[ BIZ BRIEFS ]

Baxter buys British plant

Deerfield-based Baxter International Inc. said Monday it will pay$10 million to acquire a manufacturing plant in Liverpool, England,that will help it meet future market demand for a new dialysissolution. The plant manufactures the raw material used to make thecompany's Extraneal dialysis solution, which was approved lastDecember by U.S. regulators.

United meteorologists OK cuts

Meteorologists at bankrupt United Airlines have ratified a newcontract agreement that includes a 13 percent wage cut, said DavidDurkin, president of the Transport Workers Union local thatrepresents the workers. The agreement will help United save between$565,000 and $595,000 annually, the union said. Separately, theairlines' Machinists union said it will fight the carrier's plan totemporarily shut down an Indianapolis airplane maintenance center.The union fears the move may be permanent if United follows throughwith proposals made in contract talks. United spokesman ChrisBrathwaite wouldn't comment on whether the airline has proposed toclose the facility permanently.

U.S. Technologies CEO charged

U.S. Technologies CEO C. Gregory Earls was charged Monday withdefrauding investors of $15 million in schemes that a prosecutorcalled "a naked theft of investors' money." A federal grand juryhanded up a 22-count indictment charging Earls with multiple countsof securities, mail and wire fraud. The new indictment encompassesallegations first made by federal prosecutors in December, but addsnew charges related to an alleged Internet investment scheme. Earls,58, who lives in Washington, didn't have an immediate comment.

Kmart narrows losses

Kmart Corp., the largest U.S. retailer to file for bankruptcyprotection, said its fourth-quarter loss narrowed to $1.1 billionafter closing stores and firing workers. The net loss compared with aloss of $1.65 billion a year earlier, the retailer said. Revenue fell18 percent to $8.88 billion.

Mortgage delinquencies fall

The percentage of U.S. homeowners making late mortgage paymentsand the number of loans entering foreclosure fell in the last threemonths of 2002 from the previous three-month period as more peoplerefinanced loans. The seasonally adjusted delinquency rate, or theamount of loans with payments overdue at least 30 days, fell to 4.53percent from 4.66 percent, the Mortgage Bankers Association ofAmerica said. The rate at which mortgages entered foreclosure was0.35 percent, compared with 0.37 percent in the previous quarter.