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)