July 17, 2002

Toshiba Corp chairman Taizo Nishimuro says company will lose less than anticipated for quarter ending June 30 (S)

World Business Briefing: Brazil: TV Concern Restructures Dek

Singapore's nonoil exports fell 0.6 percent in June from June 2001, to $4.5 billion; exports of electronics fell 9.6 percent; shipments of semiconductors, single biggest export item, dropped 18.9 percent; chemical exports rose 26.5 percent (S)

Former police officer Charles Schwarz is convicted of perjury in denying he led Abner Louima to bathroom in Brooklyn station house where he was assaulted by officer Justin Volpe, but jury deadlocks on second perjury charge and two civil rights charges; partial verdict in federal case assures that bitterly fought case will continue, with prosecutors saying they will bring Schwarz back to court; photos; two previous convictions were overturned; jurors are unable to decide whether Schwarz lied about being present in bathroom; Schwarz again declares innocence and vows to continue fight (M)

Corporate Wrongdoing Is the Focus on Two Fronts In testimony to Congress, Alan Greenspan, the Federal Reserve chairman, pointed to a corporate culture blighted by ''infectious greed'' as the cause of the breakdown in confidence among investors. With political pressure growing and the stock market falling, the House hurriedly passed a measure that would toughen criminal fraud penalties intended to curb corporate wrongdoing. [Page A1.]

Intel says it has encountered few signs of economic recovery in second quarter and it expects weaker than normal seasonal improvement in demand rest of year; plans cost-cutting measures, including cut in capital spending and elimination of about 4,000 jobs, almost 5 percent of work force; says it earned $446 million in quarter, up 133 percent from year-earlier quarter; revenue was $6.32 billion, slightly less than $6.33 billion reported year ago, as well as 7 percent lower than first quarter; Apple Computer says its sales and revenues slumped in recent quarter and that earnings could be well below Wall Street's expectations; Motorola Inc says its net loss jumped to $2.32 billion from $759 milion year ago; revenue declined 10 percent from year earlier, to $6.74 billion (M)

List of major articles in inside pages

Richard Bernstein reviews book Six Days of War: June 1967 and the Making of Modern Middle East by Michael B Oren; photos (M)

Footlights column notes cultural events of interest this week; photos (S)

New York Yankees defeat Toronto Blue Jays, 7-6; photos (M)

Palestinians in Israeli army uniforms carry out brazen daytime ambush of bus near Israeli settlement of Immanuel, kiling seven people, including 11-month-old baby, her father and grandmother; 17 people are wounded as gunmen set off bomb and then hurl grenades, raking bus with gunfire to kill passengers trapped inside; photos; map; attackers flee, although one is reported killed by pursuing soldiers; three terrorist groups claim responsibility for attack in same location as December bus ambush in which 11 people died; attack comes as Sec Colin Powell meets in New York with UN, European Union and Russian envoys on ways to revive political talks; says he would be 'more than willing to consider' having Yasir Arafat remain as kind of figurehead leader in Palestinian government with new prime minister in charge; Israel plans no large-scale retaliation and will continue day-to-day operations in West Bank that government says have foiled 90 percent of planned suicide attacks (M)

Bank of Japan, expressing confidence that economy is moving onto firmer ground, says its monetary policy will remain unchanged; policy board votes unanimously to leave short-term interest rates effectively at zero; critics are skeptical of economy's apparent improvement and have demanded more easing from bank (M)