean currency continues rise value said said the south korean won would revalued against the dollar gradually but added not believe rapid one shot changes the value the won the won fixed the dollar today has risen six pct against the dollar since the beginning reuter 
acq	bank china buys share luxembourg company state owned bank china has bought three five pct share baii holding financial institution registered luxembourg the china daily business weekly said said the institution pct owned arab interests and has set wholly owned commercial banking branch hong kong but gave more details reuter 
crude	saudi arabia wants increase oil sales japan saudi arabia hopes increase the volume its oil exports japan through expanding bilateral trade saudi arabian interior minister naif bin abdul aziz said told tokyo reception his country hopes raise crude and products exports japan earlier levels but did not elaborate promote trade saudi arabia inviting japanese industries business there said japanese firms now have long term contracts import total barrels per day saudi crude reuter 
lei	south korea leading indicators rise february south korea index leading indicators rose pct base february after pct rise january stand pct higher than feburary provisional economic planning board figures show the index based indicators which include export values letters credit received warehouse stocks and money supply figures and the composite stock exchange index reuter 
money-fx	japan ldp call for flexible monetary policies japan ruling liberal democratic party ldp will call for adequate and flexible management the nation monetary polices its plan expand domestic demand senior ldp official told reuters junichiro koizumi the head the ldp committee working out the plan said the phrase should not taken implying immediate cut japan pct discount rate the ldp generally believes that there need for further discount rate cut the moment said but koizumi said the ldp does not rule out rate cut necessary the future bank japan governor satoshi sumita told press conference wednesday that the central bank does not have any intention easing credit conditions reuter 
wpi	india annual inflation rate drops marginally the finance ministry said india wholesale price linked inflation rate dropped marginally pct all fiscal ended march from pct and pct the average wholesale price related inflation stood pct march this year against pct year ago the ministry said statement said wholesale prices cement textiles and jute fell compared with the previous year but milk cereals mainly wheat and rice fruits and vegetables edible oils tobacco and fertilisers were costlier reuter 
trade	japan details plan stave off trade problems japan liberal democratic party ldp has drawn detailed plan calling for large tax cuts and increase government purchases foreign goods the head the committee working out the plan junichiro koizumi said the plan will also urge the government double official development assistance billion dlrs within five years instead seven the government had promised senior ldp officials said press conference ldp executive council chairman shintaro abe will explain the plan officials when visits the april abe visit prepare for prime minister yasuhiro nakasone talks with president ronald reagan later this month koizumi said the ldp plan will not specify the size the tax cut the amount domestic demand stimulated however top ldp executives will work out figures that abe will able offer specifics officials the proposed increase procurement foreign goods the government will probably include the purchase super computers ldp officials said specific trade problems with other nations and will encourage flows funds developing countries the officials said the ldp expects the measures prop the economy and lessen trade problems with the they added the basic ideas the ldp plan were presented and welcomed monetary authorities the major industrial nations washington last week they said the ldp plan will form the basis for the last several packages stimulate japanese domestic demand and will unveiled the government late may reuter 
rubber	thai venture will sell rubber china teck soon ltd major thai rubber exporter has formed joint venture with state owned chinese international economic and technology development corp produce tonnes sheet rubber annually for export the chinese auto industry teck soon general manager chit surivitchpan said chit said new joint venture company will have registered capital four mln dlrs china imported tonnes thai sheet rubber last year and tonnes reuter 
trade	japan farm reform key trimming trade surplus basic reform japan protected farm sector key shifting its economy away from export domestic led growth vital step trim its trade surplus securities analysts said the farm sector which protected import tariffs and quotas propped subsidies and price supports and sheltered the tax system has ample room for change they said economic terms reform would plus said christopher chew brokerage firm james capel and the ultimate cost the existing system food prices twice those europe and two three times those the the analysts said spending food accounts for about one quarter the average household budget and roughly pct the gross national product gnp according study chew reducing these prices could increase household spending power five pct his study said the money could spent products which would have more direct impact boosting domestic growth added there lot slack government official tokyo said all that money could spent something else direct central government subsidies the farm sector amount some five billion dlrs per year independent estimates put total subsidies from all sources high billion and the analysts said much that money wasted changing tax laws encourage city residents who only farm weekends put their land for sale for residential development would also give boost domestic spending economists said housing construction the key strategic variable the expansion domestic demand wrote chihiro nakajima professor kyoto gakuen university japanese business groups are calling for staged farm reform shift some the burden trade friction and economic restructuring away from the manufacturing sector and onto the farm sector employers groups also want change you really want expand domestic demand the way not raise wages recklessly but reduce commodity prices bumpei otsuki president the japan federation employers associations told recent press conference external pressures are rising the and europe seek removal tariffs and quotas help reduce their trade deficits with japan but vested japanese interests opposed change remain well entrenched dimming prospects for quick reform analysts said although the full time farm population falling and there are signs the ldp paying more attention urban constituencies the ruling party remains heavily dependent farm votes the rural areas one rural vote worth several city votes due the pattern constituency borders the ldp already political trouble over its tax reform plan and does not want raise another sticky issue soon the analysts said consumer groups are politically weak and tend accept the traditional view that higher prices are small fee pay for national food security they said powerful agricultural cooperatives are fiercely opposed import liberalisation but are more flexible about reforms aimed stepping productivity they said reform when comes will response specific pressure rather than all embracing program said chew reuter 
money-supply	japan sees higher money supply growth this quarter the bank japan said forecast japan broadly defined money supply average plus certificates deposit cds will rise about nine pct the current april june quarter against pct year earlier unadjusted plus cds rose preliminary pct january march compared with nine pct rise year earlier said the bank said the forecast rise due increase floating deposits due recent low interest rates and shift private banks from the bank japan billion yen the recently privatised japanese railways reuter 
cpi	oecd consumer prices rise february consumer prices the countries the organisation for economic cooperation and development oecd rose pct february and inflation rose pct year year the oecd said communique the oecd attributed the rise consumer prices the effects the february drop energy prices working their way out the index the february increase was less than janauary pct increase but slightly above the average for the later months inflation the western industrialised nations january was revised pct year year retail energy prices rose pct less than january pct increase energy prices for consumers were still nine pct lower than year earlier said consumer prices excluding food and energy rose pct february line with previous months although there has been some acceleration noticeable the and britain among the leading seven industrial countries consumer price inflation was highest italy pct followed canada pct britain pct france pct the pct and west germany and japan with negative rates pct and pct respectively reuter 
trade	japan details plan stave off trade problems japan liberal democratic party ldp has drawn detailed plan calling for large tax cuts and increase government purchases foreign goods the head the committee working out the plan junichiro koizumi said the plan will also urge the government double official development assistance billion dlrs within five years instead seven the government had promised senior ldp officials said press conference ldp executive council chairman shintaro abe will explain the plan officials when visits the april abe visit prepare for prime minister yasuhiro nakasone talks with president ronald reagan later this month koizumi said the ldp plan will not specify the size the tax cut the amount domestic demand stimulated however top ldp executives will work out figures that abe will able offer specifics officials the proposed increase procurement foreign goods the government will probably include the purchase super computers ldp officials said according the plan japan will also strive solve specific trade problems with other nations and will encourage flows funds developing countries the officials said the ldp expects the measures prop the economy and lessen trade problems with the they added the basic ideas the ldp plan were presented and welcomed monetary authorities the major industrial nations washington last week they said the ldp plan will form the basis for the last several packages stimulate japanese domestic demand and will unveiled the government late may reuter 
trade	baldrige launch far east trade drive commerce secretary malcolm baldrige leaves saturday day trip the far east help spur trade and improve business relations with china south korea and the philippines officials say baldrige will also stop hong kong meet british officials and local and hong kong businessmen the last year had major deficits with three its asian trading partners south korea billion dlrs hong kong billion and china billion the deficit with the philippines was mln dlrs baldrige will meet south korean president chun doo hwan and trade minister rha woong bae monday discuss opening south korean markets more goods baldrige will peking from april will meet zheng tuobin minister for foreign economic relations and trade attend meeting the china joint commission commerce and trade and address management and training organisation however officials said chief purpose baldrige visit would discuss relaxed rules for transferring modern technology chinese industries hong kong baldrige will hold meetings april with governor david wilson and trade and industry secretary eric well addressing the american chamber commerce officials said baldrige will meet philippines president corazon aquino april show continued support for her government and discuss steps could take improve the atmosphere for american investment will also will meet finance secretary jaime ongpin and trade and industry secretary jose concepcion reuter 
earn	federated guaranty fdgc sets stock split federated guaranty corp said its board declared two for one stock split and raised the quarterly dividend cts per share post split from six cts both payable june one record may the company said shareholders the annual meeting approved increase authorized common shares mln from mln and name change alfa corp said the name change should take effect next week along with nasdaq ticker symbol change alfa reuter 
trade	reagan announce decision japan sanctions president reagan today announce decision tough new tariffs japanese exports retaliate for what calls japan failure end its unfair practices semiconductor trade the pct tariffs are imposed mln dlrs japanese goods recommended for curbs special panel experts headed the trade representative office reagan announced last march would impose the tariffs certain goods taken from list that ranged from computors and television sets power tools and photographic film the panel this week winnowed through the list the some products and sent their recommendations yesterday santa barbara where reagan vacationing his march annoucement reagan said committed full enforcement our trade agreements designed provide american industry with free and fair trade opportunities added the tariffs would lifted once japan honored the pact signed last year end dumping semiconductors world markets and opened its home market products officials said japan had done nothing since the march announcement alter reagan plan invoke the sanctions white house spokesman marlin fitzwater said yesterday not want trade war but feel that this the kind action that requires meaningful action reagan move follows steadily rising trade deicits with last year hitting record billion about one third the deficit trade with japan congress weighing trade bill force the president retaliate certain cases unfair trade practices has opposed the legislation saying would prevent negotiated solutions trade disputes and any case that existing law was adqeuate end unfair trade practices trade experts say his tough action against the japanese was much penalize the japanese show congress did not need any new trade legislation the japanese have complained that they have been honoring the semiconductor pact but that would take time before the results showed officials however have said their monitoring japanese semiconductor shipments east asian countries and western europe showed letup the dumping and that the japanese home markets remained shut american exports japan has said that reagan imposed the tariffs would file complaint with the general agreement tariff and trade gatt said hoped gatt would find the retaliation had violated the regulations the global trading group and would approve compensation japanese retaliation officials have said they did not think japan would retaliate because had too much lose any trade war with the united states reuter 
earn	union planters corp upcm qtr net shr cts dlrs qtly div cts cts prior net avg shrs note dividend pay may record may one reuter 
acq	union planters upcm acquisitions approved union planters corp said has received regulatory approvals for its previously announced acquisitions borc financial corp and first citizens bank hohenwald and approval its acquisition merchants state holding expected within days all are completed during the second quarter said reuter 
earn	pioneer savings bank inc psbn qtr net march end shr cts cts net avg shrs half shr dlrs dlrs net avg shrs reuter 
earn	management science america inc msai qtr shr loss cts loss two cts net loss loss revs mln mln avg shrs mln mln note net includes tax credits dlrs dlrs reuter 
earn	general housewares corp ghw qtr net shr two cts one net sales mln mln note net includes gain dlrs from change pension accounting reuter 
earn	oakite products inc okt qtr net shr cts cts net sales mln mln reuter 
earn	bha group inc bhag qtr march net shr cts cts net sales avg shrs half shr cts cts net sales mln mln avg shrs reuter 
earn	transportation services inc ptsi net qtr shr cts cts net revs mln avg shrs reuter 
earn	first federal bank ffbn qtr march net shr cts cts net total income half shr dlrs dlrs net total income mln mln reuter 
earn	global natural resources inc gnr qtr loss oper shr loss five cts loss nil ope net loss loss revs mln avg shrs mln mln year oper shr profit cts loss one oper net profit loss revs mln mln avg shrs mln mln note net excludes extraordinary tax charges dlrs dlrs quarter and credits dlrs dlrs year reuter 
earn	first interstate iowa inc fiia qtr shr profit two cts loss two cts net profit loss note pretax net profit dlrs loss dlrs charge against earnings for loan losses dlrs dlrs and net chargeoffs dlrs dlrs reuter 
earn	double eagle petroleum and mining dblb qtr feb shr loss two cts loss eight cts net loss loss revs half shr loss cts loss eight cts net loss loss revs reuter 
earn	tel international inc qtr dec loss shr loss two cts profit cts net loss profit sales mln half shr loss cts loss seven cts net loss loss sales mln mln reuter 
earn	electromagnetic sciences inc elmg qtr shr cts cts net sales mln backlog mln mln reuter 
earn	cape cod bank and trust ccbt qtr net shr cts cts shr diluted cts cts net avg shrs avg shrs diluted reuter 
acq	holiday corp hia sells stake venture residence inn corp said has agreed buy holiday corp out their equaly owned joint venture for mln dlrs with closing expected within the next few weeks the all suite residence inn system which geated extended stays currently has open franchised company owned hotels nationwide and another construction development reuter 
earn	cadnetix corp cadx qtr march net oper shr cts five cts oper net sales mln avg shrs mln mln nine mths oper shr cts cts oper net sales mln mln avg shrs mln mln note prior year net excludes extraordinary credits dlrs quarter and dlrs nine mths reuter 
earn	bush industries inc bsh qtr net shr cts cts net sales mln mln note share adjusted for three for two stock split february reuter 
earn	plasti line inc sign qtr net shr cts cts net sales mln reuter 
earn	endata inc data qtr net oper shr cts cts oper net revs note net excludes dlr tax credit reuter 
earn	roto rooter inc roto qtr net shr cts cts net revs mln reuter 
earn	birdsboro corp qtr loss shr loss cts loss cts net loss loss sales year shr loss dlrs loss cts net loss mln loss sales mln mln note year net includes pretax realized loss secureity transaction dlrs net includes tax credits dlrs dlrs quarter and dlrs dlrs year net both periods includes gain dlrs from pension plan termination reuter 
earn	dynamics research corp drco qtr march shr cts cts net revs mln mln note share adjusted for five for four stock split january reuter 
earn	martin processing inc mpi qtr net oper shr cts cts oper net sales mln mln note net excludes dlr gain from discontinued machinery division reuter 
earn	bush industries bsh sees higher year results bush industries inc said expects higher earnings and sales for partly due efficiencies manufacturing that have improved its margins the company reported first quarter earnings dlrs from dlrs year before sales mln dlrs from mln dlrs for all last year earned dlrs sales mln dlrs reuter 
earn	bildner and sons inc jbil year jan net shr cts three cts net sales mln mln avg shrs note net includes dlr tax credit reuter 
earn	bildner jbil sees improved results bildner and sons inc said expects improved earnings and sales the current fiscal year the company reported earnings for the year ended january dlrsl from dlrs year before sales mln dlrs from mln dlrs bildner also said plans offer mln dlrs eurodollar convertible subordinated debentures due through underwriters led painewebber group inc pwj and kidder peabody and inc with proceeds used finance expansion and reduce debt reuter 
acq	amoco may buy dome dmp report says amoco corp apparently the successful bidder for debt laden dome petroleum ltd according published report the toronto globe and mail quoting sources close the negotiations today said dome broke off talks last night with transcanada pipelines ltd which last week announced billion canadian dlr offer for all dome assets financial details about the amoco offer were available and dome spokesman would neither confirm nor deny that amoco had emerged the winner the newspaper said however the dome spokesman indicated that the sale dome could finalized and announced this weekend the globe and mail said representatives amoco were not immediately available for comment last sunday when transcanada announced its offer dome said was also talks with two other companies but refused identify them since then market speculation has centered amoco and exxon corp xon pct owned imperial oil ltd subsidiary canada british petroleum plc and royal dutch shell group have also been mentioned possible suitors for dome the past two days dome management has been pressured the federal government select the offer from transcanada the only canadian company the bidding prime minister brian mulroney government appears want avoid dome sale foreign company since the government gave dome hundreds millions dollars tax breaks encourage oil and gas exploration the arctic analysts and officials have said purchase transcanada would least likely run afoul canadian antitrust laws however transcanada asking for tax concessions from federal government that trying hold its deficit below billion canadian dlrs analysts have said takeover amoco imperial would also give foreign oil company dominant position canada oil industry imperial oil already canada largest energy company with revenues billion canadian dlrs chicago based amoco had revenues billion dlrs its amoco canada petroleum subsidiary pct owned amoco corp reuter 
earn	gorman rupp grc sets quarterly qtly div cts cts prior pay june record may eight reuter 
earn	lilly industrial coatings inc licia payout qtly div cts cts prior pay july one record june reuter 
earn	grumman corp payout qtly div cts cts prior pay may record may eight reuter 
earn	ambrit inc abi payout qtly div two cts two cts prior pay may record may eight reuter 
earn	oneok inc oke payout qtly div cts cts prior pay may record april reuter 
earn	diamond shamrock offshore partners dsp payout qtly div cts cts prior pay june eight record may eight reuter 
ipi	french industrial production rises february french industrial production rose seasonally adjusted three pct february after unrevised pct fall january the national statistics institute insee said the figure which excludes construction and public works put the february index base after january insee changed its base year from last month reuter 
earn	rlc corp rlc qtr march net shr loss nil profit six cts net loss profit revs mln mln half shr loss two cts profit cts net loss profit revs mln mln avg shrs mln mln note current quarter net includes dlr tax credit current half net includes reversal dlrs investment tax credits reuter 
earn	fresh juice inc frsh qtr feb net shr loss five cts net loss sales note company began opeations april reuter 
acq	french government sets terms bimp sale the french finance ministry said today public flotation offer opening this coming tuesday for pct the capital banque industrielle mobiliere privee bimp has been set francs per share the offer closes next friday the ministry said statement pct the bank capital had been sold solid core large investors including insurance companies and michelin subsidiary spika for pct the public offer price ten pct the shares have been reserved for employees who get five pct discount increased pct they keep the shares for two years employees also get one free share for each one bought the shares are held for least one year small investors would receive one free share for every bought with upper limit five free shares per investor and condition the shares are held for least months the state owned capital bimp comprises mln shares the bank being sold the public part sweeping programme privatise state owned groups over five years separate statement the ministry said last week privatisation offer mln shares banque batiment des travaux publics btp was times oversubscribed reuter 
interest	budget chief miller warns fed interest rates white house budget chief james miller said was concerned that the federal reserve might overreact the decline the value the dollar raising interest rates move said could cause recession next year our greatest danger overreaction miller told newspaper reporters yesterday concerned about the fed overreaction concerned about what see recent data showing substantial fall the money supply edwin dale miller spokesman said the remarks published the new york times today were accurate miller said was concerned the fed might overreact signals rising inflation tightening credit move said could have political consequences the white house budget chief appeared referring the effect economic slowdown could have the presidential and congressional elections next year fear that get into recession are deep soup and there question about said miller said economic slowdown could lead lower tax revenues and widening the budget deficit miller remarks reflected concern that the central bank might feel compelled tighten credit means bolstering the dollar both treasury secretary james baker and federal reserve board chairman paul volcker recently have warned that further declines the value the dollar could jeopardize global growth prospects officials have urged japan and west germany stimulate economic growth their countries move that could boost exports and relieve trade protectionist pressures the united states reuter 
ipi	bank france sees pickup industrial activity the bank france said its latest monthly report the french economy expected pickup industrial production registered march gather steam over the next few months without giving figures the report said last month rise partly linked efforts catch with production lost earlier this year through industrial action was due mainly firming domestic demand new progress expected all main sectors except capital goods where production will remain its present level the report added the upbeat report comes the wake grim march trade balance figures which showed deficit industrial trade for the first time since june while the automobile industry remained unchanged from previously boosted levels consumer goods production grew and was expected accelerate except the area domestic appliances semi finished goods showed clear increase all sectors construction and civil engineering boosted rise public works also improved while retail trade sales all sectors continued slow reuter 
wpi	italian wholesale prices pct february italy wholesale price index rose pct month month february after increasing pct january the national statistics institute istat said the index base equals registered february compared with january the february figure represents decline pct compared with february after year year decline january pct reuter 
trade	yeutter says japanese curb all but certain trade representative clayton yeutter said was all but certain president reagan would ahead today and impose curbs japanese exports planned asked television interview what the chance was for reagan cancel the scheduled pct tariffs japanese electronic exports said slim none reagan announced march would impose the tariffs retaliate for japan failure honor agreement end dumping computer semiconductors world markets less than cost and open its home markets products yeutter the nbc program today said the united states did not want terminate the agreement and would drop the tariffs once japan began fulfilling the agreement said japanese negotiators last week told officials they were honoring the pact but yeutter said would take time monitor any compliance asked how long that would take said want see pattern compliance minimum would say that would take few weeks yeutter said did not think there would much consumer impact the tariffs mln dlrs worth japanese goods because the items selected are also readily available from other countries and manufacturers said did not think japan would retaliate seems not the interests either country get escalating conflict the japanese understand that full well yeutter said added japan might challenge the tariffs the general agreement tariffs and trade gatt but that more paper kind exercise and don really expect see any adverse impact trade yeutter also said did not see any way the semiconductor issue could resolved before during washington visit later this month japanese prime minister yasuhiro nakasone said hoped the visit which have trade major issue would productive but don see any practical way resolve this particular dispute before during his visit reuter 
earn	church fried chicken inc chu qtr net shr one cts qtly div cts cts prior net revs mln mln note dividend pay may record may one reuter 
earn	dominion resources inc qtr net shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln mths shr dlrs dlrs net mln mln revs billion billion avg shrs mln mln reuter 
alum	ford developing aluminum car frame ford motor said developing aluminum space frame for its probe concept car using extruded stretch formed aluminum that could lead new techniques for building production cars the future said the frame would reduce vehicle weight and cost while maintaining structural integrity and crashworthiness the frame has fewer parts than conventional steel frames ford said the company said the lighter weight would allow smaller powertrains and suspensions further reducing weight and improving fuel economy ford said addition extrusion dies cost dlrs each compared with hundreds thousands dollars for steel stamping dies and using extruded aluminum the number welds car could reduced about from over reuter 
trade	commerce trade report omits freight costs the commerce department said that insurance and freight costs for imported goods billion dlrs were included the february trade deficit billion dlrs reported tuesday the department required law wait hours after the initial trade report issue second report customs value basis which eliminates the freight and insurance charges from the cost imports private sector economists emphasized that the commerce department was not revising down the deficit billion dlrs but simply presenting the figures different basis report the washington post caused stir the foreign exchanges today because gave the impression dealers said that the underlying trade deficit for february had been revised downward the commerce department would like have the law changed permit report both sets figures simultaneously feeling the second one better report but there legislation that requires delay two days said robert ortner commerce undersecretary for economic affairs but this has been going for long time and one pays any attention the second figure the billion dlr february trade deficit compared with revised january deficit billion dlrs the law requiring hour delay publishing the monthly trade figure excluding freight and insurance was passed reportedly the feeling was the first figure which includes customs freight and insurance allowed better comparison with other countries that reported their trade balances the same basis the second figure which would always lower deducting freight and insurance presents the deficit more favorable light for the reagan administration ortner said would like see the law changed eliminate the hour delay reporting the two figures considering said one those dinosaur laws and think time has come the second figure which would always lower deducting freight and insurance presents the deficit more favorable light for the reagan administration ortner said would like see the law changed eliminate the hour delay reporting the two figures considering said one those dinosaur laws and think its time has come reuter 
acq	hong kong firm ups calmat czm stake pct industrial equity pacific ltd hong kong investment firm said raised its stake calmat shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission industrial equity which principally owned brierley investments ltd publicly held new zealand company said bought calmat common shares between april and for total mln dlrs reuter 
acq	foundation cuts wurlitzer wur stake the farny wurlitzer foundation told the securities and exchange commission cut its stake wurlitzer shares pct the total outstanding common stock from shares pct the foundation said sold wurlitzer common shares between march and prices ranging from dlrs share long the foundation stake wurlitzer below five pct not required report further dealings has the company common stock reuter 
acq	investment firms raise orient express oeh stake two affiliated investment firms and funds they control told the securities and exchange commission they raised their orient express hotels inc stake shares pct the total from pct the firms boston based fmr corp and bermuda based fidelity international ltd said they bought combined orient express common shares from march april prices ranging from dlrs each reuter 
acq	hospital corp hca board against buyout bid hospital corp america said its management believes the dlr per share acquisition offer received from charles miller richard ragsdale and richard scott not the best interest shareholders and does not plan meet with the individuals the company said its board considered information the three and their bid and given the lack any demonstrated ability the part these individuals consummate acquisition this magnitude the board decided was not necessary take any action their proposal this time hospital corp said the benefits the company ongoing repositioning program are already being realized and will continue explore appropriate alternatives for enhancing shareholder value reuter 
earn	calny inc clny sets quarterly qtly div four cts four cts prior pay may record april reuter 
earn	rowan rdc sees substantial losses for year rowan cos inc said expects incur substantial losses despite expected improvement drilling levels the gulf mexico and the north sea the offshore and onshore drilling company today reported first quarter loss mln dlrs after mln dlr tax credit compared with year earlier loss dlrs after tax credit dlrs for all rowan lost mln dlrs after mln dlr tax credit reuter 
earn	rowan cos inc rdc qtr loss shr loss cts loss cts net loss mln loss revs mln mln note net includes tax credits mln dlrs dlrs reuter 
earn	care enterprises cre qtr loss oper shr loss cts profit cts oper net loss profit revs mln mln avg shrs mln year oper shr loss cts profit cts oper net loss profit revs mln mln avg shrs note quarter net includes dlr tax credit net excludes charges from debt restructuring dlrs quarter and dlrs year reuter 
earn	lance inc lnce qtr net shr cts cts qtly div cts cts prior net sales mln mln note pay may record may one reuter 
earn	fhlbb reports thrift results fourth quarter the federal home loan bank board said its insured savings and loan associations thrifts that made profit the fourth quarter reported moderate increases net earnings said that the pct the thrifts reporting profits had net after tax income billion dlrs from billion dlrs earned pct the profitable industry the third quarter for whole the profitable firms had net income billion dlrs from billion dlrs said the pct the industry that made profit the fourth quarter had losses billion dlrs the figure for the unprofitable firms was from billion dlrs the third quarter said over the year these firms had total losses billion dlrs from billion dlrs reuter 
ipi	soviet industrial output first quarter soviet industrial output the first quarter this year grew pct compared with the first three months tass news agency reported regular meeting the politburo heard that march industry achieved the average daily rate needed fulfil annual targets quarterly plans were exceeded the fuel and power sector and agriculture where output grew pct compared with the same period last year said plans were not fulfilled the engineering and building ministries the chemical and timber sectors rail transport and light industry added reuter 
money-fx	white house says monetary policy correct the white house distancing itself from remarks the administration budget chief said the federal reserve current course monetary policy was appropriate the administration feels that the current course monetary policy appropriate white house spokesman marlin fitwater said fitzwater said the administration did not endorse remarks white house budget chief james miller who said was concerned the federal reserve might overreact the decline the value the dollar raising interest rates more 
money-supply	business loans fall billion dlrs business loans the books major banks excluding acceptances fell billion dlrs billion dlrs the week ended april the federal reserve board said the fed said that business loans including acceptances fell billion dlrs billion dlrs reuter 
earn	communications satellite corp qtr net shr cts cts div cts cts prior net mln mln note qtr net after mln dlr reserve for potential refund result the federal communications commission continuing rate investigation company said believes any refunds may have make would not materially affect its financial position reuter 
earn	american management systems amsy qtr net shr cts cts net revs mln mln avg shrs note shr reflects for stock split june reuter 
earn	hytek microsystems inc htek qtr loss shr loss cts loss cts net loss loss revs avg shrs reuter 
earn	tvi corp tvie year loss shr loss cts profit two cts net loss profit revs reuter 
earn	riggs national corp rigs qtr net shr cts dlrs net avg shrs assets billion billion loans billion billion deposits billion billion note gain from sale securities mln mln loan loss provision dlrs mln reuter 
earn	northwest natural gas nwng qtr net shr dlrs dlrs div cts cts prior net revs mln mln avg shrs reuter 
acq	kentucky central kenca unit sells stations kentucky central life insurance said its bluegrass broadcasting inc subsidiary has agreed sell two orlando fla radio stations communications inc for mln dlrs subject fcc approval reuter 
earn	kimbark oil and gas kimb year loss shr loss cts loss dlrs net loss loss reuter 
earn	southern national corp snat qtr net shr cts cts net reuter 
acq	first bank system fbs sells lewiston bank first bank system said has agreeed sell its first bank lewiston subsidiary lewiston mont two local bankers for undisclosed terms first bank lewiston has assets mln dlrs the end the first quarter reuter 
acq	icn icn has five pct syncor scor icn pharmaceuticals inc told the securities and exchange commission has acquired shares syncor international corp pct the total outstanding common stock icn said bought the stake for mln dlrs investment and has plans seek control the company participate the management reuter 
acq	dixons exploring sale cyclops cyl unit dixons group plc dxns the british concern that recently acquired operational control cyclops corp said exploring the possibility selling the cyclops subsidiary busy beaver building centers inc filing with the securities and exchange commission dixons said has determined explore the possibility the sale following its preliminary review the business and activities cyclops busy beaver building centers pittsburgh lumber and building materials company dixons won control cyclops with dlr share tender offer reuter 
trade	japanese tariffs seen worldwide warning the tough trade sanctions president reagan imposed japanese exports are not only shot across japan bow but also sign reagan will attack unfair trade practices worldwide officials said but robert crandall trade specialist brookings institution think tank said shot across their bow can often result shot our stern said left the united states open retaliation the officials said the pct tariffs reagan ordered mln dlrs worth japanese goods will also show congress that tough pro trade stand can taken under existing laws and new protectionist legislation needed the past year tough trade action had been taken against the european community over corn and sorghum taiwan over beer and wine south korea over counterfeiting copyrights patents and trademarkets and japan tobacco white house spokesman marlin fitzwater told reporters the tariffs from five pct should seen serious signal other nations the need for fair trade practices reagan said imposed the sanctions certain computers television sets and some hand tools because japan did not honor agreement end dumping semiconductors world markets less than cost and open its markets products the tariffs were placed items which were available from other sources there would little effect the american consumer fitzwater said reagan has come under heavy pressure take tougher action especially against japan end global unfair trade practices and reverse the growing trade deficit the alternative was that did not congress would the trade gap last year was record billion dlrs and continues rise with japan accounting for about one third america overall deficit but there are other two way deficits with canada west germany taiwan and south korea and reagan officials said the president ready fight them all reagan said announcing the sanctions today that regret that these actions are necessary but that the health and vitality the semiconductor industry was essential american competitiveness world markets cannot allow jeopardized unfair trading practices reagan added the statement from his california vacation home santa barbara said the tariffs would remain force until japan abided the agreement officials say the action today will show congress which about write trade bill does not like that already has the tools needed fight unfair trade the white house aide said the tariff action wasn done appease congress but because there was unfair trade practice the aide added however another plane was example how the administration uses the trade law fight unfair practices that not necessary make major overall our trade laws but the analyst crandall said the tariff action was not the best interests the united states and that negotiations should have been pursued resolve the issue very dangerous down the retaliatory route said because leads more retaliation and restrictions trade crandall said the administration doing this for its political impact across the country and therefore its impact congress said don think makes lot sense but other analysts said made little difference whether the tariffs were aimed trading partners congress and that the main point was that the trading partners were notice that retaliation was weapon reagan was ready use spokesman fitzwater said don want trade war but the imposition sanctions showed the united states would act when had evidence that trade pacts were being violated crandall said the administration doing this for its political impact across the country and therefore its impact congress said don think makes lot sense but other analysts said made little difference whether the tariffs were aimed trading partners congress and that the main point was that the trading partners were notice that retaliation was weapon reagan was ready use spokesman fitzwater said don want trade war but the imposition sanctions showed the united states would act when had evidence that trade pacts were being violated reuter 
trade	yeutter almost sure japan will not retaliate trade representative clayton yeutter said was almost sure japan would not retaliate against tariffs president reagan slapped mln dlrs japanese electronic goods today say plus pct sure that the tariffs will not provoke retaliation american products yeutter told cable news network japan has far too much stake this relationship with the united states seriously entertain thoughts retaliation yeutter said earlier today reagan imposed pct tariffs range japanese goods retaliation for japan alleged violation bilateral pact governing semiconductor trade yeutter did say that farm products would targeted tokyo decided hit back they japan were retaliate would probably something like american agricultural products said but really think the chances that happening are between slim and none added reuter 
trade	japan will not retaliate now against tariffs japan does not plan take immediate retaliatory action against implementation tariffs some japanese electronic goods the minister international trade and industry hajime tamura said statement japan requested bilateral consultations accordance with article the general agreement tariffs and trade gatt washington yesterday tamura said there was deep regret over the measures which will impose pct tariffs about mln dlrs worth japanese imports some small computers colour television sets and power tools reuter 
earn	southam inc stm qtr net oper shr cts cts oper net mln mln revs mln mln note net excludes extraordinary gain mln dlrs five cts shr from sale surplus property reuter 
earn	loctite corp loc qtr march net shr cts cts net revs mln nine mths shr dlrs dlrs net mln mln revs mln mln reuter 
earn	glenfed inc gln qtr march net oper shr dlrs cts oper net mln mln revs mln mln nine mths oper shr dlrs dlrs oper net mln mln revs billion billion assets billion billion deposits billion billion loans billion billion note oper net excludes extraordinary loss and mln for qtr and nine mths prepayment borrowings from the federal home loan bank board oper also excludes tax credits mln for qtr and mln mln for nine mths reuter 
earn	horizon industries inc hrzn qtr net qtr ended april four shr profit eight cts loss cts net profit loss revs mln mln six mths shr profit cts loss cts net profit loss revs mln reuter 
money-supply	fed data provide new evidence tighter policy banking data released today are too distorted draw sweeping conclusions about monetary policy but they support the market assumption that the federal reserve has started tighten its grip credit economists said clear that the fed has firmed somewhat discount window borrowings net free reserves the fed funds rate average and the pattern reserve additions are all consistent with modest tightening said dana johnson first chicago corp johnson and several other economists now estimate that the fed funds rate should trade between and pct discount window borrowings the week wednesday were mln dlrs day producing daily average for the two week statement period mln dlrs the highest since the week december and from mln dlrs previously moreover banks were forced borrow huge billion dlrs from the fed wednesday the highest daily total this year even though unexpectedly low treasury balances the fed that day left banks with over two billion dlrs more reserves than the fed had anticipated however economists said almost certain that the fed aiming for much lower discount window borrowings than witnessed this week they pointed two factors that may have forced banks scramble for reserves the end the week first economists now expect money supply for the week ended april rise staggering billion dlrs partly reflecting the parking checking accounts the proceeds from stock market sales and mutual fund redemptions pay annual income taxes banks checking account liabilities rise the reserves that they are required hold deposit the fed required reserves did indeed rise sharply billion dlrs day the two weeks ended wednesday but economists said the fed may not have believed the magnitude the projected surge until late the week and started add reserves too late second apparent shortage treasury bills apparently left wall street dealers with too little collateral with which enagage repurchase agreements with the fed economists said thus although there were billion dlrs repos outstanding wednesday night the fed may have wanted add even more reserves but was prevented from doing not all inconceivable that the fed didn add much they wanted because the shortage collateral said ward mccarthy merrill lynch economics inc mccarthy estimated that the fed now targetting discount window borrowings about mln dlrs day equivalent fed funds rate around pct after citing the reasons why the fed probably has not tightened credit the degree suggested the data economists said the fact that the fed delayed arranging overnight injections reserves until the last day the statement period was good sign more restrictive policy jeffrey leeds chemical bank had not been convinced that the fed was tightening policy but after reviewing today figures said fair say that the fed may moving toward slightly less accommodative reserve posture leeds expects fed funds trade between and pct and said the fed unlikely raise the discount rate unless the dollar fall gathers pace johnson first chicago agreed citing political opposition washington dollar defense package time when congress sees further dollar depreciation the key reducing the trade surplus with japan reuter 
earn	rorer group inc ror qtr net oper shr profit cts loss cts oper net profit loss mln revs mln mln note year ago oper exludes gain sale businesses mln year ago oper includes charges mln resulting from allocation the purchase price revlon businesses inventory and mln for restructuring costs reuter 
coffee	mild coffee growers meet guatemala large group other milds coffee growing nations will hold talks guatemala next month map their strategy for next september meeting the international coffee organisation ico mario fernandez executive director the costa rican coffee institute said delegates from mexico the dominican republic peru ecuador india papua new guinea and five central american nations will participate the two day strategy session beginning may the main topic will reform what many producing countries perceive the ico unfair distribution export quotas fernandez said said costa rica would press for quotas based the real production and export potential each country the past few years and distribute quotas based historic production levels rather than recent harvests and crop estimates reuter 
acq	study discusses dropped comsat contel merger congressional study today said the proposed but now apparently abandoned merger the communications satellite corp and contel corp ctc would technically legal but could violate the spirt the law setting comsat two weeks ago before the study was completed contel announced would seek terminate the proposed merger the study the non partisan congressional research service crs said the proposed merger appears comply technically with the mandates letter statutes may nevertheless violate the spirit the law comsat created act congress and contel corporation local telephone and communications firms filed with the federal communications commission last november application for merger several firms had protested the proposed merger analysis the law the research service issued several critical comments about the structure the new firm and said apparent domination contel restructured comsat would have broken the spirit the law setting comsat comsat the arm intelstat the international satellite communications firm reuter 
money-supply	australia money supply rise pct march australia money supply growth was pct march and pct the months march the reserve bank said this compared with revised rise pct february and pct the year end february the reserve bank said the data for march was affected the start the operations national mutual royal savings bank ltd which has resulted the transfer deposits equivalent around pct from the united permanent building society national mutual royal savings bank ltd the reserve bank said money supply march was billion australian dlrs compared with revised billion february and billion march deposits the private sector held trading and savings banks plus holdings notes and coins reuter 
dlr	many major nations yesterday intervened heavily aid dlr miyazawa 
acq	standard oil says british petroleum share tender extended until may 
acq	standard oil says extends tender standard oil srd said brief announcement issued after meeting its board directors that british petroleum plc has extended its dlr per share tender offer until midnight may the offer for the pct standard shares not owned had been due expire midnight april standard oil said discussions with concerning the tender were continuing but provided further details long those discussions continue recommendation will made standard oil shareholders regarding the offer standard said standard directors met the company cleveland headquarters thursday regularly scheduled meeting the spokesman was unable say the meeting would continue friday committee independent directors previously obtained opinion from first boston corp that the standard shares were worth dlrs each dlrs more than the offer reuter 
interest	national mutual cuts australian prime pct national mutual royal bank ltd said would cut its prime rate pct from effective april the cut follows trend toward lower rates started last month and accelerated westpac banking corp which yesterday cut its prime pct from pct westpac pct the lowest prevailing rate reuter 
acq	elders purchase canadian brewer approved elders ixl ltd elxa said the canadian government approved its bid for carling keefe ltd elders earlier announced was buying mln shares pct carling from the canadian subsidiary rothmans international plc rot for canadian dlrs each elders chairman john elliott said statement when the offer for the ordinary shares closed april that acceptances representing over pct outstanding shares had been received ixl holdings would proceed acquire the rest compulsorily said reuter 
crude	ecuador use colombia oil link for five years ecuador will use new pipeline link with colombia export crude oil for the next five years colombian mines and energy minister guillermo perry said the link will inaugurated may was built allow ecuador resume exports crude oil halted march earthquake damage its lago agrio balao pipeline once that pipeline repaired ecuador will exceed its opec quota order offset lost income and pay debts contracted with venezuela and nigeria since the quake ecuador mines and energy minister javier espinosa said the two ministers were speaking news conference after signing agreement for joint oil exploration and exploitation the jungle border zone between the two nations drilling will begin september the agreement transport ecuadorean crude oil not only for this emergency period but for the next five years with possibility extension between and barrels per day bpd will pumped along perry said espinosa said ecuador planned pump mln barrels through the link the next five years cost cents per barrel during the first year the link with maximum capacity bpd will run from lago agrio the centre ecuador jungle oilfields existing colombian pipeline that runs the pacific port tumaco espinosa said the stretch the link built the ecuadorean side cost mln dlrs perry gave figures for colombia segment but said was insignificant compared with what are going earn opec member ecuador was pumping around bpd before the quake lost exports bpd are costing mln dlrs per month espinosa said reuter 
ship	iran says will combat gulf intervention iranian foreign minister ali akbar velayati warned that iran would combat any superpower intervention the gulf iran which the most powerful country the gulf will not allow the superpowers any other foreign forces interfere the region said velayati visiting the united arab emirates the first leg gulf tour told reporters iran had the capabilities and means prevent any interference president reagan has pledged keep the gulf sealanes open and protect kuwaiti tankers from possible iranian attack reuter 
earn	toshiba corp tsba year ended march group shr yen net billion billion pretax billion billion operating billion billion sales billion billion reuter 
cpi	peru consumer prices rise pct may peru consumer price index rose pct may base compared pct april and pct may the national statistics institute said said accumulated inflation for the first five months this year was pct against pct for the same period inflation for the year ending may was pct compared pct for the year ending may reuter 
interest	bundesbank schlesinger says plan cut discount rate nihon keizai newspaper 
gas	singapore petroleum revises petrol pump prices singapore petroleum pte ltd will revise pump prices petrol from june official said grade octane with lead will cents litre against cents previously for lead grade octane will cents against previously spc price revision follows the ministry trade and industry move liberalise petrol pricing allowing oil companies set their own pump prices new grades petrol with lower lead content are sold singapore from today line with the ministry environment regulations reuter 
interest	bundesbank reported have plan for rate cut bundesbank deputy president helmut schlesinger said the west german central bank had plan cut its three pct discount rate nihon keizai newspaper reported the financial daily quoted schlesinger saying interview that the bank would try maintain current interest rate levels for the time being also told the newspaper saw need for large scale intervention the foreign exchange market because exchange rates are stable earlier schlesinger told press conference that the bundesbank would continue its policy maintaining short term interest rates low level for currency stability also said was satisfied with the current dollar mark exchange rate but added that was not certain was ideal for the west german economy reuter 
trade	seoul announces more tariff cuts for south korea will cut import taxes items including construction equipment photographic film cigarettes and pipe tobacco help reduce its trade surplus with the united states the finance ministry said the tariff cuts between five and percentage points take effect july this brings the number goods which import taxes have been cut this year ministry official said the are among about items which washington has asked seoul lower tariffs added today announcement follows saturday removal import curbs products for those products the had had sought free access the south korean market this line with the government policy limit our trade surplus with the united states help reduce trade friction between the two countries the official said south korea trade surplus with the rose billion dlrs from billion officials said the surplus was expected widen further but seoul would try hold below eight billion dlrs the finance ministry said tariffs would cut later this month further items including acrylic yarn and ethylene average percentage points order check inflation the officials said the tariff cuts would contribute holding wholesale and consumer price rises less than three pct this year reuter 
trade	study says tariffs and quotas could backfire the use tariffs and quotas reduce the flow foreign goods into the united states will little cut the nation swelling trade deficit government study said fact the federal trade commission ftc report said such protectionist policies could make products less competitive the world marketplace raising the cost imported products that are exported different forms such policies are much more likely hurt rather than help the productive capabilities the economy said the page report written ftc economists john hilke and philip nelson blamed the rising trade shortfall which climbed record billion dlrs last year shifting currency exchange rates and growing consumer demand other factors commonly blamed for the deficit such foreign trade practices deteriorating industrial competitiveness high labour costs and government restrictions mergers added little the problem said although each industry competitiveness affects the level imports and exports that industry general find that there have been significant industry specific changes affecting competitiveness that would explain the increase the overall trade deficit the study said the extent any government action needed deal with the trade deficits policies should focus economy wide phenomena such exchange rates and relative economic growth the ftc study said supporting its conclusion that broad based economic shifts were the cause the increase the trade deficit the report said found that nearly all industries lost some domestic market share foreign competitors the also said found fairly direct relationship between the increased trade deficit and the influence shifting currency exchange rates economic growth and domestic demand for goods and services which has outpaced foreign consumer demand the study examined seven factors which have been commonly blamed for the trade deficit foreign government subsidies and trade barriers protect foreign industries lack investment industry declining research and development industry high labour costs union work rules the oil prices rises the and antitrust regulations each case the study found little evidence that the factor had any impact the trade deficit reuter 
rubber	tokyo exchange allows more gold and rubber brokers the tokyo commodity exchange for industry tocom said will allow five more members become precious metal brokers taking the total and four more members broke rubber for total exchange official told reuters the ministry international trade and industry expected approve the the new brokers mid june the move has been under study since early may response requests non broker members the exchange reuter 
gold	renison and city resources set png gold venture renison goldfields consolidated ltd rgfj rgc and explorer city resources ltd have agreed principle joint venture examine the bulolo alluvial gold field papua new guinea city resources said city resources would progressively earn pct rgc prospecting authority which covers all the field spending total mln kina said statement said believed bulolo was not fully exploited the past noting the literature refers heavy gold losses tailings during dredging from which produced total mln ounces city resources also said previous dredging was only carried out depth metres and high grade gold values are reported least metres the central part the bulolo valley and possibly deep metres its productive life recovered average grade bulolo was rpt grams tonne from some mln cubic metres gravel said city resources will act operator the bulolo field morobe province was the first successful gold mining operation placer development ltd after was floated canada operated the field until dredging ceased reuter 
ship	moscow says will retaliate against gulf attacks any iranian attack soviet ships the gulf will bring forceful and violent response soviet foreign ministry official said interview published here alexander ivanov head the gulf desk the soviet foreign ministry told rai aam newspaper moscow will answer back with force and violence iran attempts attack any soviet ship tanker the gulf soviet tanker hit mine the gulf last month ivanov also accused the united states stepping the regional crisis and failing exert genuine efforts end the iran iraq war reuter 
gas	mobil raises singapore petrol pump prices mobil oil singapore pte lte will raise pump prices petrol from june spokeswoman said grade octane with lead will cents litre against cents previously for lead grade octane will cents against previously spc earlier announced its pump prices cents and cents for and octane respectively for lead petrol which being sold singapore from today line with the ministry environment regulations reuter 
interest	window for bank aid kuwait remains shut the kuwait central bank kept its window for funds the domestic interbank deposit market shut banks returned from four day holiday dealers said the move drove short term interest rates sharply higher with overnight and tomorrow next funds more than doubling from last wednesday and hitting pct there were few offers tight market and traders scrambled for any available funds one month one year deposits were indicated one point higher eight seven pct but there was little activity the longer end the market bankers see the suspension central bank aid deliberate move drive kuwaiti dinar interest rates and stem flow funds out the country where market nervousness increasing over the growing tension the gulf the central bank move has been combined with steady cut the dinar exchange rate today rate was reduced the dollar from wednesday before the four day bank holiday that celebrated the end the fasting month ramadan reuter 
gas	shell caltex revise singapore petrol prices shell eastern pte ltd will revise pump prices petrol from hours local while caltex asia ltd and singapore pte ltd will revise theirs midnight tonight company officials said caltex and shell will set prices lead cents litre for octane and cents for octane will set prices cents litre and cents respectively previous industry pump prices for lead were cents for octane and cents for octane reuter 
fuel	bangladesh import tons diesel from ussr bangladesh will import tons high speed diesel oil from the soviet union under barter agreement signed here last week bangladesh petroleum corporation officials said the oil worth about mln dlrs will shipped december this year they added but did not say what bangladesh would sell return the soviet union reuter 
crude	pemex official says opec output critical price crude oil prices could remain around dlrs barrel until the end the year but opec decision output its next meeting would the critical factor official mexico state oil company petroleos mexicanos pemex told group japanese businessmen adrian lajous pemex executive vice president international trade said current opec output already appeared very near the mln barrel per day level set itself for the third quarter production surging ahead what was originally planned while demand growing more slowly than envisaged few months ago said said opec had look very carefully what level production the third quarter would effectively sustain the dlrs price and that increase what had originally been envisaged might soften price levels the member cartel scheduled meet june vienna review its december accord prices and output hope opec will follow very conservative attitude terms volume decisions lajous said repetition what happened last year when opec boosted output and sent oil prices tumbling down below dlrs always there possibility said hope never again through the trauma expect other oil exporters have learned their lessons and discipline will maintained said lajous said there was still excess supply and long this remains there will tendency instability oil markets but prices should remain around dlrs during output remains under control said saudi king fahd remarks last month that increased production was not important long incomes would not affected the output were very relevant and welcome from such powerful producer reuter 
acq	coniston group continue bid for allegis aeg investor group led coniston partners said plans continue its effort gain control allegis corp despite the defensive maneuvers allegis announced last week allegis said then that would borrow three billion dlrs and pay shareholders dividend dlrs per share lowering the company net worth the coniston group which owns pct allegis stock has said that would seek shareholder consents remove the allegis directors the group had said would consider breaking allegis into its airline hotel and vehicle rental components succeeded the coniston group said expects make further announcement today its plans for allegis wall street analysts and traders had not expected coniston abandon its pursuit allegis result the allegis defensive measures allegis officials were unavailable for comment reuter 
acq	spectra physics rejects ciba geigy tender offer 
acq	first city industries sells yale and nutone units for mln dlrs and securities 
acq	boeing acquire argosystems for dlrs share 
acq	first city fcy sells yale nutone units first city industries inc said has reached definitive agreement sell its nuton and yale security subsidiaries valor plc for mln dlrs and warrants purchase two mln valor ordinary shares addition the company said will recieve special dividend mln dlrs from nutone and yale and has agreed buy mln dlrs valor convertible preference shares first city said seeking increase shareholder values improving and realizing the values inherent its operating subsidiaries the company said the transaction subject approval shareholders valor and expected completed within days said valor has arranged financing through issue ordinary and convertible preference shares underwritten hoare govette ltd and barclays zoete wedd ltd nutone makes built electric products for the housing market and yale makes door locks and electronic security products valor makes home products reuter 
earn	genovese drug stores inc gdxa qtr may shr cts seven cts net sales mln mln reuter 
acq	national security nsic stake acquired national security insurance said group investors has acquired common shares pct interest for dlrs per share the company said the acquisition the portion the shares over five pct interest subject approval the alabama department insurance said the sellers included atlantic american corp aame bankers fidelity life insurance and georgia casualty insurance reuter 
acq	computer associates acquire uccel corp for about mln dlrs 
