China Press Now Lacks Tea Leaves
Date: 27 February 1997
By Seth Faison
Seth Faison
Beijing's major newspapers carry front pages with identical layouts of Deng Xiaoping's funeral; newspapers have given extensive coverage to Deng's death, but there have been few articles about China's political transition; photo (M)
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Journalists Prepare to Take On Serb President
Date: 27 February 1997
By Jane Perlez
Jane Perlez
Belgrade's once-independent TV station, neutered four years ago by Serbian Pres Slobodan Milosevic, has returned to control of reporters and editors with installation of opposition forces in municipal Government (M)
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VISHAY OFFERS TO ACQUIRE GENERAL INSTRUMENT DIVISION
Date: 26 February 1997
By Bloomberg News
Bloomberg News
Vishay Intertechnology Inc. said yesterday that it had made a bid for the semiconductor division of the General Instrument Corporation, becoming the second company to seek the division. Neither General Instrument nor Vishay, an electrical component maker in Malvern, Pa., would disclose the bid price. The division has sales of about $360 million. General Instrument is also talking to Taiwan's Liton Group about selling the semiconductor division.
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ENERGY COMPANIES DECLINE TO COMMENT ON SALE REPORT
Date: 26 February 1997
By Bloomberg News
Bloomberg News
The Ultramar Diamond Shamrock Corporation and Total S.A. declined to comment yesterday on a report that they were in talks on a sale of Total's North American unit. The report in The Wall Street Journal said Ultramar, a refiner and owner of gas stations and convenience stores, was expected to pay $400 million and assume $430 million in debt to buy Total Petroleum (North America) Ltd., which is based in Denver. Ultramar, of Greenwich, Conn., said it would not comment on speculation. Total S.A. of France said it was considering merging its United States refining business with another company.
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EXXON STOCK TO SPLIT 2 FOR 1 AFTER 33% RISE IN 13 MONTHS
Date: 27 February 1997
By Bloomberg News
Bloomberg News
Exxon Corp will split its stock 2 for 1 effective March 14, with new shares distributed beginning on April 11; Exxon's price per share has risen 33 percent in last 13 months (S)
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MERCK SETS $5 BILLION STOCK REPURCHASE
Date: 26 February 1997
By Bloomberg News
Bloomberg News
Merck & Company said yesterday that it would buy back as much as $5 billion of its stock on the open market. Merck, a leading drug maker, said it was completing a $3 billion buyback program announced in November 1995. Through Dec. 31, Merck spent $2.1 billion to buy 33 million shares under that program. The latest program was announced as Merck shares traded near their record of $99.875, reached on Feb. 13. The shares closed yesterday at $97.75, down 62.5 cents. Merck, based in Whitehouse Station, N.J., said it was also raising its quarterly dividend to 42 cents a share from 40 cents.
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CPC TO SPIN OFF ITS CORN-REFINING OPERATIONS
Date: 27 February 1997
By Bloomberg News
Bloomberg News
CPC International Inc will spin off its corn-refining business and focus on its food brands; terms of spinoff to shareholders are not disclosed (S)
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CARGILL TO SELL LIQUID-FEED UNIT TO E D & F MAN GROUP
Date: 27 February 1997
By Bloomberg News
Bloomberg News
Cargill Inc agrees to sell a unit that makes molasses-based liquid animal feed to E D & F Man Group PLC for $48.5 million (S)
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PHILIP MORRIS TO SPLIT STOCK 3 FOR 1 AND BUY BACK SHARES
Date: 27 February 1997
By Bloomberg News
Bloomberg News
Philip Morris Companies to split its stock 3 for 1 and buy back $8 billion in shares over next three years (S)
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VW Says Income Doubled Last Year
Date: 26 February 1997
By Bloomberg News
Bloomberg News
Volkswagen A.G. said yesterday in a preliminary report that its net income surged to 678 million marks ($401 million) in 1996, more than double the 336 million marks posted in 1995. Sales rose to 100.1 billion marks, compared with 88.1 billion marks a year earlier.
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