Clinton pledges support to repeal US 'lay off' tax
After several years of punitive luxury goods taxes that decimated the US boatbuilding industry, president Clinton lent his support to legislation rescinding the tax if presented by Congress.
The tax was estimated to have been responsible for the loss of 25,000 jobs.

Capt Watts back in business
London's best known chandlery, Captain O M Watts, which went into administrative receivership earlier in the year, was saved when Alan Watts (no relation) bought the company, promising business as usual from April 1.
These days only Arthur Beale remains in London at the top of Shaftesbury Avenue...

Neil Mackley was named by North Sails as the world's top salesman after beating 200 other salesmen in 20 countries for the second year running; Eleanor Nelson was appointed sole managing director at Duncan Yacht Chandlers and Mark Acaster joined XM Yachting as sales office manager.