tea	sri lankan tea workers launch one day protest thousands tea workers indian origin went strike today press demands for citizenship and voting rights sri lanka union statement said the ceylon workers congress cwc said its members launched prayer campaign temples and other places non violent protest get the authorities expedite citizenship procedures cwc spokesman said three day campaign was suspended after cabinet committee promised speed procedures under new set regulations trade sources said the strike did not affect production today colombo auction reuter 
cocoa	dutch cocoa processors unhappy with icco buffer dutch cocoa processors are unhappy with the intermittent buying activities the international cocoa organization buffer stock manager industry sources told reuters the way operating the moment doing almost nothing support the market fact could said actively depressing one company spokesman said including the tonnes acquired friday the total amount cocoa bought the buffer stock manager since recently began support operations totals tonnes despite this buying the price cocoa well under the special drawing rights sdrs tonne level below which the bsm obliged buy cocoa off the market even before started operations traders estimated the manager would need buy least his tonnes maximum before prices moved above the sdr level and yet appears reluctant one manufacturer said all hoped the manager would move into the market buy tonnes fairly short period and then simply step back added the way the manager only nibbling the edge the market the moment actually depressing sentiment and the market because everyone holding back from both buying and selling waiting see what the manager will next one processor said long his buying tactics remain the same the market likely stay the doldrums and see indication about alter his methods added processors and chocolate manufacturers said consumer prices for cocoa products were unlikely affected buffer stock buying for some time come reuter 
acq	entertainment marketing seeks buy crazy eddie for eight dlrs share 
acq	spectra physics spy board rejects tender offer spectra physics inc said its board rejected dlrs per share unsolicited tender offer for the company stock from ciba geigy ltd cigz which already holds pct the stock spectra physics said also filed lawsuit delaware federal court this morning seeking enjoin the offer and alleging among other things that the offer vilates federal securities laws certain agreements between ciba geigy and spectra physics and ciba geigy fiduciary duties spectra physics said the two ciba geigy designess its board were not present yesterday special meeting which voted reject the offer financially inadequate unfair and not the best interests spectra physics its stockholders the company said the board also authorized special committee outside directors take whatever steps deems necessary protect the interests spectra physics and its stockholders and investigate all alternatives maximize the value the stock including talks with third parties spectra physics said letter communicating the board recommendation and reasons therefore being mailed stockholders said robert bruce reliance group holdings inc rel designee spectra physics board resigned his position may his letter resignation said the action was alleviate ciba geigy stated justification for making the unsolicited offer that had not contemplated another significant investor having representation the board when its spectra physics investment was made reuter 
acq	boeing acquire defense electronics firm boeing and argosystems inc argi said they reached agreement for boeing acquire the sunnyvale calif defense electronics firm for about mln dlrs the boards both companies have approved the merger which will accomplished through tender offer boeing subsidiary dlrs share cash for all argosystems shares the companies said under the agreement the boeing subsidiary tbc holdings corp will begin the tender offer promptly least pct the shares are not tendered the offer will prorated pct the companies said argosystems has granted boeing option buy shares pct the outstanding stock for dlrs share they said also bill may chairman argosystems and three other officers have granted boeing option buy their shares another pct the outstanding stock for dlrs share argosystems makes equipment monitor and analyze military communications signals electronic warfare equipment monitor and jam radar signals and signal processing systems for the nine months ended march argosystems reported earnings more than doubled mln dlrs cts share from mln dlrs cts the year ago period included mln dlr charge from writedown securities sales rose pct mln dlrs sales are expected exceed mln dlrs for the fiscal year ending june the companies said joint statement the company backlog currently more than mln dlrs they said has about employees about pct argosystems business comes from international customers argosystems clear leader its field this association will expand our overall activities and significantly enhance our ability compete the defense electronics area boeing president frank shrontz said statement argosystems will operate wholly owned subsidiary boeing the merger following the tender offer will subject approval argosystems shareholders the companies said the tender offer and merger are subject customary conditions and expiration the hart scott rodino notification waiting period they said reuter 
acq	computer associates uccel set merger computer associates international inc and uccel corp uce said they have signed definitive merger agreement under which computer associates will pay about mln dlrs stock for all outstanding uccel shares the companies said under the terms the agreement all uccel shareholders will receive about shares computer common stock for each the approximately mln uccel shares outstanding according the companies this would amount about dlrs per uccel share based may new york stock exchange closing prices closing the transaction anticipated august the companies said the companies said the resulting company wil retain the name computer associates international inc additionally the companies said charles wang currently computer associates chairman and chief executive will continue chairman the new company reuter 
trade	seoul announces more tariff cuts for south korea will cut import taxes goods including construction equipment cigarettes and tobacco help reduce its trade surplus with the united states the finance ministry said today the tariff cuts between five and pct will take effect july south korea ran trade surplus billion dlrs with washington sharply from billion today announcement brings the number goods for which similar measures were taken this year ministry official said the are among about items which washington has asked seoul lower tariffs this line with the government policy limit our trade surplus with the united states help reduce trade friction between the two countries said the official reuter 
acq	entertainment makes buyout offer crazy eddie entertainment marketing inc said has made offer the board crazy eddie inc acquire all outstanding shares crazy eddie inc for eight dlrs share cash entertainment said the offer would conducted through negotiated merger with new corporation formed entertainment marketing entertaiment said has requested early meeting with crazy eddie inc board and that has committed mln dlrs toward the purchase the shares including those already purchased the company also said has retained dean witter reynolds inc assist raising the balance the financing according entertainment its company and its chairman own about pct crazy eddie currently outstanding shares additionally the company said willing negotiate all aspects its offer and willing consider transaction which would tax free crazy eddie shareholders reuter 
acq	society for savings socs forms parent society for savings bancorp inc said has completed its previously announced plan acquisition making new delaware chartered bank holding company the parent conneticut chartered society for savings reuter 
crude	saudi renegotiation aramco deal moving along saudi arabia renegotiation its collective agreement with aramco purchase oil for the latter partners moving along and should lead fundamental structural change the contract oil industry sources said petroleum intelligence weekly this monday edition said negotiations are moving along for adjustment the mln bpd joint long term agreement official prices and volumes and other terms may rearranged the agreement signed january for the months from february june for renegotiation under the january contract aramco was purchase mln bpd for the four partners allocated among them exxon corp xon bpd texaco inc bpd mobil corp mob and chevron corp chv bpd between them but overlifting texaco inc the first quarter allowed other companies like exxon corp underlift its obligations under the contract piw said that that one alternative under consideration revert four individual contracts rather than collective agrement john lichtblau director the petroleum industry research foundation inc said that renegotiation the pact was more formality the saudis have each company separate schedule although separate agreements with the companies would favor one one negotiations and ensure that contracted liftings occur the companies will probably follow the saudi wants within limits they not want antagonize them for the long haul said lichtblau said that the renegotiations would most likely concentrate volume rather than price saudi displeasure with the agreement has long been noted and april industry publications said that renegotiation were being sought fact later confirmed reuters with aramco aramco corp was formerly owned chevron corp chv exxon corp xon mobil corp mob and texaco inc but now owned saudi arabia which bought its assets although the partners have various agreements with saudi arabia reuter 
money-fx	money market given mln stg late assistance the bank england said provided the money market with late assistance around mln stg this takes the bank total help today some mln stg and compares with its latest forecast mln stg shortage reuter 
acq	cpc international cpc completes asian sale cpc international inc said has completed previously announced transactions involving its grocery products businesses four asian countries with ajinomoto inc ajin raising about mln dlrs said will receive about mln dlrs more later mostly this month when closings are expected three more countries proceeds will used mostly for debt reduction cpc said ajinomoto has purchased its equity knorr foods ltd joint venture japan between the two companies with cpc get fees for trademark and technology use cpc said ajinomoto also purchasing pct interests cpc wholly owned subsidiaries hong kong malaysia the philippines singapore taiwan and thailand reuter 
acq	borden acquire prince for about mln dlrs 
acq	porex porx merge with medco mccs porex technologies corp said has agreed merge with its partly owned subsidiary medco containment services inc deal worth about mln dlrs cash and common stock porex shareholders the company said under the agreement prex holders would receive new medco shares representing pro rata share the medco shares now owned porex plus pro rata shares the cash value other porex assets which estimated mln dlrs subject adjustment medco now has mln shares outstanding while exact terms may not determined until the transaction becomes effective porex said each porex share expected exchanged for medco share and dlrs cash subject approval sharehoilders both companies part the deal medco will split its stock five for two the company said the merger will accounted for corporate reorganization and recorded historical book values reuter 
acq	colt industries cot sell british unit colt industries inc said signed conditional agreement sell its woodville polymer engineering ltd subsidiary great britain the dowty group plc gloucestershire england for mln stg the deal scheduled close the end june the company said woodville which makes high technology precision products for aerospace automotive and other industries had sales about mln stg said reuter 
earn	advanced systems inc asy qtr april net shr cts cts net revs mln mln avg shrs six mths shr cts cts net revs mln mln avg shrs reuter 
earn	mannville oil and gas ltd mog qtr net shr two cts seven cts net revs reuter 
earn	house fabrics inc qtr net april shr cts cts net revs mln mln reuter 
earn	orbit oil and gas ltd orb qtr net shr three cts three cts net revs avg shrs reuter 
acq	video juke buy president shares video jukebox network inc said signed letter intent purchase mln shares the four mln shares the company common stock from its founder and president steven peters video said the shares are purchased louis wolfson iii senior vice president venture inc national brands inc patrick michaels and cea investors partnership video said currently has shares common stock outstanding the company said went public earlier this year and its current ask price was cea investors partnership has planned the partnership operated michaels who chairman and president communications equity associates inc media brokerage firm video said the terms the proposed transaction were not disclosed video said peters will continue chairman and president the company said the parties have until june agree all terms the letter intent reuter 
earn	berkshire gas bgas raises payout qtly div cts cts prior pay july record june reuter 
earn	marcade group inc mar qtr may net shr four cts cts shr diluted two cts cts net revs mln mln avg shrs avg shrs diluted reuter 
earn	greenman bros inc gmn qtr may loss shr loss cts loss cts net loss loss sales mln mln note year ago share results adjusted for five for four stock split august reuter 
acq	marcade group mar plans acquisition marcade group inc said has agreed principle acquire prominent privately held maker ladies sports wear for cash shares and options purchase marcade common valued about mln dlrs its fiscal year recently ended marcade said the company acquired which owns five manufacturing facilities and one offshore had revenues over mln dlrs and pretax earnings about four mln dlrs reuter 
acq	pennsylvania enterprises pent bid stands utilities investment inc said still offering acquire pennsylvania enterprises inc for dlrs per share said prepared negotiate its offer the pennsylvania enterprises board rejected the offer two weeks ago being inadequate utilities said has the financial commitments required ensure that pennsylvania enterprises facilities would upgraded insure adequate supply safe drinking water said its representatives will attending pennsylvania enterprises annual meeting tomorrow wilkes barre reuter 
pet-chem	dow chemical dow increase prices dow chemical midland said will increase prices its high performance thermal fluids bulk and drums effective july one for contract and spot customers the bulk list prices for diphenyl oxide both technical and refined grades will raised five pct dlrs per pound for technical and dlrs per for refined dow said other increases include dowtherm dlrs per gallon dowtherm dlrs per gallon dowtherm dlrs per gallon and dowtherm dlrs per gallon reuter 
acq	merrill lynch says proration factor for supermarkets tender pct 
cocoa	brazil not selling cocoa buffer stock trade brazil not selling cocoa beans the international cocoa organization icco buffer stock spot prices for beans the interior area are pct higher than levels which would paid the icco buffer stock manager trade sources the major producing state bahia said the scarcity beans because the effects drought the current temporao harvest has pushed prices well above international levels the sources noted the only buyers are bean exporters local processors covering previously contracted commitments they added sales were made they would executed individual exporting companies which are members the brazilian cocoa trade commission they said reuter 
acq	raven industries rav buys truck body business raven industries inc said purchased the utility truck body business astoria fibra steel inc for cash details the transaction were not disclosed the astoria product line which has annual sales about mln dlrs will manufactured and sold raven newly formed subsidiary astoria industries inc raven said its glasstite inc subsidiary also manufactures and sells utility truck bodies reuter 
acq	pay pak pnp gets two offers for company pay pak stores inc said received two proposals response its previously announced solicitation potential buyers for the company the company said evaluating the proposals from paul bilzerian and from third party which active the leveraged buyout field but which pay pak declined identify said the bilzerian proposal calls for shareholders receive blended basis dlrs cash and dlrs liquidation value cumulative exchangeable redeemable preferred stock for each common share pay pak said the second proposal structured merger which each holder would receive combination dlrs cash and dlrs liquidation value pct cumulative preferred the company said the dividend the preferred offered bilzerian would set that the opinion his financial advisor and the company financial advisor the preferred would trade the public market its liquidation value dividends the preferred could paid the option the surviving corporation cash additional shares preferred for the first five years added pay pak said bilzerian proposal subject physical inventory merchandise june bilzerian did not provide details with respect financing his proposal which not subject financing condition the company said dividends the preferred being offered the second proposal would paid additional preferred the first three years and the preferred would redeemed years and said the second offer contingent the arrangement financing adding the party making the offer confident its ability obtain the balance the financing pay pak said the second proposal conditioned upon satisfactory agreement with the company management regarding its equity participation the new company the second party anticipates executing letter intent when delivers its financing commitment the pay pak board that would incorporate expense reinbursement and option arrangement the company said reuter 
acq	maxwell files suit stop harcourt hbj publisher robert maxwell british printing and communicaton corp plc said filed lawsuit district court against harcourt brace jovanovich inc its directors and advisers stop among other things payment the special dividend harcourt paying part its recapitalization the suit filed manhattan also names first boston corp fbc and seeks void the issue harcourt shares super voting preferred stock first boston securities corp and the issue convertible voting preferred stock with votes the harcourt employee stock ownership plan the preferred shares issued first boston have votes the suit brought derivatively behalf harcourt and individually british printing capacity substantial holder harcourt common shares and pct convertible debentures the suit alleges harcourt special dividend exceeds more than one billion dlrs harcout surplus available for dividends under new york law and contstitutes fraudulent conveyance the lawsuit also alleges that harcourt failed disclose that one consequence the payment the dividend which terms illegal will that shareholders will liable repay harcourt last week said would pay dlrs per share stockholders special dividend harcourt also announced extensive recapitalization plan which analysts said was aimed thwarting takeover effort british printing british printing last week withdrew its dlr per share two billion dlr offer for harcourt because the recapitalizaton plan the time said was reviewing its alternatives british printing said filed the suit after consultation with its advisers its lawsuit also alleges that harcourt failed disclose the effect the special dividend harcourt pct convertible debentures british printing alleges the effect will enormous increase effective the june eight record date for the dividend the number harcourt common shares issuable upon conversion the debentures british printing also charged harcourt unlawfully coercing debenture holders convert denbentures before the record date because harcourt may not have enough authorized common shares honor conversion after the date british printing holds shares and mln dlrs worth debentures the suit also alleges that management the board directors and first boston engaged illegal scheme entrenchment through combination selling first boston securities corp the super voting preferred bargain price the grant the company employee stock plan convertible voting preferred the six mln share open market repurchase program and the manner which its financing has been structured reuter 
acq	steinberg group has five pct pizza inn pza group controlled new york investor saul steinberg told the securities and exchange commission has acquired shares pizza inn inc pct the total outstanding common stock the group which includes reliance financial serivces corp subsidiary reliance group holdings inc rel said bought the stock investment said might add its stake sell some all the steinberg group said bought the stock for mln dlrs open market purchases between april and may prices ranging from dlrs share reuter 
acq	supermarkets general sgl tender expires smg acquisition corp subsidiary merrill lynch capital partners inc said mln shares supermarkets general corp were validly tendered the midnight friday expiration resulting preliminary proration factor pct merrill lynch said expects announce the final proration factor within business days and begin payment immediately thereafter shares validly tendered represented about pct the outstanding shares supermarkets general the announcement said the cash tender offer was for mln shares dlrs net per share reuter 
crude	opec output may seen over ceiling mln bpd london june opec may output appears have risen well above its mln bpd ceiling mln bpd and the increase likely put short term lid spot oil prices kleinwort grieveson securities says but kleinwort latest world oil report said stocking and lower non opec output earlier this year should allow the group produce mln bpd the current third quarter the supply demand front the market continues enjoy degree stability rarely seen recent years said said most opec members were overproducing slightly but only the united arab emirates uae was seriously above quota the report said saudi arabia had been sending clear signals the need maintain oil prices current levels around dlrs barrel and adopt provisional output rises agreed december when opec meets vienna june opec adopts the provisional ceilings mln bpd third quarter and mln bpd the fourth there will probably room for overproduction the third quarter when demand for its crude will probably mln said said that the uae and ecuador may demand higher quotas vienna but the biggest obstacle iraq which has refused honour its quota less than that gulf war enemy iran but opec appears committed short meeting and realises something must done about the iraq issue the report said according kleinwort sources saudi arabia has already held separate talks with iran and iraq and urging iraq more moderate one strong indication that some kind deal may eventually worked out the almost complete silence coming from iran said indications are that return for going along with the saudi desire maintain official prices vienna iran seeking concessions from the kingdom the iraq issue said kleinwort said the kingdom will face increasingly uphill task trying maintain prices around dlrs beyond firstly opec hardliners led iran are bound oppose such move secondly other opec members will press for another price rise the dollar remains weak against other currencies thirdly saudi arabia may forced raise prices earlier than intended ward off growing calls for higher prices from the stimulate domestic drilling and exploration the report concluded that there strong possibility official opec prices will rise dlrs barrel end and dlrs barrel end reuter 
acq	suburban bancorp woodstock bancorp merge suburban bancorp inc and woodstock state bancorp inc said they agreed merger under which suburban will purchase woodstock shares for total more than mln dlrs cash and suburban bancorp shares woodstock the holding company for the mln dlr state bank woodstock the merger will bring suburban assets mln dlrs and its total banks the merger subject regulatory and shareholder approval reuter 
interest	bankers consider new ecgd financing plan representatives major based banks are meeting here today consider new plan for reducing the cost financing british exports guaranteed the export credits guarantee department ecgd senior banking sources said the plan being developed conjunction with the ecgd and the bank england neither the ecgd nor the bank england would comment the plan however bankers said one the main points under discussion plan refinance the bulk the ecgd medium term credit portfolio the international capital markets the proposals involve introducing set interest margins ecgd backed debt pct depending the size and maturity the credit and the currency the banks are likely push for higher margin bankers said that while these rates would reduce bank return they would still more than those proposed about year ago when the government attempted unsuccessfully initiate another cost reduction plan the same time the banks would expected allow the ecgd realise additional savings refinancing existing government backed credit the capital markets credits that are refinanced original lender would receive residual margin pct for loans mln stg and pct larger transactions reuter 
acq	coke consolidated coke sell canada unit coca cola bottling consolidated said has agreed principle sell its vancouver based canadian bottling subsidiary coca cola for undisclosed terms with closing expected within days subject regulatroy approvals the company said the sale previously announced agreement for coca cola buy coke consolidated common shares and operating cash flow should allow reduce its long term debvt about nmln dlrs from mln dlrs the end the first quarter reuter 
acq	campeau cmp unit sell garfinckel campeau corp said its allied stores corp entered into definitive agreement sell its garfinckel division raleigh stories corp for mln dlrs the transaction expected close july the company said garfinckel net sales for fiscal were mln dlrs the company said campeau said expects sell its remaining allied divisions the near future campeau announced its first agreement sell allied unit april the company said reuter 
acq	wallace computer wcs buy office products firm wallace computer services inc said acquired for mln dlrs cash and industrial revenue bonds certain assets rockwell barnes inc chicago based office products company reuter 
acq	sun sun acquire more wyoming field wolverine exploration said substantially all the material aspects the agreement sell its pct working interest the luckey ditch unit unita county wyo sun inc have been satisfied closing the transaction scheduled for june eight wolverine said the company agreed sell its interest for dlrs subject downward adjustment for certain title and state requirements sun already owns pct working interest the unit reuter 
earn	consolidated professor cpf qtr net shr profit one nil net profit loss revs note full name consolidated professor mines ltd reuter 
acq	geodyne geod sets warrants acquisition geodyne resources inc said iit filed registration with the securities and exchange commission covering planned offering mln warrants buy its common the company also said its board evaluating proposal acquire closely held snyder exploration for one mln geodyne shares members geodyne senior management also serve senior management snyder and painewebber group inc pwj which owns pct geodyne mln outstanding shares has substantial equity interest snyder the acquisition being evaluated geodyne board members not employed the company painewebber any company affiliated with painewebber will subject approval the board and series preferred shareholders geodyne resources said registration related the stock exchanged for snyder has been filed with the sec but has not yet become effective the snyder owners other than painwebber are geodyne president michael tomasso and its executive vice president james snyder the company said the warrants will offered solely investors the painewebber geodyne energy income program for every dlrs invested the program investor will entitled buy one warrant purchase one geodyne common share price equal pct the average closing price the stock for the trading days prior formation the partnership which the investor subscribes adddition geodyne said painewebber investment executives who market the program will entitled receive one warrant for every dlrs subcriptions generated after four year vesting period these warrants would have exercise price equal pct the day average the company said the warrants are currently priced cts each but this price suject further evaluation independent underwriter reuter 
earn	detection systems detc year end march shr cts nil net revs mln reuter 
earn	bildner and sons inc jbil qtr shr one nil net revs reuter 
crude	compromise seen likely over conoco statoil dispute norway expected seek compromise solution defuse row between den norske stats oljeselskap stat statoil and conoco norge over which firm will operate the heidrun oil field government sources said the sources who asked not named said the government will likely recommend that conoco allowed continue the field operator through the development phase with statoil taking over only after production starts the early oil minister arne oeien told reuters the government had today discused the heidrun matter but that final decision had been taken and several questions remained unresolved was unlikely the government would announce its decision heidrun operatorship until after thursday cabinet meeting and after discussing proposed solution with both companies the sources added this spring norway state owned oil company statoil exercised option the heidrun field exploration license that approved the government would allow relieve conoco heidrun operator move sharply criticised conoco heidrun often cited the government and industry the most likely candidate for the first field development project the haltenbanken exploration tract off central norway reuter 
earn	fiat unit fidis reports sharply higher profit year net profit billion lire billion ordinary share dividend lire note finanziaria sviluppo spa financial services subsidiary fiat spa fiat said statement that shareholders approved previously announced nominal share capital increase from billion lire billion reuter 
gold	northgate quebec gold workers end strike northgate exploration ltd said hourly paid workers its two chibougamau quebec mines voted the weekend accept new three year contract offer and returned work today after one month strike said the workers represented united steelworkers america would receive dlr hour pay raise over the life the new contract and improved benefits northgate which produced ounces gold first quarter said that while the strike slowed production are still looking forward very satisfactory performance the chibougamau mines produced ounces gold last year reuter 
acq	royal gold rgld agrees make acquisition royal gold inc said has signed two agreements principle acquire the stock two transwestern mining units for mln shares royal gold common stock royal said the assets the units will acquire from transwestern are mostly gold properties added expects close the deals june and subject standard closing conditions including title and environmental approval and closing definitive agreement royal said the shares issued the deal will subject registration rights reuter 
earn	hawkins chemical inc hwkn qtr mar net shr cts six cts net sales six mths shr cts cts net sales mln mln note per share earnings adjusted for ten pct stock dividend paid february reuter 
gold	northgate ngx quebec workers end strike northgate exploration ltd said hourly paid workers its two chibougamau quebec mines voted the weekend accept three year contract offer and returned work today after one month strike said the workers represented united steelworkers america would receive dlr hour pay raise over the life the new contract and improved benefits northgate which produced ounces gold first quarter said that while the strike slowed production are still looking forward very satisfactory performance the chibougamau mines produced ounces gold last year reuter 
jobs	portuguese unemployment steady first quarter unemployment portugal held steady pct the first quarter after the same rate the last quarter the national statistics institute said this compared with pct unemployment the first quarter the total number registered unemployed the first quarter this year was reuter 
acq	partnership ups hbo hboc stake pct andover group great falls investment partnership that seeking control hbo and said raised its stake the company shares pct the total from shares pct filing with the securities and exchange commission the partnership said bought hbo common shares for mln dlrs may the group which has slate candidates seeking board seats said would decide whether submit offer acquire the company after the hbo annual shareholders meeting which was have been april but was postponed reuter 
acq	humana hum buy int medical assets humana inc said florida judge approved previously announced proposal for the company buy certain assets international medical centers which had been declared insolvent and put into receivership early may humana said will pay mln dlrs the state department insurance pay prior claims and mln dlrs working capital reuter 
acq	diversified industries dmc sell units diversified industries inc plans recover more than four mln dlrs from the sale two marginal subsidiaries chairman ben fixman told the annual meeting fixman said diversified industries part its effort redeploy assets wants sell its theodore sall inc and liberty smelting works ltd units the two either lost money had marginal profitability recent years said diversified also said the process obtaining six mln dlrs industrial revenue bond financing from the state connecticut modernize the company plume and atwood brass mill plant thomaston conn reuter 
acq	insurance firm piezo pepi preferred stake corporate life insurance west chester insurance firm told the securities and exchange commission has acquired shares preferred stock piezo electric products inc pct the total corporate insurance said bought the cumulative convertible preferred stock stake for dlrs for investment purposes reuter 
acq	cellular inc cels sell unit take gain cellular inc said reached definitive agreement sell assets its wholly owned michigan cellular inc century telephone enterprises inc ctl and add cts share the year earnings result said the sale subject regulatory approval represents capital gain excess dlrs over the original price paid cellular for its cellular interests michigan acquired december reuter 
earn	comptek research inc cmtk qtr march shr cts four cts net sales mln year shr cts cts net sales mln mln reuter 
acq	dotronix dotx completes acquisition dotronix inc said completed the acquisition video monitors inc for mln dlrs video monitors privately owned wisconsin based manufacturer video display and and video monitor devices reuter 
earn	dataflex corp dflx qtr march net shr cts eight cts net revs year shr cts cts net revs mln note share adjusted for pct stock dividend april reuter 
earn	polydex pharmaceuticals ltd polxf qtr april end shr loss one loss two cts net loss loss sales reuter 
acq	clark copy buys norwegian firm clark copy international corp said bought norwegian drafting machines company for three mln dlrs clark copy said its majority owned norwegian subsidiary interactive computer aids norway purchased kongsberg drafting systems division norwegian state owned kongsberg vappenfabrikk kongsberg drafting annual worldwide sales are about mln dlrs clark copy said reuter 
acq	society savings socs forms holding company society for savings said has completed merger into newly formed holding company society for savings bancorp inc share for share basis reuter 
earn	geodyne resources inc geod qtr feb shr profit three cts profit cts net profit profit revs avg shrs year shr loss eight cts profit six cts net loss profit revs avg shrs note share results after preferred dividend requirements dlrs dlrs quarter and dlrs dlrs year company pct owned painwebber group inc pwj reuter 
acq	ladd furniture ladf completes acquisition ladd furniture inc said has completed the previously announced acquisition privately held colony house furniture inc for undisclosed amount cash and notes reuter 
iron-steel	ministers consider cutbacks steel support new steel quota system that would strictly limit european community support the industry could forced producers they fail find their own solution quickly officials said industry ministers meeting here considered two key proposals aimed cutting back surplus capacity mln tonnes the first would limit the current quota system which has protected output for seven years only flat products and heavy sections thereby forcing other types steel products into free market competition the second proposal would link continuation quota system with progress toward plant closures although less than month ago the steelmakers lobby group eurofer said they had abandoned efforts close plants voluntarily the ministers stopped short imposing their own solution immediately instead urging steel producers try again reach agreement voluntary cutbacks the commission has said will come with detailed proposals july the future the steel industry and industry ministers meet again september reach final decision reuter 
acq	philip crosby pcro makes acquisition philip crosby associates inc said has agreed acquire process integrity inc dallas computer software designer for undisclosed terms said process software helps companies monitor industrial processes identifies problems and recommends solutions reuter 
acq	peerless manufacturing pmfg sells unit peerless manufacturing said has sold its industrial sensors and instruments division and panhandle equipment subsidiaries for total dlrs cash said the transaction will result loss about dlrs cts per share which will take the fourth quarter ending june peerless said due the sale will probably have loss for the year said sold the units buyers did not name due increasing losses caused the depressed petroleum equipment market peerless earned dlrs cts per share fiscal said the units being sold lost cts per share the first nine months fiscal and cts all fiscal reuter 
acq	hicks and haas group gets financing for spectradyne acquisition 
earn	united tote inc tote qtr april shr profit four cts profit three cts net profit profit revs mln mln six months shr profit four loss seven cts net profit loss revs mln mln note first half includes revnues new racetrack operation reuter 
lumber	canada lumber exports may become unprofitable canada softwood lumber will become unprofitable for some forest product producers prices decline about dlrs per thousand board feet two four inch lumber from current levels about dlrs canadian forest industry council chairman adam zimmerman told reporters zimmerman reiterated profitability has been hurt move canadian negotiators impose last january pct export tax softwood lumber shipped the exchange for lumbermen lobby dropping its request for countervail duty think that there has been falling off the market think there moderate slow down the price now zimmerman said media briefing zimmerman said the adverse impact from lower lumber product prices would felt lumber mills eastern canada first migrating westward the country has swallowed time bomb and will off when times get tough zimmerman said also said the federal government should maintain the existing pct export tax and not allow provinces offset the tax with increased provincial fees for cutting lumber reuter 
acq	semicon tools inc making acquisition semicon tools inc said has signed letter intent acquire majority interest privately held east coast sales distributor and fabricator technical ceramic products and disposable clean room materials and supplies terms were not disclosed said expects acquisition result substantial sales increase reuter 
acq	safety kleen completes acquisition safety kleen corp said completed the acquisition pct interest breslube enterprises for about mln dlrs stock and cash breslube based toronto collects used lubricating oils from auto garages car dealers and other businesses and refines for resale its annual revenues are about mln dlrs reuter 
acq	hicks haas group has spectradyne spdy funds spi holding inc group consisting hicks and haas and acadia partners said has received commitments for the senior bank financing needed complete its proposed acquisition spectradyne inc for dlrs share cash securities total about mln dlrs the transaction was conditioned the arrangement financing today said has also executed multi year employment and non competition agreements with five spectrayne senior managers reuter 
alum	alcoa raising prices aluminum beverage can stock eight pct 
acq	computer assoc bolsters hand against ibm computer associates international inc mln dlr merger with uccel corp uce will eliminate its strongest rival but the company still faces stiff competition from international business machines corp ibm wall street analysts said ibm still the ruling force mainframe systems software said scott smith analyst with donaldson lufkin and jenrette but the combination the two companies will clearly present much stronger front said besides ibm computer associates will far and away the most powerful company the field added hutton analyst terence quinn that field segment the market known system utilities software packages that boost the productivity company data processing facilities increasing the speed power and efficiency large mainframe computers the merger uccel and computer associates combines the two biggest systems utilities suppliers other than ibm analysts said the remaining players are mostly small firms that will find the competition much harder than the past for computer associates the merger with uccel caps six year acquisition campaign that has vaulted the garden city based company the top the software industry when the deal completed sometime august the company revenues will exceed mln dlrs pushing past microsoft corp mfst the world largest independent software vendor computer associates founder and chairman charles wang took the company public and since then has bought companies and boosted annual sales from mln mln dlrs for the year ended march liemandt took charge wyly sold off its non computer businesses and decided that would focus solely mainframe computer software the company was renamed uccel corp liemandt who said will leave the company after the merger completed also turned acquisitions for growth the last day uccel completed the buyouts six companies for total about mln dlrs for earned mln dlrs dlrs share sales mln dlrs the agreement took industry analysts surprise largely because the companies had been such bitter rivals also dallas based uccel had engineered strong comeback from the dark days when wyly corp lost mln dlrs cts share that time wyly owned potpourri different businesses only three which were involved computer software walter haefner swiss financier and major wyly investor lured gregory liemandt away from his job chairman general electric computer services unit computer associates wang and uccel liemandt said news conference that the merger would give computer users single source for wide range software products addition system utilities computer associates also sell products for microcomputers while uccel has made inroads the applications software market where analysts said has been successful with accounting and banking systems wang said computer associates would continue support and enhance both companies product lines but noted that the company will eventually weed out duplicate offerings said about pct the companies products overlap analysts said the merger would dilute the holdings current computer associates shareholders about pct but they joined wang forecasting that the deal will not dilute computer associates earnings for the current fiscal year quinn hutton said wang has proven track record completing acquisitions without earnings dilution therefore said would not change his earnings estimate dlrs share wang said would look closely the combined operations the two companies and cut duplication sales marketing and research and development analysts said computer associates paid premium for uccel based friday closing price the company will swap dlrs worth its stock for each uccel share which nearly times uccel estimated earnings dlrs share stephen mcclellan merrill lynch research said most software companies are currently valued about times per share earnings but the analyst said uccel was worth the premium because its earnings potential and customer base wang said haefner the swiss investor would hold about pct computer associates stock after the merger currently owns pct uccel the executive said the merger would not alter his target maintaining sales and earnings growth pct pct addition said expects problems having the deal cleared the antitrust division the justice department uccel liemandt declined say what will after the merger but did not rule out working together with wang reuter 
acq	maxwell would not renew bid suit fails british press magnate robert maxwell said his british printing and communication corp plc would not renew its bid for harcourt brace jovanovich inc hbj the lawsuit filed against harcourt new york today fails speaking press conference maxwell denied market rumors that british printing had approached british institutions arrange rights issue with view relaunching its bid for the publishing concern don believe chasing mirages maxwell said british printing filed suit district court manhattan block what maxwell called fraudulent recapitalization announced harcourt last week harcourt response hostile two billion dlr takeover proposal from maxwell planned recapitalization that would pay shareholders dlrs per share under the plan also said pct its shares will controlled its employees management and its financial adviser first boston corp fbc reuter 
alum	alcoa raising prices aluminum beverage can stock eight pct 
earn	grand union qtr march net net sales mln mln year net mln mln sales billion billion note twelve and week periods generale occidentale subsidiary prior year net both periods includes dlr pretax charge for store closings year net includes pension gain dlrs charge dlrs due change pension accounting income tax rate for year pct pct due abolition investment tax credits elimination investment tax credits approximately offset gain from change pension accounting company said reuter 
acq	video vvco first national merger video vending corp said completed acquiring first national telecommunications inc from first national entertainment corp for about mln controlling interest video vending shares pursuant the transaction harvey seslowsky and william hodes resigned from video board and were replaced four members first national reuter 
cocoa	cocoa origins dismayed buffer stock action traders recently returned from west africa say some producers there are dismayed the ineffective action far the international cocoa organization icco buffer stock manager buffer stock purchases one trader said some west african producers are annoyed the buffer stock manager not playing his part required the international cocoa pact stabilise prices from current lows far only tonnes second hand cocoa have been taken for buffer stock purposes and this traders noted only intermittent basis they noted the purchases tonnes the first week bought and the second are well short the limitations more than tonnes one day and one week which the cocoa agreement places him the traders recently returned from west africa say producers there are unhappy about the impact cocoa prices far noting producing countries are part the international cocoa pact and deserve the same treatment consumers london traders say terminal market prices would have gain around stg tonne take the icco day average indicator its sdr per tonne midway point reference price however little progress has been made that direction and the day average still well below the sdr lower intervention level from previously the buffer stock manager may announce today will making purchases tomorrow although under the rules the agreement such action not automatic traders said complaints about the inaction the buffer stock manager are not confined west african producers they observed reuter report from rotterdam quoted industry sources there saying dutch cocoa processors also are unhappy with the intermittent buffer stock buying activities london traders expressed surprise that more than tonnes cocoa has been bought far against total potential purchases under the new agreement tonnes carryover holdings from the previous international cocoa agreement the stock total tonnes terminal prices today rose stg tonne from friday close basis july its high seems that when the buffer stock manager absent from the market prices while when declares his intention buy quite often the reverse applies traders said reuter 
acq	rapid american completes mart store buy privately held rapid american corp said has completed the previously announced acquisition kresge and jupiter stores from mart corp the company said plans operate the stores mccrory five and variety stores and close the others the end july reuter 
earn	hughes supply inc hug qtr april net shr cts cts shr diluted cts cts net sales mln mln note average shares pct primary basis reuter 
acq	total health tlht make acquisition total health systems inc said has agreed acquire comed inc denville health maintenance organization with over subscribers for undisclosed amount cash the assumption liabilities and the provision mln dlrs equity and debt financing the company said the acquisition subject regulatory approvals said comed had revenues mln dlrs and earnings dlrs and had revenues for the first four months mln dlrs pct from year before reuter 
acq	united asset uam completes acquisition united asset management corp said has completed the acquisition rice hall james and associates san diego for undisclosed terms said rice hall manages investments for institutions and individuals and has about mln dlrs assets under management currently reuter 
acq	computerland acquired investor group computerland corp said investor group led the financial services firm warburg pincus and inc has agreed acquire computerland business computerland privately held company said the world largest retailer personal computers declined provide details the arrangement but the company said expects close the acquisition over the next days announcing the transaction computerland said the acquisition will provide with resources and support maintain and expand its leadership position the computer retail industry computerland also said its network retail sales totalled billion dlrs reuter 
acq	bilzerian says pay pak signs merger accord will tender for mln shares 
acq	piosec pio acquires semiconductor stake piosec technology ltd said exchanged mln common shares for pct privately owned alliance semiconductor corp santa clara calif followin the acquisition piosec spokesman said the company has mln shares outstanding reuter 
tin	tin traders response muted futures market european free market tin traders made somewhat muted response plans for kuala lumpur dollar based tin futures market due launched october traders said the new market would probably useful trading medium for japan and other south east asian tin interests although european traders generally appear reasonably satisfied with the current free market system which has been operating since london metal exchange lme tin trading ceased october dealers here will also want see how acceptable foreign metal will the new market and what sort demand develops for forward deliveries there also view among european traders that while the proposed kuala lumpur tin futures market would provide another useful reference point market inaugurated the malaysian government the past viewed major player times the trade would make participants uncomfortable some traders expressed preference for resumption trading the london metal exchange but they added that while there has been some behind the scenes discussion the subject definite move unlikely until outstanding high court litigation actions have been resolved spot tin prices the european free market are currently around stg per tonne for high grade metal warehouse rotterdam over the past months the price moved ten year low stg march and rebounded high stg december this compares with stg last paid when lme trading ceased october and record high tin price stg traded for cash standard grade metal june that year lme warehouse stocks are now near two year low tonnes having fallen steadily from record high tonnes reached february traders said the free market turned bullish during late last year based producer forecasts supply demand deficit some tonnes analysts were predicting prices stg per tonne during however the trend was reversed following strong upswing sterling versus the dollar and values fell back briefly stg last month after approaching stg december the decline accelerated producers who had sold very little metal the higher levels became competitive sellers there was also lack significant demand from major steel mills who made large purchases prior the new year traders say the itc creditor banks original tin holdings nearly tonnes have now been almost halved and the bulk material still available being held malaysian and japanese firms which are reluctant depress the market with unwanted metal some tonnes were held banks and brokers after the international tin council itc buffer stock manager halted support operations the lme behalf the members nations the international tin agreement the overhang metal was reduced further broker shearson lehman brothers which earlier this year reported having sold its itc related holdings and halved its overall tin position analysts see immediate sign rally european tin prices and movements are still expected largely related currency fluctuations unless significant consumer demand emerges for the third quarter the association tin producing countries atpc has made efforts since the collapse the ita achieve higher world prices attempting bring all major producers under export control umbrella but date brazil and china two major producers remain unaffected the atpc argument and apparently are continuing offer material discounts consumers main european trading centres dealers said reuter 
cocoa	icco buffer stock manager buy tonnes cocoa tuesday june official 
acq	operative cobk completes acquisition operative bancorp said completed the acquisition all the issued and outstanding stock the quincy operative bank qbck under the agreement quincy stockholders will receive dlrs cash for each share owned the quincy operative bank for total transaction approximately mln dlrs operative said reuter 
money-fx	reagan says allies must honor accords exchange rate stability 
acq	info data acquire usa outdoor advertising info data inc said will acquire usa outdoor advertising inc jacksonville fla exchange for stock usa outdoor advertising was acquired for pct the outstanding shares info data inc the company said info data said plans change its name usa outdoor advertising inc reflect the change the company operations reuter 
money-fx	reagan urges fulfillment exchange accords president reagan preparing depart for the venice economic summit wednesday said the united states and its allies must fulfill agreements exchange rate stability economic policy decisions made last year tokyo and this year meetings group finance ministers paris and washington cannot ignored forgotten said the commitments made these meetings need translated into action reagan said pre summit speech celebrating the anniversary the marshall plan reuter 
acq	uni marts imma acquires gas all stores uni marts inc said acquired seven gas all inc convenience stores for undisclosed amount cash the acquisition bring the number convenience stores owned uni marts the company said reuter 
earn	merrill corp mrll qtr april net shr cts cts net revs mln mln avg shrs reuter 
acq	advanced telecommunications atel buy advanced telecommunications corp said reached agreement principle purchase teltec savings communications long distance telephone service florida the proposed acquisition price approximately mln dlrs cash the company said reuter 
earn	odetics inc qtr march net shr seven cts eight cts net revs mln year shr three cts one net revs mln mln reuter 
crude	basin pipeline texas okla border washed out floods some bpd crude affected 
interest	ccc interest higher june usda says interest rates commodity loans disbursed the commodity credit corporation ccc this month will carry pct interest rate the agriculture department said that from the may rate pct and reflects the interest rate charged the ccc the treasury june usda noted reuter 
veg-oil	andriessen hints fats oil tax could summit european community agriculture commissioner frans andriessen said his proposal for tax european currency units per tonne oils and fats was likely for discussion next week summit meeting leaders farm ministers have been unable agree the tax one the main items proposed andriessen for the farm price package the tax which would apply both domestically produced and imported oils and fats has been fiercely opposed the united states and developing countries vegetable and marine oil producers reuter 
acq	bilzerian prepared tender for pay pak pnp investor paul bilzerian said pay pak stores inc enters into merger accord with him will immediately begin tender offer for mln shares for dlrs per share cash bilzerian told reuters believes his offer superior leveraged buyout proposal disclosed announcement the company this morning the company said evaluating both proposals bilizerian said was optimistic his offer will accepted meeting the board directors wednesday officials pay pak did were not immediately available for comment bilzerian said has pool mln dlrs raised shearson lehman brothers inc available for the tender and may add bank that submitted agreement prepared sign said shares not accepted bilzerian tender would exchangeable for dlrs convertible preferred stock asked what would happen the leveraged buyout group which the company did not identify topped his offer between now and the board meeting bilzerian said expected opportunity respond pay pak gave details about the buyout group but did say the offer was contingent financing and agrreement regarding management equity participation bilzerian said was his understanding that the management particpation was nominal pay pak fell arbitrageurs said there was disappointment that neither the offers topped dlrs were expecting offer north above dlrs said one arbitrageur the leveraged buyout plan was for dlrs per share cash and dlrs pct cumulative preferred stock robert cheadle analyst montgomery securities said you have ask yourself why one the industry made bid scott drysdale analyst birr wilson securities said the company has not made the best strategic moves over the years they have not done the right things the right time said and result earnings per share have steadily declined since the cts per share earnings reported for the fiscal year ended february was lower than earnings said earnings totaled mln dlrs revenue mln dlrs drysdale said pay pak has better trained sales people than many competitors but competes price even though competitors have lower costs the result squeezed margins noted that there have been other publicly identified bidders stepping forward since the company rejected earlier bilzerian proposal mid april another arbitrageur said might not too late for another bidder get the game speculated that someone the same home improvement business might able offer deal for stock that would top both the buyout proposal and bilzerian plan reuter 
acq	forstmann little and said plans sell sybron corp unit 
acq	pharmacontrol phar acquires revco unit pharmacontrol corp said acquired private formulations inc from revco inc for six mln dlrs cash dlr promissory note and warrants buy pharmacontrol common shares pharmacontrol said the purchase price was financed along with one mln dlrs working capital through secured institutional financing the company said betweenm dlrs and dlrs the principal amount the revco note plus accrued interest payable june the balance payable over three years pharmacontrol said expects make the payment due revco from proceeds proposed offering units consisting convertible subordinated debenturers and common stock currently file with the securities and exchange commission upon closing the public offering the company said expects the secured institutional financing increase total mln dlrs private formulations primarily engaged the manufacture and distribution vitamins and private label over the counter pharmaceutical products reuter 
acq	fisher shareholder indecisive over stock buy fisher foods inc fhr said richmond road corp its largest shareholder has not yet reached definitive decision about whether will buy more fisher stock through possible merger tender offer another acquisition proposal delaware corporation formed american seaways foods inc rini holding and rego companies which owns mln shares fisher about pct its outstanding common stock fisher said had announced april that they would make decision june about the move fisher said also told they will continue explore possible advantages and disadvantages various acquisition proposals also said continuing discuss with various financial groups about possible financing for such move but gave indication when any financing proposal would finalized fisher said reuter 
acq	bancorp usbc has acquisition approval bancorp oregon said has been advised orally that its application for the acquisition old national bancorp has been approved the board governors the federal reserve the company said has also been advised that has received fed approvals for its acquisition heritage bank camas wash and for its conversion its subsidiary thrift and loan salt lake city utah into commercial bank january bancorp and old national reached definitive agreement covering the acquisition all the stock old national which does not already own for mln dlrs bancorp currently owns pct old national stock reuter 
crude	major oil pipeline shut down floods flooding the red river the texas oklahoma border has shut down the basin pipeline inch pipeline that transports much barrels per day sweet and sour crudes from texas cushing okla texaco pipeline spokesman confirmed the water rushing fast that can get any divers down assess the damage but there some possibility that the pipeline could the end the week company source said the pipeline transmits roughly two thirds sour crude and one third sweet crude oil from the midland texas region texaco sources said that the pipeline service restored friday there would little problem restoring oil which has been lost the flood but the pipeline down more than days will difficult make without prorationing and would not like proration this pipeline don have the basin pipeline jointly owned atlantic richfield corp arc shell oil subsidiary the royal dutch shell group and texaco inc which the pipeline operator peter beutel analyst elders futures inc said crude oil futures contracts new york mercantile exchange rose new highs this afternoon following news the pipeline break july crude futures west texas intermediate traded dlrs barrel rise more than cts cash market prices also firmed the news with sellers wti raising offers dlrs barrel sour crudes which would most affected the pipeline shutdown however were slow react the news with west texas sour and alaska north slope holding cts one dlr barrel below wti respectively dan stevens manager public and government affairs texaco said the company hopes fix the pipeline five days but that will depend when the water level the red river recedes there already evidence that the water level dropping and appears the rain has stopped the area affecting the pipeline stevens said said the segment the pipeline that was damaged was underground and distance from the red river that flooded the pipeline runs over the red river and under the subsoil nearby according stevens said some this subsoil was apparently washed away the potential for environmental damage being downplayed this time despite the volume oil that runs through this line texaco stevens said that aerial surveillance has not found any crude the water the river lake texoma which nearby reuter 
earn	british land america inc bla year march shr loss cts loss cts net loss loss revs mln mln avg shrs mln mln note company subsidiary british land plc reuter 
acq	forstmann little and sell unit forstman little and said plans sell its sybron corp unit leading maker and marketer dental and laboratory products for undisclosed sum forstmann little said acquired sybron february and since that time sybron has been substantially restructured with new management lower corporate overhead and new location saddle brook fortsmann little said goldman sachs and will act its financial advisor for the move added that sybron expects revenues for the current fiscal year mln dlrs with operating income about mln dlrs reuter 
acq	takeover speculation lifts hutton efh shares hutton group inc shares rose speculation the company would receive takeover offer traders said hutton stock also was affected newspaper report that first boston corp fbc accumulated almost five pct hutton stock behalf outside client traders said traders said the story which appeared usa today added speculation which began the street last week they said there were rumors the stock was under accumulation and speculation abounded the company would soon receive offer hutton official declined comment hutton stock rose hutton several months ago rejected buyout offer from shearson lehman brothers inc she the newspaper story mentioned speculation american express axp the parent shearson was possible buyer but traders said the rumors today did not name buyers first boston officials were not immediatley available for comment prudential bache analyst larry eckenfelder said doubted the speculation about american express said believed hutton which occassionally surrounded rumors moved today result the newspaper article hutton still takeover candidate said eckenfelder reuter 
acq	hong kong firm ups wrather wco stake pct industrial equity pacific ltd hong kong investment firm said raised its stake wrather corp shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission industrial equity which principally owned brierley investments ltd publicly held new zealand firm said bought wrather common shares may and dlrs share mln dlrs total reuter 
crude	congressman says unprepared for oil cutoff rep mike synar said today that while president reagan ready use military force protect kuwait tankers the gulf the united states ill prepared home deal with new energy crisis synar democrat oklahoma made his remarks comments study the general accounting office gao the participation the test the emergency oil sharing program the international energy agency the iea alliance oil consuming countries was formed after the arab oil embargo find ways deal with any future oil cutoff synar said the president prepared take military action protect kuwaiti oil tankers but has been unwilling take less dangerous equally important action prepare our nation for the next energy crisis reagan said the military would protect kuwaiti oilers assure the west continuing supply middle east oil increasingly being threatened the iranian iraqi war synar who asked for the gao report after criticism action previous iea test said the united states successfully advocated test limited training participants oil sharing procedures and the system mechanical aspects reuter 
acq	allied signal ald completes sale mpb corp allied signal inc said completed the sale its mpb corp unit bearing acquisition corp for mln dlrs plus assumption certain mpb liabilities headquartered keene mpb designs and makes precision ball and roller bearings used aerospace ordnance and computer applications allied signal said the unit had sales over mln dlrs noted the sale newly formed bearing acquisition was announced may allied signal said bearing acquisition newly formed corporation owned investors group organized harold geneen and donaldson lufkin and jenrette securities corp wells fargo bank provided senior debt financing bearing acquisition and donaldson lufkin and jenrette provided bridge financing the form subordinated notes preferred stock and common stock amount sufficient fund the purchase price allied signal added reuter 
