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The union representing pilots of Continental Airlines Inc. will open talks with the Houston-based carrier on new labor pacts today. The airline said it is committed to reaching a contract by July 1 and will increase pay for its pilots. . . . Trans World Airlines of St. Louis completed a private sale of securities, giving it a $50-million cash infusion to help bolster its finances. . . . Buyout firm Kohlberg Kravis Roberts & Co. and American Reinsurance Co.’s former chief financial officer, James Fisher, created an insurance investment venture, Fisher Capital Corp. . . . Carson Inc. agreed to buy the Cutex line of nail-care products for about $45 million from Anglo-Dutch giant Unilever. Savannah, Ga.-based Carson, which makes hair-care products targeted to black consumers, also plans to add a cosmetics line in June.