January 3, 2002

Argentina's decade-long defense of fixed parity between its peso and US dollar appears to collapse, as country's new president, Eduardo Duhalde, signals that Argentina will soon officially devalue peso and as central bank stops requiring nation's banks to honor one-for-one exchange rate; Duhalde hopes to make Argentine goods more competitive abroad and end three-year recession; for borrowers, central bank's action effectively devalues peso by as much as 40 percent (M)

Homestake Mining, a company in South Dakota, has tapped a rich vein of influence on Capitol Hill, winning help from the Senate Democratic leader for a project in his state. The company had planned to close the mine this month. Scientists said it would be a good site for an underground laboratory. But Homestake insisted it first had to be protected against legal liability for any damage done to the environment in digging gold over the last 125 years.

New York Jets quarterback Vinny Testaverde claims his criticism of offensive coordinator Paul Hackett's play calling in game against Buffalo Bills was misinterpreted; photo (M)

Thomson Corp acquires medical education provider, Gardiner-Caldwell Communications Ltd of Britain, for undisclosed amount (S)

Shares in Royal Dutch Petroleum Co, which represent 60 percent of Royal Dutch/Shell Group, fall 4.4 percent, biggest decline since Nov 15, after Fortis says it will sell four million shares it no longer needs; graph (S)

Prosthetic legs can now have microprocessors, strain gauges, angle detectors, hydraulics and electronic valves that create stability and step of normal leg; most advanced is C-Leg, made by German-based company Otto Bock; Curtis Grimsley says his C-Leg got him to safety from 70th floor of World Trade Center on Sept 11, allowing him to place only one foot on each step during his descent; photos (M)

Viewing platform erected beside site of World Trade Center, first architectural response to attacks of Sept 11, was designed by four of New York's best-known architects, David Rockwell, Elizabeth Dill, Ricardo Scofidio and Kevin Kennon; offers bold proposal about how city might begin its renewal; photos (M)

David Pogue column assesses Motorola's V200 and Handspring Treo, two all-in-one pocket-size cellphones that also serve as Internet terminals and Palm-like organizers; photos; drawing (M)

Lloyd's of London says number of individual investors in insurance market, known as names, fell by 13 percent for year, to 2,490; says increased premiums since Sept 11 terrorist attacks could produce Lloyd's first profit in five years in 2002; Lloyd's has said it plans to sell insurance worth almost $18 billion this year (S)

Computer chip business is source of economic hope in South Korea; Hynix Semiconductor say it has raised prices about 30 percent, its third increase in month; there are also indications Hynix, deep in debt and struggling to revamp, is making progress in talks to sell some operations to American rival, Micron Technologies, to raise cash; Samsung Electronics also reports prices are heading higher, and major German manufacturer, Infineon Technologies, could expect better terms in new sales contracts with customers; South Korea's commerce ministry announces that weak prices for semiconductors and other electronic products left country about 5 percent short of its goal of $10 billion trade surplus for 2001; photo (M)

New York Mets continue to negotiate with free-agent outfielder Juan Gonzalez (M)

Interview with Ian Rankin, crime novel writer, whose latest book is The Falls; he comments on Edinburgh as setting for his novels and character of Detective Inspector John Rebus, main character; photo (M)