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June 20, 1998

* A European Union antitrust panel recommended approval of the merger between telecommunications powers WorldCom Inc. and MCI Communications Corp., provided MCI sells its Internet businesses, an industry source told Reuters. The panel of experts from the 15 EU countries also requested clarification about how Washington-based MCI would transfer its Internet retail customers to a new owner, the source said.

* Brunswick Corp. must pay $133.2 million in damages to boat builders who sued the maker of recreational products for monopolizing the sale of boat engines, a federal jury in Arkansas decided. Brunswick said it plans to appeal.

* FMR Corp. may not deduct the cost of starting up new Fidelity mutual investment funds, the U.S. Tax Court said in a ruling that could have broad implications for the financial services industry. The court sided with the Internal Revenue Service, which said such costs are capital investments and therefore aren't deductible business expenses.

* Sunbeam Corp. is recalling 53,000 electric blankets with safety circuits that can overheat and may cause fires. The Model 602 blankets were sold in department stores primarily in the Northeast and Northwest.

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