إعادة الاثنين، ١٨ ديسمبر ١٩٩٥

British Media Get New Ownership Rules

Date: 18 December 1995

Reuters

Britain's media industry appeared to be heading for a possible shake-up of ownership after the publication of new proposals on Friday aimed at increasing cross-holdings between the television and newspaper sectors. The National Heritage Secretary, Virginia Bottomley, said the new Broadcasting Bill, which should take effect by the start of 1997, would prompt British companies to consider mergers between newspaper and television companies.

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NEWS SUMMARY

Date: 19 December 1995

International A3-14

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News Summary

Date: 18 December 1995

International A3-11

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COMPANY NEWS;INTEL SIGNS LICENSING AGREEMENT WITH PHOENIX

Date: 19 December 1995

AP

The Intel Corporation signed a seven-year licensing agreement yesterday with Phoenix Technologies Ltd., a maker of software that runs key start-up operations of a personal computer, and agreed to buy about $11 million of Phoenix stock. The arrangement, which is expected to be worth at least $20 million but could be worth much more, depending on shipment volumes over the seven years, allows Intel to use Phoenix software on motherboards, the main circuit boards for PC's, that it sells to manufacturers. Intel, the largest maker of microprocessors that run PC's, is becoming a leading maker of motherboards as well. The agreement was announced after the stock market closed.

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COMPANY NEWS;GLENDALE FEDERAL TO SELL MORTGAGE HOLDINGS

Date: 19 December 1995

Reuters

Glendale Federal Bank, one of the nation's largest savings institutions, said yesterday that it would sell its entire holdings of collateralized mortgage obligations and record an after-tax loss of about $30 million. C.M.O.'s are complex securities that are tailor-made for investors using simpler mortgage pass-through securities -- for example, those issued by the Government National Mortgage Association. The sale was part of Glendale's plan to shift its focus to community banking, a spokesman said. Glendale said it had sold about half of its C.M.O. holdings and would record the entire loss in its fiscal second quarter, which ends on Dec. 31.

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COMPANY NEWS;MARINE MIDLAND TO ACQUIRE RIVER BANK BRANCHES

Date: 19 December 1995

Dow Jones

Dow Jones

Marine Midland Bank, a unit of HSBC Holdings P.L.C. in London, agreed yesterday to buy bank branches, loans and deposits from struggling River Bank America for $93 million. The deal would give Marine Midland, based in Buffalo, 11 branches in New York City that River Bank operates as East River Savings Bank. River Bank, based in New Rochelle, N.Y., recently shed assets and laid off employees to recover from several years of losses and bad loans. Marine Midland would get $1.2 billion in deposits and $1.5 billion in loans. Marine Midland has $19 billion in assets and 320 branches in New York.

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COMPANY NEWS;SCHWAB STOCK FALLS ON LOWER EARNINGS ESTIMATE

Date: 19 December 1995

Dow Jones

Dow Jones

The shares of the Charles Schwab Corporation dropped more than 13 percent yesterday after the company released estimates of earnings for the fourth quarter and the year that fell short of Wall Street expectations. The San Francisco-based discount broker said it expected to earn 22 cents to 25 cents a share in the fourth quarter and 95 cents to 98 cents for 1995. A survey of nine analysts yielded estimates of 26 cents a share for the fourth quarter and 99 cents for the year, according to First Call Inc., a firm that tracks earnings forecasts. Schwab posted 1994 earnings of 19 cents a share in the fourth quarter and 77 cents for the year. Schwab shares slid $2.625, to $17, in New York Stock Exchange trading.

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COMPANY NEWS;TANDY TO BUY BACK SHARES AND INCREASE DIVIDEND

Date: 19 December 1995

Dow Jones

Dow Jones

The Tandy Corporation said yesterday that its board had authorized the company to buy back as many as five million shares on the open market. The consumer-electronics retailer also raised its quarterly dividend to 20 cents a share from 18 cents. The company said it would pay the first 20-cent dividend on Jan. 23, 1996, to shareholders of record on Jan. 1. Separately, Tandy said it had named Leonard H. Roberts president, effective Jan. 1. He is now president of Tandy's Radio Shack unit. Tandy shares rose 37.5 cents, to $37.625, on the New York Stock Exchange. Tandy, based in Fort Worth, has 6,800 Radio Shack and 99 Computer City stores.

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COMPANY NEWS;JAMES RIVER SHARES DROP ON EARNINGS FORECAST

Date: 19 December 1995

Bloomberg Business News

Bloomberg News

The shares of the James River Corporation of Virginia plunged 18 percent yesterday after it said fourth-quarter earnings would fall below analysts' expectations of 43 cents a share because of weaker demand, lower prices and reduced production. Shares were down $6.125, to $25.25, in New York Stock Exchange trading of 1.8 million shares. Richmond-based James River, the maker of Dixie cups and Brawny paper towels, also said it would sell its plastic-packaging and inks businesses as part of a plan to reduce long-term debt by about $500 million.

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COMPANY NEWS;TRINOVA PLANS TO BUY CINCINNATI MILACRON UNIT

Date: 19 December 1995

AP

The Trinova Corporation plans to acquire Cincinnati Milacron Inc.'s electronic systems division for $105 million in cash, the companies said yesterday. The deal included a long-term supply agreement under which the division would supply electronic controls to Cincinnati Milacron for seven years. The division, which expects to have sales of about $90 million this year, designs and makes computer hardware and software for factory automation. Trinova, which makes and distributes engineered components for industry, is based in Maumee, Ohio, and had 1994 sales of $1.8 billion.

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