acq	bass group cuts national distillers stake investor group led members the bass family fort worth texas said lowered its stake national distillers and chemical corp shares pct the total common from pct filing with the securities and exchange commission the bass group said sold national distillers common shares between may and prices ranging from dlrs share long the group stake below five pct not required disclose its further dealings national distillers common stock reuter 
acq	republic american rawc ups buckeye bpl stake republic american corp told the securities and exchange commission raised its stake buckeye partners limited partnership units pct the total from units pct republic which controlled cincinnati ohio financier carl lindner and his american financial corp said bought buckeye units between may and prices ranging from dlrs each about mln dlrs total reuter 
acq	kingsbridge masco set merger kingsbridge holdings ltd said signed letter intent for merger with masco sports inc the transaction calls for mln sahres kingsbridge common stock issued shareholders masco reuter 
earn	international corona icr qtr net period ended march oper shr profit four cts loss cts oper net profit loss revs not given six mths oper shr profit eight cts loss cts oper net profit loss revs mln not given reuter 
earn	royex gold mining rgm qtr march net oper shr loss three cts loss one oper net loss loss revs six mths oper shr loss eight cts loss four cts oper net loss loss revs note net excludes qtr extraordinary gain mln dlrs dlrs shr from sale pct stake mascot gold mines ltd msg full name royex gold mining corp reuter 
acq	dresser industries inc sell reliance standard life insurance rosenkranz unit 
earn	diana corp dna year march oper net oper shr cts cts oper net note operating net excludes credits dlrs cts share operating net excludes discontinued operations dlrs two cts and extraordinary charges dlrs loss cts reuter 
acq	wyse wyse get link technologies wyse technology said agreed principle acquire privately held link technologies inc exchange for undisclosed amount wyse technology shares link technologies develops and markets computer terminals wyse also said reuter 
earn	mclain industries inc mccl qtr march shr cts cts net revs mln mln six months shr cts cts net revs mln mln reuter 
earn	phillips van heusen corp pvh qtr shr cts cts net mln mln revs mln mln note includes lifo charge mln dlrs pension expenses declined dlrs due change accounting interest decreased dlrs reuter 
acq	dresser sell unit rosenkranz and dresser industries inc said signed definitive agreement sell its reliance standard life insurance rsl holding inc subsidiary the privately held new york based investment firm rosenkranz and terms were not undisclosed philadelphia based reliance earned mln dlrs sales mln dlrs dresser said will use the proceeds from the sale for stock repurchases debt reduction and possibly complementary acquisitions the field engineered products and services for energy producers reuter 
acq	atcor atco seeks buyers for consumer business atcor inc said that roth american inc which had signed letter intent may acquire its turco and charmglow operations its consumer products segment has decided against buying charmglow while roth american said still interested acquiring turco atcor said now reviewing its options with other potential buyers who have expressed interest its consumer products businesses reuter 
earn	international consumer brands icbi qtr shr profit one cts loss three cts net profit loss revs mln reuter 
acq	uspci upc seen rejecting union pacific bid share bid made last wednesday union pacific corp unp analysts said the offer inadequate said douglas augenthaler analyst with hutton noting that does not represent the needed premium over the company fundamental value based earnings estimates uspci which has mln shares outstanding was trading down uspci vice president finance larry shelton said could not comment the adequacy the offer when the board would meet consider augenthaler said that while uspci was trading only dlrs share the time the takeover bid its announcement that same day higher earnings expectations changed its value uspci said its second quarter earnings would exceed analysts expectations cts share that price uspci could maintain stock price the low augenthaler said hutton revised its earnings estimate for the waste management concern dlrs share from dlrs the announcment said lifted its projection dlrs share from dlrs addition analysts said the hazardous waste management business holds significant growth potential the industry has grown from pct over the last five years based earnings per share said jeffrey klein analyst with kidder peabody and the industry expected continue growing pct over the next five years said augenthaler said the dlr share offer mln dlrs total would bargain for union pacific the transportation and energy company would both gain entry into profitable business and win cost control benefits said union pacific has what are rumored some fairly signficant environmmental problems its own said herb mee president beard oil bec which holds pct stake uspci said last week union pacific offer was grossly inadequate reuter 
crude	total petroleum tpn shuts texas pipelines total petroleum tpn shut down several small crude oil pipelines operating near the texas oklahoma border last friday precaution against damage from local flooding according gary zollinger manager operations total shut inch line that runs across the ouachita river from wynnewood ardmore with capacity bpd well several smaller pipelines few inches wide with capacities several thousand bpd less zollinger said the basin pipeline major pipeline running bpd run consortium other oil companies was closed today one other small pipeline that total also closed has capacity bpd and crosses the red river fargo texas zollinger said said the closed pipelines run under river water and could damaged the flooded rivers erode the river banks and expose the piping zollinger said total waiting for the river waters recede before they reactivate the pipelines reuter 
crude	doe reaches proposed oil settlements the energy department said reached proposed oil pricing settlements totaling dlrs with the operator and four working interest owners leblanc well vermillion parish trigon exploration inc operated the well from june january for bryan ferguson william rogers omni drilling partnership and entex inc doe alleged trigon caused overcharges dlrs improperly classifying its oil newly discovered crude classification that allowed charging higher prices during period price controls said the proposed settlements would resolve disputes over possible violations the five parties doe added that agreeing the settlements the five did not admit any violations non compliance with its regulations said would receive written comments the settlements before making final reuter 
acq	first america fabk acquires keystone first america bank corp said acquired keystone bancshares inc for mln dlrs keystone shareholders will receive dlrs per keystone share payable first america convertible preferred stock having dividend rate nine pct keystone has two affiliates with combined assets mln dlrs first america has billion dlrs assets reuter 
acq	fluorocarbon fcbn completes acquisition fluorocarbon said completed the acquisition eaton corp etn industrial polymer division the company said paid about mln dlrs cash for the division which will renamed samuel moore group fluorocarbon also said the division should boost annual sales mln dlrs from last year mln dlrs reuter 
iron-steel	ltv qltv negotiate with steelworkers ltv corp ltv steel corp said agreed resume negotiations with the united steelworkers america the local plant levels discuss those provisions its proposal that require local implementation the local steelworker union narrowly rejected tentative agreement with the company may said ltv also said agreed reopen its offer contained the tentative agreement reached with the union negotiating committee part plan resolve problems through local discussions reuter 
earn	charter power systems inc chp qtr shr cts cts net revs mln mln avg shrs mln mln reuter 
acq	financial security fssla acquired financial security savings and loan association said signed letter intent for controlling interest acquired investor group led south florida developer william landa terms were not disclosed reuter 
acq	edelman group cuts burlington bur stake new york investor asher edelman and dominion textile inc dtx who are currently seeking acquire burlington industries inc hostile tender offer said they lowered their stake the company filing with the secruties and exchange commission the edelman dominion group known samjens acqusition corp said sold options buy burlington common shares reducing its stake the company shares pct from shares pct the group said the sale which represented all the burlington options owned was made may for mln dlrs the edelman dominion group last week sweetened its hostile tender offer dlrs share after burlington agreed leveraged buyout morgan stanley and backed group for dlrs share but the edelman dominion group which has litigation pending against burlington also said has held talks with morgan stanley about the possibility settlement outstanding matters among morgan stanley and burlington reuter 
acq	entertainment marketing tops crazy eddie offer quickly growing texas based distributor electronics products offered mln dlrs for crazy eddie inc crzy the leading new york city electronics retailer one dlr per share more than its founder has bid the dlr share offer entertainment marketing inc for crazy eddie comes less than two weeks after founder eddie antar and firm controlled the belzbergs canada announced bid take the store crazy eddie chain private analysts said entertainment marketing whose revenues and profits quadrupled may looking break into the highly competitive new york city retail market for consumer electronics the nation biggest time the fortunes electronics retailers have sagged the analysts questioned whether houston based entertainment marketing founded former electronics retailer but whose present buinesses are primarily wholesale distributors had the management expertise for retailing was merely trying drive the price the crazy eddie shares already owns have mixed feelings said analyst dennis telzrow eppler geurin and turner dallas brokerage the one hand probably cheap price the other hand does entertainment marketing have the management talent run and will the crazy eddie people leave risky strategy for entertainment marketing said analyst eliot laurence wessels arnold and henderson minneapolis brokerage electronics retailing very management concentrated they want keep crazy eddie management place laurence said that since entertainment marketing already owns percent crazy eddie million shares may trying get the antar belzberg group increase its dlr share offer shares crazy eddie which have jumped from the high dlr range above dlrs since the antar belzberg bid was announced may rose another cents monday share over the counter trading antar the reclusive founder the chain the new york city philadelphia and connecticut areas said last month that his group controlled percent crazy eddie shares crazy eddie spokesman said the company board has taken decision the antar belzberg offer worth some mln dlrs since they own more shares than entertainment marketing would not comment the new offer entertainment marketing sells computer products such disk drives and other often discounted electronics goods retailers primarily the southwest and directly consumers cable television fiscal ending last january its revenues rose mln dlrs from mln dlrs the previous year net profit went mln dlrs from dlrs entertainment marketing whose chief executive officer elias zinn once ran electronics retailing business said statement had committed mln dlrs toward the purchase crazy eddie and had retained dean witter reynolds inc assist financing the balance analyst telzerow estimated that the company would have borrow about mln dlrs complete the proposed buyout since crazy eddie has cash and other assets worth about the same amount shares entertainment marketing were cents monday reuter 
acq	first union func completes acquisitions first union corp said completed the acquisition two florida based banks north port bank based north port and city commerical bank based sarasota reuter 
earn	crop genetics international crop qtr qtr ended march shr loss cts loss cts net loss loss revs year shr loss dlrs loss cts net loss revs reuter 
acq	investors may take computerland public the investor group that has agreed buy computerland corp will likely take the leading personal computer retailer public sell other investors industry analysts said now good time said joe levy international data corp the personal computer industry has bottomed out and the way again said earlier today closely held computerland the largest retailing chain the country said agreed bought investor group led warburg pincus and new york neither computerland which pct owned its founder william millard nor warburg money management and venture capital firm would disclose the value the transaction analysts estimated that computerland whose stores generated billion dlrs sales last year would fetch mln dlrs mln dlrs computerland franchise owners pay royalties averaging pct the parent company officials for warburg referred all questions computerland computerland officials could not immediately reached for comment warburg currently manages billion dlrs venture capital funds and its past investments have included mattel inc mat and the ingersoll newspaper chain also money manager with billion dlrs under management although the retailers are benefitting from the strong upturn sales analysts said computerland must make key changes fend off advances from rivals like businessland inc busl and tandy corp tan radio shack stores the name the game now outbound sales forces customer service and customer support said levy international data relations between computerland and its franchise owners have mellowed recently after millard was forced give managment control the company faber who took over chairman and chief executive officer revamped the company royalty plan which help quell much the franchisee dissent reuter 
acq	ladd ladd unit completes acquisition ladd furniture inc clayton marcus furniture subsidiary said completed the previously announced purchase privately held colony house furniture inc for undisclosed amount cash and notes reuter 
acq	cis cisif agrees second extension cis technologies inc said that and the swiss reinsurance zurich switzerland agreed second extension two dates for the final part their share purchase agreement said the june one election date has been extended june and the june closing date has been changed july reuter 
acq	waste management wmx board okays modulaire buy waste management inc said its directors approved may accord with modulaire industries modx under which waste management would acquire modulaire under the agreement modulaire stockholders would receive dlrs waste management stock for each modulaire share modulaire has scheduled special shareholders meeting for july vote the merger waste management said has received proxies from holders pct modulaire common stock that could voted favor the merger the hart scott roding waiting period the takeover will expire june reuter 
acq	burlington bur hearing continue tomorrow district court judge eugene gordon said plans issue decision tomorrow burlington industries inc request for injunction stop samjens acquisition corp takeover bid for the company wall street sources have said the outcome the case could pivotal determining the winner the fierce takeover battle for burlington the largest textile maker gordon presided over six hours argument today lawyers for burlington and samjens partnership formed dominion textile inc and new york investor asher edelman hearings are scheduled continue tomorrow preliminary injunction would hold samjens billion dlr offer until the case decided burlington had previously agreed billion dlr buyout from morgan stanley group inc one dlr per share lower than sweetened dlr per share bid made samjens last week burlington has not responded the new samjens offer burlington has alleged its lawsuit that edelman and dominion used illegally obtained confidential information about the company making their takeover attempt that information burlington said was provided james ammeen former burlington executive through painewebber group inc pwj ammeen who had worked for burlington for years had many divisions with pct burlington sales reporting him when left burlington november burlington said signed contract promising never divulge inside information about the company burlington lawyers said shortly after left began working with painewebber employee hostile plan takeover the company dismember the company and displace its management burlington lawyer hubert humphrey said samjens lawyers acknowledged received information from painewebber but argued the information was public information and could obtained either from texitle industry analysts burlington public financial statements burlington lawyers said painewebber and ammeen met with edelman and dominion november and continued meet with them until couple days before edelman and dominion went public april with their intention take over the company burlington lawyers claim dominion board decided attempt takeover burlington after ammeen met with the board february burlington lawyers said edelman and dominion held discussions with painewebber and ammeen about acting financial advisers samjens but they allege talks broke off because painewebber and ammeen could not satisfy edelman and dominion with written statement that they did not provide inside information lawyers for samjens contended that painewebber and ammeen withdrew potential advisers because burlington chairman frank greenberg had called painewebber executive and threatened legal action painewebber got involved effort takeover burlilgnton the ultimate question not the price per share the profit but rather the permissable standards conduct for those who would takeover american company said burlington lawyer humphrey burlington lawyers also contended that burlington the largest manufacturer denim the united states would violation anti trust laws acquired dominion canada largest textile maker dominion has denim manufacturing plants georgia which would reduce competition the denim market the lawyers said samjens lawyers discounted the concern they said the market for denim more fragmented than burlington contends and that burlington has the ability switch between light weight and heavy weight denim production demand and price dictate samjens lawyers also pointed lawsuit filed burlington canada which said was considering bid for dominion surely what would have been sauce for the goose would have been sauce for the gander said sidney rosdeitcher samjens lawyer reuter 
acq	edelman details burlington bur options sale tender offer asher edelman and dominion textile ltd dtx for burlington idustries inc not affected the investors sale options buy burlington stock according associate edelman noting that our tender offer definitely place the aide said the investors are prohibited securities and exchange commission regulations from exercising options long tender offer open the options are due expire the end june said the may sale options buy burlington shares was thus non event reuter 
acq	cont materials cuo ends consideration bid continental materials corp said its directors decided not give further consideration business combination proposed stockholder group that holds pct continental materials stock continental materials said the offer had been received from continental associates group louis businessmen according continental materials the group said may might boost its stake continental materials but the group also said letter last week the company that the group had financing the board did not consider official offer continental materials spokeswoman said reuter 
acq	ameribanc ainv cardinal end acquisition ameribanc investors group and cardinal savings and loan association jointly announced that the proposed acquisition cardinal ameribanc has been terminated mutual agreement reuter 
alum	venezuela gets mln dlrs credit for aluminum venezuela has obtained more than mln dlrs financing for industrial projects and increased its lines credit for import financing finance minister manuel azpurua said can say that are achieving the recuperation credit but that cannot done overnight azpurua said television interview said credit agreement for mln marks will signed this week with the german state bank kreditanstalt fur wiederaufbau kfw finance expansion the state aluminum company venalum the credit will divided into two separate agreements one for mln marks with interest rate pct and another for mln marks pct azpurua said financing has also been obtained for expansion alcasa another state aluminum company and for projects the state steel and petrochemical industries yesterday said venezuela obtained two new credits mln dlrs each for export financing one from credit nord france and the other from britain midland bank the venezuelan government has been criticised home for failing obtain new credits despite its insistence repaying foreign debt according the terms rescheduling accord reached last february azpurua recently visited tokyo hoping acquire new credits for industrial expansions but clinched agreements japanese officials refused allow new issue venezuelan bonds until the country regains its triple credit rating reuter 
acq	court upholds bank building self tender bank building and equipment corp america said the delaware chancery court denied stockholder request for preliminary injunction against offer for bank building stock made the company and its employee stock ownership plan and trust bank building said the joint offer for shares bank building stock dlrs share the offer scheduled expire midnight edt june bank building also said its board set july the date the company annual meeting with record date july six reuter 
acq	harcourt hbj debentures may trigger suit holders convertible subordinated debentures harcourt brace jovanovich inc threatened sue the company they not get more information about how their investment will affected the company proposed recapitalization plan the holders none whom was willing identified said although harcourt has urged that they convert their shares common stock the june eight record date for special dividend they were unable determine might better for them continue holding the debentures there are rumors that various houses will bring litigation don get answers said wall street source officials harcourt declined comment citing suit brought british publisher robert maxwell whose has been trying acquire harcourt executives first boston inc harcourt financial adviser did not return telephone call seeking comment when announced its recapitalization may harcourt advised holders the pct convertible subordinated debentures due convert into common the june eight record date for the company special dividend harcourt special dividend pays dlrs per share cash plus security worth dlrs holders would also retain stock the recapitalized firm the debentures had been convertible dlrs per share harcourt may announcement said the conversion price would adjusted according the indenture covering the securities arbitrageurs said the conversion formula yielded negative number and thus they needed further information from the company reuter 
alum	venezuela obtained million dlrs credits venezuela has obtained more than mln dlrs financing for industrial projects and has also increased its lines credit for import financing finance minister manuel azpurua said can say that are achieving the recuperation credit but that cannot done overnight azpurua said television interview azpurua said credit agreement for mln marks will signed this week with the german state bank kreditanstalt fur wiederaufbau kfw finance expansion the state aluminum company venalum the credit will divided into two separate agreements one for mln marks with interest rate pct and another for mln marks pct azpurua said financing had also been obtained for the expansion alcasa another state aluminum company well for projects the state steel and petrochemical industries did not provide details yesterday after meeting leaders the ruling accion democratica party azpurua said venezuela had obtained two new credits five mln dlrs each for export financing one from credit nord france and the other from the midland bank great britain the finance minister statements came the government under sharp criticism for failing obtain new credits despite its insistence repaying the foreign debt according the terms rescheduling accord reached last february azpurua and other senior economic officals returned from trip tokyo last week which they hoped acquire new credits for industrial expansions but agreements were reached japanese officials also refused allow new issue venezuelan debt bonds because until the country regains its triple credit classification reuter 
crude	south korea increases duty crude imports south korea has increased its duty crude oil imports dlrs barrel from dlrs effective today the energy ministry said the duty raise funds for special energy projects was adjusted after average crude import prices rose dlrs barrel april from dlrs march and dlrs april ministry officials said separate pct import tax crude oil unchanged reuter 
acq	equiticorp tasman bid for monier ltd equiticorp tasman ltd etl said will offer dlrs share cash for all the issued capital monier ltd mnra currently the subject dlrs share bid csr ltd csra alternatively etl will offer three shares plus cents cash for each monier share said statement previously reported etl moved into the market for monier shares last week taking its stake pct friday now holds pct the maximum allowed without foreign investment review board firb approval etl classified foreign because its new zealand base the etl cash offer values monier issued capital mln shares mln dlrs against mln for the csr bid based the current price etl shares dlrs the alternative worth dlrs per share but etl said the value placed its shares for the offer aproximates the diluted asset backing etl march etl said the offer will have minimum acceptance conditions and will subject australian foreign investment and hart scott rodino anti trust clearances etl chairman allan hawkins said the statement that the shareholding monier was long term investment etl and its feltex international ltd associate have targetted the building products sector area expansion and monier fits well with this aim added monier chairman bill locke said separate statement that the independent directors monier intend recommend acceptance the etl bid the absence higher bid also said monier will not now proceed with the one for two bonus issue announced with its interim results march view the proposed takeover bids previously reported the csr offer involves complex put and call option deal with monier major shareholder redland plc rdld which gives redland the choice accepting the csr offer for its pct stake moving pct within six months the bid closing csr officials have made clear that they see redland taking the second option resulting the two companies running monier joint venture csr officials have also said they had intention raising the company bid for monier after etl intervention became public last week reuter 
money-fx	venezuela tightens foreign exchange restrictions venezuela central bank has ordered venezuelan banks and exchange houses cease foreign exchange operations with brokers based outside the country according copy central bank telex made available reuters the measure confirmed brokerage firm here has effectively cut off all foreign participation venezuela volatile currency market the telex issued may was signed carlos hernandez delfino manager the bank department international operations the telex said the restriction business with foreign brokers line with earlier measure prohibiting foreign exchange houses from selling dollars other foreign currencies anyone living outside venezuela recent weeks the venezuelan government has denied rumours that intends impose foreign exchange controls prop the weakening bolivar but brokers said the central bank move seen facto currency control definitely control the sense that there longer complete freedom operate one broker here said gradually they imposing restrictions and the direction towards complete control the broker said the broker who requested anonymity said virtually all his venezuelan customers had stopped doing business with him since the central bank issued the telex and followed with telephone calls said that before the restriction was imposed the volume his firm transactions with venezuela was about mln dlrs day was frenetic market was really quite active said the broker said saw logical explanation for the prohibition because his firm only acted act intermediary between venezuelan brokers exchange houses and banks weren buying dollars from venezuelans that ridiculous said they been rampage against foreigners the broker noted that two months ago venezuela central bank quietly announced that banks doing foreign exchange business outside venezuela would have respect new pct reserve requirement february the central bank also prohibited trading bolivar futures the broker said used have forward market said for small currency was miraculous said the bolivar which averaged the dollar would continue slip from its current range because the central bank was rapidly running out foreign reserves support the currency the free market reuter 
gas	esso raises singapore petrol pump prices esso singapore pte ltd said raised pump prices petrol from today new prices for lead grades are cents litre for octane and cents for octane other singapore oil companies announced yesterday that they would revise their pump prices effective today shell eastern petroleum pte ltd mobil oil singapore pte ltd caltex asia ltd singapore petroleum pte ltd and singapore pte ltd are pricing octane cents shell mobil and caltex are pricing octane cents and spc and cents reuter 
interest	tokyo bundesbank schlesinger sees reason lower interest rates 
earn	fujitsu ltd itsu group year ended march group shr yen net billion billion current billion billion operating billion billion sales billion billion reuter 
crude	mees newsletter says oman offers oil discounts oman has granted term crude oil customers retroactive discounts from official prices cents per barrel liftings made during february march and april the weekly newsletter middle east economic survey mees said mees said the price adjustments arrived through negotiations between the omani oil ministry and companies concerned are designed compensate for the difference between market related prices and the official price dlrs per barrel adopted non opec oman since february reuter 
rubber	malaysian rubber output recovers from wintering malaysian rubber production should return normal levels this month after hard wintering season the malaysian rubber exchange and licensing board said its latest review packers and remillers expect production recover normal levels june sellers will remain reserved the near future the review dated may said many consumers are holding off waiting for the best time buy the market mindful approaching summer holidays industrial countries and there air uncertainty beyond july said gave figures for the output drop reuter 
gnp	central bank head says philippine growth target the philippines first quarter growth figures released yesterday indicated the government was likely achieve its targets central bank governor jose fernandez said interview the national economic development authority neda announced yesterday gross domestic product gdp grew pct and gross national product gnp pct the first quarter from year earlier don see anything the horizon that should cut growth short fernandez said neda said gnp had grown pct and gdp pct the fourth quarter from year earlier last year gnp growth put earlier pct was revised pct certainly not see any shortage external resources and gnp growth continues this level would assume that domestic resources the fiscal side would generated and would not stumbling block fernandez said think even before the figures came out simply looking key indicators such consumption fuel oil and power showed that the economy was different track from last year said fernandez said consumption tended heavier the first and second quarters because the dry weather and could drop off the third quarter said the most significant sign recovery lay the manufacturing sector which grew pct after declines and slow turnaround the second half that not seasonal thing secular said said the government had met all monetary targets set for the first quarter consultation with the international monetary fund imf expected draw down the fourth tranche from its mln sdr stand arrangement soon the philippines has far drawn three tranches totalling mln sdrs from the arrangement expiring april fernandez said imf mission would visit here july august review performance the january june period said imf repayments were projected total billion dlrs over the period and drawings only mln dlrs repayments were inevitable and many countries would find their net repayments the imf rising the next few years means that since there will net drain oda official development assistance accounts the commercial banking system will requested hold the line said internal constraint that exists because the imf debt cannot rescheduled fernandez said the philippines rescheduled billion dlrs its billion dlr foreign commercial debt march fernandez said central bank bills introduced march mop excess liquidity had peaked billion pesos april but their unwinding maturity dates started october last year had almost been completed said auctions treasury bills whose outstanding level touched billion pesos may were going well treasury bills will remain basic monetary tool said commenting the country foreign debt fernandez said think the philippine debt stock looms large because our own receipts from exports have not taken the same kind leap forward might have been suitable the foreign debt projected the central bank reach billion dlrs the end neda said exports totalled billion dlrs the first quarter while imports were billion dlrs fernandez said the government had targeted gnp growth between six and pct this year cautioned that while growth far was high the targets had not yet been achieved fernandez said saw merit arguments some economists that the peso currently pegged the dollar ought devalued make the country exports more competitive being pegged the dollar basket basis the peso has already substantially devalued against all the country trading partners said the proposed omnibus investment code said was opposed clause which would allow the unrestricted repatriation abroad investments made during the first two years after the imposition the code the imposition the code scheduled for last january has been delayed objections from some business groups think any central bank certainly this one after the events the past two two and half years has prudent this not the time throw all caution the winds and not about that fernandez said would ideal reach point where movement capital and earnings can free said have had one year reasonably good results certainly continue have fairly heavy drain our external availabilities simply servicing our debts reuter 
ipi	belgian february industry output down year ago belgian industrial production excluding construction and adjusted for seasonal and calendar influences was provisionally pct lower february than year earlier the national statistics office said output february was however pct higher than january spokeswoman for the office said the production index base rose provisional february from provisional january slightly revised from the originally estimated february last year the index stood reuter 
interest	bundesbank sets new repurchase tender the bundesbank set new tender for day securities repurchase agreement offering banks liquidity aid minimum bid rate pct central bank spokesman said banks must make their bids gmt today and funds allocated will credited accounts tomorrow banks must repurchase securities pledged july reuter 
earn	storehouse reports higher profits weeks april share basic fully diluted final dividend making pretax profits mln stg mln turnover mln stg mln profit from retail operations mln stg mln tax mln stg mln profit after tax mln stg mln extraordinary items debit mln stg debit mln note full name storehouse plc sthl reuter 
earn	norcros profits advance year march shr final dividend making pretax profit mln stg mln turnover mln stg mln group operating profit mln stg mln share associates profits mln stg mln investment income mln stg mln interest payable mln stg mln tax mln stg mln leaving mln minorities debit mln stg debit mln extraordinary items credit mln stg debit mln operating profits breakdown class business building materials manufacture mln stg mln distribution mln stg mln specialist print and pack mln stg mln international mln stg mln head office and property mln stg mln discontinued sold businesses stg mln operating profits geographic breakdown britain mln stg mln africa mln stg mln australasia mln stg stg north america mln stg mln note full name norcros plc ncro reuter 
gnp	german gnp figures publication delayed figures for first quarter west german gnp will published june after they were provisionally scheduled for june official the federal statistics office said the official said there had been delay gathering information for the data which are expected show that the west german economy contracted the period spokesman for the economics ministry bonn said there was political motivation behind publishing the figures june the day after the venice economic summit ends there political motivation purely technical matter added the west german government expected come under pressure venice from both the and its european partners stimulate domestic demand way reducing international trade imbalances and contributing world economic growth however government officials have ruled out any further tax reduction packages supplement major program stimulatory fiscal measures already underway helmut schlesinger vice president the west german central bank the bundesbank said tokyo today that gnp the widest measure country economic activity fell real terms seasonally adjusted one pct the first quarter compared with the fourth period the government has confirmed that growth was negative the first quarter but year year growth expected about two pct schlesinger today repeated the bundesbank reluctance cut its official interest rates further its key discount rate three pct just above historical lows west german officials are likely emphasise the venice summit that domestic demand which draws goods from abroad already outstripping export performance which has suffered from pct rise the mark against the dollar just over two years the government has pointed out that depressed exports are the main reason for the current weakness the economy but says that later the year stronger domestic demand will compensate for this setback expects gnp growth for the whole just under two pct after pct rise reuter 
acq	stad rotterdam takes stake swiss owned insurer dutch insurer stad rotterdam anno asrn said from july will own pct the shares europeesche verzekering maatschappij fully owned unit swiss insurer union rueckversicherungs gesellschaft stad rotterdam chairman lucas van leeuwen told reuters may raise its stake majority interest the two companies are found sufficiently compatible van leeuwen said that due partly the fact europeesche made losses and the pct stake was obtained below the shares intrinsic value gave precise sum the europeesche which specialises travel and recreation insurance had premium income mln guilders stad rotterdam premium income was billion guilders making the fifth largest dutch insurer europeesche made loss nine mln guilders which narrowed mln guilders van leeuwen said said the company was course for independent recovery and was expected reduce its losses further reuter 
acq	duffour igon gives backing aga takeover bid french industrial gas group duffour igon has decided back the takeover bid swedish industrial gases group aga aga ending lengthy battle between rival bidders from france spain and west germany duffour igon chairman jean igon said the board agreed late last night back the aga bid and advise its shareholders accept the swedish group latest offer francs per share told reuters the other main bidders were union carbide corp french subsidiary union carbide france and west germany linde ling aga topped rival bids for the gases distribution group may raising its offer francs from francs this was accepted spain carburos metalicos which sold aga six pct duffour igon stock and the right first refusal the remaining nine pct stock holds also won over the french midi pyrenees development authority which agreed sell aga its pct stake duffour igon under aga offer shareholders can either accept cash bid exchange one share duffour igon for one bond nominal value francs with pct coupon issue aga france the bond issue guaranteed the parent aga the takeover battle for the toulouse based company which controls eight pct the french industrial gas distribution market began april with offer francs per share from union carbide france aga offer which puts price mln francs the company closes june and the results will announced july duffour igon shares were quoted yesterday francs with buyers after series suspensions during the takeover tussle they traded francs january before the first suspension reuter 
money-fx	poehl looks set for eight more years bundesbank for currency dealers karl otto poehl the scourge speculators for bankers the man who has played key role shaping the world financial destiny for the last seven years and for germans the guardian the mark president the powerful and independent west german central bank the bundesbank poehl likely have his contract renewed for another eight years when expires the end this year government officials say index economic spotlights see page ecra but official announcement has yet been made raising eyebrows west germany business community the ebullient poehl spent seven years bonn top ministerial posts under the social democrats now opposition before moved the bundesbank there has been speculation that chancellor helmut kohl would try replace poehl with man closer his own christian democrats but officials noted that poehl has worked closely and successfully with finance minister gerhard stoltenberg since kohl government took office poehl the most senior central banker apart from paul volcker the united states enjoys strong international reputation which would take newcomer years build given these circumstances kohl will probably overlook poehl past adviser former social democrat chancellor willy brandt and top aide helmut schmidt when was finance minister bankers said was schmidt who chancellor appointed poehl his present job recent months with the mark strong rise against the dollar poehl has made exchange rates the central concern the bundesbank council highly conservative institution which has doggedly pursued monetary policies prevent inflation catching hold older germans can remember two bouts galloping inflation this century but with consumer prices falling for much and inflation negligible far this year poehl thinks safe relax the monetary reins little and concentrate the dangers the german economy bloated exchange rate the opinion that efforts stabilise the dollar mark rate have reached high priority also for the bundesbank because further massive revaluation the mark would endanger the economy west germany told business journalists frankfurt recently ute geipel head research citibank says that poehl reappointment would guarantee flexible monetary policy poehl policy has always been policy which does not focus rigidly domestic factors but also the external economy she said economist german bank who declined identified said poehl confirmed his post will certainly plus for the pragmatic course which not rigidly oriented towards money supply one poehl great struggles recently has been persuade the united states stop talking down the dollar for poehl the significance the february louvre accord was that the united states agreed join efforts stabilise currencies the louvre accord was greeted with scepticism currency dealers who said they would soon put the test but fact the dollar has been relatively stable since the pact this because the markets know perhaps because they don know what the central banks can poehl says intervention currency markets which can quickly turn rates round making speculator position worthless poehl was born and worked financial journalist the before starting his ministerial career relaxed sun tanned figure who enjoys cracking jokes over glass beer hardly stereotype central banker also keen sportsman who likes watch football and play golf poehl says currency market intervention cannot substitute for correct economic policies exchange rates are imbalanced but you can achieve enormous effect with small amount you strike the right moment said bundesbank dealers are very professional and skilled they burnt the fingers many people said and unlike the speculators poehl notes the bundesbank dealers usually make profit reuter 
bop	finland current account deficit qtr finland current account balance payments showed deficit billion markka first quarter against deficit billion the same period last year the bank finland said statement reuter 
earn	rue raises annual profits pct year ended march fin div making shr pretax profit mln stg mln net mln mln turnover mln mln net interest payable mln mln profit share related companies mln mln note the rue plc dlar proposes offer ordinary shareholders the opportunity receive their dividends the form new shares alternative cash reuter 
sugar	china seen unlikely raise sugar imports china will not increase sugar imports substantially this year because foreign exchange constraints and large stocks despite falling production and rising domestic demand traders and the official press said despite rapid increases domestic production over the last years imbalances between supply and demand continue extremely serious the farmers daily said said plantings fell due removal crop incentives because farmers could earn more from other crops and because technical and seed improvements had not been widely disseminated the official press had estimated the sugar crop november march mln tonnes down from mln year earlier and domestic consumption six mln tonnes year the yunnan sugar harvest was record tonnes the provincial daily said gave year earlier figure output guangxi was mln tonnes the new china news agency said without giving year earlier figure the nanfang daily said production guangdong province fell estimated mln tonnes from mln and that the area under sugar was dropping supply cane guangdong inadequate the newspaper said processing costs are rising and the economic situation nearly all the mills not good guarantee supply cane major problem western diplomat said sugar output also fell fujian south china fourth major producer where there was drop area planted said the rural sectors guangdong and fujian were wel developed enabling farmers choose crops according the maximum return meaning that many had avoided sugar the farmers daily said peasant the ortheast province heilongjiang could gross yuan from one hectares soybeans and yuan from one corn but only from one sugarbeet the paper said the profit margin mills china fell pct last year from pct mills lacked the capital modernise and they competed with each other for raw materialsx added this resulted falling utilisation rates big mode nised mills the price sugar had not changed years the official press has said customs figures showed china imported mln tonnes sugar calendar down from mln the diplomat said stocks end august were mln tonnes from year earlier foreign trader here said china accumulated large stocks when provincial authorities were allowed import sugar their own authority this practice was stopped when the central government resumed control imports china lacked storage much these imports was stored qinghai inner mongolia and other inland areas the diplomat said the trader said transporting stocks from these areas consumers east and south china was problem particularly coal had priority how quickly they can move the sugar one factor determining import levels said another factor was the quality the harvest cuba china major supplier through barter trade said china bought two distress cargoes last week for about dlrs tonne added china not desperate buyer now but the cuban harvest bad will have into the open market japanese trader said peking major concern regarding imports was price while the foreign trade situation has improved this year foreign exchange restraints persist said the diplomat said domestic demand was rising about five pct year but communist government much better position regulate demand than capitalist one the foreign exchange situation demands reuter 
ship	kuwait rejects iranian spy boat charges kuwait target iranian anger over the emirate backing for iraq the gulf war today rejected charges that fishing vessels seized recently iran were spy boats there are bases truth the contents the iranian accusation the nature the operations the vessels recently taken into custody iran these vessels were out fishing the foreign ministry said statement said iranian charge affaires mohammad baqeri was summoned the ministry yesterday confer with foreign undersecretary suleiman majed shaheen the iranian news agency irna said sunday iran had seized seven kuwaiti speed boats and detained their crew who confessed spying for iraq under the cover fishing said the boats were intercepted the khur abdullah waterway which separates kuwait and iraq faw peninsula the head the gulf captured iran last year the kuwaiti response came iranian envoys toured gulf arab states saying responsibility for security and stability the waterway was regional matter senate team was scheduled today meet kuwait crown prince and prime minister sheikh saad abdulla sabah and the defence and oil ministers today foreign ministry statement carried the kuwait news agency kuna said the recent detention kuwaiti fishing vessels iran was not the first tehran the past had held back number vessels kuwait had sought release through diplomatic contacts said however kuwait perplexed that this time the iranian charges are accompanied accusations that the vessels were undertaking espionage activities said shaheen condemned the detentions and accusations and asked tehran free all fishing boats and sailors held iran the statement said reuter 
crude	saudi arabia will not agree mad oil price rise saudi arabia oil minister hisham nazer said riyadh would not agree cut oil prices and would not accept mad increase that would drive consumers away told riyadh newspaper saudi arabia follows balanced petroleum policy does not approve decrease prices from current levels and also does not accept mad increase that would drive consumers away and make them try and find alternative sources for energy opec agreed last december cut production after world prices hit new lows they agreed pricing system aimed stabilise the market around dlrs barrel opec scheduled meet vienna june where will review its current oil price and production policy saudi arabia king fahd said last month that wanted oil prices remain stable for the next two years saudi arabia the architect the current pricing and production pact which backed kuwait and the uae the current pact set production ceiling for first half mln bpd and implemented fixed prices based dlrs barrel average reuter 
money-fx	taiwan curbs inflows foreign exchange taiwan central bank announced that from today the overseas foreign exchange borrowings local and foreign banks would frozen the level they reached the end may the central bank statement added that the measure would effective until the end july bankers said the measure designed curb the inflow foreign exchange and slow the growth money supply they added that the move which sparked record single day plunge the local stock market would limit their ability lend foreign exchange importers and exporters foreign exchange borrowings local and foreign banks reached almost billion dlrs the end april according official statistics last week the central bank said that from today would reduce its purchase forward dollars from banks pct from pct the value the contract said the move was needed because distortions the foreign exchange market exporters nervous about the appreciating taiwan dollar have been heavily selling forward dollars the interbank market avoid exchange rate losses official figures show that forward dollar sales may reached record almost six billion dlrs against billion april all taiwan foreign exchange earnings must converted into local dollars boosting money supply time booming exports money supply rose seasonally adjusted pct the year end april raising fears higher inflation march the central bank clamped tight restrictions remittances foreign exchange companies and individuals taiwan move curb inflows speculative money economists and bankers estimate that the rising value the local dollar has attracted about ten billion dlrs speculative money into taiwan since early last year has flowed mainly from hong kong japan and the since september the taiwan dollar has risen about pct against the dollar bankers said the government efforts stabilise the foreign exchange market were prelude lifting all curbs capital outflows the central bank has said the controls will dropped the end july early august foreign exchange dealers said today announcement caused jitters the market with foreign and local banks making heavy purchases dollars they said the central bank sold about mln dlrs taiwan stock market plunged record points close reuter 
reserves	reserves rise underlying billion dlrs may billion april official 
reserves	reserves show record underlying rise may britain gold and currency reserves rose record underlying billion dlrs may following april billion dlrs increase the treasury said the underlying trend indicates the level recent bank england intervention currency markets curb sterling strength was above market expectations which had been for rise between one billion and three billion dlrs the treasury declined comment the figures actual reserves rose billion dlrs may compared with april billion increase total value billion dlrs compared with billion the end april borrowings under the exchange cover scheme were mln dlrs against april mln repayments under the scheme were mln dlrs after mln previously with capital repayments eight mln after three mln last month repayments government debt amounted mln dlrs the underlying reserves increase net borrowings and repayments was larger than the previous record billion dlrs rise seen october the may increase represents the seventh monthly rise with reserves billion dlrs that period and billion since the start reuter 
interest	nakasone sumita agree discount rate cut not appropriate now central bank sources 
interest	nakasone sumita agree rate cut not appropriate prime minister yasuhiro nakasone today agreed with bank japan governor satoshi sumita that further cut the discount rate was not appropriate present central bank sources said they told reuters the two discussed the subject routine meeting sumita told nakasone did not feel rate cut was appropriate and nakasone expressed his understanding the sources said currency dealers have speculated that japan and west germany might come under pressure next week venice summit cut interest rates boost their economies nakasone but not sumita due attend the summit reuter 
trade	japan concerned trade threats minister japan disappointed the recent threats trade retaliation from the european community just the trade situation between the two improving japanese trade and industry minister hajime tamura said deeply concerned that the has moved take harsher line toward japan despite this tangible improvement said speech prepared for delivery the opening new centre designed improve understanding between the two sides last week foreign ministers the nations agreed impose tariffs range unspecified japanese electrical goods unless tokyo opened its markets more exports tamura referred pct rise japanese imports manufactured goods the year ended march feel this strong step the road balance through expansion while not deny the existence the trade deficit between japan and the believe should rectified not reducing trade through import restrictions export restraints but expanding the overall trade tamura said reuter 
acq	glynwed buys gallaher units for around mln stg glynwed international plc glyn said had bought all the issued shares two companies belonging gallaher ltd subsidiary american brands inc amb deal worth around mln stg the full names the companies purchased from gallaher are formatura iniezione polimeri spa genoa and fip ltd weybridge consideration for the purchases which will based the net asset values per share the companies has yet finalised but some nine mln stg the total represents debt assumed glynwed fip manufacturer valves and other pressure pipe fittings thermoplastics its products are complementary those glynwed subsidiaries durapipe and philmac the acquisitions appreciably develop and strengthen glynwed strategic position the thermoplastic pipework systems market the sale gallaher reflects decision dispose more peripheral businesses proceeds the sale will used the continuing expansion the gallaher group glynwed shares were after the announcement gallaher not quoted the london stock exchange reuter 
money-fx	kuwaiti dinar rates firm aid window open interest rates kuwaiti dinar deposits held firm scattered trading despite central bank decision revive limited funding lines dealers said the central bank which last tuesday shut daily aid window through which lent funds one year reopened the facility for three month money which was available seven pct they said offered one month funds seven pct through swap facilities dealers said today central bank action combined with sales dollars some banks helped ease recent credit squeeze engineered the monetary authority stem rush for the currency arising from attractive interest rates and gulf tension dealers said however one dealer noted the market still unsettled overnight funds bid pct the outset business traded pct before easing liquidity dragged offers down pct the close tomorrow next for which buy sell quotes started pct ended eight spot next was indicated seven after opening bids dealers quoted one week eight seven against early one month rates were the same level after trade eight then dealers quoted three months seven pct and six month one year funds seven six pct they reported offshore offers overnight tomorrow next eight and one year pct towards the close the central bank fixed its dinar exchange rate steady the dollar against yesterday the spot dinar was reuter 
acq	boeing starts argosystems argi bid boeing said has started the dlr per share tender offer for all shares argosystems inc that announced yesterday morning newspaper advertisement the company said the offer withdrawal rights and proration deadline all expire june unless extended the offer not conditioned receipt any minimum number shares boeing said least pct argosystems shares are tendered said will buy all shares but less than pct are tendered said plans buy only pct the offer boeing said less than pct argosystems shares are tendered but the purchase all shares tendered along with the exercise options holds would give over pct argosystems boeing may buy all shares tendered argosystems has granted boeing option buy new shares pct interest dlrs each and shareholders have granted boeing option purchase shares the same price about pct those now outstanding without taking the company option into consideration merger the tender price that has been approved the argosystems board follow the offer reuter 
acq	dumez has united westburne uwi shares dumez investments inc said accepting and paying for shares united westburne industries ltd response its dlr per share tender offer and has extended the offer until june dumez pct owned dumez dump and pct unicorp canada corp unia said the shares represent pct those not controlled westburne international ltd which dumez previously acquired tender reuter 
acq	italy agip petroli buys stake company state oil firm agip petroli spa said has acquired pct stake steuart petroleum independent oil products company financial terms were not disclosed agip petroli subsidiary state energy concern ente nazionali idrocarburi said statement that the remaining pct the firm owned steuart investment holding company that also operates the sectors transportation hotels and insurance the italian firm said steuart petroleum operates primarily the east coast reuter 
acq	carolco crc may bid for lieberman lman lieberman enterprises inc said carolco pictures inc negotiating for the acquisition the pct lieberman shares held the families chairman david lieberman and president harold okinow dlrs each and the deal were concluded public shareholders would offered the same price for their shares lieberman said the carolco bid its public shareholders would cash shareholders could offered securities alternative the offer would occur within about days after the closing the sale the initial pct stake the company said the company said final agreement has not yet been reached the first transaction but negotiations are expected concluded early june present management expected continue operate lieberman the company said lieberman distributes prerecorded music video movies and other products reuter 
crude	saudi arabia opposes drastic change oil price saudi arabia oil minister hisham nazer said riyadh would not agree cut oil prices and would not accept mad increase that would drive consumers away told riyadh newspaper saudi arabia follows balanced petroleum policy does not approve decrease prices from current levels and also does not accept mad increase that would drive consumers away and make them try and find alternative sources for energy opec agreed last december cut production after world prices hit new lows they agreed pricing system aimed stabilize the market around dlrs barrel opec scheduled meet vienna june where will review its current oil price and production policy saudi arabia king fahd said last month that wanted oil prices remain stable for the next two years saudi arabia the architect the current pricing and production pact which backed kuwait and the uae the current pact set production ceiling for first half mln bpd and implemented fixed prices based dlrs barrel average reuter 
earn	hanson trust shows sharply higher half year profit six months ended march share diluted interim dividend pre tax profit mln stg mln net profit mln mln sales billion billion operating profit mln mln interest and other income less central expenses credit mln debit six mln company full name hanson trust plc hnsn operating profit sector consumer goods mln stg mln building products mln mln industrial mln same food mln nil sectors consumer goods mln stg mln building products mln mln food seven mln two mln businesses owned and sold during nil nine mln reuter 
earn	harnischfeger industries inc hph qtr net april end oper shr cts cts oper net sales mln mln orders mln mln half oper shr cts cts oper net mln sales mln mln orders mln mln backlog mln mln note prior year net excludes losses from discontinued operations mln dlrs quarter and mln dlrs half net excludes tax credit dlrs credit reversal dlrs quarter credit dlrs nil half results include syscom corp from december purchase and beloit corp from march purchase orders exclude mln dlrs acquired with syscon acquisition backlog january mln dlrs average shares mln mln quarter and mln mln half income tax provisions dlrs dlrs quarter and dlrs dlrs half current quarter tax rate pct benefited from wisconsin department revenue decision the company said reuter 
earn	seal inc sinc qtr april net shr profit cts loss six cts net profit loss sales half shr profit cts profit cts net profit profit sales mln avg shrs reuter 
acq	eni unit agip petroli buys stake company subsidiary state energy concern ente nazionali idrocarburi entn eni said has acquired pct stake steuart petroleum independent oil products company financial terms were not disclosed agip petroli spa said statement that the remaining pct the firm owned steuart investment holding company which also has interests transportation hotels and insurance the italian firm said steuart petroleum operates primarily the east coast the reuter 
earn	del webb investment properties inc dwpa qtr shr seven cts nine cts net revs reuter 
acq	basix corp bas sell unit cubic cub basix corp said has agreed principle sell the stock its automatic toll systems inc subsidiary cubic corp for about mln dlrs the company said would retain automatic toll assets worth about nine mln dlrs dispose over time the company said completion the transaction subject approval both boards and basix banks and the expiration the hart scott rodino waiting period reuter 
earn	oncor inc oncr qtr loss shr loss cts loss five cts net loss loss sales reuter 
acq	resdel rsdl san bar sbar merger deal resdel industries inc said has agreed acquire san bar corp share for share exchange after san bar distributes all shgares its break free corp subsidiary san bar shareholders share for share basis the company said also before the merger san bar would barry hallamore and lloyd hallamore san bar director corporate development dlrs and dlrs respectviely under agreements entered into october reuter 
ship	colombo defend waters india readies flotilla sri lanka today ordered its armed forces defend the island territorial waters india prepared send flotilla with relief supplies that colombo says does not want for the tamils the jaffna peninsula the sudden crisis between sri lanka and its giant neighbour deepened prime minister ranasinghe premadasa told parliament have our territorial limits and nobody can allowed trespass there president junius jayewardene has ordered the army navy and air force protect the island and its territorial waters premadasa said round applause from the house new delhi indian spokesman said the plan send flotilla small unarmed boats with red cross supplies jaffna tomorrow would ahead despite colombo objections the confrontation was the latest result the long and bitter conflict between sri lanka buddhist sinhalese majority and the hindu tamil minority which has strong ethnic and cultural links with india mln tamils reuter 
