Hit Film Helps News Corp. Post 7% Increase in Operating Profit
Date: 12 November 1996
By Bloomberg News
Bloomberg News
News Corp says its first-quarter revenues rose 6.7 percent, to $2.47 billion, from year ago quarter; says net earnings of $222 million were down from $227 million, but that 1995 quarter included gain of $17 million from abnormal items, and most recent quarter included loss of $2 million; excluding those items, operating income rose to $224 million (M)
Full Article
Envirodyne Shares Soar on Lawsuit Victory
Date: 12 November 1996
By Bloomberg News
Bloomberg News
Shares of Envirodyne Industries rise 34 percent after company says it has won $102 million in damages in patent lawsuit over plastic films used for meat packaging; judgment was against American National Can Co (S)
Full Article
SYLVAN LEARNING ACQUIRES MINORITY STAKE IN JOSTENS
Date: 12 November 1996
By Bloomberg News
Bloomberg News
Sylvan Learning Systems Inc says it acquired 19 percent interest in Jostens Learning Corp from Bain Capital Inc; price not disclosed (S)
Full Article
STRIKES CAUSE G.M. TO CUT 4TH-QUARTER PRODUCTION
Date: 12 November 1996
By Bloomberg News
Bloomberg News
General Motors Corp cuts its planned fourth-quarter production of cars and trucks 11 percent because of strikes in Canada and United States that temporarily shut down assembly plants, costing GM $666 million (S)
Full Article
LEON BLACK TEAM ACQUIRES PARKING LOT COMPANY
Date: 12 November 1996
By Bloomberg News
Bloomberg News
Leon Black, head of Apollo Advisors LP, teams with Aldrich Eastman Waltch to buy Allright Parking Corp; terms not disclosed; Allright is owned by Hang Lung Group; selling price is thought to be about $250 million in cash and debt (S)
Full Article
Stocks Lower in Japan
Date: 11 November 1996
By Bloomberg News
Bloomberg News
Stocks trade lower in Japan on Nov 11; Nikkei index of 225 issues is down 135.96 points, at 21,065.08 (S)
Full Article
I.B.M. Sales Unit For New Offering
Date: 12 November 1996
By Bloomberg News
Bloomberg News
International Business Machines Corp says it has formed new unit to sell its stripped-down personal computers (S)
Full Article
Superfast Computer Introduced by Cray
Date: 12 November 1996
By Bloomberg News
Bloomberg News
Cray Research unit of Silicon Graphics Inc introduces new supercomputer capable of performing trillion calculations a second, fastest commercially available system in the world; new Cray T3E-900 is first so-caled teraflop system on the market; Intel Corp and other companies have plans to build similar machines; prices in United States will start at $500,000 (S)
Full Article
Loral Venture in China Satellite Phone Deal
Date: 12 November 1996
By Bloomberg News
Bloomberg News
Globalstar Telecommunications Ltd says it has agreement with Chinese Government to provide satellite-telephone service starting in 1998; Globalstar is building $2.5 billion system of 48 satellites to provide telephone service worldwide; by 2002, Chinese project will represent 8 percent of Globalstar's revenue; it expects to have more than 200,000 subscribers in China; Globalstar is joint venture led by Loral (S)
Full Article
Texaco Seeks to Settle; Stock Up
Date: 12 November 1996
By Bloomberg News
Bloomberg News
Shares of Texaco Inc rise 1.4 percent after company seeks to settle racial discrimination lawsuit filed by six employees; shareholders say any move to settle controversy is positive factor for company (S)
Full Article