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+</s> aer banknote berlitz calloway centrust cluett fromstein gitano guterman hydro-quebec ipo kia memotec mlx nahb punts rake regatta rubens sim snack-food ssangyong swapo wachter </s>
+</s> pierre <unk> N years old will join the board as a nonexecutive director nov. N </s>
+</s> mr. <unk> is chairman of <unk> n.v. the dutch publishing group </s>
+</s> rudolph <unk> N years old and former chairman of consolidated gold fields plc was named a nonexecutive director of this british industrial conglomerate </s>
+</s> a form of asbestos once used to make kent cigarette filters has caused a high percentage of cancer deaths among a group of workers exposed to it more than N years ago researchers reported </s>
+</s> the asbestos fiber <unk> is unusually <unk> once it enters the <unk> with even brief exposures to it causing symptoms that show up decades later researchers said </s>
+</s> <unk> inc. the unit of new york-based <unk> corp. that makes kent cigarettes stopped using <unk> in its <unk> cigarette filters in N </s>
+</s> although preliminary findings were reported more than a year ago the latest results appear in today 's new england journal of medicine a forum likely to bring new attention to the problem </s>
+</s> a <unk> <unk> said this is an old story </s>
+</s> we 're talking about years ago before anyone heard of asbestos having any questionable properties </s>
+</s> there is no asbestos in our products now </s>
+</s> neither <unk> nor the researchers who studied the workers were aware of any research on smokers of the kent cigarettes </s>
+</s> we have no useful information on whether users are at risk said james a. <unk> of boston 's <unk> cancer institute </s>
+</s> dr. <unk> led a team of researchers from the national cancer institute and the medical schools of harvard university and boston university </s>
+</s> the <unk> spokeswoman said asbestos was used in very modest amounts in making paper for the filters in the early 1950s and replaced with a different type of <unk> in N </s>
+</s> from N to N N billion kent cigarettes with the filters were sold the company said </s>
+</s> among N men who worked closely with the substance N have died more than three times the expected number </s>
+</s> four of the five surviving workers have <unk> diseases including three with recently <unk> cancer </s>
+</s> the total of N deaths from malignant <unk> lung cancer and <unk> was far higher than expected the researchers said </s>
+</s> the <unk> rate is a striking finding among those of us who study <unk> diseases said dr. <unk> </s>
+</s> the percentage of lung cancer deaths among the workers at the west <unk> mass. paper factory appears to be the highest for any asbestos workers studied in western industrialized countries he said </s>
+</s> the plant which is owned by <unk> & <unk> co. was under contract with <unk> to make the cigarette filters </s>
+</s> the finding probably will support those who argue that the u.s. should regulate the class of asbestos including <unk> more <unk> than the common kind of asbestos <unk> found in most schools and other buildings dr. <unk> said </s>
+</s> the u.s. is one of the few industrialized nations that does n't have a higher standard of regulation for the smooth <unk> fibers such as <unk> that are classified as <unk> according to <unk> t. <unk> a professor of <unk> at the university of vermont college of medicine </s>
+</s> more common <unk> fibers are <unk> and are more easily rejected by the body dr. <unk> explained </s>
+</s> in july the environmental protection agency imposed a gradual ban on virtually all uses of asbestos </s>
+</s> by N almost all remaining uses of <unk> asbestos will be outlawed </s>
+</s> about N workers at a factory that made paper for the kent filters were exposed to asbestos in the 1950s </s>
+</s> areas of the factory were particularly dusty where the <unk> was used </s>
+</s> workers dumped large <unk> <unk> of the imported material into a huge <unk> poured in cotton and <unk> fibers and <unk> mixed the dry fibers in a process used to make filters </s>
+</s> workers described clouds of blue dust that hung over parts of the factory even though <unk> fans <unk> the area </s>
+</s> there 's no question that some of those workers and managers contracted <unk> diseases said <unk> phillips vice president of human resources for <unk> & <unk> </s>
+</s> but you have to recognize that these events took place N years ago </s>
+</s> it has no bearing on our work force today </s>
+</s> yields on money-market mutual funds continued to slide amid signs that portfolio managers expect further declines in interest rates </s>
+</s> the average seven-day compound yield of the N taxable funds tracked by <unk> 's money fund report eased a fraction of a percentage point to N N from N N for the week ended tuesday </s>
+</s> compound yields assume reinvestment of dividends and that the current yield continues for a year </s>
+</s> average maturity of the funds ' investments <unk> by a day to N days the longest since early august according to donoghue 's </s>
+</s> longer maturities are thought to indicate declining interest rates because they permit portfolio managers to retain relatively higher rates for a longer period </s>
+</s> shorter maturities are considered a sign of rising rates because portfolio managers can capture higher rates sooner </s>
