ECONOMY

Business expectations for sales, profits and employment in the first quarter of 1991 are at recessionary levels, according to a survey of business executives by Dun & Bradstreet.

COMPANIES

AT&T confirmed it is discussing "sharing ownership and management" of its Unix software division with other companies worldwide. The Wall Street Journal reported AT&T wanted to sell up to 40 percent of it to blunt industry criticism it has too much control over the theoretically cooperative software standard.

Citicorp debt rating on about $25 billion in securities was lowered by Duff & Phelps, which cited "concerns regarding asset quality deterioration."

Cray Research completed a joint venture agreement with Yokogawa Electric Corp. to sell and support the Cray XMS mini-supercomputer and related products in Japan.

NCNB Corp. said it will increase its allowance for loan and lease losses in the fourth quarter by $55 million to $65 million due to weak economic conditions.

PepsiCo awarded a lucrative contract to AT&T to provide long-distance operator services for pay telephones at Kentucky Fried Chicken, Taco Bell and Pizza Hut locations. AT&T said its three-year contract is worth a potential $32 million.

The New York Times will increase the daily price of its national edition distributed in the Midwest and the Southwest to 75 cents.

United Express said it will begin daily, nonstop service to Dulles International Airport from both Dayton, Ohio, and Cincinnati, effective Feb. 15.

GM and Chrysler said they will extend holiday vacations into mid-January for at least 47,000 hourly workers at U.S. and Canadian assembly plants.

Bank of Boston Corp. predicted a substantial loss for the fourth quarter but said its 10 cent-per-share dividend will not be cut.

INTERNATIONAL

European Community economic growth had come to a halt before Iraq's invasion of Kuwait, according to the EC, which said real gross domestic product remained unchanged during the second quarter -- the first pause in economic growth since 1987.

Hong Kong's leading bank, the Hongkong and Shanghai Banking Corp., was rebuked by China for plans to reorganize under a British holding company, which has been viewed as a sign of eroding confidence in the colony, which reverts to Chinese rule in 1997.

REGULATION

American's proposed purchase of TWA's international routes will be reviewed for possible antitrust violations by the Justice Department, officials announced. Sen. John Danforth (R-Mo.) asked the department to investigate the proposed deal.

USAir and Greater Pittsburgh International Airport should be awarded one of two gateways recently opened between the United States and British cities other than London, an administrative law judge ruled.

The SEC will seek comment on a proposal that would make it easier for underwriters to stabilize prices for their securities when the offerings are available in foreign markets.

EARNINGS

Chevron said it expects to take a special after-tax charge of about $220 million against its fourth-quarter earnings stemming from disposal of its fertilizer operations.

Systems Center of Reston said its income for the fourth quarter ending Dec. 31 is expected to be from 5 cents to 30 cents a share, lower than current market expectations of 50 cents to $1 a share.

PEOPLE

Roy P. Paulson has been named chairman of Thalhimers department stores, headquartered in Richmond.