money-fx	lawson says louvre currency accord satisfactory the louvre agreement the group seven finance ministers and central bankers stabilise currencies has worked well and needs fundamental strengthening the economic summit venice june chancellor the exchequer nigel lawson said previewing the summit which expected would not produce any major new economic initiatives lawson told reporters work remained done improving the conditions for lasting world economic growth side measures boost growth said think possible that there may scope for further reduction interest rates germany added but stressed that had had indication that such move was likely made mention japanese interest rates lawson said the should embark gradual reduction its fiscal deficits over the next two three years said the february louvre accord had produced satisfactory exchange rate stability part thanks heavy coordinated intervention group seven central banks and was content with sterling exchange rate pointing the record billion stg rise may currency reserves announced today said have been playing very full part ourselves have been intervening very much greater extent than had done hitherto lawson said there was risk that the louvre agreement may falter member states did not implement the macro economic commitments underlying the accord certainly would more difficult maintain exchange rate stability countries are seen not implement their commitments paris this respect said the budget deficit was very important noting the billion yen economic package announced japanese prime minister yasuhiro nakasone last week lawson said what really needed japan increase merchandise imports supply side measures are critical there specific range consumer and agricultural goods where they have extremely restrictive regime which wholly unjustified said lawson doubted that tokyo partners would indulge japan bashing the summit especially after the economic stimulation package and the announcement nakasone plans increase japanese development aid over the next three years japan more flexible stance tokyo stock exchange membership would also help deflect criticism said said thought west germany would instead come under pressure the summit adopt similar stimulation measures jack faltering economic growth this respect lawson said hoped bonn would bring forward january part its agreed package tax cuts scheduled for also called bonn push ahead with the privatisation german national industries debt lawson said expected three point british plan alleviate the burden the poorest sub saharan countries make progress venice the plan involving concessional rescheduling sovereign debt the paris club was first proposed the imf and world bank meetings washington earlier this year lawson said would seek consolidate political backing for the plan the venice summit and hoped the programme would finalised the autumn meetings the imf and world bank welcomed the recent moves citicorp and chase manhattan increase sharply their third world debt provisions first blow for realism second because the market response has shown that banks have much less fear from this sort move than they felt before citicorp said banks should follow bank england recommendations strengthening their balance sheets and making more provisions they have done some extent they need more lawson said adding was the banks themselves determine the appropriate size provisions also said the dismantling farm subsidies would discussed the summit there consensus which have push further reuter 
acq	centel cnt completes sale centel corp said completed the sale its water properties serving customers four southwestern kansas communities central kansas utility columbia terms were not disclosed reuter 
acq	csr says proceeding with offer for monier csr ltd csra intends proceed with its planned bid for building materials group monier ltd mnra despite the counter bid from equiticorp tasman ltd etl csr executive director gene herbert told reuters etl said today would offer dlrs each for monier issued capital mln shares plus share alternative this compares with dlr cash element csr proposed bid the proposed offer etl controlled new zealand entrepreneur allan hawkins came after built pct stake monier mln dlr share raid recent days herbert said britain redland plc rdld which holds just under pct monier still supported the csr bid and had told csr not seller said redland wanted maintain and build its operations australia and the where monier has built strong presence notably roofing tile manufacture the csr offer contains put and call option agreement with redland this enables redland accept the csr bid within six months its close lift its stake pct the same period and run monier joint venture with csr csr has said that redland will take the second option etl has declined say why intervened monier beyond describing long term investment etl would bring synergies monier unlike csr which leader building materials herbert said fit better with monier said csr has said that will concentrate development its core businesses sugar and building materials after its moves into energy several years ago asked what thought etl bid sought achieve herbert said puzzled what hawkins strategy one has wonder monier the main target herbert said csr had plans raise its bid and said higher price would difficult justify fundamentals monier was trading dlrs when csr launched its original bid times earnings late april the shares closed dlrs today down cents yesterday after etl withdrew reaching the top foreign shareholding level permitted without foreign investment review board firb approval its bid subject firb approval herbert also said that institutions which are more likely accept share alternative than cash would have judge the respective values etl and csr shares etl the third group become involved possible acquisition monier this year redland held discussions possible takeover before the csr bid emerged but the negotiations foundered the price share analysts said that for this reason they did not think etl intervention would flush out full redland bid although monier ultimate fate rests its hands redland still the driving seat said tim cohen ord minnett ltd adding that redland would happier having csr partner running monier than etl monier independent directors have recommended etl bid reuter 
earn	comp card international inc cucd qtr periods ended april shr cts cts net revs mln mln avg shrs mln mln note net includes gain dlrs seven cts share from tax loss carryforwards reuter 
acq	montrose holding acquire virginia federal virginia federal savings and loan association said has signed definitive agreement acquired montrose holding affiliate montrose capital corp for mln dlrs virginia federal and montrose capital said the agreement provides for the conversion virginia federal from mutual stock association and the purchase pct its stock for mln dlrs montrose according the companies virginia federal has over mln dlrs assets and operates branches virginia virginia federal said the proceeds would enable provide increased mortgage and lending services and enable the company compete more effectively the virginia market the companies said the agreement subject federal home loan bank board approval expected later this year additionally the companies said the converted association would managed board directors consisting the six current virginia federal directors and two representatives montrose holding the senior management virginia federal was expected continue office after the conversion the companies said reuter 
cpi	brazil sarney renews call for war inflation president jose sarney today declared war without quarter inflation and said the government would watch every cent public expenditure sarney addressing his cabinet live television also reiterated that intended remain power for five years until there has been long running political debate about how long his mandate should brazil currently suffering from the worst inflation its history april monthly inflation reached pct reuter 
gnp	pakistan says good economic growth continues pakistan says its economy has continued its recent outstanding performance during the financial year ending june but areas like balance payments investments and energy were causing concern gdp grew line with the average growth rate since and the inflation rate was the lowest since according government economic survey the reform economic regulation had gathered momentum and there was impressive performance five point government program for rural uplift education and poverty alleviation said the survey ministry economic adviser qazi alimullah told news conference that before recent unseasonal rains and hailstorms damaged the wheat crop gdp growth was calculated pct compared pct said the figure might now slide down little around pct the survey said monetary expansion was estimated nine pct date but might rise around pct the year end alimullah said exports rose pct billion dlrs from billion dlrs but the the same time home remittances pakistanis abroad dropped billion dlrs from the level billion more exports and improvement the balance payments situation will required overcome this declining trend home remittances said the survey said the trade deficit was expected fall billion dlrs from three billion dlrs because the boost exports said national investment continued small because poor rate savings about pct gdp said more savings were required maintain possibly step the present growth rate and finance the country seventh five year development plan launched july reuter 
interest	bank france leaves intervention rate unchanged pct official 
cocoa	icco buys tonnes cocoa for buffer stock the international cocoa organization icco buffer stock manager bought tonnes cocoa today for the buffer stock traders said the cocoa believed have been entirely made second hand material they added such purchase would bring cumulative buffer stock purchases tonnes reuter 
acq	acme precision acl buyout bid dropped acme precision products inc said management group has withdrawn six dlr per share leveraged buyout offer acme said the management group dropped its bid due continued weakness the machine tool industry and acme precision operating results and the inability the management group obtain modifications terms its financing commitment said the effect these factors led the management group conclude that the six dlr per share price was excessive under current conditions reuter 
earn	pep boys manny moe and jack inc pby qtr may two net shr cts eight cts net sales mln mln note share adjusted for three for one stock split payable july holders record july one reuter 
acq	elders happy leave carling shares outstanding elders ixl ltd elxa says happy leave preferences shares brewer carling keefe ltd outstanding after undisclosed bidder made offer acquire all carling outstanding preferred stock elders which owns pct carling outstanding common shares previously proposed redeem the carling series preferred shares canadian dlrs each and redeem the series preferreds dlrs share the series and preferred shares carry vote while dividends are paid elders says neither nor carling knows the identity the bidder for carling preferred shares may the bidder offered acquire the carling preferred for dlrs for each series and dlrs for each series share elders said leaving the carling preferred shares outstanding will not affect ongoing plans the company series preferred shareholders had previously rejected carling proposal redeem the shares and series preferred shareholders meeting was adjourned june reuter 
carcass	chicken not main salmonella cause official says representative the poultry industry said statistics showed that chicken less frequently the cause salmonella poisoning than beef dairy products salads and other mixed foods kenneth may president holly farms poultry industries and director the national broiler council told house agriculture subcommittee the incidence salmonella chicken has not increased recent years and that chicken neither the major source the bacterial poisoning nor the cause increase outbreaks the disease may said the center for disease control figures showed that between and chicken was involved four pct all salmonellosis outbreaks while beef accounted for ten pct outbreaks and dairy products six pct may said the remaining outbreaks were caused salads and mixed food turkey seafood pork eggs and other foods may said the chicken industry favored moving away from bird bird inspection procedures risk assessment system better able identify microbial and bacterial contamination poultry however ellen haas executive director public voice for food and health policy said bird bird inspection should retained and labels should attached each ready cook chicken remind consumers about preparation procedures necessary avoid illness haas also called for review present chicken industry inspection methods that she said can worsen poultry hazards reuter 
acq	jones and vining jnsv starts bid for shares jones and vining inc said has started tender offer for all its own shares five dlrs per share the company said will hold special meeting july for vote approval merger the tender price said the price paid the tender and merger could reduced any fees and expenses the court may award counsel for the plaintiffs the class action suit brought against delaware chancery court ronda inc the plaintfiffs counsel are seeking fees cts per share jones and vining said the company said the court has scheduled hearing the proposed settlement the suit for july eight the company said the start the tender offer and the calling the special meeting are conditions the settlement and completion the tender and merger are conditioned final approval the settlement reuter 
acq	healthsouth hsrc makes acquisition healthsouth rehabilitation corp said has acquired pine island sports medicine center fort lauderdale fla and will incorporate the facility into its healthsouth rehabilitation center fort lauderdale which now under construction and should operation mid summer terms were not disclosed reuter 
acq	banc one one makes indiana acquisition banc one corp said has completed the acquisition first national bank bloomington ind which has assets mln dlrs reuter 
acq	orion broadcast obgi buys ford unit orion broadcast group inc said its majority owned orion financial services corp subsidiary has agreed purchase realty services inc from ford motor for dlrs cash and notes said closing expected within days after receipt regulatory approvals provides loan collection accounting data processing and administrative services the real estate industry reuter 
earn	phh group inc phh qtr april net shr cts cts net mln mln revs mln mln mths shr dlrs dlrs net mln mln revs billion billion note prior year restated reflect results from current year acquisitions reuter 
money-fx	lawson calls intervention proof stability goal the scale foreign exchange intervention the bank england has carried out recently clear proof britain determination stabilise exchange rates agreed between the group seven industrialised countries paris february chancellor the exchequer nigel lawson said saying was content with sterling current value lawson told reporters wanted maintain the exchange rate stability have all signed for declined say favoured rise fall from present sterling levels may currency reserves out today showed record billion stg rise pointing massive currency intervention april reserves rose hefty billion stg pointing the reserves data lawson said have been playing very full part ourselves meeting our commitments toward exchange rate stability agreed paris wish see stability continuing added asked which techniques were available preserve stability lawson said both central bank intervention and interest rate changes could used tackle the market pressures there are from time time interest rate stability not objective that sense rates have moved and down times added lawson said expected intervention sterilised draining excess sterling liquidity from the market through new issues government securities and foreign currency sales when the market allowed this would limit the inflationary impact intervention said sterilisation will dictated market tactics not necessarily the month which intervention occurs lawson said confident that can sterilise this scale reuter 
earn	gulf and western inc qtr april net shr cts cts net mln mln revs mln mln six mths shr dlrs dlrs net mln mln revs billion billion reuter 
trade	turkish trade deficit widens april turkey trade deficit widened mln dlrs april from mln march and mln april the state statistics institute said the deficit for the first quarter widened billion dlrs from billion year earlier april exports totalled mln dlrs compared with imports billion exports the first four months were worth billion dlrs compared with imports billion reuter 
earn	united financial banking ufbc qtr net shr four cts cts net note full name united financial banking cos inc net includes loan loss provision nil dlrs reuter 
earn	brown group inc qtr may net shr cts cts net sales mln mln avg shrs reuter 
crude	energy secretary sees higher oil prices energy secretary donald hodel said expects oil prices rise significantly the year probably around dlrs barrel current dollars anticipate significant increase thirty three dlrs barrel not unreasonable hodel told the senate energy committee hodel said the loss some domestic oil production through the shutdown stripper barrels day less wells because low prices was probably permanent said was also concerned the decline domestic oil exploration hodel urged congress approve oil exploration section the arctic national wildlife refuge alaska said geologic condtions the area were favorable for the discovery oil fields equal those nearby prudhoe bay reuter 
earn	northwest teleproductions nwtl qtr net shr cts cts net sales year shr cts cts net sales mln reuter 
acq	judge decide burlington bur several days district court judge eugene gordon said will decide the next few days whether grant burlington industries inc request stop takeover samjens acquisition corp not know how come down this preliminary injunction gordon said after listening arguments attorneys for days been long time since was deluged with much information have been have consider what been presented and issue opinion this both sides cannot winners said burlington requested the injunction stop takeover effort samjens claiming the partnership used illegally obtained confidential information about the company make its offer also alleges there would anti trust violations samjens formed asher edelman and dominion textiles inc canada were succeed samjens last week topped dlr per share offer for burlington from morgan stanley group one dlr per share morgan stanley made its billion dlr bid after samjens bid dlrs per share for burlington burlington lawyers told the court the injunction not granted samjens would win control burlington samjens lawyer argued that the judge granted the injunction would kill the offer jay greenfield attorney for samjens said the partnership would suffer irreparable harm the injunction were granted there only one burlington said cannot get that then amount money can compensate greenfield also said samjens could sell its holdings burlington for mln dlrs don want that not this for the money said irving nathan burlington lawyer reiterated that information provided james ammeen former burlington executive was crucial dominion decision attempt takeover burlington dominion relied the information provided the insider jim ammeen nathan said attorney for ammeen who named defendant asked the court dismiss the lawsuit against his client the judge said would not rule the request today reuter 
acq	allegis aeg sell canadian hotels allegis corp said has created limited partnership sell selected hotels canada the public said the offering expected raise excess mln canadian dlrs and will completed the end september the limited partnership will similar the westin hotels limited partnership completed last year when allegis sold westin hotels san francisco and chicago allegis reported pretax gain mln dlrs result that partnership allegis spokesman said the offerings have been planning stages for long time and are unrelated recent corporate developments such the firm recapitalization plan and threatened takeover investor group lead coniston partners and the pilots its united airlines unit the spokesman said the company has not yet identified which its canadian hotels will offered for sale allegis has pct ownership westin hotels vancouver calgary ottawa and toronto and pct interest hilton international hotels toronto and montreal owns pct the westin edmonton richard ferris chairman allegis said statement the hotel limited partnerships allow the company convert unrecognized asset appreciation into cash with the proceeds from the earlier limited partnership the money will used for general corporate needs the spokesman said merrill lynch capital markets and wood gundy will lead underwriters for the public offering the limited partnership will offered outside the allegis said reuter 
acq	raycomm transworld racm make acquisition raycomm transworld industries inc said has agreed principle subject board approvals acquire spiridellis consulting group inc privately held computer services consulting firm for number common shares determined based pretax earnings spiridellis over five year period the company said will gaurantee that almost all the issued shares will attain price levels ranging from five nine dlrs each for two years after their issuance said spiridellis had revenues dlrs calendar reuter 
acq	mmm acquires control data cda unit minnesota mining and manufacturing said acquired computerized hospital information systems business from control data corp terms were not disclosed the business which has employees and supplies computers and software for hospital information systems will integrated into hospital software business control data said the divestiture was part its strategy focus narrower markets reuter 
crude	lukman sees stable oil price for next couple years the current crude oil price between and dlrs barrel will remain stable over the next couple years rising only one two dlrs barrel per annum keep with inflation opec president rilwanu lukman said lukman who was speaking during talks with swedish trade officials said the stable price depended upon output restraint both opec and non opec oil producers swedish government officials said they said lukman who also nigerian oil minister made the remarks whilst talking about the connection between third world debt and industrialised nations crude oil output controls did not necessarily mean higher energy bills for the world industrial nations lukman said although very low oil prices such those seen around the beginning the year may appear beneficial for the industrial countries that depend imported energy they would only lead wastage and overdependence the fuel the long term said this turn would bring swing back extremely high prices added sweden heavily dependent imported oil suffered major crisis the mid when oil prices spiralled reuter 
alum	alcan reduces cost planned smelter alcan aluminium ltd said has cut the expected cost its planned laterriere quebec smelter using enhanced grande baie reduction technology the company said the decision use prebaked anode technolgy used its grande baie quebec and sebree smelters was taken primarily for cost reasons result said the estimated total cost the planned smelter will held mln dlrs the low end the range estimated mid may while the cost the first phase was cut mln dlrs from the projected mln dlrs reuter 
gnp	german experts say further economic stimulus the west german government independent council economic experts believes further stimulation the economy inappropriate government spokesman friedhelm ost said statement released ost after meeting chancellor helmut kohl and senior government officials with the council said the experts believed ecomomic growth two pct was achievable added the council believed intensification the already expansionary stimulation monetary and financial policy not called for ost statement said experts believed further pressure west germany adapt external economic factors would not increase the government regularly uses the term changed external economic factors when referring the fall the dollar which has severely damaged west german exports bonn officials have said they expect exports pick during the year but could still fall below the level along with other leading industrial countries west germany agreed package measures meeting paris february aimed stemming the fall the dollar the stance taken the experts backs the official position the west german government ahead next week seven nation summit venice where bonn expected pressed the and other partners boost its economy west german government officials have stressed bonn not position stimulate growth further since tax cuts due next year and are already stretching the budget the bundesbank has also ruled out quick cut official interest rates although sees market rates continuing low the experts prediction for economic growth this year between and two pct slight downward revision from forecast made last november when two pct growth was forecast many independent forecasters have revised down predictions light the downturn exports the government itself has said expects growth just under two pct compared with pct expansion reuter 
earn	royal bank canada qtr april net shr basic cts dlrs shr diluted cts cts net six mths shr basic dlrs dlrs shr diluted dlrs dlrs net loans billion billion deposits billion billion assets billion billion avg shrs mln mln reuter 
carcass	usda official urges chicken handling labels former agriculture department official urged the department require that packages chicken labeled with handling and cooking instructions protect the public from disease carol tucker foreman president foreman and heidepriem and former assistant secretary agriculture for food and consumer services told house agriculture subcommittee every hour every day americans become victims chicken contaminated with salmonella she said every two and half weeks american dies salmonellosis complications arising from and the incidence poisoning from poultry has increased steadily over the past several years foreman said usda should follow national academy sciences recommendation label chicken packages remind consumers preparation procedures necessary avoid illness she urged usda require that birds washed thoroughly before they are defeathered and that defeathering machines cleaned several times day that birds condemned their intestines are punctured there visible fecal contamination and that chiller water changed more often kenneth blaylock president the american federation government employees said poultry industry recommendation move away from the current bird bird inspection could prove disastrous said strengthened bird bird inspection with slower line speeds was the foundation upon which new inspection techniques should overlaid reuter 
acq	century ccc buy puerto rican century communications corp said had entered into agreement acquire all the assets community cable vision puerto rico associates and its associated companies for about mln dlrs century said anticipates that media partners which jointly owns with century company called cable television greater san juan will join acquisition and management community cable century said community cable located san juan puerto rico reuter 
trade	weighs lifting japanese trade curbs the white house has completed new review japanese semiconductor trading practices but has not yet decided whether trade sanctions levied against japan last april should lifted officials said they said the president economic policy council looked japan adherence the japanese semiconductor pact yesterday and that announcement may made shortly but there was hint what the announcement might officials have said the pct tariffs mln dlrs japanese exports could modified japan was found honoring portion its semiconductor pact but they also noted that the white house has said was unlikely the tariffs would lifted before the meeting the world seven major economic powers venice june the officials added that while the curbs complicated japanese economic cooperation they did serve blunt congressional criticism that the reagan administrtation was not taking tough actions reduce trade deficit reagan imposed the sanctions april retaliation for japan failure honor commitments end dumping semiconductors world markets less than production costs and open its own market goods the sanctions were levied certain japanese television sets personal computers and hand held power tools reagan imposing the curbs said they would lifted soon there was evidence pattern that japan was adhering the pact reuter 
interest	house speaker wright concerned interest rate rise under greenspan 
crude	energy secretary sees higher oil prices energy secretary donald hodel said expects oil prices rise significantly the year probably around dlrs barrel current dollars anticipate significant increase thirty three dlrs barrel not unreasonable hodel told the senate energy committee hodel said the loss some domestic oil production through the shutdown stripper barrels day less wells because low prices was probably permanent said was also concerned the decline domestic oil exploration hodel urged congress approve oil exploration section the arctic national wildlife refuge alaska said geologic condtions the area were favorable for the discovery oil fields equal those nearby prudhoe bay the area could contain potentially recoverable oil resources more than billion barrels amount nearly equal the prudhoe bay oil field which currently provides almost one fifth domestic production hodel said said production from the new section could begin about the time prudhoe bay production begins decline without endangering caribou other wildlife the area reuter 
reserves	danish reserves rise billion crowns may denmark net official reserves rose billion crowns may from billion april against billion may the central bank said its monthly balance sheet report total net reserves including reserves held commercial and major savings banks and corrected for exchange rate adjustments rose billion crowns may from billion april against billion may the bank said statement that public loan transactions accounted for net capital import billion crowns may with net registered private capital imports billion this the net sale danish crown bonds other countries totalled about billion crowns there was balance between the purchase and sale foreign securities the statement added the central bank said that figures for private bank reserves and registered capital movements were provisional and there was estimate yet unregistered movements therefore not possible this basis draw conclusions about the developments the external current account the statement added reuter 
acq	stewart stew sells plant sara lee sle stewart sandwiches inc said has sold its coffee roasting plant sara lee corp superior coffee and foods subsidiary for undisclosed terms the company said superior will become the exclusive packer squire labeled coffee products which are marketed stewart and stewart will provide equipment service and distribution suppoort for some superior coffee accounts reuter 
earn	aep industries inc aepi qtr april shr cts cts net sales mln mln avg shrs half shr cts cts net sales mln mln avg shrs note current year net both periods includes nonrecurring gain dlrs reuter 
acq	ncnb ncb merge with centrabank ncnb corp said the board governors the federal reserve system approved its application merge with centrabank inc baltimore expected completed july the company said the board approval included the dismissal protest the baltimore based maryland alliance for responsible investing against ncnb performance under the community reinvestment act the company said maryland alliance wanted the merger blocked the grounds that ncnb inadequately served the credit and financial needs low income and minority communities its markets the company said denied the claim reuter 
acq	spectra physics spy mulls sale restructure spectra physics inc said considering the possibility recapitalizing restructuring seeking buyer for the company following its rejection unsolicitied dlr share bid from ciba geigy corp filing with the securities and exchange commission the san jose calif gas lasers and accessories company also said its board sunday agreed plan that gives top executives bonuses ranging from pct their base salary they stay with the company through august rejecting the takeover proposal the subsidiary swiss based ciba geigy the company said was unfair the spectra physics board voted unanimously with two ciba geigy representatives not participating reject the swiss based chemical and pharmaceutical company takeover bid citing opinion from its financial advsior morgan stanley and inc that inadequate and unfair from financial point view the holders shares the company said the board also authorized special committee and morgan stanley vigorously investigate pursue and authorize any alternatives which would maximize the value shareholders investment the company the company said among the alternatives the special committee will consider are sale the company third party for more than dlrs share recapitalization restructuring including self tender offers and asset dispositions through the use dividends spectra physics said the retention plan for the top officers will pay average bonus percentage pct salary said spectra physics said its board approved the plan order encourage key operating personnel remain with the company during the period turmoil and uncertainty engendered the ciba geigy offer under the plan the executives would entitled their cash bonuses they stay with the company through august but could receive them earlier they are fired for reasons other than gross and willful misconduct they leave the company because their salaries have been sharply cut spectra physics also said filed suit against ciba geigy yesterday district court wilmington del charging with making takeover bid that was false and misleading violation securities law and with violating the intent july standstill agreement spectra physics said ciba geigy indicated the time the standstill agreement that would not make unsolicited takeover proposal for the company and that the intent the agreement was that ciba geigy would not acquire more than pct the company unless there was another takeover threat ciba geigy was pct spectra physics and reliance group holdings rel which controlled new york investor saul steinberg controls pct spectra physics said the agreement prevents ciba geigy from raising its stake beyond pct through jan unless another person get more than pct its voting power reuter 
acq	atlantic richfield arc unit buys technology atlantic richfield said has acquired exclusive worldwide rights the methyl methacrylate technology texas eastern corp halcon group affiliate for undisclosed terms the company said the technology will allow introduce cleaner and more efficient way making methyl methacrylate liquid monomer used make resins for acrylic sheet coatings molded parts and products and plastic impact modifiers arco said reviewing options for commercialization the technology reuter 
trade	shultz welcomes tokyo economic package secretary state george shultz said the billion yen economic package announced tokyo last week went further than the had expected but said the would not lift the selective economic sanctions imposed japanese imports april until tokyo changed its sales policies concerning computer microchips speaking televised news conference linking several european capitals shultz said was heartening that the japanese had confronted the problem stimulating domestic and global demand there even greater amount stimulus than was originally thought said shultz speaking from washington lot more than nothing more than was talked about when prime minister yasuhiro nakasone was here involves major reduction tax rates and believe that getting the tax burden down one way stimulating the economy added but asked japanese reporters also linked into the news conference whether the positive reaction meant the might decide next week venice summit lift its sanctions some japanese electronic goods shultz replied these sanctions were undertaken the basis agreement that had been reached between the united states and japan various sale practices and prices relating the chip market they will lifted the facts change japan the agreement that made become evident said officials had only been able monitor the situation for month and that was impossible determine trend only one month data the imposed pct import duties personal computers colour televisions and power tools alleging that japan had violated last september bilateral agreement selling computer chips below fair market value shultz said west germany and other nations would also well look what they could stimulate demand asked whether the could reasonably ask its allies take action stimulate the world economy without bold american initiative reduce the size the federal budget deficit shultz said moves were already underway tackle the problem said the end the current fiscal year the deficit would probably reduced around billion dlrs against last year and that the budget being worked this year would contain major reduction reuter 
acq	champion home chb sells two properties champion home builders inc said sold the commerce meadows site manufactured housing rental community commerce township michigan for pre tax gain about dlrs and the heron cay site adult community vero beach florida for nominal pre tax gain the company said the sales proceeds will partly used reduce debt said shifting its focus away from the development communities requiring significant equity and having lengthy projected life cycles the company also said along with local landowners and investors will acquire acre tract northtowne meadows the toledo ohio area for development into home sites and three acres commercial land terms the transactions and other parties involved were not disclosed reuter 
veg-oil	acp states say oils tax plan breaks accords developing countries said the european community would breach two international agreements went ahead with its plans for oils and fats tax ambassadors the from african caribbean and pacific acp states told press conference the tax would hit the exports acp countries they said the failed follow consultation procedures laid down the lome convention which regulates relations between acp states and the bloc for moves which could affect trade between the two sides they also said the would breach undertaking not bring new protectionist measures during the current punta del este round world trade negotiations being held under gatt general agreement tariffs and trade auspices the commission has proposed tax european currency units ecus tonne both imported and produced vegetable and marine fats for human consumption which could raise two billion ecus year farm ministers who would have approve such tax are split the issue and are expected decide marathon meeting farm prices beginning luxembourg june jamaican ambassador leslie wilson said acp countries are convinced this would lead industry substituting products made within the bloc for oil and fat imports the acp estimates this would result fall mln ecus its member country exports can believe the would willingly take measures undermine our countries but such would the impact these measures wilson said the and malaysia say their exports would also hit the proposed tax and they may take retaliatory action approved wilson said the acp would take such steps only very last resort but added that the acp touch with other countries which oppose the plan wilson who was chairing the news conference made clear jamaica itself would not hit the tax does not export oils and fats among the worst hit countries would ivory coast senegal nigeria and papua new guinea the acp says reuter 
earn	burlington coat factory bcf qtr net quarter ended may shr cts cts net sales mln mln six mths shr dlrs dlrs net mln mln sales mln mln note full name burlington coat factory warehouse corp reuter 
earn	cml group inc cmli qtr net qtr ended may shr cts cts net revs mln mln avg shrs nine mths shr dlrs cts net revs mln mln avg shrs reuter 
acq	ball corp bll completes acquisition verac ball corp said completed the acquisition privately held verac inc terms were not disclosed the company said the san diego based defense systems and software development company had sales about mln dlrs and will operate part ball technical products group reuter 
earn	nodaway valley nvco qtr net qtr ended april shr seven cts cts net revs reuter 
ship	need for bigger allied force gulf played down secretary state george shultz said today that boost allied forces the mideast gulf was not vital protect shipping against attack but that possible allied contributions should examined asked saw the need for greater military presence the allies the gulf shultz told reporters not necessarily particularly but said adequate force was needed deter attack and noted that the british and the french well the united states maintained naval contingents there have look things that others might said reuter 
earn	gamma biologicals inc gama qtr march shr profit four cts loss cts net profit loss sales year shr loss cts loss cts net loss loss sales mln mln reuter 
gold	skyline skx expects begin mine july skyline explorations ltd said expects construction can begin next month gold mine johnny mountain camp located miles north vancouver the company said contract has been let for tons per day mill and the company receiving cooperation from provincial and federal agencies its stage one report approval principal which required before actual construction can begin skyline said optimistic the approval principal will received late june which time expects have confirmed threshold tonnage and grade targets construction can begin july skyline said the exploration drift vien east johnny mountain has advanced feet the vein continuous averaging four feet thick plus altered mineralized hanging wall said periodic face samples indicate average grade ounces per ton ore ranging from low ounce per ton high ounces per ton reuter 
earn	london house inc lond year april net shr cts cts net revs avg shrs mln mln reuter 
acq	group has pct distributed logic dlog investor group led technology growth fund ltd aspen colo investment firm said has acquired shares distributed logic corp pct the total and may try influence the company filing with the securities and exchange commission the group which also includes individual investors and non profit foundation said bought the stake for dlrs investment the anaheim calif company but also said investigating the possibility seeking influence the composition the management the company and may increase its stake reuter 
crude	major pipeline may closed several days the operator major crude oil pipeline shutdown because flood damage said may several days before repairs are made and the system functioning again dan stevens manager public and government affairs texaco inc operator the pipeline through its subsidiary texaco pipeline said the company hopes repairs will begin about five days and expects take several more days complete this point are lining what know need get the job done stevens said adding that the timing for repairs will depend the damage the pipeline which difficult assess because flooding the red river the pipeline was shipping roughly barrels crude oil per day about pct its capacity during the days preceding its shutdown saturday stevens said the pipeline was shut down from cushing okla witchita falls kan saturday due undetermined leak the red river crossing near the oklahoma texas border because severe rains spokesman for texaco said stevens said was reasonable suggest the pipeline could operate full capacity when reopens order make for the shortfull but cautioned they will talk with customers determine their requirements oil analysts and traders said they were not sure the shutdown will continue raise oil prices monday after texaco confirmed that the pipeline had been closed west texas intermediate crude the spot market and new york mercantile exchange energy futures complex rose cts barrel stevens said was reasonable suggest the pipeline could operate full capacity when reopens order make for the shortfull but cautioned they will talk with customers determine their requirements oil analysts and traders said they were not sure the shutdown will continue raise oil prices monday after texaco confirmed that the pipeline had been closed west texas intermediate crude the spot market and new york mercantile exchange energy futures complex rose cts barrel reuter 
acq	neti technologies netfc sells subsidiary neti technologies inc said has sold for over four mln dlrs cash notes and the assumption liabilities its huron leasing inc subsidiary group investors headed former huron executive the company said the transaction will yield about two mln dlrs cash huron sells leases and services computer hardware the transaction subject approval the montreal and vancouver stock exchange and the arrangement financing june reuter 
acq	pacificorp ppw buys buys computer firm pacificorp said acquired thomas nationwide computer corp for mln dlrs cash and mln dlrs deferred consideration depending the future performance the company thomas nationwide leases and markets new and used international business machines corp equipment pacificorp said said thomas nationwide will combined with its systems leasing corp unit maclean reuter 
pet-chem	fmc corp fmc peroxide venture fmc corp said has entered into equally owned joint venture with indo thai synthetics called thai peroxide ltd build hydrogen peroxide plant with initial capacity metric tonnes pct peroxide north bangkok the company said the plant expected starft operating the fourth quarter said the venture received grants and incentives from the government thailand reuter 
acq	investment firm ups france fund frn stake vbi corp british west indies investment firm told the securities and exchange commission raised its stake france fund inc shares pct the total from shares pct vbi said bought france fund common shares between april and june prices ranging from dlrs share reuter 
acq	lynch lgl plans offer for becor bcw stock lynch corp said will offer dlrs share cash dlrs subordinated debentures and share new company for each becor western inc share outstanding lynch said its proposed offer substantially improves over the offer dlrs share cash and dlrs senior sinking fund debentures made bcw acquisition inc formed becor management lynch chairman mario gabelli who heads group which owns pct becor mln outstanding shares said the lynch bid about one dlr better than the present offer gabelli previously said filing with the securities and exchange commission felt the becor managment buyout was unfar the lynch officer said was invited other becor shareholders make offer following sale becor aerospace subsidiary february the management group led president william winter announced plans for mln dlr leveraged buyout was planning take becor for about mln dlrs shareholder vote the buyout offer scheduled for june four reuter 
pet-chem	goodrich canada studies plant the quebec government said joined with goodrich canada inc study the feasability building vinyl chloride monomer plant montreal the plant would supply manufacturers pvc construction and other materials eastern canada and the northeastern government officials said theys said the plant would cost about mln canadian dlrs with production beginning economic conditions are right more the quebec government has said wants the project proceed because would provide future demand for petromont inc petrochemical products petromont jointly owned union carbide canada ltd ucc and the quebec government sgf industrial development group its montreal plant would provide ethylene raw material for the project quebec said also wants interprovincial pipe line ltd ipipf adapt its pipeline from sarnia ont montreal carry natural gas liquids decision that will made the federal national energy board said the pipeline could provide petromont with feedstock one third the cost moving rail reuter 
cocoa	icco buffer stock manager buy tonnes cocoa wednesday june official 
cocoa	icco buffer buy tonnes cocoa june the buffer stock manager the international cocoa organization icco will tender for about tonnes cocoa beans wednesday june the icco said statement said all other conditions remain unchanged from the previous announcement these conditions are that offers from registered companies should pounds sterling for cocoa beans for which standard differentials have been set the icco buffer stock rules and can for cocoa afloat through december shipment and spot december arrival delivery the basis position will afloat may july shipment june arrival delivery for later positions the appropriate carrying costs will taken into account the deadline for the receipt offers the manager shall hrs london time gmt the case offers emanating from the secondhand market and hours the case offers emanating from the origins the competitiveness offers will assessed taking into account the standard differentials the cost taking cocoa into store currently pounds sterling from cif landed and pounds sterling from cif shipping weights store and the cost carry which currently pounds sterling per month the icco said more than four offers will considered from each offering party added reuter 
acq	group lifts stake scandinavia fund scf foreign investment group told the securities and exchange commission raised its stake scandinavia fund inc shares pct the total outstanding from shares pct the group which includes ingemar rydin industritillbehor swedish firm vbi corp british west indies investment firm and norwegian investor erik vik said bought scandinavia common shares since april prices ranging from dlrs share reuter 
copper	mueller brass lowers product prices mueller brass said that effective with shipments today adjusting the price all brass mill products except free cutting brass rod and related alloys and copper water tube and related products reflect contained copper values cents pound down two cents reuter 
fuel	fuel storage tanks france burst into flames two people were missing and six injured after tanks containing thousands cubic metres fuel burst into flames today shell storage unit lyon rescue workers said the blaze broke out with explosion around local time gmt shell subsidiary the royal dutch shell group some firemen fought the flames the gasoline storage unit edouard herriot riverside port complex and appeared have the blaze under control night fell the entire southern section lyon was cordoned off the fire destroyed five giant tanks and threatened four others the shell spokesman said said that the company estimated between six and seven thousand cubic metres domestic fuel oil gasoline and additives had been burned the total capacity the burning tanks was over cubic metres but some had been empty when explosion started today fire added reuter 
acq	pay pak pnp receives amended proposal pay pak stores inc said received revision one the two previously disclosed proposals buy the company pay pak said that the proposal from leveraged buyout firm had been amended increase the dividend rate the cumulative preferred stock received pnp shareholders from pct pct previoiusly announced the proposal calls for transaction which pnp shareholders would receive combination dlrs cash and dlrs liquidation value cumulative preferred stock for each common share under the other proposal received from paul bilzerian pnp shareholders would receive blended basis dlrs cash and dlrs liquidation value cumulative redeemable preferred stock for each common share the company said under the bilzerian proposal the dividend rate the preferred stock would set that the joint opinion the financial advisor bilzerian and the financial advisor pay pak the preferred stock would trade its liquidation value fully distributed basis the company said reuter 
ship	protect only american ships military forces the mideast gulf are under orders protect only american flag vessels and occasional arms deliveries other ships non belligerent states the area the pentagon said today one has ever stated supported policy protecting all shipping those waters pentagon spokesman bob sims said the reagan administration drew plans increase the protective military presence the gulf sims denied published reports that defense secretary caspar weinberger sought air cover protect all neutral shipping the western gulf from attacks iran and iraq have said repeatedly only american flag vessels are under our protection with the exception limited case case basis ships carrying our foreign military sales equipment friendly non belligerent states the region sims said warships the gulf two weeks ago protected kuwaiti ship which sailed bahrain with arms for bahrain and kuwait but sims said washington had received assurances that the the arms would not used elsewhere said kuwait which turning oil tankers over firms fly the american flag and protected the warships not considered belligerent despite iranian charges that kuwait supporting iraq the gulf war kuwaiti tankers have come under repeated iranian attack sims refused say how the united states will beef its seven ship middle east task force the gulf protect the kuaiti tankers but pentagon officials said that additional ships and air cover are under consideration reuter 
acq	viacom says federal court rejects request block planned merger 
crude	asamera asm completes refinery sale asamera inc said wholly owned asamera oil inc concluded the mln dlr sale its denver refinery total petroleum north america ltd addition total purchasing crude oil and refined product inventories market value asamera said reuter 
acq	court declines block viacom via merger viacom international inc said the district court for the southern district new york denied the motion carsey werner for temporary injunction block the proposed merger viacom with subsidiary national amusements inc carsey werner the producer the cosby show reuter 
acq	aegon aegn buys life investors shares aegon holding corp unit aegon the netherlands and life investors inc linv said they have purchased about shares life investors common stock for dlrs per share cash the purchase part agreement between the two companies made november saying that before each april between and the companies would offer buy one sixth the number life investors common stock outstanding dec not already owned aegon dec they would offer buy any and all remaining shares reuter 
acq	wesbanco wsbc acquiring bank sissonville wesbanco inc said its board executed merger agreement with the bank sissonville when the merger completed each the shares the bank sissonville common stock outstanding will converted into shares wesbanco common stock the company said the bank sissonville has total assets mln dlrs dec the company said reuter 
earn	municipal financial corp mfc six mths net period ended april shr cts cts shr diluted cts cts net revs mln mln reuter 
earn	commonwealth mortgage ccmc qtr net qtr ends april shr cts cts net dlrs dlrs avg shrs mths shr dlrs cts net dlrs dlrs avg shrs note full name company commonwealth mortgage inc reuter 
earn	aaron rents inc aron year net year ended march shr cts dlrs net rev mln mln reuter 
acq	holllinger hlg paying mln dlrs for buy hollinger inc will pay about mln dlrs cash for its previously reported acquisition privately owned unimedia inc chairman conrad black told reporters after the annual meeting confirming published report commenting press reports about the mln dlr price tag black said that would not wildly inaccurate although declined disclose the actual cost montreal based unimedia quebec third largest newspaper group with three french language daily newspapers quebec city ottawa and chicoutimi quebec and four printing plants ontario and quebec black added that hollinger would also continue seeking acquisitions daily newspapers with circulation under readers said hollinger was currently talking about such newspapers the where the company currently owns dailies there really end the ones that are available told reporters although added that most remaining acquisition opportunities are the said that hollinger pct owned daily telegraph plc london should become profitable this year fourth quarter for full year the daily telegraph could break even better said black citing major reductions labor costs and improved technology the telegraph britain largest circulation quality daily the telegraph lost mln canadian dlrs last year daily telegraph chief executive andrew knight told reporters after the meeting that the telegraph daily circulation had risen since september about weekdays despite added competition from the new independent daily newspaper knight said the independent was not affecting the telegraph growth but was making inroads into the circulation other london quality dailies such the times and the guardian hollinger chairman black predicted hollinger would post net income about mln dlrs one dlr share including extraordinary gains from previous sales discontinued operations hollinger lost mln dlrs dlrs share last year fewer average shares and after extraordinary loss mln dlrs black told shareholders that first quarter operating earnings continuing operations amounted dlrs against year ago loss dlrs revenues continuing operations rose mln dlrs from mln dlrs last year which did not include daily telegraph revenues added consolidated first quarter figures were not disclosed said the daily telegraph first quarter operating loss was sharply reduced from last year reuter 
nat-gas	texas eastern tex unit files for new rates algonquin gas transmission unit texas eastern corp said has filed for federal energy regulatory commission approval new rate schedules said has also filed for proposed service agreements for interruptible and firm transportation service algonquin said the filing would allow its customers move available spot gas supplies price competitive markets reuter 
iron-steel	usx unit raises prices certain grades usx corp uss division said was raising prices for all hot rolled bar and semi finished products series grades dlrs per ton effective july one the company said the increase reflects current market conditions the company could not say what percentage the increase reflects from current prices nor could say how much per ton the products sell for currently reuter 
trade	reagan seeks romania trade concession president reagan called for continued nondiscriminatory treatment for romanian exports the united states the face congressional opposition because the bucharest government record human rights white house statement said reagan decision press for continuation called most favored nation mfn status for romania had been exceptionally difficult and came after all options were seriously considered but the statement said that despite concerns about human rights abuses the bucharest government the president had decided that should continued because helped stimulate emigration from romania and gave the united states influence human rights practices there the statement was issued reagan sent congress requests for one year extensions mfn for romania hungary and china the house representatives has attached trade bill legislation that would temporarily deny mfn for romania pending certification reagan that the country had made progress human rights there controversy over continuation mfn for hungary and china reuter 
earn	timberline industries inc timb qtr net oper shr eight cts two cts oper net sales mln note current qtr figures exclude loss from discontinued operations dlrs two cts per share loss dlrs four cts per share reuter 
ship	last minute opposition gulf bill arises house speaker jim wright predicted passage legislation requiring the reagan administration provide congress with report its mideast gulf policy but last minute revolt alliance liberals and conservatives left the bill fate doubt the legislation was written the wake the may iraqi missile attack the frigate stark the gulf which killed americans and president reagan decision protect kuwaiti oil tankers putting them under flags effectively making them american ships since the administration made known its reflagging plans congressional leaders complained they had not been consulted and some charged the policy could lead the united states into the year old war between iran and iraq the house was vote today bill supported the democratic and republican congressional leadership and the administration which demanded report within seven days plans meet the security needs forces the gulf the resolution was expected pass without controversy today the house foreign affairs committee before the full house was take the bill but surprise move liberal democrats and conservative republicans the committee joined unusual alliance oppose the resolution liberal democrats said lack any restrictions the bill implied consent reagan policies reuter 
carcass	ccc accepts bonus poultry iraq usda the commodity credit corporation ccc has accepted bid for export bonus cover the sale tonnes frozen poultry iraq the agriculture department said the poultry for shipment june september and the bonus was dlrs per tone said the bonus award was made conagra poultry and will paid the form commodities from the inventory ccc stocks the purchase completes the export enhancement initiative for frozen poultry iraq announced december reuter 
carcass	ccc accepts bonus poultry egypt usda the commodity credit corporation ccc has accepted bid for two bonus offers cover the sale tonnes frozen poultry egypt the agriculture department said the poultry for shipment november through august and the bonus was dlrs per tonne for the frozen fryer legs the bonuses were made gress foods inc tonnes and serva international ltd tonnes the subsidies will paid the exporters the form commodities from ccc stocks additional tonnes frozen poultry remain available egypt under the export enhancement program initiative announced dec and feb the department said reuter 
copper	phelps dodge sees stronger copper prices phelps dodge corp officials said good fundamentals copper markets should lead improving prices for the metal interview with reuters chairman robert durham said continued strong demand and low inventories pushed prices eight nine pct the new york commodities exchange last month our customers this country are living off the tailgates our trucks said referring tightness supply and strong demand the fundamentals are good asked metal prices will continue rise durham said all know fundamentals cannot ignored said copper supplies are lower than they have been for almost years last year copper demand was second highest record behind said phelps dodge the nation largest copper company with annual production expected reach tons this year during the interview executive vice president douglas yearley said believed was only matter time before the copper price rose because there aren that many new projects coming and demand short major recession will continue grow modestly copper for july delivery rose more than two cts pound more than cents comex trading today one cent pound rise copper prices yields mln dlrs annual earnings for phelps dodge the company said demand has been surprisingly good construction and other areas yearley said new production later this year from bingham utah mine owned kennecott corp unit british petroleum plc standard oil mine new guinea and phelps dodge own expanded morenci ariz mine will offset production shortfalls mexico and zambia said durham said production costs the new mexico located chino mine will line with conventional copper production the company other mines the fourth quarter the company total production costs including depreciation but before interest and corporate expense should below cts pound late said reuter 
lumber	ccc credit guarantees haiti amended the commodity credit corporation ccc has amended its export credit guarantee program line haiti add one mln dlrs guarantees for sales wood products the agriculture department said the action increases the value export credit guarantees for wood products haiti from mln dlrs and the total value export credit guarantees authorized haiti for the current fiscal year for all commodities mln dlrs the department said all sales must registered and exports completed sept noted reuter 
earn	texas american energy corp tae qtr shr cts cts net revs mln mln reuter 
earn	intermetco ltd int six mths april net shr cts cts net revs mln mln reuter 
instal-debt	fed release april consumer credit june the federal reserve board said would release april consumer instalment credit figures friday fixed time was set for the release consumer credit fell seasonally adjusted mln dlrs march after rising billion dlrs february reuter 
acq	professor lifts banc texas btx preferred stake university massachusetts finance professor said raised his stake banc texas group inc shares dlr cumulative preferred stock pct the total from shares pct filing with the securities and exchange commission ben shirley branch also said bought shares class cumulative convertible preferred stock pct the total for dlrs bringing his total investment both preferred series about dlrs branch said bought the stock investment but reserved the right try influence the company reuter 
trade	investment crucial textile recovery with more private investment not more protection the textile industry could become competitive with the most modern foreign producers analysts from two congressional agencies said today the office technology assessment nonpartisan arm congress told house ways and means trade subcommittee hearing there was still concern for the future parts the textile and apparel industry but there was more reason for optimism than few years ago while textile producers are making significant investments they could more ota analyst henry kelly said the congressional budget office cbo the nonpartisan budget analysis arm congress said federal loans loan guarantees would preferable options for congress rather than increased trade protection which could lead foreign retaliation cbo analyst edward gramlich said past trade protections first imposed the have had only small benefit for profits and investments domestic firms trade subcommittee chairman rep sam gibbons said the agencies analyses seemed agree with his opinion against congressional approval protectionist textile quota legislation aimed mainly western europe japan and other asian textile producing countries president reagan last year vetoed textile protection bill but was reintroduced this session congress and expected voted the house this year however approval this year doubt because passage major trade bill without specific protections for textiles showed weakening support for the legislation most producers have fallen behind other foreign producers the use modern textile and apparel production equipment and net imports are growing faster than the domestic markets kelly said added that private investment the textile and clothing industry pct was less than one seventh the average manufacturing investment pct despite existing import quotas and tariffs imports textiles grew pct and imports apparel grew pct while production rose only pct the traditional industry seems destined replaced new technology imports some combination both while the industry may not able compete all domestic markets that enjoyed twenty years ago the results our research indicate that portions the domestic market can recovered and that exports can expanded kelly said reuter 
earn	ione inc six months march net shr two cts net revs note company became public march reuter 
earn	atlas yellowknife six mths loss period ended march shr loss nil profit one net loss profit revs note full name atlas yellowknife resources ltd reuter 
earn	woodward ltd wdsa qtr may loss shr loss cts loss cts net loss loss revs mln mln reuter 
earn	commonwealth mortgage inc ccmc qtr qtr ended april shr cts cts net year shr dlrs cts net assets mln mln reuter 
acq	stockholders won pursue continental cuo bid continental associates group four shareholders who hold about pct continental materials corp stock said will not pursue tender offer for all its shares the shareholders said they were told that continental materials directors had interest selling the company late yesterday continental materials board said decided not give further consideration business combination proposed the group louis businessmen reuter 
reserves	treasury publish reserve assets monthly the treasury department said would release data reserve assets monthly basis from now instead quarterly reserve assets are held gold special drawing rights with the internatinal monetary fund foreign currencies and reserve position the imf assets totaled billion dlrs the end april compared with billion dlrs the end march the treasury said reuter 
coffee	mexico has plans leave ico mexico has intention leaving the international coffee organization ico the event brazil withdrawing from the group the mexican coffee institute imc said the imc said statement the ico important instrument for ensuring producers obtain adequate price mexico currently produces around five mln kilo bags coffee per year brazil said during meeting coffee producers rio janeiro over the weekend that would consider leaving the ico its export quota was reduced the organization reuter 
earn	minntech corp mntx qtr mar net opr shr nil seven cts opr net revs avg shrs year opr shr cts cts opr net revs mln avg shrs note earnings for year exclude gains due tax loss carryforward dlrs cts share and dlrs cts reuter 
ship	house passes gulf bill despite opposition the house representatives approved bill that requires the reagan administration provide congress with report its gulf policy but does not place any restrictions its actions the bill passed winning necessary two thirds those voting despite last minute revolt alliance liberal democrats and conservative republicans who sought defeat signal that growing number legislators oppose president reagan policies the region the legislation was passed the wake the may iraqi missile attack the frigate stark the gulf which killed americans and reagan decision protect kuwaiti oil tankers putting them under flags effectively making them american ships the legislation supported congress democratic and republican leadership well the administration required defense secretary caspar weinberger provide report congress within seven days enactment plans protect warships and flag ships the persian gulf did not however place any restrictions the administration proceeds reflag the kuwaiti ships and thus has immediate effect policy the senate was expected approve the legislation this week the bill would then sent reagan for signature supporters the bill said passage the bill was only first step toward greater congressional involvement formulating policy but democratic critics said the bill did not ask the administration address tough policy questions the report reuter 