+</s> the average maturity for funds open only to institutions considered by some to be a stronger indicator because those managers watch the market closely reached a high point for the year N days </s>
+</s> nevertheless said <unk> <unk> <unk> editor of money fund report yields may <unk> up again before they <unk> down because of recent rises in short-term interest rates </s>
+</s> the yield on six-month treasury bills sold at monday 's auction for example rose to N N from N N </s>
+</s> despite recent declines in yields investors continue to pour cash into money funds </s>
+</s> assets of the N taxable funds grew by $ N billion during the latest week to $ N billion </s>
+</s> typically money-fund yields beat comparable short-term investments because portfolio managers can vary maturities and go after the highest rates </s>
+</s> the top money funds are currently yielding well over N N </s>
+</s> dreyfus world-wide dollar the <unk> fund had a seven-day compound yield of N N during the latest week down from N N a week earlier </s>
+</s> it invests heavily in dollar-denominated securities overseas and is currently <unk> management fees which boosts its yield </s>
+</s> the average seven-day simple yield of the N funds was N N down from N N </s>
+</s> the 30-day simple yield fell to an average N N from N N the 30-day compound yield slid to an average N N from N N </s>
+</s> j.p. <unk> vice chairman of <unk> grace & co. which holds a N N interest in this <unk> company was elected a director </s>
+</s> he succeeds <unk> d. <unk> formerly a <unk> grace vice chairman who resigned </s>
+</s> <unk> grace holds three of grace energy 's seven board seats </s>
+</s> pacific first financial corp. said shareholders approved its acquisition by royal <unk> ltd. of toronto for $ N a share or $ N million </s>
+</s> the thrift holding company said it expects to obtain regulatory approval and complete the transaction by year-end </s>
+</s> <unk> international inc. said its <unk> & <unk> unit completed the sale of its <unk> controls operations to <unk> s.p a. for $ N million </s>
+</s> <unk> is an italian state-owned holding company with interests in the mechanical engineering industry </s>
+</s> <unk> controls based in <unk> ohio makes computerized industrial controls systems </s>
+</s> it employs N people and has annual revenue of about $ N million </s>
+</s> the federal government suspended sales of u.s. savings bonds because congress has n't lifted the ceiling on government debt </s>
+</s> until congress acts the government has n't any authority to issue new debt obligations of any kind the treasury said </s>
+</s> the government 's borrowing authority dropped at midnight tuesday to $ N trillion from $ N trillion </s>
+</s> legislation to lift the debt ceiling is <unk> in the fight over cutting capital-gains taxes </s>
+</s> the house has voted to raise the ceiling to $ N trillion but the senate is n't expected to act until next week at the earliest </s>
+</s> the treasury said the u.s. will default on nov. N if congress does n't act by then </s>
+</s> clark j. <unk> was named senior vice president and general manager of this u.s. sales and marketing arm of japanese auto maker mazda motor corp </s>
+</s> in the new position he will oversee mazda 's u.s. sales service parts and marketing operations </s>
+</s> previously mr. <unk> N years old was general marketing manager of chrysler corp. 's chrysler division </s>
+</s> he had been a sales and marketing executive with chrysler for N years </s>
+</s> when it 's time for their <unk> <unk> the nation 's manufacturing <unk> typically jet off to the <unk> <unk> of resort towns like <unk> <unk> and hot springs </s>
+</s> not this year </s>
+</s> the national association of manufacturers settled on the <unk> capital of indianapolis for its fall board meeting </s>
+</s> and the city decided to treat its guests more like royalty or rock stars than factory owners </s>
+</s> the idea of course to prove to N corporate decision makers that the buckle on the <unk> belt is n't so <unk> after all that it 's a good place for a company to expand </s>
+</s> on the receiving end of the message were officials from giants like du pont and <unk> along with lesser <unk> like <unk> steel and the valley queen <unk> factory </s>
+</s> for <unk> the executives joined mayor william h. <unk> iii for an evening of the indianapolis <unk> <unk> and a guest <unk> victor <unk> </s>
+</s> champagne and <unk> followed </s>
+</s> the next morning with a police <unk> <unk> of executives and their wives <unk> to the indianapolis motor <unk> <unk> by traffic or red lights </s>
+</s> the governor could n't make it so the <unk> governor welcomed the special guests </s>
+</s> a buffet breakfast was held in the museum where food and drinks are banned to everyday visitors </s>
+</s> then in the guests ' honor the <unk> <unk> out four drivers crews and even the official indianapolis N announcer for a <unk> exhibition race </s>
+</s> after the race fortune N executives <unk> like <unk> over the cars and drivers </s>
+</s> no <unk> the drivers pointed out they still had space on their machines for another sponsor 's name or two </s>
+</s> back downtown the <unk> squeezed in a few meetings at the hotel before <unk> the buses again </s>
+</s> this time it was for dinner and <unk> a block away </s>
