February 20, 2002

BP plans to sell its 25 percent stake in natural gas field in waters off Thailand and Malaysia (S)

Counter Spy Shop in Manhattan, which specilizes in night-vision goggles and other espionage gizmos, is selling thousands of gas masks, hazardous materials suits, letter-bomb detectors and bulletproof vests following events of Sept 11; even in wobbly economy, sales have remained strong, doubling over comparable period last year; similar stores around country also report substantial increases in revenues; photo (M)

Washington, DC, federal appeals court, in major victory for nation's largest television networks and cable operators, rules government must reconsider sharp limits on number of stations network can own and strikes down regulation that restricted cable operators from owning television stations; ruling would remove significant impediments that have prevented companies from merging with broadcast networks that own TV stations; would permit big broadcast networks, which have bumped up against station-ownership limits, to continue buying stations unimpeded; is setback for smaller owners of broadcast stations and consumer groups advocating more diversity in media since it could open door for new wave of megamergers in entertainment and media industries and continued concentration of power among biggest media companies; executives at large media companies laud ruling; consumer groups express alarm; ruling, based on consolidation of five separate cases in which Federal Communications Commission sought to defend ownership regulations, discussed; photo; chart (M)

New Jersey Gov James McGreevey names Joseph Santiago special assistant to attorney general while he undergoes scrutiny by State Senate to head up state police; Republicans criticize move, saying McGreevey is effectively installing him before Senate is able to review background and suggesting he is finding place for him in case nomination as state police superintendent fails; union representing state troopers opposes appointment, having urged McGreevey to appoint someone from their own ranks; brief profile; photo (M)

LVMH Moet Hennessy Louis Vuitton chairman Bernard Arnault sells his company's majority stake in auction house Phillips, de Pury & Luxembourg to partners Simon de Pury and Daniella Luxembourg, former Sotheby's officials who run art dealership based in Geneva and are chairman and president, respectively, of Phillips; LVMH will keep about quarter of Phillips; financial terms undisclosed; graph; photo (Market Place column) (M)