LTV's Aircraft Products Group plans to eliminate 1,000 jobs, almost 10 percent of its Grand Prairie, Tex., work force, by the end of next year because of anticipated reductions in military spending and to streamline its operations.

Ashland Oil was ordered by a West Virginia court to pay $10.3 million to four neighbors of its Catlettsburg, Ky., refinery who sued the firm, saying emissions from the plant hurt their health and damaged their property. The company plans an appeal.

ITO, the largest stevedoring firm at the Port of Baltimore, has been chosen to provide labor and equipment at the state's new Seagirt Marine Terminal. ITO will be responsible for the day-to-day operations at Seagirt.

Graham & James, a U.S. law firm with offices in 13 cities, including Washington, agreed to a formal association with Deacons, a Hong Kong law firm. The firms plan to open offices in new Asian locations while exchanging personnel in existing offices.

Charles H. Keating Jr.'s $5 million defense fund will be empty within two months and may force his principal law firm to withdraw from working on his defense, one of his attorneys said. The cases involve last year's failure of Lincoln Savings and Loan of Irvine, Calif., and the bankruptcy of parent American Continental Corp.

Mack Truck is laying off about 100 hourly workers at its Hagerstown plant in western Maryland. About 1,670 people work at the plant, slightly more than half of the 3,000 employees working there four years ago.

Coca-Cola said it was ending its much ballyhooed ''MagiCan'' promotion after mechanical problems in the some of the prize-filled soft drink cans generated unflattering publicity.