VW Japan to recall 180,611 cars: Volkswagen Group Japan KK, the Japanese unit of Volkswagen AG, said it had informed the transportation ministry it would recall 180,611 cars in Japan to repair electric wiring and engine components. The defective Golf, Passat and Vento models were imported between August 10, 1992 and May 6, 1998 and will be repaired free of charge, a spokeswoman forVolkswagen Group Japan said. The defects, including those in circuitry in engine control computers, metal fittings on fuel hoses, and insulation on parts measuring engine revolution speed, were found only in Japan, the spokeswoman said. No accidents have been reported in Japan as a result of the defects, she said. Volkswagen Group Japan did not disclose the cost of the repairs.

Ralcorp plans Dutch auction bid: Ralcorp Holdings Inc. said its directors have million shares of the company's common stock at a price of not more than $16.00 or less than $14.00 per share. The exact price will be determined by a procedure commonly referred to as a "Dutch auction." Ralcorp, which makes private label ready-to-eat and hot cereals, crackers and cookies, has about 31.7 million shares of common stock outstanding.

Reed scotches profit warning fear: Anglo-Dutch publisher Reed Elsevier dispelled rumours of any imminent profit warning, saying it would issue its trading update, as part of normal practice, onDecember 3, 1998. The group's shares, listed in London and Amsterdam, fell sharply on fears it might issue a profit warning as part of an analyst presentation. Reed, however, clarified that its briefing would only focus on its business publishing and information division.

Rolls-Royce Virgin boosts engine order: Britain's Rolls-Royce Plc said it had received additional orders for engines worth $80 million following Virgin Atlantic's selection of two extra Airbus A340-600 aircraft. In a statement, Rolls-Royce said the airline's firm order for ten of the aircraft brought the value of orders for its Trent 500 engines to $720 million. The first A340-600 for Virgin Atlantic is to be delivered in 2002.

Kia says auction to run as scheduled: The auction organisers for South Korea's Kia and Asia Motors' denied local media reports that an announcement of the winning bid was imminent, saying it would be revealed as scheduled on Monday. "The auction results will be announced as schedule on October 19(Monday)," a statement from the auction headquarters said. The Chosun Ilbo, a local newspaper, reported that the auction office at Kia was expected to finalise the winner of the tender between Hyundai and Daewoo. "...Because the conditions for this auction have been loosened considerably, a detailed appraisal of bids would be necessary," the statement said. The headquarters advised caution over believing local media reports about requested debt write-offs in recent bids. "...There is no possibility (the information) could have been leaked," it said. Four auto companies, including Ford Motor, three South Korean makers -- Hyundai Motor, unlisted Daewoo Motor and Samsung Motors, lodged bids for Kia and Asia Motors on Monday.