crude	colombian group suspends bombings pipelines colombian group announced the suspension its bombings oil pipelines pending the government levy social tax foreign petroleum companies and mln dlrs fine the occidental petroleum corp oxy there was indication the government would meet the conditions demanded the leftist national liberation army eln according the state oil firm ecopetrol the eln carried out attacks petroleum pipelines between and the assaults the most recent launched two months ago have caused estimated total mln dlrs damage communique the eln said would demand tax one dollar per barrel crude oil pumped foreign firms condition for maintaining its suspension the assaults foreign oil firms pump average barrels per day colombia colombian tax authorities are investigating occidental owned firm for alleged tax evasion the charges are proven the firm could face fine mln dlrs the eln demands the government charge the penalty reuter 
acq	investment firms have pct midway mdwy two affiliated investment firms told the securities and exchange commission they have acquired shares midway airlines inc pct the total outstanding common stock the firms boston based fmr corp and fidelity international ltd bermuda based investment advisory firm said they bought the stake acquire equity interest the company pursuit specified investment objectives the firms said they may increase decrease their stake the company but have plans seek control the company representation its board reuter 
acq	wickes wix completes purchase wickes cos inc said has completed the purchase dura corp for undisclosed amount dura supplier automotive equipment had annual sales over mln dlrs reuter 
copper	phelps dodge seeks diversify more from copper phelps dodge corp prepared make another large non copper acquisition and deal could struck the near future chairman robert durham said durham told reuters the company was examining potential candidates but not yet talking with any any acquisition must have different economic cycle copper said phelps dodge the largest copper producer last year paid mln dlrs for columbian chemicals which makes carbon black used rubber and tires the purchase was part strategic plan diversify and then match earnings between copper and non copper operations the company could spend between mln and mln dlrs buy another non copper firm durham said citing mln dlrs cash and mln dlrs untapped bank credit reuter 
acq	ball corp bll completes acquisition ball corp said completed the purchase privately held verac inc san diego defense systems and software development company terms the acquisition were not disclosed verac had sales about mln dlrs verac will operate san diego part ball technical products group reuter 
strategic-metal	strong demand for peru bismuth jan may very strong demand from all markets including recently japan has resulted peru bismuth exports showing impressive increase january may peru state owned mining industry marketing arm minpeco said statement released its london office minpeco said peruvian customs figures for bismuth exports for the first five months were tonnes compared with tonnes the same period and tonnes during the whole minpeco said breakdown the figures showed peru exported tonnes bismuth the during jan may compared with during the whole other recipients were peoples republic china holland ussr and other areas tonnes sales the west germany france and other western and eastern european countries are hidden under the heading holland minpeco sells customers these countries from stocks the company normally holds rotterdam the statement said reuter 
acq	freedom frdm recognize gain unit sale freedom savings and loan association said will record net gain mln dlrs the sale certain assets its freedom mortgage subsidiary chase home mortgage corp subsidiary chase manhattan corp cmb freedom also said had completed the sale the company said about mln dlrs the gain will recnogized the quarter ending june with the remainder derferred and recognized over the remaining life the serviced mortgage porfolio reuter 
carcass	meat industry launches campaign japan the meat industry has launched aggressive promotion campaign japan increase consumer awareness beef and persuade the japanese government relax current beef import quotas beef sales japan currently around mln dlrs annually could increase over two billion dlrs and high six billion dlrs the year japanese quotas were removed and the japanese consumer were made more aware the attributes beef officials the meat export federation said press conference today partially funded with mln dlr award made through the agriculture department targeted export assistance tea program five year meat promotion campaign japan was launched the meat export federation april the promising japanese beef market could one the bright spots for agricultural exports said philip seng asian director for the federation supply and they japan buy very high quality beef they like our beef and want buy more said seng pointed japan beef quota system which limits total japanese beef imports tonnes per year and imports tonnes the major constraint expanding beef shipments japan the quotas were implemented time heavy japanese foreign beef imports the current quota agreement expires next march and beef quota negotiations are set get underway this fall the reagan administration has called for end the quotas april but japanese officials have said they would not liberalize imports regardless the pressure officials from the meat export federation told reuters that they not expect complete lifting the quota but that they hope for least gradual increase the quota high beef prices japan caused the protected market has also kept beef consumption modest levels meat industry officials said japanese shoppers pay average dlrs for tenderloin steak restaurant and average dlrs for japanese produced restaurant steak the meat association said the retail level striploin sells for dlrs per pound while japanese beef sells for dlrs per japanese consumers currently eat less than lbs beef per year compared lbs for the average american officials said total beef consumption japan now tonnes per year but seng said with the removal quotas and decrease beef prices consumption could increase mln tonnes reuter 
earn	comp card international inc cucd qtr shr cts cts net mln mln revs mln mln note net includes seven cts mln dlrs tax loss carryforward reuter 
earn	merchants mchn report qtr loss merchants national corp with billion dlrs assets said will report loss mln dlrs for the second quarter due its decision increase its provision for losses mln dlrs mainly due uncertainties surrounding latin american debt the second quarter last year merchants reported net income mln dlrs cts share result the increased loan loss provision the bank said the allowance for loan losses will increase from pct pct the bank total loans the bank said its expects report estimated net over mln dlrs for reuter 
alum	venezuelan aluminum firm credits the venezuelan state aluminum company venalum negotiating total mln dlr credits from abroad for planned expansion production faciities finance minister manuel azpurua said azpurua spoke reporters after meeting representatives the kreditanstalt fur wiederaufbau kfw bank germany who tommorrow will sign agreement grant mln marks mln dlrs credits venalum the agreement will have eight and one half year term and fixed interest rate pct azpurua said venalum negotiating credits mln dlrs from the swiss bank corporation mln dlrs from mitsubishi japan and mln dlrs from eksportfinans norway this proves are achieving our goal reestablishing the financial flows the country said azpurua the credits would the installation fifth production line venalum one three state aluminum companies which produces primarily for the export market reuter 
ship	house passes mideast gulf bill the house today approved bill requiring the reagan administration report congress its mideast gulf policy but not restricting its actions the vote favor was despite last minute revolt alliance liberal democrats and conservative republicans who sought defeat signal that growing number legislators oppose president reagan policies the region the senate leading republican senator former senate appropriations committee chairman mark hatfield oregon said would try prevent consideration the bill said will put called hold the bill until finds out whether the war powers act applies protecting kuwaiti tankers congressional leaders complain they were not consulted about plans put the flag kuwaiti ships and some charged the policy could lead the into the iran iraq war conservative republicans said increasing the military obligation the gulf would place impossible burdens american servicemen and equipment and warned could lead war real snake pit best and powder keg that will blow sky high worst said wisconsin rep toby roth reuter 
money-fx	near term strength seen for currency futures currency futures are likely move higher following the sharp rally today after president reagan announced that paul volcker would not accept third term federal reserve chairman and that alan greenspan was nominated his replacement currency analysts said contrary predictions before the volcker resignation analysts are calling for higher currency futures prices between now and the june venice economic summit particular uncertainty about greenspan attitude the dollar could undermine sentiment toward the currency analysts said greenspan said today that the dollar appeared nearing bottom but the market will bear mind his remarks chicago last week that the dollar recent move upward was technical reaction and that would trade significantly lower analysts said disappointment european central bankers over the appointment will used opportunity sell the dollar lower said manufacturers hanover futures vice president carol mackoff the international community will not like this appointment suggests the possibility that the budget deficit too much burden monetary policy and that volcker was unable get the commitment sought reduce the deficit added merrill lynch economics analyst david horner furthermore that greenspan was not named two months ago suggests that was not the administration first choice and that the status his appointment was bridesmaid horner said declining dollar scenario with higher currency futures prior and throughout the venice meetings would mitigated only concrete action opposed jawboning the summit said but finance ministers judged recent statements may impasse analysts said japan and west germany today reiterated that neither planned further interest rate cuts despite pressure from the mackoff said the the other hand has not cut its budget deficit japan and west germany have urged she said should members force commitment cut its budget deficit the next two years further decline the dollar could forestalled horner said however the impact from venice will nothing nothing changes horner said smith barney harris upham and analyst craig sloane said european currencies will likely move the higher end their ranges after today sharp advance for the next two weeks sloan calls for september yen futures advance toward the area said september marks could close upside target while swiss francs could climb range between and reuter 
interest	westpac drops new zealand indicator lending rate westpac banking corp wstp said cutting its indicator lending rate pct from pct effective from june westpac said statement various other lending rates are also being revised downwards the westpac move follows base rate drops other new zealand trading banks recently bank new zealand base rate drops pct from june and national bank new zealand ltd rate falls pct from june the australia and new zealand banking group ltd anza rate remains pct reuter 
wpi	korean wholesale prices pct may south korea wholesale price index base rose pct may after pct rise april and was pct higher than may the bank korea said the may consumer price index which has the same base rose pct after pct gain april for year year rise pct wholesale prices rose pct the first five months while consumer prices rose pct bank officials said the rises were due strong yen which made imports japanese parts raw and intermediary materials more expensive reuter 
gas	ess lowers premium petrol pump price esso singapore pte ltd will lower the pump price its premium octane petrol price cents litre from cents effective midnight tonight spokeswoman said the new price similar other oil companies price for the same grade esso price for octane remains unchanged cents reuter 
interest	citibank lowers australian prime rate pct citibank ltd said would lower its australian prime rate pct from effective tomorrow the new rate unmatched other banks will the lowest among australian trading banks other primes range from pct australian prime rates have now retreated from recent peak pct october line with declining money market levels citibank said its reduction reflected the decline reuter 
strategic-metal	china moves stabilise world tungsten prices china moving stabilise world prices tungsten after fluctuating prices this year affected the country export earnings the china daily said the paper quoted industry officials saying they would fix export prices the basis the world market stop smuggling and encourage producers reduce exports current world prices range from dlrs per tonne unit but china suffered heavy losses when the price slumped dlrs earlier this year said some pct world tungsten exports come from china but the country imports high grade tungsten products reuter 
acq	australia ansett take pct america west australia ansett airlines will exercise option acquire pct america west airlines inc awal for about mln dlrs ansett transport industries ltd managing director peter abeles said exercise involving the purchase about three mln new america west shares for dlrs each was scheduled finalised july august said statement abeles said ansett would become the largest single shareholder what said was the fastest growing airline the united states america west based phoenix arizona under the terms the option agreement ansett would have the right maintain its pct position the event future stock sales but could not beyond pct unless requested america west abeles said america west would retain the right first refusal ansett offered any the shares for sale addition ansett would gain one board seat said ansett transport industries wholly owns ansett airlines one australia two major domestic airlines and turn owned abeles international transport group tnt ltd tnta and rupert murdoch news corp ltd ncpa reuter 
ship	japan foreign shipbuilding orders fall may new foreign shipbuilding orders received japanese yards may fell five vessels totalling gross tons from eight ships april against four ships year earlier the japan ship exporters association said the backlog orders end may was ships mln against ships mln end april and ships mln year ago association official said the world shipping recession and the yen appreciation against the dollar depressed may orders said reuter 
trade	shultz predicts rapid narrowing trade gap secretary state george shultz said the would erase its large foreign trade deficit faster than many predicted and the consequences for its trade partners might traumatic the economy will inevitably make the adjustment necessary move from deficit surplus trade balance order service our growing foreign debt told conference attended the six members the association southeast asian nations and their leading western friends view this will happen more rapidly than many observers now predict the universal strategy aggressive export led growth becoming less effective shultz said not arithmetically possible for every country the world net exporter the same time the deficit which all decry has been sense the place into which everyone export led strategy for growth has gone the huge surpluses japan and west germany have fed this deficit something will have give and will possibly traumatic experience added while you must keep the pressure eschew protectionist policies you must act too shultz said can better job convincing the congress leave our door open imports more our trading partners open their doors wider told the group which included representatives from australia canada japan new zealand and the european community reuter 
acq	hong kong dairy farm says bids for pct kwik save for mln stg 
acq	dairy farm bids mln stg for pct kwik save dairy farm international holdings ltd said statement making tender offer for pct kwik save discount group plc kwik britain for total mln stg dairy farm said will offer buy mln kwik save shares stg each the offer will bring dairy farm stake kwik save pct from the present pct mln shares the offer which will begin monday and ends june requires that the shares tendered will bring its stake least pct dairy farm said will finance the acquisition placing mln shares with affiliate jardine strategic holdings ltd jars dlrs each for total mln dlrs the placement will raise jardine strategic stake dairy farm pct from the current pct said the kwik save purchase will also financed with loan from the hongkong and shanghai banking corp hkbh did not give the size the loan but said would raise its net bank borrowings maximum billion dlrs dairy farm said would reduce its bank borrowings the proceeds from the previously announced sale its office building sydney for mln dlrs will consider raising additional capital most probably through placement convertible preference shares the euromarket added company chairman simon keswick said the market offers attractive opportunities for competitively priced food retailers and that strategic investment kwik save offers the best vehicle pursue those opportunities reuter 
earn	mazda motor corp mazt six months ended april parent shr yen div yen same net billion billion current billion billion sales billion billion oustanding shrs mln mln reuter 
earn	berisford lifts first half profit mln stg six months march shr div turnover billion billion interest mln mln pretax profit mln mln tax mln mln minorities mln extraordinary items mln credit mln debit note company name and berisford plc brfd reuter 
money-supply	south african april growth revised upward south african year year broadly defined money supply growth was revised upward pct for april from preliminary pct but was down from revised pct march reserve bank figures show rose revised billion rand april from preliminary billion and march revised billion april last year stood billion rand preliminary figures for may show billion rand for year year rise pct from billion may april rose year year pct billion rand after rising pct billion march while rose pct billion after pct increase billion the figures showed rose pct billion april after rising pct billion march reuter 
interest	commonwealth bank cuts australian split prime the commonwealth bank australia said will lower its reference rate for loans pct from pct and its overdraft reference rate pct from effective june bank officials have said the bank regards the overdraft reference rate based short term rate trends its key prime lending rate corporate customers the loan reference rate based longer term trends the bank the latest cut prime rates recent days following continuing decline market rates other prime rates now range from pct pct reuter 
gnp	korea sees gnp growth more than pct this year south korea gross national product gnp will exceed pct real growth this year and the won will rise further long the current account surplus continues widen deputy prime minister chun yong told reporters chung who also minister economic planning said his gnp estimate was based the assumption that the economy will remain stable the official target for gnp growth eight pct gnp rose pct between the first quarters and according provisional bank korea figures gnp rose pct calendar the first four months this year the current account swung surplus billion dlrs from deficit mln dlrs the same period what the minister said does not imply any major economic policy change ministry spokesman told reuters but tried urge business circles prepare for the forseeable economic future high won era south korean manufacturers who have insisted the won should not rise more than seven pct this year have said they plan ask the government slow down its appreciation against the dollar the bank korea today quoted the won unchanged against the dollar pct gain far this year compared with pct increase for the whole the won strengthened won the dollar three days earlier this month while international monetary fund team held talks here discuss revaluation reuter 
crude	australian crude output falls first nine months australian crude oil and condensate output fell pct megalitres about mln barrels the first nine months fiscal ending june the department resources and energy said the decline production the nine months end march reflected mainly sharp dip early the fiscal year when low oil prices and high marginal excise rates led reduction output from bass strait department figures its major energy statistics publication show megalitre barrels reuter 
earn	british telecom raises profit pct year end march shr pct rise div making turnover billion pct increase operating profit billion pct increase pretax profit billion pct rise fourth quarter turnover billion pct rise operating profit mln pct increase pretax profit mln pct rise reuter 
earn	johnson matthey raise pretax profits pct year march fin div making shr pretax profit mln stg mln net after tax mln mln turnover billion billion extraordinary dbt mln mln note full company name johnson matthey plc reuter 
acq	government sell pct air new zealand the new zealand government will sell pct state owned air new zealand ltd the public civil aviation minister richard prebble said prebble said statement the government would appoint adviser help decide how the shares should sold the timing any sales and the price clearly there will need gauge the effect other proposed share issues enter the market the best opportunity prebble said are particular rush sell our shares air new zealand said our aim maximise the benefit the taxpayer that means waiting for while then prebble said said air new zealand expects release its results soon for the year march said was confident would post excellent profit prebble said air new zealand was successful but its ability prosper future was hampered its wholly government owned status prebble said access new sources capital would increase its ability expand and develop this sale announcement follows the public float march around pct the bank new zealand ltd the government has said will also float part the capital other state owned operations including dfc new zealand ltd formerly development finance corp new zealand ltd and petroleum corp new zealand ltd reuter 
wpi	african producer price inflation rises april south african year year producer price inflation rose pct april against pct march central statistics office figures show the all items index base rose monthly pct april after increasing pct march and standing year earlier reuter 
earn	london international raise profits mln year march final dividend making share pre tax profit mln stg mln net profit mln mln turnover mln mln note london international group plc lonl said that sharply increased sales condoms had led particularly strong start the year and had considerable confidence for the future reuter 
trade	toshiba sharp restrain lap top exports toshiba corp tsba and sharp corp shrp decided maintain exports lap top personal computers the european community last year levels despite the halt shipments the company spokesmen told reuters they said the voluntary restraints were aimed averting sanctions urged european computer makers the europeans feared japanese personal computers would flood markets after washington imposed pct tariffs last april toshiba and sharp together control about pct the personal computer market the the sharp spokesman said toshiba said exports and lap top computers would continue units month for the time being sharp said exports the series lap top personal computers would continue last year level units year washington imposed the tariffs because japan alleged failure uphold agreement semiconductor trade reuter 
interest	belgium cuts treasury certificate rates the belgian national bank said cut one two and three month treasury certificate rates all points effective immediately the cuts take the one month rate pct the two month rate pct and the key three month rate pct the central bank said telex national bank spokesman said the modest cut was made after decline domestic money market rates yesterday and was not expected followed cut the pct discount rate the short term treasury certificate rates and especially the three month rate have been the national bank main monetary policy instrument for the last two years the discount rate has been the market penalty rate rather than guiding rate since and its advances are currently little used liquidity ample bank economists said the bank last cut one three month certificate rates june also points reuter 
crude	indonesia cuts july crude supplies japan indonesia state oil company pertamina has informed its affiliated japanese companies that crude oil supplies will pct less than contractual volumes july spokesman for affiliated company said said the allocations were line with indonesia production ceiling under its current opec quota they might increased opec ratifies production rise next week allocations indonesia main traded crude minas had been cut pct and duri pct said last month contractual volumes were cut pct contractual volumes assume production ceiling oil traders said indonesian grades were already trading above their official selling prices osp the spot market due strong demand from japan and the and tight supplies cargo duri loading july was reportedly traded yesterday cents over its osp dlrs per barrel and minas trading about cents higher they said reuter 
reserves	french official reserves billion francs may billion april official 
reserves	french official reserves rise may french official reserves rose mln francs may billion francs from billion the end april the finance ministry said the slight rise partly reflected the repayment last month france outstanding billion francs debt owed the european monetary cooperation fund fecom also reflected negative mln franc position with france exchange stabilisation fund after intervention purchases billion francs during may foreign currency holdings fell billion francs billion while ecu holdings fell billion francs billion due the repayment part france debt owed the fecom and stabilisation fund operations the ministry said claims the imf rose billion francs billion including mln franc increase france reserve position with the imf and mln franc rise holdings special drawing rights gold holdings were unchanged billion francs reuter 
acq	french state sell offs raise billion francs the french government privatisation program which began late last year has earned the french state about billion francs date the finance ministry said sources close finance minister edouard balladur said the revenues raised from the privatisation program would used priority pay off public debt which stood billion the end the ministry said communique that the returns included banking group societe generale sgen which began its two week public flotation last monday the government has carried out eight flotations well the private sale telephone group cie generale constructions telephoniques cgct since its denationalisation scheme began last december with the sell off glass makers saint gobain sgep added the government has pledged privatise state owned industrial banking and insurance companies other companies sold the private sector the near future are television network later this month and banking group cie financiere suez fspp the autumn the ministry said forthcoming sell off meant that third the government programme would have been completed less than nine months balladur sunday rejected press and opposition charges that the share prices for privatised companies had been pitched too low said that the average premium shares trading the bourse was between and pct over their offer price this compared with premiums between and pct similar share flotations britain reuter 
sugar	fiji makes sugar payment get harvest started fiji sugar farmers will receive interim payment the crop four months ahead schedule move aimed getting harvesting the drought hit crop under way governor general ratu sir penaia ganilau said industry sources said latest forecasts for the crop indicated output tonnes well down the record tonne tel quel production the may december crop year the previous record was set when fiji produced tonnes for the past month fiji sugar farmers have delayed harvesting the crop pending response from the governor general demands following the may coup ganilau said statement the fiji sugar corp would make payment five dlrs per tonne against the final payment for the crop the understanding that preparations growers for commencement harvesting would completed all mills june crushing would commence labasa and penang mills june and lautoka and rarawai mills june said the interim payment made about june the full amount the grower share sugar proceeds received date the balance will paid october growers had also called for the full forecast price dlrs per tonne cane paid cash delivery the mill but this has been rejected the state controlled fiji sugar corp ganilau said however addition the scheduled delivery payment dlrs additional sum dlrs pct the forecast price would paid december all cane harvested november said ganilau said this will least one month advance the expected date payment the second payment cane the balance the second payment will made six weeks after the end crushing another demand fiji small farmers was that estimated mln dlr loan from the fiji development bank fdb for the cane crop rehabilitation programme written off the fdb rejected this request ganilau said however the bank prepared carefully consider requests for rescheduling loan repayments cases hardship case case basis response further demand that all soldiers removed from the cane growing areas ganilau said the army would restrict its presence the cane areas said had directed the authorities issue permits harvesting gangs cane growers and sugar industry trade unions hold the necessary meetings preparation for the commencement harvest senior representatives the sugar cane growers had indicated desire commence the crush soon possible added reuter 
jobs	may adjusted unemployment falls record mln pct official 
income	average earnings rose pct year april underlying rise pct official 
ipi	april industrial output rises pct manufacturing pct official 
money-supply	may adjusted rises provisional pct pct bank england 
interest	may ajusted sterling bank lending billion stg after billion april official 
jobs	unemployment falls below three mln may unemployment fell record provisional seasonally adjusted may total mln pct the workforce the employment department said april seasonally adjusted unemployment fell upwardly revised mln pct said the unadjusted jobless total may including school leavers alos fell record mln pct from april mln pct may was the eleventh successive decline from peak last summer pct the employment department said unemployment has fallen under three mln for the first time over three years the may fall was the largest drop since records were first kept employment minister norman fowler said all regions have seen above average falls long term unemployment during the past year added the last time the adjusted total unemployed was below three mln was july while the unadjusted total was last below this level june reuter 
income	earnings underlying pct april average earnings rose seasonally adjusted pct the year end april after increasing pct annually march the employment department said the april index base was set provisional seasonally adjusted from march but the underlying rise was pct pct from march and back the same level seen late last year the underlying rise adjusted for factors such back pay and timing variations unit wage costs manufacturing industry rose one pct the year april after upward revised rise pct the period march the department employment added the three months end april such costs were pct higher year year compared with rise pct the three months march manufacturing productivity april was pct higher than year ago after downward revised pct increase march the last three months period manufacturing productivity was pct having increased pct the first quarter reuter 
interest	citibank lowers australian prime rate pct citibank ltd said would lower its australian prime rate pct from effective tomorrow the new rate unmatched other banks will the lowest among australian trading banks other primes range from pct australian prime rates have now retreated from recent peak pct october line with declining money market levels citibank said its reduction reflected the decline reuter 
trade	senators propose ban toshiba imports three senators said they will propose temporary ban imports all toshiba products due the company illegal sales sensitive high technology goods the soviet union senator jake garn john heinz and richard selby said hearing the senate banking committee export control they will offer the proposal part major trade bill when brought before the senate this summer garn utah republican said talking about specific retribution company that endangers the security their own country and ours reuter 
sugar	four sugar cargoes sold china yesterday trade four cargoes raw sugar were sold china yesterday via the london trade supplement the country current nearby buying programme traders said the sugar was reported sold around dlrs tonne and for july august shipment arrival september they said some traders said recent chinese purchases could total much tonnes but others while agreeing heavy volume had been taken said amount less than that figure was involved china was still believed the market for more sugar traders said reuter 
earn	james hardie industries ltd haha march ended march shr cents final div cents making net mln dlrs mln turnover billion billion other income mln mln shrs mln mln note div pay aug reg july div unfranked and thus will not tax free under dividend imputation net after tax mln dlrs mln depreciation mln mln interest mln mln and minorities mln mln but before extraordinary profit mln loss mln reuter 
interest	commonwealth bank cuts australian split prime the commonwealth bank australia said will lower its reference rate for loans pct from pct and its overdraft reference rate pct from effective june bank officials have said the bank regards the overdraft reference rate based short term rate trends its key prime lending rate corporate customers the loan reference rate based longer term trends the bank the latest cut prime rates recent days following continuing decline market rates other prime rates now range from pct pct reuter 
veg-oil	dutch parliament backs stand against oils tax dutch parliamentary parties have affirmed their support for the government opposition the proposed european community tax oils and fats parliamentarians said broad cross section members parliament voiced their opposition the tax during debate the lower house yesterday the basis possible retaliation from the and the potentially damaging effect third world countries state secretary for foreign affairs rene van der linden said the government was against the tax although noted deepening financial difficulties difficult against the tax and against extra finance the members have make choice van der linden said however denied the government had dropped its opposition the proposed tax altered its position reuter 
acq	csr declares pioneer sugar bid unconditional csr ltd csra said had declared unconditional its takeover bid for pioneer sugar mills ltd following pioneer recommendation that shareholders accept this meant pioneer shareholders would paid for all shares tendered within days csr said statement csr statement follows industrial equity ltd inea disclosure yesterday that had built pct stake pioneer dlrs share topping csr cash bid csr also offering one share currently worth dlrs plus cash for every two pioneer shares which values pioneer per share holds about pct pioneer reuter 
acq	sandvik diamant boart finalise drills merger sweden sandvik svik and diamant boart belgium which societe generale belgique belb holds indirect pct stake have finalised negotiations merging oil and gas drilling tool activities officials both companies said staffan paues president the new brussels based joint venture company diamant boart stratabit dbs told news conference that the merged firm would able offer products for all types drilling operations said there were already signs that slow recovery from recession was under way the oil and gas industries stability oil prices should lead renewed investment paues said dbs which paues said began operations today brings together sandvik wholly owned subsidiary strata bit corp houston and diamant boart petroleum activities europe north america the middle and far east and africa paues said the merger was direct result the sharp fall oil prices months ago which led oil firms cut back exploration activities officials said the complementary character the two firms operations was further reason reuter 
acq	thomson grand public takes over thorn emi audiovisual division thomson 
acq	thomson takes over thorn emi audiovisual thomson grand public the subsidiary thomson thmp has taken over the audiovisual consumer goods division british group thorn emi thomson grand public chairman pierre garcin said the cost the deal signed late yesterday around mln stg and thomson will finance mln this from its equity thorn emi leader the british audiovisual market with turnover last year mln stg garcin said the new acquisition would substantially increase thomson turnover the sector reuter 
acq	jwt group jwt sues wpp group plc jwt group inc said filed suit against wpp group plc enjoin the company from continuing its tender offer the company said charged that former jwt group unit executive john peters has breached his fiduciary duty disclosing confidential information about the company and its clients the company said the suit filed new york state supreme court seeks halt the ongoing misuse and misappropriation highly confidential and proprietary information concerning jwt and its clients the defendants the suit are wpp group and its units and peters who until january was director walter thompson jwt group main subsidiary and its president and chief operating officer jwt said asked the court enjoin the defendants from acquiring any further jwt stock make them return all confidential and proprietary information and disgorge all profits other gains the company said also asked the court award jwt unspecified damages reuter 
acq	jwt group jwt grants golden parachutes jwt group inc disclosed filing with the securities and exchange commission that awarded called golden parachutes top officers the company said granted the special bonuses which take effect only executive fired within two years successful takeover june granted the officials severance payment just under three times their annual compensation they are fired after takeover for chairman don johnston the payment was limited twice his annual compensation jwt approved additional lump sum payments one year compensation unspecified number other highly paid company officials the company also altered its employee retirement and stock incentive plans assure continued protection and benefits for employees the event hostile takeover the company did not disclose the cost the changes made the severance retirement stock plans reuter 
acq	unilever declines comment gillette bid rumours spokesman for unilever plc declined comment market rumours that may considering bid for the health care group the gillette gillette shares are traded the over the counter market london and this morning stood one dollar higher dlrs response the bid speculation unilever dipped generally depressed market most analysts dismissed the rumours saying was old story and one commented that was utter rubbish adding thought unilever would not interested gillette gillette shares rose sharply the beginning the month wall street rumours that sir james goldsmith was building stake the company gillette has been the subject repeated rumours since ronald perelman chairman the revlon group inc rev made unsuccessful bid for the company last year reuter 
acq	service resources src ends sorg srg bid service resources corp said has withdrawn and terminated its dlr per share takeover offer sorg inc because sorg failed respond the bid said sorg largest single shareholder will evaluate all its options including making further offer sorg disposing some all its sorg shares reuter 
acq	halcyon has stake research cottrell halcyon investments new york firm reported pct stake research cottrell inc alan slifka partner halcyon told reuters the shares were purchased for investment purposes but declined further comment june research cottrell said had entered into definitive agreement acquired acquisitions inc for dlrs per share research cottrell closed today unchanged from the previous close reuter 
earn	cullinet software inc cul qtr earnings april end shr loss cts shr profit cts net loss net profit revs mln mln avg shrs months shr loss cts shr profit cts net loss mln net profit mln revs mln mln avg shrs note both and figures restated reflect april acquisition distribution management systems inc accounted for pooling interests results include first quarter non recurring charge mln dlrs with after tax impact cts per share attributable the write off the remaining assets acquried from computer pictures corp november reuter 
acq	allegis aeg meets with united employees group spokesman for group united airlines employees who oppose the attempted takeover united the airline pilots association said met with the new chairman allegis frank olson william palmer the group spokesman which claims speak for thousands united employees said the meeting with olson was positive and friendly but future meeting dates were set april the pilots union offered buy out united allegis subsidiary through employee stock ownership plan reuter 
interest	nat west cuts mortgage rate for new borrowers national westminster bank plc nwbl announced pct reduction the mortgage interest rate applicable new mortgages taken out from june the new rate pct apr annual percentage rate pct including fees for normal repayment mortgages and pct including fees for endowment and pension mortgages spokesman for nat west said the position for existing mortgages being kept under active review the light market conditions and announcement will made soon possible reuter 
veg-oil	rpt opposition oils tax intact minister minority group european community countries strong enough block the adoption tax vegetable and marine oils and fats still intact after the commission proposed changes its proposals earlier today british agriculture minister john macgregor told journalists said britain west germany the netherlands and denmark continue oppose the tax after the commission proposed making temporary and promising compensation any third countries whose exports suffered reuter 
acq	harcourt brace hbj calls special meeting harcourt brace jovanovich inc said has called special meeting for july for vote increase authorized common shares mln from mln increase preferred shares mln from and provision allowing the payment preferred dividends stock property well cash the company said june will the record date for the meeting harcourt which fighting off takeover bid from british printing and communication corp plc has declared special dividend common stock dlrs cash and pct preferred stock with market value dlrs per share the special dividend paid july reuter 
earn	penwest inc penw qtr may net shr dlrs cts net sales mln mln avg shrs nine mths shr dlrs cts net sales mln mln avg shrs reuter 
coffee	rpt european trade may propose new ico formula european coffee traders and roasters may propose new formula for calculating international coffee organization ico coffee quotas the end their meeting here this week traders and officials told reuters although traders were unwilling reveal details the possible new formula they said would give brazil the world biggest coffee producer unchanged ico quotas for the next two years and could basis for renegotiation the main sticking point quotas has been brazil attitude and this compromise could solution one said however the european coffee trade federation meeting which began here today and continue the end the week has revealed gaps the european position introducing quotas traders said that whole the trade side was against introduction ico quotas while roasters were generally favour with the single proviso that there had some formula basis for allocating quota shares among producing countries the roasters said the positions were generally fairly close and problems with some government officials germany and italy were cited the extremes polarized government attitudes with most other countries the fence sources said germany was the most extreme against quota introduction while the italians were most favour nevertheless expect find enough common ground the end the week least present common european community view the next meeting consumer members the international coffee agreement ica july one trader said hope can present the compromise proposal and that not only the consumer side but the producer side will accept one official said have learned that can live without the quotas that were suspended february last year but would prefer the stability they can bring the market long not simply return the old and outdated status quo far quota allocation concerned added overall however trader and roaster opinion the likelihood successful negotiation was mildly pessimistic varying between chance and against our main difficulty will persuade the the consumer side and brazil the producer side agree quota introduction said the position has anything hardened while the new brazilian coffee institute president has adopted the least negotiable position any his predecessors one trader said however with many producers starting swing favour the consumer position that quotas have allocated under new formula brazil becoming increasingly isolated which gives least some hope compromise the ico quota meeting september the official said reuter 
acq	first data management fdmc completes merger first data management inc said has completed merger into firsst data management holding following sharehoplder approval said each shares will exchanged for dlrs principal amount pct senior subordinated debentures due june reuter 
earn	frost and sullivan inc frsl qtr qtr ends april shr loss cts profit nine cts net loss profit revs nine mths shr profit four cts profit one net profit profit revs reuter 
earn	culp inc culp qtr may two net shr cts cts net sales mln mln year shr dlrs one dlr net sales mln mln note prior year net both periods includes gain dlrs from adjustments lifo reserves compensation related accruals and revised effective tax rate reuter 
jobs	first time jobless claims rose week new applications for unemployment insurance benefits rose seasonally adjusted the week ended june from the prior week the labor department said the number people actually receiving benefits under regular state programs totaled the week ended may the latest period for which that figure was available that was from the previous week reuter 
crude	opec differentials not seen posing major problems some opec states are unhappy about the prices assigned their crude oil but this should not pose great problems when the group reviews its six month old price and output pact vienna next week oil analysts say they said nigeria which holds the opec conference presidency and qatar probably have the biggest grievances about price differentials making some their crudes uncompetitive there has also been speculation japanese traders that opec might want mark prices high sulphur heavy crudes correspond with greater demand and higher fuel oil prices but most experts agree that major overhaul price differentials unlikely avoid giving the market signals dent opec new unity all opec members can make good case for changing differentials said one analyst with major oil company but the end the day the attitude going leave well alone and little nothing likely altered iran libya and saudi arabia are among those who also saw sales problems earlier this year traders say but diminished customer resistance fixed prices and some cases marketing incentives have helped their sales some producers can sell uncompetitively priced crudes means discounts processing deals selling them alongside better priced grades package many opec crudes are seen reasonably priced least for some part the year but many experts say opec should change prices quarterly monthly match seasonal demand for fuel oil rich heavy crudes and gasoline rich lighter grades its last meeting december opec agreed reintroduce fixed prices from february around dlr per barrel reference point official prices had been effectively dropped when members offered discounts attract customers opec also decided limit first half output mln bpd and proposed ceilings mln for the third quarter and mln for the fourth analysts expect will now extend raise slightly the current ceiling for the coming months spot market and netback values for some crudes not mirror official prices but opec will probably keep the dlr target and most make minimal changes differentials analysts say the dlr figure based basket six opec and one non opec crudes opec assigned prices its other key export crudes with dlr gap between the heaviest and lightest extra heavy crudes were among those left out industry estimates vary the proportion opec oil exports actually sold official prices several experts say only one quarter one third the total fact sells official prices with some the rest included processing barter deals sold the form refined products problems with the new structure appeared earlier this year when some producers output fell due customer reluctance pay the new prices nigeria especially found its gasoline rich bonny light crude now opec highest priced grade dlrs barrel was uncompetitive the spot market against britain brent february and march nigeria production shrank below its mln bpd opec quota spot prices have since revived due partly seasonal demand for gasoline and its output has risen some experts feel bonny light still overvalued and say its price should cut between cts one dlr barrel but mehdi varzi chief oil analyst with london kleinwort grieveson securities doubts nigeria will actively push the differentials question vienna would not look good for opec unity nigeria which holds the presidency raised the issue said reuter 
earn	general instrument corp grl qtr may shr cts eight cts net mln mln revs mln mln backlog mln mln reuter 
acq	rooter root rescinds united western pact rooter corp said rescinded recent agreement calling for united western energy corp buy majority rooter stock for four dlrs share the company said has also demanded repayment dlr loan made united western since announcing the agreements rooter said discovered additional information relating united western and the unaffiliated privately held corporation which had guaranteed all united western obligations under the agreements rooter said the agreements were rescinded light this additional information without providing details said talks are progress with united western with regard the repayment terms the loan reuter 
acq	gillette says revlon asked its board consent dlrs per share offer 
acq	liberty financial says agrees acquired equimark for dlrs per share 
earn	price pclb qtr june seven net shr cts cts net mln mln sales mln mln avg shrs mln mln nine mths shr dlrs ctsd net mln mln sales billion billion avg shrs mln mln note twelve and week periods reuter 
earn	medchem products inc mdch qtr net qtr ends may shr cts eight cts net dlrs dlrs revs dlrs dlrs nine mths shr cts cts net dlrs dlrs revs dlrs dlrs reuter 
acq	lomas and nettleton lnf make acquisition lomas and nettleton financial corp said has agreed principle acquire houston discount brokerage firm texas first brokerage services inc for undisclosed terms subject regulatory approvals said completion expected july reuter 
crude	shell canada raises crude oil posting canadian cts bbl 
acq	liberty financial announces merger with equimark liberty financial group inc the parent liberty savings bank said has signed definitive agreement acquired equimark corp eqk the parent equibank for dlrs share liberty the transaction structured merger liberty with duly formed unit equimark the company said liberty shareholders will receive about dlrs per share uopn the merger the company said according the companies the acquisition contingent upon the approval liberty shareholders and the appropriate regulatory authorities liberty said the acquisition its unit liberty savings bank equimark corp will result the bank operating separate wholly owned unit equimark charles cheleden chairman and president liberty financial and liberty savings will continue president and chief executive officer liberty savings headquartered horsham the company said liberty said feels that the price dlrs cash per share attractive and that has advised shearson lehman brothers that the price fair reuter 
acq	gillette gets offer from revlon rev gillette said revlon group made unsolicited request asking the gillette board allow revlon make cash offer for all gillette shares least dlrs per share gillette said consent for the bid required under standstill agreement between revlon and gillette before revlon can make any move gillette stock november revlon made unsolicited offer for gillette shares gillette said subsequently revlon withdrew its offer sold back gillette the shares owned that time and entered into the standstill agreement the gillette board directors has regularly scheduled meeting this afternoon and gillette said anticipates making statement after that meeting reuter 
acq	becor western bcw talks fourth bidder becor western inc said talking with possible fourth bidder for the company the company also said lynch corp lgl has renewed its offer for becor which was withdrawn last week talks with the possible bidder are expected concluded shortly becor said adding its board will evaluate all then existing offers that time the meantime the company said plans today adjourn further its meeting stockholders june that meeting was called act merger agreement calling for buyout bcw acquisitions inc the third identified becor suitor davis mining and manufacturing inc fairfield lynch said its latest proposal calls lynch own pct becor stock and becor holders retain the other pct peviously lynch would have held about pct with becor holders receiving pct and becor management about half lynch said the proposal was changed because believes becor management needs more guidance terms financial structuring reuter 
income	personal income rose pct may spending pct 
income	personal income rose pct may personal income rose pct billion dlrs may seasonally adjusted annual rate billion dlrs the commerce department said the increase followed revised pct rise april the department previously estimated april income rose pct the department also revised the march personal income rise pct from previously reported pct personal consumption expenditures rose pct billion dlrs billion dlrs may after rising pct billion dlrs april the department said the department said both the april and may increases personal income were restrained lower subsidy payments farmers and initial payments newly established retirement fund for federal government employees april wages and salaries increased billion dlrs may after billion dlr rise april while manufacturing payrolls were billion dlrs may after falling billion dlrs april farmers incomes fell billion dlrs may after decreasing billion dlrs april due lower farm subsidy payments the department said reuter 
acq	and berisford wants stay independent and berisford plc brfd which has attracted takeover bids making every possible effort remain independent deputy chairman henry lewis said after the company announced interim results taken specific steps strengthen ourselves for this purpose added referring management changes and corporate strategy concentrating four business sectors berisford aims produced balanced earnings growth from combination commodities property financial services and food its industrial division with assets about mln stg including debt being reviewed and parts may sold reuter 
money-fx	fed seger says foreign exchange markets showing signs stability 
interest	fed seger says thrift industry needs stable interest rates 
money-fx	fed governor seger sees currency stability federal reserve board governor martha seger said there were signs helpful stability foreign exchange markets recent weeks think are beginning see more calm those markets seger told reporters after speech the league savings institutions think very healthy when you can get into period stability she said she said market forces have major influence exchange rates and said she did not know the right value for the dollar against the yen the mark seger told the savings and loan executives that she was concerned about financial markets absorption with exchange rate influences concerned that have gotten nervous about exchange rates seger said she said the fed takes into account additional factors determining monetary policy than the value the dollar against other currencies the economy seger called the latest figures gross national product modest upward revision reuter 
livestock	indonesia turkey eligible for cattle under eep exporters will able sell head dairy cattle indonesia and head turkey under the export enhancement program the agriculture department said the export sales will subsidized with commodities from the inventory the commodity credit corporation ccc the department said indonesia and turkey already have purchased and head dairy cattle respectively under the program details the program and invitation for offers from exporters will issued the near future said reuter 
crude	imperial oil raises crude oil postings canadian cts bbl light sweet now 
crude	phillips raises crude oil posted prices cts bbl effective yesterday wti now dlrs 
acq	usair says dot public counsel backs merger usair group inc said the department transportation office public counsel has urged that expedited non hearing procedures used its proposed acquisition piedmont aviation inc pie the company said that america west airlines inc awal was the only party voicing opposition the acquisition the department transportation had asked parties submit statements june either supporting opposing the acquisition usair said and piedmont again requested expedited approval for the acquisition the company said the office public counsel could find evidence that the acquisition would substantially lessen competition any market reuter 
acq	freedom federal frfe seeks buyer freedom federal savings bank said hired salomon brothers inc solicit offers for the purchase the bank part ongoing review methods enhance shareholder value freedom federal operates retail branch banks and had year end assets about mln dlrs there assurance the bank will receive acceptable offers sold but feel this prudent step take this time the bank said reuter 
acq	arco arc spin off seen mln dlrs atlantic richfield considering spin off pct interest its chemical operations could gain about mln dlrs from the deal industry analysts estimated yesterday arco stock jumped much five points rumors was spinning off the chemical operations based about mln outstanding shares the market its frenzy was valuing the spin off about mln dlrs analysts said atlantic richfield aware the rumors issued statement around mid day that was considering sale only pct the unit leading investors take profits after the announcement the company stock retreated closing today was off was smaller deal than expected and somewhat disappointing said analyst george baker smith barney said rumors the spin off had been around for couple days baker said the unit was very profitable but wasn getting the type exposure atlantic richfield sought and its value was not reflected the company stock price industry analyst richard pzena sanford bernstein said the unit had operating earnings mln dlrs last year and expected earn about mln dlrs this year based multiple times earnings which pzena says chemical companies now sell for the entire unit worth about three billion dlrs putting the pct interest around mln dlrs pzena said thought the company was selling the stake because chemical margins had peaked and speculated the company would use the proceeds pay down debt but added the possibility remained the deal would fall through yesterday arco said the proposal had not yet been presented its board the chemical unit last year had revenues billion dlrs reuter 
crude	shell canada shc raises crude cts canadian shell canada shc whose majority interest owned the royal dutch shell group companies raised the postings light sweet and sour crude oil from edmonton swann hills canadian cts barrel effective today the new price for light sweet crude oil canadian dlrs barrel while the new price for light sweet sour crude canadian dlrs barrel the royal dtuch shell group owns pct shell canada and public shareholders primarily canadian own the remaining pct the company shell canada spokesman said reuter 
crude	union pacific raises crude oil postings cts bbl effective yesterday wti dlrs 
crude	imperial oil imo raises crude canadian cts canadian imperial oil pct exxon owned said raised its posting for light sweet crude oil edmonton canadian cts barrel effective today the company said its new posting for light sweet crude oil edmonton canadian dlrs barrel reuter 
earn	tultex corp ttx qtr may net shr cts cts net revs mln mln avg shrs mln mln six mths shr cts cts net revs mln mln avg shrs mln mln reuter 
veg-oil	dutch consumers industry see veg oils tax threat dutch consumers and food processors would hit hard the proposed tax oils and fats dick bruyn chairman the commodity board for margarine fats and oils mvo said the annual meeting the dutch are the second largest consumers margarine and fourth largest consumers vegetable oils the the fiercely contested tax would levy consumers and steeply increase the costs industries such potato processing and cake and biscuit manufacturing bruyn said move these industries countries outside the cannot ruled out added bruyn said the tax vegetable and marine oils and fats would wide open fraud difficult police and hugely expensive administratively also said the proposed tax contravened not only article three the general agreement tariffs and trade gatt the lome convention and the united nations food and agriculture organization fao guidelines but also the own treaty the proposed tax would not only inflationary but also have consequences for employment and investment added reuter 
crude	diamond shamrock raises crude oil posted prices cts bbl effective yesterday wti dlrs 
earn	poco petroleums ltd poc qtr net period ended april shr not given net revs mln mln six mths shr cts cts net revs mln mln reuter 
crude	coastal raises crude oil postings cts bbl yesterday wti dlrs 
crude	southland corp raised crude oil postings cts bbl wti now dlrs bbl 
crude	murphy raises crude oil postings cts bbl yesterday wti dlrs 
crude	permian raises crude oil postings cts bbl wti dlrs 
earn	robert bruce industries bruca qtr loss qtr ends march shr loss dlrs loss cts net loss dlrs loss dlrs revs mln mln avg shrs note full name company robert bruce industries inc reuter 
earn	evergood products corp evgd year loss oper shr loss cts loss cts oper net loss dlrs loss dlrs revs mln mln reuter 
earn	calstar inc csar year april net shr primary cts dlrs shr diluted cts cts net revs mln mln avg shrs primary avg shrs diluted note latest net includes tax credits dlrs dlrs reuter 
earn	microdyne corp mcdy qtr may three net oper shr nil profit one oper net profit profit revs six mths oper shr loss nine cts profit seven cts oper net loss profit dlrs revs dlrs mln note qtr and six mths excludes loss dlrs and dlrs respectively for loss from discontinued operations reuter 
earn	major video corp majv year april net shr cts cts net revs mln note latest year includes three cent per share loss from discontinued operations while prev year includes seven cent per share tax credit reuter 
crude	southland slc unit raises crude cts bbl southland corp subsidiary citgo petroleum said raised its posted prices for crude oil across the board cts barrel effective june citgo said its new posting for west texas intermediate and west texas sour dlrs barrel light louisiana sweet now posted the company said reuter 
acq	hollinger hlg completes unimedia takeover hollinger inc said completed the previously reported acquisition privately held unimedia inc the owner three french language daily newspapers and four printing plants ontario and quebec the company which owns pct daily telegraph plc said named former carling keefe ltd chief executive pierre des marais chief executive societe media quebec the unit acquiring unimedia said his appointment effective july reuter 
earn	edwards inc age qtr may net shr cts cts net revs mln mln avg shrs reuter 
crude	murphy oil mur raises crude postings murphy oil said increased its crude oil posted prices cts barrel effective june the company said its new posting for west texas intermediate and west texas sour dlrs barrel light louisiana sweet crude now dollars barrel the company said increases follow general trend the industry started yesterday sun reuter 
crude	phillips petroleum raises crude postings phillips petroleum said raised its crude oil posted prices for west texas intermediate and west texas sour cts barrel effective june the company said the new posted price for wti and wts dlrs barrel the increase reaction sun raising postings similarly yesterday reuter 
nat-gas	mobil mob has north sea natural gas find mobil corp said the wildcat well block the british north sea flowed mln cubic feet natural gas per day from depths feet the company said has pct interest and other interest holders include atlantic richfield arc sun sun and deminex pct reuter 
crude	petro canada raises crude postings cts canadian bbl sweet crude dlrs canadian bbl 
veg-oil	commission defends oils and fats tax spokesman for the european community commission defended the controversial plan for levy oils and fats saying that consumers would have help alleviate the surplus problem paying the proposed tax norbert tanghe head division the commission directorate general for agriculture told the antwerp oils and fats contact days the commission firmly believes that the sacrifices which would undergone community producers the oils and fats sector would justify asking consumers make appropriate contribution solving the serious problem within that sector paying levy the proposed tax necessary because the level budgetary costs resulting from olive oil and oilseeds production has become unacceptable tanghe said recent estimates put these costs billion european currency units and they would rise another billion ecus said the community standstill agreements with spain and portugal end and the would then feel the full impact its enlargement the commission has proposed several cost and production cutting measures which include the introduction maximum guaranteed quantity system added under the commission system for stabilising consumer prices the oils and fats sector reference price ecus per tonne for refined soy oil would introduced tanghe said consumer prices could raised lowered regulatory amount when market prices are below above this level said the revenue generated charging regulatory amount would used finance the common agricultural policy oils and fats regime the commission believes that hostile reactions the proposed tax have for the most part been based incomplete insufficiently thorough analysis the proposal said tanghe said the proposed system conforms with general agreement tariffs and trade gatt rules would not discriminatory because would applied domestic and imported products and past experience showed would not cause any decline consumption oils and fats produced oilseeds would not benefit more than they under present aid arrangements said the competitiveness between different oils whether produced imported would remain unchanged and quantities imported from third countries would not affected the tax tanghe said the proposed system would not alter the nations requirements far imports are concerned since the overall effect would stabilise community production levels without affecting demand said one the proposal objectives maintain current import levels said imports soybeans would unaffected because they are imported primarily satisfy the cakes and meals requirements which are not covered the stabilising system furthermore more than half the oil produced from imported beans exported third countries tanghe added reuter 
