Also. . .
* The Oil, Chemical and Atomic Workers International Union voted to join forces with the United Paperworkers International Union, reflecting the consolidation in their industries. The merger has been approved by the UPIW board and is expected to be passed by the membership of both unions in January. The new group, which would represent 330,000 members, will be known as PACE (Paper, Allied Industrial, Chemical and Energy Workers International Union).
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* Microsoft Corp. said it will upgrade its online access service so that it can support a new standard for modems that run at 56 kilobits per second by the end of the month and offer Microsoft’s latest Web browser with added features and its newest chat software. The newly named MSN Internet Access will still cost $19.95 a month.
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* Albertson’s Inc. said its fiscal second-quarter earnings rose 17% to $128.4 million, or 52 cents a diluted share, matching analyst estimates, as it expanded by opening new stores and making acquisitions. Sales jumped 8.5% to $4 billion, and sales at stores open at least a year rose 0.6%. Earlier this month, Albertson’s agreed to buy American Stores Co. for $11.8 billion, a purchase that would make it the nation’s largest supermarket chain.
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* Dimon Inc., the world’s second-largest leaf tobacco dealer, said its net income fell 69% in the fiscal fourth quarter to $8.9 million, or 20 cents a diluted share, well below expectations of 26 cents, because of the effect of the Asian economic crisis and an oversupply of crops. Revenue from continuing operations fell 10.4% to $513 million.
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* The Federal Communications Commission rejected AT&T; Corp.’s request to reconsider its decision allowing a Sprint Corp.-Telefonos de Mexico joint venture to offer long-distance telephone service from the U.S.
