COMPANIES

Disney is preparing plans to construct two new attractions and several major hotels near Disneyland in Anaheim, Calif., the Los Angeles Times reported. Details were not released.

AT&T signed a three-year agreement with Moscow's telephone agency to sell a telephone system for small offices.

Swissair, faced with a drop in bookings because of the Persian Gulf War, said its staff will be put on reduced working hours next month in a cost-cutting move. The action, unprecedented in the Swiss flag carrier's 60-year history, affects about 20,000 employees.

Trans World Airlines said it plans to lay off 195 machinists, the bulk at its Kansas City maintenance base. The remaining layoffs will occur in Los Angeles, New York and St. Louis, where TWA has its main domestic hub.

Lloyd's slashed insurance rates for marine cargo traveling to many Middle East locations, reflecting optimism that commercial shipping won't be damaged in the gulf war.

MCI Communications said it will reduce rates of calls to the United States from a transportable phone center for troops in Saudi Arabia.

AT&T launched a proxy fight to remove the board of directors of NCR Corp. as part of its hostile $6.1 billion takeover offer for the computer maker.

Coca-Cola began a national rollout of a reformulated Fresca, a low-calorie citrus-flavored drink the company hopes will attract consumers now buying bottled water and seltzers.

McDonald's added catfish to its experimental repertoire. The world's largest fast-food chain said it will begin test marketing a "crispy catfish sandwich" at 214 locations next month in Kentucky, Tennessee, Alabama, Arkansas and Mississippi.

Occidental Petroleum will lay off more than 1,000 workers as part of its restructuring following the death of longtime chairman Armand Hammer, the company said. Most of the layoffs will involve salaried employees.

Pebble Beach Co.'s $900 million acquisition by a Japanese developer could be jeopardized by the mounting financial problems of Itoman & Co., an Osaka-based trading company, sources told the L.A. Times. If the complicated deal unravels, it could result in the first collapse of a major Japanese purchase of a trophy U.S. property caused by the growing slump in Japan's real estate market.

ACQUISITIONS

Club Med said it plans to buy French tour operator Club Aquarius, creating the third- largest tour operator group in Europe.

Mobil said a federal court in Florida dismissed all the claims of three Mobil retail gasoline dealers who challenged the company's motor fuels franchise agreement.

CONTRACTS

Martin Marietta won a $126 million Air Force contract for navigation and targeting pods.

International Game Technology received a $5.4 million Army contract for slot machines.

INTERNATIONAL

Britain's base lending rate was cut by half a percentage point to 13.5 percent.

The World Bank will sell a global bond issue of $1 billion to $1.5 billion in the coming weeks. Merrill Lynch & Co. and J.P. Morgan Securities Ltd. will jointly manage the sale.

Semiconductor talks between the United States and Japan are scheduled to begin today in Washington.

Japan's trade surplus rose in January above year-earlier levels for the first time in five months, the Finance Ministry said.

REGULATION

The SEC voted to prohibit taxable money market funds from investing more than 5 percent of their assets in the commercial paper of any one company, and no more than 1 percent of assets in lower-grade paper of any one issuer, to protect investors against defaults.

The FCC proposed new rules to guarantee travelers easy access to their long-distance telephone companies. The panel also decided to seek public comment on possible compensation for owners of pay telephones from which such calls are made.

The Commerce Department is expected to issue a preliminary ruling today on whether duties should be imposed on flat-panel display screens imported from Japan for use in laptop computers and other products. Large U.S. computer makers, who are among the biggest customers of the products, have lobbied heavily against duties.

EARNINGS

Aetna reported a 6 percent drop in fourth-quarter earnings and said write-downs and reserves to cover losses from its huge real-estate portfolio totaled $550 million for the year.

Macy's said its second-quarter earnings rose 21 percent.

COURTS

Three frequent-flier brokers were ordered by a federal judge in Utah to stop buying or selling American's frequent-flier coupons, which are not supposed to be bought or sold by passengers.

Nine former Eastern Air Lines supervisors were charged with falsifying repair records at an Atlanta airport and enabling jets to fly even though they needed maintenance, said the U.S. Attorney's office in New York.