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Date: 14 October 1995
By William Glaberson
William Glaberson
The Daily News is considering closing or revamping its four-month-old Spanish-language newspaper, citing its weak circulation, the News's co-publisher said yesterday. The paper, El Daily News, has been plagued by delivery problems, and has not broken readers' loyalties to the 82-year-old Spanish paper in New York, El Diario-La Prensa.
Date: 14 October 1995
By Edmund L. Andrews
Edmund Andrews
The Federal Communications Commission is about to send John C. Malone's vision for a big new satellite television service crashing back to earth. In a major setback for Tele-Communications Inc., the Denver-based cable television giant which Mr. Malone controls, Federal regulators have decided not to give the company a much-prized license that it thought it had secured more than a year ago to launch a direct-to-home television satellite.
Date: 14 October 1995
A Federal appeals court in Ohio said yesterday that it would hear oral arguments on Dec. 6 on a request from the McGraw-Hill Companies that the court stay an order prohibiting Business Week from publishing material from sealed court documents. Business Week published the information in its issue that appeared on Oct. 6, so the restraining order no longer has any effect. Legally, however, the Oct. 3 order remains on the books and McGraw-Hill wants the order vacated so that a precedent will not be established in the Federal courts.
Date: 14 October 1995
By Bloomberg News
Bloomberg News
The Kevlin Corporation tentatively agreed yesterday to be acquired by an undisclosed British company for $4.68 a share in cash, or $16.38 million. Kevlin said it accepted the offer because it was more than the Kaydon Corporation had offered. Kaydon, a maker of auto parts based in Clearwater, Fla., had offered to buy Kevlin for $4.50 a share, or $15.75 million. Kaydon said it ended talks with Kevlin after the higher offer was made. Company officials were not immediately available for comment. Shares of Kevlin, based in Wilmington, Mass., rose 25 cents, to $4.25, in Nasdaq trading yesterday.
Date: 14 October 1995
By Bloomberg News
Bloomberg News
Shares of Sybase Inc. rose yesterday after the software company's executives told investors that they expected a coming product to sell well in the next few quarters. The rise occurred even though the company said late on Thursday that its third-quarter net income had fallen 95 percent, far more than Wall Street expected. But the company's executives said that a coming product, System 11, would fix shortcomings of the company's chief product and that they expected revenue growth to accelerate after the first quarter of next year, analysts who listened to a conference call said. Shares of Sybase, a software company based in Emeryville, Calif., were up $1.875, to $34, in Nasdaq trading of 9.1 million shares yesterday.
Date: 14 October 1995
By Bloomberg News
Bloomberg News
The Syms Corporation said late yesterday that it was abandoning plans to buy back the company's stock. The company had previously announced that stockholders holding a majority of the shares proposed to buy the shares at $8.75 each. The stock of the company, an off-price apparel retail chain based in Secaucus, N.J., closed unchanged yesterday at $9.
Date: 14 October 1995
By Bloomberg News
Bloomberg News
The shares of the Potash Corporation of Saskatchewan rose yesterday after the company announced a new export contract with China. The contract was signed between Sinochem, China's centralized buying agency, and Canpotex Ltd., the offshore sales agency for Saskatchewan potash producers. Potash is a compound that is used to make fertilizer. In New York yesterday, the stock rose $3.625, to $69.875. Potash, based in Saskatoon, Saskatchewan, said the new contract called for the sale of as much as one million pounds of potash at $6.50 a metric ton more than the previous contract price. The potash will be delivered between now and the end of March, the company said.
Date: 14 October 1995
By Bloomberg News
Bloomberg News
The Prudential Insurance Company of America has changed the way it pays agents to sell some new policies, a move that analysts say may be a first step toward curbing deceptive industry sales practices. Prudential, the largest United States life insurer, said today that the new commissions spread payments to agents fairly evenly over the life of policies worth at least $1 million. That differs from the typical system of large initial payments that regulators say prompts agents to push costly, unneeded coverage.
Date: 14 October 1995
Because of an editing error, a brief article yesterday about Turkey's prosecution of an American reporter referred incorrectly in some editions to the news organization for which she wrote an article on Turkish tactics against Kurdish separatists. The article was written for Reuters, not for a pro-Kurdish daily that reprinted it.
Date: 14 October 1995
Because of an editing error, a brief article yesterday about Turkey's prosecution of an American reporter referred incorrectly in some editions to the news organization for which she wrote an article on Turkish tactics against Kurdish separatists. The article was written for Reuters, not for a pro-Kurdish daily that reprinted it.