NEWS SUMMARY: WEDNESDAY, SEPTEMBER 16, 1987
Date: 16 September 1987
LEAD: INTERNATIONAL A3-15 Three days of U.S.-Soviet talks were opened with the signing by President Reagan of an agreement on centers to reduce the risk of nuclear conflict. The accord sets up a second Moscow-Washington communications link. Page A1 An office associated with the P.L.O.
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Midland Bank
Date: 16 September 1987
Reuters
LEAD: Midland Bank P.L.C. said Hanson Trust P.L.C. had increased its stake in Midland, the country's fourth-biggest bank and the target of takeover speculation. Midland said Hanson, a large British conglomerate, had raised its stake to 6.1 percent, from 5.8 percent. Hanson said it had the stake as an investment.
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Wireless Stake
Date: 16 September 1987
Reuters
LEAD: Cheung Kong Holdings Ltd. has acquired a 4.9 percent stake in Britain's Cable and Wireless P.L.C. The Hong Kong concern, owned by the Li Ka-Shing, said it had bought the stake for just under $3 billion (Hong Kong), or $385 million (American). Cable and Wireless said its stock structure prevented any individual shareholder from owning more than 15 percent of the telecommunications company.
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Jeep Incentives
Date: 16 September 1987
Special to the New York Times
LEAD: The Chrysler Corporation increased its sales incentives on four-door models of the 1986 and 1987 Jeep Cherokee and Comanche. The program, which is retroactive to Sept. 14 and will expire on Sept. 30, offers 1.9 percent annual financing for two-year loans, down from the 3.7 percent rate that had been in place.
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Montleigh Group
Date: 16 September 1987
Reuters
LEAD: Montleigh Group P.L.C. said it had agreed to acquire Pension Fund Property Unit Trust for $:271 million, or about $445 million. Montleigh is a British investment and development group.
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A 2D HONDA PLANT IS EXPECTED IN OHIO
Date: 16 September 1987
By Philip E. Ross, Special To the New York Times
Philip Ross
LEAD: The Honda Motor Company has apparently decided to build a second auto assembly plant in Ohio.
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Pacific Bell Effort
Date: 17 September 1987
Special to the New York Times
LEAD: Pacific Bell, the Northern California telephone operating company, said today it is offering voluntary early retirement to about 17,500 management employees in an effort to reduce the size of its workforce. The early retirement program also pertains to about 190 managers of Pacific Telesis Group, Pacific Bell's parent.
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Pickens to File Newmont Suit
Date: 17 September 1987
Reuters
LEAD: The Texas investor T. Boone Pickens said today that he planned to countersue the Newmont Mining Corporation in a Nevada court.
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Bid for Marine Midland Lifted
Date: 16 September 1987
By James Sterngold
James Sterngold
LEAD: The Hongkong and Shanghai Banking Corporation has agreed to increase its offer for the 48 percent of Marine Midland Banks it does not already own to $83 a share, from $70, the banks announced yesterday.
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Industry Output Up 0.3%
Date: 16 September 1987
AP
LEAD: Output at the nation's factories, mines and utilities rose three-tenths of 1 percent in August, the seventh consecutive monthly advance, the Government said today.
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