+</s> under the stars and <unk> of the <unk> indiana <unk> <unk> nine of the hottest chefs in town fed them indiana <unk> <unk> <unk> <unk> <unk> <unk> and <unk> <unk> with a <unk> <unk> </s>
+</s> knowing a <unk> and free <unk> when they eat one the executives gave the chefs a standing <unk> </s>
+</s> more than a few <unk> say the <unk> treatment <unk> them to return to a <unk> city for future meetings </s>
+</s> but for now they 're looking forward to their winter meeting <unk> in february </s>
+</s> south korea registered a trade deficit of $ N million in october reflecting the country 's economic <unk> according to government figures released wednesday </s>
+</s> preliminary <unk> by the trade and industry ministry showed another trade deficit in october the fifth monthly setback this year casting a cloud on south korea 's <unk> economy </s>
+</s> exports in october stood at $ N billion a mere N N increase from a year earlier while imports increased sharply to $ N billion up N N from last october </s>
+</s> south korea 's economic boom which began in N stopped this year because of prolonged labor disputes trade conflicts and sluggish exports </s>
+</s> government officials said exports at the end of the year would remain under a government target of $ N billion </s>
+</s> despite the gloomy forecast south korea has recorded a trade surplus of $ N million so far this year </s>
+</s> from january to october the nation 's accumulated exports increased N N from the same period last year to $ N billion </s>
+</s> imports were at $ N billion up N N </s>
+</s> newsweek trying to keep pace with rival time magazine announced new advertising rates for N and said it will introduce a new incentive plan for advertisers </s>
+</s> the new ad plan from newsweek a unit of the washington post co. is the second incentive plan the magazine has offered advertisers in three years </s>
+</s> plans that give advertisers discounts for maintaining or increasing ad spending have become permanent <unk> at the news <unk> and underscore the fierce competition between newsweek time warner inc. 's time magazine and <unk> b. <unk> 's u.s. news & world report </s>
+</s> alan <unk> recently named newsweek president said newsweek 's ad rates would increase N N in january </s>
+</s> a full <unk> page in newsweek will cost $ N </s>
+</s> in mid-october time magazine lowered its guaranteed circulation rate base for N while not increasing ad page rates with a lower circulation base time 's ad rate will be effectively N N higher per subscriber a full page in time costs about $ N </s>
+</s> u.s. news has yet to announce its N ad rates </s>
+</s> newsweek said it will introduce the circulation credit plan which <unk> space credits to advertisers on renewal advertising </s>
+</s> the magazine will reward with page bonuses advertisers who in N meet or exceed their N spending as long as they spent $ N in N and $ N in N </s>
+</s> mr. <unk> said the plan is not an attempt to shore up a decline in ad pages in the first nine months of N newsweek 's ad pages totaled N a drop of N N from last year according to publishers information bureau </s>
+</s> what matters is what advertisers are paying per page and in that department we are doing fine this fall said mr. <unk> </s>
+</s> both newsweek and u.s. news have been gaining circulation in recent years without heavy use of electronic <unk> to subscribers such as telephones or watches </s>
+</s> however none of the big three <unk> recorded circulation gains recently </s>
+</s> according to audit bureau of <unk> time the largest <unk> had average circulation of N a decrease of N N </s>
+</s> newsweek 's circulation for the first six months of N was N flat from the same period last year </s>
+</s> u.s. news ' circulation in the same time was N down N N </s>
+</s> new england electric system bowed out of the bidding for public service co. of new hampshire saying that the risks were too high and the potential <unk> too far in the future to justify a higher offer </s>
+</s> the move leaves united illuminating co. and northeast utilities as the remaining outside bidders for ps of new hampshire which also has proposed an internal reorganization plan in chapter N bankruptcy proceedings under which it would remain an independent company </s>
+</s> new england electric based in <unk> mass. had offered $ N billion to acquire ps of new hampshire well below the $ N billion value united illuminating places on its bid and the $ N billion northeast says its bid is worth </s>
+</s> united illuminating is based in new haven conn. and northeast is based in hartford conn </s>
+</s> ps of new hampshire <unk> n.h. values its internal reorganization plan at about $ N billion </s>
+</s> john rowe president and chief executive officer of new england electric said the company 's return on equity could suffer if it made a higher bid and its forecasts related to ps of new hampshire such as growth in electricity demand and improved operating <unk> did n't come true </s>
+</s> when we <unk> raising our bid the risks seemed substantial and persistent over the next five years and the rewards seemed a long way out </s>
+</s> that got hard to take he added </s>
+</s> mr. rowe also noted that political concerns also worried new england electric </s>
+</s> no matter who owns ps of new hampshire after it emerges from bankruptcy proceedings its rates will be among the highest in the nation he said </s>
