NEWS SUMMARY

NEWS SUMMARY

* Albert L. Kraus, Markets & Money 3A

* Customs Update 4A* Howard Simon - Simon Says 7A

* Greg Johnson - Managing Traffic 2B

AIR CARGO

Debate over mail and package delivery service across European borders after 1992 is heating up. 9B

Air Canada has taken steps to bolster its cross-border trucking operation. 9B

AVIATION

Four Western European airlines joined forces Thursday in an alliance they said would help them compete in an increasingly liberalized air travel market. 9B

CHEMICALS/

PLASTICS

Occidental Chemical Corp.'s ambitious plans to build large petrochemical plants in the Soviet Union may be running into trouble again. 7A

It now takes $231 million and 12 years to develop the average prescription

drug, a study has determined. 7A

COAL

Barge conditions for export coal look good, but low water levels could cause problems this summer for some domestic coal-fired utilities. 11B

COMMODITIES

CFTC Commissioner William Albrecht said a merger between the CFTC and the Securities Exchange Commission would be harmful to futures. 6A

Chinese agricultural officials predict a bumper grain harvest in 1990 and foreign analysts said this could lead to a reduction in imports. 6A

The U.S. ambassador to Japan says latest trade agreements should help the Pacific Northwest's wood products industry. 7A

EDI

Customs services around the world have begun to use international standards for paperless trading, air cargo carriers say. 2B

EXPORTS

Recent technology transfer deals between U.S. and Brazilian computer manufacturers show the deterioration of Brazil's reserved computer market. 5A

The Philippines will go on daylight time this month for the first time in many years to conserve energy as shortage worsens. 5A

Aldus Corp. is putting the final touches on a version of its popular PageMaker graphics program for distribution in the Soviet Union. 5A

The House Foreign Affairs Committee reported out a bill to pare away ''strategic" U.S. export controls. 10A

FINANCIAL

Mexico's plan to return commercial banks to private control is the move that hesitant domestic and foreign investors have been awaiting. 3A

The U.S. dollar declined against key currencies except the Japanese yen Thursday. 3A

A $60 billion boost in the IMF's lending resources "can be wrapped up" in the next few days, a U.S. official said. 3A

GENERAL NEWS

Retail sales generally rebounded in April as consumers returned to stores to shop for Easter and spring items. 2A

Ford's first-quarter profits plunged 69 percent from the year-ago quarter. 2A

IMPORTS

An apparent switch in the Senate could open door to millions of dollars in duty refunds. 1A

Discovery of a computer error led to cutting dumping margins on Hong Kong sweaters to less than half what Commerce announced last week. 1A

Two tainted grapes crippled the Chilean winter-fruit industry a year ago, triggering an ongoing investigation. 4A

INSURANCE

The number of joint ventures in Eastern European countries has more than doubled in the past nine months. 9A

Profit increases of at least 20 percent have been announced by three more French insurance companies. 9A

The life insurance industry is developing products that pay part of the death benefit early if it provides for retirement heath care. 9A

Insurance is not the only mechanism to fund underground storage tank liabilities, said a corporate insurance director for U.S. West Inc. 9A

INTERMODAL

The logistics of moving coal from mine to utility generating station will change dramatically if the clean air legislation is enacted. 1A

MARITIME

Hong Kong said a ship intending to broadcast democracy messages and news to China won't be allowed to land in the colony. 1A

NYK Line plans to start a direct service between Japan and Vietnam as well as a feeder service between Singapore and Ho Chi Minh City. 1B

Marine Transport Lines agrees to sell 50 percent of tanker operating subsidiary. 1A

Bloomers of California charged Martyn Merritt and his AMG Services Inc. with violations of the 1984 Shipping Act. 1B

The Port of Portland, Ore., is finally getting a replacement for the heavy- lift dock crane that was destroyed at sea nearly 19 months ago. 3B

A court ruling bars longshore pickets at Portland this summer. 3B

Hong Kong's seaborne imports showed a decline in the fourth quarter from the third quarter and a year earlier, though ship calls and capacity were up. 12B

The USDA inspector general's office urges Congress to cut foreign country shipping agents From the food aid program. 12B

OIL AND GAS

Public Service Electric and Gas Co. and the Pennsylvania-New Jersey- Maryland Power Pool are in good shape to meet summer demand. 10B

New York's independent power producers fear financing could dry up because of claims of a conflict of interest. 11B

OPEC ministers agreed to cut their total crude output. 11B

OPINION

American business should be allowed to join the rush to invest in Vietnam. 8A

Trade with Vietnam should be secondary to a settlement of the Cambodian conflict. 8A

RAILROADS

Two railroads hope to attract short-haul shippers with new intermodal services. 2B

Continuing heavy rainstorms across Texas and Oklahoma have been washing out rail lines and delaying traffic in the Southwest. 2B

TRUCKING

The Teamsters Central States pension fund filed suit in federal court to force Transcon Lines into bankruptcy proceedings. 2B

WORLD TRADE

Credit card companies seek to position themselves for what they hope will eventually be a big market in the Soviet Union and Eastern Europe. 1A

Small businesses in East Germany are reaching out to their counterparts in Western Europe and the United States for business know-how. 1A

Companies from the United States and Canada must become an integral part of the future European trading area of concentric circles. 5A