Warner-Lambert Co. has agreed to sell its...

Warner-Lambert Co. has agreed to sell its worldwide diagnostics business to the pharmaceutical division of Akzo N.V. of the Netherlands for an undisclosed amount of cash . . . Phaser Systems, a San Francisco-based computer software development company, filed for protection under Chapter 11 of the U.S. Bankruptcy Code . . . Allied Corp. completed the sale of half of the stock of its Union Texas Petroleum unit to a New York-based investment group for $1.7 billion . . . Carson-based Tomy Corp. awarded its entire advertising account to Los Angeles-based Keye/Donna/Pearlstein . . . Ramada Inns Inc. said it expects to eliminate about 30% of the 600 jobs at its headquarters in Phoenix by the end of the year . . . TWA reported that it flew 3.57 billion revenue passenger miles in June, up 16.3% from the 3.07 billion it flew in June, 1984 . . . Union Carbide said a second analysis of samples from its factory in Bhopal, India, confirms earlier findings that water entering a chemical tank caused the gas leak that killed more than 1,700 people last December . . . Newhall Investment Properties declared a special cash dividend of 80 cents per partnership unit, payable Sept. 3 to limited partners of record July 26 . . . The World Bank reported that it is cutting the interest rate that it charges on variable-rate loans to an annual 8.82% from 9.29%, saving borrowing countries about $30 million.