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October 14, 1998

The Federal Communications Commission again rejected BellSouth Corp.'s plan to offer one-stop shopping for local and long-distance services in Louisiana. The FCC hsa rejected all five requests it has received from regional Bell companies to provide long-distance service to its local customers. BellSouth did not say whether it would appeal the decision.

International Paper Co. plans to fire 1,500 more employees, or 2% of its work force, by early next year in an effort to save $85 million a year. The world's largest maker of paper and wood-products said falling prices for its products pushed profit down 25% to $77 million, or 25 cents a share, in the third quarter, matching analyst estimates. Sales slipped 4% to $4.9 billion.

American Express Co. agreed to acquire closely held Travel One, the nation's ninth-largest travel agency, for undisclosed terms, allowing it to expand its business with mid-sized and large companies and strengthen its presence in the mid-Atlantic and Midwest states. Travel One, which deals primarily with business travel, has 1,400 employees and annual sales of $700 million.

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