[{"text": "INSURERS ARE FACING billions of dollars in damage claims from the California quake."}, {"text": "But most businesses in the Bay area, including Silicon Valley, weren't greatly affected."}, {"text": "Computer and software companies in the region are expecting virtually no long-term disruption in shipments."}, {"text": "Also, investors quickly singled out stocks of companies expected to profit or suffer from the disaster."}, {"text": "Leveraged buy-outs may be curbed by two rules in pending congressional legislation."}, {"text": "The provisions, in deficit-reduction bills recently passed by the House and Senate, could raise the price tags of such deals by up to 10% and cool the takeover boom."}, {"text": "A bill giving the Transportation Department the power to block airline leveraged buy-outs cleared a House panel."}, {"text": "But Secretary Skinner said he would urge Bush to veto the bill."}, {"text": "Housing starts sank 5.2% in September to a seven-year low."}, {"text": "The drop, following a 6.2% decline in August, indicates the industry is still being hurt by the Fed's anti-inflation battle."}, {"text": "IBM plans to buy back $1 billion of its common shares, a move likely to help the computer giant's battered stock."}, {"text": "The buy-back, which wasn't a complete surprise, was announced after the stock market had closed."}, {"text": "A capital-gains tax cut plan has been worked out by Senate Republicans."}, {"text": "A similar proposal may be introduced soon by Senate Democrats."}, {"text": "British Airways said it is seeking improved terms and a sharply lower price in any revised bid for United Air's parent."}, {"text": "The British carrier also confirmed it isn't committed to going forward with any new bid."}, {"text": "UAL's stock fell $6.25, to $191.75."}, {"text": "Stock prices rose slightly as trading slowed, while bonds ended little changed despite a slumping dollar."}, {"text": "The Dow Jones industrials gained 4.92, to 2643.65."}, {"text": "But investors remain wary about stocks, partly because of turmoil in the junk-bond market."}, {"text": "B.A.T Industries may delay part of its defensive restructuring plan, including the sale of its Saks Fifth Avenue and Marshall Field units."}, {"text": "The British conglomerate cited the recent turmoil in financial markets."}, {"text": "WCRS Group announced a major restructuring that largely removes it from the advertising business."}, {"text": "The London-based concern will sell most of its ad unit to France's Eurocom."}, {"text": "Commodore International expects to post its second consecutive quarterly loss because of weak personal computer sales in some markets."}, {"text": "Jaguar hopes to reach a friendly accord with General Motors within a month that may involve producing a cheaper executive model."}, {"text": "Sears is negotiating to refinance its Sears Tower for close to $850 million, sources said."}, {"text": "The retailer was unable to find a buyer for the building."}, {"text": "Whitbread of Britain put its spirits division up for sale, setting off a scramble among distillers."}, {"text": "The business includes Beefeater gin."}, {"text": "Markets --"}, {"text": "Stocks: Volume 166,900,000 shares."}, {"text": "Dow Jones industrials 2643.65, up 4.92; transportation 1247.87, off 6.40; utilities 213.97, off 0.57."}, {"text": "Bonds: Shearson Lehman Hutton Treasury index 3371.36, off"}, {"text": "Commodities: Dow Jones futures index 129.90, up 0.18; spot index 130.36, up 0.39."}, {"text": "Dollar: 141.45 yen, off 1.30; 1.8485 marks, off 0.0182."}]