BUSINESS NOTES K-TEL INC. TO CLOSE BRITISH OPERATION.

K-tel International Inc., which develops, sells and distributes music and entertainment products worldwide, said Tuesday that it is closing its British subsidiary, K-tel Marketing Ltd., to eliminate unprofitable operations and streamline the company.

The subsidiary, which has marketed consumer products in Europe, contributed about one-third of K-tel's sales for the first quarter of fiscal 2001. Together with K-tel's German subsidiary that was closed earlier this year, K-tel Marketing accounted for about $28 million in sales for the fiscal year ended June 30.

- Associated Press 

Unleaded gas cost declines 3 cents

If you find yourself with a few extra bucks in your wallet this month, it may be due to lower gasoline prices.

The cost of a gallon of self-serve unleaded fuel in the region declined for the second straight month, according to the Automobile Club of Southern California Fuel Gauge report released Tuesday.

The average price for a gallon is now $1.77, down from $1.80 on Oct. 17. The state average dropped 3 cents to $1.82.

The highest prices for regular self serve unleaded found in Southern California are in Bishop at $2.05, and the lowest is in Huntington Beach at $1.63 per gallon.

Nationally, average fuel prices for regular unleaded gasoline increased 3 cents in the past month to $1.55 a gallon.

- City News Service

EAFB rocket site named landmark

EDWARDS AIR FORCE BASE - Honoring more than 50 years of research and development touching virtually every U.S. rocket system, the American Institute of Aeronautics and Astronautics dedicated Edwards Air Force Base's rocket test site as an historic landmark.

The rocket site was honored for its role in the development of rocket technology used in both national defense and in taking astronauts into space.

Established in 1947 on rocky Luehman Ridge overlooking Rogers Dry Lake, the rocket site covers more than 65 square miles and has facilities that would cost more than $3.1 billion to replicate. Over its history, the rocket site has developed engines for such rockets as the Atlas, which powered the Mercury space flights, the Minuteman missile, and the Saturn that powered the Apollo moon missions.

- Daily News

Razor look-alikes sales are halted

A federal judge Tuesday temporarily barred 12 competitors who build look-alikes to the popular Razor USA scooters from making or selling them at least through a Dec. 4 hearing for a preliminary injunction.

U.S. District Judge Manuel R. Real granted Cerritos-based Razor's request for a temporary restraining order.

Razor has filed a patent and trade infringement lawsuit against the companies, asking that they be permanently enjoined from making the scooters that have taken the country by storm.

- City News Service

Election question to keep Fed quiet

WASHINGTON - The Federal Reserve will almost certainly remain on the sidelines on today in its battle against inflation given the jitters on Wall Street about the unresolved presidential election, analysts said.

And some economists did not rule out the possibility that the central bank could be forced down the road to start cutting interest rates if the election uncertainty escalates into bigger problems.

- Associated Press

EMI, Warner talks of merger revived

EMI and Warner Music are about to revive plans to create the world's biggest music company - just as German giant Bertelsmann has disclosed that it has made its own merger overtures to EMI.

Britain's EMI and America's Warner are confident they can tailor a package to allay the concerns of competition regulators in Europe and the U.S., allowing their multibillion-dollar deal to be waved through.

Such a merger would achieve Bertelsmann Chief Executive Thomas Middelhoff's dream of transforming BMG into the world's biggest music company.

- Knight Ridder Newspapers