Editors discuss their frustrations in the age of refrigerator-magnet journalism.
Date: 14 April 1997
By Iver Peterson
Iver Peterson
Journalists attending annual meeting of American Society of Newspaper Editors discuss changing role of editor; editors complain that they now spend hours soothing feelings of angry readers and advertisers, rather than nurturing bright young reportorial talent; say that instead of standing up for independence of editorial process, they must wrangle with marketing directors who seek more 'reader friendly' stories (M)
Full Article
Raids Are Reported At Japanese Firms
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Japanese news organizations are reporting that regulators have searched offices of three big Japanese securities houses; reports are latest sign the scandal at Nomura Securities could affect rest of brokerage industry; investigators are looking for evidence that Daiwa Securities, Yamaichi Securities and Nikko Securities funneled profits to Ryuichi Koike, corporate racketeer named in Nomura scandal (S)
Full Article
China Trade: Gingrich Asks Shorter Rein
Date: 14 April 1997
By Bloomberg News
Bloomberg News
House Speaker Newt Gingrich says he favors extending China's 'most favored nation' trading status for just six months, instead of usual year, in bid to protect political rights in Hong Kong after Chinese takeover, television interview; says even six-month extension faces opposition in Congress; Rep Dick Armey, House majority leader, predicts close vote on extension, television interview (S)
Full Article
GREAT UNIVERSAL BUYS SECOND U.S. DIRECT MARKETER
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Great Universal Stores PLC buys Direct Marketing Technology Inc for up to $298.7 million in cash and assumed debt, its second recent acquisition in US information-marketing industry (S)
Full Article
Donaldson, Lufkin Posts 32.7% Gain In Earnings
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Donaldson, Lufkin & Jenrette Inc says earnings rose 32.7 percent in first quarter; earnings rose to $86.4 million from $65.1 million in 1996 first quarter; revenue after interest expenses rose 27 percent, to $760 million from $600.9 million a year earlier; table (M)
Full Article
RAYTHEON CO. (RTN, N)
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Raytheon Co says earnings in first quarter fell 1.7 percent; net income fell to $183.4 million compared with $186.5 million a year earlier; revenue rose nearly 4 percent, to $2.9 billion from $2.79 billion; table (S)
Full Article
Hanson Electrical Sold For $219.8 Million
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Hanson PLC sells its electrical equipment business to Cinven for $203.5 million in cash and $16.3 million loan note that pays 5 percent interest and is due in 2006 (S)
Full Article
Japanese to Continue Policy of Low Rates
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Bank of Japan's governor Yasuo Matsushita says central bank will maintain its low interest rate policy; to help the economy, central bank has kept its discount rate at low of five-tenths of 1 percent (S)
Full Article
Daimler to Acquire 25% of Ballard Power
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Daimler-Benz AG of Germany will pay equivalent of $141 million in cash and technology for 25 percent of Ballard Power Systems Inc of Canada (S)
Full Article
In First Quarter, Travelers Reports Increase in Income
Date: 15 April 1997
By Bloomberg News
Bloomberg News
Travelers Group Inc reports 23 percent increase in net income for first quarter, and 31 percent gain in operating earnings; net income rose to $642.1 million, compared to $520.2 million gain a year earlier; earnings climbed to $633.2 million from $479.6 million a year earlier; at Smith Barney unit, earnings rose to $238.9 million from $223.9 million; table (M)
Full Article