January 16, 1995

Traders in the stock and currency markets of East Asia braced for another hard week as the aftershocks of Mexico's financial crisis continued to pound emerging markets in the region. Despite economists' assurances that major Asian currencies were unlikely to be devalued and that markets in this part of the world bore little resemblance to their counterparts in Mexico and elsewhere in Latin America, investors pulled money out of Asian currency and stocks.

Look who just got caught. America's Team. Grabbed by the loftiest point in its star. Shook silly until the shine turned dull.

A merger of Turner Broadcasting System Inc. and NBC that was being negotiated this weekend instead collapsed over the issue of control of the merged entity, after a meeting between John F. Welch Jr., the chairman of the General Electric Company, which owns NBC, and Ted Turner, the chairman of Turner Broadcasting. Both sides issued statements yesterday, declaring that the proposed merger had been halted, and attributing its failure to a disagreement about which side would have retained management control.

Schools Make Do With Less New York's budget problems have brought hardships to its schools: bigger classes, fewer teachers and new demands on parents. Page B1. Rift on Simpson's Team An apparently irreparable breach has developed between two of O. J. Simpson's lawyers: Robert L. Shapiro and F. Lee Bailey. Page A8.

Many employers are taking tighter control over the rising cost of treatment for on-the-job injuries. They are turning to remedies that they have long used to rein in all other employee health costs. The cost of treating workplace injuries had risen to $28.39 billion in 1993. Medical spending in workers' compensation cases rose more than tenfold from 1970 to 1990, almost twice the rate of general medical inflation.