+</s> that attracts attention </s>
+</s> it was just another one of the risk factors that led to the company 's decision to withdraw from the bidding he added </s>
+</s> wilbur ross jr. of rothschild inc. the financial adviser to the troubled company 's equity holders said the withdrawal of new england electric might speed up the reorganization process </s>
+</s> the fact that new england proposed lower rate increases N N over seven years against around N N boosts proposed by the other two outside bidders complicated negotiations with state officials mr. ross asserted </s>
+</s> now the field is less <unk> he added </s>
+</s> separately the federal energy regulatory commission turned down for now a request by northeast seeking approval of its possible purchase of ps of new hampshire </s>
+</s> northeast said it would <unk> its request and still hopes for an <unk> review by the ferc so that it could complete the purchase by next summer if its bid is the one approved by the bankruptcy court </s>
+</s> ps of new hampshire shares closed yesterday at $ N off N cents in new york stock exchange composite trading </s>
+</s> norman <unk> N years old and former president and chief operating officer of toys r us inc. and frederick <unk> jr. N chairman of <unk> banking corp. were elected directors of this consumer electronics and appliances retailing chain </s>
+</s> they succeed daniel m. <unk> retired circuit city executive vice president and robert r. <unk> u.s. treasury undersecretary on the <unk> board </s>
+</s> commonwealth edison co. was ordered to refund about $ N million to its current and former <unk> for illegal rates collected for cost overruns on a nuclear power plant </s>
+</s> the refund was about $ N million more than previously ordered by the illinois commerce commission and trade groups said it may be the largest ever required of a state or local utility </s>
+</s> state court judge richard curry ordered edison to make average refunds of about $ N to $ N each to edison customers who have received electric service since april N including about two million customers who have moved during that period </s>
+</s> judge curry ordered the refunds to begin feb. N and said that he would n't <unk> any appeals or other attempts to block his order by commonwealth edison </s>
+</s> the refund pool may not be held <unk> through another round of appeals judge curry said </s>
+</s> commonwealth edison said it is already appealing the underlying commission order and is considering appealing judge curry 's order </s>
+</s> the exact amount of the refund will be determined next year based on actual <unk> made until dec. N of this year </s>
+</s> commonwealth edison said the ruling could force it to slash its N earnings by $ N a share </s>
+</s> for N commonwealth edison reported earnings of $ N million or $ N a share </s>
+</s> a commonwealth edison spokesman said that tracking down the two million customers whose addresses have changed during the past N N years would be an administrative nightmare </s>
+</s> in new york stock exchange composite trading yesterday commonwealth edison closed at $ N down N cents </s>
+</s> the $ N billion <unk> N plant near <unk> ill. was completed in N </s>
+</s> in a disputed N ruling the commerce commission said commonwealth edison could raise its electricity rates by $ N million to pay for the plant </s>
+</s> but state courts upheld a challenge by consumer groups to the commission 's rate increase and found the rates illegal </s>
+</s> the illinois supreme court ordered the commission to audit commonwealth edison 's construction expenses and refund any <unk> expenses </s>
+</s> the utility has been collecting for the plant 's construction cost from its N million customers subject to a refund since N </s>
+</s> in august the commission ruled that between $ N million and $ N million of the plant 's construction cost was <unk> and should be <unk> plus interest </s>
+</s> in his ruling judge curry added an additional $ N million to the commission 's calculations </s>
+</s> last month judge curry set the interest rate on the refund at N N </s>
+</s> commonwealth edison now faces an additional <unk> refund on its <unk> rate <unk> <unk> that the illinois appellate court has estimated at $ N million </s>
+</s> and consumer groups hope that judge curry 's <unk> N order may set a precedent for a second nuclear rate case involving commonwealth edison 's <unk> N plant </s>
+</s> commonwealth edison is seeking about $ N million in rate increases to pay for <unk> N </s>
+</s> the commission is expected to rule on the <unk> N case by year end </s>
+</s> last year commonwealth edison had to refund $ N million for poor performance of its <unk> i nuclear plant </s>
+</s> japan 's domestic sales of cars trucks and buses in october rose N N from a year earlier to N units a record for the month the japan automobile dealers ' association said </s>
+</s> the strong growth followed year-to-year increases of N N in august and N N in september </s>
+</s> the monthly sales have been setting records every month since march </s>
+</s> october sales compared with the previous month inched down N N </s>
+</s> sales of passenger cars grew N N from a year earlier to N units </s>
