June 19, 1986

The International Business Machines Corporation expects flat results for the balance of 1986 unless the economy strengthens, John F. Akers, I.B.M.'s chairman and chief executive, said today. Speaking before securities analysts at the company's general products division here, Mr. Akers said: ''If business doesn't pick up in the United States, I think the I.B.M. company will have difficulty showing earnings growth. The United States has been dicey and remains dicey.''

The House, in a surprise development, approved and sent to the Senate today a measure imposing a trade embargo and requiring complete divestment by American companies and citizens of their holdings in South Africa. The measure, approved by voice vote, would require the severing of all economic ties with South Africa and would oblige the approximately 280 American companies doing business there to halt operations within 180 days. It would impose a full embargo on trade, allowing only the import of certain materials if the President certified that they were of strategic importance. The vote is certain to increase political pressure not only on the Pretoria Government but also on the Reagan Administration, which has vigorously opposed further economic penalties against South Africa. Possibility of Confrontation The measure is unusual in that sanctions against foreign governments are usually initiated by the President, as was the case when he ordered oil companies to halt operations in Libya, using his emergency powers. If the bill became law the President would be charged with enforcing the sanctions, but as Mr. Reagan opposes such moves he could decline to carry out the measure, leading to a possible confrontation with Congress.

The Economy A plan to increase taxes on the wealthy was rejected by the Senate as it neared a final vote on tax-revision legislation. The proposal would have placed the top tax rate at 35 percent, instead of the 27 percent in the Senate bill, and would have benefited the 95 percent of taxpayers with incomes under $75,000 a year. [ Page A1. ] The Senate's approval of its tax-revision plan, expected today, would effectively seal many major provisions into any final package enacted by Congress, including the repeal of the two-earner marriage deduction and income averaging. [ D9. ] The economy grew at a revised rate of only 2.9 percent during the first three months of the year, down from the 3.7 percent rate reported a month ago. The revised figures also showed a deterioration in corporate profits. But growth in the second half should prove much stronger, many experts say. [ D1. ]

International All economic ties with South Africa would have to severed by American companies and citizens under a measure approved by voice vote in the House and sent to the Senate. The action is certain to increase political pressure on the Pretoria Government and the Reagan Administration, which has vigorously opposed further economic penalties against South Africa. [ Page A1, Column 6. ] 3,000 people have been detained in the first week of South Africa's state of emergency, officials of the World Council of Churches said. South African press curbs forbid journalists in South Africa from reporting the names of the detained. But the World Council and Amnesty International are compiling lists of detainees from sources there. [ A1:5. ]

An apparently unintended legal loophole has handed state-chartered savings banks in New York the right to issue some life insurance policies with unlimited coverage - something the thrift units have spent decades fighting for and which could mean substantial savings for consumers. The thrift units, which have offered restricted Savings Bank Life Insurance since 1939, are adjusting to their windfall cautiously, saying they want time to assess their newly expanded market. So far, only five of the 49 savings banks are selling the new policies and they have set their own limit, at least for now, of $250,000 in coverage. But since the new one-year renewable term policies became available in the past month, they have been sold to about 2,000 depositors at the five savings banks - the Bowery, Goldome, Lincoln and Ridgewood, all based in New York City, and the Roslyn of Roslyn, L.I. Rates Are Low The policies are attractive for their low rates, a hallmark of S.B.L.I. coverage. The initial annual premium on $250,000 in coverage for a 35-year-old man who is a nonsmoker is $182.50, for example. A comparable policy from a commercial insurance company could cost more than $300.