crude	union pacific unp raises crude oil prices union pacific resources formerly champlin petroleum said raised posted prices for crude oil cts barrel effective yesterday the price increase brings west texas intermediate the benchmark grade dlrs barrel the posted price increase follows similar move several other oil companies sun was the first raise crude oil postings yesterday afternoon and today many other companies are following the last price increase made oil companies was around may reuter 
crude	marathon raises crude oil postings cts bbl wti now dlrs 
reserves	italian net official reserves fall may italy net official reserves fell billion lire may from previously reported billion april the bank italy said gold holdings totalled billion lire end may unchanged from end april convertible currencies totalled billion lire may down from billion april while european currency unit holdings were billion against billion reuter 
acq	becor western bcw again adjourns holder meeting becor western inc said its reconvened shareholders meeting has been adjourned cdt june the company had previously announced plans again adjourn the meeting following receipt renewed offer from lynch corp lgl yesterday the meeting was originally convened june four when shareholders approved the sale becor western gear corp subsidiary before adjourning the remaining matter presented the proposed acquisition becor bcw acquisition inc now one four offers for the company reuter 
iron-steel	steel firms study usx unit price hike two major steel companies said they were studying price increase announced yesterday usx corp uss steelmaking division spokesman for armco inc and bethlehem steel corp said the proposed price hike was under study yesterday uss said plans raise base prices plate products dlrs ton about five pct effective with shipments october spokesman for ltv steel unit ltv corp qltv declined comment adding that the company does not make heavy plate and makes few other plate products spokesman for national steel corp joint venture national intergroup inc nii and nippon kokan said the company not the product lines affected reached later inland steel industries inc iad spokesman said the company was studying the pricing move usx said the increase will all plate products including carbon high strength low alloy strip mill and alloy plates also said planned dlr ton increases some special plate widths and thicknesses analysts have said firm prices for steel should contribute better results the nation major steelmakers reuter 
crude	coastal cgp crude posting cts bbl coastal corp cgp said raised the postings crude oil cts barrel across the board effective yesterday june the new price for west texas intermediate dlrs barrel for west texas sour the new price dlrs barrel reuter 
crude	national intergroup nii unit raises crude prices permian corp subsidiary national intergroup said raised its crude oil postings cts barrel effective june the company said its new posted price for west texas intermediate and west texas sour dlrs barrel while light louisiana sweet now the price hike follows other increases industrywide reuter 
iron-steel	steel firms study usx unit price hike two major steel companies said they were studying price increase announced yesterday usx corp uss steelmaking division spokesman for armco inc and bethlehem steel corp said the proposed price hike was under study yesterday uss said plans raise base prices plate products dlrs short ton about five pct effective with shipments october spokesman for ltv steel unit ltv corp declined comment adding that the company does not make heavy plate and makes few other plate products reuter 
earn	standard commercial stob qtr net qtr ended march shr cts cts net revs mln mln year shr dlrs dlrs net mln mln revs mln mln note full name standard commercial tobacco latest qtr and year includes tax loss carryforwards dlrs and dlrs respectively and loss dlrs for discontinued operation prev qtr and year includes tax loss carryforwards dlrs and dlrs respectively reuter 
crude	petro canada crude cts canadian bbl petro canada state owned oil company raised the posting prices sweet and sour crude oils cts canadian per barrel effective today the company said the change brings the price light sweet crude dlrs canadian per barrel and the price light sour crude dlrs canadian barrel the crude oils are from edmonton swann hills reuter 
crude	court rules against rtz oil field costs the high court dismissed appeal rio tinto zinc corp plc rtzl rtz oil and gas ltd unit and ruled that the financial provisions company makes for the future cost abandoning oil field are not tax deductible the press association reported the company was appealing against decision the tax commissioners that any such provision was capital expenditure not revenue expenditure and was not deductible the court was told that since the company had made annual provision around stg for the eventual cost abandoning rig rtz spokesman said the ruling was not worrying the subsidiary had assumed that the provisions were not deductible from corporation tax payable would have been bonus the company had won but all budgeting had been the assumption that would not said oil analysts said that rtz assumption liability was shared the industry whole the ruling appeared mean that tax relief the expensive process abandoning rigs would apply when the expense occurred not when provisions for future expenses were built into the accounts one analyst added reuter 
acq	southmark acquires berg ventures southmark corp said acquired berg ventures inc which manages apartment complexes with over units and shopping centers stretching from new jersey florida that are controlled affiliated with berg harmon associates terms were not disclosed southmark said the acquisition makes the nation largest apartment management firm with over units under its wing southmark also said has become the managing partner berg harmon associates over berg harmon limited partners have made capital investments over mln dlrs the properties now managed southmark reuter 
earn	klm net profit declines year amsterdam june year ended march net profit mln guilders mln profit per guilder nominal ordinary share guilders unchanged mln shares operating revenues billion guilders billion profit sale fixed assets mln guilders mln dividend eight pct guilders per ordinary share same and five pct same for priority and preferential shares costs including depreciation billion guilders billion financial charges mln mln profit from participations mln mln extraordinary gain one mln nil note the company was not required pay corporation tax the book year thanks fiscal compensation possibilities the full company name koninklijke luctvaart maatschappij klm klm released provisional figures may these were net profit mln guilders mln operating revenues billion guilders billion reuter 
nat-gas	pan alberta united gas settlement approved pan alberta gas ltd said its proposed settlement with united gas pipe line houston received unconditional approval the federal energy regulator commission pan alberta said the approved deal authorized terms two year interim contract amendment cash payments and transportation credits for pan alberta customers minimum yearly natural gas takes united and two year commodity price united will pay pan alberta producers about mln dlrs over the interim period and take least average mln cubic feet day gas pan alberta said reuter 
acq	may won buy allied dey brothers stores may department stores said terminated agreement with allied stores corp buy from allied the four dey brothers stores syracuse may and allied said conditions necessary for the closing were not met may had planned make the acquisition expansion its sibley department store which operates syracuse rochester and buffalo reuter 
crude	unocal raised crude oil postings cts bbl wti now dlrs bbl 
crude	unocal ucl raised crude oil postings cts bbl unocal said raised its postings for crude oil cts barrel effective june the company said now posting west texas intermediate and west texas sour dlrs barrel unocal said its new light louisiana sweet posted price dlrs barrel the price move follows wave increases initiated sun yesterday reuter 
pet-chem	reichhold rci raises waferboard resin prices reichhold chemicals inc said its reichhold ltd subsidiary has raised prices seven cent per pound powdered phenolic waferboard resins effective july due sharp increases the cost phenol reuter 
crude	diamond shamrock drm raises crude postings diamond shamrock and said raised its crude oil contract prices cts barrel effective june the company said its new posting for west texas intermediate crude dlrs barrel the price increase follows similar moves several other companies reuter 
acq	xerox xrx affiliate sell african unit xerox corp affiliate rank xerox ltd said signed definitive agreement sell its rank xerox south africa pty ltd affiliate altron group alrn for undisclosed terms xerox said the preliminary agreement sell the affiliate fintech altron unit had been reached march xerox said completion the sale awaits approval fintech shareholders and review the johannesburg stock exchange rank xerox south africa was founded wholly owned unit rank xerox the xerox affiliate that manufactures and markets xerox products the eastern hemisphere rank xerox said that the man workforce rank xerox south africa pct are black colored asian the company will become wholly owned unit altron reuter 
earn	monolithic memories inc mmic qtr net qtr ended june shr six cts cts net sales mln mln nine mths shr cts cts net sales mln mln reuter 
crude	dupont unit raises crude oil postings cts bbl effective yesterday 
earn	applied solar energy corp solr qtr net qtr ended may oper shr profit three cts loss five cts oper net profit dlrs loss revs six mths oper shr profit ten cts loss cts oper net profit loss revs mln note oper data does not include extraordinary gain dlrs one per shr qtr dlrs four cts per shr six mths reuter 
earn	convergent solutions inc csol qtr net march end shr profit cts loss two cts net profit loss sales avg shrs half shr profit cts profit nil net profit profit sales avg shrs note prior half net includes dlr tax credit reuter 
earn	barricini foods inc qtr loss shr loss three cts loss three cts net loss loss sales avg shrs reuter 
trade	european community criticises trade measures the european community accused the united states violating political commitment free trade through practices including tax imported gasoline and customs user fee ambassador tran van thinh made the formal charge the surveillance body the general agreement tariffs and trade gatt gatt spokesman david woods told reporters woods also said the was joined the united states criticising brazil for extending its list products for which import licenses have been temporarily suspended improve its balance payments the united states charged japan with violating gatt rules restricting imports agricultural products through import licensing system the united states asked for consultations with tokyo the issue tran charged that the trade measures contravened political commitment halt and reverse trade barriers pledged ministers punta del este last september when ministers established the four year uruguay round negotiate freer trade areas they set the gatt surveillance body monitor this commitment known gatt jargon standstill and rollback tran criticised washington for the superfund tax oil imports customs user fee and the removal special machine tool known category fsc from its government procurement list for reasons national security warren lavorel trade official defended the policies saying they did not violate gatt trade rules the surveillance body will send record today talks the trade negotiating committee which oversees the round decide any further action the charges the oil tax and customs user fee have already been the subject formal gatt dispute panels set outside the uruguay round rule the legality the practices the ruling gatt council yesterday adopted dispute panel report and ruled that the superfund tax oil imports breached trade rules called washington modify its legislation mexico and canada along with the european community brought the dispute the gatt last year reuter 
crude	dupont unit raises crude oil postings conoco inc subsidiary dupont denemours said raised the contract price will pay for all grades crude oil cts barrel effective yesterday the increase brings conoco posted price for west texas intermediate dlrs barrel the west texas sour grade api now stands dlrs barrel light louisiana was also raised cts dlrs barrel conoco last changed its crude postings may reuter 
acq	allegheny international sells three units allegheny international inc said has sold its chemetron railway products inc true temper railway appliances inc and allegheny axle units newly formed chemetron railway products inc for undisclosed terms said the new company was formed senior management the three railway product units and kleinwort benson group london reuter 
copper	zambian copper industry hopes for steady output zambia copper mining industry hoping achieve and maintain production over tonnes year the next few years despite low world prices deteriorating ores and shortages mine inputs industry officials said but zambia decision abandon last may tough international monetary fund imf economic recovery program has introduced element uncertainty into plans restructure the ailing industry and boost profitability they said copper production the government controlled zambia consolidated copper mines zccm for the financial year ended march improved slightly about tonnes from record low tonnes are convinced that the end the financial year copper production could well over tonnes due greater availability spares and equipment zccm official said zccm officials said the production cobalt another strategic income earner will also tailored meet demand finished production was tonnes tonnes higher than the previous year and the best production achieved date protracted low world metal prices have badly hit the copper industry zambia the world fifth biggest producer mining monopolised zccm and accounts for about pct the country foreign exchange earnings production has also been seriously affected recent years equipment breakdowns deteriorating ore and shortages spare parts fuel and lubricants the tonnes output last year compared with peak output tonnes five year production and investment plan launched zccm being funded the european community the african development bank and the world bank the plan foresees the shutdown some seven mining and metallurgical units the grounds they are unprofitable zccm the second largest employer after the government has said intends lay off its workforce part the plan more than mln dlrs have far been channelled into the industry bid improve efficiency and profitability under the five year restructuring plan company officials said although reserves were being depleted zambia could continue produce copper beyond the end the century though lower levels production industry sources said zccm projected pre tax profit for the financial year ended march would around mln kwacha but with the current mineral export tax level being levied net loss likely registered zccm recorded net loss mln kwacha compared with net profit mln kwacha the year before under the foreign exchange auction system introduced zccm profits from its foreign exchange earnings rose the value the kwacha fell the dollar from just over two the dollar but may president kenneth kaunda abolished the auctioning system inspired the international monetary fund and announced zambia would pursue alone economic strategy based national resources zccm officials are still cautious over what effects the break with the imf will have the industry plans are still consulting see how the new measures will affect but too early say just how shall fare under the new situation peter hansen director operations and third the zccm hierarchy told reuters some analysts believe the new officially fixed exchange rate eight kwacha the dollar will hit zccm export profits most specialists have talked tell the break even point for zccm rate kwacha per dollar frederick chiluba leader the zambian congress trade unions said high production costs continue bedevil the zambian industry zambia mines copper relatively expensive rate cents per pound compared with cents the united states and under cents chile the industry also faces transport problems due zambia being landlocked the government confirmed this year had stopped sbending copper south through south africa over pct shipments some tonnes month are sent rail the tanzanian port dar salaam while tonnes via zimbabwe the mozambique port beira transport has often been hit shortages wagons spares and fuel reuter 
ship	rio janeiro dockers strike over wages rio janeiro dockworkers went strike for indefinite period today demand wage increases spokesman for the dockers said the rio dockers did not get support from their colleagues santos brazil main port but the spokesman said they would not return work unless their demands were met earlier this week some dockworkers cancelled scheduled national strike pressure port officials give them wage increase and other benefits rio port spokesman said the halt would cause daily losses about dlrs reuter 
pet-chem	fluor flr wins general electric contract fluor corp said won contract with general electric design construct and deliver modules for methyl chloride process addition the value the contract was not disclosed fluor said its applied engineering unit will construct modular sections and deliver them waterford silicone products division plant methyl chloride integral part silicone production reuter 
acq	gencorp said agreement sell rko pictures terminated 
fuel	tanzania raises fuel prices taxes budget the tanzanian government its second annual budget since embarking economic recovery program inspired the international monetary fund announced increases fuel prices and sales tax and higher levies government services finance minister cleopa msuya said the government expected spend billion shillings the financial year pct more than this year estimate revenue would provide billion shillings leaving deficit billion financed through domestic and foreign loans this year budget initially projected deficit only billion shillings but mid year the government had impose new taxes keep the deficit roughly target figure for the final deficit was avaialble the budget gave civil servants pct pay rise with effect from july compensate for inflation more than pct msuya said regular petrol would pct with similar increases the cost premium and kerosene diesel would rise pct the higher levies affect official transactions such road tolls vehicle transfers and various licence fees added reuter 
acq	leaseway transportation ltc completes unit sale leaseway transportation corp said has completed the previously announced sale its leaseway puerto rico inc subsidiary caguas central federal savings bank for undisclosed terms the company said the sale satisfied condition for its proposed acquisition investor group led citicorp cci reuter 
coffee	ibc details plans pay creditors the brazilian coffee institute ibc gave details its plans pay the companies that bought bags robusta coffee the london market its behalf last september ibc spokesman told reuters that mln dlr loan from the banco brasil would used pay five mln dlrs month june july and august creditors said auction coffee would raise additional money and added that reuter report june gave the wrong impression that the auction was necessary raise part the mln dlrs date has yet been set for the auction reuter 
acq	magellan sets merger with balzac investments magellan corp said its shareholders approved the merger magellan with balzec investments inc privately held company based dallas magellan company without operations that was formed acquire operating entity said plans engage the development and marketing battery charger product owned balzac magellan did not disclose the terms the agreement following the merger balzac shareholders will hold pct the outstanding stock magellan the company said magellan said will the surviving corporation following the merger the companies said they expect the merger will occur after the declaration effectiveness amendment magellan registration statement relating its common stock purchase warrants and the underlying shares reuter 
acq	gencorp says rko unit sale terminated gencorp said its agreement sell its rko pictures subsidiary management group has been terminated because the group could not raise the necessary financing the company said will again seek buyers for the unit and its library over films reuter 
ship	rio janeiro dockers strike rio janeiro dockworkers went strike for indefinite period today demand wage increases spokesman for the dockers said the rio dockers did not get support from their colleagues santos brazil main port but the spokesman said they would not return work unless their demands were met earlier this week some dockworkers cancelled scheduled national strike pressure port officials give them wage increase and other benefits rio port spokesman said the halt would cause daily losses about dlrs reuter 
trade	said unfairly protecting defense industry britain defence minister george younger said the was unfairly protecting its defence industry and this could lead british firms demanding counter measures younger told chamber commerce meeting that legislators were failing realise the true nature the two way street terms ideas technology and equipment british parliamentary report said that march british firms had been awarded just mln dlrs worth contracts for the strategic defence initiative compared with the billion dlrs britain had hoped secure the committee said technology export restrictions and selectiveness towards foreign contractors had denied british competitors more lucrative orders and largely excluded them from technological research for sdi younger said london had given companies contracts under conditions fair and open competition all ask for our companies given similar opportunities added new american legislation aimed curbing unfair subsidies was used exclude foreign suppliers would not surprising british firms pressed for retaliatory measures younger said reuter 
earn	godfrey gdfy qtr may net shr cts cts net sales mln mln reuter 
strategic-metal	pinnacle west capital pnw buys mineral rights pinnacle west capital corp said its malapai resources units bought the mineral rights for uranium mining about acres northern wyoming from westinghouns electric corp the property adjacent acre site the company already owns both facilities are expected full operation the early with annual production one two mln lbs uranium concentrates the company said the new site expected produce about lbs uranium its first full year production the adjacent property expected begin reuter 
cotton	west texas cotton crop unscathed storm the west texas cotton crop was largely unscathed isolated thunderstorm that region last night that packed hurricane force winds crop and weather experts said there might have been some isolated storms but certainly nothing damaging said charles stichler extension agronomist with the agricultural extension service far west texas rumors damaging storm west texas helped the new york cotton futures market rally sharply this morning cotton for december delivery was cents higher cents midsession after peaking this morning cents what happened that the storm hit lubbock airport and when that happens everybody sees said dale mohler senior meteorologist with accu weather inc lubbock the heart the west texas cotton region which produces about pct that state crop the storm produced winds about mph that hurricane force but they were isolated just small portion the west texas area probably less than five pct mohler said doubt there was some damage but had hit july august when fruiting would underway would have been worse mohler said about pct the west texas cotton crop has been planted and the remainder could done the weekend weather remains hot and dry stichler said the temperature west texas since mid week has been about degrees but hot spell was sorely needed after far heavier than normal rainfall for several weeks said reuter 
earn	rochester community savings bank rcsb second quarter ended may shr cts net mln six mths shr cts net note year ago per shr figures not available bank converted stock ownership april quarter and six mth net excludes dlrs cts share and dlrs cts share respectively for tax carryforwards qtr and six mth net excludes dlrs and dlrs respectively for tax carryforwards reuter 
acq	pennwalt psm make acquisition pennwalt corp said has agreed principle acquire line fungicides insecticides and herbicidesand related manufacturing facilities from raffineries soufre reunies marseilles for undisclosed terms subject approval bothe boards and government authorities the company said the acquired products are sold mostly france for use grapevines wheat and sugar beets and sales are about mln dlrs annually reuter 
platinum	african union objects planned matthey move south african trade union dispute with subsidiary britain johnson matthey plc over the company proposal move platinum refinery near johannesburg black tribal homeland the member mainly black chemical workers industrial union said fears the planned move the bophuthatswana homeland where south african unions are not recognised could lead job losses and affect wages mass dismissal last year the impala platinum holdings ltd ipla mines the tribal homeland sent world platinum prices rocketing the union said talks with management over the proposed move had broken down said earlier ballot refinery workers showed that most favoured striking over the move but added that final decision had been taken strike action the refinery processes all platinum metals rustenburg platinum holdings ltd the world largest platinum producer owned matthey rustenburg ltd joint subsidiary johnson matthey and rustenburg which turn owned mining group johannesburg consolidated investment ltd reuter 
acq	leader development ldco merger approved leader development corp said shareholders the annual meeting approved the acquisition privately held clinton american corp and two related partnerships for common shares with the transaction accounted for pooling interests the company said clinton president daniel ryan will become president leader reuter 
acq	crane acquires assets marley unit crane said acquired certain assets chicago heater inc wholly owned subsidiary the marley the terms the transaction were not disclosed chicago heater will intergrated with crane cochrane environment systems division the company said reuter 
fuel	tanzania raises fuel prices taxes budget the tanzanian government its second annual budget since embarking economic recovery program inspired the international monetary fund announced increases fuel prices and sales tax and higher levies government services finance minister cleopa msuya said regular petrol would pct with similar increases the cost premium and kerosene diesel would rise pct msuya said the government expected spend billion shillings the financial year pct more than this year estimate revenue would provide billion shillings leaving deficit billion financed through domestic and foreign loans reuter 
interest	canada bank rate rises pct canada bank rate rose marginally pct from pct last week bank canada said the bank rate set one quarter percentage point above the average yield the weekly issue day treasury bills this week yield was pct compared with the previous week pct tenders were accepted for billion dlrs day bills average price dlrs against dlrs last week the billion dlrs day bills were priced average dlrs against dlrs last week yield average pct against pct last week the mln dlrs day bills were priced average dlrs against dlrs last week yield average pct against pct last week tenders will received next week for billion dlrs day bills billion dlrs day bills and mln dlrs day bills reuter 
acq	pengo pgo sell some wireline operations pengo industries inc said has agreed sell its wireline products manufacturing division fort worth texas wireline services division operations several locations and pengo international inc subsidiary john wood group plc for undisclosed terms the company said the wireline services operations being sold are lafayette houma and harvey alvin odessa and longview texas and moore okla pengo said its kuykenball slickline operation moore and surplus wireline equipment operations fort worth and cleburne texas will sold separately reuter 
acq	magic years kids acquire three centers magic years child care and learning centers inc said signed letter intent acquire three profitable day care centers south central pennsylvania for total price dlrs the three privately owned centers had aggregate revenues dlrs with profits six thousand dlrs the company said the transaction scheduled close early july the company said reuter 
nat-gas	brooklyn union seen hurt pipeline closure brooklyn union gas new york gas utility will see its gas costs sharply result transco energy decision close its pipelines transport spot gas sales energy industry analysts said brooklyn union the fourth largest gas utility the united states purchased pct its supplies the spot non contract market and the proportion spot supplies was estimated much higher the five months analysts said texas eastern pipelines tet the other competing pipeline deliver spot gas from producing areas the south closed its gate station for summer and brooklyn union has relied entirely transco for spot supplies the month may brooklyn union paid about two dlrs per mln british thermal unit for spot gas while contract gas costs four five dlrs per mln btu industry sources said transco announced yesterday would longer provide open access transport spot natural gas its customers for fear accumulating more take pay liabilities take pay contracts oblige pipelines pay producers for gas even delivery not taken its customers brooklyn union will continue receiving small amount supplies from minor fields under grandfather clause brooklyn union official said foster corwith gas analyst with dean witter reynolds said most the rising cost booklyn union will passed through rate payers while net effect the company will not known for several months because the time lag deferred earnings end users especially residential and commercial customers will end paying more for gas said because the closure takes place summer months when gas demand seasonal low the impact cash flow would small curt launer natural gas analyst with donaldson lufkin jenrette said the situation persists into winter heating season high cost gas could cut the company profits said gas utilities along eastern seaboard relying transco for spot gas such north carolina natural gas ncng piedmont natural gas pny will face the same high cost factor brooklyn union steve richards supply manager with end users supply system houston based natural gas brokering firm said but these companies are not unwitting victims the take pay dispute between transco and producers said distributors have turned deaf ear transco request for inventory charge which reserves the pipeline facility for spot gas delivered these companies said without spot supplies the high cost system gas will threaten drive away large customers capable shifting alternative fuels said absence any guidelines inventory charges from the federal energy regulatory commission the matter being negotiated between pipelines and customers richards said now that transco has refused transport cheap spot gas for them these distributors are likely more conciliatory the inventory charge said cool heads will prevail dlj launer said but may take while reuter 
alum	reynolds metals rlm restart idle potline reynolds metals said plans restart the last idle potuction line its troutdale ore primary aluminum plant with the restart this metric tonne per year line reynolds said will operating pct its consolidated primary aluminum capacity tonnes per year reynolds said work will commence the potline restart the near future and expected that actual metal production will begin september one the company said the start was necessitated continuing strong demand for aluminum and dwindling worldwide inventories and that the metal needed supply reynolds various fabricating businesses reuter 
acq	cbc bancorp acquired union planters cbc bancorp inc said will acquired the memphis based union planters corp upcm merger agreement details were not disclosed cbc which the holding company which owns cookeville citizens bank said has signed agreement which would merge cbc with union which has billion dlrs assets according cbc union reported shareholders equity nearly mln dlrs for the period ending march cbc said the merger will not affect citizens banks name management board directors employees reuter 
acq	tie communications tie renews agreements tie communications inc said has renewed agreements sell its gte corp gte bell atlantic corp bel nynex corp nyn and west inc usw for two years the company providing small mid siezed key telephone systems gte and key systems hybrids and data star pabx systems the others reuter 
tin	itc contests use documents court evidence the international tin council itc intervened high court hearing attempt prevent the presentation internal council documents evidence the intervention shearson lehman action against the london metal exchange over its ring out tin contracts likely have implications for other cases which the council involved following the collapse its buffer stock operations october itc delegates said the itc case being presented professor rosalyn higgins and expected take further one two days next week court does not sit tomorrow essence the council claiming that its status similar that foreign embassy and that its archives can therefore not used english court law the council ended its quarterly session today ahead schedule the meeting had been expected until tomorrow when the european community legal advisers were due attend but delegates reviewed the progress the various legal actions today otherwise the meeting was occupied with internal administrative matters delegates said the itc will continue operate with reduced staff after june following the two year extension the sixth international tin agreement well dealing with the ongoing litigation the council will continue with its statistical work and carry out some research studies although staffing the research department being cut one from two previously this week session the council elected philip sparkes australia first vice chairman for the producing members and heinz hofer switzerland second vice chairman for the consumers for the year from july future quarterly sessions are scheduled for october and december reuter 
alum	reynolds metals restart idle potline reynolds metals said plans restart the last idle potline its troutdale ore primary aluminum plant with the restart this tonne year production line reynolds said will operating pct its consolidated primary aluminum capacity tonnes per year reynolds said work the restart will begin the near future and expected that actual metal production will begin september the company said the start was necessitated continuing strong demand for aluminum and dwindling worldwide inventories and that the metal needed supply reynolds various fabricating businesses reuter 
nat-gas	allegheny algh forming subsidiary allegheny and western energy corp said was forming subsidiary market gas smaller users west virginia the company also said completed negotiations sell between and mln cubic feet gas per day large unspecified east coast utility interstate markets will become part the subsidiary operations the company said reuter 
acq	gillette seen object global bidding war ronald perelman head revlon group inc rev may trying ignite bidding war for gillette that could draw some big international players and the process make lot money for himself wall street analysts said several hours before regularly scheduled board directors meeting gillette disclosed that perelman requested consent its board for offer least dlrs per share perelman needed the consent because agreed november not buy stock for years without permission think ronald perelman less interested gillette and more interested putting gillette into play because stands make ton money said andrew shore analyst shearson lehman brothers inc play term used wall street describe what happens when company becomes unwiling takeover target shore noted that according the agreement revlon gets paid there any acquisition gillette through november this year price higher than dlrs per share gillette rose three today following gain three yesterday the agreement would calculated the basis perelman previous holding mln shares adjusted for split for example deal between gillette and some other company dlrs per share would make revlon richer mln dlrs under the formula neither perelman nor his spokesmen returned telephone calls seeking comment revlon stands make substantial amount money someone else takes over gillette said analyst deepak raj merrill lynch and not saying that going happen but gillette undervalued stock with breakup value dlrs per share shore shearson lehman said there are couple reasons why perelman may not really interested acquiring gillette said perelman the process taking revlon private after acquiring control the cosmetics company two years ago probably wants concentrate improving revlon operations trying overhaul and improve the image the dearptment store business another reason that revlon has recently made two other acquisitions under those circumstances shore would not surprised some company such unilever plc procter and gamble decided take look gillette shore mentioned half dozen other potential buyers for gillette including sir james goldsmith hanson trust plc han rjr nabisco inc rjr american brands inc amb and ralston purina ral perelman trying put the company play said wall street arbitrageur gets share the upside the company sold another arbitrageur said expects gillette resist perelman overture can see the board consenting what has changed between november and now said another arbitrageur said was not sure what was going perelman never does anything without fair amount calculation said but added the gillette board has careful they just can say they sued shareholders gillette board was still meeting edt three and one half hours after the scheduled starting time according copy perelman letter released gillette would prepared sign defnitive merger agreement without any financing condition said citibank his lead lender and first boston inc his financial adviser reuter 
zinc	minpeco lifts force majeure zinc ingot shipments from cajamarquilla spokesman 
strategic-metal	trw inc trw sets pact with tektronix tek trw inc trw componenets international inc unit said set pact with tektronix inc triquint semiconductor unit jointly supply gallium arsenide devices for space applications part the agreement the two companyies are working together establish procedures produce class stringent military specification for space use gallium arsenide components triquint makes gallilum arsenide integrated circuits reuter 
zinc	force majeure lifted cajamarquilla peru state minerals marketing arm minero peru comercial minpeco lifted force majeure zinc ingot shipments from the country biggest zinc refinery cajamarquilla spokesman said the spokesman said the problems affecting sulphuric acid and roaster plants that had halted production since may had been resolved however said production zinc ingots this year was expected fall around tonnes this year cajamarquilla from tonnes because the stoppage the refinery has optimum annual production capacity tonnes but its highest production was tonnes refined zinc ingots the spokesman said reuter 
money-supply	assets money funds fell mln dlrs latest week billion 
iron-steel	usx unit offers steel prices directory usx corp said its uss division has available comprehensive sheet steel selection and pricing system detailing the company full line products the company said was the first complete update years the new prices the book are effective after oct one the company said reuter 
copper	inspiration cuts copper price cts inspiration consolidated copper subsidiary inspiration resources corp said lowering its base price for full plate copper cathodes cent cents effective immediately reuter 
earn	agf management ltd six mths may net shr cts cts net revs mln mln reuter 
earn	data med clinical support dmcs qtr loss period ended may shr loss five cts loss cts net loss loss sales note full name data med clinical support services inc per share data adjusted for three for one stock split payable june the only sales reflected fiscal period are sales recorded subsequent the may acquisition the assets predecessor company data med reuter 
acq	nova corp says considering takeover bid for dome petroleum 
acq	carter hawley chh sets record date for vote carter hawley hale stores inc said has set june the record date for shareholders voting the company proposed restructuring its annual meeting the company has yet set date for the meeting but has said will held before the end august under the proposal carter hawley would split into specialty store company and department store company shareholders would get dlrs cash and share each the two new companies for each existing common share they hold the restructuring was announced december after carter hawley rejected buy out offer retail partners reuter 
acq	allegheny sells three industrial units allegheny international inc said sold three its industrial units which served the railroad industry chemetron railway products inc senior management group allegheny terms the transaction were not disclosed included the sale were chemetron railway products true temper railway appliances inc and allegheny axle the company said the three units include plants throughout the the company said reuter 
acq	nova nvaa considering bid for dome dmp nova corp considering takeover bid for dome petroleum ltd either alone part consortium nova chairman bob blair said are thinking about making offer dome amoco canada petroleum ltd the creditors blair told reporters before the annual meeting amoco canada unit amoco corp which has made billion dlr acquisition offer for dome there ongoing serious thought applied dome nova and husky but decision substance future action has been taken either company blair said nova owns pct husky oil ltd hyo blair also said that nova has made decision whether would want lead partner joint purchase dome added that some the discussions with other parties about dome included transcanada pipelines ltd trp but refused name the other participants reuter 
acq	investment firm raises tvx tvxg stake wedge group inc houston investment firm said raised its stake tvx broadcast group inc shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission wedge said bought tvx common shares prices ranging from dlrs share reuter 
acq	group raises nash finch nafc stake group including members the sobey family nova scotia and empire company ltd said raised its stake nash finch shares pct the total outstanding from shares pct filing with the securities and exchange commission the group said bought nash finch common shares between april and june reuter 
trade	canada ties seen worse without trade pact canadian ties could worsen the two nations are unable reach free trade pact according study published two nonpartisan public policy research groups the cato institute washington and the fraser institute vancouver said removing the remaining tariffs cross border trade would benefit both countries but cato chairman william niskanen added the two nations generally harmonious trade relations are probably not sustainable without new agreement the united states and canada whose cross border trade totaled about billion dlrs last year have been holding talks since last june pact end the few trade barriers remaining between their two countries the put deadline the talks october but both sides have said agreement likely despite tough bargaining remained niskanen said pact reached bilateral trade ties could deteriorate because congressional pressure president reagan implement trade laws more aggressively and this could hit some canadian trade practices noted canada seeking foreign investment its auto industry which could put strains the considerable bilateral free trade and canadian autos and parts niskanen also said the canadian government vulnerable resurgence economic nationalism which could restrict exports canada free trade pact backed president reagan and prime minister brian mulroney would open new markets for canada and enable its industries achieve economies scale which would also help widen exports worldwide said would also increase the gross national products both countries niskanen said the goal pact should end all tariffs within years lower subsidies exports set rules for trade services and investments end curbs government procurement and agree ways resolve trade disputes reuter 
gnp	southern europe has strong domestic demand growth strong growth domestic demand was key feature the economies southern european countries though the growth seen slowing this year and next the organisation for economic cooperation and development said its semi annual report the oecd said portugal total domestic demand growth would decline from pct last year five pct and pct slower wage growth restrained private consumption turkey economy grew much faster than expected and domestic demand surged pct but this growth was expected halved five pct next year spain buoyant domestic demand led fixed investment had been the driving force behind rapid growth gross domestic product both fixed investment and private consumption were expected ease during but would still remain strong the oecd forecast that spanish imports would rise sharply next year reflecting strong demand entry the european community and declining competitiveness greece inflation was forecast turn downwards following increase early this year linked with the introduction value added tax and surge food prices due cold weather reuter 
gnp	oecd says high wage deals harming nordic states high wage settlements nordic countries threaten cut exports and reduce the international competitiveness their industries the organisation for economic cooperation and development oecd said denmark the oecd said wage settlements concluded early were likely contribute marked deterioration competitiveness sweden competitive position was also seen risk from accelerating wages the oecd predicted that domestic demand would come under pressure from tight fiscal policy denmark well norway sweden and finland overall economic growth will vary the different countries between and the oecd semi annual report said after strong rise pct total domestic demand norway was seen falling pct and one pct the following year denmark was also expected see slump domestic demand the report said growth gross domestic product gdp was likely speed slightly sweden and finland and while declining denmark and norway iceland needs try harder implement its new economic strategy any more progress made towards sustained and balanced non inflationary growth the oecd said reuter 
earn	mark work wearhouse mww qtr loss period ended may shr loss four cts loss three cts net loss loss revs mln mln note full name mark work wearhouse ltd reuter 
gnp	oecd sees pct west german real gnp growth 
acq	squibb sqb said not interested buying cetus robert fildes president and chief executive cetus corp ctus told reuters that squibb corp not interested buying cetus earlier the companies said squibb would buy from cetus five pct equity postion cetus for about mln dlrs this not attempt squibb become major majority holder cetus fildes told reuters interview squibb has not approached with any indication that they want acquire and wouldn interested that kind arrangement said fildes squibb could not reached comment the late comments fildes squibb cetus first pharmaceutical partner and the only one own equity position cetus eastman kodak and grace both have joint ventures with cetus but neither owns equity position the company said fildes cetus has venture with kodak develp diagnostic products and with grace develop agricultural products earlier squibb and cetus announced joint statement agreement principle form joint venture develop new biotechnology products several fields part the deal squibb will license several cetus anticancer agents including interleukin development squibb will sell the drugs only japan and other markets but not north american and western europe wouldn have done this deal had not been understood that cetus wants build its own fully integrated business north america and europe said fildes said squibb was the good partner because squibb has major joint venture japan and has sales capabilities its own that market fildes said cetus has shunned licensing arrangements with pharmaceutical companies because wanted build its own business many large corporations have invested small biotech firms but squibb investment cetus the first has made biotechnology fildes said that was attractive cetus because wanted partner that didn have relationship with large number other biotechnology companies fildes said his strategy was have partners non drug areas like diagnostics and agriculture but keep the biggest developments anticancer drugs ourselves fildes said the partnership with squibb would used broaden the company reach such big money making areas the cardiovascular anti infective and the anti inflammatory markets squibb also investming mln dlrs cetus research over the next five years squibb putting over mln dlrs research and development make happen while the equity position part the package simply demonstrate the seriousness this partnership said fildes reuter 
earn	tri star pictures inc trsp qtr may shr four cts four cts net revs mln mln avg shrs mln mln note company changed its fiscal year from december the last day february thus results operations for the year ago period have been restated reflect this change current first quarter includes results operations loews theatre management corp which tri star acquired december reuter 
gnp	fall canadian budget deficit slow finance minister michael wilson said tax reform will not affect his determination reign expenditures but his forecasts show slowing the decline the budget deficit the late responsible tax reform must fiscally responsible wilson said speech prepared for the house commons wilson estimated the deficit will fall billion dlrs the year ending march the same level forecast the february budget and the year ended this past march the deficit was expected have been one billion dlrs lower than the billion dlr shortfall originally forecast wilson said wilson said the current fiscal year higher than anticipated spending particularly farm income support programs will offset higher than anticipated revenues but finance department documents show the pace deficit reduction was expected slow temporarily fiscal and result lower oil and grain prices and the transition the reformed taxation system the deficit expected total billion dlrs fiscal and billion dlrs and then fall billion dlrs wilson was optimistic about the outlook for the canadian economy forcasting gross domestic product would expand pct this year and pct the economy grew actual pct inflation meanwhile expected stabilize around the current four pct level over the next two years reuter 
interest	anz banking group says will cut prime rate pct from june 
interest	anz banking group cuts prime rate pct the australia and new zealand banking group ltd anza said will cut its prime rate pct from effective june the cut takes the anz prime the lower end the range prime rates being offered australian trading banks the highest rate pct the cut follows announcements cuts yesterday citibank ltd pct from effective today and commonwealth bank australia pct from effective june reuter 
earn	national semiconductor corp nsm fourth quarter shr profit six cents loss net profit mln dlrs loss mln sales mln mln avg shrs mln mln year shr loss cents loss dlrs net loss mln dlrs loss mln sales billion billion avg shrs mln mln note current year figure includes previously announced mln dlr restructuring charge figures include extraordinary credit from tax benefit mln dlrs quarter mln year earlier and mln for year mln year earlier the year net reflects mln dlr gain from cumulative effect accounting change reuter 
trade	shultz warns asean looming trade problem secretary state george shultz warned members the association southeast asian nations asean they could longer rely increased exports the for growth given the importance exports particularly export manufactures all your countries you are going have work hard diversify your markets said while you may able maintain your current market share the you clearly will not able look the take major increases your exports added shultz told the foreign ministers brunei indonesia malaysia the philippines singapore and thailand the would cut its huge foreign trade deficit more rapidly than many now believed said asean looming trade problems would not necessarily stem from protectionist legislation now being contemplated congress but simply because the adjustments the economy will have make order service our large and growing external debt shultz said the deficit had resulted not from falling exports but from higher imports that had fuelled world growth reuter 
alum	indonesia raises stake aluminium plant indonesia has increased its share billion yen aluminium smelter joint venture with japan from pct asahan project authority director suhud said the japanese export import bank said indonesia had raised its share indonesia asahan aluminium company capitalised billion swapping billion yen government loans the company for equity stake the japanese shareholders the overseas economic cooperation fund and companies are invest another billion yen raising capitalisation billion yen asahan reported total losses billion rupiah between and suhud said much the company billion yen debt had been caused falling tin prices and the appreciation the yen against the dollar aluminium sold dollars prices improved from dlrs tonne six months ago about dlrs today the plant supposed break even prices stay dlrs tonne sahud said the plant with capacity tonnes year would probably lose money again the plant situated north sumatra produces mostly for japan reuter 
alum	japan approves aid for indonesia brazil aluminium japan cabinet approved plan help financially troubled aluminium ventures indonesia and brazil official the ministry international and trade industry miti said japan will invest billion yen indonesia asahan aluminium addition the billion yen already invested the company the government and private interests will equally share the additional investment said they will also provide equal shares billion yen new investment the albras amazon aluminium project brazil addition the billion yen already invested the japan export import bank will cut its rates loans asahan and albras about five pct from about seven pct the official said interest rates loans japan private banks the two projects are expected reduced around five pct from the current seven eight pct but agreement has yet reached industry sources said under the rescue scheme for asahan which billion yen has been invested indonesia will also extend another billion yen the company this will raise indonesia investment ratio about pct from the current pct the brazilian government has already agreed invest additional billion yen albras which investment now totals billion yen but its stake will not change from pct the official said the sources said the rescue programs for the two projects were larger than earlier expected reflecting japan desire help develop the economies indonesia and brazil and stabilise sources aluminium japan depends imports for more than pct its aluminium demand which totals some mln tonnes year they said reuter 
acq	mitsui buys five pct stake chip maker mitsui and ltd mits paid mln dlrs early may for five pct stake zoran corp california based maker large scale integrated circuits lsi with computer graphic communications and medical applications mitsui spokesman told reuters said the two firms will form marketing company japan early next year although details the joint venture are not yet fixed mitsui expects last year billion yen japanese lsi market grow quickly zoran was founded and now has about employees said reuter 
trade	japan june interim trade surplus narrows japan custom cleared trade surplus narrowed billion dlrs the first days june from billion year earlier the finance ministry said the june interim surplus compares with billion dlr surplus the same may period fob exports the first days june rose pct from year earlier billion dlrs while cif imports rose pct billion the average yen dollar rate used for the figures was yen against year earlier reuter 
earn	itoh and ltd citt year ended march group shr yen net billion billion pretax billion billion operating billion billion sales billion billion reuter 
acq	sainsbury says taking control shaw supermarkets for dlrs share 
acq	sainsbury taking control shaw supermarkets sainsbury plc snb said agreed take control the shaw supermarkets inc through combination share purchases and tender offer dlrs share sainsbury bought about pct the stock said its subsidiary chene investments inc bought mln common shares from the controlling davis family yesterday dlrs share for mln dlrs lifting its stake pct tender offer for the outstanding shares will launched also dlrs share for maximum further cost mln the shaw board and the davis family has agreed accept the offer thus assuring sainsbury total holding pct the company had allotted mln new ordinary shares warburg securities ltd which said would sufficient finance about mln dlrs the maximum mln dlrs payable shaw operates chain supermarkets massachusetts maine and new hampshire which produced sales billiob dlrs and pretax profit mln the end had net assets mln dlrs last september sainsbury increased its stake shaw pct the year march reported rise pretax profit mln stg from mln sales that increased billion from billion sainsbury shares had fallen five pence before the announcement from last night close but were unmoved news the deal reuter 
earn	isuzu motors ltd isum six months april parent shr loss yen profit interim div nil nil net loss billion profit billion current loss billion profit billion operating loss billion profit billion sales billion billion outstanding shrs mln mln reuter 
trade	japan must try harder cut surplus minister japan must try harder reduce its trade surplus the yen will come under renewed upward pressure economic planning minister tetsuo kondo told press luncheon hoped japan could cut its current account surplus some billion dlrs year until reduced some billion dlrs the fiscal year ended march the surplus totalled billion dlrs about pct gnp the billion yen economic stimulation package the government unveiled late last month would help slash japan current account surplus five six billion dlrs said reuter 
tin	thai smelter faces tin concentrate supply shortage thailand major tin exporter and producer thailand smelting and refining thaisarco said may unable meet all its overseas orders because insufficient supplies tin concentrates from thai mines local mines cut combined daily tin concentrate sales thaisarco royal dutch shell group unit less than tonnes earlier this month from previous tonne average commercial manager yoot eamsa ard told reuters said the cuts resulted from government decision let the temporary business and municipal tax reductions exported tin lapse june the taxes levied the tin mines rose pct this month from pct valorem over the past year the lower levels had been introduced last year temporary move aid the tin industry after prices collapsed late yoot said thaisarco had dig into its stocks meet large portion new overseas orders which were averaging tonnes per day result said thailand could fail fill some tonnes its tonne tin export quota allocated the association tin producing countries atpc for the year ending february reduced tin exports this year could cause the atpc allocate lower quota next year yoot said the supplies shortage should prove temporary however because the thai cabinet expected review mineral resources department proposal reinstate the low taxes late this month yoot said the department said thailand exported tonnes tin during january may compared with tonnes year ago reuter 
crude	sri lanka plans renew abu dhabi oil contract ceylon petroleum corp cpc has decided renew its one year contract with abu dhabi for tonnes upper zakum crude oil cpc officials told reuters they said cpc made the recommendation the cabinet and now awaiting its approval cpc one year contract with abu dhabi expired may this year and wants the renewed contract begin june the government selling price delivery will determined the course the year last year shipments were three parcels tonnes each and four tonnes each cpc officials also said the company agreed with the egyptian government for the supply tonnes gulf suez crude for delivery two shipments this year the government selling price last year cpc bought tonnes gulf suez through itoh officials said plans buy tonnes basra light from iraq have not been finalised yet because several constraints cpc said could not accept tonne parcels and proposed lift tonnes eight shipments iraq national oil inoc told cpc red sea port where lifting was take place could not accept small ships inoc then proposed deliver eight shipments tonnes each cpc said inoc planned ship the oil indian port for delivery indian requirements later going colombo offload cpc needs but cpc considered this unsuitable cpc said had not received reply from inoc since december sri lanka imports all its annual needs mln tonnes this year plans buy tonnes the spot market compared with about mln tonnes last year reuter 
ship	taiwan evergreen line public liner shipping specialist evergreen marine corp taiwan largest private company has applied the security and exchange commission public next month company spokeswoman told reuters she said evergreen had doubled its capital eight billion taiwan dlrs since last august the capital increase will boost our operations she said she said evergreen will use the funds raised from the stock market buy new ships and step its global services the spokeswoman said the company posted after tax profit more than one billion dlrs last year total revenues billion compared after tax profit billion revenues billion evergreen has placed newbuilding orders for three teu twenty foot equivalent unit fully cellular container ships with the state owned china shipbuilding corp for delivery late evergreen has fleet container vessels totalling more than two mln dwt the spokeswoman said reuter 
ipi	dutch industrial production falls pct april dutch seasonally adjusted industrial production fell pct april compared with the previous month and was pct down the same period last year figures from the official statistics bureau cbs show the april index base stood march industrial production rose pct from february the unadjusted april index figure fell pct from march compared with pct rise march over february reuter 
cpi	canada may consumer price index rises pct statistics canada said 
cpi	canada consumer price index pct may canada consumer price index rose pct may base following pct rise april and pct rise may statistics canada said the may year year rise was pct compared with pct rise april reuter 
wpi	german producer prices rise pct may west german producer prices rose pct may compared with april stand pct lower than may last year the federal statistics office said april producer prices fell pct from march and dropped pct from their levels year earlier the statistics office said producer prices for liquefied gas fell pct may from april and heavy heating oil prices declined pct while lead prices rose pct and silver prices increased pct reuter 
gas	japan firms launch sales octane gasoline japanese oil companies are starting campaigns market octane gasoline meet growing domestic demand for higher quality motor fuel oil sources said ten companies plan offer the unleaded gasoline this summer starting with idemitsu kosan ltd june showa shell sekiyu shol introduced its formula shell octane gasoline the japanese market january this year formula shell has achieved strong sales japan despite higher price than regular octane gasoline which has prompted other oil firms offer rival product the sources said have received good response from consumers formula shell terms smoother ride and effective fuel consumption showa shell said shell product sells for yen per litre yen higher than regular gasoline and has already achieved pct share japan high octane gasoline market said high octane gasoline accounts for pct shell total gasoline sales japan added idemitsu said hopes raise high octane sales pct its total gasoline sales from about seven pct immediately after the launch its idemitsu nippon oil ltd npol said will launch its octane gasoline july aiming for increase high octane sales pct from six pct its total gasoline sales the rush compete for high octane gasoline market share has been spurred expectations that the government will lift gasoline production quotas and restrictions gasoline station construction the next two three years major oil companies are trying boost their gasoline sales network ahead the proposed lifting gasoline production quotas official major oil company said advisory panel the ministry international trade and industry miti recommended this week that the government press ahead with deregulation the oil industry including the lifting gasoline production quotas help oil companies increase their international competitiveness japan three biggest gasoline marketers nippon oil idemitsu and showa shell suffered supply shortages under the production quota guideline fiscal ended last march domestic gasoline demand during the year was pct from the previous year according miti report reuter 
acq	bpcc planning sale packaging operations the british printing and communication corp plc bpl considering selling its specialist packaging and labelling operations spokeswoman said she gave dates prices for the transaction but said the units would sold negotiation she declined give any turnover profit figures for the packaging and labelling operations beyond saying that they were very profitable they formed self contained part the overall group she said analysts said the packaging and labelling division could sold for mln stg earlier this week group chairman robert maxwell also said expected float its mirror group newspaper subsidiary bought from reed international plc reed for mln stg the spokeswoman said that bpcc intended keep majority share the newspaper group was floated bpcc currently locked legal battles resulting from its attempt take over publisher harcourt brace jovanovich inc hbj earlier this week bpcc launched two for three rights issue raise mln stg and said the money raised would enable renew its assault harcourt has also expressed interest dutch publisher kluwer kluw reuter 
ship	belgian one day strike hits transport shipping hour strike belgian public employees protesting against government pay offer disrupted transport and hit ferry services and shipping port and union officials said some cross channel ferry services from ostend were cancelled the local news agency belga said antwerp port authority spokesman said electricians came out support reducing ship movements trickle unions said ghent and other major belgian ports were also hit few trains were running and some early morning flights sabena belgian national airline were cancelled reuter 