+</s> sales of medium-sized cars which benefited from price reductions arising from introduction of the consumption tax more than doubled to N units from N in october N </s>
+</s> texas instruments japan ltd. a unit of texas instruments inc. said it opened a plant in south korea to manufacture control devices </s>
+</s> the new plant located in <unk> about N miles from seoul will help meet increasing and diversifying demand for control products in south korea the company said </s>
+</s> the plant will produce control devices used in motor vehicles and household appliances </s>
+</s> the survival of spinoff cray computer corp. as a fledgling in the supercomputer business appears to depend heavily on the creativity and <unk> of its chairman and chief designer seymour cray </s>
+</s> not only is development of the new company 's initial machine tied directly to mr. cray so is its balance sheet </s>
+</s> documents filed with the securities and exchange commission on the pending spinoff disclosed that cray research inc. will withdraw the almost $ N million in financing it is providing the new firm if mr. cray leaves or if the <unk> project he heads is scrapped </s>
+</s> the documents also said that although the <unk> mr. cray has been working on the project for more than six years the cray-3 machine is at least another year away from a fully operational prototype </s>
+</s> moreover there have been no orders for the cray-3 so far though the company says it is talking with several prospects </s>
+</s> while many of the risks were anticipated when <unk> cray research first announced the spinoff in may the <unk> it attached to the financing had n't been made public until yesterday </s>
+</s> we did n't have much of a choice cray computer 's chief financial officer gregory <unk> said in an interview </s>
+</s> the theory is that seymour is the chief designer of the cray-3 and without him it could not be completed </s>
+</s> cray research did not want to fund a project that did not include seymour </s>
+</s> the documents also said that cray computer anticipates <unk> perhaps another $ N million in financing beginning next september </s>
+</s> but mr. <unk> called that a <unk> scenario </s>
+</s> the filing on the details of the spinoff caused cray research stock to jump $ N yesterday to close at $ N in new york stock exchange composite trading </s>
+</s> analysts noted yesterday that cray research 's decision to link its $ N million <unk> note to mr. cray 's presence will complicate a valuation of the new company </s>
+</s> it has to be considered as an additional risk for the investor said gary p. <unk> of <unk> group inc. minneapolis </s>
+</s> cray computer will be a concept stock he said </s>
+</s> you either believe seymour can do it again or you do n't </s>
+</s> besides the designer 's age other risk factors for mr. cray 's new company include the cray-3 's tricky <unk> chip technology </s>
+</s> the sec documents describe those chips which are made of <unk> <unk> as being so fragile and minute they will require special <unk> handling equipment </s>
+</s> in addition the cray-3 will contain N processors twice as many as the largest current supercomputer </s>
+</s> cray computer also will face intense competition not only from cray research which has about N N of the world-wide supercomputer market and which is expected to roll out the <unk> machine a direct competitor with the cray-3 in N </s>
+</s> the spinoff also will compete with international business machines corp. and japan 's big three hitachi ltd. nec corp. and fujitsu ltd </s>
+</s> the new company said it believes there are fewer than N potential customers for <unk> priced between $ N million and $ N million presumably the cray-3 price range </s>
+</s> under terms of the spinoff cray research stockholders are to receive one cray computer share for every two cray research shares they own in a distribution expected to occur in about two weeks </s>
+</s> no price for the new shares has been set </s>
+</s> instead the companies will leave it up to the marketplace to decide </s>
+</s> cray computer has applied to trade on nasdaq </s>
+</s> analysts calculate cray computer 's initial book value at about $ N a share </s>
+</s> along with the note cray research is <unk> about $ N million in assets primarily those related to the cray-3 development which has been a drain on cray research 's earnings </s>
+</s> <unk> balance sheets clearly show why cray research favored the spinoff </s>
+</s> without the cray-3 research and development expenses the company would have been able to report a profit of $ N million for the first half of N rather than the $ N million it posted </s>
+</s> on the other hand had it existed then cray computer would have incurred a $ N million loss </s>
+</s> mr. cray who could n't be reached for comment will work for the new colorado springs colo. company as an independent contractor the arrangement he had with cray research </s>
+</s> regarded as the father of the supercomputer mr. cray was paid $ N at cray research last year </s>
+</s> at cray computer he will be paid $ N </s>
+</s> besides messrs. cray and <unk> other senior management at the company includes neil <unk> N president and chief executive officer joseph m. <unk> N vice president engineering malcolm a. <unk> N vice president software and douglas r. <unk> N vice president hardware </s>
+</s> all came from cray research </s>
