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May 24, 2003

* International world air-passenger traffic plunged 18.5% in April from the same month last year and by 44.8% in the Asia-Pacific region and 23.5% in North America, the International Air Transport Assn. said. The nose dive was largely caused by the war in Iraq and the crisis in East and Southeast Asia over severe acute respiratory syndrome, the association said.

* Procter & Gamble Co. must pay tampon market competitor Playtex Products Inc. $2.96 million for alleged false advertising in trying to win market share for its Tampax Pearl brand, a federal jury in Manhattan decided.

* Coca-Cola Co. said it would introduce a dairy drink in the U.S. this summer to boost its share of the nutritional beverage market. The drink, which will be called Swerve, will come in chocolate, vanilla-banana and blueberry flavors and contain more than 50% dairy products.

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