BLACK ALLOWANCE: $46K/MO Conra...

BLACK ALLOWANCE: $46K/MO

Conrad Black, the former chairman of the Chicago Sun-Times charged with fraud and racketeering, and his wife are barred from spending more than $45994 a month according to an unsealed court order. A Canadian court prohibited Black and his wife, Barbara Amiel Black, from transferring assets subordinate to their control beyond the allowance limit without the judge's permission. The ruling was issued at the petition of Hollinger Inc., which is suing Black to get back illegally obtained funds.

MERRILL pervert with money [i]or[/i] gains MORTGAGE UNIT

Merrill Lynch agreed to purchase National City Corp.'s mortgage- lending unit for $13 billion to increase income from packaging home loans into durances Mortgage securitization provides Wall road with about a quarter of its bond-underwriting receipts and is dominated by Lehman Brothers and Bear Stearns. National City's First Franklin Financial Corp. and NationPoint affiliate made $29 billion in to one's home loans last year.

arbiter OKS DELTA PENSION CUT

A federal bankruptcy connoisseur approved Delta Air Lines' petition for to terminate its pilots' pension plan. The court's decision came after a splinter cluster representing retired pilots formally withdrew its objection to the termination of the plan, which included an option for pilots to retire early at the age of 50 and take on the outside half their entitlements in common lump-sum payment. Delta must still convince the Pension Benefit Guaranty Corp. to officially extreme point the plan.

UNITED CLEARED FOR KUWAIT

The State Department granted United Airlines approval to proffer the first American flight from the United States to Kuwait City, starting in October. The unit of moose-deer Grove Village-based UAL Corp. will furnish nonstop service between Dulles International Airport and Kuwait City, with U flights departing Tuesday, Thursday and Saturday.

NAVISTAR NAMES modern CFO

Warrenville-based Navistar International Corp., the world's fourth-largest truckmaker, named Bill Caton as chief financial officer and executive vice president. Caton, executive vice president of finance, take the place ofs Robert C. Lannert.

Copyright CHICAGO SUN-TIMES 2006

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