+</s> cray computer which currently employs N people said it expects a work force of N by the end of N </s>
+</s> john r. stevens N years old was named senior executive vice president and chief operating officer both new positions </s>
+</s> he will continue to report to donald <unk> president and chief executive officer </s>
+</s> mr. stevens was executive vice president of this <unk> holding company </s>
+</s> arthur a. hatch N was named executive vice president of the company </s>
+</s> he was previously president of the company 's eastern edison co. unit </s>
+</s> john d. <unk> N was named to succeed mr. hatch as president of eastern edison </s>
+</s> previously he was vice president of eastern edison </s>
+</s> robert p. <unk> N was named senior vice president of eastern utilities </s>
+</s> he was previously vice president </s>
+</s> the u.s. claiming some success in its trade <unk> removed south korea taiwan and saudi arabia from a list of countries it is closely watching for allegedly failing to honor u.s. patents <unk> and other <unk> rights </s>
+</s> however five other countries china thailand india brazil and mexico will remain on that so-called priority watch list as a result of an interim review u.s. trade representative carla hills announced </s>
+</s> under the new u.s. trade law those countries could face accelerated <unk> investigations and stiff trade sanctions if they do n't improve their protection of intellectual property by next spring </s>
+</s> mrs. hills said many of the N countries that she placed under <unk> degrees of scrutiny have made genuine progress on this touchy issue </s>
+</s> she said there is growing <unk> around the world that <unk> of <unk> rights <unk> all trading nations and particularly the creativity and <unk> of an <unk> country 's own citizens </s>
+</s> u.s. trade negotiators argue that countries with inadequate <unk> for <unk> rights could be hurting themselves by discouraging their own scientists and authors and by <unk> u.s. high-technology firms from investing or marketing their best products there </s>
+</s> mrs. hills <unk> south korea for creating an <unk> task force and special enforcement teams of police officers and prosecutors trained to pursue movie and book <unk> </s>
+</s> seoul also has instituted effective <unk> procedures to aid these teams she said </s>
+</s> taiwan has improved its standing with the u.s. by <unk> a <unk> copyright agreement <unk> its trademark law and introducing legislation to protect foreign movie producers from unauthorized <unk> of their films </s>
+</s> that measure could <unk> taipei 's growing number of small <unk> <unk> to pay movie producers for showing their films </s>
+</s> saudi arabia for its part has vowed to enact a copyright law compatible with international standards and to apply the law to computer software as well as to literary works mrs. hills said </s>
+</s> these three countries are n't completely off the hook though </s>
+</s> they will remain on a <unk> list that includes N other countries </s>
+</s> those countries including japan italy canada greece and spain are still of some concern to the u.s. but are deemed to pose <unk> problems for american patent and copyright owners than those on the priority list </s>
+</s> gary hoffman a washington lawyer specializing in <unk> cases said the threat of u.s. <unk> combined with a growing recognition that protecting intellectual property is in a country 's own interest prompted the improvements made by south korea taiwan and saudi arabia </s>
+</s> what this tells us is that u.s. trade law is working he said </s>
+</s> he said mexico could be one of the next countries to be removed from the priority list because of its efforts to craft a new patent law </s>
+</s> mrs. hills said that the u.s. is still concerned about disturbing developments in turkey and continuing slow progress in malaysia </s>
+</s> she did n't elaborate although earlier u.s. trade reports have complained of videocassette <unk> in malaysia and <unk> for u.s. pharmaceutical patents in turkey </s>
+</s> the N trade act requires mrs. hills to issue another review of the performance of these countries by april N </s>
+</s> so far mrs. hills has n't deemed any cases bad enough to merit an accelerated investigation under the so-called special N provision of the act </s>
+</s> argentina said it will ask creditor banks to <unk> its foreign debt of $ N billion the <unk> in the developing world </s>
+</s> the declaration by economy minister <unk> <unk> is believed to be the first time such an action has been called for by an <unk> official of such <unk> </s>
+</s> the latin american nation has paid very little on its debt since early last year </s>
+</s> argentina <unk> to reach a reduction of N N in the value of its external debt mr. <unk> said through his spokesman <unk> <unk> </s>
+</s> mr. <unk> met in august with u.s. assistant treasury secretary david mulford </s>
+</s> <unk> negotiator carlos <unk> was in washington and new york this week to meet with banks </s>
+</s> mr. <unk> recently has said the government of president carlos <unk> who took office july N feels a significant reduction of principal and interest is the only way the debt problem may be solved </s>
+</s> but he has not said before that the country wants half the debt <unk> </s>
