August 3, 2001

Analysts and investors predict that First Union will prevail in battle with SunTrust Banks for control of Wachovia Corp; within banking circles, critique of SunTrust's missteps begins; photo (M)

TrizecHahn, Canadian real estate company, reports second-quarter earnings drop of 7.3 percent, reflecting loss of revenue from properties sold; photo of company head Peter Munk (S)

Sharp Corp, Japanese electronics maker, will miss its first-half operating profit forecast by about 8 percent, due to fallen chip and liquid-crystal display prices; predicts profit of about $401 million for six months ending Sept 30; shares rise 4 percent, to $11.87 (S)

Rio Tinto Group reports first-half profit rise of 24 percent, to $841 million; issues discouraging statement concerning its views on reversal of economic downturn (S)

New York State Legislature passes stripped-down budget, four months overdue, defying Gov George E Pataki hours after he said spending plan is unconstitutional and would cause many government programs to run out of money; 11th-hour clash between Pataki and Democratic and Republican leaders tosses state's fiscal house into confusion; it is unclear whether Pataki will challenge budget plan in court (M)