Reluare luni, 11 august 1986

NEWS SUMMARY: TUESDAY, AUGUST 12, 1986

Date: 12 August 1986

International Arms control talks in Moscow between American and Soviet officials were described by the head of the American delegation as ''serious'' and ''exploratory.'' The American, Paul H. Nitze, who is arms adviser to Secretary of State George P. Shultz, said the talks would continue today. They are part of an effort to prepare for the next summit meeting. [ Page A1, Column 1. ] Canadian boats picked up castaways described by the Coast Guard officials as Asians. Three fishing boats took aboard 150 men, women and children in a fog off Newfoundland. The Coast Guard said they were adrift for five days. Where they came from was a mystery. [ A1:3. ]

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NEWS SUMMARY: MONDAY, AUGUST 11, 1986

Date: 11 August 1986

International Arms control talks in Moscow this week between American and Soviet officials are intended to determine whether prospects for control were advanced by a recent exchange of proposals by Mikhail S. Gorbachev and President Reagan, Western diplomats said. The American officials, led by Paul H. Nitze, arms adviser to Secretary of State George P. Shultz, arrived in Moscow. The talks are to be held today and tomorrow. [ Page A1, Column 6. ] A tighter economic embargo of Cuba is planned by President Reagan, who is also planning to announce new steps to help long-term political prisoners in Cuba who want to come to the United States as refugees, Administration officials said. The National Security Council staff has prepared a directive providing for stronger enforcement of the embargo imposed in the early 1960's, which prohibits a broad range of financial transactions with Cuba. The purpose of the new rules is to deny Cuba hard currency and American goods it now gets by circumventing the embargo. [ A1:2. ]

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Magazine Is Halted

Date: 12 August 1986

AP

The Meredith Corporation has suspended publication of Farm Computer News, citing slumping advertising revenues. The bimonthly magazine specializing in new farm technology was introduced in January 1985.

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Laventhol Settlement

Date: 12 August 1986

Special to the New York Times

Laventhol & Horwath said today that it had agreed in principle to a $6.5 million settlement of over 350 lawsuits filed by investors against the Philadelphia accounting firm for its association with the financial scheme of J. David Dominelli, the San Diego financier who defrauded investors of over $120 million. Also sued were the law firms of Rogers & Wells; Wiles, Circuit & Tremblay, and Abramson & Fox.

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Market Place; How Investors Sniff Out News

Date: 12 August 1986

By John Crudele

John Crudele

ONE of the most talked about events on Wall Street last week was something that did not take place. Two top-ranking BankAmerica officials unexpectedly canceled a meeting with financial analysts, and this led to widespread speculation, and headlines, that the troubled financial institution was about to be acquired. That guess, as it turned out, was not accurate. Instead, one of the officials, John S. Poelker, chief financial officer, resigned yesterday in what he said was ''purely a personal matter.''

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Northrop Case Sentencing

Date: 12 August 1986

Special to the New York Times

A former engineer on the Northrop Corporation's Stealth bomber project was sentenced today to five years in Federal prison and five years' probation. He was also ordered to repay Nothrop $144,000 for steering subcontracts to a concern that he controlled.

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Partners National Sets Acquisition

Date: 12 August 1986

Reuters

American Medcenters Inc. said it had agreed to be acquired by Partners National Health Plans for $41 million, or $8.50 a share.

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Boesky Acquires Robertshaw Stake

Date: 12 August 1986

Special to the New York Times

The New York investor Ivan F. Boesky has purchased a 5.8 percent stake in the Robertshaw Controls Company. In a filing with the Securities and Exchange Commission, Mr. Boesky said that he had acquired the Robertshaw shares ''in connection with merger arbitrage and other investment activities.''

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Halliburton to Link Unit With Dresser

Date: 12 August 1986

Special to the New York Times

The Halliburton Company and Dresser Industries, two of the nation's largest oilfield-services concerns, said today that they intend to combine their drilling-fluid divisions in a joint venture, forming the world's largest drilling-fluid operation. The Dallas companies said the deal, which is expected to be completed before Oct. 31, involves the combining of assets valued at $250 million. Kenneth S. Miller and Russell J. Hoffman, analysts with Shearson Lehman Brothers Inc. in New York, said that within the last 18 months, all but one major drilling-fluid operation, NL Industries, had formed joint ventures to consolidate and cut costs.

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WICKES SETS BID FOR OWENS

Date: 12 August 1986

AP

The Wickes Companies, rebuffed in a friendly takeover overture for the Owens-Corning Fiberglas Corporation, said today that it would begin a $2.1 billion hostile tender offer Tuesday for the 91.5 percent of the company it does not already own. The offer of $74 a share is up from a $70-a-share bid that Wickes made to Owens-Corning managment last week. But Owens-Corning shares still rose by $1.375 a share, to $78.125, on volume of 731,800 shares on the New York Stock Exchange. The high price appeared to indicate that stock traders expect further offers to drive up the price of Owens-Corning stock further. The announcement of the tender offer was made after trading on the stock market closed.

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