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August 01, 2000

* Citigroup Inc. said Ed Horowitz is resigning as chief of its E-Citi Internet think-tank division after mounting losses at the unit and criticism on Wall Street of Citigroup's Internet strategy. Horowitz, a well-known figure in the technology world who previously ran Viacom Inc.'s interactive media arm, will be replaced by Citigroup Vice Chairman Deryck Maughan. Horowitz, who joined Citibank in 1997, will pursue other options, the company said. He will remain on as a consultant during the transition.

* R.J. Reynolds Tobacco Holdings Inc. and Liggett Group Inc. raised U.S. cigarette prices to distributors by 6 cents per pack on all of their brands, the companies confirmed, echoing Philip Morris Cos.' price hike on Friday. Prices at checkout counters likely will go up 6 to 8 cents a pack due to the increase at the wholesale level, analysts said.

* Hertz Corp. said it will add outlets in about 200 U.S. stores of auto parts and service retailer Pep Boys--Manny, Moe & Jack. The agreement, which allows Hertz to offer rentals to customers having vehicles serviced by Pep Boys, gives Hertz another way to reach suburban customers.

* A jury decided that the nation's largest wholesale baker discriminated against 21 black workers and awarded them $11 million in damages. Interstate Bakeries Corp., the Kansas City, Mo.-based company that produces Wonder Bread, Twinkies, Home Pride and Hostess Cupcakes, said it would appeal the verdict reached by a San Francisco County jury. . The plaintiffs, all workers at one San Francisco plant, claimed they were denied promotions, subjected to racist comments and given the worst shifts.

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