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- American Airlines said beginning June 1, passengers will be limited to two carry-on items that must fit within baggage sizers at airport gates, joining other carriers in tightening baggage rules.
- United Airlines said slight delays on flights from O’Hare International Airport were due to a work slowdown by some of its ground crew members, but the workers’ union disputed that, saying it did not authorize a slowdown.
- Norwest Corp., one of the nation’s largest banks, plans to buy up to 10 million shares of its common stock, or 1.3% of shares outstanding, in the next year for employee benefit plans, acquisitions and other purposes.
- PNC Bank Corp.’s board authorized the buyback of up to 10 million common shares, or 3.3% of the Pittsburgh-based company’s outstanding shares, in the next year.
- Equity Office Properties Trust, headed by billionaire financier Sam Zell, said it bought 13 office buildings in Denver and Albuquerque for about $394 million.
- Ugly Duckling Corp. said it will spin off part of its auto-lending business into a new company, Cygnet Financial Corp., which will extend lines of credit to used-car dealers. The company also said first-quarter profit more than quadrupled to $3.75 million, or 20 cents a share, from a year ago as revenue more than tripled to $85.4 million.
- Crown Cork & Seal Inc. appointed John Conway president and chief operating officer, replacing Michael McKenna, who was named vice chairman of the packaging company.
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