Jon Pareles Critic's Notebook article on growing popularity of so-called 'world music' as purism and provincialism increasingly give way to international diffusion; survey of albums released this year by artists of 21 countries; listing of upcoming concerts and festivals; photos (L)

A Universe of Music

Philadelphia 76ers obtain 7-foot-2-inch Dikembe Mutombo, last great center still standing in Eastern Conference, in six-player deal with Atlanta Hawks that will involve Theo Ratliff and Toni Kukoc going to Atlanta; Allen Iverson, Mutombo's new teammate, lauds move as one that will help 76ers win championship; Dallas Mavericks acquire Juwan Howard from Washington Wizards in eight-player trade; photos (L)

76ers Hope Mutombo Will Deliver the Title

Wallkill (NY) Town Board, after months of ignoring allegations that police routinely harassed women and tried to intimidate critics, approves agreement with New York State Attorney General's Office providing for strict guidelines on police conduct and oversight by federal monitor (M)

Town Agrees To Restrain Police Force

Lobbyists for business were hoping for large tax breaks for corporations this year, but Charles E Walker, dean of group, cautions that now is not time to press for business tax cuts; Pres Bush has let it be known that any tax cuts will be aimed at individuals, not businesses; Walker has sought to reduce corporate taxes since 1978; graphs; charts; photos (M)

Quiet on the Lobbying Front; Sudden Halt to Coalition's Bid for Corporate Tax Breaks

ABN Amro Holding NV says second-half net income fell 23 percent, to 873 million euros ($790 million); bank will cut another 5,750 jobs, or 5 percent of its work force, and close 200 Dutch branches as it aims to meet profit targets (S)

ABN AMRO'S PROFIT FALLS

Heineken pushes into Germany by creating joint venture with Schorghuber group to sell Paulaner Weiss beer; Heineken will buy 49.9 percent stake in venture to gain access to two German beer makers and link to brewer in Chile; Bayerische BrauHolding AG, Schorghuber unit, will own rest (S)

HEINEKEN IN GERMAN VENTURE

Even some of the most devoted supporters of Bill and Hillary Clinton now refuse to defend their messy exit from the White House and some openly criticize them. Page A16.

Clinton Fatigue in Democrats

New generation of winter toys, plastic sleds in garish colors and various shapes, has replaced flexible Flyer, long the sled king of America; riding new sleds is new generation of thrill-seeking children who are quickly transforming neighborhood sledding into latest extreme sport; trend toward faster sleds comes at time when health and safety experts warn that sledding presents risks of severe injury, including paralysis and death; photos (L)

Thrills, Spills And More Cries Of Sled Injuries; Non-Steer Plastic Replaces Flexible Flyer on the Hills

Current and former government officials say Federal Bureau of Investigation failed to conduct rigorous internal review of its own personnel despite evidence that Russia had significant pipeline from United States government; say signs of penetration included unexplained failures of sophisticated electronic surveillance programs against Russians; Robert Philip Hanssen failed to arouse suspicions until FBI got Russian case file detailing his espionage career, even though he was once caught breaking into computer of classified unit responsible for Russian counterespionage operation; photo (M)

U.S. Had Evidence of Espionage, But F.B.I. Failed to Inspect Itself

Port Authority of New York and New Jersey is set to lease its World Trade Center, New York City, once derided as example of government excess, to Vornado Realty Trust in deal valued at $3.25 billion, largest real estate deal ever involving single office complex; continues talks with other bidders because deal has not been finalized; photo (M)

Trade Center, Once Sneered At, Lures Rich Suitor and $3.2 Billion

Sun Microsystems says many of its large customers have sharply cut back on investments in computer equipment, making it likely that it will fall well short of projected sales and earnings in current quarter; expects revenues to grow 10 percent to 13 percent in current quarter, down from 35 percent year ago and previous projection of at least 20 percent for current quarter; warning comes after rocky day of trading for technology stocks following announcement from EMC, leading vendor of large data storage systems, that its growth this year might be slower than previously expected (M)

Sun Revises Its Estimates Downward

Mexican lawmakers opposed to Pres Vicente Fox want to remove four businessmen from board of state-owned oil company Petroleos Mexicanos, or Pemex, saying Fox's appointments violate Constitution; say private citizens cannot be members of Pemex's board; Fox stunned nation when he named billionaire Carlos Slim Helu and three other top executives to Pemex's board nine days ago (S)

PEMEX DIRECTORS OPPOSED

Telecommunications suppliers are optimistic at 3GSM World Congress in Cannes, France, while financial markets remain pessimistic about mobile telecommunications business; European and Japanese mobile telecommunications vendors are betting on next tgeneration of mobile technology, called third generation, or 3G, which promises to bring music, pictures and video to users of cell phones and hand-held computers; they predict new technology will be available in Japan by end of 2001 and in Europe by end of 2002, some four years before similar services are expected in US (M)

