COMPANIES

Intel will announce next week the development of a powerful supercomputer based on an emerging technology known as parallel processing, which uses hundreds of microprocessors working together to solve complex scientific problems.

Citicorp will redeem $275 million of $950 million in outstanding securities with the aim of lowering the rates investors demand on remaining shares.

Smith Corona filed an anti-dumping petition with the Commerce Department charging that major Japanese producers, including Brother and Panasonic, have been selling personal word processors in the United States at more than 30 percent below their fair market price.

Texas Instruments has become the first U.S. firm to supply customers with samples of 16-megabit DRAMs -- the next-generation memory chips capable of storing the equivalent of 1,000 pages of text.

Stromberg Carlson's telephone equipment division will merge with a similar division of Britain's GPT under a plan to compete with North American leaders AT&T and Northern Telecom. GPT is owned by Siemens of Germany and General Electric PLC of Britain. The majority of the venture's 4,000 employees are in Florida, Arizona, New Mexico and New York.

The New York Times Co. will sell two Kentucky daily newspapers and one Tennessee weekly to American Daily Publishing Co. of Illinois. The papers are the (Middlesboro) Daily News and the Harlan Daily Enterprise in Kentucky, and the Claiborne Progress in Tennessee.

Wall to Wall Sound & Video, the bankrupt music and electronics retailer, has agreed to sell more than half of its stores for $23 million to Wee Three Record Shops of Philadelphia.

INTERNATIONAL

A Canadian board rejected a proposal to settle a free trade dispute between lobstermen in the United States and Canada. Canadian fishermen are allowed to keep and sell smaller lobsters than their U.S. counterparts.

Cocom, the Paris-based Coordinating Committee for Multinational Export Control, will relax regulations on shipments of militarily sensitive items to Poland, Hungary and Czechoslovakia effective Tuesday, according to officials at Japan's Ministry of International Trade and Industry.

EARNINGS

Rockwell International said its fourth-quarter earnings rose 6 percent.

COURTS

Standard & Poor's Corp. filed suit to terminate the licensing agreement allowing the Chicago Board Options Exchange to use the S&P 100 and S&P 500 indexes. S&P charged that the CBOE was trying to prevent others from licensing the S&P indexes for debt instruments on which the CBOE has no license.

ODD LOTS

Mirror Group, the London-based firm owned by publisher Robert Maxwell, will launch a U.S. daily racing paper in the spring. Steven Crist, former chief racing writer for the New York Times, is slated to be the paper's editor-in-chief.

A Ford union called off a threatened strike against the automaker and returned to the bargaining table. The union represents about 750 designers, illustrators and laboratory engineers.