Business Briefs

NEW YORK -- Deep discounts drew consumers into the nation's malls and stores during January, offering many struggling retailers some temporary relief from a sluggish sales trend.

The Bank of Tokyo-Mitsubishi's index, which tracks sales at about 80 stores, rose 4.8 percent last month from January 2000, when the index increased 5.7 percent. Michael P. Niemera, a vice president at the bank, had expected a 3.5 percent to 4 percent gain in January.

But analysts found no reason to celebrate the results reported Thursday, since much of the buying was spurred by winter clearance sale prices that are expected to hurt retailers' profit margins.

Unemployment claims

jumped last week

WASHINGTON -- The number of Americans filing new claims for state unemployment insurance rose sharply last week, suggesting that some workers are having trouble finding jobs as the economy has weakened.

The Labor Department reported Thursday that initial applications for jobless benefits climbed by a bigger-than-expected 15,000 to a seasonally adjusted 361,000 for the week ending Feb. 3. Many analysts were expecting claims to rise by 4,000.

Analysts wary of new

TWA buyout bid

PHOENIX -- Analysts expressed skepticism Thursday that an Arizona investment group's planned $1 billion bid to buy Trans World Airlines Inc. will succeed, saying AMR Corp.'s American Airlines still has the best offer on the table.

Scottsdale, Ariz.-based Jet Acquisitions Group Inc., whose proposed offer is more than double that of American's, said it wants to preserve TWA as an independent airline, retain most of its employees and eventually expand the St. Louis-based carrier, which last month filed for bankruptcy for the third time in a decade.

But spokesmen for the group have declined to identify its investors or source of money and in general will not discuss specifics.

Porsche announces

SUV coming soon

CHICAGO -- Porsche AG said Thursday the Cayenne sport utility vehicle it plans to launch next year should ensure the luxury automaker's independence and spice up a crowded segment.

Without detailing the Cayenne's features or possible price, Frederick Schwab, chief of the German company's North American operations, said the SUV would be German-built and use the same platform as a corresponding Volkswagen AG model, with Porsche leading development of both.

Stocks slide after

poor retail forecast

NEW YORK -- An unimpressive outlook from the nation's retailers sent stocks sliding Thursday as investors looked in vain for signs that the economy and company earnings would improve anytime soon.<