Amid Telecommunications Gloom, Optimism in France

Qantas Airways Ltd will cut one-fourth of its Australian-based executives and middle management within next two weeks and will trim 5 percent of all staff over next six months; photo (S)

QANTAS TO CUT JOBS

SEB AB merges with Swedbank in stock swap valued at roughly $7.4 billion; SEB shareholders will own 51.5 percent of new entity, to be called SEB Swedbank (S)

SWEDISH BANKING MERGER

Daewoo Motor Co workers, who have orchestrated loud protests against job-cutting plans at company, accuse founder Kim Woo Choong of mismanagement that they say has threatened their livelihoods since collapse of Daewoo Group in 1999; although Kim has not been charged with any crimes, officials say they are eager to question him about financial dealings that resulted in indictment of 34 of his former subordinates; Kim left country in late 1999, and his whereabouts are unknown; meteoric rise of Kim as one of South Korea's most powerful tycoons and his equally spectacular fall have come to symbolize Korean miracle and prolonged crisis that threatened to blow it all apart in 1997 and that still hangs over economic landscape; photo (M)

For Daewoo's Founder, Pride Before the Fall

Diageo PLC says operating profit for six months ended Dec 31 was 1.23 million pounds ($1.78 million) compared with 1.15 million pounds year earlier; operating profit at Burger King unit fell 6 million pounds, to 99 million pounds (S)

SPIRIT SALES HELP DIAGEO

Malaysia's Securities Commission announces 10-year plan to liberalize country's securities markets, easing restrictions to win back foreign investment and give companies alternatives to what economists say is overreliance on bank lending; plan calls for lifting limits on foreign ownership of financial companies by 2003 and for folding two smaller Malaysian exchanges into main exchange by next year; plan also proposes ending restrictions on selling borrowed stocks or bonds or short-selling (S)

MALAYSIA EASES FINANCIAL RESTRICTIONS

Floyd Norris comment says that foreign investors will not keep sending cash to US to finance record trade deficit and that if foreign investment eases, US dollar will fall; says that dollar has reflected belief in new economy and that as that belief unravels, so will dollar's value; graph (M)

Does the U.S. Trade Deficit Matter? This Year, It Will

Turkey floats its currency, lira, and value drops 25 percent by end of day and sends wave of concern, but so far no panic, through many foreign markets; while investors and political leaders worry about whether Turkey's financial problems will be contagious, Turks wait for prices to skyrocket and wonder whether crisis might bring down government; leaders of two main opposition parties demand that Prime Min Bulent Ecevit resign and call early elections; US Treasury and International Monetary Fund officials issue statements intended to calm markets by expressing support for Turkey's decision to let currency float; same officials are much more critical in private; chart; photos (M)

Turkey Floats Currency, and It Falls 25%

Article profiles TVR Engineering, British maker of lightning-speed luxury sportscars that will soon be distributed in United States; company is solely owned by Peter Wheeler; photos (M)

Fast, English, Eccentric And Headed This Way

In Henry Selick's exuberant ''Monkeybone,'' Brendan Fraser (left) plays a comic-book artist whose grotesque images, inspired by nightmares, have given way to cheerful cartoons, thanks to the efforts of a kindly sleep doctor (Bridget Fonda).    But then, after a car accident leaves him in a coma, he descends into Downtown, a lurid limbo where his most feverish imaginings come to life, and his id, in the form of his character Monkeybone (John Turturro), starts running riot. The complex plot suggests a bedtime story as told by Freud.    A. O. Scott's film review, Page 10.  

Art of the Id

Korea Telecom Corp reports net profit for last year of 1 trillion won ($811 million), up from 383 billion won year earlier; sales totaled 10.3 trillion won, gain of 7.6 percent from year earlier (S)

KOREAN TELEPHONE PROFIT SURGES

UBS says fourth-quarter net profit totaled $861.5 million; profit was 8 percent lower than third quarter but up from $670 million year earlier; graph (S)

UBS PROFIT IS UP

Bridgestone Corp says fiscal year profit dropped 80 percent as result of sweeping recall of Firestone tires in US; General Motors Corp plans to replace Firestone tires on some 2002 Cadillacs and other vehicles with Bridgestone tires; Bridgestone reports earnings of 17.7 billion yen ($152 million) compared with 88.69 billion yen ($761 million) in 1999; sales fell 4 percent, to 2.01 trillion yen ($17.27 billion); company took one-time charge of 81.4 billion yen ($699 million) for recall at its US subsidiary (S)

February 23, 2001

Headlines from February 23, 2001

A Universe of Music

76ers Hope Mutombo Will Deliver the Title

Town Agrees To Restrain Police Force

Quiet on the Lobbying Front; Sudden Halt to Coalition's Bid for Corporate Tax Breaks

ABN AMRO'S PROFIT FALLS

Billboard 200

Hotshot

1

Save The Last Dance

J.Lo

Rule 3:36

Historical Context for February 23, 2001