NEWS SUMMARY

NEWS SUMMARY

AVIATION

Midway Airlines Inc. has had a bumpy ride in its brief 10-year existence

finding a market niche. 9BThe National Transportation Safety Board sees little evidence that deregulation has hurt aviation safety. 9B

COAL

Pittston Co.'s 1988 contract with Japan's steel industry shapes up as a fairly good deal, traders said. 11B

COMMODITIES

Agriculture Secretary Richard Lyng defended U.S. proposals on farm reform worldwide that would remove subsidies by the year 2000. 6A

Zimbabwe's mineral exports set a record, with gold and coal leading the way. 6A

The Chicago Board of Trade and the Tokyo Stock Exchange set up a dialogue to discuss new futures products. 6A

EDI

Physicists report another banner year for superconductivity. 4B

An East Coast shipper aims to keep its customers satisfied with the latest in EDI technology. 4B

EXPORTS

The United States will seek to win international arbitration that would force Japan and South Korea to lift import curbs on beef and citrus fruit. 1A

Convenience and processed foods are the key to continued strong U.S. agricultural exports to Asia, officials believe. 1A

Beijing-based foreign experts are joining the chorus of skeptics about potential on China's Hainan island. 3A

Entering the Japanese market takes time and dedication, several business experts said at a conference on Pacific Rim trade. 5A

FINANCIAL

The United States will report some single-digit trade deficits in the next few months, which will help support the dollar. 7A

An export finance program developed by the state of Illinois is being adopted by other states. 7A

The Inter-American Development Bank is looking into an $11.1 million bank transfer made to Nicaragua late last year. 7A

Barclays PLC is raising $1.7 billion through an issue of new shares. 7A

The U.S. dollar turned lower against all key currencies except the Canadian

dollar. 7A

GENERAL NEWS

A study by Knight-Ridder Financial News indicates the U.S. economy will continue to expand in the 2nd quarter. 1A

U.S. sawmill operators complain that foreigners are paying so much for U.S. lumber that there's no wood left to saw in America. 3A

Incentives paid off in strong first quarter sales for Detroit's Big Three automakers. 3A

Sen. Paul Simon Thursday put his presidential campaign on hold. 3A

IMPORTS

The Japanese are investing an increasing amount of money in U.S. real estate. 4A

Uncertainty about the effects of continuing, radical economic change is clouding New Zealand's export prospects for 1988. 4A

A Danish investment group plans to set up Europe's first alligator farm in southern Spain to produce skins and meat for export. 4A

INSURANCE

The insurance industry, at the center of massive antitrust litigation, used pressure tactics to get some states to accept its new forms, regulators said. 9A

The workers compensation system is plagued by inadequate rates and an expanding range ofbenefits, a panel of industry leaders said. 9A

A panel at a workers compensation industry symposium debated the merits of tort reform. 9A

MARITIME

The two leading contenders for the presidency agree that the merchant marine needs to be strengthened. 1A

The U.S. trade representative says it is premature to speculate about whether the president will veto the trade bill. 2A

Maritime policy statements of Vice President George Bush and Massachusetts Governor Michael Dukakis reveal their feelings on the issue. 3A

Ten railcars imported from Japan for use in the New York City subway system will be unloaded today at a marine terminal in Brooklyn. 1B

Jamaica recorded an increase in the overall value of trade last year, but suffered a deterioration in its trade balance. 1B

Directors of the major French ports are looking for a moderate rebound in 1988. 1B

Most interested carriers want the FMC to call off for now its planned retaliation against Peruvian-flag carriers. 3B

New financing reforms may propel orders for new ship capacity in Brazil to a hundredfold increase this year from 1986's low point. 3B

A second terminal operator at the Port of Long Beach sought permission to establish a dockside railyard. 14B

Two liner operators in the U.S.-Korean trades want the FMC to allow an extra six weeks for comment on a new complaint. 14B

Representatives of shipping companies belonging to two Japanese conferences met to discuss moves to stabilize North American trade. 14B

OIL AND GAS

U.S. nuclear plant operating costs are rising so fast utilities may find it cheaper to close them before the end of their useful lives, the DOE says. 1A

Improved access to spot markets means greater sales to large industrial customers in the Pacific Northwest. 10B

Loss of spot market gas can suddenly make fuel oil prices very attractive. 10B

OPINION

When the House of Commons returns after the Easter recess, it will face legislation on the proposed U.S.-Canada free trade agreement. 8A

In the face of a rapidly aging work force, it will soon be counterproductive for employers to ease older workers out of their jobs. 8A

PLASTICS/CHEMICALS

Chevron plans to expand Louisiana styrene plant. 13B

Research Industries Corp.'s medical subsidiary acquired technology for artificial blood vessels from Vascular International Inc. 13B

A potent tick repellent has been cleared for sale in Connecticut in a bid to combat the spread Lyme disease and Rocky Mountain spotted fever. 13B

RAILROADS

Michael Dukakis pledged to seek an ICC order that Guilford Transportation Industries be replaced as Massachusetts' main freight rail operator. 2B

A USX subsidiary offered to buy a portion of the Pittsburgh & Lake Erie Railroad. 2B

The first segment of Metro Rail will open as scheduled in January 1993 even though 10 major construction contracts are behind schedule. 2B

Conrail says it has made many changes in its safety programs in response to critical assessment released by the FRA. 2B

TRUCKING

The Teamsters and major trucking companies renegotiated wage and benefit provisions in the labor agreement signed last week. 1A

The heavy truck industry is enjoying a period of stable demand unmatched in over a decade. 1A

Two companies increased their forecasts of heavy truck sales in light of market strength. 10A

Unless the ICC steps in, the number of unpublished rate cases will skyrocket. 2B

A California Senate panel rejected mandatory black box watch dogs for trucks. 4B

WORLD TRADE

U.S. officials are taking a low-key approach while business officials appear more optimistic on upcoming talks in Moscow. 1A