+</s> during its centennial year the wall street journal will report events of the past century that stand as milestones of american business history </s>
+</s> three computers that changed the face of personal computing were launched in N </s>
+</s> that year the apple ii commodore pet and tandy <unk> came to market </s>
+</s> the computers were crude by today 's standards </s>
+</s> apple ii owners for example had to use their television sets as screens and <unk> data on <unk> </s>
+</s> but apple ii was a major advance from apple i which was built in a garage by stephen <unk> and steven jobs for <unk> such as the <unk> computer club </s>
+</s> in addition the apple ii was an affordable $ N </s>
+</s> crude as they were these early pcs triggered explosive product development in desktop models for the home and office </s>
+</s> big mainframe computers for business had been around for years </s>
+</s> but the new N pcs unlike earlier <unk> types such as the <unk> <unk> and <unk> had <unk> and could store about two pages of data in their memories </s>
+</s> current pcs are more than N times faster and have memory capacity N times greater than their N counterparts </s>
+</s> there were many pioneer pc <unk> </s>
+</s> william gates and paul allen in N developed an early <unk> system for pcs and gates became an industry billionaire six years after ibm adapted one of these versions in N </s>
+</s> alan f. <unk> currently chairman of seagate technology led the team that developed the disk drives for pcs </s>
+</s> dennis <unk> and dale <unk> two atlanta engineers were <unk> of the internal <unk> that allow pcs to share data via the telephone </s>
+</s> ibm the world leader in computers did n't offer its first pc until august N as many other companies entered the market </s>
+</s> today pc shipments annually total some $ N billion world-wide </s>
+</s> <unk> <unk> & co. an australian pharmaceuticals company said its <unk> inc. affiliate acquired <unk> inc. for $ N million </s>
+</s> <unk> is a new <unk> pharmaceuticals concern that sells products under the <unk> label </s>
+</s> <unk> said it owns N N of <unk> 's voting stock and has an agreement to acquire an additional N N </s>
+</s> that stake together with its convertible preferred stock holdings gives <unk> the right to increase its interest to N N of <unk> 's voting stock </s>
+</s> oil production from australia 's bass <unk> fields will be raised by N barrels a day to about N barrels with the launch of the <unk> field the first of five small fields scheduled to be brought into production before the end of N </s>
+</s> esso australia ltd. a unit of new york-based exxon corp. and broken hill <unk> operate the fields in a joint venture </s>
+</s> esso said the <unk> field started production tuesday </s>
+</s> output will be gradually increased until it reaches about N barrels a day </s>
+</s> the field has reserves of N million barrels </s>
+</s> reserves for the five new fields total N million barrels </s>
+</s> the <unk> and <unk> fields are expected to start producing early next year and the <unk> and <unk> fields later next year </s>
+</s> esso said the fields were developed after the australian government decided in N to make the first N million barrels from new fields free of <unk> tax </s>
+</s> <unk> <unk> corp. said it completed the $ N million sale of its southern optical subsidiary to a group led by the unit 's president thomas r. sloan and other managers </s>
+</s> following the acquisition of <unk> <unk> by a buy-out group led by shearson lehman hutton earlier this year the maker of <unk> <unk> decided to <unk> itself of certain of its <unk> businesses </s>
+</s> the sale of southern optical is a part of the program </s>
+</s> the white house said president bush has approved duty-free treatment for imports of certain types of watches that are n't produced in significant quantities in the u.s. the virgin islands and other u.s. <unk> </s>
+</s> the action came in response to a petition filed by <unk> inc. for changes in the u.s. <unk> system of preferences for imports from developing nations </s>
+</s> previously watch imports were denied such duty-free treatment </s>
+</s> <unk> had requested duty-free treatment for many types of watches covered by N different u.s. tariff <unk> </s>
+</s> the white house said mr. bush decided to grant duty-free status for N categories but turned down such treatment for other types of watches because of the potential for material injury to watch producers located in the u.s. and the virgin islands </s>
+</s> <unk> is a major u.s. producer and seller of watches including <unk> <unk> watches assembled in the philippines and other developing nations covered by the u.s. tariff preferences </s>
+</s> u.s. trade officials said the philippines and thailand would be the main beneficiaries of the president 's action </s>
+</s> imports of the types of watches that now will be eligible for duty-free treatment totaled about $ N million in N a relatively small share of the $ N billion in u.s. watch imports that year according to an aide to u.s. trade representative carla hills </s>
+</s> magna international inc. 's chief financial officer james mcalpine resigned and its chairman frank <unk> is stepping in to help turn the <unk> manufacturer around the company said </s>
+</s> mr. <unk> will direct an effort to reduce overhead and curb capital spending until a more satisfactory level of profit is achieved and maintained magna said </s>
