Το 27 Ιουλίου 1995 ήταν Πέμπτη κάτω από το σύμβολο του αστεριού του ♌. Ήταν η 207 ημέρα του χρόνου. Πρόεδρος των Ηνωμένων Πολιτειών ήταν ο William J. (Bill) Clinton.
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27th of July 1995 News
Ειδήσεις όπως εμφανίστηκαν στην πρώτη σελίδα των New York Times στο 27 Ιουλίου 1995
F.C.C. Set to Give Murdoch Waiver in Ownership Case
Date: 27 July 1995
By Edmund L. Andrews
Edmund Andrews
The Federal Communications Commission is about to give Rupert Murdoch's News Corporation an exemption from the commission's foreign ownership restrictions, a move that will formally end a two-year legal battle over the television stations at the heart of the company's Fox television network. The decision, to be approved by the commission on Friday, will eliminate the one remaining uncertainty about the ability of the Australia-based News Corporation to retain control of the 12 stations that it owns or is in the process of acquiring.
Full Article
Paper Told to Pay $678,000 in Singapore Suit
Date: 27 July 1995
By By Philip Shenon
Philip Shenon
In the latest assault on Western news organizations by the authoritarian Government of Singapore, the Supreme Court there ordered The International Herald Tribune today to pay libel damages of $678,000 to the country's top three leaders. Judge Goh Joon Seng told the Paris-based newspaper to pay Prime Minister Goh Chok Tong the equivalent of about $250,000, and to pay former Prime Minister Lee Kuan Yew and his son, Deputy Prime Minister Lee Hsien Loong, the equivalent of about $214,000 each.
Full Article
NEW OFFER IS MADE FOR WOODWARD & LOTHROP
Date: 28 July 1995
By Bloomberg News
Bloomberg News
The May Department Stores Company and the J. C. Penney Company filed a bid yesterday in bankruptcy court for Woodward & Lothrop Inc., the Washington-based retailer that has been operating under Chapter 11 protection since January 1994. May and Penney said the offer would produce $409 million for Woodward & Lothrop creditors, which is $58 million more than a bid made by a group led by Federated Department Stores Inc. and Strawbridge & Clothier. The new bid calls for May, which is based in St. Louis, to acquire 13 John Wanamaker stores in the Philadelphia area and 3 Woodward & Lothrop stores in Washington. Penney, based in Plano, Tex., would acquire 7 Woodward stores in the Baltimore-Washington area.
Full Article
DEFINITIVE AGREEMENT REACHED FOR AMERICAN MAIZE
Date: 27 July 1995
By Bloomberg News
Bloomberg News
The American Maize-Products Company said yesterday that it had reached a definitive agreement to be bought by Eridania Beghin-Say, a subsidiary of Montedison S.p.A. of Milan, Italy, for $430 million. The companies signed a letter of intent for the sale of American Maize, a tobacco and corn products company, earlier this month, but then said the agreement was incomplete. The announcement came a day after American Maize, based in Stamford, Conn., received an unsolicited bid of $225 million for its tobacco unit from Usaha Tegas, a closely held Malaysian company. Under the terms of the deal, Eridania, Europe's largest starch maker, will buy all the shares of American Maize's controlling shareholder, the GIH Corporation, a trust of the Ziegler family, for $40 a share. Eridania also agreed to sell 88 percent of American Maize's tobacco business for $165 million to William Ziegler 3d.
Full Article
RYDER SYSTEM PLANNING TO ELIMINATE 1,700 JOBS
Date: 28 July 1995
By Bloomberg News
Bloomberg News
Ryder System Inc., the Miami-based transportation services company, is planning to eliminate 1,700 jobs in the next several months as part of a plan to concentrate on its logistics division. The company said that more than half the workers would be dismissed and that some of the remaining employees would be transferred to the company's logistics unit, which manages the shipment of everything from raw materials to finished goods. The announcement was made after the close of trading on Wednesday; shares of Ryder rose 37.5 cents yesterday, to $24.125, on the New York Stock Exchange. Ryder has eliminated 30 percent of its nondriver work force in its auto division and plans to close all but one or two of the 20 administrative centers in its consumer truck-rental unit.
Full Article
MELLON TO ACQUIRE MET LIFE BANKING SUBSIDIARY
Date: 27 July 1995
By Bloomberg News
Bloomberg News
The Mellon Bank Corporation said yesterday that it would buy the Metropolitan Life Insurance Company's residential and commercial banking subsidiary for undisclosed terms. Analysts have said the Met Life subsidiary could fetch between $182 million and $228 million. Under the definitive agreement, the Mellon Mortgage Company, an arm of Pittsburgh-based Mellon Bank, would buy Met Life's Metmor Financial Inc. As of March 31, Metmor managed more than $13 billion in mortgage loans for Metropolitan Life, which is the second-largest life insurer in the country. Metmor, which is based in Overland Park, Kan., arranged $1.3 billion in mortgage loans last year.
Full Article
GPA GROUP TO SELL SECURITIES TO RAISE $1.7 BILLION
Date: 28 July 1995
By Bloomberg News
Bloomberg News
GPA Group P.L.C. of Ireland said yesterday that it planned to raise about $1.7 billion to pay off creditors by selling securities backed by leases on about 220 of its aircraft. The transaction, which could take place as early as the fourth quarter, would be the largest aircraft lease-backed sale ever, said Philip Baggaley, a transportation analyst at the Standard & Poor's Corporation. GPA, a leading airplane-leasing company, said it planned to use proceeds from its sale to refinance part of its $2.5 billion bank debt and other senior secured debt. The company was saved from bankruptcy by a restructuring in 1993 under which the GE Capital Corporation, a unit of the General Electric Corporation, acquired as much as 80 percent ownership of the company.
Full Article
7 Radio Stations to be Sold
Date: 27 July 1995
By Bloomberg News
Bloomberg News
Patterson Broadcasting Inc. said today that it would buy seven Michigan radio stations from Liggett Broadcast Inc. of Lansing, Mich. The purchase would increase Patterson's radio network to 16 stations across the country. Both Patterson and Liggett are privately held.
Full Article
International Briefs; Merger of Plastic Units
Date: 27 July 1995
By Bloomberg News
Bloomberg News
Courtaulds P.L.C. and Hoechst A.G. agreed yesterday to merge their polypropylene businesses in a move that would create the largest producer of plastic for film and vehicle parts in Europe. Hoechst, Germany's largest chemical maker, would hold more than two-thirds of the shares in the joint venture, creating a company with combined annual revenues of $419 million. Hoechst and Courtaulds are the third- and fourth-largest polypropylene producers in Europe.
Full Article
Italy's Stet Goes On Big Board
Date: 28 July 1995
By Bloomberg News
Bloomberg News
Stet S.p.A., Italy's state-controlled telecommunications company, started trading its shares yesterday on the New York Stock Exchange in the largest international listing for the Big Board this year. The move was a significant step for the Italian Government's holding company, Istituto per la Ricostruzione Industriale, which plans to sell its remaining 64 percent stake in Stet by the end of the year.
Full Article