Business and City in Brief

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BTR wins pounds 55m contract

Dunlop Aviation Division, a part of the BTR industrial conglomerate, has won a pounds 55m contract from the Indonesian aircraft maker Pesawat Terbang Nusantara to manufacture wheels, brakes and related electronics for a 64-passenger turboprop aircraft.

EMU scepticism

European central bank officials meeting in Jackson Hole, Wyoming, were sceptical that European monetary union is on course. The decision to widen to 15 per cent the bands within which currencies in the exchange rate mechanism can fluctuate only postpones the job of resolving domestic economic problems and hence monetary union, they said at a Federal Bank of Kansas City conference on monetary policy.

Output fall

The Economist Intelligence Unit forecast in its third-quarter Global Outlook that the European economy would shrink by 0.1 per cent this year, the first annual fall in output of goods and services since 1975. Japan would recover next year, but the strength of the upturn would be constrained by the strong yen. Tighter tax and spending policy would slow the US economy.

Pipeline talks

Turkish and Azeri officials will meet multinational oil companies tomorrow to discuss building an oil pipeline between Turkey and Azerbaijan. The dollars 1.3bn pipeline will link Azeri oil fields to Turkey's Yumurtalik export terminal on the Mediterranean coast.

Nintendo link-up

Nintendo, the giant Japanese computer game company, is to link up with the US-based Silicon Graphics to make next-generation electronic game machines. The Japanese newspaper Nihon Keizai Shimbun said the move was aimed at coping with plans by Matsushita and other large Japanese electronic equipment makers to enter the computer game manufacturing business.

Cement cartel

(First Edition)

Cement producers in Europe could face heavy EC fines for alleged cartel arrangements. A Commission investigation into cement production, which has been going on since 1989, should be completed this autumn, according to a report by the German business daily Handelsblatt. It sourced its report to a spokesman at the Commission.

TODAY

Interims: Copymore, Guinness Peat Group, Hibernian Group, Holmes Protection Group.

Finals: Aerospace Engineering.

TOMORROW

Interims: Amicable Smaller Ent Trust, Bournemouth Water, Bridon, Graseby, Invesco, Kerry Group, Medeva, Mersey Docks & Harbour, Monument Oil & Gas, Murray Int, Navan Resources, Newcastle Building Society, Riva Group, Scottish Eastern Inv, Sunleigh, TR High Income Trust, Wace Group, Wates City of London Prop, West Hampshire Water.

Finals: River & Mercantile Smaller Companies.

WEDNESDAY

Construction - new orders (Jun).

Interims: Aegis Group, Burlington Group, S Daniels, Fleming Claverhouse Inv Trust, Hemingway Properties, Hickson Intl, Independent Newspapers, Mayflower Corp, Sandvik AB, Telegraph, Victaulic, James Wilkes.

Finals: Property Trust, WH Smith.

THURSDAY

National accounts advance annual estimates (1992). Engineering sales and orders (June). Energy trends (June).

Interims: Bostrom, Cattle's (Holdings), EFT Group, Gibbs & Dandy, Guardian Royal Exchange, Hambro Countrywide, Alfred McAlpine, Merlin Intnl Green, Pentland Group, Rentokil, Slough Estates, Weir Group.

Finals: Murray Income Trust.

FRIDAY

CBI Monthly trends (Aug). New vehicle registrations (Jul).

Interims: British Assets Trust (Q3), Coutts Consulting, Scottish Inv Trust (Q3), Shorco Gp.

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