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Airbus Industrie Inc. is negotiating to sell long-range jetliners to Continental Airlines Inc., a spokesman for the European aircraft maker said. . . . President Clinton extended by two days the deadline for a mediator’s report on American Airlines’ labor dispute, in the hope the extra time will lead to an agreement. . . . Johnson & Johnson settled a dispute that allows it to keep control of its unit that makes Confide, an at-home test for the HIV virus. . . . Salomon Inc. of New York agreed to sell Houston-based Basis Petroleum Inc. to San Antonio-based Valero Energy Corp. for about $485 million. . . . A federal judge in Las Vegas denied ITT Corp.’s request to dismiss the law firm Latham & Watkins from representing Hilton Hotels Corp. in its $10.5-billion hostile bid for ITT.