BRIEFCASE BIKE HELMET FIRM RECALLS THE FIVE 40.

Byline: - Staff and Wire Services

HERMOSA BEACH - Hermosa Beach-based MOSA Sports voluntarily recalled about 1,250 bicycle helmets of the Five 40 brand, the U.S. Consumer Product Safety Commission reported Tuesday.

``These helmets fail impact testing required under (the commission's) safety standard for bicycle helmets, violating the Consumer Product Safety Act,'' says a press release from the commission.

Neither the agency nor the company has received any reports of injuries involving the helmets.

Those in question are black, white or red and have the Five 40 brand name printed on the front and back. The ``v'' in the ``Five'' is much larger than the other letters, and the number 990803 appears, without a comma, along with the model number 540 on a label inside the helmet.

Valley unaffected by Tenet revision

SANTA BARBARA - Tenet Healthcare Corp., the nation's second-largest hospital chain, will sell or consolidate 14 hospitals in eight states, cut costs by $100 million and use the proceeds to buy back shares, company officials said Tuesday.

They said the moves will help improve efficiency and boost profit margins.

The announcement was made as part of a larger effort to streamline the company's operations and make its financial statements clearer.

No facilities in the San Fernando Valley area are expected to be affected.

First Baycol trial victory for Bayer

CORPUS CHRISTI, Texas - A jury Tuesday cleared Bayer Corp. of liability in a $560 million lawsuit that accused the pharmaceutical giant of ignoring research linking the cholesterol-lowering drug Baycol to dozens of deaths.

The jury deliberated for 2 1/2 days before returning the verdict. It was the first of about 8,000 cases against Bayer to go to trial.

The lawsuit was brought by Hollis Haltom, an 82-year-old engineer who said a muscle-wasting disease caused by Baycol severely weakened his legs.

P&G widens sway in hair-care realm

CINCINNATI - The Procter & Gamble Co.'s $5.8 billion deal for Germany's Wella AG substantially increases P&G's worldwide clout in the lucrative hair-care market, which the company has targeted as a key growth category.

Coupled with its $4.9 billion purchase of Clairol in 2001, the deal extends P&G's market presence from shampoos and conditioners to hair-coloring products and supplies for professional hair care salons in Europe and Latin America.

Feds suing again on tobacco sales

WASHINGTON - The nation's tobacco companies should forfeit $289 billion in profits for a scheme to deceive and defraud smokers and the general public, the Justice Department says in court filings.

The government accused companies of lying about a link between cigarettes and cancer, denying that smoking was addictive and continuing to target teenagers.

Bill Ohlemeyer, vice president and associate general counsel for Philip Morris USA, called the claims absurd and noted the government regulates how cigarettes are sold.

House-building starts plunge 11%

WASHINGTON - The number of new housing projects on which builders broke ground in February plunged by 11 percent, the sharpest decline in nearly a decade, as bad weather and an uncertain economic climate took its toll on the residential construction market.

Housing construction dropped to a seasonally adjusted annual rate of 1.62 million units in February, representing an 11 percent decline from the previous month, the Commerce Department reported Tuesday.