NEWS SUMMARY

NEWS SUMMARY

* Trading With Bermuda 4A

* Brazil Lowers More Import Barriers 5A* Tom Connors - Washington 10A

* Tim Sansbury - Inside Talk on Energy 7B

AIR CARGO

A federal court will hear a case filed by air courier companies that charges the Postal Service with "unfair" international Express Mail rates. 5B

Cargo Air Lines of Israel is unique in that its shippers also are its shareholders. 5B

Air France has moved to establish door-to-door parcel service throughout Europe. 5B

BANKING

First Chicago Corp. is canceling $20 million in debt owed by Peru in exchange for textiles, beer, vegetables and other goods. 3A

CHEMICALS/

PLASTICS

Exxon begins large-scale use of fertilizer and bacteria to help clean up beaches in Alaska. 7A

Nearly 100 U.S. investors interested in Mexico's opening of its petrochemical market are expected to attend a conference this spring. 7A

COMMODITIES

CFTC Chairman Wendy Gramm said that Wall Street jealousy was behind calls for giving the rival SEC some or all of her agency's jurisdiction. 6A

Federal Reserve Board Chairman Alan Greenspan said the CFTC's exclusive hold over futures market regulation is an impediment to innovation. 6A

The current marketing loan plan for U.S. cotton is expected to come under fire during a meeting of the American Cotton Shippers Association. 7A

Supply/demand shifts are expected to play an increasingly crucial part in determining world market prices for coarse grains in 1990-91. 7A

EDI

European Community customs authorities want to abolish the new customs document introduced little more than two years ago. 2B

Air cargo carriers are making progress in developing and using EDI standards. 2B

A new global communications network for the maritime industry that will go into service in September could produce cost savings of more than 50 percent. 2B

EXPORTS

Brazilian President Fernando Collor de Mello promises shortly to free auto imports as one his next moves against inflation. 5A

Smirnoff vodka, a favorite of the czars that was banished during the Bolshevik Revolution, is back in the U.S.S.R. 5A

The head of Intel Corp. expects Japan to overtake the United States as the dominant world computer supplier by 1992. 5A

FINANCIAL

The U.S. dollar was mixed in slow trading Wednesday. 3A

Economic policy-makers from more than 150 nations will try to find ways of coping with growing competition for scarce global savings. 12A

IMPORTS

The Bush administration and Congress are expected to develop wide-ranging legislation reforming the U.S. Customs Service. 4A

Bermuda, Britain's oldest internally self-governing colony, is attracting many U.S. companies with its favorable investment climate. 4A

A Japanese tie manufacturer seeks to gain a hold on American necks. 4A

INSURANCE

American General Corp., which has been embroiled in a bitter takeover battle with Torchmark Corp., says it is putting itself up for sale. 11A

Allianz AG of West Germany agreed to take a 65 percent stake in a holding company that it will set up with Paris-based Compagnie de Navigation Mixte SA. 11A

The American Insurance Association has designed a blueprint for curbing sharply rising workers compensation costs. 11A

The 100 million said needed to rescue London United Investments PLC may be hard to come by, according to a London insurance analyst. 11A

MARITIME

Management changes announced for two APC divisions stem from market pressures, company evolution and personalities and abilities. 1A

A ship conference signed a benchmark contract for beer, wine and spirits with

Guinness PLC. 1A

A foreign country shipping agent launches a campaign against USDA administration of the Food for Peace program. 1A

An FMC legal office said Sea-Land's practice of extending credit privilege to shippers of specific commodities violates shipping law. 1A

The president of the International Longshoremen's Association has protested a proposed merger of two maritime unions. 1B

Matson Navigation Co. announced the purchase of a special $10 million barge for use within the Hawaiian Island chain. 3B

Chile is considering building a major port at Punta Arenas along the Strait of Magellan. 8B

OIL AND GAS

Crude oil supplies fell slightly last week, the American Petroleum Institute's supply bulletin said. 6B

Royal Dutch/Shell Group is working with the Chinese on what would be the country's largest oil refinery. 7B

Malaysia hopes to crack the Korean liquefied natural gas market. 7B

OPINION

Although opposition to unjust-dismissal legislation often has been shrill, the current court system imposes huge costs and yields few benefits. 10A

Soviet President Mikhail Gorbachev has been grabbing at bannisters in the hope of halting the Lithuanian independence drive he encouraged. 10A

The experiences of Mexico and Brazil may suggest some solutions helpful to East European governments. 10A

RAILROADS

Amtrak would have to suspend passenger rail service to Florida if a judge rules that it must quit dumping sewage from moving trains, its president testified. 2B

TRUCKING

In hopes of easing worsening traffic congestion, Manila is considering a ban on daytime trucking to and from the city's main port. 2B

WORLD TRADE

U.S. officials say East European nations fear domination by West Germany, will allocate business to United States. 1A

President Bush expanded on earlier proposals to ease export curbs on shipments of machine tools, computers and other high-tech items. 1A

The White House reacted ambiguously to a Senate call to delay action on a U.S.-Soviet trade accord. 2A

Japan's current account surplus plunged by 30.8 percent in the fiscal year ending in March. 3A

The cash-strapped Soviets ask a Japanese importer for payment in advance on crude oil shipments. 3A

China will resume reforms of its price system in hopes of ending imbalances, while the finance minister says the economy is in a critical state. 4A