Preview

MONDAY

Withdrawal Syndrome: Ecuador’s shaky private banks expect an avalanche of withdrawals today when they open their doors to the public for the first time in 10 days following a huge run on deposits last week. President Jamil Mahuad kept banks shut all last week, trying to protect the plunging local currency and teetering banks, as a collapse in investor confidence sparked a run on deposits. The ability of Ecuadorean banks to cope with the expected onslaught of withdrawals could make or break the $20-billion economy’s ability to pull through what government officials have called its worst crisis in 50 years.

No Mirage: Mirage Resorts Inc., the U.S.’ third-largest casino company, today opens its $680-million Beau Rivage casino resort in Biloxi, Miss., which could generate returns as good as the newest resorts on the Las Vegas strip. The Beau Rivage, designed by Mirage Chairman and Chief Executive Stephen Wynn, will be the largest casino-hotel in the U.S. outside the state of Nevada, with 1,780 hotel rooms. Optimism about Wynn’s Bellagio and other new casinos in Las Vegas has lifted the Chicago Board Options Exchange gaming index 49% since Bellagio’s Oct. 15 opening. Mirage shares have risen 37% in that time.

Abolishing Duty-Free: The European Union will move a step closer to abolishing duty-free sales today when small-country finance ministers band together to oppose a German-led campaign to save the tax-free perks for international travelers, EU officials said. Denmark, Finland, the Netherlands, Portugal, Belgium and Luxembourg told a meeting of high-level representatives last week that they will block efforts by the EU’s larger countries to preserve duty-free, which is set to disappear on July 1. It would take a unanimous vote by EU leaders at a summit later this month to overrule the finance ministers.

TUESDAY

Economy Watch: The Federal Reserve is scheduled to report that output at factories, mines and utilities probably held steady in February for the second consecutive month following the weakest annual performance in five years. The Fed’s report will also probably show that the plant-use rate, which measures industrial capacity in use, was little changed, declining to 80.2% in February from 80.5% during January. . . . Housing, meantime, isn’t about to quit. Starts on new housing construction probably remained at a high level in February of 1.764 million at a seasonally adjusted annual rate versus January’s record 1.804 million, according to predictions of the Commerce Department report due today.

Running on Hydrogen: DaimlerChrysler will unveil its fourth-generation Necar, a Mercedes-Benz A-Class that runs on pure hydrogen, in Washington as part of a two-day program on fuel-cell technology. DCX Co-Chairmen Juergen Schrempp and Robert Eaton will participate. . . . Nissan Motor Co., Japan’s second-largest auto maker, and Renault of France could reach some kind of deal as early as today, accroding to Japanese media. Renault is reportedly considering taking up to 33.4% of the struggling Japanese auto maker.

WEDNESDAY

Planned Chaos? America West Airlines and its flight attendants begin meeting on a new labor contract at the National Mediation Board office. If talks don’t bear fruit, the flight attendants union said a strike action known as “Chaos” will begin at 12:01 a.m. Saturday if an agreement isn’t reached by then. In Chaos, or Create Havoc Around Our System, workers disrupt operations by sporadically failing to show up for flights.

THURSDAY

Still No Inflation: Inflation is still a no-show. That’s what the Labor Department’s consumer price index, set for release today, will probably show. The CPI is expected to rise 0.1%, matching January’s increase, analysts predict. The core rate of the CPI, which excludes food and energy, probably climbed 0.2% in February after rising 0.1% in January.

SATURDAY

3-Mile Island Revisited: Antinuclear activists will mark the 20th anniversary of the Three Mile Island mishap at a rally outside the Salem Generating Station in the small New Jersey town of Lower Alloways Creek Township. The plant is the second-largest commercial nuclear facility in the country.

Business on Radio: Times reporters provide perspective on markets, entertainment and other news weekdays on KFWB-AM 980’s Noon Business Hour.