British Caledonia Airways said it has selected a General Electric engine to power its new long-range fleet of McDonnell Douglas MD-11s to be delivered in April, 1990 ... Sears Merchandise Group plans to use bar codes--the black and white stripes that are read by lasers--on merchandise labels beginning late this year . . . Hewlett-Packard said it bought all of Genentech's interest in the two firms' biotechnology joint venture, HP Genenchem, for undisclosed cash and royalties . . . Dow Jones & Co. and the Associated Press said they have completed the previously announced sale of their ownership, 24.8% each, in AP-Dow Jones-Telerate Co. to Telerate Inc. . . . New York investor Asher B. Edelman said he has talked with other investors about a possible joint bid for Lucky Stores Inc. . . . National Lampoon Inc. and NLI Acquisition Corp. have entered into a definitive agreement providing for the previously announced acquisition of National Lampoon by NLI . . . Fireman's Fund Employers Insurance Co. of Green Bay (Wis.) has a new name, Employers Health Insurance Co., a Lincoln National Company.