ship	china resumes ussr ship repairs after year gap china has resumed repairs soviet ships after year break caused the ideological split between the two countries the new china news agency said agreement resume the business was signed the two sides wednesday shanghai where three soviet commercial vessels were being repaired the china daily said the first two soviet ships repaired china since left the ports dalian and xingang last month yueran managing director china state shipbuilding corp ship repair department told the newspaper the soviet union lacked adequate repair facilities for the more than ships deployed the far east said china yards offered competitive prices guaranteed quality and prompt delivery reuter 
acq	fidelcor ficr buys new england bkne stake fidelcor inc said has acquired substantial portion the assets bank new england corp lazere financial corp subsidiary for undisclosed terms the company said the transaction includes most lazere loan portfolio and other assets including lazere miami office reuter 
acq	chrysler agrees acquire electrospace systems for mln dlrs 
interest	top discount rate bill tender rises pct 
ship	spain cargo firms hire dockers offset strike cargo handling companies said they were hiring twice the usual number dockers offset intermittent strike spanish ports spanish dockers began nine day strike wednesday which they only work alternate hours protest government plans partially privatize port services reuter 
acq	chrysler tender for electrospace ele chrysler corp said electrospace systems inc agreed acquired under merger agreement which chrysler will tender dlrs share for pct the richardson texas based defense electronics contractor said total cost chrysler buy all the outstanding stock would about mln dlrs electrospace systems designs develops and installs communications and electronic systems and equipment for the specialized needs military and commercial customers worldwide chrysler said electrospace will help its gulfstream operations grow military and commercial aircraft sales but said there are plans merge gulfstream and electrospace rather they will operate sister companies said chrysler said its tender offer expected begin june and will managed first boston corp for the fiscal year ended april electrospace systems had earnings mln dlrs sales mln dlrs the company employs people about pct its sales were the military reuter 
crude	opec president lukman expects short calm meeting opec conference president rilwanu lukman said expects next week ministerial meeting vienna brief and calm and that opec current price and production agreement may only need slight review expect the meeting vienna short and calm lukman who also nigerian oil minister told reporters here ahead his departure sunday for the conference which starts june already have agreement which may need only slight review lukman said the agreement reached long session opec ministers december last year pegged the group crude oil output mln bpd for first half fixed prices around dlrs barrel since then prices have risen from dlrs december just above the official opec levels with oil industry analysts firmly convinced the organisation will maintain the agreement keep the market stable myself believe that opec will tend take position strengthen the gains have made far lukman said declined say the current ceiling should maintained raised mln bpd for the third quarter and mln for the fourth provisionally agreed last december whatever decision arrive will guided our collective will keep the market strong said said non opec member norway which visited two weeks ago had pledged further cooperation with the group and this was significant for its members lukman said heavy destocking consumers early this year when opec fixed price regime came into effect and restocking now for the winter was responsible for current market strength reuter 
acq	davis mining revises offer for becor bcw becor western inc said davis mining and manufacturing inc has amended its offer for the company becor said the cash portion the offer remains unchanged dlrs share but the principal amount debentures would increase dlrs from dlrs becor share the amended offer also includes dlrs face value the surviving corporation pct nonvoting cumulative preferred not included the previous offer and reduces the amount the surviving corporation common held present shareholders pct from pct becor western the amended davis mining offer suject confirmation certain due diligence information becor also said discussions continue with one other possible bidder which still has not been identified again the company said expects discussions with the other possible investor conclude shortly that time the board will evaluate all the then existing offers for becor added reuter 
acq	mtech mtch has commercial shares mtech corp said has received shares commercial resources corp response its dlr per share tender offer for all shares the company said has extended the offer until july was have expired yesterday reuter 
earn	micron technology inc dram qtr june four shr loss cts loss cts net loss loss revs mln mln avg shrs mln mln nine mths shr loss dlrs loss dlrs net loss mln loss mln revs mln mln avg shrs mln mln reuter 
acq	nat computer nlcs buy data card stake national computer systems inc said agreed acquire deluxe check printers inc dlx pct stake data card corp national computer said plans issue mln dlrs five year subordinated convertible debentures purchase the shares data card from deluxe completion the proposed transaction subject regulatory approval expected mid july said the debenture will bear increasing rate interest over its term with pct weighted average rate and will convertible into national computer common stock dlrs share said separately deluxe said its data card investment longer fits its business strategy deluxe has held interest data card since when provided funds for data card buy troy computer products corp november data card said planned sell its troy division reuter 
acq	microsemi mscc acquires hybrid components microsemi corp supplier semiconductor products and assemblies said has acquired the operating assets hybrid components inc for mln dlrs cash microsemi said the purchase includes the fixed assets software inventories technology intellectual properties and other business operations hci the company said hci will continue operate its beverly plant subsidiary microsemi reuter 
trade	reagan says trade bill faces veto present form president reagan said would veto house passed trade bill requiring mandatory retaliation for unfair trade reached its desk its present form statement white house meeting with senate republicans the legislation said would have choice but veto that bill its present form said the measure would move exactly the wrong direction towards high tariffs trade barriers trade distorting subsidies slow growth and crimped world markets and would destroy jobs reuter 
interest	central bank warns excessive rate cuts bank england governor robin leigh pemberton said lowering interest rates too fast could jeopardise recent economic achievements the remarks prepared for delivery businessmen birmingham said prospective returns real investment are more favourable relative those financial assets than for good number years would surely foolish put that favourable conjuncture risk lowering interest rates prematurely excessively said might enjoy short term boost activity but the risk damaging return the uncertainty and acrimony high inflation added leigh pemberton said recognised there are some who would argue that interest rates are still too high and deter investment industry but should not forget that less than year ago were intervening support sterling and had some temporary difficulty persuading the markets that one pct increase base rates pct was sufficient tightening policy the time added base rate currently nine pct reuter 
earn	american greetings corp agrea qtr net period ended may shr cts cts net revs mln mln reuter 
earn	american greetings corp agrea qtr net period ended may shr cts cts net revs mln mln reuter 
earn	texas utilities txu mos may net shr dlrs dlrs net mln mln rev billion billion avg shares mln mln reuter 
earn	boston digital corp bost qtr net period ended april shr profit nil loss eight cts net profit loss sales year shr loss cts loss cts net loss loss sales mln mln note earnings each period include provision for unrealized loss marketable securities dlrs reuter 
acq	colonial bancgroup clbga buys destin bank colonial bancgroup said agreed buy first national bank destin for undisclosed sum the company said approved the sale will mark its second move acquire florida bank said signed letter intent buy liberty bank pensacola april reuter 
acq	chrysler has plans raise bid chrysler corp said has intention increasing its offer for electrospace systems inc ele chrysler agreed purchase the texas based defense electronics contractor tender offer dlrs share for total value about mln dlrs eletrospace shares closed yesterday the nyse have intention increasing the offer company spokeswoman said believe adequate and will accepted she said the proposed transaction was unanimously recommended the board directors and principal shareholders electrospace further she noted that the dlrs tender offer price pct above the price electrospace shares before april when put itself for sale reuter 
crude	texaco canada raises crude oil postings canadian cts bbl light sweet now dlrs bbl 
interest	lenders offer more fixed rate mortgages more lenders are offering homebuyers fixed interest rate mortgages under which the borrower makes the same monthly payment matter what happens other interest rates and with mortgage rates now their lowest levels years the loans have been snapped eager home buyers trying lock into cheap money the decision offer fixed rate loans industry officials said reflects the increasingly competitive nature the home mortgage business while fixed rate mortgages are uncommon the they were the mainstay the business the until only few years ago but the early interest rates soared lenders mostly savings and loan associations were earning rates low three pct year fixed rate mortgages they held their portfolios but had pay depositors rates high pct induce them retain their accounts result hundreds institutions collapsed were forced merge the survivors decided offer mortgages whose rates would move line with the cost funds very much have the example the thrifts mind said spokesman for abbey national building society explaining why his institution for the time being only offering variable rate mortgages the rash advertising solicit new business has helped homebuyers become even choosier about loans and lenders concede they are being forced undercut each other still more sharp cuts variable rate mortgages announced earlier this week the nation two largest building societies and national westminster bank plc reflect growing competition for new business officials all three institutions said the fixed rate mortgages offer carry interest rates even below those the variable rate loans course they are less profitable than other variable rate mortgages said spokesman for midland bank plc which earlier this year said earmarked mln dlrs for fixed rate new mortgage loans but said the bank willing offer less profitable loans because was just another way attract people our mortgage product trustee savings bank plc tsb was offering five year fixed rate mortgages pct earlier this year the mln stg that tsb set aside for the loans was exhausted within just few days according spokeswoman everybody loves under pct mortgage she said noting that within five days the bank loaned the equivalent pct its volume short the appeal fixed rate mortgages that they offer opportunity gamble the direction interest rates interest rates fall after the mortgage made the lender earning above average return assets but interest rates rise the homebuyer who has won the benefit cheap money household mortgage had planned offer year fixed rate mortgage after the june elections the assumption that conservative party victory would help money market rates fall further according duncan young managing director young explained that the company had planned protect itself against the chance rising interest rates buying complicated hedging instrument but money market rates have risen contrary expectations and the company has shelved its plans for the time being said money market rates were too high arrange both the mortgages and hedge profitably however said that when the household mortgage does make fixed rate mortgages likely securitise them this means bundling different mortgages together resemble bond and selling them investor for technical reasons securitisation simpler and more efficient with fixed rate rather than with floating rate mortgages the where fixed rate mortgages are popular again securitisation has provided the bulk mortgage money over the past few years reuter 
crude	texaco txc canada raise crude oil postings texaco inc texaco canada said will raise postings for its edmonton swann hills crude canadian cts barrel effective june the company said the new posting for edmonton swann hills will dlrs barrel the price hike follows round crude oil price increases started late june sun the other major canadian crude suppliers raised prices june reuter 
reserves	norwegian central bank reserves fall may norway central bank reserves totalled billion crowns may against billion april and billion may the central bank said its monthly report foreign exchange reserves totalled billion crowns compared with billion april and billion year ago gold reserves were unchanged from april mln crowns and also unchanged from the year ago figure central bank special drawing right holdings were billion crowns compared with billion april and billion may reuter 
ship	high water extends rhine river blockage rising water levels the rhine caused heavy rain are delaying operation near karlsruhe raise two sunken boats which have blocked the river main navigation channel since early last week karlsruhe water authority spokesman said said two floating cranes were unable begin lifting the sunken tug orinoko and its lighter because the water level had reached centimetres and was forecast rise tomorrow was unable say when the operation might begin meanwhile high water cologne has forced vessels travel reduced speed water authority spokesman cologne said but water authority spokesman duisburg kms north cologne said vessels there were moving normally reuter 
acq	greyhound lines agrees acquire remaining routes trailways corp 
acq	greyhound agrees acquire trailways routes greyhound lines said agreed acquire the routes trailways corp greyhound said had petitioned the interstate commerce commission for authority acquire and operate trailways routes its buses and some its terminals and garages trailways has abandoned all service seven states the past year and more than half its sevice three other states the company said without intervention the collaspe trailways imminent said fred currey chairman and president greyhound reuter 
heat	court upholds apex decision favoring nymex the court appeals for the second circuit upheld lower court decision dismissing suit apex oil against the new york mercantile exchange and several oil companies the court however ruled that apex oil could pursue anititrust and commodities market manipulation allegations against belcher oil unit coastal corp cgp apex oil primarily trading company charged that several companies including belcher and nymex conspired force deliver heating oil had sold the mercantile exchange knowing apex could not make full delivery the nymex ordered apex deliver four mln barrels heating oil sold via february heating oil contract apex eventually fulfilled this obligation but claimed damages richard wiener attorney for apex cadwalader wickersham and taft said the company has not yet decided whether pursue its case against belcher oil the nymex meanwhile has counterclaim pending against apex oil seeking unspecified amount attorney fees and mln dlrs punitive damages according nymex spokeswoman reuter 
ship	rhine blocked for three more weeks salvager dutch salvage firm smit tak said may take some three weeks lift the swiss tug orinoko and its lighter pavo which sank days ago karlsruhe west germany blocking the rhine river smit tak which with its west german subsidiary harms bergung gmbh was commissioned the local water authorities raise the vessels said its lifting fleet was position and divers had made the first inspection smit still preparing its final salvage plan and said the work would begin sunday reuter 
acq	stifel financial said received unsolicited merger proposal 
acq	harcourt hbj mum reed reed rumors harcourt brace jovanovich inc officials were not available for comment market rumors that interested acquiring reed international plc reed officials first boston inc harcourt financial adviser declined comment wall street arbitrageur who owns harcourt shares said the rumors did not make much sense because harcourt has announced recapitalization plan ward off takeover attempt british publisher robert maxwell completely inconsistent with the recapitalization the only way they drop the recapitalization said calls harcourt seeking comment were not returned harcourt recapitalization will come under scrutiny court orlando fla monday the company has sought declaratory judgment convertibility debentures due light the recapitalization harcourt said statement this week that salomon brothers inc and mutual shares corp have intervened the case claiming ownership more than mln dlrs face amount the debenture addition british printing and communications corp headed maxwell owns mln dlrs face amount harcourt said salomon said filing with the securities and exchange commission today that has the debentures the court decides they should converted par value one dlr they could converted into mln shares harcourt asking the court rule the company not required issue common debenture holders who did not convert prior june eight increase reed shares london today was attributed brokers rumors harcourt interest and also rumors that maxwell might buyer but adviser maxwell new york said there basis think that reuter 
earn	new england electric system nes five mths net five mths end may shr dlrs dlrs net mln mln revs mln mln avg shrs mln mln mths shr dlrs dlrs net mln mln revs billion billion avg shrs mln mln reuter 
acq	minnesota may consider anti takeover amendment minnesota governor rudy perpich considering calling special legislative session consider amendments the state anti takeover statute according the governor office spokesman for the governor said nothing will decided today but said the governor will evaluate later whether call special session the next few days the governor office said the possible action was triggered proposal dayton hudson corp which has been the subject takeover rumors spokesman for the governor said the company proposed several amendments perpich designed make any takeover attempt the state more difficult dayton hudson suggested amendments passed and instituted next friday the spokesperson said press reports minneapolis newspapers this morning quoted several legislators saying they were inclined support legislation that would help dayton hudson according governor spokesperson senate majority leader roger moe was quoted saying would inclined support any action that would help the company the spokesperson said robert vanasek the house speaker designate was quoted the minneapolis star and tribune saying are taking their dayton hudson concerns very seriously and are going what can help reuter 
acq	boeing merger waiting period expires boeing said the hart scott rodino waiting period required connection with its pending tender offer for argosystems inc argi expired midnight june boeing began its dlr per share cash tender offer for the defense electronics firm june two reuter 
acq	megavest acquire computer trade development megavest industries inc said has agreed principle acquire unlisted computer trade development corp exchange for mln shares its common stock the company said has about mln shares outstanding said computer trade had revenues about mln dlrs last year reuter 
sugar	cold wet weather slows beet growth europe cold and wet weather northern western and central parts europe continued slow beet growth but plant density reported good most countries sugar statistician licht said temperatures were too low for the season and the rain has hampered field work and occasionally led water logged fields but eastern and southeastern europe warmer weather has boosted sugar beet growth weather the soviet union also allowed good beet development licht said sweden beet growth has been delayed although plant population reported regular and good cool and rainy weather slowed beet growth denmark and crop prospects are rated slightly below normal the united kingdom and ireland was rather cool with heavy rainfall places which has delayed beet growth france belgium the netherlands and west germany was mostly cool with frequent and often heavy rainfall which continued slow down beet growth and often made field work impossible austria was warm with some rainfall which was favourable for beet growth licht said czechoslovakia and poland was mostly warm favouring beet development but some heavy rain may have caused damage the european beet growing regions the soviet union was warm with showers over most areas and weather was generally good for the emergence and growth beets south eastern europe warm weather with some rainfall boosted beet development labour trouble threatens the beet crop spain disputes between the factories and the trade unions are threatening delay the start processing the southern areas where beets are maturing very early this year reuter 
acq	first fbt reiterates speculation premature first city bancorp texas inc which soliciting bidders reiterated that premature speculate what course action will pursue following story today wall street journal that has attracted least three potential acquirers first city said the article was not confirmed the company and cautioned that there absotluely nothing say report beyond its statement the journal reported that among the bidders for first city was robert carney and robert abboud former chicago banker reuter 
earn	chancellor corp chcr qtr march loss shr loss cts loss three cts net loss dlrs loss dlrs revs dlrs dlrs mths shr profit one dlr profit dlrs net profit dlrs profit dlrs revs mln mln reuter 
acq	chevron chv cuts unc unc stake pct chevron corp said sold mln shares unc inc common stock june leaving with mln unc common shares pct the total filing with the securities and exchange commission chevron said sold the shares for dlrs each total mln dlrs under agreement had with unc the stock was sold underwriting syndicate managed dillon read and inc and donaldson lufkin and jenrette securities corp with the underwriters paying mln dlrs and unc paying mln said reuter 
acq	safeway agrees severance for dallas workers the united food and commercial workers union said unlisted safeway inc has agreed provide severance pay about workers the dallas area resulting from the closure division last april the union said the total severance payment will about five mln dlrs said the division was closed result billion dlrs debt incurred from leveraged buyout last year the union said filed suit following the leveraged buyout protect the claims union members the leveraged buyout was implemented ward off bid dart group corp darta reuter 
trade	african states agree regional tariff cuts fifteen countries eastern and southern africa have agreed cut tariffs regional trade pct every two years statement the preferential trade area pta which seeks create common market stretching from ethiopia the north lesotho the south said the governments would make the first tariff cut next year they would assess the impact the tariff reductions and work out new timetable for the complete elimination all barriers trade the year the pta set groups burnudi the comoros djibouti ethiopia kenya lesotho malawi mauritius rwanda somalia swaziland tanzania uganda zambia and zimbabwe pta sources said the agreement averted split between members wanting more progress towards free trade and weaker states concerned about the effects customs revenue the reductions cover only common list widely traded commodities and goods but pta sources said the organisation planned expand the list include items reuter 
acq	galaxy gtv sell west texas assets galaxy cablevision said signed letter intent sell the assets its cable television systems west texas which serve about basic subscribers through nine cable television systems terms were not disclosed and the galaxy did not identify the buyer the company also said will make its first cash dividend cents per unit about august holders record june march galaxy completed public offering mln units for mln dlrs and acquired the assets cable television systems for about mln dlrs reuter 
acq	north american communications weighs possible sale merger 
acq	stifel financial receives merger proposal stifel financial corp said received unsolicited merger proposal from privately held laidlaw adams and peck inc for dlrs share cash for all its outstanding shares the proposal which expires july values stifel about mln dlrs stifel has about mln shares outstanding the company said its management and board directors will consider the proposal but have not set date meet said the proposal currently being studied goldman sachs and and legal counsel said conditions the proposal include obtaining necessary financing satisfactory completion due diligence investigation laidlaw and execution employment contracts with key employees designated laidlaw reuter 
money-supply	canadian money supply fell mln dlrs week bank canada said 
crude	oil prices strong ahead opec meeting crude oil prices are their highest level more than year ahead next week opec meeting even though most industry analysts not expect any policy changes from the session they said prices which have steadily climbed since the organization accord december have risen technical factors within the market and concerns about supplies because the iran iraq war which could disrupt deliveries from the gulf the benchmark crude west texas intermediate trading around dlrs the july contract new york mercantile exchange energy futures and the spot market that its highest level since january opec conference president rilwanu lukman who nigeria oil minister said friday expects the meeting vienna brief and calm and that opec current price and production agreement may only need slight review although most industry experts expect just reaffirmation the december agreement oil prices continue climb due desire hedge positions case any surprises analysts expect the higher prices continue until soon after the opec meeting that point barring any increased tension the gulf changes opec policies prices should begin easing opec will probably not anything hasn already agreed december because oil prices are firm said john hill vice president merrill lynch futures opec agreed december maintain official oil prices dlrs barrel and raise the group production ceiling mln barrels per day the third quarter and mln barrels the fourth quarter this agreement helped send prices sharply higher rising from dlrs barrel early december several opec members who are price hawks including iran algeria and libya will seek higher official price and reduction output and west texas intermediate crude continues trade above dlrs barrel there greater chance that opec will raise its official dlrs price said nauman barakat analyst smith barney harris upham and but most analysts expect the more moderate producers such saudi arabia block any changes policy the meeting will non event with change the official prices because opec and particular the saudis are committed stabilizing the market said rosario ilacqua analyst with rothschild however some analysts said opec may need hold meeting september evaluate market conditions overproduction opec will become real problem the fourth quarter when the quota raised mln barrels day and iraq pipeline through turkey brings another barrels the market each day said john lichtblau president petroleum industry ressearch foundation most expect saudi arabia oppose price increase this meeting but many look for increase year end dlrs offset the decline the dollar oil prices are denominated throughout the world dollars the currency declines producers receive less money for their oil the only real production restraint opec saudi arabia said sanford margoshes analyst shearson lehman brothers the second half the year expect the saudis not produce their mln barrel day quota and therefore act vehicle stablize the market and pave the way for two dlrs barrel price increase the december meeting said one uncertain factor the course the iran iraq war the wild card the increased tensions the persian gulf said frank knuettel analyst with prudential bache securites oil tankers taking oil from iraq and kuwait have been regular targets for iranian planes the reagan administration planning put kuwait tankers under the protection the flag with naval escorts extra oil inventories are needed during time crisis like this and just general nervousness over incident that could disrupt oil supplies drives prices knuettel said reuter 
acq	times nyt buy gwinnett daily news the new york times said had agreement buy the gwinnett daily news evening newspaper published lawrenceville terms were not disclosed the company said gwinnett has weekday circulation about and sunday circulation about the new york times also said gwinnett county northeast suburb atlanta the fastest growing county the country the purchase agreement includes the forsyth county news published wednesday and sunday and the winder news weekly among other publications reuter 
acq	reed says has comment harcourt rumours reed international plc reed said had comment make stock market rumors that harcourt brace jovanovich inc hbj may make bid for the company order escape unwelcome offers from robert maxwell british printing and communication corp bpcl spokeswoman for reed said earlier analysts forecasts that bid for reed will have about mln stg were totally unrealistic adding that its current market about billion stg reuter 
crude	unocal ucl scraps fluidized bed boiler project unocal corp said told the treasury department that will not include fluidized bed combustion technology method for the more efficient burning solids its parachute creek oil shale project colorado due high costs under agreement with the now defunct synthetic fuels corp unocal said would study using the technology the oil shale plant return the company would have been eligible for mln dlrs loan gaurantees and price supports from the treasury department which took over the contract from the synthetic fuels corp unocal said unocal said its studies showed the cost for the fluidized bed combustion facility would have exceeded mln dlrs compared with original estimate mln dlrs the fluidized bed facility would have provided heat and electricity for the oil shale project unocal said last year fall oil prices and the loss investment tax credit under the tax reform act made the project uneconomical even with government price supports and loan guarantees unocal said the parachute creek oil shale plant produces about barrels per day crude shale oil unocal said reuter 
trade	civil service strike delays trade figures civil service industrial action started early this month will delay the publication may overseas trade figures which had been due out next thursday trade and industry department statement said department spokesman said the figures will probably put back about month the june trade figures due late july will also delayed added reuter 
money-supply	canadian money supply falls week canadian narrowly defined money supply fell mln dlrs billion dlrs week ended june bank canada said which plus daily interest chequable and non personal deposits fell mln dlrs billion dlrs and which plus other notice and personal fixed term deposits fell mln dlrs billion dlrs which non personal fixed term deposits and foreign currency deposits residents booked chartered banks canada fell mln dlrs billion dlrs chartered bank general loans outstanding fell mln dlrs billion dlrs canadian liquid plus short term assets rose mln dlrs billion dlrs and total canadian dollar major assets the chartered banks fell mln dlrs billion dlrs chartered bank net foreign currency assets fell mln dlrs minus billion dlrs notes circulation totalled billion dlrs mln dlrs from the week before government cash balances rose mln dlrs billion dlrs week ended june government securities outstanding fell mln dlrs billion dlrs week ended june treasury bills rose mln dlrs billion dlrs and canada savings bonds fell mln dlrs billion dlrs reuter 
platinum	platinum demand estimated pct higher demand for platinum could reach mln ounces compared with estimated offtake mln chris clark platinum marketing director for johnson matthey plc said clark told meeting the minerals research organisation milton keynes foresaw ounce increase consumption for use autocatalysts currently the largest single application for platinum jewellery consumption set rise ounces clark predicted his speech the text which was released london today clark said his forecast allowed for only modest further increase investment buying and may well cautious said south africa was the most likely source additional supplies and will need increase output about ounces meet increased demand the capital investment required produce the additional output would around one billion dlrs and the political climate may make difficult raise the money said the soviet union whose exports have declined since the might increase sales the west about ounces clark said the very probability growth demand set against the massive investment required for expansion and that expansion only being viable south africa russia leads conclude that the price platinum will substantially underpinned the medium long term clark said reuter 
acq	metro airlines mair make acquisition metro airlines inc said has agreed principle acquire privately held chaparral airlines inc for dlrs cash chaparral provides regularly scheduled service out dallas fort worth regional airport affiliated carrier amr corp amr and had revenues mln dlrs reuter 
earn	telco systems inc telc qtr may loss shr loss cts loss five cts net loss loss sales mln mln avg shrs nine mths shr loss dlrs profit cts net loss profit avg shrs reuter 
acq	altus bank alts fails reach agreement altus bank said has not been able reach definitive agreement buy horizon financial corp horizon funding and billion dlrs loan servicing from victor savings and loan association altus formerly known first southern federal savings and loan association earlier announced the signing letter intent make the acquisitions horizon financial and horizon funding both are units victor savings and loan association reuter 
earn	mars graphic services inc wmd qtr may shr cts cts net sales avg shrs reuter 
acq	marcade group inc mar buys europe craft marcade group said had agreed buy europe craft imports inc for combination cash and common stock the company said europe craft designs imports and distributes menswear and sportswear under the member only brand name the company said europe craft had sales mln dlrs last year marcade said this latest deal part ongoing acquisition phase reuter 
coffee	european coffee trade proposes new quota formula european coffee roasters and traders have agreed propose new formula for calculating international coffee organization ico quotas dutch coffee trade association chairman chairman frits van horick said van horick who council member the european coffee federation was speaking the end the ecf annual meeting the new formula based six year moving averages and would give brazil the world biggest coffee producer unchanged quota for the remaining two years the current coffee agreement van horick said accepted the consumer and producer members the ico the formula could also basis for negotiating new agreement van horick said coffee quotas were suspended february last year when prices shot fears drought induced crop disaster brazil although prices are now considerably lower consumers and producers have been unable agree introduction brazil has been the most strongly against any change the formula because feared lower quota but our proposal leaves very little object van horick said the existing quota system far too rigid and does not reflect supply and demand reality said our formula builds flexibility into the system and will benefit almost everyone although full implications the new formula have still worked out initial estimates suggest countries such colombia kenya indonesia and costa rica would get slightly higher quotas while others such the ivory coast salvador and nicaragua would lose quota share van horick said because the proposal provides that future quota distribution must reflect current demand and actual supply should also prevent under shipment quota countries doing would automatically prejudice their following year quota the ico consumers accept our proposal stands least fair chance being accepted the producers the september meeting most whom are generally favour new quota formula van horick said the same time much will depend brazil attitude brazil increasingly isolated the producer side there frost damage its coffee crop over the next two months and most other producers favour our proposal might just get agreement van horick added reuter 
acq	american communications nacs weighs sale north american communications corp said considering several options maximize shareholder value including possible sale merger corporate restructuring leveraged buyout trading the company stock was halted pending announcement the company which owns and operates cable television systems minnesota and wisconsin said retained communications equity associates its financial adviser explore alternatives reuter 
acq	murphy oil said proposing acquire remaining pct canadian subsidiary 
alum	alcan raises aluminum prices two cents alcan aluminum corp subsidiary alcan aluminium ltd said increased its primary aluminum prices two cents effective yesterday the new prices are cents for ingot and cents for extrusion billet the company said reuter 
acq	primerica completes smith barney takeover primerica corp said completed the previously announced acquisition smith barney inc for mln dlrs cash primerica ich changed its name april from american can said smith barney harris upham and inc wholly owned smith barney inc will add more than domestic and overseas branch offices reuter 
acq	king world kwp has financing for offer king world productions inc said will finance the repurchase its shares announced earlier today through cash hand and about mln dlrs bank borrowings for which has received commitments from first chicago corp fnb and bank new york the company today started tender offer for shares dlrs each and agreed buy more shares from members the king family and management who together own total mln shares all the shares being repurchased amount about pct king world stock reuter 
acq	murphy oil mur acquire canadian subsidiary murphy oil corp said its board proposed reorganization which would acquire the pct common shares its canadian subsidiary not owned the parent under the proposal which would undertaken court approved plan arrangement shareholders murphy oil ltd calgary alberta canada would offered the option receive dlrs canadian share cash the equivalent market value common shares the parent company reuter 
acq	investor sells pct rbi stake jeffrey neuman santa monica calif told the securities and exchange commission sold his entire industries inc stake shares pct the total outstanding neuman who transferred the stock nearly two years ago the tudor trust which trustee said the trust sold the entire stake private deal june dlrs share reuter 
acq	fortune fin forf unit makes acquisition fortune financial group inc said its fortune savings bank acquired financial security savings and loan association branch sunrise fla terms were not disclosed the new fortune savings bank office had about mln dlrs deposits june meanwhile acquisition marine savings and loan association florida with four offices naples fla awaiting regulatory approval reuter 
acq	group has pct american physicians amph group led far hills investors natalie and paul koether told the securities and exchange commission has acquired shares american physicians service group inc pct the total the koether group said bought the stock for mln dlrs for capital appreciation and may buy more the group also said paul koether met june with management representatives for talks that included the company business potential acquisitions for the company possible opportunities expand the company and the possibility koether being named its board the group did not say whether the talks resulted any agreements they have done several sec filings concerning other companies which they have had stake the koethers said they reserve the right take any actions which they deem appropriate maximize the value the shares but said they have current plans about taking any action while they may buy more american physicians shares the koethers also said they may decide sell some all the their stake the company reuter 
acq	barco directors approve buyout offer from senior management 
acq	irwin jacobs says holds less than five pct gillette 
earn	costco wholesale cost qtr may net oper shr two cts three cts oper net sales mln mln nine mths oper shr six cts eight cts oper net sales mln mln note oper data does not include extraordinary gains from tax loss carryforwards dlrs one per shr dlrs one per shr qtr and dlrs four cts per shr dlrs four cts per shr nine mths reuter 
cocoa	icco buffer stock manager buy tonnes cocoa monday june official 
acq	sithe raise energy factors efac stake sithe energies said has signed agreement under which will increase its interest energy factors inc pct from pct now investing mln dlrs energy factors stock reuter 
acq	barco brc board approves leveraged buyout bacro california said its board approved offer from its chairman kenneth donner and president michael donner purchase all the outstanding barco common shares dlrs per share leveraged transaction the donners currently own about pct the company outstanding shares barco said also said vice chairman david grutman and family members who own about pct barco shares have agreed sell their stock for the offering price reuter 
acq	irwin jacobs has gillette stake investor irwin jacobs said has investment gillette amounting less than five pct the consumer products company stock jacobs who made his comment response enquiry did not comment further yesterday gillette rebuffed takeover proposal from revlon inc under agreement between the two companies revlon must have the permission gillette board before making offer shareholders the board declined grant that permission gillette has been the topic takeover speculation for several weeks its stock has traded heavily and arbitragers said they believe jacobs may not the only investor who has sizeable position the company reuter 
earn	rapitech systems inc rpsy qtr loss april end shr losses not given net loss loss revs nine mths shr losses not given net loss loss revs reuter 
acq	vrbb closes stock sale acquisition business brokers inc said closed the sale controlling interest its comon and preferred stock acquisition corp delaware corporation controlled investment group led robin relph london under the agreement dated april business agreed sell shares common stock and shares pct cumulative stock business said issued shares common stock and shares preferred stock with the remaining shares common listed within the next week days reuter 
acq	microwave laboratories inc mwav qtr net april end shr cts eight cts net sales avg shrs year shr cts cts net sales avg shrs reuter 
lumber	world bank loans uganda mln dlrs the world bank said has loaned uganda mln dlrs through the international development association ida the bank concessionary lending affiliate the ida loan will support project that hopes preserve the country natural forests and meet its demand for wood products rehabilitating uganda forestry management agency the bank said also said the project plans increase the area and management protected forests establish pilot wood farms and nurseries and rehabilitate soft wood plantations reuter 
sugar	fairly hectic week raw sugar woodhouse says has been fairly hectic trading week raw sugar with china paying market levels for nearby shipments london trader woodhouse drake and carey said its weekly report july shipment thai raws traded china early the week fob levels equivalent points discount july new york futures said mid week saw these same sales covered the trade points discount enquiries for july sep raw sugars then filtered and here again traded values rose quickly from points premium new york july woodhouse said the western hemisphere both dominican republic and mexican nearby raws were bid points discount july new york and offered five points under but limited trading said all the action the past week has been the far east raws market whereas the whites market saw little fresh prospect nearby offtake whitehouse added reuter 
earn	passport travel inc ppti qtr may net shr profit six cts loss one net profit loss rev mln mln six months shr profit eight cts loss one net profit loss rev mln mln reuter 
earn	savoy industries inc savo qtr loss oper shr loss cts loss cts oper net loss loss sales mln mln avg shrs note operating loss excludes profit dlrs cts share from discontinued operations reuter 
trade	latin caribbean nations oppose trade bills group latin american and caribbean nations formally opposed trade legislation pending congress saying would curb their exports slow development and hinder its ability repay foreign debt mario rodriguez montero president organization american states special committee trade said was aware the large trade deficit but added the region should not the one affected the trade bills said the causes the deficit were the strong dollar and the budget deficit and regrettable solve trade bill that would only serve private interests rodriguez made the comment news conference after two days meetings with officials trade bills now congress that are designed reduce the trade deficit which last year hit record billion dlrs congressional observers say the bills are aimed mainly japan taiwan south korea and few other nations with large annual trade surpluses with the united states mexico brazil and venezuela are the only latin nations with large trade surpluses last year with the united states but even mexico with the largest had surplus only billion dlrs against japan billion dlrs the european community has also opposed the bills rodriguez said the latin and caribbean nations backed the reagan administration opposition many the sections the legislation including those curb imports and require retaliation for foreign unfair trade practices told reporters the committee would likely mount campaign fight the legislation when comes for debate the senate floor expected next week rodriguez said the region needs trade continue development hope this need will not affected negatively trade legislation rodriguez said need keep the market opens especially the market obtain the necessary foreign exchange not only service the debt but also continue national development progress president reagan has said would veto any legislation termed protectionist and his aides now are mounting effort water down some the objectionable provisions the legislation asked whether reagan was ready cast veto rodriguez said yet the administration not veto frame mind reuter 
acq	reed intl denies bid approach reed international plc reed denied rumours the stock market that was the target takeover bid and said had received approach view the increase our share price today want make clear that have not received any bid approaches reed chairman leslie carpenter said statement rumours that publisher harcourt brace jovanovich inc hbj might bid for reed paper and printing company pushed reed shares one stage today before they eased back the close against background widespread decline equity prices share market analysts said speculators were buying the stock belief that harcourt would bid for reed effort escape the unwelcome two billion dlr bid from robert maxwell british printing and communication corp bpcl such move would have made harcourt too big for bpcc take over analysts added they also said there was some speculation that bpcc bid for harcourt was unsuccessful could turn its attention reed reuter 
acq	applied data adcc buy dateline applied data communications said agreed acquire privately held dateline technology inc redmond wash for undisclosed amount cash and stock dateline technology designs and sells high capacity high speed computer peripheral subsystems primarily for data storage applied data said reuter 
acq	gulf and western ups interest network usa network today said has acquired time inc one third interest the network the network formerly joint venture between time gulf and western inc and mca inc mca said that gulf and western and mca who each previously held one third interest now will jointly own usa network basis terms were not disclosed usa network said usa network advertiser supported entertainment basic cable network reaching mln homes cable systems reuter 
acq	tektronix tek begins dutch auction tender tektronix inc said began its previously announced dutch auction cash tender offer for mln its own common shares under the terms the offer the company will select single cash purchase price for the stock based the number shares tendered not exceed dlrs per share lower than dlrs per share tektronix said the company also said does not intend spend more than mln dlrs for the shares tendered further stated that the tender offer expires july eight unless extended reuter 
acq	kay kay acquire specialty fastener firm kay corp said its balfour maclaine international ltd subsidiary signed letter intent acquire certain assets privately owned distributor specialty fasteners for about mln dlrs plus management incentives which did not disclose kay said the firm has annual sales about mln dlrs kay also said pursuing private placement debt securities for number corporate purposes reuter 
acq	new england critical care necc buys npo new england critical care inc said completed its purchase npo therapies inc salt lake city the company said that npo therapies president and founder kelly mutchie has joined new england critical care regional vice president covering the western united states npo therapies provides home infusion therapy services reuter 
coffee	colombia helpful but coffee quotas uncertain government trade official responsible for coffee policy said prospects for accord coffee quotas are still uncertain despite recent colombian efforts bridge differences between producers and consumers jon rosenbaum assistant trade representative just back from trade talks colombia said most producing countries now accept some sort standardized criteria must agreed reintroduce coffee quotas there one country which evidently still does not rosenbaum said obvious reference brazil which has been negative recently reintroduction quotas rosenbaum said because the stance brazil the outlook for agreement reintroduce coffee quotas the september international coffee organization meeting hard predict said that during the visit bogota held technical discussions with colombian officials while did not meet with jorge cardenas head the colombian coffee producers federation who was europe cardenas left positive letter rosenbaum said the cardenas letter responded letter last month which praised colombia for trying find compromise formula for the reintroduction quotas but outlined several concerns with the technical details the colombian plan rosenbaum could not reached later the day for comment new formula for calculating ico quotas agreed european coffee roasters and traders dutch coffee trade association chairman frits van horick said amsterdam the new formula based six year moving averages and would give brazil unchanged export quota for the remaining years the current coffee agreement the has said will not agree any coffee quotas unless objective criteria which reflect recent changes the coffee market are used set export limits reuter 
acq	dayton hudson said told buyer stock not interested being acquired 
acq	pacific basin acquire pct pacific basin development corp based vancouver british columbia said reached agreement buy pct pacific corp and its marketing arm for mln dlrs pacific also said expects earn three mln canadian dlrs for the year ended june and mln canadian dlrs for the year ended june former signetics corp unit assembles integrated circuits southeast asia and itself buying assembler pacific said expects earn over mln canadian dlrs per year when the acquisition completed reuter 
earn	andersen group inc andr qtr may may shr loss cts loss cts net loss loss revs mln mln avg shrs reuter 
acq	dayton hudson not interested acquisition dayton hudson corp letter employees said told aggressive buyer the company stock that does not want acquired dayton hudson spokeswoman would not identify the buyer but wall street sources said dart group corp darta was the company interested buying dayton hudson stock the wall street sources said the dart group expected soon file statement with the securities and exchange commission its accumulation dayton hudson stock according the letter company employess dayton hudson management has moved two directions fend off takeover according the letter chairman kenneth macke expressed the group buying its stock the company desire remain independent dayton hudson thursday night met with minnesota governor rudy perpich appealing for legislative help spokesman for governor perpich earlier said the governor expected later today recommend stiffening the state anti takeover law help the minneopolis retailer defend itself minnesota house speaker designate said the legislators would probably look language similar that contained indiana and new york law said any amendment proposed would probably designed thwart company from dismantling company for its own profit obviously dayton hudson people feel whatever statutes have would not protect them enough vanasek said reuter 
acq	barnett banks bbf files against federal board barnett banks inc and home federal bank florida said they filed suit against the federal home loan bank board and the federal savings and loan insurance corp the companies said the suit asks jacksonville fla federal district court enjoin the enforcement interpretive rule adopted the fhlbb last year which seeks give jurisdiction over barnett proposed acquisition home the suit says this rule arbitrary and capricious reuter 
money-supply	business loans fall mln dlrs june week fed says 
money-fx	business loans fell mln dlrs business loans the books major banks excluding acceptances fell mln dlrs billion the week ended june the federal reserve board said the fed said that business loans including acceptances fell mln dlrs billion dlrs reuter 
acq	judge rule monday burlington bur case manhattan federal court judge shirley wohl kram said she would rule monday whether grant request block dlr per share merger agreement between burlington industries inc and morgan stanely group inc the request bar the merger was made samjens acquisition corp partnership formed financier asher edelman and dominion textiles inc samjens has made hostile dlr per share takeover bid for burlington reuter 
acq	saur sells assets reed international saur the german based publisher databases and legal and bilbiographic reference material said has sold all its assets the butterworth group division reed international plc reed for under mln dlrs saur said klaus saur president and owner the company will remain president saur operations munich london and new york reuter 
earn	ael industries inc aelna first qtr net shr cts four cts net dlrs dlrs revs mln dlrs mln dlrs note the first quarter ended may reuter 
earn	national video inc nvis year net shr four cts nine cts net dlrs dlrs revs mln dlrs mln dlrs note the fiscal year ended march reuter 
acq	archer daniels adm denies rumor archer daniels midland denied report that interested acquiring international minerals and chemical corp igl have interest international minerals any its divisions spokesman told reuters had conversations with them usa today reported that archer daniels midland might seeking hostile takeover international minerals reuter 
earn	kaufel group ltd kgl qtr net shr cts cts net revs mln mln nine mths shr cts cts net revs mln mln avg shrs mln mln reuter 
acq	group cuts zondervan zond stake pct one several investor groups formerly associated with london investor christopher moran his unsuccessful bid take over zondervan corp last year said cut its stake the company less than five pct filing with the securities and exchange commission the group led investors lawrence altschul and james apostolakis said cut its zondervan stake shares pct the total from shares pct the group which earlier this month said sec filing wanted join with other groups maximize share values said sold shares between june and for mln dlrs the group had joined with the moran group which last year assembled combined pct stake zondervan during its unsuccessful takeover try last month the moran group broke and splintered into various factions moran himself withdrew from the takeover effort and last reported his personal stake pct group led miwok capital corp california broker with pct stake and another one led minneapolis stockbroker jeffrey wendel with pct have both made recent sec filings saying they are seeking agreements with other parties who may want seek control the company reuter 
acq	new leader coming sec challenging era president reagan nominee top policeman for the nation securities markets will inherit agency challenged insider trading scandal wild stock price gyrations and host uncertainties stemming from the globalization financial markets david ruder year old republican law professor northwestern university evanston ill was named thursday the chairman the five member securities and exchange commission confirmed the senate expected will succeed john shad who left the agency earlier this week after record six years chairman become ambassador the netherlands the sec has been the limelight for the past year its investigators have probed into the most colossal insider trading scandal ever uncovered wall street the investigation which still active mushroomed recent months growing number well known traders and prominent investment banking firms have been charged with wrongdoing the pace the probe picked markedly november after ivan boesky one wall street most successful stock speculators agreed cooperate with government investigators and pay record mln dlrs penalties and illegal profits after being charged with insider trading but the agency also wrestling with vexing new phenomenon huge and rapid swings stock prices spurred computer driven trading strategies that span markets securities options and futures the price gyrations have combined with rising trading volumes bring unprecedented volatility some securities markets the same time the sec being pressed some lawmakers put stop abusive tactics corporate takeover contests unrelenting wave such takeovers steadily reshapes the corporate landscape and the agency being pushed and foreign exchanges intent expansion lay the regulatory groundwork for international securities marketplace which trading occurs across borders throughout the world around the clock such worldwide trading networks offer vast new investment opportunities but could strain the sec ability enforce securities laws and guard investors from fraud under the leadership shad the sec eased financial disclosure requirements for publicly traded companies eliminated many minor investor protection rules attempted spur competition among exchanges and streamlined the agency review hostile corporate takeovers shad who had been vice chairman the hutton investment banking firm brought wall street perspective the agency upon being named chairman line with the views other top administration officials favored marketplace determination takeover battles over new federal regulations the sec under shad also stressed prosecution insider trading violations over the corporate wrongdoing cases that topped the agency enforcement agenda during the administration president jimmy carter democrat securities lawyers and industry officials acquainted with ruder say the new chairman designate unlikely significantly alter the commission current priorities the sec currently has about employees most them lawyers and annual budget about mln dlrs though that figure likely will significantly higher next year the agency moves beef its enforcement staff the agency one the few the government that actually has taken more money than has spent the past few years because fees charges public companies investment banks and other securities firms regulates the sec structured independent regulatory agency meaning that its five commissioners are appointed the president fixed five year terms and protected from firing for policy differences alone law more than three commissioners may the same political party and the agency prepares its own budget request each year instead leaving this the white house established congress the sec traces its origins the great stock market crash which was attributed large part widespread trading credit and attempted market manipulations large investment firms the agency requires public companies and investment vehicles such mutual funds issue periodic reports their financial condition and disclose changes their condition any time they issue new securities requires brokers dealers and investment banks register with and comply with investor protection rules and polices exchanges and regulates trading practices its first chairman was joseph kennedy industrial magnate who was also the father john kennedy later become the nation president other former chairmen include william douglas who served from until his appointment the supreme court and william casey who served during president nixon first term and was reagan director the central intelligence agency until his death earlier this year reuter 
trade	asks congress revise tariff categories the administration asked congress replace the tariff schedule with new system bring into line with international tariff categories trade representative clayton yeutter said the new system will add such items fiber optics and more accurately define new composites items not widely traded when the current schedule was devised some years ago yeutter said the harmonized system the new schedule called will change tariff categories and definitions meet the present day needs exporters and importers but they should pay about the same rates duties yeutter said american exporters will find far easier deal with one standardized worldwide system than the variety differing systems which they now face said the new system ended years multinational negotiations create the unified tariff schedule yeutter said government and business moves are based data from tariff schedules and the new system will improve knowledge trade flows and the quality decision making said nations pledged bring their standards under the new system with about half expected join the system january reuter 
acq	service resources src unit cuts sorg srg stake group led chas young subsidiary service resources corp said cut its stake sorg inc shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission young which yesterday withdrew its dlr share takeover proposal said its other group member sdi partners ltd partnership sold sorg common shares between june and dlrs each reuter 
earn	dwi corp dwic qtr march net shr profit nil loss two cts net profit loss revs nine mths shr loss nil loss five cts net loss loss revs reuter 
acq	firm has supreme equipment seqp stake towle and louis investment advisory firm told the securities and exchange commission has acquired shares supreme equipment and systems corp pct the total outstanding towle said bought the stock for investment purposes behalf its advisory clients reuter 
acq	sico sic buy reichold rci unit assets sico inc said agreed principle buy the assets reichold chemicals inc sterling group which manufactures electrical insulation compounds and industrial resins and develops coatings for the electronics industry terms were undisclosed sico said acquired sterling group canadian assets february said the acquisition adds about mln dlrs its annual sales volume reuter 
acq	investor group dumps silicon slcn stake group boston investors and investment partnerships told the securities and exchange commission sold its entire stake silicon systems inc shares pct the total outstanding the group which includes hlm associates hlm associates and their three general partners said sold the stock between april and june dlrs share the result investment decision reuter 
earn	shirmax fashions ltd shx qtr net qtr ended may oper shr three cts cts oper net revs mln mln note latest qtr exludes writeoff dlrs from store renovation reuter 
acq	group ups stake tandy brands tab pct group companies including chicago based coronet insurance and sunstates corp jacksonville fla real estate firm said raised its stake tandy brands inc shares pct the total filing with the securities and exchange commission the group said bought tandy common shares between may and june for dlrs addition the shares pct had held previously reuter 
acq	gateway gmsi recinds offer for westworld gateway medical systems inc said has withdrawn its may offer acquire westworld community healthcare inc the company said remains interested acquiring the westworld hospitals and will attempt continue negotiations with westworld reuter 
coffee	rio janeiro ibc estimates coffee crop mln bags 
earn	bower industries inc qtr net shr profit six cts loss cts net profit loss revs reuter 
acq	wpp group extending expiration its merger proposal jwt group until june 
acq	joe franklin and assets development merge privately held joe franklin productions inc said entered into preliminary agreement merge with assets development corp public company terms were not disclosed the companies said they expected the merged group qualify for listing nasdaq reuter 
nat-gas	tenneco become open access transporter natural gas 
acq	dart group declines comment dayton hudson dart group corp darta said has comment reports the company has been accumulating shares dayton hudson corp dayton hudson said letter shareholders told aggressive buyer its stock that does not want acquired wall street sources have identified the buyer dart which earlier this year was thwarted takeover attempt for the now privately held supermarkets general corp reuter 
earn	rise technology inc rtek qtr loss shr loss cts loss one net loss loss revs reuter 
acq	wpp group plc extends its offer for jwt jwt wpp group plc said extending its dlrs share offer for jwt group inc until midday june the company temporarily extended the offer june but did not give expiration date its dlrs share offer for jwt which has been rejected jwt expires july reuter 
nat-gas	tenneco tgt transport gas open access tenneco inc said tennessee gas pipeline its largest interstate natural gas pipeline will transport natural gas under the open access rules the federal energy regulatory commission ferc open access gas pipelines serve purely transport company moving gas from suppliers customers pipelines also transport its own gas customers earlier this week transco energy rejected the ferc guidelines saying would not offer open access until the regulatory body offers solution the exposure faces for gas has bought but could not sell the exposure faced the industry stems from take pay contracts under which pipelines bought gas long term contracts they could not sell the problem grew severe customers won cheaper sources gas because open access some industry analysts speculated earlier this week that tenneco might follow transco lead and close its pipelines open access because the take pay issue but tenneco today said open access one the steps ferc taking restructure the gas industry the ferc moving the industry through this restructuring now even before all transitional problems are solved spokesman said tenneco faces billion dlrs exposure under the take pay contracts but had specific figure for tennessee gas which runs miles pipelines from louisiana and texas new england remain convinced that the most critical transitional issue facing the industry take pay must resolved ferc the near future failure could have grave consequences for the industry continued ability provide its customers with reliable natural gas said tennessee gas transmission president thomas reuter 
