NEWS SUMMARY

NEWS SUMMARY

AIR CARGO

FastAir Cargo is a fast company with a hard-working family behind it. 2BAVIATION

The limit on foreign ownership in U.S. air carriers could face pressures to change. 2B

The British government gave the go ahead for BAe to acquire the country's last indigenous volume car maker, Rover Group PLC. 5B

COMMODITIES

Exploding Chinese demand may make wool Australia's chief export this year. 6A

The recently confirmed raw sugar sale to a British trader for China on behalf of Cuba's account was made for omnibus sugar. 6A

The Chicago Board of Trade has proposed a new futures contract designed to hedge short-term interest rate risk. 6A

The recently confirmed raw sugar sale to a U.K. trader for China on behalf of Cuba's account was made for omnibus sugar. 6A

EDI

A physicist has reported a possible new temperature record for superconductivity. 5B

EXPORTS

South Korean textile manufacturers grapple with a shift away from synthetics in the United States. 1A

South Korean grain buyers say increased imports of U.S. beef would hurt U.S. grain exports to Korea. 5A

Chances of a new agreement regarding Japan's restrictions of U.S. beef and orange imports appear slim, but last-minute talks continued. 5A

A study is designed to back the European Community's plan to abolish national frontiers and create a single European market by the end of 1992. 5A

Hong Kong's Hutchison conglomerate reports profit up for last year, but much slower growth. 5A

FINANCIAL

Japanese economists predict an exchange rate of between 90 and 110 yen to the U.S. dollar by 1990 or sooner. 7A

The International Finance Corp. released a fact book on stock markets in developing countries. 7A

Federal Reserve researchers say the lesser developed country debt crisis is a problem of trade and financial flows. 7A

Malaysia's central bank revised its growth forecast upward thanks to a strong performance by manufacturing industry. 7A

The U.S. dollar moved broadly higher Tuesday in response to a feeling it was oversold on Monday. 7A

GENERAL NEWS

The government's main index for forecasting the economic outlook rose at a healthy pace - by 0.9 percent in February. 3A

Sen. Albert Gore Jr. kicked off his presidential primary campaign in New York Tuesday. 4A

Billions of stamps needed for postal rate change. 2B

IMPORTS

A new unit of China's investment entity plans to invest in Arizona real estate. 4A

Soviet fashion designers seek U.S. apparel manufacturers, stage unprecedented show. 4A

Apparel retailers still are languishing in the doldrums that began last summer and have continued into 1988. 4A

Canadian native leaders lobby in London in an effort to persuade Britain to drop a plan to require warning labels on some fur products. 4A

INSURANCE

Intermodalism has created liability exposure for freight forwarders and non-vessel operating common carriers that sell one-stop services. 1A

There are ways to reduce a freight forwarder's exposure to loss when handling claims. 9A

Four states are debating joining the antitrust suit against the insurance industry. 9A

Pennsylvania legislators are forming new auto insurer in the state. 9A

Provident Mutual Life Insurance managed a $3 million profit from its operations last year, but its the net worth shrank by 18 percent. 9A

Small Businesses in Massachusetts are worried about Gov. Dukakis' health-care bill. 9A

Rate reform activists say phooey to industry initiative in California. 9A

MARITIME

Conferees on the maritime provisions of the omnibus trade bill hope to hammer out a compromise before the end of the week. 1A

Evergreen Line has denied any guilt or complicity in drug smuggling. 1B

Floods have disrupted inland shipping in West Germany. 1B

The 30th season on the St. Lawrence Seaway opened Tuesday morning. 1B

Maritime unions and the Reagan administration clashed in court over allowing reflagged Kuwaiti tankers to be manned by aliens. 3B

New Orleans pilots are seeking increases in salaries and benefits. 3B

Ocean carrier use of EDI is still in its adolescence. 5B The FMC decides to delay any retaliation against South Korea for discriminating against foreign ocean carriers. 10B

The Port of New London beat out New York harbor to get business from New York's own parks department. 10B

OIL AND GAS

Resource-rich Indonesia is flirting with nuclear power, attracting interest from at least one U.S. supplier. 6B

The White House expects within the next few weeks to find a legislator to introduce its plan to sell most of the naval petroleum reserve. 6B

The fuel oil market was unmoved this week by a West German shipping halt, traders said. 7B

New England Electric System will play a key role in meeting the demand for power. 7B

Exxon Corp. added 450 million barrels of oil and natural gas reserves last year. 7B

OPINION

The broad outline of a bipartisan post-Reagan federal housing policy has begun to emerge in recent months. 8A

Ultimately, South Korea must accommodate U.S. demands for greater market access there because the U.S. still accounts for 40 percent of Korea's exports. 8A

Despite talk about renewed vigor in total spending, U.S. business is struggling to stave off a downturn; this is not a setting for tight money. 8A

PLASTICS/CHEMICALS

Low oil prices are expected to buoy the petrochemical market in 1988. 9B

A BP Chemicals America Inc. division and Sterling Chemicals Inc. will share the cost of adding acetic acid capacity to Sterling's Texas City facility. 9B

Wine bottle labels are saying something new: Contains Sulfites. 9B

RAILROADS

French archaeologists race to save history from Channel Tunnel bulldozers. 4B

Standardized communications systems have become an essential railroad marketing and management tool. 5B

TRUCKING

New Jersey toll road officials warned that a state takeover would create great financial burdens for taxpayers. 4B

Truckers say Texas carpet moves are intrastate. 4B

WORLD TRADE

Cargill Inc. won the Philippines' blessing to build a coconut oil mill in the country. 1A

Trade bills before Congress illustrate the U.S. steel industry's difficulty in reducing steel imports it believes are dumped below cost. 3A

Trinidad and Tobago will invite foreign and local investment in several state owned companies that it can no longer afford to assist with state subsidies. 3A