* AnnTaylor Stores Corp., a retailer of women's career clothing, plans to expand its lower-price AnnTaylor Loft chain next fiscal year and buy back up to $40 million of its stock and convertible debentures as part of an $85-million capital-spending plan. In the next year, the company expects to open 15 Ann Taylor stores and 70 Ann Taylor Loft stores and improve or relocate five other Ann Taylor stores.

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* French tire giant Michelin said it plans to restructure its operations in Europe, shedding 7,500 jobs over the next three years. Michelin said the move, which represents a reduction of about 10% in Michelin's staff in Europe, could lead to the closure of some of its sites. The company expects the three-year plan to increase the group's productivity by at least 20%.