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German industry giant Krupp said it plans to launch an $8-billion hostile takeover bid for rival Thyssen, a move that would create one of the world’s largest steel and engineering conglomerates. . . . Sierra Health Services Inc. of Las Vegas called off its planned $509-million acquisition of Physician Corp. of America, a merger that would have created the nation’s eighth-largest publicly held managed-care company. Sierra Health cited the $250 million in workers’ compensation losses that Miami-based Physician disclosed Feb. 26. . . . Union Pacific Corp. plans to cut about 75 jobs from its corporate headquarters staff and move its headquarters to either Dallas or St. Louis from Bethlehem, Pa., by Sept. 1. . . . Emanuel Pinez, who was fired as chairman and CEO of Centennial Technologies Inc., pleaded innocent to securities fraud charges.