acq	maxicare maxi ends plans sell unit maxicare health plans inc said ended negotiations sell maxicare alabama complete health inc the companies said last week they had reached agreement principle for complete health purchase the health maintenance organization the largest alabama maxicare said the terms would not the best interests the heatlh care providers who have built the alabama hmo said now intends work with its health care providers alabama further develop the hmo reuter 
earn	chiron corp chir qtr april loss shr loss cts loss cts net loss loss revs year shr loss cts loss cts net loss loss revs reuter 
earn	methode electronics inc meth qtr net qtr ended april shr nine cts cts net revs mln mln year shr cts cts net revs mln mln reuter 
gnp	economy slowdown raises recession fears the economy faces lackluster growth and the risk recession this year the recent improvement exports should falter economists say growth will slow sharply the next months due weakness the key housing and auto sectors and could further hampered unless consumer spending picks they say these factors raise the question there enough strength keep the economy from tipping into recession said lyle gramley chief economist the mortgage bankers association and former federal reserve board official the commerce department said this week that the economy grew robust pct annual rate the first quarter but monetary official called weak report housing starts fell pct may and consumer spending rose weak per cent our two largest visible industries autos and housing are faltering but exports are picking some the slack martin mauro senior economist for merrill lynch economics told reuters gramley said worried that consumer spending may slow because inflation rising faster than real wages offset this exports must continue rise returning enough jobs the manufacturing sector boost personal income and consumption says expect see enough improvement real net exports keep recession from happening but close call gramley said federal reserve board governor martha seger told reporters that the apparent strength the pct growth figure was the result temporary buildup inventories that will not last and said the recovery was showing anemia seger said that with the recovery stumbling along the pace the economy and the lack robustness must factored into monetary policy possibly signal that the fed will accommodative most economists predict growth slower than the pct forecast the reagan administration for and warn that the dollar drops suddenly higher inflation will result and add the risk recession mauro said pct rise industrial production may came despite cutbacks output the auto industry where inventory overhang still exists says the boost production came from smaller industries like paper chemicals and lumber which have improved sales overseas due the drop the dollar they are not going enough for any kind surge economic activity but think they will keep out recession mauro said speech financial planners this week beryl sprinkel the chief white house economic adviser predicted the trade deficit will continue improve prospects for continued economic growth through and into are still quite favorable said but private economists raise concerns about resurgence inflation allen sinai chief economist shearson lehman brothers inc told congress this week that inflation would rise five pct this year and stay that level through after pct increase the rise coming from sharply lower dollar higher oil and energy prices and rising prices for services said the lesson history that once the inflation genie gets out the bottle continues persist said adding would like the fed tighten credit major factor affecting inflation the value the dollar which should continue fall and feed inflation says prominent international banker rainer gut chairman credit suisse told the national press club that the dollar downward trend against the yen and the mark will continue for years because the united states the world largest debtor nation the swiss banker said the economic indicators point further slackening activity and called naive the belief that the five year boom world equity markets will forever very difficult optimistic gut said reuter 
coffee	brazil could export mln bags coffee ibc brazil coffee exports could amount mln bags this year because the excellent crop estimate mln bags ibc spokesman said said exports could surpass the average annual mln bags mark especially the final harvest conducted october and november confirms the crop over mln bags said the average limit errors for the official crop harvest could set five pct above below the first estimates officially published today said the ibc agreed with request producers for the institute ask the government for monthly indexation the guarantee minimum price reuter 
acq	investment partnership ups facet fct stake charter oak partners connecticut investment partnership said raised its stake facet enterprises inc shares pct the total outstanding common stock from shares pct filing with the securities and exchange commission charter oak said bought facet common shares june dlrs each reuter 
interest	uptrend remains intact for debt futures the six basis point rise the past month debt futures may extended next week series economic reports analysts said long the dollar holds firm interest rates have declined approximately basis points over the last month largely over indications that inflation not high people had feared and the narrowing trade balance nominal terms samuel kahan chief financial economist with kleinwort benson government securities said kahan said recent government reports have shown strength the economy during the first quarter but his concern whether the economy will sustain that strength the longer term weak economic growth could hurt the dollar which has become more important the direction debt futures than the beneficial impact interest rates sluggish economy the median trade expectations for tuesday consumer price index and durable goods reports are pct and down pct respectively meanwhile the eight billion dlr drop the money supply announced this week was surprising much larger than expected according kahan unless quickly reversed such trend will ensure that june growth will negative kahan said taken conjunction with and aggregates which kahan said have slowed crawl below federal reserve board annual targets the consequences could hint economic weakness down the road said based chart formations bond futures may poised for further gains although the advance has been slowed recently analysts said september bonds are almost six points since about may merrill lynch debt analyst jim duggan noted september bond futures climbed from the low month ago over mid june duggan said while follow through buying has aided the advance far and bouts short covering have prohibited slide through chart support the rally september bonds has been thwarted above the level the level formidable resistance and must taken out before this activity anything other than trading range market carroll mcentee and mcginley futures debt analyst brian singer said the dollar remains the key fundamental factor and the currency has made little headway late analysts said the critical variable remaining the market the value the dollar kahan said additional influences next week will possible developments ahead opec members meeting and the impact and size the budget deficit although these will not the forefront the market early next week kahan said looking ahead the treasury mini refunding auctions billion notes tuesday wednesday and thursday singer said the market will likely greet the results with little excitement however successful auction could prove turning point depending prevailing market psychology reuter 
interest	shanghai bank standard chartered bank raise prime point pct 
money-fx	venezuela probes alleged foreign exchange fraud banking authorities and police are investigating alleged fraud the second largest trading house the caracas free foreign exchange market finance minister manuel azpurua told reporters the superintendency banks and the technical and judicial police have both begun probes cambio guiara azpurua said friday night police said the owners the firm mario muggia and his brother luigi muggia have left venezuela cambio guiara operated part the parallel market which traders buy and sell dollars among themselves the venezuelan central bank june suspended the licences all foreign exchange operators the parallel market blaming their speculation for the constant rise the value the dollar here juan domingo cordero vice president the caracas stock exchange and the owner foreign exchange trading house said friday had begun legal action against cambio guiara for issuing him four checks without funds for total amount almost one mln dlrs the cambio guiara exchange house had operated venezuela for more than years reuter 
ship	kuwait says has full gulf arab support kuwait whose shipping has come under repeated attack iran has the full support saudi arabia and other gulf allies senior government official said cabinet spokesman abdul aziz otaibi quoted the kuwaiti news agency kuna yesterday said foreign minister sheikh sabah ahmed sabah had told cabinet had found complete support this delicate phase during visits gulf cooperation council gcc states the gcc economic and military alliance which has generally supported iraq over iran comprises bahrain kuwait oman qatar saudi arabia and the united arab emirates reuter 
crude	santos says has significant oil find santos ltd stos said had made significant oil discovery its mawson one well the moomba block the cooper basin south australia said the well flowed oil from sands average rate barrels per day from metres through choke santos said the well was cased and suspended pending further evaluation but said the proximity the discovery existing production facilities the gidgealpa south field would allow mawson one brought into production rapidly santos has pct stake the block delhi petroleum pty ltd has pct and south australian oil and gas corp pty ltd has pct reuter 
crude	far east traders expect dlr oil january opec agreement limit output mln barrels per day bpd for the rest the year should boost spot prices and enable the group raise its official reference price dlrs barrel january from the current dlrs far east oil industry sources said fundamentally the market situation bullish and the official price will dlrs january japanese refiner said the sources said that spite over production opec members such iraq the united arab emirates kuwait and qatar demand should exceed supply the fourth quarter spot oil prices surged friday late trading the market anticipated opec agreement second half output early tokyo trade levels were firm dlrs for mideast dubai cargoes loading next month and dlrs for brent traders said they said they expect more foreign crudes sucked into the market the benchmark crude west texas intermediate wti trades around dlrs with wti dlrs refiners will import mideast and far east crudes and this will strengthen those grades further said japanese oil trader some tokyo traders were cautious about whether thu spot market has further upward potential the short term having risen strongly the opec news friday you could certainly argue that new york rose that basis there reason for prices again today said one international oil trader tokyo but think there any sign dip will bought back again pretty quickly added one oil industry analyst concurred there reason expect weak market from now said expected opec raise prices dlrs when meets december oil sources said spot prices are unlikely surge strongly the next few months due cheating some opec members and the likelihood that saudi arabia will act swing producer maintain steady prices iraq currently producing around two mln barrels per day compared its second half quota mln they said its export capability will rise mln bpd when new pipeline through turkey comes onstream around september qatar said achieving sales around bpd against its opec assigned quota discounting cents barrel from official prices the sources said iran the united arab emirates and kuwait are also cheating the opec agreement with over production and effective price discounts through counter purchases industry sources said but they mostly agreed that saudi arabia will unofficially act swing producer cutting production compensate for higher output other members boosting output spot prices rise too high too fast saudi arabia has floating oil stockpile mln barrels saudi arabia wants oil price stability the stockpile may utilized cool down the market rises too much oil industry analyst said reuter 
cocoa	japan ratify international cocoa agreement japan will ratify the international cocoa agreement icca with effect from july and will renew its membership the international cocoa organisation icco foreign affairs ministry officials said they said japan would participate icco meeting july london revise icco buffer stock policy the icca has been effect since january government approval participate the icco was delayed parliamentary debate over the sales tax issue the officials said reuter 
acq	willis faber says making agreed mln stg bid for stewart wrightson 
crude	saudi oil company gets new acting governor the acting governor saudi arabia state owned oil company petromin jamal hassan jawa has retired his own request oil industry sources said they said ali ibrahim rubaishi head organisation planning petromin would take over acting governor jawa held the post since his predecessor abdul hadi taher left major oil industry shake last december the sources said rubaishi had not been expected hold the post permanently the government removed taher and oil minister ahmed zaki yamani from their posts late last year move which industry sources said was aimed coming grips with buyers oil market the two men had run the saudi oil industry for more than years industry sources said that despite huge resources saudi arabia had been unable mould oil marketing strategy tuned the competitive realities the glut hisham nazer who replaced yamani successfully led opec engineered return fixed oil prices dlrs barrel last december nazer believed reviewing saudi oil operations which could lead thorough overhaul the way saudi arabia does business the sources said the sources had said possible candidates for the governor job include prince abdul aziz ibn salman ibn abdul aziz who earlier ran research center saudi arabia university petroleum and minerals and former deputy planning minister faisal beshir they also list abdulla bakr president the university petroleum and minerals economist ali jonahi ahmed shinawi and zuheir masoud director jeddah islamic port reuter 
crude	uae oil minister oteiba visits egypt agency uae oil minister mana said oteiba arrived alexandria last night for visit egypt the national middle east news agency mena said said oteiba who had just attended the opec ministerial meeting vienna would stay for several days but gave details non opec egypt has pledged restrain output support opec moves boost oil prices oil minister abdel hadi kandeel last week said egypt plans leave its oil production barrels per day unchanged for the next five years egypt able produce one mln bpd reuter 
acq	willis faber bids for stewart wrightson willis faber plc wifl will make agreed mln stg offer for fellow insurance broker stewart wrightson plc joint statement said the offer would the basis three willis shares for every two stewart valuing each stewart share about willis already owns mln shares pct and has received acceptances from stewart directors for further shares full acceptance the offer would involve the issue mln new willis shares pct the enlarged total the companies said the proposed merger would bring together businesses that were largely complementary both believed the combination would permit more effective competition throughout the world and enahnce the service provided clients following the merger the two companies saw significant opportunities for growth brokerage income and considerable scope for improved operating efficiency willis shares were suspended friday when trading restarted they dropped sharply stewart wrightson shares rose gmt from suspension price reuter 
crude	norway extends pct oil output cut ministry norway will extend its pct cutback planned north sea oil output support opec from july until the end this year oil ministry spokesman egil helle told reuters took very positive view the opec meeting vienna said the accord reached there means stability the oil market and shall continue making our contribution the cuts originally brought from february would probably officially approved july parliament helle said the ministry had written norway oil companies and would now discuss with them how best implement the cuts opec agreed this weekend vienna output ceiling mln barrels per day bpd for the rest and retained the fixed prices that were set its december accord based dlr per barrel reference point opec first half output ceiling was mln bpd and december pact had provisionally set third quarter ceiling mln bpd rising mln the fourth quarter norway which pumps around one mln bpd from its offshore fields previously said would continue its output curbs from planned production for the rest the year opec remained within its december accord output and prices norway oil production rose pct average around bpd since then has risen around one mln bpd and expected reach about mln bpd the pct cut from planned production implemented since february reduced norway oil output about bpd norway oil minister arne oeien currently iceland for meeting nordic ministers has made official statement the latest oil production cutbacks over the past year several other leading non opec producers including the soviet union mexico china malaysia and egypt have also pledged support for opec bid keep prices stable norway decided the initial round cuts following opec agreement last december which boosted oil prices around dlrs per barrel from around dlrs last december norway relies oil for about pct its total export earnings and was hit hard the collapse the oil price during the first half but firmer oil prices since then have brought some stability the economy and helped narrow the foreign trade deficit norway north sea neighbour britain has consistently refused cooperate with opec output cuts saying the producing oil companies set the levels production reuter 
acq	brent buy lonrho division proposes rights brent walker group plc said had agreed buy the group companies comprising lonrho plc lrho metropole casino division together with freehold central london for mln stg payment will cash completion except for three mln stg payable december brent said also proposed raise about mln stg net through the issue mln convertible shares one stg each the shares can converted between and the rate four ordinary shares for every convertibles held full conversion the issued ordinary share capital the company would increase some pct birdcage walk ltd company controlled the walker family owns pct the shares and entitled mln convertible shares under the offer the trustees had indicated that intended sell enough the convertibles nil paid enable take the remainder brent would buy the casino companies and the freehold park lane london under the arrangements would also arrange for the repayment mln stg inter company debt brent walker shares firmed sharply the announcement from friday close while lonrho also firmed from reuter 
interest	bank japan determined keep easy money policy the bank japan bought billion yen certificates deposit cds via repurchase agreements today show its determination maintain easy money policy central bank officials said today buying operation was designed seek announcement effect which would reassure the market the fact that have not changed our policy stance senior central bank official told reuters the bank also bought billion yen two month commercial bills smooth out tight credit conditions the interbank market today the officials said the central bank was concerned about growing market expectations higher interest rates which were part responsible for the recent plunge stock and yen bond prices the officials said but money traders said the market generally shrugged off the bank operation because was small and rate far below prevailing market rates the rate the key three month cds the primary market was pct while the bank bid was pct they said the bank bill buying operation also had little impact because was regarded routine operation they said the money traders said they regarded the central bank buying operation simply gesture live japan pledge guide interest rates lower and stimulate the economy did not expect the central bank ease its credit grip any further bank manager said adding that the prevailing market expectation higher rates will remain this the case the three month rate will stay above four pct for the time being said reuter 
interest	bank japan sell billion yen bills the bank japan will tomorrow sell billion yen bills from its holdings help absorb projected money market surplus billion money market traders said the total billion yen will yield pct sales from money houses banks and securities houses day repurchase agreements maturing august the other billion yen will yield pct day repurchase accords maturing august the remaining billion yen will yield pct day repurchase agreements maturing august the repurchase agreement yields compare with the pct one month commercial bill discount rate today and pct two month bills they attributed the projected surplus mainly billion yen government tax allocations local governments and public bodies reuter 
cpi	german june cost living pct above year ago may rise pct official 
earn	ricoh ltd rict year ended march group shr yen net billion billion pretax billion billion operating billion billion sales billion billion note forecast for current year reuter 
interest	uae central bank yields unchanged yields certificates deposit cds issued today the united arab emirates central bank were unchanged from those last monday offer the bank said the one month yield was set last week pct while two and three month cds also remained unchanged pct the six month yield was set seven pct reuter 
veg-oil	presidency prepared drop oils and fats tax belgium current holder the european community presidency appears ready drop controversial oils and fats tax from this year hotly contested farm price package diplomats said discussion document prepared for today summit meeting leaders belgium proposed the called stabilising mechanism the subject further study and consultation with the community main trading partners the proposal for tax much ecus per tonne both imported and domestically produced vegetable and marine oils and fats has attracted storm international criticism the discussion document aimed preventing cash row the summit and breaking the deadlock this year farm price talks contained the first formal reference dropping the measure britain and denmark which assumes the presidency june have led the opposition the measure they are supported west germany and the netherlands and lesser extent spain although the paper was not universally welcomed diplomats said the proposal postpone consideration the tax for further six months was certain survive any redrafting reuter 
trade	bangladesh trade gap widen bangladesh trade gap expected widen fiscal beginning july after the government relaxed restrictions some imports including luxury cars the country has set its export target for the year billion dlrs against imports billion dlrs compared with one billion dlrs export earnings and billion dlrs imports commerce minister mohammad abdul munim said the changes were aimed encouraging export oriented industries boost foreign exchange earnings and imports essential machinery and raw materials increase industrial production the government was easing procedures enhance incentives especially for exporters textiles and frozen food and importers industrial machinery and raw materials munim told reporters commerce ministry officials told reuters the import policy covered only commercial imports amounting billion dlrs imports capital machinery and foodgrains the government were not included the policy they added they said the country total import bill both commercial and other imports was expected reach billion dlrs the new year compared with billion dlrs the minister said ending restrictions imports cars and dropping pct sales tax small cars would not harm the economy munim said bangladesh feared further drop prices for its main export jute which will certainly affect our export earnings the coming year bangladesh jute exports fell mln dlrs from mln according official figures but munim said exports non traditional items which accounted for over pct total exports this year would play key role achieving the export target reuter 
alum	china aluminium venture aims south korea china and australia victoria state signed joint venture contract for mln dlr aluminium processing plant china that will export south korea australian officials told journalists china has official direct trade government ties with seoul while maintains close links with north korea china international trust and investment corporation citic would have pct the equity bohai aluminium industries ltd the company build the rolling mill and extrusion plant the northeast china coast they said was china largest joint venture far they said joint venture opens the potential for penetrating markets that would not otherwise possible for china victoria state treasurer rob jolly said australian diplomat said citic was eager pursue south korean markets indirect trade between china and seoul growing but not officially publicised victoria aluvic ltd behalf the state government will hold pct equity stake the project which intended sister plant victoria portland aluminium smelter citic may agreed invest about mln dlrs portland the china based joint venture would process portland aluminium and aim sell aluminium products the domestic chinese market well for export jolly said the australian side investment was limited about mln dlrs but aluvic would have the right appoint key managers said australian officials said they hoped the goodwill generated their participation would lead further citic investment victoria the chinese group enjoys high level independence from peking central government and has extensive overseas investments reuter 
interest	bank france cuts intervention rate pct from pct official 
trade	remain divided over pasta dispute top level talks last week between the european community and the united states failed resolve dispute over pasta which may provoke new trade frictions next month diplomatic sources said the insists the complies with what regards unambiguous ruling from the world trade body gatt and dismantles export subsidy system which has led italy taking increasing share the pasta market the sources said the which currently provides subsidies around cents pound offered compromise last week talks brussels but that this was rejected the assistant special trade representative jim murphy has returned washington ahead theoretical july deadline for agreement set last august when the two sides resolved related dispute over restrictions citrus imports the diplomatic sources said the citrus issue could reopened the pasta dispute was not solved quickly was also possible the would reimpose pct tariff pasta lifted when the citrus row was settled but the two sides may agree extend the deadline for few days commissioners willy clercq and frans andriessen are due visit washington from july reuter 
interest	bank france cuts seven day repurchase rate eight pct from pct official 
veg-oil	farm ministers meet tomorrow after summit european community agriculture ministers will meet tomorrow evening after the end two day summit meeting heads government again attempt agree farm price package commission spokesman said added that tomorrow official journal will contain notice special agricultural measures purely technical nature which will come into effect july unless the ministers reach accord the spokesman declined detail these special measures but said they would not the sort dynamic moves which farm commissioner frans andriessen has said would take the case complete deadlock among farm ministers these moves would taken only tomorrow meeting ministers brussels again fails reach accord sources said andriessen thought prepared cut cereals prices seven pct and take other drastic action trade sources said farm ministers ended their last meeting june still split over the commission proposal for tax vegetable and marine oils and fats addition west germany said would veto plans for cereal price cuts and for change the green currency system earlier today diplomats said belgium the current holder the european community presidency appears ready drop the plans for the controversial oils and fats tax reuter 
crude	extracts from opec communique following are extracts from the communique issued the conclusion the opec conference here the conference expressed satisfaction about the positive results the agreement signed december which opec established the system fixed price level dlrs per barrel supported opec production ceilings distributed into national production levels the conference noted that all market indicators including spot prices the market and netback values all opec crudes have been firming significantly thus consolidating the opec price structure defined the agreement the conference examined the supply demand outlook for the second half the year and decided that order secure continued firm prices the market opec production during the fourth quarter will equal that the third quarter mln barrels per day bpd distributed into the same national production levels were defined the above mentioned agreement for that quarter furthermore the conference decided establish committee five heads delegation monitor the price evolution the market relation the opec official prices order secure price stability around the opec price structure should there any significant change market prices the committee would immediately call for extraordinary meeting the conference with view deciding the necessary opec production levels during the second half the year which would secure the desired market stability the conference reiterated the necessity member countries strict adherence the agreement signed december both terms official price and national production levels for this purpose the conference decided establish committee three heads delegation undertake visits member countries order motivate them comply with the terms the agreement moreover the conference stressed the necessity the cooperation the oil producing exporting countries outside opec essential prerequisite for lasting market stability the conference therefore decided reinstate the group five heads delegation established the extraordinary meeting the conference april undertake the necessary contacts with those countries the conference observed the continued fall the value the dollar and agreed that the matter should studied and reported the next meeting the conference the conference discussed the appointment the secretary general and decided discuss the matter again its next ordinary meeting the conference extended the term office fadhil chalabi deputy secretary general for period one year from october the next ordinary meeting the conference will convened vienna december reuter 
interest	poehl speaks against german interest rate cut bundesbank president karl otto poehl said west germany would badly advised lower interest rates and that believed the economy would continue recover after six month lull asked the newspaper bild sonntag lower interest rates could boost the domestic economy poehl said would badly advised forced further interest rate cuts this could under certain circumstances release new inflationary fears which would then more likely lead higher interest rates added poehl said germany had practically growth the past six months because the mark surge and the cold winter but since april statistics clearly show that the economy finds itself course growth said expect this development continue the coming months asked about his expectations european community trade war poehl said such event would disastrous for this reason europe must avoid everything used protectionist forces the pretexts added this includes eliminating existing restrictions the far possible protectionism not found only the reuter 
crude	kuwait sees opec output over ceiling end year opec output for the second half including that iraq will above the official mln barrels per day bpd output ceiling agreed opec saturday kuwait oil minister sheikh ali khalifa sabah said iraq refused sign the pact which opec maintained its ceiling mln bpd for both the third and fourth quarters december opec set provisional fourth quarter level mln bpd now cut back the third quarter target ali told news conference that including iraq opec third quarter output will between and mln bpd while fourth quarter output will nearly mln bpd ali did not detail what effect thought these production levels would have prices iraq has official first half quota mln bpd rising mln the second half but has refused adhere and has recently been producing around two mln barrels per day exporting through pipelines saudi arabia and turkey iraq export capacity will further boosted when bpd oil pipeline via turkey comes stream about september iraq has been insisting quota equal its gulf war enemy iran which has quota mln bpd rising mln the second half ali said the position the bpd production from the neutral zone between saudi arabia and kuwait which has been supplied iraq war relief crude was fixed will not discuss there will not any change said ali said the conference which began thursday and ended saturday evening had been too short for all necessary problems adressed are overdoing holding too short meeting sweep lot under the carpet said ali said the problem price differentials between the prices various opec crudes had not been dealt with properly the meeting ali said the problem differentials real one would hate producing today light crude and that problem has not been dealt with properly light crudes are overpriced relative heavy crudes asked the issue differentials would raised the next opec meeting held vienna december ali said crudes are affected will raise the issue will not the work another minister kuwait own crudes range from medium heavy grades opec reintroduced fixed prices february with spread dlrs barrel between its lightest and heaviest crudes reuter 
crude	iraq rejects new opec oil quota iraq has rejected its new opec production quota set vienna for the second half this year the official iraqi news agency ina reported quoted oil minister issam abdul rahim chalabi who returned sunday saying iraq will continue adhere its position considering itself not included the agreement last december iraq rejected its assigned first half quota mln bpd and demanded share equal the mln bpd quota set for iran its enemy the nearly seven year old gulf war the accord reached opec ministers vienna saturday set output ceiling mln bpd for the group members from july december raising iraq share mln bpd and iran mln reuter 
earn	fraser and neave ltd frnm half march shr cents cents int div six cents same group net mln dlrs mln turnover mln note div pay aug register july says expects results for the second half year similar those the first half reuter 
earn	mitsui real estate development ltd mrea year ended march group shr yen net billion billion current billion billion operating billion billion sales billion billion note the company said the pct increase group current profit from year earlier was mainly due drop two billion yen interest payments reuter 
bop	german may current account surplus billion marks april surplus billion official 
trade	german may trade surplus billion marks april surplus billion official 
earn	tata iron and steel pre tax falls pct year march share rupees pre tax profit mln rupees billion net profit mln billion sales billion billion dividend pct same tax mln mln note full company name tata iron and steel ltd tata dividend payable shareholders aug reuter 
acq	kraft kra completes buy quaker oat unit kraft inc said has completed the previously announced acquisition the anderson clayton foods division from quaker oats for mln dlrs cash reuter 
cpi	french inflation confirmed pct may french retail prices rose confirmed pct may compared with pct rise april and pct may last year the national statistics institute insee said the rise took the year year inflation rate pct may from pct april and brought cumulative inflation over the first five months this year pct compared with pct for the same period reuter 
acq	martin processing said accepts dlrs share bid from courtaulds plc 
acq	frontier frtr buys malpractice business frontier insurance group inc said acquired the malpractice book business generated medical quadrangle inc and medical professional liability agency ltd producer medical malpractice coverage said the acquisition will enable all frontier medical malpractice coverage serviced internally reuter 
earn	helene curtis industries inc qtr net period end may shr profit four cts loss cts net profit loss revs mln mln reuter 
earn	groupe videotron ltee vdo nine mths net period ended may shr cts cts net mln mln revs mln mln avg shrs mln mln reuter 
earn	inter tel inc intla qtr may oper net oper shr three cts one oper net revs avg shrs six mths oper shr five cts two cts oper net revs mln mln avg shrs note earnings exclude gain from utilization tax loss carryforwards dlrs one share the quarter and dlrs two cts share for the six months reuter 
acq	new generation products makes acquisition new generation products inc said has acquired pct ownership personal protection technolgies inc new generation said personal protection developing group personal care products which are effective killing variety viruses and bacteria contact for and export markets reuter 
earn	town and country jewelry tnc first qtr net shr cts cts net dlrs dlrs revs mln dlrs mln dlrs note first quarter ended may the company full name town and country jewelry manufacturing corp reuter 
earn	data architects inc dai qtr may net shr cts cts net dlrs dlrs revs mln dlrs mln dlrs six mths shr cts cts net dlrs dlrs revs mln dlrs mln dlrs reuter 
acq	martin processing mpi accepts courtaulds bid martin processing inc said its board approved agreement acquired courtaulds plc cou for dlrs share the company said the transaction valued more than mln dlrs based its shares stock outstanding said courtaulds has privately agreed purchase majority martin common from trusts established julius hermes for dlrs share said courtaulds intends conduct tender offer for all the martin stock does not own beginning soon necessary documents are prepared reuter 
earn	lifetime corp lft year march net shr cts net mln dlrs revs mln dlrs note the company said year ago figures are not comparable due its reverse merger last year reuter 
earn	university genetics ugen qtr loss shr loss two cts loss four cts net loss dlrs loss dlrs revs dlrs dlrs nine mths shr loss cts loss cts net loss dlrs loss dlrs revs mln dlrs dlrs note the third quarter ended april reuter 
cpi	annual inflation falls may the european community annual inflation rate fell marginally pct may from pct april the statistics office eurostat said prices the nation bloc rose pct may after pct april but the annual rate stayed below that the for the second month succession following the release figures showing inflation pct both april and may however eurostat said the was still beaten japan where prices were provisionally pct lower may than year earlier reuter 
acq	bsn bsn has purchased macgregor mgs stock bsn corp said purchased macgregor sporting goods common stock recent open market transactions bsn said its position less than the five pct ownership which would require specific disclosure the company will continually review its position and may nelect increase decrease the number shares owned added reuter 
earn	telecommunications network tnii year net shr cts cts net dlrs dlrs revs mln dlrs mln dlrs note the year ended march reuter 
earn	hovnanian enterprises hov qtr may net shr cts cts net revs mln mln avg shrs reuter 
trade	armistice eludes and spaghetti war talks between the european community and the united states have failed settle trade dispute over pasta commission spokesman said diplomatic sources said the dispute could provoke new trade friction unless was settled soon washington insisting that the comply with what regards unambiguous ruling from the world trade body gatt and cut export subsidies which have allowed italy take increasing share the pasta market the provides subsidies about cents pound pasta exports the spokeswoman said the talks foundered the question how much the subsidy should cut reuter 
acq	utilicorp ucu unit buys stake power plant utilicorp united inc said its utilco group subsidiary completed the purchase pct interest westwood energy properties limited partnership for about mln dlrs the company said the partership building and will operate megawatt electric generation facility schuykill county penn scheduled begin commercial operation july said the pct interest was sold westwood funding corp wholly owned subsidiary combustion engineering inc csp westwood funding retains interest the partership and serves general partner said reuter 
gas	exxon xon extends mid grade unleaded marketing exxon said extending marketing its mid grade unleaded gasoline exxon plus into the houston and dallas fort worth metropolitan areas beginning early next month exxon corp domestic subsidiary already marketing the octane unleaded gasoline along much the east coast introduces the third unleaded grade exxon noted longer offers leaded gasoline the market except some rural areas where leaded gaosline will made available distributors who have substantial need for the product serve customers whose equipment was designed for leaded fuel reuter 
acq	coradian cdin stake acquired sage coradian corp said group led privately held sage equities group agreed buy pct interest coradian connection with the agreement the company said sold shares cts share said that addition common stock sage equities will receive warrants exercisable dlrs share reuter 
earn	sikes corp ska qtr may net shr cts cts shr diluted cts cts net sales mln mln note share results reflect two for one stock split paid july eight reuter 
earn	inter tel inc intla qtr may net shr four cts one net rev mln mln avg shares six months shr seven cts two cts net rev mln mln avg shares note qtr includes extraordinary gain dlrs one share while six months net includes gain two cts share reuter 
acq	entertainment marketing demands crazy eddie shareholder list may pursue merger 
acq	datacard datc adopts dividend rights plan datacard corp said adopted dividend rights plan response deluxe check printers inc dlx having agreed sell its pct interest datacard national computer systems inc nlcs datacard declared dividend distribution one preferred stock purchase right each outstanding share its common stock the dividend designed deter national computer other potential suitors from preventing datacard from evaluating all alternatives maximize shareholder value datacard said national computer told reuters june could make bid for datacard june datacard filed suit hennepin county district court minnesota block the sale the pct stake its stock national computer announcing the rights plan datacard said not designed deter takeovers that would consistent with the objective maximizing stockholders value all datacard stockholders the rights will not become exercisable until days after announcement that person group has acquired beneficial ownership pct more datacard common stock once exercisable each right would entitle holder buy share datacard series junior participation preferred stock for dlrs holders other than acquirer would entitled purchase for six months after the right becomes exercisable number shares the new preferred stock with market value equal twice the exercise price the rights the rights dividend distribution payable july shareholders record july reuter 
earn	sheldahl inc shel qtr may net shr cts one cent net revs mln mln nine mths shr cts seven cts net revs mln mln note per share figures adjusted for three for two stock split paid april reuter 
acq	federal resources fdrc acquires retailer federal resources corp said has acquired the capital stock and related real estate assets new generation inc regional consumer electronics specialty retailer terms the acquisition were not disclosed new generation has annual sales volume about mln dlrs federal resources said federal resources said will search for additional acquisitions including but not limited specialty retailers reuter 
acq	entertainment may seek crazy eddie crzy enetertainment marketing inc and its president elias zinn have demanded list crazy eddie inc shareholders from the company and said they may pursue merger the edison electronics retailer filing with the securities and exchange commission zinn said the demand for the shareholder list was made june because may desire communicate with other crazy eddie shareholders regarding the affairs the company zinn and his firm which disclosed they hold pct stake crazy eddie common stock said they may acquire more shares through negotiated merger tender offer entertainment marketing was informed june shearson lehman brothers inc acting behalf crazy eddie that would provided with certain information about crazy eddie told the sec entertainment marketing houston based firm involved electronics wholesaling and televised home shopping sales proposed eight dlr share merger acquisition crazy eddie may and modified the proposal june include the possible participation crazy eddie management entertainment marketing told the sec expects meet with crazy eddie representatives the near future entertainment marketing also disclosed that retained drexel burnham lambert inc its financial advisor and investment banker light june announcement from crazy eddie that chemical bank would longer fund mln dlr credit facility with the company plus further declines the price its stock entertainment marketing and zinn said they are continuing evaluate their alternatives with respect their investment crazy eddie stock depending its evaluation the company including actions crazy eddie board and any possible third party bids for the company entertainment marketing and its president said they may hold their present stake the company sell some their shares purchase more shares the open market through private purchases connection with merger tender offer according the sec filing entertainment marketing and zinn bought their current holdings crazy eddie common shares between may and june dlrs dlrs share total about mln dlrs reuter 
acq	cyclops cyl merger approved cyclops corp said shareholders approved previously announced merger the company with subsidiary dixons group plc said dixons held about pct cyclops stock following tender offer and other purchases earlier the year with the completion the transaction dixons will proceed pay dlrs share the remaining cyclops shareholders reuter 
zinc	amax zinc raises dyecast alloy prices amax zinc division amax inc said increasing the price dyecast alloys three and five three cents effective immediately dyecast alloy three now cents while alloy five now cents the company said reuter 
acq	vernitron vrn sets new record date vernitron corp said has set new record date july for shareholders entitled vote the proposed merger vernitron with holding corp the original record date was may vernitron said that currently expects the special shareholder meeting concerning the merger will held august following its tender offer november holding holds pct vernitron maker electromechanical components and related products and services reuter 
acq	energas egas buy texas american tae unit energas said has agreed principle purchase western kentucky gas from texas american energy corp for mln dlrs cash plus assumptrion certain liabilities western kentucky gas distribution company which serves about customers towns and communities kentucky reuter 
acq	gibraltar gfc buy thrift for mln dlrs gibraltar financial corp said its gibraltar savings unit has agreed principle buy first federal savings and loan ridgecrest for about mln dlrs cash the company said the actual price will determined the close based net book value may said first federal located kearn county northeast los angeles and has assets mln dlrs said the transaction subject definitive agreement shareholder and regulatory approval reuter 
acq	winley buys land from holdings inc mdc winley home builders inc said completed land purchase agreement with holdings inc mdc for dlrs notes and preferred stock the company said bought lots colorado from richmond homes ltd unit return for dlrs promissory notes and dlrs preferred stock the company said has option convert winley preferred stock into pct winley common year reuter 
earn	star classics inc scls qtr march net shr three cts two cts net rev avg shrs reuter 
acq	gabelli firms have pct stake digiorgio corp may seek control 
earn	cleopatra kohlique inc cleo year net year ended march shr three cts cts net revs mln mln reuter 
acq	interstate bakeries ibc buys mexican food firm interstate bakeries corp said its royal american foods subsidiary agreed buy the assets landshire food products inc new mexico based producer packaged mexican food products terms the proposed transaction were not disclosed reuter 
earn	federated group inc fegp qtr loss period ended may shr loss eight cts profit six cts net loss profit sales mln mln reuter 
acq	gabelli firms hold digiorgio dig stake group firms led gabelli group inc told government regulators holds pct stake digiorgio corp common stock and said two partnerships making part the group may seek control the company filing with the securities and exchange comission the group firms said holds shares digiorgio common stock the total shares are held gamco investors inc and gabelli funds inc for investment purposes the group said gabelli rosenthal and partners and and partners which hold the remaining digiorgio common shares told the sec their purpose ultimately obtain control digiorgio contingent upon approval digiorgio according the sec filing previously reported gabelli and inc acting investment advisor group including gabelli rosenthal proposed june acquire all digiorgio common shares for per share price dlrs cash subordinated note with face value eight dlrs pct redeemable preferred stock and one common share the post buyout company the june buyout proposal which remains open until july also provides that key members digiorgio management and some its directors would invited remain with the firm and participate the group acquiring the company the proposal also subject due diligence review execution merger agreement arrangement financing and receipt government approvals all which gabelli and said could completed within days between april and june the entire group led gabelli group inc made net purchases digiorgio common shares dlrs dlrs share reuter 
acq	unicoa merge into its united insurance unit unicoa corp said agreed merger with its wholly owned subsidiary united insurance america under the agreement each outstanding share unicoa common stock will converted into one share united common stock the agreement subject shareholder and regulatory approval teledyne inc tdy owns about pct unicoa outstanding shares shareholder meeting expected held august reuter 
earn	hovnanian enterprises inc hov qtr earnings may end shr cts cts net revs mln mln avg shrs note first quarter report reuter 
acq	fed approves citicorp purchase some assets sears calif thrift 
acq	health properties hrp buy properties health and rehabilitation properties trust said reached understanding purchase three nursing facilities mass and conn for mln dlrs from greenery rehabilitation group inc grgi the buildings will leased back greenery for initial term seven years subject renewal options for additional years health and rehabilitation properties said the transaction expected close before august reuter 
acq	bsn bsn buys stake macgregor mgs bsn corp said holds less than five pct macgregor sporting goods the company said the stock was acquired through recent open market purchases and the stake does not require specific disclosure reuter 
acq	vernitron vrn sets record date for merger vote vernitron corp said has set new record date for shareholders entitled vote the proposed merger vernitron corp with holding corp for july vernitron which manufactures electromechanical components and related products and services said expects that special meeting shareholders will held august vernitron said that holding holds pct vernitron resulting from tender offer november reuter 
acq	fed allows citicorp cci sears thrift deal the federal reserve board said approved citicorp application purchase through its subsidiary citicorp savings oakland calif some assets and assume some liabilities sears savings bank glendale calif citicorp savings proposed assume two billion dlrs deposits and other liabilities and purchase billion dlrs assets branch offices sears savings the proposal involved less than one third the assets and liabilities sears savings owned sears roebuck and the fed said that generally has determined there were potentially adverse effects allowing affiliations banks and savings and loan associations although has allowed bank holding companies acquire some failing thrifts said citicorp proposal properly may viewed the permissible acquisition certain assets and liabilities and branches rather than the acquisition and citicorp savings the successor the failed fidelity savings and loan association has assets billion dlrs and operates branches california mainly the north sears savings has billion assets and branches predominantly southern california the application which was approved unanimously will not eliminate sears savings competitor the fed said reuter 
acq	icn icn buys stake from eastman kodak icn pharmaceuticals inc said purchased the remaining shares viratek inc vira owned eastman kodak owned part previously announced program the company said paid kodak dlrs share mln dlrs previously announced icn also said authorized the additional purchase mln shares viratek common date icn said bought total about mln shares viratek including the shares purchased from kodak the company said now owns pct viratek result these transactions reuter 
earn	rite aid corp rad qtr may oper shr cts cts oper net mln mln revs mln mln note quarter net excludes gain mln dlrs dlrs share for discontinued operations reuter 
acq	maxtor corp mxtr buys private firm maxtor corp said bought privately held storage dimensions inc for undisclosed sum the company said storage dimensions incorporates maxtor high capacity inch winchester and optical disk drives into family data storage subsystems for ibm pcs xts ats and compatibles storage dimensions the creator speedstor software utility program that integrates high capacity disk drives into pcs maxtor said the purchase reflects its desire compete the high capacity segment the market reuter 
earn	super rite foods inc srfi qtr may shr cts seven cts net revs mln mln reuter 
acq	sec charges campeau allied stores with disclosure violations recent takeover 
acq	group may support cardis corp cds buyout group companies controlled brookehill partners inc told government authorities may support buyout cardis corp way maximize the value the company stock filing with the securities and exchange commission the group disclosed that currently holds pct stake cardis common stock and said would likely support acquisition the company whole parts another party terming such move the most likely means for the company shareholders maximize the value their investment although the group characterized its cardis stock holdings principally for investment said intends contact third parties who might interested acquisition cardis los angeles based auto parts distributor the group added its has already had some contacts with others concerning the company but said understandings have been reached the cardis common shares continue offer opportunity for price appreciation the basis the company asset value and earnings momentum the brookehill group told the sec the group which currently holds cardis common shares consists new york based brookehill partners and its two subsidiaries brookehill equities inc brokerage and moore grossman and derose inc investment advisor walter grossmman edward moore and robert derose all new york each own one third interests brookehill partners since april members the brookehill group made net purchases cardis common shares approximately dlrs share the group told the sec may continue purchase additional cardis stock but also reserved the right sell its shares the company reuter 
acq	caremark cmrk vote baxter bax merger caremark inc and baxter travenol laboratories inc jointly announced that caremark shareholders will vote july approve the previously announced merger with baxter the companies said caremark shareholders record june will entitled vote the meeting held newport beach calif pdt may baxter and carmark announced definitive agreement for baxter acquire carmark stock transaction valued mln dlrs reuter 
acq	sec says campeau unit violated disclosure rules the securities and exchange commission charged allied stores corp with failing promptly disclose key steps was taking last september thwart takeover attempt campeau corp administrative complaint the sec said allied and its legal adviser failed promptly inform shareholders and the agency that had begun talks with youngstown ohio shopping center developer edward debartolo response campeau takeover offer campeau acquired allied for estimated billion dlrs jan following battle with debartolo sept day after allied disclosed that its board had urged rejection campeau sept tender offer for dlrs share allied began negotiating the sale six shopping centers debartolo the sec said allied legal advisor and director george kern who heads the merger and acquisitions group the new york law firm sullivan and cromwell decided against amending allied sec filing disclose the talks even though they had resulted sales price mln dlrs for the shopping centers said securities law requires takeover target companies promptly disclose such things the sale major assets the day after campeau increased its tender offer pct allied stock from pct and raised its bid dlrs share from dlrs sept allied and partnership headed debartolo began negotiating takeover deal aimed thwarting campeau the sec said kern again decided against disclosing the talks amended sec filing the agency charged allied first disclosure the debartolo takeover was made oct even though its board approved the merger oct and the merger agreement was executed oct the complaint said debartolo and campeau later engaged bitter battle for control allied with campeau winning out later october when bought block mln shares allied stock pct the total controversial move made only minutes after dropped its hostile tender offer the acquisition the additional pct which federal judge allowed completed gave campeau majority stake allied campeau bought the rest dlrs share the sec said had planned file court brief joining with allied charging that campeau had engaged illegal tender offer but the sec brief was never filed since the case was dropped following agreement between campeau and debartolo the administrative proceeding against allied and kern the sec asking for administrative order that they comply with reporting provisions securities laws the future although allied longer publicly traded since became subsidiary campeau still files annual and quarterly reports the sec because has outstanding debt reuter 
earn	great country bank gcbk year may net shr cts net dlrs dlrs year shr dlrs net four mln dlrs mln dlrs assets mln dlrs mln dlrs deposits mln dlrs mln dlrs loans mln dlrs mln dlrs note the company does not give per share earnings converted from mutual savings bank stock savings bank january reuter 
acq	allied signal ald completes unit sales allied signal inc said completed the sale seven businesses its electronics and instrumentation sector for billion dlrs cash and debt assumed the purchasers the company said last december its would sell the units mid did not identify the buyers the company said the proceeds will used reduce debt continue the company share buyback program and increase strategic investments its core businesses and other corporate purposes said the units sold were ampex corp amphenol prodcuts linotype group neptune international mpb corp revere corp and sigma instruments inc reuter 
acq	cycare cycr buys control data cad unit cycare systems inc information processing systems company said purchased the assets control data corp medtec unit for undisclosed terms medtec provider patient accounting and scheduling systems for large scale group medical practices reuter 
acq	becor bcw adjourn delayed holders meeting becor western inc said business will transacted the shareholders meeting scheduled for cdt tomorrow and the meeting will permanently adjourned definitive agreement transaction results from any the offers now pending for the company stock becor said date for new shareholders meeting will established reuter 
acq	universal communication ucs sell assets universal communication systems inc said has tentatively agreed sell substantially all its assets for about mln dlrs cash and notes plus limited profit participation the company said the terms the sale have been approved its board and prime motor inns inc pdq owner about pct universal outstanding stock described the purchaser subsidiary company the communications field which one the largest corporations the company said the transaction involves the payment mln dlrs cash non interest bearing payment mln dlrs four equal instalments over four years and two promissory notes guaranteed affiliate the purchaser said mln dlr pct note payable four equal instalments over four years said mln dlr pct note due dec includes participation the profits the acquiring company universdal said the profit element can terminated with payments the purchaser either five mln dlrs six mln dlrs seven mln dlrs eight mln dlrs reuter 
acq	union uel ends pact sell canbra cbf union enterprises ltd said its agreement sell its interest canbra foods ltd macluan capital corp has been terminated union said macluan failed make offer for union pct interest canbra before the june deadline union said longer bound the agreement and continuing seek buyer for the interest reuter 
acq	ssmc ssm buy cutters exchange division ssmc inc said has executed letter understanding acquire the parts catalog division cutters exchange inc for undisclosed amount ssmc spun off from the singer smf year ago said that the parts catalog division wholesales parts and needles the industrial sewing trade the under the agreement key managers and employees the parts catalog division nashville tenn will relocate the ssmc facility murfreesboro ssmc said reuter 
interest	end netherlands antilles tax treaty the treasury department said notified the netherlands that was terminating the income tax treaty applies the netherlands antilles and aruba the termination effective january the treasury said two sentence announcement the treasury decided end the treaty after negotiations between the united states and the netherlands over the past eight years had failed reach accord treasury spokesman said the decision means the sale parent companies eurobonds through netherlands antilles subsidiaries will longer free the pct withholding tax the spokesman said terminating the tax treaty with the netherlands antilles may cause bond issuers call the bonds early most have maturities years less and were issued before the spokesman said said the treasury did not expect the action have adverse effect issuers the bonds because the general decline interest rates means they will able refinance lower interest rates however the holders the bonds presumably will faced with lower yields reuter 
acq	carolco pictures crc orbis agreement carolco pictures inc said signed letter intent exchange mln its shares for all orbis communications inc stock within the next days said the carolco shares used the exchange are valued dlrs share total value mln dlrs and will adjusted based the price carolco shares the closing date said orbis management will remain place for least three years reuter 
copper	cipec studying copper market backwardation the paris based intergovernmental council copper exporting countries cipec closely studying the current backwardation world copper market prices but does not envisage taking corrective action present cipec sources here said the organisation executive and marketing committees reviewed the current market situation during series meetings here late last week but took major decisions the sources noted that the backwardation premium nearby supply over forward delivery dates back several weeks and the longest record unusual one official said but added cipec did not have any immediate recipe remedy the situation the meetings featured gathering the directors cipec regional copper development and promotion centres which are based europe japan india and brazil their main aim was prepare the ground for the annual ministerial meeting cipec which scheduled for zaire late september the last three ministerial meetings have been held paris keep down costs reuter 
earn	canadian home shopping cws qtr loss shr loss cts net loss revs mln note full name canadian home shopping network ltd period ended april was company first quarter operations reuter 
copper	outokumpu copper deal with iberica del cobre finland state owned mining company outokumpu said statement was entering spanish markets shareholder iberica del cobre manufacturer copper products outokumpu will acquire pct the shares the spanish company and company will set agent for outokumpu spain the deal awaits approval the spanish government iberica del cobre makes tubes rods rolled and drawn copper and alloy products and its sales tonnes output amounted billion pesetas outokumpu turnover was billion markka reuter 
earn	concord fabrics inc cis qtr oper net period ended may oper shr cts cts oper net sales mln mln nine mths oper shr dlrs dlrs oper net sales mln mln note period ended june one note earnings exclude gain disposal discontinued operations dlrs nine cts share loss dlrs cts share the quarter and gain dlrs cts share loss dlrs cts share for the nine months earnings exclude losses from discontinued operations dlrs six cts share the quarter and dlrs cts share for the nine months reuter 
earn	general public utilities gpu five mths net period ended may shr dlrs dlrs net revs billion billion note full name general public utilities corp reuter 
earn	comtrex systems corp comx year loss year ended march shr loss three cts profit cts net loss profit sales avg shrs reuter 
acq	seton sel directors approve merger agreement seton said its board directors unanimously approved agreement and plan merger providing for the merger seton with unit acquisition corp new jersey company seton said its board directors unanimously approved the merger meeting held today seton said the agreement and plan merger provides that all shares seton common stock not held acquisition corp its units will converted upon the merger into the right receive dlrs per share cash reuter 
acq	giorgio dig evaluate gabelli offer giorgio corp said plans respond unsolicited recapitalization plan proposed gabelli and inc after the company its board and its investment bankers evaluate the proposal earlier gabelli said filing with the securities and exchange commission that holds pct stake digiorgio and that together with gamco investors inc may seek control the company addition june the gabelli group proposed acquire all giorgio common shares for combination dlrs per share cash subordinated note with face value eight dlrs and one common share the post buyout company the june buyout proposal remains open until july reuter 
gold	gunnar gold ggg venture agreement gunnar gold inc said and mill city gold inc signed option and joint venture agreement with tyranex gold inc the tyranite gold property ontario gunnar said and mill city can earn pct interest tyranex option buy the tyranite gold mine spending five mln dlrs exploration development and feasibility studies said the companies may form joint venture partnership bring the mine full commercial production reuter 
earn	data architects inc dai qtr may net shr cts cts net revs six mths shr cts cts net revs mln mln reuter 
coffee	dauster says consumers should keep