+</s> stephen <unk> currently vice president finance will succeed mr. mcalpine </s>
+</s> an ambitious expansion has left magna with excess capacity and a heavy debt load as the automotive industry enters a downturn </s>
+</s> the company has reported declines in operating profit in each of the past three years despite steady sales growth </s>
+</s> magna recently cut its quarterly dividend in half and the company 's class a shares are <unk> far below their 52-week high of N canadian dollars us$ N </s>
+</s> on the toronto stock exchange yesterday magna shares closed up N canadian cents to c$ N </s>
+</s> mr. <unk> founder and controlling shareholder of magna resigned as chief executive officer last year to seek unsuccessfully a seat in canada 's parliament </s>
+</s> analysts said mr. <unk> wants to resume a more influential role in running the company </s>
+</s> they expect him to cut costs throughout the organization </s>
+</s> the company said mr. <unk> will personally direct the restructuring <unk> by <unk> <unk> president and chief executive </s>
+</s> neither they nor mr. mcalpine could be reached for comment </s>
+</s> magna said mr. mcalpine resigned to pursue a consulting career with magna as one of his clients </s>
+</s> lord <unk> <unk> chairman of english china <unk> plc was named a nonexecutive director of this british chemical company </s>
+</s> japanese investors nearly <unk> bought up two new mortgage <unk> mutual funds totaling $ N million the u.s. federal national mortgage association said </s>
+</s> the purchases show the strong interest of japanese investors in u.s. <unk> instruments fannie mae 's chairman david o. maxwell said at a news conference </s>
+</s> he said more than N N of the funds were placed with japanese institutional investors </s>
+</s> the rest went to investors from france and hong kong </s>
+</s> earlier this year japanese investors snapped up a similar $ N million mortgage-backed securities mutual fund </s>
+</s> that fund was put together by blackstone group a new york investment bank </s>
+</s> the latest two funds were assembled jointly by goldman sachs & co. of the u.s. and japan 's daiwa securities co </s>
+</s> the new seven-year funds one offering a fixed-rate return and the other with a floating-rate return linked to the london interbank offered rate offer two key advantages to japanese investors </s>
+</s> first they are designed to eliminate the risk of prepayment mortgage-backed securities can be retired early if interest rates decline and such prepayment forces investors to <unk> their money at lower rates </s>
+</s> second they channel monthly mortgage payments into semiannual payments reducing the administrative burden on investors </s>
+</s> by addressing those problems mr. maxwell said the new funds have become extremely attractive to japanese and other investors outside the u.s. </s>
+</s> such devices have boosted japanese investment in mortgage-backed securities to more than N N of the $ N billion in such instruments outstanding and their purchases are growing at a rapid rate </s>
+</s> they also have become large purchasers of fannie mae 's corporate debt buying $ N billion in fannie mae bonds during the first nine months of the year or almost a <unk> of the total amount issued </s>
+</s> james l. <unk> <unk> executive vice president was named a director of this oil concern expanding the board to N members </s>
+</s> ltv corp. said a federal bankruptcy court judge agreed to extend until march N N the period in which the steel aerospace and energy products company has the exclusive right to file a reorganization plan </s>
+</s> the company is operating under chapter N of the federal bankruptcy code giving it court protection from creditors ' lawsuits while it attempts to work out a plan to pay its debts </s>
+</s> italian chemical giant montedison <unk> through its montedison acquisition n.v. indirect unit began its $ <unk> tender offer for all the common shares outstanding of erbamont n.v. a maker of pharmaceuticals incorporated in the netherlands </s>
+</s> the offer advertised in today 's editions of the wall street journal is scheduled to expire at the end of november </s>
+</s> montedison currently owns about N N of erbamont 's common shares outstanding </s>
+</s> the offer is being launched <unk> to a previously announced agreement between the companies </s>
+</s> japan 's reserves of gold convertible foreign currencies and special drawing rights fell by a hefty $ N billion in october to $ N billion the finance ministry said </s>
+</s> the total marks the sixth consecutive monthly decline </s>
+</s> the <unk> downturn reflects the intensity of bank of japan <unk> intervention since june when the u.s. currency temporarily surged above the N yen level </s>
+</s> the announcement follows a sharper $ N billion decline in the country 's foreign reserves in september to $ N billion </s>
+</s> pick a country any country </s>
+</s> it 's the latest investment craze sweeping wall street a rash of new closed-end country funds those publicly traded portfolios that invest in stocks of a single foreign country </s>
+</s> no fewer than N country funds have been launched or registered with regulators this year triple the level of all of N according to charles e. simon & co. a washington-based research firm <