July 2, 2004

Analysis of United Airlines' financial problems focuses on vulnerability of its four big pension plans; says airline could decrease its debt by $1 billion by shedding just one plan; holds such drastic step could result in other airlines trimming their plans as well, to keep their labor costs competitive; says short-term prospect could be series of failed pension plans and lost benefits reminiscent of those in steel industry, costly outcome for government; says pilots' pension plan has biggest shortfall; adds airline might try to trim other worker's benefits to conserve cash; graph (M)

Sir Peter Davis, chairman of Britain's oldest supermarket chain J Sainsbury, resigns after criticism of his $4.55 million bonus, which was awarded despite company's poor results in 2003; Sir Peter will be succeeded by Philip Hampton, who was chief financial officer of Lloyds TSB; photos (M)

Brazil posts record trade surplus of $3.8 billion in June, leaving it with surplus of $15.1 billion this year; exports totaled $9.3 billion, while imports reached $5.5 billion (S)

Indian carmaker Maruti Udyog, majority owned by Suzuki Motor Corp of Japan, reports 9.8 percent increase in vehicle sales in June; domestic sales rose 24 percent, to 36,415 units, while exports fell 52 percent, to 3,159 units (S)

Yonkers seeks to replace rundown Mulford Gardens housing project with mix of subsidized housing for poor and rental apartments for people with slightly higher incomes; civil rights groups say that plan is another attempt by city to keep blacks and other minorities in southwest section of city and that any subsidized housing should be built in more affluent areas; residents say they want to stay in area because of its convenience to stores and day-care centers; Yonkers has struggled since 1980's with court orders to desegrate; photos; drawing (M)