[ BUSINESS ]

Chase Manhattan-J.P. Morgan merger OK

The Federal Reserve on Monday approved Chase Manhattan Corp.'s$35.2 billion purchase of investment bank J.P. Morgan, a deal unitingtwo of Wall Street's oldest names to create one of the nation'sbiggest banking companies. The vote was 4-0 by the central bank'sboard of governors, which determined that the merger would notthreaten competition.

Bad earnings news at Lands' End

Lands' End Inc. said earnings this year will fall or be unchangedbecause the catalog and Internet retailer cut prices. Previously,Lands' End said profit would exceed the $1.52 a share it earned ayear ago. The Dodgeville, Wis., company revised the outlook …