Briefs

Press, 7 February 1985, Page 26

Briefs

Oil supply down

Oil supplies from O.P.E.C. countries appeared to have dropped 1.5 M barrels per day last month to about 15.5 M b.p.d., the International Energy Agency said. A sharp drop in Iranian oil shipments in late December and early January was the main cause, the I.E.A. said.

Record GM profit General Motors has reported 1984 earnings of SUS4.S billion the first of a string of record profits for Detroit carmakers that is expected to push the industry total to SUSIO billion. GM announced that it made a SUSB77M fourth-quarter profit, bringing 1984 earnings to a record high despite strikes at home, in Canada, and in Europe. GM said the three' strikes cost the company SUS4SOM in earnings. Bid for Tootal The Entrad Corporation, Australia’s leading textile firm, has launched a bid for Tootal, a major British textile company, for £ 124 M (SNZ297.BM). Directors of Tootal, formerly known as English Textiles, have rejected the bid as inadequate. Entrad already holds a 5.78 per cent interest in Tootal, whose share prices rose on Tuesday to 78p on the London Stock Exchange, 8p per share more than the Entrad offer.