December 8, 1997

denied food stamps, many immigrants scrape for meals**In the first wave of welfare cuts to hit New York City under the Federal welfare law, more than 50,000 able-bodied legal immigrants between the ages of 18 and 59 have been denied food stamps since September; Federal officials say law, intended to move foreigners off public assistance and into jobs, has pushed an estimated 770,000 immigrants off food stamp rolls across the nation; while advocates for the poor worry that hunger is on the rise in New York City, few of more than dozen immigrants interviewed recently say they were actually going hungry; instead, they appear to be sliding deeper into poverty; photo (M)

Union Bank of Switzerland and Swiss Bank Corp will merge, creating world's second-largest bank and world's biggest money-management company; new entity, United Bank of Switzerland, will control $592 billion in total assets; Marcel Ospel, Swiss Bank Corp executive, is named chief executive and Mathis Cabiallavetta, Union Bank chief executive, is appointed chairman; deal involves exchange of stock in which Union Bank shareholders will own 60 percent equity, and Swiss Bank shareholders remainder; will lead to cuts of as many as 13,000 jobs worldwide; banking industry analysts say deal will encourge other large global financial companies to pursue mergers of own to remain competitive (M)

New York Giants defeat Philadelphia Eagles, 31-21; Giants' quarterback Danny Kanell and team's defense perform exceptionally well; photos (M)

Interview with James L Brooks, director, producer and co-writer of film As Good as It Gets; photo (M)

Preview performances of world premiere of Stephen Sondheim's 1955 play Saturday Night are set for London; English National Ballet to give gala performance of The Nutcracker, London, in tribute to Diana, Princess of Wales; Sotheby's to auction Leonard Bernstein's musical instruments and other personal effects; Metropolitan Museum's Costume Institute to open exhibition on Gianni Versace's fashion designs; photos (M)